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(Bloomberg) -- US regulators issued a scathing assessment of Boeing Co.’s safety culture, putting further pressure on the company as it contends with the fallout from a near-catastrophic accident at the start of the year.Most Read from BloombergBYD’s New $233,450 EV Supercar to Rival Ferrari, LamborghiniStock Rally Stalls at Start of Data-Packed Week: Markets WrapFreddie Mercury’s London Residence Lists at £30 MillionJacob Rothschild, Financier and Philanthropist, Dies at 87Poland’s Famously Frank Top Diplomat Lands a Blow With Rebuff of RussiaThe planemaker was faulted for ineffective procedures and a breakdown in communications between senior management and other members of staff, a panel of experts convened by the Federal Aviation Administration said in a report released Monday. Constant changes to complex procedures and trainings led to confusion, while other shortcomings hindered the average employee’s understanding of their role in how Boeing manages safety, according to the report, which was mandated by US lawmakers.“I really hope this is a wake-up call to the Boeing Company,” said Rich Plunkett, a member of the expert review panel and director of strategic development for the union that represents Boeing’s engineers.The report comes a day before Boeing Chief Executive Officer Dave Calhoun is set to meet with the head of the FAA, according to people familiar with the matter, heightening scrutiny following a Jan. 5 incident in which a panel covering an unused door flew off during an Alaska Airlines flight. The executive has made multiple public apologies since then in an effort to quell criticism from regulators, lawmakers and customers.“We will carefully review the panel’s assessment and learn from their findings, as we continue our comprehensive efforts to improve our safety and quality programs,” Boeing said in a statement.The 50-page report highlights the work still to be done at Boeing despite efforts to overhaul its culture and bolster safety practices after two fatal 737 Max crashes in 2018 and 2019 killed 346 people. The company has created a new chief aerospace safety officer position and adopted a more systematic approach to addressing potential risks known as a safety management system, among other actions.Story continuesYet the findings underscore how Boeing is still struggling with a more fundamental concern: ensuring that bad news from its factory floors reaches executives on the other side of the country.In a statement, the FAA said it will immediately begin a review of the report and “determine next steps regarding the recommendations as appropriate.”Distrust, RetaliationThe panel found that management oversight of employees responsible for investigative duties could “potentially compromise” safety and lead to retaliation. Surveys showed that many Boeing employees didn’t know how to flag potential safety issues or didn’t trust the “Speak Up” program the company put in place following a 2019 grounding of the 737 Max aircraft prompted by two fatal crashes.“Employee interviews revealed distrust in the anonymity of the Speak Up program, which questions the effectiveness of this reporting program,” the report found. “Ultimately, employees prefer to report safety issues to their managers.”In its work, the panel requested information from Boeing that demonstrated its commitment to safety. The materials it received “did not provide objective evidence of a foundational commitment to safety that matched Boeing’s descriptions.”Work on the safety culture report began in March 2023. It was required by Congress in the 2020 Aircraft Certification, Safety & Accountability Act, directing the FAA to convene experts to assess the practice of deputizing company employees to act as federal inspectors.That process was put under a microscope after the grounding of the 737 Max family in 2019 following the second fatal crash on the model. Some of the key designs linked to the crashes were approved by Boeing employees acting on behalf of US regulators.Similar issues with Boeing’s safety culture have arisen repeatedly in recent years. Questions were raised after the grounding of the 737 Max in 2019 following a pair of crashes, and with the manufacture of the larger 787 Dreamliner.The panel identified 27 findings and 53 associated recommendations, based on more than 250 interviews and more than 4,000 pages of Boeing documents. It called on Boeing to review its recommendations within six months and develop a plan to address them, with specific implementation dates shared with the FAA.“What do I hope comes out of this? That Boeing stops attacking its employees,” Plunkett, of the Society of Professional Engineering Employees in Aerospace, said in an interview. “That’s your source of excellence. Embrace them, including those represented by unions. Quit fighting them for the sake of profits.”Alaska Air AccidentThe January accident on a 737 Max 9 capped a string of other quality lapses at Boeing and key supplier Spirit AeroSystems Holdings Inc. over the past year. In response, the FAA placed additional inspectors at Boeing’s factories to oversee new planes as they’re built and launched audits at both companies.Four bolts meant to hold the so-called door plug in place apparently weren’t installed at the factory, according to a preliminary report by the National Transportation Safety Board.FAA Administrator Mike Whitaker has said that the agency may broaden its review if problems are found elsewhere. He also told US lawmakers that agency personnel may maintain a larger presence at Boeing’s plants over the longer term. He has said the expert panel’s findings would inform any additional steps by the agency to sharpen its oversight of the planemaker.Calhoun is set to meet Tuesday with Whitaker in Washington, DC, according to people familiar with the matter who asked not to be identified. The FAA chief intends to discuss Boeing’s quality control system, compliance with manufacturing requirements and expansion of its safety management systems, the agency said after Whitaker visited Seattle earlier this month. Such face-to-face interaction underscores the heightened scrutiny on Boeing and its main regulator.A separate FAA investigation is underway to determine whether Boeing failed to ensure that planes leaving its factory were built in accordance with design and safety standards. The agency has also blocked the company from increasing production rates of its cash-cow jetliner above current levels until it’s satisfied Boeing has quality under control.Calhoun has slowed factory output, shaken up management and withheld financial guidance for this year as he works to stabilize Boeing’s plants.Boeing stock was little changed at 3:13 p.m. in New York. Shares of the US planemaker have declined 23% so far in 2024, the worst performance among members of the Dow Jones Industrial Average.(Updates with comments from review panelist and FAA, details of Boeing’s planned meeting with FAA from third paragraph)Most Read from Bloomberg BusinessweekElon Musk’s Vegas Tunnel Project Has Been Racking Up Safety ViolationsThe High Cost of Eating Out in AmericaTranscript: Did Musk Buy Twitter to Keep His Movements Secret?Why Elon Musk Bought Twitter in the First PlaceCan the Masters of Hipster Cringe Conquer Hollywood With Wall Street Cash?©2024 Bloomberg L.P.

Bloomberg

Boeing Hit by Damning FAA Report Faulting Safety Culture

https://finance.yahoo.com/news/boeing-safety-culture-found-inadequate-172134379.html

e3481306-fea3-3246-9cc2-87f2c47e507f

BA

Boeing (BA) shares fell sharply Monday morning following a report from The Wall Street Journal that the Department of Justice has launched a criminal investigation into the company. This comes as Boeing continues to grapple with lingering headwinds stemming from a safety incident involving an Alaskan Airlines (ALK) flight in January.The Department of Justice's investigation will delve into Boeing's recent production and manufacturing mishaps, which have also impacted the broader airline industry, from flight availability to crew employment and ticket prices.For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.Editor's note: This article was written by Angel SmithVideo Transcript- Boeing, following this morning on a report from "The Wall Street Journal," saying the Department of Justice has launched a criminal investigation into the company. The DOJ is investigating that the incident that occurred in January, when a door plug blew out of an Alaska Airlines flight, leaving a hole on the plane, forced an emergency landing here.And you're taking a look at shares of BA down by about 3%. It's not even just what the DOJ is going to be looking into. It's also how this is impacting some of the airlines more broadly here. You've got Delta Airlines. Even as the CEO told me-- Ed Bastian told me on the most recent earnings results that he had full faith in Boeing, it still seems that there are, among all of the airlines that have orders in for any part of the max fleet, for Delta, specifically, that's the MAX 10, which they had expected to be delivered by 2025.Many of these airlines, Delta included, now pushing out that timeline. Delta had actually also taken action and announcing an agreement for 20 Airbus A350-1000 with options for 20 more. Those, though, are also expected to begin being delivered in 2026 here.So this really just places even more of a capacity consideration in front of many of these airlines, who are not just trying to restore capacity coming into last year and maintain that, but also making sure that their route schedules, they have enough aircrafts to deliver upon those route schedules, too.Story continues- Yeah, certainly, there are many headwinds facing Boeing, at least, in the short term. We've seen that reflected in the stock price since the start of the year. You're looking at shares off since January 1st, more than 20% off, just about 26% year to date, the worst performer that we have seen in the Dow Jones Industrial average.So putting that in perspective. And you take a look out here over the next couple of quarters what is going to be the catalyst to turn things around it? Seems like headline after headline is still laying out a very challenging roadmap for Boeing. Yes, CEO Dave Calhoun has reiterated the fact that he has full confidence in winning back some of that lost confidence that we have seen since the start of the year, really, over the last several years with all the unfortunate incidents that have happened surrounding Boeing's aircraft.But again, when you get comments, like you were just talking about from Ed Bastian over at Delta talking about how this could potentially impact the 737 MAX 10 in the future, a potential delay there. This could be an issue that may not be resolved now for some time to come. And could be an issue that continues to weigh on Boeing stock.- It has multiple prongs here, too. It impacts the airfare prices at the end of the day, too, especially if you're looking at some of the fleets not being able to have enough different routes that are coming on, so the frequency of the routes. It impacts the employment situation and the number of pilots that are expected to come on board.We already heard from one such airline, I believe it was United last week, that it said, for some of the pilot entry into their workforce, they've now been holding off on bringing people fully in off of those training programs and whatnot, so employment, airfare prices, then, of course, the investor perspective, as well here, too.

Yahoo Finance Video

Boeing faces criminal probe over manufacturing woes: WSJ

https://finance.yahoo.com/video/boeing-faces-criminal-probe-over-143214325.html

36f3de0a-9221-3218-a21d-8712209d2eeb

BA

With Boeing facing multiple government investigations, the company needs to make “a serious transformation” around its safety and manufacturing quality, Transportation Secretary Pete Buttigieg said Monday.The comments came one day after Buttigieg said the aircraft builder is under “enormous” scrutiny by his department since a panel blew off a Boeing 737 Max jetliner in midlfight.Over the weekend, The Wall Street Journal reported that the Department of Justice launched a criminal investigation into the Jan. 5 blowout on an Alaska Airlines jet. That followed the company's admission that it couldn't find records that the National Transportation Safety Board sought for work done on the panel at a Boeing factory.The Federal Aviation Administration, part of Buttigieg's department, is also investigating Boeing.“Obviously we respect the independence of DOJ (the Department of Justice) and NTSB (the National Transportation Safety Board) doing their own work,” Buttigieg told reporters Monday, "but we are not neutral on the question of whether Boeing should fully cooperate with any entity — NTSB, us, or DOJ. They should, and we expect them to.”Buttigieg said Boeing must “go through a serious transformation here in terms of their responsiveness, their culture and their quality issues.”Boeing gave a one-sentence response.“We will continue to cooperate fully and transparently with all government investigations and audits, as we take comprehensive action to improve safety and quality at Boeing," the company said.Alaska Airlines said it is cooperating with the Justice Department investigation.“In an event like this, it’s normal for the DOJ to be conducting an investigation,” the Seattle-based airline said in a statement. “We are fully cooperating and do not believe we are a target of the investigation.”Last week, Boeing, which is based in Arlington, Virginia, came under withering criticism by NTSB Chair Jennifer Homendy over the missing work records on the Alaska jet. She told a Senate committee that Boeing had repeatedly rebuffed her agency's attempts to get information ever since the blowout. Boeing disputed some of Homendy's claims; NTSB stood by her testimony.The FAA has barred Boeing from boosting production of Max jets and gave the company 90 days to come up with a plan to fix quality-control issues.

Associated Press Finance

Pressure on Boeing grows as Buttigieg says the company needs to cooperate with investigations

https://finance.yahoo.com/news/pressure-boeing-grows-buttigieg-says-225456251.html

47d8daf4-eb8e-37d4-8aaf-78a306be6af5

BAC

You could certainly do worse than ride Warren Buffett's stock-picking coattails. His Berkshire Hathaway portfolio boasts a market-beating long-term track record, after all. And he's managed to beat the market with a simple buy-and-hold approach rather than constantly swapping out existing holdings for hotter prospects.Just because a stock is currently in Berkshire's portfolio, however, doesn't mean it's a great pick for you to purchase at this time.With that as the backdrop, here's a closer look at two Warren Buffett stocks most investors can plow into right now, and one you might want to steer clear of -- at least for the time being.Bank of AmericaIf you're looking for excitement, pass on Berkshire Hathaway holding Bank of America (NYSE: BAC). It doesn't offer it.But if you're looking for reliable and consistent results, Bank of America is for you.The company doesn't need too much of an introduction. It's the nation's second-biggest banking name, with $2.5 trillion worth of assets on its books. Like most of its peers, it provides basic banking services like checking accounts and loans, as well as a variety of investment and wealth-management services. Also like most of the country's bigger banks, Bank of America works with corporations to help them raise capital. It's not a particularly complicated business, and it's not as if one of these entities enjoys a hyper-competitive edge.And yet, Bank of America is clearly something of a standout within the banking industry. It managed to add 130,000 new consumer checking accounts last quarter, and brought in 40,000 new brokerage and private-banking customers. Investment banking fee revenue improved 7% year over year despite the worldwide lull in capital markets activity. Its capital ratios and equity ratios are holding up pretty well, too, despite the wobbly economic environment.Perhaps the only worry in last quarter's numbers is the uptick in loan charge-offs, but even this growth was only slight. A mere 0.45% of the bank's total loan portfolio was written off last quarter, versus 0.35% a quarter earlier and 0.26% in the same quarter a year earlier. That's more than manageable.Story continuesThe point is, even if it is less than exciting, this is a solid company in a business that's never going to go away. The stock is currently sporting a dividend yield of 2.8%, paying shareholders for their patience.Bank of America is Berkshire's second-biggest holding, by the way. Its 1.03 million shares are worth a total of $35 billion.Occidental PetroleumJust when you think Buffett can't possibly want to own even more of a particular organization, he buys more. Berkshire Hathaway's purchase of 19.6 million shares of energy company Occidental Petroleum (NYSE: OXY) in the fourth quarter of last year brings Berkshire's tally up to 243.7 million shares. The whole stake is worth $14.5 billion, or roughly one-fourth of the oil and gas company's market cap.It was a somewhat curious pick when Berkshire first established the position back in 2019. While Occidental is a fine company as far as energy stocks go, it's not been a sector Buffett has seemingly been interested in for quite some time. That may have something to do with the fact that environmental concerns are slowly but surely working against traditional oil and gas companies. In this vein, the advent of renewable energy sources and the threat they pose to hydrocarbons may play a role in that relative disinterest as well.However, as time marches on, it's becoming increasingly clear that oil and natural gas are going to be needed for a long, long while. The International Energy Agency believes global consumption of oil, natural gas, and even coal will actually continue growing through 2030. Once reaching that peak six years down the road, demand will gradually fall all the way to 2050.Translation: There's still plenty of money to be made within this sector.There are also plenty of stocks to choose from as a means of capitalizing on this persistent demand. Of all these options, Occidental is arguably one of the best. Under the leadership of Vicki Hollub, the company seems to have a confident grip on which assets are worth investing in, and which are worth letting go.For instance, Occidental Petroleum is rumored to be working toward a sale of its natural gas pipeline operator Western Midstream Partners in order to pay down debt, but at the same time is acquiring CrownRock in an effort to expand its onshore operations in the Permian Basin. This kind of asset optimization ultimately sets the stage for wider profit margins.Capital One FinancialAt the other end of the spectrum, Buffett fans might want to hold off on any new positions in Capital One Financial (NYSE: COF) until the dust settles. The dust in question, of course, is the recent announcement that Capital One is making a $35 billion bid to acquire rival credit card company Discover Financial Services.On the surface it seems like a reasonably good fit. The two organizations' target markets and strategies are more similar than not. And there's little doubt that this team-up could prove a true competitive threat to credit card powerhouses Visa and Mastercard. Discover even manages its own payments network (albeit a smaller one than Visa or Mastercard) that could eventually handle Capital One cards as well.There's a reason, however, that Capital One Financial shares didn't budge following Monday's announcement of the bid. Two reasons, actually.One of these reasons is that while the strategic thinking behind the acquisition makes enough superficial sense, investors may not be entirely convinced the $35 billion price of the all-stock deal is worth it. Discover's 2023 net income of just under $3 billion on revenue of $16 billion is respectable to be sure. But Capital One is looking to pay a premium price for a company with a wobbly asset base and growing delinquencies and charge-offs.The other reason the market didn't respond all that bullishly to the news is that the deal may not close. The U.S. Justice Department must first approve the pairing, and it's been particularly wary of mergers within the banking sector lately. Green-lighting the acquisition won't necessarily push Capital One shares higher, yet forbidding the deal could potentially upend the stock.There's also the not-so-minor reality that integrating two companies, each with their own well-defined structures and custom-designed tech, often turns out to be more complicated than initially expected.The simple solution for interested investors? Look elsewhere -- at least for the time being. You don't need the drama that could soon unfurl here.Should you invest $1,000 in Capital One Financial right now?Before you buy stock in Capital One Financial, consider this:The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Capital One Financial wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.Stock Advisor provides investors with an easy-to-follow blueprint for success, including guidance on building a portfolio, regular updates from analysts, and two new stock picks each month. The Stock Advisor service has more than tripled the return of S&P 500 since 2002*.See the 10 stocks*Stock Advisor returns as of February 20, 2024Bank of America is an advertising partner of The Ascent, a Motley Fool company. Discover Financial Services is an advertising partner of The Ascent, a Motley Fool company. James Brumley has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Bank of America, Berkshire Hathaway, Mastercard, and Visa. The Motley Fool recommends Discover Financial Services and Occidental Petroleum and recommends the following options: long January 2025 $370 calls on Mastercard and short January 2025 $380 calls on Mastercard. The Motley Fool has a disclosure policy.2 Warren Buffett Stocks to Buy Hand Over Fist and 1 to Avoid was originally published by The Motley Fool

Motley Fool

2 Warren Buffett Stocks to Buy Hand Over Fist and 1 to Avoid

https://finance.yahoo.com/news/2-warren-buffett-stocks-buy-161300853.html

e9be161c-3c77-354c-bd44-3a1ed6bc36f5

BAC

(Bloomberg) -- Oil rose as physical markets in the US strengthened and demand from China showed signs of picking up.Most Read from BloombergBYD’s New $233,450 EV Supercar to Rival Ferrari, LamborghiniStock Rally Stalls at Start of Data-Packed Week: Markets WrapFreddie Mercury’s London Residence Lists at £30 MillionJacob Rothschild, Financier and Philanthropist, Dies at 87Poland’s Famously Frank Top Diplomat Lands a Blow With Rebuff of RussiaWest Texas Intermediate futures climbed 1.4% to settle above $77 a barrel, while Brent advanced to top $82. Trading volumes were muted as several market participants attend International Energy Week in London, a major industry gathering, where they are set to weigh the outlook for oil this year.US physical crude prices strengthened in recent weeks to the highs of the year as refineries benefiting from strong margins snapped up barrels and foreign buyers turned to American crude to avoid Red Sea shipping issues.Prices also got support from a brief shutdown in exports from an oil field in western Libya during the weekend and stepped-up US and allied strikes on Houthi targets to combat commercial shipping disruptions in the Red Sea region.Read More: Physical US Oil Prices Rise to Highs of Year on Refinery DemandSome positive signals on demand also are emerging. In China, a boom in travel during the Lunar New Year holidays has raised hopes of a more sustained recovery in consumption. Local refiners have been snapping up cargoes from across the world since the mid-February holiday, according to traders, as well as having increased term supplies from Saudi Arabia for March.Traders are awaiting US inflation data that will shape expectations for when the Federal Reserve will start cutting interest rates. In wider markets, a gauge of the US currency was steady, while most other commodities, including copper, were weaker.Oil has traded in a narrow band for the past two weeks, with tensions in the Middle East and OPEC+ supply curbs offsetting the impact of higher production from outside the group, including the US.Story continues“Oil prices should stay anchored near term” amid “substantial non-OPEC+ supply growth over the next few years,” Francisco Blanch, commodity strategist at Bank of America Corp., said in a report.The cartel and allies including Russia are widely expected to prolong their current cutbacks into the next quarter at their meeting early next month.To get Bloomberg’s Energy Daily newsletter into your inbox, click here.--With assistance from Yongchang Chin and Kateryna Kadabashy.Most Read from Bloomberg BusinessweekElon Musk’s Vegas Tunnel Project Has Been Racking Up Safety ViolationsThe High Cost of Eating Out in AmericaTranscript: Did Musk Buy Twitter to Keep His Movements Secret?Why Elon Musk Bought Twitter in the First PlaceCan the Masters of Hipster Cringe Conquer Hollywood With Wall Street Cash?©2024 Bloomberg L.P.

Bloomberg

Oil Rises on US Physical Market’s Strength, China Demand Hopes

https://finance.yahoo.com/news/crude-oil-holds-decline-technical-231716298.html

cba7bc41-91b9-3ad5-8e77-a4e5f37f088c

BAC

The most recent trading session ended with Bank of America (BAC) standing at $35.89, reflecting a +0.81% shift from the previouse trading day's closing. The stock's change was more than the S&P 500's daily loss of 0.11%. Meanwhile, the Dow experienced a rise of 0.12%, and the technology-dominated Nasdaq saw a decrease of 0.41%.The nation's second-largest bank's shares have seen an increase of 7.65% over the last month, surpassing the Finance sector's gain of 4.89% and the S&P 500's gain of 2.7%.The investment community will be closely monitoring the performance of Bank of America in its forthcoming earnings report. The company is scheduled to release its earnings on April 16, 2024. The company is forecasted to report an EPS of $0.77, showcasing a 18.09% downward movement from the corresponding quarter of the prior year. Simultaneously, our latest consensus estimate expects the revenue to be $25.22 billion, showing a 3.94% drop compared to the year-ago quarter.Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $3.14 per share and revenue of $99.7 billion, indicating changes of -8.19% and +1.14%, respectively, compared to the previous year.Investors might also notice recent changes to analyst estimates for Bank of America. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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 0.05% lower. Currently, Bank of America is carrying a Zacks Rank of #3 (Hold).Story continuesWith respect to valuation, Bank of America is currently being traded at a Forward P/E ratio of 11.35. This expresses a premium compared to the average Forward P/E of 11.17 of its industry.We can additionally observe that BAC currently boasts a PEG ratio of 1.62. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. As the market closed yesterday, the Banks - Major Regional industry was having an average PEG ratio of 1.59.The Banks - Major Regional industry is part of the Finance sector. With its current Zacks Industry Rank of 48, this industry ranks in the top 20% of all industries, numbering over 250.The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in 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 reportBank of America Corporation (BAC) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

Bank of America (BAC) Ascends While Market Falls: Some Facts to Note

https://finance.yahoo.com/news/bank-america-bac-ascends-while-214521377.html

ab225b61-51bb-3d97-bff1-31ef98855502

BAC

(Bloomberg) -- Reddit Inc. disclosed further details of what is set to be one of the year’s biggest initial public offerings, with the company and some existing shareholders seeking to raise as much as $748 million.Most Read from BloombergOne of the Most Infamous Trades on Wall Street Is Roaring BackStock Rally Stalls in Countdown to Inflation Data: Markets WrapTech CEOs Are Addicted to Taking Needless RisksThese Are the Best Countries for Wealthy ExpatsReddit and the holders are planning to sell 22 million shares for $31 to $34 each, the social media platform said in a filing Monday. About 15.3 million those shares will be sold by the company and the rest by the investors, who are Reddit employees.At the top of that range, Reddit, whose users helped create the meme stock frenzy of 2021, would have a market value of $5.4 billion, based on almost 159 million shares outstanding. Fully diluted to include employee stock options and restricted share units, the company’s valuation would be about $6.4 billion, the filing with the US Securities and Exchange Commission shows.About 8% of the IPO shares are being set aside for Reddit users and moderators who created accounts before Jan. 1, as well as some board members and friends and family of some employees and directors. Those shares won’t be subject to a lockup, meaning the owners can sell them on the opening day of trading, according to Reddit’s filing that confirms an earlier report by Bloomberg News.The IPO is being led by Morgan Stanley, Goldman Sachs Group Inc., JPMorgan Chase & Co. and Bank of America Corp., according to Reddit’s filings. Reddit plans for its shares to trade on the New York Stock Exchange under the symbol RDDT.The company intends to price the IPO on March 20 and begin trading the following day, according to people familiar with the matter who asked not to be identified because the information wasn’t public. A representative for Reddit didn’t immediately respond to a request for comment on the timing.Story continuesReddit’s ValuationReddit’s more than two-year slog to listing reflects the ups and downs of the market, beginning with its initial confidential filing in 2021, when IPOs on US exchanges set an an all-time record of $339 billion, according to data compiled by Bloomberg. Reddit raised funds that year valuing it at $10 billion, and Bloomberg News reported the following year that it could be valued at as much as $15 billion in an IPO.Meanwhile, IPOs in the US tumbled, reaching only $26 billion last year, the data show. In January, Bloomberg News reported that Reddit was weighing feedback from early meetings with potential IPO investors that it should consider a valuation of at least $5 billion.The company is a high-profile addition to the year’s roster of newly and soon-to-be public companies. The biggest of those listings was the $1.57 billion offering by Amer Sports Inc. in January. Astera Labs Inc., a software maker focused on artificial intelligence, said in a filing Friday that it would seek up to $534 million in its IPO, which will likely proceed Reddit’s.Read More: Intel-Backed Astera Seeks $534 Million in IPO With AI AppealReddit’s listing will be watched closely by IPO candidates such as Microsoft Corp.-backed data security start up Rubrik Inc. and health-care payments company Waystar Technologies Inc. Their deliberations come after a quartet of US listings led by semiconductor designer Arm Holdings Plc’s $5.23 billion offering in September failed to ignite a lasting rebound in the market.Shrinking LossesFounded in 2005, Reddit averaged 73.1 million daily active unique visitors in the fourth quarter, according to its filings. The company reported a net loss of $91 million on revenue of $804 million in 2023, compared with a net loss of about $159 million on revenue of $667 million a year earlier.Reddit’s largest shareholder is Advance Magazine Publishers Inc., part of the Newhouse family publishing empire that owns Conde Nast, which bought Reddit in 2006 and spun it out in 2011.Reddit said its millions of loyal users and moderators pose risks as well as a benefit for the company. Redditors have a historically combative relationship with the site, launching revolts over everything from racism on the platform to executives’ staffing decisions.Meme StocksThousands of members of the WallStreetBets forum — which boasts around 15 million users and helped popularize meme stocks like GameStop Corp. — voted to boost a forum post about shorting Reddit’s stock when it begins trading. Their reasons varied from the company’s lack of profitability to competitive concerns.Some of the largely anonymous users on Reddit expressed an interest in buying IPO shares, while others called the IPO a “mistake” or predicted that the stock will crash.“Honestly don’t believe it will be successful,” one user wrote. “Too many social media companies chasing a few dollars. They already throw all the ads at me and I will not pay them to disable it. I never clicked on an ad on purpose.”Read More: Reddit’s IPO Success Hinges on Company’s Unruly User BaseReddit co-founder and Chief Executive Officer Steven Huffman said in a signed letter included in the filings that the company has many opportunities to grow both the platform and the business.“Advertising is our first business, and advertisers of all sizes have discovered that Reddit is a great place to find high-intent customers that they aren’t able to reach elsewhere,” Huffman said. “Advertising on Reddit is rapidly evolving, and we are still in the early phases of growing this business.”AI LicensingReddit said it’s in the early stages of allowing third parties to license access to data on the platform, including to train artificial intelligence models. The company said that in January it entered into data licensing arrangements with an aggregate contract value of $203 million and terms ranging from two to three years. It expects a minimum of $66.4 million of revenue from those agreements this year, according to the filings.Reddit also has announced a deal with Alphabet Inc.’s Google, allowing Google’s AI products to use Reddit data to improve their technology. Large language models often need vast troves of human-generated content to improve.Huffman owns shares that will give him 3.3% of the voting power after the offering. That includes Class B shares that will have 10 votes each compared with one each for the Class A shares to be sold in the IPO, the filings show. Huffman also has a voting proxy agreement with Advance.Other large shareholders include Chief Operating Officer Jennifer Wong, as well as FMR LLC and entities affiliated with OpenAI Chief Executive Officer Sam Altman, Tencent Holdings Ltd., Vy Capital and Quiet Capital and Tacit Capital, according to the filings.In all Huffman and those investors will hold about three-quarters of the shareholder voting rights after the IPO.Huffman’s fellow co-founder, venture capitalist Alexis Ohanian, isn’t listed among the investors with stakes of 5% or more and isn’t named elsewhere in the filings.--With assistance from Katie Roof.(Updates with expected IPO timing in sixth paragraph.)Most Read from Bloomberg BusinessweekAcademics Question ESG Studies That Helped Fuel Investing BoomLuxury Postnatal Retreats Draw Affluent Parents Around the USHow Apple Sank About $1 Billion a Year Into a Car It Never BuiltThe Battle to Unseat the Aeron, the World’s Most Coveted Office ChairHow Microsoft’s Bing Helps Maintain Beijing’s Great Firewall©2024 Bloomberg L.P.

Bloomberg

Reddit Launches Long-Awaited IPO With $748 Million Target

https://finance.yahoo.com/news/reddit-launches-long-awaited-ipo-102310736.html

7bffff6a-8d0e-33ed-bdc8-fa8259f34949

BALL

It doesn't matter your age or experience: taking full advantage of the stock market and investing with confidence are common goals for all investors.While you may have an investing style you rely on, finding great stocks is made easier with the Zacks Style Scores. These are complementary indicators that rate stocks based on value, growth, and/or momentum characteristics.Is This 1 Momentum Stock a Screaming Buy Right Now?Momentum investors, who live by the saying "the trend is your friend," are most interested in taking advantage of upward or downward trends in a stock's price or earnings outlook. Utilizing one-week price change and the monthly percentage change in earnings estimates, among other factors, the Momentum Style Score can help determine favorable times to buy high-momentum stocks.Ball (BALL)Headquartered at Broomfield, CO, Ball Corporation is one of the world’s leading suppliers of metal packaging to the beverage, personal care and household products industries. The company also provides aerospace and other technologies and services to governmental and commercial customers.BALL sits at a Zacks Rank #3 (Hold), holds a Momentum Style Score of B, and has a VGM Score of A. The stock is down 1% and up 8.4% over the past one-week and four-week period, respectively, and Ball has gained 7.2% in the last one-year period as well. Additionally, an average of 2,140,969.75 shares were traded over the last 20 trading sessions.Momentum investors also pay close attention to a company's earnings. For BALL, one analyst revised their earnings estimate upwards in the last 60 days, and the Zacks Consensus Estimate has increased $0 to $3.16 per share for 2024. BALL boasts an average earnings surprise of 11.7%.BALL should be on investors' short list because of its impressive earnings fundamentals, a good Zacks Rank, and strong Momentum and VGM Style Scores.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 reportStory continuesBall Corporation (BALL) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

Why Ball (BALL) is a Top Momentum Stock for the Long-Term

https://finance.yahoo.com/news/why-ball-ball-top-momentum-145011956.html

f5b77632-8650-3d41-a042-94728b2be302

BALL

Ball Corporation (NYSE:BALL) stock is about to trade ex-dividend in four days. Typically, the ex-dividend date is one business day before the record date which is the date on which a company determines the shareholders eligible to receive a dividend. It is important to be aware of the ex-dividend date because any trade on the stock needs to have been settled on or before the record date. Thus, you can purchase Ball's shares before the 29th of February in order to receive the dividend, which the company will pay on the 15th of March.The company's next dividend payment will be US$0.20 per share. Last year, in total, the company distributed US$0.80 to shareholders. Calculating the last year's worth of payments shows that Ball has a trailing yield of 1.3% on the current share price of US$62.89. Dividends are a major contributor to investment returns for long term holders, but only if the dividend continues to be paid. We need to see whether the dividend is covered by earnings and if it's growing. Check out our latest analysis for Ball If a company pays out more in dividends than it earned, then the dividend might become unsustainable - hardly an ideal situation. Ball paid out a comfortable 36% of its profit last year. A useful secondary check can be to evaluate whether Ball generated enough free cash flow to afford its dividend. Thankfully its dividend payments took up just 31% of the free cash flow it generated, which is a comfortable payout ratio.It's encouraging to see that the dividend is covered by both profit and cash flow. This generally suggests the dividend is sustainable, as long as earnings don't drop precipitously.Click here to see the company's payout ratio, plus analyst estimates of its future dividends.historic-dividendHave Earnings And Dividends Been Growing?Stocks in companies that generate sustainable earnings growth often make the best dividend prospects, as it is easier to lift the dividend when earnings are rising. Investors love dividends, so if earnings fall and the dividend is reduced, expect a stock to be sold off heavily at the same time. Fortunately for readers, Ball's earnings per share have been growing at 11% a year for the past five years. Earnings per share are growing rapidly and the company is keeping more than half of its earnings within the business; an attractive combination which could suggest the company is focused on reinvesting to grow earnings further. This will make it easier to fund future growth efforts and we think this is an attractive combination - plus the dividend can always be increased later.Story continuesThe main way most investors will assess a company's dividend prospects is by checking the historical rate of dividend growth. Ball has delivered an average of 12% per year annual increase in its dividend, based on the past 10 years of dividend payments. It's exciting to see that both earnings and dividends per share have grown rapidly over the past few years.The Bottom LineHas Ball got what it takes to maintain its dividend payments? Ball has been growing earnings at a rapid rate, and has a conservatively low payout ratio, implying that it is reinvesting heavily in its business; a sterling combination. Overall we think this is an attractive combination and worthy of further research.With that in mind, a critical part of thorough stock research is being aware of any risks that stock currently faces. In terms of investment risks, we've identified 1 warning sign with Ball and understanding them should be part of your investment process.A common investing mistake is buying the first interesting stock you see. Here you can find a full list of high-yield dividend stocks.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.

Simply Wall St.

There's A Lot To Like About Ball's (NYSE:BALL) Upcoming US$0.20 Dividend

https://finance.yahoo.com/news/theres-lot-balls-nyse-ball-131055557.html

cf16aeaa-7c50-3a18-b5e3-dc0f91a5f868

BALL

It doesn't matter your age or experience: taking full advantage of the stock market and investing with confidence are common goals for all investors.Many investors also have a go-to methodology that helps guide their buy and sell decisions. One way to find winning stocks based on your preferred way of investing is to use the Zacks Style Scores, which are indicators that rate stocks based on three widely-followed investing types: value, growth, and momentum.Why This 1 Growth Stock Should Be On Your WatchlistGrowth investors build their portfolios around companies that are financially strong and have a bright future, and the Growth Style Score helps take projected and historical earnings, sales, and cash flow into account to uncover stocks that will see long-term, sustainable growth.Ball (BALL)Headquartered at Broomfield, CO, Ball Corporation is one of the world’s leading suppliers of metal packaging to the beverage, personal care and household products industries. The company also provides aerospace and other technologies and services to governmental and commercial customers.BALL boasts a Growth Style Score of A and VGM Score of A, and holds a Zacks Rank #3 (Hold) rating. Its bottom-line is projected to rise 9% year-over-year for 2024, while Wall Street anticipates its top line to improve by 4.6%.One analyst revised their earnings estimate higher in the last 60 days for fiscal 2024, while the Zacks Consensus Estimate has increased $0 to $3.16 per share. BALL also boasts an average earnings surprise of 11.7%.Ball is also cash rich. The company has generated cash flow growth of 1.7%, and is expected to report cash flow expansion of 2.8% in 2024.Investors should take the time to consider BALL for their portfolios due to its solid Zacks Rank rating, notable growth metrics, and impressive Growth and VGM Style Scores.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 reportStory continuesBall Corporation (BALL) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

Are You a Growth Investor? This 1 Stock Could Be the Perfect Pick

https://finance.yahoo.com/news/growth-investor-1-stock-could-144508711.html

d73de3d0-09f7-3f51-a296-eddff4135d1b

BALL

It doesn't matter your age or experience: taking full advantage of the stock market and investing with confidence are common goals for all investors.Many investors also have a go-to methodology that helps guide their buy and sell decisions. One way to find winning stocks based on your preferred way of investing is to use the Zacks Style Scores, which are indicators that rate stocks based on three widely-followed investing types: value, growth, and momentum.Is This 1 Momentum Stock a Screaming Buy Right Now?For momentum investors, upward or downward trends in a stock's price or earnings outlook take precedent, so they'll want to zero in on the Momentum Style Score. This Score can pinpoint good times to build a position in a stock, using factors like one-week price change and the monthly percentage change in earnings estimates.Ball (BALL)Headquartered at Broomfield, CO, Ball Corporation is one of the world’s leading suppliers of metal packaging to the beverage, personal care and household products industries. The company also provides aerospace and other technologies and services to governmental and commercial customers.BALL is a Zacks Rank #3 (Hold) stock, with a Momentum Style Score of B and VGM Score of A. Shares are up 1.5% over the past one week and up 10.3% over the past four weeks. BALL has gained 24.2% in the last one-year period as well. Looking at trading volume, an average of 1,811,876.75 shares exchanged hands over the last 20 trading days.Momentum investors don't just pay attention to price changes; positive earnings play a crucial role, too. Two analysts revised their earnings estimate upwards in the last 60 days for fiscal 2024. The Zacks Consensus Estimate has increased $0.04 to $3.16 per share. BALL boasts an average earnings surprise of 11.7%.With strong earnings growth, a good Zacks Rank, and top-tier Momentum and VGM Style Scores, investors should think about adding BALL to their portfolios.Story continuesWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free reportBall Corporation (BALL) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

Here's Why Ball (BALL) is a Strong Momentum Stock

https://finance.yahoo.com/news/heres-why-ball-ball-strong-135011146.html

2bce948b-282a-33d7-836f-6f31c64a8fd9

BAX

In this article, we will be taking a look at the 20 fastest growing biotech companies in the US. If you are not interested in learning about the landscape of biotech companies, head straight to the 5 Fastest Growing Biotech Companies In The US.The biotechnology sector in the United States is witnessing a surge in innovation and growth, with numerous companies making significant strides in various fields. From groundbreaking medical advancements to cutting-edge agricultural solutions, the fastest-growing biotech companies in the US like Johnson & Johnson and Eli Lilly and Company are at the forefront of scientific progress. These companies are revolutionizing healthcare, agriculture, environmental sustainability, and beyond, driving the boundaries of what is possible in biotechnology. Driving Medical Progress: Biotechnology and Pharmaceutical Industries The global biotechnology market has witnessed remarkable growth, reaching a value of USD 1.55 trillion in 2023, with projections indicating a compound annual growth rate (CAGR) of 13.96% from 2024 to 2030. Advancements in technology, applications, and regional developments fuel this expansion. Significant players like Johnson & Johnson Services, Inc., F. Hoffmann-La Roche Ltd, Pfizer, Merck & Co., Abbott, Amgen, and Sanofi drive innovation. Key growth drivers include supportive government initiatives, decreasing sequencing costs, and rising demand for synthetic biology solutions.  The biotechnology industry has shown steady growth in the US, averaging a 1.5% increase annually from 2018 to 2023. North America, particularly the US, is a pivotal region in biotech, contributing significantly to the market's overall growth. Health applications dominate the market, with segments such as food & agriculture, natural resources & environment, industrial processing, and bioinformatics also playing significant roles. Forecasts predict the market to reach around US$3.44 trillion by 2030, with the US and North America remaining integral to this expansion, driven by government policies, product launches, robust investments, and rising demand for biotech drugs. Looking ahead, the Asia-Pacific region, fueled by a substantial patient base in countries like India and China, is poised to become a dominant force in shaping the future trajectory of the biotechnology market.  Story continuesThe pharmaceutical industry remains at the forefront of driving medical progress by developing innovative therapeutics and biologics. Notably, companies like Eli Lilly and Company have showcased robust financial performance, underscoring their dedication to pioneering advancements in pharmaceuticals and biologics. Such companies exemplify a commitment to pushing the boundaries of medical science to improve patient outcomes and address unmet medical needs. According to research findings, the average pre-tax cost of developing a new drug or biologic stands at approximately $1.39 billion, with total capitalized costs increasing at an annual rate of 8.5% above general price inflation. This substantial investment reflects the extensive resources required to bring new treatments to market and highlights the financial challenges inherent in pharmaceutical research and development.  The European Federation of Pharmaceutical Industries and Associations (EFPIA) further emphasizes the significant financial burden, citing an estimated cost of $2.5 billion in 2013 dollars for researching and developing a new chemical or biological entity. Economic reports from key industry players like Teva Pharmaceutical Industries also shed light on the sector's multifaceted involvement in research and operations for generic and innovative medicines.  These financial disclosures underscore pharmaceutical companies' diverse strategies to address global health challenges and meet the demands of an evolving healthcare landscape. Despite the formidable costs and complexities involved, the innovative pharmaceutical industry remains a critical driver of medical progress and a cornerstone of the global economy.  Transformative Impact of Genetic Engineering in Healthcare Genetic engineering breakthroughs, particularly in gene-editing technologies, are revolutionizing healthcare by offering new therapeutic categories like cell therapy and gene editing, which can provide near-cures for various illnesses. The genomic medicines industry is expected to be worth $50 billion by 2028, up from just $5 billion in 2022. Genomic sequencing technology has already revolutionized the healthcare industry, providing a comprehensive toolkit of genomic diagnostics and treatments, with the price per genome expected to decrease to $100 by 2025. The estimated annual spending on gene therapies in the United States is projected to be approximately $20.4 billion under conservative assumptions. Gene therapy can potentially treat and even cure previously intractable diseases, but existing gene therapy prices are high, raising concerns about their affordability. Gene therapy's estimated annual financial impact on the U.S. market is expected to be significant, with annual spending on approved gene therapies estimated to reach $25.3 billion in 2026. The healthcare industry is now the most excellent data-generating industry in the world, and the industry's ability to sequence DNA has outpaced its ability to decipher the information it contains. The genomic revolution is driving innovation in every subsegment of the healthcare sector. It can transform the industry by offering novel blood-based diagnostic tests for cancer and Alzheimer's, revolutionary preventative medicines, and enhanced wearable technology to help diagnose and monitor illnesses. The estimated annual financial impact of gene therapy in the United States is expected to be approximately $20.4 billion under conservative assumptions. The cumulative discounted spending on treating patients with approved gene therapy products will reach $241 billion by December 2034. Using simulation methods allows for capturing inherent risks and uncertainty in costs, revenues, and other parameters of this new therapeutic class. Gene therapies offer breakthrough results but come with extraordinary expenses. 20 Fastest Growing Biotech Companies In The USA biopharmaceutical research laboratory filled with scientists, illuminated by the glow of their equipment.Our Methodology For our methodology, we have arranged the fastest-growing biotech companies in the US based on their year on year revenue growth rates for latest fiscal years. We've obtained the data of YoY growth rates from Seeking Alpha.Here is our list of the 20 fastest-growing biotech companies in the US.  20. Merck & Co., Inc. (NYSE:MRK)Year on Year growth: 1.40% Merck & Co., Inc. (NYSE:MRK) has strengthened its immunology pipeline through acquisitions like Prometheus Biosciences ($10.8 billion) and Harpoon Therapeutics ($680 million), which enhances its ability to treat immune-mediated diseases like ulcerative colitis and cancers. Merck & Co., Inc. (NYSE:MRK) focus on precision medicine and innovation, exemplified by Keytruda, reflects its commitment to addressing medical needs. 19. Baxter International Inc. (NYSE:BAX)Year on Year growth: 2.12% Baxter International Inc. (NYSE:BAX), a prominent medtech company, is undergoing strategic changes to boost operational efficiency and innovation. It's selling its BioPharma Solutions business for $4.25 billion, focusing on core operations. Baxter is known for sterile contract manufacturing and has invested $100 million in its German facility. The divestiture may impact earnings by $0.10 per share in Q4 2023. Baxter International Inc. (NYSE:BAX) is exploring options for BPS and refining its operating model for enhanced patient care and innovation. 18. Sanofi (NASDAQ:SNY) Year on Year growth: 2.32% Sanofi (NASDAQ:SNY), one of the fastest growing biotech companies in the US, is expanding its biotechnology presence through acquisitions like Translate Bio. With a focus on immunology, vaccines, and oncology, it's also addressing neglected tropical diseases. In 2023, it reported $50.26 billion in revenue and employs around 91,573 people. Sanofi (NASDAQ:SNY) emphasizes diversity, equity, and inclusion alongside social impact initiatives. While not the fastest-growing biotech company, its commitment to innovation solidifies its position in the pharmaceutical and biotech sectors. 17. AstraZeneca PLC (NASDAQ:AZN)Year on Year growth: 3.29% AstraZeneca PLC (NASDAQ:AZN), one of the biggest biotech companies in the US, focuses on oncology, rare diseases, and biopharmaceuticals, including cardiovascular and respiratory areas. It's known for driving cancer research innovation and aims to provide cures for all cancer types. Recent highlights include acquiring Gracell Biotechnologies Inc. for cell therapy advancements and launching Evinova, a health-tech business. Financially, positive trial results and Priority Review grants in the US signify growth. AstraZeneca PLC (NASDAQ:AZN)'s dedication to R&D, strategic acquisitions, and health-tech initiatives solidifies its biopharmaceutical industry position. 16. Gilead Sciences, Inc. (NASDAQ:GILD)Year on Year growth: 3.42% Gilead Sciences, Inc. (NASDAQ:GILD) is a renowned biopharmaceutical company recognized for its commitment to responsible corporate behavior. It was named one of America's Most Just Companies for creating a healthier world. Gilead expanded its liver portfolio by acquiring CymaBay Therapeutics and adding seladelpar for primary biliary cholangitis treatment. Known for antiviral drugs, it focuses on HIV/AIDS, hepatitis B and C, influenza, and COVID-19. Financially, it reported a 2.7% increase in Q1 2024 dividend. Gilead Sciences, Inc. (NASDAQ:GILD)'s upcoming trends include advancing HIV and cancer treatments, reflecting its dedication to tackling global health challenges. 15. Takeda Pharmaceutical Company Limited (NYSE:TAK)Year on Year growth: 5.69% Takeda Pharmaceutical Company Limited (NYSE:TAK) is a global biopharmaceutical company focusing on oncology, rare diseases, and neuroscience. Recent achievements include FDA approval for Gammagard Liquid for Chronic Inflammatory Demyelinating Polyneuropathy. Takeda Pharmaceutical Company Limited (NYSE:TAK) emphasizes innovative treatments and extensive R&D efforts. In February 2024, it announced Phase 3 trials for TAK-861 in Narcolepsy Type 1. The company's upcoming trends center on advancements in oncology, rare diseases, and neuroscience treatments. Financially, Takeda reported $29.79 billion in revenue for fiscal year 2023, solidifying its position in the pharmaceutical industry. 14. Johnson & Johnson (NYSE:JNJ)Year on Year growth: 6.46% Johnson & Johnson (NYSE:JNJ), one of the fastest growing biotech companies in the US is known for its contributions to healthcare, including advancements in genomics and innovative treatments for conditions like atrial fibrillation and HDFN. It remains dedicated to tackling cancer and Alzheimer's. Recently, Johnson & Johnson (NYSE:JNJ) was named the world's most admired company for the 22nd consecutive year and reported strong financial performance in 2023. It acquired Ambrx Biopharma, Inc., emphasizing its commitment to expanding its portfolio. J&J continues to focus on health innovation and invests in nanotechnology, exemplified by its recent investment in Nanobiotix. 13. Pfizer Inc. (NYSE:PFE) Year on Year growth: 7.00% Pfizer Inc. (NYSE:PFE), a leading biopharmaceutical company, is dedicated to healthcare innovation, addressing health disparities, environmental sustainability, and breakthrough medicines. Its upcoming trends include a commitment to impacting a billion lives annually by 2027 and prioritizing oncology research. Financially, Pfizer Inc. (NYSE:PFE) anticipates full-year 2024 revenue of $58.5 to $61.5 billion, with $8 billion from Covid products and contributions from the Seagen acquisition. Operational revenue growth for 2024 is expected to be 8%-10%, excluding Comirnaty and Paxlovid revenues. 12. Amgen Inc. (NASDAQ:AMGN) Year on Year growth: 7.09% Amgen Inc. (NASDAQ:AMGN), a biotech pioneer founded in 1980, focuses on innovative therapeutics for serious diseases. Its contributions include impactful medicines for cardiovascular disease, osteoporosis, and more. Subsidiary deCODE Genetics aids in disease target identification. Amgen's recent FDA priority review is tarlatamab to treat advanced small-cell lung cancer. Collaborations with PostEra and Q32 Bio aim to enhance drug discovery. Amgen Inc. (NASDAQ:AMGN)'s future trends involve advancing disease understanding and sustainability goals for carbon neutrality by 2027. Financially, it conducts 1,800+ clinical trials globally and sells products primarily through pharmaceutical distributors. 11. Novartis AG (NYSE:NVS)Year on Year growth: 7.36% Novartis AG (NYSE:NVS), a leading biotech company in the US, makes significant healthcare contributions globally. Initiatives like the Water Neutrality Project in India and the Partnership Against Epilepsy in Cameroon demonstrate its commitment. Novartis also supports breast cancer survivors and recently acquired MorphoSys for $3 billion to enhance its oncology pipeline and expand its neuroscience portfolio with DTx Pharma. Financially, Novartis AG (NYSE:NVS) reported strong 2023 results with 10% growth in net sales and an 18% increase in core operating income. 10. Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN)Year on Year growth: 7.76% Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN) a fastest growing biotech company in the US, is renowned for its life-transforming medicines. Its 'homegrown' pipeline covers numerous serious diseases, focusing on leveraging biology and technology. Recent highlights include an FDA priority review for Linvoseltamab in Relapsed/Refractory Multiple Myeloma and Japan's approval of Dupixen for Chronic Spontaneous Urticaria. Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN)'s formation of Regeneron Cell Medicines via acquisition demonstrates its commitment to innovation.  9. Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)Year on Year growth: 10.51% Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX), one of the biggest biotech companies in the US since 1989, is renowned for pioneering therapies for cystic fibrosis (CF) and genetic disorders. Vertex is exploring gene-editing technologies beyond CF and expanding collaborations to accelerate therapy development. With a focus on rare diseases and personalized medicine, the company aims to address diverse patient needs. Looking ahead, Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) will continue advancing gene therapy and editing, leveraging strategic partnerships and research in oncology to impact global healthcare further. 8. BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)Year on Year growth: 15.00% BioMarin Pharmaceutical Inc. (NASDAQ:BMRN), founded in 1997, is a leading biopharmaceutical company based in San Rafael, California. BioMarin specializes in rare genetic diseases and has developed groundbreaking treatments for conditions like mucopolysaccharidosis type I (MPS I) and phenylketonuria (PKU). Recent developments include an agreement on reimbursement for its gene therapy program, ROCTAVIAN, and a significant investment from Elliott Investment Management. With revenue of approximately US$2.4 billion in 2023, BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) focuses on enhancing corporate governance and long-term shareholder value creation while pursuing a diverse pipeline of early-stage product candidates, such as VOXZOGO and ROCTAVIAN, to continue leading in genetic innovation. 7. Amicus Therapeutics, Inc. (NASDAQ:FOLD)Year on Year growth: 15.18% Amicus Therapeutics, Inc. (NASDAQ:FOLD), a leading biotech company in the US, specializes in advanced therapies for rare diseases. With a robust patient-centered approach, they prioritize access to medicines and maintain compassionate care. Currently, Amicus Therapeutics, Inc. (NASDAQ:FOLD) is advancing various pipeline projects for rare diseases and emphasizes patient engagement in decision-making processes. The company will continue focusing on rare diseases, mainly through pharmacological chaperones and enzyme replacement therapy while investing in innovative research and technology for genetic disorders. 6. Eli Lilly and Company (NYSE:LLY)Year on Year growth: 19.56% Eli Lilly and Company (NYSE:LLY), standing sixth among the fastest growing biotech companies in the US, demonstrated significant growth in Q3 2023 with a 37% revenue increase driven by strong sales of products like Mounjaro, Verzenio, and Jardiance. The company also received FDA approval for new treatments and expanded its business by acquiring POINT Biopharma Global Inc. In Q4 2023, revenue surged by 28% compared to the previous year, accompanied by a sixth consecutive annual increase of 15% in dividends. Leadership changes included the retirement of Johna Norton. Looking ahead to 2024, Eli Lilly and Company (NYSE:LLY) emphasized innovation to address global healthcare challenges, with Q4 2023 revenue reaching $9.35 billion and reported net income of $2.19 billion. Click to see and continue reading the 5 Fastest Growing Biotech Companies In The US.Suggested Articles:11 Most Promising Biotech Stocks to Buy According to Analysts.Top 20 Most Profitable Pharmaceutical Companies In The World. 15 Biggest European Pharmaceutical Companies.Disclosure. None: 20 Fastest Growing Biotech Companies in the US is originally published on Insider Monkey.

Insider Monkey

20 Fastest Growing Biotech Companies in the US

https://finance.yahoo.com/news/20-fastest-growing-biotech-companies-104317671.html

1ac8a55d-c35e-3762-8392-96dcb8e66071

BAX

Baxter International Inc. (NYSE:BAX) is about to trade ex-dividend in the next four days. The ex-dividend date is one business day before a company's record date, which is the date on which the company determines which shareholders are entitled to receive a dividend. It is important to be aware of the ex-dividend date because any trade on the stock needs to have been settled on or before the record date. Thus, you can purchase Baxter International's shares before the 29th of February in order to receive the dividend, which the company will pay on the 1st of April.The company's next dividend payment will be US$0.29 per share, and in the last 12 months, the company paid a total of US$1.16 per share. Based on the last year's worth of payments, Baxter International has a trailing yield of 2.7% on the current stock price of US$42.55. We love seeing companies pay a dividend, but it's also important to be sure that laying the golden eggs isn't going to kill our golden goose! So we need to investigate whether Baxter International can afford its dividend, and if the dividend could grow. Check out our latest analysis for Baxter International 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. Baxter International lost money last year, so the fact that it's paying a dividend is certainly disconcerting. There might be a good reason for this, but we'd want to look into it further before getting comfortable. With the recent loss, it's important to check if the business generated enough cash to pay its dividend. If cash earnings don't cover the dividend, the company would have to pay dividends out of cash in the bank, or by borrowing money, neither of which is long-term sustainable. It paid out more than half (57%) of its free cash flow in the past year, which is within an average range for most companies.Story continuesClick here to see the company's payout ratio, plus analyst estimates of its future dividends.historic-dividendHave Earnings And Dividends Been Growing?Companies with falling earnings are riskier for dividend shareholders. If business enters a downturn and the dividend is cut, the company could see its value fall precipitously. Baxter International was unprofitable last year and, unfortunately, the general trend suggests its earnings have been in decline over the last five years, making us wonder if the dividend is sustainable at all.Many investors will assess a company's dividend performance by evaluating how much the dividend payments have changed over time. Baxter International's dividend payments per share have declined at 5.1% per year on average over the past 10 years, which is uninspiring. While it's not great that earnings and dividends per share have fallen in recent years, we're encouraged by the fact that management has trimmed the dividend rather than risk over-committing the company in a risky attempt to maintain yields to shareholders.Get our latest analysis on Baxter International's balance sheet health here.The Bottom LineFrom a dividend perspective, should investors buy or avoid Baxter International? We're a bit uncomfortable with it paying a dividend while being loss-making. However, we note that the dividend was covered by cash flow. It's not that we think Baxter International is a bad company, but these characteristics don't generally lead to outstanding dividend performance.So if you're still interested in Baxter International despite it's poor dividend qualities, you should be well informed on some of the risks facing this stock. For example, Baxter International has 2 warning signs (and 1 which is concerning) we think you should know about.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.

Simply Wall St.

It Might Not Be A Great Idea To Buy Baxter International Inc. (NYSE:BAX) For Its Next Dividend

https://finance.yahoo.com/news/might-not-great-idea-buy-122732507.html

d0fe1942-bfa7-30eb-8b00-f4ae9fe310fe

BAX

Jeanne Mason, Executive Vice President and Chief Human Resources Officer, has sold 64,488 shares of Baxter International Inc (NYSE:BAX) on March 1, 2024, according to a recent SEC Filing. Over the past year, the insider has sold a total of 64,488 shares and has not made any purchases of the company's stock.Warning! GuruFocus has detected 11 Warning Signs with BAX.Baxter International Inc is a global medical products and services company with expertise in medical devices, pharmaceuticals, and biotechnology. The company develops, manufactures, and markets products that save and sustain the lives of people with hemophilia, immune disorders, infectious diseases, kidney disease, trauma, and other chronic and acute medical conditions.The insider transaction history for Baxter International Inc shows a trend of limited insider buying activity over the past year. There have been 0 insider buys and 2 insider sells during this period.On the date of the insider's recent sell, shares of Baxter International Inc were trading at $40.61, giving the company a market capitalization of $21.54 billion. The price-earnings ratio of the company stands at 8.12, which is lower than the industry median of 27.57 and also below the company's historical median price-earnings ratio.The stock's current price of $40.61 compared to the GuruFocus Value of $68.12 indicates that Baxter International Inc has a price-to-GF-Value ratio of 0.6, suggesting that the stock is Significantly Undervalued according to the GF Value metric.The GF Value is calculated considering historical trading multiples, a GuruFocus adjustment factor based on past returns and growth, and future business performance estimates provided by Morningstar analysts.Insider Sell: EVP, Chief HR Officer Jeanne Mason Sells 64,488 Shares of Baxter International Inc (BAX)Insider Sell: EVP, Chief HR Officer Jeanne Mason Sells 64,488 Shares of Baxter International Inc (BAX)This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.This article first appeared on GuruFocus.

GuruFocus.com

Insider Sell: EVP, Chief HR Officer Jeanne Mason Sells 64,488 Shares of Baxter International ...

https://finance.yahoo.com/news/insider-sell-evp-chief-hr-220044949.html

cf6ea08e-2334-3a65-84f8-753293d01b59

BAX

Dive Brief:Baxter International will close its manufacturing operations in Acton, Massachusetts, laying off 59 people in the process.The layoffs will occur between May 3 and June 30, according to a Worker Adjustment and Retraining Notification notice Baxter filed with the state government on Feb. 29. News of the layoffs comes roughly 13 months after Baxter outlined plans to eliminate about 3,000 positions in response to significant macroeconomic challenges and a shift to a new operating model.Dive Insight:The Acton site was one of 14 principal manufacturing facilities run by Baxter’s healthcare systems and technologies segment as of the end of last year, according to a U.S. Securities and Exchange Commission filing. “After a careful review, we made the difficult decision to close manufacturing operations at our Acton location,” a Baxter spokesperson wrote in an emailed statement. “We are moving these operations to another facility within Baxter's integrated supply chain network. We appreciate our Acton-based colleagues’ dedication and service and are providing transition benefits to impacted employees.”The company acquired the leased site through the $10.5 billion acquisition of Hillrom that it struck in 2021. The plant was one of 22 principal manufacturing facilities included in the takeover.The decision to close the Acton plant comes three months after Baxter shuttered a facility in Opelika, Alabama. The Opelika site was one of three Baxter facilities that produced dialyzers. Baxter identified the closure of the facility as a way to streamline its manufacturing footprint and improve profitability. According to Baxter, the “competitive environment” increased global supply of products made at the Opelika site.Baxter’s closure of the Opelika facility could be the precursor to a broader retreat from kidney care. This week, the company said it has held talks with private equity investors about a potential sale of its kidney care segment. Baxter plans to either sell or spin off the unit in the second half of 2024.This story was originally published on MedTech Dive. To receive daily news and insights, subscribe to our free daily MedTech Dive newsletter.

MedTech Dive

Baxter to close Massachusetts site, lay off 59 people

https://finance.yahoo.com/news/baxter-close-massachusetts-lay-off-045010855.html

49fa5722-d8bc-35f3-ad36-6c38bc7a3bb5

BBWI

Bath & Body Works, Inc.COLUMBUS, Ohio, Feb. 09, 2024 (GLOBE NEWSWIRE) -- Bath & Body Works, Inc. (NYSE: BBWI) announced today the declaration of its regular quarterly dividend of $0.20 per share payable on Mar. 8, 2024, to shareholders of record at the close of business on Feb. 23, 2024.ABOUT BATH & BODY WORKS:Home of America’s Favorite Fragrances®, Bath & Body Works is a global leader in personal care and home fragrance, including top-selling collections for fine fragrance mist, body lotion and body cream, 3-wick candles, home fragrance diffusers and liquid hand soap. Powered by agility and innovation, the company’s predominantly U.S.-based supply chain enables the company to deliver quality, on-trend luxuries at affordable prices. Bath & Body Works serves and delights customers however and wherever they want to shop, from welcoming, in-store experiences at more than 1,840 company-operated Bath & Body Works locations in the U.S. and Canada and more than 450 international franchised locations to an online storefront at bathandbodyworks.com.For further information, please contact:Bath & Body Works, Inc.:Investor Relations InvestorRelations@bbw.comMedia RelationsJamison PackCommunications@bbw.com

GlobeNewswire

Bath & Body Works Declares Cash Dividend

https://finance.yahoo.com/news/bath-body-works-declares-cash-133000625.html

1e91f9e8-5ab9-373a-8848-9fda3a21037d

BBWI

Bath & Body Works, Inc.COLUMBUS, Ohio, Feb. 15, 2024 (GLOBE NEWSWIRE) -- Bath & Body Works, Inc. (NYSE: BBWI) announced today that it will report its fourth quarter and fiscal 2023 financial results before market open on Thursday, February 29, 2024. In conjunction with this release, the company will host a conference call that morning at 9:00 a.m. EST, during which Gina Boswell, chief executive officer, Eva Boratto, chief financial officer, and Julie Rosen, president, retail, will provide a business update and discuss the company's results and 2024 outlook. Supplemental materials will be posted approximately 45 minutes prior to the start of the conference call on the events and presentations page in the investors section of the company’s website at bbwinc.com.Investors and analysts interested in participating are invited to dial 877-407-9219 (domestic) or 201-689-8852 (international). A telephone replay of the conference call can be accessed by dialing 877-660-6853 (domestic) or 201-612-7415 (international) and entering access code 13744103.To listen to the audio webcast, please visit the events and presentations page in the investors section of the company’s website at bbwinc.com. The webcast replay will be available approximately three hours following the live call and archived for 90 days.ABOUT BATH & BODY WORKS:Home of America’s Favorite Fragrances®, Bath & Body Works is a global leader in personal care and home fragrance, including top-selling collections for fine fragrance mist, body lotion and body cream, 3-wick candles, home fragrance diffusers and liquid hand soap. Powered by agility and innovation, the company’s predominantly U.S.-based supply chain enables the company to deliver quality, on-trend luxuries at affordable prices. Bath & Body Works serves and delights customers however and wherever they want to shop, from welcoming, in-store experiences at more than 1,840 company-operated Bath & Body Works locations in the U.S. and Canada and more than 450 international franchised locations to an online storefront at bathandbodyworks.com.Story continuesFor further information, please contact:Bath & Body Works:Investor Relationsinvestorrelations@bbw.comJamison PackMedia Relationscommunications@bbw.com

GlobeNewswire

Bath & Body Works to Report Fourth Quarter and Fiscal 2023 Financial Results on February 29, 2024

https://finance.yahoo.com/news/bath-body-works-report-fourth-133000208.html

b730fcca-ea48-3e45-9632-e33a6c6c7441

BBWI

Bath & Body Works, Inc.Fourth Quarter and Full-Year Net Sales and Earnings Per Share Exceed GuidanceBoard of Directors Authorizes New Share Repurchase ProgramCOLUMBUS, Ohio, Feb. 29, 2024 (GLOBE NEWSWIRE) -- Bath & Body Works, Inc. (NYSE: BBWI) today reported fourth quarter and full-year 2023 results.Gina Boswell, CEO of Bath & Body Works, commented, “The team delivered fourth quarter net sales and earnings that exceeded the high end of our expectations. Underpinning these results was strong execution during the holiday season. Customers responded to innovation and newness as we delivered a seamless omnichannel shopping experience and drove continued enrollment in our loyalty program. Additionally, we continued to advance our operational efficiency initiatives. Looking ahead, we remain focused on further improving the customer experience and building on our strong foundation to drive long-term profitable growth.”Bath & Body Works, Inc. today also announced that the Board of Directors approved a new share repurchase program authorizing the Company to repurchase up to $500 million of the Company’s outstanding shares of common stock.Fourth Quarter 2023 ResultsThe company reported net sales of $2.912 billion for the 14-week fourth quarter ended Feb. 3, 2024, an increase of 0.8% compared to net sales of $2.889 billion for the 13-week fourth quarter ended January 28, 2023. The extra week in 2023 represented approximately $80 million in net sales.The company reported earnings from continuing operations per diluted share of $2.55 for the fourth quarter of 2023, compared to $1.86 for the same period of the prior year. The extra week in 2023 represented approximately $0.05 of earnings per diluted share. Fourth quarter operating income was $696 million compared to $653 million last year, and net income from continuing operations was $579 million compared to $428 million last year.Reported fourth quarter 2023 results include a $112 million tax benefit related to the partial release of a valuation allowance on a foreign deferred tax asset, an $8 million pre-tax impairment charge ($6 million net of tax of $2 million) related to an equity method investment and a $6 million pre-tax gain ($5 million net of tax of $1 million) associated with the early extinguishment of debt, resulting from the open market repurchase and retirement of $111 million principal amount of the company’s senior notes during the fourth quarter.Story continuesExcluding these significant items, adjusted fourth quarter 2023 earnings from continuing operations per diluted share was $2.06 and adjusted net income from continuing operations was $469 million.At the conclusion of this press release is a reconciliation of reported‐to‐adjusted results, including a description of the significant items.Full-Year 2023 Results Net sales decreased 1.7% to $7.429 billion for the 53-week fiscal year ended Feb. 3, 2024, compared to $7.560 billion for the 52-week fiscal year ended Jan. 28, 2023.The company reported earnings from continuing operations per diluted share of $3.84 for the year, compared to $3.40 in 2022. Full-year operating income was $1.285 billion compared to $1.376 billion last year, and net income from continuing operations was $878 million compared to $794 million last year.Reported full-year 2023 results include a $112 million tax benefit related to the partial release of a valuation allowance on a foreign deferred tax asset, $34 million of pre-tax gains ($26 million net of tax of $8 million) associated with the early extinguishment of debt and an $8 million pre-tax impairment charge ($6 million net of tax of $2 million) related to an equity method investment.Excluding these significant items, adjusted full-year 2023 earnings from continuing operations per diluted share was $3.27, and adjusted net income from continuing operations was $747 million.2024 OutlookFor fiscal 2024, the company is forecasting net sales to range between a decline of 3.0% to flat relative to $7.429 billion of net sales in fiscal 2023. The 53rd week in fiscal 2023 represents a headwind of approximately 100 basis points to net sales growth in fiscal 2024. Full-year 2024 earnings per diluted share is expected to be between $3.00 and $3.35, compared to $3.84 and adjusted earnings per diluted share of $3.27 in fiscal 2023. The company’s full-year outlook includes the anticipated impact of approximately $300 million of cash deployed towards share repurchases.The company expects first quarter 2024 net sales to decline 4.5% to 2.0% compared to $1.396 billion in 2023. First quarter earnings per diluted share is expected to be between $0.28 and $0.33, compared to $0.35 and adjusted earnings per diluted share of $0.33 in the first quarter of 2023.   The company’s first quarter outlook includes the anticipated impact of approximately $75 million of cash deployed towards share repurchases.The company’s first quarter and full-year outlook excludes the impact of any future debt repurchase activity.Earnings Call and Additional InformationBath & Body Works, Inc. will conduct its fourth quarter earnings call at 9:00 a.m. Eastern Standard Time on Feb. 29. To listen, call 877-407-9219 (international dial‐in number: 201-689-8852). For an audio replay, call 877-660-6853 (international replay number: 201-612-7415); access code 13744103 or log onto www.BBWInc.com. A slide presentation has been posted on the company’s Investor Relations website that summarizes the information in the company‘s prepared remarks from the earnings call as well as some additional facts and figures regarding the company’s operating performance and guidance.ABOUT BATH & BODY WORKSHome of America’s Favorite Fragrances®, Bath & Body Works is a global leader in personal care and home fragrance, including top-selling collections for fine fragrance mist, body lotion and body cream, 3-wick candles, home fragrance diffusers and liquid hand soap. Powered by agility and innovation, the company’s predominantly U.S.-based supply chain enables the company to deliver quality, on-trend luxuries at affordable prices. Bath & Body Works serves and delights customers however and wherever they want to shop, from welcoming, in-store experiences at 1,850 company-operated Bath & Body Works locations in the U.S. and Canada and more than 480 international franchised locations to an online storefront at bathandbodyworks.com.Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995We caution that any forward-looking statements (as such term is defined in the Private Securities Litigation Reform Act of 1995) contained in this press release or made by our company or our management involve risks and uncertainties and are subject to change based on various factors, many of which are beyond our control. Accordingly, our future performance and financial results may differ materially from those expressed or implied in any such forward-looking statements. Words such as “estimate,” “project,” “plan,” “believe,” “expect,” “anticipate,” “intend,” “planned,” “potential,” “target,” “goal” and any similar expressions may identify forward-looking statements. Risks associated with the following factors, among others, in some cases have affected and in the future could affect our financial performance and actual results and could cause actual results to differ materially from those expressed or implied in any forward-looking statements included in this press release or otherwise made by our company or our management:general economic conditions, inflation and deflation, consumer confidence, consumer spending patterns and market disruptions including pandemics or significant health hazards, severe weather conditions, natural disasters, terrorist activities, financial crises, political crises or other major events, or the prospect of these events;the seasonality of our business;the anticipated benefits from the Victoria’s Secret & Co. spin-off may not be realized;our ability to attract, develop and retain qualified associates and manage labor-related costs;difficulties arising from turnover in company leadership or other key positions;the dependence on store traffic and the availability of suitable store locations on appropriate terms;our continued growth in part through new store openings and existing store remodels and expansions;our ability to successfully operate and expand internationally and related risks;our independent franchise, license, wholesale and other distribution-related partners;our direct channel business;our ability to protect our reputation and our brand image;our ability to attract customers with marketing, advertising and promotional programs;our ability to maintain, enforce and protect our trade names, trademarks and patents;the highly competitive nature of the retail industry and the segments in which we operate;consumer acceptance of our products and our ability to manage the life cycle of our brand, develop new merchandise and launch new product lines successfully;our ability to source, distribute and sell goods and materials on a global basis, including risks related to:political instability, wars and other armed conflicts, environmental hazards or natural disasters;significant health hazards or pandemics, which could result in closed factories and/or stores, reduced workforces, scarcity of raw materials, and scrutiny or embargoing of goods produced in impacted areas;duties, taxes and other charges;legal and regulatory matters;volatility in currency exchange rates;local business practices and political issues;delays or disruptions in shipping and transportation and related pricing impacts;disruption due to labor disputes; andchanging expectations regarding product safety due to new legislation;our ability to successfully complete environmental, social and governance initiatives, and associated costs thereof;our geographic concentration of third-party manufacturing facilities and our distribution facilities in central Ohio;our reliance on a limited number of suppliers to support a substantial portion of our inventory purchasing needs;the ability of our vendors to deliver products in a timely manner, meet quality standards and comply with applicable laws and regulations;the spin-off of Victoria’s Secret & Co. may not be tax-free for U.S. federal income tax purposes;fluctuations in foreign currency exchange rates;fluctuations in product input costs;fluctuations in energy costs;our ability to adequately protect our assets from loss and theft;increases in the costs of mailing, paper, printing or other order fulfillment logistics;claims arising from our self-insurance;our and our third-party service providers’ ability to implement and maintain information technology systems and to protect associated data;our ability to maintain the security of customer, associate, third-party and company information;stock price volatility;our ability to pay dividends and make share repurchases under share repurchase authorizations;shareholder activism matters;our ability to maintain our credit ratings;our ability to service, repurchase or refinance our debt and maintain compliance with our restrictive covenants;our ability to comply with laws, regulations and technology platform rules or other obligations related to data privacy and security;our ability to comply with regulatory requirements;legal and compliance matters; andtax, trade and other regulatory matters.We are not under any obligation and do not intend to make publicly available any update or other revisions to any of the forward-looking statements contained in this press release to reflect circumstances existing after the date of this press release or to reflect the occurrence of future events even if experience or future events make it clear that any expected results expressed or implied by those forward-looking statements will not be realized. Additional information regarding these and other factors can be found in “Item 1A. Risk Factors” in our 2022 Annual Report on Form 10-K, as filed with the Securities and Exchange Commission, and our subsequent filings.For further information, please contact:Bath & Body Works, Inc.:Investor RelationsInvestorRelations@bbw.comMedia RelationsJamison PackCommunications@bbw.comBATH & BODY WORKS, INC.CONSOLIDATED STATEMENTS OF INCOME(Unaudited)(In millions, except per share amounts)         Fourth Quarter Full-Year  2023   2022   2023   2022  (14 weeks) (13 weeks) (53 weeks) (52 weeks)Net Sales$2,912  $2,889  $7,429  $7,560 Costs of Goods Sold, Buying and Occupancy (1,575)  (1,639)  (4,193)  (4,305)Gross Profit 1,337   1,250   3,236   3,255 General, Administrative and Store Operating Expenses (641)  (597)  (1,951)  (1,879)Operating Income 696   653   1,285   1,376 Interest Expense (86)  (87)  (345)  (348)Other Income 12   10   81   17 Income from Continuing Operations Before Income Taxes 622   576   1,021   1,045 Provision for Income Taxes 43   148   143   251 Net Income from Continuing Operations 579   428   878   794 Income from Discontinued Operations, Net of Tax —   6   —   6 Net Income$579  $434  $878  $800         Net Income per Diluted Share       Continuing Operations$2.55  $1.86  $3.84  $3.40 Discontinued Operations —   0.03   —   0.03 Total Net Income Per Diluted Share$2.55  $1.89  $3.84  $3.43         Weighted Average Diluted Shares Outstanding 227   230   229   233                 BATH & BODY WORKS, INC.CONSOLIDATED CONDENSED BALANCE SHEETS(Unaudited)(In millions)  February 3,2024 January 28,2023ASSETS   Current Assets:   Cash and Cash Equivalents$1,084  $1,232 Accounts Receivable, Net 224   226 Inventories 710   709 Other 97   99 Total Current Assets 2,115   2,266 Property and Equipment, Net 1,220   1,193 Operating Lease Assets 1,056   1,050 Goodwill 628   628 Trade Name 165   165 Deferred Income Taxes 144   37 Other Assets 135   155 Total Assets$5,463  $5,494 LIABILITIES AND EQUITY (DEFICIT)   Current Liabilities:   Accounts Payable$380  $455 Accrued Expenses and Other 608   673 Current Operating Lease Liabilities 181   177 Income Taxes 120   74 Total Current Liabilities 1,289   1,379 Deferred Income Taxes 147   168 Long-term Debt 4,388   4,862 Long-term Operating Lease Liabilities 1,004   1,014 Other Long-term Liabilities 261   276 Total Equity (Deficit) (1,626)  (2,205)Total Liabilities and Equity (Deficit)$5,463  $5,494         BATH & BODY WORKS, INC.CONSOLIDATED STATEMENTS OF CASH FLOWS(Unaudited)(In millions)  Full-Year  2023   2022  (53 weeks) (52 weeks)Operating Activities:   Net Income$878  $800 Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities:   Depreciation of Long-lived Assets 269   221 Deferred Income Taxes (128)  17 Share-based Compensation Expense 43   38 Gain on Extinguishment of Debt (34)  — Impairment of Equity Method Investment 8   — Changes in Assets and Liabilities:   Accounts Receivable 2   11 Inventories (2)  — Accounts Payable, Accrued Expenses and Other (109)  44 Income Taxes Payable 34   39 Other Assets and Liabilities (7)  (26)Net Cash Provided by Operating Activities$954  $1,144     Investing Activities:   Capital Expenditures$(298) $(328)Other Investing Activities 12   — Net Cash Used for Investing Activities$(286) $(328)    Financing Activities:   Payments for Long-term Debt$(447) $— Dividends Paid (182)  (186)Repurchases of Common Stock (148)  (1,312)Payments of Finance Lease Obligations (15)  (9)Tax Payments related to Share-based Awards (11)  (32)Transfers and Payments to Victoria’s Secret & Co. related to Spin-Off (3)  (25)Proceeds from Stock Option Exercises 4   6 Other Financing Activities (13)  (4)Net Cash Used for Financing Activities$(815) $(1,562)    Effects of Exchange Rate Changes on Cash and Cash Equivalents$(1) $(1)Net Decrease in Cash and Cash Equivalents (148)  (747)Cash and Cash Equivalents, Beginning of Year 1,232   1,979 Cash and Cash Equivalents, End of Year$1,084  $1,232         BATH & BODY WORKS, INC.ADJUSTED FINANCIAL INFORMATION FROM CONTINUING OPERATIONS (Unaudited)(In millions, except per share amounts)         Fourth Quarter Full-Year  2023   2022  2023   2022  (14 weeks) (13 weeks) (53 weeks) (52 weeks)Reconciliation of Reported Net Income from Continuing Operations to Adjusted Net Income from Continuing OperationsReported Net Income from Continuing Operations$579  $428 $878  $794 Impairment of Equity Method Investment 8   —  8   — Gain on Extinguishment of Debt (6)  —  (34)  — Tax Effect of Special Items included in Other Income —   —  7   — Tax Benefit from Foreign Valuation Allowance Release (112)  —  (112)  — Adjusted Net Income from Continuing Operations$469  $428 $747  $794         Reconciliation of Reported Net Income from Continuing Operations Per Diluted Share to Adjusted Net Income from Continuing Operations Per Diluted ShareReported Net Income from Continuing Operations Per Diluted Share$2.55  $1.86 $3.84  $3.40 Impairment of Equity Method Investment 0.04   —  0.04   — Gain on Extinguishment of Debt (0.03)  —  (0.15)  — Tax Effect of Special Items included in Other Income —   —  0.03   — Tax Benefit from Foreign Valuation Allowance Release (0.49)  —  (0.49)  — Adjusted Net Income from Continuing Operations Per Diluted Share$2.06  $1.86 $3.27  $3.40              Full-Year      2023   2022      (53 weeks) (52 weeks)Reconciliation of Net Cash Provided by Operating Activities to Free Cash FlowNet Cash Provided by Operating Activities    $954  $1,144 Capital Expenditures     (298)  (328)Free Cash Flow    $656  $816             See Notes to Reconciliation of GAAP Financial Measures to Non-GAAP Financial Measures.BATH & BODY WORKS, INC.NOTES TO RECONCILIATION OF GAAP FINANCIAL MEASURESTO NON-GAAP FINANCIAL MEASURES(Unaudited)The “Adjusted Financial Information from Continuing Operations” provided in the attached reflects the following non-GAAP financial measures:Fiscal 2023In the fourth quarter of 2023, adjusted results exclude:An $8 million pre-tax impairment charge ($6 million net of tax of $2 million), included in other income, related to an equity method investment;A $6 million pre-tax gain ($5 million net of tax of $1 million), included in other income, associated with the early extinguishment of outstanding notes; andA $112 million tax benefit related to the partial release of a valuation allowance on a foreign deferred tax asset.In the third quarter of 2023, adjusted results exclude a:$12 million pre-tax gain ($9 million net of tax of $3 million), included in other income, associated with the early extinguishment of outstanding notes.In the second quarter of 2023, adjusted results exclude a:$9 million pre-tax gain ($7 million net of tax of $2 million), included in other income, associated with the early extinguishment of outstanding notes.In the first quarter of 2023, adjusted results exclude a:$7 million pre-tax gain ($5 million net of tax of $2 million), included in other income, associated with the early extinguishment of outstanding notes.Fiscal 2022There were no adjustments to results in 2022.The adjusted financial information should not be construed as an alternative to the results determined in accordance with generally accepted accounting principles. Further, the company’s definitions of adjusted income information may differ from similarly titled measures used by other companies. Management believes that the presentation of adjusted financial information provides additional information to investors to facilitate the comparison of past and present operations. While it is not possible to predict future results, management believes the adjusted financial information is useful for the assessment of the operations of the company because the adjusted items are not indicative of the company’s ongoing operations due to their size and nature. Additionally, management uses adjusted financial information as key performance measures for the purpose of evaluating performance internally. The adjusted financial information should be read in conjunction with the company’s historical financial statements and notes thereto contained in the company’s Quarterly Reports on Form 10-Q and Annual Report on Form 10-K.“Active members” of our loyalty program represent loyalty program members who have purchased at least once directly from the company during the preceding twelve-month period.“Total international system-wide retail sales” means the net sales of all Bath & Body Works stores and digital channels located outside North America and owned and/or operated by the company’s franchise, license and wholesale partners. While total international system-wide retail sales are not recorded as net sales by the company, management believes the information is important in understanding the company’s financial performance because these sales are the basis on which the company calculates and records certain net sales for its International business and are indicative of the financial health of the company’s franchise, license and wholesale partners and the prospects for growth of the company’s International business.BATH & BODY WORKS, INC.Fourth Quarter 2023Total Sales (In millions): Fourth Quarter Full-Year 2023 2022 % Change 2023 2022 % Change (14 weeks) (13 weeks)   (53 weeks) (52 weeks)  Stores - U.S. and Canada$2,162 $2,078 4% $5,507 $5,476 1%Direct - U.S. and Canada 656  716 (8%)  1,582  1,745 (9%)International (a) 94  95 (1%)  340  339 —%Total Bath & Body Works$2,912 $2,889 1% $7,429 $7,560 (2%)(a) Results include royalties associated with franchised stores and wholesale sales.Total Company-Operated Stores: Stores     Stores 1/28/2023 Opened Closed 2/3/2024United States1,693 93 (47) 1,739Canada109 2 —  111Total Bath & Body Works1,802 95 (47) 1,850Total Partner-Operated Stores: Stores     Stores 1/28/2023 Opened Closed 2/3/2024International401 65 (12) 454International - Travel Retail26 5 —  31Total International427 70 (12) 485

GlobeNewswire

Bath & Body Works Reports Fourth Quarter and Full-Year 2023 Results and Provides 2024 Outlook

https://finance.yahoo.com/news/bath-body-works-reports-fourth-115500824.html

9f1b6a14-7be1-34e9-b9f6-e5695679773e

BBWI

Bath & Body Works, Inc.COLUMBUS, Ohio, March 05, 2024 (GLOBE NEWSWIRE) -- Bath & Body Works, Inc. (NYSE: BBWI) announced today that Eva Boratto, chief financial officer, will participate in a fireside chat at the Bank of America Consumer & Retail Conference on Tuesday, March 12, 2024, at 8:00 a.m. EDT.A live audio webcast will be available at the time of the event and may be accessed through the Events and Presentations section of the company’s website at https://investors.bbwinc.com/financial-reporting/events-presentations. The webcast will be archived and available at the same location for 90 days after the conclusion of the live event.ABOUT BATH & BODY WORKSHome of America’s Favorite Fragrances®, Bath & Body Works is a global leader in personal care and home fragrance, including top-selling collections for fine fragrance mist, body lotion and body cream, 3-wick candles, home fragrance diffusers and liquid hand soap. Powered by agility and innovation, the company’s predominantly U.S.-based supply chain enables the company to deliver quality, on-trend luxuries at affordable prices. Bath & Body Works serves and delights customers however and wherever they want to shop, from welcoming, in-store experiences at 1,850 company-operated Bath & Body Works locations in the U.S. and Canada and more than 480 international franchised locations to an online storefront at bathandbodyworks.com.For further information, please contact:Bath & Body Works, Inc.:Investor RelationsMike McGuireInvestorRelations@bbw.comMedia RelationsJamison PackCommunications@bbw.com

GlobeNewswire

Bath & Body Works to Present at the Bank of America Consumer & Retail Conference

https://finance.yahoo.com/news/bath-body-works-present-bank-160000657.html

1ada24f4-3dc8-302d-b15a-f6e6e77d58f6

BBY

Many big retailers will release their earnings reports next week, including Macy's (M) and Best Buy (BBY). With continued inflation and uncertainty around the Federal Reserve's next monetary policy decision, Wall Street is turning toward other factors like the strength of the US consumer to better understand economic conditions.BMO Capital Markets Managing Director Simeon Siegel joins Yahoo Finance to discuss upcoming retail earnings and the state of the American consumer during economic headwinds.Siegel elaborates on the state of the consumer:"It sounds pretty scary, so if the question is whether the consumer is healthy or not, I don't know. If the question is whether the consumer is spending or not, the revenues are saying they are. And so I know there's this perception that because of inflation on staple items, people aren't buying discretionary, but I'm not seeing that in the results... We'll see TJX (TJX) give us a very good snapshot on people that are specifically looking for value, but then we'll see Birkenstock (BIRK), on the other hand, where people are buying, perhaps paying more comfortable spending on."For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.Editor's note: This article was written by Nicholas JacobinoVideo Transcript[AUDIO LOGO]SEANA SMITH: The resilient consumer is one of the big factors that has helped the economy avoid a recession. So far this earnings season key retailers though have cautioned about weakening sales trends, inflation still being a problem and pickier customers. While investors we are going to get a closer look at some of these spending trends next week with Lowe's Urban Outfitters TJX companies and Best Buy all scheduled to report.Let's talk about what we could expect with Simeon Siegel. He's BMO Capital Markets managing director. Simeon, it's good to see you here. So when we think about the companies that have reported so far, there has been a trend of consumers once again trading down. They are clearly being hit by the fact that inflation has proven to be even stickier than many forecasters had anticipated up until this point. What does that mean for some of these retailers that are set to report next week?Story continuesSIMEON SIEGEL: Hey, Seana, great to see you. By the way, you're reminding me how busy and painful next week is going to be. Thank you. So [INAUDIBLE]--SEANA SMITH: Just a friendly reminder ahead of the weekend. It's a great Friday reminder, that's great. So I think what is very interesting right now is there's an incredible amount of nuance at the company level. And in theory, that's a very encouraging thing if you're a stock picker. The problem is we can look at the market. And we can see what happened yesterday as an example. And there is so much of the stock trading dynamic, which is just market driven right now.And so I'm looking at some of these businesses and saying, you know what? For the first time since the pandemic, companies actually have to execute. Well, you're watching certain companies drive revenues up, certain ones drive revenues down. You're watching certain companies see material gross margin expansion, others a lot less. And so that's really comforting. The problem is right now all my stocks are up.And so when I look across the board, it's going to be very interesting next week seeing what matters, what people want to focus on. And I think that's your question. And so what I'm going to keep an eye on is the fact that so far my companies on average have seen revenues grow mid-single digits. But they've seen gross margins expand by 200 basis points. There's still this benefit from supply chain.And so this is a very important quality of earnings story to keep in mind.BRAD SMITH: When would you describe-- how would you describe the consumer amid this earnings season as well, Simeon? I mean, when you think about where the consumer is still willing to buy in at full prices versus where they're looking for deals and looking for value hacks.SIMEON SIEGEL: Yeah. It's such an important question because we're all hearing the consumer-- listen, it sounds pretty scary. So if the question is whether consumer is healthy or not, I don't know. If the question is whether the consumer is spending or not, well, the revenues are saying they are. And so I know there's this perception that because of inflation on staple items, people aren't buying discretionary. But I'm not seeing that in the results.We are seeing revenues grow. And so I think that's this really fascinating conversation. As we look, listen, we'll see TJX give us a very good snapshot on people that are specifically looking for value. But then we'll see Birkenstock on the other hand where people are buying perhaps more comfortable spending up. So I think it's much more of a company specific. I think you give a consumer something that they want to spend on and they're willing to spend on it.Whether that's healthy or not, that's a different conversation.SEANA SMITH: Simeon, what does the promotional environment look like right now in terms of the channel checks that you've been seeing? And do you expect that trend that we did see play out over the holidays. Is that something that's going to remain intact in 2024?SIMEON SIEGEL: Yeah. I think that the holiday trend probably will because the holiday trend showed certain companies promoting and certain ones not. And I think that's a really interesting example, like Bath & Body Works is going to report next week. I'm hoping that what they tell us is that they pulled back on promotions because they believe that they can drive a full price sell through.That's a scented candle, it's not a big ticket item. But it's an item where people feel very passionate about and they're willing to spend. It's clearly a-- well, it's more discretionary than it is staple, though maybe some people would disagree. And so we've definitely been seeing promotions. We've been seeing the companies that need to drive demand. Resort to pulling that price lever.But we've also been seeing plenty that are not. Talk about prices that are growing. And so I think that's what you want to see. If you're a retailer, if you're an operator, you want to know that the consumer is going to give you credit for items that they believe that you think have value there. And you do not need to drive promotions. But as we saw since 2008, the companies that don't have that, they go immediately to promotions. During the pandemic, we didn't see them, we definitely are seeing them now.

Yahoo Finance Video

Are consumers truly resilient? What retail revenues say

https://finance.yahoo.com/video/consumers-truly-resilient-retail-revenues-165736348.html

e6400ba4-aec9-3590-adb3-ac244ee166a2

BBY

In its upcoming report, Best Buy (BBY) is predicted by Wall Street analysts to post quarterly earnings of $2.51 per share, reflecting a decline of 3.8% compared to the same period last year. Revenues are forecasted to be $14.52 billion, representing a year-over-year decrease of 1.5%.Over the past 30 days, the consensus EPS estimate for the quarter has remained unchanged. This demonstrates the covering analysts' collective reassessment of their initial projections during this period.Prior to a company's earnings announcement, it is crucial to consider revisions to earnings estimates. This serves as a significant indicator for predicting potential investor actions regarding the stock. Empirical research has consistently demonstrated a robust correlation between trends in earnings estimate revision and the short-term price performance of a stock.While investors typically use consensus earnings and revenue estimates as a yardstick to evaluate the company's quarterly performance, scrutinizing analysts' projections for some of the company's key metrics can offer a more comprehensive perspective.Bearing this in mind, let's now explore the average estimates of specific Best Buy metrics that are commonly monitored and projected by Wall Street analysts.The average prediction of analysts places 'Geographic Revenue- Domestic' at $13.32 billion. The estimate points to a change of -1.6% from the year-ago quarter.The combined assessment of analysts suggests that 'Geographic Revenue- International' will likely reach $1.19 billion. The estimate indicates a year-over-year change of -1.5%.The collective assessment of analysts points to an estimated 'Number of stores - Total' of 1,118. Compared to the current estimate, the company reported 1,138 in the same quarter of the previous year.The consensus estimate for 'Number of stores - Domestic - Total' stands at 959. Compared to the present estimate, the company reported 978 in the same quarter last year.Story continuesAnalysts forecast 'Number of stores - International - Total' to reach 158. The estimate compares to the year-ago value of 160.Analysts expect 'Number of stores - International - Canada Best Buy Stores' to come in at 128. Compared to the current estimate, the company reported 127 in the same quarter of the previous year.It is projected by analysts that the 'Number of stores - Domestic - U.S. Best Buy Outlet Centers' will reach 24. Compared to the present estimate, the company reported 19 in the same quarter last year.The consensus among analysts is that 'Number of stores - Domestic - Pacific Sales Stores' will reach 20. Compared to the current estimate, the company reported 20 in the same quarter of the previous year.Analysts predict that the 'Number of stores - Domestic - U.S. Best Buy Stores' will reach 900. The estimate compares to the year-ago value of 925.Based on the collective assessment of analysts, 'Number of stores - International - Canada Best Buy Mobile Stand-Alone Stores' should arrive at 32. The estimate is in contrast to the year-ago figure of 33.According to the collective judgment of analysts, 'Gross profit- International- Non-GAAP' should come in at $263.52 million. Compared to the current estimate, the company reported $261 million in the same quarter of the previous year.Analysts' assessment points toward 'Gross profit- Domestic- Non-GAAP' reaching $2.69 billion. The estimate is in contrast to the year-ago figure of $2.68 billion.View all Key Company Metrics for Best Buy here>>>Shares of Best Buy have demonstrated returns of +2% over the past month compared to the Zacks S&P 500 composite's +4.7% change. With a Zacks Rank #3 (Hold), BBY is expected to mirror the overall market performance in the near future. You can see the complete list of today's Zacks Rank #1 (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 reportBest Buy Co., Inc. (BBY) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

Insights Into Best Buy (BBY) Q4: Wall Street Projections for Key Metrics

https://finance.yahoo.com/news/insights-best-buy-bby-q4-141603865.html

da8b9f9e-e590-387d-af71-2eced5a256dd

BBY

MINNEAPOLIS, March 07, 2024--(BUSINESS WIRE)--Best Buy Co., Inc. (NYSE: BBY) announced today that current Board Chairman, J. Patrick Doyle, will retire from his position, effective as of the expiration of his annual term on June 12, 2024. Doyle has served on Best Buy’s Board of Directors since 2014 and has been chairman since 2020.David Kenny will succeed Doyle and will take on the chairman role, effective as of Doyle’s retirement. Kenny is the executive chairman of Nielsen and has been on the Best Buy Board since 2013. For more than 10 years, Kenny has been an integral member of the Board and has provided thoughtful guidance that has contributed to the growth of Best Buy."It’s been an honor to serve as chairman on the Best Buy Board and I am thankful to have had the opportunity to be surrounded by so many other great leaders over the past 10 years," Doyle said. "I’m also incredibly optimistic about the future of Best Buy and I know the Board, under David’s leadership, will help guide the company to continued success.""The leadership at Best Buy, both within the company and on the Board, continues to prove why this organization is viewed as a leader in the retail industry," Kenny said. "I couldn’t be more appreciative of Patrick’s guidance and I am looking forward to taking on the chairman role.""I am forever grateful for the leadership and steady voice Patrick has brought to our Board of Directors over the past decade, as well as the invaluable expertise he has provided our organization and the guidance he has given me," said Corie Barry, CEO of Best Buy. "I’m genuinely excited about what lies ahead for us while we find ways to better serve our customers as the industry returns to growth. I know David is the best leader to help us with this work."In addition to a new chairman of the Board, Best Buy also announced that Eugene A. Woods will retire from his position on the board, effective as of the expiration of his annual term on June 12, 2024. Woods has been on the Board since 2018, currently serves as the CEO of Advocate Health and is a member of the Board of Directors at Johnson & Johnson. Throughout his time on the Best Buy Board, Woods has lent his extensive background in the health industry as well as strong business acumen to further Best Buy’s purpose of enriching lives through technology.Story continuesAbout Best Buy Co., Inc.Best Buy (NYSE: BBY) is the world’s largest specialty consumer electronics retailer. Our purpose is to enrich lives through technology, which we do by providing our customers a unique mix of advice, products and services in our stores, online, and in homes. Our expert associates advise customers on our curated assortment of the latest, name-brand technology, while our highly trained services teams help with designs, consultations, delivery, installation, tech support and repair. We are a leader in environmental, social and governance issues, including through the Best Buy Foundation’s nationwide Best Buy Teen Tech Center® network and the significant role we play in the circular economy through repair, trade-in and recycling programs. We generated more than $43 billion of revenue in fiscal 2024, operate more than 1,000 retail stores in North America, and have more than 85,000 employees. For more information, visit corporate.bestbuy.com and investors.bestbuy.com.View source version on businesswire.com: https://www.businesswire.com/news/home/20240307236779/en/ContactsPR Contact: Keegan ShoutzKeegan.Shoutz@bestbuy.comIR Contact: Mollie O’BrienMollie.Obrien@bestbuy.com

Business Wire

Best Buy Announces Retirement of Board Chairman J. Patrick Doyle, Appoints David Kenny

https://finance.yahoo.com/news/best-buy-announces-retirement-board-140000425.html

61d15117-5a9f-3616-b782-d115cec5c6ad

BBY

In this article, we will be taking a look at the 20 biggest retail companies in the US. If you want to skip our detailed analysis of the retail industry, you can go directly to see the 5 Biggest Retail Companies in the US.The Global Retail Industry at a GlanceThe global retail industry drives consumer spending, contributes to GDP growth, and employs a large number of people globally. According to a report by Mordor Intelligence, the global retail industry is expected to reach a value of $32.68 trillion in 2024. The market is expected to grow at a compound annual growth rate (CAGR) of 7.65% from 2024 to 2029 and reach a value of $47.24 trillion by the end of the forecasted period.Rising disposable income and increased consumer spending are key factors creating a positive outlook for the market. Innovation in retail technology, including artificial intelligence (AI), augmented reality (AR), virtual reality (VR), and the Internet of Things (IoT), is fueling market growth. These technologies are expected to become more prominent to enhance the customer experience and meet changing consumer preferences during the forecasted period.Key Market Players in the US Retail SectorSome of the most prominent names in the US retail industry are Walmart Inc. (NYSE:WMT), Amazon.com Inc. (NASDAQ:AMZN), and Costco Wholesale Corporation (NASDAQ:COST). Let's discuss these companies in detail below.Costco Wholesale Corporation (NASDAQ:COST) is a retail company that operates a chain of membership-only warehouses and retail stores. It offers quality merchandise at discounted prices by selling in bulk at lower margins. Costco Wholesale Corporation (NASDAQ:COST) is one of the largest retailers in the world and it ranks high among the best discount retailer stocks to buy as well. On March 7, Costco Wholesale Corporation (NASDAQ:COST) reported strong earnings for the fiscal second quarter of 2024. The company reported earnings per share (EPS) of $3.71, surpassing EPS estimates by $0.07. The company reported a revenue of $58.44 billion. Here are some comments from Costco Wholesale Corporation's (NASDAQ:COST) earnings call regarding its plans for fiscal 2024:Story continues"And that puts the remainder of fiscal 2024 for Q3 and Q4, we plan on opening a total of 15 net new locations, 11 in the US, two in Japan, and one each in Korea and in China. Regarding CapEx, fiscal second quarter spend was approximately $1.03 billion. And for the year, it remains in the north of $4.4 billion to $4.6 billion, in that range." Retail companies are embracing data analytics and customer insights to offer personalized shopping experiences. Technological innovations are further expected to enhance customer satisfaction. Amazon.com Inc. (NASDAQ:AMZN) is an American multinational online retail and technology company. It specializes in e-commerce, online marketing, cloud computing, and artificial intelligence. Amazon.com Inc. (NASDAQ:AMZN) is one of the best internet retail stocks to buy. On January 16, CNBC reported that Amazon.com Inc. (NASDAQ:AMZN) has introduced an artificial intelligence (AI) tool that can answer shoppers’ questions about specific products. The new feature, available on Amazon.com Inc.’s (NASDAQ:AMZN) mobile app, will quickly provide answers by summarizing information collected from product reviews and listings. This tool can help shoppers avoid scrolling through pages of reviews to find information about an item.Retailers are also working on optimizing delivery processes to enhance customer experience. On March 7, Walmart Inc. (NYSE:WMT) announced the launch of a new On-Demand Early Morning Delivery service to help customers save time and offer convenience. Starting as early as 6 AM, this innovative solution will allow customers to receive their orders within 30 minutes, providing an early and quick solution for their shopping needs. With a wide range of items available both in-store and online, customers can easily access products like fashion, furniture, baby essentials, and more during the early morning hours. This initiative is part of Walmart Inc.’s (NYSE:WMT) ongoing efforts to enhance customer experiences and streamline delivery services.Now that we have discussed what’s going on in the retail industry, let’s take a look at the 20 biggest retail companies in the US.20 Biggest Retail Companies in the USA wide view of an aisle in a specialty retailer, filled with licensed pop culture products, vinyls and action figures.MethodologyIn this article, we have listed the 20 biggest retail companies in the US. To find the top retail companies in America, we sifted through various sources including industry reports, our own rankings in addition to rankings available on various websites, and consulted stock screeners from Yahoo Finance and Finviz. For companies that are publicly traded, we decided to rank them according to their market capitalization as of March 8, 2024. We used fiscal year revenues to rank the companies that are not publicly traded. Finally, we narrowed down our selection to rank the 20 biggest retail companies in the US based on their market capitalization and revenues, which are listed below in ascending order.20 Biggest Retail Companies in the US20. Williams-Sonoma Inc. (NYSE:WSM)Market Capitalization: $15.87 BillionWilliams-Sonoma Inc. (NYSE:WSM) is an American consumer retail company that ranks among the top 20 biggest retail companies in the US. The company owns a number of brands and it sells kitchenware, appliances, and home furnishings. It operates retail stores in the US, Canada, Australia, and the United Kingdom. Williams-Sonoma Inc. (NYSE:WSM) has a market capitalization of $15.87 billion as of March 8, 2024.19. Best Buy Co. Inc. (NYSE:BBY)Market Capitalization: $17.12 BillionBest Buy Co. Inc. (NYSE:BBY) is an American consumer electronics retailer. As one of the world’s largest specialty consumer electronics retailers, it has more than 1,000 stores in the US and Canada. As of March 8, 2024, Best Buy Co. Inc. (NYSE:BBY) has a market capitalization of $17.12 billion.18. Walgreens Boots Alliance Inc. (NASDAQ:WBA)Market Capitalization: $18.05 BillionWalgreens Boots Alliance Inc. (NASDAQ:WBA) is an integrated healthcare, pharmacy, and retail company. As one of the world’s biggest pharmacy retailers, it has over 12,500 locations in the US, Europe, and Latin America. Walgreens Boots Alliance Inc. (NASDAQ:WBA) has a market capitalization of $18.05 billion as of March 8, 2024. It ranks 18th on our list of the 20 biggest retail companies in the US.17. Ulta Beauty Inc. (NASDAQ:ULTA)Market Capitalization: $26.62 BillionUlta Beauty Inc. (NASDAQ:ULTA) is an American chain of beauty stores. As one of the largest beauty retailers in the US, it sells prestige cosmetics, fragrances, skincare, and hair care products. As of March 8, 2024, Ulta Beauty Inc. (NASDAQ:ULTA) has a market capitalization of $26.62 billion.16. Tractor Supply Company (NASDAQ:TSCO)Market Capitalization: $26.88 BillionTractor Supply Company (NASDAQ:TSCO) is an American retail chain of stores that sells products for agriculture, lawn and garden maintenance, home improvement, and livestock and pet care to home, land, pet, and animal owners. The company operates more than 2,200 stores in 49 states. As one of the top retail companies in the US, Tractor Supply Company (NASDAQ:TSCO) has a market capitalization of $26.88 billion as of March 8, 2024.15. Dollar Tree Inc. (NASDAQ:DLTR)Market Capitalization: $32.68 BillionDollar Tree Inc. (NASDAQ:DLTR) is an American retail corporation that operates a chain of discount variety stores. It ranks among the top 15 on our list of the biggest retail companies in the US. With more than 16,000 stores, Dollar Tree Inc. (NASDAQ:DLTR) operates in all 48 contiguous states and 5 Canadian provinces. As of March 8, 2024, Dollar Tree Inc. (NASDAQ:DLTR) has a market capitalization of $32.68 billion.14. Dollar General Corporation (NYSE:DG)Market Capitalization: $34.88 BillionDollar General Corporation (NYSE:DG) is a major discount retailer that operates a chain of variety stores. With more than 19,000 stores in the US, the corporation offers low prices on a wide variety of items including, food, snacks, cleaning supplies, housewares, and basic apparel. Dollar General Corporation (NYSE:DG) has a market capitalization of $34.88 billion as of March 8, 2024.13. The Kroger Co. (NYSE:KR)Market Capitalization: $39.94 BillionThe Kroger Co. (NYSE:KR), commonly known as Kroger, is an American retail company that ranks 13th on our list of the biggest retail companies in the US. It operates retail stores, supermarkets, and multi-department stores. It also operates 170 fine jewelry stores and more than 2,200 pharmacies. As one of the largest retailers in the US, The Kroger Co. (NYSE:KR) has a market capitalization of $39.94 billion as of March 8, 2024.12. Ross Stores Inc. (NASDAQ:ROST)Market Capitalization: $49.16 BillionRoss Stores Inc. (NASDAQ:ROST), operating under the brand name Ross Dress for Less, is one of the largest off-price retail chains in the US. Through its chain of discount department stores, it provides branded and designer apparel, accessories, footwear, and home fashions. As of March 8, 2024, Ross Stores Inc. (NASDAQ:ROST) has a market capitalization of $49.16 billion.11. AutoZone Inc. (NYSE:AZO) Market Capitalization: $54.08 BillionAutoZone Inc. (NYSE:AZO) is an American retailer and distributor of automotive replacement parts and accessories. It provides auto and truck parts, chemicals, and accessories through more than 6,000 store locations in the US. As one of the top retail companies in the United States, AutoZone Inc. (NYSE:AZO) has a market capitalization of $54.08 billion as of March 8, 2024.10. Publix Super MarketsRevenue: $57.1 BillionPublix Super Markets, or simply Publix, is a private company that ranks among the top 10 on our list of the biggest retail companies in the US. With more than 1,300 store locations, Publix Super Markets is the largest employee-owned supermarket chain in the United States. In 2023, Publix Super Markets generated a revenue of $57.1 billion.9. O'Reilly Automotive Inc. (NASDAQ:ORLY)Market Capitalization: $64.31 BillionO'Reilly Automotive Inc. (NASDAQ:ORLY) is an American auto parts retailer. It is a major supplier of automotive aftermarket parts, equipment, supplies, tools, and accessories to professional service providers and do-it-yourself customers. It currently has more than 6,000 stores in 48 US states and Puerto Rico and over 60 stores in Mexico. As of March 8, 2024, O'Reilly Automotive Inc. (NASDAQ:ORLY) has a market capitalization of $64.31 billion.8. Target Corporation (NYSE:TGT)Market Capitalization: $79.19 BillionTarget Corporation (NYSE:TGT) is an American retail corporation. As one of the largest retailers in the US, it operates a chain of discount department stores and hypermarkets. With more than 1,900 stores in the US and a market capitalization of $79.19 billion as of March 8, 2024, Target Corporation (NYSE:TGT) ranks 8th on our list of the 20 biggest retail companies in the US.7. CVS Health Corporation (NYSE:CVS)Market Capitalization: $93.5 BillionCVS Health Corporation (NYSE:CVS) is an American healthcare company that provides healthcare and retail pharmacy services. It offers a variety of products and services through its brands including Aetna, CVS Caremark, and CVS Pharmacy. CVS Pharmacy is one of the largest retail pharmacy chains in the US. CVS Health Corporation (NYSE:CVS) has a market capitalization of $93.5 billion as of March 8, 2024.6. The TJX Companies Inc. (NYSE:TJX)Market Capitalization: $109.13 BillionThe TJX Companies Inc. (NYSE:TJX) is an American multinational off-price department store corporation that offers deep discounts on selections of high quality, fashionable, brand name and designer merchandise. It is a major off-price retailer of apparel and home fashions in the US. The TJX Companies Inc. (NYSE:TJX) has more than 4,800 stores and the company has a presence in nine countries. With a market capitalization of $109.13 billion as of March 8, 2024, it ranks 6th on our list of the 20 biggest retail companies in the US.Click to continue reading and see 5 Biggest Retail Companies in the US.Suggested Articles:Top 20 Most Valuable Fintech Companies in the US25 Most Valuable Tech Companies Outside The US30 Largest Companies in the World by RevenueDisclosure: None. 20 Biggest Retail Companies in the US is published on Insider Monkey.

Insider Monkey

20 Biggest Retail Companies in the US

https://finance.yahoo.com/news/20-biggest-retail-companies-us-171425916.html

1b98d316-510b-3559-bc15-17f01fd77551

BDX

Becton, Dickinson and Company BDX, popularly known as BD and Camtech Health, recently announced their strategic collaboration to uplift cervical cancer screening for women in Singapore by providing them the first-ever option to self-collect a sample amidst the privacy of their own home.The partnership is intended to raise the percentage of cervical cancer screening in Singapore, where the present screening rate is less than half of eligible women.Price PerformanceFor the past six months, BDX’s shares have lost 12.1% compared with the industry’s decline of 5.5%. The S&P 500 increased 12.0% in the same time frame.Zacks Investment ResearchImage Source: Zacks Investment ResearchMore on the NewsCervical cancer is the 10th most common cancer in Singapore, and for women aged 30 to 39, it is the fourth most common cancer. The main obstacles to screening for women in Singapore are time constraints, embarrassment, anxiety, and inconvenience. Until recently, the country only provided HPV testing in hospital or clinic settings, requiring a speculum examination and a physician collection.The pressing public health issue of reaching women who miss routine cervical cancer screenings can be addressed with the use of at-home collecting. In addition to giving women more access to HPV testing by allowing them to take a sample in private at a time and location of their choosing, self-collection also gives them the assurance that the reliability of their samples is at par with those taken by a clinician.The program combines the clinically validated BD Onclarity HPV Assay, which can concurrently detect 14 high-risk HPV strains, with the Camtech Health HPV test for self-collection.Simple steps are involved in taking the HPV test with the Camtech Health app, and the results are mailed back in postage-paid packaging that comes with the kit. The sample is examined using the BD Viper LT fully automated integrated molecular testing system and the BD Onclarity HPV assay. The results are reviewed by a physician and made available on the app, along with a virtual consultation to address any irregularities.Story continuesMore on BD Onclarity HPV AssayIn a single analysis, the BD Onclarity HPV Assay detects and identifies 14 high-risk HPV types. It also provides genotyping information from specimens collected for cervical cancer screening purposes using the Cervical Brush Diluent tube, Hologic PreservCyt Solution, and BD SurePath Preservative Fluid.The BD Onclarity HPV Assay has FDA approval for clinical use in cytology-based screening with ASC-US triage, in co-testing paradigm and primary HPV screening. The assay has also met international criteria for primary HPV screening.The BD Onclarity HPV Assay received the industry's first CE Mark for HPV screening from at-home self-collected vaginal samples.Industry ProspectsPer a report by Coherent Market Insights, the global cervical cancer diagnostic tests market size was valued at $7.04 billion in 2023 and is expected to grow at 6.3% from 2023 to 2030.Increased teenage sexual activity, rising incidence of cervical cancer, and high prevalence of (human papillomavirus) HPV-infected individuals are anticipated to drive the growth of the global market for cervical cancer diagnostic tests.With the given market potential for diagnosing cervical cancer, BD’s collaboration with Camtech Health is likely to boost its business and generate additional revenues.Notable DevelopmentsIn January 2024, BDX announced a strategic collaboration agreement with Techcyte. The tie-up aims to offer an artificial intelligence (AI)-based algorithm that guides cytologists and pathologists to identify evidence of cervical cancer and pre-cancer using whole-slide imaging efficiently and effectively.In the same month, the company announced its collaboration agreement with Hamilton, a leading global manufacturer of laboratory automation technology, to develop automated applications coupled with robotics-compatible reagent kitsto enable greater standardization and reduce human error when conducting large-scale single-cell multiomics experiments.In December 2023, BD announced the FDA 510(k) clearance for its novel blood collection device, MiniDraw. This revolutionary device is likely to reshape the landscape of diagnostic testing by offering a less invasive and more convenient method for obtaining lab-quality blood samples.Becton, Dickinson and Company PriceBecton, Dickinson and Company PriceBecton, Dickinson and Company price | Becton, Dickinson and Company QuoteZacks Rank & Stocks to ConsiderBDX carries a Zacks Rank #3 (Hold) at present.Some better-ranked stocks in the broader medical space that have announced quarterly results are Cencora, Inc. COR, Elevance Health, Inc. ELV and Cardinal Health, Inc. CAH.Cencora, carrying a Zacks Rank of 2 (Buy), reported first-quarter fiscal 2024 adjusted EPS of $3.28, beating the Zacks Consensus Estimate by 14.7%. Revenues of $72.25 billion outpaced the consensus mark by 5%. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.Cencora has a long-term estimated growth rate of 8.6%. COR’s earnings surpassed estimates in all the trailing four quarters, the average surprise being 6.7%.Elevance Health reported fourth-quarter 2023 adjusted EPS of $5.62, beating the Zacks Consensus Estimate by 1.3%. Revenues of $42.45 billion outpaced the consensus mark by 1.5%. It currently carries a Zacks Rank #2.Elevance Health has a long-term estimated growth rate of 12%. ELV’s earnings surpassed estimates in all the trailing four quarters, the average surprise being 3.1%.Cardinal Health reported second-quarter fiscal 2024 adjusted EPS of $1.82, beating the Zacks Consensus Estimate by 16.7%. Revenues of $57.45 billion surpassed the Zacks Consensus Estimate by 1.1%. It currently carries a Zacks Rank #2.Cardinal Health has a long-term estimated growth rate of 15.9%. CAH’s earnings surpassed estimates in all the trailing four quarters, the average surprise being 15.6%.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 reportBecton, Dickinson and Company (BDX) : Free Stock Analysis ReportCardinal Health, Inc. (CAH) : Free Stock Analysis ReportCencora, Inc. (COR) : Free Stock Analysis ReportElevance Health, Inc. (ELV) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

BD (BDX), Camtech Health Unite to Aid Cervical Cancer Screening

https://finance.yahoo.com/news/bd-bdx-camtech-health-unite-161400218.html

9f6aa6fb-b459-35f1-ac48-c03029e6e5c4

BDX

In this article, we discuss 13 best environmental dividend stocks to invest in according to analysts. You can skip our detailed analysis of ESG investing and its prospects, and go directly to read 5 Best Environmental Dividend Stocks To Invest In According To Analysts. Sustainable investing, increasingly gaining traction among investors, represents a pivotal shift in financial markets towards aligning profit motives with environmental, social, and governance (ESG) considerations. A growing number of individuals are becoming attracted to ESG investments for a variety of reasons, ranging from ethical concerns to sound financial decision-making. As per research conducted by deVere Group, over 800 clients revealed that more than half (56%) of investors expressed their intentions to boost their investments in ESG funds in 2024.Despite the increasing popularity of ESG investing, the year 2023 did not fare well for such investment strategies. Investors persisted in withdrawing their investments from sustainable funds during the fourth quarter of 2023. U.S. sustainable funds experienced their initial year of outflows since records began over a decade ago, marking 2023 as their most challenging year to date, according to a report by Morningstar. In the fourth quarter alone, investors withdrew $5 billion from U.S. sustainable funds, contributing to a total outflow of $13 billion throughout the year. This trend was attributed to underperformance, ongoing political scrutiny in the US, and a challenging year for an iShares fund. Moreover, by the end of 2023, the total assets invested in sustainable funds reached $323 billion. This figure indicates a drop of approximately 12% from the previous record high recorded at the end of 2021. However, it also signifies an 18% increase from the lowest point observed in the third quarter of 2022. In contrast, assets within the broader U.S. funds market reached their peak at the end of 2021 but experienced a decline of 5% by the end of 2023.Story continuesThat said, analysts are optimistic about the potential of ESG investing in the foreseeable future. Based on a study conducted by Bloomberg Intelligence, global ESG assets are projected to surpass $53 trillion by 2025, constituting more than a third of the estimated total assets under management of $140.5 trillion. The convergence of factors including the pandemic and the green recovery initiatives in major economies such as the U.S., EU, and China is expected to demonstrate the efficacy of ESG in evaluating a fresh array of financial risks and leveraging capital markets.As discussed previously, there is a growing trend among investors towards ESG investing, primarily due to the reputation of these assets for delivering consistent returns. Contrary to concerns regarding potential conflicts between financial gains and ESG principles, a survey conducted by PwC revealed that nine out of ten asset managers believe that incorporating ESG criteria into their investment approach will enhance overall returns. Moreover, a majority of institutional investors, accounting for 60%, reported experiencing higher performance yields from ESG investments compared to non-ESG alternatives. The survey also noted that investors are willing to pay for ESG performance, as they anticipate the potential for higher returns. Specifically, three-quarters of those surveyed, constituting 78%, expressed their readiness to pay elevated fees for ESG funds.American Tower Corporation (NYSE:AMT), AT&T Inc. (NYSE:T), and Albemarle Corporation (NYSE:ALB) are some of the best companies in the realm of ESG investing. Beyond their financial success, the companies demonstrate a commitment to environmental sustainability by optimizing their operations to minimize energy consumption and carbon footprint. In this article, we will discuss some of the best environmental dividend stocks according to analysts.13 Best Environmental Dividend Stocks To Invest In According To AnalystsChinnapong/Shutterstock.comOur Methodology:For this list, we scanned the holdings of Vanguard ESG U.S. Stock ETF, which is a market capitalization-weighted index composed of large-, mid-, and small-cap stocks of companies located in the United States that are screened for certain environmental, social, and corporate governance (ESG) criteria by the index provider, which is independent of Vanguard. From the index, we picked 13 stocks that pay dividends and have a projected upside potential of over 15% based on analyst price targets. The stocks are ranked according to their upside potential, as of February 23. We have also mentioned hedge fund sentiment for these stocks. Hedge funds’ top 10 consensus stock picks outperformed the S&P 500 Index by more than 140 percentage points over the last 10 years (see the details here). That’s why we pay very close attention to this often-ignored indicator.13. S&P Global Inc. (NYSE:SPGI)Upside Potential as of February 23: 15.2%S&P Global Inc. (NYSE:SPGI) is a leading provider of financial market intelligence, including credit ratings, indices, data, and analytics. The company is actively involved in ESG investing both through its own corporate practices and by providing data, analytics, and research to support ESG investing initiatives in the broader financial community.S&P Global Inc. (NYSE:SPGI) currently offers a quarterly dividend of $0.91 per share, having raised it by 1.1% in January this year. Through this increase, the company stretched its annual dividend growth streak to 51 years, which makes SPGI one of the best dividend stocks on our list. The stock's dividend yield on February 23 came in at 0.83%.The number of hedge funds tracked by Insider Monkey owning stakes in S&P Global Inc. (NYSE:SPGI) grew to 82 in Q4 2023, from 78 in the previous quarter. The collective value of these stakes is over $8.88 billion. With over 9 million shares, TCI Fund Management was the company's leading stakeholder in Q4.12. Pfizer Inc. (NYSE:PFE)Upside Potential as of February 23: 15.4%An American biotech and pharmaceutical company, Pfizer Inc. (NYSE:PFE) has committed to reducing its environmental impact by setting targets to decrease greenhouse gas emissions, water usage, and waste generation. The company invests in energy-efficient technologies, sustainable packaging, and renewable energy sources to mitigate its environmental footprint.Pfizer Inc. (NYSE:PFE) is one of the best environmental dividend stocks on our list as the company has been rewarding shareholders with growing dividends for the past 14 consecutive years. The company offers a quarterly dividend of $0.42 per share and has a dividend yield of 6.05%, as recorded on February 23.At the end of Q4 2023, 79 hedge funds tracked by Insider Monkey reported having stakes in Pfizer Inc. (NYSE:PFE), growing from 73 in the preceding quarter. The consolidated value of these stakes is more than $2.21 billion.11. Mid-America Apartment Communities, Inc. (NYSE:MAA)Upside Potential as of February 23: 15.9%Mid-America Apartment Communities, Inc. (NYSE:MAA) is a real estate investment trust company that focuses on the acquisition, development, redevelopment, and management of multifamily apartment communities. It invests in in energy-efficient appliances, lighting, and HVAC systems, as well as implement recycling programs and landscaping practices that minimize water usage and promote biodiversity. The company offers a quarterly dividend of $1.47 per share, having raised it by 5% in December 2023. This was the company's 13th consecutive year of dividend growth, which makes MAA one of the best environmental dividend stocks to buy. As of February 23, the stock has a dividend yield of 4.65%.As of the close of Q4 2023, 23 hedge funds in Insider Monkey's database owned stakes in Mid-America Apartment Communities, Inc. (NYSE:MAA), up from 19 in the previous quarter. These stakes have a total value of more than $524.3 million. Among these hedge funds, Balyasny Asset Management was the company's leading stakeholder in Q4.10. Morgan Stanley (NYSE:MS)Upside Potential as of February 23: 16.4%Morgan Stanley (NYSE:MS) is a global financial services firm that provides a wide range of related services to its consumers. The company offers a range of ESG-focused investment products and solutions to meet the growing demand from clients who seek to align their investments with their values.Morgan Stanley (NYSE:MS), one of the best dividend stocks on our list, has been rewarding shareholders with regular dividends since 1997. It currently offers a quarterly dividend of $0.85 per share and has a dividend yield of 3.93%, as of Februart 23.Morgan Stanley (NYSE:MS) was a part of 56 hedge fund portfolios at the end of Q4 2023, compared with 59 in the previous quarter, as per Insider Monkey's database. The stakes owned by these hedge funds have a total value of over $2.72 billion.9. Becton, Dickinson and Company (NYSE:BDX)Upside Potential as of February 23: 16.5%Becton, Dickinson and Company (NYSE:BDX) is a global medical technology company that specializes in the development, manufacturing, and sale of medical devices, instrument systems, and reagents. The company adheres to stringent regulatory standards and quality management systems to ensure the safety and reliability of its medical devices, instruments, and reagents. This commitment to product safety aligns with ESG principles and contributes to positive health outcomes for patients.On January 23, Becton, Dickinson and Company (NYSE:BDX) declared a quarterly dividend of $0.95 per share, which was in line with its previous dividend. Overall, the company holds a 52-year streak of consistent dividend growth, which makes BDX one of the best environmental dividend stocks on our list. The stock's dividend yield on February 23 came in at 1.54%.At the end of December 2023, 60 hedge funds tracked by Insider Monkey reported having stakes in Becton, Dickinson and Company (NYSE:BDX), which showed growth from 57 in the previous quarter. The collective value of these stakes is over $2.57 billion.8. Realty Income Corporation (NYSE:O)Upside Potential as of February 23: 16.69%With an upside potential of nearly 17%, Realty Income Corporation (NYSE:O) is next on our list of the best dividend stocks. The American real estate investment trust company has been paying regular dividends to shareholders for the past 104 consecutive quarters. Moreover, it has raised its payouts for 29 years in a row. It currently pays a monthly dividend of $0.2565 per share and has a dividend yield of 5.81%, as of February 23.Realty Income Corporation (NYSE:O) is equally dedicated to conducting its business activities in a manner that respects and preserves the environment. As a publicly traded company, it recognizes its corporate responsibilities and strives to fulfill them for the betterment of our stakeholders, which include our shareholders, employees, and the communities we serve.Insider Monkey's database of Q4 2023 indicated that 28 hedge funds owned stakes in Realty Income Corporation (NYSE:O), up from 23 in the previous quarter. The total value of these stakes is over $332.5 million. Among these hedge funds, Millennium Management was the company's largest stakeholder in Q4.7. Microsoft Corporation (NASDAQ:MSFT)Upside Potential as of February 23: 16.8%An American multinational tech company, Microsoft Corporation (NASDAQ:MSFT) is dedicated to environmental sustainability and has set ambitious goals to reduce its carbon footprint and achieve carbon neutrality. Currently, the company pays a quarterly dividend of $0.75 per share and has a dividend yield of 0.73%, as of February 23. It is one of the best dividend stocks on our list as the company holds an 11-year streak of consistent dividend growth.According to Insider Monkey’s database of Q4 2023, 302 hedge funds in Insider Monkey’s database owned stakes in Microsoft Corporation (NASDAQ:MSFT), compared with 306 in the previous quarter. These stakes have a total value of over $87.3 billion.6. Archer-Daniels-Midland Company (NYSE:ADM)Upside Potential as of February 23: 17.04%Archer-Daniels-Midland Company (NYSE:ADM) ranks sixth on our list of the best environmental dividend stocks. The global food processing and commodities trading company recently achieved its 51st consecutive annual dividend growth. It currently pays a quarterly dividend of $0.50 per share and has a dividend yield of 3.74%, as of February 23.Archer-Daniels-Midland Company (NYSE:ADM) prioritizes sustainable sourcing of raw materials, including agricultural commodities such as soybeans, corn, and wheat. The company works with farmers and suppliers to promote sustainable agricultural practices, responsible land management, and biodiversity conservation.At the end of the fourth quarter of 2023, 34 hedge funds tracked by Insider Monkey reported having stakes in Archer-Daniels-Midland Company (NYSE:ADM), compared with 37 in the previous quarter. These stakes are collectively valued at nearly $820 million. Click to continue reading and see 5 Best Environmental Dividend Stocks To Invest In According To Analysts.  Suggested articles:12 Best Rising Penny Stocks To Buy12 Best Gold Stocks Under $2513 Best Buy-the-Dip Stocks To Buy Right NowDisclosure. None. 13 Best Environmental Dividend Stocks To Invest In According To Analysts is originally published on Insider Monkey.

Insider Monkey

13 Best Environmental Dividend Stocks To Invest In According To Analysts

https://finance.yahoo.com/news/13-best-environmental-dividend-stocks-141835353.html

3312bcf2-2bca-31b4-b94d-dae2c6990864

BDX

Becton, Dickinson and Company BDX, popularly known as BD, recently announced the enrollment of the first patient in the investigational device exemption (IDE) study, AGILITY, which aims to evaluate the efficacy and safety of the BD Vascular Covered Stent in treating peripheral arterial disease (PAD).The first patient in the AGILITY study was enrolled at Trinity Medical Center in Bettendorf, Iowa, by Dr. Nicolas Shammas, Interventional Cardiologist, Cardiovascular Medicine, PLLC.Price PerformanceFor the past six months, BDX’s shares have lost 13.6% against the industry’s rise of 2.8%. The S&P 500 increased 13.4% in the same time frame.Zacks Investment ResearchImage Source: Zacks Investment ResearchMore on the NewsThe Vascular Covered Stent, under investigation in the AGILITY study, is a low-profile, self-expanding nitinol implant enclosed in polytetrafluoroethylene. It is administered using a delivery mechanism that allows for regulated stent release.The global, prospective, multi-center, single-arm, non-randomized AGILITY clinical research, according to BD, will involve up to 40 clinical study sites spread across the United States, Europe, Australia, and New Zealand, and 315 patients. Every treated patient will have follow-up at different intervals following therapy, ranging from one month to three years.Per CDC, there are approximately 6.5 million people aged 40 years and older in the United States with PAD. Moreover, the global PAD patient population was 236 million per this article on National Library of Science. This population should have grown over the past years. It is a potentially severe illness that raises the risk of heart problems and amputation of a limb. Increased blood flow through the sick areas can be achieved with minimally invasive procedures using devices such as covered stents, drug-coated balloons, angioplasty balloons, and atherectomy.Industry ProspectsPer a report by Market Research Future, the global peripheral artery disease market size was valued at $2.5 billion in 2022 and is expected to reach more than $4.9 billion by 2032 at a growth rate of 7.8%.Story continuesThe market for peripheral artery diseases is expanding due to factors like the rapid increase in aging populations and the consequent rise in the prevalence of peripheral artery diseases, as well as an increase in product approvals.With the given market potential for peripheral artery disease, BD’s Vascular Covered Stent can play a major role in the treatment of PAD and help boost the company’s revenues.Notable DevelopmentsIn January 2024, BDX announced a strategic collaboration agreement with Techcyte. The tie-up aims to offer an artificial intelligence (AI)-based algorithm that guides cytologists and pathologists to identify evidence of cervical cancer and pre-cancer using whole-slide imaging efficiently and effectively.In the same month, the company announced its collaboration agreement with Hamilton, a leading global manufacturer of laboratory automation technology, to develop automated applications coupled with robotics-compatible reagent kitsto enable greater standardization and reduce human error when conducting large-scale single-cell multiomics experiments.In December 2023, BD announced the FDA 510(k) clearance for its novel blood collection device, MiniDraw. This revolutionary device is likely to reshape the landscape of diagnostic testing by offering a less invasive and more convenient method for obtaining lab-quality blood samples.Becton, Dickinson and Company PriceBecton, Dickinson and Company PriceBecton, Dickinson and Company price | Becton, Dickinson and Company QuoteZacks Rank & Stocks to ConsiderBDX carries a Zacks Rank #3 (Hold) at present.Some better-ranked stocks in the broader medical space that have announced quarterly results are Cencora, Inc. COR, Elevance Health, Inc. ELV and Cardinal Health, Inc. CAH.Cencora, carrying a Zacks Rank of 2 (Buy), reported first-quarter fiscal 2024 adjusted earnings per share (EPS) of $3.28, beating the Zacks Consensus Estimate by 14.7%. Revenues of $72.25 billion outpaced the consensus mark by 5%. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.Cencora has a long-term estimated growth rate of 8.6%. COR’s earnings surpassed estimates in all the trailing four quarters, the average surprise being 6.7%.Elevance Health reported fourth-quarter 2023 adjusted EPS of $5.62, beating the Zacks Consensus Estimate by 1.3%. Revenues of $42.45 billion outpaced the consensus mark by 1.5%. It currently carries a Zacks Rank #2.Elevance Health has a long-term estimated growth rate of 12%. ELV’s earnings surpassed estimates in all the trailing four quarters, the average surprise being 3.1%.Cardinal Health reported second-quarter fiscal 2024 adjusted EPS of $1.82, beating the Zacks Consensus Estimate by 16.7%. Revenues of $57.45 billion surpassed the Zacks Consensus Estimate by 1.1%. It currently carries a Zacks Rank #2.Cardinal Health has a long-term estimated growth rate of 15.9%. CAH’s earnings surpassed estimates in all the trailing four quarters, the average surprise being 15.6%.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 reportBecton, Dickinson and Company (BDX) : Free Stock Analysis ReportCardinal Health, Inc. (CAH) : Free Stock Analysis ReportCencora, Inc. (COR) : Free Stock Analysis ReportElevance Health, Inc. (ELV) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

BD (BDX) Initiates IDE Study to Aid Treatment of Artery Disease

https://finance.yahoo.com/news/bd-bdx-initiates-ide-study-132800118.html

00ef4900-c299-3cf4-951b-d10c7922f895

BDX

Insights into Becton Dickinson & Co's Dividend Sustainability and GrowthBecton Dickinson & Co (NYSE:BDX) recently announced a dividend of $0.95 per share, payable on 2024-03-29, with the ex-dividend date set for 2024-03-07. As investors look forward to this upcoming payment, the spotlight also shines on the company's dividend history, yield, and growth rates. Using the data from GuruFocus, let's look into Becton Dickinson & Co's dividend performance and assess its sustainability.What Does Becton Dickinson & Co Do?Warning! GuruFocus has detected 4 Warning Sign with BDX.High Yield Dividend Stocks in Gurus' PortfolioThis Powerful Chart Made Peter Lynch 29% A Year For 13 YearsHow to calculate the intrinsic value of a stock?Becton Dickinson is the world's largest manufacturer and distributor of medical surgical products, such as needles, syringes, and sharps-disposal units. The company also manufactures pre-filled devices, diagnostic instruments and reagents, as well as flow cytometry and cell-imaging systems. BD Medical is nearly half of the total business, while BD Life Sciences (27% of 2023 revenue) and BD Interventional (24%) account for the remainder. International revenue accounts for 43% of the company's business.Becton Dickinson & Co's Dividend AnalysisA Glimpse at Becton Dickinson & Co's Dividend HistoryBecton Dickinson & Co has maintained a consistent dividend payment record since 1972. Dividends are currently distributed on a quarterly basis.Becton Dickinson & Co has increased its dividend each year since 1972, earning it the title of a dividend kinga prestigious designation for companies with at least 52 consecutive years of dividend increases. Below is a chart showing annual Dividends Per Share for tracking historical trends.Breaking Down Becton Dickinson & Co's Dividend Yield and GrowthAs of today, Becton Dickinson & Co currently has a 12-month trailing dividend yield of 1.54% and a 12-month forward dividend yield of 1.59%, suggesting an expectation of increased dividend payments over the next 12 months.Story continuesOver the past three years, Becton Dickinson & Co's annual dividend growth rate was 4.80%. Extended to a five-year horizon, this rate decreased to 4.00% per year. And over the past decade, Becton Dickinson & Co's annual dividends per share growth rate stands at 5.90%. Based on Becton Dickinson & Co's dividend yield and five-year growth rate, the 5-year yield on cost of Becton Dickinson & Co stock as of today is approximately 1.87%.Becton Dickinson & Co's Dividend AnalysisThe Sustainability Question: Payout Ratio and ProfitabilityTo assess the sustainability of the dividend, one needs to evaluate the company's payout ratio. The dividend payout ratio provides insights into the portion of earnings the company distributes as dividends. A lower ratio suggests that the company retains a significant part of its earnings, thereby ensuring the availability of funds for future growth and unexpected downturns. As of 2023-12-31, Becton Dickinson & Co's dividend payout ratio is 0.40.Becton Dickinson & Co's profitability rank, offers an understanding of the company's earnings prowess relative to its peers. GuruFocus ranks Becton Dickinson & Co's profitability 7 out of 10 as of 2023-12-31, suggesting good profitability prospects. The company has reported positive net income for each year over the past decade, further solidifying its high profitability.Growth Metrics: The Future OutlookBecton Dickinson & Co's growth rank of 7 out of 10 suggests that the company's growth trajectory is good relative to its competitors.Revenue is the lifeblood of any company, and Becton Dickinson & Co's revenue per share, combined with the 3-year revenue growth rate, indicates a strong revenue model. Becton Dickinson & Co's revenue has increased by approximately 5.70% per year on average, a rate that underperforms approximately 57.26% of global competitors.The company's 3-year EPS growth rate showcases its capability to grow its earnings, a critical component for sustaining dividends in the long run. During the past three years, Becton Dickinson & Co's earnings increased by approximately 87.70% per year on average, a rate that underperforms approximately 4.83% of global competitors.Lastly, the company's 5-year EBITDA growth rate of 36.90%, which underperforms approximately 17.89% of global competitors.Next StepsIn conclusion, Becton Dickinson & Co's longstanding history as a dividend king, coupled with a moderate dividend yield and consistent growth in dividends per share, presents a compelling case for value investors. The company's low payout ratio and robust profitability rank underscore the sustainability of its dividends. However, while Becton Dickinson & Co exhibits good growth prospects, its performance in revenue and earnings growth rates suggests room for improvement when compared to some global competitors. Investors considering Becton Dickinson & Co for its dividend attributes should also weigh these growth metrics to make an informed decision. For those seeking additional high-dividend yield opportunities, GuruFocus Premium users can explore using the High Dividend Yield Screener.This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.This article first appeared on GuruFocus.

GuruFocus.com

Becton Dickinson & Co's Dividend Analysis

https://finance.yahoo.com/news/becton-dickinson-cos-dividend-analysis-100501527.html

b651eedf-595d-32a6-bbf3-fae18315330e

BEN

TORONTO, Feb. 22, 2024 /CNW/ - Franklin Templeton Canada today announced cash distributions for certain ETFs and ETF series of mutual funds available to Canadian investors.As detailed in the table below, unitholders of record as of March 01, 2024, will receive a per-unit cash distribution payable on March 08, 2024.Fund NameTickerTypeCash Distribution Per Unit($)Payment FrequencyFranklin Brandywine Global Sustainable Income Optimiser Fund – ETF SeriesFBGO Active0.087808MonthlyFranklin ClearBridge Sustainable Global Infrastructure Income Fund – ETF Series  FCII Active0.053907MonthlyFranklin Bissett Ultra Short Bond Fund – ETF SeriesFHIS Active0.060082MonthlyFranklin Bissett Corporate Bond Fund – ETF SeriesFLCI Active0.066540MonthlyFranklin Bissett Core Plus Bond Fund – ETF SeriesFLCP Active0.049906MonthlyFranklin Global Core Bond Fund – ETF SeriesFLGA Active0.035572MonthlyFranklin Global Dividend Quality Index ETFFLGD Smart Beta 0.016367MonthlyFranklin Bissett Short Duration Bond Fund – ETF SeriesFLSD Active0.061568MonthlyFranklin Western Asset Core Plus Bond Fund – ETF SeriesFWCP Active0.050792MonthlyAs detailed in the table below, unitholders of record as of March 18, 2024, will receive a per-unit cash distribution payable on March 25, 2024.Fund NameTickerTypeCash Distribution Per Unit ($)Payment FrequencyFranklin FTSE U.S. Index ETFFLAM Passive0.074481QuarterlyFranklin FTSE Canada All Cap Index ETFFLCD Passive0.184905QuarterlyFranklin U.S. Large Cap Multifactor Index ETF  FLUS Smart Beta  0.059215QuarterlyFranklin Templeton's diverse and innovative ETF platform was built to provide better client outcomes for a range of market conditions and investment opportunities. The product suite offers active, smart beta and passive ETFs that span multiple asset classes and geographies. For more information, please visit franklintempleton.ca/etf.Story continuesAbout Franklin TempletonFranklin Resources, Inc. [NYSE:BEN] is a global investment management organization with subsidiaries operating as Franklin Templeton and serving clients in over 150 countries. In Canada, the company's subsidiary is Franklin Templeton Investments Corp., which operates as Franklin Templeton Canada. Franklin Templeton's mission is to help clients achieve better outcomes through investment management expertise, wealth management and technology solutions. Through its specialist investment managers, the company offers specialization on a global scale, bringing extensive capabilities in fixed income, equity, alternatives and multi-asset solutions. With more than 1,400 investment professionals, and offices in major financial markets around the world, the California-based company has over 75 years of investment experience and approximately US$1.6 trillion (approximately CAN$2.2 trillion) in assets under management as of January 31, 2024. For more information, please visit franklintempleton.ca and connect with Franklin Templeton on X (formerly known as Twitter), Facebook and LinkedIn, and read the Beyond Bulls & Bears blog.Commissions, management fees and expenses all may be associated with investments in ETFs and ETF series. Investors should carefully consider an ETF's and ETF series' investment objectives and strategies, risks, fees and expenses before investing. The prospectus and ETF facts contain this and other information. Please read the prospectus and ETF facts carefully before investing. ETFs and ETF series trade like stocks, fluctuate in market value and may trade at prices above or below their net asset value. Brokerage commissions and ETF and ETF series expenses will reduce returns. ETFs and ETF series are not guaranteed, their values change frequently, and past performance may not be repeated.Copyright © 2024. Franklin Templeton. All rights reserved.SOURCE Franklin Templeton Investments Corp.CisionView original content: http://www.newswire.ca/en/releases/archive/February2024/22/c3364.html

CNW Group

Franklin Templeton Canada Announces ETF Cash Distributions

https://finance.yahoo.com/news/franklin-templeton-canada-announces-etf-210300426.html

155b80cf-ee9f-355b-b782-d6ac0c06eb64

BEN

(Adds executive comments in paragraphs 8-9, background in paragraphs 10-11)By Niket NishantFeb 26 (Reuters) - Blockchain technology start-up Avail said on Monday it had raised $27 million for its early-stage funding round led by billionaire Peter Thiel's Founders Fund and crypto investment firm Dragonfly Capital.Venture capital firms SevenX, Figment, Nomad Capital and others also participated in the round, according to Avail.Resurgence in the popularity of cryptocurrencies has rekindled interest in the technology underpinning the industry like blockchain, a digital ledger for recording and verifying transactions.With its promise of transparency, the technology has even found backers in the traditional finance industry. Financial services firm Franklin Templeton launched a mutual fund on a blockchain last year to speed up the settlements process and lower costs.Avail began in 2020 under crypto firm Polygon Labs, before being spun off last year. The company's technology allows customers to build their own blockchains quickly.The company is led by former Polygon executives Anurag Arjun and Prabal Banerjee. It did not disclose a valuation at which the latest funds were raised.The funds would be used for product development, hiring and marketing, Avail co-founder Arjun said.Arjun also highlighted the significance of the regulatory approval for spot bitcoin exchange-traded funds (ETFs) to the industry. The move could bring more awareness about the "cutting-edge technology" in the space, he said."Bitcoin is a flag-bearer of the space. For it to gain some sort of legitimacy in institutional and regulatory circles, drives capital to the industry and benefits start-ups like us," he said.The private fundraising environment has been muted so far, despite venture firms signing big checks for some artificial intelligence start-ups.Last year, $170.6 billion was invested across venture capital deals in the U.S., nearly 30% lower than the prior year, according to data from PitchBook. (Reporting by Niket Nishant in Bengaluru; Editing by Shounak Dasgupta and Pooja Desai)

Reuters

UPDATE 1-Avail raises $27 mln in funding backed by Peter Thiel's Founders Fund

https://finance.yahoo.com/news/1-avail-raises-27-mln-184943258.html

449b3afc-241d-3aa2-8fbe-f0975933d904

BEN

Bitcoin has recovered after prices plunged on Tuesday. (NurPhoto via Getty Images)Bitcoin has rebounded above the $67,000 (£52,541) mark after experiencing a price plunge following the digital asset's ascent to a new all-time high on Tuesday.The recovery comes as BlackRock's iShares Bitcoin ETF (IBIT) bought bitcoin's brief dip. The fund took in over $778m worth of bitcoin (BTC) on Tuesday. BlackRock's total inflows into bitcoin via its exchange-traded fund (ETF) has now surpassed the $9bn mark.Read more: Crypto live pricesThe US Securities and Exchange Commission (SEC) approved the first US-listed ETFs to track bitcoin (BTC-USD) in January. A spot bitcoin ETF is a financial product that investors anticipate could open the gateway for mainstream capital to flood the crypto market.Currently, the indications are favourable, with fund managers, such BlackRock (BLK) and Franklin Templeton (BEN), increasing their allocations into the digital asset.In the past 24 hours, the largest digital asset by market capitalisation has traded flat, changing hands for $66,675, as of the time of writing.This influx of capital from the traditional finance sphere into spot bitcoin ETFs is acting as a major price catalyst for the digital asset, but it is not the only one. The consensus among analysts is that the upcoming 'bitcoin halving' could continue to drive inflows into the bitcoin market.Read more: Bitcoin success with SEC fuels anticipation for ether spot ETFThe bitcoin halving is an event that happens about every four years and is expect to happen again this April. The halving will reduce the bitcoin reward that miners receive for validating blocks on the blockchain from the current 6.25 BTC to 3.125 BTC. This could act as a supply crunch for the digital asset, potentially leading to a price appreciation.Watch: AI needs blockchain technology to become more secure and democratic, analyst says | Future FocusDownload the Yahoo Finance app, available for Apple and Android.

Yahoo Finance UK

Bitcoin recovers after BlackRock shows faith

https://finance.yahoo.com/news/bitcoin-price-blackrock-spot-etf-crypto-cryptocurrency-102023443.html

750fcf8c-500c-4729-8d1d-1cc0218a4993

BEN

SAN MATEO, Calif., March 11, 2024--(BUSINESS WIRE)--Franklin Resources, Inc. (Franklin Templeton) (NYSE: BEN) today reported preliminary month-end assets under management (AUM) of $1.62 trillion at February 29, 2024, compared to $1.60 trillion at January 31, 2024. This month's increase in AUM reflected the impact of positive markets and long-term net inflows inclusive of the previously disclosed $5.5 billion in the retirement channel, partially offset by a fixed income institutional client redemption of $2.0 billion.By Asset Class:(In USD billions)Preliminary29-Feb-2431-Jan-2431-Dec-2330-Sep-2328-Feb-23Fixed Income$564.3$565.9$511.7$483.1$502.4Equity572.8550.9467.5430.4431.9Alternative256.4256.4256.2254.9256.3Multi-Asset162.5160.6154.6145.0144.2Long Term:1,556.01,533.81,390.01,313.41,334.8Cash Management66.368.165.560.881.7Total$1,622.3$1,601.9$1,455.5$1,374.2$1,416.5About Franklin TempletonFranklin Resources, Inc. [NYSE:BEN] is a global investment management organization with subsidiaries operating as Franklin Templeton and serving clients in over 150 countries. Franklin Templeton’s mission is to help clients achieve better outcomes through investment management expertise, wealth management and technology solutions. Through its specialist investment managers, the company offers specialization on a global scale, bringing extensive capabilities in fixed income, equity, alternatives, and multi-asset solutions. With more than 1,300 investment professionals, and offices in major financial markets around the world, the California-based company has over 75 years of investment experience. The company posts information that may be significant for investors in the Investor Relations and News Center sections of its website, and encourages investors to consult those sections regularly. For more information, please visit investors.franklinresources.com.Forward-Looking StatementsThe financial results in this press release are preliminary. Some of the statements herein may include forward-looking statements that reflect our current views with respect to future events, financial performance and market conditions. Such statements are provided under the "safe harbor" protection of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include all statements that do not relate solely to historical or current facts and generally can be identified by words or phrases written in the future tense and/or preceded by words such as "anticipate," "believe," "could," "depends," "estimate," "expect," "intend," "likely," "may," "plan," "potential," "preliminary," "seek," "should," "will," "would," or other - similar words or variations thereof, or the negative thereof, but these terms are not the exclusive means of identifying such statements.Story continuesForward-looking statements involve a number of known and unknown risks, uncertainties and other important factors that may cause actual results and outcomes to differ materially from any future results or outcomes expressed or implied by such forward-looking statements, including market and volatility risks, investment performance and reputational risks, global operational risks, competition and distribution risks, third-party risks, technology and security risks, human capital risks, cash management risks, and legal and regulatory risks. While forward-looking statements are our best prediction at the time that they are made, you should not rely on them and are cautioned against doing so. Forward-looking statements are based on our current expectations and assumptions regarding our business, the economy and other possible future conditions.Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. They are neither statements of historical fact nor guarantees or assurances of future performance. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them.These and other risks, uncertainties and other important factors are described in more detail in our recent filings with the U.S. Securities and Exchange Commission, including, without limitation, in Risk Factors and Management’s Discussion and Analysis of Financial Condition and Results of Operations in our Annual Report on Form 10-K for the fiscal year ended September 30, 2023 and our subsequent Quarterly Reports on Form 10-Q. If a circumstance occurs after the date of this press release that causes any of our forward- looking statements to be inaccurate, whether as a result of new information, future developments or otherwise, we undertake no obligation to announce publicly the change to our expectations, or to make any revision to our forward-looking statements, to reflect any change in assumptions, beliefs or expectations, or any change in events, conditions or circumstances upon which any forward-looking statement is based, unless required by law.View source version on businesswire.com: https://www.businesswire.com/news/home/20240311984266/en/ContactsFranklin Resources, Inc.Investor Relations: Selene Oh (650) 312-4091, selene.oh@franklintempleton.com Media Relations: Matt Walsh (650) 312-2245, matthew.walsh@franklintempleton.com investors.franklinresources.com

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Franklin Resources, Inc. Announces Month-End Assets Under Management

https://finance.yahoo.com/news/franklin-resources-inc-announces-month-200200150.html

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In this article, we are going to discuss the 15 best inexpensive tequilas under $40 that don’t taste bad. You can skip our detailed analysis of the global tequila market, the recent investment in tequila by a spirits giant, and sustainability in the tequila industry, and go directly to 5 Best Inexpensive Tequilas Under $40 that Don't Taste Bad. As a symbol of national pride, tequila represents a celebration of Mexico's rich culture. Although it has had a rocky history in the North American country, the spirit was granted legal status as early as 1944, when the Mexican government decided that any product labeled as ‘tequila’ must be made by distilling agave in Jalisco. These standards were laid out between 1944-1947, and they have been revised and upgraded since then. In 1978, tequila became the first Mexican product to receive an Appellation of Origin – a denomination that includes protected production areas, within the state of Jalisco, and limited municipalities in the states of Guanajuato, Michoacán, Nayarit, and Tamaulipas. To be classified as tequila, the liquor is required to have a minimum of 51% Blue Weber Agave in its composition, and must be bottled between 35% - 55% ABV. Global Tequila Market: Tequila is one of the Most Consumed Alcohols in the World. The global market of the popular liquor was valued at $14.7 billion in 2022, and is expected to reach $30.3 billion by 2028, with a CAGR of 12.3% during the forecast period. The growth in popularity of tequila can be attributed to a number of factors, including the expansion of the premium spirits market, the introduction of new flavors, and a greater social media presence. Tequila's popularity has been on the rise in the United States for years, and in 2021, it even surpassed whiskey in retail sales, making it the country’s second best-selling spirit behind vodka. According to the Distilled Spirits Council of the United States, tequila and mezcal revenue rose to $6 billion in 2022, an increase of 17.2% from the previous year. Story continuesAs we mentioned in our article – 20 Best Cheap Tequilas Under $50 for 2024 – 2022 was a record year for Mexico’s tequila exports, amounting to $3.6 billion between January and October – a 34.1% jump year-over-year. The tequila industry also attracts hordes of tourists to Jalisco each year, contributing hundreds of millions of dollars to the local economy and supporting over 70,000 jobsRecent Investment in Tequila: The Brown-Forman Corporation (NYSE:BF-B) announced in 2023 that it was investing approximately $200 million to expand its Casa Herradura tequila distillery in Jalisco, Mexico. The expansion will allow the Jack Daniel’s maker to meet the increasing global demand for its premium tequilas.The first phase will expand the water recycling and treatment plant, followed by the expansion of capacity for distilling, bottling, maturation, and processing. The Kentucky-based Brown-Forman champions Casa Herradura as having been a pioneer in establishing a water recycling and treatment plant that met government standards, while it is also one of the spirits giant’s zero waste to landfill sites. Casa Herradura, one of Mexico's most historic and renowned tequila producers, was acquired by the Brown-Forman Corporation (NYSE:BF-B) in 2007. The company has been harvesting, producing, and estate bottling tequilas from the small town of Amatitán in Jalisco, since 1870. The Brown-Forman Corporation (NYSE:BF-B) is placed among the Largest Alcohol Companies in the World in 2023.  Sustainability in the Tequila Industry: The modern consumer has become increasingly aware of the climate emergency we unfortunately find ourselves in, and actively seeks out sustainable brands, even if it means paying extra. So, as tequila makers find themselves in an increasingly competitive market, committing psychologically and economically to reducing their impact on the planet may also be the only means to make their businesses sustainable in the long run.Several tequila brands have incorporated a number of green initiatives into their supply chains to reduce their impact on the environment. It was announced last year that the Japanese spirit giant Beam Suntory Inc. has initiated a pilot program that aims to achieve net zero carbon emissions for its Casa Sauza tequila brand by 2030. The Jim Beam-owner plans to introduce plants that absorb carbon during the day in between rows of agave, which naturally absorb carbon during the night. The company says that the program could capture more than 36,800 tons of carbon per year if pulled off successfully. At Beam Suntory’s La Alteña Distillery, master distiller Carlos Camarena has also spearheaded the Bat‐Friendly Tequila Project to increase the natural resistance of the Blue Weber agave species against the threat of disease.Similarly, in 2021, Diageo plc (NYSE:DEO)’s Don Julio Tequila became the first brand to receive the Environmentally Responsible Agave (ARA) Certification from the Tequila Regulatory Council (CRT) and the Government of the State of Jalisco. The ARA certification’s purpose is to assure consumers that the tequila they are drinking has been manufactured in an environmentally responsible and sustainable manner with no deforestation in the production process.Moreover, Diageo plc (NYSE:DEO) has also established the Tequila Don Julio Fund, with a commitment of $1 million over the next four years to approved charities that support the communities that have helped build the iconic spirit into one of the Most Renowned Tequila Brands in the World. The Guinness-owner is also making efforts to actively involve more women in the otherwise male-dominated tequila sector, particularly in areas where they have been historically under-represented, like farming, engineering, and science. Today, 18% of the positions in Diageo’s tequila agriculture operations are occupied by women. This is all in line with the company’s Society 2030: Spirit of Progress plan that promotes sustainability from grain to glass.Diageo plc (NYSE:DEO) is counted among the Best Alcohol Stocks to Own According to Hedge Funds.With that said, here are the Best Tasting Tequilas Under $40. 15 Best Inexpensive Tequilas Under $40 that Don't Taste BadIgor Normann/Shutterstock.comMethodology:To collect data for this article, we referred to a number of sources, such as Liquor, VinePair, Men’s Journal, related Reddit threads etc., looking for the Best Tequilas Under $40. To make sure we give you only the best of the best, we picked tequilas that appeared multiple times in the aforementioned sources, assigned them a score based on their number of appearances, and ranked them accordingly. When two or more tequilas had the same score, we ranked them by the price (excluding tax) of their 750 ml bottles.Note: Prices have been sourced primarily from Wine-Searcher. As liquor prices can vary greatly across the United States, we cannot guarantee their accuracy. By the way, Insider Monkey is an investing website that tracks the movements of corporate insiders and hedge funds. By using a similar consensus approach, we identify the best stock picks of more than 900 hedge funds investing in US stocks. The top 10 consensus stock picks of hedge funds outperformed the S&P 500 Index by more than 140 percentage points over the last 10 years (see the details here). Whether you are a beginner investor or professional one looking for the best stocks to buy, you can benefit from the wisdom of hedge funds and corporate insiders.15. Cazadores BlancoInsider Monkey Score: 3Price: $24Cazadores Blanco is tequila in its purest form, without aging, allowing the intensity and real flavors of agave to stand out. With its distinct, herbaceous, and slightly sweet taste, the Cazadores Blanco Tequila is one of the Best Cheap Tequilas for Shots.One of the oldest and highest quality tequila brands worldwide, Cazadores is made from 100% Blue Agave, requiring a fully sustainable and zero-waste seven-step production process overseen and crafted by a Maestro Tequilero. The brand was acquired by Bacardi Limited in 2002. 14. Lunazul Añejo Insider Monkey Score: 4Price: $29Expertly aged in ex-Bourbon barrels for 12 to 18 months, the Lunazul Anejo tequila offers a bold and robust sipping experience. Made from 100% agave, this expression is full-bodied and subtly sweet with hints of pepper.One of the Most Popular Tequila Brands In The World, Lunazul is distilled and bottled with 100% Blue Agave at the Tierra de Agaves Distillery in Tequila, Jalisco. A nationally distributed brand, Lunazul was founded by Francisco Beckmann, a seventh generation descendent of the Cuervo-Beckmann family, the oldest dynasty of tequila producers.13. Olmeca Altos ReposadoInsider Monkey Score: 4Price: $28The perfect drink to kick back and relax, Altos Reposado is made from 100% Blue Agave grown in the state of Jalisco, and is aged for six to eight months in barrels once used for whiskey, adding a unique flavor to every sip. Olmeca Altos Reposado is one of the Best Tequilas Under $40 on Reddit. 12. Familia Camarena ReposadoInsider Monkey Score: 5Price: $23Aged in oak barrels for 60 days, this award-winning tequila is soft and smooth on the palate imparting flavors of vanilla and caramel. The 100% Blue Agave Camarena Reposado tequila rests in American oak barrels for 60 days before bottling.It was recently announced that Familia Camarena has formed a partnership with Confederation of North, Central America, and Caribbean Association of Football (Concacaf) as the official tequila of the 2024 and 2025 Concacaf Champions Cup, a revamped version of the region’s premier club championship that kicked off on February 6th. 11. Pueblo Viejo Reposado Insider Monkey Score: 5Price: $20Pueblo Viejo has been crafted with love and dedication since 1886, combining time-honored techniques with innovative advancements to create a truly exceptional spirit. Aged for at least eleven months in oak, the Pueblo Viejo Reposado is a sweet and smooth tasting tequila – a great option for people looking for the Best Tequilas Under $30. 10. Espolòn BlancoInsider Monkey Score: 6Price: $29Created in the highlands of Jalisco as a tequila for the people, Espolon Tequila Blanco is inspired by and a tribute to Mexican culture. Handcrafted with 100% Blue Weber Agave, the liquor is double distilled using column and pot stills to give it a smooth and balanced taste profile. Owned by the Campari Group, Espolòn is one of the Most Popular Tequilas Under $40, boasting sales of 1.1 million 9-liter cases in 2022, an increase of 19.8% from the previous year. 9. El Jimador Tequila SilverInsider Monkey Score: 6Price: $26Young and fresh, El Jimador Silver tequila steps up with truly authentic character. It’s made with 100% hand-harvested Blue Weber agave and double distilled with sparkling clarity. Part of The Brown-Forman Corporation since 2007, El Jimador Tequila is crafted using 100% Blue Agave and fermented naturally with wild yeast produced by the fruit trees and agave plants surrounding the distillery. El Jimador achieved global sales of 1.7 million 9-liter cases in 2022.El Jimador Silver is included among the Best Cheap Tequilas Under $50 According to Reddit. 8. Suerte BlancoInsider Monkey Score: 7Price: $33Produced from 100% Tahona crushed Blue Weber Agave, Suerte Blanco is rested for a minimum of two months in stainless steel tanks prior to bottling. This remarkable tequila has been carefully handcrafted to appeal to today's modern drinker while maintaining a high level of authenticity. In December 2023, Suerte Tequila announced the expanded distribution of its new canned cocktail collection featuring 100% pure Blue Weber Agave tequila, bringing the same quality and craftsmanship to its cans as it does to its bottles. 7. Espolòn ReposadoInsider Monkey Score: 7Price: $31Made from 100% Blue Weber agave, this tequila starts off life as Blanco, and is then rested in lightly charred, new American oak barrels to create a more complex and well-rounded character unique to Espolòn. Espolòn produces tequila from 100% Blue Weber Agave grown in the ‘Golden Triangle’ in Jalisco’s Los Altos highlands. In 2022, the brand also launched Espolòn Cristalino - a super-premium, aged tequila and one of the last passion projects of the legendary Maestro Tequilero Cirilo Oropeza before his passing in 2020.6. Tres Agaves BlancoInsider Monkey Score: 9Price: $32Bottled as soon as it is distilled, Tres Agaves Blanco Tequila is sourced from 100% organic agave that's grown in the Tequila Valley and slowly roasted to perfection. This award-winning tequila earned 92 Points from the Ultimate Spirits Competition and the title of Best Tequila for Margaritas at the Ultimate Cocktail Competition. Tres Agaves is an organic line of tequilas and mixers that was founded by Barry Augus in 2008.  Its range includes Margarita, Bloody Mary, and agave nectar cocktail mixers, as well as ready-to-drink cocktails and several tequilas. The brand was acquired by Trinchero Family Estates in 2020. Being pure, unaged, and of such high quality at this price point, the Tres Agaves Blanco sits among the Cleanest Tasting Cheap Tequilas in 2024. Click to continue reading and see the 5 Best Inexpensive Tequilas Under $40 that Don't Taste Bad. Suggested Articles:20 States that Drink the Most Tequila20 Fastest-Growing Spirit Brands in the World16 Best Inexpensive Whiskeys Under $40 that Don’t Taste CheapDisclosure: None. 15 Best Inexpensive Tequilas Under $40 that Don't Taste Bad is originally published on Insider Monkey.

Insider Monkey

15 Best Inexpensive Tequilas Under $40 that Don’t Taste Bad

https://finance.yahoo.com/news/15-best-inexpensive-tequilas-under-083117399.html

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BF.B

In this article, we are going to discuss the 25 best whiskeys in the world in 2024. You can skip our detailed analysis of the global whiskey market, the dawn of the American single malt, and the recent acquisition in the whiskey industry, and go directly to the 10 Best Whiskeys in the World in 2024. Whiskey has been the drink of choice for many Americans since time immemorial, a constant companion as they have gone through life changing and trend setting phases throughout history. Its rise in the country was due in large part to the fact that it didn’t have to be imported. Unlike rum, which was made from sugarcane and molasses shipped from British-controlled islands in the Caribbean to distilleries in New England, whiskey could be distilled anywhere in America from domestically sourced raw ingredients. Corn, in particular, was plentiful in the New World. In fact, during the time of Andrew Jackson, it was believed that God had made corn for America and Americans for corn. Thus, they naturally thought of whiskey as their national drink.Global Whiskey Market: Whiskey is one of the Most Consumed Alcohols in the World, with the global whiskey market valued at $64 billion in 2022 and expected to reach $91.3 billion by 2028, with a CAGR of 6% during the forecast period. The consumption of alcohol is shifting away from beer and wine and millennials are more likely to experiment with other alcoholic beverages, resulting in the growth of a ‘cocktail culture’. As a result of this tendency, the use of whiskey as a premium ingredient has increased. Product innovations, such as flavored whiskeys, and organic and sustainable options are also some of the major factors propelling the market. 2022 was also a great year for Scotch whisky, and exports of Scotland’s native spirit hit $7.5 billion last year, the highest figures ever. Exports by volume rose substantially as well, with the number of 700 ml bottles shipped overseas up by 21%, to 1.67 billion.Story continuesSimilarly, as we mentioned in our article – 25 Best Bourbon Whiskeys Under $50 – Bourbon is a $9 billion signature industry in Kentucky that generates more than 22,500 jobs. And if we’re looking at production and consumption, the state receives more than $286 million in tax revenue each year from its iconic whiskey. The positive economic impact of the beloved golden liquor is something we seldom consider when having a drink, but, given the facts, maybe it’s time we all raised a glass to it.The Dawn of the American Single Malt: Bourbon has long held the title of America’s national spirit, but the American single malt is now the fastest growing whiskey category in the United States. Although distillers in the U.S. have been producing single malt for only three decades, the category has already achieved a significant milestone last year – an imminent legal definition, furnished by the Alcohol and Tobacco Tax and Trade Bureau. Today there are more than 200 different expressions of American single malt whiskey from more than 100 distilleries. In 2023, The Brown-Forman Corporation (NYSE:BF-B)-owned Jack Daniel’s also added the first American single malt to its ever-growing lineup of Tennessee whiskey, proof of just how far this still lesser known category has come. And last October, Jack just announced another version of it. The initial single malt was called Jack Daniel’s Single Barrel Twice Barreled Special Release American Single Malt – as the name indicates, it was a single barrel expression released in limited quantities as part of the Jack Daniel’s Special Release Collection. This new Jack Daniel’s American Single Malt joins the permanent lineup, despite it only being available at airports.According to The Brown-Forman Corporation (NYSE:BF-B), a bottle of Jack Daniel’s Single Malt is priced at $100 for a 1 liter bottle, and while there are currently no plans to release it in domestic markets, that could change in the future. The Brown-Forman Corporation (NYSE:BF-B) ranks among the Largest Alcohol Companies in the World in 2023.Recent Acquisition in the Whiskey Industry: In August 2023, the brewing giant Molson Coors Beverage Company (NYSE:TAP) made its first spirits acquisition with the purchase of Bourbon and rye whiskey producer Blue Run Spirits. The Chicago-based beer company said that the deal marked another step in its ‘evolution’ into a total beverage company. Financial terms of the agreement were not disclosed. The addition of Blue Run expands Molson Coors Beverage Company (NYSE:TAP)’s footprint in spirits as it seeks to premiumise its portfolio. Furthermore, Molson Coors Beverage Company (NYSE:TAP) has established the Coors Spirits Co. to house its existing spirits business, which includes Five Trail Blended American Whiskey, Barmen 1873 Bourbon, and ‘future innovation’. Molson Coors Beverage Company (NYSE:TAP), which owns Coors Light and Miller Lite brands, is counted among the Best Alcohol Stocks to Own According to Hedge Funds. With that said, here are the Best Global Whiskeys in 2024. 25 Best Whiskeys in the World in 2024Photo by Adam Wilson on UnsplashMethodology: To collect data for this article, we have referred to a number of sources, such as Liquor, VinePair, Men’s Journal, related Reddit threads etc., looking for the Best Whiskeys to Buy in 2024. To make sure we give you the best of the best, we shortlisted whiskeys that appeared multiple times in the aforementioned sources, assigned them a score based on their number of appearances, and ranked them accordingly. When two whiskeys had the same score, we ranked them by the price (excluding tax) of their 750 ml bottles.Note: Prices have been sourced primarily from Wine-Searcher. As liquor prices can vary greatly across the United States, we cannot guarantee their accuracy.  By the way, Insider Monkey is an investing website that tracks the movements of corporate insiders and hedge funds. By using a similar consensus approach, we identify the best stock picks of more than 900 hedge funds investing in US stocks. The top 10 consensus stock picks of hedge funds outperformed the S&P 500 Index by more than 140 percentage points over the last 10 years (see the details here). Whether you are a beginner investor or professional one looking for the best stocks to buy, you can benefit from the wisdom of hedge funds and corporate insiders.25. Bowmore 15 Year Old Insider Monkey Score: 3Matured in a combination of Bourbon and sherry casks, Bowmore 15 Year Old Scotch Whisky has rich flavors of dried fruits, treacle toffee, and dark chocolate. Established in 1779, Bowmore is Islay's first distillery, crafting a collection of perfectly balanced single malt whiskies which defy expectations.Owned by Beam Suntory, Bowmore is included among the Best-Selling Scotch Whisky Brands in the World. 24. Nikka From the BarrelInsider Monkey Score: 3Nikka From The Barrel is a blended whisky created to deliver full flavors and richness of whisky ‘from barrels’ which only blenders can sniff and taste. Founded in 1934, Nikka has become one of the Most Popular Whiskey Brands in the World, producing a large range of single malt and blended whiskies between its two distilleries – Yoichi and Miyagikyo. 23. Henry McKenna Single Barrel Insider Monkey Score: 3Henry McKenna Single Barrel is the only extra aged Bottled-in-Bond Single Barrel Bourbon, indicating it meets exacting U.S. government standards for age and proof. This is one of the longest aged Bottled-in-Bond whiskeys available today, resting in the barrel through 40 Kentucky seasons.22. Four Roses 135th Anniversary Limited Edition Small Batch Insider Monkey Score: 4Bottled at 108 proof, Four Roses 2023 limited edition is an experience of subtle flavors and complex layers. Aromas of allspice, vanilla, and elegant oak mingle with a hint of cinnamon and clove on the nose. Acquired by the Japanese Kirin Holdings Company in 2002, Four Roses ranks among the Highest Quality Bourbon Brands in the US. 21. Russell’s Reserve 13 Year Old Insider Monkey Score: 4Bottled at 114.8 barrel proof, Russell’s Reserve 13 Year Old Bourbon is a distinctive sip, exhibiting sweet and woody notes that give way to rich flavors of honey, chocolate, and nougat throughout.This expression was first released in 2021 as a limited one time product. But with a very limited bottle count and Bourbon enthusiasts yearning for more, the company announced a second release along with declaring that it would become an annual limited release.20. Compass Box Hedonism Insider Monkey Score: 4Exclusively matured in American oak barrels, this delightful blended grain whisky is a smooth and creamy offering from Compass Box. For over 20 years, Compass Box has been relentlessly focused on reinventing Scotch whisky, with every new blend designed to help make the world of whisky a more interesting place. Compass Hedonism is included among the Best Whiskies to Drink in 2024. 19. Elijah Craig Barrel Proof Batch C923 Insider Monkey Score: 4To sip Barrel Proof is to experience Bourbon in its purest form – uncut, straight from the barrel, and without chill filtering. Aged for 12 years, Elijah Craig Barrel Proof is a bold and honest expression of what charred oak barrel aging can do for Bourbon, from the man who originated the process.Elijah Craig is credited as the first distiller to age his whiskey in charred oak barrels, earning his place in history as the 'Father of Bourbon'. The charred barrel transformed the clear liquid inside into an intense amber whiskey made rich with the flavors of the wood, which we now recognize as Bourbon. 18. Green Spot Insider Monkey Score: 4A non age statement Single Pot Still Irish Whiskey comprising pot still whiskeys aged between seven and ten years. This whiskey has been matured in a combination of new and refill Bourbon casks, as well as sherry casks. Part of Pernod Ricard since 1988, Green Spot is a return to the source of Irish whiskey.17. Jack Daniel’s Coy Hill Single Barrel Insider Monkey Score: 5Named after the highest-elevated rolling hill on the Jack Daniel Distillery property, this rare high-proof release honors the art of the whiskey-making process, as well as showcases how a barrel house location along with the extreme weather and maturation conditions produces an exceptional whiskey flavor. 16. Bunnahabhain 12 Year OldInsider Monkey Score: 5This 12 year old Islay single malt was the beginning of the Bunnahabhain core range, launched to fanfare and praise alike. Non-chill filtered and natural in color, this whisky boasts an alluring balance of sweet fruit, nuts, vanilla, and a delicate coastal influence.What makes Bunnahabhain unique is that even though it is located on the island of Islay, it focuses on creating non-peated whiskies, putting it more in competition with Speyside and other whisky regions than traditional Islay powerhouses. At around $67 a bottle, Bunnahabhain sits among the Best Whiskies in the World for the Money. 15. Pappy Van Winkle 15 Year Old Insider Monkey Score: 6One of the most coveted Bourbons on the market, this legendary expression is a testament to the artistry, patience, and unwavering commitment to quality that define the Pappy Van Winkle legacy. Another incredibly rare and Top Shelf Whiskey Brand produced at the Buffalo Trace distillery, Pappy Van Winkle has been admired by Bourbon connoisseurs for years thanks to its wheated mash bill. Though tens of thousands of new bottles are released each November, the secondary market for Pappy continues to soar, and in 2018, one bottle of Pappy Van Winkle Family Reserve 23-year-old Bourbon even began auctioning at $20,000. Pappy 15 is a Whiskey You Have to Try Before You Die. 14. GlenDronach Revival 15 Year Old Insider Monkey Score: 6The expression embodies The GlenDronach's signature style of Spanish Sherry Cask maturation in fine Pedro Ximénez and Oloroso sherry casks from Andalucía, quietly growing in stature for 15 years in the darkness of the distillery’s dunnage warehouses. Glendronach was purchased by Jack Daniel's producer Brown-Forman in 2016, along with its acquisition of The BenRiach Distillery Company.13. Aberlour A’bunadh Insider Monkey Score: 6Meaning ‘the original’ in Gaelic, A’bunadh is a whisky hand-made from start to finish with each batch being created to ensure a rich and complex flavor of moist raisin, and homemade fruit cake. Bottled at cask strength, this Speyside whisky is known for its robust and full-bodied character. Owned by Chivas Brothers, a subsidiary of Pernod Ricard, Aberlour is among the Best-Selling Scotch Single Malts. The brand’s single malts are made from expertly crafted new spirit, usually double cask matured for at least 12 years in the finest hand-picked Oloroso Sherry butts and American Oak casks. Aberlour was actually Pernod Ricard's first Scotch whisky distillery purchase. Aberlour A'Bunadh, with its cask strength intensity, is ranked among the Best Whiskies to Drink Straight. 12. Loch Lomond 18 Year Old Insider Monkey Score: 6Named Whisky of the Year 2024 by Whisky Exchange, this single malt has been matured in three types of American oak casks for 18 years, creating its full-bodied and fruity character. A perfect representation of Loch Lomond’s signature style, this whisky is bottled at 46% and non-chill filtered to keep things as nature intended. 11. Talisker 10 Year Old Insider Monkey Score: 6Aged for a minimum of 10 years in American oak casks, this welcome member of Diageo's Classic Malts series has been recognised numerous times for its excellence. The Talisker 10 bagged a gold medal at the San Francisco World Spirits Competition 2017, and was also awarded 'Best Islands Single Malt' at the 2017 World Whiskies Awards.Established in 1830, Talisker whisky has been made by the sea in the oldest Single Malts Scotch Whisky distillery on the shores of the Isle of Skye. This Top Whisky Brand was acquired by the Distillers Company in 1925 and is now part of Diageo.Click to continue reading and see the 10 Best Whiskeys in the World in 2024. Suggested Articles:15 Top Rated Bourbon Whiskeys Under $10016 Best Inexpensive Whiskeys Under $40 that Don’t Taste Cheap25 Best Bourbon Whiskeys Under $Disclosure: None. 25 Best Whiskeys in the World in 2024 is originally published on Insider Monkey.

Insider Monkey

25 Best Whiskeys in the World in 2024

https://finance.yahoo.com/news/25-best-whiskeys-world-2024-191403827.html

fc398c94-760e-3073-b39f-5182a83875d3

BF.B

Net Sales: Q3 reported net sales decreased 1% to $1.1 billion, with a 2% decline on an organic basis.Operating Income: Reported operating income for Q3 soared by 116% to $373 million, a 5% increase on an organic basis.Earnings Per Share (EPS): Q3 diluted EPS jumped 189% to $0.60.Gross Margin: Year-to-date gross margin expanded by 250 basis points to 60.9%.Share Repurchase: Completed a $400 million share repurchase program as of December 31, 2023.Dividend: Declared a quarterly cash dividend of $0.2178 per share, marking 80 consecutive years of dividends.Fiscal 2024 Outlook: Organic net sales expected to be flat, with organic operating income growth projected in the 0% to 2% range.Warning! GuruFocus has detected 4 Warning Signs with BF.B.On March 6, 2024, Brown-Forman Corp (NYSE:BF.B) released its 8-K filing, detailing the financial outcomes for the third quarter and the first nine months of fiscal year 2024. The company, known for its premium distilled spirits, including the iconic Jack Daniel's, faced a slight downturn in net sales but demonstrated a robust increase in operating income and earnings per share (EPS).Brown-Forman Corp (NYSE:BF.B) is a leading name in the alcoholic beverages industry, with a portfolio that includes the famous Jack Daniel's Tennessee whiskey, Woodford Reserve, and Old Forester bourbons, as well as a selection of tequila, vodka, rum, gin, and premium wines. With a strong presence in the United States, which accounts for 47% of its sales, the company also enjoys significant international reach, particularly in Europe, Australia, and Latin America.Financial Performance and Market ChallengesThe company's performance in Q3 saw a slight decrease in net sales, attributed to a mix of market dynamics, including declines in Developed International markets and the United States. However, this was partially offset by growth in Emerging markets and the Travel Retail channel. Notably, the recently acquired brands Gin Mare and Diplomatico contributed positively to the Rest of Portfolio's sales growth.Story continuesDespite the sales dip, Brown-Forman's ability to expand its gross margin and execute strategic priorities led to a significant increase in operating income. The company's resilience in the face of industry normalization and uncertainty underscores the importance of its strategic investments and agile response to market conditions.Financial Achievements and ImportanceThe impressive growth in operating income and EPS is a testament to Brown-Forman's financial stewardship and operational efficiency. The expansion of the gross margin by 250 basis points to 60.9% reflects the company's focus on favorable price/mix and efficiency in managing supply chain disruptions and input costs. The completion of the $400 million share repurchase program further illustrates the company's commitment to delivering shareholder value.These financial achievements are particularly significant for a company in the Beverages - Alcoholic industry, where competition is intense, and margins can be pressured by various factors, including input costs and consumer preferences. Brown-Forman's ability to maintain and grow its margins while investing in brand support positions it well for long-term sustainable growth.Key Financial Metrics and CommentaryLawson Whiting, President and CEO of Brown-Forman, commented on the results:"In a year with significant uncertainty and complexity in the spirits industry, Brown-Forman has demonstrated continued resilience and agility following two years of double-digit organic net sales growth. As industry trends have normalized, we have expanded our gross margin, executed our strategic priorities, and invested behind the business. As we look to the end of the fiscal year, we remain confident in the strength of our portfolio and our ability to deliver long-term growth."Whiting's statement highlights the company's strategic focus and optimism despite the challenges faced in the current fiscal year.Analysis of Company's PerformanceBrown-Forman's performance in the third quarter and year-to-date reflects a mixed picture. While net sales have experienced a slight decline, the substantial growth in operating income and EPS indicates strong underlying profitability and cost management. The company's strategic acquisitions and brand investments are paying off, contributing to the overall positive financial health of the company.However, the tempered outlook for fiscal 2024, with flat organic net sales and modest operating income growth, suggests that Brown-Forman is not immune to the broader economic and industry headwinds. The company's ability to navigate these challenges while continuing to invest in its brands and maintain its dividend track record will be critical for sustaining its long-term growth trajectory.For more detailed insights and the latest updates on Brown-Forman Corp (NYSE:BF.B) and the alcoholic beverage industry, stay tuned to GuruFocus.com.Explore the complete 8-K earnings release (here) from Brown-Forman Corp for further details.This article first appeared on GuruFocus.

GuruFocus.com

Brown-Forman Corp (BF.B) Reports Mixed Fiscal 2024 Q3 Results; Updates Full-Year Outlook

https://finance.yahoo.com/news/brown-forman-corp-bf-b-181227493.html

3c167b4c-7e68-3067-b421-a9b2725feff3

BF.B

In this article, we are going to discuss the 25 highest quality whiskey brands in the US. You can skip our detailed analysis of the global whiskey market, the surge in American spirits exports, and sustainability in the American whiskey industry, and go directly to the 10 Highest Quality Whiskey Brands in the US. Whiskey has been the drink of choice for many Americans since time immemorial, a constant companion as they have gone through life changing and trend setting phases throughout history. Its rise in the country was due in large part to the fact that it didn’t have to be imported. Unlike rum, which was made from sugarcane and molasses shipped from British-controlled islands in the Caribbean to distilleries in New England, whiskey could be distilled anywhere in America from domestically sourced raw ingredients. Corn, in particular, was plentiful in the New World. In fact, during the time of Andrew Jackson, it was believed that God had made corn for America and Americans for corn. Thus, they naturally thought of whiskey as their national drink.Global Whiskey Market: Whiskey is one of the Most Consumed Alcohols in the World, with the global whiskey market valued at $64 billion in 2022 and expected to reach $91.3 billion by 2028, with a CAGR of 6% during the forecast period. The consumption of alcohol is shifting away from beer and wine and millennials are more likely to experiment with other alcoholic beverages, resulting in the growth of a ‘cocktail culture’. As a result of this tendency, the use of whiskey as a premium ingredient has increased. Product innovations, such as flavored whiskeys, and organic and sustainable options are also some of the major factors propelling the market. 2022 was also a great year for Scotch whisky, and exports of Scotland’s native spirit hit $7.5 billion that year, the highest figures ever. Exports by volume rose substantially as well, with the number of 700 ml bottles shipped overseas up by 21%, to 1.67 billion.Story continuesSimilarly, as we mentioned in our article – 20 Truly Extraordinary Whiskeys Under $75 – Bourbon is a $9 billion signature industry in Kentucky that generates more than 22,500 jobs. And if we’re looking at production and consumption, the state receives more than $286 million in tax revenue each year from its iconic whiskey. The positive economic impact of the beloved golden liquor is something we seldom consider when having a drink, but, given the facts, maybe it’s time we all raise a glass to it.Record Year for American Spirits: The U.S. spirits exports reached a record-high of $2.2 billion in 2023, up 8% compared to the previous year, according to an American Spirits Export Report released by the Distilled Spirits Council of the United States. American whiskey exports also increased by 9% over 2022 to reach a record $1.4 billion. Exports are continuing to rebuild after plummeting from the devastating retaliatory tariffs on American spirits imposed by the E.U. and the U.K. These tariffs were suspended two years ago and as a result,  American whiskey exports to the E.U. surged by more than 60%, climbing from $439 million in 2021 to $705 million in 2023. However, the European Union announced in December 2023 that it would continue the suspension of tariffs on American whiskeys in the steel and aluminum dispute for 15 months, until March 31st 2025. If no agreement is reached by then, the E.U. will reimpose its tariff on American Whiskeys at 50%, up from the previously imposed 25%.Sustainability in the American Whiskey Industry: The modern consumer has become increasingly aware of the climate emergency we unfortunately find ourselves in, and actively seeks out sustainable brands, even if it means paying extra. So, as American whiskey makers find themselves in an increasingly competitive market, committing psychologically and economically to reducing their impact on the planet may also be the only means to make their businesses sustainable in the long run.Diageo plc (NYSE:DEO) announced in 2021 that it has opened its first carbon neutral distillery in Lebanon, KY, for its popular brand Bulleit Bourbon. The 72,000 square-foot facility has the capacity to produce up to 10 million proof gallons per year powered by 100% renewable electricity, and is expected to avoid more than 117,000 metric tons of carbon emissions annually. Bulleit is the first and lead brand being produced at the Lebanon Distillery that supplements existing production at the nearby Bulleit Distilling Co. in Shelbyville, KY, for which the spirits giant invested $115 million in 2017. Diageo plc (NYSE:DEO) announced a 10-year sustainability action plan in November 2020 – titled Society 2030: Spirit of Progress – which aims to achieve net-zero carbon emissions across direct operations and a 20% reduction in water used to produce every drink, while also working with suppliers in order to reduce indirect carbon emissions by 50%.. Diageo plc (NYSE:DEO) is placed among the Best Brewery and Distillery Stocks to Buy Now. With that said, here are the Top Whiskey Brands in America. 25 Highest Quality Whiskey Brands in the USBrent Hofacker/Shutterstock.comMethodology:To collect data for this article, we referred to a number of sources, such as Liquor, VinePair, Men’s Journal, Reddit etc., looking for the Best Whiskey Brands in the US. To make sure we only give you the best of the best, we picked brands that appeared multiple times in the aforementioned sources, assigned them a score based on their number of appearances, and ranked them accordingly.By the way, Insider Monkey is an investing website that tracks the movements of corporate insiders and hedge funds. By using a similar consensus approach, we identify the best stock picks of more than 900 hedge funds investing in US stocks. The top 10 consensus stock picks of hedge funds outperformed the S&P 500 Index by more than 140 percentage points over the last 10 years (see the details here). Whether you are a beginner investor or professional one looking for the best stocks to buy, you can benefit from the wisdom of hedge funds and corporate insiders.25. Stranahan’sInsider Monkey Score: 3Composed of 100% malted barley and cut with Eldorado Spring water, Stranahan's Colorado Whiskey is the number-one-selling and most-awarded American single malt. The Colorado-based brand’s expressions include Original, Blue Peak, Sherry Cask, Diamond Peak, Mountain Angel 10 Year Old, and the much-anticipated, limited-edition annual release, Snowflake. Founded in 2004, this pioneer of the American single malt was acquired by Proximo Spirits in 2010. 24. Angel’s EnvyInsider Monkey Score: 3Handcrafted in small batches, Angel’s Envy is an award-winning Kentucky straight Bourbon finished in port wine barrels. In 2022, the Kentucky-based craft distiller unveiled its completed $8.2 million Brand Home expansion at 500 E. Main St. in Louisville. The expansion, which adds 13,000 square feet to the facility, will allow Angel’s Envy to welcome an additional 64,000 visitors each year, doubling annual guest capacity.23. BarrellInsider Monkey Score: 3Founded in 2013 by Joe Beatrice, Louisville-based Barrell Craft Spirits is the original, pre-eminent independent blender of unique, aged, cask strength whiskey and rum. Sold in 49 states around the country, Barrell’s small-batch and single-barrel releases have quickly become an influencing force in American whiskey.22. WhistlePigInsider Monkey Score: 4Located off the grid on a 500-acre Vermont farm, WhistlePig is crafted by a new generation of distillers and blenders driven to reinvent and unlock the potential of whiskey – Rye and beyond. Founded in 2008 by Raj Peter Bhakta, WhistlePig is now the most awarded rye whiskey maker in the world. LVMH’s Moët Hennessy acquired a minority stake in WhistlePig for an undisclosed amount in 2020.21. Buffalo TraceInsider Monkey Score: 4Ancient buffalo carved paths through the wilderness that led American pioneers and explorers to new frontiers. One such trail led to the banks of the Kentucky River where Buffalo Trace Distillery has been making Bourbon whiskey the same way for more than 200 years.Acquired by the Sazerac Company in 1992, Buffalo Trace is counted among the Most Popular American Whiskeys. 20. Evan WiliamsInsider Monkey Score: 4This smooth, easy-to–drink Bourbon is among the largest-selling Kentucky Straight Bourbon whiskey in the U.S. The Even Williams brand is owned by the family-owned Heaven Hill Distillery. 19. Wild TurkeyInsider Monkey Score: 5For over 60 years, Wild Turkey has been making 101 the same way, the right way! Aged in American White Oak barrels coated in the deepest alligator char, Wild Turkey 101 has an impossible-to-miss character. In 1980, Wild Turkey’s original owner, Austin Nichols & Co., was sold to the French spirits conglomerate Pernod Ricard for a reported $100 million. In 2009, the distillery changed hands again, when Italy’s Gruppo Campari acquired it for a staggering $575 million.18. Booker’sInsider Monkey Score: 5This Top American Whiskey is a fitting tribute to Booker Noe, legendary longtime master distiller for the Beam brands and founder of their Small Batch Bourbon Collection.Distilled in early 2003, Booker’s Rye is among the last barrels laid down by Noe in the final years of his life. Now ranked among the Best Bourbons in the World, the 136 uncut proof rye whiskey features heady oak and vanilla aromas with a nice finish of wintergreen and chocolate.17. Eagle RareInsider Monkey Score: 5Eagle Rare Kentucky Straight Bourbon Whiskey is masterfully crafted and carefully aged for no less than ten years. The rareness of this great breed of Bourbon is evident in its complex aroma, as well as the smooth and lingering taste.The Eagle Rare brand was acquired by The Sazerac Company in 1989, and is distilled and distributed by the Buffalo Trace Distillery in Kentucky. Eagle Rare sits among the Best Quality Whiskey Brands in America. 16. Knob CreekInsider Monkey Score: 6Knob Creek is a Kentucky Straight Bourbon whiskey owned by Beam Suntory and produced at the Jim Beam distillery in Clermont. In 2020, Beam Suntory released Knob Creek 12 Year Bourbon, a brand new addition to the Knob Creek lineup of ryes and Bourbons. Bottled at 100 proof with a robust 50% ABV, this full bodied Bourbon is a driving force in the Ultra-Premium Whiskey category.15. Woodford ReserveInsider Monkey Score: 6The art of making fine Bourbon first took place on the site of the Woodford Reserve Distillery, a National Historic Landmark, in 1812. Owned by The Brown-Forman Corporation (NYSE:BF-B),  the perfectly balanced taste of this Kentucky Straight Bourbon Whiskey comprises more than 200 detectable flavor notes, from bold grain and wood, to sweet aromatics, spice, fruit, and floral notes.With total sales of over $5 billion in 2022, The Brown-Forman Corporation (NYSE:BF-B) ranks among the Largest Alcohol Companies in the World in 2023. 14. Jack Daniel’sInsider Monkey Score: 6This is a whiskey that needs no introduction. With only the finest grains, pristine water from the Cave Spring Hollow, and mellowed drop-by-drop through sugar maple charcoal, Jack Daniel’s is a premium Tennessee whiskey owned by The Brown-Forman Corporation (NYSE:BF-B). With 5.43 million 9-liter cases sold in the U.S. in 2021, Jack Daniel’s is one of the Top-Selling Whiskey Brands in the US. 13. Old ForesterInsider Monkey Score: 7A truly rare and distinctive occasion took place in Louisville, Kentucky, in 1870. When George Garvin Brown sealed Bourbon in a bottle for the very first time, he did so knowing it would guarantee quality and consistency for Bourbon lovers everywhere. And nearly 150 years later, the Brown-Forman Corporation still watches over the production of every drop of Old Forester with that same care.Created in 1870, Old Forester is the only Bourbon continuously distilled and marketed by the founding family before, during, and after Prohibition. 12. Blanton’sInsider Monkey Score: 7Introduced in 1984, Albert Bacon Blanton’s namesake Bourbon was the first ever Single Barrel Bourbon sold commercially. Distilled at the Buffalo Trace Distillery in Frankfort, KY, this top quality whiskey is produced and marketed by the Sazerac Company.11. Michter’sInsider Monkey Score: 8Michter’s only became a brand in the 1990s but is now, despite deliberately keeping stocks low and releases in small batches, the fourth-fastest rising brand in the Bourbon market. Recently, a bottle of Michter’s 20-Year-Old luxury whiskey went for $27,500 at auction.Made from the highest quality American corn, the Michter’s US★1 Kentucky Straight Bourbon sits among the Best Bourbon Whiskeys Under $50. Michter’s ranks 11th in our list of Best American Whiskey Brands in 2024. Click to continue reading and see the 10 Highest Quality Whiskey Brands in the US. Suggested Articles:20 Best Scotch Whiskies Under $10025 Best Whiskeys in the World in 202415 Top Rated Bourbon Whiskeys Under $100Disclosure: None. 25 Highest Quality Whiskey Brands in the US is originally published on Insider Monkey.

Insider Monkey

25 Highest Quality Whiskey Brands in the US

https://finance.yahoo.com/news/25-highest-quality-whiskey-brands-191343544.html

d539e769-12ba-3b2c-a032-ac0ac957adf7

BG

Bunge Global SA (NYSE:BG) shareholders are probably feeling a little disappointed, since its shares fell 2.1% to US$88.54 in the week after its latest full-year results. Bunge Global reported US$60b in revenue, roughly in line with analyst forecasts, although statutory earnings per share (EPS) of US$14.87 beat expectations, being 9.4% higher than what the analysts expected. This is an important time for investors, as they can track a company's performance in its report, look at what experts are forecasting for next year, and see if there has been any change to expectations for the business. We've gathered the most recent statutory forecasts to see whether the analysts have changed their earnings models, following these results. See our latest analysis for Bunge Global earnings-and-revenue-growthTaking into account the latest results, the eleven analysts covering Bunge Global provided consensus estimates of US$56.6b revenue in 2024, which would reflect a small 5.0% decline over the past 12 months. Statutory earnings per share are expected to plunge 38% to US$9.52 in the same period. Before this earnings report, the analysts had been forecasting revenues of US$58.2b and earnings per share (EPS) of US$11.23 in 2024. The analysts seem less optimistic after the recent results, reducing their revenue forecasts and making a real cut to earnings per share numbers.It'll come as no surprise then, to learn that the analysts have cut their price target 5.9% to US$118. That's not the only conclusion we can draw from this data however, as some investors also like to consider the spread in estimates when evaluating analyst price targets. Currently, the most bullish analyst values Bunge Global at US$141 per share, while the most bearish prices it at US$90.00. These price targets show that analysts do have some differing views on the business, but the estimates do not vary enough to suggest to us that some are betting on wild success or utter failure.Story continuesOf course, another way to look at these forecasts is to place them into context against the industry itself. We would highlight that revenue is expected to reverse, with a forecast 5.0% annualised decline to the end of 2024. That is a notable change from historical growth of 11% over the last five years. By contrast, our data suggests that other companies (with analyst coverage) in the same industry are forecast to see their revenue grow 2.5% annually for the foreseeable future. So although its revenues are forecast to shrink, this cloud does not come with a silver lining - Bunge Global is expected to lag the wider industry.The Bottom LineThe biggest concern is that the analysts reduced their earnings per share estimates, suggesting business headwinds could lay ahead for Bunge Global. On the negative side, they also downgraded their revenue estimates, and forecasts imply they will perform worse than the wider industry. The consensus price target fell measurably, with the analysts seemingly not reassured by the latest results, leading to a lower estimate of Bunge Global's future valuation.Keeping that in mind, we still think that the longer term trajectory of the business is much more important for investors to consider. At Simply Wall St, we have a full range of analyst estimates for Bunge Global going out to 2026, and you can see them free on our platform here..Even so, be aware that Bunge Global is showing 1 warning sign in our investment analysis , you should know about...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.

Simply Wall St.

Earnings Beat: Bunge Global SA Just Beat Analyst Forecasts, And Analysts Have Been Updating Their Models

https://finance.yahoo.com/news/earnings-beat-bunge-global-sa-121203295.html

20be3f7e-47fd-30c8-aff9-cd3822b06f6a

BG

In this article, we will discuss the 10 stocks whose price targets were recently trimmed by analysts. If you want to see more such stocks on the list, go directly to Wall Street Analysts Just Trimmed Price Targets for These 5 Stocks.The frenzy in the stock market continues unabated on February 9 as the S&P 500 index achieved a significant milestone by surpassing the 5,000 mark, signaling heightened investor optimism and buoyancy in the market sentiment. This surge was fueled by a resurgence in the technology sector and optimism surrounding potential rate cuts by the Federal Reserve, which bodes well for corporate earnings outlooks. Notably, the latest revision in the US Consumer Price Index (CPI) underscored progress in taming inflation towards the end of 2023, providing additional impetus to the bullish sentiment. However, amidst the euphoria, concerns have been raised by strategists like BofA's Hartnett, who warned that stocks are nearing a threshold that could trigger a sell-off, urging caution among investors. Interestingly, amidst the fervor in equity markets, there has been a notable appetite for fixed-income assets, as highlighted by Allspring's Pacquement. This underscores a nuanced approach among investors, who are seemingly diversifying their portfolios amid the ongoing market rally. The sustained upward trajectory in stock prices, particularly in the tech-heavy Nasdaq 100, underscores the resilience and dominance of the technology sector in driving market gains. This relentless climb in stock prices reflects investor confidence in the prospects of major tech companies and their ability to deliver robust financial performance in the coming quarters.As the S&P 500 index crosses the historic threshold of 5,000 for the first time, investors are grappling with the decision of whether to jump into the market or remain on the sidelines. While financial advisers caution against placing undue importance on milestone moments like these, they also emphasize the importance of considering individual circumstances before making investment decisions. In light of this record-breaking milestone, it's crucial for investors to contextualize the significance of this event and carefully assess its implications. Market strategists and wealth advisers recommend a thoughtful approach to framing the decision-making process. Rather than reacting impulsively to the headline-grabbing news, investors are encouraged to evaluate their own financial goals, risk tolerance, and investment timeline to determine the most prudent course of action. Ultimately, the decision to invest or wait should be guided by a thorough understanding of one's own financial situation and objectives. While milestone moments in the market can capture attention, it's essential to maintain a disciplined approach to investing and avoid making decisions based solely on short-term market movements. By taking a comprehensive and strategic approach, investors can navigate market fluctuations with confidence and make informed choices that align with their long-term financial goals.Story continuesOn the stock market front, analysts are bearish on Alibaba Group Holding Limited (NYSE:BABA), Snap Inc. (NYSE:SNAP) and PayPal Holdings, Inc. (NASDAQ:PYPL) by trimming their price targets. Check out the complete article to see details of these stocks.Wall Street Analysts Just Trimmed Price Targets for These 10 StocksWall Street Analysts Just Trimmed Price Targets for These 10 Stocks10. The Walt Disney Company (NYSE:DIS)Price Reaction after the Price Target Cut: +11.40 (+11.50%)On February 8, Goldman Sachs analyst Brett Feldman made headlines by revising The Walt Disney Company (NYSE:DIS) price target downward by $5 to $120 per share while maintaining a buy rating for the company. This adjustment, although seemingly bearish on the surface, triggered an unexpected surge in market activity, with The Walt Disney Company (NYSE:DIS) stock price jumping by 11.50% compared to its previous closing price of $108.39. Investors' reaction to the news was notably positive, reflecting a sense of resilience and confidence in The Walt Disney Company (NYSE:DIS) future performance despite the revised target. The fact that Feldman maintained a buy rating suggests that he still sees significant potential for growth and value in The Walt Disney Company (NYSE:DIS) stock. This sentiment likely resonated with investors, who may have interpreted the price target adjustment as a buying opportunity rather than a cause for concern.The market's strong response to the news underscores the enduring appeal of The Walt Disney Company (NYSE:DIS) as a leading entertainment and media conglomerate. Despite facing challenges and uncertainties, particularly in the wake of the COVID-19 pandemic, The Walt Disney Company (NYSE:DIS) continues to be viewed favorably by investors who recognize its strong brand portfolio, diverse revenue streams, and innovative strategies for content creation and distribution. As such, the price target revision by Goldman Sachs served as a catalyst for renewed investor interest and optimism in Disney's future prospects.09. Dayforce Inc (NYSE:DAY)Price Reaction after the Price Target Cut: +0.67 (+0.97%)Similar to the negative outlook on Alibaba Group Holding Limited (NYSE:BABA), Snap Inc. (NYSE:SNAP), and PayPal Holdings, Inc. (NASDAQ:PYPL), analysts express pessimism towards Dayforce Inc (NYSE:DAY). On February 8, Barclays made headlines within the tech industry by reducing the price target for Dayforce Inc (NYSE:DAY), an emerging player in the software sector, by $1 from $75.00 to $74.00. Despite this downward adjustment, Barclays opted to maintain an Equal Weight rating for the stock, indicating a neutral stance. Surprisingly, the market's reaction to this news was relatively muted, with Dayforce Inc (NYSE:DAY) stock price experiencing only a marginal increase of 0.97% compared to its previous closing price of $70.69. While the reduction in price target could be interpreted as a cautious stance on Dayforce Inc (NYSE:DAY) growth prospects, Barclays' decision to maintain an Equal Weight rating suggests that they still see the company as fairly valued within its industry context. The market's modest response to the price target adjustment may reflect a degree of resilience among investors, who may view the revised target as reflective of current market conditions rather than a significant shift in Dayforce Inc (NYSE:DAY) long-term outlook. Additionally, Barclays' decision to maintain its rating could signal confidence in Dayforce Inc (NYSE:DAY) ability to navigate challenges and capitalize on opportunities in the competitive software market. Overall, while the price target cut by Barclays may have initially sparked some uncertainty, the market's subdued reaction suggests that investors remain cautiously optimistic about Dayforce Inc (NYSE:DAY) future trajectory. As the company continues to execute its strategic initiatives and navigate evolving market dynamics, investors will likely monitor closely for further developments that could impact its valuation and performance.08. Neurocrine Biosciences, Inc. (NASDAQ:NBIX)Price Reaction after the Price Target Cut: -1.87 (-1.37%)On February 8, Citigroup made waves within the biotech sector by revising down the target price for Neurocrine Biosciences, Inc. (NASDAQ:NBIX), a prominent player in the pharmaceutical industry. Citigroup's adjustment saw the target price decrease from $141.00 to $140.00, accompanied by a reaffirmation of a "neutral" rating for the stock. Despite this downward revision, the market's response to the news was relatively modest, with Neurocrine Biosciences, Inc. (NASDAQ:NBIX) stock price experiencing a slight decline of 1.37% compared to its previous closing price of $132.30. While the reduction in target price might indicate a more conservative outlook on Neurocrine Biosciences, Inc. (NASDAQ:NBIX) growth potential, Citigroup's decision to maintain a "neutral" rating suggests a balanced perspective on the stock's prospects within the biotech landscape. The market's subdued reaction to the target price cut could reflect a degree of resilience among investors, who may interpret the adjustment as a reflection of current market conditions rather than a significant alteration in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) long-term trajectory. Furthermore, Citigroup's decision to uphold its "neutral" rating could imply confidence in the company's ability to navigate challenges and capitalize on opportunities amidst the competitive pharmaceutical environment.Harding Loevner Global Small Companies Equity Strategy made the following comment about Neurocrine Biosciences, Inc. (NASDAQ:NBIX) in its Q3 2023 investor letter:“By sector, our returns in Health Care were positive but this was more than offset by poor Industrials stocks. Neurocrine Biosciences, Inc. (NASDAQ:NBIX) reported positive late-stage clinical study data for its treatment of congenital adrenal hyperplasia, a condition which causes the body to not produce enough cortisol, increasing the probability that the company can address a new estimated $1 billion market opportunity.”07. Azenta, Inc. (NASDAQ:AZTA)Price Reaction after the Price Target Cut: -1.01 (-1.55%)On February 8, Needham & Company LLC made an adjustment within the technology industry, particularly impacting Azenta, Inc. (NASDAQ:AZTA). The firm revised down the target price for Azenta, Inc. (NASDAQ:AZTA) from $76.00 to $75.00 while maintaining its "Buy" rating for the stock. Despite this downward revision, the market's reaction to the news was relatively restrained, with Azenta, Inc. (NASDAQ:AZTA) stock price experiencing a slight decline of 1.55% compared to its previous closing price of $65.13. While the reduction in target price might suggest a more cautious outlook on Azenta, Inc. (NASDAQ:AZTA) growth potential, Needham & Company LLC's decision to uphold its "Buy" rating indicates continued confidence in the stock's investment prospects within the technology sector. The market's muted response to the target price cut suggests that investors may view the adjustment as a minor adjustment rather than a significant shift in Azenta, Inc. (NASDAQ:AZTA) long-term trajectory. Furthermore, Needham & Company LLC's decision to maintain its "Buy" rating could signal optimism about Azenta's ability to navigate challenges and capitalize on opportunities in the competitive technology landscape.Polen Global SMID Company Growth Strategy made the following comment about Azenta, Inc. (NASDAQ:AZTA) in its first quarter 2023 investor letter:“Our most significant detractors from performance included Azenta, Inc. (NASDAQ:AZTA), Netcompany and Endava on both an absolute and relative basis.We sold out of Azenta, a company we bought in June 2022. The original buy thesis was that the company could grow organically at a high-teens rate per annum, expand operating margins, and deploy its $2.5B of cash opportunistically in either M&A or buybacks. Cash represented well over 50% of the company’s market capitalization at the time. It was our view that we had a company that was misunderstood given the transition from a Semiconductor company (Brooks Automation) to a Life Science company with great assets. Fundamental performance has been disappointing since our investment; the company pre-announced shortly after our initial purchase, blaming disruptions from China’s lockdowns, and dismissed their COO and a senior sales leader. In the ensuing quarters they reported organic revenue that disappointed with margins moving in the wrong direction. It’s possible that the management team fixes the issues and our sale is poorly timed, however there are plenty of high-quality businesses with attractive valuation elsewhere and we are choosing to deploy the capital where we have higher confidence in both management and a path to great returns.”06. Bunge Global SA (NYSE:BG)Price Reaction after the Price Target Cut: -1.45 (-1.65%)Just like Alibaba Group Holding Limited (NYSE:BABA), Snap Inc. (NYSE:SNAP) and PayPal Holdings, Inc. (NASDAQ:PYPL), analysts are bearish on Bunge Global SA (NYSE:BG). On February 8, BMO Capital Markets, operating within the agricultural industry, made adjustments affecting Bunge Global SA (NYSE:BG). The firm reduced Bunge Global SA (NYSE:BG) target price from $130.00 to $120.00 while maintaining an "Outperform" rating for the stock. Despite this downward revision, the market's response was relatively modest, with Bunge Global SA (NYSE:BG) stock price decreasing by 1.65% compared to its previous closing price of $88.45. While the reduction in target price might indicate a slightly more cautious outlook on Bunge Global SA (NYSE:BG) growth potential, BMO Capital Markets' continued endorsement of an "Outperform" rating suggests confidence in the stock's investment appeal within the agricultural sector. The market's subdued reaction to the target price adjustment suggests that investors may view it as a minor adjustment rather than a significant change in Bunge Global SA (NYSE:BG) long-term prospects. Furthermore, BMO Capital Markets' decision to uphold its "Outperform" rating could signal optimism about BG's ability to navigate market challenges and capitalize on opportunities in the dynamic agricultural industry. Overall, while BMO Capital Markets' downward revision of Bunge Global SA (NYSE:BG) target price may have initially influenced market sentiment, the relatively modest reaction indicates that investors remain relatively positive about the company's future prospects. As Bunge Global SA (NYSE:BG) continues to adapt to evolving market conditions and execute its strategic initiatives, investors will likely monitor for further developments that could impact the stock's valuation and performance.Click to continue reading and see Wall Street Analysts Just Trimmed Price Targets for These 5 Stocks.Suggested articles:12 Best Car Repair Stocks to Buy Now11 Best Asset Management Stocks to Buy Now13 Best American Tech Stocks To Buy According to AnalystsDisclosure: None. Wall Street Analysts Just Trimmed Price Targets for These 10 Stocks is originally published on Insider Monkey.

Insider Monkey

Wall Street Analysts Just Trimmed Price Targets for These 10 Stocks

https://finance.yahoo.com/news/wall-street-analysts-just-trimmed-151806884.html

f1562490-6b6a-3e06-8ec7-31d7e26bb3c1

BG

(Adds quotes, background)DUBAI, March 5 (Reuters) - BP Bunge Bioenergia, the second-largest sugarcane processor in Brazil, is not looking to offload assets, its CEO Geovane Consul said on Tuesday at a sugar conference in Dubai."We had in the past (interest in offloading assets). Today no more," he told reporters on the sidelines of the conference, adding the cash flow generated by the business was now satisfactory.Consul also said the company's priority was to expand its existing assets rather than acquire new ones."We're happy with what we have," he said.BP Bunge Bioenergia was formed in 2019 as a joint venture by British oil major BP and U.S. commodities trader Bunge Ltd.Consul cited that deal and the acquisition in 2021 by Brazil's Raizen of the sugar and ethanol until controlled by Louis Dreyfus as examples of recent industry consolidation."I think there is more to come," he said, adding he believed consolidation was good for the industry. (Reporting by Sarah El Safty, Editing by Louise Heavens and Louise Heavens)

Reuters

UPDATE 1-BP Bunge Bioenergia not looking to offload assets, CEO says

https://finance.yahoo.com/news/1-bp-bunge-bioenergia-not-093943079.html

47a65295-1c5e-37c7-a408-71b99f2c1af9

BG

Bunge Global SA BG, along with Chevron Corporation CVX, announced the approval of a final investment decision for the joint venture, Bunge Chevron Ag Renewables LLC, to develop a new oilseed processing plant. Building the new facility is a further step forward in BG's long-term strategy to scale up its capabilities for the renewable fuels industry while lowering carbon intensity.The processing facility intends to expand the joint venture’s scale and efficiencies, allowing the two companies to more effectively meet the growing market demand for renewable fuel feedstocks.The new plant will be close to the company's existing processing facility on the Gulf Coast in Louisiana. It has a flexible design that allows it to process soybeans as well as softseeds, including novel winter oilseed crops like winter canola and CoverCress. The factory will also serve the growing feed and protein markets by producing meal products.The plant is expected to be operational in 2026 and is likely to generate more than 150 construction jobs and 30 new positions.Bunge Chevron Ag Renewables focuses on producing renewable fuel feedstocks by combining BG's expertise in oilseed processing and farmer contacts with Chevron's expertise in renewable fuel production and marketing.BG reported fourth-quarter 2023 adjusted earnings of $3.70 per share, which surpassed the Zacks Consensus Estimate of $2.79. The bottom line improved 14% year over year. Net sales were $14.94 billion in the quarter under review, down 10.3% from the year-ago quarter. The top line beat the Zacks Consensus Estimate of $14.64 billion.Price PerformanceShares of Bunge Global have lost 5.7% over the past year against the industry's growth of 0.6%.Zacks Investment ResearchImage Source: Zacks Investment ResearchZacks Rank & Stocks to ConsiderBunge Global currently carries a Zacks Rank #4 (Sell).Some better-ranked stocks from the basic materials space are Ecolab Inc. ECL and Carpenter Technology Corporation CRS. Currently, ECL sports a Zacks Rank #1 (Strong Buy) and CRS carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.The Zacks Consensus Estimate for Ecolab’s 2024 earnings is pegged at $6.39 per share, indicating an increase of 22.7% from the prior year’s reported number. It has an average trailing four-quarter earnings surprise of 1.7%. ECL shares have gained 41.8% in a year.The Zacks Consensus Estimate for Carpenter Technology’s 2024 earnings is pegged at $4.00 per share. The consensus estimate for 2024 earnings has moved 1% north in the past 60 days. It has an average trailing four-quarter earnings surprise of 14.3%. CRS shares have gained 33.5% in a year.Story continuesWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free reportChevron Corporation (CVX) : Free Stock Analysis ReportEcolab Inc. (ECL) : Free Stock Analysis ReportBunge Global SA (BG) : Free Stock Analysis ReportCarpenter Technology Corporation (CRS) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

Bunge Global (BG) & Chevron to Build New Facility in Destrehan

https://finance.yahoo.com/news/bunge-global-bg-chevron-build-135600458.html

95a472d3-38b2-3b58-af6e-b0dbc8f0893a

BIIB

There's a growing field of competitors in the weight-loss drugs space, where Lilly and Novo currently dominate. Is Eli Lilly stock a buy?Continue reading

Investor's Business Daily

Is Eli Lilly Stock A Buy As Amgen Enters The Red-Hot Weight-Loss Ring?

https://finance.yahoo.com/m/75ad41f4-79f0-3b48-af19-38b6a6e1e059/is-eli-lilly-stock-a-buy-as.html

75ad41f4-79f0-3b48-af19-38b6a6e1e059

BIIB

In this piece, we will take a look at the 14 best beaten down stocks to buy right now. If you want to skip our coverage of the latest events in the stock market, then you can take a look at the 5 Best Beaten Down Stocks To Buy Right Now. The stock market of 2024 is vastly different from what investors were used to at the onset of the coronavirus pandemic and in its immediate aftermath. Before the pandemic, global stocks and the Chinese economy were performing quite well and there was a growing narrative that perhaps America's days as a global economy might be coming to an end, with up and comers the likes of China all ready to challenge U.S. dominance. Similarly, the stock market was used to low interest rates, and as the coronavirus stimulus packages and the monetary policy of that time showed, there was nowhere but up for stocks to go.Now, the environment is different. Not only have the major European economies of the U.K. and Germany entered into a recession, but it seems like the American economy still has a lot of juice left when it comes to leading the world. This is because Chinese economic ails simply refuse to go away, and the start of 2024 has also seen billions of dollars flow out of the country's equity markets as the prospects of a robust economic recovery appear to dim down.However, even though the American economy has been an exception for the last year or so, this doesn't mean that the future is clear. The start of the year saw stock market investors deal with the same set of challenges that they had become accustomed to in 2023. The two key stock market themes in 2024 are interest rates and artificial intelligence, and so far, they've turned out to be bearish and bullish indicators, respectively. While AI stocks such as NVIDIA Corporation (NASDAQ:NVDA) have already posted double digit percentage returns year to date, indexes such as the S&P 500 have pared back from their new all time records as inflation continues to be stubborn and the first rate cut dates from the Federal Reserve are still unclear.Story continuesOn the inflationary side, the latest data set to dent investor hopes for rapid rate cuts is the producer price index (PPI). This data set measures 'inflation out of the gate' i.e., the product prices as they leave factories and make their way to retailers. Naturally, it is a leading inflation indicator and higher PPI readings can hint at higher consumer prices down the road. For January 2024, the PPI rose by 0.9% annually and 0.3% monthly, which ended up overshooting economist estimates. Naturally, the markets weren't impressed, and as the data made rounds, major indexes registered significant drops, led by the tech heavy NASDAQ index that lost 82 basis points.Yet, an 82 basis point drop is still rather small when we consider some beaten down stocks that have marked significant drops. Two such beaten down stocks are the shares of the semiconductor firm Super Micro Computer, Inc. (NASDAQ:SMCI) and the ride sharing firm Lyft, Inc. (NASDAQ:LYFT). Starting from the former, Super Micro's shares had posted stunning triple digit percentage gains of 250% year to date as of February 15th, 2024. Then in the following days, they have dropped by 20% so far, making the stock quite an interesting case study for breakout and beaten down stocks. The Super Micro breakout took place as investors determined that it had successfully established itself as a key partner to NVIDIA and others. The beating took place after Wells Fargo & Company (NYSE:WFC) warned that while the firm has significant AI upside, this has already been priced into the shares.What about Lyft? Well, its shares soared by 57% after the latest earnings release but soon reversed the trend as management shared that the margin expansion estimate for 2024 will be 50 basis points instead of the 500 basis points that the official release had stated. Margin expansion means that Lyft earns more profit per dollar unit of sales, and naturally, the stock fell after the correction.So, if you're wondering about the best beaten down stocks to buy, we made such a list and the top names are Transocean Ltd. (NYSE:RIG), Twilio Inc. (NYSE:TWLO), and Biogen Inc. (NASDAQ:BIIB).14 Best Beaten Down Stocks To Buy Right NowA close-up of a laptop monitor with stock market prices scrolling up and down.Our Methodology To make our list of the best beaten down stocks, we first made a list of all stocks that have set a new 52 week low and have a market capitalization greater than $300 million. Then, they were ranked with their year to date share price performance, and the 40 stocks with the most percentage drops were chosen. Finally, this list of  beaten down stocks was re-ranked by the number of hedge funds that had bought the shares in Q4 2023, and the top stocks were chosen.For these best beaten down stocks, we used hedge fund sentiment. Hedge funds’ top 10 consensus stock picks outperformed the S&P 500 Index by more than 140 percentage points over the last 10 years (see the details here). That’s why we pay very close attention to this often-ignored indicator.Best Beaten Down Stocks To Buy Right Now14. Forward Air Corporation (NASDAQ:FWRD)Number of Hedge Fund Investors In Q4 2023: 27 52-Week Range: $39.16 - $121.38 Current Share Price: $39.27Forward Air Corporation (NASDAQ:FWRD) is an American freight and logistics company headquartered in Tennessee. 2024 is off to a turbulent start for the firm, as a slew of leadership changes has affected the very top and led to the appointment of a new CEO as well.By the end of December 2023, 27 out of the 933 hedge funds part of Insider Monkey's database had held a stake in Forward Air Corporation (NASDAQ:FWRD). Israel Englander's Millennium Management was the firm's biggest hedge fund investor since it owned $28.8 million worth of shares.Forward Air Corporation (NASDAQ:FWRD) joins Twilio Inc. (NYSE:TWLO), Transocean Ltd. (NYSE:RIG), and Biogen Inc. (NASDAQ:BIIB) in our list of the best beaten down stocks.13. Telephone and Data Systems, Inc. (NYSE:TDS)Number of Hedge Fund Investors In Q4 2023: 28 52-Week Range: $6.44 - $21.75 Current Share Price: $14.04Telephone and Data Systems, Inc. (NYSE:TDS) is an American telecommunications company that serves the needs business, regular people, and other customers. The shares are rated Buy on average, but earnings performance has been poor with EPS misses in three out of the four latest quarters.Insider Monkey's Q4 2023 survey of 933 hedge funds revealed that 28 were the firm's shareholders. Telephone and Data Systems, Inc. (NYSE:TDS)'s largest stakeholder in our database is Dan Loeb's Third Point due to its $39.2 million stake.12. Pacific Biosciences of California, Inc. (NASDAQ:PACB)Number of Hedge Fund Investors In Q4 2023: 28 52-Week Range: $5.68 - $14.55 Current Share Price: $5.74Pacific Biosciences of California, Inc. (NASDAQ:PACB) is a backend medical company that provides researchers and others with equipment and products used in operations such as gene sequencing. February 2024 has been a busy month for the firm, as not only did it announce a 113% annual revenue growth during the fourth quarter, but Pacific Biosciences of California, Inc. (NASDAQ:PACB) also announced a new line of products.By the end of last year's fourth quarter, 28 out of the 933 hedge funds profiled by Insider Monkey had bought and owned Pacific Biosciences of California, Inc. (NASDAQ:PACB)'s shares. Catherine D. Wood's ARK Investment Management was the biggest investor due to its $338 million investment.11. Yelp Inc. (NYSE:YELP)Number of Hedge Fund Investors In Q4 2023: 29 52-Week Range: $26.53 - $48.99 Current Share Price: $38.02Yelp Inc. (NYSE:YELP) is a popular American company that allows small businesses and their potential customers to connect with each other online. Its fourth quarter results came with a disappointment for analysts, as while they had projected Yelp Inc. (NYSE:YELP)'s full year operating income estimate to sit at $341 million, the high end of the actual guidance was lower.Insider Monkey scoured through 933 hedge fund holdings for their December quarter of 2023 shareholdings and discovered that 29 had invested in the firm. The largest Yelp Inc. (NYSE:YELP) hedge fund shareholder is Peter Rathjens, Bruce Clarke, and John Campbell's Arrowstreet Capital as it owns a $64 million stake.10. PENN Entertainment, Inc. (NASDAQ:PENN)Number of Hedge Fund Investors In Q4 2023: 31 52-Week Range: $18.35 - $32.08 Current Share Price: $18.60PENN Entertainment, Inc. (NASDAQ:PENN) is an American casino and gaming company headquartered in Pennsylvania. Its fourth quarter earnings report was a disappointing set of results that saw PENN Entertainment, Inc. (NASDAQ:PENN) not only miss analyst Q4 revenue estimates of $1.53 billion by posting $1.40 billion but also post a 12% annual drop in the segment.During the same time period, out of the 933 hedge funds part of Insider Monkey's database, 31 had held a stake in PENN Entertainment, Inc. (NASDAQ:PENN). Parag Vora's HG Vora Capital Management was the firm's biggest investor since it owned 14.5 million shares that are worth $377 million.9. Roku, Inc. (NASDAQ:ROKU)Number of Hedge Fund Investors In Q4 2023: 32 52-Week Range: $51.62 - $108.84 Current Share Price: $72Roku, Inc. (NASDAQ:ROKU) is a consumer technology company that sells entertainment related hardware and software products. The firm has struggled on the earnings front by having missed analyst EPS estimates in three out of its four latest quarters.Insider Monkey took a look at 933 hedge fund portfolios for last year's fourth quarter and found that 32 were the firm's shareholders. Roku, Inc. (NASDAQ:ROKU)'s largest stakeholder is Catherine D. Wood's ARK Investment Management as it owns $873 million worth of shares.8. QuidelOrtho Corporation (NASDAQ:QDEL)Number of Hedge Fund Investors In Q4 2023: 32 52-Week Range: $41.75 - $98.67 Current Share Price: $41.76QuidelOrtho Corporation (NASDAQ:QDEL) is a diversified medical raw materials company whose products assist laboratories in diagnosing diseases. The shares are rated Buy on average, and the average analyst share price target is $80.33 for a significant upside over the current share price.As of December 2023 end, 32 out of the 933 hedge funds part of Insider Monkey's database had bought and owned QuidelOrtho Corporation (NASDAQ:QDEL)'s shares. Mathew Strobeck's Birchview Capital was the biggest investor courtesy of its $4.8 million stake.7. Iridium Communications Inc. (NASDAQ:IRDM)Number of Hedge Fund Investors In Q4 2023: 33 52-Week Range: $29.94 - $68.34 Current Share Price: $30.14Iridium Communications Inc. (NASDAQ:IRDM) is a telecommunications company that provides internet and other coverage through a satellite network. Its investors were dealt with bad news in February 2024 when BWS Financial downgraded the stock to Hold from Buy and revised the share price target to $30 as it worried about the competitive landscape.By the end of last year's fourth quarter, 33 out of the 933 hedge funds covered by Insider Monkey's research had held a stake in the firm. The largest Iridium Communications Inc. (NASDAQ:IRDM) hedge fund shareholder is Kevin Kuebler and Ming Lam's Silver Heights Capital Management due to its $109 million investment.6. SBA Communications Corporation (NASDAQ:SBAC)Number of Hedge Fund Investors In Q4 2023: 41 52-Week Range: $185.23 - $279.07 Current Share Price: $206.80SBA Communications Corporation (NASDAQ:SBAC) is an American real estate investment trust that deals in the telecommunications sector. Amidst a global economic turmoil that has seen businesses struggle, SBA Communications Corporation (NASDAQ:SBAC) is interested in expanding its global portfolio by buying assets in Ireland.41 out of the 933 hedge funds part of Insider Monkey's Q4 2023 database were SBA Communications Corporation (NASDAQ:SBAC)'s shareholders. Out of these, the biggest investor is Ken Griffin's Citadel Investment Group through its $673 million stake.Transocean Ltd. (NYSE:RIG), SBA Communications Corporation (NASDAQ:SBAC), Twilio Inc. (NYSE:TWLO), and Biogen Inc. (NASDAQ:BIIB) are some top beaten down stocks that hedge funds are buying. Click here to continue reading and check out 5 Best Beaten Down Stocks To Buy Right Now.  Suggested articles:Top 20 Most Valuable Fintech Companies in the US18 High Growth Low PE Stocks15 Best Large-Cap Stocks to Buy in 2024Disclosure: None. 14 Best Beaten Down Stocks To Buy Right Now is originally published on Insider Monkey.

Insider Monkey

14 Best Beaten Down Stocks To Buy Right Now

https://finance.yahoo.com/news/14-best-beaten-down-stocks-120431736.html

ab2ae09f-16cc-3463-ac5a-8c9c01612d2f

BIIB

Food and Drug Administration (FDA) officials delayed the approval decision deadline for Eli Lilly's (LLY) Alzheimer's drug, donanemab, as regulators carefully examine how the new treatment will compete and compare to other offerings in its drug class.Yahoo Finance Health Reporter Anjalee Khemlani helps explain.For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.Editor's note: This article was written by Luke Carberry Mogan.Video TranscriptJULIE HYMAN: Another mover that we're watching Eli Lilly, it's facing a setback. Thanks to the Food and Drug Administration. The FDA is pushing back its approval decision deadline for the drugmaker's experimental Alzheimer's treatment.And so we see the shares fall back on that. And this is something that was not expected here. And it had some other setbacks as well for this particular drug. So this is just the latest.We're seeing the shares fall. It's not a huge decline. A lot of analysts are saying, well, you know, Eli Lilly, this is not why people are necessarily buying Eli Lilly shares right now. They're looking at the GLP 1 story. But nonetheless, this was something that had potential to add to the sales.JOSH LIPTON: Yeah, I saw a company execs seemed like kind of talking to the press here saying the decision to hold this hearing now. Unexpected was a word they used, unusual. It doesn't seem like we know much about why the FDA decided to convene the panel now, although you're seeing some speculation about what it might be about.JULIE HYMAN: Well, let's bring in someone who has some color on this because she has been watching this very carefully. Our Anjalee Khemlani. So what gives with this.I mean, we know that this class of Alzheimer's drugs has faced setbacks in the past, notably the Biogen drug that they put forward Aduhelm. Is this a similar drug to that? Does it face some similar issues?ANJALEE KHEMLANI: Yeah, I was going to say, I have the answer to that. I was to interject.Story continuesJOSH LIPTON: Good thing Anjalee is here.ANJALEE KHEMLANI: Yeah. So, yes, it is the class of drugs that is a concern for the FDA because we've seen the side effects that result from these drugs. And so while not-- but Lacombe Biogen's drug is already on the market. They're looking at how this competes and how it compares.So they're looking at the safety data. They want to take a look at all of that it's important to note that this drug don't-- oh, my gosh I knew I was going to mess it up. Donanemab is the one that is intravenously delivered. And that is also how Lacombe comes in.So this is where the competition kind of sets up because Biogen is waiting to release a subcutaneous that goes in the muscle like an injection next year. So this really decreases the ability for Lilly to compete in the space. That's where the concern is for investors right now.It does have on the plus side 35% of slowing progression in the disease. And analysts did say that they were expecting sort of a smaller buildup for the company in terms of sales this year, 30 million about from this drug. But next year was supposed to be sort of a bigger push for it with $450 million expected.Does this then reduce this year's? For sure, yes, because we don't know what date has been set for this meeting as well for the outside advisors to look from the FDA. But then also for next year, what does it look like?JOSH LIPTON: Some folks say to, Anjalee, I was seeing that what this could mean is that it increases the chances of a more complicated label. Why is that important?ANJALEE KHEMLANI: Well, that's important because then it reduces the patient population, right? It's going to increase how strict doctors are in prescribing it and who gets access to it based on what the known side effects are, who is least qualified.They look at the buildup of plaque, right? That's the target of this type of treatment. That's the class of treatment you were talking about, Julie.And so that's where there's been this buildup of concerns. We saw that struggle with Aduhelm. Lacombe's been really slow to roll out as well.And so it's not really a big moneymaker. Eli Lilly, to your point, was supposed to have these two things in the bag for this year, right? They were supposed to have the GLP 1.They were supposed to have as well. This drug for this year coming in granted playing a smaller role, but still was supposed to be part of that story. And so now, a little bit of a setback there.But still the GLP 1 is really skyrocketing. So that covers any larger impact. I think they're kind of covering the loss there with this.JULIE HYMAN: Yeah, a bit of a cushion for Eli Lilly.ANJALEE KHEMLANI: Very nice big cushion.JULIE HYMAN: Yeah. Anjalee, thank you so much. Appreciate it.

Yahoo Finance Video

FDA delays approval deadline for Eli Lilly's Alzheimer's drug

https://finance.yahoo.com/video/fda-delays-approval-deadline-eli-211116927.html

0c25a8d8-ccb0-3075-adf6-fdd9dd5af32b

BIIB

In this article, we will look at the 20 highest-paying countries for biotechnology. We have also discussed the global biotechnology market along with key trends and players. If you want to skip our detailed analysis, head straight to the 5 Highest Paying Countries for Biotechnology. The Global Biotechnology MarketThe global biotechnology market exhibited major growth, with a valuation of $1.38 trillion in 2023, projected to increase to approximately $4.25 trillion by 2033. This expansion is anticipated to maintain a compound annual growth rate (CAGR) of 11.8% from 2024 to 2033. Notably, North America dominated the market in 2023, holding a major revenue share of 37.79%, while Asia Pacific followed closely behind with a share of 23.99%.In terms of application, bio-pharmacy had the largest revenue share in 2023, capturing 41.73%, while bio-industries accounted for 24.33%. The US biotechnology market, valued at $246.18 billion in 2023, is expected to reach $763.82 billion by 2033, growing at a CAGR of 11.90%. The Asia-Pacific region is set to witness sizable growth, with a forecasted growth rate exceeding 12.7% during the forecast period, attributed to improvements in healthcare infrastructure and supportive government regulations.Technological development, particularly in tissue engineering and regeneration, is driving market growth, with the segment commanding a major share in 2023. Additionally, chromatography is anticipated to witness rapid growth, offering precise analytical capabilities essential for various biotechnological applications. Latest Key Trends in the Biotechnology Industry In 2023, the biotechnological industry underwent major transformations, including layoffs and leadership changes. Investors reoriented towards fewer but more impactful deals, driven partly by the challenges faced by Silicon Valley Bank. This shift saw a decline in the number of deals, with only about 840 totaling approximately $24 billion compared to over 1,500 deals totaling nearly $60 billion in 2021.Story continuesMoreover, technological breakthroughs have been notable, such as the FDA's approval of the first Crispr gene therapy, offering hope for treating genetic disorders. Additionally, whole genome sequencing, previously confined to research, entered clinical practice, enhancing genetic disease diagnosis and embryo screening in IVF clinics.Pharmaceutical giants Novo Nordisk A/S (NYSE:NVO) and Eli Lilly and Co (NYSE:LLY) saw major growth with GLP-1 drugs, witnessing increased sales and stock prices. Forecasts suggest these drugs could generate up to $400 billion annually in the United States alone.The Key Players of Biotechnology Market in 2024Two of the important players we’d like to discuss in the context of biotechnology are Amgen Inc (NASDAQ:AMGN) and Biogen Inc (NASDAQ:BIIB). Let’s look at their recent developments. Amgen Inc (NASDAQ:AMGN)’s experimental weight-loss drug, in clinical trials, has shown promising results with notable statistics. In one study, patients experienced an average weight loss of 8.2% over 92 days with the highest dosage, compared to a 1.7% gain in the placebo group. Another study demonstrated a 14.5% weight loss over 85 days, with the weight loss maintained for up to 150 days. However, adverse effects were observed, with half of the high-dose group discontinuing after the first dose due to nausea and vomiting.Despite the positive outcomes, concerns persist regarding the drug's side effects. Analysts anticipate further evaluation during the Phase 2 trials later in the year. Concurrently, Amgen Inc (NASDAQ:AMGN)’s stock saw a slight decline, contrasting with Eli Lilly and Co (NYSE:LLY)’s significant increase of 5.8%, reaching a record high. Novo Nordisk A/S (NYSE:NVO) also experienced a notable 4% increase in shares, attributed in part to Novo Nordisk A/S (NYSE:NVO)’s $11.5 billion acquisition of Catalent, aimed at enhancing production capabilities.While Amgen Inc (NASDAQ:AMGN)’s foray into the weight-loss drug market holds promise, analysts suggest it may take years before a market-ready product emerges. On the other hand, Biogen Inc (NASDAQ:BIIB) is facing challenges following the underwhelming demand for its once-promising Alzheimer's drug, Aduhelm. With a staggering 198,000 liters of mammalian capacity at its Swiss and North Carolina sites, primarily allocated for Aduhelm production, Biogen Inc (NASDAQ:BIIB) is reassessing its manufacturing strategy with uncertain commercial prospects. The FDA's approval of Aduhelm in 2021 was overshadowed by CMS restrictions, leaving Biogen Inc (NASDAQ:BIIB) struggling with major inventory write-offs and idle capacity, resulting in a reported loss of $45 million in the first quarter of 2022.In response to these setbacks, Biogen Inc (NASDAQ:BIIB) is adopting cost-reduction measures, aiming to save $500 million by eliminating Aduhelm infrastructure and reducing operational expenses. CEO Michael Vounatos hinted at a shift in focus towards other pipeline candidates, such as Lecanemab, indicating a potential redirection of manufacturing resources. Despite the challenges, Biogen Inc (NASDAQ:BIIB) remains committed to aligning its capabilities with evolving market demands.20 Highest Paying Countries for BiotechnologyA scientist in a lab conducting research on cell-based therapeutics and biotechnology.Our MethodologyTo list the highest paying countries for biotechnology we identified the countries with the highest demand for biotechnologists and then made a list for 30 countries with the average salaries for biotechnologists. Of those 30, the 20 with the highest average salaries were selected and have been ranked. We acquired the data for average salaries of biotechnologists for each country from the Economic Research Institute (ERI). The list is presented in ascending order.By the way, Insider Monkey is an investing website that uses a consensus approach to identify the best stock picks of more than 900 hedge funds investing in US stocks. The website tracks the movement of corporate insiders and hedge funds. Our top 10 consensus stock picks of hedge funds outperformed the S&P 500 stock index by more than 140 percentage points over the last 10 years (see the details here). So, if you are looking for the best stock picks to buy, you can benefit from the wisdom of hedge funds and corporate insiders.20. SpainAverage Salary: $60,353Spain's biotech sector has experienced exponential growth and hence, attracted international investors. In 2019, it invested €940 million ($1.06 billion) in R&D, doubling over a decade. By 2020, funding exceeded €150 million ($168.5 million). BioSpain, a major industry event, drew over 2,000 attendees from 30+ countries, showcasing Spain's thriving biotech landscape. 19. SingaporeAverage Salary: $64,787Singapore's high-paying biotech sector is a result of strategic investments by the government dating back to 2000, aiming to diversify the economy. Billions have been poured into dedicated research hubs like Biopolis, attracting global talent. Singapore's long-term vision allows for sustained development, contrasting with short-term US cycles. Additionally, a focus on education, with funding for PhDs and university positions, ensures a skilled workforce. The sector has tripled in size in a decade, with predictions of further growth.18. ItalyAverage Salary: $66,694Italy is among the highest paying countries for biotech owing to its burgeoning biotech industry and investment in research and development. Companies like Menarini Group and MolMed are key players in the Italian biotech sector. 17. United Arab EmiratesAverage Salary: $66,933Dubai's DuBiotech offers a compelling platform for biotech careers with its strategic advantages. Spanning 30 million square feet, it fosters innovation in a tax-friendly environment. Boasting a 50-year tax exemption and full foreign ownership, it attracts top talent and investment. The park's state-of-the-art infrastructure, including the Nucleotide Lab Complex, supports cutting-edge research and development. With over 400 companies and 4,000 professionals, it's a vibrant hub for collaboration and growth. 16. New ZealandAverage Salary:  $69,354New Zealand offers high salaries in biotech due to its advanced research infrastructure, government incentives, and focus on innovation. With a flourishing biotech sector supported by world-class universities and research organizations, the country attracts top talent globally. 15. United KingdomAverage Salary: $72,787The UK's biotech sector has seen remarkable success, evidenced by major contributions to the economy. With over £16.4 billion ($20.8 million) generated annually through drug manufacturing alone, it highlights the sector's strong financial impact. 14. FranceAverage Salary: $76,650France is one of the best countries for biotech jobs, exemplified by startups like Toopi Organics. With an impressive €8.4 million ($9.15 million) funding from the EIC Accelerator, Toopi Organics has launched urine upcycling for agriculture, addressing major environmental challenges. In 2023 alone, Toopi Organics collected urine from nearly 2 million EU citizens and launched its first product, Lactopi Start, approved for organic farming in 5 EU member states. With expanding initiatives and supportive funding, France's biotech sector promises substantial growth, offering unparalleled opportunities for innovation and impact. 13. FinlandAverage Salary: $80,668Finland is a top-paying country for biotech owing to its strong innovation ecosystem, supportive government policies, high-quality research institutions, and skilled workforce. With a focus on cutting-edge technology and strong investment in R&D, Finnish biotech companies attract talent globally, driving competitive salaries. 12. IrelandAverage Salary: $81,277Biotechnology in Ireland continues to grow with Pfizer Inc (NYSE:PFE)’s major investments. Pfizer Inc (NYSE:PFE)’s Grange Castle facility expansion, with a €1.2bn ($1.26bn) investment, has bolstered the country’s biotech sector. Set for completion by 2027, the project will double biological drug manufacturing capacity, creating 400-500 jobs. The campus, part of Pfizer Inc (NYSE:PFE)’s global biotech network, produces vital drugs and vaccines, including Paxlovid Covid-19 mRNA vaccine. 11. NetherlandsAverage Salary: $81,653The Netherlands among the top countries for biotech salaries. The country has over 3000 firms investing €2.2 billion ($2.40 billion) in R&D as of January 2023. With a flourishing ecosystem supported by leading academic institutions, strategic collaborations, and government incentives such as tax relief, it's a hotspot for innovation. Notably, it ranks second globally for biotechnology patent applications, indicating its strong research environment.  10. AustraliaAverage Salary: $82,804Australia is a true leader in biotech industry with over 1,400 companies, 80% of which are agile small to medium enterprises, contributing largely to R&D spending, totaling $4.2 billion due to the R&D Tax Incentives (RDTI). Implemented in 2011, RDTI's tax offset, scaled by turnover, serves as a lifeline for smaller biotechs, crucial for innovation and market entry. It is also one of the highest-paying countries for microbiologists. 9. CanadaAverage Salary: $82,980In Canada, the biotech industry is growing, with companies like Takeda,  Novo Nordisk A/S (NYSE:NVO), Zymeworks, MedAvail, and Deep Genomics leading the charge in innovation. Takeda focuses on various medical fields including oncology and rare diseases, while Novo Nordisk A/S (NYSE:NVO)  specializes in defeating chronic illnesses like diabetes and Alzheimer's. With an average salary of $82,980, it is one of the top 10 highest paying countries for biotechnology.8. AustriaAverage Salary: $87,730Austria is among the top-paying countries for biotech jobs in Europe due to its strong emphasis on research and innovation, supported by government investment and a robust academic-industry collaboration. The country boasts a highly skilled workforce and a favorable business environment. 7. GermanyAverage Salary: $89,073Germany's biotech industry continues to grow with lucrative acquisitions like Novartis AG (NYSE:NVS) purchasing MorphoSys for $2.9 billion, bolstering cancer drug development. Novartis AG (NYSE:NVS)’s acquisition provides access to MorphoSys' innovative treatments, enhancing their portfolio and fostering job growth in the high-paying biotech sector. The deal signals confidence in Germany's biotech prowess, offering substantial resources to expedite drug development. 6. BelgiumAverage Salary: $94,354Belgium is a powerhouse in European biotech, trailing only Denmark with a €40.1 billion ($43.69 billion) market capitalization by March 2023. Despite global economic downturns, Belgium's biotech sector has shown resilience, spearheaded by argenx's impressive 25% market value increase. However, smaller firms, valued under €1 billion ($1.09 billion), face volatility, sliding to seventh place in the European hierarchy with a combined value of €1.6 billion ($1.74 billion). It is one of the countries with the best pharmaceutical industry.Click here to see the 5 Highest Paying Countries for Biotechnology.Suggested Articles:20 Fastest Growing Biotech Companies in the US11 Most Promising Biotech Stocks to Buy According to Analysts12 Best Small-Cap Biotech Stocks with Massive Potential According to Hedge FundsDisclosure: None. 20 Highest Paying Countries for Biotechnology is originally published on Insider Monkey.

Insider Monkey

20 Highest Paying Countries for Biotechnology

https://finance.yahoo.com/news/20-highest-paying-countries-biotechnology-164442858.html

be4fb8ef-6716-3137-b78d-dc0ad5e13de3

BIO

Bio-Rad Laboratories, Inc. (NYSE:BIO) Q4 2023 Earnings Call Transcript February 15, 2024Bio-Rad Laboratories, Inc. beats earnings expectations. Reported EPS is $3.1, expectations were $2.93. BIO isn't one of the 30 most popular stocks among hedge funds at the end of the third quarter (see the details here).Operator: Good afternoon, ladies and gentlemen. And welcome to the Bio-Rad Fourth Quarter and Full Year 2023 Earnings Results Conference Call. At this time, all lines are in a listen-only mode. Following the presentation, we will conduct a question-and-answer session. [Operator Instructions] I would now like to turn the conference over to Edward Chung. Please go ahead.Edward Chung: Thanks, Jenny. Good afternoon, everyone, and thank you for joining us. Today, we will review the fourth quarter and full year 2023 financial results and provide an update on key business trends for Bio-Rad. With me on the call today are Norman Schwartz, our Chief Executive Officer; Andy Last, Executive Vice President and Chief Operating Officer; and Simon May, President of the Life Science Group. Before we begin our review, I would like to caution everyone that we will be making forward-looking statements about management’s goals, plans and expectations, our future financial performance and other matters. These statements are based on assumptions and expectations of future events that are subject to risks and uncertainties.Our actual results may differ materially from these plans, goals and expectations. You should not place undue reliance on these forward-looking statements and I encourage you to review our filings with the SEC where we discuss in detail the risk factors in our business. The company does not intend to update any forward-looking statements made during the call today. Finally, our remarks today will include references to non-GAAP financials, including net income and diluted earnings per share, which are financial measures that are not defined under Generally Accepted Accounting Principles. Investors should review the reconciliation of these non-GAAP measures to the comparable GAAP results contained in our earnings release. With that, I will now turn over the call to Andy Last, our Executive Vice President and Chief Operating Officer, to provide an update on Bio-Rad’s global operations.Story continuesAndy Last: Okay. Many thanks, Ed, and good afternoon to everybody. Thank you for joining us. The fourth quarter of 2023 performed largely as expected, reflecting a continuation of the macroeconomic trends started earlier this year in the biotech and biopharma segments, China and geopolitical challenges related to Russia. However, revenue picked up nicely compared to Q3 in both Life Science and Diagnostics, although, as expected, we saw little in the way of budget flush in the fourth quarter of this year for the Life Science business. During the quarter, we smoothed out the remaining operational challenges associated with our SAP Go Live in Q3 in Asia-Pacific, and we are now operating on a single global instance of SAP across all our operations.In Life Science, we experienced a double-digit core business decline compared to Q4 prior year, where we had challenging compares due to strong budget flush, backorder burn down and we benefited from the launch of the QX600 ddPCR platform. We were pleased with the growth of our Clinical Diagnostics business in Q4, especially in Asia-Pacific, where we prioritized placements to capture some strong growth trends, particularly in our diabetes testing franchise. We are now past our supply chain challenges and finished the quarter with a more normalized year-end backlog. Overall, our ddPCR franchise had a soft 2023, with sales flat when excluding COVID, as compared to the high growth we had previously been experiencing from our focus in biotech and biopharma.However, we remain very positive on maintaining our leading market share in the markets we serve and are looking forward to the impact of the QX Continuum launch as we expand our focus on the lower-end market later this year. In addition, we continue to prioritize investment on application and assay expansion for the platform overall, with further launches coming during the year. Further, we are excited about the launch of several other new Life Science products this year, which include our new generation -- next-generation ChemiDoc Western blot platform and single-cell ddSEQ sample preparation solution. We were pleased with the Q4 finish for our Clinical Diagnostics business, especially double-digit year-end growth in Asia-Pacific as a function of demand and priority placements, which helped us to deliver mid-single-digit growth overall for the quarter.During 2023, our teams worked hard on reducing our back orders in the clinical business while bringing up Singapore to full production for the products transferred from France. We were pleased with the progress we made on our core franchises in quality controls, immunohematology, diabetes and autoimmune, net of the challenges in Russia and China. In Q4, inventory levels remained high and similar to Q3, continuing to reflect some impacts of our manufacturing transfer of clinical instruments from France to Singapore and also lower demand impacting inventory consumption in Life Sciences. We continued to exercise tight cost control in Q4 and this included lower employee-related costs reflecting reduced incentive compensation accruals. Looking toward 2024 for our Clinical Diagnostics business, we anticipate a more normalized year for customer demand.However, we remain cautious on the pace and dynamics of recovery in our Life Science business. We expect the first half of the year to be a decline due to ongoing softness in biopharma and biotech and prior year compares. But anticipate improvement in the second half of the year as funding improves along with stabilization in the broader biopharma market. The pace and shape of recovery in China remains uncertain, but China remains a priority market for future growth for the company. Overall, we see 2024 as a recovery transition year with higher levels of uncertainty than usual for our Life Science business due to the anticipated second half improvements in biotech and biopharma and the bioprocessing de-stocking recovery. On the latter point, we enter 2024 with a softer order book for process chromatography than the last few years.Mostly related to a couple of large customers with at least one of our large customers still working off elevated inventory throughout the year. On a positive note, our process chromatography resins are included in five of the novel therapeutics approved by the FDA during 2023. In addition, we are excited about the go-live of our new Singapore DC toward the last part of the year, which supports ongoing logistics improvements in the Asia-Pacific region and globally for both businesses. On the operating cost front, we have continued to make improvements in our cost structure. However, we will see a material step up in cost in 2024 for employee incentive compensation accruals, which along with annual merit increases, will create a meaningful cost headwind.We also expect to see ongoing tightening of sanctions against Russia, making conditions for meeting demand for our clinical business increasingly more challenging there. In closing, we continue to drive forward on our strategy with focus on execution on our priority market segments and platforms, investing in process and efficiency gains around our single global SAP instance and maintaining our investment levels to drive innovation for our core platforms. Thank you and I’ll now pass you to Norman to review the financial results.Norman Schwartz: Okay. Thank you, Andy. So, first, I’d like to review the results of the fourth quarter and the full year. So net sales for the fourth quarter of 2023 were $681.2 million. It’s a 6.7% decline on a reported basis versus $730.3 million in Q4 of 2022 and a 7.7% decline on a currency-neutral basis. Similar to the prior quarter, the fourth quarter year-over-year revenue decline was primarily the result of ongoing weaknesses in the biotech and biopharma end markets, again, primarily impacting sales of our Life Science segment products. In addition, we continue to experience weak demand for Life Science products in China. I think both as a result of the macroeconomic environment, as well as to some extent, the local made-in-China initiatives.COVID-related sales in the prior year were $13.4 million and immaterial in the fourth quarter of 2023. Therefore, core revenue, which excludes COVID-related sales, decreased 6.0% currency-neutral. And then on a geographic basis, currency-neutral revenue decreased year-over-year in the Americas and Europe and was relatively flat in Asia. The sales of the Life Science Group in the fourth quarter of 2023 were $291.1 million, compared to $359.7 million in Q4 of 2022, which is a 19.1% decline on a reported basis and 19.9% on a currency-neutral basis. Excluding COVID-related sales, the Life Science year-over-year currency-neutral core revenue experienced a broad-based decline of approximately 17%. In addition to the challenging biotech, biopharma end markets and soft macroeconomic conditions in China during the quarter, ddPCR and qPCR sales faced difficult compares due to the backorder burn down and other factors Andy mentioned in the year-ago period.And when excluding process chromatography sales, the underlying Life Science business decreased 22.1% on a currency-neutral basis versus Q4 of 2022. And finally, the Life Science Group revenue excluding process chromatography and COVID-related sales decreased 18.7% currency-neutral. On a geographic basis, Life Science year-over-year core revenue decreased across all three regions. Conversely, we saw broad-based growth for the Clinical Diagnostics Group, fourth quarter sales of the Clinical Diagnostics Group were $389 million, compared to $369.6 million in Q4 of 2022. This represents a growth of 5.3% on a reported basis and 4.2% growth on a currency-neutral basis. And then core Clinical Diagnostics year-over-year revenue, which excludes COVID-related sales increased 4.3%.The Clinical Diagnostic Group benefited from particular strength in diabetes product sales, as well as from the reduction of elevated backorders. On a geographic basis, the Diagnostics Group revenue is primarily driven by strong growth in Asia. For the company, Q4 reported gross margin was 53.8% on a GAAP basis and compares to 54.4% in the fourth quarter of 2022. The year-over-year gross margin decline was due to a number of factors including lower manufacturing volume, the impacts of inflation and inventory reserves. Amortization related to prior acquisitions recorded in cost of goods was $4.5 million, as compared to $4.4 million in Q4 of 2022. SG&A expenses for the fourth quarter of 2023 were $207.1 million or 30.4% of sales, compared to $212.2 million or 29.1% in Q4 of 2022.The lower SG&A in the quarter was mainly due to lower employee-related expenses, partially offset by a weaker dollar and a facility lease impairment. And total amortization expense related to acquisitions recorded in SG&A for the quarter was $1.2 million versus $1.7 million in Q4 of 2022. Research and development expense in the fourth quarter was $63.9 million or 9.4% of sales, compared to $66.2 million or 9.1% of sales in Q4 of 2022. The lower expense levels reflect both lower employee-related and project expenses. Fourth quarter operating income was $95.3 million or 14% of sales, compared to $118.7 million or 16.2% of sales in Q4 of 2022. And looking below the operating line, the change in fair market value of equity security holdings, which are substantially related to Bio-Rad’s ownership of Sartorius AG shares added $324.3 million of income to the reported results.During the quarter, interest and other income resulted in net other income of $8.8 million, compared to net other expense of $6.1 million last year, primarily driven by increased interest income from investments. Effective tax rate for the fourth quarter of 2023 was 18.4%, compared to 24.2% for the same period in 2022. Tax rates for both years were driven by unrealized gains in equity securities and the lower rate in 2023 was primarily a result of changes in the geographical mix of earnings. Fourth quarter reported net income was $349.7 million or $12.14 diluted earnings per share, compared to net income of $827.7 million or diluted earnings per share of $27.78 in Q4 of 2022. This change from last year is again largely related to changes in the valuation of Sartorius holdings.A medical laboratory technician in protective gear working with a laboratory instrument.So moving on to the non-GAAP results. On a non-GAAP basis, we have excluded certain atypical and unique items that impacted both gross and operating margins, as well as other income. These items are detailed in the reconciliation table in the press release. So looking at the non-GAAP results for the fourth quarter, in cost of goods, we have excluded $4.5 million of amortization of purchased intangibles and a small restructuring benefit. These exclusions move the gross margin for the fourth quarter of 2023 to a non-GAAP gross margin of 54.4% versus 54.9% in Q4 of 2022. Non-GAAP SG&A in the fourth quarter of 2023 was 29.8% versus 28.5% in Q4 of 2022. In SG&A, on a non-GAAP basis, we have excluded amortization of purchased intangibles of $1.2 million and in vitro diagnostics registration fee in Europe for previously proved products of $8 -- of $1.8 million and $851,000 of restructuring-related expenses.Non-GAAP R&D expense in the fourth quarter of 2023 was 9.1%, basically the same as 2022. In R&D on a non-GAAP basis, we have excluded $1.3 million in the restructuring expenses and $400,000 in acquisition-related costs. And the cumulated -- in the cumulative sum of these non-GAAP adjustments result in moving the quarterly operating margin from 14% on a GAAP basis to 15.5% on a non-GAAP basis. And this non-GAAP operating margin compares to a non-GAAP operating margin of 17.4% in Q4 of 2022. We’ve also excluded certain items below the operating line, which are the increase in the value of Sartorius equity holdings and a loan receivable of $324.3 million and a $965,000 loss on venture investments. The non-GAAP effective tax rate for the fourth quarter of 2023 was 22.4%, compared to 28.1% for the same period in 2022.The lower tax rate in 2023 was primarily driven by the geographical mix of earnings and a release of reserves related to resolution of certain tax positions. And finally, non-GAAP net income for the fourth quarter of 2023 was $89.3 million or $3.10 diluted earnings per share, compared to $98.5 million or diluted earnings per share of $3.31 in Q4 of 2022. So now, for the full year results. Net sales for the full year of 2023 were $2,671 million, which is a 4.7% decline on a reported basis, as compared to $2,802 million in 2022. On a currency-neutral basis, full year of 2023, net sales decreased 4.1%. COVID-related sales for the full year were about $4 million, compared to $109 million in 2023 -- 2022. So that core year-over-year revenue, which excludes COVID-related sales, decreased 0.4% or effectively flat on a currency-neutral basis.Now, looking at full year sales results by segment, sales of the Life Science Group for 2023 were $1,178 million, a year-over-year decline of 12% on a currency-neutral basis. When excluding COVID-related sales, Life Science year-over-year currency-neutral core revenue declined 4.9%. The majority of the year-over-year decline was driven by process chromatography, qPCR products and Western blot. On a geographic basis, Life Science currency-neutral full year core revenue, which as a reminder, excludes COVID sales, declined in Asia and Europe while the Americas posted modest growth. Sales of the Clinical Diagnostic products for 2023 were $1,489 million, which represents a 3.2% growth on a currency-neutral basis. When excluding COVID-related sales, the Clinical Diagnostics year-over-year currency-neutral core revenue growth was 3.4% and was driven by diabetes, quality control and blood typing products, partially offset by a decline in infectious disease products.On a geographic basis, Clinical Diagnostics currency-neutral full year core revenue growth grew across all three regions. Overall, company full year non-GAAP gross margin was 54.2%, compared to 56.6% in 2022. The year-over-year margin decline was driven mainly by product mix, lower COVID sales, inventory reserves and lower fixed cost leverage. Full-year non-GAAP SG&A expense was $814.6 million or 30.5% of sales, compared to $805.4 million or 28.7% of sales in 2022. The higher SG&A was related to SAP implementation in Asia, legal fees, a lease impairment and higher discretionary spend, partially offset by lower employee-related costs. Full year non-GAAP R&D was $254.8 million or 9.5% of sales versus $256.7 million or 9.2% of sales in 2022. And full year non-GAAP operating income was 14.2%, compared to 18.7% in 2022, which reflects the effects of revenue decline, shifts in mix and lower fixed cost absorption.And lastly, the non-GAAP effective tax rate for the full year of 2023 was 22.3%, consistent with our guidance range and compared to 22% in 2022. So moving on to the balance sheet. Total cash and short-term investments at the end of 2023 was $1,613 million, compared to $1,796 million at the end of 2022 and $1,765 million at the end of the third quarter of 2023. The change in cash and short-term investments from the third quarter of 2023 was primarily due to share repurchases, working capital and the timing of tax payments. Yesterday, just to mention, we concluded a new $200 million credit agreement maturing in -- now in February of 2029, which provides additional liquidity and enhances Bio-Rad’s financial flexibility. And this new credit line replaces a prior $200 million facility that was maturing in April of this year.Inventory at the end of Q4 increased slightly to $780.5 million from $775.8 million in the prior quarter and was primarily due to a higher level of finished goods. As we move on from the supply chain challenges of the past two years, we continue to anticipate inventory decreasing to more normal levels over the next six quarters to eight quarters. For the fourth quarter of 2023, net cash generated from operating activities was $81 million, which compares to $79.7 million in Q4 of 2022. This increase mainly reflects changes in working capital offset by the timing of tax payments. For the full year of 2023, net cash generated from operations was $374.9 million versus $194.4 million in 2022. This increase mainly reflects changes in working capital.During the fourth quarter, we purchased 659,000 shares of our stock for a total cost of $200 million or an average purchase price of approximately $303 per share, as we continue to be optimistic with our buyback program. Probably useful to note, we still have nearly $280 million available for share repurchases under the current board-authorized program. And further, just so you understand, full year share buybacks totaled 1,268,000 shares for approximately $429 million. Again, that’s for the year. As a comparison, we purchased about 479,000 shares of our stock for $216 million in 2022. Adjusted EBITDA for the fourth quarter of 2023 was $136.8 million or 20.1% of sales and adjusted EBITDA in the fourth quarter of 2022 was 21.4%. Full year adjusted EBITDA, including the Sartorius dividend was $535.9 million or about 20.1%, compared to 23.8% in 2022.Net capital expenditures for the fourth quarter of 2023 were $42.1 million and full year CapEx spend was $156.5 million. And finally, depreciation and amortization for the fourth quarter was $37.2 million and $145.9 million for the full year. So, moving on to the non-GAAP guidance for 2024. So, as Andy alluded to earlier, we do see 2024 as a recovery transition year, so with higher levels of uncertainty than usual for our Life Science business and a steady growth outlook for Diagnostics. Given the operating expense headwinds and muted revenue growth, I think, it’s fair to say that margin expansion will be difficult this year. Keep in mind that employee-related expenses impacting our P&L represent somewhere between a 250-basis-point to 300-basis-point headwind that we need to overcome in 2024 and we have continuing geopolitical issues, especially as it relates to China and Russia.However, we remain -- we -- as we remain focused on improving our cost structure, we’re well-positioned for operating margin leverage and as revenue growth returns. Again, I think, 2024 is certainly very different to a normal year. This year, revenue is expected to be a bit more back-end loaded than usual based on the anticipated recovery in biotech and biopharma. Consequently, we do expect soft gross -- growth and operating margins in the first half of the year, particularly in the first quarter, with improvements in the second half kind of in line with the market recovery and revenue normalization. So with all that as a kind of a preamble, here’s how we see the year rolling out. We’re guiding a currency-neutral revenue growth in 2024 to be between 1% and 2.5% overall.The Life Science Group, year over year of currency-neutral revenue growth is expected to be between zero percent and 2%. And for the Diagnostics Group, we estimate currency-neutral revenue growth to be between 2.5 and 3%. With the backdrop of working through elevated backorders in the last year, we realized a little over 1% from price improvement at the corporate level, which was below inflationary trends to our overall cost. We are targeting to achieve a similar level of price realization this year, mainly through the Life Science Group. We’d also like to call out the sale of a non-core contract manufacturing business in December that was part of a prior acquisition. This business is reported under other operations, contributed revenue of $3 million to $4 million annually, but had really a material -- an immaterial impact on our overall financial results.Full year non-GAAP gross margin is projected to be between 54% and 54.5%, with steady improvement anticipated throughout the year. Gross margin for the first half of the year is expected to be below the full year range, with the second half anticipated gross margin recovery driven by improved sales volume. Full year non-GAAP operating margin is projected to be between 13.5% and 14%. We estimate the non-GAAP full year tax rate to be between 22% and 23%, and CapEx is projected to be approximately $160 million to $180 million as we continue to invest in our infrastructure to support our multiyear growth strategy. And finally, full year non-GAAP EBITDA excluding the Sartorius dividend is expected to be between 18.5% and 19%. And when we include the recently announced reduced Sartorius dividend, the adjusted EBITDA is expected to be between 19% and 19.5%.So in concluding today’s prepared remarks, just a few comments about on Bio-Rad’s ongoing corporate transformation and key accomplishments, maybe a little bit as a baseline for 2024. I would say in spite of all the macro variables, we feel we have a good realistic outlook for 2024. We’re clear of the pandemic. We’ve resolved our supply chain constraints. We successfully transitioned key diagnostics platforms to our Singapore manufacturing facility. We completed our global SAP implementation. And I think most important, we continue to make progress on our journey of transformation. In addition, as Andy mentioned, we have a number of exciting products in our pipeline to help us drive 2024 as we look forward to our Life Science markets recovering later in the year.Certainly looking back over the last four years, I think, it’s important to note that our underlying business has grown at a currency-neutral compound rate of 4.6%, including, I might mention Life Science, which has grown at over 8%. Overall, I think we feel good that we’re making solid progress and I do think we have a lot to look forward to.Edward Chung: That concludes our prepared remarks. And we will now open the line to take your questions. Operator?Operator: Yes. Thank you. [Operator Instructions] Your first question is from Patrick Donnelly from Citi. Please ask your question.See also 15 Careers That Bilinguals and Multilinguals Will Excel in and 10 Largest Cruise Ships in The World.To continue reading the Q&A session, please click here.

Insider Monkey

Bio-Rad Laboratories, Inc. (NYSE:BIO) Q4 2023 Earnings Call Transcript

https://finance.yahoo.com/news/bio-rad-laboratories-inc-nyse-152556047.html

5cd8659d-fab8-3016-9b1f-ee6ff67f78de

BIO

HERCULES, Calif., February 22, 2024--(BUSINESS WIRE)--Bio-Rad Laboratories, Inc. (NYSE: BIO and BIO.B), a global leader in life science research and clinical diagnostics products, today announced that the company’s management will participate in a fireside chat event during Citi's 2024 Unplugged Medtech and Life Sciences Access Day on Thursday, February 29, 2024, at 2:30 PM Eastern Time (11:30 AM Pacific Time).A live webcast and subsequent replay of the event will be available in the Investor Relations section of Bio-Rad’s website at bio-rad.com.About Bio-RadBio-Rad Laboratories, Inc. (NYSE: BIO and BIO.B) is a leader in developing, manufacturing, and marketing a broad range of products for the life science research and clinical diagnostics markets. Based in Hercules, California, Bio-Rad operates a global network of research, development, manufacturing, and sales operations with over 8,000 employees and $2.7 billion in revenues in 2023. Our customers include universities, research institutions, hospitals, food safety and environmental quality laboratories, and biopharmaceutical companies. Together, we develop innovative, high-quality products that advance science and save lives. To learn more, visit bio-rad.com.View source version on businesswire.com: https://www.businesswire.com/news/home/20240222132763/en/ContactsInvestor Contact: Edward Chung, Investor Relations510-741-6104ir@bio-rad.comMedia Contact: Anna Gralinska, Corporate Communications510-741-6643cc@bio-rad.com

Business Wire

Bio-Rad to Participate in Fireside Chat During Citi's 2024 Unplugged Medtech and Life Sciences Access Day

https://finance.yahoo.com/news/bio-rad-participate-fireside-chat-213000789.html

ca6f866e-3eec-3f09-901a-3ed45d5b2cac

BIO

Bio-Rad Laboratories Inc (NYSE:BIO), a global leader in the life science research and clinical diagnostic markets, provides a wide range of products and services for the healthcare industry. The company's offerings include instruments, software, consumables, reagents, and content for the areas of cell biology, gene expression, protein purification, protein quantitation, drug discovery and manufacture, food safety, and science education.According to a recent SEC filing, Timothy Ernst, the Executive Vice President, General Counsel & Secretary of Bio-Rad Laboratories Inc, sold 2,500 shares of the company on February 28, 2024. The transaction was executed at an average price of $330.55 per share, resulting in a total value of $826,375.Over the past year, Timothy Ernst has sold a total of 6,896 shares of Bio-Rad Laboratories Inc and has not made any purchases of the stock. The insider transaction history for the company reveals a pattern of 8 insider sells and no insider buys over the same timeframe.Insider Sell: EVP, General Counsel & Secretary Timothy Ernst Sells 2,500 Shares of Bio-Rad Laboratories Inc (BIO)The market capitalization of Bio-Rad Laboratories Inc stood at $9.423 billion on the day of the insider's recent sale. With the stock trading at $330.55 and a GuruFocus Value (GF Value) of $475.33, Bio-Rad Laboratories Inc has a price-to-GF-Value ratio of 0.7, indicating that the stock is significantly undervalued according to the GF Value metric.Insider Sell: EVP, General Counsel & Secretary Timothy Ernst Sells 2,500 Shares of Bio-Rad Laboratories Inc (BIO)The GF Value is a proprietary intrinsic value estimate from GuruFocus, which is determined by considering historical trading multiples such as the price-earnings ratio, price-sales ratio, price-book ratio, and price-to-free cash flow. Additionally, the GF Value includes a GuruFocus adjustment factor based on the company's historical returns and growth, as well as future business performance estimates provided by Morningstar analysts.Warning! GuruFocus has detected 4 Warning Sign with BIO.This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.This article first appeared on GuruFocus.

GuruFocus.com

Insider Sell: EVP, General Counsel & Secretary Timothy Ernst Sells 2,500 Shares of Bio-Rad ...

https://finance.yahoo.com/news/insider-sell-evp-general-counsel-160053501.html

b6b7f3f6-e34f-3a95-b18b-a523af990240

BK

Getting big returns from financial portfolios, whether through stocks, bonds, ETFs, other securities, or a combination of all, is an investor's dream. But when you're an income investor, your primary focus is generating consistent cash flow from each of your liquid investments.Cash flow can come from bond interest, interest from other types of investments, and of course, dividends. A dividend is the distribution of a company's earnings paid out to shareholders; it's often viewed by its dividend yield, a metric that measures a dividend as a percent of the current stock price. Many academic studies show that dividends make up large portions of long-term returns, and in many cases, dividend contributions surpass one-third of total returns.The Bank of New York Mellon Corporation in FocusThe Bank of New York Mellon Corporation (BK) is headquartered in New York, and is in the Finance sector. The stock has seen a price change of 5.96% since the start of the year. The company is paying out a dividend of $0.42 per share at the moment, with a dividend yield of 3.05% compared to the Banks - Major Regional industry's yield of 3.93% and the S&P 500's yield of 1.62%.Looking at dividend growth, the company's current annualized dividend of $1.68 is up 6.3% from last year. In the past five-year period, The Bank of New York Mellon Corporation has increased its dividend 4 times on a year-over-year basis for an average annual increase of 7.67%. Any future dividend growth will depend on both earnings growth and the company's payout ratio; a payout ratio is the proportion of a firm's annual earnings per share that it pays out as a dividend. The Bank of New York Mellon Corporation's current payout ratio is 33%, meaning it paid out 33% of its trailing 12-month EPS as dividend.Looking at this fiscal year, BK expects solid earnings growth. The Zacks Consensus Estimate for 2024 is $5.23 per share, which represents a year-over-year growth rate of 3.56%.Story continuesBottom LineInvestors like dividends for a variety of different reasons, from tax advantages and decreasing overall portfolio risk to considerably improving stock investing profits. However, not all companies offer a quarterly payout.High-growth firms or tech start-ups, for example, rarely provide their shareholders a dividend, while larger, more established companies that have more secure profits are often seen as the best dividend options. Income investors must be conscious of the fact that high-yielding stocks tend to struggle during periods of rising interest rates. With that in mind, BK presents a compelling investment opportunity; it's not only an attractive dividend play, but the stock also boasts a strong Zacks Rank of #1 (Strong Buy).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 reportThe Bank of New York Mellon Corporation (BK) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

Why The Bank of New York Mellon Corporation (BK) is a Top Dividend Stock for Your Portfolio

https://finance.yahoo.com/news/why-bank-york-mellon-corporation-164504381.html

efc8ca15-2185-3733-96dd-a7ef24156a3c

BK

Key InsightsSignificantly high institutional ownership implies Bank of New York Mellon's stock price is sensitive to their trading actionsThe top 16 shareholders own 50% of the company Recent sales by insiders Every investor in The Bank of New York Mellon Corporation (NYSE:BK) should be aware of the most powerful shareholder groups. We can see that institutions own the lion's share in the company with 86% ownership. That is, the group stands to benefit the most if the stock rises (or lose the most if there is a downturn).Given the vast amount of money and research capacities at their disposal, institutional ownership tends to carry a lot of weight, especially with individual investors. Therefore, a good portion of institutional money invested in the company is usually a huge vote of confidence on its future.Let's delve deeper into each type of owner of Bank of New York Mellon, beginning with the chart below. Check out our latest analysis for Bank of New York Mellon ownership-breakdownWhat Does The Institutional Ownership Tell Us About Bank of New York Mellon?Institutional investors commonly compare their own returns to the returns of a commonly followed index. So they generally do consider buying larger companies that are included in the relevant benchmark index.As you can see, institutional investors have a fair amount of stake in Bank of New York Mellon. This can indicate that the company has a certain degree of credibility in the investment community. However, it is best to be wary of relying on the supposed validation that comes with institutional investors. They too, get it wrong sometimes. When multiple institutions own a stock, there's always a risk that they are in a 'crowded trade'. When such a trade goes wrong, multiple parties may compete to sell stock fast. This risk is higher in a company without a history of growth. You can see Bank of New York Mellon's historic earnings and revenue below, but keep in mind there's always more to the story.Story continuesearnings-and-revenue-growthSince institutional investors own more than half the issued stock, the board will likely have to pay attention to their preferences. Bank of New York Mellon is not owned by hedge funds. The Vanguard Group, Inc. is currently the largest shareholder, with 9.8% of shares outstanding. Meanwhile, the second and third largest shareholders, hold 8.5% and 7.7%, of the shares outstanding, respectively.After doing some more digging, we found that the top 16 have the combined ownership of 50% in the company, suggesting that no single shareholder has significant control over the company.While it makes sense to study institutional ownership data for a company, it also makes sense to study analyst sentiments to know which way the wind is blowing. There are a reasonable number of analysts covering the stock, so it might be useful to find out their aggregate view on the future.Insider Ownership Of Bank of New York MellonThe definition of an insider can differ slightly between different countries, but members of the board of directors always count. Company management run the business, but the CEO will answer to the board, even if he or she is a member of it.I generally consider insider ownership to be a good thing. However, on some occasions it makes it more difficult for other shareholders to hold the board accountable for decisions.Our information suggests that The Bank of New York Mellon Corporation insiders own under 1% of the company. As it is a large company, we'd only expect insiders to own a small percentage of it. But it's worth noting that they own US$74m worth of shares. It is always good to see at least some insider ownership, but it might be worth checking if those insiders have been selling. General Public OwnershipThe general public-- including retail investors -- own 14% stake in the company, and hence can't easily be ignored. While this size of ownership may not be enough to sway a policy decision in their favour, they can still make a collective impact on company policies.Next Steps:It's always worth thinking about the different groups who own shares in a company. But to understand Bank of New York Mellon better, we need to consider many other factors. Be aware that Bank of New York Mellon is showing 1 warning sign in our investment analysis , you should know about...If you are like me, you may want to think about whether this company will grow or shrink. Luckily, you can check this free report showing analyst forecasts for its future.NB: Figures in this article are calculated using data from the last twelve months, which refer to the 12-month period ending on the last date of the month the financial statement is dated. This may not be consistent with full year annual report figures.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.

Simply Wall St.

The Bank of New York Mellon Corporation (NYSE:BK) is favoured by institutional owners who hold 86% of the company

https://finance.yahoo.com/news/bank-york-mellon-corporation-nyse-110019686.html

a744d2d6-66d4-3da5-a33a-a4e2af2f382e

BK

Four years ago, the West led other regions in terms of jobs growth, and salaries in major cities commanded a hefty premium over their smaller counterparts. Cities across the Sunbelt are now adding jobs at a chart-topping rate, while the traditional superstar cities such as San Francisco have had many companies pick up and move, with workers and their employers seeking better living and affordability elsewhere. At the same time, the pay bump that once accompanied a big-city posting has in many cases come down to earth, while salaries in other regions have risen.Continue reading

The Wall Street Journal

The New Job Hot-Spots: Phoenix, Orlando and Albuquerque

https://finance.yahoo.com/m/d62ec2a5-f995-339a-926a-93c57a90bf8c/the-new-job-hot-spots-.html

d62ec2a5-f995-339a-926a-93c57a90bf8c

BK

Over the past year, many The Bank of New York Mellon Corporation (NYSE:BK) insiders sold a significant stake in the company which may have piqued investors' interest. When evaluating insider transactions, knowing whether insiders are buying versus if they selling is usually more beneficial, as the latter can be open to many interpretations. However, when multiple insiders sell stock over a specific duration, shareholders should take notice as that could possibly be a red flag.While we would never suggest that investors should base their decisions solely on what the directors of a company have been doing, we would consider it foolish to ignore insider transactions altogether. See our latest analysis for Bank of New York Mellon Bank of New York Mellon Insider Transactions Over The Last YearThe Senior Executive VP & Global Head of Wealth Management, Catherine Keating, made the biggest insider sale in the last 12 months. That single transaction was for US$1.7m worth of shares at a price of US$55.01 each. So it's clear an insider wanted to take some cash off the table, even slightly below the current price of US$55.47. We generally consider it a negative if insiders have been selling, especially if they did so below the current price, because it implies that they considered a lower price to be reasonable. However, while insider selling is sometimes discouraging, it's only a weak signal. This single sale was just 45% of Catherine Keating's stake.Bank of New York Mellon insiders didn't buy any shares over the last year. You can see the insider transactions (by companies and individuals) over the last year depicted in the chart below. By clicking on the graph below, you can see the precise details of each insider transaction!insider-trading-volumeIf you like to buy stocks that insiders are buying, rather than selling, then you might just love this free list of companies. (Hint: insiders have been buying them).Bank of New York Mellon Insiders Are Selling The StockThe last three months saw significant insider selling at Bank of New York Mellon. In total, insiders sold US$2.8m worth of shares in that time, and we didn't record any purchases whatsoever. Overall this makes us a bit cautious, but it's not the be all and end all.Story continuesDoes Bank of New York Mellon Boast High Insider Ownership?I like to look at how many shares insiders own in a company, to help inform my view of how aligned they are with insiders. We usually like to see fairly high levels of insider ownership. Bank of New York Mellon insiders own about US$86m worth of shares. That equates to 0.2% of the company. We've certainly seen higher levels of insider ownership elsewhere, but these holdings are enough to suggest alignment between insiders and the other shareholders.What Might The Insider Transactions At Bank of New York Mellon Tell Us?Insiders sold stock recently, but they haven't been buying. Looking to the last twelve months, our data doesn't show any insider buying. On the plus side, Bank of New York Mellon makes money, and is growing profits. Insider ownership isn't particularly high, so this analysis makes us cautious about the company. We're in no rush to buy! While we like knowing what's going on with the insider's ownership and transactions, we make sure to also consider what risks are facing a stock before making any investment decision. You'd be interested to know, that we found 1 warning sign for Bank of New York Mellon and we suggest you have a look.Of course Bank of New York Mellon may not be the best stock to buy. So you may wish to see this free collection of high quality 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 of direct interests only, but not derivative transactions or indirect interests.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.

Simply Wall St.

Bank of New York Mellon Insiders Sold US$5.1m Of Shares Suggesting Hesitancy

https://finance.yahoo.com/news/bank-york-mellon-insiders-sold-120016472.html

310235ea-ce31-355e-982d-b5b63751a0cf

BKNG

Travel booking companies are foretelling a moderation in consumer demand to come in 2024. Pantheon Macroeconomics Founder and Chief Economist Ian Shepherdson joins Yahoo Finance as part of the Travel Guide 2024: Industry Insights special, commenting on wage growth and consumers' savings coming out of the COVID-19 pandemic."There's a lot less savings hanging around that was built up during the pandemic. And if you look at the distribution of where that money is still sat, it's almost entirely in the hands of the top 20%. Most households now don't have any of the pandemic savings still remain, so they can't spend it again — they spent it once, they can't do it again," Shepherdson says. "So, I think that suggests maybe a dichotomy where if you're at the top end of the business — the travel and leisure sectors, and maybe even in terms of goods as well — your customers still have money. But most households, by definition, are not in the top 20%, and they're going to find things much more difficult."Catch more of Yahoo Finance's Travel Guide 2024: Industry Insights special coverage this week, or watch this full episode of Yahoo Finance Live here.Editor's note: This article was written by Luke Carberry Mogan.Video TranscriptSEANA SMITH: Can that strong consumer that reignited the revenge travel surge in 2023 still keep the economy afloat? Now, recent quarterly results from Expedia, Airbnb, Booking.com just to name a few pointing to a moderation in consumer spending. Now, this comes as Americans pull back on their discretionary spending. So what does that tell us about the consumer, and more broadly speaking, about the economy?Joining us now as part of Yahoo Finance's travel guide 2024 industry insights is Ian Shepherdson. He's Pantheon macroeconomics founder and chief economist. It's good to have you here. So let's talk about just what you're seeing, the trends that you're noticing from the consumer because we spent months and months and months talking about the fact that nothing is prompting Americans, consumers to really pull back on spending, yet we're starting to see that shift just a bit.Story continuesIAN SHEPHERDSON: Yeah. I like the word moderation. I think that's a pretty fair description of what's likely to happen over the course of this year. You know, there's a couple of things to think about. First of all, there's just a bit less cash flow around for the consumer than there was last year. We've got slightly slower payroll growth, slower wage growth. We've got a much smaller annual uplift of Social Security payments this year, which gave 70 million people last year an 8.7% pay increase in January. This year, it's 3.2%.And then on the balance sheet side of the consumer story, there's a lot less savings hanging around that was built up during the pandemic. And if you look at the distribution of where that money is still sat, it's almost entirely in the hands of the top 20%. Most households now don't have any of the pandemic savings still remaining. So they can't spend it again. They spent it once. They can't do it again.So I think that suggests maybe a dichotomy where if you're at the top end of the business, the travel, the leisure sectors, and maybe even in terms of goods as well, your customers still have money. But most households by definition are not in the top 20%. And they're going to find things much more difficult. They're going to be relying on cash flow rather than savings. And they've got a lot less cash flow than they did. So I can see that bifurcation. And in the mass market, yeah, I think the moderation will become quite visible over the next few months.BRAD SMITH: And so how does that flow through to some of the companies that we were just laying out here? Where perhaps in that discretionary spend here on the experience economy and in that travel experience are you seeing consumers at least think about perhaps trading down?IAN SHEPHERDSON: Yes, trading down. But at the very high end, I think things are going to be fine. The stock market has boomed over the last few months, and a lot of the people in the top 20%, especially the 1%, are still holding onto huge gains both in cash and other less liquid assets that they've accumulated over the last few years. It's more the kind of middle and lower end of the market that's, I think, going to be struggling for occupancy or for people's willingness to spend on extras.All the trading up that we saw in that sort of post pandemic surge of the revenge spending in restaurants and leisure activities and concerts and movies and all that sort of stuff, at the margin, I would expect that the extra dollar that we were seeing over the last couple of years just not to be there to quite such a same extent. I don't overdo this. I'm not looking for the consumer to roll over at all.But real income growth after tax last year grew by more than 4%, which is almost double the long-run average. There was a lot of money around. This year, it'll be more like two, which is a little bit below the long-run average. So not terrible. But I think if anyone's in the consumer facing world just extrapolating what they saw in '23 and hoping to get a repeat performance in '24, that's going to be a struggle.SEANA SMITH: Seeing as we have consumers pushing back on higher spending, consumers trading down in some instances, what do you think that tells us then about that last mile fight here to ease inflation? Or, in fact, are we going to see maybe inflation continue to ease in that last mile won't be as tough as maybe some forecasters had initially anticipated?IAN SHEPHERDSON: Yeah. I mean, there's been a lot of hysteria over one, not great inflation print for January. But if you look at the performance over the second half of last year, the core PCE deflator, which is the number the Fed really cares about, that was 2% annualized in the third quarter and 2% annualized in the fourth quarter. I mean, that's the target rate.So we've made an enormous amount of progress. And I'm not really worried that it's going to be difficult to keep it down at that rate in the foreseeable future. Yeah, you get bad months. You might even get a bad quarter. But the big picture is, I think, one of much less pressure across supply chains.We're not seeing expanding margins like we saw in '22/'23. And in some sectors, margins have come down quite a lot. That's why used car prices are falling so fast because dealers' margins have dropped very sharply. And I think we'll see that spreading across more sectors as consumers, again, make that marginal decision with the extra dollar to keep it rather than to spend it.So that should keep a bit of a lid on some of the inflation pressure as well. And across a big array of services, it's really all about the labor market. And the fact is that wage growth, which was at the peak 6% is now heading rapidly down to less than 4%. So all of these things are moving in the right direction. Some of it's still in the pipeline rather than in the CPI and the PCE inflation data, but it'll get there. It's just a matter of time.BRAD SMITH: With regard to that, leisure and hospitality was, of course, the hardest hit over the course of the pandemic and then had some of the biggest comeback that it needed to make as well in the labor and employment situation. Where are we starting to see that normalize?IAN SHEPHERDSON: Oh, I mean I think you can see pretty clearly that total frenzy of rehiring that we saw beginning in the summer of '21 and stretching really right the way through '22, that's pretty much over now. And what's interesting is that you can see that in the way that employees are behaving because what we saw in '21 and '22 was a huge increase in the number of people voluntarily quitting their jobs just so they could walk across the street to a different hotel or a different restaurant and pick up a pay raise. Great. Why wouldn't you do that?And we saw that behavior on a scale that we've never seen before in '21 and '22. And now it's back to normal. So the quits rate, which is the official measure of this behavior is now exactly where it was in 2018/19. And we know that the number of job openings is declining pretty steadily. And we know that wage growth is slowing as well. So we've got a fairly uniform picture here of a labor market that's beginning to look recognizably normal looking back at the pre-pandemic period.And in that pre-pandemic period, we did not have an inflation problem. In fact, most of the 10 years running up to the pandemic, we were fretting, Fed was fretting that inflation was too low. I'm not suggesting we're immediately going to go back to inflation that's too low, but I do think we're heading back to the conditions where getting to the target and staying there is an entirely sensible forecast at this point.SEANA SMITH: Ian Shepherdson, really interesting insight. Thanks so much for taking the time to join us here this morning. Pantheon macroeconomics founder and chief economist, thanks so much, Ian.

Yahoo Finance Video

Travel economy: Post-pandemic demand expected to moderate

https://finance.yahoo.com/video/travel-economy-post-pandemic-demand-165950697.html

b83c8c57-1792-3466-b7ab-48251cecdad2

BKNG

A file photo of Tripadvisor decals on the doors of the Art Institute of Chicago. Source: Skift SkiftOne of the knocks on Tripadvisor a decade ago was that it was too dependent on its two largest advertisers, Expedia and the Priceline Group.Major online travel agencies like Expedia and Priceline Group, now called Booking Holdings, advertise their hotel rates in metasearch engines like Google Hotels, Tripadvisor and Trivago to attract bookings.Before Google Hotels came along, offering its own hotel metasearch or price comparison feature, online travel agencies and some hotels considered advertising in Tripadvisor metasearch a “must-have.”The image shows Booking.com, Agoda and Trip.com ads in Tripadvisor hotel metasearch on February 26, 2023. Source: TripadvisorTripadvisor 2023 Versus Tripadvisor 2013In 2013, advertisers Expedia and Priceline and their affiliated brands, such as Hotels.com and Booking.com, respectively, accounted for 47% of Tripadvisor’s revenue.In 2023, Expedia Group and Booking Holdings, generated only 25% of Tripadvisor’s total revenue, according to a recent financial filing.In 2022, the duo was responsible for 35% of Tripadvisor’s revenue so their participation dropped 10 percentage points in a single year.More Viator, Less MetasearchTripadvisor’s reduced dependence on Expedia and Booking is mostly a good thing. The concern was always that if one or both decided to stop advertising in Tripadvisor’s hotel metasearch or price comparison service, then Tripadvisor would suffer.That happened to Trivago in 2017. It was even more reliant on the two big online travel agencies than Tripadvisor. It made some site changes around that time that angered Booking Holdings executives and prompted them to reduce their advertising on Trivago – its revenue and profits nosedived.Tripadvisor’s reduced dependence on Expedia and Booking Holdings advertising speak to the rising contribution of Viator, which Tripadvisor acquired in 2014 for $200 million.Its dining reservations platform, TheFork, is also a factor, though to a lesser extent.Story continues“The percentage of revenue concentration from partners is impacted by higher growth across non-hotel categories, particularly experiences and dining — as the non-hotel categories become a larger percent of total revenue, this concentration percentage is impacted,” a Tripadvisor spokesperson told Skift Monday.In 2023, Viator and TheFork accounted for 41.2% and 8.6% of Tripadvisor’s total revenue, respectively. Backed by a marketing campaign, Viator’s 2023 revenue jumped 49% year-over-year, and it was the fastest-growing segment in Tripadvisor’s portfolio.Tripadvisor’s formerly core business, hotel metasearch and business subscription services, has been declining as a percentage of total revenue for several years.The Google FactorAs Tripadvisor noted in its recent annual report: “We believe our SEO traffic acquisition performance has been negatively impacted in the past, and may be impacted in the future, by metasearch and search engines (primarily Google) changing their search result placement and underlying algorithms, including to increase the prominence of their own products in search results across our business, most notably within our hotel meta offering within our Brand Tripadvisor segment.”So Tripadvisor has diversified its revenue streams, and its hotel metasearch service, stung by Google, has been less of a must-have for major online travel agency advertisers.Get breaking travel news and exclusive hotel, airline, and tourism research and insights at Skift.com.

Skift

Tripadvisor Isn’t as Dependent on Its 2 Biggest Advertisers Anymore

https://finance.yahoo.com/news/tripadvisor-isn-t-dependent-2-222429304.html

3dfd3ee8-ba9b-3120-b3fd-7ca04d6d69b8

BKNG

In this article, we will be covering the 20 largest travel companies in the world. If you want to skip our detailed analysis of the travel and tourism industry, you can go directly to 5 Largest Travel Companies In The World.The travel and tourism sector plays a vital role in global economies. It creates jobs, fosters cultural exchange, and supports local businesses. It promotes understanding between nations while also contributing significantly to GDP growth. According to the World Travel & Tourism Council (WTTC), travel and tourism accounted for 7.6% of global GDP in 2022 while also creating 22 million new jobs around the world.An Analysis of the Global Travel and Tourism IndustryThe travel and tourism sector plays a crucial role in addressing societal and economic challenges. The industry is now thriving after being severely impacted during the peak of the COVID-19 crisis, which led to travel restrictions, cancellations, and a sharp decline in tourism activities. According to a report by Market Research Future, the global travel and tourism market reached a value of $648.03 billion in 2023. The market is expected to grow at a compound annual growth rate (CAGR) of 5.8% from 2023 to 2032 and reach a value of more than $1.01 trillion by the end of the forecasted period. The North American region leads the global travel and tourism market, while Europe follows as the second-largest market. The Asia-Pacific region is anticipated to exhibit the fastest growth in the industry during the forecasted period.The travel and tourism market is undergoing a digital transformation with online booking platforms, travel agencies, mobile apps, and online travel-related services driving growth by enhancing connectivity and providing convenient and personalized traveler experiences. The trend of cultural and experiential tourism, with travelers seeking authentic, immersive experiences, unique destinations, and local experiences, is also a key factor driving market growth. Moreover, the rise in disposable incomes, especially in emerging markets, is leading to increased tourism. More people have the means to explore domestic and international destinations. According to the World Travel & Tourism Council (WTTC), domestic visitor spending saw an increase of 20.4% in 2022. On the other hand, international visitor spending went up by 81.9% in 2022.Story continuesWhat are Some of the Biggest Companies in the Travel and Tourism Industry Up To?Prominent companies in the travel and tourism industry are actively pursuing various strategies to expand their global presence and increase their profitability. Some of the most notable names are Marriott International Inc. (NYSE:MAR), Hilton Worldwide Holdings Inc. (NYSE:HLT), and Booking Holdings Inc. (NASDAQ:BKNG).Booking Holdings Inc. (NASDAQ:BKNG) is one of the world’s largest providers of online travel and related services. It provides online travel services in more than 220 countries through its brands which include Booking.com, Priceline, Agoda, KAYAK, and OpenTable. Booking Holdings Inc. (NASDAQ:BKNG) is also one of the best travel stocks to buy. On February 22, Booking Holdings Inc. (NASDAQ:BKNG) reported strong earnings for the fiscal fourth quarter of 2023. The company reported earnings per share (EPS) of $32, surpassing EPS estimates by $1.95. The company’s revenue for the quarter grew by 18.15% year-over-year and amounted to $4.78 billion, ahead of market consensus by $73.37 million. Here are some comments from Booking Holdings Inc.’s (NASDAQ:BKNG) Q4 2023 earnings call:“As we look to the year ahead, we see strong growth on the books for travel that’s scheduled to take place in 2024, which gives early indications of potentially another record summer travel season. As we’ve noted previously, a high percentage of these bookings are capable and what is on the books today for the summer period represents a small percentage of the total bookings that we expect to ultimately receive. David will provide further details on fourth quarter results and on our thoughts about the first quarter and full year 2024. Looking back at the full year of 2023, I am proud of our efforts to drive more benefits to our travelers and supply partners while also delivering record-setting industry-leading financial results. We reached a significant milestone last year with our customers’ booking an all-time high of over 1 billion room nights on our platform, which was an increase of 17% versus 2022.”As the demand for travel and tourism continues to grow, companies operating in this space are launching new products, engaging in mergers and acquisitions, increasing investments, and forming contracts and collaborations. Marriott International Inc. (NYSE:MAR) is an American multinational hospitality company. It operates and franchises hotels and licenses vacation ownership resorts in more than 130 countries around the world. On March 7, Marriott International Inc. (NYSE:MAR) announced that it has entered into an agreement with Victoria Park Hotels Ltd. to launch The Park Lane Hong Kong, Autograph Collection. This new addition is set to become part of Autograph Collection Hotels by early 2025. Autograph Collection Hotels’ portfolio includes more than 300 independent properties in some of the most desirable locations around the world. Situated within a 28-story mixed-use complex featuring retail spaces on the lower floors, the new hotel is projected to have 820 guest rooms, an executive lounge, 3 unique dining venues, extensive event spaces spanning over 1,700 square meters, and various recreational facilities. Some of the guest rooms will boast stunning views of Victoria Harbour, while others will overlook the city or Victoria Park in Hong Kong.On February 7, Hilton Worldwide Holdings Inc. (NYSE:HLT) announced an exclusive strategic partnership with Small Luxury Hotels of the World (SLH) that will introduce guests of Hilton Worldwide Holdings Inc. (NYSE:HLT) to a wide range of hotels in some of the most popular destinations around the world. This collaboration will significantly enhance Hilton Worldwide Holdings Inc.’s (NYSE:HLT) luxury offerings as unique SLH properties become part of the esteemed Waldorf Astoria Hotels & Resorts, Conrad Hotels & Resorts, and LXR Hotels & Resorts brands.Now that we have discussed what’s going on in the global travel and tourism industry, let’s take a look at the 20 largest travel companies in the world.20 Largest Travel Companies In The WorldA line of travellers queuing for a commercial flight, emphasizing the airport management operations.MethodologyIn this article, we have listed the 20 largest travel companies in the world. To find the top travel companies in the world, we sifted through various sources including industry reports, our own rankings in addition to rankings available on various websites, and consulted stock screeners from Yahoo Finance and Finviz. For companies that are publicly traded, we decided to rank them according to their market capitalization as of March 9. We used fiscal year revenues to rank the companies that are not publicly traded. For foreign companies, we converted the market caps and revenues to US dollars according to their respective exchange rates, as of March 9. Finally, we narrowed down our selection to rank the 20 largest travel companies in the world based on their market capitalization and revenues, which are listed below in ascending order.20 Largest Travel Companies In The World20. Host Hotels & Resorts Inc. (NYSE:HST)Market Capitalization: $14.9 BillionHost Hotels & Resorts Inc. (NYSE:HST) is a major American lodging real estate investment trust (REIT) that invests in hotels. It owns a diverse portfolio of luxury and upper-upscale hotels. Host Hotels & Resorts Inc. (NYSE:HST) has a market capitalization of $14.9 billion as of March 9, 2024.19. Hyatt Hotels Corporation (NYSE:H)Market Capitalization: $16.12 BillionHyatt Hotels Corporation (NYSE:H) is an American multinational hospitality company. As one of the world’s top hospitality companies, it manages and franchises luxury and business hotels, resorts, and vacation properties in more than 70 countries across 6 continents. As of March 9, 2024, Hyatt Hotels Corporation (NYSE:H) has a market capitalization of $16.12 billion.18. InterContinental Hotels Group PLC (NYSE:IHG)Market Capitalization: $17.4 BillionInterContinental Hotels Group PLC (NYSE:IHG) is a British multinational hospitality company. With more than 6,000 hotels in over 100 countries, it is one of the world’s leading hotel companies. InterContinental Hotels Group PLC (NYSE:IHG) has a market capitalization of $17.4 billion as of March 9, 2024. It ranks 18th on our list of the 20 biggest travel companies in the world.17. Expedia Group Inc. (NASDAQ:EXPE)Market Capitalization: $18.5 BillionExpedia Group Inc. (NASDAQ:EXPE) is an American travel technology company. As one of the top travel agencies in the world, it owns and operates various brands including Expedia, Hotels.com, CarRentals.com, Vrbo, Travelocity, Trivago, Orbitz, Ebookers, CheapTickets, and Expedia Cruises. As of March 9, 2024, Expedia Group Inc. (NASDAQ:EXPE) has a market capitalization of $18.5 billion.16. Southwest Airlines Co. (NYSE:LUV)Market Capitalization: $20.44 BillionSouthwest Airlines Co. (NYSE:LUV) is an American airline company. It offers low-cost air travel service with frequent flights of mostly short routes. As one of the biggest travel companies in the world, Southwest Airlines Co. (NYSE:LUV) has a market capitalization of $20.44 billion as of March 9, 2024.15. Qatar Airways GroupRevenue: $21 BillionQatar Airways Group is the flag carrier of Qatar. Owned by the Government of Qatar, it is one of the world’s top airlines and it currently flies to over 170 international destinations. Qatar Airways Group generated an annual revenue of $21 billion in the year 2022-2023. It ranks among the top 15 on our list of the 20 largest travel companies in the world.14. Carnival Corporation & plc (NYSE:CCL)Market Capitalization: $21.38 BillionCarnival Corporation & plc (NYSE:CCL) is a British-American cruise operator. As one of the world's largest leisure travel companies, it owns some of the most well-known cruise line brands in North America, the United Kingdom, Germany, Italy, and Australia. Carnival Corporation & plc (NYSE:CCL) has a market capitalization of $21.38 billion as of March 9, 2024.13. Galaxy Entertainment Group Limited (SEHK:0027)Market Capitalization: $21.83 BillionGalaxy Entertainment Group Limited (SEHK:0027) is one of Asia’s top developers and operators of integrated entertainment and resort facilities. It owns and operates a broad portfolio of integrated resort, retail, dining, hotel, and gaming facilities in Macau. As one of the top travel companies in the world, Galaxy Entertainment Group Limited (SEHK:0027) has a market capitalization of $21.83 billion as of March 9, 2024.12. Delta Air Lines Inc. (NYSE:DAL)Market Capitalization: $27.17 BillionDelta Air Lines Inc. (NYSE:DAL) is one of America’s major airlines. It is also one of the world’s largest airlines by number of passengers carried. As one of the top travel companies in the world, Delta Air Lines Inc. (NYSE:DAL) has a market capitalization of $27.17 billion as of March 9, 2024.11. Amadeus IT Group S.A. (BME:AMS)Market Capitalization: $27.31 BillionAmadeus IT Group S.A. (BME:AMS) is a Spanish multinational technology company that develops technology and software for airlines, travel agencies, hotels, payment providers, and other travel-related businesses to enhance their operations and customer experiences. With a presence in more than 190 countries, the company provides software solutions for the global travel and tourism industry. As of March 9, 2024, Amadeus IT Group S.A. (BME:AMS) has a market capitalization of $27.31 billion.10. Trip.com Group Limited (NASDAQ:TCOM)Market Capitalization: $28.27 BillionTrip.com Group Limited (NASDAQ:TCOM) is a multinational travel service company that ranks among the top 10 on our list of the largest travel companies in the world. It owns and operates several travel agencies and travel fare aggregators including Ctrip, Qunar, Trip.com and Skyscanner. As of March 9, 2024, Trip.com Group Limited (NASDAQ:TCOM) has a market capitalization of $28.27 billion.9. Ryanair Holdings plc (NASDAQ:RYAAY)Market Capitalization: $32.3 BillionRyanair Holdings plc (NASDAQ:RYAAY) is an Irish airline company. As one of Europe's largest airline groups, it is the parent company of Ryanair, Ryanair UK, Buzz, Lauda, and Malta Air. With a market capitalization of $32.3 billion as of March 9, 2024, Ryanair Holdings plc (NASDAQ:RYAAY) ranks 9th on our list of the 20 largest travel companies in the world.8. Emirates GroupRevenue: $32.6 BillionEmirates Group is Dubai’s state-owned international aviation holding company. It owns Dubai National Air Travel Agency (dnata), an airport and ground services company, and Emirates Airline, one of the largest airlines in the Middle East. Emirates Group generated an annual revenue of $32.6 billion in the year 2022-2023.7. Royal Caribbean Cruises Ltd. (NYSE:RCL)Market Capitalization: $32.71 BillionRoyal Caribbean Cruises Ltd. (NYSE:RCL) is a global cruise holding company that owns and operates cruise brands including Royal Caribbean International, Celebrity Cruises, and Silversea Cruises. As one of the world’s largest cruise line operators, Royal Caribbean Cruises Ltd. (NYSE:RCL) has a global fleet of 65 ships traveling to around 1,000 destinations around the world. The company has a market capitalization of $32.71 billion as of March 9, 2024.6. Las Vegas Sands Corp. (NYSE:LVS)Market Capitalization: $38.81 BillionLas Vegas Sands Corp. (NYSE:LVS) is an American casino and resort company that owns and operates integrated resorts in Macao and Singapore. As a driver of valuable leisure and business tourism, it is one of the world’s largest hotel and casino companies. With a market capitalization of $38.81 billion as of March 9, 2024, Las Vegas Sands Corp. (NYSE:LVS) ranks 6th on our list of the 20 largest travel companies in the world.Click to continue reading and see 5 Largest Travel Companies In The World.Suggested Articles:40 Most Polluted Cities in the World in 202420 Countries with the Strongest Paramilitary Forces in the World15 Sunniest Cities in EuropeDisclosure: None. 20 Largest Travel Companies In The World is published on Insider Monkey.

Insider Monkey

20 Largest Travel Companies In The World

https://finance.yahoo.com/news/20-largest-travel-companies-world-180018353.html

f7019cdb-8fb0-3878-92c1-5d248c647fc3

BKNG

In this article, we are going to discuss the 15 countries with the most beautiful nature in Europe. You can skip our detailed analysis of the global tourism industry, the largest travel company in the world, and the need for sustainable tourism, and go directly to the 5 Countries With the Most Beautiful Nature in Europe.There's simply no better place to take a break and let go of everyday stress than out in nature. Being surrounded by this planet’s raw, enchanting beauty can help us relax and rejuvenate our soul, reminding us to pay attention and be in the moment. The sights, sounds, and smells of Mother Earth are sometimes far too alluring for us biophiles, and so when the vast outdoors call, we make sure to answer. The Global Tourism Industry:Tourism has evolved into a massive industry with time, encompassing several other sectors, such as hospitality, transport, entertainment etc. In 1950, at the dawn of the jet age, just 25 million people took foreign trips, and by 2019, that number had reached a mammoth 1.5 billion. As we mentioned in our article – 15 Countries with the Most Beautiful Culture in the World – the global Travel & Tourism (T&T) industry is expected to grow at a CAGR of 3.1% between 2021 and 2026, to be worth an estimated $8.9 trillion by the end of the forecast period. The World Tourism and Travel Council has reported that the T&T sector contributed 7.6% to the global GDP in 2022, an increase of 22% from 2021 and only 23% below the pre-pandemic 2019 levels.Largest Travel Company in the World: With a market cap of over $119 billion as of the writing of this piece, Booking Holdings Inc. (NASDAQ:BKNG) holds the title of being the largest travel company in the world. Operating in over 220 countries and 40 different languages, there are more than 28 million global listings available between hotels, homes, and apartments under the Booking travel sites. The Connecticut-based travel technology company also strongly felt the shocks of the pandemic when its revenue fell by almost 55%, from $15.06 billion in 2019, to $6.8 billion in 2020. However, Booking Holdings Inc. (NASDAQ:BKNG) bounced back strongly and boasted a revenue of $17.09 billion in 2022 after the revival of international tourism, even higher than its pre-pandemic levels. The platform has also recently started conversational trip planning with ChatGPT. Story continuesBooking Holdings Inc. (NASDAQ:BKNG) is ranked among the 13 Best Major Stocks to Buy Right Now.The Need for Sustainable Tourism: Sustainable tourism can be defined as a kind of tourism that has more positive than negative impacts, especially relating to the environment, the economy, and communities. The popularity of beaches/forests/mountains etc as ideal getaways leads to overflowing masses of tourists every year, putting these unique yet fragile environments at risk.Hilton Worldwide Holdings Inc. (NYSE:HLT) is among the most recognizable names in the hospitality industry. The Virginia-based company manages and franchises a broad portfolio of the best beach resorts and eco-hotels, steps away from some of the most picturesque natural environments in the world. Hilton’s global Travel with Purpose strategy aims to reduce the operational environmental footprint of the group’s hotels worldwide, enabling guests to travel more sustainably and paving the way towards a net-zero future for the hospitality industry. From preserving mangroves in Curaçao to restoring the United Kingdom’s woodland areas through exceptional conservation, ecotourism is already the way of the future for Hilton Worldwide Holdings Inc. (NYSE:HLT). Hilton Worldwide plans to open 24 new hotels globally in 2024, including company debuts in Asia-Pacific and Europe, and brand debuts in the United States, the company announced in November 2023. Hilton Worldwide Holdings Inc. (NYSE:HLT) ranks among the Most Valuable Hotel Companies in the World. WIth that said, here are the European Countries with the Best Nature. 15 Countries With the Most Beautiful Nature in Europe186PIX/Shutterstock.comMethodology:To collect data for this article, we have referred to sources such as Travel + Leisure, Forbes, Condé Nast Traveler, Reddit etc., looking for the European Countries with the Most Beautiful Nature. To make sure we give you the best of the best, we only shortlisted countries that appeared multiple times in the aforementioned sources, assigned them a score based on their number of appearances, and ranked them accordingly. When two or more countries had the same score, we ranked them by the number of foreign tourists they received in 2022 instead. By the way, Insider Monkey is an investing website that tracks the movements of corporate insiders and hedge funds. By using a similar consensus approach, we identify the best stock picks of more than 900 hedge funds investing in US stocks. The top 10 consensus stock picks of hedge funds outperformed the S&P 500 Index by more than 140 percentage points over the last 10 years (see the details here). Whether you are a beginner investor or professional one looking for the best stocks to buy, you can benefit from the wisdom of hedge funds and corporate insiders.15. MontenegroInsider Monkey Score: 7This small Balkan country is a must-see destination to visit an incredible combination of wild nature, rich culture, and magnificent beaches. With the Bay of Kotor on one side and mountains on the other, the tiny picturesque town of Kotor is truly a sight to behold. Brimming with breathtaking mountain sceneries, gleaming lakes, and magical towns, Montenegro proves that good things do indeed come in small packages.14. IrelandInsider Monkey Score: 8A land of unparalleled natural beauty, it is impossible to visit Ireland and not helplessly and hopelessly fall in love with it. A lush green land of rolling hills, dramatic coastline, windswept isles, and incredible, natural scenery, Ireland is a paradise for a lover of the outdoors.Home to more than 30,000 castles and ruins, most dating from the 12th to 16th centuries, The Emerald Isle is also included among the Countries with the Most Beautiful Castles in the World. 13. SloveniaInsider Monkey Score: 9The small yet mighty country of Slovenia is a land of plenty, offering travelers the perfect combination of natural wonders and cultural attractions. This Scenic European Country really does have an almost absurd number of astonishingly beautiful places to visit; from the towering peaks of the Julian Alps in the north to the immense cave systems in the south, Slovenia is a fairy tale come to life.12. SwedenInsider Monkey Score: 9Home to 29 national parks and over 100,000 lakes, this Scandinavian beauty makes for a fine escape to anyone looking for a natural wonderland. The sense of well-being that one feels, the peace and the calm, the exquisite nature, and the quiet, unassuming people, undoubtedly make Sweden one of the Most Beautiful Countries in Europe. 11. PortugalInsider Monkey Score: 11Portugal is raw, real, and natural. Its awe-inspiring mix of terrains, panoramic vistas, and Mediterranean climate can accommodate a myriad of activities and excursions. Famed novelist and Nobel laureate José Saramago even went so far as to declare the hypnotic terraces of the country’s northern Douro Valley, with their winding waterways and green landscapes, as the eighth wonder of the world. Tourism is a key driver of the Portuguese economy, accounting for almost 15% of the national GDP before the pandemic.10. ScotlandInsider Monkey Score: 13Scotland is an amazing destination that tourists always find enthralling. You can find idyllic sites all over the country, from the southeast coast of East Lothian to the far reaches of the Outer Hebrides. Tourism is one of the seven growth industries in Scotland, contributing more than $4.9 billion to the economy each year. The country received around 3.2 million foreign visitors in the year 2022. 9. CroatiaInsider Monkey Score: 13Croatia is among the best ecologically preserved countries in Europe; offering around 1,100 miles of coastline along the Adriatic, over 1,200 islands, 26 rivers, 7 protected marine areas, and 8 national parks. Simply put, Croatia is undoubtedly one of the Most Magical Places in the World. 8. GreeceInsider Monkey Score: 14The Greek islands have long been a sun worshiper’s paradise. Besides the heavenly sands and turquoise waters, the country offers a wealth of mountains, forests, gorges, rivers, lakes, caves, volcanoes, and lagoons, The Greek tourism sector stands to gain from the total $54 billion in funding from the country’s national recovery and resilience plan. Investments in tourism with particular focus on health and wellness as well as spa tourism, gastronomy and diving tourism, port upgrades, beach accessibility, and special training and upskilling programs for tourism sector employees are areas expected to receive funding under the national recovery plan.Greece is included among the Top 10 Beautiful Countries in Europe. 7. AustriaInsider Monkey Score: 15Austria certainly has no shortage of stunning natural attractions, providing excellent scenery and a serene environment where you and your family can relax. With its majestic Alpine ranges and crystal clear lakes, you’re never far away from beautiful scenery in Austria. 6. SwitzerlandInsider Monkey Score: 16Switzerland is truly the epitome of idyllic. With the statuesque Swiss Alps covering more than 60% of the country, Switzerland seduces visitors all year round with some of the best and most astonishing natural scenery not only in Europe, but the whole world. Boasting glacial waterfalls, hiking trails, ski slopes, dramatic cliffs and quaint villages, Lauterbrunnen is easily ranked among the Most Beautiful Places in Europe.Click to continue reading and see the 5 Countries With the Most Beautiful Nature in Europe.Suggested Articles:25 Countries with the Best BeachesTop 20 Most Beautiful Island Countries in the World30 Must-See UNESCO World Heritage SitesDisclosure: None. 15 Countries With the Most Beautiful Nature in Europe is originally published on Insider Monkey.

Insider Monkey

15 Countries With the Most Beautiful Nature in Europe

https://finance.yahoo.com/news/15-countries-most-beautiful-nature-192216490.html

3589d075-1793-36e9-9078-e690315c12ad

BKR

In its weekly release, Baker Hughes Company BKR stated that the U.S. rig count was higher than the prior week’s figure. The rotary rig count, issued by BKR, is usually published in major newspapers and trade publications.Baker Hughes’ data, issued at the end of every week since 1944, helps energy service providers gauge the overall business environment of the oil and gas industry. The number of active rigs and its comparison with the week-ago figure indicates the demand trajectory for the company’s oilfield services from exploration and production companies.Rig Count Data in DetailTotal U.S. Rig Count Rises: The number of rigs engaged in the exploration and production of oil and natural gas in the United States was 626 in the week ended Feb 23. The figure is higher than theweek-ago count of 621. The figure increased in five of the past 10 weeks. However, there has been a slowdown in drilling activities since many analysts believe that shale producers are getting more efficient, requiring fewer rigs, while some doubt whether certain producers have enough prospective land to drill. The current national rig count is, however, lower than the year-ago level of 753.Onshore rigs in the week that ended on Feb 23 totaled 606, increasing from the prior week's count of 602. In offshore resources, 20 rigs were operating, higher than the week-ago count of 19.U.S. Oil Rig Count Increases: The oil rig count was 503 in the week ended Feb 23, increasing from the week-ago figure of 497. The current number of oil rigs — far from the peak of 1,609 attained in October 2014 — is down from the year-ago figure of 600.U.S. Natural Gas Rig Count Falls: The natural gas rig count of 120 was lower than the week-ago figure of 121. The count of rigs exploring the commodity was also below the year-ago week’s 151. Per the latest report, the number of natural gas-directed rigs is 92.5% lower than the all-time high of 1,606 recorded in 2008.Story continuesRig Count by Type: The number of vertical drilling rigs totaled 16 units, which is higher than the week-ago count of 13. The horizontal/directional rig count (encompassing new drilling technology with the ability to drill and extract gas from dense rock formations, also known as shale formations) of 610 rose from the prior-week level of 608.Rig Count in the Most Prolific BasinPermian — the most prolific basin in the United States — recorded a weekly oil rig count of 308, higher than the week-ago figure of 306. The number increased in five of the prior 10 weeks.OutlookThe West Texas Intermediate crude price is trading above the $75-per-barrel mark. Although the commodity pricing scenario is favorable for exploration and production operations, there has been a slowdown in drilling activities, which may continue as upstream players are prioritizing stockholder returns rather than boosting output.Amid the backdrop, investors seeking medium to long-term gains may keep an eye on energy stocks such as Diamondback Energy, Inc. FANG and Matador Resources Company MTDR.Diamondback Energy, a leading pure-play Permian operator, has reported ongoing enhancements in the average productivity per well in the Midland Basin. The exploration and production company is likely to continue witnessing increased production volumes. FANG, carrying a Zacks Rank #3 (Hold) also has an investment-grade balance sheet. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.Matador Resources has a strong presence in the oil-rich core acres of the Wolfcamp and Bone Spring plays in the Delaware Basin. Promising oil prices are likely to aid it in increasing production volumes. Matador acquired Advance Energy Partners Holdings, LLC, which comprises several oil and natural gas-producing properties and undeveloped acreage. Zacks #3 Ranked MTDR expects the buyout to be accretive to important valuation and financial metrics.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 reportBaker Hughes Company (BKR) : Free Stock Analysis ReportDiamondback Energy, Inc. (FANG) : Free Stock Analysis ReportMatador Resources Company (MTDR) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

Permian Oil Drilling Rig Count Rises in 5 of Prior 10 Weeks

https://finance.yahoo.com/news/permian-oil-drilling-rig-count-133600766.html

e2c32509-8ba8-364b-97d3-15a4969bc0ab

BKR

For new and old investors, taking full advantage of the stock market and investing with confidence are common goals.Achieving those goals is made easier with the Zacks Style Scores, a unique set of guidelines that rates stocks based on popular investing methodologies, namely value, growth, and momentum. The Style Scores can help you narrow down which stocks are better for your portfolio and which ones can beat the market over the long-term.Why This 1 Growth Stock Should Be On Your WatchlistDifferent than value or momentum investors, growth-oriented investors are concerned with a stock's future prospects, and the overall financial health and strength of a company. Thus, they'll want to focus on the Growth Style Score, which analyzes characteristics like projected and historical earnings, sales, and cash flow to find stocks that will see sustainable growth over time.Baker Hughes (BKR)Based in Houston, TX, Baker Hughes Company is one of the world’s largest oilfield service providers. The integrated oilfield products and digital solutions of Baker Hughes help customers efficiently and cost-effectively refine and transport hydrocarbons with low environmental concerns. Moreover, with growing demand for clean energy and the need to curb greenhouse gas emissions, countries around the world are investing in LNG terminals. This has given Baker Hughes the opportunity to expand its reach beyond oilfields in order to capitalize on contracts for manufacturing equipment that is being used in LNG facilities.BKR is a Zacks Rank #3 (Hold) stock, with a Growth Style Score of A and VGM Score of A. Earnings are expected to grow 33.1% year-over-year for the current fiscal year, with sales growth of 8%.Seven analysts revised their earnings estimate upwards in the last 60 days, and the Zacks Consensus Estimate has increased $0.08 to $2.13 per share for 2024. BKR boasts an average earnings surprise of 11.4%.On a historic basis, Baker Hughes has generated cash flow growth of 8.9%, and is expected to report cash flow expansion of 37.9% this year.Story continuesWith solid fundamentals, a good Zacks Rank, and top-tier Growth and VGM Style Scores, BKR should be on investors' short lists.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 reportBaker Hughes Company (BKR) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

Are You a Growth Investor? This 1 Stock Could Be the Perfect Pick

https://finance.yahoo.com/news/growth-investor-1-stock-could-144513910.html

466502f4-ea1a-3704-bca1-4544096b4993

BKR

Weatherford (WFRD) shares rallied 6.2% in the last trading session to close at $109.01. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 16.6% gain over the past four weeks.Weatherford’s shares rallied on the last trading day. The bullishness could be attributed to the sustained high oil and gas prices which is encouraging customers to increase drilling activities. Despite a slight pullback from its peak, oil prices remain favorable for exploration and production activities. This has resulted in higher demand for the company’s oilfield services. With the strong demand for its services, Weatherford is well positioned to generate high free cash flows this year.This oilfield service company is expected to post quarterly earnings of $1.41 per share in its upcoming report, which represents a year-over-year change of +45.4%. Revenues are expected to be $1.33 billion, up 11.8% from the year-ago quarter.While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.For Weatherford, the consensus EPS estimate for the quarter has been revised 7% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on WFRD going forward to see if this recent jump can turn into more strength down the road.The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>Weatherford is part of the Zacks Oil and Gas - Field Services industry. Baker Hughes (BKR), another stock in the same industry, closed the last trading session 1.3% higher at $29.96. BKR has returned 3.4% in the past month.Story continuesBaker Hughes' consensus EPS estimate for the upcoming report has changed -5.6% over the past month to $0.40. Compared to the company's year-ago EPS, this represents a change of +42.9%. Baker Hughes currently boasts a Zacks Rank of #3 (Hold).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 reportWeatherford International PLC (WFRD) : Free Stock Analysis ReportBaker Hughes Company (BKR) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

Weatherford (WFRD) Moves 6.2% Higher: Will This Strength Last?

https://finance.yahoo.com/news/weatherford-wfrd-moves-6-2-161900032.html

b98d458e-25e0-378c-b354-42fb94fcf9c4

BKR

In the latest trading session, Baker Hughes (BKR) closed at $30.56, marking a +1.29% move from the previous day. This move outpaced the S&P 500's daily gain of 0.51%. Elsewhere, the Dow saw an upswing of 0.2%, while the tech-heavy Nasdaq appreciated by 0.58%.Prior to today's trading, shares of the oilfield services company had gained 2.65% over the past month. This has lagged the Oils-Energy sector's gain of 4.16% and the S&P 500's gain of 2.94% in that time.The investment community will be paying close attention to the earnings performance of Baker Hughes in its upcoming release. The company's earnings per share (EPS) are projected to be $0.40, reflecting a 42.86% increase from the same quarter last year. In the meantime, our current consensus estimate forecasts the revenue to be $6.32 billion, indicating a 10.55% growth compared to the corresponding quarter of the prior year.BKR's full-year Zacks Consensus Estimates are calling for earnings of $2.03 per share and revenue of $27.54 billion. These results would represent year-over-year changes of +26.88% and +7.96%, respectively.Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Baker Hughes. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational 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 has moved 3.95% lower within the past month. As of now, Baker Hughes holds a Zacks Rank of #3 (Hold).Story continuesLooking at valuation, Baker Hughes is presently trading at a Forward P/E ratio of 14.85. Its industry sports an average Forward P/E of 14.02, so one might conclude that Baker Hughes is trading at a premium comparatively.One should further note that BKR currently holds a PEG ratio of 0.64. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The Oil and Gas - Field Services industry had an average PEG ratio of 0.89 as trading concluded yesterday.The Oil and Gas - Field Services industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 160, putting it in the bottom 37% of all 250+ industries.The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding 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 reportBaker Hughes Company (BKR) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

Baker Hughes (BKR) Outpaces Stock Market Gains: What You Should Know

https://finance.yahoo.com/news/baker-hughes-bkr-outpaces-stock-231509637.html

e46691ac-e57d-3df0-935a-ff639fd9fad6

BLDR

IRVING, Texas, February 26, 2024--(BUSINESS WIRE)--Builders FirstSource, Inc. (NYSE: BLDR) ("Builders FirstSource" or the "Company") today announced that it has launched an offering of $600 million aggregate principal amount of unsecured Senior Notes due 2034 (the "Notes").The Company intends to use the net proceeds from the offering to repay indebtedness outstanding under the ABL Facility and for general corporate purposes.Consummation of the offering of the Notes is subject to market and other conditions, and there can be no assurance that the Company will be able to successfully complete these transactions on the terms described above, or at all.The Notes will not be registered under the Securities Act of 1933, as amended (the "Securities Act"), or any state securities law and may not be offered or sold within the United States or to or for the account of any U.S. person, except pursuant to an exemption from the registration requirements thereof. Accordingly, the Notes will be offered and sold only to (i) persons reasonably believed to be "qualified institutional buyers" (as defined in Rule 144A under the Securities Act) and (ii) non-"U.S. persons" who are outside the United States (as defined in Regulation S under the Securities Act).This news release shall not constitute an offer to sell or the solicitation of an offer to buy the Notes.About Builders FirstSourceHeadquartered in Irving, Texas, Builders FirstSource is the largest U.S. supplier of building products, prefabricated components, and value-added services to the professional market segment for new residential construction and repair and remodeling. We provide customers an integrated homebuilding solution, offering manufacturing, supply, delivery, and installation of a full range of structural and related building products. We operate in 43 states with approximately 570 locations and have a market presence in 48 of the top 50 and 89 of the top 100 MSAs, providing geographic diversity and balanced end market exposure. We service customers from strategically located distribution and manufacturing facilities (some of which are co-located) that produce value-added products such as roof and floor trusses, wall panels, stairs, vinyl windows, custom millwork, and pre-hung doors. Builders FirstSource also distributes dimensional lumber and lumber sheet goods, millwork, windows, interior and exterior doors, and other specialty building products.Story continuesForward-Looking StatementsStatements in this news release that are not purely historical facts or that necessarily depend upon future events, including statements about forecasted financial performance or other statements about anticipations, beliefs, expectations, hopes, synergies, intentions or strategies for the future, may be forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. Readers are cautioned not to place undue reliance on forward-looking statements. In addition, oral statements made by our directors, officers and employees to the investor and analyst communities, media representatives and others, depending upon their nature, may also constitute forward-looking statements. As with the forward-looking statements included in this release, these forward-looking statements are by nature inherently uncertain, and actual results or events may differ materially as a result of many factors. All forward-looking statements are based upon information, assumptions, expectations, and projections about future events available to Builders FirstSource on the date this release was submitted. Builders FirstSource undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Forward-looking statements involve risks and uncertainties, many of which are beyond the Company’s control or may be currently unknown to the Company, that could cause actual events or results to differ materially from the events or results described in the forward-looking statements; such risks or uncertainties include those related to the Company’s growth strategies, including acquisitions, organic growth and digital strategies, or the dependence of the Company’s revenues and operating results on, among other things, the homebuilding industry and, to a lesser extent, repair and remodel activity, which in each case is dependent on economic conditions, including inflation, interest rates, consumer confidence, labor and supply shortages, and also lumber and other commodity prices. Builders FirstSource may not succeed in addressing these and other risks. Further information regarding factors that could affect our financial and other results can be found in the risk factors section of Builders FirstSource’s most recent annual report on Form 10-K filed with the Securities and Exchange Commission (the "SEC") and may also be described from time to time in the other reports Builders FirstSource files with the SEC. Consequently, all forward-looking statements in this release are qualified by the factors, risks and uncertainties contained therein.View source version on businesswire.com: https://www.businesswire.com/news/home/20240225829398/en/ContactsInvestor Contact:Heather KosSVP, Investor RelationsBuilders FirstSource, Inc.investorrelations@bldr.com

Business Wire

Builders FirstSource Launches Offering of $600 Million of Senior Notes due 2034

https://finance.yahoo.com/news/builders-firstsource-launches-offering-600-131600665.html

64e6d4c6-ea73-3ce5-a081-c9b0fe3948f5

BLDR

IRVING, Texas, February 26, 2024--(BUSINESS WIRE)--Builders FirstSource, Inc. (NYSE: BLDR) ("Builders FirstSource" or the "Company") today announced that it has priced an offering of $1 billion aggregate principal amount of 6.375% unsecured Senior Notes due 2034 (the "Notes"), which represents a $400 million increase in the previously announced size of the offering. The price to investors will be 100.000% of the principal amount of the Notes.The offering of the Notes is expected to close on February 29, 2024, subject to customary closing conditions. The Company intends to use the net proceeds from the offering to repay indebtedness outstanding under the ABL Facility and for general corporate purposes.The Notes will not be registered under the Securities Act of 1933, as amended (the "Securities Act"), or any state securities law and may not be offered or sold within the United States or to or for the account of any U.S. person, except pursuant to an exemption from the registration requirements thereof. Accordingly, the Notes were offered and sold only to (i) persons reasonably believed to be "qualified institutional buyers" (as defined in Rule 144A under the Securities Act) and (ii) non-"U.S. persons" who are outside the United States (as defined in Regulation S under the Securities Act).This news release shall not constitute an offer to sell or the solicitation of an offer to buy the Notes.About Builders FirstSourceHeadquartered in Irving, Texas, Builders FirstSource is the largest U.S. supplier of building products, prefabricated components, and value-added services to the professional market segment for new residential construction and repair and remodeling. We provide customers an integrated homebuilding solution, offering manufacturing, supply, delivery, and installation of a full range of structural and related building products. We operate in 43 states with approximately 570 locations and have a market presence in 48 of the top 50 and 89 of the top 100 MSAs, providing geographic diversity and balanced end market exposure. We service customers from strategically located distribution and manufacturing facilities (some of which are co-located) that produce value-added products such as roof and floor trusses, wall panels, stairs, vinyl windows, custom millwork, and pre-hung doors. Builders FirstSource also distributes dimensional lumber and lumber sheet goods, millwork, windows, interior and exterior doors, and other specialty building products.Story continuesForward-Looking StatementsStatements in this news release that are not purely historical facts or that necessarily depend upon future events, including statements about forecasted financial performance or other statements about anticipations, beliefs, expectations, hopes, synergies, intentions or strategies for the future, may be forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. Readers are cautioned not to place undue reliance on forward-looking statements. In addition, oral statements made by our directors, officers and employees to the investor and analyst communities, media representatives and others, depending upon their nature, may also constitute forward-looking statements. As with the forward-looking statements included in this release, these forward-looking statements are by nature inherently uncertain, and actual results or events may differ materially as a result of many factors. All forward-looking statements are based upon information, assumptions, expectations, and projections about future events available to Builders FirstSource on the date this release was submitted. Builders FirstSource undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Forward-looking statements involve risks and uncertainties, many of which are beyond the Company’s control or may be currently unknown to the Company, that could cause actual events or results to differ materially from the events or results described in the forward-looking statements; such risks or uncertainties include those related to the Company’s growth strategies, including acquisitions, organic growth and digital strategies, or the dependence of the Company’s revenues and operating results on, among other things, the homebuilding industry and, to a lesser extent, repair and remodel activity, which in each case is dependent on economic conditions, including inflation, interest rates, consumer confidence, labor and supply shortages, and also lumber and other commodity prices. Builders FirstSource may not succeed in addressing these and other risks. Further information regarding factors that could affect our financial and other results can be found in the risk factors section of Builders FirstSource’s most recent annual report on Form 10-K filed with the Securities and Exchange Commission (the "SEC") and may also be described from time to time in the other reports Builders FirstSource files with the SEC. Consequently, all forward-looking statements in this release are qualified by the factors, risks and uncertainties contained therein.View source version on businesswire.com: https://www.businesswire.com/news/home/20240226818087/en/ContactsInvestor Contact:Heather KosSVP, Investor RelationsBuilders FirstSource, Inc.investorrelations@bldr.com

Business Wire

Builders FirstSource Prices Offering of $1 Billion of Senior Notes due 2034

https://finance.yahoo.com/news/builders-firstsource-prices-offering-1-220800451.html

83f32914-ae16-3b71-bd75-19067e32b06b

BLDR

The recommendations of Wall Street analysts are often relied on by investors when deciding whether to buy, sell, or hold a stock. Media reports about these brokerage-firm-employed (or sell-side) analysts changing their ratings often affect a stock's price. Do they really matter, though?Before we discuss the reliability of brokerage recommendations and how to use them to your advantage, let's see what these Wall Street heavyweights think about Builders FirstSource (BLDR).Builders FirstSource currently has an average brokerage recommendation (ABR) of 1.53, on a scale of 1 to 5 (Strong Buy to Strong Sell), calculated based on the actual recommendations (Buy, Hold, Sell, etc.) made by 17 brokerage firms. An ABR of 1.53 approximates between Strong Buy and Buy.Of the 17 recommendations that derive the current ABR, 12 are Strong Buy and one is Buy. Strong Buy and Buy respectively account for 70.6% and 5.9% of all recommendations.Check price target & stock forecast for Builders FirstSource here>>>The ABR suggests buying Builders FirstSource, but making an investment decision solely on the basis of this information might not be a good idea. According to several studies, brokerage recommendations have little to no success guiding investors to choose stocks with the most potential for price appreciation.Do you wonder why? As a result of the vested interest of brokerage firms in a stock they cover, their analysts tend to rate it with a strong positive bias. According to our research, brokerage firms assign five "Strong Buy" recommendations for every "Strong Sell" recommendation.In other words, their interests aren't always aligned with retail investors, rarely indicating where the price of a stock could actually be heading. Therefore, the best use of this information could be validating your own research or an indicator that has proven to be highly successful in predicting a stock's price movement.Story continuesWith an impressive externally audited track record, our proprietary stock rating tool, the Zacks Rank, which classifies stocks into five groups, ranging from Zacks Rank #1 (Strong Buy) to Zacks Rank #5 (Strong Sell), is a reliable indicator of a stock's near -term price performance. So, validating the Zacks Rank with ABR could go a long way in making a profitable investment decision.ABR Should Not Be Confused With Zacks RankAlthough both Zacks Rank and ABR are displayed in a range of 1-5, they are different measures altogether.Broker recommendations are the sole basis for calculating the ABR, which is typically displayed in decimals (such as 1.28). The Zacks Rank, on the other hand, is a quantitative model designed to harness the power of earnings estimate revisions. It is displayed in whole numbers -- 1 to 5.It has been and continues to be the case that analysts employed by brokerage firms are overly optimistic with their recommendations. Because of their employers' vested interests, these analysts issue more favorable ratings than their research would support, misguiding investors far more often than helping them.On the other hand, earnings estimate revisions are at the core of the Zacks Rank. And empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.Furthermore, the different grades of the Zacks Rank are applied proportionately across all stocks for which brokerage analysts provide earnings estimates for the current year. In other words, at all times, this tool maintains a balance among the five ranks it assigns.Another key difference between the ABR and Zacks Rank is freshness. The ABR is not necessarily up-to-date when you look at it. But, since brokerage analysts keep revising their earnings estimates to account for a company's changing business trends, and their actions get reflected in the Zacks Rank quickly enough, it is always timely in indicating future price movements.Is BLDR a Good Investment?Looking at the earnings estimate revisions for Builders FirstSource, the Zacks Consensus Estimate for the current year has increased 5.1% over the past month to $13.61.Analysts' growing optimism over the company's earnings prospects, as indicated by strong agreement among them in revising EPS estimates higher, could be a legitimate reason for the stock to soar in the near term.The size of the recent change in the consensus estimate, along with three other factors related to earnings estimates, has resulted in a Zacks Rank #2 (Buy) for Builders FirstSource. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>Therefore, the Buy-equivalent ABR for Builders FirstSource may serve as a useful guide for investors.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 reportBuilders FirstSource, Inc. (BLDR) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

Builders FirstSource (BLDR) Is Considered a Good Investment by Brokers: Is That True?

https://finance.yahoo.com/news/builders-firstsource-bldr-considered-good-143011082.html

9fb03edd-0437-32f9-be14-65ea88a488be

BLDR

Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.Of these, perhaps no stock market trend is more popular than value investing, which is a strategy that has proven to be successful in all sorts of market environments. Value investors rely on traditional forms of analysis on key valuation metrics to find stocks that they believe are undervalued, leaving room for profits.In addition to the Zacks Rank, investors looking for stocks with specific traits can utilize our Style Scores system. Of course, value investors will be most interested in the system's "Value" category. Stocks with "A" grades for Value and high Zacks Ranks are among the best value stocks available at any given moment.One stock to keep an eye on is Builders FirstSource (BLDR). BLDR is currently sporting a Zacks Rank of #2 (Buy), as well as an A grade for Value. The stock has a Forward P/E ratio of 14.67. This compares to its industry's average Forward P/E of 21.96. BLDR's Forward P/E has been as high as 14.88 and as low as 7.99, with a median of 12.47, all within the past year.We also note that BLDR holds a PEG ratio of 1.24. This popular figure is similar to the widely-used P/E ratio, but the PEG ratio also considers a company's expected EPS growth rate. BLDR's industry has an average PEG of 2.20 right now. Over the past 52 weeks, BLDR's PEG has been as high as 1.24 and as low as 1.23, with a median of 1.23.Finally, we should also recognize that BLDR has a P/CF ratio of 11.82. This metric focuses on a firm's operating cash flow and is often used to find stocks that are undervalued based on the strength of their cash outlook. BLDR's current P/CF looks attractive when compared to its industry's average P/CF of 16.73. Over the past 52 weeks, BLDR's P/CF has been as high as 11.82 and as low as 3.59, with a median of 7.20.Story continuesValue investors will likely look at more than just these metrics, but the above data helps show that Builders FirstSource is likely undervalued currently. And when considering the strength of its earnings outlook, BLDR sticks out at as one of the market's strongest value stocks.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 reportBuilders FirstSource, Inc. (BLDR) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

Is Builders FirstSource (BLDR) Stock Undervalued Right Now?

https://finance.yahoo.com/news/builders-firstsource-bldr-stock-undervalued-144015636.html

c968eb2a-2269-3d86-9f5b-703bb8359127

BLK

Companies are cutting staff and focusing on efficiency amid a commitment to do more with less following a year of widespread layoffs. The layoffs so far this year suggest that companies are cutting in more targeted areas. Here’s a look at some of the companies that have announced layoffs so far this year.Continue reading

The Wall Street Journal

Layoffs in 2024: A List of Companies Cutting Jobs This Year

https://finance.yahoo.com/m/604dffb9-56b6-3a7f-aa11-739677c15b28/layoffs-in-2024-a-list-of.html

604dffb9-56b6-3a7f-aa11-739677c15b28

BLK

(Bloomberg) -- Japan’s equity rally has room to run, with robust earnings and corporate reforms among catalysts that will spur further gains, according to strategists at BlackRock Investment Institute.Most Read from BloombergBYD’s New $233,450 EV Supercar to Rival Ferrari, LamborghiniStock Rally Stalls at Start of Data-Packed Week: Markets WrapFreddie Mercury’s London Residence Lists at £30 MillionJacob Rothschild, Financier and Philanthropist, Dies at 87Poland’s Famously Frank Top Diplomat Lands a Blow With Rebuff of Russia“We think both the macro outlook and company-level developments will drive the next leg,” the team led by Jean Boivin and Wei Li wrote Monday in weekly market commentary, reiterating an overweight recommendation on Japan’s equities. Shares can “best their all-time highs,” the report said.Japan’s Nikkei 225 Stock Average has extended gains since surpassing an all-time high last week. The broader Topix is near its own record, outperforming most major stock markets in US dollars this year.The blue-chip Nikkei 225 gained momentum this week after Warren Buffett wrote in a letter to investors that major Japanese trading houses follow shareholder-friendly policies that are “superior” to those practiced in the US.While the yen’s weakness has helped the value of corporate earnings made abroad, the market’s outlook also remains positive because higher inflation is letting firms raise prices and protect margins, as wage growth fuels consumer spending, according to BlackRock. Corporate governance reforms are also a “key driver” of the rally with Tokyo Stock Exchange pushing firms to improve their profitability and return money to shareholders.The Bank of Japan is expected to prudently wind down ultra-loose monetary policy to avoid disrupting the exit from decades of no inflation, the note said.Most Read from Bloomberg BusinessweekElon Musk’s Vegas Tunnel Project Has Been Racking Up Safety ViolationsThe High Cost of Eating Out in AmericaTranscript: Did Musk Buy Twitter to Keep His Movements Secret?Why Elon Musk Bought Twitter in the First PlaceCan the Masters of Hipster Cringe Conquer Hollywood With Wall Street Cash?©2024 Bloomberg L.P.

Bloomberg

BlackRock Says Japanese Stocks Can ‘Best Their All-Time Highs’

https://finance.yahoo.com/news/blackrock-says-japanese-stocks-best-023222158.html

5528c51c-04a0-3c36-a368-58848e8055e9

BLK

Cryptocurrency News: Bitcoin on Monday rose to yet another all-time high near $73,000, surpassing its previous record set Friday, after a U.K. financial regulator opened the door to allow crypto-linked products for professional investors. Cryptocurrency prices and related stocks continue climbing with bitcoin, prompting Goldman Sachs on Thursday to upgrade Coinbase. The crypto industry logged a historic day on Jan. 11, a day after the SEC approved 11 bitcoin ETF applications, which included issuers ARK Invest, BlackRock, Grayscale, VanEck and more.Continue reading

Investor's Business Daily

Cryptocurrency Prices And News: Bitcoin Hits New Record Near $73,000

https://finance.yahoo.com/m/e81bbe78-d2e5-3a11-af48-96917a2f638f/cryptocurrency-prices-and.html

e81bbe78-d2e5-3a11-af48-96917a2f638f

BLK

BlackRock (BLK) closed at $825.16 in the latest trading session, marking a -1.31% move from the prior day. The stock's change was less than the S&P 500's daily loss of 0.11%. Meanwhile, the Dow experienced a rise of 0.12%, and the technology-dominated Nasdaq saw a decrease of 0.41%.Shares of the investment firm have appreciated by 4.88% over the course of the past month, underperforming the Finance sector's gain of 4.89% and outperforming the S&P 500's gain of 2.7%.Analysts and investors alike will be keeping a close eye on the performance of BlackRock in its upcoming earnings disclosure. In that report, analysts expect BlackRock to post earnings of $9.23 per share. This would mark year-over-year growth of 16.39%. Alongside, our most recent consensus estimate is anticipating revenue of $4.65 billion, indicating a 9.71% upward movement from the same quarter last year.For the full year, the Zacks Consensus Estimates are projecting earnings of $39.73 per share and revenue of $20 billion, which would represent changes of +5.19% and +11.97%, respectively, from the prior year.It is also important to note the recent changes to analyst estimates for BlackRock. These revisions typically reflect the latest short-term business trends, which can change frequently. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Within the past 30 days, our consensus EPS projection has moved 0.23% higher. At present, BlackRock boasts a Zacks Rank of #3 (Hold).Story continuesFrom a valuation perspective, BlackRock is currently exchanging hands at a Forward P/E ratio of 21.05. This expresses a premium compared to the average Forward P/E of 11.19 of its industry.It's also important to note that BLK currently trades at a PEG ratio of 1.84. 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. BLK's industry had an average PEG ratio of 0.89 as of yesterday's close.The Financial - Investment Management industry is part of the Finance sector. Currently, this industry holds a Zacks Industry Rank of 28, positioning it in the top 12% 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.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 reportBlackRock, Inc. (BLK) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

BlackRock (BLK) Registers a Bigger Fall Than the Market: Important Facts to Note

https://finance.yahoo.com/news/blackrock-blk-registers-bigger-fall-221520585.html

91b26506-b968-3ba4-b5fb-70386de8479e

BMY

Adds RYZ101, an IND Engine and Manufacturing Capability, to BMSPRINCETON, N.J., February 26, 2024--(BUSINESS WIRE)--Bristol Myers Squibb (NYSE: BMY) announced today that it has successfully completed its acquisition of RayzeBio, Inc. (NASDAQ: RYZB). With the completion of the acquisition, RayzeBio shares have ceased trading on the NASDAQ Global Market and RayzeBio is now a wholly owned subsidiary of Bristol Myers Squibb."We are excited to complete this transaction, which adds radiopharmaceutical therapeutics (RPTs), one of the fastest-growing new modalities for treating patients with solid tumors," said Chris Boerner, Ph.D., Chief Executive Officer, Bristol Myers Squibb. "By strengthening and further diversifying our oncology pipeline beyond I-O, we will unlock exciting opportunities that support BMS’s growth in the back half of the decade and beyond. RayzeBio is a pioneer in the application of this novel modality, and we look forward to working with their talented team to accelerate their preclinical and clinical programs for the benefit of patients around the world."This transaction brings a promising pipeline of RPTs to Bristol Myers Squibb, including RayzeBio’s lead program RYZ101 (225Ac-DOTATATE), which targets somatostatin receptor 2 (SSTR2), over-expressed in GEP-NETs and extensive stage small cell lung cancer (ES-SCLC). A Phase 3 clinical trial is currently enrolling patients to evaluate RYZ101 in patients with SSTR-positive GEP-NETs who have previously been treated with lutetium-177 based somatostatin therapies. RayzeBio previously reported the interim results of the Phase 1b portion of the ACTION-1 clinical trial, suggesting encouraging efficacy and tolerability. A Phase 1b clinical trial is also currently enrolling patients to evaluate RYZ101 as a first-line treatment of ES-SCLC in combination with standard-of-care therapy. The platform has the potential to be a significant IND engine to generate a number of candidates and comes with a state-of-the-art RPT manufacturing facility, which is expected to begin operating in the first half of 2024.Story continuesBristol Myers Squibb’s previously announced tender offer to acquire all of the outstanding shares of RayzeBio common stock for a purchase price of $62.50 per share in cash, or approximately $4.1 billion, expired at one minute after 11:59 p.m., Eastern Time on February 22, 2024. Approximately 53,052,499 shares of RayzeBio common stock were validly tendered, and not validly withdrawn from the tender offer, representing approximately 86% of RayzeBio’s issued and outstanding shares of common stock. In accordance with the terms of the tender offer, all shares that were validly tendered and not validly withdrawn have been accepted for payment and Bristol Myers Squibb expects to promptly pay for all such shares.Following completion of the tender offer, Bristol Myers Squibb completed the acquisition of RayzeBio through the merger of its wholly owned subsidiary Rudolph Merger Sub Inc. with and into RayzeBio, without a vote of RayzeBio’s stockholders pursuant to Section 251(h) of the General Corporation Law of the State of Delaware. As a result of the merger, each share of common stock of RayzeBio issued and outstanding and not tendered in the tender offer was converted into the right to receive an amount in cash equal to $62.50, without interest and less any required withholding taxes, the same price offered in the tender offer.RayzeBio stockholders can direct questions regarding the tender offer to Georgeson LLC, the information agent for the tender offer, toll free at 1-888-815-8542 or by email at rayzebio@georgeson.com.AdvisorsBofA Securities, Inc., is serving as financial advisor to Bristol Myers Squibb, and Covington & Burling LLP is serving as legal counsel. Centerview Partners LLC is serving as financial advisor to RayzeBio, and Cooley LLP is serving as legal counsel.About Bristol Myers SquibbBristol Myers Squibb is a global biopharmaceutical company whose mission is to discover, develop and deliver innovative medicines that help patients prevail over serious diseases. For more information about Bristol Myers Squibb, visit us at BMS.com or follow us on LinkedIn, Twitter, YouTube, Facebook, and Instagram.Cautionary Statement Regarding Forward Looking-StatementsThis communication contains "forward-looking statements" regarding, among other things, the acquisition of RayzeBio by Bristol Myers Squibb. These statements may be identified by the fact they use words such as "should," "could," "expect," "anticipate," "estimate," "target," "may," "project," "guidance," "intend," "plan," "believe," "will" and other words and terms of similar meaning and expression in connection with any discussion of future operating or financial performance, although not all forward-looking statements contain such terms. All statements that are not statements of historical facts are, or may be deemed to be, forward-looking statements. These statements are only predictions, and such forward-looking statements are based on current expectations and involve inherent risks and uncertainties, including factors that could delay, divert or change any of them, and could cause actual outcomes and results to differ materially from current expectations. No forward-looking statement can be guaranteed. Actual results may differ materially from current expectations because of numerous risks and uncertainties including with respect to (i) the risk that the expected benefits or synergies of the acquisition will not be realized, including with respect to RayzeBio’s pipeline of RPTs, (ii) risks associated with legal proceedings instituted related to the merger agreement, and (iii) unanticipated difficulties or expenditures relating to the transaction, the response of business partners and competitors to the consummation of the transaction and/or potential difficulties in employee retention as a result of the consummation of the transaction. Forward-looking statements in this communication should be evaluated together with the many uncertainties that affect Bristol Myers Squibb’s business, particularly those identified in the cautionary factors discussion in Bristol Myers Squibb’s Annual Report on Form 10-K for the year ended December 31, 2023 and its subsequent Quarterly Reports on Form 10-Q and Current Reports on Form 8-K and other documents that may be filed by Bristol Myers Squibb from time to time with the U.S. Securities and Exchange Commission. Bristol Myers Squibb does not undertake any obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by law. The forward-looking statements made in this communication relate only to events as of the date on which the statements are made.corporatefinancial-newsView source version on businesswire.com: https://www.businesswire.com/news/home/20240224641228/en/ContactsMedia Inquiries: media@bms.comInvestors: investor.relations@bms.com

Business Wire

Bristol Myers Squibb Completes Acquisition of RayzeBio, Adding Differentiated Actinium-Based Radiopharmaceutical Platform

https://finance.yahoo.com/news/bristol-myers-squibb-completes-acquisition-133500439.html

ffc1d12b-6897-329a-a291-16db9eab73f0

BMY

PRINCETON, N.J., February 26, 2024--(BUSINESS WIRE)--Bristol Myers Squibb (NYSE: BMY) today announced that the company will participate in the TD Cowen 44th Annual Health Care Conference in Boston, Massachusetts, on Monday, March 4, 2024. Roland Chen, M.D., senior vice president, Immunology, Cardiovascular & Neuroscience development, will answer questions about the company during a fireside chat at 9:50 a.m. ET.Investors and the general public are invited to listen to a live webcast of the session here. An archived edition of the session will be available following its conclusion.About Bristol Myers Squibb CompanyBristol Myers Squibb is a global biopharmaceutical company whose mission is to discover, develop, and deliver innovative medicines that help patients prevail over serious diseases. For more information about Bristol Myers Squibb, visit us at BMS.com or follow us on LinkedIn, Twitter, YouTube, Facebook, and Instagram.corporatefinancial-newsView source version on businesswire.com: https://www.businesswire.com/news/home/20240226516046/en/ContactsMedia: media@bms.com Investors: investor.relations@bms.com

Business Wire

Bristol Myers Squibb to Participate in the TD Cowen 44th Annual Health Care Conference

https://finance.yahoo.com/news/bristol-myers-squibb-participate-td-211600841.html

2d98ca76-43e6-3779-8438-2781b41b8725

BMY

In this article, we discuss 15 best ETFs to buy now. If you want to skip our discussion on the stock market and ETF performance, head over to 5 Best ETFs To Buy Now. In 2023, US-listed ETF trading declined by 17% to $38 trillion due to record-high interest rates, with money market fund assets reaching an all-time high of $5.9 trillion. However, it was still the second-highest year for ETF volumes on record. iShares ETFs, led by iShares Russell 2000 ETF (NYSE Arca: IWM), iShares iBoxx $ High Yield Corporate Bond ETF (NYSE Arca: HYG), and iShares 20+ Year Treasury Bond ETF (NASDAQ GM: TLT), represented $9.4 trillion of this activity. US equity markets traded nearly $127 trillion, making the US ETFs account for 30% of the total American composite volume in the secondary market in 2023. Meanwhile, US-listed Fixed Income ETFs had their second-largest year on record at $5.8 trillion, slightly behind the 2022 figures. Also, options trading in the US-listed ETFs reached record levels in 2023, with the industry totaling $130 trillion, up 24% year-over-year. The ETF industry set a new record with 543 new ETFs launched in 2023, surpassing the previous record of just under 480 in 2021 by more than 60 funds. Approximately 75% of the newly launched funds in 2023 were actively managed. According to VettaFi’s Dave Nadig:“It was only a few years ago when we crossed 2,000 ETFs listed that the first ‘there are too many ETFs!’ complaints started up, and yet here we are. But the reality is there’s no cap on innovation. The products we’ve seen gain traction this year — the rise of active products, the narrow slices of the  market, options overlays, buffers, conversions — they weren’t really even a pipe dream five years ago, and they’re the stories of the year. ETFs have gained so much ground because they solve real problems for real investors.”Lately, retail traders are increasingly utilizing exchange traded funds as a new tool during the recent Bitcoin rally. Newly launched funds, such as the iShares Bitcoin Trust (NASDAQ GM: IBIT), Fidelity Wise Origin Bitcoin Fund (CBOE US: FBTC), and ARK 21Shares Bitcoin ETF (CBOE US: ARKB) have experienced a surge in trading volume. For instance, IBIT traded about 96 million shares on February 28, more than double its previous record, indicating significant retail interest. The Fidelity and ARK funds also saw substantial increases in shares traded, surpassing earlier records. The active market suggests that retail traders are leveraging these ETFs to participate in the Bitcoin rally, with the cryptocurrency crossing $60,000 for the first time since November 2021. Despite Bitcoin's 30% rise since the ETFs were approved, their prices have consistently increased over the past six weeks, contributing to the notable trading volumes.Story continuesSome of the best ETFs expose investors to stocks like Costco Wholesale Corporation (NASDAQ:COST), Eli Lilly and Company (NYSE:LLY), and NVIDIA Corporation (NASDAQ:NVDA). Our Methodology We curated our list of the best ETFs by choosing consensus picks from multiple credible websites. We have mentioned the 5-year share price performance of each ETF as of March 9, 2024, ranking the list in ascending order of the share price. We have also discussed the top holdings of the ETFs to offer better insight to potential investors. 15 Best ETFs To Buy NowAn experienced investor staring at a wall of monitors displaying stocks and mortgaged securities.Best ETFs To Buy Now15. Energy Select Sector SPDR Fund (NYSE Arca: XLE)5-year Share Price Performance as of March 9, 2024: 34.59%Energy Select Sector SPDR Fund (NYSE Arca: XLE) aims to replicate the performance of the Energy Select Sector Index. This index is designed to accurately represent the energy sector within the S&P 500 Index, focusing on companies in the oil, gas, consumable fuel, and energy equipment and services industries. Established in December 1998, Energy Select Sector SPDR Fund (NYSE Arca: XLE) has an expense ratio of 0.09% as of March 7, 2024, and its portfolio consists of 23 stocks. It is one of the best ETFs to buy. Exxon Mobil Corporation (NYSE:XOM) is the largest holding of the Energy Select Sector SPDR Fund (NYSE Arca: XLE). On February 2, Exxon Mobil Corporation (NYSE:XOM) declared a quarterly dividend of $0.95 per share, in line with previous. The dividend is payable on March 11, to shareholders on record as of February 14. According to Insider Monkey’s fourth quarter database, 85 hedge funds were bullish on Exxon Mobil Corporation (NYSE:XOM), compared to 79 funds in the prior quarter. Jean-Marie Eveillard’s First Eagle Investment Management is the largest stakeholder of the company, with 13.2 million shares worth $1.3 billion.In addition to Costco Wholesale Corporation (NASDAQ:COST), Eli Lilly and Company (NYSE:LLY), and NVIDIA Corporation (NASDAQ:NVDA), Exxon Mobil Corporation (NYSE:XOM) is one of the stocks favored by elite hedge funds.Here is what First Eagle Investments had to say about Exxon Mobil Corporation (NYSE:XOM) in its second-quarter 2022 investor letter:“Integrated oil and gas giant Exxon Mobil performed well in the second quarter as continued high prices for energy products supported the stock. As the largest refiner in the US, the company has benefitted from wide “crack spreads,” or the margin between the cost of crude oil and the petroleum products extracted from it. Exxon continues to invest in refining capacity in the US, which industry wide has been in steady decline since 2019. We are pleased that Exxon has been using its strong cash flows to reduce debt and to return cash to shareholders through dividends and stock repurchases.”14. iShares Core S&P Small-Cap ETF (NYSE Arca: IJR)5-year Share Price Performance as of March 9, 2024: 38.53%iShares Core S&P Small-Cap ETF (NYSE Arca: IJR) aims to replicate the performance of the S&P SmallCap 600 Index, which represents small-cap U.S. equities. As of March 8, 2024, the ETF holds net assets totaling $88 billion and holds a portfolio consisting of 689 stocks, with an expense ratio of 0.06%. iShares Core S&P Small-Cap ETF (NYSE Arca: IJR) is one of the best ETFs to invest in. Fabrinet (NYSE:FN) is one of the largest holdings of the iShares Core S&P Small-Cap ETF (NYSE Arca: IJR). Fabrinet (NYSE:FN) is a global company providing optical packaging, precision optical, electro-mechanical, and electronic manufacturing services across North America, the Asia Pacific, and Europe. On February 5, Fabrinet (NYSE:FN) reported its financial results for the December quarter. The company posted a non-GAAP EPS of $2.08 and a revenue of $712.7 million, outperforming Wall Street estimates by $0.05 and $17.31 million, respectively. According to Insider Monkey’s fourth quarter database, Fabrinet (NYSE:FN) was part of 24 hedge fund portfolios, compared to 30 in the prior quarter. FPA Queens Road Small Cap Value Fund stated the following regarding Fabrinet (NYSE:FN) in its fourth quarter 2023 investor letter:“Fabrinet (NYSE:FN) is a contract manufacturer of optical communications modules and components. The company has a dominant position in hard-to-replicate precision-manufacturing technologies and an enviable track record of execution. The majority of Fabrinet’s sales are to optical communications equipment manufacturers, but it has been successfully diversifying into the data center, industrial, auto, and medical end-markets. FN’s stock jumped after reporting June 2023 earnings – data center sales increased 50% sequentially and more than 100% over the previous year, driven by their 800-gigabyte transceivers for Artificial Intelligence applications. The company also announced that Nvidia is a 10%+ customer.Fabrinet was, notably, a top-five holding in the Fund before its June earnings announcement and, although we have trimmed our position, was our largest holding at the end of 2023. While we continue to evaluate what we believe is a positive incremental change in the company’s earnings power, we are seeking to take some profits in keeping with our risk management policies.”13. Schwab U.S. Dividend Equity ETF (NYSE Arca: SCHD)5-year Share Price Performance as of March 9, 2024: 50.05%Schwab U.S. Dividend Equity ETF (NYSE Arca: SCHD) aims to closely replicate the total return of the Dow Jones U.S. Dividend 100 Index before fees and expenses. Schwab U.S. Dividend Equity ETF (NYSE Arca: SCHD) invests in stocks chosen for their fundamental strength compared to peers, assessed through financial ratios. Established on October 20, 2010, the ETF has net assets totaling $54.2 billion as of March 8, 2024, with an expense ratio of 0.060%. Broadcom Inc. (NASDAQ:AVGO) is the largest holding of Schwab U.S. Dividend Equity ETF (NYSE Arca: SCHD). On March 7, Broadcom Inc. (NASDAQ:AVGO) reported a Q1 non-GAAP EPS of $10.99 and a revenue of $11.96 billion, outperforming Wall Street estimates by $0.57 and $240 million, respectively. According to Insider Monkey’s fourth quarter database, 91 hedge funds were bullish on Broadcom Inc. (NASDAQ:AVGO), compared to 87 funds in the prior quarter. Aristotle Atlantic Core Equity Strategy stated the following regarding Broadcom Inc. (NASDAQ:AVGO) in its fourth quarter 2023 investor letter:“Broadcom Inc. (NASDAQ:AVGO) contributed to portfolio outperformance during the quarter, as the company reported fourth quarter results which continued to show strength in its AI business segments. With the VMware acquisition having closed at the end of November, the company also provided positive fiscal year 2024 guidance on its earnings call that included synergy target goals ahead of schedule and a more positive revenue ramp for the combined businesses.”12. Financial Select Sector SPDR Fund (NYSE Arca: XLF)5-year Share Price Performance as of March 9, 2024: 52.53%Financial Select Sector SPDR Fund (NYSE Arca: XLF) aims to replicate the price and yield performance of the Financial Select Sector Index. This index effectively represents the financial sector of the S&P 500 Index and provides exposure to companies in financial services, insurance, banks, capital markets, mortgage REITs, and consumer finance. Established in December 1998, the ETF has an expense ratio of 0.09% as of March 9, 2024, and offers a portfolio of 72 stocks. Financial Select Sector SPDR Fund (NYSE Arca: XLF) is one of the best ETFs to buy. Berkshire Hathaway Inc. (NYSE:BRK-B) is the largest holding of the Financial Select Sector SPDR Fund (NYSE Arca: XLF). Berkshire is a global conglomerate involved in insurance, freight rail transportation, and utilities. On February 24, Berkshire Hathaway Inc. (NYSE:BRK-B) reported a Q4 EPS of $3.92 and a revenue of $93.38 billion, exceeding Wall Street estimates by $0.12 and $12.69 billion, respectively. According to Insider Monkey’s fourth quarter database, 117 hedge funds were long Berkshire Hathaway Inc. (NYSE:BRK-B), compared to 116 funds in the last quarter. Bill & Melinda Gates Foundation Trust is the largest stakeholder of the company, with nearly 20 million shares worth $7.10 billion. Here is what Black Bear Value Fund has to say about Berkshire Hathaway Inc. (NYSE:BRK-B) in its Q3 2022 investor letter:“Going forward I expect Berkshire to compound at above average returns from this price. BRK is a collection of high-quality businesses, excellent management, and a good amount of optionality in their cash position. If the cash were to be deployed accretively, the true value would be greater than an 8% premium (as mentioned above). The combination of a pie that is growing, an increasing share of said pie due to stock buybacks, upside optionality from cash and a tight range of likely business outcomes that span a variety of economic futures gives me comfort in continuing to own Berkshire.”11. iShares Core Dividend Growth ETF (NYSE Arca: DGRO)5-year Share Price Performance as of March 9, 2024: 53.66%iShares Core Dividend Growth ETF (NYSE Arca: DGRO) aims to replicate the performance of the Morningstar US Dividend Growth Index, which is composed of US equities with a track record of consistent dividend growth. Launched on June 10, 2014, the ETF has accumulated net assets of $26.5 billion as of March 8, 2024. iShares Core Dividend Growth ETF (NYSE Arca: DGRO)’s portfolio comprises 420 stocks and the fund offers an expense ratio of 0.08%. iShares Core Dividend Growth ETF (NYSE Arca: DGRO) is one of the best ETFs to invest in. JPMorgan Chase & Co. (NYSE:JPM) is a prominent holding of the iShares Core Dividend Growth ETF (NYSE Arca: DGRO). On January 12, JPMorgan Chase & Co. (NYSE:JPM) reported a Q4 non-GAAP EPS of $3.97, outperforming Street estimates by $0.37. However, the revenue of $38.57 billion fell short of market consensus by $1.21 billion. According to Insider Monkey’s fourth quarter database, 103 hedge funds were bullish on JPMorgan Chase & Co. (NYSE:JPM), compared to 109 funds in the prior quarter. Madison Sustainable Equity Fund stated the following regarding JPMorgan Chase & Co. (NYSE:JPM) in its fourth quarter 2023 investor letter:“We updated the sustainable scorecard for JPMorgan Chase & Co. (NYSE:JPM). JP Morgan continues to have an Average rating across Governance, Social and Environmental factors. JP Morgan is using its business to improve climate change. JP Morgan has targeted $2.5 trillion in financing between 2021 and 2030 to advance long-term solutions to address climate change and sustainable development. The Board has oversight of corporate responsibility and ESG matters, but ESG and Sustainability are addressed across the firm. JPM does listen to shareholders. After a 31% For Vote on executive compensation in 2022, the Board will not be granting any special awards to Jamie Dimon or Daniel Pinto and if awarded to other Named Executive Officers, there will be a direct performance condition associated with the award. The Compensation Committee limited the cash percentage of Dimon and Pinto’s compensation.”10. Industrial Select Sector SPDR Fund (NYSE Arca: XLI)5-year Share Price Performance as of March 9, 2024: 65.29% Industrial Select Sector SPDR Fund (NYSE Arca: XLI) aims to replicate the price and yield performance of the Industrial Select Sector Index. This index effectively represents the industrial sector of the S&P 500 Index, offering exposure to different industries including aerospace and defense, industrial conglomerates, transportation, machinery, logistics, and more. Industrial Select Sector SPDR Fund (NYSE Arca: XLI) has an expense ratio of 0.09% as of March 9, 2024, and holds a portfolio of 78 stocks. Industrial Select Sector SPDR Fund (NYSE Arca: XLI) is one of the best ETFs to buy. General Electric Company (NYSE:GE) is the largest holding of the Industrial Select Sector SPDR Fund (NYSE Arca: XLI). On January 23, General Electric Company (NYSE:GE) reported a Q4 non-GAAP EPS of $1.03 and a revenue of $19.4 billion, topping Wall Street estimates by $0.13 and $1.85 billion, respectively. According to Insider Monkey’s fourth quarter database, 92 hedge funds held stakes in General Electric Company (NYSE:GE), up from 76 funds in the prior quarter. Chris Hohn’s TCI Fund Management is the largest stakeholder of the company, with 41.65 million shares worth $5.3 billion. Longleaf Partners Fund stated the following regarding General Electric Company (NYSE:GE) in its fourth quarter 2023 investor letter:“General Electric Company (NYSE:GE) – Industrial conglomerate General Electric (GE) was the top performer for the year. We exited this multi-year investment as its price went above our appraisal. In 1Q23, GE spun out GE Healthcare, which we sold as it traded at our value. The share price continued its strong performance throughout the spring and summer, and we ultimately sold the position in the third quarter when we no longer saw a margin of safety for the business. CEO Larry Culp was a great partner who created significant value for shareholders by reducing leverage, cutting costs, streamlining operations, improving company culture and simplifying the structure with plans to split the company into three businesses. We hope to have the opportunity to partner with him again in the future.”9. Vanguard U.S. Quality Factor ETF ETF Shares (CBOE US: VFQY)5-year Share Price Performance as of March 9, 2024: 68.46%Vanguard U.S. Quality Factor ETF ETF Shares (CBOE US: VFQY) ranks 9th on our list of the best ETFs to buy. Vanguard U.S. Quality Factor ETF ETF Shares (CBOE US: VFQY) employs a rules-based quantitative model to assess US common stocks, investing in those with robust fundamentals through an actively managed portfolio. The fund's holdings include a diverse mix of stocks across different market capitalizations, sectors, and industries. Emphasizing strong profitability and healthy balance sheets, the ETF aims for long-term capital appreciation. Vanguard U.S. Quality Factor ETF ETF Shares (CBOE US: VFQY) features an expense ratio of 0.13% and a portfolio comprising 396 stocks. It is one of the best ETFs to buy. Vanguard U.S. Quality Factor ETF ETF Shares (CBOE US: VFQY)’s top holding is Bristol-Myers Squibb Company (NYSE:BMY), an American manufacturer and distributor of biopharmaceutical products worldwide. On March 1, Bristol-Myers Squibb Company (NYSE:BMY) declared a quarterly dividend of $0.60 per share, in line with previous. The dividend is payable on May 1, to shareholders on record as of April 5. According to Insider Monkey’s fourth quarter database, 60 hedge funds were bullish on Bristol-Myers Squibb Company (NYSE:BMY), compared to 65 funds in the last quarter. John Overdeck and David Siegel’s Two Sigma Advisors is the largest stakeholder of the company, with 8.90 million shares worth $456.85 million. Aristotle Atlantic Core Equity Strategy stated the following regarding Bristol-Myers Squibb Company (NYSE:BMY) in its fourth quarter 2023 investor letter:“We sold our position in Bristol-Myers Squibb Company (NYSE:BMY), following the third quarter earnings report where the company reduced the medium-term guidance on the new product portfolio and lowered its 2025 target. Given the large amount of revenue associated with drugs going off-patent, the new product portfolio was key to the company’s ability to change investor perception. Certain launches are not performing as expected, and others are taking longer to scale. Additionally, Bristol-Myers reduced medium-term operating margin guidance to invest in its commercial drugs and the research and development (R&D) pipeline. We do not believe that the company exhibited the level of defensiveness in the strategy we expected given the low valuation.”8. Vanguard S&P 500 ETF (NYSE Arca: VOO)5-year Share Price Performance as of March 9, 2024: 81.02%Vanguard S&P 500 ETF (NYSE Arca: VOO) invests in stocks from the S&P 500 Index. Its primary objective is to closely mirror the index's return, serving as an indicator for overall US stock performance. Vanguard S&P 500 ETF (NYSE Arca: VOO) is designed for long-term goals where capital appreciation is needed. As of March 9, 2024, the ETF offers an expense ratio of 0.03% and holds net assets of $1 trillion. Vanguard S&P 500 ETF (NYSE Arca: VOO) is one of the best ETFs to invest in. Microsoft Corporation (NASDAQ:MSFT) is the largest holding of Vanguard S&P 500 ETF (NYSE Arca: VOO). On January 30, the company reported its financial results for the December quarter. The GAAP EPS of $2.93 and revenue of $62.02 billion outperformed Wall Street estimates by $0.16 and $890 million, respectively. According to Insider Monkey’s fourth quarter database, 302 hedge funds were long Microsoft Corporation (NASDAQ:MSFT), compared to 306 funds in the last quarter. Bill & Melinda Gates Foundation Trust is the biggest stakeholder of the company. Alger Spectra Fund stated the following regarding Microsoft Corporation (NASDAQ:MSFT) in its fourth quarter 2023 investor letter:“Microsoft Corporation (NASDAQ:MSFT) is a beneficiary of corporate America’s transformative digitization. Microsoft’s CEO expects technology spending as a percent of Gross Domestic Product (GDP) to jump from about 5% now to 10% in 10 years and that Microsoft will continue to capture market share within the technology sector. The company operates through three segments: Productivity and Business Processes (Office. LinkedIn, and Dynamics), Intelligent Cloud (Server Products and Cloud Services, Azure, and Enterprise Services), and More Personal Computing (Windows, Devices. Gaming, and Search). During the quarter, the company reported strong fiscal first quarter results, where revenues and earnings beat analyst estimates, driven in large part to growing Al demand. Regarding Intelligent Cloud segment, management noted Azure optimizations were similar to the previous quarter, but new Al and traditional workloads are helping drive greater consumption growth, which resulted in their first reacceleration since March 2022. We believe the strong Azure performance suggests diminishing cost optimization headwinds and growing strength in Al service consumption.”7. SPDR S&P 500 ETF Trust (NYSE Arca: SPY)5-year Share Price Performance as of March 9, 2024: 81.91%SPDR S&P 500 ETF Trust (NYSE Arca: SPY) aims to mirror the performance of the S&P 500 Index. Launched in 1993, SPDR S&P 500 ETF Trust (NYSE Arca: SPY) was the first US-listed exchange traded fund. The S&P 500 Index assesses the large-cap segment of the US equity market, utilizing a float-adjusted market capitalization weighting. As of March 7, 2024, SPDR S&P 500 ETF Trust (NYSE Arca: SPY) provides an expense ratio of 0.0945% and manages nearly $507 billion in assets. It is one of the best ETFs to invest in. Amazon.com, Inc. (NASDAQ:AMZN) is one of the largest holdings of SPDR S&P 500 ETF Trust (NYSE Arca: SPY). Amazon.com, Inc. (NASDAQ:AMZN) reported Q4 operating income above forecasts and provided robust guidance for the first quarter of 2024. In the fourth quarter, North American total revenue rose by 13% to $105.5 billion, compared to a consensus of $102.9 billion, while international revenue increased by 17% to $40.2 billion, compared to a consensus of $39.0 billion. The overall total revenue for the quarter reached $170.0 billion, surpassing the consensus estimate of $166.3 billion.According to Insider Monkey’s fourth quarter database, 293 hedge funds were bullish on Amazon.com, Inc. (NASDAQ:AMZN), compared to 286 funds in the prior quarter. Boykin Curry’s Eagle Capital Management is a prominent stakeholder of the company, with 13.6 million shares worth $2 billion. Polen Global Growth Strategy stated the following regarding Amazon.com, Inc. (NASDAQ:AMZN) in its fourth quarter 2023 investor letter:“Amazon.com, Inc. (NASDAQ:AMZN), which saw significant price appreciation throughout much of 2023, saw its share price increase materially in Q4 following the company’s Q3 2023 earnings report. We have yet to see the long-awaited re-acceleration in AWS (Amazon Web Services) revenue growth. However, in our estimation, the segment’s growth has likely bottomed, and we could see accelerating growth in 2024. Further, Amazon’s e-commerce business has gradually re-accelerated from 2022’s levels and, perhaps most importantly, the company’s margins and free cash flow have rebounded materially from last year. This rebound in margins and free cash flow at Amazon has been a key component of our long-term thesis for the business, and we expect the improvement in these metrics to continue into 2024 and beyond (though perhaps not linearly) as the company continues to optimize costs and capital expenditures. Our position in Amazon reflects our positive long-term expectations of the business, and it is currently our largest absolute weight in the Portfolio.” 6. iShares S&P 100 ETF (NYSE Arca: OEF)5-year Share Price Performance as of March 9, 2024: 92.94%iShares S&P 100 ETF (NYSE Arca: OEF) aims to replicate the performance of the S&P 100 Index, which consists of 100 large-cap US equities. Established on October 23, 2000, the ETF had net assets of $11.5 billion and an expense ratio of 0.20% as of March 8, 2024. iShares S&P 100 ETF (NYSE Arca: OEF) is one of the best ETFs to buy. Meta Platforms, Inc. (NASDAQ:META) is one of the largest holdings of the iShares S&P 100 ETF (NYSE Arca: OEF). On February 1, Meta Platforms, Inc. (NASDAQ:META) declared its first quarterly dividend of $0.50 per share dividend. The dividend is payable on March 26, to shareholders on record as of February 22. The company also announced a $50 billion increase in share repurchase authorization.According to Insider Monkey’s fourth quarter database, 242 hedge funds were long Meta Platforms, Inc. (NASDAQ:META), compared to 234 funds in the prior quarter. Rajiv Jain’s GQG Partners is the largest stakeholder of the company, with 11.15 million shares worth approximately $4 billion. Like Costco Wholesale Corporation (NASDAQ:COST), Eli Lilly and Company (NYSE:LLY), and NVIDIA Corporation (NASDAQ:NVDA), Meta Platforms, Inc. (NASDAQ:META) is one of the best stocks to buy according to hedge funds. SaltLight Capital stated the following regarding Meta Platforms, Inc. (NASDAQ:META) in its fourth quarter 2023 investor letter:“Meta Platforms, Inc.’s (NASDAQ:META) primary mission is all about capitalising on user engagement and maintaining its network effects. AI is augmenting their objectives in two ways: 1) Improving engagement time per daily active user (AI Job One) 2) Matching ad buyers (advertisers) with ad consumers (AI Job Two)Improving Engagement Time per Daily Active User Meta is in the business of making sure that when you’re scrolling through your feed or watching videos, you’re glued to the screen as long as possible. Why? Because the longer you watch, the more ads they can slip into your viewing experience (think of digital billboards). But these ‘digital billboards’ are a finite resource – only more engagement time creates them.And here’s where the magic of ‘AI job one’ comes in – finding that perfect video that keeps you hooked – thereby increasing the time you spend on the platform. It’s a cycle that feeds itself: more engagement means more opportunities to serve ads, which in turn means more revenue…” (Click here to read the full text)Click to continue reading and see 5 Best ETFs To Buy Now.  Suggested articles:10 Biggest Smartwatch Companies in the WorldTop 12 Companies for Architects in United StatesWall Street Picked These 13 AI Stocks for 2024 Disclosure: None. 15 Best ETFs To Buy Now is originally published on Insider Monkey.

Insider Monkey

15 Best ETFs To Buy Now

https://finance.yahoo.com/news/15-best-etfs-buy-now-115638916.html

a5fc18be-3d9e-3349-aad5-511240a726f3

BMY

PRINCETON, N.J., March 11, 2024--(BUSINESS WIRE)--Bristol Myers Squibb (NYSE: BMY) will announce results for the first quarter of 2024 on Thursday, April 25, 2024. Company executives will review financial results and address inquiries from investors and analysts during a conference call beginning at 8:00 a.m. ET on the same date.Investors and the general public are invited to listen to a live webcast of the call at http://investor.bms.com. Investors and the public can register for the live conference call here. Those unable to register can access the live conference call by dialing in the U.S. toll free 1-833-816-1116 or international +1 412-317-0705. Materials related to the call will be available at http://investor.bms.com prior to the start of the conference call.A replay of the webcast will be available at http://investor.bms.com approximately three hours after the conference call concludes. A replay of the conference call will be available beginning at 11:30 a.m. ET on April 25, 2024, through 11:30 a.m. ET on May 9, 2024, by dialing in the U.S. toll free 1-877-344-7529 or international +1 412-317-0088, conference code: 5034750.About Bristol Myers SquibbBristol Myers Squibb is a global biopharmaceutical company whose mission is to discover, develop and deliver innovative medicines that help patients prevail over serious diseases. For more information about Bristol Myers Squibb, visit us at BMS.com or follow us on LinkedIn, Twitter, YouTube, Facebook, and Instagram.corporatefinancial-newsView source version on businesswire.com: https://www.businesswire.com/news/home/20240311116567/en/ContactsMedia: media@bms.com Investors: investor.relations@bms.com

Business Wire

Bristol Myers Squibb to Report Results for First Quarter 2024 on April 25, 2024

https://finance.yahoo.com/news/bristol-myers-squibb-report-results-201600791.html

24aea5e1-3236-37b0-933c-2a35af489024

BR

Almost half of consumers are willing to spend more for an improved customer experience, according to Broadridge's 6th Annual CX and Communications Survey NEW YORK, Feb. 20, 2024 /PRNewswire/ -- Amid today's uncertain economic environment and companies' increasing dependence on technology to provide customer service, consumer patience has dwindled with the rate of consumers who feel that companies need to improve their customer experience doubling (70%) since 2019, according to the latest CX & Communications Consumer Insights survey from global Fintech leader, Broadridge Financial Solutions, Inc. (NYSE:BR). The research underscores the pressing need for companies to further enhance the customer experience and emphasizes the crucial role of personalization and empathy in addressing customer concerns, particularly in the age of AI."The survey's message is clear: companies need to ensure their technology and communications strategies go hand in hand," stated Dave Zamorski, general manager of digital solutions for Broadridge Customer Communications. "It is mission critical for companies to transform their digital communications with best-in-class security and omni-channel platform modernization to meet market demands."There is still time for businesses to turn things around. Despite economic challenges, 47% of consumers are willing to spend more for an improved customer experience. Notably, Gen Z (53%) and Millennials (57%) are more inclined to invest in superior CX compared to Baby Boomers (34%).AI's CX Promise Is Still Premature"While we've seen significant excitement around the potential for generative AI to enhance business processes, the research underscores the importance of trust, personalization, and human interaction in shaping consumer perception when it comes to this technology," said Matt Swain, head of communications insights and experience at Broadridge. "While there's no doubt that AI can improve customer experience, it's critical to identify the right use cases and regularly gather voice of customer feedback to ensure it is working for and not against you."Story continuesWhile emerging technologies, like generative AI (GenAI), hold promise for enhancing CX, the data highlights the importance of thoughtful implementation of these technologies. As the experimentation phase continues, more than three quarters (76%) of Gen Z have used GenAI in the last year and almost half (46%) say that it has improved their overall experience.However, when support is needed, sentiment shifts. Sixty-five percent of consumers feel that AI lacks a sense of empathy and 82% prefer to communicate with a human if an issue arises, emphasizing the need for a balanced approach that is coupled with human interaction and works across different preferences. Data Security & Privacy are Top of MindPrivacy and security are especially critical in the age of AI. The survey indicates a growing awareness and concern among consumers around the importance of data privacy, with two thirds of respondents reporting being concerned about their data being compromised due to AI. This is especially true for Baby Boomers (74%) compared to Gen Z (58%).While more than half (54%) of consumers are open to sharing their personal information for a more customized experience, they also want to make sure that information is secure and advocate for businesses to adopt advanced technologies to enhance the overall security of their digital interactions. A majority of consumers (77%) believe there should be more legislation in place to protect personal data.For Gen Z and Millennials, Proper Personalization is Key  The impact of poor personalization continues to be a looming threat for companies that don't invest in their CX and communications experience. The data shows the need for firms to better understand the potential revenue lost from poor experiences, as nearly half (45%) of consumers have stopped doing business with a company because it did a poor job of customizing their experience. This is especially true for both Gen Z and millennials (55%).Communicating with customers through the proper channels is just as critical, with 90% of respondents stressing the importance of honoring preferred communication channels and only 31% of respondents believing companies overall are doing it right.The Future of Next Generation ExperiencesFor companies to remain competitive, they must learn to strike a balance between technology and personal, human-led communication. The future of successful communication and elevated customer experience depends on companies achieving the right balance of both to meet the needs of tomorrow's consumer.For more information, view Broadridge's full report here.MethodologyBroadridge commissioned Big Village to conduct this CARAVAN survey. This survey, as part of Broadridge's annual series, was conducted in a fashion consistent with previous years. The survey was taken by 4,010 U.S. and Canadian residents aged 18 and older. The U.S. data was weighted by age, sex, geographic region, race, and education. The Canadian data was weighted by age, sex, and geographic region to ensure accurate representation of each population.About BroadridgeBroadridge Financial Solutions (NYSE: BR), a global Fintech leader with over $6 billion in revenues, provides the critical infrastructure that powers investing, corporate governance, and communications to enable better financial lives. We deliver technology-driven solutions that drive business transformation for banks, broker-dealers, asset and wealth managers and public companies. Broadridge's infrastructure serves as a global communications hub enabling corporate governance by linking thousands of public companies and mutual funds to tens of millions of individual and institutional investors around the world. Our technology and operations platforms underpin the daily trading of more than $10 trillion of equities, fixed income and other securities globally. A certified Great Place to Work®, Broadridge is part of the S&P 500® Index, employing over 14,000 associates in 21 countries.For more information about us, please visit www.broadridge.comMedia Contact:Marie MattaProsek Partners+1 646-818-9106mmatta@prosek.comBroadridge Logo. (PRNewsFoto/Broadridge Financial Solutions)  CisionView original content to download multimedia:https://www.prnewswire.com/news-releases/navigating-the-cx-challenge-despite-companies-increased-tech-investments-consumer-impatience-grows-302066142.htmlSOURCE Broadridge Financial Solutions, Inc.

PR Newswire

Navigating the CX Challenge: Despite Companies' Increased Tech Investments, Consumer Impatience Grows

https://finance.yahoo.com/news/navigating-cx-challenge-despite-companies-141800054.html

6a525c78-6472-3444-821b-f234278a668a

BR

NEW YORK, Feb. 22, 2024 /PRNewswire/ -- Broadridge Financial Solutions, Inc. (NYSE:BR) announced that it will be participating at four upcoming investor events. Three of these events will include fireside chats with management, which will be available on Broadridge's Investor Relations page at www.broadridge-ir.com.Evercore ISI Payments & Fintech Innovators Forum – New York City Time and Date: February 29, 2024, at 8:50 AM ETCompany Speaker: Edmund Reese, Chief Financial OfficerRaymond James Institutional Investors Conference – Orlando, FloridaTime and Date: March 4, 2024, at 1:40 PM ETCompany Speaker: Tim Gokey, Chief Executive OfficerMorgan Stanley Technology, Media & Telecom Conference – San Francisco, CaliforniaTime and Date: March 5, 2024, at 8:45 AM PT / 11:45 AM ETCompany Speaker: Edmund Reese, Chief Financial OfficerWolfe Research FinTech Forum – New York CityDate: March 14, 2024Company Host: Tim Gokey, Chief Executive Officer, will host individual investor meetingsAbout BroadridgeBroadridge Financial Solutions (NYSE: BR), a global Fintech leader with over $6 billion in revenues, provides the critical infrastructure that powers investing, corporate governance, and communications to enable better financial lives. We deliver technology-driven solutions that drive business transformation for banks, broker-dealers, asset and wealth managers and public companies. Broadridge's infrastructure serves as a global communications hub enabling corporate governance by linking thousands of public companies and mutual funds to tens of millions of individual and institutional investors around the world. Our technology and operations platforms underpin the daily trading of more than $10 trillion of equities, fixed income and other securities globally. A certified Great Place to Work®, Broadridge is part of the S&P 500® Index, employing over 14,000 associates in 21 countries.For more information about us and what we can do for you, please visit www.broadridge.com.Story continuesInvestors                                                                    broadridgeir@broadridge.comMediamediarelations@broadridge.comCisionView original content:https://www.prnewswire.com/news-releases/broadridge-to-participate-in-upcoming-investor-events-302069344.htmlSOURCE Broadridge Financial Solutions, Inc.

PR Newswire

Broadridge to Participate in Upcoming Investor Events

https://finance.yahoo.com/news/broadridge-participate-upcoming-investor-events-220000204.html

69814103-bb38-36a6-917a-ba2e542a1c6c

BR

The modular cloud-based solution will open new markets and reduce maintenance burden and complexityNEW YORK and TOKYO, March 10, 2024 /PRNewswire/ -- Matsui Securities Co., Ltd., one of Japan's top online securities brokers, has selected global Fintech leader Broadridge Financial Solutions, Inc.'s (NYSE: BR) cloud based SaaS post-trade processing solution to drive operational efficiency in its stock lending business. System integrator Intelligent Wave will develop the front office component and system integration as well as provide project management and overall consultation to Matsui Securities."Hitherto, we have operated an internally developed system for stock lending transactions, but as our business has grown it has become bloated, making system maintenance a significant burden," said Shinichi Uzawa, Managing Director, Corporate Division at Matsui Securities. "By adopting Broadridge's post-trade processing solution with its proven global track record, we expect to reduce our maintenance burden and facilitate a far more stable management with much greater operational efficiency.""We are delighted to work with Matsui Securities and Intelligent Wave to meet their clients' current and future stock lending needs in Japan," said Ian Strudwick, Managing Director, Head of Asia Pacific at Broadridge. "In today's competitive online securities brokerage market, margin compression means that our clients are looking at new revenue growth opportunities and operating efficiencies. Our modular platform allows them to achieve these goals, quickly and with ease, and provides the flexibility for future expansion of their services locally and globally at scale."Broadridge delivers global simplification, transformation and innovation across the trade lifecycle through scalable solutions. Broadridge's cloud based post-trade SaaS solution will allow Matsui Securities to process and settle all stock lending and borrowing transactions, manage the corresponding positions, compute required collateral, as well as automatically calculate fees and rebates and manufactured dividends.Story continuesAbout Matsui SecuritiesMatsui Securities Co., Ltd. is an online-focused securities firm that provides financial products and services to retail investors via the internet. Our range of products and services includes Japanese and U.S. stocks, forex, investment trusts, futures options, NISA, and iDeCo. Our corporate philosophy is "Supporting the prosperous lives of customers" and our corporate objective is "Delivering valuable financial products and services to retail investors." Under our corporate slogan, "As a reliable securities broker, we make investment fun and interesting," we are committed to a "reliable" approach to investment while aiming to provide products and services full of ideas that make investing "fun and interesting" through the excitement and enjoyment of the investment experience, helping our customers to discover and grow.About Intelligent WaveIntelligent Wave Inc. is an IT services firm that supports business reliability in sectors including settlement, finance and securities.We have acquired a high share in the domestic Japanese market through developing, building, and maintaining systems for the financial industry that process large volumes of data accurately and in real time, including building online network gateway systems for settlement systems and stock price information distribution gateway systems for the securities market. We are also significantly expanding our information security business by introducing and disseminating our proprietary internal information security products, as well as advanced solutions from overseas, in the domestic market.For more information, please visit: https://www.iwi.co.jp/en/About BroadridgeBroadridge Financial Solutions (NYSE: BR), a global Fintech leader with over $6 billion in revenues, provides the critical infrastructure that powers investing, corporate governance, and communications to enable better financial lives. We deliver technology-driven solutions that drive business transformation for banks, broker-dealers, asset and wealth managers and public companies. Broadridge's infrastructure serves as a global communications hub enabling corporate governance by linking thousands of public companies and mutual funds to tens of millions of individual and institutional investors around the world. Our technology and operations platforms underpin the daily trading of more than $10 trillion of equities, fixed income and other securities globally. A certified Great Place to Work®, Broadridge is part of the S&P 500® Index, employing over 14,000 associates in 21 countries.For more information about us, please visit www.broadridge.com.Broadridge Contacts:Investors:Edings ThibaultHead of Investor Relations, Broadridgebroadridgeir@broadridge.comMedia:Gregg RosenbergGlobal Head of Corporate CommunicationsGregg.Rosenberg@broadridge.comBroadridge Logo. (PRNewsFoto/Broadridge Financial Solutions) CisionView original content to download multimedia:https://www.prnewswire.com/news-releases/matsui-securities-adopts-broadridges-post-trade-solution-to-drive-stock-lending-efficiency-302084796.htmlSOURCE Broadridge Financial Solutions, Inc.

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Matsui Securities Adopts Broadridge's Post Trade Solution to Drive Stock Lending Efficiency

https://finance.yahoo.com/news/matsui-securities-adopts-broadridges-post-230000152.html

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In this article, we will take a look at 13 Countries with the Best Citizenship by Investment Program in the World. You can skip our detailed analysis and go directly to the 5 Countries with the Best Citizenship by Investment Program in the World. The growing trend of increased international mobility has fueled the desire to expand not only one's cultural experiences but also financial ones. With the evolving dynamics of dual citizenship, the appeal for acquiring a second citizenship has intensified, prompting individuals to explore viable options. This is particularly true for investors and high-net-worth individuals. Citizenship-by-investment programs offer one such method, creating a win-win situation for all parties involved. By investing in the host country's economy, investors can secure a second citizenship and passport, while the host country benefits from the influx of foreign direct investment, thereby strengthening its economy.Citizenship By Investment Programs: Host Country Advantages Citizenship-through-investment programs have experienced increasing popularity over time. According to the Investment Migration Council, approximately 5,000 individuals are granted citizenship through investment, annually. It is estimated that citizenship and residence by investment programs contribute between 2% and 30% to the GDP of the host country. The European Parliament Research Service reported earnings of 9.2 billion euros from 2008 to 2018 through investment programs. Similarly, other regions have also reported impressive revenue generation. For instance, Vanuatu earned $40.5 million from citizenship-by-investment programs from January 2022 to June 2022.In 2022, approximately 1,375 applications were submitted for citizenship through investment programs in the three most sought-after Caribbean Islands—Antigua & Barbuda, Saint Lucia, and Grenada. While the 2019 pandemic initially dampened the upward trend, its reversal led to a subsequent revival. However, even in the face of the pandemic, revenues from the investment programs in 2019 exceeded those of 2018 for most countries. Notably, Turkey's citizenship-by-investment program generated US $1,343 million in 2019, compared to $106 million in 2018, and the country issued the highest number of passports in citizenship-by-investment programs—9,962. Similarly, revenues for other countries, such as Vanuatu ($105 million), Antigua and Barbuda ($99 million), and Grenada ($61 million), also surpassed their 2018 figures in 2019.Story continuesCitizenship By Investment Programs: Financial Allure for Investors In contemporary times, acquiring second citizenship offers numerous benefits. One key advantage is the enhanced sense of security that comes with being a national of two or more states. Additionally, the concept of visa-free global mobility has taken on new significance, proving to be particularly advantageous for investors. Beyond that, individuals can enjoy various tax benefits and increased opportunities for business advancement, as well as personal development through an improved quality of life, encompassing education and healthcare.It is, therefore, unsurprising that a growing number of millionaires are seizing this opportunity. According to Henley & Partner, the number of millionaires relocating to another country reached 128,000 by 2024, a substantial increase from 51,000 in 2013. Notably, 6,705 Americans renounced their citizenship in 2020 to move to other countries, with tax avoidance emerging as a primary motivation for some of these millionaires.Given this need for better finances, it is not surprising that companies like Intuit Inc. (NASDAQ:INTU) and Broadridge Financial Solutions, Inc. (NYSE:BR) have gained significance for entrepreneurs. Intuit Inc. (NASDAQ:INTU) is a multinational business software company that provides top-notch financial software services. Here’s what Baron Fintech Fund had to say about Intuit Inc. (NASDAQ:INTU) in their fourth quarter 2023 investor letter:“Intuit Inc. (NASDAQ:INTU) is the leading provider of accounting software for small businesses and tax preparation software for individuals and tax professionals. Shares increased after the company reported quarterly financial results that exceeded Street expectations, with 15% revenue growth and 49% EPS growth. Intuit is benefiting from the sale of higher-value services and is well positioned to capitalize on increasing adoption of artificial intelligence (AI) given its vast data sets. The company recently launched Intuit Assist, a generative AI-powered digital assistant that improves productivity and unlocks valuable insights for customers. We continue to own the stock due to Intuit’s strong competitive position and numerous growth opportunities.”Broadridge Financial Solutions, Inc. (NYSE:BR) is a leading provider of investor communication and helps financial services firms by providing technology-driven solutions, including tax reporting services. Continuously upgrading their solutions, Broadridge Financial Solutions, Inc. (NYSE:BR) has recently introduced NYFIX Fill Matching platform, aimed at helping high asset managers with high volumes.13 Countries with the Best Citizenship by Investment Program in the WorldMethodologyIn order to compile our list for 13 Countries with the Best Citizenship by Investment Program in the World, we start off by scouring through various sources to extract citizenship by investment programs being offered around the world. We then used our article 10 Cheapest Residency or Citizenship by Investment Programs in Europe, as well as other sources, to find and rank these countries according to the minimum required investment and the time to citizenship. We then further check their political stability and absence of violence/terrorism percentile rank from The World Bank databank, 2022 and rank our selected countries according to those scores. We also use Human Development Index Ranking, 2022. To present a consolidated final ranking, we average the ranks for the four metrics on the weighted-average concept, with cost awarded the highest rank (0.5), followed by time (0.3) and then equal values for the other two metrics (0.1 each). We also talk about The Henley Citizenship Program Index, 2024 scores and rankings for these countries.By the way, Insider Monkey is an investing website that uses a consensus approach to identify the best stock picks of more than 900 hedge funds investing in US stocks. The website tracks the movement of corporate insiders and hedge funds. Our top 10 consensus stock picks of hedge funds outperformed the S&P 500 stock index by more than 140 percentage points over the last 10 years (see the details here). So, if you are looking for the best stock picks to buy, you can benefit from the wisdom of hedge funds and corporate insiders.Now that we have made a thorough analysis, we present to you 13 Countries with the Best Citizenship by Investment Program in the World. 13. AustriaMinimum Investment Rank: 13Time to Citizenship Rank: 6Political Stability Rank: 6Human Development Index Rank: 2Insider Monkey Weighted-Average Ranking: 9.4Austria's citizenship-by-investment program stands out as one of the initiatives requiring a significant investment in either joint ventures or direct business investments, with the goal of creating jobs and fostering new export sales. The selected businesses are expected to possess an international reputation and demonstrate growth potential. Under this citizenship program, the minimum required investment is €2 million, with the possibility to invest up to €10 million. The application process typically takes 24 to 36 months.While the investment required is indeed substantial, the benefits of obtaining Austrian citizenship are manifold. Austria, being a politically stable, safe, and developed nation, offers a high quality of life to its citizens. Austrian passport holders enjoy the privilege of visa-free travel to approximately 190 countries and the freedom to reside anywhere within the European Union and Switzerland. Notably, Austria holds the 2nd position on the Henley and Partner Citizenship Program Index for 2024, achieving top scores in attributes such as quality of life, visa-free travel, residence requirements, and relocation flexibility. It's essential to note, however, that except for certain specific cases, acquiring Austrian citizenship entails renouncing one's previous nationality.12. JordanMinimum Investment Rank: 12Time to Citizenship Rank: 4Political Stability Rank: 3Human Development Index Rank: 9Insider Monkey Weighted-Average Ranking: 8.4As a Middle-Eastern nation offering citizenship through investment, Jordan presents a unique opportunity for investors seeking to establish strong ties with the country and capitalize on lucrative economic prospects. Geographically situated between Asia, Africa, and Europe, Jordan provides a secure, politically stable, and business-friendly environment for potential investors. The minimum investment required is US $750,000, directed towards a productive economic sector project located outside of Amman, which should generate at least 10 jobs for Jordanians. Citizenship is typically granted within a span of 3 to 6 months, with a higher likelihood of approval within the shorter timeframe. The program extends to the individual investor and their immediate family members, encompassing children under 18, widowed or divorced daughters, as well as parents.The citizenship of this Middle-Eastern country opens doors to numerous opportunities, particularly as it grants citizenship in a region known for its stability and safety, coupled with visa-free travel to 50 destinations. According to the Henley and Partner's Citizenship Program Index for 2024, the country is ranked 6th overall. The program received a higher score for processing time, residence requirements, and physical visit requirements. In summary, Jordan emerges as one of the countries offering one of the best citizenship programs in the world.11. MaltaMinimum Investment Rank: 11Time to Citizenship Rank: 7Political Stability Rank: 8Human Development Index Rank: 1Insider Monkey Weighted-Average Ranking: 8.2Citizenship through investment in Europe has become increasingly common in contemporary times. While the aforementioned Austrian citizenship is also European, the high associated costs can sometimes be beyond the reach of certain individuals. Malta, however, offers an alternative with a slightly more accessible investment requirement. The process involves a minimum donation of €600,000 to the National Development and Social Fund, securing a minimum residence of 36 months through the Malta Citizenship for Exceptional Services by Direct Investment program. Additionally, applicants have the flexibility to include family members, extending eligibility to include grandparents.Ranked among the top 25 countries on the Human Development Index and recognized for its political stability, Malta offers a high quality of life for its residents. With the privilege of visa-free travel to over 180 destinations, Malta stands at the pinnacle of Henley & Partner's Citizenship Index, boasting the highest scores in various aspects, including visa-free travel, compliance, and relocation flexibility.10. CambodiaMinimum Investment Rank: 9Time to Citizenship Rank: 3Political Stability Rank: 9Human Development Index Rank: 5Insider Monkey Weighted-Average Ranking: 7.1As one of the rapid citizenship programs, Cambodia offers investors the opportunity to acquire citizenship by making a minimum donation of approximately US $320,000, including fees, to the Royal Government. The country boasts beautiful scenery, rich heritage, and friendly people. Citizenship can be obtained in a relatively short period, typically within 3-4 months. While passport holders from Cambodia enjoy visa-free travel to 53 countries, the nation maintains a politically stable environment. Notably, Cambodia secures the 9th position in the Henley & Partner Citizenship Index, earning high scores for residence and physical visit requirements. It also makes to the 10th position in our list of countries with the best citizenship by investment program in the world.9. TurkeyMinimum Investment Rank: 10Time to Citizenship Rank: 4Political Stability Rank: 1Human Development Index Rank: 3Insider Monkey Weighted-Average Ranking: 6.6Turkey's citizenship-by-investment program stands as one of the most renowned programs globally. Since the reduction of their minimum investment requirements in 2018, over 13,000 investors and their families have seized this opportunity. The program offers a diverse range of options, with the minimum required investment set at $400,000 in real estate. This investment must be maintained for a minimum of three years after obtaining citizenship. The citizenship application process typically takes 3-6 months and extends to family members, including children below 18 years or children of any age with disabilities.This citizenship offers numerous benefits, including visa-free travel to over 110 countries and access to a financially sound, stable, and safe country with a high quality of life. The investors can also become eligible for E-2 Investor Visa for the US after being domiciled in Turkey for three years. Turkey holds the 5th position on the Henley & Partner Citizenship Index, boasting high scores in physical visit and residence requirement rules.8. Saint Kitts and NevisMinimum Investment Rank: 7Time to Citizenship Rank: 4Political Stability Rank: 9Human Development Index Rank: 6Insider Monkey Weighted-Average Ranking: 6.2As the world's first formal citizenship-through-investment program, Saint Kitts and Nevis has welcomed numerous investors since its establishment in 1984, offering them the opportunity to become residents of one of the most beautiful Caribbean Islands. The program remains a top choice for many investors, naturalizing over 1,000 investors and their families annually. Among its two investment options, the minimum-cost route involves a US $250,000 investment in a Sustainable Island State Contribution. Citizenship can be attained in approximately 3-6 months.Citizenship in Saint Kitts and Nevis offers a multitude of benefits, including visa-free travel to approximately 157 destinations, the inclusion of family members such as parents and dependents, and the option of citizenship by descent for future generations. The country holds the 4th position in the Henley & Partner Index, earning high scores in the physical visit and residence requirement categories.7. EgyptMinimum Investment Rank: 7Time to Citizenship Rank: 5Political Stability Rank: 1Human Development Index Rank: 8Insider Monkey Weighted-Average Ranking: 5.9Considered one of the world's newest citizenship-through-investment programs, Egypt offers investors five different options. The option with the minimum investment involves making a non-refundable contribution to the CIU account in the central bank of the country, totaling US $250,000. The process for obtaining citizenship typically takes 6-9 months.Ranking high on the political stability index, Egypt offers a rich cultural experience within the Middle East. Residents can enjoy visa-free travel to 51 destinations. The country secures the 6th place in the Henley & Partner Index, scoring notably high on various attributes, including travel destinations, compliance, process time, and physical visit, as well as residence requirements. It is thus, no surprise that Egypt is one of the countries with the best citizenship by investment program in the world.6. GrenadaMinimum Investment Rank: 5Time to Citizenship Rank: 4Political Stability Rank: 12Human Development Index Rank: 4Insider Monkey Weighted-Average Ranking: 5.3Grenada has emerged as a popular choice among investors seeking citizenship through investment programs. With a stable economy and political environment, the country offers lucrative options for investors. The minimum investment entails a donation of US $150,000 to the National Transformation Fund for a single applicant, with citizenship available in 3-6 months.This investment option in Grenada comes with various benefits. Investors have the opportunity for an E2 visa for the US, thanks to the country being a signatory to the United States E2 Treaty. Grenadian citizens can also enjoy visa-free travel to over 140 countries, transfer their citizenship to future generations, and include family members such as parents and grandparents. The program's appeal is reflected in Grenada's 3rd position on the Henley & Partner Index, where it scored high on various attributes.Click to continue reading and see our 5 Countries with the Best Citizenship by Investment Program in the World.Suggested Articles: 20 Best US Cities to Retire with $1 Million in Retirement Savings20 Countries with Highest Income Tax Rates in Europe12 Best AI ETFs To Invest In 2024Disclosure: None. 13 Countries with the Best Citizenship by Investment Program in the World is originally published on Insider Monkey.

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13 Countries with the Best Citizenship by Investment Program in the World

https://finance.yahoo.com/news/13-countries-best-citizenship-investment-161811995.html

86114d76-d05b-3413-be0c-72cacecb3e33

BRK.B

Stock futures may be easing off the gas pedal ahead of this week's Personal Consumption Expenditures (PCE) index print.Walmart (WMT) is set to begin trading Monday morning after a 3-for-1 stock split that took effect on last Friday's market close.Lastly, Berkshire Hathaway (BRK-A, BRK-B) posts its second consecutive year of record annual profits, outlined in Chairman and CEO Warren Buffett's shareholder letter released on Saturday, February 24.For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.Editor's note: This article was written by Luke Carberry Mogan.Video TranscriptSEANA SMITH: But the three things that you need to know, your roadmap for the trading day. Yahoo Finance's Brian Sozzi, Madison Mills, and Jared Blikre have more.BRIAN SOZZI: All right. Futures are searching for direction this morning after a blowout earnings report from AI darling NVIDIA sent stocks to record highs last week. The largest challenge to markets in the week ahead will likely come from the personal consumption expenditures index, the Federal Reserve's preferred inflation gauge. That's out on Thursday.MADISON MILLS: And a historic day for Walmart. This is the largest retailer in the US. They will begin trading on a post split basis at the market open coming up at 9:30 today. The three for one stock split is going to increase the number of common stock shares to about 8.1 billion. That's going to be up from 2.7 billion shares before this split. Now, this is the 12th time in 50 years that Walmart has done a stock split, in an effort to make shares more affordable for its employees.JARED BLIKRE: And investors are digesting Warren Buffett's annual letter to Berkshire Hathaway shareholders. Shares of Berkshire, they are rising about 1.5%, 2% on the letter. The conglomerate, they're closing in on the $1 trillion market cap milestone.The letter released on Saturday kicks off by paying tribute to his longtime right-hand man and vice chairman Charlie Munger, who died last November at the age of 99. Buffett goes on to disclose Berkshire hit an all time high annual profit in 2023 and has record cash levels of just over $167 billion.

Yahoo Finance Video

Markets, Walmart stock split, Berkshire Hathaway: 3 Things

https://finance.yahoo.com/video/markets-walmart-stock-split-berkshire-142229076.html

683dbdfa-61cd-347f-84c2-520a64f30c40

BRK.B

Berkshire Hathaway (BRK-A, BRK-B) reported blockbuster earnings, with massive cash balances reaching $167.6 billion. CFRA Equity Research Vice President Cathy Seifert joins Yahoo Finance Live to discuss her outlook on the company.Seifert says "the numbers were decent" considering Berkshire's enormous size. She notes Berkshire has strong insurance, reinsurance and commercial business lines that help drive results. However, she points to potential stock pressure from weaker segments like their utility holdings.Seifert adds that the annual letter to shareholders "addressed" many investor concerns. But with Berkshire being so large, she notes "it's really difficult to move the needle" for a company of this scale.For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.Editor's note: This article was written by Angel SmithVideo TranscriptJOSH LIPTON: Berkshire Hathaway shares pulling back after hitting a record high early in the session. The company reporting a big profit gain in the fourth quarter. The highs of the day. That company was closing in on a $1 trillion market cap.And joining us now is CFRA vice president of equity research Cathy Seifert. Cathy, it is good to see you. Just looking at these results.So Berkshire's reporting posts a record, Cathy. 37.4 billion in operating profit. Interesting to get your take, Cathy, on the report. What did you make of it?CATHY SEIFERT: I thought the numbers were decent. I mean, this is a large company. And for all of 2023, they posted almost a 20% operating revenue growth.Berkshire has a really good insurance franchise in Geico, and a reinsurance franchise, and as well as a commercial lines franchise. And that really drove results. That plus higher investment income.I mean, there are some drags on results. And I think one of the reasons why the stock may be a little weak today is some concerns over Berkshire's utilities exposure, and some of the wildfire liability that their utilities subsidiaries have. But all in all, I thought it was a really good quarter and a year.Story continuesJULIE HYMAN: Cathy, it's Julie here. What do you make of Warren Buffett's sort of tempering expectations, which I guess is not that unusual for him to do, right? But to say that for a firm of their size to continue to grow at this rate and also to continue to find opportunities is just going to be difficult. Does that something that you think should dissuade investors?CATHY SEIFERT: No. I mean, I think the letter addressed a number of things that had been speculated whether or not Berkshire was going to buy Occidental Petroleum. He addressed that and said definitively they were not the Japanese trading companies, that they took an equity stake in. There was a question about whether or not they were going to acquire those.And I also think that Berkshire is trying to tamp down expectations because they are so large. It's really difficult to move the needle when you're this big which isn't to say that they're not going to deploy some of their 160 plus billion in cash into acquisitions. I just think he's trying to tamp down expectations that he's going to make some blockbuster deal.

Yahoo Finance Video

Berkshire numbers 'decent' considering scale of company: Analyst

https://finance.yahoo.com/video/berkshire-numbers-decent-considering-scale-223405052.html

52564360-b13c-3d0b-b428-ed32cba3cf7f

BRK.B

For Immediate ReleaseChicago, IL – March 11, 2024 – Today, Zacks Equity Research discusses Berkshire Hathaway Inc.(BRK.B), The Progressive Corp. PGR, Chubb Limited CB, The Travelers Companies TRV and AXIS Capital Holdings AXS.Industry: Property & Casualty InsuranceLink: https://www.zacks.com/commentary/2237817/5-property-casualty-insurers-to-buy-as-pricing-improvesThe Zacks Property and Casualty Insurance (P&C) industry is likely to benefit from better pricing, prudent underwriting and exposure growth. Industry players like Berkshire Hathaway Inc., The Progressive Corp., Chubb Limited, The Travelers Companies and AXIS Capital Holdings are poised to grow despite a rise in catastrophic activities. Given an active catastrophe environment, the policy renewal rate should accelerate. Also, the increasing adoption of technology and the emergence of insurtech will help the industry players function smoothly.Though the industry is witnessing an increase in premium pricing, the magnitude has decreased in the last 12 quarters. Nonetheless, an improvement in surplus and accelerated economic activities set the stage for a better M&A environment. Per a report in Carrier Management, AM Best expects profitable commercial lines and improving personal lines, coupled with higher investment returns on increased yields and strong cash flow, to drive the industry's performance in 2024.About the IndustryThe Zacks Property and Casualty Insurance industry comprises companies that provide commercial and personal property insurance, and casualty insurance products and services. Such insurance helps to safeguard property in case of any natural or man-made disasters. Liability coverages are also provided by some industry players. The insurance coverage offered also includes automobiles, professional risk, marine, excess casualty, aviation, personal accident, commercial multi-peril, and professional indemnity and surety.Story continuesPremiums are the primary source of revenues. Better pricing and increased exposure drive premiums. These companies invest a portion of premiums to meet their commitments to policyholders. The Fed made four hikes in 2023, taking the tally to 11 since March 2022. An improving rate environment is a boon for insurers, especially long-tail insurers.4 Trends Shaping the Future of the Property and Casualty Insurance IndustryImproved pricing to help navigate claims: Catastrophes are a concern for insurers due to the high degree of losses incurred. Insurers implement price hikes to ensure uninterrupted claims payment. Global commercial insurance prices rose for 25 straight quarters, per Marsh Global Insurance Market Index. Better pricing will help insurers write higher premiums and address claims payment prudently.Per Fitch Ratings, personal auto is likely to deliver better performance in 2024. This, coupled with better investment results and lower claims, should fuel insurers' performance per Fitch Ratings. Per Deloitte Insights, gross premiums are estimated to increase sixfold to $722 billion by 2030. Analysts at Swiss Re Institute predict premiums to grow 5.5% in 2024.Catastrophe loss induces volatility in underwriting profits: The P&C insurance industry is susceptible to catastrophe events, which drag down underwriting profits. Per reports in Aon, total economic losses were $380 billion in 2023, while insured losses were $118 million. According to AM Best, total net underwriting loss was $38 billion in 2023, a 10-year high, largely attributable to weather-related losses, high inflation as well as reinsurance pricing pressure.The combined ratio was 103.7 for the same time frame per the credit rating giant, to which catastrophe losses added 780 basis points. The credit rating giant also estimates cat loss to contribute 680 basis points to the expected combined ratio of 100.7 in 2024. Underwriting losses are expected to be primarily due to soft performance in personal lines, which are expected to witness higher catastrophe losses per Insurance Information Institute and Milliman.However, exposure growth, better pricing, prudent underwriting and favorable reserve development will help withstand the blow. Also, frequent occurrences of natural disasters should accelerate the policy renewal rate.Merger and acquisitions: Consolidation in the property and casualty industry is likely to continue as players look to diversify their operations into new business lines and geography. Buying businesses along the same lines will also continue as players look to gain market share and grow in their niche areas. With a sturdy capital level, the industry is witnessing a number of mergers, acquisitions and consolidations. Deloitte estimates more mergers and acquisitions in the reinsurance space in 2024.Increased adoption of technology: The industry is witnessing increased use of technology like blockchain, artificial intelligence, advanced analytics, telematics, cloud computing and robotic process automation that expedite business operations and save costs. The industry has also witnessed the emergence of insurtech — technology-led insurers — which creates competition for incumbent players. Insurers continue to invest heavily in technology to improve scale and efficiencies. However, with insurtechs using the latest technologies and concepts that the incumbents are just beginning to experiment with, there remains a huge market risk. The use of technology also poses cyber threats.Zacks Industry Rank Indicates Bright ProspectsThe group's Zacks Industry Rank, which is basically the average of the Zacks Rank of all the member stocks, indicates rosy prospects in the near term. The Zacks Property and Casualty Insurance industry, which is housed within the broader Zacks Finance sector, currently carries a Zacks Industry Rank #34, which places it in the top 13% of more than 250 Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperforms the bottom 50% by a factor of more than 2 to 1.The industry's positioning in the top 50% of the Zacks-ranked industries is a result of a positive earnings outlook for the constituent companies in aggregate. Earnings estimates have increased 0.8% in a year.Before we present a few property and casualty stocks that you may want to consider for your portfolio, let's take a look at the industry's recent stock-market performance and valuation picture.Industry Outperforms S&P 500 and SectorThe Property and Casualty Insurance industry has outperformed both the Zacks S&P 500 composite as well as its sector over the past year. The stocks in this industry have collectively risen 26.6% in a year compared with the Finance sector and the Zacks S&P 500 composite's increases of 17.1% and 25.7%, respectively.Current ValuationOn the basis of the trailing 12-month price-to-book (P/B), which is commonly used for valuing insurance stocks, the industry is currently trading at 1.44X compared with the S&P 500's 6.25X and the sector's 3.51X.Over the past five years, the industry has traded as high as 1.55X, as low as 0.97X and at the median of 1.39X.5 Property and Casualty Insurance Stocks to Add to Your PortfolioWe are recommending two Zacks Rank #1 (Strong Buy) stocks and three Zacks Rank #2 (Buy) stocks from the P&C Insurance industry. You can see the complete list of today's Zacks #1 Rank stocks here.The Progressive Corporation: Based in Mayfield Village, OH, Progressive is one of the major auto insurers in the country. Better pricing, a compelling portfolio, leadership position, strength in Vehicle and Property businesses, healthy policies in force, retention and solid capital position poise this Zacks Rank #1 insurer well for growth.The Zacks Consensus Estimate for PGR's 2024 and 2025 earnings suggests 50.7% and 14.1%, year-over-year growth respectively. The consensus estimate for 2024 and 2025 has moved up 4.1% and 0.3%, respectively, in the past seven days. The expected long-term earnings growth rate is pegged at 21.7%, better than the industry average of 11.9%.AXIS Capital Holdings Ltd.: Bermuda-based AXIS Capital provides a broad range of specialty insurance and reinsurance solutions on a worldwide basis. Its compelling and diversified product portfolio, underwriting excellence, digital capabilities and solid capital position poise this Zacks Rank #1 insurer well for growth. This insurer boasts one of the highest dividend yields among its peers and has raised its dividend for 18 consecutive years.The Zacks Consensus Estimate for AXIS Capital's 2024 and 2025 earnings suggests 3.1% and 10.1% respective year-over-year growth. The consensus estimate for 2024 and 2025 has moved up 0.1% and 10.9%, respectively, in the past 30 days. AXIS Capital's earnings surpassed estimates in each of the last four quarters, the average surprise being 102.57%. The expected long-term earnings growth rate is pegged at 5%.Berkshire Hathaway: Omaha, NE-based Berkshire Hathaway owns more than 90 subsidiaries in insurance, railroads, utilities, manufacturing services, retail and homebuilding. BRK.B is one of the largest property and casualty insurance companies measured by premium volume. BRK.B, carrying a Zacks Rank #2, should continue to benefit from its growing Insurance business as well as Manufacturing, Service and Retailing, and Finance and Financial Products segments. Continued insurance business growth fuels an increase in float, drives earnings and generates maximum return on equity. With Warren Buffett at its helm, Berkshire continues to create tremendous value for shareholders.The Zacks Consensus Estimate for 2024 and 2025 bottom line suggests a year-over-year increase of 7.7% and 15.3%, respectively. The consensus estimate for 2024 has moved up 1.8% in the past 30 days. The expected long-term earnings growth rate is 7%.The Travelers Companies: Based in New York, this Zacks Rank #2 insurer provides a wide variety of property and casualty insurance and surety products and services to businesses, organizations and individuals in the United States. and select international markets. Strong renewal rate change, retention, increase in new business supported by a compelling portfolio and a solid capital position poise TRV well for growth. The company raised its dividend for the 19th consecutive year at a compound annual growth rate of 8% over that period.The Zacks Consensus Estimate for 2024 and 2025 earnings has moved 0.4% and 0.1% north respectively in the past 30 days. The consensus estimate for 2024 and 2025 earnings indicates a year-over-year improvement of 34.7% and 13.8%, respectively. The expected long-term earnings growth rate is 11.5%.Chubb: Based in Zurich, Switzerland, Chubb is one of the world's largest providers of P&C insurance and reinsurance. It has diversified through acquisitions into many specialty lines and also provides specialized insurance products. This Zacks Rank #2 insurer is poised to benefit from its focus on capitalizing on the potential of middle-market businesses and strategic initiatives, which pave the way for long-term growth. Chubb has hiked dividends for the last 30 straight years.The Zacks Consensus Estimate for 2025 bottom line has moved 3 cents north in the past 30 days. The Zacks Consensus Estimate for 2025 earnings indicates an improvement of 10.5% year over year. The expected long-term earnings growth rate is 10%.Why Haven't You Looked at Zacks' Top Stocks? Since 2000, our top stock-picking strategies have blown away the S&P's +7.0 average gain per year. Amazingly, they soared with average gains of +44.9%, +48.4% and +55.2% per year.Today you can access their live picks without cost or obligation.See Stocks Free >>Join us on Facebook: https://www.facebook.com/ZacksInvestmentResearch/Zacks Investment Research is under common control with affiliated entities (including a broker-dealer and an investment adviser), which may engage in transactions involving the foregoing securities for the clients of such affiliates.Media ContactZacks Investment Research800-767-3771 ext. 9339support@zacks.comhttps://www.zacks.comPast performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance  for information about the performance numbers displayed in this press release.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 reportThe Travelers Companies, Inc. (TRV) : Free Stock Analysis ReportChubb Limited (CB) : Free Stock Analysis ReportBerkshire Hathaway Inc. (BRK.B) : Free Stock Analysis ReportAxis Capital Holdings Limited (AXS) : Free Stock Analysis ReportThe Progressive Corporation (PGR) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

Zacks Industry Outlook Highlights Berkshire Hathaway, The Progressive, Chubb, The Travelers Companies and AXIS Capital Holdings

https://finance.yahoo.com/news/zacks-industry-outlook-highlights-berkshire-134000914.html

f5028f5d-ec8a-3351-9567-736fb3fa2d05

BRK.B

The latest trading session saw Berkshire Hathaway B (BRK.B) ending at $404.76, denoting a +0.4% adjustment from its last day's close. This move outpaced the S&P 500's daily loss of 0.11%. Elsewhere, the Dow saw an upswing of 0.12%, while the tech-heavy Nasdaq depreciated by 0.41%.The company's stock has climbed by 1.2% in the past month, falling short of the Finance sector's gain of 4.89% and the S&P 500's gain of 2.7%.Analysts and investors alike will be keeping a close eye on the performance of Berkshire Hathaway B in its upcoming earnings disclosure. In that report, analysts expect Berkshire Hathaway B to post earnings of $3.41 per share. This would mark a year-over-year decline of 7.59%. At the same time, our most recent consensus estimate is projecting a revenue of $81.03 billion, reflecting a 5.11% fall from the equivalent quarter last year.BRK.B's full-year Zacks Consensus Estimates are calling for earnings of $18.50 per share and revenue of $356.08 billion. These results would represent year-over-year changes of +7.68% and -2.3%, respectively.Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Berkshire Hathaway B. These recent revisions tend to reflect the evolving nature of short-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional 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 last 30 days, the Zacks Consensus EPS estimate has witnessed a 1.82% increase. As of now, Berkshire Hathaway B holds a Zacks Rank of #2 (Buy).Story continuesLooking at its valuation, Berkshire Hathaway B is holding a Forward P/E ratio of 21.8. This indicates a premium in contrast to its industry's Forward P/E of 13.61.It's also important to note that BRK.B currently trades at a PEG ratio of 3.11. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Insurance - Property and Casualty was holding an average PEG ratio of 1.14 at yesterday's closing price.The Insurance - Property and Casualty industry is part of the Finance sector. With its current Zacks Industry Rank of 35, this industry ranks in the top 14% of all industries, numbering over 250.The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding 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 reportBerkshire Hathaway Inc. (BRK.B) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

Berkshire Hathaway B (BRK.B) Advances While Market Declines: Some Information for Investors

https://finance.yahoo.com/news/berkshire-hathaway-b-brk-b-215019216.html

e92723bd-eb8f-350f-9e04-dec532c6fcdf

BRO

It has been about a month since the last earnings report for Brown & Brown (BRO). Shares have added about 4.8% in that time frame, outperforming the S&P 500.Will the recent positive trend continue leading up to its next earnings release, or is Brown & Brown due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important drivers.Brown & Brown's Q4 Earnings & Revenues Top EstimatesBrown & Brown's fourth-quarter 2023 adjusted earnings of 58 cents per share beat the Zacks Consensus Estimate by 9.4%. The bottom line increased 16% year over year.The quarterly results reflected strong organic growth, improved EBITDAC margin and higher net investment income, as well as lower expenses.Q4 DetailsTotal revenues of $1.03 billion beat the Zacks Consensus Estimate by 4.6%. The top line improved 13.8% year over year. The upside can be primarily attributed to commission and fees, which grew 12.4% year over year to $1 billion. Our estimate for commission and fees was $943.6 million.Organic revenues improved 7.7% to $922.9 million in the quarter under review.Investment income increased year over year to $18.5 million from $4.7 million in the year-ago quarter. The Zacks Consensus Estimate for the metric was pegged at $16.7 million and our estimate was $17.6 million.Adjusted EBITDAC was $317.7 million, up 11.7% year over year. EBITDAC margin however contracted 40 basis points (bps) year over year to 31%. Our estimate for adjusted EBITDAC was $291.4 million.Total expenses decreased 5.1% to $671.1 million. Our estimate was $764.9 million.Financial UpdateBrown & Brown exited 2023 with cash and cash equivalents of $755.7 million, up 1.1% from the 2022-end level.Long-term debt was $3.1 billion as of Dec 31, 2023, up 0.9% from 2022 end.Net cash provided by operating activities in 2023 was $1 billion, up 14.5% year over year.Story continuesFull-Year HighlightsAdjusted earnings were $2.81 per share, up 23.2% from 2022.Total revenues of $4.3 billion improved 19.1% year over year. Commissions and fees increased 17.9%. Organic revenue growth was 10.2%.Adjusted EBITDAC was $1.4 billion, in line with our estimate and up 23.1% from the 2022 level. Adjusted EBITDAC margin expanded 120 bps to 33.9%. Our estimate was 33.8%.How Have Estimates Been Moving Since Then?It turns out, estimates revision have trended upward during the past month.VGM ScoresAt this time, Brown & Brown has an average Growth Score of C, a grade with the same score on the momentum front. Charting a somewhat similar path, the stock was allocated a grade of D on the value side, putting it in the bottom 40% for this investment strategy.Overall, the stock has an aggregate VGM Score of D. If you aren't focused on one strategy, this score is the one you should be interested in.OutlookEstimates have been broadly trending upward for the stock, and the magnitude of these revisions looks promising. It comes with little surprise Brown & Brown has a Zacks Rank #2 (Buy). We expect an above average return from the stock in the next few months.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 reportBrown & Brown, Inc. (BRO) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

Why Is Brown & Brown (BRO) Up 4.8% Since Last Earnings Report?

https://finance.yahoo.com/news/why-brown-brown-bro-4-163006410.html

9532a104-aa6e-3bc2-a8dd-503fb0e1e3e4

BRO

Comprehensive SWOT analysis based on the latest 10-K filing reveals key insights into Brown & Brown Inc's market position.Strengths highlight Brown & Brown Inc's robust customer service culture and diversified insurance offerings.Opportunities for Brown & Brown Inc include potential market expansion and leveraging technology for service enhancement.Threats facing Brown & Brown Inc encompass industry competition and regulatory changes.Warning! GuruFocus has detected 6 Warning Sign with BRO.On February 22, 2024, Brown & Brown Inc (NYSE:BRO), a leading insurance agent and broker, filed its annual 10-K report for the fiscal year ended December 31, 2023. The company, with a strong presence in property, casualty, and employee benefits insurance, has reported a solid financial performance with a market capitalization of over $16 billion as of June 30, 2023. Brown & Brown Inc operates primarily in the United States, with significant business concentration in Florida. The company's financial stability is reflected in its revenue streams, which are primarily derived from commissions and fees, indicating a sustainable business model with limited underwriting risk exposure. This financial overview sets the stage for a detailed SWOT analysis, providing investors with critical insights into the company's strategic positioning and future prospects.Decoding Brown & Brown Inc (BRO): A Strategic SWOT InsightStrengthsMarket Position and Brand Reputation: Brown & Brown Inc's market position is bolstered by its long-standing history dating back to 1939 and its reputation as a reliable insurance provider. The company's strong brand equity is evidenced by its significant market capitalization, which stands as a testament to investor confidence and market recognition. The brand's reputation is further reinforced by its decentralized, merit-based culture, which promotes a sense of ownership among employees, with over 60% of U.S. teammates owning stock in the company. This culture has translated into a customer-centric approach, resulting in high levels of customer satisfaction and loyalty.Story continuesDiversified Insurance Offerings: The company's diversified portfolio across property, casualty, and employee benefits insurance, as well as its specialized programs for professionals and industries, provides a competitive edge. This diversification allows Brown & Brown Inc to mitigate risks associated with market fluctuations and to cater to a broad customer base. The company's ability to offer targeted, customized risk management products and services positions it as a versatile player in the insurance market.WeaknessesGeographic Concentration: Despite its nationwide operations, Brown & Brown Inc's business concentration in Florida poses a geographic risk. This concentration could lead to vulnerabilities in the event of region-specific economic downturns, regulatory changes, or natural disasters. The company's financial performance could be adversely affected if such events were to disrupt the Florida insurance market significantly.Dependence on Key Insurance Company Relationships: Brown & Brown Inc's commission-based revenue model is heavily reliant on its relationships with insurance companies. Any loss of or significant change to these relationships could result in a decrease in capacity to write business, additional expenses, and a material reduction in commissions. This dependence on external partnerships is a potential weakness that could impact the company's ability to maintain and grow its market share.OpportunitiesTechnological Advancements: The insurance industry is rapidly evolving with technological advancements. Brown & Brown Inc has the opportunity to leverage technology to enhance its service offerings, streamline operations, and improve customer experiences. By investing in digital platforms and data analytics, the company can gain insights into customer needs and market trends, enabling it to offer more personalized and efficient services.Market Expansion: Brown & Brown Inc's growth strategy includes the potential for market expansion through strategic acquisitions. The company's successful integration of 33 companies in 2023 demonstrates its capability to expand its footprint and diversify its services. Continued focus on high-quality acquisitions and entry into new markets presents significant opportunities for growth and increased market share.ThreatsCompetitive Insurance Market: The insurance industry is highly competitive, with numerous players vying for market share. Brown & Brown Inc faces competition from traditional insurance companies, technology firms, and financial services providers. This competitive landscape requires the company to continuously innovate and differentiate its offerings to retain and attract customers.Regulatory Changes: The insurance industry is subject to stringent regulations that can impact business operations. Changes in laws, such as data privacy and protection or insurance carrier compensation arrangements, could increase compliance costs and restrict the company's ability to operate freely. Brown & Brown Inc must stay abreast of regulatory developments to mitigate the potential adverse effects on its profitability and growth.In conclusion, Brown & Brown Inc (NYSE:BRO) exhibits a strong market position with a diversified insurance portfolio and a culture that promotes employee ownership and customer satisfaction. However, geographic concentration and reliance on insurance company relationships are areas that require strategic attention. The company is well-positioned to capitalize on technological advancements and market expansion opportunities, but it must navigate a competitive landscape and regulatory changes with agility. Brown & Brown Inc's strategic approach to these dynamics will be crucial in maintaining its market leadership and driving future success.This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.This article first appeared on GuruFocus.

GuruFocus.com

Decoding Brown & Brown Inc (BRO): A Strategic SWOT Insight

https://finance.yahoo.com/news/decoding-brown-brown-inc-bro-050209293.html

2a150000-0c5d-3874-99fc-8a6d1a187095

BRO

Brown & Brown, Inc. BRO has acquired the assets of Hillco Insurance. This acquisition is expected to strengthen BRO’s presence in Dallas.Dallas-based Hillco Insurance is an independent agency, which specializes in personal and commercial coverage for individuals, families and their businesses. It remains focused on providing insurance solutions for its wide range of customers with a better understanding of the needs of the Texas insurance market.The addition of Hillco Insurance is a strategic fit for Brown & Brown as it will be able to leverage the capabilities and focus that the latter have in high-net worth personal lines and commercial insurance solutions. The buyout will enable BRO to expand in the Dallas metropolitan area and provide the acquirer with better growth opportunities. This marks the first acquisition by Brown & Brown in the first quarter of 2024.BRO and its subsidiaries continuously make strategic acquisitions to expand on a global scale, add capabilities, boost its operations and improve margins. Also, these strategic buyouts help Brown & Brown increase commissions and fees, which, in turn, drive revenues. Consistent operational results have been aiding the insurer in generating solid cash flows for deployment in growth initiatives.Brown & Brown’s impressive growth is supported by organic and inorganic means across all segments. It intends to make consistent investments to drive organic growth and margins. Its solid earnings have allowed the company to expand its capabilities, with the buyouts extending the company’s geographic footprint. The insurer will continue to work on its acquisition pipeline, acquiring companies that fit BRO’s operational and strategic layout.Price PerformanceShares of this Zacks Rank #2 (Buy) insurance broker have gained 49.6% over the past year compared with the industry’s growth of 20.1%. A persistent operational performance, higher commissions and fees, and a sturdy capital position will help the broker retain the momentum.Story continuesZacks Investment ResearchImage Source: Zacks Investment ResearchAcquisitions by Other Industry PlayersMarsh & McLennan Companies, Inc.’s MMC Marsh McLennan Agency (“MMA”), a division of MMC’s Marsh business, recently closed buyouts of two middle-market agencies of Louisiana, Querbes & Nelson (“Q&N”) and Louisiana Companies. The twin buyouts are expected to strengthen the capabilities of MMA as well as solidify its presence significantly across Louisiana. The addition of Q&N is expected to bolster the business insurance and employee health and benefits offerings suite of MMA.The acquisition underscores Marsh & McLennan's strategic inorganic growth approach, exemplified by various purchases across its operating units. These acquisitions have facilitated entry into new regions, expansion in existing ones, diversification into new businesses and the development of new segments. The prudent acquisitions position the company for sustained long-term growth.Arthur J. Gallagher & Co. AJG acquired London-based The Wright Agency Limited, dba Simply-Communicate Ltd (“Simply") in February 2024. With this acquisition, AJG will leverage Simply's expertise in digital transformation and digital experience to enhance its existing capabilities in the employee communication space.Arthur J. Gallagher has an impressive inorganic story with buyouts in the Brokerage and Risk Management segments. The insurer is growing through mergers and acquisitions, most of which are within its Brokerage segment. AJG has a solid merger and acquisition pipeline with about 40 term sheets either agreed upon or being prepared, representing more than $350 million of annualized revenues.Other Stock to ConsiderAnother top-ranked stock from the insurance industry is Ryan Specialty Holdings, Inc. RYAN, carrying a Zacks Rank #2 at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.The bottom line of Ryan Specialty outpaced earnings estimates in two of the last four quarters and matched the mark twice, the average surprise being 5.05%. Over the past year, the insurer has gained 37.7%.The Zacks Consensus Estimate for RYAN’s 2024 earnings and revenues suggests a rise of 28.2% and 19.5%, respectively, from the prior-year reported figures.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 reportMarsh & McLennan Companies, Inc. (MMC) : Free Stock Analysis ReportArthur J. Gallagher & Co. (AJG) : Free Stock Analysis ReportBrown & Brown, Inc. (BRO) : Free Stock Analysis ReportRyan Specialty Holdings Inc. (RYAN) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

Brown & Brown (BRO) Buys Hillco Insurance, Boosts Portfolio

https://finance.yahoo.com/news/brown-brown-bro-buys-hillco-120600004.html

54720894-41d4-33f1-83dd-625a777f417c

BRO

Aon plc AON recently announced that it has acquired the technology assets and intellectual property of Humn.ai. Aon, as a professional services firm, will benefit from enhanced offerings to clients, further improving its core value proposition. The new capability will provide tools and data-powered insights, which are expected to improve business decision making.This move bodes well for AON’s Commercial Risk Solutions business, which experienced an organic revenue growth of 4% year over year in the fourth quarter. More commissions earned will increase the company’s top line in the future. This collaboration will benefit from the AI capability, aiding Aon’s clients to get a real-time view of their fleet performance, thereby reducing the total cost of risk and accidents. The AI platform will provide insights based on vehicle, driver and contextual data.This initiative highlights Aon’s continuous investments in technology and innovative products. Aon will be able to further advance its analytics, insights and technology footprint, by serving mobility and fleet clients. The company is also expanding this technology’s reach by launching a comprehensive risk analytics offering to deliver personalized data-driven insights. AON aims to provide innovative solutions to help clients make better decisions regarding their insurance coverage.This partnership marks a significant step toward achieving the goal of technological innovation and better customer-centric services. The company aims to deliver mid-single-digit or higher organic revenue growth for 2024 and beyond. Moves like this should lend a hand in achieving its long-term growth objectives. Moreover, enhanced offerings will help the company win and retain more customers.Price PerformanceShares of Aon have gained 8.8% year to date compared with the industry’s rise of 11.3%.Zacks Investment ResearchImage Source: Zacks Investment ResearchZacks Rank & Key PicksAon currently carries a Zacks Rank #3 (Hold).Story continuesSome better-ranked stocks from the Brokerage Insurance space are Ryan Specialty Holdings, Inc. RYAN, Brown & Brown, Inc. BRO and Erie Indemnity Company ERIE. While Ryan Specialty sports a Zacks Rank #1 (Strong Buy), Brown & Brown and Erie Indemnity carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.Ryan Specialty has a decent track record of beating earnings estimates in two of the last four quarters, meeting twice, the average being 5.1%. In the year-to-date period, RYAN has gained 26.2%.The Zacks Consensus Estimate for Ryan Specialty 2024 and 2025 earnings per share (EPS) is pegged at $1.77 and $2.13, indicating a year-over-year increase of 28.3% and 20.3%, respectively.The Zacks Consensus Estimate for Brown & Brown 2024 and 2025 EPS is pegged at $3.20 and $3.48, indicating a year-over-year increase of 13.9% and 8.6%, respectively. In the year-to-date period, BRO has gained 20.7%.BRO beat estimates in each of the last four quarters, the average being 11.2%.Erie Indemnity’s bottom line outpaced estimates in three of the trailing four quarters, missing once, the average being 11.2%. The Zacks Consensus Estimate for ERIE’s 2024 earnings indicates an 18.3% rise, while the same for revenues suggests 11.4% growth from the respective prior-year reported figures. The consensus mark for ERIE’s 2024 earnings has moved 2.4% north in the past 30 days.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 reportAon plc (AON) : Free Stock Analysis ReportBrown & Brown, Inc. (BRO) : Free Stock Analysis ReportErie Indemnity Company (ERIE) : Free Stock Analysis ReportRyan Specialty Holdings Inc. (RYAN) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

AON Acquires Humn.ai to Enhance Fleet & Mobility Offerings

https://finance.yahoo.com/news/aon-acquires-humn-ai-enhance-141200935.html

b4b1fa03-1a11-3534-89c6-9b922442fd81

BSX

For those looking to find strong Medical stocks, it is prudent to search for companies in the group that are outperforming their peers. Artivion (AORT) 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? Let's take a closer look at the stock's year-to-date performance to find out.Artivion is one of 1067 companies in the Medical group. The Medical group currently sits at #4 within the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.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. Artivion is currently sporting a Zacks Rank of #1 (Strong Buy).The Zacks Consensus Estimate for AORT's full-year earnings has moved 2500% higher within the past quarter. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.According to our latest data, AORT has moved about 9.5% on a year-to-date basis. In comparison, Medical companies have returned an average of 6%. This shows that Artivion is outperforming its peers so far this year.Boston Scientific (BSX) is another Medical stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 13.7%.Over the past three months, Boston Scientific's consensus EPS estimate for the current year has increased 0.9%. The stock currently has a Zacks Rank #2 (Buy).Breaking things down more, Artivion is a member of the Medical - Instruments industry, which includes 91 individual companies and currently sits at #79 in the Zacks Industry Rank. On average, stocks in this group have gained 4.4% this year, meaning that AORT is performing better in terms of year-to-date returns.Story continuesBoston Scientific, however, belongs to the Medical - Products industry. Currently, this 96-stock industry is ranked #166. The industry has moved +6.5% so far this year.Artivion and Boston Scientific could continue their solid performance, so investors interested in Medical stocks should continue to pay close attention to these stocks.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 reportArtivion, Inc. (AORT) : Free Stock Analysis ReportBoston Scientific Corporation (BSX) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

Is Artivion (AORT) Outperforming Other Medical Stocks This Year?

https://finance.yahoo.com/news/artivion-aort-outperforming-other-medical-144013153.html

1b780e42-e6a1-39f3-a80e-cca3990903b3

BSX

MARLBOROUGH, Mass., Feb. 22, 2024 /PRNewswire/ -- Boston Scientific Corporation (the "Company") (NYSE: BSX) today announced that American Medical Systems Europe B.V., its wholly owned finance subsidiary, has priced a public offering of €750,000,000 aggregate principal amount of 3.375% notes due 2029 and €1,250,000,000 aggregate principal amount of 3.500% notes due 2032 (collectively, the "Notes"). The Notes will be fully and unconditionally guaranteed by the Company. The offering is being made pursuant to a registration statement filed with the U.S. Securities and Exchange Commission.Boston Scientific Corporation (PRNewsFoto/Boston Scientific Corporation) (PRNewsFoto/Boston Scientific Corporation)The offering is expected to close on February 27, 2024, subject to customary closing conditions. The Company intends to use the net proceeds from the offering, together with borrowings under its commercial paper program and cash on hand, to finance the purchase price of the Company's previously announced agreement to acquire Axonics, Inc. and to pay related fees and expenses and, to the extent that the net proceeds from the offering of the Notes are not used for such purposes, to fund the repayment at maturity of the Company's 3.450% senior notes due March 2024 and to pay accrued and unpaid interest with respect to such notes, and for general corporate purposes.Nothing herein shall constitute an offer to sell or the solicitation of an offer to buy the securities, nor shall there be any sale of the securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to qualification under the securities laws of any such state or jurisdiction. The offering is being made by means of a prospectus and related preliminary prospectus supplement only, copies of which or information concerning this offering may be obtained by contacting the joint book-running managers: Barclays Bank PLC, toll-free at 1-888-603-5847; Citigroup Global Markets Europe AG, toll-free at 1-800-831-9146; or Société Générale, toll-free at 1-855-881-2108.Story continuesAbout Boston ScientificBoston Scientific transforms lives through innovative medical technologies that improve the health of patients around the world. As a global medical technology leader for more than 40 years, we advance science for life by providing a broad range of high-performance solutions that address unmet patient needs and reduce the cost of health care. Our portfolio of devices and therapies helps physicians diagnose and treat complex cardiovascular, respiratory, digestive, oncological, neurological and urological diseases and conditions. Learn more at www.bostonscientific.com and connect on LinkedIn and X, formerly Twitter.Cautionary Statement Regarding Forward-Looking StatementsThis 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. Forward-looking statements may be identified by words like "anticipate," "expect," "project," "believe," "plan," "estimate," "intend" and similar words. These forward-looking statements are based on our beliefs, assumptions and estimates using information available to us at the time and are not intended to be guarantees of future events or performance. These forward-looking statements include, among other things, statements regarding the proposed offering and intended use of proceeds. If our underlying assumptions turn out to be incorrect, or if certain risks or uncertainties materialize, actual results could vary materially from the expectations and projections expressed or implied by our forward-looking statements. These factors, in some cases, have affected and in the future (together with other factors) could affect our ability to implement our business strategy and may cause actual results to differ materially from those contemplated by the forward-looking statements expressed in this press release. As a result, readers are cautioned not to place undue reliance on any of our forward-looking statements.Risks and uncertainties that may cause such differences include, among other things: economic conditions, including the impact of foreign currency fluctuations; future U.S. and global political, competitive, reimbursement and regulatory conditions; geopolitical events; manufacturing, distribution and supply chain disruptions and cost increases; disruptions caused by cybersecurity events; disruptions caused by public health emergencies or extreme weather or other climate change-related events; labor shortages and increases in labor costs; variations in outcomes of ongoing and future clinical trials and market studies; new product introductions and the market acceptance of those products; market competition for our products; expected pricing environment; expected procedural volumes; the closing and integration of acquisitions; demographic trends; intellectual property rights; litigation; financial market conditions; the execution and effect of our restructuring program; the execution and effect of our business strategy, including our cost-savings and growth initiatives; our ability to achieve environmental, social and governance goals and commitments; and future business decisions made by us and our competitors. New risks and uncertainties may arise from time to time and are difficult to predict. All of these factors are difficult or impossible to predict accurately and many of them are beyond our control. For a further list and description of these and other important risks and uncertainties that may affect our future operations, see Part I, Item 1A – Risk Factors in our most recent Annual Report on Form 10-K filed with the Securities and Exchange Commission, which we may update in Part II, Item 1A – Risk Factors in Quarterly Reports on Form 10-Q we will file hereafter. We disclaim any intention or obligation to publicly update or revise any forward-looking statements to reflect any change in our expectations or in events, conditions or circumstances on which those expectations may be based, or that may affect the likelihood that actual results will differ from those contained in the forward-looking statements. This cautionary statement is applicable to all forward-looking statements contained in this press release.CONTACTS:Emily AndersonMedia Relations(617) 515-2000 (office)Emily.Anderson2@bsci.com Lauren TenglerInvestor Relations(508) 683-4479BSXInvestorRelations@bsci.com CisionView original content to download multimedia:https://www.prnewswire.com/news-releases/boston-scientific-announces-pricing-of-2-0-billion-of-senior-notes-302069473.htmlSOURCE Boston Scientific Corporation

PR Newswire

Boston Scientific Announces Pricing of €2.0 Billion of Senior Notes

https://finance.yahoo.com/news/boston-scientific-announces-pricing-2-022700625.html

cceab4f6-618f-367e-8597-14154b72fe27

BSX

(Bloomberg) -- Boston Scientific Corp.’s proposed $3.7 billion acquisition of medical device maker Axonics Inc. will likely be scrutinized by the US Federal Trade Commission because the companies are the dominant providers of some treatments for urinary incontinence, according to antitrust experts.Most Read from BloombergChemical Linked to Cancer Found in Acne Creams Including Proactiv, ClearasilHow Trump’s Ex-Treasury Chief Landed 2024's Highest-Profile US Bank DealStocks Climb on Bets Fed, ECB Closer to Rate Cuts: Markets WrapNikki Haley Ends 2024 Bid, Setting Up Trump-Biden RematchNew York to Deploy National Guard to NYC Subways to Fight CrimeThe deal announced in January would give Boston Scientific — whose urology business brought in $1.96 billion in 2023 — the two leading treatments for stress urinary incontinence in women, a condition where people accidentally urinate in response to bladder pressure caused by laughing, sneezing, exercising or other activities.Boston Scientific already is the top maker of vaginal slings, a thin strip of surgical mesh implanted to provide support for the urethra. Acquiring Axonics, a maker of devices to treat urinary and bowel dysfunction, would give the larger company the most popular alternative treatment — Bulkamid, a urethral bulking hydrogel.“There’s going to be a concern about Boston Scientific owning the No. 1 mesh and the No. 1 bulking agent,” Bloomberg Intelligence analyst Jennifer Rie said.Boston Scientific’s portfolio of products includes treatments for kidney stones, prostate cancer and incontinence. In January, the company said acquiring Axonics’s treatments for overactive bladder and other conditions would complement its own urology business.The two companies said in a regulatory filing they expect to close the deal in the first half of the year. But if they can’t complete it because of opposition from antitrust regulators, the agreement calls for Boston Scientific to pay Axonics a $140 million termination fee.Story continuesAntitrust authorities were notified of the deal on Jan. 30, according to a regulatory filing, but so far the companies haven’t disclosed whether the FTC has expanded its initial review to a more in-depth probe.Boston Scientific didn’t respond to a request for comment on the deal.Incontinence MarketAs many as 154 million women worldwide experience stress urinary incontinence, which can be caused by pregnancy, menopause or weight gain. For women, the two most common procedures involve a vaginal sling or urethral bulking hydrogel, a material injected into the organ’s walls to add volume and support.Boston Scientific offers the most used vaginal sling though Coloplast A/S, Johnson & Johnson’s Ethicon Inc. and Caldera Medical Inc. offer similar products. Meanwhile, Axonics’s urethral bulking hydrogel, Bulkamid, accounted for about 80% of the market in 2022, according to an investor presentation, with Boston Scientific’s Coaptite as the second most used bulking agent followed by Coloplast’s Durasphere. Axonics reported $74.4 million in revenue for Bulkamid in its last fiscal year.Because bulking agents are less invasive and cheaper – the procedure can be performed in a doctor’s office with local anesthesia – they have begun to replace slings in some cases. In the same investor presentation, Axonics estimated that bulking agents accounted for one-third of surgical incontinence treatments for women in the US in 2022.Boston Scientific would probably need to divest Axonics’s Bulkamid to relieve the concerns of regulators because it wouldn’t be enough to only unload its own, less-used bulking agent products, Bloomberg’s Rie said.Last year, Boston Scientific called off plans to acquire a majority stake in South Korea’s M.I.Tech Co. because of opposition from the FTC and other regulators. M.I.Tech offers a metallic stent used in the gastrointestinal system and airways. Boston Scientific also makes several types of gastrointestinal and esophageal stents.--With assistance from John Lauerman.Most Read from Bloomberg BusinessweekHow Apple Sank About $1 Billion a Year Into a Car It Never BuiltThe Battle to Unseat the Aeron, the World’s Most Coveted Office ChairHumanoid Robots at Amazon Provide Glimpse of an Automated WorkplaceHow Microsoft’s Bing Helps Maintain Beijing’s Great FirewallImmigration Rage Drowns Out the US Labor Market’s Need for Workers©2024 Bloomberg L.P.

Bloomberg

Boston Scientific Likely Faces FTC Scrutiny on $3.7 Billion Axonics Deal

https://finance.yahoo.com/news/boston-scientific-likely-faces-ftc-100000440.html

0bcb74eb-b7c2-36a5-8e65-630ca60669f3

BSX

It has been about a month since the last earnings report for Envista (NVST). Shares have lost about 5.8% in that time frame, underperforming the S&P 500.Will the recent negative trend continue leading up to its next earnings release, or is Envista due for a breakout? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important drivers.Envista Q4 Earnings Miss Estimates, Margins DownEnvista reported fourth-quarter 2023 adjusted earnings per share of 29 cents, down 44.2% year over year. The bottom line missed the Zacks Consensus Estimate by 12.1%.The adjustments include charges and benefits related to the amortization of acquired intangible assets, goodwill and intangible asset impairment, among others.The company’s loss from continuing operations was $1.27 in the quarter compared with the year-ago quarter’s EPS of 45 cents.For the full year, adjusted earnings were $1.53 per share, reflecting a 21.2% fall from the year-ago period. It also missed the Zacks Consensus Estimate by 3.2%.Revenues in DetailRevenues totaled $645.6 million in the reported quarter, down 2.3% year over year. However, the metric topped the Zacks Consensus Estimate by 2.3%.Total revenues for 2023 were $2.57 billion, dropping 0.1% from the year-ago period’s levels. The figure beat the Zacks Consensus Estimate by 0.8%.Segments in DetailIn the fourth quarter, Speciality Products & Technologies totaled $415.9 million, up 4.4%. Within the segment, Envista’s Orthodontic business rose nearly 15%, with Spark continuing to outperform.Revenues in the Equipment & Consumables segment fell 12.5% year over year to $229.7 million in the quarter under review. The downside was primarily due to the timing of orders in the North American distribution channel.Operational UpdateGross profit in the reported quarter fell 8.3% year over year to $335.9 million.Story continuesGross margin contracted 339 basis points (bps) to 52%.Selling, general and administrative expenses were up 2.6% year over year to $260.2 million. Research and development expenses fell 17.9% year over year to $20.2 million.Operating profit of $55.5 million fell 36.9% year over year. The operating margin contracted 472 bps to 8.6%.Financial UpdateEnvista ended 2023 with cash and cash equivalents of $940 million compared with $606.9 million at the end of 2022. Total long-term debt was $1.39 billion at the end of 2023 compared with $870.7 million at the end of 2022.Net cash provided by operating activities at the end of 2023 was $275.7 million compared with $182.7 million a year ago.2024 GuidanceEnvista provided 2024 guidance.For the full year 2024, Envista expects core sales to grow by low-single digits. The Zacks Consensus Estimate for 2024 revenues is pegged at $2.60 billion.Adjusted EBITDA margins are expected to be 16-17%.How Have Estimates Been Moving Since Then?It turns out, estimates revision have trended downward during the past month.The consensus estimate has shifted -16.37% due to these changes.VGM ScoresCurrently, Envista has an average Growth Score of C, though it is lagging a bit on the Momentum Score front with a D. Charting a somewhat similar path, the stock was allocated a grade of C on the value side, putting it in the middle 20% for this investment strategy.Overall, the stock has an aggregate VGM Score of C. If you aren't focused on one strategy, this score is the one you should be interested in.OutlookEstimates have been broadly trending downward for the stock, and the magnitude of these revisions indicates a downward shift. It's no surprise Envista has a Zacks Rank #5 (Strong Sell). We expect a below average return from the stock in the next few months.Performance of an Industry PlayerEnvista belongs to the Zacks Medical - Products industry. Another stock from the same industry, Boston Scientific (BSX), has gained 4.3% over the past month. More than a month has passed since the company reported results for the quarter ended December 2023.Boston Scientific reported revenues of $3.73 billion in the last reported quarter, representing a year-over-year change of +14.9%. EPS of $0.55 for the same period compares with $0.45 a year ago.For the current quarter, Boston Scientific is expected to post earnings of $0.51 per share, indicating a change of +8.5% from the year-ago quarter. The Zacks Consensus Estimate has changed -0.2% over the last 30 days.The overall direction and magnitude of estimate revisions translate into a Zacks Rank #3 (Hold) for Boston Scientific. Also, the stock has a VGM Score of C.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 reportEnvista Holdings Corporation (NVST) : Free Stock Analysis ReportBoston Scientific Corporation (BSX) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

Envista (NVST) Down 5.8% Since Last Earnings Report: Can It Rebound?

https://finance.yahoo.com/news/envista-nvst-down-5-8-163051883.html

241b8403-1de6-35c6-9d78-45081a230ea6

BWA

AUBURN HILLS, Mich., Feb. 22, 2024 /PRNewswire/ -- BorgWarner Inc. (NYSE: BWA) ("the Company") today announced that it has received notice of an unsolicited mini-tender offer by TRC Capital Investment Corporation of Ontario, Canada, to purchase up to 4 million shares of BorgWarner common stock at a price of $28.80 per share in cash. TRC Capital Investment's offer price of $28.80 per share represents a 4.51% discount below BorgWarner Inc.'s closing price on February 20, 2024, the last trading day before the offer commenced (which represents a 5.94% discount below BorgWarner Inc.'s closing price today, February 22, 2024). The offer is for approximately 1.74% of the shares of common stock outstanding at December 31, 2023.BorgWarner logo. (PRNewsfoto/BorgWarner)BorgWarner does not endorse TRC Capital Investment's unsolicited mini-tender offer and recommends that stockholders do not tender their shares in response to TRC Capital Investment's offer because the offer is at a price below the current market price for BorgWarner's shares and subject to numerous conditions.BorgWarner is not affiliated or associated in any way with TRC Capital Investment, its mini-tender offer, or its offer documentation.TRC Capital Investment has made many similar mini-tender offers for shares of other companies. Mini-tender offers seek to acquire less than 5 percent of a company's shares outstanding, thereby avoiding many disclosure and procedural requirements of the U.S. Securities and Exchange Commission (SEC) that apply to offers for more than 5 percent of a company's shares outstanding. As a result, mini-tender offers do not provide investors with the same level of protections as provided for larger tender offers under U.S. securities laws.BorgWarner encourages brokers and dealers, as well as other market participants, to review the SEC's guidance to investors on mini-tender offers found here: SEC.gov | Mini-Tender Offers: Tips for Investors.Story continuesShareholders should consult with their broker or financial advisor and exercise caution with respect to TRC Capital Investment's mini-tender offer. Shareholders who have already tendered their shares may withdraw them at any time prior to the expiration of the offer by providing the written notice described in the TRC Capital Investment offer documents. According to the offer documents, the offer is currently scheduled to expire at 12:01 a.m., New York City time, on March 21, 2024, unless TRC Capital Investment extends or terminates the offer earlier.BorgWarner requests that a copy of this news release be included with all distributions of materials related to TRC Capital Investment's mini-tender offer related to BorgWarner common stock.About BorgWarnerFor more than 130 years, BorgWarner has been a transformative global product leader bringing successful mobility innovation to market. Today, we're accelerating the world's transition to eMobility – to help build a cleaner, healthier, safer future for all.CisionView original content to download multimedia:https://www.prnewswire.com/news-releases/borgwarner-recommends-stockholders-reject-the-below-market-mini-tender-offer-by-trc-capital-investment-corporation-302069431.htmlSOURCE BorgWarner Inc.

PR Newswire

BorgWarner Recommends Stockholders Reject the Below Market Mini-Tender Offer by TRC Capital Investment Corporation

https://finance.yahoo.com/news/borgwarner-recommends-stockholders-reject-below-005300441.html

d8059a3d-f8ed-3797-b06a-2a56c8c85fca

BWA

It looks like BorgWarner Inc. (NYSE:BWA) is about to go ex-dividend in the next 4 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 as the process of settlement involves two full business days. So if you miss that date, you would not show up on the company's books on the record date. Therefore, if you purchase BorgWarner's shares on or after the 29th of February, you won't be eligible to receive the dividend, when it is paid on the 15th of March.The company's next dividend payment will be US$0.11 per share, on the back of last year when the company paid a total of US$0.44 to shareholders. Based on the last year's worth of payments, BorgWarner stock has a trailing yield of around 1.4% on the current share price of US$30.41. 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 BorgWarner has been able to grow its dividends, or if the dividend might be cut. View our latest analysis for BorgWarner 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. BorgWarner paid out just 21% of its profit last year, which we think is conservatively low and leaves plenty of margin for unexpected circumstances. Yet cash flows are even more important than profits for assessing a dividend, so we need to see if the company generated enough cash to pay its distribution. Luckily it paid out just 23% of its free cash flow last year.It's positive to see that BorgWarner's dividend is covered by both profits and cash flow, since this is generally a sign that the dividend is sustainable, and a lower payout ratio usually suggests a greater margin of safety before the dividend gets cut.Story continuesClick here to see the company's payout ratio, plus analyst estimates of its future dividends.historic-dividendHave Earnings And Dividends Been Growing?Businesses with shrinking earnings are tricky from a dividend perspective. If earnings decline and the company is forced to cut its dividend, investors could watch the value of their investment go up in smoke. BorgWarner's earnings per share have fallen at approximately 9.3% a year over the previous five years. When earnings per share fall, the maximum amount of dividends that can be paid also falls.Another key way to measure a company's dividend prospects is by measuring its historical rate of dividend growth. BorgWarner's dividend payments per share have declined at 1.3% per year on average over the past 10 years, which is uninspiring.To Sum It UpHas BorgWarner got what it takes to maintain its dividend payments? BorgWarner has comfortably low cash and profit payout ratios, which may mean the dividend is sustainable even in the face of a sharp decline in earnings per share. Still, we consider declining earnings to be a warning sign. Overall, it's hard to get excited about BorgWarner from a dividend perspective.So while BorgWarner looks good from a dividend perspective, it's always worthwhile being up to date with the risks involved in this stock. Case in point: We've spotted 2 warning signs for BorgWarner you should be aware of.If you're in the market for strong dividend payers, we recommend checking our selection of top dividend stocks.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.

Simply Wall St.

BorgWarner Inc. (NYSE:BWA) Pays A US$0.11 Dividend In Just Four Days

https://finance.yahoo.com/news/borgwarner-inc-nyse-bwa-pays-122115036.html

ac7d93cd-7244-362a-86a1-9be22f33eb5d

BWA

Partnership will support BorgWarner in reaching Scope 3 emissions reduction goalSuppliers will be encouraged to use tool to track energy usageAUBURN HILLS, Mich., March 6, 2024 /PRNewswire/ -- BorgWarner has entered into a strategic partnership with Manufacture 2030, a decarbonization software provider, to effectively measure and reduce its supply chain carbon footprint and support its goal of reducing absolute Scope 3 greenhouse gas (GHG) emissions 25% by 2030.BorgWarner logo. (PRNewsfoto/BorgWarner)Through the agreement, BorgWarner will leverage M2030's extensive expertise in CO2 reduction and unique software to encourage its direct material suppliers to increase their emissions reduction efforts. M2030 will work directly with BorgWarner's supply base to gather energy usage data related to the manufacturing of products such as electricity, natural gas and more. That data will then be fed into an interactive dashboard where emissions and energy reduction efforts can be tracked. The tool also provides best practice sharing opportunities for pursuing emissions reduction. By utilizing the tool, BorgWarner will promote collaboration, accountability and engagement across its supply base on emissions reduction."BorgWarner is greatly looking forward to working together with M2030 and utilizing the decarbonization resources the company offers. Reducing our carbon footprint in our supply base is a vital step in creating a cleaner, more sustainable future for all," said Volker Weng, Vice President of BorgWarner Inc. and President and General Manager, BorgWarner Drivetrain and Battery Systems, Environmental Sustainability Lead. "Offering this software to our suppliers enables them to manage, track and reduce their emissions, which in turn enables us to reduce our Scope 3 emissions footprint."Most recently, the SBTi validated BorgWarner's targets to reduce absolute Scope 1 and 2 GHG emissions 85%, and absolute Scope 3 GHG emissions 25% by 2030, both from a 2021 base year. Another key lever in the company's pursuit of Scope 3 emissions reduction is the company's Charging Forward accelerated electrification strategy, which aims to advance its position as a technology leader in eProducts and maximize its foundational portfolio.Story continuesAbout BorgWarnerFor more than 130 years, BorgWarner has been a transformative global product leader bringing successful mobility innovation to market. Today, we're accelerating the world's transition to eMobility – to help build a cleaner, healthier, safer future for all.About Manufacture 2030Manufacture 2030 provides global brands, corporations and their small and medium-sized suppliers with the data, tools and support they need to be certain they can hit their GHG emissions reduction targets. Its unique AI-powered software platform and support services help measure, manage, and reduce emissions across global supply chains. For more information, visit https://manufacture2030.com.Forward Looking Statements: This release may contain forward-looking statements as contemplated by the 1995 Private Securities Litigation Reform Act that are based on management's current outlook, expectations, estimates and projections. Words such as "anticipates," "believes," "continues," "could," "designed," "effect," "estimates," "evaluates," "expects," "forecasts," "goal," "guidance," "initiative," "intends," "may," "outlook," "plans," "potential," "predicts," "project," "pursue," "seek," "should ," "target," "when," "will," "would," and variations of such words and similar expressions are intended to identify such forward-looking statements. Further, all statements, other than statements of historical fact, contained or incorporated by reference in this release that we expect or anticipate will or may occur in the future regarding our financial position, business strategy and measures to implement that strategy, including changes to operations, competitive strengths, goals, expansion and growth of our business and operations, plans, references to future success and other such matters, are forward-looking statements. Accounting estimates, such as those described under the heading "Critical Accounting Policies and Estimates" in Item 7 of our most recently filed Annual Report on Form 10-K ("Form 10-K"), are inherently forward-looking. All forward-looking statements are based on assumptions and analyses made by us in light of our experience and our perception of historical trends, current conditions and expected future developments, as well as other factors we believe are appropriate under the circumstances. Forward-looking statements are not guarantees of performance, and the Company's actual results may differ materially from those expressed, projected or implied in or by the forward-looking statements.You should not place undue reliance on these forward-looking statements, which speak only as of the date of this release. Forward-looking statements are subject to risks and uncertainties, many of which are difficult to predict and generally beyond our control, that could cause actual results to differ materially from those expressed, projected or implied in or by the forward-looking statements. These risks and uncertainties, among others, include: supply disruptions impacting us or our customers, such as the current shortage of semiconductor chips that has impacted original equipment manufacturer ("OEM") customers and their suppliers, including us; commodity availability and pricing, and an inability to achieve expected levels of recoverability in commercial negotiations with customers concerning these costs; competitive challenges from existing and new competitors including OEM customers; the challenges associated with rapidly changing technologies, particularly as they relate to electric vehicles, and our ability to innovate in response; the difficulty in forecasting demand for electric vehicles and our electric vehicles revenue growth; disruptions in the global economy caused by wars, including the wars in Ukraine and the Middle East; the ability to identify targets and consummate acquisitions on acceptable terms; failure to realize the expected benefits of acquisitions on a timely basis; the possibility that our recently-completed tax-free spin-off of our former Fuel Systems and Aftermarket segments into a separate publicly traded company will not achieve its intended benefits for us; the failure to promptly and effectively integrate acquired businesses; the potential for unknown or inestimable liabilities relating to the acquired businesses; our dependence on automotive and truck production which is highly cyclical and subject to disruptions; our reliance on major OEM customers; the extent, duration, and impact of the recent and any future strikes involving some of our OEM customers and any actions such OEM customers take in response; fluctuations in interest rates and foreign currency exchange rates; our dependence on information systems; the uncertainty of the global economic environment; the outcome of existing or any future legal proceedings, including litigation with respect to various claims, or governmental investigations, including related litigation; future changes in laws and regulations, including, by way of example, taxes and tariffs, in the countries in which we operate; impacts from any potential future acquisition or disposition transactions; and the other risks noted in reports that we file with the Securities and Exchange Commission, including Item 1A, "Risk Factors" in our most recently filed Form 10-K and/or Quarterly Report on Form 10-Q. We do not undertake any obligation to update or announce publicly any updates to or revisions to any of the forward-looking statements in this release to reflect any change in our expectations or any change in events, conditions, circumstances, or assumptions underlying the statements.CisionView original content to download multimedia:https://www.prnewswire.com/news-releases/borgwarner-partners-with-manufacture-2030-to-reduce-supply-chain-emissions-302081467.htmlSOURCE BorgWarner

PR Newswire

BorgWarner Partners with Manufacture 2030 to Reduce Supply Chain Emissions

https://finance.yahoo.com/news/borgwarner-partners-manufacture-2030-reduce-140000471.html

b7475a2c-8515-3ef9-be85-386ce999a0d5

BWA

In the latest trading session, BorgWarner (BWA) closed at $32.04, marking a -0.74% move from the previous day. This change lagged the S&P 500's 0.65% loss on the day. Meanwhile, the Dow lost 0.18%, and the Nasdaq, a tech-heavy index, lost 1.16%.Heading into today, shares of the auto parts supplier had gained 2.54% over the past month, lagging the Auto-Tires-Trucks sector's gain of 2.76% and the S&P 500's gain of 3.4% in that time.Analysts and investors alike will be keeping a close eye on the performance of BorgWarner in its upcoming earnings disclosure. It is anticipated that the company will report an EPS of $0.88, marking a 19.27% fall compared to the same quarter of the previous year. At the same time, our most recent consensus estimate is projecting a revenue of $3.54 billion, reflecting a 15.34% fall from the equivalent quarter last year.For the full year, the Zacks Consensus Estimates project earnings of $3.91 per share and a revenue of $14.76 billion, demonstrating changes of +4.27% and -6.81%, respectively, from the preceding year.Additionally, investors should keep an eye on any recent revisions to analyst forecasts for BorgWarner. These revisions help to show the ever-changing nature of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.Our research shows that these estimate changes are directly correlated with near-term stock prices. 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, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, there's been a 7.61% fall in the Zacks Consensus EPS estimate. BorgWarner is holding a Zacks Rank of #4 (Sell) right now.Story continuesIn the context of valuation, BorgWarner is at present trading with a Forward P/E ratio of 8.26. This signifies a discount in comparison to the average Forward P/E of 13.1 for its industry.One should further note that BWA currently holds a PEG ratio of 1.02. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. As of the close of trade yesterday, the Automotive - Original Equipment industry held an average PEG ratio of 0.86.The Automotive - Original Equipment industry is part of the Auto-Tires-Trucks sector. At present, this industry carries a Zacks Industry Rank of 145, placing it within the bottom 43% of over 250 industries.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.Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding 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 reportBorgWarner Inc. (BWA) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

Here's Why BorgWarner (BWA) Fell More Than Broader Market

https://finance.yahoo.com/news/heres-why-borgwarner-bwa-fell-230011669.html

fbaf40c3-841c-3580-b0f3-2d178e7e79d9

BX

Blackstone (NYSE:BX) Full Year 2023 ResultsKey Financial ResultsRevenue: US$7.68b (down 4.1% from FY 2022).Net income: US$1.39b (down 20% from FY 2022).Profit margin: 18% (down from 22% in FY 2022).EPS: US$1.84 (down from US$2.36 in FY 2022).earnings-and-revenue-growthAll figures shown in the chart above are for the trailing 12 month (TTM) periodBlackstone EPS Beats Expectations, Revenues Fall ShortRevenue missed analyst estimates by 1.3%. Earnings per share (EPS) exceeded analyst estimates by 2.3%.Looking ahead, revenue is forecast to grow 24% p.a. on average during the next 3 years, compared to a 6.6% growth forecast for the Capital Markets industry in the US.Performance of the American Capital Markets industry.The company's shares are down 2.2% from a week ago.Risk AnalysisYou should learn about the 3 warning signs we've spotted with Blackstone (including 1 which is potentially serious).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.

Simply Wall St.

Blackstone Full Year 2023 Earnings: EPS Beats Expectations, Revenues Lag

https://finance.yahoo.com/news/blackstone-full-2023-earnings-eps-110246523.html

e18bfda5-63c7-3dbb-b4d6-8410fdadc90c

BX

The Goldman Sachs Group, Inc. GS, intending to capitalize on the significant growth of the private credit industry, entered a partnership with Mubadala Investment, an Abu Dhabi sovereign wealth fund. The companies will jointly invest $1 billion in private credit deals in multiple Asia-Pacific markets with a particular focus on India.The funds will be deployed through a separately managed account, which will be managed by GS through its dedicated on-ground team in Asia and a global private credit team.A number of financial institutions have been making efforts to enter into the $1.7 trillion global private credit market, given attractive opportunities and high demand in the space. Mubadala has been investing in private debt opportunities since 2009, mostly in the North America and Europe markets, but it has been recently focusing attention toward the Asia market.Omar Eraiqat, the co-head of the credit investment unit at Mubadala stated, "The diverse and rapidly growing economies, as well as the increasing private-equity deal volumes, are significantly driving demand in Asia Pacific for customized credit solutions from non-traditional lenders."Further, Greg Olafson, global head of private credit at Goldman said, "The opportunity in private credit in Asia-Pacific is expansive."Per Preqin’s data, private credit market in the region has grown 3.5 times in the last 10 years. Notably, in 2022, the market size in the region reached $81.3 billion and is further expected to touch $100 billion by 2027.The partnership is similar to the one Goldman made with Ontario Municipal Employees Retirement System in September 2023 to co-invest in private credit transactions in the Asia Pacific region.The expansion into the private credit space will likely drive Goldman’s revenue growth amid efforts to scale back its consumer banking business and focusing on its core strengths of investment banking, trading and asset management.Story continuesGoldman’s shares have gained 20% in the past six months compared with the industry’s growth of 12%.Zacks Investment ResearchImage Source: Zacks Investment ResearchGS presently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.Partnerships of Other Finance FirmsBlackstone Inc. BX entered a partnership with BNP Paribas SA BNPQY to form a new fund financed by French individuals. The aim of the fund will be to invest in companies in private debt.BX’s vehicle, dubbed “Blackstone Credit Privé Europe SC,” aims to tap into the large pool of savings held by French retail investors via the country’s most popular tax-efficient life insurance product.This new France-dedicated fund, which is aimed at investing in middle-sized companies, fits well with Blackstone’s group strategy targeting individual investors.BNPQY and Blackstone said that clients of the French lender’s private bank unit and insurance division would benefit from an exclusivity period ending on Apr 5, 2024, to invest in the fund.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 reportThe Goldman Sachs Group, Inc. (GS) : Free Stock Analysis ReportBlackstone Inc. (BX) : Free Stock Analysis ReportBNP Paribas SA (BNPQY) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

Goldman (GS) in Partnership With Mubadala Invests in $1B Fund

https://finance.yahoo.com/news/goldman-gs-partnership-mubadala-invests-174800539.html

7a7d484a-86d5-30b5-b3c6-73b25364bbef

BX

Blackstone Inc. (BX) closed at $123.30 in the latest trading session, marking a -1.22% move from the prior day. This change lagged the S&P 500's daily gain of 0.51%. On the other hand, the Dow registered a gain of 0.2%, and the technology-centric Nasdaq increased by 0.58%.The the stock of investment manager has risen by 1.02% in the past month, lagging the Finance sector's gain of 4.57% and the S&P 500's gain of 2.94%.The upcoming earnings release of Blackstone Inc. will be of great interest to investors. The company is expected to report EPS of $1, up 3.09% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.55 billion, up 2.66% from the year-ago period.Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $4.92 per share and revenue of $12.38 billion, indicating changes of +24.56% and +27.68%, respectively, compared to the previous year.Investors might also notice recent changes to analyst estimates for Blackstone Inc. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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 shifted 0.56% downward. Blackstone Inc. is holding a Zacks Rank of #3 (Hold) right now.Investors should also note Blackstone Inc.'s current valuation metrics, including its Forward P/E ratio of 25.36. Its industry sports an average Forward P/E of 11.36, so one might conclude that Blackstone Inc. is trading at a premium comparatively.Story continuesWe can additionally observe that BX currently boasts a PEG ratio of 1. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The average PEG ratio for the Financial - Miscellaneous Services industry stood at 0.97 at the close of the market yesterday.The Financial - Miscellaneous Services industry is part of the Finance sector. With its current Zacks Industry Rank of 148, this industry ranks in the bottom 42% of all industries, numbering over 250.The Zacks Industry Rank is ordered 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.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 reportBlackstone Inc. (BX) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

Blackstone Inc. (BX) Stock Falls Amid Market Uptick: What Investors Need to Know

https://finance.yahoo.com/news/blackstone-inc-bx-stock-falls-230008440.html

5a3d2d66-f8f7-30cd-b9b6-4a7c1a92c7d5

BX

BlackRock Inc. BLK announced the acquisition of the remaining 75% equity stake in SpiderRock Advisors, a leading provider of customized option overlay strategies in the U.S. wealth market. The deal is expected to close in the second quarter of 2024 and is still subject to customary approvals.This transaction is an extension of BlackRock’s minority investment of 25% in the firm in 2021 and reinforces its commitment to personalized separately managed accounts (SMAs). The financial terms of the transaction haven’t been disclosed and its impact on BlackRock’s earnings will be immaterial. As of February 2024, SpiderRock managed roughly $4.8 billion in client assets while BlackRock is an industry leader, with $186 billion in SMAs as of December 2023.Last month, SpiderRock announced plans to utilize put and call options on the most liquid spot bitcoin ETFs to form collars to mitigate the volatility of cryptocurrency investments. Its SMA strategies seek to manage risk and income for single, as well as diversified portfolios and are accessible through family offices, national broker/dealers, institutional channels and registered investment advisors. Given the diverse and unique features of offerings, the deal is expected to further expand BlackRock’s offerings in SMA solutions to meet increased demand for personalized, tax-efficient portfolios by wealth managers. SMAs are one of the rapidly growing product segments in the U.S. wealth industry. Per Cerulli Associates, SMAs are expected to grow to $4 trillion in assets under management (AUM) by 2026 from $2.7 trillion as of Sep 30, 2023. The primary growth driver boosting the demand for SMAs is increased client requirements for customized portfolios to derive tax benefits and value alignments to achieve their investment objectives.Eve Cout, head of Portfolio Design & Solutions Pillar of BlackRock’s U.S. Wealth Advisory Business, said, “Each investor has unique circumstances inherent with a concentrated stock position or existing SMA portfolio. SRA’s highly complementary solutions can provide advisors with a comprehensive suite of customization capabilities that help solve clients’ unique challenges, such as income generation, downside protection, and tax efficiency through the use of options.”This transaction is expected to complement the Aperio acquisition, which was executed in 2021, thus further expanding the SMA offerings to fulfill unique client requirements. SpiderRock’s diverse pool of offerings fits into Aperio’s pioneer consultative client services. In the past, BlackRock has been actively pursuing strategic initiatives to expand inorganically.In January, the company agreed to acquire Global Infrastructure Partners for a total consideration of $3 billion in cash and roughly 12 million shares. The combined entity is expected to have more than $150 billion in infrastructure client AUM across equity, debt and solutions. It will seek to deliver clients a market-leading, holistic infrastructure expertise across equity, debt and solutions at a substantial scale. Over the past six months, shares of BlackRock have gained 20.1% compared with the industry’s 23% growth.Story continuesZacks Investment ResearchImage Source: Zacks Investment ResearchCurrently, BLK carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.Acquisitions Done by Other Asset ManagersLast month, Blackstone Inc. BX announced the acquisition of credit card receivable for its credit & insurance segment approximating $1.1 billion from Barclays PLC BCS.Under the transaction, BCS will enter into a long-term strategic forward flow sale and servicing arrangement with Blackstone related to the accounts. BX’s investments will be made entirely on behalf of the firm’s insurance clients.Similarly, this January, Franklin Resources, Inc. BEN completed the acquisition of Putnam Investments. Putnam had $142 billion (excluding PanAgora) in AUM as of November 2023.The transaction is expected to accelerate BEN’s growth in the retirement space by increasing its defined contribution AUM to more than $100 billion.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 reportBlackstone Inc. (BX) : Free Stock Analysis ReportBarclays PLC (BCS) : Free Stock Analysis ReportFranklin Resources, Inc. (BEN) : Free Stock Analysis ReportBlackRock, Inc. (BLK) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

BlackRock (BLK) to Acquire SpiderRock, Expand SMA Offerings

https://finance.yahoo.com/news/blackrock-blk-acquire-spiderrock-expand-153400609.html

eb9032b9-d896-3f7b-93a3-bfe1b72f14e8

BXP

BOSTON, February 13, 2024--(BUSINESS WIRE)--BXP (NYSE: BXP), the largest publicly traded developer, owner, and manager of premier workplaces in the United States, announced today that Douglas Linde – President, and Michael LaBelle – Chief Financial Officer, will participate in and present at the 2024 BofA Securities Financial Services Conference, which will be held at 1 Hotel South Beach from February 20-22, 2024 in Miami Beach, Florida.BXP’s presentation is expected to begin at approximately 4:10 PM ET on Wednesday, February 21, 2024. During the conference, BXP executives may discuss the current operating environment, trends and strategies; development, redevelopment and other investment activities; and other business and financial matters affecting BXP. A live webcast of this presentation can be accessed by visiting the Investors section of BXP’s website. Shortly after the presentation, a replay of the webcast will be available in the same location.About BXPBXP (NYSE: BXP) is the largest publicly traded developer, owner, and manager of premier workplaces in the United States, concentrated in six dynamic gateway markets - Boston, Los Angeles, New York, San Francisco, Seattle, and Washington, DC. BXP has delivered places that power progress for our clients and communities for more than 50 years. BXP is a fully integrated real estate company, organized as a real estate investment trust (REIT). As of December 31, 2023, including properties owned by unconsolidated joint ventures, BXP’s portfolio totaled 53.3 million square feet and 188 properties, including 10 properties under construction/redevelopment. For more information about BXP, please visit our website or follow us on LinkedIn or Instagram.View source version on businesswire.com: https://www.businesswire.com/news/home/20240213529804/en/ContactsAt BXP Helen HanVice President, Investor Relationshhan@bxp.com 617.236.3429

Business Wire

BXP to Present at the 2024 BofA Securities Financial Services Conference

https://finance.yahoo.com/news/bxp-present-2024-bofa-securities-211500813.html

c0424648-7baa-3ef5-b412-e4236a65b81e

BXP

In the event of a Donald Trump re-election, the real estate investment trust (REIT) sector, particularly those like Boston Properties, Inc. (NYSE:BXP), which specializes in premier office spaces in major U.S. cities, could witness a notable shift. Boston Properties, with its significant presence in key urban markets, could stand to benefit from Trump’s pro-business and real estate development stance, emphasizing deregulation and economic stimulus.Don't Miss:Investing in real estate just got a whole lot simpler. This Dara Khosrowshahi-backed startup will allow you to become a landlord in just 10 minutes, and you only need $100.Commercial real estate has historically outperformed the stock market, but few investors have the capital or resources needed to invest in this asset class. A platform backed by industry giant Marcus & Millichap is changing that, allowing individuals to invest in commercial real estate with as little as $5,000. Boston Properties, boasting a dividend yield of around 6%, is well-positioned within the high-end commercial real estate market, with a portfolio that includes some of the most prestigious office buildings and business spaces. Trump’s policies, known for favoring corporate America and real estate investment, could lead to an enhanced business environment, potentially increasing demand for premium office spaces in urban centers. This scenario would likely bolster the value and occupancy rates of Boston Properties’ assets.Trump’s stance on tax policies, especially concerning real estate and capital gains, could significantly impact the sector. If his administration creates a more favorable tax landscape, it could boost investments in real estate investment trusts (REITs) such as Boston Properties, potentially enhancing their growth and attractiveness to investors. The recent dividend announcement of $0.98 per share for the final quarter of 2023, culminating in total dividends of $3.92 for the year, indicates a positive trajectory for the company.Story continuesTrump’s emphasis on rejuvenating American cities and infrastructure could boost commercial activity in urban centers, which is good news for firms like Boston Properties with significant investments in these areas. Better infrastructure and urban improvements could make these locales more appealing for businesses, possibly increasing the need for office spaces. Investing in Boston Properties, considering the Trump administration’s potential policy direction favoring urban real estate growth, could be a wise move. The company’s dedication to premium office spaces might experience a surge in demand, strengthening its market stance and potentially enhancing dividend outcomes.Read Next:Commercial real estate has historically outperformed the stock market, but few investors have the capital or resources needed to invest in this asset class. A platform backed by industry giant Marcus & Millichap is changing that, allowing individuals to invest in commercial real estate with as little as $5,000. Collecting passive income from real estate just got a whole lot simpler. A new real estate fund backed by Dara Khosrowshahi gives you instant access to a diversified portfolio of rental properties, and you only need $100 to get started.Image credit: Shutterstock"ACTIVE INVESTORS' SECRET WEAPON" Supercharge Your Stock Market Game with the #1 "news & everything else" trading tool: Benzinga Pro - Click here to start Your 14-Day Trial Now!Get the latest stock analysis from Benzinga?BOSTON PROPS (BXP): Free Stock Analysis ReportThis article How a Trump Re-Election Could Skyrocket Demand for This REIT originally appeared on Benzinga.com© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Benzinga

How a Trump Re-Election Could Skyrocket Demand for This REIT

https://finance.yahoo.com/news/trump-election-could-skyrocket-demand-162606302.html

450dec39-bdc8-37be-85ff-47a089c86e6a

BXP

Dividend stocks are a staple of many people’s portfolios. The steady quarterly or monthly income is a great piece of an overall portfolio that can help people meet key financial challenges.But not all dividend stocks offer the same level of safety. Dividend cuts are a sad reality of the industry. And companies’ dividends enter the danger zone when they are businesses facing a structural decline in their industry’s outlook.These three dividend stocks appear to have serious questions about the stability of their earnings and dividends going forward.InvestorPlace - Stock Market News, Stock Advice & Trading TipsBoston Properties (BXP)Closeup of mobile phone screen with logo lettering of boston properties, stock market chart background. BXP stock.Source: Ralf Liebhold / ShutterstockBoston Properties (NYSE:BXP) is a real-estate investment trust (REIT) focused on office properties. Traditionally, it has concentrated in top-tier office markets such as Boston, Los Angeles, New York, San Francisco, Seattle, and Washington, DC.However, since 2020, even these formerly bulletproof markets have come under strain. We’ve seen huge losses taken in prestigious office properties around the country. In San Francisco, for example, offices are selling for as much as 75% below pre-pandemic prices. The New York commercial real estate market, meanwhile, saw 2023 become its worst year since the 2008 Financial Crisis.All this to say that the office market is facing a long-term structural retrenchment. With the rise of remote work and hybrid arrangements, demand for offices has dropped considerably. Even with the economy humming, office demand simply isn’t back to 2019 levels. In a recession, things could get downright grim for the sector.Boston Properties is still paying a 6.1% dividend yield for the time being. But given the need to reposition office properties for the new economic reality, it wouldn’t be at all surprising if Boston Properties cuts its dividend to save that capital for capital expenditures on its properties. Just as the mall real estate sector became dramatically impaired in the 2010s, it seems offices are now a challenged asset class and thus no longer safe plays for dividend investors.Story continuesInternational Paper (IP)A photo of several large rolls of paper in a warehouse.. RFP stock makes paper products.Source: Mark ONCE / Shutterstock.comInternational Paper (NYSE:IP) is a company which makes packaging along with pulp that goes into end products like diapers, towels, and tissues.The company is doing its best to adapt to the times. But, as with Boston Properties, there is a general decline in demand as people spend less time in offices and route more activity through digital workflows. International Paper generated $24 billion in revenues in 2014; that has fallen to $19 billion in 2023.Not surprisingly, profits have been stagnant given the drop in revenues. For 2024, analysts see the company bringing in $2.17 per share in earnings. That only barely will cover the firm’s budgeted $1.85 per share in dividends. While the 5.3% dividend yield may seem nice, it is only marginally covered out of earnings. In a recession, it seems quite possible that International Paper might resort to slashing its dividend.Hasbro (HAS)The Hasbro (HAS) logo with several of the brand's characters behind it is on display in a convention hall.Source: ShutterstockHasbro (NYSE:HAS) is a toys and games company. It makes traditional toys and games along with digital entertainment products and its Wizards of the Coast division which creates trading cards and role-playing games.Investors have long been circling around Hasbro, arguing the company’s assets should be worth more. In theory, could well be true. Wizards of the Coast, in particular, could be a valuable standalone asset though it is facing layoffs right now.In any case, a series of missteps have caused Hasbro to fail to live up to its potential. The company’s revenues have slumped from $6.0 billion in 2021 to $5.0 billion in 2023 and further declines are expected in 2024.Hasbro is on a major restructuring spree right now and is trying to turn things around. That may or may not work out. But one thing is clear: The company’s 5.7% dividend yield seems overly generous given its struggling business operations. It could be a prudent move for the company to cut the dividend to save those funds for its core operations.On the date of publication, Ian Bezek did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.Ian Bezek has written more than 1,000 articles for InvestorPlace.com and Seeking Alpha. He also worked as a Junior Analyst for Kerrisdale Capital, a $300 million New York City-based hedge fund. You can reach him on Twitter at @irbezek.More From InvestorPlaceChatGPT IPO Could Shock the World, Make This Move Before the AnnouncementMusk’s “Project Omega” May Be Set to Mint New Millionaires. Here’s How to Get In.It doesn’t matter if you have $500 or $5 million. Do this now.The post Danger Zone: 3 Dividend Stocks to Steer Clear of Now appeared first on InvestorPlace.

InvestorPlace

Danger Zone: 3 Dividend Stocks to Steer Clear of Now

https://finance.yahoo.com/news/danger-zone-3-dividend-stocks-200847109.html

bfbe2f61-a1f7-3754-8788-d1b02bc00781

BXP

Boston Properties BXP boasts a portfolio of Class A office assets in a few select markets of the United States. Although the overall demand for office spaces in some markets is likely to be subdued in the near term, healthy tenant demand for premier office assets and the company’s ability to offer such spaces will likely drive decent leasing activity and help it tide over near-term challenges.With the pandemic’s impacts waning, the return-to-office policies implemented by many companies, coupled with a relatively low unemployment rate and consistent job growth, are likely to drive the demand for Boston Properties’ strategically located, high-quality office properties in dynamic gateway markets — Boston, Los Angeles, New York, San Francisco, Seattle and Washington, DC. Given the robust demand for life-science assets, BXP is expected to witness healthy leasing activities in the life-science portfolio, driving the segment’s growth.This office real estate investment trust (REIT) enjoys a diversified, creditworthy tenant base, which includes several bellwethers. The long-term leases with these tenants assure stable revenue generation for the company, driving steady top-line growth.In 2023, the company executed 4.2 million square feet of leases, with a weighted average lease term of 8.2 years. As of Dec 31, 2023, the weighted-average remaining lease term for its 20 largest clients, based on leased square footage, was 10.2 years. With 2.7 million square feet of leases in its pipeline, Boston Properties is well-positioned to navigate through the current challenging environment. Although we estimate a 0.7% year-over-year increase in lease revenues in 2024, the same is expected to climb 2% in 2025.Boston Properties’ encouraging development and redevelopment pipeline is likely to fuel net operating income growth in the coming years. The company projects the properties under development and redevelopment through 2026 to add $249 million to the company’s share of net operating income cash upon stabilization. It also projects seeing a 4.4% compound annual growth rate (CAGR) from development projects through 2026. The company’s solid balance sheet position, with $3.4 billion of liquidity as of Dec 31, 2023, is likely to help it capitalize on long-term growth opportunities.However, the U.S. office real estate market continues to struggle from the after-effects of the health crisis, with negative absorption and high vacancy levels. The lackluster environment can be attributed to the continuation of work-from-home, flexible or hybrid work setups, which have diminished office space utilization. Although property tours and leases under negotiation continue to take place, there is less urgency from clients to make new commitments. Also, persistent macroeconomic uncertainty has led to a slowdown in leasing activities.For 2024, management expects to have sticky occupancy due to some tenant defaults in addition to contractual expirations. For 2024, management expects average in-service portfolio occupancy between 87.2% and 88.6%. We anticipate the company to maintain an occupancy rate of 87.9% in 2024.A high interest rate environment is another concern for Boston Properties. Elevated rates imply high borrowing costs for the company, affecting its ability to purchase or develop real estate. The company has a substantial debt burden and its share of debt as of Dec 31, 2023, was $15.9 billion. High interest expenses are anticipated to adversely impact FFO per share in 2024. Management expects consolidated net interest expenses for 2024 between $570 million and $590 million.Analysts seem a bit bearish on this Zacks Rank #3 (Hold) company. The Zacks Consensus Estimate for its 2024 funds from operations (FFO) per share has been lowered marginally over the past week to $7.12.BXP shares have gained 2% in the past year, underperforming the industry’s rise of 6.2%.Story continues Zacks Investment ResearchImage Source: Zacks Investment Research Stocks to ConsiderSome better-ranked stocks from the broader REIT sector are Iron Mountain IRM and SL Green Realty Corp. SLG, each carrying a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.The Zacks Consensus Estimate for IRM’s 2024 funds from operations (FFO) per share is pegged at $4.38, which suggests year-over-year growth of 6.3%.The Zacks Consensus Estimate for SLG’s 2024 FFO per share stands at $5.88, which indicates an increase of 19.03% from the year-ago period’s actual.Note: Anything related to earnings presented in this write-up represents FFO — a widely used metric to gauge the performance of REITs.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 reportIron Mountain Incorporated (IRM) : Free Stock Analysis ReportBoston Properties, Inc. (BXP) : Free Stock Analysis ReportSL Green Realty Corporation (SLG) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

Is it Wise to Retain Boston Properties (BXP) Stock for Now?

https://finance.yahoo.com/news/wise-retain-boston-properties-bxp-171100953.html

045c277e-5a74-3437-b62c-8e50a52e05da

C

In the latest market close, Citigroup (C) reached $55.36, with a -1.02% movement compared to the previous day. This change lagged the S&P 500's daily loss of 0.38%. On the other hand, the Dow registered a loss of 0.16%, and the technology-centric Nasdaq decreased by 0.13%.Heading into today, shares of the U.S. bank had gained 4.21% over the past month, outpacing the Finance sector's gain of 3.85% and lagging the S&P 500's gain of 4.74% in that time.The investment community will be paying close attention to the earnings performance of Citigroup in its upcoming release. The company is forecasted to report an EPS of $1.53, showcasing a 17.74% downward movement from the corresponding quarter of the prior year. Our most recent consensus estimate is calling for quarterly revenue of $20.51 billion, down 4.39% from the year-ago period.In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $5.94 per share and a revenue of $80 billion, indicating changes of -1.66% and +1.96%, respectively, from the former year.Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Citigroup. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. 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.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. Within the past 30 days, our consensus EPS projection has moved 0.18% higher. Currently, Citigroup is carrying a Zacks Rank of #3 (Hold).Story continuesIn terms of valuation, Citigroup is currently trading at a Forward P/E ratio of 9.42. This represents a discount compared to its industry's average Forward P/E of 10.54.We can additionally observe that C currently boasts a PEG ratio of 1.53. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The Banks - Major Regional industry currently had an average PEG ratio of 1.52 as of yesterday's close.The Banks - Major Regional industry is part of the Finance sector. At present, this industry carries a Zacks Industry Rank of 36, placing it within the top 15% of over 250 industries.The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming 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 reportCitigroup Inc. (C) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

Here's Why Citigroup (C) Fell More Than Broader Market

https://finance.yahoo.com/news/heres-why-citigroup-c-fell-224516795.html

691a82a3-9d5a-3cee-b02f-2fd3545a2432

C

Companies are cutting staff and focusing on efficiency amid a commitment to do more with less following a year of widespread layoffs. The layoffs so far this year suggest that companies are cutting in more targeted areas. Here’s a look at some of the companies that have announced layoffs so far this year.Continue reading

The Wall Street Journal

Layoffs in 2024: A List of Companies Cutting Jobs This Year

https://finance.yahoo.com/m/604dffb9-56b6-3a7f-aa11-739677c15b28/layoffs-in-2024-a-list-of.html

604dffb9-56b6-3a7f-aa11-739677c15b28