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NEWS_300 | Presenting Companies to Host 25 Minute Presentations Followed by Question-and-Answer Session; Conference Open to all Retail and Institutional Investors
NEW YORK, Jan. 23, 2023 (GLOBE NEWSWIRE) -- Diamond Equity Research, a leading small-capitalization equity research and conference provider, will host its Spotlight Emerging Growth Invitational Investor Conference on January 25, 2023.
The conference, which is open to all retail and institutional investors, will consist of a series of twenty-five-minute presentations by public company management teams – followed by an analyst-moderated question-and-answer session.
“The Diamond Equity Research Emerging Growth Invitational offers a unique opportunity for investors to evaluate under the radar public companies and ask relevant questions directly to management in a streamlined, convenient format – focusing on a select group of businesses as compared to larger ‘factory’ conferences,” said Hunter Diamond, CFA, CEO of Diamond Equity Research. “Our conferences are open to all investors, allowing investors to obtain meaningful access to management teams and to stay apprised on key updates around their current and prospective investments.”
“I would encourage all investors to register in advance on our conference website here, or at the company-specific links provided below. I look forward to a day of productive presentations and discussions with under-the-radar management teams from various industries,” concluded Diamond.
Virtual Agenda – Wednesday, January 25th, 2023 (EST)
Contact
Diamond Equity Research is a leading provider of in-depth research and analysis on global small capitalization equities, including company-sponsored research to leading investment platforms, the Diamond Equity Research website and more. Diamond Equity’s quarterly investor conferences enable meaningful interaction between the firm’s investor base and leading small-cap issuers. For additional questions, contact the Diamond Equity Research conference team conferences@diamondequityresearch.com
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Disclosures: Statements in these presentations may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, goals, assumptions or future events or performance are not statements of historical fact and may be “forward looking statements”. Such statements are based on expectations, estimates and projections at the time the statements are made and involve many risks and uncertainties such as competitive factors, technological development, market demand and a particular company’s ability to obtain new contracts and accurately estimate net revenues due to variability in size, scope and duration of projects, and internal issues, which could cause actual results or events to differ materially from those presently anticipated. The purpose of this conference and recording of event is to extend visibility for these companies and is in no way a recommendation to buy, sell or hold the respective securities. The accuracy or completeness of any material provided is not guaranteed and unless otherwise indicated, is provided by the companies themselves without Diamond Equity Research’s oversight and/or endorsement. Diamond Equity Research and/or the Diamond Equity Research Emerging Growth and Income Fund LP may have positions in various presenting companies and may change or update its position without notice and without regard to any presented material by company. Conference participants are reminded to do their own due diligence when researching any companies attending the investment conference or prior to making any investment decisions. Investing in micro capitalization and small capitalization securities is highly speculative with many risks, including a complete loss of one’s principal. Various companies in this press release have paid to present at our emerging growth conference and/or for research services. Specific 17(b) payment disclosures can be found on https://www.diamondequityresearch.com/disclosures/.
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NEWS_301 | RALEIGH, N.C., January 23, 2023--(BUSINESS WIRE)--Vontier Corporation (NYSE: VNT), a leading global provider of critical technologies and solutions to the mobility ecosystem, will release its fourth quarter and full year 2022 earnings results on Thursday, February 16, 2023, and will hold a conference call the same day at 8:00 a.m. ET.
The call can be accessed via webcast or by dialing +1 800-420-1271 (U.S. callers) or +1 785-424-1226 (international callers), along with the conference ID: 2403495 or passcode: 76188. Webcast information and related conference call materials will be made available on the "Events and Presentations" section of Vontier’s investor relations website: (investors.vontier.com) prior to the call.
A replay of the webcast will be available at the same location shortly after the conclusion of the presentation, or by dialing +1 800-934-3335 (U.S callers) or +1 402-220-1142 (International callers), conference ID: 2403495.
ABOUT VONTIER
Vontier (NYSE: VNT) is a global industrial technology company at the forefront of solving next-gen mobility challenges. Guided by the Vontier Business System and an unwavering commitment to our customers, Vontier delivers smart, sustainable solutions for the road ahead. To learn more, visit www.vontier.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20230123005783/en/
Contacts
Ryan Edelman
Vice President, Investor Relations
+1 (984) 238-1929
ryan.edelman@vontier.com |
NEWS_302 | In the latest trading session, Verona Pharma PLC American Depositary Share (VRNA) closed at $22.53, marking a -0.75% move from the previous day. This change lagged the S&P 500's 1.19% gain on the day. Elsewhere, the Dow gained 0.76%, while the tech-heavy Nasdaq added 0.29%.
Heading into today, shares of the company had gained 3.72% over the past month, outpacing the Medical sector's gain of 0.84% and lagging the S&P 500's gain of 4.06% in that time.
Investors will be hoping for strength from Verona Pharma PLC American Depositary Share as it approaches its next earnings release. The company is expected to report EPS of -$0.22, up 45% from the prior-year quarter.
Investors should also note any recent changes to analyst estimates for Verona Pharma PLC American Depositary Share. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Verona Pharma PLC American Depositary Share is holding a Zacks Rank of #3 (Hold) right now.
The Medical - Biomedical and Genetics industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 74, which puts it in the top 30% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
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You can find more information on all of these metrics, and much more, on Zacks.com.
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
Verona Pharma PLC American Depositary Share (VRNA) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research |
NEWS_303 | Vishay Intertechnology, Inc.
Requiring 63 % Less PCB Space Than the PowerPAIR 6x5F Package, Space-Saving Devices Reduce Component Counts and Simplify Designs
MALVERN, Pa., Jan. 23, 2023 (GLOBE NEWSWIRE) -- Vishay Intertechnology, Inc. (NYSE: VSH) today introduced two new 30 V symmetric dual n-channel power MOSFETs that combine high and low side TrenchFET® Gen V MOSFETs in a single 3.3 mm by 3.3 mm PowerPAIR® 3x3FS package. For power conversion in computing and telecom applications, the Vishay Siliconix SiZF5300DT and SiZF5302DT increase efficiency while reducing component counts and simplifying designs.
The dual MOSFETs released today can be used in place of two discrete devices in the PowerPAK® 1212 package — saving 50 % board space — while offering a 63 % smaller footprint than dual MOSFETs in the PowerPAIR 6x5F. The MOSFETs provide designers with space-saving solutions for synchronous buck converters, point of load (POL) conversion, and DC/DC modules in laptops with USB-C power delivery, servers, DC cooling fans, and telecom equipment. In these applications, the high and low side MOSFETs of the SiZF5302DT form an optimized combination for 50 % duty cycles and best in class efficiency, in particular from 1 A to 4 A, while the SiZF5300DT provides an optimized combination for heavy loads in the 12 A to 15 A range.
The SiZF5300DT and SiZF5302DT leverage Vishay’s 30 V Gen V technology for optimal on-resistance and gate charge. The SiZF5300DT provides typical on-resistance of 2.02 mΩ at 10 V and 2.93 mΩ at 4.5 V, while the SiZF5302DT features on-resistance of 2.7 mΩ at 10 V and 4.4 mΩ at 4.5 V. Typical gate charge for the MOSFETs at 4.5 V is 9.5 nC and 6.7 nC, respectively. The resulting ultra low on-resistance times gate charge — a key figure of merit (FOM) for MOSFETs used in power conversion applications — is 35 % lower than that of previous-generation solutions with similar on-resistance. For high frequency switching applications, the result is a 2 % increase in efficiency, allowing for efficiency of 98 % at 100 W.
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Comparison to Previous-Generation Solution
Specification / device number SiZF5302DT
(Gen V) Previous solution
(Gen IV) SiZF5302DT vs. previous solution comparison Package PowerPAIR 3x3FS PowerPAIR 6x5F 63 %↓ V DS (V) 30 30 - R DS(ON) typ.
@ 4.5 V (mΩ) 4.4 (Channel 1)
4.4 (Channel 2) 4.0 (Channel 1)
1.2 (Channel 2) - Q g @ 4.5 V (nC) 6.7 (Channel 1)
6.7 (Channel 2) 11 (Channel 1)
46 (Channel 2) - FOM (mΩ*nC) 29 (Channel 1)
29 (Channel 2) 44 (Channel 1)
54 (Channel 2) 35 % ↓
46 % ↓ Efficiency
@ 20 V IN / 12.5 V OUT /
800 kHZ / 100 W 98% 96% 2 %↑
The devices’ flip-chip technology enhances thermal dissipation, while their unique pin configuration enables a simplified PCB layout and supports shortened switching loops to minimize parasitic inductance. The SiZF5300DT and SiZF5302DT are 100 % Rg- and UIS-tested, RoHS-compliant, and halogen-free.
Device Specification Table:
Part number SiZF5300DT SiZF5302DT V DS (V) 30 30 V GS (V) +16 / -12 +16 / -12 R DS(on) typ. (mΩ) @
10 V 2.02 2.7 4.5 V 2.93 4.4 Q g (Typ.) @ 4.5 V (nC) 9.5 6.7 I D (A) @
T A = 25 °C 125 100 T A = 70 °C 100 80
Samples and production quantities of the SiZF5300DT and SiZF5302DT are available now. Lead time information may be requested from your Vishay sales contact or by email to pmostechsupport@vishay.com.
Vishay manufactures one of the world’s largest portfolios of discrete semiconductors and passive electronic components that are essential to innovative designs in the automotive, industrial, computing, consumer, telecommunications, military, aerospace, and medical markets. Serving customers worldwide, Vishay is The DNA of tech.™ Vishay Intertechnology, Inc. is a Fortune 1,000 Company listed on the NYSE (VSH). More on Vishay at www.Vishay.com.
The DNA of tech™ is a trademark of Vishay Intertechnology. TrenchFET, PowerPAIR, and PowerPAK are registered trademarks of Siliconix incorporated.
Vishay on Facebook: http://www.facebook.com/VishayIntertechnology
Vishay Twitter feed: http://twitter.com/vishayindust
Link to product datasheet:
https://www.vishay.com/ppg?62071 (SiZF5300DT)
https://www.vishay.com/ppg?62055 (SiZF5302DT)
Link to product photo:
https://www.flickr.com/photos/vishay/albums/72177720305382725
For more information please contact:
Vishay Intertechnology
Peter Henrici, +1 408 567-8400
peter.henrici@vishay.com
or
Redpines
Bob Decker, +1 415 409-0233
bob.decker@redpinesgroup.com
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NEWS_304 | CHICAGO, January 23, 2023--(BUSINESS WIRE)--Ventas, Inc. (NYSE: VTR) ("Ventas" or the "Company") today announced that J. Justin Hutchens, Executive Vice President, Senior Housing, has been appointed to the additional role of Chief Investment Officer, effective immediately. In his expanded role, Hutchens will be responsible for Ventas’s capital allocation strategy and execution across the enterprise in addition to his current responsibility for the Company’s Senior Housing portfolio. He will oversee both the Senior Housing and Investments teams and continue to report directly to Ventas Chairman and CEO Debra A. Cafaro.
"Through his exceptional leadership of our Senior Housing business over the past three years, Justin has proven to be an invaluable member of the Ventas executive team. By combining the CIO and EVP, Senior Housing roles, we are streamlining our executive management structure and enhancing the connection between our investment activity and business operations," said Cafaro. "We look forward to growing the Company in our strategic capital allocation priority areas of senior housing and life science, research & innovation, and we are confident that Justin, supported by our deep and experienced Investments team, will continue our long history of value creation."
With more than 25 years of experience in both REITs and senior housing, Hutchens has significant investment and capital allocation expertise and a record of proven success. He has led Ventas’s Senior Housing business since joining the Company in early 2020, with responsibility for more than 800 communities representing nearly half of the Company’s portfolio. Hutchens previously served as President and Chief Investment Officer of HCP (NYSE: PEAK) and Chief Executive Officer and President of National Health Investors (NYSE: NHI). Hutchens joined Ventas from HC-One, the UK’s largest care homes operator with over 325 locations and over 22,000 employees, where he served as Chief Executive Officer from 2017 to 2020.
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"I am honored to take on this expanded role at an exciting time for Ventas," said Hutchens. "Ventas has a long and successful investment track record of value creation across a diverse set of asset classes benefitting all stakeholders. I am excited to combine my operations and investments experience, leverage our Ventas Operational Insights (OI)™ platform of data and experiential insights to inform our senior housing investment activity and deploy additional data analytics capabilities to our life science, research & innovation, medical office and other investment focus areas. I look forward to working with the Ventas Investments team as we grow."
Hutchens will assume the responsibilities of John D. Cobb, who will be leaving the Company. Cobb has agreed to remain at the Company as a strategic advisor through mid-February.
Cafaro continued, "On behalf of Ventas, I would like to extend my gratitude to John for his more than 12 years of service and his impressive contributions to the Company’s success. John played an important role in building our best-in-class investments platform and shaping Ventas’s diversified and high-performing portfolio. We wish him every continued success."
About Ventas
Ventas Inc., an S&P 500 company, operates at the intersection of two large and dynamic industries – healthcare and real estate. Fueled by powerful demographic demand from growth in the aging population, Ventas owns a diversified portfolio of over 1,200 properties in the United States, Canada, and the United Kingdom. Ventas uses the power of its capital to unlock the value of senior living communities; life science, research & innovation properties; medical office & outpatient facilities, hospitals and other healthcare real estate. A globally-recognized real estate investment trust, Ventas follows a successful long-term strategy, proven over more than 20 years, built on diversification of property types, capital sources and industry leading partners, financial strength and flexibility, consistent and reliable growth and industry leading ESG achievements, managed by a collaborative and experienced team dedicated to its stakeholders.
View source version on businesswire.com: https://www.businesswire.com/news/home/20230123005391/en/
Contacts
Media
media@ventasreit.com
(877) 4-VENTAS
Investor Relations
BJ Grant
(877) 4-VENTAS |
NEWS_305 | - The Ox Operator Experience platform uses Vuzix smart glasses, software automation and artificial intelligence to deliver operational excellence
ROCHESTER, N.Y., Jan. 23, 2023 /PRNewswire/ -- Vuzix® Corporation (NASDAQ: VUZI), ("Vuzix" or, the "Company"), a leading supplier of Smart Glasses and Augmented Reality (AR) technology and products, today announced that its Vuzix smart glasses have begun to be deployed by Ox, a Vuzix value added reseller, at one of the world's largest logistics platform providers.
Vuzix M400 smart glasses are lightweight powerful productivity tools for a wide range of user applications. (PRNewsfoto/Vuzix Corporation)
"We're excited to grow our partnership with Vuzix to deliver the benefits of wearable devices. Now more than ever, the largest supply chain companies in the world are turning to human centered automation to increase operational efficiency. Our Operator Experience platform can run on any Vuzix smart glasses to power the future of work for retail and supply chain operations," said Charu Thomas, Founder and CEO of Ox.
"We have been working with Ox for several years and it is great to see them start deploying our smart glasses at a leading firm in the logistics space," said Paul Travers, President and Chief Executive Officer at Vuzix. "Ox is pursuing multiple customer opportunities using our smart glasses at this point and we look forward to their continued success with this customer and other blue chip firms."
About Ox
Ox provides human centered automation for retail and supply chain operations. Founded in 2019, Ox is a software platform that invented human centered automation to deliver the benefits of wearable computing to frontline operations. We enable retail and supply chain enterprises to define the operator experience. A single platform that connects your frontline, so you can design efficient and agile operations. Through configurable, app-based workflows and real-time, operational intelligence, operators are directed with intuitive guidance on any wearable device. Define the operator experience and increase operational efficiency, frontline training, and supply chain capacity by 20%.
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About Vuzix Corporation
Vuzix is a leading supplier of Smart Glasses and Augmented Reality (AR) technologies and products for the consumer and enterprise markets. The Company's products include personal display and wearable computing devices that offer users a portable high-quality viewing experience, provide solutions for mobility, wearable displays and augmented reality. Vuzix holds 274 patents and patents pending and numerous IP licenses in the Video Eyewear field. Moviynt, an SAP Certified ERP SaaS logistics solution provider, is a Vuzix wholly owned subsidiary. The Company has won Consumer Electronics Show (or CES) awards for innovation for the years 2005 to 2023 and several wireless technology innovation awards among others. Founded in 1997, Vuzix is a public company (NASDAQ: VUZI) with offices in Rochester, NY, Oxford, UK, and Tokyo, Japan. For more information, visit the Vuzix website, Twitter and Facebook pages.
Forward-Looking Statements Disclaimer
Certain statements contained in this news release are "forward-looking statements" within the meaning of the Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. Forward looking statements contained in this release relate to Vuzix smart glasses, our business relationship and future opportunities with Ox and this customer, and among other things the Company's leadership in the Smart Glasses and AR display industry. They are generally identified by words such as "believes," "may," "expects," "anticipates," "should" and similar expressions. Readers should not place undue reliance on such forward-looking statements, which are based upon the Company's beliefs and assumptions as of the date of this release. The Company's actual results could differ materially due to risk factors and other items described in more detail in the "Risk Factors" section of the Company's Annual Reports and MD&A filed with the United States Securities and Exchange Commission and applicable Canadian securities regulators (copies of which may be obtained at www.sedar.com or www.sec.gov). Subsequent events and developments may cause these forward-looking statements to change. The Company specifically disclaims any obligation or intention to update or revise these forward-looking statements as a result of changed events or circumstances that occur after the date of this release, except as required by applicable law.
Vuzix Media and Investor Relations Contact:
Ed McGregor, Director of Investor Relations,
Vuzix Corporation
ed_mcgregor@vuzix.com
Tel: (585) 359-5985
Vuzix Corporation, 25 Hendrix Road, West Henrietta, NY 14586 USA,
Investor Information – IR@vuzix.com www.vuzix.com
Cision
View original content to download multimedia:https://www.prnewswire.com/news-releases/ox-commences-deployment-of-vuzix-smart-glasses-at-one-of-the-worlds-largest-logistics-platform-providers-301728086.html
SOURCE Vuzix Corporation |
NEWS_306 | Increased technology adoption and the success of the work-from-home trend are enabling the Zacks Business-Services industry to support a growing demand environment.
Prudent growth strategies, innovation and technology enhancements are helping Viad Corp VVI, Bowman Consulting Group Ltd. BWMN and BGSF, Inc. BGSF to sail through the pandemic-related challenges.
About the Industry
The Zacks Business-Services industry comprises companies that offer a range of services, including specialty rental, supply-chain management, electronic commerce, technology, document management, digital audience, data, voice, analytical and business transformation, among others. The pandemic will continue to change the way industry players conduct business and deliver services. The industry’s key focus is currently on channelizing money and efforts toward more effective operational components, such as technology, digital transformation, data-driven decision-making and enhanced cybersecurity. To position themselves suitably in the post-pandemic era and better utilize the opportunities that the economic recovery will bring, service providers are increasing their efforts toward formulating and reassessing strategic initiatives.
What's Shaping the Future of the Business Services Industry?
Demand Stability: The industry is mature, with demand for services in good shape for a while now. Revenues, income and cash flows are now hovering above the pre-pandemic healthy levels, helping most industry players pay out stable dividends.
Relaxing Immigration Restrictions: Higher talent costs due to a competitive talent market, especially under the Trump-era restrictions on immigration, had been a headwind for the industry. However, President Joe Biden’s moves to lift the Trump-era ban on legal immigration should help service providers thrive with the increased flow of foreign talent.
Certain Headwinds to Continue: With continued uncertainty in the economy, the industry is expected to see pricing, staffing and labor cost increases with no easy savings opportunities in supply chain operations through 2023.
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Zacks Industry Rank Indicates Solid Near-Term Prospects
The Business-Services industry is housed within the broader Business Services sector. It carries a Zacks Industry Rank #62, which places it in the top 25% of more than 250 Zacks industries.
The group’s Industry Rank, which is basically the average of the Zacks Rank of all the member stocks, indicates solid near-term growth prospects. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than two to one.
Before we present a few stocks that you may want to consider for your portfolio, let’s take a look at the industry’s recent stock-market performance and current valuation.
Industry's Price Performance
Over the past year, the Zacks Business Services industry has declined 27.1% compared with the S&P 500 composite’s fall of 11.2%. The broader sector has declined 16.5% over the same time frame.
Industry’s Price Performance
Industry's Current Valuation
On the basis of the forward 12-month price-to-earnings (P/E) ratio, which is commonly used for valuing business-services stocks, the industry is currently trading at 18.03 compared with the S&P 500’s 17.79 and the sector’s 24.64.
Over the past five years, the industry has traded as high as 31.01X, as low as 10.88X and at the median of 18.03X, as the charts below show.
Industry’s Current Valuation
3 Service Stocks to Bet On
We are presenting three stocks that are well poised to grow in the near term.
Bowman Consulting: This provider of real estate, energy, infrastructure, and environmental management solutions is currently witnessing growth across all its markets. Both the top and bottom lines are benefiting from strong organic and acquisitive growth.
The company carries a Zacks Rank #2 (Buy) and the Zacks Consensus Estimate for the 2023 EPS has remained unchanged at 77 cents in the past 60 days.
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Price and Consensus: BWMN
BGSF: This provider of workforce solutions and placement services carries a Zacks Rank #3 (Hold).
BGSF’s Real Estate segment is benefiting from strong demand for apartments and build-to-rent single-family housing communities across North America. Its Professional segment is benefiting from strong activity in IT and Momentum Solutions.
The Zacks Consensus Estimate for the 2023 EPS has remained unchanged at $1.39 in the past 60 days.
Price and Consensus: BGSF
Viad Corp: This experiential leisure travel, and live events and marketing services company also carries a Zacks Rank #3. The company is currently witnessing strong momentum across its business, driven mainly by the recovery of in-person event activity from the pandemic blues.
The Zacks Consensus Estimate for 2023’s bottom line has remained unchanged at $1.28 in the past 60 days.
Price and Consensus: VVI
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
Viad Corp (VVI) : Free Stock Analysis Report
BGSF, Inc. (BGSF) : Free Stock Analysis Report
Bowman Consulting Group Ltd. (BWMN) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research |
NEWS_307 | Analyst Report: Wayfair Inc.
Wayfair engages in e-commerce in the United States and Europe. At the end of 2021, the firm offered more than 33 million products from 23,000-plus suppliers for the home sector under the brands Wayfair, Joss & Main, AllModern, DwellStudio, Birch Lane, and Perigold. This includes a selection of furniture, decor, decorative accent, housewares, seasonal decor, and other home goods. Wayfair was founded in 2002 and is focused on helping people find the perfect product at the right price. |
NEWS_308 | Enhancements to MeridianLink Engage—the marketing automation component of the company’s multi-product platform, MeridianLink One—empowers financial institutions with personalized data and campaigns to build deeper connections with consumers and grow their customer base
COSTA MESA, Calif., January 23, 2023--(BUSINESS WIRE)--MeridianLink, Inc. (NYSE: MLNK), a leading provider of modern software platforms for financial institutions and consumer reporting agencies, today announced the expansion of its MeridianLink® Engage platform. These new advancements to the Company’s marketing automation solution save valuable time in the pre-screening and deposit account opening process and enable customers to launch targeted marketing campaigns faster, delivering the right offers at the right time to consumers.
"In today’s economy, delivering personalized offers for solutions that consumers need at the moment they need them is more important than ever," said Devesh Khare, chief product officer at MeridianLink. "That’s why we continue to expand the capabilities of MeridianLink Engage as an important part of our MeridianLink® One multi-product offering. We are dedicated to helping our customers drive growth, reach their target audiences, and adjust campaigns to meet changing business and consumer needs."
New Engage features include:
Integration with MeridianLink ® Opening — Engage can now use the same frictionless offer acceptance experience for clients running deposit account origination campaigns in addition to the lending campaigns already offered through the MeridianLink ® Consumer integration.
Home Banking/Online Banking Integrations — Engage allows customers to incorporate targeted campaign messaging to key audiences when they log in to online or mobile banking systems. In addition to the direct mail and email channels originally available, Engage now makes it possible for financial institutions to distribute product offers to qualified consumers through notifications when they log in to their online banking platform. If the consumer is interested, they are redirected to a pre-filled approval form with a single click.
Expanded Credit Bureau Integration — At launch, Engage was integrated with Experian for pre-screen campaigns. MeridianLink has now expanded integration to Equifax, so clients who have a preferred relationship with the credit bureau can now take advantage of the pre-screen campaign option.
Expanded Lending Campaign Options — At launch, personalized URLs (PURLs) for each member of a campaign were available only for use in pre-screened lending campaigns. MeridianLink has now added the ability to take advantage of QR Codes and PURLs in communications for all lending campaigns, including invitations to apply, credit line increase programs, and prescreen campaigns targeting prospective members or customers, extending the improved consumer experience for all lending campaign types.
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"I’ve run prescreens in-house for the past six years, so when we had an opportunity to partner with the Engage team and look at streamlining processes, it was not only the right time but the right fit," said Christine Wright, creative services manager at FedChoice Federal Credit Union. "Engage allows us to save time in each step of the prescreen process, and we are now launching campaigns 15-20 days quicker than before. PURLs and QR codes were also so well received by our members! Because the application is secure and a large portion is pre-populated, they no longer have to put in the same level of effort to complete the prescreen process as they did before."
Engage optimizes resources for a financial institution's marketing efforts, enabling them to remove challenging data silos and the cumbersome need for IT support for data pulls, sorting, and manual reporting for marketing campaigns. Engage’s recent advancements have made it possible for clients to further grow their new customer base through expanded channels and digital integrations. Using Engage, clients have a single platform to offer consumers multiple lending, account, and card opportunities through advanced data segmentation and streamlined execution, saving valuable time and increasing consumer share of wallet.
ABOUT MERIDIANLINK
MeridianLink® (NYSE: MLNK) powers digital lending and account opening for financial institutions and provides data verification solutions for consumer reporting agencies. MeridianLink’s scalable, cloud-based platforms help customers build deeper relationships with consumers through data-driven, personalized experiences across the entire lending life cycle.
MeridianLink enables customers to accelerate revenue growth, reduce risk, and exceed consumer expectations through seamless digital experiences. Its partner marketplace supports hundreds of integrations for tailored innovation. For more than 20 years, MeridianLink has prioritized the democratization of lending for consumers, businesses, and communities.
Learn more at www.meridianlink.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20230123005167/en/
Contacts
Becky Frost
(714) 784-5839
becky.frost@meridianlink.com |
NEWS_309 | Investors are often guided by the idea of discovering 'the next big thing', even if that means buying 'story stocks' without any revenue, let alone profit. Unfortunately, these high risk investments often have little probability of ever paying off, and many investors pay a price to learn their lesson. While a well funded company may sustain losses for years, it will need to generate a profit eventually, or else investors will move on and the company will wither away.
If this kind of company isn't your style, you like companies that generate revenue, and even earn profits, then you may well be interested in Marcus & Millichap (NYSE:MMI). While profit isn't the sole metric that should be considered when investing, it's worth recognising businesses that can consistently produce it.
View our latest analysis for Marcus & Millichap
How Quickly Is Marcus & Millichap Increasing Earnings Per Share?
Generally, companies experiencing growth in earnings per share (EPS) should see similar trends in share price. That means EPS growth is considered a real positive by most successful long-term investors. Impressively, Marcus & Millichap has grown EPS by 24% per year, compound, in the last three years. If growth like this continues on into the future, then shareholders will have plenty to smile about.
Careful consideration of revenue growth and earnings before interest and taxation (EBIT) margins can help inform a view on the sustainability of the recent profit growth. Not all of Marcus & Millichap's revenue this year is revenue from operations, so keep in mind the revenue and margin numbers used in this article might not be the best representation of the underlying business. Marcus & Millichap maintained stable EBIT margins over the last year, all while growing revenue 46% to US$1.5b. That's a real positive.
The chart below shows how the company's bottom and top lines have progressed over time. For finer detail, click on the image.
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While it's always good to see growing profits, you should always remember that a weak balance sheet could come back to bite. So check Marcus & Millichap's balance sheet strength, before getting too excited.
Are Marcus & Millichap Insiders Aligned With All Shareholders?
Seeing insiders owning a large portion of the shares on issue is often a good sign. Their incentives will be aligned with the investors and there's less of a probability in a sudden sell-off that would impact the share price. So we're pleased to report that Marcus & Millichap insiders own a meaningful share of the business. In fact, they own 37% of the shares, making insiders a very influential shareholder group. Those who are comforted by solid insider ownership like this should be happy, as it implies that those running the business are genuinely motivated to create shareholder value. This insider holding amounts to That level of investment from insiders is nothing to sneeze at.
Does Marcus & Millichap Deserve A Spot On Your Watchlist?
For growth investors, Marcus & Millichap's raw rate of earnings growth is a beacon in the night. With EPS growth rates like that, it's hardly surprising to see company higher-ups place confidence in the company through continuing to hold a significant investment. The growth and insider confidence is looked upon well and so it's worthwhile to investigate further with a view to discern the stock's true value. Before you take the next step you should know about the 1 warning sign for Marcus & Millichap that we have uncovered.
The beauty of investing is that you can invest in almost any company you want. But if you prefer to focus on stocks that have demonstrated insider buying, here is a list of companies with insider buying in the last three months.
Please note the insider transactions discussed in this article refer to reportable transactions in the relevant jurisdiction.
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.
This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
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NEWS_310 | KILGORE, Texas, January 23, 2023--(BUSINESS WIRE)--Martin Midstream Partners L.P. (NASDAQ: MMLP) announced it has declared a quarterly cash distribution of $0.005 per unit for the quarter ended December 31, 2022. The distribution is payable on February 14, 2023 to common unitholders of record as of the close of business on February 7, 2023. The ex-dividend date for the cash distribution is February 6, 2023.
Qualified Notice to Nominees Partnership: Martin Midstream Partners L.P. Unit Class: Common CUSIP #: 573331105 RE: Qualified Notice Pursuant to U.S. Treasury Regulation §1.1446-4 Record Date: February 7, 2023 Payable Date: February 14, 2023 Per Unit Amount: $0.005
Section I: This announcement is intended to be a qualified notice under Treasury Regulation Section 1.1446-4(b). Brokers and nominees should treat one hundred percent (100.0%) of the Partnership's distributions to non-U.S. investors as being attributable to income that is effectively connected with a United States trade or business. Accordingly, the Partnership's distributions to non-U.S. investors are subject to federal income tax withholding at the highest applicable effective tax rate.
Section II: The entire amount of the distribution realized per U.S. Treasury Regulation 1.1446(f)-4(c)(2)(iii) is in excess of cumulative net taxable income.
About Martin Midstream Partners
MMLP, headquartered in Kilgore, Texas, is a publicly traded limited partnership with a diverse set of operations focused primarily in the Gulf Coast region of the United States. MMLP’s primary business lines include: (1) terminalling, processing, storage, and packaging services for petroleum products and by-products; (2) land and marine transportation services for petroleum products and by-products, chemicals, and specialty products; (3) sulfur and sulfur-based products processing, manufacturing, marketing and distribution; and (4) natural gas liquids marketing, distribution, and transportation services. To learn more, visit www.MMLP.com. Follow Martin Midstream Partners L.P. on LinkedIn and Facebook.
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MMLP-F
View source version on businesswire.com: https://www.businesswire.com/news/home/20230123005567/en/
Contacts
Sharon Taylor
Chief Financial Officer
(877) 256-6644
investor.relations@mmlp.com |
NEWS_311 | DocuSign (DOCU) is one of the stocks most watched by Zacks.com visitors lately. So, it might be a good idea to review some of the factors that might affect the near-term performance of the stock.
Over the past month, shares of this provider of electronic signature technology have returned +4.8%, compared to the Zacks S&P 500 composite's +4.1% change. During this period, the Zacks Technology Services industry, which DocuSign falls in, has gained 10.4%. The key question now is: What could be the stock's future direction?
While media releases or rumors about a substantial change in a company's business prospects usually make its stock 'trending' and lead to an immediate price change, there are always some fundamental facts that eventually dominate the buy-and-hold decision-making.
Revisions to Earnings Estimates
Rather than focusing on anything else, we at Zacks prioritize evaluating the change in a company's earnings projection. This is because we believe the fair value for its stock is determined by the present value of its future stream of earnings.
We essentially look at how sell-side analysts covering the stock are revising their earnings estimates to reflect the impact of the latest business trends. And if earnings estimates go up for a company, the fair value for its stock goes up. A higher fair value than the current market price drives investors' interest in buying the stock, leading to its price moving higher. This is why empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For the current quarter, DocuSign is expected to post earnings of $0.53 per share, indicating a change of +10.4% from the year-ago quarter. The Zacks Consensus Estimate has changed -33.3% over the last 30 days.
For the current fiscal year, the consensus earnings estimate of $1.92 points to a change of -3% from the prior year. Over the last 30 days, this estimate has changed -20.3%.
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For the next fiscal year, the consensus earnings estimate of $2.15 indicates a change of +11.9% from what DocuSign is expected to report a year ago. Over the past month, the estimate has changed -0.5%.
Having a strong externally audited track record, our proprietary stock rating tool, the Zacks Rank, offers a more conclusive picture of a stock's price direction in the near term, since it effectively harnesses the power of earnings estimate revisions. Due to the size of the recent change in the consensus estimate, along with three other factors related to earnings estimates, DocuSign is rated Zacks Rank #1 (Strong Buy).
The chart below shows the evolution of the company's forward 12-month consensus EPS estimate:
12 Month EPS
12-month consensus EPS estimate for DOCU _12MonthEPSChartUrl
Revenue Growth Forecast
While earnings growth is arguably the most superior indicator of a company's financial health, nothing happens as such if a business isn't able to grow its revenues. After all, it's nearly impossible for a company to increase its earnings for an extended period without increasing its revenues. So, it's important to know a company's potential revenue growth.
For DocuSign, the consensus sales estimate for the current quarter of $639.39 million indicates a year-over-year change of +10.1%. For the current and next fiscal years, $2.5 billion and $2.69 billion estimates indicate +18.4% and +7.9% changes, respectively.
Last Reported Results and Surprise History
DocuSign reported revenues of $645.46 million in the last reported quarter, representing a year-over-year change of +18.3%. EPS of $0.57 for the same period compares with $0.58 a year ago.
Compared to the Zacks Consensus Estimate of $626.07 million, the reported revenues represent a surprise of +3.1%. The EPS surprise was +39.02%.
Over the last four quarters, DocuSign surpassed consensus EPS estimates two times. The company topped consensus revenue estimates each time over this period.
Valuation
No investment decision can be efficient without considering a stock's valuation. Whether a stock's current price rightly reflects the intrinsic value of the underlying business and the company's growth prospects is an essential determinant of its future price performance.
Comparing the current value of a company's valuation multiples, such as its price-to-earnings (P/E), price-to-sales (P/S), and price-to-cash flow (P/CF), to its own historical values helps ascertain whether its stock is fairly valued, overvalued, or undervalued, whereas comparing the company relative to its peers on these parameters gives a good sense of how reasonable its stock price is.
As part of the Zacks Style Scores system, the Zacks Value Style Score (which evaluates both traditional and unconventional valuation metrics) organizes stocks into five groups ranging from A to F (A is better than B; B is better than C; and so on), making it helpful in identifying whether a stock is overvalued, rightly valued, or temporarily undervalued.
DocuSign is graded D on this front, indicating that it is trading at a premium to its peers. Click here to see the values of some of the valuation metrics that have driven this grade.
Conclusion
The facts discussed here and much other information on Zacks.com might help determine whether or not it's worthwhile paying attention to the market buzz about DocuSign. However, its Zacks Rank #1 does suggest that it may outperform the broader market in the near term.
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
DocuSign (DOCU) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research |
NEWS_312 | Shares of Wayfair (NYSE:W) surged again in today's session, which can be attributed to an analyst upgrade. Christopher Horvers of J.P. Morgan (NYSE:JPM) changed his rating from Sell to Buy while assigning a price target of...
Wayfair Inc. Cl A
Wayfair, Inc. engages in an online home furnishing store. It operates through the U.S. and International segments. The U.S. segment consists of amounts earned through product sales through the company's five distinct sites in the U.S. and through websites operated by third parties in the U.S. The International segment is composed of earnings through product sales in international sites. The company was founded by Steven K. Conine and Niraj S. Shah in May 2002 and is headquartered in Boston, MA. |
NEWS_313 | Shares of MercadoLibre (NASDAQ: MELI) flew higher last week, jumping 16% on Thursday and Friday, on some surprising news. A top rival in Brazil, Americanas S.A., was unraveling in an accounting scandal that led to the ouster of its CEO and CFO and wiped out roughly 80% of its stock price in one day. Americanas is Brazil's largest online retailer, but the company is reeling following the revelation of $3.88 billion in accounting inconsistencies -- debt that it hadn't previously reported. |
NEWS_314 | Shares of Manulife Financial Corp. MFC, were unchanged Monday, in what proved to be an all-around favorable trading session for the Canadian market, with the S&P/TSX Composite Index GSPTSE, +0.15% rising 0.15% to 20,390.33. Manulife Financial Corp. closed C$2.70 short of its 52-week high (C$28.09), which the company achieved on February 10th. Trading volume of 3.3 M shares remained below its 50-day average volume of 7.6 M.
Editor's Note: This story was auto-generated by Automated Insights, an automation technology provider, using data from Dow Jones and FactSet. See our market data terms of use. |
NEWS_315 | By Divya Chowdhury and Savio Shetty
DAVOS, Switzerland (Reuters) - Job cuts are not "top of mind" for Manulife Financial Corp, Canada's largest insurer, as it sees significant growth opportunities, fuelled particularly by Asia, CEO Roy Gori said on Monday.
"We are in growth mode," Gori told the Reuters Global Markets Forum on the sidelines of the World Economic Forum's annual meeting in Davos, adding that his firm has been increasing headcount.
"We are growing at more than double or triple the GDP in most of the markets that we operate in. That means that we're investing organically to grow our business and ... possibly looking at inorganic opportunities for growth as well."
Gori said Manulife's U.S. and Canadian markets were stable and growing at a reasonable rate, while seeing a "phenomenal opportunity" in Asia due to the region's expanding middle-class, despite any trade shocks that may come its way.
While China's reversal of its zero-COVID policy may pose some short-term challenges, Gori expected activity to pick up in the second half of the year, providing impetus to Asia and the rest of the world.
Gori said he wasn't worried that the U.S. Federal Reserve would over-tighten, as he expected inflation to remain stubbornly high and central banks to maintain higher interest rates for longer.
"At the very minimum, we'll see three 25-basis-point rate hikes from the Fed. If they do have to cut rates, it maybe by 25 basis points or 50, but I'm not seeing a 200 bps rate cut in the outlook of 2023 or 2024."
The prospect of an imminent global recession cast a long shadow over Davos on Monday as participants counted the likely cost for their economies and businesses.
(Join GMF, a chat room hosted on Refinitiv Messenger: )
(Reporting by Divya Chowdhury in Davos and Savio Shetty in Mumbai; Additional reporting by Nishara Pathikkal in Bengaluru; Editing by Leslie Adler) |
NEWS_316 | By Divya Chowdhury and Savio Shetty
DAVOS, Switzerland, Jan 16 (Reuters) - Job cuts are not "top of mind" for Manulife Financial Corp, Canada's largest insurer, as it sees significant growth opportunities, fuelled particularly by Asia, CEO Roy Gori said on Monday.
"We are in growth mode," Gori told the Reuters Global Markets Forum on the sidelines of the World Economic Forum's annual meeting in Davos, adding that his firm has been increasing headcount.
"We are growing at more than double or triple the GDP in most of the markets that we operate in. That means that we're investing organically to grow our business and ... possibly looking at inorganic opportunities for growth as well."
Gori said Manulife's U.S. and Canadian markets were stable and growing at a reasonable rate, while seeing a "phenomenal opportunity" in Asia due to the region's expanding middle-class, despite any trade shocks that may come its way.
While China's reversal of its zero-COVID policy may pose some short-term challenges, Gori expected activity to pick up in the second half of the year, providing impetus to Asia and the rest of the world.
Gori said he wasn't worried that the U.S. Federal Reserve would over-tighten, as he expected inflation to remain stubbornly high and central banks to maintain higher interest rates for longer.
"At the very minimum, we'll see three 25-basis-point rate hikes from the Fed. If they do have to cut rates, it maybe by 25 basis points or 50, but I'm not seeing a 200 bps rate cut in the outlook of 2023 or 2024."
The prospect of an imminent global recession cast a long shadow over Davos on Monday as participants counted the likely cost for their economies and businesses. (Join GMF, a chat room hosted on Refinitiv Messenger: https://refini.tv/33uoFoQ) (Reporting by Divya Chowdhury in Davos and Savio Shetty in Mumbai; Additional reporting by Nishara Pathikkal in Bengaluru; Editing by Leslie Adler) |
NEWS_317 | Investors with an interest in Banks - Foreign stocks have likely encountered both Mizuho (MFG) and Sumitomo Mitsui (SMFG). But which of these two stocks is more attractive to value investors? We'll need to take a closer look to find out.
Everyone has their own methods for finding great value opportunities, but our model includes pairing an impressive grade in the Value category of our Style Scores system with a strong Zacks Rank. The Zacks Rank is a proven strategy that targets companies with positive earnings estimate revision trends, while our Style Scores work to grade companies based on specific traits.
Currently, both Mizuho and Sumitomo Mitsui are holding a Zacks Rank of # 2 (Buy). The Zacks Rank favors stocks that have recently seen positive revisions to their earnings estimates, so investors should rest assured that both of these companies have improving earnings outlooks. However, value investors will care about much more than just this.
Value investors also tend to look at a number of traditional, tried-and-true figures to help them find stocks that they believe are undervalued at their current share price levels.
Our Value category grades stocks based on a number of key metrics, including the tried-and-true P/E ratio, the P/S ratio, earnings yield, and cash flow per share, as well as a variety of other fundamentals that value investors frequently use.
MFG currently has a forward P/E ratio of 10.12, while SMFG has a forward P/E of 11.22. We also note that MFG has a PEG ratio of 1.64. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. SMFG currently has a PEG ratio of 1.96.
Another notable valuation metric for MFG is its P/B ratio of 0.64. The P/B ratio is used to compare a stock's market value with its book value, which is defined as total assets minus total liabilities. For comparison, SMFG has a P/B of 0.68.
Based on these metrics and many more, MFG holds a Value grade of B, while SMFG has a Value grade of C.
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Both MFG and SMFG are impressive stocks with solid earnings outlooks, but based on these valuation figures, we feel that MFG is the superior value option right now.
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Mizuho Financial Group, Inc. (MFG) : Free Stock Analysis Report
Sumitomo Mitsui Financial Group Inc (SMFG) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research |
NEWS_318 | LONDON, January 16, 2023--(BUSINESS WIRE)--
FORM 8.3
PUBLIC OPENING POSITION DISCLOSURE/DEALING DISCLOSURE BY
A PERSON WITH INTERESTS IN RELEVANT SECURITIES REPRESENTING 1% OR MORE
Rule 8.3 of the Takeover Code (the "Code")
1. KEY INFORMATION
(a) Full name of discloser: Qube Research & Technologies Limited (b) Owner or controller of interests and short positions disclosed, if different from 1(a): The naming of nominee or vehicle companies is insufficient. For a trust, the trustee(s), settlor and beneficiaries must be named. (c) Name of offeror/offeree in relation to whose relevant securities this form relates: Use a separate form for each offeror/offeree Micro Focus International plc (d) If an exempt fund manager connected with an offeror/offeree, state this and specify identity of offeror/offeree: (e) Date position held/dealing undertaken: For an opening position disclosure, state the latest practicable date prior to the disclosure 13/01/2023 (f) In addition to the company in 1(c) above, is the discloser making disclosures in respect of any other party to the offer? If it is a cash offer or possible cash offer, state "N/A" N/A
2. POSITIONS OF THE PERSON MAKING THE DISCLOSURE
If there are positions or rights to subscribe to disclose in more than one class of relevant securities of the offeror or offeree named in 1(c), copy table 2(a) or (b) (as appropriate) for each additional class of relevant security.
(a) Interests and short positions in the relevant securities of the offeror or offeree to which the disclosure relates following the dealing (if any)
Class of relevant security: 10p Ordinary Share Interests Short positions Number % Number % (1) Relevant securities owned and/or controlled: (2) Cash-settled derivatives: 3,441,060 1.01 0 0 (3) Stock-settled derivatives (including options) and agreements to purchase/sell: 0 0 0 0 TOTAL: 3,441,060 1.01 0 0
All interests and all short positions should be disclosed.
Details of any open stock-settled derivative positions (including traded options), or agreements to purchase or sell relevant securities, should be given on a Supplemental Form 8 (Open Positions).
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(b) Rights to subscribe for new securities (including directors’ and other employee options)
Class of relevant security in relation to which subscription right exists: 0 Details, including nature of the rights concerned and relevant percentages: 0
3. DEALINGS (IF ANY) BY THE PERSON MAKING THE DISCLOSURE
Where there have been dealings in more than one class of relevant securities of the offeror or offeree named in 1(c), copy table 3(a), (b), (c) or (d) (as appropriate) for each additional class of relevant security dealt in.
The currency of all prices and other monetary amounts should be stated.
(a) Purchases and sales
Class of relevant security Purchase/sale Number of securities Price per unit
(b) Cash-settled derivative transactions
Class of relevant security Product description e.g. CFD Nature of dealing e.g. opening/closing a long/short position, increasing/reducing a long/short position Number of reference securities Price per unit 10p Ordinary Share Equity Swap Increasing a long position 783 530.2 10p Ordinary Share Equity Swap Reducing a long position 197 530.2 10p Ordinary Share Equity Swap Increasing a long position 241 530.2 10p Ordinary Share Equity Swap Increasing a long position 1763 530 10p Ordinary Share Equity Swap Increasing a long position 241 530.2 10p Ordinary Share Equity Swap Increasing a long position 533 530.2 10p Ordinary Share Equity Swap Increasing a long position 5 530.2 10p Ordinary Share Equity Swap Increasing a long position 50 530.2 10p Ordinary Share Equity Swap Increasing a long position 103 530.2 10p Ordinary Share Equity Swap Increasing a long position 1191 530.8 10p Ordinary Share Equity Swap Increasing a long position 357 530.2 10p Ordinary Share Equity Swap Increasing a long position 485 530.2 10p Ordinary Share Equity Swap Increasing a long position 149 530.2 10p Ordinary Share Equity Swap Increasing a long position 246 530.8 10p Ordinary Share Equity Swap Increasing a long position 1339 530.2 10p Ordinary Share Equity Swap Increasing a long position 874 530.2 10p Ordinary Share Equity Swap Increasing a long position 42 530.8 10p Ordinary Share Equity Swap Increasing a long position 26 530.2 10p Ordinary Share Equity Swap Increasing a long position 105 530.2 10p Ordinary Share Equity Swap Increasing a long position 520 530.6 10p Ordinary Share Equity Swap Increasing a long position 429 530.2 10p Ordinary Share Equity Swap Increasing a long position 840 530 10p Ordinary Share Equity Swap Increasing a long position 252 530.2 10p Ordinary Share Equity Swap Increasing a long position 146 530.2 10p Ordinary Share Equity Swap Increasing a long position 218 530.8 10p Ordinary Share Equity Swap Reducing a long position 88 530 10p Ordinary Share Equity Swap Reducing a long position 295 530.2 10p Ordinary Share Equity Swap Reducing a long position 274 530.8 10p Ordinary Share Equity Swap Reducing a long position 520 530.6 10p Ordinary Share Equity Swap Reducing a long position 218 530.8 10p Ordinary Share Equity Swap Reducing a long position 3 532 10p Ordinary Share Equity Swap Reducing a long position 275 530 10p Ordinary Share Equity Swap Reducing a long position 1931 530 10p Ordinary Share Equity Swap Reducing a long position 565 530.8 10p Ordinary Share Equity Swap Reducing a long position 673 530.8 10p Ordinary Share Equity Swap Reducing a long position 105 530.8 10p Ordinary Share Equity Swap Reducing a long position 16 530.8 10p Ordinary Share Equity Swap Reducing a long position 126 530
(c) Stock-settled derivative transactions (including options)
(i) Writing, selling, purchasing or varying
Class of relevant security Product description e.g. call option Writing, purchasing, selling, varying etc. Number of securities to which option relates Exercise price per unit Type e.g. American, European etc. Expiry date Option money paid/ received per unit
(ii) Exercise
Class of relevant security Product description e.g. call option Exercising/ exercised against Number of securities Exercise price per unit 0 0 0 0 0
(d) Other dealings (including subscribing for new securities)
Class of relevant security Nature of dealing e.g. subscription, conversion Details Price per unit (if applicable) 0 0 0 0
4. OTHER INFORMATION
(a) Indemnity and other dealing arrangements
Details of any indemnity or option arrangement, or any agreement or understanding, formal or informal, relating to relevant securities which may be an inducement to deal or refrain from dealing entered into by the person making the disclosure and any party to the offer or any person acting in concert with a party to the offer: Irrevocable commitments and letters of intent should not be included. If there are no such agreements, arrangements or understandings, state "none" None
(b) Agreements, arrangements or understandings relating to options or derivatives
Details of any agreement, arrangement or understanding, formal or informal, between the person making the disclosure and any other person relating to: (i) the voting rights of any relevant securities under any option; or (ii) the voting rights or future acquisition or disposal of any relevant securities to which any derivative is referenced: If there are no such agreements, arrangements or understandings, state "none" None
(c) Attachments
Is a Supplemental Form 8 (Open Positions) attached? NO
Date of disclosure: 16/01/2023 Contact name: Stuart Brown Telephone number: 00442070722969
Public disclosures under Rule 8 of the Code must be made to a Regulatory Information Service.
The Panel’s Market Surveillance Unit is available for consultation in relation to the Code’s disclosure requirements on +44 (0)20 7638 0129.
The Code can be viewed on the Panel’s website at www.thetakeoverpanel.org.uk.
View source version on businesswire.com: https://www.businesswire.com/news/home/20230116005277/en/
Contacts
Qube Research & Technologies LTD |
NEWS_319 | LONDON, January 16, 2023--(BUSINESS WIRE)--
FORM 8.3
PUBLIC OPENING POSITION DISCLOSURE/DEALING DISCLOSURE BY
A PERSON WITH INTERESTS IN RELEVANT SECURITIES REPRESENTING 1% OR MORE
Rule 8.3 of the Takeover Code (the "Code")
1. KEY INFORMATION
(a) Full name of discloser: Millennium International Management LP (b) Owner or controller of interests and short positions disclosed, if different from 1(a): The naming of nominee or vehicle companies is insufficient. For a trust, the trustee(s), settlor and beneficiaries must be named. (c) Name of offeror/offeree in relation to whose relevant securities this form relates: Use a separate form for each offeror/offeree Micro Focus International plc (d) If an exempt fund manager connected with an offeror/offeree, state this and specify identity of offeror/offeree: (e) Date position held/dealing undertaken: For an opening position disclosure, state the latest practicable date prior to the disclosure 12th January 2023 (f) In addition to the company in 1(c) above, is the discloser making disclosures in respect of any other party to the offer? If it is a cash offer or possible cash offer, state "N/A" No
2. POSITIONS OF THE PERSON MAKING THE DISCLOSURE
If there are positions or rights to subscribe to disclose in more than one class of relevant securities of the offeror or offeree named in 1(c), copy table 2(a) or (b) (as appropriate) for each additional class of relevant security.
(a) Interests and short positions in the relevant securities of the offeror or offeree to which the disclosure relates following the dealing (if any)
Class of relevant security: 10p ordinary (GB00BJ1F4N75) ADR (US5948374039) Interests Short positions Number % Number % (1) Relevant securities owned and/or controlled: 204,880 0.060% (2) Cash-settled derivatives: 9,055,068 2.669% 8,304 0.002% (3) Stock-settled derivatives (including options) and agreements to purchase/sell: TOTAL: 9,259,948 2.730% 8,304 0.002%
All interests and all short positions should be disclosed.
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Details of any open stock-settled derivative positions (including traded options), or agreements to purchase or sell relevant securities, should be given on a Supplemental Form 8 (Open Positions).
(b) Rights to subscribe for new securities (including directors’ and other employee options)
Class of relevant security in relation to which subscription right exists: Details, including nature of the rights concerned and relevant percentages:
3. DEALINGS (IF ANY) BY THE PERSON MAKING THE DISCLOSURE
Where there have been dealings in more than one class of relevant securities of the offeror or offeree named in 1(c), copy table 3(a), (b), (c) or (d) (as appropriate) for each additional class of relevant security dealt in.
The currency of all prices and other monetary amounts should be stated.
(a) Purchases and sales
Class of relevant security Purchase/sale Number of securities Price per unit (USD) US5948374039 Sale 66,256 6.43
(b) Cash-settled derivative transactions
Class of relevant security Product description e.g. CFD Nature of dealing e.g. opening/closing a long/short position, increasing/reducing a long/short position Number of reference securities Price per unit GB00BJ1F4N75 Equity Swap Increasing a long position 1,554 5.31 GBP GB00BJ1F4N75 Equity Swap Increasing a long position 231 5.30 GBP GB00BJ1F4N75 Equity Swap Reducing a long position 288 5.30 GBP GB00BJ1F4N75 Equity Swap Increasing a long position 3 5.30 GBP GB00BJ1F4N75 Equity Swap Increasing a long position 66,256 6.43 USD
(c) Stock-settled derivative transactions (including options)
(i) Writing, selling, purchasing or varying
Class of relevant security Product description e.g. call option Writing, purchasing, selling, varying etc. Number of securities to which option relates Exercise price per unit (USD) Type e.g. American, European etc. Expiry date Option money paid/ received per unit
(ii) Exercise
Class of relevant security Product description e.g. call option Exercising/ exercised against Number of securities Exercise price per unit
(d) Other dealings (including subscribing for new securities)
Class of relevant security Nature of dealing e.g. subscription, conversion Details Price per unit (if applicable)
4. OTHER INFORMATION
(a) Indemnity and other dealing arrangements
Details of any indemnity or option arrangement, or any agreement or understanding, formal or informal, relating to relevant securities which may be an inducement to deal or refrain from dealing entered into by the person making the disclosure and any party to the offer or any person acting in concert with a party to the offer: Irrevocable commitments and letters of intent should not be included. If there are no such agreements, arrangements or understandings, state "none" NONE
(b) Agreements, arrangements or understandings relating to options or derivatives
Details of any agreement, arrangement or understanding, formal or informal, between the person making the disclosure and any other person relating to: (i) the voting rights of any relevant securities under any option; or (ii) the voting rights or future acquisition or disposal of any relevant securities to which any derivative is referenced: If there are no such agreements, arrangements or understandings, state "none" NONE
(c) Attachments
Is a Supplemental Form 8 (Open Positions) attached? No
Date of disclosure: 16th January 2023 Contact name: Roisin Nagle Telephone number: +44 203 192 8746
Public disclosures under Rule 8 of the Code must be made to a Regulatory Information Service and must also be emailed to the Takeover Panel at monitoring@disclosure.org.uk. The Panel’s Market Surveillance Unit is available for consultation in relation to the Code’s disclosure requirements on +44 (0)20 7638 0129.
The Code can be viewed on the Panel’s website at www.thetakeoverpanel.org.uk.
View source version on businesswire.com: https://www.businesswire.com/news/home/20230116005408/en/
Contacts
Millennium Partners, L.P. |
NEWS_320 | Shares of Magna International Inc. MG, -0.20% dropped 0.20% to C$85.62 Monday, in what proved to be an otherwise all-around favorable trading session for the Canadian market, with the S&P/TSX Composite Index GSPTSE, +0.15% rising 0.15% to 20,390.33. Magna International Inc. closed C$26.70 short of its 52-week high (C$112.32), which the company reached on January 17th. Trading volume of 128,413 shares remained below its 50-day average volume of 728,362.
Editor's Note: This story was auto-generated by Automated Insights, an automation technology provider, using data from Dow Jones and FactSet. See our market data terms of use. |
NEWS_321 | Milestone Pharmaceuticals (MIST) appears an attractive pick, as it has been recently upgraded to a Zacks Rank #2 (Buy). An upward trend in earnings estimates -- one of the most powerful forces impacting stock prices -- has triggered this rating change.
A company's changing earnings picture is at the core of the Zacks rating. The system tracks the Zacks Consensus Estimate -- the consensus measure of EPS estimates from the sell-side analysts covering the stock -- for the current and following years.
The power of a changing earnings picture in determining near-term stock price movements makes the Zacks rating system highly useful for individual investors, since it can be difficult to make decisions based on rating upgrades by Wall Street analysts. These are mostly driven by subjective factors that are hard to see and measure in real time.
Therefore, the Zacks rating upgrade for Milestone Pharmaceuticals basically reflects positivity about its earnings outlook that could translate into buying pressure and an increase in its stock price.
Most Powerful Force Impacting Stock Prices
The change in a company's future earnings potential, as reflected in earnings estimate revisions, and the near-term price movement of its stock are proven to be strongly correlated. The influence of institutional investors has a partial contribution to this relationship, as these big professionals use earnings and earnings estimates to calculate the fair value of a company's shares. An increase or decrease in earnings estimates in their valuation models simply results in higher or lower fair value for a stock, and institutional investors typically buy or sell it. Their bulk investment action then leads to price movement for the stock.
Fundamentally speaking, rising earnings estimates and the consequent rating upgrade for Milestone Pharmaceuticals imply an improvement in the company's underlying business. Investors should show their appreciation for this improving business trend by pushing the stock higher.
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Harnessing the Power of Earnings Estimate Revisions
Empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock movements, so it could be truly rewarding if such revisions are tracked for making an investment decision. Here is where the tried-and-tested Zacks Rank stock-rating system plays an important role, as it effectively harnesses the power of earnings estimate revisions.
The Zacks Rank stock-rating system, which uses four factors related to earnings estimates to classify stocks into five groups, ranging from Zacks Rank #1 (Strong Buy) to Zacks Rank #5 (Strong Sell), has an impressive externally-audited track record, with Zacks Rank #1 stocks generating an average annual return of +25% since 1988. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here >>>>.
Earnings Estimate Revisions for Milestone Pharmaceuticals
For the fiscal year ending December 2022, this biotechnology company is expected to earn -$1.43 per share, which is a change of -40.2% from the year-ago reported number.
Analysts have been steadily raising their estimates for Milestone Pharmaceuticals. Over the past three months, the Zacks Consensus Estimate for the company has increased 3.9%.
Bottom Line
Unlike the overly optimistic Wall Street analysts whose rating systems tend to be weighted toward favorable recommendations, the Zacks rating system maintains an equal proportion of 'buy' and 'sell' ratings for its entire universe of more than 4000 stocks at any point in time. Irrespective of market conditions, only the top 5% of the Zacks-covered stocks get a 'Strong Buy' rating and the next 15% get a 'Buy' rating. So, the placement of a stock in the top 20% of the Zacks-covered stocks indicates its superior earnings estimate revision feature, making it a solid candidate for producing market-beating returns in the near term.
You can learn more about the Zacks Rank here >>>
The upgrade of Milestone Pharmaceuticals to a Zacks Rank #2 positions it in the top 20% of the Zacks-covered stocks in terms of estimate revisions, implying that the stock might move higher in the near term.
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
Milestone Pharmaceuticals Inc. (MIST) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research |
NEWS_322 | Insiders were net buyers of AG Mortgage Investment Trust, Inc.'s (NYSE:MITT ) stock during the past year. That is, insiders bought more stock than they sold.
Although we don't think shareholders should simply follow insider transactions, we do think it is perfectly logical to keep tabs on what insiders are doing.
See our latest analysis for AG Mortgage Investment Trust
AG Mortgage Investment Trust Insider Transactions Over The Last Year
The Independent Director Matthew Jozoff made the biggest insider purchase in the last 12 months. That single transaction was for US$222k worth of shares at a price of US$7.42 each. So it's clear an insider wanted to buy, even at a higher price than the current share price (being US$6.41). Their view may have changed since then, but at least it shows they felt optimistic at the time. To us, it's very important to consider the price insiders pay for shares. Generally speaking, it catches our eye when an insider has purchased shares at above current prices, as it suggests they believed the shares were worth buying, even at a higher price. The only individual insider to buy over the last year was Matthew Jozoff.
Matthew Jozoff purchased 38.00k shares over the year. The average price per share was US$7.42. You can see a visual depiction of insider transactions (by companies and individuals) over the last 12 months, below. By clicking on the graph below, you can see the precise details of each insider transaction!
AG Mortgage Investment Trust is not the only stock that insiders are buying. For those who like to find winning investments this free list of growing companies with recent insider purchasing, could be just the ticket.
Insider Ownership
For a common shareholder, it is worth checking how many shares are held by company insiders. Usually, the higher the insider ownership, the more likely it is that insiders will be incentivised to build the company for the long term. From our data, it seems that AG Mortgage Investment Trust insiders own 5.3% of the company, worth about US$7.5m. We do generally prefer see higher levels of insider ownership.
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What Might The Insider Transactions At AG Mortgage Investment Trust Tell Us?
It doesn't really mean much that no insider has traded AG Mortgage Investment Trust shares in the last quarter. However, our analysis of transactions over the last year is heartening. We'd like to see bigger individual holdings. However, we don't see anything to make us think AG Mortgage Investment Trust insiders are doubting the company. So these insider transactions can help us build a thesis about the stock, but it's also worthwhile knowing the risks facing this company. For example - AG Mortgage Investment Trust has 2 warning signs we think you should be aware of.
Of course, you might find a fantastic investment by looking elsewhere. So take a peek at this free list of interesting companies.
For the purposes of this article, insiders are those individuals who report their transactions to the relevant regulatory body. We currently account for open market transactions and private dispositions, but not derivative transactions.
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.
This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
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NEWS_323 | Madison Funds, managed by Madison Investment Management, released its “Madison Mid Cap Fund” fourth-quarter 2022 investor letter. A copy of the same can be downloaded here. In the fourth quarter, the fund increased by 9.6% compared to a 9.2% increase in the Russell Midcap Index. In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.
Madison Funds highlighted stocks like Markel Corporation (NYSE:MKL) in its Q4 2022 investor letter. Headquartered in Glen Allen, Virginia, Markel Corporation (NYSE:MKL) is a financial holding company. On January 13, 2023, Markel Corporation (NYSE:MKL) stock closed at $1,439.96 per share. One-month return of Markel Corporation (NYSE:MKL) was 14.88%, and its shares gained 12.80% of their value over the last 52 weeks. Markel Corporation (NYSE:MKL) has a market capitalization of $19.368 billion.
Madison Funds made the following comment about Markel Corporation (NYSE:MKL) in its fourth-quarter 2022 investor letter:
“Strong performance from our insurance companies continued in the fourth quarter, with two showing up in the top five contributors, Arch Capital and Markel Corporation (NYSE:MKL). Both companies are capitalizing on a period of rising premium prices, which is referred to as a ‘hard’ market in insurance parlance. In our view, the current hard market conditions will continue for a couple more years, and through their experienced management teams, strong balance sheets, and expertise in many specialty lines, we believe Arch and Markel are well positioned to continue to benefit.”
Creative Collage Of Business Team Working On Project And Stock Markets Data On Trasparent Screen, Financial Statistics Layered Over Man Using Laptop For Trading On Forex, Panorama
Markel Corporation (NYSE:MKL) is not on our 30 Most Popular Stocks Among Hedge Funds list. As per our database, 32 hedge fund portfolios held Markel Corporation (NYSE:MKL) at the end of the third quarter, which was 26 in the previous quarter.
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We discussed Markel Corporation (NYSE:MKL) in another article and shared the growth stock picks of Warren Buffett. In addition, please check out our hedge fund investor letters Q4 2022 page for more investor letters from hedge funds and other leading investors.
Suggested Articles:
Disclosure: None. This article is originally published at Insider Monkey. |
NEWS_324 | Molecular Partners
Unique avidity driven mechanism engages CD3 on T cells when binding either two or three tumor-associated antigens to enhance selectivity for AML cells
Preclinical data demonstrated that MP0533 can selectively target and kill both leukemic blast cells and stem cells, while sparing healthy cells
ZURICH-SCHLIEREN, Switzerland and CONCORD, Mass., Jan. 16, 2023 (GLOBE NEWSWIRE) -- Molecular Partners AG (SIX: MOLN; NASDAQ: MOLN), a clinical-stage biotech company developing a new class of custom-built protein drugs known as DARPin therapeutics, announced today that the first patient has been treated in a Phase 1 first-in-human study evaluating the safety, tolerability, and efficacy of MP0533, the company’s candidate for acute myeloid leukemia (AML). MP0533 is designed to focus an immune attack against AML in a new way that preferentially spares healthy cells, which has been a historic challenge for CD3-targeting therapeutics.
“AML is a notoriously difficult cancer to treat, in large part due to the overlapping targets which are expressed on both healthy, and leukemic cells. Our team has worked relentlessly over the past 3 years to develop a molecule intended to target these cancerous cells, while avoiding healthy cells. MP0533’s mechanism represents a new level of precision targeting in complex cancers that may permit greater use of the immunostimulatory power of CD3,” said Nicolas Leupin, M.D., Ph.D., Chief Medical Officer of Molecular Partners. “We are grateful to our team and our collaborators for reaching this milestone and look forward to learning more about the potential of MP0533 to help these patients.”
MP0533 simultaneously targets three surface proteins, CD33, CD123, and CD70, that are vastly more likely to appear together on AML blast cells and leukemic stem cells over healthy cells. It also targets an immunostimulatory protein, CD3, on cytotoxic T cells, which will only activate when at least two of the surface proteins are bound. This novel mechanism is intended to greatly favor CD3 activation in proximity to leukemic stem cells rather than the systemic activation seen in previous CD3-based T cell engagers.
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The Phase 1 open-label dose escalation study will enroll patients with relapsed/refractory AML and higher-risk myelodysplastic syndromes (MDS). It is designed to assess the safety, tolerability, and efficacy of MP0533 in addition to a range of secondary endpoints, such as the effect on LSCs, pharmacodynamics, T-cell activation, and cytokine release. Between 20-45 patients are expected to be enrolled across five sites in Switzerland and the Netherlands in collaboration with certain sites within the HOVON cooperative group. Additional clinical sites are planned as well.
MP0533 preclinical data demonstrates its greatly increased avidity for cells expressing two or three of the tumor associated antigens (TAAs) compared to cells expressing a single TAA. MP0533 also demonstrated an ability to induce T cell activation and killing of AML cells in samples from newly diagnosed and previously treated patients. The research also showed that MP0533 was able to directly target and kill LSCs while sparing a variety of healthy cells including hematopoietic stem cells, endothelial cells, and T cells.
About Molecular Partners’ Oncology Product Candidates
Molecular Partners is developing several candidates designed to activate the immune system to fight cancer while reducing damage to healthy cells. These candidates use multiple novel DARPin technologies potentially applicable against a wide range of tumor types, including DARPin candidates with the ability to restrict immune activation to the tumor microenvironment, the ability to target intracellular disease-associated proteins, and multiple novel control mechanisms for immune activation designed to direct immune attack to the right cells, at the right place, and at the right time. These capabilities can be combined during candidate design through the inherent modularity of the DARPin platform, to provide precise control over immune activation and potentially enable more effective cancer therapies.
About Molecular Partners AG
Molecular Partners AG is a clinical-stage biotech company developing DARPin therapeutics, a new class of custom-built protein drugs designed to address challenges current modalities cannot. The Company has formed partnerships with leading pharmaceutical companies to advance DARPin therapeutics in the areas of ophthalmology, oncology, and infectious disease, and has compounds in various stages of clinical and preclinical development across multiple therapeutic areas. www.molecularpartners.com; Find us on Twitter - @MolecularPrtnrs
Cautionary Note Regarding Forward-Looking Statements
Any statements contained in this press release that do not describe historical facts may constitute forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995, as amended, including, without limitation, implied and express statements regarding the clinical development of Molecular Partners’ current or future product candidates, expectations regarding timing for reporting data from ongoing clinical trials or the initiation of future clinical trials, the potential therapeutic and clinical benefits of Molecular Partners’ product candidates, the selection and development of future antiviral or other programs, and Molecular Partners’ expected expenses and cash utilization for 2022 and its expectation that its current cash resources will be sufficient to fund its operations and capital expenditure requirements into 2026. These statements may be identified by words such as “believe”, “expect”, “may”, “plan”, “potential”, “will”, “would” and similar expressions, and are based on Molecular Partners AG’s current beliefs and expectations. These statements involve risks and uncertainties that could cause actual results to differ materially from those reflected in such statements. Some of the key factors that could cause actual results to differ from Molecular Partners’ expectations include its plans to develop and potentially commercialize its product candidates; Molecular Partners’ reliance on third party partners and collaborators over which it may not always have full control; Molecular Partners’ ongoing and planned clinical trials and preclinical studies for its product candidates, including the timing of such trials and studies; the risk that the results of preclinical studies and clinical trials may not be predictive of future results in connection with future clinical trials; the timing of and Molecular Partners’ ability to obtain and maintain regulatory approvals for its product candidates; the extent of clinical trials potentially required for Molecular Partners’ product candidates; the clinical utility and ability to achieve market acceptance of Molecular Partners’ product candidates; the potential impact of the COVID-19 pandemic on Molecular Partners’ preclinical studies, clinical trials or operations, or the operations of third parties on which it relies; Molecular Partners’ plans and development of any new indications for its product candidates; Molecular Partners’ commercialization, marketing and manufacturing capabilities and strategy; Molecular Partners’ intellectual property position; Molecular Partners’ ability to identify and in-license additional product candidates; and other risks and uncertainties that are described in the Risk Factors section of Molecular Partners’ Annual Report on Form 20-F for the fiscal year ended December 31, 2021 filed with Securities and Exchange Commission (SEC) on March 15, 2022 and other filings Molecular Partners makes with the SEC. These documents are available on the Investors page of Molecular Partners’ website at www.molecularpartners.com. Any forward-looking statements speak only as of the date of this press release and are based on information available to Molecular Partners as of the date of this release, and Molecular Partners assumes no obligation to, and does not intend to, update any forward-looking statements, whether as a result of new information, future events or otherwise.
For further details, please contact:
Seth Lewis, Investor Relations
seth.lewis@molecularpartners.com
Tel: +1 781 420 2361
Antonio Ligi, Communications
Zurich-Schlieren, Switzerland
antonio.ligi@molecularpartners.com
Tel: +41 79 723 36 81
|
NEWS_325 | If you're not sure where to start when looking for the next multi-bagger, there are a few key trends you should keep an eye out for. One common approach is to try and find a company with returns on capital employed (ROCE) that are increasing, in conjunction with a growing amount of capital employed. Ultimately, this demonstrates that it's a business that is reinvesting profits at increasing rates of return. However, after briefly looking over the numbers, we don't think Motorcar Parts of America (NASDAQ:MPAA) has the makings of a multi-bagger going forward, but let's have a look at why that may be.
What Is Return On Capital Employed (ROCE)?
For those who don't know, ROCE is a measure of a company's yearly pre-tax profit (its return), relative to the capital employed in the business. The formula for this calculation on Motorcar Parts of America is:
Return on Capital Employed = Earnings Before Interest and Tax (EBIT) ÷ (Total Assets - Current Liabilities)
0.049 = US$29m ÷ (US$1.0b - US$426m) (Based on the trailing twelve months to September 2022).
So, Motorcar Parts of America has an ROCE of 4.9%. In absolute terms, that's a low return and it also under-performs the Auto Components industry average of 13%.
View our latest analysis for Motorcar Parts of America
roce
Above you can see how the current ROCE for Motorcar Parts of America compares to its prior returns on capital, but there's only so much you can tell from the past. If you'd like to see what analysts are forecasting going forward, you should check out our free report for Motorcar Parts of America.
So How Is Motorcar Parts of America's ROCE Trending?
In terms of Motorcar Parts of America's historical ROCE movements, the trend isn't fantastic. To be more specific, ROCE has fallen from 23% over the last five years. Meanwhile, the business is utilizing more capital but this hasn't moved the needle much in terms of sales in the past 12 months, so this could reflect longer term investments. It's worth keeping an eye on the company's earnings from here on to see if these investments do end up contributing to the bottom line.
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On a side note, Motorcar Parts of America's current liabilities are still rather high at 42% of total assets. This effectively means that suppliers (or short-term creditors) are funding a large portion of the business, so just be aware that this can introduce some elements of risk. Ideally we'd like to see this reduce as that would mean fewer obligations bearing risks.
The Key Takeaway
In summary, Motorcar Parts of America is reinvesting funds back into the business for growth but unfortunately it looks like sales haven't increased much just yet. And in the last five years, the stock has given away 51% so the market doesn't look too hopeful on these trends strengthening any time soon. In any case, the stock doesn't have these traits of a multi-bagger discussed above, so if that's what you're looking for, we think you'd have more luck elsewhere.
If you want to know some of the risks facing Motorcar Parts of America we've found 2 warning signs (1 can't be ignored!) that you should be aware of before investing here.
While Motorcar Parts of America isn't earning the highest return, check out this free list of companies that are earning high returns on equity with solid balance sheets.
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.
This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
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NEWS_326 | Investors in Marten Transport, Ltd. MRTN need to pay close attention to the stock based on moves in the options market lately. That is because the Mar 17, 2023 $2.50 Call had some of the highest implied volatility of all equity options today.
What is Implied Volatility?
Implied volatility shows how much movement the market is expecting in the future. Options with high levels of implied volatility suggest that investors in the underlying stocks are expecting a big move in one direction or the other. It could also mean there is an event coming up soon that may cause a big rally or a huge sell-off. However, implied volatility is only one piece of the puzzle when putting together an options trading strategy.
What do the Analysts Think?
Clearly, options traders are pricing in a big move for Marten Transport shares, but what is the fundamental picture for the company? Currently, Marten Transport is a Zacks Rank #4 (Sell) in the Transportation - Truck industry that ranks in the Bottom 18% of our Zacks Industry Rank. Over the last 60 days, no analysts have increased their earnings estimates for the current quarter, while one analyst has revised the estimate downward. The net effect has taken our Zacks Consensus Estimate for the current quarter from 33 cents per share to 31 cents in that period.
Given the way analysts feel about Marten Transport right now, this huge implied volatility could mean there’s a trade developing. Oftentimes, options traders look for options with high levels of implied volatility to sell premium. This is a strategy many seasoned traders use because it captures decay. At expiration, the hope for these traders is that the underlying stock does not move as much as originally expected.
Looking to Trade Options?
Check out the simple yet high-powered approach that Zacks Executive VP Kevin Matras has used to close recent double and triple-digit winners. In addition to impressive profit potential, these trades can actually reduce your risk.
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Click to see the trades now >>
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Marten Transport, Ltd. (MRTN) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research |
NEWS_327 | Here are five stocks added to the Zacks Rank #1 (Strong Buy) List today:
MGIC Investment Corporation MTG: This mortgage insurance company has seen the Zacks Consensus Estimate for its current year earnings increasing 5.9% over the last 60 days.
MGIC Investment Corporation Price and Consensus
MGIC Investment Corporation Price and Consensus
MGIC Investment Corporation price-consensus-chart | MGIC Investment Corporation Quote
Sasol Limited SSL: This integrated chemical and energy company has seen the Zacks Consensus Estimate for its current year earnings increasing 15.9% over the last 60 days.
Sasol Ltd. Price and Consensus
Sasol Ltd. Price and Consensus
Sasol Ltd. price-consensus-chart | Sasol Ltd. Quote
Coca-Cola Europacific Partners PLC CCEP: This company which produces, distributes, and sells a range of non-alcoholic beverages has seen the Zacks Consensus Estimate for its current year earnings increasing 5.8% over the last 60 days.
CocaCola Europacific Partners Price and Consensus
CocaCola Europacific Partners Price and Consensus
CocaCola Europacific Partners price-consensus-chart | CocaCola Europacific Partners Quote
Okta, Inc. OKTA: This company that provides identity solutions has seen the Zacks Consensus Estimate for its current year earnings increasing 62.5% over the last 60 days.
Okta, Inc. Price and Consensus
Okta, Inc. Price and Consensus
Okta, Inc. price-consensus-chart | Okta, Inc. Quote
Euronav NV EURN: This crude oil transportation company has seen the Zacks Consensus Estimate for its current year earnings increasing 24.2% over the last 60 days.
Euronav NV Price and Consensus
Euronav NV Price and Consensus
Euronav NV price-consensus-chart | Euronav NV Quote
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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
MGIC Investment Corporation (MTG) : Free Stock Analysis Report
Sasol Ltd. (SSL) : Free Stock Analysis Report
Euronav NV (EURN) : Free Stock Analysis Report
Okta, Inc. (OKTA) : Free Stock Analysis Report
CocaCola Europacific Partners (CCEP) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research |
NEWS_328 | Here are three stocks with buy rank and strong income characteristics for investors to consider today, January 16th:
MGIC Investment Corporation MTG: This mortgage insurance company has witnessed the Zacks Consensus Estimate for its current year earnings increasing 5.9% over the last 60 days.
MGIC Investment Corporation Price and Consensus
MGIC Investment Corporation Price and Consensus
MGIC Investment Corporation price-consensus-chart | MGIC Investment Corporation Quote
This Zacks Rank #1 company has a dividend yield of 3%, compared with the industry average of nearly 2%.
MGIC Investment Corporation Dividend Yield (TTM)
MGIC Investment Corporation Dividend Yield (TTM)
MGIC Investment Corporation dividend-yield-ttm | MGIC Investment Corporation Quote
Sasol Limited SSL: This integrated chemical and energy company company has witnessed the Zacks Consensus Estimate for its current year earnings increasing almost 16% over the last 60 days.
Sasol Ltd. Price and Consensus
Sasol Ltd. Price and Consensus
Sasol Ltd. price-consensus-chart | Sasol Ltd. Quote
This Zacks Rank #1 company has a dividend yield of nearly 4%, compared with the industry average of 3.3%.
Sasol Ltd. Dividend Yield (TTM)
Sasol Ltd. Dividend Yield (TTM)
Sasol Ltd. dividend-yield-ttm | Sasol Ltd. Quote
Coca-Cola Europacific Partners PLC CCEP: This company which produces, distributes, and sells a range of non-alcoholic beverages has witnessed the Zacks Consensus Estimate for its current year earnings increasing 5.8% over the last 60 days.
CocaCola Europacific Partners Price and Consensus
CocaCola Europacific Partners Price and Consensus
CocaCola Europacific Partners price-consensus-chart | CocaCola Europacific Partners Quote
This Zacks Rank #1 company has a dividend yield of 3.9%, compared with the industry average of 0.0%.
CocaCola Europacific Partners Dividend Yield (TTM)
CocaCola Europacific Partners Dividend Yield (TTM)
CocaCola Europacific Partners dividend-yield-ttm | CocaCola Europacific Partners Quote
See the full list of top ranked stocks here.
Find more top income stocks with some of our great premium screens.
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
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MGIC Investment Corporation (MTG) : Free Stock Analysis Report
Sasol Ltd. (SSL) : Free Stock Analysis Report
CocaCola Europacific Partners (CCEP) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research |
NEWS_329 | Here are three stocks with buy rank and strong value characteristics for investors to consider today, January 16:
Hilton Grand Vacations Inc. HGV: This vacation ownership resorts company carries a Zacks Rank #1, and has witnessed the Zacks Consensus Estimate for its next year earnings increasing 2.9% over the last 60 days.
Hilton Grand Vacations Inc. Price and Consensus
Hilton Grand Vacations Inc. Price and Consensus
Hilton Grand Vacations Inc. price-consensus-chart | Hilton Grand Vacations Inc. Quote
Hilton Grand Vacations has a price-to-earnings ratio (P/E) of 11.56, compared with 30.00 for the industry. The company possesses a Value Score of B.
Hilton Grand Vacations Inc. PE Ratio (TTM)
Hilton Grand Vacations Inc. PE Ratio (TTM)
Hilton Grand Vacations Inc. pe-ratio-ttm | Hilton Grand Vacations Inc. Quote
Coca-Cola Europacific PartnersPLC CCEP: This company which produces, distributes, and sells a range of non-alcoholic beverages carries a Zacks Rank #1, and has witnessed the Zacks Consensus Estimate for its next year earnings increasing 5.8% over the last 60 days.
CocaCola Europacific Partners Price and Consensus
CocaCola Europacific Partners Price and Consensus
CocaCola Europacific Partners price-consensus-chart | CocaCola Europacific Partners Quote
Coca-Cola Europacific has a price-to-earnings ratio (P/E) of 14.65, compared with 19.04 for the S&P 500. The company possesses a Value Score of B.
CocaCola Europacific Partners PE Ratio (TTM)
CocaCola Europacific Partners PE Ratio (TTM)
CocaCola Europacific Partners pe-ratio-ttm | CocaCola Europacific Partners Quote
MGIC InvestmentCorporation MTG: This mortgage insurance company carries a Zacks Rank #1, and has witnessed the Zacks Consensus Estimate for its next year earnings increasing 5.9% over the last 60 days.
MGIC Investment Corporation Price and Consensus
MGIC Investment Corporation Price and Consensus
MGIC Investment Corporation price-consensus-chart | MGIC Investment Corporation Quote
MGIC Investment has a price-to-earnings ratio (P/E) of 5.81, compared with 17.98 for the S&P 500. The company possesses a Value Score of B.
MGIC Investment Corporation PE Ratio (TTM)
MGIC Investment Corporation PE Ratio (TTM)
MGIC Investment Corporation pe-ratio-ttm | MGIC Investment Corporation Quote
Story continues
See the full list of top ranked stocks here.
Learn more about the Value score and how it is calculated here.
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
MGIC Investment Corporation (MTG) : Free Stock Analysis Report
Hilton Grand Vacations Inc. (HGV) : Free Stock Analysis Report
CocaCola Europacific Partners (CCEP) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research |
NEWS_330 | Minerals Technologies Inc.
NEW YORK, Jan. 16, 2023 (GLOBE NEWSWIRE) -- Minerals Technologies Inc. (NYSE: MTX) (“MTI” or “the Company”) announced today that it will release results for its fourth quarter ended December 31, 2022, on Thursday, February 2, 2023, after the market close. The Company will host a conference call on Friday, February 3, 2023, at 11:00 a.m. Eastern Time to discuss these results.
The conference call will be webcast and can be accessed at Minerals Technologies’ website at www.mineralstech.com. To listen to the call, go to the MTI website and click on "Investor Relations," then click on "Quarterly Results & Conference Calls."
About Minerals Technologies Inc.
New York-based Minerals Technologies Inc. (MTI) is a global resource- and technology-based company that develops, produces, and markets a broad range of specialty mineral, mineral-based and synthetic mineral products and related systems and services. MTI serves the consumer products, paper & packaging, foundry, steel, construction, environmental, energy, and polymer industries. The Company reported sales of $1.9 billion in 2021. For further information, please visit our website at www.mineralstech.com. (MTI-G)
Investor Contact:
Erik Aldag, (212) 878-1831
Media Contact:
Jennifer Albert, (212) 878-1884
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NEWS_331 | MUNICH, GERMANY / ACCESSWIRE / January 16, 2023 / Mynaric (NASDAQ:MYNA)(FRA:M0YN), a leading provider of industrialized, cost-effective and scalable laser communications products, today reported on key performance indicators for the year ending December 31, 2022.
As of December 31, 2022, the optical communications terminal backlog and cash-in from customer contracts is as follows:
Optical communications terminal backlog: 256 units (FY22 guidance as of October 25, 2022: >250 units)
Cash-in from customer contracts: EUR 18.3 million (FY22 guidance as of October 25, 2022: EUR >20 million) with an additional approximately EUR 11 million invoiced in December 2022 of which EUR 1.1 million was received in early January and the remaining to be received by month end
Not included in the reported backlog and cash-in from customer contracts is the $24 million contract win announced on January 9, 2023.
The vast majority of the optical communications terminals in backlog as of December 31, 2022 includes deliverables with key aerospace and defense customers that are related to government-funded satellite constellations with the bulk deliveries scheduled to start in the second half of 2023 and continue into 2024, which provides Mynaric with excellent revenue and cash flow visibility on these programs.
"Mynaric finished 2022 strongly as the team executed extremely well achieving our backlog targets while delivering initial terminals to and hitting important milestones for our customers," said Bulent Altan, CEO of Mynaric. "In 2023 we plan to produce and ship significant quantities of optical communications terminals to customers as part of contracted and prospective programs. We expect multiple large opportunities will hit the market in 2023 and we believe Mynaric is very well positioned to capitalize on what we anticipate will be a strong year and decade of growth for laser communications."
"The record amount of cash-in from customers received in 2022 and early 2023 demonstrates our strong track record of execution for our customers on both existing and new programs," said Stefan Berndt-von Buelow, CFO of Mynaric.
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About Mynaric
Mynaric (NASDAQ:MYNA)(FRA:M0YN) is leading the industrial revolution of laser communications by producing optical communications terminals for air, space and mobile applications. Laser communication networks provide connectivity from the sky, allowing for ultra-high data rates and secure, long-distance data transmission between moving objects for wireless terrestrial, mobility, airborne- and space-based applications. The company is headquartered in Munich, Germany, with additional locations in Los Angeles, California, and Washington, D.C.
Forward-Looking Statement
This release includes forward-looking statements. All statements other than statements of historical or current facts contained in this release, including statements regarding our future results of operations and financial position, industry dynamics, business strategy and plans and our objectives for future operations, are forward-looking statements. These statements represent our opinions, expectations, assumptions, beliefs, intentions, estimates or strategies regarding the future, which may not be realized. Forward looking statements are often indicated by terms such as "anticipate," "believe," "could," "estimate," "expect," "forecast," "goal," "intend," "look forward to," "may," "plan," "potential," "predict," "project," "should," "target" "will," "would" and/or the negative of these terms or other similar expressions that are intended to identify forward-looking statements.
The forward-looking statements included in this release are based largely on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy, short-term and long-term business operations and objectives, and financial needs. These forward-looking statements involve known and unknown risks, uncertainties and assumptions that are difficult to predict or are beyond our control, and actual results may differ materially from those expected or implied as forward looking statements. These risks, uncertainties and assumptions include, but are not limited to (i) the impact of any geopolitical tensions or the global COVID-19 pandemic on the global economy, our industry and markets as well as our business, (ii) risks related to our limited operating history, our history of significant losses and the execution of our business strategy, (iii) risks related to our ability to successfully manufacture and deploy our products and risks related to serial production of our products, (iv) risks related to our sales cycle which can be long and complicated, (v) risks related to our limited experience with order processing, our dependency on third-party suppliers and external procurement risks, (vi) risks related to defects or performance problems in our products, (vii) effects of competition and the development of the market for laser communication technology in general, (viii) risks related to our ability to manage future growth effectively and to obtain sufficient financing for the operations and ongoing growth of our business, (ix) risks relating to the uncertainty of the projected financial information, (x) risks related to our ability to adequately protect our intellectual property and proprietary rights and (xi) changes in regulatory requirements, governmental incentives and market developments. Moreover, new risks emerge from time to time. It is not possible for our management to predict all risks, nor can we assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ from those contained in any forward-looking statements we may make. In light of these risks, uncertainties and assumptions, the forward-looking events and circumstances discussed in this release may not occur and actual results could differ materially and adversely from those anticipated or implied in the forward-looking statements. We caution you therefore against relying on these forward-looking statements, and we qualify all of our forward-looking statements by these cautionary statements.
The forward-looking statements included in this release are made only as of the date hereof. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee that the future results, levels of activity, performance or events and circumstances reflected in the forward-looking statements will be achieved or occur. Neither we nor any other person assumes responsibility for the accuracy and completeness of the forward-looking statements. Unless required under applicable law, neither we nor any other person undertakes any obligation to update any forward-looking statement to reflect events or circumstances after the date of this release or otherwise. You should read this release with the understanding that our actual future results, levels of activity, performance and events and circumstances may materially differ from what we expect.
This release may include certain financial measures not presented in accordance with IFRS. Such financial measures are not measures of financial performance in accordance with IFRS and may exclude items that are significant in understanding and assessing our financial results. Therefore, these measures should not be considered in isolation or as an alternative to loss for the period or other measures of profitability, liquidity or performance under IFRS. You should be aware that our presentation of these measures may not be comparable to similarly titled measures used by other companies, which may be defined and calculated differently.
For more information, visit mynaric.com.
Contact
Tom Dinges, CFA
Vice President of Investor Relations
tom.dinges@mynaric.com
SOURCE: Mynaric AG
View source version on accesswire.com:
https://www.accesswire.com/735343/Mynaric-Reports-on-Key-Performance-Indicators-for-2022
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NEWS_332 | Shares of National Bank of Canada NA, -0.46% slipped 0.46% to C$97.66 Monday, in what proved to be an otherwise all-around positive trading session for the Canadian market, with the S&P/TSX Composite Index GSPTSE, +0.15% rising 0.15% to 20,390.33. National Bank of Canada closed C$7.17 short of its 52-week high (C$104.83), which the company reached on February 9th. Trading volume of 458,771 shares remained below its 50-day average volume of 1.4 M.
Editor's Note: This story was auto-generated by Automated Insights, an automation technology provider, using data from Dow Jones and FactSet. See our market data terms of use. |
NEWS_333 | NATICK, Mass., January 12, 2023--(BUSINESS WIRE)--Cognex Corporation (NASDAQ: CGNX) will release earnings for the fourth quarter of 2022 on Thursday, February 16, 2023, after the market closes, and will host a conference call that same day at 5:00 p.m. Eastern Standard Time (EST). The earnings release and conference call are scheduled to coincide with the company’s expected filing of its Form 10-K for the year ended December 31, 2022.
The telephone number for the live call is (877) 704-4573 (or (201) 389-0911 if outside the United States). A replay will begin at 8:00 p.m. EST on Thursday, February 16, 2023, and will run continuously until 11:59 p.m. EST on Sunday, February 19, 2023. The telephone number for the replay is (877) 660-6853 (or (201) 612-7415 if outside the United States) and the access code is 1373 4893.
Internet users can listen to a real-time audio broadcast of the conference call or an archived recording on the Cognex Investor Relations website: https://www.cognex.com/Investor.
About Cognex
Cognex Corporation designs, develops, manufactures and markets a wide range of image-based products, all of which use artificial intelligence (AI) techniques that give them the human-like ability to make decisions on what they see. Cognex products include machine vision systems, machine vision sensors and barcode readers that are used in factories and distribution centers around the world where they eliminate production and shipping errors.
Cognex is the world's leader in the machine vision industry, having shipped more than 3 million image-based products, representing over $9 billion in cumulative revenue, since the company's founding in 1981. Headquartered in Natick, Massachusetts, USA, Cognex has offices and distributors located throughout the Americas, Europe and Asia. For details visit Cognex online at www.cognex.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20230112005174/en/
Contacts
Nathan McCurren
Head of Investor Relations
+1 508-654-1755
Nathan.McCurren@cognex.com |
NEWS_334 | LOS ANGELES, January 11, 2023--(BUSINESS WIRE)--Capstone Green Energy Corporation (NASDAQ: CGRN), a global leader in carbon reduction and on-site resilient green energy solutions, will be participating in Renmark Financial Communications Inc.'s live Virtual Non-Deal Roadshow Series to discuss its latest investor presentation on Thursday, January 12 at 1:00 p.m. CT.
The virtual presentation is marketed to Dallas and surrounding areas and will feature Darren Jamison, President and Chief Executive Officer and Scott Robinson, Chief Financial Officer. Capstone welcomes all stakeholders, investors, and other interested individuals to register and attend this live event.
The investor presentation will be followed by a live Q&A. Investors interested in participating in this event will need to register using the links below. As a reminder, registration for the live event may be limited, and access to the replay after the event will be on the Investor Relations section of the Company's website.
Thursday, January 12 at 1:00 p.m. CT
Register Here
To ensure smooth connectivity, please access this link using the latest version of Google Chrome.
About Capstone Green Energy
Capstone Green Energy (NASDAQ: CGRN) is a leading provider of customized microgrid solutions and on-site energy technology systems focused on helping customers around the globe meet their environmental, energy savings, and resiliency goals. Capstone Green Energy focuses on four key business lines. Through its Energy as a Service (EaaS) business, it offers rental solutions utilizing its microturbine energy systems and battery storage systems, comprehensive Factory Protection Plan (FPP) service contracts that guarantee life-cycle costs, as well as aftermarket parts. Energy Generation Technologies (EGT) are driven by the Company's industry-leading, highly efficient, low-emission, resilient microturbine energy systems offering scalable solutions in addition to a broad range of customer-tailored solutions, including hybrid energy systems and larger frame industrial turbines. The Energy Storage Solutions (ESS) business line designs and installs microgrid storage systems creating customized solutions using a combination of battery technologies and monitoring software. Through Hydrogen & Sustainable Products (H2S), Capstone Green Energy offers customers a variety of hydrogen products, including the Company's microturbine energy systems.
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To date, Capstone has shipped over 10,000 units to 83 countries and estimates that in FY22, it saved customers over $213 million in annual energy costs and approximately 388,000 tons of carbon. Total savings over the last four years are estimated to be approximately $911 million in energy savings and approximately 1,503,100 tons of carbon savings.
For customers with limited capital or short-term needs, Capstone offers rental systems; for more information, contact: rentals@CGRNenergy.com.
For more information about the Company, please visit www.CapstoneGreenEnergy.com. Follow Capstone Green Energy on Twitter, LinkedIn, Instagram, Facebook, and YouTube.
About Renmark Financial Communications Inc.
Founded in 1999, Renmark Financial Communications Inc. is North America's leading retail investor relations firm. Employing a strategic and comprehensive mix of exposure tactics; Renmark hosts Virtual Non-Deal Roadshows as well as in-person corporate presentations and maintains daily communications with thousands of brokers and money managers across Canada and the United States. Renmark empowers its publicly traded clientele to maximize their visibility within the financial community and strengthen their investor audience.
View source version on businesswire.com: https://www.businesswire.com/news/home/20230111005334/en/
Contacts
Renmark Financial Communications Inc.
Scott Logan: slogan@renmarkfinancial.com
Tel: (416) 644-2020 or (212) 812-7680
www.renmarkfinancial.com
Capstone Green Energy
Investor and investment media inquiries:
818-407-3628
ir@CGRNenergy.com |
NEWS_335 | The Microturbine Powered Combined Heat & Power (CHP) System for the Textile Finishing Company Will Be the First of Its Kind in Germany
The Offshore Systems Are a Repeat Order for an Existing Capstone Customer
LOS ANGELES, January 09, 2023--(BUSINESS WIRE)--Capstone Green Energy Corporation (NASDAQ: CGRN), announced that E-quad Power Systems GmbH, Capstone’s long-time distributor for Belgium, Denmark, Germany, and the Netherlands, has secured two new orders. The first is an order for a C200S microturbine-based combined heat and power (CHP) system for a leading textile finishing company. The second order is for four 65kW high-pressure natural gas (HPNG), dual mode (DM), high humidity offshore systems for an offshore gas production company with assets in the North Sea that is a loyal Capstone customer.
The C200S microturbine-based CHP system is for leading textile finishing company Gerhard van Clewe GmbH & Co.KG, based in Hamminkeln, Germany. The system is expected to be commissioned in May 2023 and will be fueled by high-pressure natural gas. The C200S will provide up to 200kW of electricity to the plant, while the exhaust produced by the microturbine will be captured for use in the material drying process as well as the production of warm water for the facility.
The company first considered microturbine technology due to rising electricity costs compared to the low cost of natural gas. As a company with a sustainability mission, they also valued the high efficiency and emissions reduction that a CHP system delivers.
"Between the cost savings and environmental benefits, we are especially excited to be a development partner in this first-of-its-kind application," said Ansgar van Clewe, Principle at Gerhard van Clewe. "Given the technology’s ready availability and Capstone’s good reputation in the space, we felt comfortable working with their distributor E-quad Power Systems."
The four C65 offshore systems will be deployed with an existing Capstone offshore gas exploration customer who is an advocate for sustainable energy sources. They strongly believe that until there are sufficient sustainable alternatives available, the use of natural gas is an effective method to reduce CO2 output immediately. Natural gas can therefore provide an optimal contribution towards providing climate neutral energy.
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"The Capstone Green Energy microturbine-based CHP systems have proven time and again to be tremendously beneficial across the manufacturing space, providing reliable, highly efficient power, but also fulfilling facility heating, drying and cooling needs, which has the added benefit of lowering facility emissions," said Darren Jamison, Chief Executive Officer of Capstone Green Energy.
"Capstone's green energy solutions align perfectly with the needs of the oil and gas industry and are currently used in all phases of production, including upstream, midstream, and downstream operations in both onshore and offshore applications. Capstone's technology provides the low operational cost, high availability, and high-reliability global energy producers need, particularly in a world where energy prices are not likely to be dropping any time soon," concluded Jamison.
About Capstone Green Energy
Capstone Green Energy (www.CapstoneGreenEnergy.com) (NASDAQ: CGRN) is a leading provider of customized microgrid solutions and on-site energy technology systems focused on helping customers around the globe meet their environmental, energy savings, and resiliency goals. Capstone Green Energy focuses on four key business lines. Through its Energy as a Service (EaaS) business, it offers rental solutions utilizing its microturbine energy systems and battery storage systems, comprehensive Factory Protection Plan (FPP) service contracts that guarantee life-cycle costs, as well as aftermarket parts. Energy Generation Technologies (EGT) are driven by the Company's industry-leading, highly efficient, low-emission, resilient microturbine energy systems offering scalable solutions in addition to a broad range of customer-tailored solutions, including hybrid energy systems and larger frame industrial turbines. The Energy Storage Solutions (ESS) business line designs and installs microgrid storage systems creating customized solutions using a combination of battery technologies and monitoring software. Through Hydrogen & Sustainable Products (H2S), Capstone Green Energy offers customers a variety of hydrogen products, including the Company's microturbine energy systems.
To date, Capstone has shipped over 10,000 units to 83 countries and estimates that in FY22, it saved customers over $213 million in annual energy costs and approximately 388,000 tons of carbon. Total savings over the last four years are estimated to be approximately $911 million in energy savings and approximately 1,503,100 tons of carbon savings.
For more information about the Company, please visit: www.CapstoneGreenEnergy.com. Follow Capstone Green Energy on Twitter, LinkedIn, Instagram, Facebook, and YouTube.
Cautionary Note Regarding Forward-Looking Statements
This release contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995, including statements regarding expectations for green initiatives and execution on the Company's growth strategy and other statements regarding the Company's expectations, beliefs, plans, intentions, and strategies. The Company has tried to identify these forward-looking statements by using words such as "expect," "anticipate," "believe," "could," "should," "estimate," "intend," "may," "will," "plan," "goal" and similar terms and phrases, but such words, terms and phrases are not the exclusive means of identifying such statements. Actual results, performance and achievements could differ materially from those expressed in, or implied by, these forward-looking statements due to a variety of risks, uncertainties and other factors, including, but not limited to, the following: the ongoing effects of the COVID-19 pandemic; the availability of credit and compliance with the agreements governing the Company's indebtedness; the Company's ability to develop new products and enhance existing products; product quality issues, including the adequacy of reserves therefor and warranty cost exposure; intense competition; financial performance of the oil and natural gas industry and other general business, industry and economic conditions; the Company's ability to adequately protect its intellectual property rights; and the impact of pending or threatened litigation. For a detailed discussion of factors that could affect the Company's future operating results, please see the Company's filings with the Securities and Exchange Commission, including the disclosures under "Risk Factors" in those filings. Except as expressly required by the federal securities laws, the Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, changed circumstances or future events or for any other reason.
View source version on businesswire.com: https://www.businesswire.com/news/home/20230109005195/en/
Contacts
Capstone Green Energy
Investor and investment media inquiries:
818-407-3628
ir@CGRNenergy.com |
NEWS_336 | Live Virtual Presentation on Wednesday, January 18 at 4:00 P.M. ET
LOS ANGELES, January 13, 2023--(BUSINESS WIRE)--Capstone Green Energy Corporation (NASDAQ: CGRN), a global leader in carbon reduction and on-site resilient green Energy as a Service (EaaS) solutions, will be presenting virtually at the upcoming Sidoti January Micro-Cap Virtual Investor Conference on Wednesday, January 18, 2023, at 4:00 P.M. ET (1:00 P.M. PT). Darren Jamison, Capstone Green Energy’s President and Chief Executive Officer, will be presenting to a live virtual audience and answering questions from investors.
"Over the last several months Capstone has seen tremendous interest in our products and evolving business model. Capstone’s growing Energy as a Service (EaaS) business is a story that investors need to learn more about as it drives higher margins, generates more constant and predictable revenue, and enables us to leverage a more streamlined staffing model relative to a traditional industrial manufacturing company. We are seeing interest and orders across industries from new and repeat customers. Coupled with the anticipated opportunities created by the new U.S. Inflation Reduction Act (IRA), it’s a great time for investors to learn more about Capstone Green Energy which is why we are pleased to return to the Sidoti Conference," said Darren Jamison, Capstone’s President and Chief Executive Officer.
Presentation Details
Date: Wednesday, January 18, 2023
Time: 4:00 P.M. ET (1:00 P.M. PT)
Investors and other interested individuals may access the virtual presentation by registering here: Capstone Green Energy (CGRN) Virtual Presentation Link
One-on-One Meetings
Darren Jamison, Capstone’s President and Chief Executive Officer, and Scott Robinson, Capstone Green Energy Chief Financial Officer, will be conducting one-on-one virtual meetings with qualified professional investors throughout both days of the conference on January 18 & 19, 2023. To register and schedule a time with management, please follow this link: Sidoti January Micro-Cap Virtual Investor Conference Registration.
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Supporting presentation materials will be available on the conference day by visiting the Investor Relations section of the company’s website at www.capstonegreenenergy.com.
About Sidoti & Company
For more than two decades, Sidoti & Company (http://www.sidoti.com) has been a premier provider of independent securities research focused specifically on small and microcap companies and the institutions that invest in their securities. The firm serves nearly 500 institutional clients in the U.S., Canada, and the U.K., including many leading portfolio managers with $200 million to $2 billion of assets.
About Capstone Green Energy
Capstone Green Energy (www.CapstoneGreenEnergy.com) (NASDAQ: CGRN) is a leading provider of customized microgrid solutions and on-site energy technology systems focused on helping customers around the globe meet their environmental, energy savings and resiliency goals. Capstone Green Energy focuses on four key business lines. Through its Energy as a Service (EaaS) business, it offers rental solutions utilizing its microturbine energy systems and battery storage systems, comprehensive Factory Protection Plan (FPP) service contracts that guarantee life-cycle costs, as well as aftermarket parts. Energy Generation Technologies (EGT) is driven by the Company's industry-leading, highly efficient, low-emission, resilient microturbine energy systems offering scalable solutions in addition to a broad range of customer-tailored solutions, including hybrid energy systems and larger frame industrial turbines. The Energy Storage Solutions (ESS) business line designs and installs microgrid storage systems creating customized solutions using a combination of battery technologies and monitoring software. Through Hydrogen & Sustainable Products (H2S), Capstone Green Energy offers customers a variety of hydrogen products, including the Company's microturbine energy systems.
To date, Capstone has shipped over 10,000 units to 83 countries and estimates that in FY22, it saved customers over $213 million in annual energy costs and approximately 388,000 tons of carbon. Total savings over the last four years are estimated to be approximately $911 million in energy savings and approximately 1,503,100 tons of carbon savings.
For more information about the Company, please visit: www.CapstoneGreenEnergy.com. Follow Capstone Green Energy on Twitter, LinkedIn, Instagram, Facebook, and YouTube.
Cautionary Note Regarding Forward-Looking Statements
This release contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995, including statements regarding expectations for green initiatives and execution on the Company's growth strategy and other statements regarding the Company's expectations, beliefs, plans, intentions, and strategies. The Company has tried to identify these forward-looking statements by using words such as "expect," "anticipate," "believe," "could," "should," "estimate," "intend," "may," "will," "plan," "goal" and similar terms and phrases, but such words, terms and phrases are not the exclusive means of identifying such statements. Actual results, performance and achievements could differ materially from those expressed in, or implied by, these forward-looking statements due to a variety of risks, uncertainties and other factors, including, but not limited to, the following: the ongoing effects of the COVID-19 pandemic; the availability of credit and compliance with the agreements governing the Company's indebtedness; the Company's ability to develop new products and enhance existing products; product quality issues, including the adequacy of reserves therefor and warranty cost exposure; intense competition; financial performance of the oil and natural gas industry and other general business, industry and economic conditions; the Company's ability to adequately protect its intellectual property rights; and the impact of pending or threatened litigation. For a detailed discussion of factors that could affect the Company's future operating results, please see the Company's filings with the Securities and Exchange Commission, including the disclosures under "Risk Factors" in those filings. Except as expressly required by the federal securities laws, the Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, changed circumstances or future events or for any other reason.
View source version on businesswire.com: https://www.businesswire.com/news/home/20230113005056/en/
Contacts
Capstone Green Energy
Investor and investment media inquiries:
818-407-3628
ir@CGRNenergy.com |
NEWS_337 | Regular readers will know that we love our dividends at Simply Wall St, which is why it's exciting to see City Holding Company (NASDAQ:CHCO) is about to trade ex-dividend in the next two days. The ex-dividend date occurs one day before the record date which is the day on which shareholders need to be on the company's books in order to receive a dividend. The ex-dividend date is important because any transaction on a stock needs to have been settled before the record date in order to be eligible for a dividend. Accordingly, City Holding investors that purchase the stock on or after the 12th of January will not receive the dividend, which will be paid on the 31st of January.
The company's next dividend payment will be US$0.65 per share, on the back of last year when the company paid a total of US$2.60 to shareholders. Looking at the last 12 months of distributions, City Holding has a trailing yield of approximately 2.8% on its current stock price of $92.28. Dividends are a major contributor to investment returns for long term holders, but only if the dividend continues to be paid. As a result, readers should always check whether City Holding has been able to grow its dividends, or if the dividend might be cut.
See our latest analysis for City Holding
Dividends are typically paid out of company income, so if a company pays out more than it earned, its dividend is usually at a higher risk of being cut. City Holding paid out a comfortable 39% of its profit last year.
Generally speaking, the lower a company's payout ratios, the more resilient its dividend usually is.
Click here to see the company's payout ratio, plus analyst estimates of its future dividends.
Have Earnings And Dividends Been Growing?
Companies with consistently growing earnings per share generally make the best dividend stocks, as they usually find it easier to grow dividends per share. If earnings fall far enough, the company could be forced to cut its dividend. For this reason, we're glad to see City Holding's earnings per share have risen 13% per annum over the last five years.
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The main way most investors will assess a company's dividend prospects is by checking the historical rate of dividend growth. Since the start of our data, 10 years ago, City Holding has lifted its dividend by approximately 6.4% a year on average. It's encouraging to see the company lifting dividends while earnings are growing, suggesting at least some corporate interest in rewarding shareholders.
The Bottom Line
Is City Holding an attractive dividend stock, or better left on the shelf? When companies are growing rapidly and retaining a majority of the profits within the business, it's usually a sign that reinvesting earnings creates more value than paying dividends to shareholders. This strategy can add significant value to shareholders over the long term - as long as it's done without issuing too many new shares. City Holding ticks a lot of boxes for us from a dividend perspective, and we think these characteristics should mark the company as deserving of further attention.
So while City Holding looks good from a dividend perspective, it's always worthwhile being up to date with the risks involved in this stock. For example - City Holding has 1 warning sign we think you should be aware of.
Generally, we wouldn't recommend just buying the first dividend stock you see. Here's a curated list of interesting stocks that are strong dividend payers.
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.
This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
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NEWS_338 | Shares of Church & Dwight Co. CHD, +0.64% slipped 0.40% to $81.39 Thursday, on what proved to be an all-around favorable trading session for the stock market, with the S&P 500 Index SPX, +0.40% rising 0.34% to 3,983.17 and the Dow Jones Industrial Average DJIA, +0.33% rising 0.64% to 34,189.97. Church & Dwight Co. closed $23.89 short of its 52-week high ($105.28), which the company achieved on April 27th.
Despite its losses, the stock outperformed some of its competitors Thursday, as Procter & Gamble Co. PG, +0.71% fell 0.56% to $149.81. Trading volume (1.2 M) remained 335,681 below its 50-day average volume of 1.5 M. |
NEWS_339 | Shares of Church & Dwight Co. CHD, +0.64% inched 0.64% higher to $81.91 Friday, on what proved to be an all-around favorable trading session for the stock market, with the S&P 500 Index SPX, +0.40% rising 0.40% to 3,999.09 and the Dow Jones Industrial Average DJIA, +0.33% rising 0.33% to 34,302.61. Church & Dwight Co. closed $23.37 below its 52-week high ($105.28), which the company achieved on April 27th.
The stock underperformed when compared to some of its competitors Friday, as Procter & Gamble Co. PG, +0.71% rose 0.71% to $150.88. Trading volume (778,184) remained 639,059 below its 50-day average volume of 1.4 M. |
NEWS_340 | Shares of Church & Dwight Co. CHD, +0.64% inched 0.53% higher to $81.72 Wednesday, on what proved to be an all-around positive trading session for the stock market, with the S&P 500 Index SPX, +0.40% rising 1.28% to 3,969.61 and the Dow Jones Industrial Average DJIA, +0.33% rising 0.80% to 33,973.01. The stock's rise snapped a two-day losing streak. Church & Dwight Co. closed $23.56 short of its 52-week high ($105.28), which the company achieved on April 27th.
The stock outperformed some of its competitors Wednesday, as Procter & Gamble Co. PG, +0.71% fell 0.81% to $150.66. Trading volume (1.1 M) remained 482,764 below its 50-day average volume of 1.5 M. |
NEWS_341 | Shares of Church & Dwight Co. CHD, +0.64% slid 1.60% to $82.25 Monday, on what proved to be an all-around dismal trading session for the stock market, with the S&P 500 Index SPX, +0.40% falling 0.08% to 3,892.09 and Dow Jones Industrial Average DJIA, +0.33% falling 0.34% to 33,517.65. Church & Dwight Co. closed $23.03 short of its 52-week high ($105.28), which the company achieved on April 27th.
The stock underperformed when compared to some of its competitors Monday, as Procter & Gamble Co. PG, +0.71% fell 1.22% to $152.04. Trading volume (1.6 M) eclipsed its 50-day average volume of 1.6 M. |
NEWS_342 | Churchill Downs Incorporated
LOUISVILLE, Ky., Jan. 09, 2023 (GLOBE NEWSWIRE) -- Churchill Downs Incorporated (“CDI” or the “Company”) (Nasdaq: CHDN) announced today that Presque Isle Downs & Casino (“Presque Isle”), the Company’s wholly-owned subsidiary, has entered into a multi-year agreement with a wholly-owned U.S. subsidiary of bet365 Group Ltd (“bet365") for online sports betting and iGaming market access in Pennsylvania, subject to necessary regulatory approvals.
“We are pleased to partner with a global leader in the online gaming industry,” said Bill Carstanjen, CEO of CDI. “Our relationship with bet365 enables us to maximize the value of our company’s sports betting and iGaming market access in Pennsylvania.”
The bet365 agreement is consistent with CDI’s strategy to exit the online sports and casino business, monetize the Company’s online sports and iGaming market access rights and remain focused on growing the TwinSpires online horseracing wagering business.
“Off the heels of our launch in Ohio, we are thrilled to announce our partnership with Churchill Downs Incorporated,” a bet365 spokesperson said. “Once live, the world’s favorite online sports betting brand will be available to sports fans in Pennsylvania, offering fantastic site features, including Bet Boosts, Same Game Parlay, Cash Out and Edit Bet, on top of our market-leading sign-up offer.”
About Churchill Downs Incorporated
Churchill Downs Incorporated (“CDI”, NASDAQ: CHDN) has been creating extraordinary entertainment experiences for nearly 150 years, beginning with the company’s most iconic and enduring asset, the Kentucky Derby. Headquartered in Louisville, Kentucky, CDI has expanded through the development of live and historical racing entertainment venues, the growth of the TwinSpires horse racing online wagering business and the operation and development of regional casino gaming properties. More information is available at www.churchilldownsincorporat e d.com .
About bet365
bet365 is the world’s largest online sports betting company with annual sportsbook revenues of almost $4 billion and over 6,000 employees around the globe. On its world-class proprietary product, bet365 offers the industry’s widest range of ‘In-Game’ sports betting events with over 75 sports covered and over 780,000 events being live video-streamed annually to 88 million registered customers from over 160 countries across the world.
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Cultural and linguistic zones around the globe are serviced using geo-specific content and 21 different languages to enhance the customer experience, which is further improved through the offering of 23 different deposit currencies and 50 payment methods.
bet365 has extensive experience working with local licensing, regulatory and reporting requirements across its global footprint and pays substantial duties and license fees in each of those jurisdictions.
bet365 has a range of useful tools to help you stay in control of your gambling that can be found at https://responsiblegaming.oh.bet365.com/us , https://responsiblegaming.nj.bet365.com/us or https://responsiblegaming.co.bet365.com/us
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This news release contains various “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are typically identified by the use of terms such as “anticipate,” “believe,” “could,” “estimate,” “expect,” “intend,” “may,” “might,” “plan,” “predict,” “project,” “seek,” “should,” “will,” and similar words or similar expressions (or negative versions of such words or expressions).
Although we believe that the expectations reflected in such forward-looking statements are reasonable, we can give no assurance that such expectations will prove to be correct. Important factors, among others, that may materially affect actual results or outcomes include the following: the impact of the novel coronavirus (COVID-19) pandemic, including the emergence of variant strains, and related economic matters on our results of operations, financial conditions and prospects; the occurrence of extraordinary events, such as terrorist attacks, public health threats, civil unrest, and inclement weather; the effect of economic conditions on our consumers' confidence and discretionary spending or our access to credit; additional or increased taxes and fees; the impact of significant competition, and the expectation the competition levels will increase; changes in consumer preferences, attendance, wagering, and sponsorships; loss of key or highly skilled personnel; lack of confidence in the integrity of our core businesses or any deterioration in our reputation; risks associated with equity investments, strategic alliances and other third-party agreements; inability to respond to rapid technological changes in a timely manner; concentration and evolution of slot machine manufacturing and other technology conditions that could impose additional costs; inability to negotiate agreements with industry constituents, including horsemen and other racetracks; inability to identify and complete expansion, acquisition or divestiture projects, on time, on budget or as planned; difficulty in integrating recent or future acquisitions into our operations; costs and uncertainties relating to the development of new venues and expansion of existing facilities; general risks related to real estate ownership and significant expenditures, including fluctuations in market values and environmental regulations; reliance on our technology services and catastrophic events and system failures disrupting our operations; online security risk, including cyber-security breaches, or loss or misuse of our stored information as a result of a breach, including customers’ personal information, could lead to government enforcement actions or other litigation; personal injury litigation related to injuries occurring at our racetracks; compliance with the Foreign Corrupt Practices Act or applicable money-laundering regulations; payment-related risks, such as risk associated with fraudulent credit card and debit card use; work stoppages and labor issues; risks related to pending or future legal proceedings and other actions; highly regulated operations and changes in the regulatory environment could adversely affect our business; restrictions in our debt facilities limiting our flexibility to operate our business; failure to comply with the financial ratios and other covenants in our debt facilities and other indebtedness; and increase in our insurance costs, or obtain similar insurance coverage in the future, and inability to recover under our insurance policies for damages sustained at our properties in the event of inclement weather and casualty events.
We do not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
Investor Contact: Nick Zangari Media Contact: Tonya Abeln (502) 394-1157 (502) 386-1742 Nick.Zangari@KyDerby.com Tonya.Abeln@KyDerby.com
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NEWS_343 | Churchill Downs Incorporated
LOUISVILLE, Ky., Jan. 13, 2023 (GLOBE NEWSWIRE) -- Churchill Downs Incorporated (“CDI” or “the Company”) announced today that the Company will release fourth quarter and full year 2022 financial results after the market closes on Wednesday, February 22, 2023, and host a related conference call to discuss the quarter on Thursday, February 23, 2023, at 9 a.m. ET.
Investors and other interested parties may listen to the call by accessing the online, real-time webcast at http://ir.churchilldownsincorporated.com/events.cfm or by registering in advance via teleconference here. Once registration is completed, participants will be provided with a dial-in number containing a personalized conference code to access the call. All participants are encouraged to dial-in 15 minutes prior to the start time. An online replay of the call will be available at http://ir.churchilldownsincorporated.com/events.cfm by noon ET on Thursday, February 23, 2023.
A copy of CDI’s news release announcing quarterly results and relevant financial and statistical information about the period will be accessible at www.churchilldownsincorporated.com.
About Churchill Downs Incorporated
Churchill Downs Incorporated (“CDI”, NASDAQ: CHDN) has been creating extraordinary entertainment experiences for nearly 150 years, beginning with the company’s most iconic and enduring asset, the Kentucky Derby. Headquartered in Louisville, Kentucky, CDI has expanded through the development of live and historical racing entertainment venues, the growth of the TwinSpires horse racing online wagering business and the operation and development of regional casino gaming properties. More information is available at http://www.churchilldownsincorporated.com.
Contact: Nick Zangari
(502) 394-1157
Nick.Zangari@kyderby.com
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NEWS_344 | The Chefs' Warehouse, Inc.
RIDGEFIELD, Conn., Jan. 03, 2023 (GLOBE NEWSWIRE) -- The Chefs’ Warehouse, Inc. (NASDAQ:CHEF) (the “Company”), a premier distributor of specialty food products in North America and the Middle East, today announced that the Company will present at the 25th Annual ICR Conference in Orlando, FL on Monday, January 9, 2023. The presentation will begin at 3:30 p.m. ET.
Investors and interested parties may listen to a webcast of the presentation by visiting the Company’s investor relations website at http://investors.chefswarehouse.com/.
About The Chefs’ Warehouse
The Chefs’ Warehouse, Inc. is a premier distributor of specialty food products in the United States, Canada and the Middle East focused on serving the specific needs of chefs who own and/or operate some of the nation’s leading menu-driven independent restaurants, fine dining establishments, country clubs, hotels, caterers, culinary schools, bakeries, patisseries, chocolateries, cruise lines, casinos and specialty food stores. The Chefs’ Warehouse, Inc. carries and distributes more than 55,000 products to more than 40,000 customer locations throughout the United States, Canada and the Middle East.
Contact:
Investor Relations
Jim Leddy, CFO, (718) 684-8415
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NEWS_345 | One of the best investments we can make is in our own knowledge and skill set. With that in mind, this article will work through how we can use Return On Equity (ROE) to better understand a business. By way of learning-by-doing, we'll look at ROE to gain a better understanding of Chegg, Inc. (NYSE:CHGG).
Return on equity or ROE is a key measure used to assess how efficiently a company's management is utilizing the company's capital. In short, ROE shows the profit each dollar generates with respect to its shareholder investments.
See our latest analysis for Chegg
How To Calculate Return On Equity?
ROE can be calculated by using the formula:
Return on Equity = Net Profit (from continuing operations) ÷ Shareholders' Equity
So, based on the above formula, the ROE for Chegg is:
28% = US$289m ÷ US$1.0b (Based on the trailing twelve months to September 2022).
The 'return' is the amount earned after tax over the last twelve months. Another way to think of that is that for every $1 worth of equity, the company was able to earn $0.28 in profit.
Does Chegg Have A Good Return On Equity?
One simple way to determine if a company has a good return on equity is to compare it to the average for its industry. However, this method is only useful as a rough check, because companies do differ quite a bit within the same industry classification. As is clear from the image below, Chegg has a better ROE than the average (12%) in the Consumer Services industry.
roe
That is a good sign. Bear in mind, a high ROE doesn't always mean superior financial performance. Aside from changes in net income, a high ROE can also be the outcome of high debt relative to equity, which indicates risk. To know the 3 risks we have identified for Chegg visit our risks dashboard for free.
How Does Debt Impact ROE?
Virtually all companies need money to invest in the business, to grow profits. The cash for investment can come from prior year profits (retained earnings), issuing new shares, or borrowing. In the first two cases, the ROE will capture this use of capital to grow. In the latter case, the use of debt will improve the returns, but will not change the equity. That will make the ROE look better than if no debt was used.
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Combining Chegg's Debt And Its 28% Return On Equity
Chegg clearly uses a high amount of debt to boost returns, as it has a debt to equity ratio of 1.13. While no doubt that its ROE is impressive, we would have been even more impressed had the company achieved this with lower debt. Debt does bring extra risk, so it's only really worthwhile when a company generates some decent returns from it.
Summary
Return on equity is a useful indicator of the ability of a business to generate profits and return them to shareholders. Companies that can achieve high returns on equity without too much debt are generally of good quality. If two companies have around the same level of debt to equity, and one has a higher ROE, I'd generally prefer the one with higher ROE.
But when a business is high quality, the market often bids it up to a price that reflects this. The rate at which profits are likely to grow, relative to the expectations of profit growth reflected in the current price, must be considered, too. So you might want to take a peek at this data-rich interactive graph of forecasts for the company.
But note: Chegg may not be the best stock to buy. So take a peek at this free list of interesting companies with high ROE and low debt.
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.
This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
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NEWS_346 | Actor and activist Julian Brittano and Wife Karie Brittano, a Licensed General Contractor, signs upscale franchise agreement with industry's largest soft brand
ROCKVILLE, Md., Jan.11, 2023 /PRNewswire/ -- Choice Hotels International, Inc. (NYSE:CHH) has finalized an agreement with The Brittano Group, Inc. to develop a new member of the Ascend Hotel Collection in South Boston, Virginia: The Rook Hotels. This agreement marks the first Ascend hotel awarded through the company's emerging markets franchise development program in 2022, as Choice advances its longstanding commitment to increase diversity across the hospitality industry.
Choice Hotels has finalized an agreement with The Brittano Group, Inc. to develop a new member of the Ascend Hotel Collection in South Boston, Virginia.
To commemorate the occasion and the Ascend Hotel Collection's continued growth into travelers' favorite vacation destinations, Choice Hotels executives and representatives from the hotel's ownership team, including co-CEO's Julian Brittano and Karie Brittano, convened for an official signing ceremony at Choice's headquarters in Rockville, Maryland at the end of last year.
Expected to debut in summer 2024, The Rook at South Boston, a four-story, 37-room boutique property will feature distinct design and modern amenities, including a rooftop bar, full-service restaurant and bar, and event center. Ideally situated at 327 Main Street in the heart of South Boston's tree-lined historic downtown district, The Rook at South Boston will provide guests with access to the many attractions that reflect this rich tradition, including local restaurants, shops and art galleries. Formerly known as Boyd's Ferry, Virginia's South Boston community is best known for its iconic Victorian architecture and small-town charm. The building, originally built in 1929, is also within driving distance to nearby Roanoke and Richmond, Virginia, making it an ideal weekend getaway.
"Advancing opportunities for underrepresented entrepreneurs in the hospitality industry remains a top priority for Choice," said John Lancaster, vice president, emerging markets, franchise development and owner relationships, Choice Hotels International. "Exactly 20 years ago, Choice became the first hotel company with a team dedicated exclusively to growing a diverse franchisee base and today we are proud to have awarded over 340 franchise agreements to under-represented minorities and seasoned entrepreneurs since the program started. We look forward to working with The Brittano Group, Inc. as we celebrate another milestone for this important initiative with the first Ascend hotel being developed through this one-of-a-kind program."
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The Rook Hotels is owned by accomplished actor, hotelier and social activist, Julian Brittano, and his wife, Karie Brittano. Julian is known for beginning his acting career as a co-star to Oprah Winfrey in the Oprah Winfrey Network's hit series, "Greenleaf." Karie has more than a decade of business development experience and has held a Class A CIC General Contractor's License since 2019. The Brittano's originally acquired the historic hotel from the town of South Boston earlier last year for $11 million before entering into a franchise agreement with Choice Hotels. By owning this hotel, the Brittano's are among less than 1% of Black hoteliers globally.
"It's clear that Choice Hotels cares about both creating more opportunities for people of all backgrounds to enter the hospitality industry, as well as supporting franchisees every step of the way so we can maximize our investment," said Julian Brittano. "We are thrilled to be joining the industry's largest soft brand in the Ascend Hotel Collection, which allows us the freedom and creativity to bring our unique vision for The Rook Hotels to life while still being backed by a global engine and afforded best-in-class resources to ensure success."
Karie Brittano added about The Rook Hotels: "It's one of the largest properties in downtown South Boston and its restoration is expected to spark a revival; to become a pillar for the community's revitalization. It's where old-world meets its stunning new world design, paying homage to the South Boston Speedway just six miles away and Virginia's International Raceway."
There are over 330 Ascend Hotel Collection properties worldwide, open and in development as of September 30, 2022. In the coming months, additional hotels are scheduled to open in popular destinations including Orlando, Florida; Sutter Creek, California; Lake Charles, Louisiana and Puerto Rico.
As a part of the Ascend Hotel Collection by Choice Hotels, guests can participate in the award-winning Choice Privileges loyalty program. Choice Privileges membership is free and offers fast rewards and exclusive member rates for those who book directly at www.choicehotels.com.
For more information on Ascend development opportunities, visit www.choicehotelsdevelopment.com/brands/#ascendcollection.
Ascend Hotel Collection®: Let the Destination Reach You.
The Ascend Hotel Collection global portfolio of independent resort, historic and boutique hotels is part of Choice Hotels, one of the world's largest leading hotel companies. Recognized as the hotel industry's first "soft brand" concept, there are over 330 Ascend Hotel Collection properties open and in development worldwide as of September 30, 2022, including in France, the United Kingdom, Denmark, Finland, Ireland, Norway, Spain, Sweden, Turkey, Australia, Canada, Ecuador, and throughout Mexico, the Caribbean and Central America. Membership with the Ascend Hotel Collection enables distinctive, independent properties to gain a global presence while maintaining their local charm. For more information, visit www.choicehotels.com/ascend.
About Choice Hotels ®
Choice Hotels International, Inc. (NYSE: CHH) is one of the largest lodging franchisors in the world. With nearly 7,500 hotels, representing nearly 630,000 rooms, in 46 countries and territories as of September 30, 2022, the Choice® family of hotel brands provides business and leisure travelers with a range of high-quality lodging options from limited service to full-service hotels in the upper upscale, upper mid-scale, midscale, extended-stay, and economy segments. The award-winning Choice Privileges® loyalty program offers members a faster way to rewards, with personalized benefits starting on day one. For more information, visit www.choicehotels.com.
About The Rook Hotels®
Established 2021, The Rook Hotels®, a subsidiary of The Brittano Group, is described as an urban luxury boutique brand. It is headquartered at 327 Main St., South Boston, VA 24592. Co-CEO's are Julian and Karie Brittano. For more information, visit www.therookhotels.com.
Forward-Looking Statement
This communication includes "forward-looking statements" about future events, including anticipated development and hotel openings. Such statements are subject to numerous risks and uncertainties, including construction delays, availability and cost of financing, and the other "Risk Factors" described in our Annual Report on Form 10-K and our Quarterly Reports on Form 10-Q, any of which could cause actual results to be materially different from our expectations.
Addendum
This is not an offering. No offer or sale of a franchise will be made except by a Franchise Disclosure Document first filed and registered with applicable state authorities. A copy of the Franchise Disclosure Document can be obtained by contacting Choice Hotels International at 1 Choice Hotels Circle, Suite 400, Rockville, MD 20850, development@choicehotels.com.
© 2023 Choice Hotels International, Inc. All rights reserved.
Ascend Hotel Collection. (PRNewsfoto/Choice Hotels International)
Cision
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SOURCE Choice Hotels International, Inc. |
NEWS_347 | As a continuation of Choice's commitment, Radisson Hotels Americas joins in offering emergency lodging for survivors of domestic violence, human trafficking, sexual assault, and other crimes through Safe Stays
ROCKVILLE, Md., Jan. 10, 2023 /PRNewswire/ -- Choice Hotels International, Inc. (NYSE: CHH)—one of the world's largest lodging franchisors—has expanded its commitment to the Safe Stays by ReloShare alliance with the addition of Radisson Hotels Americas. The news follows Choice Hotels' acquisition of the Radisson Hotels Americas in August 2022.
Choice Hotels has expanded its commitment to the Safe Stays by ReloShare alliance with the addition of Radisson Hotels Americas
In February 2022, Choice Hotels became one of the first hotel brands to work with Safe Stays by ReloShare, a booking platform and program that helps provide emergency lodging to victims of abuse and violence. With the addition of Radisson Hotels Americas, over 90% of Choice Hotels in the US are now available for booking on the ReloShare platform, which has transformed the way social service agencies secure safe emergency lodging for victims of crime.
According to a recent census of domestic violence victims, throughout just one day, September 9, 2021, there were more than 38,608 adults and children in emergency housing programs, while an additional 9,444 requests for emergency shelter were unmet that same day across the United States.
The Safe Stays by ReloShare booking platform was created to provide a simple solution to the immense social service challenge of finding emergency housing for survivors of domestic violence, human trafficking, sexual assault, and other crimes. Safe Stays also enables anonymous bookings at select hotel locations for those in desperate and dangerous situations who may have fled and are without ID or where safety is a major concern.
The staff at any hotels that choose to offer Safe Stays by ReloShare are properly trained to intake guests, including those who have been booked under an alias by a social service agency. ReloShare will also manually verify these bookings with the hotel to help ensure the check-in process is handled anonymously and seamlessly upon guest arrival.
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As of January 10, 2023, more than six thousand U.S. hotels in the Choice Hotels portfolio have been activated with ReloShare to provide safe housing solutions. Some participating brands include Cambria Hotels, Comfort Hotels and WoodSpring Suites, with more than 4,000 hotels located within a mile of an interstate exit.
About Safe Stays by ReloShare
Safe Stays by Reloshare offers social service nonprofits and government agencies the ability to find and secure local lodging from national hotel providers in real-time with built-in confidentiality features—essential for people needing emergency housing due to domestic violence, human trafficking, sexual assault, and other crimes. Safe Stays is a business of ReloShare, the first real-time corporate housing and hotel booking and sourcing marketplace in North America, founded in 2020. The company, based in Chicago, is built on a foundation of technology, housing, and corporate travel experience and expertise. For more information, visit www.reloshare.com .
About Choice Hotels®
Choice Hotels International, Inc. (NYSE: CHH) is one of the largest lodging franchisors in the world. With nearly 7,500 hotels, representing nearly 630,000 rooms, in 46 countries and territories as of September 30, 2022, the Choice® family of hotel brands provides business and leisure travelers with a range of high-quality lodging options from limited service to full-service hotels in the upper upscale, upper mid-scale, midscale, extended-stay, and economy segments. The award-winning Choice Privileges® loyalty program offers members a faster way to rewards, with personalized benefits starting on day one. For more information, visit www.choicehotels.com.
Choice Hotels International. (PRNewsFoto/Choice Hotels International) (PRNewsfoto/CHOICE HOTELS INTERNATIONAL)
Cision
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SOURCE Choice Hotels International, Inc. |
NEWS_348 | Scout Investments, an affiliate of Carillon Tower Advisers, an investment management company, released its “Carillon Scout Mid Cap Fund” third quarter 2022 investor letter. A copy of the same can be downloaded here. The fund underperformed in the quarter relative to its benchmark Russell Midcap Index. Inflation and the Fed’s actions impacted the fund’s performance in the quarter. In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.
Carillon Tower Advisers highlighted stocks like Chesapeake Energy Corporation (NASDAQ:CHK) in its Q3 2022 investor letter. Headquartered in Oklahoma City, Oklahoma, Chesapeake Energy Corporation (NASDAQ:CHK) is an oil, natural gas, and natural gas liquids production and exploration company. On December 30, 2022, Chesapeake Energy Corporation (NASDAQ:CHK) stock closed at $94.37 per share. One-month return of Chesapeake Energy Corporation (NASDAQ:CHK) was -7.25%, and its shares gained 46.26% of their value over the last 52 weeks. Chesapeake Energy Corporation (NASDAQ:CHK) has a market capitalization of $12.643 billion.
Carillon Tower Advisers made the following comment about Chesapeake Energy Corporation (NASDAQ:CHK) in its Q3 2022 investor letter:
“Chesapeake Energy Corporation (NASDAQ:CHK), a natural gas exploration and production company, emerged from bankruptcy with little fanfare in 2021, despite having rid itself of its debt burden and onerous pipeline contracts. The company was able to make two large acquisitions at very reasonable prices within its core producing areas, allowing for scale and cost savings. Then in 2022, natural gas prices began to rise well above expectations, increasing the value of Chesapeake’s large natural gas resources and production and contributing to its outperformance.”
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Copyright: Elnur / 123RF Stock Photo
Chesapeake Energy Corporation (NASDAQ:CHK) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 70 hedge fund portfolios held Chesapeake Energy Corporation (NASDAQ:CHK) at the end of the third quarter, which was 67 in the previous quarter.
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We discussed Chesapeake Energy Corporation (NASDAQ:CHK) in another article and shared the best dividend stocks paying over 6%. In addition, please check out our hedge fund investor letters Q3 2022 page for more investor letters from hedge funds and other leading investors.
Suggested Articles:
Disclosure: None. This article is originally published at Insider Monkey. |
NEWS_349 | In the latest trading session, Chesapeake Energy (CHK) closed at $88.37, marking a -0.92% move from the previous day. This move lagged the S&P 500's daily gain of 0.7%. At the same time, the Dow added 0.56%, and the tech-heavy Nasdaq gained 7.5%.
Heading into today, shares of the oil and gas company had lost 9.88% over the past month, lagging the Oils-Energy sector's gain of 3.67% and the S&P 500's loss of 0.94% in that time.
Chesapeake Energy will be looking to display strength as it nears its next earnings release. On that day, Chesapeake Energy is projected to report earnings of $3.61 per share, which would represent year-over-year growth of 51.05%. Our most recent consensus estimate is calling for quarterly revenue of $1.57 billion, down 49.21% from the year-ago period.
Investors might also notice recent changes to analyst estimates for Chesapeake Energy. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 14.71% lower. Chesapeake Energy currently has a Zacks Rank of #3 (Hold).
Digging into valuation, Chesapeake Energy currently has a Forward P/E ratio of 4.44. For comparison, its industry has an average Forward P/E of 4.79, which means Chesapeake Energy is trading at a discount to the group.
The Oil and Gas - Exploration and Production - United States industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 197, which puts it in the bottom 22% of all 250+ industries.
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The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Chesapeake Energy Corporation (CHK) : Free Stock Analysis Report
To read this article on Zacks.com click here.
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NEWS_350 | Check Point Software Technologies INC
SAN CARLOS, Calif., Jan. 03, 2023 (GLOBE NEWSWIRE) -- Check Point® Software Technologies Ltd . (NASDAQ: CHKP), a leading provider of cyber security solutions globally, today announced that it will release its financial results for the fourth quarter and full year ended December 31, 2022, on Monday, February 13, 2023, before the U.S. financial markets open. Management will host a video conference call with the investment community at 8:30 AM EST/5:30 AM PST on February 13. A live webcast of the call will be hosted on the company’s website at http://www.checkpoint.com/ir .
To follow this and other Check Point news visit:
About Check Point Software Technologies Ltd.
Check Point Software Technologies Ltd. (www.checkpoint.com) is a leading provider of cybersecurity solutions to corporate enterprises and governments globally. Check Point Infinity’s portfolio of solutions protects enterprises and public organizations from 5th generation cyberattacks with an industry leading catch rate of malware, ransomware, and other threats. Infinity comprises four core pillars delivering uncompromised security and generation V threat prevention across enterprise environments: Check Point Harmony, for remote users; Check Point CloudGuard, to automatically secure clouds; and Check Point Quantum, to protect network perimeters and datacenters, all controlled by the industry’s most comprehensive, intuitive unified security management; Check Point Horizon, a prevention-first security operations suite. Check Point protects over 100,000 organizations of all sizes.
©2023 Check Point Software Technologies Ltd. All rights reserved
INVESTOR CONTACT: MEDIA CONTACT: Kip E. Meintzer Gil Messing Check Point Software Technologies Check Point Software Technologies +1.650.628.2040 +1.650.628.2260 ir@checkpoint.com press@checkpoint.com
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NEWS_351 | Check Point Software Technologies (NASDAQ:CHKP) has had a great run on the share market with its stock up by a significant 11% over the last three months. As most would know, fundamentals are what usually guide market price movements over the long-term, so we decided to look at the company's key financial indicators today to determine if they have any role to play in the recent price movement. In this article, we decided to focus on Check Point Software Technologies' ROE.
Return on Equity or ROE is a test of how effectively a company is growing its value and managing investors’ money. Simply put, it is used to assess the profitability of a company in relation to its equity capital.
See our latest analysis for Check Point Software Technologies
How Is ROE Calculated?
ROE can be calculated by using the formula:
Return on Equity = Net Profit (from continuing operations) ÷ Shareholders' Equity
So, based on the above formula, the ROE for Check Point Software Technologies is:
27% = US$787m ÷ US$2.9b (Based on the trailing twelve months to September 2022).
The 'return' is the amount earned after tax over the last twelve months. That means that for every $1 worth of shareholders' equity, the company generated $0.27 in profit.
What Has ROE Got To Do With Earnings Growth?
So far, we've learned that ROE is a measure of a company's profitability. Based on how much of its profits the company chooses to reinvest or "retain", we are then able to evaluate a company's future ability to generate profits. Assuming everything else remains unchanged, the higher the ROE and profit retention, the higher the growth rate of a company compared to companies that don't necessarily bear these characteristics.
Check Point Software Technologies' Earnings Growth And 27% ROE
To begin with, Check Point Software Technologies has a pretty high ROE which is interesting. Second, a comparison with the average ROE reported by the industry of 12% also doesn't go unnoticed by us. Despite this, Check Point Software Technologies' five year net income growth was quite flat over the past five years. So, there could be some other aspects that could potentially be preventing the company from growing. Such as, the company pays out a huge portion of its earnings as dividends, or is faced with competitive pressures.
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We then compared Check Point Software Technologies' net income growth with the industry and found that the company's growth figure is lower than the average industry growth rate of 24% in the same period, which is a bit concerning.
The basis for attaching value to a company is, to a great extent, tied to its earnings growth. It’s important for an investor to know whether the market has priced in the company's expected earnings growth (or decline). By doing so, they will have an idea if the stock is headed into clear blue waters or if swampy waters await. What is CHKP worth today? The intrinsic value infographic in our free research report helps visualize whether CHKP is currently mispriced by the market.
Is Check Point Software Technologies Efficiently Re-investing Its Profits?
Check Point Software Technologies doesn't pay any dividend, meaning that potentially all of its profits are being reinvested in the business. However, this doesn't explain why the company hasn't seen any growth. So there could be some other explanations in that regard. For instance, the company's business may be deteriorating.
Summary
Overall, we feel that Check Point Software Technologies certainly does have some positive factors to consider. Yet, the low earnings growth is a bit concerning, especially given that the company has a high rate of return and is reinvesting ma huge portion of its profits. By the looks of it, there could be some other factors, not necessarily in control of the business, that's preventing growth. With that said, the latest industry analyst forecasts reveal that the company's earnings are expected to accelerate. To know more about the company's future earnings growth forecasts take a look at this free report on analyst forecasts for the company to find out more.
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.
This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
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NEWS_352 | Check Point Software Technologies INC
Check Point Research reports that Glupteba has returned to the top ten list for the first time since July 2022. Qbot overtook Emotet as the most prevalent malware in December, while android malware Hiddad made a comeback
SAN CARLOS, Calif., Jan. 13, 2023 (GLOBE NEWSWIRE) -- Check Point® Software Technologies Ltd. (NASDAQ: CHKP), a leading provider of cybersecurity solutions globally, has published its Global Threat Index for December 2022. Last month saw Glupteba Malware, an ambitious blockchain-enabled Trojan botnet, return to the top ten list for the first time since July 2022, moving into eighth place. Qbot, a sophisticated Trojan that steals banking credentials and keystrokes, overtook Emotet to be the most prevalent malware after its return last month, impacting 7% of organizations worldwide. Meanwhile, android malware Hiddad made a comeback, and education continued to be the most impacted industry worldwide.
Although Google managed to cause major disruption to Glupteba operations in December 2021, it seems to have sprung back into action. As a modular malware variant, Glupteba can achieve various objectives on an infected computer. The botnet is often used as a downloader and dropper for other malware. This means that a Glupteba infection could lead to a ransomware infection, data breach, or other security incidents. Glupteba is also designed to steal user credentials and session cookies from infected machines. This authentication data can be used to gain access to a user’s online accounts or other systems, enabling the attacker to steal sensitive data or take other action using these compromised accounts. Finally, the malware is commonly used to deploy cryptomining functions on its target, draining a computer’s resources by using them to mine blocks.
In December, Hiddad also made the top three mobile malware list for the first time in 2022. Hiddad is an ad-distributing malware, targeting android devices. It repackages legitimate apps and then releases them to a third-party store. Its main function is to display ads, but it can also gain access to key security details built into the OS.
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“The overwhelming theme from our latest research is how malware often masquerades as legitimate software to give hackers backdoor access to devices without raising suspicion. That is why it is important to do your due diligence when downloading any software and applications or clicking on links, regardless of how genuine they look.” said Maya Horowitz, VP Research at Check Point Software.
CPR also revealed that “Web Server Exposed Git Repository Information Disclosure” was the most common exploited vulnerability, impacting 46% of organizations globally, followed by “Web Servers Malicious URL Directory Traversal” with 44% of organizations impacted worldwide. “Command Injection Over HTTP” is the third most used vulnerability, with a global impact of 43%.
Top malware families
*The arrows relate to the change in rank compared to the previous month.
Qbot was the most prevalent malware last month with an impact of 7% worldwide organizations, followed by Emotet with a global impact of 4% and XMRig with a global impact of 3%.
↑ Qbot – Qbot AKA Qakbot is a banking Trojan that first appeared in 2008. It was designed to steal a user’s banking credentials and keystrokes. Often distributed via spam email, Qbot employs several anti-VM, anti-debugging, and anti-sandbox techniques to hinder analysis and evade detection.
↔ Emotet - Emotet is an advanced, self-propagate and modular Trojan. Emotet used to be employed as a banking Trojan, and recently was used as a distributor for other malware or malicious campaigns. It uses multiple methods for maintaining persistence and evasion techniques to avoid detection. In addition, it can be spread through phishing spam emails containing malicious attachments or links.
↑ XMRig – XMRig is open-source CPU mining software used to mine the Monero cryptocurrency. Threat actors often abuse this open-source software by integrating it into their malware to conduct illegal mining on victims' devices.
Top Attacked Industries Globally
Last month, Education/Research remained the most attacked industry globally, followed by Government/Military and then Healthcare.
Education/Research Government/Military Healthcare
Top exploited vulnerabilities
In December, “Web Server Exposed Git Repository Information Disclosure” was the most common exploited vulnerability, impacting 46% of organizations globally, followed by “Web Servers Malicious URL Directory Traversal” with 44% of organizations impacted worldwide. “Command Injection Over HTTP” is the third most used vulnerability, with a global impact of 43%.
↑ Web Server Exposed Git Repository Information Disclosure - An information disclosure vulnerability has been reported in Git Repository. Successful exploitation of this vulnerability could allow an unintentional disclosure of account information.
↓ Web Servers Malicious URL Directory Traversal (CVE-2010-4598,CVE-2011-2474,CVE-2014-0130,CVE-2014-0780,CVE-2015-0666,CVE-2015-4068,CVE-2015-7254,CVE-2016-4523,CVE-2016-8530,CVE-2017-11512,CVE-2018-3948,CVE-2018-3949,CVE-2019-18952,CVE-2020-5410,CVE-2020-8260) - There exists a directory traversal vulnerability on different web servers. The vulnerability is due to an input validation error in a web server that does not properly sanitize the URI for the directory traversal patterns. Successful exploitation allows unauthenticated remote attackers to disclose or access arbitrary files on the vulnerable server.
↑ Command Injection Over HTTP (CVE-2021-43936,CVE-2022-24086) - A command Injection over HTTP vulnerability has been reported. A remote attacker can exploit this issue by sending a specially crafted request to the victim. Successful exploitation would allow an attacker to execute arbitrary code on the target machine.
Top Mobile Malwares
Last month Anubis remained the most prevalent Mobile malware, followed by Hiddad and AlienBot.
Anubis – Anubis is a banking Trojan malware designed for Android mobile phones. Since it was initially detected, it has gained additional functions including Remote Access Trojan (RAT) functionality, keylogger and audio recording capabilities as well as various ransomware features. It has been detected on hundreds of different applications available in the Google Store.
Hiddad - Hiddad is an Android malware which repackages legitimate apps and then releases them to a third-party store. Its main function is to display ads, but it can also gain access to key security details built into the OS.
AlienBot – AlienBot is a banking Trojan for Android, sold underground as Malware-as-a-Service (MaaS). It supports keylogging, dynamic overlays for credentials theft as well as SMS harvesting for 2FA bypass. Additional remote-control capabilities are provided using a TeamViewer module.
Check Point’s Global Threat Impact Index and its ThreatCloud Map is powered by Check Point’s ThreatCloud intelligence. ThreatCloud provides real-time threat intelligence derived from hundreds of millions of sensors worldwide, over networks, endpoints and mobiles. The intelligence is enriched with AI-based engines and exclusive research data from Check Point Research, the intelligence and research Arm of Check Point Software Technologies.
The complete list of the top ten malware families in December can be found on the Check Point blog .
Follow Check Point Research via:
Blog: https://research.checkpoint.com/
Twitter: https://twitter.com/_cpresearch_
About Check Point Research
Check Point Research provides leading cyber threat intelligence to Check Point Software customers and the greater intelligence community. The research team collects and analyzes global cyber-attack data stored on ThreatCloud to keep hackers at bay, while ensuring all Check Point products are updated with the latest protections. The research team consists of over 100 analysts and researchers cooperating with other security vendors, law enforcement and various CERTs.
About Check Point Software Technologies Ltd.
Check Point Software Technologies Ltd. (www.checkpoint.com) is a leading provider of cybersecurity solutions to corporate enterprises and governments globally. Check Point Infinity’s portfolio of solutions protects enterprises and public organisations from 5th generation cyberattacks with an industry leading catch rate of malware, ransomware and other threats. Infinity comprises four core pillars delivering uncompromised security and generation V threat prevention across enterprise environments: Check Point Harmony, for remote users; Check Point CloudGuard, to automatically secure clouds; and Check Point Quantum, to protect network perimeters and datacenters, all controlled by the industry’s most comprehensive, intuitive unified security management; Check Point Horizon, a prevention-first security operations suite. Check Point protects over 100,000 organizations of all sizes.
MEDIA CONTACT:
Emilie Beneitez Lefebvre
Check Point Software Technologies
press@checkpoint.com INVESTOR CONTACT:
Kip E. Meintzer
Check Point Software Technologies
ir@us.checkpoint.com
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NEWS_353 | Check Point Software Technologies INC
SAN CARLOS, Calif., Jan. 12, 2023 (GLOBE NEWSWIRE) -- Check Point® Software Technologies Ltd . (NASDAQ: CHKP), a leading provider of cyber security solutions globally, today announced Ms. Tzipi Ozer-Armon has joined the company’s Board of Directors following her appointment at the 2022 Annual General Meeting.
Ms. Ozer-Armon serves as the Chief Executive Officer of Lumenis Ltd. Before joining Lumenis, she headed the Japanese market activities of Teva Pharmaceutical Industries Ltd. and served as Senior Vice President of Sales and Marketing at SanDisk. Previously, Ms. Ozer-Armon also served as VP & General Manager at MSystems. In addition to Check Point Ms. Ozer-Armon is a director at ICL, Strauss Group Ltd. And SimilarWeb. Ms. Ozer-Armon holds a BA degree, magna cum laude, in Economics, and an MBA degree in Finance and Marketing from Tel-Aviv University, and she is an AMP graduate of the Harvard Business School.
“Ms. Ozer-Armon’s history of global technology company leadership from a variety of industries makes her an ideal person for this director role,” said Mr. Jerry Ungerman, Chairman of Check Point’s Board of Directors. “I look forward to working with Ms. Ozer-Armon to make a positive impact for all stakeholders, including our customers, partners, employees and shareholders.”
“I feel privileged to take on this role with Check Point during such an exciting time for the Cyber Security industry. The digital transformation has made Cyber Security top of mind for every company and leadership team around the world,” said Ms. Ozer-Armon, “I’m excited to be able to utilize my knowledge and experience to benefit all Check Point’s stakeholders and contribute to the company’s continued success.”
“Ms. Ozer-Armon’s cross-industry expertise and track record of success is an asset to Check Point and all of our constituents,” said Gil Shwed, Founder and CEO of Check Point Software Technologies. “With the addition of Ms. Ozer-Armon we continue to focus on expanding our cyber security leadership and driving value creation for all our stakeholders.”
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To follow this and other Check Point news visit:
About Check Point Software Technologies Ltd.
Check Point Software Technologies Ltd. (www.checkpoint.com) is a leading provider of cybersecurity solutions to corporate enterprises and governments globally. Check Point Infinity’s portfolio of solutions protects enterprises and public organizations from 5th generation cyberattacks with an industry leading catch rate of malware, ransomware, and other threats. Infinity comprises four core pillars delivering uncompromised security and generation V threat prevention across enterprise environments: Check Point Harmony, for remote users; Check Point CloudGuard, to automatically secure clouds; and Check Point Quantum, to protect network perimeters and datacenters, all controlled by the industry’s most comprehensive, intuitive unified security management; Check Point Horizon, a prevention-first security operations suite. Check Point protects over 100,000 organizations of all sizes.
©2023 Check Point Software Technologies Ltd. All rights reserved
INVESTOR CONTACT: MEDIA CONTACT: Kip E. Meintzer Gil Messing Check Point Software Technologies Check Point Software Technologies +1.650.628.2040 +1.650.628.2260 ir@checkpoint.com press@checkpoint.com
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NEWS_354 | Shares of Hyatt Hotels Corporation H advanced 1.1%, with year-end tourism gaining ground.
Shares of ChargePoint Holdings, Inc. CHPT jumped 5.4% on news that Q-GRG VII (CP) Investment Partners had bought more than 1.4 million shares in the company.
Nikola Corporation’s NKLA shares slumped 9.6% as the electric vehicle company announced plans to raise cash by selling up to $125 million of senior convertible bonds.
Shares of The Southern Company SO fell 1.1% as the utilities sector declined.
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NEWS_355 | In the latest trading session, ChargePoint Holdings, Inc. (CHPT) closed at $9.01, marking a +1.01% move from the previous day. This change lagged the S&P 500's 2.28% gain on the day. At the same time, the Dow added 2.13%, and the tech-heavy Nasdaq gained 5.02%.
Heading into today, shares of the company had lost 18.91% over the past month, outpacing the Auto-Tires-Trucks sector's loss of 20.56% and lagging the S&P 500's loss of 4.61% in that time.
ChargePoint Holdings, Inc. will be looking to display strength as it nears its next earnings release. In that report, analysts expect ChargePoint Holdings, Inc. to post earnings of -$0.15 per share. This would mark year-over-year growth of 28.57%. Meanwhile, our latest consensus estimate is calling for revenue of $165.22 million, up 104.78% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of -$0.72 per share and revenue of $480.47 million, which would represent changes of +56.36% and +98.26%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for ChargePoint Holdings, Inc.These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. ChargePoint Holdings, Inc. is currently a Zacks Rank #3 (Hold).
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The Automotive - Original Equipment industry is part of the Auto-Tires-Trucks sector. This industry currently has a Zacks Industry Rank of 99, which puts it in the top 40% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow CHPT in the coming trading sessions, be sure to utilize Zacks.com.
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NEWS_356 | ChargePoint Express Plus platform delivers the speed that drivers expect and the flexibility that businesses want in a high-powered charging solution
LAS VEGAS & CAMPBELL, Calif., January 05, 2023--(BUSINESS WIRE)--ChargePoint Holdings, Inc. (NYSE: CHPT), a leading electric vehicle (EV) charging provider, Mercedes-Benz and MN8 Energy, one of the largest U.S. solar, stationary power and renewable energy providers, today announced plans to rapidly expand the availability of DC fast charging with the development of over 400 charging hubs across the U.S. and Canada. Powered by the ChargePoint network, the Mercedes-Benz charging hubs will be in key cities and urban population centers, along major highway corridors and close to convenient retail and service destinations.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230104006063/en/
ChargePoint, Mercedes-Benz, and MN8 Energy to rapidly expand the availability of DC fast charging with the development of over 400 charging hubs, powered by the ChargePoint network, across the U.S. and Canada. (Photo: Business Wire)
Starting this year, ChargePoint, Mercedes-Benz, and MN8 will develop more than 400 charging hubs across North America with more than 2,500 ChargePoint DC fast charging ports that will enable a premium, sustainable and reliable charging experience for EV drivers. MN8 and Mercedes-Benz will jointly finance and operate the charging hubs, powered by ChargePoint’s industry leading charging hardware and software solutions.
"Automotive leaders like Mercedes-Benz continue to lead the transition to electric mobility by bringing new EVs to market, and ChargePoint remains committed to enabling the simplicity that drivers expect and the charging speed they need for all vehicles whenever and wherever drivers want," said Pasquale Romano, CEO, ChargePoint. "With this partnership, we are expanding upon our existing relationships with Mercedes-Benz and MN8 to deliver a seamless charging experience for drivers, and turnkey charging solutions at no upfront cost to site hosts. We believe the expansion of charging hubs like these will enable the emergence of a new 30 minute retail economy, at the intersection of innovation and accessibility that combines charging and commerce, giving drivers a superior experience to charge quickly and easily."
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Available to all EV drivers, the Mercedes-Benz charging hubs will offer Mercedes-Benz drivers additional benefits including preferential access via reservation, as well as the convenience of automatic authentication functionality like "Plug & Charge" [1], enabling seamless and secure communications between the vehicle and the charging infrastructure. While authentication via card, app or head unit will be possible, it’s not required for Mercedes-Benz customers using the Mercedes me Charge[2] service.
"Mercedes-Benz customers deserve a compelling charging experience that makes electric vehicle ownership and long-distance travel effortless and that’s why we are launching a global high-end charging network that will offer a charging experience to match the extraordinary Mercedes driving experience. We are excited to start right here in North America with two strong and experienced partners, ChargePoint and MN8 Energy," said Ola Källenius, Chairman of the Board of Management of Mercedes-Benz Group AG.
The Mercedes-Benz hubs will primarily be powered by ChargePoint Express Plus, one of the most advanced high power DC fast charge platforms built for businesses looking to scale their EV charging operations for the long term. Express Plus is the ideal platform for fueling and convenience, retail and highway corridor charging locations. The system can deliver up to 500kW per port, depending on the configuration, and is designed to easily scale to meet future demand as EV adoption and vehicle capability grows. With its modular design and liquid-cooled cables, Express Plus can efficiently charge today’s and tomorrow’s electric vehicles.
About ChargePoint
ChargePoint is creating a new fueling network to move people and goods on electricity. Since 2007, ChargePoint has been committed to making it easy for businesses and drivers to go electric with one of the largest EV charging networks in North America and Europe and a comprehensive portfolio of charging solutions. The ChargePoint cloud subscription platform and software-defined charging hardware are designed to include options for every charging scenario from home and multifamily to workplace, parking, hospitality, retail and transport fleets of all types. Today, one ChargePoint account provides access to hundreds of thousands of places to charge in North America and Europe. To date, more than 133 million charging sessions have been delivered, with drivers plugging into the ChargePoint network on average every second. For more information, visit the ChargePoint pressroom, the ChargePoint Investor Relations site, or contact the ChargePoint North American or European press offices or Investor Relations.
Forward-Looking Statements
This press release contains forward-looking statements that involve risks, uncertainties, and assumptions including statements regarding the expected benefits to EV drivers of the partnership among ChargePoint, Mercedez-Benz and MN8 Energy and the timing and scope of the implementation of the proposed charging hubs. Any statements that are not of historical fact may be forward-looking statements. Words used such as "anticipates," "believes," "continues," "designed," "estimates," "expects," "goal," "intends," "likely," "may," "ongoing," "plans," "projects," "pursuing," "seeks," "should," "will," "would" and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these words. All forward-looking statements are based on ChargePoint’s current assumptions, expectations and beliefs, and involve substantial risks and uncertainties that may cause results, performance or achievement to materially differ from those expressed or implied by these forward-looking statements. Further information regarding these risks and uncertainties are included in the filings by ChargePoint Holdings, Inc., with the U.S. Securities and Exchange Commission. ChargePoint makes these statements as of the date of this press release, and ChargePoint undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise, except as required under applicable law.
ChargePoint and the ChargePoint logo are registered trademarks of ChargePoint, Inc. in the United States and in jurisdictions throughout the world. All other trademarks, trade names, or service marks used or mentioned herein belong to their respective owners. "Mercedes me" and "Mercedes me Charge" are trademarks of Mercedes-Benz Group AG or its affiliates.
CHPT-IR
[1] Plug & Charge is available with EQS, EQS SUV, EQE, EQE SUV, current plug-in hybrids C- and S-Class and GLC with optional direct-current charging system (DC charging). The customer needs to activate the Plug & Charge service in the overview of services
[2] In order to use the Mercedes me connect service Mercedes me Charge, a personal Mercedes me ID and agreement to the Mercedes me connect Terms of Use are required. Furthermore, a charging contract is required.
View source version on businesswire.com: https://www.businesswire.com/news/home/20230104006063/en/
Contacts
ChargePoint
AJ Gosselin
Director, Corporate Communications
AJ.Gosselin@chargepoint.com
media@chargepoint.com
Patrick Hamer
VP, Capital Markets and Investor Relations
Patrick.Hamer@chargepoint.com
investors@chargepoint.com
Mercedes-Benz:
Tobias Brandstetter, phone: +49 176 30 941 650, tobias.brandstetter@mercedes-benz.com
Oliver Fenzl, phone: +49 176 30 925 025, oliver.fenzl@mercedes-benz.com
Edward Taylor, phone: +49 176 30941776, edward.taylor@mercedes-benz.com |
NEWS_357 | ChargePoint Holdings, Inc. (CHPT) closed the most recent trading day at $8.92, moving -1.98% from the previous trading session. This change lagged the S&P 500's daily loss of 1.17%. Elsewhere, the Dow lost 1.02%, while the tech-heavy Nasdaq lost 2.45%.
Prior to today's trading, shares of the company had lost 15.43% over the past month. This has was narrower than the Auto-Tires-Trucks sector's loss of 22.81% and lagged the S&P 500's loss of 5.25% in that time.
ChargePoint Holdings, Inc. will be looking to display strength as it nears its next earnings release. On that day, ChargePoint Holdings, Inc. is projected to report earnings of -$0.15 per share, which would represent year-over-year growth of 28.57%. Our most recent consensus estimate is calling for quarterly revenue of $165.22 million, up 104.78% from the year-ago period.
CHPT's full-year Zacks Consensus Estimates are calling for earnings of -$0.72 per share and revenue of $480.47 million. These results would represent year-over-year changes of +56.36% and +98.26%, respectively.
Investors should also note any recent changes to analyst estimates for ChargePoint Holdings, Inc.These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. ChargePoint Holdings, Inc. is currently a Zacks Rank #3 (Hold).
Story continues
The Automotive - Original Equipment industry is part of the Auto-Tires-Trucks sector. This group has a Zacks Industry Rank of 102, putting it in the top 41% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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NEWS_358 | Coherus BioSciences, Inc.
REDWOOD CITY, Calif., Jan. 04, 2023 (GLOBE NEWSWIRE) -- Coherus BioSciences, Inc. (“Coherus”, Nasdaq: CHRS), today announced that senior management will present at the upcoming 41st Annual J.P. Morgan Healthcare Conference on Tuesday, January 10, 2023, at 8:15 a.m. Pacific Time. The presentation and Q&A session will be accessible via Webcast through a link posted on the Investor Events Calendar section of the Coherus website: https://investors.coherus.com/upcoming-events. This webcast will be available for replay until February 10, 2023.
About Coherus
Coherus is a commercial-stage biopharmaceutical company focused on the research, development, and commercialization of innovative immunotherapies to treat cancer and the commercialization of our portfolio of FDA-approved therapeutics.
Coherus Contact Information:
Marek Ciszewski, J.D.
SVP Investor Relations
Coherus Biosciences, Inc.
IR@coherus.com
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NEWS_359 | Coherus BioSciences, Inc.
Additional Growth Driver Projected to Significantly Increase Mid-to-Long Term Revenue Potential
REDWOOD CITY, Calif., Jan. 09, 2023 (GLOBE NEWSWIRE) -- Coherus BioSciences, Inc. (Coherus or Coherus BioSciences, Nasdaq: CHRS) announced today that it has executed a binding term sheet with Klinge Biopharma GmbH (Klinge Biopharma) for the exclusive commercialization rights to FYB203, a biosimilar candidate to Eylea® (aflibercept), in the United States. The parties expect to complete the transaction in Q1 2023, and Coherus plans to file a Biologics License Application with the U.S. Food and Drug Administration later this year. Coherus intends to launch the product at Eylea® biosimilar market formation, currently expected to be in 2025, if approved.
“This additional ophthalmology product will allow us to broadly target the entire $7 billion class of anti-VEGF products, substantially increasing our market opportunity to support mid-to-long term growth and revenue potential,” said Coherus’ CEO, Denny Lanfear. “This agreement extends the Company's commitment to expand choice and improve access for physicians and patients seeking high-quality, cost-effective alternatives in anti-VEGF therapies throughout the continuum of care.”
“An Eylea® biosimilar will be an excellent strategic fit for Coherus given our demonstrated biosimilar commercialization competency as shown by UDENYCA®, as well as our recent successful launch of CIMERLITM, the first and only FDA-approved biosimilar interchangeable with Lucentis®”, said Paul Reider, Chief Commercial Officer of Coherus. “The addition of an Eylea® biosimilar will be highly synergistic with our retina portfolio, leveraging our existing dedicated retina sales team and patient services hub to enable successful access and reimbursement.”
Under the binding term sheet, Coherus will make a total upfront payment of approximately €30 million, comprised of cash and Coherus common stock, thirty days after the execution of the definitive agreements. Coherus will also make other regulatory and launch milestone payments and share profits approximately equally in consideration for the commercialization rights to FYB203 in the United States.
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About FYB203: biosimilar candidate for Eylea® (aflibercept)
FYB203, which Klinge Biopharma has in-licensed from the German biosimilar developer Formycon AG, is being evaluated in a Phase 3 clinical trial (MAGELLAN-AMD) and topline results are expected in the next few weeks. MAGELLAN-AMD is a randomized, double-blind, multicenter study designed to evaluate the efficacy and safety of FYB203 compared to the reference product, Eylea®, in terms of safety, efficacy, and immunogenicity in patients with Neovascular (wet) Age-Related Macular Degeneration (nAMD). The study recruited 434 patients to receive one intravitreal injection of FYB203 every 4 weeks for the first 3 doses, followed by one intravitreal injection every 8 weeks through study completion. The primary outcome assessment is a change from baseline in Best Corrected Visual Acuity (BCVA) at 8 weeks.
Eylea® is a registered trademark of Regeneron Pharmaceuticals, Inc. and Lucentis® is a registered trademark of Genentech, Inc.
About Coherus BioSciences
Coherus is a commercial-stage biopharmaceutical company focused on the research, development and commercialization of innovative immunotherapies to treat cancer. Coherus’ strategy is to build a leading immuno-oncology franchise funded with cash generated through net sales of its diversified portfolio of FDA-approved therapeutics.
In 2021, Coherus in-licensed toripalimab, an anti-PD-1 antibody, in the United States and Canada. The Biologics License Application for toripalimab in combination with chemotherapy as treatment for recurrent or metastatic nasopharyngeal carcinoma is currently under review by the FDA.
Coherus markets UDENYCA® (pegfilgrastim-cbqv), a biosimilar of Neulasta®, and CIMERLI™ (ranibizumab-eqrn), a biosimilar of Lucentis®, in the U.S., and expects to launch the FDA-approved Humira® biosimilar YUSIMRY™ (adalimumab-aqvh) in the U.S. in 2023.
About Formycon AG
Formycon AG (“Formycon”) is a leading, independent developer of high-quality biopharmaceutical medicines, especially biosimilars. The company focuses on treatments in ophthalmology, immunology and on other key chronic diseases, covering the entire value chain from technical development to the clinical phase III as well as the preparation of dossiers for marketing approval. With its biosimilars, Formycon is making a major contribution towards providing as many patients as possible with access to vital and affordable medicines. Formycon currently has six biosimilars in development. Based on its extensive experience in the development of biopharmaceutical drugs, the company is also working on the development of a COVID-19 drug FYB207.
Forward-Looking Statements
Except for the historical information contained herein, the matters set forth in this press release are forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements regarding Coherus’ ability to build its immuno-oncology franchise to achieve a leading market position; Coherus’ ability to generate cash; Coherus’ investment plans; Coherus’ expectations for the launch performance of YUSIMRY™ and other products, including the licensed product candidate; Coherus’ ability to realize multi-product revenue streams; expectations about signing definitive agreements under the binding term sheet, closing under those agreements and adding a biosimilar Eylea product to its portfolio of on market products and development candidates; future growth and synergy expectations; and remittance of any future upfront payments, milestone payments, royalties and profit sharing payments.
Such forward-looking statements involve substantial risks and uncertainties that could cause Coherus’ actual results, performance or achievements to differ significantly from any future results, performance or achievements expressed or implied by the forward-looking statements. Such risks and uncertainties include, among others, risks related to our existing and potential collaboration partners including Coherus’ ability to negotiate definitive agreements with Klinge Biopharma, the risks and uncertainties inherent in the clinical drug development process; risks relating to the COVID-19 pandemic; risks of the drug development position of Coherus’ competitors; the risks and uncertainties of the regulatory approval process, including the speed of regulatory review, international aspects of Coherus’ business, and the timing of Coherus’ regulatory filings; the risk of FDA review issues; the risk of Coherus’ execution of its change in strategy from a focus on biosimilars to a strategy using cash from its portfolio to fund an oncology franchise; the risk that Coherus is unable to complete commercial transactions and other matters that could affect the availability or commercial potential of Coherus’ drug candidates; and the risks and uncertainties of possible litigation. All forward-looking statements contained in this press release speak only as of the date of this press release. Coherus undertakes no obligation to update or revise any forward-looking statements. For a further description of the significant risks and uncertainties that could cause actual results to differ from those expressed in these forward-looking statements, as well as risks relating to Coherus’ business in general, see Coherus’ Quarterly Report on Form 10-Q for the quarter ended September 30, 2022, filed with the Securities and Exchange Commission on November 8, 2022, including the section therein captioned “Risk Factors” and in other documents that Coherus files with the Securities and Exchange Commission.
UDENYCA®, CIMERLI™ and YUSIMRY™, whether or not appearing in large print or with the trademark symbol, are trademarks of Coherus, its affiliates, related companies or its licensors or joint venture partners unless otherwise noted. Trademarks and trade names of other companies appearing in this press release are, to the knowledge of Coherus, the property of their respective owners.
Coherus Contact Information:
Investor Contact:
Marek Ciszewski, SVP, Investor Relations
IR@coherus.com
Media Contact:
Jodi Sievers, VP, Corporate Communications
media@coherus.com
|
NEWS_360 | Scout Investments, an affiliate of Carillon Tower Advisers, an investment management company, released its “Carillon Scout Small Cap Fund” third quarter 2022 investor letter. You can download a copy of the same here. The fund underperformed in the quarter relative to its Russell 2000 Growth Index benchmark. Macroeconomic headwinds affected the performance of the fund in the quarter. As per the letter, investors prefer growth stocks to value stocks, as small-cap growth stocks outperformed small-cap value stocks during the quarter. In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.
Carillon Tower Advisers highlighted stocks like Coherus BioSciences, Inc. (NASDAQ:CHRS) in its Q3 2022 investor letter. Headquartered in Redwood City, California, Coherus BioSciences, Inc. (NASDAQ:CHRS) is a biopharmaceutical company. On December 30, 2022, Coherus BioSciences, Inc. (NASDAQ:CHRS) stock closed at $7.92 per share. One-month return of Coherus BioSciences, Inc. (NASDAQ:CHRS) was 17.51%, and its shares lost 51.74% of their value over the last 52 weeks. Coherus BioSciences, Inc. (NASDAQ:CHRS) has a market capitalization of $616.001 million.
Carillon Tower Advisers made the following comment about Coherus BioSciences, Inc. (NASDAQ:CHRS) in its Q3 2022 investor letter:
“Coherus BioSciences, Inc. (NASDAQ:CHRS) is a commercial-stage biopharmaceutical company focused on the research, development, and commercialization of immunotherapies to treat cancer. The company’s stock reacted positively to the approval of its biosimilar CimerliTM to treat retinal disease.”
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Coherus BioSciences, Inc. (NASDAQ:CHRS) is not on our 30 Most Popular Stocks Among Hedge Funds list. As per our database, 20 hedge fund portfolios held Coherus BioSciences, Inc. (NASDAQ:CHRS) at the end of the third quarter, which was 23 in the previous quarter.
We discussed Coherus BioSciences, Inc. (NASDAQ:CHRS) in another article and shared Carillon Tower Advisers' views on the company. In addition, please check out our hedge fund investor letters Q3 2022 page for more investor letters from hedge funds and other leading investors.
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NEWS_361 | In the latest trading session, Chico's FAS (CHS) closed at $4.61, marking a -1.07% move from the previous day. This change lagged the S&P 500's daily gain of 1.29%. At the same time, the Dow added 0.8%, and the tech-heavy Nasdaq gained 10.96%.
Heading into today, shares of the clothing chain had lost 12.57% over the past month, lagging the Retail-Wholesale sector's gain of 2.19% and the S&P 500's loss of 0.23% in that time.
Chico's FAS will be looking to display strength as it nears its next earnings release. On that day, Chico's FAS is projected to report earnings of $0.09 per share, which would represent no growth from the year-ago period. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $547 million, up 10.22% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $0.83 per share and revenue of $2.17 billion, which would represent changes of +107.5% and +19.62%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Chico's FAS. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 8.79% lower. Chico's FAS currently has a Zacks Rank of #3 (Hold).
Looking at its valuation, Chico's FAS is holding a Forward P/E ratio of 5.61. This valuation marks a discount compared to its industry's average Forward P/E of 12.74.
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The Retail - Apparel and Shoes industry is part of the Retail-Wholesale sector. This group has a Zacks Industry Rank of 165, putting it in the bottom 35% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Chico's FAS, Inc. (CHS) : Free Stock Analysis Report
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NEWS_362 | FORT MYERS, Fla., Jan. 9, 2023 /PRNewswire/ -- Chico's FAS, Inc. (NYSE: CHS) (the "Company" or Chico's FAS) today reported holiday sales and updated its outlook for fiscal 2022 fourth quarter sales and earnings. Molly Langenstein, Chico's FAS Chief Executive Officer and President, and Patrick ("PJ") Guido, Chico's FAS Chief Financial Officer, will discuss continued progress on the Company's strategic plan and these results at the ICR Conference today at 8:00 a.m. ET. As previously announced, a live webcast and associated replay will available at https://wsw.com/webcast/icr8/chs/1463316 and on the Investor Relations section of the Company's website at www.chicosfas.com, respectively.
Chico's FAS Logo. (PRNewsFoto/Chico's FAS, Inc.) (PRNewsFoto/)
Langenstein commented, "Our customer led, product obsessed, digital first, operationally excellent strategy is working. Our brand portfolio continues to deliver strong results and we are confident in our strategic direction as we close out an exceptional year for our company. For the nine-week holiday period ending December 31, 2022, total net sales grew 4.9% over last year and comparable sales grew 5.3% over last year. Chico's sales remained healthy, and sales trends at Soma continued to improve quarter over quarter. As we entered December, White House Black Market sales softened as we had sold through newer assortments and were left with leaner inventories and styles that did not match up with customer demand. We are on track to post low-to-mid-single-digit total Company comparable sales growth for the fourth quarter on top of 29% comparable sales growth in last year's fourth quarter."
The Company has updated its fourth quarter outlook and now expects total net sales to range from $505 million to $515 million and diluted earnings per share to range from ($0.02) to $0.00.
"Entering 2023, we remain confident in our brand portfolio and our ability to deliver strong results for the year and over the long-term. Customer demand is growing across all three brands and our total inventory levels also remain well in line with sales, with December on-hand inventory up 1% to last year. We expect to enter fiscal 2023 with clean inventory and a strong balance sheet and are well positioned to deliver fashion and newness to meet growing customer demand across all three brands," Langenstein concluded.
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The Company will release its full fourth quarter and fiscal 2022 results at a later time.
ABOUT CHICO'S FAS, INC.
Chico's FAS is a Florida-based fashion company founded in 1983 on Sanibel Island, Fla. The Company reinvented the fashion retail experience by creating fashion communities anchored by service, which put the customer at the center of everything we do. As one of the leading fashion retailers in North America, Chico's FAS is a company of three unique brands - Chico's, White House Black Market and Soma - each thriving in their own white space, founded by women, led by women, providing solutions that millions of women say give them confidence and joy.
Our Company has a passion for fashion, and each day, we provide clothing, shoes and accessories, intimate apparel and expert styling in our brick-and-mortar boutiques, digital online boutiques and through StyleConnect®, the Company's customized, branded, digital styling tool that enables customers to conveniently shop wherever, whenever and however they prefer.
As of October 29, 2022, the Company operated 1,261 stores in the U.S. and sold merchandise through 58 international franchise locations in Mexico and 2 domestic franchise airport locations. The Company's merchandise is also available at www.chicos.com, www.chicosofftherack.com, www.whbm.com and www.soma.com.
To learn more about Chico's FAS, please visit our corporate website at www.chicosfas.com. The information on our corporate website is not, and shall not be deemed to be, a part of this press release or incorporated into our federal securities law filings.
SAFE HARBOR STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995
This press release contains statements concerning our current expectations, assumptions, plans, estimates, judgments and projections about our business and our industry and other statements that are not historical facts. These statements, including without limitation the section captioned "Updates Fiscal 2022 Fourth Quarter Outlook," are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. In most cases, words or phrases such as "aim," "anticipates," "believes," "could," "estimates," "expects," "intends," "target," "may," "will," "plans," "path," "outlook," "project," "should," "strategy," "potential," "confident" and similar expressions identify forward-looking statements. These forward-looking statements are based largely on information currently available to our management and are subject to various risks and uncertainties that could cause actual results to differ materially from historical results or those expressed or implied by such forward-looking statements. Although we believe our expectations are based on reasonable estimates and assumptions, they are not guarantees of performance. There is no assurance that our expectations will occur or that our estimates or assumptions will be correct, and we caution investors and all others not to place undue reliance on such forward-looking statements. Factors that could cause actual results to differ include, but are not limited to, those described in Item 1A, "Risk Factors" in our most recent Annual Report on Form 10-K and, from time to time, in Item 1A, "Risk Factors" of our Quarterly Reports on Form 10-Q and the following: The effects of the pandemic, including uncertainties about its depth and duration, new variants of COVID-19 that have emerged, the speed, efficacy and availability of vaccines and treatments, its impact on general economic conditions, human capital management, consumer behavior and discretionary spending, the effectiveness of any actions taken in response to the pandemic, and the impact of the pandemic on our manufacturing operations, shipping costs and timelines and the global supply chain; the ability of our suppliers, logistics providers, vendors and landlords, to meet their obligations to us in light of financial stress, labor shortages, liquidity challenges, bankruptcy filings by other industry participants, and supply chain and other disruptions; increases in unemployment rates and labor shortages; our ability to sufficiently staff our retail stores; changes in general economic conditions, including but not limited to, consumer confidence and consumer spending patterns; the impacts of rising inflation, gasoline prices, and interest rates on consumer spending; market disruptions including pandemics or significant health hazards, severe weather conditions, natural disasters, terrorist activities, financial crises, political crises, war and other military conflicts (such as the war in Ukraine) or other major events, or the prospect of these events, including their impact on consumer spending, inflation and the global supply chain; domestic and global political and social conditions and the potential impacts of geopolitical turmoil or conflict; shifts in consumer behavior, and our ability to adapt, identify and respond to new and changing fashion trends and customer preferences, and to coordinate product development with buying and planning; changes in the general or specialty retail or apparel industries, including significant decreases in market demand and the overall level of spending for women's private branded clothing and related accessories; our ability to secure and maintain customer acceptance of in-store and online concepts and styles; increased competition in the markets in which we operate, including for, among other things, premium mall space; our ability to remain competitive with customer shipping terms and costs; decreases in customer traffic at malls, shopping centers and our stores; fluctuations in foreign currency exchange rates and commodity prices; significant increases in the costs of manufacturing, raw materials, transportation, importing, distribution, labor and advertising; decreases in the quality of merchandise received from suppliers and increases in delivery times for receiving such merchandise; our ability to appropriately manage our store fleet, including the closing of underperforming stores and opening of new stores, and our ability to achieve the expected results of any such store openings or store closings; our ability to appropriately manage inventory and allocation processes and leverage targeted promotions; our ability to maintain cost saving discipline; our ability to operate our retail websites in a profitable manner; our ability to successfully identify and implement additional sales and distribution channels; our ability to successfully execute and achieve the expected results of our business, brand strategies, brand awareness programs, and merchandising and marketing programs including, but not limited to, the Company's three-year strategic growth plan, retail fleet optimization plan, sales initiatives, multi-channel strategies and four strategic pillars which are: 1) customer led; 2) product obsessed; 3) digital first; and 4) operationally excellent; our ability to utilize our distribution center and other support facilities in an efficient and effective manner; our reliance on sourcing from foreign suppliers and significant adverse economic, labor, political or other shifts (including adverse changes in tariffs, taxes or other import regulations, particularly with respect to China, or legislation prohibiting certain imports from China); U.S. and foreign governmental actions and policies and changes thereto; the continuing performance, implementation and integration of our management information systems; our ability to successfully update our information systems; the impact of any system failure, cyber security or other data security breaches, including any security breaches resulting in the theft, transfer, or unauthorized disclosure of customer, employee, or company information; our ability to comply with applicable domestic and foreign information security and privacy laws, regulations and technology platform rules or other obligations related to data privacy and security; our ability to attract, hire, train, motivate and retain qualified employees in an inclusive environment; our ability to successfully recruit leadership or transition members of our senior management team; increased public focus and opinion on environmental, social and governance ("ESG") initiatives and our ability to meet any announced ESG goals and initiatives; future unsolicited offers to buy the Company and actions of activist shareholders and others and our ability to respond effectively; our ability to secure and protect our intellectual property rights and to protect our reputation and brand images; unanticipated obligations or changes in estimates arising from new or existing litigation, income taxes and other regulatory proceedings; unanticipated adverse changes in legal, regulatory or tax laws; and our ability to comply with the terms of our credit agreement, including the restrictive provisions limiting our flexibility in operating our business and obtaining additional credit on commercially reasonable terms.
These factors should be considered in evaluating forward-looking statements contained herein. All forward-looking statements that are made or attributable to us are expressly qualified in their entirety by this cautionary notice. The forward-looking statements included herein are only made as of the date of this press release. We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Investor Relations Contact:
Tom Filandro
ICR, Inc.
(646) 277-1235
tom.filandro@icrinc.com
Cision
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SOURCE Chico's FAS, Inc. |
NEWS_363 | Boot Barn Holdings, Inc. BOOT reported preliminary results for the third quarter of fiscal 2023. We note that the company generated total sales at the upper end of its guidance despite facing late December storms that hurt sales during the highest volume days in the reported quarter.
However, new store sales continued to exceed expectations, leading to approximately flat year-over-year retail same-store sales. In addition, Boot Barn witnessed a merchandise margin rate roughly in line with the last year’s record-setting performance, thus normalizing anticipated freight challenges. Let’s delve deeper.
Preliminary Results
Encouragingly, this lifestyle retailer of western and work-related footwear, apparel and accessories highlighted that net sales jumped 5.9% year over year to nearly $514.6 million for the quarter that ended Dec 24, 2022. Third-quarter fiscal 2023 same-store sales dipped 3.6%, cycling a 54.2% same-store sales increase in the prior-year period. Further, retail store same-store sales slipped about 0.8% and e-commerce sales decreased roughly 15.2%.
We note that merchandise margins plunged 190 basis points (bps) year over year, mainly driven by a 180 basis-point headwind from increased freight expenses.
Meanwhile, third-quarter earnings came in at approximately $1.74 per share, compared with $2.27 recorded in the year-ago period. The quarterly earnings included gains of about 4 cents owing to income tax accounting for share-based compensation.
What’s More?
We note that the foregoing anticipated results are preliminary and subject to the completion of normal quarter-end accounting procedures and closing adjustments. Management intends to report third-quarter results in late January and will provide the fourth-quarter view.
Management remains optimistic about the store pipeline, inventory levels and the overall business. Boot Barn is likely to deliver growth, given the store-productivity levels are continuing to surpass the pre-pandemic levels, coupled with the opportunity to expand the store footprint. BOOT opened 12 stores in the fiscal third quarter, bringing the total store count to 333.
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A glimpse of the Zacks Rank #2 (Buy) company’s price performance shows that its shares have gained 9.8% over the past three months, outshining its industry’s 17.2% increase.
Key Picks in Retail
We highlighted three top-ranked stocks, namely Tecnoglass TGLS, Chico's FAS CHS and Urban Outfitters URBN.
Tecnoglass manufactures and sells architectural glass,windows, and aluminum products for the residential and commercial construction industries. TGLS currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Tecnoglass’ current financial-year sales and EPS suggests 11.2% and 9% growth, respectively, from the year-ago reported figures. TGLS has a trailing four-quarter earnings surprise of 26.9%, on average.
Chico's FAS, an omnichannel specialty retailer, currently sports a Zacks Rank of 1. CHS has a trailing four-quarter earnings surprise of 87.5%, on average.
The Zacks Consensus Estimate for Chico's FAS’s current financial-year sales and EPS suggests growth of 19.6% and 127.5%, respectively, from the year-ago reported figures.
Urban Outfitters, a fashion apparel and accessories retailer, currently carries a Zacks Rank of 2. The company has a trailing four-quarter earnings surprise of 11.2%, on average.
The Zacks Consensus Estimate for Urban Outfitters’ current financial-year sales and EPS suggests 3% and 27.9% growth, respectively, from the year-ago reported figures.
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Urban Outfitters, Inc. (URBN) : Free Stock Analysis Report
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Boot Barn Holdings, Inc. (BOOT) : Free Stock Analysis Report
Tecnoglass Inc. (TGLS) : Free Stock Analysis Report
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Zacks Investment Research |
NEWS_364 | Urban Outfitters, Inc. URBN reported higher sales for the holiday period. URBN remains committed to driving overall growth, thanks to its robust business strategies and sound fundamentals. Management has been strengthening its direct-to-consumer business, enhancing productivity across the existing channels and optimizing inventory levels. Let’s delve deeper.
Sales Data
Total net sales for the two months ended Dec 31, 2022, jumped 2.3% from the level recorded in the two months ended Dec 31, 2021. The total Retail segment net sales also grew 1%, with comparable Retail segment net sales rising 2%, partly offset by a 1% foreign currency translation impact. Growth in the Retail segment comparable net sales was backed by a low single-digit increase in digital channel sales and a low single-digit rise in retail store sales.
By brand, comparable Retail segment net sales rose 15% at Free People and 7% at the Anthropologie Group while dipping 10% at Urban Outfitters. Further, the Wholesale segment’s net sales declined 22% on lower Free People Group wholesale sales stemming from decreased department store sales. Nuuly segment sales surged a whopping 150% year over year on a 153%-increase in its subscribers in the two months ended Dec 31, 2022.
During the 11 months that ended Dec 31, 2022, total net sales jumped 5.1% from the level recorded in the eleven months that ended Dec 31, 2021. Also, comparable Retail segment net sales climbed 4%, buoyed by high single-digit growth in retail store sales on higher store traffic and a low single-digit rise in digital channel sales.
Wholesale segment net sales tumbled 3% in the eleven-month period, mainly driven by lower Free People Group wholesale sales. This was partly offset by higher sales to specialty accounts. Nuuly segment sales soared 176% on a 187%-increase in the subscribers during the eleven months ended Dec 31, 2022.
What’s More?
Urban Outfitters’ strategic growth initiative FP Movement and store-growth endeavors are yielding results. Regarding its store-related endeavors, URBN inaugurated 33 retail stores in the eleven months that ended Dec 31, 2022. These include 19 Free People Group stores consisting of 7 FP Movement outlets, 7 Urban Outfitters stores, 6 Anthropologie Group stores and 1 Menus & Venues restaurant. In the aforementioned period, management shuttered 7 retail locations including 3 Urban Outfitters stores, 3 Anthropologie Group stores and 1 Free People Group store. During the eleven months that ended Dec 31, 2022, 4 Urban Outfitters franchisee-owned stores and 1 Anthropologie Group franchisee-owned store were introduced.
As of Dec 31, 2022, Urban Outfitters operated 265 Urban Outfitters stores in the United States, Canada and Europe and websites; 241 Anthropologie Group outlets in the United States, Canada and Europe, catalogs and websites; 191 Free People locations in the United States, Canada and Europe, catalogs and websites, 11 Menus & Venues restaurants, 6 Urban Outfitters franchisee-owned stores and 2 Anthropologie Group franchisee-owned stores.
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Zacks Investment Research
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This current Zacks Rank #2 (Buy) stock has rallied 29.5% in the past six months, outperforming the industry’s 15.6% growth.
Other Solid Picks in Retail
We highlighted three top-ranked stocks, namely Tecnoglass TGLS, Chico's FAS CHS and Wingstop WING.
Tecnoglass manufactures and sells architectural glass,windows and aluminum products for residential and commercial construction industries. TGLS currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Tecnoglass’ current financial-year sales and earnings per share suggests 43.4% and 82.2% growth, respectively, from the year-ago reported figures. TGLS has a trailing four-quarter earnings surprise of 26.9%, on average.
Chico's FAS, an omnichannel specialty retailer, currently sports a Zacks Rank of 1. CHS has a trailing four-quarter earnings surprise of 87.5%, on average.
The Zacks Consensus Estimate for Chico's FAS’s current financial-year sales and EPS suggests growth of 19.6% and 127.5%, respectively, from the year-ago reported figures.
Wingstop, which franchises and operates restaurants, currently holds a Zacks Rank of 2. The company has a trailing four-quarter earnings surprise of 5.8%, on average.
The Zacks Consensus Estimate for Wingstop’s current financial-year sales and earnings per share suggests 25.5% and 23% growth, respectively, from the year-ago reported numbers. WING has an expected EPS growth rate of 5.8% for three-five years.
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Urban Outfitters, Inc. (URBN) : Free Stock Analysis Report
Chico's FAS, Inc. (CHS) : Free Stock Analysis Report
Tecnoglass Inc. (TGLS) : Free Stock Analysis Report
Wingstop Inc. (WING) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research |
NEWS_365 | Urban Outfitters, Inc. URBN seems a promising bet, thanks to its solid growth strategies and sound fundamentals. Management has been strengthening its direct-to-consumer business, enhancing productivity across the existing channels and optimizing inventory levels. URBN’s strategic growth initiative, FP Movement and store-growth endeavors are also impressive. Markedly, shares of this Philadelphia, PA-based player have gained 24.2% outperforming its industry’s 14% rise over the past six months.
Additionally, analysts look optimistic about this Zacks Rank #2 (Buy) stock. For fiscal 2023, the Zacks Consensus Estimate for URBN’s sales is currently pegged at $4.77 billion, suggesting 4.8% growth from the year-ago period’s corresponding figure. For fiscal 2024, the consensus estimate for sales and earnings per share (EPS) presently stands at $4.91 billion and $2.23, respectively, indicating an increase of 3% and 27.9% each from the comparable previous fiscal year’s actuals.
Strategic Discussion
Being a multi-brand and multi-channel retailer, Urban Outfitters offers a flexible merchandising strategy. The company also has a significant domestic and international presence with rapidly expanding e-commerce activities. In addition, the company’s FP Movement and AnthroLiving initiatives hold promise. Management had earlier said that AnthroLiving has the potential to become at least a $1-billion business with the size of Anthro's apparel business.
Regarding the FP Movement, management believes that this initiative will lure a wider customer base to its Free People brand. Having a differentiated position in the fitness and wellness space, the FP Movement offers a major growth opportunity and is expected to boost Free People’s brand revenues. Impressively, the FP brand witnessed an outstanding fiscal third quarter, generating 28% retail segment growth.
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In addition, management remains optimistic about the prospects of Nuuly. Nuuly comprises the Nuuly Rent and Nuuly Thrift brands. During the fiscal third quarter, Nuuly contributed $35.3 million to net sales, reflecting an increase from $12.7 million recorded in the earlier fiscal year’s comparable period, backed by a sharp rise in subscribers. On a quarter-over-quarter basis, active subscribers increased 37%, outpacing the 100,000 sub milestone in early October. Currently, the number of active subscribers is in excess of 120,000. This is likely to keep fueling the company’s overall sales.
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What Else?
Urban Outfitters reported third-quarter fiscal 2023 results, wherein the top line beat the Zacks Consensus Estimate and grew from the year-ago fiscal quarter’s tally. Net sales for the three months ending Oct 31, fiscal 2023, rose 3.9% from the same-period level of fiscal 2022 to $1,175.3 million. Brandwise, net sales were up 12.2% from the comparable period’s level in fiscal 2022 to $484.2 million at Anthropologie Group and 5.9% to $280.7 million at Free People. Nuuly contributed $35.3 million to net sales, reflecting an increase from $12.7 million recorded in the earlier fiscal year’s comparable period. Menus & Venues’ net sales amounted to $7.7 million, up 18.5% from the level recorded in the prior fiscal year’s corresponding period.
Based on the sales expectations, management anticipates the company’s Retail segment comp sales to come in low single-digit positive for the fiscal fourth quarter. Growth in the Retail and Nuuly segments is likely to be somewhat offset by reduced sales in the Wholesale segment.
Solid Picks in Retail
We highlighted three top-ranked stocks, namely Tecnoglass TGLS, Chico's FAS CHS and Boot Barn BOOT.
Tecnoglass manufactures and sells architectural glass and windows and aluminum products for the residential and commercial construction industries. TGLS currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Tecnoglass’ current financial-year sales and EPS suggests growth of 11.2% and 9%, respectively, from the year-ago reported figures. TGLS has a trailing four-quarter earnings surprise of 26.9%, on average.
Chico's FAS, an omnichannel specialty retailer, currently sports a Zacks Rank of 1. CHS has a trailing four-quarter earnings surprise of 87.5%, on average.
The Zacks Consensus Estimate for Chico's FAS’s current financial-year sales and EPS suggests growth of 19.6% and 127.5%, respectively, from the year-ago reported figures.
Boot Barn, a fashion retailer of apparel and accessories, currently carries a Zacks Rank #2 (Buy). The company has a trailing four-quarter earnings surprise of 11.7%, on average.
The Zacks Consensus Estimate for Boot Barn’s current financial-year sales suggests growth of 11.8% from the year-ago reported figure.
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Urban Outfitters, Inc. (URBN) : Free Stock Analysis Report
Chico's FAS, Inc. (CHS) : Free Stock Analysis Report
Boot Barn Holdings, Inc. (BOOT) : Free Stock Analysis Report
Tecnoglass Inc. (TGLS) : Free Stock Analysis Report
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NEWS_366 | FORT MYERS, Fla., Jan. 3, 2023 /PRNewswire/ -- Chico's FAS, Inc. (NYSE: CHS) (the "Company" or Chico's FAS) today announced it will participate in the 25th Anniversary 2023 ICR Conference in Orlando, Florida on January 9, 2023.
Chico's FAS Logo. (PRNewsFoto/Chico's FAS, Inc.) (PRNewsFoto/)
Chico's FAS Chief Executive Officer Molly Langenstein and Chief Financial Officer PJ Guido are scheduled to present on Monday, January 9, 2023 at 8:00 AM ET. The live webcast will be available in listen-only mode on https://wsw.com/webcast/icr8/chs/1463316. An archived replay of the webcast will be available following the event in the Investor Relations section of the Company's website at www.chicosfas.com.
ABOUT CHICO'S FAS, INC.
Chico's FAS is a Florida-based fashion company founded in 1983 on Sanibel Island, Fla. The Company reinvented the fashion retail experience by creating fashion communities anchored by service, which put the customer at the center of everything we do. As one of the leading fashion retailers in North America, Chico's FAS is a company of three unique brands - Chico's, White House Black Market and Soma - each thriving in their own white space, founded by women, led by women, providing solutions that millions of women say give them confidence and joy.
Our Company has a passion for fashion, and each day, we provide clothing, shoes and accessories, intimate apparel and expert styling in our brick-and-mortar boutiques, digital online boutiques and through StyleConnect®, the Company's customized, branded, digital styling tool that enables customers to conveniently shop wherever, whenever and however they prefer.
As of October 29, 2022, the Company operated 1,261 stores in the U.S. and sold merchandise through 58 international franchise locations in Mexico and 2 domestic franchise airport locations. The Company's merchandise is also available at www.chicos.com, www.chicosofftherack.com, www.whbm.com and www.soma.com.
To learn more about Chico's FAS, please visit our corporate website at www.chicosfas.com. The information on our corporate website is not, and shall not be deemed to be, a part of this press release or incorporated into our federal securities law filings.
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Investor Relations Contact:
Tom Filandro
ICR, Inc.
(646) 277-1235
tom.filandro@icrinc.com
Cision
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SOURCE Chico's FAS, Inc. |
NEWS_367 | The Buckle, Inc. BKE has been witnessing strength across its men’s and women’s businesses as well as in the accessory category for a while. Moreover, Buckle released the sales data for December, wherein it reported higher sales and comparable store net sales (comps).
Shares of this on-trend apparel, accessories and footwear retailer have surged 37.9% in the past three months compared with the industry’s 17% growth. Let’s delve deeper.
December Data
We note that comps for the five-week period ended Dec 31, 2022 grew 7% year over year. This followed a comps dip of 0.3% in November. However, the metric increased 1.4% and 2.7% in October and September, respectively. Total net sales rose 7.9% to $214.5 million for the month under discussion from $198.7 million reported in the prior-year five-week period ended Jan 1, 2022. Sales increased 0.5% in November, 2.3% in October and 3.8% in September.
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This Kearney, NE-based company witnessed increases in both the men’s and women’s sides of the business. While accessory was the bright spot, the footwear category continued to struggle. On the men’s and women’s sides of the business, total sales increased 12.5% and 0.5%, respectively, for the five-week period that ended Dec 31, 2022. While the men’s business contributed to 60.5% of total sales, the women’s business accounted for 39.5%. For the fiscal month, overall price points on the men’s and women’s sides of the business were up 7.5% and 5.5%, respectively.
On combining the men’s and women’s categories, accessory sales for December 2022 climbed 16%. However, footwear sales dropped 4% for the aforementioned period. The accessory and footwear categories accounted for 12% and 9.5%, respectively, of the current fiscal December net sales. Average accessory price points increased 9%, while average footwear price points rose slightly for the same fiscal month.
What’s More?
Comps for the 48-week period ended Dec 31, 2022 rose 3.2% year over year. Net sales for the 48-week fiscal period ended Dec 31, 2022 jumped 3.7% to $1.276 billion from net sales of $817.1 million recorded in the 35-week fiscal period ended Oct 2, 2021.
This presently Zacks Rank #3 (Hold) player currently operates 441 retail outlets in 42 states compared with 440 stores in 42 states as of Jan 5, 2022.
BKE also inaugurated three stores and remodeled 16 full stores while shuttering two outlets. On its last earnings call, management anticipated completing eight additional full remodels and introducing one additional store for the rest of fiscal 2022. It projected capital expenditures in the band of $26-$30 million for the year, including the planned store projects and IT investments.
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3 Retail Stocks to Bet on
We have highlighted three top-ranked stocks, namely Tecnoglass TGLS, Chico's FAS CHS and Boot Barn BOOT.
Tecnoglass manufactures and sells architectural glass and windows and aluminum products for the residential and commercial construction industries. TGLS currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Tecnoglass’ current financial-year sales and EPS suggests growth of 11.2% and 9%, respectively, from the year-ago reported figures. TGLS has a trailing four-quarter earnings surprise of 26.9%, on average.
Chico's FAS, an omnichannel specialty retailer, currently sports a Zacks Rank of 1. CHS has a trailing four-quarter earnings surprise of 87.5%, on average.
The Zacks Consensus Estimate for Chico's FAS’s current financial-year sales and EPS suggests growth of 19.6% and 127.5%, respectively, from the year-ago reported figures.
Boot Barn, a fashion retailer of apparel and accessories, currently carries a Zacks Rank #2 (Buy). The company has a trailing four-quarter earnings surprise of 11.7%, on average.
The Zacks Consensus Estimate for Boot Barn’s current financial-year sales suggests growth of 11.8% from the year-ago reported figure.
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NEWS_368 | Retailers are giving their investors a delayed lump of coal.
Several high-profile retailers are out with lackluster sales and profit updates ahead of their full results in late February/early March. Overall, the vibe in the reports are dim as consumers pullback on discretionary purchases and retailers battle through stubborn inflation and still bloated inventories.
The corporate logo for Lululemon hangs on a wall at their store in Brookfield Place on August 26, 2022, in New York City. (Photo by Gary Hershorn/Getty Images)
Here are three warnings that are standing out on Monday.
Macy's (M) warned that it sees sales at the low end to mid-point of guidance for $8.16 billion to $8.40 billion. Analysts were modeling for $8.31 billion in sales, according to Yahoo Finance data. Earnings are expected to be within the guidance range of $1.47 to $1.67. Yahoo Finance data shows analysts were banking on $1.60 a share. With this earnings pre-announcement, Macy's essentially issued a profit warning for the first half of 2023 in addition to telegraphing a less-than-stellar holiday season. While Macy's inventory levels look to be in good shape despite the sales miss, look for the Street to slash their profit estimates for 2023 amid margin pressures and a more cautious consumer. The stock is likely dead money — with a downward bias — until we get evidence of a re-acceleration in consumer spending (for Macy's and other retailers, hopefully this happens before the spring selling season).
Macy's shares are off by roughly 5% pre-market.
Lululemon stock (LULU) fell by roughly 10% as holiday season results came in shy of super lofty Wall Street expectations. Lululemon said it now expects that net sales will be in the range of $2.66 billion to $2.70 billion. The company's previous guidance range was $2.605 billion to $2.655 billion. Analyst estimates called for $2.67 billion in sales. Earnings for the fourth quarter are seen in the range of $4.22 to $4.27, downwardly revised at the top-end from $4.20 to $4.30. The Street forecast earnings of $4.30.
Of bigger concern is that Lululemon, which is generally anti-product markdown, appears to have driven its quarter by aggressive product markdowns — gross margins are seen dropping 90 to 110 basis points.
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Chico's (CHS), a women's apparel retailer, also had a challenging holiday season — notably at its higher end White House Black Market concept. The company now expects total net sales to range from $505 million to $515 million and diluted earnings per share to range from ($0.02) to $0.00. Chico's previously guided to fourth quarter sales of $535 to $555 million and earnings of $0.07 to $0.10. Wall Street was modeling for $545 million in sales and earnings of $0.09
Shares of Chico's tanked more than 10% in pre-market trading.
Abercrombie & Fitch: One of the few bright spots on Monday was specialty apparel retailer Abercrombie & Fitch. Shares popped 4% in pre-market trading as the company lifted its sales and margin outlooks for the fourth quarter.
Notable is that Abercrombie called out improved results in the men's business at its namesake business, something the Street has been looking to see before getting more constructive on the stock.
Brian Sozzi is an editor-at-large and anchor at Yahoo Finance. Follow Sozzi on Twitter @BrianSozzi and on LinkedIn.
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NEWS_369 | Investors in Chico's FAS, Inc. CHS need to pay close attention to the stock based on moves in the options market lately. That is because the Jan 20, 2023 $3.00 Call had some of the highest implied volatility of all equity options today.
What is Implied Volatility?
Implied volatility shows how much movement the market is expecting in the future. Options with high levels of implied volatility suggest that investors in the underlying stocks are expecting a big move in one direction or the other. It could also mean there is an event coming up soon that may cause a big rally or a huge sell-off. However, implied volatility is only one piece of the puzzle when putting together an options trading strategy.
What do the Analysts Think?
Clearly, options traders are pricing in a big move for Chico's FAS shares, but what is the fundamental picture for the company? Currently, Chico's FAS is a Zacks Rank #1 (Strong Buy) in the Retail - Apparel and Shoes industry that ranks in the Bottom 43% of our Zacks Industry Rank. Over the last 60 days, no analysts have increased their earnings estimates for the current quarter, while one analyst has revised the estimate downward. The net effect has taken our Zacks Consensus Estimate for the current quarter from 10 cents per share to 9 cents in that period.
Given the way analysts feel about Chico's FAS right now, this huge implied volatility could mean there’s a trade developing. Oftentimes, options traders look for options with high levels of implied volatility to sell premium. This is a strategy many seasoned traders use because it captures decay. At expiration, the hope for these traders is that the underlying stock does not move as much as originally expected.
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NEWS_370 | The Retail-Wholesale group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Is Chico's FAS (CHS) one of those stocks right now? A quick glance at the company's year-to-date performance in comparison to the rest of the Retail-Wholesale sector should help us answer this question.
Chico's FAS is one of 226 individual stocks in the Retail-Wholesale sector. Collectively, these companies sit at #8 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.
The Zacks Rank emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. Chico's FAS is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past three months, the Zacks Consensus Estimate for CHS' full-year earnings has moved 7.1% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Our latest available data shows that CHS has returned about 6.9% since the start of the calendar year. Meanwhile, the Retail-Wholesale sector has returned an average of -26.2% on a year-to-date basis. This means that Chico's FAS is performing better than its sector in terms of year-to-date returns.
Dick's Sporting Goods (DKS) is another Retail-Wholesale stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 6.5%.
In Dick's Sporting Goods' case, the consensus EPS estimate for the current year increased 4.5% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Breaking things down more, Chico's FAS is a member of the Retail - Apparel and Shoes industry, which includes 45 individual companies and currently sits at #147 in the Zacks Industry Rank.
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NEWS_371 | Yahoo Finance Live anchors discuss the decline in stock for Chico’s FAS after the retailer slashed its fourth-quarter outlook.
Video Transcript
JULIE HYMAN: Chico's is out with its holiday sales reporting total net sales growth of 4.9% over the last year during the nine-week holiday period. But the retailer slashing its outlook for the fourth quarter. This, again, falls into the category of companies coming out ahead of this ICR Conference with--
BRIAN SOZZI: Yeah.
JULIE HYMAN: --various announcements.
BRIAN SOZZI: Soft quarter for Chico's White House Black Market segment. And I will sum this up. I've been actually in some of these stores more recently, White House Black Market. I just want them-- obviously, I'm not the target demo for this. But stop putting sparkles on everything. Everything does not need sparkles.
BRAD SMITH: Why not?
BRIAN SOZZI: No.
JULIE HYMAN: Does Chico's stuff have sparkles?
BRIAN SOZZI: It's just-- it's out of control. Everything-- they take basic apparel now, and they're cranking it up to make everything shiny and sparkly. And some of these products looks like they won't even make it through a wash, and the prices keep going up.
JULIE HYMAN: Hey, wait, wait, wait.
BRIAN SOZZI: Yes, yes.
JULIE HYMAN: I guess I'm just a little confused why you know so much about Chico's and what they're selling right now.
BRIAN SOZZI: We'll take that off air, but I've been in these stores a lot over the past month and a half. And I just know a lot about Chico's. I go into Chico's. I buy gifts for people inside of Chico's. And they like it. But still, I think the products have gotten too fashion forward. And the quality has not kept pace. Hence you're seeing, I think, some soft traffic here. The price is very expensive here. Very expensive.
BRAD SMITH: I will give you an out because over the past, what, two months as you're doing a lot of shopping for others over the holidays, perhaps you tend to find yourself meandering into or being part of the foot traffic in stores typically you wouldn't go into. So I understand that. However, I think what Chico's is saying about some of their total net sales and what they've seen over the last year, up 4.9%, comp sales up 5.3%. They're saying that sales have remained healthy and sales continue to improve at their Soma division as well.
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But the White House Black Market sales, those continuing to soften or softening right now. That continues to be, I think, one of the larger question marks to see where they will see that rebound, especially at a time where people were looking to, as evidenced by Banana Republic, get back into some of the wear the fashion categories that would get them back into or be ready for some of the social constructs that we already mentioned here.
JULIE HYMAN: Well, it's interesting to hear Sozz talk about the quality because I definitely have noticed and I tweeted about this last week-- that yes, you might be getting bargains at certain places. But there is definitely a decrease in quality.
BRAD SMITH: Yes.
JULIE HYMAN: Even from higher end brands that you would get a pair of wool pants that would not be lined any longer is just mind blowing to me.
BRIAN SOZZI: Ugh.
JULIE HYMAN: And unfortunate, I recently bought a pair of pants at Banana Republic that were not lined that should be. And then there's another pair of pants-- again, I'm doing a lot of anec data today.
BRIAN SOZZI: You're firing me up right now.
JULIE HYMAN: I'm doing a lot of anec data.
BRIAN SOZZI: I need to say, you're firing me up.
JULIE HYMAN: Here, I want to tell you one more thing. So I looked in a J. Crew, also for a pair of pants at the mall. This is-- I don't go shopping at the mall very often, but when I do, I have a lot to share with you.
BRAD SMITH: This was a full experience.
JULIE HYMAN: I went to J.Crew. I went to J.Crew. I found a pair of pants I liked, but I didn't want to wait in line. There was a long line, so I said, oh, I'm going to order them online. I go online to look at the same pants, reading the reviews, as one does. A bunch of people say they got this pair of pants. One leg was shorter than the other when they received them. More than one person reported that this happened. Again, quality control and retailers trying to cut corners right now. It's kind of amazing.
BRIAN SOZZI: It's getting worse, and where they're cutting the corners is on buttons and zippers. You feel, and I have to-- look, I love North Face.
JULIE HYMAN: Do not give me the plastic-- like, the cheeky looking plastic--
BRIAN SOZZI: I love North Face, and they are known for their black tech fleeces. But I picked one up at Dick's Sporting Goods recently, and the name North Face used to be sewed onto this fleece. It is now-- I don't know--
JULIE HYMAN: Hot glue gunned?
BRIAN SOZZI: Yes, hot glue gunned, and the zipper is borderline plastic. And the price is higher. I'm upset with North Face. When you have a premium brand like that, you expect the same experience you've been getting for the past 10 years. I think they could be better. I would pay more. Just leave the damn product alone. Don't ruin the my zippers on a product that I come to you every five years for.
BRAD SMITH: You guys need--
JULIE HYMAN: Wow, we're both fired up on the same side this morning.
BRIAN SOZZI: Yeah, but they-- both legs have to be the same. That's one cost--
JULIE HYMAN: Obviously, yes.
BRIAN SOZZI: That's one cost cut you don't want to make, Julie.
JULIE HYMAN: Yes.
BRAD SMITH: I think you guys got to start stopping at Hot Topic like me a little bit more because everything is an upside surprise after that.
JULIE HYMAN: I didn't even know Hot Topic was still around.
BRIAN SOZZI: They're around.
BRAD SMITH: Yeah. |
NEWS_372 | Capri Holdings Limited CPRI appears a decent stock pick due to its robust business strategies. CPRI has been reinforcing its position in the luxury fashion space for a while now due to the potential of the Versace, Jimmy Choo and Michael Kors brands through expanded products and categories. Meanwhile, management has been deploying resources to expand product offerings, upgrade distribution infrastructure, create seamless omnichannel capabilities and deepen engagement with customers.
Shares of this accessories and footwear dealer have increased 37.7% in the past six months compared with the industry’s 6.6% rise. A Value Score of A, coupled with an expected long-term earnings growth rate of 11.8%, speaks volumes for this Zacks Rank #3 (Hold) stock’s potential.
Additionally, analysts look optimistic about the stock. For fiscal 2023, the Zacks Consensus Estimate for Capri Holdings’ sales and earnings per share (EPS) is currently pegged at $5.71 billion and $6.87, suggesting growth of 1% and 10.6%, respectively, from the year-ago period’s corresponding figures.
For fiscal 2024, the consensus estimate for sales and EPS presently stands at $5.97 billion and $7.27, respectively. These indicate an increase of 4.6% and 5.8% each from the comparable previous fiscal year’s actuals.
Strategic Details
Capri Holdings is focused on designing innovative fashion products across brand banners. Apart from exploring growth opportunities in apparel, the company has been boosting its accessories business, including leather goods and handbags.
CPRI has also been leveraging omnichannel capabilities to accelerate revenue growth and deepen consumer engagement. Markedly, the company’s Versace brand expanded its license deal with EuroItalia for an additional period of 15 years. EuroItalia is a leading global fragrance and cosmetics company based in Italy.
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Meanwhile, Capri Holdings’ cost-containment efforts, focus on the e-commerce platform and accretive buyouts bode well. The company’s acquisitions of the Jimmy Choo and Versace brands have strengthened its position in the luxury fashion space. These brands, along with Michael Kors, form a perfect portfolio. Management remains confident about positioning Versace as a leading luxury leather house and expanding accessories revenues to $1 billion over time, as well as more than double footwear revenues.
At Michael Kors, management continues to increase Signature penetration across all product categories. Men’s business remains one of the fastest-growing categories at Michael Kors, and management intends to generate revenues of $500 million over time.
Capri Holdings also plans to grow revenues from MKGO to $500 million and double Michael Kors’ e-commerce revenues. The company is on the path to improving revenues at Michael Kors to $5 billion over time and expects to double revenues in Asia.
Capri Holdings’ e-commerce business has been doing well. Management is investing significantly in digital analytics, expanding capabilities and upgrading the e-commerce platform. The company plans to drive retail and e-commerce to the full potential across all brands, Versace, Jimmy Choo and Michael Kors.
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Key Picks in Retail
We have highlighted three better-ranked stocks, namely Tecnoglass TGLS, Chico's FAS CHS and Urban Outfitters URBN.
Tecnoglass manufactures and sells architectural glass and windows and aluminum products for the residential and commercial construction industries. TGLS currently sports a Zacks Rank of 1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Tecnoglass’ current financial-year sales and EPS suggests growth of 11.2% and 9%, respectively, from the year-ago reported figures. TGLS has a trailing four-quarter earnings surprise of 26.9%, on average.
Chico's FAS, an omnichannel specialty retailer, currently sports a Zacks Rank of 1. CHS has a trailing four-quarter earnings surprise of 87.5%, on average.
The Zacks Consensus Estimate for Chico's FAS’ current financial-year sales and EPS suggests growth of 19.6% and 127.5%, respectively, from the year-ago reported figures.
Urban Outfitters, a fashion retailer of apparel and accessories, currently carries a Zacks Rank #2 (Buy). The company has a trailing four-quarter earnings surprise of 11.2%, on average.
The Zacks Consensus Estimate for Urban Outfitters’ current financial-year sales and EPS suggests growth of 3% and 27.9%, respectively, from the year-ago reported figures.
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NEWS_373 | Oakmark Funds, an investment management company, released its “Oakmark Select Fund” fourth quarter 2022 investor letter. A copy of the same can be downloaded here. The fund returned 4.7% in the fourth quarter compared to a 7.6% return for the S&P 500 Index. For the full year 2022, the fund returned -22.7% compared to the -18.1% return for the S&P 500. The firm is disappointed with the performance of the fund. However, they still focus on creating high-conviction portfolio of undervalued companies that will offer attractive risk-adjusted returns and margin of safety over a long period. The largest contributors in the quarter were financials and energy sectors while the consumer discretionary sector detracted from the performance. In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.
Oakmark Funds highlighted stocks like Liberty Broadband Corporation (NASDAQ:LBRDA) in its Q4 2022 investor letter. Headquartered in Englewood, Colorado, Liberty Broadband Corporation (NASDAQ:LBRDA) is a communication company. On January 9, 2023, Liberty Broadband Corporation (NASDAQ:LBRDA) stock closed at $83.07 per share. One-month return of Liberty Broadband Corporation (NASDAQ:LBRDA) was -7.90%, and its shares lost 44.34% of their value over the last 52 weeks. Liberty Broadband Corporation (NASDAQ:LBRDA) has a market capitalization of $12.319 billion.
Oakmark Funds made the following comment about Liberty Broadband Corporation (NASDAQ:LBRDA) in its Q4 2022 investor letter:
“We also sold some of our position in Charter Communications to purchase a new position in Liberty Broadband Corporation (NASDAQ:LBRDA). We continue to see significant value in Charter shares and view Liberty Broadband as a tax-efficient way to own Charter at a discount. Liberty Broadband owns GCI, the primary cable provider in Alaska, and a 30.3% stake in Charter Communications. We believe that Liberty Broadband is trading at a material discount to its asset value today and that, by owning the shares, we are effectively recreating our Charter position at a discount. Liberty’s management team is taking advantage of this discount by repurchasing shares, and we would not be surprised to see the discount ultimately reduced or eliminated through a transaction with Charter.”
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Dishes, Networks, Communications
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Liberty Broadband Corporation (NASDAQ:LBRDA) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 25 hedge fund portfolios held Liberty Broadband Corporation (NASDAQ:LBRDA) at the end of the third quarter which was 27 in the previous quarter.
We discussed Liberty Broadband Corporation (NASDAQ:LBRDA) in another article and shared George Soros net worth and top holdings heading into 2023. In addition, please check out our hedge fund investor letters Q4 2022 page for more investor letters from hedge funds and other leading investors.
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NEWS_374 | One simple way to benefit from the stock market is to buy an index fund. But if you pick the right individual stocks, you could make more than that. Just take a look at Chuy's Holdings, Inc. (NASDAQ:CHUY), which is up 32%, over three years, soundly beating the market return of 18% (not including dividends). On the other hand, the returns haven't been quite so good recently, with shareholders up just 18%.
So let's investigate and see if the longer term performance of the company has been in line with the underlying business' progress.
Check out our latest analysis for Chuy's Holdings
There is no denying that markets are sometimes efficient, but prices do not always reflect underlying business performance. By comparing earnings per share (EPS) and share price changes over time, we can get a feel for how investor attitudes to a company have morphed over time.
During three years of share price growth, Chuy's Holdings achieved compound earnings per share growth of 27% per year. The average annual share price increase of 10% is actually lower than the EPS growth. Therefore, it seems the market has moderated its expectations for growth, somewhat.
You can see how EPS has changed over time in the image below (click on the chart to see the exact values).
Dive deeper into Chuy's Holdings' key metrics by checking this interactive graph of Chuy's Holdings's earnings, revenue and cash flow.
A Different Perspective
It's nice to see that Chuy's Holdings shareholders have received a total shareholder return of 18% over the last year. Since the one-year TSR is better than the five-year TSR (the latter coming in at 4% per year), it would seem that the stock's performance has improved in recent times. Given the share price momentum remains strong, it might be worth taking a closer look at the stock, lest you miss an opportunity. It's always interesting to track share price performance over the longer term. But to understand Chuy's Holdings better, we need to consider many other factors. For example, we've discovered 1 warning sign for Chuy's Holdings that you should be aware of before investing here.
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We will like Chuy's Holdings better if we see some big insider buys. While we wait, check out this free list of growing companies with considerable, recent, insider buying.
Please note, the market returns quoted in this article reflect the market weighted average returns of stocks that currently trade on US exchanges.
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.
This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
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NEWS_375 | Chuy's Holdings, Inc.
AUSTIN, Texas, Jan. 03, 2023 (GLOBE NEWSWIRE) -- Chuy’s Holdings, Inc. (NASDAQ:CHUY) today announced that the Company will participate in two investor conferences in January.
On Monday, January 9, 2023, the Company will participate in a fireside chat discussion at the 25th Annual ICR Conference in Orlando, FL. Chuy’s discussion will begin at 8:30 AM ET and will be webcast live and archived on the Company’s website.
On January 22 – 24, 2023, the Company will also participate at the Jefferies Annual Winter Restaurant, Foodservice, Gaming, Lodging & Leisure Summit in Beaver Creek, CO. The webcast of Chuy’s fireside chat discussion will be available beginning on Saturday, January 21, 2023.
To access these webcasts, please visit www.chuys.com under the “Investors” tab.
About Chuy’s
Founded in Austin, Texas in 1982, Chuy's owns and operates full-service restaurants across 17 states serving a distinct menu of authentic, made from scratch Tex-Mex inspired dishes. Chuy's highly flavorful and freshly prepared fare is served in a fun, eclectic and irreverent atmosphere, while each location offers a unique, "unchained" look and feel, as expressed by the concept's motto "If you've seen one Chuy's, you've seen one Chuy's!" For further information about Chuy's, including the nearest location, visit the Chuy's website at www.chuys.com.
Investor Relations Contact:
Jeff Priester
investors@chuys.com
|
NEWS_376 | For those looking to find strong Consumer Staples stocks, it is prudent to search for companies in the group that are outperforming their peers. Coca-Cola European (CCEP) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? By taking a look at the stock's year-to-date performance in comparison to its Consumer Staples peers, we might be able to answer that question.
Coca-Cola European is one of 198 individual stocks in the Consumer Staples sector. Collectively, these companies sit at #4 in the Zacks Sector Rank. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.
The Zacks Rank emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. Coca-Cola European is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for CCEP's full-year earnings has moved 5.6% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the most recent data, CCEP has returned 1.9% so far this year. Meanwhile, stocks in the Consumer Staples group have lost about 2% on average. This means that Coca-Cola European is outperforming the sector as a whole this year.
Chewy (CHWY) is another Consumer Staples stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 8.2%.
In Chewy's case, the consensus EPS estimate for the current year increased 70.4% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Coca-Cola European belongs to the Beverages - Soft drinks industry, a group that includes 16 individual stocks and currently sits at #27 in the Zacks Industry Rank. On average, stocks in this group have gained 6.7% this year, meaning that CCEP is slightly underperforming its industry in terms of year-to-date returns.
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In contrast, Chewy falls under the Consumer Products - Staples industry. Currently, this industry has 29 stocks and is ranked #189. Since the beginning of the year, the industry has moved -23.7%.
Coca-Cola European and Chewy could continue their solid performance, so investors interested in Consumer Staples stocks should continue to pay close attention to these stocks.
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CocaCola Europacific Partners (CCEP) : Free Stock Analysis Report
Chewy (CHWY) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research |
NEWS_377 | ChampionX Corporation
THE WOODLANDS, Texas, Jan. 11, 2023 (GLOBE NEWSWIRE) -- ChampionX Corporation (“ChampionX” or the “Company”) (NASDAQ: CHX) announced today that it will release its fourth quarter and full year 2022 operating results on Wednesday, February 1, 2023, after the market closes. The Company has scheduled a conference call for Thursday, February 2, 2023, at 8:00 a.m. Central Time (9:00 a.m. Eastern Time) to discuss the results.
The call will be available by live webcast on ChampionX’s website at https://investors.championx.com or by dialing in as follows:
United States: 1-888-396-8049 International: 1-647-362-9199 Reference: ChampionX conference call ID: 46566315
Please register for the webcast or dial into the call approximately 15 minutes prior to the scheduled start time.
A replay of the conference call will be available for 30 days on ChampionX’s website.
About ChampionX
ChampionX is a global leader in chemistry solutions, artificial lift systems, and highly engineered equipment and technologies that help companies drill for and produce oil and gas safely, efficiently, and sustainably around the world. ChampionX’s expertise, innovative products, and digital technologies provide enhanced oil and gas production, transportation, and real-time emissions monitoring throughout the lifecycle of a well. To learn more about ChampionX, visit our website at www.championX.com.
Investor Contact:
Byron Pope – byron.pope@championx.com – 281-602-0094
Media Contact:
John Breed – john.breed@championx.com – 281-403-3751
|
NEWS_378 | GoPro's Mind-Blowing Sports and Lifestyle Content Available 24/7, Launching Spring 2023
LOS ANGELES, Jan. 11, 2023 /PRNewswire/ -- Multi-platform producer Roundtable Entertainment and premier streaming company Cinedigm (NASDAQ: CIDM) today announced a collaboration with GoPro, Inc. (NASDAQ: GPRO) to develop the GoPro Channel, with plans to premiere this year.
Courtesy of GoPro
The GoPro Channel joins Roundtable partner Cinedigm's extensive portfolio of over 30 streaming channels, which span several popular content genres dedicated to serving enthusiastic fan bases.
The GoPro channel will feature original programming curated from GoPro's extensive library of mind-blowing sports and lifestyle videos, including both professionally produced and award-winning user-generated content, as well as new series produced from GoPro content by Roundtable.
Viewers will be treated to the wide range of sports and adventure content that GoPro is known for, including water, snow, air, and motor sports, as well as biking, skating, fishing, and some of the world's most breathtaking nature and lifestyle programming. GoPro's catalogue has generated more than 3 billion views and 10 million subscribers on YouTube. The new channel will be made available as a FAST channel across connected TV, mobile, web, and other third-party platforms.
Dominic Ianno, Roundtable's President and CEO, stated, "We are so thrilled to partner with GoPro to serve viewers with some of the most unique and compelling sports content ever made." Roundtable Co-Founder Griffin Gmelich added "GoPro is known for harnessing the power of 'wow,' and this content will open up many advertising opportunities for like-minded brands."
Rick Loughery, Vice President of Global Marketing and Communications at GoPro stated, "GoPro strives to be a force for positivity, celebrating all things awesome while inspiring people to pursue their passions. We're excited for Roundtable and Cinedigm to help us amplify this mission by expanding the reach of our content catalogue to new audiences."
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"We are thrilled to be partnering with Roundtable to build the new GoPro channel," said Cinedigm Chief Strategy Officer & President Erick Opeka. "We look forward to collaborating with a brand known for celebrating positivity to deliver a new lifestyle streaming option that showcases the passions of GoPro fans."
About Roundtable Entertainment
Roundtable Entertainment produces and distributes must-watch films and unscripted television for a diverse audience. The company develops and licenses premium IP with potential for multi-format exploitation across scripted (film and episodic) and unscripted (episodic and podcasts), then synergizes that content with OTT distribution, allowing it to efficiently exploit IP across the full spectrum of platforms and windows. Roundtable's unique business model strongly positions the company to capitalize on the rapidly escalating need for new content across an exploding slate of streaming services.
For more information, visit www.roundtable-ent.com
About Cinedigm
For over 20 years, Cinedigm (NASDAQ:CIDM) has led the digital transformation of the entertainment industry. Today, Cinedigm entertains consumers around the globe by providing premium feature film and television series, enthusiast streaming channels and technology services to the world's largest media, retail, and technology companies. Cinedigm continues its legacy as an innovator through its adoption of next-generation technologies, such as artificial intelligence and machine learning, across its proprietary, highly scalable Matchpoint® technology platform. For more information, visit cinedigm.com.
Press Contacts for Cinedigm:
Don Ciaramella / Matt Biscuiti (New York)
Kevin Broderick (Los Angeles)
The Lippin Group for Cinedigm
cinedigm@lippingroup.com
Julie Milstead
investorrelations@cinedigm.com
Courtesy of Cinedigm (PRNewsfoto/Cinedigm Corp.)
Cision
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SOURCE Cinedigm Corp. |
NEWS_379 | Deal Nets More than 30-Hours of Originals, Including Live Show Performances by Cirque du Soleil.
LOS ANGELES, Jan. 4, 2023 /PRNewswire/ -- Cinedigm (NASDAQ: CIDM) announced today that it has signed an exclusive agreement with Cirque du Soleil to bring nearly 30 hours of live show performances, documentaries, and acrobatic content to AVOD, FAST and TVOD platforms across the US. Beginning March 2023, Cinedigm will feature blocks of Cirque du Soleil content on its flagship streaming service Cineverse along with Dove Channel, Docurama, and AsianCrush, in addition to releasing select content to its third-party platform partners. Cirque du Soleil plans on expanding its content offering by adding new series and show-based programs throughout 2023.
Courtesy of Cinedigm (PRNewsfoto/Cinedigm Corp.)
Cirque du Soleil's content library features several full-length Cirque du Soleil show performances such as KURIOS – Cabinet of Curiosities, VOLTA, LUZIA, AMALUNA, and KOOZA. Documentaries in the content deal, offering insider looks regarding some of the company's most iconic shows, range from Mystère – The Mystère of Mystère, Luzia – The Story of an Encounter to Alegría – A Wind of Change and Crystal – Gliding Higher. The content package also includes a variety of Cirque du Soleil Masterclasses, 60-minute and Best Of acrobatic specials.
Cirque du Soleil recently launched its new brand campaign Discover the Extraordinary. A year after the relaunch of its shows worldwide, Cirque du Soleil is renewing its commitment to take audiences beyond expectations, to the outer limits of the imagination, and to feel the deepest emotions. Four decades later, this commitment to always go further in creating the extraordinary fuels its daily mission.
Said Cinedigm Yolanda Macias/Chief Content Officer, "This partnership with Cirque du Soleil is a benchmark moment for Cinedigm as the word 'unique' simply does not do justice for the brand of entertainment and innovation this group of immensely talented performers brings to the stage." She added, "Our enthusiast viewers who have seen these shows will enjoy watching them again, and people who are new to the Cirque du Soleil creative universe will find themselves completely engrossed while consuming these amazing world-class events."
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"We are excited to partner with Cinedigm to continue expanding our entertainment offering beyond our staged productions,'" said Sebastien Ouimet, Head of Filmed and Immersive Entertainment for Cirque du Soleil. This partnership allows us to provide our fans with exclusive access to the front-row seats and behind-the-scenes of Cirque du Soleil's most iconic productions, directly from home."
About Cinedigm
For over 20 years, Cinedigm (NASDAQ: CIDM) has led the digital transformation of the entertainment industry. Today, Cinedigm entertains consumers around the globe by providing premium feature film and television series, enthusiast streaming channels and technology services to the world's largest media, retail, and technology companies. Cinedigm continues its legacy as an innovator through its adoption of next-generation technologies, such as artificial intelligence and machine learning, across its proprietary, highly scalable Matchpoint® technology platform. For more information, visit cinedigm.com.
About Cirque du Soleil Entertainment Group
Cirque du Soleil Entertainment Group is a world leader in live entertainment. On top of producing world-renowned circus arts shows, the Canadian organization brings its creative approach to a large variety of entertainment forms such as multimedia productions, immersive experiences, theme parks and special events. Going beyond its various creations, Cirque du Soleil Entertainment Group aims to make a positive impact on people, communities and the planet with its most important tools: creativity and art. For more information about Cirque du Soleil Entertainment Group, please visit CDSentertainmentgroup.com
PRESS CONTACT FOR CIDM:
Don Ciaramella / Matt Biscuiti (New York)
Kevin Broderick (Los Angeles)
The Lippin Group for Cinedigm
cinedigm@lippingroup.com
Julie Milstead
investorrelations@cinedigm.com
PRESS CONTACT FOR CIRQUE DU SOLEIL:
Amélie Robert
Amelie.robert@cirquedusoleil.com
Cision
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SOURCE Cinedigm Corp. |
NEWS_380 | GoPro Inc GPRO has collaborated with Roundtable Entertainment and Cinedigm to develop the GoPro Channel. The channel will be premiering by 2023 and will join Cinedigm's existing portfolio of more than 30 streaming channels.
Roundtable Entertainment and Cinedigm are both involved in the entertainment industry. Roundtable Entertainment is a multi-platform producer that specializes in creating and producing original content across different mediums, including TV, film and digital platforms.
Cinedigm, on the other hand, is a premier streaming company that operates a portfolio of more than 30 streaming channels spanning various content genres, such as movies, documentaries and lifestyle programming.
GoPro, Inc. Price and Consensus
GoPro, Inc. Price and Consensus
GoPro, Inc. price-consensus-chart | GoPro, Inc. Quote
The GoPro Channel will offer original content chosen from GoPro's collection of sports and lifestyle movies. There will be both professionally made and user-generated content on the channel and the new series Roundtable created utilizing GoPro footage.
The channel will showcase a wide range of sports and adventure content, including various types of water, snow, air and motorsports, as well as biking, skating, fishing and nature and lifestyle programming.
GoPro's existing catalogue has generated over 3 billion views and 10 million subscribers on YouTube, per the company report. The new channel will be available as a FAST channel across different platforms, including connected TVs, mobile, web and other third-party platforms.
Overall, the collaboration will help GPRO expand its content catalogue to a vast audience and open up advertising opportunities that are likely to contribute to the top line.
Headquartered in San Mateo, CA, GoPro is one of the leading manufacturers of the world's most handy camera and enabler of some of today's most immersive and engaging content. GoPro shipped 797 million camera units during the third quarter of 2022.
The company continues to invest heavily in research and development to launch new products and enhance its existing product line. In November 2022, the company rolled out three new versions of its Hero11 Black camera, such as Hero 11 Black and HERO11 Black Creator Edition.
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HERO11 Black Creator Edition camera is suitable for filmmaking, live streaming and vlogging. It has an ultra-lightweight design and includes an optional directional microphone.
GoPro has been expanding its footprint in emerging markets and is focused on scaling up its customer relationship management efforts. However, weakness in macroeconomic conditions, along with inflation and forex volatility, continue to be major concerns.
At present, GoPro has a Zacks Rank #3 (Hold). Shares of the company have lost 46.8% in the past year compared with the sub-industry’s decline of 33.7%.
Zacks Investment Research
Image Source: Zacks Investment Research
Stocks to Consider
Some better-ranked stocks from the broader consumer discretionary sector are RCI Hospitality RICK, Arista Networks ANET and Lululemon Athletica LULU. Arista currently sports a Zacks Rank #1 (Strong Buy), whereas RCI and Lululemon presently hold a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks.
The Zacks Consensus Estimate for RCI Hospitality’s 2023 earnings is pegged at $5.95 per share, up 2.6% in the past 60 days. The long-term earnings growth rate is anticipated to be 12%.
RCI Hospitality’s earnings beat the Zacks Consensus Estimate in three of the last four quarters, the average being 6.1%. Shares of RICK have increased 30.1% in the past year.
The Zacks Consensus Estimate for Arista Networks 2022 earnings is pegged at $4.37 per share, up 0.5% in the past 60 days. The long-term earnings growth rate is anticipated to be 17.5%.
Arista Networks’ earnings beat the Zacks Consensus Estimate in the last four quarters, the average being 12.7%. Shares of ANET have declined 0.9% in the past year.
The Zacks Consensus Estimate for Lululemon’s 2023 earnings is pegged at $9.94 per share, up 0.5% in the past 60 days. The long-term earnings growth rate is anticipated to be 20%.
Lululemon’s earnings beat the Zacks Consensus Estimate in the last four quarters, the average being 6.7%. Shares of LULU have decreased 22.4% in the past year.
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GoPro, Inc. (GPRO) : Free Stock Analysis Report
lululemon athletica inc. (LULU) : Free Stock Analysis Report
RCI Hospitality Holdings, Inc. (RICK) : Free Stock Analysis Report
Arista Networks, Inc. (ANET) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research |
NEWS_381 | Marks First Major Third-Party Content Deal Since Launch of Flagship Streaming Service
LOS ANGELES, Jan. 10, 2023 /PRNewswire/ -- Cinedigm Corp. (NASDAQ: CIDM), a premier streaming and entertainment company super-serving enthusiast fan bases, announced today that it has begun adding more than 18,000 additional film and television episodes to Cineverse, its flagship streaming service, through an expanded distribution agreement with leading independent film distributor, Filmhub.
Courtesy of Cinedigm (PRNewsfoto/Cinedigm Corp.)
The deal between the two companies marks the first major third-party content transaction completed on behalf of Cineverse, which launched this past September. With plans to offer the world's largest streaming film & television library, Cineverse will now carry more than 32,000 film and television episodes under this deal. All of these films and a wide range of additional titles will be available at cineverse.com, as well as across iOS, Android, Roku and Samsung connected television apps. In addition, support for Amazon Fire TV, LG webOS and Apple TV apps will be made available shortly.
Some of the films to be available on Cineverse as a result of this Filmhub deal include: An Honest Liar (2014), Rickshaw Girl (2022) Still Breathing (Brendan Fraser). These titles will also be featured across Cinedigm's other AVOD, SVOD, and FAST streaming brands within the Company's growing channel portfolio.
"As we recently stated after launching Cineverse, one of our primary goals is to offer consumers unlimited access to an immense diversity and range of entertainment content that consumers have been denied by other subscription-based services," remarked Erick Opeka, Cinedigm's President & Chief Strategy Officer. "Our partnership with Filmhub grants us full access to a huge catalog of high-quality independent films, documentaries, television series, and short-form content from around the world allowing us to easily surpass our goal of adding more than 15,000 titles in Q1 2023."
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"It's very exciting to partner with a similar technology-forward company in the video streaming business," stated Alan d'Escragnolle, CEO & Co-Founder of Filmhub. "As the world becomes more diverse in its interests and technology enables content personalization at scale, we're excited to see our premium new releases and full content catalog find new audiences on Cineverse and across Cinedigm's portfolio of streaming channels. This is a great win for both our distributor and individual producer clients."
At the center of Cineverse is an initial lineup of free, ad-supported streaming television (FAST) linear channels that showcase Cinedigm-owned and managed channels including AsianCrush, Bloody Disgusting, The Bob Ross Channel, The Country Channel, CONtv, CONtv Anime, Crime Hunters, Docurama, The Dove Channel, The Elvis Presley Channel, Fandor and Screambox.
ABOUT CINEDIGM
For more than 20 years, Cinedigm (NASDAQ: CIDM) has led the digital transformation of the entertainment industry. Today, Cinedigm entertains consumers around the globe by providing premium feature film and television series, enthusiast streaming channels and technology services to the world's largest media, retail and technology companies. As a leader in the rapidly evolving streaming ecosystem, Cinedigm continues its legacy as an innovator through its adoption of next-generation technologies, such as artificial intelligence and machine learning, through its proprietary, highly-scalable Matchpoint™ technology platform. For more information, visit cinedigm.com.
Cinedigm uses, and will continue to use, its website, press releases, SEC filings, and various social media channels, including Twitter (Cinedigm Twitter), LinkedIn (Cinedigm LinkedIn), Facebook (Cinedigm Facebook), StockTwits (Cinedigm Stocktwits) and the Company website (www.cinedigm.com) as additional means of disclosing public information to investors, the media and others interested in the Company. It is possible that certain information that the Company posts on its website, disseminated in press releases, SEC filings, and on social media could be deemed to be material information, and the Company encourages investors, the media and others interested in the Company to review the business and financial information that the Company posts on its website, disseminates in press releases, SEC filings and on the social media channels identified above, as such information could be deemed to be material information.
ABOUT CINEVERSE
Cineverse is your ticket to a world of entertainment delights, thrilling filmmaker discoveries, and more. In a world where algorithms steer viewers towards the predictable, Cineverse will buck that trend with a focus not only on passionate curation but also by leveraging Cinedigm's Matchpoint technology to provide content recommendations based on real-time feedback from viewers. From artfully entertaining American indies to the boldest in global film and television, emerging voices, and non-fiction storytelling, Cineverse's library of world-class, on-demand content, and lineup of free linear channels, will reward the curious and adventurous.
ABOUT FILMHUB
Filmhub is a worldwide, all-rights distributor powering distribution for filmmakers, distributors and sales agents. Founded by film composer and producer Klaus Badelt and Silicon Valley entrepreneur Alan d'Escragnolle, Filmhub revolutionizes end-to-end distribution by empowering its sales teams with automated asset fulfillment and payment processing. Filmhub was founded in 2020 and is backed by Andreessen Horowitz (a16z) as well as FundersClub, and 8VC. For more information about Filmhub, visit www.filmhub.com.
PRESS CONTACT FOR CIDM:
Don Ciaramella / Matt Biscuiti (New York)
Kevin Broderick (Los Angeles)
The Lippin Group for Cinedigm
cinedigm@lippingroup.com
Julie Milstead
investorrelations@cinedigm.com
PRESS CONTACT FOR FILMHUB:
press@filmhub.com
Cision
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SOURCE Cinedigm Corp. |
NEWS_382 | LOS ANGELES, Jan. 3, 2023 /PRNewswire/ -- Cinedigm Corp. (NASDAQ: CIDM), a premier streaming technology and entertainment company super-serving enthusiast fan bases, today announced that it has hired Marc Rashba as Executive Vice President, Partnerships. Utilizing his 20-plus years of experience, Rashba will be responsible for business development, programming content deals and selling Cinedigm's proprietary technology Matchpoint to third parties. In this newly created role, he will oversee all facets of partnerships including cultivating and managing strategic partnerships, programming releases, negotiating agreements, expanding digital distribution and driving innovative new revenue opportunities. His appointment is effective immediately and he'll report directly to Erick Opeka, Chief Strategy Officer, Cinedigm Corp & President of Cinedigm Networks.
Courtesy of Cinedigm
Throughout his career, Rashba has been responsible for matching content to the right audience, finding future trends and tech, and developing opportunities from unique businesses and relationships. Prior to joining Cinedigm, he most recently served as President at MovieMethod LLC where he oversaw global digital content sales, marketing & distribution. Rashba was responsible for driving strategy, licensing, channel growth and platform expansion, as well as developing go-to-market plans for FAST, OTT, SVOD, AVOD and apps. Clients included Sony Pictures, NBCU, Paramount, Anheuser-Busch, Verizon and others. During his career, he also worked with Anuvu, All3Media, Little Dot Studios, WildBrain, Fandango/Vudu, Vuulr and more. Rashba also served as Vice President, Digital Partnerships & Development at Sony Pictures Entertainment as well as various global marketing roles for Sony prior to that for over 15 years.
In connection with his joining the Company, Rashba received stock appreciation rights (the "SARs") for 100,000 shares of Cinedigm's Class A Common Stock (the "Common Stock"), having a 10-year term and an exercise price equal to $0.45, and vesting one-third (1/3) on December 15 of each of 2023, 2024, and 2025. The grant of SARs is an inducement grant pursuant to NASDAQ listing Rule 5635(c)(4).
About Cinedigm
For over 20 years, Cinedigm (NASDAQ: CIDM) has led the digital transformation of the entertainment industry. Today, Cinedigm entertains consumers around the globe by providing premium feature film and television series, enthusiast streaming channels and technology services to the world's largest media, retail, and technology companies. As a leader in the streaming industry, Cinedigm continues its legacy as an innovator through its adoption of next-generation technologies, such as artificial intelligence and machine learning, through its proprietary, highly scalable Matchpoint® technology platform. For more information, visit www.cinedigm.com.
Press Contacts for Cinedigm:
Don Ciaramella / Matt Biscuiti (New York)
Kevin Broderick (Los Angeles)
The Lippin Group for Cinedigm
cinedigm@lippingroup.com
Julie Milstead
investorrelations@cinedigm.com
Cision
View original content to download multimedia:https://www.prnewswire.com/news-releases/cinedigm-appoints-marc-rashba-as-executive-vice-president-partnerships-301712783.html
SOURCE Cinedigm Corp. |
NEWS_383 | Today we'll do a simple run through of a valuation method used to estimate the attractiveness of Ciena Corporation (NYSE:CIEN) as an investment opportunity by projecting its future cash flows and then discounting them to today's value. One way to achieve this is by employing the Discounted Cash Flow (DCF) model. Believe it or not, it's not too difficult to follow, as you'll see from our example!
We would caution that there are many ways of valuing a company and, like the DCF, each technique has advantages and disadvantages in certain scenarios. If you want to learn more about discounted cash flow, the rationale behind this calculation can be read in detail in the Simply Wall St analysis model.
See our latest analysis for Ciena
Crunching The Numbers
We're using the 2-stage growth model, which simply means we take in account two stages of company's growth. In the initial period the company may have a higher growth rate and the second stage is usually assumed to have a stable growth rate. To begin with, we have to get estimates of the next ten years of cash flows. Where possible we use analyst estimates, but when these aren't available we extrapolate the previous free cash flow (FCF) from the last estimate or reported value. We assume companies with shrinking free cash flow will slow their rate of shrinkage, and that companies with growing free cash flow will see their growth rate slow, over this period. We do this to reflect that growth tends to slow more in the early years than it does in later years.
Generally we assume that a dollar today is more valuable than a dollar in the future, so we discount the value of these future cash flows to their estimated value in today's dollars:
10-year free cash flow (FCF) forecast
2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 Levered FCF ($, Millions) US$375.2m US$563.5m US$712.1m US$847.8m US$966.0m US$1.07b US$1.15b US$1.22b US$1.28b US$1.33b Growth Rate Estimate Source Analyst x4 Analyst x2 Est @ 26.38% Est @ 19.06% Est @ 13.93% Est @ 10.35% Est @ 7.84% Est @ 6.08% Est @ 4.85% Est @ 3.99% Present Value ($, Millions) Discounted @ 8.4% US$346 US$480 US$559 US$614 US$646 US$657 US$654 US$640 US$619 US$594
("Est" = FCF growth rate estimated by Simply Wall St)
Present Value of 10-year Cash Flow (PVCF) = US$5.8b
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The second stage is also known as Terminal Value, this is the business's cash flow after the first stage. For a number of reasons a very conservative growth rate is used that cannot exceed that of a country's GDP growth. In this case we have used the 5-year average of the 10-year government bond yield (2.0%) to estimate future growth. In the same way as with the 10-year 'growth' period, we discount future cash flows to today's value, using a cost of equity of 8.4%.
Terminal Value (TV)= FCF 2032 × (1 + g) ÷ (r – g) = US$1.3b× (1 + 2.0%) ÷ (8.4%– 2.0%) = US$21b
Present Value of Terminal Value (PVTV)= TV / (1 + r)10= US$21b÷ ( 1 + 8.4%)10= US$9.5b
The total value is the sum of cash flows for the next ten years plus the discounted terminal value, which results in the Total Equity Value, which in this case is US$15b. The last step is to then divide the equity value by the number of shares outstanding. Relative to the current share price of US$51.9, the company appears quite undervalued at a 50% discount to where the stock price trades currently. Valuations are imprecise instruments though, rather like a telescope - move a few degrees and end up in a different galaxy. Do keep this in mind.
dcf
The Assumptions
Now the most important inputs to a discounted cash flow are the discount rate, and of course, the actual cash flows. You don't have to agree with these inputs, I recommend redoing the calculations yourself and playing with them. The DCF also does not consider the possible cyclicality of an industry, or a company's future capital requirements, so it does not give a full picture of a company's potential performance. Given that we are looking at Ciena as potential shareholders, the cost of equity is used as the discount rate, rather than the cost of capital (or weighted average cost of capital, WACC) which accounts for debt. In this calculation we've used 8.4%, which is based on a levered beta of 1.066. Beta is a measure of a stock's volatility, compared to the market as a whole. We get our beta from the industry average beta of globally comparable companies, with an imposed limit between 0.8 and 2.0, which is a reasonable range for a stable business.
SWOT Analysis for Ciena
Strength
Debt is well covered by earnings.
Weakness
Earnings declined over the past year.
Opportunity
Annual earnings are forecast to grow faster than the American market.
Trading below our estimate of fair value by more than 20%.
Threat
Debt is not well covered by operating cash flow.
Revenue is forecast to grow slower than 20% per year.
Next Steps:
Although the valuation of a company is important, it shouldn't be the only metric you look at when researching a company. The DCF model is not a perfect stock valuation tool. Rather it should be seen as a guide to "what assumptions need to be true for this stock to be under/overvalued?" For instance, if the terminal value growth rate is adjusted slightly, it can dramatically alter the overall result. What is the reason for the share price sitting below the intrinsic value? For Ciena, there are three relevant aspects you should further research:
Risks: Consider for instance, the ever-present spectre of investment risk. We've identified 1 warning sign with Ciena , and understanding this should be part of your investment process. Future Earnings: How does CIEN's growth rate compare to its peers and the wider market? Dig deeper into the analyst consensus number for the upcoming years by interacting with our free analyst growth expectation chart. Other High Quality Alternatives: Do you like a good all-rounder? Explore our interactive list of high quality stocks to get an idea of what else is out there you may be missing!
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NEWS_384 | HANOVER, Md., January 04, 2023--(BUSINESS WIRE)--Ciena® Corporation (NYSE: CIEN) today announced its expected participation in the following upcoming event with the financial community. This event will be webcast live and recorded. Archived versions will be made available approximately 24 hours following the conclusion of the live event in the Events & Presentations page of the Investors section of Ciena’s website.
Needham Growth Conference
Tuesday, January 10, 2023 @ 12:45 p.m. Eastern Time
Speaker: David Rothenstein, Senior Vice President, Chief Strategy Officer and General Counsel
About Ciena
Ciena (NYSE: CIEN) is a networking systems, services and software company. We provide solutions that help our customers create the Adaptive Network™ in response to the constantly changing demands of their users. By delivering best-in-class networking technology through high-touch consultative relationships, we build the world’s most agile networks with automation, openness and scale. For updates on Ciena, follow us on Twitter @Ciena, LinkedIn, the Ciena Insights blog, or visit www.ciena.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20230104005631/en/
Contacts
Press Contact
Jamie Moody
Ciena Corporation
+1 (410) 694-5761
pr@ciena.com
Investor Contact
Gregg Lampf
Ciena Corporation
+1 (410) 694-5700
ir@ciena.com |
NEWS_385 | Cipher Mining Inc.
Odessa
Odessa Data Center Area C
Odessa
Odessa Data Center Staging Area
Produces 225 Bitcoin and Achieves New All-Time High Hash Rate Capacity of 2.8 EH/s in December 2022
NEW YORK, Jan. 10, 2023 (GLOBE NEWSWIRE) -- Cipher Mining Inc. (NASDAQ:CIFR) (“Cipher” or the “Company”), a leading developer and operator of bitcoin mining data centers, today announced unaudited production and operations updates for December 2022.
Key Highlights
Key Metrics December 2022* BTC Mined 225 BTC Sold 39 BTC Held 394 Deployed Fleet 28,000 Month End Operating Hash Rate (EH/s) 2.8
*Approximate values
Management Commentary
In December, in addition to operating its first three data centers, Cipher continued its buildout at Odessa at maximum velocity. Cipher started the month with the potential to mine up to ~3.6 bitcoin in a day at Odessa and finished with the potential to mine ~6.6 bitcoin in a day at the site1 — an ~84% increase in a single month.
“This rapid progress demonstrates the expertise of our amazing deployment and operations teams,” said Tyler Page, CEO of Cipher. “As is always the case at Cipher, we maintained a relentless focus on cost discipline, and announced during the month that we had purchased 7,200 new rigs at very attractive prices, bringing our total purchased fleet for self-mining to over 59,000 rigs. As we turn the calendar to look toward 2023, we remain focused on completing Odessa as quickly as we can. With an additional ~31,000 fully-paid-for rigs on site or in transit to Odessa, we anticipate expanding our self-mining capacity to ~6 EH/s in the first quarter of the year.”
Bitcoin Production and Operations Updates for December 2022
During the month of December, Cipher energized 8,326 new Bitmain and MicroBT miners, representing an increase in hash rate of ~0.8 EH/s and a ~40% increase relative to the previous month. With the increase in hash rate, Cipher produced ~225 BTC in December, representing a 137% increase in production relative to the previous month. As part of its regular treasury management process, Cipher sold ~39 BTC in December, ending the year with a balance of ~394 BTC.
Story continues
About Cipher
Cipher is an emerging technology company focused on the development and operation of bitcoin mining data centers in the United States. Cipher is dedicated to expanding and strengthening the Bitcoin network's critical infrastructure. Together with its diversely talented team and strategic partnerships, Cipher aims to be a market leader in bitcoin mining growth and innovation. To learn more about Cipher, please visit https://www.ciphermining.com/ .
Forward Looking Statements
This press release contains certain forward-looking statements within the meaning of the federal securities laws of the U.S. The Company intends such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995 and includes this statement for purposes of complying with these safe harbor provisions. Any statements made in this press release or during the business update conference call that are not statements of historical fact, including statements about our beliefs and expectations regarding our performance, strategy, expansion plans, future operations, future operating results, projected costs, prospects, plans, and objectives of our management, are forward-looking statements and should be evaluated as such. Forward-looking statements include information concerning possible or assumed future results of operations, including descriptions of our business plan and strategies. These forward-looking statements generally are identified by the words “believe,” “project,” “expect,” “anticipate,” “estimate,” “intend,” “strategy,” “future,” “forecast,” “opportunity,” “plan,” “may,” “should,” “will,” “would,” “will be,” “will continue,” “will likely result,” and similar expressions (including the negative versions of such words or expressions).
These forward-looking statements are based upon estimates and assumptions that, while considered reasonable by Cipher and its management, are inherently uncertain. Such forward-looking statements are subject to risks, uncertainties, and other factors that could cause actual results to differ materially from those expressed or implied by such forward looking statements. New risks and uncertainties may emerge from time to time, and it is not possible to predict all risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this press release, including but not limited to: volatility in the price of Cipher’s securities due to a variety of factors, including changes in the competitive and regulated industry in which Cipher operates, variations in performance across competitors, changes in laws and regulations affecting Cipher’s business, and the ability to implement business plans, forecasts, and other expectations and to identify and realize additional opportunities. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties described in the “Risk Factors” section of our Annual Report on Form 10-K filed with the Securities and Exchange Commission (“SEC”) on March 4, 2022, the “Risk Factors” sections of our Quarterly Report on Form 10-Q filed with the SEC on May 10, 2022 and on August 9, 2022, and in Cipher’s subsequent filings with the SEC including Cipher’s Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission (“SEC”) on November 14, 2022. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and Cipher assumes no obligation and, except as required by law, does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise.
Contacts:
Investor Contact:
Josh Kane
Head of Investor Relations at Cipher Mining
josh.kane@ciphermining.com
Media Contact:
Ryan Dicovitsky / Kendal Till
Dukas Linden Public Relations
CipherMining@DLPR.com
1 Assumes network hash rate of 250 EH/s and 900 bitcoins mined per day
Photos accompanying this announcement are available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/0259ffe6-47c0-492f-b7ad-44baa0bbca7b
https://www.globenewswire.com/NewsRoom/AttachmentNg/e362ea4d-4bb0-4731-a1f5-73f365c51b9b
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NEWS_386 | NEW YORK, Jan. 05, 2023 (GLOBE NEWSWIRE) -- Cipher Mining Inc. (NASDAQ: CIFR) (“Cipher” or the “Company”), a U.S.-based mining company, today announced it will participate in the 25th Annual Needham Growth Conference on January 12th.
Conference: 25th Annual Needham Growth Conference
Date: January 12, 2022
Presentation Time: 4:30pm ET
Webcast Link: https://wsw.com/webcast/needham128/cipm/2244149
The live webcast, presentation materials and replay will be available at the investor relations page of Cipher’s website at https://investors.ciphermining.com . For additional information, please contact the Cipher investor relations team at investors@ciphermining.com .
About Cipher
Cipher is an emerging technology company focused on the development and operation of Bitcoin mining data centers in the United States. Cipher is dedicated to expanding and strengthening the Bitcoin network’s critical infrastructure. Together with its diversely talented team and strategic partnerships, Cipher aims to be a market leader in Bitcoin mining growth and innovation. To learn more about Cipher, please visit https://www.ciphermining.com/ .
Contacts:
Investor Contact:
Joshua Kane
Head of Investor Relations at Cipher Mining
josh.kane@ciphermining.com
Media Contact:
Ryan Dicovitsky/Kendal Till
Dukas Linden Public Relations
CipherMining@DLPR.com
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NEWS_387 | Colliers International Group Inc
TORONTO, Jan. 10, 2023 (GLOBE NEWSWIRE) -- Leading diversified professional services and investment management firm Colliers (NASDAQ and TSX: CIGI) announced today the appointment of Luke Dawson as Head of Global Capital Markets. Dawson will set the global strategic agenda for Colliers Capital Markets, which includes advising clients, providing value-added services to accelerate clients’ investment strategies, and connecting capital with opportunities across all asset classes around the world. In addition to his new mandate, he will retain his existing role as Capital Markets leader for EMEA.
The appointment of Dawson marks an important step in accelerating success for clients around the world. For nearly two decades, Dawson has been an enterprising, collaborative, and results-driven leader taking a client-led approach with deep expertise across asset classes and boarders. In 2004, Dawson joined Colliers as Director of Corporate Development with a focus on M&A activity. Dawson then held several leadership roles within the Colliers Capital Markets business including business development, client engagement, investment sales and overall leadership across Central and Eastern European region. Most recently, as Managing Director of Cross Border Capital Markets, he was responsible for executing the regional strategy and driving growth of the Capital Markets service line.
“Building on our success as a leading Capital Markets advisor, our Capital Markets team is constantly growing and attracting top talent all over the world,” said Chris McLernon, Chief Executive Officer, Global Real Estate Services at Colliers. “We are excited for Luke to drive our Global Capital Markets strategy forward, delivering a best-in-class experience for our clients.”
“I am thrilled to be leading our Global Capital Markets platform and support both our clients and people around the world in connecting capital with opportunities that will accelerate success for investors and our business,” said Luke Dawson, Head of Global Capital Markets at Colliers. “With our continued growth, we are well positioned in all major markets, and I look forward to ensuring we remain at the forefront in providing expert knowledge and advice on investments.”
Story continues
With 1,500 Capital Markets professionals around the world, Colliers has continued to invest to drive results in its Global Capital Markets platform by recruiting world-class talent and strengthening Capital Markets capabilities, including its recent acquisition of Pangea .
Colliers Contact
Andrea Cheung
Global Manager, Communications
Andrea.cheung@colliers.com
416-324-6402
About Colliers
Colliers (NASDAQ, TSX: CIGI) is a leading diversified professional services and investment management company. With operations in 63 countries, our 18,000 enterprising professionals work collaboratively to provide expert real estate and investment advice to clients. For more than 27 years, our experienced leadership with significant inside ownership has delivered compound annual investment returns of approximately 20% for shareholders. With annual revenues of $4.6 billion and $92 billion of assets under management, Colliers maximizes the potential of property and real assets to accelerate the success of our clients, our investors, and our people. Learn more at corporate.colliers.com , Twitter @Colliers or LinkedIn .
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NEWS_388 | By Scott Kanowsky
Investing.com -- AstraZeneca PLC (LON:AZN) has agreed to acquire U.S. biotech CinCor Pharma Inc (NASDAQ:CINC) in a deal worth as much as $1.8 billion, as the Anglo-Swedish drugmaker looks to expand its pipeline of treatments for heart and kidney disorders.
In a statement, AstraZeneca said it will put forward a tender offer in cash of $26 per CinCor's outstanding shares, representing a 121% premium to the firm's closing price on Friday. The transaction will also include a non-tradable contingent value right of $10 per share in cash, which will be payable upon a "specified regulatory submission" of CinCor's baxdrostat blood pressure medication.
The combined value of both the upfront and maximum potential contingent payments, if met, comes to about $1.8B, 206% more than CinCor's Friday closing price.
The move will also see AstraZeneca snap up the cash and marketable securities on CinCor's balance sheet, which totaled approximately $522 million as of September 30.
The Massachusetts-based CinCor saw its share price fall sharply in November when phase 2 clinical trials of baxdrostat - a novel drug designed to lower blood pressure - found that it did not show significant results in patients suffering from uncontrolled hypertension.
But AstraZeneca said that the drug complements its strategy to provide more treatments for cardiorenal diseases, an area that it believes has a "high unmet medical need." The company added that baxdrostat could be combined with its chronic kidney disease drug Farxiga.
"Excess levels of aldosterone are associated with hypertension and several cardiorenal diseases, including chronic kidney disease and coronary artery disease and being able to effectively reduce this would offer a much-needed treatment option for these patients," said Mene Pangalos, executive vice president of biopharmaceuticals research and development at AstraZeneca.
Big pharmaceutical groups like AstraZeneca are expected to unveil a raft of acquisitions in 2023 after macroeconomic headwinds held back dealmaking last year. Analysts at consultancy PwC have estimated that mergers activity to amount to $225B - $275B this year, as drugmakers move to take advantage of ample cash piles and a drop in biotech valuations to address treatment pipeline gaps.
Story continues
Shares in AstraZeneca edged lower on Monday.
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NEWS_389 | (Bloomberg) -- AstraZeneca Plc agreed to buy US biotech CinCor Pharma Inc. for as much as $1.8 billion to gain a promising new treatment for hypertension and kidney disease.
Most Read from Bloomberg
The deal is the first sizable one for Astra since the $39 billion takeover of rare-disease specialist Alexion Pharmaceuticals Inc. in 2021, and it’s in keeping with Chief Executive Officer Pascal Soriot’s strategy to beef up the UK drugmaker’s pipeline.
Investors will receive $26 in cash for each CinCor share, plus a non-tradeable right to a $10 per share payment that’s contingent on the company making a regulatory submission for its lead therapy baxdrostat, Astra said Monday.
The upfront price of $1.3 billion is more than double CinCor’s closing price on Friday, and the maximum price is about triple.
Astra shares fell as much as 1.4% in London while CinCor more than doubled in New York, trading as high as $27.85.
Baxdrostat is intended to lower the blood pressure of people whose hypertension resists other treatments. CinCor suffered a setback in November, when the drug failed in one of several mid-stage clinical trials, causing the stock to plummet 47% in a day.
“It’s unfortunately part of drug development,” CinCor CEO Marc de Garidel said in an interview, adding that the results were a surprise. “There are things that didn’t go right, and we have to understand and AstraZeneca will also draw its own conclusion on that study to make sure that it doesn’t happen again.”
For Astra, the November results “made us pause,” Mene Pangalos, head of the firm’s biopharmaceuticals research, said in an interview. But after looking at various data as well as the biological rationale, “we felt that this was still a highly active molecule with a very good chance of being a medicine.”
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Baxdrostat’s peak revenue could be between $2 billion and $3 billion, according to Bryan Garnier analyst Alex Cogut.
Swiss biotech company Idorsia Ltd. is developing a medicine called aprocitentan for a similar population: patients with difficult-to-control hypertension. Still, Astra’s Pangalos noted that it’s a different mechanism as well as a different patient population to baxdrostat.
Astra said baxdrostat could potentially be combined with its own blockbuster Farxiga. Such a combination may help Astra navigate the loss of exclusivity on Farxiga in coming years, Susie Jana, an analyst at Shore Capital, wrote in a note to clients.
--With assistance from Alexandra Muller.
(Updates including CinCor and AstraZeneca comments in seventh and eighth paragraphs)
Most Read from Bloomberg Businessweek
©2023 Bloomberg L.P. |
NEWS_390 | CinCor Pharma Inc
WALTHAM, Mass., Jan. 09, 2023 (GLOBE NEWSWIRE) -- CinCor Pharma, Inc. (NASDAQ: CINC) today announced that it has entered into a definitive agreement with AstraZeneca under which AstraZeneca has agreed to acquire CinCor.
Marc de Garidel, Chief Executive Officer at CinCor, said: “We are excited about the proposed acquisition of CinCor Pharma by AstraZeneca as we believe it offers the prospect of accelerating the development timeline and expanding the breadth of benefits patients with cardiorenal diseases might obtain from baxdrostat, if approved. CinCor is committed to ensuring a smooth transition of the development responsibilities to AstraZeneca once the acquisition is consummated. Thank you to all who have played, and will continue to play, essential roles in developing and evaluating baxdrostat as a potential novel treatment for cardiorenal diseases.”
James Healy, M.D., Ph.D., Chairman of CinCor’s Board of Directors and Managing Partner at Sofinnova Investments, added: “AstraZeneca’s shared commitment to addressing the unmet medical need for patients with hypertension and cardiorenal disease will accelerate CinCor’s mission to develop and deliver life-changing therapies that improve patient care. The CinCor management team has laid very important scientific and clinical groundwork for the baxdrostat program, including the successful Phase 2 BrigHtn trial that was recently published in the New England Journal of Medicine. On behalf of CinCor’s Board of Directors, I would like to recognize and thank the CinCor team, scientific advisors and patients for their dedication and contributions to the advancement of the development of baxdrostat.”
Under the terms of the merger agreement, AstraZeneca is obligated to initiate a tender offer by January 23, 2023 to acquire all of CinCor’s outstanding shares for a price of $26.00 per share in cash at closing plus a non-tradable contingent value right of $10.00 per share in cash payable upon a specified regulatory submission of a baxdrostat product. The upfront cash portion of the consideration represents a transaction value of approximately $1.3 billion and a 121% premium over CinCor’s closing market price on January 6, 2023. Total consideration including the contingent value right, if the milestone is achieved, would be approximately $1.8 billion and a 206% premium over CinCor’s closing market price on January 6, 2023. CinCor’s Board of Directors has unanimously approved the transaction.
Story continues
The closing of the tender offer is subject to certain conditions, including the tender of shares of CinCor common stock representing at least a majority of the total number of CinCor’s outstanding shares, the expiration or termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 and other customary conditions. CinCor stockholders holding approximately 44.8% of CinCor common stock have entered into a tender and support agreement with AstraZeneca, pursuant to which such stockholders have agreed, among other things, to tender 100% of their shares of CinCor common stock in the tender offer, subject to the terms and conditions of such agreement. Upon the successful completion of the tender offer, AstraZeneca’s acquisition subsidiary will be merged with and into CinCor, and any remaining shares of common stock of CinCor will be cancelled and converted into the right to receive the same merger consideration (including the contingent value right) per share payable in the tender offer. Subject to the satisfaction of the conditions in the merger agreement, the acquisition is expected to close in the first quarter of 2023.
About CinCor
CinCor, founded in 2018, is a clinical-stage biopharmaceutical company with a mission to bring innovation to the pharmaceutical treatment of cardio-renal diseases. Its lead asset, baxdrostat (CIN-107), a highly selective, oral small molecule inhibitor of aldosterone synthase, is in clinical development for the treatment of hypertension and primary aldosteronism.
About Baxdrostat (CIN-107)
Baxdrostat is a highly selective, oral small molecule inhibitor of aldosterone synthase, the enzyme responsible for the synthesis of aldosterone in the adrenal gland, in development for patient populations with significant unmet medical needs, including treatment-resistant hypertension and primary aldosteronism. Hypertension, which is defined by the American College of Cardiology and the American Heart Association as resting blood pressure above 130/80 mm Hg, is generally acknowledged to be one of the most common preventable risk factors for premature death worldwide. Though often asymptomatic, hypertension significantly increases the risk of heart disease, stroke, and kidney disease, amongst other diseases. It is estimated that as much as 20% of the global population suffers from hypertension, including nearly one-half of the adult population in the U.S., or 116 million hypertensive patients.
Advisors
Centerview Partners LLC is acting as exclusive financial advisor and Cooley LLP is acting as legal advisor to CinCor. Covington & Burling LLP is acting as legal advisor to AstraZeneca.
Important Information about the Tender Offer
The tender offer described in this communication has not yet commenced. This communication is for information purposes only and is neither an offer to buy nor a solicitation of an offer to sell any securities of CinCor, nor is it a substitute for the tender offer materials that Cinnamon Acquisition, Inc. (“Purchaser”), a wholly owned subsidiary of AstraZeneca, is expected to file with the Securities and Exchange Commission (the “SEC”) upon commencement of the tender offer. The solicitation of an offer to tender and the offer to buy shares of CinCor’s common stock will only be made pursuant to a tender offer statement on Schedule TO, including an offer to purchase, a letter of transmittal and other related materials that Purchaser is expected to file with the SEC. In addition, CinCor is expected to file with the SEC a Solicitation/Recommendation Statement on Schedule 14D-9 with respect to the tender offer.
Once filed, investors will be able to obtain the tender offer statement on Schedule TO, the offer to purchase, the Solicitation/Recommendation Statement of CinCor on Schedule 14D-9 and related materials with respect to the tender offer and the proposed merger, free of charge at the website of the SEC at www.sec.gov or from the information agent named in the tender offer materials. Investors may also obtain, at no charge, the documents filed with or furnished to the SEC by CinCor under the “Investors” section of CinCor’s website at www.cincor.com.
Stockholders and Investors are strongly advised to read these documents when they become available, including the Solicitation/Recommendation Statement of CinCor on Schedule 14D-9 and any amendments thereto, as well as any other documents relating to the tender offer and the proposed merger that are filed with the SEC, carefully and in their entirety prior to making any decisions with respect to whether to tender their shares into the tender offer because they contain important information, including the terms and conditions of the tender offer and the proposed merger.
Cautionary Statement Regarding Forward-Looking Statements
Certain statements either contained in or incorporated by reference into this document constitute forward-looking statements within the meaning of the federal securities laws. Any express or implied statements that do not relate to historical or current facts or matters are forward-looking statements. These forward-looking statements generally include statements that are predictive in nature and depend upon or refer to future events or conditions, including, but not limited to statements related to CinCor’s business in general, the ability to complete and the timing of completion of the transactions contemplated by the Agreement and Plan of Merger dated as of January 8, 2023 by and among CinCor, Purchaser, and AstraZeneca (the “Merger Agreement”) including the parties’ ability to satisfy the conditions to the consummation of the tender offer and the other conditions set forth in the Merger Agreement and the possibility of any termination of the Merger Agreement. Words such as “believes,” “plans,” “anticipates,” “projects,” “estimates,” “expects,” “intends,” “strategy,” “future,” “opportunity,” “may,” “will,” “should,” “could,” “potential,” or similar expressions are intended to identify forward-looking statements. These forward-looking statements are based on CinCor’s current plans, objectives, estimates, expectations and intentions, involve assumptions that may never materialize or may prove to be incorrect and inherently involve significant risks and uncertainties, including factors beyond CinCor’s control, that could cause actual results, performance, or achievement to differ materially and adversely from those anticipated or implied in the statements, including, without limitation: uncertainties with respect to the timing of the tender offer and the proposed merger; uncertainties as to the number of shares of CinCor’s common stock that will be tendered in the tender offer; the risk that competing offers or acquisition proposals will be made; the possibility that various conditions to the consummation of the offer or the proposed merger may not be satisfied or waived, including that a governmental entity may prohibit, delay or refuse to grant approval for the consummation of the offer or the proposed merger at all or on acceptable terms or within expected timing; the risk that stockholder litigation in connection with the offer or the proposed merger may result in significant costs of defense, indemnification and liability; the effects of disruption from the transactions contemplated by the Merger Agreement on CinCor’s business and the fact that the announcement and pendency of such transactions may make it more difficult to establish or maintain relationships with employees and business partners; the possibility that the milestone related to the contingent value right will never be achieved and no milestone payment may be made; initial, interim, “top-line” and preliminary data from clinical trials announced or published from time to time may change; success in preclinical studies or earlier clinical trials may not be indicative of results in future clinical trials; enrollment and retention of patients in clinical trials could be delayed; CinCor relies and will rely on third parties to conduct, supervise and monitor existing clinical trials and potential future clinical trials; developments from the company’s competitors and the marketplace for the company’s products; and business, operations and clinical development timelines and plans may be adversely affected by the COVID-19 pandemic, geopolitical events, and macroeconomic conditions, including rising inflation and interest rates and uncertain credit and financial markets, and matters related thereto; and other risks and uncertainties affecting the company, including those described under the caption “Risk Factors” and elsewhere in CinCor’s Annual Report on Form 10-K for the year ended December 31, 2021 filed with the SEC on March 22, 2022, CinCor’s Quarterly Report on Form 10-Q for the three months ended March 31, 2022 filed with the SEC on May 10, 2022, CinCor’s Quarterly Report on Form 10-Q for the three months ended June 30, 2022 filed with the SEC on August 8, 2022, CinCor’s Quarterly Report on Form 10-Q for the three months ended September 30, 2022 filed with the SEC on November 3, 2022, and other filings and reports that CinCor may file from time to time with the SEC. Other risks and uncertainties of which CinCor is not currently aware may also affect CinCor’s forward-looking statements and may cause actual results and the timing of events to differ materially from those anticipated. These risks and uncertainties may be amplified by macroeconomic conditions, including volatility and uncertainty in financial markets. All forward-looking statements contained in or incorporated by reference into this document speak only as of the date on which they were made and are based on management’s assumptions and estimates as of such date. CinCor undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by law.
Contacts: Investors: Michael W. Kalb Bob Yedid CinCor Pharma, Inc. LifeSci Advisors EVP and CFO ir@CinCor.com
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NEWS_391 | (Adds details)
Jan 9 (Reuters) - AstraZeneca said on Monday it will buy U.S.-based clinical-stage biopharmaceutical firm CinCor Pharma Inc in a deal valued at about $1.8 billion to strengthen its pipeline of heart and kidney drugs.
AstraZeneca said it will pay $26 per CinCor share in cash, a premium of nearly 121% to the stock's closing price on Friday.
The offer also includes a non-tradable contingent value right of $10 per share in cash payable upon a specified regulatory submission of CinCor's baxdrostat, which is being developed to treat cardiorenal diseases.
Including this, the offer represent a 206% premium to CinCor's shares close on Friday. (Reporting by Radhika Anilkumar in Bengaluru; Editing by Savio D'Souza) |
NEWS_392 | By Chris Wack
Cingulate Inc. said Wednesday it has begun the first Phase 3 clinical trial of its lead candidate CTx-1301, an investigational, extended release tablet formulation of dexmethylphenidate, a compound approved by the U.S. Food and Drug Administration for the treatment of attention deficit/hyperactivity disorder.
The biopharmaceutical company said that the Phase 3 clinical trial is an adult dose-optimization study to assess the onset and duration of efficacy along with the safety of CTx-1301 in adults with ADHD compared to placebo.
The trial is expected to take three months to complete and initial results are expected in the first half of 2023.
On Tuesday, the company said it might sell up to $2.65 million of its stock from time to time.
Cingulate shares were up 10% at $1.12 in premarket trading.
Write to Chris Wack at chris.wack@wsj.com |
NEWS_393 | Cingulate Inc (NASDAQ: CING) has initiated the first Phase 3 clinical trial of its lead candidate CTx-1301, an extended-release tablet formulation of dexmethylphenidate, a compound approved by the FDA for attention-deficit/hyperactivity disorder (ADHD).
What Happened: The Phase 3 trial is an adult dose-optimization study to assess the onset and duration of efficacy and the safety of CTx-1301 in adults with ADHD compared to a placebo.
The trial is expected to take three months to complete, and initial results are expected in the first half of 2023.
The company says that CTx-1301 is the first medication aiming to achieve fast onset of action (in 30 minutes or less) and efficacy that lasts up to 16 hours.
Related: Cingulate Shares Fall After Timeline Update For Its Lead Candidate In ADHD.
Why It Is Important: Cingulate’s proprietary PTR platform unlocks the opportunity to provide once-daily, multi-dose delivery tablets in large addressable markets, including the $18 billion U.S. ADHD market.
The PTR platform can deliver medications in other large markets, including anxiety (CTx-2103 in development), insomnia, depression, bipolar disorder, Parkinson’s disease, xerostomia (dry mouth), migraine, and hypothyroidism.
Price Action: CING shares closed at $1.07 on Tuesday.
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NEWS_394 | Cingulate Inc.
Trial Results Expected 1H 2023
Company to Host Investor and Business Development Meetings Adjacent to Upcoming J.P. Morgan Healthcare Conference in San Francisco
KANSAS CITY, Kan., Jan. 04, 2023 (GLOBE NEWSWIRE) -- Cingulate Inc. (NASDAQ: CING), a biopharmaceutical company utilizing its proprietary Precision Timed Release™ (PTR™) drug delivery platform technology to build and advance a pipeline of next-generation pharmaceutical products, today announced the initiation of the first Phase 3 clinical trial of its lead candidate CTx-1301, a novel, investigational, trimodal, extended release tablet formulation of dexmethylphenidate, a compound approved by the U.S. Food and Drug Administration (FDA) for the treatment of attention deficit/hyperactivity disorder (ADHD).
Along with the commencement of its Phase 3 trial, the Company announced that Shane J Schaffer, Chairman and Chief Executive Officer (CEO), will host investor and business development meetings January 9-11, 2023, in San Francisco, CA. The meetings will take place at the same time as the annual J.P. Morgan Healthcare Conference. To request a meeting, please contact Cingulate Investor Relations at mkreps@darrowir.com.
The Phase 3 clinical trial is an adult dose-optimization study to assess the onset and duration of efficacy along with the safety of CTx-1301 in adults with ADHD compared to placebo. The trial is expected to take three months to complete and initial results are expected in the first half of 2023.
“Stimulants have been the gold standard for ADHD treatment for over half of a century, and while these medications can be effective in addressing ADHD symptoms, no currently available formulation has been able to offer patients a single dose providing efficacy across the entire active day,” said Shane J Schaffer, Chairman and CEO, Cingulate. “Developing a true once-daily stimulant medication for ADHD means, along with addressing the crash-and-rebound effect, that we eliminate the problematic booster and recovery doses that sixty percent of patients have to take every single day. In addition to the added cost and complexity of multiple doses, boosters have the potential to be abused or diverted, and often cause unwanted side effects due to the timing of when they are taken and the manner in which they are released in the body.”
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Of the multitude of medications available for the more than 17 million child, adolescent, and adult patients in the U.S. living with ADHD, no currently available medications offer a single oral dose that provides patients entire active-day efficacy. This Phase 3 trial is being conducted in an Adult Laboratory Setting (ALS) which has been used extensively to evaluate the efficacy of ADHD medications. CTx-1301 is the first medication aiming to achieve fast onset of action (in 30 minutes or less) and efficacy that lasts up to 16 hours.
“Cingulate’s approach to ADHD provides medication from proven molecules already available and well understood by providers, but for the first time ever, in a single tablet that is designed to provide entire active-day duration,” said Ann Childress, M.D., President, Center for Psychiatry and Behavior Medicine, Inc., and lead investigator in the CTx-1301 Phase 3 trial. “Physicians have been wanting a treatment that provides entire active-day efficacy to treat ADHD. CTx-1301 is specifically designed to deliver three releases of medication, eliminating the need for a booster pill, with the goal of improving patient outcomes.”
Cingulate’s proprietary PTR platform unlocks the opportunity to provide once-daily, multi-dose delivery tablets in large addressable markets, including the $18 billion U.S. ADHD market. Cingulate’s approach is designed to provide entire active-day efficacy and a fast onset of action in a single tablet with the potential for improved tolerability. Additionally, Cingulate’s approach aims to reduce patient cost by offering eight dose strengths that medical professionals can use to optimize a patient’s medication with a single co-pay.
The PTR platform has the opportunity to be used for delivery of medications in other large markets, including anxiety (CTx-2103 in development), insomnia, depression, bipolar disorder, Parkinson’s disease, xerostomia (dry mouth), migraine, and hypothyroidism. Cingulate is available to partner with existing therapeutic providers in these and other categories to improve delivery and provide ideal, once-daily dosing solutions for patients.
About Attention Deficit/Hyperactivity Disorder (ADHD)
ADHD is a chronic neurobiological and developmental disorder that affects millions of children and often continues into adulthood. The condition is marked by an ongoing pattern of inattention and/or hyperactivity-impulsivity that interferes with functioning or development.
In the U.S., approximately 6.4 million children and adolescents (11 percent) aged under the age of 18 have been diagnosed with ADHD. Among this group, approximately 80 percent receive treatment, with 65 percent demonstrating clinical ADHD symptoms that persist into adulthood. Adult ADHD prevalence is estimated at approximately 11 million patients (4.4 percent), almost double the size of the child and adolescent segment combined, however, only an estimated 20 percent receive treatment.
Although there is no single medical, physical, or genetic test for ADHD, qualified mental health care professionals and physicians can provide a diagnostic evaluation after gathering information from multiple sources, including: ADHD symptom checklists, standardized behavior rating scales, detailed histories of past and current functioning, and information obtained from family members or significant others who know the person well. Some practitioners will also conduct tests of cognitive ability and academic achievement to rule out a possible learning disability.
About the CTx-1301 Phase 3 Trial
The first Phase 3 study (CTx-1301-022, NCT05631626) for CTx-1301 is a single-center, dose-optimized, double-blind, randomized, placebo-controlled, parallel efficacy and safety ALS study with CTx-1301 in approximately 25 adults aged 18 to 55 years with ADHD. The study will be comprised of a screening period, a dose-optimization phase, a double-blind randomized phase, and a safety follow-up phase. Subjects will undergo a screening visit prior to entering a five-week dose-optimization phase.
During the dose-optimization phase, subjects will have weekly visits and will be titrated to doses ranging between 25 mg and 50 mg of CTx-1301. Cingulate is utilizing an ALS, which enables the Company to facilitate repeated assessments over the course of a day to evaluate the onset and duration of efficacy provided by CTx-1301. Eligible subjects will be randomized to their optimal dose or placebo in a 1:1 ratio after completing a practice visit with four Permanent Product Measure of Performance (PERMP) assessments. Subjects will take their assigned/randomized dose over the following seven-day period. On the seventh day, subjects will complete a full ALS visit. The duration of the full ALS visit will be approximately 17 hours. Subjects will have an in-clinic safety follow-up visit within seven days after the full ALS visit.
The primary objective of CTx-1301-022 is to evaluate the efficacy of CTx-1301 compared to placebo in treating adults with ADHD in an ALS study. Secondary objectives include determination of the onset and duration of clinical effect of CTx-1301 in treating ADHD in adults in an ALS study and to determine safety and tolerability of CTx-1301 compared to placebo. The study will also evaluate the quality and satisfaction of prior medication to CTx-1301.
The Phase 3 clinical trial program for CTx-1301 will be conducted in the U.S. and is instrumental for the filing of the New Drug Application (NDA) to the FDA, expected in the first half of 2024.
About CTx-1301
Cingulate’s lead candidate, CTx-1301, utilizes the Company’s proprietary PTR drug delivery platform to create a breakthrough, multi-core formulation of the active pharmaceutical ingredient dexmethylphenidate, a compound approved by the FDA for the treatment of ADHD. Dexmethylphenidate is part of the stimulant class of medicines and increases norepinephrine and dopamine activity in the brain to affect attention and behavior.
While stimulants are the gold-standard of ADHD treatment due to their efficacy and safety, the long-standing challenge remains, providing patients entire active-day duration of action. CTx-1301 is designed to precisely deliver three releases of medication at the predefined time, ratio, and style of release to optimize patient care in one tablet. The result is a rapid onset and entire active-day efficacy, with the third dose being released around the time when other extended-release stimulant products begin to wear off.
The company has initiated the first of two Phase 3 clinical studies of CTx-1301 to support its NDA submission. The pivotal, Phase 3 fixed-dose trial in children and adolescents is scheduled to begin in mid-2023.
About Precision Timed Release™ (PTR™) Platform Technology
Cingulate is developing ADHD and anxiety disorder product candidates capable of achieving true once-daily dosing using the Company’s innovative PTR drug delivery platform technology. It incorporates a proprietary Erosion Barrier Layer (EBL) providing control of drug release at precise, pre-defined times with no release of drug prior to the intended release. The EBL technology is enrobed around a drug-containing core to give a tablet-in-tablet dose form. It is designed to erode at a controlled rate until eventually the drug is released from the core tablet. The EBL formulation, Oralogik™, is licensed from BDD Pharma.
Cingulate intends to utilize its PTR technology to expand and augment its clinical-stage pipeline by identifying and developing additional product candidates in other therapeutic areas where one or more active pharmaceutical ingredients need to be delivered several times a day at specific, predefined time intervals and released in a manner that would offer significant improvement over existing therapies.
For more information visit Cingulate.com/technology.
About Cingulate Inc.
Cingulate Inc. (NASDAQ: CING), is a biopharmaceutical company utilizing its proprietary PTR™ drug delivery platform technology to build and advance a pipeline of next-generation pharmaceutical products, designed to improve the lives of patients suffering from frequently diagnosed conditions characterized by burdensome daily dosing regimens and suboptimal treatment outcomes. With an initial focus on the treatment of ADHD, Cingulate is identifying and evaluating additional therapeutic areas where PTR technology may be employed to develop future product candidates, including to treat anxiety disorders. Cingulate is headquartered in Kansas City. For more information visit Cingulate.com.
Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements include all statements, other than statements of historical fact, regarding our current views and assumptions with respect to future events regarding our business, including statements with respect to our plans, assumptions, expectations, beliefs and objectives with respect to product development, clinical studies, clinical and regulatory timelines, market opportunity, competitive position, business strategies, potential growth opportunities and other statements that are predictive in nature.
These statements are generally identified by the use of such words as “may,” “could,” “should,” “would,” “believe,” “anticipate,” “forecast,” “estimate,” “expect,” “intend,” “plan,” “continue,” “outlook,” “will,” “potential” and similar statements of a future or forward-looking nature. Readers are cautioned that any forward-looking information provided by us or on our behalf is not a guarantee of future performance. Actual results may differ materially from those contained in these forward-looking statements as a result of various factors disclosed in our filings with the Securities and Exchange Commission (SEC), including the “Risk Factors” section of our Annual Report on Form 10-K filed with the SEC on March 28, 2022. All forward-looking statements speak only as of the date on which they are made, and we undertake no duty to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except to the extent required by law.
Investor Relations: Media Relations: Matt Kreps Thomas Dalton Melyssa Weible Darrow Associates Vice President, Investor & Public Relations, Cingulate Elixir Health Public Relations mkreps@darrowir.com tdalton@cingulate.com mweible@elixirhealthpr.com (214) 597-8200 (913) 942-2301 (201) 723-5805
CING-US-117-0124
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NEWS_395 | Companies to Demonstrate New "Retail Experience Platform" at NRF 2023: Retail’s Big Show
NEW YORK & DENVER, January 09, 2023--(BUSINESS WIRE)--CI&T (NYSE: CINT), a leader in driving digital transformation for global brands, and Crownpeak, a leading digital experience platform (DXP) provider, today announced a partnership to build retail experience management accelerators using both companies’ expertise in the industry and best-in-class technology. CI&T and Crownpeak will demonstrate their joint Retail Experience Platform at NRF 2023 Retail’s Big Show in New York from January 15-17 at booth #5659.
Continuing CI&T’s mission to build digital solutions to transform business, the Retail Experience Platform is a digital experience platform using composable commerce architecture with reusable components to support specialty retail sales. As a result, retail and e-commerce companies can bring their brand’s unique customer experiences to life – launching and continuously optimizing those experiences to maximize conversions, revenue, and customer engagement. Leveraging a composable architecture to build a personalized "best-of-stack" platform, companies do not have to compromise on future, scalable performance or uncontrolled costs.
"Our expertise in retail has us fully committed to working with top-tier partners like Crownpeak to develop these accelerators for brands to connect their retail experiences," said Young Pham, Chief Strategy Officer at CI&T. "From pandemic restrictions to major supply chain disruptions, the last few years have created the need for acceleration in how the store experience can be better digitized and support commerce. CI&T and Crownpeak coming together to prioritize retail modernization gives our clients more flexibility to efficiently integrate virtual consultation, product recommendation, virtual merchandising or personalization into their online stores."
CI&T's digital transformation expertise has accelerated business impact for leading brands around the world. By combining insight-driven digital strategy, customer-centric design, and best-in-class engineering, CI&T brings ideas to market faster, generating immediate business results.
Crownpeak helps bring enterprise marketers and IT professionals together with its hybrid, headless, and composable DXP architecture to deliver content-driven commerce – fast, secure, accessible, and transactional omnichannel digital experiences. Crownpeak also finalized its acquisition of Attraqt in December 2022. Attraqt is a leading provider of SaaS solutions that powers exceptional product discovery experiences and stronger online conversion for top brands and retailers globally.
"Retailers and e-commerce companies looking for both growth and IT stability are increasingly choosing Crownpeak to drive a better digital experience for their customers," said Jonah Paransky, CEO of Crownpeak. "Combining Crownpeak’s architecture with CI&T’s expertise and operational know-how will be a driving force for enterprises to orchestrate their brand, product, and service content across all digital and global mediums quickly and easily, and all on a modern IT architecture so customers have flexibility without compromise in building their own stacks."
The Retail Experience Platform from CI&T and Crownpeak will be demonstrated at NRF 2023: Retail's Big Show at the CI&T booth #5659 at the Javits Center on January 15-17. Experts from CI&T and Crownpeak will be on hand to walk through the strategy and technology of the Retail Experience Platform.
About CI&T
CI&T (NYSE:CINT) is a global digital specialist, a partner in digital transformation for 100+ large enterprises and fast growth clients. As digital natives, CI&T brings a 28-year track record of accelerating business impact through complete and scalable digital solutions. With a global presence in nine countries with a nearshore delivery model, CI&T provides strategy, data science, design, and engineering, unlocking top-line growth, improving customer experience, and driving operational efficiency. Recognized by Forrester as a Leader in Modern Application Development Services, CI&T is the Employer of Choice for more than 6,900 professionals.
About Crownpeak
Founded in 2001, Crownpeak empowers customers to orchestrate digital experiences effortlessly. Crownpeak's cloud-native SaaS Digital Experience Platform (DXP) enables over 1,000 market-leading brands to create personalized experiences across all content channels through enterprise-grade content management, accessibility, digital quality assurance, and product and shopper discovery tools.
Customers can compose, manage, and scale the right content across all devices and platforms to millions of global visitors – delivering experiences that drive commerce, conversion, loyalty, and engagement with their consumers, partners, and employees. For more information, please visit www.crownpeak.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20230109005199/en/
Contacts
Zella Panossian
Illume PR for CI&T
ciandt@illumepr.com
Michael Robinson
Crownpeak
+1 713-510-3218
Michael.Robinson@crownpeak.com |
NEWS_396 | VANCOUVER, Jan. 12, 2023 /PRNewswire/ -- City Office REIT, Inc. (NYSE: CIO) ("City Office" or the "Company") announced today it will release its financial results for the quarter and year ended December 31, 2022, before the market opens on Thursday, February 23, 2023.
City Office REIT Logo (PRNewsfoto/City Office REIT, Inc.)
City Office's management will hold a conference call at 11:00 am Eastern Time on February 23, 2023 to discuss the Company's financial results. Additionally, a supplemental financial package to accompany the discussion of the results will be posted on www.cioreit.com.
Webcast
Click on the webcast link under the "Investor Relations" section of the Company's website at www.cioreit.com.
Telephone Conference Call
Domestic: 1-844-200-6205
International: 1-929-526-1599
Passcode: 421891
Please dial in at least 10 minutes before the scheduled start time.
Conference Call Replay
Domestic: 1-866-813-9403
International: 44-204-525-0658
Passcode: 140203
A replay of the call will be available later in the day on February 23, 2023, continuing through May 24, 2023. A replay will also be available at "Webcasts & Events" in the "Investor Relations" section of the Company's website.
About City Office REIT, Inc.
City Office REIT is an internally-managed real estate company focused on acquiring, owning and operating high-quality office properties located predominantly in Sun Belt markets. City Office currently owns or has a controlling interest in 6.0 million square feet of office properties. The Company has elected to be taxed as a real estate investment trust for U.S. federal income tax purposes.
Contact
City Office REIT, Inc.
Anthony Maretic, CFO
+1-604-806-3366
investorrelations@cityofficereit.com
Cision
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SOURCE City Office REIT, Inc. |
NEWS_397 | NEW YORK, January 09, 2023--(BUSINESS WIRE)--CION Ares Management LLC, a joint venture between affiliates of CION Investments ("CION"), a leading manager of alternative investment solutions for individual investors, and Ares Management Corporation ("Ares"), a leading global alternative investment manager, announced that the CION Ares Diversified Credit Fund ("CADC" or the "Fund") increased its distribution rates for all share classes, effective as of January 1, 2023.
The annualized distribution rate for Class I, the Fund’s largest share class, increased to 7.29% of the NAV per share of $24.12, as of December 31, 2022, representing a 10% increase to the distribution rate for Class I. Other share classes may be available at certain intermediaries. More information regarding the distribution rate increase can be found in the Form 8-K filing dated as of December 8, 2022.
Over the past twelve months, the annualized distribution rate of the Fund’s Class I shares rose more than 26%, from $1.39 per share to $1.76 per share.
CION co-CEO Michael A. Reisner noted, "We believe that the performance of the Fund throughout the volatility experienced during 2022 is a testament to the Fund’s dynamic allocation process, defensive positioning, and disciplined investment approach."
CADC invests in illiquid and liquid credit investments, seeking superior risk-adjusted returns across various market cycles in a continuously offered interval fund structure. The Fund employs a dynamic asset allocation framework, leveraging the advisor’s extensive operational resources, infrastructure and origination network. The Fund is currently distributed through a broad universe of RIAs, independent broker-dealers, and wirehouses.
ABOUT CION INVESTMENTS
CION Investments is an open sourced solution provider and a leading manager of alternative investment solutions designed to redefine the way individual investors can build their portfolios and help meet their long-term investment goals. CION Investments currently sponsors, among other products, CION Investment Corporation (NYSE: CION), a leading publicly listed business development company that currently manages approximately $1.9 billion in assets, and also sponsors, through CION Ares Management, the CION Ares Diversified Credit Fund, a globally diversified interval fund that currently manages approximately $3.6 billion in assets. CION Investments has also partnered with the Man Group to create unique, scalable, and accessible investment solutions, which began with Man Global Private Markets (Man GPM), Man Group’s private markets business.
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For more information, please visit www.cioninvestments.com.
ABOUT ARES MANAGEMENT CORPORATION
Ares Management Corporation (NYSE: ARES) is a leading global alternative investment manager offering clients complementary primary and secondary investment solutions across the credit, private equity, real estate and infrastructure asset classes. We seek to provide flexible capital to support businesses and create value for our stakeholders and within our communities. By collaborating across our investment groups, we aim to generate consistent and attractive investment returns throughout market cycles. As of September 30, 2022, Ares Management Corporation's global platform had approximately $341 billion of assets under management, with approximately 2,100 employees operating across North America, Europe, Asia Pacific and the Middle East. For more information, please visit www.aresmgmt.com.
FORWARD-LOOKING STATEMENTS
The information in this press release contains forward-looking statements within the meaning of the federal securities laws. These forward-looking statements are identified by words such as "may," "anticipates," "expects," "intends," "plans," "believes," "seeks," "estimates," "would," "could," "should," and variations of these words and similar expressions, including references to assumptions, forecasts of future results, shareholder diversification, institutional research coverage and availability and access to capital. These statements are not guarantees of future performance and are subject to risks, uncertainties, and other factors, some of which are beyond our control and are difficult to predict and could cause actual results to differ materially from those expressed or forecasted in the forward-looking statements. CADC undertakes no obligation to update any forward-looking statements contained herein to conform the statements to actual results or changes in its expectations.
View source version on businesswire.com: https://www.businesswire.com/news/home/20230109005572/en/
Contacts
Susan Armstrong
Head of Marketing
E: sarmstrong@cioninvestments.com |
NEWS_398 | Cerberus Sentinel
U.S. cybersecurity services firm continues expansion into Latin America
Scottsdale, Ariz., Jan. 10, 2023 (GLOBE NEWSWIRE) -- via InvestorWire -- Cerberus Sentinel (NASDAQ: CISO), an industry leader as a managed cybersecurity and compliance provider, based in Scottsdale, Ariz., announced that it has signed a definitive agreement for the acquisition of RAN Security , a cybersecurity company with headquarters in Buenos Aires, Argentina, and offices in Chile, Peru, Bolivia, and Paraguay. Under the terms of the agreement, RAN Security will become a wholly owned subsidiary of Cerberus Sentinel. The transaction is expected to close later in the year, subject to the satisfaction of customary closing conditions, including applicable regulatory approvals.
RAN Security provides a broad range of secured managed services to organizations across South America. Roberto Tursi, CEO, will continue to manage the company's team of professionals and will work closely with the leadership team in Latin America.
“RAN Security expands our growth strategy in Latin America and adds to our SOC/managed detection and response services,” said David Jemmett, CEO and founder of Cerberus Sentinel. “Cybersecurity requires global capabilities to properly address the security demands of businesses and organizations. RAN Security is an excellent cultural fit with the Cerberus Sentinel family of companies.”
“We are excited to join forces with Cerberus Sentinel and lead the future revolution of new security services,” said Roberto Tursi, RAN Security founder and CEO. “We believe joining the Cerberus Sentinel family of companies will result in our ability to deliver a more trusted security experience. Innovation, quality of services, and knowledge are values that we share with Cerberus Sentinel.”
RAN Security will continue to be based in Argentina. It is part of a growing network of companies acquired by Cerberus Sentinel in Latin America, including Arkavia, CUATROi, and NLT, to meet the cybersecurity needs of organizations across the continent.
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Cerberus Sentinel announced plans on Dec. 22 for a corporate rebrand and launch. At the heart of the rebranding is a change of the company name to CISO Global, Inc., website, and an update to its corporate logo. The new brand identity marks another major milestone in the evolution of Cerberus Sentinel, embodies the enthusiasm of its employees, and it is indicative of a company on the move.
Reflecting its growth since 2019 on three continents, including North America, South America, and Europe, Cerberus Sentinel leaders believe that creating a strong parent brand in the marketplace is essential while ensuring the new identity matches the global enterprise the company is actively becoming.
About Cerberus Sentinel
Cerberus Sentinel is an industry leader as a managed cybersecurity and compliance provider. The company is rapidly expanding by acquiring world-class cybersecurity, secured managed services, and compliance companies with top-tier talent that utilize the latest technology to create innovative solutions to protect the most demanding businesses and government organizations against continuing and emerging security threats and compliance obligations.
Safe Harbor Statement
This news release contains certain statements that may be deemed to be forward-looking statements under federal securities laws, and we intend that such forward-looking statements be subject to the safe-harbor created thereby. Such forward-looking statements include, among others, our expectation regarding the closing of the RAN Security acquisition; our expectation that the CEO of RAN Security will continue to manage the company’s team of professionals and will work closely with the leadership team in Latin America; our belief that RAN Security expands our growth strategy in Latin America and adds to our SOC/managed detection and response services; our belief that cybersecurity requires global capabilities to properly address the security demands of businesses and organizations; our belief that RAN Security is an excellent cultural fit with the Cerberus Sentinel family of companies; our belief that we will lead the future revolution of new security services; the belief that RAN Security joining the Cerberus Sentinel family of companies will result in the ability to deliver a more trusted security experience; our plans for a corporate rebranding and launch; and our belief that creating a strong parent brand in the marketplace is essential while ensuring the new identity matches the global enterprise the company is actively becoming. These statements are often, but not always, made through the use of words or phrases such as "believes," "expects," "anticipates," "intends," "estimates," “predict,” "plan," “project,” “continuing,” “ongoing,” “potential,” “opportunity,” "will," "may," "look forward," "intend," "guidance," "future" or similar words or phrases. These statements reflect our current views, expectations, and beliefs concerning future events and are subject to substantial risks, uncertainties, and other factors that could cause actual results to differ materially from those reflected by such forward-looking statements. Such factors include, among others, risks related to our ability to raise capital; our ability to increase revenue and cash flow and become profitable; our ability to recruit and retain key talent; our ability to identify and consummate acquisitions; our ability to acquire, attract, and retain clients; and other risks detailed from time to time in the reports filed with the Securities and Exchange Commission, including the Annual Report on Form 10-K for the fiscal year ended December 31, 2021 and the Quarterly Report on Form 10-Q for the quarter ended June 30, 2022. You should not place undue reliance on any forward-looking statements, which speak only as of the date they are made. Except as required by law, we assume no obligation and do not intend to update any forward-looking statements, whether as a result of new information, future developments, or otherwise.
Company Contact:
Neil Stinchcombe, CMO
Cerberus Sentinel
480-500-7294
Neil.Stinchcombe@cerberussentinel.com
Public Relations Contact:
Cathy Morley Foster
Eskenzi PR
925-708-7893
cathy@eskenzipr.com
Corporate Communications
IBN (InvestorBrandNetwork)
Los Angeles, California
www.InvestorBrandNetwork.com
310-299-1717 Office
Editor@InvestorBrandNetwork.com
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NEWS_399 | Most people feel a little frustrated if a stock they own goes down in price. But in the short term the market is a voting machine, and the share price movements may not reflect the underlying business performance. The Civista Bancshares, Inc. (NASDAQ:CIVB) is down 14% over a year, but the total shareholder return is -12% once you include the dividend. And that total return actually beats the market decline of 20%. Longer term shareholders haven't suffered as badly, since the stock is down a comparatively less painful 9.5% in three years.
It's worthwhile assessing if the company's economics have been moving in lockstep with these underwhelming shareholder returns, or if there is some disparity between the two. So let's do just that.
Check out our latest analysis for Civista Bancshares
While markets are a powerful pricing mechanism, share prices reflect investor sentiment, not just underlying business performance. One way to examine how market sentiment has changed over time is to look at the interaction between a company's share price and its earnings per share (EPS).
During the unfortunate twelve months during which the Civista Bancshares share price fell, it actually saw its earnings per share (EPS) improve by 0.5%. Of course, the situation might betray previous over-optimism about growth.
By glancing at these numbers, we'd posit that the the market had expectations of much higher growth, last year. But other metrics might shed some light on why the share price is down.
Revenue was pretty flat on last year, which isn't too bad. But the share price might be lower because the market expected a meaningful improvement, and got none.
The company's revenue and earnings (over time) are depicted in the image below (click to see the exact numbers).
It's probably worth noting that the CEO is paid less than the median at similar sized companies. But while CEO remuneration is always worth checking, the really important question is whether the company can grow earnings going forward. If you are thinking of buying or selling Civista Bancshares stock, you should check out this free report showing analyst profit forecasts.
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What About Dividends?
As well as measuring the share price return, investors should also consider the total shareholder return (TSR). The TSR is a return calculation that accounts for the value of cash dividends (assuming that any dividend received was reinvested) and the calculated value of any discounted capital raisings and spin-offs. Arguably, the TSR gives a more comprehensive picture of the return generated by a stock. We note that for Civista Bancshares the TSR over the last 1 year was -12%, which is better than the share price return mentioned above. The dividends paid by the company have thusly boosted the total shareholder return.
A Different Perspective
Although it hurts that Civista Bancshares returned a loss of 12% in the last twelve months, the broader market was actually worse, returning a loss of 20%. Of course, the long term returns are far more important and the good news is that over five years, the stock has returned 1.7% for each year. It could be that the business is just facing some short term problems, but shareholders should keep a close eye on the fundamentals. While it is well worth considering the different impacts that market conditions can have on the share price, there are other factors that are even more important. Even so, be aware that Civista Bancshares is showing 2 warning signs in our investment analysis , you should know about...
We will like Civista Bancshares better if we see some big insider buys. While we wait, check out this free list of growing companies with considerable, recent, insider buying.
Please note, the market returns quoted in this article reflect the market weighted average returns of stocks that currently trade on US exchanges.
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.
This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
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