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Should You Buy ARB Corporation Limited (ASX:ARB) For Its Dividend? Want to participate in ashort research study? Help shape the future of investing tools and you could win a $250 gift card! Could ARB Corporation Limited (ASX:ARB) be an attractive dividend share to own for the long haul? Investors are often drawn to strong companies with the idea of reinvesting the dividends. Yet sometimes, investors buy a popular dividend stock because of its yield, and then lose money if the company's dividend doesn't live up to expectations. A 2.1% yield is nothing to get excited about, but investors probably think the long payment history suggests ARB has some staying power. Some simple analysis can offer a lot of insights when buying a company for its dividend, and we'll go through this below. Explore this interactive chart for our latest analysis on ARB! Companies (usually) pay dividends out of their earnings. If a company is paying more than it earns, the dividend might have to be cut. Comparing dividend payments to a company's net profit after tax is a simple way of reality-checking whether a dividend is sustainable. ARB paid out 55% of its profit as dividends, over the trailing twelve month period. This is a healthy payout ratio, and while it does limit the amount of earnings that can be reinvested in the business, there is also some room to lift the payout ratio over time. We also measure dividends paid against a company's levered free cash flow, to see if enough cash was generated to cover the dividend. ARB paid out 93% of its free cash last year. Cash flows can be lumpy, but this dividend was not well covered by cash flow. While ARB's dividends were covered by the company's reported profits, free cash flow is somewhat more important, so it's not great to see that the company didn't generate enough cash to pay its dividend. Were it to repeatedly pay dividends that were not well covered by cash flow, this could be a risk to ARB's ability to maintain its dividend. Remember, you can always get a snapshot of ARB's latest financial position,by checking our visualisation of its financial health. One of the major risks of relying on dividend income, is the potential for a company to struggle financially and cut its dividend. Not only is your income cut, but the value of your investment declines as well - nasty. ARB has been paying dividends for a long time, but for the purpose of this analysis, we only examine the past 10 years of payments. During this period the dividend has been stable, which could imply the business could have relatively consistent earnings power. During the past ten-year period, the first annual payment was AU$0.15 in 2009, compared to AU$0.38 last year. This works out to be a compound annual growth rate (CAGR) of approximately 9.7% a year over that time. Companies like this, growing their dividend at a decent rate, can be very valuable over the long term, if the rate of growth can be maintained. Dividend payments have been consistent over the past few years, but we should always check if earnings per share (EPS) are growing, as this will help maintain the purchasing power of the dividend. Earnings have grown at around 3.4% a year for the past five years, which is better than seeing them shrink! 3.4% per annum is not a particularly high rate of growth, which we find curious. If the company is struggling to grow, perhaps that's why it elects to pay out more than half of its earnings to shareholders. To summarise, shareholders should always check that ARB's dividends are affordable, that its dividend payments are relatively stable, and that it has decent prospects for growing its earnings and dividend. First, we think ARB has an acceptable payout ratio, although its dividend was not well covered by cashflow. Earnings growth has been limited, but we like that the dividend payments have been fairly consistent. While we're not hugely bearish on it, overall we think there are potentially better dividend stocks than ARB out there. Earnings growth generally bodes well for the future value of company dividend payments. See if the 6 ARB analysts we track are forecasting continued growth with ourfreereport on analyst estimates for the company. If you are a dividend investor, you might also want to look at ourcurated list of dividend stocks yielding above 3%. 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 Latest: NKorea's state media calls DMZ meeting 'amazing' SEOUL, South Korea (AP) — The Latest on President Donald Trump's visit to Asia (all times local): 10 a.m. Monday North Korea's state media is describing leader Kim Jong Un's meeting with President Donald Trump at the Demilitarized Zone as "an amazing event" in the border village it notes is a symbol of the Korean Peninsula's division. The Korean Central News Agency reports that the two leaders expressed great satisfaction over the results of their talks. Also included in the state media report is a description of Kim exchanging "warm greetings" with South Korea's president, Moon Jae-in. Trump and Kim agreed to restart negotiations designed to denuclearize the Korean peninsula, a point included in the state media recap of the event. The DMZ meeting on Sunday was an unexpected addition to Trump's Asia trip. He became the first U.S. president to set foot in North Korea. ___ 1:55 a.m. Monday Democratic lawmakers in the United States, including some running for the White House, say there's little in President Donald Trump's diplomatic track to convince them that his meeting with North Korea's Kim Jong Un (gihm jung oon) may lead to a nuclear breakthrough. Trump is coming under criticism for what Democrats see as his affinity for authoritarian leaders such as Kim and they are skeptical that the Trump-Kim sit-down at the Demilitarized Zone may amount to anything more than a photo opportunity. Sen. Chuck Schumer says "dictators seem to get elevated and people who believe in democracy not." Former Obama Housing Secretary Julian Castro, a presidential candidate, wonders why Trump appears keen to raise Kim's profile when, according to Castro, Kim hasn't abided by past commitments about the North's weapons programs. And Sen. Bernie Sanders, also a 2020 candidate, says he's not opposed to sitting down with America's adversaries, but he tells ABC's "This Week" that "we need real diplomacy" and he hasn't seen that under Trump Story continues ___ 8:30 p.m. "A wonderful meeting" is how President Donald Trump is describing his get-together with North Korea's Kim Jong Un at the Demilitarized Zone between North and South Korea. As Trump was leaving South Korea and ending his four-day trip to Asia, he tweeted about becoming the first American president to set foot in North Korea. "Stood on the soil of North Korea, an important statement for all, and a great honor!" Trump said in his tweet. After their meeting Sunday, Trump announced that he and Kim had agreed to resume stalled talks on denuclearization in the coming weeks. ___ 7:15 p.m. President Donald Trump is on his way back to Washington after a four-day trip to Asia during which he became the first American president to set foot in North Korea. Trump attended the Group of 20 summit in Osaka, Japan, where he held talks with Russia's Vladimir Putin (POO'-tihn) and met with China's Xi Jinping (shee jihn-peeng). Trump and Xi decided to resume trade negotiations after talks broke down. Trump then headed to South Korea, where he turned a planned visit to the Demilitarized Zone between North and South into a surprise get-together with the North's Kim Jong Un. The two leaders crossed the demarcation dividing the Korean Peninsula. Following their longer-than-expected meeting, Trump announced that he and Kim had agreed to resume stalled talks on denuclearization in the coming weeks. ___ 6:35 p.m. President Donald Trump has addressed members of the U.S military at an American air base in Osan, just south of Seoul, South Korea, before ending his Asia trip and returning to Washington. Trump recounted the moment earlier Sunday when he stepped across the border at the demilitarized zone into North Korea and became the first sitting U.S. president to do so. He says he and North Korea's Kim Jong Un (gihm jung oon) "had a very productive meeting" there. And Trump says he tried to sell Kim on the prosperity he believes awaits North Korea if it gives up its nuclear program. During his remarks to the service members, Trump called up to the stage both U.S. Secretary of State Mike Pompeo as well as Ivanka Trump, the president's daughter and a top White House adviser. He jokingly called them "beauty and the beast." ___ 5:25 p.m. President Donald Trump says that sanctions remain on North Korea following his Sunday meeting with Kim Jong Un at the Korean Demilitarized Zone. But he appears to be leaving open the possibility of scaling them back as part of upcoming renewed negotiations, saying that: "at some point during the negotiation, things can happen." Trump is also telling reporters after bidding Kim farewell that he raised the idea of a Kim visit to Washington during their talks. Trump says he told Kim that, "at the right time, you're going to come over" and that that could be "any time he wants to do it." Trump adds that he "would certainly extend the invite" and that, "at some point" it will happen. ___ 5:15 p.m. President Donald Trump says the U.S. and North Korea have designated teams to resume stalled nuclear talks between the nations within weeks. Trump shared the news as he briefed reporters after spending about 50 minutes in talks behind closed doors with North Korean leader Kim Jong Un. Trump says he hopes the sides can reach a comprehensive deal, but says that "speed is not the object." He says: "We're not looking for speed. We're looking to get it right." ___ 5:10 p.m. What was originally supposed to be a brief exchange of pleasantries between President Donald Trump and North Korea's Kim Jong Un at the raised line of concrete marking the border between North and South has turned into private talks stretching about 50 minutes. Trump had tweeted out his last-minute invitation to Kim, suggesting the North Korean leader meet him "at the Border/DMZ just to shake his hand and say Hello(?)!" during a long-scheduled visit. Trump later said that if Kim made the trip, the two would "see each other for two minutes," adding: "That's all we can. But that will be fine. " Trump and Kim's second summit in Hanoi earlier this year ended without a deal. Trump was joined in the Freedom House conversation with Kim by his daughter and son-in-law, Ivanka Trump and Jared Kushner. ___ 5:05 a.m. President Donald Trump and North Korea's Kim Jong Un are concluding a 50-minute meeting at the Demilitarized Zone. Trump escorted Kim from "Freedom House" on the South Korean side of the zone back to the concrete line marking the border between the two nations. Trump says, "We just had a very good meeting with Chairman Kim." He adds: "This was a very legendary, very historic day." ___ 4:40 p.m. President Donald Trump's historic first steps into North Korea sparked a scuffle between reporters and North Korean security guards, with officials shoving and trying to block the press. Also roughed up in the fracas was incoming Press Secretary Stephanie Grisham, who ended up with bruises. The jostling grew especially intense as reporters tried to enter a room inside the Freedom House on the southern side of Panmunjom where Trump and North Korea's Kim Jong Un were meeting after exchanging initial handshakes on the border. North Korean guards tried to physically prevent members of the U.S. press pool from entering the room, pushing and shoving, and the Secret Service stepped in to intervene. ___ 4:25 p.m. President Donald Trump says he "was proud" to step over the demarcation line between North and South Korea, becoming the first U.S. president to enter North Korea. Trump is telling reporters as he meets with Kim Jong Un in a building named The Freedom House on the South Korean side that "the world is watching." He's also thanking Kim, saying that if the North Korean leader hadn't shown up for the meeting, the press would have made Trump look bad. Kim said he was surprised by Trump's last-minute invitation to meet at the Korean Demilitarized Zone on Sunday. But he says he hopes the meeting "can be the foundation for better things in the future." ___ 4:05 p.m. President Donald Trump is calling it a "great honor" to have become the first American president to cross the Korean Demilitarized Zone into North Korea. Trump tells reporters as he stands with North Korean leader Kim Jong Un that it "feels great" to make the historical walk as he hails his "great friendship" with Kim. Speaking through a translator, Kim commended Trump for crossing the demarcation line, which he called a "courageous and determined act" that "means that we want to bring an end to the unpleasant past." Trump also said he would invite Kim to visit the White House moments after Kim crossed the demarcation line himself and entered into South Korea. ___ 3:50 p.m. President Donald Trump and North Korea's Kim Jong Un shook hands across the border at the Korean Demilitarized Zone, in an historic photo-op as Trump seeks to make a legacy-defining nuclear deal with the North. It is the third time the two leaders have met, and the first since a failed summit on the North's nuclear program in Vietnam earlier this year. Trump briefly crossed the border into North Korea after greeting Kim. There are as yet no indications of a breakthrough in the stalled negotiations to end the North's nuclear program. ___ 3:35 p.m. President Donald Trump is meeting with several dozen troops stationed at the Korean Demilitarized Zone separating South and North Korea and telling them, "We're with you all the way." The troops include both U.S. solders as well as South Korean troops. Trump was joined by South Korean President Moon Jae-in, who is praising Trump for deciding to meet shortly with North Korea's Kim Jong Un. He's calling it "a bold decision" Trump has at times appeared to question the value of keeping U.S. troops on the Korean Peninsula in light of the U.S.-South Korea trade deficit. ___ 3:20 p.m. President Donald Trump is griping about the press not giving him sufficient credit for improved U.S. relations with North Korea as he pays an historic visit to the Korean Demilitarized Zone. Trump is telling reporters as he stands atop Observation Post Ouellette that there has been "tremendous" improvement since his first meeting with the North's leader Kim Jong Un in Singapore last year. Trump says the situation used to be marked by "tremendous danger," but that, "After our first summit, all of the danger went away." And he's chastising reporters, saying "they have no appreciation for" for changes in the North, which he's calling a "very different place." Trump has been criticized for meeting again with Kim when the North continues to test short-range missiles and has not moved forward with a pledge to denuclearize. ___ 2:58 p.m. President Donald Trump is getting his first glimpse of North Korea from an observation post in the Korean Demilitarized Zone. Trump, wearing a suit, is being shown various landmarks as he stands atop Observation Post Ouellette. It's his first stop on his first visit to the border between the North and the South, which will include another face-to-face meeting with North Korea's Kim Jong Un. His last attempted visit was thwarted by bad weather. South Korean President Moon Jae-in announced earlier Sunday that Kim had accepted Trump's tweeted invitation to meet at the heavily fortified site at the Korean border village of Panmunjom ___ 2:40 p.m. President Donald Trump is making his first visit to the Korean Demilitarized Zone ahead of a meeting with North Korea's Kim Jong Un. Trump arrived by helicopter Sunday near the Panmunjom truce village. He was also expected to visit an observation post and greet U.S. and South Korean troops. Trump told reporters at a news conference with South Korean President Moon Jae-in that he and Kim will "just shake hands quickly and say hello" at the historic meeting at the Korean border village. Trump on Saturday invited Kim to meet him at the border for a symbolic handshake. He expressed openness to briefly crossing into North Korean territory if Kim accepted. Every president since Ronald Reagan has visited the 1953 armistice line, except for George H.W. Bush, who visited as vice president.
Should We Worry About BHP Group's (ASX:BHP) P/E Ratio? Want to participate in ashort research study? Help shape the future of investing tools and you could win a $250 gift card! This article is written for those who want to get better at using price to earnings ratios (P/E ratios). We'll look at BHP Group's (ASX:BHP) P/E ratio and reflect on what it tells us about the company's share price.BHP Group has a price to earnings ratio of 17.35, based on the last twelve months. That is equivalent to an earnings yield of about 5.8%. View our latest analysis for BHP Group Theformula for P/Eis: Price to Earnings Ratio = Share Price (in reporting currency) ÷ Earnings per Share (EPS) Or for BHP Group: P/E of 17.35 = $28.86(Note: this is the share price in the reporting currency, namely, USD )÷ $1.66 (Based on the trailing twelve months to December 2018.) The higher the P/E ratio, the higher the price tag of a business, relative to its trailing earnings. That is not a good or a bad thingper se, but a high P/E does imply buyers are optimistic about the future. Generally speaking the rate of earnings growth has a profound impact on a company's P/E multiple. That's because companies that grow earnings per share quickly will rapidly increase the 'E' in the equation. That means unless the share price increases, the P/E will reduce in a few years. And as that P/E ratio drops, the company will look cheap, unless its share price increases. BHP Group's earnings made like a rocket, taking off 77% last year. Unfortunately, earnings per share are down 9.9% a year, over 5 years. We can get an indication of market expectations by looking at the P/E ratio. The image below shows that BHP Group has a higher P/E than the average (12) P/E for companies in the metals and mining industry. Its relatively high P/E ratio indicates that BHP Group shareholders think it will perform better than other companies in its industry classification. Clearly the market expects growth, but it isn't guaranteed. So investors should delve deeper. I like to checkif company insiders have been buying or selling. It's important to note that the P/E ratio considers the market capitalization, not the enterprise value. In other words, it does not consider any debt or cash that the company may have on the balance sheet. In theory, a company can lower its future P/E ratio by using cash or debt to invest in growth. Such spending might be good or bad, overall, but the key point here is that you need to look at debt to understand the P/E ratio in context. BHP Group has net debt worth just 8.0% of its market capitalization. It would probably trade on a higher P/E ratio if it had a lot of cash, but I doubt it is having a big impact. BHP Group trades on a P/E ratio of 17.4, which is above the AU market average of 15.9. 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. When the market is wrong about a stock, it gives savvy investors an opportunity. If the reality for a company is better than it expects, you can make money by buying and holding for the long term. So thisfreereport on the analyst consensus forecastscould help you make amaster moveon this stock. Of course,you might find a fantastic investment by looking at a few good candidates.So take a peek at thisfreelist of companies with modest (or no) debt, trading on a P/E below 20. 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 You Be Adding Breville Group (ASX:BRG) To Your Watchlist Today? Want to participate in ashort research study? Help shape the future of investing tools and you could win a $250 gift card! It's only natural that many investors, especially those who are new to the game, prefer to buy shares in 'sexy' stocks with a good story, even if those businesses lose money. Unfortunately, high risk investments often have little probability of ever paying off, and many investors pay a price to learn their lesson. So if you're like me, you might be more interested in profitable, growing companies, likeBreville Group(ASX:BRG). While profit is not necessarily a social good, it's easy to admire a business than can consistently produce it. In comparison, loss making companies act like a sponge for capital - but unlike such a sponge they do not always produce something when squeezed. View our latest analysis for Breville Group If a company can keep growing earnings per share (EPS) long enough, its share price will eventually follow. That means EPS growth is considered a real positive by most successful long-term investors. Breville Group managed to grow EPS by 11% per year, over three years. That's a good rate of growth, if it can be sustained. I like to take a look at earnings before interest and (EBIT) tax margins, as well as revenue growth, to get another take on the quality of the company's growth. While we note Breville Group's EBIT margins were flat over the last year, revenue grew by a solid 9.7% to AU$711m. That's a real positive. In the chart below, you can see how the company has grown earnings, and revenue, over time. To see the actual numbers, click on the chart. Of course the knack is to find stocks that have their best days in the future, not in the past. You could base your opinion on past performance, of course, but you may also want tocheck this interactive graph of professional analyst EPS forecasts for Breville Group. Like that fresh smell in the air when the rains are coming, insider buying fills me with optimistic anticipation. This view is based on the possibility that stock purchases signal bullishness on behalf of the buyer. However, insiders are sometimes wrong, and we don't know the exact thinking behind their acquisitions. Although we did see some insider selling (worth -AU$3.6k) this was overshadowed by a mountain of buying, totalling AU$1.2m in just one year. This makes me even more interested in Breville Group because it suggests that those who understand the company best, are optimistic. We also note that it was the Lead Independent Director, Lawrence Myers, who made the biggest single acquisition, paying AU$374k for shares at about AU$12.45 each. Along with the insider buying, another encouraging sign for Breville Group is that insiders, as a group, have a considerable shareholding. To be specific, they have AU$29m worth of shares. That's a lot of money, and no small incentive to work hard. Despite being just 1.4% of the company, the value of that investment is enough to show insiders have plenty riding on the venture. While insiders are apparently happy to hold and accumulate shares, that is just part of the pretty picture. The cherry on top is that the CEO, Jim Clayton is paid comparatively modestly to CEOs at similar sized companies. For companies with market capitalizations between AU$1.4b and AU$4.6b, like Breville Group, the median CEO pay is around AU$2.4m. Breville Group offered total compensation worth AU$1.7m to its CEO in the year to June 2018. That seems pretty reasonable, especially given its below the median for similar sized companies. While the level of CEO compensation isn't a huge factor in my view of the company, modest remuneration is a positive, because it suggests that the board keeps shareholder interests in mind. It can also be a sign of a culture of integrity, in a broader sense. As I already mentioned, Breville Group is a growing business, which is what I like to see. Better yet, insiders are significant shareholders, and have been buying more shares. To me, that all makes it well worth a spot on your watchlist, as well as continuing research. If you think Breville Group might suit your style as an investor, you could go straight to its annual report, or you could first checkour discounted cash flow (DCF) valuation for the company. The good news is that Breville Group is not the only growth stock with insider buying. Here'sa a list of them... with insider buying in the last three months! Please note the insider transactions discussed in this article refer to reportable transactions in the relevant jurisdiction 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.
Did Caltex Australia Limited (ASX:CTX) Insiders Buy Up More Shares? Want to participate in ashort research study? Help shape the future of investing tools and you could win a $250 gift card! We've lost count of how many times insiders have accumulated shares in a company that goes on to improve markedly. On the other hand, we'd be remiss not to mention that insider sales have been known to precede tough periods for a business. So before you buy or sellCaltex Australia Limited(ASX:CTX), you may well want to know whether insiders have been buying or selling. It is perfectly legal for company insiders, including board members, to buy and sell stock in a company. However, most countries require that the company discloses such transactions to the market. We don't think shareholders should simply follow insider transactions. But logic dictates you should pay some attention to whether insiders are buying or selling shares. For example, a Columbia Universitystudyfound that 'insiders are more likely to engage in open market purchases of their own company’s stock when the firm is about to reveal new agreements with customers and suppliers'. See our latest analysis for Caltex Australia Chairman Steven Gregg made the biggest insider purchase in the last 12 months. That single transaction was for AU$181k worth of shares at a price of AU$30.22 each. So it's clear an insider wanted to buy, even at a higher price than the current share price (being AU$24.75). It's very possible they regret the purchase, but it's more likely they are bullish about the company. In our view, the price an insider pays for shares is very important. Generally speaking, it catches our eye when insiders have purchased shares at above current prices, as it suggests they believed the shares were worth buying, even at a higher price. In the last twelve months insiders paid AU$477k for 17050 shares purchased. In the last twelve months Caltex Australia insiders were buying shares, but not selling. The chart below shows insider transactions (by individuals) over the last year. If you click on the chart, you can see all the individual transactions, including the share price, individual, and the date! Caltex Australia is not the only stock that insiders are buying. For those who like to findwinning investmentsthisfreelist of growing companies with recent insider purchasing, could be just the ticket. Over the last quarter, Caltex Australia insiders have spent a meaningful amount on shares. Specifically, MD, CEO & Director Julian Segal bought AU$100k worth of shares in that time, and we didn't record any sales whatsoever. This could be interpreted as suggesting a positive outlook. For a common shareholder, it is worth checking how many shares are held by company insiders. Usually, the higher the insider ownership, the more likely it is that insiders will be incentivised to build the company for the long term. Our data indicates that Caltex Australia insiders own about AU$11m worth of shares (which is 0.2% of the company). Whilst better than nothing, we're not overly impressed by these holdings. The recent insider purchase is heartening. And the longer term insider transactions also give us confidence. When combined with notable insider ownership, these factors suggest Caltex Australia insiders are well aligned, and that they may think the share price is too low. Of course,the future is what matters most. So if you are interested in Caltex Australia, you should check out thisfreereport on analyst forecasts for the company. Of course,you might find a fantastic investment by looking elsewhere.So take a peek at thisfreelist of interesting companies. For the purposes of this article, insiders are those individuals who report their transactions to the relevant regulatory body. 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.
Here's How We Evaluate ARB Corporation Limited's (ASX:ARB) Dividend 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 take a closer look at ARB Corporation Limited (ASX:ARB) from a dividend investor's perspective. Owning a strong business and reinvesting the dividends is widely seen as an attractive way of growing your wealth. If you are hoping to live on the income from dividends, it's important to be a lot more stringent with your investments than the average punter. A slim 2.1% yield is hard to get excited about, but the long payment history is respectable. At the right price, or with strong growth opportunities, ARB could have potential. Some simple analysis can reduce the risk of holding ARB for its dividend, and we'll focus on the most important aspects below. Click the interactive chart for our full dividend analysis Dividends are typically paid from company earnings. If a company pays more in dividends than it earned, then the dividend might become unsustainable - hardly an ideal situation. So we need to form a view on if a company's dividend is sustainable, relative to its net profit after tax. Looking at the data, we can see that 55% of ARB's profits were paid out as dividends in the last 12 months. This is a fairly normal payout ratio among most businesses. It allows a higher dividend to be paid to shareholders, but does limit the capital retained in the business - which could be good or bad. In addition to comparing dividends against profits, we should inspect whether the company generated enough cash to pay its dividend. ARB paid out 93% of its free cash last year. Cash flows can be lumpy, but this dividend was not well covered by cash flow. ARB paid out less in dividends than it reported in profits, but unfortunately it didn't generate enough free cash flow to cover the dividend. Were it to repeatedly pay dividends that were not well covered by cash flow, this could be a risk to ARB's ability to maintain its dividend. We update our data on ARB every 24 hours, so you can always getour latest analysis of its financial health, here. One of the major risks of relying on dividend income, is the potential for a company to struggle financially and cut its dividend. Not only is your income cut, but the value of your investment declines as well - nasty. ARB has been paying dividends for a long time, but for the purpose of this analysis, we only examine the past 10 years of payments. During this period the dividend has been stable, which could imply the business could have relatively consistent earnings power. During the past ten-year period, the first annual payment was AU$0.15 in 2009, compared to AU$0.38 last year. This works out to be a compound annual growth rate (CAGR) of approximately 9.7% a year over that time. Businesses that can grow their dividends at a decent rate and maintain a stable payout can generate substantial wealth for shareholders over the long term. While dividend payments have been relatively reliable, it would also be nice if earnings per share (EPS) were growing, as this is essential to maintaining the dividend's purchasing power over the long term. Earnings have grown at around 3.4% a year for the past five years, which is better than seeing them shrink! Growth of 3.4% is relatively anaemic growth, which we wonder about. When a business is not growing, it often makes more sense to pay higher dividends to shareholders rather than retain the cash with no way to utilise it. Dividend investors should always want to know if a) a company's dividends are affordable, b) if there is a track record of consistent payments, and c) if the dividend is capable of growing. First, the company has a payout ratio that was within an average range for most dividend stocks, but it paid out virtually all of its generated cash flow. Earnings growth has been limited, but we like that the dividend payments have been fairly consistent. In sum, we find it hard to get excited about ARB from a dividend perspective. It's not that we think it's a bad business; just that there are other companies that perform better on these criteria. Earnings growth generally bodes well for the future value of company dividend payments. See if the 6 ARB analysts we track are forecasting continued growth with ourfreereport on analyst estimates for the company. Looking for more high-yielding dividend ideas? Try ourcurated list of dividend stocks with a yield above 3%. 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 Crypto Daily – The Movers and Shakers 01/07/19 The Bears fought back at the end of the month. Bitcoin slid by 9.33% on Sunday. Following on from a 3.38% loss on Saturday, Bitcoin ended the week down 0.92% at $10,809. The Sunday reversal left Bitcoin up 26.7% for the month of June. Range-bound through the early hours, Bitcoin struck an early intraday high $12,234 before hitting reverse. Falling short of the first major resistance level at $12,390.33, Bitcoin slid to a late afternoon low $10,889. The sell-off saw Bitcoin fall through the first major support level at $11,397.33 and 23.6% FIB of $11,275. Coming within range of the second major support level at $10,874.67, Bitcoin recovered to $11,400 levels before sliding back. The late pullback saw Bitcoin fall through the first major support level, 23.6% FIB, and second major support level at $10,874.67 to an intraday low $10,668. The Sunday sell-off saw Bitcoin’s market cap fall back to sub-$200bn levels after having hit a June high $245.13bn on Thursday. Across the rest of the top 10 cryptos, it was a sea of red across the crypto-board. Bitcoin Cash ABC led the way down on the day, sliding by 10.4%. The rest of the majors were close behind, however. Binance Coin fell by 9.9%, with Bitcoin Cash SV falling by 9.1%. Things were not much better for Stellar’s Lumen (-8.87%), EOS (-8.85%), Litecoin (-8.4%) and Ethereum (-8.31%). The best performer on the day was Ripple’s XRP, which fell by just 7.43%. For the week, EOS led the way down, sliding by 20.76%. Bitcoin Cash SV (-18.39%), Ripple’s XRP (-16.19%), Binance Coin (-13.81%) and Litecoin (-10.68%) all saw heavy losses. Bucking the trend was Stellar’s Lumen that gained 7.19%. In spite of the weekly gain, Stellar’s Lumen ended the month of June with a 20.7% loss. Joining Stellar’s Lumen in the red for June were EOS (-32.42%), Bitcoin Cash ABC (-10.5%), Ripple’s XRP (-9.88%) and Binance Coin (-2.86%). Bucking the trend in June, alongside Bitcoin, were Ethereum (+8.6%) and Litecoin (+6.65%). The moves through Sunday sawBitcoin’s dominancefall back to 61% levels. Sunday’s reversal left the total crypto market cap at $324.83bn, down from Thursday’s high $386.7bn. In spite of the $60bn drop, the market cap remained well above $273bn levels seen at the start of the month. At the time of writing, Bitcoin was up by 1.49% to $10,970. A bullish start to the day saw Bitcoin rise from a morning low $10,641 to a high $11,123 before easing back. Bitcoin left the major support and resistance levels untested early on, while also falling short of the 23.6% FIB of $11,275. Elsewhere, it was green across the crypto-board, with Bitcoin Cash ABC and Bitcoin Cash SV leading the way. The pair were up by 3.07% and by 2.83% respectively. Bitcoin would need to move back through the morning high $11,123 to break through the 23.6% FIB to restore confidence. A move through the 23.6% FIB would bring the first major resistance level at $11,806 into play. Bitcoin would need the support of the broader market, however, to take a run at $12,000 levels. Failure to move back through the 23.6% FIB could see Bitcoin hit reverse. A fall through the morning low $10,641 would bring the first major support level at $10,240 into play. Barring another crypto meltdown, Bitcoin should steer clear of sub-$10,000 support levels. Get Into Cryptocurrency Trading Today Thisarticlewas originally posted on FX Empire • S&P 500 Price Forecast – Stock markets gap higher to kick off week • Gold Price Prediction – Gold Tumbles as Geopolitics Eases • U.S. Dollar Index Futures (DX) Technical Analysis – Trader Reaction to 96.315 to 96.540 Will Determine Near-Term Direction • The RBA Cuts Rates as Trump Talks of Tariffs on EU Goods • USD/JPY Forex Technical Analysis – July 2, 2019 Forecast • Asian Shares Mixed as Investors Seek Progress in Renewed US-China Trade Negotiations
Can We See Significant Institutional Ownership On The BlueScope Steel Limited (ASX:BSL) Share Register? Want to participate in ashort research study? Help shape the future of investing tools and you could win a $250 gift card! Every investor in BlueScope Steel Limited (ASX:BSL) should be aware of the most powerful shareholder groups. Large companies usually have institutions as shareholders, and we usually see insiders owning shares in smaller companies. Companies that used to be publicly owned tend to have lower insider ownership. With a market capitalization of AU$6.2b, BlueScope Steel is rather large. We'd expect to see institutional investors on the register. Companies of this size are usually well known to retail investors, too. In the chart below below, we can see that institutions are noticeable on the share registry. Let's delve deeper into each type of owner, to discover more about BSL. Check out our latest analysis for BlueScope Steel Institutional investors commonly compare their own returns to the returns of a commonly followed index. So they generally do consider buying larger companies that are included in the relevant benchmark index. BlueScope Steel already has institutions on the share registry. Indeed, they own 43% of the company. This implies the analysts working for those institutions have looked at the stock and they like it. But just like anyone else, they could be wrong. If multiple institutions change their view on a stock at the same time, you could see the share price drop fast. It's therefore worth looking at BlueScope Steel's earnings history, below. Of course, the future is what really matters. We note that hedge funds don't have a meaningful investment in BlueScope Steel. Quite a few analysts cover the stock, so you could look into forecast growth quite easily. While the precise definition of an insider can be subjective, almost everyone considers board members to be insiders. The company management answer to the board; and the latter should represent the interests of shareholders. Notably, sometimes top-level managers are on the board, themselves. I generally consider insider ownership to be a good thing. However, on some occasions it makes it more difficult for other shareholders to hold the board accountable for decisions. Our most recent data indicates that insiders own less than 1% of BlueScope Steel Limited. Keep in mind that it's a big company, and the insiders own AU$62m worth of shares. The absolute value might be more important than the proportional share. It is good to see board members owning shares, but it might be worth checkingif those insiders have been buying. The general public, who are mostly retail investors, collectively hold 56% of BlueScope Steel shares. This size of ownership gives retail investors collective power. They can and probably do influence decisions on executive compensation, dividend policies and proposed business acquisitions. I find it very interesting to look at who exactly owns a company. But to truly gain insight, we need to consider other information, too. I like to dive deeperinto how a company has performed in the past. You can accessthisinteractive graphof past earnings, revenue and cash flow, for free. But ultimatelyit is the future, not the past, that will determine how well the owners of this business will do. Therefore we think it advisable to take a look atthis free report showing whether analysts are predicting a brighter future. NB: Figures in this article are calculated using data from the last twelve months, which refer to the 12-month period ending on the last date of the month the financial statement is dated. This may not be consistent with full year annual report figures. 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.
How BlueScope Steel Limited (ASX:BSL) Can Impact Your Portfolio Volatility Want to participate in ashort research study? Help shape the future of investing tools and you could win a $250 gift card! If you own shares in BlueScope Steel Limited (ASX:BSL) then it's worth thinking about how it contributes to the volatility of your portfolio, overall. In finance, Beta is a measure of volatility. Volatility is considered to be a measure of risk in modern finance theory. Investors may think of volatility as falling into two main categories. First, we have company specific volatility, which is the price gyrations of an individual stock. Holding at least 8 stocks can reduce this kind of risk across a portfolio. The second sort is caused by the natural volatility of markets, overall. For example, certain macroeconomic events will impact (virtually) all stocks on the market. Some stocks mimic the volatility of the market quite closely, while others demonstrate muted, exagerrated or uncorrelated price movements. Beta is a widely used metric to measure a stock's exposure to market risk (volatility). Before we go on, it's worth noting that Warren Buffett pointed out in his 2014 letter to shareholders that 'volatility is far from synonymous with risk.' Having said that, beta can still be rather useful. The first thing to understand about beta is that the beta of the overall market is one. A stock with a beta below one is either less volatile than the market, or more volatile but not corellated with the overall market. In comparison a stock with a beta of over one tends to be move in a similar direction to the market in the long term, but with greater changes in price. See our latest analysis for BlueScope Steel Looking at the last five years, BlueScope Steel has a beta of 0.91. The fact that this is well below 1 indicates that its share price movements haven't historically been very sensitive to overall market volatility. This suggests that including it in your portfolio will reduce volatility arising from broader market movements, assuming your portfolio's weighted average beta is higher than 0.91. Many would argue that beta is useful in position sizing, but fundamental metrics such as revenue and earnings are more important overall. You can see BlueScope Steel's revenue and earnings in the image below. BlueScope Steel is a fairly large company. It has a market capitalisation of AU$6.2b, which means it is probably on the radar of most investors. It is a little unusual to see big companies like this trade on low beta values. Oftentimes there is some other clear influence on the share price, overshadowing market volatility. The BlueScope Steel doesn't usually show much sensitivity to the broader market. This could be for a variety of reasons. Typically, smaller companies have a low beta if their share price tends to move a lot due to company specific developments. Alternatively, an strong dividend payer might move less than the market because investors are valuing it for its income stream. In order to fully understand whether BSL is a good investment for you, we also need to consider important company-specific fundamentals such as BlueScope Steel’s financial health and performance track record. I highly recommend you dive deeper by considering the following: 1. Future Outlook: What are well-informed industry analysts predicting for BSL’s future growth? Take a look at ourfree research report of analyst consensusfor BSL’s outlook. 2. Past Track Record: Has BSL been consistently performing well irrespective of the ups and downs in the market? Go into more detail in the past performance analysis and take a look atthe free visual representations of BSL's historicalsfor more clarity. 3. Other Interesting Stocks: It's worth checking to see how BSL measures up against other companies on valuation. You could start with thisfree list of prospective options. 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.
Justin Bieber accuses Taylor Swift of rallying fans to 'bully' Scooter Braun, needing 'sympathy' Justin Bieber says Taylor Swift has “crossed a line” after she bashed Scooter Braun , his longtime manager and friend, on social media on Sunday. Following the news that Swift’s master recordings from her 2006 self-titled debut through to her previous album, 2017’s Reputation , would be sold to Braun, the singer-songwriter shared a post on her Tumblr page, expressing how “sad and grossed out” the news made her feel. Swift noted a sense of betrayal at her music being sold to Braun, a man she alleges perpetrated “incessant, manipulative bullying” against her for years. After first apologizing for posting a “distasteful and insensitive” Instagram diss aimed at Swift years earlier, Bieber discounted her accusations. “Scooter has had your back since the days you graciously let me open up for you!” he wrote. “As the years have passed we haven’t crossed paths and gotten to communicate our differences, hurts or frustrations. So for you to take it to social media and get people to hate on Scooter isn’t fair,” he continued. “What were you trying to accomplish by posting that blog? Seems to me like it was to get sympathy [you] also knew that in posting that your fans would go and bully Scooter.” He concluded his post by saying that he and Braun both “love” Swift, but wish she had aired her grievances offline. “I feel like the only way to resolve conflict is through communication. So banter back and forth online I dont believe solves anything,” he wrote. “I’m sure Scooter and I would love to talk to you and resolve any conflict, pain or any feelings that need to be addressed. Neither scooter or I have anything negative to say about you we truly want the best for you. I usually don’t rebuttal things like this but when you try and deface someone I love’s character that’s crossing a line.” Bieber’s wife, Hailey, replied to the post, calling her husband a “gentleman.” Story continues View this post on Instagram Hey Taylor. First of all i would like to apologize for posting that hurtful instagram post, at the time i thought it was funny but looking back it was distasteful and insensitive.. I have to be honest though it was my caption and post that I screenshoted of scooter and Kanye that said “taylor swift what up” he didnt have anything to do with it and it wasnt even a part of the conversation in all actuality he was the person who told me not to joke like that.. Scooter has had your back since the days you graciously let me open up for you.! As the years have passed we haven’t crossed paths and gotten to communicate our differences, hurts or frustrations. So for you to take it to social media and get people to hate on scooter isn’t fair. What were you trying to accomplish by posting that blog? seems to me like it was to get sympathy u also knew that in posting that your fans would go and bully scooter. Anyway, One thing i know is both scooter and i love you. I feel like the only way to resolve conflict is through communication. So banter back and fourth online i dont believe solves anything. I’m sure Scooter and i would love to talk to you and resolve any conflict, pain or or any feelings that need to be addressed. Neither scooter or i have anything negative to say about you we truly want the best for you. I usually don’t rebuttal things like this but when you try and deface someone i loves character thats crossing a line.. A post shared by Justin Bieber (@justinbieber) on Jun 30, 2019 at 2:54pm PDT The drama began earlier on Sunday when Billboard reported that Swift’s former label, Big Machine Label Group, closed a deal to be acquired by Braun’s Ithaca Holdings. Big Machine owns all of Swift’s master recordings from her 2006 to 2017 . “For years I asked, pleaded for a chance to own my work,” Swift wrote on Tumblr following the news. “Instead I was given an opportunity to sign back up to Big Machine Records and ‘earn’ one album back at a time, one for every new one I turned in. I walked away because I knew once I signed that contract, Scott Borchetta would sell the label, thereby selling me and my future. 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 she was given no advance warning of the news. “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. Or when his client, Kanye West, organized a revenge porn music video which strips my body naked. 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.” Frazer Harrison/Getty Images She went on to call out powerful men in the music industry who she claims don’t value or respect artists. “This is my worst case scenario,” she wrote. “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.” Swift also called out Scott Borchetta, the founder of Big Machine, for selling her catalog to a man he knew she had a negative history with. “When I left my masters in Scott’s hands, I made peace with the fact that eventually he would sell them,” she wrote. “Never in my worst nightmares did I imagine the buyer would be Scooter. 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.” Representatives for Braun and Big Machine did not immediately answer to EW’s request for comment, however, Big Machine did respond later on Sunday to Swift’s allegations in a lengthy blog post, which included screenshots of deal memos allegedly sent between November 2018 and June 2019. In the post, which can be read in full here , Borchetta seems to refuse Swift’s allegation that she was unable to buy back the rights to her master recordings. Braun’s wife, Yael, also pushed back on many of Swift’s complaints on Instagram. “You were given the opportunity to own your masters, you passed,” she alleged. Yael also claimed Swift was given advanced notice of the news. “Your dad is a shareholder and was notified, and Borchetta [the CEO of Big Machine] personally told you before this came out. So no, you didn’t find out with the world,” she writes. Read her full post below: View this post on Instagram @taylorswift, I’m here to talk privately anytime. A post shared by Yael Cohen Braun (@yael) on Jun 30, 2019 at 3:53pm PDT Later Sunday night, Swift’s rep refuted claims that the singer’s father is on the Big Machine board of directors and received advanced notice of the deal. “Scott Swift is not on the board of directors and has never been,” the rep told People . “On June 25, there was a shareholder phone call that Scott Swift did not participate in due to a very strict NDA that bound all shareholders and prohibited any discussion at all without risk of severe penalty.” The rep went on to explain that Taylor’s dad skipped the call so he wouldn’t have to withhold info from his daughter. “Taylor found out from the news articles when she woke up before seeing any text from Scott Borchetta and he did not call her in advance,” the rep added. Related content: Taylor Swift to headline Amazon Prime Day concert hosted by Jane Lynch Watch Taylor Swift’s star-studded ‘You Need to Calm Down’ music video
Should We Worry About CSL Limited's (ASX:CSL) P/E Ratio? Want to participate in ashort research study? Help shape the future of investing tools and you could win a $250 gift card! This article is for investors who would like to improve their understanding of price to earnings ratios (P/E ratios). To keep it practical, we'll show how CSL Limited's (ASX:CSL) P/E ratio could help you assess the value on offer.CSL has a P/E ratio of 37.84, based on the last twelve months. That corresponds to an earnings yield of approximately 2.6%. See our latest analysis for CSL Theformula for price to earningsis: Price to Earnings Ratio = Price per Share (in the reporting currency) ÷ Earnings per Share (EPS) Or for CSL: P/E of 37.84 = $150.75(Note: this is the share price in the reporting currency, namely, USD )÷ $3.98 (Based on the year to December 2018.) The higher the P/E ratio, the higher the price tag of a business, relative to its trailing earnings. That is not a good or a bad thingper se, but a high P/E does imply buyers are optimistic about the future. P/E ratios primarily reflect market expectations around earnings growth rates. If earnings are growing quickly, then the 'E' in the equation will increase faster than it would otherwise. That means even if the current P/E is high, it will reduce over time if the share price stays flat. And as that P/E ratio drops, the company will look cheap, unless its share price increases. Most would be impressed by CSL earnings growth of 12% in the last year. And it has bolstered its earnings per share by 9.6% per year over the last five years. So one might expect an above average P/E ratio. The P/E ratio indicates whether the market has higher or lower expectations of a company. The image below shows that CSL has a higher P/E than the average (21) P/E for companies in the biotechs industry. CSL's P/E tells us that market participants think the company will perform better than its industry peers, going forward. Clearly the market expects growth, but it isn't guaranteed. So further research is always essential. I often monitordirector buying and selling. The 'Price' in P/E reflects the market capitalization of the company. In other words, it does not consider any debt or cash that the company may have on the balance sheet. Theoretically, a business can improve its earnings (and produce a lower P/E in the future) by investing in growth. That means taking on debt (or spending its cash). 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. CSL has net debt worth just 5.8% of its market capitalization. It would probably trade on a higher P/E ratio if it had a lot of cash, but I doubt it is having a big impact. CSL's P/E is 37.8 which is above average (15.9) in the AU market. While the company does use modest debt, its recent earnings growth is very good. Therefore, it's not particularly surprising that it has a above average P/E ratio. Investors should be looking to buy stocks that the market is wrong about. People often underestimate remarkable growth -- so investors can make money when fast growth is not fully appreciated. So thisfreevisualization of the analyst consensus on future earningscould help you make theright decisionabout whether to buy, sell, or hold. Of courseyou might be able to find a better stock than CSL. 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.
CORRECTED-FOREX-Yen falls, yuan gains as U.S.-China trade truce lifts risk appetite (Corrects title of analyst in ninth paragraph) * Yen, Swiss franc sag after Trump, Xi agree to resume talks * Offshore yuan at highest levels since early May * Graphic: World FX rates in 2019 http://tmsnrt.rs/2egbfVh By Shinichi Saoshiro TOKYO, July 1 (Reuters) - The yuan gained and the safe-haven yen slid against the dollar on Monday as appetite for risk-sensitive currencies improved after the United States and China agreed to restart their troubled trade talks. The dollar rose 0.25% to 108.190 yen, extending its recovery from near a six-month low of 106.78 set last Tuesday. After meeting Chinese President Xi Jinping in Japan on Saturday on the sidelines of Group of 20 summit, U.S. President Donald Trump said he would hold back on tariffs and that China will buy more farm products. Trump also said the U.S. Commerce Department would study over the next few days whether to take Huawei off the list of firms banned from buying components and technology from U.S. companies without government approval. "Most of the discussions that took place between the United States and China at the G20 had already been anticipated, but the mention of Huawei was a bit of a surprise," said Yukio Ishizuki, senior currency strategist at Daiwa Securities. "There were more dollar short positions than expected, and these are being covered. But once these shorts are covered, the dollar's advance is likely to slow ahead of the non-farm jobs report." Economists polled by Reuters expect U.S. non-farm payrolls, which will be released on Friday, to have risen to 160,000 in June from 75,000 in May. Other key U.S. data due this week include Wednesday's Institute of Supply Management's (ISM) non-manufacturing activity index for June. "Focus now shifts to U.S. fundamentals with the G20 over," said Koji Fukaya, president at Office Fukaya Consulting. "Some Fed officials curbed easing views recently and the data will help the market get a clearer picture of whether the Fed stands poised to cut rates this month." At a June 18-19 policy meeting the Federal Reserve opened the door for possible interest rate cuts later this year. But comments last week from central bank officials, including Chair Jerome Powell, had cooled expectations for aggressive rate cuts. The Swiss franc, another safe-haven currency, fell 0.4% to 0.9801 franc to the dollar. Offshore Chinese yuan was up 0.3% at 6.8470 per dollar after brushing 6.8166, its highest level since May 9. Supported by the greenback's rise against the yen, the dollar index against a basket of six major currencies added 0.25% to 96.352. Against a broadly stronger dollar, the euro fell 0.15% to $1.1351 and the Australian dollar declined 0.35% to $0.7001 . The Turkish lira was up 0.7% at 5.7431 per dollar after Turkish President Tayyip Erdogan said over the weekend that the United States did not plan to impose sanctions on Ankara for buying Russian defence systems. The U.S. Treasury 10-year yield was up about 3.5 basis points at 2.031%, putting some distance between a 2-1/2-year low of 1.974% plumbed on June 20. (Editing by Sam Holmes & Shri Navaratnam)
Big Little Lies Just Forecasted a Dark Future for a Main Character Photo credit: HBO From Esquire As Episode Four of Big Little Lies came to a close, the worst possible vision floated (quite literally) through Elizabeth’s mind-flashes of her daughter, Bonnie (Zoë Kravitz) suspended lifeless in a wave seeming to suggest that Bonnie has a dark fate ahead of her as the series moves into its final three episodes of Season Two. The vision was a long time coming. Elizabeth (Crystal Fox) has been a mysterious character since she appeared in Monterey, and as executive producer Jean-Marc Vallée suggested in an interview with Esquire , Elizabeth is a bit of a mystic with powers unseen on the series so far. After having brief flashes of water throughout the episode, Elizabeth woke from her stroke to see her daughter presumably dead in the water off the coast. Whether or not she has the ability to communicate that vision to her daughter is still unknown, but it doesn't look like things are looking great for Bonnie. Assuming that the vision is a premonition of the future, that leaves Big Little Lies fans with the same question from Season One: who did it? Let’s break down the most likely culprit. Photo credit: HBO Bonnie It’s clear from the first four episodes of this season that Bonnie is not handling the guilt of killing Perry well. With the building pressure of her four co-conspirators on top of her, it would be the ultimate tragic fate for Bonnie to die of suicide. Bonnie has spent a lot of time on her own this season, isolating herself from the rest of the Monterey Five, as well as her husband. If she decided to drown herself in the ocean, it would be a terrible fate. Mary Louise Mary Louise has the best motive of the group, and man it would be a whole new challenge to have a crucifix toting Meryl Streep offing a woman for her son’s murder. Bonnie is the only mom in the group that Mary Louise hasn’t had a heated exchange with, but it’s clear that something is brewing between the two. Though it’s not very clear how exactly the two would find themselves in a situation where Mary Louise would toss her into the ocean, leave it to Meryl to pull it off. Story continues Photo credit: HBO Corey Jane’s new beau seems a bit too good to be true, but he’s also the one with the most logical reason to be near the ocean. Jane hasn’t had much to do this season outside of opening up to Corey about her past, but it would be painfully fitting for the newest man in her life to betray her. The motive leaves a bit of a question mark, but if Jane opens up about the murder, another heated exchange could lead to an accidental death, leading Corey to dump Bonnie’s body into the ocean. No matter what happens, Bonnie doesn’t deserve this dark watery fate. Maybe Elizabeth just has a super overactive imagination? Or maybe her new friend Ed will reveal a secret lifeguard training and save her (give Adam Scott his due!). Until then, someone keep Bonnie away from the ocean. ('You Might Also Like',) HOW TO FIND THE PERFECT SUNGLASSES FOR YOUR FACE SHAPE If You Don’t Have a Denim Shirt Yet, What’s Stopping You? Why You'll Never Understand Mezcal Like You Understand Scotch
Stricker makes record debut and wins US Senior Open SOUTH BEND, Ind. (AP) — Steve Stricker made his U.S. Senior Open debut one for the record book. Stricker birdied the opening hole Sunday and never was threatened on his way to a 1-under 69 for a six-shot victory. He finished at 19-under 261 on the Warren Golf Course at Notre Dame, breaking by three shots the U.S. Senior Open record set two years ago by Kenny Perry at Salem Country Club. The 52-year-old Stricker, who still spends half of his time on the PGA Tour, won a PGA Tour Champions major for the second time this year. He also won by six shots at the Regions Tradition in May in Alabama. Jerry Kelly, who beat Stricker in a playoff last week in Wisconsin in the event Stricker hosts, shot a 69 and tied for second with defending champion David Toms, who had a 68. The victory gets Stricker into the U.S. Open next year at Winged Foot, where he tied for sixth in the 2006 U.S. Open, a key moment in resurrecting his career. Stricker led by at least five shots during the final round. Kelly only had hope briefly on the par-4 10th hole when he made birdie and Stricker made bogey. Two holes later, Stricker chipped in for birdie on the par-3 12th and the lead was back to six shots with six to play. Stricker's bogey on No. 10 was his first since the sixth hole in the opening round, a streak of 57 holes without a bogey that shattered the U.S. Senior Open record of 43 set by D.A. Weibring in 2004 at Bellerive. Stricker made only two bogeys over 72 holes. PGA TOUR DETROIT (AP) — Nate Lashley completed an unlikely wire-to-wire victory in the Rocket Mortgage Classic for his first PGA Tour title. Lashley closed with a 2-under 70 to finish at 25-under 263 and win by six shots, the margin he took into the final round. Even without much drama at Detroit Golf Club, his victory was no less amazing considering what the 36-year-old Lashley has overcome. His parents and girlfriend were killed in a plane crash 15 years ago on their way home from watching him play a college tournament. Lashley dabbled in real estate after graduating from Arizona, quit playing professional golf several years ago and resumed playing in the PGA Tour's minor leagues. Story continues "Without my parents, I wouldn't have started playing golf when I was little," Lashley said. "They did everything to help me have a career." Monday qualifier Doc Redman shot a 67 to finish second. Rory Sabbatini (68) and Wes Roach (68) were another stroke back. Lashley, No. 353 in the world ranking, only got into the PGA Tour's first event in Detroit as an alternate. The Nebraskan took full advantage, shooting a career-low 63 in the first round to take a lead. Lashley stayed atop the leaderboard with a 67 on Friday and gave himself a cushion with another 63 on Saturday. On the brink of breaking through during his second PGA Tour season, his sister, girlfriend, buddies and family friends flew to Detroit to join him. The victory gets him into the British Open in three weeks, along with the Masters and PGA Championship next year. LPGA TOUR ROGERS, Ark. (AP) — Sung Hyun Park two-putted for birdie on the par-5 18th to win the Walmart NW Arkansas Championship for her second LPGA Tour victory of the season and seventh overall. The 25-year-old Park is projected to move from second to first in the world ranking Monday. She will take the top spot from friend Jin Young Ko, the fellow South Korean player who poured water over Park's head on the 18th green. Park closed with a 5-under 66 to finish at 18-under 195 at Pinnacle Country Club. She tapped in a putt not much more than a foot on the 18th to beat Danielle Kang, Hyo Joo Kim and Inbee Park by a stroke. Kang, Kim and Inbee Park each shot 65, with Kang playing the final five holes in 5 under. Sung Hyun Park birdied all four par-5 holes in the final round. She played the 18th in 4 under for the three rounds, making an eagle on Friday and a birdie Saturday for a share the second-round lead. She won the HSBC Women's World Championship in Singapore in early March and was second last week in Minnesota in the major KPMG Women's PGA Championship. EUROPEAN TOUR SOTOGRANDE, Spain (AP) — Christiaan Bezuidenhout closed with an even-par 71 and won the Andalucía Valderrama Masters for his first European Tour title. Bezuidenhout finished at 10-under 274, six strokes ahead of Jon Rahm and four other players. The 25-year-old South African had five birdies and five bogeys in the final round at Valderrama. "I'm proud of myself hanging in there today," Bezuidenhout said. "I was nervous. It's a tough golf course, anything can happen, especially those last three holes playing into the wind. I'm really pleased with the way I played and to finish it off is unbelievable." The other runner-ups included Mike Lorenzo-Vera of France and Spaniards Alvaro Quiros, Adri Arnaus and Eduardo de La Riva. Quiros had the best round of the day with a 5-under 66 that included eight birdies and three bogeys. Tournament host Sergio Garcia ended in seventh place after a 70. Bezuidenhout, Lorenzo-Vera and Arnaus earned the three spots available to the British Open. KORN FERRY TOUR FARMINGTON, Utah (AP) — Kristoffer Ventura of Norway closed with a 6-under 65 and won the Utah Championship by getting up-and-down for par on the third playoff hole to beat Joshua Creel. The Mexican-born Ventura, who played at Oklahoma State, was projected to move to No. 17 on the Korn Ferry Tour points list. The top 25 at the end of the regular season head to the PGA Tour. Creel closed with a 67 and had a 15-foot birdie putt on the 18th to win on the first playoff hole. Returning to the 18th, Creel had to save par from left of the green. The tournament was decided on the 10th, where Creel's drive was in the rough behind a tree, forcing him to lay up. He hit his third to 15 feet and his par putt caught the left. Ventura hit from the right rough to just short of the green and chipped to 2 feet. They finished at 14-under 270, one shot ahead of Ryan Brehm (66), Charlie Saxon (68) and Kevin Dougherty (68). Saxon missed a 10-foot birdie putt on the 18th hole for a chance to join the playoff. OTHER TOURS Perrine Delacour of France closed with a 5-under 67 for a seven-shot victory at the Prasco Charity Championship on the Symetra Tour. The victory moves Delacour to No. 2 on the points list. Patty Tavatanakit, who played at UCLA, shot 72 and was runner-up. ... Rikuya Hoshino was declared the winner of Dunlop Srixon Fukushima Open when rain wiped out the final round. Hoshino had a 7-under 65 on Saturday to build a two-shot lead over Shota Akiyoshi. It was the first time since October 2017 that a Japan Golf Tour event was cut short to 54 holes by rain. The tournament paid out 75 percent of the prize money. ... Matthew Jordan won the Italian Challenge Open in a playoff over Lorenzo Scalise for his first professional title. Jordan closed with a 6-under 66 to get into a playoff with Scalise (65). Scalise hit into the water on the par-3 16th, meaning Jordan only needed two putts from 40 feet to win. ... Toto Thimba closed with a 7-under 65 for a three-shot victory over Stephen Ferreira in the KCB Karen Masters on the Sunshine Tour. ... Hye Jin Choi closed with a 3-under 69 for a two-shot victory over So Young Lee in the McCol-Yongpyong Resort Open on the Korean LPGA Tour. ... Jiyai Shin shot even-par 72 for a three-shot victory in Earth Mondahmin Cup on the Japan LPGA Tour.
Big Little Lies Recap: Disco Demolition Click here to read the full article. Need to catch up? Read our previous Big Little Lies recap here . The Big Little Lies ladies all slapped on a smile for Amabella’s disco birthday party… and that wasn’t the only slapping going on. Related stories Big Little Lies: Celeste's Therapist Has Turned Into a Monster in Season 2 Big Little Lies Recap: It's the End of the World as We Know It (and I'm Not Fine) TVLine Items: Aziz Ansari's Stand-Up Teaser, Chris Klein's Sweet Gig & More At a pre-Halloween pumpkin carving party at Madeline’s, Mary Louise shows up uninvited and dotes on Ziggy, tickling him and complimenting his pumpkin art. She also casually mentions that she’s moving… into Jane’s apartment complex! Celeste pulls her aside and firmly asks her to respect everyone’s “boundaries,” but Mary Louise brushes that off. In fact, she’s still not convinced that Jane was a victim in her encounter with Perry, and wonders how many more women there were that Celeste didn’t know about — and Celeste slaps her across the face hard , knocking her glasses clean off. Mary Louise is unfazed, though. As she recovers, she asks, “What should we call that: foreplay?” (It’s here that I needed to pause for a minute to pick my jaw up off the floor.) Big Little Lies Season 2 Episode 4 Renata Renata’s not having a much better week: She heads to bankruptcy court with Gordon, where a humorless trustee reads off their assets (a condo in Aspen, a yacht named “Amabella”) and a whopping $33 million in liabilities. They’ll have to sell their home, and Renata visibly bristles when the trustee asks if Gordon is expecting an inheritance: “Parents in good health?” He also inquires about a $4,200 charge that Renata says is “medical”… before admitting it was for Botox. She has to hand over her wedding ring, and (in a final humiliation) they have to catch a ride home with their lawyer after turning in the Tesla. Renata insists she’s stuffing down all this anger for now, though, to make Amabella’s birthday the happiest damn day anyone’s ever seen. Story continues And she does, with a crazy elaborate disco-themed blowout at her house, greeting everyone with a manic smile, pretending that everything’s just great. As Ed points out, everyone’s pretending at this party: He and Madeline are pretending like they’re happily married, Bonnie’s pretending that she’s not still thinking about Perry’s death (her mom picks up that “something’s wrong” and tries to lay hands on her in some kind of voodoo mind-meld) and Renata’s pretending like she’s not about to go totally broke. Gazing at Amabella happily dancing with a boy, she complains to Gordon that “all my dreams have gone to s–t” — and then snaps right back into happy hostess mode once she spots a new arrival. (Really, the instant emotional transition Laura Dern does here is frighteningly impressive.) Big Little Lies Season 2 Episode 4 Mary Louise But serious storm clouds are gathering on the horizon. While everyone else is boogieing on down, Mary Louise is meeting with a family law attorney — hi, Denis O’Hare! — who’s helping her prepare a petition for custody (!) of Celeste’s boys. (He advises her to call the other top attorneys in the area, too, so Celeste won’t be able to retain them, and warns her that this move will surely alienate her from the boys, at least temporarily.) And as Bonnie and her mom are leaving the disco party, Bonnie’s mom suddenly goes pale and collapses to the floor. She’s rushed to the hospital, where the doctor tells Bonnie she had a seizure and needs to go into surgery. A rattled Bonnie even spots Detective Quinlan at the hospital and angrily accuses her of stalking her… but it turns out she’s just there on another case. Oops. Celeste does apologize to Mary Louise for that slap… but she also brings home a flirty bartender for a one-night stand while the boys are out eating pizza with Mary Louise. When she brings them home the next morning, Celeste seems dazed and loopy… and the bartender sheepishly walks out without a shirt on before making a quick exit. Celeste claims she didn’t even remember he was still there (Ambien, again), but Mary Louise tells her she’s “a mess” and offers to take the boys in with her while she gets her head on straight. An infuriated Celeste refuses and orders her to leave, but before she does, Mary Louise hands her the petition for custody she’s filing in court: “We need to do what’s best for the boys.” Jane knocks on Mary Louise’s door — she’s right in the same building! — demanding to know if she’ll take Ziggy next, but Mary Louise says of course not, because Jane is “a wonderful, wonderful mother.” She admits she has “concerns” about Celeste, though, and all the pills she’s taking. (See? She was collecting evidence!) She pointedly asks Jane if she’s comfortable with Ziggy in the car when Celeste is driving. Celeste vents to her therapist, who tells her that she’s seen custody battles like these, and “no one wins.” And Bonnie’s mom briefly emerges from her coma, looking disturbed — and seeing (gulp) a vision of Bonnie floating lifelessly in a body of water. Big Little Notes: * Ed continued to sulk about Madeline’s infidelity, ignoring her idea to go to a couples retreat in Big Sur and nearly getting into a fist fight with Nathan at Amabella’s party. Madeline finally asked him to just leave her already if he can’t forgive her. Ed claimed he’s still here, but she shot back that he’s “far from here. You’re not even f–king close.” And she kind of has a point, right? There’s only so long he can punish her before he needs to make a decision: fix it or move on. * Celeste said that Perry told her about Mary Louise’s husband leaving her after “the accident” and starting a new family. Hmmm… which “accident” was that, exactly? She’s clearly not referring to Perry’s death. Could it be… whatever happened to Perry’s brother? Mary Louise said she still blames herself for whatever it was. * Corey continued to be the perfect (albeit weird) boyfriend this week, joining Jane at the disco party and squeezing her hand tenderly when she finally told him about the rape. And bonus: His hair already looks like it’s from the ’70s! * Bonnie also had a weird fight with her dad, when he seemed to accuse Bonnie of saying something that would have triggered her mom’s seizure. She cursed him out and stormed off. Seems like there are some unresolved issues there, no? * Guys, I’m still worried about Amabella. She seemed to be having fun at her birthday party, but she looked sad and isolated at the pumpkin carving. Is she still (understandably) uncomfortable around Celeste’s sons? * Plenty of contenders for the week’s best quote, but I liked the exchange between Madeline and Renata when Madeline was smoking outside during the pumpkin carving. Madeline: “I hate smoking.” Renata: “Nobody smokes anymore.” Madeline: “I’m just trying to manage my stress.” Got thoughts on tonight’s Big Little Lies ? Drop ’em in a comment below. Sign up for TVLine's Newsletter . For the latest news, follow us on Facebook , Twitter , and Instagram .
‘Big Little Lies’ Review: Episode 4 Blows Its Moment and Falls Apart Click here to read the full article. [Editor’s Note: The following review contains spoilers for “ Big Little Lies ” Season 2, Episode 2, “She Knows.”] “Big Little Lies” is starting to feel like a tragedy. An inverse of the original season’s hopeful, unifying message, Season 2 is taking the merry band of murderers and turning them against each other. At first, it felt like the Monterey Five were leaning on one another to help cope with their shared trauma, but as the lies eat away at each of them, the group is falling apart. And now, so is the show. There’s drama to be found in such interpersonal turmoil to be sure, but Episode 4 was too predictable, too reticent, and, ultimately, too far-fetched for its own good. Related stories 'Big Little Lies' Review: 'The End of the World' Approaches, as Does Season 2's Make or Break Moment Jean-Marc Vallee Runs the Show, from the First 'Big Little Lies' to 'Sharp Objects' Let’s start with the obvious problem: When you title an episode “She Knows” after spending all season watching one character search for one secret, it’s reasonable to expect Mary Louise (Meryl Streep) to, if not unequivocally discover who killed her son, at least float a theory. Instead, she plays her ace without proper motivation. As we outlined last week , Mary Louise has a pretty strong case against Celeste (Nicole Kidman), even before Celeste hit her in the face and brought home a bartender to meet the kiddos. But the drama of her legal plea is lessened by the good intentions behind it. Sure, Celeste isn’t exactly fit to parent right now, and yeah, making the audience realize that (if they haven’t already) at the same time as Jane (Shailene Woodley) is potent. Do you, dear reader, want Celeste driving Ziggy around the winding oceanside cliffs of Southern California? “Great point, Mary Louise. I think not!” Story continues But how much better would it be if Mary Louise was motivated by vengeance in addition to goodwill? If she knew Bonnie killed her son, or, better yet, was convinced Celeste killed Perry (Alexander Skarsgård)? Further complexity would build added intrigue around her character, keeping the audience guessing as to how far she’s willing to go instead of watching her dutifully and responsibly react to the events in front of her. Meryl Strep, already outstanding with only this much to do, would be given more teeth-chomping wrath to toy with, which would be much more fun than seeing a grandmother protect her grandchildren for all the right reasons. Give her an edge, already. Let’s see that person who screams again. So long as Mary Louise doesn’t know who killed Perry, or that Perry was even killed, “Big Little Lies” is just stalling. And if she does actually know, she’s hiding it too well, and for too long. Renata’s party for Amabella was the perfect time to clue her in — Celeste and Bonnie (Zoe Kravitz) were feuding with Madeline (Reese Witherspoon); Ed (Adam Scott) and Nathan (James Tupper) came to wimpy, boyish blows; there were lots of guests, and Mary Louise had already set the precedent for showing up to places uninvited. What better setting for the truth to come out? Clearly, screenwriter David E. Kelley and Liane Moriarty, who helped form the Season 2 story, have other plans in mind, and this is where the red flags really start to pop. At the end of “She Knows,” the eponymous she is none other than Elizabeth (Crystal Fox) — yes, Bonnie’s mom. OK, that’s a less dramatic choice to be sure, but fine. Maybe she can help get her daughter out of her rut. Except, well, what exactly does she know? It’s a bit unclear, though the visions Elizabeth sees before and after her stroke show alternating bright lights and bubbles of water. Then, Bonnie is shown diving into the ocean. Finally, in the last clear image of the episode, she’s floating facedown and lifeless in the deep blue sea. Whether that shot is a blunt visual metaphor (“Bonnie is drowning under this lie!” “This lie is killing her!”) or concrete foreshadowing will determine just how bad this choice ultimately is, but either way, it’s not great. At best, the climax of the episode was watching a somewhat inconsequential character continue to be worried about her daughter. At worst, “Big Little Lies” has fallen prey to the Magical Negro problem , where Elizabeth is an old black woman with mystical powers that allows her to help others. Thankfully, she’s there to help Bonnie first, but whatever she’s seen could still end up helping her daughter’s very white friends, as well. This is where we are with just three episodes left in Season 2: The Monterey Five are still holding onto their lie. The intrusive outsider still doesn’t know what she came there to find out. And there’s a mystical black woman who may be the key to breaking the whole thing open. More to the point, audiences still don’t have a good answer for why we’re spending this much time watching a group of friends self-destruct. Yes, Perry was killed. Yes, they lied about it. Yes, their pattern of lies is a problem worth dealing with, but “ the lie ” is based in guilt for protecting each other from a rapist and a serial abuser. Perry’s death brought them together in Season 1, and now it’s driving them apart? There’s a missing link here that Season 2 has yet to find. Hoping these women can reunite before season’s end can’t be the only thing to root for, not after they already earned each other’s support, and ours. Things aren’t exactly looking great for the group, but for the first time this season, they’re not looking great for “Big Little Lies,” either. Grade: C “Big Little Lies” airs new episodes Sundays at 9 p.m. ET on HBO . Sign up for Indiewire's Newsletter . For the latest news, follow us on Facebook , Twitter , and Instagram .
Big Little Lies recap: Let's party like a second-grader! It’s Halloween on Big Little Lies , and everyone is dressed up as someone whose life isn’t totally falling apart! “She Knows” brings us past the halfway point of this seven-episode second season, and anyone still skeptical about the merits of continuing the Emmy-winning limited series clearly doesn’t enjoy watching six of our most gifted actresses do their thing. Also, this whole season was officially worth the price of admission just for this week’s disco party. But before we get to the greatest birthday party since Amabella’s last one, let’s start with a very awkward pumpkin-carving session. The Monterey Five (the only gang in Monterey) and their kids are all over at Madeline’s house, but our host is busy outside smoking a cigarette and declaring that “everything right now is so f—ed.” Preach, says Renata, who is headed to bankruptcy court Saturday. But more importantly, she is killing it in this Halloween outfit. “We stay,” she says of why she doesn’t leave Gordon. “They betray us and we stay. They lie, they cheat on us…” Oh snap, she just realized that she’s talking to noted cheater Madeline. Renata is saved by the bell when Mary Louise shows up. She’s clearly there to see her newest grandson, Young Sheldon, but she also meets the “so beautiful” Bonnie, whom she shares a weird glance with. Mary Louise has big news: She’s moving into Jane’s building. And she wastes no time tickling Ziggy and inviting him over for sleepovers. Celeste pulls her mother-in-law aside to tell her to stop overstepping, especially with the woman her son raped. Mary Louise still isn’t sold on the circumstances of Perry and Jane’s night together, adding that she still has questions, including how many other women Perry cheated with. This causes Celeste to slap the glasses right off Mary Louise’s face. “What should we call that?” Mary Louise asks a horrified Celeste. “Foreplay?” Boom, roasted. Story continues Mary Louise and Celeste later meet for coffee, with Mary Louise saying she’s worried for the boys’ safety because of Celeste’s “erratic” behavior. Oh, you just wait, Mary Louise. She tells her daughter-in-law that grief is meant to be shared, even though she did it alone when her young son died and her husband left her. “People can move on after tragedy, just not together sometimes,” Mary Louise says. And with that, she’s on her way to move her grandchildren away from their mother. Mary Louise has enlisted the services of lawyer Ira Farber ( American Horror Story ’s Denis O’Hare), who is so ruthless that he advises her to call all the best family attorneys in the area so that they’re conflicted and can’t represent Celeste. He also prepares her to be alienated from the boys. “Everyone needs to be liked,” he opines. “I find that’s especially true with grandmothers.” And grandmothers deserve to be liked! Right about now, Madeline would love to at least be liked by Ed. She’s pitching a couples workshop getaway to Big Sur, but he’s dead silent until Chloe comes seeking her parents’ thoughts on a school project about opposites. Chloe has a picture of a door and a picture of her mom. Get it? One is hinged and the other is unhinged. Madeline’s not a fan, while Ed hasn’t smiled that wide in weeks. The troubled marriage theme continues when Renata and Gordon arrive at bankruptcy court. In an amusing callback to Renata’s earlier court appearance, the metal detector goes off as she walks through, but this time it cuts away before we see her lose her sh—. The Kleins’ meeting with the trustee is rough considering how cold-blooded he is, both making her hand over her wedding ring and outlawing future “medical” work (I’m not sure which is worse). Thankfully, she soon gets the ring back, and all it costs them is their Tesla and the price of a cab ride home. But bankruptcy is a problem for another day, because today is Amabella’s day and we’re going to party like it’s 1977 (minus the drugs, since it’s a second-grade party). Honestly, this may speak volumes about my social life, but this is definitely the coolest party I’ve ever been to it, and I wasn’t even really there. Everyone has come out to support our favorite climate change truther, whether it’s Bonnie’s mom, Elizabeth, or Jane’s boyfriend, Corey. Bonnie and Renata adorably tease Jane about how cute he is, prompting Jane to tell them to be cool. “I’m never cool,” Renata says with a laugh. Hey, Renata, don’t ever say that about my friend again! The fun times only last so long, though. First, Bonnie interrupts Celeste and Madeline’s conversation to ask what Mary Louise knows. “If anything, she’s suspicious of me,” Celeste admits. “If I could do it again, I wouldn’t go along with the lie.” Madeline thinks she’s being blamed and doesn’t appreciate her friends talking bad behind her back. “You’re right here, it’s to your face,” cracks Bonnie (insert fire emoji). Elizabeth notices this and grills her daughter about the bad “energy.” She really pisses Bonnie off when she grabs her head and tries to get inside it with some voodoo. Elsewhere at the disco party, marriages continue to be on the rocks. “I suppose we will never be giving her anything like this again,” Renata says to Gordon as they watch Amabella dance with one of Celeste’s boys (hopefully not the one who bit her). Gordon wants to know if his wife will ever be able to forgive him. It’s not about him, she insists, as she’s spent her whole life planning her child’s life. “I’m having a difficult time reconciling that all my dreams have gone to sh—,” she admits. “All my hopes and plans for Amabella have gone to sh—. And I married a man who would take my life and all my accomplishments and just turn them to sh—. That’s on me… my f—ing bad.” Damn, I need my girl Renata to stop being so hard on herself. Things aren’t going much better for Madeline and Ed. She wants them to dance, but, as much he’d love to, he doesn’t want to pretend for this “dog and pony show.” When she walks away, Nathan checks on his bud Ed, who tells him to shut up, leading to an adorable attempt at a fight. Soon after they’re broken up, both Madeline and Nathan notice how good a time Ed and Bonnie are having together, which is definitely a seed that has been planted this season. Well, at least one relationship is Monterey is going strong. Jane and Corey are dancing and having a romantic time when she suddenly has a flashback to the night with Perry. This leads to her sharing more about the circumstances with Corey, who comforts her by taking her hand. Even with all the drama, the party is a huge success — that is until Bonnie and family are receiving their surely expensive gift bags and Elizabeth suddenly drops unconscious. At the hospital, Bonnie learns that her mother’s seizure was the result of a stroke. When her father shows up, he insinuates that Bonnie said something to cause this, leading her to storm out. And in that emotional space, Bonnie spots Quinlan talking to a doctor and goes off on her. Thankfully, Jane arrives and pulls her away, revealing that the detective was there for an unrelated case. Elizabeth’s collapse has Madeline taking stock of things, telling Ed that if he’s going to leave her, then he should just do it already. “I’m still here, aren’t I?” he retorts, to which she fires back, “Is that what you think, Ed? You’re far from here. You’re not even f—ing close.” Later, Madeline tries to snuggle with Ed as they sleep, but he rolls over, sending her off into flashbacks of hooking up with the theater director. Celeste will soon be having her own romantic flashbacks. With Jane heading to check on Bonnie and Mary Louise keeping the boys overnight, Celeste is alone at a bar and orders another drink from the Skarsgardian bartender. The next morning, after a night of trying to be Cool Grandma, Mary Louise brings the kids home early because they skipped church due to Max thinking God is a “douchebag.” Celeste seems completely out of it, and she’s just as surprised as the rest of the Wright family to see shirtless bartender Joe appear out of nowhere. It turns out that once again Ambien didn’t quite agree with her. Mary Louise drops Max and Josh off at Jane’s apartment so she can talk one-on-one with Celeste. “You’re a mess,” she declares, saying the boys are at risk in Celeste’s care. As she leaves, Mary Louise notifies Celeste of her intentions to take the children. In complete shock, Celeste can’t even hold the paperwork. Like a true friend, Renata has helped Celeste get a good lawyer, but it’s not the best since Mary Louise already scored ruthless Ira. “Everything feels like it’s unraveling,” says Renata, who noticeably took her wedding ring off in an earlier scene. And as if things couldn’t unravel anymore, Quinlan happens to make another drop-in, sharing her regret for having missed out on Madeline’s big speech at the assembly. I know she’s trying to take down our girls, but I respect the hell out of Quinlan. Outraged over Mary Louise’s actions against Celeste, Jane barges over to her apartment to ask if she’ll try to take Ziggy next. Mary Louise insists that she would never since she believes Jane to be a wonderful mother, while she has questions about Celeste. Meanwhile, having already been betrayed by Mary Louise, Celeste is panicked that Dr. Reisman will do the same and testify against her. “I don’t feel strong enough for this,” says Celeste. But when Reisman suggests settling, Celeste declares, “I’ll win. I’ll f—ing win.” Bonnie gets a win when her mom starts making noises and appears to wake up, but then Bonnie takes a big L when Elizabeth has a vivid flash of her drowning. I mean, to be honest, it’s not surprising after how much time we’ve seen her spend staring out at the ocean. Biggest Lie of the Week: That Renata is never cool. You take that back! Monterey Bae of the Week: Get it, Celeste! Emmy Submission Moment of the Week: Celeste slapping Mary Louise. That’s a scene that plays during the reading of the nominees at the Emmys if I’ve ever seen one! Related content: Big Little Lies recap: Dr. Little Bo Peep, climate change, and the ‘f—ing Medusa of Monterey’ Big Little Lies recap: Marriage problems run deep in the Monterey Five Big Little Lies premiere recap: Let second grade (and Meryl Streep’s Emmy campaign) begin!
Zooming in on ASX:ING's 5.1% Dividend Yield Want to participate in ashort research study? Help shape the future of investing tools and you could win a $250 gift card! Is Inghams Group Limited (ASX:ING) a good dividend stock? How can we tell? Dividend paying companies with growing earnings can be highly rewarding in the long term. Unfortunately, it's common for investors to be enticed in by the seemingly attractive yield, and lose money when the company has to cut its dividend payments. Inghams Group pays a 5.1% dividend yield, and has been paying dividends for the past two years. It's certainly an attractive yield, but readers are likely curious about its staying power. The company also bought back stock equivalent to around 8.3% of market capitalisation this year. When buying stocks for their dividends, you should always run through the checks below, to see if the dividend looks sustainable. Explore this interactive chart for our latest analysis on Inghams Group! Companies (usually) pay dividends out of their earnings. If a company is paying more than it earns, the dividend might have to be cut. As a result, we should always investigate whether a company can afford its dividend, measured as a percentage of a company's net income after tax. In the last year, Inghams Group paid out 58% of its profit as dividends. A payout ratio above 50% generally implies a business is reaching maturity, although it is still possible to reinvest in the business or increase the dividend over time. We also measure dividends paid against a company's levered free cash flow, to see if enough cash was generated to cover the dividend. Inghams Group paid out 92% of its free cash flow last year, suggesting the dividend is poorly covered by cash flow. While Inghams Group's dividends were covered by the company's reported profits, free cash flow is somewhat more important, so it's not great to see that the company didn't generate enough cash to pay its dividend. Cash is king, as they say, and were Inghams Group to repeatedly pay dividends that aren't well covered by cashflow, we would consider this a warning sign. Remember, you can always get a snapshot of Inghams Group's latest financial position,by checking our visualisation of its financial health. One of the major risks of relying on dividend income, is the potential for a company to struggle financially and cut its dividend. Not only is your income cut, but the value of your investment declines as well - nasty. This company's dividend has been unstable, and with a relatively short history, we think it's a little soon to draw strong conclusions about its long term dividend potential. During the past two-year period, the first annual payment was AU$0.052 in 2017, compared to AU$0.21 last year. This works out to be a compound annual growth rate (CAGR) of approximately 99% a year over that time. The growth in dividends has not been linear, but the CAGR is a decent approximation of the rate of change over this time frame. Inghams Group has grown distributions at a rapid rate despite cutting the dividend at least once in the past. Companies that cut once often cut again, but it might be worth considering if the business has turned a corner. With a relatively unstable dividend, it's even more important to see if earnings per share (EPS) are growing. Why take the risk of a dividend getting cut, unless there's a good chance of bigger dividends in future? It's not great to see that Inghams Group's have fallen at approximately 5.7% over the past five years. Declining earnings per share over a number of years is not a great sign for the dividend investor. Without some improvement, this does not bode well for the long term value of a company's dividend. To summarise, shareholders should always check that Inghams Group's dividends are affordable, that its dividend payments are relatively stable, and that it has decent prospects for growing its earnings and dividend. First, we think Inghams Group has an acceptable payout ratio, although its dividend was not well covered by cashflow. Earnings per share have been falling, and the company has cut its dividend at least once in the past. From a dividend perspective, this is a cause for concern. In this analysis, Inghams Group doesn't shape up too well as a dividend stock. We'd find it hard to look past the flaws, and would not be inclined to think of it as a reliable dividend-payer. Without at least some growth in earnings per share over time, the dividend will eventually come under pressure either from costs or inflation. Very few businesses see earnings consistently shrink year after year in perpetuity though, and so it might be worth seeing what the 6analysts we track are forecasting for the future. We have also put together alist of global stocks with a market capitalisation above $1bn and yielding more 3%. 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.
Big Little Lies' Crystal Fox teases Bonnie's mom's visions and what they could mean Note: This story contains spoilers from episode 4 of Big Little Lies, “She Knows.” Read at your own risk. Fleetwood Mac may be one of Madeline’s ( Reese Witherspoon ) favorite bands, but it’s Elizabeth (Crystal Fox) who’s got the crystal visions. Episode 4 of Big Little Lies brought both the expected (the women continue to kill at costume parties — this time, only figuratively) and the unexpected (Bonnie’s mother, Elizabeth, collapsed from a stroke). At said costume party, which is a disco-themed birthday bash for Amabella (because what second-grader doesn’t what a ’70s themed birthday party?), the hippie fringe really hit the fan. Celeste (Nicole Kidman) and Bonnie ( Zoë Kravitz ) confess to Madeline (Reese Witherspoon) that if they had it all to do over again, they never would have lied. It’s a revelation that puts Madeleine on the defensive. Meanwhile, Jane (Shailene Woodley) is falling hard for Corey (Douglas Smith), but wrestling with her trauma, which prompts her to reveal the details of her rape to her new love interest. After attending a bankruptcy hearing where she had to hand over her wedding ring and car keys, Renata (Laura Dern) waxes melancholy to Gordon (Jeffrey Nordling) about reconciling the fact that all her dreams have “gone to s—.” Take a number, Renata. Ed (Adam Scott) and Nathan (James Tupper) have a knockdown, afro-dragout fight (Literally. Ed’s afro gets knocked off), which then leads to passive-aggressive stewing as Nathan and Madeline watch Ed and Bonnie bond on the dance floor. But the entire party is filled with bad energy, a toxic environment that Bonnie’s mother Elizabeth can sense (which we see through the fuzzy visions it’s triggering). Only before she can question Bonnie about anything further, she collapses from a stroke. While Bonnie sits by her mother’s bedside (in between cussing out Detective Quinlan), things worsen between Celeste and Mary Louise (Meryl Streep) as the mother-in-law from hell plots to file a petition for full guardianship of the twins. It doesn’t help that Celeste adds fuel to the custodial-battle fire when she gets drunk and hooks up with her bartender. But Celeste isn’t backing down, refusing to settle out of court. And Bonnie sits in limbo while her mother appears to have visions of her own daughter drowning — but whether they’re from the past, present, or future is unclear. Story continues To get more on this water-logged imagery, we called up the woman behind Bonnie’s earth mother, Crystal Fox, to talk voodoo, visions, and violence. So, get yourself some Donna Summer-inspired threads and let’s groove our way into the murky waters of Monterey Bay. ENTERTAINMENT WEEKLY: When we first met Bonnie’s mom, Elizabeth, it seems like she has an interest in some sort of spiritual or mystical arts – can you speak more to this and what she was doing with the crystals and such on Bonnie’s dresser? CRYSTAL FOX: She has a spiritual faith and a groundedness. I don’t know how heavy she is into it, but I feel like her background is they’re seers, they’re sensitive, they’re intuitive. There was talk of voodoo for a little period of time, and we weren’t quite sure we wanted to go with that, but when I looked into it and the Haitian culture — a lot of times, we’re used to just dark voodoo or the negative of putting curses on people — what I looked into was the white light of it, and that is the healing part of it. That’s what I wanted to bring to my character Elizabeth and also bring to my daughter Bonnie. I feel like her life is in turmoil and we haven’t gotten to the bottom of it. Until we do, I know there’s an uneasiness there with her and in the house. My granddaughter is there as well. So I wanted to leave some sense of healing and light over her and covering over her. In that same episode, you also asked Bonnie, “What’d you do this time?” Is it fair to assume there was an equally dark time she’s referring to in Bonnie’s past? I’m not sure if it’s that. A lot of times your parents will ask you that. You don’t know if they’re necessarily accusing you of something you did or did not do, or if it’s just a parent, you know what I mean. It kind of leaves it open to interpretation that way as well. It’s like, did she really do anything? Or did her mother think she did something? Might the visions we see Elizabeth having in episode 4 connect to whatever this is in Bonnie’s past that Elizabeth is mentioning? I don’t think so, but I don’t know. A lot of times people don’t know. When people have visions, you get a vision and it’s not always clear where the vision is from — is it from the future or is it from the past? So I don’t know. I know that my character says to her, “I’m uncomfortable and I’m having these visions.” She wants to talk to her daughter more to find out if they’re connected to her or something around her. Everybody’s trying to find out what the visions are about, and why are they happening now. I think a lot of people might assume the title “She Knows” in this episode will refer to Mary Louise or maybe even Detective Quinlan, but now it seems like the “She” might be Elizabeth — is that fair to say? I love that. I’m not trying to be vague. I love it because we all shot our scenes separately, but I bet we’re all thinking the same thing as you. It’s like, which one of us knows? Do any of us know? Because I thought the same thing. I thought, “Do I know? Does she know?” It seems like Bonnie and her mom have a complex, fraught relationship. Is that fair to say and will we learn more about it/why that tension exists this season? I think you will. I think it is fair to say. But I don’t think it’s any more or less than most relationships in general. I was speaking to someone about it, and we were talking about the different dynamics of family. It’s harder possibly for mothers and daughters because a mother is responsible for how to develop another woman when it’s a daughter. Maybe it’s easier when it’s a mother and son. Just like it might be easier when it’s a father and daughter relationship. But these two women, yeah, it’s inevitable that they will buck heads probably at some point in her growth and her mom’s. In the novel, Bonnie is a survivor of domestic abuse at the hands of her father. It seems possible that maybe now the perpetrator could be her mother. The flashes of the past suggest, if not outright physical abuse, something strange going on. Is that an outlandish assumption from what we’ve seen for far? No. No, no, I don’t think it is outlandish. The final moments of the episode are Elizabeth’s dreams or visions and it looks like Bonnie is drowning. We’ve had this theme of water and Bonnie learning to swim come up already. So, first off, is that Bonnie in that vision? Can you say whether we saw what we thought we saw? I think so because I saw Bonnie as well. If they changed that, then that’s a trick of the eye on all of us. I really thought that was Bonnie as well. What is the deal with Bonnie and water? It’s clearly a recurring theme for her and seems perhaps dangerous, especially given the show’s tendency to link the violence of the waves crashing on the shore and these women. [Elizabeth is wondering] the same thing. Is it literal? Or is just where [Bonnie] was in what’s going on with her life? You know when you feel like you’re drowning, when you feel like you’re suffocating, when you feel like you can’t breathe — is it that or is it literal? That is what’s on Elizabeth’s mind the whole time. Viewers might assume this is a memory from the past. But it sounds like there’s a chance it’s a premonition or something from the future? Right. It can be. We all have to wait and see. Elizabeth can tell something is up. How close is she to learning the truth of this lie and what the Monterey Five have done? How much will her stroke set her back in sniffing that out? I don’t know if she’s close. That’s just it. She has a stroke before she can get any answers, even from the vision that she had at the party. So she doesn’t know. Her being in the hospital has certainly complicated things with Detective Quinlan. Will she have any interaction with the detective herself? No. We don’t know how well she’ll be or how quickly she might recover, but might Elizabeth become embroiled in Celeste’s custody battle in any way — this show has a lot to say about mothers and children, and it seems like she’s a mama bear and maybe she’d step into that fight somehow? [ Laughs ]. Exactly right. If she recovers, absolutely she would be involved, as much as Bonnie would allow her to be. Is there a scene coming up you’re looking forward to audiences getting to see? I am just like the rest of the world. Anything that Ms. Streep is in — I could watch her just drink water. I like my scenes with Bonnie. The audience is going to be surprised and moved. Can you tease something for Elizabeth for episode 5? You see where she is. She’s in the hospital, so that right there is a lot. It’s not an easy awakening anyway. A person that has a stroke — their life has possibly been changed forever. Related content: Big Little Lies star Douglas Smith on Corey and Jane’s relationship Big Little Lies Beauty Hunter: Breaking down the makeup of Monterey Big Little Lies casting director David Rubin on how they landed Meryl Streep for season 2
Did IPH Limited (ASX:IPH) Use Debt To Deliver Its ROE Of 16%? Want to participate in ashort research study? Help shape the future of investing tools and you could win a $250 gift card! Many investors are still learning about the various metrics that can be useful when analysing a stock. This article is for those who would like to learn about Return On Equity (ROE). To keep the lesson grounded in practicality, we'll use ROE to better understand IPH Limited (ASX:IPH). IPH has a ROE of 16%, based on the last twelve months. One way to conceptualize this, is that for each A$1 of shareholders' equity it has, the company made A$0.16 in profit. Check out our latest analysis for IPH Theformula for return on equityis: Return on Equity = Net Profit ÷ Shareholders' Equity Or for IPH: 16% = AU$45m ÷ AU$274m (Based on the trailing twelve months to December 2018.) Most readers would understand what net profit is, but it’s worth explaining the concept of shareholders’ equity. It is all the money paid into the company from shareholders, plus any earnings retained. You can calculate shareholders' equity by subtracting the company's total liabilities from its total assets. ROE looks at the amount a company earns relative to the money it has kept within the business. The 'return' is the profit over the last twelve months. 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. Arguably the easiest way to assess company's ROE is to compare it with the average in its industry. Importantly, this is far from a perfect measure, because companies differ significantly within the same industry classification. The image below shows that IPH has an ROE that is roughly in line with the Professional Services industry average (16%). That isn't amazing, but it is respectable. ROE tells us about the quality of the business, but it does not give us much of an idea if the share price is cheap. I will like IPH better if I see some big insider buys. While we wait, check out thisfreelist of growing companies with considerable, recent, insider buying. Companies usually need to invest money to grow their 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 debt used for growth will improve returns, but won't affect the total equity. Thus the use of debt can improve ROE, albeit along with extra risk in the case of stormy weather, metaphorically speaking. While IPH does have some debt, with debt to equity of just 0.12, we wouldn't say debt is excessive. The combination of modest debt and a very respectable ROE suggests this is a business worth watching. 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 one way we can compare the business quality of different companies. In my book the highest quality companies have high return on equity, despite low debt. 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. Profit growth rates, versus the expectations reflected in the price of the stock, are a particularly important to consider. 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.
Big Brother recap: The first H.O.H. puts others on the chopping block Last week , Christie won this season’s first H.o.H competition. It was a big win, as she’s part of the season’s first powerful alliance. “The Power Six” consisting of Christie, Holly, Isabella, Jack, and Jackson were confident in their early numbers, and Christie winning the competition meant they had the power heading into this episode. Still, they need more numbers, and that’s where this episode kicks off. Everyone is well aware that Christie is thinking about who to put on the chopping block, but only a few are really panicking. Kathryn is particularly paranoid, whereas Ovi is just being weird, “getting close” to Christie by making some seriously awkward conversation with her. Initially, it looks like Ovi is the classic overthinker, worrying too much about being both the “non-threat” and the “friend with everybody” that he ends up working too hard and putting a target on his back. But before long he overhears Nick and Tommy whispering at night; the word “eight” stands out to him, as that’d be the number needed for a majority. Thus, Ovi is on to their alliance. He’s not the only one though. When Christie tells Kathryn that she might end up on the chopping block, but just as a pawn so that everyone can vote out Cliff, Kat doesn’t buy it for a second. And why would she? Nobody goes on the block right now as a pawn. Ovi isn’t totally sure about what to do with his vague information, so he goes to Analyse with his ideas about how relationships are forming and people are starting to work together. That’s a mistake, as the Power Six is now an eight (an alliance that Nick has dubbed “Gr8ful”), and Analyse is a part of it, along with Tommy. It’s not the first time this episode that Ovi will unknowingly make the wrong move though. Yep, he’s the classic overthinker. The next iffy move happens after everyone signs up for a “Whacktivity.” The house is divided into three groups, all of which will be competing for special powers in different weeks. The “Nightmare” group, consisting of Nicole, Cliff, Ovi, Kathryn, and Isabella is up first, and their challenge is truly disgusting. They have three buckets of nasty camp smells in front of them, and they have to match them with smells scattered across a destroyed campsite. There’s bobcat urine, some rotting shrimp, moldy tomatoes, “impure durian” (which I totally had to Google) and a host of other gross smells. Story continues It takes the contestants three rounds to get a winner, with Ovi managing to correct a past mistake and snag the win. That gives him a special, secret power. Back in the house, alone, he opens up an envelope and reads about what he’s won. The “Nightmare Power” allows the recipient to, after any of the first six nomination ceremonies, wake up everyone in the middle of the night and force the H.O.H to select two new nominations, making the previous two safe. On top of that, nobody will know who used the power. That’s huge, and Ovi knows it. He knows he has to hold on to it just in case he ends up on the block. But, the thing is, rather than lay low like he says he’s going to do, he starts playing too hard. He goes to Jack, Jackson (who’s going by “Michie” now), Christie, and Analyse and suggests they form a tight five alliance and then just use people as they need to. It’s such a dumb, overeager move. He’s got all the power in the world, holding the Nightmare Power and knowing about an eight-person alliance, but he’s out here blabbing to anyone that will listen, meaning he’s letting the actual member of that alliance know what he’s up to. You need a lot more chill, Ovi, if you’re going to survive until the end. You should be laying low and observing what’s happening and striking when necessary, not forging alliances when you know eight goddamn people are already joining forces. Be cool, man! For awhile it looks like Christie might play around with the nomination ceremony, as she’s off-put by Kemi’s approach to her game and Ovi’s eagerness. But, when it comes down to it, she sticks to the original plan. She nominates Cliff and Kathryn and then ends the episode by saying she’s not even sure she wants them to stay on the block. Way to commit, Christie! She may get her wish though. The veto competition is coming up on Tuesday, and that could change the look of things. Related content: Meet the cast of Big Brother season 21 Big Brother season premiere recap: Welcome to summer camp Big Brother recap: The premiere, part II
Fear the Walking Dead Recap: Al Learns About the Group That Has Rick Grimes Click here to read the full article. Warning: The following contains spoilers for Sunday’s Fear the Walking Dead . But you knew that already, didn’t you? Sunday’s Fear the Walking Dead not only revealed where Al has been since she ran afoul of CRM in the Season 5 premiere , it introduced a really appealing new character (beautifully played by Sydney Lemmon), kick-started a lovely romance that we never saw coming, and dropped big hints about the group that has — or, depending on the timeline, soon will have — TWD ’s Rick Grimes . Read on, and we’ll go over the lot of it! Related stories Walking Dead: Multiple Rick-Centric Movies Starring Andrew Lincoln Eyed Fear the Walking Dead Season 5 Photos Is Walking Dead Crossover Nigh? How Do Handmaids Eat? Was Life in Pieces Planning a Shake-Up? And More Qs! ‘I DON’T STAY IN THE CAR’ | Early on, “The End of Everything” was all about Al going so far as to lose a boot in trying to escape from her uniformed captor, at least long enough to hide the tape that she’d made of the fallen CRM member at the crash site. Upon being re-apprehended, she — and we — discovered that said captor was a woman. We wouldn’t find out until the end of the hour that her name was Isabelle, but for ease of recapping, I’m gonna start calling her that early. OK by everybody? Cool. Anyway, the next time Al got away, she probably could have really gotten away from Isabelle if only she’d made tracks. Instead, she poked around the compound at which they were parked and got an eyeful of the legendary chopper. Caught again, she noted Isabelle’s upset at having to inform her higher-ups over the radio that she wasn’t inbound with the payload yet because she had to refuel. Isabelle was even more perturbed to be told that they were sending “a reclamation team.” We never learned what that was, but we can probably all agree it doesn’t sound nice. Once Isabelle got off the phone — sorry, radio — she threatened to break Al’s leg if she didn’t tell her where she’d hidden the damn tape. Ha! But if Isabelle broke Al’s leg, said the captive, she’d never talk. “I can be really spiteful like that.” However, Al would reveal the whereabouts of the telltale tape in exchange for Isabelle’s story. Oy, that again! Story continues fear-the-walking-dead-recap-season 5 episode 5 the end of everything al gay lesbian In the end, Isabelle didn’t break any of Al’s bones; rather, she took the journalist along as she drove to a fuel drop at the top of a mountain. Well, drove toward it, anyway. A rockslide blocked their path well before they reached their destination. On the plus side, it stopped Al from playing 20 rounds of 20 Questions that Isabelle — whom she called Happy since she wouldn’t smile or disclose her name — wasn’t about to answer. On the downside — well, the extra downside — it gave Al a chance to obstinately refuse to stay in the car or wear protective gear. Angry, Isabelle said that if her companion insisted on being “transactional,” she’d give her this: “Everything I do is to ensure that there’s more than stories left when I die.” That being a start, Al agreed to put on protective gear. But it was a good thing she hadn’t stayed in the car — another rockslide just about demolished it. (Apparently, not staying in cars was a big thing for her. “That rule’s kept me alive,” she said, “even before people were eating each other’s faces.”) Putting on the protective gear was lucky, too — it saved her from being bitten by a walker that emerged from the rubble as she retrieved her camera bag to hike up the mountain. fear-the-walking-dead-recap-season 5 episode 5 the end of everything al gay lesbian ‘WHAT I TOLD YOU TODAY, I’VE NEVER TOLD ANYONE’ | Given how protective Al was of her camera bag, Isabelle searched it and found a hidden tape: The Bog #7. Enraged that Al had had it the whole time, Isabelle looked ready to shoot her… at least till Al suggested, “You might wanna watch that before you spray my brains across the ground.” It did not turn out to be the tape that Isabelle wanted. It was Al reporting on the Army and National Guard mobilizing as the zombie apocalypse turned the world upside-down. “I’m sorry, Jesse,” she said on the tape. “I should have stayed… before and after.” Making it clear that that tape was not a part of their transaction, Al revealed, “I could have said goodbye to my brother.” Instead, she’d gotten the story; now the story was all that was left. “Since we’re sharing,” she went on, why had Isabelle killed her partner? Naturally, Isabelle refused to answer. She just warned Al to avoid anyone wearing a jacket like hers. “We are a force who are not living for ourselves or for now,” and while Al was making every day the past, “we have the future.” Cryptic, but it was something. Camped out that evening, the two bonded a bit, with Isabelle suggesting that “you and me are the same kinda bird” and admitting that she’d killed her partner because she’d been doing her job. Al’s stories mattered, she added. “Some things matter more to me, that’s all.” fear-the-walking-dead-recap-season 5 episode 5 the end of everything al gay lesbian The following day, the pair grew even closer when they were forced to rely on one another to survive the perilous rock-climb to the top of the mountain. At one point, Isabelle lost her grip and was left hanging by the cord that connected them. But Al wouldn’t let her drop. So at the top of the mountain, Isabelle rewarded her with fresh intel: Her partner had been her friend, Beckett. When he’d seen what the radiation had done to the walkers at the nuclear plant, he’d cracked. She’d broken protocol in hopes of saving him, but in the end, she’d been forced to shoot him. She couldn’t let him just walk away with the maps that he had in his possession. Her group and its location had to remain a total secret. That being the case, yes, Isabelle confessed, once she got the tape from Al, she’d have to kill her, too, “for operational security.” Shortly, Al got the drop on Isabelle and pondered the possibility of just leaving her there to go after the helicopter herself. Isabelle warned Al that the reclamation team would arrive in less than 24 hours, and if she or any of her friends were near that chopper when they showed up… well, “just don’t be.” Isabelle further pleaded with Al to destroy the tape. Why? Finally, Isabelle was ready to talk. That night, though she refused to share the name or location of her group, she said that it was bigger than all of them, and “right now it’s the only thing that matters.” fear-the-walking-dead-recap-season 5 episode 5 the end of everything al gay lesbian ‘I WILL DIE HERE IF I HAVE TO’ | The reason Al’s tape is so important, Isabelle explained, is that her footage of Beckett’s maps could reveal CRM’s location and make “what we’re working towards vulnerable.” So if Al really wanted to make her brother’s death and all her stories mean something, she had to “make sure there’s people around to hear them one day.” At last, Al agreed to show Isabelle where the tape was, the two of them shared a beer, and Isabelle admitted that she wished she’d met her companion before the apocalypse — or maybe when it was all over — in such a way that I started thinking, “Aw, kiss! Kiss!” like I was 12. “Everything is so ugly nowadays,” sighed Al. “This is nice.” And that it was. The following morning, Al took Isabelle to the spot where she’d hidden the tape on a walker. Unfortunately, she still had to kill Al. Why had Al taken her there? Why had she signed her own death warrant? “Because for however long it takes you to pull that trigger,” Al replied, “I’ll know I chose something other than a story.” Her days down to minutes, Al gave Isabelle The Bog #7 and asked her to make sure that Jesse’s story mattered. “Make sure he lives.” There was nothing left for Isabelle to do but shoot… but she couldn’t. “I want you to live,” she cried. So she was going to let Al go, so long as she never pursued the story or tried to find her. What’s more, Isabelle shared her name and that she was from Indiana, and she actually was happy, because “I got to see the prettiest thing I’ve seen since the end of everything.” With that, they did finally kiss before going their separate ways. Later, Isabelle reported to her colleagues that she had the payload and received clearance to return to… base, I guess. (What exactly the payload was, I’m not clear on, are you?) Also in her possession: the Bog tape. For her part, Al began a new chorus of “Morgan, do you copy?” before being reunited with her pals, spinning a yarn about how she’d been overrun by the dead, and there hadn’t been a story after all, and holy crap, Morgan, when did you adopt a dozen kids?!? Morgan and Alicia would explain later. But it was clear that Al had turned a corner. Changed by her experience with Isabelle — and the introduction of “more new people” — she blurted out her last name, which I couldn’t possibly spell here. “I had two parents with Polish names who insisted on double-barreling,” she told Morgan and Alicia. And I had a funny feeling I was gonna like Al 2.0. What did you think of “The End of Everything”? We have to see Isabelle again, right? But will it be on Fear TWD , TWD or in AMC’s Rick-centric movies? Hit the comments with your theories. Sign up for TVLine's Newsletter . For the latest news, follow us on Facebook , Twitter , and Instagram .
Report: Wild to sign forward Mats Zuccarello to 5-year contract worth $6M AAV Mats Zuccarello is expected to sign a five-year contract with the Minnesota Wild. (AP Photo/Jeff Roberson) The Minnesota Wild will reportedly sign Mats Zuccarello to a five-year contract with an average annual value (AAV) of $6 million, according to TSN’s Pierre LeBrun. All signs pointing to Zuccarello signing with the Wild. Hearing five years and $6 M aav or around there https://t.co/icVUkU6wI5 — Pierre LeBrun (@PierreVLeBrun) July 1, 2019 Zuccarello spent the first eight years of his career with the New York Rangers, before being traded to the Dallas Stars last season. He posted 40 points in 48 games between both teams, and notched four goals and 11 points in 13 playoff games with the Stars. Based on our current rosters, the #Wild are the oldest team with an average age of 29.6 Zuccarello will turn 32 on September 1st. https://t.co/GMCshcJqmG — CapFriendly (@CapFriendly) July 1, 2019 It was reported earlier this week that Zuccarello was seeking a five-year deal and the skilled forward got the term he was looking for, adding some more skill and speed to the Wild’s forward corps. More NHL coverage from Yahoo Sports
Fear the Walking Dead recap: Some major clues revealed for the three rings Last week, “ Skidmark ” from Fear the Walking Dead (the episode, not the cat) confirmed what many of us already surmised: the three-ringed symbol Althea found on a series of maps that were in the possession of a mysterious soldier in black is the same symbol on the side of the helicopter that ferried off Rick Grimes in The Walking Dead . This week, we get even more answers… well, teases to who this mysterious group really are, at least. The downside, the intel comes via a solo episode for Al, which isn’t the worst thing. At least nobody finds themselves locked in a moral dilemma about helping people who don’t want to be helped. Meet Happy The Walking Dead universe gets its own “Happy,” who is not played by Jon Favreau this time. “The End of Everything” takes us back to the night Al was knocked out by that soldier. She wakes as she’s being dragged off and attempts to flee with her stuff through the woods. Thanks to some walker-related obstacles, she can’t escape her pursuer, but the scuffle knocks off the soldier’s helmet, revealing a woman. She’s played by actress Sydney Lemmon from one episode HBO’s Succession and a small role in Netflix’s Velvet Buzzsaw . This woman needs the tape containing what Al recorded of her former comrade and his maps, but Al hid it somewhere and won’t fork it over until she hears this woman’s story. Thus begins their own mini adventure. Al first ironically calls this woman “Happy,” but later learns her name is Isabelle. She and her former partner Beckett are part of a squadron, “Ground 17,” from this mysterious group. During a radio call back to base, she confirms the lead (that would be Beckett) was killed in action and that she needs to refuel her helicopter before returning, but the payload is secure. The voice on the other end says he’s sending a Reclamation Team, news that causes her some anxiety. Al picks up on it. Isabelle will later tell her that when the Reclamation Team arrives, if she’s “anywhere near that helicopter… just don’t be.” Story continues Isabelle and Beckett were on a mission: retrieve supplies for purifying water. They’ve done this kind of thing all the time: get in, get the package, get out. Are they the ones who set up traps at grocery stores all around Daniel’s warehouse? We don’t know, but it doesn’t seem like it. These guys operate in the shadows. They are not supposed to be seen by anyone. “If you see someone wearing this jacket, you should be afraid,” Isabelle initially warns Al. “We are a force who are not living for ourselves or for now. We have the future.” This woman connects with Al because, like herself, Al “had a job” and “kept doing it and it mattered more” to her “than peoples’ lives.” When Isabelle and Beckett arrived at the nearby nuclear power plant — presumably the same one Grace came from with the toxic radiation — Beckett cracked, fearing he would end up like the radioactive walkers. He kept a key on him, one to a remote cabin somewhere with a great view. But, as Isabelle says in opening up to Al, nobody just walks away from their group, especially someone like Beckett with the maps he carried. A fight broke out between him and Isabelle. Part of their protocol is to “extinguish the threats to operational security.” Beckett became a threat, but Isabelle hesitated in facing her friend. But she shot him anyway. Beckett was the walker body Al initially stumbled upon, and “operational security” is why Isabelle needs the tape Al recorded. As we gather over the course of the episode, Isabelle would give her life to help this community, whatever and wherever it might be. The three rings So, what are the three rings? Who’s behind it? What’s their name? We still don’t have answers to any of these questions, but do have answers to others. “Everything I do is to ensure there’s more than stories left after I die,” Isabelle tells Al. The word “future” is also brought up a lot. Whoever these people are, their goal is to create a future for the world… by any means necessary. To Isabelle, they are the future. “It’s bigger than me, it’s bigger than you, it’s bigger than all of us,” she says. Al wants to see this place, but Isabelle warns “you don’t want to go there.” This place may be innovating for some good down the road, but right now they are hostile. “If someone finds the tape, if they figure out how to read the map, it makes what we have, what we’re working towards, vulnerable.” And that’s not a good thing. “This isn’t about me or Beckett,” Isabelle adds. “This is about the future and rebuilding what we all once had.” The group, we know, also has a lot of tech. Aside from the helicopter and Isabelle’s automatic rifle tipped with a three-pronged spear, she comes with clothing durable enough to withstand walker bites, mountain climbing supplies tucked away in the side of the chopper, and a tent that suspends in the air with rope so they can sleep without being surprise attacked by the dead. She also has access beer, so there’s a brewery where she comes from. Unless this is some brand-new group the architects of the Walking Dead universe are trying to introduce into the series, all signs, for me, keep pointing back to The Commonwealth, a highly advanced society that plays a significant role in later story arcs in the comics. It’s a group with everything from militia to coffee shops. It would also seem the reach of this group exceeds what we previously thought. We know the base lies somewhere far away from Hilltop and Alexandria, but now we know they also have refueling stations for their choppers in various locations. To refuel her own craft, Isabelle takes Al mountain climbing up the side of a cliff, avoiding rock slides and zombified mountain climbers along the way. These stations also have food and other supplies, and it’s here where Isabelle and Al share a peaceful night under the stars. Breaking protocol Despite all of her operational protocols, Isabelle takes a risk. Over the course of their trials, the two women fall for each other. As Al learns more about Isabelle and her group, she reveals something she never told anyone. There’s a tape hidden underneath the cloth of bag titled “The Bog #7.” As Isabelle watches, she hears how Al left her brother to find out more about the outbreak and watches as the National Guard and the army fight each other in the streets. Her brother died while she was doing this and the guilt has long remained with Al. Al eventually agrees to hand over the tape of Beckett’s maps to Isabelle. She hid it on a walker lying in a riverbank while she was attempting to flee through the woods. In the event she died, she wanted it to be somewhere where someone could eventually find it. But after Al hands it over and watches as it’s destroyed, Isabelle says she now needs to kill Al. It’s protocol. Al gives Isabelle “The Bog” tape and asks her to make sure this story means something. But Isabelle, with a gun pointed at Al’s head, can’t bring herself to pull the trigger. They share a deep kiss instead and go their separate ways, with Al promising not to go looking for Isabelle or to chase this story. Isabelle suits back up and carries the fuel tanks along the old utility road, which brings us back to the present where Annie and Max once hid beneath a tree when they saw a mysterious soldier. Isabelle starts flying away in her helicopter, the same chopper Morgan and the others hid from in last week’s episode, and Al starts radioing to her friends. She reunites with Morgan and Alicia, but makes no mention of Isabelle or the three rings. Instead, she claims she got overrun by walkers and has been fleeing them since. So, the secret of the three rings is safe. For now. Related content: Fear the Walking Dead recap: Rick Grimes connection confirmed Althea’s fate revealed in Fear the Walking Dead clip Watch Daniel Salazar go shopping on Fear the Walking Dead
Are Mineral Resources Limited’s (ASX:MIN) Returns On Investment Worth Your While? 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 Mineral Resources Limited (ASX:MIN) 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. Then we'll compare its ROCE to similar companies. And finally, we'll look at how its current liabilities are impacting its ROCE. ROCE measures the amount of pre-tax profits a company can generate from the capital employed in its business. Generally speaking a higher ROCE is better. Overall, it is a valuable metric that has its flaws. Author Edwin Whitingsaysto be careful when comparing the ROCE of different businesses, since 'No two businesses are exactly alike.' Analysts use this formula to calculate return on capital employed: Return on Capital Employed = Earnings Before Interest and Tax (EBIT) ÷ (Total Assets - Current Liabilities) Or for Mineral Resources: 0.11 = AU$248m ÷ (AU$2.6b - AU$372m) (Based on the trailing twelve months to December 2018.) Therefore,Mineral Resources has an ROCE of 11%. View our latest analysis for Mineral Resources ROCE is commonly used for comparing the performance of similar businesses. We can see Mineral Resources's ROCE is around the 9.5% average reported by the Metals and Mining industry. Regardless of where Mineral Resources sits next to its industry, its ROCE in absolute terms appears satisfactory, and this company could be worth a closer look. The image below shows how Mineral Resources's ROCE compares to its industry, and you can click it to see more detail on its past growth. It is important to remember that ROCE shows past performance, and is not necessarily predictive. Companies in cyclical industries can be difficult to understand using ROCE, as returns typically look high during boom times, and low during busts. ROCE is only a point-in-time measure. Remember that most companies like Mineral Resources are cyclical businesses. What happens in the future is pretty important for investors, so we have prepared afreereport on analyst forecasts for Mineral Resources. 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. Mineral Resources has total assets of AU$2.6b and current liabilities of AU$372m. As a result, its current liabilities are equal to approximately 14% of its total assets. A fairly low level of current liabilities is not influencing the ROCE too much. With that in mind, Mineral Resources's ROCE appears pretty good. Mineral Resources looks strong on this analysis,but there are plenty of other companies that could be a good opportunity. Here is afree listof companies growing earnings rapidly. If you like to buy stocks alongside management, then you might just love thisfreelist of companies. (Hint: insiders have been buying them). 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.
Errant missile from Syria-Israel clash lands on Cyprus By Michele Kambas and Daren Butler NICOSIA (Reuters) - An errant missile struck Cyprus early on Monday, skimming the densely populated capital Nicosia and crashing on a mountainside in what authorities described as a spillover from strikes between Israel and Syria. The explosion occurred around 1 a.m. (2200 GMT Sunday) in the region of Tashkent, also known as Vouno, some 20 kms (12 miles) northeast of Nicosia, with the impact starting a fire and heard for miles around. There were no casualties. But it caused widespread concern on both sides of the ethnically-split island and brought calls for warring parties to respect their neighbors' safety. An Israeli air strike was underway against Syria at the time. Syrian state media said the Syrian air defenses had fired in response. "It is understood that a missile fired from Syria fell here by accident, as a result of being fired in an uncontrolled way by batteries ... in response to the intense attacks yesterday evening by Israel," Kudret Ozersay, the Turkish Cypriot foreign minister, told a news conference. "Based on our initial assessment, it is the remains of a missile which is known as S-200 in the Russian system and SA-5 in the NATO system," he added. In a Facebook post earlier, Ozersay said the explosion was thought to have occurred before impact because there were no craters, and debris was found at several different points. Cyprus lies west of Syria, and the impact site about 50 kilometers (31 miles) inland. Israeli warplanes fired missiles targeting Syrian military positions in Homs - around 310 kilometers (193 miles) from Nicosia - and the Damascus outskirts overnight in an attack that killed at least four civilians and wounded another 21. "BEHAVE CALMLY" The freak incident was the first time that Cyprus has been caught in the crosshairs of military operations in the Middle East despite its proximity. "Undoubtedly we invite Syria, Israel and another countries in the region to take into account the human and material security of neighboring countries, to take the necessary measures and for everyone to behave calmly," said Ozersay, who is also deputy prime minister of the breakaway Turkish Cypriot state recognized only by Ankara. Story continues The incident was a wake-up call to islanders, said UniteCyprusNow, a pro-unity group. "The illusion that a permanent division on land .. will protect us from crises has been shattered with the missile that landed on our head last night," it said. Cyprus was split in a Turkish invasion in 1974 triggered by a brief Greek-inspired coup. The aging S-200 is a surface to air missile which analysts said could have a range of up to 400 kilometers (249 miles). It is one of the precursors of the S-400, the missile system Turkey plans to buy from Russia and which has rattled relations with Washington. Residents told Cypriot media they saw a light in the sky then three loud explosions were heard for miles around, which many initially thought was a plane crash. Tashkent is a small village in the foothills of a mountain range rimming northern Cyprus. Authorities evacuated some homes. (Additonal reporting by Tuvan Gumrukcu and Can Sezer; Editing by Darren Schuettler, Raissa Kasolowsky and Andrew Cawthorne)
NBA free agency: With KD and Kyrie, Nets now must get to work By the time the Brooklyn Nets bowed out to the Philadelphia 76ers in five first-round playoff games in April, two things were clear. (1) Their culture maximized the talent of their players, turning D’Angelo Russell into an All-Star and Spencer Dinwiddie into a high-level rotational piece and resuscitating Joe Harris’ fading career. [Free agency updates: Keep track of the moves, rumors, cap space and more ] (2) And well, their culture maximized the talent of their players. No developmental stone was left unturned in a season full of painstakingly individualized biometric data-mining under the tutelage of seven assistant coaches. The sense that everyone loved coming to work every day culminated in one total playoff win. The Nets’ cultural bedrock was merely an audition. On June 30, 2019, they cashed it in for cold, hard stardom — with all of its spoils and trappings — by agreeing to four-year deals with Kevin Durant and Kyrie Irving . In the modern age, winning free agency comes with a ledger of ironies that would make the FXX network blush: Russell, the fulcrum of the Nets’ audition, is on the outside looking in, like the bearded lady P.T. Barnum traded in for Jenny Lind. (One assumes the fact that the Nets were instrumental in his development and at least somewhat responsible for the massive check he will surely sign elsewhere over the next few days will ease the sting.) The Nets, under the leadership of general manager Sean Marks and coach Kenny Atkinson, spent three years developing a culture to woo a set of players who will invariably cultivate a new one, despite the fact that they presumably came aboard because they liked what they saw. On the Posted Up with Chris Haynes podcast , Durant said he wouldn’t take any free-agency pitches, because the throes of the season reveal an organization’s mettle more than any PowerPoint could. To win modern free agency is to trade the idyllic comfort of uncomplicated progress and sweat equity for some invariably hard bargains, to exchange potential for expectations, joy for responsibility and an invariable uptick in misery and stress, all in hopes of achieving the deeper, sustaining satisfaction that victory promises. The halcyon days of grassroots team-building leading to a championship are few and far between. Everyone is an asset. Just ask DeMar DeRozan. Story continues Kyrie Irving and Kevin Durant are set to be on the same side now. (AP Photo/Michael Dwyer) So it is that the team that rested its reputation on player development will work to absorb two fully developed players. The first — and possibly hardest — step is accepting the bargain and braving for new contingencies and compromises. You don’t lay the bedrock the Nets laid without seeing intrinsic value in the way you do things, but even the most fortified franchise has to accept that superstars mold franchises, not the other way around. The Nets will have to cede some control to Irving’s and Durant’s whims while stopping short of allowing either player to swallow the organization whole. The balance is tricky, the product of varying strictness and malleability, resting on compromise, trust, humility, collective will and a gallon drum of emotional intelligence, playing a factor in every decision, from who creates the last shot to how many — if any — associates board the private plane. Hell, sometimes it means you sign DeAndre Jordan on the first day of free agency. While Durant mends his torn Achilles, it’ll start with the relationship between Atkinson, an alleged point guard whisperer, and Irving, his uber-talented but mercurial new muse. Russell and Atkinson built the kind of idyllic partnership that sustained a summer in the practice facility, an overhauled diet and game-day routine, countless crunch-time benchings and film-room admonishments, and turned Russell into an All-Star. But Irving is already an All-Star who likely doesn’t want or need to ride pine when the game is on the line. More importantly, he’s not a wide-eyed and bushy-tailed first-contract player. By their second and third contracts, even the most earnest players have the “Kumbaya” washed out of them. They’ve sat across their own team at the negotiation table. They’re hungry to make more money than their brothers in arms. In the end, every relationship is a negotiation. Veterans demand more than rookie-scale players, and coaching them requires a wholly different skillset. Atkinson, whose coaching staff signed extensions prior to the playoffs, will have to prove he is equally adept at handling both. Maybe he can call up Brad Stevens and ask for a list of don’ts. Maybe Irving himself can take away some lessons from his quixotic quest to find himself in Boston, which leads to another set of unknowns: What do Irving and Durant ultimately want? In the end, Irving’s and Durant’s collective baggage is low-grade compared to their talents, and their love affair with the game is unmatched. They are compulsive about improvement, obsessively mastering minute details and chasing every lead, a trait they share with their new organization, where the practice facility in Industry City often has the feel of a lab experiment. It’s telling that they spurned the Knicks , who offered a bigger spotlight and would readily hand over the keys to the franchise, but offered none of the Nets’ stability. At the very least, that means they think they want what the Nets culture has to offer: a focus on basketball above all else. The coming years will reveal if that’s true. More from Yahoo Sports: World Cup: England’s coach praises Rapinoe's character Mets put living players in ‘In Memoriam’ montage Gronk's physical appearance sends a clear message about retirement Here are the full rosters for the 2019 MLB All-Star Game
Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 01/07/19 Bitcoin Cash ABC tumbled by 10.4% on Sunday. Reversing a 2.19% gain from Saturday, Bitcoin Cash ABC ended the week down 15.7% at $396.33. The sell-off left Bitcoin Cash ABC down by 10.5% for the month of June. A choppy morning saw Bitcoin Cash ABC rise to an early intraday high $446.9 before hitting reverse. Falling short of the first major resistance level at $449.99, Bitcoin Cash ABC slid to a late afternoon low $396.36 before finding support. The reversal saw Bitcoin Cash ABC fall through the first major support level at $421.59 and second major support level at $402.91. Of greater significance was the fall through the 23.6% FIB of $418. A late recovery to $416 levels was short-lived. Bitcoin Cash ABC slid back through the second major support level to an intraday low $396.33. At the time of writing, Bitcoin Cash ABC was up by 3.41% to $409.85. A bullish start to the day saw Bitcoin Cash ABC rises from a morning low $396.0 to a high $410.11 before easing back. Bitcoin Cash ABC left the major support and resistance levels untested early on, while also falling short of the 23.6% FIB of $418. For the day ahead, a move through the 23.6% FIB would bring the first major resistance level at $430.04 into play. Bitcoin Cash ABC would need the support of the broader market, however, to break out from $418 levels. Failure to move through the 23.6% FIB could see Bitcoin Cash ABC hit reverse later in the day. A fall through the morning low $396 would bring the first major support level at $379.47 into play. Barring a crypto meltdown, Bitcoin Cash ABC should steer clear of sub-$370 support levels on the day. Litecoin fell by 8.4% on Sunday. Partially reversing an 11.58% rally from Saturday, Litecoin ended the week down 10.7% at $122.06. The reversal left Litecoin with just a 6.7% gain for the month of June. A mixed start to the day saw Litecoin recover from a morning low $126.0 to strike a late morning intraday high $136.81. Falling short of the first major resistance level at $141.47, Litecoin tumbled to a late intraday low $119.03. Finding support at the first major support level at $119.97, Litecoin recovered to $122 levels at the day end. At the time of writing, Litecoin was up by 1.61% to $124.02. Tracking the broader market, Litecoin rose from a morning low $120.52 to a high $125.56 before easing back. Litecoin left the major support and resistance levels untested early on. For the day ahead, a move through the morning high to $126 levels would support a run at $130 levels on the day. In the event of an extended rally through the day, Litecoin would likely test the first major resistance level at $132.81. Failure to move back through the morning high could see Litecoin hit reverse. A fall through the morning low $120.52 could see Litecoin test support at the 23.6% FIB of $117. Barring a crypto meltdown, the first major support level at $115.3 should limit any downside in the event of a reversal. Ripple’s XRP fell by 7.4% on Sunday. Reversing a 0.64% gain from Saturday, Ripple’s XRP ended the week down 16.2% at $0.3943. Ripple’s XRP ended the month of June down 9.9%. Bearish through the morning, Ripple’s XRP fell from an intraday high $0.4287 to a final hour intraday low $0.393. Falling well short of the major resistance levels, Ripple’s XRP fell through the 23.6% FIB of $0.4164 and first major support level at $0.4083. It was the first time since 13thJune that Ripple’s XRP ended the day at sub-$0.40 levels… At the time of writing, Ripple’s XRP was up by 4.64% to $0.41260. A particularly bullish start to the day saw Ripple’s XRP rise from a morning low $0.39013 to a high $0.4160. While falling short of the first major resistance level at $0.4177, the 23.6% FIB of $0.4164 pinned Ripple’s XRP back early on. For the day ahead, a break through the 23.6% FIB would support a rebound on the day. Barring an extended crypto rally, however, the first major resistance level at $0.4177 would likely leave $0.42 levels out of reach. Failure to move through the 23.6% FIB could see Ripple’s XRP hit reverse. A fall through to $0.4050 levels would bring sub-$0.40 levels back into play. Barring a crypto sell-off, Ripple’s XRP should steer clear of the first major support level at $0.3820. Please let us know what you think in the comments below Thanks, Bob Thisarticlewas originally posted on FX Empire • Gold Price Futures (GC) Technical Analysis – Big Decision for Bulls on Test of $1383.30 to $1369.20 • NZD/USD Forex Technical Analysis – July 2, 2019 Forecast • Crude Oil Price Update – Straddling Retracement Zone at $58.51 to $60.33 • Asia Markets Take a Respite • DASH Technical Analysis – Support Levels in Play –02/07/19 • G20 News Drive Big Moves In The Markets
Taylor Swift Seemingly Confirmed Justin Bieber Cheated on Selena Gomez From ELLE Taylor Swift's drama with Scooter Braun and Justin Bieber has only escalated tonight after Bieber responded to Swift's open letter about Braun buying her music catalog. Calling it the "worst case scenario,” she wrote, "All I could think about was the incessant, manipulative bullying I’ve received at his hands for years." Bieber defended Braun ("As the years have passed we haven’t crossed paths and gotten to communicate our differences, hurts or frustrations. So for you to take it to social media and get people to hate on scooter isn’t fair"), and the shots got personal over on Swift's Tumblr . Photo credit: Jeff Kravitz/AMA2011 - Getty Images She liked a lot of posts from fans calling out Bieber and Braun's problematic behavior-and one of them seemed to confirm that Bieber cheated on Swift's best friend Selena Gomez. The Tumblr post said, "'we haven't gotten to communicate our differences' you cheated on her best friend and then publicly sided with the man who made revenge porn against her was she supposed to invite you over for tea??? Fuck outta here." It remains liked on Swift's page, and Twitter quickly noticed that Swift seemingly hinted that was an issue between Gomez and Bieber in their on-again, off-again romance . (Bieber and Gomez ended their relationship in March last year; Bieber got married to Hailey Baldwin in September 2018.) Photo credit: Tumblr taylor literally confirmed that j*stin cheated on selena💀💀💀 pic.twitter.com/SOZUXFTszn - cindy (@cloudysel) June 30, 2019 This is not new news: Bieber himself hinted in November 2015 that he cheated on Gomez. "We were working out how to be in a relationship, how to be ourselves, who we were, in the middle of having people judge our relationship through the media," he told i-d magazine at the time of their relationship. "I think that really messed my head up too. Because then, it’s like trust and all this other stuff that starts messing with your mind. You’re on the road. And there are beautiful women on the road. And you’re just getting yourself into trouble..." Story continues Swift has not responded to Bieber on his Instagram post directly, but her friend Cara Delevingne defended her earlier. Here, what Bieber wrote to her: View this post on Instagram Hey Taylor. First of all i would like to apologize for posting that hurtful instagram post, at the time i thought it was funny but looking back it was distasteful and insensitive.. I have to be honest though it was my caption and post that I screenshoted of scooter and Kanye that said “taylor swift what up” he didnt have anything to do with it and it wasnt even a part of the conversation in all actuality he was the person who told me not to joke like that.. Scooter has had your back since the days you graciously let me open up for you.! As the years have passed we haven’t crossed paths and gotten to communicate our differences, hurts or frustrations. So for you to take it to social media and get people to hate on scooter isn’t fair. What were you trying to accomplish by posting that blog? seems to me like it was to get sympathy u also knew that in posting that your fans would go and bully scooter. Anyway, One thing i know is both scooter and i love you. I feel like the only way to resolve conflict is through communication. So banter back and fourth online i dont believe solves anything. I’m sure Scooter and i would love to talk to you and resolve any conflict, pain or or any feelings that need to be addressed. Neither scooter or i have anything negative to say about you we truly want the best for you. I usually don’t rebuttal things like this but when you try and deface someone i loves character thats crossing a line.. A post shared by Justin Bieber (@justinbieber) on Jun 30, 2019 at 2:54pm PDT ('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
Taylor Swift's BFF Todrick Hall Calls Scooter Braun an 'Evil Person,' Slams His Wife & Hailey Baldwin Todrick Hall is speaking out in defense of Taylor Swift . The singer's BFF took to Twitter on Sunday to make his opinion of Scooter Braun clear, after Swift slammed the music manager in a scathing Tumblr post, accusing him of bullying her by purchasing her music catalog through the acquisition of her former record label, Big Machine. ET has reached out to Braun for comment. Hall, who used to be managed by Braun, has been friends with Swift for years, and co-executive produced her most recent music video, "You Need to Calm Down." In his tweets on Sunday, he accused Braun of being homophobic and called him an "evil person." "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," Hall wrote. "I truly hope justice is served and that my friend’s music will fall into the hands of a better human." 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 truly hope justice is served and that my friend’s music will fall into the hands of a better human. — Todrick Hall (@todrick) June 30, 2019 While Braun has yet to speak out on Swift's claims, his wife, Yael, called the singer out on Instagram, accusing her of "attacking my husband." She noted that the GRAMMY winner had passed on owning her own masters, and alleged that she was notified of Big Machine's sale to Braun ahead of time. A source close to the deal claimed to ET that Big Machine CEO Borchetta sent Swift a message about the sale on Saturday. The source also said shareholders of the record company, reportedly including Swift's father, were informed of the sale on Tuesday. Story continues Yael's post came soon after one by Justin Bieber, in which he apologized to Swift for his years-old Instagram post, but also accused her of "crossing a line" in making her beef with Braun public. Bieber's wife, Hailey, commented with "gentlemen." Hall directed his next tweet at Yael and Hailey. "Also........Men sending women in (their wives) to carry out their patriarchal bullsh*t is the worst form of feminist and human betrayal of all time - looking at you Yael and Hailey," he wrote. "I would normally not say anything because I’m sure scooter will threaten me like he has before to keep me quiet, but guess what Scooter, nothing you can do to me would be worst than the 6 years of my life I can’t get back from when & I was ignored as your artist,'" Hall concluded. Also........Men sending women in (their wives) to carry out their patriarchal bullshit is the worst form of feminist and human betrayal of all time - looking at you Yael and Hailey — Todrick Hall (@todrick) July 1, 2019 I would normally not say anything because I’m sure scooter will threaten me like he has before to keep me quiet, but guess what Scooter, nothing you can do to me would be worst than the 6 years of my life I can’t get back from when & I was ignored as your “artist” — Todrick Hall (@todrick) July 1, 2019 Allison Scarinzi, Braun's partner at SB Projects, clapped back at Todrick over his accusations. "@todrick this is disgusting and defamatory statement. We dropped you after finding out you were stealing from your fans on your Christmas tour. Scooter has been nothing but supportive of all disenfranchised groups. He is against dishonesty. Not those living in their truth," she wrote. @todrick this is disgusting and defamatory statement. We dropped you after finding out you were stealing from your fans on your Christmas tour. Scooter has been nothing but supportive of all disenfranchised groups. He is against dishonesty. Not those living in their truth. — Allison K Scarinzi (@AllisonKaye) July 1, 2019 In response, Hall tweeted: "Welp, I guess they let me go...also I’d like to say this was TWO YEARS after I did the Christmas tour and supposedly stole from my fans." Welp, I guess they let me go...also I’d like to say this was TWO YEARS after I did the Christmas tour and supposedly stole from my fans 🙄 pic.twitter.com/CEzL7Gluvh — Todrick Hall (@todrick) July 1, 2019 Later, Demi Lovato -- who'd already taken to her Instagram story to defend Braun, who is her manager -- responded to Hall's comments in which he claimed Braun was "homophobic." "Hey boo, idk you or anything and this isn't hate, but making claims that someone is homophobic is really serious. Please don't spread information that isn't true because I can guarantee you Scooter isn't," Lovato wrote. "As a member of the LBGTQ+ community myself, he wouldn't have signed me if he was. No hate just trying to clear that up." Todrick Hall/Instagram Hall quickly responded on Twitter, tweeting, "I love you and listen to your music religiously, but... you cannot compare your experience to mine, especially with someone I was with for six years and you've only just signed with." Dear Demi, first off...why did you delete your tweet? Secondly, I love you and listen to your music religiously, but thirdly, you cannot compare your experience to mine, especially with someone I was with for six years and you've only just signed with. — Todrick Hall (@todrick) July 1, 2019 PSA, Just because you have a black friend doesn't mean you can't still be racist. And just because you're not picketing against gay marriage doesn't mean you're not homophobic. I said what I said and I believe what I believe. — Todrick Hall (@todrick) July 1, 2019 "Just because you have a black friend doesn't mean you can't still be racist. And just because you're not picketing against gay marriage doesn't mean you're not homophobic. I said what I said and I believe what I believe," Hall continued in a series of additional tweets. "Being black and gay in this industry is hard as hell, and was even harder when I signed with that man and unless someone has walked in my shoes...I don't care to compare their experiences to mine. Period!" Being black and gay in this industry is hard as hell, and was even harder when I signed with that man and unless someone has walked in my shoes...I don't care to compare their experiences to mine. Period! — Todrick Hall (@todrick) July 1, 2019 Dozens of celebs have seemingly weighed in on the drama , including Halsey, Charlie Puth, Cara Delevingne, Olivia Munn and more. See more on Swift in the video below. RELATED CONTENT: Celebs Take Sides After Taylor Swift Drops Scooter Braun Bombshell: Halsey, Justin Bieber and More Weigh In Justin Bieber Accuses Taylor Swift of 'Crossing a Line' in Apology Over Scooter Braun Drama Taylor Swift Accuses Scooter Braun of 'Bullying' Her After He Purchases Her Masters Related Articles: Hollywood Bikini Bods Over 40 Biggest Celebrity Breakups of 2019 -- So Far! Celebrities in Their Underwear
Big Machine’s Scott Borchetta Fires Back at Taylor Swift, Reveals Deal Memos Click here to read the full article. Scott Borchetta , the founder of Big Machine Label Group, which this morning announced a deal to be acquired by Scooter Braun’s Ithaca Holdings, has fired back at Taylor Swift for insinuating that she was not able to purchase back rights to her master recordings. A key point in the documents that he posted may refute Swift’s claim that she was only offered the rights to each of her previous six albums one at a time , as she turned in new albums to Big Machine, although Borchetta’s documentation is not complete. A rep for Swift did not immediately respond to Variety ‘s request for comment. “So, it’s time for some truth…,” wrote Borchetta in a lengthy blog post published via the BMLG website which included screen shots of deal memos allegedly sent between November 2018 and June 2019. The deal was voted on between June 25 and 28 during which, Borchetta says, all participants were allowed to go over the details of the transactions. Read on for his blog post reprinted in its entirety: Related stories Taylor Swift Vs. Scooter Braun: Will Ariana Grande Weigh In and What Happens Next? Justin Bieber Criticizes Taylor Swift for 'Crossing a Line' With Scooter Braun Post Taylor Swift's Masters, Scooter Braun's 'Bullying': Inside the Big Machine-Ithaca Deal “It’s time to set some things straight. Taylor’s dad, Scott Swift, was a shareholder in Big Machine Records, LLC. We first alerted all of the shareholders on Thursday, June 20th for an official shareholder’s call scheduled for Tuesday, June 25. On the 6/25 call the shareholders were made aware of the pending deal with Ithaca Holdings and had 3 days to go over all of the details of the proposed transaction. We then had a final call on Friday, June 28th in which the transaction passed with a majority vote and 3 of the 5 shareholders voting ‘yes’ with 92% of the shareholder’s vote. Story continues “Out of courtesy, I personally texted Taylor at 9:06 p.m., Saturday, June 29 to inform her prior to the story breaking on the morning of Sunday, June 30 so she could hear it directly from me. “I guess it might somehow be possible that her dad Scott, 13 Management lawyer Jay Schaudies (who represented Scott Swift on the shareholder calls) or 13 Management executive and Big Machine LLC shareholder Frank Bell (who was on the shareholder calls) didn’t say anything to Taylor over the prior 5 days. I guess it’s possible that she might not have seen my text [as a rep claimed]. But, I truly doubt that she ‘woke up to the news when everyone else did.’ “I am attaching a few very important deal points in what was part of our official last offer to Taylor Swift to remain at Big Machine Records. Her 13 Management team and attorney Don Passman went over this document in great detail and reported the terms to her in great detail. “Taylor and I then talked through the deal together. “As you will read, 100% of all Taylor Swift assets were to be transferred to her immediately upon signing the new agreement. We were working together on a new type of deal for our new streaming world that was not necessarily tied to ‘albums’ but more of a length of time. “We are an independent record company. We do not have tens of thousands of artists and recordings. My offer to Taylor, for the size of our company, was extraordinary. But it was also all I could offer as I am responsible for dozens of artists’ careers and over 120 executives and their families. “Taylor and I remained on very good terms when she told me she wanted to speak with other record companies and see what was out there for her. I never got in her way and wished her well. “The morning that the new Taylor/UMG announcement was going to be made, she texted me shortly before letting me know that the announcement was coming in a few minutes. “As we both posted on our socials, we saluted each other and cheered each other on. “Taylor had every chance in the world to own not just her master recordings, but every video, photograph, everything associated to her career. She chose to leave. “As to her comments about ‘being in tears or close to it’ anytime my new partner Scooter Braun’s name was brought up, I certainly never experienced that. Was I aware of some prior issues between Taylor and Justin Bieber? Yes. But there were also times where Taylor knew that I was close to Scooter and that Scooter was a very good source of information for upcoming album releases, tours, etc, and I’d reach out to him for information on our behalf. Scooter was never anything but positive about Taylor. He called me directly about Manchester to see if Taylor would participate (she declined). “He called me directly to see if Taylor wanted to participate in the Parkland March (she declined). Scooter has always been and will continue to be a supporter and honest custodian for Taylor and her music. “This is the text Taylor sent to me on Monday, November 19 th at 8:57 a.m.: Scott, I hope this finds you well. Since communication ran dry on our negotiations, I’ve done what I told you I would do and gone out exploring other options. Owning my masters was very important to me, but I’ve since realized that there are things that mean even more to me in the bigger picture. I had a choice whether to bet on my past or to bet on the future and I think knowing me, you can guess which one I chose. I also saw a rare opportunity to effect positive change for a lot of other artists with the leverage I have right now. I know you believe in the same things I do and I’d like to think you would be proud of what I’ve negotiated for in my deal. I wanted to tell you first that I’ll be signing with Lucian. I honestly truly cherish everything you and I have built together and I plan on saying so in my announcement of the new deal. What we accomplished together will be a lasting legacy and a case study on excellent partnerships, and may it continue. I still view you as a partner and friend and I hope you feel the same. Sending you a hug and my most sincere gratitude. And SO much love, Taylor “Here is the text I sent on the evening of June 29 at 9:05pm: “Dear Taylor, “Hope all is well and congratulations on the success of your first two singles from “Lover”! “I can’t wait to hear the entire album… “I wanted to pass along to you the same courtesy that you passed along to me in regard to my future. “Tomorrow morning (Sunday, June 30th) at 10 a.m. central, the Wall Street Journal will announce that I am entering into a merger/acquisition with Scooter Braun and Ithaca Holdings. This move will give us more pop culture super-power than ever before and I’m so excited about the future. “I want you to know that I will continue to be the proud custodian of your previous works and will continue to keep you and your team abreast of all future plans for releases of you work. “Nothing but the best, “Scott Screen shot of deal points: RELATED VIDEO: Sign up for Variety’s Newsletter . For the latest news, follow us on Facebook , Twitter , and Instagram .
Is Oil Search Limited (ASX:OSH) A Smart Pick For Income Investors? Want to participate in ashort research study? Help shape the future of investing tools and you could win a $250 gift card! Could Oil Search Limited (ASX:OSH) be an attractive dividend share to own for the long haul? Investors are often drawn to strong companies with the idea of reinvesting the dividends. If you are hoping to live on your dividends, it's important to be more stringent with your investments than the average punter. Regular readers know we like to apply the same approach to each dividend stock, and we hope you'll find our analysis useful. A 2.1% yield is nothing to get excited about, but investors probably think the long payment history suggests Oil Search has some staying power. Some simple analysis can reduce the risk of holding Oil Search for its dividend, and we'll focus on the most important aspects below. Click the interactive chart for our full dividend analysis Companies (usually) pay dividends out of their earnings. If a company is paying more than it earns, the dividend might have to be cut. So we need to form a view on if a company's dividend is sustainable, relative to its net profit after tax. Oil Search paid out 47% of its profit as dividends, over the trailing twelve month period. This is a middling range that strikes a nice balance between paying dividends to shareholders, and retaining enough earnings to invest in future growth. One of the risks is that management reinvests the retained capital poorly instead of paying a higher dividend. We also measure dividends paid against a company's levered free cash flow, to see if enough cash was generated to cover the dividend. Oil Search paid out 249% of its free cash flow last year, which we think is concerning if cash flows do not improve. Paying out such a high percentage of cash flow suggests that the dividend was funded from either cash at bank or by borrowing, neither of which is desirable over the long term. While Oil Search's dividends were covered by the company's reported profits, free cash flow is somewhat more important, so it's not great to see that the company didn't generate enough cash to pay its dividend. Cash is king, as they say, and were Oil Search to repeatedly pay dividends that aren't well covered by cashflow, we would consider this a warning sign. As Oil Search has a meaningful amount of debt, we need to check its balance sheet to see if the company might have debt risks. A rough way to check this is with these two simple ratios: a) net debt divided by EBITDA (earnings before interest, tax, depreciation and amortisation), and b) net interest cover. Net debt to EBITDA measures total debt load relative to company earnings (lower = less debt), while net interest cover measures the ability to pay interest on the debt (higher = greater ability to pay interest costs). With net debt of 2.66 times its EBITDA, Oil Search has a noticeable amount of debt, although if business stays steady, this may not be overly concerning. Net interest cover can be calculated by dividing earnings before interest and tax (EBIT) by the company's net interest expense. Interest cover of 3.71 times its interest expense is starting to become a concern for Oil Search, and be aware that lenders may place additional restrictions on the company as well. Consider gettingour latest analysis on Oil Search's financial position here. One of the major risks of relying on dividend income, is the potential for a company to struggle financially and cut its dividend. Not only is your income cut, but the value of your investment declines as well - nasty. For the purpose of this article, we only scrutinise the last decade of Oil Search's dividend payments. This dividend has been unstable, which we define as having fallen by at least 20% one or more times over this time. During the past ten-year period, the first annual payment was US$0.08 in 2009, compared to US$0.10 last year. This works out to be a compound annual growth rate (CAGR) of approximately 2.8% a year over that time. Oil Search's dividend payments have fluctuated, so it hasn't grown 2.8% every year, but the CAGR is a useful rule of thumb for approximating the historical growth. It's good to see some dividend growth, but the dividend has been cut at least once, and the size of the cut would eliminate most of the growth, anyway. We're not that enthused by this. With a relatively unstable dividend, it's even more important to evaluate if earnings per share (EPS) are growing - it's not worth taking the risk on a dividend getting cut, unless you might be rewarded with larger dividends in future. Earnings have grown at around 7.8% a year for the past five years, which is better than seeing them shrink! It's good to see decent earnings growth and a low payout ratio. Companies with these characteristics often display the fastest dividend growth over the long term - assuming earnings can be maintained, of course. To summarise, shareholders should always check that Oil Search's dividends are affordable, that its dividend payments are relatively stable, and that it has decent prospects for growing its earnings and dividend. Firstly, the company has a conservative payout ratio, although we'd note that its cashflow in the past year was substantially lower than its reported profit. Unfortunately, earnings growth has also been mediocre, and the company has cut its dividend at least once in the past. In sum, we find it hard to get excited about Oil Search from a dividend perspective. It's not that we think it's a bad business; just that there are other companies that perform better on these criteria. Earnings growth generally bodes well for the future value of company dividend payments. See if the 14 Oil Search analysts we track are forecasting continued growth with ourfreereport on analyst estimates for the company. If you are a dividend investor, you might also want to look at ourcurated list of dividend stocks yielding above 3%. 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 Oil Search (ASX:OSH) Share Price Is Down 28% So Some Shareholders Are Getting Worried Want to participate in ashort research study? Help shape the future of investing tools and you could win a $250 gift card! For many, the main point of investing is to generate higher returns than the overall market. But the main game is to find enough winners to more than offset the losers At this point some shareholders may be questioning their investment inOil Search Limited(ASX:OSH), since the last five years saw the share price fall 28%. Shareholders have had an even rougher run lately, with the share price down 11% in the last 90 days. See our latest analysis for Oil Search There is no denying that markets are sometimes efficient, but prices do not always reflect underlying business performance. One flawed but reasonable way to assess how sentiment around a company has changed is to compare the earnings per share (EPS) with the share price. Oil Search became profitable within the last five years. That would generally be considered a positive, so we are surprised to see the share price is down. Other metrics may better explain the share price move. Revenue is actually up 3.6% over the time period. A more detailed examination of the revenue and earnings may or may not explain why the share price languishes; there could be an opportunity. You can see below how earnings and revenue have changed over time (discover the exact values by clicking on the image). Oil Search is well known by investors, and plenty of clever analysts have tried to predict the future profit levels. So we recommend checking out thisfreereport showing consensus forecasts When looking at investment returns, it is important to consider the difference betweentotal shareholder return(TSR) andshare price return. 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. So for companies that pay a generous dividend, the TSR is often a lot higher than the share price return. As it happens, Oil Search's TSR for the last 5 years was -22%, which exceeds the share price return mentioned earlier. This is largely a result of its dividend payments! Oil Search shareholders are down 19% for the year (even including dividends), but the market itself is up 11%. 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. Unfortunately, last year's performance may indicate unresolved challenges, given that it was worse than the annualised loss of 4.7% over the last half decade. We realise that Buffett has said investors should 'buy when there is blood on the streets', but we caution that investors should first be sure they are buying a high quality businesses. Before spending more time on Oil Searchit might be wise to click here to see if insiders have been buying or selling shares. Of course,you might find a fantastic investment by looking elsewhere.So take a peek at thisfreelist of companies we expect will grow earnings. Please note, the market returns quoted in this article reflect the market weighted average returns of stocks that currently trade on AU 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.
How Does OZ Minerals Limited (ASX:OZL) Affect Your Portfolio Volatility? Want to participate in ashort research study? Help shape the future of investing tools and you could win a $250 gift card! If you own shares in OZ Minerals Limited (ASX:OZL) then it's worth thinking about how it contributes to the volatility of your portfolio, overall. In finance, Beta is a measure of volatility. Modern finance theory considers volatility to be a measure of risk, and there are two main types of price volatility. The first type is company specific volatility. Investors use diversification across uncorrelated stocks to reduce this kind of price volatility across the portfolio. The second type is the broader market volatility, which you cannot diversify away, since it arises from macroeconomic factors which directly affects all the stocks on the market. Some stocks are more sensitive to general market forces than others. Some investors use beta as a measure of how much a certain stock is impacted by market risk (volatility). While we should keep in mind that Warren Buffett has cautioned that 'Volatility is far from synonymous with risk', beta is still a useful factor to consider. To make good use of it you must first know that the beta of the overall market is one. A stock with a beta greater than one is more sensitive to broader market movements than a stock with a beta of less than one. See our latest analysis for OZ Minerals Given that it has a beta of 0.89, we can surmise that the OZ Minerals share price has not been strongly impacted by broader market volatility (over the last 5 years). This suggests that including it in your portfolio will reduce volatility arising from broader market movements, assuming your portfolio's weighted average beta is higher than 0.89. Beta is worth considering, but it's also important to consider whether OZ Minerals is growing earnings and revenue. You can take a look for yourself, below. OZ Minerals is a reasonably big company, with a market capitalisation of AU$3.2b. Most companies this size are actively traded with decent volumes of shares changing hands each day. When large companies like this one have a low beta value, there is usually some other factor that is having an outsized impact on the share price. For example, a business with significant fixed regulated assets might earn a reasonably predictable return, regardless of broader macroeconomic factors. Alternatively, lumpy earnings might mean minimal share price correlation with the broader market. The OZ Minerals doesn't usually show much sensitivity to the broader market. This could be for a variety of reasons. Typically, smaller companies have a low beta if their share price tends to move a lot due to company specific developments. Alternatively, an strong dividend payer might move less than the market because investors are valuing it for its income stream. In order to fully understand whether OZL is a good investment for you, we also need to consider important company-specific fundamentals such as OZ Minerals’s financial health and performance track record. I urge you to continue your research by taking a look at the following: 1. Future Outlook: What are well-informed industry analysts predicting for OZL’s future growth? Take a look at ourfree research report of analyst consensusfor OZL’s outlook. 2. Past Track Record: Has OZL been consistently performing well irrespective of the ups and downs in the market? Go into more detail in the past performance analysis and take a look atthe free visual representations of OZL's historicalsfor more clarity. 3. Other Interesting Stocks: It's worth checking to see how OZL measures up against other companies on valuation. You could start with thisfree list of prospective options. 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.
Monero Technical Analysis – Resistance Levels in Play – 01/07/19 • Monero’s XMR tumbled by 12.1% on Sunday. Following on from a 1.77% fall on Saturday Monero’s XMR ended the day at $87.68. • An early morning intraday high $100.39 saw Monero’s XMR fall short of the first major resistance level at $103.38 • A late intraday low $86.63 saw Monero’s XMR fall through the first major support level at $94.47 and second major support level at $89.13. • The extended bearish trend, formed at late April’s swing hi $298, remained firmly intact. Monero’s XMR fell back through the 23.6% FIB of $99, after having continued to fall short of the 38.2% FIB of $137. How to Buy Monero’s XMR Monero’s XMR tumbled by 12.1% on Sunday. Following on from a 1.77% loss on Saturday, Monero’s XMR ended the week down 23.5% at $87.68. The last week of June sell-off left Monero’s XMR down by 6.1% for the month. Bearish through the morning, Monero’s XMR slid from an early intraday high $100.39 to a late afternoon low $89.5. Falling short of the major resistance levels, Monero’s XMR fell through the first major support level at $94.47. Finding support at the second major support level at $89.13, Monero’s XMR recovered to $94 levels before a late sell-off. The late sell-off saw Monero’s XMR fall through the first major support level and second major support level at $89.13. Of greater significance on the day was the fall through the 23.6% FIB of $99. For Monero’s XMR, the extended bearish trend formed at late April 2018’s swing hi $298 remained intact. The pullback through the 23.6% FIB of $99 reaffirmed the extended bearish trend, following 15thDecember’s swing lo $37.18. For the bulls, a move back through the 23.6% FIB of $99 to $115 levels would be needed to support a run at $140 levels. A move through the 38.2% FIB would see Monero’s XMR form a near-term bullish trend. At the time of writing, Monero’s XMR was up by 1.92% to $89.36. A relatively bullish day saw Monero’s XMR rise from a morning low $87.13 to a high $90.37 before easing back. Monero’s XMR left the major support and resistance levels and the 23.6% FIB of $99 untested early on. A move through the morning high $90.37 to $91.6 levels would support a run at the first major resistance level at $96.50. Monero’s XMR would need the support of the broader market, however, to break out from $92 levels on the day. In the event of an extended crypto rally through the day, the 23.6% FIB of $99 would likely leave Monero’s XMR short of Sunday’s high $100.39. Failure to move through to $91.6 levels could see Monero’s XMR hit reverse. A fall through the morning low $87.13 would bring the first major support level at $82.74 into play. Barring another crypto meltdown, Monero’s XMR should steer clear of sub-$80 support levels on the day. Major Support Level: $82.74 Major Resistance Level: $96.50 23.6% FIB Retracement Level: $99 38.2% FIB Retracement Level: $137 62% FIB Retracement Level: $198 Please let us know what you think in the comments below. Thanks, Bob Thisarticlewas originally posted on FX Empire • Gold Price Prediction – Gold Tumbles as Geopolitics Eases • Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 02/07/19 • The Crypto Daily – The Movers and Shakers 02/07/19 • Asia Markets Take a Respite • The RBA Cuts Rates as Trump Talks of Tariffs on EU Goods • Natural Gas Price Prediction – Prices Slide but Remain Range Bound
How Does Hi-P International Limited (SGX:H17) Fare As A Dividend Stock? 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 take a closer look at Hi-P International Limited (SGX:H17) from a dividend investor's perspective. Owning a strong business and reinvesting the dividends is widely seen as an attractive way of growing your wealth. If you are hoping to live on your dividends, it's important to be more stringent with your investments than the average punter. Regular readers know we like to apply the same approach to each dividend stock, and we hope you'll find our analysis useful. With Hi-P International yielding 3.6% and having paid a dividend for over 10 years, many investors likely find the company quite interesting. It would not be a surprise to discover that many investors buy it for the dividends. The company also bought back stock equivalent to around 0.9% of market capitalisation this year. When buying stocks for their dividends, you should always run through the checks below, to see if the dividend looks sustainable. Click the interactive chart for our full dividend analysis Dividends are typically paid from company earnings. If a company pays more in dividends than it earned, then the dividend might become unsustainable - hardly an ideal situation. Comparing dividend payments to a company's net profit after tax is a simple way of reality-checking whether a dividend is sustainable. Hi-P International paid out 40% of its profit as dividends, over the trailing twelve month period. This is a middling range that strikes a nice balance between paying dividends to shareholders, and retaining enough earnings to invest in future growth. Plus, there is room to increase the payout ratio over time. We also measure dividends paid against a company's levered free cash flow, to see if enough cash was generated to cover the dividend. Hi-P International's cash payout ratio in the last year was 38%, which suggests dividends were well covered by cash generated by the business. It's positive to see that Hi-P International's dividend is covered by both profits and cash flow, since this is generally a sign that the dividend is sustainable, and a lower payout ratio usually suggests a greater margin of safety before the dividend gets cut. We update our data on Hi-P International every 24 hours, so you can always getour latest analysis of its financial health, here. One of the major risks of relying on dividend income, is the potential for a company to struggle financially and cut its dividend. Not only is your income cut, but the value of your investment declines as well - nasty. For the purpose of this article, we only scrutinise the last decade of Hi-P International's dividend payments. The dividend has been cut by more than 20% on at least one occasion historically. During the past ten-year period, the first annual payment was S$0.022 in 2009, compared to S$0.05 last year. This works out to be a compound annual growth rate (CAGR) of approximately 8.6% a year over that time. The dividends haven't grown at precisely 8.6% every year, but this is a useful way to average out the historical rate of growth. It's good to see the dividend growing at a decent rate, but the dividend has been cut at least once in the past. Hi-P International might have put its house in order since then, but we remain cautious. Given that the dividend has been cut in the past, we need to check if earnings are growing and if that might lead to stronger dividends in the future. It's good to see Hi-P International has been growing its earnings per share at 75% a year over the past 5 years. With high earnings per share growth in recent times and a modest payout ratio, we think this is an attractive combination if earnings can be reinvested to generate further growth. Dividend investors should always want to know if a) a company's dividends are affordable, b) if there is a track record of consistent payments, and c) if the dividend is capable of growing. It's great to see that Hi-P International is paying out a low percentage of its earnings and cash flow. Next, earnings growth has been good, but unfortunately the dividend has been cut at least once in the past. Overall we think Hi-P International scores well on our analysis. It's not quite perfect, but we'd definitely be keen to take a closer look. Are management backing themselves to deliver performance? Check their shareholdings in Hi-P International inour latest insider ownership analysis. Looking for more high-yielding dividend ideas? Try ourcurated list of dividend stocks with a yield above 3%. 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.
Yuima Nakazato Couture Fall 2019 Click here to read the full article. Pushing further into experimental territory, Japanese designer Yuima Nakazato revisited the transformable silhouettes he created in seasons past using innovative materials that featured “Brewed Protein,” a sustainable fiber developed by Japanese biotech start-up Spiber using a process not dissimilar to beer manufacturing to create artificial proteins. Set against a backdrop that included a shower of gold particles suspended in mid-air — a sculpture titled “Goldrain,” by Japanese contemporary art studio The Eugene, meant to nod to the mechanisms that created our planet — he mixed and matched materials, delivering a cohort of pared back shift dresses, color-blocked separates and outerwear with a sporty edge about them. Related stories Paris Scene: What's New for Couture Season Ralph Rucci to Return to the Couture Calendar in Paris With RR331 Label Sustainable Fashion Is in Style Visible seams, openings and partially detached panels made good use on the promise of the Type-1 snap closure in delivering adaptable, modifiable-on-the-go garments. Backstage, the designer reiterated that he wanted to “design a new relationship between humans and clothes,” explaining that this fiber shared properties with human skin and that it could be “not a second skin, but become part of your skin.” Nakazato further looked to the human body for inspiration, basing his color palette on a range of natural skin tones, from fair to deep. The red touch was the hue of blood, “everyone has the same color,” he said. “That’s why we made it into the symbol of the collection.” While trans-humanist modifications were not yet in his line sheet, Nakazato’s textiles highlighted the possibilities offered by Spiber’s innovative fiber, as thread that was crocheted; as a cotton blend used as a more conventional fabric; or even used as a leather substitute on a beige-toned sandal. Coming from someone who considers “haute couture to be the future of fashion,” this certainly read as a plausible step forward. Launch Gallery: Yuima Nakazato Couture Fall 2019 Sign up for WWD's Newsletter . For the latest news, follow us on Twitter , Facebook , and Instagram .
Taylor Swift's Former Label Head Denies Singer's Claims Scooter Braun Was 'Bullying' Her Taylor Swift ‘s former record label, Big Machine Label Group, and its founder are speaking out after the singer slammed Scooter Braun for purchasing her music catalog for $300 million. Hours after Swift said she was “grossed out” by Braun’s acquisition of Big Machine Label Group and her catalog, Scott Borchetta, who worked with Swift from 2006 until she left Big Machine for Universal Music Group late last year, responded with his own lengthy statement on the label’s website . Along with sharing the conversations he previously had with Swift, 29, about the rights to her past music projects, Borchetta also denied her claims about Braun’s “bullying” of which the star wrote on Tumblr: “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.” Kevin Mazur/Getty Images Borchetta, whose rep declined to comment to PEOPLE, defended new business partner Braun. “As to her comments about ‘being in tears or close to it’ anytime my new partner Scooter Braun’s name was brought up, I certainly never experienced that,” he said. RELATED: Taylor Swift’s Rep Says Singer Learned of Scooter Braun’s Purchase from News When She Woke Up Leon Bennett/FilmMagic; John Salangsang/Variety/Shutterstock “Was I aware of some prior issues between Taylor and Justin Bieber ? Yes. But there were also times where Taylor knew that I was close to Scooter and that Scooter was a very good source of information for upcoming album releases, tours, etc, and I’d reach out to him for information on our behalf,” Borchetta continued. “Scooter was never anything but positive about Taylor. He called me directly about Manchester to see if Taylor would participate (she declined),” he said, referring to Braun’s client Ariana Grande ‘s Manchester One Love concert that raised funds for the victims of the May 2017 terrorist attack outside her concert that killed 22 and injured over 100 people. Story continues “He called me directly to see if Taylor wanted to participate in the Parkland March (she declined),” Borchetta said of the March for Our Lives in March 2018 that was organized and led by the students and survivors of the Marjory Stoneman Douglas High School shooting. “Scooter has always been and will continue to be a supporter and honest custodian for Taylor and her music,” he added. Though she wasn’t physically at the event, Swift showed her support for the March for Our Lives campaign last March by donating money and speaking out on Instagram about gun violence ahead of the organized march in Washington, D.C. RELATED: Taylor Swift Slams Scooter Braun for ‘Manipulative Bullying’ After He Acquires Her Music Catalog Craig Barritt/Getty Images Borchetta also responded to Swift’s rep who told PEOPLE in a statement that the Grammy-nominated artist “found out from the news articles when she woke up before seeing any text from Scott Borchetta and he did not call her in advance.” “I personally texted Taylor at 9:06pm, Saturday, June 29th to inform her prior to the story breaking on the morning of Sunday, June 30th so she could hear it directly from me,” he said. “I guess it’s possible that she might not have seen my text. But, I truly doubt that she ‘woke up to the news when everyone else did.’ “ A source close to the deal told PEOPLE Swift was given a courtesy note on Saturday by Borchetta. TMZ reported that Taylor’s father, Scott, is on the board of directors of Big Machine Label Group and “has known about the deal for at least a week.” RELATED VIDEO: Scooter Braun’s Wife Yael Cohen Braun Calls Out Taylor Swift: ‘Lets Get the Facts Straight’ However, a spokesperson for Swift refuted TMZ’s claim, telling PEOPLE: “Scott Swift is not on the board of directors and has never been. On June 25, there was a shareholder phone call that Scott Swift did not participate in due to a very strict NDA that bound all shareholders and prohibited any discussion at all without risk of severe penalty. Her dad did not join that call because he did not want to be required to withhold any information from his own daughter.” RELATED: Taylor Swift Accuses Scooter Braun of Using Kanye West & Justin Bieber to ‘Bully’ Her Frazer Harrison/Getty Images; Jason Merritt/Getty Images; John Salangsang/Variety/Shutterstock In her Tumblr post on Sunday, Swift, whose new album Lover hits shelves Aug. 23, wrote about learning that it was Braun who had ultimately purchased her masters from Borchetta, calling it her “worst nightmare.” “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.” Swift added of Borchetta, “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.” Among many of Swift’s friends to speak out in support of her was Cara Delevingne, who commented on Bieber’s Instagram response in which he accused Swift of “crossing a line” in her Tumblr post. “This issue that @taylorswift is talking out is about far more than a picture and you know that,” Delevingne wrote to Bieber and his wife Hailey Baldwin , who called him a “gentleman” in the comments section. “As you said, you haven’t spoken to her in years which means you definitely don’t understand the situation. I do. Take a step back and try and learn from this. We should all be on the same team. End of story,” Delevingne concluded. A rep for Braun declined to comment to PEOPLE.
Do Institutions Own Sydney Airport Limited (ASX:SYD) Shares? Want to participate in ashort research study? Help shape the future of investing tools and you could win a $250 gift card! A look at the shareholders of Sydney Airport Limited (ASX:SYD) can tell us which group is most powerful. Institutions will often hold stock in bigger companies, and we expect to see insiders owning a noticeable percentage of the smaller ones. Companies that have been privatized tend to have low insider ownership. With a market capitalization of AU$18b, Sydney Airport is rather large. We'd expect to see institutional investors on the register. Companies of this size are usually well known to retail investors, too. In the chart below below, we can see that institutional investors have bought into the company. Let's delve deeper into each type of owner, to discover more about SYD. Check out our latest analysis for Sydney Airport Many institutions measure their performance against an index that approximates the local market. So they usually pay more attention to companies that are included in major indices. We can see that Sydney Airport does have institutional investors; and they hold 42% of the stock. This implies the analysts working for those institutions have looked at the stock and they like it. But just like anyone else, they could be wrong. When multiple institutions own a stock, there's always a risk that they are in a 'crowded trade'. When such a trade goes wrong, multiple parties may compete to sell stock fast. This risk is higher in a company without a history of growth. You can see Sydney Airport's historic earnings and revenue, below, but keep in mind there's always more to the story. We note that hedge funds don't have a meaningful investment in Sydney Airport. There are a reasonable number of analysts covering the stock, so it might be useful to find out their aggregate view on the future. The definition of an insider can differ slightly between different countries, but members of the board of directors always count. Company management run the business, but the CEO will answer to the board, even if he or she is a member of it. Most consider insider ownership a positive because it can indicate the board is well aligned with other shareholders. However, on some occasions too much power is concentrated within this group. Our data suggests that insiders own under 1% of Sydney Airport Limited in their own names. Being so large, we would not expect insiders to own a large proportion of the stock. Collectively, they own AU$79m of stock. In this sort of situation, it can be more interesting tosee if those insiders have been buying or selling. The general public, who are mostly retail investors, collectively hold 56% of Sydney Airport shares. This size of ownership gives retail investors collective power. They can and probably do influence decisions on executive compensation, dividend policies and proposed business acquisitions. It's always worth thinking about the different groups who own shares in a company. But to understand Sydney Airport better, we need to consider many other factors. I like to dive deeperinto how a company has performed in the past. You can accessthisinteractive graphof past earnings, revenue and cash flow, for free. If you would prefer discover what analysts are predicting in terms of future growth, do not miss thisfreereport on analyst forecasts. NB: Figures in this article are calculated using data from the last twelve months, which refer to the 12-month period ending on the last date of the month the financial statement is dated. This may not be consistent with full year annual report figures. 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.
Things Got Physical Between Celeste & Mary Louise on 'Big Little Lies,' & Fans Approve Click here to read the full article. If you thought Big Little Lies last week was intense, let’s just put it this way — this week’s episode basically took one look at last week’s and said, “Hold my beer.” Seriously, season two’s fourth episode, “She Knows,” started at a level 10. And by that, we’re clearly referring to the jaw-dropping moment Celeste slaps her mother-in-law, Mary Louise , at the pumpkin-carving party being held at Madeline’s house. Real talk? The internet was living for it. It’s been obvious over the last few weeks that the tension between Mary Louise ( Meryl Streep ) and Celeste ( Nicole Kidman ) was building to a head. So, when Mary Louise knocks on the door unannounced and essentially invites herself to a party being hosted by Madeline ( Reese Witherspoon ), confrontation seems inevitable. Still, it didn’t make the electric exchange that followed any less shocking. Mary Louise wastes no time inserting herself into the festivities, cozying up quickly to Ziggy — aka the child born after Mary Louise’s son Perry ( Alexander Skarsgard ) raped Jane ( Shailene Woodley ). Celeste, realizing how uncomfortable Jane felt, asks to speak to Mary Louise. Related stories Exclusive: What 'Big Little Lies' Wacky Child Therapist Actor Really Thinks of Her Character A Forensic Expert Pretty Much Confirmed This Super-Gross Game of Thrones Theory We Can't Stop Watching the Game of Thrones Cast React to Their Baby Faces from Season 1 When Mary Louise insinuates that perhaps Jane exaggerated her rape and, more pointedly, that Celeste pushed Perry into the arms of other women, Celeste hauls off and slaps her. And, make no mistake, the internet promptly proceeded to throw Celeste a party. In the court of public opinion, Celeste is winning. She is the victim, and Mary Louise definitely crossed a line. But, as the episode would soon reveal, Mary Louise is getting ready to cross another — she met with a lawyer to file an injunction so she can get custody of Celeste’s twins, Max and Josh. While this seems totally out-of-line to us watching at home, both Renata ( Laura Dern ) and Celeste’s therapist, Dr. Reisman (Robin Weigert), point out that the law regarding the safety of minors in California is tricky. If Mary Louise can prove Celeste is a threat to her sons, it is possible the manipulative mother-in-law will get custody… at least temporarily. At the end of the episode, Mary Louise reveals her intentions to Celeste and, understandably, that did not go over well. There’s a storm brewing, and we have a feeling it’s going to be a Category (Monterey) Five. Sign up for SheKnows' Newsletter . For the latest news, follow us on Facebook , Twitter , and Instagram .
Applied Materials to buy Japan's Kokusai to bolster memory chip business By Akanksha Rana (Reuters) - U.S. chip gear maker Applied Materials Inc <AMAT.O> on Monday agreed to buy Japanese peer Kokusai Electric for $2.2 billion from KKR & Co Inc <KKR.N>, as it bets on rising demand for memory chips used in data centers, 5G phones and AI-powered devices. The acquisition comes against the backdrop of a glut in the memory chip market due to a decline in demand from smartphone makers that has squeezed prices and weighed on sales of chipmaking equipment. Applied Materials said the Kokusai deal does not require the approval of U.S. Justice Department, which had forced the company to scrap https://www.reuters.com/article/us-tokyo-electron-applied-material-cance/applied-materials-scraps-tokyo-electron-takeover-on-u-s-antitrust-concerns-idUSKBN0NI17A20150427 its $10 billion takeover of Japan's Tokyo Electron Ltd <8035.T> in 2015. However, the Kokusai acquisition could still be scrutinized by Chinese authorities given the ongoing trade tensions between the United States and China, which last year derailed Qualcomm Inc's <QCOM.O> $44 billion acquisition of NXP Semiconductors <NXPI.O>. As Kokusai is a small acquisition, the road to approval should be easy, but China's willingness from a political standpoint is always a risk, Evercore analysts said. While the last major round of talks between the world's two largest economies collapsed in May, they agreed on Saturday to restart their trade negotiations. Apart from China, the acquisition will need approvals from Israel, Ireland, Japan, Korea and Taiwan, Applied Materials Chief Financial Officer Dan Durn said on a call with analysts. MEMORY BOOST The deal comes less than two years after KKR took control of Hitachi Kokusai in a $2.2 billion deal. The Financial Times had reported in February that the private equity firm was in talks with two Chinese buyers for the "full or partial" sale of the company. Although Kokusai's batch wafer processing tools are less technology intensive than Applied Materials' single wafer tools, recent focus on ultra-thin films has driven renewed interest in this group, DA Davidson analysts said. The market for global thin and ultra-thin films, used in making microelectronics for mobiles and televisions, is expected to cross $115 billion by 2024 from less than $33 billion in 2015, according to a report https://www.transparencymarketresearch.com/thin-ultra-thin-films-market.html by Transparency Market Research. Kokusai, which counts Samsung <005930.KS>, SK Hynix <000660.KS>, Toshiba <6502.T> and Micron <MU.O> among its top customers, reported revenue of $1.24 billion as of March 2018. "AMAT needs to acquire a $1B+ revenue business to make a difference to its revenue and earnings, so this makes sense," Cowen and Co analysts wrote in a client note. The deal would push the U.S. company's share of the chipmaking equipment market to above 20% from 18%, according to the Nikkei, which had earlier reported on the deal. It expects the deal to close within a year and immediately add to its adjusted earnings per share. Shares of Applied Materials were up 2% at $45.81 in afternoon trading. Goldman Sachs & Co LLC served as exclusive financial adviser, and Hogan Lovells and Cleary Gottlieb Steen & Hamilton LLP served as legal counsel for Applied Materials. (Reporting by Takashi Umekawa in Tokyo and and Akanksha Rana in Bengaluru; Editing by Christopher Cushing and Anil D'Silva)
Brave browser set to enable BAT tipping on internet giant Reddit Users of Reddit, one of the top 20 internet sites in the world, will soon be able to tip one another using the Basic Attention Token (BAT) cryptocurrency, according to a report inDecrypt. The tipping functionality will only be available to users of the Brave browser. The Brave browser allows users to be compensated with the BAT token in return for viewing "privacy-respecting ads" in a scheme calledBrave Rewards. Users can then opt to contribute to content creators who they frequent using these Brave Rewards. Reddit is one of the largest cryptocurrency information and community gateways in the world. The Bitcoin subreddit has more than 1.1 million members and the CryptoCurrency subreddit has nearly 900K members. The introduction of a cryptocurrency tip button on a site with 1.6 billion monthly visits and an audience that is crypto-friendly will be the largest mainstream test to date for BAT as a means of payment. Update: The post has been updated to reflect that the tipping functionality will be enabled forusers of the Brave browserrather than on Reddit proper, contrary to the original Decrypt report.
Estimating The Fair Value Of Sydney Airport Limited (ASX:SYD) Want to participate in ashort research study? Help shape the future of investing tools and you could win a $250 gift card! How far off is Sydney Airport Limited (ASX:SYD) from its intrinsic value? Using the most recent financial data, we'll take a look at whether the stock is fairly priced by taking the expected future cash flows and discounting them to today's value. I will be using the Discounted Cash Flow (DCF) model. Don't get put off by the jargon, the math behind it is actually quite straightforward. Companies can be valued in a lot of ways, so we would point out that a DCF is not perfect for every situation. If you want to learn more about discounted cash flow, the rationale behind this calculation can be read in detail in theSimply Wall St analysis model. See our latest analysis for Sydney Airport We use what is known as a 2-stage model, which simply means we have two different periods of growth rates for the company's cash flows. Generally the first stage is higher growth, and the second stage is a lower growth phase. To begin with, we have to get estimates of the next ten years of cash flows. Where possible we use analyst estimates, but when these aren't available we extrapolate the previous free cash flow (FCF) from the last estimate or reported value. We assume companies with shrinking free cash flow will slow their rate of shrinkage, and that companies with growing free cash flow will see their growth rate slow, over this period. We do this to reflect that growth tends to slow more in the early years than it does in later years. A DCF is all about the idea that a dollar in the future is less valuable than a dollar today, and so the sum of these future cash flows is then discounted to today's value: [{"": "Levered FCF (A$, Millions)", "2019": "A$1.02k", "2020": "A$1.04k", "2021": "A$1.15k", "2022": "A$1.24k", "2023": "A$1.31k", "2024": "A$1.38k", "2025": "A$1.44k", "2026": "A$1.49k", "2027": "A$1.53k", "2028": "A$1.58k"}, {"": "Growth Rate Estimate Source", "2019": "Analyst x3", "2020": "Analyst x3", "2021": "Analyst x2", "2022": "Est @ 7.61%", "2023": "Est @ 6.02%", "2024": "Est @ 4.91%", "2025": "Est @ 4.13%", "2026": "Est @ 3.58%", "2027": "Est @ 3.2%", "2028": "Est @ 2.93%"}, {"": "Present Value (A$, Millions) Discounted @ 9.17%", "2019": "A$930.35", "2020": "A$875.70", "2021": "A$885.40", "2022": "A$872.72", "2023": "A$847.52", "2024": "A$814.41", "2025": "A$776.80", "2026": "A$737.04", "2027": "A$696.75", "2028": "A$656.95"}] Present Value of 10-year Cash Flow (PVCF)= A$8.09b "Est" = FCF growth rate estimated by Simply Wall St We now need to calculate the Terminal Value, which accounts for all the future cash flows after this ten year period. The Gordon Growth formula is used to calculate Terminal Value at a future annual growth rate equal to the 10-year government bond rate of 2.3%. We discount the terminal cash flows to today's value at a cost of equity of 9.2%. Terminal Value (TV)= FCF2029× (1 + g) ÷ (r – g) = AU$1.6b × (1 + 2.3%) ÷ (9.2% – 2.3%) = AU$24b Present Value of Terminal Value (PVTV)= TV / (1 + r)10= A$AU$24b ÷ ( 1 + 9.2%)10= A$9.80b The total value is the sum of cash flows for the next ten years plus the discounted terminal value, which results in the Total Equity Value, which in this case is A$17.89b. The last step is to then divide the equity value by the number of shares outstanding.This results in an intrinsic value estimate of A$7.93. Compared to the current share price of A$8.04, the company appears around fair value at the time of writing. The assumptions in any calculation have a big impact on the valuation, so it is better to view this as a rough estimate, not precise down to the last cent. We would point out that the most important inputs to a discounted cash flow are the discount rate and of course the actual cash flows. You don't have to agree with these inputs, I recommend redoing the calculations yourself and playing with them. The DCF also does not consider the possible cyclicality of an industry, or a company's future capital requirements, so it does not give a full picture of a company's potential performance. Given that we are looking at Sydney Airport as potential shareholders, the cost of equity is used as the discount rate, rather than the cost of capital (or weighted average cost of capital, WACC) which accounts for debt. In this calculation we've used 9.2%, which is based on a levered beta of 1.151. Beta is a measure of a stock's volatility, compared to the market as a whole. We get our beta from the industry average beta of globally comparable companies, with an imposed limit between 0.8 and 2.0, which is a reasonable range for a stable business. Although the valuation of a company is important, it shouldn’t be the only metric you look at when researching a company. The DCF model is not a perfect stock valuation tool. Rather it should be seen as a guide to "what assumptions need to be true for this stock to be under/overvalued?" If a company grows at a different rate, or if its cost of equity or risk free rate changes sharply, the output can look very different. For Sydney Airport, I've put together three further aspects you should further research: 1. Financial Health: Does SYD have a healthy balance sheet? Take a look at ourfree balance sheet analysis with six simple checkson key factors like leverage and risk. 2. Future Earnings: How does SYD's growth rate compare to its peers and the wider market? Dig deeper into the analyst consensus number for the upcoming years by interacting with ourfree analyst growth expectation chart. 3. Other High Quality Alternatives: Are there other high quality stocks you could be holding instead of SYD? Exploreour interactive list of high quality stocksto get an idea of what else is out there you may be missing! PS. The Simply Wall St app conducts a discounted cash flow valuation for every stock on the ASX every day. If you want to find the calculation for other stocks justsearch 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.
Kylie Jenner Begs Kim Kardashian Not to 'Bully' Jordyn Woods About Tristan Thompson Scandal Khloé Kardashian went through a range of emotions on the Keeping Up with the Kardashians season finale as she navigated the aftermath of the Tristan Thompson / Jordyn Woods cheating scandal. Thompson, 28, first allegedly cheated on Khloé, 35, just days before she gave birth to their daughter in April 2018. Though they reconciled , their relationship never fully recovered — but it’s been over for good since news broke that he hooked up with Kardashian’s sister Kylie Jenner ‘s BFF, 21-year-old Woods, in February. During a getaway to Palm Springs with sisters Kim Kardashian West and Kourtney Kardashian and pal Malika Haqq filmed for Sunday night’s episode, Khloé exploded with anger. “F— these hoes. Im done. Everyone told me how aggressive and crazy I am? I am. I’m going to go back to the old Khlo Money. … For True I don’t want to act like that, but also for True i want people to be f—ing afraid.” Emma McIntyre/Getty Images A FaceTime call from Thompson’s friend Savas — who said the NBA player still insisted he couldn’t remember anything and denied kissing Woods — didn’t help matters. “Liars!” she screamed into the phone. “You f—ing told me you kissed bitches, and you’re a f—ing liar!” Meanwhile, Kylie was grappling with losing her best friend. After seeing a video of the Palm Springs crew shading Woods on the car ride there , she called Kim in tears. RELATED: Khloé Kardashian Claims Tristan Thompson Threatened to Kill Himself After Jordyn Woods Scandal “I just feel like we’re bigger than this, we’re better than this. I feel like call her or talk to her in person. … We just don’t need to bully anyone,” Kylie said, adding that Woods had come to her home to pick up some things after moving out abruptly. “The look in her eye, she’s just obviously going through it,” Kylie said, her voice breaking. “I just don’t think anyone deserves this. We should express everything to each other in person, however we feel.” Kim agreed and said she’d regretted putting the video on social media; although she deleted it five minutes later, the damage had been done. ” I definitely can get petty sometimes,” she said. “Kylie’s right. I got caught up in the moment.” Tristan Thompson and baby True But the family lost any sympathy for Woods when they found out she’d be appearing on Facebook Watch’s Red Table Talk to tell family friend Jada Pinkett Smith — and the world — her side of the story. Momager Kris Jenner acknowledged the actress had given her a heads up via text, but Khloé was furious Woods would give an interview before hashing things out directly. Kylie hosted a family meeting, where Scott Disick suggested Woods may have not reached out to Khloé because she’s “drop-dead petrified” of the powerful stars. Story continues “She should have been more scared to ever touch my man. She’s too f—ing comfortable,” she shot back. She decided that even if Thompson loves her, he doesn’t respect her — and ignored his attempts to connect. “There’s no amount of phone calls or apology text messages that is ever going to repair Tristan and my relationship,” she declared. RELATED VIDEO: Jordyn Woods Says She’s as ‘Apologetic’ as She ‘Can Be’ About Tristan Thompson Cheating Scandal The episode also covered the backlash Khloé faced for her tweets about the Red Table Talk interview; people accused her of blaming Woods for her heartbreak instead of Thompson. When Kim stopped by her bedroom to check in, she noted a giant display of red roses that he’d sent her. “I just have no idea how all of this flipped like that,” Khloé said. “I reacted out of emotion … I was just reiterating you are part of the reason. you aren’t the sole reason, of course not. But regardless, she and tristan violated me … I’m now all of a sudden getting death threats, people threatening my child. … I didn’t choose to go and make this public. Even if they did just peck, which they didn’t, she decided to do an interview before talking to me.” She realized she shouldn’t have tweeted and posted another message clarifying things. But the pain was still raw. “Emotionally, you have to be really strong for this environment that we created. … It just sucks it has to be so public, because no one understands how I’m not just a TV show. This is my life, and it breaks my soul, and it’s happened so many times. “Sometimes i think people forget Im not just an episode. It’s not just to get something trending. It’s my real life. No one would ever fake this. I get we’re entertainment, but we’re still human.” View comments
Taylor Swift's Feuds: A Breakdown of Her Beef With Scooter Braun, Kanye West and Others Taylor Swift is once again setting the internet ablaze, but not with a new song but rather a continuing feud. The "You Need To Calm Down" singer took to Tumblr on Sunday to post a lengthy message about Scooter Braun in which she accused him of "bullying" her for years. ET has reached out to Braun for comment. The post sparked heated debate between her fans, her friends, and other celebs who ventured into the fray to publicly pick sides. This war of words is the latest in a long line of (mostly) music-industry feuds that Swift has found herself in the middle of during her long career, and she's once again not shying away from defending herself with every tool at her disposal. Sometimes the feuds have ended amicably, while other rivalries have just gotten more entrenched. To see how things might play out, ET is looking back at Swift's most public, vocal feuds -- including her most recent -- and breaking down what happened, how things went down, and how things stand now. Kanye West and Kim Kardashian Larry Busacca/Getty Images "Yo, Taylor, I'm really happy for you. I'mma let you finish, but Beyoncé had one of the best videos of all time!" With this comment from West at the 2009 MTV VMAs, after he stormed the stage and stole the mic following Swift's win for Best Female Video, one of the most famous celebrity music feuds in recent memory was sparked. Two days later, West apologized for his comments, but in 2013, when asked if he still regretted doing what he did, West said no, and seemed to only partially remember it even happening. Then 2015 came around, and after a few pleasant public appearances during different award shows, Swift praised West and said, "I completely respect him as a producer," during a profile for Vanity Fair. Then, West dropped The Life of Pablo , with the song "Famous," in which he has a line where he takes credit for popularizing Swift's career and suggests they "might still have sex." Swift claimed she'd been told about the broad strokes of the song's message, but was never informed of the line "I made that b**th famous." Story continues It became a he said/she said back-and-forth about whether or not West had actually gotten her blessing on the lyric -- which he claimed he did -- or whether or not it was a huge insult. Tensions began escalating once again, as West went on numerous public rants about her. Kim Kardashian then joined the fray, claiming that the conversation in which Swift agreed to the lyrics was recorded. Later, through a series of snapchat videos, Kardashian posted snippets of the supposed phone call, which Swift claims didn't actually represent the true story. Additionally Kardashian's shady use of a snake emoji to insult Swift became a central theme for the singer, who seemingly embraced the symbolism, which is why a snake plays a central role in the imagery for her "Look What You Made Me Do" music video, and her Reputation Tour. Katy Perry Kevin Mazur Before they were low-key enemies, Swift and Perry appeared to be friends, or at least friendly . Then, in 2014, Swift did an interview with Rolling Stone in which she said she had a feud with a fellow pop star, which inspired her hit song, "Bad Blood." After Twitter sleuths deduced that Swift may have been talking about Perry, and that it likely related to Perry supposedly poaching some of Swift's back-up dancers for her Prismatic Tour, and then Perry subtly seemed to confirm these speculations when she tweeted "Watch out for the Regina George in sheep's clothing..." Watch out for the Regina George in sheep's clothing... — KATY PERRY (@katyperry) September 9, 2014 The majority of their feud was waged through vague shade throwing without either of them really making any direct attacks. Perry would occasionally weigh in on some of Swift's feuds with other celebs, and Swift would make passing references to Perry during her shows -- like when she mocked Perry's Super Bowl Halftime Show's "Left Shark" by including a shark mascot of her own during a live performance of "Bad Blood." Perry addressed their feud head-on when she joined James Corden for an installment of "Carpool Karaoke" in May 2017, when she said Swift "started it and it's time for her to finish it." Swift seemingly added fuel the fire the following June when she announced that her entire song catalog would return to all streaming services the same night as Perry's Witness album dropped. Finally, in May 2018, Swift shared a video of an olive branch and an apology note she wrote from Perry on her Instagram Stories, a sign that Perry wanted to put their issues behind them. A year later, Swift sent Perry a plate of chocolate chip cookies as a final peace offering, and then Perry made a surprise appearance in Swift's "You Need to Calm Down" music video, thus cementing the end of their years-long feud. Nicki Minaj Kevin Mazur/WireImage When Minaj wasn't nominated for Video of the Year at the MTV VMAs in 2015, she took to Twitter to express her frustrations at how hard it is for women of color who aren't pop stars to recieve recognition in the category, and laments, "If your video celebrates women with very slim bodies, you will be nominated for vid of the year." Swift, possibly because her music video for "Bad Blood" was nominated in the category, decided to weigh in and accused Minaj of trying to put female artists against one another, thus missing the points Minaj was raising about race issues and inequality in the industry. Minaj fired back, with both respect and confusion, tweeting at Swift, "Huh? U must not be reading my tweets. Didn't say a word about u. I love u just as much. But u should speak on this." Swift's response -- "If I win, please come up with me!! You're invited to any stage I'm ever on" -- earned the internet's ire for a while, but Swift and Minaj apparently cleared up any confusion and reconciled privately. Swift then apologized on Twitter, writing, "I thought I was being called out. I missed the point, I misunderstood, then misspoke. I'm sorry, Nicki." Then, during the VMAs in question, the pair proved they'd moved on when they performed together on stage, with Swift joining the rapper on stage for a performance of Minaj's "The Night Is Still Young" and then "Bad Blood." Amy Poehler and Tina Fey Paul Drinkwater/NBCUniversal via Getty Images One of the most unusual and seemingly unnecessary of Swift's feuds apparently pitted her against the beloved comedy duo of Fey and Poehler, who gently poked fun at the Reputation singer's famous and highly-scrutinized love life. During their monologue at 2013 Golden Globes, Fey jokingly warned Swift -- who'd just publically broke up with Harry Styles -- to "stay away from Michael J. Fox's son." She went on to suggest that Swift "needs some me time to learn about herself." When asked about the jokes during her Vanity Fair interview in 2013, Swift paraphrased a quote she was told by Katie Couric: "There’s a special place in hell for women who don’t help other women." Fey told ET at the time, "I did not see that one coming. It was a joke. It was a lighthearted joke," while Poehler told The Hollywood Reporter, "I feel bad if she was upset. I am a feminist, and she is a young and talented girl. That being said, I do agree I am going to hell. But for other reasons. Mostly boring tax stuff. " The following year, when Poehler won a Golden Globe for Best Actress in a TV Comedy for her role in Parks and Recreation , Fey congratulated her close friend on stage and said, "I love you, and there's a special place in hell for you!" Scooter Braun ANGELA WEISS/AFP/Getty Images Swift took to Tumblr on Sunday to air her grievances with Braun, after the talent manager and entertainment exec bought Swift's former record label, Big Machine, which still owns many of Swift's master recordings. Braun's reported $300 million acquisition of Big Machine means he now owns, through his company Ithaca Holdings, a majority of Swifts masters from her time with the label, before moving to Universal Music Group. According to the lengthy post by Swift, she's been trying to get control of her masters back from Big Machine for years but was told she would have to "earn" them by signing back on the with record label and producing more music for them. She goes on to accuse Braun, the new owner, of "incessant, manipulative bullying" which she claims she's "received at his hands for years." She accuses Braun of working with Kanye West and Justin Bieber to publicly humiliate her, and says that his purchase of Big Machine is the "worst case scenario" for her. "Scooter has stripped me of my life's work, that I wasn't given an opportunity to buy," Swift wrote. "Essentially, my musical legacy is about to lie in the hands of someone who tried to dismantle it." Soon, many other musicians and artists began weighing in , with many standing behind Swift, while others, like Justin Bieber and Braun's wife, Yael, penning passionate defenses of the exec. Justin Bieber Kevin Mazur/TCA 2011/WireImage As part of Swift's unexpected Tumblr post slamming Scooter Braun, one thing she pointed to as evidence of his bullying was a screenshot of a video chat between Bieber, Braun and Kanye West, which was posted around the time West and Kim Kardashian released what Swift claimed was an "illegally recorded snippet of a phone call," that famously took Swift's feud with West and Kardashian to an all new level, at the time. Bieber, who has long been Braun's client and close friend, soon took to Instagram to apologize for having posted the insensitive screen shot of the video chat while at the same time slamming Swift's accusations against Braun. "Hey Taylor. First of all i would like to apologize for posting that hurtful instagram post, at the time i thought it was funny but looking back it was distasteful and insensitive," Bieber wrote in the caption, before adding that it was Braun who had, at the time, encouraged him not to post the image. "Scooter has had your back since the days you graciously let me open up for you.! As the years have passed we haven’t crossed paths and gotten to communicate our differences, hurts or frustrations. So for you to take it to social media and get people to hate on scooter isn’t fair." View this post on Instagram Hey Taylor. First of all i would like to apologize for posting that hurtful instagram post, at the time i thought it was funny but looking back it was distasteful and insensitive.. I have to be honest though it was my caption and post that I screenshoted of scooter and Kanye that said “taylor swift what up” he didnt have anything to do with it and it wasnt even a part of the conversation in all actuality he was the person who told me not to joke like that.. Scooter has had your back since the days you graciously let me open up for you.! As the years have passed we haven’t crossed paths and gotten to communicate our differences, hurts or frustrations. So for you to take it to social media and get people to hate on scooter isn’t fair. What were you trying to accomplish by posting that blog? seems to me like it was to get sympathy u also knew that in posting that your fans would go and bully scooter. Anyway, One thing i know is both scooter and i love you. I feel like the only way to resolve conflict is through communication. So banter back and fourth online i dont believe solves anything. I’m sure Scooter and i would love to talk to you and resolve any conflict, pain or or any feelings that need to be addressed. Neither scooter or i have anything negative to say about you we truly want the best for you. I usually don’t rebuttal things like this but when you try and deface someone i loves character thats crossing a line.. A post shared by Justin Bieber (@justinbieber) on Jun 30, 2019 at 2:54pm PDT Bieber's tone then shifted as he got defensive of his friend and accused Swift of trying to manipulate the narrative, writing, "What were you trying to accomplish by posting that blog? seems to me like it was to get sympathy u also knew that in posting that your fans would go and bully scooter. Anyway, One thing i know is both scooter and i love you." Swift has yet to respond to Bieber's post, and as her feud with Braun grows rapidly, it's unclear how their separate beef might play out. RELATED CONTENT: Celebs Take Sides After Taylor Swift Drops Scooter Braun Bombshell: Halsey, Justin Bieber and More Weigh In Justin Bieber Accuses Taylor Swift of 'Crossing a Line' in Apology Over Scooter Braun Drama Taylor Swift Accuses Scooter Braun of 'Bullying' Her After He Purchases Her Masters Taylor Swift vs. Katy Perry: The Complete Timeline of Their Feud Related Articles: Hollywood Bikini Bods Over 40 Biggest Celebrity Breakups of 2019 -- So Far! Celebrities in Their Underwear
Should Hi-P International Limited (SGX:H17) Be Part Of Your Dividend Portfolio? Want to participate in ashort research study? Help shape the future of investing tools and you could win a $250 gift card! Could Hi-P International Limited (SGX:H17) be an attractive dividend share to own for the long haul? Investors are often drawn to strong companies with the idea of reinvesting the dividends. If you are hoping to live on the income from dividends, it's important to be a lot more stringent with your investments than the average punter. A high yield and a long history of paying dividends is an appealing combination for Hi-P International. We'd guess that plenty of investors have purchased it for the income. The company also bought back stock equivalent to around 0.9% of market capitalisation this year. Before you buy any stock for its dividend however, you should always remember Warren Buffett's two rules: 1) Don't lose money, and 2) Remember rule #1. We'll run through some checks below to help with this. Explore this interactive chart for our latest analysis on Hi-P International! Dividends are usually paid out of company earnings. If a company is paying more than it earns, then the dividend might become unsustainable - hardly an ideal situation. Comparing dividend payments to a company's net profit after tax is a simple way of reality-checking whether a dividend is sustainable. In the last year, Hi-P International paid out 40% of its profit as dividends. This is a middling range that strikes a nice balance between paying dividends to shareholders, and retaining enough earnings to invest in future growth. Plus, there is room to increase the payout ratio over time. We also measure dividends paid against a company's levered free cash flow, to see if enough cash was generated to cover the dividend. Hi-P International's cash payout ratio in the last year was 38%, which suggests dividends were well covered by cash generated by the business. It's positive to see that Hi-P International's dividend is covered by both profits and cash flow, since this is generally a sign that the dividend is sustainable, and a lower payout ratio usually suggests a greater margin of safety before the dividend gets cut. Consider gettingour latest analysis on Hi-P International's financial position here. One of the major risks of relying on dividend income, is the potential for a company to struggle financially and cut its dividend. Not only is your income cut, but the value of your investment declines as well - nasty. For the purpose of this article, we only scrutinise the last decade of Hi-P International's dividend payments. The dividend has been cut by more than 20% on at least one occasion historically. During the past ten-year period, the first annual payment was S$0.022 in 2009, compared to S$0.05 last year. This works out to be a compound annual growth rate (CAGR) of approximately 8.6% a year over that time. Hi-P International's dividend payments have fluctuated, so it hasn't grown 8.6% every year, but the CAGR is a useful rule of thumb for approximating the historical growth. It's good to see the dividend growing at a decent rate, but the dividend has been cut at least once in the past. Hi-P International might have put its house in order since then, but we remain cautious. With a relatively unstable dividend, it's even more important to evaluate if earnings per share (EPS) are growing - it's not worth taking the risk on a dividend getting cut, unless you might be rewarded with larger dividends in future. It's good to see Hi-P International has been growing its earnings per share at 75% a year over the past 5 years. With high earnings per share growth in recent times and a modest payout ratio, we think this is an attractive combination if earnings can be reinvested to generate further growth. When we look at a dividend stock, we need to form a judgement on whether the dividend will grow, if the company is able to maintain it in a wide range of economic circumstances, and if the dividend payout is sustainable. Firstly, we like that Hi-P International has low and conservative payout ratios. We were also glad to see it growing earnings, but it was concerning to see the dividend has been cut at least once in the past. Overall we think Hi-P International scores well on our analysis. It's not quite perfect, but we'd definitely be keen to take a closer look. See if management have their own wealth at stake, by checking insider shareholdings inHi-P International stock. We have also put together alist of global stocks with a market capitalisation above $1bn and yielding more 3%. 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.
Lil Nas X Comes Out as Gay Today (June 30), Lil Nas X came out as gay, a source close to the situation tells Pitchfork. He announced the news by pointing to the lyrics of “C7osure” from his new 7 EP . “some of y’all already know, some of y’all don’t care, some of y’all not gone fwm no more,” he wrote. “but before this month ends i want y’all to listen closely to c7osure.” The tweet includes a rainbow emoji; today is the final day of Pride Month. “C7osure” begins, “True say, I want and I need to let go, use my time to be free.” He continues: “Ain’t no more actin’, man that forecast say I should just let me grow/No more red light for me baby, only green, I gotta go/Pack my past up in the back, oh, let my future take ahold/This is what I gotta do, can’t be regrettin’ when I’m old.” https://twitter.com/LilNasX/status/1145428812404068352 Later, Lil Nas X pointed to 7 ’s artwork: “deadass thought i made it obvious.” https://twitter.com/LilNasX/status/1145470707150860289 Lil Nas X’s “ Old Town Road ” has been the No. 1 song in the U.S. since April, breaking streaming records previously set by Drake and holding off two different new Taylor Swift singles. His EP 7 debuted at No. 2 on the Billboard 200 this week behind the new Raconteurs LP. Lil Nas X tweeted to Third Man Records, “congrats!!!” Read “ How Lil Nas X’s “Old Town Road” Became a Lightning Rod for Race, the Charts, and Country Music ” on the Pitch. Also read Pitchfork’s feature “ 50 Songs That Define the Last 50 Years of LGBTQ+ Pride .” See the video. Originally Appeared on Pitchfork
Global Markets: Weak economic data, tariff concerns weigh on stocks globally By David Randall NEW YORK (Reuters) - Modest gains in U.S. stocks helped global equity indices edge higher on Tuesday as investors weighed a U.S.-China trade truce against Washington's threat to impose additional tariffs on European goods. Global stock indices traded lower for most of the day after data showing factory activity in the euro zone shrank at a faster pace than expected last month and another report showing U.S. manufacturing activity slowed in June. In addition, the U.S. Trade Representative's office released a list of additional European products that could be subject to tariffs, on top of products worth $21 billion that were announced in April. These included olives, Italian cheese and Scotch whisky. Yet gains in dividend-oriented U.S. utilities and real estate stocks helped push the benchmark S&P 500 to a record high ahead of Friday's U.S. jobs report. "We’ve got a wait-and-see on the trade deal, a wait-and-see on the Fed, a wait-and-see on earnings and all of that is in front of us by at least two weeks," said Art Hogan, chief market strategist at National Securities in New York. "I am not surprised at all to see this market shift into sideways action." MSCI's All Country World Index, which tracks stocks in 47 countries, rose 0.2%. On Wall Street, the Dow Jones Industrial Average rose 69.25 points, or 0.26%, to 26,786.68, the S&P 500 gained 8.68 points, or 0.29%, to 2,973.01 and the Nasdaq Composite added 17.93 points, or 0.22%, to 8,109.09. The pan-European STOXX 600 index rose 0.3% following modest gains in Asian equities. Tuesday was the last full trading day before Friday's monthly U.S. jobs report, a closely watched data point before the U.S. Federal Reserve's meeting in late July. Market participants still expect the Fed to cut interest rates despite the developments in trade talks. "While the threat of additional tariffs on EU imports is still an overhang for investors, the market is more likely taking a breather until new macro-economic data comes out," said Peter Cardillo, chief market economist at Spartan Capital Securities. Stocks rallied globally on Monday after U.S. President Donald Trump postponed imposing more tariffs on Chinese products and the two countries agreed to continue negotiations. Investors, meanwhile, continued to move into safety plays despite the modest gains in equity markets. Benchmark 10-year notes last rose 17/32 in price to yield 1.9757%, from 2.033% late on Monday. The dollar index, which tracks the dollar against major rivals, was 0.1% lower at 96.749. Oil prices slipped as concerns that the global economy could be slowing outweighed an agreement by producer cartel OPEC on Monday to extend supply cuts until next March. Brent crude fell 3.8% to $62.57 per barrel. U.S. crude fell 4.7% to $56.32 a barrel. (Reporting by David Randall; Editing by David Gregorio and Dan Grebler)
Cast From ‘Pose’, ‘The L Word: Generation Q’ And More Let Their Rainbow Flags Fly At WorldPride In New York Click here to read the full article. New York City was a beacon of love as it played host to WorldPride , one of the biggest celebrations of Pride month which celebrates members of the LGTBQIA+ community. June is marked as Pride month considering it was the month when there was an uprising between members of the gay community and the police at the how-historic Stonewall Inn. This sparked the gay rights movement and this year marks the 50th anniversary of the clash that still resonates today. The massive Pride parade in New York was on Sunday and Hollywood showed up and showed out with Pose ‘s Billy Porter , Indya Moore , Dominique Jackson , Mj Rodriguez and Steven Canals in attendance. Also sending love from the streets of New York were Kate Moennig , Leisha Hailey , Jennifer Beals , Leo Sheng , Ilene Chaiken , Rosanny Zayas and Arienne Mandi from the forthcoming The L Word: Generation Q . Related stories Lena Headey To Star In & Executive Produce Dramedy Pilot 'Rita' Based On Danish Series At Showtime 'Penny Dreadful: City Of Angels': Michael Gladis, Lorenza Izzo Among 6 Cast In Showtime Sequel Series 'The Loudest Voice' & 'Years And Years' Review: It's Rupert Murdoch's World, Past & Semi-Fictional Future Queer Eye ‘s Tan France, Antoni Porowski and Jonathan Van Ness were there to slay as well as Margaret Cho, Wilson Cruz, Andy Cohen, Wendy Williams, Pete Davidson, Tommy Dorfman, Donatella Versace, Marc Jacobs as well as New York Gov. Andrew Cuomo and New York City Mayor Bill de Blasio. The parade included over 100 floats and 677 contingents including community groups, major corporations and artists and actors. Organizers expected nearly 150,000 people to march with hundreds of thousands of people lining the streets to show their support. There was also a Queer Liberation March that started earlier in the day that started at Stonewall Inn and then went into Central Park for a rally. Other celebrations happened around the country and the world including Chicago and San Francisco. Story continues . @Andy and the @BravoTV Housewives are living their best #Pride lives! @BravoWWHL pic.twitter.com/IW1kLlqM1W — SandyLeeTV (@SandyLeeTV) June 30, 2019 Happy #pride NYC! #NYCPRIDE #WORLDPRIDENYC #STONEWALL50 #LGBTQ pic.twitter.com/WRDE7iDqsI — Wendy Williams (@WendyWilliams) June 30, 2019 Sign up for Deadline's Newsletter . For the latest news, follow us on Facebook , Twitter , and Instagram .
Japan big manufacturers' mood hits near three-year low as trade war bites By Leika Kihara TOKYO (Reuters) - Japanese big manufacturers' business confidence worsened to a nearly three-year low in the quarter to June, a central bank survey showed, in yet another sign of the growing economic toll exerted by slowing global demand and the U.S.-China trade war. But service-sector mood improved and companies maintained their solid spending plans, the Bank of Japan's closely watched "tankan" survey showed on Monday, suggesting that solid domestic demand was partially offsetting weakness in overseas shipments. A weekend truce in the U.S.-China trade war may also offer some respite, though analysts said there was little to cheer given soft global demand and lingering uncertainty over future developments in the trade talks. "Japan's economy is stagnating but not falling off the cliff with non-manufacturers' sentiment and capital expenditure holding up," said Yoshiki Shinke, chief economist at Dai-ichi Life Research Institute. "This data alone won't force the BOJ to change its scenario that the economy continues to recover moderately. But that's not to say the outlook for Japan's economy has turned positive." The headline index gauging big manufacturers' sentiment slid to plus 7 in June from plus 12 in March, worse than a median market forecast and hitting the lowest level since September 2016, the tankan showed. The index for big non-manufacturers rose to plus 23 from plus 21 in March, exceeding a median market forecast of plus 20. Roughly 70% of the companies surveyed gave their replies on June 11, according to the BOJ, which meant the survey did not reflect the impact of an agreement reached on Saturday between the United States and China to restart trade talks. CAPEX OUTLOOK MURKY The data underscores the divergence between exporters, who are feeling the pinch from the trade tension, and service-sector firms benefiting from the resilience in private consumption. A long public holiday in May gave a boost to retailers' sentiment as households splurged on leisure, though some firms complained that pent-up construction demand ahead of the 2020 Olympic Games may be peaking, a BOJ official told a briefing. Big firms plan to raise their capital expenditure by 7.4% in the fiscal year to March 2020, slightly below market forecasts but roughly flat from three months ago, the tankan showed. Any downturn in business spending could cast doubt on the BOJ's argument a sustained economic recovery will prod firms to boost prices and wages, helping inflation accelerate. But Takeshi Minami, chief economist at Norinchukin Research Institute, said firms may simply be taking a wait-and-see stance given uncertainty over how the U.S.-China trade talks unfold "Companies will likely stay cautious about boosting capital expenditure," he said. "They won't revise up their spending plans when exports are weakening." Japan's economy expanded by an annualised 2.1% in the first quarter but many analysts predict growth to slow in coming months as the U.S.-China tariff row hurts trade, business sentiment and corporate profits. A scheduled sales tax hike in October may also curb consumption, they warn. The tankan's sentiment indexes are derived by subtracting the number of respondents who say conditions are poor from those who say they are good. A positive reading means optimists outnumber pessimists. (Additional reporting by Kaori Kaneko; Editing by Shri Navaratnam)
Should You Like Mobvista Inc.’s (HKG:1860) High 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'll look at Mobvista Inc. (HKG:1860) and reflect on its potential as an investment. Specifically, we'll consider its Return On Capital Employed (ROCE), since that will give us an insight into how efficiently the business can generate profits from the capital it requires. First of all, we'll work out how to calculate ROCE. Then we'll compare its ROCE to similar companies. Last but not least, we'll look at what impact its current liabilities have on 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. Renowned investment researcher Michael Mauboussinhas suggestedthat a high ROCE can indicate that 'one dollar invested in the company generates value of more than one dollar'. 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 Mobvista: 0.14 = US$33m ÷ (US$406m - US$174m) (Based on the trailing twelve months to December 2018.) Therefore,Mobvista has an ROCE of 14%. Check out our latest analysis for Mobvista When making comparisons between similar businesses, investors may find ROCE useful. Using our data, we find that Mobvista's ROCE is meaningfully better than the 8.3% average in the Media industry. We would consider this a positive, as it suggests it is using capital more effectively than other similar companies. Regardless of where Mobvista sits next to its industry, its ROCE in absolute terms appears satisfactory, and this company could be worth a closer look. Mobvista's current ROCE of 14% is lower than 3 years ago, when the company reported a 63% ROCE. Therefore we wonder if the company is facing new headwinds. You can see in the image below how Mobvista's ROCE compares to its industry. Click to see more on 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 misleading for companies in cyclical industries, with returns looking impressive during the boom times, but very weak during the busts. ROCE is only a point-in-time measure. Since the future is so important for investors, you should check out ourfreereport on analyst forecasts for Mobvista. Current liabilities are short term bills and invoices that need to be paid in 12 months or less. 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 check the impact of this, we calculate if a company has high current liabilities relative to its total assets. Mobvista has total assets of US$406m and current liabilities of US$174m. Therefore its current liabilities are equivalent to approximately 43% of its total assets. With this level of current liabilities, Mobvista's ROCE is boosted somewhat. Mobvista's ROCE does look good, but the level of current liabilities also contribute to that. Mobvista looks strong on this analysis,but there are plenty of other companies that could be a good opportunity. Here is afree listof companies growing earnings rapidly. If you like to buy stocks alongside management, then you might just love thisfreelist of companies. (Hint: insiders have been buying them). 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 You Buy SEEK Limited (ASX:SEK) For Its 2.2% Dividend? Want to participate in ashort research study? Help shape the future of investing tools and you could win a $250 gift card! Is SEEK Limited (ASX:SEK) a good dividend stock? How can we tell? Dividend paying companies with growing earnings can be highly rewarding in the long term. Unfortunately, it's common for investors to be enticed in by the seemingly attractive yield, and lose money when the company has to cut its dividend payments. A slim 2.2% yield is hard to get excited about, but the long payment history is respectable. At the right price, or with strong growth opportunities, SEEK could have potential. Some simple analysis can reduce the risk of holding SEEK for its dividend, and we'll focus on the most important aspects below. Explore this interactive chart for our latest analysis on SEEK! Companies (usually) pay dividends out of their earnings. If a company is paying more than it earns, the dividend might have to be cut. As a result, we should always investigate whether a company can afford its dividend, measured as a percentage of a company's net income after tax. SEEK paid out 336% of its profit as dividends, over the trailing twelve month period. Unless there are extenuating circumstances, from the perspective of an investor who hopes to own the company for many years, a payout ratio of above 100% is definitely a concern. In addition to comparing dividends against profits, we should inspect whether the company generated enough cash to pay its dividend. The company paid out 59% of its free cash flow, which is not bad per se, but does start to limit the amount of cash SEEK has available to meet other needs. It's good to see that while SEEK's dividends were not covered by profits, at least they are affordable from a cash perspective. If executives were to continue paying more in dividends than the company reported in profits, we'd view this as a warning sign. Very few companies are able to sustainably pay dividends larger than their reported earnings. As SEEK's dividend was not well covered by earnings, we need to check its balance sheet for signs of financial distress. A rough way to check this is with these two simple ratios: a) net debt divided by EBITDA (earnings before interest, tax, depreciation and amortisation), and b) net interest cover. Net debt to EBITDA is a measure of a company's total debt. Net interest cover measures the ability to meet interest payments. Essentially we check that a) the company does not have too much debt, and b) that it can afford to pay the interest. SEEK has net debt of 2.80 times its EBITDA. Using debt can accelerate business growth, but also increases the risks. We calculated its interest cover by measuring its earnings before interest and tax (EBIT), and dividing this by the company's net interest expense. SEEK has EBIT of 7.59 times its interest expense, which we think is adequate. Remember, you can always get a snapshot of SEEK's latest financial position,by checking our visualisation of its financial health. One of the major risks of relying on dividend income, is the potential for a company to struggle financially and cut its dividend. Not only is your income cut, but the value of your investment declines as well - nasty. SEEK has been paying dividends for a long time, but for the purpose of this analysis, we only examine the past 10 years of payments. Its dividend payments have fallen by 20% or more on at least one occasion over the past ten years. During the past ten-year period, the first annual payment was AU$0.19 in 2009, compared to AU$0.46 last year. Dividends per share have grown at approximately 9.5% per year over this time. The growth in dividends has not been linear, but the CAGR is a decent approximation of the rate of change over this time frame. Dividends have grown at a reasonable rate, but with at least one substantial cut in the payments, we're not certain this dividend stock would be ideal for someone intending to live on the income. Given that the dividend has been cut in the past, we need to check if earnings are growing and if that might lead to stronger dividends in the future. In the last five years, SEEK's earnings per share have shrunk at approximately 31% per annum. If earnings continue to decline, the dividend may come under pressure. Every investor should make an assessment of whether the company is taking steps to stabilise the situation. When we look at a dividend stock, we need to form a judgement on whether the dividend will grow, if the company is able to maintain it in a wide range of economic circumstances, and if the dividend payout is sustainable. We're not keen on the fact that SEEK paid out such a high percentage of its income, although its cashflow is in better shape. Second, earnings per share have been in decline, and its dividend has been cut at least once in the past. In this analysis, SEEK doesn't shape up too well as a dividend stock. We'd find it hard to look past the flaws, and would not be inclined to think of it as a reliable dividend-payer. Given that earnings are not growing, the dividend does not look nearly so attractive. Businesses can change though, and we think it would make sense to see whatanalysts are forecasting for the company. We have also put together alist of global stocks with a market capitalisation above $1bn and yielding more 3%. 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 Loudest Voice: Grade the Premiere of Showtime's Roger Ailes Miniseries Click here to read the full article. Oscar winner Russell Crowe is nearly unrecognizable in The Loudest Voice , Showtime’s limited series based on the life of the late, disgraced Roger Ailes. The seven-part drama, which premiered Sunday, chronicles Ailes’ career as the founder of conservative news empire Fox News Channel, from his days as a right-wing media juggernaut, to his eventual fall from grace after a series of sexual harassment allegations. After opening on Ailes’ lifeless body upon his death in 2017, we journey back to 1995, following his departure from CNBC. Ailes had been terminated following a human resources investigation, and we catch up with him as he meets at the residence of General Electric CEO Jack Welch to convince his former boss to loosen the terms of his noncompete agreement. This paves the way for Ailes to accept an offer from News Corp to create Fox News. Shortly after his CNBC exit, Ailes joins News Corp CEO Rupert Murdoch ( The Theory of Everything ‘s Simon McBurney) at a press conference to announce the soon-to-be competitor to CNN and the fledgling MSNBC. Related stories The Affair Season 5 Teaser: Noah Drives Himself Mad Over Helen — Watch Game of Thrones' Lena Headey to Star in Showtime Dramedy Pilot Rita The Affair: Anna Paquin Makes Her Debut in Final Season Trailer -- Watch The rest of the episode focuses on the 12 months leading up to Fox News’ launch on Oct. 7, 1996. At a meeting of Fox News execs to discuss the network’s programming plan, Ailes advises that the network go niche and appeal solely to conservatives. “Right now in America, 60 percent of the people think that the media is negative — that it’s full of lies, full of bias, full of crap,” he says. “We’re just gonna give the people what they want: a positive message — an American message — wrapped up in a conservative viewpoint.” Over the next few weeks, Ailes brings in some of his former cohorts, including Bryan Lewis ( The Orville ’s Seth MacFarlane), CNBC’s VP of Public Relations, and Chet Collier ( Sharp Objects ‘ Guy Boyd), CNBC Senior VP. He also sets up a rather informal meeting with former Bush Sr. campaign staffer, Laurie Luhn ( Peaky Blinders ‘ Annabelle Wallis), who years later would accuse him of sexual abuse. During their get-together, Ailes greets Luhn with a kiss. He later says to her, “I do like you in a pearl necklace.” His intimidating offer to come work for Fox News’ D.C. bureau is intercut with footage of them going back up to her hotel room. Story continues Months later, we see Ailes interview a young brunette in his office, behind closed doors. Her name is Chloe. He comes out from behind his desk, approaches her and tells her to twirl for him. He puts his hands all over her — first her arms, then her waist, and finally her face. At one point, his fingers touch her lips. “How do you get on with your dad?” he asks. The scene ends there. While it’d be years before Ailes’ sexual misconduct caught up to him, we do see instances of him being reprimanded for other inappropriate behavior. Months ahead of the network’s launch, Ailes verbally berates a female reporter in the control room. After she quits, Murdoch calls Ailes up to his office and issues a warning. Ailes, however, thinks he’s invincible. “If I don’t tell you about a problem, then it’s not your problem,” he says to Murdoch. The episode’s climax comes when Ailes calls in all Fox News employees to attend a pre-launch meeting at four — yes, four — in the morning. It’s two weeks before the big day, and the entire operation is a mess. He gets into a screaming match with exec VP Ian Rae, and fires a random employee on the spot. Born from his anger is a rally call. He waxes on about their mission to create a conservative news network that lets the “forgotten American” know “that their voice can, and will be heard… We’ll give them a vision of the world the way it really is, and the way they want it to be.” Their goal is to “reclaim the real America,” he says. “We challenge the existing agenda and we become the loudest voice.” Other key figures in the first hour include Elizabeth Tilson, onetime CNBC VP of Programming and Ailes’ then-girlfriend, whom he’d marry in 1998. Also featured are Ailes’ executive assistant Judy Laterza ( Halt and Catch Fire ’s Aleksa Palladino ) and Sean Hannity ( The Path ‘s Patch Darragh), a young radio shock-jock plucked from Atlanta. Additionally, the episode makes mention of Bill O’Reilly (at one point, Collier alerts Ailes that O’Reilly “lost another producer this morning” due to his infamous temperament), and Hannity’s onetime cohost, the late Alan Colmes. Notably missing is Gretchen Carlson, who would not make her Fox News debut until 2005. (Her portrayer, Naomi Watts, first shows up in Episode 3.) What did you think of The Loudest Voice ? Grade the premiere via the following poll, then drop your thoughts in a comment below. Sign up for TVLine's Newsletter . For the latest news, follow us on Facebook , Twitter , and Instagram .
Lil Nas X seemingly comes out as gay on last day of Pride Month: ‘Thought I made it obvious’ Lil Nas X continues to break barriers. After scoring the song of the summer with his country/hip-hop crossover smash “Old Town Road” (which has been stationed at No. 1 on the Billboard Hot 100 for 12 weeks and has made Billboard’s Hot Country Songs, Hot R&B/Hip-Hop Songs, Rhythmic Songs, and Dance/Mix Show Airplay charts), and even performing the tune with Billy Ray Cyrus at both the BET Awards and Stagecoach Festival, the genre-blurring Atlanta rapper has seemingly come out as gay on the last day of Pride Month. “Some of y’all already know, some of y’all don’t care, some of y’all not gone fwm [f*** with me] no more. But before this month ends I want y’all to listen closely to ‘C7osure,’” Nas tweeted Sunday, referring to a track on his recently released debut EP, 7 . He notably punctuated the tweet with a rainbow emoji. 2019 BET Awards – Arrivals - Los Angeles, California, U.S., June 23, 2019 - Lil Nas X. REUTERS/Monica Almeida some of y’all already know, some of y’all don’t care, some of y’all not gone fwm no more. but before this month ends i want y’all to listen closely to c7osure. 🌈🤩✨ pic.twitter.com/O9krBLllqQ — nope (@LilNasX) June 30, 2019 Key “C7osure” lyrics include “I want and I need to let go/Use my time to be free” and “Pack my past up in the back, oh, let my future take a hold/This is what I gotta do, can't be regretting when I'm old… Embracing this news I behold unfolding/I know, I know, I know it don't feel like it's time/But I look back at this moment, I'll see that I'm fine” — words whose meaning fans are now understanding with fresh ears. Lil NasX has a message for his fans during #Pride Month 🌈 (Swipe) pic.twitter.com/FxU2us3Oi2 — BallerAlert (@balleralert) June 30, 2019 Nas followed up with a second tweet Sunday afternoon that simply stated, “Deadass thought I made it obvious,” with a closeup shot of rainbow imagery in his EP’s cover art. Story continues deadass thought i made it obvious pic.twitter.com/HFCbVqBkLM — nope (@LilNasX) June 30, 2019 Lil Nas X’s revelation is especially brave considering that the country and hip-hop fanbases have been historically conservative and sometimes downright reactionary when it comes to homosexuality, and it is very early in Nas’s career for him to take such a risk. But reaction on Twitter has been largely celebratory and encouraging. Pretty brave tbh considering your fan base is mostly hetero men. Congrats 🌈✨ — K E V I N✨ (@GetawayThrills) June 30, 2019 The only thing bigger for Lil Nas X's career than making a collab with Billy Ray Cyrus is coming out as gay on the last day of #PrideMonth This dude is a marketing genius — THE SCOOP (@TheScoop_US) July 1, 2019 LGBT or not you're a badass artist and badass person! We all love you no matter what and those who say otherwise are nobodies that have nothing better to do than complain about something they can't change. — lil dumpsterfire (@sum_dum_fuker) June 30, 2019 be proud of yourself! You already won! you’ll always be accepted by the real. ur about to really make a change. — ZÉ TAYLOR (@FATHERBONNET) June 30, 2019 Yes. He's out. Congratulations and much love and happiness for the incredibly talented @LilNasX https://t.co/93u89c59BE — Gerard Courcy (@hardcorehangout) July 1, 2019 To Lil Nas X 🏳️‍🌈❤️🤟 pic.twitter.com/7sG0QaW6l2 — Caleb Trent (@gayninja99) July 1, 2019 @lilnasx I am proud of YOU! No judgement, negative people will always complain. However, positivity will manifest when you live right! Be You! God loves and no one can rob you of your joy and smile if you allow it! #period — MadStyleChica15 (@madstylechica15) July 1, 2019 This is cool as hell. Congrats to you @LilNasX I’ll jam out to your shit no matter what🤙🏻 https://t.co/QhyWaKWnBX — Buster (@UAU_Buster) July 1, 2019 pic.twitter.com/erN0aDcgAv — Lisa Steinberg (@GoodHumorGrl) July 1, 2019 Nas’s Twitter announcement arrives in a week when mainstream country music artists Miranda Lambert and Jake Owen have both expressed their support for the LGBTQ community. A source with knowledge of the situation has confirmed to Yahoo Entertainment that Lil Nas X’s tweets and song are his coming-out statement. Yahoo has also reached out to his reps for comment. Read more from Yahoo Entertainment: · Lil Nas X and Billy Ray Cyrus receive warm welcome during historic BET Awards performance · Country star Jake Owen shows off surprising rap skills, defends Lil Nas X, mourns Nipsey Hussle · A ‘progressive twist’: Country star Kelsea Ballerini picks R&B tune on ‘Songland’ · Pop prodigy MNEK on being a black gay role model: 'There's nothing wrong with being myself' Follow Lyndsey on Facebook , Twitter , Instagram , Amazon , Tumblr , Spotify Want daily pop culture news delivered to your inbox? Sign up here for Yahoo Entertainment & Lifestyle’s newsletter.
China June factory activity unexpectedly shrinks as trade war weighs - Caixin PMI BEIJING (Reuters) - China's factory activity unexpectedly shrank in June as domestic and export demand faltered, a private sector business survey showed on Monday, pointing to further strains on its vast manufacturing sector as the Sino-U.S. trade war drags on. The downbeat readings suggest the world's second-largest economy is still losing steam despite a flurry of support over the past year, underlining an urgent need for more stimulus measures. Leaders of the United States and China agreed at the G20 summit in Japan over the weekend to restart trade talks, giving investors some cause for optimism, though analysts say the lack of any substantive agreements from the meeting mean China's economic woes are likely to persist. The Caixin/Markit Manufacturing Purchasing Managers' Index (PMI) for June came in at 49.4, the worst reading since January and below economists' expectations of 50.0. It was the first time in four months that the keenly-watched index has fallen below the neutral 50-mark dividing expansion from contraction on a monthly basis. The survey finding was in line with an official gauge on factory activity published on Sunday, which showed manufacturing contracted at a faster-than-expected pace. "China's economy came under further pressure in June," Zhengsheng Zhong, Director of Macroeconomic Analysis at CEBM Group, wrote in a note accompanying the data. "It's crucial for policymakers to step up countercyclical policies," he said. Factory output and new orders both fell for the first time since January, with some companies reporting they had halted production lines because of the trade dispute. Business confidence dropped to the lowest in over seven years as a result, and manufacturers shed jobs for the third straight month. The Caixin survey's new orders sub-index - which measures new work both from home and abroad - fell sharply to 48.8 from 50.7 in the previous month. Global fallout from the U.S.-China trade war is building as the dispute intensifies and enters its second year, disrupting supply chains, rattling financial markets and discouraging many companies from making new investments. Tensions between the world's two biggest economies escalated sharply in May, when talks to reach a broad deal collapsed as Washington accused Beijing of reneging promises on reforms. Both sides raised tariffs on each others' goods and the White House threatened even more. However, Chinese policymakers have been facing considerable weakness on the home front as well. While tit-for-tat U.S.-China tariffs are expected to hit Chinese export-oriented firms hardest, the PMI survey suggested orders from domestic customers cooled faster in June than new business from abroad. That's despite a sustained economic support programme that began early last year, ranging from higher infrastructure spending to tax cuts to a spate of measures aimed at keeping struggling smaller firms afloat. While new exports orders shrank, pointing to further factory weakness in the third quarter, the drop was modest. CEBM Group's Zhong said that may reflect a rush by Chinese companies to ship goods to the United States ahead of any further tariffs. Similar "front loading" kept China's headline export growth fairly resilient for much of last year before they sharply tapered off in the fourth quarter. With the trade war threatening to grow longer and costlier, many economists believe Beijing will need to roll out more stimulus to meet its 2019 economic growth target of around 6-6.5 percent. Market expectations are centring on further cuts in the amount of cash banks must hold as reserves and even higher fiscal spending, though some China watchers also expect the central bank to cut one or more of its key policy interest rates to reduce corporate borrowing costs.
Euphoria Recap: Catching Feelings Click here to read the full article. Kat gets a thorough introduction to cryptocurrency, humiliation kink and embracing her sexuality in this week’s Euphoria . And in the beaten-down teen psyche landscape that is this show, that’s a major win… even if she has to come face-to-fly-area with a micropeen in order to make it happen. Rue, though. This kid makes me ache. She is FICTIONAL, and yet I am SO WORRIED for her. But maybe, just maybe, she learns how to latch onto an ally at the end of this week’s episode? (Upspeak entirely intentional; I have no idea whether this glimmer of 12-step hope is going to last longer than it takes those pancakes to cook.) Related stories An Appreciation of Euphoria's Male Nudity (But Not Like That, Ya Pervs) Mrs. Fletcher Trailer: Kathryn Hahn Finds Happiness — and Sexual Fulfillment — in New HBO Comedy TVLine Items: Aziz Ansari's Stand-Up Teaser, Chris Klein's Sweet Gig & More Read on for the highlights of “Made You Look.” AN ARCHIVE OF HER OWN | The summer Kat was 11, Rue’s voiceover tells us, her family went to Jamaica. We watch a flashback to that trip, during which Kat got stung by a jellyfish and learned she loved virgin piña coladas. In fact, she drank 72 of them over the course of that week. “She was in heaven,” Rue says. “And then she got home.” Poor Kat realized she’d gained 20 lbs. from all that creamy, coconutty goodness. And that led her boyfriend Daniel, who’d heretofore seemed like the dreamiest thing on Earth, to break up with her during fourth period of the first day of school. A very sad Kat turned to fictional romances for comfort, finding solace in watching Luke and Lorelai on Gilmore Girls , Bill and Sookie on True Blood and Fitz and Olivia on Scandal . “That’s real love, and those were real men,” Rue says. All of the TV-viewing led Kate to start writing fan fiction in the summer before high school, and she soon became one of the most prolific — and smuttiest — authors on Tumblr. To wit: We watch an animated recreation of her NC-17-rated story about One Direction’s Harry Styles and Louis Tomlinson, and it’s hilarious. Story continues euphoria-recap-season-1-episode-3 That story earned Kat a huge online following, which bore no resemblance to her real life as a lonely high school student. She dreamed about telling her followers to storm the school; in a fantasy sequence, we watch that play out as her minions, dressed like extras from Vikings , create carnage in the cafeteria. But when one hunky follower realizes that Kat (also attired in khaleesi chic) doesn’t match up to the image he had of her online, he calls her an imposter and attacks. Kat had always thought that people online wouldn’t like her if they knew what she really looked like, Rue tells us… until the sex tape hit the Internet. And in the present-day, Kat dons black lingerie and a cat mask and dances for her live cam like everyone’s watching. A CLEAN START | Throughout the episode, we see Rue speaking at the Narcotics Anonymous meeting where she gets her 60-days-sober chip. But the thing is, she admits via voiceover, she’s only really been clean for two weeks, since the night of the Fentanyl disaster. We flash back to that evening, as Rue is coming down from the drug in Jules’ bed and Jules is begging her to stop using drugs, because “I’m not trying to become best friends” with someone who’s suicidal, the blonde tells her. “I don’t want to be around you if you don’t stop using drugs.” So Rue tearfully agrees, and after asking Jules to pee in a pill bottle for her, she goes home. Rue’s mom is understandably mad and worried when her daughter rolls in at 5:30 in the morning after being MIA via text and phone all night. But Rue passes her drug test, thanks to Jules’ urine, and tells us that she “decided to stay clean. And I have been, for a while.” Yay, right? Well, there’s something else that’s complicating matters. “I didn’t know it at the time,” Rue says, “but Jules was falling in love.” Yeah, about that… euphoria-recap-season-1-episode-3- RUE RELAPSES | Jules is in deep with ShyGuy118, whom we know is Nate. And I’m pretty sure HE knows who SHE really is, but she definitely has no clue that her text-boyfriend is one of her classmates. She thinks his name is Tyler, that he goes to St. Mary’s and that he lives with only his mother. In a cool split-screen bit, we watch both of them go about their days with their phones glued to their hands, their sweetly intimate conversation unfolding at home, in school, in bed. When a starry-eyed Jules tells Rue, she immediately dismisses him as a “f—kboi.” Jules immediately recognizes that her friend is jealous, but Rue maintains that she’s not. So they act like they’ve moved past it. There’s a funny interlude after “Tyler” sends Jules a photo of his junk (in an aside, Rue gives a tutorial on the different types of d–k pics) but then Jules asks Rue for help taking some artful semi-nude selfies, and Rue has a hard time keeping her cool. Couple that with the fact that Jules — whether or not she’s aware of the feelings Rue has caught for her — is incredibly physically affectionate, especially when she realizes that Rue has been clean for two weeks? Yeah, it’s no surprise when Rue (unbeknownst to Jules) grabs some prescription pills off Jules’ kitchen counter and then abruptly leaves. Outside she pops some of the meds in her mouth and then hops on her bike. ENTER ALI | Rue rides to a NA meeting, and that’s when we realize that the meeting where she spoke is this one: She was on drugs while talking about being off of them. Outside, a man named Ali starts asking her questions about her sister and about whether she thinks Jia’s finding her will mess the younger girl up for life. Ali also completely knows that Rue lied about being clean. “Let me know when you want to stop trying to kill yourself,” he says, giving her his number. euphoria-recap-season-1-episode-3- At home, Rue finds Jia watching My So-Called Life in her room and curls up alongside her. “Please promise me you will never fall for a Jordan Catalano,” Rue deadpans. “But he’s so cute!” Jia says, giggling. Aww. But that moment of peace and calm is fleeting. The next day at school, Jules is excited because Tyler wants to meet her that night after the carnival. Rue doesn’t think this is a safe proposition. And the more she’s against it, the more Jules feels like her bestie is letting her down. It ends badly, so Rue goes to Jules’ after school to tearfully explain that she just doesn’t want anything bad to happen to her. Jules’ anger dissipates, and soon they’re hugging with their foreheads touching. There’s definitely a MOMENT, but when Rue seizes it and kisses Jules, the surprised blonde pulls away and Rue immediately panics, cries and leaves. She makes a beeline for Fezco’s, where she bangs on the door and begs for him to sell her some Oxycontin, but he won’t let her in. “I’m not gonna help you kill yourself, Rue,” he tells her through the door. This sparks an angry tirade in which she calls him out on his hypocrisy: He was happy to help her get hooked on the stuff, and now he’s growing a conscience about it? “You f–king ruined my life,” she sobs on his doorstep. “The least you could do is open the goddamn door and fix it.” He’s clearly torn up, but he won’t grant her wish. (Side note: Wow Zendaya is so good in this episode, no?) At the end of the episode, Rue pulls out her phone and calls Ali to see if he still wants to get “pancakes or something.” euphoria-recap-season-1-episode-3- MADDY’S ON IT | Meanwhile, after Nate and Maddy have sex, she gets suspicious and decides to spy on his phone while he’s in the shower. She has no idea who he’s talking to — since he and Jules have been communicating through the dating app, it’s not super simple to see their conversations — but she knows something’s up when she opens the photo gallery and sees all the shots he’s taken of his Little Nate. She bails, giving him a made-up excuse for why she has to leave, and he’s none the wiser. MEOW! | Back to Kat: Her new online audience isn’t growing at the rate she’d like, but checking out one of the guys who likes her vids leads her to glean that he’s into humiliation porn. It turns out the guy is willing to pay her to Skype with him, so she gets a quick lesson on bitcoin from Fezco and his hilarious little brother, and then she’s good to go. Her new benefactor refers to himself as “kind of an odd duck” who has some “extreme kinks.” Chief among them: the desire for a beautiful woman to mock him for his micropenis. Which we see, of course, because that’s how this show rolls. Kat is down for it, so he has a very good time while she’s laughing and pointing, and then he suggests that he be her “cash pig” who will pay her for lots of things, including whenever she wants to “fine” him for not doing what she says. euphoria-recap-season-1-episode-3- She uses the cash she makes to buy a new mini-wardrobe and arrives at school the next day sporting a much different look: fishnets, boots, corset-over-tee-shirt, dramatic makeup and a choker that reads “Kitty.” Sweet Ethan, who earlier in the episode bought her a grapefruit when she didn’t have enough money for lunch, gazes at her in wonder. “You look different,” he notes. “I changed,” she says airily. Now it’s your turn. What did you think of the episode? Sound off in the comments! Sign up for TVLine's Newsletter . For the latest news, follow us on Facebook , Twitter , and Instagram .
Taiwan's president to visit U.S. in July, angering China By Yimou Lee TAIPEI (Reuters) - Taiwan President Tsai Ing-wen will spend four nights in the United States in July while visiting Caribbean diplomatic allies, her government said on Monday, angering China, which urged Washington not to allow her to visit. China says self-ruled Taiwan is merely a Chinese province with no right to state-to-state relations, calling it the most sensitive and important issue in ties with the United States, which has no formal ties with Taipei, but is its chief diplomatic backer and supplier of arms. Taiwan's Deputy Foreign Minister Miguel Tsao said Tsai will spend two nights in the United States each way during her trip to St Vincent and the Grenadines, St Lucia, St Kitts and Nevis, and Haiti from July 11 to 22. Details of the U.S. portion of the trip were still being worked out, he added. Taiwan's Central News Agency said Tsai was expected to transit in New York and Denver. Tsai's time in the United States will be unusually long, as normally she spends just a night at a time on transit stops, but a State Department spokeswoman said there had been no change in the U.S. "one-China" policy, under which Washington officially recognizes Beijing and not Taipei, while assisting Taiwan. "The United States facilitates, from time to time, representatives of the Taiwan authorities to transit the United States," the spokeswomen said. "Such transits are undertaken out of consideration for the safety, comfort, convenience and dignity of the passenger and are in keeping with our one-China policy." In Beijing, Chinese Foreign Ministry spokesman Geng Shuang said China urges the United States "not to allow Tsai Ing-wen to transit, and cautiously and appropriately handle Taiwan related issues, to avoid harming Sino-U.S. relations and peace and stability in the Taiwan Strait". China has already expressed its concern to the United States and lodged "stern representations," he told a daily news briefing. Story continues Taiwan has been trying to shore up its diplomatic alliances amid pressure from China, which has been whittling down its few remaining diplomatic allies, especially in the Caribbean and Latin America. The four Caribbean allies share similar ideals with Taiwan, Tsao said, adding that the theme of the visit is "freedom, democracy and sustainable governance". However, he added that the visit to Haiti, the Western Hemisphere's poorest nation, will be less than 24 hours due to unrest there. Protesters have for months agitated to remove President Jovenel Moise, a former businessman who took office in February 2017. Tsai, who faces re-election in January, has repeatedly called for international support to defend Taiwan's democracy in the face of Chinese threats. She last went to the United States in March, stopping over in Hawaii at the end of a Pacific tour. Beijing has regularly sent military aircraft and ships to circle Taiwan on drills in the past few years. Taiwan now has formal ties with only 17 countries, almost all small nations in Central America and the Pacific. The Solomon Islands will send a delegation to study Chinese aid in neighboring countries as it considers a diplomatic switch to Beijing, the delegation leader said last week. (Reporting by Yimou Lee; Additional reporting by Ben Blanchard in BEIJING and David Brunnstrom in WASHINGTON; Editing by Clarence Fernandez, Christian Schmollinger and Diane Craft)
Enjoyed The Loudest Voice? We've got a reading list for you The thing about TV miniseries is they can seldom pack in all the information you want to know. And even if you’ve read The Loudest Voice in the Room , the Gabriel Sherman book on which Showtime’s new Roger Ailes-focused miniseries is based, you’ll likely come away wanting to know more: What was it really like to work at Fox News during Ailes’ reign? How did we get to this point in history? Did Richard Nixon have anything to do with this? Fortunately for you inquisitive folks, EW has assembled a list of books for you to further indulge your curiosity. They aren’t all directly related to Roger Ailes or Fox News or even Donald Trump, but all of them have something to do with the themes and concerns of The Loudest Voice : the rise of conservative media; how our current, cacophonous political and media landscapes developed; and how the modern conservative movement was shaped. Read on for eight books that make perfect, if not always obvious, companion pieces to The Loudest Voice . Rupert Murdoch: The Untold Story of the World’s Greatest Media Wizard Crown Business Fox News was the brainchild of two men. One, of course, was Ailes, who led the network from its inception until his 2016 ouster. The other, who tasked Ailes with building a 24-hour news channel, was Rupert Murdoch , head of the ( pre-Disney ) News Corp/Fox media empire. In this 2001 tome, journalist Neil Chenoweth chronicles how Murdoch built that empire, digging with excruciating detail into the mogul’s ruthless business practices and aggressive expansion tactics. (For instance: While trying to expand his business in China, Murdoch forced News Corp-owned HarperCollins to drop a book by the last British governor of Hong Kong.) It’s a timely tale of kingdom-scale conglomerates and ever-more-consolidated media brands. Nixonland Scribner In 1967, a young Roger Ailes met Richard Nixon on the set of The Mike Douglas Show . A year later, Ailes was working for the Nixon campaign as an “executive producer for television,” helping refashion the infamously stilted candidate and propel him to triumph. Of course, there was more at work behind Nixon’s victory. Nixonland surveys the many Americans reeling from the 1960s’ cultural upheaval, racial tensions, and political violence. Over nearly 900 riveting pages, author Rick Perlstein details how Nixon exploited fear, bigotry, and paranoia to win the presidency twice, and in the process solidified the ideological divisions we live with today. Upon the book’s release, some critics were unconvinced , noting the chaotic ’60s bore less resemblance to contemporary America than Perlstein claimed. Eight years later, Roger Ailes helped another man, with similar promises to restore “law and order” in the U.S., ascend to the Oval Office. Nixonland just might offer some insight into how and why that happened. Story continues Dark Money: The Hidden History of the Billionaires Behind the Rise of the Radical Right The Loudest Voice chronicles the rise of Fox News over 20 years, as Ailes shepherded it from upstart channel to full-fledged juggernaut, not just in its ratings (it was America’s most-watched cable channel in 2018) but its influence. Like it or not, the network is a major player in our modern political discourse, and its sway in the Trump White House is well-documented . But it’s hardly the only force at work in modern politics, and Dark Money examines one with even greater influence. In this eye-opening book, New Yorker staff writer Jane Mayer untangles the network of lobbyists, think tanks, and fundraisers who have helped shape conservative politics and policies in recent decades. Mainly focused on the Koch brothers , Dark Money details their efforts to push their anti-regulation, anti-taxes, anti-environmental philosophy into mainstream politics and, thus, legislation. It’s hardly a spoiler to say those efforts have been successful. The Fifth Risk W. W. Norton & Company After departing Fox News in 2016 amid multiple harassment allegations, Ailes joined the Trump campaign in an advisory role. His political experience didn’t make much of a difference, it seems. In The Fifth Risk , Michael Lewis (author of Moneyball and The Big Short ) documents the chaos, to put it mildly, of Team Trump’s takeover. Through his reporting, a portrait emerges of a woefully unprepared and willfully ignorant administration, leaving key roles unfilled and filling others with people openly hostile to the departments they were appointed to lead. Lewis relates all this with a sharp, dark sense of humor (“It will make an excellent ruin,” he says of the building containing the Department of Energy) and emphasizes the very real danger in a government that doesn’t know how the government works. If The Loudest Voice chronicles what Roger Ailes built, The Fifth Risk (reportedly set to be adapted for Netflix by the Obamas, no less) is reveals what he has wrought. An Atheist in the FOXhole Dutton The Loudest Voice is a portrait of Fox News from the very top, but this rollicking memoir provides the view from the ground. In 2004, Joe Muto was a staunch liberal who took a job at the notoriously conservative network, eventually working his way up to associate producer on The O’Reilly Factor , then one of Fox’s flagship shows. (Host Bill O’Reilly was fired in 2017 , also amid allegations of harassment, which he denies.) The book culminates with Muto’s 2012 departure from the network, in spectacular fashion: He became the “Fox Mole” for Gawker, leaking inside information to the gossip blog for all of two days before getting caught. Along the way, Atheist provides a heap of anecdotes about Fox News and such figures as Sean Hannity, Ann Coulter, O’Reilly, and Glenn Beck (who gets a dedicated chapter entitled “Rhymes with ‘Cat Bit Hazy'”). It’s nothing particularly explosive, but it’s an amusing ride with self-deprecating humor aplenty, and a compulsively readable account of Fox News’ day-to-day workings. Messengers of the Right: Conservative Media and the Transformation of American Politics University of Pennsylvania Press “Conservative media” is more or less synonymous with “Fox News” these days, but its history stretches further back than many people realize. Nicole Hemmer’s Messengers of the Right tells the story of conservative media’s “little-known first generation,” with a focus on three figures: broadcaster Clarence Manion (whose talk radio show was a forerunner of Rush Limbaugh and Glenn Beck), book publisher Henry Regnery, and National Review publisher William Rusher. Hemmer’s well-researched, witty book follows these men shaking up the media landscape and shrewdly using their platforms to grow the conservative movement and influence national politics. You could almost call Messengers a prequel to The Loudest Voice ; the parallels to our current age are that striking. Broadcast Hysteria: Orson Welles’s War of the Worlds and the Art of Fake News Hill and Wang Once upon a time, there was a thing called radio that entertained Americans nationwide. And once upon a time, Orson Welles, the impresario who would go on to make Citizen Kane, used it to mount an adaptation of H.G. Wells’ The War of the Worlds . That legendary 1938 broadcast caused an infamous mass panic, sending millions of people scrambling in terror, convinced the country had been invaded. Or did it? As further research revealed decades later, contemporary reports of that “mass panic” highly exaggerated the public’s reaction. In Broadcast Hysteria , A. Brad Schwartz investigates not just the veracity of those hyperbolic reports, but why they were so hyperbolic, as well as the ongoing history of truth and fakery in the media. This book, of course, isn’t strictly related to Roger Ailes or Fox News. But it spins a compelling, highly entertaining yarn about how and why people manipulate information (something Ailes knew about) and serves as a cautionary tale for our current moment. The Unwinding: An Inner History of the New America Farrar, Straus and Girou This book is a bit of an outlier, but it reads in hindsight like a vital exploration of so-called “Trump’s America.” (The book was published in 2013.) Since 2016, a raft of thinkpieces and profiles have emerged on the “forgotten” people who bought into Trump’s brand of nostalgic populism. But George Packer got there first. In The Unwinding , the author weaves the true, twisty tales of a former factory worker, a biodiesel entrepreneur, impoverished residents of Tampa, and a disillusioned political operative together with profiles of Elizabeth Warren, Jay-Z , Oprah , and others. He also intersperses “newsreels,” text collages of headlines, song lyrics, and slogans to conjure the mood of a particular time. In its way, The Unwinding explains our current political environment as much as Nixonland or Dark Money : it’s a portrait of an America coming unglued, a country primed for someone to come along with a promise to make it great again. Related content: 5 books to read more about Roger Ailes’ controversial legacy Russell Crowe would rather not talk about Loudest Voice weight gain The Loudest Voic e is long on bluster and blow jobs, short on insight: EW review
SEEK Limited (ASX:SEK) Delivered A Weaker ROE Than Its Industry 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 SEEK Limited (ASX:SEK). SEEK has a ROE of 5.3%, based on the last twelve months. One way to conceptualize this, is that for each A$1 of shareholders' equity it has, the company made A$0.053 in profit. See our latest analysis for SEEK Theformula for return on equityis: Return on Equity = Net Profit ÷ Shareholders' Equity Or for SEEK: 5.3% = AU$48m ÷ AU$1.7b (Based on the trailing twelve months to December 2018.) Most readers would understand what net profit is, but it’s worth explaining the concept of shareholders’ equity. It is the capital paid in by shareholders, plus any retained earnings. You can calculate shareholders' equity by subtracting the company's total liabilities from its total assets. ROE looks at the amount a company earns relative to the money it has kept within the business. 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, all else being equal,a high ROE is better than a low one. Clearly, then, one can use ROE to compare different companies. Arguably the easiest way to assess company's ROE is to compare it with the average in its industry. Importantly, this is far from a perfect measure, because companies differ significantly within the same industry classification. As shown in the graphic below, SEEK has a lower ROE than the average (16%) in the Professional Services 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. Companies usually need to invest money to grow their profits. The cash for investment can come from prior year profits (retained earnings), issuing new shares, or borrowing. 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. While SEEK does have some debt, with debt to equity of just 0.88, we wouldn't say debt is excessive. Its ROE isn't particularly impressive, but the debt levels are quite modest, so the business probably has some real potential. Judicious use of debt to improve returns can certainly be a good thing, although it does elevate risk slightly and reduce future optionality. 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. Of courseSEEK 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.
NBA free agency: Klay Thompson agrees to deal with Warriors Klay Thompson has a new reason to smile after the devastation of his ACL tear in the NBA Finals and the heartbreak of a championship series loss just minutes later. The five-time All-Star and three-time NBA champion has reportedly agreed to a five-year, $190 million deal with the Golden State Warriors, according to The New York Times and San Francisco Chronicle . [Free agency updates: Keep track of the moves, rumors, cap space and more ] Thompson is expected to miss a significant portion of next season after suffering the injury when he landed awkwardly after a dunk attempt in the third quarter of Game 6. Klay Thompson is reportedly staying in Golden State. (Reuters) Prior to the injury, Thompson was putting on display the talent that helped make him a three-time champion with 30 points in the elimination game. One of the best shooters in league history and an elite defender, Thompson is easily worth the risk of a long-term contract coming off a serious injury. Though he’s likely to miss most of next season with the left knee injury, Thompson is expected to eventually return close to form. ACL tears, while serious, don’t tend to have the long-term impact they used to prior to recent medical advances. Thompson, 29, is coming off a fifth-straight All-Star season that saw him average 21.5 points, 3.8 rebounds and 2.4 assists while shooting 40.2 percent from behind the 3-point arc. He’s a career 41.9 percent shooter from distance. 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
A Look At The Intrinsic Value Of Sonic Healthcare Limited (ASX:SHL) Want to participate in ashort research study? Help shape the future of investing tools and you could win a $250 gift card! How far off is Sonic Healthcare Limited (ASX:SHL) from its intrinsic value? Using the most recent financial data, we'll take a look at whether the stock is fairly priced by taking the expected future cash flows and discounting them to their present value. This is done using the Discounted Cash Flow (DCF) model. It may sound complicated, but actually it is quite simple! Companies can be valued in a lot of ways, so we would point out that a DCF is not perfect for every situation. Anyone interested in learning a bit more about intrinsic value should have a read of theSimply Wall St analysis model. View our latest analysis for Sonic Healthcare We are going to use a two-stage DCF model, which, as the name states, takes into account two stages of growth. The first stage is generally a higher growth period which levels off heading towards the terminal value, captured in the second 'steady growth' period. In the first stage we need to estimate the cash flows to the business over the next ten years. Where possible we use analyst estimates, but when these aren't available we extrapolate the previous free cash flow (FCF) from the last estimate or reported value. We assume companies with shrinking free cash flow will slow their rate of shrinkage, and that companies with growing free cash flow will see their growth rate slow, over this period. We do this to reflect that growth tends to slow more in the early years than it does in later years. A DCF is all about the idea that a dollar in the future is less valuable than a dollar today, and so the sum of these future cash flows is then discounted to today's value: [{"": "Levered FCF (A$, Millions)", "2019": "A$686.27", "2020": "A$639.43", "2021": "A$699.44", "2022": "A$748.42", "2023": "A$772.22", "2024": "A$794.76", "2025": "A$816.51", "2026": "A$837.82", "2027": "A$858.94", "2028": "A$880.05"}, {"": "Growth Rate Estimate Source", "2019": "Analyst x2", "2020": "Analyst x3", "2021": "Analyst x2", "2022": "Analyst x1", "2023": "Est @ 3.18%", "2024": "Est @ 2.92%", "2025": "Est @ 2.74%", "2026": "Est @ 2.61%", "2027": "Est @ 2.52%", "2028": "Est @ 2.46%"}, {"": "Present Value (A$, Millions) Discounted @ 7.21%", "2019": "A$640.09", "2020": "A$556.28", "2021": "A$567.55", "2022": "A$566.43", "2023": "A$545.12", "2024": "A$523.29", "2025": "A$501.44", "2026": "A$479.91", "2027": "A$458.90", "2028": "A$438.55"}] Present Value of 10-year Cash Flow (PVCF)= A$5.28b "Est" = FCF growth rate estimated by Simply Wall St The second stage is also known as Terminal Value, this is the business's cash flow after the first stage. The Gordon Growth formula is used to calculate Terminal Value at a future annual growth rate equal to the 10-year government bond rate of 2.3%. We discount the terminal cash flows to today's value at a cost of equity of 7.2%. Terminal Value (TV)= FCF2029× (1 + g) ÷ (r – g) = AU$880m × (1 + 2.3%) ÷ (7.2% – 2.3%) = AU$18b Present Value of Terminal Value (PVTV)= TV / (1 + r)10= A$AU$18b ÷ ( 1 + 7.2%)10= A$9.15b The total value, or equity value, is then the sum of the present value of the future cash flows, which in this case is A$14.43b. In the final step we divide the equity value by the number of shares outstanding.This results in an intrinsic value estimate of A$30.45. Relative to the current share price of A$27.1, the company appears about fair value at a 11% discount to where the stock price trades currently. The assumptions in any calculation have a big impact on the valuation, so it is better to view this as a rough estimate, not precise down to the last cent. We would point out that the most important inputs to a discounted cash flow are the discount rate and of course the actual cash flows. You don't have to agree with these inputs, I recommend redoing the calculations yourself and playing with them. The DCF also does not consider the possible cyclicality of an industry, or a company's future capital requirements, so it does not give a full picture of a company's potential performance. Given that we are looking at Sonic Healthcare as potential shareholders, the cost of equity is used as the discount rate, rather than the cost of capital (or weighted average cost of capital, WACC) which accounts for debt. In this calculation we've used 7.2%, which is based on a levered beta of 0.822. Beta is a measure of a stock's volatility, compared to the market as a whole. We get our beta from the industry average beta of globally comparable companies, with an imposed limit between 0.8 and 2.0, which is a reasonable range for a stable business. Whilst important, DCF calculation shouldn’t be the only metric you look at when researching a company. The DCF model is not a perfect stock valuation tool. Rather it should be seen as a guide to "what assumptions need to be true for this stock to be under/overvalued?" If a company grows at a different rate, or if its cost of equity or risk free rate changes sharply, the output can look very different. For Sonic Healthcare, There are three essential factors you should look at: 1. Financial Health: Does SHL have a healthy balance sheet? Take a look at ourfree balance sheet analysis with six simple checkson key factors like leverage and risk. 2. Future Earnings: How does SHL's growth rate compare to its peers and the wider market? Dig deeper into the analyst consensus number for the upcoming years by interacting with ourfree analyst growth expectation chart. 3. Other High Quality Alternatives: Are there other high quality stocks you could be holding instead of SHL? Exploreour interactive list of high quality stocksto get an idea of what else is out there you may be missing! PS. Simply Wall St updates its DCF calculation for every AU stock every day, so if you want to find the intrinsic value of any other stock justsearch 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.
Calculating The Fair Value Of Sonic Healthcare Limited (ASX:SHL) Want to participate in ashort research study? Help shape the future of investing tools and you could win a $250 gift card! Does the July share price for Sonic Healthcare Limited (ASX:SHL) reflect what it's really worth? Today, we will estimate the stock's intrinsic value by taking the foreast future cash flows of the company and discounting them back to today's value. I will be using the Discounted Cash Flow (DCF) model. It may sound complicated, but actually it is quite simple! We generally believe that a company's value is the present value of all of the cash it will generate in the future. However, a DCF is just one valuation metric among many, and it is not without flaws. If you want to learn more about discounted cash flow, the rationale behind this calculation can be read in detail in theSimply Wall St analysis model. Check out our latest analysis for Sonic Healthcare We are going to use a two-stage DCF model, which, as the name states, takes into account two stages of growth. The first stage is generally a higher growth period which levels off heading towards the terminal value, captured in the second 'steady growth' period. In the first stage we need to estimate the cash flows to the business over the next ten years. Where possible we use analyst estimates, but when these aren't available we extrapolate the previous free cash flow (FCF) from the last estimate or reported value. We assume companies with shrinking free cash flow will slow their rate of shrinkage, and that companies with growing free cash flow will see their growth rate slow, over this period. We do this to reflect that growth tends to slow more in the early years than it does in later years. Generally we assume that a dollar today is more valuable than a dollar in the future, and so the sum of these future cash flows is then discounted to today's value: [{"": "Levered FCF (A$, Millions)", "2019": "A$686.27", "2020": "A$639.43", "2021": "A$699.44", "2022": "A$748.42", "2023": "A$772.22", "2024": "A$794.76", "2025": "A$816.51", "2026": "A$837.82", "2027": "A$858.94", "2028": "A$880.05"}, {"": "Growth Rate Estimate Source", "2019": "Analyst x2", "2020": "Analyst x3", "2021": "Analyst x2", "2022": "Analyst x1", "2023": "Est @ 3.18%", "2024": "Est @ 2.92%", "2025": "Est @ 2.74%", "2026": "Est @ 2.61%", "2027": "Est @ 2.52%", "2028": "Est @ 2.46%"}, {"": "Present Value (A$, Millions) Discounted @ 7.21%", "2019": "A$640.09", "2020": "A$556.28", "2021": "A$567.55", "2022": "A$566.43", "2023": "A$545.12", "2024": "A$523.29", "2025": "A$501.44", "2026": "A$479.91", "2027": "A$458.90", "2028": "A$438.55"}] Present Value of 10-year Cash Flow (PVCF)= A$5.28b "Est" = FCF growth rate estimated by Simply Wall St After calculating the present value of future cash flows in the intial 10-year period, we need to calculate the Terminal Value, which accounts for all future cash flows beyond the first stage. The Gordon Growth formula is used to calculate Terminal Value at a future annual growth rate equal to the 10-year government bond rate of 2.3%. We discount the terminal cash flows to today's value at a cost of equity of 7.2%. Terminal Value (TV)= FCF2029× (1 + g) ÷ (r – g) = AU$880m × (1 + 2.3%) ÷ (7.2% – 2.3%) = AU$18b Present Value of Terminal Value (PVTV)= TV / (1 + r)10= A$AU$18b ÷ ( 1 + 7.2%)10= A$9.15b The total value is the sum of cash flows for the next ten years plus the discounted terminal value, which results in the Total Equity Value, which in this case is A$14.43b. The last step is to then divide the equity value by the number of shares outstanding.This results in an intrinsic value estimate of A$30.45. Relative to the current share price of A$27.1, the company appears about fair value at a 11% discount to where the stock price trades currently. Remember though, that this is just an approximate valuation, and like any complex formula - garbage in, garbage out. Now the most important inputs to a discounted cash flow are the discount rate, and of course, the actual cash flows. If you don't agree with these result, have a go at the calculation yourself and play with the assumptions. The DCF also does not consider the possible cyclicality of an industry, or a company's future capital requirements, so it does not give a full picture of a company's potential performance. Given that we are looking at Sonic Healthcare as potential shareholders, the cost of equity is used as the discount rate, rather than the cost of capital (or weighted average cost of capital, WACC) which accounts for debt. In this calculation we've used 7.2%, which is based on a levered beta of 0.822. Beta is a measure of a stock's volatility, compared to the market as a whole. We get our beta from the industry average beta of globally comparable companies, with an imposed limit between 0.8 and 2.0, which is a reasonable range for a stable business. Whilst important, DCF calculation shouldn’t be the only metric you look at when researching a company. The DCF model is not a perfect stock valuation tool. Rather it should be seen as a guide to "what assumptions need to be true for this stock to be under/overvalued?" If a company grows at a different rate, or if its cost of equity or risk free rate changes sharply, the output can look very different. For Sonic Healthcare, There are three additional factors you should look at: 1. Financial Health: Does SHL have a healthy balance sheet? Take a look at ourfree balance sheet analysis with six simple checkson key factors like leverage and risk. 2. Future Earnings: How does SHL's growth rate compare to its peers and the wider market? Dig deeper into the analyst consensus number for the upcoming years by interacting with ourfree analyst growth expectation chart. 3. Other High Quality Alternatives: Are there other high quality stocks you could be holding instead of SHL? Exploreour interactive list of high quality stocksto get an idea of what else is out there you may be missing! PS. The Simply Wall St app conducts a discounted cash flow valuation for every stock on the ASX every day. If you want to find the calculation for other stocks justsearch 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 You Be Concerned About Washington H. Soul Pattinson and Company Limited's (ASX:SOL) 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. We'll use ROE to examine Washington H. Soul Pattinson and Company Limited (ASX:SOL), by way of a worked example. Our data showsWashington H. Soul Pattinson has a return on equity of 8.4%for the last year. One way to conceptualize this, is that for each A$1 of shareholders' equity it has, the company made A$0.084 in profit. Check out our latest analysis for Washington H. Soul Pattinson Theformula for ROEis: Return on Equity = Net Profit ÷ Shareholders' Equity Or for Washington H. Soul Pattinson: 8.4% = AU$295m ÷ AU$4.5b (Based on the trailing twelve months to January 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 all the money paid into the company from shareholders, plus any earnings retained. The easiest way to calculate shareholders' equity is to subtract the company's total liabilities from the total assets. ROE looks at the amount a company earns relative to the money it has kept within the business. The 'return' is the amount earned after tax over the last twelve months. The higher the ROE, the more profit the company is making. 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. As is clear from the image below, Washington H. Soul Pattinson has a lower ROE than the average (19%) in the Oil and Gas industry. Unfortunately, that's sub-optimal. We'd prefer see an ROE above the industry average, but it might not matter if the company is undervalued. Nonetheless, it could be useful todouble-check if insiders have sold shares recently. 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. That will make the ROE look better than if no debt was used. Although Washington H. Soul Pattinson does use a little debt, its debt to equity ratio of just 0.057 is very low. Its ROE isn't particularly impressive, but the debt levels are quite modest, so the business probably has some real potential. Judicious use of debt to improve returns can certainly be a good thing, although it does elevate risk slightly and reduce future optionality. Return on equity is useful for comparing the quality of different businesses. In my book the highest quality companies have high return on equity, despite low debt. All else being equal, a higher ROE is better. 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. Profit growth rates, versus the expectations reflected in the price of the stock, are a particularly important to consider. So you might want to check this FREEvisualization of analyst forecasts for the company. But note:Washington H. Soul Pattinson may not be the best stock to buy. So take a peek at thisfreelist of interesting companies with 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 Southern Cross Media Group Limited (ASX:SXL) A Smart Choice For Dividend 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 take a closer look at Southern Cross Media Group Limited (ASX:SXL) from a dividend investor's perspective. Owning a strong business and reinvesting the dividends is widely seen as an attractive way of growing your wealth. If you are hoping to live on the income from dividends, it's important to be a lot more stringent with your investments than the average punter. With Southern Cross Media Group yielding 6.2% and having paid a dividend for over 10 years, many investors likely find the company quite interesting. We'd guess that plenty of investors have purchased it for the income. Some simple analysis can offer a lot of insights when buying a company for its dividend, and we'll go through this below. Explore this interactive chart for our latest analysis on Southern Cross Media Group! Companies (usually) pay dividends out of their earnings. If a company is paying more than it earns, the dividend might have to be cut. Comparing dividend payments to a company's net profit after tax is a simple way of reality-checking whether a dividend is sustainable. Although Southern Cross Media Group pays a dividend, it was loss-making during the past year. When a company recently reported a loss, we should investigate if its cash flows covered the dividend. The company paid out 63% of its free cash flow, which is not bad per se, but does start to limit the amount of cash Southern Cross Media Group has available to meet other needs. Given Southern Cross Media Group is paying a dividend but reported a loss over the past year, we need to check its balance sheet for signs of financial distress. A rough way to check this is with these two simple ratios: a) net debt divided by EBITDA (earnings before interest, tax, depreciation and amortisation), and b) net interest cover. Net debt to EBITDA measures total debt load relative to company earnings (lower = less debt), while net interest cover measures the ability to pay interest on the debt (higher = greater ability to pay interest costs). With net debt of 1.91 times its EBITDA, Southern Cross Media Group has an acceptable level of debt. Net interest cover can be calculated by dividing earnings before interest and tax (EBIT) by the company's net interest expense. Net interest cover of 8.87 times its interest expense appears reasonable for Southern Cross Media Group, although we're conscious that even high interest cover doesn't make a company bulletproof. We update our data on Southern Cross Media Group every 24 hours, so you can always getour latest analysis of its financial health, here. From the perspective of an income investor who wants to earn dividends for many years, there is not much point buying a stock if its dividend is regularly cut or is not reliable. For the purpose of this article, we only scrutinise the last decade of Southern Cross Media Group's dividend payments. This dividend has been unstable, which we define as having fallen by at least 20% one or more times over this time. During the past ten-year period, the first annual payment was AU$0.09 in 2009, compared to AU$0.077 last year. The dividend has shrunk at around 1.5% a year during that period. Southern Cross Media Group's dividend hasn't shrunk linearly at 1.5% per annum, but the CAGR is a useful estimate of the historical rate of change. We struggle to make a case for buying Southern Cross Media Group for its dividend, given that payments have shrunk over the past ten years. With a relatively unstable dividend, it's even more important to see if earnings per share (EPS) are growing. Why take the risk of a dividend getting cut, unless there's a good chance of bigger dividends in future? It's good to see Southern Cross Media Group has been growing its earnings per share at 36% a year over the past 5 years. To summarise, shareholders should always check that Southern Cross Media Group's dividends are affordable, that its dividend payments are relatively stable, and that it has decent prospects for growing its earnings and dividend. We're a bit uncomfortable with the company paying a dividend while being loss-making, although at least the dividend was covered by free cash flow. Next, earnings growth has been good, but unfortunately the dividend has been cut at least once in the past. In sum, we find it hard to get excited about Southern Cross Media Group from a dividend perspective. It's not that we think it's a bad business; just that there are other companies that perform better on these criteria. Earnings growth generally bodes well for the future value of company dividend payments. See if the 5 Southern Cross Media Group analysts we track are forecasting continued growth with ourfreereport on analyst estimates for the company. Looking for more high-yielding dividend ideas? Try ourcurated list of dividend stocks with a yield above 3%. 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.
NASA's TESS spacecraft discovers its smallest exoplanet to date NASA'sTESS spacecraftis continuing to findever-smaller planets-- and that now includes planets smaller than the human homeworld. The vessel has found a planet in the L 98-59 system, L 98-59b, that's 80 percent the size of Earth -- and 10 percent smaller than TESS' previous tiniest finding. You won't be planning a vacation any time soon, unfortunately. The system is 34.6 light-years away, and all of the planets discovered so far (there are larger 59c and 59d planets) sit in the "Venus zone" where arunaway greenhouse gas effectcould render them uninhabitable. TESS spotted the planets by using transits (regular dips in the star's brightness caused by passing planets). You might get more information soon, at least. TESS completes its first year of studies in July, and that could be enough to both collect more detail about the known planets and possibly spot more. This isn't a record for NASA as a whole.Kepler-37b, for instance, is barely larger than the Moon. This shows that TESS can spot a wide range of exoplanets, though, and raises hope that it'll detect rocky worlds that warrant closer study with theJames Webb Space Telescope. This isn't just about the quest to find extrasolar life, either. The data could help explain why planets either become habitable or devolve into Venus-like hellscapes.
Facebook to make jobs, credit ads searchable for US users BOSTON (AP) — Facebook says it will make advertisements for jobs, loans and credit card offers searchable for all U.S. users following a legal settlement designed to eliminate discrimination on its platform. The plan disclosed in an internal report Sunday voluntarily expands on a commitment the social medial giant made in March when it agreed to make its U.S. housing ads searchable by location and advertiser. Ads were only delivered selectively to Facebook users based on such data as what they earn, their education level and where they shop. The audit's leader, former American Civil Liberties Union executive Laura Murphy, was hired by Facebook in May 2018 to assess its performance on vital social issues. Murphy has consulted with dozens of civil rights groups on the subject as part of her yearlong audit, assisted by lawyers from the firm Relman, Dane & Colfax. Sunday's 26-page report , which also deals with content moderation and enforcement and efforts to prevent meddling in the 2020 U.S. elections and census, was her second update. The searchable housing ads database will roll out by the end of 2019, Facebook says, and Murphy said she expects the employment and financial product offerings databases to be available within the next year. Murphy said she's "very excited" about the move she believes will positively impact the social mobility of millions in the United States. Targeted ads tailored to individuals are Facebook's bread and butter — accounting for all but a sliver of its more than $50 billion in annual revenues last year. It's unlikely that making the ads searchable would have a significant effect on Facebook's business. Analysts have cautioned, however, that any restrictions on Facebook's ability to target ads could scare off advertisers. The move is likely part of Facebook's strategy to show regulators that is doing a good job policing its own service — putting it in compliance with existing anti-discrimination law — and doesn't need a heavy-handed approach from lawmakers. It comes as the company is facing increasing regulatory pressures. Story continues As part of the settlement with plaintiffs including the ACLU and the National Fair Housing Alliance, Facebook agreed in March to stop targeting people based on age, gender and zip code and to also eliminate such categories as national origin and sexual orientation. The groups had sued claiming Facebook violated anti-discrimination laws by preventing audiences including single mothers and the disabled from seeing many housing ads — while some job ads were not reaching women and older workers. Galen Sherwin, senior staff attorney at the ACLU and the group's lead attorney in the case, said making the three Facebook databases searchable by anyone "definitely creates greater access to information about economic opportunities." Civil rights groups are concerned that the secretive, proprietary algorithms that govern how the company steers ads— even when not consciously targeting specific groups — could still be discriminatory. "I wish we could see into the black box," Sherwin said. Facebook still faces a U.S. Department of Housing and Urban Development complaint over housing ad-targeting and delivery. Murphy, the auditor, said she thinks the company understands it's "going to have to look at the algorithms" behind them. The company also faces privacy and anti-trust investigations in the U.S. and Europe over its invasive data collection practices and struggles to police hate speech globally with sometimes lethal repercussions. Facebook is currently in talks to create an external oversight board to monitor such issues and its level of independence is one subject of debate. Sunday's audit update also addresses Facebook's efforts to shed "harmful content," including a new U.S. pilot program where dedicated monitors will focus on hate speech alone. A few dozen are involved so far, the company said. All come from the more than 20,000 outsourced content moderators who screen the 2.3 billion-user platform, the company said. Audit team recommendations include ending a carve-out for humor as an exception in hate speech and devising better mechanisms for blocking harassment, which can be especially overwhelming when automated. Simply defining actionable hate speech — which can vary by nation, region, language and cultural context — is a tall order. The report says Facebook is committed to stepping up efforts to fight voting suppression in 2020 elections and plans to have ready by fall policies to counter attempts to interfere in the census. ___ AP Technology Writer Barbara Ortutay contributed to this story from San Francisco. ___ Frank Bajak on Twitter: http://twitter.com/fbajak
An Intrinsic Calculation For Southern Cross Media Group Limited (ASX:SXL) Suggests It's 38% Undervalued Want to participate in ashort research study? Help shape the future of investing tools and you could win a $250 gift card! Does the July share price for Southern Cross Media Group Limited (ASX:SXL) reflect what it's really worth? Today, we will estimate the stock's intrinsic value by taking the foreast future cash flows of the company and discounting them back to today's value. I will use the Discounted Cash Flow (DCF) model. Don't get put off by the jargon, the math behind it is actually quite straightforward. Companies can be valued in a lot of ways, so we would point out that a DCF is not perfect for every situation. If you want to learn more about discounted cash flow, the rationale behind this calculation can be read in detail in theSimply Wall St analysis model. See our latest analysis for Southern Cross Media Group We use what is known as a 2-stage model, which simply means we have two different periods of growth rates for the company's cash flows. Generally the first stage is higher growth, and the second stage is a lower growth phase. In the first stage we need to estimate the cash flows to the business over the next ten years. Where possible we use analyst estimates, but when these aren't available we extrapolate the previous free cash flow (FCF) from the last estimate or reported value. We assume companies with shrinking free cash flow will slow their rate of shrinkage, and that companies with growing free cash flow will see their growth rate slow, over this period. We do this to reflect that growth tends to slow more in the early years than it does in later years. Generally we assume that a dollar today is more valuable than a dollar in the future, and so the sum of these future cash flows is then discounted to today's value: [{"": "Levered FCF (A$, Millions)", "2019": "A$88.00", "2020": "A$94.00", "2021": "A$95.80", "2022": "A$97.74", "2023": "A$99.81", "2024": "A$101.98", "2025": "A$104.24", "2026": "A$106.58", "2027": "A$108.99", "2028": "A$111.48"}, {"": "Growth Rate Estimate Source", "2019": "Analyst x1", "2020": "Analyst x1", "2021": "Est @ 1.91%", "2022": "Est @ 2.03%", "2023": "Est @ 2.12%", "2024": "Est @ 2.17%", "2025": "Est @ 2.22%", "2026": "Est @ 2.24%", "2027": "Est @ 2.26%", "2028": "Est @ 2.28%"}, {"": "Present Value (A$, Millions) Discounted @ 8.14%", "2019": "A$81.38", "2020": "A$80.38", "2021": "A$75.75", "2022": "A$71.47", "2023": "A$67.49", "2024": "A$63.77", "2025": "A$60.27", "2026": "A$56.99", "2027": "A$53.89", "2028": "A$50.97"}] Present Value of 10-year Cash Flow (PVCF)= A$662.37m "Est" = FCF growth rate estimated by Simply Wall St The second stage is also known as Terminal Value, this is the business's cash flow after the first stage. The Gordon Growth formula is used to calculate Terminal Value at a future annual growth rate equal to the 10-year government bond rate of 2.3%. We discount the terminal cash flows to today's value at a cost of equity of 8.1%. Terminal Value (TV)= FCF2029× (1 + g) ÷ (r – g) = AU$111m × (1 + 2.3%) ÷ (8.1% – 2.3%) = AU$2.0b Present Value of Terminal Value (PVTV)= TV / (1 + r)10= A$AU$2.0b ÷ ( 1 + 8.1%)10= A$894.86m The total value, or equity value, is then the sum of the present value of the future cash flows, which in this case is A$1.56b. In the final step we divide the equity value by the number of shares outstanding.This results in an intrinsic value estimate of A$2.02. Compared to the current share price of A$1.25, the company appears quite undervalued at a 38% discount to where the stock price trades currently. Valuations are imprecise instruments though, rather like a telescope - move a few degrees and end up in a different galaxy. Do keep this in mind. Now the most important inputs to a discounted cash flow are the discount rate, and of course, the actual cash flows. If you don't agree with these result, have a go at the calculation yourself and play with the assumptions. The DCF also does not consider the possible cyclicality of an industry, or a company's future capital requirements, so it does not give a full picture of a company's potential performance. Given that we are looking at Southern Cross Media Group as potential shareholders, the cost of equity is used as the discount rate, rather than the cost of capital (or weighted average cost of capital, WACC) which accounts for debt. In this calculation we've used 8.1%, which is based on a levered beta of 0.978. Beta is a measure of a stock's volatility, compared to the market as a whole. We get our beta from the industry average beta of globally comparable companies, with an imposed limit between 0.8 and 2.0, which is a reasonable range for a stable business. Although the valuation of a company is important, it shouldn’t be the only metric you look at when researching a company. The DCF model is not a perfect stock valuation tool. Rather it should be seen as a guide to "what assumptions need to be true for this stock to be under/overvalued?" If a company grows at a different rate, or if its cost of equity or risk free rate changes sharply, the output can look very different. What is the reason for the share price to differ from the intrinsic value? For Southern Cross Media Group, I've put together three fundamental factors you should look at: 1. Financial Health: Does SXL have a healthy balance sheet? Take a look at ourfree balance sheet analysis with six simple checkson key factors like leverage and risk. 2. Future Earnings: How does SXL's growth rate compare to its peers and the wider market? Dig deeper into the analyst consensus number for the upcoming years by interacting with ourfree analyst growth expectation chart. 3. Other High Quality Alternatives: Are there other high quality stocks you could be holding instead of SXL? Exploreour interactive list of high quality stocksto get an idea of what else is out there you may be missing! PS. The Simply Wall St app conducts a discounted cash flow valuation for every stock on the ASX every day. If you want to find the calculation for other stocks justsearch 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.
Japan to tighten tech material exports to South Korea in wartime labour row By Makiko Yamazaki and Ju-min Park TOKYO/SEOUL (Reuters) - Japan will tighten curbs on exports of high-tech materials used in smartphone displays and chips to South Korea amid a growing dispute over South Koreans forced to work for Japanese firms during World War Two, the industry ministry said on Monday, prompting condemnation from Seoul. Tighter export controls, to become effective on Thursday, would slow the export process by several months, hitting South Korean tech giants, such as Samsung Electronics, SK Hynix and LG Display. The step comes amid Tokyo's growing frustration at what it calls a lack of action by Seoul over issues stemming from its top court ruling last October that ordered Nippon Steel to compensate former forced labourers. South Korea's industry minister, Sung Yun-mo, said: "We will take necessary countermeasures including filing a complaint to the (World Trade Organization)." "Our government expressed deep regret" over Japan's tightening of its materials shipments, Sung said. South Korea's finance minister also called a meeting to discuss plans for reacting to Japan's move, finance ministry officials said. The South Korean foreign ministry as well summoned Japan's ambassador and called for a withdrawal of the curbs, it said. Japan rejected South Korea's proposal last month to create a joint compensation fund for victims with contributions from both nations' companies. "South Korea has failed to show any satisfactory measures to resolve the forced labour issue ... and severely damaged mutual trust," said an official of the Japanese Ministry of Economy, Trade and Industry. "As trust has been lost, we cannot have a dialogue and are unable to ensure that proper export controls are being taken," he told a news briefing. The neighbours share a bitter history dating to the Japanese colonisation of the Korean peninsula from 1910 to 1945, including forced use of labour by Japanese companies and the use of comfort women, a euphemism for girls and women, many of them Korean, forced to work in its wartime brothels. Japan, which says the issue of forced labour was fully settled in 1965 when the two countries restored diplomatic ties, has denounced the rulings and urged the launch of an arbitration panel. The materials to be restricted are fluorinated polyimides, used in smartphone displays, as well as resists and hydrogen fluoride (HF), which is used as an etching gas to make semiconductors. Resists are thin layers of material used to transfer circuit patterns to a semiconductor substrate. Hydrogen fluoride is used in etching silicon materials. Japan will stop preferential treatment for shipments of these three materials to South Korea, requiring exporters to seek permission each time they want to ship, which takes about 90 days, the ministry official said. Japan produces about 90% of fluorinated polyimides and resists worldwide as well as about 70% of etching gas, making it difficult for chipmakers to find alternatives, said the Sankei newspaper, which reported the plans on Sunday. A source at one of South Korea's top memory chipmakers said chipmakers would have to try to build stockpiles, adding that the company relies on Japan for more than 70 percent of its resists and etching gas. Samsung Electronics, the world's top memory maker, said it was looking into the matter, but offered no further comment. LG Display, a Apple supplier, said in a statement that the company would see "some" impact from any trade condition changes with Japan. SK Hynix declined comment. Sung, the South Korean industry minister, said the country had been diversifying import sources and localizing supplies to cope with Japan's "one-sided" measure. In Tokyo, shares of resist maker JSR and fluorochemicals maker Kanto Denka Kogyo plunged, but small South Korean material producers gained. Japan also plans to strip white list status from South Korea under a trade control law, requiring Japanese exporters to seek a licence for items that could be used in some weapons-related applications. On Japan's white list are 27 countries, from Germany to South Korea, Britain and the United States. South Korean exporters and experts urged the administration of President Moon Jae-in to step in and resolve the tension. "This is not a problem starting from the business sector, and I think our government should stand up and try to fix this while companies are taking a hit," Lee Soo-chul, a board member of the Seoul-Tokyo Forum, a private foundation of diplomats and businessmen from both countries, told Reuters. "But I am not sure if the current government is realizing how critical this situation is," said Lee, a former head of Samsung Group's Japanese operations. (Reporting by Makiko Yamazaki and Ju-min Park; Additional reporting by Hyonhee Shin, Heekyong Yang, Hyunjoo Jin and Sangmi Cha; Editing by Sam Holmes, Clarence Fernandez and Tom Hogue)
Volatility 101: Should AUB Group (ASX:AUB) Shares Have Dropped 23%? Want to participate in a short research study ? Help shape the future of investing tools and you could win a $250 gift card! The simplest way to benefit from a rising market is to buy an index fund. While individual stocks can be big winners, plenty more fail to generate satisfactory returns. Investors in AUB Group Limited ( ASX:AUB ) have tasted that bitter downside in the last year, as the share price dropped 23%. That contrasts poorly with the market return of 11%. Longer term investors have fared much better, since the share price is up 4.1% in three years. The falls have accelerated recently, with the share price down 21% in the last three months. See our latest analysis for AUB Group While the efficient markets hypothesis continues to be taught by some, it has been proven that markets are over-reactive dynamic systems, and investors are not always rational. One flawed but reasonable way to assess how sentiment around a company has changed is to compare the earnings per share (EPS) with the share price. Unhappily, AUB Group had to report a 5.4% decline in EPS over the last year. This reduction in EPS is not as bad as the 23% share price fall. Unsurprisingly, given the lack of EPS growth, the market seems to be more cautious about the stock. The graphic below depicts how EPS has changed over time (unveil the exact values by clicking on the image). ASX:AUB Past and Future Earnings, July 1st 2019 It might be well worthwhile taking a look at our free report on AUB Group's earnings, revenue and cash flow . What About Dividends? When looking at investment returns, it is important to consider the difference between total shareholder return (TSR) and share price return . The TSR incorporates the value of any spin-offs or discounted capital raisings, along with any dividends, based on the assumption that the dividends are reinvested. It's fair to say that the TSR gives a more complete picture for stocks that pay a dividend. In the case of AUB Group, it has a TSR of -20% for the last year. That exceeds its share price return that we previously mentioned. This is largely a result of its dividend payments! Story continues A Different Perspective While the broader market gained around 11% in the last year, AUB Group shareholders lost 20% (even including dividends). However, keep in mind that even the best stocks will sometimes underperform the market over a twelve month period. Longer term investors wouldn't be so upset, since they would have made 3.5%, each year, over five years. It could be that the recent sell-off is an opportunity, so it may be worth checking the fundamental data for signs of a long term growth trend. Most investors take the time to check the data on insider transactions. You can click here to see if insiders have been buying or selling. If you like to buy stocks alongside management, then you might just love this free list 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 AU 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 at editorial-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.
European Equities: The G20 Summit Sets the Majors Up for a Bounce • Spanish Manufacturing PMI (Jun) • Italian Manufacturing PMI (Jun) • French Manufacturing PMI (Jun) Final • German Manufacturing PMI (Jun) Final • German Unemployment Change (Jun) • German Unemployment Rate (Jun) • Eurozone Manufacturing PMI (Jun) Final • Eurozone Unemployment Rate (May) • German Retail Sales m/m (May) • Spanish Services PMI (Jun) • Italian Services PMI (Jun) • French Services PMI (Jun) Final • German Services PMI (Jun) Final • Eurozone Markit Composite PMI (Jun) Final • Eurozone Services PMI (Jun) Final • Eurozone Retail Sales m/m (May) • German Factory Orders m/m (May) • German Industrial Production m/m (May) The European majors bounced back on Friday, with the DAX30 leading the way, rallying by 1.04% to end the week up by 0.48%. For the CAC40, a 0.83% gain brought a 5 day run of losses to an end, with the CAC40 ending the week up by 0.19%. The EuroStoxx600 ended the day up by 0.7% to leave the index with a 0.03% gain for the week. Support for the major came from positive chatter from the U.S administration ahead of Trump’s planned meeting with China’s Premier Xi. Economic data out of the Eurozone included prelim June inflation figures out of France, Italy and the Eurozone. May consumer spending figures out of France were also in focus. The stats were skewed to the positive, with French consumer spending rising by 0.4% in May. Inflation also picked up in June, with the Eurozone’s core annual rate of inflation rising from 0.8% to 1.1%. Forecasts were for a 1% rise. The Eurozone’s annual rate of inflation held steady at 1.2%. According toEurostat, supporting inflation were • Food, alcohol & tobacco, energy, and services, with estimates pointing to 1.6% increases. • The annual rate of non-energy industrial goods was forecasted to increase by just 0.2%. Out of the U.S, a contraction in Chicago’s manufacturing sector failed to impact risk sentiment. Inflation held steady at 1.6%, according to the FED’s preferred core PCE price index figures. While easing from a 0.6% rise in April, personal spending rose by 0.4%, which was in line with forecasts. In contrast to the CB Consumer Confidence figures released earlier in the week, the Michigan Consumer Sentiment Index came in at 98.2. While down from May’s 100.0, the index came in ahead of a prelim 97.9. From the DAX, bank stocks were on the move. Deutsche Bank was amongst the front runners on Friday, rallying by 1.41%, with Commerzbank up by 1.92%. From the auto sector, Continental ended the day up by 1.01%. Daimler and Volkswagen also made gains on the day, rising by 1.14% and by 0.43% respectively. BMW bucked the trend, however, falling by 0.2%. From the CAC, BNP Paribas and Credit Agricole gained 0.77% and 0.52% respectively, while Renault jumped by 1.54% on the day. It’s a busy day ahead. Key stats due out of the Eurozone include finalized French, German, and Eurozone manufacturing PMI numbers for June. Ahead of the numbers, Italy and Spain’s manufacturing PMIs will also be in focus. Later in the morning, Eurozone unemployment figures will likely have a muted impact on the majors. Any revisions to Germany’s PMI will influence the DAX and the EuroStoxx600 in particular. Hopes of an end to the U.S – China trade war would limit any impact, however. While we can expect some direction from the numbers, positive updates from the G20 Summit from Saturday will drive demand for the majors through the day. At the time of writing, the DAX was up by 100.5 points. The Dow Mini was up by 202 points. Thisarticlewas originally posted on FX Empire • European Equities: Can the Majors Really Continue to Rise with Weak Stats? • GBP/USD Daily Forecast – Sterling Extends Losses, 1.2600 in Focus • EUR/USD Daily Forecast – Euro Falls Below 1.1300 • The RBA Cuts Rates as Trump Talks of Tariffs on EU Goods • US Stock Market Overview – S&P Hit Fresh All Time High as Geopolitical Tensions Ease • AUD/USD Forex Technical Analysis – Could Be Headed into .6931 to .6908
Scooter Braun’s wife says Taylor Swift is lying: “How embarrassing this temper tantrum is because you didn’t get your own way” We’ve heard from Taylor Swift and Justin Bieber . Now, Scooter Braun’s wife has chimed in on the ongoing brouhaha resulting from her husband’s acquisition of Swift’s master recordings . In a lengthy post to social media on Sunday, Swift called news of Braun’s purchase “my worst case scenario.” She accused the music mogul of “incessant, manipulative bullying” and claimed Braun “stripped me of my life’s work, that I wasn’t given an opportunity to buy.” Braun’s longtime client, Bieber, subsequently questioned Swift’s motives to go public, writing in an Instagram post: “What were you trying to accomplish by posting that blog? seems to me like it was to get sympathy u also knew that in posting that your fans would go and bully scooter.” Braun’s wife, Yael Cohen Braun, also sought to defend her husband. “I have never been one for a public airing of laundry, but when you attack my husband… here we go,” Cohen Braun wrote to begin her own lengthy social media retort. Cohen Braun disputed Swift’s insinuation that she was never given an opportunity to purchase her masters. She also maintained that the pop singer was well aware of the transaction prior to today’s announcement, as Swift’s father, a shareholder of Swift’s former label Big Machine Records, was involved in the negotiations. “So no, you didn’t find out with the world,” Cohen Braun proclaimed. Elsewhere in her post, Cohen Braun suggested Swift’s initial blog was a not-so-veiled attempt to bully her husband. “It’s easy to see that the point of putting this out was to get people to bully him. You are supposed to be a role model, but continue to model bullying,” Cohen Braun wrote. “Scott (Scooter) was so excited to work and build with you. How embarrassing this temper tantrum is because you didn’t get your own way,” Cohen Braun added. “He believes in and supports you, I sincerely hope you can learn to love and believe in yourself the way my husband does.” Story continues “Lastly, if you think he can control his clients, please control your fans. Leave our personal life and kids out of this. You don’t understand yet what lines that crosses, but one day you will. And I hope you have the dignity, class and kindness to leave your fans out of this and have an open discussion. Tumblr can’t fix this, a phone call can.” You can read Cohen Braun’s full note below. In her post, she also makes mention of the 2016 phone call from Swift to Braun’s client Kanye West in which Swift gave West permission to mention her name in his song “Famous”. When Swift denied that the conversation ever took place, West’s wife, Kim Kardashian-West leaked a recording of it. In her post, Swift suggested that Braun was involved in the release of the “illegally recorded” phone call. Cohen Braun contends that not true, however, writing: “Don’t blame him because Kim caught you in a lie, it’s embarrassing I know – but adults own up to their mistakes. We learn and grow from them, we don’t divert blame and blur lines of reality to suit our needs.” Update: Big Machine Records founder Scott Borchetta and board member Erik Logan have issued similar statements confirming that Swift’s team was well aware of the transaction days before news broke. In a post titled “So, It’s Time For Some Truth…” , Borchetta wrote: “Taylor’s dad, Scott Swift, was a shareholder in Big Machine Records, LLC.  We first alerted all of the shareholders on Thursday, June 20 th for an official shareholder’s call scheduled for Tuesday, June 25 th . On the 6/25 call the shareholders were made aware of the pending deal with Ithaca Holdings and had 3 days to go over all of the details of the proposed transaction. We then had a final call on Friday, June 28th in which the transaction passed with a majority vote and 3 of the 5 shareholders voting ‘yes’ with 92% of the shareholder’s vote.” “Out of courtesy, I personally texted Taylor at 9:06pm, Saturday, June 29 th to inform her prior to the story breaking on the morning of Sunday, June 30 th so she could hear it directly from me,” Borchetta added. Borchetta also dismissed Swift’s claim that there were problems between the pop singer and Braun prior to sale: “As to her comments about ‘being in tears or close to it’ anytime my new partner Scooter Braun’s name was brought up, I certainly never experienced that.  Was I aware of some prior issues between Taylor and Justin Bieber?  Yes.  But there were also times where Taylor knew that I was close to Scooter and that Scooter was a very good source of information for upcoming album releases, tours, etc, and I’d reach out to him for information on our behalf.  Scooter was never anything but positive about Taylor.  He called me directly about Manchester to see if Taylor would participate (she declined). He called me directly to see if Taylor wanted to participate in the Parkland March (she declined).  Scooter has always been and will continue to be a supporter and honest custodian for Taylor and her music. A representative for Swift’s told PEOPLE that Scott Swift did not personally participate in the shareholders phone call “due to a very strict NDA that bound all shareholders and prohibited any discussion at all without risk of severe penalty.” The representative added, “Her dad did not join that call because he did not want to be required to withhold any information from his own daughter. Taylor found out from the news articles when she woke up before seeing any text from Scott Borchetta and he did not call her in advance.” https://www.instagram.com/p/BzWfMAWAIkE Scott’s Response //s.imgur.com/min/embed.js View post on imgur.com //s.imgur.com/min/embed.js Scooter Braun’s wife says Taylor Swift is lying: “How embarrassing this temper tantrum is because you didn’t get your own way” Alex Young
Houston TX Vinyl Plank Flooring Residential Installation Services Launched Houston Flooring Warehouse launched an updated range of vinyl plank flooring for residential and commercial clients looking for a stylish,versatile and durable flooring option, offering a wide range of models at competitive prices HOUSTON, TX / ACCESSWIRE / June 30, 2019 /Houston Flooring Warehouse, a flooring company based in Houston, Texas, announced an updated selection of vinyl plank flooring for residential and commercial clients interested in a durable and versatile flooring option. The company offers a vast selection of textures and colors, ranging from standard tone to stone and wood textures, waterproof models and many more. More details can be found athttps://houstonflooringwarehouse.com/wholesale-vinyl-plank-houston-tx. Vinyl plank is an increasingly popular flooring option for both homes and businesses, as it offers plenty of customization possibilities and can be extremely durable. If installed correctly, vinyl plank flooring can be an ideal option for bathroom, kitchens, laundry and dining rooms. Houston Flooring Warehouse offers a wide variety of high-quality vinyl plank flooring, working closely with each client to help them choose a model that best meets their needs, budgets and preferences. Clients can choose from a large selection of colors and styles, the company striving to provide both timeless classic designs and more modern options. A spokesperson for the company said, "Luxury vinyl plank flooring is considered by many to be the ideal blend of design and functionality. Existing designs have never looked better or more realistic. Luxury vinyl planks likewise usually provide a more long lasting and harder floor than other choices such as hardwood and laminate, specifically when it concerns managing scratches and water problems." As well as offering standard vinyl plank options, the company also provides luxury vinyl flooring with added safety features. Clients can choose from a wide range of waterproof models, with mold and mildew-resistant models also available. To ensure high standards of service quality and prevent issues resulting from improper installation, the company offers professional installation services for any vinyl plank flooring purchase. With the latest update, the Houston flooring company continues to expand its range of products and services according to the latest industry developments. Houston Flooring Warehouse is a flooring discount center specializing in carpet, hardwood flooring, ceramic tile, wood look tile, porcelain, laminate floors, engineered hardwood flooring, custom hand scraped solid nail down hardwood flooring,waterproof flooring, LVT, SPC, WPC, luxury vinyl plank, wood look vinyl tile,commercial carpeting, carpet squares, natural stone, marble tile, travertine and many other flooring materials at deep discount pricing in Houston, Texas. The warehouse superstore is located 2 miles West of I-45 on FM 1960, also known as Cypress Creek Parkway between Kuykendahl Rd and Ella. . Their address Houston Flooring Warehouse 2202 FM 1960 Houston, TX 77090. For more information call Houston Flooring Warehouse at (281) 408-5473 or visit their website athoustonflooringwarehouse.com Contact Info:Name: Matt StacyEmail:Send EmailOrganization: Houston Flooring WarehouseAddress: 2202 FM 1960, Houston, TX 77090, United StatesPhone: +1-281-408-5473Website:https://houstonflooringwarehouse.com/ SOURCE:Houston Flooring Warehouse View source version on accesswire.com:https://www.accesswire.com/550485/Houston-TX-Vinyl-Plank-Flooring-Residential-Installation-Services-Launched
Serious Cognitive Brain Injury Charity Launch Adventure ABI & Occupational Rehab A ground-breaking rehabilitation centre for people with Traumatic Acquired Brain Injury (ABI) is to open in the Autumn after fundraiserspassed the million-pound mark KESWICK, UK / ACCESSWIRE / June 30, 2019 /Calvert Reconnections, run by The Lake District Calvert Trust, are set to be the UK's first intensive serious acquired brain injury and occupational rehab centre that combines traditional multi-disciplinary clinical therapies with adventure physical activity outdoors. Every year in the UK, over 300,000 people suffer life-changing brain injuries. They face a long and difficult road to recovery, often with limited support. The Lake District Calvert Trust (LDCT) has challenged disability through outdoor adventure for over 40 years. For more information go tohttps://www.calvertreconnections.org.uk/serious-brain-injury-cognitive-occupational-therapy/ Working with leading clinicians and academics, the new rehab centre will provide a ground-breaking, world-class rehabilitation programme tailored to support individuals in their recovery. In recent years, LDCT has seen a growing demand for support and rehabilitation following an ABI. Long-standing views held that improvements were unlikely after six months, however recent research suggests that the brain is capable of far more improvement than previously understood. The research highlights the opportunity for a new holistic approach to rehabilitation, encompassing physical exercise, experiential learning, and support in developing a new self-concept after a life-changing injury. Working with leading clinicians and academics including Professor Mike Barnes, Heather Batey, Director of Reach and leading ABI QC Bill Braithwaite, LDCT is developing a new approach to brain injury rehabilitation. The focus is on 'learning through doing' in the outdoors, supported by a multi-disciplinary team in a purpose-built residential centre. It will marry the latest thinking in neurology with LDCT's expertise in accessible, life-changing outdoor challenges. This innovative Rehabilitation Centre will help people with ABI reach their full potential for recovery, not only improving their physical and psychological well-being but also increasing their self-confidence and independence. Fundraising began back in 2016 with the hugely popular 'Go Herdwick' sheep sculpture trail that delighted tens of thousands of locals and visitors over that Summer. The resulting charity auction kick-started the fundraising process to the tune of £225,000! Additional funding has since been secured from 17 trusts and foundations nationwide as well as individual donations from generous members of the public. To watch the BBC TV's coverage go tohttps://www.calvertreconnections.org.uk/bbc-news-covers-calvert-reconnections/ LDCT Director Sean Day commented: "We are absolutely delighted to have reached the million-pound mark so quickly. It is so important to so many individuals and families that we get this centre up and running so we can really start to make a difference in people's lives. Though the general public may not be overly familiar with the term 'ABI', most of us will know someone somewhere who has suffered a traumatic brain injury and the effects really can be life-changing, not just for that person but for their family and friends too. We're extremely grateful to all our funders to date who've helped get this project off the ground and we're looking forward to welcoming our first participants in the not too distant future." Work has already begun on transforming the Grade II listed Tithe Barn, 'Old Windebrowe' on the outskirts of the pretty market town of Keswick, into the rehabilitation centre which will house up to 15 participants at any one time. It is hoped that Calvert Reconnections will be opening its doors later this year and the enquiries are already coming in. Contact Info:Name: Sean DayEmail:Send EmailOrganization: Calvert ReconnectionsAddress: Little Crosthwaite Little Crosthwaite, Keswick, Cumbria CA12 4QD, United KingdomPhone: +44-17687-72255Website:https://www.calvertreconnections.org.uk/ SOURCE:Calvert Reconnections View source version on accesswire.com:https://www.accesswire.com/550486/Serious-Cognitive-Brain-Injury-Charity-Launch-Adventure-ABI-Occupational-Rehab
Democrats demand action on Republican who threatened police SALEM, Ore. (AP) — Just one day after Republicans ended a walkout that shut down the Legislature for over a week, the Senate was once again delayed Sunday -- this time by Democrats demanding that a Republican senator who threatened state police be barred from the floor. Voting in the Senate was pushed back more than three hours as Democrats met in closed-door meetings to press for action against Sen. Brian Boquist, who drew criticism after saying state police should "send bachelors and come heavily armed" if they try to return him to the Capitol amid a GOP walkout over climate legislation. But Democrats' efforts proved futile. Boquist was able to appear on the Senate floor Sunday morning to vote on some of the remaining policy bills before the Senate, including legislative priorities addressing affordable housing and a paid family leave program. He left the building later in the afternoon and was absent when the Legislature adjourned for the year, according to the Senate president. "This member threatened to kill an Oregon state trooper," said Democratic Sen. Shemia Fagan, from Portland. "If that's not unacceptable, then what is unacceptable?" Sen. Sara Gelser, a Democrat from Corvallis, began the charge against Boquist on Saturday, saying that she would not appear in the chamber with him present. Gelser was absent Sunday morning, but she appeared later in the afternoon after Boquist left the building. Gelser said that she was disappointed Senate leadership didn't take action on a memo from an outside law firm retained by the Legislature. The memo, released to the public Sunday, recommended that Boquist be barred from the workplace until his comments could be investigated. Several staff members reported that they were "fearful and scared to come to work," according to the memo. Only the full Senate can take action against one of its members, according to a separate memo from the state's interim human resources director. But politics trumped safety concerns, said Gelser, and leadership was more focused on pushing through the remaining policy bills before the legislative session was set to end at midnight. "There has to be a point at which we are willing to ... have a rocky floor session if that's what it takes to make things better," she said. "People deserve to be safe." Boquist, from Dallas, declined to comment Sunday. But he told The Associated Press via email Saturday night that he had not talked to Gelser. He added Gelser previously spoke to multiple news outlets publicly asking Republicans "to come back" during their walkout. Story continues Republicans, who make up the minority in the Legislature, fled the Capitol June 20 and remained away for nine days to protest legislation aimed at lowering the state's greenhouse gas emissions. Democrats have an 18 to 12 majority in the Senate but need at least 20 members — and therefore at least two Republicans — present to vote on legislation. Gov. Kate Brown deployed the Oregon State Police to track down the missing Republicans and hit them with a $500 fine for every day they missed. Republicans returned to work Saturday after Democrats promised to table the climate proposal. A formal complaint had been filed against Boquist, which will be heard at a special committee meeting in July, according to Fagan. Boquist said via email Saturday that he was unaware of the formal complaint until seeing news reports of the situation. Senate Minority Leader Herman Baertschiger refused to characterize Boquist's comments as inappropriate at a news conference earlier this week, saying his words were simply "unhelpful." Gelser said the situation shows that the Legislature had learned little from a sexual harassment that embroiled the Capitol last year. Republican Sen. Jeff Kruse resigned from the Legislature last year after Gelser and two interns accused the lawmaker of inappropriate touching. The state agreed to a $1 million settlement after an outside report found legislative leadership did little to curb workplace harassment in the statehouse. Lawmakers also worked for six months to craft a legislative package meant to overhaul the way the Capitol handles reports of harassment, and that plan was sent to the governor over the weekend. "Despite all that, I'm told today we do not have the tools to keep people safe if somebody makes credible threats of violence," Gelser said. "And that's just unacceptable." View comments
D'Angelo Russell joining Warriors in sign-and-trade deal: Report After a star turn with the Brooklyn Nets in his fourth NBA season, D’Angelo Russell will reportedly have a contract to match in one of the most stunning moves of a wild opening day of NBA free agency. The Warriors have reportedly agreed to a sign-and-trade deal to bring Russell to Golden State on a four-year, $117 million deal, ESPN’s Adrian Wojnarowski reports . Wojnarowski reports that the Warriors are trading forward Andre Iguodala and a draft pick to the Memphis Grizzlies in an effort to create salary cap space. Golden State is trading Andre Iguodala to the Memphis Grizzlies, league source tells ESPN. Warriors are sending a 2024 protected first-round pick in the 2024 (protected 1-4), 2025 (protected 1) and 2026 unprotected. — Adrian Wojnarowski (@wojespn) July 1, 2019 The Warriors received Shabazz Napier and Treveon Graham in the deal and sent both players along with cash to the Minnesota Timberwolves on Monday, according to ESPN. A restricted free agent, Russell became expendable when the Nets reportedly agreed to a deal with Kyrie Irving . How will Russell fit with Steph, Klay? How Russell fits with the Warriors long-term is yet to be seen. Golden State already employs two of the best scoring guards in NBA history in Stephen Curry and Klay Thompson. Russell’s specialty is scoring. Thompson will miss a significant portion of next season with the ACL tear he suffered in Game 6 of the NBA Finals, but he is certainly a part of Golden State’s long-term future after reportedly agreeing to a 5-year, $190 million deal . In the near-term, Russell will provide the ultimate luxury of spelling Thompson while he recovers from his injury. Golden State has revolutionized how basketball is played once already and appears intent on doing it again in the long run. D'Angelo Russell is reportedly joining the Golden State Warriors. (Reuters) Russell’s star turn Russell broke out last season for his first All-Star bid while leading the Nets to their first playoff berth since 2015. After a tumultuous start to his career in Los Angeles, Russell hit his stride just in time to get the big deal. Story continues The Lakers drafted Russell with the No. 2 pick out of Ohio State in 2015 as the presumed point guard of the future. But when he got involved in tabloid drama with a teammate and Lonzo Ball became available in the 2017 draft, his fate in Los Angeles was sealed. Climb from rough NBA start Prior to his breakout season, Russell was probably best known for allegedly recording Lakers teammate Nick Young in 2016 as he talked about women who weren’t his then-fiancée Iggy Azalea. The recording made its way online, and the Lakers were reportedly displeased with Russell, who reportedly became an outcast in the locker room for the alleged breach of trust. Los Angeles eventually traded Russell prior to the 2017 draft that saw them select Ball. Russell’s big jump Russell averaged 15.5 points and 5.2 assists in his first season in Brooklyn, similar to the numbers he put up in two seasons with the Lakers. But this past season saw his averages jump to 21.1 points and seven assists to go with 1.2 steals per game while he shot a career-high 36.9 percent from 3-point distance. Russell, 23, still raises maturity questions. In May, he was cited for marijuana possession after TSA agents at New York’s LaGuardia Airport say they found less than 50 grams hidden in a secret compartment of a fake Arizona Iced Tea can while Russell was going through a security check. But he’s not gotten into any serious trouble, and his play has certainly earned him the reward of a big contract. More from Yahoo Sports: World Cup: England’s coach praises Rapinoe's character Mets put living players in ‘In Memoriam’ montage Gronk's physical appearance sends a clear message about retirement Here are the full rosters for the 2019 MLB All-Star Game
How Many Dexus (ASX:DXS) Shares Do Institutions Own? Want to participate in ashort research study? Help shape the future of investing tools and you could win a $250 gift card! A look at the shareholders of Dexus (ASX:DXS) can tell us which group is most powerful. Generally speaking, as a company grows, institutions will increase their ownership. Conversely, insiders often decrease their ownership over time. Companies that used to be publicly owned tend to have lower insider ownership. Dexus is a pretty big company. It has a market capitalization of AU$14b. Normally institutions would own a significant portion of a company this size. In the chart below below, we can see that institutions own shares in the company. We can zoom in on the different ownership groups, to learn more about DXS. See our latest analysis for Dexus Institutions typically measure themselves against a benchmark when reporting to their own investors, so they often become more enthusiastic about a stock once it's included in a major index. We would expect most companies to have some institutions on the register, especially if they are growing. Dexus already has institutions on the share registry. Indeed, they own 48% of the company. This suggests some credibility amongst professional investors. But we can't rely on that fact alone, since institutions make bad investments sometimes, just like everyone does. It is not uncommon to see a big share price drop if two large institutional investors try to sell out of a stock at the same time. So it is worth checking the past earnings trajectory of Dexus, (below). Of course, keep in mind that there are other factors to consider, too. Dexus is not owned by hedge funds. There are plenty of analysts covering the stock, so it might be worth seeing what they are forecasting, too. The definition of an insider can differ slightly between different countries, but members of the board of directors always count. Management ultimately answers to the board. However, it is not uncommon for managers to be executive board members, especially if they are a founder or the CEO. Most consider insider ownership a positive because it can indicate the board is well aligned with other shareholders. However, on some occasions too much power is concentrated within this group. Our most recent data indicates that insiders own less than 1% of Dexus. As it is a large company, we'd only expect insiders to own a small percentage of it. But it's worth noting that they own AU$8.6m worth of shares. It is always good to see at least some insider ownership, but it might be worth checkingif those insiders have been selling. The general public, who are mostly retail investors, collectively hold 52% of Dexus shares. This level of ownership gives retail investors the power to sway key policy decisions such as board composition, executive compensation, and the dividend payout ratio. I find it very interesting to look at who exactly owns a company. But to truly gain insight, we need to consider other information, too. I always like to check for ahistory of revenue growth. You can too, by accessing this free chart ofhistoric revenue and earnings in thisdetailed graph. If you would prefer discover what analysts are predicting in terms of future growth, do not miss thisfreereport on analyst forecasts. NB: Figures in this article are calculated using data from the last twelve months, which refer to the 12-month period ending on the last date of the month the financial statement is dated. This may not be consistent with full year annual report figures. 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 Gold Road Resources (ASX:GOR) Share Price Is Up 254% And Shareholders Are Boasting About It Want to participate in ashort research study? Help shape the future of investing tools and you could win a $250 gift card! The worst result, after buying shares in a company (assuming no leverage), would be if you lose all the money you put in. But on a lighter note, a good company can see its share price rise well over 100%. For example, theGold Road Resources Limited(ASX:GOR) share price has soared 254% in the last half decade. Most would be very happy with that. Unfortunately, though, the stock has dropped 5.7% over a week. But note that the broader market is down 0.4% since last week, and this may have impacted Gold Road Resources's share price. View our latest analysis for Gold Road Resources Gold Road Resources recorded just AU$204,000 in revenue over the last twelve months, which isn't really enough for us to consider it to have a proven product. So it seems shareholders are too busy dreaming about the progress to come than dwelling on the current (lack of) revenue. It seems likely some shareholders believe that Gold Road Resources will find or develop a valuable new mine before too long. We think companies that have neither significant revenues nor profits are pretty high risk. There is usually a significant chance that they will need more money for business development, putting them at the mercy of capital markets. So the share price itself impacts the value of the shares (as it determines the cost of capital). While some such companies go on to make revenue, profits, and generate value, others get hyped up by hopeful naifs before eventually going bankrupt. Some Gold Road Resources investors have already had a taste of the sweet taste stocks like this can leave in the mouth, as they gain popularity and attract speculative capital. Gold Road Resources had liabilities exceeding cash by AU$112,238,000 when it last reported in December 2018, according to our data. That puts it in the highest risk category, according to our analysis. So the fact that the stock is up 29% per year, over 5 years shows that high risks can lead to high rewards, sometimes. Investors must really like its potential. The image below shows how Gold Road Resources's balance sheet has changed over time; if you want to see the precise values, simply click on the image. The image below shows how Gold Road Resources's balance sheet has changed over time; if you want to see the precise values, simply click on the image. In reality it's hard to have much certainty when valuing a business that has neither revenue or profit. Given that situation, many of the best investors like to check if insiders have been buying shares. If they are buying a significant amount of shares, that's certainly a good thing. You canclick here to see if there are insiders buying. Investors should note that there's a difference between Gold Road Resources's total shareholder return (TSR) and its share price change, which we've covered above. The TSR is a return calculation that accounts for the value of cash dividends (assuming that any dividend received was reinvested) and the calculated value of any discounted capital raisings and spin-offs. We note that Gold Road Resources's TSR, at 258% is higher than its share price return of 254%. When you consider it hasn't been paying a dividend, this data suggests shareholders have benefitted from a spin-off, or had the opportunity to acquire attractively priced shares in a discounted capital raising. We're pleased to report that Gold Road Resources shareholders have received a total shareholder return of 34% over one year. That's better than the annualised return of 29% over half a decade, implying that the company is doing better recently. In the best case scenario, this may hint at some real business momentum, implying that now could be a great time to delve deeper. Most investors take the time to check the data on insider transactions. You canclick here to see if insiders have been buying or selling. 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 AU 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.
Factories faltered in June, trade truce fails to brighten outlook By Jonathan Cable and Leika Kihara LONDON/TOKYO (Reuters) - Factory activity shrank across much of Europe and Asia in June while growth in manufacturing cooled in the United States, keeping the world's policymakers under pressure to avert a recession amid a U.S.-China trade war. A series of mainly downbeat business surveys and official indicators released on Monday followed Saturday's warning by Group of 20 leaders who met in Osaka, Japan, of slowing global growth and intensifying geopolitical and trade tensions. The data was collected before the weekend summit. The United States and China agreed at the summit to restart trade talks after U.S. President Donald Trump offered concessions including no new tariffs and an easing of restrictions on tech company Huawei, providing some relief to businesses and financial markets. But analysts doubt the truce will lead to a sustained easing of tensions while lingering uncertainty could dampen corporate spending appetite and global growth. "It's too early to turn optimistic. The two countries just kicked the can down the road and there's no knowing what could happen next," said Yoshiki Shinke, chief economist at Dai-ichi Life Research Institute in Tokyo. "Global manufacturing activity hasn't hit bottom yet. U.S. business confidence, particularly that of manufacturers, has been weakening and if this continues, it may hurt economies across the world." Factory activity in the euro zone shrank faster last month than previously thought, in a broad-based downturn, according to IHS Markit's Manufacturing Purchasing Managers' Index (PMI), which also suggested there would be no quick turnaround. Germany's export-dependent manufacturing sector contracted in June for the sixth time in a row, Italian activity declined for a ninth month and Spain's contracted at its fastest rate in more than six years. Growth in U.S. manufacturing activity slowed to its lowest level in more than a 2-1/2 years in June, with a measure of new orders received by factories tumbling, according to the Institute for Supply Management (ISM). "The global manufacturing sector has continued to deteriorate, which will weigh on export orders," said Thomas Pugh at Capital Economics. In China, Asia's economic engine, the Caixin/IHS Markit PMI came in at 49.4, falling short of market expectations and the worst reading since January. It was the first time in four months the keenly watched index has fallen below the neutral 50-mark dividing expansion from contraction on a monthly basis. Japan also saw manufacturing activity contract in June to hit a three-month low, offering fresh evidence of an economy under the pump as global demand weakens. Separately, a Bank of Japan (BOJ) survey showed big manufacturers' confidence hit a near three-year low, keeping its central bank under pressure to maintain or even ramp up a massive stimulus program. In South Korea, factory activity shrank at the fastest pace in four months in June as the global trade slowdown deepened, prompting companies to cut production. Activity fell in Malaysia and Taiwan, a sign the U.S.-China trade conflict's impact on the rest of Asia was broadening. In India and Indonesia, where factories are less dependent on external demand for business, activity continued to grow albeit at a slower pace. Vietnam's factory activity expanded at faster rate although new orders rose at their slowest since February. The Southeast Asian economy has been a rare beneficiary of the trade war as manufacturers shift their Chinese operations there to sidestep U.S. tariffs. DWINDLING POLICY AMMUNITION The U.S-China trade war has hurt business sentiment, threatened to disrupt supply chains and jolted financial markets, drawing warnings by policymakers over the widening fallout on the global economy. International Monetary Fund Managing Director Christine Lagarde welcomed the resumption of trade talks between the two countries, but warned more needs to be done to resuscitate a global economy that had already hit a "rough patch." Heightening worries over global growth have forced some central banks, such as those in Australia, New Zealand, India and Russia to cut interest rates. While G20 leaders said they stand ready to take further action to prop up growth, many major economies have little fiscal and monetary space to battle another recession. Expectations of a U.S. Federal Reserve interest rate cut have put pressure on the European Central Bank and the BOJ to follow suit, despite their dwindling options to arrest stalling growth. "If the Fed cuts rates, the BOJ and the ECB must do something more powerful to contain currency appreciation," said Sayuri Shirai, a former BOJ policymaker who is currently a professor at Japan's Keio University. (Additional reporting by Kaori Kaneko, Lucia Mutikani and Jason Lange; Editing by Sam Holmes, Catherine Evans and Jonathan Oatis)
Boasting A 19% Return On Equity, Is Kri-Kri Milk Industry S.A. (ATH:KRI) A Top Quality Stock? Want to participate in ashort research study? Help shape the future of investing tools and you could win a $250 gift card! One of the best investments we can make is in our own knowledge and skill set. With that in mind, this article will work through how we can use Return On Equity (ROE) to better understand a business. By way of learning-by-doing, we'll look at ROE to gain a better understanding of Kri-Kri Milk Industry S.A. (ATH:KRI). Over the last twelve monthsKri-Kri Milk Industry has recorded a ROE of 19%. Another way to think of that is that for every €1 worth of equity in the company, it was able to earn €0.19. View our latest analysis for Kri-Kri Milk Industry Theformula for ROEis: Return on Equity = Net Profit ÷ Shareholders' Equity Or for Kri-Kri Milk Industry: 19% = €11m ÷ €58m (Based on the trailing twelve months to March 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 all the money paid into the company from shareholders, plus any earnings retained. Shareholders' equity can be calculated by subtracting the total liabilities of the company from the total assets of the company. Return on Equity measures a company's profitability against the profit it has kept for the business (plus any capital injections). The 'return' is the profit over the last twelve months. The higher the ROE, the more profit the company is making. So, all else equal,investors should like a high ROE. 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. The limitation of this approach is that some companies are quite different from others, even within the same industry classification. As you can see in the graphic below, Kri-Kri Milk Industry has a higher ROE than the average (10%) in the Food industry. That's what I like to see. We think a high ROE, alone, is usually enough to justify further research into a company. For example,I often check if insiders have been buying shares. Virtually all companies need money to invest in the business, to grow profits. That cash can come from retained earnings, issuing new shares (equity), or debt. In the first two cases, the ROE will capture this use of capital to grow. In the latter case, the use of debt will improve the returns, but will not change the equity. That will make the ROE look better than if no debt was used. Although Kri-Kri Milk Industry does use debt, its debt to equity ratio of 0.16 is still low. The fact that it achieved a fairly good ROE with only modest debt suggests the business might be worth putting on your watchlist. Conservative use of debt to boost returns is usually a good move for shareholders, though it does leave the company more exposed to interest rate rises. Return on equity is one way we can compare the business quality of different companies. 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. The rate at which profits are likely to grow, relative to the expectations of profit growth reflected in the current price, must be considered, too. So you might want to take a peek at thisdata-rich interactive graph of forecasts for the company. Of courseKri-Kri Milk Industry 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.
From shrimp to fake eyelashes, social media sales soar in Facebook-friendly Thailand By Chayut Setboonsarng SATUN, Thailand (Reuters) - The son of a Thai fisherman, Anurak Saruethai never really took to life at sea. But seafood has been good to him. Hawking dried shrimp, squid and fish in nightly Facebook livestreams, Anurak, who is quick with a joke and adept at interacting with customers, can draw up to 300,000 viewers at a time. He's backed by a team who help respond to orders, answer questions on Facebook Messenger, monitor payments to his bank account and shout out tag lines off camera for comedic effect. The formula works so well, Anurak says he made 26 million baht ($829,000) in sales in March alone. "Facebook and Instagram give people an opportunity. If you do it right with good content, in just seven months you can make millions," he told Reuters from the seaside village of Satun. His success is emblematic of booming social media commerce in Thailand where entrepreneurs sell products directly to customers via Facebook, Instagram and messaging apps like Japan's Line Corp. Propelled by upgrades to mobile banking apps, sales via social media in Thailand more than doubled to 334.2 billion baht ($10.9 billion) in 2017, according to the latest report from the country's Electronic Transaction Development Agency. Moreover, those sales accounted for 44% of e-commerce in Southeast Asia's second-biggest economy, jumping from 21% a year earlier. Since then, banks have dropped transfer fees, likely driving the market further. The popularity of so-called social commerce in Thailand owes much to the relatively late arrival of big e-commerce firms, cultural shopping preferences and the wide use of Facebook and Instagram. Some 38 million people or 57% of the population access Facebook every day, according to the U.S. firm. Its growth also highlights the global business opportunities for Facebook and its Instagram unit. "Social commerce is a market to monitor because Facebook has moved more sharply in a commerce direction recently with the launch of many commerce friendly features," said Alessandro Psicini, co-founder of Crea which advises brands that want to boost their social media sales in Thailand. Facebook said this month it wanted to expand into payments and launch its own coin. Instagram in March introduced a checkout button which allows users to shop without leaving the app, though that function is currently limited to a small number of brands and U.S. consumers. Facebook and Instagram declined to comment on how they plan to make the most of social commerce opportunities. CUSTOMERS FIRST Within Asia, only Indonesia rivals Thailand in social commerce. There it accounts for about 40% of e-commerce but is worth a smaller $3 billion, says consulting firm McKinsey & Company. The market is less developed as many Indonesians do not have bank accounts and due to the challenges of delivering goods across the country's archipelago. In other parts of Asia, shopping on big e-commerce platforms like China's Alibaba, Amazon.com's Japan unit or Walmart's Indian unit Flipkart is the norm, although selling via social media is on the rise in some countries. Livestreaming by merchants has gained in popularity in China while in India, social commerce companies have emerged over the past year. Satish Meena, senior analyst at Forrester Research, says the firm's preliminary estimates put India's annual social selling revenue at $100-$150 million. Completing a sale via social media can be cumbersome. In Thailand, customers find products on Facebook or Instagram, while chats and payments usually take place on different apps. But for many Thais, the appeal of social media shopping is the direct communication with merchants. Chonticha Srisawang, 35, who has her own brand of fake eyelashes and over 76,000 followers on her Instagram, prang_bohktoh, says customers became comfortable placing orders after she took the time to answer queries on chat app Line. "The Thai market is very customer-centric," said Vilaiporn Taweelappontong, partner at PwC Thailand, adding that Thai shoppers love to browse and share, which favours social media over big online shopping malls. "Merchants do everything to ensure customers have a good experience. In the U.S and Europe there is more standardisation and there are fewer choices because the emphasis is on the back-end and things moving faster." The two biggest online malls in Thailand are now seeeking to win over social media merchants - who industry experts estimate number more than a hundred thousand. Both added livestreaming services last year. Alibaba's Lazada, which launched in Thailand in 2012, also started an invitation-only programme in August to bring social media sellers with a broad customer base onto its site. Around 300 merchants have since joined. Sea Ltd in March raised $1.5 billion, part of which will go towards educating merchants on how to best use its Shopee platform, which debuted in Thailand in 2015. Some merchants, however, are not convinced. Patchararak Thanasintrakul, who sells swimwear on Instagram account Swimsaic, is hesitant due to concerns about copycats and potential pressure to discount. "We've been thinking about it. Lazada approached us, but we worry about brand image. Lazada likes to support discounts, but our brand has never done discounts," she said. A Lazada spokeswoman said the company does not compel its merchants to discount. ($1 = 30.7800 baht) (Reporting by Chayut Setboonsarng; Additional reporting by Sankalp Phartiyal in Mumbai, Brenda Goh in Shanghai and Cindy Silviana in Jakarta; Editing by Kay Johnson and Edwina Gibbs)
2019 CONCACAF Gold Cup: Curacao, Caribbean getting way more out of this than USMNT, Mexico It turns out that the national team from an island of just 171 square miles and 160,000 people, give or take, would be a tough test for the United States men’s national team. Curacao isn’t actually even a national team at all, since it remains a Dutch territory, autonomous but not independent, left to field players of Curacaoan descent with no hope of representing the Netherlands. But it troubled the Americans regardless, looking improbably comfortable for a team ranked 79th in the world by FIFA, and 127th by ELO, before losing this quarterfinal 1-0 in spite of constructing several good scoring chances. But then this has been a good CONCACAF Gold Cup for Curacao, going on its deepest run since the 1960s. It has been just two years since Curacao qualified for this tournament for the first time in the modern era, and it came within a few good Zack Steffen saves of threatening to advance to the semifinals. Likewise, this has been a great Gold Cup for the Caribbean region as a whole, making a mark in a confederation shared with the far more imposing North and Central American teams. Little Martinique fought Mexico in a narrow 3-2 loss. Haiti won Group B over Costa Rica, while Bermuda managed to beat Nicaragua. Jamaica and Curacao advanced over El Salvador and Honduras in Group C. Those are all noteworthy results. But then, in a lot of ways, this Gold Cup is for the Caribbean teams. As far as the big countries are concerned – the U.S. and Mexico and, most years, Costa Rica – the biennial event serves only two purposes. To fill CONCACAF’s coffers. And to offer meaningful competition to the smaller nations in the confederation, in hopes that it will help them and, by extension, all of CONCACAF, to improve. Why else wouldn’t it be held every four years instead, with the international calendar already crammed and no real appetite for these tournaments from the favorites? The experience Curacao gained against Christian Pulisic (10) and the United States is one of the reasons CONCACAF is keeping the Gold Cup around. (Getty) Even a rebuilding, diluted and very young USA had been cruising in this tournament up until Sunday, strolling past Guyana 4-0 , crushing Trinidad and Tobago 6-0 and beating Panama 1-0 in spite of cycling out all 11 regulars for the final group stage game, with a place in the quarterfinals already assured. The same was true for Mexico, which battered Cuba and Canada before its eventful affair with Martinique. It wasn’t until its own quarterfinal that El Tri was really challenged, with the Costa Ricans took them to penalty kicks. And Mexico, under new manager Tata Martino, is very much refreshing its team and missing several stars. Like the USA, it’s hardly as strong as it could be. Story continues The unvarnished truth is that both teams would sooner be playing in some different tournament, rather than face the same regional foes again and again. The Copa America, for instance, like in the one-off 2016 edition of that tournament held stateside. But since the tournaments coincided this year, neither Mexico nor the USA could take up one of the guest spots in South America’s prestigious dance for continental hegemony. At the very least, winning the Gold Cup used to bestow upon the holder the prospect of a place at the Confederations Cup, a quadrennial tune-up to the World Cup. It doesn’t anymore, on account of the Confed Cup no longer existing. It used to be that every other edition of the Gold Cup, the one that didn’t coincide with World Cup qualifying – ie. this one – would see Mexico and the USA fight out their fevered rivalry for regional supremacy. It made it a tournament that felt important. But neither team seems excessively bothered this time around. That’s a function of where both programs are at the moment, in times of transition, but also of a tournament that seems to have lost its luster. El Tri and the Yanks have long since figured out that the route to the global elite does not travel through endless competitions with Caribbean teams. They need to get out of the CONCACAF bubble as much as they can in order to transcend CONCACAF. All the same, they have each reached the semifinals. Where each of them will face a Caribbean team – Mexico plays Haiti on Tuesday while the USA goes up against Jamaica on Wednesday. The two semi-interested regional powers against a pair of rising Caribbean powers. Fitting, really. Leander Schaerlaeckens is a Yahoo Sports soccer columnist and a sports communication lecturer at Marist College. Follow him on Twitter @LeanderAlphabet. More from Yahoo Sports: World Cup: England’s coach praises Rapinoe's character Mets put living players in ‘In Memoriam’ montage Gronk's physical appearance sends a clear message about retirement Here are the full rosters for the 2019 MLB All-Star Game
Should You Be Concerned About Etteplan Oyj's (HEL:ETTE) Historical Volatility? Want to participate in ashort research study? Help shape the future of investing tools and you could win a $250 gift card! If you're interested in Etteplan Oyj (HEL:ETTE), then you might want to consider its beta (a measure of share price volatility) in order to understand how the stock could impact your portfolio. Modern finance theory considers volatility to be a measure of risk, and there are two main types of price volatility. The first category is company specific volatility. This can be dealt with by limiting your exposure to any particular stock. The second type is the broader market volatility, which you cannot diversify away, since it arises from macroeconomic factors which directly affects all the stocks on the market. Some stocks mimic the volatility of the market quite closely, while others demonstrate muted, exagerrated or uncorrelated price movements. Beta is a widely used metric to measure a stock's exposure to market risk (volatility). Before we go on, it's worth noting that Warren Buffett pointed out in his 2014 letter to shareholders that 'volatility is far from synonymous with risk.' Having said that, beta can still be rather useful. The first thing to understand about beta is that the beta of the overall market is one. A stock with a beta below one is either less volatile than the market, or more volatile but not corellated with the overall market. In comparison a stock with a beta of over one tends to be move in a similar direction to the market in the long term, but with greater changes in price. See our latest analysis for Etteplan Oyj Etteplan Oyj has a five-year beta of 0.92. This is reasonably close to the market beta of 1, so the stock has in the past displayed similar levels of volatility to the overall market. If the future looks like the past, we could therefore consider it likely that the stock price will experience share price volatility that is roughly similar to the overall market. Many would argue that beta is useful in position sizing, but fundamental metrics such as revenue and earnings are more important overall. You can see Etteplan Oyj's revenue and earnings in the image below. Etteplan Oyj is a rather small company. It has a market capitalisation of €226m, which means it is probably under the radar of most investors. Companies this small are usually more volatile than the market, whether or not that volatility is correlated. Therefore, it's a bit surprising to see that this stock has a beta value so close to the overall market. Etteplan Oyj has a beta value quite close to that of the overall market. That doesn't tell us much on its own, so it is probably worth considering whether the company is growing, if you're looking for stocks that will go up more than the overall market. This article aims to educate investors about beta values, but it's well worth looking at important company-specific fundamentals such as Etteplan Oyj’s financial health and performance track record. I urge you to continue your research by taking a look at the following: 1. Future Outlook: What are well-informed industry analysts predicting for ETTE’s future growth? Take a look at ourfree research report of analyst consensusfor ETTE’s outlook. 2. Past Track Record: Has ETTE been consistently performing well irrespective of the ups and downs in the market? Go into more detail in the past performance analysis and take a look atthe free visual representations of ETTE's historicalsfor more clarity. 3. Other Interesting Stocks: It's worth checking to see how ETTE measures up against other companies on valuation. You could start with thisfree list of prospective options. 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.
Kamala Harris Doubles Down On Calls To Desegregate Schools Sen. Kamala Harris (D-Calif.) is standing by her support for busing as an effective tool the federal government should use to help desegregate schools. The 2020 presidential candidate doubled down on her busing comments Sunday in San Francisco after participating in the city’s Pride Parade, according to Bloomberg. “I support busing,” she told reporters outside city hall. “Listen, the schools of America are as segregated, if not more segregated today than when I was in elementary school. And we need to put every effort, including busing, into play to desegregate the schools.” . @KamalaHarris : “I support busing. Listen, the schools of America are as segregated, if not more segregated, today than when I was in [school]...need to put every effort, including busing, into play to de-segregate the schools...fed govt has a role & a responsibility to step up." pic.twitter.com/a7ujueP0Bu — Vaughn Hillyard (@VaughnHillyard) June 30, 2019 The former California attorney general’s comments came just days after she dominated the second night of the first 2020 presidential debate in Miami, largely due to her friction with former Vice President Joe Biden on the topics of busing and desegregation. Busing is considered a controversial means of racially integrating public schools by transporting children to schools farther away than the ones in their own neighborhood. Harris, the second black woman ever to be elected to the U.S. Senate, said she was a beneficiary of busing as part of the second class to integrate public schools in her area. There was a little girl in California who was bussed to school. That little girl was me. #DemDebate pic.twitter.com/XKm2xP1MDH — Kamala Harris (@KamalaHarris) June 28, 2019 On Thursday night, Harris recounted the racial discrimination she experienced growing up, then told Biden she found it personally hurtful that he boasted about working with notoriously segregationist senators to oppose issues like busing. Story continues Biden initially supported busing during his 1972 Senate campaign, but once in office, he opposed it and called it “an asinine concept.” The Delaware Democrat refused to apologize on Thursday for his stance on the issue but clarified he only opposed federal efforts to force the method, arguably making his situation worse. Since clashing with Biden on Thursday, the California senator has received a number of online attacks questioning her race, a conspiracy campaign similar to the “birtherism” attacks former President Barack Obama faced when running for office. Harris is of Indian and Jamaican heritage, and she was the first generation of her family to be born in the United States. On Sunday, Harris told reporters that people must “speak the truth about the history of our country” even if it’s uncomfortable, according to Bloomberg. She added that busing is “one small piece” of the broader effort to desegregate schools, and stressed that the federal government plays a vital role in integrating schools. “The federal government has historically and always had a role to play in ensuring equality in America,” she said. “And where states fail to do their duty to ensure equality of all people and in particular, where states create or pass legislation that created inequality, there’s no question that the federal government has a role and a responsibility to step up.” Love HuffPost? Become a founding member of HuffPost Plus today. This article originally appeared on HuffPost .
Should Elecster Oyj's (HEL:ELEAV) Recent Earnings Worry You? Want to participate in ashort research study? Help shape the future of investing tools and you could win a $250 gift card! Examining Elecster Oyj's (HEL:ELEAV) past track record of performance is a useful exercise for investors. It allows us to reflect on whether the company has met or exceed expectations, which is a powerful signal for future performance. Below, I will assess ELEAV's latest performance announced on 31 March 2019 and weight these figures against its longer term trend and industry movements. Check out our latest analysis for Elecster Oyj ELEAV's trailing twelve-month earnings (from 31 March 2019) of €2.2m has increased by 0.1% compared to the previous year. Furthermore, this one-year growth rate has exceeded its 5-year annual growth average of -1.3%, indicating the rate at which ELEAV is growing has accelerated. What's the driver of this growth? Let's take a look at if it is merely because of industry tailwinds, or if Elecster Oyj has experienced some company-specific growth. In terms of returns from investment, Elecster Oyj has fallen short of achieving a 20% return on equity (ROE), recording 8.4% instead. Furthermore, its return on assets (ROA) of 5.6% is below the FI Machinery industry of 6.1%, indicating Elecster Oyj's are utilized less efficiently. And finally, its return on capital (ROC), which also accounts for Elecster Oyj’s debt level, has declined over the past 3 years from 13% to 8.9%. This correlates with an increase in debt holding, with debt-to-equity ratio rising from 38% to 70% over the past 5 years. Elecster Oyj's track record can be a valuable insight into its earnings performance, but it certainly doesn't tell the whole story. Recent positive growth doesn’t necessarily mean it’s onwards and upwards for the company. I suggest you continue to research Elecster Oyj to get a better picture of the stock by looking at: 1. Future Outlook: What are well-informed industry analysts predicting for ELEAV’s future growth? Take a look at ourfree research report of analyst consensusfor ELEAV’s outlook. 2. Financial Health: Are ELEAV’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 March 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.
Taylor Swift pens scathing post about Scooter Braun LOS ANGELES (AP) — Taylor Swift is not staying silent over the sale of her masters to Scooter Braun. In a scathing Tumblr post Sunday, the pop superstar writes she is sad and grossed out that her music catalog now belongs to Braun, whom she accuses of subjecting her to years of incessant and manipulative bullying, referencing clashes with Kim Kardashian and Kanye West. "This is my worst case scenario," Swift writes. Braun's Ithaca Holdings announced Sunday that it is acquiring Big Machine Label Group, which released all of Swift's studio albums and owns her masters. Swift says she learned of the sale Sunday. Swift left Big Machine and signed with Universal Music Group in November because she says she knew that re-signing with the group that had managed her since she was 15 would only result in her not owning her future work. "When I left my masters in (Big Machine Label Group founder Scott Borchetta's) hands, I made peace with the fact that eventually he would sell them," she writes. "Never in my worst nightmares did I imagine the buyer would be Scooter." Braun, she alleges, got two clients, including Justin Bieber, to bully her online about a leaked and illegally recorded snippet of a phone call she had with Kardashian. She also references when West, a Braun client, organized a "revenge porn music video which strips my body naked." She writes that now Braun has "stripped her" of her life's work that she "wasn't given an opportunity to buy." "My musical legacy is about to lie in the hands of someone who tried to dismantle it," she writes. In a statement posted Sunday night on the Big Machine Label Group's website, Borchetta said he told Swift's father, Scott, and other shareholders on June 25 of the upcoming deal with Ithaca Holdings. Borchetta said he texted Taylor Swift about the deal on Saturday "to inform her prior to the story breaking on the morning of Sunday, June 30th so she could hear it directly from me." Story continues "I guess it might somehow be possible that her dad Scott, 13 Management lawyer Jay Schaudies (who represented Scott Swift on the shareholder calls) or 13 Management executive and Big Machine LLC shareholder Frank Bell (who was on the shareholder calls) didn't say anything to Taylor over the prior 5 days. I guess it's possible that she might not have seen my text. But, I truly doubt that she 'woke up to the news when everyone else did,' " Borchetta said. Representatives for Braun did not immediately respond to request for comment. Bieber responded in an Instagram post late Sunday apologizing for hurting her at the time, and also defending Braun who he says, "didn't have anything to do with it" and has her back. "For you to take it to social media and get people to hate on (S)cooter isn't fair," Bieber wrote. Braun's wife, Yael Cohen, also chimed in on Instagram refuting Swift's claim that she found out the news with the rest of the world. "Your dad is a shareholder and was notified and Borchetta personally told you before this came out," Cohen alleges. "My husband is anything but a Bully." A representative for Swift did not immediately respond to request for comment to Cohen's post. Swift ended her post looking to the future and says she thankfully "signed to a label that believes I should own anything I create." She also advocates for artist ownership of songs and hopes that the next generation will "read this and learn about how to better protect themselves in a negotiation." "I will always be proud of my past work," she added, making sure to also plug her new album, "Lover" which will be released on Aug. 23.
Should You Be Concerned About Elecster Oyj's (HEL:ELEAV) Earnings Growth? Want to participate in ashort research study? Help shape the future of investing tools and you could win a $250 gift card! Measuring Elecster Oyj's (HEL:ELEAV) track record of past performance is an insightful exercise for investors. It enables us to reflect on whether the company has met or exceed expectations, which is a powerful signal for future performance. Below, I will assess ELEAV's recent performance announced on 31 March 2019 and compare these figures to its historical trend and industry movements. See our latest analysis for Elecster Oyj ELEAV's trailing twelve-month earnings (from 31 March 2019) of €2.2m has increased by 0.1% compared to the previous year. Furthermore, this one-year growth rate has exceeded its 5-year annual growth average of -1.3%, indicating the rate at which ELEAV is growing has accelerated. What's enabled this growth? Let's see whether it is solely owing to an industry uplift, or if Elecster Oyj has experienced some company-specific growth. In terms of returns from investment, Elecster Oyj has fallen short of achieving a 20% return on equity (ROE), recording 8.4% instead. Furthermore, its return on assets (ROA) of 5.6% is below the FI Machinery industry of 6.1%, indicating Elecster Oyj's are utilized less efficiently. And finally, its return on capital (ROC), which also accounts for Elecster Oyj’s debt level, has declined over the past 3 years from 13% to 8.9%. This correlates with an increase in debt holding, with debt-to-equity ratio rising from 38% to 70% over the past 5 years. Though Elecster Oyj's past data is helpful, it is only one aspect of my investment thesis. Recent positive growth doesn’t necessarily mean it’s onwards and upwards for the company. You should continue to research Elecster Oyj to get a more holistic view of the stock by looking at: 1. Future Outlook: What are well-informed industry analysts predicting for ELEAV’s future growth? Take a look at ourfree research report of analyst consensusfor ELEAV’s outlook. 2. Financial Health: Are ELEAV’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 March 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.
Weekly CEO Buys Highlight Details the CEO buys this past week for the following companies: Odonate Therapeutics, Carnival PLC, TG Therapeutics, Liberty Latin America and Biohaven
'Big Little Lies' Just Dropped Another Hint That [SPOILER] Might Die Soon Click here to read the full article. [ Warning: This article contains spoiler-y info about season two, episode four of Big Little Lies . ] Welp, it’s looking more and more like our fears about a major (and favorite!) character on Big Little Lies might come to fruition. Season two’s fourth episode, “She Knows,” dropped hints that Bonnie might die — and her death could very well unfold like the ominous visions of her empath mother. Related stories Things Got Physical Between Celeste & Mary Louise on Big Little Lies, & Fans Approve Exclusive: What 'Big Little Lies' Wacky Child Therapist Actor Really Thinks of Her Character A Forensic Expert Pretty Much Confirmed This Super-Gross Game of Thrones Theory There’s no denying that, of the Monterey Five, Bonnie (Zoë Kravitz) has been struggling the most with guilt about the death of Perry (Alexander Skarsgard). Was he a garbage human? Yes. But does she torment herself every waking moment about taking another human life? Yes. Like her mother, she’s an empath. So when that mom, Elizabeth (Crystal Fox) came to town to help Bonnie work through whatever she was wrestling with emotionally, it seemed like a good thing. However, these two obviously have some issues of their own to work through. Still, things were looking up when the family headed to the house of Renata (Laura Dern) to attend Amabella’s birthday party. Until, that is, Elizabeth experienced another drowning vision and, this time, passed out. The episode ends with her in the hospital being treated for a stroke and possible brain bleed. And as if that isn’t bad enough, she emerges from her coma just long enough to see a vision of Bonnie floating, lifeless, in what appears to be Monterey’s beautiful blue sea. Oh, my. Does this really mean that Bonnie might not make it out of season two alive? This isn’t the first drowning vision Elizabeth has had, but it is the first one in which she so clearly saw her daughter. That can’t be good, right? Coupled with the near-constant imagery of the ocean in this season — Bonnie walking into the water, the waves crashing against the rocks, Celeste referencing one of the twins almost drowning — Elizabeth’s visions feel weighted. Story continues However, there is another possibility here. Perhaps Bonnie’s drowning really is symbolic. When Elizabeth first began having the visions, she told her daughter, “I see lots of water, and somebody’s drowning. I see you drowning right now, in a way.” Since the detective assigned to Perry’s homicide seems to be closing in on the women, maybe the drowning visions are intensifying because Bonnie is in danger of going to jail. Or maybe someone really is going to drown, and Elizabeth sees Bonnie because that is who she is most concerned about in all of this. Alas, it is also entirely possible that Elizabeth’s visions are prophetic. In which case, we sure hope BLL at least draws out the dark conclusion so we get as much screen time with Bonnie as possible before the season ends. Sign up for SheKnows' Newsletter . For the latest news, follow us on Facebook , Twitter , and Instagram .
EssilorLuxottica Société anonyme (EPA:EL): A Fundamentally Attractive Investment Want to participate in ashort research study? Help shape the future of investing tools and you could win a $250 gift card! Attractive stocks have exceptional fundamentals. In the case of EssilorLuxottica Société anonyme (EPA:EL), there's is a highly-regarded dividend payer that has been able to sustain great financial health over the past. In the following section, I expand a bit more on these key aspects. If you're interested in understanding beyond my broad commentary, take a look at thereport on EssilorLuxottica Société anonyme here. EL'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 EL has sufficient cash flows and proper cash management in place, which is a crucial insight into the health of the company. EL's has produced operating cash levels of 0.5x total debt over the past year, which implies that EL's management has put its borrowings into good use by generating enough cash to cover a sufficient portion of borrowings. For those seeking income streams from their portfolio, EL is a robust dividend payer as well. Over the past decade, the company has consistently increased its dividend payout, reaching a yield of 1.8%. For EssilorLuxottica Société anonyme, I've compiled three essential factors you should look at: 1. Future Outlook: What are well-informed industry analysts predicting for EL’s future growth? Take a look at ourfree research report of analyst consensusfor EL’s outlook. 2. Historical Performance: What has EL'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 EL? 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.
‘Last Week Tonight’: John Oliver Talks How Jared Kushner’s Middle East Peace Plan Focuses On “Not Doing Terrorism” Click here to read the full article. John Oliver kicked off Sunday night’s episode of Last Week Tonight taking us on the ongoing saga that is the Donald Trump presidency before digging into Jared Kushner ’s Middle East peace plan. Oliver talked about Trump’s “big week in diplomacy” as he visited with various authoritarians around the world. He joked about election meddling with Vladimir Putin, met up with his “friend” Prince Mohammed bin Salman and crossed the DMZ to North Korea to meet with Kim Jong Un and was delighted he was invited. Related stories President Donald Trump Tweetstorm - The Sunday Edition Donald Trump Meets Kim Jong-Un At DMZ For Handshake George R.R. Martin Says Internet Fan Culture Has Spiraled Into "Madness" A clip was played of Trump saying he was thrilled that they asked him to step over the DMZ line. Oliver chimed in: “That’s actually nice — Trump wanted to step over the line, was ready to do it, but waited until he received affirmative consent what a refreshing change of pace of him.” He added, “Maybe Trump’s mantra going forward should be ‘treat women with the same respect you treat murderous autocrats!'” Oliver then shifted to Kushner’s Mideast peace plan and how Trump has been hyping it since before he took office. This week, Kushner announced his “Peace to Prosperity” plan during a conference in Bahrain. Oliver cut to a clip with Kushner (actually, that’s Gilbert Gottfried). Oliver then pointed out that his plan is not really a plan but “a vision that fits somewhere between an economic wish list and a half-remembered rich boy wet dream.” Oliver continued, “Essentially he describes hypothetical investments in Palestine and its neighbors worth more than $50 billion once peace is achieved — but achieving peace is the really important part. Without that, you got nothing.” He also noted that Kushner said he was announcing the “peace” part later this year. In a clip, Kushner basically said the Middle East will be better off if people “stop doing terrorism” — and Oliver had a field day with that. Story continues It was pointed out that former U.S. ambassador to Israel Dan Kurtzer gave Kushner’s “so-called plan” a C- to which Oliver said “a C- is a trust fund boy’s A+”. As Oliver pointed out, no Palestinian government officials attended Kushner’s “Peace to Prosperity” workshop possibly because they don’t see Trump and Kushner as neutral mediators. Oliver began to state some facts: Jared’s family is so close to Prime Minister of Israel, Benjamin Netanyahu that he stayed at their home — and actually stayed in Kushner’s bedroom. The Trump administration recognized Jerusalem as Israel’s capital and cut hundreds of millions of aid to the Palestinians. When Netanyahu found out that Trump recognized Golan Heights as part of Israel, he named a settlement after him. Sign up for Deadline's Newsletter . For the latest news, follow us on Facebook , Twitter , and Instagram .
How Much Of Kindred Group plc (STO:KIND SDB) Do Institutions Own? Want to participate in ashort research study? Help shape the future of investing tools and you could win a $250 gift card! A look at the shareholders of Kindred Group plc (STO:KIND SDB) can tell us which group is most powerful. Institutions will often hold stock in bigger companies, and we expect to see insiders owning a noticeable percentage of the smaller ones. Companies that used to be publicly owned tend to have lower insider ownership. Kindred Group has a market capitalization of kr18b, so we would expect some institutional investors to have noticed the stock. In the chart below below, we can see that institutions own shares in the company. We can zoom in on the different ownership groups, to learn more about KIND SDB. Check out our latest analysis for Kindred Group Institutional investors commonly compare their own returns to the returns of a commonly followed index. So they generally do consider buying larger companies that are included in the relevant benchmark index. Kindred Group already has institutions on the share registry. Indeed, they own 62% of the company. This can indicate that the company has a certain degree of credibility in the investment community. However, it is best to be wary of relying on the supposed validation that comes with institutional investors. They too, get it wrong sometimes. It is not uncommon to see a big share price drop if two large institutional investors try to sell out of a stock at the same time. So it is worth checking the past earnings trajectory of Kindred Group, (below). Of course, keep in mind that there are other factors to consider, too. Institutional investors own over 50% of the company, so together than can probably strongly influence board decisions. We note that hedge funds don't have a meaningful investment in Kindred Group. There are a reasonable number of analysts covering the stock, so it might be useful to find out their aggregate view on the future. The definition of an insider can differ slightly between different countries, but members of the board of directors always count. Management ultimately answers to the board. However, it is not uncommon for managers to be executive board members, especially if they are a founder or the CEO. Insider ownership is positive when it signals leadership are thinking like the true owners of the company. However, high insider ownership can also give immense power to a small group within the company. This can be negative in some circumstances. I can report that insiders do own shares in Kindred Group plc. This is a big company, so it is good to see this level of alignment. Insiders own kr642m worth of shares (at current prices). Most would say this shows alignment of interests between shareholders and the board. Still, it might be worth checkingif those insiders have been selling. The general public holds a 30% stake in KIND SDB. While this group can't necessarily call the shots, it can certainly have a real influence on how the company is run. It seems that Private Companies own 3.5%, of the KIND SDB stock. It might be worth looking deeper into this. If related parties, such as insiders, have an interest in one of these private companies, that should be disclosed in the annual report. Private companies may also have a strategic interest in the company. It's always worth thinking about the different groups who own shares in a company. But to understand Kindred Group better, we need to consider many other factors. I like to dive deeperinto how a company has performed in the past. You can findhistoric revenue and earnings in thisdetailed graph. Ultimatelythe future is most important. You can access thisfreereport on analyst forecasts for the company. NB: Figures in this article are calculated using data from the last twelve months, which refer to the 12-month period ending on the last date of the month the financial statement is dated. This may not be consistent with full year annual report figures. 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.
What Kind Of Shareholder Owns Most AKKA Technologies SE (EPA:AKA) Stock? Want to participate in ashort research study? Help shape the future of investing tools and you could win a $250 gift card! A look at the shareholders of AKKA Technologies SE (EPA:AKA) can tell us which group is most powerful. Generally speaking, as a company grows, institutions will increase their ownership. Conversely, insiders often decrease their ownership over time. I quite like to see at least a little bit of insider ownership. As Charlie Munger said 'Show me the incentive and I will show you the outcome.' With a market capitalization of €1.2b, AKKA Technologies is a decent size, so it is probably on the radar of institutional investors. Taking a look at our data on the ownership groups (below), it's seems that institutions are noticeable on the share registry. Let's take a closer look to see what the different types of shareholder can tell us about AKA. View our latest analysis for AKKA Technologies Institutions typically measure themselves against a benchmark when reporting to their own investors, so they often become more enthusiastic about a stock once it's included in a major index. We would expect most companies to have some institutions on the register, especially if they are growing. We can see that AKKA Technologies does have institutional investors; and they hold 37% of the stock. This implies the analysts working for those institutions have looked at the stock and they like it. But just like anyone else, they could be wrong. If multiple institutions change their view on a stock at the same time, you could see the share price drop fast. It's therefore worth looking at AKKA Technologies's earnings history, below. Of course, the future is what really matters. AKKA Technologies is not owned by hedge funds. Quite a few analysts cover the stock, so you could look into forecast growth quite easily. While the precise definition of an insider can be subjective, almost everyone considers board members to be insiders. The company management answer to the board; and the latter should represent the interests of shareholders. Notably, sometimes top-level managers are on the board, themselves. Most consider insider ownership a positive because it can indicate the board is well aligned with other shareholders. However, on some occasions too much power is concentrated within this group. Our most recent data indicates that insiders own a reasonable proportion of AKKA Technologies SE. Insiders own €302m worth of shares in the €1.2b company. That's quite meaningful. Most would say this shows a good degree of alignment with shareholders, especially in a company of this size. You canclick here to see if those insiders have been buying or selling. With a 15% ownership, the general public have some degree of sway over AKA. While this size of ownership may not be enough to sway a policy decision in their favour, they can still make a collective impact on company policies. Our data indicates that Private Companies hold 23%, of the company's shares. Private companies may be related parties. Sometimes insiders have an interest in a public company through a holding in a private company, rather than in their own capacity as an individual. While it's hard to draw any broad stroke conclusions, it is worth noting as an area for further research. I find it very interesting to look at who exactly owns a company. But to truly gain insight, we need to consider other information, too. I like to dive deeperinto how a company has performed in the past. You can findhistoric revenue and earnings in thisdetailed graph. If you are like me, you may want to think about whether this company will grow or shrink. Luckily, you can checkthis free report showing analyst forecasts for its future. NB: Figures in this article are calculated using data from the last twelve months, which refer to the 12-month period ending on the last date of the month the financial statement is dated. This may not be consistent with full year annual report figures. 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.
June Sees One Of Largest Monthly Inflows Just as the U.S. stock market stumbled in May only to take off in June, so too did flows for U.S.-listed ETFs. After registering their largest outflow of the year in May, ETFs took in their biggest inflow of the year in June—$63.8 billion. In fact, June’s inflow was not only the largest of the year, but one of the largest monthly hauls ever, just a tad below the all-time monthly record from January 2018 of $68.1 billion. Last month’s strong showing was enough to push year-to-date inflows ahead of 2018’s pace for the first time this year, $132.1 billion compared with $121.3 billion. Stocks & Bonds In Favor In a month in which stocks and bonds surged together, investors likewise plowed heady amounts of money into both U.S. equity ETFs and U.S. fixed income ETFs—$34.1 billion and $24.8 billion, respectively. The S&P 500 zoomed to a record high in June after the Federal Reserve hinted it could cut interest rates as soon as the July meeting. The dovish shift also had the effect of bolstering bond prices, which were already strong amid concerns about the trade war and economic growth. The 10-year Treasury yield dipped as low as 1.97% (bond prices and interest rates move inversely). The bulk of June’s inflows went toward brand name funds. TheiShares Russell 1000 Value ETF (IWD), theiShares Russell 1000 Growth ETF (IWF)and theSPDR S&P 500 ETF Trust (SPY)were popular on the equity side, while theiShares iBoxx USD Investment Grade Corporate Bond ETF (LQD)and theiShares Short Treasury Bond ETF (SHV)were popular on the fixed income side. At the same time, theSPDR Gold Trust (GLD)snuck onto the top inflows list, with a $2.2 billion haul, as investors embraced gold after the Fed meeting. The yellow metal reached a six-year high above $1,420/oz in June. Bucking Outflows Trend While most ETFs took in fresh cash in June, a handful of ETFs faced hefty outflows. TheiShares Core S&P 500 ETF (IVV), theiShares 1-3 Year Treasury Bond ETF (SHY)and theiShares MSCI EAFE ETF (EFA)shed more than $1.4 billion in assets each. Meanwhile, theVanguard Intermediate-Term Corporate Bond ETF (VCIT), theDirexion Daily Gold Miners Index Bull 3x Shares (NUGT), theiShares MSCI Japan ETF (EWJ)and theiShares Edge MSCI USA Quality Factor ETF (QUAL)had smaller, but still substantive, outflows during the month. For a full list of June’s top inflows and outflows, see the tables below: Top Gainers (June 2019) [{"Ticker": "IWD", "Name": "iShares Russell 1000 Value ETF", "Issuer": "Blackrock", "Net Flows ($,mm)": "5,010.21", "AUM ($M)": "43,463.73", "% of AUM": "11.53%", "YTD 2019 Net Flows($,M)": "882.44"}, {"Ticker": "LQD", "Name": "iShares iBoxx USD Investment Grade Corporate Bond ETF", "Issuer": "Blackrock", "Net Flows ($,mm)": "4,280.52", "AUM ($M)": "36,743.52", "% of AUM": "11.65%", "YTD 2019 Net Flows($,M)": "3,968.81"}, {"Ticker": "SHV", "Name": "iShares Short Treasury Bond ETF", "Issuer": "Blackrock", "Net Flows ($,mm)": "4,153.39", "AUM ($M)": "24,591.18", "% of AUM": "16.89%", "YTD 2019 Net Flows($,M)": "3,832.43"}, {"Ticker": "IWF", "Name": "iShares Russell 1000 Growth ETF", "Issuer": "Blackrock", "Net Flows ($,mm)": "4,030.41", "AUM ($M)": "48,446.79", "% of AUM": "8.32%", "YTD 2019 Net Flows($,M)": "2,270.46"}, {"Ticker": "SPY", "Name": "SPDR S&P 500 ETF Trust", "Issuer": "State Street Global Advisors", "Net Flows ($,mm)": "3,022.74", "AUM ($M)": "266,489.77", "% of AUM": "1.13%", "YTD 2019 Net Flows($,M)": "-15,792.44"}, {"Ticker": "HYG", "Name": "iShares iBoxx USD High Yield Corporate Bond ETF", "Issuer": "Blackrock", "Net Flows ($,mm)": "2,689.64", "AUM ($M)": "17,725.88", "% of AUM": "15.17%", "YTD 2019 Net Flows($,M)": "3,573.91"}, {"Ticker": "VOO", "Name": "Vanguard S&P 500 ETF", "Issuer": "Vanguard", "Net Flows ($,mm)": "2,478.49", "AUM ($M)": "115,055.66", "% of AUM": "2.15%", "YTD 2019 Net Flows($,M)": "9,174.01"}, {"Ticker": "IEF", "Name": "iShares 7-10 Year Treasury Bond ETF", "Issuer": "Blackrock", "Net Flows ($,mm)": "2,327.15", "AUM ($M)": "16,814.69", "% of AUM": "13.84%", "YTD 2019 Net Flows($,M)": "5,851.80"}, {"Ticker": "GLD", "Name": "SPDR Gold Trust", "Issuer": "State Street Global Advisors", "Net Flows ($,mm)": "2,207.43", "AUM ($M)": "35,794.72", "% of AUM": "6.17%", "YTD 2019 Net Flows($,M)": "376.34"}, {"Ticker": "QQQ", "Name": "Invesco QQQ Trust", "Issuer": "Invesco", "Net Flows ($,mm)": "1,803.04", "AUM ($M)": "74,194.87", "% of AUM": "2.43%", "YTD 2019 Net Flows($,M)": "578.52"}] Top Gainers (Year-to-Date) [{"Ticker": "VOO", "Name": "Vanguard S&P 500 ETF", "Issuer": "Vanguard", "Net Flows ($,mm)": "9,174.01", "AUM ($M)": "115,055.66", "% of AUM": "7.97%", "June 2019 Net Flows($,M)": "2,478.49"}, {"Ticker": "IEFA", "Name": "iShares Core MSCI EAFE ETF", "Issuer": "Blackrock", "Net Flows ($,mm)": "7,235.28", "AUM ($M)": "65,462.89", "% of AUM": "11.05%", "June 2019 Net Flows($,M)": "1,181.63"}, {"Ticker": "USMV", "Name": "iShares Edge MSCI Min Vol U.S.A. ETF", "Issuer": "Blackrock", "Net Flows ($,mm)": "5,897.28", "AUM ($M)": "28,468.90", "% of AUM": "20.71%", "June 2019 Net Flows($,M)": "940.30"}, {"Ticker": "IEF", "Name": "iShares 7-10 Year Treasury Bond ETF", "Issuer": "Blackrock", "Net Flows ($,mm)": "5,851.80", "AUM ($M)": "16,814.69", "% of AUM": "34.80%", "June 2019 Net Flows($,M)": "2,327.15"}, {"Ticker": "IEMG", "Name": "iShares Core MSCI Emerging Markets ETF", "Issuer": "Blackrock", "Net Flows ($,mm)": "5,384.51", "AUM ($M)": "59,182.42", "% of AUM": "9.10%", "June 2019 Net Flows($,M)": "0.00"}, {"Ticker": "TLT", "Name": "iShares 20+ Year Treasury Bond ETF", "Issuer": "Blackrock", "Net Flows ($,mm)": "4,873.82", "AUM ($M)": "14,560.97", "% of AUM": "33.47%", "June 2019 Net Flows($,M)": "151.33"}, {"Ticker": "VTI", "Name": "Vanguard Total Stock Market ETF", "Issuer": "Vanguard", "Net Flows ($,mm)": "4,789.27", "AUM ($M)": "115,418.37", "% of AUM": "4.15%", "June 2019 Net Flows($,M)": "463.71"}, {"Ticker": "BNDX", "Name": "Vanguard Total International Bond ETF", "Issuer": "Vanguard", "Net Flows ($,mm)": "4,598.11", "AUM ($M)": "18,276.38", "% of AUM": "25.16%", "June 2019 Net Flows($,M)": "758.73"}, {"Ticker": "GOVT", "Name": "iShares U.S. Treasury Bond ETF", "Issuer": "Blackrock", "Net Flows ($,mm)": "4,429.34", "AUM ($M)": "11,730.18", "% of AUM": "37.76%", "June 2019 Net Flows($,M)": "883.26"}, {"Ticker": "AGG", "Name": "iShares Core U.S. Aggregate Bond ETF", "Issuer": "Blackrock", "Net Flows ($,mm)": "4,293.21", "AUM ($M)": "64,036.41", "% of AUM": "6.70%", "June 2019 Net Flows($,M)": "1,271.23"}] Biggest Losers (June 2019) [{"Ticker": "IVV", "Name": "iShares Core S&P 500 ETF", "Issuer": "Blackrock", "Net Flows ($,mm)": "-4,041.78", "AUM ($M)": "175,363.02", "% of AUM": "-2.30%", "YTD 2019 Net Flows($,M)": "1,326.96"}, {"Ticker": "SHY", "Name": "iShares 1-3 Year Treasury Bond ETF", "Issuer": "Blackrock", "Net Flows ($,mm)": "-2,578.16", "AUM ($M)": "17,669.96", "% of AUM": "-14.59%", "YTD 2019 Net Flows($,M)": "-3,245.63"}, {"Ticker": "EFA", "Name": "iShares MSCI EAFE ETF", "Issuer": "Blackrock", "Net Flows ($,mm)": "-1,444.79", "AUM ($M)": "60,829.06", "% of AUM": "-2.38%", "YTD 2019 Net Flows($,M)": "-8,272.86"}, {"Ticker": "VCIT", "Name": "Vanguard Intermediate-Term Corporate Bond ETF", "Issuer": "Vanguard", "Net Flows ($,mm)": "-783.84", "AUM ($M)": "23,961.60", "% of AUM": "-3.27%", "YTD 2019 Net Flows($,M)": "3,994.88"}, {"Ticker": "NUGT", "Name": "Direxion Daily Gold Miners Index Bull 3X Shares", "Issuer": "Rafferty Asset Management", "Net Flows ($,mm)": "-633.99", "AUM ($M)": "1,258.13", "% of AUM": "-50.39%", "YTD 2019 Net Flows($,M)": "-683.48"}, {"Ticker": "EWJ", "Name": "iShares MSCI Japan ETF", "Issuer": "Blackrock", "Net Flows ($,mm)": "-595.37", "AUM ($M)": "12,447.90", "% of AUM": "-4.78%", "YTD 2019 Net Flows($,M)": "-3,808.53"}, {"Ticker": "QUAL", "Name": "iShares Edge MSCI U.S.A. Quality Factor ETF", "Issuer": "Blackrock", "Net Flows ($,mm)": "-545.96", "AUM ($M)": "10,471.49", "% of AUM": "-5.21%", "YTD 2019 Net Flows($,M)": "2,225.30"}, {"Ticker": "XLK", "Name": "Technology Select Sector SPDR Fund", "Issuer": "State Street Global Advisors", "Net Flows ($,mm)": "-491.38", "AUM ($M)": "21,206.41", "% of AUM": "-2.32%", "YTD 2019 Net Flows($,M)": "-502.67"}, {"Ticker": "VWO", "Name": "Vanguard FTSE Emerging Markets ETF", "Issuer": "Vanguard", "Net Flows ($,mm)": "-437.92", "AUM ($M)": "63,800.40", "% of AUM": "-0.69%", "YTD 2019 Net Flows($,M)": "2,315.00"}, {"Ticker": "GDX", "Name": "VanEck Vectors Gold Miners ETF", "Issuer": "VanEck", "Net Flows ($,mm)": "-429.88", "AUM ($M)": "10,459.00", "% of AUM": "-4.11%", "YTD 2019 Net Flows($,M)": "-1,994.14"}] Biggest Losers (Year-to-Date) [{"Ticker": "SPY", "Name": "SPDR S&P 500 ETF Trust", "Issuer": "State Street Global Advisors", "Net Flows ($,mm)": "-15,792.44", "AUM ($M)": "266,489.77", "% of AUM": "-5.93%", "June 2019 Net Flows($,M)": "3,022.74"}, {"Ticker": "EFA", "Name": "iShares MSCI EAFE ETF", "Issuer": "Blackrock", "Net Flows ($,mm)": "-8,272.86", "AUM ($M)": "60,829.06", "% of AUM": "-13.60%", "June 2019 Net Flows($,M)": "-1,444.79"}, {"Ticker": "BSV", "Name": "Vanguard Short-Term Bond ETF", "Issuer": "Vanguard", "Net Flows ($,mm)": "-6,118.23", "AUM ($M)": "22,390.84", "% of AUM": "-27.32%", "June 2019 Net Flows($,M)": "-273.17"}, {"Ticker": "IWM", "Name": "iShares Russell 2000 ETF", "Issuer": "Blackrock", "Net Flows ($,mm)": "-4,863.40", "AUM ($M)": "41,714.47", "% of AUM": "-11.66%", "June 2019 Net Flows($,M)": "508.61"}, {"Ticker": "EWJ", "Name": "iShares MSCI Japan ETF", "Issuer": "Blackrock", "Net Flows ($,mm)": "-3,808.53", "AUM ($M)": "12,447.90", "% of AUM": "-30.60%", "June 2019 Net Flows($,M)": "-595.37"}, {"Ticker": "SHY", "Name": "iShares 1-3 Year Treasury Bond ETF", "Issuer": "Blackrock", "Net Flows ($,mm)": "-3,245.63", "AUM ($M)": "17,669.96", "% of AUM": "-18.37%", "June 2019 Net Flows($,M)": "-2,578.16"}, {"Ticker": "XLE", "Name": "Energy Select Sector SPDR Fund", "Issuer": "State Street Global Advisors", "Net Flows ($,mm)": "-2,626.75", "AUM ($M)": "12,196.78", "% of AUM": "-21.54%", "June 2019 Net Flows($,M)": "415.59"}, {"Ticker": "TIP", "Name": "iShares TIPS Bond ETF", "Issuer": "Blackrock", "Net Flows ($,mm)": "-2,087.63", "AUM ($M)": "20,386.60", "% of AUM": "-10.24%", "June 2019 Net Flows($,M)": "275.43"}, {"Ticker": "GDX", "Name": "VanEck Vectors Gold Miners ETF", "Issuer": "VanEck", "Net Flows ($,mm)": "-1,994.14", "AUM ($M)": "10,459.00", "% of AUM": "-19.07%", "June 2019 Net Flows($,M)": "-429.88"}, {"Ticker": "XLF", "Name": "Financial Select Sector SPDR Fund", "Issuer": "State Street Global Advisors", "Net Flows ($,mm)": "-1,980.85", "AUM ($M)": "23,963.14", "% of AUM": "-8.27%", "June 2019 Net Flows($,M)": "-49.14"}] Asset Classes (June 2019) [{"": "U.S. Equity", "Net Flows ($, mm)": "34,075.48", "AUM ($, mm)": "2,242,624.30", "% of AUM": "1.52%"}, {"": "International Equity", "Net Flows ($, mm)": "229.38", "AUM ($, mm)": "827,039.43", "% of AUM": "0.03%"}, {"": "U.S. Fixed Income", "Net Flows ($, mm)": "24,726.43", "AUM ($, mm)": "686,404.03", "% of AUM": "3.60%"}, {"": "International Fixed Income", "Net Flows ($, mm)": "2,663.83", "AUM ($, mm)": "77,732.95", "% of AUM": "3.43%"}, {"": "Commodities ETFs", "Net Flows ($, mm)": "2,984.34", "AUM ($, mm)": "68,499.95", "% of AUM": "4.36%"}, {"": "Currency", "Net Flows ($, mm)": "-72.48", "AUM ($, mm)": "1,441.96", "% of AUM": "-5.03%"}, {"": "Leveraged", "Net Flows ($, mm)": "-1,508.04", "AUM ($, mm)": "37,553.78", "% of AUM": "-4.02%"}, {"": "Inverse", "Net Flows ($, mm)": "465.00", "AUM ($, mm)": "11,882.25", "% of AUM": "3.91%"}, {"": "Asset Allocation", "Net Flows ($, mm)": "130.44", "AUM ($, mm)": "9,683.95", "% of AUM": "1.35%"}, {"": "Alternatives", "Net Flows ($, mm)": "66.16", "AUM ($, mm)": "4,538.85", "% of AUM": "1.46%"}, {"": "Total:", "Net Flows ($, mm)": "63,760.52", "AUM ($, mm)": "3,967,401.44", "% of AUM": "1.61%"}] Asset Classes (Year-to-Date) [{"": "U.S. Equity", "Net Flows ($, mm)": "47,893.16", "AUM ($, mm)": "2,242,624.30", "% of AUM": "2.14%"}, {"": "International Equity", "Net Flows ($, mm)": "8,730.90", "AUM ($, mm)": "827,039.43", "% of AUM": "1.06%"}, {"": "U.S. Fixed Income", "Net Flows ($, mm)": "66,813.19", "AUM ($, mm)": "686,404.03", "% of AUM": "9.73%"}, {"": "International Fixed Income", "Net Flows ($, mm)": "8,414.46", "AUM ($, mm)": "77,732.95", "% of AUM": "10.82%"}, {"": "Commodities ETFs", "Net Flows ($, mm)": "172.07", "AUM ($, mm)": "68,499.95", "% of AUM": "0.25%"}, {"": "Currency", "Net Flows ($, mm)": "-353.13", "AUM ($, mm)": "1,441.96", "% of AUM": "-24.49%"}, {"": "Leveraged", "Net Flows ($, mm)": "-3,300.96", "AUM ($, mm)": "37,553.78", "% of AUM": "-8.79%"}, {"": "Inverse", "Net Flows ($, mm)": "3,317.87", "AUM ($, mm)": "11,882.25", "% of AUM": "27.92%"}, {"": "Asset Allocation", "Net Flows ($, mm)": "-217.88", "AUM ($, mm)": "9,683.95", "% of AUM": "-2.25%"}, {"": "Alternatives", "Net Flows ($, mm)": "619.40", "AUM ($, mm)": "4,538.85", "% of AUM": "13.65%"}, {"": "Total:", "Net Flows ($, mm)": "132,089.07", "AUM ($, mm)": "3,967,401.44", "% of AUM": "3.33%"}] June 2019 ETF Brand League Table [{"Brand": "iShares", "Net Flows ($,M)": "34,441.50", "AUM ($,M)": "1,563,005.64", "% of AUM": "2.20%", "YTD 2019 Net Flows($,M)": "59,068.85"}, {"Brand": "Vanguard", "Net Flows ($,M)": "10,231.27", "AUM ($,M)": "1,011,102.03", "% of AUM": "1.01%", "YTD 2019 Net Flows($,M)": "40,256.45"}, {"Brand": "SPDR", "Net Flows ($,M)": "13,083.50", "AUM ($,M)": "641,141.46", "% of AUM": "2.04%", "YTD 2019 Net Flows($,M)": "-9,576.86"}, {"Brand": "Invesco", "Net Flows ($,M)": "3,275.11", "AUM ($,M)": "200,464.42", "% of AUM": "1.63%", "YTD 2019 Net Flows($,M)": "6,781.99"}, {"Brand": "Schwab", "Net Flows ($,M)": "1,924.40", "AUM ($,M)": "142,817.30", "% of AUM": "1.35%", "YTD 2019 Net Flows($,M)": "12,317.24"}, {"Brand": "First Trust", "Net Flows ($,M)": "1,072.33", "AUM ($,M)": "75,739.08", "% of AUM": "1.42%", "YTD 2019 Net Flows($,M)": "5,869.30"}, {"Brand": "WisdomTree", "Net Flows ($,M)": "-75.26", "AUM ($,M)": "38,785.70", "% of AUM": "-0.19%", "YTD 2019 Net Flows($,M)": "-75.16"}, {"Brand": "VanEck", "Net Flows ($,M)": "-922.41", "AUM ($,M)": "37,168.15", "% of AUM": "-2.48%", "YTD 2019 Net Flows($,M)": "-1,803.15"}, {"Brand": "ProShares", "Net Flows ($,M)": "-167.54", "AUM ($,M)": "31,147.84", "% of AUM": "-0.54%", "YTD 2019 Net Flows($,M)": "1,293.44"}, {"Brand": "JPMorgan", "Net Flows ($,M)": "198.25", "AUM ($,M)": "28,430.97", "% of AUM": "0.70%", "YTD 2019 Net Flows($,M)": "6,373.01"}, {"Brand": "PIMCO", "Net Flows ($,M)": "433.14", "AUM ($,M)": "19,354.80", "% of AUM": "2.24%", "YTD 2019 Net Flows($,M)": "565.86"}, {"Brand": "FlexShares", "Net Flows ($,M)": "91.64", "AUM ($,M)": "15,736.27", "% of AUM": "0.58%", "YTD 2019 Net Flows($,M)": "10.82"}, {"Brand": "Fidelity", "Net Flows ($,M)": "104.28", "AUM ($,M)": "13,834.59", "% of AUM": "0.75%", "YTD 2019 Net Flows($,M)": "1,329.59"}, {"Brand": "Xtrackers", "Net Flows ($,M)": "-148.83", "AUM ($,M)": "13,671.91", "% of AUM": "-1.09%", "YTD 2019 Net Flows($,M)": "1,482.24"}, {"Brand": "Direxion", "Net Flows ($,M)": "-1,013.65", "AUM ($,M)": "12,952.76", "% of AUM": "-7.83%", "YTD 2019 Net Flows($,M)": "-1,496.32"}, {"Brand": "Goldman Sachs", "Net Flows ($,M)": "17.06", "AUM ($,M)": "12,536.82", "% of AUM": "0.14%", "YTD 2019 Net Flows($,M)": "1,331.89"}, {"Brand": "Global X", "Net Flows ($,M)": "353.26", "AUM ($,M)": "10,489.12", "% of AUM": "3.37%", "YTD 2019 Net Flows($,M)": "1,420.44"}, {"Brand": "Alerian", "Net Flows ($,M)": "-5.31", "AUM ($,M)": "8,636.19", "% of AUM": "-0.06%", "YTD 2019 Net Flows($,M)": "-636.66"}, {"Brand": "Pacer", "Net Flows ($,M)": "66.99", "AUM ($,M)": "4,484.52", "% of AUM": "1.49%", "YTD 2019 Net Flows($,M)": "1,100.47"}, {"Brand": "John Hancock", "Net Flows ($,M)": "60.94", "AUM ($,M)": "4,106.42", "% of AUM": "1.48%", "YTD 2019 Net Flows($,M)": "878.13"}, {"Brand": "UBS", "Net Flows ($,M)": "46.98", "AUM ($,M)": "4,077.07", "% of AUM": "1.15%", "YTD 2019 Net Flows($,M)": "187.46"}, {"Brand": "ETF Managers Group", "Net Flows ($,M)": "184.41", "AUM ($,M)": "3,743.47", "% of AUM": "4.93%", "YTD 2019 Net Flows($,M)": "561.25"}, {"Brand": "IndexIQ", "Net Flows ($,M)": "-186.01", "AUM ($,M)": "3,526.55", "% of AUM": "-5.27%", "YTD 2019 Net Flows($,M)": "-757.02"}, {"Brand": "Hartford", "Net Flows ($,M)": "120.70", "AUM ($,M)": "3,517.96", "% of AUM": "3.43%", "YTD 2019 Net Flows($,M)": "913.70"}, {"Brand": "Principal", "Net Flows ($,M)": "-183.81", "AUM ($,M)": "3,214.18", "% of AUM": "-5.72%", "YTD 2019 Net Flows($,M)": "-197.04"}, {"Brand": "Invesco DB", "Net Flows ($,M)": "-94.05", "AUM ($,M)": "3,213.45", "% of AUM": "-2.93%", "YTD 2019 Net Flows($,M)": "-789.69"}, {"Brand": "Barclays", "Net Flows ($,M)": "11.37", "AUM ($,M)": "3,174.41", "% of AUM": "0.36%", "YTD 2019 Net Flows($,M)": "32.98"}, {"Brand": "ETRACS", "Net Flows ($,M)": "-26.99", "AUM ($,M)": "3,170.83", "% of AUM": "-0.85%", "YTD 2019 Net Flows($,M)": "-3.65"}, {"Brand": "VictoryShares", "Net Flows ($,M)": "-64.22", "AUM ($,M)": "3,067.28", "% of AUM": "-2.09%", "YTD 2019 Net Flows($,M)": "-179.98"}, {"Brand": "ARK", "Net Flows ($,M)": "-44.32", "AUM ($,M)": "2,811.52", "% of AUM": "-1.58%", "YTD 2019 Net Flows($,M)": "411.37"}, {"Brand": "ALPS", "Net Flows ($,M)": "-53.81", "AUM ($,M)": "2,732.31", "% of AUM": "-1.97%", "YTD 2019 Net Flows($,M)": "-227.60"}, {"Brand": "LibertyShares", "Net Flows ($,M)": "104.19", "AUM ($,M)": "2,708.06", "% of AUM": "3.85%", "YTD 2019 Net Flows($,M)": "905.30"}, {"Brand": "VelocityShares", "Net Flows ($,M)": "224.33", "AUM ($,M)": "2,645.92", "% of AUM": "8.48%", "YTD 2019 Net Flows($,M)": "1,170.03"}, {"Brand": "Credit Suisse", "Net Flows ($,M)": "-6.57", "AUM ($,M)": "2,610.91", "% of AUM": "-0.25%", "YTD 2019 Net Flows($,M)": "-33.01"}, {"Brand": "KraneShares", "Net Flows ($,M)": "20.48", "AUM ($,M)": "2,412.99", "% of AUM": "0.85%", "YTD 2019 Net Flows($,M)": "93.86"}, {"Brand": "US Commodity Funds", "Net Flows ($,M)": "85.36", "AUM ($,M)": "2,406.41", "% of AUM": "3.55%", "YTD 2019 Net Flows($,M)": "-453.91"}, {"Brand": "iPath", "Net Flows ($,M)": "127.51", "AUM ($,M)": "2,052.13", "% of AUM": "6.21%", "YTD 2019 Net Flows($,M)": "764.52"}, {"Brand": "Vident", "Net Flows ($,M)": "6.52", "AUM ($,M)": "1,703.33", "% of AUM": "0.38%", "YTD 2019 Net Flows($,M)": "55.78"}, {"Brand": "Innovator", "Net Flows ($,M)": "119.86", "AUM ($,M)": "1,548.30", "% of AUM": "7.74%", "YTD 2019 Net Flows($,M)": "694.31"}, {"Brand": "ETFS", "Net Flows ($,M)": "16.41", "AUM ($,M)": "1,477.51", "% of AUM": "1.11%", "YTD 2019 Net Flows($,M)": "-2.96"}, {"Brand": "USAA", "Net Flows ($,M)": "39.16", "AUM ($,M)": "1,415.12", "% of AUM": "2.77%", "YTD 2019 Net Flows($,M)": "198.22"}, {"Brand": "ROBO Global", "Net Flows ($,M)": "-24.29", "AUM ($,M)": "1,332.41", "% of AUM": "-1.82%", "YTD 2019 Net Flows($,M)": "-113.91"}, {"Brand": "Janus Henderson", "Net Flows ($,M)": "56.63", "AUM ($,M)": "1,177.84", "% of AUM": "4.81%", "YTD 2019 Net Flows($,M)": "159.05"}, {"Brand": "Aberdeen", "Net Flows ($,M)": "31.30", "AUM ($,M)": "1,122.97", "% of AUM": "2.79%", "YTD 2019 Net Flows($,M)": "13.65"}, {"Brand": "Legg Mason", "Net Flows ($,M)": "27.17", "AUM ($,M)": "1,084.20", "% of AUM": "2.51%", "YTD 2019 Net Flows($,M)": "205.59"}, {"Brand": "DeltaShares", "Net Flows ($,M)": "0.00", "AUM ($,M)": "794.68", "% of AUM": "0.00%", "YTD 2019 Net Flows($,M)": "-7.95"}, {"Brand": "Cambria", "Net Flows ($,M)": "-4.58", "AUM ($,M)": "711.90", "% of AUM": "-0.64%", "YTD 2019 Net Flows($,M)": "50.75"}, {"Brand": "Davis", "Net Flows ($,M)": "14.04", "AUM ($,M)": "683.90", "% of AUM": "2.05%", "YTD 2019 Net Flows($,M)": "60.59"}, {"Brand": "Nuveen", "Net Flows ($,M)": "-131.15", "AUM ($,M)": "672.10", "% of AUM": "-19.51%", "YTD 2019 Net Flows($,M)": "55.29"}, {"Brand": "O\u2019Shares", "Net Flows ($,M)": "15.61", "AUM ($,M)": "666.09", "% of AUM": "2.34%", "YTD 2019 Net Flows($,M)": "17.75"}, {"Brand": "AdvisorShares", "Net Flows ($,M)": "1.32", "AUM ($,M)": "640.98", "% of AUM": "0.21%", "YTD 2019 Net Flows($,M)": "21.33"}, {"Brand": "REX Microsectors", "Net Flows ($,M)": "0.00", "AUM ($,M)": "639.65", "% of AUM": "0.00%", "YTD 2019 Net Flows($,M)": "-17.78"}, {"Brand": "GraniteShares", "Net Flows ($,M)": "6.92", "AUM ($,M)": "628.50", "% of AUM": "1.10%", "YTD 2019 Net Flows($,M)": "198.35"}, {"Brand": "WBI Shares", "Net Flows ($,M)": "32.42", "AUM ($,M)": "623.10", "% of AUM": "5.20%", "YTD 2019 Net Flows($,M)": "70.49"}, {"Brand": "RiverFront", "Net Flows ($,M)": "-1.45", "AUM ($,M)": "600.30", "% of AUM": "-0.24%", "YTD 2019 Net Flows($,M)": "-32.49"}, {"Brand": "Virtus", "Net Flows ($,M)": "27.44", "AUM ($,M)": "572.11", "% of AUM": "4.80%", "YTD 2019 Net Flows($,M)": "339.67"}, {"Brand": "Columbia", "Net Flows ($,M)": "-3.37", "AUM ($,M)": "564.53", "% of AUM": "-0.60%", "YTD 2019 Net Flows($,M)": "-19.03"}, {"Brand": "Amplify", "Net Flows ($,M)": "2.32", "AUM ($,M)": "520.69", "% of AUM": "0.45%", "YTD 2019 Net Flows($,M)": "-41.27"}, {"Brand": "PGIM", "Net Flows ($,M)": "61.38", "AUM ($,M)": "493.45", "% of AUM": "12.44%", "YTD 2019 Net Flows($,M)": "217.37"}, {"Brand": "Main Funds", "Net Flows ($,M)": "7.04", "AUM ($,M)": "475.69", "% of AUM": "1.48%", "YTD 2019 Net Flows($,M)": "51.09"}, {"Brand": "InfraCap", "Net Flows ($,M)": "-10.95", "AUM ($,M)": "470.35", "% of AUM": "-2.33%", "YTD 2019 Net Flows($,M)": "12.62"}, {"Brand": "Inspire", "Net Flows ($,M)": "6.72", "AUM ($,M)": "412.54", "% of AUM": "1.63%", "YTD 2019 Net Flows($,M)": "154.62"}, {"Brand": "FormulaFolios", "Net Flows ($,M)": "-0.60", "AUM ($,M)": "408.84", "% of AUM": "-0.15%", "YTD 2019 Net Flows($,M)": "51.57"}, {"Brand": "EMQQ", "Net Flows ($,M)": "-0.03", "AUM ($,M)": "400.24", "% of AUM": "-0.01%", "YTD 2019 Net Flows($,M)": "24.34"}, {"Brand": "Alpha Architect", "Net Flows ($,M)": "-15.41", "AUM ($,M)": "387.27", "% of AUM": "-3.98%", "YTD 2019 Net Flows($,M)": "-22.33"}, {"Brand": "Nationwide", "Net Flows ($,M)": "0.01", "AUM ($,M)": "362.81", "% of AUM": "0.00%", "YTD 2019 Net Flows($,M)": "-3.25"}, {"Brand": "Tortoise", "Net Flows ($,M)": "2.42", "AUM ($,M)": "354.78", "% of AUM": "0.68%", "YTD 2019 Net Flows($,M)": "18.92"}, {"Brand": "TMW Funds", "Net Flows ($,M)": "10.34", "AUM ($,M)": "271.97", "% of AUM": "3.80%", "YTD 2019 Net Flows($,M)": "56.50"}, {"Brand": "Highland", "Net Flows ($,M)": "-17.72", "AUM ($,M)": "263.04", "% of AUM": "-6.74%", "YTD 2019 Net Flows($,M)": "-120.48"}, {"Brand": "Aptus", "Net Flows ($,M)": "-6.57", "AUM ($,M)": "261.17", "% of AUM": "-2.52%", "YTD 2019 Net Flows($,M)": "34.87"}, {"Brand": "Motley Fool", "Net Flows ($,M)": "-1.72", "AUM ($,M)": "257.64", "% of AUM": "-0.67%", "YTD 2019 Net Flows($,M)": "40.29"}, {"Brand": "C-Tracks", "Net Flows ($,M)": "0.00", "AUM ($,M)": "253.20", "% of AUM": "0.00%", "YTD 2019 Net Flows($,M)": "0.00"}, {"Brand": "Sprott", "Net Flows ($,M)": "3.55", "AUM ($,M)": "227.68", "% of AUM": "1.56%", "YTD 2019 Net Flows($,M)": "12.32"}, {"Brand": "YieldShares", "Net Flows ($,M)": "-7.68", "AUM ($,M)": "224.25", "% of AUM": "-3.43%", "YTD 2019 Net Flows($,M)": "30.51"}, {"Brand": "Strategy Shares", "Net Flows ($,M)": "-43.62", "AUM ($,M)": "213.67", "% of AUM": "-20.42%", "YTD 2019 Net Flows($,M)": "-69.90"}, {"Brand": "Teucrium", "Net Flows ($,M)": "19.21", "AUM ($,M)": "204.18", "% of AUM": "9.41%", "YTD 2019 Net Flows($,M)": "48.32"}, {"Brand": "Reality Shares", "Net Flows ($,M)": "-2.36", "AUM ($,M)": "198.19", "% of AUM": "-1.19%", "YTD 2019 Net Flows($,M)": "-28.87"}, {"Brand": "American Century", "Net Flows ($,M)": "22.66", "AUM ($,M)": "157.03", "% of AUM": "14.43%", "YTD 2019 Net Flows($,M)": "69.13"}, {"Brand": "ArrowShares", "Net Flows ($,M)": "3.90", "AUM ($,M)": "148.85", "% of AUM": "2.62%", "YTD 2019 Net Flows($,M)": "-16.17"}, {"Brand": "Eve Capital", "Net Flows ($,M)": "0.00", "AUM ($,M)": "141.54", "% of AUM": "0.00%", "YTD 2019 Net Flows($,M)": "-24.42"}, {"Brand": "ClearShares", "Net Flows ($,M)": "0.00", "AUM ($,M)": "140.78", "% of AUM": "0.00%", "YTD 2019 Net Flows($,M)": "3.70"}, {"Brand": "TrimTabs", "Net Flows ($,M)": "-2.75", "AUM ($,M)": "133.73", "% of AUM": "-2.06%", "YTD 2019 Net Flows($,M)": "-8.40"}, {"Brand": "Perth Mint", "Net Flows ($,M)": "15.47", "AUM ($,M)": "132.33", "% of AUM": "11.69%", "YTD 2019 Net Flows($,M)": "32.87"}, {"Brand": "Knowledge Leaders Capital", "Net Flows ($,M)": "0.00", "AUM ($,M)": "127.80", "% of AUM": "0.00%", "YTD 2019 Net Flows($,M)": "-24.22"}, {"Brand": "Aware", "Net Flows ($,M)": "3.78", "AUM ($,M)": "127.31", "% of AUM": "2.97%", "YTD 2019 Net Flows($,M)": "126.70"}, {"Brand": "Deutsche X-trackers", "Net Flows ($,M)": "-0.85", "AUM ($,M)": "124.72", "% of AUM": "-0.68%", "YTD 2019 Net 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"% of AUM": "-86.06%", "YTD 2019 Net Flows($,M)": "-5.27"}, {"Brand": "Affinity", "Net Flows ($,M)": "0.00", "AUM ($,M)": "4.46", "% of AUM": "0.00%", "YTD 2019 Net Flows($,M)": "-1.13"}, {"Brand": "Breakwave", "Net Flows ($,M)": "0.00", "AUM ($,M)": "4.23", "% of AUM": "0.00%", "YTD 2019 Net Flows($,M)": "1.80"}, {"Brand": "BMO", "Net Flows ($,M)": "1.44", "AUM ($,M)": "3.99", "% of AUM": "36.10%", "YTD 2019 Net Flows($,M)": "1.50"}, {"Brand": "Rogers", "Net Flows ($,M)": "0.00", "AUM ($,M)": "3.78", "% of AUM": "0.00%", "YTD 2019 Net Flows($,M)": "-1.19"}, {"Brand": "EquBot", "Net Flows ($,M)": "0.00", "AUM ($,M)": "3.77", "% of AUM": "0.00%", "YTD 2019 Net Flows($,M)": "0.00"}, {"Brand": "TriLine Index Solutions", "Net Flows ($,M)": "0.00", "AUM ($,M)": "3.27", "% of AUM": "0.00%", "YTD 2019 Net Flows($,M)": "-1.10"}, {"Brand": "Roundhill", "Net Flows ($,M)": "3.02", "AUM ($,M)": "3.11", "% of AUM": "96.90%", "YTD 2019 Net Flows($,M)": "3.02"}, {"Brand": "InsightShares", "Net Flows ($,M)": "-1.34", "AUM ($,M)": "2.63", "% of AUM": "-51.13%", "YTD 2019 Net Flows($,M)": "-48.85"}, {"Brand": "Ideanomics", "Net Flows ($,M)": "0.50", "AUM ($,M)": "1.50", "% of AUM": "33.04%", "YTD 2019 Net Flows($,M)": "0.50"}, {"Brand": "Volshares", "Net Flows ($,M)": "0.00", "AUM ($,M)": "1.43", "% of AUM": "0.00%", "YTD 2019 Net Flows($,M)": "0.70"}, {"Brand": "ELEMENTS", "Net Flows ($,M)": "0.00", "AUM ($,M)": "0.00", "% of AUM": "0.00%", "YTD 2019 Net Flows($,M)": "0.00"}] June 2019 ETF Issuer League Table [{"Issuer": "Blackrock", "Net Flows ($,M)": "34,441.50", "AUM ($,M)": "1,563,026.40", "% of AUM": "2.20%", "YTD 2019 Net Flows($,M)": "59,068.85"}, {"Issuer": "Vanguard", "Net Flows ($,M)": "10,231.27", "AUM ($,M)": "1,011,102.03", "% of AUM": "1.01%", "YTD 2019 Net Flows($,M)": "40,256.45"}, {"Issuer": "State Street Global Advisors", "Net Flows ($,M)": "13,083.50", "AUM ($,M)": "641,141.46", "% of AUM": "2.04%", "YTD 2019 Net Flows($,M)": "-9,576.86"}, {"Issuer": "Invesco", "Net Flows ($,M)": "3,152.80", "AUM ($,M)": "203,586.05", "% of AUM": "1.55%", "YTD 2019 Net Flows($,M)": "6,007.37"}, {"Issuer": "Charles Schwab", "Net Flows ($,M)": "1,924.40", "AUM ($,M)": "142,817.30", "% of AUM": "1.35%", "YTD 2019 Net Flows($,M)": "12,317.24"}, {"Issuer": "First Trust", "Net Flows ($,M)": "1,072.33", "AUM ($,M)": "75,739.08", "% of AUM": "1.42%", "YTD 2019 Net Flows($,M)": "5,869.30"}, {"Issuer": "WisdomTree", "Net Flows ($,M)": "-75.26", "AUM ($,M)": "38,785.70", "% of AUM": "-0.19%", "YTD 2019 Net Flows($,M)": "-75.16"}, {"Issuer": "VanEck", "Net Flows ($,M)": "-922.46", "AUM ($,M)": "37,010.31", "% of AUM": "-2.49%", "YTD 2019 Net Flows($,M)": "-1,804.10"}, {"Issuer": "ProShares", "Net Flows ($,M)": "-167.54", "AUM ($,M)": "31,147.84", "% of AUM": "-0.54%", "YTD 2019 Net Flows($,M)": "1,293.44"}, {"Issuer": "JPMorgan", "Net Flows ($,M)": "198.25", "AUM ($,M)": "28,430.97", "% of AUM": "0.70%", "YTD 2019 Net Flows($,M)": "6,373.01"}, {"Issuer": "Allianz", "Net Flows ($,M)": "433.14", "AUM ($,M)": "19,354.80", "% of AUM": "2.24%", "YTD 2019 Net Flows($,M)": "565.86"}, {"Issuer": "Northern Trust", "Net Flows ($,M)": "91.64", "AUM ($,M)": "15,736.27", "% of AUM": "0.58%", "YTD 2019 Net Flows($,M)": "10.82"}, {"Issuer": "Fidelity", "Net Flows ($,M)": "104.28", "AUM ($,M)": "13,834.59", "% of AUM": "0.75%", "YTD 2019 Net Flows($,M)": "1,329.59"}, {"Issuer": "Deutsche Bank", "Net Flows ($,M)": "-149.68", "AUM ($,M)": "13,796.63", "% of AUM": "-1.08%", "YTD 2019 Net Flows($,M)": "1,469.79"}, {"Issuer": "Rafferty Asset Management", "Net Flows ($,M)": "-1,013.65", "AUM ($,M)": "12,989.36", "% of AUM": "-7.80%", "YTD 2019 Net Flows($,M)": "-1,604.78"}, {"Issuer": "Goldman Sachs", "Net Flows ($,M)": "17.06", "AUM ($,M)": "12,536.82", "% of AUM": "0.14%", "YTD 2019 Net Flows($,M)": "1,331.89"}, {"Issuer": "SS&C", "Net Flows ($,M)": "-57.02", "AUM ($,M)": "12,248.24", "% of AUM": "-0.47%", "YTD 2019 Net Flows($,M)": "-891.31"}, {"Issuer": "Mirae Asset 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York Life", "Net Flows ($,M)": "-186.01", "AUM ($,M)": "3,526.55", "% of AUM": "-5.27%", "YTD 2019 Net Flows($,M)": "-757.02"}, {"Issuer": "Hartford", "Net Flows ($,M)": "120.70", "AUM ($,M)": "3,517.96", "% of AUM": "3.43%", "YTD 2019 Net Flows($,M)": "913.70"}, {"Issuer": "The Principal Financial Group", "Net Flows ($,M)": "-183.81", "AUM ($,M)": "3,214.18", "% of AUM": "-5.72%", "YTD 2019 Net Flows($,M)": "-197.04"}, {"Issuer": "Victory Capital Management", "Net Flows ($,M)": "-64.22", "AUM ($,M)": "3,067.28", "% of AUM": "-2.09%", "YTD 2019 Net Flows($,M)": "-179.98"}, {"Issuer": "Exchange Traded Concepts", "Net Flows ($,M)": "-2.73", "AUM ($,M)": "2,923.94", "% of AUM": "-0.09%", "YTD 2019 Net Flows($,M)": "-5.82"}, {"Issuer": "ARK", "Net Flows ($,M)": "-44.32", "AUM ($,M)": "2,811.52", "% of AUM": "-1.58%", "YTD 2019 Net Flows($,M)": "411.37"}, {"Issuer": "Franklin Templeton Investments", "Net Flows ($,M)": "104.19", "AUM ($,M)": "2,708.06", "% of AUM": "3.85%", "YTD 2019 Net Flows($,M)": "905.30"}, {"Issuer": "Aberdeen Asset Management", "Net Flows ($,M)": "47.71", "AUM ($,M)": "2,600.48", "% of AUM": "1.83%", "YTD 2019 Net Flows($,M)": "10.69"}, {"Issuer": "KraneShares", "Net Flows ($,M)": "32.03", "AUM ($,M)": "2,440.82", "% of AUM": "1.31%", "YTD 2019 Net Flows($,M)": "121.04"}, {"Issuer": "US Commodity Funds", "Net Flows ($,M)": "85.36", "AUM ($,M)": "2,406.41", "% of AUM": "3.55%", "YTD 2019 Net Flows($,M)": "-453.91"}, {"Issuer": "Vident Advisory", "Net Flows ($,M)": "6.52", "AUM ($,M)": "1,693.85", "% of AUM": "0.38%", "YTD 2019 Net Flows($,M)": "59.66"}, {"Issuer": "Innovator Capital Management", "Net Flows ($,M)": "119.86", "AUM ($,M)": "1,548.30", "% of AUM": "7.74%", "YTD 2019 Net Flows($,M)": "694.31"}, {"Issuer": "USAA Asset Management", "Net Flows ($,M)": "39.16", "AUM ($,M)": "1,415.12", "% of AUM": "2.77%", "YTD 2019 Net Flows($,M)": "198.22"}, {"Issuer": "Northern Lights", "Net Flows ($,M)": "12.93", "AUM ($,M)": "1,379.34", "% of AUM": "0.94%", "YTD 2019 Net Flows($,M)": "252.44"}, {"Issuer": "Janus Henderson", "Net Flows ($,M)": "56.63", "AUM ($,M)": "1,177.84", "% of AUM": "4.81%", "YTD 2019 Net Flows($,M)": "159.05"}, {"Issuer": "Legg Mason", "Net Flows ($,M)": "27.17", "AUM ($,M)": "1,084.20", "% of AUM": "2.51%", "YTD 2019 Net Flows($,M)": "205.59"}, {"Issuer": "Virtus", "Net Flows ($,M)": "20.34", "AUM ($,M)": "1,065.52", "% of AUM": "1.91%", "YTD 2019 Net Flows($,M)": "359.91"}, {"Issuer": "CitiGroup", "Net Flows ($,M)": "42.58", "AUM ($,M)": "845.13", "% of AUM": "5.04%", "YTD 2019 Net Flows($,M)": "-161.95"}, {"Issuer": "Transamerica", "Net Flows ($,M)": "0.00", "AUM ($,M)": "794.68", "% of AUM": "0.00%", "YTD 2019 Net Flows($,M)": "-7.95"}, {"Issuer": "Cambria", "Net Flows ($,M)": "-4.58", "AUM ($,M)": "711.90", "% of AUM": "-0.64%", "YTD 2019 Net Flows($,M)": "50.75"}, {"Issuer": "Davis", "Net Flows ($,M)": "14.04", "AUM ($,M)": "683.90", "% of AUM": "2.05%", "YTD 2019 Net Flows($,M)": "60.59"}, {"Issuer": "Nuveen", "Net Flows ($,M)": "-131.15", "AUM ($,M)": "672.10", "% of AUM": "-19.51%", "YTD 2019 Net Flows($,M)": "55.29"}, {"Issuer": "O\u2019Shares Investment Advisers", "Net Flows ($,M)": "15.61", "AUM ($,M)": "666.09", "% of AUM": "2.34%", "YTD 2019 Net Flows($,M)": "17.75"}, {"Issuer": "BMO", "Net Flows ($,M)": "1.44", "AUM ($,M)": "643.64", "% of AUM": "0.22%", "YTD 2019 Net Flows($,M)": "-16.28"}, {"Issuer": "AdvisorShares", "Net Flows ($,M)": "1.32", "AUM ($,M)": "640.98", "% of AUM": "0.21%", "YTD 2019 Net Flows($,M)": "21.33"}, {"Issuer": "GraniteShares", "Net Flows ($,M)": "6.92", "AUM ($,M)": "628.50", "% of AUM": "1.10%", "YTD 2019 Net Flows($,M)": "198.35"}, {"Issuer": "Millington Securities Inc", "Net Flows ($,M)": "32.42", "AUM ($,M)": "623.10", "% of AUM": "5.20%", "YTD 2019 Net Flows($,M)": "70.49"}, {"Issuer": "Columbia", "Net Flows ($,M)": "-3.37", "AUM ($,M)": "564.53", "% of AUM": "-0.60%", "YTD 2019 Net Flows($,M)": "-19.03"}, {"Issuer": "Amplify", "Net Flows ($,M)": "2.32", "AUM ($,M)": "520.69", "% of AUM": "0.45%", "YTD 2019 Net Flows($,M)": "-41.27"}, {"Issuer": "PGIM Investments", "Net Flows ($,M)": "61.38", "AUM ($,M)": "493.45", "% of AUM": "12.44%", "YTD 2019 Net Flows($,M)": "217.37"}, {"Issuer": "Alpha Architect", "Net Flows ($,M)": "-15.41", "AUM ($,M)": "387.27", "% of AUM": "-3.98%", "YTD 2019 Net Flows($,M)": "-22.33"}, {"Issuer": "Nationwide Fund Advisors", "Net Flows ($,M)": "0.01", "AUM ($,M)": "362.81", "% of AUM": "0.00%", "YTD 2019 Net Flows($,M)": "-3.25"}, {"Issuer": "Montage Managers", "Net Flows ($,M)": "2.42", "AUM ($,M)": "354.78", "% of AUM": "0.68%", "YTD 2019 Net Flows($,M)": "18.92"}, {"Issuer": "Highland Capital Management", "Net Flows ($,M)": "-17.72", "AUM ($,M)": "263.04", "% of AUM": "-6.74%", "YTD 2019 Net Flows($,M)": "-120.48"}, {"Issuer": "Aptus Capital Advisors", "Net Flows ($,M)": "-6.57", "AUM ($,M)": "261.17", "% of AUM": "-2.52%", "YTD 2019 Net Flows($,M)": "34.87"}, {"Issuer": "The RBB Fund", "Net Flows ($,M)": "-1.72", "AUM ($,M)": "257.64", "% of AUM": "-0.67%", "YTD 2019 Net Flows($,M)": "40.29"}, {"Issuer": "Strategy Shares", "Net Flows ($,M)": "-43.62", "AUM ($,M)": "213.67", "% of AUM": "-20.42%", "YTD 2019 Net Flows($,M)": "-69.90"}, {"Issuer": "Teucrium", "Net Flows ($,M)": "19.21", "AUM ($,M)": "204.18", "% of AUM": "9.41%", "YTD 2019 Net Flows($,M)": "48.32"}, {"Issuer": "Reality Shares", "Net Flows ($,M)": "-2.36", "AUM ($,M)": "198.19", "% of AUM": "-1.19%", "YTD 2019 Net Flows($,M)": "-28.87"}, {"Issuer": "Merk", "Net Flows ($,M)": "0.05", "AUM ($,M)": "157.83", "% of AUM": "0.03%", "YTD 2019 Net Flows($,M)": "0.95"}, {"Issuer": "American Century", "Net Flows ($,M)": "22.66", "AUM ($,M)": "157.03", "% of AUM": "14.43%", "YTD 2019 Net Flows($,M)": "69.13"}, {"Issuer": "Arrow Investment Advisors", "Net Flows ($,M)": "3.90", "AUM ($,M)": "148.85", "% of AUM": "2.62%", "YTD 2019 Net Flows($,M)": "-16.17"}, {"Issuer": "ClearShares", "Net Flows ($,M)": "0.00", "AUM ($,M)": "140.78", "% of AUM": "0.00%", "YTD 2019 Net Flows($,M)": "3.70"}, {"Issuer": "TrimTabs Asset Management", "Net Flows ($,M)": "-2.75", "AUM ($,M)": "133.73", "% of AUM": "-2.06%", "YTD 2019 Net Flows($,M)": "-8.40"}, {"Issuer": "Aware Asset Management", "Net Flows ($,M)": "3.78", "AUM ($,M)": "127.31", "% of AUM": "2.97%", "YTD 2019 Net Flows($,M)": "126.70"}, {"Issuer": "Timothy Partners Ltd.", "Net Flows ($,M)": "6.16", "AUM ($,M)": "116.94", "% of AUM": "5.27%", "YTD 2019 Net Flows($,M)": "111.34"}, {"Issuer": "Defiance ETFs", "Net Flows ($,M)": "11.80", "AUM ($,M)": "99.00", "% of AUM": "11.92%", "YTD 2019 Net Flows($,M)": "98.65"}, {"Issuer": "EntrepreneurShares, LLC", "Net Flows ($,M)": "3.27", "AUM ($,M)": "98.89", "% of AUM": "3.30%", "YTD 2019 Net Flows($,M)": "21.65"}, {"Issuer": "Invesco Ltd.", "Net Flows ($,M)": "28.26", "AUM ($,M)": "91.83", "% of AUM": "30.78%", "YTD 2019 Net Flows($,M)": "-15.08"}, {"Issuer": "Redwood Investment Management", "Net Flows ($,M)": "20.78", "AUM ($,M)": "83.95", "% of AUM": "24.76%", "YTD 2019 Net Flows($,M)": "27.76"}, {"Issuer": "US Global Investors", "Net Flows ($,M)": "-6.12", "AUM ($,M)": "83.61", "% of AUM": "-7.32%", "YTD 2019 Net Flows($,M)": "-22.79"}, {"Issuer": "FQF Trust", "Net Flows ($,M)": "-2.70", "AUM ($,M)": "81.13", "% of AUM": "-3.32%", "YTD 2019 Net Flows($,M)": "28.30"}, {"Issuer": "Exponential ETFs", "Net Flows ($,M)": "0.83", "AUM ($,M)": "80.86", "% of AUM": "1.03%", "YTD 2019 Net Flows($,M)": "7.67"}, {"Issuer": "Belpointe Financial Holdings LLC", "Net Flows ($,M)": "76.72", "AUM ($,M)": "78.98", "% of AUM": "97.14%", "YTD 2019 Net Flows($,M)": "76.72"}, {"Issuer": "Tidal ETF Services", "Net Flows ($,M)": "9.68", "AUM ($,M)": "65.52", "% of AUM": "14.78%", "YTD 2019 Net Flows($,M)": "65.04"}, {"Issuer": "Renaissance Capital", "Net Flows ($,M)": "12.43", "AUM ($,M)": "53.81", "% of AUM": "23.10%", "YTD 2019 Net Flows($,M)": "32.16"}, {"Issuer": "Natixis", "Net Flows ($,M)": "0.00", "AUM ($,M)": "53.77", "% of AUM": "0.00%", "YTD 2019 Net Flows($,M)": "2.01"}, {"Issuer": "Syntax", "Net Flows ($,M)": "2.28", "AUM ($,M)": "50.54", "% of AUM": "4.51%", "YTD 2019 Net Flows($,M)": "43.06"}, {"Issuer": "Metaurus Advisors", "Net Flows ($,M)": "29.11", "AUM ($,M)": "48.03", "% of AUM": "60.61%", "YTD 2019 Net Flows($,M)": "28.52"}, {"Issuer": "OBP Capital LLC", "Net Flows ($,M)": "0.00", "AUM ($,M)": "45.44", "% of AUM": "0.00%", "YTD 2019 Net Flows($,M)": "1.22"}, {"Issuer": "Gadsden", "Net Flows ($,M)": "0.61", "AUM ($,M)": "45.29", "% of AUM": "1.36%", "YTD 2019 Net Flows($,M)": "23.64"}, {"Issuer": "RYZZ Capital Management", "Net Flows ($,M)": "0.00", "AUM ($,M)": "44.74", "% of AUM": "0.00%", "YTD 2019 Net Flows($,M)": "46.25"}, {"Issuer": "Premise Capital", "Net Flows ($,M)": "0.00", "AUM ($,M)": "41.31", "% of AUM": "0.00%", "YTD 2019 Net Flows($,M)": "5.94"}, {"Issuer": "Distillate Capital Partners", "Net Flows ($,M)": "2.67", "AUM ($,M)": "40.67", "% of AUM": "6.56%", "YTD 2019 Net Flows($,M)": "19.70"}, {"Issuer": "Advisors Asset Management", "Net Flows ($,M)": "0.00", "AUM ($,M)": "39.58", "% of AUM": "0.00%", "YTD 2019 Net Flows($,M)": "14.79"}, {"Issuer": "Cboe Vest Financial", "Net Flows ($,M)": "0.00", "AUM ($,M)": "33.17", "% of AUM": "0.00%", "YTD 2019 Net Flows($,M)": "8.45"}, {"Issuer": "Pacific Global ETF", "Net Flows ($,M)": "0.00", "AUM ($,M)": "31.31", "% of AUM": "0.00%", "YTD 2019 Net Flows($,M)": "30.64"}, {"Issuer": "AlphaMark Advisors", "Net Flows ($,M)": "-1.15", "AUM ($,M)": "22.29", "% of AUM": "-5.17%", "YTD 2019 Net Flows($,M)": "-1.15"}, {"Issuer": "Validea Capital Management", "Net Flows ($,M)": "0.00", "AUM ($,M)": "21.99", "% of AUM": "0.00%", "YTD 2019 Net Flows($,M)": "-1.32"}, {"Issuer": "Morgan Stanley", "Net Flows ($,M)": "-0.02", "AUM ($,M)": "21.22", "% of AUM": "-0.10%", "YTD 2019 Net Flows($,M)": "-2.28"}, {"Issuer": "Active Weighting Advisors", "Net Flows ($,M)": "-0.53", "AUM ($,M)": "18.41", "% of AUM": "-2.89%", "YTD 2019 Net Flows($,M)": "-1.56"}, {"Issuer": "Salt Financial", "Net Flows ($,M)": "2.53", "AUM ($,M)": "17.97", "% of AUM": "14.09%", "YTD 2019 Net Flows($,M)": "7.51"}, {"Issuer": "Sage Advisory Services", "Net Flows ($,M)": "0.00", "AUM ($,M)": "17.70", "% of AUM": "0.00%", "YTD 2019 Net Flows($,M)": "2.49"}, {"Issuer": "Point Bridge Capital", "Net Flows ($,M)": "0.00", "AUM ($,M)": "16.29", "% of AUM": "0.00%", "YTD 2019 Net Flows($,M)": "-19.19"}, {"Issuer": "iM Global Partner", "Net Flows ($,M)": "0.02", "AUM ($,M)": "15.32", "% of AUM": "0.12%", "YTD 2019 Net Flows($,M)": "15.02"}, {"Issuer": "CSOP", "Net Flows ($,M)": "0.00", "AUM ($,M)": "12.79", "% of AUM": "0.00%", "YTD 2019 Net Flows($,M)": "-1.61"}, {"Issuer": "M-CAM International LLC", "Net Flows ($,M)": "4.04", "AUM ($,M)": "12.13", "% of AUM": "33.33%", "YTD 2019 Net Flows($,M)": "4.04"}, {"Issuer": "SL Advisors", "Net Flows ($,M)": "0.00", "AUM ($,M)": "10.78", "% of AUM": "0.00%", "YTD 2019 Net Flows($,M)": "0.91"}, {"Issuer": "ProcureAM", "Net Flows ($,M)": "1.94", "AUM ($,M)": "8.46", "% of AUM": "22.90%", "YTD 2019 Net Flows($,M)": "8.36"}, {"Issuer": "TigerShares", "Net Flows ($,M)": "0.00", "AUM ($,M)": "8.35", "% of AUM": "0.01%", "YTD 2019 Net Flows($,M)": "1.32"}, {"Issuer": "StrongVest", "Net Flows ($,M)": "0.00", "AUM ($,M)": "7.80", "% of AUM": "0.00%", "YTD 2019 Net Flows($,M)": "-1.25"}, {"Issuer": "Change Finance", "Net Flows ($,M)": "0.00", "AUM ($,M)": "7.46", "% of AUM": "0.03%", "YTD 2019 Net Flows($,M)": "2.08"}, {"Issuer": "Impact Shares", "Net Flows ($,M)": "0.00", "AUM ($,M)": "7.34", "% of AUM": "0.02%", "YTD 2019 Net Flows($,M)": "0.95"}, {"Issuer": "Acquirers Funds LLC", "Net Flows ($,M)": "1.84", "AUM ($,M)": "6.89", "% of AUM": "26.72%", "YTD 2019 Net Flows($,M)": "4.36"}, {"Issuer": "USCF Advisers", "Net Flows ($,M)": "0.00", "AUM ($,M)": "6.53", "% of AUM": "0.00%", "YTD 2019 Net Flows($,M)": "-0.88"}, {"Issuer": "Little Harbor Advisors", "Net Flows ($,M)": "0.00", "AUM ($,M)": "5.96", "% of AUM": "0.00%", "YTD 2019 Net Flows($,M)": "-0.56"}, {"Issuer": "Hoya Capital Real Estate", "Net Flows ($,M)": "0.00", "AUM ($,M)": "5.23", "% of AUM": "0.00%", "YTD 2019 Net Flows($,M)": "5.07"}, {"Issuer": "Cushing", "Net Flows ($,M)": "-4.04", "AUM ($,M)": "4.70", "% of AUM": "-86.06%", "YTD 2019 Net Flows($,M)": "-5.27"}, {"Issuer": "Regents Park Funds", "Net Flows ($,M)": "0.00", "AUM ($,M)": "4.46", "% of AUM": "0.00%", "YTD 2019 Net Flows($,M)": "-1.13"}, {"Issuer": "EquBot", "Net Flows ($,M)": "0.00", "AUM ($,M)": "3.77", "% of AUM": "0.00%", "YTD 2019 Net Flows($,M)": "0.00"}, {"Issuer": "TriLine Index Solutions", "Net Flows ($,M)": "0.00", "AUM ($,M)": "3.27", "% of AUM": "0.00%", "YTD 2019 Net Flows($,M)": "-1.10"}, {"Issuer": "Roundhill Financial Inc.", "Net Flows ($,M)": "3.02", "AUM ($,M)": "3.11", "% of AUM": "96.90%", "YTD 2019 Net Flows($,M)": "3.02"}, {"Issuer": "Cottonwood ETF Holdings LLC", "Net Flows ($,M)": "2.43", "AUM ($,M)": "2.44", "% of AUM": "99.67%", "YTD 2019 Net Flows($,M)": "2.43"}, {"Issuer": "Whitford Asset Management", "Net Flows ($,M)": "0.00", "AUM ($,M)": "1.43", "% of AUM": "0.00%", "YTD 2019 Net Flows($,M)": "0.70"}, {"Issuer": "Swedish Export Credit", "Net Flows ($,M)": "0.00", "AUM ($,M)": "0.00", "% of AUM": "0.00%", "YTD 2019 Net Flows($,M)": "0.00"}] Disclaimer: All data as of 6 a.m. Eastern time the date the article is published. Data is believed to be accurate; however, transient market data is often subject to subsequent revision and correction by the exchanges. Recommended Stories • Hot Reads: Bond ETFs In Steepest Rally Since 2011 • ETFs With The Most Liquid Options • Hot Reads: Top 5 Questions About ETFs • 1st August ETF Closures Final Permalink| © Copyright 2019ETF.com.All rights reserved
Podcasts From Lesley Arfin & Margaret Cho Lead Debut Slate Of Earios, Network Co-Founded By Former WME Comedy Agent Priyanka Mattoo Click here to read the full article. Podcasts from talent including Love creator Lesley Arfin , Margaret Cho , Glow’s Kimmy Gatewood and The Good Place’s Rebecca Delgado form the inaugural slate for female-focused podcast network Earios . Earios was set up by former UTA and WME comedy agent Priyanka Mattoo , who also ran Electric Dynamite with Jack Black, Maria Blasucci , star of HBO’s Family Tree and Amanda Lund , who has appeared on series including Fresh Off The Boat and New Girl. Related stories Amanda De Cadenet Adapts Her Lifetime Talkshow 'The Conversation' Into Podcast For Spotify Jill Soloway, Margaret Cho, Alia Shawkat And More Talk Shift In LGBTQ+ Representation In Hollywood At YEA Event 'Atlanta Monster' Producer Tenderfoot TV Lines Up True Crime Podcast Series 'Insomniac' Last year, the company successfully raised money through a Kickstarter campaign and secured enough to launch 12 shows this year. It has also partnered with podcast company Acast to launch the slate, which will launch three shows at the start of July and will run new shows every couple of weeks. It is designed to produce female-fronted podcasts after Lund and Blasucci, who previously hosted their own independent shows, failed to find podcast companies run by women even though over 30% of shows are hosted or co-hosted by women and women make up half of podcast listeners. Full details of shows below. “It was important to us to find a partner like Acast who also believes in bringing female voices to the forefront,” said Mattoo. “They’re as excited about the slate as we are – and they’ve been our greatest champions.” “All the podcasts I listen to are spread out among some awesome networks, but there wasn’t one that really spoke to Maria’s or my sensibilities and that felt like we were part of that community,” said Lund. “Maria and I also have spent years being beholden to gatekeepers as actors and writers. We knew that we had to carve out a space for ourselves and our fellow amazing women creators as we noticed podcasting becoming more like film and TV so creating Earios scratches this itch.” Story continues “Nearly all of the networks that host, develop and promote popular shows are run by men. So, a lot of content pitched by women is not bought or promoted. We wanted to make it easier for women to share their ideas with a like-minded community,” added Mattoo. “I have to admit that, while I love working with Amanda and Maria, and I love to help women achieve their creative dreams, the baby girl in my belly played no small part. I felt compelled to make this happen, for her.” Earios Slate: Filling the Void hosted by Lesley Arfin, creator of Netflix series Love , talks to her eclectic group of friends about the things they do for pure, simple joy. Did you know Diablo Cody is a roller coaster fanatic? Or that Kate Berlant is obsessed with making sourdough bread? You might call these hobbies – Lesley calls them filling the void. Foxy Browns hosted by Camilla Blackett and Mattoo. Mattoo and Camilla Blackett ( New Girl ) will explore what beauty and wellness means from their perspectives as women of color and immigrants. Some days they’re ranking eye creams, others they’re deconstructing Western beauty standards. Web Crawlers hosted by Melissa Stetten & Ali Segel. Social Media stars Melissa Stetten and Ali Segel go down an internet rabbit hole to explore the strange and mysterious world of the dark web. From hauntings to murders to unexplainable disappearances, these internet sleuths will leave no message board unread. The Big Ones hosted by Blasucci and Lund, who discuss life’s biggest moral dilemmas. The questions can be complicated but they’re always fun to discuss because they force you to look deep, inside yourself. Will you like what you see? The Margaret Cho . Each week comedy icon Cho interviews one celebrity you know and love, and one person she believes is the next big thing. Pleasure Studies . In this impressionistic podcast that accompanies her upcoming album and tour, indie pop darling Feist strings together interviews with professional athletes, new mothers, artists, and even polyamorous pornography performers wherein they examine facets of modern life. This podcast dares us to ask larger questions about how we overcome loss, define partnerships and let go of pain. Mother of All Shows. Hosted by actor/director Kimmy Gatewood ( Glow ), this hybrid of investigative journalism, comedy, and thought-provoking interviews will shine a light on what it’s like to be a modern parent. From breastfeeding to work-life balance, this podcast will educate, challenge, and entertain you. The Alarmist. Actor/writer Rebecca Delgado ( The Good Place ) sits down with a guest to analyze and scrutinize history’s greatest disasters, from the sinking of the Titanic to the break-up of The Beatles, to find out what went wrong and who is to blame. (It wasn’t Yoko.) Sex for Money. You know Aasha Davis from hit shows like Friday Night Lights and Drunk History, but what you don’t know is that she loves to talk about sex. Aasha hosts this fun and lighthearted game show centered around demystifying our sexual experiences. Each week two contestants play educational yet ridiculous games in hopes of winning a cash prize. Spermcast . Actor, writer, and comedian, Molly Hawkey wants a baby. The only problem is she’s 39, single, and not exactly ready for motherhood. So she’s on a quest – a quest for a sperm donor, and a quest for some personal growth. Each week you’ll hear interviews with potential donors, but she’ll also seek guidance from the pros: doctors, financial advisors, tarot card readers…whatever it takes. By the end of this series, if all goes according to plan, she’ll find her donor and inseminate herself. We Need to Talk about Britney . What does it mean to be famous? What about Britney Spears famous? Do you find yourself comparing each moment of your own life to each moment of Britney’s life? Because even if you’ve never shaved your own head while the paparazzi watched from the barbershop window, we’ve all been there. Join writer and actress, Jen Zaborowski as she sits down with guests to break down Britney’s life and works all while trying to figure out why Jen’s so obsessed with Britney Spears. Sometimes we just need to talk about Britney. The Complete Christmas. Amanda Lund brings 1960’s love and marriage expert Marabel May to life in the highly-produced audio fiction series, The Complete Woman. This Christmas, Marabel May is back to enforce her suffocating rules of conduct on your holiday celebration. As if you weren’t on the verge of a breakdown already. Sign up for Deadline's Newsletter . For the latest news, follow us on Facebook , Twitter , and Instagram .
Bitcoin, Facebook and the End of 20th Century Money Michael J. Casey is the chairman of CoinDesk’s advisory board and a senior advisor for blockchain research at MIT’s Digital Currency Initiative. The following article originally appeared inCoinDesk Weekly, a custom-curated newsletter delivered every Sunday exclusively to our subscribers. There is never a dull moment in the world of blockchains and cryptocurrencies. Related:Bitcoin’s ‘Kimchi Premium’ Returns With $1K Price Spreads on Crypto Exchanges The two earth-shattering stories of the past two weeks – thelaunch of the Libra projectand thewild swings in the bitcoin market– might seem like unrelated topics. And, for the most part, the causal impact of the former on the latter is probably not much greater than that of another oft-noted bitcoin price correlation:the avocado chart. However, the coincidence of these two developments does speak to how globally impactful Satoshi Nakamoto’s invention has now become. From that wider perspective, these two developments are not at all unrelated. Indeed, they both capture elements of a massive, worldwide financial transformation, all happening at a time of growing economic uncertainty. Whether now or in the future, I believe the arrival of Libra, far from being a competitive threat, will be extremely supportive of bitcoin. Related:Russia Won’t Ban Facebook’s Libra Currency, Deputy Finance Minister Says Not only will the looming international debate over Libra elevate the conversation around cryptocurrencies and so draw more people into the most established of them, it also represents a major step toward the kind of world in which bitcoin should thrive. Whether or not Libra succeeds, it confirms the inescapable reality that international money movements in the digital era will be based on blockchain-like solutions that disintermediate the existing gatekeepers and challenge the bank-and-sovereign money-dominated model of the 20th century. It also underscores how we are moving into an age of digital assets. And, just as people sought out physical assets to protect their wealth from the vulnerabilities of the analog era’s trust-dependent system – by storing value in gold, for example, or in real estate – they will now seek out similar protection in digital assets with similar properties. Bitcoin is not described as “digital gold” for nothing; it offers a level of censorship resistance and isolation from the politicization of money that the corporate-driven Libra project cannot. I see mainstream global money movements in the next decade or so flowing through a mix of blockchain-era stable-money services that operate along a centralization-to-decentralization spectrum — fromJPMorgan’s JPM Coinand thenew Swift blockchain projectat one end to Libra and more open-standard crypto stablecoin projects such asCENTRE’s USDCat the other. But as those grow in usage, the demand for bitcoin as the digital asset hedge of choice will also grow. So, regardless of whether or not there is a causal relationship, the Libra announcement offers important context for the continued, accelerating demand for bitcoin, the surge of buying that saw it rally from around $7,000 on June 10 to a peak just below $14,000 on Thursday last week. This wider transition in the world’s money paradigm adds a dynamic new variable to what may be a serious global economic downturn. As with previous periods of global economic tensions, the current dicey state of U.S.-China trade relations is directly impacting monetary conditions and policy expectations. But this time it’s happening at a time when cryptocurrencies and blockchains are looking like an alternative vehicle for people to manage the risks they face in this deteriorating environment. The trade war between the U.S. and China has spooked businesses and investors the world over, resulting in a surge of demand for traditional safe-haven assets. A flood of demand into long-dated bonds has driven down their yields and led toan inversion in the U.S. Treasury yieldcurve – a market scenario that Wall Street has traditionally viewed as a harbinger of recession. That, in turn, has stoked expectations of monetary easing by central banks, most likely led by theEuropean Central Bank, whose President, Mario Draghi, last week signaled the strong possibility of stimulus.Recalling the trillions of dollars, euros and yen that were added to the world’s base money levels during the “quantitative easing” era that accompanied and followed the global financial crisis and European debt crisis within the past decade, investors have once again started buying inflation hedges. And this time, it’s not just the traditional version (gold, up almost 10% in June); it’s also the new one (bitcoin, up almost 40%). More specifically, there is talk of capital flight out of China and Hong Kong, a pattern of behavior that naturally boosts interest in bitcoin if not outright demand. China’s balance of payments is showinga very large “errors and omissions” component, traditionally an informal measure of how much renminbi is escaping through unofficial channels to bypass the limits that Beijing imposes on its citizens’ purchases of foreign currency. Almost certainly, this is in part driven by Chinese manufacturers seeking to move their production operations offshore, to places such as Taiwan, to bypass the U.S. tariffs. (Their ability to do so is more evidence of why this is such a harmful, ham-fisted policy by the Trump administration.) But it’s also likely coming from wealthy Chinese businesses and individuals who are simply looking to protect their funds in an uncertain environment, a group that these days includes bitcoin miners. Meanwhile, the massive protests in Hong Kong, stoked by concerns about encroaching judicial oversight by the Chinese mainland, have also stirred talk that the territory’s business class will move funds offshore. The bulk of that flight capital will go into dollars. But if even a small part of it, spooked by the prospects of more quantitative easing from central banks, goes into bitcoin, it can have an outsized impact on the price of the cryptocurrency. Certainly, volumes seen on the more data-reliable crypto exchanges, such as Coinbase’s, have shown surging demand. The wider point, however, is that the new round of global economic uncertainty is occurring at the same time that cryptocurrency and blockchains are establishing themselves as key elements of the emerging financial architecture of the world. In the financial crisis of 2008, nobody other than the small number of names on the cypherpunk mailing list to which Satoshi posted his white paper on Oct. 31 of that year had any idea that this alternative model for the global finance existed. Now cryptocurrencies and blockchain are high of mind among banks, global companies and regulators – with Libra, as I mentioned, playing no small role in elevating the technology’s profile. I hate to say it, but maybe this timeisdifferent. Burning dollars via Shutterstock • Bitcoin Charts Hint At Price Pullback to Below $10K • BIS Chief: Central Banks May Issue Digital Currencies ‘Sooner Than We Think’
Partying Chic With the Zimmermann Sisters Click here to read the full article. CAPRI — Che chic! No better Italian expression — which translates into “how chic” in English — can describe the vibe sisters Nicky and Simone Zimmermann injected into the two-day event the Australian company organized to fete the opening of its Capri store. The program kicked off on Thursday night with a dinner at Capri’s legendary and elegant Il Riccio restaurant, located on the cliffs by the Blu Grotto sea cave and ended on Friday afternoon with an extended lunch under a lemon pergola in the lush garden of the exclusive Villa Bismarck. Related stories From Capri With Love: Fashion, Lifestyle and Sustainability Experts Share Precious Advice Zimmermann Expands Its Resort Business With Boutique in Capri Reputation and Disintermediation Spotlighted at Cosmetica Italia Assembly Both the happenings not only surprised the taste buds with traditional specialties of Caprese cuisine, but also featured sophisticated flower and fruits table arrangements, and hand-painted plates. The Zimmermann sisters’ typical laid-back and friendly attitude took center stage during the events, which drew celebrities including Laura Dern and Katie Holmes . “ I’m putting together my second film called ‘Rare Objects.’ I’m going to direct that and also act in it, so I’m very excited,” said Holmes, who will film the movie, expected to be released next year, in New York City. While Holmes revealed her ideal vacation is spending time with the family, Jessica Hart can’t wait for August to go back for the third time to the music festival Burning Man. Asked if she is already working on the outfits for the event in the Californian desert, she seemed to be in an upcycling mood. “ I still have a lot of the stuff I can reuse from past years,” Hart said. “Actually, I have a storage full of Burning Man stuff, so I just go in when I’m are ready to go.” Hart, who is also the founder of makeup and skin-care brand Luma Beauty, is also working with her sister on creating a blog with wellness ideas that they’ve collected over the years. “It will be based around mindfulness and moving your body, nutrition and just tips all around, beauty tips, beautifying your life. We are working with our team in Australia, that’s been consuming our minds the past couple of month,” she said. Story continues While she continues to work on her Gryph & IvyRose wellness line for children and is also promoting the capsule she designed for Cybex, a German company focused on mobility for children, Karolína Kurková will take a break for work this summer to rediscover life’s simple pleasures. “ I will be taking a little holiday with my family; we have a house in Turkey, so we’ll go there. We have friends that meet us there from all around the world so we go to local markets to buy all the fresh cucumbers, tomatoes, peaches…all the amazing spices and they are just fresh products. We make lunch, make smoothies, and just go to the beach, play games, work out, explore,” said the model-turned-entrepreneur. “And then I’m going to be spending time with my family in the Czech Republic with the boys [Kurková’s children Tobin and Noah Drury]. So we’ll be in my grandma’s house where I used to go when I was a child, cook sausages on open fires on the grass, eating on the grass, we like that and for me it’s cool that my boys get to experience my roots because we live in the U.S., so it’s nice they get to really see their grandmother, who’s 81.” No family trip but a grand 30th birthday party is the plans of Phoebe Tonkin, the Australian actress who starred in “The Originals” and “The Vampire Diaries.” “ I go to Paris next week for a week for couture. I’m going to a show on Monday and then I’m going to go to Saint Tropez and then go back to New York for my 30th birthday party ,” she said. Models Maria Borges, Cindy Bruna and Gemma Ward, singer Pixie Geldof and British socialite Kitty Spencer were also among the guests. Launch Gallery: Inside the Zimmermann Party in Capri Sign up for WWD's Newsletter . For the latest news, follow us on Twitter , Facebook , and Instagram .
Asos x ‘The Lion King’ Collaboration Taps Into Nineties Nostalgia Click here to read the full article. Asos is tapping into the hype for “The Lion King.” The fast-fashion retailer is teaming with Disney to create a capsule collection based on the much-loved movie ahead of its upcoming live-action reboot, which will premiere in theaters on July 19. Related stories Zendaya Wears Spider-Man-Inspired Dress at Los Angeles Premiere Rainbow Collections Make a Splash at Retail Refinery29, Kate Spade Execs Talk Female Film Initiative Read More: How Asos Is Helping ‘Life Is Beautiful’ Diversify Product Beyond the Festival Hitting Nineties nostalgia at its core, the collection leverages original scenes and beloved characters from the 1994 animated version, including images of Simba, Nala, Timon, Pumbaa and Zazu. The pieces also incorporate popular prints from the decade, like tie-dye and animal and tropical patterns. The collection spans women’s wear and men’s — also available in Asos Curve and Asos Plus sizes — and offers pieces like button-up shirts, shorts, T-shirts, sweaters, bodysuits, windbreakers, socks and hats. Standout collection pieces include a matching two-piece set featuring a print of Zazu the toucan and a T-shirt depicting the film ’s famous “Circle of Life” scene, where Simba is introduced to the animal kingdom. The collection ranges in price from $13 to $87. The collaboration with Asos comes after Luminess Cosmetics released its Lion King limited-edition collection created with Beyoncé’s makeup artist, Sir John. The collection’s offerings are for the eye, lip and face categories and features images of the animals in the film on its packaging. Click through the above gallery to see all the looks from the Asos x “The Lion King” collection. Read more here: Montblanc and Bape Team On Accessories Collection Asos Profits Plunge 87 Percent Asos and PVH Corp. Join Global Fashion Agenda as Strategic Partners WATCH: Stonewall and Fashion Pride Launch Gallery: Asos x 'The Lion King' Collection: See All the Photos Sign up for WWD's Newsletter . For the latest news, follow us on Twitter , Facebook , and Instagram . View comments
Bridget Foley’s Diary: LVMH, A Matter of Pride Click here to read the full article. Whatever is the opposite of a beauty junky, I’m it. Fifty options of beige and brown for my face and eyes agitate rather than exhilarate, like the angsty process of distilling a million swatches down to that single perfect shade of white paint. I shop for makeup out of dire need, not for fun. Yet I experienced one of my most memorable shopping moments at a Sephora . Two Christmases ago, on the hunt for a fragrance for a 13-year-old girl, I selected something youthful and headed for checkout. “Would you like it monogrammed?” a woman asked, motioning toward an etching machine. When I said that I didn’t know the girl’s initials, only her first name, Amanda, the woman looked quizzical until I told her that I’d taken the girl’s ornament from an angel tree. Related stories Fashionphile Aims to Play With Luxury's Heavy Hitters EXCLUSIVE: Felipe Oliveira Baptista Takes Over Creative Direction of Kenzo Launchmetrics' Numbers Support Strength of Paris, Italian Men's Fashion Weeks “Let’s do ‘Amanda,’” she said. The no-charge process was tedious (at least to an impatient type), starting with expert removal of the cellophane covering the box, to be restored at the end of the process. The bottle then went under the machine needle, forming each letter deliberately and slowly. With the last curve of the last “a” complete, the woman wasn’t satisfied with the depth of relief. Despite a packed store and a line forming behind me, she retraced the name a second time and a third, ensuring that Amanda would receive at least one perfect Christmas gift. Last week I had the opportunity to sit in on an otherwise closed, in-house session at LVMH Moët Hennessy Louis Vuitton headquarters in New York. The occasion: the signing by the group’s U.S.-based maisons of the U.N. Standards of Conduct for Business, which fights discrimination against LGBTQ people. As reported, the group’s executive committee and European maisons signed the document in March. Story continues So, what’s the Amanda connection? Nothing direct, as far as I know. But early in the program, a brief video was screened. “ Sephora Saved Our Son” tells of how CJ, a boy enamored of makeup and other pretty things, suddenly in fifth grade became a victim of in-school bullying, even by his former best friend. He found a safe haven — friends, a community — at Sephora when he started to attend makeup classes. After the video ran, CJ, now 12, and his parents were introduced. His mother talked about how much finding a place where he can be himself and feel welcomed and respected has meant to CJ. She said the family wants to “give back” to Sephora. To hear a mother invoke those words so personally in reference to the famous global makeup retailer under the umbrella of the mega luxury group owned by the third-richest man in the world startled. I immediately thought of the woman who etched Amanda’s name so painstakingly into the fragrance bottle to make her Christmas gift special. Until that moment, I’d thought of her as a remarkably kindhearted individual, and Sephora, extremely lucky to have her. After hearing CJ’s story, I thought that perhaps she’s a kindhearted individual of a sort sought out by Sephora to live its corporate culture on the selling floor. At a moment when celebrating and marketing toward the LGBTQ community is all the rage, that mental line I drew between CJ and Amanda, and the fact that this wasn’t a press event, dissolved any skepticism I may have had going in about this perhaps being a case of feel-good corporate grandstanding. The event, held in the company’s Magic Room, was the brainchild of Chantal Gaemperle, the group’s executive vice president of human resources and synergies. Anyone inclined to think of h.r. as the corporate manifestation of the Grim Reaper (a lot of people, I think) should spend five minutes with this woman. She sells you on her belief that luxury has a higher purpose than merely pushing expensive merch, and that h.r. is about more than hiring and firing. “That’s the magic of h.r. That’s why I love my job — because you can see sometimes how you can help people grow, how you can help people feel a little bit better, how you can help probably give them an assignment that will match their strengths,” she said during a follow-up conversation. Gaemperle wanted to plan an activity around the U.S. signing of the standards to telegraph the importance of the moment and the message to LVMH ’s employees. “LVMH has derived its success from diverse perspectives. Not only in terms of the different businesses we have, but also the backgrounds of our talents, she said. “You don’t only look at the creative and the ceo.…It’s [all] talent-dependent, and so diversity is the DNA.…If we have a culture in which people feel that they are respected, understood and valued for who they are, and that as an organization we can capitalize on their unique differences — you put that together and you have the recipe for success.” Two hundred employees from presidents to assistants, were invited from the six U.S.-based maisons — Belvedere, Benefit, Fresh, Kendo, Marc Jacobs and Starboard. They took in a compelling, swiftly moving program that opened with a welcome from Anish Melwani, chairman and chief executive officer of LVMH Inc., the group’s North American subsidiary. “In this incredibly polarized [political] context, we all as leaders have an important choice to make,” Melwani said. “But it’s not a choice of left versus right, Democrat or Republican, MAGA or progressive. It’s a choice of the past or the future.” That that future must include a diverse workforce including LGBTQ people who feel free to be themselves was the overriding message, covering not only what LVMH as a group and its maisons are doing, but what they can do going forward. One initiative, by year’s end the group will launch a worldwide training program Unconscious Bias and Inclusive Leadership for all executives and managers. “Employees who feel that they can’t be themselves at work, they won’t fully engage as part of the team.…So advancing diversity and inclusion in the workplace is essential,” Melwani said, laying out four elements essential in fostering workplace inclusion: establishing measurable criteria “because what gets measured gets managed”; training, “because policies do not equal practice”; recruiting, and organizational behaviors. “It’s how we all behave every day at work that will make a difference,” he said. Marc Jacobs then gave the keynote address, infusing the agenda with some humor. Aware that he was speaking to a mostly business-oriented group, he noted that his side and theirs speak different languages. “We creatives are from Earth and corporates are from Mars,” Jacobs said, to a round of laughter. “But it’s all about perspective and the way you look at things. So, we promise not to judge you on your sometimes ill-fitting suits, poor taste in neckties, or uptight sartorial dress. And please don’t judge us on our flamboyant footwear, our piercings, tattoos, and eclectic, eccentric and often ironic good taste. “Of course, I’m joking…” Jacobs continued. “Nothing good has ever come through judging people based on how they look or what they do in the bedroom and who they choose to love.” He said then raised an important issue. Most of the speakers suggested (or perhaps I inferred from their words) that LGBTQ people are or should be “out” in the workplace, or at least, that should be the goal. Jacobs thinks otherwise and said so. “The decision to share that I am gay is my choice. And I am grateful that I have never experienced discrimination based on my openness in the workplace,” he said. “Now more than ever, it is better to ask than assume how people wish to be addressed, what pronouns they use or how they identify. However, no one should ever be required to share private information about their sexual identity and orientation or be discriminated against for it.” Asked about Jacobs’ comment later, Gaemperle said, “I think that when it’s a matter of choice it’s OK, when you are able to say I choose not to. But sometimes you choose not to, not because of your own will but because you are afraid, because you will be rejected, because there will be negative consequences. That’s the difference, and it’s a big difference.” Two panel discussions followed Jacobs’ address. The first, on brand initiatives and partnerships, was introduced by Chris de Lapuente, chairman and ceo of LVMH Perfumes and Cosmetics and Sephora Global, who flew in in the morning to attend, and left that evening. He has reason to feel proud; in terms of outreach to the LGBTQ community, beauty brands are leading the way within LVMH. For the first panel, executives from Sephora and Makeup Forever shared the stage with Gregory Jones, corporate engagement officer at Hetrick-Martin Institute, a New York-based LGBTQ youth services organization. The beauty-dominated panel led moderator Hayden Majajas, the newly arrived (as of May) head of diversity and inclusion, to go “a bit controversial,” he said. “We’re sitting here surrounded by Sephora hearing these amazing stories [and Make Up For Ever]. I’m not seeing Dior here or maybe some other brands. Is it just makeup companies who are doing big things out there?” While the LVMH-ers didn’t answer directly, later, when I posed the question to Gaemperle, she suggested that beauty’s leadership role is born of a long-standing relationship. “Because of the products and the connections to those communities, probably It’s more natural to [the beauty brands],” she said, while noting that awareness and initiatives are intensifying throughout the group. Majajas talked about product-driven programs around Pride, the pluses and minuses, but mostly focused on broader initiatives. Corrie Conrad, Sephora’s vice president of social impact, sustainability, diversity and inclusion, said when developing makeup classes such as those CJ enjoys, “we kind of asked ourselves as we were starting our social impact initiatives how we might use those classes for the greater good of our communities.” One answer: the launch last year of Bold Beauty for the Transgender and Gender Non-Conforming Community. Christina Jefferson, the brand’s manager of diversity and inclusion, helped to create that class, but digressed from its consumer focus to the workforce. “Something that I think we’re really proud of as a company is that we are actually employing these people,” she said. “I think that’s the biggest thing. We can give money, but we also need to give opportunity.” Margaret Robinson, executive director of public relations and influencer marketing at Make Up For Ever, and Jones spoke about a video they did featuring Hetrick-Martin clients in sessions with the brand’s artists. “For our young people to have the opportunity to come and be the face of a campaign, to be in a video for a campaign, is absolutely incredible,” Jones said. “[It] builds so much awareness, and tells a young person who is questioning their identity or coming to a point of discovering and understanding their identity, that, ‘I can do this, too. This is an industry that has always embraced me. These are opportunities that I can continue to pursue because I am loved and because I am enough.’ That speaks volumes.” The second panel, moderated by chief business officer Brendan Coolidge Monaghan, featured LVMH employees who identify as members of the LGBTQ community, sharing parts of their personal stories. None works for a beauty brand. Joshua Udashkin, Rimowa ’s U.S. managing director, recalled hiding his sexuality at his former job as a corporate attorney. In hindsight, he supposes the firm didn’t have draconian codes, but instead, “it was more me who was wrestling with whether or not my identity being a gay man would reconcile with being successful in business.” Not so Nicolas Pic, Tag Heuer ’s vice president of sales for North America, who lived in Dubai with his longtime partner, now husband, for five years while working for L’Oréal. “What was interesting is that we had a good life there, [but] not as an open gay couple,” Pic said. “This is the biggest difference with being here and living in New York City and in the USA today. We had a good life there. It was comfortable, it was secure, but we couldn’t be ourselves. Especially in the corporate world, it was impossible. When you have to deal with clients, with distributors, it’s just impossible. So we have to lie, we have to pretend. [When referring to your spouse] you say ‘she’ and not ‘he.’ It’s tough, it’s tough.” Manny Gonzalez, senior director of cultural diversity at Moët Hennessy, noted the importance of obvious support in the workplace. “Having those people that support…sometimes they may not come from your own family. And so when you can point to friends and colleagues, that makes a huge difference,” he said. Gina Capaz, vice president of business intelligence, also at Moët Hennessy, spoke of finding the love of her life online and adopting a child while working for a different company and living in Florida. The company had no benefit provisions for gay adoption, nor could Capaz list her spouse for insurance coverage. “When you cannot take for granted the things that everybody just automatically gets just because they’re there, you look at the world differently,” she said. Capaz brought the conversation back to the Stonewall anniversary. The rights which LGBTQ people can now experience along with everybody else are “only possible because people 50 years ago came out, said something, at great risk, not just from the police but from their families, which is even more difficult,” she said. “So I want to make sure we take this moment and don’t forget that the reason we’re all here is because there are people that took those risks to speak up and be who they are and take that risk.” The room burst into applause. After that came the signing of the U.N. Standards, introduced by a human rights officer of the organization, Fabrice Houdart, who celebrated LVMH, and everyone cheered. Today is July 1, and Pride month is over. Rainbow flags will be stripped from all those storefronts and corporate headquarters, if they haven’t been already. Company Twitter logos will ditch the multi stripes for their brand color schemes. But, as Capaz noted, the fight for LGBTQ protections must continue — a huge and ongoing process. Specific to the internal nature of this event, Gaemperle said she hopes those 200 employees present, “a drop in the ocean” of LVMH’s overall numbers, share the stories heard and information gleaned. Management, she said, must be “rigorously disciplined. You can’t have an event like this and then not offer the proper practices in our policies for employees. We must be disciplined about making sure that we don’t only sell a nice story and then not execute it in everyday actions.” In the end, it’s right, and it’s smart. “We are always linking those initiatives to business dynamics,” Gaemperle said. “We are not in a nonprofit organization; we are part of the leader in luxury. So this has to translate obviously also into pragmatic, economical benefits for the brands. And it does. Because when you have an inclusive culture you have more motivated people, more talent.…The fact is that it’s pretty logical with who we are.” _______________________ On the other hand: The mind travels. Thoughts of my Sephora shopping moment reminded me of another memorable LVMH sojourn, this one long ago. (The attitude has changed.) Though the opposite of heartwarming, for anyone with a healthy respect for the absurd, it’s a different kind of fabulous. The object of my spring 2002 lust was a Louis Vuitton Marc Jacobs-Julie Verhoeven bag. In Paris for the next round of shows, I felt that very specific twinge of must-have acquisitional fervor when I saw the Louis Vuitton store windows brimming with the bags. I entered and inquired. A woman gave me the once-over and said that right now, the bags were for visual display only, not yet for purchase. And, “When they come in, they’ll be for celebrities. Not for you.” Hand to God. Launch Gallery: Bridget Foley’s Diary: LVMH, A Matter of Pride Sign up for WWD's Newsletter . For the latest news, follow us on Twitter , Facebook , and Instagram .
Is Brembo S.p.A. (BIT:BRE) A Smart Choice For Dividend Investors? Want to participate in ashort research study? Help shape the future of investing tools and you could win a $250 gift card! Is Brembo S.p.A. (BIT:BRE) a good dividend stock? How can we tell? Dividend paying companies with growing earnings can be highly rewarding in the long term. Unfortunately, it's common for investors to be enticed in by the seemingly attractive yield, and lose money when the company has to cut its dividend payments. A slim 2.2% yield is hard to get excited about, but the long payment history is respectable. At the right price, or with strong growth opportunities, Brembo could have potential. When buying stocks for their dividends, you should always run through the checks below, to see if the dividend looks sustainable. Explore this interactive chart for our latest analysis on Brembo! Dividends are usually paid out of company earnings. If a company is paying more than it earns, then the dividend might become unsustainable - hardly an ideal situation. So we need to form a view on if a company's dividend is sustainable, relative to its net profit after tax. Brembo paid out 30% of its profit as dividends, over the trailing twelve month period. This is a middling range that strikes a nice balance between paying dividends to shareholders, and retaining enough earnings to invest in future growth. One of the risks is that management reinvests the retained capital poorly instead of paying a higher dividend. In addition to comparing dividends against profits, we should inspect whether the company generated enough cash to pay its dividend. Unfortunately, while Brembo pays a dividend, it also reported negative free cash flow last year. While there may be a good reason for this, it's not ideal from a dividend perspective. Consider gettingour latest analysis on Brembo's financial position here. From the perspective of an income investor who wants to earn dividends for many years, there is not much point buying a stock if its dividend is regularly cut or is not reliable. For the purpose of this article, we only scrutinise the last decade of Brembo's dividend payments. The dividend has been stable over the past 10 years, which is great. We think this could suggest some resilience to the business and its dividends. During the past ten-year period, the first annual payment was €0.045 in 2009, compared to €0.22 last year. This works out to be a compound annual growth rate (CAGR) of approximately 17% a year over that time. With rapid dividend growth and no notable cuts to the dividend over a lengthy period of time, we think this company has a lot going for it. While dividend payments have been relatively reliable, it would also be nice if earnings per share (EPS) were growing, as this is essential to maintaining the dividend's purchasing power over the long term. Strong earnings per share (EPS) growth might encourage our interest in the company despite fluctuating dividends, which is why it's great to see Brembo has grown its earnings per share at 22% per annum over the past five years. Earnings per share have rocketed in recent times, and we like that the company is retaining more than half of its earnings to reinvest. However, always remember that very few companies can grow at double digit rates forever. To summarise, shareholders should always check that Brembo's dividends are affordable, that its dividend payments are relatively stable, and that it has decent prospects for growing its earnings and dividend. Firstly, the company has a conservative payout ratio, although we'd note that its cashflow in the past year was substantially lower than its reported profit. Next, growing earnings per share and steady dividend payments is a great combination. Overall we think Brembo is an interesting dividend stock, although it could be better. Earnings growth generally bodes well for the future value of company dividend payments. See if the 5 Brembo analysts we track are forecasting continued growth with ourfreereport on analyst estimates for the company. If you are a dividend investor, you might also want to look at ourcurated list of dividend stocks yielding above 3%. 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.
From Capri With Love: Fashion, Lifestyle and Sustainability Experts Share Precious Advice Click here to read the full article. While celebrating with Zimmermann the opening of the brand’s first store in Capri, three eminent guests sat down with WWD to share their five tips for… THE ULTIMATE HOLIDAY WARDROBE Related stories Zimmermann Expands Its Resort Business With Boutique in Capri Partying Chic With the Zimmermann Sisters Reputation and Disintermediation Spotlighted at Cosmetica Italia Assembly “I think there are five essentials that every woman needs to have with her on a summer vacation,” said Roopal Patel , Saks Fifth Avenue fashion director. 1. Obviously if you are going to a beach holiday you need to find the perfect bikini, or bathing suit that works for you. I always like carrying a neutral bathing suit and then a printed bathing suit. 2. It’s great to have one versatile dress that you can wear day to evening, you can wear to the beach, to the beach club, at lunch, but also to go out at night. For example, a printed dress from Zimmermann is perfect, because they have so many great prints to choose from. 3. Definitely you need flats, I think everyone is always stressed about packing high heels on vacation and honestly it is not that chic sometimes. I really love Aquazzura flats, they do a great assortment of metallic whether it’s gold, or silver, they work well with everything, and again day to night. 4. For every holiday you need the perfect beach tote. You need like a great straw bag that you can take around with you everywhere and I think Loewe has some of the bests, with the straw, the little pop of color. 5. And then, I think it’s great to have some beach jewelry. I like to have things that have shells or pearls. Aurelie Bidermann has some great seashell options. THE ULTIMATE SUMMER DINNER PARTY “I always believe that you need to first and foremost establish a palette, if I choose the vision, choose the color palette and beyond that I really believe that you need to look to your immediate surroundings to take inspiration from, both the season, the seascape, the colors out there in nature, I always think that you should really start with what’s surrounding you,” said Athena Calderone , the New York-based author of “Cook Beautiful” who will release her second tome “Live Beautiful” in March. Story continues 1. I think that it’s always widely appreciated to do something for the decor on the table that is unexpected, a little bit thoughtful and maybe with a homemade touch, something personal. 2. I believe that serving a signature cocktail is really important. I do love an Aperol Spritz but also I really like some sort of tequila drink, just because I think that livens the party. 3. Since I host so often, I think it’s really important to make sure you establish what do you want, what do you want to create, the decor you want do in advance. Get support, get help because you are the host, you set the mood, if you’re stressed, you’re overwhelmed then your guests are going to feel bad. My motto is ‘simple ideas thoughtfully executed’….I think that you have to think in advance of every minor detail so that you can then sit and relax. 4. I really love serving fish in the summer, and I love to grill fish, but often a delicate white fish is very difficult to grill…and my whole kind of motto is to elevate the presentation of the food so I’ve come up with this great tip that I think it’s delicious and beautiful and makes grilling fish easy which is to slice any type of citrus, lemon, lime, orange, even grapefruit, and you slice them into round discs and you put the discs on the grill, you can put fresh herbs on top of the citrus, and then the fish on top of the herbs, and you just close the grill, you don’t have to flip it, and then when you put it on the plate you got this beautiful citrus with the fish on top of it. 5. And also think that vibrant souses like salsa verde, or some sort of herby souse is like a beautiful way to elevate the color palette on top of whatever coating it is, but also a vibrant taste. THE ULTIMATE SUSTAINABLE SUMMER “First of all we should all do a sustainable summer, would make a huge difference,” said sustainability champion Arizona Muse . 1. The first tip is never think you are too small to make a difference, every incremental small change you make on a daily basis makes a huge difference over your lifetime, so do it, make those changes. 2. Second tip, teach your kids about it, kids are so clever with this stuff and they absorb it really well. 3. Switch from using liquid shampoo and conditioner in bottles to use pressed powder shampoo or a bar of shampoo that’s also dry, comes wrapped in paper, no plastic at all. 4. For all sponges that you use in your house, you can find brushes with natural bristles to replace those sponges, they also last a long time, you don’t have to replace them as frequently, and when you do replace them, they are biodegradable, so put them in compost disposal. 5. Look at the materials, read the labels before you buy a piece of clothing, if it’s made of synthetic material, don’t buy it. Sign up for WWD's Newsletter . For the latest news, follow us on Twitter , Facebook , and Instagram .