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Category: topSource: redinewsNov 15th, 2021

A fully digital US dollar would be a better online currency than crypto, new Fed report suggests

A Fed-backed digital dollar would allow for fast and secure transfers without a third party or the wild price swings seen with cryptocurrencies. A person walks by the Federal Reserve on Saturday, April 25, 2020.Caroline Brehman/CQ-Roll Call/Getty Images A new report from the Federal Reserve opened the door to debate around a central bank digital currency. The Fed avoided taking a side for or against the idea and instead raised a number of pros and cons. A CBDC could boast many of crypto's benefits without the wild price swings seen over the past year. Cryptocurrencies' ascent to global stardom put governments on alert. Some, like China and Sweden, are already tinkering with digitizing their own currencies. Now the Federal Reserve is dipping its toes in the water.The Federal Reserve still hasn't sided for or against a central bank digital currency, but a new report lays out the potential benefits and risks of fully digitizing the US dollar.The Fed kickstarted the debate over a US central bank digital currency on Thursday, publishing a highly anticipated report on the topic. A CBDC would serve as a purely digital version of cash that's backed by the Fed and just as available to the public as physical cash. It wouldn't require the same deposit insurance that banks need for cash, and it wouldn't need to be backed by a physical asset.A Fed-backed digital dollar would then provide many of the benefits touted by cryptocurrencies without their wild price swings and usage fees. In theory, a CBDC would meld the best aspects of physical and digital currencies for the average American.A CBDC likely wouldn't feel all that different from a regular dollar. People already use digital cash when they shop with credit or debit cards, but in those situations, the currency is backed by private-sector banks. Should the Fed introduce a CBDC, Americans would be able to shop with a digital dollar backed by the country's central bank. If that sounds outlandish, it shouldn't; physical dollar bills are already backed by the Fed, not by commercial banks.The Fed stopped short of taking a position on a CBDC, saying it first aims to engage with the public, Congress, and other stakeholders on the topic. Still, the Thursday report detailed a handful of reasons why such a currency would benefit the country and serve as a better medium for spending than the commonly traded cryptocurrencies that have seen adoption explode over the past few years.A CBDC could bring safe, fast, and accessible paymentsCryptocurrencies surged in popularity partly due to their use in real-time, peer-to-peer payments. A CBDC could offer the same. Transactions with a CBDC would be "final and completed in real time," and could be used for everything from buying groceries to receiving government stimulus, according to the report.The digital cash would also be free from credit risk, liquidity risk, and, perhaps most importantly, the volatility that makes spending with crypto so unreliable. Stablecoins, or cryptocurrencies that aim to fix their exchange rate with a more conventional currency like the dollar, address some of the volatility problem, but a recent report from the President's Working Group on Financial Markets found gaps in the authority of regulators to address some stablecoin risks.A CBDC would also allow for more flexible transacting, the Fed said. Payments could be scheduled for certain times and used for small transfers that traditional systems might not allow for. And while services like PayPal and Venmo already have some of these capabilities, a CBDC would allow users to make such transfers without a private third party.CBDCs could even improve cross-border payments, but such gains would take time to materialize. International CBDC transfers would require new infrastructure, government coordination, and enforcement to curb illicit finance. Still, a future network of CBDC could do away with transfer fees and long settlement times.A CBDC would come with 21st-century risksA fully digitized dollar would come with its fair share of pitfalls, the Fed warned. For one, allowing the Fed to back digital payments could "fundamentally change the structure of the US financial system," according to the report. Commercial banks rely on deposits to dole out loans, but a CBDC could replace cash held in commercial banks with digital wallets offered by the private sector. That could make it far more difficult for people to take out loans.The stability of a CBDC could also spark runs on commercial banks in times of economic uncertainty, the Fed said. Traditional measures used to prevent massive outflows from banks would be inefficient if people rushed to convert their bank holdings into CBDC.Implementation of a Fed-backed digital dollar could even erode the central bank's policy power. By changing the amount of reserves in the financial system, a CBDC could affect how the Fed sets interest rates and steers inflation. The Fed would likely need to boost its level of reserves just to accommodate fluctuations between outstanding cash, bank reserves, and CBDC holdings.Introduction of a CBDC, risks and all, would make for "a highly significant innovation in American money," the Fed said. The central bank is set to take comments on the matter until May 20, when it is expected to further mull the currency's pros and cons. While the future of a digitized dollar remains uncertain, the Fed's report unequivocally opens the door to such a project.Read the original article on Business Insider.....»»

Category: topSource: businessinsiderJan 23rd, 2022

Some Starlink customers say SpaceX"s customer service is "non-existent" nearly 1 year after paying a $100 deposit and receiving no updates

One Starlink customer who asked for a refund said he can't contact SpaceX to tell the company that he hasn't got his money back. SpaceX CEO Elon Musk.PATRICK PLEUL/POOL/AFP/Getty Images Elon Musk's SpaceX has left some Starlink customers waiting nearly a year for internet, they said. Some customers said they're hanging on for Starlink. Others said they've requested a deposit refund. One customer who asked for a refund said he can't contact SpaceX to say he hasn't got his money back. Morgan Pace was trying to set up broadband for his 70-year-old father, who lives on a cattle ranch in Northern California.In February, Pace signed up to Starlink — SpaceX's rapidly expanding satellite internet network — and paid a $100 deposit to secure the service two months later."Months went by and not a peep," he told Insider.Pace said he checked his account and saw that he could lose his place in line if he took back his deposit. There was no contact number for Starlink customer service on SpaceX's website, he said.After 10 months of waiting for the internet, he requested a refund for his deposit."I think Elon is a very smart man and wish him the best, but I think his customer service for Starlink was non-existent," Pace said.Insider spoke to more than ten people who have waited nearly 12 months for Starlink's internet service. However, they have received no updates from Elon Musk's company on when Starlink will be available in their area and if the kit is on its way.They sent Insider email confirmations of their Starlink purchases and refund requests, made from February onwards.SpaceX didn't immediately respond to Insider's request for comment, made a few days before publication.Jason Kirkpatrick, who is based in Michigan, told Insider that he paid $100 to secure Starlink in March but decided to request a refund in December because of the lack of contact from SpaceX. Kirkpatrick said that when he logs onto his Starlink account, it says his deposit was refunded. However, he said he never got the money back, adding that he can't get through to SpaceX to alert them of the issue.He said he felt "cheated" out of his deposit. "Not sure how a company just can walk away with customers money without providing the service," he said.Another Starlink customer, Scott Alexander, told Insider that he's been waiting nearly a year for his Starlink kit to arrive. "Since then I have heard nothing but the generic excuse email that, we have all heard, noting pandemic and supply chain issues," he said.SpaceX sent emails to Starlink preorder customers last year, apologizing for shipping delays and saying silicon shortages have slowed down the production rate.Alexander said his neighbor, who ordered Starlink three weeks before him, has already received his kit.Starlink said in August that the global chip shortage was delaying the production of user terminals.Keith Bosse, who paid a deposit for Starlink on February 25, told Insider that his order was pushed back from mid to late 2021 to the first quarter of 2022."Seems like if they can go to space they could at least send me an update via email?" Bosse said.Meanwhile, in Canada, Troy Dubé paid 129 Canadian dollars for a Starlink deposit in late February but still hasn't had any contact from SpaceX. He told Insider that Bell Canada is now available in his area so "it'll be a matter of who gets me the faster service first."Dubé said it would be useful to contact SpaceX, especially after other people on the same latitudinal line near to him have received their Starlink kits eight months after he first ordered his kit."I currently have little choice but to wait it out," Dubé said.More than five other customers got in touch with Insider to say they had experienced the same silence after preordering Starlink. Insider first reported in September that customers were frustrated at not being able to find out when they'll receive their kits.Starlink has more than 1,400 active satellites in orbit, Musk tweeted recently.Read the original article on Business Insider.....»»

Category: topSource: businessinsiderJan 23rd, 2022

Royal Caribbean passengers describe how a terrifying volcano disaster led them to sue the cruise company over their injuries

A couple aboard a Royal Caribbean cruise ship described their horrifying experience after surviving a volcanic eruption during a shore excursion. The Ovation of the Seas ship.Photo by Wolfgang Kaehler/LightRocket via Getty Image Two cruise passengers have spoken out about a harrowing experience that forever changed their lives. They told The Independent they were severely injured during a shore excursion to a volcano in 2019. Since the incident, the pair have been locked in a legal battle, along with other passengers. Two Royal Caribbean cruise passengers have spoken out about a harrowing experience they endured during an excursion to a volcanic site.In an interview with The Independent on Thursday, Matt Urey and Lauren Barham said that in 2019, a volcano they were visiting during a shore excursion erupted in front of them. It caused severe injuries, according to the pair, who live in Richmond, Virginia.They told the outlet that the recent volcanic eruption near Tonga filled them with a sense of dread, given their own experiences.In December 2019, Urey and Barham boarded Royal Caribbean's Ovation of the Seas to celebrate their honeymoon, according to a lawsuit that was filed two years ago. On one day, the couple took a trip to New Zealand's White Island Volcano as part of a shore excursion. They said they were led to what appeared to be the center, when it erupted shortly afterwards, leaving the couple with severe burns. Royal Caribbean did not immediately respond to Insider's request for comment. According to the couple's lawsuit, Urey suffered burns to 54% of his body and Barham to 23% of her body. "We literally took off running for our lives," Urey told The Independent. "It was pure terror."Multiple publications reported at the time that 22 people were killed in the catastrophic eruption and dozens were left with burns. "We heard our tour guide shout run, and that was when it all hit," Urey said. Barham added that she was sure she was going to die. The couple alleged in their lawsuit that Royal Caribbean failed to alert cruise passengers about the risks involved in visiting the island.Royal Caribbean has its headquarters in Florida, which in June 2021, was ruled to be the correct jurisdiction for legal action taken on behalf of fellow passengers to proceed. Recently, some current and former Royal Caribbean staff members complained of unsatisfactory quarantine experiences after contracting COVID-19 aboard.    Read the original article on Business Insider.....»»

Category: topSource: businessinsiderJan 22nd, 2022

What do the green and orange dots mean on an iPhone? How to tell when apps are using your microphone or camera

The green or orange dots on your iPhone signal when an app is using the camera or microphone, respectively. Your iPhone will indicate when an app is using your microphone or camera.Crystal Cox/Business Insider The green or orange dots on your iPhone signal when an app is using the camera or microphone, respectively. These colored dots were introduced in iOS 14, and are meant to help you track how apps are accessing your device. Visit Insider's Tech Reference library for more stories. If you're an iPhone user, you may have noticed that an orange dot and a green dot now occasionally appear in the top corner of the screen. These dots are called indicator lights, and they alert users to when an app uses their camera or microphone. This new feature is part of Apple's wider push to protect its users' privacy. The orange light dot on iPhone means an app is using your microphoneWhen an orange dot appears in the top-right corner of your screen — right above your cellular bars — this means that an app is using your iPhone's microphone.For example, if you're recording a reminder using the Voice Memo app, the orange dot will appear. The orange dot also appears when making phone calls or using the Siri function. The orange dot appears when an app is using your microphone, like when you're making a phone call.Grace Eliza Goodwin/InsiderThe green light dot on iPhone means an app is using your camera or your camera and microphone simultaneouslyWhen the green dot appears in the top-right corner of your screen — also right above your cellular bars — it's an indication that an app is using your iPhone's camera, or both its camera and microphone.For example, if you open Instagram and use the Stories feature to make a video with sound, the green light will appear to indicate that the app is using your iPhone's camera and microphone. It'll also appear when you place a FaceTime call.The green dot appears when your camera is being used, like when you're FaceTiming.Grace Eliza Goodwin/InsiderHow to know which app is using your iPhone's camera and/or microphoneApple makes it simple to find out what app is using your iPhone's microphone or camera.When a green or orange dot appears, simply swipe down from the screen's top-right corner to access the Control Center. At the top, the name of the app will appear, along with whether it used your phone's camera or microphone.For example, if you used Instagram, it should read "Instagram, recently" with an icon of either a camera or a microphone.Your iPhone's Control Center will tell you which apps were using your mic and/or camera.Grace Eliza Goodwin/InsiderWhy the indicator lights matterWith the iOS 14 update, Apple introduced a number of new tools to help users protect their privacy, and force apps to be more transparent with how they use your phone.The indicator lights are part of that, alerting users if third-party apps use their microphone or camera without consent. If you find that an app is accessing your microphone or camera without prompting, you should delete and report it.Read the original article on Business Insider.....»»

Category: topSource: businessinsiderJan 21st, 2022

Netflix (NFLX) Q4 Earnings Beat, User Growth Misses Estimates

Netflix (NFLX) adds 8.28 million subscribers in the second quarter of 2021, missing its expectation of 8.5 million additions, thus reflecting growing competition. Netflix NFLX reported fourth-quarter 2021 earnings of $1.33 per share, beating the Zacks Consensus Estimate by 62.2% and the company’s guidance of 80 cents. The figure increased 11.8% year over year.Revenues of $7.71 billion increased 16% year over year and beat the consensus mark by 0.09%. Average revenue per membership increased 7% year over year both on a reported basis and on a foreign-exchange neutral basis.The streaming giant added 8.28 million paid subscribers globally against the addition of 8.51 million in the year-ago quarter, missing its guidance of 8.5 million paid-subscriber additions.At the end of the fourth quarter, Netflix had 221.84 million paid subscribers globally, up 8.9% year over year, missing management’s expectation of 222.06 million.The miss reflects growing competition from services launched by Apple AAPL, Disney DIS and Comcast CMCSA. However, the year-over-year growth benefited from Netflix’s solid content portfolio. Netflix, Inc. Price Netflix, Inc. price | Netflix, Inc. Quote Netflix now expects first-quarter 2022 paid net additions to be 2.5 million compared with the year-ago quarter’s 3.98 million, reflecting lack of new content, stiff competition and macro-economic impact of COVID in several parts of the world.Netflix expects to end the first quarter of 2022 with 224.34 million paid subscribers globally, indicating growth of 8% from the year-ago quarter.Shares of this Zacks Rank #3 (Hold) company were down almost 20% in after-hours trading following the results. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.In the past year, Netflix shares have underperformed Apple and Comcast, while outperforming Disney.While Netflix shares fell 12.3%, Apple and Comcast returned 20.2% and 2.2%, respectively. Disney shares dropped 13.8% in the past year.Segmental Revenue DetailsUnited States and Canada (UCAN) reported revenues of $3.31 billion, which rose 11% year over year and accounted for 42.9% of total revenues. ARPU grew 9% from the year-ago quarter on a foreign-exchange neutral basis.Paid-subscriber base increased 1.7% from the year-ago quarter to 75.22 million. The company added 1.19 million paid subscribers, up 38.4% year over year.Europe, Middle East & Africa (EMEA) reported revenues of $2.52 billion, which climbed 18.1% year over year and accounted for 32.7% of total revenues. ARPU grew 6% from the year-ago quarter on a foreign-exchange neutral basis.Paid-subscriber base increased 11% from the year-ago quarter to 74.04 million. The company added 3.54 million paid subscribers, down 20.6% year over year.Latin America’s (LATAM) revenues of $964 million increased 22.2% year over year, contributing 12.5% of total revenues. ARPU grew 17% from the year-ago quarter on a foreign-exchange neutral basis.Paid-subscriber base rose 6.4% from the year-ago quarter to 39.96 million. The company added 0.97 million paid subscribers, down 19.8% year over year.Asia Pacific’s (APAC) revenues of $871 million soared 27.2% year over year and accounted for 11.3% of total revenues. Netflix witnessed strong growth in both Japan and India.ARPU increased 2% year over year on a foreign-exchange neutral basis.Paid-subscriber base jumped 28% from the year-ago quarter to 32.63 million. The company added 2.58 million paid subscribers, up29.6% year over year.Content DetailsNetflix’s fourth-quarter content slate included returning seasons of The Witcher (484 million hours viewed), You (468 million hours viewed), Emily in Paris (287 million hours viewed), Cobra Kai (274 million hours viewed) and Maid (469 million hours viewed).Korean thriller Squid Game was viewed for 1.65 billion hours in its first four weeks and is now Netflix’s biggest TV season ever. The fourth quarter also featured the conclusion of La Casa de Papel aka Money Heist (6.7 billion hours viewed over its lifetime).Hit movies in the reported quarter included Red Notice (364 million hours viewed in its first four weeks), The Unforgivable (215 million hours viewed), Army of Thieves (158 million hours viewed), Love Hard (134 million hours viewed), Back to the Outback (105 million hours viewed) and The Harder They Fall (122 million hoursviewed).Don’t Look Up, released on Christmas Eve, was viewed for 353 million hours, making the movie the second most popular movie ever in Netflix’s history.In November, Netflix launched mobile games on Android and iOS. Currently, ten games are available within the Netflix mobile app.Operating DetailsMarketing expenses increased 4% year over year to $792.7 million. As a percentage of revenues, marketing expenses decreased 120 basis points (bps) to 10.3%.Operating income declined 33.8% year over year to $631.8 million. Operating margin contracted 620 bps on a year-over-year basis to 8.2%.Balance Sheet & Free Cash FlowNetflix had $6.03 billion of cash and cash equivalents as of Dec 31, 2021, compared with $7.52 billion as of Sep 30, 2021.Long-term debt was $14.7 billion as of Dec 31, 2021, unchanged from Sep 30, 2021.Streaming content obligations were $23.16 billion compared with $22.4 billion as of Sep 30, 2021.Netflix reported free cash outflow of $569 million compared with free cash flow outflow of $106.3 million in the previous quarter.GuidanceFor the first quarter of 2022, Netflix forecasts earnings of $2.86 per share, indicating 23.7% decline from the figure reported in the year-ago quarter.The Zacks Consensus Estimate for the same is pegged at $3.43 per share, currently higher than the company’s expectation, indicating decline of 8.53% from the figure reported in the year-ago quarter.Total revenues are anticipated to be $7.903 billion, suggesting growth of 10.3% year over year. The consensus markfor revenues stands at $8.11 billion, higher than the company’s expectation and indicating 13.29% growth from the figure reported in the year-ago quarter.Operating margin is projected at 25.5% compared with 22.1% in the year-ago quarter.For 2022, Netflix expects operating margin between 19% and 20% compared with 21% reported in 2021. Operating margin is expected to suffer from unfavorable forex (roughly 2% negative impact). 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 Apple Inc. (AAPL): Free Stock Analysis Report Comcast Corporation (CMCSA): Free Stock Analysis Report Netflix, Inc. (NFLX): Free Stock Analysis Report The Walt Disney Company (DIS): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research.....»»

Category: topSource: zacksJan 21st, 2022

Fake It Til You Make It

    “And I know I’m fakin’ it, I’m not really makin’ it.” –Simon & Garfunkle   I purposefully waited a few weeks after the Elizabeth Holmes verdict before weighing in on the entire Theranos debacle. The reason: I want to distinguish between 3 issues: 1) Outright “fraud” 2) the hustle subculture known as “fake it… Read More The post Fake It Til You Make It appeared first on The Big Picture.     “And I know I’m fakin’ it, I’m not really makin’ it.” –Simon & Garfunkle   I purposefully waited a few weeks after the Elizabeth Holmes verdict before weighing in on the entire Theranos debacle. The reason: I want to distinguish between 3 issues: 1) Outright “fraud” 2) the hustle subculture known as “fake it till you make it” 3) the Venture Capital strategy of buying into the idea of an as yet unproven technology. We all know about fraud: From Enron to Bernie Madoff to the GFC Fraudclosure, finance has had endless examples. If you do not know what Fraud is you probably cannot afford to pay for internet access to read this, as the fraudsters will have already emptied out your bank account. “Fake it til you make it” was not about criminality, it was more about an attitude. It was part of ye olde Wall Street (watch the 1987 movie), and manifest as a false bravado that served to hide a green broker’s lack of expertise. There was a distinct pecking order on Wall Street among traders, brokers, bankers, and others in finance; showing a little bit of confidence might at least get you a phone call or a meeting to make your sales pitch. But I do not believe that showing a little brio is remotely similar to that what took place at Theranos. As was revealed by John Carreyrou in his WSJ reporting and in his book “Bad Blood,” the founders had no expertise, no promising technology, no medical training. Reading the book, it appears the foundation of the entire enterprise was built upon a mix of wishful thinking and self-deception. (See Red Flags Everywhere). Venture capital seeks to invest in products of tomorrow, services that very often do not exist yet. Skillful VCs have some ideas about where markets and demand might be a few years out, and (cliché alert) they skate to where the puck will be. But it is a very different thing to make a wager about one possible future, which by design is highly likely to fail versus outright fraud. Building out an idea that does not find a market is one thing, but it’s quite different from lying about a medical product that simply cannot do what you claim, never could, and has no basis in reality. There are endless good ideas out there that might not be financially lucrative to create: Lots of apps and consumer products and software programs and others. The entire biotech space is populated with companies whose new molecules or novel techniques might — if it were to get sufficient funding to run endless tests — cure or even resolve a particular health issue. Or not, we really do not know until we have more development in the lab and much more testing. That was not what occurred with Holmes. Theranos engaged in fraud, misled investors, and put people’s actual health at risk in pretending their machines did what they could not. It is not a surprise she got caught; given all the red flags the real surprise is that she got away with it for as long as she did. For that, we need to look to her enablers . . .       Previously: The Bad Blood at Theranos (May 30, 2018) MiB: John Carreyrou author of Bad Blood, on Theranos (July 21, 2018) Transcript: John Carreyrou on Theranos (July 22, 2018)     Red Flags Everywhere 1. The founder had no medical training, no medical-device experience and no health-care background; nor did the firm’s second-in-command. 2. None of the (original) directors came from the medical-devices or health-care industries. 3. No outside investors were allowed to closely examine the company’s machines; there were no peer reviewed papers covering the medical breakthroughs the company claimed. 4. Secrecy at Theranos was excessive — much more extensive than the usual tech nondisclosure agreements. 5. Staff turnover was extremely high; the chief financial officer left early in the company’s life. 6. Venture capitalists with experience in medical devices, health care or biotech all took a pass on investing in Theranos. 7. Early pilot programs with well-known health-care and medical companies were either not renewed or terminated outright. 8. Promised reports on the proprietary technology’s performance were never delivered, despite repeated promises from the CEO. 9. Threats of litigation against former employees and staff were aggressive and rampant. 10. The board had no control; Holmes held 99 percent of voting shares; the board was stocked with faded stars of yesteryear, many in their 80s and 90s. –The Bad Blood at Theranos   The post Fake It Til You Make It appeared first on The Big Picture......»»

Category: blogSource: TheBigPictureJan 21st, 2022

Chinese Spy Infiltrated UK Parliament, Britain’s MI5 Spy Service Warns

Chinese Spy Infiltrated UK Parliament, Britain’s MI5 Spy Service Warns By Alexander Zhang of The Epoch Times, Britain’s MI5 security agency has warned that an agent of the Chinese regime has been active in the UK Parliament. An alert issued by the agency said an individual named Christine Ching Kui Lee has been “knowingly engaged in political interference activities on behalf of the United Front Work Department (UFWD) of the Chinese Communist Party (CCP).” It said Lee has been facilitating financial donations to political parties and politicians, and warned that anyone contacted by her should be “mindful of her affiliation with the Chinese state and remit to advance the CCP’s agenda in UK politics.” Screengrab of an alert issued by the Office of the Speaker of the House of Commons of an MI5 Security Service Interference Alert (SSIA) warning that Christine Ching Kui Lee is “an agent of the Chinese government,” issued on Jan. 12, 2022. (PA) The alert was made public by Sir Iain Duncan Smith, a former leader of the Conservative Party, who called it “a matter of grave concern.” He called for Lee to be deported and demanded the government make a statement to the House of Commons. Tobias Ellwood, a Conservative former minister who now chairs the Commons Defence Committee, said: “This is the sort grey-zone interference we now anticipate and expect from China. But the fact that it’s happened to this Parliament, there must be a sense of urgency from this government.” According to MI5’s “Security Service Interference Alert” sent to Parliament, Lee has “acted covertly in co-ordination with the UFWD and is judged to be involved in political interference activities in the UK.” It said: “We judge that the UFWD is seeking to covertly interfere in UK politics through establishing links with established and aspiring parliamentarians across the political spectrum. The UFWD seeks to cultivate relationships with influential figures in order to ensure the UK political landscape is favourable to the CCP’s agenda and to challenge those that raise concerns about CCP activity, such as human rights.” MI5 said Lee had been “engaged in the facilitation of financial donations to political parties, parliamentarians, aspiring parliamentarians and individuals seeking political office in the UK, including facilitating donations to political entities on behalf of foreign nationals.” Although Lee has publicly stated that her activities are to “represent the UK Chinese community and increase diversity,” the security agency noted that her activities have been undertaken “in covert co-ordination with the UFWD, with funding provided by foreign nationals located in China and Hong Kong.” It revealed that Lee has “extensive engagement with individuals across the UK political spectrum,” including through the All-Party Parliamentary Chinese in Britain Group, which has been disbanded. Barry Gardiner, a Labour MP who received donations of more than £500,000 ($687,000) from Christine Lee between 2015 and 2020, said he had been “liaising with our security services” for many years about her. He said the UK security services “have always known, and been made fully aware by me, of her engagement with my office and the donations she made to fund researchers in my office in the past.” He said all the donations were properly reported and “their source verified at the time,” and added, “I have been assured by the Security Services that whilst they have definitively identified improper funding channelled through Christine Lee, this does not relate to any funding received by my office.” Gardiner said Christine Lee’s son, who had been employed as his diary manager, resigned earlier on Thursday, adding that the security services have advised him that “they have no intelligence that shows he was aware of, or complicit in, his mother’s illegal activity.” Bob Seely, a Conservative MP who is a member of the Commons Foreign Affairs Committee, said it is “clearly serious that there appear to be actual agents of a foreign, adversarial power in Parliament.” “I do fear that we have been complacent about the threat posed by the Chinese communist regime,” he told the PA news agency. Tyler Durden Sat, 01/15/2022 - 07:00.....»»

Category: blogSource: zerohedgeJan 15th, 2022

Take Advantage Of Elevated Volatility With Covered Call Options

High volume selling since early-November has been driven up volatility premiums on options across the equity market, generating rich Theta-catching opportunities It's once again time to start thinking about covered calls as monetary uncertainty in the face of unending COVID-fueled inflation induces a market pullback. The high volume selling (specifically in high-growth equities) we've seen since before Thanksgiving has been driven up implied volatility (IV) on options across the equity market, presenting us with generous Theta-catching opportunity.Covered calls will allow you to capture returns on stocks you already own or buy new shares of enterprises you've waiting to acquire at a discount.What's A Covered Call? Implementing a covered call strategy involves selling out-of-the-money call options on a stock that you own or want to purchase and collecting the premium that each call option yields you. This means that you are effectively sell-short the options contract.Your P&L on this option play would be inverse to the call's premium because you are effectively short in the derivatives market once you enter the trade. However, the underlying shares that you own protect you from any losses (aka covered call), making these trades risk-free (if you don't account for opportunity loss if the underlying stock soars above your strike).When executing a play like this, you must remember that each option contract represents 100 shares. Meaning you should only write (or sell) call contracts for each block of 100 shares that you own or would like to own.The Greeks To Focus OnTheta represents the time-value depreciation of an option's premium each day under the assumption the underlying security does not move. Theta can be seen as the daily return on a covered call option.It represents the expected daily returns of a covered call, assuming that the strike price is not reached prior to expirations. Theta (quoted as a negative figure) and implied volatility are directly correlated on an absolute value basis (aka disregarding -/+ signs).Theta and Vega, an option's sensitivity to implied volatility, are the most meaningful metrics to focus on when implementing a covered call strategy. As an option seller, we want Theta (expected daily returns) to be high on an absolute basis, while Vega (volatility risk) remains low.When assessing opportunities for covered calls, I'm looking for options with an IV of 50% or higher in combination with a Theta to Vega ratio that exceeds 0.25. The higher the Theta Vega ratio, the better the risk/reward outlay for option sellers (no matter what your strategy).Risk Of Writing Uncovered CallSelling call options is extraordinarily dangerous if you don't own the underly security because your downside is unlimited (similar to short selling a stock except leveraged due to the nature of options nature).To help you conceptualize this, imagine you sold a 1-Year out Alphabet (GOOGL) call in September 2020 for a September 2021 monthly contract (Sept 17th Exp.) at a $2,500 strike for a quoted $20 per share premium, with zero shares held.Now, most people in their right mind would think that there is absolutely no way that GOOGL, trading at $1,450 at the time, would be able to rally over 72% in the next year. Perceptively it was a 'low-risk trade,' despite not owning the $145,000 worth of stock needed to make this trade truly risk-free (100 shares).This trade would have provided an immediate credit of $2,000 ($20 quoted per share premium x 100 shares = $2,000), but as GOOGL rallied, your position would have quickly turned against you. Since you are short the call, every dollar the premium moves up is a dollar against your position as you would have to repurchase the call at market value to flatten your trade.Let's say you held on to this until it expired, assuming you didn't have the required shares on hand, you not only would have lost the entire $2,000 premium that you were credited a year prior but would now have to pay the difference between the $2,500 strike and $2,816 spot price of the stock. This would have run you $31,600, (($2,816 – $2,500) x 100 = $31,600).This trade risked an endless amount of capital for a measly upside of $2,000. Your brokerage account would have almost certainly sent you a risk alert or a margin call before you were able to lose this much (likely requiring $50k in liquidity), but this exemplifies the outsized risks involved in selling an uncovered call option.Now let's say you did own the necessary underlying shares when you sold the 1-year call on GOOGL (covered call). The trade would have yielded you the initial $2,000 credit, and you would have been making money on the underlying shares all the way up to $2,500. The transaction would have returned you ($2,500 - $1,450) x 100 + $2,000= $107,000 or a 74% profit.Since you owned the underlying shares, you still wanted the stock to go up, and the predetermined strike price you initially sold the call at was merely your exit price.How To Take Advantage FUD-fueled (fear, uncertainty, & doubt) market selloffs like these are the best times to execute a covered call strategy because the short-term surge in volatility causes the premium of these options to spike (seen as an increase in Theta on an absolute value basis). The higher the implied volatility (IV), the more uncertain the stock's future price is, which is reflected as an increase in the option's value. This allows you to capture a larger credit on the calls you would like to write.Remember only to sell calls that are tolerably out-of-the-money (above the market price of underlying shares) to ensure that you capture both the option credit and any potential upside in the share price if the stock does end up rallying to your strike price before expiration.There are a couple of crucial judgments you need to make when trading covered calls: what price you are willing to sell your stock at and whether you believe the market's volatility?If I write longer-term covered calls (6 to 18 months till exp.), I typically choose a strike price that I have predetermined as my price target (where I am willing to let go of the stock). If I'm selling a short-term covered call (1 week to 3 months till exp.) I can take advantage of near-term volatility, with the flexibility to roll the calls over each time the prior one expires if the volatility sustains (similar to a high-yielding fixed-income security).Buy-In StrategyIf you are looking to add equities to your portfolio with a size of 100 shares or more, it may be prudent to sell a call option simultaneously. Growth-oriented tech stocks are what I am focused on because of this cohort's significant valuation compression in recent months (50%+ declines in some cases) and the volatile premium on these already naturally high IV names is creating Theta-rich environment for generous returns on cover-call options.Stocks I'm looking to add are positioned for the next generation economy like AI-power customer service automator Twilio TWLO, best-in-class cybersecurity platform CrowdStrike CRWD, and real-time machine data management powerhouse Splunk SPLK. These stocks have long-term winners but are experiencing significant short-term uncertainty in the face of an increasingly hawkish Fed and broader market pressures from the latest COVID-variant (Omicron).These nascent tech enterprises hold a leadership position in their niche operating segments and have a compelling growth narrative that shouldn't be ignored. They will undoubtedly play a vital role in the commencing 4th Industrial Revolution, which is already rapidly digitalizing our global economy.Take a look at your portfolio and examine stocks where you hold a 100+ share position (1 call per 100 share block), with the highest IVs to capture the most Theta. This call selling tactic will not make you rich quick, but it is a savvy way to capture returns in a down-trending market.Make sure you are willing to exit these covered call positions at the strike price you chose. I am looking to sell March 18th expiring calls (the most liquid short-term monthly contracts), which will allow me catch volatility in this pivotal Q4 earnings season and provide the ability to roll these calls over if FUD continues to plague the market.I remain bullish as we enter the first earnings season of 2022 and am buying this dip in public equities.Happy Trading!Dan LaboeEquity Strategist & Editor of The Headline Trader Portfolio Bitcoin, Like the Internet Itself, Could Change Everything Blockchain and cryptocurrency has sparked one of the most exciting discussion topics of a generation. Some call it the “Internet of Money” and predict it could change the way money works forever. If true, it could do to banks what Netflix did to Blockbuster and Amazon did to Sears. Experts agree we’re still in the early stages of this technology, and as it grows, it will create several investing opportunities. Zacks’ has just revealed 3 companies that can help investors capitalize on the explosive profit potential of Bitcoin and the other cryptocurrencies with significantly less volatility than buying them directly. See 3 crypto-related 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 Splunk Inc. (SPLK): Free Stock Analysis Report Twilio Inc. (TWLO): Free Stock Analysis Report CrowdStrike (CRWD): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research.....»»

Category: topSource: zacksJan 14th, 2022

Keysight (KEYS) 5G Validation Tools Chosen by Eurofins E&E Taiwan

Keysights (KEYS) 5G network emulation solutions facilitate end-to-end processes from development to deployment, accelerating the 5G device architecture. Keysight Technologies, Inc. KEYS recently announced that Eurofins Electrical & Electronics (“E&E”) Taiwan have selected its 5G validation tools to secure the growing 5G regulatory market in the South East Asian country. The deal for an undisclosed amount is likely to maintain the quality standards of 5G equipment that are deployed across Taiwan and strengthen Eurofins E&E’s position as a leading compliance testing provider in the region.With offices in Europe, North America and Asia, Eurofins E&E operates a global network of accredited laboratories offering electronic compliance testing, inspection and certification services. It adheres to stringent validation requirements, serving an array of industries spanning industrial and consumer product ranges.The Taiwan unit of this firm aims to leverage Keysight’s software-driven signal analysis and network emulation platforms to expand its test laboratory’s 5G device validation services. These include the E7515B UXM 5G wireless test platform, E5080B vector network analyzer, F9650A Compact Antenna Test Range (CATR) chamber and N9020B MXA signal analyzer. While the F9650A CATR chamber supports over-the-air testing in mmWave frequency range, Keysight’s E5080B vector network analyzer and N9020B MXA signal analyzer measure radio frequency characteristics and functional testing metrics, respectively. These integrated testing tools based on common software and hardware platforms address a wide range of validation scenarios across any 3GPP-defined frequency band.Keysight boasts a robust 5G portfolio. The company’s 5G product design validation solutions ranging from Layer 1 to 7 enable telecom and semiconductor companies to accelerate their 5G initiatives. Further, Keysight’s 5G network emulation solutions facilitate end-to-end processes from development to deployment, accelerating the 5G device architecture. The solutions offer cost-efficient test techniques with high flexibility and control capabilities, reducing time-to-market. Intensive infrastructure investments in 5G deployment and positive trial testing results across the globe are likely to drive the long-term growth of the company.Apart from strength in 5G domain, Keysight’s efforts in other emerging growth markets like IoT and high-speed data centers, bode well for the top line. Particularly, management’s focus on Automotive and Energy and Aerospace and Defense domains augurs well in the long haul. Moreover, estimated higher spending on aerospace and defense as reflected in the fiscal 2022 defense budget proposal bodes well. The company is expected to benefit from the growing proliferation of electronic content in vehicles, momentum in space and satellite applications and the rising adoption of driver-assistance systems globally.The stock has gained 27.6% over the past year compared with the industry’s growth of 31%. We remain impressed with the inherent growth potential of this Zacks Rank #2 (Buy) stock. Image Source: Zacks Investment ResearchAnother top-ranked stock in the industry is Advantest Corporation ATEYY, carrying a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.Over the past year, Advantest has gained a modest 21.1%. Earnings estimates for the current year for the stock have moved up 29% over the past year, while that for the next fiscal is up 39.2%. Advantest delivered an earnings surprise of 26.7%, on average, in the trailing four quarters.inTEST Corporation INTT, carrying a Zacks Rank #2, is another solid pick for investors. It delivered an earnings surprise of 20.9%, on average, in the trailing four quarters and has a long-term growth expectation of 10%.Over the past year, the stock has gained a solid 92.6%. Earnings estimates for the current year for INTT have moved up 150% since January 2021. The company remains focused on its 5-Point strategy to achieve holistic growth across its businesses.Vocera Communications, Inc. VCRA sports a Zacks Rank #1. It has a long-term earnings growth expectation of 18% and delivered a stellar earnings surprise of 109.6%, on average, in the trailing four quarters.Over the past year, Vocera has gained 76.5%. It offers an all-inclusive digital platform for hands-free communication via secure text messaging, alert and alarm management. Leveraging a patent-protected, enterprise-class server software, Vocera provides an advanced clinical rules engine that simultaneously unifies data from multiple sources, prioritizes notifications and sends messages to the right care team members. This, in turn, augments clinical workflow by enabling the interoperability of the solution with a significant number of clinical and operational systems used in hospitals today. Infrastructure Stock Boom to Sweep America A massive push to rebuild the crumbling U.S. infrastructure will soon be underway. It’s bipartisan, urgent, and inevitable. Trillions will be spent. Fortunes will be made. The only question is “Will you get into the right stocks early when their growth potential is greatest?” Zacks has released a Special Report to help you do just that, and today it’s free. Discover 5 special companies that look to gain the most from construction and repair to roads, bridges, and buildings, plus cargo hauling and energy transformation on an almost unimaginable scale.Download FREE: How to Profit from Trillions on Spending for Infrastructure >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report inTest Corporation (INTT): Free Stock Analysis Report Vocera Communications, Inc. (VCRA): Free Stock Analysis Report Keysight Technologies Inc. (KEYS): Free Stock Analysis Report Advantest Corp. (ATEYY): Free Stock Analysis Report To read this article on Zacks.com click here......»»

Category: topSource: zacksJan 14th, 2022

Futures Slide After Disappointing JPMorgan Earnings, Tech Rout Worsens

Futures Slide After Disappointing JPMorgan Earnings, Tech Rout Worsens After trading flat for much of the overnight session, S&P futures slumped to session lows shortly after JPM reported earnings that disappointed the market (see our full write up here) and were last trading down 30 points or 0.64%, with Dow futures down 0.3% and Nasdaq futures taking on even more water as the "sell tech" trade was back with a bang. Treasury yields rose 3bps to 1.74% and the dollar reversed an overnight loss. The VIX jumped above 20 and was last seen around 21. The Nasdaq 100 fell to the lowest in almost three months yesterday as tech came under pressure after Fed Governor Lael Brainard said officials could boost rates as early as March. It looks like the selling will continue today. “Market sentiment has been shaken by concerns over the prospect of imminent Fed tightening along with record global Covid-19 infection rates, but we don’t expect either of these factors to end the equity rally,” said UBS Wealth Management CIO Mark Haefele in a note. “The fourth-quarter U.S. earnings season, which started this week, could turn investor attention back to strong fundamentals.” JPMorgan shares dropped in premarket trading after revenues and EPS beat thanks to a $1.8 billion reserve release while FICC trading revenue missed expectations even as its dealmakers posted their best quarter ever and Chief Executive Officer Jamie Dimon gave an upbeat assessment of prospects for growth. Wells Fargo advanced after reporting higher-than-estimated revenue. BlackRock Inc. became the first public asset manager to hit $10 trillion in assets, propelled by a surge in fourth-quarter flows into its exchange-traded funds. Here are some of the other notable pre-movers today: U.S.-listed casino stocks with operations in Macau rise after the announcement of much-anticipated changes to the local casino law aimed at tightening government oversight on the world’s largest gaming market. Las Vegas Sands (LVS US) +6.6%; Melco Resorts (MLCO US) +5.5%; Wynn Resorts (WYNN US) +5.6%. Apple (AAPL US) shares are up in U.S. premarket trading after Piper Sandler raises its target for the stock, saying that Apple’s set-up for 2022 is favorable. Broker adds that the tech giant’s venture into health-care and automotive markets are the next catalysts to drive the stock to a $4 trillion market cap and beyond. NextPlay Technologies (NXTP US) shares jump 19% in U.S. premarket trading after giving an update for fiscal 3Q 2022 late yesterday. Domino’s Pizza (DPZ US) is cut to equal-weight from overweight at Morgan Stanley, while Chipotle is upgraded to overweight from equal-weight amid a “mixed” view on restaurant stocks into 2022. Amicus Therapeutics (FOLD US) advanced in postmarket trading after being upgraded to outperform from market perform at SVB Leerink, which cited the potential of a treatment for Pompe disease, should it be approved. Spirit Realty dropped 4% postmarket after launching a share sale via Morgan Stanley and BofA Securities. European equities traded poorly and followed the drop in Asia, with most sectors trading lower, weighed down once again by a soft tech sector. Euro Stoxx 50 is down 0.8%, most major indexes dropped over 1% before rising off the lows. Oil & gas is the best Stoxx 600 performer with crude trading well. European technology stocks as well as pandemic winners are leading declines after a U.S. selloff in tech shares resumed Thursday as Federal Reserve officials signaled their intention to combat inflation aggressively.  European chipmakers are down in early trading Friday: ASM International -3.5% at 9.17 a.m. CET, Infineon -0.9%, ASML -2.9%, STMicroelectronics -2.3%. Meanwhile, energy and automakers outperformed. Utilities were also in focus as French nuclear energy producer Electricite de France SA (EDF) plunged by a record as the French government confirmed plans to force it to sell more power at a steep discount to protect households from surging wholesale electricity prices, a move that could cost the state-controlled utility 7.7 billion euros ($8.8 billion) at Thursday’s market prices. There was some good news: a majority of strategists still see the rally in European equities continuing this year. The Stoxx Europe 600 Index will rise about 5.2% to 511 index points by the end of 2022 from Wednesday’s close, according to the average of 19 forecasts in a Bloomberg survey. Equity funds once more led inflows among asset classes in the week through Jan. 12, as investors reduced cash holdings, according to BofA and EPFR Global data. Earlier in the session, Asian stocks slid as investors offloaded technology shares on growing speculation the Federal Reserve will raise interest rates in March.  The MSCI Asia Pacific Index fell as much as 1.3% before paring losses to 0.7% in afternoon trading. Alibaba, Keyence and Sony Group were among the largest contributors to the benchmark’s slide. The Hang Seng Tech Index, which tracks China’s biggest tech firms, closed down 0.5%. Electronics makers also dragged down indexes in Japan and South Korea, with benchmarks in both nations leading the region’s drop. China’s CSI 300 Index closed at its lowest since November 2020. Asian stocks have been whipsawed this year by remarks from Fed officials as investors try to gauge the timing and scope of the anticipated interest rate hikes. The renewed weakness on Friday was triggered by comments from Fed Governor Lael Brainard, who said officials could boost rates as early as March to ensure that price pressures are brought under control. “This kind of hawkishness and a rush for rate hikes is, of course, a minus for share prices,” said Ayako Sera, a market strategist at Sumitomo Mitsui Trust Bank in Tokyo. If the Fed were to increase rates in March, “investors will want to make sure the economy remains strong despite the monetary tightening before making their move,” Sera added.  With Friday’s moves, Asia’s benchmark is set to pare its weekly gain to about 1.6%, which would still be its best weekly performance since October.    In Japan, sentiment worsened as Tokyo raised its Covid alert to the second-highest of four levels as virus cases surged. South Korea’s Kospi was also weighed down as the central bank increased its policy rate for the third time in just five months In rates, Treasuries pared declines with stock index futures under pressure as U.S. day begins. Yields beyond the 2-year reached session highs inside Thursday’s ranges amid a global government bond selloff. Treasury yields are cheaper by 3bp to 4bp across the curve with 10- year yields around 1.7274%, fading a bigger loss earlier and slightly underperforming bunds and gilts. Asia session featured speculation about tighter global monetary policy. IG dollar issuance slate empty so far and expected to remain light ahead of U.S. holiday weekend with markets closed Monday; four names priced $3.8b Thursday. In FX, the Bloomberg dollar spot is little changed around worst levels for the week, while NOK, JPY and CAD top the G-10 scoreboard. The yen advanced, and is set for its largest weekly advance in more than a year as speculation about a shift in the Bank of Japan’s policy spurred a further unwinding of dollar longs. The five-year Japanese government bond yield climbed to a six-year high. The volatility term structure in dollar-yen shifted higher Friday and inverted. The euro was little changed around $1.1460 and European sovereign bond yields rose, with the core underperforming the periphery. Norway’s krone and the Canadian dollar advanced as oil prices rose, with Brent trading above $85 per barrel, while the Australian and New Zealand dollars were the worst performers. The pound extended its longest winning streak in nearly two months as the U.K. economy surpassed its pre-pandemic size in November for the first time. Sweden’s krona inched down, shrugging off data showing that the nation’s inflation rate rose to the highest level in 28 years In commodities, crude futures rally with WTI recovering to Wednesday’s best levels near $83 and Brent putting in fresh highs near $85.40. Spot gold is little changed a brief retest of the week’s highs, trading near $1,823/oz. Base metals are mixed: LME nickel adds about 2% extending its recent surge; copper holds a narrow range in the red Looking at the day ahead now, data releases include US retail sales, industrial production and capacity utilisation for December, along with the University of Michigan’s preliminary consumer sentiment index for January and the UK’s GDP for November. Central bank speakers include ECB President Lagarde and New York Fed President Williams. Lastly, earnings releases include Citigroup, JPMorgan Chase, Wells Fargo and BlackRock. Market Snapshot S&P 500 futures up 0.3% to 4,667.00 STOXX Europe 600 down 0.5% to 483.71 MXAP down 0.8% to 195.28 MXAPJ down 0.5% to 639.13 Nikkei down 1.3% to 28,124.28 Topix down 1.4% to 1,977.66 Hang Seng Index down 0.2% to 24,383.32 Shanghai Composite down 1.0% to 3,521.26 Sensex up 0.1% to 61,320.31 Australia S&P/ASX 200 down 1.1% to 7,393.86 Kospi down 1.4% to 2,921.92 German 10Y yield little changed at -0.08% Euro up 0.1% to $1.1467 Brent Futures up 0.8% to $85.16/bbl Gold spot up 0.1% to $1,823.97 U.S. Dollar Index little changed at 94.73 Top Overnight News from Bloomberg Federal Reserve Governor Christopher Waller said that three interest-rate increases this year was a “good baseline” but there may be fewer or even as many as five moves, depending on inflation The U.K. and the European Union agreed to intensify post-Brexit negotiations over Northern Ireland, as Foreign Secretary Liz Truss led the British side for the first time in a meeting at her official country residence Germany’s economy contracted by as much as 1% in the final quarter of 2021 as the emergence of the coronavirus’s omicron strain added to drags on output from supply snarls and the fastest inflation in three decades Japan’s Government Pension Investment Fund, the world’s largest, may mull investing in Chinese government bonds if the market situation improves, GPIF President Masataka Miyazono says at a press conference in Tokyo Ukraine said a cyberattack brought down the websites of several government agencies for hours. Authorities didn’t immediately comment on the source of the outage, which comes as tensions with Russia surge over its troop buildup near the border Russia won’t wait “endlessly” for a security deal with NATO and progress depends on the U.S., Foreign Minister Sergei Lavrov said Friday, keeping up pressure after a week of high-level talks with the West failed to yield noticeable progress Turkey’s newly appointed finance chief said the country’s inflation will peak months earlier and at a level far lower than predicted by top Wall Street banks The global pressures driving inflation higher represent a “major change in trends” and will keep price growth high for the foreseeable future, Bank of Russia Governor Elvira Nabiullina said North Korea appears to have fired two ballistic missiles into waters off its east coast-- in what could be its third rocket-volley test in less than 10 days -- hours after issuing a fresh warning to the Biden administration A more detailed look at global markets courtesy of Newsquawk Asian equity markets weakened amid headwinds from the US where all major indices declined led by losses in tech and consumer discretionary amid a slew of hawkish Fed speak, while mixed Chinese trade data added to the cautiousness in the region. ASX 200 (-1.1%) traded lower as tech and consumer stocks mirrored the underperformance of stateside peers and with nearly all industries on the back foot aside from utilities and gold miners. Nikkei 225 (-1.3%) briefly gave up the 28k level amid a firmer currency and source reports that BoJ policy makers are said to debate how soon they can begin signalling a rate hike. In terms of the notable movers, Fast Retailing was the biggest gainer after it reported a record Q1 net, followed by Seven & I Holdings which also benefitted post-earnings, while Hitachi Construction was at the other end of the spectrum after news that parent Hitachi will offload half its majority stake. KOSPI (-1.4%) eventually underperformed after the Bank of Korea hiked rates by 25bps for a third time in the current tightening cycle to 1.25%, as expected. BoK also noted that CPI is to stay in the 3% range for a while and BoK Governor Lee made it clear that rates will continue to be adjusted which has fuelled speculation of similar action at next month’s meeting. Hang Seng (-0.2%) and Shanghai Comp. (-1.0%) were also pressured with participants digesting the latest trade figures which showed weaker than expected Imports although Exports topped estimates. Nonetheless, the downside was somewhat limited amid ongoing expectations for PBoC easing to support the economy as the Fed moves closer towards a rate lift off and with some encouragement after Evergrande averted its first onshore debt default whereby bondholders approved a six-month postponement of bond redemption and coupon payments. Finally, 10yr JGBs retreated beneath the 151.00 level following the source report that suggested debate within the BoJ on how soon a rate increase can be signalled which could occur ahead of the 2% price target, while this coincided with an increase in the 5yr yield to a 6-year high and a weaker than previous 20yr JGB auction. Top Asian News Chinese Developer R&F Downgraded to Restricted Default by Fitch Macau Cuts Casino License Tenure, Caps Float as Controls Tighten Inflation Irks Asia as Japan Yields Hit Six-Year High, BOK Hikes China Builders’ Dollar Bonds Slump Further; Logan, KWG Lead The major cash equity indices in Europe remain subdued but off worst levels (Euro Stoxx 50 -0.7%; Stoxx 600 -0.6%) as the downbeat APAC mood reverberated into the region amid a slew of hawkish Fed speak, while the mixed Chinese trade data added to the concerns of a slowdown ahead of next week’s GDP metrics. Newsflow had overall been quiet during the European session ahead of the start of US earnings season, but geopolitical tensions remain hot on the radar after North Korea fired its third missile of the year (albeit landing outside Japan’s EEZ), whilst Russia closed all communication channels with the EU and exerted some time-pressure on Washington with regards to Moscow’s security demands. Back to trade, a divergence is seen between Europe and the US as the former catches up to the late accelerated sell-off on Wall Street yesterday; US equity futures have been consolidating with mild broad-based gains seen across the ES (+0.2%), YM (+0.2%), NQ (+0.2%) whilst the RTY (Unch) narrowly lags. Delving into Europe, the UK’s FTSE 100 (-0.1%) is cushioned by gains across its Oil & Gas and Financial sectors as crude oil prices and yields clamber off intraday lows, whilst the SMI (-0.3%) sees some losses countered by its heavyweight healthcare sector. Sectors in Europe are mostly in the red with a slight defensive tilt, although Oil & Gas stands as the top gainer and the only sector in the green. The downside meanwhile sees Tech following a similar sectorial underperformance seen on Wall Street and APAC overnight. In terms of individual movers, DAX-heavyweight SAP (-0.3%) conforms to the losses across tech after initially rising as a result of upgraded guidance and the announcement of a share buyback programme of up to EUR 1bln. The most notable mover of the day has been EDF (-17.5%) as the Co. withdrew guidance after noting the impact of new French price cap measures is forecast to be around EUR 8.4bln on FY22 EBITDA. Top European News EDF Slumps by Most on Record on Hit From Price Cap U.K. Economy Surpasses Pre-Pandemic Size With November Surge German Recovery Lags Rest of Europe on Supply Snarls, Inflation HSBC Markets Chief Georges Elhedery To Take Six-Month Sabbatical In FX, another lower low off a lower high does not bode well for the index and Buck more broadly, but some technicians will be encouraged by the fact that chart supports in the form of a Fib retracement and 100 DMA have only been breached briefly. Meanwhile, Friday may provide the Greenback with a prop via pre-weekend position squaring and US data could lend a hand if upbeat or better than expected at the very least. For now, the DXY is restrained between 94.887-626 confines, with the upside capped by a major trendline that falls just below 95.000 around 94.980, and the Dollar also hampered by pressure emanating outside the basket from the likes of the Yuan, crude oil and other commodities. CAD/JPY/GBP - The Loonie has reclaimed 1.2500+ status in line with a rebound in WTI towards Usd 83/brl, but still faces stiff trendline resistance vs its US counterpart at 1.2451 and probably conscious that several multi-billion option expiries roll off either side of the 1.2500 level today. Conversely, the Yen has cleared the psychological 114.00 hurdle with some fundamental impetus coming from hawkish BoJ source reports contending that policy-setters are contemplating how soon the Bank can telegraph a rate hike that is likely to be delivered prior to inflation reaching its 2% target. Elsewhere, Sterling remains elevated above 1.3700, though unable to scale 1.3750 even with tailwinds from stronger than forecast UK GDP and IP or a narrower than feared trade gap amidst ongoing political uncertainty. CHF/EUR/NZD/AUD - All narrowly divergent and contained against their US rival, with the Franc straddling 0.9100 and Euro holding within a 1.1483-51 range and immersed in hefty option expiry interest spanning 1.1395 to 1.1485 (see 7.01GMT post on the Headline Feed for details). On the flip-side, the Aussie and Kiwi have both lost a bit more momentum after probing 0.7300 and approaching 0.6900 respectively yesterday, and Aud/Usd appears to have shrugged off robust housing finance data in the run up to China’s trade balance revealing sub-consensus imports. SCANDI/EM - Firmer than anticipated Swedish CPI and CPIF metrics have not offered the Sek much support, as the stripped down core ex-energy print was in line and bang on the Riksbank’s own projection. However, the Huf has been underpinned by hot Hungarian inflation and the Cnh/Cny in wake of the aforementioned Chinese trade data showing a record surplus for December and 2021 overall. In Turkey, the Try is flattish following the latest CBRT survey that predicts a weaker year-end Lira from current levels, but above record lows and still well above target CPI, while in Russia the Rub is benefiting from Brent’s rise above Usd 85.50/brl (in keeping with the Nok) against the backdrop of geopolitical and diplomatic strains as the country’s Foreign Minister declares that all lines of communication with the EU have ended. In commodities, WTI and Brent front-month futures have been on an upward trajectory since the Wall Street close, with the former now above USD 83/bbl (vs 81.58/bbl low) and the latter north of USD 85.50/bbl (vs 83.99/bbl low) in European hours. Overall market sentiment has been a non-committal one amid a lack of fresh macro catalysts, however, geopolitical updates have been abundant: namely with Russia’s punchy rhetoric surrounding its security demand from NATO and Washington, whilst North Korea fired what is said to be ballistic missiles which landed just outside Japan’s Exclusive Economic Zone (EEZ). On the demand side of the equation, eyes remain on China’s economic and COVID situations, with the import figures indicating China's annual crude oil imports drop for the first time in 20 years, whilst the nation grounded further flights between the US due to its zero-COVID policy. On the supply side, reports suggested that China will release oil stockpiles in the run-up to the Lunar New Year (dubbed as the largest human migration). The release is part of a coordinated plan with the US and other major consumers, according to the reports, which cited sources suggesting China will likely ramp up its releases if prices top USD 85/bbl. Turning to metals, spot gold is trading sideways and prices waned after again hitting the resistance zone around USD 1,830/oz flagged earlier this week. LME copper meanwhile remains under USD 10,000/t – subdued by the sharp slowdown in Chinese imports suggesting weaker demand, albeit annual imports of copper concentrate hit a historic high in 2021. The trade data also indicated a fall in iron ore imports as a factor of the steel production curbs imposed last year to tackle pollution and high iron ore prices. US Event Calendar 8:30am: Dec. Import Price Index YoY, est. 10.8%, prior 11.7%; MoM, est. 0.2%, prior 0.7% Export Price Index YoY, est. 16.0%, prior 18.2%; MoM, est. 0.3%, prior 1.0% 8:30am: Dec. Retail Sales Advance MoM, est. -0.1%, prior 0.3% Dec. Retail Sales Ex Auto MoM, est. 0.1%, prior 0.3% Dec. Retail Sales Ex Auto and Gas, est. -0.2%, prior 0.2% Dec. Retail Sales Control Group, est. 0%, prior -0.1% 9:15am: Dec. Industrial Production MoM, est. 0.2%, prior 0.5% Capacity Utilization, est. 77.0%, prior 76.8% Manufacturing (SIC) Production, est. 0.3%, prior 0.7% 10am: Nov. Business Inventories, est. 1.3%, prior 1.2% 10am: Jan. U. of Mich. Sentiment, est. 70.0, prior 70.6; Expectations, est. 67.0, prior 68.3; Current Conditions, est. 73.8, prior 74.2 U. of Mich. 1 Yr Inflation, est. 4.8%, prior 4.8%; 5-10 Yr Inflation, prior 2.9% DB's Jim Reid concludes the overnight wrap There was no rest for markets either yesterday as the tech sell-off resumed in earnest, which came as fed funds futures moved to price in a 93% chance of a March rate hike, the highest closing probability to date. At the same time, however, the US dollar continued to weaken and has now put in its worst 3-day performance in over a year, having shed -1.25% in that time. And all this is coming just as earnings season is about to ramp up, with a number of US financials scheduled to report today ahead of an array of companies over the next few weeks. Starting with sovereign bonds, yields on 10yr Treasuries fell a further -3.9bps yesterday, their biggest decline since mid-December, to their lowest closing level in a week, at 1.704%, with most of the price action again happening during the New York afternoon. Lower inflation breakevens helped drive the decline, with the 10yr breakeven down -3.4bps after the producer price inflation data for December came in softer than expected. Indeed, the monthly gain of +0.2% (vs. +0.4% expected) was the slowest since November 2020, and in turn that left the year-on-year measure at +9.7% (vs. +9.8% expected), which is actually a modest decline from the upwardly revised +9.8% in November. As with the previous day’s CPI reading though, there was a more inflationary interpretation for those after one, as the core PPI measure came in at a monthly +0.5% as expected, leaving the year-on-year change at an above-expected +8.3% (vs. +8.0% expected). So something for everyone but no massive surprises either way. The latest inflation data came as numerous Fed speakers continued to match the recent hawkish tone, which helped strengthen investor conviction in the odds of a March hike as mentioned at the top. Philadelphia Fed President Harker said at an event that “My forecast is that we would have a 25 basis-point increase in March, barring any changes in the data”, and that he had 3 hikes pencilled in but “could be convinced of a fourth if inflation is not getting under control.” Separately, we heard from Governor Brainard, who appeared before the Senate Banking Committee as part of her nomination hearing to become Fed Vice Chair. She signalled that she would be open to a March hike as well, saying that they would be in a position to hike “as soon as asset purchases are terminated”, which they’re currently on course to do in March. Even President Evans, one of the most dovish members of Fed leadership, said a March rate hike and multiple hikes this year were a possibility. As it happens, today is the last we’ll hear from various Fed speakers for a while, as tomorrow they’ll be entering their blackout period ahead of the next FOMC announcement later in the month. Staying on the Fed, Bloomberg reported overnight that President Biden has picked three nominees for the vacant slots. They include Sarah Bloom Raskin, previously Deputy Secretary of the Treasury, who’s reportedly going to be nominated to become the Vice Chair of supervision, as well as Lisa Cook and Philip Jefferson, who’d become governors. Cook is an economics professor at Michigan State University, and Jefferson is an economics professor at Davidson College in North Carolina. All 3 would require Senate confirmation, and bear in mind those choices haven’t been officially confirmed as of yet. Over on the equity side, the main story was a further tech sell-off that sent both the NASDAQ (-2.51%) and the FANG+ index (-3.72%) lower for the first time this week, and taking the former to a 3-month low. That weakness dragged the S&P 500 (-1.5%) lower, though despite the stark headline numbers, it was only just over half of the shares in the index that were in the red on the day. Meanwhile in Europe, the STOXX 600 (-0.03%) also saw a modest decline, though the STOXX Banks (+1.10%) hit a fresh 3-year high after advancing for the 8th time in the last 9 sessions. Sovereign bond yields echoed the declines in the US too, with those on 10yr bunds (-3.1bps), OATs (-3.3bps) and BTPs (-4.6bps) all moving lower. Following that tech-driven fall overnight on Wall Street on the back of those hawkish comments, Asian stock markets are trading lower this morning. Japan's Nikkei (-1.42%) extended the previous session’s losses while briefly falling over -2%, as the Japanese Yen found a renewed bid amid the risk-off mood. Additionally, the Kospi (-1.37%) widened its losses, after the BOK lifted borrowing costs by 25bps to 1.25% amidst rising concerns about inflationary pressure. That takes the benchmark rate back to pre-pandemic levels after the central bank's 25bps rate increase in August and November last year. Meanwhile, the Korean government unveiled a supplementary budget worth 14 trillion won in size to continue providing support to the economy. Elsewhere, the Hang Seng index (-0.86%), CSI (-0.60%) and Shanghai Composite (-0.53%) have all moved lower as well. Data released in China showed that exports went up +20.9% y/y in December (vs +20.0% market expectations) albeit imports in December rose +19.5% y/y less than +28.5% as anticipated. That meant that they posted a trade surplus of $94.46bn last month, above the consensus forecast for a $74.50bn surplus. Looking ahead, futures on both the S&P 500 (-0.19%) and DAX (-0.79%) are pointing to further losses later on. Elsewhere in markets, yesterday saw another surge in European natural gas futures (+13.71%), albeit still at levels which are less than half of the peaks seen in mid-December. The latest moves came as Russia’s deputy foreign minister Sergei Ryabkov said that talks with the US had reached a “dead end”, amidst strong tensions between the two sides with Russia rejecting any further expansion of NATO as well as calls to pull back its forces from near Ukraine’s border. In response, the Russian ruble weakened -2.31% against the US dollar yesterday, whilst the MOEX stock index (-4.05%) suffered its worst daily performance since April 2020. Turning to the Covid-19 pandemic, the decline in UK cases continued to accelerate yesterday, with the number of cases over the past week now down -24% relative to the previous 7-day period. Looking at England specifically, the total number of Covid-19 patients in hospital is now down for a 3rd day running, and in London the total number in hospital is down to its lowest level since New Year’s Eve. To the day ahead now, and data releases include US retail sales, industrial production and capacity utilisation for December, along with the University of Michigan’s preliminary consumer sentiment index for January and the UK’s GDP for November. Central bank speakers include ECB President Lagarde and New York Fed President Williams. Lastly, earnings releases include Citigroup, JPMorgan Chase, Wells Fargo and BlackRock. Tyler Durden Fri, 01/14/2022 - 08:13.....»»

Category: dealsSource: nytJan 14th, 2022

10 Information Technology Stocks With Whale Alerts In Today"s Session

This whale alert can help traders discover the next big trading opportunities. Whales are entities with large sums of money and we track their transactions here at Benzinga on our options activity scanner. read more.....»»

Category: blogSource: benzingaJan 13th, 2022

10 Consumer Discretionary Stocks With Whale Alerts In Today"s Session

This whale alert can help traders discover the next big trading opportunities. Whales are entities with large sums of money and we track their transactions here at Benzinga on our options activity scanner. read more.....»»

Category: blogSource: benzingaJan 13th, 2022

7 Communication Services Stocks With Whale Alerts In Today"s Session

This whale alert can help traders discover the next big trading opportunities. Whales are entities with large sums of money and we track their transactions here at Benzinga on our options activity scanner. read more.....»»

Category: blogSource: benzingaJan 13th, 2022

The son of a woman named by MI5 as a suspected Chinese spy resigned from a Labour MP"s team

The son of a suspected Chinese agent resigned from a Labour MP's office after she was named by MI5. Labour MP for Brent North Barry Gardiner on September 28, 2021 in Brighton, England.Leon Neal/Getty Images The son of suspected Chinese agent Christine Lee worked for Labour MP Barry Gardiner until Thursday. Lee has donated more than £427,000 to Gardiner since 2015, records show. Lee also received a prestigious award from former Prime Minister Theresa May. The son of a woman identified as a suspected Chinese agent worked for Labour MP Barry Gardiner until he resigned "earlier today", the former shadow minister has said. MI5, the UK's Security Service, has issued an alert warning MPs and Lords that they should avoid Christine Lee. The notice, seen by Insider, said she had "knowingly engaged in political interference activities" on behalf of the Chinese Communist Party."Christine Lee's son [Daniel Wilkes] volunteered in my office many years ago and was subsequently employed by me as a diary manager," Gardiner said in a statement to Insider."He resigned from my employment earlier today. The Security Services have advised me that they have no intelligence that shows he was aware of, or complicit in, his mother's illegal activity."Gardiner, a longtime ally of former Labour leader Jeremy Corbyn, said he had been liasing with security services about Lee for "a number of years", adding: "They have always known, and been made fully aware by me, of her engagement with my office and the donations she made to fund researchers in my office in the past."The former shadow minister said: "Steps were taken to ensure Christine Lee had no role in either the appointment or management of those researchers. They are also aware that I have not benefitted personally from those donations in any way. She ceased funding any workers in my office in June 2020."Links between Gardiner and Lee are well-established and were reported on by outlets including The Times in 2017.In his email to MPs, Speaker Lindsay Hoyle said: "I should highlight the fact that Lee has facilitated financial donations s to serving and aspiring parliamentarians on behalf of foreign nationals based in Hong Kong and China."This facilitation was done covertly to mask the origins of the payments."A spokeswoman for the Speaker's office told Insider: "The Speaker takes the security of Members and the democratic process very seriously, which is why he issued this notice in consultation with the security services. There is no further comment on this matter."Tom Tugendhat MP, chair of the Foreign Affairs Select Committee and chair of the China Research Group, told Insider: "Our security services are rightly focussed on state threats in the UK."It is clear that the challenge from Beijing is increasing and we need to defend our democracy against hostile activity."The alert sent to parliamentarians, and sent by a source to Insider, can be seen below.Alert sent to Parliamentarians. The name and contact detail for the point of contact has been redacted by Insider.Security ServiceLee became a prominent figure within legal and political circles in recent years, receiving a prestigious "Points of Light" award from former Prime Minister Theresa May for founding the British Chinese Project, a nonprofit group that promoted "engagement, understanding, and cooperation" between the Chinese community and the UK.In a letter to Lee, May wrote: "You should feel very proud of the difference that 'The British Chinese Project' is making in promoting engagement, understanding, and cooperation between the Chinese and British communities in the UK. I also wish you well with your work to further the inclusion and participation of British-Chinese people in the UK political system."Footage uploaded to YouTube by the Chinese state broadcaster shows Lee, wearing blue, shaking hands with Chinese President Xi Jinping at a May 2019 meeting of the China Overseas Friendship Association.She is later seen directly behind the leader of the United Front system, a network of party and state agencies responsible for influencing groups outside the party, according to a 2020 report by the Australian Strategic Policy Institute.Read the original article on Business Insider.....»»

Category: topSource: businessinsiderJan 13th, 2022

MI5 issues a rare statement naming a woman it suspects is a Chinese agent and warning British politicians to avoid her

MI5 has named a solicitor, Christine Lee, as carrying out political interference activities on behalf of the Chinese Communist Party. A view of the Houses of Parliament from Westminster Bridge.(Photo by Hasan Esen/Anadolu Agency via Getty Images) MPs have been warned by MI5 about a woman suspected of working with the Chinese Communist Party. Christine Lee, a solicitor in London, was named as engaging in political interference activities. Lee's firm has given more than £427,000 to Labour MP Barry Gardiner since 2015, records show. MI5 has issued a rare warning to British politicians to avoid a woman suspected of being a Chinese agent.In a letter to British parliamentarians sent on Thursday, the UK's Security Service named Christine Lee, a solicitor, as having "knowingly engaged in political interference activities" on behalf of the Chinese Communist Party.Electoral Commission records show Lee's firm has given more than £427,000 in financial support to Labour MP Barry Gardiner since 2015.Lee's son has worked for Gardiner as a parliamentary aide, the Daily Mail reported, in what Gardiner described as an "open appointment process," and he said the son was given the job "on merit."MP Tom Tugendhat, chair of the Foreign Affairs Select Committee and chair of the China Research Group, told Insider: "Our security services are rightly focussed on state threats in the UK. It is clear that the challenge from Beijing is increasing and we need to defend our democracy against hostile activity."The woman's law firm, with offices in London, Birmingham, and Beijing, was chief legal adviser to the Chinese embassy in London, the Times reported.The alert, sent to Insider by a Westminster source, can be seen below.Alert sent to parliamentarians. The name and contact detail for the point of contact has been redacted by Insider.Security ServiceA spokeswoman for the Speaker's office said: "The Speaker takes the security of Members and the democratic process very seriously, which is why he issued this notice in consultation with the security services. There is no further comment on this matter."Gardiner's office has been contacted for comment. A spokesperson at Lee's office in London said she was not available at the moment.This is a developing story.Read the original article on Business Insider.....»»

Category: topSource: businessinsiderJan 13th, 2022

Bid alert: City of Orlando seeks design-build team for new Lake Nona-area facility

"We will select one team for this work.".....»»

Category: topSource: bizjournalsJan 13th, 2022

MI5 issues a rare statement naming a woman they suspect is a Chinese agent and warning British politicians to avoid her

MI5 has named a solicitor, Christine Lee, as carrying out political interference activities on behalf of the Chinese Communist Party. A view of the Houses of Parliament from Westminster Bridge.(Photo by Hasan Esen/Anadolu Agency via Getty Images) MPs have been warned by MI5 of the activities of an individual working with the Chinese Communist Party. Christine Lee, a solicitor with offices in London, was named as engaging in political interference activities. Lee's firm has given more than £427,000 in financial support to Labour MP Barry Gardiner since 2015, Electoral Commission records show. MI5 has issued a rare warning to British politicians to avoid a woman suspected of being a Chinese agent.In a letter to British parliamentarians sent on Thursday, the UK's Security Service named Christine Lee, a solicitor, as having "knowingly engaged in political interference activities" on behalf of the Chinese Communist Party.Electoral Commission records show Lee has given more than £427,000 in financial support to Labour MP Barry Gardiner since 2015.Lee's son has worked for Gardiner as a Parliamentary aide, the Daily Mail reported, in what Gardiner described as an "open appointment process", given the job "on merit".Tom Tugendhat MP, chair of the Foreign Affairs Select Committee and chair of the China Research Group, told Insider: "Our security services are rightly focussed on state threats in the UK.It is clear that the challenge from Beijing is increasing and we need to defend our democracy against hostile activity."Her law firm, with offices in London, Birmingham, and Beijing, was chief legal adviser to the Chinese embassy in London, the Times reported.The alert, sent to Insider by a Westminster source, can be seen below.Alert sent to Parliamentarians. The name and contact detail for the point of contact has been redacted by Insider.Security ServiceA spokeswoman for the Speaker's office said: 'The Speaker takes the security of Members and the democratic process very seriously, which is why he issued this notice in consultation with the security services. There is no further comment on this matter.'Gardiner's office has been contacted for comment. A spokesperson at Lee's offices in London said she was not presently available.This is a developing story...Read the original article on Business Insider.....»»

Category: topSource: businessinsiderJan 13th, 2022

Futures Flat Ahead Of Another Scorching PPI Print

Futures Flat Ahead Of Another Scorching PPI Print US futures were little changed on Thursday one day after the highest CPI print since 1982 and just minutes before another red hot PPI print is expected (9.8%, up from 9.6%), as investors tried to gauge the timing and pace of monetary tightening. S&P 500, Dow and Nasdaq 100 futures were up 0.1% as investors waited for the next trading signal. 10Y yields were flat around 1.74%, and the dollar edged lower as a growing tide of investors bet the world’s reserve currency has reached a peak with rate hikes largely priced-in to the market with Fed tightening likely to lead to an economic slowdown. “Markets in 2022 have been volatile as the reality of inflation set in, and this reaction mainly reflects relief that the print did not exceed already lofty expectations,” Geir Lode, head of global equities at the international business of Federated Hermes, said in an email. Inflation hitting 7% could force a quicker move by the Federal Reserve, with the market now pricing four rate hikes this year starting no later than March, according to technical analyst Pierre Veyret at ActivTrades in London. “Investors still struggle with one crucial question: how will the Fed manage to tackle rising price pressure without derailing the fragile post-pandemic economic recovery?” Sure enough, San Francisco Fed President Mary Daly and her Philadelphia peer Patrick Harker added their voices to the chorus in interviews published yesterday evening and this morning, calling for a rate hike as soon as March when odds of a rate hike have hit a new high of 90%. Attention today will be on the confirmation hearing of Lael Brainard in the Senate. The vice-chair nominee, who last publicly commented on the economic outlook in September, said in prepared remarks that tackling inflation is the bank’s “most important task.” In premarket trading, shares in Delta Air Lines rose more than 2% even though the carrier missed revenue and EPS expectations, after the company said the omicron variant won’t derail its expectation to remain profitable for the rest of the year, as it released fourth-quarter financial results. Here are some of the biggest U.S. movers today: U.S. chip stocks are mixed in premarket trading after sector bellwether TSMC gave a 1Q sales outlook that beat estimates and raised its projected annual capex versus last year. Equipment stock Applied Materials (AMAT US) +2% premarket, while TSMC customers are mixed with Apple (AAPL US) -0.1%, Nvidia (NVDA US) +0.7% and AMD (AMD US) +0.6%. Puma Biotechnology (PBYI US) shares surge 13% in U.S. premarket trading, after the company said that its Nerlynx treatment was included in the National Comprehensive Cancer Network’s (NCCN) clinical practice guidelines in oncology for the treatment of breast cancer. KB Home (KBH US) shares rise 6.2% in premarket trading after the homebuilder’s 4Q EPS beat estimates, with Wells Fargo calling the results and guidance “solid.” Planet Labs (PL US) shares rise 1.6% in U.S. premarket trading, after the satellite data provider said that it plans to launch 44 SuperDove satellites on Thursday on SpaceX’s Falcon 9 rocket. Adagio Therapeutics (ADGI US) said ADG20 has neutralization activity against omicron and cites recent findings from three publications on ADG20. Shares jumped 30% in post-market trading. Discussing yesterday's scorching CPI print, DB's Jim Reid writes that "if you did an MRI scan of US inflation yesterday you’d find things to support both sides of the debate which is surprising when it hit 7% YoY and the highest since 1982 when Fed Funds were more than 13% rather than close to zero as they are today. So a slightly different real rate to back then. In fact the real rate is through any level seen in the 1970s and is only comparable to WWII levels. Back to CPI and the YoY number was in line with expectations, but core and MoM figures were all a bit firmer than expected. However, the beats were small enough that the data didn’t significantly change the outlook for monetary policy, with Fed funds futures still pricing in an 89% chance of a March hike, which is roughly around where it’d been over the preceding days." In Europe, the Stoxx Europe 600 Index paused after a two-day advance, erasing early declines of as much as 0.3% to trade little changed, with technology and automotive shares offsetting losses in consumer products and health care. CAC 40 underperforms, dropping as much as 0.6%. The Stoxx Europe 600 Technology sub-index is up 1.1%, getting a boost from chip stocks which gained after sector bellwether TSMC gave a 1Q sales outlook that beat estimates and raised its projected annual capex versus last year. Geberit dropped as much as 4.5% to a seven-month low after the Swiss producer of sanitary installations reported fourth-quarter sales. Bloomberg Dollar Spot dips into the red pushing most majors to best levels of the session. NZD, AUD and GBP are the best G-10 performers. Crude futures maintain a relatively narrow range. WTI is flat near $82.70, Brent stalls near $84.84. Spot gold dips before finding support near $1,820/oz. Most base metals are in the red with LME zinc lagging peers.  Asian stocks were little changed after capping their biggest rally in a year, with health-care and software-technology names retreating while financials advanced. The MSCI Asia Pacific Index fluctuated between a drop of 0.3% and a gain of 0.2% on Thursday. Hong Kong’s Hang Seng Tech Index lost 1.8% after rising the most in three months in the previous session. Benchmarks in China and Japan were the day’s worst performers, while the Philippines and Australia outperformed.   “The market rose a bit too much yesterday,” said Mamoru Shimode, chief strategist at Resona Asset Management in Tokyo. “Investors keep shifting back and forth from value stocks to growth names and vise versa. It’s because we don’t know yet where U.S. long-term yields will end up settling around.”  The Asian stock measure jumped 1.9% Wednesday on views that the Federal Reserve’s anticipated rate hikes will help curb inflation and allow the global recovery to chug along. U.S. inflation readings overnight, at an almost four-decade high, were in line with expectations and helped investors keep previous bets Japanese stocks fell after Tokyo raised its Covid-19 alert to the second-highest level on a four-tier system. The Topix dropped 0.7% to 2,005.58 at the 3 p.m. close in Tokyo, while the Nikkei 225 declined 1% to 28,489.13. Recruit Holdings Co. contributed the most to the Topix’s decline, decreasing 4%. Out of 2,181 shares in the index, 500 rose and 1,604 fell, while 77 were unchanged. HIS, Japan Airlines and other travel shares fell. Tokyo’s daily cases jumped more than fivefold on Wednesday to 2,198 compared with 390 a week earlier. India’s benchmark equity index eeked out gains to complete its longest string of advances since mid-October, buoyed by the nation’s top two IT firms after their earnings reports. The S&P BSE Sensex rose for a fifth day, adding 0.1% to close at 61,235.30 in Mumbai, while the NSE Nifty 50 Index climbed 0.3%. Infosys and Tata Consultancy Services were among the biggest boosts to both measures. Of the 30 shares in the Sensex index, 19 rose and 11 fell. Thirteen of the 19 sector sub-indexes compiled by BSE Ltd. advanced, led by a gauge of metal companies.  Infosys’ quarterly earnings beat and bellwether Tata Consultancy Services’s better-than-expected sales offer some hope that the rally in India’s technology sector has further room to run, according to analysts. Still, Wipro sank the most in a year after its profit missed estimates Fixed income is relatively quiet, with changes across major curves limited to less than a basis point so far. The 10-year yield stalled around 1.75%, slightly cheaper on the day, and broadly in line with bunds and gilts. Eurodollar futures bear steepen a touch after a round of hawkish Fedspeak during Asian hours. Treasuries were steady with yields broadly within a basis point of Wednesday’s close.  Eurodollars are slightly lower across green- and blue-pack contracts after Fed’s Daly and Harker sounded hawkish tones during Asia hours. Across front-end, eurodollar strip steepens out to blue-pack contracts (Mar25-Dec25), which are lower by up to 4bp. 30-year bond reopening at 1pm ET concludes this week’s coupon auction cycle.$22b 30-year reopening at 1pm ET follows 0.3bp tail in Wednesday’s 10-year auction, and large tails in last two 30-year sales. The WI 30-year yield at ~2.095% is above auction stops since June and ~20bp cheaper than last month’s, which tailed the WI by 3.2bp. In FX, the pound advanced to its highest level since Oct. 29 amid calls for U.K. Prime Minister Boris Johnson to resign over a “bring your own bottle” party at the height of a lockdown meant to stem the first wave of coronavirus infections in 2020. The Bloomberg Dollar Spot Index held a two-month low as the greenback weakened against all of its Group-of-10 peers, and the euro rallied a third day as it approached the $1.15 handle. Implied volatility in the major currencies over the two- week tenor, that now captures the next Fed meeting, comes in line with the roll yet investors are choosing sides. The Australian dollar extended its overnight gain as the greenback declined following as-expected U.S. inflation. Iron ore supply concern also supported the currency. The yen hovered near a two-week high as long dollar positions were unwound. Japanese government bonds traded in narrow ranges. In commodities, cude futures maintain a relatively narrow range. WTI is flat near $82.70, Brent stalls near $84.50. Spot gold dips before finding support near $1,820/oz. Most base metals are in the red with LME zinc lagging peers. Bitcoin traded around $44,000 as the inflation numbers rekindled the debate about whether the cryptocurrency is a hedge against rising consumer prices. Expected data on Thursday include producer prices, an early indicator of inflationary trends, and unemployment claims. Market Snapshot S&P 500 futures little changed at 4,715.50 STOXX Europe 600 down 0.1% to 485.67 MXAP little changed at 196.79 MXAPJ up 0.1% to 643.93 Nikkei down 1.0% to 28,489.13 Topix down 0.7% to 2,005.58 Hang Seng Index up 0.1% to 24,429.77 Shanghai Composite down 1.2% to 3,555.26 Sensex up 0.1% to 61,220.38 Australia S&P/ASX 200 up 0.5% to 7,474.36 Kospi down 0.3% to 2,962.09 German 10Y yield little changed at -0.04% Euro up 0.2% to $1.1465 Brent Futures down 0.1% to $84.58/bbl Gold spot down 0.3% to $1,820.68 U.S. Dollar Index little changed at 94.83 Top Overnight News from Bloomberg Federal Reserve Bank of San Francisco President Mary Daly and her Philadelphia Fed peer Patrick Harker joined the ranks of officials publicly discussing an interest-rate increase as early as March as the central bank seeks to combat the hottest inflation in a generation Global central banks will diverge on the way they respond to inflation this year, creating risks to economies everywhere, Bank of England policy maker Catherine Mann said Norway’s race to appoint a new central bank governor is reaching a finale mired in controversy at the prospect of a political ally and friend of Prime Minister Jonas Gahr Store getting the job Italy’s government is working on a spending package that won’t require revising its budget to expand the deficit, people familiar with the matter said Several of China’s largest banks have become more selective about funding real estate projects by local government financing vehicles, concerned that some are taking on too much risk after they replaced private developers as key buyers of land, people familiar with the matter said A more detailed look at global markets courtesy of Newsquawk Asia-Pac stocks traded mixed following the choppy session in the US where major indices eked mild gains as markets digested CPI data in which headline annual inflation printed at 7.0%. ASX 200 (+0.5%) was underpinned as the energy and mining related sectors continued to benefit from the recent upside in underlying commodity prices, while Crown Resorts shares outperformed after Blackstone raised its cash proposal for Crown Resorts following due diligence inquiries. Nikkei 225 (-1.0%) declined with the index hampered by unfavourable currency flows and with Tokyo raising its COVID-19 alert to the second-highest level. Hang Seng (+0.1%) and Shanghai Comp. (-1.1%) were initially subdued, but did diverge later, after the slight miss on loans and aggregate financing data, while there is a slew of upcoming key releases from China in the days ahead including trade figures tomorrow, as well as GDP and activity data on Monday. In addition, the biggest movers were headline driven including developer Sunac China which dropped by a double-digit percentage after it priced a 452mln-share sale at a 15% discount to repay loans and cruise operator Genting Hong Kong wiped out around half its value on resumption of trade after it warned of defaults due to insolvency of its German shipbuilding business. Finally, 10yr JGBs traded rangebound and were stuck near the 151.00 level following the indecisive mood in T-notes which was not helped by an uninspiring 10yr auction stateside, while the lack of BoJ purchases in the market also added to the humdrum tone. Top Asian News Asia Stocks Steady After Best Rally in a Year; Financials Gain Country Garden Selloff Shows Chinese Developer Worries Spreading China Banks Curb Property Loans to Local Government Firms China’s True Unemployment Pain Masked by Official Data Bourses in Europe now see a mixed picture with the breadth of the price action also narrow (Euro Stoxx 50 Unch; Stoxx 600 -0.10%). The region initially opened with a modest downside bias following on from a mostly negative APAC handover after Wall Street eked mild gains. US equity futures have since been choppy within a tight range and exhibit a relatively broad-based performance with no real standout performers. Back in Europe, sectors are mixed and lack an overarching theme. Tech remains the outperformer since the morning with some follow-through seen from contract-chip manufacturer TSMC (ADR +4.3% pre-market), who beat on net and revenue whilst upping its 2022 Capex to USD 40bln-44bln from around USD 30bln the prior year, whilst the CEO expects capacity to remain tight throughout 2022. Tech is closely followed by Autos and Parts and Travel & Leisure, whilst the other end of the spectrum sees Healthcare, Oil & Gas, Retail and Personal & Household goods among the straddlers – with Tesco (-1.5%) and Marks & Spencer (-5.3%) weighing on the latter two following trading updates. In terms of other individual movers, BT (+0.5%) trades in the green amid reports DAZN is nearing a deal to buy BT Sport for around USD 800mln, a could be reached as soon as this month but has not been finalized. Turning to analyst commentary: Morgan Stanley’s clients have aligned themselves to the view that European equities will likely perform better than US counterparts. 45% of respondents see Financials as the top-performing sector this year, 14% preferred Tech which would be the lowest score in over six years. Top European News Johnson Buys Time With Apology But U.K. Tory Rage Simmers U.K. Retailers Slide as Updates Show Lingering Impact of Virus Wood Group Plans Sale of Built Environment Unit Next Quarter Just Eat Advisers Pitching Grubhub Sale or Take-Private: Sources In FX, the Dollar has weakened further in wake of Wednesday’s US inflation data as ‘buy rumour sell fact’ dynamics are compounded by more position paring and increasingly bearish technical impulses to outweigh fundamental factors that seem supportive, on paper or in theory. Indeed, the index only mustered enough recovery momentum to reach 95.022 on the back of hawkish Fed commentary and some short covering before retreating through the psychological level, then yesterday’s 94.903 low and another trough from late 2021 at 94.824 (November 11 base) to 94.710, thus far and leaving little bar the 100 DMA, at 94.675 today, in terms of support ahead of 94.500. However, the flagging Greenback could get a fillip via PPI and/or IJC, if not the next round of Fed speakers and final leg of this week’s auction remit in the form of Usd 22 bn long bonds. NZD/AUD - A change in the running order down under where the Kiwi has overtaken the Aussie irrespective of bullish calls on the Aud/Nzd cross from MS, with Nzd/Usd breaching the 50 DMA around 0.6860 on the way to 0.6884 and Aud/Usd scaling the 100 DMA at 0.7288 then 0.7300 before fading at 0.7314. GBP/EUR/CHF/CAD/JPY - Also extracting more impetus at the expense of the Buck, but to varying degrees as Sterling continues to shrug aside ongoing Tory party turmoil to attain 1.3700+ status and surpass the 200 DMA that stands at 1.3737, while the Euro has overcome Fib resistance around 1.1440, plus any semi-psychological reticence at 1.1450 to reach 1.1478 and the Franc is now closer to 0.9100 than 0.9150. Elsewhere, crude is still providing the Loonie with an incentive to climb and Usd/Cad has recoiled even further from early 2022 peaks beneath 1.2500 as a result, and the Yen is around 114.50 with scope for a stronger retracement to test the 55 DMA, at 114.22. SCANDI/EM - Some signs of fatigue as the Nok stalls on the edge of 9.9000 against the Eur in tandem with Brent just a few cents over Usd 85/brl, but the Czk has recorded fresh decade-plus highs vs the single currency following remarks from CNB chief Rusnok on the need to keep tightening and acknowledging that this may culminate in Koruna appreciation. The Cnh and Cny are firmer vs the Usd pre-Chinese trade and GDP data either side of the weekend, but the Rub is lagging again as the Kremlin concludes that there was no progress in talks between Russia and the West, but the Try is underperforming again with headwinds from elevated oil prices and regardless of a marked pick up in Turkish ip. In commodities, WTI and Brent front-month contracts have conformed to the indecisive mood across the markets, although the benchmarks received a mild uplift as the Dollar receded in early European hours. As it stands, the WTI Feb and Brent Mar contract both reside within USD 0.80/bbl ranges near USD 82.50/bbl and USD 84.50/bbl respectively. News flow for the complex has been quiet and participants are on the lookout for the next catalyst, potentially in the form of US jobless claims/PPI amid multiple speakers, although the rise in APAC COVID cases remains a continuous headwind on demand for now – particularly in China. On the geopolitical front, Russian-backed troops have reportedly begun pulling out of the 1.6mln BPD Kazakh territory, but Moscow’s tensions with the West do not seem to abate. Russia's Kremlin suggested talks with the West were "unsuccessful" – which comes after NATO’s Secretary-General yesterday suggested there is a real risk of a new armed conflict in Europe. Elsewhere, spot gold has drifted off best levels as the DXY found a floor, for now – with the closest support yesterday’s USD 1,813/oz low ahead of the 50 and 21 DMAs at USD 1,807/oz and USD 1,806.50/oz respectively. LME copper has also pulled back from yesterday’s best levels to levels under USD 10,000/t as the mood remains cautious, although, copper prices in Shanghai rose to over a two-month high as it played catch-up to LME yesterday. US Event Calendar 8:30am: Dec. PPI Final Demand YoY, est. 9.8%, prior 9.6%; MoM, est. 0.4%, prior 0.8% 8:30am: Dec. PPI Ex Food and Energy YoY, est. 8.0%, prior 7.7%; MoM, est. 0.5%, prior 0.7% 8:30am: Jan. Continuing Claims, est. 1.73m, prior 1.75m 8:30am: Jan. Initial Jobless Claims, est. 200,000, prior 207,000 DB's Jim Reid concludes the overnight wrap Today I have a first. I have two MRI scans. A fresh one on my back and one on my right knee which gave way as I was rehabbing (squats and lunges) the left knee after recent surgery. In my fifth decade of playing sport averagely, but vigorously, it’s all catching up with me very quickly. I’ve exhausted all strengthening exercise routines and injections on my back and the pain gets worse. My surgeon does not want to operate but we will see if he changes his mind after today. If he says play less golf I will walk out mid-meeting even if he may be medically correct. In contrast my knee surgeon is an avid skier and he keeps on doing things to prolong my skiing career even though I’ve said to him that I just really care about golf. So I’ll soon be looking for an avid golfer who just happens to be a back surgeon. Talking of confirmation bias, if you did an MRI scan of US inflation yesterday you’d find things to support both sides of the debate which is surprising when it hit 7% YoY and the highest since 1982 when Fed Funds were more than 13% rather than close to zero as they are today. So a slightly different real rate to back then. In fact the real rate is through any level seen in the 1970s and is only comparable to WWII levels. Back to CPI and the YoY number was in line with expectations, but core and MoM figures were all a bit firmer than expected. However, the beats were small enough that the data didn’t significantly change the outlook for monetary policy, with Fed funds futures still pricing in an 89% chance of a March hike, which is roughly around where it’d been over the preceding days. Looking at the details of the release, (our US econ team’s full wrap here) headline month-on-month number came in at +0.5% in December (vs. +0.4% expected), which is the 8thtime in the last 10 months that the print has come in above the consensus expectations on Bloomberg. However, that does still mark a deceleration from the +0.9% and +0.8% monthly growth in October and November respectively. The core CPI reading was also a touch stronger than anticipated, with the monthly print at +0.6% (vs. +0.5% expected), thus sending the annual core CPI measure up to +5.5% (vs. +5.4% expected) and its highest since 1991. Diving into some of the key sub-components, Covid-era favorite used cars and trucks grew +3.5% MoM. More concerning for policymakers, is the continued growth in persistent measures such as shelter, with primary and owners’ equivalent rent both increasing +0.4% MoM. If you were expecting Omicron to slow down American holiday travel, think again, lodging away from home and airfares both posted large increases, +1.2% and +2.7%, respectively. Most forecasters think the peak for inflation is sometime soon, but the pace of the glide path is open to debate. This is a topic we covered in yesterday’s CoTD, found here. Even though Treasuries had rallied strongly in the immediate aftermath of the report, with the 10yr yield falling back to 1.709% at the intraday low, yields pared back those losses to end the session basically unchanged at 1.74% (+0.7bps). CPI was expected to be bad and therefore the ability to shock was relatively low. However this tame overall move masked a divergence between a sharp bounceback in the 10yr real yield (+7.5bps) and a decline in inflation breakevens (-7.5bps) as the worst fears from the report weren’t realised. Over in Europe however, there was a more sustained rally, with yields on 10yr bunds down -3.2bps to -0.06%, having come very close in recent days to moving back into positive territory for the first time since May 2019. Furthermore, there was a continued divergence between the two regions at the front end of the curve, with the gap between 2yr yields on Treasuries and bunds widening to 153bps yesterday, which is the biggest since the pandemic began. Staying with bonds, our US econ and Rates strategy team published a joint piece last night outlining their early expectations for QT, here. For equities, the lack of an inflation surprise meant that they got a continued reprieve following last week’s selloff, with the S&P 500 (+0.28%) advancing for a 2nd day running for the first time this year, whilst in Europe the STOXX 600 (+0.65%) posted an even stronger advance. Megacap tech stocks were a noticeable outperformer, with the FANG+ index gaining +1.25%, whilst in Europe the STOXX Banks index (+1.22%) hit a fresh 3-year high. On the topic of inflationary pressures, one asset that continued its upward march was oil yesterday, with Brent Crude (+1.13%), just missing its first close above $85/bbl since October yesterday. Bear in mind it was only 6 weeks earlier that Brent hit its post-Omicron closing low, just beneath $69/bbl, so it’s now up by more than $16/bbl over that period. WTI (+1.75%) saw a similar increase yesterday, which won’t be welcome news to those who’d hoped the recent decline in energy prices late last year would offer some relief on the inflation front. That said, WTI oil is making a great case to be the top-performing major asset for a second year running at the minute, having advanced by over +10% since the start of the year.. This morning, Asian markets are mostly trading lower. The Nikkei (-0.91%) is leading losses in the region, followed by the CSI (-0.55%), Shanghai Composite (-0.31% ) and Kospi (-0.19%). Elsewhere, Hong Kong's Hang Seng index (+0.07%) is swinging between gains and losses. In stock news, Cruise operator Genting Hong Kong Ltd nosedived by a record 56%, after it resumed trading today following last week's suspension as the company indicated the possibility of default. Looking forward, US equity futures are indicating a weak start with the S&P 500 (-0.15%), Nasdaq (-0.26%) and Dow Jones (-0.11%) contracts trading in the red. On the Covid front, there was further good news from the UK as the latest wave showed further signs of ebbing. For the UK as a whole, the total number of reported cases over the last 7 days is now down -19% compared with the previous 7 day period, whilst in England the number of Covid patients in a mechanical ventilation bed has dropped to its lowest in almost 3 months, before we’d even heard of the Omicron variant. For those following credit, our colleagues in the European Leveraged Finance Research team have just published their quarterly top trade ideas. You can find the report here. Looking at yesterday’s other data, Euro Area industrial production grew by +2.3% in November (vs. +0.3% expected), although the October reading was revised down to show a -1.3% contraction. To the day ahead now, and one of the highlights will be Fed Governor Brainard’s nomination hearing at the Senate Banking committee to become Fed Vice Chair. Other central bank speakers include the Fed’s Barkin and Evans, ECB Vice President de Guindos and the ECB’s Elderson, along with the BoE’s Mann. Separately, data releases from the US include December’s PPI and the weekly initial jobless claims, whilst there’s also Italy’s industrial production for November. Tyler Durden Thu, 01/13/2022 - 08:00.....»»

Category: blogSource: zerohedgeJan 13th, 2022

IBM Complements Sustainability Initiatives With Envizi Buyout

IBM intends to integrate Envizi's software with its Maximo asset management solutions, Sterling supply chain solutions and Environmental Intelligence Suite to help firms create resilient businesses and sustainable operations. International Business Machines Corporation IBM recently inked a definitive agreement to acquire Envizi for an undisclosed amount. The transaction aims to complement its sustained investments in AI capabilities to enable diverse firms to achieve sustainable business goals and environmental objectives.Based in Australia, Envizi operates as a premier data and analytics software provider for environmental performance management. It offers key insights to optimize resources for major sustainability reporting frameworks with key software that automates the collection and consolidation of more than 500 data types. With user-friendly customizable dashboards, it enables organizations to analyze and manage environmental goals, identify efficiency opportunities and assess sustainability risks for remedial actions. These, in turn, help firms to fulfill their broader Environmental, Social and Governance (ESG) initiatives and reduce greenhouse gas (GHG) emissions.IBM intends to integrate Envizi’s software with its Maximo asset management solutions, Sterling supply chain solutions and Environmental Intelligence Suite to help firms create more resilient businesses, sustainable operations and supply chains by generating automated feedback. The Maximo asset management solutions help firms to extend the life expectancy of critical assets while minimizing the environmental impact by providing predictive maintenance and intelligent asset management. The Sterling supply chain solutions help improve supply chain visibility, cut waste by right-sizing inventory and reduce the carbon footprint of shipment and logistics. The Environmental Intelligence Suite allows companies to increase business resiliency by assessing and effectively planning for lower environmental impact on operations.The Envizi software will be available as a SaaS solution and run in multi-cloud environments. In addition to improving the sustainability initiatives of clients and helping them achieve their ESG goals, IBM will also utilize the software to improve its own operational efficiencies, manage energy consumption and achieve net-zero GHG emissions by 2030.IBM’s growth is expected to be driven primarily by analytics, cloud computing and security in the long haul. A better business mix, improving operating leverage through productivity gains and increased investments in growth opportunities will likely drive its profitability.However, IBM’s ongoing, heavily time-consuming business model transition to the cloud is likely to be a headwind in the near term. Although the public cloud market is expected to be one of the fastest-growing IT categories with about 25% to 30% CAGR over the next five years, IBM is unlikely to keep up with its competitors. Weakness in its traditional business and foreign exchange volatility remain significant concerns. Also, higher profit on lower revenues indicates that the company has been lowering costs to maintain profits. We believe that the scope for further cost-cutting is limited. Consequently, if costs are further reduced, there could be a negative impact on product quality. It could also delay the launch of new products, causing it to lag its peers.The stock has gained 4.6% over the past year compared with the industry’s growth of 5.1%. We remain impressed with the inherent growth potential of this Zacks Rank #2 (Buy) stock.Image Source: Zacks Investment ResearchHewlett Packard Enterprise Company HPE sports a Zacks Rank #1 (Strong Buy). It has a long-term earnings growth expectation of 5.8% and delivered an earnings surprise of 14.4%, on average, in the trailing four quarters. Over the past year, Hewlett Packard has gained a modest 40%.Earnings estimates for the current year for the stock have moved up 12.8% over the past year, while that for the next fiscal is up 26.4%. Hewlett Packard has been pursuing acquisitions to focus more on high-margin hybrid IT models that leverage on-premises and cloud-computing power. It views AI, Industrial IoT and distributed computing as the next major markets.SeaChange International, Inc. SEAC, carrying a Zacks Rank #2, is another solid pick for investors. You can see the complete list of today’s Zacks #1 Rank stocks here.SeaChange delivered an earnings surprise of 37.2%, on average, in the trailing four quarters and has a long-term growth expectation of 10%. Earnings estimates for the current year for the stock have moved up 35.7% since January 2021. Over the past year, SeaChange has gained a modest 55.3%.Vocera Communications, Inc. VCRA sports a Zacks Rank #1. It has a long-term earnings growth expectation of 18% and delivered a stellar earnings surprise of 109.6%, on average, in the trailing four quarters.Over the past year, Vocera has gained 80.9%. It offers an all-inclusive digital platform for hands-free communication via secure text messaging, alert and alarm management. Leveraging a patent-protected, enterprise-class server software, Vocera provides an advanced clinical rules engine that simultaneously unifies data from multiple sources, prioritizes notifications and sends messages to the right care team members. This, in turn, augments clinical workflow by enabling the interoperability of the solution with a significant number of clinical and operational systems used in hospitals today. Breakout Biotech Stocks with Triple-Digit Profit Potential The biotech sector is projected to surge beyond $2.4 trillion by 2028 as scientists develop treatments for thousands of diseases. They’re also finding ways to edit the human genome to literally erase our vulnerability to these diseases. Zacks has just released Century of Biology: 7 Biotech Stocks to Buy Right Now to help investors profit from 7 stocks poised for outperformance. Recommendations from previous editions of this report have produced gains of +205%, +258% and +477%. The stocks in this report could perform even better.See these 7 breakthrough stocks now >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report International Business Machines Corporation (IBM): Free Stock Analysis Report SeaChange International, Inc. (SEAC): Free Stock Analysis Report Vocera Communications, Inc. (VCRA): Free Stock Analysis Report Hewlett Packard Enterprise Company (HPE): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research.....»»

Category: topSource: zacksJan 13th, 2022

Motorola (MSI) Secures LMR Contract Expansion From US Navy

The deal reinforces Motorola's (MSI) competitive position in the public safety ecosystem and extends the operations of Land Mobile Radio network of the naval community. Motorola Solutions, Inc. MSI has secured a $29 million contract extension from the U.S. Department of Defense to bolster mission-critical communications infrastructure among the first-responder community in the U.S. Navy. The deal reinforces its competitive position in the public safety ecosystem and extends the operations of Land Mobile Radio (LMR) network of the naval community.The multi-year agreement was originally signed in January 2020. Per the contract, Motorola will be undertaking necessary steps for sustaining Naval Facilities Engineering Command Anti-Terrorism/Force Protection Ashore mobile radio systems globally. The agreement involves state-of-the-art software upgrades and licenses, asset and configuration management and benchmark testing.Showcasing its adaptability in both military and first responder markets, the Chicago-based company will leverage its much-acclaimed P25 trunked network to strengthen the deployment of LMR communication for easier access, enhanced coverage and stronger security in the Navy. Specifically designed for maintaining synchronized communication between public safety agencies and the Navy’s first responder services, the LMR network is aimed at providing assistance during emergencies like accidents, terrorist attacks, or natural calamities. It ensures secure collaboration between other federal, state and local agencies in the public safety domain for faster and effective responses.Motorola expects to record strong demand across video security and services, LMR products and related software while benefiting from a solid foundation. These systems drive the demand for additional device sales and promote software upgrades and infrastructure expansion. The comprehensive suite of services ensures continuity and reduces risks related to critical communications operations.Furthermore, Motorola intends to fortify its position in the public safety domain by entering into alliances with other players in the ecosystem. It remains poised to benefit from organic growth and acquisition initiatives, disciplined capital deployment and a favorable global macroeconomic environment. Its competitive position and an attractive portfolio for a large addressable market augur well for long-term growth.The stock has gained 47% over the past year compared with the industry’s growth of 19.5%. We remain impressed with the inherent growth potential of this Zacks Rank #3 (Hold) stock. Image Source: Zacks Investment ResearchA better-ranked stock in the industry is Qualcomm Incorporated QCOM, carrying a Zacks Rank #2 (Buy). It has a long-term earnings growth expectation of 15.3% and delivered an earnings surprise of 11.2%, on average, in the trailing four quarters.Earnings estimates for the current year for the stock have moved up 29.7% over the past year, while that for the next fiscal is up 48.1%. Qualcomm is likely to benefit in the long run from solid 5G traction and a surge in demand for essential products that are the building blocks of digital transformation in the cloud economy.SeaChange International, Inc. SEAC, carrying a Zacks Rank #2, is another solid pick for investors. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.SeaChange delivered an earnings surprise of 37.2%, on average, in the trailing four quarters and has a long-term growth expectation of 10%. Earnings estimates for the current year for the stock have moved up 35.7% since January 2021. Over the past year, SeaChange has gained a modest 55.3%.Vocera Communications, Inc. VCRA sports a Zacks Rank #1. It has a long-term earnings growth expectation of 18% and delivered a stellar earnings surprise of 109.6%, on average, in the trailing four quarters.Over the past year, Vocera has gained 80.9%. It offers an all-inclusive digital platform for hands-free communication via secure text messaging, alert and alarm management. Leveraging a patent-protected, enterprise-class server software, Vocera provides an advanced clinical rules engine that simultaneously unifies data from multiple sources, prioritizes notifications and sends messages to the right care team members. This, in turn, augments clinical workflow by enabling the interoperability of the solution with a significant number of clinical and operational systems used in hospitals today. Breakout Biotech Stocks with Triple-Digit Profit Potential The biotech sector is projected to surge beyond $2.4 trillion by 2028 as scientists develop treatments for thousands of diseases. They’re also finding ways to edit the human genome to literally erase our vulnerability to these diseases. Zacks has just released Century of Biology: 7 Biotech Stocks to Buy Right Now to help investors profit from 7 stocks poised for outperformance. Recommendations from previous editions of this report have produced gains of +205%, +258% and +477%. The stocks in this report could perform even better.See these 7 breakthrough stocks now >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report QUALCOMM Incorporated (QCOM): Free Stock Analysis Report Motorola Solutions, Inc. (MSI): Free Stock Analysis Report SeaChange International, Inc. (SEAC): Free Stock Analysis Report Vocera Communications, Inc. (VCRA): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research.....»»

Category: topSource: zacksJan 13th, 2022