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Tires that patch their own holes? 2020 Ford Explorer represents upcoming trend The 2020 Ford Explorer will offertires that fix themselves.Drivers may not even know they ran over a nail, but here’s what they should know: The tires allow them to keep traveling after a puncture, in some cases continuing for days without a repair. They use different technology than run-flat tires, which have been criticized for rough rides. Most drivers won’t even know they had a puncture until they notice a nail stuck in the tire or tire-pressure warnings alert them to a gradual loss of air pressure days after the puncture, according to Michelin engineers. The concept of self-sealing tires has been around for years, but recent improvements — and automakers’ eagerness to save weight by eliminating conventional spares — means we’re going to see more of them. An electric car for kids?:2020 McLaren 720S Ride-On has scissor doors and signature style — all for $400 “Self-sealing tires are designed tohandle the most common tire puncture— a small object penetrating the tire in the tread area,” said Woody Rogers, director of tire information for online retailer the Tire Rack. Michelin makes the Explorer’s self-sealing tires. It also supplies them to the Chevrolet Bolt. Most major tire makers have tires with the technology, and the number of choices is only likely to grow. The inside of the tires is coated with viscous goop that flows into punctures to seal them. “When the sealant works as designed, most drivers never know it’s working. There is no pressure loss, and odds are the driver doesn’t see the object in the tire or it’s fallen out,” Rogers said. Creating the rubbery sealant was tricky, Michelin engineers said. It must flow into punctures, but it can’t pool at the bottom of the tire when it’s parked. The material also must form an airtight seal, and flow at temperatures from scorching desert blacktop to a frigid winter night. Unlike run-flat tires, which have stiff sides that allow them to keep rolling after the air leaks out, self-sealing tires can keep going for days after a nail or similar object punctures them. Run-flats, which first became common on sports cars that didn’t have room to carry a spare, wear out quickly after losing pressure. They may provide a range of just 50 miles or so before the tire must be replaced. Michelin’s tires can theoretically keep going for days, though they will eventually need to be repaired or replaced, depending on how severely the puncture damaged the tire. Neither technology is much help when the tires’ sidewall is shredded, as can happen with potholes. Michelin calls the technology Selfseal. Continental, which supplies self-sealing tires to brands ranging from Volkswagen to Bentley, calls its version ContiSeal. Michelin’s tires can seal punctures up to a quarter-inch. Continental makes a similar claim: one-fifth of an inch. The tires will be standard on the 2020 Explorer Limited hybrid and Platinum models and optional on the Explorer Limited. Other tire brands that offer self-sealing tires include Hankook and Pirelli. The Tire Rack charges about $27 more for a self-sealing 20-inch Michelin Primacy all-season tire for the 2020 Explorer Limited than for the same tire without sealant. “It’s important to remember self-sealing tires are not run-flat tires, and run-flat tires are not self-sealing tires,” Rogers said. “Conventional and self-sealing tires go flat without air, and the self-sealing tire works to hold in all that precious air by sealing a tread area injury. But if the puncture hole is too large, or the damage is in the sidewall, then self-sealing tires don’t solve the problem. “Run-flat tires aren’t self-sealing, but if they do get punctured or are damaged in the sidewall they can support the weight of the vehicle and cope with driving up to 50 miles at 50 mph even with zero pressure.” Expect U.S. sales of self-sealing tires to grow rapidly. Continental and Michelin both recently installed equipment to add the sealant at U.S. tire plants. Follow Mark Phelan on Twitter@mark_phelan This article originally appeared on Detroit Free Press:Tires that patch their own holes? 2020 Ford Explorer represents upcoming trend
You Can Get A Severe Chemical Burn From Drinking Margaritas In The Sun Photo credit: pjohnson1 / Getty Images From Delish It's all fun and games until your poolside margarita causes a legit chemical burn. Phytophotodermatitis, also called margarita burn and margarita dermatitis , causes painful blisters when UV light and certain vegetables or fruit (limes are a popular offender) come in contact on your skin. And it's not pretty. According to Good Housekeeping , the photochemical reaction that happens causes "cell death" (um, YIKES) and a variety of other symptoms, including blisters, redness, burning, and pain. And while, yes, citrus fruits are major culprits, celery, wild parsnip, parsley, hogweed, and more contain the furocoumarins that spur the condition. "It only develops in areas where the chemical touches the skin, explaining odd shapes like streaks or dots where lime juice may have dripped down the skin or splashed," director of cosmetic and clinical research at Mount Sinai Hospital, Dr. Joshua Zeichner, told the outlet. "The initial rash is fiery red, and it often heels with a dark brown black." Before you freak (because what is summer without margs??) there are ways to prevent it. Namely, avoiding contact by wearing gloves and washing up thoroughly after handling. But if you do develop Phytophotodermatitis, there is treatment. Topical steroidal creams are recommended for moderate blisters, inflammation, and itching, while more severe cases will require an oral corticosteroids or antihistamines. View this post on Instagram Souvenir from Mexico but the fresh hand squeezed lime margaritas were amazing! #itsreal #phytophotodermatitis #margaritaburn #limeburn #chemicalburn #ouch #whoknew #sunandlimesdontmix #citrusburn #juicinglimes #photosensitive A post shared by Taryn (@tmlamont) on Mar 11, 2018 at 11:44am PDT View this post on Instagram Crazy #dermpicoftheday Can you guess it? Watch thrown in for the heck of it. #tudor #submariner #snowflake is #womw on #kangaroo #nato Hint: Patient ate something...that dripped. #notblood Perfect #halloweencostume A post shared by docfink (@docfink) on Aug 1, 2014 at 8:02am PDT View this post on Instagram Leopard print hand. #phytophotodermatitis day 11 A post shared by Trazy Lyn Collins (@trazylyn) on May 2, 2016 at 7:02am PDT And while, clearly, it's not fun, as long as you take proper care to avoid scarring you should be fine. "It only rarely causes any permanent changes to the skin," Dr. Zeichner added. But also, I might keep my drinking activities indoors for now. ('You Might Also Like',) Crave Carbs? We Created This 21-Day Keto Plan Just for You Insanely Easy Weeknight Dinners To Try This Week 29 Insanely Delicious Vodka Cocktails View comments
JPMorgan reveals how the S&P 500 can surge past 3,200 There’s a case to be made for the S&P 500 (^GSPC) to surge past 3,200, according to JPMorgan. “While trade uncertainty remains the single largest source of downside risk for equities, a trade deal along with central bank monetary easing and low equity positioning could push the S&P 500 beyond 3,200,” wrote Dubravko Lakos-Bujas, JPMorgan’s chief U.S. equity strategist, in a Monday note to clients. That would be a gain of at least 8.25% from the index’s current level of 2,956. The 3,200 level also represents a record high. However, JPMorgan’s base case is that trade tensions won’t increase from here into a stand-off, resulting in a more mutedgainfor the S&P 500. “We maintain our positive stance on equities and keep our trade probability-weighted S&P 500 price target at 3,000 given our base-case view that trade tensions do not escalate into a stand-off,” Lakos-Bujas noted. A move to 3,000 represents a modest 1.5% gain from where the S&P 500 is now. The index is up 18% year-to-date as of Monday and is fresh off of its best first half of a year since 1997. Developments from this weekend’s G-20 meeting, which featured a meeting between President Donald Trump and China’s President Xi Jinping, suggest that trade tensions are unlikely to increase, at least for right now. Following the G-20 meetings, the U.S.agreed not to imposeadditional tariffs on Chinese imports and will allow U.S. companies to sell products to Huawei, reversing a ban that took effect in May. Still, trade negotiations could break down at any time, hence JPMorgan’s third scenario, which could push the S&P 500 down to 2,500. “If trade talks fully collapse and Phase III tariffs are implemented without any indication of rollback, the S&P 500 could decline to ~2,500, triggering both the ‘Trump Put’ and ‘Fed Put’,” Lakos-Bujas wrote. Read the latest financial and business news from Yahoo Finance Scott Gamm is a reporter at Yahoo Finance. Follow him on Twitter@ScottGamm. More from Scott: • The earnings picture for 2019 is showing more signs of deterioration • The next rate cut is unlikely to be caused by weak growth, economist explains • Why Trump should be worried about the stock market selloff • What the plunging 10-year Treasury yield says about the economy and stock market • Why one top strategist is bullish on tech even with lingering trade worries Follow Yahoo Finance onTwitter,Facebook,Instagram,Flipboard,LinkedIn, andreddit.
Did Charter Hall Education Trust (ASX:CQE) Use Debt To Deliver Its ROE Of 12%? 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 Charter Hall Education Trust (ASX:CQE), by way of a worked example. Over the last twelve monthsCharter Hall Education Trust has recorded a ROE of 12%. One way to conceptualize this, is that for each A$1 of shareholders' equity it has, the company made A$0.12 in profit. Check out our latest analysis for Charter Hall Education Trust Theformula for ROEis: Return on Equity = Net Profit ÷ Shareholders' Equity Or for Charter Hall Education Trust: 12% = AU$90m ÷ AU$740m (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 earnings retained by the company, plus any capital paid in by shareholders. 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. That means that the higher the ROE, the more profitable the company is. So, all else equal,investors should like a high ROE. That means it can be interesting to compare the ROE of different companies. 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. The image below shows that Charter Hall Education Trust has an ROE that is roughly in line with the REITs industry average (11%). That isn't amazing, but it is respectable. ROE can give us a view about company quality, but many investors also look to other factors, such as whether there are insiders buying shares. For those who like to findwinning investmentsthisfreelist of growing companies with recent insider purchasing, could be just the ticket. Most companies need money -- from somewhere -- to grow their 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 debt required for growth will boost returns, but will not impact the shareholders' equity. In this manner the use of debt will boost ROE, even though the core economics of the business stay the same. Although Charter Hall Education Trust does use debt, its debt to equity ratio of 0.44 is still low. The combination of modest debt and a very respectable ROE suggests this is a business worth watching. 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. A company that can achieve a high return on equity without debt could be considered a high quality business. All else being equal, a higher ROE is better. But ROE is just one piece of a bigger puzzle, since high quality businesses often trade on high multiples of earnings. Profit growth rates, versus the expectations reflected in the price of the stock, are a particularly important to consider. So I think it may be worth checking thisfreereport on analyst forecasts for the company. Of courseCharter Hall Education Trust 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.
Tom Brady Hilariously Shouts Profanity While Playing Golf, 'Forgets' His Sons Are Behind Him Even when he’s off the football field, Tom Brady is a serious competitor, even if it means forgetting who’s around when he lets out some profanity! The New England Patriots quarterback, 41, posted a video to his Instagram page over the weekend that showed him at a golf course with his two sons. The footage shows Brady wind up for a swing, and let out some profanity when he sees his shot didn’t go as planned. Right after, Brady turns back to his sons — Benjamin Brady, 9, and John Moynahan, 11 — and apologizes, as one of the boys drops their head down after hearing the hilarious outburst. “When you forget the kids are in the cart,” Brady wrote in the caption of the video, before adding a laughing emoji. The video has received more than 1.6 million views since it was posted on Saturday, and even some professional golfers, like Rickie Fowler, had to laugh at Brady’s frustration. “We all know that feeling,” Fowler wrote in the comment section of the video. RELATED: Gisele Bündchen & Tom Brady’s Adorable Family Photo Album View this post on Instagram When you forget the kids are in the cart #isthiscustomminesofftherack 🤣 A post shared by Tom Brady (@tombrady) on Jun 29, 2019 at 3:21pm PDT While he may have been a little frustrated at the golf course, the last few weeks have treated Brady well. Last week, he posted a fun selfie with his former rival, Peyton Manning , who he called one of his “friends.” According to Yahoo , the quarterbacks faced each other 17 times before Manning, 43, hung up his jersey, with Brady coming out on top with an 11-6 record in their meetings. RELATED: Gisele Bündchen Shares Tribute to Tom Brady: ‘Best Tickler, Pancake Maker and Hair Cutter’ View this post on Instagram Spoiler alert... we were friends this whole time. Always great to see you Peyton! A post shared by Tom Brady (@tombrady) on Jun 26, 2019 at 9:09am PDT While Brady may have bested Manning during their rivalry, the two are still pitted against each other in debates of who is considered the best quarterback of all-time. Story continues RELATED : Tom Brady Says He and Former Rival Peyton Manning ‘Were Friends This Whole Time!’ in New Selfie The picture of the two football greats received more than 780,000 likes on Instagram as of Thursday afternoon, with thousands of followers leaving reactions in the comments section. But over on Twitter, many took a chance to poke fun at the picture — namely Manning’s colorful suit. RELATED : Tom Brady Is Stressing Out New England Patriots Fans with His Latest Instagram Post In early June, Brady also attended a banquet at New England Patriots owner Robert Kraft home to present the team with Super Bowl rings after winning their sixth championship in franchise history. Brady was then challenged by lineman David Andrews in a beer chugging contest , who Brady swiftly beat.
Will Gennadiy Golovkin step up to face Demetrius Andrade? Demetrius Andrade wants to unify the middleweight titles. (Sarah Stier/Getty Images) Demetrius Andrade was going to defeat Maciej Sulecki on Saturday regardless of which style either man fought. Andrade is simply that much more gifted than Sulecki. But the style that Andrade’s father/trainer, Paul, discouraged him from using after the first round is the style that would have made him a more palatable net opponent for either Canelo Alvarez , his primary target, or Gennadiy Golovkin , his second choice. Paul Andrade’s last words to his son before he got off the stool to fight the second round were, “Don’t make this a war; make it a boxing match.” Ever the dutiful son, that’s exactly what Demetrius did. He boxed rings around Sulecki, making him look foolish at times, and won every round going away for a decisive 120-107 victory on all three judges scorecards. But those 11 rounds, while brilliant technically, aren’t likely to make either Alvarez or Golovkin fight him unless it’s absolutely necessary. It’s sad that it has come to that in boxing, but Andrade has to deal with the realities of the marketplace. The fight to make is Alvarez-Golovkin III, but Alvarez is showing interest in a light heavyweight fight with Sergey Kovalev. Chasing a bout with Kovalev is exactly why Alvarez is so beloved. It’s a risky fight, one he could lose, and it’s not one he has to take. Alvarez is going to the International Boxing Hall of Fame when his career ends, pretty much regardless of what he does from this point forward. Alvarez didn’t fight Golovkin until 2017 because he didn’t feel he was fully a middleweight, but if he takes on Kovalev in September, it will be his fourth division in three years. Alvarez fought Liam Smith at super welterweight on Sept. 17, 2016. He fought Golovkin twice and Daniel Jacobs at middleweight and fought Julio Cesar Chavez Jr. and Rocky Fielding at super middleweight. The preference from most fans is a third bout with Golovkin, but not too many are going to complain if they get Alvarez-Kovalev in September instead. It’s a fight filled with intrigue and carries the possibility of Alvarez getting stopped for the first time in his career. And while Kovalev is nowhere near the fighter he was at his peak five years ago, he’s still a quality light heavyweight, which he proved in February in a win over Eleider Alvarez (no relation to Canelo). A win over Kovalev would be significant for Alvarez and would give him world titles at four different weight classes. DAZN, of course, will push Alvarez to face Golovkin, because it has invested massively in both men and the fight between them would still do huge business. Story continues But it’s hard to fault Alvarez if he wants to take on Kovalev. That would leave Golovkin looking for an opponent, with either of the most logical matches, Andrade or WBO super middleweight champion Billy Joe Saunders. This leaves Golovkin in an odd spot, because it will be difficult for him to look good against either of those opponents. Andrade, in particular, could give the 37-year-old fits with his defensively oriented style. Since losing to Alvarez last year, Golovkin has revamped his team, dismissing his managers, his trainer and his personal attorney. He’s asked members of his team to sign non-disclosure agreements and has put a lid on all discussion about his career. His promoter, Tom Loeffler, wouldn’t discuss Golovkin’s options other than to say a third Alvarez fight is his choice. “I can’t officially comment on the opponent process, [but] naturally Canelo is the top choice,” Loeffler said. “If that doesn’t work for whatever reason, then we would sit down with GGG and DAZN and figure out the next best alternative.” The best alternative would almost certainly be Andrade, who holds a belt in his division. He’d be more palatable to Golovkin had he fought the last 11 rounds the way he did the first. But there is a good chance Andrade would be even more elusive against Golovkin than he was against Sulecki, and that wouldn’t be good for anyone. It wouldn’t be fun for fans, and it’s hard to see DAZN selling a lot of new subscriptions to people eager to see Golovkin-Andrade. If Alvarez gets the go-ahead to fight Kovalev, though, Golovkin is going to have to suck it up and fight Andrade. Until then, expect Team GGG to do a lot of lobbying convincing John Skipper, DAZN’s chairman, to make the third fight with Alvarez. No doubt that’s Skipper’s presence, as well. Alvarez, though, won’t be bullied into anything and it has to be galling to Golovkin that a significant part of his future is in the hands of his most bitter rival. That’s boxing in 2019, though. Golovkin may well have to learn to live with it. More from Yahoo Sports: Winners and losers from opening night of NBA free agency Nets won free agency with KD, Kyrie, but now real work starts Dolan, Knicks are same old laughingstock after Sunday Ellis is coaching USWNT vs. country that wouldn’t let her play View comments
slowthai announces first-ever North American headlining tour Britain’s slowthai is making the biggest moves of his career this year. After dropping his highly anticipated debut LP, Nothing Great About Britain , back in May, the grime rapper has today announced he will embark on his first-ever headlining North American tour in the fall. Dubbed the “Coming to America Tour”, the seven-date jaunt kicks off in California on September 4th in Los Angeles. From there, the 24-year-old MC will work his way up the west coast, performing additional shows in San Francisco, Vancouver and Seattle. By way of Toronto and Chicago, the short tour wraps on September 14th at Brooklyn, New York’s Music Hall of Williamsburg. slowthai’s headlining jaunt is preceded by a two-night run at Morrison, Colorado’s iconic Red Rocks Amphitheatre, where the up-and-coming artist will support Flume . He’s also confirmed to play a number of UK and European festivals this summer. Check out the full dates below, and find tickets to all slowthai’s upcoming concerts here . slowthai 2019 Tour Dates: 07/12–13 – London, UK @ Lovebox Festival 08/06 – Morrison, CO @ Red Rocks Amphitheatre * 08/07 – Morrison, CO @ Red Rocks Amphitheatre * 08/06–10 – Oslo, NO @ Oya Festival 08/09–11 – Helsinki, FI @ Flow Festival 08/15–18 – Hasselt, BE @ Pukkelpop 08/23–25 – Reading, UK @ Reading Festival 08/23-25 – Leeds, UK @ Leeds Festival 09/04 – Los Angeles, CA @ The Lodge Room 09/05 – San Francisco, CA @ Rickshaw Stop 09/07 – Vancouver, BC @ Fortune Sound Club 09/09 – Seattle, WA @ The Crocodile 09/12 – Toronto, ON @ Velvet Underground 09/13 – Chicago, IL @ Subterranean 09/14 – Brooklyn, NY @ Music Hall of Williamsburg 10/31–11/02 – Paris, FR @ Pitchfork Music Festival Paris * = w/ Flume [cos-videojs id=”blackdavesurfinmusicvideowlf9-1537210559642,blackdavesurfinmusicvideowlf9-1537210559642,billieeilishsetlist-1560280933455,tourupdateslizzo-1558043203106,nas27top5songs-1529617593231″ auto_play=true show_playlist=true sticky=true] slowthai announces first-ever North American headlining tour Ming Lee Newcomb
U.S. Congress expands probe of White House personal email use By Doina Chiacu WASHINGTON, July 1 (Reuters) - Top aides in President Donald Trump's White House, including his daughter Ivanka Trump and son-in-law, Jared Kushner, will come under increased scrutiny for their use of personal emails and other unofficial messaging to conduct government affairs, a congressional oversight chairman said on Monday. U.S. Representative Elijah Cummings, the Democratic chairman of the House Oversight and Reform Committee, said the panel would begin its own review of emails and other communications by the White House that he said violated federal records law. "The purpose of this investigation is to determine why White House officials used non-official email accounts, texting services and encrypted applications for official business," Cummings wrote to White House Counsel Pat Cipollone. Lawmakers will look at why records sent or received by non-official accounts were not forwarded to official accounts within 20 days as legally required, as well as whether there was a topic White House officials wanted to conceal, he said. The White House did not immediately respond to a request for comment. Trump pilloried his Democratic opponent, Hillary Clinton, in the 2016 presidential campaign for her use of a private email server when she was secretary of state. He continues to refer to her emails in speeches and on Twitter. The Republican leaders of the oversight panel had also sought information on use of non-official messaging by White House staff in 2017 and 2018. Democrats took over the panel after winning the House of Representatives in 2018 elections. Cummings said the White House had not produced any documents in response to those requests or his own previous requests, saying it was conducting an internal investigation. In March, Cummings wrote to the White House counsel with "more troubling information" about apparent violations by Kushner, Ivanka Trump and former advisers Steve Bannon and K.T. McFarland. Cummings said Kushner's lawyer, Abbe Lowell, had told lawmakers that Kushner used WhatsApp for official duties and that his wife, Ivanka, continued to use a personal email account for her White House business. Lowell, in a reply to Cummings, denied telling lawmakers that Kushner had communicated through any app with foreign "leaders" or "officials" but said Kushner had used such apps for communicating with "some people," who were not specified. CNN reported last year that Kushner communicated with Saudi Crown Prince Mohammed bin Salman via the Facebook Inc-owned WhatsApp messaging application. (Reporting by Doina Chiacu; Editing by Peter Cooney)
John Oliver slammed Amazon working conditions and this exec wasn't happy Shed a tear for Dave Clark. TheAmazonsenior vice president is having a bad day after a television show he likes,Last Week Tonight, called his company to account for the way it treats its warehouse workers. Can you believe the gall of host John Oliver? Dave Clarkis a fan, after all. Clark made his displeasure known via Twitter, where he repeatedly insisted that Oliver has it all wrong. "As a fan of the show, I enjoy watching John make an entertaining case for the failings of companies, governments and most recently - Mount Everest,"wrote Clark. "But he is wrong on Amazon. Industry-leading $15 minimum wage and comprehensive benefits are just one of many programs we offer..."Read more... More aboutAmazon,John Oliver,Last Week Tonight,Tech, andBig Tech Companies
Woolworths Group Limited (ASX:WOW): What We Can Expect From This Growth Stock Want to participate in ashort research study? Help shape the future of investing tools and you could win a $250 gift card! Looking at Woolworths Group Limited's (ASX:WOW) earnings update in December 2018, analysts seem cautiously optimistic, as a 31% increase in profits is expected in the upcoming year, relative to the past 5-year average growth rate of -13%. Presently, with latest-twelve-month earnings at AU$1.6b, we should see this growing to AU$2.1b by 2020. In this article, I've outline a few earnings growth rates to give you a sense of the market sentiment for Woolworths Group in the longer term. Readers that are interested in understanding the company beyond these figures shouldresearch its fundamentals here. View our latest analysis for Woolworths Group Longer term expectations from the 13 analysts covering WOW’s stock is one of negative sentiment. Generally, broker analysts tend to make predictions for up to three years given the lack of visibility beyond this point. To understand the overall trajectory of WOW's earnings growth over these next fews years, I've fitted a line through these analyst earnings forecast to determine an annual growth rate from the slope. This results in an annual growth rate of -7.2% based on the most recent earnings level of AU$1.6b to the final forecast of AU$1.9b by 2022. However, if we exclude extraordinary items from earnings, we see that the profits is predicted to rise over time, resulting in an EPS of A$1.5 in the final year of forecast compared to the current A$1.23 EPS today. Contraction in the bottom line seems to suggest top-line expansion of 2.8%, which is predicted to lag cost growth leading up to 2022. But by the end of 2022, analysts are expecting slower cost growth, resulting in a margin expansion, from the recent 2.8% to 3.0%. Future outlook is only one aspect when you're building an investment case for a stock. For Woolworths Group, I've compiled three essential aspects you should look at: 1. Financial Health: Does it have a healthy balance sheet? Take a look at ourfree balance sheet analysis with six simple checkson key factors like leverage and risk. 2. Valuation: What is Woolworths Group worth today? Is the stock undervalued, even when its growth outlook is factored into its intrinsic value? Theintrinsic value infographic in our free research reporthelps visualize whether Woolworths Group is currently mispriced by the market. 3. Other High-Growth Alternatives: Are there other high-growth stocks you could be holding instead of Woolworths Group? Exploreour interactive list of stocks with large growth 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.
Are CBD dog treats safe? Experts weigh in Interested in giving your dog a CBD treat? These could be the best bet for their safety. (Photo: Yahoo Lifestyle graphic) Dog owners are all-too-familiar with the stress of seeing their pups in pain — and not knowing how to fix it. From arthritis to general aches and pains, there are many conditions that are difficult to treat. And when none of the traditional treatment options work, owners are starting to look for new, innovative ways to help. One of those new treatment options is CBD treats . CBD treats contain what’s called cannabidiol, an active ingredient in marijuana that does not cause a “high,” according to Harvard Health Publishing. It’s legal in every state (to different degrees) and has proven health benefits for humans, such as minimizing chronic pain and lessening epilepsy side effects. For dogs, however, there are not a ton of proven long-term effects. However, A study from Cornell University found that CBD oils can decrease the pain, and increase activity in canines. And a European study tested CBD on animal’s skin and found that it proved successful in lowering pain and inflammation due to arthritis. Preliminary data from a Colorado State University study also found that 89 percent of dogs who received CBD in the clinical trial showed a reduction in the frequency of seizures they have. Dr. Katy Nelson, resident Veterinarian at Freshpet, tells Yahoo Lifestyle that increasing concerns about organic pet food ingredients are the main reason people are looking to CBD for their pets. “I think a lot of people are trying to look at CBD as a calming agent, or as something that's a natural way to ease pain in pets,” she explains. Despite the lack of evidence for long-term benefits, Nelson says she’s heard a lot of anecdotal evidence supporting CBD pet products — specifically to help with fears of fireworks. “The main thing I tell people right now is to look for organic and look for the tinctures,” she says. “I can say I'm hopeful we get some really good information about it.” Erin Askeland, a certified professional dog trainer — who has an elder dog with chronic pain — believes CBD is a hopeful option. “I decided to put him on CBD personally after doing a lot of research, talking to my vet because he's older and he's got arthritis and he's been on other medications, he's done injections, we do physical therapy,” she explained. “We do everything and I have personally seen a good effect for him, but that was a personal choice, that was best for him (he's 13) so I'm not as worried about those long-term effects, but that was a personal choice.” Story continues Askeland, who also is a behavioral consultant for Camp Bow Wow, used an Honest Paws product for her pup. But she also recommends HolistaPet , King Kanine , Smart Hemp and Canna-Pet for CBD products. Honest Paws Relief Formula Honest Paws Relief Formula. (Photo: Amazon) Shop it: Honest Paws Relief Formula, $25, Amazon.com “It's important to make sure if your dog's on any other medications, to talk to your vet about it just to be sure,” she advises. “Do your research, look at the companies; talk to people who have used the product, talk to their reps, look what's in the ingredients, look at where they're sourcing those ingredients.” It’s important to keep an eye on your dog after they consume any CBD products for the first time. Askeland advises owners to look out for the following warning signs: excessive drooling, panting, licking or chewing abnormal pacing major appetite changes Below, some other CBD dog treats you could try: NaturVet Hemp Allergy Aid Plus Hemp Seed Dog Soft Chews NaturVet Hemp Allergy Aid Plus Hemp Seed Dog Soft Chews. (Photo: Amazon) Promising review: “My lab had been having discharge from his eye and once I started the chews it literally cleared up in a day. I initially bought it because he licks his paws a lot and was hoping it alleviated that issue. It has helped a little bit but he still does lick his paws, just not as often.” Shop it: NaturVet Hemp Allergy Aid Plus Hemp Seed Dog Soft Chews, $23, Chewy.com Hemp Peanut Butter Flavor Soft Chews Dog Supplement, 90 count Zesty Paws Stress & Anxiety Calming Bites with Suntheanine & Hemp Peanut Butter Flavor Soft Chews Dog Supplement. (Photo: Chewy) Promising review: “My pit mix Evie has severe separation anxiety and anxiety from storms/loud thunder/lightning cracking. Evie usually hides under the bathroom vanity or under the comforter on the bed and just shakes...This product just gave her some anxiety relief and some chill. This is the first storm she didn't wind up under something shaking in fear. Thanks Zesty Paws. Great Product !!!!!” Shop it: Hemp Peanut Butter Flavor Soft Chews Dog Supplement, 90 count, $30 (Was $50), Chewy.com Ultra Oil Skin & Coat Supplement with Hempseed Oil Ultra Oil Skin & Coat Supplement with Hempseed Oil. (Photo: Chewy) Promising review: “I am so happy with this product so far. I have only used it for about a week but my super picky dog seems to love it!! I have not seen him attack his kibble with so much enthusiasm in a while. I also am not sure if this is one of the effects of the Ultra oil but I have noticed significant improvement to the smell of my dog's poop. Since this is the only change made to his diet recently, I have to assume that the oil helped with the smell somehow? The oil has no fishy smell, is easy to use.” Shop it: Ultra Oil Skin & Coat Supplement with Hempseed Oil, $24, Chewy.com Wellness Oil Wellness oil. (Photo: Max-bone) Promising information: “Crafted using natural growing practices to deliver a blend of active ingredients that support a healthy system, this formula is safe, gentle, and effective. Provides naturally occurring antioxidants, is gluten free, non-GMO, and vegan.” Shop it: Wellness Oil, $55, max-bone.com Canna Medis Premium Hemp Oil for Dogs with Anxiety, Cancer, Arthritis, Pain, Seizures, Inflammation Canna Medis Premium Hemp Oil for Dogs with Anxiety, Cancer, Arthritis, Pain, Seizures, Inflammation. (Photo: Amazon) Promising review: “Our golden retriever hasn’t had any seizures since we started him on the oil 3 weeks ago! So far so good. We hope he continues to get better. We are pleased with this product and will definitely purchase more. It’s very easy to use... just a few sprays into his dog food twice a day and that’s it. He seems more calm and relaxed since we started the hemp oil treatment.” Shop it: Canna Medis Premium Hemp Oil for Dogs with Anxiety, Cancer, Arthritis, Pain, Seizures, Inflammation, $50, Amazon.com The editors at Yahoo Lifestyle are committed to finding you the best products at the best prices. At times, we may receive a share from purchases made via links on this page. The reviews quoted above reflect the most recent versions at the time of publication. Read More from Yahoo Lifestyle: These dog cooling scarves can help your pup beat the summertime heat 15 things that'll make your dog's life better right now 'Best cat toy ever': Why pet owners and felines love this $10 find Follow us on Instagram , Facebook , Twitter , and Pinterest for nonstop inspiration delivered fresh to your feed, every day. Want daily pop culture news delivered to your inbox? Sign up here for Yahoo’s newsletter.
Does the Stock Market Close Early for the Fourth of July? If you're thinking about trading stocks on Independence Day, think again. The stock market is closed on Thursday, July 4, as is the bond market. On Wednesday, July 3, the day before the Fourth of July holiday, the stock market closes early at 1 p.m. ET, while the bond market closes early at 2 p.m. Regular trading hours for both the stock market and the bond market resume on Friday, July 5, the day after Independence Day. The following is a schedule of all stock market and bond market holidays for 2019. Please note that regular trading hours for the New York Stock Exchange (NYSE) and Nasdaq Stock Market are 9:30 a.m. to 4 p.m. Eastern on weekdays. The stock markets close at 1 p.m. on early-closure days; bond markets close early at 2 p.m. SEE ALSO: 19 Best Stocks to Buy for the Rest of 2019 2019 Market Holidays Tuesday, Jan. 1 New Year's Day Closed Closed Closed Monday, Jan. 21 Martin Luther King Jr. Day Closed Closed Closed Monday, Feb. 18 Presidents' Day/Washington's Birthday Closed Closed Closed Thursday, April 18 Maundy Thursday Open Open Early close (2 p.m.) Friday, April 19 Good Friday Closed Closed Closed Friday, May 24 Friday Before Memorial Day Open Open Early close (2 p.m.) Monday, May 27 Memorial Day Closed Closed Closed Wednesday, July 3 Day Before Independence Day Early close (1 p.m.) Early close (1 p.m.) Early close (2 p.m.) Thursday, July 4 Independence Day Closed Closed Closed Monday, Sept. 2 Labor Day Closed Closed Closed Monday, Oct. 14 Columbus Day Open Open Closed Monday, Nov. 11 Veterans Day Open Open Closed Thursday, Nov. 28 Thanksgiving Day Closed Closed Closed Friday, Nov. 29 Day After Thanksgiving Early close (1 p.m.) Early close (1 p.m.) Early Close (2 p.m.) Tuesday, Dec. 24 Christmas Eve Early close (1 p.m.) Early close (1 p.m.) Early Close (2 p.m.) Wednesday, Dec. 25 Christmas Day Closed Closed Closed Tuesday, Dec. 31 New Year's Eve Open Open Early Close (2 p.m.) Holiday observations When a holiday falls on a weekend, market closures are dictated by two rules: Story continues If the holiday falls on a Saturday, the market will close on the preceding Friday. If the holiday falls on a Sunday, the market will close on the subsequent Monday. SEE ALSO: The Berkshire Hathaway Portfolio: All 48 Buffett Stocks EDITOR'S PICKS 19 Best Stocks to Buy for the Rest of 2019 33 Ways to Earn Higher Yields All 48 Stocks Owned by Warren Buffett Copyright 2019 The Kiplinger Washington Editors
2 Women Accused of Stealing Car, Jewelry From Ex-Mouseketeer Found Dead in Home Nearly a month after authorities confirmed the death of missing former child actor and original Mouseketeer Dennis Day , two woman have been charged in the alleged theft of his car in which they were riding days after he was last seen. No one has yet been accused in the disappearance or death of Dennis Day, who apparently vanished after walking down his driveway on July 17, 2018, in Phoenix, Oregon, on his way to visit friends, reports local station KOBI-TV . But according to the Mail Tribune , warrants issued last week accuse Wanda Diane Garcia, 57, of Medford, and Lori Ann Declusin, 34, of White City, of felony unauthorized use of Day’s 1990s model Ford Escort after they were stopped in the vehicle last July 26. In addition, Garcia is charged with first-degree theft after allegedly taking and selling a brooch on July 19 that belonged to Day, reports the outlet. Police said Day was not familiar with either woman. RELATED: Original Mouseketeer Dennis Day Found Dead in His Home Nearly 1 Year After Mysterious Disappearance Wanda Diane Garcia \| Jackson County Jail Lori Ann Declusin The State Medical Examiner’s Office confirmed last month that a body found April 6 at the Phoenix home shared by Day, 76, and his husband, Ernie Caswell, belonged to the child star, Capt. Timothy Fox of the Oregon State Police previously told PEOPLE. Dennis Day, at left, and his husband \| Help Us Find Dennis Day/Facebook Authorities said it took some time for them to identify the remains because of their poor condition, which prevented them from using dental records or DNA. Caswell suffers from “age-related memory loss” and has been living at a care facility, Fox previously told PEOPLE. Prior to Day’s disappearance, Caswell had fallen in the couple’s home and been hospitalized, and reported his husband missing after he realized that Day had not been to visit him in several weeks, according to Day’s family. • Want to keep up with the latest crime coverage? Click here to get breaking crime news, ongoing trial coverage and details of intriguing unsolved cases in the True Crime Newsletter. Police reportedly told Day’s sister, Nelda Adkins, that a roommate who shared the couple’s home said that when Day last was seen, he was traveling on foot to visit friends. Story continues “Ernie was in the hospital at that time … [s]o he had someone from the hospital call the police,” Adkins told NBC News . According to the criminal charge, Garcia, Declusin and a third person were allegedly stopped July 26 driving Day’s car. No arrests were made at the time but Garcia was cited for driving with a suspended license and the car was impounded, reports the Mail Tribune . Garcia pleaded not guilty to the charges related to Day but remained in the Jackson County jail Monday with bail listed at $20,000, according to online records. Declusin also entered a plea of not guilty and was released on her own recognizance, reports KOBI. Disney’s The Mickey Mouse Club first aired from 1955-1959. According to the Mail Tribune , Day was a Mouseketeer from 1956-57 and a “long-time entertainer and director for the California Renaissance Pleasure Faires & Dickens Fair.”
Commentary: Moving Grain Is A Major Market For U.S. And Canadian Railroads FreightWaves features commentary from Market Voices – contributors with unique knowledge of numerous transportation/logistics/supply chain sectors, as well as other critical expertise. The transportation of grains is a large volume and profitable business sector for railroads in the U.S. and Canadian markets. Grains are harvested seed of the grass family. Also called cereals, the basic grains include wheat, oats, rice and corn. Grains are considered a staple food because they are routinely eaten by mankind and in many areas of the world provide nearly half of consumed carbohydrates. Grains are also used to feed livestock and to manufacture products like cooking oils, cosmetics and alcohols. In addition, corn is also an ethanol fuel source. In the United States, corn and wheat are the two largest farmed grain crops. There is also a large soybean crop – although technically soybean is an oilseed. After harvesting, grains typically move from the farm to local storage silos. Some silos are operated by farmer cooperatives – others are independent logistics facilities. Movement of grains can occur throughout the year provided that the grains are stored to protect them from moisture. Each grain is grown in different clusters of states. Corn is grown in many states, but just five states – Illinois, Indiana, Iowa, Minnesota and Nebraska – account for nearly two-thirds of U.S. corn production. The top five U.S. wheat producing states are Kansas, North Dakota, Washington, Montana and Oklahoma. Soybean production is centered in Illinois, Iowa and Minnesota. Which transport mode? Trucks have cost advantages for shorter distances (less than 250 to 500 miles) and function primarily as the short-haul mode between farm and local silos. A typical truck has the capacity to move 20 to 30 tons of grain. Some super-trucks in Canada can move up to 45 tons of grains on designated local roads – which is the equivalent of about 57 acres of farm production. Overall, trucks might have nearly a 70 percent share when moving domestic corn. However, when examining export movements of all U.S. grains, the railroad share jumps to between 33 percent and 40 percent. Trucking's share of exports is often less than 20 percent. Barges move about 50 percent of exported grains. These modal shares vary significantly depending upon where in the country the shipments are moving and whether for the domestic or export markets. Rail's economic advantage comes in large part from each railroad car's capacity of up to 100 tons. That's the equivalent of three to four truckloads. The newer 5,400-cubic foot covered hopper railroad grain cars can hold and then move the equivalent of about 115 or more acres of harvested grains per car. Linked together, a 100-railcar length train can move between 9,000 to 10,000 tons of grain. That's the equivalent of more than 11,000 harvested acres. Where navigable waterways exist, barges have a lower transportation cost. A barge can hold the equivalent of roughly 15 rail cars and then moves along the water at a very low energy cost – often less than half of rail's per ton-mile cost. The economics of unit rail trains There have been three technical advances in the past half century that have helped U.S. railroads retain market share in the grain business. One engineering advance was the development of heavier axle loads – each freight car increases its net cargo load. Total gross carloads increased from 263,000 pounds per railcar to 286,000 pounds – and on some rail routes to 315,000 pounds. Spread out along four axle sets per railcar, this increased the vertical loading from 30 metric tons to as much as 35 metric tons per axle on some strategic grain routes. The cost for this operational change was about an 18 percent increase in annual track and bridge maintenance costs. The net savings (cost advantage) came from higher net loads per railcar and per train movements. Secondly, the railroads also experimented with running longer trains. Trains that once averaged 50 to 70 railcars were expanded to 90 and 100 railcars. As a third initiative, the railroads set up unit grain trains. The Illinois Central Gulf Railroad (the ICG) was among the first to experiment with this idea. ICG worked with Cargill in 1966 to see if the premise of unit coal trains would work for grains. Instead of renting individual railcars for grain transport, ICG negotiated with Cargill in 1966 to rent an entire train. The potential was nearly a 50 percent reduction in the rail rate Cargill would pay. The challenge was that Cargill had to re-engineer its silo tracks to load an entire train at one time. Cargill accepted the unit car challenge. It even introduced dryer technology to better store grain and keep it in prime condition well beyond harvest until the unit trains were assembled. Cargill invested capital in an expanded 3.6 million bushel export grain complex near Gibson City, Illinois. During the winter of 1967, the first Cargill/ICG 115-railcar unit train moved from the silos at Gibson City with approximately 400,000 bushels that were delivered to Baton Rouge, Louisiana. Once emptied, the entire train set returned to Gibson City in just five days. The result was that Cargill committed to a minimum of 56 round trips the following year, and the ICG delivered more than 22 million bushels of corn to Baton Rouge. Soon after, Cargill opened similar unit train loading terminals in Tuscola, Illinois and at Linden, Indiana. Other railroads began to adopt the unit train/larger silo terminal business model. The image below is a partial map view of approved terminals in Union Pacific's Grain Shuttle Program. Union Pacific offers a shuttle grain train service with a dedicated set of 75 or 110 covered hopper railcars for loading of whole grains that move as a unit (train) from one origin to one destination. The rail grain market in 2019 During an average week, U.S. railroads will move between 18,000 and 26,000 carloads of grain. When rail is used to move grains, about 70 percent is by unit trains. Single railcar to five-railcar movement of grains is a very small percentage of the rail grain business today. Less than 10 percent of rail-moved grains use a single car to a five railcar movement. Overview of the 2017 volume and tonnage grain market for the U.S. In 2017, 144 million tons of all grains were moved by rail. Of that total, there were just over 70 million tons of corn, 30+ million tons of wheat and close to 28 million tons of soybeans moved. The 10-year rail volume pattern has varied from a low of just over 120 million tons to a high in three years of close to 150 million tons. For 2017, grains amounted to 8.9 percent of total U.S. railroad tonnage. In 2017, railroad gross revenue earned from the movement of these grains was approximately $5.5 billion. That was about 8.5 percent of all U.S. rail freight revenues. By type of grain, $2.5 billion in revenue came from moving corn, $1.6 billion came from transporting wheat and $1 billion was from soybeans. There are a few specialized rail grain movements to note The railroads transport ethanol as a manufactured corn-based fuel. During 2017, approximately 50 million bushels of corn were used to manufacture ethanol. The rail tonnage and rail revenue from ethanol transport was not included in the information above. From a railroad marketing perspective, ethanol is primarily a tank car business. The railroads also move some international maritime containers with specialty grains. From a base of almost zero container grain in 2006, recent research identifies as much as 3 percent of rail-moved containers are hauling "farm products" classified as STCC code group 01. Otherwise empty containers in 40-foot/20-foot sizes are returning to countries like China. Instead of being empty, they are loaded with grains. Rail intermodal terminals at Chicago and Minneapolis-Saint Paul are two grain container loading centers. How much this sector will grow is uncertain. Acknowledgement: • Association of American Railroads (AAR) 2017 statistical data • USDA Agricultural Marketing Service • Kimberly Vachai, PhD., Upper Great Plains Transportation Institute • Gord Leathers, Country-Guide • US Grains Council Image Sourced From Pixabay See more from Benzinga • This Week's Freight Forecast, 7-1 • Commentary: Vietnam's Air Exports To The U.S. Increase As China-U.S. Trade War Simmers • Maple Leaf Motoring: New Load Board Aims To Disrupt The Canadian Freight Market © 2019 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Why the Trump stock market has lost touch with any form of reality Overly bullish investors — jazzed up about “progress” on the U.S.-China trade war at the G20 — are long overdue for a beatdown at the hands of the spike filled reality stick. “The market has lost touch with the fundamentals,” Diamond Hill Capital Management portfolio manager John McClain said on Yahoo Finance’sThe First Trade. McClain may be right on the mark here. Consider this nugget of fresh info from Jan Hatzius and his strategy team at Goldman Sachs. The S&P 500 has risen 7% from its trough on June 3, with valuation expansion accounting for more than 95% of the rally. In effect, stocks have been boosted by thinly veiled promises from the Federal Reserve of lower interest rates this summer. That is instead of stocks being powered by the healthier combination of valuation expansion and rising earnings estimates on Wall Street, in large part because Corporate America is in fine health. As a result of the lingering trade war, an argument could be made that Corporate America has caught a flu and doesn’t deserve its loftier valuations. FactSet says out of the 113 S&P 500 companies that have issued second quarter guidance, 87 have served up earnings warnings. The number of companies issuing negative earnings guidance for the second quarter is above the five-year average of 74. The data from FactSet makes perfect sense when taking a glimpse at souring reports on U.S. manufacturing since May. Said data is unlikely to reverse course this month even if the Fed slashes interest rates as widely expected. Messy quarters and outlooks from trade bellwethers FedEx (FDX) and Micron (MU) also play into the rationale investors have lost touch with reality. It’s hard to imagine that based on those early second quarter earnings results, the coming earnings season doesn’t represent a material risk to stock prices. These headlines don’t deserve to be rewarded by investors — quite the contrary. For his part, McClain believes investors stand to be “clobbered” as the true health of Corporate America is digested via earnings reports due to hit the wires shortly. Meanwhile, Hatzius doesn’t doesn’t think much was accomplished at the G20 to warrant such exuberance on Wall Street. “No substantive progress was announced on the main issues in the dispute. Potential partial easing of US restrictions on exports to Huawei represents slightly more de-escalation than expected, though the details remain unclear,” Hatzius wrote in a note to clients. Nevertheless, the S&P 500 briefly surpassed its previous all-time intraday high earlier Monday, reaching as high as 2,977.93 on the session before retreating. Yet another sign of investors forgetting reality. Brian Sozzi is an editor-at-large and co-host of ‘The First Trade’ at Yahoo Finance. Follow Brian Sozzi him on Twitter@BrianSozzi Read the latest financial and business news from Yahoo Finance • Why Shake Shack CEO is testing a 4-day workweek • Trump's trade war with China may shock investors this summer • 2 black swans could come out of nowhere and kill stocks this summer • Why scrapping Trump's corporate tax cuts could crush businesses Follow Yahoo Finance onTwitter,Facebook,Instagram,Flipboard,SmartNews,LinkedIn,YouTube, andreddit.
Don't Be Evil: 3 Companies That Highlight the Importance of Good Company Culture This article wasfirst published by MyWallSt. When it comes to investing, one of the most overlooked components of a company's health is its culture. This includes how management treats employees, how employees treat one another, the way in which a company interacts with its environment, and its relationship with customers. A central aspect of a company's culture is how employees feel about working there. Do they come into the office every day with a spring in their step? Do they admire or have a good relationship with its management team? Image Source: Getty Images Unlike annual revenue figures, these considerations can be hard to quantify, but they can be every bit as important when it comes to determining whether a business will last. The employee evaluation siteGlassdooroffers direct feedback from employees on a business and allows investors an inside look into how it is being run. You'll find here that some of the most enduring stocks are ranked highest in terms of employee satisfaction. Rarely does a toxic work environment translate to the long-term success of a share price. When consumers find out that a beloved company provides a poor environment for its employees, they don't react well.Uber(NYSE: UBER), for example, was sued by its own drivers in 2013 for the unfair wages they were receiving, and was plagued in the years afterward by a series of scandals involving sexual harassment and racism by upper management. The slew of controversies may have takenas much as $10 billionoff the company's value. However, after a change in CEO and a reformation of company culture, Uber now boasts a 4.3 out of 5 stars on Glassdoor, as well as an overall improved reputation. Here are three companies that have kept the importance of a good company culture right at the heart of operations from day one. There are few companies more closely associated with culture -- in every sense of the word -- thanNetflix(NASDAQ: NFLX). In 2009, the streaming service published its celebrated "culture deck," outlining the various ways in which it safeguards the well-being of its employees. The long document impressed businesses in Silicon Valley and farther afield with its sophisticated, in-depth approach to organizational culture, even promptingFacebook's Sheryl Sandberg to call it "the most important document ever to come out of the Valley." What did Netflix do right? Building outward from its internal mission to put "people over process," the company avoided hiring "superstars" with poor attitudes -- or "brilliant jerks," as CEO Reed Hastings calls them -- in favor of a flatter hierarchy and an emphasis on teamwork, communication, and honest feedback. On top of that, Netflix continues to offer enviable perks such as unlimited holidays. The result is that the company regularly topspollssurveying the best businesses to work for and has successfullymarketed itself to millennialsas a progressive West Coast technology hub without the troublesome cliches. Shopify(NYSE: SHOP)is a great example of how a healthy company culture translates to high stock returns. The e-commerce giant's employees speak glowingly of their ability to use company resources to upskill. CEO Tobias Lutke has said he "wants Shopify to be a company that sees the next century. To get us there, we not only have to correctly predict future commerce trends and technology but be the ones that push the entire industry forward." Under the hashtag #LifeatShopify, the company broadcasts its holiday parties, its onboarding process, and its employees' gifts, conveying an impression of workplace openness that is easily converted into customer trust. SinceMyWallStpicked this innovative technology company in 2016, its stock price has grown close to 600%; it has an overall rating of 4 stars out of 5 for employee satisfaction. "Don't be evil" was Google's unofficial motto and is clearly represented throughout the company culture. AlthoughAlphabet(NASDAQ: GOOGL)(NASDAQ: GOOG)changed it recently to "do the right thing," the meaning of both is blatantly clear -- Google is looking to do the right thing, and the first place they do that is on the Google campus. Google consistently receives outstanding employee reviews for the atmosphere and culture present in its offices. As well as benefits such as free meals and donation matching, Google allocates 20 hours of work time per year for employees to volunteer. Glassdoor reviews consistently cite the company's dedication to advancing employees' work-life balance. Googlers are able to take anything from cooking to coding classes on campus and are offered tuition reimbursement for university classes. The company's overall rating on Glassdoor is 4.3 out of 5 stars. Image source: MyWallSt. Check out more great articles like this at MyWallSt now. MyWallSt operates a full disclosure policy. MyWallSt staff currently hold long positions in Alphabet (Google), Netflix, and Shopify. Read ourfull disclosure policy here. More From The Motley Fool • 10 Best Stocks to Buy Today • The $16,728 Social Security Bonus You Cannot Afford to Miss • 20 of the Top Stocks to Buy (Including the Two Every Investor Should Own) • What Is an ETF? • 5 Recession-Proof Stocks • How to Beat the Market Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool's board of directors. Randi Zuckerberg, a former director of market development and spokeswoman for Facebook and sister to its CEO, Mark Zuckerberg, is a member of The Motley Fool's board of directors. The Motley Fool owns shares of and recommends Alphabet (A shares), Alphabet (C shares), Facebook, Netflix, and Shopify. The Motley Fool recommends Uber Technologies. The Motley Fool has adisclosure policy.
S&P 500 clinches new closing high after U.S.-China trade truce U.S. stocks rose Monday after the U.S. and China agreed to a trade truce during the G20 summit over the weekend. The S&P 500 ( ^GSPC ) rose 0.77%, or 22.58 points, as of market close, with the tech sector leading advances. The index briefly surpassed its previous all-time intraday high earlier Monday, reaching surging to as high as 2,977.93. It closed at a new record high of 2,964.33, eclipsing its previous closing high from June 20, and had its best start to July since 2011. The Dow ( ^DJI ) rose 0.44%, or 117.47 points, but curbed some gains after adding as many as 290 points earlier in the session. The Nasdaq ( ^IXIC ) advanced 1.06%, or 84.92 points. July’s first trading day has historically been the most bullish first day of all 12 months of the year, according to data compiled by the Almanac Trader . In the past 21 years, the S&P 500 has risen 85.7% of the time on the first day of trading in July, with an average gain of 0.42%. Equities got a boost to kick off the second half of 2019 after a meeting between President Donald Trump and China’s Xi Jinping on the sidelines of the G20 summit in Osaka, Japan ended with a de-escalation of tariff tensions, for the time being . President Donald Trump said he would refrain from imposing additional tariffs on $300 billion worth of Chinese goods. The move helped alleviate the threat of additional duties after hundreds of companies over the past several months came out against Trump’s preferred negotiation tool. Wall Street had largely anticipated that the two sides would agree to pause on additional tariffs during the summit. Less certain is whether the existing tariffs on $250 billion worth of Chinese goods will be rescinded as the two sides work toward a more permanent trade deal. A report from the Wall Street Journal ahead of the G20 summit suggested Xi Jinping would request that the U.S. lift all punitive tariffs against China as a precondition for a trade agreement. U.S. President Donald Trump meets with China's President Xi Jinping at the start of their bilateral meeting at the G20 leaders summit in Osaka, Japan, June 29, 2019. REUTERS/Kevin Lamarque In a less expected move, Trump also reversed a blacklisting of China’s Huawei, allowing U.S. companies to continue selling to the telecommunications giant so long as they do not involve parts that could threaten national security. The decision sent chip stocks including Intel ( INTC ), Qorvo ( QRVO ), Nvidia ( NVDA ) and Advanced Micro Devices ( AMD ) higher Monday morning, as many of the companies rely on Huawei as a customer. China, for its part, agreed to purchase a “tremendous” amount of goods to help ease the U.S. trade deficit, Trump said. Risk assets were bid up amid the temporary trade truce. Crude oil prices ( CL=F ) surged in lockstep with equities Monday, with a decision by OPEC and affiliated oil producers to extend cuts to crude oil production for another nine months helping to support the rally. Safe haven assets including gold ( GC=F ) and U.S. Treasuries fell, and the U.S. dollar rose ( DX-Y.NYB ) against major peers. Story continues Despite the optimism reflected in markets Monday, some analysts have already questioned the longevity of this weekend’s ceasefire, given the previous pattern of behavior between U.S. and Chinese leaders in the wake of the G20 summit in Buenos Aires in December. "This is now becoming a familiar pattern in the U.S. strategy, and one not limited to its dealings with China: to threaten the imposition of tariffs by a certain date, but then to delay that date, sometimes repeatedly,” Klaus Baader of SocGen wrote in a note Sunday. “On the fringe of the G20 Summit in Argentina in December 2018, this occurred with respect to the threatened hike to 25% from 10% of the tariffs on the $200bn list: they were first delayed and then suspended, only to be activated when talks broke down in early May – they took effect at the start of June,” he said. “The same tactic was also employed with the threatened tariffs on automobile imports, which were suspended for six months in May 2018.” Other analysts have assumed a more upbeat take on the meeting. “Optimistic observers of the developments over the weekend point to the fact that both leaders took time to meet and suggest that both sides may have learned enough from the failure of their earlier negotiation to avoid making the same mistakes twice,” John Stoltzfus, Oppenheimer chief investment strategist, wrote in a note Monday. Meanwhile, the Chinese economy showed some signs of deterioration in June before this weekend’s detente. China’s Caixin manufacturing purchasing managers’ index reflected a contraction in manufacturing activity in the country in June for the first time in four months, led by a decrease in new orders. The reading of 49.4 – down from 50.2 in May – was the lowest since January for the manufacturing sector, which comprises about one-third of China’s gross domestic product. ECONOMY U.S. manufacturing sector activity rose unexpectedly to 50.6 in June, according to IHS Markit’s final manufacturing purchasing managers’ index for the month released Monday . This was above the reading of 50.1 previously reported, and higher than the neutral level of 50, indicating expansion. While the reading held near May’s near-decade low, it was boosted slightly by a rise in new order, IHS Markit reported. “Although business optimism about the future lifted slightly higher, it remained close to survey lows to indicate persistent low morale,” Chris Williamson, chief business economist at IHS Markit, wrote in a statement. “Worries centered on signs of slowing demand both at home and internationally, weaker sales, and geopolitical uncertainty.” Meanwhile, the Institute for Supply Management reported a deceleration in U.S. manufacturing activity growth in its purchasing managers’ index, which fell to 51.7 in June from 52.1 in May. June’s reading was above consensus economist expectations for a reading of 51.0, according to Bloomberg data. The index was weighed down by a decline in raw material prices, which contracted in June for the first time since February. The sub-index tracking new orders fell 2.7 points from May to a neutral level of 50.0, indicating neither growth nor contraction in June. “Comments from the panel reflect continued expanding business strength, but at soft levels; June was the third straight month with slowing PMI expansion,” Timothy Fiore, chair of the ISM Manufacturing Business Survey Committee, said in a statement. He noted that respondents “expressed concern about the U.S.-China trade turbulence, potential Mexico trade actions and the global economy” during the survey period, which took place before this weekend’s G20 summit. — Emily McCormick is a reporter for Yahoo Finance. Follow her on Twitter: @emily_mcck Read more from Emily: Don’t say ‘IPO’: What to know about Slack’s direct listing Buffett on the American economy, capitalism: ‘It works’ Tech companies like Lyft want your money – not ‘your opinion’ Levi Strauss shares jump more than 30% above IPO price at open Facebook sued by Trump administration for alleged ‘discriminatory’ ad practices Boeing 737 Max groundings ‘pressure’ U.S. economic data: Wells Fargo Follow Yahoo Finance on Twitter , Facebook , Instagram , Flipboard , LinkedIn , and reddit . Read the latest financial and business news from Yahoo Finance View comments
US social media users unlikely to use Libra, survey shows U.S. social media users say they are unlikely to use Facebook’s cryptocurrency Libra, according to the research by financial services company Jefferies. More than 600 people have taken part in the survey, and four in five respondents said they were “Unlikely” or “Very unlikely” to buy the cryptocurrency. The survey respondents have pointed towards a lack of trust in the social media giant as their biggest concern regarding Libra (45%) despite the fact that Facebook will not have access to consumer transaction data. Almost 40% also indicated they already have a mobile payment wallet, and saw no reason for using the Libra wallet. However, there needs to be a broad-based adoption for Libra to scale successfully, the report reads. “Effectively, without substantial network effects, we do not expect Libra to replace existing forms of cashless payments—at least not in the near term.” Those who would be interested in using Libra said they’d use it to goods and/or services (12%), use Libra as a way to send money to friends/family (14%), or the combination of both (15%). However, the research points out that changing consumer purchasing behaviour does not happen overnight. In a cited survey data from PYMNTS, only a small fraction of iPhone and Android user based in the U.S. have tried Apple Pay and Android Pay—12.5 per cent and 6.0 per cent respectively. Jefferies suggests that incentives will be needed to foster usage.
Priyanka Chopra & Nick Jonas Looked All Sorts of Moody at Paris Fashion Week Fresh from her brother-in-law Joe Jonas's wedding to Sophie Turner and a weekend full of outfit changes , Priyanka Chopra just proved she's not slowing down anytime soon. Stepping out for Paris Haute Couture Fashion Week with beau Nick Jonas, the former Quantico star and the Jonas Brothers frontman looked decidedly un-summery in dark neutrals. The couple attended the Dior fashion show and sat front row at the star-studded event. Chopra wore a dark flowy emerald gown with thigh-high slit and Christian Dior black logo belt, while Jonas wore black jacket with a gray rose on it, black cargo pants and a gray collared shirt. He also carried a leather clutch. Best dressed at fashion week? That's no easy feat...but you both pulled off the win nicely. RELATED: 6 Tips from Priyanka Chopra on How to Take a Great Photo Every Time
Biden dings Trump for his handling of North Korea and Iran Former Vice President Joe Biden on Monday lambasted Donald Trump over recent foreign policy decisions, dismissing the presidents historic trip into North Korean territory over the weekend as a photo-op, while blaming Trump for the deterioration of relations with Iran. Over the weekend, Trump met with Kim Jong Un , the North Korean leader, for the third time in his presidency and became the first sitting American president to step foot in the isolated country. The meeting, which took place in the demilitarized zone between North and South Korea, was capped off by Trumps stepping onto the North Korean side of the line in a made-for-TV moment that Democrats immediately denounced as a photo-op, despite both sides agreeing to restart nuclear talks. The New York Times reported afterward that the administration is considering agreeing to a freeze of North Koreas nuclear weapons arsenal as opposed to a more comprehensive denuclearization pact, a notion rejected by national security adviser John Bolton, who was absent from Sundays summit. On Monday, Biden, the 2020 presidential front-runner, said Trump had rushed to legitimize a dictator in his talks with, and kind words for, Kim, while paving the way for Iran to breach part of the 2015 multinational pact to curb its nuclear program. Biden, who easily has the most foreign policy experience among 2020 hopefuls, has rebutted the president throughout his term as Trump has sought to unwind the Obama administrations foreign policy legacy. But Bidens criticism on Monday also came after a particularly bruising stretch for his campaign, as questions about his record on civil rights followed him into last weeks first primary debates and through the weekend. Diplomacy is important, but diplomacy requires a strategy, a process and competent leadership to develop, Biden said in a statement released by his campaign. Despite the summits, outreach and effusive praise from Trump, Biden noted that we still dont have a single commitment from North Korea. Story continues Not one missile or nuclear weapon has been destroyed, not one inspector is on the ground, he said. If anything, the situation has gotten worse. North Korea has continued to churn out fissile material and is no longer an isolated pariah on the world stage. On Iran, Biden asserted that Trumps policy of maximum pressure has produced worse than minimum results, and said that the multilateral Iran deal had been working to keep the country from developing nuclear weapons. Biden pointed to Irans rapidly escalating aggression in the region, capped off last month with the country shooting down an American drone and Trumps approving, then calling off, a retaliatory attack. A day after Trumps encounter with Kim, Iran announced on Monday that it had made good on its threat to exceed the caps on enriched uranium set out by the 2015 deal, a little more than a year after Trump withdrew the U.S. from the pact and imposed punishing sanctions on Tehran. Biden added that Trumps hard line on Iran had also alienated us from our allies, who have remained in the nuclear deal and are grappling with Irans demands to mitigate the effects of Trumps sanctions. Everything this president does is backwards, he declared.
Breaking Down Taylor Swift's Battle With Scooter Braun Over Her Master Recordings Taylor Swift shook up the internet over the weekend after she called out Scooter Braun for purchasing her former record label, Scott Borchetta's Big Machine Records . The reported $300 million deal, which was announced on Sunday, gives Braun's Ithaca Holdings ownership of a majority of Swift's masters. Swift seems to be particularly upset about the purchase landing in the hands of Braun, because she claims the talent manager (who reps stars like Demi Lovato , Ariana Grande and Justin Bieber ) has been "bullying" her for years. To break it all down, ET spoke with Variety features editor Chris Willman on Monday, who detailed the "common struggle" artists face with their labels over catalog ownership. "Scooter's company has basically acquired Big Machine, and no one likes the thought of being owned... themselves or their work," Willman explained. "When someone gets to a certain point in their career, they want ownership of what they've done. The deal she [originally] signed with Big Machine was very typical. She was in it for 13, 14 years, which is pretty typical for someone who signs a contract and then is that successful." "There's nothing really unusual about it at all. Most people don't own their masters," he continued. "That's kind of a superstar perk most of the time. The people you find owning their masters tend to be at a superstar level who've negotiated that, like Garth Brooks or Paul McCartney, who you'll see kind of shifting their catalog from label to label over time." Although Swift has reached that superstar status, Willman says there are plenty of reasons why she was potentially unable to obtain the rights to her masters. "As we see from the $300 million-plus price tag, Taylor's catalog is a huge part of what makes Big Machine valuable, so they were not going to let that go without a huge fight or payout," explained Willman. "Very few record companies are eager to let a catalog go on one of the biggest superstars in the world. That's going to be valuable forever." Story continues "They say they were in negotiations for Taylor to buy back her masters. She says she never was seriously," he continued. "People [ask], 'Could she have just bought the record company?' and that's a big question mark. Not everybody wants to be a huge label owner." Willman added that it's unclear whether Swift wanted to outbid Braun, but noted that she was "considering putting in a bid to buy the label." "We don't know why that didn't happen," he added. "I suspect that it's because Scott Borchetta had part of a deal to sell Big Machine to whoever it was but he would always still run the company, and maybe Taylor wasn't down to being tied to that for another 15 years." "You can't blame them for wanting to keep the masters, and you can't blame her for wanting them," he continued. "Both sides want to have a claim on ownership on that, and you can't say either one is in the wrong for that." Legally, however, Big Machine has had the rights to Swift's masters ever since she signed a contract with the label. "They're the ones in power in the situation and she's not, as powerful as she is," Willman explained. "Taylor's invested in her future, as she says, and Big Machine has a huge investment in the past that they don't want to let go of. With Taylor, the question is, is she just upset about not getting her masters in general, or is she upset particularly that it landed in the hands of Scooter Braun, who she considers a nemesis?" "Taylor and Scooter are both such powerful and, in their own ways, respected people in the industry," he added. "If she still wants to renegotiate to get her masters back, and Scooter has [previously] said that he would negotiate with her, at least privately, then maybe it was a mistake to go so [public] ... it affects your entire artistic output." Of course, Swift wasn't the only big name signed to Big Machine -- the label also houses artists and bands like Brett Young, Florida Georgia Line, Reba McEntire and Lady Antebellum. So, could Braun's purchase affect the rest of the country-heavy label in any way? "I'm guessing the other artists on the label are probably pretty happy about it, but maybe tempered by, 'Oh, is Scooter Braun bringing in more pop artists and turning us into a pop label?' and, 'Will the country side get downplayed a little bit?'" Willman said, adding that Braun will likely bring his own artists in. "Big Machine has been 95% a country label to date. Scooter is not buying this because he wants to run a country label; he wants to put all his stars through his label as soon as he can. So, it's going to become more of a pop-country hybrid." As ET previously reported, Swift accused Braun of bullying her with his recent purchase of Borchetta's Big Machine in a lengthy, impassioned message posted to Tumblr on Sunday. "For years I asked, pleaded for a chance to own my work. 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," wrote Swift. "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." The "You Need to Calm Down" singer continued on, claiming that she learned of the deal as it was "announced to the world" on Sunday. "All I could think about was the incessant, manipulative bullying I've received at his hands for years," she wrote of Braun. "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." Additionally, a spokesperson for Swift told ET that Swift found out about Braun's purchase from the news articles when she woke up, despite claims that Borchetta sent her a text in advance. Borchetta responded to Swift's Tumblr post on Sunday, alleging that Swift misrepresented the truth. "In regard to a post earlier today from Taylor, its time to set some things straight," his message, which you can read in full here , began. Ever since Swift posted about Braun, plenty of celebrities, including Lovato, Bieber, Halsey, Todrick Hall and Cara Delevingne, have publicly spoken out to weigh in on the situation via social media. Watch the video below to learn whose side they are on and why. RELATED CONTENT: Big Machine's Scott Borchetta Responds to Taylor Swift's Post on Scooter Braun: 'It's Time for Some Truth' Celebs Take Sides in Taylor Swift Feud With Scooter Braun: Demi Lovato, Halsey and Others Weigh In Scooter Braun's Wife Claps Back at Taylor Swift, Claims She 'Passed' on Owning Her Masters Related Articles: Hollywood Bikini Bods Over 40 Biggest Celebrity Breakups of 2019 -- So Far! Celebrities in Their Underwear
New York Governor Cuomo orders probe into Facebook's advertising platform (Reuters) - New York Governor Andrew Cuomo on Monday ordered the U.S. Department of Financial Services to investigate reports that state-regulated advertisers were using Facebook Inc's advertising platform in a discriminatory manner. This is the second investigation that the state governor has ordered into the social media company this year. In February, Cuomo ordered two state agencies to investigate a report that Facebook may be accessing far more personal information from smartphone users, including health and other sensitive data, than had previously been known. On Monday, Cuomo cited reports which said the social network allows advertisers to modify or block ads using ZIP code information to exclude consumers based on race, color, national origin, religion, familial status, sex and disability, among other classifications. Facebook did not immediately respond to a request for comment. The company is facing a similar probe at the federal level, in which the Trump administration has accused Facebook of selling targeted advertising that discriminated on the basis of race, in violation of the U.S. Fair Housing Act. The probes have come despite Facebook agreeing in March to overhaul its paid advertising platform, as part of a wide-ranging settlement with U.S. civil rights groups, which had filed five separate lawsuits accusing the company of enabling discrimination in advertising. (Reporting by Munsif Vengattil in Bengaluru; Editing by Shounak Dasgupta)
Your iPhone XR will last twice as long between charges with this $27 case Click here to read the full article. The iPhone XR has fantastic battery life. In fact, it has better battery life than any other iPhone I’ve ever owned. At the same time, battery life is like money in that you can never really have enough. If you have an iPhone XR and you want to double your battery life without spending $130 on Apple’s official battery case, we’ve got just the thing. Check out the Euhan 4200mAh Slim iPhone XR Battery Case , which is available right now on Amazon for less than $27. Here are the key details from the product page: Related Stories: AirPods 2 are back on Amazon at their lowest price yet Get a rugged Chromebook that can withstand drops and spills for $218 Amazon is blowing out Anker charging cables and accessories, today only SYNC & Portable Built-in 4200mAh, add extra 140% backup battery for iPhone XR wherever you need it. Perfect for traveling, camping, business trip or other outdoor occasions. Thin and fit your hands well. Easy to carry. Upgraded design, The iPhone XR uses the unique power of kickstand to make it easy for you to watch a video while working at your computer desk. giving you a different experience. Enjoy Music,Calling-(NOTE: please charge the battery case first before you use it to charge your iphone.)This iPhone XR battery case is compatible with iphone Lighting Headphone,which enable you to listen to music or make a phone call through the case while charging your iphone ! 4 LED POWER INDICATOR : This iPhone XR battery pack the features of 4 LED battery level indicator letting you know exactly the power you have (25%–50%–75%–100%); besides, you could switch on/off the battery case with the power switch button on the bottom. Warranty and Support: Euhan’s 7*24 online support standing by, worry-free 100% money-back guarantee, 1-Year Replacement Warranty and life-time technical support BGR Top Deals: This $16 clip-on lens kit fits the iPhone or any Android phone, and it’s awesome Amazon deal offers a 7-inch Android tablet for under $43 See the original version of this article on BGR.com
‘That wasn’t her decision’: Why Taylor Swift’s record label beef misses the point Taylor Swift is not happy with the sale of her former label, Big Machine Label Group, to mega-manager Scooter Braun’s Ithaca Holdings. Braun’s $300 million acquisition of the Nashville-based label is being financed by the Carlyle Group (CG), which took a minority stake in Ithaca in 2017. With Carlyle’s backing, Ithaca is estimated to be worth around $800 million. Ina Tumblr post, Swift cites years of “incessant, manipulative bullying” at the hands of Braun as the reason she is upset with his taking control of her six-album catalog under Big Machine. But that is a moot point, according to one industry expert. “She doesn’t like that Scooter Braun will now control the destiny of her back catalogue, but that wasn’t her decision to make,” Larry Miller, director of the music business program at NYU’s Steinhardt School, told Yahoo Finance. “Fundamentally, here is the trade that artists make who sign a traditional record deal,” Miller added. “In return for taking the risk of signing — whether they’re a new artist or an established artist — the label retains control of sound recordings under that agreement. The artist’s work becomes the property of the label.” Braun manages a slate of popular artists including Ariana Grande and Justin Bieber. He also managed Kanye West at the time the rapper and Swift clashed over West’s portrayal of her in the lyrics and the music video for the 2016 song “Famous.” Swift directly cites the way West, Kim Kardashian West, Bieber, and Braun treated her during this time in her Tumblr post, which also compared the acquisition deal with her “worst nightmares.” In 2018, Swift’s label agreement with Big Machine was set to expire, and the singer told label president Scott Borchetta she would be exploring other companies. Swift ultimately settled on Universal Music Group’s Republic Records (VIVHY). For the extent of her original contract, Universal acted as distributor for BMLG, so the company was already familiar with Swift’s body of work Miller points out. The singer writes that she “learned about Scooter Braun’s purchase of my masters as it was announced to the world,” and went on to list what she claims are instances of bullying perpetuated by his clients. Including a phone call that Kardashian West recorded that appears to feature Swift signing off on “Famous.” Borchetta pushed back on the claim that Swift was unaware of the deal, which was first reported on by the Wall Street Journal on Sunday. Ina blog post, Borchetta writes that he extended the courtesy of giving Swift a heads up about the deal with Braun via text. Similarly, he says Swift gave him the same courtesy prior to announcing her deal with UMG. Borchetta also claimed Swift’s father Scott was aware of the deal, having taken part in a shareholders’ call last week. Swift’s representatives have refuted this, claiming the father did not want to have information he would have to withhold from his daughter. HuffPost U.K. entertainment reporter Daniel Welsh told YFi AM simply that “it's essentially a case of a big label versus Taylor Swift, and it is kind of hard to know who is telling the truth.” Welsh breaks down the timeline and the controversy of the dealhere. In his blog post, Borchetta detailed the proposal BMLG offered to Swift at the time she was shopping for a new deal last summer. As part of a new 10-year contract, the label was willing to turn over the rights to Swift’s masters. Swift and her team requested the obligation be lessened to seven years, and the two sides never reached an agreement. “They included offering her back 100% ownership of...everything that they had the rights to and enter into a new agreement,” Miller explains. “She had every opportunity to re-sign with Big Machine and get all of her masters back.” Under the agreement with Republic, Swift retains the rights to any new music released, including the forthcoming “Lover.” Braun’s Ithaca Holdings will retain the rights to her six previous albums. In the past, artists haven’t had much choice in how their bodies of work are handled, having signed to traditional label deals, much like that which Swift wanted to get out of with BMLG. When a major label holds the archives of hundreds of musicians, those artists don’t have much, if any, say in how the masters — in both their physical and their intellectual property forms — are maintained. So it seems that Swift has turned a business transaction personal. Swift reportedly did not want to re-sign with BMLG for fear of being sold off to another label. Miller explained that once it was clear the label’s biggest artist would be leaving, “It became a foregone conclusion that Big Machine would sell to someone. “Unfortunately,” Miller added, “Taylor claims that she doesn’t like that person.” Katie is an associate editor at Yahoo Finance. Follow her onTwitter. Read More: • Here’s how the Beats Powerbeats Pro compare to Apple’s AirPods • Jony Ive, designer of the iPhone, is leaving Apple Follow Yahoo Finance onTwitter,Facebook,Instagram,Flipboard,SmartNews,LinkedIn,YouTube, andreddit.
Minimum wages rising in these states, cities Monday marks the start of a newfiscal yearfor manystate governments, ushering in a number of minimum wage increases across the country. In January, Democrats on Capitol Hill introduced the “Raise the Wage Act,” which aims to gradually increase the federal minimum wage to $15 by 2024. The legislation has more than 180 co-sponsors, including support from House Speaker Nancy Pelosi, D-Calif., and Senate Minority Leader Chuck Schumer, D-N.Y. The current federal minimum wage is $7.25 – which Independent Vermont Sen. Bernie Sanders, who is running for president in 2020, has called a “starvation wage.” While not all Republicans are opposed to raising the minimum wage, some – including White House economic adviser Larry Kudlow – think states should make those decisions, rather than the federal government. Here’s a look at some of the states and cities where minimum wages are increasing on Monday: New Jersey In New Jersey, the minimum wage rose to $10 per hour, up from $8.85. The 13 percent increase is part of the state legislature’s five-year plan to increase wages to $15 per hour by 2024. Oregon Minimum wage workers in Oregon saw their hourly pay rise by $0.50 on Monday. The minimum wage is now $12.50 in Portland, $11 in more rural areas and $11.25 for everywhere in between. Wages in the state are set to gradually increase through 2022. Minneapolis, Minnesota The minimum wage for small businesses in Minneapolis rose to $11 per hour – including those companies that have 100 employees, or less. For larger businesses, the minimum pay rate increased to $12.25 per hour. Large employers in the state will be required to adhere to an hourly wage rate of $15 by July, 2022. Washington, D.C. In the nation’s capital, wages increased to $14, from $13.25. Chicago, Illinois In the Windy City, the minimum wage rose to $13 per hour, up from $12. CLICK HERE TO GET THE FOX BUSINESS APP California Several counties in California also hiked their minimum wages on Monday. In Berkeley, the new minimum wage is $15.59, up from $15. The same hike will affect workers in San Francisco. In Los Angeles, minimum wages rose to $14.25 for employers with 26 or more employees – the same for Malibu. Related Articles • Fmr. Notre Dame Coach Lou Holtz Predictions for Trump vs. Media • Trump May Have Dropped Another Clinton Bombshell • Carson: Trump Could Destroy Obama's Legacy
3 Semiconductor Stocks to Consider in G20 Aftermath On Monday, U.S. stocks are rising in response to the news of President Trump and Chinese leader Xi Jinping agreeing to hold off tariffs in order to resume trade talks. In addition to the ceasefire, President Trump announced that the U.S. will ease its regulations against American chipmakers selling their products to Chinese telecommunications giant Huawei. The major indexes initially soared before paring back a bit amid the reached agreement at the G20; the S&P 500 rallied 1%, reaching an all-time high, while the DJIA rose 0.9%, and the NASDAQ Composite went up by 1.7%. Semiconductor stocks who were previously battered by the Huawei restrictions spiked broadly. Skyworks Solutions SWKS saw a more than 6% hike, Micron MU rose over 4%, and Broadcom AVGO jumped over 3%. With semiconductors reaping the benefits of the temporary harmony between the U.S. and China, let’s see which chipmakers can use this momentum to break out to significant returns. Advanced Micro Devices Advanced Micro Devices AMD has had a spectacular year thus far, with shares soaring 69.5% year-to-date. Piper Jaffray’s Chief Market Technician Craig Johnson commented on his enthusiasm for the stock, stating “A close above $33.50 on that stock would be a nice topside breakout and see an objective that would take the stock up into the mid-$40s.” If the chipmaker were to be able to reach $45 that would cement a 50% markup. AMD is currently a Zacks Rank #3 (Hold) and was able to surpass earnings estimates last quarter for an EPS surprise of 20%. Our Zacks Consensus Estimates are currently projecting 69.23% earnings growth with a 16.96% increase in revenue for the next quarter. Double digit earnings growth is forecasted through the following year as well. The semiconductor is expected to grow substantially through the following years to come and would be a good consideration for investors looking for a sound long term investment. Diodes Diodes DIOD is another semiconductor stock that has already seen some solid growth recently. The chipmaker has been able to outpace our consensus estimate the past four quarters for an average EPS surprise of 8.33%. Diodes is up 18.5% in the last month and our consensus estimates are projecting the stock to sustain the growth. For the current quarter, earnings are projected to grow almost 9% from the prior-year quarter, and current estimates sit at $0.75. Year-over-year estimates are calling for an earnings surge of 17.65% and a sales increase of 2.33% for the next quarter. Diodes is also currently trading at a discount relative to its industry average at just under 13X its forward earnings. The company looks to keep up the recent trend into the second half of the year with the recent boost the industry has experienced. Qualcomm Qualcomm QCOM is one of the stocks listed on Goldman Sachs GS list of companies with the most revenue exposure to China. The company has a whopping 67% of its revenue exposed to China, making the company especially vulnerable to continued tariffs and trade restrictions. The recent ceasefire agreement between the two countries sent the stock soaring by as much as 6% in intraday trading. Qualcomm is currently sitting at a Zacks Rank #3 (Hold) and has also been on a recent uptrend. The semiconductor stock has seen an increase of 35.9% year-to-date stemming from a 33.1% surge over the past 3 months. The company has been able to beat our consensus estimate the past four consecutive quarters, for an average EPS surprise of 17.56%. For the current fiscal year, earnings are projected to grow roughly 3.5% on a year-over-year basis, while EPS could see double-digit growth next year. If the U.S. and China can come to terms and reach a trade deal, Qualcomm shareholders can rest assured and the stock can be free to continue its recent success. The Hottest Tech Mega-Trend of AllLast year, it generated $8 billion in global revenues. By 2020, it's predicted to blast through the roof to $47 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for regular investors who make the right trades early.See Zacks' 3 Best Stocks to Play This Trend >> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.Click to get this free reportSkyworks Solutions, Inc. (SWKS) : Free Stock Analysis ReportQUALCOMM Incorporated (QCOM) : Free Stock Analysis ReportBroadcom Inc. (AVGO) : Free Stock Analysis ReportAdvanced Micro Devices, Inc. (AMD) : Free Stock Analysis ReportDiodes Incorporated (DIOD) : Free Stock Analysis ReportThe Goldman Sachs Group, Inc. (GS) : Free Stock Analysis ReportMicron Technology, Inc. (MU) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research
EMERGING MARKETS-Latam stocks, FX rally on U.S.-China trade reprieve (Updates prices) By Susan Mathew July 1 (Reuters) - Most Latin American currencies and stocks made a positive start to the second half of the year on Monday as the United States and China agreed to revive trade negotiations after a long lull, spurring investment into riskier assets. U.S. President Donald Trump offered concessions to China on Saturday when he met Chinese President Xi Jinping at the G20 summit, including holding off on new tariffs and easing restrictions on tech company Huawei. China agreed to make unspecified new purchases of U.S. farm products and restart negotiations. Most regional stocks rose in line with world stocks, and currencies firmed against a significantly stronger dollar, but ended off session highs. Mexican assets led gains, with the peso - a weather vane for trade sentiment, up 0.5%, while its IPC stock index climbed 0.7%. Investors seemed to brush-off data showing Mexican manufacturing slipped to a 20-month low in June. "The G20 result was mostly as expected, but the partial re-start of exports to Huawei was a positive surprise," Citigroup analysts wrote in a note. "This should benefit EMFX, but it is unlikely to be a game changer for the trade dynamics." Fears that a drawn-out trade dispute between the United States and China will hit global growth have spurred bouts of selling this year, with MSCI's index of emerging market stocks and currencies posting their worst monthly performance this year in May. But hopes that major central banks would tilt toward monetary policy easing to stir growth, and signs of progress in Sino-U.S. trade relations have helped them recover since. Brazil's real firmed 0.1% on Monday, while Sao Paulo-traded stocks rose 0.5%. Data on Monday showed manufacturing in Brazil avoided slipping into contraction in June. The Argentine peso was boosted by the central bank's move to set a new lower interest rate floor on its benchmark "Leliq" notes at 58% for July. The weekend also saw the European Union and South American bloc Mercosur, which Argentina and Brazil are part of, agreeing to a free trade treaty and committing to more open markets. If ratified, Credit Suisse analysts said the treaty would be a boost for Argentina's trade and investment prospects over the medium term. "With this deal, Argentina would be committed to improving some legal and regulatory standards. It could also make it more difficult for future governments to implement punitive trade measures," the Credit Suisse analysts said in a note. Chile's currency and stocks, however, slipped, hurt by the price of copper - Chile's main export, ending lower. Markets in Colombia were closed for a holiday. Latin American stock indexes and currencies at 1957 GMT: Stock indexes Latest Daily % change MSCI Emerging Markets 1062.48 0.72 MSCI LatAm 2852.15 0.3 Brazil Bovespa 101458.14 0.49 Mexico IPC 43456.62 0.68 Chile IPSA 5064.69 -0.12 Argentina MerVal 41497.73 -0.71 Currencies Latest Daily % change Brazil real 3.8437 -0.12 Mexico peso 19.1230 0.49 Chile peso 680.02 -0.53 Peru sol 3.289 0.15 Argentina peso 42.3500 0.38 (interbank) (Reporting by Susan Mathew in Bengaluru; editing by Grant McCool)
Investors See Returns as Virtual, Augmented, And Mixed Reality Are Entering the Workplace Over the last few years, you would be forgiven for thinking that virtual reality, mixed reality, and augmented reality, are areas of tech that reside firmly in the domain of the gamers and entertainment industries. There is good reason for this, virtual reality has always been the poster child for immersive entertainment, while augmented and mixed reality have made waves recently with games such as Pokemon Go, and hardware such asMicrosoft’s (NASDAQ:MSFT) HoloLensrespectively. While all three areas of this tech will still be very much involved within the entertainment fields, we are also starting to see the first implementations of the technology within the workplace rolling out, and some of the ways they are being used are going to be extremely useful, and for the technology enthusiasts out there, very exciting too. The four big players right now in the VR hardware space areMicrosoft(NASDAQ: MSFT),HTC(Taiwan:2498), Facebook Inc (NASDAQ:FB)’s Oculus, andSony(NYSE:SNE). While the later has concentrated on using their VR headset as a purely entertainment-based piece of kit, Microsoft Corporation (NASDAQ:MSFT), Oculus (owned by Facebook Inc.) and HTC have positioned their headsets as both entertainment and business orientated. When it comes to AR and MR, pretty much every tech company under the sun is getting in on the act, as even the average smartphone can now utilize this new technology. In the US alone, it is estimated that42.9 million peoplewill use some sort of VR application in 2019, while the number that will use AR is anastonishing 68.7 million. Food for thought, if you happen to be interested in investing in a company who is flirting with the idea of getting involved in this market. Mixed Reality Mixed reality (MR) is perhaps the most obvious of the three technology types to be entering the workplace, and it is going to radically change the way we work, and in particular, how we train workers. Take Microsoft Corporation’s (NASDAQ:MSFT) Hololens as an example, this rather amazing piece of kit has the ability to place graphical overlays on top of real-world objects, and withsoftware such as Holo4Labsrunning on it, the possibilities are quite tantalizing. Picture the scene, a new member of staff joins a laboratory that deals with the creation of custom medicines. Confronted with hundreds of different components, tools and instructions, this is a job that is fraught with the possibility of making mistakes. Not only that, but having another staff member mentoring the worker can be time-consuming and, for the mentor, quite tedious after they have done this for the tenth time in a year. With HoloLens, powered byHolo4Labssoftware, the new member of staff will be shown directions on how to create any product necessary directly on the screen in front of their eyes, with information being displayed when they pick up a particular jar, or a warning appearing if they happen to pick up the wrong item in the first place. Whilst mentoring will still be needed in the beginning, Mixed Reality applications can take over the reins soon after, and allow other members of staff to get on with their daily routines, while also allowing the new member of staff to work away safely, while still being given instructions and guidance when necessary. Augmented Reality Augmented reality (AR) is, to all intents and purposes, is pretty similar to MR. So much so, that often the terms are used interchangeably to mean the same thing. We may even find that one term simply melts away in the near future, leaving one label to include both tech types, but for now, there is a small technical difference between the two, in that AR overlays do not respond to, or interact with the real-world physical environment, whereas MR overlays do. In this respect,AR suits the workplacein industries that require things such as timers or GPS locations to be displayed at all times, such as on a production line where a constant flow of products has to be produced within a certain time parameter. Within the AR display, lists of components could be seen, a guide on how to assemble them, while a timer warns the worker of when the next product needs to be started. Think of AR in the workplace as a useful screen that is constantly viewable, with information relevant to the job being performed. With 70% of consumers believing AR can benefit their lives, and the market value of AR currently standing at$3.5 billion, it is safe to say that AR is going to be a big player in the near future, and we can only expect its value to rise when more industries realise the potential it has. Virtual Reality Virtual reality (VR) has uses within the workplace that are pretty obvious when you think about it. Real Estate agents can show prospective buyers houses that aren't even built yet,giving virtual toursto anyone finding it difficult to envisage how a finished property would look in the middle of a current building site. Designers can show team members how a new car design would look in 3d, from any angle, and at any distance. Even boring VOIP meetingscan be transformed into useful collaboration spaces, where workers and their avatars inhabit a virtual space used to meet, interact, and watch presentations together in a 3d virtual world. When it comes to VR, anything is possible. With headsets now coming down in price, and the ability to slip the average smartphone into a VR ‘holder’ to view content, even the advertising departments of some companies are getting in on the act when it comes to utilizing virtual reality. After all, what better way is there to show off your latest product than to allow prospective customers to see it for themselves in 3d? [caption id="attachment_766078" align="aligncenter" width="700"] MeetinVR lets companies conduct meetings in VR-based collaboration settings[/caption] Whatever company, and whichever industry; VR, MR, and AR, are going to be used in a whole plethora of ways to make working easier and products better. From the design team to the production and advertising departments, uses for these new advances in tech are going to allow us to work smarter and in ways we never thought possible a few decades ago. So before you go labeling these new headsets as a video gaming fad, it might be worth considering how they are being applied in workplaces right now, and in what ways they may be integrated further in the future.
The Latest: Coke plant: State shutdown move 'quite a shock' ERIE, Pa. (AP) — The Latest on state environmental department moves to shut down coke plant (all times local): 4:15 p.m. An official with a northwestern Pennsylvania coke plant says the move by state environmental regulators to shut it down came as "quite a shock." The Pennsylvania Department of Environmental Protection said Monday it denied Erie Coke Corporation's operating permit renewal and had gone to Erie County Court seeking a shutdown, citing "years of numerous repetitive environmental violations." Ed Nesselbeck, Erie Coke's environmental director, says the company had been working hard on a detailed compliance plan, which it submitted in April. He says "We've taken on herculean effort and thought we were making great progress." The department said Erie Coke had been given many opportunities to address the violations, but the "frequency and severity" of the violations had only increased. 2:50 p.m. State environmental regulators are moving to shut down a coke plant in northwestern Pennsylvania, citing "years of numerous repetitive environmental violations." The Pennsylvania Department of Environmental Protection said Monday it has denied Erie Coke Corporation's application to renew its operating permit and filed a complaint in Erie County Court to shut down the plant. The department said it had received "persistent complaints" from the community for more than a decade, but although Erie Coke had been given many opportunities to address the violations, the "frequency and severity" of the violations had only increased. Ed Nesselbeck, Erie Coke Environmental Director, told the Erie Times-News that the company was reviewing the department's statement. He told WICU-TV last week that environmental compliance "though challenging, will be doable" and asked for "cooperation and patience."
Deutsche Börse-operated Xetra lists first blockchain company Blockchain company Advanced Blockchain AG has been listed on the Xetra platform,DGAP.de reports, making it the first blockchain company whose shares are tradable on the platform. Prior to the Xetra listing, Advanced Blockchain AG shares also became available on Frankfurt Stock Exchange in January. The company designs and implements blockchain software for businesses. What's more, it has also launched the peaq project with its subsidiary nakamo.to GmbH. It has also created a DAG framework "DAGchain"—a base-layer protocol designed to get rid of vulnerabilities associated with traditional blockchain systems as well as DAG-specific consensus problems. Xetra is a Frankfurt-based exchange operated by the Deutsche Börse. You can trade stocks, funds, bonds, warrants and commodities contracts on the platform. The platform is used in 16 European countries, Hong Kong and the United Arab Emirates.
Did You Miss Woolworths Group's (ASX:WOW) 59% Share Price Gain? Want to participate in ashort research study? Help shape the future of investing tools and you could win a $250 gift card! One simple way to benefit from the stock market is to buy an index fund. But if you buy good businesses at attractive prices, your portfolio returns could exceed the average market return. For example,Woolworths Group Limited(ASX:WOW) shareholders have seen the share price rise 59% over three years, well in excess of the market return (24%, not including dividends). However, more recent returns haven't been as impressive as that, with the stock returning just 12% in the last year, including dividends. View our latest analysis for Woolworths Group To quote Buffett, 'Ships will sail around the world but the Flat Earth Society will flourish. There will continue to be wide discrepancies between price and value in the marketplace...' By comparing earnings per share (EPS) and share price changes over time, we can get a feel for how investor attitudes to a company have morphed over time. During the three years of share price growth, Woolworths Group actually saw its earnings per share (EPS) drop 21% per year. So we doubt that the market is looking to EPS for its main judge of the company's value. Therefore, we think it's worth considering other metrics as well. Do you think that shareholders are buying for the 2.4% per annum revenue growth trend? We don't. While we don't have an obvious theory to explain the share price rise, a closer look at the data might be enlightening. The graphic below depicts how earnings and revenue have changed over time (unveil the exact values by clicking on the image). We consider it positive that insiders have made significant purchases in the last year. Even so, future earnings will be far more important to whether current shareholders make money. You can see what analysts are predicting for Woolworths Group in thisinteractivegraph of future profit estimates. It is important to consider the total shareholder return, as well as the share price return, for any given stock. 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. Arguably, the TSR gives a more comprehensive picture of the return generated by a stock. We note that for Woolworths Group the TSR over the last 3 years was 75%, which is better than the share price return mentioned above. The dividends paid by the company have thusly boosted thetotalshareholder return. It's good to see that Woolworths Group has rewarded shareholders with a total shareholder return of 12% in the last twelve months. That's including the dividend. Since the one-year TSR is better than the five-year TSR (the latter coming in at 1.8% per year), it would seem that the stock's performance has improved in recent times. Given the share price momentum remains strong, it might be worth taking a closer look at the stock, lest you miss an opportunity. Investors who like to make money usually check up on insider purchases, such as the price paid, and total amount bought.You can find out about the insider purchases of Woolworths Group by clicking this link. 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.
The Latest: Prosecutor: killing shown in Navy SEAL's words SAN DIEGO (AP) — The Latest on the court-martial of a decorated Navy SEAL charged with murder and attempted murder (all times local): 1:25 p.m. A military prosecutor says a Navy SEAL committed murder, and the proof is in his own words, his own photos and the testimony of his fellow troops. Cmdr. Jeff Pietrzyk said Monday during closing arguments that text messages by Special Operations Chief Edward Gallagher show he is guilty to fatally stabbing a wounded Islamic State prisoner on May 3, 2017. The prosecutor also says that another SEAL who changed his story and claimed to have killed the militant himself was lying to protect Gallagher. Defense lawyer Tim Parlatore says evidence is lacking in the case. There's no body, no forensics and Gallagher's fellow SEALS lied because they didn't like his demanding leadership. Parlatore says the case is not about murder, but mutiny. ___ 7:20 a.m. Closing arguments are set to begin in the court-martial of a decorated Navy SEAL charged with murder and other crimes in Iraq. The prosecution is expected to begin summing up its case against Special Operations Chief Edward Gallagher on Monday in San Diego. Gallagher is accused of fatally stabbing a wounded Islamic State prisoner on May 3, 2017. He's also charged with attempted murder and conduct prejudicial to good order and discipline for posing with the corpse for photographs. His attorneys contend Gallagher is being falsely accused by junior SEALs who wanted to oust a platoon chief they hated. One SEAL testified that he was the one who ultimately killed the teen by plugging his breathing tube with his thumb as an act of mercy.
Why Wynn Resorts, Rite Aid, and Acacia Communications Jumped Today The stock market got off to a good start to the second half of the year on Monday, as investors were pleased to see some positive news come out of the weekend's G-20 meeting in Japan. In particular, prospects for continued trade negotiations between the U.S. and China once again raised hopes that the two nations would be able to put their disputes behind them and move forward in a more economically productive way. Skepticism later in the session watered down some of Wall Street's early gains, but several stocks still had impressive share-price boosts.Wynn Resorts(NASDAQ: WYNN),Rite Aid(NYSE: RAD), andAcacia Communications(NASDAQ: ACIA)were among the top performers. Here's why they did so well. Shares of Wynn Resorts gained 6% after the casino resort giant got good news from the Asian market. The latest monthly numbers from the Gaming Inspection and Coordination Bureau in Macao came out, and they showed an unexpectedly strong rise of 5.9% in gambling revenue within the Chinese administrative territory.Macao has become a crucial partof the casino industry worldwide, and Wynn in particular has invested heavily there, with multiple properties. Even though the recent opening of the company's Boston-area property is getting a lot of attention right now, Wynn will keep relying on strength in Macao to drive overall growth. Image source: Wynn Resorts. Rite Aid's stock continued to gain ground Monday, picking up another 7% after a huge boost last week. The drugstore chain saw disappointing results in its fiscal first-quarter financial report, butRite Aid announcedthat it would work withAmazon.comto provide pickup facilities in more than 1,500 of its stores by the end of the year. Some think the move could be a precursor to Amazon making a full acquisition bid for Rite Aid, but given that the e-commerce giant has made similar distribution deals with other retailers, that's likely justwishful thinking on the part of Rite Aid shareholders. Finally, shares of Acacia Communications rose 7%. The optical connectivity products specialist had found itself in the spotlight when China's Huawei came under fire in the trade disputes between the U.S. and China, and some feared that Acacia would suffer from no longer being able to sell its components to the blacklisted company.Acacia itselfhad said it expected little impact from the move, but that didn't stop shareholders from reacting negatively. Conversely, now that trade relations between the U.S. and China look a little better, investors seem to be pushing Acacia stock higher. Even with the day's gains, though, Acacia shares are still well below where they started the year. More From The Motley Fool • 10 Best Stocks to Buy Today • The $16,728 Social Security Bonus You Cannot Afford to Miss • 20 of the Top Stocks to Buy (Including the Two Every Investor Should Own) • What Is an ETF? • 5 Recession-Proof Stocks • How to Beat the Market John Mackey, CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool's board of directors.Dan Caplingerowns shares of Wynn Resorts. The Motley Fool owns shares of and recommends AMZN. The Motley Fool has adisclosure policy.
Trumps foreign luxury resorts collide with his South Korea diplomacy SEOUL, South Korea While visiting South Korea over the weekend, President Donald Trump tried to strike a deal with President Moon Jae-in to get more companies to invest in the United States. But even as he pushed American interests, a partner of Trumps namesake company is aggressively expanding plans to build luxury Trump-branded resorts in Indonesia and the project involves a construction company partly owned by the South Korean government. Its not clear whether Trump brought up the Indonesia projects during his talks with Moon. But the meeting represented the latest example of the blurred lines between Trumps official diplomatic work and his business interests. The expansion of the project that now has the South Korean government attached to it seems to run afoul at least in spirit of Trumps pledge that the Trump Organization will not enter into any new foreign deals while in office. The project in question got more complicated, ethics-wise, when the developer of a Trump luxury resort signed a previously unreported $120 million contract last September with a construction company partly owned by the South Korean government to build a six-star hotel, an 18-hole golf course and theme park that has been compared to Disney World. A company statement announcing the contract with Posco said financing would come from KEB Bank and IBK Securities, a state-owned bank of Korea. The developer, MNC Land, inked an agreement with Posco E&C Indonesia to build what is being billed as Trump Community in Lido City, Indonesia. Posco also expects to build a second Trump resort in Bali, Indonesia, a company official said in a previously reported statement. In addition to the new town development project in Lido, we expect to receive orders for the Bali Trump Resort Project, a Posco E&C official said in the statement. In a little-noticed company update in February, MNC wrote that an aggressive global expansion of the Trump international portfolio was underway with numerous projects in the pipeline. The document doesnt provide details of the projects. Story continues Trumps ongoing business deals have spurred questions about whether his actions as president are based on whats best for the country or whats best for his companys bottom line. In a break from his predecessors, Trump refused to fully separate from his company despite repeated calls for him to do so. Instead, he put his holdings in a trust though he can receive money at any time and revoke the trust at any time. It is impossible to tell where the Trump Organization ends and the Trump administration begins, said Rep. Gerry Connolly (D-Va.), a member of the House Oversight Committee. This is why the founders included the emoluments clause in the Constitution expressly forbidding a president from profiting in and from his office. The latest agreement with Posco could violate the Constitution which bars officials from accepting money or gifts from foreign governments, according to lawmakers and ethics experts. Trump already faces several lawsuits, including one filed by Connolly and other Democratic members of Congress , that he is violating the emoluments clause. The president and his family are monetizing the presidency in every way they possibly can, Connolly said. Conflicts of interest abound, and yet the president refuses to divest. The Trump Organization, MNC and Posco did not respond to questions. But officials at the Trump Organization, now run by the presidents adult sons, have previously said their partners not them contract with other companies. The Trump Organization often only licenses its name and manages the resort, they say. Before he was sworn into office, Trump vowed his company would not engage in new foreign deals or new transactions with a foreign country or official. The Trump Organization withdrew from some foreign projects but not others. Company officials consider projects, such as Lido City, as unfinished but not new while ethics experts say they are new because they are signing new contracts. Noah Bookbinder, executive director of Citizens for Responsibility and Ethics in Washington, a watchdog group that filed one of the emoluments lawsuits, said Trump over the course of his presidency has shown no interest in trying to curtail his business interests or in trying to discourage foreign governments and foreign companies from doing business with him. There have now been interests where you have to at least question whether his decision making has been influenced," Bookbinder said. I think hes doesnt get the benefit of the doubt at this point. Trump spent the weekend in South Korea meeting with Moon about a variety of issues, including North Koreas nuclear threat and a newly implemented trade agreement between the two countries. Before he arrived in South Korea Saturday, Trump spent two days in Japan for a gathering of the worlds 20 largest economies, meeting with world leaders , including Crown Prince Mohammad Bin Salman of Saudi Arabia. Both Korea and Saudi Arabia have ties to Posco. Saudi Arabias Public Investment Fund purchased a 38 percent stake in Posco E&C, a subsidiary of steelmaker Posco. South Koreas public pension fund owns 10.72 percent of Posco, according to a March auditors report. Several prominent government officials from both countries attended an event in Jakarta in 2017 to celebrate the partnership of MNCs and Poscos subsidiaries, according to reports in foreign media. The previously unreported contract was finalized late last year. Trump has repeatedly minimized potential problems with his business. Its not a big deal you people are making it a big deal, the business, he told reporters at one of his regular visits to his Florida resort Mar-a-Lago. When I won, they all knew I had a big business all over the place. Several other state-owned companies signed onto the Lido City project before Trump was elected including Korea Land and Housing , China Metallurgical Corporation Group and Chinese Export and Credit Insurance . When Trump was elected in 2016, construction was just starting. MNC expects to begin selling homes and golf memberships for both Indonesia developments this year. The Trump International Hotel and Tower Lido project, located in the tropical forests, will include a theme park, hotel, country club and an 18-hole golf course designed by famed South African golfer Ernie Els, according to promotional material.
Why Freeport-McMoRan, Coty, and Adaptive Biotechnologies Slumped Today Wall Street had a big celebration on Monday, with major benchmarks soaring after signs out of the G-20 meeting in Japan suggested that a favorable resolution to the trade dispute between the U.S. and China might be more likely. Gains of more than 1% came early in the morning, although the market gave up some of that ground as the session progressed. Some stocks missed out entirely on the rally, however, finishing lower in the wake of discouraging news. Freeport-McMoRan (NYSE: FCX) , Coty (NYSE: COTY) , and Adaptive Biotechnologies (NASDAQ: ADPT) were among the worst performers. Here's why they did so poorly. Freeport gets tarnished Shares of Freeport-McMoRan lost 1.5% after having been down much more sharply earlier in the session, as the copper, gold, and energy producer cut its outlook for the second quarter. The company said that lower gold production will weigh on its results, as well as relatively low copper prices. At the same time, Freeport now expects its cash costs to be higher than anticipated, largely due to lower volume produced from its Indonesian operations. To some extent, these factors are more a matter of timing than of permanent losses of business, as Freeport hopes that these reductions in gold and copper sales will merely get deferred to later periods. Investors will get a better look at what's happening at Freeport-McMoRan when it releases its full financial results on July 24. Open pit mine near sunset with light-up equipment and mountains in background. Image source: Freeport-McMoRan. Coty makes a big move Coty saw its stock fall 13.5% following the beauty product manufacturer's decision to restructure its operations. The company said it would write down roughly $3 billion in asset impairment charges on businesses that it bought from consumer products giant Procter & Gamble three years ago, with anticipated one-time cash costs of $600 million tied to the restructuring efforts. Coty hopes that by making the move, it can rediscover a pathway to future growth and become a leader in operational efficiency. Yet with e-commerce starting to eat into sales of beauty products , Coty could find itself facing a bigger challenge than it expects. Story continues Adaptive gives back some ground Finally, shares of Adaptive Biotechnologies plunged 17%. The life-sciences research company just had its initial public offering last week, and its stock soared from its pre-market pricing of $20 per share to double on its first day. Further gains ensued as investors jumped onto the bandwagon, and many of those following Adaptive have high hopes that its strategy of focusing on immune system genetic solutions will pay off with promising treatments. However, after such a huge post-IPO run-up, a slight pause is natural. Adaptive isn't the only successful biotech IPO this year , but it has promise to become a bigger player over the long run. More From The Motley Fool 10 Best Stocks to Buy Today The $16,728 Social Security Bonus You Cannot Afford to Miss 20 of the Top Stocks to Buy (Including the Two Every Investor Should Own) What Is an ETF? 5 Recession-Proof Stocks How to Beat the Market Dan Caplinger has no position in any of the stocks mentioned. The Motley Fool is short shares of Procter & Gamble. The Motley Fool has a disclosure policy .
Wind Power to Lift Alternative Energy Space in the Near Term The Zacks Alternative Energy industry can be fundamentally segregated into two sets of companies. While one group is involved in the generation and distribution of alternative energy and electricity from sources like wind, natural gas, biofuel, hydro and geothermal, the other set is engaged in development, design and installation of renewable projects involving these alternative energy sources. The industry also includes a handful of stocks that offer fuel cell energy solutions, which have gained popularity as an affordable clean energy of late. Per the latest Global Trends in Renewable Energy Investment report, 2017 marked the eighth year in a row in which global investment in renewables exceeded $200 billion. Since 2004, the world has invested $2.9 trillion in green energy sources. Here are the industry’s three major themes: • Among alternative energy sources, wind energy has made commendable progress in the United States lately. Per American Wind Energy Association’s latest report, the U.S. wind industry added 7,588 megawatts (MW) in 2018 and another 841 MW in the first quarter of 2019. U.S. wind power has more than tripled over the past decade and is the largest source of renewable generating capacity in the nation currently. With increased focus of energy developers on large-scale off-shore wind projects, the recent tax credit extension bills introduced by the U.S. Senate should bode well for growth of the U.S. wind space. With projections that wind power is slated to surpass hydropower as the U.S. grid’s largest source of renewable electricity in 2019, the outlook for the alternative energy industry seems favorable. • The outlook for the alternative energy industry is also encouraging as utilities and corporations are increasingly shifting to renewables. This shift can be attributed to lower cost of generating electricity from alternative energy sources and storing the same, thanks to rapid technological advancements. Per International Renewable Energy Agency, cost of all commercially available renewable power generation technologies declined in 2018. By 2020, onshore wind is projected to be a less expensive source of new electricity than the cheapest fossil fuel alternative. This indicates that alternative energy sources can be profitable for industry players. Thus, stocks in this industry should remain prudent choices for investors. • Per a report by S&P Global Platts, with U.S. states increasingly adopting favorable renewable portfolio standards, existing technologies are not adequate to support their ambitious 100% clean energy goals. In particular, the stakes are high when it comes to transmission costs. Per a report by Wood Mackenzie, the United States currently has about 200,000 miles of high-voltage transmission (HVT) and achieving 100% renewables will require doubling of these transmission lines. The addition of 200,000 miles of new HVT will add $700 billion to the total price of grid decarbonization, excluding the cost of materials. Zacks Industry Rank Indicates Gloomy Prospects The Zacks Alternative Energy industry is housed within the broader Zacks Oils-Energy sector. It carries a Zacks Industry Rank #175, which places it in the bottom 31% of more than 250 Zacks industries. The group’s Zacks Industry Rank, which is basically the average of the Zacks Rank of all the member stocks, indicates dull near-term prospects. Our research shows that the top 50% of the Zacks-ranked industries outperforms the bottom 50% by a factor of more than 2 to 1. Before we present a few alternative energy stocks that you may want to consider for your portfolio, let’s take a look at the industry’s recent stock-market performance and valuation picture. Industry Lags S&P 500, Outperforms Sector The Alternative Energy Industry has underperformed the Zacks S&P 500 composite but outperformed its own sector over the past year. The industry has declined 8.1% while the Oils-Energy Sector declined 14.2% in the said time frame. The S&P 500 meanwhile has gained 6.6%. One-Year Price Performance Industry’s Current Valuation On the basis of trailing 12-month EV/EBITDA ratio, which is commonly used for valuing alternative energy stocks, the industry is currently trading at 3.4 compared with the S&P 500’s 11.29 and the sector’s 4.94. Over the last five years, the industry has traded as high as 6X, as low as 1.90X, and at the median of 3.92X, as the charts show below. EV-EBITDA Ratio (TTM) Bottom Line Thanks to rapidly declining costs of producing electricity from renewable sources of energy, particularly wind, renewables are likely to become a major source for electricity generation in the coming years. However, details on how to get the last 10-20% of carbon emissions out of the electric grid are not known certainly. Moreover, fossil-fuel combustion from residential and commercial buildings accounts for roughly 29% of total U.S. greenhouse gas emissions. So, if the country is determined to build a cleaner environment, cutting down carbon emissions from energy use in buildings is necessary. While smart energy buildings are in vogue currently, reducing emissions from existing buildings remains a challenge. Nevertheless, increased awareness about clean energy adoption should drive stocks in the U.S. alternative energy space and help them to generate positive shareholder returns in the near future. Now, let us bet on a few alternative energy stocks that boast a strong bottom-line outlook. Here we present three alternative energy stocks with a Zacks Rank #2 (Buy) that investors may want to invest in for the time being. You can seethe complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. Evergy Inc.(EVRG): For this Kansas City, MO-based company, the Zacks Consensus Estimate for current-year earnings indicates year-over-year improvement of 8.6%. It came up with a positive surprise of 10% in the last reported quarter. FuelCell Energy, Inc.(FCEL) : For this Danbury, CT-based company, the Zacks Consensus Estimate for current-year bottom line indicates year-over-year improvement of 40.7%. Bloom Energy Corp.(BE) : For this San Jose, CA-based company, the Zacks Consensus Estimate for current-year bottom-line figure indicates year-over-year improvement of 57.1%. It came up with average positive surprise of 21.64% in the trailing four quarters. The Hottest Tech Mega-Trend of AllLast year, it generated $8 billion in global revenues. By 2020, it's predicted to blast through the roof to $47 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for regular investors who make the right trades early.See Zacks' 3 Best Stocks to Play This Trend >> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.Click to get this free reportFuelCell Energy, Inc. (FCEL) : Free Stock Analysis ReportEvergy Inc. (EVRG) : Free Stock Analysis ReportBloom Energy Corporation (BE) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research
Is Coca-Cola Amatil Limited (ASX:CCL) 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! Is Coca-Cola Amatil Limited (ASX:CCL) a good dividend stock? How can we tell? Dividend paying companies with growing earnings can be highly rewarding in the long term. Yet sometimes, investors buy a stock for its dividend and lose money because the share price falls by more than they earned in dividend payments. In this case, Coca-Cola Amatil likely looks attractive to investors, given its 4.6% dividend yield and a payment history of over ten years. It would not be a surprise to discover that many investors buy it for the dividends. Some simple analysis can reduce the risk of holding Coca-Cola Amatil 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. Comparing dividend payments to a company's net profit after tax is a simple way of reality-checking whether a dividend is sustainable. Coca-Cola Amatil paid out 85% of its profit as dividends, over the trailing twelve month period. It's paying out most of its earnings, which limits the amount that can be reinvested in the business. This may indicate limited need for further capital within the business, or highlight a commitment to paying a dividend. In addition to comparing dividends against profits, we should inspect whether the company generated enough cash to pay its dividend. Coca-Cola Amatil paid out 120% of its free cash flow last year, suggesting the dividend is poorly covered by cash flow. Coca-Cola Amatil paid out less in dividends than it reported in profits, but unfortunately it didn't generate enough free cash flow to cover the dividend. Cash is king, as they say, and were Coca-Cola Amatil to repeatedly pay dividends that aren't well covered by cashflow, we would consider this a warning sign. We update our data on Coca-Cola Amatil every 24 hours, so you can always getour latest analysis of its financial health, here. Before buying a stock for its income, we want to see if the dividends have been stable in the past, and if the company has a track record of maintaining its dividend. Coca-Cola Amatil 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 the past ten-year period, the first annual payment was AU$0.37 in 2009, compared to AU$0.47 last year. Dividends per share have grown at approximately 2.4% per year over this time. Modest growth in the dividend is good to see, but we think this is offset by historical cuts to the payments. It is hard to live on a dividend income if the company's earnings are not consistent. The other half of the dividend investing equation is evaluating whether earnings per share (EPS) are growing. Growing EPS can help maintain or increase the purchasing power of the dividend over the long run. It's good to see Coca-Cola Amatil has been growing its earnings per share at 40% a year over the past 5 years. The company pays out most of its earnings as dividends, although with such rapid EPS growth, its possible the dividend is better covered than it looks. Still, we'd be cautious about extrapolating high growth too far out into the future. 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. Next, earnings growth has been good, but unfortunately the dividend has been cut at least once in the past. Ultimately, Coca-Cola Amatil comes up short on our dividend analysis. It's not that we think it is a bad company - just that there are likely more appealing dividend prospects out there on this analysis. Companies that are growing earnings tend to be the best dividend stocks over the long term. See what the 11 analysts we track are forecasting for Coca-Cola Amatilfor freewith publicanalyst estimates 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.
5 of the Best Stocks Under $10 to Buy in July At Zacks, we try to avoid labeling stocks as “cheap” or “expensive.” Instead, we opt to look beyond a stock’s face value, and our system puts an emphasis on earnings estimate revisions to find stocks that will hopefully be winners for investors. With that said, low-priced stocks can still be attractive to investors as they present the chance to take a larger position in a company. When searching for these low-priced stocks, we still look for similar trends in growth, value, and momentum. Then we apply the Zacks Rank to properly analyze the potential that these companies have. Today we’ve highlighted five stocks that are currently trading for under $10 per share. All of these stocks also sport a Zacks Rank #2 (Buy) or better, and are showing signs of outpacing the market. 1. Frontline Ltd. FRO Prior Close: $8.00 USD Frontline is a shipping company that posted stronger-than-projected first-quarter earnings and revenue results in May. Shares of FRO have jumped 45% in 2019 to outpace the S&P 500’s 16% climb and its industry’s 18%. Frontline has also easily outpaced the market over the last several years. The company’s adjusted Q2 earnings are projected to soar 69% on 45% revenue growth. Meanwhile, Frontline’s full-year earnings are projected to skyrocket 400% from a loss of $0.14 per share to +$0.42, with revenue expected to climb 29% to $470.5 million. FRO’s positive earnings estimate revision activity helps it earn a Zacks Rank #2 (Buy) at the moment. The firm also sports “A” grades for both Growth and Momentum in our Style Scores system. 2. SLM Corporation SLM Prior Close: $9.72 USD SLM Corporation, better known as Sallie Mae, is a leading provider of private student loans. SLM shares surged to start 2019 but have fallen slightly over the last several months. The firm is currently a Zacks Rank #2 (Buy) that boasts an “A” grade for Value and a “B” for Growth. Looking ahead, SLM is projected to see its quarterly revenue jump nearly 18%, to help lift earnings 20%. The lender’s adjusted fiscal year EPS figure is expected to climb 18% on 15% higher revenue. Double-digit top and bottom-line growth is then projected to continue next year. Sallie Mae is also a dividend payer, with a 1.2% yield at the moment. 3. Enerplus Corporation ERF Prior Close: $7.53 USD Enerplus is an independent North American oil and gas exploration and production company that is a Zacks Rank #2 (Buy) at the moment. The company’s solid forward P/E and price to sales helps ERF earn an “A” grade for Value. The firm is also a dividend payer that is projected to see its quarterly earnings soar from $0.04 per share in the year-ago period to $0.27 per share. Meanwhile, quarterly revenue is expected to climb roughly 41% to $258 million. On top of that, Enerplus has easily beat our earnings estimates the past two quarters. 4. Glu Mobile Inc. GLUU Prior Close: $7.18 USD GLUU is a mobile video game firm, with a portfolio that includes MLB Tap Sports Baseball, Deer Hunter, and Kim Kardashian: Hollywood. More recently, Glu Mobile launched WWE Universe, as part of a multi-year agreement with WWE WWE, and is set to debut Disney Sorcerer’s Arena DIS in August. Glu’s full-year earnings are projected to skyrocket from $0.10 per share to $0.35. Meanwhile, the company’s fiscal 2019 revenue is expected to climb nearly 18% to $425.9 million, with 2020’s revenue excepted to jump 39% above our current-year estimate. Glu Mobile’s positive longer-term earnings estimate revision activity helps it earn a Zacks Rank #2 (Buy). And GLUU’s price/sales ratio of 2.7 comes in below its industry’s 3.4 average and gaming giant Take-Two Interactive’s TTWO 4.8. 5. Vipshop Holdings Limited VIPS Prior Close: $8.63 USD Shares of the Guangzhou, China-based online discount retailer, which sells popular branded products throughout China, are up 61% in 2019 and 16% in the last month. Vipshop’s price/sales ratio of 0.45 represents an impressive discount compared to its industry’s 0.89 average. And VIPS’ 11.4 forward P/E, which comes in well below its industry’s 23.1X, helps it earn a “B” grade for Value. The Chinese e-commerce retailer’s full-year 2019 EPS figure is projected to climb over 31% to reach $0.76 per share on the back of 3% revenue expansion. Peeking further ahead, VIPS’ adjusted 2020 earnings are projected to climb 31.5% above our current year estimate. Vipshop is a Zacks Rank #2 (Buy) at the moment. The Hottest Tech Mega-Trend of AllLast year, it generated $8 billion in global revenues. By 2020, it's predicted to blast through the roof to $47 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for regular investors who make the right trades early.See Zacks' 3 Best Stocks to Play This Trend >> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.Click to get this free reportFrontline Ltd. (FRO) : Free Stock Analysis ReportThe Walt Disney Company (DIS) : Free Stock Analysis ReportVipshop Holdings Limited (VIPS) : Free Stock Analysis ReportSLM Corporation (SLM) : Free Stock Analysis ReportWorld Wrestling Entertainment, Inc. (WWE) : Free Stock Analysis ReportEnerplus Corporation (ERF) : Free Stock Analysis ReportTake-Two Interactive Software, Inc. (TTWO) : Free Stock Analysis ReportGlu Mobile Inc. (GLUU) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research
The Latest: Hong Kong leader condemns protest in legislature HONG KONG (AP) — The Latest on protests on the anniversary of Hong Kong's return to China (all times local): 4:30 a.m. Hong Kong's leader has condemned protesters who broke into the city's legislature and vandalized the building. Chief Executive Carrie Lam said at an early Tuesday morning news conference that she hopes the wider Hong Kong community will agree it is right to condemn the protest and hope that society returns to normal as soon as possible. Hundreds of protesters smashed windows and pried open metal curtains to get into the legislature Monday night. Once inside, they spray-painted slogans on the walls, turned over file cabinets in offices and strew documents on floors. The protesters say that Lam has not responded to their demands despite multiple protests in recent weeks. ___ 12:50 a.m. Police in Hong Kong have used tear gas to clear a crowd of protesters gathered outside the city's legislature after several hundred broke into the building and spray-painted pro-democracy slogans on the walls of the main chamber. In a slow and deliberate operation, large numbers of officers began moving in after taking positions outside the legislature around midnight. Protesters had swarmed into the building about 9 p.m. Monday after breaking windows and prying open metal security curtains. Some who had gathered outside quickly scattered as police lobbed tear gas canisters and advanced behind tall clear shields. Inside the legislature building, police wearing helmets entered the main chamber with shields but found only media inside. Meanwhile, hundreds of thousands of other protesters marched through the city on Monday to demand expanded democracy on the 22nd anniversary of the former British colony's return to China. ___ 12:05 a.m. Police have begun advancing on Hong Kong's legislature building to clear protesters who broke into it and vandalized offices and the main chamber. An AP journalist said he could feel tear gas Monday night as he and other media left the building with protesters. Story continues The crackdown began around midnight. Police earlier announced they would begin clearing the building and warned they would use appropriate force if they encountered resistance. Hundreds of protesters broke into the building at about 9 p.m. and spray-painted slogans on the walls of the main chamber. Meanwhile, hundreds of thousands of others marched through the city to demand expanded democracy on the 22nd anniversary of the former British colony's return to China. ___ 10:45 p.m. Hong Kong police have announced that they plan to clear Hong Kong's legislative building after it was taken over by a group of protesters. Police said in an announcement on Facebook on Monday night that they would clear the area in a short period of time, and warned they would use appropriate force if they encounter resistance. They asked unrelated protesters to leave the area around the building as soon as possible. Hundreds of protesters broke into the building at about 9 p.m. and spray-painted slogans on the walls of the main chamber. Meanwhile, tens of thousands of others marched through the city to demand expanded democracy on the 22nd anniversary of the former British colony's return to China. The protesters' demands include the withdrawal of an extradition bill and the resignation of Hong Kong leader Carrie Lam. 9:45 p.m. A group of protesters in Hong Kong has taken over the legislative chamber, spray painting slogans on the wall and over the territory's emblem. Some stood on the desks of lawmakers Monday night while others climbed up to leave their messages on the soaring wooden wall. Police appear to have retreated to avoid a confrontation, giving the protesters the run of the building. They smashed and tore down portraits of legislative leaders after prying open metal gates to gain access. Meanwhile, tens of thousands of others marched through the city to demand expanded democracy on the 22nd anniversary of the former British colony's return to China. The protesters say the Hong Kong government is not responding to their demands for a full withdrawal of contentious extradition legislation and the resignation of city leader Carrie Lam. ___ 9 p.m. A group of protesters in Hong Kong has swarmed into the legislature building after breaking windows and prying open metal security curtains. Police appeared to back off Monday night as the protesters came in, apparently to avoid a confrontation. Hong Kong Cable TV showed the helmeted protesters walk through a security checkpoint and continue to smash through metal doors to try to go deeper into the building. Meanwhile, tens of thousands of others marched through the city to demand expanded democracy on the 22nd anniversary of the former British colony's return to China. The protesters say the Hong Kong government is not responding to their demands for a full withdrawal of contentious extradition legislation and the resignation of city leader Carrie Lam. Lam said earlier Monday that she would do a better job of listening to the voices of young people, but she has resisted calls to step down. ___ 6:35 p.m. A group of protesters in Hong Kong has torn down part of glass and metal exterior wall of the legislature building. Hong Kong Cable TV showed live video Monday of them pulling off long strips of metal framework from the wall and carrying them away. Earlier, the mostly young protesters hacked away repeatedly at the floor-to-ceiling glass windows, shattering them until they collapsed. The protesters say the Hong Kong government is not responding to their demands for a full withdrawal of contentious extradition legislation and the resignation of city leader Carrie Lam. Lam said earlier Monday that she would do a better job of listening to the voices of young people, but she has resisted calls to step down. ___ 6 p.m. U.S. National Security Adviser John Bolton says Washington expects China to adhere to its international obligations when it comes to handling matters related to the semi-autonomous region of Hong Kong. Bolton's comments during a brief visit to Mongolia on Monday came as thousands of Hong Kong residents filled city streets in an annual show of defiance against the Beijing-backed government. Marchers were energized by an ongoing controversy over now-suspended legislation that would allow suspects to be sent to mainland Chinese courts. The U.S. expects "China like every other country to adhere to its international obligations," Bolton said. In Beijing, Chinese foreign ministry spokesman Geng Shuang told reporters at a daily briefing that "Hong Kong affairs are purely China's internal affairs, and no foreign country has the right to intervene." ___ 5:45 p.m. Protesters are making a second attempt to smash through windows at Hong Kong's legislative building. A clanging sound could be heard late Monday afternoon as they banged repeatedly on the windows. Earlier in the day, protesters smashed the bottom of a floor-to-ceiling window before police repelled them with pepper spray. Television footage showed police waiting with gas masks on, but it was unclear if they would deploy the gas. The protesters say the government isn't responding to their demands for a formal withdrawal of an extradition bill that has been suspended and the resignation of Hong Kong leader Carrie Lam. ___ 5:15 p.m. Chris Patten, who served as Hong Kong's final governor while it was a British colony, says the UK must take a "much firmer line" against China amid fears it is increasing its influence in Hong Kong. Patten, speaking Monday on the 22nd anniversary of the return of Hong Kong to China, warned that Chinese leaders have been "strengthening their grip" on the semi-autonomous territory. He said the British government has not been tough enough over China's treatment of the Sino-British joint declaration of 1984 for Hong Kong's autonomy. British Foreign Secretary Jeremy Hunt used Monday's anniversary to affirm Britain's support for the "one country, two systems" relationship between Hong Kong and China. ___ 3:50 p.m. Organizers of a protest march in central Hong Kong have changed the ending point because of an ongoing protest by a smaller group trying to smash its way into the city's legislative building. The Civil Human Rights Front said Monday that the march would go to an area nearby instead of to the legislature. Police asked the organizers to stop the march at an earlier point, but the organizers refused. The announcement came shortly before thousands of people set out from Victoria Park on a march down main roads. They are demanding that a proposed extradition law be withdrawn and that Hong Kong's leader step down. The annual march is held on the anniversary of Great Britain's return of Hong Kong to China in 1997. ___ 3 p.m. Police are warning combative protesters to stop trying to break into the Hong Kong legislative building. With a crowd of a hundred or more people around them, a group of eight to 10 people repeatedly rammed a shopping cart and poles into a glass panel. After they managed to get the cart wedged into the damaged panel, police grabbed the cart away from them. They also posted a sign saying to the protesters, stop charging before we use force. The combative group tried to shield themselves with umbrellas, a tactic used in the past to ward off pepper spray. The unexpected disruption stalled the start of an annual march Monday marking the anniversary of the former British colony's return to China in 1997. ___ 2:15 p.m. Combative protesters are staging a protest outside the Hong Kong legislature as a crowd of thousands prepares to start a march in that direction. The unexpected disruption stalled the start of the march Monday. The crowd has started filing out of Victoria Park around 2 p.m. Police asked the marchers to change their route or cancel the march. Both the combative protesters and the marchers are opposing a government attempt to change extradition laws to allow suspects to be sent to China to face trial. The proposal has increased fears of eroding freedoms in the territory that was returned to China in 1997. ___ 11:45 a.m. Protesters in Hong Kong are taking a break after a morning confrontation with police and ahead of a planned march in the afternoon. Several hundred demonstrators sat or napped Monday in the shade of a covered outdoor plaza that has becoming their gathering point. Police drove them back earlier in the day as they tried to force their way toward the venue for a ceremony to mark the 22nd anniversary of the return of Hong Kong to China in 1997. Many more people are expected to join the march against a proposal to allow suspects to be extradited to China to face charges. A protester who gave only his first name, Jack, said "the rule of law is the last firewall between us and the Chinese Communist Party." ___ 9:30 a.m. Hong Kong's leader says a series of protests that have rocked her city have taught her that she needs to listen better to the youth and people in general. Chief Executive Carrie Lam struck a conciliatory note Monday at a ceremony marking the 22nd anniversary of the return of the former British colony to China. She said she has to remind herself all the time of the need to grasp public sentiments and ensure the government's work is closer to the aspirations of the people. Security guards pushed a pro-democracy lawmaker out of the room as she shouted at Lam to resign. Lam has come under criticism for pushing legislation that many saw as eroding Hong Kong's freedoms as a semi-autonomous territory of China. ___ 9 a.m. The Hong Kong government has marked the 22nd anniversary of the former British colony's return to China, as police faced off with protesters outside the venue. A flag-raising ceremony was held under high security Monday morning with police using riot shields to push back demonstrators who had blocked a nearby street. Hong Kong leaders and guests watched the ceremony inside the city's convention center instead of outside as they normally do. The government cited inclement weather after light rain earlier in the morning. A march planned for Monday afternoon is expected to be larger than usual because of widespread opposition to recent government actions that have awakened broader fears that China is eroding Hong Kong's freedoms.
State moves to shut down coke plant, citing violations ERIE, Pa. (AP) — State environmental regulators are moving to shut down a coke plant in northwestern Pennsylvania, citing "years of numerous repetitive environmental violations." The Pennsylvania Department of Environmental Protection said Monday it has denied Erie Coke Corp.'s application to renew its operating permit and filed a complaint in Erie County Court to shut down the plant. There had been "persistent complaints" from the community for more than a decade, Environmental Secretary Patrick McDonnell said, and Erie Coke had been given many opportunities to address the violations. "Unfortunately, the frequency and severity of Erie Coke's violations have only increased during our review of its permit renewal and the operator has offered no tangible causes for its non-compliance nor viable plans to assure future compliance," McDonnell said in a statement. The department, he said, "has made the rare decision to not only deny the company's application to renew its operating permit, but also seek a court injunction to shut down the facility." The state's move came as "quite a shock," said Ed Nesselbeck, Erie Coke's environmental director. The company, he said, had been working hard on a detailed compliance plan for the past six months and submitted it in April. Officials had been meeting regularly with the department, he said, and another such meeting was planned Tuesday. "We've taken on a herculean effort and thought we were making great progress," he said. Nesselbeck told WICU-TV last week that environmental compliance "though challenging, will be doable" and asked for "cooperation and patience" from all stakeholders. "The plant didn't get this way overnight, and we will not achieve our goal by tomorrow," he said . "All the same, I am very optimistic." The plant, which produces coke, a key ingredient in the steelmaking process, employs 125 people. A threatened shutdown in 2010 was averted through a court-ordered settlement.
Princess Diana's most memorable fashion moments Princess Diana tragically died in 1997, but more than 20 years later she’s still the beloved People’s Princess. Her fashion has also remained popular. Many of her iconic looks have been auctioned for millions of dollars. Today, on what would have been her 58th birthday, we look back at her iconic fashion looks. Prince Charles and Princess Diana on the day of announcing their engagement. (Photo by Tim Graham/Getty Images) How can fans forget the royal blue (appropriately titled) skirt suit she wore to announce her 1981 engagement to the future British monarch, Prince Charles ? Diana bought the chic ensemble at a department store — yes, she was just like us! Prince Charles and Princess Diana's wedding day on July 29, 1981 in London, England. (Photo by Anwar Hussein/Getty Images) Later that year, she had the world taking notice with her wedding gown. The dress, designed by David and Elizabeth Emanuel, included a stunning 25-foot train. When she introduced her sons on the steps of St. Mary’s Hospital, she wore two unforgettable outfits. In 1982, she stepped out in a flowy green polka-dot dress following the birth of Prince William. Two years later, she chose an eye-catching red coat dress when the world met Prince Harry. Check out the video above for a look back at some of her most memorable outfits. Read more from Yahoo Lifestyle: Kim Kardashian is changing name of shapewear line after ‘Kimono’ backlash The best white T-shirts are $20 and under Fans defend Meghan Markle from 'haters' over baby Archie's private christening plans Follow us on Instagram , Facebook , Twitter and Pinterest for nonstop inspiration delivered fresh to your feed, every day.
How Amazon disrupts, and encourages workers to 'unleash their power': Wells Fargo Amazon (AMZN), widely seen as a disruptive force in technology and retail, uses several key ingredients to preserve its dominance in e-commerce and help employees “unleash their power,” Wells Fargo noted on Monday. The bank’s recent “Bricks to Clicks” digital conference in New York featured an ex-top Amazon executive, Rob Williams, who lifted the curtain on how the retail giant is able to create and maintain a “disruptive innovation culture.” Williams, who spent 10 years as GM of global vendor management for Amazon, demystified elements of Amazon’s internal workings. He cited three key takeaways about how Amazon operates internally— which are then harnessed as part of the company’s business model. According to the insider, Amazon hires “builders” as employees that are allowed to “‘unleash their power,’ largely by de-centralizing the decision-making process and having each division operate almost a standalone entity,” Wells Fargo noted. The retail giant focuses in on “how to please the customer,” and then builds its strategy out from there. “AMZN is less focused on the competition,” Wells Fargo said. “Basically, they don’t care about keeping up with whatWMT,TGTand other retailers are doing as they believe that if they simply focus on the customer, they will have the best value/service proposition to the consumer, allowing them to ‘win’ in the long-term),” Wells Fargo wrote, according to the information Williams provided. Amazon is slowly making inroads into clothing and footwear, Well Fargo notes, estimating that the business notched around $35 billion in sales last year. Internally, that segment is “viewed internally as more of a marathon than a sprint,” the bank noted. “Furthermore, certain companies/categories appear to be more at-risk, while others are more insulated,” analysts wrote, adding that “the more commoditized a product is, the more likely it is to get disrupted by Amazon.” The retailer does well selling certain “boring” products like Hanes — a brand that may be at risk given Amazon’s own private-label offerings that pop up ahead of it in search results. “As far as businesses that are more insulated, [Williams] noted that retailers need to either ‘go high or go low’” in order to avoid getting undercut by Amazon. “In other words, higher-end companies with premium price points have relatively less to worry about, as long as they keep distribution tight and don’t have to worry about wholesale partners ...[undercutting them] on price. Finally, Williams noted that “in branded product, AMZN is basically just a price-matcher, but private label is used to offer value to loyal customers and Prime members. In addition, the company “can use it as a lever to pressure brands that are holding out from selling to AMZN (i.e. they can take share by selling the “Amazon version” of a product, forcing the brand to put their goods on AMZN to compete),” the bank added. Certain “authentic” brands like Nike — which has a strong connection with consumers — are better insulated from the Amazon disruption effect, according to Williams. Yet “anything that’s simply ‘manufactured in China and only has marketing hype’ is at-risk from AMZN’s private-label offering,” the bank stated. Donovan Russo is a writer for Yahoo Finance. Follow him@Donovanxrusso. Read more: • UBS: World economy ‘one step away from global recession' • Why Trump-Xi meeting won't produce a trade war 'breakthrough' at G20: Goldman Sachs • Trump blasts Federal Reserve as 'stubborn child' on rate policy • GrubHub stock soars as Citi cites delivery tests as a reason to buy Follow Yahoo Finance onTwitter,Facebook,Instagram,Flipboard,LinkedIn, andreddit.
Warriors owner: No other player will wear Durant's No. 35 OAKLAND, Calif. (AP) — Golden State Warriors owner Joe Lacob is showing his appreciation for Kevin Durant's contributions to three successful seasons by promising that no other player will wear jersey No. 35 as long as Lacob is team chairman. Lacob released a statement Monday thanking Durant, the two-time NBA Finals MVP who helped the Warriors win back-to-back championships in 2017 and '18 before his postseason was shortened by injury this year. Durant on Sunday announced he would be signing a contract to join the Brooklyn Nets. He is expected to miss all of next season while he recovers from surgery for a ruptured right Achilles tendon suffered in Game 5 of the finals, which Golden State lost in six games to the Toronto Raptors. "Today, as he starts a new chapter in his incredible career, we thank KD for all of his contributions, for being an integral part to one of the most prolific runs in NBA history and wish him well as he continues his Hall of Fame journey," Lacob said. "As long as I am Co-Chairman of this team, no player will ever wear (No.) 35 for the Warriors again." Golden State had hoped Durant would choose to stay for about $221 million over the next five seasons, but he chose to join the Nets and play alongside Kyrie Irving instead. On behalf of the franchise, Lacob applauded Durant for his efforts on and off the court representing the Warriors. "Three years ago, we were thrilled with the arrival of Kevin Durant, a transformative NBA player and one of the best to ever play the game," Lacob said. "He provided our fans and franchise with numerous highlights during his stay here_two NBA championships, two NBA Finals MVPs, three trips to the Finals, unparalleled efficiency_and carried himself with class and dignity both on and off the court. His commitment to our community was evident each day, including last season when his philanthropic efforts earned him the NBA's annual Community Assist Award." Story continues Warriors coach Steve Kerr made it clear when the season ended everyone understood Durant had earned the chance to pursue every opportunity. "I know that we all want him back, and we think this is a great situation for him and vice versa," Kerr said. "So, hopefully we get him back and keep this thing going with the understanding that he's a free agent and we want what's best for him, and he's free to make any choice he wants. Hopefully he's back, and we will all give him any advice, any counsel that he needs. And ultimately he's going to make his own decision. He's earned that." On June 12, the 30-year-old Durant posted a photo on Instagram showing himself in a hospital bed and announced his surgery. He had returned two nights earlier from a nine-game absence with the calf injury. When he got injured again, a teary, emotional Warriors general manager Bob Myers asked anyone who was looking to place blame to do so on him — not on Durant, the medical staff or athletic trainers who worked so tirelessly to get him back. ___ More AP NBA: https://apnews.com/NBA and https://twitter.com/AP_Sports
3 Polish miners die after tremor causes massive cave-in WARSAW, Poland (AP) — Three miners have been killed in a tremor that hit a coal mine in southern Poland and six others have been hospitalized. Tomasz Glogowski, spokesman for the Polish Mining Group, or PGG, a company in Katowice, said the quake occurred shortly after 2 p.m. local time Monday some 720 meters (2,362 feet) underground at the Murcki-Staszic mine, causing a massive cave-in. The quake's magnitude was 2.66 on the Richter scale. Glogowski told The Associated Press that three of the nine miners who were working in that zone died while three others managed to escape and the remainder were carried to the surface. The six survivors were hospitalized. He said that mining experts and investigators were investigating the cause of the accident. Prime Minister Mateusz Morawiecki has decided to grant special pensions for the families of the victims. Despite steps toward phasing out coal extraction, the industry remains one of Poland's major employers and its major energy source. However, it is prone to accidents. So far this year, 16 miners have been killed in Poland's coal, lignite and copper mines.
Former USC gynecologist pleads not guilty to sex assaults LOS ANGELES (AP) — The attorney for the former University of Southern California campus gynecologist charged with sexual assault argued Monday his client is suffering from heart problems and diabetes and should be allowed to post bail. Dr. George Tyndall, 72, appeared in Los Angeles Superior Court on 29 felony charges that could send him to prison for 53 years. Prosecutors say 16 patients ranging from 17 to 29 were abused during visits to the student health center for annual exams or other treatment. Tyndall is being held on $2,075,000 bail in the Twin Towers Correctional Facility's medical unit after spending several days in the hospital following his Wednesday arrest. Tyndall's lawyer, Andrew Flier, entered a not-guilty plea for his client during the arraignment. Flier said his client is neither a flight risk nor a danger to himself or anyone else. A bail review hearing is scheduled for Wednesday. Allegations against the doctor first surfaced in May 2018; authorities say they may file additional charges as they continue to talk to former patients. In the past year, more than 380 women have reported misconduct by Tyndall, authorities said. Some of the cases fell outside the 10-year statute of limitations, while others did not rise to the level of criminal charges or lacked sufficient evidence to prosecute. More than 700 women have filed lawsuits in state court against the doctor and USC. A separate $215 million federal class-action settlement that could potentially include thousands of payouts is in the works. Flier said his client never conducted exams without a chaperone and never touched anyone inappropriately. "None of this ever happened," he said in a news conference after the arraignment. "We hear 100, 200, 400 complaining witnesses. Well, without minimizing the number, we're down to 16." Flier said his client has been threatened and was carrying a loaded revolver at the time of his arrest for protection.
Read This Before You Buy PTB Group Limited (ASX:PTB) Because Of Its 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! Today, we'll introduce the concept of the P/E ratio for those who are learning about investing. We'll show how you can use PTB Group Limited's (ASX:PTB) P/E ratio to inform your assessment of the investment opportunity.Group has a price to earnings ratio of 11.29, based on the last twelve months. In other words, at today's prices, investors are paying A$11.29 for every A$1 in prior year profit. See our latest analysis for Group Theformula for P/Eis: Price to Earnings Ratio = Share Price ÷ Earnings per Share (EPS) Or for Group: P/E of 11.29 = A$0.72 ÷ A$0.064 (Based on the trailing twelve months to December 2018.) A higher P/E ratio implies that investors paya higher pricefor the earning power of the business. All else being equal, it's better to pay a low price -- but as Warren Buffett said, 'It's far better to buy a wonderful company at a fair price than a fair company at a wonderful price.' Companies that shrink earnings per share quickly will rapidly decrease the 'E' in the equation. That means even if the current P/E is low, it will increase over time if the share price stays flat. So while a stock may look cheap based on past earnings, it could be expensive based on future earnings. It's great to see that Group grew EPS by 25% in the last year. But earnings per share are down 8.7% per year over the last three years. We can get an indication of market expectations by looking at the P/E ratio. We can see in the image below that the average P/E (30.2) for companies in the aerospace & defense industry is higher than Group's P/E. This suggests that market participants think Group will underperform other companies in its industry. Many investors like to buy stocks when the market is pessimistic about their prospects. You should delve deeper. I like to checkif company insiders have been buying or selling. Don't forget that the P/E ratio considers market capitalization. So it won't reflect the advantage of cash, or disadvantage of debt. Hypothetically, a company could reduce its future P/E ratio by spending its cash (or taking on debt) to achieve higher earnings. While growth expenditure doesn't always pay off, the point is that it is a good option to have; but one that the P/E ratio ignores. Group's net debt is 25% of its market cap. That's enough debt to impact the P/E ratio a little; so keep it in mind if you're comparing it to companies without debt. Group trades on a P/E ratio of 11.3, which is below the AU market average of 15.9. The company does have a little debt, and EPS growth was good last year. If it continues to grow, then the current low P/E may prove to be unjustified. When the market is wrong about a stock, it gives savvy investors an opportunity. If it is underestimating a company, investors can make money by buying and holding the shares until the market corrects itself. We don't have analyst forecasts, but you could get a better understanding of its growth by checking outthis more detailed historical graphof earnings, revenue and cash flow. You might be able to find a better buy than Group. If you want a selection of possible winners, check out thisfreelist of interesting companies that trade on a P/E below 20 (but have proven they can grow earnings). 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.
Credit Suisse wealth boss Khan quits in pursuit of top job By Oliver Hirt, Brenna Hughes Neghaiwi and Angelika Gruber ZURICH (Reuters) - Credit Suisse <CSGN.S> wealth management boss Iqbal Khan is leaving Switzerland's second-largest bank in the latest high-level departure under Chief Executive Tidjane Thiam. Khan's surprise move "to pursue other opportunities" sparked speculation that the 43-year-old, who has overseen solid growth and profitability gains at Credit Suisse, could move to Swiss rivals Julius Baer <BAER.S> or UBS <UBSG.S>. "His long-term goal is to attain a top job. But the path there could also lead through another division head job, it doesn't need to be a CEO role directly," a source familiar with Khan's thinking said on Tuesday. Khan is considering offers from Swiss and international banks and plans to make a decision in late August or September, the source, who spoke on condition of anonymity, said. His sudden move had come as a shock even to close associates, another source close to Khan said, while a source close to Thiam said they did not know what he planned next. The Swiss citizen, who could not be reached for comment, will be replaced by international wealth management's (IWM) chief financial officer, Philipp Wehle, a Credit Suisse veteran and former German military intelligence officer who has held a number of roles since joining in 2005. Wehle was also appointed a member of the executive board, Credit Suisse said in a statement on Monday. Sources told Reuters in March that Baer is considering Khan as a possible successor to its CEO Bernhard Hodler. Other sources have said Khan could be a good candidate for various roles at the world's largest wealth manager, UBS. Baer and UBS declined to comment on Tuesday. STRONG RESULTS Thiam -- who has cut thousands of jobs, focused on wealth management and settled legal cases that had plagued predecessors -- has been reshuffling leadership including naming a new chief risk officer in February. "Under his leadership, IWM has delivered strong financial results, while enhancing our client franchise and achieving industry leading growth," Thiam said in a statement. "I thank Iqbal for the strong results he delivered." IWM had record quarterly net revenue and pre-tax income in the first three months of the year. Khan joined Credit Suisse from Ernst & Young in 2013 as finance chief for the private banking and wealth management business and in 2015 was appointed as CEO of IWM and an executive board member. Financial sector sources said Khan would be a good candidate for foreign banks, one adding he "could easily be a strong addition to some of the American banks". Shares in Credit Suisse were down 0.7% at 1355 GMT, compared to a 0.1% drop for Europe's banking index <.SX7P>, while Baer and UBS, were up 1.1% and 0.3% respectively. (Reporting by Oliver Hirt, Brenna Hughes Neghaiwi and Angelika Gruber; additional reporting by Rama Venkat in Bengaluru and John Miller in Zurich; Editing by Sandra Maler and Alexander Smith)
Joey Chestnut Gains 24 Lbs In 10 Minutes During Nathan's Hot Dog Eating Contest Joey Chestnut is one of the few lucky people in America not worried about expanding his waistline over 4th of July, and is expecting his annual hot dog eating contest to put on at least 20 lbs. The pro eating champion, and fellow female competitor Miki Sudo , were in NYC ahead of Nathan's big Independence Day eat-a-thon. Chestnut was asked about his girlfriend, and how long he usually has to wait to get intimate after he finishes an eating comp. He didn't want to give an exact timeframe, but assured the photographer he snaps back pretty quickly. Chestnut, who won his 11th national championship last year for downing 74 dogs, said instead of sex, he's mostly focused on sleep and hydration after completing an eating feat. Aside from the aftermath, Chestnut said he's focused on the preparation before taking the stage on Thursday for the main event. He said his diet for the next few days will mainly consist of lettuce and water, in order to stay hungry as he tries to break his 2018 record. As for how much weight he puts on during the 10 minute competition ... Chestnut revealed he logs about 24 lbs, including the water consumed while eating the buns. Sudo also revealed her weight gain, which puts her at about 16 lbs for the event. Chestnut has won nearly $600,000 during his eating career since 15-year eating career, according to competitive eating database EatFeats, and that doesnt include endorsements and business deals such as his line of condiments Chestnut launched last year. Hopefully he's able to bring home another championship, and leave enough room for some loving with his girlfriend ... who must be a very understanding woman.
La La Anthony Says Husband Carmelo Sent Her 'Some Nice Gifts' for Her 36th Birthday La La Anthony turned up for her 36th birthday, partying with pals and her extended family in Atlantic City. The Power actress spent the weekend at the New Jersey hot spot’s Borgata Hotel Casino & Spa, The group noshed on Japanese fare at Izakaya , played black jack at Level One Cocktail Bar & Lounge, stopped by Moneyline Book & Bar and danced the night away at Premier nightclub. She sparkled in an off-the-shoulder, glittery Peter Dundas dress and Manolo Blahnik heels. “My whole family is here. My cousins, my best friends. My uncle is here, my brother is here. Atlantic City is just such an easy drive from New York, so everyone was able to just hop in the car,” she told PEOPLE. “I love gambling, I love partying, great restaurants. … You have it all right here in the hotel, and you never have to leave.” Bill Davila/Startraksphoto.com But Anthony — who was recently cast in BH90210 , the hotly anticipated reimagining of Beverly Hills, 90210 — celebrated her actual birthday in a decidedly more low-key fashion back in New York City. She spent the day with son Kiyan, 12, and BFF Kim Kardashian West, treating themselves to milkshakes and fried Oreos before stopping by close friend Ciara’s rehearsal, where the backup singers treated her to a surprise rendition of “Happy Birthday.” (As for Kardashian West’s baby boy Psalm West, “He’s amazing and the family’s amazing and everyone’s great.”) JNI/Star Max/GC Images Kiyan “gave me the nicest card, he hung out with me, balloons, flowers. He’s really a great kid, and we ended up having a really good day as well,” she said of her son, who’s spending the summer playing basketball like dad Carmelo Anthony . As for her husband? “He’s overseas at Fashion Week. He sent me some nice gifts and posted something really nice, so I was appreciative,” she said of the NBA star’s Instagram post declaring her his “queen.”
UPDATE 1-Brazil raises 2019 trade surplus forecast, but warns activity will slow (Adds detail, context, quote) By Isabel Versiani BRASILIA, July 1 (Reuters) - Brazil's Economy Ministry on Monday raised its projection for the country's trade surplus this year to $56.7 billion from $50 billion, but warned that trade activity will decline due to slowing global economic growth. While the Economy Ministry's new forecast is up some 13.4% from its the original projection, it would still be smaller than last year's $58.03 billion surplus, meaning trade is still on course to be a net drag on Brazilian economic growth this year. Speaking to reporters in Brasilia after the release of June trade data, Economy Ministry officials said exports would likely fall 2.0% this year compared with 2018 and imports by 1.9%. "Global growth this year is expected to be lower than last year, and obviously, we will suffer as a result," said Lucas Ferraz, secretary of foreign trade at the ministry. Ferraz and other ministry officials also spoke about the free trade treaty agreed by the European Union and South American bloc Mercosur last week after 20 years of negotiations, and the potential benefits it will bring to Brazilian trade. Ferraz said the landmark deal, which is not expected to come into force for at least two years, will increase total exports and imports by around 1 trillion reais ($261 billion) and spur 453 billion reais of investment over 15 years. The size of Brazil's gross domestic product over the same 15 years period will grow by up to 500 billion reais, Ferraz estimated. Marcos Troyjo, special secretary for trade and international relations at the ministry, said the accord was a model change for the bloc, which consists of Brazil, Argentina, Uruguay and Paraguay, and offers Brazil an opportunity to increase its relatively small footprint in global trade. ($1 = 3.83 reais) (Reporting by Isabel Versiani; Writing by Jamie McGeever; Editing by Peter Cooney and Jonathan Oatis)
Hong Kong protests: Defiant Carrie Lam condemns storming of parliament and vows to take action Hong Kong Chief Executive Carrie Lam speaks to media over an extradition bill in Hong Kong - REUTERS Hong Kong protesters storm legislature, smashing doors and windows Leader Carrie Lam condemn 'extremely violent' actions Jeremy Hunt 'understands' concerns of protesters Tense calm descends on the city as roads cleared Malcolm Rifkind: Crushing Hong Kong dissent will not be as easy for China as Tiananmen Analysis: World watches as fears of military involvement grow Spraying graffiti and expletives on the walls, smashing glass windows and destroying furniture, hundreds of masked young protesters rampaged through the heart of Hong Kongs parliament on Monday night, in scenes of unprecedented chaos. Weeks of mass protests against a controversial extradition bill had finally erupted in rage as demonstrators in hard hats, some still in their teens, rammed through the glass doors of the Legislative Council with metal trolleys and poles and wrenched open metal shutters, streaming into the building. Their ten-hour siege ended shortly after midnight in a terrifying confrontation with hundreds of riot police, wielding batons and shields, who suddenly returned and rushed at protesters firing tear gas into the air. Speaking at a dramatic 4am press conference this morning, Carrie Lam, Hong Kong's chief executive, condemned the "extremely violent" storming of parliament and pledged to pursue criminal charges. Flanked by her security minister, she said the "scene that really saddens a lot of people and shocks a lot of people is the extreme use of violence and vandalism. This is something we should seriously condemn. Nothing is more important than the rule of law in Hong Kong." She said Hong Kong would "pursue any illegal acts" committed by protesters. A tense calm descended on the city early on Tuesday as police cleared roads near the heart of the financial centre, paving the way for business to return to normal . Debris including umbrellas, hard hats and water bottles were the few signs left of the mayhem. while the government offices remained closed. Story continues Jeremy Hunt, the Foreign Secretary, said: "When I look at those terrible scenes in Hong Kong, my heart goes out to people who do have to fight for their freedoms and who are worried they could lose a very precious way of life. I don't support violence in any circumstances but I understand their worries about changes that are happening in Hong Kong." Hong Kong Chief Executive Carrie Lam speaks to media over an extradition bill in Hong Kong Credit: Reuters The extraordinary live broadcasts of demonstrators swarming through the chambers, scrawling Hong Kong is not China slogans and defacing portraits of pro-Beijing legislators, took place 22 years to the day that Britain ceded Hong Kong to China. In footage that would no doubt have infuriated Beijing, they were seen destroying mounted images of Hong Kongs regional emblem and flying the citys former colonial flag as they flooded through the chambers chanting Hong Kong Add Oil!, a protest slogan meaning keep on going! The largely peaceful protests throughout the day had taken a sudden turn about 9pm when a hardcore group of agitated young men and women finally breached a floor-to-ceiling steel shutter protecting the inside of the building. Riot police had been standing behind the metal curtain, barking warnings at protesters that they would be arrested if they moved forward. But they suddenly and inexplicably retreated inside the corridors and away from the building as the crowd broke through. Police officers stand guard at the Legislative Council Building after protesters stormed the building in Hong Kong Credit: Rex The protesters had paid little heed to their warnings. Throughout the day, several had told journalists on the ground that they were desperate and willing to risk jail, and some even their lives, to protect Hong Kongs democracy and freedoms for future generations. The contested draft extradition bill, currently suspended but not fully withdrawn, would allow alleged criminal suspects in Hong Kong to be sent to mainland China for the first time for trial. The withdrawal of the law has been the focus of massive marches and wildcat protests across the city in recent weeks, but it has also morphed into the symbol of wider disquiet in Hong Kong about the steady erosion of human rights under Beijings one country, two systems policy. Anti-extradition bill protesters walk inside a security room after demonstrators stormed the Legislative Council building on the anniversary of Hong Kong's handover to China in Hong Kong Credit: Reuters A coalition of protest groups, which has no central leadership and has been fuelled by online chat groups, have demanded the bills total withdrawal, the resignation of Carrie Lam, the Chief Executive, and accountability for alleged police violence against demonstrators on June 12. Mondays protests saw a split between a larger body of people who took over the streets of downtown Hong Kong in a traditional march and a smaller group of radical protesters who channeled their pent-up rage over the governments failure to meet their demands into more drastic action. Earlier in the day, hundreds of thousands of people had turned out to participate in a planned rally to express their opposition to the government. It was a familiar scene after recent marches have, according to organisers, topped two million people. Mondays crowd represented several generations from all walks of life. I wanted to add to the crowd numbers so that the government could hear the dissatisfaction of so many people, said Gary, 35, a teacher, who declined to give his surname. Ming, 50, a business owner, told The Telegraph : I have marched all three times. I completely support the young people and their ideals and ambitions, which is for the good of Hong Kong. "Seeing these young people like this, if I didnt come out, I couldnt have that on my conscience. Im in my fifties, what can we do for these young people? One thing we can do is come out and march." The Civil Human Rights Front, one of the leading protest groups, claimed Mondays rally had drawn some 550,000 people, but as night fell the main event was quickly eclipsed by the unprecedented takeover of the seat of government and its frightening conclusion. Towards the end of the day scenes had turned gradually violent, with protesters using heavy tools to break the glass at the Legislative Council, aggressively blocking journalists cameras with umbrellas, and body-slamming democratic legislators who tried to ward them off. A conciliatory attempt by Ms Lam earlier in the day to assure Hong Kong citizens that the government would be more responsive to their concerns, was rejected by the crowds. The government condemned radical protesters who had seriously jeopardised police and the public. Few paid attention as tensions rose within the occupied chambers and the leaderless youngsters debated what to do. Some remained unfailingly polite, leaving money for drinks they had consumed and urging others not to destroy documents. By 10pm, the police broke their silence via social media, warning they were about to sweep the area with reasonable force and appealing to unrelated protestors to leave the vicinity. Protesters inside the building grew nervous, with a consensus building that it was time to leave. Eyewitnesses said some dissolved in tears, dragging reluctant friends from the chamber, to save them from lengthy jail terms for rioting. Observers had questioned the decision by police to withdraw and allow protesters to flood and vandalise the parliament. As midnight struck, riot officers suddenly reappeared , marching in a tight, intimidating formation, banging their shields.The young protesters fled through the exits into clouds of teargas. Thousands who had gathered in the courtyard of the building raised their hands in gesture of surrender and ran through nearby Tamar park. Protesters storm the Legislative Council building on the anniversary of Hong Kong's handover to China in Hong Kong Credit: Reuters Others fanned out through the streets, maintaining an aggressive standoff that lasted into the early hours of the morning, and promising defiantly to return. As officers swept the building for any stray occupiers, the Hong Kong hospital authority said it had treated 54 people, including three in a serious condition. In the aftermath of the worst political crisis to hit the Hong Kong government since the 1997 handover, Ms Lam called a 4am press conference at the police headquarters. The CHRF and pan-democratic legislators, who had appealed for peace throughout the day, accused Ms Lam of fueling the crisis with her arrogant response. Lam is the culprit, they said in a joint late-night emergency statement. She has rejected to face the society, ignored the demands of the people and pushed youngsters towards desperation. 9:57PM US urges all sides in Hong Kong to avoid violence The US State Department has issued a statement urging caution. "We urge all sides to refrain from violence," a spokeswoman said. "Hong Kong's success is predicated on its rule of law and respect for fundamental freedoms, including freedoms of expression and peaceful assembly," she said. The United States has voiced solidarity with activists who succeeded in blocking - for now - a move by Hong Kong's pro-Beijing authorities to allow extraditions to the Chinese mainland, whose communist system is notorious for meting out harsh justice. 9:19PM Carrie Lam condemns 'extremely violent' storming of parliament Speaking at a dramatic 4am press conference on Tuesday morning, Carrie Lam, Hong Kong's Chief Executive, condemned the "extremely violent" storming of parliament. Appearing outside the police headquarters flanked by her security minister, she said the "scene that we have seen that really saddens a lot of people and shocks a lot of people is the extreme use of violence and vandalism. "This is something we should seriously condemn," she said. "Nothing is more important than the rule of law in Hong Kong." Ms Lam described Monday's events "heartbreaking and shocking" and said she hoped society would "return to normal as soon as possible," while acknowledging that thousands had marched peacefully in the city before the unrest. The protesters' demands included the withdrawal of an extradition bill as well as Ms Lam's resignation. Speaking in English and Cantonese, a defiant Ms Lam said Hong Kong would pursue any illegal acts committed by protesters. #HongKong s Chief Executive vows to pursue any illegal acts after #LegCo protest turned violent. At 4am news conference, #CarrieLam says shes saddened & angry pic.twitter.com/DziAZeTAQB Jon Williams (@WilliamsJon) July 1, 2019 "I hope the community at large will agree with us that with these violent acts that we have seen, it is right for us to condemn it and hope society will return to normal as soon as possible," she told reporters. The city's chief executive went on to describe the protests as "two completely different scenes: one was a peaceful and rational parade...the other one was a heartbreaking, shocking, and law-breaking scene." 8:14PM Jeremy Hunt said his "heart goes out" to protesters in Hong Kong Jeremy Hunt, the Foreign Secretary, said his "heart goes out" to protesters in Hong Kong. More than 50 people are reportedly injured. "When I look at those situations that we've just seen, and those terrible scenes in Hong Kong, my heart goes out to people who do have to fight for their freedoms and who are worried they could lose very, very precious way of life," Mr Hunt told Sky News. "I don't support violence in any circumstances but I understand their worries about changes that are happening in Hong Kong." China's foreign ministry delivered a sharply-worded rebuke after Mr Hunt said Britain will remain "unwavering" in its support for Hong Kong. A spokesman was quoted as saying that Britain needed to "know its place and stop interfering" in what was a "purely internal affair" for China. Meanwhile according to the South China Morning Post, the Hong Kong hospital authority said it had treated 38 men and 16 women following the protests, three of whom are in a serious condition. 8:04PM Pictures show extent of damage to parliament building These pictures show the extent of the damage to Hong Kong's legislative council Protesters break the windows of the Legislative Council Credit: Thomas Peter/Reuters The protesters were in the building for three hours Credit: Tyrone Siu/Reuters A security room in the Legislative Council Credit: Tyrone Siu/Reuters 7:00PM Campaigners urge Britain to give more rights to Hong Kong-based UK passport holders Campaigners handed the UK government a letter on Monday demanding more rights for the residents of Hong Kong who have British passports. A small demonstration was held outside Britain's parliament as Hong Kong residents urged lawmakers to give them a right to stay in Britain. "Bearing in mind that there are so many things happening in Hong Kong, we think that human rights, press freedom, freedom of speech etcetera, are all under threat," Karl Lee, a 32-year-old protester, said. "That's why many of us are thinking of relocating to the United Kingdom." With many young people looking for routes out of Hong Kong, the campaigners say Britain should change the status of the British National (Overseas) passport, a category created after Britain returned Hong Kong to China. Though the category allows passport holders to visit the UK for 6 months, they do not come with an automatic right to live or work in the United Kingdom. The protesters in London chanted "We are not Chinese, we are British," and Mr Lee said the current system for passport holders was unfair. "That's why we are urging the British government to do something to either rectify the issue or facilitate some of us who are looking to relocate here," he said. 6:19PM Riot police retake parliament Hong Kong riot police have taken back the city's parliament from anti-government protesters who had stormed the building hours earlier, an AFP reporter inside the complex said. Special Tactical Squad disperses protesters Credit: Justin Chin /Bloomberg Protesters had fled the building by the time riot police reached the sprawling government complex after firing tear gas rounds and baton-charging demonstrators in the streets outside. In the end, officers were able to walk into the ransacked main chamber without meeting any resistance. Only around two dozen reporters were left inside. 5:44PM Protesters tie British colonial flag to podium Some of the protesters tied the British colonial flag to the podium in Hong Kong's legislature. Protestors raise the British colonial flag inside Hong Kong LegCo building. pic.twitter.com/ZY0MFMvItY Strategic Sentinel (@StratSentinel) July 1, 2019 5:33PM Police advancing on parliament building Police have begun advancing on Hong Kong's legislature building to clear the protesters who broke into it and vandalised offices and the main chamber. An AP journalist said he could feel tear gas on Monday night as he and other media left the building with protesters. The crackdown began around midnight local time. Police earlier announced they would begin clearing the building and warned they would use appropriate force if they encountered resistance. Hundreds of protesters broke into the building at about 9 p.m. and spray-painted slogans on the walls of the main chamber. Meanwhile, hundreds of thousands of others marched through the city to demand expanded democracy on the 22nd anniversary of the former British colony's return to China. 5:20PM Hong Kong police move in to clear the hundreds of protesters Hong Kong police moved in to clear the hundreds of protesters who stormed the legislature, and fired tear gas at protesters outside parliament. Hours earlier, they had streamed into the legislature after shattering windows with metal trolleys and poles and wrenching open metal shutters. The council issued a red alert, ordering them to leave. But the riot police who had previously been pushing them back appeared to have retreated. Earlier, police had raced toward protesters, beating some with batons and using pepper spray to thin the crowds. As the day wore on, more people turned out to participate in a planned rally to mark the date the former British colony was given back to China in 1997. The organisers said some 550,000 attended. Anti-government protesters stormed Hong Kong's parliament building Credit: VIVEK PRAKASH/AFP/Getty Images 5:17PM Hunt shows support for protesters Jeremy Hunt, the British Foreign Secretary, tweeted in support of the demonstrations, saying: "No violence is acceptable but HK people must preserve right to peaceful protest exercised within the law." Away from campaigning want to stress UK support for Hong Kong and its freedoms is UNWAVERING on this anniversary day. No violence is acceptable but HK people MUST preserve right to peaceful protest exercised within the law, as hundreds of thousands of brave people showed today. Jeremy Hunt (@Jeremy_Hunt) July 1, 2019 5:17PM 'Seeing these young people like this, if I didnt come out, I couldnt have that on my conscience' I wanted to add to the crowd numbers so that the government could hear the dissatisfaction of so many people, said Gary, 35, a teacher, who declined to give his surname. Ming, 50, a business owner, told The Daily Telegraph: I have marched all three times. I completely support the young people and their ideals and ambitions, which is for the good of Hong Kong. "Seeing these young people like this, if I didnt come out, I couldnt have that on my conscience. Im in my fifties, what can we do for these young people? One thing we can do is come out and march." Pro-democracy activists use the handover anniversary every year to march through Hong Kong calling for greater freedoms, though have failed to win any concessions from Beijing. Coming after three weeks of ongoing rallies, this year's rally took on even greater significance. Hundreds of protesters poured into the building after hours of trying to break through windows Credit: Vivek Prakash/AFP Marches since June 9 have seen crowds swell to over one million with people demanding Hong Kongs Beijing-backed leader, Ms Lam, withdraw a controversial extradition bill. Rights activists argue that, if passed, it would see suspects face unfair trials in mainland China where the courts are controlled by the ruling Communist Party and authorities use torture to extract forced confessions. The proposed bill, which has been delayed but not scrapped since protests intensified, adds to growing fears that China is gradually snuffing out the citys freedoms, which were guaranteed for at least 50 years in a handover agreement between Britain and Beijing. China has become more willing to openly intervene in politics, barring individuals from running for the citys legislature, forcing elected lawmakers to step down, and jailing young activists. As fears over human rights have grown, Germany has recently granted asylum to two Hong Kong dissidents. Riot police had pushed protesters back earlier in the day but later retreated Credit: Anthony Kwan/ Getty Images The government is doing so much to threaten our way of life, said Jessica Yeung, 50, a university professor who left a family holiday in York early to come home and join the protests. We have to stand and safeguard our values. Mrs Ho, a manual worker in her fifties, said: Ive come out to all the marches. I am not just supporting the students, I am supporting our Hong Kong spirit. They said it was one country two systems, but its not like that anymore. As for the glass breaking, we dont know who they are. The latest rallies in Hong Kong represent the biggest popular challenge to Chinese president Xi Jinping since he came to power in 2012. The extradition issue has re-united Hong Kongs previously fractured anti-Beijing resistance movement which had been riven with in-fighting and squabbles between different camps. Police officers use baton to disperse anti-extradition protesters during a clash outside the Legislative Council Complex Credit: Getty Its a matter of a raw nerve having been touched for both the political groups and parties, as well as for the general public, so people came out, said Steve Tsang, director of the University of Londons SOAS China Institute. It didnt matter who was asking them, he said. They voluntarily and proactively went out to show how much they care about the consequences of allowing those laws to be passed. Protest organisers hope to transform our power from the streets into the political system, Bonnie Leung, vice-convenor of the Civil Human Rights Front, told The Telegraph, looking ahead to elections for the citys legislature next year. Its an opportunity for the resistance camp to win more seats and whittle down the current pro-Beijing majority, she said. As it stands, 43 of 70 seats are currently held by Beijing supporters in Hong Kongs Legislative Council. Then the government can no longer ignore our voices as they are doing now, said Ms Leung. Hong Kongers have also criticised the UK, urging London to do more to pressure China to uphold its end of the handover agreement, the Sino-British Joint Declaration. Anti-extradition protesters push barricades toward police on a street during a stand-off outside the Legislative Council Complex Credit: Getty The British suck, said Alex, a designer, 25, who declined to give his real name. They abandoned us and only paid us lip service. Protesters have been increasingly wary of their identities being revealed over fears of future backlash. Many have used umbrellas or donned face masks as a way to obscure their faces, as well as to defend against tear gas. On Sunday, Foreign Secretary Jeremy Hunt urged the Hong Kong authorities to respect the rights and freedoms ahead of anniversary date, reiterating the UKs support for the declaration. It is a legally binding treaty and remains as valid today as it did when it was signed and ratified over thirty years ago, he said. It is imperative that Hong Kongs high degree of autonomy, and the rights and freedoms of the Hong Kong people, are fully respected in line with the joint declaration and the Hong Kong basic law. Two years ago, China said the joint declaration was a historical document that no longer had any practical significance. Beijing reiterated its stance on Monday, calling on the UK to stop gesticulating and interfering in its former colony and that Britains rights and obligations under the joint declaration had ended. Police officers pepper spray during a clash with anti-extradition protesters Credit: Getty Britain has no so-called responsibility for Hong Kong, said Geng Shuang, a spokesman for Chinas foreign ministry. Hong Kong matters are purely an internal affair for China. No foreign country has a right to interfere. We urge Britain to know its place and stop interfering in any form in Hong Kong matters and do more for its prosperity and stability rather than the opposite, he added. Aside from Mr Gengs comments there was no mention of the protests in Hong Kong on Monday in China, where censors tightly control news and information. State media instead carried remarks from Mr Xi extolling the virtues of the Communist Party on the 98th anniversary of its founding coincidentally the same day as the handover anniversary. Protesters have indicated no plans of backing down unlike past demonstrations, the latest wave have coalesced through a groundswell from many groups political parties, labour unions, business groups, schools rather than one main convenor. This is a pretty organic movement; there is not one single organizer like in 2014, where everyone was looking to the student leaders, Dennis Kwok, a politician who opposes the extradition bill, told the Telegraph. There are no leaders in this one. Additional reporting by Yiyin Zhong
Dow Jones Today: Trade News Was Certainly Sold The old Wall Street saying “buy the rumor, sell the news” was in full effect Monday. Following news released over the weekend that the U.S. and China are willing to restart trade talks, accompanied by some encouragingtweets from President Donald Trumpto that effect, the major U.S. equity benchmarks opened significantly higher Monday. Source: Shutterstock Holding those big gains was a different story as theNasdaq Compositeand theS&P 500closed higher by 1.06% and 0.77%. TheDow Jones Industrial Averagestarted the week to the upside by 0.44%. In late trading, about two-thirds of the Dow’s 30 members were higher, but that group did not include, perhaps surprisingly, all of the Dow’s technology components. Technology, the largest sector weight in the S&P 500, has been anepicenter for tariff talks. It is widely expected the group will rally if US-China trade hostilities ease. InvestorPlace - Stock Market News, Stock Advice & Trading Tips President Trump cleared the way forHuawei, the controversial Chinese telecommunications company, to resume purchases of products from U.S. technology firms, as long as those goods are not related to national security. Even with that news, however, Dow semiconductor nameIntel(NADSAQ:INTC) closed up just 0.38% today. While there were some obvious disappointments today–we’re looking at you, Intel–many of the Dow’s best performers were names with high tariff sensitivity. Prime example:Apple(NASDAQ:AAPL), which added 1.83% to rank as one of the Dow’s best-performing components today. That’s a good start to the third quarter, a period in which the iPhone maker historically delivers for investors, but some analysts are cautious. • 7 F-Rated Stocks to Sell for Summer “Bank of America Merrill Lynch analyst Wamsi Mohan on Monday reiterated his Buy rating for Apple stock, but he’s becoming more cautious over the smartphone maker’s app store sales in China,”reportsBarron’s. “Mohan cited third-party data on app store sales which implied Apple China app store sales growth went from 23% year-over-year in April, to 19% in May, and 5% in June.” Another Dow winner on Monday wasCoca-Cola(NYSE:KO), which added 1.34% after an arbitrator ruled the world’s largest soft drink maker can sell its own energy drink. That ruling could jeopardize Coca-Cola’s partnership withMonster Beverage(NASDAQ:MNST), a stock that found a way to close higher today, too. “An arbitration tribunalruled on June 28that Coca-Cola Energy did not violate the non-compete clause in the company’s contract with Monster,”reportsThe Atlanta Business Chronicle. “According to the ruling, Coke can continue to sell the drink in the markets it has already launched in and can expand to other markets as it sees fit.” JPMorgan Chase(NYSE:JPM) was another Dow leader today, likely a symptom of what we notedhere last Friday.The bank has impressive plans to return major amounts of capital to shareholders via an increased dividend and bigger-than-expected share buyback effort. Dow(NYSE:DOW), the only chemicals name in the Dow Jones Industrial Average (and a somewhat tariff-sensitive name at that), added 1.72% today and has recently been showing some signs of life. Read anarticle from last weekabout why the stock is inexpensive and may not be that way for long. Following the G-20 summit, it is important for all investors to realize what happened. Simply put, two bickering sides said they are going to talk on cordial terms. What comes of those negotiations remains to be seen. The U.S.-China relationship is one with long-term implications and the U.S. deficit with China of $420 billion (in 2018) will not be erased overnight. Trade issues with China are not put to bed, but with the trade meeting over, market participants will be looking elsewhere for catalysts. Second-quarter earnings will be one of the catalysts, but how negative or positive is yet to be determined. “Heading into the end of the second quarter, 113 S&P 500 companies have issued EPS guidance for the quarter,”said FactSet. “Of these 113 companies, 87 have issued negative EPS guidance and 26 companies have issued positive EPS guidance. The number of companies issuing negative EPS for Q2 is above the five-year average of 74.” Todd Shriber does not own any of the aforementioned securities. • 2 Toxic Pot Stocks You Should Avoid • 7 F-Rated Stocks to Sell for Summer • 7 Stocks to Buy for the Same Price as Beyond Meat • 7 Penny Marijuana Stocks That Are NOT Cheap Stocks Compare Brokers The postDow Jones Today: Trade News Was Certainly Soldappeared first onInvestorPlace.
‘All Time Lows’ by Lil Bubble Captures Spirit as Altcoins Fail to Pace Bitcoin A new anthem for altcoin HODLers dropped harder than that market did in March 2018, potentially signaling cryptos’ return to meme-driven, pop-cultural awareness. Despite bitcoin’s surge in price and attention last week, most altcoins were unaffected by the market drive. Prior to the recent market exuberance directed at the largest cryptocurrency by capitalization, an “Alt-Season” – comprised of 118 cryptos that increased faster year-over-year than bitcoin – was in play. Related:Blockchains.com Founder Buys Community Bank to Finance Crypto Dreams Lil Bubble’s All-Time Lows, a parody ofLil Nas X’s Old Town Road, showcases the mindset and strategy of those playing the altcoin long game. Bagholders retweeted the song 2,291 times and lauded it with 6,686 likes on Twitter since it was published yesterday evening, at press time. In the music video, a spaceman wearing a “ledger on [their] neck” plays an acoustic guitar and tells of their intention to ride their alts down to all time lows, and buy until they cannot do so anymore. They reason that the alts are oversold, and therefore undervalued, and will one day increase in price. In other words, they are going to the moon. Hence the spacesuit. The spaceman ambles through the desert as the sun sets behind them, never sharing the shot with a spaceman that walks alongside, carrying garbage bags presumably filled with altcoins such asLitecoin, Bytecoin,Zilliqa,Icon,Vechain, andVerge. Related:JPMorgan CEO Dimon Says Crypto Companies ‘Want to Eat Our Lunch’ At one point the spaceman sits and reflects, perhaps wondering how they ended up in such a desolate place. “FOMO buy the pump, Panic sell the dump,” is the rejoinder. However, this could not be the adventure’s case, as they know they haven’t lost so long as they have not sold. They check their phone while holding a stack of hundred dollar bills, looking instead to buy more. The spaceman sayeth: Buying all these sh*tcoinsYou can keep your bitcoinI am broke as hellBut I will never sell In a moment of pure will the spaceman replies to himself, “I’ll be holding bags ‘cause I’m never missing my chance.” The account that hosts the song did not respond to a request for comment. TheCryptoBubble account identifies as a “$hitcoin extraordinaire,” and previously published a rueful rendition of Gary Jules’ “Mad World” calledWhenMoon? • Trump Administration in Talks With Crypto Startup on Israeli–Palestinian Peace Plans • Pot Startup Uses the Blockchain to Smoke Out Weed Strains
Why Medicare for all could 'dramatically' increase access to medical marijuana Medicare for all may not be just a Democratic talking point as the 2020 campaign kicks into high gear. It could also “dramatically” increase access to medical marijuana, according to Nicholas Vita, CEO of cannabis company Columbia Care. “I think it would eliminate the financial subsidy for people to use products like opioids,” he told Akiko Fujita and Brian Sozzi on Yahoo Finance’s “The First Trade” on Monday. He added that it could “actually open the door for them to use products that are potentially much less harmful and more efficacious like medical cannabis.” Agovernment reportreleased in January shows that over 130 people in the United States die every day from an opioid overdose. The Centers for Disease Control and Prevention puts the economic burden of the opioid epidemic at around $78.5 billion a year; which includes lost productivity, cost of health care, addiction treatment, and court costs. Currently, Medicare typically covers health care for U.S. adults 65 and older. However, under the Medicare for All Act introduced by Sen. Bernie Sanders (I-VT)health care would be guaranteed for all U.S. residentsregardless of age. With the future of Medicare for all up for debate, Vita is taking steps to help get medical marijuana in the hands of those who need it most. “Because of the way cannabis is handled, there’s no access to credit, which is the most common form of transactions for consumers. We thought that alleviating one of the most important bottlenecks, we can actually increase access in a significant way.” This was the thinking that went behind the Columbia National Credit Program (CNC Card). It’s the nation’s first credit card for the cannabis industry, and it allows customers to charge orders in all of Columbia Care’s markets. “Most banks won’t touch the industry because of issues. We found a way to provide transparency,” Vita stated. “For us it’s not only a temporary solution but a long-term solution that can eventually be folded in to a more traditional form of credit.” Nick Monteis a producer on ‘The First Trade’ Read more: Google, Microsoft could disrupt the entire video game industry Major concern as automakers deal with a bumpy road through Mexico The risky things travelers do that compromise their cyber security Read the latest financial and business news from Yahoo Finance Follow Yahoo Finance onTwitter,Facebook,Instagram,Flipboard,LinkedIn,YouTube, andreddit.
Fernando takes it all with winning knock for Sri Lanka Sri Lanka didn’t have to wait very long or look very hard to find their silver lining. Avishka Fernando bludgeoned a brilliant century against the West Indies in Durham, becoming at the age of only 21 the third youngest man ever to make a century on the biggest stage of all. When he brought up his three figures at Chester-le-Street, the cricketing world rose to welcome him. Chris Gayle could only stand and applaud at slip, a visibly-excited Kumar Sangakkara in the gantry proclaimed his successor: ‘This man is the real deal,' and Sri Lanka had some much-needed cause for celebration, after England’s win over India the previous day had ended their hopes of making the semi-finals. After a couple of cameos already at this tournament, Fernando’s star went supernova here in the north east. First called-up by his country all the way back in 2016 – before he had even played a first-class or List A game – Fernando has long been considered the next big thing. And at this World Cup, where Sri Lanka have the oldest squad in the tournament, an injection of optimism and youthful vigour has been craved. The thickset Fernando has brought it by the bucketload. Anyone who saw him hook Jofra Archer over the electronic scoreboard in Leeds ten days ago might have had an inkling this was coming. How impressive were these two young batsmen, who stood up for their teams today! Good signs for West Indies and Sri Lanka cricket? #CWC19 \| #SLvWI pic.twitter.com/1O3C33rAOy — Cricket World Cup (@cricketworldcup) July 1, 2019 Having smashed 49 off only 39 balls in that England game, he added another quick-fire 30 in the defeat to South Africa last week. Story continues But against the West Indies he turned those sneak peaks into the full feature – his 104 off only 103 balls was Sri Lanka’s first century in this World Cup. But, unlike his previous fast starts, Fernando began more circumspectly here. He doesn’t have the textbook technique of a Sangakkara or a Mahela Jayawardene – and with his feet stuck on the crease he found himself wafting at a few wide ones early on. The impressive platform provided by Sri Lanka’s openers once again appeared in danger of being wasted. But it is not just the youngster’s uncomplicated and upright stance that marks him out – the thinking as well as the technique are simple and clear: See ball, hit ball. And once he had found his rhythm on this decent Durham deck, the fearless young man got to work. A couple of flashes through point and meaty straight drive got him started, but his real calling card is his brilliance on the short ball. He pulled Sheldon Cottrell for an enormous six and his 50 came up in similar style, fetching a ball from well outside off and clubbing it aerially into the leg side for a one-bounce four. He marked that first milestone with a single fist pump and a cursory glance to the balcony. He was hungry for more. The West Indies carried on with their short-ball barrage and Fernando just gobbled it up. A second six off Cottrell brought his century within range, while in between he rotated the strike and allowed Sri Lanka to finally end their middle-over misery at this tournament. 🔹 First #CWC19 century by a Sri Lankan 🔹 Youngest Sri Lankan to hit a World Cup 💯 Unsurprisingly, Avishka Fernando is the Player of the Match for #SLvWI 🔥 #LionsRoar pic.twitter.com/pBU5dTcCGd — Cricket World Cup (@cricketworldcup) July 1, 2019 Kusal Mendis has been the new kid on the block in this Sri Lankan batting line-up for what feels like forever. But here he was the old man on the street corner, reduced to spectator for much of this third-wicket partnership as Fernando cut and pulled with impunity. This was only Fernando's second ODI half-century, his last coming as an opener against Scotland. An ankle injury then cost the young man his place to Lahiru Thirimanne for this World Cup and he has had to bide his time before earning a recall. But he has certainly taken his chance when it came round again. Indeed, it was fitting that it was Thirimanne – now recast as a No.6 to accommodate the young blood – at the other end when Fernando scrambled through for his maiden century. The third youngest man ever to reach three figures at a World Cup and the third youngest Sri Lankan to ever achieve the feat, full stop. He perished soon after – hitting out for his team as Sri Lanka posted their best 50-over total of this tournament by a country mile – and walked off to a hero’s reception. Chandika Hathurusingha was one of the first to greet him. Earlier this week Sri Lanka’s head coach had said about Fernando: "I think he is ready for the next World Cup for sure. He is very talented and a lot of big things will come from him.” Those big things have arrived sooner than expected… © ICC Business Corporation FZ LLC 2019
Announcing: Group (ASX:PTB) Stock Increased An Energizing 153% In The Last Five Years 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 the bright side, if you buy shares in a high quality company at the right price, you can gain well over 100%. One great example isPTB Group Limited(ASX:PTB) which saw its share price drive 153% higher over five years. Meanwhile the share price is 4.3% higher than it was a week ago. View our latest analysis for Group To quote Buffett, 'Ships will sail around the world but the Flat Earth Society will flourish. There will continue to be wide discrepancies between price and value in the marketplace...' One imperfect but simple way to consider how the market perception of a company has shifted is to compare the change in the earnings per share (EPS) with the share price movement. During the last half decade, Group became profitable. That kind of transition can be an inflection point that justifies a strong share price gain, just as we have seen here. You can see below how EPS has changed over time (discover the exact values by clicking on the image). Dive deeper into Group's key metrics by checking this interactive graph of Group'searnings, revenue and cash flow. As well as measuring the share price return, investors should also consider the total shareholder return (TSR). Whereas the share price return only reflects the change in the share price, the TSR includes the value of dividends (assuming they were reinvested) and the benefit of any discounted capital raising or spin-off. Arguably, the TSR gives a more comprehensive picture of the return generated by a stock. As it happens, Group's TSR for the last 5 years was 327%, which exceeds the share price return mentioned earlier. This is largely a result of its dividend payments! It's good to see that Group has rewarded shareholders with a total shareholder return of 41% in the last twelve months. Of course, that includes the dividend. Since the one-year TSR is better than the five-year TSR (the latter coming in at 34% per year), it would seem that the stock's performance has improved in recent times. Given the share price momentum remains strong, it might be worth taking a closer look at the stock, lest you miss an opportunity. 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 would prefer to check out another company -- one with potentially superior financials -- then do not miss thisfreelist of companies that have proven they can 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.
'Windy City Rehab' Star Alison Victoria Wants to Transform Chicago, One Street At a Time Photo credit: thealisonvictoria - Instagram From House Beautiful HGTV star Alison Victoria officially has Season 2 of Windy City Rehab in the works and while viewers may have to wait until early 2020 for new episodes, there’s a lot to learn about the 37-year-old home reno expert. Not only has she busted down walls while flipping houses, but she’s also broken barriers throughout her successful career. Her latest project has her joining three other phenomenal HGTV women for the competition series, Rock the Block , and it’s clear that she’ll be a fierce competitor given her amazing path thus far. Here are eight reasons why Alison Victoria is a woman to watch in the design and house flipping world. She's a Chicago native, born and raised. Before Windy City Rehab premiered, Alison shared that it was her dad who inspired her admiration of Chicago homes. While growing up, he would take Alison and the rest of the family on long car rides around the city. "I would see all these houses and I just would like dream of living in one of them one day," she told Roku . "It's an even bigger dream to be rehabbing a ton of them now." View this post on Instagram A post shared by alisonvictoria (@thealisonvictoria) on Aug 16, 2018 at 11:18am PDT She flipped the historic, run-down home she once lived in. After restoring the Wicker Park property, which everyone once ignored, Alison told Roku that passersby would actually stop and take photos of it. From there she knew renovating homes was in her blood and she wanted to continue doing this "on every single street in Chicago." She was the youngest designer at Christopher Homes. In 1999, Alison moved from Chicago to Las Vegas to attend the University of Nevada. Once she graduated, she began working at Christopher Homes in Las Vegas, becoming the youngest designer there. She created interior designs for " affluent, semi-custom residences. " Two years later, she launched Alison Victoria Interiors. View this post on Instagram A post shared by alisonvictoria (@thealisonvictoria) on Jul 13, 2014 at 7:56am PDT The consulting firm had two locations: one in her home city of Chicago and one in Las Vegas. The 37-year-old had a mix of clients that ranged from boutiques to resorts to private residences. Story continues She was the first female host of DIY Network’s Crashers franchise. The Crashers franchise included House Crashers , Bath Crashers , Room Crashers , Yard Crashers , and thanks to Alison, Kitchen Crashers was founded. She was originally a ghost designer for House Crashers , which meant she designed episodes but didn’t appear on-camera. The HGTV star recalled seeing her logo on screen for " one split second. " This, however, was an important stepping stone because it eventually allowed her to pitch her own version of the show, Kitchen Crashers , and then went on to become the franchise's first female host. For those of you who didn't watch the DIY Network show, Alison would go to home improvement stores where she would convince unsuspecting shoppers to let her go home with them and remake their kitchens for free. She had immediate success with her HGTV show, Windy City Rehab . Though her kitchen designs in Kitchen Crashers were seriously to die for, Alison's dream of transforming the city of Chicago one street at a time officially became a reality on Windy City Rehab . In the hit HGTV show, Alison and lead contractor Donovan Eckhardt buy and renovate vintage fixer uppers in historic Chicago neighborhoods to sell for a profit. She often decorates with the fan-favorite Anthropologie mirror. If you're an avid Windy City Rehab watcher, or even if you just decide to pop into an episode out of the blue, chances are pretty high you'll catch a glimpse of the coveted Gleaming Primrose Mirror from Anthropologie . Honestly, though, who can blame her? She loves to binge-watch HGTV’s House Hunters International. Like most of us, Alison also enjoys binge-watching HGTV and when she does, House Hunters International is her go-to show because she dreams of living in Paris one day. View this post on Instagram A post shared by alisonvictoria (@thealisonvictoria) on May 5, 2019 at 12:09pm PDT Follow House Beautiful on Instagram . You Might Also Like 7 Secrets HomeGoods Employees Won't Tell You 19 Closet Organization Ideas You'll Want to Steal Immediately 15 Styling Tricks That Make A Small Living Room Seem Bigger Than It Is
10 Investing Tips From Phil Fisher That You Shouldn't Ignore Phil Fisher'sCommon Stocks and Uncommon Profitsis widely regarded as one of the best investment books of all time. Fisher was an admired investor and a prolific author. His work earned the respect of other legendary investors, such as Warren Buffett, who once wrote, "I am an eager reader of whatever Phil has to say, and I recommend him to you." That's a powerful endorsement, and even just a quick look at some of Fisher's writing can help you see why his works are considered classics. Here are some of Fisher's most valuable investment tips -- all of which can help you create long-term wealth. Image source: Getty Images. 1. "The stock market is filled with individuals who know the price of everything, but the value of nothing." Price and value are two very different things. Recognizing this fact is the first step to investing success. 2. "It is often easier to tell what will happen to the price of a stock than how much time will elapse before it happens." Even if we're confident that a stock will appreciate in value, we can never be certain when that will happen. Thus, we should factor that reality into our investment strategies -- and give ourselves time to be proved correct. 3. "The only true test of whether a stock is "cheap" or "high" is not its current price in relation to some former price, no matter how accustomed we may have become to that former price, but whether the company's fundamentals are significantly more or less favorable than the current financial-community appraisal of that stock." The market doesn't care what price you paid for a stock. You shouldn't, either. It's natural to anchor to your purchase price, but it's far more important to value a stock based on the underlying business' future growth prospects. If your estimate of the stock's value is more than the market's view, you should probably continue to hold it. But if the opposite is true, you'll probably be best served by selling the stock, even if it's below the price you paid. 4. "If the growth rate is so good that in another 10 years the company might well have quadrupled, is it really of such great concern whether at the moment the stock might or might not be 35% overpriced?" The best growth stocks almost always seem expensive -- except in the rearview mirror. Value-focused investors often miss out on them for that reason, much to their detriment. Being willing to pay a premium for companies with excellent growth prospects can help you generatemarket-crushing returnsover time. 5. "It is my observation that those who sell such stocks to wait for a more suitable time to buy back these same shares seldom attain their objective. They usually wait for a decline to be bigger than it actually turns out to be." Attempting to time the market is typically a fool's errand. As Fisher explains, it's often quite difficult to buy back stocks during market downturns, as these pessimistic times tend to make investors believe that things will continue to get worse. And when the market eventually rebounds, it climbs a "wall of worry," with investors fearing that numerous risks will cause stocks to fall the entire time. Because the market doesn't give clear buy and sell signals, it's often best to simply ride out the market's volatility to benefit fully from its long-term gains. 6. "More money has probably been lost by investors holding a stock they really did not want until they could 'at least come out even' than from any other single reason. If to these actual losses are added the profits that might have been made through the proper reinvestment of these funds if such reinvestment had been made when the mistake was first realized, the cost of self-indulgence becomes truly tremendous." The opportunity cost of forgoing a superior investment can be much greater than the losses you incur on an underperforming stock. Don't make the mistake of holding on to subpar investments in hopes of getting back to even. Instead, seek to optimize your portfolio with the best businesses you can find. 7. "Investors have been so oversold on diversification that fear of having too many eggs in one basket has caused them to put far too little into companies they thoroughly know and far too much in others which they know nothing about." Diversification through tools such asindex fundscan serve most investors well. But for investors willing to put in the time and effort to study individual stocks, too much diversification can dampen results. A more concentrated portfolio of carefully chosen stocks can help a skilled investor outperform the market. 8. "In the field of common stocks, a little bit of a great many can never be more than a poor substitute for a few of the outstanding." Well-run,competitively advantagedbusinesses with strong growth prospects are not always easy to find. Fortunately, you'll only need to identify a handful of them for a lifetime of investing success. 9. "If the job has been correctly done when a common stock is purchased, the time to sell it is -- almost never." When you do find a great business, resist the urge to sell. The desire to lock in gains can be powerful, but the truly life-changing returns only come from holding stocks for long periods. 10. "I had made what I believe was one of the more valuable decisions of my business life. This was to confine all efforts solely to making major gains in the long run." The financial media will attempt to grab your attention with seemingly important, but ultimately, short-term concerns. Keep your focus on the long-term fundamentals of your investments, and you'll maximize your returns and build lasting wealth. More From The Motley Fool • 10 Best Stocks to Buy Today • The $16,728 Social Security Bonus You Cannot Afford to Miss • 20 of the Top Stocks to Buy (Including the Two Every Investor Should Own) • What Is an ETF? • 5 Recession-Proof Stocks • How to Beat the Market The Motley Fool has adisclosure policy.
Social Security Earnings Statements Could Start Hitting Your Mailbox Again Seniors who collect Social Security often go into retirement knowing how much to expect in benefits. That's because they're able to obtain that information from their annual earnings statements. But for the past number of years, accessing those statements has been easier said than done. Since 2012, the Social Security Administration (SSA) has done away with mailing those statements for workers under 60. Those who don't receive a paper copy by mail have the option to view that information online by creating an account on the SSA's website. The problem, however, is that many just don't take that step. A report from the Social Security Office of the Inspector General released earlier this year found that only 43% of registered users on the SSA's website accessed their online statements in 2018, down from 48% in 2017 and 53% in 2016. That's a problem, because those statements contain not only information about estimated benefits but also also wage details that help determine those benefits. A hand reaches into a mailbox full of mail. IMAGE SOURCE: GETTY IMAGES. Viewing those statements is important, because workers who spot errors on their statements must get them corrected to avoid potentially losing out on Social Security income down the line. They can't do that, however, if they don't access those statements in the first place. The good news, however, is that Congress is considering reinstating paper earnings statements for all workers aged 25 and over. It's all part of a bill called the Beneficiary Education Tools, Telehealth, and Extenders Reauthorization Act of 2019, or BETTER Act, and it could be instrumental in prompting workers to be more proactive about reviewing their statements. The downside, of course, is the cost associated with sending those statements in the mail. And given that Social Security is already facing some funding shortfalls , that could exacerbate an already brewing problem. On the other hand, making earnings statements more accessible could make it easier for workers to plan for retirement, all the while helping them avoid reductions in benefits due to clerical and reporting errors. Story continues The importance of reviewing earnings statements Earnings statements from the SSA serve two key purposes. First, they estimate benefits at full retirement age, which could help many workers budget and plan for their golden years. Of course, the closer to retirement a given worker is, the more accurate his or her benefits estimate is likely to be. But if anything, it's a good starting point for those wondering how much income to look forward to from Social Security, and how much income to rely on their own savings to provide. Just as importantly, reviewing earnings statements regularly for errors could help prevent needless reductions in benefits. It could be the case that a given worker's earnings one year are recorded in an amount that's, say, $20,000 lower than the wage he or she actually collected. That sort of discrepancy could then bring down that person's benefits in retirement, since those monthly payments are calculated based on workers' top 35 years of wages. It's also possible for the SSA to have no earnings on file for a worker during a given year when, in fact, he or she made a substantial salary. Granted, major errors are hardly par for the course. But they can happen, and without easy access to those earnings statements, many workers risk glossing over them and failing to get them corrected. Therefore, while mailing out paper statements might cost the SSA some money, it's an expense that may be more than worthwhile. More From The Motley Fool Here's How to Get the Maximum Social Security Benefit The $16,728 Social Security Bonus You Cant Afford to Miss 5 Top Dividend Kings to Buy and Hold Forever Is Social Security Taxable? The Motley Fool has a disclosure policy .
Pregnant Woman Who Vanished on Way to Show Sonogram to Father Is Found Dead Days Before Due Date Update: Makayla Winston, the 21-year-old Mississippi woman who vanished last Thursday and was nine months pregnant, was found dead about five miles from where her car was previously spotted, Holmes County Sheriff Willie March tells PEOPLE. While there are currently no suspects, he says, “We think it could have been somebody who knew her.” Her body has been taken to the state crime lab to determine the cause and manner of death, he says. “The investigation continues,” he says. “We are going to find out what happened to her. I feel very sorry for the family.” Winston was due to have her baby on July 4. A nine-months pregnant Mississippi woman who was on her way to show a sonogram to the baby’s father vanished on Thursday with police desperately searching for her. On Friday morning, police found Makayla Winston’s car abandoned off Highway 14, near Interstate 55, with the keys in the ignition and a cell phone lying in the grass nearby , Holmes County Sheriff Willie March told local station WCSC. Officials suspect foul play, he said. Investigators believe there may have been a white vehicle parked behind the 21-year-old expectant mom at some point, he told the outlet. “Kind of like an SUV. But no one knows who was driving the SUV,” March told WCSC. “The cell phone was cleaned up so we’re also doing an investigation on the cellular phone, trying to find out what was erased,” said March. The Mississippi Bureau of Investigation has interviewed several people about Winston’s disappearance, WCSC reports. Makayla Winston, 21 \| National Center for Missing and Endangered • Want to keep up with the latest crime coverage? Click here to get breaking crime news, ongoing trial coverage and details of intriguing unsolved cases in the True Crime Newsletter. Meanwhile, Winston’s family and friends continue to worry about the woman, who is due to give birth on Thursday. “I just want my baby home,” Yvetty Brown told local station WLBT 3. Winston was last seen leaving her home in Goodman at about 9 p.m. Thursday, Story continues “She was heading to show the sonogram to the baby’s father,” said Brown. Brown and her family searched for her daughter in the places where they thought she might be, “but she wasn’t there,” she told WLBT 3. Brown pleaded for her daughter’s safe return. “Let my baby go,” she told local station WJTV. “Let her come home and enjoy her first child because we love her… and we’re going to take care of the baby no matter what. So I just want my baby to come home.” Anyone with information about Winston or her whereabouts is asked to call the Holmes County Crime Stoppers at (662) 834-0099.
What Happened in the Stock Market Today Investors were encouraged by the outcome of trade talks at the G-20 meeting this weekend, and tech stocks led the market higher on Monday. TheS&P 500(SNPINDEX: ^GSPC) finished at a record high, and theDow Jones Industrial Average(DJINDICES: ^DJI) also rose, ending the day just 0.2% below its record close. Index Percentage Change Point Change Dow 0.44% 117.47 S&P 500 0.77% 22.57 Data source: Yahoo! Finance. As for individual stocks, two acquisitions were in the news.Brookfield Infrastructure Partners LP(NYSE: BIP) announced an agreement to takeGenesee & Wyoming(NYSE: GWR) private, andApplied Materials(NASDAQ: AMAT) will buy a semiconductor equipment business fromKKR & Co.(NYSE: KKR). Shares of short-line railroad operator Genesee & Wyoming soared 8.9% after the company announced it'sagreed to be taken privateby an affiliate of Brookfield Infrastructure Partners and GIC, the investment firm that manages Singapore's foreign reserves. The investors are offering $112 per share in cash for the rail company, which represents a 39.5% premium to the share price the day beforenews of a potential agreement leaked to the press. The deal, worth about $8.4 billion, is subject to approval by two-thirds of G&W shareholders and regulatory approval and is expected to close by year-end or early 2020. Brookfield has been selling off slower-growing assets like its electricity business in Chile and recycling those funds intonew businesses to recharge growth. G&W has bought up small regional lines and now operates 120 freight railroads in the U.S., Australia, and Europe, generatingdouble-digit profit growth. Semiconductor equipment leader Applied Materials announced an agreement to buy Kokusai Electric from global investment company KKR for $2.2 billion in cash. Shares of Applied Materials opened 3.8% higher on the news but ended the day with a 1.7% gain. KKR shares rose 2.4%. Kokusai Electric makes thin film deposition systems for processing silicon wafers for semiconductors, specializing in the tiny geometries needed for chips for growing markets like artificial intelligence, the Internet of Things, and self-driving cars. It was originally a subsidiary of Hitachi, but under KKR was repositioned as a pure-play semiconductor equipment maker, posting $1.2 billion in revenue in fiscal 2018. Applied Materials has beenworking through a slowdownin the semiconductor equipment industry, but the purchase adds high-productivity wafer batch processing systems, with the ability to process multiple wafers at once, to complement the company's single-wafer systems. Applied Materials' CFO deflected a question about acquisitions in the most recentconference call, but the company expects the deal to be immediately accretive to earnings, and investors seemed to approve today. More From The Motley Fool • 10 Best Stocks to Buy Today • The $16,728 Social Security Bonus You Cannot Afford to Miss • 20 of the Top Stocks to Buy (Including the Two Every Investor Should Own) • What Is an ETF? • 5 Recession-Proof Stocks • How to Beat the Market Jim Crumlyhas no position in any of the stocks mentioned. The Motley Fool recommends Applied Materials, Brookfield Infrastructure Partners, Genesee & Wyoming, and KKR. The Motley Fool has adisclosure policy.
Trump says Iran 'playing with fire' after exceeding nuclear deal limit WASHINGTON, July 1 (Reuters) - U.S. President Donald Trump said on Monday Iran was playing with fire after Tehran said it had exceeded its limit for low-enriched uranium allowed under a 2015 nuclear deal with world powers. Asked at a White House event if he had a message for Iran, Trump said he did not have a message, but Iran knew what it was doing and was "playing with fire." (Reporting by Jeff Mason; Writing by Mohammad Zargham; editing by Grant McCool)
FreightWaves Acquires American Shipper FreightWaves CEO Craig Fuller discusses the acquisition of American Shipper in this video. FreightWaves, the leading source of news, data and insights for the freight markets, has acquiredAmerican Shipper, a leading news publication serving the global shipper community. American Shipper, founded by David A. Howard, was first published in May 1974 and is designed to serve the information needs of shippers, carriers and third parties involved in international transportation and for executives managing international logistics and supply chains. "American Shipperhas served as the voice of beneficial cargo owners (BCOs) and shippers worldwide for the past 45 years. Its editorial team is first-rate and provides context for the global shipping community that is unmatched by any publication in the market," stated Craig Fuller, CEO of FreightWaves. American Shipper'seditorial and content team will join the FreightWaves staff, but will maintain a separate voice and identity among the FreightWaves editorial team. FreightWaves plans to invest millions of dollars to expand the editorial team of theAmerican Shipperpublication, while upgrading and enhancingAmerican Shipper'sdigital footprint and platform. "Changes in the freight market are happening faster than ever. Participants demand information that is relevant for what is happening now, informed by data and commentary that is timely and available across all forms of digital media, whether it is web, podcast, video, radio or through smart devices." Fuller stated. "American Shipperjournalists, contributors and sponsors will now have access to the world's largest audience for transportation and logistics news and content. Best of all, like all commentary and news content offered by FreightWaves, allAmerican Shippercontent will be available without a restrictive paywall." The content featured onAmerican Shipperwill include supply chain, forwarding, cross-border, international trade, global container shipping, Jones Act shipping, supply chain technology and legislative and regulatory issues that impact the industry. FreightWaves will bring additional supply chain technology and freight markets commentary toAmerican Shipper. In addition, FreightWaves will be adding additional voices to the platform, including Market Experts on FreightTech, IMO 2020, economics, global trade, freight market capacity, rail, air, warehousing and supply chain. "American Shipperhas a much larger audience among shippers/BCOs than FreightWaves. We recognize that this is an area where there is plenty of room for growth. By bringingAmerican Shipperto the FreightWaves platform, but keeping the brand and editorial teams separate, we will broaden our reach among BCOs." Fuller stated. FreightWaves has extensive creative resources that provide a multi-channel offering, taking advantage of social media, TV, video, streaming, radio, podcasts, webinars, infographics and live events. Soon,American Shipperreaders and sponsors will enjoy access to all of the digital content resources of FreightWaves, but tailored to their needs. In addition to content, FreightWaves has been investing substantially in data assets that track global multi-modal trade. These are integrated into FreightWaves' proprietary dashboard, SONAR. These datasets provide an unmatched near-time perspective on freight movement and supply chain risks that impact participants globally, across all modes. FreightWaves LIVE, the largest FreightTech event on the planet, will be expanding to include companies that service global shipping and supply chain participants, including ocean shipping, air, rail and warehousing.The next FreightWaves LIVE event will be held in Chicago on November 12-13. Image sourced from Pixabay See more from Benzinga • FreightWaves NOW: China-U.S. Ocean Container Rates Up, 2017 Spot Market Returns • Commentary: Moving Grain Is A Major Market For U.S. And Canadian Railroads • This Week's Freight Forecast, 7-1 © 2019 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
New state, local laws affecting business take effect July 1 NEW YORK (AP) — With the arrival of July 1, many states and municipalities have new laws and regulations in effect affecting small businesses. While statutes in jurisdictions outside a company's location or operating area may not have a direct impact on the business, legislatures often follow the lead of one another — so a new law in one state or city might be the inspiration for a similar law in another state. A look at some of the new laws: —Minimum wages are going up 75 cents to $14 an hour in Washington, D.C., by $1.15 to $10 an hour in New Jersey and 50 cents to $11.25 in Oregon. —New York City has joined the list of cities that have prohibited restaurants and other business from using polystyrene foam containers, cups and plates for take-out food, and foam peanuts used as packing material. (The foam stuff will be off-limits to city residents on Jan. 1.) —Tennessee is legalizing NCAA basketball tournament bracket pools, which are illegal in many states even though millions of people take part in them, including pools that are set up where they work. But there is a provision that business owners should be aware of: The pools cannot be managed by a business entity, so bosses may want to steer clear of running March Madness pools themselves. And, there's a $1,000 limit on the size of the pool. —In Minnesota, $40 million in state funds are being given to rural areas to improve their broadband access. —Virginia has new laws making it harder for landlords to evict tenants who are late with their rent. With thousands of state and local laws and regulations going into effect every year, many affecting businesses might not get much publicity. Some business owners might not find out about a law until they've been cited for a violation. Keeping up with changes may be difficult. Some suggestions to help owners stay informed: —Join local chambers of commerce and trade, industry or professional organizations. These groups often keep an eye on legislative changes. —Check your state or local government website to see what actions the legislatures or councils have taken. _____ Follow Joyce Rosenberg atwww.twitter.com/JoyceMRosenberg. Her work can be found here:https://apnews.com
Kaley Cuoco Is Starring in a New Drama Series Called 'The Flight Attendant' A "Penny" for your thoughts on Kaley Cuoco's new show? The Big Bang Theory actress is set to star in a new streaming service show called The Flight Attendant , according to Deadline . The show will be a thriller drama and will air on the new streaming platform from Big Bang 's parent network, Warner Bros. TV Group. This will be Cuoco's first live-action show since Big Bang, and will debut sometime in 2020. The show, which is based on the 2018 novel of the same name by Chris Bohjalian, will also be executive produced by Cuoco and Greg Berlanti ( Riverdale ). It's about a flight attendant who wakes up hungover next to a dead body in a hotel room, and doesnt know if shes the killer...very Girl on the Train esque, which means we're totally on board. In an official statement, Cuoco expressed her excitement over the deal with Warner Bros., calling the network her "home away from home." "I couldnt be more excited to continue this incredibly collaborative and gratifying relationship. Theyre stuck with me now!" Cuoco added. Cuoco and husband Karl Cook celebrated their one-year wedding anniversary yesterday, and it seems now they have even more reason to celebrate. Consider our DVRs ready (once we finish all the Big Bang episodes for a second time). RELATED: Whats Next for Kaley Cuoco Now That The Big Bang Theory Is Over?
2 Dirt-Cheap Apparel Stocks Companies that manufacture clothing aren't getting a lot of love from investors. The retail industry is in flux, with bankruptcies and store closings pressuring suppliers, and the possibility of additional tariffs has had investors spooked. With pessimism running high, now's the time to scoop up some bargains.Hanesbrands(NYSE: HBI)andKontoor Brands(NYSE: KTB)are two apparel stocks trading for beaten-down prices, and both offer compelling dividends. Here's why you should consider these two dirt-cheap apparel stocks. Image source: Getty Images. Hanesbrands' core business is innerwear, a market in which it holds the No. 1 or No. 2 position across multiple categories. In the U.S., the company is top dog in the men's underwear, kids' underwear, socks, and hosiery markets, and it's No. 2 in intimates and T-shirts. A similar story plays out in many of Hanesbrands' international markets. While innerwear is a slow-growth market, per-capita consumption is stable, and sales areheavily skewed toward branded merchandiseinstead of private labels. The century-old Hanes brand isn't trendy, but it certainly has staying power. Hanesbrands' other main business is activewear. The company'sChampion brand is growing quicklyoutside of mass market retailers, and it's on pace to hit $2 billion of annual revenue by 2022, even witha significant setbackrelated toTarget. Solid growth from activewear and international sales has driven seven consecutive quarters of constant-currency organic sales growth for Hanesbrands. In the first quarter of 2019, organic sales were up 10% year over year. Full-year growth will be slower, according to Hanesbrands' guidance, as the company is expecting retail store closings and currency to negatively affect sales, particularly in the U.S. innerwear business. But the company still expects solid growth from activewear and international markets. While Hanesbrands certainly shouldn't be valued like a growth company, the market has taken the stock a little too far in the other direction. With the company expecting non-GAAP (adjusted) earnings per share between $1.72 and $1.80 for 2019, shares of Hanesbrands trade for less than 10 times earnings. The stock also sports a dividend yield of roughly 3.5%. Given Hanesbrands dominant position in the innerwear business and its growth potential in activewear, that seems too cheap. While there are risks, including a tumultuous retail environment and tariffs, Hanesbrands should be on every value investor's radar. In May,V.F. Corp.completed the spinoff of its denim business. The new company, called Kontoor Brands, began trading on May 23. Most of Kontoor's revenue comes from its two denim brands, Wrangler and Lee. Both have been around for a long time -- Wrangler is more than 70 years old, and Lee is more than 100 years old. Neither brand is particularly trendy, but they remain popular after all these years. Wrangler is the No. 2 denim brand in the U.S. and the No. 1 denim brand in the mass channel, while Lee is a leading denim brand in China and India. Revenue for the businesses that are now part of Kontoor has been largely stagnant for the past decade, and a tough retail environment has been hurting sales in the past couple of years. Kontoor expects to generate at least $2.5 billion of revenue in 2019, and revenue is expected to grow at a low-single-digit pace over the following two years. Here's where it gets interesting. Analysts are expecting Kontoor to produce adjusted earnings of $3.46 per share this year. With the stock trading around $28 per share, down significantly since it was spun off, the price-to-earnings ratio is just 8. Earnings growth will likely be tepid, but asingle-digit earnings multiplegives investors a solid margin of safety. And Kontoor is an even better dividend stock than Hanesbrands. Kontoor hasn't declared its first quarterly dividend yet, but the company reiterated its plan to pay per-share dividends totaling $2.24 annually. That works out to a dividend yield of about 8%. If Kontoor can't muster the low-single-digit growth it's aiming for, the stock could turn into a value trap. But with solid brands that have stood the test of time, the company has a good shot at producing solid returns for investors. More From The Motley Fool • 10 Best Stocks to Buy Today • The $16,728 Social Security Bonus You Cannot Afford to Miss • 20 of the Top Stocks to Buy (Including the Two Every Investor Should Own) • What Is an ETF? • 5 Recession-Proof Stocks • How to Beat the Market Timothy Greenowns shares of Hanesbrands and Kontoor Brands Inc. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has adisclosure policy.
TD Ameritrade-Backed ErisX Gets Green Light to Settle Futures in Bitcoin The U.S. Commodity Futures Trading Commission (CFTC) has cleared the way for crypto derivatives provider ErisX to offer futures contracts with a new license approval Monday. ErisX, which is backed byU.S. brokerage TD Ameritrade,announcedthat the CFTC granted it a derivatives clearing organization (DCO) license, acting as a secondary approval on top of an existing designated contract market (DCM) license that the exchange already held. The approvals mean the company can now launch crypto futures products under the auspices of the U.S. regulator. While no firm timeline was provided, ErisX’s announcement said it would launch its futures contracts – which would be physically-settled, meaning customers receive real bitcoin and not the cash equivalent – “later this year.” Related:CFTC Approves LedgerX to Settle Futures in Real Bitcoin In a statement, ErisX CEO Thomas Chippas said that the company is “unique” because it “divided the trading and settlement functions using traditional DCM (exchange) and DCO (clearing) models.” He added: “This reflects the structure that institutional investors expect from other asset classes and will help drive these markets toward greater relevance and accessibility.” “Under the DCO order, Eris will be authorized to provide clearing services for fully-collateralized virtual currency futures. Eris’ indirect parent company, Eris Exchange, LLC, is registered with the CFTC as a designated contract market,” a CFTCpress release read. Related:CFTC Lawsuit Alleges $147 Million in Bitcoin Defrauded From Trading Scheme Investors ErisX’s approval comes a week after competitorLedgerX received its own DCM license. Like ErisX, LedgerX has yet to announce a firm timeline for the launch of its bitcoin futures contracts. Bakkt, the subsidiary of NYSE parent firm ICE, is also planning to launch its own physically-settled bitcoin futures, and is currently waiting on a trust company license from the New York Department of Financial Services. Seed CX, another crypto derivatives provider in the U.S., hopes to offer forwards contracts in the coming months as well. On top of its DCO approval, ErisX receivedno-action relieffrom the CFTC for certain aspects of its offering. Companies apply forno-action reliefwhen they believe their product can fit the spirit of the law, but not necessarily the letter. It is up to regulators to determine whether the applicants can fulfill that promise. When no-action letters are granted, the applicants must adhere strictly to the list of requirements laid out within. Specifically, the CFTC Division of Clearing and Risk granted ErisX relief from aspects ofPart 39 of the Code of Federal Regulations Title 17. The letter details how ErisX’s requirement that customers collateralize all transactions enable the CFTC to grant it relief from various provisions that seek to verify the clearinghouse can cover any losses. According to the letter, ErisX now has relief from regulations that would require it to: conduct stress testing on its financial resources; maintain liquidity to fulfill its obligations during a one-day settlement cycle; require periodic financial reports from all of its clearing members; conduct individual stress testing on large traders; produce daily reports on margin payments and end-of-day positions; and detail its margin methodology. Because ErisX does not allow for margin positions, the Division of Clearing and Risk has agreed to provide relief against these different sections of Part 39. ErisX will also certify its futures contract market participant rules prior to launch. In a statement, ErisX head of marketing Jessica Darmoni told CoinDesk that “Prior to onboarding FCMs, ErisX must first certify to the CFTC that its FCM rules comply with the CEA and commission rules and provide market participants and CFTC an opportunity to review the rules.” “We have already begun the work in this regard and look forward to working with the CFTC on these requirements,” she added. TD Ameritrade image via Shutterstock • Bakkt Reveals Bitcoin Futures Contract Details Ahead of July Test Date • US Senate Confirms New CFTC Chair to Succeed ‘Crypto Dad’ Giancarlo
Should You Borrow From an Online Mortgage Lender? Online technology is shaking up homebuying for the better, forever changing the wayshomes are listed, toured and financed. Buyers are embracing the innovations. Nearly three-quarters now apply online, and 83% sign documents electronically, according to a recentsurveyfrom the mortgage automation company Ellie Mae. And, many buyers are turning to online mortgage lenders in hopes of finding the most digital homebuying experience possible. Should you consider an online lender foryour next home loan? We break down the pros and cons to help you answer that question. Often the biggest plus is convenience. Online mortgage lenders use intelligently designed websites and apps to streamline the application process, so the loans take 20% less time to process than traditional mortgages, theFederal Reserve reports. To apply for an online mortgage, you answer just a few simple questions you can click through in minutes. If the lender asks for ID or documents, it’s often as easy as taking a picture with your smartphone and uploading it to a secure platform. You can easily compare loans side-by-side online. And, because online lenders don't have brick-and-mortar branches, their costs are lower — and they can pass those savings on to you in the form of lower fees and interest rates. The savings can be huge, adding up to thousands of dollars over the life of your loan. To get the best deal on an online mortgage, you'll want to check outrates in your areaavailable from at least three lenders. You may want to sit down with a traditional mortgage lender if you're looking for more hands-on support. This may be especially true forfirst-time homebuyerswho need a more thorough, step-by-step approach to help understand mortgage options. Online lenders will usually have a phone number or online chat tool you can contact for assistance. The companies typically have loan officers available, but their hours may be limited. Also, note that the nontraditional lenders usually work on a national — not a local — scale. A neighborhood bank might be more knowledgeable about localhomebuyer incentive programsthat can lower your interest rate or closing costs. A conventional bank also may be a better choice if you need special financing — maybe if you're self-employed, have a low credit score or are interested inan FHA loanor other low-down-payment mortgage. Online mortgages can make homebuying a whole lot more streamlined. They offer unparalleled convenience and speed compared to traditional lenders. However, a digital borrowing process isn't for everyone. Your mortgage is one of the biggest financial transactions you'll ever make, and you may have a ton of questions. Ultimately it's a matter of determining your comfort level. You may decide to go with an online lender, because you want your home purchase to be as easy asbuying a plane ticketor bag of dog food online. Or, you may realize that you need more of the kind of personal, face-to-face service that's possible with a more traditional lender.
U.S. Senators Propose 65-mph Truck Speed Limiters A proposal to limit the speed of heavy trucks to 65 mph proposed earlier this year by truck safety groups has been taken up by two U.S. Senators. "The Cullum Owings Large Truck Safe Operating Speed Act of 2019," introduced on June 27 by Johnny Isakson (R-Georgia) and Chris Coons (D-Delaware), would require new commercial trucks weighing over 26,000 pounds to be equipped with speed limiters set at a maximum speed of 65 miles per hour. Existing trucks that already have the technology installed would be required to set the 65-mph limit as well, while those without speed limiters would not be required to install the technology retroactively. "The majority of trucks on our roads already have speed-limiting technology built in, and the rest of the technologically advanced world has already put them to use to ensure drivers follow safe speeds," Isakson said. "This legislation would officially enforce a long-awaited speed limit of 65 mph on large trucks and reduce the number of preventable fatalities on our busy roadways." The legislation comes five months after a coalition led by Road Safe America and the Truck Safety Coalitionbegan lobbying Congress on the issueafter previous attempts at changing the law stalled. "Once we learned that this technology, which could have saved our son, was available and in use by many leading U.S. companies, we founded Road Safe America to educate the public and change things like this," said Road Safe America president and co-founder Steve Owings. "This critical safety measure, which has languished for more than 10 years, will put an end to the practice of protecting companies that rely on speeding to remain competitive," said Harry Adler, executive director of the Truck Safety Coalition. While it didn't participate directly in the lobbying effort as part of the Truck Safety Coalition, the Trucking Alliance, whose members include major truckload carriers such asJ.B. Hunt(NASDAQ: JBHT),U.S. Xpress(NYSE:USX) andKnight-Swift Transportation(NYSE:KNX), is a proponent of speed limiters and supports the legislation. "We're confident Congress will pass this bill and help reduce large truck crashes in which more than 140,000 people were killed or injured last year," said Trucking Alliance managing director Lane Kidd. The American Trucking Associations (ATA), has supported speed limiters for both cars and trucks, said it was reviewing the details of the bill. "Our policies support speed limiters but were adopted in the context of more uniform national speed limits for all vehicles," an ATA spokesman told FreightWaves. "As the national trend on speed limits moves in the opposite direction with increasing variance, federal speed limiter efforts must at a minimum account for speed differentials and any potential safety risks that they can create." The Owner-Operator Independent Drivers Association told FreightWaves it opposes the speed limiter mandate, claiming speed limiters will not reduce crashes because most truck-related crashes occur on roads with posted speeds less than 65 mph. "To improve highway safety, we support minimum training standards that include behind the wheel time and flexibility in hours of service regulations." Supporters of the bill point out that a speed limiter mandate has been delayed by the federal government more than 20 times since it was first proposed in 2011. A comment period on a proposed rule from the Federal Motor Carrier Safety Administration – which as written would only apply to new trucks – ended in November 2016, but no final action has been taken. A speed limiter mandate was recently added to the most recent effort toraise the national standard for twin trailers from 28 to 33 feetas a safety incentive to gain support from lawmakers and safety advocates for increasing truck-hauling capacity. The latest "twin 33" proposal, led by the Americans for Modern Transportation Coalition, would require that twin 33s be equipped with speed limiters set at 68 mph, along with on-board video event recorders, electronic stability control and automatic emergency braking. Image Sourced by Pixabay See more from Benzinga • San Antonio Long-Haul Volumes Explode Prior To Fourth Of July Weekend • FreightWaves Acquires American Shipper • FreightWaves NOW: China-U.S. Ocean Container Rates Up, 2017 Spot Market Returns © 2019 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Judge allows testimony on Duncan Hunters alleged affairs SAN DIEGO Jurors can hear evidence of U.S. Rep. Duncan Hunters alleged extramarital affairs when they consider charges the California Republican looted campaign cash to finance vacations, golf outings and other personal expenses, a judge said Monday. Prosecutors revealed salacious details about the married congressmans lifestyle in court filings last week, saying he used campaign money to illegally finance a string of romantic relationships with lobbyists and congressional aides. U.S. District Judge Thomas Whelan said the allegations were relevant to whether campaign money was spent illegally and spoke to motive and intent. Hunters attorney, Gregory Vega, argued that any mention of extramarital affairs and personal indiscretions would be extremely prejudicial at a trial set for September. Im afraid that it will be the focus, instead of the evidence, Vega said. The judge acknowledged that the allegations were sensitive and said prosecutors and Hunters team could decide how to describe the relationships. Whelan, ruling on a flurry of procedural motions, didnt address Hunters bid to dismiss charges or move the trial out of San Diego. He said Hunter could keep speaking publicly about the case. The Republican congressman, an early supporter of President Donald Trump, sat quietly next to his attorney during the hearing. Outside, about two dozen protesters surrounded and shouted at him on his short walk to a car with a waiting driver. His father, former U.S. Rep. Duncan Hunter Sr., told reporters that the charges were politically motivated. Attorneys for the congressman have argued that prosecutors tied to the case were at a Hillary Clinton fundraiser in August 2015 and tried to get a photo with the Democrat, compromising their impartiality. The elder Hunter, who sat in the front row of the courtroom, gave reporters copies of an email from the U.S. Secret Service on how to get a photo taken with Clinton at the fundraiser. The email, part of a June 24 court filing, redacted the recipients names but was a response to a Freedom of Information Act request for communications with two prosecutors involved in the case. Story continues This is the smoking gun, Hunter Sr. told reporters. The government says the prosecutors attended the fundraiser in an official capacity to assist law enforcement. Hunter and his wife were indicted in August on charges that they used more than $250,000 in campaign funds for personal expenses ranging from groceries to golf trips and family vacations, then lied about it in federal filings. Margaret Hunter, who was not in court Monday, pleaded guilty last month to one corruption count and agreed to testify against her husband. In an interview with Fox News last year, Hunter said his campaign made mistakes, that he gave his wife power of attorney when he deployed as a Marine to Iraq in 2003 and that she handled his finances during his last five terms in office. Hunter, 42, was re-elected in his strongly Republican congressional district in San Diego County last year despite the indictment. The Hunter name represents something of a political dynasty in the area his father captured the seat in 1980 and held it until his son was elected in 2008.
What Kind Of Shareholder Appears On The Shaver Shop Group Limited's (ASX:SSG) Shareholder Register? Want to participate in ashort research study? Help shape the future of investing tools and you could win a $250 gift card! The big shareholder groups in Shaver Shop Group Limited (ASX:SSG) have power over the company. Generally speaking, as a company grows, institutions will increase their ownership. Conversely, insiders often decrease their ownership over time. Warren Buffett said that he likes 'a business with enduring competitive advantages that is run by able and owner-oriented people'. So it's nice to see some insider ownership, because it may suggest that management is owner-oriented. Shaver Shop Group is not a large company by global standards. It has a market capitalization of AU$53m, which means it wouldn't have the attention of many institutional investors. Our analysis of the ownership of the company, below, shows that institutions are noticeable on the share registry. Let's delve deeper into each type of owner, to discover more about SSG. View our latest analysis for Shaver Shop Group 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. Shaver Shop Group already has institutions on the share registry. Indeed, they own 25% 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. 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 Shaver Shop Group'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 Shaver Shop Group. There is a little analyst coverage of the stock, but not much. So there is room for it to gain more coverage. The definition of an insider can differ slightly between different countries, but members of the board of directors always count. 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 information suggests that insiders maintain a significant holding in Shaver Shop Group Limited. Insiders have a AU$9.5m stake in this AU$53m business. This may suggest that the founders still own a lot of shares. You canclick here to see if they have been buying or selling. With a 42% ownership, the general public have some degree of sway over SSG. 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. It seems that Private Companies own 15%, of the SSG stock. It's hard to draw any conclusions from this fact alone, so its worth looking into who owns those private companies. Sometimes insiders or other related parties have an interest in shares in a public company through a separate private company. 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. 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.
Duchene signs with Predators on $56 million deal Center Matt Duchene, one of the top free agents on the market, signed a seven-year, $56 million contract with the Nashville Predators on Monday. Duchene, 28, matched his career best of 70 points (career-high 31 goals, 39 assists) in 73 games last season with the Columbus Blue Jackets and Ottawa Senators, who traded him in February. He had 10 points in 10 playoff games, helping Columbus to an unlikely sweep of the Presidents' Trophy-winning Tampa Bay Lightning in the first round. "Our objective this offseason was to bolster our offense, and signing Matt Duchene gives us another dynamic goal-scoring, playmaking center," Predators general manager David Poile said in a statement. "We are excited to add his skill and experience to our top-six forwards and look forward to the next seven years of Matt and his family in Smashville. Matt's love of country music and passion for the city of Nashville make this partnership a perfect fit." Duchene, the third pick in the 2009 NHL Draft, spent eight-plus seasons with the Colorado Avalanche before being traded to the Senators on Nov. 5, 2017. The two-time All-Star has 547 points (232 goals, 315 assists) in 727 games. The Predators helped make room for Duchene by trading six-time All-Star defenseman P.K. Subban to the New Jersey Devils on June 22. Subban had three years remaining on an eight-year, $72 million contract, and the deal freed up $9 million in cap space for the Predators for 2019-20, according to Sportsnet. --Field Level Media View comments
REFILE-UPDATE 1-Qatar Investment Authority, Douglass Emmett acquire $365 mln California real estate complex (Adds dropped word "million" in first paragraph) DOHA, July 1 (Reuters) - Qatar Investment Authority (QIA) and real estate investment trust Douglas Emmett Inc have acquired a $365 million real estate development in California, the Qatari sovereign wealth fund said on Monday. The deal is for the acquisition of The Glendon, a residential community in Westwood, California with 350 apartments and approximately 50,000 square feet of retail, the statement said. Qatar, whose wealth comes from the world's largest exports of liquefied natural gas, manages about $300 billion in assets via its sovereign wealth fund. QIA has said it is looking to rebalance its portfolio away from Europe in order to invest more heavily in the United States, with a target of reaching about $45 billion in U.S. assets over the next two years from about $30 billion currently. "This underlines QIA's ambition to substantially increase our US investments, and our confidence in the long-term possibilities offered by Los Angeles, and the State of California," QIA Chief Executive Officer Mansoor Al-Mahmoud said. QIA and Douglas Emmett have to date acquired nine office buildings in Los Angeles, but the latest deal marks the first residential real estate investment for the partnership, the statement said. (Reporting by Eric Knecht; editing by Grant McCool)
13 Reasons U.S. Real Estate Market Is Stronger Than You Think This post originally appeared on The Basis Point:13 Reasons U.S. Real Estate Market Is Stronger Than You Think Every month, data masters Black Knight analyze the most important numbers in housing finance. The work of our friends there is essential reading for home buyers, sellers, renters who wish they weren’t renters, loan officers, realtors, and anyone else interested in real estate. Here are key mortgage and housing highlights you need to know from Black Knight’s just-released May 2019 data. +++ – Mortgage delinquencies (loans 30 or more days past due, but not in foreclosure) down 3% in May – Delinquencies at lowest level since January 2000 – 39k foreclosure starts—lowest number in 18 years – Number of loans in active foreclosure lowest in 13 years – However, 9 states saw increases in delinquencies, such as Mississippi and Nebraska – Expensive real estate markets of San Francisco, San Jose, and Seattle have lowest delinquency rates – However, early-stage delinquencies (6 months after loan closes) are rising +++ – At the end of June, 8.2m homeowners were eligible for refinancing – Largest # of refi candidates since late 2016 – 6.3m more refi candidates than when interest rates peaked in November 2018 – 35% of borrowers who took out mortgage in 2018 could save 0.75% off first lien rate +++ – Nearly 44m homeowners have more than 20% equity in their home – $5.982 trillion in tappable equity – (Tappable means your total outstanding home loans don’t exceed 80% of your home’s value) – $54b in equity tapped in Q1 2019, the lowest share of total equity since 2008 – More reading on the state of home equityhere +++ – Most Important: Don’t forget all real estate decisions you make are neighborhood and street level. You’ll get this granular data from your local real estate and mortgage advisors. – That said, the national and regional picture from Black Knight shows a robust housing market. Low foreclosures and delinquencies mean the housing market is way less risky than it was in the 2000s, strong loan approval standards means a 2006-style housing crash is highly unlikely, and a home is a good long-term investment right now. – High numbers of refi candidates mean housing can get more affordable for many millions of people, who are going to put that money back into the economy by spending. – Record home equity means more of you homeowners have access to home equity financing products,which are way cheaper than credit cards. – Basically real estate is in a good spot, especially when you look atforward-looking economic indicators. – If you’re planning out your financial life right now, knowing this macro background helps you know what trends are going in your favor. – Now that you know the high-level stuff is going well, get back to theneighborhood-level stuff, which is where you really make all your decisions. Big Bank Goldman Sachs Is Spending Big Bucks On Main Street Quicken Loans crushed it and made $32 billion in mortgages last quarter The middle class is worried about its American Dream
Black woman says white passenger refused to sit next to her on flight: 'I'm so embarrassed and heartbroken' A black woman is calling out Spirit Airlines after being forced to find a new seat when she says a white woman refused to sit next to her because of her race. (Photo by Jim WATSON / AFP) A Spirit Airlines passenger is outraged after being forced to find a new seat when a white woman refused to sit next to her — an objection she claims was made because she is black. “I had to ask someone to switch seats with me because she didn’t want to sit by a black woman in 2019!” Tiarra wrote in a series of Facebook posts detailing her experience. Tiarra unexpectedly boarded a flight from Vegas to Chicago with Spirit Airlines after her flight from Detroit was delayed for 12 hours. When she tried to sit down, Tiarra claims an unidentified woman sitting next to the open seat assigned to her “refused to let me sit by her.” “[She] refuses it to the point that she is arguing with the flight attendant about how she is not going to let me sit by her,” Tiarra wrote in a Facebook post . “This 4 hour flight is about to feel like a lifetime. I’m am so embarrassed and heartbroken.” According to Tiarra’s account, she was forced to ask other passengers to switch seats with her instead. The woman allegedly later claimed she took issue with Tiarra sitting next to her because “she thought the seat was going to be empty.” However, she points out that the woman “allowed the young white college student to sit next to her with no issue.” Although flight attendants thanked her later for being a “team player,” Tiarra was outraged that she was the one who was forced to move, instead of the passenger she claims was being racist. “I shouldn’t have needed to switch seats to accommodate her choice of what race she wanted next to her and her husband,” she wrote. She went on to criticize Spirit Airlines for not escorting the woman off the plane after blocking her seat, and allowing the unidentified woman’s comfort to take precedence over her own. “Why do I have to be a team player to someone who is obviously putting her racist cards on the table,” Tiarra wrote on Facebook . According to a statement obtained by Yahoo Lifestyle, Spirit Airlines says it has “zero tolerance for discrimination of any kind on our flights,” and has taken action to remedy the incident. Story continues “[Spirit Airlines has] launched an investigation into this incident and we have reached out directly to the Guest to address her concerns,” reads a statement from Spirit Airlines media relation manager, Derek Dombrowski. “Spirit Airlines has zero tolerance for discrimination of any kind on our flights and we pride ourselves on providing an inclusive and safe environment for our Guests.” Although Tiarra sarcastically thanked Spirit Airlines for “the worst experience ever,” she said the one upside of the experience were the passengers who rallied around her. While one fellow passenger held her hand and prayed with her, other passengers were “booing her and calling her a racist.” Tiarra detailed her experience with a series of posts on her personal Facebook on June 25. Since then, one of the posts has garnered over 8,300 shares with users online calling the incident “unacceptable,” and suggesting she file a formal complaint. Others online, however, allegedly told Tiarra she should have taken more serious, violent retaliation to the unidentified woman. However, Tiarra wrote that she was glad she took the moral high ground instead. “At the end of the day, I was able to come home to my kid to share my experience with you all,” Tiarra explained on Facebook. “This was my experience I handled it the best way that I could.” Tiarra did not immediately respond to Yahoo Lifestyle’s request for comment. Read more from Yahoo Lifestyle: • Airline staff accused of doing 'nothing' after woman called homophobic slurs, 'miserable b***h' by male passengers • Passenger claims United Airlines flight was infested with ants • 'Frontier Airlines is DEAD WRONG FOR THIS!': Mom arrested after dispute over vomit on daughter's plane seat Follow us on Instagram , Facebook , and Twitter for nonstop inspiration delivered fresh to your feed, every day.
This Three-Story Prefab Cabin Could Be Shipped to Your Property Just in Time for Fall Photo credit: @everywhere_co - Instagram From House Beautiful Looking for a summer project to keep you busy? Well, Everywhere Travel Co ., is about to offer DIY kits that will allow you to build your own cabin , from start to finish-down to the furnishings (if you choose that add-on). This 1,574-square-foot, A-frame cabin is cheekily called the Ayfraym, and it can house up to eight people. Not to mention the upper loft that has look-out windows, providing you with an unbeatable view. The cabin has a total of three floors, two bedrooms, a bunkroom and two bathrooms-this is totally starting to sound like the perfect year-round vacation home. You have the option of getting the cabin in either white or black, as well as several upgrades you can make to it, like adding on a solar panel kit or a complete interior finish kit . The latter includes wood flooring, cabinets, light fixtures, outlets, Nest smoke detectors-wood trim and cement for making the countertops and showers. There are two all-in-one kits, which include all of the interior finish details, with one using stick framing and one with a timber frame. These aren't quite as simple as the viral Amazon guesthouse or other prefab sheds and studios you'd find online, and the price matches: Expect to spend $112,000 to $122,000, if you want one of the all-in-one kits. It's pricey, but you are buying an entire house, down to the appliances. Photo credit: Hearst Owned If you love the look of this cabin but lack the skills to pull this DIY job off, that's fine-as long as you live in one of these states: AZ, CA, CO, MA, ME, MT, NH, NM, NV, NY, OR, UT, VT, WA & WY. Everywhere Travel Co., is more than willing to build the home for you. Currently, there are 23 cabins in progress. You can preorder all of the DIY kits now, and they will begin being shipped in August. Follow House Beautiful on Instagram . ('You Might Also Like',) 7 Secrets HomeGoods Employees Won't Tell You 19 Closet Organization Ideas You'll Want to Steal Immediately 15 Styling Tricks That Make A Small Living Room Seem Bigger Than It Is
OPEC extends oil production cuts amid weaker demand outlook VIENNA (AP) — OPEC is extending its deal to cut production for another nine months in bid to keep oil prices from sagging as the oil cartel faces a weakening outlook for global demand. The decision among the members of the Organization of the Petroleum Exporting Countries came during a meeting Monday at the cartel's headquarters in Vienna. Saudi Arabia's Energy Minister Khalid Al-Falih said "the commitment to a nine-month extension is unequivocal, very solid, very strong" among OPEC members. He said he expected non-member producing countries such as Russia to join in extending the cuts at a separate meeting on Tuesday. Russian President Vladimir Putin has already said he backs an extension. The current deal to support prices reduced production by 1.2 million barrels per day starting from Jan. 1 for six months, and will now run into next year. Most of the cuts came from OPEC nations, who agreed to reduce 800,000 barrels per day, with the rest of the cuts coming from Russia and other non-OPEC countries, though not from the United States. The cuts were aimed to put upward pressure on the price of oil and reduce oversupply. "This more than compensates for whatever demand concerns that investors have been experiencing in recent months," said Pavel Molchanov, energy analyst at Raymond James. He noted that global demand could fall by 200,000 to 300,000 barrels per day but the OPEC cuts will reduce supply by about 1 million barrels per day. Oil prices will likely increase over the next few months, but there are also many other variables besides OPEC that could impact the price, Molchanov said. Though tensions between the U.S. and Iran and attacks on tankers near the Strait of Hormuz have pushed up oil prices in recent days, there are concerns among members that over the longer term demand could weaken due to slower global growth. The International Energy Agency, a group of oil consuming countries, cut its demand estimate earlier this month. The price of Brent crude, the international standard, rose 32 cents Monday to $64.06 a barrel. Geopolitical turmoil and production problems in various markets have led to concern that oil supply would be tight, conditions which tend to push the price of oil higher. Tensions have been rising in the Middle East as the U.S imposed new sanctions on Iran, and oil tankers have been attacked near the Strait of Hormuz, a narrow passage through which a fifth of all oil traded around the world passes. And production out of Venezuela, once one of the world's largest producers, has collapsed. Experts say a military conflict between the U.S. and Iran would further constrain oil supply and send oil prices higher. Yet the outlook for demand and prices has been weakening, not least because of the slowdown in the global economy partly as a result of trade tensions between the U.S. and China. That raises the prospect of lower oil demand and consequently lower prices. The prospect of increased U.S. production of oil from shale deposits also hangs over the market. That could add to supply and weigh on prices, too. ___ McHugh contributed from Frankfurt. Associated Press Writer Anthony Mills in Vienna and Associated Press Business Writer Cathy Bussewitz in New York contributed to this report.
Is Reckon Limited's (ASX:RKN) CEO Overpaid Relative To Its Peers? Want to participate in ashort research study? Help shape the future of investing tools and you could win a $250 gift card! The CEO of Reckon Limited (ASX:RKN) is Sam Allert. First, this article will compare CEO compensation with compensation at similar sized companies. Then we'll look at a snap shot of the business growth. Third, we'll reflect on the total return to shareholders over three years, as a second measure of business performance. The aim of all this is to consider the appropriateness of CEO pay levels. Check out our latest analysis for Reckon Our data indicates that Reckon Limited is worth AU$63m, and total annual CEO compensation is AU$723k. (This figure is for the year to December 2018). Notably, that's an increase of 8.8% over the year before. While this analysis focuses on total compensation, it's worth noting the salary is lower, valued at AU$504k. We looked at a group of companies with market capitalizations under AU$285m, and the median CEO total compensation was AU$357k. It would therefore appear that Reckon Limited pays Sam Allert more than the median CEO remuneration at companies of a similar size, in the same market. However, this fact alone doesn't mean the remuneration is too high. We can get a better idea of how generous the pay is by looking at the performance of the underlying business. You can see, below, how CEO compensation at Reckon has changed over time. On average over the last three years, Reckon Limited has shrunk earnings per share by 39% each year (measured with a line of best fit). In the last year, its revenue is down -6.1%. Sadly for shareholders, earnings per share are actually down, over three years. This is compounded by the fact revenue is actually down on last year. These factors suggest that the business performance wouldn't really justify a high pay packet for the CEO. It could be important to checkthis free visual depiction ofwhat analysts expectfor the future. Given the total loss of 50% over three years, many shareholders in Reckon Limited are probably rather dissatisfied, to say the least. This suggests it would be unwise for the company to pay the CEO too generously. We compared total CEO remuneration at Reckon Limited with the amount paid at companies with a similar market capitalization. As discussed above, we discovered that the company pays more than the median of that group. We think many shareholders would be underwhelmed with the business growth over the last three years. Over the same period, investors would have come away with nothing in the way of share price gains. And we'd be remiss not to note that the CEO remuneration has increased on last year. In our opinion the CEO might be paid too generously! Shareholders may want tocheck for free if Reckon insiders are buying or selling shares. If you want to buy a stock that is better than Reckon, thisfreelist of high return, low debt companies is a great place to look. 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.
Illinois tax hikes could kill small businesses, expert warns As of Monday,Illinoisdrivers face a much higher fueltax, which could spell bad news not only for drivers – but also for small businesses in the area. The state doubled its gas tax to 38 cents per gallon, up from 19 cents per gallon – which had been the rate since 1990. Monday’s fuel tax increase brings the tax burden on residents up to one of the highest in the nation – behind the likes of California. The tax increase is expected to cost the average driver an additional $100 over the next 12 months, according to the Illinois Policy Institute. “This hike will not be appreciated by Illinois drivers,” Chris Edwards, director of tax policy studies at the Cato Institute and editor ofwww.DownsizingGovernment.org, told FOX Business. “Illinois drivers already pay 55 cents a gallon in federal and state gas taxes.” Illinois is one of several high-tax states experiencing an outflow of residents after state and local tax deductions were capped at $10,000. Illinois’ population declined for the fifth row in a year in 2018, according to the U.S. Census Bureau. More than 114,150 people moved out of the state. But the new gas tax – in addition to tax hikes on other items like cigarettes – could spell trouble for some of the state’s small businesses, which are already fighting for their lives. Bill Fleischli, executive vice president of the Illinois Petroleum Marketers Association/Illinois Association of Convenience Stores, said in a statement to FOX Business that the taxes “have put the Independent Illinois Petroleum Marketer on the endangered species list.” “Our customers will cross borders, and when they do, they not only purchase fuel, but other ancillary items, costing state tax dollars and company profits,” Fleischli said in a statement. “There will be a 6 percent to 10 percent loss of motor fuel volume over 2 to 3 years, and a 7 percent to 10 percent loss of inside sales in the same timeframe.” During a recent radiointerview, Fleischli said the state has lost 400 gas stations in the last three to four years and about 9,000 employees. “That’s a big number … that’s small business going away in Illinois,” he said. Most of the now-defunct stores were located in higher-tax areas. “Volumes are down because taxes are high … if [drivers] are not getting the right price, they’re going to go elsewhere,” Fleischli said. The gas tax is just one of a few increases that went into effect on Monday. The cigarette tax increased by $1. The state will also ban residents under the age of 21 from purchasing tobacco products. A 5-cent statewide plastic bag tax also took effect. CLICK HERE TO GET THE FOX BUSINESS APP The increases come as high-tax states are contending with a reduction in tax revenues as individuals move to states – like Florida and Texas – where the tax burdens are much lower. As previously reported byFOX Business,a real estate agency in Miami launched a campaign specifically targeting businesses in Illinois as tax burdens mount. Related Articles • Consequences Of The Millennial/Debt Relationship • Tech Wreck - 100+K Jobs Gone and More Cuts Coming • The National Debt is Costing You Big Time
NBA free agency: Jimmy Butler to join Miami Heat After a whirlwind tour of the NBA that included playing for three teams in three seasons, Jimmy Butler is reportedly heading to Miami. Miami is finalizing a sign-and-trade with Philadelphia to acquire Jimmy Butler, league sources tell ESPN. — Adrian Wojnarowski (@wojespn) July 1, 2019 Josh Richardson will reportedly join the 76ers as part of a multi-team sign-and-trade deal that will give the Heat an All-Star caliber player the roster has lacked for several seasons. Deal reportedly completed Monday ESPN reported that terms of the deal were completed Monday after reported problems in the trade over who was going where emerged Sunday between the Heat and the Dallas Mavericks. [Free agency updates: Keep track of the moves, rumors, cap space and more ] The deal now includes four teams, with the Portland Trail Blazers and Los Angeles Clippers involved. The Trail Blazers are sending 25-year-old forward Maurice Harkless and his $11 million contract to the Clippers, who will also receive a first-round pick from the Heat in the deal. The Heat also sent Hassan Whiteside and the remaining year of his max contract ($27 million) to Portland and will receive Meyers Leonard in return. Sunday Snag Marc Stein of the New York Times initially reported Sunday that the Heat would send Kelly Olynyk and Derrick Jones to the Dallas Mavericks as part of the deal in order to clear salary cap space, but later reported that that part of the deal hit a snag. The Mavericks maintain they agreed to join the Jimmy Butler sign-and-trade under the belief they were getting Kelly Olynyk and Derrick Jones Jr., league sources say. The Heat reportedly do not want to surrender Jones and say they must trade Goran Dragic to make the cap math work — Marc Stein (@TheSteinLine) July 1, 2019 Stein also reported that Goran Dragic was not joining the Mavericks , conflicting an earlier Florida Sun-Sentinel report that the Heat sent the guard to Dallas to clear up cap space. Story continues The Mavericks are removed entirely from the deal completed Monday. 76ers moves After agreeing to the Butler deal, the 76ers reportedly agreed to sign former Boston Celtics forward Al Horford to a four-year, $109 million deal. They also reportedly agreed on Sunday to a five-year, $180 million deal to retain Tobias Harris . In addition to losing Butler, the 76ers also reportedly watched starting shooting guard JJ Redick join the New Orleans Pelicans in free agency. Jimmy Butler is reportedly headed to the Miami Heat. (Reuters) Butler’s brief stint in Philadelphia over Butler spent most of last season playing for Philadelphia, helping lead the 76ers to the second round of the playoffs where they lost in Game 7 to the eventual champion Toronto Raptors. Butler forced a trade early in the season from the Minnesota Timberwolves, punctuated by his infamous practice tirade in which he taunted teammates Karl-Anthony Towns and Andrew Wiggins, reportedly yelling “They ain’t [expletive]!” and “They soft!” General manager Scott Layden and then coach/president of basketball operations Tom Thibodeau were also reportedly on the wrong end of the rant that came on the heels of three weeks of failed trade talks after he asked to be shipped out of town. It would be another month before Philadelphia would reach a deal with Minnesota to bring Butler to the 76ers as part of their all-in effort to compete for a championship. 76ers came up short after in-season moves They fell short of their goal with a core highlighted by Butler, Joel Embiid, Ben Simmons and Harris, who was acquired via midseason trade. But despite adding Butler and Harris after the season started, the team gelled to the point of earning the No. 3 seed in the Eastern Conference. And the Butler who was so disgruntled in Minnesota was nowhere to be found — at least publicly — in Philadelphia. Splitting his time in two conferences and sharing the ball with a star-loaded roster, Butler failed to make the All-Star team last season while averaging 18.7 points, 5.3 rebounds, four assists and 1.9 steals per game and playing at his normal high level on defense. Prior to last season, Butler had made four consecutive All-Star teams while playing with the Timberwolves and Chicago Bulls. The 29-year-old is also a four-time NBA All-Defensive Team member. 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
Can Gold Mining ETFs Keep Soaring? • (1:00) - Can The Gold Rally Continue? • (4:35) - What Can We Expect From M&A Activity In The Gold Sector? • (6:20) - Gold Sector Stocks To Watch • (9:45) - How Should Investors Navigate Investing In Gold? • (13:45) - Bitcoin vs. Gold • (17:00) - Episode Roundup: Podcast@Zacks.com In this episode of ETF Spotlight, I speak with Joe Foster, portfolio manager and strategist for gold at VanEck. VanEck is a leader in gold investing. They introduced the first gold equity mutual fund--the VanEck International Investors Gold Fund INIVX--back in 1968, which Joe has been managing since 1998. They also offer the VanEck Vectors Gold Miners ETF GDX and the VanEck Vectors Junior Gold Miners ETF GDXJ, which are the biggest funds in the space, and the VanEck Merk Gold Trust OUNZ, which provides investors the option to take physical delivery of gold. Gold prices surged in June, thanks mainly to investors’ search for safer assets amid rising market uncertainty and geopolitical tensions. What lies ahead for the precious metal? Gold miners have significantly outperformed the metal over the past month as they are high-beta plays on the price of gold. GDX and GDXJ soared about 23% in June since higher gold prices are a major tailwind for producers. The industry saw a spate of M&A activity with Newmont Mining NEM acquiring Goldcorp in January to create the world’s largest gold miner, and Barrick Gold GOLD buying Randgold last fall. Should we expect further consolidation in the sector? We also discuss some of Joe’s favorite gold mining stocks. In addition to Newmont and Barrick, he likes Agnico Eagle Mines AEM, Kirkland Lake Gold KL and B2Gold BTG. Find out more about them on the podcast. What else do investors need to know about investing in gold miners? We also discuss the role of gold in a diversified portfolio given its low correlation with other asset classes. Some cryptocurrency backers have dubbed bitcoin as digital gold for the digital age. Is bitcoin gold 2.0? To learn more about these funds, please visit VanEck.com. Make sure to be on the lookout for the next edition of ETF Spotlight! If you have any comments or questions, please email podcast@zacks.com. Want key ETF info delivered straight to your inbox? Zacks’ free Fund Newsletter will brief you on top news and analysis, as well as top-performing ETFs, each week. Get it free >> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.Click to get this free reportVanEck Merk Gold Trust (OUNZ): ETF Research ReportsVanEck Vectors Junior Gold Miners ETF (GDXJ): ETF Research ReportsVanEck Vectors Gold Miners ETF (GDX): ETF Research ReportsNewmont Mining Corporation (NEM) : Free Stock Analysis ReportBarrick Gold Corporation (GOLD) : Free Stock Analysis ReportAgnico Eagle Mines Limited (AEM) : Free Stock Analysis ReportB2Gold Corp (BTG) : Free Stock Analysis ReportKirkland Lake Gold Ltd. (KL) : Free Stock Analysis ReportGet Your Free (INIVX): Fund Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research
Oregon governor ready to take lead on divisive climate plan SALEM, Ore. (AP) — Oregon Gov. Kate Brown said Monday that she's ready to use her executive power to lower carbon emissions following a nine-day Republican walkout that derailed landmark climate legislation and embroiled the state in a political crisis pitting liberal cities against rural residents. The Democratic governor said she wants to move forward through the executive branch if lawmakers can't approve meaningful climate legislation. She directed her staff to go back to rural communities and industries over the next few months to find points of compromise on what would be the nation's second statewide cap and trade program. Brown will present lawmakers with proposed "modifications" to the plan but is prepared to take the matter into her own hands if she still can't find a path forward in the Statehouse. "Working on legislation is my preferred approach," she told reporters. "However, given the uncertainty that now permeates Oregon's political system, I am also directing my staff and agencies to explore alternative paths." Two representatives for the Senate's Republican caucus didn't immediately respond to emails seeking comment on the governor's plans. The proposal caps climate-changing emissions and requires businesses to buy or trade an ever-dwindling pool of pollution credits or "allowances." California has a similar program. The idea divided the Statehouse and revealed lingering tensions between liberal cities like Portland that want to combat climate change and rural areas of the state where the legislation was seen as a further threat to industries like farming, logging and trucking. Senate Republicans walked out to block a vote on the measure and only came back after getting reassurances it was dead. They said the legislation would kill jobs, raise the cost of fuel and gut small businesses in rural areas. Loggers, truckers and others flooded the Capitol to support the Republicans who walked out. Democrats say the legislation is critical to make Oregon a leader in the fight against climate change and will ultimately create jobs and transform the economy. They said the program would raise tens of millions of dollars that would go toward further emissions-cutting projects and wildfire prevention efforts. Much of the funding also would flow directly to rural communities and Native American tribes to prepare for the worst effects of climate change, supporters say. "This is a priority," said Tera Hurst, executive director of Renew Oregon, the lobbying group behind the original legislation. "It is our moral imperative we do not delay another year. Climate change is an emergency." Brown has a tough path forward if she wants to craft legislation that both responds to industry concerns and still puts Oregon on a path toward meeting its ambitious goals of reducing greenhouse gas emissions. The original cap and trade proposal would have begun in 2021 and put the state on track to lower emissions to 45 percent below 1990 levels by 2035 and 80 percent below by 2050. Delaying the program could mean lawmakers will need to craft a more ambitious and aggressive program to meet the state's emission goals. Brown said it would have been better for industries and other opponents to come to the table rather than "blow the whole thing up." She said delaying the process further is like "cutting off your nose to spite your face." "This program will have to be more aggressive," the governor said. "Because the time pressures are still there and I'm committed to keeping those goals for our children and our children's future." ___ Follow Sarah Zimmerman on Twitter at@sarahzimm95
Sysco Gains on Strength in Foodservice Unit & Growth Plans Sysco CorporationSYY has been able to maintain strong footing in the food space, courtesy of prudent financial plans and acquisitions. Also, the company’s U.S. Foodservice unit is yielding well. Backed by such positives, the stock has gained 6.6% in the past three months compared with the industry’s rise of 1.6%. Let’s take a closer look at these upsides that have made this Zacks Rank #2 (Buy) stock an attractive pick.U.S. Foodservice Unit Aids GrowthSysco’s U.S. Foodservice unit is performing well for quite some time. Sales in the division advanced 4.1% year on year to $10,015.3 million during the third quarter of fiscal 2019. During the quarter, local case volumes in U.S. Broadline operations rose 3.1% and total case volumes ascended 2.1%. Notably, local case volumes in the segment have been rising year over year for 20 consecutive quarters now. Markedly, favorable restaurant sales have been acting in favor of the U.S. Foodservice segment.Strong Financial Plans & Efforts to Boost PortfolioSysco frequently engages in business acquisitions to expand distribution network and customer base. It acquired sister firms — J & M Wholesale Meats and Imperio Foods — in April. Prior to this, the company announced a deal to acquire Waugh Foods, a distributor in Central Illinois. Other noteworthy buyouts of the company include HFM in Hawaii, Doerle Food Service in Louisiana and Kent Frozen Foods in the U.K. Also, the company inked a small deal in Sweden and bought the remaining 50% stake in Mayca Distribuidores of Costa Rica. Additionally, the company is on track with cost-saving initiatives. In this context, the company’s Finance Transformation Roadmap concentrates on modernizing international financial platform. Further, it is focused on centralizing actions, mechanizing work and dealing with offshore partners. Also, Sysco is focusing on Smart Spending initiatives, which involve a detailed analysis of indirect spending categories and curtailing costs.Among other growth-oriented moves, Sysco is progressing well with efforts to enhance consumers’ experience, stimulate power of its people and achieve operational efficacy. In this regard, the company is focused on augmenting assortments, making constant innovations, ensuring food safety and revitalizing brands. Notably, Sysco’s decision to sell Iowa Premium cattle processing business will help it focus on core areas with greater growth potential.Further, to evolve with consumers’ changing preferences, Sysco is committed toward investing in technology and enhancing e-commerce operations. It is focused on enhancing customer-facing tools like delivery app and other enrichments on its digital shopping platform. Moreover, the company plans to improve supply chain and increase transparency.Wrapping UpThese upsides indicate that the company is on track to maintain growth momentum. We expect that such efforts will enable the company to combat hurdles like unfavorable currency movements and higher operational costs. That said, we expect the company to continue in investors’ good books.Looking For More Consumer Staples Stocks? Check TheseThe Chefs' Warehouse CHEF, with a Zacks Rank #2 (Buy), has long-term earnings growth rate of 15%. You can seethe complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.The J. M. Smucker Company SJM, with an expected long-term earnings growth rate of 4%, also carries a Zacks Rank #2.Campbell Soup Company CPB, with long-term earnings growth rate of 5%, carries a Zacks Rank #2.The Hottest Tech Mega-Trend of AllLast year, it generated $8 billion in global revenues. By 2020, it's predicted to blast through the roof to $47 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for regular investors who make the right trades early.See Zacks' 3 Best Stocks to Play This Trend >> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.Click to get this free reportSysco Corporation (SYY) : Free Stock Analysis ReportThe Chefs' Warehouse, Inc. (CHEF) : Free Stock Analysis ReportThe J. M. Smucker Company (SJM) : Free Stock Analysis ReportCampbell Soup Company (CPB) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research
When is Robert Mueller set to testify to Congress and what can we expect? Robert Mueller will testify before the House Intelligence and Judiciary committees on July 17. The highly anticipated appearance comes three months after the special counsel released the 400-page report on Russian efforts to interfere with the 2016 US presidential election. The testimony will take place over two open sessions with Mr Mueller and two closed sessions with his staff. The House judiciary committee will choose 22 of its 41 members to question the special counsel during the open sessions, an aide told NBC . Each chosen member will be allowed five minutes of questioning. They, along with those not chosen for the open sessions, will be given time to follow up during closed session. They’ll be allowed to ask anything they want, but are expected to stay within questioning that deals with information given in the report. There will be no transcript of the closed session of the House intelligence committee, for which members will have access to the un-redacted version of volume 1 of the Mueller report. There will likely be a transcript of the session with the House judiciary Committee, for which members will be given an un-redacted version of the volume II. The first volume deals with collusion and conspiracy with the Russian government, while the second one deals with obstruction of justice. Neither committee will be given access to redacted information that protects information provided to the grand jury. Republicans on both committees include some of the president’s most ardent supporters, like representatives Jim Jordan, Matt Gaetz, Devin Nunes. Several representatives told Politico that they planned to stick to a line of questioning that relies on the conclusion that there was “no collusion” found by the lengthy report. On the Democrats' side, members are likely to push for more clarification. “It’s clear that most Americans – and even some Members of Congress – have not read Mueller’s report, and understand the deeply unethical, unpatriotic and corrupt behaviour that he uncovered by the Trump campaign and President Trump,” said a spokesperson for representative Eric Swalwell, a Democrat on the House Judiciary Committee. “That’s why it is so important that Americans hear directly from Mueller himself.” View comments
Tim Cook says Apple is working on products that ‘will blow you away’ Click here to read the full article. Given how integral a role Jony Ive played in transforming Apple into the most successful company on the planet, most everyone naturally assumed that the famed designer would spend the entirety of his career at Apple. Consequently, the news that Ive would be leaving Apple to start a new design firm caught everyone off guard and, as you would expect, prompted a seemingly endless amount of speculation and reports surrounding his departure. One of the more fascinating takes came from a Wall Street Journal article which articulated a myriad of reasons behind Ive’s departure. In one excerpt, the report claimed that Ive was none too pleased with some of the strategic decisions made with respect to the Apple Watch insofar that Ive wanted the device to be positioned as a fashion accessory as opposed to a fitness-oriented device. Even more intriguing is the allegation that Ive was “dispirited” by Tim Cook showing “little interest in the product development process.” Related Stories: Apple's unannounced new MacBook Pro just leaked iOS beta 3 is hiding a puzzling new iPhone feature Xiaomi has returned to its playbook of copying Apple, this time with 'Mimoji' The report further claimed: Mr. Ive grew frustrated as Apple’s board became increasingly populated by directors with backgrounds in finance and operations rather than technology or other areas of the company’s core business. The WSJ report was somewhat damning, so much so that it prompted Tim Cook to uncharacteristically pen a rebuttal via an email to NBC News . The story is absurd. A lot of the reporting, and certainly the conclusions, just don’t match with reality. At a base level, it shows a lack of understanding about how the design team works and how Apple works. It distorts relationships, decisions and events to the point that we just don’t recognize the company it claims to describe. The design team is phenomenally talented. As Jony has said, they’re stronger than ever, and I have complete confidence that they will thrive under Jeff, Evans and Alan’s leadership. We know the truth, and we know the incredible things they’re capable of doing. The projects they’re working on will blow you away. Story continues Incidentally, rumor has it that Apple’s vaunted design team is still working on a pair of AR glasses that, according to some analysts, will launch as soon as 2020. BGR Top Deals: This $16 clip-on lens kit fits the iPhone or any Android phone, and it’s awesome Amazon deal offers a 7-inch Android tablet for under $43 See the original version of this article on BGR.com
Apple Roundup: China, iPhone Rumor, WWDC, Acquisitions June ended on a positive note for the market with the President relenting on the issue of Huawei and going back to the negotiating table with China. This is good for many technology companies including Apple AAPL, which has from the beginning said that no good would come from the trade war. CEO Tim Cook, along with other technology leaders have been meeting with the President and his advisory committee where they have promised to train an increasing number of Americans so the skill shortage wont force them to recruit from other places. At the same time, Apple is considering moving part of its manufacturing out of China and preparing for antitrust lawsuits at home. Regulatory matters aside, June is always special because Apple hosts its developers’ conference this month, which along with some acquisition news, rounds out the top stories. Apple Moving Production Out of China According to a Nikkei Asian Review report, Apple has asked its Chinese suppliers Foxconn, Pegatron, Wistron, MacBook maker Quanta Computer, iPad maker Compal Electronics and AirPods makers Inventec Corp, Luxshare-ICT and Goertek to consider moving 15-30% of production out of China. The goal is to geographically diversify the supplier base so as not to be overly dependent on any particular country/government. Apple apparently specified that Mexico, India, Vietnam, Indonesia and Malaysia were preferred locations with India and Vietnam being favorites for smartphones. Meanwhile, Young Liu-Way, one of Foxconn's incoming directors, has said that around 25% of its production capacity is already located outside China and that there would be no difficulty responding to the demands of the U.S. market. CEO Tim Cook maintains that while people think that the iPhone is made in China, it’s actually only assembled there and that the iPhone is actually built all over the world. “And so a tariff on the iPhone would hurt all of those countries, but the one that would be hurt the most is this one,” he said of the U.S. He has also said that he doesn’t expect China to impose retaliatory tariffs that could hurt Apple: "Well, currently, the Chinese have not targeted Apple at all. And I don't anticipate that happening, to be honest," according to CBS News. Morgan Stanley analysts estimate that the impact of Apple’s China exposure is 29% of earnings as any loss of revenue is partially offset by reduction in operating cost. Developers Sue Apple After the Supreme Court okayed lawsuits against Apple regarding its dominance of the iOS app marketplace, some developers have sued the company for forcing them to sell via the app store. Developers of basketball-workout and baby-naming apps were among entities complaining that Apple’s policy of requiring sales only through the app store forced them to raise the prices of their apps. Apple’s 30% commission for maintaining a relatively secure marketplace where they had to compete with 2 million other developers for visibility, is excessive according to them, and prevented them from making a profit. Apple has denied that it’s a monopoly because they can still make Android apps, but of course this is not the issue. It has also said that it charged a commission of only 1% of Spotify SPOT users, so the company shouldn’t complain (Spotify is the one that first took the matter to European regulators). The monopolistic practices of technology companies have come under fire of late, so Apple’s arguments may not stand up in court. It’s dominance of the iOS marketplace may be short-lived. Then again, it may succeed in keeping the matter in court indefinitely. Developers’ Update The highlights of this year’s WWDC included a brand-new iPad OS and updates for watchOS, tvOS, iOS 13 and macOS. Here are some of the highlights- The iPadOS interface is now a hybrid between macOS and iOS with enhanced Apple Pen support, upgraded Split View and Slide Over, a more powerful Files App, as well as a customizable home screen. The iOS 13 preview showed a new Dark Mode for iOS, more comprehensive editing tools, a revamped Maps app with much greater accuracy despite being far more detailed (to launch later this year) and a more natural sounding Siri. There will also be a new encryption framework called CryptoKit that developers can use to “perform cryptographic operations securely and efficiently” in iOS applications. The promise is that the new OS will launch apps up to 2X as fast, with 30% improvement in Face ID unlocking speeds, a 50% drop in app download sizes and a 60% drop in app update sizes. The completely voice-controlled macOS Catalina launches this fall with improved iPad compatibility to Mac owners using models from mid-2012 or later. It allows iPads to be used as second displays. It replaces iTunes with standalone versions of the Apple Music, Apple Podcasts and Apple TV apps. It comes with Project Catalyst that helps iPad developers easily convert their apps into Mac apps. The watchOS will launch this fall, bringing healthcare enhancements for women and the hearing impaired. The update is available for Apple Watch Series 1 devices or later paired with iPhone 6S or later and running iOS 13 or later. It’s coming with the watchOS version of the App Store, complete with calculator, audiobook and voice-recording apps. The new tvOS, to launch in the fall of 2019, will have a new Apple TV home screen and multi-user support for personalized experience to each user. It will also come with Xbox One and PlayStation 4 game controller support. With a focus on privacy and security, Apple’s new "Human Interface Guidelines" requires developers to place a “Sign in with Apple” option above the “Sign in with Google” or “Sign in with Facebook” buttons they provide in their apps (when they provide these options). These buttons come in handy for users who don’t want to bother with remembering separate sign-in credentials for each app. But users don’t always realize that linking all their activities to their Google or Facebook FB accounts enables these companies to use their data for profiling, ad targeting and developing artificial intelligence. Apple proposes a more private sign-in option that won’t allow this to happen. Since users generally pick the default or the option placed right at the top, that’s where Apple wants its button to be. The guidelines aren’t strictly mandatory but developers widely believe that compliance helps them get approved. iPhone 11 Rumors Veteran Apple analyst Ming Chi Kuo has forwarded the information that Apple is gearing up to launch 5.4-inch and 6.7-inch flagship iPhones in 2020. The lower-cost version will also have a big screen size of 6.1-inches and an OLED display. The modem in all phones will come from Qualcomm but only the 5.4-inch and 6.7-inch versions will have 5G with the 6.1-inch version only offering LTE. Its own 5G modem will first be introduced in its flagship devices in 2022 or 2023. Apple Interested in Intel’s Modem Business According to sources at The Information, Apple is looking to buy Intel’s modem business, which is basically the wireless arm of the German technology firm Infineon that Intel INTC purchased in 2011 for $1.4 billion. This is the same unit that supplied baseband chips to Apple between 2007 and 2010, before it became part of Intel. Intel has said publicly that after Apple patched up with Qualcomm QCOM and entered into a multi-year licensing deal with the chipmaker, the modem business wasn’t something the company could profitably pursue any more. So it has been looking for buyers. The reason Apple is interested in Intel’s unit is because of its ultimate goal of developing the 5G modem internally. As far as the Qualcomm truce is concerned, Apple was forced to eat humble pie after declaring that Qualcomm’s licensing fees were extortionist and taking the chipmaker to court. Apple has the strategy of making as much of its devices in-house as possible and has been building a semiconductor team for some time. The current deal is likely designed to buy it time until the technology is ready internally. In February, Apple hired away Umashankar Thyagrajan from Intel, who is thought to have played a key role in the development of its XMM 8160 5G modem (that was being developed for Intel, but wasn’t delivered on time). Bought Drive.ai Some people were concerned that Apple was shuttering its self-driving operations, or at least trimming it when it announced a headcount reduction of 200 in January. Apple put those fears to rest in June with the confirmation that it was buying struggling self-driving shuttle service Drive.ai. The company operates in Texas. This is a standard aqui-hire, with not much more to add. The company trimmed its own workforce by 90 before Apple acquired it. Apple being the giant that it is, doesn’t need to report what it paid for the company, but Drive.ai reportedly raised $77 million. Unlike Alphabet’s GOOGL Waymo, Apple hasn’t reported any major automotive partnerships and its own self driving technology doesn’t receive the same amount of press, but comments by Tim Cook on various occasions indicate that it remains very much in the running. Talking about where it’s going in the future is just something Apple has never done that well. You can seethe complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. Wall Street’s Next Amazon Zacks EVP Kevin Matras believes this familiar stock has only just begun its climb to become one of the greatest investments of all time. It’s a once-in-a-generation opportunity to invest in pure genius. Click for details >> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.Click to get this free reportFacebook, Inc. (FB) : Free Stock Analysis ReportAlphabet Inc. (GOOGL) : Free Stock Analysis ReportQUALCOMM Incorporated (QCOM) : Free Stock Analysis ReportApple Inc. (AAPL) : Free Stock Analysis ReportIntel Corporation (INTC) : Free Stock Analysis ReportSpotify Technology SA (SPOT) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research
Why Coty Stock Tumbled Today Shares ofCoty(NYSE: COTY)took a dive today when investors seemed underwhelmed by the company's turnaround plan, released this morning. The update had been highly anticipated; Coty had struggled since acquiring Cover Girl, Clairol, and dozens of other brands fromProcter & Gamblefor more than $12 billion in 2016. Coty stock is down 55% over the last three years, despite a recovery this year as the company brought in a new executive team, including a new CEO and CFO, and as JAB Holding -- the giant, consumer-focused, private investment group that owns companies including Panera Bread, Krispy Kreme, and a majority ofKeurig Dr Pepper--upped its stakein Coty to 60% earlier this year. Coty shares closed down 13.5% today. Image source: Getty Images. Coty outlined a four-year transformation plan, which includes a $3 billion asset impairment related to the brands acquired from P&G, and said it would incur one-time costs of $600 million to implement the plan. By fiscal 2023, about four years from now, Coty said that revenue would be similar to where it is this year (fiscal 2019), but that its operating margin would improve to 14%-16%; this compares to an adjusted operating margin of 10.6% through the first three quarters of fiscal 2019. It also expects free cash flow around $1 billion, a significant improvement from $120 million through the first three quarters of this year, and a net debt-to-EBITDA ratio under 4, compared to 5.7 today. In order to accomplish this, the company is restructuring management of its luxury and consumer beauty segments under regional teams. It's also moving its headquarters from New York to Amsterdam, which it called a cost-efficient and tax-stable location close to its main markets and a strong base of talent. Management said the new organizational structure would be in place by the new year, and the headquarters move will be completed a year from now. Additionally, the company said it would trim the number of SKUs (stock-keeping units) it sells in order to drive efficiencies. It also said it would lower input costs, improve its supply chain, and, with the help of its reorganization plan, reduce fixed costs. It's hard to criticize Coty for the range of its turnaround plan, which is ambitious and far-reaching. However, investors seem skeptical that the company can reach its targets, and are also wary of the $3 billion writedown and $600 million in one-time costs. That the company also expects revenue to be flat four years from now shows how entrenched the challenges in its consumer beauty business have become. Nonetheless, if the new management team can execute on its turnaround goals, the stock should rise over the coming years. At the very least, investors now have a benchmark by which to measure the company's progress. More From The Motley Fool • 10 Best Stocks to Buy Today • The $16,728 Social Security Bonus You Cannot Afford to Miss • 20 of the Top Stocks to Buy (Including the Two Every Investor Should Own) • What Is an ETF? • 5 Recession-Proof Stocks • How to Beat the Market Jeremy Bowmanhas no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has adisclosure policy.
Need To Know: Midway Limited (ASX:MWY) Insiders Have Been Selling Shares Want to participate in ashort research study? Help shape the future of investing tools and you could win a $250 gift card! We often see insiders buying up shares in companies that perform well over the long term. 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 shareholders might well want to know whether insiders have been buying or selling shares inMidway Limited(ASX:MWY). Most investors know that it is quite permissible for company leaders, such as directors of the board, to buy and sell stock on the market. However, most countries require that the company discloses such transactions to the market. We would never suggest that investors should base their decisions solely on what the directors of a company have been doing. But equally, we would consider it foolish to ignore insider transactions altogether. For example, a Harvard Universitystudyfound that 'insider purchases earn abnormal returns of more than 6% per year.' View our latest analysis for Midway In the last twelve months, the biggest single sale by an insider was when the Independent Non-Executive Director, Anthony Bennett, sold AU$140k worth of shares at a price of AU$3.52 per share. That means that an insider was selling shares at around the current price of AU$3.45. While we don't usually like to see insider selling, it's more concerning if the sales take price at a lower price. Given that the sale took place at around current prices, it makes us a little cautious but is hardly a major concern. In total, Midway insiders sold more than they bought over the last year. You can see a visual depiction of insider transactions (by individuals) over the last 12 months, below. If you click on the chart, you can see all the individual transactions, including the share price, individual, and the date! For those who like to findwinning investmentsthisfreelist of growing companies with recent insider purchasing, could be just the ticket. The last quarter saw substantial insider selling of Midway shares. Specifically, Anthony Bennett ditched AU$140k worth of shares in that time, and we didn't record any purchases whatsoever. Overall this makes us a bit cautious, but it's not the be all and end all. Many investors like to check how much of a company is owned by 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. Midway insiders own about AU$16m worth of shares. That equates to 5.4% of the company. This level of insider ownership is good but just short of being particularly stand-out. It certainly does suggest a reasonable degree of alignment. An insider sold Midway shares recently, but they didn't buy any. Zooming out, the longer term picture doesn't give us much comfort. But it is good to see that Midway is growing earnings. Insider ownership isn't particularly high, so this analysis makes us cautious about the company. We're in no rush to buy! Of course,the future is what matters most. So if you are interested in Midway, you should check out thisfreereport on analyst forecasts for the company. Of courseMidway may not be the best stock to buy. So you may wish to see thisfreecollection of high quality 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.
Bankrupt Puerto Rico hit with new spending curbs by oversight board By Luis Valentin Ortiz SAN JUAN, July 1 (Reuters) - Puerto Rico’s federally created fiscal oversight board on Monday imposed a fiscal 2020 budget on the bankrupt U.S. commonwealth that for the first time limits spending choices by its government, according to the board's executive director. Natalie Jaresko said the $20.2 billion budget for the central government that includes $9.1 billion of general fund spending complies with the fiscal plan for the island, which filed a form of bankruptcy in 2017 to restructure about $120 billion of debt and pension obligations. "It reflects the priorities of that fiscal plan - public safety, healthcare, education and the continued right-sizing of the government," Jaresko told reporters. She added that the budget for the fiscal year that began on Monday contains new "detailed" spending levels that will prohibit the government from moving money around to pay for things not in the fiscal plan like employees' Christmas bonuses. Governor Ricardo Rossello told reporters the board did not include the bonus payment in last year's budget but "we found a way to pay for it." Puerto Rico lawmakers on Sunday approved an approximately $9.6 billion general fund budget that includes roughly $500 million in pension and healthcare payments previously paid by cash-strapped municipalities and public corporations, as well as money for bonuses. “Those monies are not in the budget nor the certified fiscal plan,” Jaresko said, adding that municipalities must seek ways to increase their own revenue. Christian Sobrino, the governor’s fiscal oversight board representative, said the government is analyzing the board's budget and “reviewing the mechanisms that will be used to implement public policy measures that the board has sought to impede through the budget.” Last year, Rossello sued the board over its imposed budget, arguing the panel exceeded its powers. U.S. Judge Laura Taylor Swain, who presides over the island’s bankruptcy process, ruled in August that the board has broad and exclusive authority over Puerto Rico’s budget under the federal PROMESA Act, although it cannot demand changes in law. Faced with similar differences between the board and the elected government over this year's budget, Jaresko said on Monday that “there’s no reason to go to court” given Swain's ruling. Meanwhile, the board said it sued certain fuel suppliers of the island’s bankrupt power utility, or PREPA, over the weekend to “recover potentially billions of dollars in fraudulent payments,” related to the delivery of substandard fuel between 2002 and 2015, according to statement. (Reporting by Luis Valentin Ortiz in San Juan, Additional reporting by Karen Pierog in Chicago Editing by Matthew Lewis)
Ice in Alaska melting far earlier than normal this year, alarming scientists and hunters Arctic sea ice on Alaska s coasts is melting far earlier than normal this year, with the unusual circumstances leading rural residents and scientists to sound the alarm that there could be negative impacts on fish, sea birds, and seals in the area. The unusual melt is the result of warm ocean temperatures, and has led to concerns about food scarcity for communities there. It has been crazy, Janet Mitchell, a resident of the Kivalina village in northwest Alaska, told the Anchorage Daily News . Ms Mitchell said members of her tribe set out in June to hunt bearded seals on ice, but were unable to find the animals after a 50 mile journey in their boats. The ice, she said, should have been nearby to her village, but that the warm temperatures had melted much of it and led the seals further away. We didnt know if wed have our winter food, Ms Mitchell said. That was scary. Rick Thoman, a climatologist at the University of Alaska Fairbanks, tweeted that the ice in the Arctic is baking, citing data showing that sea surface temperatures last week were 9 degrees Celsius above normal temperatures. The incident is a part of a positive feedback loop that is pushing temperatures higher and higher. Rising ocean temperatures melt ice, which warms the ocean, scientists say, which in turn melts more ice. It is not yet clear what impacts, if any, the unusual temperatures in the Arctic waters will have on commercial fishing.
Fast Order Growth and Productivity Are Shoring Up Herman Miller's Earnings Power Office furnishings and design giantHerman Miller(NASDAQ: MLHR)impressed investors with its final quarterly report of fiscal 2019 last week. Results released on June 26 reveal that despite headwinds arising from Brexit-inspired uncertainty in Europe and trade disputes between the U.S. and China, the manufacturer is still enjoying sustained demand from corporate furnishings buyers and retail customers. Herman Miller's success was fueled during both the quarter and fiscal year by brisk new order growth that was undergirded by a tight hold on overhead expenses. As we break down the details of the last three months, note that all comparative numbers are presented against the prior-year quarter. [{"Metric": "Revenue", "Q4 2019": "$671.0 million", "Q4 2018": "$618.0 million", "Growth (YOY)": "8.6%"}, {"Metric": "Net income", "Q4 2019": "$46.2 million", "Q4 2018": "$31.8 million", "Growth (YOY)": "45.3%"}, {"Metric": "Diluted earnings per share", "Q4 2019": "$0.78", "Q4 2018": "$0.53", "Growth (YOY)": "47.2%"}] Data source: Herman Miller. YOY = year over year. Image source: Herman Miller. • Record quarterly reported revenue of $671 million handily exceeded management's forecasted top-line range of $645 million to $650 million. • Sales increased by 7.6% on an organic basis (i.e., adjusting reported sales for foreign currency effects and the adoption of new accounting standard ASC 606). • New orders rose 6.4% on an organic basis to $670 million, following a 7.6% growth rate in the last sequential quarter (the third quarter of fiscal 2019). A continued healthy pace of order growth throughout fiscal 2019 has helped to solidify investors' confidence in the professional environments specialist -- shares have jumped 45% year to date. • Herman Miller's order backlog increased by 12% to $394.2 million. • The company made changes to its operating and reporting structure. Effective from the beginning of the fourth quarter, the specialty segment has been folded into the North American segment. These divisions were combined to better align sales teams. In addition, Europe, Latin America, and Asia (ELA) has been renamed "International," while the consumer segment has been renamed "Retail." • Gross margininched up by 10basis pointsto 37%. Adjusting for the adoption of ASC 606, gross margin improved by 70 basis points -- an admirable result given that the company is still grappling with rising commodity prices and the inflationary impact of import tariffs. • Operating marginjumped by 180 basis points to 8.4% as Herman Miller held operating costs nearly flat against the prior-year quarter even as sales climbed. Management pointed to the organization's ongoing profit improvement initiative as a key driver behind the effective cost control. • Herman Miller raised its quarterly dividend by 6% to $0.21. The dividend now yields 1.8% on an annualized basis at its current share price. In the company's earnings press release, CFO Jeff Stutz provided some detail on Herman Miller's recent operating leverage, which has manifested in its expanding top line, cost discipline, and productivity enhancement: We were encouraged by broad-based sales and order growth for the quarter, supported by favorable macro-economic conditions and continued traction from our strategic priorities. We also further positioned our Retail business for profitable growth with the opening of three new Design Within Reach studios in the fourth quarter, a lease termination related to an underperforming studio and beginning the transition to a new, state of the art distribution center in Batavia, Ohio. These actions reflected expenses of $4.5 million during the quarter and, while they pressured profitability in the quarter, are important enablers for future growth and operating margin expansion of our Retail business. Even after factoring in these initiatives, consolidated sales growth, gross margin expansion and well-managed operating expenses combined to drive 33% growth in adjusted earnings per share compared to the same quarter last year. For the first quarter of fiscal 2020, Herman Miller's management expects revenue to fall between $650 million and $670 million. This implies 6% annual organic revenue growth at the midpoint of the range. Diluted EPS are penciled in at $0.77 to $0.81, a range which, while close to current-quarter EPS, implies roughly 32% growth over the $0.60 in diluted EPS the company achieved in the first quarter of fiscal 2018. More From The Motley Fool • 10 Best Stocks to Buy Today • The $16,728 Social Security Bonus You Cannot Afford to Miss • 20 of the Top Stocks to Buy (Including the Two Every Investor Should Own) • What Is an ETF? • 5 Recession-Proof Stocks • How to Beat the Market Asit Sharmahas no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has adisclosure policy.
After explosions, Brazil power transmission companies remove GE equipment By Luciano Costa SAO PAULO, July 1 (Reuters) - After an unusual number of explosions, several Brazilian power transmission companies have started removing a piece of equipment made by General Electric Co, a blow for GE's Brazil unit as it battles competing suppliers from China and India. Brazil's grid operator ONS recommended replacing GE's CTH-550 transformer model after registering 53 explosions, as Reuters exclusively reported in January. ONS said then that the equipment showed "a failure rate that is superior to what is expected" for such a device. There are close to 700 pieces of that equipment in Brazil's grid, each costing up to 100,000 reais ($26,000). Power transmission companies have already launched tenders to buy replacement transformers while they discuss the costs and a schedule for the changes with GE and regulators. In a statement to Reuters, GE said it is investigating what caused the equipment failure in Brazil. "GE Grid Solutions performed a series of checks in the equipment with its clients and, as of this moment, there is no evidence that the problems were caused by the design, components or production processes," it said. Brazil's electrical energy regulator Aneel said that, after conducting a detailed analysis, it has determined the problem is with the manufacturer. "The transmission companies acquired a product which, according to the reports, has presented a high rate of failure," Aneel director Sandoval Feitosa told Reuters. Taesa, one of Brazil's largest power transmission companies, controlled by regional utility Cemig and Colombia's ISA, said it has started replacing all GE model CTH-550 transformers in its networks. Taesa's CEO Raul Lycurgo Leite said the changes will be completed next year, adding that it will take time due to the buying process and coordinated grid work. China's State Grid Corp, which has expanded strongly in Brazil this decade, has also confirmed plans to make the changes, but did not provide further details. Other companies such as Furnas and Copel said they have opened tenders to buy new transformers. These companies are also negotiating with Brazil's electricity regulator Aneel to have some fines suspended. They were fined due to interruption in the flow of power after the explosions and say they are not responsible for the outages. ($1 = 3.8407 reais) (Reporting by Luciano Costa; writing by Marcelo Teixeira; Editing by Lisa Shumaker)
AbbVie (ABBV) Outpaces Stock Market Gains: What You Should Know In the latest trading session, AbbVie (ABBV) closed at $73.40, marking a +0.94% move from the previous day. This change outpaced the S&P 500's 0.77% gain on the day. Elsewhere, the Dow gained 0.44%, while the tech-heavy Nasdaq added 1.06%. Prior to today's trading, shares of the drugmaker had lost 6.3% over the past month. This has lagged the Medical sector's gain of 5.02% and the S&P 500's gain of 5.12% in that time. ABBV will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $2.21, up 10.5% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $8.09 billion, down 2.27% from the year-ago period. ABBV's full-year Zacks Consensus Estimates are calling for earnings of $8.78 per share and revenue of $32.79 billion. These results would represent year-over-year changes of +11% and +0.11%, respectively. Any recent changes to analyst estimates for ABBV should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook. Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system. Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 0.39% lower within the past month. ABBV is currently a Zacks Rank #3 (Hold). Valuation is also important, so investors should note that ABBV has a Forward P/E ratio of 8.29 right now. This represents a discount compared to its industry's average Forward P/E of 14.69. Also, we should mention that ABBV has a PEG ratio of 1.49. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Large Cap Pharmaceuticals industry currently had an average PEG ratio of 2.1 as of yesterday's close. The Large Cap Pharmaceuticals industry is part of the Medical sector. This group has a Zacks Industry Rank of 77, putting it in the top 31% of all 250+ industries. The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1. Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.Click to get this free reportAbbVie Inc. (ABBV) : Free Stock Analysis ReportTo read this article on Zacks.com click here.
Qudian (QD) Gains But Lags Market: What You Should Know Qudian (QD) closed the most recent trading day at $7.51, moving +0.13% from the previous trading session. This change lagged the S&P 500's 0.77% gain on the day. At the same time, the Dow added 0.44%, and the tech-heavy Nasdaq gained 1.06%. Heading into today, shares of the online micro-lending company had gained 10.78% over the past month, outpacing the Finance sector's gain of 4.26% and the S&P 500's gain of 5.12% in that time. Investors will be hoping for strength from QD as it approaches its next earnings release. On that day, QD is projected to report earnings of $0.39 per share, which would represent year-over-year growth of 14.71%. QD's full-year Zacks Consensus Estimates are calling for earnings of $1.75 per share and revenue of $1.13 billion. These results would represent year-over-year changes of +52.17% and -2.17%, respectively. Investors should also note any recent changes to analyst estimates for QD. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook. Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system. The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. QD is holding a Zacks Rank of #3 (Hold) right now. Investors should also note QD's current valuation metrics, including its Forward P/E ratio of 4.29. This valuation marks a discount compared to its industry's average Forward P/E of 7.74. The Financial - Consumer Loans industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 16, which puts it in the top 7% of all 250+ industries. The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1. You can find more information on all of these metrics, and much more, on Zacks.com. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.Click to get this free reportQudian Inc. Sponsored ADR (QD) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research
Intel (INTC) Gains But Lags Market: What You Should Know Intel (INTC) closed the most recent trading day at $48.05, moving +0.38% from the previous trading session. This move lagged the S&P 500's daily gain of 0.77%. Elsewhere, the Dow gained 0.44%, while the tech-heavy Nasdaq added 1.06%. Heading into today, shares of the world's largest chipmaker had gained 7.02% over the past month, outpacing the Computer and Technology sector's gain of 4.12% and the S&P 500's gain of 5.12% in that time. Investors will be hoping for strength from INTC as it approaches its next earnings release, which is expected to be July 25, 2019. In that report, analysts expect INTC to post earnings of $0.88 per share. This would mark a year-over-year decline of 15.38%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $15.60 billion, down 8.02% from the year-ago period. INTC's full-year Zacks Consensus Estimates are calling for earnings of $4.23 per share and revenue of $68.51 billion. These results would represent year-over-year changes of -7.64% and -3.3%, respectively. It is also important to note the recent changes to analyst estimates for INTC. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook. Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system. The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.89% lower. INTC is holding a Zacks Rank of #3 (Hold) right now. Looking at its valuation, INTC is holding a Forward P/E ratio of 11.33. This represents a discount compared to its industry's average Forward P/E of 16.35. It is also worth noting that INTC currently has a PEG ratio of 1.51. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. Semiconductor - General stocks are, on average, holding a PEG ratio of 1.85 based on yesterday's closing prices. The Semiconductor - General industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 104, which puts it in the top 41% of all 250+ industries. The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1. Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.Click to get this free reportIntel Corporation (INTC) : Free Stock Analysis ReportTo read this article on Zacks.com click here.
Square (SQ) Outpaces Stock Market Gains: What You Should Know Square (SQ) closed the most recent trading day at $73.22, moving +0.95% from the previous trading session. This change outpaced the S&P 500's 0.77% gain on the day. At the same time, the Dow added 0.44%, and the tech-heavy Nasdaq gained 1.06%. Heading into today, shares of the mobile payments services provider had gained 13.92% over the past month, outpacing the Computer and Technology sector's gain of 4.12% and the S&P 500's gain of 5.12% in that time. Wall Street will be looking for positivity from SQ as it approaches its next earnings report date. On that day, SQ is projected to report earnings of $0.16 per share, which would represent year-over-year growth of 23.08%. Meanwhile, our latest consensus estimate is calling for revenue of $1.11 billion, up 36.4% from the prior-year quarter. For the full year, our Zacks Consensus Estimates are projecting earnings of $0.76 per share and revenue of $4.48 billion, which would represent changes of +61.7% and +35.79%, respectively, from the prior year. Investors might also notice recent changes to analyst estimates for SQ. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability. Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system. The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.95% higher. SQ is holding a Zacks Rank of #2 (Buy) right now. Looking at its valuation, SQ is holding a Forward P/E ratio of 95.88. This represents a premium compared to its industry's average Forward P/E of 62.74. We can also see that SQ currently has a PEG ratio of 3.84. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. Internet - Software stocks are, on average, holding a PEG ratio of 2.77 based on yesterday's closing prices. The Internet - Software industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 98, putting it in the top 39% of all 250+ industries. The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1. To follow SQ in the coming trading sessions, be sure to utilize Zacks.com. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.Click to get this free reportSquare, Inc. (SQ) : Free Stock Analysis ReportTo read this article on Zacks.com click here.
Facebook (FB) Flat As Market Gains: What You Should Know Facebook (FB) closed the most recent trading day at $193, making no change from the previous trading session. This change lagged the S&P 500's 0.77% gain on the day. Meanwhile, the Dow gained 0.44%, and the Nasdaq, a tech-heavy index, added 1.06%. Heading into today, shares of the social media company had gained 5.46% over the past month, outpacing the Computer and Technology sector's gain of 4.12% and the S&P 500's gain of 5.12% in that time. Wall Street will be looking for positivity from FB as it approaches its next earnings report date. On that day, FB is projected to report earnings of $1.90 per share, which would represent year-over-year growth of 9.2%. Meanwhile, our latest consensus estimate is calling for revenue of $16.45 billion, up 24.3% from the prior-year quarter. Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $7.09 per share and revenue of $69.29 billion. These totals would mark changes of -6.34% and +24.09%, respectively, from last year. Any recent changes to analyst estimates for FB should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook. Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system. Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. FB is currently a Zacks Rank #3 (Hold). Investors should also note FB's current valuation metrics, including its Forward P/E ratio of 27.23. Its industry sports an average Forward P/E of 29.2, so we one might conclude that FB is trading at a discount comparatively. Investors should also note that FB has a PEG ratio of 1.35 right now. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Internet - Services was holding an average PEG ratio of 2.75 at yesterday's closing price. The Internet - Services industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 63, which puts it in the top 25% of all 250+ industries. The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1. You can find more information on all of these metrics, and much more, on Zacks.com. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.Click to get this free reportFacebook, Inc. (FB) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research
AT&T (T) Stock Sinks As Market Gains: What You Should Know AT&T (T) closed at $33.43 in the latest trading session, marking a -0.24% move from the prior day. This change lagged the S&P 500's 0.77% gain on the day. Meanwhile, the Dow gained 0.44%, and the Nasdaq, a tech-heavy index, added 1.06%. Coming into today, shares of the telecommunications company had gained 5.18% in the past month. In that same time, the Computer and Technology sector gained 4.12%, while the S&P 500 gained 5.12%. Wall Street will be looking for positivity from T as it approaches its next earnings report date. This is expected to be July 24, 2019. In that report, analysts expect T to post earnings of $0.90 per share. This would mark a year-over-year decline of 1.1%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $45.02 billion, up 15.48% from the year-ago period. Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $3.58 per share and revenue of $183.33 billion. These totals would mark changes of +1.7% and +7.36%, respectively, from last year. Investors might also notice recent changes to analyst estimates for T. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook. Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model. Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 0.09% lower within the past month. T is holding a Zacks Rank of #3 (Hold) right now. In terms of valuation, T is currently trading at a Forward P/E ratio of 9.35. This represents a discount compared to its industry's average Forward P/E of 15.3. Meanwhile, T's PEG ratio is currently 2.09. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. T's industry had an average PEG ratio of 2.09 as of yesterday's close. The Wireless National industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 80, putting it in the top 32% of all 250+ industries. The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1. Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.Click to get this free reportAT&T Inc. (T) : Free Stock Analysis ReportTo read this article on Zacks.com click here.
Home Depot (HD) Outpaces Stock Market Gains: What You Should Know In the latest trading session, Home Depot (HD) closed at $210.28, marking a +1.11% move from the previous day. This move outpaced the S&P 500's daily gain of 0.77%. At the same time, the Dow added 0.44%, and the tech-heavy Nasdaq gained 1.06%. Heading into today, shares of the home-improvement retailer had gained 8.84% over the past month, outpacing the Retail-Wholesale sector's gain of 6.01% and the S&P 500's gain of 5.12% in that time. Wall Street will be looking for positivity from HD as it approaches its next earnings report date. On that day, HD is projected to report earnings of $3.09 per share, which would represent year-over-year growth of 1.31%. Our most recent consensus estimate is calling for quarterly revenue of $30.97 billion, up 1.65% from the year-ago period. Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $10.10 per share and revenue of $111.28 billion. These totals would mark changes of +2.12% and +2.84%, respectively, from last year. It is also important to note the recent changes to analyst estimates for HD. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook. Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model. The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.01% lower within the past month. HD is currently a Zacks Rank #3 (Hold). Investors should also note HD's current valuation metrics, including its Forward P/E ratio of 20.59. This represents a premium compared to its industry's average Forward P/E of 12.88. Also, we should mention that HD has a PEG ratio of 1.93. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Building Products - Retail industry currently had an average PEG ratio of 1.28 as of yesterday's close. The Building Products - Retail industry is part of the Retail-Wholesale sector. This group has a Zacks Industry Rank of 86, putting it in the top 34% of all 250+ industries. The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1. Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.Click to get this free reportThe Home Depot, Inc. (HD) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research
Qualcomm (QCOM) Outpaces Stock Market Gains: What You Should Know In the latest trading session, Qualcomm (QCOM) closed at $77.52, marking a +1.91% move from the previous day. The stock outpaced the S&P 500's daily gain of 0.77%. Elsewhere, the Dow gained 0.44%, while the tech-heavy Nasdaq added 1.06%. Heading into today, shares of the chipmaker had gained 14.24% over the past month, outpacing the Computer and Technology sector's gain of 4.12% and the S&P 500's gain of 5.12% in that time. Investors will be hoping for strength from QCOM as it approaches its next earnings release. The company is expected to report EPS of $0.76, down 24.75% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $5.11 billion, down 8.74% from the prior-year quarter. For the full year, our Zacks Consensus Estimates are projecting earnings of $3.82 per share and revenue of $20.43 billion, which would represent changes of +3.52% and -10.1%, respectively, from the prior year. Investors might also notice recent changes to analyst estimates for QCOM. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability. Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system. The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.3% lower. QCOM is currently a Zacks Rank #3 (Hold). Valuation is also important, so investors should note that QCOM has a Forward P/E ratio of 19.92 right now. Its industry sports an average Forward P/E of 24.03, so we one might conclude that QCOM is trading at a discount comparatively. We can also see that QCOM currently has a PEG ratio of 1.46. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. QCOM's industry had an average PEG ratio of 2.9 as of yesterday's close. The Wireless Equipment industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 29, putting it in the top 12% of all 250+ industries. The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1. Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.Click to get this free reportQUALCOMM Incorporated (QCOM) : Free Stock Analysis ReportTo read this article on Zacks.com click here.

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