Advertisements



Malaysia aims to create 5,000 startups and 5 unicorns by 2025

Malaysia's Ministry of Science, Technology, and Innovation (MOSTI) aims to build a conducive startup ecosystem by launching Malaysian Startup Ecosystem Roadmap (SUPER) 2021-2023 and the MYStartup Platform......»»

Category: topSource: digitimesNov 25th, 2021

The millennial founder of a software company on track to net seven figures this year is fostering Africa"s rising tech stars

Oladosu Teyibo's company expanded into connecting African engineers with US startups as he seeks to help diversify the tech landscape. Oladosu Teyibo Oladosu Teyibo Oladosu Teyibo is the founder of software development company Analog Team. To Insider, he talks about career beginnings and business ambitions. This is part of Insider's entrepreneur series Star, Rising which highlights early entrepreneurs and businesses. See more stories on Insider's business page. Name: Oladosu TeyiboAge: 29Location: Washington, D.C Business: An outsourcing tech company focused on hiring underrepresented communities. Backstory: Africa's tech landscape is experiencing a boom but with investment into the continent, it's just as imperative to invest in the African talent living there. Founded by Oladosu Teyibo in 2018, Analog Team connects talent from underrepresented backgrounds with tech companies looking to build digital products. Aside from working in the US, Analog Team focuses on connecting African engineers with startups based in the states. His company is betting on the idea that others will begin sourcing talent from Africa, the way outsourcing is currently done to India, Teyibo said. "There is not a pipeline issue or a knowledge gap," he told Insider. "It's just about providing opportunities and looking for the gems that are in the rough." Growth: Analog Team now operates in six African countries, including Kenya, Ghana, South Africa, and Nigeria. It has worked with top cell phone providers, social media, and gaming apps and is projected to net more than seven figures this year.Next, it's sourcing talent to build a new social media app, a database for user experience (UX) design, and new data transformation tools. Last month, with plans to further expand nationally, the company partnered with the city of Montgomery, Alabama to create an innovation lab that will help foster local tech talent."We're also in conversation with HBCUs [Historically Black Colleges and Universities] and local universities to create robotics programs that focus on drone technology," Teyibo said. Oladosu Teyibo Oladosu Teyibo Before Analog Team: Teyibo studied information technology at the University of Maryland, Baltimore, and worked at the Cyber Innovation Center where he oversaw mergers and acquisitions. He left the company in 2016 to start Analog Team. Challenges: Many tech companies have bad experiences working with outsourcing companies, so Analog Team built a business model to ensure it would be different from the rest. "We integrate and become part of the company," Teyibo said. "We get so close you actually feel like we're a part of your team." Advice: "The most important thing about building a business is to be the last one standing," Teyibo said. "The right way to do that is to constantly innovate." Mentor: Teyibo counts his mother as a mentor who told him "when you leave somewhere, leave the place better than you met it."Why now is the best time to start a business: The world is on the "precipice of innovation and change," and positioning oneself as a business leader early can pay off in the long run, Teyibo said. "In the next 10 or 20 years you can actually have a say in where we go as a global community," he added. Analog Team's Nigerian-based tech team Analog Teams On hiring: Right now, Analog Team consists of 30 people and aims to hire 1,000 people across software development, recruiting, and customer service by 2025. Interest in the company has increased as word of it continues to spread. "It's now just about finding enough opportunities to hire everyone that we see across the world," Teyibo said.Managing burnout: Teyibo prays to help recenter his focus, and encourages his employees to take breaks when needed so when it's time to deliver, everyone is at their best. "It's absolutely necessary to take breaks when you need them," he continued. "But it's important to remember a break isn't a vacation - every moment you're not focused on your goals, the competition is outworking you."Read the original article on Business Insider.....»»

Category: topSource: businessinsiderSep 24th, 2021

Amazon"s (AMZN) 18 Projects to Bolster Net-Zero Carbon Efforts

Amazon (AMZN) announces 18 utility-scale wind and solar energy projects, which will be located in the United States, Finland, Italy, Spain and Ireland. Amazon AMZN has revealed 18 utility-scale wind and solar energy projects in a bid to fuel its carbon emission-free drive.Notably, out of these projects, eight will be based in the United States. Further, four will be located in Finland, four in Spain, one in Italy and another one in Ireland.The renewable energy produced by the new projects will be utilized in supplying energy to the AWS data centers, Amazon’s fulfillment centers and corporate offices.We believe that the latest move bodes well for the company’s goal of reaching net-zero carbon emissions by 2040.The move makes the company the biggest corporate investor in renewable energy by bringing its total count of renewable energy projects to 274 on a global basis.Notably, growing investments in these projects have accelerated the pace of Amazon’s journey toward powering its infrastructure with 100% renewable energy. The goal was initially targeted to be met by 2030, which is now expected to be achieved by 2025.Amazon.com, Inc. Price and Consensus  Amazon.com, Inc. price-consensus-chart | Amazon.com, Inc. QuoteAmazon’s Growing EffortsAmazon has been shifting its focus from fossil fuels to clean energy for quite some time now. The shift to clean energy sources is anticipated to reduce costs in the near term, which is a major positive. Additionally, the company can generate healthy returns from strengthening solar and wind investments as there are several associated tax incentives.Apart from the latest move, the company’s climate-friendly program, which focuses on environment-friendly products, remains a major positive. Under the new program, customers can view the Climate Pledge Friendly label, while purchasing more than 25,000 products.Amazon recently revealed 14 wind and solar energy projects, out of which 11 will be based in the United States, one will be located in Canada, one in Finland, and another one in Spain.    All the endeavors reflect Amazon’s Climate Pledge commitment.However, mounting expenses, owing to growing such endeavors, remain major concerns for the margin expansion of Amazon, which currently carries a Zacks Rank #5 (Strong Sell).You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.Zero-Carbon Mission Gaining SteamThe carbon-free push is gaining strong traction across the technology sector.Not only Amazon but companies like Apple AAPL, Alphabet GOOGL and Microsoft MSFT are also taking initiatives to lower overall carbon footprints and cut energy bills substantially.Apple is looking for ways to develop a carbon-free project soon. AAPL committed to being carbon-neutral across its manufacturing supply chain, product life cycle and overall business by 2030. Further, it was recently announced that 175 Apple suppliers have agreed to transition to using renewable energy.Alphabet’s aggressive three-fold strategy, which includes energy efficiency, renewable energy procurement and carbon offsets, remains noteworthy. Notably, the company’s division Google has been carbon neutral since 2007. GOOGL is aiming to be carbon-free by 2030.Microsoft is gathering steam to become carbon negative by 2030. Additionally, MSFT aims to remove all the emissions, which it has released since its founding year, by 2050. Zacks' Top Picks to Cash in on Artificial Intelligence In 2021, this world-changing technology is projected to generate $327.5 billion in revenue. Now Shark Tank star and billionaire investor Mark Cuban says AI will create "the world's first trillionaires." Zacks' urgent special report reveals 3 AI picks investors need to know about today.See 3 Artificial Intelligence Stocks With Extreme Upside Potential>>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Amazon.com, Inc. (AMZN): Free Stock Analysis Report Apple Inc. (AAPL): Free Stock Analysis Report Microsoft Corporation (MSFT): Free Stock Analysis Report Alphabet Inc. (GOOGL): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research.....»»

Category: topSource: zacksDec 3rd, 2021

Kroger Reports Third Quarter 2021 Results and Raises Full-Year Guidance

CINCINNATI, Dec. 2, 2021 /PRNewswire/ -- The Kroger Co. (NYSE:KR) today reported its third quarter 2021 results and will update investors on how key initiatives are positioning the company for long-term sustainable growth. Comments from Chairman and CEO Rodney McMullen   "Kroger's strategy to lead with fresh and accelerate with digital continues to connect with our customers. Our agility, and the commitment from our amazing associates, is allowing us to navigate current labor and supply chain conditions and provide the freshest food at affordable prices across our store and digital ecosystem. "Our focus on execution, combined with our continued discipline in balancing investments in our associates and customers with exceptional cost management, and growth in our alternative profit business allowed us to exceed internal expectations and deliver strong sales and earnings growth. "Across all aspects of our business, we are innovating and executing with speed against the key initiatives that are transforming our business. Kroger is in a position of strength. We are committed to delivering for our associates, customers, and communities, and we remain confident in our ability to deliver total shareholder returns of 8% to 11% over time." Third Quarter Financial Results 3Q21 ($ in millions; except EPS) 3Q20 ($ in millions; except EPS) ID Sales* (Table 4) 3.1% 10.9% EPS $0.64 $0.80 Adjusted EPS (Table 6) $0.78 $0.71 Operating Profit $868 $792 Adjusted FIFO Operating Profit (Table 7) $974 $871 FIFO Gross Margin Rate* Decreased 41 basis points OG&A Rate* Decreased 49 basis points *without fuel and adjustment items, if applicable Third Quarter Results versus Two Years Ago 3Q21 ($ in millions; except EPS) ID Sales Two Year Stacked* (Table 8) 14.0% EPS Two Year CAGR (Table 8) 41.4% Adjusted EPS Two Year CAGR (Table 8) 28.8% Operating Profit Two Year CAGR (Table 8) 84.9% Adjusted FIFO Operating Profit Two Year CAGR (Table 8) 22.1% FIFO Gross Margin Rate Compared to Q3 2019* Decreased 43 basis points OG&A Rate Compared to Q3 2019* Decreased 79 basis points *without fuel and adjustment items, if applicable Total company sales were $31.9 billion in the third quarter, compared to $29.7 billion for the same period last year. Excluding fuel, sales increased 2.9% compared to the same period last year. Gross margin was 21.66% of sales for the third quarter. The FIFO gross margin rate, excluding fuel, decreased 41 basis points compared to the same period last year. This decrease primarily related to higher supply chain costs and continued price investments partially offset by sourcing benefits.   The LIFO charge for the third quarter was $93 million, compared to $23 million for the same period last year. This increase was primarily attributable to higher inflation across several categories, including grocery and meat. The Operating, General & Administrative rate decreased 49 basis points, excluding fuel and adjustment items, which reflects sales leverage and the execution of cost savings initiatives. Kroger recorded a nonrecurring benefit of $47 million, or $0.07 per diluted share, primarily due to the favorable outcome of income tax audit examinations covering multiple years. This amount is excluded from the company's adjusted net earnings per diluted share result for the third quarter. The income tax rate for the third quarter was 13.8%, compared to 24.2% for the same period last year. Capital Allocation Strategy Kroger continues to generate strong free cash flow and remains committed to investing in the business to drive long-term sustainable net earnings growth, maintaining its current investment grade debt rating, and returning excess free cash flow to shareholders via share repurchase and a growing dividend over time. Kroger's net total debt to adjusted EBITDA ratio is 1.68, compared to 1.74 a year ago (Table 5). The company's net total debt to adjusted EBITDA ratio target range is 2.30 to 2.50. During the quarter, Kroger repurchased $297 million of shares and year-to-date, has repurchased $1 billion of shares. As of the end of the third quarter, $511 million remains on the board authorization announced on June 17, 2021.   2021 Guidance Comments from CFO Gary Millerchip   "Driven by the momentum in our third quarter results and sustained food at home trends, we are raising our full-year guidance. We now expect our two-year identical sales stack to be in the range of 13.7% to 13.9%. We expect our adjusted net earnings per diluted share to be in the range of $3.40 to $3.50.   "Kroger is executing against its key financial and operational initiatives and continues to invest in strategic priorities that will drive attractive and sustainable total shareholder returns. We believe our business is emerging stronger through the pandemic and is well positioned to grow beyond 2021." Full Year 2021 Guidance IDs (%) EPS ($) Operating Profit ($B) Tax Rate** Cap Ex ($B) Free Cash Flow ($B)**** Adjusted* (0.4%) - (0.2%) $3.40 - $3.50 $4.1 - $4.2 22.1% - 22.5% $3.1 - $3.3 $2.4 - $2.6 2-Year Basis*** 13.7% - 13.9% (Stack) 25% - 26% (CAGR) 17.0% - 18.4% (CAGR) $3.3 - $3.4 (Average) * Without adjusted items, if applicable; Identical sales is without fuel; Operating profit represents FIFO Operating Profit. Kroger is unable to provide a full reconciliation of the GAAP and non-GAAP measures used in 2021 guidance without unreasonable effort because it is not possible to predict certain of our adjustment items with a reasonable degree of certainty. This information is dependent upon future events and may be outside of our control and its unavailability could have a significant impact on 2021 GAAP financial results. ** This rate reflects typical tax adjustments and does not reflect changes to the rate from the completion of income tax audit examinations or changes in tax laws, which cannot be predicted. Accordingly, this does not reflect the effect of the $47 million benefit recognized in the third quarter of 2021. *** Identical sales, without fuel, guidance for 2-year basis represents the sum of actual 2020 identical sales percentage and 2021 identical sales rate guidance. The 2-year basis guidance items denoted with CAGR represent the compounded annual growth rate utilizing 2019 as the base year. Average free cash flow is the average of actual 2020 free cash flow and 2021 guidance. **** 2021 free cash flow guidance includes a $300M payment of deferred payroll taxes. This excludes planned payments related to the restructuring of multi-employer pension plans. Third Quarter 2021 Highlights Leading with Fresh Surpassed $1 billion in annualized sales for Home Chef, becoming the newest Our Brands billion dollar brand in Kroger's portfolio Our Brands launched 216 new items during the quarter with plans to launch several innovative and unique products focused on helping customers enjoy the holiday season like Private Selection Holiday Trail Mix and Simple Truth Cranberry Pistachio Bread Expanded launch of our End-to-End Fresh program to over 50 additional stores Announced plans with Kipster Farms, the award-winning system founded in The Netherlands, to bring the world's first carbon-neutral, cage-free eggs to retail shelves under Simple Truth® brand Accelerating with Digital Launched Kroger Delivery Now nationwide with Instacart to provide 30-minute delivery, enabled by first-of-its-kind virtual convenience store shopping experience Introduced Boost by Kroger Plus, an annual membership program that provides customers free delivery and additional fuel points on purchases in four divisions Shared plans for five new customer fulfillment centers powered by the Ocado Group including expansions in California and Florida and entrance for the first time into the Northeast region Announced collaboration with Bed Bath & Beyond and buybuy Baby on a national e-commerce experience via Kroger.com and a small-scale physical store pilot to expand home and baby product offerings Kroger Precision Marketing launched a new programmatic advertising marketplace   allowing agencies and brands to reach consumers by applying Kroger customer data to campaigns within their preferred ad-buying platform Associate Experience Increased Kroger Family of Companies' average hourly wage to greater than $16 and with comprehensive benefits, will be greater than $21 by the end of 2021 Received two Brandon Hall Group - Excellence in Human Capital Management Awards, including Gold recognition for Leading through a Crisis during the COVID-19 pandemic and Silver recognition for A Fresh Welcome, organization's new and innovative onboarding program, which launched in 2020 Held nationwide hiring event with more than 20,000 opportunities in retail, e-commerce, manufacturing, merchandising, corporate, healthcare and more Live Our Purpose Kroger Health partnered with Anthem Blue Cross and Blue Shield to offer new Medicare Advantage plans that include an allowance to help customers purchase groceries and health items Kroger Health has administered more than 8.5 million COVID-19 vaccine doses to date, supporting customers and associates Marked one-year anniversary of organization's Framework for Action: Diversity, Equity and Inclusion plan to better use company's platform to create and advocate for more equitable communities. Shared the following progress: 405,000 associates completed diversity and inclusion training Increased our partnerships with Historically Black Colleges and Universities and Hispanic-Serving Institutions from six to seventeen Achieved $4.1 billion in diverse supplier spend in 2020, a 21% increase versus prior year The Kroger Co. Foundation collectively invested $3.1 million to advance racial equity through partnerships with Black Girl Ventures, Everytable, LISC, Thurgood Marshall College Fund, and other organizations Scored 100 on both the Disability Equality Index presented by Disability: IN and the American Association of People with Disabilities (AAPD) and the Corporate Equality Index presented by the Human Rights Campaign Foundation The Zero Hunger | Zero Waste Foundation Innovation Fund made impact investments during the first-ever Venture Showcase in two peer-selected startups, Agua Bonita and Matriark Foods About KrogerAt The Kroger Co. (NYSE:KR), we are Fresh for Everyone™ and dedicated to our Purpose: To Feed the Human Spirit®. We are, across our family of companies, nearly half a million associates who serve over 11 million customers daily through a seamless shopping experience under a variety of banner names. We are committed to creating #ZeroHungerZeroWaste communities by 2025. To learn more about us, visit our newsroom  and investor relations site. Kroger's third quarter 2021 ended on November 6, 2021. Note: Fuel sales have historically had a low gross margin rate and operating expense rate as compared to corresponding rates on non-fuel sales. As a result, Kroger discusses the changes in these rates excluding the effect of fuel. Please refer to the supplemental information presented in the tables for reconciliations of the non-GAAP financial measures used in this press release to the most comparable GAAP financial measure and related disclosure. This press release contains certain statements that constitute "forward-looking statements" about the future performance of the company. These statements are based on management's assumptions and beliefs in light of the information currently available to it. Such statements are indicated by words or phrases such as "achieve," "believe," "committed," "confident," "continue," "deliver," "expect," "future," "guidance," "positioning," "strategy," "target," "trends," and "will." Various uncertainties and other factors could cause actual results to differ materially from those contained in the forward-looking statements. These include the specific risk factors identified in "Risk Factors" in our annual report on Form 10-K for our last fiscal year and any subsequent filings, as well as the following: Kroger's ability to achieve sales, earnings, incremental FIFO operating profit, and adjusted free cash flow goals may be affected by: COVID-19 pandemic related factors, risks and challenges, including among others, the length of time that the pandemic continues, new variants of the virus and the effectiveness of vaccines against variants, continued efficacy of vaccines over time and availability of vaccine boosters, the extent of continued vaccine disinformation and vaccine refusal, and global access to vaccines, as well as the effect of emerging  vaccine and/or testing mandates and related regulations, the potential for additional future spikes in infection and illness rates including breakthrough infections among the fully vaccinated, and the corresponding potential for disruptions in workforce availability and customer shopping patterns, re-imposed restrictions as a result of resurgence and the corresponding future easing of restrictions, and interruptions in domestic and global supply chains or capacity constraints; the pace of recovery when the pandemic subsides; labor negotiations or disputes; changes in the unemployment rate; pressures in the labor market; changes in government-funded benefit programs; changes in the types and numbers of businesses that compete with Kroger; pricing and promotional activities of existing and new competitors, including non-traditional competitors, and the aggressiveness of that competition; Kroger's response to these actions; the state of the economy, including interest rates, the inflationary and deflationary trends in certain commodities; changes in tariffs; the effect that fuel costs have on consumer spending; volatility of fuel margins; manufacturing commodity costs; diesel fuel costs related to Kroger's logistics operations; trends in consumer spending; the extent to which Kroger's customers exercise caution in their purchasing in response to economic conditions; the uncertainty of economic growth or recession; changes in inflation or deflation in product and operating costs; stock repurchases; Kroger's ability to retain pharmacy sales from third party payors; consolidation in the healthcare industry, including pharmacy benefit managers; Kroger's ability to negotiate modifications to multi-employer pension plans; natural disasters or adverse weather conditions; the effect of public health crises or other significant catastrophic events, including the coronavirus; the potential costs and risks associated with potential cyber-attacks or data security breaches; the success of Kroger's future growth plans; the ability to execute our growth strategy and value creation model, including continued cost savings, growth of our alternative profit businesses, and widening and deepening our strategic moats of fresh, our brands, personalization, and seamless; and the successful integration of merged companies and new partnerships. Our ability to achieve these goals may also be affected by our ability to manage the factors identified above. Our ability to execute our financial strategy may be affected by our ability to generate cash flow. Kroger's effective tax rate may differ from the expected rate due to changes in tax laws, the status of pending items with various taxing authorities, and the deductibility of certain expenses. Kroger assumes no obligation to update the information contained herein unless required by applicable law. Please refer to Kroger's reports and filings with the Securities and Exchange Commission for a further discussion of these risks and uncertainties. Note: Kroger's quarterly conference call with investors will broadcast live at 10 a.m. (ET) on December 2, 2021 at ir.kroger.com. An on-demand replay of the webcast will be available at approximately 1 p.m. (ET) on Thursday, December 2, 2021. 3rd Quarter 2021 Tables Include: Consolidated Statements of Operations Consolidated Balance Sheets Consolidated Statements of Cash Flows Supplemental Sales Information Reconciliation of Net Total Debt and Net Earnings Attributable to The Kroger Co. to Adjusted EBITDA Net Earnings Per Diluted Share Excluding the Adjustment Items Operating Profit Excluding the Adjustment Items Two-Year Financial Results   Table 1.THE KROGER CO.CONSOLIDATED STATEMENTS OF OPERATIONS(in millions, except per share amounts)(unaudited) THIRD QUARTER YEAR-TO-DATE 2021 2020 2021 2020 SALES $    31,860 100.0% $ 29,723 100.0% $    104,840 100.0% $   101,761 100.0% OPERATING EXPENSES MERCHANDISE COSTS, INCLUDING ADVERTISING,      WAREHOUSING AND TRANSPORTATION (a),      AND LIFO CHARGE (b) 24,959 78.3 22,901 77.1 81,820 78.0 77,906 76.6 OPERATING, GENERAL AND ADMINISTRATIVE (a) 5,177 16.2 5,194 17.5 17,692 16.9 18,162 17.9 RENT 197 0.6 205 0.7 648 0.6 682 0.7 DEPRECIATION AND AMORTIZATION 659 2.1 631 2.1 2,168 2.1 2,073 2.0      OPERATING PROFIT  868 2.7 792 2.7 2,512 2.4 2,938 2.9 OTHER INCOME (EXPENSE) INTEREST EXPENSE (135) (0.4) (129) (0.4) (438) (0.4) (438) (0.4) NON-SERVICE COMPONENT OF COMPANY-SPONSORED      PENSION PLAN COSTS (77) (0.2) 9 - (44) - 28 - (LOSS) GAIN ON INVESTMENTS (94) (0.3) 162 0.6 (694) (0.7) 952 0.9      NET EARNINGS BEFORE INCOME TAX EXPENSE 562 1.8 834 2.8 1,336 1.3 3,480 3.4 INCOME TAX EXPENSE  77 0.2 202 0.7 239 0.2 816 0.8      NET EARNINGS INCLUDING NONCONTROLLING INTERESTS 485 1.5 632 2.1 1,097 1.1 2,664 2.6 NET INCOME ATTRIBUTABLE TO      NONCONTROLLING INTERESTS 2 - 1 - 7 - 2 - NET EARNINGS ATTRIBUTABLE TO THE KROGER CO.  $         483 1.5% $       631 2.1% $         1,090 1.0% $       2,662 2.6% NET EARNINGS ATTRIBUTABLE TO THE KROGER CO.      PER BASIC COMMON SHARE $        0.64 $      0.81 $           1.44 $         3.39 AVERAGE NUMBER  OF COMMON SHARES USED IN      BASIC CALCULATION 742 772 747 777 NET EARNINGS ATTRIBUTABLE TO THE KROGER CO.      PER DILUTED COMMON SHARE $        0.64 $      0.80 $           1.43 $         3.35 AVERAGE NUMBER OF COMMON SHARES USED IN      DILUTED CALCULATION 752 780 757 785 DIVIDENDS DECLARED PER COMMON SHARE $        0.21 $      0.18 $           0.60 $         0.52 Note: Certain percentages may not sum due to rounding. Note: The Company defines First-In First-Out (FIFO) gross profit as sales minus merchandise costs, including advertising, warehousing and transportation, but excluding the Last-In First-Out (LIFO) charge. The Company defines FIFO gross margin as FIFO gross profit divided by sales. The Company defines FIFO operating profit as operating profit excluding the LIFO charge. The Company defines FIFO operating margin as FIFO operating profit divided by sales. The above FIFO financial metrics are important measures used by management to evaluate operational effectiveness.  Management believes these FIFO financial metrics are useful to investors and analysts because they measure our day-to-day operational effectiveness. (a) Merchandise costs ("COGS") and operating, general and administrative expenses ("OG&A") exclude depreciation and amortization expense and rent expense which are included in separate expense lines. (b) LIFO charges of $93 and $23 were recorded in the third quarters of 2021 and 2020, respectively.  For the year to date period, LIFO charges of $177 and $77 were recorded for 2021 and 2020, respectively.   Table 2.THE KROGER CO.CONSOLIDATED BALANCE SHEETS(in millions)(unaudited) November 6, November 7, 2021 2020 ASSETS Current Assets Cash $                   324 $                   367 Temporary cash investments 1,964 1,813 Store deposits in-transit 1,140 1,102 Receivables 1,914 1,610 Inventories 7,520 7,478 Prepaid and other current assets 518 576 Total current assets 13,380 12,946 Property, plant and equipment, net 23,316 21,902 Operating lease assets 6,655 6,843 Intangibles, net 954 1,012 Goodwill 3,076 3,076 Other assets 2,448 2,686 Total Assets $              49,829 $              48,465 LIABILITIES AND SHAREOWNERS' EQUITY Current Liabilities.....»»

Category: earningsSource: benzingaDec 2nd, 2021

Omnicom"s (OMC) Credera Announces Acquisition of BrightGen

Omnicom's (OMC) Credera aims at expanding its global Salesforce capabilities and geographic reach through the acquisition. Omnicom Group Inc.’s OMC Credera yesterday announced its acquisition of BrightGen for an undisclosed amount.Credera is a boutique consulting firm and part of Omnicom Precision Marketing Group, the digital and customer relationship management specialist practice area within Omnicom. BrightGen is a UK-based Salesforce Summit Partner that engages in designing, delivery, and implementation of solutions for companies in financial services, travel and transport, and education industries.The acquisition is aimed at expanding Credera’s global Salesforce capabilities and geographic reach, and increasing its expertise in digital transformation, marketing technology and customer experience capabilities. BrightGen will continue with its current management team post the acquisition.Justin Bell, president and CEO of Credera, stated, "We remain committed to prioritizing investment in organizations that create remarkable customer experiences with meaningful outcomes for our diverse client base, and we have tremendous confidence that BrightGen's depth of expertise will better enable us to do just that."Omnicom’s shares have gained 7.7% over the past year, underperforming the 16.9% rise of the industry it belongs to and 29.9% growth of the Zacks S&P 500 composite.Omnicom Group Inc. Price Omnicom Group Inc. price | Omnicom Group Inc. QuoteZacks Rank and Stocks to ConsiderOmnicom currently carries a Zacks Rank #3 (Hold).You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.Some other top-ranked stocks in the broader Business Services sector are Avis Budget CAR and Cross Country Healthcare CCRN, both sporting a Zacks Rank #1, and Charles River Associates CRAI, carrying a Zacks Rank #2 (Buy).Avis Budget has an expected earnings growth rate of 420.6% for the current year. The company has a trailing four-quarter earnings surprise of 76.9%, on average.Avis Budget’s shares have surged 719.1% in the past year. The company has a long-term earnings growth of 18.8%.Cross Country Healthcare has an expected earnings growth rate of 447.8% for the current year. The company has a trailing four-quarter earnings surprise of 75%, on average.Cross Country Healthcare’s shares have surged 201.2% in the past year. The company has a long-term earnings growth of 21.5%.Charles River Associates has an expected earnings growth rate of 61.2% for the current year. The company has a trailing four-quarter earnings surprise of 51%, on average.Charles River’s shares have surged 120.2% in the past year. The company has a long-term earnings growth of 15.5%. Zacks’ Top Picks to Cash in on Artificial Intelligence This world-changing technology is projected to generate $100s of billions by 2025. From self-driving cars to consumer data analysis, people are relying on machines more than we ever have before. Now is the time to capitalize on the 4th Industrial Revolution. Zacks’ urgent special report reveals 6 AI picks investors need to know about today.See 6 Artificial Intelligence Stocks With Extreme Upside Potential>>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Charles River Associates (CRAI): Free Stock Analysis Report Avis Budget Group, Inc. (CAR): Free Stock Analysis Report Omnicom Group Inc. (OMC): Free Stock Analysis Report Cross Country Healthcare, Inc. (CCRN): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research.....»»

Category: topSource: zacksNov 24th, 2021

Why This Dating App Is Paying All Employees an $80,000 Minimum Salary

The decision is similar to that taken by the Dan Price, the CEO of credit card processing startup Gravity Payments Feeld is a dating app that puts being progressive at the heart of what it does. For its chief executive Ana Kirova, that’s an approach she aims to bring to the way the business values its employees. The company, which offers users a range of flexible options and started out as an app for non-monogamous relationships, today announced that it was setting a new minimum annual salary of £60,000 ($80,000) for full-time employees. The new minimum pay means 40% of Feeld’s 55 full-time staff will receive a pay rise starting in January. The remaining employees already earn above this amount. [time-brightcove not-tgx=”true”] “We put the human first, both as a company and for our customers,” Kirova tells TIME in an interview over Zoom. Following a wave of new hires, she noticed that paying employees the market rate for certain roles meant that their salaries would not rise beyond a certain level. “It just didn’t make sense for us to take that information and not do anything about it.” she says. “As an organization, being fluid and progressive allows people to do their best work.” The decision is similar to that taken by Gravity Payments, a credit card processing startup, which raised its minimum salary to $70,000 in April 2015. Feeld’s move also comes against the backdrop of a significant shift within the labor market. Dubbed the ‘great resignation,’ workers are quitting their jobs in droves. A record 4.4 million Americans quit their jobs in September, according to a report released Nov. 12 by the Bureau of Labor Statistics, the highest level since the agency started tracking such data in 2000. In the same month, there were around 10 job openings for every seven people without a job. Demand for workers is giving employees leverage to demand better pay, perks, and working conditions from potential employers. In the U.K., where Feeld is based—although it allows staff to work remotely from anywhere—resignations and job-to-job moves are at the highest level in 20 years. Nearly 400,000 workers resigned between July and September, compared with 105,000 at the same time last year. While Kirova recognizes the benefit of high starting salaries in attracting talent, she says the reason for the company’s decision was more about its “core value: being human.” Unlike Dan Price, the CEO of Gravity Payments, Kirova will not be taking a pay cut to fund the minimum salary increase. That’s because the raises can be comfortably funded using the company’s profits, she says. “We’ve been profitable for the last few years,” she said without disclosing the company’s profit figures. “We’ve seen a lot of growth and success, and we want to make sure that we reward everyone for it, because it’s not like it’s one person’s success. Everyone’s contributed to it.” Executives will still earn significantly more than other employees. Taking into account the $80,000 base wage and new hires in top roles, employees at executive level will be earning around six times the minimum salary, Kirova says. “We’ve never really had that vast gap between the top paid person and the lowest paid,” she says. “I think that this is to a large degree thanks to our transparent salaries policy, because it just keeps you accountable as a leader.” Kirova declined to disclose the company’s annual revenue or total number of users but a company representative said there had been a 70% year-on-year increase in users from October 2020 to October 2021. The New York Times reported that the app had 1.5 million downloads in 2016. The app, which has users in major cities around the world, is free to use but has a paid membership offering with enhanced features and privacy options. Dimo Trifonov, the app’s founder—and Kirova’s partner—originally came up with the idea for Feeld in 2014, when she asked if him they could experiment with additional people in their relationship. Initially called 3nder, the app was designed for couples to create joint accounts. It has since expanded to include anyone wanting to experiment in dating. There are more than 20 options for gender identity and sexuality on the app. Kirova joined the product side of the business in 2016 and was appointed CEO in April this year. Since then, she has formed a leadership team of 60% female-identifying members. According to the company, increasing the lowest wage to $80,000 will reduce the gender pay gap between men and women at Feeld to 1%, from 6%. “As a leader of an organisation and especially with our transparency, you can see patterns that are systemic,” Kirova says of the pay gap. “They’re not our doing. But if we don’t do something against them, they will just creep in as we grow.” The company aims to one day close the remaining 1% pay gap, but only once it has established the root cause, she says. “Does this 1% also come from the wider market? Or does it come from internal bias that we’ll need to address?” Kirova says she did not discuss the wage increase with the company’s sole investor, whose identity she declined to reveal, but says “he has a lot of faith in and trust in how we work.” “We’ve previously made decisions that could look unpopular from an investor perspective,” she says, such as investing heavily in “design and creative work” and implementing salary transparency. “These are not necessarily popular decisions, because they’re not tested and proven. But Feeld has always been very creative about how we do our work, and what exactly we do,” Kirova says. “And I believe we have the trust of our investor.” In addition to improving equity across different roles and genders within the company, Kirova hopes that the minimum salary increase will set an example to other startups. “It’s very important for us to stay progressive, but also to inspire other companies to think a little bit more creatively about how exactly they conduct their business internally.” Most importantly, Kirova believes that investment in workers is essential in fomenting productivity. “In industries which are trying to reinvent or to innovate how work happens, there needs to be a path for people to see how they can succeed and grow.” She says it is counterproductive to creat gaps between how different roles are valued within an organization. , She gives the example of engineering positions, which are often better paid than other jobs within startups. “It has to be bridged. It can’t stay like this forever.”.....»»

Category: topSource: timeNov 24th, 2021

BlackBerry (BB) Boosts Automotive Innovation With L-SPARK Tie-Up

BlackBerry (BB) partners L-SPARK to launch phase three of the accelerator program. It aims to boost the development of connected vehicle technology innovation for Canada-based technology companies. BlackBerry Limited BB has extended its partnership with L-SPARK to boost the development of connected vehicle technology innovation for Canada-based technology companies. It is worth mentioning that the entities are currently in the third phase of their joint accelerator program.BlackBerry and L-SPARK, Canada’s largest software-as-a-service accelerator, will select up to six companies to participate in the third cohort of this collaborative project. They will seek the expertise of the National Research Council of Canada-Industrial Research Assistance Program to connect with companies that will gain from the BlackBerry QNX product group on the back of innovative technologies.As part of this initiative, both entities will continue to provide access to BlackBerry QNX technology for small and medium-sized technology enterprises (SMEs), thereby accelerating their digital transformation. As a result, the SMEs can introduce breakthrough products while boosting their businesses in the booming tech sector.Thanks to the success of the first and second cohorts, the partnership aims to bring about a massive revolution in the transportation industry by creating a diverse ecosystem of automotive applications and services. Apart from BlackBerry QNX, SMEs will be able to capitalize on BlackBerry IVY platform. The BlackBerry IVY technology is the latest addition to the accelerator program.BlackBerry IVY was co-created with Amazon Web Services (“AWS”) as part of a multi-year, global agreement in December 2020. It is a scalable, cloud-connected software platform that enables automakers to enhance operations of connected vehicles with BlackBerry QNX and AWS technology, thereby creating customized driver and passenger experiences.It reads vehicle sensor data and captures actionable insights with support for multi-cloud deployments. The trailblazing solution facilitates automotive suppliers and automakers to minimize costs by shifting processing to the edge and reducing raw data transmission. Further, it boosts innovation in the automotive industry while unleashing new business models and revenue streams.On the virtue of such robust characteristics and diligent operational execution, the joint accelerator program by BlackBerry and L-SPARK intends to capture valuable insights and unique ideas from the chosen Canada-based tech startups, in turn, delivering high-impact transportation use cases on the back of in-vehicle data. This will help enhance customer experiences while unleashing the potential of next-gen intelligent connected vehicles.Moving forward, BlackBerry intends to drive healthy revenue growth and increase market share in the industry vertical. With a holistic growth model, focusing on organic and inorganic initiatives, the company continues to invest in product development and go-to-market strategy. Riding on such dynamic business fundamentals, BlackBerry appears well prepared to drive long-term sustainable growth, thereby instilling optimism among investors.BlackBerry currently carries a Zacks Rank #3 (Hold). The Waterloo, Ontario-based company’s shares have returned 71% compared with the industry’s growth of 50% in the past year. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.Image Source: Zacks Investment ResearchPTC Inc. PTC is a better-ranked stock in the industry, sporting a Zacks Rank #1. The consensus estimate for current-year earnings has been revised 6.6% upward over the past 60 days.PTC delivered a trailing four-quarter earnings surprise of 47.8%, on average. The stock has gained 3.6% in the past year. PTC has a long-term earnings growth expectation of 13.7%.ANSYS, Inc. ANSS is another solid pick for investors, carrying a Zacks Rank #2 (Buy). The consensus estimate for current-year earnings has been revised 2.4% upward over the past 60 days.ANSYS delivered a trailing four-quarter earnings surprise of 22.7%, on average. It has gained 21.5% in the past year. ANSS has a long-term earnings growth expectation of 11.9%.salesforce.com, inc. CRM also carries a Zacks Rank #2. The Zacks Consensus Estimate for its current-year earnings has been revised 0.5% upward over the past 60 days.salesforce.com delivered a trailing four-quarter earnings surprise of 68.5%, on average. It has returned 18.1% in the past year. CRM has a long-term earnings growth expectation of 16.8%. Zacks’ Top Picks to Cash in on Artificial Intelligence This world-changing technology is projected to generate $100s of billions by 2025. From self-driving cars to consumer data analysis, people are relying on machines more than we ever have before. Now is the time to capitalize on the 4th Industrial Revolution. Zacks’ urgent special report reveals 6 AI picks investors need to know about today.See 6 Artificial Intelligence Stocks With Extreme Upside Potential>>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report salesforce.com, inc. (CRM): Free Stock Analysis Report ANSYS, Inc. (ANSS): Free Stock Analysis Report PTC Inc. (PTC): Free Stock Analysis Report BlackBerry Limited (BB): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research.....»»

Category: topSource: zacksNov 24th, 2021

Spire"s (SR) Q4 Loss Narrower Than Expected, Revenues Beat

Spire's (SR) fourth-quarter fiscal 2021 loss compares favorably with the year-over-year tally. Also, it initiates its fiscal 2022 earnings guidance. Spire Inc. SR reported fourth-quarter fiscal 2021 net economic loss of 32 cents per share, narrower than the Zacks Consensus Estimate of a loss of 68 cents. The same compares favorably with the year-ago loss of 37 cents.RevenuesTotal revenues came in at $290.2 million, which beat the Zacks Consensus Estimate of $234 million by 24%. The top line also improved 15.2% from $251.9 million in the year-ago quarter.Spire Inc. Price, Consensus and EPS Surprise Spire Inc. price-consensus-eps-surprise-chart | Spire Inc. QuoteHighlights of the ReleaseFor the quarter under review, operating expenses of $263.5 million increased 4.6% from the prior-year period’s $251.8 million.Operating income was $26.7 million, up significantly from $0.1 million in the prior-year quarter.Net interest expenses increased 11.9% year over year to $28.2 million in the reported quarter.Financial HighlightsCash and cash equivalents at the end of fiscal 2021 were $4.3 million compared with $4.1 million at the end of fiscal 2020.Long-term debt (less current portion) amounted to $2,939.1 million at the end of fiscal 2021 compared with $2,423.7 million at the end of fiscal 2020.Spire’s net cash provided by operating activities in fiscal 2021 was $249.8 million compared with $469.9 million in fiscal 2020.GuidanceSpire expectes its NEE per share guidance for fiscal 2022 within $3.70-$4. In the long term, SR expects NEE per share to grow 5-7%. This estimate is based on expected annual rate base growth of 7-8%.SR also expects its five-year investment plan through fiscal 2026 to be $3.1 billion and aims to invest $570 million for fiscal 2022.Zacks RankSpire currently has a Zacks Rank #4 (Sell).You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.Other ReleasesNational Fuel Gas Company NFG posted fourth-quarter fiscal 2021 adjusted operating earnings of 95 cents per share, which beat the Zacks Consensus Estimate of 78 cents by 21.8%. Total revenues of $356 million, however, missed the Zacks Consensus Estimate of $430 million by 17.3%.National Fuel Gas revised its fiscal 2022 earnings guidance to the range of $5.05-$5.45 from the prior expectation of $4.40-$4.80. The new guidance takes into consideration the expected increase in the natural gas prices for fiscal 2022. NFG has returned 45.1% in the past 12 months compared with the industry’s rally of 18.1%.Chesapeake Utilities Corp. CPK posted third-quarter 2021 adjusted operating earnings of 71 cents per share, which beat the Zacks Consensus Estimate of 54 cents by 31.5%. Total revenues of $107 million, however, missed the Zacks Consensus Estimate of $114 million by 5.8%.Chesapeake Utilities’ capital expenditure guidance for the 2021-2025 time period is projected in the range of $750-$1 billion. CPK raised its earnings per share guidance to $6.05-$6.25 for 2025. The stock has rallied 25% in the past 12 months.ONE Gas Inc. OGS reported third-quarter 2021 earnings of 38 cents per share, on par with the Zacks Consensus Estimate. Revenues of $273.9 million for the quarter surpassed the Zacks Consensus Estimate of $261 million by 4.9%.ONE Gas narrowed its 2021 net income guided range to $204-$209 million from $198-$210 million and earnings per share expectation to $3.80-$3.90 from the $3.68-$3.92 band. The Zacks Consensus Estimate for OGS’ 2021 earnings has moved 0.8% up in the past 60 days to $3.84 per share. Zacks' Top Picks to Cash in on Artificial Intelligence In 2021, this world-changing technology is projected to generate $327.5 billion in revenue. Now Shark Tank star and billionaire investor Mark Cuban says AI will create "the world's first trillionaires." Zacks' urgent special report reveals 3 AI picks investors need to know about today.See 3 Artificial Intelligence Stocks With Extreme Upside Potential>>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Chesapeake Utilities Corporation (CPK): Free Stock Analysis Report National Fuel Gas Company (NFG): Free Stock Analysis Report Spire Inc. (SR): Free Stock Analysis Report ONE Gas, Inc. (OGS): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research.....»»

Category: topSource: zacksNov 23rd, 2021

First Solar (FSLR) Inks Supply Deal for 5.4GW Solar Modules

First Solar (FSLR) recently signs a multi-year agreement with Lightsource bp and BP for nearly 5.4 gigawatts of First Solar???s photovoltaic solar modules. First Solar, Inc. FSLR recently inked a multi-year agreement with Lightsource bp and BP p.l.c. BP for supplying nearly 5.4 gigawatts (GW) of First Solar’s advanced, ultra-low carbon thin film photovoltaic (PV) solar modules. The agreement is likely to take First Solar a step closer to achieving its target in the solar module arena.First Solar has also signed a memorandum of understanding (MoU). Through the MoU, the company intends to explore opportunities to source electricity from generation assets developed, owned and operated by Lightsource bp in Ohio. It is worth mentioning that First Solar operates the Western Hemisphere’s largest solar manufacturing footprint in Ohio.Details of the DealPer the deal, First Solar has secured orders for delivering nearly 4.4 GW of its modules, with options for supplying an additional 1 GW. These modules will be delivered during the 2023-2025 period.The aforementioned procurement agreement, which marks the largest in First Solar’s history, will support solar development pipelines of Lightsource bp and BP in the United States. As part of the agreement, First Solar is going to deliver 1.55GWDC of modules in 2023, 1.3GWDC in 2024, and 1.55GWDC in 2025.First Solar’s Long-Term PlansTo meet the increasing solar demand worldwide, First Solar has been consistently expanding its manufacturing capacity. In sync with this, in August, First Solar broke ground on its third manufacturing facility in Ohio, which comes with a 3.3GWDC capacity. Once fully operational, the facility is expected to scale up the company’s Northwest Ohio footprint to a total annual capacity of 6GWDC, which is likely to make it the largest fully vertically integrated solar manufacturing complex outside China. Apart from this, the company has facility units in Vietnam and Malaysia.First Solar is also eyeing opportunities in India, wherein the company intends to build a 3.3 GW factory. The facility is expected to be operational by the second half of 2023. With hefty investments in several projects, First Solar aims to double its nameplate manufacturing capacity to 16 GW by 2024. Such expansion plans will enable First Solar to maintain its position as the largest U.S. solar module manufacturer and fulfill its expanded manufacturing capacity targets. This, in turn, is likely to bolster its performance in the long haul.Looking AheadPer a report from Wood Mackenzie, the United States is likely to witness an addition of 160 GW of solar capacity from 2021 to 2026, thus taking total installed photovoltaic solar capacity to more than 250 GW by the end of 2026. Considering the growth projections for the U.S. solar market, the aforementioned initiatives of First Solar are anticipated to yield results in the days ahead.Other solar companies are also investing aggressively in the solar space in a bid to capitalize on the U.S. solar market’s growth potential.For instance, in March, 2021, Enphase Energy, Inc. ENPH announced a partnership with Florida’s Urban Solar, which involves construction of a large-scale commercial solar system with a capacity of 719 kilowatts (kW). The facility will provide electricity to the Praxis of Deerfield Beach senior living community in Deerfield Beach, FL.In the last reported quarter, Enphase Energy delivered an earnings surprise of 27.66%. ENPH has returned a solid 93.3% in the last one year.Similarly, in October 2021,SunPower SPWR announced that it has acquired Blue Raven Solar for $165 million. The buyout provides SunPower the opportunity to expand its footprint in underpenetrated areas including the Northwest and Mid-Atlantic regions.In the last reported quarter, SunPower delivered an earnings surprise of 200.00%. In the past one year, shares of SPWR have returned 32.6%.Likewise, in May 2021, Canadian Solar RUN entered into a long-term power purchase agreement (“PPA”) with Axpo Italia, which will enable the latter to buy electricity worth 12 megawatt-peak (MWp) from two solar plants in Italy. Canadian Solar’s high-efficiency modules will be installed in these two facilities, which boast an estimated annual production of approximately 22 gigawatt-per-hour (GWh).In the last reported quarter, Canadian Solar delivered an earnings surprise of 133.33%. CSIQ stock has returned 2% in the past one year.Price MovementIn a year’s time, shares of First Solar have gained 24.4% compared with the industry’s growth of 9.5%.Image Source: Zacks Investment ResearchZacks RankFirst Solar currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. Zacks' Top Picks to Cash in on Artificial Intelligence In 2021, this world-changing technology is projected to generate $327.5 billion in revenue. Now Shark Tank star and billionaire investor Mark Cuban says AI will create "the world's first trillionaires." Zacks' urgent special report reveals 3 AI picks investors need to know about today.See 3 Artificial Intelligence Stocks With Extreme Upside Potential>>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report BP p.l.c. (BP): Free Stock Analysis Report First Solar, Inc. (FSLR): Free Stock Analysis Report SunPower Corporation (SPWR): Free Stock Analysis Report Enphase Energy, Inc. (ENPH): Free Stock Analysis Report Sunrun Inc. (RUN): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research.....»»

Category: topSource: zacksNov 23rd, 2021

Illumina"s (ILMN) New Alliance to Accelerate Genomics in China

Illumina's (ILMN) Genomics Incubator will support companies poised to deliver breakthrough applications in genomics and multiomics. Illumina, Inc. ILMN recently formed an alliance with investment firm Sequoia Capital China to launch a genomics incubator in China. Jointly, the companies announced the selection of the first two startup companies joining the Sequoia Capital China Intelligent Healthcare Genomics Incubator, Powered by Illumina. The incubator serves as a company creation engine to support life sciences startups poised to offer breakthrough applications in genomics and multiomics.The establishment of this startup incubator demonstrates Illumina's commitment to supporting the development of the genomics industry in China and is an essential part of the company's long-term localization strategy.Few Words on Illumina for StartupsIllumina's genomics incubator initiative -- Illumina for Startups -- focuses on creating an innovative ecosystem for the genomics industry by partnering venture capital investors with entrepreneurs to create, launch, and grow genomics startups.Illumina for Startups initiatives include Illumina Accelerator, founded in 2014, and Sequoia Capital China Intelligent Healthcare Genomics Incubator, Powered by Illumina, launched in 2021.Illumina Accelerator has invested in 61 genomics startups globally, collectively raising more than $1.00 billion in venture capital funding. Applications for the second funding cycle are open until Mar 1, 2022.More on the News   The first startup selected for the inaugural funding cycle is Mobidrop Biotechnology -- a medical device and research tools company developing cutting-edge, single-cell sequencing microfluidic technologies for molecular diagnostics applications.The second startup selected is Sequanta Technologies -- a multiomics company committed to building DNA, RNA, epitome, and proteomics technology platforms for research and clinical applications.Image Source: Zacks Investment ResearchFurther, the startups will be selected twice a year to join the incubator for a six-month funding cycle and Sequoia Capital China will offer them access to investment and business guidance.Significance of the LaunchThe incubator's launch marks a new milestone for genomics startups and entrepreneurs in China. Together with Sequoia Capital China and leading genomics entrepreneurs, Illumina looks forward to unlocking the power of the genome to improve human health in China and beyond.Per Illumina’s management, by leveraging this first-of-its-kind platform and together with Sequoia Capital China, the company continues to expand China's biotechnology innovation and business presence as well as advance groundbreaking discoveries with the aim to help millions of patients in China and around the world.Industry ProspectsPer a report by MarketsandMarkets, the global genomics market was valued at $18.9 billion in 2019 and is projected to reach $35.7 billion by 2024, at a CAGR of 13.5%. Factors like growing institutional support for genomic research projects, a significant decrease in sequencing costs and increasing applications of genomics are likely to drive the market.Recent DevelopmentsIn November 2021, Illumina announced that its sequencing and bioinformatics solutions are being used by HostSeq, part of the Canadian COVID-19 Genomics Network, to spot biomarkers that can help predict the potential risk of serious diseases and support the development of novel therapeutics to tackle COVID-19.In the same month, Illumina, in collaboration with Genetic Alliance, announced the establishment of the iHope Genetic Health program. This development aims to provide whole-genome sequencing access (WGS) to low- and middle-income communities around the world impacted by genetic disease.Price PerformanceShares of the company have gained 23.4% in a year against the industry’s fall of 14.1%.Zacks Rank and Key PicksIllumina currently carries a Zacks Rank #5 (Strong Sell).A few better-ranked stocks from the broader medical space are Chemed Corporation CHE, Laboratory Corporation of America Holdings, or LabCorp LH and Medpace Holdings, Inc. MEDP.Chemed, carrying a Zacks Rank #2, has a long-term earnings growth rate of 7.7%. The company surpassed earnings estimates in three of the trailing four quarters and missed in one. It has a trailing four-quarter earnings surprise of 5.6%, on average.Chemed has outperformed the industry in the past year. CHE has gained 3.7% against a 35.6% decline of the industry.LabCorp, carrying a Zacks Rank #2, reported third-quarter 2021 adjusted earnings per share (EPS) of $6.82. The bottom line surpassed the Zacks Consensus Estimate by 42.9%. Revenues of $4.06 billion outpaced the Zacks Consensus Estimate by 13.4%. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.LabCorp has an estimated long-term growth rate of 10.6%. LH has a trailing four-quarter earnings surprise of 25.7%, on average.Medpace reported third-quarter 2021 adjusted EPS of $1.29, surpassing the Zacks Consensus Estimate by 20.6%. Revenues of $295.57 million beat the Zacks Consensus Estimate by 1.2%.Medpace has an estimated long-term growth rate of 16.4%. MEDP has a trailing four-quarter earnings surprise of 11.9%, on average. It currently sports a Zacks Rank #2. Zacks' Top Picks to Cash in on Artificial Intelligence In 2021, this world-changing technology is projected to generate $327.5 billion in revenue. Now Shark Tank star and billionaire investor Mark Cuban says AI will create "the world's first trillionaires." Zacks' urgent special report reveals 3 AI picks investors need to know about today.See 3 Artificial Intelligence Stocks With Extreme Upside Potential>>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Laboratory Corporation of America Holdings (LH): Free Stock Analysis Report Illumina, Inc. (ILMN): Free Stock Analysis Report Chemed Corporation (CHE): Free Stock Analysis Report Medpace Holdings, Inc. (MEDP): Free Stock Analysis Report To read this article on Zacks.com click here......»»

Category: topSource: zacksNov 23rd, 2021

Samsung Reportedly Picks Texas for $17 Billion U.S. Semiconductor Plant

Samsung is planning to invest $17 billion and create about 1,800 jobs in Taylor, Texas over the first 10 years, according to documents submitted to local officials. Samsung Electronics has decided to build an advanced U.S. chip plant in Texas, a win for the Biden administration as it prioritizes supply chain security and greater semiconductor capacity on American soil. South Korea’s largest company has decided on the city of Taylor, roughly 30 miles from its existing giant manufacturing hub in Austin, a person familiar with the matter said. Samsung and Texas officials will announce the decision Tuesday afternoon, according to people familiar with the matter, asking not to be identified because the news hasn’t been made public. A Samsung representative said it hadn’t made a final decision and declined further comment. [time-brightcove not-tgx=”true”] Samsung is hoping to win more American clients and narrow the gap with Taiwan Semiconductor Manufacturing Co. Its decision, which came months after de facto leader Jay Y. Lee was released from prison on parole, follows plans by TSMC and Intel Corp. to spend billions on cutting-edge facilities globally. The industry triumvirate is racing to meet a post-pandemic surge in demand that’s stretched global capacity to the max, while anticipating more and more connected devices from cars to homes will require chips in future. The new plant will augment Samsung’s already sizable presence in Austin, where it’s invested about $17 billion to date on a sprawling complex that houses more than 3,000 employees and fabricates some of the country’s most sophisticated chips. Samsung’s planning to invest another $17 billion and create about 1,800 jobs over the first 10 years, according to documents the company submitted to Taylor officials. Korea’s Yonhap and the Wall Street Journal had reported earlier on Taylor’s selection. The Asian giant is taking advantage of a U.S. government effort to counter China’s rising economic prowess and lure home some of the advanced manufacturing that in past decades has gravitated toward Asia. That ambition crystallized after a global chip shortage hobbled the tech and auto industries, cost companies billions in lost revenue and forced plants to furlough workers, exposing U.S. vulnerability to diversified supply chains. In June, President Joe Biden laid out a sweeping effort to secure critical supply chains, including a proposed $52 billion to bolster domestic chipmaking. His administration has repeatedly voiced the need to increase chip production in the U.S., saying that was the best way to compete with China and mitigate supply chain disruptions like the one stemming from Covid 19. Last month, the U.S. created an “early alert system” to detect Covid-related shocks. And it asked producers and consumers of semiconductors to complete a survey about inventories, demand, and delivery systems, to identify potential issues. Recently, Intel’s troubles ramping up on technology and its potential reliance in the future on TSMC and Samsung for at least some of its chipmaking have underscored the extent to which Asian giants have pulled ahead in recent years. The administration discouraged Intel from pursuing plans to operate a factory in Chengdu, China to manufacture silicon wafers. The White House has also called on Democrats in the House of Representatives to pass a $52 billion bill known as the CHIPS Act, which would fund domestic semiconductor research and manufacturing. Administration officials have pointed to the bill when pressed about security concerns in Taiwan, the world’s foremost chip producer. Commerce Secretary Gina Raimondo said Congress should pass the legislation as “quickly as possible” when asked if the U.S needed a clearer defense strategy related to the island. Samsung adds to a growing list of companies moving to or expanding in Texas. In the last year, electric carmaker Tesla Inc. said it would move headquarters to the state, as did Oracle Corp. and Hewlett Packard Enterprise Co. Samsung’s move would be a win for Texas Republican governor Greg Abbott, who has long touted the Lone Star state’s business-friendly tax policies and is gearing up for a re-election battle next year. The local government pulled out the stops to snag Samsung, including waiving 90% of property taxes for a decade, and 85% for the following 10 years. Abbott is scheduled to make a statement about the state’s economy at 5 p.m. local time Tuesday. Samsung itself has been accelerating investment activity since Lee was released from jail, where he was serving time for corruption. It unveiled a commitment to bolster South Korea’s economy by spending 240 trillion won ($205 billion) and expand hiring to 40,000 people over the next three years. It’s going head-to-head in Intel’s backyard with TSMC, which is on track to start production on its own $12 billion chip plant in Arizona by 2024. Samsung is trying to catch TSMC in the so-called foundry business of making chips for the world’s corporations — a particularly pivotal capability given a deepening shortage of semiconductors in recent months. Samsung’s envisioned U.S. foundry will adopt ASML Holding NV’s extreme ultraviolet lithography equipment. The company, which has struggled with poor yields on advanced chip processes for years, has been improving and accelerating its capacity expansion at home. It aims to mass-produce 3-nanometer chips via so-called Gate All Around technology around 2022, employing what some regard as game-changing technology that can more precisely control current flows across channels, shrink chip areas and lower power consumption. Rival Intel has pledged to retake its industry lead by 2025. —With assistance from Justin Sink, Debby Wu, Peter Elstrom, Tom Giles and Matthew Miller......»»

Category: topSource: timeNov 23rd, 2021

Nokia (NOK) to Boost WorldLink"s Internet Service in Nepal

With Nokia's (NOK) Beacon 1.1, WorldLink's customers are likely to benefit from reliable and fast indoor coverage. Nokia Corp. NOK recently announced that its Wi-Fi Beacon 1.1 mesh access point has been deployed by WorldLink Communications to provide an exceptional home Wi-Fi experience for subscribers.WorldLink is the largest broadband Internet service provider in Nepal. This initiative strengthens the long-standing partnership between the two companies.The service will be offered through WorldLink’s Photon Internet, which boasts a 300 Mbps speed for home and enterprise customers. The Beacon 1.1 uses Nokia’s Wi-Fi Mesh technology to overcome barriers to deliver excellent Internet connectivity for every device at home.Nokia’s shares have gained 47.6% in the past year compared with the industry’s growth of 26.8%.Image Source: Zacks Investment ResearchWith Nokia’s Beacon 1.1, WorldLink’s customers are likely to benefit from a reliable and fast indoor coverage. The solution will also enable the service provider to offer innovative services like home automation with the Internet of Things.Nokia is well-poised to benefit from the ongoing technology cycle given the strength of its end-to-end portfolio. It has made meaningful progress in its three-phased journey of value creation. Its focus on capital allocation and technology leadership is likely to help it grow profitably.The company aims to expand its business into targeted, high-growth, and high-margin vertical markets to address growth opportunities beyond its traditional primary markets.Nokia is focused on its strategy that hinges on four priorities. The first priority is to lead in high-performance end-to-end networks with its communications service provider customers. The second one is its relentless pursuit to expand network sales to select vertical markets. Building a strong standalone software business is the third priority. Fourthly, it aims to create new business and licensing opportunities in the consumer ecosystem.NOK currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.Clearfield, Inc. CLFD is a better-ranked stock in the industry, carrying a Zacks Rank #2 (Buy). The Zacks Consensus Estimate for its current-year earnings has been revised 8.8% upward over the past 30 days.Clearfield delivered a trailing four-quarter earnings surprise of 50.8%, on average. It has soared 188.7% in the past year.Qualcomm, Inc. QCOM, carrying a Zacks Rank #2, is another solid pick for investors. The consensus estimate for current-year earnings has been revised 0.1% upward over the past seven days.Qualcomm delivered a trailing four-quarter earnings surprise of 11.2%, on average. It has gained 27.6% in the past year.Harmonic, Inc. HLIT sports a Zacks Rank #1. The consensus estimate for current-year earnings has been revised 23.1% upward over the past 30 days.Harmonic delivered a trailing four-quarter earnings surprise of 61.1%, on average. The stock has appreciated 68.7% in the past year. More Stock News: This Is Bigger than the iPhone! It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 77 billion devices by 2025, creating a $1.3 trillion market. Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 4 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2022.Click here for the 4 trades >>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 Nokia Corporation (NOK): Free Stock Analysis Report Harmonic Inc. (HLIT): Free Stock Analysis Report Clearfield, Inc. (CLFD): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research.....»»

Category: topSource: zacksNov 19th, 2021

A Food Industry Reset Can Cut At Least 10% Of Global Emissions

S&P Global Ratings’ most recent report has found that the food system is responsible for about one-third of global GHG emissions, including up to 10% from lost or wasted food. Food supply disruptions due to the pandemic and extreme weather have further brought this issue into the spotlight. However, if it optimises its food production […] S&P Global Ratings’ most recent report has found that the food system is responsible for about one-third of global GHG emissions, including up to 10% from lost or wasted food. Food supply disruptions due to the pandemic and extreme weather have further brought this issue into the spotlight. However, if it optimises its food production and supply chain by adopting more efficient systems, the food industry could reduce food waste which would, in turn, help pave the way to a more sustainable future. if (typeof jQuery == 'undefined') { document.write(''); } .first{clear:both;margin-left:0}.one-third{width:31.034482758621%;float:left;margin-left:3.448275862069%}.two-thirds{width:65.51724137931%;float:left}form.ebook-styles .af-element input{border:0;border-radius:0;padding:8px}form.ebook-styles .af-element{width:220px;float:left}form.ebook-styles .af-element.buttonContainer{width:115px;float:left;margin-left: 6px;}form.ebook-styles .af-element.buttonContainer input.submit{width:115px;padding:10px 6px 8px;text-transform:uppercase;border-radius:0;border:0;font-size:15px}form.ebook-styles .af-body.af-standards input.submit{width:115px}form.ebook-styles .af-element.privacyPolicy{width:100%;font-size:12px;margin:10px auto 0}form.ebook-styles .af-element.privacyPolicy p{font-size:11px;margin-bottom:0}form.ebook-styles .af-body input.text{height:40px;padding:2px 10px !important} form.ebook-styles .error, form.ebook-styles #error { color:#d00; } form.ebook-styles .formfields h1, form.ebook-styles .formfields #mg-logo, form.ebook-styles .formfields #mg-footer { display: none; } form.ebook-styles .formfields { font-size: 12px; } form.ebook-styles .formfields p { margin: 4px 0; } Get The Full Henry Singleton Series in PDF Get the entire 4-part series on Henry Singleton in PDF. Save it to your desktop, read it on your tablet, or email to your colleagues (function($) {window.fnames = new Array(); window.ftypes = new Array();fnames[0]='EMAIL';ftypes[0]='email';}(jQuery));var $mcj = jQuery.noConflict(true); Q3 2021 hedge fund letters, conferences and more Key Takeaways Each year, a staggering one-third of food produced globally--worth almost $1 trillion--is lost or wasted, with unconsumed food contributing up to 10% of global greenhouse gases (GHG) in addition to emissions from farming, processing, and other activities. More efficient food systems will help eliminate food loss and waste while reducing the impact on the environment, especially since about 14% of the world's food is lost before reaching supermarket shelves. With the U.N.'s 2030 target for halving per capita food waste fast approaching, we believe the food industry can create a path to more sustainable food production and supply through closer collaboration and process integration. Companies able and willing to adjust their business models and adopt sustainable agronomic practices can strengthen their resilience to operating setbacks and reduce food-related emissions, while delivering higher margins through value-added product offerings. Studies suggest that the food system is responsible for about one-third of global GHG emissions, including up to 10% from lost or wasted food. This stands out when compared with about 12% from manufacturing and construction and 14% for the transportation sector, according to data from the World Resources Institute (WRI). Food supply disruptions, especially over the past two years due to the pandemic and extreme weather, have brought this issue further into the spotlight. Last year, for example, one of the warmest on record according to the World Meteorological Organization, thunderstorms, wildfires, plagues, and drought destroyed millions of hectares of crops and displaced thousands of people. In addition, COVID-19-related restrictions severely hampered the transport of agricultural commodities over air, land, and sea. This increased the amount of food lost or wasted at the production and retail stages, already vulnerable to storage capacity, freight availability, and political instability among other factors. S&P Global Ratings believes agribusinesses can strengthen the food production and supply chain through closer collaboration at every stage, both downstream and upstream. There are meaningful gains to be had, for example by companies expanding into advanced food ingredient technologies to improve product shelf life, or by integrating transport with processing and sales. Some companies are already rethinking their long-term strategies, putting greater emphasis on managing environmental and social risks. We believe they stand to gain a competitive advantage using this approach. The big question is whether they can do enough to have a visible impact on food-related emissions by 2030. The High Cost Of Food Loss Although limited data is available, the Food and Agriculture Organization (FAO) estimates (2016) show that, excluding retail and households, about 14% of the world's food is lost between the harvest and retail stages. Before and during consumption, the highest food loss and waste per capita occurs in Asia, according to a World Economic Forum report, followed by North America and Europe. The report states that "if food waste were a country, it would rank behind only the U.S. and China for greenhouse gas emissions." The UN Environment Program (UNEP)'s Food Waste Index indicates that, in 2019, 61% of food waste came from households, 26% from food service, and 13% from retail. A large share of food waste stems from consumers, food providers, and retailers in developed markets. In North America, the U.S. Department of Agriculture estimates that, in 2010, 31% of the domestic food supply was lost, to the tune of about $161 billion. Seven years later, a report by the National Conference of State Legislatures showed that about 40% of food produced in the U.S. is wasted throughout the supply chain, from farms to households, while 41 million Americans faced food insecurity in 2016. In the U.K., despite considerable progress in this area, estimates show that households and businesses still waste around 9.5 million tonnes (mt) of food per year (70% intended for human consumption) valued at over £19 billion. The edible portion of this food (6.4 mt) would have been enough to feed the entire U.K. population three meals a day for 11 weeks. Food is wasted in many ways. Here are just three of them: Edible fresh produce not meeting certain criteria, for example in terms of shape, size, and color, is dumped during sorting operations. Foods that are close to, at, or beyond the "best before" date are often discarded by retailers and consumers. Large quantities of edible food not eaten by households and restaurants are often thrown away. More Businesses Need To Focus On Sustainability While the world is focusing on the energy transition, the U.N.'s 17 sustainable development goals (SDGs) are keeping the attention on issues such as hunger, poverty, climate action, and sustainable cities and communities. Resolving these clearly also support the reduction of GHG emissions. In particular, SDG 12 is to ensure sustainable consumption and production patterns, including a target (SDG 12.3) to halve--by 2030--per capita food waste at the retail and consumer levels, while reducing food losses during production and supply. Over 190 countries formally agreed to the SDGs, set in 2015, as part of the U.N.'s 2030 Agenda for Sustainable Development. Yet only 1% of food companies' business models support responsible consumption and production, according to a September 2020 Trucost survey of 3,500 companies representing 85% of global market capitalization. And not much time is left before 2030. The Trucost report also states that about 90% of the companies it examined provide products and services related to food logistics, including taking products from harvest through to consumption. Among the largest global food corporations working with farmers, retailers, and other organizations in support of the SDGs are market leader Cargill, which has launched several initiatives under its Sustainable Supply Chains program (beef, cocoa, corn, and cotton, among others). Similarly, ADM (food and beverage ingredients) has SDG-aligned environmental targets it aims to achieve by 2035, including a 25% drop in GHG emissions. Nestle (more than 2,000 food and beverage brands) has committed to tackling emissions through 100% deforestation-free supply by 2022, 100% recyclable or reusable packaging by 2025, and food loss/waste reduction targets. Bunge (the world's largest oilseed processor) has an ambitious goal that includes a deforestation-free supply chain by 2025. Mondelez (brands include Cadbury, Philadelphia, and Oreo) reports that it's on track with its 2022-2025 sustainable-ingredients targets. Danone (including Activia, Alpro, and Silk) has pledged a 50% reduction of food waste from the 2016 level, plus 100% next-generation, recyclable, biodegradable packaging by 2025. There Are Many Possible Solutions Several global companies plan to effect changes to reduce the environmental impact of their own activities, but this is not enough to transform the entire food production and supply chain. Successful collaboration and consolidation won't be easy, but food companies have several options open to them. Support for farmers and the local salesforce through better data, technology, and training. We believe direct links with farmers and closer relationships with salespeople where crops are grown are increasingly important to limit loss at production. In large crop-producing regions such as the eastern coast of Latin America, South East Asia, and the Black Sea, local currency inflation and volatility often mean that farmers make storage, sale, and process decisions every week, depending on trading data. Such fragmented decision-making means that transport companies operating with long-term contracts might see their freight capacity underutilized if farmers renege on supply contracts. This is a particular risk if the monetary penalty for farmers is small relative to the potential gain of diverting the sale. Value-added products in food processing can help reduce waste further down the line and offer agribusinesses opportunities for profitable growth. Innovative technologies can help reduce waste at consumer level by improving the shelf life and appearance of staple foods. In addition, they can promote more efficient crop use by improving the taste and texture of more environmentally friendly plant-based food. Many companies are investing in this are also looking at new materials, to be used, among other things, in food handling and packaging. Collaboration with retailers is key to cutting distribution inefficiencies and food waste at households. This will enable large agribusinesses and consumer product companies to reap the full benefits of their measures to tackle food waste. Grocers, for instance, can play a huge role in influencing consumers' food choices and attitude toward waste. In recognition of this, leading agribusinesses, consumer products groups, and food retailers have joined the WRI's "10x20x30" initiative since it launched in 2019. The program aims to drive progress on SDG 12.3, using a "whole chain" approach, with participating companies pledging to engage with at least 20 of their suppliers and--together--halve their food loss and waste by 2030. Adoption of the "Target-Measure-Act" strategy can help track sources of waste/loss, find solutions, and record progress. The strategy was launched by U.K. sustainable resources advocate WRAP and the IDG (Institute of Grocery Distribution) in 2018 as part of the country's Food Waste Reduction Roadmap, which is geared toward the U.N.'s SDG 12.3 target. Three years into the program, nearly 200 companies, including top global names like Unilever, Nestle, Mondelez, and PepsiCo have committed to using the Target-Measure-Act method to speed up food loss/waste reduction in their operations, and make the results public. U.K.-based Tesco was the first retailer to use the approach, inviting 27 suppliers to take part in 2017. WRAP has also called on COP26 delegates to adopt to Target-Measure-Act to tackle climate change. The U.K.'s September 2021 Food Waste Reduction Roadmap progress report showed that businesses had lowered food waste by an estimated 17%--worth £365 million--over the previous year. The U.K. is the first nation to create a plan to achieve SDG 12.3's target of reducing food loss and waste by 50% by 2030. Increased use of processed food byproducts and restaurant waste for renewable fuels. Animal fats and meal resulting from meat processing, well as cooking oils from food-service establishments, are increasingly being used to produce renewable fuel, thereby reducing the amount of waste as well as reliance on fossil fuel. Under initiatives such as the U.S. National Renewable Fuel Standard Program, gasoline refiners are required to increase their blend of such biofuels into the gasoline supply, with production mandates for renewable and biofuels expected to increase by more than 20% in 2022 compared with 2020 levels. Continued biofuel demand growth will also increase the economic value of such byproducts for recycling into fuels. In fact, a market for various grease grades (for example yellow grease, choice white grease, and poultry grease) already exists, with prices rising more than 100% year over year in the quarter ended Sept. 30, 2021, according to the Jacobson Index. What Food Companies Are Already Doing We see global agri-commodity companies consolidating their agricultural platforms (such as for grain, coffee, and cotton), while pursuing geographic expansion and shifting their product mix toward more sustainable alternatives. Scale and cost efficiencies should enable them to deliver affordable products. However, they are increasingly recognizing that to improve supply chain sustainability, they have to invest upstream as well as downstream to reduce reliance on less sustainable food inputs even though they may be more cost effective. The related investments typically stop short of direct ownership of farmland and crop production, but look at all parts of the food system's infrastructure. This includes partnering with growers and supporting them with new sustainable technologies and processes. Such an approach could entail optimizing drying, storage, and quality controls, land transit, and the high volume of crops passing through port terminals. Article by S&P Global Ratings Updated on Nov 17, 2021, 11:56 am (function() { var sc = document.createElement("script"); sc.type = "text/javascript"; sc.async = true;sc.src = "//mixi.media/data/js/95481.js"; sc.charset = "utf-8";var s = document.getElementsByTagName("script")[0]; s.parentNode.insertBefore(sc, s); }()); window._F20 = window._F20 || []; _F20.push({container: 'F20WidgetContainer', placement: '', count: 3}); _F20.push({finish: true});.....»»

Category: blogSource: valuewalkNov 17th, 2021

NVIDIA"s (NVDA) Arm Deal Faces In-Depth Security Probe in UK

NVIDIA's (NVDA) Arm buyout deal faces fresh hurdles as the U.K.'s antitrust agency initiates a "Phase Two" probe of the proposed acquisition over competition and national security grounds. NVIDIA’s NVDA proposed deal to acquire U.K.-based semiconductor chip designer, Arm Holdings, encountered another major hurdle after the British government ordered an in-depth investigation of the transaction over competition and national security concerns.U.K.’s Secretary of State for Culture and Digital, Nadine Dorries, yesterday revealed that she has instructed the Competition and Markets Authority (“CMA”) to carry a “Phase Two” probe of the proposed acquisition.The CMA has been given 24 weeks to deliver a final report, with a provision to extend the time frame for eight more weeks. Based on the reports filed by the agency, the U.K. government could block the deal on one or both grounds, clear it on both grounds or approve it with certain conditions.What’s Concerning Agencies About the NVIDIA-Arm Deal?The reliable access to Arm’s technologies and the resilient supply chain are of utmost importance for the U.K.’s national security and defense departments. Moreover, the England-based chip designer is often referred to as the Switzerland of the semiconductor industry and plays a neutral role in the space. Therefore, the deal is feared to block this chip access neutrality and could favor the U.S. owner over its rivals.The CMA in its August 2021 report has already warned that following the acquisition, NVIDIA could cut off Arm’s technology access to its rivals and lead to lesser competition, stifle innovation and push up chip prices.NVIDIA-Arm Deal Faces Multiple HurdlesOn Sep 13, 2020, NVIDIA inked an agreement to acquire Arm from its existing owner, Softbank Group Corporation, in a cash-and-stock deal worth $40 billion. A rise of approximately 147% in NVDA’s stock price has increased the value of the deal more than $50 billion.NVIDIA Corporation Price and Consensus NVIDIA Corporation price-consensus-chart | NVIDIA Corporation QuoteHowever, the deal has caught the attention of competition regulatory bodies of several countries. Following the initiation of the investigation from the CMA in January 2021, the U.S. competition regulator, the Federal Trade Commission (“FTC”) opened a probe on grounds of competition in February.The FTC has sought more detailed information about the transaction from all the three companies — NVIDIA, Arm and Softbank. It has also asked other relevant companies that might provide information regarding this deal.The European and Chinese regulatory bodies are also gearing up to launch lengthy investigations over whether the sale of Arm to NVIDIA could impact competition and disrupt the global industry-wide chip supply chain.Tech Giants Opposing the DealAdditionally, several tech companies, including Alphabet’s GOOGL Google, Microsoft MSFT and Qualcomm QCOM, have opposed the transaction and asked the U.S. anti-trust regulators to intervene.These firms are arguing that the acquisition would provide NVIDIA control over Arm’s intellectual property (“IP”) rights, which license chip designs and related software to those willing to pay for the same, including rivals to one another.Qualcomm has been more vocal in opposing the deal. Arm supplies IP rights to the company whose chip designs are found in most of the smartphones around the globe. The company is worried that following the acquisition, NVIDIA could limit its access to Arm’s chip licenses, which have built its mobile chip empire using the latter’s designs.Qualcomm has also stated that it is open to invest in Arm if the regulatory bodies block NVIDIA’s deal. Arm’s other customers, Alphabet and Microsoft, have also voiced similar concerns that NVDA might limit the access to Arm’s technologies or raise the prices.ConclusionNVIDIA aims to integrate its AI computing platform with Arm’s expertise in a bid to create a premier computing entity. Additionally, the company had earlier stated that the transaction would be immediately accretive to the non-GAAP gross margin and non-GAAP earnings per share post the transaction’s closure.However, looking at the protest by major tech companies and the intensifying antitrust scrutiny by several regulators across the world, it would be a difficult task for NVIDIA to win an approval for Arm’s acquisition.With multiple antitrust agencies initiating fresh in-depth probes, NVDA is most likely to miss its initial target of completing the acquisition in March 2022. The European Union has set a Mar 15, 2022 deadline to disclose its final decision about the proposed transaction. Also, U.K.’s “Phase Two” probe’s time frame of 24 weeks plus an eight-week extension translates that the government’s final decision would come by June-end 2022.Currently, Alphabet sports a Zacks Rank #1 (Strong Buy), while NVIDIA and Qualcomm carry a Zacks Rank #2 (Buy). Microsoft carries a Zacks Rank #3 (Hold), at present. You can see the complete list of today’s Zacks #1 Rank stocks here.The long-term earnings growth rate projections for Alphabet, NVIDIA, Qualcomm and Microsoft are pegged at 25.8%, 19.5%, 17.5% and 12%, respectively. Shares of GOOGL, NVDA, QCOM and MSFT have soared 68.7%, 131.3%, 19.3% and 52.6%, respectively, in the year so far. Zacks’ Top Picks to Cash in on Artificial Intelligence This world-changing technology is projected to generate $100s of billions by 2025. From self-driving cars to consumer data analysis, people are relying on machines more than we ever have before. Now is the time to capitalize on the 4th Industrial Revolution. Zacks’ urgent special report reveals 6 AI picks investors need to know about today.See 6 Artificial Intelligence Stocks With Extreme Upside Potential>>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report QUALCOMM Incorporated (QCOM): Free Stock Analysis Report Microsoft Corporation (MSFT): Free Stock Analysis Report NVIDIA Corporation (NVDA): Free Stock Analysis Report Alphabet Inc. (GOOGL): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research.....»»

Category: topSource: zacksNov 17th, 2021

TripAdvisor (TRIP) Partners Visit Orlando to Gain Travelers

TripAdvisor (TRIP) collaborates with Visit Orlando to create the first immersive audio experience in North America on the back of Amazon Alexa. TripAdvisor TRIP is leaving no stone unturned to provide an enhanced traveling experience to travelers on the back of strategic partnerships.The company recently collaborated with the Official Tourism Association for Orlando, Visit Orlando, and created its first immersive audio experience in North America with the help of Amazon’s AMZN virtual assistant technology named Amazon Alexa. This validates the abovementioned fact.On the back of Amazon Alexa, TripAdvisor aims to provide travelers innovative ways to learn about Orlando and generate travel demand in the city.Further, visitors can listen to reviews on Alexa devices or the app from travelers who visited the city before and visit must-see attractive places as well as enjoy experiences of hiking and airboat rides, celebrity-chef dining, local arts and culture along with live performances.Along with the audio experience, the partnership includes branded content sweepstakes, bespoke itineraries, branded email, and other online and offline media promotions.The latest move is likely to expand TripAdvisor’s reach to travelers using Alexa and planning to visit Orlando. This, in turn, might generate more bookings and hence drive top-line growth of the company in the near term.TripAdvisor, Inc. Price and Consensus TripAdvisor, Inc. price-consensus-chart | TripAdvisor, Inc. QuoteGrowing PartnershipsTripAdvisor has been consistently making efforts to widen its reach to travelers worldwide with new launches and services as well as attractive deals and partnerships.Apart from the recent partnership, the company previously collaborated with Amazon’s audiobook providing platform named Audible to provide a perfect companion to travelers by giving them access to Audible’s exclusive contents including Originals, audiobooks and podcasts on their journey.In addition, it tied up with four hotel technology providers, namely SiteMinder, Roiback, Derbysoft and WebHotelier. With the collaboration, thousands of hotels can connect to TripAdvisor Plus and gain more customers.It also collaborated with Reckitt to support the disinfection of 8 million tourism and hospitality businesses listed on its platform to boost confidence among travelers.Further, it joined forces with WarnerMedia's streaming platform, HBO Max, to celebrate pride and support LGBTQIA+ travelers willing to participate in Pride when there will be events across the United States. The alliance promoted Pride curated programming available to stream on HBO Max during the month of June. The partnership reflects TripAdvisor’s focus on diversifying the customer base.Recovery in Travel to Fuel CompetitionThe travel industry witnessed a severe downturn due to the coronavirus pandemic. Nonetheless, the rising vaccination drive and lifting of restrictions in many parts of the world are improving this industry. This, in turn, is boosting the confidence of travelers and online traveling companies.Per a report by Verified Market Research, the global online travel market is expected to hit $1.81 billion by 2028, witnessing a CAGR of 9.7% during the 2021-2028 period.In addition, revenues generated from the U.S. travel and tourism market are likely to touch $186.7 billion by 2026 from $92.1 billion in 2021, registering a CAGR of 15.2% between 2021 and 2026, per a report by statista.In this improving domestic and global travel market, TripAdvisor — a Zacks Rank #4 (Sell) company — faces intense competition from players like Booking Holdings BKNG, Expedia EXPE as well as Airbnb. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.Booking Holdings, Expedia and Airbnb recently took some strong measures to expand their reach to travelers in the United States.Recently, Booking Holdings signed an agreement to acquire a North America-based B2B distributor of hotel rooms, Getaroom, in exchange forrr $1.2 billion. Getaroom will be part of Booking Holdings’ subsidiary Priceline, and contribute to the improvement of B2B distribution for hotel and affiliate partners.Further, Priceline — in collaboration with the U.S. Department of Defense — created a travel booking platform named American Forces Travel to provide exclusive travel benefits to the current and retired members of the country’s armed forces.Meanwhile, Expedia was chosen as the official travel companion of WE LOVE NYC: The Homecoming Concert presented by New York City, Clive Davis and Live Nation on Aug 21.With the move, the company spotlighted popular NYC hotels, flights and activities, offering 1,000 concert tickets to Expedia Rewards members.Further, Airbnb joined forces with Visit Bloomington to promote safe travel with a focus on local attractions, unique stays and experiences in order to boost travel demand in Bloomington.The partnership also focused on supporting local shops, restaurants and workers of the city who depend on the local tourism industry. Zacks’ Top Picks to Cash in on Artificial Intelligence This world-changing technology is projected to generate $100s of billions by 2025. From self-driving cars to consumer data analysis, people are relying on machines more than we ever have before. Now is the time to capitalize on the 4th Industrial Revolution. Zacks’ urgent special report reveals 6 AI picks investors need to know about today.See 6 Artificial Intelligence Stocks With Extreme Upside Potential>>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Amazon.com, Inc. (AMZN): Free Stock Analysis Report Expedia Group, Inc. (EXPE): Free Stock Analysis Report TripAdvisor, Inc. (TRIP): Free Stock Analysis Report Booking Holdings Inc. (BKNG): Free Stock Analysis Report To read this article on Zacks.com click here......»»

Category: topSource: zacksNov 17th, 2021

Spire (SR) Rewards Shareholders With 5.4% Dividend Hike

Backed by a strong operational efficiency, Spire's (SR) Board of Directors raises annual dividend by 5.4% to $2.74 per share. Spire Inc.’s SR board of directors approved a dividend hike of 5.4%, totaling the new annual dividend to $2.74 per share. The quarterly dividend of 68.5 cents per share will be payable on Jan 4, 2022, to shareholders on record as on Dec 10, 2021.The new dividend yield is 4.3% compared with the S&P 500 composite’s 1.3% average.Can This Dividend be Sustained?Spire has a long history of dividend payments and has been paying out dividends consistently for the past 77 years, with the current hike in annual dividend for fiscal 2022 marking the 19th consecutive year of increase. SR’s dividend hike is in line with its target payout ratio of 55-65%.Spire anticipates investing $590 million in fiscal 2021 and more than $3 billion during the fiscal 2021-2025 time period. These investments will increase the reliability of gas services and enable Spire to efficiently meet higher demand from an increasing customer base, effectively.Spire expects this systematic investment to drive 7-8% rate base growth over the long term and is able to recover more than 80% of spending with minimal lag, which continues to boost performance.Spire’s net cash provided by operating activities in the first nine months of fiscal 2021 amounted to $220.7 million. Strong cash flows and systematic investment boost earnings and facilitate the consistent payment of dividends and increase the rate annually.Dividend Hikes in Utility SpaceAlong with Spire, other gas utilities are also boosting shareholder’s value via dividends, like Sempra Energy SRE, UGI Corp. UGI and ONE Gas, Inc. OGS. While Sempra Energy is carrying a Zacks Rank#3 (Hold) at present, UGI Corp. and ONE Gas hold a Zacks Rank#2 (Buy).Sempra Energy hiked dividend by 5.2% in February 2021, which marked the 11th consecutive year of increase. SRE targets a 50-60% dividend payout ratio, going ahead. Such efforts to maximize shareholders’ value through regular dividends will likely boost investors’ interest in the stock.In May 2021, UGI Corp.’s board of directors approved an increase in the quarterly dividend rate to 34.5 cents per share or $1.38 on an annual basis, up 4.5% from the previous quarterly rate of 33 cents per share. This marks UGI’s 137th consecutive year of dividend payment and 34th consecutive year of annual dividend raise.ONE Gas has been raising its annual dividend for the past few years. The annual dividend of $2.32 per share for 2021 reflects an increase of 38.1% from the 2017 level and 7.4% from 2020. OGS aims to increase the annual dividend by 6-8% in the 2020-2025 time period, on an average, subject to approval from the board.Zacks Rank & Price PerformanceIn the past month, this Zacks Rank #3 stock has inched up 0.8% against the industry’s fall of 1.3%. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.One Months’ Price PerformanceImage Source: Zacks Investment Research Zacks' Top Picks to Cash in on Artificial Intelligence In 2021, this world-changing technology is projected to generate $327.5 billion in revenue. Now Shark Tank star and billionaire investor Mark Cuban says AI will create "the world's first trillionaires." Zacks' urgent special report reveals 3 AI picks investors need to know about today.See 3 Artificial Intelligence Stocks With Extreme Upside Potential>>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Sempra Energy (SRE): Free Stock Analysis Report UGI Corporation (UGI): Free Stock Analysis Report Spire Inc. (SR): Free Stock Analysis Report ONE Gas, Inc. (OGS): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research.....»»

Category: topSource: zacksNov 16th, 2021

NRG Energy"s (NRG) Direct Energy Buyout, Green Goals Bode Well

NRG Energy's (NRG) focus on emission reduction along with the strategic takeover of Direct Energy is likely to boost operations. NRG Energy NRG is likely to benefit from the Direct Energy acquisition and a deep focus on cleaner energy generation. Also, diversity in the customer base is likely to enhance its existing operations.The Zacks Consensus Estimate for 2021 earnings per share is pegged at $6.68, indicating a 178.33% rise from the year-ago reported figure. Also, the Zacks Consensus Estimate for 2021 revenues stands at $20.36 billion, implying a 123.92% surge from the year-earlier reported figure.In the past six months, shares of this currently Zacks Rank #3 (Hold) NRG Energy have gained 4.5%, outperforming the industry’s growth of 0.6%. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.Six Months’ Price Performance Image Source: Zacks Investment ResearchTailwindsNRG Energy’s Direct Energy acquisition will advance its customer-focused strategy, and enhance data and analytics. The buyout will create recurring synergies worth $700 million during the 2021-2023 forecast period.None of NRG’s customers contributed more than 10% to its revenues at the end of 2020. Thus, loss of any particular customer will not significantly impact its earnings. Its transformational activities are generating enough funds to meet the current-debt obligations alongside making efforts to slowly lower the proportion of debt in the capital mix.NRG Energy is focusing on clean generation to curtail greenhouse gas emissions along with plans to cut 50% emission by 2025 and reach a net-zero emission target within 2050 from the 2014 baseline. Other utilities like Duke Energy DUK, DTE Energy DTE and Alliant Energy LNT also have plans in place to curb the carbon footprint for a pollution-free environment.While DUK and DTE carry a Zacks Rankof 3 at present, LNT holds a Zacks Rank#2 (Buy). All three stocks are planning to provide absolute clean energy by 2050.DTE Energy remains committed to reduce carbon emissions fromits electric utility operations by 32% within 2023, 50% by 2030 and 80% by 2040 from the 2005 carbon emissions levels. Duke Energy plans to reduce carbon footprint between approximately 55% and 75% through 2035. Alliant Energy aims to retire all its existing coal-fired generation units by 2040 with an objective of lowering emissions from the 2005 baseline by 50% within 2030.WoesIntense competition in the wholesale power markets along with stringent government regulations might hurt the margins. Moreover, NRG Energy’s operations are subject to cyber-based security and integrity risks. Unplanned outages in old facilities might impede growth as well. 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 NRG Energy, Inc. (NRG): Free Stock Analysis Report Duke Energy Corporation (DUK): Free Stock Analysis Report DTE Energy Company (DTE): Free Stock Analysis Report Alliant Energy Corporation (LNT): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research.....»»

Category: topSource: zacksNov 15th, 2021

NRG Energy (NRG) Aims for EV Fleet by 2030, To Cut Emission

On the COP26 Transport Day, NRG Energy (NRG) joins the EV100 program with an objective to electrify its light-duty fleet completely by 2030. NRG Energy, Inc. NRG joins the EV100 initiative on COP26 Transport Day, which underlines its commitment to electrify 100% of its light-duty fleet by 2030. This move takes its green goal (announced in June), a step ahead. Over the long run, NRG aims to apply its expertise to assist customers toward their transition to electric vehicles (EV) from fossil fuel-based transport.About EV100EV100 is a global initiative bringing together companies committed to replace its owned and contracted fleets up to 7.5 tonne by electric vehicles along with installing charging infrastructure for employees and customers within 2030. This will create a low-carbon transport system for its member’s customers.Efforts to Cut EmissionNRG is focusing on clean-energy generation to lower emissions. On Sep 24, 2019, it announced greenhouse gas reduction goals and under this plan, targets to achieve a 50% emission cut by 2025 and net-zero emissions within2050 from the 2014 baseline. NRG’s planned sale of 4.8 Gigawatt (GW) fossil assets is on track to be completed in the fourth quarter of 2021. Also, NRG announced the retirement of 1.6 GW or 55% of its PJM coal generation in 2022.Opportunities in EV SpacePer the Edison Electric Institute, 18.7 million EVs will run on the U.S. roads by 2030, indicating 7% growth from the 2018 levels, and to realize this objective, 9.6 million charge ports will be required. Within the same time frame, annual sales of EVs are expected to exceed 3.5 million.Majority of the charging ports will use electricity produced from clean sources, further lowering carbon emission. Many utilities decided to shift toward clean sources of energy and completely stop using fossil fuels to generate electricity, which increase emission.To reap benefits from the expanding EV market opportunities, other utilities including FirstEnergy FE, Xcel Energy XEL and Duke Energy DUK are also making efforts to electrify their vehicle fleets. Their target to attain 100% carbon neutrality by 2050 is also on track. All these stocks carry a Zacks Rank#3 (Hold) at present.Xcel has goals to power 1.5 million electric vehicles in its service territories by 2030. Also, Duke and FirstEnergy are aiming to reduce emissions from their fleet by electrifying all the light-duty vehicles within 2030.Price MovementIn the past three months, shares of NRG have lost 18.8% compared with the industry’s fall of 0.7%.Three Months Price PerformanceImage Source: Zacks Investment ResearchZacks RankNRG currently carries a Zacks Rank #3. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. Tech IPOs With Massive Profit Potential: Last years top IPOs surged as much as 299% within the first two months. With record amounts of cash flooding into IPOs and a record-setting stock market, this year could be even more lucrative. See Zacks’ Hottest Tech IPOs 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 Xcel Energy Inc. (XEL): Free Stock Analysis Report NRG Energy, Inc. (NRG): Free Stock Analysis Report FirstEnergy Corporation (FE): Free Stock Analysis Report Duke Energy Corporation (DUK): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research.....»»

Category: topSource: zacksNov 11th, 2021

Check out 25 pitch decks that fintechs looking to disrupt trading, banking, and lending used to raise millions

Looking for examples of real fintech pitch decks? Check out pitch decks that Qolo, Lance, and other startups used to raise money from VCs. Check out these pitch decks for examples of fintech founders sold their vision. Yulia Reznikov/Getty Images Insider has been tracking the next wave of hot new startups that are blending finance and tech. Check out these pitch decks to see how fintech founders sold their vision. See more stories on Insider's business page. Fintech VC funding hit a fresh quarterly record of $22.8 billion in the first three months of 2021, according to CB Insights data. While mega-rounds helped propel overall funding, new cash was spread across 614 deals. Insider has been tracking the next wave of hot new startups that are blending finance and tech. Check out these pitch decks to see how fintech founders are selling their vision and nabbing big bucks in the process. You'll see new financial tech geared at freelancers, fresh twists on digital banking, and innovation aimed at streamlining customer onboarding. Real-estate management made easy Agora founders Noam Kahan, CTO, Bar Mor, CEO, and Lior Dolinski, CPO. Agora For alternative asset managers of any type, the operations underpinning sales and investor communications are a crucial but often overlooked part of the business. Fund managers love to make bets on markets, not coordinate hundreds of wire transfers to clients each quarter or organize customer-relationship-management databases.Within the $10.6 trillion global market for professionally managed real-estate investing, that's where Tel Aviv and New York-based startup Agora hopes to make its mark.Founded in 2019, Agora offers a set of back-office, investor relations, and sales software tools that real-estate investment managers can plug into their workflows. On Wednesday, Agora announced a $9 million seed round, led by Israel-based venture firm Aleph, with participation from River Park Ventures and Maccabee Ventures. The funding comes on the heels of an October 2020 pre-seed fund raise worth $890,000, in which Maccabee also participated.Here's the 15-slide pitch deck that Agora, a startup helping real-estate investors manage communications and sales with their clients, used to raise a $9 million seed roundCheckout made easy Bolt's Ryan Breslow. Ryan Breslow Amazon has long dominated e-commerce with its one-click checkout flows, offering easier ways for consumers to shop online than its small-business competitors.Bolt gives small merchants tools to offer the same easy checkouts so they can compete with the likes of Amazon.The startup raised its $393 million Series D to continue adding its one-click checkout feature to merchants' own websites in October.Bolt markets to merchants themselves. But a big part of Bolt's pitch is its growing network of consumers - currently over 5.6 million - that use its features across multiple Bolt merchant customers. Roughly 5% of Bolt's transactions were network-driven in May, meaning users that signed up for a Bolt account on another retailer's website used it elsewhere. The network effects were even more pronounced in verticals like furniture, where 49% of transactions were driven by the Bolt network."The network effect is now unleashed with Bolt in full fury, and that triggered the raise," Bolt's founder and CEO Ryan Breslow told Insider.Here's the 12-page deck that one-click checkout Bolt used to outline its network of 5.6 million consumers and raise its Series DHelping small banks lend CollateralEdge's Joel Radtke, cofounder, COO, and president, and Joe Beard, cofounder and CEO. CollateralEdge For large corporations with a track record of tapping the credit markets, taking out debt is a well-structured and clear process handled by the nation's biggest investment banks and teams of accountants. But smaller, middle-market companies - typically those with annual revenues ranging up to $1 billion - are typically served by regional and community banks that don't always have the capacity to adequately measure the risk of loans or price them competitively. Per the National Center for the Middle Market, 200,000 companies fall into this range, accounting for roughly 33% of US private sector GDP and employment.Dallas-based fintech CollateralEdge works with these banks - typically those with between $1 billion and $50 billion in assets - to help analyze and price slices of commercial and industrial loans that previously might have gone unserved by smaller lenders.On October 20th, CollateralEdge announced a $3.5 million seed round led by Dallas venture fund Perot Jain with participation from Kneeland Youngblood (a founder of the healthcare-focused private-equity firm Pharos Capital) and other individual investors.Here's the 10-page deck CollateralEdge, a fintech streamlining how small banks lend to businesses, used to raise a $3.5 million seed round Quantum computing made easy QC Ware CEO Matt Johnson. QC Ware Even though banks and hedge funds are still several years out from adding quantum computing to their tech arsenals, that hasn't stopped Wall Street giants from investing time and money into the emerging technology class. And momentum for QC Ware, a startup looking to cut the time and resources it takes to use quantum computing, is accelerating. The fintech secured a $25 million Series B on September 29 co-led by Koch Disruptive Technologies and Covestro with participation from D.E. Shaw, Citi, and Samsung Ventures.QC Ware, founded in 2014, builds quantum algorithms for the likes of Goldman Sachs (which led the fintech's Series A), Airbus, and BMW Group. The algorithms, which are effectively code bases that include quantum processing elements, can run on any of the four main public-cloud providers.Quantum computing allows companies to do complex calculations faster than traditional computers by using a form of physics that runs on quantum bits as opposed to the traditional 1s and 0s that computers use. This is especially helpful in banking for risk analytics or algorithmic trading, where executing calculations milliseconds faster than the competition can give firms a leg up. Here's the 20-page deck QC Ware, a fintech making quantum computing more accessible, used to raised its $25 million Series BSimplifying quant models Kirat Singh and Mark Higgins, Beacon's cofounders. Beacon A fintech that helps financial institutions use quantitative models to streamline their businesses and improve risk management is catching the attention, and capital, of some of the country's biggest investment managers.Beacon Platform, founded in 2014, is a fintech that builds applications and tools to help banks, asset managers, and trading firms quickly integrate quantitative models that can help with analyzing risk, ensuring compliance, and improving operational efficiency. The company raised its Series C on Wednesday, scoring a $56 million investment led by Warburg Pincus with support from Blackstone Innovations Investments, PIMCO, and Global Atlantic. Blackstone, PIMCO, and Global Atlantic are also users of Beacon's tech, as are the Commonwealth Bank of Australia and Shell New Energies, a division of Royal Dutch Shell, among others.The fintech provides a shortcut for firms looking to use quantitative modelling and data science across various aspects of their businesses, a process that can often take considerable resources if done solo.Here's the 20-page pitch deck Beacon, a fintech helping Wall Street better analyze risk and data, used to raise $56 million from Warburg Pincus, Blackstone, and PIMCOInvoice financing for SMBs Stacey Abrams and Lara Hodgson, Now cofounders. Now About a decade ago, politician Stacey Abrams and entrepreneur Lara Hodgson were forced to fold their startup because of a kink in the supply chain - but not in the traditional sense.Nourish, which made spill-proof bottled water for children, had grown quickly from selling to small retailers to national ones. And while that may sound like a feather in the small business' cap, there was a hang-up."It was taking longer and longer to get paid, and as you can imagine, you deliver the product and then you wait and you wait, but meanwhile you have to pay your employees and you have to pay your vendors," Hodgson told Insider. "Waiting to get paid was constraining our ability to grow."While it's not unusual for small businesses to grapple with working capital issues, the dust was still settling from the Great Recession. Abrams and Hodgson couldn't secure a line of credit or use financing tools like factoring to solve their problem. The two entrepreneurs were forced to close Nourish in 2012, but along the way they recognized a disconnect in the system. "Why are we the ones borrowing money, when in fact we're the lender here because every time you send an invoice to a customer, you've essentially extended a free loan to that customer by letting them pay later," Hodgson said. "And the only reason why we were going to need to possibly borrow money was because we had just given ours away for free to Whole Foods," she added.Check out the 7-page deck that Now, Stacey Abrams' fintech that wants to help small businesses 'grow fearlessly', used to raise $29 millionInsurance goes digital Jamie Hale, CEO and cofounder of Ladder. Ladder Fintechs looking to transform how insurance policies are underwritten, issued, and experienced by customers have grown as new technology driven by digital trends and artificial intelligence shape the market. And while verticals like auto, homeowner's, and renter's insurance have seen their fair share of innovation from forward-thinking fintechs, one company has taken on the massive life-insurance market. Founded in 2017, Ladder uses a tech-driven approach to offer life insurance with a digital, end-to-end service that it says is more flexible, faster, and cost-effective than incumbent players.Life, annuity, and accident and health insurance within the US comprise a big chunk of the broader market. In 2020, premiums written on those policies totaled some $767 billion, compared to $144 billion for auto policies and $97 billion for homeowner's insurance.Here's the 12-page deck that Ladder, a startup disrupting the 'crown jewel' of the insurance market, used to nab $100 millionEmbedded payments for SMBs The Highnote team. Highnote Branded cards have long been a way for merchants with the appropriate bank relationships to create additional revenue and build customer loyalty. The rise of embedded payments, or the ability to shop and pay in a seamless experience within a single app, has broadened the number of companies looking to launch branded cards.Highnote is a startup that helps small to mid-sized merchants roll out their own debit and pre-paid digital cards. The fintech emerged from stealth on Tuesday to announce it raised $54 million in seed and Series A funding.Here's the 12-page deck Highnote, a startup helping SMBs embed payments, used to raise $54 million in seed and Series A fundingAn alternative auto lender Daniel Chu, CEO and founder of Tricolor. Tricolor An alternative auto lender that caters to thin- and no-credit Hispanic borrowers is planning a national expansion after scoring a $90 million investment from BlackRock-managed funds. Tricolor is a Dallas-based auto lender that is a community development financial institution. It uses a proprietary artificial-intelligence engine that decisions each customer based on more than 100 data points, such as proof of income. Half of Tricolor's customers have a FICO score, and less than 12% have scores above 650, yet the average customer has lived in the US for 15 years, according to the deck.A 2017 survey by the Federal Deposit Insurance Corporation found 31.5% of Hispanic households had no mainstream credit compared to 14.4% of white households. "For decades, the deck has been stacked against low income or credit invisible Hispanics in the United States when it comes to the purchase and financing of a used vehicle," Daniel Chu, founder and CEO of Tricolor, said in a statement announcing the raise.An auto lender that caters to underbanked Hispanics used this 25-page deck to raise $90 million from BlackRock investorsA new way to access credit The TomoCredit team. TomoCredit Kristy Kim knows first-hand the challenge of obtaining credit in the US without an established credit history. Kim, who came to the US from South Korea, couldn't initially get access to credit despite having a job in investment banking after graduating college. "I was in my early twenties, I had a good income, my job was in investment banking but I could not get approved for anything," Kim told Insider. "Many young professionals like me, we deserve an opportunity to be considered but just because we didn't have a Fico, we weren't given a chance to even apply," she added.Kim started TomoCredit in 2018 to help others like herself gain access to consumer credit. TomoCredit spent three years building an internal algorithm to underwrite customers based on cash flow, rather than a credit score.TomoCredit, a fintech that lends to thin- and no-credit borrowers, used this 17-page pitch deck to raise its $10 million Series AAn IRA for alternatives Henry Yoshida is the co-founder and CEO of retirement fintech startup Rocket Dollar. Rocket Dollar Fintech startup Rocket Dollar, which helps users invest their individual retirement account (IRA) dollars into alternative assets, just raised $8 million for its Series A round, the company announced on Thursday.Park West Asset Management led the round, with participation from investors including Hyphen Capital, which focuses on backing Asian American entrepreneurs, and crypto exchange Kraken's venture arm. Co-founded in 2018 by CEO Henry Yoshida, CTO Rick Dude, and VP of marketing Thomas Young, Rocket Dollar now has over $350 million in assets under management on its platform. Yoshida sold his first startup, a roboadvisor called Honest Dollar, to Goldman Sachs' investment management division for an estimated $20 million.Yoshida told Insider that while ultra-high net worth investors have been investing self-directed retirement account dollars into alternative assets like real estate, private equity, and cryptocurrency, average investors have not historically been able to access the same opportunities to invest IRA dollars in alternative assets through traditional platforms.Here's the 34-page pitch deck a fintech that helps users invest their retirement savings in crypto and real estate assets used to nab $8 millionConnecting startups and investors Hum Capital cofounder and CEO Blair Silverberg. Hum Capital Blair Silverberg is no stranger to fundraising.For six years, Silverberg was a venture capitalist at Draper Fisher Jurvetson and Private Credit Investments making bets on startups."I was meeting with thousands of founders in person each year, watching them one at a time go through this friction where they're meeting a ton of investors, and the investors are all asking the same questions," Silverberg told Insider. He switched gears about three years ago, moving to the opposite side of the metaphorical table, to start Hum Capital, which uses artificial intelligence to match investors with startups looking to fundraise.On August 31, the New York-based fintech announced its $9 million Series A. The round was led by Future Ventures with participation from Webb Investment Network, Wavemaker Partners, and Partech. This 11-page pitch deck helped Hum Capital, a fintech using AI to match investors with startups, raise a $9 million Series A.Payments infrastructure for fintechs Qolo CEO and co-founder Patricia Montesi. Qolo Three years ago, Patricia Montesi realized there was a disconnect in the payments world. "A lot of new economy companies or fintech companies were looking to mesh up a lot of payment modalities that they weren't able to," Montesi, CEO and co-founder of Qolo, told Insider.Integrating various payment capabilities often meant tapping several different providers that had specializations in one product or service, she added, like debit card issuance or cross-border payments. "The way people were getting around that was that they were creating this spider web of fintech," she said, adding that "at the end of it all, they had this mess of suppliers and integrations and bank accounts."The 20-year payments veteran rounded up a group of three other co-founders - who together had more than a century of combined industry experience - to start Qolo, a business-to-business fintech that sought out to bundle back-end payment rails for other fintechs.Here's the 11-slide pitch deck a startup that provides payments infrastructure for other fintechs used to raise a $15 million Series ASoftware for managing freelancers Worksome cofounder and CEO Morten Petersen. Worksome The way people work has fundamentally changed over the past year, with more flexibility and many workers opting to freelance to maintain their work-from-home lifestyles.But managing a freelance or contractor workforce is often an administrative headache for employers. Worksome is a startup looking to eliminate all the extra work required for employers to adapt to more flexible working norms.Worksome started as a freelancer marketplace automating the process of matching qualified workers with the right jobs. But the team ultimately pivoted to a full suite of workforce management software, automating administrative burdens required to hire, pay, and account for contract workers.In May, Worksome closed a $13 million Series A backed by European angel investor Tommy Ahlers and Danish firm Lind & Risør.Here's the 21-slide pitch deck used by a startup that helps firms like Carlsberg and Deloitte manage freelancersPersonal finance is only a text away Yinon Ravid, the chief executive and cofounder of Albert. Albert The COVID-19 pandemic has underscored the growing preference of mobile banking as customers get comfortable managing their finances online.The financial app Albert has seen a similar jump in activity. Currently counting more than six million members, deposits in Albert's savings offering doubled from the start of the pandemic in March 2020 to May of this year, from $350 million to $700 million, according to new numbers released by the company. Founded in 2015, Albert offers automated budgeting and savings tools alongside guided investment portfolios. It's looked to differentiate itself through personalized features, like the ability for customers to text human financial experts.Budgeting and saving features are free on Albert. But for more tailored financial advice, customers pay a subscription fee that's a pay-what-you-can model, between $4 and $14 a month. And Albert's now banking on a new tool to bring together its investing, savings, and budgeting tools.Fintech Albert used this 10-page pitch deck to raise a $100 million Series C from General Atlantic and CapitalGRethinking debt collection Jason Saltzman, founder and CEO of Relief Relief For lenders, debt collection is largely automated. But for people who owe money on their credit cards, it can be a confusing and stressful process. Relief is looking to change that. Its app automates the credit-card debt collection process for users, negotiating with lenders and collectors to settle outstanding balances on their behalf. The fintech just launched and closed a $2 million seed round led by Collaborative Ventures. Relief's fundraising experience was a bit different to most. Its pitch deck, which it shared with one investor via Google Slides, went viral. It set out to raise a $1 million seed round, but ended up doubling that and giving some investors money back to make room for others.Check out a 15-page pitch deck that went viral and helped a credit-card debt collection startup land a $2 million seed roundBlockchain for private-markets investing Carlos Domingo is cofounder and CEO of Securitize. Securitize Securitize, founded in 2017 by the tech industry veterans Carlos Domingo and Jamie Finn, is bringing blockchain technology to private-markets investing. The company raised $48 million in Series B funding on June 21 from investors including Morgan Stanley and Blockchain Capital.Securitize helps companies crowdfund capital from individual and institutional investors by issuing their shares in the form of blockchain tokens that allow for more efficient settlement, record keeping, and compliance processes. Morgan Stanley's Tactical Value fund, which invests in private companies, made its first blockchain-technology investment when it coled the Series B, Securitize CEO Carlos Domingo told Insider.Here's the 11-page pitch deck a blockchain startup looking to revolutionize private-markets investing used to nab $48 million from investors like Morgan StanleyE-commerce focused business banking Michael Rangel, cofounder and CEO, and Tyler McIntyre, cofounder and CTO of Novo. Kristelle Boulos Photography Business banking is a hot market in fintech. And it seems investors can't get enough.Novo, the digital banking fintech aimed at small e-commerce businesses, raised a $40.7 million Series A led by Valar Ventures in June. Since its launch in 2018, Novo has signed up 100,000 small businesses. Beyond bank accounts, it offers expense management, a corporate card, and integrates with e-commerce infrastructure players like Shopify, Stripe, and Wise.Founded in 2018, Novo was based in New York City, but has since moved its headquarters to Miami. Here's the 12-page pitch deck e-commerce banking startup Novo used to raise its $40 million Series ABlockchain-based credit score tech John Sun, Anna Fridman, and Adam Jiwan are the cofounders of fintech startup Spring Labs. Spring Labs A blockchain-based fintech startup that is aiming to disrupt the traditional model of evaluating peoples' creditworthiness recently raised $30 million in a Series B funding led by credit reporting giant TransUnion.Four-year-old Spring Labs aims to create a private, secure data-sharing model to help credit agencies better predict the creditworthiness of people who are not in the traditional credit bureau system. The founding team of three fintech veterans met as early employees of lending startup Avant.Existing investors GreatPoint Ventures and August Capital also joined in on the most recent round. So far Spring Labs has raised $53 million from institutional rounds.TransUnion, a publicly-traded company with a $20 billion-plus market cap, is one of the three largest consumer credit agencies in the US. After 18 months of dialogue and six months of due diligence, TransAmerica and Spring Labs inked a deal, Spring Labs CEO and cofounder Adam Jiwan told Insider.Here's the 10-page pitch deck blockchain-based fintech Spring Labs used to snag $30 million from investors including credit reporting giant TransUnionDigital banking for freelancers JGalione/Getty Images Lance is a new digital bank hoping to simplify the life of those workers by offering what it calls an "active" approach to business banking. "We found that every time we sat down with the existing tools and resources of our accountants and QuickBooks and spreadsheets, we just ended up getting tangled up in the whole experience of it," Lance cofounder and CEO Oona Rokyta told Insider. Lance offers subaccounts for personal salaries, withholdings, and savings to which freelancers can automatically allocate funds according to custom preset levels. It also offers an expense balance that's connected to automated tax withholdings.In May, Lance announced the closing of a $2.8 million seed round that saw participation from Barclays, BDMI, Great Oaks Capital, Imagination Capital, Techstars, DFJ Frontier, and others.Here's the 21-page pitch deck Lance, a digital bank for freelancers, used to raise a $2.8 million seed round from investors including BarclaysDigital tools for independent financial advisors Jason Wenk, founder and CEO of Altruist Altruist Jason Wenk started his career at Morgan Stanley in investment research over 20 years ago. Now, he's running a company that is hoping to broaden access to financial advice for less-wealthy individuals. The startup raised $50 million in Series B funding led by Insight Partners with participation from investors Vanguard and Venrock. The round brings the Los Angeles-based startup's total funding to just under $67 million.Founded in 2018, Altruist is a digital brokerage built for independent financial advisors, intended to be an "all-in-one" platform that unites custodial functions, portfolio accounting, and a client-facing portal. It allows advisors to open accounts, invest, build models, report, trade (including fractional shares), and bill clients through an interface that can advisors time by eliminating mundane operational tasks.Altruist aims to make personalized financial advice less expensive, more efficient, and more inclusive through the platform, which is designed for registered investment advisors (RIAs), a growing segment of the wealth management industry. Here's the pitch deck for Altruist, a wealth tech challenging custodians Fidelity and Charles Schwab, that raised $50 million from Vanguard and InsightPayments and operations support HoneyBook cofounders Dror Shimoni, Oz Alon, and Naama Alon. HoneyBook While countless small businesses have been harmed by the pandemic, self-employment and entrepreneurship have found ways to blossom as Americans started new ventures.Half of the US population may be freelance by 2027, according to a study commissioned by remote-work hiring platform Upwork. HoneyBook, a fintech startup that provides payment and operations support for freelancers, in May raised $155 million in funding and achieved unicorn status with its $1 billion-plus valuation.Durable Capital Partners led the Series D funding with other new investors including renowned hedge fund Tiger Global, Battery Ventures, Zeev Ventures, and 01 Advisors. Citi Ventures, Citigroup's startup investment arm that also backs fintech robo-advisor Betterment, participated as an existing investor in the round alongside Norwest Venture partners. The latest round brings the company's fundraising total to $227 million to date.Here's the 21-page pitch deck a Citi-backed fintech for freelancers used to raise $155 million from investors like hedge fund Tiger GlobalFraud prevention for lenders and insurers Fiordaliso/Getty Images Onboarding new customers with ease is key for any financial institution or retailer. The more friction you add, the more likely consumers are to abandon the entire process.But preventing fraud is also a priority, and that's where Neuro-ID comes in. The startup analyzes what it calls "digital body language," or, the way users scroll, type, and tap. Using that data, Neuro-ID can identify fraudulent users before they create an account. It's built for banks, lenders, insurers, and e-commerce players."The train has left the station for digital transformation, but there's a massive opportunity to try to replicate all those communications that we used to have when we did business in-person, all those tells that we would get verbally and non-verbally on whether or not someone was trustworthy," Neuro-ID CEO Jack Alton told Insider.Founded in 2014, the startup's pitch is twofold: Neuro-ID can save companies money by identifying fraud early, and help increase user conversion by making the onboarding process more seamless. In December Neuro-ID closed a $7 million Series A, co-led by Fin VC and TTV Capital, with participation from Canapi Ventures. With 30 employees, Neuro-ID is using the fresh funding to grow its team and create additional tools to be more self-serving for customers.Here's the 11-slide pitch deck a startup that analyzes consumers' digital behavior to fight fraud used to raise a $7 million Series AAI-powered tools to spot phony online reviews Saoud Khalifah, founder and CEO of Fakespot. Fakespot Marketplaces like Amazon and eBay host millions of third-party sellers, and their algorithms will often boost items in search based on consumer sentiment, which is largely based on reviews. But many third-party sellers use fake reviews often bought from click farms to boost their items, some of which are counterfeit or misrepresented to consumers.That's where Fakespot comes in. With its Chrome extension, it warns users of sellers using potentially fake reviews to boost sales and can identify fraudulent sellers. Fakespot is currently compatible with Amazon, BestBuy, eBay, Sephora, Steam, and Walmart."There are promotional reviews written by humans and bot-generated reviews written by robots or review farms," Fakespot founder and CEO Saoud Khalifah told Insider. "Our AI system has been built to detect both categories with very high accuracy."Fakespot's AI learns via reviews data available on marketplace websites, and uses natural-language processing to identify if reviews are genuine. Fakespot also looks at things like whether the number of positive reviews are plausible given how long a seller has been active.Fakespot, a startup that helps shoppers detect robot-generated reviews and phony sellers on Amazon and Shopify, used this pitch deck to nab a $4 million Series ANew twists on digital banking Zach Bruhnke, cofounder and CEO of HMBradley HMBradley Consumers are getting used to the idea of branch-less banking, a trend that startup digital-only banks like Chime, N26, and Varo have benefited from. The majority of these fintechs target those who are underbanked, and rely on usage of their debit cards to make money off interchange. But fellow startup HMBradley has a different business model. "Our thesis going in was that we don't swipe our debit cards all that often, and we don't think the customer base that we're focusing on does either," Zach Bruhnke, cofounder and CEO of HMBradley, told Insider. "A lot of our customer base uses credit cards on a daily basis."Instead, the startup is aiming to build clientele with stable deposits. As a result, the bank is offering interest-rate tiers depending on how much a customer saves of their direct deposit.Notably, the rate tiers are dependent on the percentage of savings, not the net amount. "We'll pay you more when you save more of what comes in," Bruhnke said. "We didn't want to segment customers by how much money they had. So it was always going to be about a percentage of income. That was really important to us."Check out the 14-page pitch deck fintech HMBradley, a neobank offering interest rates as high as 3%, used to raise an $18.25 million Series ARead the original article on Business Insider.....»»

Category: topSource: businessinsiderNov 3rd, 2021

Tesla’s “Rounding Error” Of Sales Improvement

Stanphyl Capital’s commentary for the month ended October 31, 2021, discussing their short position in Tesla Inc (NASDAQ:TSLA). Q3 2021 hedge fund letters, conferences and more The Biggest Bubble In Modern Stock Market History We remain short the biggest bubble in modern stock market history, Tesla Inc. (TSLA), which now has a completely absurd diluted […] Stanphyl Capital’s commentary for the month ended October 31, 2021, discussing their short position in Tesla Inc (NASDAQ:TSLA). if (typeof jQuery == 'undefined') { document.write(''); } .first{clear:both;margin-left:0}.one-third{width:31.034482758621%;float:left;margin-left:3.448275862069%}.two-thirds{width:65.51724137931%;float:left}form.ebook-styles .af-element input{border:0;border-radius:0;padding:8px}form.ebook-styles .af-element{width:220px;float:left}form.ebook-styles .af-element.buttonContainer{width:115px;float:left;margin-left: 6px;}form.ebook-styles .af-element.buttonContainer input.submit{width:115px;padding:10px 6px 8px;text-transform:uppercase;border-radius:0;border:0;font-size:15px}form.ebook-styles .af-body.af-standards input.submit{width:115px}form.ebook-styles .af-element.privacyPolicy{width:100%;font-size:12px;margin:10px auto 0}form.ebook-styles .af-element.privacyPolicy p{font-size:11px;margin-bottom:0}form.ebook-styles .af-body input.text{height:40px;padding:2px 10px !important} form.ebook-styles .error, form.ebook-styles #error { color:#d00; } form.ebook-styles .formfields h1, form.ebook-styles .formfields #mg-logo, form.ebook-styles .formfields #mg-footer { display: none; } form.ebook-styles .formfields { font-size: 12px; } form.ebook-styles .formfields p { margin: 4px 0; } Get The Full Walter Schloss Series in PDF Get the entire 10-part series on Walter Schloss in PDF. Save it to your desktop, read it on your tablet, or email to your colleagues. (function($) {window.fnames = new Array(); window.ftypes = new Array();fnames[0]='EMAIL';ftypes[0]='email';}(jQuery));var $mcj = jQuery.noConflict(true); Q3 2021 hedge fund letters, conferences and more The Biggest Bubble In Modern Stock Market History We remain short the biggest bubble in modern stock market history, Tesla Inc. (TSLA), which now has a completely absurd diluted market cap of $1.25 trillion. Perhaps this ridiculousness is best shown graphically, courtesy of @MichalStupavsky and @AlbertBridgeCap; note that both these graphics were created hundreds of billions of dollars ago in Tesla market cap, and when viewing them please keep in mind that Tesla’s share of the world auto market is only around 1.1% (yes, one POINT one percent): And yet at some point when momentum-riding Tesla bulls (or, for that matter, bears) least expect it, TSLA will recouple with “reality,” and that’s why I continue to maintain a core short position. So here’s “reality”… Tesla has no “moat” of any kind; i.e., nothing meaningfully proprietary in terms of electric car technology, while existing automakers—unlike Tesla­—have a decades-long “experience moat” of knowing how to mass-produce, distribute and service high-quality cars consistently and profitably. Excluding sunsetting emission credit sales Tesla is barely profitable. Growth in sequential unit demand for Tesla’s cars is at a crawl relative to expectations. Elon Musk is a pathological liar who under the terms of his SEC settlement cannot deny having committed securities fraud. Tesla's Q3 Deliveries In October Tesla reported Q3 deliveries of 241,000 cars, 18,000 more than Wall Street’s “official” consensus and around 11,000 more than the 230,000-delivery “whisper number.” These (and even the entire 40,000-unit gain over Q2) are rounding errors for an auto company trading at even one-tenth of Tesla’s valuation. If in any quarter GM or VW or Toyota sold 2.04 million vehicles instead of 2 million or 1.96 million, no one would pay the slightest bit of attention to the difference. Seeing as Tesla is now being valued at nearly sixteen GMs, it’s time to start looking at its relatively tiny numerical sequential sales growth, rather than Wall Street’s sell-side hype of “percentage off a small base.” In other words, if you want to be valued at a giant multiple of “the big boys,” you should be treated as a big boy. In fact, a favorite hype story from Tesla fans has been “the China market” and its “record” number of 73,659 Q3 deliveries there. Let’s put this in perspective: this was only around 4000 more cars than in Q1 and only around 11,000 more than in Q2—these are “growth” rounding errors. And that “record” Q3 China quarter gave it just 1.5% of the overall passenger vehicle market and just 11% of the BEV market, and it had so much excess capacity that it exported tens of thousands of cars to Europe. And now in October, Tesla sales in China reportedly fell back to just 12,000 units. Remember when Musk claimed that Tesla’s Chinese domestic demand alone would need multiple factories to satisfy? Ah, the good old days! One likely way Tesla was able to post an upside surprise in Q3 deliveries was because competitors’ production (and thus inventories) were at the lowest level in decades due to the massive chip shortage, thereby eliminating a number of “Tesla alternatives.” Meanwhile, Tesla had record production because Musk (a notorious “corner-cutter”) was apparently willing to substitute untested, non-auto-grade chips for the more durable chips he couldn’t get; please see my Twitter post about this. Rounding Error As for the demand implications of the new U.S. EV tax credit (assuming it passes in its current form—which, by the way, benefits GM & Ford’s union-made cars with a $12,500 per-car credit vs. just $8000 for each Tesla), please see my Twitter thread as to why—relative to Tesla’s insane valuation and its fans’ expectations—it will likely result in just another “rounding error” of sales improvement. In its Q3 earnings report (released in October), Tesla claimed it made around $1.3 billion in free cash flow (defined as operating cash flow less capex). However, this number appears to be entirely due to working capital adjustments and not from the business itself. Let me explain: Tesla claimed operating cash flow of around $3.2 billion for the quarter, but this came with the benefit of accounts payable increasing by $702 million, receivables declining by $167 million and accrued liabilities up by $665 million while (detrimentally) prepaid expenses increased by $144 million. Adjusting for that massive net working capital benefit, operating cash flow was only a bit over $1.8 billion and with capex at $1.8 billion it means Tesla’s Q3 free cash flow was essentially zero; i.e., it’s a horrible business. Also in its Q3 report Tesla claimed it made around $1.45 billion in net income after excluding $279 million of pure-profit emission credit sales (excluded because they’ll almost entirely disappear some time next year when other automakers will have enough EVs of their own), and after adding back a $50 million Bitcoin write-down. However, that earnings number also includes what I estimate to be Tesla’s usual $300 million or so in unsustainably low warranty provisioning, and after adjusting for that and assuming no other fraudulent accounting, Tesla only earned around $1.06/share, which annualizes to $4.24. An auto industry PE multiple of 10x would thus make TSLA worth around $42/share (admittedly, more than the “$0” I once expected), while a “growth multiple” of 20x would value it at $84, which is almost a 93% discount to October’s closing price of $1114. And before you tell me that a 100% premium to the industry’s PE ratio isn’t enough, keep in mind that—as noted earlier—Tesla’s sequential unit growth is an auto industry rounding error. In fact, one could argue that Tesla’s multiple should carry a discount, considering the massive legal and financial liabilities continually generated by its pathologically lying CEO. Meanwhile Tesla continues to sell (and book cash flow, if not accounting revenue from) its fraudulent & dangerous so-called “Full Self Driving.” In a sane regulatory environment Tesla having done this for five years now would be considered “consumer fraud,” and indeed the regulatory tide may finally be turning, as in August two U.S. Senators demanded an FTC investigation and in October the NHTSA appointed a harsh critic of this deadly product to advise on its regulation. (For all known Tesla deaths see TeslaDeaths.com.) Are major write-downs and refunds on the way, killing the company’s slight “claimed profitability”? Stay tuned! And remember, the 2021 overview from Guidehouse Insights rates Tesla dead last among autonomous competitors: Proprietary Battery Technology Another favorite Tesla hype story has been built around so-called “proprietary battery technology.” In fact though, Tesla has nothing proprietary there—it doesn’t make them, it buys them from Panasonic, CATL and LG, and it’s the biggest liar in the industry regarding the real-world range of its cars. And if new-format 4680 cells enter the market some time in 2022 (as is now expected), their manufacturers will gladly sell them to anyone. Meanwhile, the quality of the Model Y—is awful, and that car faces current (or imminent) competition from the much better built electric Audi Q4 e-tron, BMW iX3, Mercedes EQA, Volvo XC40 Recharge, Volkswagen ID.4, Ford Mustang Mach E, Nissan Ariya, Hyundai Ioniq 5 and Kia EV6. And Tesla’s Model 3 now has terrific direct “sedan competition” from Volvo’s beautiful Polestar 2 and the premium version of Volkswagen’s ID.3 (in Europe), and later this year from the BMW i4, plus multiple local competitors in China. And in the high-end electric car segment worldwide the Audi e-tron and Porsche Taycan outsell the Models S & X (and the newly updated Tesla models with their dated exteriors and idiotic shifters & steering wheels won’t change this), while the spectacular new Mercedes EQS, Audi e-Tron GT and Lucid Air make the Tesla Model S look like a fast Yugo, while the extremely well reviewed new BMW iX does the same to the Model X. And oh, the joke of a “pickup truck” Tesla previewed in 2019 (and still hasn’t shown in production-ready form) won’t be much of “growth engine” either, as it will enter a dogfight of a market; in fact, in May Ford formally introduced its terrific new all-electric F-150 Lightning which now has over 150,000 reservations, Rivian’s pick-up has gotten fantastic early reviews, and in January at CES GM will introduce its electric Silverado. Meanwhile, Tesla quality ranks 30th among 33 brands in the latest J.D. Power dependability survey… …and second-to-last in the latest Consumer Reports reliability survey: …while the most recent What Car? survey shows similar results with Tesla finishing #29 out of 31, and now quality is slipping in China. Regarding safety, as noted earlier in this letter, Tesla continues to deceptively sell its hugely dangerous so-called “Autopilot” system, which Consumer Reports has completely eviscerated; God only knows how many more people this monstrosity unleashed on public roads will kill, despite the NTSB condemning it. Elsewhere in safety, in 2020 the Chinese government forced the recall of tens of thousands of Teslas for a dangerous suspension defect the company spent years trying to cover up, and now Tesla has been hit by a class-action lawsuit in the U.S. for the same defect. Tesla also knowingly sold cars that it knew were a fire hazard and did the same with solar systems, and after initially refusing to do so voluntarily, it was forced to recall a dangerously defective touchscreen. In other words, when it comes to the safety of customers and innocent bystanders, Tesla is truly one of the most vile companies on Earth. Meanwhile the massive number of lawsuits of all types against the company continues to escalate. So Here Is Tesla’s Competition In Cars (Note: These Links Are Regularly Updated)... Porsche Taycan Porsche Taycan Cross Turismo Porsche Macan Electric SUV Officially Coming in 2023 Volkswagen ID.3 Headlines VW's Electrified Future Volkswagen ID.4 Electric SUV Volkswagen ID 6 to arrive with 435-mile range in 2023 Volkswagen Aero B: new electric Passat equivalent spied VW’s Cupra brand counts on performance for Born EV Cupra, VW brand to get entry-level battery-powered cars Audi e-tron Audi e-tron Sportback Audi E-tron GT Audi Q4 e-tron Audi Q6 e-tron confirmed for 2022 launch Audi previews long-range A6 e-tron EV Audi TT set to morph into all-electric crossover Hyundai Ioniq 5 Hyundai Ioniq 6 spotted ahead of 2022 launch Hyundai Kona Electric Genesis reveals their first EV on the E-GMP platform, the electric GV60 crossover Genesis aims to go all-electric from 2025 Kia Niro Electric: 239-mile range & $39,000 before subsidies Kia EV6: Charging towards the future Kia EV4 on course to grow electric SUV range Jaguar’s All-Electric i-Pace Jaguar to become all-electric brand; Land Rover to Get 6 electric models Daimler will invest more than $47B in EVs and be all-electric ready by 2030 Mercedes EQS: the first electric vehicle in the luxury class Mercedes EQS SUV takes shape Mercedes-Benz unveils EQE electric sedan with impressive 400-mile range Mercedes EQE SUV to rival BMW iX and Tesla Model X Mercedes EQC electric SUV available now in Europe & China Mercedes-Benz Launches the EQV, its First Fully-Electric Passenger Van Mercedes-Benz EQB Makes Its European Debut, US Sales Confirmed Mercedes-Benz unveils EQA electric SUV with 265 miles of range and ~$46,000 price Ford Mustang Mach-E Available Now Ford F-150 Lightning electric pick-up available 2022 Ford set to launch ‘mini Mustang Mach-E’ electric SUV in 2023 Ford to offer EV versions of Explorer, Aviator, ‘rugged SUVs' Volvo Polestar 2 Volvo XC40 Recharge Volvo C40 electric sedan to challenge Tesla Model 3, VW ID3 Polestar 3 will be an electric SUV that shares its all-new platform with next Volvo XC90 Chevy updates, expands Bolt EV family as price drops Cadillac All-Electric Lyriq Available Spring 2022 GMC ALL-ELECTRIC SUPERTRUCK HUMMER EV GM to build electric Silverado in Detroit with estimated range of more than 400 miles GMC to launch electric Hummer SUV in 2023 GM will offer 30 all-electric models globally by 2025 GM Launches BrightDrop to Electrify the Delivery of Goods and Services Nissan vows to hop back on EV podium with Ariya Nissan LEAF e+ with 226-mile range is available now BMW leads off EV offensive with iX3 BMW expands EV offerings with iX tech flagship and i4 sedan 2022 BMW iX1 electric SUV spied BMW 3-series EV coming Rivian R1T Is the Most Remarkable Pickup We’ve Ever Driven Renault upgrades Zoe electric car as competition intensifies Renault Dacia Spring Electric SUV Renault to boost low-volume Alpine brand with 3 EVs Renault's electric Megane will debut new digital cockpit Stellantis promises 'heart-of-the-market SUV' from new, 8-vehicle EV platform Alfa Romeo is latest Stellantis brand to get all-electric future Peugeot e-208 PEUGEOT E-2008: THE ELECTRIC AND VERSATILE SUV Peugeot 308 will get full-electric version Citroen compact EV challenges VW ID3 on price Maserati to launch electric sports car Mini Cooper SE Electric Toyota's bZ4X EV gets 300-mile range, steer by wire; first of 7 BEVs by 2025 Opel sees electric Corsa as key EV entry 2021 Vauxhall Mokka revealed as EV with sharp looks, massive changes Skoda Enyaq iV electric SUV offers range of power, battery sizes Electric Skoda Enyaq coupe to muscle-in on Tesla Model 3 Skoda plans small EV, cheaper variants to take on French, Korean rivals Nio to launch in five more European countries after Norway BYD will launch electric SUV in Europe The Lucid Air Achieves an Estimated EPA Range of 517 Miles on a Single Charge Bentley converting to electric-only brand All-electric Rolls-Royce Spectre to launch in 2023 – firm to be EV-only by 2030 Aston Martin will build electric vehicles in UK from 2025 Meet the Canoo, a Subscription-Only EV Pod Coming in 2021 Two new electric cars from Mahindra in India; Global Tesla rival e-car soon Former Saab factory gets new life building solar-powered Sono Sion electric cars Foxconn aims for 10% of electric car platform market by 2025 And In China... How VW Group plans to dominate China's EV market VW Goes Head-to-Head With Tesla in China With New ID.4 Crozz Electric SUV Volkswagen’s ID.3 EV to be produced by JVs with SAIC, FAW in 2021 2022 VW ID.6 Revealed With Room For Seven And Two Electric Motors China-built Audi e-tron rolls off production line in Changchun Audi Q2L e-tron debuts at Auto Shanghai Audi will build Q4 e-tron in China Audi Q5 e-tron Confirmed For China Audi in cooperation company for local electric car production with FAW FAW Hongqi starts selling electric SUV with 400km range for $32,000 FAW (Hongqi) to roll out 15 electric models by 2025 BYD goes after market left open by Tesla with four cheaper models for budget-conscious buyers BYD said to launch premium NEV brand ‘Dolphin’ in 2022 Top of Form Bottom of Form Daimler & BYD launch DENZA electric vehicle for the Chinese market Geely announces premium EV brand Zeekr Geely, Mercedes-Benz launch $780 million JV to make electric smart-branded cars Mercedes styled Denza X 7-seat electric SUV to hit market Mercedes ‘makes mark’ with China-built EQC BMW, Great Wall to build new China plant for electric cars BAIC Goes Electric, & Establishes Itself as a Force in China’s New Energy Vehicle Future BAIC BJEV, Magna ready to pour RMB2 bln in all-electric PV manufacturing JV Toyota, BYD will jointly develop electric vehicles for China Lexus to launch EV in China taking on VW and Tesla GAC Aion about to start volume production of 1,000-km range AION LX GAC Toyota to ramp up annual capacity by 400,000 NEVs GAC kicks off delivery of HYCAN 007 all-electric SUV Nio – Ready For Tomorrow Nio steps up plans for mass-market brand to compete with VW, Toyota Xpeng Motors sells multiple EV models SAIC-GM to build Ultium EV platform in Wuhan Chevrolet Menlo Electric Vehicle Launched in China Buick Launches VELITE 6 PLUS MAV Electric Vehicle in China Buick Velite 7 EV And Velite 6 PHEV Launch In China Dongfeng launches the all-electric Voyah  PSA to accelerate rollout of electrified vehicles in China SAIC, Alibaba-backed EV brand IM begins presale of first model L7 Hyundai Motor Transforming Chongqing Factory into Electric Vehicle Plant Polestar said to plan China showroom expansion to compete with Tesla Jaguar Land Rover's Chinese arm invests £800m in EV production Renault reveals series urban e-SUV K-ZE for China Renault & Brilliance detail electric van lineup for China Renault forms China electric vehicle venture with JMCG Honda to start sales of new EV-branded vehicles in China in 2022 Geely launches new electric car brand 'Geometry' – will launch 10 EVs by 2025 Geely, Foxconn form partnership to build cars for other automakers Fiat Chrysler, Foxconn Team Up for Electric Vehicles Baidu to create an intelligent EV company with automaker Geely Leapmotor starts presale of C11 electric SUV on Jan. 1 2021 Changan forms subsidiary Avatar Technology to develop smart EVs with Huawei, CATL WM Motors/Weltmeister Chery Seres Enovate China's cute Ora R1 electric hatch offers a huge range for less than US$9,000 Singulato JAC Motors releases new product planning, including many NEVs Seat to make purely electric cars with JAC VW in China Iconiq Motors Hozon Aiways Skyworth Auto Youxia CHJ Automotive begins to accept orders of Leading Ideal ONE Infiniti to launch Chinese-built EV in 2022 Human Horizons Chinese smartphone giant Xiaomi to launch electric car business with $10 billion investment Lifan Technology to roll out three EV models with swappable batteries in 2021 Here’s Tesla’s Competition In Autonomous Driving... Waymo ranked top & Tesla last in Guidehouse leaderboard on automated driving systems Tesla has a self-driving strategy other companies abandoned years ago Fiat Chrysler, Waymo expand self-driving partnership for passenger, delivery vehicles Waymo and Lyft partner to scale self-driving robotaxi service in Phoenix Volvo, Waymo partner to build self-driving vehicles Jaguar and Waymo announce an electric, fully autonomous car Renault, Nissan partner with Waymo for self-driving vehicles Cruise and GM Team Up with Microsoft to Commercialize Self-Driving Vehicles Cadillac Super Cruise Sets the Standard for Hands-Free Highway Driving Honda Joins with Cruise and General Motors to Build New Autonomous Vehicle Honda launching Level 3 autonomous cars Volkswagen moves ahead with Autonomous Driving R&D for Mobility as a Service Volkswagen teams up with Microsoft to accelerate the development of automated driving VW taps Baidu's Apollo platform to develop self-driving cars in China Ford's electric Mustang will offer hands-free driving technology in 2021 ARGO AI AND FORD TO LAUNCH SELF-DRIVING VEHICLES ON LYFT NETWORK BY END OF 2021 Hyundai and Kia Invest in Aurora Toyota, Denso form robotaxi partnership with Aurora Aptiv and Hyundai Motor Group complete formation of autonomous driving joint venture Amazon’s Zoox unveils electric robotaxi that can travel up to 75 mph Nvidia and Mercedes Team Up to Make Next-Gen Vehicles Daimler's heavy trucks start self-driving some of the way SoftBank, Toyota's self-driving car venture adds Mazda, Suzuki, Subaru Corp, Isuzu Daihatsu  Continental & NVIDIA Partner to Enable Production of Artificial Intelligence Self-Driving Cars Mobileye and Geely to Offer Most Robust Driver Assistance Features Mobileye Starts Testing Self-Driving Vehicles in Germany Mobileye and NIO Partner to Bring Level 4 Autonomous Vehicles to Consumers Lucid Chooses Mobileye as Partner for Autonomous Vehicle Technology AutoX, backed by Alibaba Nissan gives Japan version of Infiniti Q50 hands-free highway driving Hyundai to start autonomous ride-sharing service in Calif. Pony.ai raises $462 million in Toyota-led funding Baidu kicks off trial operation of Apollo robotaxi in Changsha Toyota to join Baidu's open-source self-driving platform Baidu, WM Motor announce strategic partnership for L3, L4 autonomous driving solutions Volvo will provide cars for Didi's self-driving test fleet BMW and Tencent to develop self-driving car technology together BMW, NavInfo bolster partnership in HD map service for autonomous cars in China GM Invests $300 M in Momenta to deliver self-driving technologies in China FAW Hongqi readies electric SUV offering Level 4 autonomous driving Tencent, Changan Auto Announce Autonomous-Vehicle Joint Venture Huawei teams up with BAIC BJEV, Changan, GAC to co-launch self-driving car brands GAC Aion, DiDi Autonomous Driving to co-develop driverless NEV model BYD partners with Huawei for autonomous driving Lyft, Magna in Deal to Develop Hardware, Software for Self-Driving Cars Xpeng releases autonomous features for highway driving Nuro Becomes First Driverless Car Delivery Service in California Deutsche Post to Deploy Test Fleet Of Fully Autonomous Delivery Trucks ZF autonomous EV venture names first customer Magna’s new MAX4 self-driving platform offers autonomy up to Level 4 Groupe PSA’s safe and intuitive autonomous car tested by the general public Mitsubishi Electric to Exhibit Autonomous-driving Technologies in New xAUTO Test Vehicle Apple acquires self-driving startup Drive.ai Motional to begin robotaxi testing with Hyundai Ioniq 5 in Los Angeles JD.com Delivers on Self-Driving Electric Trucks NAVYA Unveils First Fully Autonomous Taxi Fujitsu and HERE to partner on advanced mobility services and autonomous driving Here’s Where Tesla’s Competition Will Get Its Battery Cells... Panasonic (making deals with multiple automakers) LG Samsung SK Innovation Toshiba CATL BYD Volkswagen to Build Six Electric-Vehicle Battery Factories in Europe How GM's Ultium Battery Will Help It Commit to an Electric Future Ultium (General Motors & LG joint venture) GM to develop lithium-metal batteries with SolidEnergy Systems Ford, SK Innovation announce EV battery joint venture BMW & Ford Invest in Solid Power to Secure All Solid-State Batteries for Future Electric Vehicles Stellantis, LG Energy Solution to form battery JV for N. American market Toyota to build U.S. battery plant Daimler joins Stellantis as partner in European battery cell venture ACC Renault signs EV battery deals with Envision, Verkor for French plants Nissan to build $1.4bn EV battery plant in UK with Chinese partner UK companies AMTE Power and Britishvolt plan $4.9 billion investment in battery plants Freyr Verkor Farasis Microvast Akasol Cenat Wanxiang Eve Energy Svolt Romeo Power ProLogium Hyundai Motor developing solid-state EV batteries Daimler Morrow Here’s Tesla’s Competition In Charging Networks... Electrify America is spending $2 billion building a high-speed U.S. charging network GM to distribute up to 10 chargers to each of its dealerships starting early 2022 GM, EVgo partner to expand U.S. charging network Circle K Owner Plans Electric-Car Charging Push in U.S., Canada 191 U.S. Porsche dealers are installing 350kw chargers ChargePoint to equip Daimler dealers with electric car chargers GM and Bechtel plan to build thousands of electric car charging stations across the US Ford introduces 12,000 station charging network, teams with Amazon on home installation Shell Plans To Deploy Around 500,000 Charging Points Globally By 2025 Petro-Canada Introduces Coast-to-Coast Canadian Charging Network Volta is rolling out a free charging network Ionity Europe E.ON and Virta launch one of the largest intelligent EV charging networks in Europe Volkswagen plans 36,000 charging points for electric cars throughout Europe Smatric has over 400 charging points in Austria Allego has hundreds of chargers in Europe PodPoint UK charging stations BP Chargemaster/Polar is building stations across the UK Instavolt is rolling out a UK charging network Fastned building 150kw-350kw chargers in Europe Aral To Install Over 100 Ultra-Fast Chargers In Germany Deutsche Telekom launches installation of charging network for e-cars Total to build 1,000 high-powered charging points at 300 European service-stations NIO teams up with China’s State Grid to build battery charging, swapping stations Volkswagen-based CAMS launches supercharging stations in China Volkswagen, FAW Group, JAC Motors, Star Charge formally announce new EV charging JV BMW to Build 360,000 Charging Points in China to Juice Electric Car Sales BP, Didi Jump on Electric-Vehicle Charging Bandwagon Evie rolls out ultrafast charging network in Australia Evie Networks To Install 42 Ultra-Fast Charging Sites In Australia And Here’s Tesla’s Competition In Storage Batteries... Panasonic Samsung LG BYD AES + Siemens (Fluence) GE Bosch Hitachi ABB Toshiba Saft Johnson Contols EnerSys SOLARWATT Schneider Electric Sonnen Kyocera Generac Kokam NantEnergy Eaton Nissan Tesvolt Kreisel Leclanche Lockheed Martin EOS Energy Storage ESS UET electrIQ Power Belectric Stem ENGIE Redflow Renault Primus Power Simpliphi Power redT Energy Storage Murata Bluestorage Adara Blue Planet Tabuchi Electric Aggreko Orison Moixa Powin Energy Nidec Powervault Kore Power Shanghai Electric Schmid 24M Ecoult Innolith LithiumWerks Natron Energy Energy Vault Ambri Voltstorage Cadenza Innovation Morrow Gridtential Villara Elestor   Thanks and stay healthy, Mark Spiegel Updated on Nov 1, 2021, 11:19 am (function() { var sc = document.createElement("script"); sc.type = "text/javascript"; sc.async = true;sc.src = "//mixi.media/data/js/95481.js"; sc.charset = "utf-8";var s = document.getElementsByTagName("script")[0]; s.parentNode.insertBefore(sc, s); }()); window._F20 = window._F20 || []; _F20.push({container: 'F20WidgetContainer', placement: '', count: 3}); _F20.push({finish: true});.....»»

Category: blogSource: valuewalkNov 1st, 2021

Check out 24 pitch decks that fintechs looking to disrupt trading, banking, and lending used to raise millions

Looking for examples of real fintech pitch decks? Check out pitch decks that Qolo, Lance, and other startups used to raise money from VCs. Check out these pitch decks for examples of fintech founders sold their vision. Yulia Reznikov/Getty Images Insider has been tracking the next wave of hot new startups that are blending finance and tech. Check out these pitch decks to see how fintech founders sold their vision. See more stories on Insider's business page. Fintech VC funding hit a fresh quarterly record of $22.8 billion in the first three months of 2021, according to CB Insights data. While mega-rounds helped propel overall funding, new cash was spread across 614 deals. Insider has been tracking the next wave of hot new startups that are blending finance and tech. Check out these pitch decks to see how fintech founders are selling their vision and nabbing big bucks in the process. You'll see new financial tech geared at freelancers, fresh twists on digital banking, and innovation aimed at streamlining customer onboarding. Checkout made easy Bolt's Ryan Breslow. Ryan Breslow Amazon has long dominated e-commerce with its one-click checkout flows, offering easier ways for consumers to shop online than its small-business competitors.Bolt gives small merchants tools to offer the same easy checkouts so they can compete with the likes of Amazon.The startup raised its $393 million Series D to continue adding its one-click checkout feature to merchants' own websites in October.Bolt markets to merchants themselves. But a big part of Bolt's pitch is its growing network of consumers - currently over 5.6 million - that use its features across multiple Bolt merchant customers. Roughly 5% of Bolt's transactions were network-driven in May, meaning users that signed up for a Bolt account on another retailer's website used it elsewhere. The network effects were even more pronounced in verticals like furniture, where 49% of transactions were driven by the Bolt network."The network effect is now unleashed with Bolt in full fury, and that triggered the raise," Bolt's founder and CEO Ryan Breslow told Insider.Here's the 12-page deck that one-click checkout Bolt used to outline its network of 5.6 million consumers and raise its Series DHelping small banks lend CollateralEdge's Joel Radtke, cofounder, COO, and president, and Joe Beard, cofounder and CEO. CollateralEdge For large corporations with a track record of tapping the credit markets, taking out debt is a well-structured and clear process handled by the nation's biggest investment banks and teams of accountants. But smaller, middle-market companies - typically those with annual revenues ranging up to $1 billion - are typically served by regional and community banks that don't always have the capacity to adequately measure the risk of loans or price them competitively. Per the National Center for the Middle Market, 200,000 companies fall into this range, accounting for roughly 33% of US private sector GDP and employment.Dallas-based fintech CollateralEdge works with these banks - typically those with between $1 billion and $50 billion in assets - to help analyze and price slices of commercial and industrial loans that previously might have gone unserved by smaller lenders.On October 20th, CollateralEdge announced a $3.5 million seed round led by Dallas venture fund Perot Jain with participation from Kneeland Youngblood (a founder of the healthcare-focused private-equity firm Pharos Capital) and other individual investors.Here's the 10-page deck CollateralEdge, a fintech streamlining how small banks lend to businesses, used to raise a $3.5 million seed round Quantum computing made easy QC Ware CEO Matt Johnson. QC Ware Even though banks and hedge funds are still several years out from adding quantum computing to their tech arsenals, that hasn't stopped Wall Street giants from investing time and money into the emerging technology class. And momentum for QC Ware, a startup looking to cut the time and resources it takes to use quantum computing, is accelerating. The fintech secured a $25 million Series B on September 29 co-led by Koch Disruptive Technologies and Covestro with participation from D.E. Shaw, Citi, and Samsung Ventures.QC Ware, founded in 2014, builds quantum algorithms for the likes of Goldman Sachs (which led the fintech's Series A), Airbus, and BMW Group. The algorithms, which are effectively code bases that include quantum processing elements, can run on any of the four main public-cloud providers.Quantum computing allows companies to do complex calculations faster than traditional computers by using a form of physics that runs on quantum bits as opposed to the traditional 1s and 0s that computers use. This is especially helpful in banking for risk analytics or algorithmic trading, where executing calculations milliseconds faster than the competition can give firms a leg up. Here's the 20-page deck QC Ware, a fintech making quantum computing more accessible, used to raised its $25 million Series BSimplifying quant models Kirat Singh and Mark Higgins, Beacon's cofounders. Beacon A fintech that helps financial institutions use quantitative models to streamline their businesses and improve risk management is catching the attention, and capital, of some of the country's biggest investment managers.Beacon Platform, founded in 2014, is a fintech that builds applications and tools to help banks, asset managers, and trading firms quickly integrate quantitative models that can help with analyzing risk, ensuring compliance, and improving operational efficiency. The company raised its Series C on Wednesday, scoring a $56 million investment led by Warburg Pincus with support from Blackstone Innovations Investments, PIMCO, and Global Atlantic. Blackstone, PIMCO, and Global Atlantic are also users of Beacon's tech, as are the Commonwealth Bank of Australia and Shell New Energies, a division of Royal Dutch Shell, among others.The fintech provides a shortcut for firms looking to use quantitative modelling and data science across various aspects of their businesses, a process that can often take considerable resources if done solo.Here's the 20-page pitch deck Beacon, a fintech helping Wall Street better analyze risk and data, used to raise $56 million from Warburg Pincus, Blackstone, and PIMCOInvoice financing for SMBs Stacey Abrams and Lara Hodgson, Now cofounders. Now About a decade ago, politician Stacey Abrams and entrepreneur Lara Hodgson were forced to fold their startup because of a kink in the supply chain - but not in the traditional sense.Nourish, which made spill-proof bottled water for children, had grown quickly from selling to small retailers to national ones. And while that may sound like a feather in the small business' cap, there was a hang-up."It was taking longer and longer to get paid, and as you can imagine, you deliver the product and then you wait and you wait, but meanwhile you have to pay your employees and you have to pay your vendors," Hodgson told Insider. "Waiting to get paid was constraining our ability to grow."While it's not unusual for small businesses to grapple with working capital issues, the dust was still settling from the Great Recession. Abrams and Hodgson couldn't secure a line of credit or use financing tools like factoring to solve their problem. The two entrepreneurs were forced to close Nourish in 2012, but along the way they recognized a disconnect in the system. "Why are we the ones borrowing money, when in fact we're the lender here because every time you send an invoice to a customer, you've essentially extended a free loan to that customer by letting them pay later," Hodgson said. "And the only reason why we were going to need to possibly borrow money was because we had just given ours away for free to Whole Foods," she added.Check out the 7-page deck that Now, Stacey Abrams' fintech that wants to help small businesses 'grow fearlessly', used to raise $29 millionInsurance goes digital Jamie Hale, CEO and cofounder of Ladder. Ladder Fintechs looking to transform how insurance policies are underwritten, issued, and experienced by customers have grown as new technology driven by digital trends and artificial intelligence shape the market. And while verticals like auto, homeowner's, and renter's insurance have seen their fair share of innovation from forward-thinking fintechs, one company has taken on the massive life-insurance market. Founded in 2017, Ladder uses a tech-driven approach to offer life insurance with a digital, end-to-end service that it says is more flexible, faster, and cost-effective than incumbent players.Life, annuity, and accident and health insurance within the US comprise a big chunk of the broader market. In 2020, premiums written on those policies totaled some $767 billion, compared to $144 billion for auto policies and $97 billion for homeowner's insurance.Here's the 12-page deck that Ladder, a startup disrupting the 'crown jewel' of the insurance market, used to nab $100 millionEmbedded payments for SMBs The Highnote team. Highnote Branded cards have long been a way for merchants with the appropriate bank relationships to create additional revenue and build customer loyalty. The rise of embedded payments, or the ability to shop and pay in a seamless experience within a single app, has broadened the number of companies looking to launch branded cards.Highnote is a startup that helps small to mid-sized merchants roll out their own debit and pre-paid digital cards. The fintech emerged from stealth on Tuesday to announce it raised $54 million in seed and Series A funding.Here's the 12-page deck Highnote, a startup helping SMBs embed payments, used to raise $54 million in seed and Series A fundingAn alternative auto lender Daniel Chu, CEO and founder of Tricolor. Tricolor An alternative auto lender that caters to thin- and no-credit Hispanic borrowers is planning a national expansion after scoring a $90 million investment from BlackRock-managed funds. Tricolor is a Dallas-based auto lender that is a community development financial institution. It uses a proprietary artificial-intelligence engine that decisions each customer based on more than 100 data points, such as proof of income. Half of Tricolor's customers have a FICO score, and less than 12% have scores above 650, yet the average customer has lived in the US for 15 years, according to the deck.A 2017 survey by the Federal Deposit Insurance Corporation found 31.5% of Hispanic households had no mainstream credit compared to 14.4% of white households. "For decades, the deck has been stacked against low income or credit invisible Hispanics in the United States when it comes to the purchase and financing of a used vehicle," Daniel Chu, founder and CEO of Tricolor, said in a statement announcing the raise.An auto lender that caters to underbanked Hispanics used this 25-page deck to raise $90 million from BlackRock investorsA new way to access credit The TomoCredit team. TomoCredit Kristy Kim knows first-hand the challenge of obtaining credit in the US without an established credit history. Kim, who came to the US from South Korea, couldn't initially get access to credit despite having a job in investment banking after graduating college. "I was in my early twenties, I had a good income, my job was in investment banking but I could not get approved for anything," Kim told Insider. "Many young professionals like me, we deserve an opportunity to be considered but just because we didn't have a Fico, we weren't given a chance to even apply," she added.Kim started TomoCredit in 2018 to help others like herself gain access to consumer credit. TomoCredit spent three years building an internal algorithm to underwrite customers based on cash flow, rather than a credit score.TomoCredit, a fintech that lends to thin- and no-credit borrowers, used this 17-page pitch deck to raise its $10 million Series AAn IRA for alternatives Henry Yoshida is the co-founder and CEO of retirement fintech startup Rocket Dollar. Rocket Dollar Fintech startup Rocket Dollar, which helps users invest their individual retirement account (IRA) dollars into alternative assets, just raised $8 million for its Series A round, the company announced on Thursday.Park West Asset Management led the round, with participation from investors including Hyphen Capital, which focuses on backing Asian American entrepreneurs, and crypto exchange Kraken's venture arm. Co-founded in 2018 by CEO Henry Yoshida, CTO Rick Dude, and VP of marketing Thomas Young, Rocket Dollar now has over $350 million in assets under management on its platform. Yoshida sold his first startup, a roboadvisor called Honest Dollar, to Goldman Sachs' investment management division for an estimated $20 million.Yoshida told Insider that while ultra-high net worth investors have been investing self-directed retirement account dollars into alternative assets like real estate, private equity, and cryptocurrency, average investors have not historically been able to access the same opportunities to invest IRA dollars in alternative assets through traditional platforms.Here's the 34-page pitch deck a fintech that helps users invest their retirement savings in crypto and real estate assets used to nab $8 millionConnecting startups and investors Hum Capital cofounder and CEO Blair Silverberg. Hum Capital Blair Silverberg is no stranger to fundraising.For six years, Silverberg was a venture capitalist at Draper Fisher Jurvetson and Private Credit Investments making bets on startups."I was meeting with thousands of founders in person each year, watching them one at a time go through this friction where they're meeting a ton of investors, and the investors are all asking the same questions," Silverberg told Insider. He switched gears about three years ago, moving to the opposite side of the metaphorical table, to start Hum Capital, which uses artificial intelligence to match investors with startups looking to fundraise.On August 31, the New York-based fintech announced its $9 million Series A. The round was led by Future Ventures with participation from Webb Investment Network, Wavemaker Partners, and Partech. This 11-page pitch deck helped Hum Capital, a fintech using AI to match investors with startups, raise a $9 million Series A.Payments infrastructure for fintechs Qolo CEO and co-founder Patricia Montesi. Qolo Three years ago, Patricia Montesi realized there was a disconnect in the payments world. "A lot of new economy companies or fintech companies were looking to mesh up a lot of payment modalities that they weren't able to," Montesi, CEO and co-founder of Qolo, told Insider.Integrating various payment capabilities often meant tapping several different providers that had specializations in one product or service, she added, like debit card issuance or cross-border payments. "The way people were getting around that was that they were creating this spider web of fintech," she said, adding that "at the end of it all, they had this mess of suppliers and integrations and bank accounts."The 20-year payments veteran rounded up a group of three other co-founders - who together had more than a century of combined industry experience - to start Qolo, a business-to-business fintech that sought out to bundle back-end payment rails for other fintechs.Here's the 11-slide pitch deck a startup that provides payments infrastructure for other fintechs used to raise a $15 million Series ASoftware for managing freelancers Worksome cofounder and CEO Morten Petersen. Worksome The way people work has fundamentally changed over the past year, with more flexibility and many workers opting to freelance to maintain their work-from-home lifestyles.But managing a freelance or contractor workforce is often an administrative headache for employers. Worksome is a startup looking to eliminate all the extra work required for employers to adapt to more flexible working norms.Worksome started as a freelancer marketplace automating the process of matching qualified workers with the right jobs. But the team ultimately pivoted to a full suite of workforce management software, automating administrative burdens required to hire, pay, and account for contract workers.In May, Worksome closed a $13 million Series A backed by European angel investor Tommy Ahlers and Danish firm Lind & Risør.Here's the 21-slide pitch deck used by a startup that helps firms like Carlsberg and Deloitte manage freelancersPersonal finance is only a text away Yinon Ravid, the chief executive and cofounder of Albert. Albert The COVID-19 pandemic has underscored the growing preference of mobile banking as customers get comfortable managing their finances online.The financial app Albert has seen a similar jump in activity. Currently counting more than six million members, deposits in Albert's savings offering doubled from the start of the pandemic in March 2020 to May of this year, from $350 million to $700 million, according to new numbers released by the company. Founded in 2015, Albert offers automated budgeting and savings tools alongside guided investment portfolios. It's looked to differentiate itself through personalized features, like the ability for customers to text human financial experts.Budgeting and saving features are free on Albert. But for more tailored financial advice, customers pay a subscription fee that's a pay-what-you-can model, between $4 and $14 a month. And Albert's now banking on a new tool to bring together its investing, savings, and budgeting tools.Fintech Albert used this 10-page pitch deck to raise a $100 million Series C from General Atlantic and CapitalGRethinking debt collection Jason Saltzman, founder and CEO of Relief Relief For lenders, debt collection is largely automated. But for people who owe money on their credit cards, it can be a confusing and stressful process. Relief is looking to change that. Its app automates the credit-card debt collection process for users, negotiating with lenders and collectors to settle outstanding balances on their behalf. The fintech just launched and closed a $2 million seed round led by Collaborative Ventures. Relief's fundraising experience was a bit different to most. Its pitch deck, which it shared with one investor via Google Slides, went viral. It set out to raise a $1 million seed round, but ended up doubling that and giving some investors money back to make room for others.Check out a 15-page pitch deck that went viral and helped a credit-card debt collection startup land a $2 million seed roundBlockchain for private-markets investing Carlos Domingo is cofounder and CEO of Securitize. Securitize Securitize, founded in 2017 by the tech industry veterans Carlos Domingo and Jamie Finn, is bringing blockchain technology to private-markets investing. The company raised $48 million in Series B funding on June 21 from investors including Morgan Stanley and Blockchain Capital.Securitize helps companies crowdfund capital from individual and institutional investors by issuing their shares in the form of blockchain tokens that allow for more efficient settlement, record keeping, and compliance processes. Morgan Stanley's Tactical Value fund, which invests in private companies, made its first blockchain-technology investment when it coled the Series B, Securitize CEO Carlos Domingo told Insider.Here's the 11-page pitch deck a blockchain startup looking to revolutionize private-markets investing used to nab $48 million from investors like Morgan StanleyE-commerce focused business banking Michael Rangel, cofounder and CEO, and Tyler McIntyre, cofounder and CTO of Novo. Kristelle Boulos Photography Business banking is a hot market in fintech. And it seems investors can't get enough.Novo, the digital banking fintech aimed at small e-commerce businesses, raised a $40.7 million Series A led by Valar Ventures in June. Since its launch in 2018, Novo has signed up 100,000 small businesses. Beyond bank accounts, it offers expense management, a corporate card, and integrates with e-commerce infrastructure players like Shopify, Stripe, and Wise.Founded in 2018, Novo was based in New York City, but has since moved its headquarters to Miami. Here's the 12-page pitch deck e-commerce banking startup Novo used to raise its $40 million Series ABlockchain-based credit score tech John Sun, Anna Fridman, and Adam Jiwan are the cofounders of fintech startup Spring Labs. Spring Labs A blockchain-based fintech startup that is aiming to disrupt the traditional model of evaluating peoples' creditworthiness recently raised $30 million in a Series B funding led by credit reporting giant TransUnion.Four-year-old Spring Labs aims to create a private, secure data-sharing model to help credit agencies better predict the creditworthiness of people who are not in the traditional credit bureau system. The founding team of three fintech veterans met as early employees of lending startup Avant.Existing investors GreatPoint Ventures and August Capital also joined in on the most recent round. So far Spring Labs has raised $53 million from institutional rounds.TransUnion, a publicly-traded company with a $20 billion-plus market cap, is one of the three largest consumer credit agencies in the US. After 18 months of dialogue and six months of due diligence, TransAmerica and Spring Labs inked a deal, Spring Labs CEO and cofounder Adam Jiwan told Insider.Here's the 10-page pitch deck blockchain-based fintech Spring Labs used to snag $30 million from investors including credit reporting giant TransUnionDigital banking for freelancers JGalione/Getty Images Lance is a new digital bank hoping to simplify the life of those workers by offering what it calls an "active" approach to business banking. "We found that every time we sat down with the existing tools and resources of our accountants and QuickBooks and spreadsheets, we just ended up getting tangled up in the whole experience of it," Lance cofounder and CEO Oona Rokyta told Insider. Lance offers subaccounts for personal salaries, withholdings, and savings to which freelancers can automatically allocate funds according to custom preset levels. It also offers an expense balance that's connected to automated tax withholdings.In May, Lance announced the closing of a $2.8 million seed round that saw participation from Barclays, BDMI, Great Oaks Capital, Imagination Capital, Techstars, DFJ Frontier, and others.Here's the 21-page pitch deck Lance, a digital bank for freelancers, used to raise a $2.8 million seed round from investors including BarclaysDigital tools for independent financial advisors Jason Wenk, founder and CEO of Altruist Altruist Jason Wenk started his career at Morgan Stanley in investment research over 20 years ago. Now, he's running a company that is hoping to broaden access to financial advice for less-wealthy individuals. The startup raised $50 million in Series B funding led by Insight Partners with participation from investors Vanguard and Venrock. The round brings the Los Angeles-based startup's total funding to just under $67 million.Founded in 2018, Altruist is a digital brokerage built for independent financial advisors, intended to be an "all-in-one" platform that unites custodial functions, portfolio accounting, and a client-facing portal. It allows advisors to open accounts, invest, build models, report, trade (including fractional shares), and bill clients through an interface that can advisors time by eliminating mundane operational tasks.Altruist aims to make personalized financial advice less expensive, more efficient, and more inclusive through the platform, which is designed for registered investment advisors (RIAs), a growing segment of the wealth management industry. Here's the pitch deck for Altruist, a wealth tech challenging custodians Fidelity and Charles Schwab, that raised $50 million from Vanguard and InsightPayments and operations support HoneyBook cofounders Dror Shimoni, Oz Alon, and Naama Alon. HoneyBook While countless small businesses have been harmed by the pandemic, self-employment and entrepreneurship have found ways to blossom as Americans started new ventures.Half of the US population may be freelance by 2027, according to a study commissioned by remote-work hiring platform Upwork. HoneyBook, a fintech startup that provides payment and operations support for freelancers, in May raised $155 million in funding and achieved unicorn status with its $1 billion-plus valuation.Durable Capital Partners led the Series D funding with other new investors including renowned hedge fund Tiger Global, Battery Ventures, Zeev Ventures, and 01 Advisors. Citi Ventures, Citigroup's startup investment arm that also backs fintech robo-advisor Betterment, participated as an existing investor in the round alongside Norwest Venture partners. The latest round brings the company's fundraising total to $227 million to date.Here's the 21-page pitch deck a Citi-backed fintech for freelancers used to raise $155 million from investors like hedge fund Tiger GlobalFraud prevention for lenders and insurers Fiordaliso/Getty Images Onboarding new customers with ease is key for any financial institution or retailer. The more friction you add, the more likely consumers are to abandon the entire process.But preventing fraud is also a priority, and that's where Neuro-ID comes in. The startup analyzes what it calls "digital body language," or, the way users scroll, type, and tap. Using that data, Neuro-ID can identify fraudulent users before they create an account. It's built for banks, lenders, insurers, and e-commerce players."The train has left the station for digital transformation, but there's a massive opportunity to try to replicate all those communications that we used to have when we did business in-person, all those tells that we would get verbally and non-verbally on whether or not someone was trustworthy," Neuro-ID CEO Jack Alton told Insider.Founded in 2014, the startup's pitch is twofold: Neuro-ID can save companies money by identifying fraud early, and help increase user conversion by making the onboarding process more seamless. In December Neuro-ID closed a $7 million Series A, co-led by Fin VC and TTV Capital, with participation from Canapi Ventures. With 30 employees, Neuro-ID is using the fresh funding to grow its team and create additional tools to be more self-serving for customers.Here's the 11-slide pitch deck a startup that analyzes consumers' digital behavior to fight fraud used to raise a $7 million Series AAI-powered tools to spot phony online reviews Saoud Khalifah, founder and CEO of Fakespot. Fakespot Marketplaces like Amazon and eBay host millions of third-party sellers, and their algorithms will often boost items in search based on consumer sentiment, which is largely based on reviews. But many third-party sellers use fake reviews often bought from click farms to boost their items, some of which are counterfeit or misrepresented to consumers.That's where Fakespot comes in. With its Chrome extension, it warns users of sellers using potentially fake reviews to boost sales and can identify fraudulent sellers. Fakespot is currently compatible with Amazon, BestBuy, eBay, Sephora, Steam, and Walmart."There are promotional reviews written by humans and bot-generated reviews written by robots or review farms," Fakespot founder and CEO Saoud Khalifah told Insider. "Our AI system has been built to detect both categories with very high accuracy."Fakespot's AI learns via reviews data available on marketplace websites, and uses natural-language processing to identify if reviews are genuine. Fakespot also looks at things like whether the number of positive reviews are plausible given how long a seller has been active.Fakespot, a startup that helps shoppers detect robot-generated reviews and phony sellers on Amazon and Shopify, used this pitch deck to nab a $4 million Series ANew twists on digital banking Zach Bruhnke, cofounder and CEO of HMBradley HMBradley Consumers are getting used to the idea of branch-less banking, a trend that startup digital-only banks like Chime, N26, and Varo have benefited from. The majority of these fintechs target those who are underbanked, and rely on usage of their debit cards to make money off interchange. But fellow startup HMBradley has a different business model. "Our thesis going in was that we don't swipe our debit cards all that often, and we don't think the customer base that we're focusing on does either," Zach Bruhnke, cofounder and CEO of HMBradley, told Insider. "A lot of our customer base uses credit cards on a daily basis."Instead, the startup is aiming to build clientele with stable deposits. As a result, the bank is offering interest-rate tiers depending on how much a customer saves of their direct deposit.Notably, the rate tiers are dependent on the percentage of savings, not the net amount. "We'll pay you more when you save more of what comes in," Bruhnke said. "We didn't want to segment customers by how much money they had. So it was always going to be about a percentage of income. That was really important to us."Check out the 14-page pitch deck fintech HMBradley, a neobank offering interest rates as high as 3%, used to raise an $18.25 million Series ARead the original article on Business Insider.....»»

Category: smallbizSource: nytNov 1st, 2021