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Marwest Apartment REIT Announces Q3 Results

/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/ WINNIPEG, MB, Nov. 24, 2021 /CNW/ - Marwest Apartment Real Estate Investment Trust ("Marwest Apartment REIT" or the "REIT") (TSXV:MAR) reported financial results for the third quarter ended September 30, 2021. The Condensed Consolidated Interim Financial Statements and Management's Discussion and Analysis ("MD&A") for Q3 2021 and the nine months ended September 30, 2021 are available on the REIT's website at www.marwestreit.com and at www.sedar.com. Q3 2021 Highlights Adjusted funds from operations ("AFFO") of $0.04 per unit for the nine months ended September 30, 2021 Generated net property operating income ("NOI") of $1,206,553 since the acquisition of 251 units (the "Qualifying Transaction") on April 30, 2021 NOI margin of 62.44% for the nine months ended September 30, 2021 Occupancy rate of 98.77% since the Qualifying Transaction Average monthly rent per suite to September 30, 2021 of $1,512 Mr. William Martens, Chief Executive Officer and Trustee commented "We are very pleased to have completed our first full quarter of operations with our initial portfolio.  Since Q3 we have completed the purchase of an additional 112 rental units with the closing of the Element acquisition on November 15, 2021." Operations Summary Portfolio Operational Information As at September 30, 2021 Number of properties 2 Number of suites 251 Average Occupancy Rate to date 98.77% Average rental rate to date $1,512 Financial Summary Period ended September 30, 2021 Property revenue $ 1,932,200 Net property operating income 1,206,553 Net income 4,855,259 FFO.....»»

Category: earningsSource: benzingaNov 24th, 2021

MINERVA FOODS POSTS RECORD CONSOLIDATED GROSS REVENUE AND EBITDA IN THE FIRST QUARTER OF 2022

Gross revenue totaled R$7.6 billion in the period, up 25% over 1Q21. EBITDA came to R$646 million, a first-quarter all-time high for the Company. SÃO PAULO, May 11, 2022  /PRNewswire/ -- Minerva Foods (Minerva S.A. – B3: BEEF3 | OTC – Nasdaq International: MRVSY), the South American leader in the export of fresh beef and cattle byproducts, which also operates in the processed foods segment, announces to the market the financial results for the first quarter of 2022 (1Q22). The Company's consolidated gross revenue totaled R$7.6 billion in 1Q22, up by 25% over 1Q21. In the 12 months ended March 2022 (LTM1Q22), consolidated gross revenue reached R$30.1 billion, a 35% ...Full story available on Benzinga.com.....»»

Category: earningsSource: benzingaMay 11th, 2022

Southwest Gas (SWX) Q1 Earnings Miss, Revenues Beat Estimates

Southwest Gas' (SWX) first-quarter earnings miss estimates. Southwest Gas announces its five-year capital expenditure plan. Southwest Gas Holding Inc. SWX recorded first-quarter 2022 operating earnings per share (EPS) of $1.74, which missed the Zacks Consensus Estimate of $2.02 by 13.9%. The bottom line also decreased by 14.3% from the year-ago quarter’s tally of $2.03 per share.Total RevenuesOperating revenues of $1,267.4 million surpassed the Zacks Consensus Estimate of $1,055 million by 20%. The top line improved 43.1% from $885.9 million in the prior-year quarter.Southwest Gas Corporation Price, Consensus and EPS Surprise Southwest Gas Corporation price-consensus-eps-surprise-chart | Southwest Gas Corporation QuoteHighlights of the ReleaseTotal operating expenses in the first quarter amounted to $1,098.9 million, up 54.2% from the year-ago figure of $712.5 million, due to an increase in the net cost of gas sold, utility infrastructure services expenses and higher operations and maintenance expenses.The operating income was $168.5 million, down 2.9% year over year.Financial HighlightsCash and cash equivalents as of Mar 31, 2022 were $624.7 million compared with $222.7 million as of Dec 31, 2021.The long-term debt, less current maturities, amounted to $4,559.7 million as of Mar 31, 2022 compared with $4,115.7 million as of Dec 31, 2021.Southwest Gas’ net cash provided by operating activities for the first three months of 2022 was $186.6 million compared with cash used in operating activities of $52.5 million in the year-ago period.GuidanceSWX reaffirmed plans to invest the $650-$700 million range in the ongoing year in the Natural Gas Distribution segment. The segment expects a utility rate base CAGR of 5% to 7% for the 2022-2026 period.Southwest Gas expects the five-year capital expenditure in the range of $2.5-$3.5 billion.The Utility Infrastructure Services segment reaffirmed its 2022 revenue expectation in the range of $2.65-$2.8 billion.Zacks RankSouthwest Gas carries a Zacks Rank #2 (Buy) currently. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.Upcoming ReleasesAlgonquin Power & Utilities AQN is set to release first-quarter 2022 results on May 12 after market close. The Zacks Consensus Estimate for EPS is pegged at 22 cents.Algonquin Power & Utilities’ long-term (three to five years) earnings growth is projected at 8.1%. The Zacks Consensus Estimate for AQN’s 2022 EPS indicates year-over-year growth of 4.2%.Pampa Energia S.A PAM is set to release first-quarter 2022 results on May 12 after market close. The Zacks Consensus Estimate for EPS is pegged at $1.23.Pampa Energia’s long-term earnings growth is projected at 33%. The Zacks Consensus Estimate for PAM’s 2023 EPS indicates year-over-year growth of 44.9%.Consolidated Water CWCO is set to release first-quarter 2022 results on May 13 before market open. The Zacks Consensus Estimate for EPS is pegged at 9 cents.Consolidated Water’s long-term earnings growth is projected at 8%. The Zacks Consensus Estimate for CWCO’s 2022 EPS indicates year-over-year growth of 130.4%. Special Report: The Top 5 IPOs for Your Portfolio Today, you have a chance to get in on the ground floor of one of the best investment opportunities of the year. As the world continues to benefit from an ever-evolving internet, a handful of innovative tech companies are on the brink of reaping immense rewards - and you can put yourself in a position to cash in. One is set to disrupt the online communication industry. Brilliantly designed for creating online communities, this stock is poised to explode when made public. With the strength of our economy and record amounts of cash flooding into IPOs, you don’t want to miss this opportunity.>>See Zacks’ Hottest IPOs NowWant 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 Pampa Energia S.A. (PAM): Free Stock Analysis Report Southwest Gas Corporation (SWX): Free Stock Analysis Report Consolidated Water Co. Ltd. (CWCO): Free Stock Analysis Report Algonquin Power & Utilities Corp. (AQN): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research.....»»

Category: topSource: zacksMay 11th, 2022

Futures, Bonds Rise Ahead Of Critical CPI Print As Chinese Covid Fears Fade

Futures, Bonds Rise Ahead Of Critical CPI Print As Chinese Covid Fears Fade US index futures and European stocks were set to extend their recovery from the longest streak of weekly declines since 2011 ahead of an inflation report that was expected to show prices cooled in April, while falling bond yields supported battered tech stocks; Asian equities also advanced, halting a seven-day slide, as new Covid cases tumbled in Shanghai with the local government saying there was basically no COVID community spread in 8 of 16 districts, and the Chinese covid scare appears set to fade. S&P 500 futures were trading at session highs, up 1.2%, and Nasdaq 100 futures were up 1.4%, while Europe’s Stoxx 600 climbed for a second day. The dollar fell and Treasury yields slumped, with the 10Y trading a 2.91%, a 30 basis points slide in the past three days, providing further support for high duration tech names. US-listed Chinese stocks rallied in New York premarket trading after the Asian nation reported easing Covid cases. Tech stocks also climbed in Hong Kong and Europe on Wednesday. In less than an hour, investors will be analyzing the latest US consumer price index reading, due out at 830am ET,  which is expected to show price gains moderated in April, for clues on the Federal Reserve’s pace of monetary tightening (full preview here). “A soft inflation read will come as a relief that the Fed doesn’t need to get much more aggressive to bring inflation back towards its 2% policy target,” said Swissquote Bank's Ipek Ozkardeskaya. “If however, inflation hasn’t pulled lower as expected -- and worse, if we see a higher figure than last month print -- we would see another big wave of selloff.” The “bar is low” for a surprise from the US data amid ebbing consumer sentiment, according to Brent Schutte, chief investment strategist at Northwestern Mutual Life Insurance Co. “Things are going to be just a bit better at the margin,” he said. “The Fed overall is going to tighten less. That will lead to a market that begins to find its feet and move higher in coming quarters as inflation does come off the boil.” Technology shares have been leading the selloff as higher interest rates mean a bigger discount for the present value of future profits, hurting frothy growth stocks that have been among the past years’ best performers. Even though the Nasdaq 100 rose yesterday, it was trading near its November 2020 low and is down 24% this year.  In premarket trading, Coinbase shares plunged as much as 18% after posting revenue for the first quarter that fell short of estimates. Occidental Petroleum shares were up after adjusted earnings per share for the first quarter beat the average analyst estimate. US-listed Chinese stocks gained as declining Covid cases in Shanghai lifted hopes for a ease in lockdown measures, boosting risk appetite. Embark Technology shares jumped 31% in US premarket trading, after the self-driving truckmaker reported a smaller net loss per share for the first quarter, with KeyBanc saying the firm is seeing “steady progress.” Here are the biggest premarket movers today: Occidental (OXY US) shares rise 1.7% in US premarket after adjusted earnings per share for the 1Q beat the average analyst estimate. The company demonstrated its ability to deleverage its balance sheet, analysts said Chinese stocks rose in premarket trading as declining Covid cases in Shanghai lift hopes for an ease in lockdown measures, boosting risk appetite. Alibaba (BABA US) was up 2.7%, JD.com (JD US) +2.5%, Pinduoduo (PDD US) +2.9% and Baidu (BIDU US) +3.6%. Embark Technology (EMBK US) shares jump as much as 31% in premarket, after the company reported a smaller net loss per share for the 1Q, with KeyBanc saying the firm is seeing “steady progress” Exicure (XCUR US) shares rise 48% in US premarket after the early-stage biotechnology company announced a $5m sale of common stock in a private placement at a premium to the last close Peloton (PTON US) shares up 3.3% premarket after closing at its lowest level since going public in September 2019. Analysts slash price targets as they expect the turnaround process to take time, but they maintained their recommendations on the stock Unity Software (U US) shares slump as much as 30% in U.S. premarket trading, after the 3D game-development company reported its 1Q results and gave a 2Q revenue forecast that was weaker than expected View (VIEW US) shares tumble 54% in premarket trading after the company delayed its 10-Q filing and said it expects to disclose substantial doubt about its ability to continue as a going concern Coinbase (COIN US) shares plunged as much as 18% in premarket after posting worse-than-expected revenue for the 1Q, with analysts pointing to drops in crypto prices impacting the firm’s earnings and outlook Roblox (RBLX US) shares were down 1.6% in premarket as its user growth in North America was slightly negative for the second straight quarter, KeyBanc analyst Tyler Parker says, adding that he continues to see significant growth internationally Despite the gains, sentiment remains fragile as investors seek evidence that price pressures are peaking in the global economy. US data later Wednesday may show inflation moderated in April but stayed above 8%. Traders will use this information to weigh whether the Fed can continue with its half-point hikes as expected or will need to opt for a three-quarter-point increase (or reverse hiking once the US slides into recession). In other words, there’s a lot riding on the inflation figure, Esty Dwek, CIO at Flowbank SA, said in an interview with Bloomberg TV. Still, “the Fed is going to need to see a number of months of lower inflation before they start to even consider taking their foot of the pedal.” In Europe, the Stoxx 600 Index was 1.2% higher, with consumer products and mining stocks leading the gains. The CAC outperforms, rising as much as 2% back to Monday’s best levels. Health care stocks underperformed as Roche Holding slumped as its cancer medicine billed as a potential blockbuster failed in a study on patients with the most common form of lung cancer. Here are some of the biggest European movers today: Compass shares gain as much as 12% after the catering company reported 1H results that beat estimates, increased its FY revenue forecast and announced a buyback. European tobacco stocks rise after Philip Morris offered to buysmokeless tobacco company Swedish Match in a $16b transaction. Swedish Match +9%, Imperial Brands +1.3%, BAT +1% European luxury stocks outperform as investors anticipate improving demand from easing virus cases in China. Kering +3.4%, Hermes +2.8%, Swatch +5.1% Pirelli gains as much as 3.6% in Milan trading after posting what Deutsche Bank called a “good” 1Q with a very strong price/mix. HomeServe rises as much as 14% amid a Bloomberg report that Brookfield Asset Management is near a $5 billion deal for the emergency household repairs provider. Roche falls as much as 7.2% on news that the Skyscraper-01 trial for the lung cancer drug tiragolumab missed co-primary endpoints. Bayer slides as much as 7.6% after the Biden administration recommended the US Supreme Court reject a California Roundup appeal. Alstom declines as much as 11% to erase gains made earlier in the session after full-year results. K+S falls as much as 7% after the potash producer’s 1Q free cash flow was hit by cash out on CO2 certificates, and negative factoring effect, Baader says. Earlier in the session, Asian equities advanced, halting a seven-day slide, as new Covid cases fell in Shanghai and global appetite for risk improved. The MSCI Asia Pacific Index rallied 0.4% as tech giants Tencent and Alibaba climbed alongside consumer discretionary shares. China’s CSI 300 Index led gains in the region after Shanghai reported fewer daily infections Tuesday and zero cases found in the community.  Shanghai Reports No Community Spread as Infections Halve Asia’s benchmark is set to end its longest losing streak since March 2020. The gauge has lost more than $2 trillion in value since a January peak, amid concerns over China’s Covid-Zero stance, inflation and U.S. interest rates. “Asia and EM equities are entering the late stages of a bear market that has traversed valuation, regulation, geopolitics and supply chain pressures,” Morgan Stanley strategists including Jonathan Garner wrote in a report. The firm prefers Japanese shares, due to their return ratios, and Southeast Asian stocks that benefit from higher inflation. Asia’s equity gauge reversed a 0.5% loss as investors awaited the release of U.S. consumer-price index data due later today. Benchmarks in the Philippines and Singapore were among the worst performers in the region. India’s key equity gauges declined for a fourth day as quarterly earnings showed surging inflation eroding profit growth of top companies. The S&P BSE Sensex fell 0.5% to 54,088.39 in Mumbai to stretch its 4-day decline to 2.9%. The NSE Nifty 50 Index lost 0.5% on Wednesday. The key gauges have declined in all but one session this month. Fifteen of the 19 sector sub-indexes compiled by BSE Ltd. retreated, led by gauges of capital goods and information technology stocks. Of the 28 Nifty 50 companies that have announced results so far, 11 missed estimates and 17 matched. Cipla and Asian Paints were the latest to report profits below the consensus view after market hours on Tuesday. “Lack of fresh positive cues is forcing investors to dump equities and switch to safer havens like gold,” according to Shrikant Chouhan, an analyst with Kotak Securities. He expects a sharp pullback in key indexes as they are already trading in oversold territory and sees 16,000 as a key support level for the Nifty 50 index.  Infosys contributed the most to Sensex’s decline, decreasing by 1.7%. Out of 30 shares in the Sensex index, nine rose and 21 fell. In FX, the Bloomberg Dollar Spot Index fell after trading near a recent two-year high as the greenback weakened against all of its Group-of-10 peers. Risk-sensitive Scandinavian and Antipodean currencies led gains as traders positioned ahead of the US inflation data. Treasuries rallied, sending yields up to 7bps lower. The euro traded in a narrow range around $1.055 and European bonds rallied, with the periphery outperforming the core. Australian and New Zealand dollars were bought to reduce short positions against the greenback. Australia’s consumer confidence index fell 5.6% from a month ago to 90.4, the lowest since Aug. 2020, according to a report. In rates, Treasuries rallied for a second day ahead of today's CPI print and 10Y TSY auction. Yields were richer by as much as 6bp in belly of curve which bull-steepened, and tightened the 2s5s30s fly by 4bp on the day to lowest levels since late March; 10-year yields around 2.925%, outperforming bunds and gilts by 3.5bp and 3bp. The front-end lags with 2-year yields richer by ~3bp on the day, flattening 2s5s, 2s10s spreads by ~3bp. The US auction cycle resumes with $36b 10-year at 1pm ET, following well-bid 3-year Tuesday. WI 10- year yield ~2.92% is above auction stops since late 2018 and ~20bp cheaper than April’s, which tailed the WI by 3bp. In Europe, the fixed income rally also extended with 5y Germany richening ~6bps. Peripheral and semi-core spreads narrow with 10y Bund/BTP near 195bps. Gilts bull-flatten slightly with 2s10s narrowing back near 50bps. In commodities, Crude futures advanced; WTI rose over 3% and back on to a $102-handle. Base metals are mixed; LME nickel falls 2% while LME copper gains 1.3%. Spot gold rises roughly $13 to trade near $1,851/oz. Bitcoin rises above $31,000. Bitcoin has stabilised somewhat above the USD 30k mark after the recent bout of stablecoin induced pressure. Looking to the day ahead now, and the main highlight will be the aforementioned US CPI reading for April. Otherwise, central bank speakers include ECB President Lagarde, as well as the ECB’s Nagel, Vasle, Makhlouf, Knot, Centeno, Muller and Schnabel, and the Fed’s Bostic. Finally, earnings releases include Disney. Market Snapshot S&P 500 futures up 1.2% to 4,047 STOXX Europe 600 up 0.9% to 423.91 MXAP up 0.2% to 160.15 MXAPJ up 0.4% to 525.66 Nikkei up 0.2% to 26,213.64 Topix down 0.6% to 1,851.15 Hang Seng Index up 1.0% to 19,824.57 Shanghai Composite up 0.8% to 3,058.70 Sensex down 0.7% to 54,011.37 Australia S&P/ASX 200 up 0.2% to 7,064.68 Kospi down 0.2% to 2,592.27 German 10Y yield little changed at 0.98% Euro up 0.2% to $1.0555 Brent Futures up 2.8% to $105.34/bbl Gold spot up 0.5% to $1,847.30 U.S. Dollar Index down 0.28% to 103.62 Top Overnight News from Bloomberg ECB President Christine Lagarde said a first interest-rate increase in more than a decade may follow “weeks” after net bond-buying ends early next quarter, joining a growing crowd of policy makers signaling a move as soon as July ECB Governing Council member Joachim Nagel says the exit from very accommodative monetary policy should be “swift enough to affect the price path and to prevent second-round effects and a de- anchoring of inflation expectations” ECB Executive Board member Frank Elderson said policy makers can begin looking at raising interest rates from record lows in July, downplaying the risk of a euro-area recession as the war in Ukraine saps growth and fuels already record inflation The UK escalated its threats over the post-Brexit deal for Northern Ireland, saying the European Union’s latest proposals on trading arrangements won’t work and signaling it’s prepared to take unilateral steps unless a new agreement can be negotiated The EU’s executive arm is set to bolster renewables and energy savings goals as part of a 195 billion-euro ($205 billion) plan to end its dependency on Russian fossil fuels by 2027 For many of Sweden’s highly indebted consumers, the Riksbank’s sudden interest-rate increase at the end of April marks the start of a new squeeze that officials have long fretted about Czech policy maker Ales Michl, a vocal opponent of the central bank’s aggressive campaign to increase interest rates, was appointed to take over as the bank’s governor as the country struggles to contain its worst inflation in almost three decades A more detailed look at global markets courtesy of Newsquawk APAC stocks traded mixed following the choppy performance on Wall Street. ASX 200 was subdued and briefly fell below the 7,000 level with sentiment dampened by weak Consumer Confidence data. Nikkei 225 swung between gains and losses with the biggest movers driven by recent earnings releases. Hang Seng and Shanghai Comp were both initially lacklustre as property developer Sunac faces its grace period deadline for a dollar bond interest payment and with participants digesting the latest firmer than expected CPI and PPI data from China, although Chinese markets then strengthened amid speculation of policy easing in Q2 and positive signs from the COVID situation in Shanghai. Top Asian News Why China Is Sticking With Its Covid Zero Strategy: QuickTake Gray Market Hints at Tepid Trading Debut for Biggest India IPO Malaysia Surprises With Rate Hike to Head Off Inflation Defense Official Says Curfew May Be Lifted: Sri Lanka Latest European bourses are firmer across the board, Euro Stoxx 50 +1.4%, with the exception of the SMI -0.2% given the performance of heavyweight Roche, -6.5%. Stateside, futures are bolstered though with gains marginally more contained going into today's inflation data, ES +1.0%. China April vehicles sales -47.6% YY (-11.7% in March), according to the Industry Association; January-April -12.1% YY (prev. +51.8%). On Tuesday, CPCA says China sold 1.062mln passenger cars were sold in April which was -35.7% Y/Y. China's Auto Industry Association says the industry's development situation is gradually improving, firms are seeing May and June  as the window to make up for lost sales and production. Top European News Lagarde Joins ECB Officials Signaling July as Liftoff for Rates Siemens Energy Slides Amid Mounting Losses at Wind-Turbine Unit Ukraine, Russia Gas Clash Raises Threat to Europe’s Supply Bayer Drops After Supreme Court Urged to Reject Roundup Appeal FX Greenback grounded in advance of US CPI as Treasury yields recede and curve re-flattens, DXY slips further below 104.00 and sub-103.50 vs fresh 2022 peak at 104.190 on Monday. Aussie rebounds with iron ore and other commodities, shrugging off a drop in consumer confidence along the way; AUD/USD back on 0.7000 handle, albeit just and AUD/NZD around 1.1050 even though Kiwi relieved with full NZ reopening at the end of July and NZD/USD rebounds towards 0.6350 in response. Franc and Yen appreciate the less bearish bond climate, Euro underpinned as ECB President Lagarde joins others in guiding towards July rate hike; USD/CHF sub-0.9000, USD/JPY under 130.00 and EUR/USD circa 1.0575 at best. Loonie and Nokkie boosted by crude recovery, Swedish Crown supported by sharp rise in 1 year CPIF money market expectations; USD/CAD below 1.3000 and closer to hefty option expiry interest at 1.2950 (1.9bln vs 1.7bln at the round number). Yuan on firmer footing after stronger than forecast Chinese inflation data, but Czech Koruna floored as President confirms appointment of a known dove to govern CNB; USD/CNH around 6.7400, EUR/CZK near 25.4000. Fixed Income Latest recovery leg in debt lifts Bunds, Gilts and 10 year T-note to new WTD peaks, at 153.61, 119.69 and 119-09+ respectively. Solid covers at 10 year German and 7 year UK auctions given recent yield retreat, but some metrics show signs of investor reticence. Min focus ahead, US CPI data, but also USD 36bln T-note leg of refunding.   Commodities WTI and Brent are bolstered in excess of USD 3.00/bbl in a paring of recent losses alongside a positive turn in China's COVID situation. Currently, WTI Jun resides around USD 103/bbl (vs low USD 98.20/bbl) whilst Brent Jul trades around USD 105.50/bbl (vs low USD 101.30/bbl) US Energy Inventory Data (bbls): Crude +1.6mln (exp. -0.5mln), Gasoline +0.8mln (exp. -1.6mln), Distillates +0.7mln (exp. -1.3mln), Cushing +0.1mln. Libyan PM Bashagha announces the success of efforts to reopen the ports and oil fields in Libya, according to Sky News Arabia. Brazilian truck drivers are considering a strike from May 21st to stop a 9% rise in diesel prices by Petrobras, according to Estadão. Spot gold and silver are firmer and benefitting from the USD's continuing pullback to fresh WTD lows, albeit, the yellow metal is steady around USD 1850/oz pre-inflation. Central Banks ECB's Lagarde says we have not yet precisely defined the notion of “some time”, but I have been very clear that this could mean a period of only a few weeks. After the first rate hike, the normalisation process will be gradual. Judging by the incoming data, my expectation is that the (asset purchase programme) should be concluded early in the third quarter. Click here for analysis ECB's Muller says APP should end early July or a few weeks earlier; rate hike must not be far behind; appropriate for rates to be in positive territory by year-end, moves should be in 25bp increments. Rise in spreads is consistent with the changed ECB policy outlook; current policy is inappropriately easy, given high inflation. ECB's Elderson says they can start considering normalisation of the policy rate in July. ECB's Vasle says that inflation is becoming more broad-based and the policy response must follow the changed circumstances; supports further and faster action. Czech President Zeman has appointed Central Bank member Michl as the new governor, as expected; Czech President Zeman says does not wish to see a large decrease in interest rates but does not see a reason for additional increases. CBRT cuts its RRR for financing companies until May 13th, will be implemented at 0.00% until this point, according to the Official Gazette.   US Event Calendar 07:00: May MBA Mortgage Applications, prior 2.5% 08:30: April CPI YoY, est. 8.1%, prior 8.5% April CPI MoM, est. 0.2%, prior 1.2% April CPI Ex Food and Energy YoY, est. 6.0%, prior 6.5% April CPI Ex Food and Energy MoM, est. 0.4%, prior 0.3% April Real Avg Hourly Earning YoY, prior -2.7%, revised -2.6% April Real Avg Weekly Earnings YoY, prior -3.6%, revised -3.5% 14:00: April Monthly Budget Statement, est. $220b, prior - $225.6b DB's Jim Reid concludes the overnight wrap Markets have begun to stabilise over the last 24 hours following Monday’s rout, but there’s no doubt that risk appetite is still very subdued as worries about a potential recession gather pace. The S&P 500 eventually managed to post its first gain in 4 sessions (+0.24%) but only after spending half the day in the red. Today we get the all important US CPI report for April. This will be a very important one for markets and the Fed, since although policymakers have strongly signalled that they’re inclined to continue hiking by 50bps at the next couple of meetings, there is still 25/50/75bps to play for after those meetings. Today's report will help shape the early read into this and has an ability to move markets in a large manner if diverging from consensus too far. On that theme, we heard from an array of Fed speakers yesterday. The main takeaway was that +50bp hikes for the next few meetings is the preferred path, while at the margins the door was opened to consider larger hikes after that. For instance, Cleveland Fed President Mester (a voter this year) said that 75bps increases couldn’t be ruled out forever, and that the Fed could have to speed up in H2 if inflation didn’t ease, which coincided with the move into the red for US equities. Discussing another tool to help speed up that fight, she also noted the Fed could start selling asset holdings instead of letting them mature on their own which is currently the base case. Elsewhere Atlanta Fed President Bostic left the door open, saying that “everything is on the table”, but reinforced +50bp hikes were his preference for the next two or three meetings. Separately, New York Fed President Williams openly discussed the prospect that unemployment could rise as part of the Fed’s “soft landing”, saying that he “would not define a soft landing as unemployment staying at 3.6%”. He also mirrored the tone from Fed Chair Powell last week, who referred to a “softish” landing, which is certainly implying it might not be quite as smooth as they’d like in an ideal world, and speaks to the growing risks on the horizon. Elsewhere on inflation, President Biden gave a speech on this hot topic, saying his administration is weighing whether to cut tariffs which have been in place since the Trump Presidency in order to help fight rising prices, but no decisions have been made. So against that backdrop, all attention will shift over to the US CPI report for April today. Back in March, the year-on-year measure rose to a 4-decade high of +8.5%, but our US economists write in their preview (link here) that’s likely to have been the peak in the year-on-year measure, with today’s reading marking the start of a gradual move lower over the coming months. They see the year-on-year measure coming in at +7.9% as base effects from last year’s surge in used car prices begin to roll off. Meanwhile they see the month-on-month measure at just +0.05% thanks to modest declines in gasoline prices after their near 20% run-up in March. It’ll be important to keep an eye on whether inflationary pressures remain broad-based, so the housing components like rent will be ones to watch. As discussed at the top, US equities stabilised ahead of the print, with the S&P 500 gaining +0.24%, thus bringing its YTD decline to -16.05%. However, tech stocks outperformed thanks to a decline in yields, with the NASDAQ (+0.98%) and the FANG+ index (+1.42%) seeing bigger gains. And Europe also put in a stronger performance, with the STOXX 600 up +0.68% to end a run of 4 consecutive daily declines. For sovereign bonds it was a different story for the most part, as the prospect of a recession brought down inflation expectations and led to a decline in yields across multiple countries. Yields on 10yr Treasuries were down -4.3bps on the day to 2.99%, whilst those on 10yr bunds (-9.5bps), OATs (-9.9bps) and BTPs (-15.0bps) all saw sizeable moves lower as well, in spite of Bundesbank President Nagel’s endorsement of a July rate hike from the ECB. The main exception were front-end Treasury yields, with the 2yr yield ticking up by +1.2bps in light of the renewed chatter around 75bp hikes this cycle and a slightly more risk on day. This shift was also reflected in Fed funds futures, where the rate priced in by the December meeting rose +3.5bps yesterday, paring back a small amount of the -15.5bps decline on Monday. Overnight in Asia, major stock markets are mostly higher, with the Shanghai Composite (+1.63%) and the Hang Seng (+1.78%) racing ahead of the Nikkei (+0.44%) and the KOSPI (-0.05%). Chinese markets got a boost after Shanghai reported zero community cases and a halving of new infections. Optimism on covid powered stocks despite upside beats on both the CPI (2.1% vs 1.8% expected) and the PPI (8.0% vs 7.8% expected) overnight. Elsewhere, S&P 500 futures (+0.37%) are also in the green and the US 10y yield (-0.4bps) is edging lower. Oil has been volatile over the last 24 hours. Brent crude came down a further -3.28% yesterday, which means that it had lost just under $10/bbl over the two days so far this week whilst WTI (-3.23%) slipped back beneath $100/bbl. However this morning the two contracts are back up +2.85% and +1.75% respectively. The EU are continuing to work on further sanctions, and French President Macron spoke about energy security yesterday with Hungarian PM Orban, whose government have been resistant to stronger energy sanctions on Russia. Here in the UK, we had the State Opening of Parliament yesterday where the government outlined its legislative agenda. One potential area to watch out for is on the Brexit side, since there have been reports that legislation will be proposed that overrides parts of the Northern Ireland Protocol, which is the part of the Brexit deal that avoids a hard border between Northern Ireland and the Republic of Ireland, but instead puts an economic border in the Irish Sea between Great Britain and Northern Ireland. The government’s own explanatory notes to the Queen’s Speech yesterday said that “the Protocol needs to change”, but there was a distinctly lukewarm reaction from the EU to this prospect, with Commission Vice President Šefčovič saying in a statement that “Unilateral action by the UK would only make our work on possible solutions more difficult” and that “renegotiation is not an option”. On the data side, Germany’s ZEW survey for May saw the expectations indicator unexpectedly rise to -34.3 (vs. -43.5 expected), up from its 2-year low in April. However, the current situation measure fell by more than expected to -36.5 (vs. -35.0 expected), reaching its lowest level in a year. Elsewhere, Italian industrial production was unchanged in March (vs. -1.5% expected). To the day ahead now, and the main highlight will be the aforementioned US CPI reading for April. Otherwise, central bank speakers include ECB President Lagarde, as well as the ECB’s Nagel, Vasle, Makhlouf, Knot, Centeno, Muller and Schnabel, and the Fed’s Bostic. Finally, earnings releases include Disney. Tyler Durden Wed, 05/11/2022 - 07:52.....»»

Category: blogSource: zerohedgeMay 11th, 2022

CHAMPION IRON PROVIDES NOTICE OF FOURTH QUARTER AND FISCAL YEAR 2022 RESULTS AND CONFERENCE CALL WEBCAST DETAILS

MONTRÉAL, May 11, 2022 /CNW Telbec/ - Champion Iron Limited (TSX:CIA) (ASX: CIA) (OTCQX:CIAFF) ("Champion" or the "Company") announces that it will be hosting a conference call and webcast on May 26, 2022, at 8:30 AM (Montréal Time) / 10:30 PM (Sydney time) with senior management, during which they will review the Company's fourth quarter and fiscal year 2022 financial and operational results.  Champion's audited consolidated financial statements and management's discussion and analysis for the fourth quarter and fiscal year ended March 31, 2022 will be released prior to the conference call and webcast, and will be available in the "Financial & Regulatory Reports" section of the Company's website at www.championiron.com, under the Company's profile on SEDAR at www.sedar.com and on the ASX at www.asx.com.au. A live audio webcast of the conference call will be accessible for a period of 90 days through Champion's website at www.championiron.com/investors/events-presentations. Access to the Conference Call:.....»»

Category: earningsSource: benzingaMay 11th, 2022

BOARDWALK REIT REPORTS SOLID FIRST QUARTER RESULTS, WITH INCREASING OCCUPANCY AND FURTHER POSITIVE LEASING MOMENTUM INTO THE SPRING

SUMMARY HIGHLIGHTS FOR THE THREE-MONTH PERIOD ENDED MARCH 31, 2022 STRONG FINANCIAL PERFORMANCE Profit of $69.4 million Funds From Operations ("FFO") of $0.68 per Unit(1); an increase of 4.6% SOLID OPERATIONAL RESULTS DESPITE NON-CONTROLLABLE EXPENSE INFLATION Q1 2022 same property(2) rental revenue growth of 2.1% Q1 2022 same property Net Operating Income ("NOI") of $64.9 million; an increase of 1.2% Q1 2022 same property occupancy of 95.53%; an increase of 67 basis points from last year Occupied rent increased to $1,217 in March of 2022, a $14 improvement from December 2021 POST-QUARTER LEASING STRENGTH April 2022 occupancy of 95.8% May 2022 preliminary occupancy of 96.6%, an increase of 100 basis points from January 2022  Post-quarter occupancy growth Positive improvements in both new and renewal leasing spreads  FLEXIBLE FINANCIAL POSITION Approximately $255.8 million of total available liquidity 95% of Boardwalk's mortgages carry CMHC-insurance Unitholders' Equity of $3.3 billion Net Asset Value increased to $68.61 per Unit(1) ACCRETIVE AND STRATEGIC CAPITAL ALLOCATION Acquisition of Ardglen Place, a 152-suite apartment community in Brampton, ON Acquisition of Peak Estates, a 148-suite apartment community in Canmore, AB Removed conditions on purchase of additional development site in Victoria, BC Invested $7.6 million in the repurchase and cancellation of 137,500 Trust Units in the first quarter UPDATE TO 2022 FINANCIAL GUIDANCE FOR INCREASED VOLATILITY IN UTILITY AND INTEREST COSTS Updated FFO per unit range of $2.95 to $3.15 per Unit(1) Updated same property NOI growth of +2.0% to +5.0% (1) Please refer to the section titled "Presentation of Non-GAAP Measures" in this Earnings Release for more information. (2) Same property figures exclude un-stabilized properties (properties which have been owned for less than 24 months) and sold assets.   CALGARY, AB, May 9 2022 /PRNewswire/ - Boardwalk Real Estate Investment Trust (TSX:BEI) Boardwalk Real Estate Investment Trust ("Boardwalk", the "REIT" or the "Trust") today announced its financial results for the first quarter of 2022. Sam Kolias; Chairman and Chief Executive Officer of Boardwalk REIT commented: "We are pleased to report on another solid quarter to begin 2022, with growth in NOI, FFO, and Profit through the Omicron wave of the pandemic and non-controllable cost inflation primarily in our utilities expense through the winter months. As we look forward to our busy spring and summer leasing season, we have seen significant leasing gains with our May occupancy increasing to 96.6%.  Leasing spreads on both renewals and new leases have seen strong improvement, and in our largest market of Alberta, have seen renewal spreads increase to 4.7% in the month of April.  New lease spreads have also turned positive with housing fundamentals improving in each of our markets allowing for incentive reductions and positive rental rate growth.  Increased interest rates and anticipated significantly higher utility costs in 2022 present a current headwind for community providers, however, our portfolio of affordable, unregulated, and high quality apartment communities is positioned to produce sustainable rental rate adjustments that allow Boardwalk to further build on our strong financial foundation."  FIRST QUARTER FINANCIAL HIGHLIGHTS $ millions, except per unit amounts Highlights of the Trust's First Quarter 2022 Financial Results 3 Months Mar 31, 2022 3 Months Mar 31, 2021 % Change Operational Highlights Rental Revenue $ 118.3 $ 115.8 2.2 % Same Property Rental Revenue $ 115.6 $ 113.3 2.1 % Net Operating Income (NOI) $ 64.9 $ 63.9 1.6 % Same Property NOI $ 64.9 $ 64.1 1.2 % Operating Margin (1) 54.9 % 55.2 % Same Property Operating Margin 56.1 % 56.6 % Financial Highlights Funds From Operations (FFO) (2)(3) $ 34.5 $ 33.2 3.8 % Adjusted Funds From Operations (AFFO) (2)(3) $ 26.4 $ 24.8 6.8 % Profit $ 69.4 $ 29.0 139.6 % FFO per Unit (3) $ 0.68 $ 0.65 4.6 % AFFO per Unit (3) $ 0.52 $ 0.49 6.1 % Regular Distributions Declared (Trust Units & LP Class B Units) $ 13.0 $ 12.8 1.5 % Regular Distributions Declared Per Unit (Trust Units & LP Class B Units) $ 0.257 $ 0.250 2.6 % FFO Payout Ratio (3) 37.6 % 38.4 % Stabilized Apartment Suites 32,787 32,909 Un-Stabilized Suites 777 487 Total Apartment Suites 33,564 33,396 (1) Operating margin is calculated by dividing NOI by rental revenue allowing management to assess the percentage of rental revenue which generated profit. (2)  This is a non-GAAP financial measure.  (3)  Please refer to the section titled "Presentation of Non-GAAP Measures" in this Earnings Release for more information.   Continued Highlights of the Trust's First Quarter 2022 Financial Results Mar 31, 2022 Dec 31, 2021 Equity Unitholders' Equity $ 3,303,202 $ 3,253,178 Net Asset Value Net asset value (1)(2) $ 3,464,858 $ 3,412,130 Net asset value per Unit (2) $ 68.61 $ 66.87 Liquidity, Debt and Distributions Cash and cash equivalents $ 29,805 $ 64,300 Subsequent committed/funded financing $ 26,270 $ 42,200 Unused committed revolving credit facility $ 199,750 $ 199,750 Total Available Liquidity $ 255,825 $ 306,250 Total mortgage principal outstanding $ 3,213,425 $.....»»

Category: earningsSource: benzingaMay 9th, 2022

BOARDWALK REIT REPORTS SOLID FIRST QUARTER RESULTS, WITH INCREASING OCCUPANCY AND FURTHER POSITIVE LEASING MOMENTUM INTO THE SPRING

SUMMARY HIGHLIGHTS FOR THE THREE-MONTH PERIOD ENDED MARCH 31, 2022 STRONG FINANCIAL PERFORMANCE Profit of $69.4 million Funds From Operations ("FFO") of $0.68 per Unit(1); an increase of 4.6% SOLID OPERATIONAL RESULTS DESPITE NON-CONTROLLABLE EXPENSE INFLATION Q1 2022 same property(2) rental revenue growth of 2.1% Q1 2022 same property Net Operating Income ("NOI") of $64.9 million; an increase of 1.2% Q1 2022 same property occupancy of 95.53%; an increase of 67 basis points from last year Occupied rent increased to $1,217 in March of 2022, a $14 improvement from December 2021 POST-QUARTER LEASING STRENGTH April 2022 occupancy of 95.8% May 2022 preliminary occupancy of 96.6%, an increase of 100 basis points from January 2022  Post-quarter occupancy growth Positive improvements in both new and renewal leasing spreads  FLEXIBLE FINANCIAL POSITION Approximately $255.8 million of total available liquidity 95% of Boardwalk's mortgages carry CMHC-insurance Unitholders' Equity of $3.3 billion Net Asset Value increased to $68.61 per Unit(1) ACCRETIVE AND STRATEGIC CAPITAL ALLOCATION Acquisition of Ardglen Place, a 152-suite apartment community in Brampton, ON Acquisition of Peak Estates, a 148-suite apartment community in Canmore, AB Removed conditions on purchase of additional development site in Victoria, BC Invested $7.6 million in the repurchase and cancellation of 137,500 Trust Units in the first quarter UPDATE TO 2022 FINANCIAL GUIDANCE FOR INCREASED VOLATILITY IN UTILITY AND INTEREST COSTS Updated FFO per unit range of $2.95 to $3.15 per Unit(1) Updated same property NOI growth of +2.0% to +5.0% (1) Please refer to the section titled "Presentation of Non-GAAP Measures" in this Earnings Release for more information. (2) Same property figures exclude un-stabilized properties (properties which have been owned for less than 24 months) and sold assets.   CALGARY, AB, May 9 2022 /CNW/ - Boardwalk Real Estate Investment Trust (TSX:BEI) Boardwalk Real Estate Investment Trust ("Boardwalk", the "REIT" or the "Trust") today announced its financial results for the first quarter of 2022. Sam Kolias; Chairman and Chief Executive Officer of Boardwalk REIT commented: "We are pleased to report on another solid quarter to begin 2022, with growth in NOI, FFO, and Profit through the Omicron wave of the pandemic and non-controllable cost inflation primarily in our utilities expense through the winter months. As we look forward to our busy spring and summer leasing season, we have seen significant leasing gains with our May occupancy increasing to 96.6%.  Leasing spreads on both renewals and new leases have seen strong improvement, and in our largest market of Alberta, have seen renewal spreads increase to 4.7% in the month of April.  New lease spreads have also turned positive with housing fundamentals improving in each of our markets allowing for incentive reductions and positive rental rate growth.  Increased interest rates and anticipated significantly higher utility costs in 2022 present a current headwind for community providers, however, our portfolio of affordable, unregulated, and high quality apartment communities is positioned to produce sustainable rental rate adjustments that allow Boardwalk to further build on our strong financial foundation."  FIRST QUARTER FINANCIAL HIGHLIGHTS $ millions, except per unit amounts Highlights of the Trust's First Quarter 2022 Financial Results 3 Months Mar 31, 2022 3 Months Mar 31, 2021 % Change Operational Highlights Rental Revenue $ 118.3 $ 115.8 2.2 % Same Property Rental Revenue $ 115.6 $ 113.3 2.1 % Net Operating Income (NOI) $ 64.9 $ 63.9 1.6 % Same Property NOI $ 64.9 $ 64.1 1.2 % Operating Margin (1) 54.9 % 55.2 % Same Property Operating Margin 56.1 % 56.6 % Financial Highlights Funds From Operations (FFO) (2)(3) $ 34.5 $ 33.2 3.8 % Adjusted Funds From Operations (AFFO) (2)(3) $ 26.4 $ 24.8 6.8 % Profit $ 69.4 $ 29.0 139.6 % FFO per Unit (3) $ 0.68 $ 0.65 4.6 % AFFO per Unit (3) $ 0.52 $ 0.49 6.1 % Regular Distributions Declared (Trust Units & LP Class B Units) $ 13.0 $ 12.8 1.5 % Regular Distributions Declared Per Unit (Trust Units & LP Class B Units) $ 0.257 $ 0.250 2.6 % FFO Payout Ratio (3) 37.6 % 38.4 % Stabilized Apartment Suites 32,787 32,909 Un-Stabilized Suites 777 487 Total Apartment Suites 33,564 33,396 (1) Operating margin is calculated by dividing NOI by rental revenue allowing management to assess the percentage of rental revenue which generated profit. (2)  This is a non-GAAP financial measure.  (3)  Please refer to the section titled "Presentation of Non-GAAP Measures" in this Earnings Release for more information.   Continued Highlights of the Trust's First Quarter 2022 Financial Results Mar 31, 2022 Dec 31, 2021 Equity Unitholders' Equity $ 3,303,202 $ 3,253,178 Net Asset Value Net asset value (1)(2) $ 3,464,858 $ 3,412,130 Net asset value per Unit (2) $ 68.61 $ 66.87 Liquidity, Debt and Distributions Cash and cash equivalents $ 29,805 $ 64,300 Subsequent committed/funded financing $ 26,270 $ 42,200 Unused committed revolving credit facility $ 199,750 $ 199,750 Total Available Liquidity $ 255,825 $ 306,250 Total mortgage principal outstanding $ 3,213,425 $ 3,088,978.....»»

Category: earningsSource: benzingaMay 9th, 2022

Don’t Expect Much From SoFi’s Earnings Report

InvestorPlace - Stock Market News, Stock Advice & Trading Tips SoFi announces Q1 2022 results Tuesday after the markets close. Down 73% over the past six months, SOFI stock likely won’t get any good news. The post Don’t Expect Much From SoFi’s Earnings Report appeared first on InvestorPlace. More From InvestorPlace Stock Prodigy Who Found NIO at $2… Says Buy THIS It doesn’t matter if you have $500 in savings or $5 million. Do this now. Get in Now on Tiny $3 ‘Forever Battery’ Stock Early Bitcoin Millionaire Reveals His Next Big Crypto Trade “On Air”.....»»

Category: topSource: investorplaceMay 9th, 2022

The son of former dictator Ferdinand Marcos might be the Philippines" next president, leaving watchdog groups concerned his win would halt the search for his family"s ill-gotten wealth

Ferdinand Marcos stole billions from his people during his 20-year dictatorship. His son Bongbong is leading the 2022 Philippines presidential election. Presidential candidate Ferdinand Marcos Jr. at a political rally in Rizal Province, Philippines on December 11, 2021Ryan Eduard Benaid/NurPhoto via Getty Images) Under Ferdinand Marcos' dictatorship, 34,000 people were tortured and over 3,200 more were murdered. The Marcos family also illegally amassed over $10 billion during Marcos' 20-year rule. His son, Bongbong Marcus currently leads the race for the Philippines president, per Reuters. Ferdinand Marcos, Jr., the son of former Philippines dictator Ferdinand Marcos, is the frontrunner in the country's upcoming presidential election, sparking concern that searches for the family's illegally-amassed wealth — believed to be as much as $10 billion — will be squelched if he wins.Marcos Jr. — or Bongbong as locals call him — is on track to win the May 9 presidential election, per Reuters. In mid-April, Bongbong was 33% points ahead of his closest competitor, Leni Robredo — despite being the son of former dictator Ferdinand Marcos and first lady Imelda Marcos, the notorious political couple who stole billions from the Filipino people during their 20-year rule.Before their downfall in 1986, the Marcos "earned" their wealth by embezzling government funds and financial aid. They were not shy about flaunting their wealth and lived a lavishly extravagant lifestyle, investing in four Manhattan properties worth more than $300 million at the time. They also owned more than 200 artworks, including masterpieces by Picasso, Van Gogh, and Michelangelo, many of which are still missing.According to Bloomberg, the family's assets are believed to be between $5 billion and $10 billion. In addition to Marcos' financial crimes, he was also a violent ruler who imposed martial law in 1972. Over nine years, tens of thousands of Filipinos were detained, tortured, and killed, according to human rights group Amnesty International.Former first lady Imelda Marcos at her Manila apartment in June 2007, with a painting of Picasso behind her.ROMEO GACAD/AFP via Getty ImagesWhen Marcos was re-elected again in February 1986, millions took to the streets to protest against his corruption and brutality, and the family fled the country. The Marcoses lived in exile in Hawaii, bringing along stacks of gold, gems, jewelry, and multiple boxes of cash, per The Los Angeles Times, citing a US Customs Service inventory of seized items. The seized assets were valued at $7.7 million at the time.To date, the Marcos family still has access to most of its stolen fortune as the family ignored court orders and appealed against rulings to hand over their assets, according to a Reuters review of court filings, government documents, and legal depositions by Bongbong.The Presidential Commission on Good Government, a Philippines quasi-government agency whose sole purpose is to hunt and retrieve the illegally-amassed wealth of the Marcoses, told Reuters that they only managed to retrieve $5 billion worth of assets. As of 2021, they are still trying to recover $2.4 billion from the family.In 1991, the Marcos family returned from exile, and Bongbong began building his family's image once more. He served as a senator from 2010 to 2016, per Time. He ran for vice president in 2016 but lost. In 2021, he returned to the political stage to announce his bid for president. With Bongbong in the lead, some watchdog groups are concerned that the hunt for Marcos's unaccounted wealth will end if he becomes president.Ruben Carranza, a former PCGG commissioner, told Reuters on May 3 that a Bongbong win could put a wrench in the 36-year-long battle to retrieve the family's wealth. Bongbong will be sure to protect "whatever ill-gotten wealth" the family has kept, Carranza added.Carranza's concern is warranted: Bongbong and his siblings have refused to pay a $3.9 billion — with penalties — tax bill for years. In 2018, Bongbong's mother, Imelda Marcos, was convicted on seven graft charges for funneling an estimated $200 million through Switzerland companies. The 92-year-old remains out on bail while she appeals her conviction. Imelda Marcos is known for her notorious shopping habit, famously amassing more than 3,000 pairs of designer shoes. Supporters of Ferdinand Marcos Jr. at Manila.TED ALJIBE/AFP via Getty ImagesDespite his family's legacy, many Filipinos see Bongbong as separate from Marcos's history of corruption."Many Filipinos like him, regardless of what his parents did. We believe that he will not make the same mistakes as his parents and trust that he will do his best for his people," Cristina, a 42-year-old farmer from Clark, Philippines, who asked to be identified by her first name, told Insider."Half of the treasures have already been confiscated by the Aquino government. Plus, previous presidents are also corrupted," Cristina's 67-year-old mother, Lucita added.Voting for the next Philippines president has started, and results will be announced on May 9.Read the original article on Business Insider.....»»

Category: smallbizSource: nytMay 6th, 2022

Homesick makes candles inspired by your city, state, or favorite experiences, and they make for a really sentimental gift idea

Homesick Candles are especially great gifts for college kids, frequent travelers, or anyone missing home. Prices are accurate at the time of publication.When you buy through our links, Insider may earn an affiliate commission. Learn more.Homesick Nothing can replace the feeling of home, but a scented candle from Homesick might be close. Homesick makes candles that smell like the 50 states, big cities, and being in your mom's house. In our experience, they don't smell exactly like "home" but still make a thoughtful gift. Homesick Candles$19.00 FROM HOMESICKHomesick Reed Diffuser$39.00 FROM HOMESICKScent is very closely tied to memory. When you smell cookies baking in the oven, you might feel like you're back in your grandma's kitchen decorating cookies with icing and sprinkles. But what about the scents of more abstract things like "home" and even geographic locations like New York? Homesick candles range from the hilarious to the sentimental, with unique scents that may not smell exactly like home, but perhaps an idealized version of it.What are Homesick candles?Candle company Homesick polled people around the US to find out what home smelled like to them to develop customized scents for each city and state, as well as experiences. The results range from the celebratory — like Let's Toast, which includes citrus and Champagne grapes — to the more sentimental — like Love Letters, which includes notes of rose, jasmine, sandalwood, peony, red plum, and lemon.Each candle is made from all-natural soy wax, which is then hand-poured into a glass container. The simple black-and-white labels let you know what candle you're smelling. The candles come in cute, colorful packaging, making them ready to gift to anyone who wants a whiff of nostalgia in their home away from home.The company also makes candles for astrology signs to Star Wars planets.Homesick's candles are reasonably priced starting at $19, and orders over $50 will get free shipping.What Homesick candles actually smell likeHomesick New York City Candle$34.00 FROM HOMESICK$34.00 FROM AMAZONWe tested a few of its candles and found that some of the scents transported us "home," while others smelled lovely but not quite like the places we imagined. Here are our team's thoughts on each candle we tried. New York City candleAs denizens of New York City, the Insider Reviews team typically remembers the malodorous smells we catch a whiff of on the street rather than the candle's idealistic "scents of spring days in Central Park, fine department stores, and concrete."Senior reporter Mara Leighton said it best when she described the candle as "what New York smells like in your dreams before you actually move here." The candle smells a lot like Macy's in Herald Square and is infinitely preferable to the iffy smell of the city streets and the subway.When I burned the NYC candle in my apartment, it smelled amazing. The gentle scent made my entire apartment smell great, and it burned evenly.United Kingdom candleSenior home & kitchen editor Lauren Savoie purchased the United Kingdom candle after a bout of nostalgia for her time living across the pond. The candle is advertised as smelling like bergamot, grass, rain, Earl Grey tea, apple crumb, toffee, vanilla, and sugar. While the candle smelled pleasant, it didn't exactly smell like how she imagined. "This one was much more sweet than it was hoppy or grassy like I imagine the UK to be. While it was lovely to burn, I can't say it transported me back to my days stomping down London's streets," she said.Ski Trip candleFormer health & fitness editor Rachel Shultz owns the Ski Trip candle, with notes of frosted air, cocoa, and warm amber. "As someone who lives in a ski town, it didn't smell distinctly themed to me (but what does snow and fun smell like?), but it does smell delicious regardless," she said.Let's Toast candleStory production manager Francesca Rea owns the Let's Toast candle, which is packed with citrusy Champagne notes. "I actually really liked the scent, but I did think it was pretty strong," she said. Some might find it a bit overpowering. We think this candle would make a great gift for anyone celebrating a special milestone like an engagement or promotion.New Mexico candleFormer travel editor Hannah Freedman is a New Mexico native, and while she enjoyed the smell of this candle, it didn't quite hit all the marks of home. ("Where is the juniper or pinon??")South Dakota candleThis one was the biggest miss of the candles our team tried, with Freedman reporting it smells "like soap," and not in a good way.Flameless optionsHomesick Reed Diffuser$39.00 FROM HOMESICKIf you don't like candles because of the fire risk, you may prefer Homesick's reed diffuser. The glass bottle has four ounces of essential oils that saturate reeds for a lovely scent, and you can choose from several different Homesick oils that smell the same as the brand's candles.Should you buy Homesick candles?HomesickWhile not all of us felt a sense of nostalgia associated with the Homesick candles we tried, we still think they make excellent gifts. Scent is deeply personal, and what smells like home to one person may not to another.What we particularly like about Homesick candles is the sentiment they convey. Selecting a scent specifically for your giftee that acknowledges their current circumstances feels much more personal than choosing a generic candle.Senior story producer Francesca Rea gifted a Connecticut candle to a friend stationed in Germany when he missed his first Christmas at home and reports he was really moved by the sentiment. Even if the candle's scent doesn't transport your giftee home, the simple act of receiving such a curated gift will make them feel a connection to the place they're missing.What are your alternatives?We've put together a full guide to the best places to buy candles. If you're looking for transporting scents in particular, we recommend checking out Otherland candles. The bottom lineAt $34, Homesick candles are reasonably priced so you can gift them for every occasion. College students and those who are just getting started in a new city or state will love the nostalgia factor, and anyone who likes candles will appreciate how well made they are.Shop all Homesick candles and diffusers.Read the original article on Business Insider.....»»

Category: topSource: businessinsiderMay 5th, 2022

Homesick candles might not smell exactly like home, but they make great gifts for anyone adjusting to a new city

Homesick makes candles inspired by your city, state, or favorite experiences. They're great gifts for college kids, travelers, or anyone missing home. Prices are accurate at the time of publication.When you buy through our links, Insider may earn an affiliate commission. Learn more.Homesick Nothing can replace the feeling of home, but a scented candle from Homesick might be close. Homesick makes candles that smell like the 50 states, big cities, and being in your mom's house. In our experience, they don't smell exactly like "home" but still make a thoughtful gift. Homesick Candles$19.00 FROM HOMESICKHomesick Reed Diffuser$39.00 FROM HOMESICKScent is very closely tied to memory. When you smell cookies baking in the oven, you might feel like you're back in your grandma's kitchen decorating cookies with icing and sprinkles. But what about the scents of more abstract things like "home" and even geographic locations like New York? Homesick candles range from the hilarious to the sentimental, with unique scents that may not smell exactly like home, but perhaps an idealized version of it.What are Homesick candles?Candle company Homesick polled people around the US to find out what home smelled like to them to develop customized scents for each city and state, as well as experiences. The results range from the celebratory — like Let's Toast, which includes citrus and Champagne grapes — to the more sentimental — like Love Letters, which includes notes of rose, jasmine, sandalwood, peony, red plum, and lemon.Each candle is made from all-natural soy wax, which is then hand-poured into a glass container. The simple black-and-white labels let you know what candle you're smelling. The candles come in cute, colorful packaging, making them ready to gift to anyone who wants a whiff of nostalgia in their home away from home.The company also makes candles for astrology signs to Star Wars planets.Homesick's candles are reasonably priced starting at $19, and orders over $50 will get free shipping.What Homesick candles actually smell likeHomesick New York City Candle$34.00 FROM HOMESICK$34.00 FROM AMAZONWe tested a few of its candles and found that some of the scents transported us "home," while others smelled lovely but not quite like the places we imagined. Here are our team's thoughts on each candle we tried. New York City candleAs denizens of New York City, the Insider Reviews team typically remembers the malodorous smells we catch a whiff of on the street rather than the candle's idealistic "scents of spring days in Central Park, fine department stores, and concrete."Senior reporter Mara Leighton said it best when she described the candle as "what New York smells like in your dreams before you actually move here." The candle smells a lot like Macy's in Herald Square and is infinitely preferable to the iffy smell of the city streets and the subway.When I burned the NYC candle in my apartment, it smelled amazing. The gentle scent made my entire apartment smell great, and it burned evenly.United Kingdom candleSenior home & kitchen editor Lauren Savoie purchased the United Kingdom candle after a bout of nostalgia for her time living across the pond. The candle is advertised as smelling like bergamot, grass, rain, Earl Grey tea, apple crumb, toffee, vanilla, and sugar. While the candle smelled pleasant, it didn't exactly smell like how she imagined. "This one was much more sweet than it was hoppy or grassy like I imagine the UK to be. While it was lovely to burn, I can't say it transported me back to my days stomping down London's streets," she said.Ski Trip candleFormer health & fitness editor Rachel Shultz owns the Ski Trip candle, with notes of frosted air, cocoa, and warm amber. "As someone who lives in a ski town, it didn't smell distinctly themed to me (but what does snow and fun smell like?), but it does smell delicious regardless," she said.Let's Toast candleStory production manager Francesca Rea owns the Let's Toast candle, which is packed with citrusy Champagne notes. "I actually really liked the scent, but I did think it was pretty strong," she said. Some might find it a bit overpowering. We think this candle would make a great gift for anyone celebrating a special milestone like an engagement or promotion.New Mexico candleFormer travel editor Hannah Freedman is a New Mexico native, and while she enjoyed the smell of this candle, it didn't quite hit all the marks of home. ("Where is the juniper or pinon??")South Dakota candleThis one was the biggest miss of the candles our team tried, with Freedman reporting it smells "like soap," and not in a good way.Flameless optionsHomesick Reed Diffuser$39.00 FROM HOMESICKIf you don't like candles because of the fire risk, you may prefer Homesick's reed diffuser. The glass bottle has four ounces of essential oils that saturate reeds for a lovely scent, and you can choose from several different Homesick oils that smell the same as the brand's candles.Should you buy Homesick candles?HomesickWhile not all of us felt a sense of nostalgia associated with the Homesick candles we tried, we still think they make excellent gifts. Scent is deeply personal, and what smells like home to one person may not to another.What we particularly like about Homesick candles is the sentiment they convey. Selecting a scent specifically for your giftee that acknowledges their current circumstances feels much more personal than choosing a generic candle.Senior story producer Francesca Rea gifted a Connecticut candle to a friend stationed in Germany when he missed his first Christmas at home and reports he was really moved by the sentiment. Even if the candle's scent doesn't transport your giftee home, the simple act of receiving such a curated gift will make them feel a connection to the place they're missing.What are your alternatives?We've put together a full guide to the best places to buy candles. If you're looking for transporting scents in particular, we recommend checking out Otherland candles. The bottom lineAt $34, Homesick candles are reasonably priced so you can gift them for every occasion. College students and those who are just getting started in a new city or state will love the nostalgia factor, and anyone who likes candles will appreciate how well made they are.Shop all Homesick candles and diffusers.Read the original article on Business Insider.....»»

Category: topSource: businessinsiderMay 5th, 2022

Filo Mining Reports Q1 2022 Results; Extends Breccia 41 and Confirms Continuity of Grades within Aurora Zone

VANCOUVER, BC, May 4, 2022 Filo Mining Corp. (TSX:FIL) (Nasdaq First North Growth Market: FIL) (OTCQX:FLMMF) ("Filo Mining" or the "Company") announces its results for the three months ended March 31, 2022. PDF version. HIGHLIGHTS AND OUTLOOK Ongoing 2021/2022 campaign continues to deliver exploration success, extending one of the high-grade breccias, and defining continuity of strong mineralization in the Aurora Zone Jamie Beck, President & CEO, commented, "To date, the 2021/2022 program at Filo del Sol has already returned the best silver intersection ever at the project, extended the high-grade Breccia 41 zone, and demonstrated continuity of strong mineralization within the Aurora Zone. Several holes are currently underway, and four holes have now been completed with assays pending. The completed holes include holes 55C, 57 and 59 which will look to extend the high-grade Breccia 41 mineralization to the north by up to 200m, while hole 60 tests the sparsely drilled area north of Hole 37, potentially expanding the north-south expanse of the deposit significantly.  With the closing of the $100 million, non-brokered private placement to BHP earlier this year, the Company is well funded to ramp up our exploration efforts, and we are excited to embark on our first ever drill program throughout the upcoming South American winter months." On March 11, 2022, the Company closed the sale of 6,270,000 common shares to BHP Western Mining Resources International Pty Ltd, a wholly owned subsidiary of BHP Group Limited (collectively, "BHP"), by way of a non-brokered private placement, at a price of $15.95 per common share for total gross proceeds of $100 million (the "Private Placement") (see news releases dated February 28, 2022 and March 11, 2022). Share issuance costs related to the Private Placement totaled $0.3 million, and comprised of professional fees and regulatory fees. No finder's fee or commissions were payable in connection with the Private Placement. The closing of the Private Placement has provided Filo Mining with valuable operational flexibility as it seeks to expediently and efficiently define the Filo del Sol deposit, which has the potential to be a generational discovery and significant asset in an emerging copper-gold-silver district. As of the date of this News Release, the Company's 2021/2022 drill campaign has been expanded to seven diamond rigs, with an additional reverse circulation ("RC") rig. The RC rig is being used to pre-collar holes in the challenging, intensely altered rock overlying Breccia 41 in order to improve drill productivity and hole completion rates. The Company intends to have these rigs turning through the winter season in South America, thereby operating year-round for the first time in the history of Filo del Sol. In addition, the Company is also reviewing the possibility of adding additional rigs to the program following the South American winter to further expedite advancement of the Filo del Sol project. To date, assays results have been received for five completed holes from the ongoing program, which has already extended the high-grade mineralization of Breccia 41, confirmed the continuity of strong mineralization within the broader Aurora Zone, and served as a reminder of the remarkable metal content of the deposit, which provides optionality for future development and project financing scenarios. Select highlights from the program so far include: FSDH054 intersecting 172m at 3.22% CuEq (1.51% Cu; 1.42g/t Au; 75.9g/t Ag) from a depth of 830m within a broader interval of 1,224m at 1.26% CuEq (0.71% Cu; 0.54g/t Au; 18.0g/t Ag) from a depth of 146m. This hole was collared 60m east of, and drilled parallel to, FSDH041 and the mineralization intersected is completely outside of the current Mineral Resource, successfully extending Breccia 41; FSDH055A, which returned the best precious metal intersections on the project to date, with 64m at 1,213.8g/t Ag and 0.49g/t Au from a depth of 362m; FSDH056, which intersected 502m at 0.89% CuEq (0.50% Cu; 0.40g/t Au; 11.4g/t Ag) from a depth of 168m, ending in over 1% CuEq mineralization at a depth of 670m, where it was abandoned due to poor ground conditions; and FSDH058 returning 1,252m at 0.91% CuEq (0.56% Cu; 0.41g/t Au; 6.6g/t Ag) from a depth of 100m, including 310m at 1.40% CuEq (0.87% Cu; 0.62g/t Au; 8.2g/t Ag) from a depth of 600m. This hole confirmed continuity of strong mineralization within the Aurora Zone, particularly connecting to hole FSDH048 which is 160m to the southeast. This hole was drilled to a final depth of 1,352m and is outside of the resource shell below a depth of 380m. Assay results to date from the 2021/2022 drill program are summarized in the table below: Hole-ID From (m) To  (m) Length (m) Cu (%) Au (g/t) Ag (g/t) CuEq (%) FSDH054 146.0 1,369.5 1,223.5 0.71 0.54 18.0 1.26 incl. 435.9 442.0 6.1 0.59 0.24 127.5 1.89 incl. 498.0 1,090.0 592.0 1.15 0.84 31.9 2.04 incl. 830.0 1,001.5 171.5 1.51 1.42 75.9 3.22 FSDH055A 362.0 426.0 64.0 0.01 0.49 1,213.8 incl. 374.4 402.0 27.6 0.01 0.50 2,439.2 incl. 380.0 388.0 8.0 0.01.....»»

Category: earningsSource: benzingaMay 4th, 2022

Ecopetrol announces the dates of the publication of its first quarter 2022 earnings report and conference calls

BOGOTÁ, Colombia, May 3, 2022 /PRNewswire/ -- Ecopetrol S.A. ((BVC: ECOPETROL, NYSE:EC) announces that on Tuesday May 10th, 2022, after market close, it will release its financial and operating results for the first quarter 2022. On Wednesday, May 11th, 2022, Ecopetrol's senior management will host two conference calls to review the results, one in Spanish and the other in English. Please find below the timing, dial-in and links to access the conferences: Spanish Conference Call English Conference Call 08:00 a.m. Col Time 10:00 a.m. Col Time 09:00 a.m. NY Time 11:00 a.m. NY Time US Dial-in #: 1 (404) 400-0571 US Dial-in #: 1 (404) 400-0571 US Dial-in # (Toll Free): 1 (866) 374-5140 US Dial-in # (Toll Free): 1 (866) 374-5140 Local Colombia Dial-in #: 57 601 485 0348 Local Colombia Dial-in #: 57 601 485 0348 Local Colombia Dial-in # (Free Toll):  01 800 5 190 788 Local Colombia Dial-in # (Free Toll):  01 800 5 190 788.....»»

Category: earningsSource: benzingaMay 3rd, 2022

The 8 best fitness trackers and how to pick the one that fits you best

Wearing a fitness tracker can help you monitor your daily activity and even provide workout inspiration. Here are the 8 best we've tested. Prices are accurate at the time of publication.When you buy through our links, Insider may earn an affiliate commission. Learn more.Amazon; Alyssa Powell/InsiderFitness trackers have come a long way since Fitbit introduced its first clip-on wearable in 2009, and are now like wearing full-on personal trainers on your wrist.The advanced utility native to modern fitness trackers has made them increasingly popular, too, even going so far as to replace some people's everyday watch. Because why not wear a single wearable that tracks everything aspect of your daily activity while still reliably telling time? But the real question people should ask themselves isn't whether they should wear one but rather, which they should wear. As the fitness editor for Insider Reviews, I'm no stranger to the world of fitness trackers and have spent years using them during every activity possible. To help you figure out which best fits your lifestyle, I've compiled my eight favorites below. I've also included answers to a few FAQs, as well as insight into how I test fitness trackers, at the end of this guide.Learn more about how Insider Reviews tests fitness products here.Here are the best fitness trackersBest overall: Suunto 7, $358.36 on AmazonThe Suunto 7 is a robust fitness tracker that offers support for more than 70 activities, has basic smartwatch features, and provides highly useful workout feedback. Best full-featured: Garmin Epix, $899.99 on GarminOutdoor enthusiasts will surely love Garmin's detail-oriented (and full featured) Epix, a robust fitness smartwatch that tracks, captures, and logs just about any activity you can think of (and then some). Best Fitbit: Fitbit Versa 3, $179.95 on Best BuyFitbit's Versa 3 combines the brand's excellent fitness tracking tech with in-depth smartwatch capability, unique sleep tracking, and a clean design reminiscent of the Apple WatchBest smartwatch: Apple Watch Series 7, $329 on Amazon The latest Apple Watch (the Series 7) continues the tech company's dominance in the smartwatch space, offering wearers a versatile fitness tracker that's full-featured, easy to use, and incredibly powerful.Best budget: Garmin Forerunner 35, from $127.99 on Amazon The Forerunner 35 utilizes so much of what makes Garmin one of the best fitness tracker brands on the market, including accurate GPS, reliable activity tracking, and a sleek, comfortable design.Best basic: Fitbit Charge 5, from $130 on AmazonIf exercising is part of your routine, you'll love being able to track your workout in real-time on the bright, easy-to-read screen of the Fitbit Charge 5. Best for feedback: Garmin Forerunner 745, $499.99 on GarminThe Forerunner 745 is the perfect representation of the power of Garmin's ecosystem, offering wearers fine-tuned workout recommendations and valuable fitness insight in an easy-to-use package.Best multisport: Coros Apex, $299 on AmazonThe Apex from Coros is a multisport athlete's dream: It offers in-depth support for a range of activities, it has excellent battery life and a comfortable fit that almost makes you forget you're wearing it.Best fitness tracker overallRick Stella/InsiderSuunto 7$341.66 FROM AMAZONOriginally $399.00 | Save 14%$348.99 FROM REIOriginally $400.00 | Save 13%The Suunto 7 is a robust fitness tracker that offers support for more than 70 activities, has basic smartwatch features, and provides highly useful workout feedback.  Pros: Activity tracking for over 70 activities, including everything from running and cycling to snowboarding and hiking, in-depth fitness tracking, offers workout feedback, accurate GPS, lets you download maps for offline useCons: App experience is clunky, expensiveThough Suunto isn't the first name to come to mind when talking about fitness trackers, its 7 smartwatch slash tracker is one of the most impressive wearables I've ever tested. Suunto only released the 7 in 2020 but it's spent almost that entire time on my wrist (when I'm not testing other trackers for this guide), and routinely impresses me and provides exactly what I want out of a fitness tracker: in-depth feedback, accurate activity tracking, and a wide variety of use cases. Not only am I able to track any run or bike ride I go on, but it also offers support for other activities like snowboarding, hiking, swimming, or even just walking (among literally so many others). The user's manual states that it covers more than 70 activities, but do take that with a grain of salt; some of the activities it tracks just account for length of activity and your heart rate. That means it's not actually tracking advanced stats for things like tennis or basketball.Even if you aren't a multisport athlete, the 7 still offers plenty to take advantage of. Its GPS function (even one year later) is highly accurate and reliable, both while I run through my neighborhood in Brooklyn or bike longer distances across the entire NYC area. It offers offline map support for those who like to ditch their smartphone and head into the backcountry (and make it out safe) and also has smartwatch capability by offering smartphone notification support. And although its price tag may shock at first glance ($400 is a lot to spend on a mere wearable), it more than makes up for that investment with everything it offers. Because it can be utilized and benefited from by such a wide range of active users makes it one of the most versatile fitness trackers available — and one I plan on continuing to wear for many years.Best full-featured fitness trackerRick Stella/InsiderGarmin Epix$999.99 FROM GARMINOutdoor enthusiasts will surely love Garmin's detail-oriented (and full featured) Epix, a robust fitness smartwatch that tracks, captures, and logs just about any activity you can think of (and then some). Pros: Tracks a wide variety of activities, offers on-wrist pulse oximeter readings, tracks stress levels, monitors sleep, suggests workouts — this watch does it allCons: ExpensiveGarmin's fenix line of fitness trackers has long been my go-to for a comprehensive wearable experience. I could run, bike, lift weights, snowboard, hike, or swim with it on and it'd be right there with me every step of the way; it did (and the current line still does) everything. So, when Garmin announced it was resurrecting its Epix line (the first generation debuted in 2015 while its second generation model released in 2022), I was unsure how it'd slot into the brand's lineup — it wasn't an exact fenix clone but I assumed it'd be close.After wearing the Epix for two months straight, I'm sold. It not only stands on its own away from the fenix but has proved it's more than capable of blazing its own trail (literally).And that's important for a smartwatch that costs upward of $900. Since its price puts it at the high end of the cost spectrum, it needs to offer wearers a far different experience than something like a $400 Apple Watch. Thankfully, it does and it's packed to the brim with features. There's wrist-based heart rate monitoring, sleep, step, stress, hydration, and respiration tracking, Garmin's patented Body Battery monitoring, and VO2 max readings. This is in addition to the endless list of available activities to track, unique coaching insights and workout tips, recovery time estimates, visual race time predictors, and custom workouts (the list goes on and on). But what's been most impressive about the watch is that it does each of these incredibly well and doesn't just seem like a bunch of features were lazily tacked on. I find myself using almost all of them in every facet of my day, too. I use the recovery time estimate to see what workout my body is ready for, the coaching insights for daily inspiration, the race time predictors to adjust my training schedule, and sleep tracking to see how well my body is resting.One of my favorite things to use is the digital bread crumb feature that comes in handy when hiking in areas with little to no service. With this, I'm always able to know the path back to a trailhead or major road, even if my phone dies or I'm not in an area with much cell service. And because of that laundry list of available features, and it's high price, it's meant more for anyone who's consistently active and who enjoys getting outside. Of course, anyone can buy one and use it but to get the most value out of it, you want to make sure you're using it — and with a battery that lasts up to about two weeks, you're going to get a lot of use out of it.Best Fitbit fitness trackerFitbitFitbit Versa 3$175.00 FROM WALMARTOriginally $229.95 | Save 24%$179.95 FROM AMAZONOriginally $229.95 | Save 22%$179.95 FROM BEST BUYOriginally $229.95 | Save 22%Fitbit's Versa 3 combines the brand's excellent fitness tracking tech with in-depth smartwatch capability, unique sleep tracking, and a clean design reminiscent of the Apple WatchPros: Automatic activity tracking, built-in GPS, in-depth sleep tracking and exercise data, great battery life, offers unique mindful minutes feature, and is water-resistant up to 50 metersCons: Doesn't always automatically syncFitbit's line of Versa watches ushered in the brand's first foray into smartwatch territory, and the resulting products (from the original Versa to today's Versa 3) have been a triumph. Each combines the in-depth and reliable fitness tracking Fitbit's built its name on with functional smartwatch features and a clean, stylish (and recognizable) design. Not only is the Versa 3 the latest in this new-ish product category for Fitbit, but it's also the brand's best. It has built-in (and accurate) GPS, is water-resistant up to 50 meters, and offers excellent battery life, meaning you won't have to worry about throwing it on its charger each night.That last part is an important distinction, too, as the Versa 3 provides wearers with in-depth sleep tracking, including how much REM sleep you get, how much you toss and turn, and when you're sleeping lightly. During my tests, I was amazed at how tumultuous my night of sleep can be — and the data allowed me to try to fix certain things about how I sleep, or when to start winding down to give myself the best chance for solid rest. Though this is starting to pop up on more fitness trackers today, I've found the Versa 3 to provide one of the better, more insightful experiences. From a tracking perspective, the Versa 3 shines. I really enjoyed the automatic tracking function, which allowed me to immediately start running after I put my shoes on instead of navigating a menu just to hit Start. This may seem a minor feature but I ended up using it far more than I thought I would.The other major component of the Versa 3 is its smartwatch capability. Though the features won't blow you away, I found that it did still function exactly as I needed, providing me quick glances at notifications without having to pull my phone out of my pocket (or locate it in my apartment). Android users get more features, like voice-to-text responses, but it still functioned well, albeit quite basic, with my iPhone. Best fitness tracker smartwatchoasisamuel/ShutterstockApple Watch Series 7$349.99 FROM AMAZONOriginally $399.00 | Save 12%$349.00 FROM WALMARTOriginally $399.00 | Save 13%$399.00 FROM APPLE$399.00 FROM BEST BUYThe latest Apple Watch (Series 7) continues the tech company's dominance in the smartwatch space, offering wearers a versatile fitness tracker that's full-featured, easy to use, and incredibly powerful.Pros: Wide range of accurate activity tracking, clean, stylish design, great for iPhone users, easy-to-read always-on touchscreen display, music integrationCons: Battery life isn't that great (you'll need to recharge it almost every day)You can't have a guide to the best fitness trackers without the appearance of the Apple Watch — it's that good. And aside from its quality, the Apple Watch is also one of the most important fitness wearables thanks to its ability to seamlessly blend fitness tracking and smartwatch capability. Other trackers in this guide offer something similar but Apple's wearable is by far and away the best to do it. From a fitness tracking perspective, it has a deep offering of trackable activities but excels with your basics like running, swimming, and cycling, as well as the company's new streaming service, Apple Fitness+. There's even a Nike version of the watch that comes with the Nike Run Club app pre-installed, so you know Apple intends for this to be on the wrist of a runner.It works really well in practice, too. The watch was always quite comfortable on my wrist, even on longer runs or bike rides, and the screen is really easy to read mid-activity. Its GPS isn't as quick as the Suunto 7 but it wasn't as fussy as my experience with Fitbit's Charge 4. When it does finally sync, it's quite accurate and routinely produced that same accuracy over days and weeks of testing. The Series 7 is rounded out by both its smartwatch offerings and advanced health analytics. There's sleep tracking, a blood oxygen sensor, an ECG reader, and even handwash tracking. I didn't find myself using everything all the time but it was nice knowing I had access to some of the more in-depth features whenever I wanted. Being able to respond to text messages and use it as a true smartwatch made it that much more valuable to me (especially as an iPhone user). Best budget fitness trackerGarminGarmin Forerunner 35$136.48 FROM AMAZONOriginally $169.99 | Save 20%The Forerunner 35 utilizes so much of what makes Garmin one of the best fitness tracker brands on the market, including accurate GPS, reliable activity tracking, and a sleek, comfortable design.Pros: Great battery life, plenty of functionality despite its basic design, lightweight, waterproof, built-in GPSCons: No swimming mode despite its waterproof design, GPS signal can be slow to lock onOften when you see the words "budget" and "fitness tracker" next to each other, you find a wearable offering the most basic of function and tracking capability. Then there's the Garmin Forerunner 35. Though vanilla in design, the Forerunner 35 is anything but "budget" in what it offers yet still has a very reasonable price tag of less than $100.If you've ever used a Garmin fitness tracker or smartwatch before, you know just how capable its ecosystem is — and the 35, though inexpensive, is no different. It features 24/7 heart rate monitoring, accurate GPS tracking, and compatibility with running and cycling (among a few others). What I liked best about the 35 during my tests was its attention to running features that more expensive watches just don't have, specifically its running cadence analysis and an interval training mode. With the run cadence feature, I was able to have a more in-depth look into my mechanics and could make more informed adjustments. For advanced runners, this data is invaluable. Navigation-wise, the Forerunner 35 is a breeze. Just a few buttons flank the bezel, each of which is straightforward in allowing you to access the watch's suite of features. It won't wow you in terms of design but this is one of the best bang-for-buck fitness trackers on the market. Best basic fitness trackerFitbitFitbit Charge 5$128.95 FROM AMAZONOriginally $179.95 | Save 28%$129.95 FROM TARGETOriginally $179.95 | Save 28%$129.95 FROM BEST BUYOriginally $179.95 | Save 28%If exercising is part of your routine, you'll love being able to track your workout in real-time on the bright, easy-to-read screen of the Fitbit Charge 5. Pros: Comfortable design, easy to read display, built-in heart rate monitor, in-depth sleep tracking, advanced workout features, real-time workout tracking on-screen, long battery life, user-friendly appCons: No music storage, basic black & white displayThe Fitbit Charge 5 supplants the Fitbit Charge 4 (our prior recommendation as the best budget fitness tracker), with a few new features that again make it one of the best values for any current fitness wearable.In addition to counting steps like any good fitness tracker should, the Charge 5 also measures stairs climbed, calories burned, resting, and active heart rate, and offers in-depth sleep tracking. It even shows which type of sleep you're in, be it light, deep, or REM. You can also see how your habits stack up against those of other people your age via the app. If you're feeling stressed, this tracker also offers breathing exercises to help you relax. And, diving into more of the workout features, the Charge 5 has dedicated functions for recording a wide range of activities, including running, cycling, cardio, and strength training. There's even a timer option for HIIT (High-Intensity Interval Training).It also lets you pause and resume workouts, and if you do forget to tell it you're starting an activity or workout it can automatically detect a session and start monitoring it.Other new features like a stress management score provide unique insights into your health, and there's even a new daily readiness score that lets you know if you're body is rested enough for another workout or if you should focus on rehabbing for the day (this is only accessible via a Fitbit Premium membership, however).  Best fitness tracker for feedbackAdam Molina/InsiderGarmin Forerunner 745$499.99 FROM GARMINThe Forerunner 745 is the perfect representation of the power of Garmin's ecosystem, offering wearers fine-tuned workout recommendations and valuable fitness insight in an easy-to-use package.  Pros: Huge variety of trackable activities, built-in pulse oximeter, and accurate heart-rate monitor, motivating recommended workouts and detailed accuracy as you wear it more, offers valuable fitness insight, excellent battery lifeCons: The menu system can be clunky, expensiveGarmin's long-made highly advanced fitness trackers that have always done well to satiate the needs of hardcore athletes. With the Forerunner 745, it brings that in-depth approach to a wider audience, providing highly valuable fitness insight and feedback to anyone, regardless of how active they are. The beauty of this watch rests with the advanced data it provides. During workouts, the 745 displays everything from time active and heart rate to distance covered and pace. Each of which is highly useful in the moment if you're interval training or aiming for a certain time on a run or bike ride. It's also quite easy to customize this screen so you have exactly what you want when you want it. Though that in-the-moment date is great, it's what the watch offers after the activity (or between workouts) that's even better. This includes challenging workout recommendations that adapt to your output, the ideal amount of rest you need between activities (which is highly important), and customized training plans. Neither of these is just tacked-on, too, and I found myself gravitating toward them more and more as I tested the watch even though I've always preferred my own workouts to anything pre-written for me. Its tracking accuracy is also highly precise, and I found it to be similar to that of Suunto's 7 and the Apple Watch Series 6. It syncs with GPS rather quickly and would consistently produce very similar metrics (both in terms of distance and pace) no matter if I was cycling or running. If there was something to nitpick about the Forerunner 745, it'd be its clunky menu system. Like most Garmin watches, the OS isn't exactly intuitive, though it does get easier the more you use it (as would anything). It's not enough to be a dealbreaker, especially considering how much else this watch does that's superior to most fitness trackers currently available. Best multisport fitness trackerCorosCoros Apex$300.00 FROM REI$299.00 FROM AMAZONThe Apex from Coros is a multisport athlete's dream: It offers in-depth support for a range of activities, it has excellent battery life and a comfortable fit that almost makes you forget you're wearing it.Pros: Long battery life, even while using GPS, multisport functionality that goes beyond just tracking heart rate, comfortable design, great app experience, perfect for triathletes, built-in GPSCons: The screen can be too dim at times, easy to accidentally press the dials to change modesIf you spend much of your active time doing something different from the day before, then the Coros Apex is the fitness tracker you need. It's especially adept at tracking running, biking, and swimming, making it perfect for the budding or seasoned triathlete. But that's not only who the Apex is for; Coros consistently updates the watch's software to add new activities and modes, including sports like snowboarding, gym cardio, and hiking. This only adds to its versatility and the newly added modes do a good job of being accessible and easy to use as soon as they're available. The Apex truly proves its worth for ultrarunners. Thanks to excellent battery life, highly accurate GPS, and a dedicated trail running mode, it's the watch a grab for when I know I'm going to be out for a long run that won't just consist of running on the sidewalk or through my local park. Its comfortable design makes it easy to wear for long periods of time, too, without irritating my wrist or becoming a drag on my running form. Though these are its high points, the Apex does also offer basic fitness tracking capability in the form of heart rate, steps, calories, and so on, so it's not just for advanced athletes. Rather, it's great for anyone looking to spend more time running, biking, or cycling, and who has an inclination to try new activities.Its $300 price point puts it solidly in the middle in terms of other watches featured in this guide but its incredible capability makes it highly worth the expense. How I test fitness trackersAmazon; Alyssa Powell/InsiderEach of the fitness trackers included in this guide went through a series of tests to determine how well they performed across these four categories: Fit & comfort, tracking accuracy, added features, and value. Here's how we considered each category while testing:Fit & comfort: If a fitness tracker isn't comfortable or doesn't fit well, you'll be far less likely to want to wear it very often — and if you don't wear it often, what's the point? Tracker manufacturers also know this, for the most part, so many of the best active wearables feature bands that not only stay comfortable for long periods of time but don't chafe or become bothersome while you sweat. When testing, I looked at everything from how they felt the moment we put them on to whether we noticed any discomfort throughout short and long workout sessions. Tracking accuracy: Testing a fitness tracker's accuracy isn't always straightforward; you can literally wear two different watches and get different GPS readings, pace readings, and so on. So, instead of using a second tracker to test a wearable's accuracy, I would map out how far an exact mile was from my house before running it a few times wearing the same watch. The trackers that ultimately made the cut all produced results that were within no more than .1 miles off. Added features: Testing for this category was straightforward: Did the tracker have any supplemental features outside of just tracking steps, calories burned, or heart rate? This could be anything from extra activities it's capable of logging, the ability to act like a smartwatch and get smartphone notifications, etc. This wasn't a dealbreaker category, however, as trackers aren't defined by their added features — but it is still a nice touch and something that can separate a good tracker from a great one. Value: The value of a fitness tracker isn't just its sticker price but also how valuable it is from a function standpoint to the user. Does it have the features you need? Will it track and compile the data you want it to? Can it actually serve as something that benefits your fitness as opposed to detracting from it? These are all questions you want to consider when shopping to find a tracker's true value. This becomes more of a subjective category when viewed that way but when testing, I still was able to judge how well the tracker's held up across each of the above categories — and still considered how much they cost, as well. FAQsIs it worth getting a fitness tracker?Yes, so long as you actually use the tracker, and the data it collects, to inform your fitness goals. This means understanding what the fitness tracker you buy offers, and opting for one that offers insight into what you specifically need. For instance, if you just need something to motivate you to increase your daily activity, you shouldn't buy a full-featured watch like the Coros Apex or Suutno 7. Something like the Apple Watch or Fitbit's Versa 3 would be better suited to your lifestyle.And although there's nothing wrong with wearing a fitness tracker to only keep tabs on your daily steps or calories burned, that information it accrues can be vital for anyone who wants to develop a daily, weekly, or monthly fitness routine.The term "worth" as it applies to fitness wearables is relative to how exactly that information is used and who is using it. You first need to decide how you intend to use a fitness watch to truly determine how worthwhile it can be. What do fitness trackers do?Fitness trackers monitor and accrue a variety of activity data such as the number of steps a wearer takes each day, how many calories they've burned, and the flights of stairs they've climbed, among many others.Basic fitness trackers often offer tracking for just those listed above while more advanced wearables, and fitness smartwatches, provide a slew of advanced features such as workout tracking (running, cycling, weight lifting, etc.), heart beat monitoring, smartphone notifications, and more. Some trackers even have compatible smartphone apps that centralize the data it collects, allowing users to chart their progress over time via a dashboard or activity calendar. What are the pros and cons of fitness trackers?Deciding whether the pros of a fitness tracker outweigh its cons ultimately comes down to how you intend to use it. If you plan on being routinely active and using the data it collects to develop and maintain a fitness routine, then it can be extremely beneficial. However, if you don't ever look at the amassed data or buy a watch that has too many features you'll never use, then it will surely become an expensive digital timepiece that tracks fitness data for no reason. Fitness trackers are powerful tools that can offer deep insight into one's health profile — but they can also be quite expensive. This is why it's important to not only figure out how you want to use the watch before you buy one but to research which watch is best fit for your lifestyle and your goals. What should I look for in a fitness tracker?Those looking for a device dedicated to tracking daily activity, workouts, and sleep have a vast number of choices even without including members of the smartwatch family. Here's what to consider:Comfort and design: Since you'll wear the tracker daily (even to bed for sleep tracking), comfort is a high priority. If it's not comfortable, you won't want to wear it; plain and simple. The same goes for design. If you have a small wrist, you may want a tracker with a sleek, understated look. Fitness trackers come in all shapes and sizes, so you'll be able to find one that suits your style.Features: If you're looking for a no-frills fitness tracker, then one that only tracks steps and your sleep habits may suffice. However, if you work out often or want insight into how your activity impacts your overall health, a more advanced tracker with a heart rate monitor or built-in GPS may be the one for you.You should also consider the types of workouts you like to do. For example, if you're a swimmer, waterproofing is a must. If you're just starting a new fitness routine, then a device that coaches you and gives you goals to work towards may provide the extra motivation you need.App experience: Most fitness trackers are designed to work in tandem with your smartphone, syncing the data collected with a downloaded application. This allows you to gain even more insight into your health and save the information collected to track your progress over time.Unfortunately, not all companion apps are that effective and you may find there are some experiences you prefer over others. It's important to choose a fitness tracker that gives you a good app experience. Easy navigation and compatibility with your phone's operating system are a must.Read the original article on Business Insider.....»»

Category: topSource: businessinsiderMay 3rd, 2022

AvalonBay Communities (AVB) Q1 FFO In Line, Revenues Miss

AvalonBay Communities (AVB) witnesses lackluster first-quarter performance as the top line lags estimates. AvalonBay Communities, Inc.’s AVB first-quarter 2022 core funds from operations (FFO) per share of $2.26 matched the Zacks Consensus Estimate.However, total revenues of $613.9 million lagged the consensus estimate of $615.4 million.On a year-over-year basis, core FFO per share increased 15.9% and total revenues grew 11.4%.The first-quarter results reflected a year-over-year increase in same-store residential revenues, partially offset by rising operating expenses.The collected residential revenues fell to 94.9% as of Mar 31, 2022, from 95.3% reported at the end of Dec 31, 2021.Quarter in DetailIn the reported quarter, the same-store residential rental revenues on a cash basis increased 8.5% year over year to $540.7 million. Same-store operating expenses rose 4.7% to $169.6 million, while the same-store residential net operating income (NOI) increased 10.3% to $371.1 million.Same-store average rental rates grew from $2,588 as of Dec 31, 2021, to $2,635 as of Mar 31, 2022. Same-store economic occupancy marginally rose from 96.2% to 96.4% sequentially.As of Mar 31, 2022, AvalonBay had 16 consolidated development communities under construction (expected to contain 4,903 apartment homes and 39,000 square feet of commercial space). The estimated total capital cost of these development communities at completion is $2.05 billion.Portfolio ActivityDuring the first quarter, AVB acquired Avalon Flatirons for $95 million. This is a wholly-owned operating community containing 207 apartment homes and 16,000 square feet of commercial space located in Lafayette, CO.AvalonBay sold three wholly-owned operating communities containing 588 apartment homes for $235 million in the reported quarter. The properties include Avalon West Long Branch in West Long Branch, NJ, Avalon Ossining in Ossining, NY and Avalon East Norwalk in Norwalk, CT.Balance SheetAVB had $457.4 million of unrestricted cash and cash in escrow as of Mar 31, 2022. As of on the same date, the company did not have any borrowings outstanding under its $1.75-billion unsecured credit facility.Total debt principal was $8.1 million at the end of the first quarter. Additionally, its annualized net debt-to-core EBITDAre for the January-March period was five times and the unencumbered NOI for 2022 was 95%.OutlookFor second-quarter 2022, AvalonBay expects core FFO per share to lie in the range of $2.25-$2.37. The Zacks Consensus Estimate for the same is pegged at $2.34.For 2022, AVB expects core FFO per share between $9.38 and $9.78, with the mid-point at $9.58. The Zacks Consensus Estimate for the same is $9.55. Management expects same-store residential revenues to lie between 8.25% and 9.75%.AvalonBay Communities currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.AvalonBay Communities, Inc. Price, Consensus and EPS Surprise AvalonBay Communities, Inc. price-consensus-eps-surprise-chart | AvalonBay Communities, Inc. QuotePerformance of Notable REITsEquity Residential’s EQR reported first-quarter 2022 normalized FFO per share of 77 cents, missing the Zacks Consensus Estimate of 80 cents. Rental income came in at $653.3 million, lagging the consensus mark of $658.07 million. Nonetheless, on a year-over-year basis, normalized FFO per share improved 13.2%, while rental income climbed 9.3%.EQR’s normalized FFO grew based on strong lease demand, while same-store revenue witnessed growth driven by strong physical occupancy and improvement in pricing power.Mid-America Apartment Communities, Inc. MAA reported first-quarter 2022 core FFO per share of $1.97, surpassing the Zacks Consensus Estimate of $1.92. The reported number increased 20.1% year over year.The rental and other property revenues came in at $476.1 million, outpacing the Zacks Consensus Estimate of $474.20 million. The reported figure was 12% higher than the previous-year quarter’s $425 million.MAA’s quarterly results were driven by an increase in the average effective rent per unit for the same-store portfolio. The average physical occupancy for the same-store portfolio also increased year over year.Alexandria Real Estate Equities, Inc. ARE reported first-quarter 2022 adjusted FFO per share of $2.05, surpassing the Zacks Consensus Estimate of $2.00. The FFO per share also compared favorably with the year-ago quarter’s $1.91.Rental revenues in the quarter were $615.1 million. Also, rental revenues climbed 28.2% from the prior-year quarter’s $479.8 million.Alexandria witnessed continued healthy leasing activity and rental rate growth during the quarter.Note: Anything related to earnings presented in this write-up represent funds from operations (FFO) — a widely used metric to gauge the performance of REITs. 7 Best Stocks for the Next 30 Days Just released: Experts distill 7 elite stocks from the current list of 220 Zacks Rank #1 Strong Buys. They deem these tickers "Most Likely for Early Price Pops." Since 1988, the full list has beaten the market more than 2X over with an average gain of +25.4% per year. So be sure to give these hand-picked 7 your immediate attention. See them now >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report AvalonBay Communities, Inc. (AVB): Free Stock Analysis Report Equity Residential (EQR): Free Stock Analysis Report MidAmerica Apartment Communities, Inc. (MAA): Free Stock Analysis Report Alexandria Real Estate Equities, Inc. (ARE): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research.....»»

Category: topSource: zacksApr 29th, 2022

Cashbox Ventures Ltd. (Formerly Wikileaf Technologies Inc.) Reports Financial Results for the 2021 Fiscal Year

VANCOUVER, British Columbia, April 28, 2022 (GLOBE NEWSWIRE) -- Cashbox Ventures Ltd. (the "Company") (CSE:CBOX) announces its financial results for the 2021 fiscal year. For complete details of the consolidated audited financial statements and accompanying management's discussion and analysis for the year ended December 31, 2021, please see the Company's filings on SEDAR at www.sedar.com The Company made a significant change to its operations in September 2021 by selling all of its digital online platform assets to publicly traded Fire & Flower (TSX:FAF) and its wholly owned subsidiary HiFyre. Based on strategic review and analysis it was determined that Fire & Flower's growing retail presence, alongside the HiFyre technology stack and the resources and expertise was the best path for the platform to reach its full potential and realizable shareholder value. Operational and Financial Highlights Sale of digital assets to Fire & Flower for $7.5 million Financial Results: Net earnings of $2.1 million for 2021, up from a $3.6 million loss in 2020 Company Restructuring: Operating expenses of $1.85 million in 2021, down from $3.7 million in 2020 Mr. Cruise stated "The Cannabis market has become hyper competitive. While management believes in the sector long term, a material change was warranted for the Company. We believe our intermediate objectives were achieved through the asset sale to Fire & Flower, a reputable leader within the cannabis space and remain committed to searching out and evaluating opportunities that can create shareholder value." The Company ...Full story available on Benzinga.com.....»»

Category: earningsSource: benzingaApr 28th, 2022

Dril-Quip, Inc. Announces First Quarter 2022 Results

HOUSTON, April 28, 2022 (GLOBE NEWSWIRE) -- Dril-Quip, Inc. (NYSE:DRQ), (the "Company" or "Dril-Quip") today reported operational and financial results for the first quarter of 2022. Results for the first quarter of 2022 included: Revenue of $83.1 million for the first quarter of 2022, an increase of $5.2 million from the fourth quarter of 2021 on higher subsea products revenue; Booked $66.5 million of new orders during the first quarter of 2022, including approximately $17 million in product and service orders for projects in Brazil; Reported a net loss of $8.9 million, or a $0.26 loss per share, an improvement of $54.5 million, or $1.55 per share compared to the fourth quarter of 2021, due to increased revenue and lower restructuring and other charges Generated adjusted EBITDA of $3.2 million, or 3.8% of revenue; an increase of $2.6 million from the fourth quarter of 2021; First quarter net cash used by operating activities of $10.9 million and free cash flow of negative $13.0 million, inclusive of $2.1 million of capital expenditures Repurchased $5.8 million of shares at an average price of $21.20 during the first quarter of 2022. Jeff Bird, Dril-Quip's President and Chief Executive Officer, commented, "We continue to see a strengthening market that is supportive of customer activity and an increasing demand for our products and services. Orders this quarter represent the second straight quarter of strengthening bookings we saw off the pandemic lows of 2020 and most of 2021. This, along with our continued focus on our strategic growth pillars of peer-to-peer collaboration, downhole tools expansion and e-Series technology position us well for our expected 20% year-over-year growth in orders. The customer response from our Aker Solutions collaboration agreement has been strong, and we are beginning to align and dedicate resources to this effort that we expect will be an emerging revenue stream for us in the coming years. These strong order trends started to translate into revenue in the first quarter as revenue was up by approximately 7% sequentially. We would expect this trend to continue and ultimately drive revenues up 10% for the full year 2022 compared to 2021." "As discussed in our annual earnings call, we also continue to make progress in the strategy of creating product line teams that are organized and focused on end-to-end customer and financial execution of their respective product line and a smaller, leaner, more sustainable footprint. We expect this new model to create a more customer-focused organization that drives both operational and financial excellence. We are already beginning to realize the benefits of this more transparent organizational structure in several areas including manufacturing, supply chain, and sales. I look forward to discussing the timing and size of these benefits in the coming quarters." "As we look forward in 2022, we remain confident in our ability to achieve the goals we set forth during our annual earnings call. Bookings, revenue and adjusted EBITDA will be the primary focus of our team. We believe our strategic path and internal continuous improvement mindset coupled with our strong balance sheet will lead to a stronger Dril-Quip in the coming quarters and years for the benefit of our shareholders and stakeholders." In conjunction with today's release, the Company posted a new investor presentation entitled "First Quarter 2022 Supplemental Earnings Information" to its website, www.dril-quip.com, on the "Events & Presentations" page under the Investors tab. Investors should note that Dril-Quip announces material financial information in Securities and Exchange Commission ("SEC") filings, press releases and public conference calls. Dril-Quip may use the Investors section of its website (www.dril-quip.com) to communicate with investors. It is possible that the financial and other information posted there could be deemed to be material information. Information on Dril-Quip's website is not part of this release. Operational and Financial Results Revenue, Cost of Sales and Gross Operating Margin Consolidated revenue for the first quarter of 2022 was $83.1 million, up $5.2 million from the fourth quarter of 2021 and up $1.9 million compared to the first quarter of 2021. The sequential increase was primarily a result of higher subsea product volumes, primarily fabricated joints, partially offset by a decrease in downhole tools product and service revenues. The increase in revenue year-over-year was driven by higher leasing revenues across most regions related to improved subsea rental tool utilization due to increased customer activity. Cost of sales for the first quarter of 2022 was $64.0 million, an increase of $2.8 million from the fourth quarter of 2021 and an increase of $7.2 million compared to the prior year. Gross operating margin for the first quarter of 2022 was 23.0%, an increase from 21.5% in the fourth quarter of 2021 and a decrease from 30.1% in the first quarter of 2021. The increase in gross margins compared to Q4 2021 was mostly attributed to increased absorption of fixed overhead from higher product revenues, partially offset by a decrease in service revenues and unfavorable product mix. Selling, General and Administrative Expenses Selling, general and administrative ("SG&A") expenses for the first quarter of 2022 were $22.4 million, a decrease of $8.2 million compared to the fourth quarter of 2021 and a decrease of $7.2 million compared to the first quarter of 2021. The sequential decrease in SG&A was due to a reduction in expense related to the executive separation agreement, lower incentive compensation accrual and a decrease in reserve for bad debt. The year-over-year decrease in SG&A is primarily attributable to lower legal expenses in connection with the FMC Technologies, Inc. lawsuit, a decrease in professional fees and the non-recurrence of expense associated with the importation tax settlement under the Brazilian tax amnesty program. Engineering and product development expenses were down $0.2 million sequentially and $0.4 million lower than the first quarter of 2021 due to lower research and development expenses as a result of the completion of investments in certain strategic projects. Net Loss, Adjusted EBITDA and Free Cash Flow For the first quarter of 2022, the Company reported a net loss of $8.9 million, or a $0.26 loss per share. Adjusted EBITDA totaled $3.2 million for the first quarter of 2022 compared to $0.6 million for the fourth quarter of 2021, representing incremental margins of 48.9% quarter over quarter. Adjusted EBITDA for the first quarter of 2022 was down $4.9 million compared to the first quarter of 2021. The improvement in adjusted EBITDA sequentially can be attributed to increased revenues from subsea products. The decrease in adjusted EBITDA year-over-year can be mostly attributed to lower gross margins from unfavorable revenue mix, primarily lower margin subsea products contribution and a decrease in downhole tools product and service revenue. Net cash used by operations was $10.9 million and free cash flow was a negative $13.0 million for the first quarter of 2022. This decrease from the previous quarter was primarily driven by seasonal cash tax payments and short-term incentive compensation, partially offset by a decrease in working capital. Capital expenditures in the first quarter of 2022 were approximately $2.1 million, flat compared to the fourth quarter of 2021. The Company expects that capital expenditures will increase throughout the remainder of 2022 for rentals tools to support upcoming projects in Latin America and investments in information technology. Share Repurchases For the three-month period ended March 31, 2022, the Company purchased 273,629 shares under its share repurchase plan at an average price of $21.20 per share, totaling $5.8 million and retired such shares. The Company has purchased approximately $82 million of the $200 million currently authorized by the Board of Directors. The Company continues to evaluate the amount and timing of its share repurchases as part of the Company's overall capital allocation strategy. About Dril-Quip Dril-Quip is a developer, manufacturer and provider of highly engineered equipment, service and innovative technologies for use in the energy industry. Forward-Looking Statements Statements contained herein relating to future operations and financial results that are forward-looking statements, including those related to market conditions, anticipated project bookings, expected timing of completing strategic restructuring, anticipated timing of delivery of new orders, anticipated revenues, costs, cost synergies and savings, possible acquisitions, new product offerings and related revenues, share repurchases and expectations regarding operating results, are based upon certain assumptions and analyses made by the management of the Company in light of its experience and perception of historical trends, current conditions, expected future developments and other factors. These statements are subject to risks beyond the Company's control, including, but not limited to, the impact of the ongoing COVID-19 pandemic, the effects of actions taken by third parties, including, but not limited to, governmental authorities, customers, contractors and suppliers, in response to the COVID-19 pandemic, the impact of actions taken by the Organization of Petroleum Exporting Countries (OPEC) and non-OPEC nations to adjust their production levels, the general volatility of oil and natural gas prices and cyclicality of the oil and gas industry, declines in investor and lender sentiment with respect to, and new capital investments in, the oil and gas industry, project terminations, suspensions or scope adjustments to contracts, uncertainties regarding the effects of new governmental regulations, the Company's international operations, operating risks, the impact of our customers and the global energy sector shifting some of their asset allocation from fossil-fuel production to renewable energy resources, and other factors detailed in the Company's public filings with the SEC. Investors are cautioned that any such statements are not guarantees of future performance and actual outcomes may vary materially from those indicated. Non-GAAP Financial Information Adjusted Net Income (Loss), Adjusted Diluted EPS, Free Cash Flow and Adjusted EBITDA are non-GAAP measures. Adjusted Net Income (Loss) and Adjusted Diluted EPS are defined as net income (loss) and earnings per share, respectively, excluding the impact of foreign currency gains or losses as well as other significant non-cash items and certain charges and credits. Free Cash Flow is defined as net cash provided by operating activities less cash used in the purchase of property, plant and equipment. Adjusted EBITDA is defined as net income excluding income taxes, interest income and expense, depreciation and amortization expense, stock-based compensation, non-cash gains or losses from foreign currency exchange rate changes as well as other significant non-cash items and other adjustments for certain charges and credits. The Company believes that these non-GAAP measures enable it to evaluate and compare more effectively the results of our operations period over period and identify operating trends by removing the effect of its capital structure from its operating structure. In addition, the Company believes that these measures are supplemental measurement tools used by analysts and investors to help evaluate overall operating performance, ability to pursue and service possible debt opportunities and make future capital expenditures. Adjusted Net Income (Loss), Adjusted EBITDA and Free Cash Flow do not represent funds available for our discretionary use and are not intended to represent or to be used as a substitute for net income or net cash provided by operating activities, as measured under U.S. generally accepted accounting principles ("GAAP"). See "Unaudited Non-GAAP Financial Measures" below for additional information concerning non-GAAP financial information, including a reconciliation of the non-GAAP financial information presented in this press release to the most directly comparable financial information presented in accordance with GAAP. Non-GAAP financial information supplements and should be read together with, and is not an alternative or substitute for, the Company's financial results reported in accordance with GAAP. Because non-GAAP financial information is not standardized, it may not be possible to compare these financial measures with other companies' non-GAAP financial measures. Investor Relations Contact Blake Holcomb, Director of Investor Relations and Corporate Planning(713) 939-7711Blake_Holcomb@dril-quip.com                         Dril-Quip, Inc. Comparative Condensed Consolidated Income Statement (Unaudited)               Three months ended   March 31, 2022   December 31, 2021   March 31, 2021   (In thousands, except per share data) Revenues:           Products $ 55,642     $ 48,694     $ 55,583   Services   17,499       19,380       17,667   Leasing   9,996       9,838       7,989   Total revenues   83,137       77,912       81,239   Costs and expenses:           Cost of sales   63,995       61,197       56,787   Selling, general and administrative   22,393       30,620       29,558   Engineering and product development   3,676       3,834       4,037   Restructuring and other charges   32       52,913    .....»»

Category: earningsSource: benzingaApr 28th, 2022

Advanced Micro Devices Is a Solid Buy Below $100

InvestorPlace - Stock Market News, Stock Advice & Trading Tips Buy AMD stock before the company announces results next week. It will take the stock higher if the company beats expectations. The post Advanced Micro Devices Is a Solid Buy Below $100 appeared first on InvestorPlace. More From InvestorPlace Stock Prodigy Who Found NIO at $2… Says Buy THIS It doesn’t matter if you have $500 in savings or $5 million. Do this now. Get in Now on Tiny $3 ‘Forever Battery’ Stock Early Bitcoin Millionaire Reveals His Next Big Crypto Trade “On Air”.....»»

Category: topSource: investorplaceApr 28th, 2022

AvalonBay Communities (AVB) Meets Q1 FFO Estimates

AvalonBay (AVB) delivered FFO and revenue surprises of 0% and 0.24%, respectively, for the quarter ended March 2022. Do the numbers hold clues to what lies ahead for the stock? AvalonBay Communities (AVB) came out with quarterly funds from operations (FFO) of $2.26 per share, in line with the Zacks Consensus Estimate. This compares to FFO of $1.95 per share a year ago. These figures are adjusted for non-recurring items.A quarter ago, it was expected that this apartment building owner would post FFO of $2.24 per share when it actually produced FFO of $2.27, delivering a surprise of 1.34%.Over the last four quarters, the company has surpassed consensus FFO estimates three times.AvalonBay, which belongs to the Zacks REIT and Equity Trust - Residential industry, posted revenues of $613.93 million for the quarter ended March 2022, missing the Zacks Consensus Estimate by 0.24%. This compares to year-ago revenues of $551.14 million. The company has topped consensus revenue estimates two times over the last four quarters.The sustainability of the stock's immediate price movement based on the recently-released numbers and future FFO expectations will mostly depend on management's commentary on the earnings call.AvalonBay shares have lost about 3.3% since the beginning of the year versus the S&P 500's decline of -12.4%.What's Next for AvalonBay?While AvalonBay has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's FFO outlook. Not only does this include current consensus FFO expectations for the coming quarter(s), but also how these expectations have changed lately.Empirical research shows a strong correlation between near-term stock movements and trends in estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of estimate revisions.Ahead of this earnings release, the estimate revisions trend for AvalonBay: mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.It will be interesting to see how estimates for the coming quarters and current fiscal year change in the days ahead. The current consensus FFO estimate is $2.34 on $628.84 million in revenues for the coming quarter and $9.55 on $2.54 billion in revenues for the current fiscal year.Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, REIT and Equity Trust - Residential is currently in the top 24% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.Another stock from the same industry, UMH Properties (UMH), has yet to report results for the quarter ended March 2022. The results are expected to be released on May 4.This real estate investment trust is expected to post quarterly earnings of $0.21 per share in its upcoming report, which represents a year-over-year change of +5%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.UMH Properties' revenues are expected to be $44.97 million, up 4.3% from the year-ago quarter. Zacks Names "Single Best Pick to Double" From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all. It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time. This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.Free: See Our Top Stock and 4 Runners Up >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report AvalonBay Communities, Inc. (AVB): Free Stock Analysis Report UMH Properties, Inc. (UMH): Free Stock Analysis Report To read this article on Zacks.com click here......»»

Category: topSource: zacksApr 27th, 2022

The Big Dramatic Pullback In Tesla

In his Daily Market Notes report to investors, while commenting on Tesla Inc (NASDAQ:TSLA), Louis Navellier wrote: Behind Tesla Pullback Microsoft posted better than expected earnings after the close on Tuesday, which should help to firm up the FAANG stocks. Google posted 23% annual revenue growth, but missed analyst estimates a bit due to slowing YouTube […] In his Daily Market Notes report to investors, while commenting on Tesla Inc (NASDAQ:TSLA), Louis Navellier wrote: Behind Tesla Pullback Microsoft posted better than expected earnings after the close on Tuesday, which should help to firm up the FAANG stocks. Google posted 23% annual revenue growth, but missed analyst estimates a bit due to slowing YouTube growth to a 14% annual pace. However, Facebook/Meta Platforms continues to struggle with its operating margins and may remain a drag on FAANG. .first{clear:both;margin-left:0}.one-third{width:31.034482758621%;float:left;margin-left:3.448275862069%}.two-thirds{width:65.51724137931%;float:left}form.ebook-styles .af-element input{border:0;border-radius:0;padding:8px}form.ebook-styles .af-element{width:220px;float:left}form.ebook-styles .af-element.buttonContainer{width:115px;float:left;margin-left: 6px;}form.ebook-styles .af-element.buttonContainer input.submit{width:115px;padding:10px 6px 8px;text-transform:uppercase;border-radius:0;border:0;font-size:15px}form.ebook-styles .af-body.af-standards input.submit{width:115px}form.ebook-styles .af-element.privacyPolicy{width:100%;font-size:12px;margin:10px auto 0}form.ebook-styles .af-element.privacyPolicy p{font-size:11px;margin-bottom:0}form.ebook-styles .af-body input.text{height:40px;padding:2px 10px !important} form.ebook-styles .error, form.ebook-styles #error { color:#d00; } form.ebook-styles .formfields h1, form.ebook-styles .formfields #mg-logo, form.ebook-styles .formfields #mg-footer { display: none; } form.ebook-styles .formfields { font-size: 12px; } form.ebook-styles .formfields p { margin: 4px 0; } Get The Full Ray Dalio Series in PDF Get the entire 10-part series on Ray Dalio in PDF. Save it to your desktop, read it on your tablet, or email to your colleagues (function($) {window.fnames = new Array(); window.ftypes = new Array();fnames[0]='EMAIL';ftypes[0]='email';}(jQuery));var $mcj = jQuery.noConflict(true); Q1 2022 hedge fund letters, conferences and more Amazon and Apple will round out the FAANG earnings announcements this week. I will be especially interested in Apple’s comments on the Foxconn factories in China that make its products after it announces its latest quarterly results. The big dramatic pullback in Tesla has a little more behind the speculations that Elon Musk might have to sell some of his shares to finance his successful $44B bid to take Twitter private. Tesla's profitability comes from its Shanghai plant where they make cars with iron phosphate batteries. It is imperative that Tesla gets that factory up and running. Otherwise, it is gonna crimp its second-quarter results.  Energy stocks, fertilizer, shipping, and food stocks are expected to release record results. Strong April Finish? Interestingly, NASDAQ has corrected 10% month to date many times. And every single time, it has gone up in the last three days of the month. So I'm expecting the market to finish somewhat on a positive note. April is a strong month historically.  Soft Landing There is mounting evidence that inflation peaked in March as crude oil and other commodity prices moderate. The 10-year Treasury bond yield has also been noticeably weak this week, which is raising hope that market rates may have peaked near-term.  The National Association of Realtors on Wednesday announced that pending home sales declined 1.2% in March as all four major regions it surveyed reported a decline.  Between tight inventory, higher mortgage rates, and affordability issues, pending home sales have declined for the past five months and have declined 8.2% compared to a year ago.  This is an example of a “soft landing” that the Fed is striving to engineer. Finally, the Atlanta Fed on Tuesday cut its first-quarter GDP estimate to a 0.4% annual pace.  The consensus of most economists ranges from a -0.2% to 2% annual pace, so the Atlanta Fed is currently below the median estimate. Coffee Beans U.S.-based crypto holders were able to generate $47 billion from trading Bitcoin and Co. last year. With estimated profits of $8.2 billion, $5.8 billion, and $5.8 billion, respectively, countries like the United Kingdom, Germany, and Japan are still in a different league than the United States. Source: Statista. See the full story here.   Updated on Apr 27, 2022, 4:15 pm (function() { var sc = document.createElement("script"); sc.type = "text/javascript"; sc.async = true;sc.src = "//mixi.media/data/js/95481.js"; sc.charset = "utf-8";var s = document.getElementsByTagName("script")[0]; s.parentNode.insertBefore(sc, s); }()); window._F20 = window._F20 || []; _F20.push({container: 'F20WidgetContainer', placement: '', count: 3}); _F20.push({finish: true});.....»»

Category: blogSource: valuewalkApr 27th, 2022

Robinhood drops after the popular trading platform announces it is cutting 9% of staff after period of rapid growth

The cuts should "improve efficiency, increase our velocity," said Robinhood CEO Vlad Tenev. The firm grew rapidly during the pandemic. Robinhood co-founders Baiju Bhatt and Vlad Tenev attend Robinhood's IPO Listing Day on July 29, 2021, in New York City.Cindy Ord/Getty Images for Robinhood Robinhood shares fell Wednesday after the retail trading app said it's cutting hundreds of jobs.  The company will let go of more than 300 workers after headcount swelled to around 3,800 from 700 between 2020 and 2021.  Robinhood's move was announced ahead of the release of its first-quarter earnings report.  Shares of Robinhood fell Wednesday following plans by the trading platform to reduce its workforce and recalibrate after the pandemic fueled a boom in trading by amateur investors. Stock in the company valued at around $9 billion fell as much as 5.2% to $9.48 premarket, trading around all-time lows. The company went public in July 2021 and closed its first trading session at $34.82. Robinhood CEO and co-founder Vlad Tenev in a blog post late Tuesday said it would let go of approximately 9% of its full-time employees. He said its expanded its staff to around 3,800 from 700 between 2020 and 2021. The layoffs put the reductions at more than 300 workers. "This rapid headcount growth has led to some duplicate roles and job functions, and more layers and complexity than are optimal," said Tenev in describing a period of "hyper-growth" accelerated by COVID lockdowns, low-interest rates, and economic stimulus checks sent to millions of Americans by the federal government.News of the jobs cuts arrived before Robinhood released its first-quarter earnings report on Thursday. Analysts polled by FactSet expect the company to post a narrower per-share loss of $0.38 a share on a 32% revenue decline to $355 million from $522 million a year earlier. The stock dropped right after the release of its fourth-quarter results in January as Robinhood forecast first-quarter revenue of "less than $340 million," which was lower than Wall Street's average projection of $448 million.Read the original article on Business Insider.....»»

Category: personnelSource: nytApr 27th, 2022