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US STOCKS-Banks boost Wall Street with G20 in focus (For a live blog on the U.S. stock market, click or type LIVE/ in a news window.) * Trump-Xi meeting at G20 eyed * Banks rise on clearing Fed's final stress test * Apple dips as design chief to leave * Moderate consumer spending, inflation support rate cut * Indexes up: Dow 0.36%, S&P 0.47%, Nasdaq 0.47% (Updates to early afternoon) By Shreyashi Sanyal June 28 (Reuters) - U.S. stocks rose on Friday, as big banks gained after clearing the Federal Reserve's stress test, while investors kept a watch on the G20 summit where a meeting between Presidents Donald Trump and Xi Jinping could lay the groundwork to resolve their trade dispute. Trump said he hoped for productive talks with the Chinese president, but said he had not made any promises about a reprieve from escalating tariffs. The two leaders are scheduled to meet on the sidelines of the G20 summit this weekend in Japan. "What investors expect are good talks, no implementation of tariffs right away and a continuation in negotiations. Which is also the most likely outcome from G20," said Randy Frederick, vice president of trading and derivatives for Charles Schwab in Austin, Texas. "There are still hopes that things won't be worse after the weekend." The uncertainty caused by conflicting reports on a potential trade truce stalled this month's rally, with the S&P 500 index on pace to post its first weekly loss in June. Still, the bellwether index is up nearly 7% for the month, putting it on track to clock its best six-month run since March 2012. Global stocks, meanwhile, recorded their best first-half of the year ever. Lifting Wall Street were gains in financials, up 1.39%, the most among the 11 major S&P sectors, closely followed by a 0.9% rise in trade-sensitive industrials. Banks stocks jumped 2.41% after the Fed on Thursday approved capital plans of 16 banks, including JPMorgan Chase & Co, Bank of America Corp and Citigroup Inc , in its final stress test hurdle. At 12:31 p.m. ET the Dow Jones Industrial Average was up 94.21 points, or 0.36%, at 26,620.79 and the S&P 500 was up 13.78 points, or 0.47%, at 2,938.70. The Nasdaq Composite was up 37.26 points, or 0.47%, at 8,005.02. Apple Inc dipped 0.3% after the iPhone maker said Jony Ive, a close creative collaborator with the company's co-founder Steve Jobs, will leave later this year. Constellation Brands Inc jumped 4.5% after the Corona beer maker reported quarterly results above analysts' estimates. Giving the Fed more ammunition to cut interest rates next month was data that showed consumer spending increased moderately in May and prices rose slightly, pointing to slowing economic growth and benign inflation pressures. Advancing issues outnumbered decliners by a 3.10-to-1 ratio on the NYSE and by a 2.81-to-1 ratio on the Nasdaq. The S&P index recorded nine new 52-week highs and no new low, while the Nasdaq recorded 59 new highs and 30 new lows. (Reporting by Shreyashi Sanyal and Amy Caren Daniel in Bengaluru; Editing by Sriraj Kalluvila and Anil D'Silva)
Having Trouble Finding Good Setups? Try Looking For This Pattern As I write this, I’m in the process of packing up for a week’s vacation in Italy. That packing, of course, includes my mobile trading station. I’m hoping to lose some of the weakness we’ve experienced in the market recently somewhere over the Atlantic. In any case, it will be nice to have my mornings free since 9:30 am EDT is 3:30 pm in the Mediterranean. And don’t worry, you can still catch my daily updates live on the Warrior TradingFacebookandYoutubepages. While I’m on vacation, I thought I’d spend this time reviewing a fairly common trading setup that every trader should be able to recognize as a strong bull flag. That’s the ABCD pattern, and it can be an invaluable tool when other momentum indicators fail. An ABCD chart formation gets its name from the distinct line it traces, whose peaks and valleys constitute the A, B, C and D points. You can see an example of the pattern in this chart forEltek Ltd.(NASDAQ:ELTK) from June 13 below. The beautiful thing about the ABCD pattern is how easily recognizable it is. The first leg of the setup, the A, B line, is a period of selling that often comes following an intraday high. The B, C leg of the chart is shorter and represents a bounce from the selling pressure. Finally, the C, D line is the last and longest setup cue before the chart pivots back upward. The key components of this setup are the top and bottom of each leg and the duration of each line. The points should match the staggered positions in the chart above and each line should also follow the medium, short, long pattern evident in ELTK. The pivot after the D point obviously represents the best entry to capitalize on the move. However, even though this pattern is generally a reliable bull signal, there are no guarantees the chart will follow through with the same force as you see above, so setting a target price based on prior support and resistance levels and effectively scaling out of the trade remain essential to manage your risk. Nevertheless, the ABCD pattern is a great tool to keep in your back pocket, especially in stocks that have other strong characteristics like a good size float or a history of running. Warrior Trading is a content partner of Benzinga See more from Benzinga • Advice For New Traders When Momentum Dries Up • Why Consistent Trading Doesn't Always Lead To Consistent Results • 3 Foolproof Strategies To Minimize Risk © 2019 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
From Tea To THC: The Heady Rise Of Growpacker's Stephen Boyd With the use of automation and data analytics in production, the Los Angeles-based co-packing and bottling company Growpacker designs and manufacturs cannabis-infused products. More than 300 brands have entered Growpacker’s pipeline in less than two years. As Growpacker plans to go public, CEO Stephen Boyd spoke with Benzinga about the company he founded in 2017. “We previously owned a tea company producing and marketing beverage products while working with other co-packers. I started thinking that 90% of products are co-packed somewhere, so why would the cannabis industry be any different?” he said. “So, we took the proceeds and experience from the tea company and put them toward Growpacker.” This transition to a new family of plants did not deter Boyd, who said he utilized the lessons he learned from marketing black tea with green tea. “Realistically, it comes down to learning how to reverse-engineer the MSRP of a product and what margins, distribution and retail might look like." With tea, Boyd said he had to come with formulations for the cost of ingredients, which came in varying measurements. This was followed by pricing strategies and matters such as distribution and getting products placed on shelves, he said. "Going from a brand company to being a co-packer taught us how to move into one of the largest emerging markets of our time.” Need more cannabis news?Check out all of our coveragehere. 'The Infrastructure Behind The Industry' The Growpacker facility can package any cannabis product, ranging from tea, coffee and kombucha to alcohol-free beers and wines, Boyd said. "We have full commercial kitchens and do everything under the one roof, whether it’s creams, vape oils [or] flower packaging, plus distribution,” he said. One of the largest formulation companies in existence does THC and CBD research at Growpacker's facility, giving Boyd's company access to aromas, enhancers and flavors and allowing for rapid prototyping, he said. Growpacker's business model focuses on dynamic creation rather than raw production. The company manages the more than 300 brands in its pipeline using automation and processing software, and it feeds data analytics to its customers, Boyd said. "We know about all the new dispensaries and create a relationship with them. We can track what products they’re selling and who is selling the most. Our portal enables our customers to see where their sales are happening and the ROI on their products.” Stephen Boyd. Courtesy photo. Growpacker is an "agnostic" manufacturer and distributor, the CEO said: it doesn't have a brand of its own that would compete with its customers. "Instead, we’re a platform that enables brands to come to market extremely fast and make rapid iterations in the product evolution cycle. We’re the infrastructure behind the industry.” Planning Underway For RTO With banking laws blocking cannabis companies from accessing capital, expansion within the industry can be a minefield of challenges. “Banks backed by the FDIC won’t allow cannabis companies," Boyd said. Another challenge: individuals who have experience with cannabis, but not packaged goods — and vice versa. This led to Growpacker developing its own infusion technology and partnering with a large supply chain, the CEO said. “We’ve had to connect supply and demand on 30 different fronts. The hardest thing in our business is to connect the dots from concept to market.” Growpacker will "definitely" expand from California to the midwest, "whether it's Michigan or Illinois," Boyd said. "Everything we’ve designed so far can be replicated in other states and caters well toward expansion.” After cannabis became legal in California, the building of a regulatory framework took time, and Boyd said he expects a similar scenario in other states that are legalizing marijuana. "Even in the second year, we’re seeing a lot of churn in the industry. It’s going to take two to three years for the state to shake out." California has legislated the merger of medical and adult recreational use, and Growpacker expects this to occur nationwide, Boyd said. While details are undisclosed, Growpacker has been preparing to scale its operations for almost a year. “What I can say is that we’ve raised significant funding from a group of investors in the financing and capital realm. We plan to go public around September and will be going it alone with an RTO [reverse takeover]," the CEO said. The company's eventual goal is to list on the Nasdaq when cannabis is federally legal, he said. Need more cannabis news?Check out all of our coveragehere. See more from Benzinga • Discussing MPX International's South Africa Joint Venture With CEO Scott Boyes • The Secret Sauce Behind The Best Performing Cannabis ETF In Canada © 2019 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Women's soccer stars ask bosses to let fans take day off to watch quarterfinal game The U.S. Women’s Soccer team wants all their fans to watch what is sure to be an “epic” Women’s World Cup quarterfinal game— the only problem is the match is set to take place when many Americans will be hard at work. So, USWNT stars Kelley O’Hara and Allie Long took it upon themselves to pen a handwritten note to employers across the county to allow their fans to take the day off so they can “bust out all their USA gear and mentally prep” for the team’s big game. what @kelleymohara & @ALLIE_LONG promise, they deliver. pic.twitter.com/YH2B8Bk3Yr — U.S. Soccer WNT (@USWNT) June 27, 2019 The U.S. Women’s Soccer team posted the letter and a video of the pair writing a draft of the note on Twitter early June 27 ahead of the quarterfinal game on Friday, June 28. “So, I think we need to write a note to get people out of work,” O’Hara suggests in the video. Long agrees, “100 percent,” but wonders if American employers will listen to them. To that, O’Hara simply replies, “They have to... We’re in a world cup.” O’Hara begins drafting the letter in a notebook, addressing the letter to “bosses and supervisors.” “In case you’re living under a rock...This Friday, June 28th is our World Cup quarterfinal vs. France and it's gonna be a BIG ONE!” the players wrote in a note tweeted from the U.S. Women’s Soccer account. The players went on to write, “We kindly ask that you give every employee the day so that they can eat a hearty lunch, get emotionally ready, bust out all their USA gear, and mentally prep for what will be an EPIC GAME!” Defender O’Hara and midfielder Long ended the note by assuring American employers that USWNT fans would be back to work on Monday—“maybe,” the pair joke, sending “all our love.” Story continues Quarterfinal game on Friday at 3pm ET. When so many will be at work. what to do… 🤔 we have something to help with that. pic.twitter.com/DOrYTXyc0m — U.S. Soccer WNT (@USWNT) June 27, 2019 The U.S team reached the quarterfinal after defeating Spain 2-1 on Monday in penalty kicks. France also advanced with a 2-1 win against Brazil in extra time Sunday night. The team hopes to garner as much support for their match against France in the Women’s World Cup quarterfinals at 3 p.m. ET so they can advance to the semifinals. Many Americans are hopeful that the women’s soccer team will take home gold...Again. Despite their wild successes on the field, the female world champions are still fighting to get the same pay as the U.S. men’s soccer team, who have not advanced as far as the women’s team and have generated less revenue from their games than the women, the Wall Street Journal reports. Before the World Cup, the U.S. Women’s Team filed a gender discrimination lawsuit against the U.S. Soccer Federation alleging unfair pay on International Women’s Day this year. “Each of us is extremely proud to wear the United States jersey, and we also take seriously the responsibility that comes with that,” forward Alex Morgan said in a statement obtained by ESPNW . “We believe that fighting for gender equality in sports is a part of that responsibility. As players, we deserved to be paid equally for our work, regardless of our gender.” Read more from Yahoo Lifestyle: • U.S. Women's Soccer Team files gender discrimination lawsuit alleging unfair pay: 'We believe it is our duty' • More boys proudly wearing US women’s soccer jerseys • Megan Rapinoe stands by White House snub, encourages U.S. teammates to follow suit Follow us on Instagram , Facebook , and Twitter for nonstop inspiration delivered fresh to your feed, every day.
Valve Index review: Next-level VR Where does virtual reality go next? Right now there seem to be two paths: portable and self-contained headsets like theOculus Questor those connected to computers and consoles like theRiftandPlayStation VR. Valve is clearly betting on the second way with theIndex, its first VRhardware. It crams in just about every feature you'd expect from a high-end headset, including some truly transformative finger-sensing controllers. It's too bad the entire Index package costs$999, putting it out of reach for most people. But maybe that's the point. It's a boundary-pushing headset meant to keep the VR industry from getting stale. But before we get to the Index itself, we have to talk about the controllers. Valve has been testing them for years under the code name "Knuckles," which refers to their key feature: finger tracking. They don't look anything like the Oculus Rift or HTC Vive's motion gamepads: Instead of holding them, you have to slide your fingers under a microfiber strap, which secures the controller to your hand. They rely on 87 sensors to track your finger movements, which opens the door for new types of VR interactions. Games can tell if you're holding your thumbs up or if you're waving to another character. The mere act of grabbing and holding things in VR feels more real with the Index controllers, since you're actually gripping them with your hands. There's also pressure sensitivity, which lets games detect when you're squeezing extra hard. And better haptics support also gives you the sensation of touching and holding objects. None of that was possible with earlier VR gamepads, since they just have a single grip button for opening and closing your hands. As you can imagine, having true finger tracking goes a long way toward improving VR presence -- the sense of being transported to a virtual world when you're wearing a headset. Beyond finger sensing, the Index controllers have an analog stick, two face buttons, a trackpad and of course, a trigger button. They're backwards compatible with every game that works with the Vive's controllers, but it's up to developers to build in finger-tracking support. So far, that only includes around 40 games likeSpace Pirate Trainer,Arizona SunshineandSuperhot, but hopefully more will follow as devs get their hands on the new controllers. And even though they're debuting with the Index, the gamepads are also compatible with the Vive and Vive Pro. You'll just have to shell out $279 to grab them separately. As for the Index headset itself, it doesn't look much different than the Rift or Vive. But there are some notable upgrades once you dig a bit deeper. There's a huge emphasis on comfort here: The head strap is easy to put on, and you can secure it by turning a dial. There's no awkward velcro to fight with, like you'd find on the Rift and Vive. A generous amount of plush cushioning covered in breathable microfiber cloth surrounds the eyepiece and rear head strap. There's also a dial to adjust the distance of the lenses to your eyes, which is particularly helpful if you're wearing glasses. And instead of headphones, the Index has two near-field speakers, which produce high-quality sound without even touching your ears. Valve claims it wanted to make a headset that you could wear for hours without feeling fatigued, and it seems like it succeeded. The Index feels well balanced on my head, with none of the front heaviness that annoyed me on the wireless Oculus Quest. As you'd expect, there's a ton of high-end tech inside the Index. It features two RGB LCDs each running at 1,440 by 1,600 pixels instead of the lower-resolution OLED panels on first-gen headsets. Valve says its LCDs feature 50 percent more subpixels, which means they'll look even sharper than an OLED panel at the same resolution. The new displays can also run at 120Hz or 144Hz, a huge leap beyond the 90Hz refresh rate we've seen on most headsets. A higher refresh rate means your VR experience will look smoother -- assuming your computer can actually reach the higher frame rates required. The Oculus Rift S, the company's most recent half-hearted stab at a PC headset, actually scaled down its refresh rate to 80Hz from the original Rift's 90Hz. While Oculus is more focused on making its tech cheaper and easier to consume, Valve is taking the exact opposite approach. The Index also offers far better image persistence than first-gen headsets: Everything you see will still look sharp when you're moving your head around (something you're always doing in VR). Most noticeably, Valve bumped the Index's field of view to 130 degrees, 20 degrees more than other consumer headsets. That means even more of the virtual world will envelope you. You won't get any of the periscope effect you find on cheaper headsets, which makes it seem like you're peeking through a tiny window. Up front, the Index has two cameras and a notch with a USB 3.0 port hidden underneath the faceplate. Valve calls this the frunk, an accessory slot that developers can use however they see fit. Reality Instruments is already using it to add LED displays in front of the Index. For all of its whiz-bang new features, the Index is still a wired PC headset that relies on external sensors. That means it has many of the downsides of the Vive: Setup is a chore, since you need to find a high location for the two base stations, and you have to plug the headset into DisplayPort, USB 3 and power. Thankfully, Valve made the cable detachable, so you can remove the Index headset while leaving the plugs connected to your computer. Once everything is connected, you also have to draw a boundary around your play space for room-scale gaming. But if you're low on space, you can still use it in seated and standing mode, though that will keep you from playing some titles that are room-scale only. Since the Index is a SteamVR headset, the entire setup process is the same as the Vive's. The only difference is that I manually had to enable the 120Hz refresh rate in its settings. So how well does the Index actually work? I've tested every major VR headset, including most of the flagship Windows Mixed Reality offerings, and the Index stands apart. Valve has crafted a headset that's comfortable while also delivering the most immersive virtual reality experience I've ever seen. That's partially due to all the tech crammed into the headset, but the new controllers play an even bigger role. Running through the hilariousAperture Hand Labdemo instantly sold me on finger tracking: It starts with some simple gestures like waving at a smart-alecky robot but quickly escalated into a game of rock, paper, scissors and an awkward handshake competition. Throughout the experience, I wasn't focused on pressing any buttons; it all centered on how my hands and fingers were interacting with virtual space. The addition of finger tracking also madeSuperhot, my favorite VR title, even better. Now grabbing guns out of the enemy's hands and taking aim for a headshot feels far more visceral. I'm shocked how much finger tracking alone makes a game I know well seem completely new. Imagine what developers could accomplish when they plan for finger tracking from the beginning. BothSpace Pirate TrainerandBeat Saberalso show off how well the Index handles motion tracking. It never lost sight of my controllers as I was shooting space baddies and hitting best boxes, something I often had trouble with on the Vive and Vive Pro. Chalk that up to vastly improved lighthouse sensors. The visual upgrades in the Index also make mainstay VR experiences like Google Earth feel much more immersive. I honestly felt a bit of vertigo as I rotated the globe beneath me and flew above Rio de Janeiro. Hopping into 360-degree Street View felt almost like I was teleporting around the globe. The Index's faster refresh rate also made fast-paced games likeSpace Pirate Trainerfeel much more realistic. I dabbled with the 144Hz refresh rate, but it felt less stable than the 120Hz option and didn't look noticeably better. Even though it's the cream of the crop for high-end VR, there's still some room for improvement with the Index. For one, I'd love to see a wireless accessory. That was a huge upgrade for the Vive, especially when it came to VR immersion. Of course, I'd expect that to be even tougher with the Index's high-resolution screens. I also hope Valve moves toward built-in sensors eventually. Every recent VR headset has baked in sensors: They simplify setup and make it far easier to move your headset to another location. External lighthouses inevitably trap you in a single space. Now for the big question: Who should actually buy the Index? Clearly, it's not meant for everyone. At $1,000, it's not even vaguely affordable, especially when other headsets like the Rift S and Windows Mixed Reality entries are going for $400 or less. (Vive Pro owners can also nab the headset and controllers for $749 and use their existing base stations.) The Index is an expensive and aspirational piece of gear meant for professionals and geeks who need the best. For regular folks, it's something to seek out the next time you're at a VR arcade. The Index's controllers alone are groundbreaking, and hopefully they'll pave the way for more finger-tracking competition. At the least, Valve is reminding us that there's still a place for high-end VR. The Oculus Quest might be cheaper and more convenient, but it'll always be limited by its mobile hardware. With the Index, the VR possibilities seem endless.
5 Cyclical ETFs & Stocks Top in June Brushing aside the fears of global growth slowdown and still-unresolved US-China trade dispute, stocks soared in June buoyed by big bets on a Fed rate cut this year. The S&P 500, the Dow Jones Industrial Average and the Nasdaq Composite have gained about 4.4%, 4.7%, and 4.7%, respectively, in the past month (as of Jun 27). Amid such equity market ascent, a wealth effect is normally realized. As per Investopedia,“the wealth effect helps to power economies during bull markets. Big gains in people's portfolios can make them feel more secure about their wealth and their spending.” Moreover, a dovish Fed means more months of cheap money inflows, which is expected to bolster consumer and business confidence and spending, which in turn translates into broad-based economic growth. Dovish Fed comments brought down bond yields materially in June. Yield on benchmark 10-year U.S. Treasury yield stood at 2.01% on Jun 27, down from 2.66% recorded at the start of the year. Of late, parts of yield curve inverted amid recessionary fears. Investors should note that the Fed’s accommodative stance is beneficial to the overall stock market. However, the bump was more visible for cyclical stocks in June, per an article published on MarketWatch. Source: MarketWatch Cyclical stocks normally perfrom well in a growing economy. So, it seems that the underlying economic condition is not as grave as the yield curve protrays. In its June meeting, the Fed upgraded its forecast for 2020 real GDP growth from 1.9% in March to 2.0% but maintained the 2019 and 2021 growth forecast at 2.1% and 1.8%, respectively. Unemployment was guided down to 3.6% from 3.7% for 2019, 3.7% from 3.8% for 2020 and 3.8% from 3.9% for 2021 (read: ETF Winners & Losers Post Fed Meet). Willie Delwiche, investment strategist at R.W. Baird, noted that investors’ interest in cyclical sectors indicate there is no “imminent threat to the economic cycle.” Against this backdrop, below we highlight a few cyclical sector ETF winners and some winning stocks from those sectors. Materials iShares MSCI Global Gold Miners ETF (RING)– Up 24.9% The underlying MSCI ACWI Select Gold Miners Investable Market Index measures the equity performance of comps in both developed & emerging markets that derive the majority of their revenues from gold mining. The fund charges 39 bps in fees (read: Gold Mining ETFs & Stocks That Crushed the Market in May). AngloGold Ashanti LimitedAU – Up 49.2% It is the largest gold producer at 7 million ounces a year, with reserves of 126 m oz. The stock sports a Zacks Rank #1 (Strong Buy) (read: Iran Downs U.S. Drone: Sector ETFs & Stocks to Gain). Energy First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund (GRID)– Up 9.8% The underlying NASDAQ OMX Clean Edge Smart Grid Infrastructure Index includes companies that are primarily engaged and involved in electric grid, electric meters and devices, networks, energy storage and management, and enabling software utilized by the smart grid infrastructure sector. The fund charges 70 bps in fees. Real Goods Solar Inc. (RGSE)– Up 50.8% The Zacks Rank #3 (Hold) company is a leading residential solar energy integrator. The stock comes from a top-ranked Zacks industry (top 28%). Information Technology SPDR S&P Semiconductor ETF (XSD)– Up 12.6% The underlying S&P Semiconductor Select Industry Index represents the Semiconductor sub-industry portion of the S&P Total Markets Index. The Semiconductor Index is a modified equal weight index. The fund charges 35 bps in fees. Vuzix Corporation (VUZI)– Up 72% The Zacks Rank #3 (Hold) company is a supplier of Smart-Glasses and Augmented Reality (AR) technologies and products for the consumer and enterprise markets. Consumer Discretionary Amplify Online Retail ETF (IBUY)– Up 6.6% The underlying EQM Online Retail Index utilizes a rules-based methodology to select a globally diverse group of companies with 70% or more of revenues from online and virtual sales. The fund charges 65 bps in fees (read: ETFs in Focus on Impressive Rise in May Retail Sales). Bluegreen Vacations Corporation (BXG)– Up 40.9% The Zacks Rank #3 (Hold) company markets, sells and manages timeshare resorts, urban destinations, clubs and residential lands. It has a VGM Score of B. Industrials First Trust RBA American Industrial Renaissance ETF (AIRR)– Up 7.4% The underlying Richard Bernstein Advisors American Industrial Renaissance Index is measures the performance of small and mid-cap US companies in the industrial and community banking sectors. The fund charges 70 bps in fees. The Manitowoc Company Inc.MTW – Up 7.4% The Zacks Rank #2 (Buy) company is a leading manufacturer of cranes that serve the infrastructure, residential & commercial construction, petrochemical, industrial, power/utility and military end markets. The stock belongs to a top-ranked Zacks industry (top 7%). Want key ETF info delivered straight to your inbox? Zacks’ free Fund Newsletter will brief you on top news and analysis, as well as top-performing ETFs, each week.Get it free >> 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 reportVuzix Corporation (VUZI) : Free Stock Analysis ReportFirst Trust RBA American Industrial Renaissance ETF (AIRR): ETF Research ReportsAmplify Online Retail ETF (IBUY): ETF Research ReportsiShares MSCI Global Gold Miners ETF (RING): ETF Research ReportsSPDR S&P Semiconductor ETF (XSD): ETF Research ReportsThe Manitowoc Company, Inc. (MTW) : Free Stock Analysis ReportAngloGold Ashanti Limited (AU) : Free Stock Analysis ReportBluegreen Vacations Corporation (BXG) : Free Stock Analysis ReportReal Goods Solar, Inc. (RGSE) : Free Stock Analysis ReportFirst Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund (GRID): ETF Research ReportsTo read this article on Zacks.com click here.Zacks Investment ResearchWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
U.S. senator says he's blocking USDA nominees over biofuel waivers (Reuters) - Senator John Kennedy of oil refining state Louisiana is blocking the confirmation of three senior appointees to the Department of Agriculture until the department butts out of parts of the administration’s biofuels policy, according to a letter he sent this week to Agriculture Secretary Sonny Perdue. The move underscores the rising sensitivity of U.S. biofuel regulations requiring ethanol in gasoline, which have split the rival oil and corn industries and torn President Donald Trump between two key constituencies in his reelection campaign. Kennedy told Perdue in the letter dated June 27 that he was attempting to block the confirmation of three appointees now pending the Senate until USDA “ceases to be involved in all issues involving small refinery hardship waivers” under the U.S. Renewable Fuel Standard. The RFS requires refiners to blend billions of gallons a year of ethanol to help farmers and cut dependence on foreign petroleum imports, but allows small refineries in financial distress to secure waivers to avoid the often costly obligation. Since Trump took office, the Environmental Protection Agency – which administers the RFS - has more than tripled the number of waivers granted, including to small facilities owned by companies like Exxon Mobil and Chevron, as well as billionaire investor Carl Icahn. This has pleased oil interests but enraged the corn industry, which argues the expansion marks an abuse of the regulation and threatens demand for ethanol. Perdue has often sided publicly with farmers on the issue, and told farmers at an event in Iowa this month that he had spoken to Trump about it and was helping to devise a fix. "We're going to see what we can do about that," he said. Kennedy said in his letter he believes the administration's handling of the small refinery waiver program has helped support tens of thousands of jobs across the country. “I am deeply troubled by reports that you, in your role as Secretary of Agriculture, are attempting to influence the decisions on small refinery waivers at the EPA,” he wrote. The appointees pending Senate confirmation include Scott Hutchins as Undersecretary for Research, Education, and Economics; Mindy Brashears as Undersecretary for Food Safety, and Naomi Earp as Assistant Secretary. "Please be advised that I will end my efforts to block these nominees when the USDA ceases to be involved in all issues involving small refinery hardship waivers, including the SRE application process," he wrote. (Reporting by Chris Prentice; writing by Richard Valdmanis; Editing by Susan Thomas)
EUR/USD Price Forecast – Euro rallies again on Friday The Euro continuesto show signs of strength, breaking above the highs of the previous session as we use the 200 day EMA as support. Beyond that, the 1.1350 level underneath is support as well, and therefore it’s crucial to keep above there going into the weekend. I find it very interesting that we are in fact doing this, as the G 20 is going to cause fireworks over the weekend, more specifically the conversations between the Americans and the Chinese. It looks as if the market is focusing more on the Federal Reserve at this point, and the fact that we have broken above the 200 day EMA is a very bullish sign. Ultimately, it’s very unlikely that the market is going to break down due to the fact that the Federal Reserve is looking to cut rates, and of course the Federal Reserve eventually gets what it wants. There is the old expression “don’t fight the Fed.” I think that is going to continue to be the case, and therefore it’s very likely that the US dollar eventually falls against most currencies. That doesn’t mean it has to happen today, this is more of a longer-term call. If we were to break down below the 1.1350 level, then I think we will find support underneath, perhaps near the red 50 day EMA. I also recognize that the 1.1450 level above is significant resistance extending to the 1.15 handle, so it’s very difficult to break out right away but I do think that’s where were going later this summer. Short-term pullbacks should be buying opportunities though, and I think that continues to be the way forward here. Please let us know what you think in the comments below Thisarticlewas originally posted on FX Empire • EUR/USD Forex Technical Analysis – Trade Through 1.1344 Confirms Closing Price Reversal Top • USD/JPY Forex Technical Analysis – Rise in Treasury Yields Could Launch Rally into 108.726 to 109.186 • NZD/USD Forex Technical Analysis – Testing Major Retracement Zone at .6710 to .6764 • E-mini S&P 500 Index (ES) Futures Technical Analysis – Early Gap Still Intact but Buying Has Slowed • Brent Crude Oil Price Update – Could Breakout Over 200-Day Moving Average at $67.12 • Price of Gold Fundamental Weekly Forecast – Will Renewed Trade Talks Dampen Any Need for July Rate Cut?
GBP/JPY Price Forecast – British pound rallies on Friday The British pound initially fellduring the trading session on Friday but turned around to bounce towards the ¥137 level. There is a lot of resistance above though, as you can see by the shooting star that formed during the previous session. Ultimately I think this market is simply trying to figure out where to go next as we have a lot of global risk out there, and of course the Brexit which seems to never end. At this point, it’s very likely that the market is going to grind around, and I do recognize that the recent low that is just above the ¥135 level is going to be crucial. The overall trend of course is down but we have fallen so hard one would have to think that the occasional rally has to happen. I still look to sell this pair though, unless of course we get a major “risk on” move around the world. That could be in the form of a good result of the US/China talks this weekend, but I would not hold my breath for that to happen. I suspect that if the US/China talks influence this pair, it is probably going to be more negative than anything else. If we were to break down below the ¥135 level, that could open the trap door here. That being said if we rally, I think the ¥138 level will offer resistance, and signs of exhaustion can give you an opportunity to sell again. If we were to break above the ¥138 level on a daily close, I think the next target would be ¥140. Please let us know what you think in the comments below Thisarticlewas originally posted on FX Empire • NZD/USD Forex Technical Analysis – Testing Major Retracement Zone at .6710 to .6764 • The Crypto Daily – The Movers and Shakers 01/07/19 • E-mini NASDAQ-100 Index (NQ) Futures Technical Analysis – ‘Gap and Go’ Opening Stalls at 7824.50 • E-mini S&P 500 Index (ES) Futures Technical Analysis – Early Gap Still Intact but Buying Has Slowed • U.S. Dollar Index Futures (DX) Technical Analysis – Counter-Trend Buyers Need to Overcome 95.920 to Shift Momentum to Upside • E-mini Dow Jones Industrial Average (YM) Futures Technical Analysis – Holding 26684 Puts Market in Position to Challenge All-Time High
Coinbase Releases Key Findings on Crypto Awareness and Adoption in US Major American cryptocurrency exchangeCoinbasereleased key findings about awareness and adoption trends related to digital currency in theUnited Statesin a blog postpublishedon June 28. Coinbase’s survey that spans the past year and 2,000 participants revealed that cryptocurrency awareness in the U.S. has continued growing, with 58% of Americans having heard about bitcoin (BTC). Of them, some expressed a desire to diversify their investment portfolios with digital currencies, were excited by crypto’s idea of a worldwide currency, or liked the absence of high transfer fees. The top 10 states with the highest crypto ownership are California, New Jersey, Washington, New York, Colorado, Utah, Florida, Alaska, Nevada, and Massachusetts. States such as Delaware, Nevada, and Wyoming have a lower overall percentage of crypto owners, but a higher per-capita ownership, meaning a smaller number of people hold a larger than average amount of crypto each. When asked about what drove them to purchase cryptocurrency, respondents recalled the investment opportunity presented by crypto, interest in new technology, and ability to educate themselves about it among the major reasons. One 30-year-old respondent said that “for people in my generation, I think it makes a lot more sense than stocks, bonds, inflated real estate, or other depreciating assets.” As cryptocurrency adoption grows, regulators and policymakers worldwide have enacted legislation to address cryptocurrency and its underlyingblockchaintechnology. Thus, as of June 2019, over 70% of U.S. states have reportedly enacted regulations pertaining to crypto or blockchain. This year,YouTubesearches for bitcoin reportedly reached their all-time high. “Americans typed ‘Bitcoin’ intoGooglemore times last year than they searched for a range of headline-making phrases, from ‘royal wedding’ to ‘election results,’” the report states. In late April, a survey published by Spencer Bogart of venture capital firm Blockchain Capitalrevealedthat the vast majority of American citizens had heard of bitcoin, regardless of age. The proportion of people who heard of bitcoin increased from 77% in October 2017 to 89% in April 2019. • Winklevoss’ Gemini Exchange Launches Chicago Office to Serve as Engineering Hub • Bitcoin Falls by $1,400 After Crash of Major Crypto Exchange Coinbase • Overstock’s tZero Launches Mobile Crypto App Touted as Hack-Resistant • Huobi Expands to Turkey Where 20% of the Population Hold Crypto
You’ve Got to See What Edward Snowden Just Said About Bitcoin After saying last year that Bitcoin itself probablywouldn’t exist in the long run,Edward Snowden appeared at the Bitcoin 2019 conference to discuss the ways that Bitcoin helps people in a world of increased surveillance. Snowden admitted that he had used the dominant cryptocurrency to pay for servers he then used to leak data years back, speaking via video call. The lengthy talk touched a range of topics, includingBitcoin’s association with criminals. Snowden pointed out that more criminals use the dollar. Edward Snowdenis most famous for leaking government secrets while working as a government contractor for the NSA. He turned over thousands of documents about government torture and data collection programs to journalists including Glenn Greenwald. The hacker then executed a perfect getaway and currently remains in hiding in Russia. During his talk, he spoke of the way that Bitcoin gives people power that governments have taken away. You can’t freely send money around the world, he pointed out, but cryptocurrency brings that back. Read the full story on CCN.com.
Analyst Calls Overstock's Crypto Wallet App A 'Significant Milestone' Overstock.com, Inc. (NASDAQ:OSTK) is launching a mobile wallet app for buying and using cryptocurrency, leading investors to spend traditional money snapping up the stock Friday morning. The Analyst DA Davidson’sTom Fortereiterated a Buy rating on Overstock with a $48 price target. The Thesis The crypto mobile wallet app, called tZERO, for now will run onApple Inc.(NASDAQ:AAPL)’s iOS mobile platform, but the company said it will offer an Android version soon. It will allow customers to buy, hold and sell different cryptocurrencies, starting with bitcoin and Ethereum. “We consider the launch of tZERO's crypto mobile wallet as a significant milestone for the company and recommend investor purchase shares on the announcement,” Forte wrote in a note. A key feature of the new mobile wallet is one intended to let consumers recover a private key for their cryptocurrency. The issue of the security keys –and the prospect of losing access to bought crypto currency if a consumer loses their key– has been “a structural challenge for crypto currencies,” Forte said. Forte said things were already looking good forOverstock, whose CEO recently said the company's better-known legacy retail business is on track for $20 million of adjusted EBITDA in 2019, up from $15 million. Overstock is in the process of looking for a buyer for its legacy home e-commerce business, and said recently it has some interest. Price Action Overstock shares traded higher by 2.3% at $13.32 Friday afternoon. Related Links: Betting On Bitcoin? A Look At Some Large Overstock Option Trades Overstock CEO Says Company's Retail Business Has Multiple Suitors Latest Ratings for OSTK [{"Sep 2018": "Mar 2018", "": "Buy", "Assumes": "Maintains", "Buy": "Buy"}, {"Sep 2018": "Nov 2017", "": "", "Assumes": "Maintains", "Buy": "Buy"}] View More Analyst Ratings for OSTKView the Latest Analyst Ratings See more from Benzinga • Canaccord Genuity Bullish On Zynerba Ahead Of CBD Gel Trial Data • Twitter Won't Block Rule-Breaking Tweets From Public Figures, But Will Warn You • Analyst: Boeing 737 MAX Still On Path To Take Flight Again In 6-9 Months © 2019 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
AUD/USD Weekly Price Forecast – Australian dollar has strong week The Australian dollarhas rallied rather significantly during the week, reaching towards the 0.70 level before stopping hard on Friday. This makes sense, because we are trying to get to the G 20 where the Americans and the Chinese are going to start talking. That of course is a scenario that could really kick off a lot of fireworks around the world. After all, everybody is essentially paying attention to the trade war, and then trade war of course has a major influence on the Australian dollar as Australia is such a major producer of hard commodities for the Chinese economy. If we can break above the 0.7060 level, then it’s likely that the market will continue to go much higher. At that point, we would be looking at the 0.7250 level. Ultimately, that could be helped by the Federal Reserve as well, as they are looking to cut interest rates. That generally is good for risk appetite based markets such as the Australian dollar, so there is a little bit of a lift underneath. However, if the trade negotiation takes a turn for the worse, that will punish the Aussie due to its high correlation to the Chinese economy. Ultimately, this is a market that will continue to be choppy and difficult but Monday could be interesting at the open. If we gap higher, and above the 0.7060 level, then we may have just put in the bottom. However, if we break down and gap lower, I would anticipate a return to the bottom of the recent consolidation zone. Please let us know what you think in the comments below Thisarticlewas originally posted on FX Empire • Brent Crude Oil Price Update – Could Breakout Over 200-Day Moving Average at $67.12 • While the Leadership Race Heats Up, Can Either Deliver on Brexit? • E-mini S&P 500 Index (ES) Futures Technical Analysis – Early Gap Still Intact but Buying Has Slowed • Gold Price Futures (GC) Technical Analysis – Price Action Being Controlled by Treasury Yields • Monero Technical Analysis – Resistance Levels in Play – 01/07/19 • NZD/USD Forex Technical Analysis – Testing Major Retracement Zone at .6710 to .6764
Old cars everywhere: Average vehicle age hits all-time high Still driving a beater? You've got company. The average age of vehicles on the road in America has reached an all-time high. The typical vehicle on the road today is now 11.8 years old, having increased an average of 4% over the last five years, according to research firm IHS Markit. The number of vehicles on the road has also hit an all-time high: more than 278 million. The primary reason driving these trends: Quality improvements have enabled Americans to keep their cars for longer periods. Quite simply, it takes a lot longer for a car to become a beater these days. “The quality is higher, lasting longer, withstanding the weather,” said IHS Markit Director of Global Automotive Aftermarket Mark Seng. Another factor: Loans often stretch for six or even seven years, giving owners an incentive to keep their vehicles for longer. Vehicles in the West are the oldest at an average of 12.4 years, while vehicles in the Northeast are the youngest at 10.9 years, according to IHS. Super Duty goes off road:Ford F-series Super Duty pickup truck gets Tremor Off-Road package $100,000 pickup?:Chevy might break the six-figure mark with a new Silverado Expect the average of vehicles to keep getting older, in part because older vehicles are holding up so well. IHS projected that the number of vehicles that are at least 16 years old will increase by 22% from 2018 to 2023, reaching 84 million. That would mark an increase from 35 million in 2002. Contributing: Associated Press Follow USA TODAY reporter Nathan Bomey on Twitter @NathanBomey. This article originally appeared on USA TODAY:Old cars everywhere: Average vehicle age hits all-time high
U.S. Senators Aim To Keep Train Crew Debate Alive Some members of Congress remain determined to address the question of whether having more crew members on a train makes that train safer. SenatorsEd Markey(D-Massachusetts) andRon Wyden(D-Oregon) this week introduced a bill aimed at requiring minimum train crew size. The bill "Safe Freight Act," mandates that every freight train have a certified conductor and engineer on board. The senators said the bill, which is a Senate complement to Representative Don Young's (R-Alaska) bill in the U.S. House of Representatives, is in response to the Federal Railroad Administration's recent decision to discontinue the mandate of two-member train crews from the federal rulemaking process. "The FRA abdicated its responsibility as our nation's rail safety agency when it withdrew the proposed two-person crew rule," Markey said on June 26. The introduction of the bill garnered praise from two railroad unions, the Brotherhood of Locomotive Engineers and Trainmen (BLET) and the SMART Transportation Division. "Two-person crews make for safer, more efficient train operations, and two-person crews play a key role in safeguarding our nation's communities when a serious accident occurs," BLET president Dennis R. Pierce said. The FRA said in May that its decision to withdraw the train crew mandate from the proposed rulemaking process also preempted state actions to mandate train crews of more than one member, including laws in Colorado and Nevada, and bills before state legislatures, such as House Bill 186, which Ohio lawmakers introduced in April. That bill proposed to levy penalties of up to $10,000 to freight railroads for repeated violations spanning several years if they didn't comply with Ohio's train crew mandate. The Association of American Railroads has said that the federal government shouldn't mandate the crew size of a train, arguing that this issue is one best hammered out between the railroads and the unions. But as automation makes its way into safety and operational applications for the railroads, one lingering question is how rail workers can fit into this new landscape. Running longer trains has also led some Congressional leaders to question what crew size would serve that train best. Image Sourced From Pixabay See more from Benzinga • FreightWaves Radio Preview: Apps On Your Phone; The "Urban Warehouse" • FreightWaves Forecast: Ongoing Wildfires, Severe Storm Threats • Port Report: Los Angeles Taken To Court Over Failed Port Project © 2019 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
USD/JPY Weekly Price Forecast – US dollar stabilizes for the week The US dollar has gone back and forth during the week, at least against theJapanese yen. As we start to approach the G 20, a lot of traders will be looking at the statement coming out of the Americans and the Chinese. Quite frankly, that’s probably the only game in town right now, but the one thing that you should keep in mind is that this market has a high sensitivity to risk appetite in general. If risk appetite continues to be relatively decent, then we could get a turnaround and start breaking to the upside. For the longer-term trader, I would wait until we break above the candle stick from the previous week before getting long. However, the real trade is probably going to be based upon whatever statement we get coming out of both camps. If it is somewhat constructive, we could see a rally here as it will drive money away from the Japanese yen. That being said, there’s also the real possibility of disappointment, and if we do in fact get that disappointment it’s likely that the market will probably break down significantly. A gap on the daily chart to kick off the day on Monday more than likely will signal which direction we go. A gap to the downside almost certainly will have this market looking towards the ¥105 level underneath. All things being equal, it makes sense that we continue to struggle for direction between now and then. Please let us know what you think in the comments below Thisarticlewas originally posted on FX Empire • Are Real Estate ETF’S The Next Big Trade? • Natural Gas Price Futures (NG) Technical Analysis – Looking for Counter-Trend Buyers on Break into $2.274 to $2.222 • While the Leadership Race Heats Up, Can Either Deliver on Brexit? • Gold Price Futures (GC) Technical Analysis – Price Action Being Controlled by Treasury Yields • E-mini Dow Jones Industrial Average (YM) Futures Technical Analysis – Holding 26684 Puts Market in Position to Challenge All-Time High • Brent Crude Oil Price Update – Could Breakout Over 200-Day Moving Average at $67.12
KeyBanc Cuts HB Fuller Estimates On Weaker Demand, Uncertainty In China And Europe HB Fuller Co (NYSE: FUL ) continues to face headwinds in Europe and China as well as in the auto and construction markets, according to KeyBanc Capital Markets. The Analyst KeyBanc’s Michael Sison maintained a Sector Weight rating on HB Fuller. The Thesis HB Fuller’s organic growth is expected to moderate going ahead, as the impact its 2018 pricing actions lessens and the company faces uncertainty in the macro environment in China and Europe as well as softer-than-expected demand in the auto and construction related markets, Sison said in the note. The company’s second-quarter results reflected double-digit organic growth in Engineering Adhesives, while volumes at Americas Adhesives declined again. Construction markets could improve modestly, with weather conditions becoming more favorable, Sison mentioned. He added that volumes in developed Europe declined in the quarter and the region could continue to present a challenging low growth backdrop. While HB Fuller is benefiting from positive trends in Indonesia and Vietnam, “any recovery in China is likely to take more time,” the analyst wrote. He reduced the EPS estimates for FY2019 and FY2020 from $3.20 to $3.15 and from $3.90 to $3.80, respectively. Price Action Shares of HB Fuller traded around $45.75 at time of publication Friday afternoon. Latest Ratings for FUL Jun 2019 Maintains Neutral Apr 2019 Downgrades Overweight Neutral Feb 2019 Downgrades Buy Hold View More Analyst Ratings for FUL View the Latest Analyst Ratings See more from Benzinga Citi Downgrades Live Nation, Breaks Down 'Tricky' Valuation Bank Of America Upgrades Owens, Lifts Price Target To Regulatory, Industry Headwinds Pressuring FactSet's Revenue, Goldman Sachs Says In Downgrade © 2019 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Gold Price Forecast – Gold markets continue to consolidate Gold marketsobviously have supported at the $1400 level. That being said, if the $1400 level gets broken to the downside it would kick off a shooting star selling signal on the weekly chart. Those of you who are a bit nimble could try to short this market and reach for the $1375 level, or perhaps even the gap below which has yet to be filled at the $1350 level. That being said, I’m a little bit more conservative in my trade decisions so I will simply be looking for buying opportunities down at that area. Even though gaps do tend to get filled, we can get a sudden reason to turn around and it could be a very painful and overdrawn trade. After all, we have the G 20 meeting this weekend, and the conversations between the Americans and the Chinese will be a major wildcard when it comes to risk appetite, which of course has a lot to do with what happens with gold. Beyond that, with the Federal Reserve looking to cut interest rates longer term, I don’t have any interest in trying to short gold. Quite the contrary, I believe that buying gold is the only thing you can do at this point. I’m simply looking for a pullback to pick up “cheap gold” at lower levels and will take advantage of that. Until we get some type of supportive candle underneath or something of that ilk, I will be patiently waiting. Please let us know what you think in the comments below Thisarticlewas originally posted on FX Empire • U.S. Dollar Index Futures (DX) Technical Analysis – Counter-Trend Buyers Need to Overcome 95.920 to Shift Momentum to Upside • Monero Technical Analysis – Resistance Levels in Play – 01/07/19 • E-mini S&P 500 Index (ES) Futures Technical Analysis – Early Gap Still Intact but Buying Has Slowed • E-mini Dow Jones Industrial Average (YM) Futures Technical Analysis – Holding 26684 Puts Market in Position to Challenge All-Time High • Brent Crude Oil Price Update – Could Breakout Over 200-Day Moving Average at $67.12 • Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 01/07/19
Dems vs. Wall Street: Here are where the top candidates stand TopDemocratsvying for the party’s nomination for the 2020 presidential election are honing their ire atWall Street, placing blame for income inequality in the U.S. on the nation’s largest banks and criticizing the benefits the industry and its ultrarich executives received from theGOP-led tax cuts. The degree to which the contenders are attacking the financial sector, however, vary in intensity. Some top candidates, for example, continue tosolicit Wall Street tycoons for campaign donationseven while taking mild jabs. Meanwhile, Sens. Bernie Sanders, an independent from Vermont who caucuses with Democrats, and Elizabeth Warren, D-Mass., have both argued that reducing the influence of big banks in Washington D.C. is a necessary first step before more sweeping reforms can advance. “Nothing will change unless we have the guts to take on Wall Street, the insurance industry, the pharmaceutical industry, the military-industrial complex and the fossil fuel industry,” Sanders said after Thursday’s Democratic presidential debate. Attacking the financial sector is not a new strategy for those running for the White House. During the 2016 election, even President Trump promised he would not let the industry “get away with murder” and previously said that his administration would investigate breaking up the largest firms. But as Democratic candidates seek to stand-out from a crowded pack and brandish their liberal credentials, the stance on Wall Street is becoming something of a litmus test for the party. Below is a snapshot of key quotes to show where the top contenders stand: Former Vice President Joe Biden “The American middle class built this country. Yet today, CEOs and Wall Street are putting profits over workers, plain and simple. It’s wrong. There used to be a basic bargain in this country that when you work hard, you were able to share in the prosperity your work helped create. It’s time to restore the dignity of work and give workers back the power to earn what they’re worth.” –Campaign website Sen. Bernie Sanders, I-Vt. “Wall Street is doing financially well, and I hope everybody remembers that it was the American taxpayer that bailed out Wall Street some ten years ago, because of their greed, recklessness, and illegal behavior. Now, it is time for Wall Street to pay a modest tax on speculation, so that we can address the many, many crisis facing our country.” –CNN Sen. Cory Booker, D-N.J. “I see every single day that this economy is not working for average Americans. The indicators that are being used, from GDP to Wall Street's rankings, is not helping people in my community. It is about time that we have an economy that works for everybody, not just the wealthiest in our nation.” – Wednesday’s Democratic debate Sen. Elizabeth Warren, D-Mass. “These giant corporations have too much power. They have too much economic power and they have too much political power. And when they’ve got that kind of political power, that’s what creates corruption. Every issue that we talked about tonight gets touched by money in Washington. It’s influenced, it’s shaped, it’s just slightly revised to help the rich get richer and leave everyone else behind. We’ve got to change that.” – Wednesday’s Democratic debate CLICK HERE TO GET THE FOX BUSINESS APP Sen. Kamala Harris, D-Calif. “Sitting across the table from the big banks, I witnessed the arrogance of power, wealthy bankers accusing innocent homeowners of fault as if Wall Street's mess was of the people's making. So we went after the five biggest banks in the United States. We won $20 billion for California homeowners. And we passed -- and together, we passed the strongest anti-foreclosure law in the United States of America.” --CNN Related Articles • Fmr. Notre Dame Coach Lou Holtz Predictions for Trump vs. Media • Trump May Have Dropped Another Clinton Bombshell • Carson: Trump Could Destroy Obama's Legacy
'Jeopardy!' James Holzhauer asks Cubs GM Jed Hoyer if they're hiring Professional sports bettor and "Jeopardy!" champion James Holzhauer has his eyes on the Chicago Cubs ... and maybe the Seattle Mariners. (Photo by Ethan Miller/Getty Images) Jeopardy! champion James Holzhauer has been taking his shot at an MLB front-office job for a while now, but his recent swing is taking it to a new level. Holzhauer, who won nearly $2.5 million during his 33-game streak, made an appearance on Power Alley MLB Network Radio on Friday, and he was asked if theres anything hed like to pass along to the next guest, Chicago Cubs general manager Jed Hoyer. Well, you could ask him if hes hiring, said Holzhauer, a big Cubs fan . " @Jeopardy James" @James_Holzhauer makes his pitch to Jed Hoyer and the Cubs: 'Hire me.' @Cubs \| #Cubs \| #EverybodyIn pic.twitter.com/otSOjC3GRo MLB Network Radio on SiriusXM (@MLBNetworkRadio) June 28, 2019 Holzhauer, a 34-year-old professional bettor in Las Vegas who critics alleged ruined the show, was ruthless and used a background in analytics to gain his advantage. He told the MLB Networks Radio hosts he was certain his show experience would prove helpful to the Cubs. My whole adult life Ive been looking at things from a different way and finding things that other people dont find. I dont know what particular project he and the brass are looking for right now, but I know that theres something there that I could see that no one else would. Holzhauer had dreams of working in an MLB front office when he was younger and even while pursuing a degree in mathematics . Executives with the Oakland As, Boston Red Sox and Baltimore Orioles showed at least some interest in bringing the TV show star to a baseball office while his winning streak continued in early May . Story continues He said on MLB Network Radio he likes living in Las Vegas and isnt especially keen to move. His wife does like Seattle, he said, so Seattle Mariners fans you may be in luck. To take a front-office job, he said it would have to be the right situation. A place that actually listens to me would be the No. 1 thing. Ive talked to some people whove worked in some front offices and they say the worst feeling is when they really pour their heart into a project and the ownership just isnt interested. I dont understand why they hire these guys in the first place if theyre not going to listen to them, but thats beyond my ken. Since his run on the show came to a shocking end short of breaking Ken Jennings winnings record, Holzhauer has been donating to charitable causes. He participated in the World Series of Poker this week , but it didnt go as well as his Jeopardy! appearance. More from Yahoo Sports: Rose responds to LaVar Ball's cringeworthy remark Former WWE star tells harrowing depression tale Brady takes subtle shot at ESPN star's 'cliff' comment Wetzel: For the USWNT, Trump could be Motivator-in-Chief
Argentina fiscal goals on track for now - but about to get much harder By Gabriel Burin BUENOS AIRES, June 28 (Reuters) - Argentina's fiscal targets, on track so far this year, are about to get squeezed as pension payouts rise and tax revenues weaken amid a biting economic rut, potentially leaving a poisoned chalice for whoever is elected president at the end of this year. The recession-hit government has been tightening its budget to trim crippling public debts which forced it to strike a $56.3 billion standby financing deal with the International Monetary Fund (IMF) last year and agree to meet fiscal targets. This helped the government of President Mauricio Macri, seeking re-election, to post a respectable primary surplus of 0.2% of gross domestic product (GDP) in the January-May period. The surplus in May alone was a eight-year high of 25.97 billion pesos. Four analysts surveyed by Reuters said the second half of 2019 would be much tougher, however, estimating the country would post a primary deficit - not including debt interest payments - of 0.7% of GDP, or higher than the deficit of 0.5% agreed with the IMF. The pressure would mount further in 2020, raising the need for controversial reforms to rein in public spending after presidential elections in October and November of this year. "Next year poses a huge fiscal challenge," Nadín Argañaraz, director of the Argentine Institute of Fiscal Analysis (IARAF), told Reuters, predicting a primary deficit of 0.7% of GDP in 2019. "The paths of how to achieve a sustainable surplus should be a matter of debate for the presidential candidates," he added. The analysts polled said the surplus would start to disappear in the coming months as expenses outgrew revenues ahead of the elections and inflation linked pensions spiked. Argentina would likely get a pass from the IMF for a near miss, but a steeper 1% surplus target in 2020 now looked much tougher to hit. "If that indexation to past inflation is not broken, Argentina will not be able to consolidate fiscally, that is the most urgent thing that the markets are going to ask for," said Martin Vauthier, an economist at the consultancy Eco Go, who estimates a primary deficit of 0.9% of GDP in 2019. Macri last month hinted he could modify the pension scheme if he won, citing the "consolidation of the sustainable and equitable pension system" as part of a list of proposals, without giving more details. The coalition of his Peronist rival in the elections, Alberto Fernandez, instead called for "recovering the purchasing power" of retirees, who he said had been hit hard by a previous tweak Macri made to the pension scheme. This initiative, approved by Congress in 2017, relieved pressure from pension payments in the short term, but was criticized by Peronists on the left as overly tough on retirees and conservatives on the right, who said it did not resolve underlying imbalances. Further signs of pension reform would go down well with financial markets, but would rile the electorate ahead of what is expected to be a closely-fought election battle. Both Macri and Fernandez have stayed largely quiet on the matter. Macri's administration and Fernandez's campaign team did not respond to Reuters inquiries on the matter. Some polls indicate the current balance of power in parliament will stay largely intact after the elections, which would hinder fiscal reforms during the next presidency. But Macri would be more likely to make changes, according to Juan Lezica, an economist at consultancy ACM. "If the ruling party continues, we may see some reforms," he said. (Reporting by Gabriel Burin; writing by Nicolas Misculin; editing by Adam Jourdan and G Crosse)
London Bridge attack: Victim’s families criticise authorities for ‘staggering’ failings as coroner clears police and MI5 The families of those killed in the London Bridge attack have criticised authorities for a catalogue of “staggering” failings as a coroner cleared MI5 and the police of failing to prevent the terror attack. Christine Delcros , whose boyfriend Xavier Thomas was struck on the bridge said she believed the attack was preventable. Ms Delcros, who was also injured in the attack, spoke out as Chief Coroner Mark Lucraft QC concluded the eight victims were unlawfully killed on 3 June 2017. The coroner criticised the lack of barriers on the bridge in his conclusions, but said the police investigation was “rigorous”. He said there was an “arguable” case there had been a breach of an operational duty in relation to the police and MI5 investigation before the attack and a general breach of systems for protective security on the bridge. The inquest heard how former London Underground worker Khuram Butt , 27, hired the Hertz van which ploughed into pedestrians on the bridge, killing Frenchman Mr Thomas, 45, and Canadian Chrissy Archibald , 30. The van crashed into railings and Butt, Rachid Redouane , 30, and Youssef Zaghba , 22, ran amok around Borough Market with knives strapped to their wrists and fake suicide belts. They set upon Sara Zelenak , 21, who had fallen over in her high heels then turned on James McMullan , 32, as he tried to help her up. Nurse Kirsty Boden, 28, was stabbed after she went to the aid of French musician Alexandre Pigeard , 26, outside the Boro Bistro. The killers also attacked Sebastien Belanger , 36, and Ignacio Echeverria , 39, who was fatally injured as he fended off the attackers with his skateboard. The rampage which left eight dead and 48 seriously injured was over in just under 10 minutes when the terrorists were shot dead by police marksmen. The inquest has heard how barriers to protect pedestrians on the bridge, were not installed in the wake of the Westminster Bridge attack three months before. And police and MI5 failed to recognise the threat posed by ringleader Butt, who associated with Isis fanatic Anjem Choudary , appeared in the documentary The Jihadi Next Door and was able to teach the Quran at a primary school. Story continues Before the attack, Butt had been under investigation yet authorities failed to pass on tip offs about his extremism, including one from a family member. In an emotional statement, Ms Delcros said: “The absence of necessary preventative measures on the bridge, despite repeated, urgent warnings about the risk to pedestrians on the bridge from experts who knew the risks to the public; and imperfect communication between authorities meant that opportunities to identify all the attackers and disrupt their activities did not occur. “I find it staggering that Butt, a well-known extremist was allowed to work within the London Transport network, to have access to and teach young children, and to rent and use a vehicle in a manner now too often encountered. “I am dismayed SO15 (counter terrorism police) did not pass this critical information to any of his employers. “It also adds to our distress to know that the search for Xavier immediately after the attack was so brief – it lasted only 47 minutes.” Philippe Pigeard, father of young musician Alexandre Pigeard, said outside there were “a lot of missed opportunities” to neutralise at least one of the attackers who was known to be dangerous. Pointing out the lack of barriers on the bridge, he said: “I think this attack could have been prevented.” Sebastien Belanger’s father Julien criticised the “slow response” of London Ambulance Service which meant others had to step in to give aid to casualties. He added: “Many opportunities were missed to prevent this terror attack.” Mr Thomas’ parents added: “It seems to us that a number of elements in the behaviour and demeanour of the terrorists failed to be picked up, although at least one of the attackers had been on MI5’s radar for a very long time, and there had clearly been many opportunities to link him to both other accomplices, we believe opportunities that were missed and lost.” In a statement, Ms Archibald’s parents Greg and Barbara spoke of their hopes that the coroner would recommend “appropriate measures be introduced so that MI5 is notified when a vehicle is rented by a person on their watch list.” They said: “Such a protocol might have prevented the death of Chrissy and others.” In his conclusions, Mr Lucraft noted extraordinary acts of bravery as police officers, medics and members of the public rushed in to help in spite of the danger. Pc Charlie Guenigault was off duty when he took on the three terrorists with British Transport Police Pc Wayne Marques and Spanish banker Mr Echeverria. In an interview, he said: “In my head I just see all three of them standing in front of me, knives in hand and fake vests on and that look of, ‘We’re going to kill you’, basically that sort of anger in their eyes. “When I got stabbed in the head it sounded like an explosion. It just felt like someone had punched me in the face with a massive fist. It didn’t hurt much. I could definitely feel it going into the skin, going into the bone. It was painful afterwards of course.” Pc Guenigault, 27, who was awarded the George Medal, said he “played dead” and waited for the next blow which never came then resolved to “fight with everything I’ve got to stay alive”. He added: “At the inquest... people want to find blame for why such things happened – there are only three people to blame.” Patrick Maguire, from Slater and Gordon, representing Mr Thomas’s family, said: “On 3 June, 2017, eight people lost their lives in an evil and barbaric attack by three terrorists, who were hellbent on a mindless and indiscriminate attack in the heart of the City of London. “This tragedy is all the more devastating for my clients knowing this atrocity could and should have been prevented. “Two separate calls were made to the authorities, to the anti-terrorism hotline and one to MI5 directly, about Butt’s extremism, but these were not provided to the teams investigating Butt.” Helen Boniface, of Hogan Lovells, who represents six of the bereaved families, said: “The absence of barriers on London Bridge is an extremely important issue to all families we represent. This was clearly planned as a two-stage attack – had barriers been in place on London Bridge, they firmly believe this attack would not have taken place here at all and their loved ones would still be here today. “The cumulative weight of intelligence known to MI5 and the police prior to the attack concerns the families that we represent. Kharum Butt was known to the authorities to be a dangerous person and it remains alarming that someone under active investigation can plan and perpetrate a terrorist attack.” She said there were “missed opportunities” to link the three terrorists who trained at the same gym. Sajid Javid, the home secretary, said: “The London Bridge attack was an act of pure evil carried out by a group of terrorists who sought to strike fear at the core of our tolerant and inclusive society. “Over the past two months, we’ve heard the deeply moving and harrowing accounts of people caught up in the horrors of that tragic evening. “We’ve also heard stories of compassion, bravery and pure courage. My thoughts continue to be with the victims and all those affected and I recognise the pain they must have felt reliving events during the inquests.” PA
Higher Asian prices, European gas stocks trigger LNG flow reshuffle By Ekaterina Kravtsova LONDON (Reuters) - Asian liquefied natural gas (LNG) prices rose this week on some demand for summer cargoes, while European prices continued to drop, with an increased price spread between the two regions triggering interest in sending some Atlantic cargoes to Asia Pacific. The LNG price for August deliver in northeast Asia is estimated at $4.80 per million British thermal units (mmBtu), a 20 cent rise from last week. Several deals were done this week at a price close to $5.00 mmBtu for August delivery in Asia, but sources said prices could have decreased slightly by Friday after deals closed. In contrast, front-month gas price on the Dutch hub in Europe dropped below $3.20 per mmBtu. Decreased price netbacks in Europe are making some producers to consider re-exporting cargoes from northwest Europe to more profitable regions, like Asia or the Mediterranean. Up to four transhipments of Russia's Yamal LNG cargoes have been agreed for July, a market source said. In addition, trading houses and utilities are discussing reloads in Europe, another source said. One of these will take place in France's Fos terminal on July 9, data from operator Fosmax showed. Japan's Mitsui is expected to deliver a European cargo to Japan to cover a position that was initially expected to be supplied by a cargo from new U.S. plant, Cameron LNG, which was eventually sent to France, another market source said. Cameron exported its second commissioning cargo this week after earlier delays with loadings. PRICE DRIVERS An uptick in Asian demand has improved Asian LNG prices this week. Demand came from Japanese and Chinese buyers, market sources said. Japan's JERA was on the market, as well two or three Chinese companies, sources said but added demand was still weak and prices will likely drop back to $4.50 mmBtu if there is not enough rise in Asia's temperatures to drive gas demand for cooling this summer. On Friday, JERA bought a September cargo from Vitol at $4.80 per mmBtu at Platts Market on Close window. In India, there is some short-term LNG demand from power plants, a source active in the Indian markets said. In addition, India's Gujarat State Petroleum Corp (GSPC) and Reliance Industries were both looking for an October cargo each, the source added. On the supply side, Angola LNG is selling a cargo for delivery in August in a tender closing July 2, two market sources said. Malaysia's Petronas has offered two cargoes via the LNG trading marketplace Global LNG Exchange (GLX), a market source said. In Europe, high gas storage levels are weighing on prices. Aggregated storage level in the Netherlands, Belgium, France and Germany reached around 370 terrawatt hours (TWh) this week, data compiled by Refinitiv showed. Current stock level is 74% more than a year ago and 42% more than an average at the same period in past four years. Market sources expect that in some European countries storage may be filled by August, leading to a further drop in European prices in the rest of summer months. Usually storage injections stop at the end of October. High storage levels may increase the number of relaods in Europe later this year. "I think we will have too much gas (in stocks) for September, so something will have to move," a gas trader in Europe said. (Reporting by Ekaterina Kravtsova; editing by David Evans)
Silver Price Forecast – Silver markets forming Triangle Silver marketscontinue to grind sideways overall against the US dollar as we are trying to figure out what to do next. Ultimately, the 200 day EMA underneath offers a lot of support as well, just as the gap will. At this point I think that the market will continue to find buyers in that area, and even if we do break down a bit from here I’d be more than willing to look into the idea of buying closer to the $15.00 level. Above, I see the $15.50 level as significant resistance but ultimately we can break above there and go looking towards the $16 level. It’s going to take some time to get there, and we will have the occasional pullback. The Federal Reserve is looking to cut interest rates so that should help precious metals in general. Ultimately, I think that the market will probably find buyers on dips, and that’s essentially how I’m going to play this market. Taking advantage of value every time we get an opportunity to do so is the best way to play this market. It’s not until we break through the $15 level significantly that I would be a concerned party. Until then, I anticipate that we will grind our way higher, as this market tends to be a bit slower moving than gold, perhaps due to the massive contract size. Either way, I have no interest in shorting and I do believe it’s only a matter time before we go higher. If we can break above the $16.00 level, then the market could go even higher from a longer-term situation. Please let us know what you think in the comments below Thisarticlewas originally posted on FX Empire • E-mini Dow Jones Industrial Average (YM) Futures Technical Analysis – Holding 26684 Puts Market in Position to Challenge All-Time High • E-mini S&P 500 Index (ES) Futures Technical Analysis – Early Gap Still Intact but Buying Has Slowed • Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 01/07/19 • Yuan Surges, Asian Assets Enjoy Time in the Sun on US-China Trade Talks Redux. But How Long Will it Last? • EUR/GBP Still Bullish While the Price is Above the D L4 Pivot • Traders unwinding G20 hedges, but can the good-will last?
UPDATE 4-EU, Mercosur strike trade pact, defying protectionist wave * Deal comes as G20 leaders meet, with focus on trade * EU wins sharp tariff reductions on cars and wine * Mercosur to boost beef, sugar and other farm exports * EU countries, parliament still need to back deal * Europe tariff reductions would come faster (Adds comment from Argentina starting in paragraph 7) By Philip Blenkinsop BRUSSELS, June 28 (Reuters) - The European Union and South American bloc Mercosur agreed a free-trade treaty on Friday, concluding two decades of talks and committing to more open markets in the face of a rising tide of protectionism. The two regions launched negotiations exactly 20 years ago and intensified efforts to reach an accord after Donald Trump's presidential victory led the Europeans to freeze talks with the United States and seek other global trading allies. As world leaders meet at a G20 summit in Japan, EU Trade Commissioner Cecilia Malmstrom told a news conference the deal sent a "loud and clear message" in support of open trade. The EU's drift away from the United States has also spurred on a free trade deal with Canada and helped to reach accords with Japan and Mexico. Now, after some 40 rounds of talks, the Europeans have reached a provisional deal with the trade bloc founded by Argentina, Brazil, Paraguay and Uruguay. For Mercosur, the EU is the first major partner with which it has struck a trade pact, offering EU firms a potential head start. The European Union is already Mercosur's biggest trade and investment partner and its second largest for goods trade. The opening to Europe also offers more avenues for development in South America, which has been tugged in recent years between the ascent of top trading partner China and enduring U.S. influence in the region. Together, the EU and Mercosur are responsible for 720 million people and a quarter of global gross domestic product, according to the government of Brazil, whose President Jair Bolsonaro said on Twitter that the deal was historic and one of the most important trade agreements of all time. If ratified, the deal will be a victory for Bolsonaro, whose right-wing politics have met with a chilly reception in much of the world, as well as Argentine President Mauricio Macri, who is battling for reelection this year amid a steep recession. Argentine Treasury Minister Nicolas Dujovne said the deal had "enormous potential to increase investments fundamental to sustained growth." Both conservative presidents have been proponents of lowering the region's traditionally high tariff barriers. WINE AND CHEESE In terms of tariff reduction, it could be the EU's most lucrative trade deal to date, with some 4 billion euros ($4.55 billion) of duties saved on its exports, four times more than its deal with Japan. Europe has its eyes on increasing access for its manufactured goods, notably cars for which tariffs are 35%. It also wants to allow its firms to compete for public tenders, and to sell more wine and cheese. Mercosur aims to boost exports of agricultural commodities. Brazil said the agreement would eliminate import tariffs for several farm products, including orange juice, instant coffee and fruit. It will also get a new 99,000-tonne quota of beef at a 7.5% tariff, phased in over five years, along with tariff-free 180,000 tonne quotas each of sugar and of poultry. "It is true that the agreement will make us compete with the best, but the agreement gives us room to maneuver," Argentina Secretary of Economic Policy Miguel Braun said on Twitter. "Europe will eliminate the bulk of its barriers in 5 years and Mercosur will apply a gradual tariff reduction over a period of up to 15 years, which will allow the private sector to adapt." EUROPEAN NERVES OVER BEEF, ENVIRONMENT Past deadlines had come and gone, because of EU nerves about a surge of beef imports and Mercosur hesitation about opening up industries such as automaking. The agreement still faces challenges before it can enter force. The deal still needs final approval from Mercosur, the European Parliament and their constituent countries, which Brazil's government conceded could take years. France is one of the European countries expressing concerns about a surge in beef imports, while environmental groups, whose influence is stronger in the new European Parliament, argue that the agreement could exacerbate deforestation. The parties said they both committed to implement the Paris climate change agreement and that a special chapter on sustainable development would cover issues such as forest conservation and labour rights. EU Agriculture Commissioner Phil Hogan said he recognised the concerns of farmers, including from his country, Ireland, but that free trade agreements struck by the bloc as a whole were opening markets for EU farmers. ($1 = 0.8794 euro) (Additional reporting by Cassandra Garrison and Adam Jourdan in Buenos Aires, Marcelo Teixeira in Sao Paulo and Robin Emmott in Brussels; Editing by Hugh Lawson, Peter Graff and James Dalgleish)
Motorcar Parts of America Inc (MPAA) Q4 2019 Earnings Call Transcript Image source: The Motley Fool. Motorcar Parts of America Inc(NASDAQ: MPAA)Q4 2019 Earnings CallJun 28, 2019,9:30 a.m. ET • Prepared Remarks • Questions and Answers • Call Participants Operator Good day, ladies and gentlemen, and welcome to the Motorcar Parts of America Fiscal 2019 Fourth Quarter Results Conference Call. At this time, all participants are in listen-only mode. Later, we will conduct a question and answer session. (Operator Instructions) As a reminder this conference call is being recorded. I would now like to turn the conference over to your host Gary Maier, Investor Relations. You may begin, sir. Gary S. Maier--Investor Relations Thank you, Nicole. Thanks everyone for joining us today and welcome to Motorcar Parts of America's fourth quarter and fiscal year end. Before we began, and I turn the call over to Selwyn Joffe, Chairman, President and Chief Executive Officer, and David Lee, the Company's Chief Financial Officer, let me remind everyone of the safe harbor statement in today's press release. The Private Securities Litigation Reform Act of 1995 provides a safe harbor for certain forward-looking statements, including statements made during today's call. Such forward-looking statements are based on the Company's current expectations and beliefs concerning future developments and their potential effects on the Company. There can be no assurance that future developments affecting the Company will be those anticipated by Motorcar Parts of America. Actual results may differ from those projected forward-looking statements. These forward-looking statements involve significant risks and uncertainties, some of which are beyond the control of the Company and are subject to change based upon various factors. The Company undertakes no obligation to publicly update or revise any forward looking statements, whether as a result of new information, future events or otherwise. For more detailed discussion of some of the ongoing risks and uncertainties of the Company's business, I refer you to the Company's various filings with the Securities and Exchange Commission. With that said, I'd like to begin the call and turn the call over to Selwyn Joffe. Selwyn H. Joffe--Chairman, President and Chief Executive Officer All right. Thank you, Gary. I appreciate everyone joining us today. Let me begin by briefly addressing the issues that required us to file the Form 12b-25 on June 14th, which provided a 15-day extension for filing our fiscal 2019 results. This extension was due in part to internal control issues related to our review of certain accounting policies and to our growth and recent acquisitions. Ultimately, we determined that our controls and procedures were not as effective as they need to be. It was determined that the combined efficiencies in the aggregate was a material weakness. However, I should note that the acquisition in scope only represented approximately 2% of our revenues in fiscal 2019. We take these deficiencies seriously and have a remediation plan that has begun. Additional details will be available in our Form-10-K filed later today. Okay. So, I'm going to move on to, our record sales for the fiscal fourth quarter and improved adjusting operating margins are indicative of the opportunities for us, as we complete our transition into our new footprint. We have expectations for continued growth, enhanced profitability and improved cash flow. I should mention that the fourth quarter results were impacted by a number of items, predominantly non-cash, which David will discuss in more detail later in this call. We are at an exciting inflection point. Our business has grown, our product lines are expanding and our global footprint is rapidly evolving to support the strategic growth. We have evolved to become a major multi-product supplier to the North American aftermarket, from a Company with a single focus on rotating electrical just several years ago. We have made the investments in infrastructure and related initiatives to support our strategic plan. In short, our vision to be the global leader for parts and solutions that move our world today and tomorrow, is becoming more-and-more meaningful on a daily basis. Our expansion from being a Company with a single focus on rotating electrical, started with the introduction of wheel hubs. From this space, we have continued our expansion with master cylinders, brake boosters and turbochargers and have made investments to support additional significant growth. Our economic metrics are improving for our evolving product lines, as they gain traction in the marketplace and we complete the transition into our new footprint. The move into our new facilities will be substantially complete by the end of this fiscal year. Despite the short term expansion challenges of transforming our footprint, ramping up production for our growing business while we move between facilities and building inventory levels to support our excellent forays (ph) during the transition, significant improvement in operating metrics will result. Inventory levels for existing product lines were reduced throughout the latter part of this fiscal year. This, combined with the substantial reduction of payments for core buybacks from our existing business and increased profitability will significantly improve operating cash flow. In addition, during the second half of this year, we will have a significant new business which will also contribute to operating cash flow and profitability. In short, we're excited by our emerging growth and the economic metrics and the opportunities to further leverage our expanded footprint and our well-deserved reputation as a premier supplier to the aftermarket. Our new 400,000 square foot distribution center in Mexico was designed with the capacity to ship multiple product lines from a single point of origin and we are adding to our production capacity with two other adjacent facilities. Upon completion of these new facilities, our footprint in Mexico will expand to more than 1 million square feet. In short, this will enable us to support our existing business, as well as new business commitments that have commenced already or are in the process of being launched throughout this fiscal year. Let me take a moment to discuss the heavy duty business, which we acquired late in the fiscal year. To start, I emphasize that as part of our expansion of Dixie, we have already added or are in the process of adding infrastructure, which will complement our internal control remediation plans. Dixie Electric has a solid and growing customer base, innovative products and enhanced heavy duty expertise and a dedicated team of professionals. We anticipate continued success as it benefits from investments in the sales team and sales team expansion, and enhancements to manufacturing, marketing and merchandising and other synergistic opportunities since we acquired them. We are already seeing positive sales momentum for our heavy duty products. The D&V diagnostic business is gaining momentum in both the internal combustion engine and electric vehicle market. As part of our growth strategy, we have added sales infrastructure in key OE electrical markets around the world. In addition, due to the expected growth of D&V, we are adding infrastructure which will support our financial remediation plan. As sales for D&V combustion engine diagnostic equipment, including bench top testers are progressing well, and service and software solutions will also provide additional opportunities as our installed base grows. The emerging electrical vehicle and aerospace markets are gaining traction for pre and post-production testing equipment and we continue to be excited by emulation testing capabilities within the automotive and aerospace industry. We look forward to sharing news about our milestones and wins throughout the fiscal year. Let me now discuss fiscal 2020 guidance. We expect adjusted net sales for fiscal year 2020, ending March 31st, to be between $552 million and $562 million, representing between 16% and 18% organic growth year-over-year, significantly ramping up in the second half of the year. This reflects our expectation to grow our annualized adjusted sales run rate by approximately $100 million by fiscal year end. Adjusted gross margin for fiscal year 2020 is expected to be approximately 27%, impacted by our product mix and the launch of our new product line. As we discussed, profitability and cash flow are expected to improve on a year-over-year basis. I should mention that the Company has instituted much deserved price increases across all existing product lines beginning in the latter part of this year. To highlight our overall positive outlook, I refer you to our investor presentation on our website, which shows the macro industry charts, including a chart related to the expansion of the car park, sweet spot for repairs. We are now seeing the back end of lower new car sales from recession years in the prime parts replacement time frame. Essentially, the number of prime replacement aged vehicles is growing. These statistics further support our Company's and the industry's optimism for growth over the next several years. I'll now turn the call over to David to review the results for the fourth quarter and year end. David Lee--Chief Financial Officer Thank you, Selwyn. To begin, I encourage everyone to read the 8-K filed this morning, with respect for our March 31st, 2019, earnings press release, for more detailed explanations of the results, including reconciliation of GAAP to non-GAAP financial measures and the 10-K filed later today. Let me take a moment to review the financial highlights for the fiscal 2019 fourth quarter, reflecting record sales for both the quarter and 12 months on a reported and adjusted basis. The gross margin for the quarter was primarily impacted by three items, totaling $12.9 million. Non-cash expenses of $8.5 million comprise of a writedown of $7.4 million associated with the quarterly revaluation for cores on customers' shelves and $1.1 million of amortization related to the premium for core buy backs, transition costs of $2.5 million, associated with the move into the larger consolidated distribution center to support the growth in sales, and customer allowances and stock adjustment costs of $1.9 million related to new business. Net sales for the fiscal 2019 fourth quarter increased 7.8% to $129.1 million from $119.7 million for the same period a year earlier, reflecting sales increase for both hard parts and diagnostic products. Adjusted net sales for the fiscal 2019 fourth quarter increased $9.3 million, or 7.5% to $132.7 million. Gross profit for the fourth quarter was $26 million compared with $29.1 million a year earlier. Gross profit as a percentage of net sales for the fourth quarter was 20.1% compared with 24.3% a year earlier, which was impacted by the three items previously highlighted. Adjusted gross profit for the fourth quarter was $39 million compared with $36.3 million a year earlier. Adjusted gross profit as a percentage of adjusted net sales for the fourth quarter was 29.4% compared with 29.4% for the prior year fourth quarter. Total operating expenses increased by $5.5 million to $20.5 million for the fourth quarter from $15 million for the prior year. Adjusted operating expenses increased by $961,000 to $16.3 million for the fourth quarter from $15.3 million for the prior year. This increase in adjusted operating expenses was primarily due to expenses for newly acquired assets of E&M Power in December 2018 and Dixie Electronics in January 2019. Additionally, adjusted operating expenses increased due to personnel and related expenses to support our value added customer service programs and growth, including sales, in both our hard parts and diagnostics businesses, merchandising, marketing and engineering, commissions due to increased sales, Mexico related expansion expenses and overall expense increases related to growth. The increases were partially offset by a $2.2 million decrease in bonus expense. As mentioned previously due primarily to the several items impacting gross margins that I discussed, operating income was $5.5 million for the fiscal 2019 fourth quarter compared with $14.1 million for the prior year fourth quarter. Adjusted operating income was $22.7 million for the fourth quarter compared with $21 million for the prior year. Our adjusted EBITDA was $24.8 million for the fourth quarter compared with $22.2 million for the period a year ago. Depreciation and amortization expense was $2.4 million for the fourth quarter. Interest expense was $6.7 million for the fourth quarter compared with $4.7 million last year. The increase in interest expense was due primarily to an increase in the utilization of and higher interest rates on our accounts receivable discount programs, increased average outstanding borrowings as we build our inventory levels to support anticipated higher sales, and higher interest rates on our average outstanding borrowings under our credit facility. Income tax expense for the fourth quarter was $1.6 million compared with income tax expense of $1.1 million for the prior year period. The new tax law resulted in lowering our total blended corporate tax rate from 39% to 25%, effective January 1st, 2018. Net loss for the fourth quarter was $2.8 million or $0.15 per share compared with net income of $8.4 million or $0.43 per share a year ago. Adjusted net income was $12 million, or $0.63 per diluted share for the fourth quarter, compared with $10.5 million or $0.54 per diluted share for the prior year. Let me now discuss the results for the 12 months ended March 31st, 2019. Net sales increased 10.6% to $472.8 million for fiscal '19 from $427.5 million for the prior year 12 months. Adjusted net sales for the 12 months period increased 9% to $476.3 million from $437.1 million for last year. Net loss for the 12 months period was $7.8 million, or $0.42 per share, compared with net income of $19.3 million, or $0.99 a year ago. Adjusted net income for the 12 months period was $33.3 million compared with $37.1 million a year earlier and adjusted diluted earnings per share were $1.73 compared with $1.90 last year. Our adjusted EBITDA was $73.8 million for the 12 months period compared with $77.2 million a year earlier. As of March 31st, 2019, trailing 12 months adjusted EBITDA was $73.8 million and the average equity and net debt balance was $381 million, resulting in a 19.4% return on invested capital on a pre-tax basis. Our method of calculating ROIC is to divide trailing 12 months adjusted EBITDA by the average equity and net debt balance for the 12 months period. At March 31st, 2019, we had net debt of approximately $128.4 million. Total cash availability on the revolver credit facility was approximately $98.6 million at March 31st, 2019, based on a total $200 million revolver credit facility and subject to certain limitations, which was increased subsequent to fiscal year end to $238.6 million. At March 31st, 2019, the Company had approximately $632 million in total assets, current assets were $353 million and current liabilities were $279 million. Under the authorized share repurchase program as of March 31st, 2019, $15.7 million of the $37 million common stock authorization has been utilized and $21.3 million is available to repurchase shares. Net cash used in operating activities during the fiscal year 2019 was $40.3 million, primarily due to a $53 million increase in inventory net of payables for new business and growth. As Selwyn previously discussed, we had invested in inventory to support the seamless transition to our expanded footprint and growth. We anticipate increased cash flows from reductions in this inventory related to existing product line in the latter half of this fiscal year. Additionally, there will be a substantial reduction of payments for core buybacks from our existing business, which will generate stronger financial profitability and operating cash flow on a year-over-year basis. For the reconciliation of non-GAAP financial measures please refer to Exhibits 1 through 7 in this morning's earnings press release. I will now open the call for questions and Selwyn will then provide some closing remarks. Operator Thank you. (Operator Instructions) And our first question comes from Steve Dyer from Craig Hallum. Your line is now open. Steve Dyer--Craig Hallum -- Analyst Thanks. Good morning, guys. Question on gross margins. I think you guided for 27% for the year. This quarter was certainly better, the March quarter was quite a bit better than I had expected. So can you just help us with the cadence through the year? I am assuming maybe it takes a step back below that 27% and works its way higher through the year, or how do you sort of arrive at that 27%ish? Selwyn H. Joffe--Chairman, President and Chief Executive Officer I think you got it Steve. It does take a step back because generally our first quarter is much slower quarter than the rest of the year and ramps up. And so, it's going to take a step back and then will take a step forward. I mean a lot of thing is going on in the gross margin percentage number. There's a lot of -- there is new activity in sales for new product lines that we'll be launching and so there is some margin pressure when you launch those in the beginning. And then, obviously, we've gone through our transition. When we get through the transition, you'll see a nice bump in margins again, but a lot of noise right now because of the differing product mix that's out there. But again, I think that's all incorporated into this guidance on 27% and as we get toward the latter half of this year, we should see significant margin improvement across the board, because we're getting through to the end of this Mexico transition program, the buildings have progressed on target right now, and we expect the end of the second quarter to start moving into one of the new buildings. Yeah. So, the cadence is little slower in the beginning of the year. You can see that -- I mean the exciting part of the story in my opinion is that, you see the fourth quarter margins and that's indicative of where we are when we start running at capacities that the new facility is ready to take on. And these revenue levels, again, are much lower than we're going to be at. But in the next quarter, I think I mentioned in the call, we expect to increase our revenue run rate by at least $100 million. And that will absorb a lot of the overhead, and again, have some traction in the margin number. Steve Dyer--Craig Hallum -- Analyst Okay. Just looking at the growth number for this year, I'm trying to parse out how you're thinking about organic versus the two acquisitions that you did. And I think we've talked about what you expect from them. Recently, the math would suggest something like, I don't know, 12% or 14% organic and then, the rest, whatever, 3, 4 points of acquired growth. Is that generally ballpark for your growth assumptions for this year? Selwyn H. Joffe--Chairman, President and Chief Executive Officer Yeah. Let me just comment and then I'll comment on that. To us, it's all organic because we've made the acquisitions, but it's annualizing some of those acquisitions and you're right, it's around that percentage. But there's a lot of growth now just in our existing hard parts business. I mean, we are seeing some pretty exciting activity in the diagnostics business as well right now, but it's predominately driven by hard parts. Steve Dyer--Craig Hallum -- Analyst Okay. Got it. And then, last for me. Obviously, the transition here to the new building, you've built a ton of inventories, but a big drag on cash flow, big drag on margins. What part of the fiscal year (inaudible) do you expect that to swing back to the positive? I mean is that a Q3 thing, is it more likely Q4, can it be earlier, when would you expect to be able to get some of that working capital back in your direction? Selwyn H. Joffe--Chairman, President and Chief Executive Officer So, we expect that in Q3 you'll start seeing a reduction of the inventories. There will be still a little bit of a build in the first quarter, and then, you'll see it -- we think it's a pretty big number from where we are today. I think we're looking at generating at least $10 million from existing inventory plus. And then, we've also -- the amount of core payments from a cash perspective has gone down. David, what that amount has gone down by? David Lee--Chief Financial Officer Its going down by $16 million in fiscal 2020 compared to '19. Selwyn H. Joffe--Chairman, President and Chief Executive Officer Yeah. So, there's an incremental $16 million of free cash flow from reduced core payments related to the existing business as well. We're getting through buying back these cores, which is, you're only buying back once and then you own them, you don't have to buy them again. And so once you own all these cores, the economic metrics from the cash flow change dramatically. Steve Dyer--Craig Hallum -- Analyst Got it. Okay. So just to be clear, you guys will be plenty cash flow, free cash flow positive in fiscal '20, that's the expectation? Selwyn H. Joffe--Chairman, President and Chief Executive Officer Yeah. The expectation that you'll see that stock coming in the second -- in third and fourth quarter. Yes. Steve Dyer--Craig Hallum -- Analyst Okay. All right. Thank you. Operator Thank you. And your next question comes from Chris Van Horn from B. Riley FBR. Your line is now open. Chris Van Horn--B. Riley FBR -- Analyst Good morning, guys. Thanks for taking the call. Selwyn H. Joffe--Chairman, President and Chief Executive Officer Thanks, Chris. Chris Van Horn--B. Riley FBR -- Analyst Just to follow up on that organic growth for 2020. Is there anything that you can really point to, is it continued market share gains, is it some of the new product orders that you expect? Could we see possibly new other product launches that you might be looking at as well? Just a little more detail on the organic side. Selwyn H. Joffe--Chairman, President and Chief Executive Officer Yeah. So, we are seeing growth everywhere. So I'll start with that comment. Some is more exciting than others, but we are seeing growth in all of our product lines. We expect also to have new products that will be -- traction from the new products that will also be launched sort of the back half of the year. So between the new products, all of our existing product -- hard parts revenue will go up. We're seeing increases in our diagnostics revenue gone up, our electric vehicle initiatives will go up. I mean the challenge on the diagnostic side is that, very specialized equipment and so it's choppy in the quarters, but pretty significant as this grows. So you'll see it across the board, but I think, you'll see a lot of new business coming on board toward the back half -- in the back half of the year, again, from organic hard parts, I mean that's really where the biggest focus is. Chris Van Horn--B. Riley FBR -- Analyst Okay. Great. And then just to dig maybe a little bit on the diagnostic side, could you just remind us, is that both for desktop testing as well as some of the stuff you're doing on the OEM side? And then, I don't know I am sure if you've commented before, but the margin profile for diagnostic revenue versus your Company average, any information there will be great. Selwyn H. Joffe--Chairman, President and Chief Executive Officer Yeah. So, there are two types of diagnostic equipment, we've got the combustion engine diagnostics and we've got electric vehicle diagnostics, which includes aerospace and automotive and trucks for that matter. On the combustion engine side, we have the bench top testers, we have a number of OEs that use our equipment and this is all related today to our rotating electrical and hybrid vehicle technology, belt start generators, which is another area as more hybrid cars get on the road. We'll see the margin profile on that is a little bit lower than the electric vehicle side, but certainly should not be a drag at all, but hopefully accretive at some point to these margins that we've given guidance on. On the electric power vehicle side, the margins are higher. As of today, it's a very competitive market, but I think we have a very niche spot and we are very much software driven, so the margins are a lot higher and the maintenance and potential for SaaS model on the electric vehicle side is pretty exciting. So, as the electric vehicle business takes traction, those margins are a lot different and then a lot higher than the hard spots aftermarket margins. Chris Van Horn--B. Riley FBR -- Analyst Okay. Got it. Then just on the core, no pun intended, but on the core part of the business, rotating electrical, can you talk about the competitive landscape? Is there some pricing pressure going on there or what are do you seeing, because I know there's only a couple of you guys out there now and so, I kind of feel like -- and you've been taking share. I think you're in a great position, but just wanted to see what's going on from a competitive standpoint? Selwyn H. Joffe--Chairman, President and Chief Executive Officer Yeah. I mean really there are two major players in the market. There are others that obviously are trying to get into the market. Our rotating electrical business continues to be a very good business for us, continues to grow. We have high expectations for it to continue to grow. We don't expect that growth to slow. We still have a lot of share that's out there and I think there's a lot of opportunity for both players that are left -- both of the major players that are left in the marketplace. There's obviously, as you know, been price -- cost inflation around the world in terms of labor costs, occupancy costs, utility costs, transportation costs, fuel costs, cleaning supplies, tariffs on things that you don't pass through. So there's been some, I would say, headwinds in terms of our operating expense in our rotating electrical and our hard parts business, and that's why we're taking the price increases through on that. I think at this point in time, it's always competitive from a price perspective, but we are absolutely adamant that price increases will be introduced. And we think there's stability there. I think the market hopefully is rational, there's no waste in the system, consumers are -- and our customers are getting a good deal, and I believe that consumers' going to get a good deal and that will continue. And I think the tariffs is an unknown in terms of how pricing will affect the consumer, but we again are passing through and we'll intend to pass through all of our tariffs. And so, I mean that's a long winded answer to, I think the market is stable, it's still competitive. I think there's opportunity for everybody to stabilize that market and I think there's opportunity. The pricing pressures are real so the customers are getting competitive rates, but yet the suppliers can survive and have viable businesses going forward. So, that's a long drawn out speech, but I think it's important for all the different constituents that are listening on the phone to understand exactly where we are. Chris Van Horn--B. Riley FBR -- Analyst Yeah absolutely. Thank you so much for that color. That's it for me. Thanks. Operator Thank you. (Operator Instructions) And our next question comes from Scott Stember from CL. King. Your line is now open. Scott Stember--CL. King -- Analyst Good morning, guys. Selwyn H. Joffe--Chairman, President and Chief Executive Officer Good Morning, Scott. Scott Stember--CL. King -- Analyst David, I don't know if I heard, did you give out the breakout by segment for revenues within the quarter? David Lee--Chief Financial Officer We did not. Scott Stember--CL. King -- Analyst Could you give that out? It's just something that we've been getting for a while, it helps from a modeling perspective. Selwyn H. Joffe--Chairman, President and Chief Executive Officer Yeah. I think the key thing there is that, there's a lot of movement in different product lines, there are lot of competitive challenges for us, and confidentialities that we have on our product line growth right now with our customer base. But we don't mean to be elusive on it, but I mean I think right now, we would just look at hard parts in general from organic products. So, a little difficult to break it out for us. Now, as we go down through the year, we can talk about that more, but a little sensitive time for us right now, Scott. I apologize for that, in terms of breaking out what the growth is going to be. And again, we don't want to be -- we want to be as transparent as possible, but certainly we have some industry challenges in being able to be more transparent than we are. Scott Stember--CL. King -- Analyst No. I could appreciate that, but could you give us some directional just on -- because obviously you have some new business that you've won. It'd be nice to know how much of that is contributing and versus some of the core stuff? And obviously a lot of that plays into the margin right as well. So is there anything you can give us? Selwyn H. Joffe--Chairman, President and Chief Executive Officer Yeah. So, let me try and give you a little bit of a bridge, but it's not going to be part number, but it'll be by hard parts. And I think there's probably, on the run rates, OK. I mean, I think there's probably a contribution of around little over $20 million plus of incremental sales from both the two new acquisitions. So that's a run rate of where they are today. So that's about $20 million of it. And then the hard parts growth is $70 million plus in hard parts growth. And you'll see that sequentially through the year but you'll see big jumps in third and fourth quarter. Scott Stember--CL. King -- Analyst So, when you say hard parts, you're referring to your existing products? Selwyn H. Joffe--Chairman, President and Chief Executive Officer Existing products and new products in the hard parts category. Scott Stember--CL. King -- Analyst Okay. Got it. Selwyn H. Joffe--Chairman, President and Chief Executive Officer It's mostly. I mean and yeah, I think that should get you through some of the modeling challenges that you guys are having. We'll try and provide color as we go down through -- as we get into the -- more developed into the year. Scott Stember--CL. King -- Analyst Okay. And just to flesh out the comments about organic growth again, that was asked earlier. Is that a true organic 60% to 80% or again the 3% to 4% is coming from business that -- have these acquisitions anniversaried already or this is just incremental sales or growth that you expect from these acquired businesses? Selwyn H. Joffe--Chairman, President and Chief Executive Officer A small amount of it is going to anniversary. I mean on the Dixie, we bought at the end of the year, so the annualization of that is in that number. I mean we've classified that as organic, but that's a relatively small amount of it. The rest is all organic. The rest of all anniversaried and the rest is all just straight organic growth. So very small amount of it. If you don't count the annualization of the Dixie acquisition as organic, I mean, I think that's going to be $8 million to $10 million out of the growth, of the $100 million that we're looking at. Scott Stember--CL. King -- Analyst So, I (ph) back that out, you get to true organic numbers. Okay. Got it. Selwyn H. Joffe--Chairman, President and Chief Executive Officer Yeah. That's the annualized amount of that. Scott Stember--CL. King -- Analyst All right. And with regards to -- you mentioned price increases and just want to talk about gross margins and some of the puts and takes for next year again. Obviously, if you were looking at the as adjusted number that already smooths out I guess for the $2.5 million worth of transition that's in the new facility. So maybe just talk about some of the headwinds? Just specifically, again, whether it's freight, labor and product mix? You did talk about product mix, maybe just talk about those things and maybe in order of importance? Selwyn H. Joffe--Chairman, President and Chief Executive Officer Yes. I mean, obviously, labor -- I will start with labor. In order of importance, labor is extremely important. Labor is up all over the world. We have new minimum wage rules in Mexico, which basically escalates all your levels of wage increases. You have new minimum wage levels in California, escalates wage increases all the way up. We have new minimum wage rules in Malaysia. We have new minimum wage rules in India. I mean so certainly there's wage inflation in China. I can tell you occupancy costs in all third world countries, in particular in Mexico have gone up, because everybody's running to try and get into tariff free locations. So, occupancy costs have gone up, utility costs have gone up. Companies have been passing through the direct effect of tariffs on the product that they sell, but there's a tremendous indirect effect of tariffs. And it's amazing what comes out of China and what you'll see in terms of increases in costs from soaps to brushes that you clean your floor with. I mean it's everywhere and the price increases certainly I would view them as neutralizing headwinds. There's not windfalls for us as you can see by the guidance in our margins. And that's another reason I would tell you that we're absolutely adamant that we will not ship products unless we get our price increases. So it's fair, it's for the industry, there's a lot of that headwind and we expect that to go on. But having said that, we've incorporated that into our guidance and that's, we're at 27%, which is similar to where we ended at this year. And we think that, as time goes on, with the efficiencies of the new facilities, that we would see some margin expansion also with the growth of electrical vehicle initiatives. Scott Stember--CL. King -- Analyst Got it. And last question. You mentioned lower core purchases expectations for next year. Can you maybe just walk us through why that's happening again and what's triggering that, whether, I don't know, if we have too many cores or just trying to balance things out, or is there something else that we need to look at? Selwyn H. Joffe--Chairman, President and Chief Executive Officer So the focus is on cores on customer shelves, on the buyback amount that we're talking about. So I'll hand it over to David to talk about that. David Lee--Chief Financial Officer So, during fiscal 2019, payments for those previous core purchases for new business was approximate $28 million and in fiscal '20, we expect that to come down to about $12 million. So that's the $16 million decrease in those payments. Scott Stember--CL. King -- Analyst Yeah. And I'm just trying to figure out what the rationale, why is it coming down? David Lee--Chief Financial Officer Sure. So four years ago, when we got new business, we purchased cores, so that four-year payment has now ended. So as years move on, then the payments become less, because you're starting to pay off for those cores, which are paid for only one time, you don't pay for them again. I mean large four-year payment plan just ended in fiscal '19. Scott Stember--CL. King -- Analyst Okay. And obviously, going forward, would that mean also that there'll be less -- or there'll be close -- GAAP earnings will be more closely aligned with the as reported, or it is strictly cash flow we're talking? David Lee--Chief Financial Officer On the sales, there will continue to be amortization of the core premium. And it really depends on amount of new business that we get and what kind of allowances that we give to customer for this core buybacks. But again once we do buy those cores that premium is amortized over the life of the contract. Selwyn H. Joffe--Chairman, President and Chief Executive Officer There are two things, I mean there's the cash component of it, which is coming down dramatically, but when we buy back cores, we amortize generally over, I think, an eight-year period? David Lee--Chief Financial Officer Correct. Selwyn H. Joffe--Chairman, President and Chief Executive Officer We amortize the premium that we bought back the cores over an eight-year period. So the cash -- we own the cores, but we still have to amortize this premium. And that's what's the change we made in the restatement in the second quarter. So you saw that's the sort of non-cash amortization of cores on customer shelves. But the other thing to remember is that, again nothing has changed. If we ever lose the business, which hopefully we won't, we don't expect to -- we get reimbursed the full amount of cash. It's not based on level of cost and the realizable value, it's a fixed contract price. Scott Stember--CL. King -- Analyst Got it. That's all I have. Thanks for taking my questions. Selwyn H. Joffe--Chairman, President and Chief Executive Officer Thank you. David Lee--Chief Financial Officer Thank you. Operator Thank you. And there are no further questions at this time. I would now like to turn the call back to Selwyn Joffe, Chairman, President and CEO, for any further remarks. Selwyn H. Joffe--Chairman, President and Chief Executive Officer Thank you. In summary, everybody, as you heard, we have many growth opportunities and the new business commitments are continuing. The Company, as a whole, is very well positioned to create value. And we look forward to updating you on the significant progress we make as we go through the year. And as always I want to thank all our team members for their commitment and customer-centric focus on service and for their exceptional pride in all the products we sell and the customer services we provide. Their commitment to quality and service is also reflected in the wonderful contributions they make to their communities and our society. They are terrific and I'm proud to work with them. We appreciate your continued support and we thank you again for joining us for the call. We look forward to speaking with you when we host our fiscal 2020 first quarter conference call in August, and at the various conferences that we attend. Thank you. Operator Ladies and gentlemen, thank you for your participation in today's conference. This concludes today's program. You may all disconnect. Everyone have a great day. Duration: 43 minutes Gary S. Maier--Investor Relations Selwyn H. Joffe--Chairman, President and Chief Executive Officer David Lee--Chief Financial Officer Steve Dyer--Craig Hallum -- Analyst Chris Van Horn--B. Riley FBR -- Analyst Scott Stember--CL. King -- Analyst More MPAA analysis All earnings call transcripts More From The Motley Fool • 10 Best Stocks to Buy Today • The $16,728 Social Security Bonus You Cannot Afford to Miss • 20 of the Top Stocks to Buy (Including the Two Every Investor Should Own) • What Is an ETF? • 5 Recession-Proof Stocks • How to Beat the Market This article is a transcript of this conference call produced for The Motley Fool. While we strive for our Foolish Best, there may be errors, omissions, or inaccuracies in this transcript. As with all our articles, The Motley Fool does not assume any responsibility for your use of this content, and we strongly encourage you to do your own research, including listening to the call yourself and reading the company's SEC filings. Please see ourTerms and Conditionsfor additional details, including our Obligatory Capitalized Disclaimers of Liability. Motley Fool Transcribershas no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has adisclosure policy.
Gold Weekly Price Forecast – Gold markets for massive shooting star Gold markets ralliedsignificantly over the course of the last week, continuing a parabolic run. By doing so, we shot towards the $1450 level that has since pulled back rather drastically. I think at this point, it’s very likely that we are going to break down from here, and a move below the $1400 level certainly should send more sellers into the marketplace. However, I see the $1350 level as supportive, so I think what we are more than likely going to see is an attempt to fill a daily gap down at that area. This doesn’t necessarily mean that I’m looking to sell this market, rather I think if you are patient enough you should be able to find plenty of reasons to start buying gold at lower prices. Keep in mind, the Federal Reserve is looking to cut interest rates and that should help gold longer-term. However, we’ve got a bit ahead of ourselves so simply waiting for an opportunity to take advantage of “cheap gold” is the way to go. Sometimes we are paid to sit on the sidelines and this may be one of those times. However, if we break above the top of the shooting star that could signal another parabolic run higher, as it would trap anybody who is short. I don’t expect that to happen, and quite frankly that would be very uncomfortable. All things being equal I think I will be looking to buy gold about $60 lower. Please let us know what you think in the comments below Thisarticlewas originally posted on FX Empire • USD/CAD Daily Forecast – Pair Rebounding from 3-Month Low amid Renewed Trade Hopes • EUR/USD Daily Forecast – Euro Drops Lower as the Dollar Recovers • While the Leadership Race Heats Up, Can Either Deliver on Brexit? • Are Real Estate ETF’S The Next Big Trade? • Traders unwinding G20 hedges, but can the good-will last? • Yuan Surges, Asian Assets Enjoy Time in the Sun on US-China Trade Talks Redux. But How Long Will it Last?
Silver Weekly Price Forecast – Silver markets form a neutral candle Silver marketswent back and forth during the week, ultimately forming a bit of a sideways candle. At this point, we are just above the 50 week EMA, so that’s a good sign but ultimately I think we are going to go higher anyway. With the Federal Reserve looking likely to cut interest rates going forward, it makes sense that precious metals will continue to gain and of course the US dollar fall. Beyond that, we also have a certain amount of safety when it comes to owning metals, and gold of course will lead silver going forward. To the downside, if we were to turn around and break down below the $15.00 level, that would be a very negative sign. I don’t see that happening but it’s always a possibility. I believe that the market is trying to find a reason to go higher it will find it soon enough. We could get negativity and fear coming out of the US/China trade talks as well, which of course resume this weekend in Osaka at the G 20. Ultimately, technically speaking and from a risk standpoint, it makes sense that the Silver markets, as well as gold markets, should continue to go higher. All of that being said, the reality is that silver futures contracts can be quite expensive and dangerous. Because of this, you may wish to use the CFD markets if you have the ability because it will allow you to scale your position size accordingly if you do not have the proper trading capital. Please let us know what you think in the comments below Thisarticlewas originally posted on FX Empire • Natural Gas Price Fundamental Daily Forecast – Needs to Hold $2.249 to $2.222 or New Lows Likely Over Near-Term • Are Real Estate ETF’S The Next Big Trade? • E-mini S&P 500 Index (ES) Futures Technical Analysis – July 1, 2019 Forecast • USD/CAD Daily Forecast – Pair Rebounding from 3-Month Low amid Renewed Trade Hopes • Gold Down Amid Trade Truce Between China and The United States • European Equities: The G20 Summit Sets the Majors Up for a Bounce
Eco Oro pulls out of Colombia gold concession amid legal battle: letter BOGOTA (Reuters) - Eco Oro Minerals Corp <EOM.CD> has pulled out of its Angostura gold concession in Colombia amid a legal battle with the Andean country over environmental restrictions the Canadian miner said made the project impossible, according to a company letter. The March 29 letter to the mining minister was disclosed by environmental group Comite Santurban in a tweet on Thursday. A spokesman for Eco Oro declined to comment. The mining ministry did not immediately respond to a request for comment. Eco Oro sued the government in 2016 after the project in Santander province was cut in half by a constitutional court ruling and new regulations that expanded wetland protections. It is seeking $764 million in damages in ongoing arbitration, saying it had invested some $250 million. Multinational miners looking to build large-scale underground projects in Colombia have struggled with a smorgasbord of legal, financial, environmental and community problems in recent years. Eco Oro is the second to fully pull out of a major project. The expansion of the boundaries of the Santurban high-altitude wetland and regulations approved by mining authorities have deprived Eco Oro of its right to mine the concession, the company said in the letter. "The impossibility of accessing the mineral resources made the Angostura project economically inviable for the company," the letter said. "Furthermore, there is still not certainty in relation to whether Eco Oro could develop the remaining areas of the concession outside of the preservation area of the wetland." The company will coordinate with the authorities to close down its operations at the site, it added. (Reporting by Julia Symmes Cobb; Editing by Richard Chang)
S&P 500 Weekly Price Forecast – S&P 500 struggling at the highs The S&P 500gave back some of the gains during the week as we ended up forming a relatively neutral candle. At this point, we are waiting to see what happens between the Americans and the Chinese so it’s almost impossible to imagine a scenario where you can predict what’s going to happen next without having that information. With that being the case, pay attention to whether or not we gap higher or lower at the open on Monday. Ultimately, this is a market that should continue to be very sensitive to the bantering back and forth coming from the Americans and the Chinese and will be trading based upon how the market interprets whatever comments come out of the two sides. Obviously, the 3000 level above is a major psychological barrier, but we could find ourselves breaking through there if we get some type of good news coming from Osaka. If we pull back from here, then we simply are going to reach towards the 2900 level, possibly the 2880 level initially. Below there, we could go looking towards the 2800 level. That would be a return to the range that we have been in. The market is skittish to say the least, I think longer-term traders are going to be at a bit of a disadvantage as it has been so choppy and quite frankly unless we get some type of decisive language out of American and Chinese officials. Please let us know what you think in the comments below Thisarticlewas originally posted on FX Empire • EUR/USD Mid-Session Technical Analysis for July 1, 2019 • USD/CAD Daily Forecast – Pair Rebounding from 3-Month Low amid Renewed Trade Hopes • European Equities: The G20 Summit Sets the Majors Up for a Bounce • EUR/USD Daily Forecast – Euro Drops Lower as the Dollar Recovers • Traders unwinding G20 hedges, but can the good-will last? • Markets Opened The Week With a Gap Up
Price Analysis 28/06: BTC, ETH, XRP, BCH, LTC, EOS, BNB, BSV, ADA, TRX The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk, you should conduct your own research when making a decision. Market data is provided by theHitBTCexchange. When an asset class jumps 275% within a span of six months, corrections are bound to happen. Bitcoin (BTC) witnessed one such violent correction on June 27. Fundstrat Global Advisers co-founder Thomas Lee said that the hyper volatility of bitcoin is anadvantageto the dedicated traders who can take advantage of the volatility and trade accordingly. However, for others, he advised a long-term approach. Galaxy Digital founder Mike Novogratz expects bitcoin tostabilizeand consolidate between $10,000 and $14,000. He believes that the arrival ofFacebook’sLibra will give confidence to the institutional traders to enter the space. Now, with Goldman Sachs CEO David Solomon confirming that the investment bank is looking attokenization, the institutions will have to take the plunge or risk being left behind. A rising volume in an uptrend indicates increasing demand. The volume of bitcoin traded on BitMEX jumped to$13 billionon June 26. Its CEO, Arthur Hayes said that the volume and open interest build shows that the bear market is officially over. What can one expect from the major cryptocurrencies going forward? Let’s look at the charts and analyze. Bitcoin reversed direction from $13,973.50 on June 26 and plunged to a low of $10,530.70 on June 27. That is a 24.63% fall within a day. The reason for such a sharp fall is that a vertical rally does not form any support levels en route. Hence, when the price starts falling, buyers do not step in until they spot a level that can act as a support. In this instance, buyers came in close to the 50% retracement of the latest leg of the rally. The 20-day EMA is located just below this level. In a strong uptrend, the corrections usually last anywhere between one to three days. Currently, the bulls are attempting to resume the uptrend. They might face some resistance at $12,000 and above it at $13,000 but the real test will be at $13,973.50. If theBTC/USDpair breaks out of this resistance, the momentum will continue. On the other hand, if the bears defend the overhead resistance, the pair might enter into a consolidation for a few days. On the downside, below $10,530.70, the next support is at $9,977.33, which is 61.8% Fibonacci retracement of the latest leg of the rally. If this support cracks, the digital currency will weaken and can drop to the 50-day SMA. Though Ether (ETH) had closed (UTC time frame) above $320.840 on June 26 and had completed a rounding bottom pattern, we hadsuggestedtraders to wait before buying. We wanted to recommend a trade on a successful retest of the breakout level. However, the fall on June 27 dragged the price back towards the 20-day EMA, which held. Currently, the bulls are trying to propel theETH/USDpair back above $320.840. If successful, it will be a positive sign. Both the moving averages are sloping up and the RSI is in the positive zone, which shows that bulls are in command. Therefore, traders can buy 50% of the desired allocation on a breakout and close above $320.840. The stop loss for this trade can be kept at $278. However, if the bulls fail to scale the overhead resistance, the bears will try to sink the price below the 20-day EMA. The next support on the downside is at the 50-day SMA and below it $224.086. Ripple (XRP) plummeted on June 27 and triggered our stop loss suggested in thepreviousanalysis. It is currently trying to find support at the trendline of the symmetrical triangle. If this support holds, the bulls will again try to propel it above the resistance line of the triangle. However, if theXRP/USDpair breaks down of the triangle, it will turn negative. Currently, the 20-day EMA has started to turn down and the RSI has dipped below 50. This suggests that the bears have the advantage in the near term. A drop below $0.35660 will turn the trend in favor of bears. Bitcoin cash (BCH) plunged on June 27 and broke below both the moving averages. Currently, the bulls are attempting to push it back above the 20-day EMA. If the price rises above the 20-day EMA, it can move up to $515.35. On the upside, the zone between $515.45 and the resistance line of the channel will act as a strong barrier. Conversely, if the bears sink theBCH/USDpair back below the 50-day SMA, it can correct to the support line of the channel. A breakdown of this support will indicate a change in trend. The 20-day EMA is flattening out and the RSI is just above 50, which suggests a balance between bulls and bears. We will wait for a buy setup to form before recommending a long position in it. Litecoin (LTC) dropped below the 20-day EMA on June 26 and triggered ourrecommendedstop loss mentioned in the previous analysis. It is currently attempting to bounce off the 50-day SMA. If successful, theLTC/USDpair will again try to move up to the resistance line of the ascending channel. On the other hand, if the bears sink the pair below the 50-day SMA, it can slide to the support line of the channel. A breakdown of this support will signal a change in trend. The 20-day EMA is turning down and the RSI has dipped below the midpoint. This suggests that the bears have the upper hand in the short term. Currently, we are neutral on the cryptocurrency. EOSdropped below the moving averages on June 26 and broke below the support line of the ascending channel the next day. In doing so, it triggered oursuggestedstop loss at $6.40. Currently, the bulls are trying to push the price back into the channel. If successful, the digital currency might move up to the moving averages. But if the bulls fail, theEOS/USDpair might turn down and plunge to the next support at $4.4930. The 20-day EMA is turning down and is on the verge of completing a bearish crossover, which is a negative sign. The RSI has also dipped into the negative zone. All these show that the bears have the upper hand. We do not find any reliable buy setup hence, we are not recommending a trade in it. Binance Coin (BNB) has been one of the strongest major cryptocurrencies. Even while other major cryptocurrencies plunged, it has held close to its 20-day EMA. This shows that the sentiment is to buy it on every dip. Currently, the bulls are trying to defend the 20-day EMA. If successful, a rally back towards the lifetime highs is likely. A new high will indicate resumption of the uptrend. Conversely, if theBNB/USDpair plummets below the 20-day EMA, it can correct to the 50-day SMA. A breakdown below the 50-day SMA will be the first indication that the trend might change. The negative divergence on the RSI is a warning sign that should be watched closely. Bitcoin SV (BSV) reversed direction from just above $240 on June 26 and broke below the 20-day EMA. Currently, the bulls are attempting to bounce off the support at $180. The 20-day EMA has flattened out and the RSI has dipped back to just above the midpoint. This points to a probable range-bound action between $175 and $255.620 in the short term. A breakout of the range will resume the uptrend that has a target objective of $307.789 and above it $340.248. If the bears sink theBSV/USDpair below the support of the range, a drop to the 50-day SMA is possible. Though Cardano (ADA) broke out of $0.10 on June 26, it did not close (UTC time frame) above the resistance. Hence, it did not trigger our buy recommendation given in thepreviousanalysis. The failure to break out of $0.10 attracted selling that dragged the price down to the 50-day SMA. The bulls are attempting to hold this level. If successful, theADA/USDpair might move back into the ascending triangle. It will pick up momentum on a breakout and close (UTC time frame) above $0.10. However, if the price fails to climb back up, the pair might correct to the next support of $0.077 and below it to $0.073. Tron (TRX) turned down sharply from $0.040 on June 26. The pullback plunged below the 20-day EMA on June 27. It is currently attempting to bounce off the 50-day SMA. The 20-day SMA is flattening out and the RSI has dipped below 50, which suggests consolidation in the near term. If theTRX/USDpair breaks below the 50-day SMA, it can drop to the uptrend line. A breakdown of this will indicate a change in trend. On the upside, $0.040 will continue to act as a stiff resistance. A breakout and close above $0.040 will indicate the resumption of the up move. We do not find any reliable trade setups at current levels, hence, we are not suggesting a long position in it. Market data is provided by theHitBTCexchange. Charts for analysis are provided byTradingView. • Price Analysis 26/06: BTC, ETH, XRP, BCH, LTC, EOS, BNB, BSV, ADA, TRX • Price Analysis 24/06: BTC, ETH, XRP, LTC, BCH, EOS, BNB, BSV, TRX, ADA • BTC, ETH, XRP, LTC, BCH, EOS, BNB, BSV, XLM, ADA: Price Analysis 19/06 • BTC, ETH, XRP, LTC, BCH, EOS, BNB, BSV, XLM, ADA: Price Analysis 17/06
Correction: Election 2020-Debate story MIAMI (AP) — In a story June 27 about the Democratic presidential debate, The Associated Press reported erroneously in some versions that former Vice President Joe Biden worked with Republican segregationist senators. In fact, the senators were Democrats. A corrected version of the story is below: Rivals target Biden as Democrats' rifts emerge on age, race Democratic debate part II: Sanders and the centrist Dems all assail Trump By JUANA SUMMERS and STEVE PEOPLES Associated Press MIAMI (AP) — Democratic divisions over race, age and ideology burst into public view in Thursday night's presidential debate, punctuated by a heated exchange between former Vice President Joe Biden and California Sen. Kamala Harris. It was one of several moments that left the 76-year-old Biden, who entered the night as his party's early front-runner, on the defensive as he works to convince voters he's still in touch with the modern Democratic Party and best-positioned to deny President Donald Trump a second term. "I do not believe you are a racist," Harris said to Biden before criticizing his record of working with Democratic segregationist senators on non-race issues as "hurtful." Biden called Harris' criticism "a complete mischaracterization of my record." He declared, "I ran because of civil rights" and later accused the Trump administration of embracing racism. The night marked an abrupt turning point in a Democratic primary in which candidates have largely tiptoed around each other, focusing instead on their shared desire to beat Trump. With millions of Americans peeking inside the Democrats' unruly 2020 season for the first time, the showdown revealed deep rifts eight months before primary voting begins. The showdown featured four of the five strongest candidates — according to early polls, at least. Those are Biden, Sen. Bernie Sanders of Vermont, Mayor Pete Buttigieg of South Bend, Indiana, and Harris. Massachusetts Sen. Elizabeth Warren, who debated Wednesday night, is the fifth. Story continues There are so many candidates lining up to take on Trump that they do not all fit on one debate stage — or even two. Twenty Democrats debated on national television this week in two waves of 10, while a handful more were left out altogether. Trump, who was attending the Group of 20 summit in Japan, still found time to weigh in on the debate and jab his rivals, claiming it didn't go well for Biden or Sanders. Trump tweeted Friday that he heard it was "not a good day" for them. The level of diversity on display on the debate stage was unprecedented for a major political party in the United States. The field features six women, two African Americans, one Asian American and two men under 40, one of them gay. Harris is the only African American woman to qualify for the presidential debate stage and showed she could land a forceful attack on rivals. Any of the three women featured Thursday night would be the first ever elected president. Yet in the early days of the campaign, two white septuagenarians are leading the polls: Biden and Sanders. Buttigieg, a 37-year-old gay former military officer, is four decades younger than Sanders and Biden and has framed his candidacy as a call for generational change in his party. He displayed a fluency on a range of policy issues and hit hard on efforts by Republican Trump to stifle the flow of illegal immigration at the Mexican border. "For a party that associates itself with Christianity to say it is OK to suggest that God would smile on the division of families at the hands of federal agents, that God would condone putting children in cages," that party "has lost all claim to ever use religious language," he said. The party's broader fight over ideology took a back seat at times to its racial and generational divisions, which also flared when the discussion turned to health care. Sanders, the self-described democratic socialist , slapped at his party's centrist candidates, vowing to fight for "real change." He raised his hand to indicate he would give up his private insurance coverage in favor of a government-financed plan. Most of the candidates on stage, including Biden, didn't join him. While many candidates, including Biden, embrace at least some version of Sanders' "Medicare for All" proposal , the former vice president also defended the role of private insurance, praising its role in the aftermath of the car accident that killed his wife and daughter and left his sons injured decades ago. Along with Medicare, Buttigieg defended private insurance, too, but he also said, "We can't just be relying on the tender mercies of the corporate system." Buttigieg's night was defined in part by trouble back home that has represented the most significant leadership test in his young political career. The fresh-faced mayor faced tough questions about a recent police shooting in his city in which a white officer shot and killed a black man. He said an investigation was underway, and acknowledged the underlying racial tensions in his city and others. "It's a mess," he said plainly, noting that such issues have plagued communities across America. "We're hurting." He sidestepped pointed calls to fire his police chief, calling instead for a time when white and black people would react the same way when confronted by police. Little-known California Rep. Eric Swalwell, who is just 38 years old, was among Buttigieg's chief critics. He also took a swipe at Biden's advanced age. Either Biden or Sanders would be the oldest president ever elected. "Joe Biden was right when he said it was time to pass the torch to a new generation of Americans 32 years ago," Swalwell jabbed. Biden responded: "I'm still holding onto that torch." Others on the stage Thursday night included Sens. Kirsten Gillibrand of New York, who tried to elbow her way into the packed debate at times, Sen. Michael Bennet of Colorado, New York businessman Andrew Yang and author and social activist Marianne Williamson. The showdown played out in Florida, a general election battleground that could well determine whether Trump wins a second term next year. Biden sought to sidestep the intraparty divisions altogether, training his venom on Trump. "Donald Trump thinks Wall Street built America. Ordinary middle-class Americans built America," he said, adding, "Donald Trump has put us in a horrible situation. We do have enormous income inequality." Biden downplayed his establishment leanings at times. Along with the other candidates on stage, he raised his hand to say his health care plan would provide coverage for immigrants in the country illegally. Former Colorado Gov. John Hickenlooper predicted that an aggressive lurch to the left on key policies would ultimately hurt Democrats' quest to defeat Trump. "If we don't clearly define we are not socialists, the Republicans are going to come at us every way they can and call us socialists," he warned. Their first round of debates is finished, but the real struggle is just beginning for most of the candidates. All will work aggressively to leverage their debate performance and the related media attention to their advantage in the coming days. There is a real sense of urgency for more than a dozen who fear they may not reach donor and polling thresholds to qualify for later debates. Should they fail to qualify, and many will fail, this week's debates may have marked the high point for their personal presidential ambitions. ___ Peoples reported from Washington. Associated Press writer Colleen Long in Washington contributed to this report.
French court rules that quadriplegic should be allowed to die STRASBOURG, France (Reuters) - A quadriplegic French patient, who has been in a vegetative state for more than a decade, should be allowed to die, France's top court ruled on Friday. The Cour de Cassation overruled an appeals court which last month had ordered doctors to keep Vincent Lambert alive, just 12 hours after medics had already switched off the man's life support against his parents' will. "This ruling removes the last legal obstacle to ending his treatment," Patrice Spinosi, the lawyer for Lambert's wife Rachel, told reporters. The 42-year-old former psychiatric nurse's fate has torn apart his family and sparked fierce nationwide debate over the right to die. His wife and some of his siblings say care should be withdrawn. But Lambert's Catholic parents, backed by other relatives, say he should be kept alive and have launched a series of legal bids to keep his care going. The new ruling means that the hospital in Reims, northeastern France, could now again stop the artificial feeding and hydration that have kept Lambert alive since a motorcycle accident in 2008. He has almost no consciousness, but can breathe without a respirator and occasionally moves his eyes. Euthanasia is illegal in France, but a 2016 a law allows doctors to put terminally ill patients into continuous deep sedation (CDS) by doctors until death. The law draws a distinction between euthanasia and CDS, making France the first country to legislate in such a way. Euthanasia is permitted in various forms in the Netherlands, Belgium, Colombia, Luxembourg and Canada, while assisted suicide, which involves a doctor helping a patient to end their own life, is permitted in several U.S. states. (Reporting by Gilbert Reilhac; Editing by Geert De Clercq)
Rory Stewart looks to launch campaigning organisation if he leaves Cabinet this autumn Rory Stewart was eliminated from the race to become the next Conservative party leader but impressed many with his candid road shows and clear debating style. Photo: Matt Dunham/AP International development secretary and former Conservative party leadership candidate Rory Stewart is set to continue his campaign to prevent a no deal and “unite” a Britain divided by Brexit, sources have told Yahoo Finance UK. The campaigns would materialise in the form an organisation if Boris Johnson leaves Stewart out of Cabinet on becoming the next prime minister as is widely expected. Discussions have occurred among Stewart’s top team about how to continue the momentum he had built during the leadership campaign, including discussions over whether senior staff would join and how the organisation or group would be set up. Stewart, who won plaudits for his grassroots campaign and divergent campaign strategy, is expected to be shunned by Conservative leadership frontrunner Johnson, if selected as leader of Conservative party. While Stewart’s team are said to be holding out for a foreign policy related role under a potential Hunt government (either continuing in international development or a potential promotion into the foreign office), plans are being prepared in case Stewart returns to the back-benches. One source close to the international development secretary underlined the plan for Stewart to “attack Boris [Johnson’s] lies over the reality of Brexit” and go to the places in the UK likely to be most affected by a hard Brexit, like Middlesborough. Stewart’s spokesperson was eager to state that he would not be fronting a single issue campaign over no-deal Brexit. Other sources close to Stewart have suggested that a future organisation would be a continuation of his “Rory walks series.” Stewart has been in discussions with a new research group fronted by Phillip Hammond, which is set to try and oppose a no-deal Brexit. Hammond, along with Dominic Grieve and Ken Clarke, is looking to set up a rival group to the eurosceptic European Research Group, but Stewart is not set to take a leading role within it.
Wayfair is just the latest example of brands getting burnt by politics Wayfair, the Boston-based online furniture retailer that went public in 2014, this week found itself squarely in the crosshairs of the fiercest political controversy of the moment: border detention camps. It started when more than 500 Wayfair (W) employeesdiscovered the company was selling bedsto BCFS, the contractor running the detention camps. In a letter to Wayfair leadership, the employees who signed said, “We believe that the current actions of the United States and their contractors at the Southern border do not represent an ethical business partnership Wayfair should choose to be part of,” and demanded, “We want to be sure that Wayfair has no part in enabling, supporting, or profiting from this practice.” The employees did not like Wayfair’s response, and on June 26 staged a walkout. CEO Niraj Shah sent a brief letter to employees that said, in part, “As a retailer, it is standard practice to fulfill orders for all customers and we believe it is our business to sell to any customer who is acting within the laws of the countries within which we operate... This does not indicate support for the opinions or actions of the groups or individuals who purchase from us.” In other words: Wayfair didn’t apologize, didn’t step back, and attempted to avoid taking any kind of political side. It did eventually announce it will donate $100,000 to the Red Cross. Some pundits see the entire scandal as unfair to Wayfair (“a depressing sign of our times” and the “politicization of every corner of American life,” theWall Street Journal editorial boardwrites), while others think Wayfair’sresponse is insufficientand unacceptable. Some consumers on social media are threatening to boycott. But it is increasingly difficult, once a company is caught up in a political debate, for the company to stay on the sidelines or sit on the fence. It has happened countless times over the past few years, and while the phenomenon predates the Trump presidency, many chalk up the increase in such instances to America’s current political divide. In 2019, “work is political,”saysBeth Monaghan, CEO of Boston-based strategy firm InkHouse. “And it’s easy for organizations to forget that that is true.” In the past two years, it hashappened to a slew of consumer brandsthat would normally never find themselves issuing political statements in any context: Tic Tac, after candidate Donald Trump was caught on tape saying he would pop a Tic Tac before kissing a woman without asking; Tiki, when white nationalists toted Tiki torches during the violent rally in Charlottesville, N.C.; Keurig, when it pulled its advertising from Sean Hannity’s program on Fox News, and Hannity fans responded by destroying their Keurig machines. It happened to Under Armour CEO Kevin Plank after hemade what he thought was an innocuous remarkabout Trump on CNBC shortly after Trump’s election: that having “such a pro-business president is something that is a real asset for the country.” Papa John’s, after its chairman John Schnatterblamed flat pizza sales on the NFL player protests, found itself labeled “the official pizza of the alt-right.” Of course, some brands have been getting political by choice, not by accident. Nike knew what it was doing when itlaunched a new ad campaign around Colin Kaepernick. Dick’s Sporting Goods surely anticipated the political response when ityanked assault rifles from its stores. And Bank of America this weekannounced it will stop financing private prisons and detention centers. Whether by choice or against their will, American companies are at the center of the political debate more and more—and need to prepare for that ahead of time. Too many companies, Monaghan says, act reactively, not proactively. Once consumers are already angry, embattled companies “go to their attorneys, and they don’t act like a human. If you work with human beings, you have to be aware of what are the hot-button issues in the news today.” The trend is only going to continue, Monaghan says—an easy prediction. “As long as we live in this polarized economy, we’re going to see it all the time.” — Daniel Roberts is a senior writer and on-air host at Yahoo Finance. Follow him on Twitter at @readDanwrite. Read more: Dunkin’ exec: ‘We are not Starbucks, we are not political’ German family that owns Krispy Kreme and Panera is reckoning with its Nazi past From Tiki to Tic Tac, Trump era has forced consumer brands into politics Under Armour has a Trump dilemma Uber, Airbnb CEOs walk a tightrope in Trump era
Inbetweeners star struggles to leave the house due to anxiety Photo credit: Jack Barnes - Channel 4 From Digital Spy The Inbetweeners ' James Buckley has admitted he struggles with celebrity life. He played the show's resident potty-mouth Jay Cartwright between 2008 and 2010. Out in public, he's still widely recognised amongst fans of the show – which we'd imagine can get pretty tiring after a while. Photo credit: Bwark Productions - Channel 4 Related: The Inbetweeners ' James Buckley thought he looked "a complete moron" as he discusses what went wrong for reunion show The actor recently opened up to The Daily Star about his anxieties caused by fame. "I think I'm getting closer and closer to never leaving my house again," he said. "If someone said to me: 'I would really like to be famous', I would say to them: 'You really don't.' "Because I'm struggling with it and I'm not even that famous. I'm not anywhere near Tom Cruise or Brad Pitt or someone like that, and I really, really struggle with it. It's something I find really difficult". Photo credit: Dave J Hogan - Getty Images Related: Inbetweeners star doesn't want to "ruin" the show "any more" after reunion special Meanwhile, James has also revealed a disturbing personal story which concerned a casual trip to the opticians turning into a horror-show. He explained: "I went to the opticians because my eyes are failing, one eye is going bad. The news that I got – which was worse than I could have ever imagined – is, 'That you've got a mite in both of your eyes.' "The optician saw my face straight away as he said it and went, 'It's not as uncommon as you think, loads of people have it'." Want up-to-the-minute entertainment news and features? Just hit 'Like' on our Digital Spy Facebook page and 'Follow' on our @digitalspy Instagram and Twitter account . ('You Might Also Like',) Animal Crossing New Horizons is finally announced on Nintendo Switch How to watch Amazon Prime on your TV, smartphone and tablet – and enjoy Good Omens online Nintendo to release two new Switch consoles this year
Migrant woman killed in fall from train in Mexico TACOTALPA, Mexico (AP) — An engineer shouted for the young migrant woman to hurry up and climb aboard the freight train or she'd be left behind. In her bright red tennis shoes, she quickened her pace and was the last to get on when it pulled out near Salto de Agua in Mexico's southernmost state of Chiapas. Hours later and about 27 miles (43 kilometers) to the west, the train stopped near the Tabasco state town of Tacotalpa and the woman hopped off to buy some cheese-stuffed rolls. When the train crowded with migrants began to move again, she hustled to clamber back aboard. But the train suddenly stopped and rolled back. She lost her grip and fell beneath its wheels. It dragged her 100 yards before jerking forward again in a thunder of shuddering steel. "The people were screaming there. They yelled at those in front to stop, to the engine, but the engine accelerated," said Catalina Leon Muñoz who lives alongside the tracks. Frank Manuel Murillo, a 27-year-old Honduran who spent half his life in Houston before being deported a year ago, had also gotten off the train to buy some water. "When I turned around she was hanging from those wagons on the train," he said Wednesday. "The train was running back, it hit so hard and she fell on the rails and then it cut her in half." The little-noticed death of 19-year-old Honduran Saily Yasmín Andino Andino — her identity confirmed by local officials — added to a notorious toll claimed over the years by a train known as "The Beast," a perilous stage on the migrant journey from Central America to the U.S. border. Many migrants over the past year had tried to avoid such dangers by joining caravans of hundreds or thousands who trekked openly across southern Mexico. Others bought bus tickets — or had Mexicans buy tickets for them — and traveled in relative safety. But the government has pressured bus companies to require identification when the tickets were purchased and people boarded. Foreigners without papers were not allowed on. Story continues The government's renewed crackdown on migration, spurred by threats of tariffs by U.S. President Donald Trump, has pushed many back to more risky strategies, often involving smugglers who sometimes pack migrants perilously into ill-ventilated truck trailers. Some, like Andino, risked a ride on the rattling train to advance though a remote stretch of southern Mexico with hopes of getting off and making their way by other means. But Mexican officials this week moved to squeeze that off as well. About 100 soldiers and immigration agents raided a train on Thursday and detained dozens of Central American migrants riding atop the cars. They detained another 500 in a series of raids at hotels, bus stations and highways. The government of President Andres Manuel Lopez Obrador said last week that it has completed the deployment of 6,000 National Guard members to regulate immigration along its southern border, with thousands more reportedly focused on restricting migration elsewhere in the country. While no security forces were in sight as hundreds of migrants clambered aboard the freight train in Palenque just after midnight or as it rolled through Tacotalpa Tuesday morning, immigration authorities raided it later that night, according to Murillo, who said he spotted the roundup and escaped. Two days later, Associated Press journalists saw the train roll to a stop in a rural area, and then soldiers climbed ladders to the top of freight cars shouting, "This is the army, you're surrounded!" Hundreds of migrants scrambled away through the brush, but the government said it detained 40. Train operators themselves long ago gave up trying to keep migrants off the train, overwhelmed and perhaps intimidated by the sheer numbers. Meanwhile 134 migrants were discovered in a crowded tractor-trailer abandoned along a highway in Veracruz state, according to a joint statement from several federal agencies. Soldiers and federal police found the trailer as people were trying to break the locks from inside to get out, it said. Some were dehydrated and had minor injuries. Mexico's 697-mile (1,122-kilometer) southern frontier with Guatemala and Belize has never been secured and little infrastructure exists to do so. Much of it is sparsely populated and remote. Most of those on "The Beast" had already walked three days from the Guatemala border to reach the train. It hadn't passed for several days, so a growing number of migrants waited along the tracks, camped in an adjacent park or in a nearby shelter. When it arrived, some piled into open gondolas, sheltered from tree limbs. Others crowded onto small platforms between boxcars, while still others opted for breezy but exposed rooftops in the suffocating 100-degree heat. Standing beside the train in Palenque Monday evening, Murillo had worried about an immigration raid on the train. "I'm a little scared," he said. "I don't want to get caught. I guess I'll just be ready to run," he said. He had made the trip a month earlier, but was caught by Mexican immigration authorities in the northern border city of Reynosa and deported back to Honduras. That time he made it across Mexico in six days, travelling by train to Mexico City and then by bus to the northern border. This time he had walked three days from the Guatemala border, circumventing highway checkpoints by hiking through the brush. Other transportation was not an option. "The combis (small buses), they don't take you over here because they're scared too," he said. "If you ask a taxi to take you over here they're going to tell you no, because they're scared too." When the train stopped for a couple hours Tuesday morning near the town of Salto de Agua, migrants climbed off to buy water. One man extended his cap to passing motorists asking for spare change. A cluster of young men pooled their coins and shared corn tortillas and a tin of sardines beneath a tree. When it began to lurch and groan into motion, migrants in the open gondolas pressed into manufactured shade under branches they had pulled from overhanging trees. They said they hadn't slept much during the overnight ride and the temperature was again rising toward triple digits. Andino was the last to climb aboard. __ Associated Press writer Amy Guthrie in Mexico City contributed to this report.
Explainer: U.S.-China trade talks: where they are and what's at stake (Reuters) - U.S. President Donald Trump and Chinese President Xi Jinping are due to meet on Saturday at the Group of 20 (G20) summit in Japan to try to resurrect a deal to end a costly trade war. Negotiations between trade teams from the world's two largest economies broke down in May when Washington accused Beijing of reneging on commitments to change its laws to enact economic reforms. Here is a look at the state of talks, the key issues and their implications: WHAT ARE POSSIBLE OUTCOMES OF THE G20 MEETING? After over a month with little contact, it's unlikely the two sides will make much headway on a trade deal at the summit. One possible outcome would be for Xi and Trump to agree to delay further escalation of the dispute while talks continue at the negotiator level. That would be a repeat of what was agreed when the two presidents last met at the G20 in Buenos Aires in 2018. U.S. officials have repeatedly said they want to avoid drawn out negotiations with China, however. THE STATE OF TALKS Trump did not agree to any preconditions for his high-stakes meeting with the Chinese president and is maintaining his threat to impose new tariffs on Chinese goods, White House economic adviser Larry Kudlow said on Thursday. Neither side has signaled it would shift from positions that led to the impasse last month, when Beijing revised a draft of the trade deal, removing references to changes in Chinese law. U.S. Trade Representative Robert Lighthizer said the changes substantially weakened the deal. Lighthizer has repeatedly called for a strong, enforceable deal. U.S. officials have said that the resumption of talks would depend on China returning to the original text. Lighthizer told a congressional hearing this month that China also backtracked on commitments on digital trade issues, including U.S. access to cloud computing services in China. China has downplayed its changes, and also said U.S. demands violate its sovereignty. Foreign ministry spokesman Geng Shuang said on Friday he hoped the U.S. side could meet China halfway. WHAT CONCESSIONS HAD BEEN AGREED AND WHAT WERE THE STICKING POINTS?Before the talks broke down, U.S. officials had said the two sides made progress on intellectual property protection and that China made proposals on a range of issues that went further than Beijing had gone before. For example, China for the first time discussed forced technology transfer as a widespread problem. China had previously refused to acknowledge that such coercion had existed to the extent alleged by the United States. U.S. companies complain they are pressured to hand over their competitive secrets as a condition for doing business in China. U.S. officials also said they had made progress on cyber theft, services, currency, agriculture and non-tariff barriers to trade. China had offered to bring subsidies in line with World Trade Organization guidelines but had not detailed how it would do that. For its part, the United States had watered down demands China end industrial subsidies, which would require a change in China's state-driven economic model. U.S. officials have said China offered to make purchases of over $1 trillion worth of goods over the next six years, including agricultural and energy products as well as industrial goods. China has said, however, that there is still disagreement between the two sides on the actual purchases. One of the key sticking points until talks broke down was the timeline for removal of the 25% tariffs on $250 billion worth of imported goods from China that the Trump administration has already imposed. The United States wanted to keep some tariffs in place to ensure that China met the terms of the deal, but China demanded all tariffs be lifted immediately. Another contentious issue was the plan for a regular review of China's compliance, a mechanism that would maintain the perpetual threat of U.S. tariffs. THE STAKES One of the biggest U.S. concerns is who will dominate future high-technology industries. China is determined to upgrade its industrial base in 10 strategic sectors by 2025, including aerospace, robotics, semiconductors, artificial intelligence and new-energy vehicles. Washington's demands for change follow years of steadily rising U.S. trade deficits with China and U.S. complaints that Beijing has systematically obtained American IP and trade secrets through coercion and outright theft. The USTR says China's subsidies to state enterprises, including at the provincial and local government levels, have also led to an unsustainable build up in industrial capacity in China - such as in steel - that has depressed global prices and hurt producers in the U.S. and elsewhere. U.S. officials argue that China's massive support for state-owned enterprises makes it hard for U.S. companies to compete on a market-driven basis. They say they do not have a problem with China moving up the technology ladder, but they do not want it to happen with stolen or unfairly obtained American know-how or in a market in which Chinese firms have an unfair advantage. HOW DOES BEIJING VIEW THESE COMPLAINTS? Chinese officials generally view the U.S. actions as a broad effort to thwart the Asian country's rise in the global economy. They previously denied China required or coerced technology transfers, saying that any such actions are commercial transactions between American and Chinese firms. Beijing says three main sticking points remain between the two sides in trade negotiations. They are the removal of tariffs imposed in the trade war, the scale of goods purchases from the United States that China will make to help reduce the trade imbalance between the two, and the need for a "balanced" text for any trade deal. China has pledged to buy more U.S. goods in the future to reduce the trade imbalance between the world's two largest economies, and has taken some steps to open up more markets to foreign competition. WHAT ACTIONS HAS THE UNITED STATES TAKEN? In addition to the tariffs on $250 billion worth of imported goods from China, Trump is preparing to extend tariffs to the remaining $300 billion of Chinese imports, and will be in a position to make a decision on implementing them after July 2, when a public comment period closes. Trump has also blacklisted China's Huawei Technologies Co Ltd, citing national security concerns. This effectively banned U.S. companies from doing business with Huawei, and many non U.S.-based global technology firms have since cut ties with the company, the world's largest telecommunications equipment maker. China has demanded the United States lift those restrictions, trade deal or no. The United States is lobbying other countries to reduce dealings with Huawei and threatened to blacklist other Chinese firms. HOW HAS CHINA RETALIATED? China has imposed tariffs of 25 percent on $110 billion worth of U.S. goods, including soybeans, beef, pork, seafood, whiskey, ethanol and motor vehicles. China has said it would draft its own list of foreign companies that it deems had harmed Chinese companies. That could serve as the basis for retaliation against U.S. companies for action against Huawei. China has also indicated it may strike back through limiting rare earth supplies to the United States. Rare earth are minerals important to manufacturers of high-tech consumer goods and China is the dominant supplier. (Writing by Simon Webb and Chris Prentice; Editing by Alistair Bell)
UFC on ESPN 3 weigh-in results: Ngannou and dos Santos ready to battle for shot at the belt Junior dos Santos vs Francis Ngannou UFC 215 UFC on ESPN 3 from Minneapolis, Minn., where top heavyweight contenders Francis Ngannou and Junior dos Santos try to find their way into a title fight, is set following Friday's official weigh-in. Ngannou (13-3) rocketed to the top of the heavyweight division by finishing all of his first six UFC opponents. He challenged Stipe Miocic for the heavyweight belt at UFC 220 early in 2018, but lost via a unanimous decision. Suffering a big hit to his confidence, Ngannou then lost to Derrick Lewis at UFC 226. Following back-to-back defeats, Ngannou returned to form with first-round knockouts over Curtis Blaydes and Cain Velasquez in a total time of one minute and 11 seconds. Having defeated a former champ in Velasquez, defeating another former champion in dos Santos would put him in prime position for another crack at the belt. Having lost the UFC heavyweight belt in 2012, dos Santos has twice challenged for the belt since then, but lost to Velasquez and Miocic. Currently riding a three-fight winning streak, dos Santos is also poised for another shot at the belt. A victory over Ngannou would likely seal the deal. As heavyweights, neither had trouble with the scale. Ngannou weighed in at 255.5 pounds, while dos Santos stepped on the scale at 249 pounds. The UFC on ESPN 3 co-main event features a fight in the flyweight division, a weight class that was thought to be on the brink of extinction, but one that UFC president Dana White recently stated would remain part of the roster. Perennial contenders Jussier Formiga and Joseph Benavidez square off in Minneapolis, looking to get the next shot at current flyweight and bantamweight dual-division champion Henry Cejudo. Formiga stepped on the scale at 125.5 pounds, while Benavidez weighed 126 pounds, making their contender bout official. TRENDING > Amanda Nunes on breaking Ronda Rousey, Cris Cyborg and Miesha Tate (UFC 239 video) UFC on ESPN 3 Fight Card Main Card (9 p.m. ET on ESPN) Story continues Francis Ngannou (255.5) vs. Junior dos Santos (249) Jussier Formiga (125.5) vs. Joseph Benavidez (126) Demian Maia (171) vs. Anthony Rocco Martin (170.5) Roosevelt Roberts (156) vs. Vinc Pichel (155.5) Drew Dober (156) vs. Marco Polo Reyes (155) Alonzo Menifield (204.5) vs. Paul Craig (204) Prelims (7 p.m. ET on ESPN) Ricardo Ramos (136) vs. Journey Newson (135.5) Eryk Anders (205) vs. Vinicius Moreira (206) Jordan Griffin vs. Vince Murdock — Fight Cancelled Jared Gordon (155.5) vs. Dan Moret (155) Dalcha Lungiambula (205) vs. Dequan Townsend (205) Emily Whitmire (115) vs. Amanda Ribas (115) Maurice Greene (256) vs. Junior Albini (266) Tune in Saturday, June 29, for UFC on ESPN 3: Ngannou vs. dos Santos full live results from Minneapolis, Minn., on MMAWeekly.com . Heavyweight contenders Francis Ngannou and Junior dos Santos square off in a five-round main event with the winner looking to get the next shot at the UFC heavyweight championship.
Why Shares of Progress Software Popped Today Shares ofProgress Software(NASDAQ: PRGS)jumped on Friday after the application development software provider reported second-quarter results that were ahead of analyst estimates. The stock was up about 11% at 12:40 p.m. EDT. Progress Software reported revenue of $100.0 million for the second quarter under generally accepted accounting principles (GAAP), up 8% year over year. On a non-GAAP basis, revenue was $103.5 million, up 11% year over year and about $5.3 million above the average analyst estimate. The company's results include a contribution from the acquisition of Ipswitch, which was completed during the second quarter. Image source: Getty Images. Non-GAAP earnings per share came in at $0.65, up from $0.55 in the prior-year period and $0.08 higher than analysts were expecting. GAAP EPS was $0.18, down from $0.28 in the prior-year period, with acquisition and restructuring-related expenses eating into the bottom line. Progress Software CEO Yogesh Gupta gave an update on the Ipswitch integration process: "I'm very pleased with the integration so far, and we are focused on achieving our targeted shareholder returns for this acquisition even earlier than we had anticipated. Our businesses are performing well, and we are on track to achieve our financial goals for 2019, including our increased guidance for margin and earnings per share." Progress Software expects to generate non-GAAP revenue between $109 million and $112 million in the third quarter, along with non-GAAP EPS between $0.68 and $0.70. For the full year, the company forecasts non-GAAP revenue between $422 million and $428 million and non-GAAP EPS between $2.52 and $2.57. Those earnings guidance ranges were slightly ahead of analyst expectations, giving investors another reason on top of the solid second-quarter results to bid up the stock. More From The Motley Fool • 10 Best Stocks to Buy Today • The $16,728 Social Security Bonus You Cannot Afford to Miss • 20 of the Top Stocks to Buy (Including the Two Every Investor Should Own) • What Is an ETF? • 5 Recession-Proof Stocks • How to Beat the Market Timothy Greenhas no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has adisclosure policy.
Kamala Harris sells 'That Little Girl Is Me' T-shirts Kamala Harris is selling “That Little Girl Was Me” T-shirts hooked to her explosive desegregation comments at the Democratic debate on Thursday night. But the merchandise is being perceived by some as a cheap move. The California senator confronted former vice president Joe Biden on Thursday night for his “civil” relationship with late senators James Eastland and Herman Talmadge, who were both segregationists . “Well guess what? At least there was some civility,” Biden reportedly said last week of his working relationship with the men. “We got things done. We didn’t agree on much of anything. We got things done. We got it finished. But today, you look at the other side and you’re the enemy. Not the opposition, the enemy. We don’t talk to each other anymore.” Kamala Harris us selling “That Little Girl Was Me” T-shirts in reference to desegregation busing. (Photo: KamalaHarris.org) But Harris told Biden at the debate, “Vice President Biden, I do not believe you are a racist. I also believe—and it's personal...it was hurtful to hear you talk about the reputations of two United States senators who built their reputations and career on the segregation of race in this country. It was not only that, but you also worked with them to oppose busing.” She said, “And you know, there was a little girl in California who was a part of the second class to integrate her public schools, and she was bused to school every day. And that little girl was me. So I will tell you that, on this subject, it cannot be an intellectual debate among Democrats. We have to take it seriously.” View this post on Instagram A post shared by Kamala Harris (@kamalaharris) on Jun 27, 2019 at 9:40pm PDT On Friday morning, Harris’s campaign website was selling a black T-shirt with an imprint of the candidate as a school girl ( ranging in price from $29.99 to $32.99). But the move came off to some – including Harris’s followers – as tacky. “Hmmmm man I was like so about her at the debate tonight and everything felt and seemed so authentic and then I come on here and she already has this t-shirt ready to sell,” wrote an Instagrammer. “This just made me mad uncomfortable. Like I legit just second guessed wanting to vote for her after seeing this lol.” Story continues Another commenter agreed. “Kamala you should have waited at least a few days lol. WAY too soon. It makes your sentiment seem orchestrated. Come on Harris team!” Others said Harris should pace her success and that the T-shirt was too expensive. “Merch already? That was quick...” and “Kamala, you’re gonna make me broke.” A person wrote that the move diminished Harris’s argument. ”Kamala—commercializing what I (and probably many others) believed to be a beautifully emotional/off the cuff comment to Joe Biden so soon afterwards makes your thoughtful words seem hollow and calculated. Please don’t give anyone reason to believe you’re disingenuous!! Please do better than this.” However, Harris will probably have some buyers — “Or her team is sharing the emotions of last night,” wrote a follower. “Her statement is timely in talks about race. Jim Crow wasn’t that long ago. Powerful photo and T-shirt.” Read more from Yahoo Lifestyle: Tulsi Gabbard's sister slammed for complaining about Democratic debate: 'Put on your big girl pants' Melania Trump is noticeably absent from the G-20 summit photos: ‘Was she at the spa?’ Andrew Yang appears without a tie during Democratic debate, and people have some feelings Follow us on Instagram , Facebook , Twitter and Pinterest for nonstop inspiration delivered fresh to your feed, every day.
USWNT lineup vs. France: Lindsey Horan on bench for World Cup quarterfinal Jill Ellis and the U.S. women's national team meet France in the World Cup quarterfinals on Friday. (Getty) The United States will be without one of its best players when it kicks off against France in a blockbuster Women’s World Cup quarterfinal on Friday (3 p.m. ET, Fox). But not because she’s injured. Not because she’s suspended. Nope, Lindsey Horan will be on the USWNT’s bench because of a coach’s decision. U.S. manager Jill Ellis, for the second consecutive game , left Horan – the 2018 NWSL MVP – out of her starting lineup. Here’s the U.S. 11, which is identical to the 11 Ellis rolled out against Spain in the Round of 16 : U.S. vs. France starting lineups Back to front, right to left, 4-3-3 formation: Alyssa Naeher; Kelley O'Hara, Becky Sauerbrunn, Abby Dahlkemper, Crystal Dunn; Rose Lavelle, Julie Ertz, Sam Mewis; Tobin Heath, Alex Morgan, Megan Rapinoe. For our Nation For the 🔴, ⚪️ and 🔵 For U.S. all. Lineup Notes: https://t.co/Swf85Gglmd #OneNationOneTeam pic.twitter.com/B2sgyUmQ9y — U.S. Soccer WNT (@USWNT) June 28, 2019 And here is France’s starting lineup: La composition de l'Equipe de France !! #FRA #FiersdetreBleues #FRAUSA 🇫🇷🇺🇸 pic.twitter.com/M9uCUg2Gmz — Equipe de France ⭐⭐ (@equipedefrance) June 28, 2019 Lindsey Horan’s controversial exclusion On the surface, benching Horan is ridiculous. The 25-year-old won the NWSL’s 2018 MVP award with a season unlike any the league had seen before. She is considered by many the USWNT’s best player , and a top-three midfielder in the world. Her vast skill set – from the goal-scoring to the duel-winning to the chance-creating – seemingly would seemingly her undroppable. Statistically , she’s actually a better tackler than tackling-extraordinaire Julie Ertz and a better progressive passer than playmaker Rose Lavelle. Story continues But the Ertz-Lavelle-Mewis threesome was superb against Spain in the Round of 16. They were arguably the three best players on the field. Ellis could not have possibly picked an uncontroversial starting 11 on Friday. Her alternatives would have been second-guessed as well. To make room for Horan, she either had to: Bench one of Lavelle and Mewis, both of whom are playing the best soccer of their lives, and who have been the USWNT’s two best players at this World Cup. Bench Julie Ertz, who is one-of-a-kind and arguably the USWNT’s most important player. Move Ertz to center back – a position she hasn’t played regularly in a few years – and bench Becky Sauerbrunn, the team’s most experienced defender. There was rationale for any of those three moves. There is also rationale for this one. As always, however, Ellis will be crucified if the U.S. loses. She won’t get any credit if they win. Such is the life of an elite coach. – – – – – – – Henry Bushnell is a features writer for Yahoo Sports . Have a tip? Question? Comment? Email him at henrydbushnell@gmail.com, or follow him on Twitter @HenryBushnell , and on Facebook .
How George and Amal Clooney Do Date Night in Italy The glamorous, globetrotting Clooneys are currently summering in Italy. (Region not specified, because they’ve been to multiple fabulous locales in the Mediterranean nation.) First, they went to their villa in Lake Como, where they entertained Barack, Michelle, Malia, and Sasha Obama. The group even took out a speed boat to cruise around Cernobbio. Per People , they also journeyed to Villa d’Este. The grand property, built in 1568 as a resplendent retreat for Cardinal Tolomeo Gallio, is the most famous hotel in the region. The interiors are adorned with Renaissance style furniture and decor, and the crown jewel of its grounds is a Baroque garden. (Once upon a time, it was the setting for Tom Cruise and Katie Holmes’s wedding.) Next, it was on to Venice , where they had a set of romantic evenings. The duo went on a helicopter ride above the city, and looked effortlessly chic while doing so: Amal wore a white, off-the-shoulder shift dress with a black wide-brimmed hat, and George wore a navy blue polo and aviators. On Wednesday night, they ate dinner at Ristorante da Ivo . The restaurant off of St. Mark’s Square serves classic Italian fare like spaghetti with clams, veal ossobucco, grilled prawns over rice, and a healthy selection of gelato. The city is one of special significance for the couple. In 2014, they wed at the luxurious Aman Canal Grande. The 16th-century Papadopoli palazzo is perched right upon Venice’s signature waterway. The Clooney’s summer vacation is always one to envy. Last year, they hosted Prince Harry and Meghan Markle at their Como estate, Villa Oleandra, where George and Harry reportedly played basketball. At night, it’s said a gala dinner was held for the Sussexes. See the videos. Originally Appeared on Vogue
Sale Alert! Instant Pot, KitchenAid, and More Are Majorly Marked Down During Walmart’s 4th of July Sale July 4th is just around the corner, and you bet we’re planning our grilled-everything menus and staking out the best firework spots. But don’t forget one of our favorite holiday traditions: shopping the frenzy of sales from sea to shining sea! And if you’re looking for the best of the best Independence Day deals, head straight to Walmart . From now until July 7, the retail giant is offering can’t-miss discounts in almost every department, including on some of our favorite kitchen gadgets and appliances. Get 40 percent off the roomy 6-quart Instant Pot , now just $59 (originally $100), or save $70 on a gorgeous KitchenAid Deluxe Mixer (a steal at $209). We’d keep going, but this massive sale covers literally thousands of home goods, kitchen gadgets, and electronics — and they won’t last long! Browse through the entire event here , or scroll through some of the best kitchen buys we’ve found below. Instant Pot LUX60 6-Quart Programmable Pressure Cooker Walmart To buy: $59 (originally $99); walmart.com KitchenAid Deluxe 4.5-Quart Silver Tilt-Head Stand Mixer Walmart To buy: $209 (originally $279); walmart.com Farberware 3.2-Quart Digital Oil-Less Fryer Walmart To buy: $51 (originally $69); walmart.com 11-Piece Magic Bullet Multi Function Blender Walmart To buy: $30 (originally $50); walmart.com Cuisinart Elemental 8 Cup Silver Food Processor Walmart To buy: $79 (originally $100); walmart.com Gotham Steel Smokeless Electric Grill with Non-Stick Surface Walmart To buy: $50 (originally $68); walmart.com Cuisinart ICE-21 1.5 Quart Frozen Yogurt-Ice Cream Maker Walmart To buy: $42 (originally $60); walmart.com 18-piece Rubbermaid Brilliance Food Storage Container Set Walmart To buy: $20 (originally $30); walmart.com
Sell-Side Weighs In On Accenture's 'Steady' Quarter Accenture Plc(NYSE:ACN) on Thursday reportedfiscal third-quarter results, which came in better than expected with a positive revision to 2019 guidance. The Analysts Citi'sAshwin Shirvaikarmaintains a Buy rating on Accenture with a $211 price target. BMO Capital Markets'Keith Bachmanmaintains at Market Perform, with a price target lifted from $185 to $195. Citi: 'Good Headlines' Accenture's "good headlines" report was accompanied with the "customary" upward revision to guidance, Shirvaikar wrote in a note. The report showed improvements in prior soft segments like European banking/capital markets and U.S. federal. Other positive readouts from the report include robust demand for "The New" business, the overall demand environment remains positive based on management's commentary and cash flow was "solid." A couple negative readouts include contraction in the European financial services continues to contract and attrition moved higher. BMO: 'Mostly Steady' Accenture's report was "mostly steady" highlighted by 3.8% year-over-year increase in revenue while weak signings could be a function of timing and not demand issues in the company's pipeline, Bachman wrote in a note. Signings is a "lumpy" metric, especially in the outsourcing universe and it is possible for the fiscal fourth quarter to show "strong" signings. View more earnings on ACN It's likely investors "wanted more" from the report, but Bachman said it was still a "net positive" quarter. Accenture remains well positioned to grow signings in the coming quarters given its best-in-class status within a heavily competitive environment. Price Action Shares of Accenture traded around $183.91 at time of publication. Related Links: Accenture Ticks Lower Despite Q3 Earnings Beat 5 Stock Picks From The Top-Rated TipRanks Analyst Photo credit: Michael Gray, Flickr Latest Ratings for ACN [{"Jun 2019": "Jun 2019", "": "", "Maintains": "Maintains", "Neutral": "Buy"}, {"Jun 2019": "Jun 2019", "": "", "Maintains": "Maintains", "Neutral": "Outperform"}] View More Analyst Ratings for ACNView the Latest Analyst Ratings See more from Benzinga • A Walgreens Analyst's Takeaways From Q3 Earnings • Conagra Analysts React To Q4 Miss: 'We View These Issues As Temporary' • What To Expect From The Trump-Xi Meeting © 2019 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Meet The Vixen, the fearless drag queen whose activism is revolutionizing drag Behind the Dragaims to showcase the off-stage lives of some of America's most talented drag queens. The intimate series gives us the opportunity to meet the people behind our favorite over-the-top drag queens. Come back every Friday this summer to meet someone new! "It's very important to speak your mind and to exercise your right to put yourself out there. Because if you live your life [internally], when you die, no one will really know who you are or what you're about," The Vixen said. Anthony Taylor from Chicago, also known as The Vixen, is known and often celebrated for speaking up, especially when it comes to being black in the world of drag. While on Season 10 of "RuPaul's Drag Race," The Vixenconfronted the issue of raceon the show and within the audience head on with Ru. Now, The Vixen continues to celebrate black women in her long running show comprised of black drag queens—male, female and transgender. "I use my show, Black Girl Magic, to uplift [black women], celebrate them, and also give them a space to be exactly who they are without pandering to anything else," she said. The show is held at Roscoe's in Chicago's Boystown, an area which The Vixen said was previously a very segregated area. And that makes it all the more special. "To have a show that celebrates black drag queens in the heart of an area that used to be very controversial and not very open minded is progress," Taylor said. Anthony Taylor wasn't always this fearless force though, he admitted. "The Vixen is powerful, aggressive, a feisty, feisty person," he said, adding that "being The Vixen has really allowed me to tap into a personality that I didn't think I had. I've always been a little bit afraid to speak out. In the beginning, I thought drag queens weren't allowed to say this. I thought I, as a black kid, wasn't going to be able to speak out or make a difference in these ways."He says drag queens are a "beacon of adversity," calling on their strength back in the day to go outside in a wig and heels, and make themselves not only visible, but a target. Today, The Vixen believes drag can and should be enjoyed by everyone. "Regular people can look at drag queens and get that confidence and say, 'you know what? I just need to go out because there's a good time being had without me,'" The Vixen said. "I hope people leave my show feeling like I can do anything."
Final Hobbs & Shaw trailer starring The Rock, Jason Statham, Vanessa Kirby Black Superman meet your Samoan Kryptonite. While Idris Elba’s super-strong bad guy dominated the last trailer for the upcoming Fast & Furious spinoff, Hobbs & Shaw , Dwayne Johnson and Jason Statham get plenty of hero moments in the just-released final teaser before the movie’s Aug. 2 release date. But even the sturdy Rock and agile Statham appear unprepared for the force of nature that is Vanessa Kirby. The actress plays Deckard Shaw’s sister Hattie, and she makes a big impression on family frenemy, Luke Hobbs. “Your sister is one of the toughest, baddest, most capable women I’ve ever encountered,” the U.S. strongman tells the British mercenary, who doesn’t seem too thrilled with the idea of gaining a brother-in-law. (Watch the trailer above.) Or maybe Shaw is just annoyed because there’s not a lot of time for romance. After all, the unlikely trio of Deckard, Hattie and Luke are busy trying to stop next-gen villain Brixton Lore (Elba) from deploying a lethal virus. It’s a mission that takes the heroes from the London streets to the Hawaiian wilderness, where the Shaw family meets the Hobbs family. (Johnson’s cousin and fellow WWE star, Leati Joseph Anoaʻi aka Roman Reigns, plays one of his onscreen brothers.) And if Lore isn’t scared of a solo Hobbs, an army of Hobbses makes for a formidable foe. “You’re gonna get one Samoan ass-whuppin’,” promises Luke’s mom (Lori Pelenise Tuisano). After a summer filled with mostly disappointing blockbusters, moviegoers must be hoping for Hobbs & Shaw to ride to their rescue. It helps that the film is being directed by action expert David Leitch, who co-directed the first John Wick film and went on to make Atomic Blonde and Deadpool 2 . And the Fast & Furious brand name still carries plenty of juice: Fans cheered the news that production on the ninth film in that franchise started filming this week , with Justin Lin back behind the camera where he belongs. Me after watching the trailer #HobbsAndShaw pic.twitter.com/ep3wt93MXT — Edward Sanchez (@edwardistheman) June 28, 2019 THIS MOVIE LOOKS LIKE pic.twitter.com/yb7CGqOBP4 — NETFLIX NATE (@NateonNetflix) June 28, 2019 So #HobbsAndShaw already has Idris Elba playing "Black Superman" but they also gave him a robot motorcycle? Movie of the year. — Ryan George (@XenoIrish) June 28, 2019 The new and final trailer is now MILLION times better than the previous two trailers that I saw and this looks promising! I got Atomic Blonde vibes from this for some reason and do hope it’s as good as Deadpool 2! #FastAndFurious #HobbsAndShaw — 🦊 (@ruby_and_winnie) June 28, 2019 If #HobbsAndShaw don’t kiss at the end, what is their movie even for? — 🖤💜Elizabeth Vail 💜🖤 (@AnimeJune) June 28, 2019 Hobbs & Shaw opens in theaters on Aug. 2. Visit Fandango for tickets and showtimes information. Story continues Read more from Yahoo Entertainment: Twitter is losing it over Kristen Stewart in the new 'Charlie's Angels' trailer: 'A work of art in motion' Jake Gyllenhaal on almost playing Spider-Man and what he learned from 'Prince of Persia' Why Himesh Patel auditioned for 'Yesterday' with a Coldplay song – and what The Beatles think of new film that imagines they no longer exist
This startup is letting people fly drones remotely all over the world for just $7 Sometimes, you want to get away but don’t have the time. Now, there’s a startup for that. FlyThere, a new startup that lets people remotely fly drones all around the world from their own laptops for about $7 a flight, is branding itself as a quick way to travel without actually traveling. “You can experience the world in a truly immersive way through the eyes of a drone,” FlyThere CEO Tal Fromchenko told Yahoo Finance’s YFi PM. “We have drone operators standing by in the most exotic locations — places like Thailand, Bali, Brazil — waiting for our users to remotely pilot these drones in real time.” The platform, which lets drone owners in exotic countries leverage their own expensive drones to get paid, launched its beta in October 2018 and has been fully operational as of its June launch. Fromchenko says FlyThere racked up more than 10,000 total flights during its testing period thanks in large part to word of mouth from customers who, like Fromchenko, might have otherwise not been able to explore new areas. “Recently, my first child was born and that made traveling a bit more challenging,” he said, explaining the impetus for the idea. “FlyThere is my getaway now.” Part of FlyThere’s initial problem was convincing people that they could actually fly a drone from their laptop on the other side of the world in real time. “You have no idea how many users told us this was a fraud,” Fromchenko says, “and then they try it and say, ‘Woah.’” As someone who has never flown a drone, I was curious to see how involved controlling a drone thousands of miles away might actually be. To answer that, we decided to put FlyThere to a live test. After creating an account, users can sign up for a monthly subscription or buy credits on a per-flight basis. A five minute flight averages about $7.50. Drone operators list their flight availability for different hours and after about a three minute waiting period, I’m matched with a drone owner in Cancun, Mexico, named Yair. According to Fromchenko, drone operators are paid a day rate to be available to launch FlyThere customer flights and be there on the ground to supervise flights. The company has a contract with each operator and the rates are confidential. “They will make sure you stay safe,” he says. “Ultimately, it’s their equipment. They are the [legal] operator.” With a wave of his hand on the impressive live video feed, Yair let’s me take the controls. Admittedly, it took a couple of minutes to learn how the keys on my keyboard were moving the two-pound drone flying above Cancun traffic, but eventually I get the hang of it. Flying a little too close to people at a nearby water park elicits a warning from Yair. “You can’t fly over people so maybe be a little careful over there,” he tells me. Based on feedback, FlyThere recently added the ability to take pictures and record a full flight. Just as I snap a couple shots of dolphins by the beach, Yair lets me know my time is up before resuming control for the landing. Overall, the experience of flying a drone thousands of miles away from my desk in real time is incredibly impressive. The latency is nearly non-existent, which Fromchenko says was critically important to replicate the feeling of normally flying a drone. As another revenue stream, the hope is that others might want to passively watch live flights as well. “We’re now working strongly on the ability to broadcast your flight,” he says. “Sort of like Twitch on steroids.” Outside of consumer-use cases, FlyThere is also pitching investors on more business applications as well, including resort tours for prospective customers looking to book travel and stadiums potentially live streaming pre-game festivities. For now though, Fromchenko is focused on adding more and more locations and drone operators to the list of sites across Argentina, Brazil, Mexico, Indonesia, Thailand, Bali and Brazil. “We want to tap into the gig economy and let anyone with a drone operate and make money flying,” he says. Just don’t make the mistake of labeling his company “the Uber of drones,” Fromchenko jokes. “It doesn’t sound as good if I pitch it as the Uber of drones.” Yahoo Finance’sMcKenzie Stratigopouloscontributed to this report Zack Guzman is the host ofYFi PMas well as a senior writer and on-air reporter covering entrepreneurship, startups, and breaking news at Yahoo Finance. Follow him on Twitter@zGuz. Read more: Why the Farm Bill could make 2019 the year of CBD The Farm Bill could end the multimillion dollar industry of cockfighting One of the largest CBD company’s CEO is stealthily backing a hemp plastics startup
Apple Will Move Production of Mac Pro to China Amid Trade War (Bloomberg) -- Apple Inc. will manufacture its new Mac Pro computer in China, moving production of what had been its only major device assembled in the U.S., according to a person familiar with the company’s plans. The company will use Quanta Computer Inc. to make the $6,000 desktop computer and is ramping up production at a factory near Shanghai, according to the person, who asked not to be identified speaking about Apple’s decision-making. The Wall Street Journal earlier Friday reported the manufacturing move. The news comes as China and the U.S. are embroiled in a trade war, with the Trump administration having imposed billions of dollars in tariffs on Chinese-made goods, and threatening more tariffs that would hit Apple products. Chinese President Xi Jinping and U.S. President Donald Trump are scheduled to discuss the tariffs at a highly anticipated meeting Saturday during the Group of 20 summit in Japan. Trump has called out Apple specifically in the past asking it to move more of its production from China to the U.S. Apple shares fell less than 1% to $198.35 at 1:34 p.m. in New York. The iPhone maker announced late Thursday that Jony Ive, its chief designer associated with the company’s iconic products including the smartphone, Mac computer and Apple Watch, would soon be leaving the company. “Like all of our products, the new Mac Pro is designed and engineered in California and includes components from several countries including the United States,” Apple said in a statement. “We’re proud to support manufacturing facilities in 30 U.S. states and last year we spent $60 billion with over 9,000 suppliers across the US. Our investment and innovation supports 2 million American jobs. Final assembly is only one part of the manufacturing process.” By producing the Mac Pro at Quanta’s facility, which is close to other Apple suppliers around Asia, it will allow Apple to take advantage of lower shipping costs than if it shipped components to the U.S., the Journal said. For the last Mac Pro introduced in 2013, Apple Chief Executive Officer Tim Cook made a show of manufacturing the computer in Austin, Texas, as part of the company’s $100 million Made-in-the-USA push. Apple announced late last year it would invest $1 billion to expand its operations there with a new employee campus. But the Mac Pro caused production headaches, which slowed manufacturing and constrained Apple’s ability to make enough computers to meet demand. Three years later, some Apple engineers raised the possibility of moving production back to Asia, where it is cheaper and manufacturers have the required skills for ambitious products, a person familiar with the discussions told Bloomberg at the time. The Mac Pro is Apple’s lowest-volume product, however the decision on where to make it comes at a particularly sensitive time. For more than a year, Apple avoided major damage from the U.S. trade war with China, thanks in part to a White House charm offensive by Cook. But the recent round of tariffs proposed by the U.S. includes mobile phones, such as the iPhone, Apple’s most-important product that is made almost entirely in China. Laptops and tablets may also be encumbered with the 25% import levy. Cook urged the Trump administration not to proceed with the latest round of tariffs, saying it would reduce the company’s contribution to the U.S. economy. Apple spent decades building one of the largest supply chains in the world. The company designs and sells most of its products in the U.S., but imports them from China after assembly. That makes it one of the most exposed companies to tariffs. The company may also be evaluating moving some production out of China to elsewhere in Asia, according to a recent Nikkei report. To contact the reporter on this story: Mark Gurman in San Francisco at mgurman1@bloomberg.net To contact the editors responsible for this story: Tom Giles at tgiles5@bloomberg.net, Andrew Pollack, Molly Schuetz For more articles like this, please visit us atbloomberg.com ©2019 Bloomberg L.P.
5 Pro Gardeners Share Their Tips for a Thriving Backyard This Summer The development of agriculture is viewed as a crucial turning point, with the ability to grow domesticated plants for food sparking the birth of human civilization itself. As such, it can be really, really frustrating when you can’t even get your simple backyard garden to produce. After all, if some guy in ancient Mesopotamia managed to grow fields of wheat and barley despite having no earthly clue what a “tractor” is, why can’t you get these stupid tomatoes to sprout no matter how many YouTube videos you watch? Not to mention, with your total bill for fertilizer, seed, plants and equipment starting to run into the thousands, your picture-perfect yard is proving to be pretty expensive. Fortunately for you, getting that yard that’s the envy of the entire neighborhood doesn’t have to be difficult or expensive. In fact, if you’re ready to work with your yard and not against it, a lot of great tips can create a perfect storm of saving money, getting better results and practicing more ecologically sound gardening that will keep your soil healthy year after year. So, here are some tips from professional gardeners about how you can get the backyard you want this summer without breaking the bank. While most people’s image of the perfect, Norman Rockwell-style suburban home includes an immaculate green lawn, it’s a choice that’s aesthetically a little boring and has proven to have serious environmental consequences over time. “Many yard-owners have been sold on the myth of the perfect lawn as solid grass that is always green, always weed-free, no matter what,” said Dr. Linda Anderson, Master Gardener and co-founder ofUrbandale Farm— a Lansing, Michigan-based urban farm. “The myth of the perfect lawn leads to excessive fertilization (which leads to runoff of nutrients into the water — think ‘dead zone’ in the Gulf of Mexico); excessive water use (think depletion of water tables in drought-prone parts of the country); a decrease in biodiversity (think about the die-off of pollinators and evolution of invasive plant species); and frequent mowing (think air pollution by gas mowers). ‘Perfect’ lawns are contributing to the destruction of the environment,” Anderson said. One solution from Anthony Smith, owner ofNursery Enterprises, is as delicious as it is simple: Plant brambleberry bushes. The raspberries or blackberries from your backyard will be fresher and tastier than anything you’ll find at the grocery store, not to mention free once the bushes are in. “Some of the most nutritious, enjoyable, and expensive foods at the grocery store are brambleberries,” said Smith. “Don’t let the mystique of brambleberries intimidate you; they can be grown almost anywhere in our entire country — for cheap! And they can be grown successfully in as little [as] one square foot in the ground. They are perennials, so that means they will continue living year after year. They need annual trimming and fertilizer, but beyond that, if you choose a variety that won’t sucker, then they will be a rewarding and relatively simple addition to your garden. The fresh berries from your garden are much [tastier] than those from the market; they won’t be bruised, and you’ll pick them at the peak of perfection, not when they’re still unripe.” While it’s easy to fixate on the grass in your lawn, the plants themselves are only one part of the story. Your soil will play a huge role in your success with any gardening, so be sure you’re thinking about how healthy your dirt is before you start blaming the grass. “You can still have a lush green lawn without adding to environmental degradation,” said Dr. Anderson. “The key is to feed the soil, not the grass. If you have a limited budget, spend your money on compost (decomposed organic matter — anything once living that has broken down into ‘black gold’ that looks like soil). Or buy organic fertilizers that will stay in the soil longer than chemical fertilizers, less likely to run off into our precious water sources. Aerate the soil every year or so by renting a machine that will remove small cores of soil to allow better penetration of air and water. Or, pay a lawn company to do this, but don’t succumb to their sales pitches for chemical fertilizers and pesticides.” While the plant life is what most yards will feature, don’t forget that some tasteful structures can also play an important role in creating the outdoor space you desire — especially when they compliment the plants you’re growing. “A beautiful pergola, canopy, gazebo or arch will become your yard’s focal point,” said Margaret Williamson, a New Orleans florist and owner ofLeaf + Petal. “They can also serve as interesting and creative planters and trellises that your flowers and vines can grow on.” It’s good to remember that the grass in your lawn is fighting for its share of the water, air, sun and nutrients in the soil with other plants. So, taking action to boost the prospects for the plants you do want can be the best way to get rid of the ones you don’t. “If you want fewer ‘weeds,’ help your grass be a better competitor by seeding more grass on top of that compost you have added to improve the soil and after you have aerated,” said Dr. Anderson. “Once seeded, keep it moist until it has sprouted. The best time to do this is fall or spring, not mid-summer.” Up Next:My Tips for Saving the Planet — and Money While some might insist the only way to keep your lawn looking great is with pricey treatments or chemicals, there’s a lot you can accomplish with just a simple rake. “Rake and aerate your lawn if you haven’t [already] done so in early spring,” said Pol Bishop, a gardening expert withFantastic Gardeners. “By aerating the area outside, the grass will be able to consume water and nutrients better and it also allows it to breathe. You can easily get rid of debris and thatch all over your lawn by raking it. It’s important not to skip this step as clearing the entire area will make sure the soil gets enough sunlight.” While landscapers and gardening services will probably try to sell you on pricey treatments that are bad for the environment, there are some very simple steps you can take to improve the health of your lawn that won’t cost you a dime. “Set your mower to three to four inches to keep the grass at a height that will shade weeds and therefore outcompete them,” Dr. Anderson said. “This also reduces the frequency of mowing. Unless you live on a golf green, you don’t need your grass to be shaved.” Before you start spending money on expensive compost, it’s worth remembering that a lot of the same nutrients you’re paying top dollar for at the store are getting tossed out with your trash. From the leaves you rake up in the fall to the peels from your carrots, organic material you’re tossing in the trash could be feeding your yard — saving you money and limiting how much trash you leave at the curb every week. “If you haven’t already set up a compost pile or bin, now’s the time,” said Zach Morgan, a horticulturist and gardening expert who works forGardening Services London. “If you don’t know what compost is, it’s basically a mixture of different organic materials that have been left in a specific place to decompose naturally. Composting is a great way to provide your crops with much-needed nutrients. Aside from fallen leaves and cuttings, you can also add fruit and vegetable trimmings from your kitchen. Thus, composting is not only ideal for improving the quality of the soil in your garden to grow healthier plants but also for reducing your green waste volume. Some materials to avoid adding to your compost bin are meat leftovers, dairy products, diseased plants, bones, plastic products or pet waste. Composting is also very cost efficient and can save you heaps of money. Once you start your compost pile, you will never need to buy fertilizer ever again. Best of all, the only investment you’ll need to start composting will be buying a garden compost bin (which costs between $20-30).” A nice expanse of green grass might have its benefits, but you’re also missing out on a lot of what makes your yard really enjoyable. Not only can planting other types of plants improve the look of your yard, but it can also play a role in keeping things healthy and green throughout the summer and into next year. “Live with some plants in your lawn that are not grass,” Dr. Anderson said. “Notice how many more insects this attracts, and celebrate the fact that you are helping maintain pollinator populations. If you really want a lawn without dandelions, there are some iron-based products that will kill broadleaf plants but not grass and that are healthier for the environment than most commercial herbicides. However, these are expensive to apply on a large scale, so you might pick a small area where you’d like to have only grass.” If you want to charm all the senses with your beautiful yard, the sound of wind chimes or songbirds can help put the perfect final touch on the beautiful sights and smells of your flower beds. And the right artwork can be combined with your garden to create your own little patch of heaven. “Choose tasteful outdoor statues that match your aesthetic,” said Williamson. “If you have a tree, take full advantage with wind chimes and bird feeders. They will create a great ambiance while attracting songbirds that will bring even more life into your yard.” While there’s always a temptation to skip out on yardwork, don’t overlook the benefits of regular pruning to keep your plants healthy. “Pruning is another gardening task that shouldn’t be ignored,” said Bishop. “It is actually quite beneficial for the trees and shrubs in your garden. Removing dead branches ensures they stay healthy. Also, pruning stimulates new growth and keeps your trees and shrubs thriving for a long time.” Of course, if you really want to celebrate biodiversity, giving up the sod is one of the best paths to get there. What’s more, you can start saving money on your grocery bill (and most likely significantly improve the quality of your produce) with a vegetable garden. Or you can plant the sort of flower bed that will stop traffic on your street. Not to mention, if you really enjoy gardening, this will likely be a lot more interesting than just growing grass. “Eliminate the need to mow a space by removing grass and adding beds for diverse plantings,” said Dr. Anderson. “It won’t eliminate the labor needed to maintain the plants, but it’s more pleasant work, in my humble opinion.” If you do go with flower or vegetable beds, you can save a lot of time and money — while simultaneously improving your soil — by using a simple process for mulching that involves leftover newspaper. “One easy and inexpensive way to replace grass is sheet mulching with newspapers and compost,” said Dr. Anderson. “Lay at least six pages of overlapping newspaper on the space you want to turn into a bed. Spray with water as you go so the paper does not blow away. Then shovel on at least two inches of compost if you have it, or cover with other organic material like wood chips or straw. The paper will shade out the grass and kill it, and the dead grass will decompose and improve the soil. You can either wait for this to happen (a good idea if the soil was poor to start with), or plant directly into the paper/compost area by cutting plant-sized circles into the paper/compost. Voila! Instant bed with no tilling or sod removal and you have improved the soil while saving yourself a lot of work.” While you might have some very specific ideas about the types of plants you want in your garden, it’s important to keep in mind that your garden is just one corner of the larger ecosystem of the area you’re living in. Selecting plants with the local flora and fauna in mind can make for a much easier time and a much healthier garden. “Plants that are native to your area will attract more native pollinators and may require less water and work than plants that originated on the other side of the world,” said Dr. Anderson. “There are lots of websites that will help you choose plants that suit your locale and will thrive without constant attention and intervention.” If you really want to maintain a great yard throughout the summer, don’t neglect the day-to-day upkeep that will keep your garden and lawn healthy until winter rolls around. “Regular lawn maintenance and mowing will ensure your grass is green and lush throughout the year,” Williamson said. “Do the same with your foliage; pruning, trimming and watering will do wonders to the yard’s aesthetic. It will also ward off unwanted pests and other insects.” Whether you’re living in a desert climate where water is scarce or you’re barely able to find a day for working outside because of all the rain, being strategic about your water use can pay dividends beyond just conservation. “Eliminate the need to water too often by caring for your soil,” said Dr. Anderson. “Soil with sufficient organic matter retains water better and also supports deep root growth so that plants can use available water more efficiently. When you have to water grass, water deeply and less often rather than shallowly every day. Choose native plants that will need less watering than alien species. For beds, install soaker hoses or drip irrigation to target water to the ground, not the foliage, which reduces evaporation and diseases that can come with wet leaves.” Click to read about30 home upgrades that won’t blow your budget. More on Saving Money • Best Online Savings Accounts • How To Save Money Fast: 3 Ways To Save $1K in a Month • 96% of Americans Are Missing Out on Major Savings Using This Trick This article originally appeared onGOBankingRates.com:5 Pro Gardeners Share Their Tips for a Thriving Backyard This Summer
The whiff of a Fed rate cut lowers popular savings account rates Some online savings accounts known for paying very high interest are pulling back on their generous offers. Goldman Sachs (GS) Marcus savings accounts and Ally (ALLY) have lowered their rates from 2.25% to 2.15% and from 2.20% to 2.10%, respectively. For Ally, this represented the first decrease since October 2013, after 20 straight raises. Over the past four years, online savings accounts have ramped up their interest payouts as the Federal Reserve raised its interest rates. These days, many online-based accounts pay in excess of 2.00% in annual percentage yield, a number that is over 20 times the national average of 0.10%, according to Bankrate. They can afford to pay more as banks can make more money on deposits in higher interest-rate environments, and online-based banks have low overhead. For many of these banks, having high yields is a critical marketing tool to attract deposits. A Goldman Sachs spokesperson told Yahoo Finance that the change was due to market conditions, but didn’t elaborate further. Ally provided more insight into its decision. “Ally Bank constantly monitors the economic environment and plan for where we think things are headed,” said spokesperson Justin Nicolette. Ally noted that interest rates are on the downswing and projected to fall, something evident after recent comments by the Federal Reserve, though the central bank has held rates steady instead of cutting them. At the same time, one financial institution actually raised its rate recently. Wealthfront’sCashaccount, which is FDIC insured, pays 2.57%, one of the highest rates in the country,according to Bankrate. On June 19, the Fed voted 9-1 to keep rates steady, but manyFed policymakersprojected rate cuts in the future. Thefederal funds ratewas last raised to 2.25%-2.50% in December 2018. “Based on these factors, we lowered the annual percentage yield (APY) on our Online Savings Account Tuesday, June 25 from 2.20% to 2.10%,” said Ally’s Nicolette. “As interest rates fall, savings accounts will be susceptible,” said Greg McBride, Bankrate’s chief financial analyst. However, McBride noted that competition is still fierce, even if the mere suggestion of a rate cut has been enough to send some banks’ rates down 0.10 percentage points. Yahoo Finance reached out to other online banks, includingSynchrony(2.25%),American Express(2.10%),Barclays(2.20%)HSBC Direct(2.30%),Citizens (Access) (2.35%),CIT(2.40%). None of these banks have changed their interest rates yet. “While we are always monitoring market conditions, we are comfortable with the current level of our savings rates," said Robert Sherman of HSBC. CIT noted that it “considers a number of factors when determining its interest rates,” and that “[m]aintaining a competitive return for our customers to help them meet their financial goals is one of our priorities.” Citizens declined to comment on whether it had plans to change its rate for its Access product and Barclays said it probably would not comment on forward-looking plans for setting rates. The others did not respond to comment on their plans by publication time. - Ethan Wolff-Mannis a writer at Yahoo Finance focusing on consumer issues, personal finance, retail, airlines, and more. Follow him on Twitter@ewolffmann. Business are lining up against Google Chase is removing the right of cardholders to sue — unless you opt out
NBA free agency: Yahoo Sports Top 50 free agents With the free-agent negotiating period opening at 6 p.m. ET on Sunday, here are the top 50 players on the market. This list will be updated with available contract terms as players agree to deals. 1. Kawhi Leonard Age: 28 Leonard bounced back from an injury-ravaged season and led the Toronto Raptors to the NBA title, while also winning Finals MVP. Toronto used a progressive rest program to keep Leonard fresh throughout the season and it paid off, as he delivered one of the best playoff runs of all time. Despite the fairytale season, Leonard is still intrigued about leaving the Raptors to head back home to Southern California, but Toronto is the favorite to keep him . Agreed with: Clippers for four years and $142 million 2. Kevin Durant Age: 30 Durant would have topped this list had he not torn his Achilles. Now, his long-awaited free agency is one that involves a different type of calculation. Durant will still lead free agency, just in a different way than was expected. Agreed with: Nets for four years and $164 million Kyrie Irving has been linked to a number of destinations. (AP) 3. Kyrie Irving Age: 27 Irving remains one of the top players in the NBA, despite a frustrating season with Boston. While the Celtics didnt have the success many envisioned, Irving was an All-NBA performer and once again an All-Star. Agreed with: Nets for four years and $141 million 4. Jimmy Butler Age: 30 Butler headlines this class as the most versatile shooting guard available. Hes able to play either wing spot and can also function as a teams primary ball-handler. While hes not the lockdown defender he once was, Butler is still in the upper third of the league as a defensive player. His age and injury history could be deciding factors for Butler. Agreed with: Heat for four years and $141 million 5. Kemba Walker Age: 29 Walker had a dream season. He was an All-Star in his home city of Charlotte and capped off the year by making the All-NBA team. The latter honor made him eligible for a super-max extension of five years and $221 million. Story continues Agreed with: Celtics for four years and $141 million 6. Klay Thompson Age: 29 Thompson suffered a torn ACL in the NBA Finals that is expected to keep him out for most, if not all, of the 2020 season. Thompson should make a full recovery. Golden State sticks with their pre-injury plan of signing Thompson to a max deal. Agreed with: Warriors for five years and $190 million 7. Khris Middleton Age: 28 Middleton picked a great year to go from everyones most underrated player to a first time All-Star. Hes now poised to cash in as a free agent. Because of his ability to play on or off the ball, inside or outside, as well as being a plus defender, Middleton fits with any team. Hell have big offers, but hes found a home in Milwaukee. Agreed with: Bucks for five years and $178 million 8. Tobias Harris Age: 27 Harris could have easily been on the power forward list, as hes really just a forward in todays NBA. That interchangeability serves him well and makes him an ideal fit for several teams. Philadelphia paid a pretty penny to get Harris at the trade deadline, so they paid to keep him. Agreed with: 76ers for five years and $180 million 9. DAngelo Russell (restricted) Age: 23 Russell really came into his own last season and became a first-time All-Star. Normally, this would mean a player of his age has a max deal coming to stay with the club with which he developed. In this case, Russells future was tied to the Nets pursuit of Irving, and Golden State was the beneficiary. Agreed with: Warriors for four years and $117 million 10. Al Horford Age: 33 Horford has become the ideal modern NBA center. He can step out and hit 3-pointers, but can also go get a bucket on the block. He remains an elite defender, both individually and within a team scheme. He can also slide down a position and play bigger power forwards. Horford projects to age well over the next few years, provided a team keeps him on a similar maintenance plan to the one Boston has used. Agreed with: 76ers for four years and $109 million 11. Bojan Bogdanovic Age: 30 When Victor Oladipo went down with a torn quad, it looked like the season was lost for the Indiana Pacers. Instead, Bogdanovic stepped up and was a big part of carrying Indiana to the playoffs. Hes been doing this for years on the international level, so it shouldnt have come as a surprise. Hes down a bit on the list because of his age, but for at least the next few years, Bogdanovic will give a team solid scoring and better-than-you-think defense. Agreed with: Jazz for four years and $73 million 12. Julius Randle Age: 24 Randle quietly blew up in New Orleans. Despite the drama that swirled around Anthony Davis for half the season, Randle put up a 21/8/3 stat line. He also became a dependable shooter, which opens up his market in todays game. Hes not a great defender, so pairing him with a rim protector is necessary. But his offensive game fits just about anywhere. Agreed with: Knicks for three years and $63 million 13. Kristaps Porzingis (restricted) Age: 24 Porzingis is coming off a lost year, missing the entire season while rehabbing from a torn ACL in 2018. Despite that, the Dallas Mavericks gave up a considerable package of picks and players to acquire Porzingis. There was buzz he could have returned late in the season, but with the Mavs out of the playoff picture, they took the conservative approach. Agreed with: Mavericks for five years and $158 million 14. Nikola Vucevic Age: 28 Vucevic took a while to get here, but he became an All-Star in his contract year. He also helped carry the Magic to their first playoff appearance since the team traded Dwight Howard in 2012. Vucevic is a good offensive player, but he needs good defenders around him. With his range and passing, he can fit any offensive system, which makes him attractive to many teams. Agreed with: Magic for four years and $100 million 15. Jeremy Lamb Age: 27 Lamb had a career year just in time for free agency. He was a starter for the first time and delivered with career-best numbers across the board for the Charlotte Hornets. Lamb is seen as a fit for just about any team. He can start or come off the bench and can play either wing position. Agreed with: Pacers for three years and $31.5 million 16. J.J. Redick Age: 35 Even at his age, Redick remains a solid player. While his 3-point percentage slipped under 40 percent for the first time in five years, he actually averaged a career-high 18.1 points. Redicks role as a shooter fits on every NBA team. Agreed with: Pelicans for two years and $26.5 million 17. DeMarcus Cousins Age: 28 Cousins looked like a guy coming off a torn Achilles tendon when he first returned . He then suffered a quad injury that kept him out for a chunk of the playoffs. But by the end of the Finals, Cousins looked pretty good. Hes fairly ground-bound, so the leg injuries arent major factors for him. He played for the Warriors on the cheap last year. He might have to do the same for another season just to prove he can stay healthy and productive. Team culture matters when looking at where Cousins fits going forward. Agreed with: Lakers for one year and $3.5 million 18. Brook Lopez Age: 31 Lopez was kind of like the kid left standing in musical chairs last summer. When the music stopped, everyone else had plans for their cap space and Lopez didnt have a chair. His loss was the Bucks gain as they got Lopez for just the bi-annual exception. Hes a perfect fit in Milwaukee, but there is no chance hes that cheap again. Agreed with: Bucks for four years, $52 million 19. Harrison Barnes Age: 27 Barnes somewhat surprisingly opted out of a contract that would have paid him over $25 million for the upcoming season. It is unlikely Barnes will ever see a single-season salary that large again, but this move gives him flexibility for the summer. It also gives the Kings the ability to lower his annual salary, but stretch it over more years. Agreed with: Kings for four years and $85 million 20. Marcus Morris Sr. Age: 30 Morris really blossomed in Boston. The Celtics let him carry the second unit for large chunks of his two seasons in green, while also using Morris as a sometimes starter. While hes known for his scoring, Morris is also a good defender, rebounder and passer. He fits anywhere because hes equally good coming off the bench or starting. Some smart team is going to get a steal here. Agreed with: Spurs for two years and $20 million 21. JaMychal Green Age: 29 Green was seen as a steal by the Memphis Grizzlies when they snagged him from the San Antonio Spurs in 2015. He grew into his own in Memphis, especially by adding range to his jumper. He fit in almost perfectly with the Los Angeles Clippers after they acquired him at the trade deadline because of his lunch-pail work ethic. L.A. would love to keep him, but bigger plans for its cap space could cause Green to be on the move. If so, hell become a target for many teams. Agreed with: Clippers for two years and $10 million 22. Thaddeus Young Age: 31 Young has been a good, but not great, player for years. He came into the NBA as a run-and-jump player, but has slowly rounded out his offensive game. Hes still able to get to the rim, but hes also added a reliable jumper. And his defense has always been good, especially with his ability to guard either forward spot. Agreed with: Bulls for three years and $41 million 23. Patrick Beverley Age: 30 Beverley has gained a reputation as one of the guards whom opposing players hate to go against most. Hes just a pest, and thats a compliment of the highest order. Beverley has also improved his shooting and playmaking enough that hes no longer just a defensive stopper. Hell have plenty of suitors this summer because of the plug-and-play nature of his game. Agreed with: Clippers for three years and $40 million 24. Malcolm Brogdon (restricted) Age: 26 Brogdon is a ways away from his 2017 Rookie of the Year season, but hes gotten even better since then. Hes become equally adept at playing with the ball in his hands, or sliding off the ball and playing as a spot-up shooter. He put up a remarkable 51/43/93 shooting split this season. Agreed with: Pacers for four years and $85 million 25. Robin Lopez Age: 31 Of the players listed so far, this Lopez brother seems like the player who is most likely to have a new home next season. Chicago is moving on with younger options, so Lopez will be elsewhere. Thats probably a good thing for him because his rugged, defensive-minded approach can fit with several teams. Hell have plenty of suitors to choose from. Agreed with: Bucks for two years at the full room exception 26. Thomas Bryant (restricted) Age: 22 The Wizards hit the jackpot when they took a flyer on Bryant after he was waived by the Lakers. Bryant led the NBA in field-goal percentage and even displayed a little range by hitting 33 3-pointers. Because of Washingtons lack of ability to bring in a replacement, its going to take a big offer sheet to pry him away. Agreed with: Wizards for three years and $25 million 27. Rodney Hood Age: 26 Hood remains an enigma wrapped in a riddle. He shows signs of being a breakout wing scorer one moment and then is an injury-prone, inconsistent player the next. Hood seems to have settled into the role of bench scorer/spot starter. That adds to his value. With his ability to play both wing positions, hell have plenty of suitors. Portland would like to keep him. Agreed with: Trail Blazers for two years and $16 million 28. Danny Green Age: 32 Put Green firmly in the Redick camp of aging vets who remain productive. Greens a far better defender than Redick, but not nearly the shooter Redick is. Hes another guy in this class who can defend both wing positions, but he also has the ability to guard the bigger, slower point guards as well. That adds some value that offsets his declining offensive game. Agreed with: Lakers for two years and $30 million 29. Terrence Ross Age: 28 Ross became a Sixth Man of the Year candidate for the surprising Orlando Magic. His shooting and energy helped turn games on a regular basis for Orlando. Hes an ideal backup for those reasons and can fit with any team. The Magic would love to have Ross back, but will only extend so far to re-sign him. Agreed with: Magic for four years and $54 million 30. Nikola Mirotic Age: 28 Mirotic has had quite the odyssey over the last couple of years. He was traded from Chicago to help New Orleans make a playoff push last season, and this year was flipped to Milwaukee to fill the same role. Now, Mirotic is a free agent and can pick his next destination. While his defense doesnt really allow for him to be a starter, Mirotics ability to stretch defenses makes him a fit for any contender. With the Bucks facing a large tax bill, they may not be able to pay the market rate to keep Mirotic. Agreed with: Barcelona of the EuroLeague 31. Jonas Valanciunas Age: 27 Valanciunas somewhat surprisingly opted out of his $17.6 million contract with the Grizzlies. All indications are that both sides would like to come to an agreement on a long-term deal. Outside of Robin Lopez, Valanciunas is the biggest dinosaur on this list, and not just because he was once a Raptor. His fit is tough to project because hes not an ace defender and has little range on the offensive end. But he offers enough skill and experience to be helpful in the right situation. Agreed with: Grizzlies for three years and $45 million 32. Kelly Oubre Jr. (restricted) Age: 23 Oubre was acquired by Phoenix at the trade deadline and went on to play some of the best basketball of his career with the Suns. He seemed like a lock to be a priority for Phoenix as a free agent, but some other maneuvering at the draft has that in a bit of flux. The Suns are a swing team that could have cap space, or stay over the cap. If they stay over the cap, bank on Oubre re-signing in Phoenix. Fits with: Suns, Kings, Pacers 33. Al-Farouq Aminu Age: 28 When Aminu was a priority, first-day signing for the Portland Trail Blazers in 2015, many around the league said, Huh? Four years later, everyone gets what Neil Olsheys play was. Aminu became the Blazers starting four and played a part in continuing the teams sustained period of success. Agreed with: Magic for three years and $29 million 34. Tomas Satoransky (restricted) Age: 27 It took Satoransky four years to come to the NBA from overseas after being drafted and then two more years to become a starter. But after John Wall got hurt, Satoransky stepped in and delivered the best basketball of his career. Because of his great size at 6-foot-7, Satoransky gives teams options with how they put together their backcourts. Given the Wizards already shaky cap situation, a big offer sheet could steal him away. Agreed with: Bulls for three years and $30 million 35. Dewayne Dedmon Age: 29 Dedmon is an easy guy to root for. He had to fight his way onto NBA rosters to start his career. Then he developed a jumper to fit the modern game. Now hes one of those players who fits in just about anywhere, mostly because he can start or come off the bench and be equally as effective. Agreed with: Kings for three years and $41 million 36. Terry Rozier III Age: 25 Rozier is a bit of a mystery. Is he the guy who performed well as Bostons starter late in the 2017-18 season? Or is he the guy who struggled throughout the entirety of this past year? Hes kind of a boom-or-bust type of player. You cant really be sure what youre going to get. Agreed with: Hornets for three years and $58 million 37. Jabari Parker Age: 24 What a strange trip its been for Parker. Twice hes looked like he was becoming a go-to scorer and both times he tore his ACL in 2014 and 2017. The Bulls handed Parker a two-year, $40 million deal as a free agent, but it was really a one-year, $20 million contract because the second year was a team option. Parker never really fit in Chicago and was traded to Washington at the deadline. He played well with the Wizards, but had his team option declined Saturday . Now its about finding a fit as a bench scorer. At just 24 years old, he can be a major weapon off the pine for a good team. Agreed with: Hawks for two years and $13 million 38. Ricky Rubio Age: 29 With Utah acquiring Mike Conley from Memphis, Rubio is going to be on the move. Hes been linked to both the Celtics and the Pacers and would be a nice fit with either team. Rubio is never going to be a shooter, but his playmaking and defense remain very good. Agreed with: Suns for three years and $51 million 39. Taj Gibson Age: 34 Gibson is probably the most old-school power forward on this list. He doesnt really stretch the floor on offense, and his defense is best in and around the paint. But Gibson stays within himself and does what he does. Because he can defend both the bigger power forwards and centers equally well, Gibson has value to contenders as a backup big man. That alone will get him his next deal. Agreed with: Knicks for two years and $20 million DeAndre Jordan has an interesting free-agent history. (AP Photo/Mary Altaffer) 40. DeAndre Jordan Age: 30 Jordan finally got to Dallas and his stay didnt even last a year. He finished out the season in New York, but isnt likely to be back. Jordan will mostly likely catch on with a contender who needs some rebounding and defense up front. His range is measured in inches at this point, so whoever signs him is getting him strictly for his play on the defensive end. Agreed with: Nets for four years and $40 million 41. Markieff Morris Age: 29 Its been a long, strange trip for Morris. He was hurt and ultimately traded at the deadline as a disappointing Wizards team looked to avoid paying the luxury tax. The Pelicans waived Morris because his acquisition was a straight salary dump. He then caught on with the Thunder, but never had the impact that was hoped for. Now, Morris is looking at getting his career back on track. Hell probably look at short-term deals with contenders, as he tries to rebuild his value in hopes of another big payday. Agreed with: Pistons 42. Bobby Portis (restricted) Age: 24 Portis is coming off the best season of his young career. He averaged career highs nearly across the board, but his most impressive improvement came as a shooter. Portis knocked down 39.3 percent of his 3-point shots on 3.8 attempts per game. Thats three straight years of incremental improvement for Portis, who we can now say is a good shooter. His career year came at the right time now that hes a free agent for the first time. Agreed with: Knicks for two years and $31 million 43. Elfrid Payton Age: 25 Paytons had a roller-coaster career so far. Hes got all the physical skills you could ever want as a lead guard, but his consistency and shooting continue to lag behind. Someone will take another chance on Payton because guards with his size/speed combo dont come around all that often. But it will be a short-term deal and hell likely be right back on this list a year from now. Agreed with: Knicks for two years and $16 million 44. Kentavious Caldwell-Pope Age: 26 In the span of two seasons, Caldwell-Pope went from rising star to overpaid afterthought. He had some struggles with the Lakers, but still improved his offensive game. He remains a good defender, even if that got lost in the context of some terrible team defense in Los Angeles. KCP remains young enough that some team could get a player with some upside for a reasonable price. Agreed with: Lakers for two years and $16 million 45. Wayne Ellington Age: 32 For 10 seasons, Ellington has been a knockdown shooter. Like Redick, hes got a role with any team because of his ability to shoot the ball. He doesnt do much else, so his value is likely limited to contending teams because older wing shooters are a luxury for bad teams. Ellington will find a role with a playoff team and hit shots as hes always done. Agreed with: Knicks for two years and $16 million 46. Delon Wright (restricted) Age: 27 Wright has spent most of his career backing up Kyle Lowry, only to be traded to Memphis at the deadline to back up Mike Conley. Now it looks like Ja Morant is going to be the Grizzlies new point guard after he was selected second overall. That means a team could potentially steal Wright with a big enough offer sheet. The most likely scenario is that Memphis re-signs Wright to act as a bridge to Morant this year and then a high-end backup going forward. Agreed with: Mavs 47. Rudy Gay Age: 33 Gay is one of the few success stories as a player who returned from a torn Achilles tendon to be productive. At his age, hes more of a reserve/spot starter than a guy who you can reliably plug into your opening lineup. Gay can play both forward spots and can still score from the midrange and in the post. His days of iso-ball and taking guys off the bounce are over, but hes a reliable depth piece for a good team. Agreed with: Spurs for two years and $32 million 48. Enes Kanter Age: 27 Kanter had an up-and-down season. He started with the Knicks for a while before being shut down as New York transitioned toward developing younger players. Kanter was then bought out and signed with Portland. After Jusuf Nurkic broke his leg, Kanter became the Trail Blazers starting center. At this point, Kanter is what he is. Hes a good scorer and rebounder, but a limited defender. Hes probably best suited to be a bench big, but should have plenty of suitors for that exact role. Agreed with: Celtics for two years and $10 million 49. Kevon Looney Age: 23 Looney went from a player for whom the Warriors declined a rookie-scale team option to a critical rotation player on an NBA Finals team. His improvement offensively and toughness to play through fractures in his shoulder/chest during the playoffs has a lot of teams interested. Looney is an easy fit for any team because of his plug-and-play defensive ability and improving offensive game. Agreed with: Warriors for three years and $15 million 50. Austin Rivers Age: 27 Rivers is a guy who came in with a lot of hype, never lived up to it and has been trying to overcome that since. Being overpaid for the last few years hasnt helped his reputation either. But hes a quality player who can back up both guard spots. For a team with limited flexibility, Rivers can fill two roles as the third guard off the bench. That makes him valuable around the league. Agreed with: Rockets for two years More from Yahoo Sports: Rose responds to LaVar Ball's cringeworthy remark Former WWE star tells harrowing depression tale Brady takes subtle shot at ESPN star's 'cliff' comment Wetzel: For the USWNT, Trump could be Motivator-in-Chief
Mark Wahlberg to Replace Chris Evans in Antoine Fuqua’s ‘Infinite’ Click here to read the full article. Mark Wahlberg is in negotiations to take over Chris Evans ’ role in Antoine Fuqua’s action thriller, “ Infinite .” Evans, who signed on to the pic in February, was unable to continue with the project due to scheduling issues. Related stories Chris Evans' 'Infinite' Gets 2020 Summer Release Date 'Wahlburgers' Renewed for 10th and Final Season at A&E Film Review: 'Avengers: Endgame' “ Infinite ” is based on D. Eric Maikranz’s novel “The Reincarnationist Papers,” which centers on the Cognomina, a secret society of people who possess total recall of their past lives. A troubled young man haunted by memories of two past lives stumbles upon the centuries-old society and decides to join their ranks. Ian Shorr are adapting the story for the screen. The Paramount film will be produced by John Zaozirny alongside Lorenzo di Bonaventura and Mark Vahradian at Di Bonaventura Pictures. Rafi Crohn is the executive producer. “Infinite” is set to bow Aug. 7, 2020, with production scheduled to begin this fall. Wahlberg most recently appeared in the Paramount comedy “Instant Family” and longtime collaborator Peter Berg’s action pic “Mile 22.” He will star in Netflix’s upcoming thriller “Wonderland,” again directed by Berg, as well as the drama “Good Joe Bell” opposite Connie Britton. He will also have a voice role in the Warner Bros. animated Scooby-Do pic “Scoob.” Fuqua is best-known for his 2001 film “Training Day”; Denzel Washington took home the Academy Award for best actor for his work in the crime thriller. Fuqua most recently directed “The Equalizer 2” and the TV documentary “American Dream/American Knightmare.” Wahlberg is repped by WME and Leverage Management. Fuqua is repped by CAA. TRENDING ON VARIETY: Sign up for Variety’s Newsletter . For the latest news, follow us on Facebook , Twitter , and Instagram .
Snap Stock Is Cheaper and Safer Than It Was in 2017 Snapchat's owner, Snap (NYSE:SNAP), arguably sold SNAP stock to the public too early.Source: Shutterstock The evidence to support such a theory is the steep selloff SNAP stock suffered following its IPO in March 2017. Unable to effectively tangle with Facebook (NASDAQ:FB) or Twitter (NYSE:TWTR) , SNAP had fallen 70% below its initial public offering price of $17 as of late-December 2018. * The 7 Top Small-Cap Stocks Of 2019 It happens.InvestorPlace - Stock Market News, Stock Advice & Trading TipsThe story has taken a decided turn for the better in just the past few months, however. Aside from the fact that SNAP stock price has jumped nearly 300% from December's low, Snapchat has figured out how to get -- and keep -- its users engaged. Its revenue continues to rise, and better still, its losses are starting to shrink dramatically.Most importantly, investors can now buy SNAP stock at a price less than what the initial buyers paid for it a little over two years ago. Meanwhile, Snapchat stock poses less risk now than it did then. Mistiming Isn't Anything NewGoing public is a tricky business,. An IPO that occurs too soon leaves a stock vulnerable to the fact that it can take years for an organization to work out all of its kinks. Waiting too long runs the risk of missing out on the market's love for new ideas; it also gives rivals a chance to replicate the company's business model.Both Twitter and Facebook also mistimed their IPOs.Twitter went public in 2013, but it didn't realize at the time that merely having a platform wasn't enough. It wasn't until 2017 that the company recognized that it has to facilitate discussions (ok, arguments). Its then-new strategy made a point of leading users to a so-called "long tail" of topics to talk about, including sports. It's also inked several deals that allow it to broadcast professional sports.Facebook has always been Facebook, even before its 2012 IPO. The stock spent its first year as a publicly-traded instrument in the red though, not so much due to well-touted trading glitches, but mostly because the then-looming migration from desktops and laptops to mobile wasn't fully foreseen or handled effectively by FB.In the same vein, Snapchat wasn't quite ready for prime time when it went public in the middle of 2017.Its user growth was already slowing down heading into the IPO of SNAP stock. That headwind became an outright undeniable reality in August of last year. That's when Snap's second-quarter report indicated that its average number of daily users had fallen for the first time ever. A relatively unpopular (and highly criticized) redesign of the app's interface was the culprit.There was always a method to the madness, though. Advertisers Loved the RedesignIn order to make the ads that appeared on Snapchat worthwhile to advertisers and drive coveted clicks, Snapchat's Android app had to be redesigned. Some users revolted, but advertisers loved it.Meanwhile, now, unlike in 2017, investors can rely on the company to deliver top and bottom-line growth.Moreover, the site's daily-user headcount ticked higher again in Q2. The figure of 190 million was only 4 million higher than the previous quarter's 186 million, but it's progress at a time when some suggested Snapchat's best days were behind it. Ongoing improvements that have been put into place in the meantime seem to be resonating, too. In May, SensorTower reports, the Snapchat app was the United States' most downloaded app.Clearly, SNAP is doing something right. The Bottom Line on SNAP StockNow Snapchat has become the company that the SNAP stock bulls of 2017 thought it was then The company still had a couple more important things to figure out as of 2017, though. Namely, young CEO Evan Spiegel had to figure out the fine balance between enough advertising to satisfy shareholders and excessive advertising that sends users elsewhere.It appears he's found the balance.Those who waited to buy SNAP stock until this year have learned that patience pays off.As of this writing, James Brumley did not hold a position in any of the aforementioned securities. You can learn more about him at his website jamesbrumley.com, or follow him on Twitter, at @jbrumley. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * The 7 Top Small-Cap Stocks Of 2019 * Critical Levels to Watch in 7 Marijuana Stocks * 5 Smaller Cloud Stocks That Have Plenty of Potential Compare Brokers The post Snap Stock Is Cheaper and Safer Than It Was in 2017 appeared first on InvestorPlace.
Forex Daily Recap – Cable Surged +0.50% Despite Johnson’s Parliament Proroguing Stance TheUSD Indexdisplayed a see-sawed performance on Friday’s session. The initial slump in the Greenback’s movements came following upbeat EUR data release. The German May Import Price Index, France June CPI, and the most vital Eurozone June CPI-Core data had reported above estimates. The US Dollar Index had then reached 96.05 level and later found some recovery amid positive USD data. The May MoM PCE – Price Index, Personal Income data and June Michigan Consumer Sentiment Index reported higher-than-estimated. However, the June Chicago Purchasing Managers’ Index reported 6.84% lower than 53.1market expectation. Finally, the Cable was successful in breaching the sturdy 1.2725 resistance mark. The positive force came following the release of the UK Q1 QoQ GDP report. The crucial macroeconomic data reported in-line with the previous figures, and even the market had expected the same. The QoQ GDP data reported 0.5% while the YoY data published around 1.8% this time. Meantime, the Tory Leadership frontrunner, Boris Johnson,statedclearly that the Brexit wouldn’t extend beyond October 31. Boris said that the chances of a “No-Deal” Brexit in that case, remained as “million to one”. The frontrunner also hinted of even proroguing Parliament to avoid any disagreements over a No deal exit. Despite Boris’s pessimistic comments, theGBP/USDpair kept the strong uptrend intact in the early hours. Anyhow, in the late European trading session, the GBP/USD pair was heading south, clearing out day’s gains. The Aussie pair opened up on Friday near 0.7005 level and showed high volatility throughout the day. TheAUD/USDpair touched the daily high near 0.7018 level, 0.19% above the last closing. Somehow, at around 15:52 GMT, the pair seemed to lose the early accumulated gains, heading again towards the opening mark. In the early hours, the May Private Sector Credit data came out. Both the MoM and YoY Credit reports remained below the market expectation. The Consensus had estimated the figures to report near 0.3%, but actual statistics came near 0.2%. The daily gains of the AUD/USD pair got capped amid positive USD data. After falling down the slope on June 27, the Ninja appeared to have stuck in the 107.56/87 range level thereon. Yesterday’s positive Japanese May MoM Retail Trade data had helped the Yen currency to climb new heights. However, such an elevation had an inverse impact over the Ninja pair. Today, theUSD/JPYpair started near 107.76 level and kept the downtrend intact. The pair marked the daily low near 107.56 mark but soon took the recovery flight. The May YoY Housing Starts reported -8.7% over -4.3% forecasts. Anyhow, the USD/JPY pair remained capped within the healthy 107.80 resistance level that deterred any further actions. The Loonie pair continued to keep a follow-through of the downtrend that got triggered on May 27. Though the primary trend was negative, the overall price action lacked the needed intensity. However, theUSD/CADpair showed some abrupt and rigorous movement in the European session. The Loonie pair slipped from 1.3099 level, straight to 1.3058 level. This sharp pullback came on the backdrop of higher-than-expected April MoM Canadian GDP data. The market had expected the significant GDP data to record near 0.1%. Somehow, the actual numbers exceeded the estimates by 0.2%. Meanwhile, the May MoM Industrial Product Price remained in-line with the 0.1% forecasts. After touching the bottom near 1.3057 level, the pair jumped immediately 35 pips reaching 1.3092 level. Thisarticlewas originally posted on FX Empire • GBP/USD Daily Forecast – Sterling Falls Below 4-Hour 100 MA • Equities Surge, Trade Truce In Focus, Tech Leads Market Higher • Natural Gas Price Fundamental Daily Forecast – Needs to Hold $2.249 to $2.222 or New Lows Likely Over Near-Term • E-mini Dow Jones Industrial Average (YM) Futures Technical Analysis – July 1, 2019 Forecast • EUR/USD Daily Forecast – Euro Drops Lower as the Dollar Recovers • EUR/GBP Still Bullish While the Price is Above the D L4 Pivot
TREASURIES-Bonds steady before U.S.-China trade talks (Updates prices) * U.S.-China trade talks on Saturday in focus * Quarter-end rebalancing seen helping bond demand * U.S. consumer spending increased moderately in May By Karen Brettell NEW YORK, June 28 (Reuters) - U.S. Treasuries were little changed on the day on Friday as investors waited on talks between the United States and China on Saturday for signs that leaders will de-escalate a trade war that has been blamed for harming global economic growth. U.S. President Donald Trump on Friday said he hoped for productive talks with Chinese President Xi Jinping, but added he had not made any promises about a reprieve from escalating tariffs. Bond trading was muted as investors were seen as reluctant to take large positions before the talks, given the uncertain outcome. “I don’t think too many people are all that enthusiastic about leaving for the weekend with a sizable position either way, because of the unknowns surrounding the G20,” said Tom Simons, a money market economist at Jefferies in New York. Trump and Xi will meet for the first time in seven months to discuss deteriorating ties between the world's two largest economies at the G20 summit in Japan. The ongoing U.S.-China trade war is being blamed for slowing international growth and adding more pressure on central banks to adopt looser policies. The U.S. Federal Reserve is seen as certain to cut interest rates when it meets in July. Yields have hovered around 2% level after dropping to an almost three-year low of 1.974% last week, after the U.S. central bank signaled interest rate cuts as soon as July to battle growing global and domestic economic risks. Demand for bonds from investors rebalancing accounts for quarter-end provided some support for the market on Friday. Data on Friday showed that U.S. consumer spending increased moderately in May and prices rose slightly, pointing to slowing economic growth and benign inflation pressures. (Reporting by Karen Brettell in New York Editing by Chizu Nomiyama and Matthew Lewis) )
Nike Forges Ahead, Reiterates Full-Year Guidance Nike(NYSE: NKE)released fiscal fourth-quarter 2019 results on Thursday after the market closed, largely delivering as promised as it works to expand the reach of its iconic brand in the face of fluctuating currencies andmacroeconomic challenges. The athletic footwear and sportswear giant also reaffirmed its goals for the coming year, leaving shares little changed ahead of what could be an eventful weekend for the world's trade landscape given planned talks between the U.S. and China during this year's G-20 summit in Japan. Image source: Nike. [{"Metric": "Revenue", "Fiscal Q4 2019": "$10.184 billion", "Fiscal Q4 2018": "$9.789 billion", "Change": "4.1%"}, {"Metric": "GAAP net income", "Fiscal Q4 2019": "$989 million", "Fiscal Q4 2018": "$1.137 billion", "Change": "(13%)"}, {"Metric": "GAAP earnings per diluted share", "Fiscal Q4 2019": "$0.62", "Fiscal Q4 2018": "$0.69", "Change": "(10.1%)"}] Data source: Nike. For the quarter ended May 31, 2019.GAAP= generally accepted accounting principles. • Though we don't typically pay close attention to Wall Street's demands, consensus estimates predicted higher earnings of $0.66 per share on a 3.9% reported increase in revenue. • Revenue climbed 10% on a constant currency basis, exceedingguidance provided in Marchfor top-line growth "squarely in the high-single-digit range." • Nike brand revenue grew 10% at constant currencies to $9.7 billion, thanks to NIKE Direct and wholesale growth, as well as strength in footwear, apparel, sportswear, Jordan, and basketball products. Within that: • On a geographic basis:North American Nike brand revenue climbed 7%, or up 8% in constant currency, to $4.165 billion.Europe, Middle East, and Africa region revenue was flat as reported, but increased 9% adjusted for currencies, to $2.457 billion.Greater China revenue grew 16%, or 22% at constant currencies, to $1.697 billion.Asia-Pacific/Latin American revenue fell 4%, but climbed 9% adjusted for currencies, to $1.379 billion. • Converse revenue was $491 million, roughly flat compared to last year on a constant currency basis as double-digit growth in Asia was offset by lower sales in the U.S. and Europe. • Gross margin expanded 80 basis points to 45.5%, as supply chain investments and higher product costs were only partially offset by higher average selling prices, foreign currency adjustments, and Nike Direct growth. • Nike repurchased and retired 10.6 million shares for $897 million this quarter. "[Fiscal year 2019] was a pivotal year for Nike as we continue to bring our Consumer Direct Offense to life throughout the marketplace," stated Chairman and CEO Mark Parker. "Our distinctive innovation and digital advantage led to accelerated growth across our complete portfolio, while our Brand fueled deeper relationships with consumers around the globe." "Reflecting on our FY19 performance, it is clear that growth is paramount at Nike, and that our strong growth is being driven by strategic transformation," added CFO Andy Campion. "Amid foreign exchange volatility, our double-digit currency-neutral revenue growth and expanding [returns on invested capital] showcase Nike's unrivaled ability to create extraordinary value for consumers and shareholders over the long term." During the subsequent earnings conference call, Campion told investors Nike expects currency-neutral revenue growth in its current first quarter of fiscal 2020 to be again "squarely in the high-single-digit range." After accounting for an estimated 4 percentage points of foreign-exchange headwinds, that should bring reported revenue growth next quarter "in line to slightly above" the 4.1% it just delivered above. Looking further ahead and based on current exchange rates, Campion added that the impact of currencies on revenue should "largely abate" starting in Nike's fiscal second quarter. As such, Nike reiterated its preliminary guidance for full-year fiscal 2020 reported revenue growth in the high-single-digit range, marking a slight acceleration from its growth in fiscal 2019. The company sees gross margin for the coming year continuing to expand by around 50 basis points. In the end, the market's muted reaction is evidence this report contained no significant surprises. But it did highlight Nike's steadily improving fundamentals, progress on its global growth initiatives, and its enviable leadership position in the worldwide sportswear, apparel, and athletic footwear industries despite the broader macroeconomic uncertainties it faces. And I think investors should be happy with where it stands today. More From The Motley Fool • 10 Best Stocks to Buy Today • The $16,728 Social Security Bonus You Cannot Afford to Miss • 20 of the Top Stocks to Buy (Including the Two Every Investor Should Own) • What Is an ETF? • 5 Recession-Proof Stocks • How to Beat the Market Steve Symingtonhas no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Nike. The Motley Fool has adisclosure policy.
Francis Ngannou vs. Junior dos Santos preview, prediction (L-R) Francis Ngannou and Junior Dos Santos face off during a news conference inside State Farm Arena on April 12, 2019 in Atlanta. (Getty Images) My enthusiasm to pick a knockout Saturday in the heavyweight bout between Junior Dos Santos and Francis Ngannou in the main event of UFC Minneapolis (9 p.m. ET, ESPN) is tempered only by my enthusiasm last year in picking a knockout in the bout at UFC 226 in Las Vegas between Ngannou and Derrick Lewis . The Ngannou-Lewis fight on paper seemed to be a dream bout, pitting a pair of offensive-minded sluggers against one another. It was a can’t-miss until it did miss, miserably. There’s no sugar coating it: Ngannou-Lewis was one of the worst bouts in UFC history. Lewis fought with a bad back, and Ngannou was struggling to deal with the aftermath of his first defeat, which occurred at UFC 220 in a title fight six months earlier to Stipe Miocic. Ngannou’s confidence was shot after he was humbled by Miocic and he was subsequently unable to pull the trigger in the showdown with Lewis. The result was a bout memorable only for the cascade of boos that serenaded the fighters for much of it. A little less than a year later, we face a similar match. While Dos Santos, a former UFC heavyweight champion, has a black belt in Brazilian Jiu-Jitsu, he doesn’t make a living trying to arm bar anyone. He told Yahoo Sports, “I consider myself a boxer.” Ngannou is a 6-foot-5, 255-pound knot of muscle whose genteel manner outside the cage is belied by his seek-and-destroy nature inside of it. He’s known as “The Predator” for a reason. The Dos Santos-Ngannou bout has stakes that didn’t exist in the Ngannou-Lewis bout. Though nothing has been promised, it seems almost certain the winner will get a shot at the heavyweight title, currently held by Daniel Cormier. Cormier will defend the belt in the main event of UFC 241 in Anaheim, California, in August against Miocic. Ngannou is ranked No. 2 and Dos Santos No. 3 behind the top-rated Cormier. Unless the UFC decides to give light heavyweight champion Jon Jones a shot at the heavyweight title in his bout following his UFC 239 match on July 6 with Thiago Santos, there seems to be no one else who’d deserve the opportunity than the Ngannou-Dos Santos winner. Story continues That knowledge could cause either, or both, men to be cautious, not wanting to make that mistake which would end the fight and crush the dream of a championship. More likely, though, is that it will give them incentive to push, to win with emphasis and prove conclusively they’re ready to fight for the championship. Dos Santos concedes that Ngannou has “crazy knockout power,” and said he’ll have to use his boxing skills to avoid being hit. But while Dos Santos has been one of the best and most exciting heavyweights of the last decade, it’s not because of his skill in avoiding punches. Consider these statistics from Fight Metric about Dos Santos’ last five fights, four of which were victories: Ben Rothwell landed 41 percent of his punches to the head. Miocic landed only 33 percent of his punches to the head, but connected with 100 percent of the punches he threw from distance. Blagoy Ivanov connected on an astounding 78 percent of his strikes to the head. Tai Tuivasa landed 56 percent of his strikes to the head. Lewis landed 58 percent of his strikes to the head. Those are scary numbers for someone preparing to face Ngannou, who in his last eight fights has landed 8-of-20; 1-of-1; 8-of-13; 6-of-14; 21-of-113; 11-of-46; 13-of-17 and 6-of-10 of his significant strikes. That is a low number of landed strikes in each fight, but there is a reason for that. He’s connected on 74-of-224 significant strikes in those eight bouts, six of which were first-round finishes. Throw out the bouts with Miocic and Lewis which he lost and Ngannou has landed just 42 significant strikes in those six victories. Ngannou spent just eight minutes, one second in the cage in those six victories, which came over Boris Mihajlovic, Anthony Hamilton, Andrei Arlovski, Alistair Overeem, Curtis Blaydes and Cain Velasquez. What those numbers say is that Ngannou doesn’t need many connects to finish the fight. If he finds the range, he’ll generally end the fight quickly. Given that Dos Santos absorbs so much punishment, even when he’s winning, it’s difficult to understand how he’ll be able to survive 25 minutes against Ngannou. Look for Ngannou to finish the bout sometime in the first round. More from Yahoo Sports: Rose responds to LaVar Ball's cringeworthy remark Former WWE star tells harrowing depression tale Brady takes subtle shot at ESPN star's 'cliff' comment Wetzel: For the USWNT, Trump could be Motivator-in-Chief
Court hears appeal on 'Pharma Bro' Shkreli's fraud case NEW YORK (AP) — A federal appeals court heard arguments Friday over whether the securities fraud conviction against former drug company CEO Martin Shkreli, known as "Pharma Bro," should be thrown out. Defense attorney Mark Baker urged the court in New York City to overturn a 2017 guilty verdict for Shkreli, claiming that the trial judge gave confusing instructions to jurors before their deliberations about whether it needed to find his client intentionally set out to cheat investors. Baker noted that the same jury also acquitted Shkreli on related wire fraud charges, saying, "The split verdict speaks volumes." Assistant U.S. Attorney Alixandra Smith argued that the instructions were proper. The court is expected to issue a written ruling at a later date. A judge sentenced Shkreli to seven years in prison last year for his conviction on charges he looted a drug company he founded, Retrophin, of $11 million in stock and cash to pay back investors in two failed hedge funds he ran. At the trial in federal court in Brooklyn, investors took to the witness stand to accuse him of keeping them in the dark about huge losses as his scheme unfolded. The defense argued there wasn't any harm done because in the end all of them got rich off Retrophin stock. Before his arrest, the 36-year-old Shkreli was best known for buying the rights to a lifesaving drug at another company in 2014 and promptly raising the price from $13.50 to $750 per pill. He also gained notoriety for attacking critics on social media under the moniker "Pharma Bro" and for being barred from Twitter for posts about a female journalist.
The clean haircare line New Yorkers are obsessed with just launched at Sephora Through his work, celebrated hairstylist Sam Brocato has witnessed first-hand just how detrimental synthetic haircare products can be -- hair breakages, color changes, dullness and even acne can all be caused bythe toxic ingredientspacked into many our favorite products -- not to mention,the environment usually takes a hit too. Using his experience at the NY School of Aromatics, Brocato started manufacturing and selling his homemade clean shampoos to his clients right out of his Soho salon. The products' dedicated fanbase grew and grew, and now, three years later,Together Beautyhas officially launched at Sephora under its clean beauty line. Made without synthetic materials, toxins, parabens and synthetic fragrances, the products aim to restore and enhance hair through the use of natural ingredients like lavender, mongongo and chamomile. Our favorite seven products from the line are listed below, but we're convinced that each item from the 15-piece collection is sure to be a win for the clean beauty industry.
Queen Elizabeth Kicks Off 'Royal Week' in Scotland Sporting Summery Yellow Ensemble Queen Elizabeth ‘s summer travel has begun! The 93-year-old monarch arrived in Scotland on Friday for Holyrood Week — known as Royal Week to Scottish locals — when she stays at the Palace of Holyroodhouse and carries out engagements in the country. The first of her outings was to Greenfaulds High School, where the Queen arrived in a yellow ensemble (a perfect color for summer!) and matching wide-brimmed hat. She was welcomed by students enthusiastically waving flags, then learned about the school’s history. Queen Elizabeth also watched a performance by the North Lanarkshire Schools’ Pipe Band and heard Gaelic poetry and songs performed by pupils. Andrew Milligan - WPA Pool/Getty Queen Elizabeth \| Andrew Milligan - WPA Pool/Getty Queen Elizabeth \| Andrew Milligan - WPA Pool/Getty Queen Elizabeth \| Andrew Milligan - WPA Pool/Getty Although the Queen is visiting Scotland, it’s not exactly a vacation — she’s appearing on many royal engagements throughout the week. On Saturday, Prince Charles (known as the Duke of Rothesay in Scotland) will join her to attend a ceremony to mark the 20th anniversary of the Scottish Parliament. Another highlight of Royal Week is the garden party at Holyroodhouse, where she’ll welcome thousands of people who have positively impacted their communities to her royal residence. #HolyroodWeek2019 begins tomorrow! The Queen will undertake a week-long programme of engagements, meeting Scots from across the country. 🎥 Watch our video for more. pic.twitter.com/ZHd9RJqDhc — The Royal Family (@RoyalFamily) June 27, 2019 Queen Elizabeth attends the annual garden party at the Palace of Holyroodhouse in 2017 \| Jane Barlow/Getty Queen Elizabeth heads north each summer to her Scottish estate, Balmoral Castle , for her annual break as Buckingham Palace prepares to open to the public for the holidays. She does continue to work, reading her diplomatic papers in the famous “red boxes” that are delivered daily. She will also continue to hold audiences and undertake some public engagements. Story continues Can’t get enough of PEOPLE’s Royals coverage? Sign up for our newsletter to get the latest updates on Kate Middleton, Meghan Markle and more! Queen Elizabeth and her corgis enjoy Balmoral estate in 1971 \| Lichfield/Getty A family picnic outside Balmoral Castle in 1960 The expansive Scottish property has been in the royal family since 1845, when Queen Victoria’s husband, Prince Albert, purchased the castle and the surrounding 7,000 acre estate. During her summer holiday, the monarch usually entertains many of her immediate family members with picnics and shooting parties — all the while battling the nibbling little flies that stalk the heather-covered mountain sides.
Man accused of being behind David Ortiz shooting arrested David Ortiz is still recovering after being shot. (Photo by Billie Weiss/Boston Red Sox/Getty Images) The man accused of orchestrating the shooting of Boston Red Sox icon David Ortiz has been arrested by police in the Dominican Republic. Victor Hugo Gómez was arrested Friday. #Preliminar Policía Nacional apresa a Victor Hugo Gómez, señalado como uno de los autores intelectuales de ataque donde resultó herido el ex pelotero David Ortiz. #PolicíaRD Más detalles en las próximas horas. — Policía Nacional República Dominicana (@PoliciaRD) June 28, 2019 That tweet, which has been translated by Click 2 Houston, suggests Gómez was “one of the intellectual authors of the attack.” Gómez is believed to have ties to the Gulf Cartel in Mexico. He was reportedly already being investigated for his alleged involvement with the group, according to Click 2 Houston. An indictment that was unsealed in March lists a Victor Hugo Gomez as a defendant, wanted on two counts of drug possession, one count of conspiracy to distribute cocaine and heroin and one count of conspiracy to conduct financial transactions with money earned unlawfully. Ortiz, 43, was shot in the back by a gunman while in the Dominican Republic in early June. He was taken to Massachusetts General Hospital and is still recovering from his wounds. Prior to Friday, the gunman and nine others had been arrested in connection with the shooting. Police do not believe Ortiz was the intended target of the shooting. ——— Chris Cwik is a writer for Yahoo Sports. Have a tip? Email him at christophercwik@yahoo.com or follow him on Twitter! Follow @Chris_Cwik More from Yahoo Sports: Rose responds to LaVar Ball's cringeworthy remark Former WWE star tells harrowing depression tale Brady takes subtle shot at ESPN star's 'cliff' comment Wetzel: For the USWNT, Trump could be Motivator-in-Chief View comments
Inside Apple's Long Goodbye to Design Chief Jony Ive (Bloomberg) -- Jony Ive has been leaving Apple Inc. for years. When it was finally made official on Thursday, there was nevertheless hand-wringing about the company’s future. Ive led a stable, close-knit team of designers who created the slick look and feel of Apple’s hardware and software for more than two decades. At least six members of the group have left in the past three years. The departures herald a new era. The days when Apple could reliably deliver a whole new category of device -- a spare music player, a sleek tablet, an elegant smartphone -- every few years have waned. More recently, the company has focused on iterations of its existing lineup. Now, the company needs another hit, but this one will require fundamental technological innovation, not just the design genius of Ive and his team. One person close to Apple captured the anxiety of the moment: “People who have been there forever don’t want to keep doing incremental updates to current products.” Apple shares slipped less than 1% in extended trading. But the stock has fallen more than 10% since early October on concern about waning iPhone demand and the U.S.-China trade war. “This news only adds to the current agita around the Apple story,” Dan Ives, an analyst at Wedbush Securities, wrote in a note to investors on Thursday. Ive was the mastermind behind the designs of the iPhone, iPad, Apple Watch, Mac, and iPod that took Apple from the brink of bankruptcy in the late 1990’s to its status as a trillion-dollar company. When co-founder Steve Jobs died in 2011, Ive became the most important person at the company, ultimately deciding what products Apple would launch, how they would function, and what they would look like. He was in charge of a roughly two-dozen person design team that included artists whose passions extended to the development of surfboards, cars, and even DJing on weekends. Many of their spouses worked as designers, too. But after the Watch launched in 2015, Ive began to shed responsibilities. Day-to-day oversight of Apple’s design team was reduced to coming to headquarters as little as twice a week, according to people familiar with the matter. They asked not to be identified discussing private details. Around that time, Ive told the New Yorker he’d become “deeply, deeply tired.” He said the year leading up to the Watch debut was “the most difficult” since he joined Apple. Laurene Powell Jobs, founder of the Emerson Collective, wife of the late Steve Jobs and a friend of Ive’s, suggested to the New Yorker that there could be a “slightly different structure that’s a little more sustainable and sustaining,” while keeping Ive at Apple. About three months later, Ive was named Apple’s Chief Design Officer, a role that shifted day-to-day responsibility of the hardware and software design teams to a pair of executives, Alan Dye and Richard Howarth. About two years later, at the end of 2017, Apple said Ive had re-assumed some of the leadership responsibilities he had previously given up. Ive still only came to the office a couple of days a week, with many meetings shifting to San Francisco, according the people familiar with the matter. That helped him avoid the long commute from his home in the Pacific Heights district of the city to Apple’s headquarters in Cupertino, California. Ive sometimes met with his team at the homes of his employees, at hotels, or other venues. The design executive even set up an office and studio in San Francisco to do much of his work. Ive also traveled frequently to London, near where he was raised. He occasionally missed out on Apple product launch events, an unthinkable absence several years ago. “This has been a long time in the making,” according to one of the people, who asked not to be identified because they aren’t authorized to discuss personnel moves. “He’s been at Apple over 25 years, and it’s a really taxing job. It’s been an extremely tense 25 years for him at Apple and there’s a time for everyone to slow down.” Initially, not much will change, because Apple has been operating with partial input from Ive for a few years, someone close to the team said. But challenges loom. And some people familiar with Apple are already worried about the new design leadership. Now that Ive is officially leaving, longtime studio manager Evans Hankey will run the hardware design group, Apple said. Hankey is a great team leader, but Apple now lacks a true design brain on its executive team, which is a concern, a person familiar with the design team said. Hankey and Dye will report to Jeff Williams, Apple’s chief operating officer. While Williams is a talented executive, some people familiar with matter believe the shift is another sign of Apple becoming more of an operations company. Apple declined to comment. “The design team is made up of the most creative people, but now there is an operations barrier that wasn’t there before,” one former Apple executive said. “People are scared to be innovative.” Ive reported to Apple Chief Executive Officer Tim Cook. The designer also used to report directly to Jobs. The two would lunch together regularly and walk around Apple’s Silicon Valley campus quietly making design decisions. “Most of the greatest debates at Apple happened between those two as they walked together,” said Matt Rogers, the co-founder of Nest Labs who worked on iPhone and iPod software from 2007 to 2010. “For the last decade, Jony’s been one of the great product leaders on the executive team. Who’s going to carry that forward?” The timing of Ive’s departure coincided with the promotion of Sabih Khan to the role of senior vice president of operations. That part of Apple has become more involved in the development of products at an earlier stage, one of the people said. The next big Apple product may be augmented reality glasses. Apple’s design group is trying to turn this nascent technology into something that changes people’s everyday lives -- in the way the iPod did for music and the iPhone did for mobile handsets. While the product is still a ways off, Apple’s operations team is already involved in the process, seeking suppliers and methods of production, the people said. A new product like that needs a “leap” in the underlying technology, while Ive specialized more in perfecting existing technologies for the masses, according to Rogers. Some smartphones had touch screens before the iPhone, but Ive’s team made the feature a delight to use. “It’s very hard to have large breakthrough hardware innovations every year. It’s more like every five or 10 years now,” Rogers said. The design team is taking on this challenge without veteran members. Christopher Stringer and Daniele De Iuliis, a pair of key Ive lieutenants, kicked off the departures a few years ago, with Daniel Coster leaving to lead design at GoPro in 2016. The team lost three members in the past six months: Julian Hoenig, Rico Zorkendorfer and Miklu Silvanto. While each Apple designer specializes in specific product lines, they all contribute to each other’s products and plans. That means losing an individual designer is still a big deal, a former Apple executive said. “The design studio has no secrets,” this person said. “They all know what each other is working on.” Apple has been hiring younger designers and increasing the size of the team. Joe Tan, who founded a firm called Moreless, joined in late 2015. “The new people have more energy,” a person close to Apple said. Still, the recent departures will hurt. And the cardinal sin is to flourish after you leave. Ive had a saying that went something like this, according to a person close to the design team: There are two ways of leaving Apple — the good way is you disappear and don’t make press. The bad way is you make the press. If you leave Apple and then build the Taj Mahal, we’ll chop off your hands. (Updates with detail on Powell Jobs in the ninth paragraph) To contact the reporter on this story: Mark Gurman in San Francisco at mgurman1@bloomberg.net To contact the editors responsible for this story: Tom Giles at tgiles5@bloomberg.net, Alistair Barr, Edwin Chan For more articles like this, please visit us atbloomberg.com ©2019 Bloomberg L.P.
JPMorgan CEO Jamie Dimon Downplays Threat from Facebook’s Libra Inan interviewwith Yahoo Finance Thursday, JPMorgan Chase CEOJamie Dimonwas asked about Facebook’s “cryptocurrency”Libracoin. The Wall Street royal brushed it off along with other cryptocurrencies. He pointed out that competition is inevitable in business. Dimon assured anyone listening that JPMorgan Chase is going nowhere and then rattled off a list of his company’s new initiatives and products. With a straight face, Dimon listed free trading like he invented it or something. That’s audacious and pathetic. Robinhoodhas builta $7 billion business in six years off of executing that idea. The least Jamie Dimon could do is keep it real. Here’s the first half of Dimon’s answer about Facebook’s Libra coin: “Well blockchain is real. We have the JPMorgan Coin blockchain. And competition is real. I think there are serious issues around money, and how you can use money and send money. But they’re government issues.” This interview aboutFacebook Libravs.JP Morgan Coinis textbook mainstream media programming. It doesn’t matter what your answer is so long as you accept the form of the question. Embedded in the question is the premise that these are cryptocurrencies. Q: How many legs does a sheep have if you call its tail a leg? Read the full story on CCN.com.
Swiss Crypto Bank Dukascopy to Introduce Its Own Cryptocurrency Switzerland-based onlinebankDukascopy is developing its ownEthereumblockchain-basedstablecoin, according to the white paperpublishedon June 27 Per the document, Dukascopy intends to issueERC-20stablecoins dubbed “Dukascash” pegged to the euro, Swiss franc, and U.S. dollar, and gradually increasing the list of Dukascash tokens’ base currencies depending upon customer demand. The bank further specified: “The initial Dukascash tokens tranches of roughly CHF 10 million or equivalent in each base currency will be issued and initially kept by the Bank as ‘unreleased’ tokens. Additional Dukascash tokens will be issued in tranches, depending upon client demand. Small portions (up to CHF 100,000) of unreleased Dukascash tokens will then be released in favor of the Bank to enable it to sell Dukascash tokens to clients.” The bank notes in the white paper that the main purpose of introducing Dukascash is to bolster the use of blockchain of payment tokens issued by Dukascopy. The public testing stage will begin on July 3. The bank plans to subsequently offer a custody service for Dukascash tokens, and accept Dukascash tokens from its clients at the exchange rate of 1:1 to the fiat base currency, as a payment for its services. In January, Dukascopypartneredwith European cryptocurrency exchangeBitstamp. Bitstamp will support bitcoin (BTC) transactions on behalf of Dukascopy Bank, wherein clients will be able to send BTC to their accounts, convert them to U.S. dollars and trade on the Swiss FX Marketplace. In addition to that, customers can transfer their funds back to the wallet in BTC. Asreportedearlier today,Brazilianplatforms including PagCripto, Nox Trading, 3xBit, and Bitcambio, are reportedly going to issue an ERC-20 stablecoin — pegged one-to-one with the Brazilian real — Real-T (REALT). • Goldman Sachs ‘Looking at Potential’ of Creating Virtual Currency, CEO Reveals • BaFin Head Urges Global Bank Standards in Response to Facebook’s Libra • Swiss Stock Exchange Asks Central Bank to Issue Stablecoin • Maple Leaf Capital: Recent Bitfinex IEO Ampleforth Token is Not Stable
S&P 500 posts best first half of the year since 1997 U.S. stocks advanced Friday as investors monitored the G-20 summit in Osaka, Japan. The three major indices closed out the session logging their best performances in the first half of the year in decades. Friday was the last equity trading session of June and the close of the first half of 2019. As of market close, the S&P 500 (^GSPC) was up 17% in the first six months of the year, its best first-half performance since 1997. The Dow (^DJI) rose 14% over the six-month period to round out its best showing since 1999. And the Nasdaq (^IXIC) rose more than 20%, marking its best first six months to the year since 2003. Friday also marked the first of two days of the G-20 summit in Japan, with President Donald Trump and China’s Xi Jinping set to meet on Saturday, in what investors hope will be an encounter that lays the groundwork for a future trade deal between the two countries. Equities have drifted in the days leading up to the meeting, with traders pricing in the prospect of little meaningful progress to be made during the leaders’ encounter. “It seems likely that Presidents Trump and Xi will agree to another tariff ceasefire on the sidelines of this weekend’s G-20 summit,” Capital Economics’ Jennifer McKeown wrote in a note Thursday. “But given the differences between the two sides, we suspect that any truce will prove temporary.” “The conclusions of the summit itself are likely to be vague, with the group still divided over the way forward on issues like WTO reform, climate change and sustainable investment,” she added. UBS analysts wrote in a note Tuesday that their base case was for China and the U.S. to pick up negotiations after the G-20 summit, with no further escalation in tariffs for the time being. Bank of America Merrill Lynch analysts called achievement of a major deal “quite unlikely given the big disagreements and the lack of motivating pressure from the markets,” with equities near all-time highs. Elsewhere, gold prices (GC=F) continued to climb amid more dovish posturing from the Federal Reserve and European Central Bank and rising geopolitical tensions. With prices up about 8% this month, the precious metal posted itslargest monthly gainsince June 2016, when investors piled into the safe haven asset after the U.K. vote to leave the European Union. Crude oil prices (CL=F) have also been on the ascent in June amid rising tensions between the U.S. and Iran and recent government reports pointing to smaller stockpiles. West Texas Intermediate crude oil futures settled at $58.47 per barrel on Friday and ended higher by about 9% in June, marking the best month for the commodity since January. The FTSE Russell indices willrebalanceafter market closeon Friday, impacting the components of the Russell 1000, 2000 (^RUT), 3000 and Microcap indices, as well as the index funds and ETFs that track these. The reconstitution typically drives higher-than-average volumes, especially toward the end of the trading day. Newly public companies Uber (UBER), Lyft (LYFT) and Spotify (SPOT) are among the companies entering the Russell 1000 after market close, according to a release fromFTSE Russell earlier this month. Nike (NKE) reported fiscal fourth-quarter earnings per sharethat missed consensus expectations, while posting stronger-than-expected sales results in North America and China. The stock recovered some losses despite the earnings miss after the company guided toward margin expansion in fiscal 2020 and doubled down on its commitment to invest in the Chinese market over the coming quarters, including with a roll-out of a women’s apparel line for Asian markets and Nike app launch in China in the first half of 2020. Apple (AAPL)announced Thursday evening that its Chief Design OfficerJony Ive would bedeparting the companyafter 27 years to start his own business, which will continue to work with the iPhone-maker. “This news only adds to the current agita around the Apple story as the company is branching out into television and gaming all while it is currently the poster child for the U.S./China UFC trade battle on the heels of the G-20 summit,” Wedbush analyst Dan Ives wrote in a note. Constellation Brands (STZ), the maker of Corona and ModeloEspecialbeers, reported fiscal first-quarter comparable earnings per share that topped Wall Street’s expectations. The company raised profit guidance for the full year to between $8.65 and $8.95 per share, an increase of 15 cents from the previous range. Constellation’s first-quarter comparable EPS of $2.21 per share topped consensus expectations by 16 cents. The company said profit in the quarter was impacted by its investment in Canopy Growth Company (CGC,WEED.TO), the world’s biggest cannabis company. Consumer spending, which accounts for 70% of U.S. economicactivity, rose 0.4% in May amid higher expenditures on motor vehicles and food services and accommodations,according to the Commerce Department.April’s consumer spending data was upwardly revised to see a 0.6% gain, up from the 0.3% increase previously reported. Meanwhile, personal income rose 0.5% in May, or unchangedfrom the previous month. This was stronger than the 0.3% gain expected by consensus economists. The personal consumption expenditures (PCE) index, which measures consumer price changes, rose 0.2% month-over-month in May and 1.5% over last year. Core PCE, the Fed’s preferred inflation gauge that excludes volatile food and energy categories, rose 1.6% year-over-year in May, slightly above the 1.5% pace expected. Consumer sentiment declined less-than-expected from May to June,according to the University of Michigan’s final print on its Survey of Consumers. The index logged a reading of 98.2 for June, better than the 97.9 reading reported in a previous print, but below the 100.0 the index registered in May. “June's small overall decline was entirely due to households with incomes in the top third of the distribution, who more frequently mentioned the negative impact of tariffs, cited by 45%, up from 30% last month,” Richard Curtin, Surveys of Consumers chief economist,said in a statement. “Most of the June slippage was concentrated in prospects for the national economy, with the unemployment rate expected to inch upward instead of drifting downward in the year ahead. Interest rates were anticipated to rise by the fewest respondents in six years, and declines in mortgage rates have begun to have a positive impact on home buying.” — Emily McCormick is a reporter for Yahoo Finance.Follow her on Twitter: @emily_mcck Read more from Emily: • Don’t say ‘IPO’: What to know about Slack’s direct listing • Buffett on the American economy, capitalism: ‘It works’ • Tech companies like Lyft want your money – not ‘your opinion’ • Levi Strauss shares jump more than 30% above IPO price at open • Facebook sued by Trump administration for alleged ‘discriminatory’ ad practices • Boeing 737 Max groundings ‘pressure’ U.S. economic data: Wells Fargo Follow Yahoo Finance onTwitter,Facebook,Instagram,Flipboard,LinkedIn, andreddit.
This Online Retailer Takes First Prize for the Greenest Packaging, Study Finds Looks like this is the place to online shop if you’ve got Planet Earth top of mind (plus how to do your part to recycle all that cardboard and packaging, no matter where you buy online). If online shopping makes you feel guilty because each order seems to arrive with an excess of wasteful cardboard and packing materials, consider where you shop the most. Some major retailers are more committed than others to minimizing waste and propagating sustainability with their packaging methods and materials—and a new study reveals which one is the most environmentally friendly of all. US Packaging & Wrapping LLC put three major online retailers—Amazon, Target, and Walmart—to the test to see which company is doing the best job cutting back on packaging materials. To compare each company, U.S. Packaging & Wrapping ordered the same five products from each retailer. After the arrival of each package, they weighed it, measured the “void gap” (the distance between the product and its postal packaging), and scrutinized the packaging materials used. So who tends to leave the smallest footprint, waste-wise? In the end, the study concluded,“[Of the three, Amazon has the lowest amount of packaging waste.” RELATED: You Probably Didn’t Know You Could Recycle These Things—But Here’s How to Do It It’s important to note, however, that the criteria for measuring this isn’t consistently black and white. For example, overall, Amazon packages yielded both the lowest net packaging material weight (39.4 ounces) and product void gap (24.75 inches)—however, the study doesn't shy away from mentioning some of Amazon's areas for improvement as well: “Amazon’s envelopes, padded with bubble wrap, have been subject to a lot of scrutiny in the past. Although the packaging is recyclable, the two different material types need to be recycled separately and, if this doesn’t happen, it can lead to issues in recycling plants. On the other hand, the use of this kind of packaging is helpful in terms of deliveries: They take up less space in delivery trucks, resulting in a more efficient postal system and fewer greenhouse gases produced in the process of delivery.” Story continues Something else to note is how consumers maybe shouldn’t be quite so quick to place irreversible blame on retailers, even those like Target and Walmart, which fell short in this study compared to Amazon. “Any of those retailers are offering shipping for a mind-boggling array of items, most of which were designed to look snazzy on a shelf, not fit into a shipping box to be sent [across the country],” says Dylan de Thomas, vice president of industry collaboration for The Recycling Partnership , a national nonprofit dedicated to transforming recycling and reducing waste across the country. “Having seen a distribution center behind the scenes, it's easy to see how a tiny item can end up in a box that doesn't fit it. Workers at those companies do such a hard job of packing items as efficiently as possible, and if the right-sized packaging isn't at the ready, then they're grabbing that next size up.” de Thomas also points out that reducing packaging waste is top of mind for pretty much every online retailer, for environmental reasons, yes, but also to reduce costs. “Waste on the packaging side means wasted money for the retailer, so they have a real motivation to shrink those gaps shown in this study,” he says. “We are happy to say all three [retailers] are supporters of The Recycling Partnership’s work to improve recycling across the US.” So even the so-called winning and losing retailers (per this study) have their packaging pros and cons, and the environmental efficacy of shipping methods often rely on consumers to do their part to keep the process as green as possible. A few simple things you can do? 1. Always empty and break down cardboard boxes and bring them to your curbside recycling cart or bin 2. Recycle all applicable plastic mailers and plastic shipping pillows that come inside boxes at a grocery store with recycling bins for plastic bags and wrapping. (There are roughly 18,000 locations where they can be recycled,” de Thomas says. “ Www.plasticfilmrecycling.org is a good place to find out where.” RELATED: Your Biggest Recycling Questions, Answered
Brazil's Petrobras believes Raizen, other distributors interested in refineries By Gram Slattery RIO DE JANEIRO, June 28 (Reuters) - Brazilian state-run oil firm Petrobras believes three types of companies could be interested in purchasing its refineries, including domestic fuel distribution companies such as Raizen, an executive said on Friday. Speaking at an event in Rio de Janeiro, Petrobras Chief Institutional Relations Officer Roberto Furian Ardenghy said fuel distribution firms, oil producers with operations in Brazil and trading firms could buy some refineries it has on the block. "Today, we're looking at three segments that could be interested in our facilities. The first segment is distributors, our friends at Raizen, and other companies that are here," Ardenghy said. Petrobras is planning to sell off eight of its refineries in a process Chief Executive Roberto Castello Branco has said could raise $15 billion. Castello Branco on Thursday said one of the refineries could be sold by the end of the year. The possible buyers Ardenghy mentioned are essentially those forecast by analysts. Glencore PLC and Vitol SA , both active in commodities trading, recently entered the fuel distribution business in Brazil, stoking speculation they may want to verticalize operations. Raizen, Brazil's second largest fuel distribution company, is a joint venture between Royal Dutch Shell PLC and Brazil's Cosan SA. The company did not immediately respond to a request for comment on Friday. (Reporting by Gram Slattery; editing by Jonathan Oatis)
A Garmin GPS can help you avoid traffic, and this one's on sale for up to $50 off Twitter Facebook TL;DR: Walmart has Garmin's Drive 52 , DriveSmart 55 , and DriveSmart 65 GPS devices on sale for $30 to $50 off their suggested retail prices. Fourth of July weekend traffic can be the stuff of nightmares, which makes it all the more important to have a premium GPS as your copilot — one that won't just guide you through congestion, but help you steer clear of it entirely so you can make it to the barbecue before all the Jell-O jigglers are gone. The highly-rated models in Garmin's 2019 Drive Series are a smart pick for two reasons: One, they feature the company's Traffic service that suggests alternative routes to avoid gridlocks and slowdowns. And two, they're on sale at Walmart right now for up to $50 off: Read more... More about Gps , Car , Navigation , Garmin , and Mashable Shopping
Police Have Arrested a 31-Year-Old Man for Mackenzie Lueck’s Murder Photo credit: Salt Lake City Police Department From Cosmopolitan Update: June 28, 2019, 2 p.m. Police have arrested a man and charged him with the kidnapping and murder of Mackenzie Lueck. NBC reports that a 31-year-old named Ayoola Ajayi is being charged with aggravated murder, aggravated kidnapping and other charges. According to AP , authorities say Ajayi is the person Lueck met at the park after taking a Lyft from the airport. It's unclear how they knew each other, but authorities claim they found burned evidence-including DNA from Lueck-at Ajayi's home. Salt Lake City police chief Mike Brown said he had to call Lueck's parents to tell them. “This is one of the most difficult phone calls I have ever made as both Greg and his wife Diana are devastated, are broken by this news," he said, according to NBC. The arrest happened Friday morning. Update: June 27, 2019, 5 p.m. Police are still searching for 23-year-old Mackenzie Lueck, who went missing after taking a Lyft, but they’ve now found “multiple items of evidence” while searching for her. CNN reports that while searching a house in Salt Lake City in connection with Lueck’s disappearance, the police found evidence. They have yet to disclose what that evidence is, but the homeowner is not in police custody. The Salt Lake City Police Department is now looking for a box spring and mattress that were given away from the Fairpark home a week ago. Whoever took them needs to contact the police. We are looking to find this mattress as well as a box spring in relation to this case. These items were possibly given away from 547 N. 1000 W. If you picked up these items please contact us at 801-799-3000 #MackenzieLueck #missingperson pic.twitter.com/Lqqby7iAxJ - SLC Police Dept. (@slcpd) June 27, 2019 Original story: June 24, 2019, 2:45 p.m. Police are searching for Mackenzie Lueck, a 23-year-old University of Utah student who went missing after taking a Lyft from the Salt Lake City International Airport. Story continues Mackenzie was on her way back to Utah from California, where she had gone to attend her grandmother’s funeral. Her flight touched down at the Salt Lake City International Airport at 1 a.m. Monday, June 17, when she texted her parents to tell them she landed. After three days of not hearing from her, on June 20, her parents reported her missing, according to the Salt Lake Tribune . As police began to investigate, it was revealed that Mackenzie took a Lyft ride to North Salt Lake, which is where she had requested to go. Ashley Fine, one of her Alpha Chi Omega sorority sisters, said Mackenzie doesn’t live there and she has no idea why she would request to go to the North Salt Lake area. According to Ashley, Mackenzie’s phone has been off since Monday and she’s been inactive on social media. One of her other friends added , “It’s not like her to go off the grid, and if she did, then she would tell me.” Mackenzie also hasn’t been to work or school , and her car and cat are still at her house. Lyft stated there was nothing off about her ride. The driver, who went on to pick up other riders throughout the night and is cooperating with the investigation, said Mackenzie was meeting someone at Hatch Park around 3 a.m. and didn’t seem distressed when she got there. The person Mackenzie met up with was reportedly in a car, but it’s not clear if she got in it with them. As of Monday, June 25, the police are looking for her but haven’t searched North Salt Lake because there’s no evidence she stayed there, according to Salt Lake City Police Sgt. Brandon Shearer. He explained , “We don’t have anyone searching any particular area right now because we don’t have any credible evidence of where she might be.” He also reportedly said there’s nothing to suggest she’s in danger “other than the fact she hasn’t been heard from.” pic.twitter.com/emrFp2VKpt - SLC Police Dept. (@slcpd) June 23, 2019 Mackenzie’s family released a statement saying, “Our primary goal is to find Mackenzie and bring her home. Her family is grateful for the concern, prayers, and the tireless efforts of the Salt Lake City Police and members of the community.” Those who may have information regarding Mackenzie are encouraged to call (801) 799-3000. ('You Might Also Like',) 16 Unexpected Fashion Rules That the Royal Family Follows The 8 Best Clarifying Shampoos for Getting Rid of Product Buildup Here's How to Flawlessly Conceal Your Acne
How to Build an Investment Portfolio With $2,000 A brokerage account can be a good way to diversify and start investing, even with smaller amounts of money. What Is a brokerage account? Simply, it's a way to purchase stocks, mutual funds and other investments in one place. These accounts are offered by brokerage firms and there are typically no fees involved to open one. There may, however, be a minimum amount required to start investing. With many brokerage accounts, investors need at least $2,000 to start building a portfolio . Joseph Polakovic, president of Castle West Financial in San Diego, says the key variable for investing with that amount of money is choosing the right brokerage account. When starting with a $2,000 investment or another small amount, consistency trumps everything else. "The starting amount isn't as necessary as the discipline it takes to keep it in the account, even if the account is experiencing some volatility," Polakovic says. For new investors, there are a few things to keep in mind about how to open a brokerage account and invest their first $2,000. -- Consider goals and needs. -- Watch the costs. -- Start with broad diversification. -- Aim for tax efficiency. -- Just start. [ See: 6 Investing Podcasts Advisors Recommend. ] Consider Goals and Needs Fintech companies offer more options to open a brokerage account than ever but younger investors should think carefully before committing their investment dollars. Choosing a brokerage that integrates traditional investing platforms with financial planning software can help investors target their portfolios to their goals, says Jesse Brown, financial advisor at Signature Estate & Investment Advisors in Houston. He says investors should consider whether a brokerage makes certified financial planners or other investment professionals available to answer questions as a portfolio evolves and grows. It's also important to keep investing targets in view to ensure that a brokerage account is suited to achieving those goals. Story continues "If you're looking to build retirement wealth, then it may be best to use a tax-advantaged account," Polakovic says. "However, if this account is going to be used to buy a home, pay for a large expense or be used sometime before age 59.5, then a regular brokerage account would be the best option." Watch the Costs Being clear about investing objectives is also important from a cost perspective. "When you're asking yourself what type of investor you're looking to be with it, you need to consider how frequently you think you'll be trading or changing investments as these changes will usually equate to some type of fee," says Jordan Sowhangar, Philadelphia-based certified financial planner and wealth advisor at Girard, a division of Univest Investments. Many brokerage accounts charge a trading fee or commission to buy and sell investments such as stocks and funds. Some may also charge an inactivity fee or annual maintenance fee for accounts. It's important to evaluate each fee and compare these costs against the account's features and investment selection to assess whether a specific brokerage option is a good fit. [ See: 7 Best Real Estate Crowdfunding Platforms. ] Additionally, pay attention to the fees associated with underlying investments. With mutual funds, index funds or exchange-traded funds, experts say the key number to focus on is the expense ratio. This figure represents the annual cost of owning a fund, expressed as a percentage of assets. Generally, an expense ratio of 0.75% or lower is optimal for managing costs. If an investor allocates $10,000 annually in a fund with a 0.75% expense ratio that means $75 would go toward those fees. Again, this is why choosing the right brokerage to open an investment account matters. Vanguard, for instance, offers some of the least expensive fund options, with an average expense ratio of 0.1%. The lower the expense ratio, the better for holding on to returns in a taxable account. Start with Broad Diversification Choosing the right funds to include a brokerage account can help with managing costs while offering investors exposure to a good mix of asset classes. Rebecca Novin-Cannon, president of Novin Cannon Financial Group in Montville, New Jersey, favors low-cost, broad-based asset allocation in the form of ETFs. She says this can be a good way to decrease volatility and increase returns. "Depending on your tolerance for risk, you should hold a diverse array of ETFs," Novin-Cannon says. That includes large-, mid- and small-cap funds , growth and value funds, bond funds, domestic funds and funds focused on international and emerging markets. Brown also suggests broad-based index ETFs. "Since this investment is already diversified between the companies in the index, it takes the stress out of having to build your own portfolio with several different investments," he says. "Once your investments begin to grow over time, then you can additional investments to offer the most diversification." A single fund may be sufficient for meeting diversification needs in the early stages. "When you are first starting out with a limited dollar amount as a new investor it generally makes the most sense to take a 'less is more' approach," Sowhangar says. [ See: 8 Investing Do's and Don'ts During Market Volatility. ] Aim for Tax Efficiency In a brokerage account, investment growth is subject to capital gains tax at the time an investment is sold. The short-term capital gains tax rate applies to investments held for less than one year; the more favorable long-term capital gains rate applies to investments held a year or more. Understanding the basics of taxation for brokerage accounts is important for ensuring that funds held in the account are as tax efficient as possible. Experts say that ETFs, which typically have less turnover of underlying assets, can meet this need. Investors may consider splitting their $2,000 initial buy-in between a tax-advantaged and a taxable account if they don't have both yet. "We don't know if taxes will go up or down in the future, so dividing the tax burden evenly by paying some taxes now and some later is a practical strategy," says Casey A. Marx, founder and CEO of Crown Haven Wealth Advisors in Carmel, Indiana. Marx says putting $1,000 into a Roth IRA and the other $1,000 into an after-tax-brokerage account can be a starting point for managing tax liability. Just Start The last guideline for opening a brokerage account may be the most important. "There is so much information out there about investments and investment strategies , it can be paralyzing to first-time investors," Marx says. "However, how much money you have to invest shouldn't stop you from starting a portfolio. There are plenty of investment options that allow you to invest as much or as little as you want." Delaying can cost investors portfolio growth over the long term. "Money needs to time to accumulate, accelerate and ultimately take off," Novin-Cannon says. "We each have only one compound interest curve during our lifetimes and the longer we wait to hop on our curve and start saving, the less take off we experience at the top end." More From US News & World Report 7 Great Blogs for Investing Tips 6 Risky Investment Fads to Avoid 10 Investing Tips for Busy People
18 Stocks Joining The Russell Indices The Russell 2000 Index is a small-cap stock market index that includes the bottom 2,000 companies found in the Russell 3000 index. The Russell Microcap Index includes the 1,000 smallest securities found in the Russell 2000 index. Since Friday marks the end of the second quarter, a slew of new companies will be added to the indices on Monday, July 1. Here is a list of companies that will be included. See Also: How to Invest In Index Funds Akoustis Technologies Inc (NASDAQ: AKTS ) is set to join the Russell 2000 and Russell 3000 Indexes effective July 1. Amerant Bancorp Inc (NASDAQ: AMTB ) is set to join the Russell 2000 Index. Avalon Globocare Corp (NASDAQ: AVCO ) is set to join the Russell 3000 Index. Beyondspring Inc (NASDAQ: BYSI ) is set to join the Russell 3000 Index. BioDelivery Sciences International, Inc. (NASDAQ: BDSI ) is set to join the Russell 3000 Index. cbdMD Inc (NYSE: YCBD ) is set to join the Russell 3000 Index. Cerecor Inc (NASDAQ: CERC ) is set to join the Russell 3000 Index. Chiasma Inc (NASDAQ: CHMA ) is set to join the Russell 3000 Index. Construction Partners Inc (NASDAQ: ROAD ) is set to join the Russell 3000 Index. CorMedix Inc. (NYSE: CRMD ) is set to join the Russell 2000 Index. GTY Technology Holdings Inc (NASDAQ: GTYH ) is set to join the Microcrap Index. Lipocine Inc (NASDAQ: LPCN ) is set to join the Microcrap Index. OptimizeRx Corporation (NASDAQ: OPRX ) is set to join the Microcrap Index and Russell 3000 Index. Phunware Inc (NASDAQ: PHUN ) is set to join the Russell 2000 and Russell 3000 Indexes. Soliton Inc (NASDAQ: SOLY ) is set to join the Russell 2000 and Russell 3000 Indexes. Tcr2 Therapeutics Inc (NASDAQ: TCRR ) is set to join the Russell Microcap, Russell 2000 and Russell 3000. US Well Services Inc (NASDAQ: USWS ) is set to join the Microcrap Index and Russell 3000 Index. Wrap Technologies Inc (NASDAQ: WRTC ) See more from Benzinga Sell-Side Weighs In On Accenture's 'Steady' Quarter A Walgreens Analyst's Takeaways From Q3 Earnings Conagra Analysts React To Q4 Miss: 'We View These Issues As Temporary' © 2019 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Best-case scenario for Trump-Xi talks is resumption of trade negotiations - Pence adviser WASHINGTON (Reuters) - The best-case scenario for talks on Saturday between U.S. President Donald Trump and Chinese President Xi Jinping is a resumption of trade negotiations, a top adviser to Vice President Mike Pence said on Friday. "Restarting negotiations would be a best-case scenario," Pence's chief of staff, Marc Short, told reporters at the White House. Trump and Xi are to meet in Osaka, Japan, where they are among world leaders gathered for a G20 summit. Trade talks have stalled between the two countries and Trump is threatening $325 billion more in tariffs on Chinese imports unless Beijing makes concessions. Pence postponed a speech about China's human rights record and national security concerns that had been scheduled for June 24 in order to avoid antagonizing the Chinese in advance of the Trump-Xi meeting. Short said that speech would be rescheduled. (Reporting by Steve Holland; editing by Jonathan Oatis and Tom Brown)
How Europe hopes to keep trade flowing with Iran FRANKFURT, Germany (AP) — European countries want to convince Iran to stick to its nuclear deal with world powers and have created a payment system that would facilitate some forms of trade with Iran in the face of financial sanctions and pressure from the U.S. President Donald Trump has pulled the U.S. out of the nuclear deal, in which Iran agreed to limit its nuclear efforts in return for a lifting of painful economic sanctions. To keep the deal going without the U.S., Europe has told Iran it will find a way to keep doing business outside normal financial channels. European countries have dubbed their trade mechanism INSTEX, for Instrument in Support of Trade Exchanges. Here's a look at what it is and why it matters. ___ Q: Why create INSTEX? A: Companies that import and export need to get paid through banks. Yet financial institutions will be loath to incur the displeasure of the U.S. Europe is setting up INSTEX to show Iran that they're serious about helping Iran deal with the burden of sanctions - so long as Iran is willing to keep to the 2015 nuclear deal, which European countries think is the best way to contain Iran's nuclear ambitions and avoid conflict. ___ Q: What exactly is INSTEX? A: It is an organization that's meant to coordinate import and export payments so that European companies can do business with Iran in the face of U.S. pressure and Iran can get badly needed goods and revenue. Its founding shareholders are Britain, France and the United Kingdom. Others could join . An EU official said Friday that it was "now operational." ___ Q: How would INSTEX facilitate trade? A: It would balance payments for imports and exports, acting as a middleman and reducing the need for transactions directly between the European and Iranian financial systems. Banks working with European companies are hesitant to accept any funds originating in Iran, even for humanitarian trade that is formally exempt from sanctions. Story continues ___ Q: How does that work in practice? A: Say, for example, a European exporter wants to sell medicine to an Iranian company. INSTEX records the sale in a trade ledger and then finds a European importer who is buying pistachios from Iran. INSTEX then approves a payment from the European pistachio importer to the European medicine exporter. That means the medicine gets paid for, but from one European bank to another without any funds from Iran. Meanwhile, INSTEX's counterpart in Iran coordinates a similar payment from the Iranian importer of medicine to the Iranian exporter of pistachios. The funds remain in Iran. Everyone has been paid and no European bank has to worry about taking Iranian money. ___ Q: Does this cover all goods, even oil? A: The countries setting up INSTEX said only that it will be "focusing initially on the sectors most essential to the Iranian population - such as pharmaceutical, medical devices and agrifood goods." That avoids a direct clash with the White House, since U.S. sanctions permit trade in humanitarian goods. European countries that had exemptions from U.S. sanctions to buy oil stopped buying crude, and the exemptions have now been withdrawn by Trump in any case. Cornelius Adebahr, associate fellow at the German Council on Foreign Relations, said the companies most likely to use the payment system were small firms with longstanding business ties to the Middle East and no U.S. business. "It is a very reduced target group," he said. "It's not about giant sums in the billions, particularly at the beginning." Starting transactions would let the Europeans say to Iran, "we're not just talking, we're doing something. That would be important and that's what the Europeans are working on." ___ Q: Could the U.S. retaliate against INSTEX? A: The European countries would in effect create a diplomatic shield around companies trying to do business in Iran. It does not eliminate risk of U.S. pressure, but analysts writing for the European Council on Foreign Relations say that the involvement of the three biggest economies in Europe raises the stakes for Washington should it try to apply pressure as it has on the private sector. Brian Hook, special U.S. representative for Iran and senior advisor to Secretary of State Mike Pompeo, said in May that he was skeptical Iran would ever set up a transparent local entity to complete its end of the arrangement. He said that if INSTEX ever became operational, the U.S. expected it to be used only for permitted humanitarian transactions: "We have said repeatedly for some time now that we will sanction any sanctionable behavior... I don't see any corporate demand for INSTEX." "We just don't see any corporate demand for it because if a corporation is given a choice between doing business in the United States or doing business in Iran it's going to choose the United States every single time. So that's our current assessment of INSTEX." ___ Kirsten Grieshaber in Berlin contributed to this report.
Wall Street Reacts To Nike's First Earnings Miss In 7 Years Nike Inc(NYSE:NKE) is coming off a surprisefourth-quarter earnings missThursday; here's how Wall Street is reacting. BofA: Just Don't Do It Bank of America Merill Lynch analystRobert Ohmeswas particularly bearish on Nike, lowering his earnings estimates for the first quarter of 2020 from 77 cents per share to 72 cents per share on currency headwinds. “Nike is now lapping the return of difficult global wholesale comparisons against the F19 ship-in of Air Max 270 & Epic React as well as the impressive ~25% FX-neutral avg. growth in Greater China over the last five quarters,” the analyst said. BofA reiterated an Underperform rating with a $70 price target. Nike A Top Pick At Morgan Stanley Morgan Stanley analystLauren Casselhas an opposite stance and said Nike remains her top pick. Nikeshared many remarkable fiscal 2019 stats that highlight the impressive digital transformation the apparel maker is undergoing, the analyst said. “On a constant currency basis, Nike added $4 billion of incremental revenues in FY19 alone. For perspective, that is more thanLululemon athletica inc.(NASDAQ:LULU) entire business - in one year." Nike’s direct-to-consumer business drove 50% of this incremental revenue growth, and digital sales grew 35% year-over-year to $3.8 billion, Cassel said. The SNKRS app now represents 20% of Nike’s digital business, with $750 million in revenue, she said. Nike’s first-quarter growth could be slightly slower due to the timing of innovation, as the brand is releasing Joy Ride, a new personalized cushioning running platform, at the end of the quarter according to Morgan Stanley. Morgan Stanley maintained an Overweight rating on Nike with a $103 price target. Edward Jones: Emerging Markets Key Edward Jones analyst Brian Yarbrough said he believes the majority of future growth in global consumer spending will occur in emerging economies — a good sign for Nike, which generated 55% of sales outside of the U.S. View more earnings on NKE One-quarter of Nike's sales are coming from the rapidly growing economies of China, India and Brazil, the analyst said. “In many markets outside the U.S., the company has much lower penetration rates than the U.S. market, which offers the company long term growth opportunities." Edward Jones believes the majority of the future growth in global consumer spending will occur in emerging economies, and the trend should drive Nike's growth in light of its strong presence and brand awareness, Yarbrough said. Edward Jones maintained a Hold rating on Nike. Price Action Nike shares were trading slightly higher at $83.74 at the time of publication Friday. Related Links: Sneakers As An Asset Class: 'The New Wave Of E-Commerce' Or A Bubble? Cowen: Sneaker Popularity, Resale Market Are Encouraging Signs For Brands Photo courtesy of Nike. Latest Ratings for NKE [{"Jun 2019": "Apr 2019", "": "", "Maintains": "Reinstates", "Neutral": "Buy"}, {"Jun 2019": "Mar 2019", "": "Market Perform", "Maintains": "Maintains", "Neutral": "Market Perform"}] View More Analyst Ratings for NKEView the Latest Analyst Ratings See more from Benzinga • Sneakers As An Asset Class: 'The New Wave Of E-Commerce' Or A Bubble? • 'Hopefully This Serves As A Lesson To Athletes': Sports Attorney Weighs In On Kawhi Leonard's Nike Logo Lawsuit © 2019 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Barnes & Noble Education Inc (BNED) Q4 2019 Earnings Call Transcript Image source: The Motley Fool. Barnes & Noble Education Inc(NYSE: BNED)Q4 2019 Earnings CallJun 25, 2019,10:00 a.m. ET • Prepared Remarks • Questions and Answers • Call Participants Operator Good morning. My name is Simon and I will be your conference operator today. At this time, I would like to welcome everyone to the Barnes & Noble Education Fiscal 2019 Year End Earnings Conference Call. All lines have been placed on mute to prevent any background noise. After the speakers' remarks, there will be a question-and-answer session. (Operator Instructions) Thank you. Mr. Tom Donohue, you may begin your conference. Thomas D. Donohue--Executive Vice President, Chief Financial Officer Thank you. Good morning, and welcome to our Fourth Quarter and Full Fiscal Year-end 2019 Earnings Call. Joining us today are Mike Huseby, Chairman and CEO; Barry Brover, EVP of Operations; Kanuj Malhotra, President of Digital Students Solutions; Lisa Malat, Chief Operating Officer, Barnes Noble College; as well as other members of our senior management team. Before we begin, I would remind you that the statements we will make on today's call are covered by the safe harbor disclaimer contained in our press release and public documents. The contents of this call are for the property of Barnes & Noble Education, and are not for rebroadcast or use by any other party without prior written consent of Barnes & Noble Education. During this call, we will be making forward-looking statements with predictions, projections and other statements about future events. These statements are based upon current expectations and assumptions that are subject to risk and uncertainties, including those contained in our press release and public filings with the Securities and Exchange Commission. The Company disclaims any obligation to update any forward-looking statements that may be made or discussed during this call. At this time, I'll turn the call over to Mike Huseby. Michael P. Huseby--Chairman and Chief Executive Officer Thanks, Tom. Good morning, everyone, and thank you for joining us. Fiscal 2019 was truly a transformative year for BNED. I'm proud of all that our people accomplished as we continue to pivot our platforms and offerings to digital delivery. Fiscal year 2019 results were in line with our expectations as we continue to generate significant EBITDA and, as a result, strong free cash flow. We're making important changes throughout our organization as we continue our digital pivot. We are very encouraged by our significant progress, including the development of our first internally developed digital study product, initially introduced as Bartleby Textbook Solutions and now branded as Bartleby Learn. Unification of the BNC and MBS sales teams, creating an expanded and incentivized new business sales team with a revitalized go-to-market strategy. The continued growth of our FirstDay inclusive access program which substantially increases courseware sales penetration volumes when adopted. The upcoming launch of our BNC adoption and insights portal, a new courseware adoption and insights platform for faculty and academic leadership that leapfrogs our prior adoption platform, an important enhancement to our institutional sales capabilities. And the introduction and completion of a pilot of four highly curated concept shops focused on elevating our in-store experience. These concept shops drove very meaningful improvement in sales trends in our pilot stores during the test period. Additionally, this fiscal year, we have begun to make important investments to drive growth for our general merchandise business in fiscal 2020 and 2021, including drop ship capabilities this fall and the next generation digital commerce platform expected to be live in fiscal 2021. As disclosed in this morning's press release, we have realigned our reporting segments to reflect our new go-to-market approach. We now have the following three reportable segments: Retail, Wholesale and DSS. The new Retail and Wholesale segments reflect changes we have made internally to combine physical and virtual store sales teams to more proactively identify and actively pursue new institutional business. The Retail Segment combines the operations of the former BNC segment with MBS Direct's virtual bookstore sales' operations from the former MBS segment. The Wholesale Segment is comprised of the MBS wholesale business, which provides a comprehensive selection of new and used textbooks at a lower cost of supply to approximately 3,500 physical bookstores, including our Retail segment's 772 physical campus bookstores. Our Wholesale business also sources and distributes new and used textbooks to our 676 virtual bookstores. Additionally, through our Wholesale segment, we sell hardware and a software suite of applications that provide inventory management and point-of-sale solutions to approximately 400 college bookstores. The DSS segment operating components of Student Brands and Bartleby remain unchanged. We believe the realignment of the resources and related reporting segments will deliver significant benefits and allow BNED to deliver growth and net new store contracts. Our campus stores, whether physical, virtual or a combination of both, provide the incredible value to institutions across the country and are key competitive differentiator for BNED. We're already starting to see the positive impacts of our larger and combined new business sales force. In fiscal 2019, net new store sales were impacted by some large competitive losses and fewer new business wins. So far, in fiscal 2020, we expect annualized net new store sales to be approximately $35 million as we drive new business wins and narrow competitive losses. We are very encouraged by these initial results of our new unified sales teams. We introduced our DSS reporting segment just one year ago and by -- this upcoming Fall Rush, Bartleby Learn is expected to grow -- to offer nearly 2 million step-by-step homework solutions across approximately 1,200 titles. Students can also now access a relatively new and developing Q&A feature to ask homework questions to experts virtually. We experienced a strong initial demand for Bartleby Learn, which added more than 50,000 subscribers during our first in-store sales push in our Spring Rush period. We are focused on and anticipate continued Bartleby subscription acquisition growth as we head into our Fall Rush period and greet a brand-new cohort of students. Our physical footprint on campuses nationwide, together with our deep knowledge of student course material consumption, remains a significant competitive advantage allowing us to better inform and manage the cost of our Bartleby content development. Our entire Company is focused on growing Bartleby subscribers and recognition of the value we can deliver to both students and institutions and also the high margins this business will contribute to BNED as it scales. DSS is a much different business than our historical one. The power of leveraging all of our physical and virtual assets together is unique to us and will become evident as Bartleby scales. The success of our DSS segment is key to unlocking shareholder value, and we are very focused on making that happen. Our DSS offerings also complement our institutional offerings and can bring added value to our partners and the students that they serve. We recently completed a survey of more than 100,000 students nationwide, which found that nearly 50% of first year students are interested in paying a one-time cost for access to all supplemental digital tools and resources that are bundled with tuition. We believe there is a strong opportunity to offer these types of bundled offerings through BNC FirstDay, our inclusive access model, delivering institutional digital product bundles, and an inclusive access model would accelerate Bartleby scale objectives with minimal acquisition costs while mitigating the churn so normally associated with such digital subscription products. We are actively exploring institutional Bartleby offerings to determine the optimal packaging and pricing. FirstDay is a strong example of the value we can bring to partners from a content distribution standpoint. Inclusive access has become increasingly popular in college campuses as institutions look for solutions that will drive down costs and enhance outcomes for students. Entering fiscal 2019, we had already entered into digital distribution agreements with the three largest higher ed publishers. This year, we expanded our digital distribution and FirstDay relationships with multiple publishers, including Oxford, Wiley, Macmillan Learning, SAGE and Norton, enabling us to offer even more content through our FirstDay platform. Inclusive access models are incredibly important in terms of increased penetration that they drive. At our schools using FirstDay, we see sell-through of more than 90% versus the traditional sell-through rate of approximately 35%. So even as digital content pricing is lower than physical content ASPs, the increased volumes result in a better business model for both BNED and the publishers, and importantly, more affordable prices for students. As more content moves digital in the long-term, FirstDay high sell-through penetration is expected to be a significant driver of revenue. We continue to see success with our FirstDay model with revenues from FirstDay sales increasing 92% year-over-year. To further enhance the value we offer institutions, this summer, we are launching the BNC adoption and insights portal. A new innovative platform that will transform how faculty and academic leadership research submit and monitor course material selections, affordability and student success. This tool provides a highly personalized user-friendly experience, actionable insights with high-impact reporting dashboards and more. The initial reactions to the portal from the current and prospective clients, as well as publishers who may benefit from the platform has been incredibly positive. We're installing this platform in a relatively small number of schools in August and look forward to rolling it out to more campus partners prospectively. Tools such as this adoption and insights portal are important to our strategy for packaging and pricing digital offerings that solves for multiple pain points that our college university partners, as well as their students and faculty are facing. Accordingly, the value of this and other tools we are investing in and offering to campus partners is directly contributing to recent new business success. In our physical stores, we have introduced some exciting changes to strengthen our advantage as the official on-campus retailer. In four of our stores, we have successfully completed an innovative and promising pilot of highly curated and relevant concept shops focused on elevating our store's experience. We're very pleased with the initial results of these pilot concept shops, which drove higher customer engagement and improvements in sales trends during the test period. We plan to introduce these new concepts to an additional 70 stores this summer. We are also very pleased to announce an exciting collaboration with Urban Outfitters, a favorite brand of our students. This partnership will create a one-of-a-kind retail experience in our stores, bringing trend-relevant apparel and home decor direct-to-the-college consumer. Urban Outfitters concept shops are planned for introduction in some of our stores beginning this fall. Looking ahead, we are continuing to make important strategic investments to drive increased levels of success in our Retail business, particularly, in the areas of general merchandise and emblematic apparel. This includes advanced digital commerce capabilities that will extend our product assortment and real-time availability for customers. We expect to see incremental online sales growth in the first half of this fiscal year when we greatly expand our online assortment through our new drop ship capabilities and other customer engagement enhancements. In fiscal 2021, we expect to launch our developing next-generation digital commerce platform which will further unlock sales growth by leveraging dynamic product discovery, personalization, promotions and user experience tools to ensure that shopping experience for customers across all our stores, physical or virtual, is best-in-class. Historically, we have underinvested in our e-commerce platforms and we have substantial upside to capture by making online shopping and fulfillment a much better experience for our customers. Fiscal 2019, as I said, has been a year of significant change and progress toward our objective of pivoting to a leading provider of both digital and physical offerings to institutional and student customers we strive to delight. Fiscal 2020 will be a year when we will continue to allocate human, expense and investment capital to our digital pivot. But we also expect to begin to see more meaningful operating results from these investments as we expect to grow Bartleby subscribers, increase general merchandise sales, continue to add inclusive access model to customers and add significant net new manage store business. We will continue to manage our cost structure to reflect the realities of our physical book-related trends during this transition period we are in. We would also like to thank our entire workforce for being fully dedicated as shown by the very personal commitments and contributions each of them are making during this transition period. Our people are contributing substantially to our purpose and strategy while also, essentially, investing in BNED's future with the understanding that their personal economics successes are tied to BNED's success. In our Wholesale Segment, revenue was down 13.5% year-over-year primarily due to lower demand. We continue to transform our Wholesale Segment to position MBS as an innovative service provider to the industry while also exploring additional ways to utilize MBS' advanced distribution capabilities as in the case of publisher consignment rental programs. As a reminder, under these agreements, we do not take titles to rental books but earn margin and a fee for processing the rentals for the publishers. This model has faced market acceptance and publisher execution issues. We are working closely with the two large publishers with whom we have consignment rental agreements to facilitate improved execution for Fall Rush of the more than 700 titles subject to this program. While we originally anticipated that the benefits from these consignment rental programs will be more recognized in fiscal 2019, we now anticipate increased cash flow benefits to be recognized this fiscal year. While the public market appears to value BNED as a traditional and perhaps even trouble retailer, the strength of our assets such as our store footprint, distribution capability and general merchandise business, together with our investments in digital such as Bartleby, inclusive access and our adoption and insights portal are already beginning to yield positive momentum. BNED has a unique set of assets and a strategic business model that are very hard to replicate. We remain confident in our role as a leading aggregator and distributor of educational contents, both within and outside of our store footprint. Our management team continues to lead the execution of our strategy for digital transformation. And though change at this scale is challenging and never happens fast enough, our entire Company is energized and confident in BNED's future and future values. As we prepare for the upcoming Fall Rush, we are highly focused on leveraging the unique strengths and expertise of each of our business units that help drive success to all of our customers. I'll turn it back over to Tom now for the financial review. Thomas D. Donohue--Executive Vice President, Chief Financial Officer Thank you, Mike. Please note that the fourth quarter ended on April 27, 2019, consisting of 13 weeks. All comparisons will be to the fourth quarter of fiscal 2018 unless otherwise noted. As Mike stated and as disclosed in this morning's press release, we realigned our business and sales organization into the following three reportable segments: Retail, Wholesale and DSS. The Retail Segment combines the operations of the former BNC segment with the MBS Direct virtual bookstore operations. The Wholesale Segment is comprised of MBS Wholesale business, and the DSS Segment remains unchanged. Total sales for the quarter were $334.4 million, compared with $357.7 million in the prior year. This decrease of $23.3 million or 6.5% was comprised of a $15.2 million decrease from the Retail Segment, a $5.8 million decrease from the Wholesale Segment and a $0.2 million decrease from the DSS Segment. Comparable store sales in the Retail Segment increased by 0.9% in the quarter as compared to a 2% increase in the prior-year period. Comparable store sales for the full year declined 5.1%, consistent with our expectations. Comparable textbook sales for the quarter increased 0.9% as compared to the prior year increase of 1.8%. Comparable textbook sales for the full year declined 8%, also consistent with our expectations. Textbook sales continue to be impacted by lower average selling prices of course materials, enrollment declines and students' purchases from publishers directly, as well as other online providers. Net sales for the Wholesale Segment for the quarter were $14.1 million, a decrease of $5.8 million. Net sales for the full fiscal year were $223.4 million, a decline of $35 million or 13.5%. Wholesale sales were down primarily due to lower demand. DSS sales were $5.5 million in the quarter compared to $5.6 million in the prior-year period. Sales for the full year were $21.3 million as compared to $15.8 million in the prior year. The consolidated gross margin rate for the quarter was 35.1%, down from 35.9% in the prior-year period. The consolidated gross margin rate for the full fiscal year was 25.9%, up slightly from 25.3% in the prior-year period. The -- this is primarily attributable to a shift of lower-margin digital products and higher contract costs related to contract renewals and new store contracts. Selling and administrative expenses in the fourth quarter decreased by $7.6 million or 7.2% compared with the prior-year period and decreased $9.9 million or 2.3% for the full fiscal year. The decrease in the Retail Segment for the quarter and the full year was primarily as a result of decreases in physical store payroll and operating expenses, a decrease in the LoudCloud digital operations, a decrease in virtual store payroll and operating expenses, and a decrease in corporate payroll and infrastructure. Wholesale expenses decreased in the fourth quarter and in the full year primarily due to lower payroll expenses and professional fees. DSS selling and administrative expenses increased in the quarter and the full year primarily due to the ongoing costs associated with the development of Bartleby, as well as costs related to the student brands and other digital offerings. Corporate Services in the quarter and the full year increased as a result of higher professional fees. During the fourth quarter, due to the change in our segment presentation reporting units, we performed an interim goodwill impairment test and concluded that the carrying values of the Retail and Wholesale reporting units exceeded their respective fair values. As such, we recognized a non-cash goodwill impairment loss of $49.3 million or $36.5 million after tax on a next tax basis, consistent -- consisting of the carrying value of goodwill allocated to each of those segments. Additionally, as a result of certain other operational changes, we recognized an $8.5 million non-cash impairment loss primarily related to certain other long-lived assets. We recognized a $4.7 million and a $7.2 million charge of restructuring and other charges during the fourth quarter and during fiscal year 2019, respectively. Restructuring and other charges are primarily comprised of severance and transition payments related to senior management changes, employee termination costs and benefit costs. Our cash balance at the end of the quarter was $14 million, a slight decrease compared to the $16.1 million in the prior-year period. There was 135 -- $133.5 million in outstanding borrowings compared with $196.4 million in outstanding borrowing in the prior-year period. This decrease in borrowings for the year is primarily attributable to the improved free cash flow. In fiscal 2020, we expect the average debt to be approximately $100 million with peak borrowings of approximately $200 million, fully repaid during our Fall Rush with additional borrowings until the end of the fiscal year. This is a similar pattern to fiscal 2019. CapEx for the fourth quarter was $14.7 million, compared with $12.7 million in the prior year. CapEx for the full fiscal year was $46.4 million as compared to $42.8 million in the prior year. Increases in CapEx were due to our continued investments in digital. Currently, our Retail Segment operates 1,448 college, university and K-12 school bookstores comprised of 772 physical bookstores and 676 virtual bookstores. As of today, we've contracted to open an additional 78 stores in fiscal 2020 with 37 additional known closings. This would bring our total physical and virtual store count to 1,489 locations net of closed stores. For fiscal 2020, we expect consolidated adjusted EBITDA to be between $90 million and $100 million. Due to the continued investments, capital expenditures are expected to increase from fiscal 2019 by approximately $10 million and are expected to be in the range of $50 million to $60 million. We expect free cash flow to be between $25 million to $40 million as compared to the $39.7 million in fiscal year 2019. We define free cash flow as adjusted EBITDA less capital expenditures, cash interest and cash taxes. With that, we'll open the call for questions. Operator, please provide instructions for those interested in asking a question. Operator Certainly. (Operator Instructions) Your first question comes from the line of Alex Fuhrman with Craig-Hallum Capital. Your line is open. Alex Fuhrman--Craig-Hallum Capital Group LLC -- Analyst Great. Thanks very much for taking my question. Wanted to ask about the outlook for next year. I apologize if I missed this maybe in the prepared remarks, but didn't see a revenue guidance in the press release. So just curious, as you're thinking about your EBITDA and free cash flow guidance for the year, just what type of revenue trends are baked into that? And specifically, looking at the new reportable segments, is there anything major to call out in terms of trends you're seeing so far this year on the top line? Michael P. Huseby--Chairman and Chief Executive Officer Hey, Alex, this is Mike. We decided not to give revenue guidance. I mean, there's so much change in business model around -- here's an example like publisher consignment rental where we don't take titles of books, we don't -- we book -- only book the fees and the margin that we receive of those transactions. We want to get away from comp store sales because we get thrown into the retail bucket. While it's important information, we'll continue to disclose it. We really are trying to focus managing the business on margin and cash flows and move to more and more digital, and the deals that we're cutting with publishers and other partners are really more focused that way. So, in terms of revenue trends, I think the one thing that we have alluded to is the new business. We're really happy with -- we're pleased thus far with the new sales force and what they're doing and just our approach, the go-to-market approach. So, we're getting some information on what we expect -- at least have experienced thus far on net new store sales. I think there's no reason to believe that the trends that we've been seeing are going to change markedly as it relates to physical books in the coming year. Trying to forecast average prices and what publishers are doing in the mix is proved to be very difficult. For example, they sold a lot of lower-margin, loose-leaf types of publications to schools last year instead of following through on the publisher consignment rental. So we're -- the revenue forecast to us just aren't as germane as trying to give the market a sense of what EBITDA and free cash flow look like in CapEx. CapEx is really important because of the investments that we're making and how they're driving the expansion of the products and accelerating the time to digital. I would -- one thing I talk about during the conferences is that the adoption and insights portal that we're rolling out. That's been invested in. We'll see the benefits of that, but the important thing there also is that it's really a tool that's needed by colleges and the ones that we're showing it to with proposals and other current situations are really want these tools now to manage what's increasingly complex business for them. So the answer to your question simply, we're not giving revenue guidance. We're not going to talk about forecasting the specific trends unless it's something we have fairly high degree of confidence on, but I don't think that on the physical side, the trends directionally will change from where they've been in the last few years. So, we don't tend to give value based on revenue and revenue movements. All our conversations on our evaluation in the public market seem to be more based around EBITDA and what we're dealing with pivoting to digital self and we're emphasizing this, we're managing to. Alex Fuhrman--Craig-Hallum Capital Group LLC -- Analyst Sure. No, that's helpful. Thanks. And then if I could ask just about the Digital Segment. Specifically, I guess, the Bartleby piece, I mean, it sounds like you're -- you've got some nice early signs of subscriber growth there. Just wondering what it's really going to take for you to get that business and turn it into a growth engine. Obviously, there is a big competitor out there with a similar product that's been doing very, very well over the last couple of years. I mean, do you feel that you have the content -- is as robust as you need it to be to really be able to put the foot on the gas in terms of marketing? Or is there may be some lifting still there to happen? Just curious where you feel that product is heading into the new school year? Kanuj Malhotra--Executive Vice President, Corporate Development and President, Digital Student Solutions Hey, Alex, this is Kanuj. I think by fall, we feel very good about where the content will be in terms of coverage of the most important, most frequently used titles, so we think we'll have fairly good coverage in area of increased investment. Our focus is Q&A, and we are very focused on being able to grow that library. So, I guess, in short, we feel very good about both sort of the headwind that exist in the market, having a new freshman class, as Mike alluded to earlier, for students that aren't in ecosystem yet is a really big opportunity, leveraging our titles in footprint, as well as out of footprint increasingly. So, we feel very good about being able to really start to drive that given where the content will be relative to where it was in the spring. Alex Fuhrman--Craig-Hallum Capital Group LLC -- Analyst Great. That's really helpful. Michael P. Huseby--Chairman and Chief Executive Officer You mean about 25% of the titles in the spring that we have in the fall, 20% to 25%. So in other words very... Kanuj Malhotra--Executive Vice President, Corporate Development and President, Digital Student Solutions More than doubled, yeah. Michael P. Huseby--Chairman and Chief Executive Officer Yes. It's more than -- well, doubled or tripled in terms of the titles that we've got available for textbook solutions, and we've gained 50,000 subscribers with primarily most of those coming from in-store support. So, to answer your question and expand on a little bit, if we had -- didn't have to worry so much about managing the EBITDA, we probably step on the gas a little harder, but I think that we'll know more as we get into the fall season and we may do some of that. That's one of the reasons that our free cash flow estimates are somewhat variable. We want to be able to take advantage of the opportunities as we see them happening during the course of the year. Kanuj Malhotra--Executive Vice President, Corporate Development and President, Digital Student Solutions I mean, and the last point I'd just add, Alex, is that, relative to where competitors are priced, we're priced very disruptively, roughly a 30% discount. So we think once we get it into a consideration set, increase that awareness, students will naturally move toward a product that has comparable, if not, better features. Alex Fuhrman--Craig-Hallum Capital Group LLC -- Analyst Great. That's really helpful. Thank you very much. Operator Your next question comes from the line of Ryan MacDonald with Needham. Your line is open. Ryan MacDonald--Needham & Company, LLC -- Analyst Hey, good morning, everyone. I guess, just following up on sort of the Bartleby question and as you're sort of looking at the growth trajectory there. Now, we're in at the end of June, you've had sort of a full semester to sort of monitor the usage and sort of habits of the 50,000 subscribers you got in the spring. Can you just talk about maybe what you've learned about retention and utilization from the students, from what you've seen thus far with that 50,000 number? Kanuj Malhotra--Executive Vice President, Corporate Development and President, Digital Student Solutions Hey, Ryan, it's Kanuj. We've seen sort of typical patterns emerge for a user sort of what you would suspect in terms of Q&A usage becoming more piqued during midterms and final periods and sort of -- it's consistent with what we thought in terms of churn behavior. Likewise, the seasonal falloff, that's associated with the summer. So it's pretty much according to pattern now. We are trying to get more nuanced on how we can drive more engagement and more usage. And I'd say it's early stages there, but we remain focused on being able to, as the previous question alluded to, get the content library expanded so we can cover students in all need shapes and all subject disciplines. I think the fall will be more just positive in learning more. But right now, I'd say, it's probably according to where we thought it would be. Ryan MacDonald--Needham & Company, LLC -- Analyst Yeah. Thanks. And, I guess, following up sort of on the new retail operating segments, sort of combining the MBS and the BNC sales teams there, it sounds like there is a lot of interesting developments in innovation going around in terms of the adoption insights and some of these concept stores. Can you talk about sort of what the go-to-market or how you're sort of positioning that competitively with your sales teams just to try and win more Retail business through sort of both two initiatives? Michael P. Huseby--Chairman and Chief Executive Officer I'll give a quick answer, and I'll let Lisa Malat, who's our COO of college who's heading up the sales effort, expand on it. But in essence, what we've done is expanded that sales team using internal resources. We promoted people from within the BNC field manager ranks, regional manager ranks, as well as combined the formally MBS Direct sales team quite effectively so that we more than double the number of salespeople that we have in the market and really taken a much more what I'd call proactive approach by targeting potential new business in a very intelligent way and emphasis on those that have bigger general merchandise, portfolios, in some cases. And it's a very disciplined approach that emphasizes all the new things we're doing, as well as what we've done in the past and have a great tradition of service, et cetera. I'll let Lisa talk about the competitive position a little bit more. Lisa Malat--Chief Operating Officer of Barnes Noble College Yeah. I mean, I think we all know what -- understand the transformation that's happening with the industry. And as much as we're feeling it, higher education is experiencing at even greater levels. But we feel that we're in a very, very unique position right now to really be able to offer innovative, really state-of-the-art solutions to our higher education partners, ones that really are differentiating us in the marketplace such as -- Mike talked about with AIP or some of our new retail concepts. And we're finding that these solutions are really resonating with our partners because we do a really good job of listening and understanding the different needs of all of our constituencies. We understand the pain points for academic leadership. We understand that higher education is looking to create these community centers or cultural hubs and points of engagements with the retail footprints wanting to bring students together. So we take these learnings from our campus partners, and we create these innovative solutions that are really helping us win contracts and grow top line for the business. Michael P. Huseby--Chairman and Chief Executive Officer It's really important for us to continue to grow our store contracts' footprint because as you saw in January, just as it relates to Bartleby, the engagement we have from our in-store personnel was critical to growing that business. 70% or so of the subscriptions came from in-store -- the physical in-store sales. And while we expect that distribution between in-store and online to probably change when scale occurs to a certain extent growing the in-store -- the store managed footprint is essential not just in terms of selling digital but it also -- it leverages all the skills we have within Barnes & Noble College across a broader footprint, which makes our -- obviously, it helps to make our cost structure and the way we run the business more effective. So from a competitive perspective, I think we're doing very well versus where we were about 1.5 year, one year ago where -- as you look at the exhibits of the earnings release, you can see that we ended up losing net new -- net business from store closures over store openings. We had a great significant impact on our financials. And so, that's another reason why it's important. It's not for the revenue growth. It's per se. It's for the opportunity that we have in margin expansion with general merchandise, with digital and also to leverage our organization across the broader footprint. Ryan MacDonald--Needham & Company, LLC -- Analyst Yeah. Thank you very much. Michael P. Huseby--Chairman and Chief Executive Officer Thanks, Ryan. Operator (Operator Instructions) Your next question comes from the line of Greg Pendy with Sidoti. Your line is open. Gregory Pendy--Sidoti & Company, LLC -- Analyst Hey, guys, thanks for taking my questions. I just -- I wanted to, I guess, understand the 50,000 subs, that was last quarter, and I just want to understand that was with one month free, correct? And I know there'll be some serious seasonality to the Bartleby Textbook subscriptions but it's not -- it wasn't at 50,000 during this quarter, was it? Michael P. Huseby--Chairman and Chief Executive Officer 50,000 was the number of subs we acquired during the Spring Rush, which was what we disclosed. There was initial introduction of the product, Greg, and we discussed it fairly thoroughly I think in the last quarter call. And as Kanuj said, it's fairly early days in analysis and the learnings on retention and engagement and that type of thing. But no, it's not this quarter. It's the same information disclosed from last quarter. As we go forward, we'll decide what details we wanted to disclose on subscribers and that type of thing. That was just an initial rollout to see if we could be successful, which -- we deemed that it would be a successful launch, especially, with the relatively disadvantage number of titles, et cetera, we have versus the competition. And the fact that it was the Spring Rush, where we were coming in with many students having already selected their online supplemental provider in the fall period. As you pointed out, we have a new cohort coming in, so we'll disclose more information on subscribers going forward. But to answer your question, no, it's not another 50,000 this quarter. It's the same 50,000 from the first quarter when we had the initial push. Gregory Pendy--Sidoti & Company, LLC -- Analyst Understood. And then just one more question. I mean, just the bundled offering with FirstDay, it sounds exciting given where you stand, having the college store footprint. But just kind of wondering, I think a competitor of yours in the space is trying to bundle sort of the writings of the -- has at least talked about bundling their textbook solutions and writing solutions. Is that something you guys would be thinking about as well? Michael P. Huseby--Chairman and Chief Executive Officer So I alluded to in my comments actually that we do have some schools that are interested in it, and from our personal perspective, our home run would be in addition to selling it direct to students, if you put yourself in the place of a student or a parent that's looking at a bill for inclusive access and that bill includes tuition, it includes your course where in other words your books are digital access codes or your access to digital content. It also includes some digital products, it could be Bartleby Learn, it could be Bartleby Writing, which we're just releasing, self-tutoring, self-study aids that's all included in, one inclusive access package whether it's build in one amount to all students or whether it's different, which we thought FirstDay complete or different model, I think you can see that. These students -- these schools, rather, that are competing with each other, we can offer them a lot of value in an inclusive access package. Not all schools want to have Bartleby in their lineup to offer. Many do if you look at those that are -- especially community colleges and others, large foyer public schools. They're looking to pack as much value into these packages that they can get to give the most value to the students which equates to affordability win. So that's something we're exploring with schools. When you think about selling subscriptions on a la carte basis and you think about bundling in thousands of subscriptions at a time and institutionalizing them and the cost of that and what the churn would be going forward, relatively flat, relatively zero. That's the discussion we're having but we don't have that in place. As I said, we're exploring it, and I think that it gives us an interesting conversation that we can have with schools that really want to provide as much possible value and an inclusive access package as possible. As it relates to the illusion to the competitor, I don't think -- I think that we're designing Bartleby under Kanuj's supervision to be much more institutional-friendly than maybe the -- some of the other products that are out there that aren't really viewed that way by the institutions. So that's different. We can sell it out of footprint a la carte as well but in footprint, every school we serve has a different way of looking at how they want to teach their students and we respect that and, therefore, we're customizing what we do with our institutional partners. That gives us the ability to customize all these different tools we have. Gregory Pendy--Sidoti & Company, LLC -- Analyst Okay. That's helpful. And then just one final one if I could get one more question in. You mentioned 78, I think, store openings. Can you just talk a little bit, is that wins or is that Company a lot -- are you seeing colleges kind of move to the outsourcing model? I think roughly 50% of college bookstores are still managed internally. Can you just kind of give us a sense on just the overall environment? Are you seeing it -- that shift continuing? Or is it just a less competitive environment than last year from winning new campuses? Lisa Malat--Chief Operating Officer of Barnes Noble College As I -- this is Lisa. So as I was mentioning before, definitely the complexity in the market is creating a lot of opportunity for us to grow the top line. So, truly a combination of both, but we're continuing to see a shift of self-operated bookstores looking to -- looking for solutions, looking for experts, looking for innovation, which is why the products and services we are bringing to the market are resonating. Gregory Pendy--Sidoti & Company, LLC -- Analyst Okay, great. Thanks helpful. Michael P. Huseby--Chairman and Chief Executive Officer And we're also competing head-to-head with our primary competitor in that field and feel like we're doing well in that regard as well. So, at least, that's a combination of both. Lisa Malat--Chief Operating Officer of Barnes Noble College Yeah. Gregory Pendy--Sidoti & Company, LLC -- Analyst Okay, great. Thanks a lot guys. Michael P. Huseby--Chairman and Chief Executive Officer Thanks, Greg. Operator And there are no further questions at this time. I'll turn it back over to Mr. Donohue. Thomas D. Donohue--Executive Vice President, Chief Financial Officer Thank you for joining today's call. Please note that our next scheduled financial release will be our fiscal 2020 first quarter earnings call on or about August 27. Thank you, and have a good day. Operator Ladies and gentlemen, this concludes today's conference call. You may now disconnect. Duration: 45 minutes Thomas D. Donohue--Executive Vice President, Chief Financial Officer Michael P. Huseby--Chairman and Chief Executive Officer Alex Fuhrman--Craig-Hallum Capital Group LLC -- Analyst Kanuj Malhotra--Executive Vice President, Corporate Development and President, Digital Student Solutions Ryan MacDonald--Needham & Company, LLC -- Analyst Lisa Malat--Chief Operating Officer of Barnes Noble College Gregory Pendy--Sidoti & Company, LLC -- Analyst More BNED analysis Transcript powered byAlphaStreet This article is a transcript of this conference call produced for The Motley Fool. While we strive for our Foolish Best, there may be errors, omissions, or inaccuracies in this transcript. As with all our articles, The Motley Fool does not assume any responsibility for your use of this content, and we strongly encourage you to do your own research, including listening to the call yourself and reading the company's SEC filings. Please see ourTerms and Conditionsfor additional details, including our Obligatory Capitalized Disclaimers of Liability. More From The Motley Fool • 10 Best Stocks to Buy Today • The $16,728 Social Security Bonus You Cannot Afford to Miss • 20 of the Top Stocks to Buy (Including the Two Every Investor Should Own) • What Is an ETF? • 5 Recession-Proof Stocks • How to Beat the Market Image source: The Motley Fool. Motley Fool Transcribershas no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has adisclosure policy.
Attention 'Boy Meets World' Fans: The Matthews' House Finally Sold for $1.3 Million Photo credit: Craig Sjodin / Contributor - Getty Images From House Beautiful Part of ABC’s classic ‘90s lineup, Boy Meets World introduced viewers to 11-year-old Cory Matthews and his world of family and friends who help him navigate the different paths of life, from childhood to adulthood. Centered around the lively Matthews family , the sitcom starts off with Cory and Shawn Hunter as sixth-graders. His teacher, Mr. Feeny, becomes an integral part of their lives, always keeping them on track by incorporating words of wisdom into his class lessons. Boy Meets World follows the journey of Cory, Shawn, Topanga Lawrence and Cory's brother, Eric Matthews , experiencing life's ups and downs together. Whether you watched the series growing up or are only just discovering this cult favorite, the Matthews house is an unforgettable landmark of the hit show. Here's everything you need to know about what happened to the house in Boy Meets World . Who lived in the Boy Meets World house? Throughout the seven seasons of Boy Meets World , Cory and the rest of the Matthews family lived in a two-story home in Philadelphia, Pennsylvania. As Cory and his three siblings grew up, viewers saw them transition from sharing bedrooms to moving out as adults, but they always came back to their childhood home. Of course, the Matthews' household wouldn't have been complete without Cory's best friend, Shawn, along with his childhood sweetheart, Topanga. Episodes explored the root of family issues, the complexity of relationships, and the celebration of several graduations-all while making fans laugh, relate, and get all the feels. Where is the Boy Meets World house located? Photo credit: CBS While the show’s setting was in Philadelphia, the Boy Meets World house is actually located across the country in Studio City, California at 4196 Colfax Ave . Built in 1940, the home was only used for exterior shots, and no filming took place inside of it. Instead, the show’s creators built a separate interior set on a studio. This gave them the freedom to come up with their own original floor plan that worked best for the storyline. Story continues What happened to the Boy Meets World house? View this post on Instagram The Matthews Family, 1993 A post shared by Ben Savage (@bensavage) on Feb 5, 2015 at 1:15pm PST In 2016, the 2,108-square-foot house made headlines when it hit the market for a whopping $1.595 million. According to Trulia , the Boy Meets World house was sold in February 2017 for $1.299 million and continues to be the home of a lucky family. When taking a closer look, it’s clear that the Boy Meets World house is different than the one shown on television. The California house has two bedrooms, two baths with a spacious kitchen, bright sunroom, formal living and dining rooms. Without a doubt, the master bedroom is a standout part of the beautiful home with its own cozy fireplace and a private sun deck. But it’s the guest house that’s the true bonus of the Boy Meets World house. The 880-square-foot detached guest house (with a garage!) makes hosting a breeze. And yes, there's no treehouse in sight, but there are green gardens, a pergola perfect for the summers, and outdoor dining areas to enjoy with loved ones. Can I visit the Boy Meets World house? If you happen to recognize the Boy Meets World house while out on a stroll, you have the liberty to take a picture, but the private gate and tall hedges discourages fans from doing so. Currently, the Boy Meets World house is a private residence and loyal viewers of the ‘90s sitcom can’t step inside the home. Luckily, you can walk down memory lane by re-watching all seven seasons of Boy Meets World on Amazon and Hulu . And if that's not enough, continue on Cory and Topanga's adventure in Girl Meets World with their daughter Riley, also available on Amazon . Follow House Beautiful on Instagram . ('You Might Also Like',) 7 Secrets HomeGoods Employees Won't Tell You 19 Closet Organization Ideas You'll Want to Steal Immediately 15 Styling Tricks That Make A Small Living Room Seem Bigger Than It Is
What Does the Trustee of a Trust Do? These are the duties and responsibilities of a trustee. A trustee is the individual appointed to administer assets or property for the benefit of a third party. A trustee could be appointed for the purpose of bankruptcy, a charity or certain kinds of retirement plans, but the most common is a trust . A trust is a legal agreement designed to control how an individual leaves an estate to their heirs. Many people choose to create trusts to protect the interest of their beneficiaries. Also, trusts help them avoid the costs of probate or working with the courts to transfer wealth. The owner of the trust, known as the grantor, must appoint a trustee to administer their wishes outlined in the trust. While it may seem like an honor to take on the role of a trustee, it comes with significant responsibilities. We’ve broken down what a trustee is, their responsibilities and duties, and how to appoint one. What Is a Trustee? A trustee is an individual – typically a lawyer, accountant or family member – responsible for administering the wishes of the grantor for the benefit of a third party. The most common type of trustee is a successor trustee who is responsible for handling property and other assets within the trust in the case that the grantor dies or becomes incapacitated. All trustee duties are distinctive to the specific trust agreement and directed by the type of assets in the trust. Additional responsibilities of a trustee may include tax filing for the trust and distribution of assets according to the guidelines of the trust. There are very few qualifications required to serve as a trustee. A grantor can appoint someone a trustee as long as the individual is at least 18 years old and is not likely to become bankrupt or mentally incompetent. Grantors can also be the trustee themselves, as long as the trust is a revocable living trust . This means the trust can be changed during the grantor’s lifetime. However, if the trust is an irrevocable trust , the grantor must name another individual as the trustee. Story continues What Are the Duties and Responsibilities of a Trustee? Fiduciary One of the most critical responsibilities of a trustee is the fiduciary or loyalty duty . A trustee must put the interest of the trust above all others. The fiduciary duty obligates a trustee to maintain five essential responsibilities: Protect and preserve the trust’s property and assets. Defend all beneficiaries and the trust against legitimacy challenges. Separate the trust’s assets and property from the trustee’s property. Trustees who co-mingle assets are liable for any losses as a result of combining wealth. Handle all assets with care and attention to detail. Complex assets may require greater attention to detail. When acquiring, selling, managing or investing the trust’s property, the trustee must proceed with caution. Typically, these duties and responsibilities require a substantial commitment. The fiduciary standard requires that the trustee pay closer attention to the investments and assets of the trust than their own accounts. Asset and Property Management These are the duties and responsibilities of a trustee. Beyond the fiduciary standard, a trustee may need to oversee bank accounts, file tax returns, and pay bills and expenses. Trustees may also collect rent or unpaid debts, obtain insurance or complete other tasks that are written into the trust or mandated by state law. A trustee must manage the funds and assets of the trust with the utmost care. Some of the other asset and property management duties that come with being a trustee include: Distributions. Some trustees may have discretion when it comes to making distribution decisions. Trustees need to evaluate the beneficiaries’ needs, other sources of income and responsibilities to the other beneficiaries. Often, the trustee must set limitations and boundaries on the use of all trust assets. Taxes. Depending on the type of trust, the trustee must file tax returns and pay any tax obligation. If the trustee is a good record keeper and allows the accountant to prepare the tax documentation, this task may not require a lot of attention. Delegation. Although you cannot delegate your trustee obligations, you can, however, delegate some tasks. For instance, the trust may allow you to hire financial advisors to handle wealth management, accountants to manage bookkeeping and lawyers to advise the interpretation of trust guidelines. Record Keeping A trustee must keep impeccable records of all the happenings related to their duties and responsibilities. Good record keeping should include keeping a detailed list of all assets received and spent, as well as receipts and documentation of all trust expenses. Even if a trustee makes a decision with the best intentions in the interest of the beneficiaries, it could still be called into question. And, that decision may even result in litigation if not properly documented. How Do You Appoint a Trustee? You can appoint a trustee in several ways. Generally, the individual that develops the trust appoints the trustees. You can have up to four trustees. Many grantors appoint their executors to also act as trustees. Similar to an executor, you can request professionals to act as trustees, such as an accountant or lawyer. As the case with many professionals, they may require a fee for their services. Choosing one or more trustees may depend on the size and nature of the trust. Therefore, it’s wise to discuss the intricacies with any trustee candidate. When selecting potential trustees, you may want to consider individuals with knowledge of complex matters. These matters can include taxation, fiduciary standards, management of securities and trust issues. Additionally, a grantor may wish to interview corporate trustees. This could help them understand how they work and could contribute to the preservation of their wealth. Once appointed, that individual will be stated in the trust as the trustee. This document may also be known as the declaration of trust. The Bottom Line These are the duties and responsibilities of a trustee. Although a grantor can choose just about anyone to be the trustee of their trust, the role comes with significant responsibilities and duties. A trustee will execute the wishes outlined by the grantor while keeping the beneficiaries’ best interests in mind. Be sure to consider all the duties and responsibilities that come with the role if you’re appointed the trustee of a trust or are looking to appoint a trustee for your own trust. With a little time and careful thought, the right trustee will be selected for the trust. Tips for Estate Planning If you’re ready to develop your own trust, consider enlisting a financial advisor to help. Finding the right financial advisor that fits your needs doesn’t have to be hard. SmartAsset’s free tool matches you with financial advisors in your area in five minutes. If you’re ready to be matched with local advisors that will help you achieve your financial goals, get started now . Whether you’re just starting retirement or just starting a family, it’s never too soon to start estate planning. One of the first steps to estate planning is creating a will and updating it over time. Consider drafting a will so that your property, assets and family are protected in case of an emergency. Photo credit: ©iStock.com/artisteer, ©iStock.com/ilkercelik, ©iStock.com/skynesher The post What Does the Trustee of a Trust Do? appeared first on SmartAsset Blog . Related Articles: Irrevocable Trusts: When Are They a Good Idea? Transfer on Death (TOD) Accounts for Estate Planning How and Where to Create a Will Online
How To Meet Your Goals Using Nontraditional Financial Services While the stock market continues its incredible bull run, most Americans remain on shaky financial ground. According to the Federal Reserve, 40% of U.S. families would suffer a financial hardship over a $400 emergency, and 25% have nothing saved for retirement. America’s savings crisis reflects the harsh reality of rising costs and stagnating wages, but for many, a lack of financial education plays a major role. Some schools have begun to introduce financial literacy courses for students, which could be helpful for these generations. Those who have already left the classroom, though, must educate themselves. With so many options available, where should people begin the search for financial freedom? A good first step is learning to identify and work with customer-centric financial services, which can help even the most savings-strapped Americans prepare for emergencies and start building for the future. Big banks aren’t known for their customer-friendly policies. From account and overdraft fees to more sinister issues like Wells Fargo’s $575 million fake account scandal in 2016, it’s clear that many institutions favor stockholders over customers. However, not all financial institutions fall into this category. Even some former offenders are redesigning their offerings to meet the rising expectations of customer-centric banking, with 85% of traditional banks prioritizing digital transformation. New options enable users to exercise more awareness and control of their financial lives. One mobile-only bank, Monzo, provides users with summaries of late-night purchases and gives them the option to cancel them if those impulse buys don’t sound so enticing the next morning. Credit union USAA uses its digital tools and agent empathy to uncover the needs of customers and provide relevant helpful recommendations. Where major financial institutions used to hold all the cards, today’s customer expectations are starting to shift the balance. Social media allows customers to put banks on blast when they don’t put customers first. New and varied options, including online banks, let customers take their business elsewhere quickly and seamlessly. Clearly, the people now have the power — but what should they do with it? See:Here’s How Much Americans Have Saved For Emergencies in Every State Customers today have plenty of options to save more, spend less, invest smarter and optimize their financial lives. Consider how these three service areas could make a difference: Small changes over time can add up to incredible savings. Seek out apps that help you meet — or exceed — your financial goals by transforming banking from a chore into an enjoyable challenge. Qapital, for example, uses behavioral science to help users gamify their savings and keep weekly expenses in the “spending sweet spot.” When users meet customized triggers — such as skipping a Starbucks run — the app prompts a deposit into savings. Little investments add up, helping the cash-strapped masses save for emergencies without the mental struggle of big money transfers. Many similar financial companies now help users take control. “For most fintech organizations, the primary advantages are an innovation mindset, agility (speed to adjust), consumer-centric perspective and an infrastructure built for digital,” said Jim Marous, fintech writer for Forbes. “These are advantages that most legacy financial institutions don’t possess.” Fintech apps aren’t the only psychology-based services in finance. Financial advisors have begun to consider clients’ individual needs in more detail as expectations of personalized service have risen in recent years. It’s important to work with financial institutions that see customers not as number signs, but as human beings. Some wealth management firms, like JOYN, are using behavioral psychology to help customers factor in their human tendencies as they pursue their financial goals. Rather than encourage users to act like robots or keep everyone on the same path, JOYN advisors practice behavior-based financial flexibility. Wealth management firms that use elements of behavioral psychology work to enable customers to recognize the stressors and life events — such as stock market slumps or even stress at work — that may lead them to make regrettable financial decisions. They then help customers avoid or mitigate those circumstances. According to research from financial services technology provider FIS, the customer satisfaction scores of digital direct-to-consumer banks top those of traditional financial institutions, with 63% of direct bank customers in the U.S. reporting they’re “extremely satisfied.” These banks don’t have physical branches, but they can still provide for all your needs and then some. Digital banks like Revolut and Atom Bank recognize the always-on mentality of the modern consumer and have designed their services to provide highly in-demand benefits including constant access, customized reporting, ATM fee reimbursement and more. U.K.-based Monzo, which started as a prepaid debit card account, has become one of the leaders in the digital banking world. Monzo today focuses on providing a better checking account experience, which many feel larger banks fail to deliver. In addition, Monzo’s blog showcases the company’s commitment to transparency, helping users improve financial literacy and stay informed on the inner workings of the online bank. Its blog features in-depth customer budgeting stories and praises favorite user posts as well. Could your financial life use a boost? Venture beyond traditional options to see what the future has to offer. Fintech apps, behavioral science and online banks are ready to help everyone — from the wealthiest investors to paycheck-to-paycheck workers — take more control of their financial situations. Click through to read abouthow it’s costing people when they don’t understand the basics of banking. More on Money • 5 VIP Private Banking Services You Never Knew Existed • Joint Bank Accounts: What You Need To Know • 96% of Americans Are Missing Out on Major Savings Using This Trick This article originally appeared onGOBankingRates.com:How To Meet Your Goals Using Nontraditional Financial Services
Should You Buy Gold ETFs Now? Gold has surged about 12% in the past month and is close to its highest level in six years now, thanks mainly to investors’ search for safer assets amid rising market uncertainty and geopolitical tensions. Rising hopes for a rate cut by the Fed also boosted the appeal of gold as lower interest rates reduce the opportunity cost of owning gold. A weaker dollar makes gold prices attractive to consumers in emerging markets like India and China, which are the world’s top gold consumers. Gold purchases by central banks have soared in recent years and this trend is expected to continue. During the first quarter, gold purchases by global central banks, led by Russia and China, were the highest in six year, according to the World Gold Council. I believe that gold should be a small part of any investment portfolio, mainly due to its low correlation with other asset classes. Physically backed gold ETFs provide low-cost, convenient exposure to the metal. Investors should look at the expense ratio, trading costs and gold per share when selecting a gold ETF for their portfolio. The SPDR Gold Trust (GLD) is the largest and most liquid gold ETF. Each share of this ETF represents about 1/10th of an ounce of gold. It has an expense ratio of 0.40%. Last year, State Street launched a cheaper version of GLD—the SPDR Gold MiniShares Trust (GLDM)—which has an expense ratio of 0.18%. The iShares Gold Trust (IAU), the second largest gold ETF, comes with an expense ratio of 25 basis points. The GraniteShares Gold Trust (BAR) is one of the cheapest gold ETFs, with an expense ratio of 0.1749%. Each share of IAU, BAR and GLDM represents 1/100th of an ounce of gold. To learn more about these ETFs, please watch the short video above. Want key ETF info delivered straight to your inbox? Zacks’ free Fund Newsletter will brief you on top news and analysis, as well as top-performing ETFs, each week.Get it free >> 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 reportiShares Gold Trust (IAU): ETF Research ReportsAberdeen Standard Physical Swiss Gold Shares ETF (SGOL): ETF Research ReportsSPDR Gold Shares (GLD): ETF Research ReportsSPDR Gold MiniShares Trust (GLDM): ETF Research ReportsGraniteShares Gold Trust (BAR): ETF Research ReportsTo read this article on Zacks.com click here.Zacks Investment ResearchWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Demi Lovato has a meaningful, new tattoo Demi Lovato has a new tattoo thats small but packed with meaning. The singers new ink reads simply, me, on the inside of her left ring finger. As she described it on social media, its a forever reminder of the motto me first. View this post on Instagram A post shared by Demi Lovato (@ddlovato) on Jun 27, 2019 at 7:34pm PDT The 26-year-old former Disney star has amassed a number of tattoos since she was a teenager, including the word Free on her right pinky finger, flying birds on her forearm and the words Let Go and Let God across her feet. She introduced her latest addition at a time when she appears to truly be committed to self-care, following a drug overdose in July 2018. Lovato entered rehab immediately afterward and, while she eventually completed her treatment, she reportedly checked into a rehabilitation facility on her own to maintain her health in the spring. Demi Lovato attends the 2018 Billboard Music Awards on May 20, 2018, in Las Vegas. (Photo: LISA O'CONNOR/AFP/Getty Images) Lovatos latest ink comes by way of tattoo artist Daniel Winter, who goes by the name Winter Stone, whos celebrity clients also include Lovatos friend Joe Jonas, Lady Gaga and Miley Cyrus. Her fans were all about it. Simple but so beautiful, one gushed. Another commenter took the moment to encourage others: Dear person reading this, you deserve a life full of happiness and positivity. So don't let others get to you, just believe in yourself. You're full of greatness. This is really beautiful and meaningful, a Lovatic wrote. You should always put yourself in the first place because YOU must be the most important person in your life. Love you, keep going girl. Read more on Yahoo Entertainment: Jake Gyllenhaal argues Sean Paul 'makes every song better,' delighting the internet Items from Disneyland's 'Star Wars': Galaxy's Edge are popping up on resale sites Beth Chapman's daughter Bonnie pays tribute to her late mom: 'So thankful I got your beautiful smile' Want daily pop culture news delivered to your inbox? Sign up here for Yahoo Entertainment & Lifestyle's newsletter.
A Call is a Put and a Put is a Call - Even in Spreads “A call is a put and a put is a call.” When I first went to work for an options market-making firm 22 years ago, I heard that phrase many times every day. The wily options-trading veterans that trained us drilled it into our heads until it became second nature. They were trying to make sure we understood the principle of call-put parity. By the time I was responsible for my own position about a year later, the reports I looked at detailing the options I held (or was short) strike by strike, didn't even differentiate between puts and calls - it aggregated the total on each strike because the diifference was meaningless to me. That same logic applies to spreads as well. This week, during a conversation with two colleagues, we were discussing methods of analyzing the profit profitability of various bull call vertical spreads. When discussing an in-the-money vertical spread, I offhandedly commented that I’d probably never trade in-the-money options on purpose because of the lower liquidity and wider spreads, and that I’d just sell the put spread instead. I understand this can be counter-intuitive, but I promise I can make it make sense. The spread: Let’s say you thought that shares of theWalt Disney Company (DIS)– which currently trade around $139 - were going to continue to drift higher through the rest of 2019 and had little chance of a steep decline. You decide to buy the 115 calls that expire in January 2020 and sell the 120 calls. As long as Disney stays above 120, that spread will be worth exactly $5 at expiration. If you buy the spread for a net debit of $4, and Disney stays above 120 between now and expiration, you’d make $1 per spread - your $4 premuim becomes $5. If the shares are below 115, you’d lose the entire $4 in premium you spent. Your breakeven is $119/share. The p/l diagram looks like this: But, if you instead sold the 120 puts and bought the 115 puts for a credit of $1, your profit potential and risk are the same. If Disney stays above $120, you keep $1, below $115, you lose $4. Breakeven is $119/share. It's exactly the same! However… Here are the recent market prices of those options: Bid Ask 115 Call $25.80 $26.05 120 Call $21.60 $21.85 If you bought the offer on the 115 call and sold the bid on the 120 call you’d pay a total of $4.45. If Disney stays above $120/share between now and expiration, you’d make a profit of $0.55/spread. If the shares are below $115 at expiration, you’d lose the entire $4.45 in premium you paid. Here are recent market prices for the puts: Bid Ask 115 Put $1.87 $1.92 120 Put $2.73 $2.78 In this case, if you sold the bid on the 120 put and bought the offer on the 115 put, you’d collect $0.81. This becomes your maximum profit,almost doublethe maximum profit on the call spread, and also reduces your maximum risk to $4.19. In this example, it’s easy to see that the culprit is the width of the bid/ask spread. The in-the-money calls are $0.25 wide and the out-of-the-money puts are only $0.05 wide. The amount of bid-ask spread you pay when entering a trade can significantly skew your chances of profitability. Even though it mightseemscarier to sell a spread than buy one, in actuality they have exactly the same risk/reward profile. By selling the put spread instead of buying the call spread, you can change the potential for profit significantly in your favor. The upshot is that if you’re considering trading in-the-money options – even as part of a spread – it’s very likely there’s a more attractively priced trade in out-of-the-money options that accomplishes the same risk/reward goals at a more attractive price. Just remember – “A call is a put and a put is a call.” -Dave 5 Medical Stocks to Buy NowZacks names 5 companies poised to ride a medical breakthrough that is targeting cures for leukemia, AIDS, muscular dystrophy, hemophilia, and other conditions. New products in this field are already generating substantial revenue and even more wondrous treatments are in the pipeline. Early investors could realize exceptional profits.Click here to see the 5 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 reportThe Walt Disney Company (DIS) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research
U.S. banks play cat-and-mouse game with Fed on capital returns By Matt Scuffham and Pete Schroeder NEW YORK/WASHINGTON (Reuters) - An annual stress test of banks introduced by U.S. regulators after the 2007-09 financial crisis to prevent taxpayer bailouts has become a fight over how quickly lenders can return capital to shareholders. Helped by a buoyant U.S. economy, tax cuts and record profits, the country's biggest banks are ramping up payouts to shareholders through dividends and share buybacks. But their plans to return capital are pushing the boundaries of what regulators will tolerate, analysts and regulatory sources say. The Federal Reserve on Thursday approved the capital plans of 18 banks in this year's test, although it placed conditions on the U.S. operations of Credit Suisse Group AG after identifying weaknesses in its capital planning. JPMorgan Chase & Co, one of the best capitalized U.S. banks, had to resubmit its proposal after the Fed assessed its initial plan would result in it falling below the minimum capital it is required to hold to cope with a downturn. The bank eventually won the regulator's approval for a capital plan that will increase its quarterly dividend to 90 cents per share from 80 cents, starting in the third quarter, and buy back up to $29.4 billion of shares over the next year. The Fed began publishing the results of the capital planning check in 2012. It is the second part of the Fed's annual test of banks, assessing what level of cash banks can return to shareholders through dividends and share buybacks. Federal Reserve Chairman Jerome Powell has emphasized that banks are in a much stronger position now than they were before the crisis and has said he believes the amount of capital reserves in the banking system is appropriate. With the Fed no longer pushing lenders to increase capital reserves each year, and banks growing comfortable with the stress testing process, they may be getting more aggressive with their capital plans, a senior Fed official said Thursday. As they push to maximize shareholder payouts, banks run a greater risk of seeing their capital levels dip below regulatory minimums when run through a hypothetical economic downturn. That's what happened to JPMorgan this time. After the bank resubmitted its plan with a lower payout rate, it was approved. The Fed permits banks to adjust their capital plans once after submitting them to stress testing, but only if their initial plans prove to be too aggressive, giving the firms some incentive to push the limit. "It really allows banks to push to the boundaries," said Adam Gilbert, global regulatory leader of PwC's financial services advisory practice. "It enables them to be strategically aggressive." There is little doubt that banks are becoming more headstrong. Fitch analyst Bain Rumohr said that, for this year, U.S. banks' payout ratios - the percentage of earnings they payout as dividends and share buy backs - have risen to over 100% of earnings, compared with 80% to 90% last year. In essence, some banks are planning to pay out more in share buybacks and dividends than they will earn in the current year. JPMorgan has repurchased more than $80 billion worth of stock since July 2016 and has been upping its rate of buy backs each year. Fitch estimates its projected payout ratio to be 110% if it fully executes its share buy-back plan this year. Goldman Sachs Group Inc and Morgan Stanley received conditional passes in the test last year, meaning they could not increase their capital distributions to shareholders. Rumohr said he anticipates more banks could be asked to resubmit plans going forward if current market trends continue. "We wouldn't be surprised to see one to two banks have to resubmit during each year's process," he said. (Reporting by Matt Scuffham and Pete Schroeder; Additional reporting by Liz Dilts; Editing by Lisa Shumaker)
All backgrounds bet on becoming World Series of Poker champ Tens of thousands of professional and amateur poker players go on a pilgrimage to Las Vegas every summer in hopes of returning home richer, owning a gold bracelet and having considerable bragging rights. They are young and old and overwhelmingly male. They are college dropouts and accountants, entrepreneurs and CEOs, actors and athletes, psychologists and comedians. And they all have a chance of becoming world champions. At the World Series of Poker — now marking its 50th edition — everything is possible. "The beauty of poker is anyone can enter and anyone can win," said Ty Stewart, the series' executive director. "We all love the stories of overcoming challenges, at defying the odds. This occurs regularly at the World Series of Poker." Cowboy gambler Benny Binion probably wouldn't recognize the tournament today. He started it in 1970 as an invitation-only event with a few men gathered at his casino in downtown Las Vegas. They were all elite players, and Johnny Moss was declared the winner by the other men at the table. Moss got a trophy. There was no multimillion-dollar prize pool, no constant television coverage and definitely no smoking ban. It has transformed into a phenomenon that has paid almost $3 billion in prizes — minting millionaires, airing live on ESPN and streaming online. The series is well positioned to set an attendance record this year, with 122,473 entries so far. Its marquee contest, the $10,000 buy-in no-limit Texas Hold 'em main event, kicks off Wednesday. The no-limit betting rules mean players can wager all their chips at any time. The tournament this year runs through July 16 at the Rio All-Suite Hotel and Casino, off the Las Vegas Strip. It features different poker variations, with buy-ins for the events ranging from $400 to $100,000. The series saw a record 123,865 contestants in 2018, when the prize pool of over $266 million was divided among 18,105 participants. Twenty-eight of them earned at least $1 million. Every champion received a gold bracelet under a tradition started in 1976. Story continues "When we started out, there were very few people from outside the United States that were playing with us," said T.J. Cloutier, 79, a six-time bracelet winner from Richardson, Texas. "And now there's a ton of people, and they are from all over." More than 100 countries were represented in last year's tournament. Poker's popularity in the U.S. erupted in 2003, when Tennessee accountant Chris Moneymaker entered a $39 online poker satellite contest, won an entry to the main event and emerged victorious, earning $2.5 million and inspiring other amateur players. Many had been honing their skills — and building a bankroll — through online games. A year earlier, so-called hole-card cameras were introduced to the series' broadcasts, allowing viewers to see the cards participants were holding and play armchair quarterback. "When you watched it on TV, it was like watching paint dry," said Cloutier, who has finished the main event twice as runner-up and once each in third and fifth place. "Now, you could actually watch the tournament and know what was going on." Entries to the 2004 tournament increased by 85%. By 2006, the main event got a record number of players. But then poker began to lose steam in the U.S. Participants in the series' main event fell by 28% in 2007, when the government cracked down on online wagers. The Department of Justice in April 2011 then delivered a stronger blow when it seized the domain names of the largest offshore poker sites catering to U.S. customers. While participation in the series has set records since 2013, the main event has remained below the 2006 record. The overall increase is tied to the addition of events with smaller buy-ins. "There are events for a wider group of people," poker pro Daniel Negreanu said. "What that does is it attracts a much wider skill set of players. You have your hometown hero who comes out to Las Vegas to give it a shot as well as, of course, all the top professionals in the world." Series owner Caesars Interactive Entertainment is holding an awards ceremony Saturday to celebrate the 50th milestone. The company allowed fans to choose some players being recognized, including fan favorite player, the series' "favorite bad boy" and the four most important players in the tournament's history. A panel of media and industry experts also revealed this week a list of the 50 greatest poker players in history, including Cloutier and Negreanu. Jacksonville Jaguars defensive lineman Calais Campbell and record-setting Jeopardy contestant James Holzhauer are celebrities who have played this year. Other contestants could become famous overnight. Many of those who remember watching Moneymaker's storybook victory as teenagers and the ensuing poker boom are now competing and winning. "I played all throughout middle school, even as a kid. I was always a big fan, and the personalities in the game were kind of what made it great," said Scott Blumstein, who won $8.1 million as a 25-year-old in 2017's main event. "As a kid, I used to definitely look up to these people, and it's really cool being a part of it now because I definitely watched it and was a fan." ___ Garcia Cano reported from Baltimore. Follow her on Twitter at https://twitter.com/reginagarciakNO .
Halfway through 2019, tech leads on Wall Street By Noel Randewich SAN FRANCISCO (Reuters) - Technology stocks are Wall Street's top performers as 2019 hits half-way, with investors betting on lower interest rates, although Apple <AAPL.O> and chipmakers face turbulence related to the U.S.-China trade war. The S&P 500 information technology index has surged 9% in June, its strongest month in three years. That rally, and the S&P 500's <.SPX> record high on June 21, reflect investors' increased appetite for risk as they become more confident the Federal Reserve will cut interest rates to support a slowing economy. It also shows that Wall Street is mostly confident that U.S. President Donald Trump, who has shown a dislike for stock market downswings, will ultimately resolve his trade conflict with China. Investors were looking for signs of progress from the G20 meeting in Japan, where the United States and China agreed on Saturday to restart trade talks after Trump offered concessions, including no new tariffs and an easing of restrictions on tech company Huawei [HWT.UL], in order to reduce tensions with Beijing. After meeting with Chinese President Xi Jinping at the G20 summit in Osaka, Trump called his talks with Xi "excellent." "The risk to the downside is the greatest. If trade talks break down then we could head lower, probably a lot further, and the tech sector could be a leader to the downside," said Randy Frederick, Vice President of Trading & Derivatives at Charles Schwab. Other investors say their optimism about the tech stocks is grounded in expectations that the sector's earnings growth will outperform the rest of the economy over the next several years. David Carter, chief investment officer at Lenox Wealth Advisors in New York, had said going into the meeting that their expectations for genuine progress on tariffs at the G20 were low. "Tech is less of a short-term tactical play, and more a belief in the long-term growth potential of the space. Certainly, it's affected by tariffs and regulation, but the growth story is still there." Although just short of its April record high, the technology index is up 26% so far in 2019, leading other sectors by far and easily beating the S&P 500's 17% return. Among June's strong performing technology stocks are Nvidia <NVDA.O>, Apple <AAPL.O>, Xerox <XRX.N>, each up over 13%. Facebook <FB.O>, Amazon <AMZN.O> and Netflix <NFLX.O> all rose more than 7% in June, slightly outperforming the S&P 500's increase of just under 7% as investors increased bets on high-growth, volatile stocks. Uncertainty related to the trade conflict and Washington's blacklisting of China's Huawei have pushed the Philadelphia Semiconductor Index <.SOX> down 8% from its record high in April, but it is still up 27% for the year, buoyed by expectations that a slump in global sales is near its bottom and that demand is set to recover. The benchmark chip index has surged over 5% since Tuesday, when Micron Technologies <MU.O> said it resumed some sales to Huawei and forecast a recovery in memory chip demand in the second half of the year. Underpinning not just tech, but most of Wall Street's recent strength, is the recently increased confidence that the Fed will cut interest rates as soon as July, with interest rate futures pointing to three rate cuts this year to support already dwindling economic growth. The recent strong performance of technology stocks comes even as analysts predict a drop in quarterly earnings for the sector, in part due to uncertainty around the trade war. Many U.S. semiconductor companies rely on China for over half of their revenue. (GRAPHIC: Tech earnings expectations - https://tmsnrt.rs/2Ysg1C5) Analysts on average expect the S&P 500 IT sector's earnings per share to sink 8% in the second quarter, compared to a 0.3% increase predicted for the S&P 500, according to Refinitiv's IBES data. S&P 500 semiconductor companies are seen posting a much deeper 28% slump in second-quarter earnings, and a 20% drop for all of 2019. Analysts on average expect Advanced Micro Devices <AMD.O> and rival Nvidia to post declines of over 40% in earnings per share for the quarter. A resolution of the trade conflict would lead analysts to increase their earnings estimates for the technology sector to reflect improved global economic conditions, Frederick said. "The economy really hasn't slowed down that much. That says we're still in a cyclical market and there’s still some upside potential, and tech tends to be one of the leaders when you’re in a cyclical market," he said. (Reporting by Noel Randewich; editing by Alden Bentleym, Chizu Nomiyama and Sandra Maler)
10 Top-Rated Mid-Cap Stocks to Buy Now Getty Images When chosen wisely, mid-cap stocks can offer outsize growth potential and stability. Like their small-cap cousins, mid-caps - typically stocks with market values of roughly $2 billion to $10 billion, but some systems allow up to $20 billion - have ample room to grow. On the other hand, like large-cap firms, they tend to have more balance sheet strength and a surer footing in their respective industries. When it comes to finding this happy middle of risk vs. reward, investors can lean on quantitative analysis. QA takes a wide swath of fundamental, technical and other data, runs it through a mathematical model and calculates a recommendation. This usually is the preserve of so-called quant funds, which guard their methods jealously. But thanks to StockReports+ from Refinitiv, we know what at least one quant model has to say. StockReports+ combines a weighted quantitative analysis of six widely used factors: earnings (including estimate surprises and analyst recommendation changes, among other factors; fundamental analysis, which encompasses profitability, debt and dividends, among other considerations; relative valuation, which looks at measures such as price-to-sales and price-to-earnings ratios; risk, which considers magnitude of returns, volatility and other factors; price momentum, which is based on technical performance factors such as seasonality and relative strength; and insider trading, which looks at whether top corporate executives have been net buyers or sellers of their company's stock. The result is a score from 1-10 (10 being the most positive), then certain factor scores are weighted to spit out an "optimized score" that has shown to be the best predictor of future returns. It's a lot to digest. But these are the top 10 mid-cap stocks to buy right now, based off their high marks from quantitative analysis by StockReports+. They all have earned 10s, but are ordered by the underlying strength of their perfect grades, from weakest to strongest. Story continues SEE ALSO: 15 Mighty Mid-Cap Stocks to Buy for Big Returns 10. Heico Getty Images Market value: $17.6 billion Dividend yield: 0.1% StockReports+ scores: Earnings (10), Fundamental (10), Relative Valuation (1), Risk (7), Price Momentum (10), Insider Trading (8) Optimized total score: 10 Heico ( HEI , $131.55), provides replacement parts, services and accessories for the aerospace, defense and telecommunications industries. Its market cap of $17 billion-plus is larger than what many consider to be mid-cap stocks, but parameters differ from system to system. It's something of a niche business, but a nicely profitable one. For the 12 months ended April 30, Heico enjoyed operating profit margins of more than 22%. That helps explain Heico's top quantitative scores for earnings and fundamentals. The company also makes income investors a priority. In mid-June, it declared its 82nd consecutive semi-annual cash dividend. HEI also gets a perfect 10 for price momentum, aided partly by a nearly 70% year-to-date gain. (The Standard & Poor's 500-stock index is up roughly 17% in the same time frame.) The run-up in shares - Heico returned nearly 400% over the past five years - has made them pricey. With shares changing hands at more than 56 times expected earnings, HEI trades 68% above its own five-year average, according to StockReports+. But you're at least buying some growth - analysts broadly expect the company to deliver average annual earnings growth of almost 18% over the next five years. Their average recommendation on HEI is "Buy." SunTrust recently weighed in, rating shares a "Buy" thanks in part to market-share gains and ample capacity for mergers and acquisitions. SEE ALSO: The Berkshire Hathaway Portfolio: All 48 Buffett Stocks 9. PagSeguro Digital Market value: $12.3 billion Dividend yield: N/A StockReports+ scores: Earnings (10), Fundamental (9), Relative Valuation (4), Risk (4), Price Momentum (10), Insider Trading (N/A) Optimized total score: 10 PagSeguro Digital ( PAGS , $37.64) - an international entry to this list of mid-cap stocks - is a Brazilian digital-payments platform. And it is set to deliver red-hot profit growth. Analysts expect PAGS to generate average annual earnings growth of nearly 29% over the next five years, according to Refinitiv data. Revenue is projected to increase 34% this year and 27% in 2020. Of the 15 analysts tracking the stock for Refinitiv, three call PAGS a "Strong Buy" and seven have it at "Buy." For example, Guggenheim analysts recently upgraded PagSeguro Digital to "Buy" from "Neutral," citing its expansion into financial services, which should boost its long-term revenue and earnings outlooks. Indeed, PagSeguro gets a perfect score on earnings and near-perfect marks for fundamentals. The stock is on fire, too, doubling in 2019. Yet shares are trading at 25 times expected earnings - pricier than the S&P 500, sure, but actually a small discount to their own long-term average. PAGS gets neutral marks for relative valuation, but the strong returns and various technical factors mean it also gets a perfect score for price momentum. SEE ALSO: Hedge Funds' 25 Favorite Blue-Chip Stocks 8. CVR Energy Getty Images Market value: $5.0 billion Dividend yield: 6.0% StockReports+ scores: Earnings (6), Fundamental (10), Relative Valuation (8), Risk (4), Price Momentum (9), Insider Trading (N/A) Optimized total score: 10 CVR Energy ( CVI , $49.65) is a holding company with subsidiaries engaged in petroleum refining and nitrogen fertilizer manufacturing. More than 70% of CVI's shares are held by Icahn Capital LP, which is hedge-fund billionaire Carl Icahn's privately owned family office. In late May, CVR Energy said it's considering putting itself up for sale, further fueling a 46% year-to-date rally. CVI gets a neutral score for earnings. Although analysts' average price target has increased "notably" to $44.50 from $40 (up 11.3%) over the past 90 days, that's offset by the company's profits missing analysts' estimates in two of the past four quarters. Fundamentals are another matter. The company's net margin has been higher than its industry average for each of the past five years, StockReports+ notes. A generous dividend yield - and the payout's 37.5% year-over-year growth as of March 31 - also contribute to CVI's perfect fundamental rating. CVI Energy gets a neutral rating on risk but high marks for relative valuation. (At just 14 times forward earnings, CVI is trading at less than half its own five-year average.) The analyst community needs convincing, though; all five analysts covering the stock tracked by Refinitiv call it a "Hold." SEE ALSO: The 19 Best Stocks to Buy for the Rest of 2019 7. Dish Network Getty Images Market value: $17.9 billion Dividend yield: N/A StockReports+ scores: Earnings (6), Fundamental (5), Relative Valuation (7), Risk (6), Price Momentum (9), Insider Trading (9) Optimized total score: 10 Quantitative analysis gives shares in Dish Network ( DISH , $38.17) a perfect optimized score, but some analysts are bullish on the satellite TV company because of its chance to become a player in wireless communications. The company is reportedly in talks to pay at least $6 billion for assets that T-Mobile US ( TMUS ) and Sprint ( S ) will have to unload to win regulatory approval for their merger. The assets would include wireless spectrum and Sprint's Boost Mobile brand. Should the deal come to pass, it could transform Dish from a mere holder of spectrum to a wireless operator just as the industry begins to roll out super-fast 5G networks, note Citigroup analysts, who rate Dish at "Buy." Dish gets neutral scores for earnings, fundamentals, risk and relative valuation. However, by some metrics, shares looks like a big bargain. Dish goes for 16.6 times forward earnings estimates, according to Refinitiv data. That's 33% below the stock's own five-year average, StockReports+ says. Shares also trade at a 5% discount to the S&P 500 on a forward earnings basis. Where Dish stands out on a quantitative basis is price momentum and insider trading. Shares are up more than 53% for the year-to-date and have a head of steam, according to technical measures. The mid-cap stock is less than 8% below its 52-week high, and has notched its highest price momentum value for the past year. Note: June and July also are historically favorable periods for Dish. As for insider activity, top executives have purchased a net of 845,743 shares of this mid-cap stock over the past six months vs. a sector average of just 220,849. SEE ALSO: 10 Top-Rated Mega-Cap Stocks to Buy Now 6. Discovery Getty Images Market value: $15.6 billion Dividend yield: N/A StockReports+ scores: Earnings (3), Fundamental (6), Relative Valuation (9), Risk (8), Price Momentum (9), Insider Trading (9) Optimized total score: 10 Discovery ( DISCA , $29.74) - which operates well-known cable channels such as HGTV, Food Network and, of course, Discovery - has been among several disappointing mid-cap stocks over the past year. Yes, DISCA has climbed 22% since Jan. 1, but that has only helped it close a wide gap between it and the S&P 500 over the past 52 weeks. (The index has Discovery beat by roughly a percentage point.) The upside? Discovery's valuation has been tamped down - it trades at a mere 8 times expected earnings, which is 38% below its own five-year average. It's also 55% cheaper than the S&P 500. Analysts expect the company to deliver average annual earnings growth of more than 19% over the next five years, according to Refinitiv. JPMorgan Chase analysts have an "Overweight" (equivalent of "Buy") rating on DISCA. They cite the "compelling" valuation, management's "upbeat outlook" and a new $1 billion stock buyback program as reasons to buy now. Discovery does have one glaring weakness: poor expectations management. The company has missed Wall Street's profit estimates in nine of the past 12 quarters, weighing on its earnings score. Fundamentals are neutral. Risk, price momentum and insider trading, however, all score near the top of the StockReports+ scale. Per that insider trading: Insiders bought $1,001,969 in DISCA stock in the most recent quarter - the highest level of Q2 buying over the past five years, StockReports+ says. The average buy total for Q2 is $200,394. SEE ALSO: 13 Blue-Chip Stocks to Buy on the Next Dip 5. HanesBrands Getty Images Market value: $6.1 billion Dividend yield: 3.5% StockReports+ scores: Earnings (8), Fundamental (3), Relative Valuation (5), Risk (6), Price Momentum (9), Insider Trading (9) Optimized total score: 10 Shares in HanesBrands ( HBI , $16.99) - the apparel company whose brands include Hanes, Champion, Maidenform and Playtex - are putting up big gains in 2019 after a long period of underperformance. HBI shares have surged 37% year-to-date, but over the past five years, the stock has lost investors 21% ... and that's with dividends factored in! Quantitative analysis suggests this year's run isn't done, however. The high earnings score is predicated in part by analysts' average price target of $19.20, which gives HBI implied upside of 13.5% over the next 12 months or so. The company also beat Street profit estimates for two consecutive quarters. On the other side of the ledger, a long-term growth profit growth forecast of just 2.6%, projected revenue gains in the low-single-digits for this year and next, and 10 straight quarters without a dividend increase all hurt HBI's fundamentals score. Hanes does have price momentum at its back, however. Shares have gained an average of 6.9% in July over the past 10 years, according to StockReports+. That, as well as favorable seasonal trends, gives HBI a price momentum rating of 9 - roughly 50% better than the average apparel & accessories retailer. SEE ALSO: 20 More Best Stocks to Buy That You Haven't Heard Of 4. Ares Capital Getty Images Market value: $7.6 billion Dividend yield: 9.0% StockReports+ scores: Earnings (9), Fundamental (10), Relative Valuation (9), Risk (10), Price Momentum (8), Insider Trading (10) Optimized total score: 10 Ares Capital ( ARCC , $17.73) is an interesting play among these highly rated mid-cap stocks. That's because it's a business development company (BDC) - a special type of corporate structure that provides debt or equity financing to private, medium-sized businesses. These investments can be risky, but they're beloved by income investors because BDCs are required to distribute most of their profits to shareholders in the form of dividends. Investors who are comfortable with the hit-or-miss nature of BDCs (which are sort of like venture capital for regular old retail investors) can reap highly rewarding dividends - sometimes. ARCC's payout currently sits at a whopping 9%. Of the 13 analysts tracked by Refinitiv who cover ARCC, seven say it's a "Strong Buy" and six call it a "Buy." Three rate shares at "Hold." Oppenheimer analysts, who rate shares at "Buy," say ARCC remains a top pick in business development companies. Their average price target of $19 isn't terribly high - it gives the stock implied upside of a little more than 7% over the next year. But add in the hefty dividend yield, and ARCC should continue its market-beating ways. Over the past five years, Ares has delivered an annualized total return of 11.4%. The S&P 500, including dividends, generated an annualized return of 9.2% over the same span. ARCC trades at a deep discount to the S&P 500 on a forward earnings basis, which helps boost its relative valuation score. It's less volatile compared to the S&P 500, which contributes to a perfect risk score. And during the second quarter, insiders set a five-year high for Q2 buying. SEE ALSO: 18 Consumer Staples Stocks to Take the Edge Off Your Portfolio 3. Cadence Bancorp Market value: $2.6 billion Dividend yield: 3.4% StockReports+ scores: Earnings (7), Fundamental (10), Relative Valuation (10), Risk (8), Price Momentum (6), Insider Trading (9) Optimized total score: 10 Cadence Bancorp ( CADE , $20.54), a regional bank with 98 branches across six southern states, has a neutral earnings score - but with a big asterisk. CADE missed a quarterly profit estimate over the past year, which set it back, but it has beaten expectations the other three times, and in April, it topped analysts' average estimate by a solid 15.9%. Wall Street is mostly on CADE's side, too. Of the 10 analysts tracking CADE, two rate it "Strong Buy," while another five have it a "Buy" - and the remaining three are just on the sidelines at "Hold." Stephens analysts, who rate shares at "Overweight," say the stock trades at a "discount valuation due to investor uncertainty around its credit outlook." The bank looks like a bargain by relative valuation, at just 8.4 times expected earnings. That's a 36% discount to CADE's own five-year average and 52% cheaper than the S&P 500. That value proposition is part of why analysts have a nice $25.30 price target on Cadence, which implies another 23% of potential upside. One small knock on the stock? Summer has historically been an unfavorable period for CADE, logging an average price loss of 0.6% in July and 2.5% in August over the past 10 years. SEE ALSO: 25 Small Towns With Big Millionaire Populations 2. Louisiana-Pacific Corp Getty Images Market value: $3.2 billion Dividend yield: 2.1% StockReports+ scores: Earnings (6), Fundamental (10), Relative Valuation (5), Risk (7), Price Momentum (8), Insider Trading (7) Optimized total score: 10 Louisiana-Pacific Corp ( LPX , $25.97) makes siding, oriented strand board (a cousin of particle board), laminated veneer lumber and other new home construction products. It's a boring business - but one that supports a fantastic quantitative score. Fundamentals are aces. One highlight: Louisiana-Pacific's net profit margin of 12.2% is the highest within its Forest & Wood Products industry, says StockReports+. Relative valuation measures are neutral, but only because it's more expensive than its industry peers. That said, LPX trades at a deep discount to its own five-year average on an expected earnings basis. Price momentum gives a big lift to LPX's quantitative score, too. Shares are heading into a historically hot period for performance. Over the past decade, LPX has delivered an average gain of 3.4% in July and 10.3% in August. Louisiana-Pacific gets a neutral rating on earnings, partly because analysts' current-quarter average profit estimate dropped by more than half over the past 90 days. But that doesn't mean the analysts have gone bearish - on the contrary, the average price target of $30.40 implies another 17% upside from current levels. Among the bulls? BMO Capital, whose analysts upgraded LPX to "Outperform" (equivalent of "Buy") from "Market Perform" (equivalent of "Hold") in mid-June. They cited, among other things, Louisiana-Pacific's progress in making itself a more diversified building products company. SEE ALSO: 50 Top Stocks That Billionaires Love 1. Graphic Packaging Holding Getty Images Market value: $4.0 billion Dividend yield: 2.2% StockReports+ scores: Earnings (7), Fundamental (8), Relative Valuation (6), Risk (8), Price Momentum (9), Insider Trading (8) Optimized total score: 10 Tops among these mid-cap stocks is Graphic Packaging Holding ( GPK , $13.71), which makes it all - from cereal boxes to frozen-food packaging to paper cups and plastic lids for hot coffee and more. GPK gets its highest quantitative marks for fundamentals, risk, price momentum and insider trading, but earnings aren't shabby, either. Most recently, on April 23, the company beat Street profit estimates by almost 15%. Analysts also have updated their current-quarter earnings estimates by 8.1% over the past four weeks. Graphic Packaging Holding's competitors might harbor a bit of jealousy, given that their average earnings forecasts have dropped 6% during the same time frame. Robert W. Baird analysts, who rate shares at "Outperform," say GPK stock has frustrated investors for more than two years but are about to break higher. They're one of the 11 analysts who rate the stock a "Strong Buy" or "Buy" equivalent. The other three analysts rate GPK at "Hold." As a group, their average price target of $15.70 gives GPK implied upside of about 15% during the next 12 months or so. Fundamental highlights include year-over-year revenue growth of 25.6% for the 12 months ended March 31, the highest in its industry. Valuation is a mixed bag, because it trades at a steep discount to its own five-year average (based on future earnings estimates), but it trades at a "significant premium" to its peers in the paper packaging industry, according to StockReports+. Lastly, insiders bought a net 220,783 shares over the past six months - well more than triple the sector average of net buying. SEE ALSO: 12 Dividend Stocks That Hedge Funds Love EDITOR'S PICKS The Berkshire Hathaway Portfolio: All 48 Buffett Stocks 25 Small Towns With Big Millionaire Populations 57 Dividend Stocks You Can Count On Copyright 2019 The Kiplinger Washington Editors
The RealReal Shares Rise on Heels of $300 Million IPO Debut Online luxury reseller The RealReal Inc.’s stock rose as much as 50% after raising $300 million in its U.S. initial public offering. The RealReal was trading at $29.86 at 11:18 a.m. in New York on Friday, giving the company a market value of about $2.5 billion. The shares opened at $28, after the company sold 15 million shares for $20 each on Thursday. It had marketed them for $17 to $19. The RealReal,founded by Chief Executive Officer Julie Wainwright, makes it easier to sell and buy used luxury items such as clothing, accessories, and jewelry on consignment by providing platform for transactions and verifying the goods are authentic. While the market is intrigued by its growth, RealReal has yet to make a profit. The company posted a loss of $23 million on revenue of $69 million in the first quarter, compared with a net loss of $14 million on revenue of about $46 million for the same period last year. For all of 2018, it lost $76 million on revenue of $207 million, according to its filings with the U.S. Securities and Exchange Commission. Internet-based apparel resellers like The RealReal,Thredup Inc., and Poshmark Inc. have emerged as trendy alternatives to the second-hand clothing market.The RealReal focuseson luxury apparel items from designers like Hermes and Louis Vuitton, catering to the high-end fashion market, while Thredup and Poshmark feature lower-priced items. Used clothing, footwear, and accessoriesrepresent a $10 billion market in the U.S., according to data from market research firm IBISWorld Pty Ltd. Interest from young, sustainability conscious shoppers has been a boon for the industry, which the firm forecasts will grow around 1.6% a year through 2024. All this has made old clothing a magnet for investment.Venture capital has poured in, with more than $1.1 billion dropped into used-clothing operations over the past several years, according to data compiled by Bloomberg. That included more than $350 million in funding for The RealReal and about $130 million for ThredUp. French startup Vestiaire Collective raised $45 million in June to fuel international growth, bringing its total funds to almost $200 million. The San Francisco-based company now has two brick-and-mortar stores in Manhattan and one in Los Angeles that collect as well as sell goods. —H&Muse of the word sustainableto describe summer fashion criticized —Amazon’snew store for beauty professionalsdisrupting the industry? —Old Navy’sPurple 4th and Belonging anniversarycampaign —Women’s World Cupendorsements in the wings —Big Gay Ice Creamgrowing from coast to coast —Listen to our new audio briefing,Fortune500 Daily GetFortune’s RaceAhead newsletterfor sharp insights on corporate culture and diversity
Reese Witherspoon, Laura Dern and More A-Listers Arrive at Zoe Kravitz's Pre-Wedding Dinner Zoë Kravitz and Karl Glusman are one step closer to walking down the aisle! On Friday, the Big Little Lies star , 30, and her fiancé, 31, held a rehearsal dinner at Restaurant Lapérouse in Paris. The couple had the romantic eatery all to themselves as they started off their wedding weekend with guests such as Zoë’s dad Lenny Kravitz , her mom Lisa Bonet , her husband Jason Momoa , Bonet and Momoa’s 11-year-old daughter Lola , Cara Delevingne , Chris Pine and his girlfriend Annabelle Wallis , Marisa Tomei and Denzel Washington and his wife Pauletta . Zoë’s BLL costars Laura Dern , Reese Witherspoon and Shailene Woodley also attended. Lapérouse, a historic two-story townhouse along the Seine, is also a favorite of George and Amal Clooney, who stopped in at the restaurant during a romantic Paris weekend in 2017. Karl Glusman and Zoë Kravitz at the 2019 Vanity Fair Oscar Party in February. \| Dia Dipasupil/Getty The wedding will take place this weekend in France, where Glusman planned to propose . But things didn’t go as intended due to their hectic schedules, and he ended up popping the question in their living room. “I was in sweatpants,” Zoë told Rolling Stone in October when she confirmed their engagement. “I think I was a little drunk. I could feel his heart beating so fast — I was like, ‘Baby, are you okay?’ I was actually worried about him! I love that it wasn’t this elaborate plan in Paris. It was at home, in sweatpants.” RELATED VIDEO: Blended Family! Jason Momoa and Wife Lisa Bonet’s Ex-Husband Lenny Kravitz Have Matching Rings The pair met in 2016 and made their relationship public in October of that year when they cozied up at a Kings of Leon concert in New York City. But the actress didn’t particularly have her sights set on marriage when a friend introduced her to Glusman . “I love that it wasn’t on an app and that it wasn’t on a movie set,” she told British Vogue in their July cover story. “My friend knew that I wanted to meet someone — not even to get serious, I think just to get laid, to be completely honest with you — and he brought Karl. I instantly felt something.”
Kylie Jenner Might Be Pregnant Again, According to Khloé Kardashians Instagram Story Ah yes, here we are again. In a tale as old as January , speculation regarding another possible Kylie Jenner pregnancy has started again. Like so many times before, nothing is official or confirmed, yet, but a video from Khloé Kardashian's birthday party has sent Internet detectives into overdrive. As pointed out by US Weekly and Jezebel , a video shared by Khloé from her birthday party has someone uttering the words, "I'm pregnant." There's absolutely no way of knowing who said the phrase, and the birthday party was basically a who's who of Kardashian-Jenner besties , but some believe the voice could be Kylie. Before the rumor mill starts spinning, it's worth noting that not everyone is convinced. Some believe the voice is that of Malika Haqq , and others have pointed out that yes, there were plenty of other people at the party. As for Khloé's part in the announcement, she appeared to continue filming as normal, and resumed with a shot of her lavish birthday snacks. https://twitter.com/alyssabailey/status/1144565893495762944 https://twitter.com/OH_hals/status/1144594917982965760 https://twitter.com/KaynahLassiter/status/1144637812639223809 This wouldn't be the first time that the Internet has incorrectly speculated that Kylie was pregnant. Although the Kylie Cosmetics founder had kept much of her pregnancy with Stormi Webster out of the public eye, there have been continued rumors regarding a possible Kylie pregnancy. Until we hear otherwise, it's best to take this news with a grain of salt, and remain mindful that if and when a celeb does decide to share their pregnancy will always remain up to them. Let us slide into your DMs. Sign up for the Teen Vogue daily email . Story continues Want more from Teen Vogue ? Check this out: Fans Can't Get Over How Much Khloé Kardashian Looks Like Kim in This Photo See the video. Originally Appeared on Teen Vogue
Senate Rejects Measure Forcing Trump To Seek Approval For War With Iran The Senate failed to pass an amendment Friday that would have forced President Donald Trump to seek congressional approval before going to war with Iran , leaving in place broad powers for the president to launch military action. The Kaine-Udall amendment, which Senate Democrats rallied around this week, failed to gain the 60 votes needed to break through the chamber’s filibuster rules . The measure was met with opposition from Republican senators with few exceptions, including Sen. Rand Paul (R-Ky.) and Mike Lee (R-Utah), who supported it. Senate Minority Leader Chuck Schumer touted the vote as proof that Trump should consult Congress on matters of war, given the widespread concern from lawmakers. The final vote tally was 50 in favor to 40 against the amendment. “A bipartisan majority of the Senate today sent an important message to President Trump: you do not have a blank check to pursue another endless war in the Middle East,” Schumer said in a statement, indicating Sen. Chris Coons (D-Del.) would have supported the measure if he’d been able to attend the vote. Senators who backed the amendment hoped the measure would rein in an erratic president who only a week earlier ordered ― and then pulled back ― a military strike on Iran. The amendment signaled widespread concern among Democratic lawmakers that the White House is on a course for conflict with Tehran, and that Congress lacks oversight authority to avert it. Democratic senators pushed for the vote earlier this week by threatening to block the passage of a key defense bill, the National Defense Authorization Act, until Republicans allowed a vote on the amendment. Senate Majority Leader Mitch McConnell (R-Ky.) ultimately acquiesced to the demand and set the vote. It’s unlikely that the amendment would have neutralized Trump’s ability to strike Iran. The president, for instance, could have declared a national emergency in order to justify military action, or he might have refused to sign the defense authorization bill. Story continues The vote began just after 5 a.m. and continued throughout the day in order to give senators a chance to return from the Democratic debates in Miami. But before noon, 40 senators had already voted against the amendment. The relationship between Iran and the United States has broken down since Trump last year withdrew from the 2015 nuclear deal and imposed a maximum pressure campaign of sanctions and military escalation. Tensions have risen to a crisis point in recent weeks, with the U.S. taking increasingly aggressive measures and Iran vowing to violate its end of the nuclear pact and begin stockpiling uranium. Iranian officials met with representatives from the remaining countries in the nuclear deal ― The United Kingdom, China, Russia, France and Germany ― in Vienna on Friday as part of a last-ditch effort to save the agreement. As the economic benefits Iran hoped for as part of the deal failed to materialize amid U.S. sanctions, Iran has repeatedly warned that it has little reason to hold to the pact. This article has been updated with comment from Schumer. Related Coverage Cory Booker Says He Won't Necessarily Rejoin Obama's Iran Deal Trump Blew Up The Iran Nuclear Deal. Now He Wants Allies To Help Him Get An Iran Nuclear Deal. In Japan, Trump Pushes Allies On Trade Before Meeting Putin Love HuffPost? Become a founding member of HuffPost Plus today. This article originally appeared on HuffPost .
Constellation Brands' Sales Jump Amid Restructuring Constellation Brands(NYSE: STZ) is the beer, wine, and spirits company behind top brands including Corona Light, Meiomi, and Svedka vodka. This week, it reported its results from its latest fiscal quarter, showing that demand for those brands and others is increasing, allowing management to boost its outlook for the rest of the year. Here's what you should know about Constellation Brands' recent performance and its forecast. The company's net sales grew at a low-single-digit pace year over year in fiscal Q1, 2020. Operating income dipped slightly because operating margin fell to 29.7% from 30.6% one year ago. An unrealized loss on its investment in marijuana stockCanopy Growthcaused it to report a $245 million net loss in the quarter. However, if you back out thenegative impactassociated with Canopy's losses and declining share price last quarter, its comparable earnings per share improved 9% year over year to $2.40. Metric Q1 FY 2020 Q1 FY 2019 Change Net sales $2.1 billion $2.05 billion 2% Operating income $623 million $625 million (0.32%) Net income ($245.4 million) $743.8 million N/A Diluted EPS ($1.30) $3.93 N/A Data source: Constellation Brands. EPS = earnings per share. FY = fiscal year. N/A = not applicable. In the fiscal first quarter, the company: • Delivered 7.4% net beer sales growth. • Beer operating income increased 11.7% year over year to $581 million. • Generated operating cash flow of $593 million and free cash flow of $437 million, up 18% and 30%, respectively. • Forecast that the sale of some of its wine and spirits brands to E & J Gallo Winery for approximately $1.7 billion will close in the second half of the year. • Wine and spirits sales declined 7.8% year over year, leading to a 4.2% drop in wine and spirits operating income. Beer shipment volume rose 5.4% because of strong demand for Modelo Especial and Corona Premier. Net beer sales were $1.48 billion, and segment operating margin increased 1.5% because of favorable pricing. Shipments in the wine and spirits business declined 8.1% in the quarter. As a result, net wine and spirit sales fell to $620 million from $672 million in the same quarter last year. Segment operating income was $161 million, down from $168 million one year ago. CEO Bill Newlands expressed optimism, highlighting strength in key wine and spirit brands it isn't selling and strong beer sales, particularly for Corona and Modelo: Our wine and spirits transformation strategy is working, led by our collection of Power Brands, which delivered industry leading depletion growth of 4% during the quarter. In addition, our iconic beer portfolio continues to be a cornerstone of growth in the U.S. beer industry driven by double digit depletion growth for Modelo Especial and Corona Premier. CFO David Klein focused on improving cash flows and financial flexibility: We achieved operating cash flow growth of almost 20% and increased our EPS and cash flow projections due to the revised timing of the wine and spirits transaction. In addition, therecent revisionto the duration of Canopy Growth warrants provides incremental long-term flexibility for cash deployment to shareholders. Constellation Brands came into the quarter forecasting fiscal 2020 earnings per share of between $8.50 and $8.80 on a comparable basis, down from $9.34 in fiscal 2019. After its better-than-projected fiscal first-quarter performance, it now expects comparable-basis EPS of $8.65 to $8.95. The guidance is based on assumptions of 7% to 9% net beer sales growth and a 20% to 25% decline in wine and spirits sales following its divestitures. With free cash flow anticipated to exceed $1.2 billion, it should have financial flexibility to execute its transition while maintaining its $0.75 quarterly dividend payment. More From The Motley Fool • 10 Best Stocks to Buy Today • The $16,728 Social Security Bonus You Cannot Afford to Miss • 20 of the Top Stocks to Buy (Including the Two Every Investor Should Own) • What Is an ETF? • 5 Recession-Proof Stocks • How to Beat the Market Todd Campbellhas no position in any of the stocks mentioned. His clients may have positions in the companies mentioned. The Motley Fool recommends Constellation Brands. The Motley Fool has adisclosure policy.
The Democrats need better villains Whose fault is everything that’s wrong? The Democrats don’t have convincing answers. Theyassail President Trump, of course—butworsening income inequality, a stagnant middle class and unaffordable health care were problems well before Trump came on the scene. In some ways, Trump got elected in 2016 because he addressed those issues more persuasively than other candidates. The 20 Democrats who faced off recently in two inaugural debates came up with about half a dozen repeat offenders to explain who’s responsible for the economic strains in America. The most common bogeymen among leading Democrats are “giant corporations” (Sen. Elizabeth Warren), Wall Street banks (Warren and Sen. Bernie Sanders), pharmaceutical companies (Sen. Cory Booker and others), health insurers (Sen. Kamala Harris and others), oil companies (Warren), and billionaires (Sen. Amy Klobuchar). A few companies earned dishonorable mention by name, includingAmazon, General Motors and McDonald’s. These are broadside attacks on private-sector capitalism, and they’re not likely to carry the Democratic presidential nominee to victory in 2020. If Democrats want to play the blame game, they need to find better villains to pin America’s problems on. And a good place to look is in Washington, D.C. [Check out our latest podcast, onMedicare for all: It ain’t all that.] There’s nothing new about attacks on big business by populist politicians trying to rile up the proletariat. But here’s the problem: Americans are sort of getting along with corporate America these days. The big banks (aside from the bumbling Wells Fargo) haven’t wrecked anything lately, and they’re operating more responsibly under new rules put in place after the Wall Street meltdown in 2008 and 2009. Most Americans can get loans for cars andhomes. Interest rates are low. Thestrong labor marketmeans more workers are getting raises and surprising numbers are quitting for better jobs. Oh by the way, about 25 million work for those “giant corporations” Elizabeth Warren vilifies. Does she want none of their votes? Or merely want to turn them against their nefarious employers? Health insurers and pharmaceutical firms are bad guys because they make health care too expensive and confusing. Except more than two-thirds of people with private, employer-sponsored health caresay they like their coverage, with only 6% saying they hate it. Oil companies are bad because they produce the fossil fuel that’s causing global warming. Yet almost everybody travels in vehicles that burn that fuel, making nearly every consumer complicit with the evil oil companies. Amazon (AMZN) is bad because of the low taxes they pay. General Motors (GM)laid off some workersearlier this year because they built an outdated economy car nobody wants to buy any more. And the CEO of McDonald’s (MCD) makes way too much money. That’s why Americans are boycotting these companies en masse, threatening to drive them out of business. Oh wait—that’s not happening, because Americans love Amazon’s fast delivery and McDonald’s bargain meals. They’ve forgiven GM for its ugly bankruptcy and re-embraced its pickups and SUVs. The Democrats bashing these companies are out of step with mainstream Americans who want to get ahead but don’t feel that requires punishing anybody. There are some real problems contained in the Democrats’ grievances, but they stem more from bad Washington policies than from abusive corporate behavior. Amazon’s tax bill, for instance, is low because it takes advantage of tax breaks for things like research and investment. In 25 years, Amazon has grown from a one-person startup to a goliath that employs 600,000 people. If those tax incentives are meant to help companies grow, they worked. If the giveaways are too permissive, Congress should change them. Reining in drug and other health care costs are thorny problems, but pharmaceutical and insurance companies also generate innovations such as HMOs and blockbuster drugs that wouldn’t happen without the profit motive. And while billionaires may make obscene amounts of money, that’s often because they built breakthrough businesses such as Amazon, Microsoft and Apple. Trump is a practiced vilifier who fingers immigrants, China, Mexico, Barack Obama and other convenient targets for the economic pressure many Americans feel. Trump’s rebukes are oversimplified and sometimes flat-out wrong. But his blameful populism got him elected once, and could again. If Democrats want to play Trump’s blame game, they need more believable villains. Or, they could skip the blame and just come up with pragmatic ways to solve problems. Not so long ago, that worked. Confidential tip line:rickjnewman@yahoo.com.Encrypted communication available. Click here toget Rick’s stories by email. Read more: The Democrats need better villains Trump should stop bragging about the stock market How China could meddle in the 2020 election Elizabeth Warren’s best and worst economic ideas Medicare for all won’t work. This might Rick Newman is the author of four books, including “Rebounders: How Winners Pivot from Setback to Success.” Follow him on Twitter:@rickjnewman Read the latest financial and business news from Yahoo Finance
How a trivial cell phone hack is ruining lives On a Tuesday night in May, Sean Coonce was reading the news in bed when his phone dropped service. He chalked it up to tech being tech and went to sleep. When he woke up, his Gmail account had been stolen and by Wednesday evening he was out $100,000. "This is still very raw (I haven't even told my family yet)," Coonce wrote in an anguished Medium post. "I can't stop thinking about the small, easy things I could have done to protect myself along the way." On a Monday night in June, Matthew Miller's daughter woke him up to say that his Twitter account had been hacked. He had no cell phone service; within a few days Miller lost his Gmail and Twitter account and $25,000 from his family bank account. In Miller's case, the attacker deactivated all his Google services, deleted all his tweets, and blocked most of his 10K followers. Once he got his phone number back from the hacker, T-Mobile let the hacker steal it a second time. "I've been considering changing my bank account number, social security number, and other accounts that are critical to living and working in the US," Miller wrote in a post. "I am also freaked out about using cloud services so my strategy at the moment is ... writing my passwords down on paper and leaving everything else off the cloud." Both men were victims of SIM-swap attacks, where someone uses pieces of personal information to convince your cell service provider to transfer (port) your number and associated phone account to a device in the attacker's possession. With control of your phone number and account, they proceed to break into all connected accounts, usually beginning with email. The attacker changes info in your accounts so you can't get them back, sets up email forwarding in case you regain control of your email, and goes through all your cloud-stored documents looking for things of value. It is a uniquely personal and invasive attack. Thanks to Coonce and Miller, we now know a lot more about how these attacks are done, and how terrible the destruction is. In Miller's case, we learned how unhelpful T-Mobile, Google, and Twitter were — with both Twitter and Google, Miller was stuck in a hell of filling out online account recovery forms and sending them off into an abyss of automated response. And for those wondering, Miller used two-factor (text/SMS) as an extra layer of security for his accounts. But with his phone out of his hands, it didn't matter. Story continues 1155556290 Miller eventually recovered his accounts, but only because he is special: In both articles about his experience, Miller mentions his "well-connected friends" at both companies who helped him out, as well as leveraging his platforms as a tech journalist. That is both sobering and problematic, as few regular users have this kind of privilege and access. Like you probably are right now, I'm wondering what kind of hell everyone else would be in. Engadget reached out to both Twitter and Google for comment. We did not receive a response from Twitter by time of publication. According to Google, victims of account hijacking should fill out this claim form . The company also posted information to mitigate SIM-swap attacks and hijacks in this brief October 2018 post about (the 2018) updates to Google's Security Checkup process and sign-in security. Google also indicated that SIM swapping will not compromise a Google account that is protected by two-step verification. Furthermore, the company said a non-SMS two-factor method (like a YubiKey) was an option only if the attacker knows the victim's password. Google recommends Google Prompt or Google Authenticator , with physical keys as the strongest form of two-factor. Google also said that SIM-swap attacks are rare and confined to specific targets, and that most people don't need two-factor stronger than SMS (text-based). Needless to say, Google's email was a confusing response to the details we learned in the SIM-swap attack and account hijacks experienced by Coonce and Miller. And I, for one, believe that saying most people are fine with SMS as their two-factor, that most people shouldn't worry about SIM-swap attacks, is too conservative to feel like safe advice. Especially when we consider the context of two important things. First, that we're hearing about SIM swaps more than ever and only from high-profile techies -- we won't hear about what's happening to regular people. And secondly, there was a big breach which likely made an attack typically considered a high-effort, targeted attack, into a much easier way to grab cash and steal accounts. That T-Mobile data breach was actually a big deal Coonce uses AT&T, while Miller uses T-Mobile and Google Fi. The SIM porting process for both networks has terrifyingly minimal security, both companies had customer pins exposed for an unknown amount of time in 2018, and T-Mobile suffered a fairly recent breach of all the info anyone needs to do a SIM-swap attack. According to AT&T documentation , all that is required for transfer is the information one could find on a recent cell phone bill: Account number, name of the account holder, billing address, and "pin or password if applicable" — noting that the minimal billing info is all that's required if someone "can't remember" their pin or password. It is the same for a T-Mobile transfer, just info on a bill, though they don't state if a password or pin is required at all. In August 2018, T-Mobile was hacked and the billing information of 2.5 million customers was stolen. The company reassured press by stating no financial data was compromised — but I'll bet that wasn't the point. It was all that juicy billing information, with which attackers can get way, way more by SIM porting and stealing people's phone numbers and accounts. The day after T-Mobile's breach news, a researcher discovered that all T-Mobile and AT&T customer account PINs had been sitting there for an unknown amount of time exposed by website flaws . Obviously, the SIM porting processes at both companies should've been made way more secure a long time ago — about the time we started to live our entire lives through our phones. But it became even more urgent for T-Mobile to do so after their massive breach. Yet they didn't, and here we are. SOS — Save our SIMS SIM card character holding crowbar It would be really great if there was a security trick or technique I could offer or recommend for people to do to prevent their SIMs from being ported (swapped, stolen). Like "here's this extra, annoying security step you can add to your SIM account." The truth is, cell carrier companies haven't done much, if anything, to increase SIM security. In January 2018, before that breach, T-Mobile quietly published a post about unauthorized SIM porting in which it recommends that customers add a secondary password to their accounts, which the company calls "port validation." However, nothing about port validation is mentioned on T-Mobile's SIM transfer information page , where a link could seriously raise customer awareness about this very serious threat. On AT&T's " Prevent Porting to Protect Your Identity " page, little is offered outside "don't share your phone number" and "keep your inbox clean." AT&T's only extra security step on offer is "Add all 'extra security' measures to your AT&T Wireless accounts." Following that link , we learn that the "extra security measures" only make it so someone has to provide your pin when signing in online, getting secondary online access, or when in-person in a retail store. Yeah, we're scratching our heads, too. To be clear, AT&T's extra security measures are not anything extra, they just extend pin requirements to do online and in-person account management. Like T-Mobile, no information about unauthorized SIM porting or taking extra security measures is on AT&T's customer information page on SIM transfers . It's bad. And it probably won't change until an executive at T-Mobile or AT&T experiences the stomach-plummeting terror of having their Gmail account taken (along with Google Photos, Google Drive, Calendar, Contacts) and any number of their other accounts raided — like with Miller and Coonce, their Coinbase accounts, and financial accounts drained. Security mistakes were made We can, however, learn from the security mistakes Coonce and Miller made before losing their SIMs and connected accounts. Both state in their write-ups that they are not security nerds, and admit they did some lazy things with general account security that they deeply regret. Coonce wrote , "Given my naive security practices, I probably deserved to get hacked — I get it. It doesn't make it hurt any less (...)" In a heartfelt, raw plea concluding his writeup, Coonce tells readers, "I urge you to learn from these mistakes." So it's pretty easy for attackers to steal our SIMs (port our phone numbers with the associated account onto a phone they control). Especially if you're on AT&T or T-Mobile and haven't changed your pin since all customer pins were found exposed in late 2018 . That means the security mistakes Coonce and Miller are referring to aren't about securing our SIMs, their mistakes were in how their other accounts were — or weren't — secured. If we can't protect our SIMs, we need to secure what they would give a stranger access to. One way both men could have prevented the attackers from getting around two-factor is if they had instead used a physical USB security key, such as a YubiKey or Google's Titan , with accounts that are compatible with these keys. Yes, they can be a pain in the ass when you're in a hurry, even if somewhat conveniently carried on your keychain with your house keys. Yet if someone can intercept your text messages without you even knowing it, it's worth not losing your email account and having your bank balance drained so some jerkface thief can buy Bitcoin. Coonce and Miller regretted having so much personal information about themselves floating around online, though it's difficult to see how anyone can prevent breach data from being passed around. Coonce emphasized that people should use an offline password manager (such as LastPass or 1Password ) to create and securely store complicated passwords. This should be done instead of letting operating systems, browsers, or your Google Account save your passwords. Miller in particular wished he hadn't used the convenient "sign in with your Facebook/Google/etc account" buttons on apps and websites. "In the past I would just click the Facebook, Google, or Twitter button to setup an account or login," he wrote. "I'm done doing that and gave up convenience for better security." Images: Diy13 via Getty Images (Hacker with phone); Talaj via Getty Images (SIM with crowbar) This article contains affilate links; if you click such a link and make a purchase, we may earn a commission.
Why Shares of EQT Are Trading Higher on Friday Shares ofEQT Corp.(NYSE: EQT)were trading more than 9% higher on Friday afternoon after an influential proxy advisory firm backed the slate of directors nominated by a group of dissident shareholders, improving the odds of a shakeup at the natural gas company. Brothers Toby and Derek Rice, who sold Rice Energy to EQT in 2017 and together own about 3% of the company's shares, have been attempting to overhaul the board and install Toby as CEO. They have nominated a slate of directors for consideration at the company's July 10 annual meeting. Institutional Shareholder Services, a proxy advisory firm, on Friday recommended that shareholders vote for the Rice nominees, saying the brothers have "made a compelling case that substantial change at the board level is required." Image source: Getty Images. Shares of EQT have lost more than half their value since the Rice Energy acquisition closed, despite company efforts to streamline costs and aNovember 2018 spinoff of its midstream assets. ISS called the vote "a referendum as to which management team is better suited to run EQT," saying that Rice has a "thorough business plan" and concluding there is "minimal downside risk" to supporting the dissidents. EQT in a separate statement said it disagrees with ISS's recommendation, calling the Rice-backed nominees a "friends and family slate" that are "significantly less qualified, less experienced and highly conflicted." "Unfortunately, ISS has chosen to ignore the progress that EQT has achieved," the company said. "ISS failed to recognize that the Toby Rice Group's campaign is premised on stale arguments that are irrelevant following the significant transformation EQT has achieved." It's now up to the shareholders to decide on EQT's direction. The Rice brothers are said to have the support of large institutional shareholders including D.E. Shaw Group and Kensico Capital Management; proxy firms like ISS can be highly influential in determining how institutional investors, particularly passive mutual funds, vote their shares. EQT is using a universal ballot for its director election, meaning shareholders can pick and choose between management and dissident nominees. Chances are improving that the Rice group will pick up some seats at the annual meeting. Time will tell how many, and what that will mean for EQT's future. More From The Motley Fool • 10 Best Stocks to Buy Today • The $16,728 Social Security Bonus You Cannot Afford to Miss • 20 of the Top Stocks to Buy (Including the Two Every Investor Should Own) • What Is an ETF? • 5 Recession-Proof Stocks • How to Beat the Market Lou Whitemanhas no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has adisclosure policy.
E-mini Dow Jones Industrial Average (YM) Futures Technical Analysis – Straddling Price Cluster at 26601 to 26602 September E-mini Dow Jones Industrial Average futures are treading weather shortly before the close on Friday, but buyers have had the upper hand all session. Nonetheless, gains are also being limited by concerns over the outcome of this weekend’s meeting between U.S. President Donald Trump and Chinese President Xi Jinping at the G-20 summit in Osaka, Japan. At 18:25 GMT,September E-mini Dow Jones Industrial Averagefutures are at 25677, up 31 or +0.12%. Banks stocks are providing the most support with J.P. Morgan Chase jumping 2.8% and Citigroup, Bank of America, Goldman Sachs and Wells Fargo moving higher by 2% or more. The main trend is up according to the daily swing chart. However, momentum has been trending lower since the closing price reversal top was formed at 26922 on June 21. Taking out 26445 will indicate the selling is getting stronger, but the main trend changes to down on a trade through 25897. A move through 26922 will negate the closing price reversal top. This will also signal a resumption of the uptrend. The short-term range is 26922 to 26445. Its 50% level or pivot at 26684 is controlling the direction of the market today. The intermediate-term range is 25897 to 26922. Its retracement zone at 26410 to 26289 is the first downside target. Since the main trend is up, buyers are likely to defend this zone. Based on the early price action, the direction of the September E-mini Dow Jones Industrial Average into the close on Friday is likely to be determined by trader reaction to a pair of Gann angle at 26601 to 26602. This area is pretty close to an exact price cluster. A sustained move over 26602 will indicate the presence of buyers. If this move creates enough upside momentum then look for a drive into the short-term pivot at 26684. Overtaking this will indicate the buying is getting stronger with the next target angle coming in at 26762. A sustained move under 26602 will signal the presence of sellers. If this move generates enough downside momentum then look for the selling to possibly extend into the intermediate 50% level at 26410. Volume and volatility are below average so be careful buying strength or selling weakness. Basically look for an intraday upside bias on a sustained move over 26602 and for a downside bias under 26601. Thisarticlewas originally posted on FX Empire • EUR/USD Mid-Session Technical Analysis for July 1, 2019 • Natural Gas Price Fundamental Daily Forecast – Needs to Hold $2.249 to $2.222 or New Lows Likely Over Near-Term • Risk Green Light at the Open, But Amber is Flashing at the Next Interchange • E-mini S&P 500 Index (ES) Futures Technical Analysis – July 1, 2019 Forecast • USD/CAD Daily Forecast – Pair Rebounding from 3-Month Low amid Renewed Trade Hopes • European Equities: The G20 Summit Sets the Majors Up for a Bounce
France fries: Record heat hits tourists, schools, hospitals PARIS (AP) — Thousands of schools were closed, outdoor events canceled and volunteers were visiting the elderly at home as France and other nations battle a record-setting heat wave baking much of Europe. Several people have died around the continent in incidents that authorities are linking to the weather. A major wildfire raged Friday in Spain, sparked when a pile of chicken dung spontaneously combusted in the heat. Several countries have reported record temperatures this week, and France hit its all-time heat record Friday: 45.9 C (114.6 F) in the small southern town of Gallargues-le-Montueux, according to French media. The French national weather service activated its highest-level heat danger alert for the first time, putting four regions around Marseille and Montpellier in the south of the country under special watch Friday. About 4,000 schools were closed because they couldn't ensure safe conditions. Local authorities canceled several cultural and sport events and many end-of-school-year carnivals. City halls were also sending volunteers to visit elderly people at home to ensure they had fans and water. In Issy-Les-Moulineaux, a southwest Paris suburb, Jean-Jacques Emerjian, 87, and his wife Marie-France, 80 were relieved to see the Red Cross volunteers. Marie-France Emerjian said "with my handicapped husband I am worried because I don't have someone who can come right away (to help). He fell the other night and I couldn't get him up and I was scared. He had a malaise, he fainted." In the northern Paris suburb of Saint-Denis, the Salvation Army day center, which allows migrants living in the streets to take showers, also provided them with lots of bottled water. Paris city hall estimates that about 1,000-2,000 migrants currently live in makeshift camps, which are particularly exposed to the heat. Some criticized the government for going overboard, but Prime Minister Edouard Philippe defended the efforts after 15,000 people died in a heat wave in 2003 that woke up France to the risks. Story continues "This heat wave is exceptional by its intensity and its earliness," he told reporters. "Measures have been taken for the most vulnerable people," he said "But given the intensity of the heat wave, it's the entire population who must be careful today ... both for oneself and for loved ones and neighbors." Italy put 16 cities under alerts for high temperatures, and civil security services distributed water to tourists visiting famed sites around Rome under a scorching sun. Heat was blamed for the deaths of two people in Spain, private news agency Europa Press reported Friday. An 80-year-old man collapsed and died in the street in Valladolid, in northwest Spain, the agency said, and a 17-year-old boy died in the southern city of Cordoba after diving into a swimming pool and losing consciousness. Four people have drowned so far in France this week, and a 12-year-old girl drowned in a river near Manchester, England. France's health minister and British police warned people to swim only in authorized areas. France has also seen an uptick in so-called street-pooling, or illegally opening fire hydrants. A 6-year-old child is in life-threatening condition after being hit by water shooting from a cracked-open fire hydrant in the Paris suburb of Saint-Denis, broadcaster France-Info reported. More than 200 firefighters dealt with dozens of fires in the Gard region, in southeastern France, and a highway was closed for safety reasons. More than 600 firefighters and six water-dropping aircraft were battling the worst fire in two decades in the Catalonia region Friday, as Spain is forecast to endure the peak of its heat wave, with temperatures expected to exceed 40 C (104 F). In Berlin, a police unit turned water cannons — usually used against rioters — on city trees, to cool them down. The World Meteorological Organization said Friday that temperature records for this time of year have been broken in Germany, France, Spain, Switzerland and Austria. Speaking in Geneva, WMO spokeswoman Clare Nullis said Earth is set to experience its five warmest years on record from 2015-2019. The WMO says that increasing greenhouse gas concentrations will fuel global heat and climate change. "It's hitting the poorest and most vulnerable but it will ultimately hit everybody," Nullis said. In Paris, near the presidential palace, about 100 students organized a street protest to urge authorities to take immediate action on climate change. The action ended without police violence. French President Emmanuel Macron presents himself as a champion of fighting climate change, but environmental organizations say that France doesn't do enough to limit the impact of global warming. The heat wave is caused by warm air rising across Europe from north Africa. Hot temperatures are expected to last until Sunday when a cold front will arrive on the continent. ___ Barry Hatton in Lisbon, Danica Kirka in London, Catherine Gaschka in Colombes, France, and Jeffrey Schaeffer in Issy-Les-Moulineaux, France contributed.
Is Trump planning another tax cut? If so, it won’t help middle class Americans much Reports surfaced this week that the White House is working to again rejigger the U.S. tax landscape, this time adjusting the capital gains rules that would substantially cut taxes paid on the sales of stock, real estate or other long-held investments. The administration floated the idea last year, shortly after its tax overhaul law got through Congress. But now it’s out there again, according to a report from Bloomberg. What President Trump has in mind is getting rid of taxing any appreciation tied to inflation when you sell an asset. For instance, if you sold a stock today that had no dividends and that held for five years, you’d pay 23.5% tax on the profits of the sale. But if you stripped out the inflation part, you’d only pay a 20.1% rate, according to thenonpartisan Congressional Research Service. There’d be similar reductions in tax rates for sales of residential and commercial buildings and land. So how would that help you? After the GOP’s last tax, about 80% of taxpayers were estimated to get a tax cut this year, according tothe Tax Policy Center. Market madness?Stocks on pace to post best first half in two decades. Trade deal needed for more gains Avoid thisDoing this one thing with your Social Security could mean losing $100,000 in retirement This new proposal won’t be nearly as inclusive of the everyday folk. About 86% of the savings would go to the top 1% - as measured by adjusted gross income – and 99% of the tax cut would go to the top 20%, according tothe Penn Wharton Budget Model. Here’s why: You’re probably not conducting many transactions that would trigger the capital gains tax. Talking back:Employees speak up at Wayfair, Google. Have Millennials killed being afraid of the boss? Less than a third of Americans hold stocks, bonds, mutual funds or other investments outside retirement accounts that, when sold, would benefit from the inflation adjustment, according tothe 2018 Financial Capability study from the FINRA Investor Education Foundation. Of that third, which Americans are most likely to have these accounts? Those with the highest incomes. The share that hold these investments declines in lockstep with their income bracket. (It's important to note that investments held in retirement accounts like 401(k)s and IRAs are taxed at ordinary income rates when distributed.) Surely, more Americans would benefit from this proposed change when they sell their house? That’s largely not true, either, because many home sellers aren’t subject to the capital gains tax as it is. Thanks to theTaxpayer Relief Act of 1997, there’s no capital gains tax on the profits made from a primary residence’s sale, up to $250,000 for singles or $500,000 for married couples. Other parameters apply. It's possible that a regular Joe who's owned his home since the 1970s in a hot market could surpass those exclusion amounts and benefit from the capital gains change. Otherwise, those mostly likely with a profit above those thresholds – and subject to the capital gains tax – are probably not middle or working class and instead are doing pretty darn well financially. The likelihood that this proposal will pass through regular channels is nil, given the Democrat’s majority in the House. But – in a twist made for a movie – Trump may push the plan through by executive action, according to the report, bypassing Congress altogether, and just in time for the 2020 election. This article originally appeared on USA TODAY:Is Trump planning another tax cut? If so, it won’t help middle class Americans much
Reserve Bank of India Developing Blockchain Banking Platform The Reserve Bank of India (RBI) is developing ablockchainplatform forbankingin its R&D branch, according to areportby BusinessLine on June 28 The blockchain platform will reportedly host a number of blockchain applications, and is slated to launch next year. This model platform is reportedly being designed to serve banks; according to the director of The Institute for Development and Research in Banking Technology, RBI’s R&D branch, the platform is “for blockchain applications for the government in banking.” While RBI appears to be moving into the blockchain industry, it has historically not been keen oncryptocurrencies. In April, the RBIspecifiedthat cryptocurrency projects, including initial coin offerings (ICOs) andcryptocurrency exchanges, would not be permitted in its regulatory sandbox project, unlike blockchain tech. In June, The Economic Times additionallyreportedthat social media giantFacebookis not attempting to register its upcoming virtual currencyLibrawith the RBI, possibly due to the banks ban on serving cryptocurrency-related business. As previouslyreportedby Cointelegraph, banks inSouth Koreaare also exploring blockchain tech, while remaining averse to cryptocurrency adoption. The South Korean government likewise does not permit ICOs in the country. Korean crypto influence Hyun-sik ‘Soso’ Choi has commented on the state of blockchain and crypto in South Korea, saying: “Korean banks are jumping into the blockchain field. While this proves there is huge interest in the technology from traditional finance, all the attempts are on the tech side. They are ignoring the cryptocurrency part.” • Binance Discussing Libra With Facebook, Exchange Exec Reveals • Australian Reserve Bank Official Advises Caution in Anticipation of Libra • A Partner at Binance Labs Expresses Optimism Over Facebook’s Entry Into Crypto With Libra • Goldman Sachs ‘Looking at Potential’ of Creating Virtual Currency, CEO Reveals
Best Blue Chip for Third Quarter The Dow Jones Industrial Average (DJI) is set to wrap up its second-best month since October 2015, with the index pacing for a June gain of more than 7%. What's more, if past is prologue, the summer rally could have legs. According to Bespoke Group, July has been the strongest month of the year for the Dow over the last century, with the index averaging a gain of 1.57% and ending higher 64% of the time. Meanwhile, one blue-chip stock has also outperformed in summertime: credit card concernVisa Inc (NYSE:V). In fact, Visa is the only Dow stock -- and eligible S&P 500 Index (SPX) member -- with at least eight years' worth of returns that has racked up a100% win ratein the third quarter over the last 10 years, per data from Schaeffer's Senior Quantitative Analyst Rocky White. On average, V shares have gained a healthy 7.29% in the quarter. So far in 2019, the blue chip has been on fire. V stock is up more than 30% year-to-date, supported by its 20-day and 50-day moving averages. The equity just notched an all-time high of $174.94 on June 25, before taking a slight breather. From V's current price of $171.42, another 7.3% pop next quarter would place the security just under $184 -- and in uncharted territory. Should the stock extend its third-quarter winning streak, an exodus of option bears could propel V even higher. The stock's Schaeffer's put/call open interest ratio (SOIR) of 0.97 is in the 96th percentile of its annual range, suggesting near-term traders have rarely been more put-heavy in the past year. A short squeeze could also add fuel to Visa's fire. Short interest jumped more than 20% in the past two reporting periods, and now represents nearly a week's worth of pent-up buying demand, at V's average pace of trading.
Top Research Reports for Chevron, Merck & Walgreens Boots Friday, June 28, 2019 The Zacks Research Daily presents the best research output of our analyst team. Today's Research Daily features new research reports on 16 major stocks, including Chevron (CVX), Merck (MRK) and Walgreens Boots (WBA). These research reports have been hand-picked from the roughly 70 reports published by our analyst team today. You can seeall oftoday’s research reports here >>> Outperform-ratedChevron’s shares have outperformed the Zacks Integrated Oil industry year to date (+13.2% vs. +7.9%). The Zacks analyst thinks Chevron is poised for further capital appreciation, riding on its healthy earnings growth prospects. America’s No. 2 energy company’s financial results have greatly improved over the past few quarters, primarily aided by surging production and free cash flow turnaround. In fact, Chevron's free cash flow and upstream production for 2018 hit a record. The company’s existing oil and gas development project pipeline is among the best in the industry, targeting a CAGR of 3-4% through 2023 thanks to the planned expansion in the Permian Basin. Moreover, growing free cash flow should enable Chevron to deliver stable and rising dividends in the foreseeable future. Consequently, Chevron is viewed as a preferred supermajor to own now. (You canread the full research report on Chevron here >>>). Shares of Outperform-ratedMerckhave increased +9.7% year to date, outperforming the Zacks Large Cap Pharmaceuticals industry’s gain of +2% during the same period. The Zacks analyst thinks Merck’s new products like Keytruda, Lynparza and Bridion are contributing meaningfully to the top line. Keytruda sales are gaining momentum with approval for additional indications, especially in the first-line lung cancer setting. Keytruda has strong growth prospects based on increased utilization, recent approvals for new indications and potential additional approvals worldwide. Animal health and vaccine products are also performing strongly and remain core growth drivers for Merck. However, generic competition for several drugs and pricing pressure will continue to be overhangs on the top line. Rising competitive pressure on the diabetes franchise and products like Isentress (HIV), Zepatier (HCV) and Zostavax (vaccine) remain concerns. (You canread the full research report on Merck here >>>). Walgreens Boots’s shares have underperformed the Zacks Drug Stores industry over the past three months, losing -13.8% vs. -6.4%. Walgreens Boots’ third-quarter fiscal 2019 adjusted earnings and revenues outpaced their respective expectations. The Zacks analyst thinks the Retail Pharmacy USA division is witnessing comparable prescription growth and benefitting from a strong retail prescription market.The Pharmaceutical Wholesale division too continues to register strong growth. On the flip side, Walgreens Boots believes that pharmacy trends, which are hurting the overall market, are likely to continue to do so over the coming months. Walgreens Boots reported poor margins in the third quarter largely due to turbulence in the UK consumer markets, low generic deflation, brand inflation and increased reimbursement pressure. (You canread the full research report on Walgreens Boots here >>>). Other noteworthy reports we are featuring today include FedEx (FDX), Allstate (ALL) and Loews (L). Today's Best Stocks from Zacks Would you like to see the updated picks from our best market-beating strategies? From 2017 through 2018, while the S&P 500 gained +15.8%, five of our screens returned +38.0%, +61.3%, +61.6%, +68.1%, and +98.3%. This outperformance has not just been a recent phenomenon. From 2000 – 2018, while the S&P averaged +4.8% per year, our top strategies averaged up to +56.2% per year. See their latest picks free >> Mark VickerySenior Editor Note: Sheraz Mian heads the Zacks Equity Research department and is a well-regarded expert of aggregate earnings. He is frequently quoted in the print and electronic media and publishes the weeklyEarnings TrendsandEarnings Previewreports. If you want an email notification each time Sheraz publishes a new article, pleaseclick here>>> Chevron (CVX) to Gain from Stellar Permian Operation Keytruda Key to Merck's (MRK) Long Term Growth Prospects Retail USA Growth Aids Walgreens (WBA) Amid Reimbursement Woes Productivity Actions Aid Celanese (CE), Weak Demand Ails Per the Zacks analyst, operational cost savings through productivity actions will drive Celanese's profitability. However, lower global demand will hurt the company's volumes. Cost Savings Strategy Aids Deutsche Bank (DB) Amid Low Rates Per the Zacks analyst, cost-savings efforts to drive efficiency are encouraging and might neutralize impact of high legal costs, going forward. Hyatt (H) Relies on Expansion & Acquisition Amid Competition Per the Zacks analyst, Hyatt's acquisition and divestitures is strengthening liquidity. Also, global expansion helps the company gain market share amid a competitive environment Aerospace & Electronics Drive Crane (CR), High Costs Hurt Per the Zacks analyst, solid traction of Crane's Aerospace & Electronics segment fueled by strength in commercial & military aftermarket businesses should drive its sales. High costs remain a concern. American Eagle's (AEO) Solid Comps Trend to Drive Growth Per Zacks analyst, comps are benefiting from compelling merchandise, brand strength, digital and in-store businesses. Expansion Plans Aids Triumph (TGI), Commodity Prices Hurt Per the Zacks analyst, Triumph Group's focus on the expansion of its product capabilities will lead to impressive growth, going ahead. Pharmacy Services Boost Rite Aid (RAD), Reimbursement A Worry Per the Zacks analyst, enrollment of Medicare Part D has been boosting Rite Aid's Pharmacy Services revenues. GATX Rides High on Dividends & Share Buybacks The Zacks analyst is impressed by GATX's measures to reward shareholders through dividends and share buybacks. Additionally, the company's efforts to expand its fleet are encouraging. Loans, Higher Rates Aid Commerce Bancshares (CBSH) Revenues Per the Zacks analyst, robust rise in demand for loans, relatively higher rates, strong balance sheet position and focus on improving fee income will support Commerce Bancshares' revenue growth. Loews (L) Set to Grow on Solid Insurance, Hotel Business Per the Zacks analyst, Loews is well poised to grow on strength of its hotel business, strong insurance business, robust network of manufacturing locations and sturdy balance sheet. FedEx (FDX) Hurt by High Costs, Weak Express Division The Zacks analyst is concerned about increased costs, particularly at FedEx's Ground unit. Weakness at its major revenue generating segment, FedEx Express, is also worrisome. High SG&A costs Likely to Hurt Foot Locker's (FL) Margins Per the Zacks analyst, rising SG&A costs may weigh upon Foot Locker's margins in the near term. For the second quarter, Foot Locker expects SG&A expenses rate to increase 80-100 basis points. Catastrophe Losses, Rising Expenses Weigh on Allstate (ALL) Per the Zacks analyst, exposure to catastrophe losses have imparted volatility to the company's underwriting results. Also, rising expenses weigh on margins. undefinedundefinedWalgreens Boots Alliance, Inc. (WBA) : Free Stock Analysis ReportMerck & Co., Inc. (MRK) : Free Stock Analysis ReportLoews Corporation (L) : Free Stock Analysis ReportFedEx Corporation (FDX) : Free Stock Analysis ReportChevron Corporation (CVX) : Free Stock Analysis ReportThe Allstate Corporation (ALL) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

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