text
stringlengths 1
675k
⌀ |
|---|
Elderly couple die after accidentally poisoning themselves in keyless car
For Sherry Penney, a former university chancellor, and her husband, James Livingston, a retired physicist, the 2017 Toyota Avalon was a sensible purchase. It was a model she and her husband had owned before, but the new version had electronic sensors and other advanced features. The Avalon is very safe, Mr Livingstons daughter Susan recalled hearing Ms Penney say. Last month, one of those features proved fatal. Ms Penney, 81, and Mr Livingston, 88, were found dead at their home in Sarasota, Florida , poisoned by carbon monoxide, according to preliminary tests by the local medical examiner. Susan Livingston said that they had neglected to turn off the cars keyless ignition after pulling into the garage attached to their house and that the engine had continued to run. The deaths highlight a hazard that regulatory and legislative efforts have yet to remedy without the motion of turning a physical key, some car owners, especially older ones, forget to turn off a vehicle. Based on news reports, lawsuits, police and fire records, and research by advocacy groups, at least 36 people have been killed in the United States in such incidents since 2006, including seven in the past six months. Dozens of others have been injured; some left with brain damage. The deaths of Ms Penney and Mr Livingston were all the more striking because of their accomplishments in academia and science. Before retiring to Florida, Ms Penney was the first woman to serve permanently as chancellor of the University of Massachusetts Boston and held other leadership roles in the UMass and State University of New York systems. Mr Livingston, an expert on magnets, spent decades as a researcher at General Electric and taught at the Massachusetts Institute of Technology. The couple collaborated on a book about Martha Wright, a womens rights figure in the 1800s who was James Livingstons great-great-grandmother. These are very smart people, Susan Livingston said. This kind of situation can happen to anybody. Story continues The National Highway Traffic Safety Administration, which oversees the car industry , proposed a rule for keyless vehicles in 2011 mandating a one-second audible external warning to drivers to turn off the ignition. The rule would cost the car industry $500,000 (£394,000) a year, according to an agency estimate. But after lobbying from the industry, the proposal has remained in limbo. Asked recently for comment, the agency repeated earlier guidance, pointing consumers to a safety video about the use and potential dangers of keyless ignitions. Some keyless models activate audible warnings or flashing lights inside or outside the car if the door is opened while the motor is running . The Toyota Avalon, for example, is designed to beep once internally and three times externally in such circumstances. But as the deaths of Ms Penney and Mr Livingston indicate, such alerts are not always adequate. I think if they bought a different car, theyd be alive, Susan Livingston said. Contacted for this article, the car manufacturer said: Toyota vehicles meet or exceed all regulatory safety standards. An investigation by The New York Times last year highlighted the extent of the hazard with keyless ignitions and the regulatory inaction. Soon after, Senator Richard Blumenthal demanded during a hearing that the highway safety agency adopt its proposed rule and require car manufacturers to make vehicles shut off automatically after a set period of idling. Earlier this year, Mr Blumenthal introduced a bill to do just that. The Senate legislation, the Park It Act, has yet to be scheduled for a committee hearing. But this month a group of House members three Democrats and a Republican introduced an identical bill in the Energy and Commerce Committee. This is something we clearly have the technology to prevent, Representative Jan Schakowsky, the bills lead House sponsor, said of the carbon-monoxide deaths. Ford and General Motors have announced their support for the legislation. Some manufacturers have added an automatic shut-off, including Ford on all its keyless vehicles since the 2015 model year. GM retrofitted some of its vehicles to add the automatic shut-off, at $5 apiece, the company told regulators. Toyota, whose vehicles have been involved in half of the fatal incidents, has announced that its 2020 keyless models will come with an automatic shut-off function. It would not say whether it supported the congressional legislation. Hyundai said that it backed the legislation and that it planned to install the auto-shut-off technology in new models but did not offer a timeline for doing so. A representative of Fiat Chrysler said the company was reviewing the legislation but added that statistics show no increase in such injuries when compared with vehicles featuring conventional rotary-key ignition systems and that automatic shut-off technology may have unintended consequences. Nissan, Daimler, Mazda and Subaru declined to say whether they had a position on the legislation. Several manufacturers did not respond to inquiries. While mandated safety features remain elusive, millions of cars with keyless ignitions are on the road. The feature is now standard in more than half of the vehicles made each year, according to car information website Edmunds. Those cars might be out there in seven, eight, 10 years, Susan Livingston said. What about all those other people that might die? The New York Times
|
SHAREHOLDER ALERT: MBNKF EQBK EQT: The Law Offices of Vincent Wong Reminds Investors of Important Class Action Deadlines
NEW YORK, NY / ACCESSWIRE / June 30, 2019 /The Law Offices of Vincent Wong announce that class actions have commenced on behalf of shareholders of the following companies. If you suffered a loss you have until the lead plaintiff deadline to request that the court appoint you as lead plaintiff.
Metro Bank PLC (OTC PINK: MBNKF)Lead Plaintiff Deadline: July 29, 2019Class Period: March 6, 2018 to May 1, 2019
Get additional information about MBNKF:http://www.wongesq.com/pslra-1/metro-bank-plc-loss-submission-form?prid=2161&wire=1
Equity Bancshares, Inc. (EQBK)Lead Plaintiff Deadline: July 12, 2019Class Period: May 11, 2018 to April 22, 2019
Get additional information about EQBK:http://www.wongesq.com/pslra-1/equity-bancshares-inc-loss-submission-form?prid=2161&wire=1
EQT Corporation (EQT)Lead Plaintiff Deadline: August 26, 2019Class Period: June 19, 2017 to October 24, 2018
Get additional information about EQT:http://www.wongesq.com/pslra-1/eqt-corporation-loss-submission-form?prid=2161&wire=1
To learn more contact Vincent Wong, Esq. either via emailvw@wongesq.comor by telephone at 212.425.1140.
Vincent Wong, Esq. is an experienced attorney that has represented investors in securities litigations involving financial fraud and violations of shareholder rights. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:Vincent Wong, Esq.39 East BroadwaySuite 304New York, NY 10002Tel. 212.425.1140Fax. 866.699.3880E-Mail:vw@wongesq.com
SOURCE:The Law Offices of Vincent Wong
View source version on accesswire.com:https://www.accesswire.com/550402/SHAREHOLDER-ALERT-MBNKF-EQBK-EQT-The-Law-Offices-of-Vincent-Wong-Reminds-Investors-of-Important-Class-Action-Deadlines
|
Should Corning Incorporated’s (NYSE:GLW) Weak Investment Returns Worry You?
Want to participate in ashort research study? Help shape the future of investing tools and you could win a $250 gift card!
Today we'll look at Corning Incorporated (NYSE:GLW) and reflect on its potential as an investment. In particular, we'll consider its Return On Capital Employed (ROCE), as that can give us insight into how profitably the company is able to employ capital in its business.
First, we'll go over how we calculate ROCE. Then we'll compare its ROCE to similar companies. And finally, we'll look at how its current liabilities are impacting its ROCE.
ROCE is a metric for evaluating how much pre-tax income (in percentage terms) a company earns on the capital invested in its business. In general, businesses with a higher ROCE are usually better quality. In brief, it is a useful tool, but it is not without drawbacks. Author Edwin Whitingsaysto be careful when comparing the ROCE of different businesses, since 'No two businesses are exactly alike.'
The formula for calculating the return on capital employed is:
Return on Capital Employed = Earnings Before Interest and Tax (EBIT) ÷ (Total Assets - Current Liabilities)
Or for Corning:
0.069 = US$1.7b ÷ (US$27b - US$3.1b) (Based on the trailing twelve months to March 2019.)
So,Corning has an ROCE of 6.9%.
Check out our latest analysis for Corning
ROCE can be useful when making comparisons, such as between similar companies. Using our data, Corning's ROCE appears to be significantly below the 12% average in the Electronic industry. This performance could be negative if sustained, as it suggests the business may underperform its industry. Aside from the industry comparison, Corning's ROCE is mediocre in absolute terms, considering the risk of investing in stocks versus the safety of a bank account. It is possible that there are more rewarding investments out there.
In our analysis, Corning's ROCE appears to be 6.9%, compared to 3 years ago, when its ROCE was 4.6%. This makes us think about whether the company has been reinvesting shrewdly. You can click on the image below to see (in greater detail) how Corning's past growth compares to other companies.
When considering ROCE, bear in mind that it reflects the past and does not necessarily predict the future. Companies in cyclical industries can be difficult to understand using ROCE, as returns typically look high during boom times, and low during busts. This is because ROCE only looks at one year, instead of considering returns across a whole cycle. Since the future is so important for investors, you should check out ourfreereport on analyst forecasts for Corning.
Short term (or current) liabilities, are things like supplier invoices, overdrafts, or tax bills that need to be paid within 12 months. The ROCE equation subtracts current liabilities from capital employed, so a company with a lot of current liabilities appears to have less capital employed, and a higher ROCE than otherwise. To counter this, investors can check if a company has high current liabilities relative to total assets.
Corning has total assets of US$27b and current liabilities of US$3.1b. Therefore its current liabilities are equivalent to approximately 11% of its total assets. It is good to see a restrained amount of current liabilities, as this limits the effect on ROCE.
With that in mind, we're not overly impressed with Corning's ROCE, so it may not be the most appealing prospect. But note:make sure you look for a great company, not just the first idea you come across.So take a peek at thisfreelist of interesting companies with strong recent earnings growth (and a P/E ratio below 20).
For those who like to findwinning investmentsthisfreelist of growing companies with recent insider purchasing, could be just the ticket.
We aim to bring you long-term focused research analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material.If you spot an error that warrants correction, please contact the editor ateditorial-team@simplywallst.com. This article by Simply Wall St is general in nature. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Simply Wall St has no position in the stocks mentioned. Thank you for reading.
|
3 Ways to Ensure Your Money Lasts Through Retirement
You've spent decades saving for retirement, and you may think that once you finally leave your job and start this new journey in life it will be smooth sailing. But saving for retirement is only half the battle: Once you've built a solid retirement fund, the next challenge is to ensure your money lasts the rest of your life.
One third of Americans turning 65 years old today can expect to live past age 90 according to the Social Security Administration, and one in seven will likely make it past age 95. As healthcare technology improves and life expectancies continue to increase, older adults will likely spend more and more time in retirement.
That's why it's more important than ever to ensure you're spending your savings wisely. If you don't want to risk running out of money in retirement, you'll need to pace yourself and make the most of every dollar. Fortunately, there are a few simple ways to make sure your savings last as long as possible.
Image source: Getty Images
It may be tempting to splurge during your first few years of retirement, taking vacations every other month and signing up for all the fun classes and activities you've been yearning to do for years. But if you don't pace yourself, your savings won't last nearly as long as you may have hoped.
One common way to figure out how much you can withdraw from your retirement fund each year is to use the4% rule. This guideline states that if you withdraw 4% of your total savings during the first year of retirement, then adjust that number each following year to account for inflation, your savings should last roughly 30 years.
For example, say you have $800,000 stashed in your retirement fund. Using the 4% rule, you can withdraw $32,000 during your first year. Keep in mind you'll also be receiving Social Security benefits, and they can help cushion your income so you're not completely reliant on your personal savings alone.
Once you've figured out how much you can withdraw each year, try your best to stick to that number. Even one or two years of overspending can throw off your entire plan, leaving you with less money than you expected during your final years of retirement.
Unexpected expenses will always be a part of life, regardless of whether you're working or retired. When you have hundred of thousands of dollars in savings stashed in your retirement fund, that may seem like the perfect place to pull money from when you need to cover an unexpected cost.
However, that would likely mean withdrawing more than you'd planned from your retirement fund. A few thousand dollars here and there may not seem like much in the grand scheme of things, but if you're repeatedly pulling too much money from your savings, you're running the risk of emptying your retirement account prematurely.
To avoid this problem,establish an emergency fundseparate from your retirement fund. Ahigh-yield savings accountis an ideal place to stash this money, because you'll be earning interest on your cash but can still access it quickly when needed (and you won't have to pay taxes on it like you would if withdrawing it from a 401(k) ortraditional IRA). The best time to create an emergency fund isbeforeyou retire, since it's easier to save when you're still working and earning money. Ideally you will have already had an emergency fund from when you were working, so you won't need to establish a new one for retirement.
Most experts recommend having enough saved to cover three to six months' worth of expenses, but you may want to aim for the higher end of that suggestion. Once you retire and start living on a fixed income, it will be harder to replenish your emergency fund if you need to withdraw from it. So the more you have saved before you retire, the less likely it is you'll run out of cash and need to pull money from your retirement fund to cover unexpected expenses.
Like unexpected expenses, healthcare costs are a necessary evil. While Medicare will help cover some of these costs, you're still responsible for all premiums, deductibles, copayments, and coinsurance. These costs add up, and the average retiree spends around $4,300 per year on out-of-pocket healthcare expenses according to a study from the Center for Retirement Research at Boston College.
Nobody can predict exactly what they'll owe in healthcare costs in retirement, so it can be tough to plan for these expenses. But the more you understand aboutwhat Medicare does and doesn't coverand how much health insurance will cost during retirement, the better prepared you'll be.
Also, don't forget about long-term care for when you're older. Around 70% of retirees will need long-term care at some point according to the U.S. Department of Health and Human Services, and the average nursing home stay costs nearly $7,000per month. That's roughly $84,000 per year. On top of that, Medicare doesn't usually cover long-term care.Long-term care insurancecan help cover the cost so it's not entirely out-of-pocket, but you'll need to enroll early (ideally before you retire) to avoid paying sky-high premiums.
There are plenty of factors to consider when preparing for retirement, but the ultimate goal is to ensure you have enough saved to last the rest of your life. The work doesn't end once you leave your job, though. To make sure your savings last as long as possible, you'll need to spend wisely and stretch every dollar.
More From The Motley Fool
• Everything You Need to Know About Retirement
• Don't Retire Early Until You Do This
• The $16,728 Social Security Bonus You Can’t Afford to Miss
The Motley Fool has adisclosure policy.
|
Wall Street Has Given Up on These 3 Stocks, and That's a Huge Mistake
Wall Street focuses much of its attention on a company's short-term outlook. Because of that, near-term headwinds can cause it to miss the bigger picture for the future.
That certainly seems to be the case with biotechPuma Biotechnology(NASDAQ: PBYI), logistics and transportation companyXPO Logistics(NYSE: XPO), and energy infrastructure operatorTallgrass Energy(NYSE: TGE). While Wall Street seems to have given up on this trio due to some short-term headwinds, these three Motley Fool contributors think that could be a huge mistake, given their long-term growth potential.
Image source: Getty Images.
George Budwell(Puma Biotechnology):By all accounts, Puma has had a terrible year. After it reported disappointing first-quarter results last May, Wall Street decided to slash peak sales estimates for the company's struggling breast cancer drug Nerlynx. Puma's shares, in kind, lost overhalf their valuein the following weeks. This dramatic sell-off, though, may have created an outstanding entry point for risk-tolerant investors.
Puma's shares hit the skids due to concerns over Nerlynx's side-effect profile. While this issue is nothing new, the company reported an alarming rate of discontinuations in the most recent quarter due to severe side effects. The net result is that the drug's sales fell by 25% quarter over quarter. That's not a good sign for a novel cancer drug fairly early into its launch.
There is a huge silver lining to this recent downturn from an investing standpoint, however. Even though Nerlynx is no longer expected to come anywhere near blockbuster status (annual sales exceeding $1 billion), the drug should still manage to haul in roughly $550 million at peak within a few years. Puma's present market cap is currentlybelowthis figure, so this beaten-down biotech is an outstanding bargain at these levels. Most biotechs with an FDA-approved cancer drug, after all, tend to garner significant premiums in the range of three to five times their forward-looking peak sales forecast.
Is it time to buy now? Wall Street is clearly cautious with Puma following these underwhelming financial results, and that might be a wise strategy -- at least until the company reports its second-quarter earnings later this year. That said, this stock could also take flight if Nerlynx's sales rebound as the year unfolds. Growth-oriented investors, therefore, will definitely want to keep a close eye on this stock over the remainder of 2019.
Rich Duprey(XPO Logistics):Shares of XPO got crushed whenAmazon.com(NASDAQ: AMZN)pulled $600 million worth of business from the company, with the remaining $300 million still at risk. That's obviously led to a hit to revenue and earnings, but its first-quarter results were not nearly as bad as analysts had projected, indicating there's still a lot of fight left in this company.
E-commerce continues to grow, and that has become the lifeblood of the logistics and transportation industry.FedEx, which recentlyturned the tableson Amazon by saying it would no longer handle the retailer's Express business, foresees the demand for e-commerce delivery doubling by 2026. It wants to ensure it has the capacity to handle that growth, even if Amazon will account for a lot of it.
It means there is a lot of opportunity still available in the market, and XPO Logistics remains a top provider even if it loses all of Amazon's business. Certainly there are risks, not least of which is Amazon entering the freight logistics market itself as a competitor carrying third-party packages.
Yet the market has just about priced XPO as if it's about to go out of business, which is the furthest thing from happening. It is priced at just 14 times projected earnings and at a fraction of its sales. Analysts forecast XPO is going to grow its earnings at a compounded 26% annual rate over the next five years, which -- when compared with how the market is valuing the company -- gives it a discount. Moreover, XPO is valued at just 10 times the free cash flow it produces, making it a bargain-basement stock.
Giving up on a stock is smart when the investment thesis for it no longer exists. That's not the case with XPO Logistics, and investors can still capitalize on the market's myopia.
Image source: Getty Images.
Matt DiLallo(Tallgrass Energy):Wall Street analysts don't have a very favorable opinion onmidstream companyTallgrass Energy. Of the 13 who are covering the company, nine of them rate it a hold or at underperform.Goldman Sachs, for example, recently downgraded the stock from buy to neutral. The Wall Street bank is concerned about upcoming contract expirations on its Rockies Express (REX) and Pony Express pipelines as well as how it will finance two large-scale projects.
These concerns, however, seem to be misplaced. While the company does have several capacity agreements about to expire on its two key pipelines, that could turn out to be a positive. On REX, Tallgrass believes that it can sign new contracts at higher rates due to strong capacity demand. In the company's view, it could capture an incremental $100 million to $150 million of earnings as it signs higher-rate contracts. Meanwhile, the company is boosting the capacity of Pony Express from 400,000 barrels per day (BPD) to 420,000 BPD to support growing demand. On top of that, the company is working on apotential joint venturethat would add another 550,000 BPD of capacity to its Pony Express system.
Meanwhile, the funding concerns also seem overblown. That's because private equity giantBlackstonerecently bought a controlling interest in the company. Blackstone has been a major investor in midstream infrastructure in recent years, and would likely help fund some of Tallgrass Energy's expansion projects.
While Wall Street sees the upcoming contract expirations and expansion projects as risks, they represent significant upside opportunities for Tallgrass. That's why the currently dour view of the company appears to be a big mistake.
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
John Mackey, CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool's board of directors.George Budwellhas no position in any of the stocks mentioned.Matthew DiLalloowns shares of Amazon and FedEx.Rich Dupreyhas no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Amazon and FedEx. The Motley Fool recommends XPO Logistics. The Motley Fool has adisclosure policy.
|
Fifa Women's World Cup 2019 final: When is it, where is it, what time does it start and what TV channel is it on?
Who will be crowned the champions of the world? - FIFA What is it? The final of the Fifa Women's World Cup 2019 in Lyon, France . When is it? Sunday, July 7. What time is kick-off? 4pm BST. What TV channel is it on? The final will be broadcast exclusively on BBC One and on the BBC Sport website. What happened last year? Going into the final in Vancouver, Canada, both USA and Japan were unbeaten. Indeed, Japan had conceded only three goals in the entire tournament . But then Carli Lloyd scored three times in 16 minutes to put the Americans 4-0 up against their shellshocked opponents and propelled the USA to their first World Cup in 16 years - their third title overall. England claimed the Bronze Medal, beating Germany 1-0 in extra time, but were left ruing a huge missed opportunity to claim their first World Cup . In the semi-finals, England were knocked out, 2-1, in heartbreaking fashion as Laura Bassett's injury-time own goal sent holders Japan into the final. Bassett diverted a rare Japanese cross over goalkeeper Karen Bardsley's head in the 92nd minute, the ball hitting the crossbar and bouncing agonisingly over the line. There was barely time for England to respond before the referee blew the final whistle. Who are the World Cup's most successful teams? Who are the World Cup's highest goalscorers?
|
Are Thor Industries, Inc.'s (NYSE:THO) Interest Costs Too High?
Want to participate in ashort research study? Help shape the future of investing tools and you could win a $250 gift card!
Investors are always looking for growth in small-cap stocks like Thor Industries, Inc. (NYSE:THO), with a market cap of US$3.2b. However, an important fact which most ignore is: how financially healthy is the business? Evaluating financial health as part of your investment thesis is essential, since poor capital management may bring about bankruptcies, which occur at a higher rate for small-caps. The following basic checks can help you get a picture of the company's balance sheet strength. Nevertheless, these checks don't give you a full picture, so I’d encourage you todig deeper yourself into THO here.
THO's debt levels surged from US$80m to US$2.4b over the last 12 months , which includes long-term debt. With this rise in debt, THO's cash and short-term investments stands at US$461m to keep the business going. On top of this, THO has generated cash from operations of US$445m in the last twelve months, leading to an operating cash to total debt ratio of 18%, meaning that THO’s operating cash is less than its debt.
With current liabilities at US$1.5b, the company has been able to meet these commitments with a current assets level of US$2.3b, leading to a 1.54x current account ratio. The current ratio is the number you get when you divide current assets by current liabilities. Generally, for Auto companies, this is a reasonable ratio as there's enough of a cash buffer without holding too much capital in low return investments.
Since total debt levels exceed equity, THO is a highly leveraged company. This is somewhat unusual for small-caps companies, since lenders are often hesitant to provide attractive interest rates to less-established businesses. We can test if THO’s debt levels are sustainable by measuring interest payments against earnings of a company. Ideally, earnings before interest and tax (EBIT) should cover net interest by at least three times. For THO, the ratio of 12.89x suggests that interest is comfortably covered, which means that lenders may be willing to lend out more funding as THO’s high interest coverage is seen as responsible and safe practice.
Although THO’s debt level is towards the higher end of the spectrum, its cash flow coverage seems adequate to meet obligations which means its debt is being efficiently utilised. Since there is also no concerns around THO's liquidity needs, this may be its optimal capital structure for the time being. This is only a rough assessment of financial health, and I'm sure THO has company-specific issues impacting its capital structure decisions. I recommend you continue to research Thor Industries to get a more holistic view of the small-cap by looking at:
1. Future Outlook: What are well-informed industry analysts predicting for THO’s future growth? Take a look at ourfree research report of analyst consensusfor THO’s outlook.
2. Valuation: What is THO worth today? Is the stock undervalued, even when its growth outlook is factored into its intrinsic value? Theintrinsic value infographic in our free research reporthelps visualize whether THO is currently mispriced by the market.
3. Other High-Performing Stocks: Are there other stocks that provide better prospects with proven track records? Explore ourfree list of these great stocks here.
We aim to bring you long-term focused research analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material.If you spot an error that warrants correction, please contact the editor ateditorial-team@simplywallst.com. This article by Simply Wall St is general in nature. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Simply Wall St has no position in the stocks mentioned. Thank you for reading.
|
Should We Be Cautious About Thor Industries, Inc.'s (NYSE:THO) ROE Of 6.3%?
Want to participate in ashort research study? Help shape the future of investing tools and you could win a $250 gift card!
While some investors are already well versed in financial metrics (hat tip), this article is for those who would like to learn about Return On Equity (ROE) and why it is important. By way of learning-by-doing, we'll look at ROE to gain a better understanding of Thor Industries, Inc. (NYSE:THO).
Over the last twelve monthsThor Industries has recorded a ROE of 6.3%. That means that for every $1 worth of shareholders' equity, it generated $0.063 in profit.
Check out our latest analysis for Thor Industries
Theformula for return on equityis:
Return on Equity = Net Profit ÷ Shareholders' Equity
Or for Thor Industries:
6.3% = US$129m ÷ US$2.0b (Based on the trailing twelve months to April 2019.)
Most know that net profit is the total earnings after all expenses, but the concept of shareholders' equity is a little more complicated. It is the capital paid in by shareholders, plus any retained earnings. Shareholders' equity can be calculated by subtracting the total liabilities of the company from the total assets of the company.
ROE measures a company's profitability against the profit it retains, and any outside investments. The 'return' is the amount earned after tax over the last twelve months. That means that the higher the ROE, the more profitable the company is. So, as a general rule,a high ROE is a good thing. That means ROE can be used to compare two businesses.
By comparing a company's ROE with its industry average, we can get a quick measure of how good it is. The limitation of this approach is that some companies are quite different from others, even within the same industry classification. If you look at the image below, you can see Thor Industries has a lower ROE than the average (19%) in the Auto industry classification.
That's not what we like to see. We prefer it when the ROE of a company is above the industry average, but it's not the be-all and end-all if it is lower. Nonetheless, it might be wise tocheck if insiders have been selling.
Virtually all companies need money to invest in the business, to grow profits. The cash for investment can come from prior year profits (retained earnings), issuing new shares, or borrowing. In the first two cases, the ROE will capture this use of capital to grow. In the latter case, the debt used for growth will improve returns, but won't affect the total equity. In this manner the use of debt will boost ROE, even though the core economics of the business stay the same.
Thor Industries clearly uses a significant amount of debt to boost returns, as it has a debt to equity ratio of 1.19. The company doesn't have a bad ROE, but it is less than ideal tht it has had to use debt to achieve its returns. Investors should think carefully about how a company might perform if it was unable to borrow so easily, because credit markets do change over time.
Return on equity is a useful indicator of the ability of a business to generate profits and return them to shareholders. Companies that can achieve high returns on equity without too much debt are generally of good quality. If two companies have around the same level of debt to equity, and one has a higher ROE, I'd generally prefer the one with higher ROE.
Having said that, while ROE is a useful indicator of business quality, you'll have to look at a whole range of factors to determine the right price to buy a stock. The rate at which profits are likely to grow, relative to the expectations of profit growth reflected in the current price, must be considered, too. So you might want to check this FREEvisualization of analyst forecasts for the company.
If you would prefer check out another company -- one with potentially superior financials -- then do not miss thisfreelist of interesting companies, that have HIGH return on equity and low debt.
We aim to bring you long-term focused research analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material.If you spot an error that warrants correction, please contact the editor ateditorial-team@simplywallst.com. This article by Simply Wall St is general in nature. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Simply Wall St has no position in the stocks mentioned. Thank you for reading.
|
Is Yamana Gold a Buy?
Thanks to recent comments from the U.S. Federal Reserve, which revealed its lack of interest in raising interest rates, the price of gold bounded above the $1,400-per-ounce mark -- a level not broken in more than five years. Unsurprisingly, investors are turning their attention to gold mining stocks -- among them,Yamana Gold(NYSE: AUY).
Simply because Yamana Gold has significant exposure to the yellow metal doesn't mean, however, that investors would benefit from building a position in the stock. After all, there are plenty of examples of gold miners that don't represent glittering opportunities. So let's dig in deeper to see if Yamana deserves a place in investors' portfolios.
Image source: Getty Images.
Upon the first announcement that Yamana intended to eschew acquisitions in favor of organic growth opportunities,investors were mostly disappointed. Management, however, has effectively executed its growth plan over the past two years, allaying the concerns of acquisition-minded investors. For one, the company expeditiously, and within budget, brought Cerro Moro through the development phase. Emerging as one of the company's core assets, Cerro Moro exceeded expectations in 2018, andmanagement continues to recognizethe potential of the Argentine mine to contribute strongly to the company's operational cash flow. Moreover, management deserves credit for adding value to its portfolio throughthe subtraction of a major asset, Chapada, in a deal that represents a total consideration of over $1 billion, exceeding the current carrying value of the asset.
Unlike many of its gold-mining peers, Yamana rewards shareholders by means of a quarterly dividend, and with the sale of Chapada, shareholders stand to benefit even more. Upon completion of the sale of Chapada, Yamana intends to double its dividend from an annual payout per share of $0.02 per share to $0.04. With shares trading at around $2.50 as of this writing, that represents a yield of about 1.6%.
And there's more. In a recent investor presentation, management claimed that "progressive dividend increases are anticipated as debt is repaid from cash flows and through asset monetizations."
Lastly, the company's interest in maintaining its financial health warrants recognition. For several years now, management has sought to reduce its reliance on leverage from a net debt-to-EBITDA ratio of 2.8 in 2014 to a ratio between 1.5 and 2. Upon the closing of the sale of Chapada, management expects the company to have a net debt-to-EBITDA ratio of 1.5, and the company expects the ratio to contract even further, to 1, by 2021.
From management's success in optimizing the portfolio to the company's improving financial health, there's a lot to like about Yamana. Bears, however, contend that the company doesn't glitter as brightly as the bulls might have you believe. For one, the company will soon find itself taking on a greater degree of risk -- with greater exposure to the precious-metals markets -- upon the sale of Chapada, the company's lone copper-producing asset. In 2018, for example, the sale of copper accounted for approximately 18.6% of the company's revenue. Without Chapada, therefore, Yamana will be increasingly susceptible to volatility in the gold and silver markets.
Image source: Getty Images.
An additional source of concern lies with the company's recent cash flow woes. Over the past three years, Yamana's operational cash flow has fallen about 38%. And it appears that 2019 isn't providing much relief; in the first quarter, Yamana reported a 90% year-over-year decline in cash from operations. This trajectory is worrisome, considering the company intends to finance development activities at Jacobina, Canadian Malartic, Agua Rica, and Cerro Moro with cash generated from operating activities. Moreover, management has stated that it intends to also source the increased dividend from operational cash flow.
We would be remiss to consider Yamana Gold without looking at the stock's valuation. Since the earnings figures of mining companies are often complicated by the non-cash expenses tied to the depreciation of their assets, examining these stocks in terms of their cash flows provides better insight. In regard to Yamana Gold, we find that the stock currently trades at 8.1 times cash from operations on a trailing-12-month basis. This appears to be a rich valuation, considering its five-year multiple is 5.7, according toMorningstar. In comparison to its peers, however, the valuation seems more reasonable.Alamos GoldandB2Goldtrade at multiples of 12 and 7.9, respectively.
While Yamana Gold will be assuming more risk upon the sale of Chapada, the company intends to return to the copper market soon through the development of Agua Rica. According to the most recent investor presentation, a pre-feasibility study is imminent and a feasibility study is expected to be completed in 2020. Currently, Yamana estimates Agua Rica's measured and indicated copper reserves at 11.5 billion pounds and forecasts annual production in the first 10 years of operation to average 520 million pounds of copper-equivalent metal. And while the company has struggled to grow its cash flow over the past three years, this trend is likely to reverse as production at Cerro Moro continues to ramp up, and cash flow is no longer needed to sustain and expand operations at Chapada.
At this point, therefore, I think investors interested in gaining or expanding exposure to gold-mining stocks would be well served to add Yamana to their portfolios.
More From The Motley Fool
• 10 Best Stocks to Buy Today
Scott Levinehas 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.
|
These Fundamentals Make Olin Corporation (NYSE:OLN) Truly Worth Looking At
Want to participate in ashort research study? Help shape the future of investing tools and you could win a $250 gift card!
Building up an investment case requires looking at a stock holistically. Today I've chosen to put the spotlight on Olin Corporation (NYSE:OLN) due to its excellent fundamentals in more than one area. OLN is a well-regarded dividend payer that has been a rockstar for income investors, currently trading at an attractive share price. Below, I've touched on some key aspects you should know on a high level. For those interested in digger a bit deeper into my commentary, read the fullreport on Olin here.
OLN is currently trading below its true value, which means the market is undervaluing the company's expected cash flow going forward. Investors have the opportunity to buy into the stock to reap capital gains, if OLN's projected earnings trajectory does follow analyst consensus growth, which determines my intrinsic value of the company. Also, relative to the rest of its peers with similar levels of earnings, OLN's share price is trading below the group's average. This bolsters the proposition that OLN's price is currently discounted.
OLN's ample net income is able to cover all of its dividend payments, which has been higher than the low-risk savings rate, sufficiently rewarding shareholders for taking on the risk of investing in the stock market. However, it is important to remember that dividend yields are a function of stock prices and corporate profits, which can be volatile.
For Olin, there are three important factors you should look at:
1. Future Outlook: What are well-informed industry analysts predicting for OLN’s future growth? Take a look at ourfree research report of analyst consensusfor OLN’s outlook.
2. Historical Performance: What has OLN's returns been like over the past? Go into more detail in the past track record analysis and take a look atthe free visual representations of our analysisfor more clarity.
3. Other Attractive Alternatives: Are there other well-rounded stocks you could be holding instead of OLN? Exploreour interactive list of stocks with large potentialto get an idea of what else is out there you may be missing!
We aim to bring you long-term focused research analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material.If you spot an error that warrants correction, please contact the editor ateditorial-team@simplywallst.com. This article by Simply Wall St is general in nature. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Simply Wall St has no position in the stocks mentioned. Thank you for reading.
|
Carnival Corporation (NYSE:CCL)'s Earnings Grew 5.7%, Is It Enough?
Want to participate in ashort research study? Help shape the future of investing tools and you could win a $250 gift card!
Increase in profitability and industry-beating performance can be essential considerations in a stock for some investors. In this article, I will take a look at Carnival Corporation's (NYSE:CCL) track record on a high level, to give you some insight into how the company has been performing against its historical trend and its industry peers.
See our latest analysis for Carnival
CCL's trailing twelve-month earnings (from 31 May 2019) of US$3.0b has increased by 5.7% compared to the previous year.
However, this one-year growth rate has been lower than its average earnings growth rate over the past 5 years of 20%, indicating the rate at which CCL is growing has slowed down. Why could this be happening? Well, let's look at what's transpiring with margins and if the whole industry is experiencing the hit as well.
In terms of returns from investment, Carnival has fallen short of achieving a 20% return on equity (ROE), recording 12% instead. However, its return on assets (ROA) of 7.1% exceeds the US Hospitality industry of 6.0%, indicating Carnival has used its assets more efficiently. And finally, its return on capital (ROC), which also accounts for Carnival’s debt level, has increased over the past 3 years from 7.7% to 9.5%.
Carnival's track record can be a valuable insight into its earnings performance, but it certainly doesn't tell the whole story. Positive growth and profitability are what investors like to see in a company’s track record, but how do we properly assess sustainability? I recommend you continue to research Carnival to get a better picture of the stock by looking at:
1. Future Outlook: What are well-informed industry analysts predicting for CCL’s future growth? Take a look at ourfree research report of analyst consensusfor CCL’s outlook.
2. Financial Health: Are CCL’s operations financially sustainable? Balance sheets can be hard to analyze, which is why we’ve done it for you. Check out ourfinancial health checks here.
3. Other High-Performing Stocks: Are there other stocks that provide better prospects with proven track records? Explore ourfree list of these great stocks here.
NB: Figures in this article are calculated using data from the trailing twelve months from 31 May 2019. This may not be consistent with full year annual report figures.
We aim to bring you long-term focused research analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material.If you spot an error that warrants correction, please contact the editor ateditorial-team@simplywallst.com. This article by Simply Wall St is general in nature. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Simply Wall St has no position in the stocks mentioned. Thank you for reading.
|
Undocumented immigrants should get health care, Julián Castro affirms
Democratic presidential candidate Julián Castro on Sunday stood firm on wanting to give undocumented immigrants access to health care if he is elected. After the first Democratic debate Wednesday night, the former HUD secretary, along with other candidates, drew criticism for saying they would give undocumented immigrants access to health care. One of the critics was President Donald Trump, who tweeted: “All Democrats just raised their hands for giving millions of illegal aliens unlimited healthcare. How about taking care of American Citizens first!? That’s the end of that race!” Castro amplified his position Sunday. “What I’d like to Americans to know, right now, No. 1, undocumented immigrants already pay a lot of taxes,” Castro told George Stephanopoulos, host of ABC’s “This Week with George Stephanopoulos.” “Secondly, we already pay for the health care of undocumented immigrants. It’s called the emergency room. “And then third, it’s the right thing to do,” he said. “We’re not going to let people living in this country die because they can’t see a doctor. That’s not who we are as Americans.” Castro also re-upped his immigration policy idea that he calls a “21st century Marshall Plan.” His plan is centered around giving financial aid to Central American countries embroiled in poverty to help stop the flow of migrants to the U.S.-Mexico border. His reference to the Marshall Plan refers to the 1940s program, named for Gen. George Marshall, President Harry Truman’s secretary of State, that rebuilt Western Europe after World War II. “Nobody has called for an unlimited number of people coming to this country, but I do believe we should expand that significantly and we’re big enough to do that,” Castro said.
|
Why I Like OceanaGold Corporation (TSE:OGC)
Want to participate in ashort research study? Help shape the future of investing tools and you could win a $250 gift card!
I've been keeping an eye on OceanaGold Corporation (TSE:OGC) because I'm attracted to its fundamentals. Looking at the company as a whole, as a potential stock investment, I believe OGC has a lot to offer. Basically, it is a company that has been able to sustain great financial health, trading at an attractive share price. In the following section, I expand a bit more on these key aspects. If you're interested in understanding beyond my broad commentary, read the fullreport on OceanaGold here.
OGC's strong financial health means that all of its upcoming liability payments are able to be met by its current cash and short-term investment holdings. This indicates that OGC has sufficient cash flows and proper cash management in place, which is a key determinant of the company’s health. OGC appears to have made good use of debt, producing operating cash levels of 2.05x total debt in the prior year. This is a strong indication that debt is reasonably met with cash generated. OGC's shares are now trading at a price below its true value based on its discounted cash flows, indicating a relatively pessimistic market sentiment. Investors have the opportunity to buy into the stock to reap capital gains, if OGC's projected earnings trajectory does follow analyst consensus growth, which determines my intrinsic value of the company. Also, relative to the rest of OGC's peers, it is also trading at a value below those of similar sizes in asset terms. This bolsters the proposition that OGC's price is currently discounted.
For OceanaGold, I've put together three fundamental aspects you should further research:
1. Future Outlook: What are well-informed industry analysts predicting for OGC’s future growth? Take a look at ourfree research report of analyst consensusfor OGC’s outlook.
2. Historical Performance: What has OGC's returns been like over the past? Go into more detail in the past track record analysis and take a look atthe free visual representations of our analysisfor more clarity.
3. Other Attractive Alternatives: Are there other well-rounded stocks you could be holding instead of OGC? Exploreour interactive list of stocks with large potentialto get an idea of what else is out there you may be missing!
We aim to bring you long-term focused research analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material.If you spot an error that warrants correction, please contact the editor ateditorial-team@simplywallst.com. This article by Simply Wall St is general in nature. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Simply Wall St has no position in the stocks mentioned. Thank you for reading.
|
Your iPhone will charge from 0% to 80% in under an hour with these two accessories
Click here to read the full article. Here’s the good news: all of Apple’s iPhones from 2017 and later support 18W fast charging that can charge your phone from 0% all the way up to 80% in about 55 minutes! And now for the bad news: Apple’s cheaped out and didn’t include a fast charger in the box with any of its iPhone models. Seriously, you can buy a $1,500 iPhone XS Max and Apple still doesn’t include a fast charger in the box. Ugh. Getting the charger and cable you need from Apple to fast charge your iPhone costs about $50, which is obscene. Instead, pick up an AUKEY USB C Charger with 18W Power Delivery for $19.99 and an Anker USB C to Lightning Cable for $15.99. AUKEY USB C Charger High-Speed Charging: Fast charge your iPhone XS/XS Max/XR, Google Pixel 2 / 2 XL, or other compatible USB-C devices that support USB Power Delivery USB Power Delivery: Next-generation, future-proof fast charging technology that charges your USB Type-C phone or tablet at up to 18W Compact & Portable: Extremely compact form factor and foldable plug ensure maximum portability wherever you go. Handy for home, office, and vacations Safe & Reliable: Built-in safeguards protect your devices against excessive current, overheating, and overcharging Package Contents: AUKEY PA-Y18 18W Power Delivery Wall Charger, User Manual, 45-Day Money Back Guarantee and 24-Month Product Replacement Warranty Card Anker USB C to Lightning Cable Power Delivery: Use this cable with your USB-C Power Delivery charger (including Apple 18W 29W, 30W, 61W, or 87W USB-C Power Adapter) to charge your iOS device, and access fast-charging for iPhone 8, 8 Plus, X, XS, XR, XS Max, and later models. Charge and Sync: Connect your iPhone, iPad, or iPod with Lightning connector to your USB-C or Thunderbolt 3 (USB-C) enabled Mac and iPad Pro to seamlessly sync And charge. Ultimate Durability: Lasts 12× longer than other cables and proven to withstand over 12000 bends in strict laboratory tests. MI: MI certification and strict quality testing ensure your Apple devices are charged safely, at their fastest possible speed. . A Cable for Life: We’re so confident about Power line II’s long-lasting performance that we gave it a hassle-free, lifetime . Story continues Related Stories: Best Refillable Water Bottle Never buy batteries again thanks to Anker's massive sale on AA and AAA batteries This is the cheapest high-quality 512GB microSD card on Amazon BGR Top Deals: This $16 clip-on lens kit fits the iPhone or any Android phone, and it’s awesome Amazon deal offers a 7-inch Android tablet for under $43 See the original version of this article on BGR.com
|
Why We Like OceanaGold Corporation’s (TSE:OGC) 7.2% Return On Capital Employed
Want to participate in ashort research study? Help shape the future of investing tools and you could win a $250 gift card!
Today we are going to look at OceanaGold Corporation (TSE:OGC) to see whether it might be an attractive investment prospect. To be precise, we'll consider its Return On Capital Employed (ROCE), as that will inform our view of the quality of the business.
First of all, we'll work out how to calculate ROCE. Second, we'll look at its ROCE compared to similar companies. Then we'll determine how its current liabilities are affecting its ROCE.
ROCE measures the 'return' (pre-tax profit) a company generates from capital employed in its business. All else being equal, a better business will have a higher ROCE. Ultimately, it is a useful but imperfect metric. Author Edwin Whitingsaysto be careful when comparing the ROCE of different businesses, since 'No two businesses are exactly alike.'
The formula for calculating the return on capital employed is:
Return on Capital Employed = Earnings Before Interest and Tax (EBIT) ÷ (Total Assets - Current Liabilities)
Or for OceanaGold:
0.072 = US$133m ÷ (US$2.0b - US$186m) (Based on the trailing twelve months to March 2019.)
So,OceanaGold has an ROCE of 7.2%.
See our latest analysis for OceanaGold
ROCE is commonly used for comparing the performance of similar businesses. OceanaGold's ROCE appears to be substantially greater than the 2.9% average in the Metals and Mining industry. We would consider this a positive, as it suggests it is using capital more effectively than other similar companies. Separate from how OceanaGold stacks up against its industry, its ROCE in absolute terms is mediocre; relative to the returns on government bonds. Investors may wish to consider higher-performing investments.
The image below shows how OceanaGold's ROCE compares to its industry, and you can click it to see more detail on its past growth.
Remember that this metric is backwards looking - it shows what has happened in the past, and does not accurately predict the future. ROCE can be deceptive for cyclical businesses, as returns can look incredible in boom times, and terribly low in downturns. This is because ROCE only looks at one year, instead of considering returns across a whole cycle. Remember that most companies like OceanaGold are cyclical businesses. What happens in the future is pretty important for investors, so we have prepared afreereport on analyst forecasts for OceanaGold.
Liabilities, such as supplier bills and bank overdrafts, are referred to as current liabilities if they need to be paid within 12 months. Due to the way the ROCE equation works, having large bills due in the near term can make it look as though a company has less capital employed, and thus a higher ROCE than usual. To counter this, investors can check if a company has high current liabilities relative to total assets.
OceanaGold has total liabilities of US$186m and total assets of US$2.0b. Therefore its current liabilities are equivalent to approximately 9.2% of its total assets. With low levels of current liabilities, at least OceanaGold's mediocre ROCE is not unduly boosted.
If performance improves, then OceanaGold may be an OK investment, especially at the right valuation. Of course,you might also be able to find a better stock than OceanaGold. So you may wish to see thisfreecollection of other companies that have grown earnings strongly.
If you are like me, then you willnotwant to miss thisfreelist of growing companies that insiders are buying.
We aim to bring you long-term focused research analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material.If you spot an error that warrants correction, please contact the editor ateditorial-team@simplywallst.com. This article by Simply Wall St is general in nature. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Simply Wall St has no position in the stocks mentioned. Thank you for reading.
|
The Week In Cannabis: Illinois Goes Rec, Federal Commerce And Banking Bills, Surterra's $100M Raise And More
While cannabis wasn’t really a hot topic in the Democratic presidential debate last week, it was trending in the news after Illinois Gov. J. B. Pritzker printed his autograph on the legalization bill, making the state the 11th to legalize adult-use marijuana. Commenting on the issue, Debra Borchart, CEO of Green Market Report, told Benzinga what she likes most about Illinois’ approach is “that the legislation will also expunge the records of over 700,000 residents convicted of marijuana-related offenses.
“The bill also includes a ‘social equity program,’ which makes it easier for those with marijuana convictions to get business licenses and the program also allocates $12 million for startup businesses related to cannabis,” she said.
On the federal level, Sen. Ron Wyden (D-OR) and Rep. Earl Blumenauer (D-OR) introduced a bill into Congress that would allow for inter-state cannabis commerce. Another bill that would provide protections to banks that service legal cannabis businesses was passed in the House and is now in Senators’ hands.
Kyle Jaeger, associate editor of Marijuana Moment, is one of the people with their ears closer to the Hill’s beat when it comes to cannabis-related topics. When asked for commentary on these developments, he mentioned that, after years of inaction and stalling, Congress finally seems positioned to “take the incremental steps needed to legitimize and normalize this expanding industry.
“Freeing up banks to service cannabis businesses is considered one of the most commonsense legislative changes lawmakers can enact while advocates rally support for broader reform, and the bipartisan nature of the legislation bodes well for its passage in the Senate,” said Jaeger. The Senate’s appetite for inter-state cannabis commerce is yet to be seen, but recent legislative developments suggest a friendlier approach toward marijuana intiatives in general.
If you want to get this news recap in your email inbox every week, please subscribe tohttps://tinyletter.com/javierhasse
On the corporate front,Surterra Wellnessclosed a $100 million Series D funding round, seeking to accelerate its growth domestically and internationally. The company also announced two key additions to its Board of Directors: former Patrón Spirits CEO Ed Brown and Kevin Fisher, former CEO of New England Treatment Access.
The news is the latest development in a period of rapid growth for Surterra, which includes the recent closure of its acquisition of Massachusetts-based NETA, a $100 million exclusive global partnership withIntrexon Corp(NASDAQ:XON) to advance commercial scale fermentation-based cannabinoid production, and the continuation of global brand building and innovation through R&D, science and technology.
Surterra CEO William “Beau” Wrigley, Jr. told Benzinga, “The results of our Series D funding round illustrate how much trust sophisticated, curated investors have in our vision, business model, and financial track record.”
Newly publicAkerna Corp.(NASDAQ:KERN), parent company to seed-to-sale tracking company MJFreeway, shared some predictions on cannabis consumption trends. The company anticipates Americans will spend more on cannabis this Fourth of July than chicken for their BBQs. Actually, cannabis sales are expected to increase by 80% compared with an average week, ringing in approximately $450 million in total sales nationally. At the current growth rate, Americans are poised to spend more money on cannabis than wine on the Fourth of July by 2020.
Marijuana Stocks & ETFs
Over the last five trading days:
• TheHorizons Marijuana Life Sciences Index ETF(OTC:HMLSF) (TSE:HMMJ) lost 1.%.
• TheETFMG Alternative Harvest ETF(NYSE:MJ) tumbled almost 1%.
• TheAdvisorShares Pure Cannabis ETF(NYSE:YOLO) rose 0.4%.
• TheSPDR S&P 500 ETF Trust(NYSE:SPY) closed the period down 0.34%.
Here are some of the top marijuana stocks (market cap above $500 million) in U.S. exchanges and how the performed over the last five trading days:
•Acreage Holdings(OTC:ACRZF): down 14%
• Aphria Inc(NYSE:APHA): up 4.2%
• Aurora Cannabis Inc(NYSE:ACB): up 7.1%
• CannTrust Holdings Inc(NYSE:CTST): down 1.4%
• Canopy Growth Corp(NYSE:CGC): up 0.4%
• Cronos Group Inc.(NASDAQ:CRON): up 0.25%
•Curaleaf Holdings Inc(OTC:CURLF): down 4.65%
•Green Growth Brands Inc(OTC:GGBXF): down 3.4%
• Green Organic Dutchman Holdings Ltd(OTC:TGODF): down 0.4%
• Green Thumb Industries Inc(OTC:GTBIF): up 3.3%
• GW Pharmaceuticals PLC- ADR(NASDAQ:GWPH): down 0.7%
•Hexo Corp(NYSE:HEXO): down 4.8%
•Harvest Health & Recreation Inc(OTC:HRVSF): down 2.3%
• iAnthus Capital Holdings Inc(OTC:ITHUF): up 7.9%
•Marimed Inc(OTC:MRMD): down 8.6%
• MedMen Enterprises Inc.(OTC:MMNFF): up 11.15%
•OrganiGram Holdings Inc(NASDAQ:OGI): up 1.3%
• Scotts Miracle-Gro Co(NYSE:SMG): up 0.8%
• Tilray Inc(NASDAQ:TLRY): down 7.7%
In Other News
Surterra Wellness also acquired Boston-based Molecular Infusions (Mi). This marked the company’s third acquisition in six months. “Through Mi’s advanced R&D platforms, we will reimagine product formulations and delivery strategies, allowing patients and consumers to benefit from cannabinoids in more effective and predictable ways – both today and in the future,” said Wrigley, Jr.
After much legislative back and forth, Maine finally set up its legal framework for the sale of adult use cannabis, more than two years after citizens voted for legalized sales. Gov. Janet Mills signed the bill into law Thursday. The governor's office said it will accept business license applications by the end of 2019.See more detailas here.
ONE Cannabisannounced the expansion of its leadership team with the additions of Frank Knuettel as Chief Financial Officer, Kacy Sindel as Director of Operations, Cultivation and Jayne Levy as Director of Communications.See more details.
Venture capital firmVice Ventureslaunched a $25 million fund focused “non-traditional” investment verticals like cannabis, alcohol, CBD, e-sports, addiction recovery, sextech, and others. Among investors are World Wide Web Hall of Famer Marc Andreessen and Bradley Tusk, investor, philanthropist, and former Deputy Governor of Illinois.
Founding Partner Catharine Dockery told Benzinga, “I've found that Vice Ventures is often a very divisive topic - some people think of us as drug runners or arms dealers, and others see us as social arbitrageurs. I tend to see us as much more of the latter. We have a catchy name and concept, to be sure, but we care deeply about working with founders who create products for consenting and informed adults. Binary approaches towards vices, from the prohibition of alcohol to the inclusion of cannabis as a schedule 1 drug, have had little success and have caused real social harm in the United States. The social winds of change are blowing, and if we execute on our thesis I'm confident we can deliver exceptional returns to our investors.”
Fruit Slabs,makers of organic, vegan, cannabis-infused fruit strip edible, partnered with cannabis advocate, social influencer and RuPaul’s Drag Race contestant Laganja Estranja, to launch its newest flavor, Pride Passion Fruit flavor.
“Pride Passion is such a special flavor and collaboration for Fruit Slabs. Being able to work closely with La Ganja Estranja and have a true ambassador bring our product to the LGTBQ community makes a huge impact," said Roxanne Dennant, Fruit Slabs CEO. "This product is for everyone, but it is a uniquely honoring our LGBTQ friends.”
Cannabis companyCB2 Insights Inc(OTC:CBIIF) acquired New Jersey Alternative Medicine, one of the state’s largest medical cannabis evaluation and education clinic groups. NJAM, which operates six clinics in the state and serves over 15,000 patients, will transfer all patient care to CB2 Insights under a performance-based agreement. CB2 Insights will operate in New Jersey under its subsidiary Canna Care Docs, the largest multistate medical cannabis clinic operator in the U.S.See more details.
Cannabics Pharmaceuticals Inc(OTC:CNBX), a company focused on personalizing cannabinoid medicine, especially in relation to cancer and its side effects, this week announced the appointment of two new members of their board of directors: Dr. Estery Giloz-Ran and Eran Ballan.See more details.
WGBH News in Boston, KPBS in San Diego, Arizona PBS, NJTV News and WTTW in Chicago recently collaborated to produce “Cannabis Country,” a half-hour news special covering the state of marijuana across the country.
WGBH News takes a look at the new Massachusetts recreational marijuana industry and also grapples with the lack of research on medical marijuana. KPBS takes a look at San Diego cannabis cultivators attempting to meet the demands of a burgeoning legal market. Arizona’s AZPBS takes a look at the business of medical marijuana through the lens of the banking industry, a tricky venture given the drug’s illegal federal status. New Jersey’s NJTV takes a criminal justice angle, digging into how possible legalization in the state would affect those in the criminal justice system with marijuana charges and how law enforcement would need to adapt to a change in legal status. Chicago’s WTTW speaks with both Illinois doctors and patients to learn more about the plant’s medicinal properties.
Kate Zachry, news director at WGBH News said, “With ‘Cannabis Country’ we created a nationally relevant program by pooling the resources of local public media newsrooms across America. The program demonstrates the power of public media to uncover the stories most important to our communities and the flexibility of the system to deliver these stories to new audiences.”
ABV Cannabis Companydeveloped two pre-rolled joint packs with the help of Hippo Packaging. “The goal was to create packs of pre-rolls for an affordable price to our end consumers. I wanted to make sure that the pre-rolls would remain fresh within their packaging and that the packaging was unique and easy to use,” CEO Adolphus A. Busch V told Benzinga.
Organigramis more than doubling its number of cultivation rooms after receiving approval from Health Canada. The authorization will add 17 cultivation rooms to the cannabis producer's previously licensed 13. See more details.
Canopy Growthis adding to its production capacity, announcing that it received a license for an outdoor cultivation site in Northern Saskatchewan.
The first cannabis cuttings were planted at the 160-acre field in the province hours after the license came through, Canopy said. See more details. The company also completed a transaction to acquire Canada-based KeyLeaf Life Sciences, a bio-product extractor company.
CBD Vidaannounced the launch of its website for the sale of CBD products in Brazil.CBD VidaFabio Candello explained that “since the National Health Surveillance Agency (Anvisa) reclassified CBD as an approved for therapeutic use substance, subject to control, a huge market warmed to different forms of exploitation. We have an incredible demand for CBD on domestic soil.”
Mission Dispensariesannounced an official partnership withFormula Drift Racer Alexander Lichliter.The wellness-inspired dispensary will sponsor Lichliter’s participation in upcoming races, including the most recent Drift Nirvana Trilogy of Drift event. Alexander Lichliter, who got his start in racing in 2009, will now race with Mission as a primary sponsor. In alignment with Mission’s goal to promote cannabis and CBD as part of a healthy and active lifestyle, Mission sees this partnership as an opportunity to provide approachable access to information on cannabis on a national platform.
Columbia Care Inc.(OTC:COLXF) will add to its global footprint in the medical cannabis space with the opening of its San Diego, California flagship dispensary on July 3. The launch also marks the first time Columbia Care’s provider-based dispensary process will be implemented in the state. See more details.
KushCo Holdings Inc(OTC:KSHB) said it will develop a new distribution facility in Taylor, Michigan in order to support its operations in the Midwest. See more details.
Curaleafwill expand in Arizona through the acquisition of two separate businesses that will allow it to open two new stores in the Phoenix area. See more details.
GeoShepardlaunched an Android app that aids cultivators in the digital planning, reviewing and measuring of crops while simultaneously automating the data entry of compliance information to government regulatory agencies.
“Cannabis cultivators know how time consuming the monitoring and reporting of everything that comes with compliance can be. From tracking weights and inventory to ensuring plants of a certain growth stage are in the right place and information is accurately reported, the GeoShepard application empowers growers and garden employees to streamline the cumbersome process — easier, faster, more accurate - right from their smartphone,” said CEO Michael Lands.
Green Growth Brandsannounced the appointment of Jann Parish as its Chief Marketing Officer. Parish has a vast marketing experience, having previously served in leadership positions at a number of global brands. She was previously the CMO of Victoria's Secret. See more details.
Supreme Cannabis Company Inc(OTC:SPRWF) launched a premium cannabis oil in partnership with Khalifa Kush Enterprises Canada. The companies first partnered up in December of last year. See more details.
Matthew Ippolito, a 15-year employee and former VP of E. & J. Gallo Winery, announced he’ll take over the role of Vice President of Sales atVertical Companies. In his previous position, Ippolito led Gallo Winery’s 250-employee Northern California Affiliated Wholesaler, Gallo Sales Company, as Vice President & General Sales Manager. In his new position as VP of Sales for Vertical, Ippolito will lead the build out of the company’s Northern California Sales & Operations.
“Since the end of CA’s Cannabis prohibition, I have followed the cannabis industry closely and saw its potential. Given my experiences in the wine and spirits space, I see the parallels between the two industries. I feel I can be a tremendous asset in broadening distribution of Vertical’s vast Cannabis/CBD brand portfolios, and in the designing of sales structures in the legal markets,” he told Benzinga.
Cannabis brandMiss Grassclosed a $4 million funding round, with investors including Listen Ventures, Casa Verde Capital, Advancit Capital, firstminute Capital, Third Kind Venture Capital, and Muse Capital’s Assia Grazioli-Venier and Rachel Springate, among others.
The funds will be fundamental for the company co-founded by Kate Miller and Anna Duckworth, as it prepares to launch its owned product, expand its team, and scale its marketing and partnerships efforts.
"We’re building Miss Grass as a brand that represents how cannabis actually fits into our lives,” asaid Kate Miller, co-founder and CEO of Miss Grass. "When I worked in a medical dispensary in 2008, there weren't any brands that did that, that authentically spoke to the modern consumer. In this evolving industry, creating a strong brand with a loyal community is the recipe for an enduring business. And with our direct relationship to our consumer we see there’s a huge appetite for our educational content, product curation, and real experiences. We're excited to launch product based on what we know our community wants.”
Cannabis media and technology company,Lift & Co Corp.(OTC:LFCOF) has created a meeting place for all consumers, entrepreneurs and investors. The technology helps cannabis consumers explore and understand the legal cannabis market, while offering extensive research and development around products, reviews, events and data. See more details.
MariMed Inc. (OTC:MRMD) announced the appointment of Mr. David Allen to its Board of Directors. As a Director, he will serve as Chair of MariMed’s Audit Committee.
Allen told Benzinga, "I’m looking forward to bringing my experience in managing the business and finances of numerous companies in order to help MariMed capitalize on its innovative product and business strategies during this exciting period of growth in the cannabis and hemp industries. As an easing in the banking restrictions is being considered, we are closely analyzing every aspect to ready MariMed for the transition, as this normalization of the business cycle will likely enable even more investment and growth."
International Cannabrands Inc.(OTC:GEATF) announced that its 51%-owned subsidiary La Vida Verde, entered into an agreement with Bettie Janes, LLC to further expand sales efforts throughout Northern California.
Harvest Health & Recreation’s shareholders held a meeting to approve its acquisition ofVerano Holdingswith 100% of votes cast.
Bellator MMA announced a new multi-year exclusive partnership withcbdMD Inc(NYSE:YCBD), a consumer cannabidiol) brand. As part of the agreement, mixed martial arts organization Bellator MMA will give cbdMD exclusive branding rights inside the Bellator cage. See more details.
GrowGeneration(OTC:GRWG), a specialty retail hydroponic and organic gardening stores, completed a private placement totaling $12.8 million. See more details.
Abercrombie & Fitch Co.(NYSE:ANF) will begin selling CBD products at more than 160 stores. See more details.
Flowr Corp(OTC:FLWPF) made three significant announcements. It announced the acquisition of the remaining 80.2% of Holigen, a company with cultivation and GMP manufacturing and processing assets in Portugal and Australia. With over 500,000kg of annual capacity, Holigen’s assets include one of the largest cultivation facilities in the developed world (Portugal), which has been designated a project of national interest by the government. The company also announced an equity offering of C$125 million and last week they gave word of non-dilutive capital via a C$50 million senior secured credit facility.
Vinay Tolia, Flowr’s CEO told Benzinga, “We had been looking for a global partner for some time and when we met the Holigen team we were extremely excited about their GMP, regulatory and pharma expertise plus the sheer scale of their assets. The combination of Flowr’s cultivation expertise and the mix of Hoiligen’s team and assets makes this a highly complementary acquisition to service the European and Australasia markets.”
The UK’s Centre for Medicinal Cannabis released its latest report. Titled “CBD in the UK: Towards a responsible innovative, and high-quality cannabidiol industry,” the report provides wide-ranging recommendations including amending existing out-of-date legislation; clarity relating to current policy; investment in medical research; and self-regulation among existing business owners. See more details.
True Leaf Brands Inc.(OTC:TRLFF) announced a supply and purchase agreement with leading online cannabis marketplaceNamaste Technologies(OTC:NXTTF).
True Leaf’s hemp-based supplements will be the first products for pets sold by a Namaste e-commerce platform when the line launches on Namaste’s CannMart.com.
“We’re excited to expand our online direct-to-consumer strategy with Namaste,” said Darcy Bomford, Founder and CEO of True Leaf. “In addition to being in more than 3,500 stores worldwide, we’re seeing tremendous growth online with direct-to-consumer sales. We also look forward to working with Namaste as a key distribution partner when we launch our line of legally-compliant CBD products for pets.”
Indiva Advisorsacquired Missouri Cannabis CPA. “We are very excited to expand. There is a huge need and demand for trusted, competent CPAs who can provide specialized services. We keep cannabis businesses both compliant and profitable, so that their owners can sleep easier at night, with less anxiety with potential audits, fines, and fees,” said Indiva Advisors Managing Partner Jessica Velazquez.
Helix TCS, Inc.(OTC:HLIX) announced its subsidiary, BioTrackTHC, was awarded a government cannabis technology contract with the state of New Hampshire, the company’s second government contract in 2019. Earlier in the year, BioTrackTHC’s industry-leading cannabis seed to sale technology was selected by the state of Maine for a government traceability contract, and extended existing traceability contracts with Hawaii, Illinois, and Delaware bringing its total to 10 government contracts.
“We are pleased with the continued confidence in our cannabis tracking technology and look forward to further expanding our market presence as the industry grows,” said Zachary L. Venegas, Executive Chairman and CEO of Helix TCS, Inc.
Cannabis beverage company K-Zen Beverages announced the launch of its first brand, S-Shots, a line of cannabis-infused wellness shots developed with natural ingredients.
“With S-Shots, we wanted to create a brand of great tasting, convenient cannabis wellness shots that appeal to all cannabis users, from the experienced to the curious,” said K-Zen Beverages co-founder and co-CEO Judy Yee. "We're on a mission to share the benefits of cannabis beverages, and with these four initial S-Shot SKUs, we're excited to help consumers find the sensations they seek through consistent formulas, delicious flavors and rapid, predictable results."
Natura Life + Science, a vertically integrated cannabis platform and contract manufacturer, announced an exclusive manufacturing and distribution partnership with Cannibble, an Israel-based food formulation company that specializes in cannabis category innovation. The new agreement will allow Natura to bring dozens of consumer-tested cannabis food products into the U.S. market.
Ori Bytton, CEO of Natura Life + Science, said, "We believe Cannibble's recipes and products solve an important problem in the edibles category, and we thrilled to be working with them to bring their products from Israel into the US market for the first time. This type of partnership is what Natura is all about given our commitment to help cannabis brands launch, scale, and ultimately thrive in the budding cannabis market. It's a win for both of us - Cannibble will grow, and we will be able to offer our manufacturing partners and US consumers cannabis food products that they haven't had access to before."
CannAmerica Brands signed a non-binding letter of intent with Canna Provision for an exclusive license to manufacture and distribute CannAmerica branded cannabis infused gummy products and disposable vape pens, and Live Labs branded cannabis concentrate products, including droppers, shatter and wax concentrate products, and gelatin based capsules in Massachusetts.
“Expanding into the New England region has been a fundamental goal for CannAmerica, we’re looking forward to the prospects of our agreement with Canna Provisions and introducing our products to a thriving, new market,” said Dan Anglin, CEO and Co-Founder of CannAmerica.
Ignite Internationallaunched a new line of topical CBD products, CBD Pain Relief Cream and CBD Roll-On Oil. The new CBD Pain Relief Cream is designed to reduce discomfort and inflammation at the source, and the CBD Roll-On Oil helps with aromatherapeutic stress relief.
Daytripannounced the release of its CBD-infused sparkling water. Daytrip also plans to release a THC infused sparkling water line in California dispensaries.
“Daytrip is on a mission to set the gold standard for cannabis consumables. We plan to completely redefine expectations for CBD and THC infused products, and we’re thrilled with the initial reaction to our sparkling water line,” said Shawn Biega, CEO Daytrip.
Learn more about these and other news with out friends at Marijuana Money.
More From Benzinga Cannabis
Here are some of the most interesting cannabis-related stories from this week.
• Cannabis Advocate Jonathan Hay Drops New Jazz Album, Looking To Repeat Recent Billboard Success
• Scoop: ParcelPal Inks Deal With Ontario Craft Brewery Cowbell
• Study: Association Between Medical Marijuana, Opioid Deaths Could Be 'Spurious'
• Medicine Man's Andy Williams On M&A, Colombia: 'We Can Become A Dominant Supplier Of Cannabis To The World'
• How Brands Can Benefit From Pride Month When Making A Genuine Effort
• Video: Five Minutes With Dr. Dina, Hollywood's Medical Marijuana Maven
• But, Which Spectrum? What You Need To Know About Hemp And Its Chemical Compounds
• Cannabis Sits At The Epicenter Of The Plant-Based Medicine Movement
• A European Landscape: The 21st Century's Women In Cannabis - And An Event For Us
• Cannabis May Treat Fibromyalgia Pain, According To New Study
• Why Marijuana Companies Are Rebranding Themselves As Health Care Companies
• Here's What CBD Can't Do For You
• The Secret Sauce Behind The Best Performing Cannabis ETF In Canada
• Discussing MPX International's South Africa Joint Venture With CEO Scott Boyes
• From Tea To THC: The Heady Rise Of Growpacker's Stephen Boyd
• Cowen: Aurora Is 'Top Pick In Cannabis'
• How Are New Innovations Driving The Cannabis Market Growth?
• Meet The 3 Biggest Industries Investing In Cannabis
Check out these andmanyother cannabis stories onBenzinga.com/cannabis
Events Calendar
July 27:Microscopes & Machineswill bring leaders in cannabis medical research and manufacturing technology for a day-long exploration of cannabis and hemp’s life-changing potential. Featuring Jeff Chen of UCLA’s UCLA Cannabis Research Initiative, Ace Shelander PE of Beaker & Wrench, and many more.
August 1-2:CannaFarm Conwill focus on the new and complex challenges that cannabis farmers face. The event assembles the entire specialty cannabis farming spectrum in one connected space that is focused on providing real solutions with proven success. Attendees will connect firsthand with cutting-edge industry leaders and forward thinkers offering tangible ideas and practical applications for all areas of cannabis agriculture. The event will take place at Paradise Point Resort in San Diego.
August 17-18: The 9th CannaGrow Expo will take place in Palm Springs, California, featuring more than 35 cultivation-focused educational sessions and an expo hall filled with cannabis-related technologies. “One thing that differentiates CannaGrow Expo from other cannabis events is the exciting educational content focused on the foundations of the cannabis industry,” says Jessi Rae, COO of CannaConnections, producers of CannaGrow, DispensaryNext and Science of Cannabis Summit. CannaGrow Expo will feature a special Extraction Summit and the popular Grower Networking Roundtables. Pass prices range from $69 - $399. For more information and to purchase passes, please visit https://cannagrowexpo.com.
October 11-12:CBD Expo MOUNTAINwill bring the largest CBD event platform to Denver, CO to broadcast products with the community and share knowledge with the industry. The event features more than 150+ exhibitors, along with a substantial lineup of speaker presentations, panel discussions, demos and workshops from experts in the research, production, globalization, distribution and sale of CBD products. The theme for CBD Expo MOUNTAIN will focus on compliance & regulation and investments & business.
October 22-23: TheBenzinga Cannabis Capital Conferenceis coming to Chicago, Illinois! You know you can’t miss it. Go to https://www.benzingacannabisconference.com/ for more information.
October 23-24: Marijuana Venture Magazine’sRetail and Dispensary (RAD) Expo, a national trade show focused on the retail cannabis industry, will return to the Oregon Convention Center in Portland, Oregon. The RAD Expo will feature presentations from industry veterans to speak about successful entrepreneurship and topics including merchandising, partnership management, interior store design and retail operations. The 2019 show will focus heavily on CBD products and CBD brands with a presence in health grocery stores, luxury retailers, pet stores and other retail categories that carry hemp-derived products.
November 15-16:CBD Expo EASTwill bring the largest CBD event platform to Orlando, FL to broadcast products with the community and share knowledge with the industry. The event features more than 150+ exhibitors, along with a substantial lineup of speaker presentations, panel discussions, demos and workshops from experts in the research, production, globalization, distribution and sale of CBD products. The theme for CBD Expo EAST will focus on globalization and spa + wellness.
November 19-21: TheMedcann World Forum 2019will be held in the Mediterranean Conference Centre which dates back to the 16th Century. where it was originally built as a hospital by the order of St. John. The three days will focus on six main pillars - Medical, Business, Research, Legislation, Regulatory and Fintech. The event will host Malta’s top policymakers, international regulatory experts and global business leaders.
December 5-6:CBD Expo WESTwill bring the largest CBD event platform to San Diego, CA to broadcast products with the community and share knowledge with the industry. The event features more than 150+ exhibitors, along with a substantial lineup of speaker presentations, panel discussions, demos and workshops from experts in the research, production, globalization, distribution and sale of CBD products. The theme for CBD Expo WEST will focus on research and development and cannabinoid formulations.
Photo byJavier Hasse.
See more from Benzinga
• Flowr Corp To Acquire Holigen Holdings In Cash And Stock Deal
© 2019 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
|
Cabot Corporation (NYSE:CBT): Time For A Financial Health Check
Want to participate in ashort research study? Help shape the future of investing tools and you could win a $250 gift card!
Cabot Corporation (NYSE:CBT) is a small-cap stock with a market capitalization of US$2.8b. While investors primarily focus on the growth potential and competitive landscape of the small-cap companies, they end up ignoring a key aspect, which could be the biggest threat to its existence: its financial health. Why is it important? Evaluating financial health as part of your investment thesis is vital, since poor capital management may bring about bankruptcies, which occur at a higher rate for small-caps. We'll look at some basic checks that can form a snapshot the company’s financial strength. Nevertheless, this is not a comprehensive overview, so I’d encourage you todig deeper yourself into CBT here.
CBT's debt levels surged from US$961m to US$1.3b over the last 12 months , which includes long-term debt. With this rise in debt, CBT currently has US$176m remaining in cash and short-term investments , ready to be used for running the business. Moreover, CBT has generated cash from operations of US$268m during the same period of time, leading to an operating cash to total debt ratio of 21%, indicating that CBT’s current level of operating cash is high enough to cover debt.
With current liabilities at US$1.1b, it seems that the business has been able to meet these obligations given the level of current assets of US$1.5b, with a current ratio of 1.34x. The current ratio is calculated by dividing current assets by current liabilities. For Chemicals companies, this ratio is within a sensible range as there's enough of a cash buffer without holding too much capital in low return investments.
With total debt exceeding equity, CBT is considered a highly levered company. This is a bit unusual for a small-cap stock, since they generally have a harder time borrowing than large more established companies. We can check to see whether CBT is able to meet its debt obligations by looking at the net interest coverage ratio. A company generating earnings before interest and tax (EBIT) at least three times its net interest payments is considered financially sound. In CBT's, case, the ratio of 8.15x suggests that interest is appropriately covered, which means that lenders may be willing to lend out more funding as CBT’s high interest coverage is seen as responsible and safe practice.
Although CBT’s debt level is towards the higher end of the spectrum, its cash flow coverage seems adequate to meet obligations which means its debt is being efficiently utilised. Since there is also no concerns around CBT's liquidity needs, this may be its optimal capital structure for the time being. This is only a rough assessment of financial health, and I'm sure CBT has company-specific issues impacting its capital structure decisions. You should continue to research Cabot to get a better picture of the small-cap by looking at:
1. Future Outlook: What are well-informed industry analysts predicting for CBT’s future growth? Take a look at ourfree research report of analyst consensusfor CBT’s outlook.
2. Valuation: What is CBT worth today? Is the stock undervalued, even when its growth outlook is factored into its intrinsic value? Theintrinsic value infographic in our free research reporthelps visualize whether CBT is currently mispriced by the market.
3. Other High-Performing Stocks: Are there other stocks that provide better prospects with proven track records? Explore ourfree list of these great stocks here.
We aim to bring you long-term focused research analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material.If you spot an error that warrants correction, please contact the editor ateditorial-team@simplywallst.com. This article by Simply Wall St is general in nature. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Simply Wall St has no position in the stocks mentioned. Thank you for reading.
|
Some Oil-Dri of America (NYSE:ODC) Shareholders Are Down 19%
Want to participate in ashort research study? Help shape the future of investing tools and you could win a $250 gift card!
Oil-Dri Corporation of America(NYSE:ODC) shareholders should be happy to see the share price up 13% in the last month. But in truth the last year hasn't been good for the share price. In fact the stock is down 19% in the last year, well below the market return.
View our latest analysis for Oil-Dri of America
In his essayThe Superinvestors of Graham-and-DoddsvilleWarren Buffett described how share prices do not always rationally reflect the value of a business. By comparing earnings per share (EPS) and share price changes over time, we can get a feel for how investor attitudes to a company have morphed over time.
During the unfortunate twelve months during which the Oil-Dri of America share price fell, it actually saw its earnings per share (EPS) improve by 65%. It's quite possible that growth expectations may have been unreasonable in the past. It's surprising to see the share price fall so much, despite the improved EPS. But we might find some different metrics explain the share price movements better.
Revenue was fairly steady year on year, which isn't usually such a bad thing. But the share price might be lower because the market expected a meaningful improvement, and got none.
You can see how earnings and revenue have changed over time in the image below (click on the chart to see the exact values).
We consider it positive that insiders have made significant purchases in the last year. Even so, future earnings will be far more important to whether current shareholders make money. Dive deeper into the earnings by checking this interactive graph of Oil-Dri of America'searnings, revenue and cash flow.
It is important to consider the total shareholder return, as well as the share price return, for any given stock. Whereas the share price return only reflects the change in the share price, the TSR includes the value of dividends (assuming they were reinvested) and the benefit of any discounted capital raising or spin-off. Arguably, the TSR gives a more comprehensive picture of the return generated by a stock. In the case of Oil-Dri of America, it has a TSR of -17% for the last year. That exceeds its share price return that we previously mentioned. The dividends paid by the company have thusly boosted thetotalshareholder return.
Oil-Dri of America shareholders are down 17% for the year (even including dividends), but the market itself is up 7.8%. Even the share prices of good stocks drop sometimes, but we want to see improvements in the fundamental metrics of a business, before getting too interested. On the bright side, long term shareholders have made money, with a gain of 4.6% per year over half a decade. If the fundamental data continues to indicate long term sustainable growth, the current sell-off could be an opportunity worth considering. If you want to research this stock further, the data on insider buying is an obvious place to start. You canclick here to see who has been buying shares - and the price they paid.
If you like to buy stocks alongside management, then you might just love thisfreelist of companies. (Hint: insiders have been buying them).
Please note, the market returns quoted in this article reflect the market weighted average returns of stocks that currently trade on US exchanges.
We aim to bring you long-term focused research analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material.If you spot an error that warrants correction, please contact the editor ateditorial-team@simplywallst.com. This article by Simply Wall St is general in nature. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Simply Wall St has no position in the stocks mentioned. Thank you for reading.
|
Read This Before Judging Oil-Dri Corporation of America's (NYSE:ODC) ROE
Want to participate in ashort research study? Help shape the future of investing tools and you could win a $250 gift card!
While some investors are already well versed in financial metrics (hat tip), this article is for those who would like to learn about Return On Equity (ROE) and why it is important. To keep the lesson grounded in practicality, we'll use ROE to better understand Oil-Dri Corporation of America (NYSE:ODC).
Oil-Dri of America has a ROE of 8.3%, based on the last twelve months. One way to conceptualize this, is that for each $1 of shareholders' equity it has, the company made $0.083 in profit.
Check out our latest analysis for Oil-Dri of America
Theformula for ROEis:
Return on Equity = Net Profit ÷ Shareholders' Equity
Or for Oil-Dri of America:
8.3% = US$11m ÷ US$138m (Based on the trailing twelve months to April 2019.)
It's easy to understand the 'net profit' part of that equation, but 'shareholders' equity' requires further explanation. It is the capital paid in by shareholders, plus any retained earnings. Shareholders' equity can be calculated by subtracting the total liabilities of the company from the total assets of the company.
ROE looks at the amount a company earns relative to the money it has kept within the business. The 'return' is the yearly profit. A higher profit will lead to a higher ROE. So, as a general rule,a high ROE is a good thing. That means it can be interesting to compare the ROE of different companies.
One simple way to determine if a company has a good return on equity is to compare it to the average for its industry. However, this method is only useful as a rough check, because companies do differ quite a bit within the same industry classification. If you look at the image below, you can see Oil-Dri of America has a lower ROE than the average (11%) in the Household Products industry classification.
That's not what we like to see. We prefer it when the ROE of a company is above the industry average, but it's not the be-all and end-all if it is lower. Still,shareholders might want to check if insiders have been selling.
Virtually all companies need money to invest in the business, to grow profits. That cash can come from issuing shares, retained earnings, or debt. In the case of the first and second options, the ROE will reflect this use of cash, for growth. In the latter case, the use of debt will improve the returns, but will not change the equity. That will make the ROE look better than if no debt was used.
Oil-Dri of America has a debt to equity ratio of just 0.045, which is very low. I'm not impressed with its ROE, but the debt levels are not too high, indicating the business has decent prospects. Careful use of debt to boost returns is often very good for shareholders. However, it could reduce the company's ability to take advantage of future opportunities.
Return on equity is useful for comparing the quality of different businesses. Companies that can achieve high returns on equity without too much debt are generally of good quality. If two companies have the same ROE, then I would generally prefer the one with less debt.
But when a business is high quality, the market often bids it up to a price that reflects this. Profit growth rates, versus the expectations reflected in the price of the stock, are a particularly important to consider. You can see how the company has grow in the past by looking at this FREEdetailed graphof past earnings, revenue and cash flow.
Of courseOil-Dri of America may not be the best stock to buy. So you may wish to see thisfreecollection of other companies that have high ROE and low debt.
We aim to bring you long-term focused research analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material.If you spot an error that warrants correction, please contact the editor ateditorial-team@simplywallst.com. This article by Simply Wall St is general in nature. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Simply Wall St has no position in the stocks mentioned. Thank you for reading.
|
Is Turning Point Brands, Inc.'s (NYSE:TPB) High P/E Ratio A Problem For Investors?
Want to participate in ashort research study? Help shape the future of investing tools and you could win a $250 gift card!
Today, we'll introduce the concept of the P/E ratio for those who are learning about investing. We'll look at Turning Point Brands, Inc.'s (NYSE:TPB) P/E ratio and reflect on what it tells us about the company's share price.What is Turning Point Brands's P/E ratio?Well, based on the last twelve months it is 33.04. That corresponds to an earnings yield of approximately 3.0%.
Check out our latest analysis for Turning Point Brands
Theformula for P/Eis:
Price to Earnings Ratio = Share Price ÷ Earnings per Share (EPS)
Or for Turning Point Brands:
P/E of 33.04 = $48.98 ÷ $1.48 (Based on the trailing twelve months to March 2019.)
A higher P/E ratio means that buyers have to paya higher pricefor each $1 the company has earned over the last year. That is not a good or a bad thingper se, but a high P/E does imply buyers are optimistic about the future.
Probably the most important factor in determining what P/E a company trades on is the earnings growth. That's because companies that grow earnings per share quickly will rapidly increase the 'E' in the equation. That means even if the current P/E is high, it will reduce over time if the share price stays flat. A lower P/E should indicate the stock is cheap relative to others -- and that may attract buyers.
Turning Point Brands increased earnings per share by a whopping 33% last year. And earnings per share have improved by 10% annually, over the last three years. I'd therefore be a little surprised if its P/E ratio was not relatively high.
We can get an indication of market expectations by looking at the P/E ratio. The image below shows that Turning Point Brands has a higher P/E than the average (13) P/E for companies in the tobacco industry.
Turning Point Brands's P/E tells us that market participants think the company will perform better than its industry peers, going forward. Shareholders are clearly optimistic, but the future is always uncertain. So investors should always consider the P/E ratio alongside other factors, such aswhether company directors have been buying shares.
The 'Price' in P/E reflects the market capitalization of the company. So it won't reflect the advantage of cash, or disadvantage of debt. Hypothetically, a company could reduce its future P/E ratio by spending its cash (or taking on debt) to achieve higher earnings.
While growth expenditure doesn't always pay off, the point is that it is a good option to have; but one that the P/E ratio ignores.
Net debt totals 22% of Turning Point Brands's market cap. That's enough debt to impact the P/E ratio a little; so keep it in mind if you're comparing it to companies without debt.
Turning Point Brands trades on a P/E ratio of 33, which is above the US market average of 18.1. While the company does use modest debt, its recent earnings growth is superb. So to be frank we are not surprised it has a high P/E ratio.
Investors have an opportunity when market expectations about a stock are wrong. People often underestimate remarkable growth -- so investors can make money when fast growth is not fully appreciated. So thisfreereport on the analyst consensus forecastscould help you make amaster moveon this stock.
Of courseyou might be able to find a better stock than Turning Point Brands. So you may wish to see thisfreecollection of other companies that have grown earnings strongly.
We aim to bring you long-term focused research analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material.If you spot an error that warrants correction, please contact the editor ateditorial-team@simplywallst.com. This article by Simply Wall St is general in nature. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Simply Wall St has no position in the stocks mentioned. Thank you for reading.
|
Teen who turned up at London hospital with stab wounds dies
An 18-year-old man has died after he went to a south London hospital suffering from stab wounds - the latest person killed by violence in the capital this weekend. Police had been called just before 5am this morning to reports of a fight at Sutherland Walk in Walworth, near Kennington. When officers went to the scene they could not find the victim - and it is believed he was the man who had turned up at a hospital. He was treated for serious injuries but was pronounced dead at 7.23am. Three men were arrested in connected with the stabbing and they remain in custody. Anyone who witnessed the incident is urged to contact police on 101 quoting 2065/30JUN, tweet @MetCC or call Crimestoppers anonymously on 0800 555 111. Meanwhile, police are also investigating after a man died following reports of a fight in Coldharbour Lane, between Brixton and Camberwell in south London. Officers were called just before 6pm on Saturday and found a 54-year-old injured at the scene. He was taken to a hospital where he was pronounced dead at 10.10pm. Two people have been arrested in connection with that incident. Also, a pregnant woman fatally stabbed in south London has been named as Kelly Mary Fauvrelle . The 26-year-old was eight months pregnant when she was stabbed in Thornton Heath in Croydon in the early hours of Saturday. She died, but her baby was delivered and is fighting for life in hospital. A 37-year-old man was arrested on suspicion of murder and has been released under investigation pending further enquiries. Police have made a second arrest - a 29-year-old man - who remains in custody in south London. He was also arrested on suspicion of murder. Watch the latest videos from Yahoo UK
|
Cory Booker: Joe Biden causing ‘pain with his words’
Sen. Cory Booker, D-N.J., criticized 2020 presidential rival Joe Biden on Sunday, saying the former vice president was doing a poor job at healing racial divisions in the country. "We have one destiny in this nation, and right now the vice president to me is not doing a good job at bringing folks together," Booker said on NBC's " Meet the Press ." He added: "In fact, he's caused — and I've heard this from people all around the country — he's causing a lot of frustration and even pain with his words." Sen. Cory Booker on "Meet the Press." (Image: NBC) Earlier in the interview, Booker cited comments Biden made about working in the Senate decades ago with segregationists like James O. Eastland. At a fundraiser earlier this month, Biden said Eastland “ never called me ‘boy,’ ” an epithet used against black men. "I was talking about the vice president's comments well before the debate, where he used words like 'boy' in a way that caused a lot of hurt and harm. And I called him out on it," Booker said Sunday. "Instead of coming forward, saying, 'I could have said that better,' or, 'Let me tell you what I meant,' he fell into a defensive crouch." Biden's stance on racial issues became a focal point of the 2020 primary after the debates last week. In the biggest standout moment of the two debates, Sen. Kamala Harris, D-Calif., directly and emotionally challenged Biden's comments about segregationists and his opposition to federally mandated busing programs. Former Vice President Joe Biden, Sen. Bernie Sanders and Sen. Kamala Harris during the Democratic presidential debate on Thursday. (Photo: Drew Angerer/Getty Images) “There was a little girl in California who was part of the second class to integrate her public school, and she was bused to school every day,” Harris said at the Thursday-night debate. “And that little girl was me. So I will tell you that on this subject, it cannot be an intellectual debate among Democrats.” Biden called the debate broadside a “mischaracterization” of his position “across the board.” “I did not praise racists. That is not true, No. 1,” he said. “No. 2, if we want to have this campaign litigated on who supports civil rights and whether I did or not, I’m happy to do that.” Story continues Booker did not get to face off against Biden in the debate, as the New Jersey senator was in the Wednesday-night debate, part of a two-night setup to handle the roughly two dozen Democrats in the race. But Booker — who like Harris is African-American — has repeatedly criticized Biden on various issues touching on race. On "Meet the Press," he stressed that his party's nominee needed to be someone who could speak with "vulnerability" about race "to call this country to common ground, to reconciliation." "I'm not sure if Vice President Biden is up to the task," he added, "given the way the last three weeks have played out." _____ Read more from Yahoo News: Former top U.S. diplomat deplores policy toward Iran 'untethered to any coherent strategy' Pentagon secretly struck back against Iranian cyberspies targeting U.S. ships Trump admits his Cabinet had 'some clinkers' For Dems, there's no chickening out at Clyburn's fish fry Chore wars: Are men doing enough housework? PHOTOS: Moon rock samples sealed since Apollo missions
|
Puerto Princesa Underground River: Google Doodle celebrates stunning natural park in Philippines
Google has put out a new doodle to celebrate the Puerto Princesa Subterranean River, a Philippines national park and UNESCO world heritage site. The new Google Doodle is commemorating the seventh anniversary of the site making the Ramsar List of Wetlands of International Importance. The designation entails protection for the area under the Ramsar Convention – an international treaty for the conservation of wetlands. The site is also one of the UNESCO World Heritage Sites , and a global poll designated it as one of the new seven wonders of nature in 2011. In one of the most unique features of the national park, located on the western coast of Palawan Island, the Cabayugan River reaches the 3,280-feet Saint Paul limestone mountain – and disappears into it. It becomes one of the world’s longest subterranean rivers, remaining underground for some five miles (8.2 km) before flowing directly into the sea. During its course, the river forms “one of the world’s most impressive cave systems” according to UNESCO, featuring spectacular stalactite and stalagmite formations and including the “Italian’s Chamber”, which at 360 metres long and 80 metres high is one of the largest caves in the world. The new Google Doodle features the entrance of the natural wonder. The lower half of the river is subject to tides, and stands out as a significant natural global phenomenon. The rest of the Puerto Princesa Subterranean River Natural Park also forms stunning karst landscapes, areas of pristine natural beauty and intact old-growth forests. Ramsar calls the site “unique” because it “connects a range of important ecosystems from the mountain-to-the-sea, including a limestone karst landscape with a complex cave system, mangrove forests, lowland evergreen tropical rainforests, and freshwater swamps.” It is also important for its biodiversity, being home animal species found nowhere else, including giant spiders, crabs, fish and 15 endemic species of birds – including the Palawan peacock pheasant and the Tabon scrub fowl. The critically endangered Philippine cockatoo and Hawksbill turtle also find home in the park, together with the endangered Green sea turtle, Nordmanns greenshank and some 800 plant and 233 animal species in total. Small boats carry sightseers underground to marvel at the underground caves. View comments
|
Mums delighted by new black Barbie who wears her hair natural and uses a wheelchair to enter Dreamhouse
Mattel has created a new black Barbie who wears her hair natural and uses a wheelchair [Image: Mattel] Barbie dolls have long been slammed for their lack of inclusive body types. So it is unsurprising many are delighted by creator Mattel’s latest unveiling. The American toy brand has launched a black Barbie who uses a wheelchair and wears her hair natural. While a white disabled Barbie was released in the 1990s, this is the first time the company have released a black doll in the same situation. The new doll uses a special pink ramp to enter her Dreamhouse [Image: Mattel] READ MORE: New Barbie range features dolls in wheelchairs and with prosthetic limbs The new product, which is available in the UK for £16.99, also comes with a pink ramp for ease of access to her Dreamhouse. Mattel ensured the wheelchair she uses s as realistic as possible by working with UCLA Mattel Children’s hospital. People have rushed to praise the new doll on Twitter. One person wrote: “I can’t even begin to express how happy I am that more and more young girls are growing up seeing themselves in Barbie.” Another commented: “And with beautiful Afro puffs!!!!!” A third shared: “This Barbie also has natural hair. “I’ve admittedly not kept up on where our gal Barbie’s at these days, but a natural hair black Barbie also seems notable, in addition to positively representing disability.” THERE’S NOW A BARBIE IN A WHEELCHAIR i can’t even begin to express how happy i am that more and more young girls are growing up seeing themselves in Barbie pic.twitter.com/XL2PEetu6G — julienne @ forest temple🌿 (@summersnoqueen) June 27, 2019 And with beautiful Afro puffs!!!!! — torie horton (@torielicious) June 28, 2019 This Barbie also has natural hair. I’ve admittedly not kept up on where our gal Barbie’s at these days, but a natural hair black Barbie also seems notable, in addition to positively representing disability. https://t.co/ovv1eDW4rC — ✨Prof✨ (@EGBridges) June 28, 2019 READ MORE: McDonald’s is giving out free Roald Dahl books to encourage children to read more Story continues The white wheelchair-using Barbie was eventually discontinued because she could’t access her doll house - and it appears Mattel have taken note. “The product comes with a ramp to make the play as seamless as possible with current offerings, including the Dreamhouse,’ a spokesperson told Yahoo Lifestyle. “The wheelchair does not fit with every Barbie accessory currently, but will moving forward.” It comes as the brand released a hijab-wearing Barbie, as well dolls who reflect ‘real’ body types - unlike their original white, busty, small-waisted counterparts. Watch the latest videos from Yahoo Style UK:
|
BitMEX has clocked in $1 trillion in volumes over the last year
The bitcoin futures market continues to heat up, but BitMEX is leading the pack.
The exchange, which saw$7 billion worth of cryptocurrency-tied perpetual futures trade handson its platform over the last 24-hours, has clocked in more than $1 trillion in trading volumes over the last 365 days, according to a tweet by itsCEO Arthur Hayes.
Data shows BitMEX commands 57% market share, beating other venues such as Deribit (~16%), Huobi DM (~14%) and OKEx (~10%) as well as CME Group (~2.5%).
Still, BitMEX may soon see its position on the top rival as other players look to gate-crash the market for cryptocurrency derivatives.
Binance and Bitfinex are both looking to launch their own offerings in the space.
|
AOC calls out Ivanka Trump's G20 Summit blunder
U.S. Rep. Alexandria Ocasio-Cortez (D-NY) (Photo by Alex Wong/Getty Images) Alexandria Ocasio-Cortez is calling out Ivanka Trump after a video of the Presidential Advisor attempting to chat with world leaders at the G20 Summit in Osaka, Japan went viral. Ocasio-Cortez, who currently represents New York’s 14th congressional district, spoke out on Twitter after a video from the summit showed Trump, 37, awkwardly trying to join in on a conversation. “It may be shocking to some, but being someone’s daughter actually isn’t a career qualification,” Ocasio-Cortez wrote on Twitter . “It hurts our diplomatic standing when the President phones it in & the world moves on. The US needs our President working the G20. Bringing a qualified diplomat couldn’t hurt either.” It may be shocking to some, but being someone’s daughter actually isn’t a career qualification. It hurts our diplomatic standing when the President phones it in & the world moves on. The US needs our President working the G20. Bringing a qualified diplomat couldn’t hurt either. https://t.co/KCZMXJ8FD9 — Alexandria Ocasio-Cortez (@AOC) June 30, 2019 In the video, Trump is seen attempting to participate in a discussion alongside French President Emmanuel Macron, British Prime Minister Theresa May, and Canadian Prime Minister Justin Trudeau. Also present is Christine Lagarde, Managing Director of the International Monetary Fund, who appears to disregard Trump’s attempts to join in on the conversation. Soon after the video surfaced, Twitter commenters chimed in with responses. “Ivanka Trump is every rich media intern whose dad plays golf with management and will eventually be your editor,” Shafik Mandhai wrote. Ivanka Trump is every rich media intern whose dad plays golf with management and will eventually be your editor. https://t.co/CWqd84HCDr — Shafik Mandhai (@ShafikFM) June 30, 2019 “The expression on Lagarde’s face,” wrote professor and author Daniel W. Drezner. Story continues The expression on Lagarde’s face... https://t.co/6EmjwBlQue — Daniel W. Drezner (@dandrezner) June 30, 2019 “The power of the side eye from Lagarde just boosted my phone battery 10%,” replied user Christy Davis. The power of the side eye from Lagarde just boosted my phone battery 10%. — Christy Davis (@DrEduGator) June 30, 2019 “Why is Ivanka Trump in a discussion with Macron, May, Lagarde, and Trudeau? Two years ago she was a "fashion designer" stealing designs from other designers, and selling condos using deceptive tactics. She shouldn't be representing the United States in any capacity,” another user chimed in . Why is Ivanka Trump in a discussion with Macron, May, Lagarde, and Trudeau? Two years ago she was a "fashion designer" stealing designs from other designers, and selling condos using deceptive tactics. She shouldn't be representing the United States in any capacity. pic.twitter.com/Heycyaly4n — Christopher Bouzy (@cbouzy) June 30, 2019 “ @IvankaTrump is so terribly embarrassing it gives me knots in my stomach. Christine Lagarde is probably one of the smartest women on the planet and is no doubt wondering why she must entertain the #LiarInChief ’s shoe-counterfeiting daughter,” another user wrote . @IvankaTrump is so terribly embarrassing it gives me knots in my stomach. Christine Lagarde is probably one of the smartest women on the planet and is no doubt wondering why she must entertain the #LiarInChief ’s shoe-counterfeiting daughter 🙄 — questions4potus (@questions4potu1) June 29, 2019 Trump did manage to get in some speaking time at the G20, however. During her speech at the Special Event on Women’s Empowerment, Trump called on world leaders to prioritize empowering women, and even praised her father’s administration for establishing the Women’s Global Development and Prosperity initiative, the Japan Times reports . “Every nation, including the United States, can — and should — do more,” she added. “If we propose bold solutions and challenge the limits of the past, we’ll empower women to lift their families out of poverty, to grow the economies in their countries and to deliver greater peace and prosperity to millions around the world,” Trump told the crowd. Read more from Yahoo Lifestyle: Melania Trump is noticeably absent from the G-20 summit photos: ‘Was she at the spa?’ Alexandria Ocasio-Cortez supports #WayfairWalkout: 'This is what solidarity looks like' Alexandria Ocasio-Cortez slams 'card-carrying and flag-waving racists' Follow us on Instagram , Facebook , and Twitter for nonstop inspiration delivered fresh to your feed, every day.
|
Bitcoin Mining Exec Reveals the Key to Sustaining Crypto’s Future
It’s no secret that miningbitcoinconsumes an extraordinary amount of energy—in fact, more than the entire country of New Zealand.
Such a level of energy consumption is not only a problem for the existential issue of climate change, but also threatens the sustainability of theentire bitcoin (and crypto) economy. If bitcoin mining becomes too costly from an environmental and economic standpoint, the whole network could have a real crisis on its hands.
Fortunately, miners are doing something about it by leaning into renewables.
Satoshi Nakamoto’sintroduction of Bitcoinas a peer-to-peer electronic cash system in 2008 set off the next 10 years of innovation in distributed technology and cryptocurrencies. If it weren’t for bitcoin, we probably wouldn’t have ICOs, STOs, crypto exchanges, and CryptoKitties.
The reason bitcoin was so revolutionary was because, for the first time in internet history, reliance on third-party intermediaries (banks) to validate transactions between entities was eliminated.
Read the full story on CCN.com.
|
Donald Trump Meets Kim Jong-Un At DMZ For Handshake
Click here to read the full article. UPDATE : President Donald Trump took 20 steps into North Korea on Sunday, becoming the first sitting US president to visit that country. Trump shook hands with North Korean Chairman Kim Jong-un as he stepped over the stone curb separating North and South Korea. The DMZ session included a 50-minute private meeting in a nearby bungalow, the first between the leaders since a Vietnam summit ended in February. Related stories President Trump Jeers Dem Debaters, Snipes At 'Sleepy Joe' And 'Crazy Bernie' 'Last Week Tonight': John Oliver Talks How Jared Kushner's Middle East Peace Plan Focuses On "Not Doing Terrorism" President Donald Trump Tweetstorm - The Sunday Edition The meeting was apparently fruitful. Trump and Kim agreed to revive talks on ridding North Korea’s nuclear weapons capabilities. A transcript of their meeting was provided at the historic moment. US President Donald Trump and North Korean leader Kim Jong Un have shaken hands at the demilitarized zone (DMZ), before both leaders stepped into North Korea https://t.co/nQM59lEuEv pic.twitter.com/n7Z6V8mNIU — CNN (@CNN) June 30, 2019 REMARKS BY PRESIDENT TRUMP AND CHAIRMAN KIM JONG UN OF THE DEMOCRATIC PEOPLE’S REPUBLIC OF KOREA IN 1:1 MEETINGPanmunjom Inter-Korean House of Freedom 3:57 P.M. KSTCHAIRMAN KIM: (In progress.) (As interpreted.) It’s always special and I want to thank you (inaudible) for having me. PRESIDENT TRUMP: I want to thank you. Because (inaudible.) It was great. Look, I mean, the world is watching, and it’s very important for the world. Story continues CHAIRMAN KIM: (As interpreted.) And also, the place of our meeting is special. That is why it rose the occasion of so many people. Some people think as if this meeting was prearranged through the letters you have sent me. But myself was surprised yesterday morning when you expressed a willingness to meet with me here, and also when we got the official confirmation late yesterday afternoon. And also, (inaudible) to meet with you again. And this place of our meeting is a symbol of the separation between the North and South, and also a reminder of unfortunate past. And as the two countries, we share a long unfortunate past, meeting at such place shows that we are willing to put an end to the unfortunate past and also open a new future and provide positive opportunities in the future. If it was not for our excellent relation between the two of us, it would not have been possible to have this kind of opportunity. So I would like to use this strong relation to create more good news, which nobody expects (inaudible), and also to propel the good relations between our countries (inaudible). PRESIDENT TRUMP: Well, I want to thank you, Chairman. You hear the power of that voice. Nobody has heard that voice before. He doesn’t do news conferences, in case you haven’t heard. And this was a special moment. This is, I think, really — as President Moon said, this is a historic moment, the fact that we’re meeting. And I want to thank Chairman Kim for something else. When I put out the social media notification, if he didn’t show up, the press was going to make me look very bad. So you made us both look good, and I appreciate it. But we’ve developed a great relationship. I really think that, if you go back two and half years, and you look at what was going on prior to my becoming President, it was a very, very bad situation — a very dangerous situation for South Korea, for North Korea, for the world. And I think the relationship that we’ve developed has meant so much to so many people. And it’s just an honor to be with you, and it was an honor that you asked me to step over that line. And I was proud to step over the line. I thought you might do that; I wasn’t sure. But I was ready to do it. And I want to thank you. It’s been great. It’s been great. A very historic meeting. We were just saying — one of the folks from the media was saying this could to be a very historic moment, and I guess that’s what it is. But I enjoyed being with you, and thank you very much. EARLIER: President Donald Trump today offered to run for the North Korean border and reach across the demilitarized zone to shake hands in a grip-and-grin session with Chairman Kim Jong-un. Trump will be stopping in Korea as he returns from the G-20 Summit in Osaka, Japan. He previously tried to visit the DMZ in 2017, but bad weather grounded his helicopter. The heavily guarded border between North Korea and South Korea is one of the world’s trip wires, littered with land mines and once described as “the scariest place on earth” by former President Bill Clinton. It was created after the 1953 armistice. North and South Korean leaders have often met in the blue buildings that straddle the border. Trump has recently exchanged letters with Kim after their last summit ended abruptly. After some very important meetings, including my meeting with President Xi of China, I will be leaving Japan for South Korea (with President Moon). While there, if Chairman Kim of North Korea sees this, I would meet him at the Border/DMZ just to shake his hand and say Hello(?)! — Donald J. Trump (@realDonaldTrump) June 28, 2019 Sign up for Deadline's Newsletter . For the latest news, follow us on Facebook , Twitter , and Instagram .
|
The blockchain/crypto week in quotes
“You (Mark Zuckerberg) might consider changing the Libra’s name. The “Libra” was a measure of weight from the Roman Empire, and we know where that ended up. Don’t be bashful; call it the “Mark.” Germany ditched its mark, which it had been using since it created it after WWII, for the euro 20 years ago, so the name is up for grabs. A gold-backed Mark would be a transformative move in the history of money. It would blow Bitcoin out of the water and would generate an enthusiastic “Like” from billions of businesses and people, now and forever.” Steve Forbes, Chairman and Editor-in-Chief of Forbes Media (0) This will be a thread about Bitfinex’s 1st ieo – Ampleforth $AMPL . Whilst with a novel token mechanics, it is anything but stable (faaaar from it, and may not be so even at scale). The somewhat misleading signals might fool many initially, but it’s great trading sardine! — Maple Leaf Capital (@MapleLeafCap) June 27, 2019 “Emerging markets are where cryptocurrencies matter. When I look at the developed world, I don’t care. It’s highly regulated and, in many cases, a rigged system. If I decide to compete with a tech company they can just push me out via regulation. Then I sit down with the prime minister of Georgia and he says, ‘we’re open for business.’ We can rebuild parts of their education infrastructure, create a new payments system or do a medical records system. The keys to the kingdom are right there. That’s four million people who in 10 or 20 years will be very high-value users.” Cardano Founder Charles Hoskinson “Facebook was a catalyst for Bitcoin breaking above $10,000. One of the largest companies in the world said we believe in cryptocurrencies. If you’re an institutional investor who’s getting close and still worried about investing, it makes you that much more confident…A huge amount of the volumes of what’s going on in Bitcoin and other currencies is coming out of Asia.” Michael Novogratz, CEO, Galaxy Digital Holdings “Due to the astonishing and quickening pace of the digitalisation of the global economy – and the far-reaching impact of this – political leaders, finance ministers, central bank representatives and others at this year’s G20 summit must ensure decisive steps towards a multilateral cryptocurrency regulatory framework are taken. A failure to do so would be, in my opinion, irresponsible and negligent.” Nigel Green, Chief Executive and Founder, deVere Group Story continues $BTC dominance needs to hit 70% Then we will start to see some real shitcoin deaths The strong will recover Let's take out the trash — ⛏Crypto Christopher Walken🥃 (@cryptochrisw) June 26, 2019 “Bitcoin will hit somewhere between $60,000 and $100,000 during its next bull run.” ThinkMarkets Chief Market Analyst Naeem Aslam Keep buying bitcoin until CNBC says to buy it. — Erik Voorhees (@ErikVoorhees) June 28, 2019 “Libra is like a centralised wolf in a decentralised sheep’s clothing.” Joseph Lubin, Founder of ConsenSys and Co-founder of Ethereum reminder, Bitcoin is a hypervolatile asset. This is great for volatility and other dedicated traders. For most, taking a long-term view is more appropriate https://t.co/NX5FruWVEx — Thomas Lee (@fundstrat) June 27, 2019 “I think cryptocurrency doubters are finding it hard to continue their cause.” Antoni Trenchev, Co-founder and Managing Partner, Nexo “The entry of large technology firms into financial services holds the promise of efficiency gains and can enhance financial inclusion. But regulators need to ensure a level playing field between big techs and banks, taking into account big techs’ wide customer base, access to information and broad-ranging business models. Their entry presents new and complex trade-offs between financial stability, competition and data protection.” The Bank of International Settlements (BIS) Facebook and all of its affiliated services openly discriminate, especially sex workers. It's important that money is kept separate from opinion and that's part of what I loved about Bitcoin and Eth and what made it next-level. — 𝕭𝖗𝖊𝖓𝖓𝖆 𝕾𝖕𝖆𝖗𝖐𝖘 (@brennasparksxxx) June 25, 2019 “For those involved in the crypto industry, the Bitcoin price rise should come as no surprise. We’ve recently seen perfect market conditions for a rally, and it shows no sign of stopping. The recent Facebook Libra announcement, as well as the heightened demand for CME crypto futures, show that large institutions are realising the opportunity cost of not being involved in crypto, and dragging the market up with them. Conditions are also perfect for any nervous retail investors considering dipping their toes back into crypto investing. Firstly, the Bitcoin hash rate is at an all time high, making the digital currency more more secure than ever. Furthermore, passing the 10k mark will also trigger FOMO, meaning we could see a large scale re-entry to the market. If this trajectory continues, then 2019 could be a record-breaking year for Bitcoin.” Herbert Sim, Head of Business Development, Broctagon A scalable, sufficiently decentralized, chain that supported private transactions by default (privacy coins) would be a game changer. — Brian Armstrong (@brian_armstrong) June 23, 2019 “I’m really excited about doing this. I hope it makes me rich.” Former Donald Trump advisor Stephen Moore on joining Decentral The post The blockchain/crypto week in quotes appeared first on Coin Rivet . View comments
|
Billionaire Bernie Marcus to donate majority of fortune, support Trump for re-election
Billionaire Bernie Marcushas already given more than $2 billion to upwards of 300 organizations, and he said he plans to donate the majority of his fortune while he’s still alive and support President Trump for re-election in the 2020 presidential election.
The Home Depot co-founder told theAtlanta Journal-Constitutionover the weekend that he will continue to look for worthy causes to donate to in the years to come. Marcus, 90, added that 80 to 90 percent of his wealth will go to the Marcus Foundation when he dies to fund other organizations such as medical discoveries, helping children with autism and veteran support.
“I want to live to be 100 because I want to be in a position to give it away to those things that I really believe in,” Marcus told the newspaper. “I’ve got all the houses I need. I live very well. My kids are taken care of. Everything I live for now is finding the right things to put my money into and that can give me a rate of return in emotion and doing good things for this world.”
Marcus has an estimated net worth of $5.8 billion, according toForbes. The billionaire has donated more than $2 billion to philanthropic causes, including $250 million to build the Georgia Aquarium. The businessman could donate up to $6 billion in his lifetime.
When asked about his net worth, Marcus said he doesn’t “have a clue.”
“You know when I find out what I’m worth? Once a year, I go through it with my accountants. I don’t have a clue. My key is how much can I give away this year?” he told the Atlanta Journal-Constitution.
Marcus was also a top donor to President Trump’s 2016 presidential campaign — and he plans to support the president during his 2020 re-election bid, the Atlanta Journal-Constitution reported.
“[Trump’s] got a businessman’s common sense approach to most things,” Marcus said. “…Now, do I agree with every move that he makes? No, I don’t. But the truth is he has produced more than anybody else. He has. If we look at this country, I would say that we are better off today than we were eight years ago or six years ago.”
Marcus said Trump’s biggest flaw is his communication skills.
“I’ll tell you what he has not done well: His communication sucks. I mean he takes on every battle. He’s fighting. He does things he shouldn’t be doing,” he said. “As president of the United States, I’d rather him do things that are meaningful.”
CLICK HERE TO GET THE FOX BUSINESS APP
Marcus said how much more he will donate to philanthropy depends on Home Depot’s success. Marcus still holds a large number of Home Depot shares.
“Home Depot is doing well because they understand the philosophy of reinventing themselves,” Marcus said. “At one point, we had real concern that Amazon was going to put everybody out of business. I don’t feel that is true today…They are not going to run away with our business.”
Related Articles
• Fmr. Notre Dame Coach Lou Holtz Predictions for Trump vs. Media
• Trump May Have Dropped Another Clinton Bombshell
• Fmr. Notre Dame Coach Lou Holtz: College Teams That May 'Shock' this Fall
|
JP Morgan’s 2H19 Outlook: 3 Stocks to Add, and 1 to Avoid
JP Morgan has just released a valuable report setting out its tips for the second half of 2019. The firm takes a deep dive into an often-overlooked area of the market- the restaurant industry. Here we take a closer look at three of the stocks the firm’s John Ivankoe is recommending for 2H19, and one stock where it’s better to steer clear. Encouragingly, two of the stocks highlighted by the firm also boast a bullish Strong Buy consensus from the Street. The third still scores a cautious optimistic Moderate Buy rating. That’s based on all the ratings received by each stock over the last three months. Let’s see how the following top stock ideas stack up now: Stocks to Buy: Domino's Pizza, Inc. ( DPZ ) First on the ‘buy’ list comes one of the world’s largest pizza sellers- Domino’s Pizza. But DPZ does much more than just sell pizza. JP Morgan describes DPZ as a technology company disguised as a marketing company disguised as a pizza company. The firm first upgraded Domino’s back in March with a $290 price target. That’s actually on the low-end vs the Street’s average price target of $313. “We continue to remain constructive on shares of DPZ following our March 19 th upgrade. We believe DPZ trends are easing down to the lower-end of its stated 8- 12% system-wide sales growth, but for such results to still leave them near/at the top of franchise-driven growth within global QSR [quick service restaurants]” explains the firm. In short, its Domino’s low-cost delivery model that keeps DPZ ahead of the game, says Ivankoe. That’s down to 4 key reasons, namely: 1) total pre-tip fees to the consumer are only $3-4 2) the 5,903 US store network allows excellent service times, 3) franchisees pay only $0.25 to receive a digital order (much cheaper than competitors), and 4) the popular 2-for-$5.99 each delivery promotion. Meanwhile superior customer insights, data-driven decision making, and system sales growth of 8-12% justify a premium multiple over peers, the analyst tells investors. Overall we can see how the stock scores 10 recent buy ratings from analysts vs just 1 hold rating: Story continues Stocks to Buy: Mcdonald's Corp ( MCD ) From one food giant to the next, McDonald’s is another key stock that the firm recommends buying/ adding to now. Plus McDonald’s makes it to the firm’s elite Analyst Focus List of stocks set to outperform. “We continue to be constructive on MCD shares and given the strong top line momentum, feel comfortable owning into 2Q results” cheers Ivankoe. “F19 lapping the difficult F18 in US, developed market strength should continue. Not too expensive” he added. Interestingly the analyst highlights delivery as a source of future upside for the stock. Right now delivery is available in over 9,000 stores (20,000 globally), but looking ahead it should become a more meaningful contributor. App integration is set for 3Q19 and national advertising around delivery is coming online in 2H19. “We continue to recommend MCD as a long-term core holding in the restaurant space for relatively low risk/solid absolute return” concludes Ivankoe. “We focus investors on the company’s FCF generation and long-term FCF potential matched with low sensitivities to comps and margins (both company-owned and franchise) and the company’s move to a lower-risk business model via refranchising.” As with Domino's, MCD boasts a Strong Buy Street consensus with 15 analysts making bullish calls on the stock, and 5 analysts staying on the sidelines: Stocks to Buy: US Foods Holding Corp ( USFD ) US Foods is a leading foodservice distributor, with over 250,000 customers, including restaurants, regional chains and healthcare groups. Ivankoe sees USFD as well positioned to manage competition from Restaurant Depot and Amazon ( AMZN ), while noting that “Business transformation efforts focused on efficiency and effectiveness remain a major opportunity.” And according to JP Morgan this is by far the better choice over rival distributor Sysco Corporation ( SYY ). “We prefer USFD over SYY: USFD trades at a meaningful discount to SYY despite better volume trends and a more favorable 2019 margin setup” is how Ivankoe sums up the situation. He has a $40 price target on USFD. In fact, the analyst reveals that SYY recently pointed to weak industry volume trends, however, in a follow up call with USFD they noted no change in industry dynamics. “Distinctive merchandising approach and customer-facing technology allow for differentiation in what can be seen as a commoditized offering” states the analyst. Plus the company is gearing up to close its massive $1.8 billion acquisition of SGA Food Group. USFD is aiming for $55m of runrate synergies by the end of 2022. “This acquisition will significantly increase US Foods’ reach across key markets in the attractive and growing Northwest region of the U.S. and adds one of the most well-regarded regional distributors to our company,” commented US Foods CEO Pietro Satriano. Stocks to Sell: Texas Roadhouse Inc ( TXRH ) The outlook isn’t quite so rosy for steak specialist Texas Roadhouse. The company, rated Sell by JP Morgan, is on track for a tricky second half of the year according to the firm. “We expect another relatively difficult quarter at Texas Roadhouse” writes the analyst, who expects continued store margin declines (down 95bp vs. consensus down 60bp) driven by higher labor costs. He notes that TXRH trades well on top of casual dining and vs. its 10-year monthly average multiples of ~20x. Indeed, Ivankoe’s $55 price target is only very marginally above the stock’s current share price of $53.67. “We would argue that MSD positive comps are priced in at this multiple and that even maintaining store margins at or above the 17.0% level (vs 17.4% in F18) will be difficult given persistent labor inflation and rising commodity costs.” See which other stocks top analysts are recommending from different industries here
|
Red, white, and blue pizza will sweeten your July 4th
TheFourth of Julyis right around the corner (under a week away!), which means yummy finger-lickin' barbecues, family get-togethers, and of course, food, food, food.
Even better than the summertime menu is the plethora offooddesserts that seem to accompany every meal. And while sweets are definitely a staple for this holiday, so are red, white and blue creations.
Behold, the red, white, and blue pizza, which is easy to make, but even easier to eat. It's healthy, fresh, and pretty Instagrammable, too. Made with the freshest of berries and fluffy whipped cream, this easy recipe is sure to be a hit at your Fourth of July party.
See the simple recipe in the video above!
Scroll through for some more inspiration for July 4th:
|
Bitcoin has been the most volatile and best performing major cryptocurrency in June
Bitcoin has had the wildest price swings in June out of all cryptocurrencies with the market cap of above $4 billion.
Bitcoin has reached an annualized volatility of 102% in June, trailed by Litecoin (~98%) and EOS (~97%). The least volatile major cryptocurrency has been BNB with 76%, followed by XRP with 82%.
On top of being the most volatile, Bitcoin has also been the best performing major cryptocurrency in June; with a 30% increase. The worst performing major cryptocurrency was TRON with an 11% price decrease in June.
|
Charlie Munger Sees Trouble Ahead for US Stocks
Warren Buffett's long-time partner sees opportunities in China as US growth slows
|
Ocasio-Cortez: Ivanka Trump is not a 'qualified diplomat'
Rep. Alexandria Ocasio-Cortez , D-N.Y., sharply criticized the White House on Saturday night after a video emerged of an awkward Ivanka Trump moment at the G-20 summit. "It may be shocking to some, but being someones daughter actually isnt a career qualification," Ocasio-Cortez wrote, saying the situation hurt the U.S. diplomatic standing in the world. Rep. Alexandria Ocasio-Cortez at a hearing on Capitol Hill. (Photo: Alex Wong/Getty Images) "The US needs our President working the G20," she added. "Bringing a qualified diplomat couldnt hurt either." It may be shocking to some, but being someones daughter actually isnt a career qualification. It hurts our diplomatic standing when the President phones it in & the world moves on. The US needs our President working the G20. Bringing a qualified diplomat couldnt hurt either. https://t.co/KCZMXJ8FD9 Alexandria Ocasio-Cortez (@AOC) June 30, 2019 Ocasio-Cortez was reacting to the viral video, posted by BBC journalist Parham Ghobadi, which he described as Ivanka Trump, a senior adviser to President Trump, trying to get involved in a conversation with several world leaders: French President Emmanuel Macron, U.K. Prime Minister Theresa May, Canadian Prime Minister Justin Trudeau and International Monetary Fund Chairwoman Christine Lagarde. The encounter drew widespread mockery online. President Trump also attended the G-20 summit in Osaka, Japan, before heading to South Korea. He then met and held a photo op with North Korean leader Kim Jong Un at the demilitarized zone. Ocasio-Cortez, a rising star and freshman lawmaker, has generated endless headlines with tweets calling out both her critics and the Trump administration. She has previously called out the first daughter and real estate heiress for criticizing the idea of a guaranteed job . As a person who actually worked for tips & hourly wages in my life, instead of having to learn about it 2nd-hand, I can tell you that most people want to be paid enough to live. A living wage isnt a gift, its a right. Workers are often paid far less than the value they create. https://t.co/P5FsQuhCTW Alexandria Ocasio-Cortez (@AOC) February 26, 2019 _____ Read more from Yahoo News: Former top U.S. diplomat deplores policy toward Iran 'untethered to any coherent strategy' Pentagon secretly struck back against Iranian cyberspies targeting U.S. ships Trump admits his Cabinet had 'some clinkers' For Dems, there's no chickening out at Clyburn's fish fry Chore wars: Are men doing enough housework? PHOTOS: Moon rock samples sealed since Apollo missions
|
A Trump Consultant's Fake Biden Campaign Site Has More Visitors Than the Real Thing
At a glance, JoeBiden.info looks like a generic political candidate website: professional, but not exactly eye-catching. There are high resolution photos of Joe Biden, former vice president and current presidential candidate, with his arms presidentially crossed, clips of him giving interviews, and quotes superimposed over close-ups of his face. Then you get to the first blurb: Uncle Joe is back and ready to take a hands-on approach to Americas problems! Joe Biden has a good feel for the American people and knows exactly what they really want deep down. Hes happy to open up and reveal himself to voters and will give a pounding to anybody who gets in his way! Much further down, under videos of Biden invading women's personal space and a list of the candidate's real policy history (mass incarceration, harsher drug sentencing, the war in Iraq), the site identifies itself as a parody, made "BY AN American citizen FOR American citizens." And, according to the New York Times : There is indeed an American behind the website that much is unambiguously true. But he is very much a political player, and a Republican one at that. His name is Patrick Mauldin, and he makes videos and other digital content for President Trumps re-election campaign. Together with his brother Ryan, Mr. Mauldin also runs Vici Media Group, a Republican political consulting firm in Austin whose website opens with the line We Kick followed by the image of a donkey the Democratic Party symbol often known by another, three-letter, name. Mauldin told the Times that he made the site to help Democrats "face facts" about Biden, who's currently the frontrunner in the presidential primary. He left his name off the site, he said, because "people tend to dismiss things that they dont like, especially if it comes from the opposite side." The Times points out that this is less like traditional political messaging than it is deliberate misinformation, and something that both election and national security experts warn will become much more common leading up to the 2020 election : "Trolling, that is, as political strategy." And it appears to have been successful, at least temporarily. From mid-March through the end of May, Mauldin's "parody" site had 390,000 unique visitors. Biden's actual campaign site had 310,000. Originally Appeared on GQ
|
Toast America this July 4th, but run your 401(k) globally
Thursday is America’s 243rd birthday. Patriotism will likely be flowing over. Great, but don’t let patriotism rule your 401(k). You’ll miss a world of opportunity.
Don’t get me wrong – America’s markets are worth toasting at your BBQ. We have the world’s biggest, best, deepest and most liquid markets. Strong property rights, an innovation culture and good old-fashioned capitalism have improved quality of life immeasurably and created immense investment opportunities. Any young person can rationally dream of being the next Sara Blakely or Sergey Brin.
Yet there is a bigger world outside the Land of Opportunity. The U.S. is just 24% of the global economy and 63% of the developed world’s stock market. The other 37% irregularly does better, beating America in 24 of 49 years since 1969.
While all broad, well-constructed indexes usually end up with about the same total returns eventually, they often leapfrog each other for years at a crack. Overseas stocks beat America’s in the 2000s bull market and much of the 1980s. We’ve led in this bull market. Within bull markets, leadership frequently flip-flops, and within this U.S.-led bull market, foreign stocks led in three years (2009, 2012 and 2017).
If you shun Europe, Asia and the rest of the Americas, you miss opportunities to diversify risks.
Do you like tech but fret future regulation of big U.S. tech giants? Target tech names from Japan, Germany, Taiwan or even China. Fed up with mall-based American retailers? Check out French luxury instead and benefit from the spending of China’s brand-name-mad ascendant rich. The world is your oyster.
Global investing helps manage political risks, too.On April 7, I explained U.S. stocks’ consistent and above-average positive returns in any president’s third year, but with slower gains as the year ages and election-year campaigning poisons sentiment. Your antidote? European stocks, which are entering an unseen political sweet spot after May’s European Parliament (EP) elections.
While rising uncertainty may slow U.S. stocks, European markets are set to benefit from falling uncertainty. Before the contest, everyone dreaded anti-EU populists gaining power. Pundits warned of radicals taking Brussels by storm and sending the bloc into chaos. Few foresaw how populists’ rise across Europe merely pancaked national governments ideologically into gridlock. Populists, both far right and far left, stole support from the traditional center-left and center-right, making coalitions weak and fragile. The most fierce, like Italy’s, now mostly fight internally and legislate almost nothing – gridlocked.
July Fourth food:How many hot dogs and hamburgers are consumed in your state?
Rethink your retirement:Here's the secret for living longer and loving retirement
May’s European Parliament election surprised everyone with more of that. The two traditionally dominant centrist parties won 44% of seats combined, their lowest ever, while far left and far right fringe parties, some newly created – won the rest. While fear of that remains, holding stocks down, the eventual government will be some multiparty hodgepodge agreeing on little and doing even less – bullish gridlock, keeping legislative risk low and defying populist dread. All bullish.
European stocks have one similar political pattern to ours. Like American, EP elections occur regularly – every five years since 1979. In the six months before the prior eight elections, European stocks averaged 2.3% returns, trailing America’s 4.0%. In the six months after the vote, this flips: Europe averaged 10.5%. America averaged 8.5%. In the next 12 months European stocks are positive routinely. The risk-to-reward tradeoff is good.
Investors typically favor their home country. You should. So celebrate the 4th. Enjoy the fireworks. But spread your 401(k) globally – like some to Europe now.
This article originally appeared on USA TODAY:Toast America this July 4th, but run your 401(k) globally
|
White House Press Secretary Stephanie Grisham Brawls With North Korean Guards
Click here to read the full article. New White House press secretary Stephanie Grisham today showed she will fight for freedom of the press, getting into a brawl with North Korean security guards. Throwing the publicist’s adage that you should not become the story to the winds, Grisham dove into action after North Korean guards attempted to bar the White House press pool representatives from entering the room at the Freedom House at the DMZ where President Donald Trump was meeting with North Korean Chairman Kim Jong-un, according to The Guardian . White House and foreign correspondents tweeted about the incident as well. Related stories Melania Trump's Communications Director Stephanie Grisham Named New White House Press Secretary Melania Trump Spokesperson To CNN: "Reports Focus On The Trivial And Superficial" 'Divorce' To End With Season 3 On HBO As Sarah Jessica Parker Ramps Up Development At Pretty Matches Prods. “New WH Press Secretary Stephanie Grisham got into a scuffle with the North Koreans to move members of the WH press pool into position to cover Trump and Kim, I’m told,” CNN’s Jim Acosta tweeted. “Grisham was a bit bruised. Source called it ‘an all out brawl.'” Jennifer Jacobs of Bloomberg had a picture to share of the scuffle, saying there were “body blows” in the fight. Grisham apparently prevailed, as she opened a path for US reporters. Score: Grisham 1, North Korean guards 0. President Trump's press secretary Stephanie Grisham ended up with bruises after being shoved by Kim Jong Un's security guards. Donald Trump has become the first serving US president to cross into North Korea: https://t.co/mwEKbrimXv pic.twitter.com/EJNWwPV3jP — Sky News (@SkyNews) June 30, 2019 s Sign up for Deadline's Newsletter . For the latest news, follow us on Facebook , Twitter , and Instagram .
|
Employees speak up at Wayfair, Google. Have millennials killed being afraid of the boss?
Not happy with the leadership at your company?
You may not have to keep your mouth shut anymore. Gone are the days when speaking up got you automatically fired.
Employees, especially millennials, feel increasingly emboldened to publicly criticize their employers, organize protests and pursue change at the top on issues such as gender equality and immigration.
Among the latest examples: home goods seller Wayfair and technology companies Google and Amazon.
Wayfair, the online furniture seller, came under fire this week from its employees for selling goods to a contractor that supplied a migrant detention center.
Hundreds of Wayfair workers protested the company's actions Wednesdayin Boston's Copley Square after CEO Niraj Shah dismissed calls to refuse to do business with contractors of border detention camps along the U.S.-Mexico border.
“We don’t want our company to profit off of children being in concentration camps,” said Madeline Howard, 29, a project manager at Wayfair, during the rally. "We want them to have a code of ethics that blocks orders like this from happening again."
Like the Wayfair employees, 38% of American employees say they've "spoken up to support or criticize" their employer's "actions over a controversial issue that affects society," according to astudy on employee activism released in Mayby communications and marketing firm Weber Shandwick.
Millennials are particularly bold, with 48% saying they've spoken up, compared with 33% of Generation X and 27% of baby boomers.
"Being an employee is actually a great gift to change the industry for which you work. If you want to invoke change, the best way to do so is to go into the industry where you want to see the change and fight for it."
"Employees, and particularly millennials, are very tied to the values of the organization and have expectations about their companies – and when they're frustrated, if their values are being violated, they speak up," said Leslie Gaines-Ross, chief reputation strategist of Weber Shandwick.
Who are best CEOs for minority workers?:Heads of Intuit, T-Mobile, Google rank high
Executives are noticing as employees agitate for change.
At Amazon, some 8,000 employees concerned about climate change have signed ontoAmazon Employees for Climate Justice. The worker group won the support of two independent shareholder advisory services for a proposal pressing Amazon to account for its emissions and has continued to advocate for action since the company and investors rejected the resolution in May.
Rebecca Sheppard, a senior product manager at Amazon who is active in Amazon Employees for Climate Justice, said "Amazon's paying attention" – based on the company's recent actions, including an announcement involving plans to cut emissions from 50% of packages.
"Being an employee is actually a great gift to change the industry for which you work," Sheppard said. "If you want to invoke change, the best way to do so is to go into the industry where you want to see the change and fight for it."
Dig deep into your wallet:Video game systems could cost shoppers $840M more this holiday season, console makers say
University of Michigan business professor Erik Gordon, who has taught management and marketing classes, said the shift is forcing executives to reconsider their approach to corporate activism.
In some cases, it's prompting companies and CEOs to make public statements about political issues before their workers demand action.
"Top management of most companies is at least two generations away from the younger workers," Gordon said. "Companies that have a larger proportion of younger workers are trying to get on offense and not play defense."
Following the Wayfair uproar, Bank of America announced this week that it would cease financing for operators of detention centers and private prisons. Bank of America said in a statement that it had been considering the move "for some time." JPMorgan Chase and Wells Fargo reportedly made similar announcements earlier this year.
For corporations, it's not always altruistic. There's a practical reason to speak up and take action on certain issues: They want to maintain the perception that they're a good place to work.
"Rather than sacrificing your morality or your beliefs, you can encourage the company you work for to address them in a way that keeps you satisfied with your employer, and companies that don’t do that have a real with retention," Sheppard said.
That doesn't mean employees who speak up are altogether immune to retribution.
A group of Google employees,who signed a petitionposted to the blogging platform Medium urging San Francisco Pride to revoke Google's sponsorship of the group's June 30 parade, acknowledged that they could face punishment.
"We have considered the possibility that our employer will punish us for signing this letter, or that supporters of these very hatemongers will attack us personally, online or otherwise, simply for speaking out against them," the workers wrote. "Despite these risks, we are compelled to speak."
But with social media's amplification effect, workers who face retaliation have a viable outlet to fire back, unlike during the pre-internet age, when it would be virtually impossible to get attention without filing a lawsuit or getting traditional media coverage.
"With social media, certainly it can take on an incredible velocity, spreading the word," said Weber Shandwick's Gaines-Ross.
Yet it's personal interactions that ultimately drive change, said Amazon's Sheppard.
"Social media can help spread awareness, but really the catalysts for change are one-on-one connections," she said.
Expect more, said Michigan's Gordon.
"I think we’re going to see more and more of these" movements, the business school professor said. "We have in the workplace people who were my students last year or five years ago – they are genuinely concerned about a lot of social issues and they think companies have social responsibilities that prior generations thought were not the business of businesses."
Contributing: Joey Garrison
Follow USA TODAY reporter Nathan Bomey on Twitter @NathanBomey.
This article originally appeared on USA TODAY:Employees speak up at Wayfair, Google. Have millennials killed being afraid of the boss?
|
Illinois Officially Makes Marijuana History, and These States May Be Next
The legal cannabis industry is budding before our eyes, and the United States is its crown jewel. Although cannabis remains an illicit substance at the federal level, it hasn't stopped 33 states from legalizing medical marijuana in some capacity.
According to a newly released report, "State of the Legal Cannabis Markets," from Arcview Market Research and BDS Analytics, global licensed-store weed salescould nearly quadruple between 2018 and 2024to $40.6 billion. But total cannabinoid market sales -- this includes pharmaceutical cannabinoid sales and the sale of cannabidiol (CBD)-based products in general retail stores -- may hit nearly $45 billion in the U.S. alone by 2024, making it the "greenest" market in the world.
This past week, one of the most important states in the blossoming U.S. weed market made expected, yet long-awaited, history.
Image source: Getty Images.
On May 31, the Illinois Legislature passed HB 1438, a bill designed to legalize recreational marijuana, as well as expunge the criminal records of nearly 800,000 residents in the state who possessed or purchased up to 30 grams of cannabis (without violence). As is the case with previous cannabis bills, HB 1438 imposes excise taxes on recreational weed sold: 10% for products containing less than 35% tetrahydrocannabinol (THC), and 25% for products with higher concentrations of THC. (THC is the psychoactive cannabinoid that gets users high.)
The big question had been: When would Gov. J.B. Pritzker (D-Ill.) sign the bill? Pritzker had stated support for the legislation, and his intent to sign it, but multiple weeks had gone by with the bill collecting dust on his desk. On Tuesday, June 25, Pritzker finally made good on his word and signed HB 1438 into law, making Illinois the11th state to have legalized recreational cannabis use, and the 10th to allow for retail distribution.
Illinois also made history in the process, becoming the second state legislature (along with Vermont) to approve recreational weed use, but the first to also legalize recreational distribution. Vermont doesn't allow cannabis to be sold in retail stores, and the other nine states have legalized marijuana through the statewide ballot process.
Legal pot sales are slated to begin on Jan. 1, 2020, with Arcview and BDS Analytics projecting $1.14 billion in statewide sales by 2024.
Image source: Getty Images.
Of course, Illinois isn't alone in the legalization department. Quite a few other states are seriously discussing recreational pot legalization, though most won't have a real shot at expansion until 2020.
For those who might recall, I'd noted previously thatOhio had a legalization initiativethat had been sent to state regulators for review, with the hope of having it placed on the 2019 ballot for November. That effort has fallen through, meaning there aren't any major marijuana ballot initiatives or amendments expected this coming November. That's why most cannabis legalization support groups have been shifting their focus to the 2020 elections.
There are a few adult-use initiatives pending ballot review in 2020 that I don't believe stand a chance. For instance, both Mississippi and Nebraska, two states that are historically run by Republicans, have legalization initiatives under review. However, the GOP usually has a much more negative view on cannabis when compared to Democrats or Independents. That makes legalizing recreational marijuana in these states a long shot.
Five statesfar more likely to put recreational weed initiatives or amendments to vote in 2020, or simply pass legislation to allow recreational marijuana to be sold, are (in no particular order): New Jersey, New York, Arizona, Florida, and Maryland.
Even though New York and New Jersey have been actively discussing recreational legalization measures in their respective legislatures, my money would be on Arizona to be the likeliest to legalize in 2020. The Grand Canyon State has two factors working in its favor. First, cannabis legalization groups have planned to focus their efforts on Arizona, among a select few states, in 2020. And second, Arizonanarrowly lost its bid to legalize recreational weedin 2016 by roughly 2 percentage points. Historically, the second time a state votes on a recreational pot initiative after the initial proposal failed, it passes. It happened in California and Oregon, and my suspicion is Arizona will be added to that list in 2020.
I'd also look for cannabis groups to really ramp up their efforts to push legalization amendments in Florida. The Sunshine State could easily become a top-three revenue-producing state by 2024, with close to $1.9 billion in annual sales.
Image source: Getty Images.
All told, there could bemore than a dozen statesthat surpass $1 billion in annual sales by 2024 as adult-use legalizations pick up, which is a big reason why we've seen so much dealmaking -- and such high premiums -- in the vertically integrated dispensary space.
For instance, the largest all-U.S. deal in history (about $950 million) was announced at the beginning of May betweenCuraleaf Holdings(NASDAQOTH: CURLF)and privately held Cura Partners, which owns the Select brand. Select products are currently sold by more than 900 retailers nationwide. Curaleaf currentlyhas more operational retail stores(45) right now than any other multistate operator, and it's looking to expand its presence in 12 states, including Florida, which is where roughly half of its stores are located. The addition of Select, while pricey, further helps establish Curaleaf's brand presence in these burgeoning markets.
Then there'sCresco Labs(NASDAQOTH: CRLBF), which is in the process of acquiringOrigin House(NASDAQOTH: ORHOF)for$823 million in an all-stock deal. The sizable premium being paid for Origin House will allow Cresco Labs to get its in-house-branded products into more than 500 California dispensaries, as well as any other markets where Origin House lands cannabis distribution licenses.
Cresco Labs also stands to benefit from the legalization of recreational marijuana in Illinois, where it has five dispensaries, but expects to increase this number to the state maximum of 10 by the time recreational pot sales kick off on Jan. 1, 2020.
In short, there's plenty of opportunity for recreational cannabis growth in the U.S., and pot stock investors should look for continued consolidation activity ahead of what could be a very active 2020 on the legalization front.
More From The Motley Fool
• Beginner's Guide to Investing in Marijuana Stocks
• Marijuana Stocks Are Overhyped: 10 Better Buys for You Now
• Your 2019 Guide to Investing in Marijuana Stocks
Sean Williamshas no position in any of the stocks mentioned. The Motley Fool recommends Origin House. The Motley Fool has adisclosure policy.
|
Zoe Kravitzs Wedding Had the Entire Big Little Lies Cast as Guests
Photo credit: Marc Piasecki - Getty Images From ELLE Joe Jonas and Sophie Turner werent the only ones with a lavish French wedding on Saturday. Zoe Kravitz married her fiancé Karl Glusman in Paris on Saturday and the event also served as a reunion for the cast of Big Little Lies. Laura Dern, Nicole Kidman, Reese Witherspoon, and Shailene Woodley were all in attendance for Kravitzs big day, which took place at her father Lenny Kravitzs Parisian home. Sadly, there was no sign of Meryl Streep, but the rest of the guest list was still impressive. Denzel Washington, Eddie Redmayne, Donald Glover, Chris Pine, Cara Delevingne, and Ashley Benson all watched Kravitz say I Do. On Friday, Kravitz had her rehearsal dinner at the Lapérouse restaurant, where she wore custom Danielle Frankel bike shorts, a bra top, and mesh dress. Of course, her famous parents, Lenny Kravitz and Lisa Bonet, were also present for the multi-day celebration. It was a tremendously joyous party, restaurant co-owner, Grégory Lentz, told People . Any room with Lenny and Jason [Momoa] and Denzel in it, well . . . was crazy and insane. There was so much love in the room. There were toasts and they were moving into tequila when I left. They were still going at 2 a.m. Paris is a special place for the couple, and where Glusman had originally planned to propose. Due to the couples busy schedules, however, the proposal ended up being a much more low-key affair. I was in sweatpants, Kravitz told Rolling Stone in October.. 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 wasnt this elaborate plan in Paris. It was at home, in sweatpants. ('You Might Also Like',) 10 Pairs of White Sneakers That Go With Everything 50 Surprising Things You Never Knew About 'Sex and the City' 20 Serums to Solve All Your Skincare Problems
|
Your 5-Point Midyear Financial Checkup
With summer kicking into gear, many of us are more focused on beach days and vacations than we are on our finances. But now that we're midway through 2019, it's essential to carve out a little time for a personal financial review. Here are a few things you should do in the coming weeks to ensure that you're able to close out 2019 in a financially secure place.
Ideally, you should be following a budget to keep track of your ongoing spending. If you don't have a budget in place, consider this your wake-up call tocreate oneimmediately. And if you have been using a budget, spend a few minutes evaluating it to see if it's really accurate. For example, you may have initially allocated $1,200 a month to rent, but if your lease expired and you're now paying $1,250 a month, that's something you'll want to adjust.
IMAGE SOURCE: GETTY IMAGES.
Saving money gets so much easier when thetemptation to spend itis removed. That's why automating your savings is such a great idea -- it effectively forces you to stick to the goals you've mapped out for yourself.
There are several ways you can automate your savings, depending on your needs. If you're looking to build an emergency fund with three months' worth of living expenses, you can arrange for a portion of each paycheck you receive to move from your checking account to your savings account until that goal is met. If you're good on emergency savings but want to keep building a nest egg, you can sign up for your employer's 401(k) plan and have a portion of each paycheck land there directly. And if you don't have access to a 401(k), you can find an IRA with an automatic transfer option and do something similar.
Whether you're investing in a retirement plan or a traditional brokerage account, it's important to check up on your portfolio every so often and make sure that it's not only performing well, but that it's appropriatelydiversified. If, for example, you're not pleased with the returns you've generated over the past six months, you can shift some investments around to change things up. That could mean investing a bit more aggressively by replacing some bonds with stocks, or it could mean buying different stocks if the ones you have are too similar or aren't doing well.
The 2018 tax overhaul brought a lot of changes to the tax code, including a brand-new set of withholding tables for employers to follow. Those tables were designed to put more money back in workers' paychecks, but, unfortunately, many tax filers wound up owing money on their 2018 returns because they failed to adjust their withholding and actually received too much of a boost.
If that happened to you,review your withholdingand make changes as necessary. You should consider claiming fewer allowances for the remainder of the year if you owed a lot of money when you filed your most recent tax return, or if you earn a lot of income outside of your regular paycheck (such as income from investments or a side hustle).
Chances are, you established one or more money-related goals at the start of the year. Maybe you wanted to save $3,000 for a dreamvacationnext winter. Maybe you were hoping to sock away $15,000 as a down payment for your first home. Now that we're at the midpoint of the year, take a look at how far you've come in reaching those goals, and adjust your plans as necessary to increase your chances of meeting them. For example, if you've only saved $4,000 of the $15,000 you were hoping to bank for a home purchase, you may need to think about cutting back on spending or getting a side job in the coming months to hit that target.
The middle of the year is a great time to examine your finances and make sure everything is on track. Spend some time in the next few weeks working through the points above -- you'll be thankful you did come December.
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
The Motley Fool has adisclosure policy.
|
5 Things Investors Need to Know About the U.S. Navy's New Frigate
Just over one year ago, the U.S. Navy dipped its toe in the water with regards to developing a new ship: It awarded five leadingdefense contractors$15 million each to draw up plans to design aGuided Missile Frigateto be known as "FFG(X)."
Less than one month ago, one of those five --Lockheed Martin--dropped out of the competition, saying it would rather build the combat system that would operate the warship than the ship itself. This leaves four contenders:
• General Dynamics(NYSE: GD), once the prime contractor building Independence-class Littoral Combat Ships.
• Austal USA(NASDAQOTH: AUTLY), thecurrentprime contractor on the LCS.
• Huntington Ingalls Industries(NYSE: HII), prime contractor on the U.S. Coast Guard's National Security Cutter (NSC).
• Italy's Fincantieri Marinette Marine Corp.
One of these companies now stands to win at least $16 billion in Navy contracts to build 20 (or more) frigates at a cost of $800 million (or more) each. And the competition is heating up.
The FREMM frigate by Italy's Fincantieri is one leading contender to become America's next U.S. Navy frigate. Image source:Fincantieri.
Last week, the Navy issued its final Request For Proposals (RFP) to the remaining candidates. Each will now submit a bid to build the new frigate -- and unlike the Navy's current littoral combat ships, this frigate is going to be a beast.
The littoral combat ships that General Dynamics, Austal, Huntington, and Lockheed Martin have been building for the Navy, you see, have been criticized for lacking "teeth" -- specifically, offensive weaponry that would make them more than glorified Coast Guard cutters. FFG(X) by contrast, will come armedto the teeth.
According to the RFP, the new frigate must sport five key elements that will permit it to punch above its weight at sea:
• At least 32 Mark 41 vertical launch system cells to fire surface-to-air missiles for aerial defense.
• Anywhere from eight to 16 over-the-horizon anti-ship cruise missiles for naval offense.
• Lockheed's state-of-the-art, AEGIS-derived, COMBATSS-21 Combat Management System (see above) to tell the crew what to shoot those missiles at.
• Space aboard to carry both an MH-60R Sikorsky Seahawk naval helicopter, and also a Northrop-built MQ-8C Fire Scout drone helicopter.
• Room to install a 150-kilowatt laser.
That's right:This boat is going to have laser guns-- or at least the capability to support them as the Navy steps up the power ofthe laser cannons it's working on.
That last point could actually be the key item for investors to consider -- and not just because lasers sound cool. AsUSNI Newsreports, integral to the Navy's RFP is the idea that FFG(X) should have "flexibility in the design to accommodate efficient warfare systems upgrades" as technology advances over time.
For example, right now, about the biggest laser cannon the Pentagon has available to it is a 100-kilowatt High Energy Laserbeing developed by Lockheedand privately held defense contractor Dynetics. But 150-kW lasers are on the drawing board, en route to weapons boasting500 kilowattsor evena full megawattof throughput. (To put that in context, while a 100-kW laser can fry a drone, or given enough time on target, perhaps a guided missile, a 500-kW laser could shoot down ICBMs and airplanes as well). Knowing these weapons are on the horizon, the Navy is asking its contractors to design to that expectation, so that when the weapons are ready, FFG(X) will be able to support them.
Why is this significant to investors?
Consider: At an expected purchase price of perhaps $800 million per hull (exclusive of equipment costs), the company chosen to build FFG(X) already stands to reap revenues of $16 billion or more just from building the 20 frigates the Navy currently plans to order -- and that's just the up-front cost. If FFG(X) is being designed for evolution over time, it's less likely the frigate will be phased out for obsolescence in the future, andmorelikely it will be upgraded.
This is likely to mean additional contracts for whichever company is tapped to build this frigate in the first place, as it would be the logical choice (though not necessarily the automatic choice) to upgrade those vessels.
Final bids are due for the FFG(X) competition on Sept. 26, and by sometime next year, we should know the winner.
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
Rich Smithhas 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.
|
Thinking of Buying Chesapeake Energy Stock? Here's What You Need to Know
Shares ofChesapeake Energy(NYSE: CHK)have bounced around quite a bit over the past year. The oil and gas stock was up about 35% at one point last year before itcrashed with oil prices, finishing down 47%. Chesapeake has experienced similar volatility this year. Sharesrocketed more than 50%, before giving back those gains, and then some, aftercrude entered its second bear market in a year.
Volatility, however, is only part of the story at Chesapeake Energy. Here are three other important things investors need to know if they're thinking about buying its stock.
Image source: Getty Images.
Chesapeake Energy was once one of the largest natural gas producers in the country. However, it has slipped from the second-largest gas producer in 2015 down to the sixth largest as of this year's first quarter. That slide down the leaderboard is the result of asset sales and a shift toward drilling oil wells.
The company made its biggest pivot away from natural gas last year when itsold its position in the Utica shaleand then made thesurprising acquisitionof oil-focused WildHorse Resource Development. That deal will accelerate the company's shift toward oil. Chesapeake anticipates that its oil production will grow by 32% this year. As a result, crude will rise from 19% of its total output last year up to 30% by 2020. Overall, the company expects to allocate 80% of its annual capital spending on drilling oil wells. Thus, Chesapeake is becoming an oil growth stock, which is quite different from the gas-fueled growth it had delivered in the past.
One thing that hasn't changed about Chesapeake Energy is its aggressive approach toward investing in expanding its output. The company has routinely outspent its cash flow on drilling new wells, which continues to be the case.
However, the company has narrowed its outspending considerably over the years and expects only a small gap this year. Its goal is to eventually generate free cash flow, which will give it more funds to pay down debt.
While Chesapeake Energy aims to produce positive free cash flow in the future, most of its peers are already generating boatloads of excess cash that they're sending back to shareholders viarising dividendsand meaningful share-repurchase programs. Since Chesapeake isn't yet producing excess cash and still has a weak balance sheet, it will likely be quite some time before the company starts returning money to shareholders.
Chesapeake Energy's years of aggressive growth have weighed on the company's balance sheet since it had to take on lots of debt to fund its expansion. The company ended the last quarter with about $10 billion of debt on its balance sheet. Because of that, it has an elevated leverage ratio of 4 times debt toEBITDA.
The company set a target to get that ratio down to 2 in the coming years. Its oil-focused growth plan should push that metric to 3.6 times this year and 2.8 times by the end of 2020. While that would be a notable improvement, it's still a long way from Chesapeake's target level and even farther from the comfort zone of most peers, which are aiming for leverage ratios in the 1 to 1.5 range.
Investors who are considering Chesapeake Energy's stock need to know that it's not the same company it once was. The driller is pivoting away from gas toward oil, which should boost its margins. That oil-fueled growth should expand the company's cash flow and earnings, thus improving its financial profile. In the meantime, however, the company is still a risky bet since it's well behind its peers. Shares could remain excruciatingly volatile, which is why investors should think twice before buying this oil 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
Matthew DiLallohas 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.
|
Pfizer's About to Enter a Sales Slump -- Here's Why You Should Like the Stock Anyway
Some investing decisions seem like no-brainers. If you know that a company's sales growth is about to evaporate, staying away from the stock makes a lot of sense, right? No one wants to be stuck with a loser.
But some of these decisions aren't as clear-cut as you might think.Pfizer(NYSE: PFE)is at the cusp of entering a sales slump. Everyone knows it. However, I think that Pfizer is a solid pick to buy despite -- and perhaps evenbecause of-- its imminent revenue decline.
Image source: Getty Images.
The reason why Pfizer is about to experience a sales slump is simple: The company's blockbuster nerve pain drug Lyrica is losing its patent exclusivity. Pfizer managed to delay the inevitable for as long as it could, but the core underlying patent for the drug expires at the end of June.
How significant will the impact be? Pretty big. Lyrica generated nearly $1.2 billion in revenue in the first quarter of 2019 and more than $3.8 billion last year. Those sales won't evaporate instantly, but Pfizer warned in April that it expects "to enter a period of significantly reduced revenue."
You might think that perhaps Pfizer's other products could offset the sales decline for Lyrica. Nope. Pfizer's total revenue in Q1 increased by only $212 million year over year despite strong growth for anticoagulant Eliquis and breast cancer drug Ibrance. What about the big pharma's acquisition ofArray BioPharma(NASDAQ: ARRY)? Itwon't provide any substantial financial benefit anytime soon.
It's pretty much guaranteed that the company is about to flip from sales growth to sales declines. Wall Street analysts estimate that Pfizer's revenue will fall by around $290 million in the third quarter compared to projections for Q2.
With this bad news on the way, it's not surprising that Pfizer's share price has slipped a little year to date while the broader market indexes have soared. Investors know that the company will soon feel the sting from Lyrica's loss of patent exclusivity. Pfizer's stock price reflects it.
When investors look to the future, they sometimes have a limited vision. Yes, Pfizer will no doubt hit a rough patch in the second half of this year and into 2020. But beyond 2020, the outlook for the drugmaker improves considerably.
Pfizer CEO Albert Bourlastated in the company's Q1 conference callthat the Upjohn segment, which is home to Pfizer's drugs that have lost patent exclusivity or will do so soon, should generate stable low-single-digit top-line growth after 2020 when the impact of Lyrica's patent expiration has been absorbed.
This projection seems achievable, in my opinion. Upjohn's potential in emerging markets, especially in China, should help the segment become a modest revenue growth driver for Pfizer and an even greater contributor to the company's profitability.
Pfizer's biopharmaceuticals segment should deliver much stronger growth in the next decade. I think that Ibrance will enjoy a second wave of momentum in the adjuvant setting for breast cancer. I don't see any significant bumps in the road for Eliquis. And whileMerckhopes to launch a rival to pneumococcal vaccine Prevnar 13, Pfizer's patent portfolio is strong and should allow it to hold onto market share until it launches its own successor to the blockbuster vaccine.
In May, the FDA approved Vyndaquel and Vyndamax for treating the rare genetic disease transthyretin amyloid cardiomyopathy. The two drugs should combine for peak annual sales of $2 billion. Pfizer also picked up another FDA approval recently for a combination of Bavencio and Inlyta in treating advanced renal cell cancer.
Pfizer's pipeline also includes more than a dozen other programs with blockbuster potential. The acquisition of Array should add two other big winners, with the biotech's Braftovi and Mektovi picking up momentum in treating melanoma andshowing promise in combination with Erbitux in treating colorectal cancer.
There's a lot of good news in store for Pfizer after the bad news resulting from Lyrica losing patent exclusivity. So why not just wait until sometime next year to think about buying the stock?
First, remember that while investors might not always look farenoughinto the future, they're always looking to the future. You can bet that Pfizer's improving prospects for beyond 2020 will be reflected in its stock price at some point in 2020. But there's no way to know for sure how far in advance investors will realize Pfizer's Lyrica-caused sales slump doesn't tarnish its overall long-term prospects.
Second, Pfizer pays you to wait. The company's dividend yield currently stands at 3.3%.
Yes, a period of malaise is about to hit Pfizer's top line. But some are focusing too heavily on Pfizer's temporary near-term troubles instead of the company's solid long-term growth prospects. And that gives investors willing to question the conventional wisdom a great opportunity to buy this big pharma 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
Keith Speightsowns shares of Pfizer. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has adisclosure policy.
|
3 Top Biotech Stocks to Add to Your Watchlist
Biotech investing isn't for the faint of heart. The odds that any particular candidate treatment will be a success are low, and commercializing a drug is hard. However, the returns can be amazing when everything goes according to plan.
We asked a team of Motley Fool contributors to share the names of some biotech stocks that they think are worth the risk. Here's why they called outAlexion Pharmaceuticals(NASDAQ: ALXN),Regeneron Pharmaceuticals(NASDAQ: REGN), andIonis Pharmaceuticals(NASDAQ: IONS).
Image source: Getty Images.
Sean Williams(Alexion Pharmaceuticals):If you're looking for a truly out-of-the-ordinary biotech stock to invest in, you should consider ultra-rare-disease drugmaker Alexion Pharmaceuticals.
For more than a decade, Soliris has been Alexion's breadwinner. Soliris is an orphan drug that's been approved to treat paroxysmal nocturnal hemoglobinuria (PNH), atypical hemolytic uremic syndrome, and most recently anti-acetylcholine receptor antibody-positive generalized myasthenia gravis. Even if you've never heard of these diseases before, the thing to know about Alexion is that there's virtually no brand-name competition waiting in the wings for these indications. The company will therefore able to maintain an exceptionally high price point on Soliris, and insurers will continue to reimburse for it. Its orphan status, along with label expansion and steady organic volume growth, has been the key to growing Soliris into a more than $3 billion a year treatment.
Now, here's the best part: Despite persistent concerns that generic-drug developers would attempt to swoop in on Soliris once its patents expired, Alexion has fixed that problem. In late December, the company received Food and Drug Administration approval for Ultomiris, which is anext-generation treatment for PNHthat is given six or seven times annually, as opposed to bi-weekly with Soliris. In other words, Alexion will slowly phase out its key drug in favor of Ultomiris in most indications, as well as look to expand its label.
As icing on the cake, Alexion's Strensiq and Kanuma continue to gain larger audiences. Strensiq, which treats perinatal/infantile, or juvenile-onset hypophosphatasia, and Kanuma, a treatment for lysosomal acid lipase deficiency, are expected to produce between $655 million and $680 million in combined 2019 sales, with longer-term sales growth potential in the high single-digit percentages annually.
With aggregate sales projected to grow by more than 50% between 2018 and 2022, and earnings possibly on track to hit $13 per share by 2022, Alexion's shares today could bean exceptional bargainin the rare-disease space.
Chuck Saletta(Regeneron Pharmaceuticals):Imagine a company trading at less than 13 times its anticipated earnings that has far more cash than debt on its balance sheet. Now, imagine that the same company is expected to be able to grow its earnings at a decent 8% annualized clip over the next five years.
Investors would normally expect a company with financials and a valuation like that to be an industrial titan or some similarly stable stalwart. In the high-flying world of biotechnology, this sort of fiscal profile is unusual, so when you find one, it's certainly worth looking at. Regeneron Pharmaceuticals is that rare biotech.
Its relative bargain share price is an artifact ofsome operational challenges the company has faced over the past few yearsthat took the bloom off its rose. Its anticipated growth rate stalled, shrinking its price-to-earnings ratio accordingly. What matters to today's investors, however, isn't where the company's stock has been, but where it's going. While nobody can predict that future with any degree of certainty, what is clear is that Regeneron's shares no longer have tremendously fast growth baked into their price.
That market pessimism provides the seed for potentially strong returns, particularly since Regeneron has a solid pipeline of candidate treatments in various clinical trial stages.. That pipeline -- with products intended to address cancer, asthma, allergies, cholesterol, and Ebola -- provides reason to believe the company can continue to drive some level of growth over time. Today's investors have a shot at a decent return even at modest growth levels.
Brian Feroldi(Ionis Pharmaceuticals):It's not possible for investors to know which drugs will be winners and losers when they are still in the development stage. That's why I tend to shy away from money-losing biotechs whose fate rests in the hands of a single candidate compound. Instead, I'd rather bet on a biotech that is creating a drug developmentplatformthat can provide it with dozens of shots on goal. This is exactly whyIonis Pharmaceuticalsis one of my favorites.
Ionis Pharmaceuticals develops new compounds using its homegrown RNA-based drug discovery platform. The company has already succeeded at bringing a handful of drugs to market, which supports the theory that its technology is the real deal. What's more, Ionis has struck numerous partnership agreements with some of the biggest biotech and pharma companies on the planet. Those deals have filled the company's coffers with cash, and enabled it to produce adjusted operating profitsin each of the last four years.
Ionis' growth is currently being driven by a spinal muscular atrophy drug called Spinraza, which is being commercialized byBiogen. Ionis earns a royalty each time the drug is sold, so it doesn't have to worry about dealing with doctors or insurers directly.
The company's pipeline also offers reason for optimism. Ionis has more than40 compounds in various stages of developmentand expects to have at least 10 of them in late-stage trials within the next few years. Four will be in pivotal trials before the end of 2019. That's a lot of potential.
In total, Ionis boasts multiple sources of revenue, is already producing profits, and has dozens of candidates that could turn into winners in the years ahead. That's a situation that should intrigue any biotech investor.
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
Brian Feroldiowns shares of Ionis Pharmaceuticals.Chuck Salettahas no position in any of the stocks mentioned.Sean Williamshas no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Biogen and Ionis Pharmaceuticals. The Motley Fool has adisclosure policy.
|
4 Super Saver Secrets to Help You Retire Earlier
In a nation struggling to save enough for retirement, super savers -- those who save more than 15% of their pre-tax income -- have taken on an almost mythic status. But they're very real and they're increasing in number. One in five millennials is a super saver, according to Fidelity, along with 27% of Gen Xers and 37% of baby boomers. With careful planning and some lifestyle changes, you can join their ranks, too. Just take the following four steps, and when you get to retirement, you'll have a comfortable nest egg to show for it. Upward facing arrow made of money Image source: Getty Images. 1. Open tax-advantaged retirement accounts if you haven't already. If your employer offers a 401(k), start here. You can contribute up to $19,000 to a 401(k) in 2019 or $25,000 if you're 50 or older. Your employer may also match some of your contributions. Any money you put in your 401(k) this year will reduce your taxable income, but then you'll have to pay taxes on your distributions in retirement, unless it's a Roth 401(k). Contributions to Roth 401(k)s don't reduce your taxable income this year, but then the money grows tax-free afterward. Keep an eye on your plan's fees because these can eat into your profits. Check your plan summary or the prospectus for your investments to find out how much you're paying. It shouldn't be more than 1% of your assets each year. That's $10,000 on a $1 million portfolio. If you're paying more than that, try talking to your employer to see if they will offer more affordable investment products, like index funds -- mutual funds that attempt to mimic the performance of a market index. If your 401(k) is too expensive, or if your employer doesn't offer one, open an IRA instead. Traditional IRAs are tax-deferred like most 401(k)s, while Roth IRAs work in a similar way to Roth 401(k)s. However, you can contribute only $6,000 to IRAs in 2019 or $7,000 if you're 50 or older. But IRAs usually have lower fees and more investment products to choose from, so you can more easily customize your portfolio. Story continues 2. Automate your savings. Automating your retirement savings eliminates the risk that you'll forget to set aside money one month or accidentally spend your savings. You should be able to choose what percentage of each paycheck you want to go toward retirement each month, either by talking with your company's HR department or by adjusting your 401(k) settings online. IRAs may enable you to schedule a repeating deposit as well. If you can't save 15% of your income right now, that's OK. Just do as much as you can and try to increase your savings by 1% every year. Some 401(k)s give you the choice to automatically increase your savings percentage every year, so you don't have to make this change manually. 3. Don't leave any employer-matched funds on the table. If your employer matches your 401(k) contributions, contribute at least enough to get the full match unless you absolutely cannot spare the cash. It's free money for your retirement, and it reduces how much you need to save on your own. Say you earn $50,000 a year, and your employer matches your 401(k) contributions up to 3% of your salary. That's a total of $3,000 toward your retirement -- $1,500 from you and another $1,500 from your employer. If you kept that up for 30 years and earned a 7% annual rate of return, you'd have over $283,000. But if you'd skipped your employer match, you'd have less than $142,000 after 30 years with a 7% rate of return. Be mindful of your company's vesting schedule if your employer matches your 401(k) contributions. This determines when your employer-matched funds are yours to keep. Some plans offer immediate vesting, while others require you to wait a certain number of years to become vested. There are also graded vesting schedules, under which, for example, 25% of your employer-matched funds are yours to keep after one year, 50% after two years, and so on. If you leave the company before you're fully vested, you'll forfeit some or all of your employer-matched funds. 4. Look for ways to free up more cash. Evaluate your budget and look for opportunities to reduce spending in order to free up more cash for retirement savings. Consider cutting back on dining out, travel, coffee, and other discretionary purchases. Then bump up your retirement contributions accordingly. You could also look for ways to increase the money coming in. Work overtime, pursue promotions, or start a side hustle . Put your extra earnings toward your retirement. Stash year-end bonuses and tax refunds in an IRA as well, if you won't need to access that money anytime soon. Super savers aren't that different from the ordinary person. They don't have any special secrets. They're just really good at the basics. By following these four steps, you too can become a super saver, and who knows? You may even be able to bump up your retirement date a little. 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 The Motley Fool has a disclosure policy .
|
The Worst Mistake China Stock Investors Can Make Right Now
The last year has been rough for investors in China stocks.
U.S. tariffs against the world's second-biggest economy and the ongoing trade war with China, along with concerns about slowing growth in the Chinese economy, have weighed on Chinese stocks. TheShanghai Compositefell 25% last year on those concerns, and though it's recouped some of those losses this year on earlier hopes for a resolution, the index is still down more than 10% from where it was at the start of 2018.
Despite valid concerns about China's slowing economic growth and a potentially full-blowntrade war, the worst mistake long-term investors in China stocks can make at this point is to sell their shares in Chinese companies. Here's why:
Image source: Getty Images.
President Trump imposed 10% tariffs on $200 billion worth of Chinese imports last September, and raised that rate to 25% in May, in addition to threatening to levy import taxes on an additional (estimated) $300 billion in Chinese imports.
Nonetheless, China's economy has continued to expand in the face of the new tariffs and the additional threats, and as some American companies have moved production out of China to places like Vietnam, India, and Mexico -- although that shift appears to be at least partly caused by rising labor costs in China.
China's GDP expanded by 6.4% in the first quarter, ahead of estimates of 6.3%, which was faster than almost any other major economy in the world. Meanwhile, China's biggest companies continue to see strong growth.
Alibaba(NYSE: BABA), China's biggest e-commerce company, said revenue jumped 51% in its most recent quarter to $13.9 billion, and gross merchandise volume (GMV) in its China marketplaces, a good proxy for overall retail spending in China, jumped 25% in the year ended March 31 to $853 billion.
Tencent(NASDAQOTH: TCEHY), the Chinese tech giant that owns the popular social media app WeChat and has a hand in everything from digital payments to online games, said revenue rose 16% to $12.7 billion in its first quarter.
Baidu(NASDAQ: BIDU), China's search giant, saw revenue from continuing operations increase 21% in its most recent quarter to $3.6 billion, andJD.com(NASDAQ: JD), China's biggest direct online retailer, said revenue rose 21% to $18 billion during the same period.
None of those companies look like they're feeling any significant cost from the trade war.
Guessing what will happen in the U.S.-China trade war has become a fool's errand. Markets have moved back and forth at each new announcement, whether it's from President Trump, one of his deputies, or China, but often one piece of news is reversed as soon as the next week.
Treasury Secretary Steven Mnuchin, for instance, said in early May that the two sides were in the "final laps" of an agreement. However, by the next week, a potential compromise was in tatters as Trump took to Twitter to declare new tariffs against China.
Looking out further, the 2020 election has the potential to replace President Trump and, with it, would likely bring a change to China policy.
Even if the trade war escalates, a rising sense of nationalism in China could fuel a backlash against American brands and lift up Chinese competitors, as the Chinese could start to favor their own companies. We've already seen hints of this with the now-delayed Trump administration ban on American companiesworking with Huawei. That could lead to China abandoningAppleproducts in favor of Huawei devices. Similarly, it's easy to imagine consumers forgoingStarbucksforLuckin Coffee, and buyingNIOelectric cars instead ofTeslaEVs.
While China's trade relationship with the U.S. may have helped fuel much of its growth over the past 20 years, today China is becoming less dependent on the U.S. The U.S. is still China's biggest trading partner, buying about 19% of its exports, but the Chinese government has focused its attention on building a consumer economy in recent years.
The percentage of its GDP coming from its trade surplus has fallen from 8% in 2008 to 1.3% to 2018, and in the meantime, China has become the world's biggest market for things like cars, luxury goods, and e-commerce, and is poised to top the U.S. in overall retail sales as soon as this year.
China's business leaders have also taken notice of this shift. Alibaba's Executive Vice Chairman Joseph Tsai sought to downplaythe trade war threatin Alibaba's recent earnings call, saying that China was already shifting to a consumer economy. He noted that China had lost 14 million manufacturing jobs over the last five years, but gained 70 million service jobs. Overall job growth has continued, he said, and he predicted that the Chinese middle class would double over the next 10 years. Even in a full-blown trade war, China's transition to a middle-class economy and middle-class expansion should continue.
The situation today remains fluid, with Trump and Chinese President Xi Jinping set to continue negotiations at the G20 summit. But while long-term investors shouldn't get their hopes up for an immediate or a lasting compromise, they should hold onto their Chinese stocks as China's economic growth continues to be outstanding and Chinese companies may continue to put up outsize growth.
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
Jeremy Bowmanowns shares of JD.com, Starbucks, and Tesla. The Motley Fool owns shares of and recommends Apple, Baidu, JD.com, Starbucks, Tencent Holdings, and Tesla. The Motley Fool has the following options: short January 2020 $155 calls on Apple and long January 2020 $150 calls on Apple. The Motley Fool has adisclosure policy.
|
White House official: New sales to China's Huawei to cover only widely available goods
WASHINGTON, June 30 (Reuters) - President Donald Trump's decision to allow expanded sales of U.S. technology supplies to Chinese telecommunications giant Huawei will only apply to products widely available around the world, and leave the most sensitive equipment off limits, a top White House aide said on Sunday. "All that is going to happen is Commerce will grant some additional licenses where there is a general availability" of the parts the company needs, National Economic Council chairman Larry Kudlow said on "Fox News Sunday." U.S. microchip firms in particular "are selling products that are widely available from other countries ... This not a general amnesty ... The national security concerns will remain paramount," he said. The partial lifting of restrictions on Huawei was a key element of the agreement reached over the weekend between President Donald Trump and Chinese President Xi Jinping to reopen stalled trade negotiations between the two countries. It has drawn bipartisan criticism from U.S. Senators concerned that Huawei has close ties to Chinese intelligence agencies that could exploit the global distribution of its technology. "There will be a lot of pushback if it is a major concession," to Huawei, South Carolina Republican Senator Lindsay Graham said on "Meet the Press." Huawei, the world's biggest telecommunications equipment maker and No.2 smartphone maker, denies its products pose a security threat and has sought to fight back in U.S. courts since Washington put it on an export blacklist last month. Kudlow said that designation would remain. Kudlow said the broader concerns about Huawei will be part of the renewed discussions. The agreement over the weekend "is not the last word," Kudlow said. (Reporting by Howard Schneider Editing by Phil Berlowitz)
|
Bombardier Sells Its Final Commercial Aircraft Program
In late 2017,Bombardier(NASDAQOTH: BDRAF)(NASDAQOTH: BDRBF)shocked the market by handing acontrolling stake in its CSeries aircraft program-- now known as the A220 -- over toAirbus. While Bombardier had poured billions of dollars into developing the CSeries, which was supposed to be its main growth driver, the company's management team ultimately decided that competing withBoeingand Airbus was unwise.
This divestiture left Bombardier with two dated, low-volume product families in its commercial aircraft portfolio. Last year, CEO Alain Bellemare announced that the company planned to exit commercial aviation entirely. He fulfilled this promise last week, striking a deal to sell the CRJ regional jet program toMitsubishi Heavy Industries(NASDAQOTH: MHVYF).
In conjunction with the sale agreement, the two companies announced that CRJ production will end next year. That's another piece of good news for regional jet titanEmbraer(NYSE: ERJ).
In recent years, Bombardier has had four main lines of business: commercial aviation, business jets, rail equipment, and aerostructures (wings, fuselages, and other major aircraft parts).
The CRJ900 has been Bombardier's best-selling commercial aircraft in recent years. Image source: Delta Air Lines.
The CSeries was intended to be the future of Bombardier's commercial aviation portfolio. As of two years ago, the unit's other two product lines were the Q400 large turboprop and the CRJ family of regional jets. However, those are aging models, each with just a few dozen remaining firm orders. Once Bombardier decided to give up its majority stake in the CSeries program, it became virtually inevitable that it would sell the rest of its commercial aviation business sooner or later.
Last fall, Bombardier agreed to sell the Q400 line to privately held Longview Aviation Capital for $300 million. That deal was completed about a month ago. The new management team is now scrambling to rebuild the Q400 order backlog, which currently stands at around 50 aircraft.
The final piece of the puzzle fell into place last Tuesday, when Bombardier announced that Mitsubishi Heavy Industries had agreed to acquire the CRJ program for $550 million. The deal is expected to close in the first half of 2020, after which Bombardier will focus its efforts on its stronger business jet and rail segments. (The aerostructures business is also up for sale.)
A curious aspect of the CRJ sale is that both sides acknowledge that this aircraft program has no future. In recent years, it has become clear that airlines -- particularly in the U.S. -- vastly prefer Embraer's E175 jet over the competing CRJ900.
U.S. airlines much prefer the Embraer E175 over Bombardier's CRJ900. Image source: United Airlines.
There were 51 orders remaining in Bombardier's backlog as of the end of March, and that total has continued to dwindle over the past three months. Under the terms of the sale agreement, the few CRJ jets left in the backlog after the deal is completed will be assembled by Bombardier on behalf of Mitsubishi Heavy Industries. Production will wind down by the end of 2020.
So why is Mitsubishi shelling out so much money for the CRJ program? The value of the deal comes from acquiring Bombardier's global sales and service network. For one thing, this should lead to a long stream of profitable aftermarket revenue.
Moreover, Mitsubishi is in the late stages of designing a clean-sheet regional jet of its own. Its SpaceJet M90 is scheduled to enter service next year, followed by itsSpaceJet M100 regional jetfor the U.S. market in 2023. The CRJ acquisition will enable Mitsubishi to skip what could have been a long and costly process of building up global sales, service, and support networks.
I have been pretty skeptical about the wisdom of Mitsubishi Heavy Industries' business plan. While the SpaceJet family should be more efficient than Embraer's offerings, Embraer already has a large customer base and a proven product: advantages that shouldn't be underestimated.
In the U.S. specifically, Embraer's strong position just improved further. Right now, the CRJ900 is the Embraer E175'sonly competitorin the U.S. regional jet market. Given that Bombardier and Mitsubishi Heavy Industries don't plan to try selling any more CRJ900s and the SpaceJet M100 won't be ready until at least 2023, the E175 will have a virtual monopoly in this market segment for the next few years.
By the time the SpaceJet M100 is ready, Embraer will have already captured a huge proportion of the total U.S. market opportunity. Outside of the U.S., regional airlines generally are able to operate planes with up to 100 seats, which makes Mitsubishi's offerings -- currently all in the 75-85 seat range in two-class configurations -- less desirable.
Buying a global services and support network may help Mitsubishi sell a few more SpaceJets. But it still may not allow the company to sell enough new planes to keep the facilities it is acquiring from Bombardier busy once airlines retire most of their aging CRJs.
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
Adam Levine-Weinbergowns shares of Delta Air Lines and Embraer. The Motley Fool owns shares of and recommends Delta Air Lines. The Motley Fool has adisclosure policy.
|
GOP senator: Underestimate Joe Biden at your own peril
Former Vice President Joe Biden needs to "up his game" after underperforming at last week's Democratic presidential debate, Republican Sen. Lindsey Graham said, but other candidates shouldn't underestimate him in the crowded presidential primary race. "The narrative is that maybe it's not his time and that he's not up to the task," Graham said in an interview on "Face the Nation" taped Saturday. "I think you will ... underestimate Joe Biden at your own peril." Biden came under attack from Sen. Kamala Harris (D-Calif.) during Thursdays presidential primary debate over his opposition to federal court-ordered busing implemented to desegregate schools, which Biden calls a misrepresentation of his record. "He's got to up his game," Graham critiqued, but added: "There's not a racist bone in his body." Graham also praised Harris, a fellow senator whose attack on Biden was a key moment in Thursday's primary debate in Miami. "One thing I'll say about Kamala Harris, and I said this before: She's got game," Graham said. "She is very talented, she's very smart, and she'll be a force to be reckoned with." Graham, a Republican from South Carolina, served alongside Biden in the Senate. Biden has underscored his lengthy record in the Senate and contends, despite years of partisan gridlock, that he could work with Republicans on Capitol Hill who have previously obstructed Democratic aims. Graham who criticized Trump during the 2016 presidential election but has since become a staunch ally of the president also slammed Democrats' policy proposals as "pretty liberal, pretty extreme." "I watched the debate," he said. "The policy options being presented to the country by the leading contenders on the Democratic side are their biggest problem."
|
‘Avengers: Endgame’ Inches Toward ‘Avatar’ Box Office Record With Re-Release
Click here to read the full article. Earth’s Mightiest Heroes are still doing whatever it takes to beat “ Avatar ’s” all-time box office record. Disney ’s re-release of “ Avengers: Endgame ” brought in another $5.5 million in its 10th weekend in theaters, marking a 200% increase in ticket sales from its previous outing. “ Avengers: Endgame ,” which originally opened April 26, has generated $2.76 billion worldwide, putting it about $26 million behind “ Avatar .” James Cameron’s sci-fi epic has remained the highest-grossing movie ever for almost 10 years with $2.78 billion in global box office receipts. Related stories 'Spider-Man: Far From Home' Cast Visits Children's Hospital in Los Angeles Disney Puts the Brakes on Fox's 'Alien Nation' Remake 'Toy Story 4' to Top North American Box Office Again With $53 Million Disney , ever determined to knock “Avatar” off that perch, brought “Avengers: Endgame” back to multiplexes before it even left, enticing audiences with additional content and deleted scenes that didn’t make it into the initial three-hour movie. The special screenings, dubbed a Bring Back event, also included a video introduction from director Anthony Russo and a preview of “Spider-Man: Far From Home,” which hits theaters on Tuesday. “Avengers: Endgame” wasn’t expected to pass “Avatar’s” benchmark from this weekend alone (before the re-release it was pacing behind by $44 million). It’s also safe to assume Disney still has a few tricks up its sleeve to get the film to ultimate box office glory. It’s still a testament to Marvel that the juggernaut returned to the top 10 on domestic box office charts, placing seventh for the weekend after almost two months of release. It has now earned $841 million in North America and $1.92 billion internationally. Story continues “Avengers: Endgame,” a culmination to the current phase of the Marvel Cinematic Universe, spotlights a cornucopia of heroes including Iron Man (Robert Downey Jr.), Captain America (Chris Evans), Captain Marvel (Brie Larson), Black Widow (Scarlett Johansson) and Ant-Man (Paul Rudd). RELATED VIDEO: Sign up for Variety’s Newsletter . For the latest news, follow us on Facebook , Twitter , and Instagram .
|
'Toy Story 4' tops 'Annabelle' in sluggish summer weekend
The battle of the toys at the box office continues — and Toy Story 4 emerges victorious once again. After coming in ahead of the Child’s Play remake on both of their opening weekends, now Toy Story 4 beats out haunted toy horror flick Annabelle Comes Home for a second consecutive weekend in the number one box office slot. The Disney-Pixar franchise film wins the weekend with an estimated $57.9 million in ticket sales across 4,575 theaters. Two new releases round out the top three with horror franchise entry Annabelle Comes Home taking second place with an estimated $20.4 million in ticket sales and Beatles-musical fantasy Yesterday landing in third place with an estimated $17 million take. Though Toy Story 4 fell by 52 percent in its second weekend, it still is raking in impressive numbers, posting an estimated cumulative domestic total of $236.9 million in only two weeks in theaters. The continued adventures of Buzz and Woody are performing well overseas, bringing the animated film’s global total to $496.5 million. Everett Collection Annabelle Comes Home debuts in second place in keeping with expectations for the New Line horror entry. This is the third entry in the Annabelle franchise, an extension of the Conjuring Universe, after 2014’s Annabelle and 2017’s Annabelle: Creation. With an opening weekend total of $20.4 million, it marks the lowest opening for any film in the Conjuring franchise, including both previous Annabelle titles which opened to $37.1 million and $35 million respectively. The R-rated Warner Bros. title finds Patrick Wilson and Vera Farmiga reprising their roles as Ed and Lorraine Warren from the Conjuring films, and it also stars Mckenna Grace, Steve Coulter, Katie Sarife, and Madison Isema. As one might expect, the film follows the horrific turn of events when Ed and Lorraine welcome the demonic doll known as Annabelle into their home. Gary Dauberman, who wrote the first two Annabelle films, makes directorial debut. Neither critics nor audiences have responded warmly to the film with tepid reviews and a disappointing B- CinemaScore. Story continues Jonathan Prime/Universal Despite the clear franchise fatigue that has been driving box office numbers lower this summer, original title Yesterday lands in third place with an estimated $17 million in ticket sales. The title exceeded expectations, marking a win for fresh material at a box office dominated by franchise entries and remakes. It also marks director Danny Boyle’s best opening ever, coming in ahead of 2000’s The Beach opening take of $15.3 million. With a script from rom-com vet Richard Curtis, Yesterday tells the story of Jack Malik (Hamish Patel), a young man who wakes up after an accident to find he’s the only person on Earth to remember the music of The Beatles. With the support of childhood friend Ellie (Lily James), he sets out to pass the songs off as his own in an attempt to gain the success he’s craved as a singer-songwriter. Kate McKinnon and Ed Sheeran (as himself!) also star. Despite mild reviews , the film seems to be clicking with audiences, earning a solid A- CinemaScore. Two films continued to rake in global box office dollars to hit major milestones. John Wick: Chapter 3 — Parabellum crossed the $300 million mark worldwide this weekend, while Avengers: Endgame returned to theaters in a renewed bid to pass Avatar as the highest-grossing film of all time. Avatar still holds the crown with a global total of $2.79 billion, but Avengers: Endgame is hot on its heels with a global total of $2.76 billion after adding $5.5 million to its stores this weekend. Films in their sixth and fourth week of release respectively round out the top five for the weekend. Disney’s live action Aladdin continues to hold strong, adding $9.3 million to its total for fourth place at the box office. It now boasts a global total of $874.2 million, which makes it the highest-grossing film of Will Smith’s career on the global stage, surpassing his record of Independence Day’s $821 million haul. Animated sequel The Secret Life of Pets 2 completes the top five for the weekend, taking in $7.1 million in its fourth weekend in theaters. Overall box office is down 9.5 percent to date, according to Comscore. With lackluster summer returns, this number continues to creep back up after Avengers: Endgame knocked it down significantly earlier this year. Check out the June 28-30 numbers below. 1. Toy Story 4 — $57.9 million 2. Annabelle Comes Home — $20.4 million 3. Yesterday — $17 million 4. Aladdin — $9.3 million 5. Secret Life of Pets 2 — $7.1 million 6. Men In Black: International — $6.6 million 7. Avengers: Endgame — $5.5 million 8. Child’s Play — $4.3 million 9. Rocketman — $3.9 million 10. John Wick: Chapter 3 — Parabellum — $3.2 million Related content: Danny Boyle explains how they pulled off that gasp-inducing Beatles moment in Yesterday Game of Thrones alum Joel Fry on becoming the Yesterday scene-stealer — and not really knowing who Ed Sheeran was Tracking Annabelle’s confusing journey through the Conjuring universe
|
AUD/USD and NZD/USD Fundamental Weekly Forecast – US-China Trade News Bullish on Paper; RBA Rate Cut Priced-in
The Australian and New Zealand Dollars finished sharply higher last week with the price action driven by central bank comments. Surprisingly hawkish remarks by the Reserve Bank of Australia (RBA) Governor helped underpin the Aussie, while the Reserve Bank of New Zealand (RBNZ) decision to leave rates unchanged in June fueled the rally in the Kiwi.
Last week, theAUD/USDsettled at .7022, up 0.0096 or +1.39% and theNZD/USDclosed at .6717, up 0.0129 or +1.96%.
Expectations of a U.S. Federal Reserve interest rate cut at its July 30-31 monetary policy meeting also helped drive the Aussie and Kiwi higher even after dovish comments from Federal Reserve Chairman Jerome Powell and St. Louis Federal Reserve President James Bullard dampened hopes by some investors that Fed policymakers would deliver a half-point interest rate cut in July. A 100% chance of a 25 basis point rate cut is still being priced in my U.S. Federal Funds investors.
Although the RBA is expected to cut rates this week on Tuesday, comments last week from RBA Governor Philip Lowe indicated a somewhat dovish tone moving forward. Lowe essentially said that to expect a further interest rate cut was “no unrealistic”.
In a prepared speech, Lowe acknowledged that lower rates could help boost price power via the channel of weaker currency but also that monetary options were not the only one available. Lowe further pointed out that there is only so much that another quarter-percentage point cut can hope to achieve.
Short-sellers read the comments as dovish and an indication that the July 2 cut may be the last this year, thereby triggering an aggressive short-covering rally throughout the week.
The Reserve Bank of New Zealand (RBNZ) held interest rates steady on June 26, but said further cuts to borrowing costs may be needed given growing economic risks at home and abroad.
The RBNZ kept the official cash rate (OCR) at a record low of 1.50%, as expected, and in a strikingly dovish statement warned that a global slowdown is hurting the domestic economy amid intensifying trade risks.
“The global economic outlook has weakened, and downside risks related to trade activity have intensified,” the RBNZ said.
“Given the downside risks around the employment and inflation outlook, a lower OCR may be needed,” it said, having lowered the cash rate by 25 basis points at their last meeting in May.
Speculative buyers didn’t seem to care that the RBNZ was indicating a likely rate cut in the OCR in August and perhaps a 1.00% rate by the end of the year.
This week’s focus for investors will be on this weekend’s decision by the United States and China to resume trade talks after U.S. President Trump and Chinese President Xi Jinping met at the G-20 summit in Osaka, Japan.
On paper the news is bullish for the Australian Dollar since the country is China’s largest trade partner. However, there are still concerns that the trade dispute will continue to linger on because the two parties are still wide apart on issues
The direction of both the Aussie and the Kiwi will be determined by how optimistic speculators are that a trade deal could be struck before sending the global economy into a recession.
On Tuesday, July 2, the RBA is expected to cut its benchmark interest rate 25 basis points to 1.00%. This move has already been discounted. Traders will also get the opportunity to react to data on Building Approvals and Retail Sales.
In the U.S., the key reports early in the week are ISM Manufacturing PMI and ISM Non-Manufacturing PMI. The major report is Non-Farm Payrolls. Traders will be watching for solid growth in the headline number, and steady Average Hourly Earnings and Unemployment Rate.
Thursday, July 4 is a U.S. bank holiday so trading may be thin on Friday also. We may not see a reaction to the jobs data until next Monday or Tuesday.
Thisarticlewas originally posted on FX Empire
• G20 News Drive Big Moves In The Markets
• Part II – Are Real Estate Etf’s The Next Big Trade?
• Gold Price Forecast – Gold markets gapped lower
• USD/JPY Price Forecast – US dollar gaps after G 20 against yen
• Gold Technical Analysis – How do the Experts Trade Gold
• E-mini NASDAQ-100 Index (NQ) Futures Technical Analysis – Strengthens Over 7830.25, Weakens Under 7818.75
|
Stylish outdoor furniture from Walmart
Manor Park 4-Piece Acacia Wood Outdoor Patio Set (Photo: Walmart) Summer’s in full swing—and so are the summer discounts! There’s no better time to get your outdoor space in tip-top shape with super-low prices on stylish outdoor patio furniture . Whether you want to spruce up your backyard with a brand new dining set or make a small update, such as a relaxing hammock — we’ve got you covered. Keep scrolling to shop our favorite outdoor furniture picks today. The editors at Yahoo Lifestyle are committed to finding you the best products at the best prices. At times, we may receive a share from purchases made via links on this page. Safavieh Danville Indoor/Outdoor Contemporary Round Table Safavieh Danville Indoor/Outdoor Contemporary Round Table (Photo: Walmart) Relax outside with a chic round table that you can gather all of your friends around for cocktails and game night. Shop it: $140 (was $206), walmart.com MoDRN Glam Merida 3-Piece Outdoor Lounge Chat Set MoDRN Glam Merida 3-Piece Outdoor Lounge Chat Set (Photo: Walmart) MoDRN is Walmart’s newest foray into modern, minimalistic furniture— launched earlier this year. In the collection, you’ll find sophisticated styles and simple, elevated pieces like this lounge set. Shop it: $383 (was $500), walmart.com Manor Park 4-Piece Acacia Wood Outdoor Patio Set Manor Park 4-Piece Acacia Wood Outdoor Patio Set (Photo: Walmart) This patio set’s classic design blends in beautifully with the natural environment. Shop it: $518, walmart.com Safavieh Salcha Stacking Side Chair – Set of 2 Safavieh Salcha Stacking Side Chair – Set of 2 (Photo: Walmart) Bring that French cafe feeling home with this set of two cafe chairs. Two cappuccinos, s’il vous plait! Shop it: $192 to $220 (was $534), walmart.com Noble House Maraka Outdoor Antique Finish Firwood and Iron Bar Cart Noble House Maraka Outdoor Antique Finish Firwood and Iron Bar Cart (Photo: Walmart) If you love to host, an outdoor bar cart is a must-have to keep all of your beverages, snacks and appetizers in one place for easy access. Shop it: $85, walmart.com Keter Knit Cozy Urban 3-Piece Furniture Set Keter Knit Cozy Urban 3-Piece Furniture Set (Photo: Walmart) For those who have small outdoor spaces, this set can easily be stacked into one another for easy storage. Shop it: $138, walmart.com MoDRN Scandinavian Teak Chaise Lounge with Sunbrella Cushion MoDRN Scandinavian Teak Chaise Lounge with Sunbrella Cushion (Photo: Walmart) Relax and forget all of your worries while taking a break in this sleek and comfy lounge chair. Story continues Shop it: $533 (was $627), walmart.com Best Choice Products 7-Piece Outdoor Furniture Set Nothing sounds more appealing then gathering all of your best buds around one table, sipping a glass of wine as the sun sets around you. Shop it: $410, walmart.com Red Ember Alto Steel Chiminea Red Ember Alto Steel Chiminea (Photo: Walmart) Keep warm during chilly summer nights with this top-rated chiminea, crafted from sturdy black steel. Shop it: $98, walmart.com Best Choice Products Handmade Rope Hammock with Tassels Best Choice Products Handmade Rope Hammock with Tassels (Photo: Walmart) For the bohemian at heart, this hammock is perfect for relaxing and settling in with a good book. Shop it: $53 (was $111), walmart.com Best Choice 5-Piece Outdoor Wicker Dining Set Best Choice 5-Piece Outdoor Wicker Dining Set (Photo: Walmart) Celebrate summer al fresco with this stylish wicker dining set. Shop it: $360 (was $517), walmart.com MoDRN Scandinavian Earthenware Planter with Wood Stand MoDRN Scandinavian Earthenware Planter with Wood Stand (Photo: Walmart) Stock up on these mid-century inspired planters to turn your outdoor space into an artsy oasis. Shop it: $40 to $69, walmart.com Belham Living Rio All Weather Wicker Chat Set Belham Living Rio All Weather Wicker Chat Set (Photo: Walmart) If you prefer furniture that is a bit more rustic, this is the set for you. The comfy cushions are perfect for those late night chats. Shop it: $512 (was $926), walmart.com Noble House Maraka Outdoor Antique Finish Firwood and Iron Bar Cart Noble House Outdoor Ceramic Tile Side Table (Photo: Walmart) This architectural side table will elevate your space without costing you a fortune. Shop it: $85, walmart.com Read More from Yahoo Lifestyle: • The best pillows to prevent back and neck pain • Conquer the clutter: These clever solutions will help you organize every room in the house • ‘Marie Kondo’ your home with 32 organizers that make tidying up joyful Follow us on Instagram , Facebook , Twitter , and Pinterest for nonstop inspiration delivered fresh to your feed, every day. Want daily pop culture news delivered to your inbox? Sign up here for Yahoo’s newsletter.
|
See Daniel Craig drive 007's Aston Martin on Bond 25 set
Daniel Craig ‘s James Bond still has a license to kill — and to drive! In a just-released behind-the-scenes clip from the London shoot of Bond 25 , the actor is seen behind the wheel of an Aston Martin V8, 007’s preferred mode of transport in the big screen spy franchise. Craig is also shown getting out of the car and walking away, in no apparent discomfort, which is significant given his recent travails. It was announced in May that Craig would be undergoing minor ankle surgery after he sustained an injuring during the filming of Bond 25 , but that the movie remained on track to be released in April 2020. Bond 25 is being directed by Cary Fukunaga ( Beasts of No Nation , the first season of True Detective ). The film’s cast also includes Bohemian Rhapsody ‘s Rami Malek , Flash ‘s Dali Benssalah, Velvet Buzzsaw ‘s Billy Magnussen, Blade Runner 2049 ‘s Ana de Armas, Captain Marvel ‘s Lashana Lynch, and Quicksand ‘s David Dencik, with Malek playing a villain. See that behind-the-scenes footage of Craig, below. Daniel Craig and the @astonmartin V8 on location for #Bond25 pic.twitter.com/cPgfMSlUYm — James Bond (@007) June 30, 2019 Related content: Everything we know about the next James Bond film 15 actors we’d like to see cast as the next James Bond Daniel Craig undergoing ankle surgery after ‘Bond 25’ injury View comments
|
Democratic Candidates Condemn 'Attacks' on Sen. Kamala Harris' Race
Democratic presidential candidates have responded with condemnation following accusations about Sen. Kamala Harris’s race. Those allegations were amplified by conservative internet personalities, including President Donald Trump’s son. Questions around Harris’ background seemed prompted by a bruising exchange between her and former Vice President Joe Biden during Thursday’s debates. Harris, whose father is Jamaican and mother is Indian, said she was part of racially integrating her California public school district, and she attacked Biden for his position against public school busing in the ’70s. During the second night of back-to-back Democratic debates on Thursday, Donald Trump Jr. retweeted a tweet that claimed Harris is “not an American black.” “Kamala Harris is not an American Black,” wrote conservative personality Ali Alexander on Thursday in a message retweeted by Trump. “She is half Indian and half Jamaican. I’m so sick of people robbing American Blacks (like myself) of our history. It’s disgusting. Now using it for debate time at #DemDebate2? These are my people not her people. Freaking disgusting.” Harris’s campaign Communications Director, Lily Adams, told CNN on Saturday that the accusations were in the same vein as “birtherist” claims lobbed at President Obama, suggesting that he was not born in America. “This is the same type of racist attack his father used to attack Barack Obama,” Adams said, quoted by CNN , about Trump Jr. “It didn’t work then and it won’t work now.” After adamantly defended his civil rights record on Friday, Biden came to Harris’ defense. The former Vice President also linked the accusations to the “birtherism” claims. “The same forces of hatred rooted in ‘birtherism’ that questioned @BarackObama ‘s American citizenship, and even his racial identity, are now being used against Senator @KamalaHarris ,” Biden tweeted. “It’s disgusting and we have to call it out when we see it. Racism has no place in America.” Story continues The same forces of hatred rooted in 'birtherism' that questioned @BarackObama 's American citizenship, and even his racial identity, are now being used against Senator @KamalaHarris . It’s disgusting and we have to call it out when we see it. Racism has no place in America. — Joe Biden (@JoeBiden) June 29, 2019 Sen. Cory Booker posted a New York Times article that addressed the controversy, and said that “[Harris] doesn’t have [sh**] to prove.” . @KamalaHarris doesn’t have shit to prove. https://t.co/OQm8wVub7W — Cory Booker (@CoryBooker) June 29, 2019 Sen. Bernie Sanders accused Donald Trump Jr. of racism in a tweet, and Mayor Pete Buttigieg also defended Harris. “The presidential competitive field is stronger because Kamala Harris has been powerfully voicing her Black American experience,” Buttigieg wrote on Twitter. “Her first-generation story embodies the American dream. It’s long past time to end these racist, birther-style attacks.” The presidential competitive field is stronger because Kamala Harris has been powerfully voicing her Black American experience. Her first-generation story embodies the American dream. It’s long past time to end these racist, birther-style attacks. https://t.co/x5Wdx8DKr8 — Pete Buttigieg (@PeteButtigieg) June 29, 2019 Donald Trump Jr. is a racist too. Shocker. https://t.co/cy0N6fUseX — Bernie Sanders (@BernieSanders) June 29, 2019 Sen. Elizabeth Warren similarly called out the attack online. She also rebuked tech companies, whom she blamed for allowing the message to propagate on the internet. “The attacks against @KamalaHarris are racist and ugly,” Warren wrote. “We all have an obligation to speak out and say so. And it’s within the power and obligation of tech companies to stop these vile lies dead in their tracks.” The attacks against @KamalaHarris are racist and ugly. We all have an obligation to speak out and say so. And it’s within the power and obligation of tech companies to stop these vile lies dead in their tracks. — Elizabeth Warren (@ewarren) June 29, 2019 “There’s a long history of black Americans being told they don’t belong—and millions are kept down and shut out to this day,” wrote former Texas Congressman Beto O’Rourke on Twitter. “ @KamalaHarris is an American. Period. And all of us must call out attempts to question her identity for what they are: racist.” There's a long history of black Americans being told they don't belong—and millions are kept down and shut out to this day. @KamalaHarris is an American. Period. And all of us must call out attempts to question her identity for what they are: racist. https://t.co/g3n7lmoU2h — Beto O'Rourke (@BetoORourke) June 29, 2019 Julián Castro, former Secretary of Housing and Urban Development, called the attacks “racist” and said they were “part of a right-wing effort to delegitimize an accomplished and powerful black woman.” Sen. Kirsten Gillibrand also condemned the attacks as racist. These disgusting and racist attacks are part of a right-wing effort to delegitimize an accomplished and powerful black woman. Senator Harris has lived an American dream story, and we shouldn’t give voice to those attempting to undermine it. https://t.co/tZssl0zvnf — Julián Castro (@JulianCastro) June 30, 2019 This is racism. It was wrong before, and it’s wrong now. We won’t allow it again. https://t.co/MCkHFdronw — Kirsten Gillibrand (@SenGillibrand) June 29, 2019 Trump Jr., who has more than 3.6 million Twitter followers, later deleted the message. He has served as an vocal surrogate for his father’s reelection campaign. A spokesman for Donald Trump Jr. claimed to the New York Times that the controversy over Trump’s tweet was essentially a misunderstanding.
|
The 2022 BMW i4 Could Be the Tesla Model 3's Biggest Threat Yet
Photo credit: Illustration by Ben Summerell-Youde/Fox Syndication - Car and Driver From Car and Driver BMW is working on an electric sedan called the i4 that will be a competitor to the Tesla Model 3. Based on the same platform as the 3-series and 4-series, the i4 will likely have two electric motors providing all-wheel drive and an electric driving range of up to 350 miles. Look for the i4 to arrive in 2021 with a starting price around $50,000. The upcoming BMW i4 is a fully electric sports sedan, a low-slung four-door fitted with one or two motors. It promises to be the closest competitor yet to the Tesla Model 3 , with the added benefit of having the build quality of a seasoned carmaker. The i4 won't get its own EV platform: but will instead be based on the 3-/4-series' underpinnings known as the Cluster Architecture, or CLAR. While a one-motor version is conceivable, we expect the i4 to have two motors providing standard all-wheel drive. Expect BMW to offer several power and price levels. The largest battery should last about 350 miles between charges and put up zero-to-60 times in the four-second range. Top speed will likely be governed at a low 125 mph to save juice. The Bavarians were wide of the mark with their last attempt to jump-start the EV era. Both of BMW's carbon-fiber battery-powered early adopters, the lunchbox i3 and the plug-in i8 pseudo-supercar, were very cool but a little too weird for most people. With premium appeal, practicality, and affordability, the i4 will attempt to put BMW back on track. Spy photos of the i4 show a fairly conventional shape similar to that of the current 4-series Gran Coupe, and the styling will be inspired by the i Vision Dynamics concept from 2017. Set to arrive in 2021 as a 2022 model, the i4 is likely to start around $50,000. ('You Might Also Like',) Unclogging Streets Could Help City Dwellers Save 125 Hours a Year The 10 Cheapest New Cars of 2018 Get Out Early, Get In Late: What to Know About Auto Lease Transfers
|
American Airlines tech leader talks about outages, hackers
FORT WORTH, Texas (AP) — A government report this month highlighted the frequency of computer outages at airlines, which can stop passengers from checking in for flights, and even prevent planes from taking off. American Airlines canceled about 3,000 flights last June when a hardware breakdown prevented one of its regional affiliates, PSA Airlines, from using crew-scheduling software. Maya Leibman, senior vice president and chief information officer, is responsible for the information technology systems at American, the world's biggest airline. Her greatest achievement was likely the smooth integration of reservations systems at American and US Airways after their merger — a process that has tripped up other carriers. American has increased IT investment after the PSA meltdown — although Leibman won't provide figures. She talked recently with The Associated Press. Her answers were edited for length. Q. The Government Accountability Office just reported on IT outages at airlines. How good is IT at airlines? A. No industry is immune to IT outages. The (GAO) report mentioned that less than 1% of customer complaints filed with the (Department of Transportation) during those years were related to IT outages, and internally at American, less than half a percent of all of our delays are attributed to IT issues. Q. But GAO counted 34 major outages from 2015 through 2017. A. That was across 12 airlines, so if you think about it that way, each airline had between two or three outages over a three-year time period that that led to customer delays. I would say that's pretty akin to any other industry, but airline outages are higher-profile. Q. What is American doing? A. We have a comprehensive program around prevention of issues, modernization of our systems, the way we respond to incidents— incident response and recovery. We're continually refining and testing these processes. But I'll just add that any (chief information officer) who tells you that their company is completely immune to any outages is being unrealistic in this age. Story continues Q. What about hackers? What is American doing to prevent security breaches? A. We have a comprehensive program around prevention, detection, remediation, modernization, and you just get into this cycle of continually refining and testing these tools and these processes to ensure that you are protected as well as you possibly can be. Q. Are you seeing more intrusions or phishing attempts? A. I would say that cyberattacks are definitely on the rise, but I would also say that the tools that we are utilizing to combat them are getting progressively more sophisticated. Q. Has American had any damaging intrusions or breaches? A. Nothing that you haven't read about. Q. After American and US Airways combined, you merged the reservations systems, the loyalty programs and many others. Is there any merger-related IT work still to do? A. The one big domino left is integrating the systems associated with our tech-ops organization, so maintenance and engineering. Airlines generally save that for last, one, because it's really complex, and, two, because there are regulatory and safety issues that we want to ensure we get perfectly correct. We will have the bulk of that completed next year. Q. What else is on your plate? A. Now that a big portion of the integration work is behind us, we can really turn our attention to innovative new technology for our customers and for our team members ... providing technology that better re-accommodates customers on other flights when we experience a flight cancellation, ensuring that customers know where their bags are and ensuring that the bags are staying with the customers and make it to their final destination, volunteering for an oversold flight before the customer even gets to the airport. Q. And you're rolling out compensation offers for passengers on oversold flights? A. We have rolled that out completely domestically and in many international locations as well. So you may get a notification on your phone via the mobile app that says, 'Would you be willing to take another flight? Here's the compensation. Would you like to volunteer?' Q. How important is IT to the financial health of an airline? A. IT can have a huge impact on the airline's financial success. We can lower costs by automating previously manual processes. We can improve revenue by providing easy access to products and services that people want to buy. American has publicly stated that we're expecting $1.3 billion in annual revenue generation and cost savings, of which IT is a portion — not all of that — but certainly a really important factor. Q. I guess I think of IT as preventing a disaster that shuts down the airline for a week. But it's more nuanced? A. If you asked 100 people at the company to think of one thing that we could do to improve the company overall, whether it's increased revenue, reduce costs, improve the customer experience, protect our company, ensure that it thrives, I would bet that 99 of those ideas involve technology in one way or another. ___ David Koenig can be reached at http://twitter.com/airlinewriter
|
A high school student came out in his valedictorian speech to wild applause
High school valedictorian Mason Bleu put the pride in Pride Month when he ended his graduation speech by coming out as bisexual. In a video that went viral on Twitter, he spoke on the importance of pride and in being proud of who he is, and quite frankly brought the house down with some real words of wisdom. "I've dodged it and ignored it because I wasn't proud of who I am," said Bleu in his speech. "But today I'm changing that. I'm proud to be a bisexual man." So I came out during my valedictorian speech. It was definitely the scariest thing I’ve ever done but the reaction was amazing. Thank you to everyone who supported me! #Pride2019 #LGBTQ pic.twitter.com/u8ih03NTJd — mason 🇩🇴 (@maasonbleu) June 29, 2019 Students, parents, and faculty all gave him a standing ovation at that point in his speech, and he finished his speech by thanking everyone who came out for his graduation, "because I just came out." SEE ALSO: The best Pride Month memes of 2019 After his video went viral, Bleu wrote a short thread encouraging others to take pride in themselves and offered to talk to other people who may struggle with their own sexuality. The overarching theme of the speech was about being proud (it is pride month) so I decided that I couldn’t tell people to be proud of who they are when I was in hiding for so long. Anyways, I did this not only for me but for anyone else who has struggled being closeted. — mason 🇩🇴 (@maasonbleu) June 29, 2019 With that being said, you’re not alone. Reach out to me or anyone else you trust. I’ll definitely be willing to talk to anyone. ♥️ thank you so much and happy pride! — mason 🇩🇴 (@maasonbleu) June 29, 2019 Bleu, who is an aspiring actor, also noted that he'd be celebrating coming out at NYC Pride over the weekend. Story continues Thank you for all the support ❤️ really means a lot to me. On that note, I’ll be at NYC pride tomorrow. I hope to see some of y’all — mason 🇩🇴 (@maasonbleu) June 29, 2019 Happy Pride Month indeed 🌈. WATCH: Stonewall participant talks facing the riots, queer community coming together Uploads%252fvideo uploaders%252fdistribution thumb%252fimage%252f91709%252f66421463 9b96 487a a726 0fa7054df9ee.png%252foriginal.png?signature=jihbpnfaa2w8emxcc619fcjnmqs=&source=https%3a%2f%2fblueprint api production.s3.amazonaws
|
2019 FIFA Women's World Cup: 'I admire Megan Rapinoe' - England coach Phil Neville supports USWNT star
LYON, France — Count England Women’s World Cup team coach Phil Neville among Megan Rapinoe’s list of admirers. Two days before Neville’s Lionesses face United States star Rapinoe and the rest of the defending champions with a place in next Sunday’s tournament final on the line, the former Manchester United defender said that he backs the 33-year-old, who was criticized by President Donald Trump last week before scoring both American goals in the U.S.’s quarterfinal win over host nation France. “I admire people who have personality and character,” Neville said Sunday during his pre-match news conference ahead of Tuesday’s match at Olympic Stadium. “I admire people who stand up for what they believe in with strong values. “So yes, I admire Megan Rapinoe for standing up for what she believes in in terms of a lot of things, the fight for equality, the fight for diversity, inclusion that she obviously fights a lot about and campaigns a lot about.” A few minutes earlier, Neville spoke about his first interaction with Rapinoe, which came during the final of the 2018 SheBelieves Cup in Orlando, Florida. “There was a ball that bounced on the touchline — I went to catch the ball and her studs came right though my Apple watch, and she’s never paid me back for that yet,” Neville joked. “And what I liked about it, she didn’t say sorry, she just got on with it. She’s a winner. I like the individuality, both on and off the field, and I absolutely think she’s a world-class footballer.” England coach Phil Neville (left) shows United States forward Megan Rapinoe the watch Rapinoe accidentally broke during the 2018 SheBelieves Cup. (Joe Petro/Getty) Neville would know. He played 59 times for England’s men’s team and although he never appeared in a World Cup, he did win six Premier League titles and the UEFA Champions League with United before moving into management in 2015. He was named the head coach of his country’s women’s side early last year. But while Neville backed the openly gay Rapinoe, who was singled out by Trump in a series of tweets after video surfaced of her saying she wouldn’t visit “the f***ing White House” if the Americans retained their title this summer, he suggested that he might have tried to steer clear of such controversy during his own playing days. Story continues “Me personally, I would never get involved in any political issues,” he said. “I’m a football manager, don’t know anything about politics, don’t like when politicians get involved in football. So I think it’s sometimes ‘stay in your lane’ from my point of view. “But, if you’ve got views, if you’ve got values and you want to air them and you’ve got a platform to air them, I admire people who will stick their head above the parapet,” he added. “And that is why we as footballers and managers have a platform to influence, to influence and to show kids around the world that being a footballer and influencing people and doing the right thing is the right thing to do.” More from Yahoo Sports: World Cup reveals source of strength for Rapinoe, USWNT Knicks in play for big free agents but determined to build right Mets put living players in ‘In Memoriam’ montage USWNT leaves Trump, France behind, focuses on England
|
Oil Price Fundamental Weekly Forecast – Generally Bullish Tone on Optimism Over Trade Deal; OPEC to Continue Production Cuts
U.S. West Texas Intermediate and international-benchmark Brent crude oil futures finished higher last week despite below average volume and volatility after Wednesday’s government stockpiles report.
Crude oil opened the week with a bullish tone as buyers took insurance against a potential supply disruption due to rising tensions between the United States and Iran. Prices were further supported by another bigger than expected draw down in U.S. stockpiles.
However, the markets became rangebound into the end of the week as many of the major players took to the sidelines ahead of the meeting between U.S. President Donald Trump and Chinese President Xi Jinping at the G-20 summit in Osaka, Japan on Saturday. Also contributing to the rangebound trade was general uncertainty ahead of the OPEC meeting in Vienna on July 1-2.
Last week,August WTI crude oilsettled at $58.47, up $1.04 or +1.81% andSeptember Brent crude oilclosed at $66.55, up $2.10 or +3.16%.
WTI and Brent prices climbed to their respective highs of the week after the U.S. government reported a weekly drop of nearly 13 million barrels in domestic crude stocks. The drawdown was about 10 million barrels bigger than expected. In other news, gasoline futures also rallied on reports of the planned closure of a key East Coast refinery.
The EIA reported last Wednesday that U.S. crude supplies dropped by 12.8 million barrels for the week-ended June 21. Traders were looking for a decline of 2.8 million barrels in crude stocks, on average. Earlier in the week, the American Petroleum Institute reported a 7.5 million-barrel fall. Net crude imports also dropped below 3 million barrels per day, the second-lowest in the EIA’s records.
The EIA report also showed that gasoline inventories were down by 1 million barrels, while distillate stockpiles fell 2.4 million barrels the previous week. Traders were looking for supply declines of 1.1 million barrels each for gasoline and distillates.
The Philadelphia Energy Solutions refinery plans to permanently shut down, following an explosion and fire at the 335,000 barrel per-day refinery Friday.
Given the events over the weekend at the G-20 summit in Osaka, Japan, traders are looking for a generally bullish trade at the start of the week. Prices could get a further boost from a favorable outcome of the talks between OPEC and its allies later in the week.
At the G-20 summit, U.S. President Donald Trump and Chinese President Xi Jinping agreed to resume trade talks after nearly two months of stalemate. Trump also said he would not increase tariffs further, and China said it would buy more U.S. soybeans.
The news is generally bullish because it brings the two sides closer to reaching a permanent deal to end the trade dispute that is threatening to trigger a global recession. The news affects the demand side of the equation.
Affecting the supply side will be the decision at the OPEC-led meeting between major oil producers on July 1 -2. It is widely expected that OPEC and its allies, including Russia will continue to cap production at about 1.2 million barrels per day.
We aren’t expecting to hear much about US-Iran relations this week. There may be secret negotiations going on for all we know. Given Trump’s threat to attack the country if provoked, we’d be surprised if Iran blew up a tanker this week. Nonetheless, concerns over an escalation of events in the region should continue to provide support for crude oil prices.
We’re looking for a generally bullish tone this week.
Thisarticlewas originally posted on FX Empire
• S&P 500 Price Forecast – Stock markets gap higher to kick off week
• Part II – Are Real Estate Etf’s The Next Big Trade?
• Corn Falls for the Fourth Session, Coffee Up to Fresh 2019 Highs
• Natural Gas Price Forecast – Natural gas markets roll over on Monday
• E-mini NASDAQ-100 Index (NQ) Futures Technical Analysis – Strengthens Over 7830.25, Weakens Under 7818.75
• GBP/USD Price Forecast – British pound continues to grind
|
Justin Bieber Calls Wife Hailey Baldwin 'Mine' as Kendall Jenner Says She's a 'Little Bit Mine Too'
Hailey Baldwin may be Justin Bieber s wife, but Kendall Jenner says she was her bestie first! The 25-year-old pop star shared a sweet photo of himself and Baldwin over the weekend that showed the couple cozying up to one another in the desert. These are the moments I live for.. alone time with you refreshes my soul, he wrote, as he went on to give his wife a compliment. You are so out of my league and Im okay with that! You are mine and I am yours, Bieber continued, adding the sweet hashtags forever and ever and til the wheels fall off. Weighing in on Biebers declaration of love, the Keeping Up with the Kardashians star, 23, playfully pointed out that singer wasnt the only one who had a close relationship with Baldwin . Shes a little bit mine too, Jenner wrote, adding a raising hand emoji and the Venus symbol. Sharing his own thoughts on the post, Biebers manager Scooter Braun added, Out of your league is the only way to go! Congrats on love. View this post on Instagram These are the moments I live for.. alone time with you refreshes my soul. You are so out of my league and Im okay with that! You are mine and I am yours #foreverandever #tilthewheelsfalloff A post shared by Justin Bieber (@justinbieber) on Jun 29, 2019 at 8:16pm PDT Justin Bieber/Instagram RELATED: Justin Bieber Plays Piano Shirtless as Hailey Baldwin Embraces Him in Steamy Snap: Studio Mode Bieber and Baldwin who tied the knot in a secret courthouse ceremony in September 2018 is planning a second, larger wedding around the same time as their first anniversary to serve as a celebration for family and friends, a source close to Bieber recently told PEOPLE. Hailey is working with a planner, the source continued. They are both excited. (L-R) Justin Bieber and Hailey Baldwin | Hailey Bieber/Instagram Wedding planning had previously taken a backseat for the couple as Bieber focused on his mental health . He is very happy with Hailey, the source shared. He feels so grateful to have her support every day. He feels beyond blessed that she is his wife. Story continues RELATED: Justin Bieber Reveals His Pet Name for Hailey Baldwin After She Walks Met Gala Red Carpet Solo The Canadian singer who began seeking treatment for depression in February explained in a lengthy social media message in March that part of his desire to prioritize his mental health came from a desire to sustain his marriage to Baldwin and live up to the expectations he had created for himself as a future father. I have been looking, seeking, trial and error as most of us do, I am now very focused on repairing some of the deep rooted issues that I have as most of us have, so that I dont fall apart, so that I can sustain my marriage and be the father I want to be, he wrote . Music is very important to me but Nothing comes before my family and my health. (L-R) Hailey Baldwin and Justin Bieber | Hailey Baldwin/Instagram An insider close to the star previously told PEOPLE that Baldwin was one of the most important factors in his decision to seek treatment. He wants to be the best possible husband for Hailey, the insider said. Its one thing to have your issues when youre single, but when youre married, theres two peoples happiness at stake. Hes working on himself so that he can be a good partner to her.
|
O'Rourke visits Mexico, meets turned away US asylum seekers
WASHINGTON (AP) Democratic presidential candidate Beto O'Rourke visited Mexico on Sunday and listened to tearful immigrants say they fled Central American violence and turmoil to seek asylum in the U.S., but were turned away at the border. In his first international trip as a White House hopeful, the former congressman traveled to Ciudad Juarez, across the Rio Grande from his native El Paso, Texas, to meet what his campaign described as "individuals and families directly impacted by Donald Trump's cruel and inhumane policies." A fluent Spanish speaker, O'Rourke met around a table at a shelter with immigrants from El Salvador, Honduras and Guatemala, some of whom wept as they told of being denied entry into the U.S. while their asylum claims are processed. Many said they were terrified they'd be sent back to their home countries, where their lives had been threatened because of abusive spouses, street gang violence or drug smugglers. "We hope, by sharing these stories, that the conscience of our country is awoken right now, and the need to change the policies that we have in place" becomes apparent, O'Rourke said via a livestream on his Facebook page. He blames those being forced to wait on "the Trump administration's unlawful 'Remain in Mexico' program," which has allowed the United States to return thousands of Central Americans to Mexican border cities as they wait to hear about their asylum claims. It is meant to reduce the attractiveness of U.S. asylum requests that in the past had allowed claimants to remain in the U.S. for years as their cases wound their way through the courts. Praising his hometown as part of the world's largest "binational" community with Juarez is a centerpiece of O'Rourke's presidential campaign, and he released a sweeping immigration plan in May calling for providing millions of people in the country illegally with a "pathway" to U.S. citizenship, while deploying thousands of lawyers to the border to help process asylum cases and earmarking $5 billion to improve living conditions in Central America. Story continues O'Rourke has long argued that his border roots make immigration an issue of strength for him, and heading to Mexico may allow him to show off that expertise amid once-promising polling numbers that have flagged in recent months. During the first presidential primary debate in Miami, last week, however, O'Rourke clashed with fellow Texan and presidential candidate Julian Castro, who chided the ex-congressman for not being willing to fully decriminalize crossing the U.S.-Mexico border illegally. O'Rourke has argued that doing so could result in drug- and people-smugglers being protected. Castro, a former Obama administration housing chief and San Antonio mayor, told a Texas rally on Friday night that he had suddenly gone from long being outshined by O'Rourke on the campaign trail to becoming "THE Texan in this race." Asked Sunday on CNN if he was implying that O'Rourke's presidential campaign was effectively finished, Castro responded: "No. I have a lot of respect for Congressman O'Rourke," adding that "he and I get along well" and that the disagreement was purely over policy. Later Sunday, O'Rourke staged a rally outside the U.S. Border Patrol facility in Clint, Texas, near El Paso, where immigrant children have reported being denied access to such basic amenities as showers, soap and toothbrushes. Castro visited that facility Saturday. O'Rourke also previously traveled to a center holding immigrant children in Houston, and was one of many Democratic presidential candidates to visit one in Homestead, Florida, near the Miami debate site. A frequent visitor to Juarez before he began running for president in March, O'Rourke was there in December to meet with immigrants staying in shelters as they waited to begin being processed for U.S. asylum.
|
Price of Gold Fundamental Weekly Forecast – Will Renewed Trade Talks Dampen Any Need for July Rate Cut?
Gold futures finished higher for the week, but well off its multi-year high as investors reduced the chances of a 50 basis point interest rate cut by the Federal Reserve in late July after two central bank officials failed to confirm the need for an aggressive cut. The news drove Treasury yields higher, making the U.S. Dollar a more attractive asset and reducing demand for dollar-denominated gold.
Last week,August Comex goldsettled at $1413.70, up $13.60 or +0.97%.
Given the outcome of the events over the weekend at the G-20 summit in Osaka, Japan, it looks as if gold investors will have some serious decisions to make especially if Treasury yields spike higher on the news.
The key event that most attribute to the sharp reversal to the downside in gold last week were comments from Federal Reserve Chairman Jerome Powell and St. Louis Federal Reserve President James Bullard on June 25, which dampened hopes by some investors that Fed policymakers would deliver a half-point interest rate cut in July.
Powell held close to his comments from the previous week after the Fed’s June interest rate decision and release of its monetary policy statement, saying that while there is greater uncertainty about trade and worries about the global economy, policymakers don’t know how long this may last or how serious the drag might be. Traders read this to mean that Powell was not endorsing the 50 basis point rate cut that the markets had been pricing in.
“The question my colleagues and I are grappling with is whether these uncertainties will continue to weigh on the outlook and thus call for additional policy accommodation,” Powell said in brief remarks ahead of a moderated discussion at the Council on Foreign Relations in New York.
Bullard, who was the lone dissenter from the Fed decision to hold rates steady at its June meeting, reiterated that he thought a quarter-point rate cut would be a wise “insurance” move. However, he also didn’t endorse a half-point rate cut.
“I think 50 basis points would be overdone,” Bullard said on Bloomberg Television.
The comments encouraged 10-year Treasury note investors to book profits after a spectacular rally. Since note prices run inverse to yields, the action drove Treasury yields higher, dragging up the U.S. Dollar and pushing down gold prices.
In a move that should have a major impact on the financial markets on Monday, U.S. President Donald Trump and Chinese President Xi Jinping agreed on Saturday at their meeting at the G-20 summit in Osaka, Japan, to proceed with trade negotiations.
For nearly two months, a series of escalations to the on-going trade spat between the United States and China had held the financial markets hostage, nearly forcing a change in U.S. monetary policy, while threatening to drive the global economy into recession.
After meeting for about 80 minutes, the two leaders emerged with the news that trade negotiations were back on. Furthermore, it looks like Trump offered a few concessions to get the deal-making process moving forward.
Chinese state-run press agency Xinhua described the meeting result as the presidents agreeing “to restart trade consultations between their countries on the basis of equality and mutual respect.”
Trump said afterwards that the meeting had gone as well as it could have, and that negotiations with China would continue. “We are right back on track,” the president said.
If investors read this news as bullish for the economy, or that it could encourage the Fed to pass on a rate cut in late July then gold prices are likely to drop sharply.
I don’t see how Treasury investors can’t start pricing in the possibility of a trade deal over the near future so I’m leaning to the downside for gold.
What we really have are two situations. There are some that believe the economy is damaged and the Fed needs to cut as “insurance” against further weakness, and those who believe policymakers will continue to take a “wait and see” attitude.
Given that one outcome is potentially bullish and the other potentially bearish, we could see extreme volatility this week especially with the U.S. bank holiday on Thursday, sandwiched between a pair of PMI reports and the U.S. Non-Farm Payrolls data on Friday.
Watch the Treasury yields for clues.
Thisarticlewas originally posted on FX Empire
• GBP/JPY Price Forecast – British pound rallies into resistance
• E-mini NASDAQ-100 Index (NQ) Futures Technical Analysis – Strengthens Over 7830.25, Weakens Under 7818.75
• Part II – Are Real Estate Etf’s The Next Big Trade?
• USD/JPY Price Forecast – US dollar gaps after G 20 against yen
• Crude Oil Price Forecast – Crude oil markets run into resistance
• E-mini Dow Jones Industrial Average (YM) Futures Technical Analysis – July 1, 2019 Forecast
|
Scaling Your Successful Business Can Be Challenging… According To Rick Rahim
ATLANTA, GA / ACCESSWIRE / June 30, 2019 /Rick Rahimsays it's easy to build a successful, high-quality business if you focus on quality and value for your clients. "Any passionate and hard-working person can create a business and succeed," saysRahim. "But scaling it is the true challenge,"hesays.
Rickis the President ofBusinessVenures.com. He has built many successful businesses from scratch. "Starting a business is easy,"Rahimsays. "Making it grow is hard."
Ricksays that virtually anybody with a true passion for what he or she does can eventually build a profitable small business through trial-and-error.He saysthe key to success is a willingness to accept failure and adapt. "It's okay to try and fail so long as you learn from the failures and strive not to repeat them."
"Once you build a successful business, how do you grow it and maintain the quality that made you successful?"Ricksays it's easy to control quality and service when a startup company is small enough for theownerto be hands-on. But Rahim says growing pains can be very real and often threaten the success of an expanding company.
"The key is to hire coachable people," according toRick.Rahimadvises "hire open-minded people who show a willingness to learn."He says"Traditional mentors will advise you to hire experienced people who can take over many of your daily functions." ButRickadvises entrepreneurs to instead hire coachable people who are eager but not necessarily as experienced.
Ricksays it is more important to build a training system and solid policies for your employees. "Focus on building the recipe for success that can be duplicated by the people you hire."Rahimsays you should strive more for a system that can be followed by anyone you hire.
According toRick, "If you want to scale, you must first build a system and the tools so you can hire other people to help you grow."Rickis a big believer in using technology to track and improve the metrics of his various companies.
"Stay away from hiring the 'know-it-alls' who claim they can come in and make your business better," saysRahim. "Those are the exact people who cannot be trusted to run your business the wayyouwant it run."
Instead, saysRick, "hire people who are confident, yet willing to learn."Ricksays "if they insist they can come in and fix everything, they'll never be willing to accept your leadership."
For Rick Rahim, scaling anycompanyrevolves around building systems that allow your employees to succeed. Once the systems are in place, hiring and training becomes much easier.
RickRahimwith Jerry Seinfeld
*Rick Rahimis the Founder of BusinessVentures.com and has grown many large companies throughout his career.Rickis a veteran helicopter and airplane pilot, having volunteered and personally flown over 1,100 children in his helicopter through his volunteer organization atFreeHelicopterRides.com.Rickis also a successfulauthor.
SOURCE:BusinessVentures.com
View source version on accesswire.com:https://www.accesswire.com/550411/Scaling-Your-Successful-Business-Can-Be-Challenging-According-To-Rick-Rahim
|
Divorced? Here's How It Will Affect Your Social Security Benefits
A whopping 91% of Americans over the age of 50 don't understand what factors determine the amount they can potentially receive in Social Security benefits, a survey from the Nationwide Retirement Institute found.
There are several factors that can affect how much you receive in Social Security benefits, such as the age at which you claim, whether youcontinue working after you claim benefits, and how much you earned during the years you paid into Social Security.
One factor that's easy to overlook, however, is divorce. If you are currently divorced and were married for at least 10 years, you or your ex-spouse could be earning more in Social Security benefits than you think.
Image source: Getty Images
Not all divorced couples are eligible to receive additional benefits once they start claiming Social Security, and there are certain requirements you'll have to meet.
The first thing to consider is how your benefits compare to your ex-spouse's. If you're receiving more in Social Security benefits than your ex-spouse (or if you haven't claimed yet but are expected to receive more than your ex-spouse), you're not eligible for any additional money each month. But if you're receiving less each month than your ex, you may be eligible for an increase in benefits based on your ex-spouse's work record.
Assuming you're receiving less than your ex-spouse in benefits, there are a few other requirements you'll need to meet. First, you and your former spouse need to have been married for at least 10 years, and you cannot currently be married (although it doesn't matter whether your ex-spouse has remarried or not). In order to start claiming benefits, you also need to be at least 62 years old.
If you and your ex-spouse are old enough to file for benefits but your ex hasn't claimed them yet, you can still claim your benefits based on their work record if you have been divorced for at least two years. Also, if you'reeligible for benefitsbased on your own work record, that money will be paid out first. Then if you're also eligible to receive extra benefits based on your ex-spouse's record, you'll receive an additional amount each month.
Exactly how much extra you'll receive depends on the age at which you claim. In order to receive the full amount you're entitled to, you'll have to wait until yourfull retirement age(FRA) -- which is either age 66, 67, or somewhere in between. If you claim before then (as early as age 62), your benefits will be reduced. By waiting until your FRA, assuming you're eligible to receive benefits based on your ex-spouse's record, you can receive half of the amount he or she is receiving in benefits.
One last thing to keep in mind is that regardless of how much someone is receiving in benefits based on their ex-spouses record, it doesn't affect how much the other person or their current spouse receives in benefits. So if, say, your ex-wife is receiving benefits based on your record, your and your current wife's benefits will not be reduced as a result.
Figuring out whether you can claim benefits based on an ex-spouse's record and calculating what you'd actually receive is complicated and confusing. So let's look at a hypothetical example to make it a little easier to understand.
Let's say you and your husband were married 20 years, and you never remarried after the divorce. Your FRA is 67 years old, and if you claim at that age, you'd be receiving $1,000 per month based on your own work record and earnings. Your ex-husband, however, is currently receiving $2,500 per month in benefits. Because you were married at least 10 years, you're unmarried now, and you're eligible to receive less in benefits than your ex-spouse, you can apply for benefits based on your ex-husband's record.
For simplicity's sake, let's say you wait until your FRA to claim. By doing so, you'll receive the full $1,000 you're entitled to based on your own record. Based on your ex-husband's work record, you're eligible to receive half of what he's receiving, or $1,250 per month. With ex-spouse benefits, you're not allowed to "double dip" -- meaning you won't receive your $1,000 plus $1,250 based on your ex-husband's record. Rather, you'll receive your $1,000 and an additional $250 per month so that your total benefit amount is equal to half of what your ex-spouse is receiving in benefits.
Also, all the normal Social Security restrictions still apply here. So if, for example, you claim earlier than your FRA, your benefits will be reduced. And if you continue working after claiming benefits, you may see a (temporary) reduction in benefits as well, depending on how much you're earning.
Social Security benefits can seem complex, and there are many factors that contribute to how much you'll receive each month. But by understanding how much you're entitled to and whether you're eligible for additional benefits, you can maximize your monthly checks -- and enjoy a more financially stable retirement.
More From The Motley Fool
• Here's How to Get the Maximum Social Security Benefit
• The $16,728 Social Security Bonus You Can’t Afford to Miss
• 5 Top Dividend Kings to Buy and Hold Forever
• Is Social Security Taxable?
The Motley Fool has adisclosure policy.
|
Better Buy: Intercept Pharmaceuticals vs. CV Sciences
Intercept Pharmaceuticals(NASDAQ: ICPT)andCV Sciences(NASDAQOTH: CVSI)have practically nothing in common. Intercept is a biotech focused on developing and marketing liver disease drugs, while CV Sciences is a leader in the hemp cannabidiol (CBD) market.
There are two similarities between Intercept and CV Sciences, though. Both stocks appear to have great long-term prospects. Both stocks are also down so far in 2019. But which is the better pick for investors now? Here's how Intercept Pharmaceuticals and CV Sciences stack up against each other.
Image source: Getty Images.
Intercept's crown jewel is Ocaliva. Sales for the drugsoared nearly 48% year over year in the first quarterto $51.8 million. Ocaliva received FDA approval two years ago for treating primary biliary cholangitis (PBC).
There's a significant market for Ocaliva in treating PBC. The chronic liver disease affects at least 75,000 people in the U.S. Ocaliva's price is around $70,000 per year. If Intercept could capture one-third of the addressable market, the company's annual revenue would be in the ballpark of $1.75 billion.
The international PBC market is even larger. Intercept has already won regulatory approvals for Ocaliva in the PBC indication in Europe, Canada, Israel, and Australia.
But there's an even bigger opportunity potentially ahead for Intercept. The biotech plans to file for FDA approval of Ocaliva in treating nonalcoholic steatohepatitis (NASH) within the next few months. There currently are no approved treatments for NASH. The disease is a leading cause of liver transplants. Analysts think that the market for NASH drugs could be huge, with some even predictinga market size of up to $35 billion annually.
Several drugmakers have experienced major clinical setbacks for their leading NASH candidates. Intercept, though, reported positive results from its late-stage study of Ocaliva in treating NASH. The company appears to be on track to be a first-mover in the potentially lucrative indication.
Despite the tremendous potential for Ocaliva, Intercept's market cap is only around $2.6 billion. The average one-year price target among Wall Street analysts for the stock is nearly double the biotech's current share price.
CV Sciences focuses on two areas. The company is best known for its top-selling hemp CBD products. However, CV Sciences also is developing experimental CBD-based drugs.
Business is booming for CV Sciences' hemp CBD products. The company's sales skyrocketed 85% year over year in the first quarter to $14.9 million. This sizzling growth should continue.
Thanks to the passage of the 2018 farm bill in December, hemp is now legal throughout the U.S. This has opened a lot of new doors for CV Sciences. In Q1, the company shipped to its first order to a leading national drugstore chain. A few weeks ago, CV Sciences announced a new distribution deal withKroger. The company's products are now sold in close to 4,600 stores nationwide in the U.S.
Opinions vary about just how big the U.S. hemp CBD market could become. Cannabis market researcher Brightfield Group predicts a$22 billion market by 2022. Cowen estimates that the U.S. hemp CBD market could reach $16 billion within the next few years. Others have lower projections. But everyone agrees that the market should grow tremendously.
CV Sciences should be one of the prime beneficiaries as this market expands. The company's hemp CBD products are already the No. 1 brand, according to data from SPINS, the leading provider of analytics reporting for the natural, organic, and specialty products industry.
In addition to all of this, CV Sciences hopes to also have success in developing CBD drugs. The company plans to submit for FDA approval by early 2020 to begin a clinical trial for a CBD-based smokeless tobacco cessation product. CV Sciences estimates that the potential addressable market for this product could be around $4 billion annually.
I think both Intercept and CV Sciences appear to be pretty good stocks to buy right now. If I had to choose just one of them, though, my pick would be CV Sciences.
CV Sciences is already nearly profitable. It posted adjusted net income of $1.5 million in Q1, although under generally accepted accounting principles (GAAP), CV Sciences had a net loss. Intercept continues to lose a lot of money. CV Sciences' valuation also appears to be more attractive than Intercept's right now.
There are still several risks for CV Sciences, though. The company is likely to face increasing competition in the U.S. hemp CBD market. It's possible that the FDA could come out with CBD regulations that hinder CV Sciences' growth. However, I think the potential rewards with this stock outweigh the risks.
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
Keith Speightshas no position in any of the stocks mentioned. The Motley Fool recommends Intercept Pharmaceuticals. The Motley Fool has adisclosure policy.
|
Gunmen fire on Lebanese minister's convoy, killing 2 guards
BEIRUT (AP) A Lebanese Cabinet minister said gunmen opened fire at his convoy in a mountain village near Beirut on Sunday, killing two of his guards and wounding another. Saleh al-Gharib, the minister of state handling refugee issues, told local TV he was heading to the mountain village of Qabr Shamoun when his convoy came under fire. Al-Gharib is a member of a Druze party allied with the militant Hezbollah group and supportive of the Syrian government. The Druze follow an offshoot of Shiite Islam. Like most Lebanese, they are fiercely divided over the war in neighboring Syria, with some supporting President Bashar Assad's government and others aligned with the opposition. The shooting came as supporters of the Progressive Socialist Party, led by Druze leader Walid Jumblatt, closed roads to prevent Foreign Minister Gebran Bassil from touring the region. Jumblatt's party is opposed to Assad. The PSP said in a statement that al-Gharib's guards opened fire "randomly" at a group of people who were closing the road to prevent Bassil from passing. It said a PSP supporter was wounded in the shooting, and that others who had weapons opened fire at al-Gharib's convoy, killing two of his guards. "What happened was an armed ambush and a clear assassination attempt," al-Gharib told the local Al-Jadeed TV. The area where the shooting took place witnessed some of the worst fighting and sectarian killings during Lebanon's 1975-1990 civil war. Tensions in the area remain high decades later. Prime Minister Saad Hariri called officials from the rival parties as well as heads of security agencies, urging them to restore calm. Druze spiritual leader Sheikh Naim Hassan called on members of the sect to calm the situation and urged state institutions to open an investigation into the shooting. The Lebanese army sent reinforcements to the area. View comments
|
Nike Meets High Expectations in the Fourth Quarter
The leading athletic apparel brand turned in another round of solid operating results in thefiscal fourth quarter.Nike(NYSE: NKE)reported broad-based growth across geographies, footwear and apparel, and the men's and women's categories.
While management didn't knock investors' socks off with guidance, the outlook didn't disappoint, either, as the company expects current demand trends to continue in the year ahead.
Here are three highlights from the quarter that reveal a brand that is continuing to fire on all cylinders.
Sales of lifestyle sneakers are booming, thanks to new designs like the Nike x AMBUSH Air Max 180. IMAGE SOURCE: NIKE.
Said Nike CEO Mark Parker:
Nike delivered strong results in fiscal year 2019, growing 11% on a currency-neutral basis, which outpaced our expectations from the beginning of the year. Our results are further proof that the demand for sport performance and athletic lifestyle product is thriving, and our Consumer Direct Offense is capturing more of that opportunity every day.
Total Nike brand revenue (excluding revenue from Converse and other corporate items) accelerated from 9% in the year-ago quarter to 10% in the most recent quarter. That doesn't sound like much, but it's noteworthy for a business that generated $39.1 billion in revenue over the last year.
What's more, Nike has seen much better performance in North America, where sales growth accelerated from a decline of 2% in fiscal 2018 to an increase of 7% in fiscal 2019. The acceleration was balanced across footwear and apparel, with footwear seeing the biggest jump in growth (no pun intended).
While sales of performance sneakers have been declining in recent years, lifestyle sneakers are experiencing rising demand. On that note, Parker stated that demand is so strong for Nike AIR that it is "outpacing supply."
Product innovation, including the React Element 55, 87, and Presto, in addition to AIR, drove more than 20% growth in sportswear in the fourth quarter. Parker said, "We see great opportunity for both platforms to continue to carve out new space in the lifestyle market."
One significant opportunity for Nike is growing the women's category, which makes up less than a quarter of total revenue. The women's business has been growing slightly faster than men's lately. On this front, here's what Parker had to say:
It's hard to overstate how important this year has been to the evolution of the women's offense at Nike. The business grew double digits in fiscal 19 accelerating in the back half of the year. Our momentum in women's is a great example of how our renewed focus is really moving the needle through thoughtful design, powerful brand messages, and digitally led distribution.
An example of how Nike is winning with women is the Air Max Dia, a women's sneaker that was recently a best-seller and helped drive double-digit growth in the women's category last quarter.
The Nike Air Max Dia. IMAGE SOURCE: NIKE.
Parker also explained how digital is a vital tool to connect with women and grow the business overall:
We continue to find that when we present product in more future-forward ways, we're able to take the female consumer someplace new. And they're responding. Our women's business in Nike Direct and through our digital platforms continues to outpace our performance in wholesale channels.
Sales through Nike Direct (including company-owned stores) grew 16% in fiscal 2019 on a currency-neutral basis, while sales through digital platforms, like the SNKRS app and Nike.com, were up 35% year over year.
Nike now has 170 million members in the Nike Plus ecosystem, which is ahead of management's expectations.The SNKRS apphas been incredibly valuable in fueling Nike's comeback in footwear recently. Last year, SNKRS saw tremendous growth, with revenue more than doubling, reaching more than $750 million, or 20% of Nike's digital business.
The Nike app provides the complete shopping experience on mobile for the brand, and growth has been incredibly strong here, too. Revenue increased at a triple-digit rate, and Nike is "just starting to roll it out globally," as CFO Andy Campion said. The Nike app will launch in China in fiscal 2020, the fastest-growing region for Nike, with revenue climbing 24% last year adjusted for currency.
Nike's outlook points to current demand trends continuing through the year ahead. Revenue is expected to be up in the high-single-digit range on a reported basis, slightly up from fiscal 2019. Management also expects balanced growth across all geographies.
More importantly, gross margin should improve by half a percentage point, thanks to Nike's strategy to release new products faster and generate higher full-price sell-through. Management said margin expansion would be even higher if not for investments to enhance the supply chain and inventory management.
The market's response was muted following the earnings announcement. The stock has had a good run over the last few years and sports a premium valuation, so a lot of Nike's business growth may already be priced into the stock price for now. But if Nike delivers on analysts' expectations for earnings to grow about 20% this year, the stock could still have room to run, both in the short and long term.
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
John Ballardhas no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Nike. The Motley Fool has adisclosure policy.
|
Kendall Jenner Left the Best Comment On Justin Bieber’s Gushy Instagram About Hailey Baldwin
Photo credit: Gotham - Getty Images From ELLE Justin Bieber is back to professing his love for Hailey Baldwin on Instagram, but Kendall Jenner would like in on the action. Bieber posted a photo of him and his wife on a sunset hike in the desert on Saturday writing, “These are the moments I live for.. alone time with you refreshes my soul. You are so out of my league and I’m okay with that! You are mine and I am yours #foreverandever #tilthewheelsfalloff.” View this post on Instagram These are the moments I live for.. alone time with you refreshes my soul. You are so out of my league and I’m okay with that! You are mine and I am yours #foreverandever #tilthewheelsfalloff A post shared by Justin Bieber (@justinbieber) on Jun 29, 2019 at 8:16pm PDT Not everyone was thrilled with Bieber claiming Baldwin all to herself though. Kendall Jenner added her own comment saying, “she’s a little bit mine too.” According to People , Bieber and Baldwin will be following in Joe Jonas and Sophie Turner’s footsteps by having a second, more lavish wedding to follow up their first smaller ceremony. The couple secretly wed at a courthouse in New York last September, just two months after they rekindled their romance. Now they’re hoping to follow it up with a larger ceremony for their first anniversary as a “celebration for family and friends.” “Hailey is working with a planner,” the source said. “They are both excited.” The wedding planning has been slow going due to Bieber taking time to focus on his mental health. The singer has been seeking treatment for depression since February. “He wants to be the best possible husband for Hailey,” a source told People back in February. “It’s one thing to have your issues when you’re single, but when you’re married, there’s two people’s happiness at stake. He’s working on himself so that he can be a good partner to her.” ('You Might Also Like',) 10 Pairs of White Sneakers That Go With Everything 50 Surprising Things You Never Knew About 'Sex and the City' 20 Serums to Solve All Your Skincare Problems
|
1 High-Yield Dividend Stock to Buy in July
Enterprise Products Partners(NYSE: EPD)has been a fantastic stock for income investors over the years. Themaster limited partnership(MLP) has increased its distribution to investors every year for thepast two decades, including in each of the last 59 quarters. As a result of all that growth, themidstream companynow yields a well-above-average 6.1%.
The MLP has plenty of growth still left in the tank, which is one of the many factors that makes it an attractive income stock to buy this month.
Image source: Getty Images.
The main attraction with Enterprise Products Partners is its lucrative cash distribution. However, while the company's current yield is well above average, that doesn't mean it's high risk. Three factors put the company's payout on one of the firmest foundations in the energy industry.
First, Enterprise Products Partners generates very predictable cash flow backed primarily by fee-based contracts. In the first quarter, for example, 83% of the company's earnings came from these stable sources.
Second, the MLP only uses about 60% of its cash flow to support its high-yielding payout. That's a conservative level for a midstream company; they are often comfortable paying out 80% of their cash flow.
Finally, the company has one of the top credit ratings among MLPs. It backs that rating with a low 3.5 times leverage ratio. That strong balance sheet, when combined with the cash it retains after paying the distribution, gives Enterprise Products Partners the financial flexibility to invest in expansion projects. That formula has helped fuel steady growth in its payout over the years.
Enterprise Products Partners currently has $5 billion of growth projects underway, which it should finish over the next two years. As those expansions enter service, they'll supply the company with incremental cash flow that it can use to continue increasing its distribution.
In addition to those projects, Enterprise has several more in development. The company is currently working on $5 billion to $10 billion of additional growth opportunities. One noteworthy project that it's pursuing is anoffshore crude oil portthat it wants to build near Freeport, Texas. The facility would be capable of fully loading very large crude carriers, which can hold 2 million barrels of oil. Enterprise's ability to secure additional expansion projects like that one will enable it to continue growing both its cash flow and distribution.
Image source: Getty Images.
Typically, companies that boast a strong financial profile and solid growth prospects and pay an excellent income stream sell for a premium valuation. However, that's not the case with Enterprise Products Partners. While the MLP's unit price has risen about 16% this year, it's only up about 4% over the past 12 months. The company's cash flow, on the other hand, has surged 28% over that time frame. Thanks to that, Enterprise trades at a much cheaper valuation.
The company has generated $2.77 per unit of cash flow in the last 12 months. However, the fact that its units currently trade at around $29 apiece implies that Enterprise Products Partners sells for roughly 10.5 times cash flow. For comparison's sake, the market valued it at about 13 times cash flow around this time last year, which was closer to the industry's historical average.
Enterprise Products Partners checks all the boxes for investors. It offers them excellent income, solid growth prospects, a strong financial profile, and a reasonable valuation. Those factors add up to make it an ideal stock for income-seeking investors to buy this month, since they should help it generate market-beating total returns in the coming years.
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
Matthew DiLalloowns shares of Enterprise Products Partners. The Motley Fool recommends Enterprise Products Partners. The Motley Fool has adisclosure policy.
|
Google's texting app could soon be more like Snapchat
Google's iMessage competitor may soon be getting an upgrade.
The company is testing Snapchat-like augmented reality effects in its Android Messages texting app, according to a new report.
The folksat XDA Developersuncovered five unreleased AR effects in the messages app, and they're actually pretty cool. You can see them all in the video below, but they include a fireworks effects, an angel (complete with a halo, of course), confetti, balloons, and a clever airplane animation.
At this point, it's not clear if this is anything more than a test or when these might be more widely available. Google didn't immediately respond to a request for comment on the feature.Read more...
More aboutTech,Google,Android,Apps And Software, andTech
|
Francis Ngannou doesn’t care who wins at UFC 241, he simply wants what he’s earned
Plain and simple, Francis Ngannou wants what he believes he's earned: a UFC heavyweight title shot. After Saturday night's headlining performance at UFC on ESPN 3, it's difficult to argue with him. Ngannou stopped former champion Junior dos Santos 1:11 into the first round. Ngannou stumbled in his first shot at a UFC belt, losing a unanimous decision to Stipe Miocic at UFC 220. His confidence shaken, he then lost a decision to Derrick Lewis in his next fight. Since then, Ngannou has settled in and regained the form that rocketed him toward the championship in the first place, winning his first six UFC bouts via stoppage, five of those by way of knockout. Since the loss to Lewis, Ngannou has won three consecutive fights, taking out Curtis Blaydes for a second time, defeating former champ Cain Velasquez, and now dos Santos, all via knockout. What else does he have to prove to regain a spot in a title fight? Nothing, according to him. “That’s the only thing that would make sense right now for me. He said we’re going to talk about it. I assume that means yes,” Ngannou said after the fight when asked what he was saying to UFC president Dana White as he stood victorious in the cage. “Do I deserve the title shot or not? I think the answer is yes. Then what happens or somebody gets an injury, I don’t know, I just want that they give me the title contract and then we have time to prepare and put it all together. If (Daniel Cormier) wins and decides to retire, the division would not stay without a champion. They would have to figure out something and I would be the head of the line so I’m not concerned about that.” Cormier is currently slated to put his belt on the line in a rematch with Miocic in the UFC 241 headliner on Aug. 17 in Anaheim, Calif. Though he hasn't said so definitively, Cormier has hinted that it may be the last time that he steps into the Octagon. TRENDING > UFC on ESPN 3: Francis Ngannou vs. Junior dos Santos recap video Ngannou would like to face Cormier before he walks off into the sunset, but the goal is still the UFC heavyweight championship, and it doesn't really matter from whom he takes it. “I don’t really care because both of them is a good fight for me. Stipe is my rematch that I want to do and DC is the double champ and he’s almost about to retire, according to what he said. Either fight will be good for me.” Currently ranked No. 2 in the UFC heavyweight division behind only Miocic and the champion, Ngannou believes him fighting for the belt next is the only thing that makes sense. There is no argument. “I don’t think at this point I still have to claim the title shot. I think it’s obvious. I think I deserve it.” View comments
|
Joe Jonas and Sophie Turner confiscated Diplo's phone at wedding
Joe Jonas and Sophie Turner (Photo: Instagram) Newlyweds Joe Jonas and Sophie Turner didnt giving Diplo a second chance to live stream their wedding. The couple celebrated their marriage for the second time in France on Saturday, with record producer Diplo in attendance. However, this time, he was not given the opportunity to broadcast the event live on the internet. The couple first wed in May, in a ceremony in Las Vegas following the Billboard awards, and the reason we know that is because Diplo whipped out his phone and started streaming the whole thing live on Instagram, which apparently wasnt cool with the couple. After attending the couples second round of I dos in France on Saturday, the DJ joked that his phone had been confiscated in order to keep this wedding a little more private. View this post on Instagram A post shared by diplo (@diplo) on Jun 30, 2019 at 7:35am PDT This is the only photo I got from Joe and Sophie Turner Jonas wedding because they took my phone from me and put in a holding cell during the ceremony. Heard it was lovely tho, he wrote on Instagram alongside a photo looking sharp in a black suit walking down a set of stairs in Avignon, France. Apparently, Turner (and Jonas) weren't planning on making their Vegas marriage public knowledge, but then Diplo shot video of it and posted it to Instagram. ...Its tricky when people livestream it, Turner explained in an interview with Porter magazine that took place just a week after the "semi-spontaneous" wedding. She's not mad, though: It would have been better if no one had known, but I actually think it was funny, she said. Read more on Yahoo Entertainment: The big meaning behind Demi Lovato's tiny, new tattoo 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 Want daily pop culture news delivered to your inbox? Sign up here for Yahoo Entertainment & Lifestyle's newsletter.
|
Millions celebrate LGBTQ pride in New York amid global fight for equality: organizers
By Maria Caspani and Matthew Lavietes NEW YORK (Reuters) - Millions lined the streets of New York on Sunday to wave rainbow flags, celebrate the movement toward LGBTQ equality and renew calls for action in what organizers billed as the largest gay pride celebration in history. Event organizers and city officials said 150,000 parade marchers and up to 4 million visitors commemorated the 50th anniversary of the Stonewall uprising that triggered the modern LGBTQ movement, with corporate sponsorship and police protection that would have been unthinkable half a century ago. Reuters could not independently verify the crowd estimate. Similar parades were being held around the world, with celebratory events in liberal democracies and growing fights for equality in other places. North Macedonia held its first gay pride march on Saturday. In Singapore, marchers called for scrapping a law banning gay sex. In Turkey, members of Istanbul's gay and transgender community gathered for a small rally that ended with tear gas and rubber bullets on Sunday after their annual march was banned for the fifth consecutive year. "It's hard for us today, but can you even imagine what some of these people went through in the past? There's no way to thank them," said Josh Greenblatt, 25, an actor wearing red sunglasses, a white crop top, ripped jeans and gold-heeled boots at the New York event.Greenblatt said he found his outlandish outfit "empowering," and he had plenty of competition from revelers stripping down to the barest of essentials and celebrating New York's legalization of toplessness for women. One woman wore a skintight rainbow dress with a rainbow afro about 2 feet (60 cm) high. A shirtless man sporting rainbow-colored wings and high white platform shoes strutted up Broadway. Rainbow onesie leotards were popular, and there were plenty of colorful wigs, patent leather, fishnets and bright makeup. The festivities were set to conclude on Sunday night with closing ceremonies at Times Square and a waterfront concert by Madonna. Story continues ANTI-CORPORATE DISSIDENTS The world's marquee gay pride parade was preceded on Sunday by a protest march by thousands of anti-corporate dissidents who rejected a uniformed police presence and commercial sponsorship, while demanding LGBTQ equality. The Queer Liberation March aimed to call attention to the killing of black trans women, protest U.S. detentions of migrant children and oppose actions by U.S. President Donald Trump's administration to curtail the rights of lesbian, gay, bisexual, transgender and other queer people. In San Francisco, companies such as Alphabet Inc's Google, Facebook Inc, T-Mobile and Netflix Inc lent the parade a corporate flavor. Dissidents opposing corporate sponsorship blocked an intersection of the parade route, shouting: "Stonewall was a riot." "The system of policing upholds white supremacy, heteropatriarchy, gender binaries and capitalist rule," one San Francisco protester said over a megaphone. Some during the events also paused to consider the state of LGBTQ rights under Trump, who has banned transgender people in the military, cut HIV/AIDS research and supported so-called religious freedom initiatives to curb LGBTQ protections. The White House says Trump has long advocated LGBTQ equality and noted that he backed a global campaign to decriminalize homosexuality. "They could turn back gay marriage. Don't ever fool yourself," said Christopher Edward Andrew, 53. "Elections matter. Votes matter." The U.S. Supreme Court legalized gay marriage in a landmark ruling in 2015. In the early morning hours of June 28, 1969, police raided New York's Stonewall Inn, ostensibly to shut down a Mafia-owned establishment selling watered-down liquor without a license. But the raid followed a series of others at gay bars in the Greenwich Village neighborhood, and the patrons fought back, forcing police to barricade themselves inside. That touched off several nights of riots and the birth of a movement. New York was designated the site of World Pride this year, drawing an estimated 4 million people to the city, where straight allies joined LGBTQ people in defending civil rights. Mary Glasspool, assistant bishop of the New York Diocese of the U.S. Episcopal Church, said all its churches in Manhattan opened their doors for visitors from across the world. "We want to show them this is a safe space and God loves everyone," Glasspool said. "Today, it is about love." (Reporting by Maria Caspani and Matthew Lavietes; Additional reporting by Richard Leong and Dan Fastenberg in New York and Emmett Berg in San Francisco; Writing by Daniel Trotta; Editing by Phil Berlowitz and Peter Cooney)
|
'Being someones daughter' not a 'qualification': Ocasio-Cortez slams Ivanka Trump's diplomatic role
Rep. Alexandria Ocasio-Cortez sharply criticized Ivanka Trump's suitability as a U.S. diplomatic representative at last week's G-20 summit in Osaka, Japan , saying on social media that simply being the president's daughter does not make her qualified for the role. "It may be shocking to some, but being someones daughter actually isnt a career qualification," the freshman Democratic congresswoman from New York said in a tweet on Saturday night. "It hurts our diplomatic standing when the President phones it in & the world moves on. The US needs our President working the G20. Bringing a qualified diplomat couldnt hurt either," she added. Ocasio-Cortez's post included a link to a tweet featuring a viral video clip which has more than 9 million views of President Donald Trump's oldest daughter, and White House adviser, participating in a conversation with French President Emmanuel Macron, British Prime Minister Theresa May, Canadian Prime Minister Justin Trudeau and the director of the International Monetary Fund's director, Christine Lagarde. At G20, Trump tells Putin playfully: 'Don't meddle in the election.' Putin laughs New strategy?: Trump criticized Kamala Harris at the G20, breaking a silence More: Donald Trump's future depends in part on Xi Jinping, Vladimir Putin, and Kim Jong Un It may be shocking to some, but being someones daughter actually isnt a career qualification. It hurts our diplomatic standing when the President phones it in & the world moves on. The US needs our President working the G20. Bringing a qualified diplomat couldnt hurt either. https://t.co/KCZMXJ8FD9 Alexandria Ocasio-Cortez (@AOC) June 30, 2019 The context of the 19-second video clip that was published on the official Instagram account of the French presidential palace is not provided, and the sound quality leaves some of the dialogue unintelligible. But it shows Macron making a comment about "social justice" to which Ivanka Trump nods and expresses agreement. Story continues "As soon as you begin talking about the economic aspect of it, though, a lot of people start listening who otherwise wouldn't listen," May says. "Yeah," Trump agrees. "And the same with the defense side of it," which she says is "male-dominated." Many Twitter users characterized the attempts by the president's daughters to join the conversation as embarrassing. A number of commentators noted an apparent eye roll from Lagarde as Ivanka Trump spoke. THIS VIDEO: The reaction from @Lagarde when @IvankaTrump tries to interject herself into a sideline conversation with world leaders (including @EmmanuelMacron , @JustinTrudeau & @theresa_may ) is quite something. pic.twitter.com/4jPqDxuR1r Kenneth P. Vogel (@kenvogel) June 30, 2019 Chair of IMF Christine Lagarde reaction to Ivanka Trump is everything..... #StayInYourLane #G20 pic.twitter.com/kAg2TX48Ov Dee (@dalkey04) June 29, 2019 "Your thoughts on this video, @IvankaTrump? Your thoughts on the French government releasing it for the world to see?" tweeted actress and liberal activist Alyssa Milano. Your thoughts on this video, @IvankaTrump ? Your thoughts on the French government releasing it for the world to see? https://t.co/7yijI76qSs Alyssa Milano (@Alyssa_Milano) June 30, 2019 Ivanka Trumps conversation with G20 leaders pic.twitter.com/atL50POrB7 CleWest (@erjmanlasvegas) June 30, 2019 Just imagine being Angela Merkel or Christine LaGarde, having worked your whole life on the most complex geopolitical issues of the day, being forced to wince and smile as Ivanka Trump thinks she's got something to say to you re: same. I can't imagine how they stay polite. Elizabeth C. McLaughlin (@ECMcLaughlin) June 30, 2019 Ivanka Trump at the G20 like: pic.twitter.com/zWXzyEkrxX D S (@dimplodocus) June 30, 2019 Edward Luce, a columnist for the Financial Times , wrote that Ivanka Trump "inserting herself into an awkward circle of world leaders" will be the "abiding image" of the G-20 summit. He noted the "varying expressions of tortured politeness" displayed by the European political figures as Ivanka Trump spoke, and said that "Lagarde, in particular, was unable to conceal her irritation." "Americas self-named 'First Daughter' is rarely out of the frame at global summits. Other Trump officials are almost invisible compared with Ms Trump, and her husband, Jared Kushner, the only two White House players who are thought to be immune from Mr Trumps trademark phrase: 'Youre fired," Luce wrote. Some of Ivanka Trump's defenders pushed back against Ocasio-Cortez's criticism. They said it was ironic that Ocasio-Cortez, a bartender and the youngest woman ever elected to Congress, was criticizing someone as being unqualified. College professor Oliver McGee, a frequent guest on Fox News, accused Ocasio-Cortez of "jealousy" for Ivanka Trump's place "on the world stage" and called her criticism "petty & classless." "Diplomat Ivanka is savvy in business & politics to dialogue with world leaders! Being a bartender is NOT a savvy qualification for Congress," McGee tweeted. . @AOC , your jealousy of @IvankaTrump on the world stage shows as petty & classless! @POTUS @realDonaldTrump @WhiteHouse diplomat Ivanka is savvy in business & politics to dialogue with world leaders! Being a bartender is NOT a savvy qualification for Congress @RepAOC ! Retweet! pic.twitter.com/VOMQe9Fr6T Oliver McGee PhD MBA (@OliverMcGee) June 30, 2019 "Imagine lacking this much self-awareness. The bartender turned Congresswoman, called someone unqualified," the Students for Trump Twitter account replied to Ocasio-Cortez's post. "She didnt 'turn' Congresswoman," another Twitter user replied to Students for Trump's criticism. "She campaigned, beat an entrenched politician, and she did it with grit and a vision. You may not like her views, but nothing was handed to her ... unlike Ivanka." This article originally appeared on USA TODAY: 'Being someones daughter' not a 'qualification': Ocasio-Cortez slams Ivanka Trump's diplomatic role
|
Fox host Tucker Carlson defends North Korean regime: ‘Leading a country means killing people’
Tucker Carlson has appeared to downplay North Korean leader Kim Jong-un’s human rights abuses, by saying that leading a country “means killing people”. The controversial commentator was asked about Donald Trump’s close relationship with the dictator. He was also pressed on Kim Jong-un’s human rights abuses during the segment. “There’s no defending the North Korean regime, it’s the last really Stalinist regime in the world,” Mr Carlson said during the phone interview on Fox News . “It’s a disgusting place obviously, so there’s no defending it. On the other hand, you know you’ve got to be honest about what it means to lead a country; it means killing people. “Not on the scale the North Koreans do,” Mr Carlson added “but a lot of countries commit atrocities, including a number that we’re closely allied with.” “I’m not a relativist or anything but it’s important to be honest about that.” The right-wing presenter accompanied Mr Trump to the demilitarised zone between the two Koreas on Sunday, for a meeting with Kim Jong-un. He defended Donald Trump’s closeness with the dictator, despite the president’s behaviour drawing criticism from US politicians and commentators. “It’s not necessarily a choice between the evil people and the brave people,” Mr Carlson said. “It’s a choice, most of the time, between the bad people and the worse people.” The presenter praised Mr Trump, who he said was “far less sentimental about this stuff and maybe I think..more realistic about it. Mr Carlson described the international attitude towards Kim Jon Un as “a kind of dorm room [stance]: ‘oh they’re so mean!’” The commentator dismissed such attitudes as “kind of silly and stupid and not helpful”. “In the end what maters is what’s good for the United States and you deal with bad people a lot of the time in order to help your own country,” he said. A South Korean rights group identified hundreds of sites earlier this month, which were allegedly used by North Korea for public executions and extra judicial killings. Story continues Kim Jong-un is believed to use death by firing squad to instil fear into North Korean citizens. Donald Trump became the first sitting US president to enter North Korea on Saturday, stepping over the demilitarised zone to shake hands with Kim Jong-un. Calling it a “great day for the world”, the 73-year-old said he would invite his counterpart to the White House, and also claimed Washington and Pyongyang would resume stalled nuclear talks within weeks.
|
Tomi Lahren Engaged to Boyfriend Brandon Fricke: 'I Guess You're Stuck with Me'
Conservative commentator Tomi Lahren is set to tie the knot. The Fox Nation host, 26, announced her engagement to boyfriend Brandon Fricke on Sunday, sharing a photo of her new diamond ring on Instagram in a smiling selfie. “I love you more and those are my Final Thoughts and you are my forever. 6/29/19 #iloveyou #teamTomi #foreverandalways,” she captioned the post. Lahren included three photos from the proposal, including one of her kissing her new fiancé, 30, with the New York City skyline in the background. The couple had been spending time in the Big Apple, with Lahren saying in a video Saturday they’d tried to make their way through Central Park, but had given in to the soaring temperatures, and taken refuge in a restaurant to eat chips and guacamole instead. The bride-to-be later shared several romantic photos of the pair smiling outside on what appeared to be a bridge. “I guess you’re stuck with me @bfricketion,” she wrote atop a boomerang video that featured her holding up her engagement ring. View this post on Instagram I love you more and those are my Final Thoughts and you are my forever. 6/29/19 #Iloveyou #teamTomi #foreverandalways A post shared by Tomi Lahren (@tomilahren) on Jun 30, 2019 at 8:48am PDT Fricke, meanwhile, shared a photo of Lahren showing off her ring to Instagram, writing, “I think it’s safe to say NYC was a success! She said yes!” RELATED: Love Is in the Air: All of the Celebrity Engagements of 2019 Brandon Fricke/Instagram The Never Play Dead author and Fricke, a former college football player for Central Michigan University who, according to his LinkedIn profile, now works as an NFL contract advisor, have been linked since June 2018. Fricke wrote on Instagram in March that he first sent her a direct message on the social media platform in March 2017 urging her to “stay strong” after she was criticized by Glenn Beck. He also invited Lahren to dinner, though she never responded. RELATED: Tomi Lahren Addresses Cardi B’s Threat to ‘Dog-Walk’ Her: ‘I Would Never Get Away with That’ Fricke said that the two eventually met in person nine months later and he “made the most out of that chance opportunity.” Story continues View this post on Instagram Outside of @tomilahren I think maybe five people might know that two years ago I sent her a DM on the 20th of March saying “stay strong, stay true to yourself, and don’t apologize for your views. Glenn Beck is an irrelevant hack who has been way over his head for years now. You are a star for common sense conservatives in this country.” You can see I also invited her to dinner in LA if she was ever here haha...she never saw it/never responded and while I like to give her crap that she didn’t respond to me I think it’s an important lesson that life doesn’t happen on social media...I was fortunate enough to meet her in person 9 months later and I made the most out of that chance opportunity. Here we are are two years later after that DM and she is my real life #WCW in all honesty I feel like a total loser for ever sending her that DM because after really knowing Tomi it was never a question that she wasn’t going to stay strong, stay true to herself, and never apologize for being right. Your strength and perseverance are an inspiration to me everyday. ❤️ A post shared by Brandon Fricke (@bfricketion) on Mar 20, 2019 at 8:02am PDT “Here we are two years later after that DM and she is my real life #WCW in all honesty I feel like a total loser for ever sending her that DM because really knowing Tomi it was never a question that she wasn’t going to stay strong, stay true to herself, and never apologize for being right,” he wrote. “Your strength and perseverance are an inspiration to me everyday. ❤️” Lahren, meanwhile, celebrated his 30th birthday in March, writing on Instagram, “I can’t wait to grow old with you and I’m glad you’ll always have a head start. I’ll be sure to remind you, daily. Xoxo.”
|
The new and improved Gay Street sign is all over NYC Pride Twitter
This year the New York City Pride March marks 50 years since the Stonewall Riot, and the parade is bigger and more colorful than ever. As the march makes its way to Greenwich Village, one street sign in particular is popping up on social media as a symbol of 2019's much-needed focus on inclusion in the queer community. It's pure coincidence that Gay Street intersects with Christopher Street right near the Stonewall Inn — the "Gay" of Gay Street is a family name — but its location on the parade route makes it prime real estate for a statement on what pride means in 2019. Take a look: The famous Gay Street sign, representing a wide spectrum of gender expression. Near Christopher Park in Greenwich Village, #NYCPride pic.twitter.com/8vTUJKsr50 — ken ┬┴┬┴┤(･_├┬┴┬┴ (@kensadahiro) June 29, 2019 The sign was one of many changes made around the city to celebrate Pride Month. For the LGBT folks in the city today, I hope you all know that New York City will always stand with you. Enjoy #PrideNYC today!!!! 👊🏽 pic.twitter.com/FKpz1tEXQx — Craig Anderson (@canderson1989) June 30, 2019 The temporary changes to the Gay Street sign were part of an "Acceptance Matters" campaign by MasterCard, which raises questions about the place of corporations in New York's Pride Month celebrations. This particular installation seems to be popular on social media, however, for its reminder that every element of the LGBTQIA+ community deserves to feel proud of their identity. WATCH: 'History repeats itself': LGBTQ elders discuss how Stonewall impacted their organizing during the AIDS crisis Uploads%252fvideo uploaders%252fdistribution thumb%252fimage%252f91806%252f81bd49b5 3941 4b93 9427 8efe8a0188da.jpg%252foriginal.jpg?signature=smu0ro8werstw gyxtaqwqpma i=&source=https%3a%2f%2fblueprint api production.s3.amazonaws
|
Palestinians Are Not Buying What Jared Kushner Is Selling
As White House senior adviser Jared Kushner rolled out the first stage of a long-awaited Middle East peace plan in Bahrain last week, Palestinian store owner Abdul Al-Mohtaseb was serving cardamon coffee outside his shop in Hebron, the largest city in the occupied West Bank. Al-Mohtaseb’s store sells sodas, ceramics, traditional fabrics, and tote bags printed with the images British artist Banksy graffitied on the separation barrier meant to divide Israelis from Palestinians in the West Bank. It also occupies prime real estate, overlooking the sacred site where both Muslims and Jews believe Abraham, the “father of the faithful” is buried. The 58-year-old told TIME on June 26 that settlers backed by an Australian mining magnate once offered $100million for his store and adjoining house. He turned it down, he says. “They called me crazy Abdul.” Kushner too believes monetary incentives can appeal to Palestinians in the occupied territories, judging by the first glimpse at his proposal to resolve the intractable Israeli-Palestinian conflict. At the “Peace to Prosperity Workshop” in Manama on June 25-26, President Donald Trump’s son-in-law called on private investors from the Gulf and other countries to raise as much as $50 billion over ten years for infrastructure and development projects, including a a transportation link between the Gaza Strip and the West Bank. “Today is not about political solutions — we will get to them later,” Kushner said. But the West Bank’s Ramallah-based leadership boycotted the event, and in a June 27 interview with TIME one of its most senior diplomats called the summit a “conspiracy” aimed at furthering the ambitions of Israelis who would annex the West Bank completely. Kushner’s plan “puts the economic cart before the political horse,” said Husam Zomlot, head of the Palestinian Mission to the U.K, and is “not meant to work.” Instead it is designed “to kill time for Israel to finish off the swallowing and annexing off what is left of the Palestinian occupied territories, while blaming the Palestinians for not riding a dead political horse.” Story continues Before his U.K assignment, Ambassador Zomlot had served as head of the Palestinian Liberation Organization (PLO) delegation to the United States. But Trump closed the Washington liaison office in September 2018. The White House has moved the U.S. embassy to Jerusalem, cut funding to Palestinian refugees, and signed a proclamation recognizing Israeli sovereignty over the Golan Heights—a rocky plateau that the rest of the international community considers part of Southwestern Syria. “All the carrots were taken away and given to Israel. The only stick that is used is against us, the Palestinians,” says Zomlot. Rather than presenting a viable plan for peace, he claims, the Bahrain conference was an opportunity to gift Israel another carrot: normalization of its relations with the Arab world. While neither Israeli nor Palestinian officials attended, state representatives of Egypt, Jordan, Morocco and Gulf countries were present. Bahrain granted Israeli journalists—and at least five rabbis—unprecedented permission to visit the tiny Gulf Kingdom. Trump’s senior advisor calls his plan a novel approach to resolving the decades-long conflict, and it succeeded in bringing some powerful international actors to Manama. Attendees at the conference included IMF managing director Christine Lagarde, SoftBank chief Masayoshi Son and former British Prime Minister Tony Blair. But also present were an array of real estate developers, bankers, and PR executives, many of whom with no ties to the conflict. Media reports in Bahrain described a smorgasbord of panel discussions in which speakers compared Gaza to a “hot IP” , and a TED talk-style presentation from the president of world soccer governing body FIFA that advised on how the sport could help Arabs improve their image. Kushner reportedly delivered a speech in which he envisaged the impoverished Gaza Strip as a tourist destination, omitting mention of Israel and Egypt’s 12-year blockade of the Hamas-controlled territory, as well as Israel’s 52-year-long occupation of the West Bank, which restricts trade and labor movements. During a live interview at the TIME 100 summit in April, Kushner said past attempts at resolving the conflict started with a process and then tried to arrive at a solution. Instead, “we started with a solution and then we’ll work on a process to try to get there.” But that solution remains unclear. Embattled Israeli Prime Minister Benjamin Netanyahu’s call for early elections last year delayed the unveiling of the full plan, which Kushner told TIME in April would be released after the Muslim holy month of Ramadan. But following Netanyahu’s failure to form a government last month, it is now not expected until at least the fall, after Israelis have taken to the polls again and whoever is elected forms a new government. The role of Arab countries would be key to any potential peace plan, and the GCC has expanded its friendship with Israel in recent months. Secretive military cooperation between Israel and some Arab countries dates back to the 1960s, and Israel established open relations with Qatar and Oman during the Oslo talks. But the current detente, largely driven by shared opposition to Iran, is “the closest and the most open relationship under what’s possible in these circumstances,” says Ehud Eiran, a political science expert at Israel’s University of Haifa. In the run up to Bahrain, Arab leaders reiterated their commitment to a two state solution where the Palestinians would have an independent state. According to polling by the Jerusalem-based Israel Democracy Institute (IDI) about half of Israelis also support a two-state solution. But that support is coupled with a “deep skepticism about whether there’s any tangible prospect for that to take place,” says IDI President Yohanan Plesner. While Netanyahu bears some responsibility, Plesner says, the skepticism is enforced by the failure of past peace talks, the bloodshed of the Second Intifada, Hamas turning Gaza into a failed state and attacking Israeli civilians, and the “continued levels of incitement” from the Ramallah-based Palestinian leadership. Kushner, in an June 26 interview with CNN, refused to say whether the U.S. still supports a two state solution. Whenever his full peace plan is revealed, he is likely to find positions on every side are set in stone. Opposite Hebron’s ancient religious site, Al-Mohtaseb tells TIME that six generations of his family have lived in his house, which dates back about 350 years. He was nine when Israel took over the West Bank and while he has no problem living side by side with Jewish people “in equality” he stands by his decision not to sell to settlers. “You can buy a car, a horse, a donkey,” he says, “But you can’t buy a person who has honor.”
|
Litecoin Falls 10% In Selloff
Investing.com - Litecoin was trading at $121.671 by 18:50 (22:50 GMT) on the Investing.com Index on Sunday, down 10.01% on the day. It was the largest one-day percentage loss since June 27.
The move downwards pushed Litecoin's market cap down to $7.654B, or 2.39% of the total cryptocurrency market cap. At its highest, Litecoin's market cap was $14.099B.
Litecoin had traded in a range of $121.249 to $136.990 in the previous twenty-four hours.
Over the past seven days, Litecoin has seen a drop in value, as it lost 11.05%. The volume of Litecoin traded in the twenty-four hours to time of writing was $5.414B or 6.34% of the total volume of all cryptocurrencies. It has traded in a range of $111.8205 to $138.3778 in the past 7 days.
At its current price, Litecoin is still down 71.03% from its all-time high of $420.00 set on December 12, 2017.
Bitcoin was last at $11,043.3 on the Investing.com Index, down 9.17% on the day.
Ethereum was trading at $293.87 on the Investing.com Index, a loss of 7.13%.
Bitcoin's market cap was last at $197.126B or 61.66% of the total cryptocurrency market cap, while Ethereum's market cap totaled $31.372B or 9.81% of the total cryptocurrency market value.
Related Articles
EOS Falls 10% In Selloff
Bitcoin Falls 10% In Selloff
Cryptocurrency Mobile App Downloads Stall Amid Price Surge: Report
|
Bitcoin Falls 10% In Selloff
Investing.com - Bitcoin was trading at $10,942.2 by 18:53 (22:53 GMT) on the Investing.com Index on Sunday, down 10.18% on the day. It was the largest one-day percentage loss since June 27.
The move downwards pushed Bitcoin's market cap down to $196.7B, or 61.52% of the total cryptocurrency market cap. At its highest, Bitcoin's market cap was $241.2B.
Bitcoin had traded in a range of $10,942.1 to $12,179.3 in the previous twenty-four hours.
Over the past seven days, Bitcoin has seen a rise in value, as it gained 2.22%. The volume of Bitcoin traded in the twenty-four hours to time of writing was $26.9B or 31.51% of the total volume of all cryptocurrencies. It has traded in a range of $10,493.4668 to $13,929.8066 in the past 7 days.
At its current price, Bitcoin is still down 44.93% from its all-time high of $19,870.62 set on December 17, 2017.
Ethereum was last at $292.82 on the Investing.com Index, down 7.52% on the day.
XRP was trading at $0.39805 on the Investing.com Index, a loss of 6.68%.
Ethereum's market cap was last at $31.3B or 9.78% of the total cryptocurrency market cap, while XRP's market cap totaled $17.0B or 5.32% of the total cryptocurrency market value.
Related Articles
EOS Falls 10% In Selloff
Litecoin Falls 10% In Selloff
Cryptocurrency Mobile App Downloads Stall Amid Price Surge: Report
|
Love Island: What is Casa Amor and who is going to be there?
Thursday evening's episode of Love Island treated fans of the reality show to an exciting revelation – that Casa Amor is due to make its highly-anticipated return. Those who have never watched the ITV2 programme before may be confused as to what this second Spanish villa is. First introduced as a surprise twist in the third series of Love Island in 2017, Casa Amor is situated a short distance away from the villa in which the islanders have been living for the past three weeks. During Friday evening's episode, the female islanders will be sent to Casa Amor for a "mini break", while the male islanders stay behind in the current villa. Both sets of islanders will then be joined by a group of new contestants, in a bid to test the connections they've forged on the show so far. Amber, Anna and Amy check out the Casa Amor bedroom (ITV) The female islanders will be joined by six new male contestants, while the male islanders will be joined by six new female contestants. The new contestants include Ovie Soko, a professional basketball player; Joanna Chimonides, a recruitment consultant; George Rains, a builder; and Lavena Back, a business developer. This year marks the first time that the female islanders have been sent to Casa Amor, as for the past two years the male islanders have been the ones granted a change of scenery. Several Love Island fans expressed their excitement over the return of Casa Amor. "I have never been more nervous but excited before in my life... it's Casa Amor daaaay," one person tweeted . "I'm so excited for the Casa Amor because we finally get to see who the total liars are and who the genuine people are!" another viewer commented . So bloody excited for Casa Amor #loveisland pic.twitter.com/JIjoTC0djC — Ella (@whimsicella) June 27, 2019 Actually quite alarming how excited I am for casa amor tonight #loveisland — Chanelle Stevenson (@SChanelleRose) June 28, 2019 I’m more excited for casa amor than anything that’s ever happened in my life #loveisland — bethany🦋 (@beffygillespie) June 27, 2019 To find out where you can find all the islanders on Instagram, including the new contestants joining the show tonight, click here . For all the latest Love Island news, click here .
|
Innovator Announces New Caps for July Series of S&P 500 Buffer ETFs
• ETFs provide exposure to the S&P 500 with downside buffer levels of 9%, 15%, or 30% over an Outcome Period of approximately one year
• ETFs reset annually, and may be held indefinitely
CHICAGO, IL / ACCESSWIRE / June 30, 2019 /Innovator Capital Management, LLC(Innovator) announced today the successful completion of the first outcome period for the July Series of Innovator S&P 500 Buffer ETFs, which began trading in August 2018.
The July Series of S&P 500 Buffer ETFs resets on July 1, 2019, based on the current level for the S&P Price Return Index, with new upside caps and downside buffers for the next one year outcome period which concludes on June 30, 2020.
"We are very pleased with the performance of the first three S&P 500 Buffer ETFs during their initial Outcome Period," said Bruce Bond, CEO of Innovator Capital Management. "Our inaugural series of Defined Outcome ETFs did exactly what we expected them to do-ending the outcome period in line with the return of S&P 500 Price Return Index, with about half the volatility, and with significantly lower drawdowns along the way."
August 2018 marked the first time that investors were able to access structured outcomes through the ETF vehicle.
The perpetual nature of Innovator's Defined Outcome ETFs allows investors the opportunity to own the July Buffer ETF Series with fresh buffers and new upside caps which reset each year (caps depicted below).
Return profiles for the July Series ofInnovator S&P 500Buffer ETFs (as of 7/1/19)
[{"Ticker": "BJUL", "Name": "Innovator S&P 500Buffer ETF", "Buffer Level": "9.00%", "Cap *": "14.00% (gross)13.21% (net of management fee)", "Outcome Period": "12 months7/1/19 - 6/30/20"}, {"Ticker": "PJUL", "Name": "Innovator S&P 500Power Buffer ETF", "Buffer Level": "15.00%", "Cap *": "8.88% (gross)8.09% (net of management fee)", "Outcome Period": "12 months7/1/19 - 6/30/20"}, {"Ticker": "UJUL", "Name": "Innovator S&P 500Ultra Buffer ETF", "Buffer Level": "30.00%(-5% to -35%)", "Cap *": "8.45% (gross)7.66% (net of management fee)", "Outcome Period": "12 months7/1/19 - 6/30/20"}]
* The Caps Ranges above are shown gross and net of the S&P 500 Buffer ETFs' 0.79% management fee. "Cap" refers to the maximum potential return, before fees and expensesand any shareholder transaction fees and any extraordinary expenses,if held over the full Outcome Period. "Buffer" refers to the amount of downside protection the fund seeks to provide, before fees and expenses, over the full Outcome Period. Outcome Period is the intended length of time over which the defined outcomes are sought.Upon fund launch, the Caps can be found on a daily basis viawww.innovatoretfs.com.
Before the introduction of Innovator S&P 500 Defined Outcome Buffer ETFs, investing with downside buffers was only available through bank structured notes or certain insurance products. The successful mechanics of these ETFs further substantiate the unique value proposition Defined Outcome Buffer ETFs represent to investors by providing both upside participation in the market with measurable built-in buffers to mitigate downside risk.
TheInnovator S&P 500 Buffer ETFsmsuiteseeks to provide investors with exposure to the S&P 500 Price Return Index (S&P 500) up to a Cap, with downside buffer levels of 9%, 15%, or 30% over an Outcome Period of approximately one year. The ETFs reset annually and can be held indefinitely. Innovator S&P 500 Buffer ETFs, with over $954 million in AUM as of June 28 2019, are among the fastest growing new category of ETFs in the market today.
Upcoming Webinars
Continuing educational efforts around Defined Outcome ETF investing, Innovator will be hosting its next webinar, titled, "Implementing the Only ETFs with Built-In Buffers", on July 9, 2019 at 2pm ET. Additional information including event registration is available using the following link:http://www.innovatoretfs.com/webinars.
The Funds have characteristics unlike many other traditional investment products and may not be suitable for all investors. For more information regarding whether an investment in the Fund is right for you, please see "Investor Suitability" in the prospectus.
The Innovator Defined Outcome Suite of ETFs
S&P 500 Buffer ETFs:
Innovator S&P 500 Buffer ETFs (Cboe:BJUN,BAPR,BJUL,BOCT,BJAN):Designed to track the return of the S&P 500 (up to a predetermined Cap) while buffering investors against the first 9% of losses over the Outcome Period, before fees and expenses.
Innovator S&P 500 Power Buffer ETFs(Cboe:PJUN,PAPR,PJUL,POCT,PJAN):Designed to track the return of the S&P 500 (up to a predetermined Cap) while buffering investors against the first 15% of losses over the Outcome Period, before fees and expenses.
Innovator S&P 500 Ultra Buffer ETFs(Cboe:UJUN,UAPR,UJUL,UOCT,UJAN):Designed to track the return of the S&P 500 (up to a predetermined Cap) while buffering investors against a decline of 30% of losses over the Outcome Period, from -5% to -35%, before fees and expenses. Investors are exposed to loss between 0% and 5% and over 35% over the Outcome Period, before fees and expenses.
MSCI Emerging Markets:
Innovator MSCI Emerging Markets Power Buffer ETF (NYSE:EJUL):Designed to track the price returns of the MSCI Emerging Markets Index (up to a predetermined Cap) while buffering investors against the first 15% of losses over the Outcome Period, before fees and expenses.
MSCI EAFE:
Innovator MSCI EAFE Power Buffer ETF (NYSE:IJUL):Designed to track the price returns of the MSCI EAFE Index (up to a predetermined Cap) while buffering investors against the first 15% of losses over the Outcome Period, before fees and expenses.
About Innovator Defined Outcome ETFs
Each Innovator Defined Outcome ETFSMseeks to provide a defined exposure to a broad market index (such as the S&P 500, MSCI EAFE or MSCI EM) where the downside buffer level, upside growth potential to a Cap, and Outcome Period are all known, prior to investing.
Innovator recently began expanding its suite of S&P 500 Buffer ETFs into a monthly series to provide investors more opportunities to purchase shares as close to the beginning of their respective Outcome Periods as possible. Investors can purchase shares of a previously listed Defined Outcome Buffer ETF throughout the entire Outcome Period, obtaining a current set of defined outcome parameters, which are disclosed daily through a web tool available at:http://innovatoretfs.com/define/.
Innovator is focused on delivering defined outcome based solutions inside the benefit-rich ETF wrapper, retaining many of the features that have contributed to the success of structured products1(e.g., downside buffer levels, upside participation, defined outcome parameters), but with the added benefits of transparency, liquidity and lower costs afforded by the ETF structure.
Interim Period Shareholders
Unlike structured notes, which offer limited liquidity, Innovator Defined Outcome ETFs trade throughout the day on an exchange, like a stock. As a result, investors purchasing shares of a Fund after its launch date may achieve a different payoff profile than those who entered the Fund on day one. Innovator recognizes this as a benefit of the Funds and provides a web-based tool that allows investors to know, in real-time throughout the trading day, their potential defined outcome return profile before they invest, based on the current ETF price and the Outcome Period remaining. Innovator's web tool can be accessed athttp://www.innovatoretfs.com/define.
ETF Construction
Each Fund will hold a portfolio of custom exchange-traded FLEX Options that have varying strike prices (the price at which the option purchaser may buy or sell the security, at the expiration date), and the same expiration date (approximately one year). The layering of these FLEX Options with varying strike prices provides the mechanism for producing a Fund's desired outcome (i.e. Cap or buffer). Each Fund intends to roll options components annually, on the last business day of the month associated with each Fund.
The ETFs are subadvised by Milliman Financial Risk Management LLC (Milliman FRM), a global leader in financial risk management. Milliman FRM was also instrumental in the design of the Cboe S&P 500 Target Outcome Indexes, which the Innovator Defined Outcome ETFs are benchmarked against.
Although each Fund seeks to achieve the defined outcomes stated in its investment objective, there is no guarantee that it will do so. The returns that the Funds seek to provide do not include the costs associated with purchasing shares of the Fund and certain expenses incurred by the Fund.
About Innovator Capital Management, LLC
Innovator Capital Management, LLC is an SEC registered investment advisor (RIA) based in Wheaton, IL. Formed in 2014, the firm is currently headed by ETF visionaries Bruce Bond and John Southard, founders of one of the largest ETF providers in the world. Innovation is our hallmark and acts as a guide to our company principles. Innovator is committed to helping investors better control their financial outcomes by providing investment opportunities they never considered or thought possible. For additional information, visitwww.innovatoretfs.com.
About Milliman Financial Risk Management LLC
Milliman Financial Risk Management LLC (Milliman FRM) is a global leader in financial risk management to the retirement industry, providing investment advisory, hedging, and consulting services on over $147.6 billion in global assets as of March 31, 2019. For more information about Milliman FRM, visitwww.Milliman.com/FRM.
Media ContactBill Conboy+1 (303) 415-2290bill@bccapitalpartners.com
1Structured notes and structured annuities are financial instruments designed and created to afford investors exposure to an underlying asset through a derivative contract. It is important to note that these ETFs are not structured notes or structured annuities.
Investing involves risks.The Funds face numerous market trading risks, including active markets risk, authorized participation concentration risk, buffered loss risk, Cap change risk, capped upside return risk, correlation risk, FLEX Option counterparty risk, cyber security risk, fluctuation of net asset value risk, investment objective risk, limitations of intraday indicative value risk, liquidity risk, management risk, market maker risk, market risk, non-diversification risk, operation risk, options risk, Outcome Period risk, tax risk, trading issues risk, upside participation risk and valuation risk. Unlike mutual funds, the Funds may trade at a premium or discount to their net asset value. ETFs are bought and sold at market price and not individually redeemed from the Fund. Brokerage commissions will reduce returns.
The outcomes that a Fund seeks to provide may only be realized if you are holding shares on the first day of the Outcome Period and continue to hold them on the last day of the Outcome Period, approximately one year. If you purchase shares after the Outcome Period has begun or sell shares prior to the Outcome Period's conclusion, you may experience very different investment returns from those that a Fund seeks to provide.
These Funds are designed to provide point-to-point exposure to the price return of the S&P 500, MSCI Emerging Markets and MSCI EAFE indexes via a basket of FLEX Options. As a result, the ETFs are not expected to move directly in line with the indexes during the interim period.
FLEXOptions Risk.The Fund will utilize FLEX Options issued and guaranteed for settlement by the Options Clearing Corporation (OCC). FLEX options, are non-standard options that allow both the writer and purchaser to negotiate various terms. Terms that are negotiable include the exercise style, strike price, expiration date, as well as other feature. The Fund bears the risk that the OCC will be unable or unwilling to perform its obligations under the FLEX Options contracts. In the unlikely event that the OCC becomes insolvent or is otherwise unable to meet its settlement obligations, the Fund could suffer significant losses. Additionally, FLEX Options may be less liquid than certain other securities such as standardized options. In less liquid market for the FLEX Options, the Fund may have difficulty closing out certain FLEX Options positions at desired times and prices. The values of FLEX Options do not increase or decrease at the same rate as the reference asset and may vary due to factors other than the price of reference asset.
Fund shareholders are subject to an upside return cap (the "Cap") that represents the maximum percentage return an investor can achieve from an investment in the funds' for the Outcome Period, before fees and expenses. If the Outcome Period has begun and the Fund has increased in value to a level near to the Cap, an investor purchasing at that price has little or no ability to achieve gains but remains vulnerable to downside risks. Additionally, the Cap may rise or fall from one Outcome Period to the next. The Cap, and the Fund's position relative to it, should be considered before investing in the Fund. The Funds' website, www.innovatoretfs.com, provides important Fund information as well information relating to the potential outcomes of an investment in a Fund on a daily basis.
The Funds only seek to provide shareholders that hold shares for the entire Outcome Period with their respective buffer level againstS&P 500,MSCI Emerging Markets and MSCI EAFEPrice Index losses during the Outcome Period. You will bear allS&P 500 Price Indexlosses exceeding 9%, 15%, and 30%, respectively, and bear allMSCI Emerging Markets and MSCI EAFEPrice Index losses exceeding 15% respectively. Depending upon market conditions at the time of purchase, a shareholder that purchases shares after the Outcome Period has begun may also lose their entire investment. For instance, if the Outcome Period has begun and the Fund has decreased in value beyond the pre-determined buffer, an investor purchasing shares at that price may not benefit from the buffer. Similarly, if the Outcome Period has begun and the Fund has increased in value, an investor purchasing shares at that price may not benefit from the buffer until the Fund's value has decreased to its value at the commencement of the Outcome Period.
The ETFs referred to herein is not sponsored, endorsed, or promoted by MSCI Inc. or based upon the MSCI EAFE and MSCI Emerging Markets Indexes. MSCI Inc. bears no liability with respect to the ETFs.
MSCI, MSCI EAFE, and MSCI Emerging Markets are trademarks or service marks of MSCI Inc. or its affiliates ("Marks") and are used hereto subject to license from MSCI. All goodwill and use of Marks inures to the benefit of MSCI and its affiliates. No other use of the Marks is permitted without a license from MSCI.
Cboe Global Markets, Inc., and its affiliates do not recommend or make any representation as to possible Benefits from any securities, futures or investments, or third-party products or services. Cboe Global Markets, Inc., is not affiliated with S&P DJI, Milliman, or Innovator Capital Management. Investors should undertake their own due diligence regarding their securities, futures and investment practices.
Cboe Global Markets, Inc., and its affiliates make no warranty, expressed or implied, including, without limitation, any warranties as of merchantability, fitness for a particular purpose, accuracy, completeness or timeliness, or as to the results to be obtained by recipients of the products.
Each Fund's investment objectives, risks, charges and expenses should be considered before investing. The prospectus contains this and other important information, and may be obtained atwww.innovatoretfs.comor 800.208.5212. Read it carefully before investing.
Innovator ETFs are distributed by Foreside Fund Services, LLC.
Copyright © 2019 Innovator Capital Management, LLC.
800.208.5212
SOURCE:Innovator
View source version on accesswire.com:https://www.accesswire.com/550432/Innovator-Announces-New-Caps-for-July-Series-of-SP-500-Buffer-ETFs
|
3 Spending Habits That Are Ruining Your Chances at Retirement
Retirement is a dream many people simply cannot afford, as savings rates are depressingly low. Half of adults age 55 and over have no retirement savings whatsoever, according to the U.S. Government Accountability Office, and only 28% of American adults are considered financially healthy, researchers from the Financial Health Network found.
Of course, part of the reason why it's difficult to save is because there's simply not enough money to go around. The median income of those age 25 and over is roughly $50,000 per year, according to the U.S. Bureau of Labor Statistics. When you have a seemingly endless list of bills to pay, that money doesn't go as far as you'd like.
That said, even if you're on a tight budget, there are ways to stretch every dollar. And even if you think you have no money to save, there are a few common spending habits that may be harming your financial health.
Image source: Getty Images.
It's easy to get caught up in a sale. When you see those magical "50% off" or "buy one get one free" phrases, it's tempting to buy something simply because it's on sale. If you really need that item, then there's nothing wrong with taking advantage of a good discount. But if you're buying it now and hoping you'll use it later,you're just wasting money.
The average American spends around $450 per month on impulse purchases, according to a survey from deal-sharing platform Slickdeals. That's around $5,400 per year, or $324,000 over a lifetime. Nearly two-thirds of those who shop impulsively said they do so because they got a good deal on the item, and 40% said they have purchased something on impulse simply because they had a coupon for it.
Again, if these purchases are items you actually need, there's no harm in hunting for a deal. But unnecessary purchases could result in a lot of lost potential. If you instead put the $5,400 per year you may be spending on impulse purchases toward your savings, that money could go a long way toward retirement. Say, for instance, you save $5,400 per year in a retirement account earning a 7% annual rate of return. Over 30 years, you'd have around $510,000 stashed away.
You may justify spending money each month on "little" costs, thinking that $10 here and there surely won't hurt. But these costs can quickly add up, and before you know it, you're spending hundreds of dollars per month on "little" things.
These little things can include costs such as subscription services, takeout, a gym membership you rarely use, etc. Individually, they may not add up to very much. But combined -- especially when you consider how much you're spending over the long term -- they can make it hard to save for the future.
To figure out whether you're wasting money on these seemingly minor expenses, take a fine-tooth comb to your budget. You can either write out all your expenses the old-fashioned way oruse an app to track your spending, but the important thing is to determine exactly where all your money is going. Next, cut out any costs that are not truly necessary (or at least try to cut back). If you absolutely love dining out, for example, you don't need to eliminate it altogether -- but do try to cut back so you're not spending as much as you are now.
Even if you can save just an additional $100 per month by cutting out the little things you're wasting money on, that money can go further than you think when you invest it in your retirement fund. By saving just $100 per month earning a 7% annual return on your investments, you can accumulate around $113,000 in savings over 30 years.
When you get a bonus at work or receive your tax refund, the first thing you may want to do is splurge on a fancy vacation or that expensive new phone you don't need but really want. While there's no harm intreating yourself once in a while, make sure you're not spending at the expense of your financial future.
When saving for retirement, you may tell yourself you'll save more once you start earning more money. But then when you do start earning more money, you might convince yourself you need to spend more because you deserve it as a reward for your hard work. As your income increases, it's easy to fall into the trap of spending more simply because you have more to spend.
A quarter of U.S. households earning $150,000 or more per year are living paycheck to paycheck, according to a survey from Nielsen Global Consumer Insights, proving that money doesn't necessarily solve all your financial problems. If you're not spending your money wisely, you may end up spending more than you can afford, not leaving anything for your retirement fund.
Saving for retirement isn't easy, no matter how much money you have. But if you're unknowingly wasting money on things you don't need, these bad habits could end up costing you thousands of dollars in lost potential. However, once you're aware of the problem and start taking steps to correct it, you'll be in a much healthier financial position.
More From The Motley Fool
• Everything You Need to Know About Retirement
• Don't Retire Early Until You Do This
• The $16,728 Social Security Bonus You Can’t Afford to Miss
The Motley Fool has adisclosure policy.
|
Natural Gas Price Fundamental Weekly Forecast – El Nino Effect Not Allowing Heat to “Lock in”
Natural gas futures posted a strong performance last week, but there were no signs of real buying. The relatively impressive rally was primarily fueled by short-covering due to a surprise in this week’s government storage report and position-squaring because of extremely oversold technical conditions. Speculative buyers were also betting on the return of heat to several key areas.
Last week,August natural gassettled at $2.308, $0.139 or +6.41%.
Bullish traders are hoping for the El Nino weather effect to weaken so that the expected heat during the first week of July will linger in key demand areas. Bearish traders were not impressed by the short-term forecasts. Furthermore, their conviction is also being driven by rising production and weak cash markets.
Bespoke Weather Services said on Friday, “We do still have some impressive heat to go through in the near-term across the Midwest and East, and down in the Southeast, with the upcoming week easily the hottest we have seen so far.”
Traders are looking for widespread temperatures in the 90s but “the actual hottest days we currently see lie around the Fourth of July holiday period, mitigating some of the impact we might otherwise see if the best heat was on a typical day.”
“The El Nino state has definitely weakened, and it is no coincidence that has occurred as the pattern shifts hotter, just as we saw in May,” Bespoke said. “We don’t believe it completely dies off, however, hence our idea that the near term above normal heat should not lock in.”
According to NatGasWeather for June 28 to July 4, “Weather systems will bring showers and thunderstorms across the northern U.S. although quite warm with highs of upper 80s to lower 90s from Chicago to NYC, 70s and 80s further north. The southern and central US will be hot with highs of 90s, with 100s over the Southwest, although slightly cooler over Texas and the South early next week due to increasing showers. Overall, stronger demand due to greater coverage of 90s. Overall, demand will be moderate-high as highs of upper 80s and 90s gain in coverage.”
On Thursday, June 27 the EIA reported a 98 Bcf injection into storage inventories for the week-ending June 21. The build came within expectations, but fell well below the 104 Bcf consensus. Besides being the lightest injection of the summer so far, it also broke a streak of seven consecutive triple-digit injections. The build was also above last year’s 71 Bcf injection and the five-year 70 Bcf average.
Working gas in storage was 2,301 Bcf as of Friday, June 21, 2019, according to EIA estimates. This represents a net increase of 98 Bcf from the previous week. Stocks were 236 Bcf higher than last year at this time and 171 Bcf below the five-year average of 2.472 Bcf. At 2,301 Bcf, total working gas is within the five year historical range.
There’s heat in the forecast, but like Bespoke Weather Services indicates as long as El Nino is in effect, the heat is going to have a hard time locking in.
We could see some short-covering this week because of oversold conditions and aggressive speculative buying, but bullish traders face layers of resistance at $2.440, $2.512, $2.569 and $2.671. Since the main trend is down, fresh short-sellers could come in at every level.
The key for the bulls will be taking out the main top at $2.745. A move through this level will change the main trend to up. However, this is unlikely unless there is a lingering heat dome over key demand areas. Right now, it’s just hot.
The forecast early in the week could set the tone. Traders tend to look out 14 to 21 days. So if there is excessive heat in the forecast for mid-July then I can build a case for an extended rally. If not, any rallies will be treated as new shorting opportunities by the major players.
Looking ahead to this week’s EIA report, traders are looking for a build of about 98 Bcf.
Thisarticlewas originally posted on FX Empire
• GBP/JPY Price Forecast – British pound rallies into resistance
• AUD/USD Price Forecast – Aussie forms bearish candle
• Gold Technical Analysis – How do the Experts Trade Gold
• Silver Price Forecast – Silver markets find support
• EUR/USD Price Forecast – Euro falls yet finds support
• E-mini Dow Jones Industrial Average (YM) Futures Technical Analysis – July 1, 2019 Forecast
|
Trump-Xi summit ends, clearing Wall Street's modest expectations for trade talk progress
A cease-fire, but no definitive truce.
The conclusion of the Group of 20 summit in Japan saw President Donald Trump and Chinese President Xi Jingping agree to return to the bargaining table, preventing a new escalation in the trade war that’s likely to be greeted with a sigh of relief by addled global markets.
Along with nebulous promises of Beijing buying U.S. soybeans and America loosening the screws on China’s most important technology company, one clear outcome of the Trump-Xi confab is that$300 billion in proposed new tariffsis on the back burner for now.
Yet less clear is the fate of $200 billion in existing 25% tariffs, and whetherthey’ll ever be rescinded. Meanwhile, analysts pointed out that most of the restrictions on Chinese tech giant Huawei Technologies would remain in place—and that none of the major nettlesome trade issues have been addressed, much less resolved.
Wall Street hadanticipated a modest agreement between the two largest economiesthat would paper over tensions—and that’s just what market got.
While certainly a milestone in a long-running saga, the Trump-Xi detente fails to resolve a globe-spanning conflict, or any of the major trade issues, all of which defy easy solutions or post-summit platitudes.
“Aren't things back to where they were in early May, except that there is a higher tax on $200 bln of US imports from China, which remains in place?” asked Marc Chandler, chief market strategist at Bannockburn Global Forex, in a research note on Sunday.
Arguing that the “melodrama subsides but the capriciousness remains” given Trump’s statedpenchant for using tariffs as a policy weapon, Chandler argued that the sharply decelerating U.S. economy might have forced Trump’s hand.
“With the U.S. economy slowing as Q2 wound down, and the tariffs on China blamed in some quarters, Trump may not have been in the mood for escalation,” Chandler added.
Indeed, the G20’s conclusion gingerly sidestepped many of the critical issues at the heart of the U.S.-China trade fight. Still, the outlines of the deal did give Trump just enough to shore up his eroding political capital with American farmers, whohave been squeezed by Chinese tariffs.
“It is unclear whether the meeting involved any discussion of the underlying substantive issues,” analysts at Goldman Sachs wrote late Saturday.
“Unsurprisingly, there was no announcement of progress on any of the substantive issues at the center of US-China discussions, like technology transfer, intellectual property protections, market access, or government subsidies,” the bank said.
“This had not been expected to come out of this meeting and does not appear to have been the focus of these discussions,” Goldman added.
Treasury Secretary Steve Mnuchin recently reiterated that back in May, the two sides were“90% of the way”to a completed deal before the Chinese walked away. Yet according to some, that seemingly large percentage belied the reality of hammering out an agreement.
The Trump-Xi summit “puts the two sides back to addressing the remaining ‘10-20%’ of outstanding trade issues, but these by definition are the hardest to resolve,” wrote Michael Hirson, an analyst at Eurasia Group.
“They include issues related to China modifying key technology policies, a conversation that has become harder in the wake of the US action against Huawei which, even if reversed, has permanently strengthened China’s resolve to reduce its reliance on the US in critical areas of technology,” Hirson said.
Recently, the U.S. added Huawei, the world’s largest telecoms equipment maker, to its “Entity List,” which brands certain foreign companies as a national security risk. The designation keeps Huawei from purchasing or utilizing U.S. technology without a license.
Given mounting resistance in Congress, and especially among members of Trump’s own Republican Party, Eurasia’s Hirson said that any attempt to ease up on Huawei could prove “politically costly” for the president.
Meanwhile, a fact that’s escaped markets unsettled by the U.S.-China squabble is that bilateral trade is justone of several festering flashpointspitting the world’s two largest economies against each other, in which Huawei is merely a proxy.
“Whether the U.S. likes it or not, the economic competition with China is a critical battlefield in a much larger geopolitical struggle for global primacy in the 21st century,” John Hannah, a senior counselor at the Foundation for Defense of Democracies, a national security and foreign policy think tank, told Yahoo Finance last month.
-
Javier is an editor for Yahoo Finance. Follow Javier on Twitter:@TeflonGeek
Read the latest financial and business news from Yahoo Finance
Read more:
'Quietest in 20 years': Truckers feel chill of slowing US economy
How Trump's 'beautiful' tariffs are casting a shadow over trade policy
Trump walks back Mexico tariffs, promises relief for 'patriot farmers'
Bank of America CEO: 'We want a cashless society'
Follow Yahoo Finance onTwitter,Facebook,Instagram,Flipboard,SmartNews,LinkedIn,YouTube, andreddit.
|
The Trump trade war is far from over
Markets like theoutcome of the talksbetween President Trump and President Xi Jinping of China on June 29. The mini-deal on trade included modest concessions from both sides and an apparent halt in escalating punitive measures.
But the unsteady truce does not signal an end to Trump’s trade war with China. More tariffs could be on the table soon, rattling markets anew. A final deal might not come until 2021, after the next US presidential election. And if Trump loses that election, all bets are off.
Trump and Xi each left their meeting in Osaka, Japan with something to crow about. Trump relaxed the ban on US companies doing business with Chinese tech giant Huawei, a win for Xi. China agreed torestart purchases of US farm goods, a feather for Trump.
But they made no apparent progress on any of the thorny issues that led to the breakdown of negotiations in May.
“The temporary agreement does little to resolve the fundamental conflicts over trade issues,” Eurasia Group advised following the meeting. “We expect little break in technology and geopolitical tensions.”
As usual, Trump’s language was vague, leaving room for him to lurch in any direction in the future. Trump has threatened to impose new tariffs on $300 billion worth of consumer imports from China, as soon as early July, if there was no progress with Xi. That now seems unlikely to happen. But Trump will apparently leave in place tariffs he has already imposed on other Chinese imports. Those tariffs alreadycost the average US household $831on an annualized basis.
China’s agreement to buy more US agriculture is a break for farmers and a political lifeline for Trump, whose support among farmers hurt by his trade policy has been wavering. Trump can now portray himself as riding to the rescue of farmers, even if he’s rescuing them from the repercussions of his own action.
The relief for Huawei, however, isn’t clearly spelled out, which means Trump can change his mind at any time. With trust between the two nations and their autocratic leaders low, any backsliding on either side could rapidly undo any progress made in Japan.
Investors fatigued with the trade wars, hoping for an end, aren’t likely to get one for a long time. The dispute with China now seems destined to drift into 2020, with political calculations hanging over everything. Trump would undoubtedly love to announce a final deal in the run-up to Election Day next year and claim historic bragging rights. But there’s no reason China will be more likely to accept Trump’s demands for fundamental changes to its economy in a US election year than any other time. Many analysts think China will never grant Trump’s demands and will use the US election to its advantage, since by then Trump will need something—anything—to show for his tariffs and bluster toward China.
The truce may not even last the summer. Stefanie Miller of Sandhill Strategy thinks Trump may soon impose the new tariffs he has threatened, while showing less mercy toward Huawei than his remarks after the meeting with Xi suggest. China would then back off its pledge to buy more American agriculture, and the trade war would be back on.
“The result is likely to be a restarting of tensions and retaliatory measures at some point over the next few weeks / months,” Miller wrote to clients on June 30. “We think final resolution closer to the 2020 presidential election makes far more sense politically for President Trump.” So celebrate the truce—then hunker down.
Rick Newman is the author of four books, including “Rebounders: How Winners Pivot from Setback to Success.” Follow him on Twitter:@rickjnewman
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
Read the latest financial and business news from Yahoo Finance
Follow Yahoo Finance onTwitter,Facebook,Instagram,Flipboard,SmartNews,LinkedIn,YouTube, andreddit.
|
Kim Kardashian West Steps Out in This Kanye-Approved New Label
This weekend, Kim Kardashian Westalong with her sisters Khloe and Kourtney, and Kendall and Kylie Jennerhit the town to attend Larsa Pippens birthday party in Los Angeles, California. And while the Kardashian-Jenner clan each brought their own distinctive getups to the soirée, it was Kardashian West who did her fashion due diligence: she wore a cool, emerging label thats Kanye approved. Celebrity Sightings In Los Angeles - June 29, 2019 Photo: Getty Images The reality star and beauty mogul wore a skintight turtleneck dress in neon green by Maisie Wilen, an L.A.-based designer who studied at Parsons and cut her teeth at Yeezy, Kanye Wests line. The figure-hugging body-con silhouette is similar to those in Wilens debut collection, all focused on party dressing in splashy, euphoric prints with a sportswear twist. Kardashian West accessorized the clubby piece with a sleek top-handle bag and complementary strappy sandals in lime greena major trend from spring that clearly still has legs. See the videos. Originally Appeared on Vogue
|
Monte dei Paschi ends debt collection deal to sell 3 billion euros in bad loans
MILAN (Reuters) - Monte dei Paschi di Siena <BMPS.MI> said on Sunday it had been forced to end early a 10-year bad loan management contract so that it could have more freedom in selling off bad debts in a worsening economic environment.
Monte dei Paschi had closed a year ago the sale of its bad loan management unit, dubbed Juliet, to asset manager Quaestio Holding and credit manager Cerved <CERV.MI>, signing a 10-year contract under which it paid fees for debt collection services.
The bank said in a statement on Sunday it would pay 40 million euros as an early-termination penalty for ending the contract and then work with Juliet to pick loans to sell for up to 3 billion euros.
"The revision of the accords is aimed at the reduction of risk parameters in the context of a significant worsening of economic conditions in recent months," it said.
Monte dei Paschi said the penalty was fully offset by lower debt servicing fees in the years ahead.
(Reporting by Valentina Za; editing by David Evans)
|
Tensions between trans women and gay men boil over at Stonewall anniversary
By Matthew Lavietes NEW YORK, June 30 (Reuters) - A black transgender woman wanted to be heard, but the white men wanted to celebrate. The scene at New York City's Stonewall Inn on Saturday, as reported by multiple witnesses on social media, showed how long-simmering tensions between transgender women of color and white gay men have boiled over during the celebration of World Pride and the 50th anniversary of the Stonewall uprising. The unidentified woman wanted to address the crowd inside the Greenwich Village gay bar where patrons fought back against police harassment 50 years ago, birthing the LGBTQ movement. She arrived unannounced and disrupted a drag show, drawing an unfriendly response at first. The crowd eventually warmed and she was given the microphone and spoke for 12 minutes. "She read the names of the black trans women who died. Facts about them. Their obituaries. She called on everyone in the bar to help. I would like to say the audience was respectful, but there was quite a bit of chatter and a few jeers," witness Aspen Eberhardt, finance manager of the gay rights group PFLAG, wrote on Twitter. For many gay men, this weekend's celebration is about finally being able to live their true lives, unafraid to declare who they love and being grateful for achieving virtual equality, at least in places like Greenwich Village, where the rebellion began. But many transgender women of color, representing the T in the LGBTQ community, have seized the moment to air their grievances, such as suffering from higher levels of unemployment and homelessness as their cisgender gay and lesbian brethren. "If pride month is the only time you talk about these issues, that's probably a sign you should look into just how privileged you are," said Darya Shirvani, 19, a white Los Angeles college student. Moreover, trans women are often the target of violence. Some 65 transgender people, nearly all trans women of color, have been murdered in the United States since 2017, according to Human Rights Watch. "The trans community has not made the same progress as the cis gay community has. And I think it's important to call attention to that especially because pride was started by trans people. We've been largely abandoned by the gay rights movement," said Calamity Alexis, 19, a preschool teacher living in Brooklyn who uses both he and she pronouns. Certainly many gay white men are active in promoting transgender rights, recognizing that transgender women of color in particular suffer from discrimination in ways they did 50 years ago. Mainstream gay rights groups often make a point of standing up for trans women. Story continues "Growing up as a gay man in Texas, I found strength in that the rest of the community was there for me. And now, with where we are now, it's my responsibility to be there for the rest of the community," said Brett Donaldson, 28, a white gay man from New York. But there is still lingering resentment born out of the movement's origins. Two early pioneers of the Stonewall movement from the beginning in 1969 were transgender women of color, Marsha P. Johnson and Sylvia Rivera. But within four years, "drag queens," as they were called then, were banned from the annual gay pride parade that Johnson and Rivera helped launch. At the Trans Day of Action, a rally in New York's Washington Square Park on Friday, people shouted: "Who started this fight?" The crowd responded: "Trans women of color." Qweenb. Amor, 30, a nursing student from New Orleans and a trans Latina, said her activism on this topic was "an act of survival." "Gay men, they can assimilate. The rest of us don't have the right or the privilege to blend in. We can't blend in," Amor said. "This is what it is and we need full force from the community to stand behind us." (Reporting by Matthew Lavietes; Writing by Daniel Trotta; Editing by Lisa Shumaker) View comments
|
Former White House Officials Say President Trump 'Is Lying' Over Claims Obama Tried to Meet With Kim Jong Un
Two former high-level White House officials flatly denied President Donald Trump’s claims on Sunday that President Barack Obama repeatedly sought meetings with North Korean leader Kim Jong Un. In a joint news conference with South Korean President Moon Jae-in, President Trump claimed that his predecessor had tried to meet with Kim on multiple occasions, only to be rebuffed. “President Obama wanted to meet, and Chairman Kim would not meet him,” the President said. “The Obama administration was begging for a meeting. They were begging for meetings constantly, and Chairman Kim would not meet with him.” “Trump is lying,” tweeted Ben Rhodes, who served as Deputy National Security Adviser for Strategic Communications during the Obama administration. “I was there for all eight years. Obama never sought a meeting with Kim Jong Un. Foreign policy isn’t reality television it’s reality.” Trump is lying. I was there for all 8 years. Obama never sought a meeting with Kim Jong Un. Foreign policy isn’t reality television it’s reality. — Ben Rhodes (@brhodes) June 30, 2019 Former Director of National Intelligence James Clapper adamantly denied Trump’s statements as well. “I don’t know where he’s getting that,” said Clapper during a Sunday appearance on CNN . “In all the deliberations I participated in on North Korea during the Obama administration I can recall no instance whatever where President Obama ever indicated any interest whatsoever in meeting with Chairman Kim.” On Sunday, Trump met with Kim at the Korean demilitarized zone, which separates North and South Korea. Stepping across the border, Trump became the first sitting American President to visit North Korea’s isolated state. The two leaders met for nearly an hour, and agreed to restart talks on North Korea’s nuclear program. Story continues In a later tweet on Sunday, Rhodes further excoriated the current President, calling his foreign policy a “failure.” “Photo ops don’t get rid of nuclear weapons, carefully negotiated agreements do,” the former official wrote. Photo ops don’t get rid of nuclear weapons, carefully negotiated agreements do. Trump’s foreign policy is a failure - from NK to Iran to Venezuela. https://t.co/cpBiWPb1N0 — Ben Rhodes (@brhodes) June 30, 2019
|
Why Apple's handling of Jony Ive’s departure has investors worried
Jony Ive, Apple’s (AAPL) chief design officer and one of its most visionary figures for more than two decades,is stepping down. And the company’s long-standing dominance in technological design and innovation is suddenly in question.
“It’s a very, very significant loss. It’s the second-most significant transition for Apple after the death of Steve Jobs,” Starship Capital’s John Meyer toldYahoo Finance’s The Ticker.
Meyer, who was also one of the first 1,000 mobile app developers for the iPhone, is particularly worried about how Apple is handling the transition.
“What’s so crucial about this is not necessarily the fact that [Ive] is leaving. It’s actually the fact that Apple has decided not to fill this vacant position of chief design officer,” Meyer says. “They’re having the next-best person on the design staff actually report to Apple’s chief operating officer, which to me and many other folks in the Apple community, we see that as a pretty large concern for the company.”
Ive, who starting leading Apple’s design teams in 1996, has been instrumental in developing many of its most iconic products — including the iPhone, iPod, iMac, and MacBook Air. Ive will soon launch his own independent design firm called FromLove —locking in Apple as his first client.
The news has some questioning how well Apple is positioned to navigate such a crossroads.
“What’s going to be a key indicator to watch is around how Apple is creating completely new categories of product or software with the design work they’ve done,” according to Meyer. “I think the worry is that Apple will be following the majority of the industry, rather than ‘skating to where the puck is going’ — to use those famous words that Steve Jobs actually used back in the day.”
Critics have raised doubts about the strength of Apple’s product pipeline and innovationeven before Ive announced his departure. Apple CEO Tim Cook has strenuously pushed back against them. At the company’s annual shareholding meeting earlier this year,Cook assured investorsthat Apple is rolling the dice on future products that will “blow you away.”
But recent Apple product problems —such as a series of battery and keyboard issues for the MacBook Pro— leave people like Meyer feeling unassured. “It’s simple examples like this that I worry will happen even more with no one on the executive team at the design helm,” he says.
Watch above for more.
-
Nick Robertson is a senior producer at Yahoo Finance.
READ MORE:
• All-electric aircraft maker sees 'America First' opportunity as it wins first US customer
• Chernobyl becomes unlikely tourist hotspot after acclaimed HBO series
• Car buyers should prepare for sticker shock as trade war intensifies
|
Sophie Turner and Joe Jonas's Dog Porky Basquiat Was the Cutest Groomsman at Their Second Wedding
Joe Jonas elected eleven of his closest guy friends to stand up for him during his second wedding to Sophie Turner in France this weekend, but one groomsman in particular was light years cuter than the rest: Porky Basquiat Jonas . Porky is Joe and Sophie's dog an Alaskan Klee Kai and he traveled all the way from Los Angeles to see his famous parents tie the knot on Saturday evening, which is a pretty big deal. Wearing a mini black and white tuxedo complete with a bow tie, Porky nearly upstaged the groom in photos. Ahead of the ceremony, the couple's beloved pup was spotted posing outside Le Chateau de Tourreau with Joe and his fellow groomsmen, and his cuteness is almost too much to handle. Look at the best boy ever #TurnerIntoAJonas pic.twitter.com/ap6UHzQE3n Sophiet.fan.Belfast (@FanBelfastLeigh) June 29, 2019 View this post on Instagram All day every day #ootd #streetstyle #paps #letadoglive A post shared by Porky Basquiat (@porkybasquiatjonas) on Sep 8, 2017 at 9:43am PDT View this post on Instagram More chic than u. #engagedtofashion A post shared by Porky Basquiat (@porkybasquiatjonas) on Oct 21, 2017 at 6:21am PDT View this post on Instagram Wat up fuckers A post shared by Porky Basquiat (@porkybasquiatjonas) on Sep 2, 2017 at 9:26am PDT We can't wait to see photos!
|
Ivanka Trump Had A Super Awkward Moment At G-20 And Twitter Had A Field Day
The French government posted a video to Instagram of President Emmanuel Macron attending the G-20 summit in Japan last week and included a clip of Ivanka Trump seemingly inserting herself into a conversation with him and other world leaders. The video, which went viral by Sunday, appears to show U.S. President Donald Trump ’s oldest daughter in conversation with Macron, British Prime Minister Theresa May, Canadian Prime Minister Justin Trudeau and International Monetary Fund director Christine Lagarde ― with the latter appearing less than thrilled by the first daughter’s kibitzing. As May addresses the group, Trump can be heard agreeing and responding while Lagarde looks elsewhere, seemingly not particularly interested. Twitter users pounced on the awkward moment, focusing on Lagarde’s reaction. Others, including Rep. Alexandria Ocasio-Cortez (D-N.Y.), lambasted the U.S. president for “phoning it in” and bringing his daughter to the G-20 summit instead of “a qualified diplomat.” Ivanka: Hi guys!!! Christine Lagarde: pic.twitter.com/ivTDzUcsXk — Shannon Watts (@shannonrwatts) June 30, 2019 It may be shocking to some, but being someone’s daughter actually isn’t a career qualification. It hurts our diplomatic standing when the President phones it in & the world moves on. The US needs our President working the G20. Bringing a qualified diplomat couldn’t hurt either. https://t.co/KCZMXJ8FD9 — Alexandria Ocasio-Cortez (@AOC) June 30, 2019 This is one of the most humiliating overseas Trump regime trips for America. Trump is a danger to national security between his ass kissing to Putin, Kim Jong Un, and MbS. What every enemy country saw was weakness and that the Trump regime will welcome all attacks. Wtf w Ivanka? https://t.co/B7W6sCFTFB — Olga Lautman (@olgaNYC1211) June 30, 2019 THIS VIDEO: The reaction from @Lagarde when @IvankaTrump tries to interject herself into a sideline conversation with world leaders (including @EmmanuelMacron , @JustinTrudeau & @theresa_may ) is quite something. pic.twitter.com/4jPqDxuR1r — Kenneth P. Vogel (@kenvogel) June 30, 2019 This is brilliant. Christine Lagarde’s face as Ivanka tries to join the chat is priceless.... https://t.co/95Fq2f7R55 — Jon Sopel (@BBCJonSopel) June 30, 2019 The very reason there's a table for adults and one for children... Christine Lagarde's side eye saying all that needed to be said. https://t.co/pb3D0nLq1T — J.T Kangere 🧚🏾♀️ (@JoyTKangere) June 30, 2019 World leaders and Ivanka #IvankaTrump #G20 #Elysee pic.twitter.com/OhMSGhWYRC — Brian Iselin 🇸🇪🇦🇺 (@brianiselin67) June 30, 2019 Joining Ivanka Trump, who is designated as a White House adviser, at the summit was her husband ― a fellow White House adviser ― Jared Kushner. The couple then accompanied the White House entourage as the president traveled to the Demilitarized Zone on the Korean peninsula, set foot in North Korea and held a brief meeting with that nation’s dictator, Kim Jong Un. Love HuffPost? Become a founding member of HuffPost Plus today. This article originally appeared on HuffPost .
|
Turkey says 6 nationals held in Libya, vows to respond
ISTANBUL (AP) — Turkey said Sunday that six of its nationals were being held by a Libyan force and vowed to respond to any attacks on its vessels or interests. The Turkish Foreign Ministry said in a statement it would consider Field Marshal Khalifa Hifter's "illegal militia forces" to be "legitimate targets" if the Turks are not released. Earlier, Turkish Defense Minister Hulusi Akar said there would be "heavy" consequences to any "hostile attitude or attacks." His comments came after a spokesman for Hifter's self-styled Libyan National Army called Turkish assets in Libya "legitimate targets," accusing Turkey of helping rival militias allied with the U.N.-supported government. Hifter's forces have received aid from Egypt, the United Arab Emirates, Russia and France. Akar said Turkey was in Libya to support "regional peace and stability." His comments were carried by the official Anadolu news agency. The LNA controls much of eastern and southern Libya. In April it launched an offensive against Tripoli, where a weak, U.N.-aligned government is based. The LNA said in a brief statement that its air force targeted a Turkish drone near the Matiga airport, which is controlled by the Tripoli government. The airport said all flights were cancelled after the attack. Matiga is the only functional airport in or around the capital. Authorities in areas under Hifter's control meanwhile asked Turkish nationals to leave the country. Libya's parliament, which is based in the east and allied with Hifter's forces, barred all ministries, state institutions and banks from dealing with Turkish companies and ordered a ban on trade with Turkey. Restaurants in the eastern city of Benghazi have started to change out Turkish names to avoid reprisal. A popular restaurant in the city, where Hifter's forces are based, announced that it would change its name "in solidarity with our beloved country," referring to Libya.
|
Taylor Swift Slams Scooter Braun for 'Manipulative Bullying' After He Acquires Her Music Catalog
Taylor Swift is holding nothing back in her disdain for “manipulative” Scooter Braun upon learning that the manager has acquired her musical catalog in a $300 million sale. Swift, 29, slammed Braun, who manages stars Ariana Grande and Justin Bieber , after his Ithaca Holdings acquired Big Machine Label Group from founder Scott Borchetta, who worked with Swift from 2006 until she left Big Machine for Universal Music Group late last year. The “You Need to Calm Down” singer wrote in a Tumblr post that she had tried for years to own her own music from Big Machine, and was told that she could only do so if she signed a new contract that gave her ownership of one of her old albums for every new one she completed. “I walked away because I knew once I signed that contract, Scott Borchetta would sell the label, thereby selling me and my future,” she wrote. “I had to make the excruciating choice to leave behind my past. Music I wrote on my bedroom floor and videos I dreamed up and paid for from the money I earned playing in bars, then clubs, then arenas, then stadiums.” Swift said learning that it was Braun who had ultimately purchased her masters from Borchetta was her “worst nightmare.” Leon Bennett/FilmMagic; John Salangsang/Variety/Shutterstock Kevin Mazur/Getty Images “All I could think about was the incessant, manipulative bullying I’ve received at his hands for years,” she wrote. “Like when Kim Kardashian orchestrated an illegally recorded snippet of a phone call to be leaked and then Scooter got his two clients together to bully me online about it.” For reference, Swift included a screenshot of an August 2016 Instagram post shared by Justin Bieber . 🦋 @taylorswift13 pic.twitter.com/1iI2tCr8my — h (@halsey) June 30, 2019 For those asking, I left Scooter Braun a long time ago...I am saddened by this news, but not shocked. He is an evil person who’s only concern is his wealth and feeding his disgusting ego. I believe he is homophobic & I know from his own mouth that he is not a Swift fan. — Todrick Hall (@todrick) June 30, 2019 I feel terrible for Taylor. This is the record business at it’s most ruthless and shady. She is genuinely one of the nicest people ever and does not deserve this. She should own her work. These people are soulless. https://t.co/RoHkFumLFA — Joseph Kahn (@JosephKahn) June 30, 2019 View this post on Instagram @Taylorswift I wish I could give you a big hug right now! Thank you for speaking out about this and teaching future young artist about protecting themselves. I don’t understand the pleasure of power plays to simply hurt people! To deny you the option to own your blood, sweat and tears, especially as a young women who shared growing up in front of the world, is heartbreaking!! @yael I would love to have a mom to mom meeting in private, drink some tea and have some real talk!! XO A post shared by Mandy Teefey (@kicked2thecurbproductions) on Jun 30, 2019 at 2:26pm PDT RELATED: Kim Kardashian Seemingly Shades Taylor Swift — Again — After Claiming She’s ‘Over’ Their Feud The post featured Bieber on a Facetime call with Braun and Kanye West , who was a longtime client of Braun’s, with the caption, “Taylor swift what up.” Story continues Atop the photo, Swift circled Braun’s face in red and wrote, “This is Scooter Braun, bullying me on social media when I was at my lowest point. He’s about to own all the music I’ve ever made.” Swift continued in her letter, calling out West’s “Famous” music video , which she referred to as “revenge porn” that “strips my body naked,” as it features a nude mannequin reminiscent of Swift. RELATED: A Timeline of the Complicated Relationship Between Taylor Swift and Kim Kardashian West “Now Scooter has stripped me of my life’s work, that I wasn’t given an opportunity to buy. Essentially, my musical legacy is about to lie in the hands of someone who tried to dismantle it,” she wrote. “This is my worst case scenario. This is what happens when you sign a deal at 15 to someone for whom the term ‘loyalty’ is clearly just a contractual concept. And when that man says ‘Music has value,’ he means its value is beholden to men who had no part in creating it.” RELATED VIDEO: Kim Kardashian West Slams Taylor Swift for Drama over Kanye West ‘Famous’ Verse: ‘She Totally Approved That’ The Grammy-winning singer also expressed disappointment in Borchetta for selling to Braun, as she explained he was well aware of the pain the executive had brought her. “When I left my masters in Scott’s hands, I made peace with the fact that eventually he would sell them. Never in my worst nightmares did I imagine the buyer would be Scooter,” she wrote. “Any time Scott Borchetta has heard the words ‘Scooter Braun’ escape my lips, it was when I was either crying or trying not to. He knew what he was doing; they both did. Controlling a woman who didn’t want to be associated with them. In perpetuity. That means forever.” Swift concluded her note with a grateful shoutout to her current label for allowing her the opportunity to own any new music she creates, and with a reminder that her new album Lover hits shelves Aug. 23. She also signed off, “Sad and grossed out, Taylor,” with a broken heart emoji. Taylor Swift | Craig Barritt/Getty Images The pop star’s references to Braun, Kardashian and West come in regards to the lyric, “I made that bitch famous,” in West’s track “Famous.” Swift said publicly that the rapper never ran the words by her , and five months later, Kardashian branded Swift a “snake” and posted videos on her Snapchat of a private phone call between Swift and West, claiming the singer had approved the lyrics. The musicians were never heard discussing the specific lyric in the phone call, however, and Swift hit back at Kardashian on Instagram, doubling down on her claim that West had never told he was going to refer to her as “that bitch” in the song. Taylor Swift, Kanye West, Kim Kardashian | Kevin Mazur/WireImage “You don’t get to control someone’s emotional response to being called ‘that bitch’ in front of the entire world,” Swift wrote. “He promised to play the song for me, but he never did.” Despite the fact that no phone call in which Swift and West could be heard discussing that specific lyric was ever released, Swift went on to receive backlash from fans who doubted her claims and called her a liar. Billboard reports that Braun, 38, paid more than $300 million to acquire Big Machine Label Group. “The idea of Scott and I working together is nothing new, we’ve been talking about it since the beginning of our friendship,” Braun said in a statement to the outlet. “I reached out to him when I saw an opportunity and, after many conversations, realized our visions were aligned. He’s built a brilliant company full of iconic songs and artists. Who wouldn’t want to be a part of that? By joining together, we will create more opportunities for artists than ever before, by giving them the support and tools to go after whatever dreams they wish to pursue.” In a statement of his own, Borchetta praised Braun as having had the same “big vision brings big results” mantra since their first meeting in 2010. Reps for Braun and Big Machine Label Group did not immediately respond to PEOPLE’s request for comment.
|
Is iRobot a Buy?
iRobot(NASDAQ: IRBT)is up more than 15% so far in 2019 as of this writing, but that token snapshot certainly doesn't show the roller-coaster ride investors in the home-robotics specialist have endured. Shares are also down more than 31% from their all-time high set in April -- just before iRobot posted seeminglyunderwhelming first-quarter 2019 results.
That raises the question: Is iRobot a buy right now? Let's dig in to find out.
IMAGE SOURCE: GETTY IMAGES.
For one, consider that while iRobot's latest quarterly results technically missed analysts' expectations -- revenue growth of 9.5% fell short of Wall Street's consensus for closer to 16%, while adjusted earnings of $0.78 per share easily beat estimates for $0.59 -- iRobot was more than happy with its start to the year.
And management was quick to point out as much, noting during thesubsequent earnings conferencecall that first-quarter sell-through was "good" and -- just as they discussed in prior calls -- sets the company up for higher growth rates starting in the second quarter. As such, it reiterated its outlook for 2019 revenue to increase 17% to 20% year over year.
Enabling that accelerated growth later this year will be a trio of new robots, starting with last month's launch of the new high-end Roomba s9+ vacuum and Braava jet m6 floor-mopping robots.
Like the older Roomba i7+, introduced late last year, the former can automatically empty its own bin for weeks at a time, but also features massively increased cleaning power -- with up 40 times the suction of iRobot's massively popular 600-series Roombas -- improved 3-D sensing capabilities for better navigation, 30% wider rubber brushes, and a new square front shape for better corner cleaning. Meanwhile, the Braava jet m6 can now mop multiple rooms and larger areas relative to older models. And both robots feature a new "Linked clean" concept enabling them to team up with one another by first vacuuming, then mopping floors without input from the user.
Then later this year, iRobot will introduce its Terra robotic lawn mower -- starting in Germany and as a beta program in the U.S. -- propelling itself into the multi-billion dollar pushmower and robotic lawn mower markets.
iRobot's new Terra mower will launch later this year. IMAGE SOURCE: IROBOT
That's not to say there won't be challenges for Terra along the way. The lawnmower market is already crowded with established autonomous competitors from big brands like Husqvarna andHonda. And even then, those brands have failed to truly gain traction on a wider scale.
But iRobot isn't going outside completely unprepared. It has decades of experience building outdoor robots for the military -- though itdivested that side of the businessto focus on home robotics a few years ago -- and with its older Mirra pool-cleaning and Looj gutter-clearing bots. And in this case, iRobot hopes Terra can differentiate itself with relative ease of use; iRobot has decided to shy away from the buried wire barriers used by competitors, instead creating a unique wireless beacon system to help the Terra autonomously navigate our lawns. IRobot also reportedly developed a slew of its its ownproprietary safety mechanismsto avoid objects in the lawn -- even including difficult-to-detect objects like trampoline legs -- and to disable the blades if the robot is tilted or lifted while still enabling it to navigate difficult terrain.
Of course, arguably the biggest risk to iRobot is the possibility consumers won't embrace these expensive new products. The Braava jet m6 goes for around $500, the Roomba s9+ retails for a staggering $1,300, and the yet-to-be-priced Terra could possibly go even higher. And even if consumers love them, iRobot CFO Alison Dean has warned the new robots will initially sell at lower margins "than the cost-optimized products they are replacing," which could mean a hit to profitability while iRobot hones its production efficiency.
Investors also need to keep a close eye on global trade tensions, particularly as it relates to tariffs imposed on products manufactured in China and imported into the United States. So far iRobot has been able to successfully offset the impact of those tariffs by imposing selected price increases -- and has promised to lower prices should the tariffs be lifted altogether -- but incremental tariffs from here could change the situation quickly.
To that end, the markets are likely to rejoice after U.S. President Trump and Chinese President Xi Jinping agreed to restart trade negotiations following a successful meeting at the G-20 summit in Japan yesterday. But there's no guarantee those negotiations will ultimately be fruitful given the mercurial relationship the two leaders maintain.
As for iRobot's upcoming second-quarter report slated for July 23, 2019, most analysts are modeling a narrow $0.03-per-share profit on significantly accelerated 18.4% growth in revenue to $267.9 million. IRobot, for its part, didn't provide specific quarterly financial guidance, but management did say they expect revenue growth in the "high teens," with gross margins facing significant pressure given a combination of new product launches, supply chain diversification initiatives, and typically high promotions surrounding Mother's Day and Father's Day.
At this stage in the nascent home-robotics industry, investors shouldn't be particularly concerned that iRobot is choosing to forsake bottom-line profitability in favor of taking market share and driving top-line growth.
If the company manages to successfully do so, it could translate to a massive pop as iRobot stock rivals its recent highs.
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 Symingtonowns shares of iRobot. The Motley Fool owns shares of and recommends iRobot. The Motley Fool has adisclosure policy.
|
Kevin Durant will announce free agency on The Boardroom
Kevin Durant is using his own platform to announce his free agency news. (Photo by Ezra Shaw/Getty Images) Kevin Durant plans to announce he’ll sign with the Brooklyn Nets via the Instagram of his sports-owned business channel The Boardroom. Source: Kevin Durant will announce his free agent decision tonight on his company owned sports business network: https://t.co/ovJCDTOEMz — Adrian Wojnarowski (@wojespn) June 30, 2019 Despite rupturing his Achilles during this year’s NBA finals, Durant was still one of the league’s most sought-after free agents. Durant was entertaining offers from the Nets, Los Angeles Clippers, New York Knicks and his current team, the Golden State Warriors. The Boardroom is a six-episode docuseries on ESPN+ that discusses a wide range of sports and culture topics. Since Wojnarowski’s news broke, ESPN’s Brendan Kaminsky reported The Boardroom’s Instagram followers nearly tripled, with almost 90,000 followers at press time. View this post on Instagram A post shared by The Boardroom (@theboardroom) on Jun 29, 2019 at 7:55am PDT This past season with Golden State, Durant averaged an impressive 32.3 points and 4.9 rebounds. More from Yahoo Sports: World Cup reveals source of strength for Rapinoe, USWNT Knicks in play for big free agents but determined to build right Mets put living players in ‘In Memoriam’ montage USWNT leaves Trump, France behind, focuses on England
|
Subsets and Splits
No community queries yet
The top public SQL queries from the community will appear here once available.