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Apple Services Chief Shares More TV+ Details We're just months away from the launch ofApple(NASDAQ: AAPL)TV+, the Mac maker's ambitious foray into a first-party video-streaming service. After years of rumors, the company officiallyunveiled Apple TV+back in March, and it's scheduled to launch this fall. Services chief Eddy Cue has been making the rounds with the media, recently disclosing to a French outlet that Apple Music had hit60 millionpaid subscribers. In a pair of new interviews, Cue has shared some more details about the forthcoming service. Image source: Apple. Cue sat down recently withThe Sunday TimesandBritish GQto discuss Apple's strategy when it comes to video streaming and original content. It's already been quite clear that Apple TV+ will focus on quality over quantity, at least initially, but Cue officially confirmed that approach. Apple has been tapping a stable of high-profile actors, directors, and showrunners for its lineup, including Steven Spielberg, J.J. Abrams, Steve Carell, and Oprah, among others. But we're still only talking about a fairly small catalog compared to other prominent streaming services likeNetflix(NASDAQ: NFLX). Building up large catalogs of original content takes alongtime. Cue told GQ (emphasis added): We think there's an opportunity for us, given the changes that we see in technology to play a part of it. And the way we do things is we always say we try tobe the best, not the most. And we're getting excited about it. The shows we're creating are really, really good. Historically, Netflix had focused on quantity, hoping to offer a dauntingly diverse array of content to cater to as many consumers as possible. More recently, the video-streaming leader has shifted somewhat toward emphasizing quality, taking home a growing number of awards including Emmys and Oscars in recent years as part of its effort to balance quantity and quality. Netflix is also becoming more cost-conscious, according to a report this week from The Information. Cue toldThe Timesthat there's "nothing wrong with that model," but Apple simply isn't interested in doing things that way. While Apple has far deeper pockets than Netflix, it isn't allocating nearly as much to its content budget. Apple reportedly has a budget of $2 billion (up from itsprior budget of $1 billion), while Netflix is expected to plunge a whopping $15 billion into content this year. Netflix spent roughly $12 billion on content last year. The services executive also dismissed prior reports that Apple is exerting undue influence on the creative process.The New York Postreported in March that Apple executives were sending notes to its storytellers, pushing them to be more family-friendly and approachable. CEO Tim Cook allegedly sent a note to producers saying "don't be so mean," which Cue denies ever occurred. "So we have shows that are dedicated to small kids," Cue told GQ. "And we have shows that are dedicated to mature adults." One of the biggest remaining questions about Apple TV+ is the price. Apple hasn't detailed pricing and it will be competing with a field of media heavyweights all launching streaming services. Most comparable services cost around $10 per month. Will quality be enough to justify whatever price that Apple plans on charging? 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 Evan Niu, CFAowns shares of Apple and Netflix. The Motley Fool owns shares of and recommends Apple and Netflix. The Motley Fool has the following options: long January 2020 $150 calls on Apple and short January 2020 $155 calls on Apple. The Motley Fool has adisclosure policy.
If You Had Bought TrueBlue (NYSE:TBI) Stock Five Years Ago, You'd Be Sitting On A 26% Loss, Today Want to participate in ashort research study? Help shape the future of investing tools and you could win a $250 gift card! In order to justify the effort of selecting individual stocks, it's worth striving to beat the returns from a market index fund. But in any portfolio, there will be mixed results between individual stocks. At this point some shareholders may be questioning their investment inTrueBlue, Inc.(NYSE:TBI), since the last five years saw the share price fall 26%. The good news is that the stock is up 4.2% in the last week. Check out our latest analysis for TrueBlue There is no denying that markets are sometimes efficient, but prices do not always reflect underlying business performance. One flawed but reasonable way to assess how sentiment around a company has changed is to compare the earnings per share (EPS) with the share price. While the share price declined over five years, TrueBlue actually managed toincreaseEPS by an average of 6.8% per year. So it doesn't seem like EPS is a great guide to understanding how the market is valuing the stock. Alternatively, growth expectations may have been unreasonable in the past. Because of the sharp contrast between the EPS growth rate and the share price growth, we're inclined to look to other metrics to understand the changing market sentiment around the stock. Revenue is actually up 4.6% over the time period. A more detailed examination of the revenue and earnings may or may not explain why the share price languishes; there could be an opportunity. The image below shows how earnings and revenue have tracked over time (if you click on the image you can see greater detail). We know that TrueBlue has improved its bottom line lately, but what does the future have in store? If you are thinking of buying or selling TrueBlue stock, you should check out thisfreereport showing analyst profit forecasts. Investors in TrueBlue had a tough year, with a total loss of 19%, against a market gain of about 8.4%. However, keep in mind that even the best stocks will sometimes underperform the market over a twelve month period. Regrettably, last year's performance caps off a bad run, with the shareholders facing a total loss of 5.9% per year over five years. Generally speaking long term share price weakness can be a bad sign, though contrarian investors might want to research the stock in hope of a turnaround. Before spending more time on TrueBlueit might be wise to click here to see if insiders have been buying or selling shares. If you are like me, then you willnotwant to miss thisfreelist of growing companies that insiders are buying. Please note, the market returns quoted in this article reflect the market weighted average returns of stocks that currently trade on US exchanges. We aim to bring you long-term focused research analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material.If you spot an error that warrants correction, please contact the editor ateditorial-team@simplywallst.com. This article by Simply Wall St is general in nature. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Simply Wall St has no position in the stocks mentioned. Thank you for reading.
Meghan Markle Aquazzura flats: Get the look for less Getty Images Over the weekend, Meghan Markle embraced a classic American pastime with Prince Harry and attended the first ever Major League Baseball game in London over the weekend. While we’re used to seeing the Duchess of Sussex in sky-high heels, her choice of footwear for the game surprised fans. Keeping things somewhat casual, she left her usual heels at home and stepped out in flats. For game one between the Boston Red Sox and New York Yankees of the London series at London Stadium on Saturday, Markle wore a belted Stella McCartney Dress and a pair of Aquazzura Deneuve Bow Pointy Toe Flats ($956) , black point-toe flats which feature subtle, yet chic details like cut-out sides, a gleaming gold heel and a bow perched at the back. Getty Aquazzura Deneuve Bow Pointy Toe Flat Nordstrom Shop it: $956, Nordstrom While many would consider Markle’s pricey flats to be far from casual, they’re actually a more comfortable take on one of her favourite pair of heels: the Aquazzura Deneuve Bow Pointy Toe Pump ($1,032) . A perfect choice for the Duchess, if you ask us. That said, we know getting the look doesn’t come cheap. To help you get the royal look without the royal price tag, we’ve rounded up more affordable options below. Tawnie Slingback Flats Guess Shop it: $49 (originally $79), Guess The Editor Slingback Everlane Shop it: $203 ($155 USD), Everlane Steven Lourdes Slingback Flats Shopbop Shop it: $78 ($130), Shopbop Italian-Made Pointy Slingback Shoe Le Chateau Shop it: $59.95, Le Chateau Miss Selfridge Slingback Flat Shoes ASOS Shop it: $46, ASOS The editors at Yahoo Lifestyle Canada 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. Let us know what you think by commenting below and tweeting @ YahooStyleCA! Follow us on Twitter and Instagram .
Does Dova Pharmaceuticals, Inc. (NASDAQ:DOVA) Have A High Beta? Want to participate in ashort research study? Help shape the future of investing tools and you could win a $250 gift card! Anyone researching Dova Pharmaceuticals, Inc. (NASDAQ:DOVA) might want to consider the historical volatility of the share price. Modern finance theory considers volatility to be a measure of risk, and there are two main types of price volatility. The first category is company specific volatility. This can be dealt with by limiting your exposure to any particular stock. The other type, which cannot be diversified away, is the volatility of the entire market. Every stock in the market is exposed to this volatility, which is linked to the fact that stocks prices are correlated in an efficient market. Some stocks are more sensitive to general market forces than others. Beta is a widely used metric to measure a stock's exposure to market risk (volatility). Before we go on, it's worth noting that Warren Buffett pointed out in his 2014 letter to shareholders that 'volatility is far from synonymous with risk.' Having said that, beta can still be rather useful. The first thing to understand about beta is that the beta of the overall market is one. A stock with a beta greater than one is more sensitive to broader market movements than a stock with a beta of less than one. See our latest analysis for Dova Pharmaceuticals Given that it has a beta of 1.79, we can surmise that the Dova Pharmaceuticals share price has been fairly sensitive to market volatility (over the last 5 years). If this beta value holds true in the future, Dova Pharmaceuticals shares are likely to rise more than the market when the market is going up, but fall faster when the market is going down. Share price volatility is well worth considering, but most long term investors consider the history of revenue and earnings growth to be more important. Take a look at how Dova Pharmaceuticals fares in that regard, below. With a market capitalisation of US$404m, Dova Pharmaceuticals is a very small company by global standards. It is quite likely to be unknown to most investors. Relatively few investors can influence the price of a smaller company, compared to a large company. This could explain the high beta value, in this case. Since Dova Pharmaceuticals has a reasonably high beta, it's worth considering why it is so heavily influenced by broader market sentiment. For example, it might be a high growth stock or have a lot of operating leverage in its business model. In order to fully understand whether DOVA is a good investment for you, we also need to consider important company-specific fundamentals such as Dova Pharmaceuticals’s financial health and performance track record. I urge you to continue your research by taking a look at the following: 1. Future Outlook: What are well-informed industry analysts predicting for DOVA’s future growth? Take a look at ourfree research report of analyst consensusfor DOVA’s outlook. 2. Financial Health: Are DOVA’s operations financially sustainable? Balance sheets can be hard to analyze, which is why we’ve done it for you. Check out ourfinancial health checks here. 3. Other High-Performing Stocks: Are there other stocks that provide better prospects with proven track records? Explore ourfree list of these great stocks here. 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.
Céline Dion Dazzles With Her Killer Legs at Paris Couture Week Naturally, Céline Dion has whipped through a dizzying lineup of extraordinary fashion moments at Paris Couture this week. And while each elaborate confection is more awe-inspiring than the next, her latest look—debuted ahead of the Alexandre Vauthier show this afternoon—caused heads to swivel even more than usual. At first blush, Dion's off-the-shoulder ivory gown appeared to cover the lower half of her frame with its extreme draping. But when she lifted her billowy sleeves to the side, the frock's mini-skirted hemline—and her impossibly toned legs—were revealed to stunning effect. The secret behind her sculpted limbs? At 51, the Québécoise singer and mother of three maintains her sinewy physique by dancing ballet with her backup dancer Pepe Muñoz. “We stretch and we do the barre, we kind of improv," she explained during a press conference announcing that she was L'Oréal Paris's newest spokeswoman back in April. "I do this four times a week. I’m working hard, but I like to move!” Her feel-good workout delivering undeniable results, the French-Canadian superstar has never radiated more confidence. So here's to more fantastical design statements—and flashes of limb—from Dion as the week continues. See the videos. Originally Appeared on Vogue
Top ETF Events of Wall-Street's Decade-Best June The month of June was outstanding for Wall Street.SPDR S&P 500 ETF (SPY)(up 6.7%),SPDR Dow Jones Industrial Average ETF (DIA)(up 7%) andInvesco QQQ Trust (QQQ)(up 9.8%)— the big three ETFs delivered stellar performances. The S&P 500 had its best June since 1955 and the Dow logged its largest June percentage gainsince 1938. Dovish comments from the Fed were instrumental in driving the rally. Moreover, stocks suffered a lot in May due to renewed trade tensions, which resulted in cheaper valuation of stocks in June. Interestingly, a dovish Fed boosted every key asset class – stock, bond and gold. Against this backdrop, below we highlight a few ETF events that were the highlights of the month. Central Banks’ Dovish Comments As widely expected, the Fed stayed put in its latest meeting but has hinted at rate cuts this year. The central bank will now “closely monitor the implications of incoming information for the economic outlook.” Though the Fed acknowledged the economic wellbeing, it said that “uncertainties about this outlook have increased.” As a result, bond yields slumped with yield on benchmark treasury yield hovering around 2% at the mon-end – the half-yearly low.Invesco DB US Dollar Index Bullish FundUUP lost about 0.8% in the past month (as of Jun 28, 2019) (read: ETF Winners & Losers Post Fed Meet). Not only the Fed, the ECB also adopted a dovish stance. The ECB pushed back the timing of its first-rate hike in nearly eight years to the second half of 2020 at the earliest during its June meeting, thanks to global growth concerns and tepid inflation outlook. ECB president Draghi hinted that upcoming economic indicators point to persistent softness and the bank could add more stimulus, should the need arise (read: ECB Considers Further Stimulus: ETFs to Top & Flop). Dow’s Best Performance Since 1938 The Dow Jones posted its best June gain of 7.2% since 1938 when it soared 24.3%.Caterpillar (CAT),Apple (AAPL)andGoldman Sachs (GS)triggered this gain, rallying more than 12% each, per CNBC. The optimism over the resumption of U.S.-China trade talks in late June and a surge in oil price as well as a slew of deal activities led to the bounce (read: Best June for Stocks in Decades: 5 Best ETFs). Gold Rush Gold is often viewed as a safe-haven asset offering protection against financial risks, and performs well on heightened market volatility. Investors should note that the U.S. dollar is under pressure on a dovish central bank. Also, Iran has been accused of several oil tanker attacks near the Strait of Hormuz as well as stabbings in oil facilities and an airport in Saudi Arabi in recent months. Both factors bode well for gold investing and marked its biggest gain since June 2016.SPDR Gold SharesGLD was up 6.5% in June while gold mining ETFVanEck Vectors Gold Miners ETFGDX offered as high as 13.7% in the past month (read: Go for Safe-Haven ETFs Amid Rising Geopolitical Risks). Best One-Month Semiconductor Gain in More Than 8 Years Tech gave a moderate performance in June withTechnology Select Sector SPDR Fund (XLK)ratcheting up 10.5%. Semiconductors — one of the categories — benefited the most of this rally.VanEck Vectors Semiconductor ETF (SMH)added 12.3% in June, marking the largest one-month gain since September 2010. This is especially true given that semiconductors sprung in June surviving a 15.5% slump in May due to U.S.-China trade tensions. The news of Trump-Xi discussion in late June actually benefited the semi stocks. Most recently, Trump announced Huawei Technologies — which was on the Entity List — can buy from some U.S. suppliers again. However, gains of semiconductors were curtailed down by losses in the big tech names amid antitrust security fears in June (read: Trump Bans More Chinese Tech Companies: ETFs in Focus). Oil Rally Oil soared more than 9% in June on Middle East tensions.United States Oil Fund LPUSO andUnited States Brent Oil Fund LPBNO added about 9.6% and 7.2% in June. Saudi-led OPEC and Russia also extended the output cut deal by six to nine months at the end of the month.Energy Select Sector SPDR FundXLE advanced 7% in the past month. 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 >> Click to get this free reportApple Inc. (AAPL) : Free Stock Analysis ReportThe Goldman Sachs Group, Inc. (GS) : Free Stock Analysis ReportSPDR Dow Jones Industrial Average ETF (DIA): ETF Research ReportsUS Commodity Funds United States Oil Fund (USO): ETF Research ReportsEnergy Select Sector SPDR Fund (XLE): ETF Research ReportsVanEck Vectors Gold Miners ETF (GDX): ETF Research ReportsUnited States Brent Oil Fund LP (BNO): ETF Research ReportsTechnology Select Sector SPDR Fund (XLK): ETF Research ReportsInvesco DB US Dollar Index Bullish Fund (UUP): ETF Research ReportsVanEck Vectors Semiconductor ETF (SMH): ETF Research ReportsSPDR Gold Shares (GLD): ETF Research ReportsInvesco QQQ (QQQ): ETF Research ReportsSPDR S&P 500 ETF (SPY): ETF Research ReportsCaterpillar Inc. (CAT) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Best Grocery Stores for Your Fourth of July Weekend Cookout Consumer Reports has no financial relationship with advertisers on this site. Consumer Reports has no financial relationship with advertisers on this site. Rather than toss any old burgers and dogs on the grill this July 4th weekend, take a minute to think about where you’ll buy your cookout fixings. In addition to fresh food for grilling, you might want to add prepared items, such as potato salad, coleslaw, and even deli sandwiches, to your menu. Finding what you want won’t be difficult if you go to one of the grocery stores and supermarkets highly rated by Consumer Reports . Recently, CR surveyed more than 75,000 CR members who told us about more than 140,000 grocery-store visits they made. From those results, we arrived at ratings for 96 grocers across the country, including regional chains and national retailers. For great and fresh store-prepared food—the kind you’ll want to say is homemade—regional retailers tend to do better than national chains. In fact, only two national chains, Costco and Whole Foods Market, get better-than-average scores in the category. Here are the winning purveyors of fresh store-prepared food around the country. Texas-Based Central Market Shines If you live in a major Texas metro area, Central Market is the go-to place for freshly prepared Independence Day fare. Through Tuesday, July 2, for instance, the 10-store grocer is taking $1 off its hormone-free whole rotisserie chicken, which it says was raised in Texas on an all-natural diet. Also on offer: cheese-topped, twice-baked potatoes, two for $5 (49 cents off). For an Asian twist on the holiday, the market is selling vegan asparagus rolls, made fresh daily, for $5.99 each, a $2 discount. Central Market, whose motto is “Really Into Food,” includes a recipe section on its website that currently features French poppers , baked jalapeno halves filled with Brie, dried apricot, and smoked duck bacon. (And if you're seeking entertainment before the fireworks, the Austin North Lamar store is featuring world music by Grupo Massa on the patio from 6:30 p.m. until 9 p.m.) Story continues Central Market, a subsidiary of the supermarket chain H-E-B, ranked among the top scorers in our overall supermarket and grocery store ratings. In addition to earning accolades for its fresh store-prepared foods, it got top marks for store cleanliness; helpfulness and attentiveness of employees; quality of its store brand, produce, meats, and poultry; produce variety; selection of healthy options; selection of locally produced products; and variety of international products. Wegmans Rules in the Northeast Wegmans, based on the East Coast, also got a top mark for fresh store-prepared foods. The Wegmans Independence Day party menu this year includes an “EZ Antipasti Tray” of sliced cheeses, salami, olives, and tomatoes; a ready-to-cook bone-in Peruvian-style half chicken; grill-ready cracked pepper burgers ( irradiated ); cold baked potato salad; and a blueberry crostata for four, studded with slivered toasted almonds. In our ratings, Wegmans is on a par with Central Market for overall satisfaction. While it earned many of the same top scores as Central Market, it did better on competitiveness of prices and checkout speed but not quite as well on store-brand quality. Gelson's: Best in the West Gelson’s, based in Southern California, has chopped $2 off its sriracha grilled shrimp skewers (now $2.99 for a four-shrimp stick), and $2 off an eight-piece crispy fried chicken, now $7.99 for Fourth of July backyard revelers. The market also has deals on beverages, condiments, paper goods, and other cookout necessities, through July 9 . The gourmet chain is making its first appearance in Consumer Reports’ supermarket ratings, with commendable or top marks in most categories, but not for prices. (Check out which of the 96 stores in our ratings did best for price .) The Fresh Market's Take on Grilling The Fresh Market is promoting its made-in-store gourmet burgers and grill-ready kabobs for holiday cookouts. The chain, which is based in Greensboro, N.C., with more than 170 outposts in 24 states, earned our highest mark for quality of meats and poultry. The Fresh Market also gets a top score for its fresh store-prepared food. For Thursday's cookout, the retailer suggests store-made deli side dishes such as lemon farfalle salad with pistachio and spinach, blue cheese potato salad, and pepper vinegar slaw. For dessert: red, white and blue cheesecake—or other baked goods decorated in Old Glory colors. The Fresh Market, which got a commendable overall satisfaction score, also excelled in store cleanliness and checkout speed. Lunds & Byerlys' Minnesota Menu The Lunds & Byerlys website displays several do-it-yourself recipes for holiday grilling. Those who prefer lounging to laboring can select a main course from Butchers Kitchen, which the grocer describes as "a collection of fresh, meat-centric items created and assembled fresh in our stores." Through July 3 , featured Butchers Kitchen fare includes bacon cheddar pub beef burgers, $2.99 for a 6-ounce patty (a $1 discount), and Italian marinated chicken kabobs, $4.99 for 5 ounces, a $1 price cut. The fresh store-prepared foods at Lunds & Byerlys, which is based in the Minneapolis-St. Paul area, got raves from the members we surveyed, as did its store cleanliness, the helpfulness and attentiveness of employees, checkout speed, and the quality of its produce, meat, and poultry. Make Your Cookout Memorable Wherever you shop, be sure to follow Consumer Reports’ food-safety tips for summer cookouts, including info on how to use a meat thermometer, store cold dishes such as potato salad, and clean up properly. And take advantage of our advice on keeping mosquitoes and ticks away and using sunscreen the right way. More from Consumer Reports: Top pick tires for 2016 Best used cars for $25,000 and less 7 best mattresses for couples Consumer Reports is an independent, nonprofit organization that works side by side with consumers to create a fairer, safer, and healthier world. CR does not endorse products or services, and does not accept advertising. Copyright © 2019, Consumer Reports, Inc.
Ripple Pledges $500 Million to ‘Create Real Use Cases for XRP’ In under 12 months, according to Ethan Beard, an executive at Xpring, an initiative created to improve the Ripple ecosystem and create use cases around XRP, Ripple has committedmore than $500 million. In the upcoming months, Beard stated that Xpring will invest in various open source protocols, developer projects, and large scale partnerships related to XRP to develop more “real use cases for XRP”. Throughout the past several months, despite positive developments and deals especially in the Asia crypto market, the price of XRP, the native crypto asset on Ripple’s blockchain network, has been stagnant in comparison to other crypto assets like bitcoin. Speaking to publications at Fortune’s Brainstorm Finance conference in New York, Ripple CEO Brad Garlinghouse said that the launch of Libra catalyzed contract activity, creating a record week for Ripple in regard to contract signings. Last month, the Libra Association, a Switzerland-based consortium founded by major conglomerates in the likes of Facebook, Mastercard, and Visa created a crypto asset called Libra backed by real-world assets. Read the full story on CCN.com.
How Much Are NV5 Global, Inc. (NASDAQ:NVEE) Insiders Taking Off The Table? 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. The flip side of that is that there are more than a few examples of insiders dumping stock prior to a period of weak performance. So before you buy or sellNV5 Global, Inc.(NASDAQ:NVEE), you may well want to know whether insiders have been buying or selling. It's quite normal to see company insiders, such as board members, trading in company stock, from time to time. However, such insiders must disclose their trading activities, and not trade on inside information. 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 Columbia Universitystudyfound that 'insiders are more likely to engage in open market purchases of their own company’s stock when the firm is about to reveal new agreements with customers and suppliers'. Check out our latest analysis for NV5 Global The Chairman & CEO, Dickerson Wright, made the biggest insider sale in the last 12 months. That single transaction was for US$15m worth of shares at a price of US$79.00 each. So it's clear an insider wanted to take some cash off the table, even below the current price of US$82.26. As a general rule we consider it to be discouraging when insiders are selling below the current price, because it suggests they were happy with a lower valuation. While insider selling is not a positive sign, we can't be sure if it does mean insiders think the shares are fully valued, so it's only a weak sign. We note that the biggest single sale was only 8.7% of Dickerson Wright's holding. In the last twelve months insiders netted US$19m for 251k shares sold. NV5 Global insiders didn't buy any shares over the last year. You can see the insider transactions (by individuals) over the last year depicted in the chart below. If you want to know exactly who sold, for how much, and when, simply click on the graph below! I will like NV5 Global better if I see some big insider buys. While we wait, check out thisfreelist of growing companies with considerable, recent, insider buying. Over the last three months, we've seen significant insider selling at NV5 Global. In total, insiders sold US$3.4m worth of shares in that time, and we didn't record any purchases whatsoever. In light of this it's hard to argue that all the insiders think that the shares are a bargain. Looking at the total insider shareholdings in a company can help to inform your view of whether they are well aligned with common shareholders. We usually like to see fairly high levels of insider ownership. It's great to see that NV5 Global insiders own 19% of the company, worth about US$197m. This kind of significant ownership by insiders does generally increase the chance that the company is run in the interest of all shareholders. Insiders sold NV5 Global shares recently, but they didn't buy any. And there weren't any purchases to give us comfort, over the last year. While insiders do own a lot of shares in the company (which is good), our analysis of their transactions doesn't make us feel confident about the company. Therefore, you should should definitely take a look at thisFREEreport showing analyst forecasts for NV5 Global. But note:NV5 Global may not be the best stock to buy. So take a peek at thisfreelist of interesting companies with high ROE and low debt. 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.
Scotch Whisky Association urges U.S. and EU to end trade stand-off LONDON (Reuters) - The Scottish government and the Scotch Whisky Association (SWA) urged the United States and the EU on Tuesday to end a trade dispute after Washington threatened tariffs on $4 billion of goods including Scotland's most famous export. The U.S. increased the pressure on Europe on Monday when it threatened tariffs on $4 billion of additional EU goods, including olives, Italian cheese and Scotch whisky. "Exports of Scotch Whisky to the US have been zero-tariff for 20 years so it is disappointing that (it) has been drawn into this dispute," an SWA spokesman said. "The Scotch Whisky industry has consistently opposed the imposition of tariffs, which harms economies on both sides of the Atlantic which depend on trade for their continued prosperity ... We continue to urge the UK government, the EU and the US government to resolve this situation." Whisky exports were worth 4.7 billion pounds ($5.7 billion)to Britain in 2018, its biggest food and drink export ahead of salmon, chocolate and cheese. The United States was by far the industry's biggest export market, with a value of just over 1 billion pounds. The industry is dominated by multinationals like Diageo and Pernod Ricard and has been an export sector for centuries. Scotland, home to two of the golf courses owned by U.S. President Donald Trump, has over 120 malt and grain distilleries, giving it the greatest concentration of whisky production in the world. Scotland's devolved government said it was "deeply concerned" that Scotch whisky was being implicated in the dispute. We are calling on the UK government to make urgent representations to the EU to ensure that Scotch Whisky is not collateral damage to this long-term dispute between the EU and the U.S., a spokesman said. (Reporting by Alistair Smout and Kate Holton; additional reporting by Guy Faulconbridge and James Davey; editing by Stephen Addison)
IBM Is Set to Join Exclusive Group of Dividend Aristocrats (Bloomberg) -- Here’s some good news for beleaguered International Business Machines Corp. investors: it’s about to become an aristocrat. Dividend forecasts compiled by Bloomberg show that the technology giant is poised to join the list of so-called Dividend Aristocrats, companies that have increased their dividend in 25 consecutive years, in 2020. The ascendancy to dividend royalty comes amid a five-year slide in IBM’s stock price that has seen it pare 26% of its value. Getting added to the elite list will force funds that track Dividend Aristocrats, such as the ProShares S&P 500 Dividend Aristocrats exchange traded fund, to purchase shares of the Armonk, New York-based company. IBM would join Automatic Data Processing Inc. as only the second information technology firm on the 57 company list. The addition would boost the weight of the information technology sector in the group to match that of energy companies. Dividend Update Looking beyond the aristocrats, energy firms were the biggest contributors to dividend growth in the second quarter of 2019, according to Bloomberg specialists. Cabot Oil & Gas Corp., Diamondback Energy Inc., Kinder Morgan Inc. and EOG Resources Inc. had quarter over quarter dividend increases greater than 25% contributing to the sector’s 6% quarter over quarter growth. Key Insights Bloomberg doesn’t projects any sector to out gain its third quarter 2017 or 2018 quarterly dividend growthFinancials are expected to see the pace of growth drop to 5.5% from 12.4% in 3Q 2018.Among aristocrats, Bloomberg’s projected 12 month dividend yield is expected to reach 6.02% for AbbVie Inc. and 6.16% at AT&T Inc.The projected dividend yield on the KBW Bank Index surpassed the yield on the Dow Jones Utility Average a week ago for the first time since February 2009, according to data compiled by Bloomberg13 of the 24 companies in KBW’s index are expected to raise dividends or say they will consider doing so after the latest Federal Reserve stress tests --With assistance from Jessica Beatus, Christopher Rung and Zhuo Zhang. To contact the reporter on this story: Alex Tanzi in Washington at atanzi@bloomberg.net To contact the editors responsible for this story: Alex Tanzi at atanzi@bloomberg.net, Brandon Kochkodin For more articles like this, please visit us atbloomberg.com ©2019 Bloomberg L.P.
Here's Why I Think TriCo Bancshares (NASDAQ:TCBK) Is An Interesting Stock Want to participate in ashort research study? Help shape the future of investing tools and you could win a $250 gift card! Like a puppy chasing its tail, some new investors often chase 'the next big thing', even if that means buying 'story stocks' without revenue, let alone profit. And in their study titledWho Falls Prey to the Wolf of Wall Street?'Leuz et. al. found that it is 'quite common' for investors to lose money by buying into 'pump and dump' schemes. In contrast to all that, I prefer to spend time on companies likeTriCo Bancshares(NASDAQ:TCBK), which has not only revenues, but also profits. Even if the shares are fully valued today, most capitalists would recognize its profits as the demonstration of steady value generation. In comparison, loss making companies act like a sponge for capital - but unlike such a sponge they do not always produce something when squeezed. Check out our latest analysis for TriCo Bancshares As one of my mentors once told me, share price follows earnings per share (EPS). That makes EPS growth an attractive quality for any company. TriCo Bancshares managed to grow EPS by 10% per year, over three years. That growth rate is fairly good, assuming the company can keep it up. One way to double-check a company's growth is to look at how its revenue, and earnings before interest and tax (EBIT) margins are changing. Not all of TriCo Bancshares's revenue this year is revenuefrom operations, so keep in mind the revenue and margin numbers I've used might not be the best representation of the underlying business. TriCo Bancshares maintained stable EBIT margins over the last year, all while growing revenue 24% to US$282m. That's a real positive. In the chart below, you can see how the company has grown earnings, and revenue, over time. To see the actual numbers, click on the chart. The trick, as an investor, is to find companies that aregoing toperform well in the future, not just in the past. To that end, right now and today, you can checkour visualization of consensus analyst forecasts for future TriCo Bancshares EPS100% free. It makes me feel more secure owning shares in a company if insiders also own shares, thusly more closely aligning our interests. So it is good to see that TriCo Bancshares insiders have a significant amount of capital invested in the stock. Notably, they have an enormous stake in the company, worth US$111m. This suggests to me that leadership will be very mindful of shareholders' interests when making decisions! One positive for TriCo Bancshares is that it is growing EPS. That's nice to see. Just as polish makes silverware pop, the high level of insider ownership enhances my enthusiasm for this growth. That combination appeals to me, for one. So yes, I do think the stock is worth keeping an eye on. Now, you could try to make up your mind on TriCo Bancshares by focusing on just these factors,oryou couldalsoconsider how its price-to-earnings ratio compares to other companies in its industry. You can invest in any company you want. But if you prefer to focus on stocks that have demonstrated insider buying, here isa list of companies with insider buying in the last three months. Please note the insider transactions discussed in this article refer to reportable transactions in the relevant jurisdiction We aim to bring you long-term focused research analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material.If you spot an error that warrants correction, please contact the editor ateditorial-team@simplywallst.com. This article by Simply Wall St is general in nature. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Simply Wall St has no position in the stocks mentioned. Thank you for reading.
Canada aboriginal pipe dream might end Trudeau's Trans Mountain nightmare By Nia Williams and Rod Nickel CALGARY, Alberta/WINNIPEG, Manitoba (Reuters) - An indigenous-led group plans to offer to buy a majority stake in the Trans Mountain oil pipeline from the Canadian government this week or next, a deal that could help Prime Minister Justin Trudeau mitigate election-year criticism from environmentalists. The group, called Project Reconciliation, aims to submit the C$6.9 billion ($5.26 billion) offer as early as Friday, managing director Stephen Mason told Reuters, and start negotiations with Ottawa two weeks later. Project Reconciliation said the investment will alleviate First Nations poverty, a watershed for indigenous people who have historically watched Canada's resources enrich others. Expansion would triple capacity of the pipeline carrying crude from Alberta to British Columbia's coast, helping resuscitate an industry depressed by low prices and congested pipelines. Trudeau's government, which bought the pipeline last year after its owner, Kinder Morgan Canada, gave up on trying to get the expansion approved, has already been touting First Nations participation. A deal ahead of an October election could ease criticism from voters who have complained of broken promises on the environment and aboriginal rights. Still, not all First Nations groups are on board. Some in British Columbia have pledged to keep fighting expansion of Trans Mountain, even with blockades and protests, saying ownership makes no difference to the risk of oil leaks. "The greatest hope the government can have is they neutralize this topic. Imagine if a multinational gets ownership of the pipeline, or an indigenous consortium. The indigenous (option) is way less provocative," said Ken Coates, professor of public policy at University of Saskatchewan. When Trudeau approved the pipeline in June, he said his government would immediately consult indigenous communities on how they can benefit, including potentially buying the pipeline. Story continues Mason declined to say how many communities support Project Reconciliation. "There is a vocal minority (against the project). The majority are in favor especially if they have material ownership and a place at the table that allows them to be involved with environmental aspects," Mason said. "If we own it, chances are we can quiet down the opposition." Project Reconciliation hopes to buy 51% of the pipeline this year for C$2.3 billion and roughly half the expansion project for C$4.6 billion. It would finance the deal through bank loans underwritten by commitments from oil shippers. The government would retain 49 percent. Once expansion is complete, it intends to invest C$200 million of annual proceeds into an indigenous sovereign wealth fund. "We have conversations about climate change. But tell me at what level climate change is a discussion when we have a lot of our people who are starving," Delbert Wapass, Project Reconciliation's executive chairman told a packed crowd at Calgary's Petroleum Club. FOR AND AGAINST Indigenous people who support buying Trans Mountain say it offers a rare opportunity to own money-making oil infrastructure. Before Chief Tony Alexis was born, Trans Mountain was built underground on Alexis Nakota Sioux Nation traditional land near Edmonton, Alberta, where the pipeline starts. In the 66 years since, the community has received no benefits, Chief Alexis said, only risk. Now it could cash in. "Our people have been ready to be in business for a long time," Alexis said. "If we do this right, this is going to be a template for the future." Alexis is part of Iron Coalition, another indigenous group seeking to buy between half and 100% of the pipeline once it is built in 2022. It is discussing options with banks and plans to direct future profits to Alberta indigenous groups that join. At the other end of the pipeline 1,150 kilometers (715 miles) away, British Columbia indigenous communities are digging in for a fight. "Our sacred obligation is that we are stewards of this land, this water and our people," said Chief Leah George-Wilson of Tsleil-Waututh First Nation, based along Burrard Inlet opposite Westridge Marine Terminal where Trans Mountain ends. Tsleil-Waututh plans to appeal Trudeau's approval of Trans Mountain's expansion over concerns about spills and tanker traffic, George-Wilson said. Coates, the University of Saskatchewan professor, said indigenous participation in the pipeline could allow Trudeau's Liberals to retain more urban votes that will be critical to the election's outcome. The government is already promoting Trans Mountain as a means to improve aboriginal lives. "Meaningful economic participation by indigenous peoples is an important way to respect ... people who are actually impacted along the line," Finance Minister Bill Morneau said last month. Conservatives have not decided how they would sell the pipeline if they win the election, said MP Shannon Stubbs of Alberta who has criticized the government over natural resources issues. The Alberta provincial government said it welcomed interest from indigenous communities in becoming partners in the energy sector. British Columbia opposes the pipeline expansion, however, and Environment Minister George Heyman said indigenous ownership would not change its concerns about spills. Opponents are planning litigation, blockades and protests, said Grand Chief Stewart Phillip of the Union of BC Indian Chiefs. "Who owns the pipeline is not the issue. It's what goes through the pipeline," he said. ($1 = 1.3114 Canadian dollars) (Reporting by Rod Nickel in Winnipeg, Manitoba and Nia Williams in Calgary, Alberta; Editing by David Gregorio)
Facebook Relaxes Cannabis Ad Policy Just A Tad Facebook, Inc.(NASDAQ:FB) eased its policy on CBD companies advertising on its platform ever so slightly,according to a June 26 report from Digiday. Facebook never specifically called out CBD or ingestible hemp as products companies can't advertise, which created some frustration among CBD brands. An agency source close to Facebook told Digiday companies will now be allowed to advertise topical hemp campaigns so long as it directs the user to pages that feature either ingestible hemp or topical CBD. Advertising campaigns still aren't allowed to specifically feature the products and there is no guarantee that ads which follow Facebook's guidelines will be approved in the first place. “Our policy remains the same: We don’t allow people to promote CBD or ingestible hemp on Facebook. The update to non-ingestible hemp was made months ago,” a Facebook spokesperson told DigiDay after its article was published. See Also:CBD Is Invading Over-The-Counter Retail Stores - And Consumers Love It "Facebook more than ever is having more and more of their reps saying they need placement so they're going to be forced to clarify," Andrew Hemmingway, president of Toasted Collective, told Digiday. "A lot of these companies are selling hemp-derived and primarily they're selling creams, rubs, patches, but Facebook had been staying completely away from it." Analysts at Cowen estimated in a May report that CBD users will expand to 10% of the U.S. adult population which equates to 25 million consumers. Need more cannabis news?Check out all of our coverage here. See more from Benzinga • Analyst Incrementally Bullish On EA After 'Apex' Season 2 Launch • Nordstrom's Outlook Is 'Deteriorating,' UBS Says In Downgrade • Anheuser Busch Inbev Preps Biggest IPO Of 2019 In Hong Kong © 2019 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
How Many Neenah, Inc. (NYSE:NP) Shares Have Insiders Sold, In The Last Year? Want to participate in a short research study ? Help shape the future of investing tools and you could win a $250 gift card! We've lost count of how many times insiders have accumulated shares in a company that goes on to improve markedly. The flip side of that is that there are more than a few examples of insiders dumping stock prior to a period of weak performance. So shareholders might well want to know whether insiders have been buying or selling shares in Neenah, Inc. ( NYSE:NP ). What Is Insider Buying? It's quite normal to see company insiders, such as board members, trading in company stock, from time to time. However, rules govern insider transactions, and certain disclosures are required. 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. As Peter Lynch said, 'insiders might sell their shares for any number of reasons, but they buy them for only one: they think the price will rise.' Check out our latest analysis for Neenah Neenah Insider Transactions Over The Last Year In the last twelve months, the biggest single sale by an insider was when the Principal Accounting Officer, Lawrence Brownlee, sold US$313k worth of shares at a price of US$62.52 per share. So it's clear an insider wanted to take some cash off the table, even below the current price of US$67.00. As a general rule we consider it to be discouraging when insiders are selling below the current price, because it suggests they were happy with a lower valuation. However, while insider selling is sometimes discouraging, it's only a weak signal. This single sale was just 23% of Lawrence Brownlee's stake. We note that in the last year insiders divested 15082 shares for a total of US$1.1m. Neenah insiders didn't buy any shares over the last year. You can see the insider transactions (by individuals) over the last year depicted in the chart below. By clicking on the graph below, you can see the precise details of each insider transaction! Story continues NYSE:NP Recent Insider Trading, July 2nd 2019 If you like to buy stocks that insiders are buying, rather than selling, then you might just love this free list of companies. (Hint: insiders have been buying them). Neenah Insiders Are Selling The Stock Over the last three months, we've seen significant insider selling at Neenah. In total, Lawrence Brownlee dumped US$313k worth of shares in that time, and we didn't record any purchases whatsoever. In light of this it's hard to argue that all the insiders think that the shares are a bargain. Insider Ownership of Neenah 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. It appears that Neenah insiders own 1.6% of the company, worth about US$18m. We've certainly seen higher levels of insider ownership elsewhere, but these holdings are enough to suggest alignment between insiders and the other shareholders. So What Do The Neenah Insider Transactions Indicate? An insider sold Neenah shares recently, but they didn't buy any. And even if we look to the last year, we didn't see any purchases. While insiders do own shares, they don't own a heap, and they have been selling. We're in no rush to buy! Of course, the future is what matters most . So if you are interested in Neenah, you should check out this free report on analyst forecasts for the company . But note: Neenah may not be the best stock to buy . So take a peek at this free list of interesting companies with high ROE and low debt. 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 at editorial-team@simplywallst.com . This article by Simply Wall St is general in nature. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Simply Wall St has no position in the stocks mentioned. Thank you for reading.
7 July 4th Quotes to Celebrate Independence Day 2019 What are some of your favorite July 4th quotes that commemorate what the United States of America is about as we get closer to Independence Day 2019? July 4th Quotes Source: Pixabay We are only two days away from one of the most important days in our countrys history, which commemorates our independence from the United Kingdom in 1776. In honor of the day, we are bringing you seven quotes that best represent July 4th, as well as the spirit of our nation. Check these out over the next few slides, pick your favorite and share it with your friends, family and loved ones. InvestorPlace - Stock Market News, Stock Advice & Trading Tips July 4 Quotes July 4 Quotes Source: Pexel July 4 Quotes July 4th Source: Fickr July 4 Quotes Quotes Source: Flickr July 4 Quotes July 4 July 4 Quotes July 4 Source: Wikipedia July 4 Quotes July 4th Source: Pixabay July 4 Quotes July 4th Quotes Source: Flickr More From InvestorPlace The Top 8 Tech Stocks of 2019 (So Far) The 7 Top Small-Cap Stocks Of 2019 7 F-Rated Stocks to Sell for Summer 7 Stocks to Buy for a Dovish Fed The post 7 July 4th Quotes to Celebrate Independence Day 2019 appeared first on InvestorPlace .
At US$209, Is Bio-Techne Corporation (NASDAQ:TECH) Worth Looking At Closely? Want to participate in ashort research study? Help shape the future of investing tools and you could win a $250 gift card! Bio-Techne Corporation (NASDAQ:TECH), which is in the life sciences business, and is based in United States, saw a decent share price growth in the teens level on the NASDAQGS over the last few months. With many analysts covering the mid-cap stock, we may expect any price-sensitive announcements have already been factored into the stock’s share price. But what if there is still an opportunity to buy? Today I will analyse the most recent data on Bio-Techne’s outlook and valuation to see if the opportunity still exists. See our latest analysis for Bio-Techne Bio-Techne appears to be overvalued according to my relative valuation model. In this instance, I’ve used the price-to-earnings (PE) ratio given that there is not enough information to reliably forecast the stock’s cash flows. I find that Bio-Techne’s ratio of 65.08x is above its peer average of 39.84x, which suggests the stock is overvalued compared to the Life Sciences industry. If you like the stock, you may want to keep an eye out for a potential price decline in the future. Since Bio-Techne’s share price is quite volatile, this could mean it can sink lower (or rise even further) in the future, giving us another chance to invest. This is based on its high beta, which is a good indicator for how much the stock moves relative to the rest of the market. Investors looking for growth in their portfolio may want to consider the prospects of a company before buying its shares. Buying a great company with a robust outlook at a cheap price is always a good investment, so let’s also take a look at the company's future expectations. With profit expected to grow by 22% over the next couple of years, the future seems bright for Bio-Techne. It looks like higher cash flow is on the cards for the stock, which should feed into a higher share valuation. Are you a shareholder?TECH’s optimistic future growth appears to have been factored into the current share price, with shares trading above its fair value. At this current price, shareholders may be asking a different question – should I sell? If you believe TECH should trade below its current price, selling high and buying it back up again when its price falls towards its real value can be profitable. But before you make this decision, take a look at whether its fundamentals have changed. Are you a potential investor?If you’ve been keeping tabs on TECH for some time, now may not be the best time to enter into the stock. The price has surpassed its industry peers, which means it is likely that there is no more upside from mispricing. However, the positive outlook is encouraging for TECH, which means it’s worth diving deeper into other factors in order to take advantage of the next price drop. Price is just the tip of the iceberg. Dig deeper into what truly matters – the fundamentals – before you make a decision on Bio-Techne. You can find everything you need to know about Bio-Techne inthe latest infographic research report. If you are no longer interested in Bio-Techne, you can use our free platform to see my list of over50 other stocks with a high growth potential. 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.
Why Megan Rapinoe did not sing US national anthem before Women’s World Cup game against Thailand United States forward Megan Rapinoe raised eyebrows on Tuesday evening when she decided against singing the national anthem ahead of the country’s opening Women’s World Cup match against Thailand. Unlike the rest of her team-mates, Rapinoe did not sing along to the Star-Spangled Banner and did not raise her hand to her heart. Her decision not to sing the anthem resulted in a predictable slew of negative comments on social media – but Rapinoe’s stance is not new. In 2016, she became the first white athlete to kneel during the national anthem before a sporting event, following former NFL player Colin Kaepernick ’s decision to begin protesting against racial injustice and systematic oppression in the United States. And last month she told Yahoo Sports that she would “probably never sing the national anthem again.” In the interview, Rapinoe explained that she was disappointed with the national conversation that stemmed from her decision to take a knee, as well as taking umbrage with the United States Soccer Federation’s decision to adopt a rule requiring players to “stand and honor the flag.” “Using this blanketed patriotism as a defense against what the protest actually is was pretty cowardly. I think the NFL does it,” she told Yahoo. “I felt like the statement from U.S. Soccer, and then the rule they made without ever talking to me, that was the same as what the NFL was doing – just to not have the conversation, to try to just stop me from doing what I’m doing instead of at least having a conversation, and trying to figure out a [solution] that makes sense for everyone.” Rapinoe’s decision not to join her team-mates in singing the anthem certainly did not affect her form. She scored the USA’s ninth goal as they ran out 13-0 winners against Thailand .
GTT Communications's M&A Integration Beset By 'Miscues,' KeyBanc Says In Downgrade GTT Communications Inc (NYSE: GTT ) is facing speedbumps in its journey toward integration of the Interoute acquisition and capitalizing on organic growth opportunities, according to KeyBanc Capital Markets. The Analyst Brandon Nispel downgraded GTT Communications from Overweight to Sector Weight. The Thesis While GTT Communications was expected to quickly integrate the Interoute acquisition and achieve synergies of at least $100 million, there have been “several operation miscues” in this process, Nispel said in the Monday downgrade note. (See his track record here.) The company was expected to continue focusing on M&A in a bid to consolidate a $100-billion market, the analyst said, adding that GTT has not made an acquisition since the fourth quarter of 2018. The successful integration of the Interoute acquisition would have allowed GTT Communications to increase its salesforce and productivity to drive organic growth through up-selling and cross-selling efforts, Nispel said. The company's organic growth continues to be disappointing, he said. While investors have been focusing on organic growth, KeyBanc’s jobs data suggests continued softness in hiring activity, indicating that the company’s rep growth will at best be in-line with expectations, the analyst said. KeyBanc reduced its revenue estimates for 2019 and 2020 from $1.804 billion to $1.791 billion and from $1.845 billion to $1.786 billion, respectively, to reflect lower productivity expectations. Price Action GTT Communications shares were down 4.26% at $18 at the time of publication Tuesday. Related Links: 60 Biggest Movers From Yesterday Mid-Morning Market Update: Markets Edge Lower; Greenbrier Misses Q3 Expectations Latest Ratings for GTT Jul 2019 Downgrades Overweight Sector Weight Mar 2019 Maintains Overweight Overweight Dec 2018 Maintains Outperform Outperform View More Analyst Ratings for GTT View the Latest Analyst Ratings See more from Benzinga Enbridge Analyst Sees Risks In Pipeline Projects, Downgrades Stock Wedbush Stays On The Sidelines With Square, Points To Margin Expansion Concerns Needham: Acacia Communications In Lead With Digital Signal Processing Development © 2019 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. View comments
EU's Tusk says of top jobs deal: "After all, Europe is a woman" BRUSSELS (Reuters) - European Council President Donald Tusk praised an agreement to assign two senior EU jobs on Tuesday to women for the first time. "After all, Europe is a woman," he told a news conference after three day of tortuous talks between 28 EU leaders on assigning the bloc's top jobs exposed their deepening divisions. Tusk said the appointment of Germany's Ursula von der Leyen to lead the next European Commission still needed approval from the European Parliament. He also said he was "absolutely sure" that France's Christine Lagarde would be an independent new head of the European Central Bank. (Reporting by Gabriela Baczynska; Editing by Gareth Jones)
How Much Of Seeka Limited (NZSE:SEK) Do Insiders Own? 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 Seeka Limited (NZSE:SEK) have power over the company. Generally speaking, as a company grows, institutions will increase their ownership. Conversely, insiders often decrease their ownership over time. I generally like to see some degree of insider ownership, even if only a little. As Nassim Nicholas Taleb said, 'Don’t tell me what you think, tell me what you have in your portfolio.' With a market capitalization of NZ$153m, Seeka is a small cap stock, so it might not be well known by many institutional investors. In the chart below below, we can see that institutional investors have bought into the company. Let's take a closer look to see what the different types of shareholder can tell us about SEK. See our latest analysis for Seeka Institutions typically measure themselves against a benchmark when reporting to their own investors, so they often become more enthusiastic about a stock once it's included in a major index. We would expect most companies to have some institutions on the register, especially if they are growing. We can see that Seeka does have institutional investors; and they hold 7.3% of the stock. This implies the analysts working for those institutions have looked at the stock and they like it. But just like anyone else, they could be wrong. If multiple institutions change their view on a stock at the same time, you could see the share price drop fast. It's therefore worth looking at Seeka's earnings history, below. Of course, the future is what really matters. We note that hedge funds don't have a meaningful investment in Seeka. While there is some analyst coverage, the company is probably not widely covered. So it could gain more attention, down the track. While the precise definition of an insider can be subjective, almost everyone considers board members to be insiders. The company management answer to the board; and the latter should represent the interests of shareholders. Notably, sometimes top-level managers are on the board, themselves. Most consider insider ownership a positive because it can indicate the board is well aligned with other shareholders. However, on some occasions too much power is concentrated within this group. Our most recent data indicates that insiders own a reasonable proportion of Seeka Limited. Insiders own NZ$25m worth of shares in the NZ$153m company. I would say this shows alignment with shareholders, but it is worth noting that the company is still quite small; some insiders may have founded the business. You canclick here to see if those insiders have been buying or selling. With a 47% ownership, the general public have some degree of sway over SEK. 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. We can see that Private Companies own 27%, of the shares on issue. 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. While it is well worth considering the different groups that own a company, there are other factors that are even more important. I like to dive deeperinto how a company has performed in the past. You can findhistoric revenue and earnings in thisdetailed graph. If you are like me, you may want to think about whether this company will grow or shrink. Luckily, you can checkthis free report showing analyst forecasts for its future. NB: Figures in this article are calculated using data from the last twelve months, which refer to the 12-month period ending on the last date of the month the financial statement is dated. This may not be consistent with full year annual report figures. We aim to bring you long-term focused research analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material.If you spot an error that warrants correction, please contact the editor ateditorial-team@simplywallst.com. This article by Simply Wall St is general in nature. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Simply Wall St has no position in the stocks mentioned. Thank you for reading.
The moon in 2069: Top space scientists share their visions for lunar lifestyles The European Space Agency’s vision for lunar settlement includes habitats shielded by piled-up moon dirt. (ESA / Foster + Partners Illustration) LAUSANNE, Switzerland — Fifty years ago this month, NASA’s Apollo 11 mission transformed the idea of putting people on the moon from science fiction to historical fact. Not much has changed on the moon since Apollo, but if the visions floated by leading space scientists from the U.S., Europe, Russia and China come to pass, your grandchildren might be firing up lunar barbecues in 2069. “Definitely in 50 years, there will be more tourism on the moon,” Anatoli Petrukovich, director of the Russian Academy of Sciences’ Space Research Institute , said here today during the World Conference of Science Journalists. “The moon will just look like a resort, as a backyard for grilling some meat or whatever else.” Wu Ji , former director general of the Chinese Academy of Sciences’ National Space Science Center, agreed that moon tourism could well be a thing in 2069. “People will go there for space holidays, and come back,” Wu said. “The staff of the hotel will work there. So that will be permanent human habitability on the moon in 50 years.” “Robotic staff?” Petrukovich asked. “No, not necessarily,” Wu answered. Today’s session in Lausanne, titled “The Moon and Beyond,” provided a status report on international space cooperation as well as speculative glimpses at the next 50 years of space exploration. Petrukovich and Wu were joined in their flights of fancy by Thomas Zurbuchen , associate administrator of the Science Mission Directorate at NASA Headquarters; David Parker , the European Space Agency’s director of human and robotic exploration; and Lori Garver , a former NASA deputy administrator who now serves as CEO of the nonprofit Earthrise Alliance . Moderator Sarah Cruddas (left) oversees a discussion on future space exploration with panelists including the European Space Agency’s David Parker, NASA’s Thomas Zurbuchen, Chinese space scientist Wu Ji, Russian researcher Anatoli Petrukovich and Earthrise Alliance CEO Lori Garver. (GeekWire Photo / Alan Boyle) Bacik in the 1960s, the U.S. and Soviet space programs were driven by a Cold War race to the moon — and some high-ranking officials already see a second space race looming. ““We’re in a space race today, just as we were in the 1960s, and the stakes are even higher,” Vice President Mike Pence said in May when he announced that the United States would aim to put astronauts on the moon by 2024. Story continues But at today’s session, space scientists played down the prospects for a ’60s-style space race. “It’s not a race,” Petrukovich said, “but you see, political figures are like kids in a kindergarten. … Either nobody wants it, or everybody wants it. So it is a kind of race, but in this race, everybody is helping the neighbor.” Both Zurbuchen and Parker took advantage of the session to highlight their latest moves in space cooperation, including partnerships with commercial and academic space ventures. Zurbuchen touted this week’s announcement about 12 lunar experiments — including Astrobotic’s MoonRanger rover and Texas Tech University’s dirt-drilling LISTER probe — that would be put aboard commercial lunar landers in years to come. (LISTER is an acronym that also pays tribute to the late Clive Lister , a University of Washington professor who made important contributions to the study of heat flow through Earth’s ocean floors.) Parker announced that ESA’s 22 member states have authorized the agency to ask European companies for cost-specific proposals relating to the International Habitation Module for the moon-orbiting Gateway space platform that’s due to take shape in the 2020s, plus an Earth Return Orbiter that would bring samples back from Mars . Later in the day, Zurbuchen said in a tweet that he and Parker signed a joint statement of intent relating to science benefits from that sample return mission. What about China? Today, U.S. law places heavy restrictions on space cooperation with Beijing — but Wu made clear that he hoped that stance would soften in the years ahead. He explained that China’s solar-powered Chang’e-4 probe and its Yutu 2 rover can operate on the far side of the moon for only two weeks out of every month, due to the lunar night. “We hope that U.S. technology can send a nuclear power station there, and then people can work in the lunar night,” he said. In return, Wu said China was willing to make its Queqiao communications relay satellite available for future far-side lunar missions. “There’s no problem for China to collaborate with other countries, and we welcome other nations to use this relay satellite to help their landing on the far side,” he said. Wu said China plans to put astronauts on the moon eventually, but he acknowledged that NASA and its partners would get there first. He pointed out that it’ll take several years for China to build its own space station in Earth orbit. “That takes a lot of effort from us,” he said. “If we add a lunar landing on the moon, it’s not impossible, but it’s something in parallel with that.” So, will English be the moon’s official language 50 years from now? Will it be Chinese, or some new sort of international language? In a response to a question, Zurbuchen said he likes the idea of having a Star Trek-style universal translator that’s attached to a person’s ear and can instantly turn a phrase like, say, “One giant leap for mankind” into “人类的一次巨大飞跃.” “I actually think to get to that is a decade. … The language, I just don’t think on a time scale of 50 years is a problem,” he said. Garver, whose new nonprofit venture aims to use space imagery to raise awareness about earthly issues, had a different take on the 50-year question. She predicted that the moon was likely to have a status similar to that held by Antarctica today — as a place for scientific research and some tourism, but limited habitation. The biggest impact of the next 50 years of space exploration and observation could well be seen not on the moon or Mars, but on our original home planet. “I imagine that we will have solved our Earth-based problems,” she said, “partly through our knowledge that we’ve gained through the perspective of space.” GeekWire’s Alan Boyle helped organize today’s “Moon and Beyond” session at the World Conference of Science Journalists, and as a result, WCSJ funding is covering the bulk of his travel expenses to Lausanne. More from GeekWire: 50 years after first lunar landing, Apollo moonshots inspire a new blast of books 50 years after Apollo moonshots, will rivalry with China spark a new space race? Jeff Bezos unveils Blue Moon lunar lander and shares updated vision for Blue Origin Crowdfunding campaign lets you snag simulated moon dirt — but handle with care
Why Carolina Financial Corporation's (NASDAQ:CARO) High P/E Ratio Isn't Necessarily A Bad Thing Want to participate in a short research study ? Help shape the future of investing tools and you could win a $250 gift card! This article is written for those who want to get better at using price to earnings ratios (P/E ratios). We'll show how you can use Carolina Financial Corporation's ( NASDAQ:CARO ) P/E ratio to inform your assessment of the investment opportunity. Based on the last twelve months, Carolina Financial's P/E ratio is 12.93 . That means that at current prices, buyers pay $12.93 for every $1 in trailing yearly profits. View our latest analysis for Carolina Financial How Do I Calculate A Price To Earnings Ratio? The formula for price to earnings is: Price to Earnings Ratio = Price per Share ÷ Earnings per Share (EPS) Or for Carolina Financial: P/E of 12.93 = $35.23 ÷ $2.72 (Based on the trailing twelve months to March 2019.) Is A High Price-to-Earnings Ratio Good? A higher P/E ratio means that buyers have to pay a higher price for each $1 the company has earned over the last year. That isn't necessarily good or bad, but a high P/E implies relatively high expectations of what a company can achieve in the future. How Growth Rates Impact P/E Ratios Earnings growth rates have a big influence on P/E ratios. Earnings growth means that in the future the 'E' will be higher. That means unless the share price increases, the P/E will reduce in a few years. A lower P/E should indicate the stock is cheap relative to others -- and that may attract buyers. In the last year, Carolina Financial grew EPS like Taylor Swift grew her fan base back in 2010; the 78% gain was both fast and well deserved. And earnings per share have improved by 22% annually, over the last three years. So we'd absolutely expect it to have a relatively high P/E ratio. How Does Carolina Financial's P/E Ratio Compare To Its Peers? We can get an indication of market expectations by looking at the P/E ratio. The image below shows that Carolina Financial has a P/E ratio that is roughly in line with the banks industry average (12.9). Story continues NasdaqCM:CARO Price Estimation Relative to Market, July 2nd 2019 Its P/E ratio suggests that Carolina Financial shareholders think that in the future it will perform about the same as other companies in its industry classification. The company could surprise by performing better than average, in the future. Checking factors such as director buying and selling . could help you form your own view on if that will happen. Remember: P/E Ratios Don't Consider The Balance Sheet It's important to note that the P/E ratio considers the market capitalization, not the enterprise value. 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. Such spending might be good or bad, overall, but the key point here is that you need to look at debt to understand the P/E ratio in context. How Does Carolina Financial's Debt Impact Its P/E Ratio? Carolina Financial has net debt equal to 41% of its market cap. You'd want to be aware of this fact, but it doesn't bother us. The Bottom Line On Carolina Financial's P/E Ratio Carolina Financial has a P/E of 12.9. That's below the average in the US market, which is 18.2. 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. Investors have an opportunity when market expectations about a stock are wrong. If the reality for a company is not as bad as the P/E ratio indicates, then the share price should increase as the market realizes this. So this free report on the analyst consensus forecasts could help you make a master move on this stock. But note: Carolina Financial may not be the best stock to buy . So take a peek at this free list of interesting companies with strong recent earnings growth (and a P/E ratio below 20). We aim to bring you long-term focused research analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. If you spot an error that warrants correction, please contact the editor at editorial-team@simplywallst.com . This article by Simply Wall St is general in nature. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Simply Wall St has no position in the stocks mentioned. Thank you for reading.
ABC Fall Premiere Dates: Grey's, DWTS, The Conners, Good Doctor, The Rookie, Million Little Things and More Click here to read the full article. ABC is the final broadcast network to unveil its fall premiere game plan for the 2019-20 TV season (following CBS , NBC , The CW and Fox ), and a retooled Dancing With the Stars will kick things off on Monday, Sept. 16. DWTS returns with Season 28 after being MIA for nearly a year ( ABC opted to forego a spring cycle for the first time ). Last season’s No. 1 new comedy, The Conners , is back with an expanded second season on Tuesday, Sept. 24. The Roseanne spinoff leads off a revamped Tuesday lineup that includes the series premieres of black-ish spinoff mixed-ish and the Allison Tolman-led mystery drama Emergence . Related stories Fall TV Preview: Who's In? Who's Out? Our Guide to Every Casting Move So Far Fall TV Schedule 2019: What's on When? And Versus What? ABC Eyeing Weekly Grey's/Station 19 Crossovers -- Here's Why That's a Terrible, No Good, Very Bad Idea Meanwhile, the 11th and final season of Modern Family bows Wednesday, Sept. 25 (the same night as the debut of Cobie Smulders’ Stumptown ), and the Season 16 premiere of Grey’s Anatomy gets underway on Thursday, Sept. 26. Scroll down for a full rundown of ABC’s fall lineup, as well as what’s on tap for midseason — and a reminder of what’s already been cancelled. MONDAY, SEPT. 16 8 pm Dancing With the Stars MONDAY, SEPT. 23 10 pm The Good Doctor TUESDAY, SEPT. 24 8 pm The Conners 8:30 Bless This Mess 9 pm MIXED-ISH ( watch trailer ) 9:30 pm black-ish 10 pm EMERGENCE ( watch trailer ) WEDNESDAY, SEPT. 25 8 pm The Goldbergs 8:30 Schooled 9 pm Modern Family 9:30 pm Single Parents 10 pm STUMPTOWN ( watch trailer ) THURSDAY, SEPT. 26 8 pm Grey’s Anatomy 9 pm A Million Little Things 10 pm How to Get Away With Murder FRIDAY, SEPT. 27 8 pm American Housewife 8:30 pm Fresh Off the Boat 9 pm 20/20 SUNDAY, SEPT. 29 7 pm America’s Funniest Home Videos 9 pm Shark Tank 10 pm The Rookie Story continues SUNDAY, OCT. 6 8 pm KIDS SAY THE DARNDEST THINGS Fall TV Schedule 2018 American Idol , The Bachelor , THE BAKER AND THE BEAUTY , FOR LIFE , Marvel’s Agents of S.H.I.E.L.D. (Season 7), Station 19 , UNITED WE FALL Fall TV Schedule 2018 The Fix, For the People, The Kids Are Alright, Speechless, Splitting Up Together, Take Two and Whiskey Cavalier Sign up for TVLine's Newsletter . For the latest news, follow us on Facebook , Twitter , and Instagram .
Is It Too Late To Consider Buying Genworth MI Canada Inc. (TSE:MIC)? Want to participate in ashort research study? Help shape the future of investing tools and you could win a $250 gift card! Genworth MI Canada Inc. (TSE:MIC), operating in the financial services industry based in Canada, had a relatively subdued couple of weeks in terms of changes in share price, which continued to float around the range of CA$39.86 to CA$43.04. However, is this the true valuation level of the mid-cap? Or is it currently undervalued, providing us with the opportunity to buy? Let’s take a look at Genworth MI Canada’s outlook and value based on the most recent financial data to see if there are any catalysts for a price change. See our latest analysis for Genworth MI Canada Good news, investors! Genworth MI Canada is still a bargain right now. According to my valuation, the intrinsic value for the stock is CA$77.12, but it is currently trading at CA$41.44 on the share market, meaning that there is still an opportunity to buy now. Although, there may be another chance to buy again in the future. This is because Genworth MI Canada’s beta (a measure of share price volatility) is high, meaning its price movements will be exaggerated relative to the rest of the market. If the market is bearish, the company's shares will likely fall by more than the rest of the market, providing a prime buying opportunity. Future outlook is an important aspect when you’re looking at buying a stock, especially if you are an investor looking for growth in your portfolio. Buying a great company with a robust outlook at a cheap price is always a good investment, so let’s also take a look at the company's future expectations. Though in the case of Genworth MI Canada, it is expected to deliver a relatively unexciting earnings growth of 1.6%, which doesn’t help build up its investment thesis. Growth doesn’t appear to be a main reason for a buy decision for Genworth MI Canada, at least in the near term. Are you a shareholder?Even though growth is relatively muted, since MIC is currently undervalued, it may be a great time to accumulate more of your holdings in the stock. However, there are also other factors such as financial health to consider, which could explain the current undervaluation. Are you a potential investor?If you’ve been keeping an eye on MIC for a while, now might be the time to make a leap. Its future outlook isn’t fully reflected in the current share price yet, which means it’s not too late to buy MIC. But before you make any investment decisions, consider other factors such as the track record of its management team, in order to make a well-informed investment decision. Price is just the tip of the iceberg. Dig deeper into what truly matters – the fundamentals – before you make a decision on Genworth MI Canada. You can find everything you need to know about Genworth MI Canada inthe latest infographic research report. If you are no longer interested in Genworth MI Canada, you can use our free platform to see my list of over50 other stocks with a high growth potential. 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.
U.S. House panel sues Treasury, IRS over Trump's tax returns (Adds details and comment by Trump lawyer) By Susan Heavey WASHINGTON, July 2 (Reuters) - A Democratic-led U.S. House of Representatives panel on Tuesday filed a long-awaited lawsuit in federal court to demand President Donald Trump's individual and business tax returns. The House Ways and Means Committee filed the lawsuit against the U.S. Treasury Department and Internal Revenue Service after Treasury Secretary Steven Mnuchin refused a legal request for the records and defied two congressional subpoenas seeking the returns. The filing sounded the starting gun in what is widely expected to be a lengthy legal battle that is likely to end in the Supreme Court. There was no official comment from the Trump administration, but Trump attorney Jay Sekulow said: "We will respond to this latest effort at presidential harassment in court." Democrats want Trump's tax records from 2013 to 2018, which legal experts have said could shed light on the president's business dealings. Such a legal process, experts said, could unfold slowly and become an issue in the 2020 election. Mnuchin refused to hand over the returns after House Ways and Means Committee Chairman Richard Neal asked for the documents on April 3, under a federal law that says Treasury "shall furnish" such records upon request. The committee believes it is the first time an administration has denied such a request, the lawsuit said. "In refusing to comply with the statute, defendants have mounted an extraordinary attack on the authority of Congress to obtain information needed to conduct oversight of Treasury, the IRS, and the tax laws on behalf of the American people," the lawsuit said. Neal said in a statement that the panel was now pursuing the matter in court because of the administration's "noncompliance." "The judiciary has been a bulwark against Trump's steaming corruption and roughshod lawlessness. I have no doubt our lower courts will side with Congress," Representative Bill Pascrell, a Ways and Means Democrat who has helped lead the campaign to obtain Trump's returns, wrote on Twitter. Democrats who wanted Neal to move to court more quickly expressed relief at the filing. "This long-overdue legal action is needed to keep this bad president from setting a bad precedent," Representative Lloyd Doggett said in a statement. Congressional Republicans condemned the effort as a dangerous political fishing expedition by Democrats that could "weaponize" confidential taxpayer information. "The Democrats' partisan, flawed lawsuit continues their unprecedented and illegitimate pursuit to expose President Trump's private tax information," Representative Kevin Brady, the top Republican on Neal's committee, said in a statement. Ways and Means is one of half a dozen panels in the lower house that are conducting investigations involving Trump and his administration, from his campaign's contacts with Russians during the 2016 presidential race to the sprawling business interests he has not divested since taking office. The White House is refusing to cooperate with most of them, setting up other expected legal battles. Trump broke with a decades-old political precedent by refusing to release his returns as a presidential candidate in 2016 and he continues to do so as president, saying his tax returns are under IRS audit. House Democrats are using Trump's audit claim as grounds for seeking the returns. The lawsuit said the documents are needed to determine whether IRS audits are working properly, to examine how the agency administers tax policy where Trump is concerned and to ensure that Trump is complying with tax laws. The lawsuit said the administration's continued refusal to produce the materials "is depriving the committee of information necessary to complete its time-limited investigation, thereby impeding its most basic constitutional functions." It asked the court to force the administration to comply. Neal could also have the option of requesting Trump's state tax returns from the New York Department of Taxation and Finance. The state legislature voted in May to share tax return information with a congressional committee that asks for it. It was not clear whether Neal has contemplated such a move. (Reporting by Susan Heavey; additional reporting by Karen Freifeld; writing by David Morgan; editing by Jonathan Oatis and Rosalba O'Brien)
The future of fashion: How The RealReal and Revolve are reinventing retail Shares of Revolve (RVLV) were soaring on Tuesday. As the quiet period following the IPO has just ended,all but one analystinitiated a buy rating on the stock. After going public last month, the trend and millennial-focused e-tailer closed 89% higher on its first day as a public company. Revolve’s success reflects a broader shift in women’s clothing, especially as e-commerce already accounts for 28% of all apparel sales. “It doesn't surprise me that [Revolve] is doing so well. I think that so many interesting companies are cropping up right now with a really, really tight read on consumer desires and demands. Often, it's the consumer that's starting the company. Retail had become so stale. It became so expected, and I think that there's some really, really interesting entrepreneurs that are diving in,” Sali Christeson, founder and CEO of women’s workwear company Argent, said last week during an interview forBreakouts, Yahoo Finance’s live interview series. Christeson first launched Argent three years ago as a fashion-forward, functional alternative to the often-drab options women have for workwear. Having raised $6.1 million to date, the San Francisco-based brand positions itself as accessible luxury, with bright-colored suits pricing at roughly $600. The successful exits of digital-first retailers like Revolve andhigh-end consignment store The RealReal(REAL) bode well for entrepreneurs like Christeson as they try plot their profitable futures. Just as Revolve has been buoyed by social and influencer culture, Argent has relied heavily on celebrity clientele to elevate the brand. Hillary Clinton, Kamala Harris, Gloria Steinem, Awkwafina, and Amy Poehler are among the many influential women who have sported the suits. U.S.-based fashion and beauty startups like Argent raised a total of $2.1 billion in funding in 2018. While it makes up less than 2% of the total$131 billionventure capital pie, it’s clear investors are on the hunt for innovative e-commerce players — and many of these companies were started by women. While female founders merely raised 2.2% of all venture capital dollars last year, retail has more gender parity than nearly every other industry. Last year, female-founded retail businesses raised about half of the amount of VC funding given to male founders ($254.6 million compared to $439.9 million). “I think for us, we've been overwhelmed by the response that we've gotten. Women’s workwear is a $34.9 billion industry in the U.S. alone. Prior to us launching Argent, women rated the experience of shopping for work clothes a 3.9 out of 10. We’re hoping to change that,” Christeson said. When asked about her future exit strategy, Christeson said it would be foolish to be tunnel-visioned in her approach. “I think advice for aspiring entrepreneurs is as you take on money, something to think about is just ensuring that you maximize the number of exit options that you have open to yourself. Because the more money that you take on, the smaller, you know, that window becomes. So generally speaking, if you take on tens of millions, your only option is to IPO.” The future for Argent is wide-open, Christeson noted. “We're still in the sweet spot of being able to fall into being acquired or going public. My preference is to IPO, but we'll see. I think we'll continue to see direct-to-consumer brands just knock it out of the park. I do think that there are some companies that will continue to try and make acquisitions. Like,Walmart’s various acquisitions, including ELOQUII[a women’s plus-size brand]. I think that we'll have options and we're open,” she said. Melody Hahm is a senior writer at Yahoo Finance, covering entrepreneurship, technology and real estate. Follow her on Twitter@melodyhahm. She hostsBreakouts, a monthly interview series for Yahoo Finance featuring up-close and intimate conversations with today’s most innovative business leaders. Read more: • Bombas CEO: We could easily be a billion-dollar brand in the next 5 years • Preet Bharara: College admissions scandal is 'not that different from insider trading' • Two couples turned an axe-throwing hobby into a million-dollar business • How Anjali Sud became Vimeo’s CEO at 34 years old • How a single dad turned weed tours into a $1.8 million business • 3 Dreamers describe how DACA helped them find careers in America • Etsy CEO: We are the voice of the new, digital Main St.
Home Sweet Tiny House? Amazon Is Selling Tiny Homes for Less Than $20,000 For prospective homeowners looking for something on the smaller side, perhaps its time to ditch your realtor and head straight for Amazon. Thats right the online retailer has houses for sale that can be yours for less than $20,000, given you dont mind a tiny footprint and a whole lot of manual labor. One of the sites most popular options, the Lillevilla Allwood Cabin Kit Getaway , sells for $18,800, with the added bonus of free shipping. The 292-square-foot home features a downstairs with three rooms and an upstairs lofted sleeping area thats not included in the square footage. The suggested building time is two to three days for two adults working together. The company recommends using it as either a summer home or a home office, or perhaps a stand-alone retail building, and adding extra insulation in colder weather. Still, its not exactly move-in ready; if buyers want working plumbing for a toilet, shower, or kitchen sink, theyll have to buy and install it themselves. Amazon The itty-bitty cabin is just one of many tiny houses available on Amazon, like the $4,990, 113-square-foot cabin from Lillevilla, or the $10,695 273-square-foot garden house kit from Allwood Arlanda. The popularity of tiny homes, which require buyers to shed many of their material belongings in exchange for a more minimalistic lifestyle, has been on the rise in recent years, and has even inspired a lineup of shows on HGTV. Tiny House, Big Living premiered on the network in 2014 with a focus on houses smaller than 500 square feet, while Tiny House Hunters debuted that same year. Even Chip and Joanna Gaines have renovated a tiny shotgun house on Fixer Upper . It later went up for sale asking $950,000. RELATED VIDEO: Restoring the Iconic Brady Bunch House: HGTVs Jasmine Roth Takes Us Behind the Scenes RELATED: Amazons Viral Tiny House Sold Out Instantly Here Are 5 Others That Are Bound to Sell Out Soon The network has aired plenty of similar shows, too, including Tiny House Builders , Tiny Luxury , and Tiny Paradise . Story continues Living in a tiny house has freed up a lot of physical and mental energy, Brandon Irwin told Parade magazine in 2017 of his 360-square-foot Kansas home. Its been such a relief. Vera Struck, meanwhile, told the outlet she loves her tiny home, too, which features a 135-square-foot main room, plus a 65-square-foot bedroom loft and a 40-square-foot storage loft. RELATED: Yes, You Can Buy a Tiny House on Amazon for $3,000 Here Are 12 Easy DIY Kits to Shop Now Despite the appeal, tiny homes do come with some hiccups; many local zoning laws have minimum lot size requirements, making them cost more than just the materials needed to build them, according to the National Association of Home Builders .
UPDATE 1-Presidential hopeful Booker vows to end 'moral vandalism' of Trump immigration policy (Adds statement from Booker, details of plan) By Joseph Ax July 2 (Reuters) - Democratic presidential candidate Cory Booker would "virtually eliminate immigration detention" if elected, his campaign said on Tuesday, including ending the use of for-profit detention facilities and minimizing the time unaccompanied children spend in custody. Booker, 50, is among some two dozen Democrats seeking to take on Republican U.S. President Donald Trump in next year's election. Trump has made clamping down on illegal immigration the centerpiece of his domestic policy agenda. He has railed against Central American migrants crossing into the United States from Mexico – many of whom are seeking refuge under U.S. asylum laws – and has sought to build a wall along vast portions of the U.S. southern border. But U.S. agencies have struggled to keep up with a surge of mostly families arriving at the border, straining resources and overcrowding facilities. Last week, lawyers asked a federal judge to intervene after they detailed several instances in which children were being held in unsanitary, unsafe conditions. "On day one of my presidency, I will take immediate steps to end this administration's moral vandalism," Booker said in a statement. "Our country must have an immigration system that reflects our values, not one that strips dignity away from people fleeing danger, threats, and violence." Booker's plan would require border facilities operated by the U.S. Border Patrol, including those holding children, to comply with stringent health standards or face closure. He would also phase out contracts with private prison operators such as GEO Group Inc and CoreCivic Inc , which operate a number of facilities for U.S. Immigration and Customs Enforcement to house adult migrants awaiting court proceedings. In addition to targeting detention centers, Booker's plan would reverse the Trump administration's decision to end protections for "Dreamers," undocumented immigrants brought to the United States as children. Last week, the U.S. Supreme Court agreed to review Trump's decision next year. The program will remain in place until that case is resolved. Booker also would do away with Trump administration rules intended to restrict asylum claims and refugees, including Trump's entry ban for several Muslim-majority countries and a requirement that asylum seekers remain in Mexico until their U.S. court hearing. The plan calls for providing legal counsel to all immigrants and making it easier for them to post bond in immigration court proceedings. Several other Democratic contenders have released immigration plans, including former Secretary of Housing Julian Castro, U.S. senators Elizabeth Warren and Kamala Harris and former U.S. Representative Beto O'Rourke. (Reporting by Joseph Ax Editing by Bill Berkrot)
Tyler Skaggs' family requests that autopsy be withheld until October The sudden death of Los Angeles Angels pitcher Tyler Skaggs stunned the baseball world Monday. He was 27 years old, lined up for a start on Fourth of July — and then he was found dead in his hotel room in Texas before the Angels’ game against the Texas Rangers. There’s still plenty we don’t know about the circumstances surrounding Skaggs’ death, mainly the cause of his death. We know he was found unresponsive by authorities Monday afternoon and was pronounced dead on the scene. Police have said they don’t suspect foul play. The Tarrant County Medical Examiner told reporters it would begin its autopsy on Skaggs on Tuesday, but it wouldn’t be completed until October. According to USA Today , Skaggs’ family requested the medical examiner withhold the autopsy information until then: Tarrant Co. Medical Examiner says it will withhold autopsy information regarding Tyler Skaggs, per the family's request, pending completion of a final examination. It estimates a completion date of Oct. 2. — Gabe Lacques (@GabeLacques) July 2, 2019 Police did say again Tuesday that they don’t believe it was a suicide. The Fort Worth Star-Telegraph reports : “[I]n these early stages of the investigation, it does not appear at this time that suicide was the cause of death.” The Angels and Rangers will return to action Tuesday, the teams announced. There will be a moment of silence before first pitch. Players for the San Diego Padres and San Francisco Giants stand during a moment of silence for pitcher Tyler Skaggs at PETCO Park on July 1, 2019, in San Diego. (Photo by Sean M. Haffey/Getty Images) ——— Mike Oz is a writer for Yahoo Sports. Have a tip? Email him at mikeozstew@yahoo.com or follow him on Twitter! Follow @mikeoz More from Yahoo Sports: Nike pulls shoe after Kaepernick raises racial concerns Angels pitcher, family man Skaggs gone too soon Yankees’ Stanton posts heartfelt message after Skaggs’ death Broncos preview: Replacing Manning has been tough
Do Insiders Own Lots Of Shares In Dover Motorsports, Inc. (NYSE:DVD)? 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 Dover Motorsports, Inc. (NYSE:DVD) have power over the company. Insiders often own a large chunk of younger, smaller, companies while huge companies tend to have institutions as shareholders. 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. With a market capitalization of US$72m, Dover Motorsports is a small cap stock, so it might not be well known by many institutional investors. In the chart below below, we can see that institutions are noticeable on the share registry. Let's take a closer look to see what the different types of shareholder can tell us about DVD. See our latest analysis for Dover Motorsports Many institutions measure their performance against an index that approximates the local market. So they usually pay more attention to companies that are included in major indices. We can see that Dover Motorsports does have institutional investors; and they hold 25% of the stock. This suggests some credibility amongst professional investors. But we can't rely on that fact alone, since institutions make bad investments sometimes, just like everyone does. 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 Dover Motorsports'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 Dover Motorsports. We're not picking up on any analyst coverage of the stock at the moment, so the company is unlikely to be widely held. The definition of company insiders can be subjective, and does vary between jurisdictions. Our data reflects individual insiders, capturing board members at the very least. Company management run the business, but the CEO will answer to the board, even if he or she is a member of it. Most consider insider ownership a positive because it can indicate the board is well aligned with other shareholders. However, on some occasions too much power is concentrated within this group. Our most recent data indicates that insiders own a reasonable proportion of Dover Motorsports, Inc.. Insiders own US$26m worth of shares in the US$72m company. 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 17% ownership, the general public have some degree of sway over DVD. 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 22%, of the DVD stock. Private companies may be related parties. Sometimes insiders have an interest in a public company through a holding in a private company, rather than in their own capacity as an individual. While it's hard to draw any broad stroke conclusions, it is worth noting as an area for further research. It's always worth thinking about the different groups who own shares in a company. But to understand Dover Motorsports better, we need to consider many other factors. I always like to check for ahistory of revenue growth. You can too, by accessing this free chart ofhistoric revenue and earnings in thisdetailed graph. Of coursethis may not be the best stock to buy. Therefore, you may wish to see ourfreecollection of interesting prospects boasting favorable financials. 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.
12 Drug-Resistant Staph Infection Cases Confirmed in Pittsburgh Hospital — Including 6 Babies Twelve cases of a drug-resistant staph infection have been confirmed in the neonatal intensive care unit (NICU) at the University of Pittsburgh Medical Center Children’s Hospital, CNN reports . The cases include six babies — one of whom is potentially symptomatic — and six symptomatic employees. They have all tested positive for Methicillin-resistant Staphylococcus aureus (MRSA), the hospital told CNN. Staph infections are caused by germs commonly found on the skin or in the nose and can turn deadly if spread to the bloodstream, joints, bones, lungs or heart, according to the Mayo Clinic. RELATED : 2-Year-Old Boy Dies from E. Coli After Visiting Animals at San Diego County Fair While treatment usually involves antibiotics and drainage of the infected area, staph infections caused by MRSA are significantly difficult to treat because they are resistant to many antibiotics. More extreme cases of the infection can result in sepsis or even death. “UPMC always follows CDC guidelines, and isolation protocols and infection control procedures are in place,” the hospital told CNN in a statement. “We immediately notified the Allegheny County Health Department and Pennsylvania Department of Health and are collaborating to ensure the safest possible environment for patient care.” RELATED VIDEO : Colorado Couple Says They Became Violently Sick at Dominican Resort Where 3 Americans Died According to a recent CDC report , an estimated 119,247 staph bloodstream infections were confirmed in 2017, and 19,832 of those cases resulted in death. MRSA is typically spread by coming in contact with an infected wound, an infected person or someone with contaminated hands, according to the CDC. Hospital patients are more prone to infections, due to illnesses or open wounds. The CDC also finds that patients who have undergone surgery or dialysis have a higher chance of developing a MRSA infection. View comments
Homebuyers got excited and gave the edge back to sellers This post originally appeared on The Basis Point:Homebuyers got excited and gave the edge back to sellers Online real estate brokerage Redfin collects tons of data on the real estate deals it helps put together, which tells us a lot about the housing supply in the U.S. This data is actually really useful for you homebuyers and sellers out there because Redfin’s good atbreaking stuff down into local metro areas. Redfin’s latest is a report on a small decline in national housing supply. Nationally, there were 0.3% fewer homes for sale in June than the previous June. That was the first year-over-year decline since September. That means there were more homes for sale every month for the last 10 months than there were during those months in 2018 – San Jose had largestincreasein number of homes for sale in June 2019: up 43.6% – Seattle, Boston, Denver, Las Vegas, Portland, Chicago, San Francisco, and Nashville all had double-digit increases in inventory – Oklahoma City, Oklahoma had the largestdecreasein inventory: down 15.3% – Richmond, Virginia, Virginia Beach, Virginia, and Buffalo, New York also saw double-digit decreases in inventory -Again, national inventory saw a 0.3% decrease Basically, it’s a hiccup in the power shift that’s started tofavor buyers lately. Lower inventory helps sellers. If there are fewer homes on the market for buyers to shop for, sellers can demand more concessions and higher home prices. Recent economic data and low interest rates have gassed up buyers, but releasing pent-up buying energy put pressure on the supply of homes on the market. That could put buyers back where they started before things started to look better for them recently. Remember real estate is hyper-local. These national trends don’t necessarily help you navigate your own financial life. Lucky for us, Redfin gets pretty granular with these reports so you can take this data home. Sharp decreases in inventory can reveal a hot market. For example, it makes sense that Virginia cities are seeing big declines. People are probably eat up homes ahead of Amazon opening up its new headquarters there. Check the table at the bottom of the Redfin post to get a feel for which way the wind is blowing in your metro area. ___Reference: –Supply of Homes for Sale Down 0.3 Percent in June, First Annual Decline in 10 Months (Redfin) What housing slump? Housing starts show signs of life Real Estate VCs Fifth Wall Raise $500 Million To Invest In Housing Tech Linkage: Trump is the Fed’s biggest bully
Man who claimed to have protected students during school shooting revealed to be a hoax A man who gained media attention after claiming he saved students from a mass shooting while working as a substitute teacher never worked at the school, officials say. David Briscoe had spoken to numerous news organisations in the wake of the May 2018 Santa Fe High School shooting in Texas , which left 10 people dead and thirteen others wounded. He recounted stories of barricading children from an English class into their room, telling them to find cover and muffle their screams to avoid detection. However, an investigation by the Texas Tribune has revealed his supposed heroics are likely a fiction. Local police told the news website the shooting had been confined to art classrooms and there were no English classes being held in the vicinity. Meanwhile, school district officials said they had no record of his employment and are confident no one of the name David Briscoe was on campus at the time of the attack. “We are extremely disappointed that an individual that has never been a part of our school community would represent themselves as a survivor of the mass violence tragedy that our community endured,” said Leigh Wall, the superintendent of Santa Fe Independent School District said. “This situation illustrates how easily misinformation can be created and circulated, especially when the amount of detailed information available is limited due to the still ongoing investigation.” In the wake of the shooting, Mr Briscoe appears to have contacted several media outlets to claim he was involved in the tragedy. The Wall Street Journal , CNN and Time went on to use his account of events in their coverage. All have since removed his comments from their stories and published corrections. “It was simultaneous,” Mr Briscoe had told CNN. “I barricaded the door with desks and tables and shut the lights. “Honestly, it felt like hours before we got out of the school, but one of my students said it was 30 to 45 minutes.” His story went into grisly detail, including claims he heard the sound of what he supposed was a child getting shot, followed by “groaning”. He went on to contact the Tribune in April this year, asking reporter Alexandra Samuels if she would consider a follow-up story relating to a string of recent suicides by mass shooting survivors. In a subsequent phone call, Mr Briscoe reportedly told Ms Samuels he had given up teaching and moved out of Texas as a result of the trauma he suffered. He claimed he had given a speech on his experience at a high school in Orlando, Florida, an event the principal of the school said never took place. Story continues Later asked if he could help fact-check some of his claims, Mr Biscoe claimed one of his employees had been impersonating him during the interview and on social media, denying he had given an interview. The Twitter account he used to first contact the Tribune has since been deactivated. Dimitrios Pagourtzis , at the time a 17-year-old Santa Fe High School student, has been charged with 10 counts of murder in connection to the shootings. He is currently awaiting trial. View comments
3 Top Oil Stocks to Buy Right Now Oil demand and production are both growing steadily, and it seems like the good times will keep rolling for oil stocks. Everyone from producers to marketers of oil have a lot to like in today's market. We asked three Motley Fool contributors for their favorite oil stock, andExxonMobil(NYSE: XOM),EOG Resources(NYSE: EOG), andKinder Morgan(NYSE: KMI) made the list. They play in different parts of the market, but each has strengths that are the envy of competitors. Rich Smith(ExxonMobil):A little over a month ago, I named ExxonMobil as atop oil stock to buy right now-- i.e. rightthen.A little over a month later, the stock, well, it actually still trades within just a few pennies of what it cost back then. And logically, if it was a great oil stock to buythen, then it probably remains so today -- so I'm recommending it again. Now admittedly, a few things have changed since I made my first recommendation. Oil prices, for one. From early May to late June, the prices of both WTI crude oil and Brent have fallen more than 10%. But while you might think that cheaper oil would mean a cheaper stock price for this oil company, that so far isn't the case. Why not? I'd argue that one reason is because ExxonMobil stock is pretty cheap already. Priced at less than 18 times trailing earnings, Exxon already trades at a discount to analysts' expected 18% long-term earnings growth rate for the stock -- and that's before you factor in Exxon's 4.5% dividend yield, which is more than twice what the averageS&P 500company pays. At the same time, the situation inthe Strait of Hormuz-- far from cooling down after suspected Iranian mines damaged two oil tankers earlier this month -- appears to be heating up in the aftermath of the shootdown of a U.S.-owned drone aircraft by Iranian forces last week. That's already having an impact on oil prices, which are up 10% from their low point earlier this month. Until the crisis is defused, I'd expect it to continue pushing oil prices -- and Exxon profits -- upwards in the weeks to come. Matt DiLallo(EOG Resources):Shale drilling giant EOG Resources has a bold goal. It wants to be "one of the best-performing companies in the S&P 500,"according to CEO Bill Thomas. That's not just wishful thinking. The oil producer has the resources and the strategy to deliver on that aim, which makes it one of the top oil stocks to buy. EOG Resources has a threefold strategy toenrich its investors. First, it wants to deliver a double-digit return on the capital it employs on expanding its business. Last year, for example, it produced a 15% return on the money it invested, thanks in part to higher oil prices. While oil prices will always play a role in the returns it earns, EOG is working on getting to the point where it can deliver on this goal even if oil is in the $40s. The second leg of EOG's strategy is to grow its high-margin oil production at a double-digit annual rate. That will enable the company to expand its cash flow at a similarly fast pace. For 2019, the company is on track to increase its oil output by 12% to 16%. Meanwhile, it has more than 9,500 high-return drilling locations remaining, which is enough to fuel double-digit growth for more than a decade. Finally, the company wants to live below its means so that it can generate free cash. That will give it the money to continue growing its dividend at a high rate. It has already increased its payout by 31% this year and aims to increase it by amore than 19% compound annual growth ratein the coming years. "Our goal of double-digit returns, double-digit growth, and free cash flow puts EOG in line with the best companies across all sectors in the market," according to Thomas. With a strategy designed to outperform, EOG is among the top oil stocks to buy. Travis Hoium(Kinder Morgan):Oil companies have a lot riding on the price of oil, which can make their stocks risky, but I think the better bet long-term is the growing production of U.S. oil and natural gas. That's why I think the top oil stock is midstream giant Kinder Morgan. Kinder Morgan owns primarily pipelines that move oil and natural gas from one place to another. It doesn't necessarily need prices to be high to succeed, but it does need production to grow. And the trends are squarely in the favor of growing fossil fuel supply. U.S. crude oil production. Data byYCharts. Kinder Morgan's results aren't solely tied to natural gas production, but that's a good proxy for the health of the industry overall. The company charges fees for service, essentially charging a toll from product moving through its pipelines. That creates a predictable stream of cash flows and ultimately drives the current dividend rate of $1 annually per share. If you don't want to bet directly on the price of oil, a midstream company like Kinder Morgancan be a great alternativeto oil producers. And with a steady business and a dividend yield of 4.8%, this is a stock that will begin generating returns immediately. Oil production continues to be strong in the U.S. and prices are holding in well as the economy keeps growing. That's helping oil stocks, and if you're looking to add to your portfolio ExxonMobil, EOG Resources, and Kinder Morgan are a great place to start. More From The Motley Fool • 10 Best Stocks to Buy Today • The $16,728 Social Security Bonus You Cannot Afford to Miss • 20 of the Top Stocks to Buy (Including the Two Every Investor Should Own) • What Is an ETF? • 5 Recession-Proof Stocks • How to Beat the Market Matthew DiLalloowns shares of Kinder Morgan.Rich Smithhas no position in any of the stocks mentioned.Travis Hoiumowns shares of Kinder Morgan. The Motley Fool owns shares of and recommends Kinder Morgan. The Motley Fool has adisclosure policy.
Is CarGurus, Inc. (NASDAQ:CARG) As Strong As Its Balance Sheet Indicates? Want to participate in ashort research study? Help shape the future of investing tools and you could win a $250 gift card! Mid-caps stocks, like CarGurus, Inc. (NASDAQ:CARG) with a market capitalization of US$4.0b, aren’t the focus of most investors who prefer to direct their investments towards either large-cap or small-cap stocks. Despite this, commonly overlooked mid-caps have historically produced better risk-adjusted returns than their small and large-cap counterparts. Today we will look at CARG’s financial liquidity and debt levels, which are strong indicators for whether the company can weather economic downturns or fund strategic acquisitions for future growth. Note that this information is centred entirely on financial health and is a top-level understanding, so I encourage you to look furtherinto CARG here. Check out our latest analysis for CarGurus Debt-to-equity ratio standards differ between industries, as some are more capital-intensive than others, meaning they need more capital to carry out core operations. Generally, mid-cap stocks are considered financially healthy if its ratio is below 40%. For CarGurus, investors should not worry about its debt levels because the company has none! It has been operating its business with zero debt and utilising only its equity capital. Investors' risk associated with debt is virtually non-existent with CARG, and the company has plenty of headroom and ability to raise debt should it need to in the future. Given zero long-term debt on its balance sheet, CarGurus has no solvency issues, which is used to describe the company’s ability to meet its long-term obligations. But another important aspect of financial health is liquidity: the company’s ability to meet short-term obligations, including payments to suppliers and employees. Looking at CARG’s US$65m in current liabilities, it appears that the company has been able to meet these obligations given the level of current assets of US$179m, with a current ratio of 2.74x. The current ratio is calculated by dividing current assets by current liabilities. Usually, for Interactive Media and Services companies, this is a suitable ratio as there's enough of a cash buffer without holding too much capital in low return investments. CARG has no debt in addition to ample cash to cover its short-term commitments. Its safe operations reduces risk for the company and shareholders, but some level of debt may also ramp up earnings growth and operational efficiency. I admit this is a fairly basic analysis for CARG's financial health. Other important fundamentals need to be considered alongside. You should continue to research CarGurus to get a better picture of the stock by looking at: 1. Future Outlook: What are well-informed industry analysts predicting for CARG’s future growth? Take a look at ourfree research report of analyst consensusfor CARG’s outlook. 2. Valuation: What is CARG 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 CARG is currently mispriced by the market. 3. Other High-Performing Stocks: Are there other stocks that provide better prospects with proven track records? Explore ourfree list of these great stocks here. We aim to bring you long-term focused research analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material.If you spot an error that warrants correction, please contact the editor ateditorial-team@simplywallst.com. This article by Simply Wall St is general in nature. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Simply Wall St has no position in the stocks mentioned. Thank you for reading.
Global Legalization Will Determine the Fate of Aurora Stock Among the major cannabis plays, Canada’sAurora Cannabis(NYSE:ACB) has mostly gone its own way. RivalsCanopy Growth(NYSE:CGC) andCronos(NASDAQ:CRON) have sold billions of dollars’ worth of stock for cash to fund their growth. Aurora, instead, has used ACB stock to buy smaller companies. It has issued over 1 billion shares of Aurora Cannabis stock in the last few years. Source: Aurora Cannabis The good news with that strategy is that Aurora may have the broadest reach of any cannabis play. Per a recentinvestor presentation, Aurora is active in 24 countries across five continents. This is true from a product standpoint as well: Aurora offers not just cannabis flower butsoftgels, edibles, and CBD (cannbidiol) products. It’s an intriguing strategy — onewith huge risk and huge reward, as I wrote earlier this year. The steady issuance of ACB stock has diluted shareholders. This means Aurora needs huge profits in order to post reasonable earnings per share (EPS). The company is expected to generate about U.S. $552 million in revenue next year; it would need over U.S. $1 billion in earnings to get its EPS over $1. InvestorPlace - Stock Market News, Stock Advice & Trading Tips Of course, that type of growth is more likely for a diversified operator. But to achieve that growth, Aurora stock needs help in one key area. It needs marijuana legalization to move beyond Canada and a few smaller markets — and it needs that to happen relatively quickly. It would seem like producers have several markets in which to sell cannabis as possession of marijuana is legalized or decriminalized in areas around the world. But production is a different matter. Even in the Netherlands, which has been a destination for marijuana users for some time,growing marijuana is illegal. At the moment, only Canada and Uruguay offer truly legal opportunities for companies like Aurora. • 7 F-Rated Stocks to Sell for Summer The problem is that those two markets aren’t enough. There are hundreds of companies in Canada trying to get a piece of what Aurora itself has estimated at just a CAD $12 billion market. The medical market is pegged at CAD $3 billion, and the consumer market at CAD $9 billion. Even adding in medical opportunities in countries like Germany, the problem holds. There are too many companies, too much supply, chasing too few buyers. As we have seen in U.S. markets like Oregon and Colorado, that leads toplunging prices, thin margins, and likely a lower ACB stock price. For most marijuana plays, Canada alone isn’t enough. But smaller plays likeHexo(NYSEAMERICAN:HEXO) can manage better in a single market. So can a company likeCharlotte’s Web(OTCMKTS:CWBHF), whoseCBD focusallows it to drive sales in the U.S. and elsewhere. In contrast, Aurora’s strategy is based on becoming a major worldwide player. That’s why it continues to build its production capacity, rivaling Canopy for the biggest in the world. That is also why it has acquired so many businesses in far-flung destinations like Uruguay, whereit made a $290 million acquisitionlast year. In many cases, Aurora’s initial aims are to penetrate the medical side of the market — and it appears to be building leadership in that category (their competitor, Canopy, has seen its medical sales decline of late). But the bull case for Aurora, as it heads toward a whopping 1 million kilos of capacity, requires the demand match that production. That means recreational legalization on the producer side — not just decriminalization. It looks like a risk from here. Unlike Canopy, whohas a dealto enter the U.S. market, Aurora has no U.S. presence yet. Its growth will rely at least in part on legalization in Europe, Latin America, and the Oceania region. The news in those areas is mixed. Movement in Europe has been slow in part because the continentlacks ballot initiatives. The impact of that absence can be seen in the U.S., where legalization has moved by direct democracy, with politicians reluctant to embrace legalization beyond medicinal use. Spain isa candidate for legalization, however, and Belgium may head in the same direction. Still, European movement overall seems like it will be slow. In Latin America, Mexico may well see legalization after a recentSupreme Court decision. (Aurora has a presence in that market.) Outside of that country, however, there are reasons for caution. Brazil, led by conservative President Jair Bolsonaro, almost certainly will not pass legalization. Smaller countries have moved toward decriminalization — but not outright legalization of production, particularly in scale. New Zealand hasa referendum on the wayin 2020 that could open that market. Progress in Australia has stalled out, however. Over time, marijuana will likely gain acceptance. But for Aurora Cannabis stock, the definition of “over time” is exceedingly important. It still trades at about 14.4x fiscal 2020 sales forecast of$552 million. Growth from there may depend on how many new markets open for the company, particularly on the recreational side. If the pace of opening disappoints, ACB likely will too. If marijuana legalization gains steam worldwide, however, there isn’t a company better-positioned. Investors should place their bets accordingly. As of this writing, Vince Martin has no positions in any securities mentioned. • 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 The postGlobal Legalization Will Determine the Fate of Aurora Stockappeared first onInvestorPlace.
Should You Be Adding Neogen (NASDAQ:NEOG) To Your Watchlist Today? Want to participate in ashort research study? Help shape the future of investing tools and you could win a $250 gift card! It's only natural that many investors, especially those who are new to the game, prefer to buy shares in 'sexy' stocks with a good story, even if those businesses lose money. But the reality is that when a company loses money each year, for long enough, its investors will usually take their share of those losses. In contrast to all that, I prefer to spend time on companies likeNeogen(NASDAQ:NEOG), which has not only revenues, but also profits. Even if the shares are fully valued today, most capitalists would recognize its profits as the demonstration of steady value generation. Conversely, a loss-making company is yet to prove itself with profit, and eventually the sweet milk of external capital may run sour. View our latest analysis for Neogen The market is a voting machine in the short term, but a weighing machine in the long term, so share price follows earnings per share (EPS) eventually. Therefore, there are plenty of investors who like to buy shares in companies that are growing EPS. It certainly is nice to see that Neogen has managed to grow EPS by 18% per year over three years. This has no doubt fuelled the optimism that sees the stock trading on a high multiple of earnings. I like to see top-line growth as an indication that growth is sustainable, and I look for a high earnings before interest and taxation (EBIT) margin to point to a competitive moat (though some companies with low margins also have moats). Neogen maintained stable EBIT margins over the last year, all while growing revenue 7.3% to US$417m. That's progress. You can take a look at the company's revenue and earnings growth trend, in the chart below. To see the actual numbers, click on the chart. While we live in the present moment at all times, there's no doubt in my mind that the future matters more than the past. So why not checkthis interactive chart depicting future EPS estimates, for Neogen? I like company leaders to have some skin in the game, so to speak, because it increases alignment of incentives between the people running the business, and its true owners. As a result, I'm encouraged by the fact that insiders own Neogen shares worth a considerable sum. With a whopping US$66m worth of shares as a group, insiders have plenty riding on the company's success. That's certainly enough to make me think that management will be very focussed on long term growth. It's good to see that insiders are invested in the company, but are remuneration levels reasonable? A brief analysis of the CEO compensation suggests they are. For companies with market capitalizations between US$2.0b and US$6.4b, like Neogen, the median CEO pay is around US$5.2m. The Neogen CEO received total compensation of just US$1.9m in the year to May 2018. That looks like modest pay to me, and may hint at a certain respect for the interests of shareholders. CEO remuneration levels are not the most important metric for investors, but when the pay is modest, that does support enhanced alignment between the CEO and the ordinary shareholders. I'd also argue reasonable pay levels attest to good decision making more generally. You can't deny that Neogen has grown its earnings per share at a very impressive rate. That's attractive. If that's not enough, consider also that the CEO pay is quite reasonable, and insiders are well-invested alongside other shareholders. This may only be a fast rundown, but the takeaway for me is that Neogen is worth keeping an eye on. One of Buffett's considerations when discussing businesses is if they are capital light or capital intensive. Generally, a company with a high return on equity is capital light, and can thus fund growth more easily. So you might want to checkthis graph comparing Neogen's ROE with industry peers (and the market at large). Although Neogen certainly looks good to me, I would like it more if insiders were buying up shares. If you like to see insider buying, too, then thisfreelist of growing companies that insiders are buying, could be exactly what you're looking for. Please note the insider transactions discussed in this article refer to reportable transactions in the relevant jurisdiction We aim to bring you long-term focused research analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material.If you spot an error that warrants correction, please contact the editor ateditorial-team@simplywallst.com. This article by Simply Wall St is general in nature. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Simply Wall St has no position in the stocks mentioned. Thank you for reading.
Should Prologis, Inc. (NYSE:PLD) Be Part Of Your Dividend Portfolio? Want to participate in ashort research study? Help shape the future of investing tools and you could win a $250 gift card! Is Prologis, Inc. (NYSE:PLD) 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. Investors might not know much about Prologis's dividend prospects, even though it has been paying dividends for the last eight years and offers a 2.7% yield. A 2.7% yield is not inspiring, but the longer payment history has some appeal. There are a few simple ways to reduce the risks of buying Prologis for its dividend, and we'll go through these below. Click the interactive chart for our full dividend analysis Dividends are usually paid out of company earnings. If a company is paying more than it earns, then the dividend might become unsustainable - hardly an ideal situation. Comparing dividend payments to a company's net profit after tax is a simple way of reality-checking whether a dividend is sustainable. Looking at the data, we can see that 56% of Prologis's profits were paid out as dividends in the last 12 months. This is a fairly normal payout ratio among most businesses. It allows a higher dividend to be paid to shareholders, but does limit the capital retained in the business - which could be good or bad. In addition to comparing dividends against profits, we should inspect whether the company generated enough cash to pay its dividend. Prologis paid out 62% of its free cash flow last year, which is acceptable, but is starting to limit the amount of earnings that can be reinvested into the business. It's encouraging to see that the dividend is covered by both profit and cash flow. This generally suggests the dividend is sustainable, as long as earnings don't drop precipitously. As Prologis has a meaningful amount of debt, we need to check its balance sheet to see if the company might have debt risks. A quick check of its financial situation can be done with two ratios: net debt divided by EBITDA (earnings before interest, tax, depreciation and amortisation), and net interest cover. Net debt to EBITDA is a measure of a company's total debt. Net interest cover measures the ability to meet interest payments. Essentially we check that a) the company does not have too much debt, and b) that it can afford to pay the interest. With net debt of 4.94 times its EBITDA, investors are starting to take on a meaningful amount of risk, should the business enter a downturn. Net interest cover can be calculated by dividing earnings before interest and tax (EBIT) by the company's net interest expense. Interest cover of 4.92 times its interest expense is starting to become a concern for Prologis, and be aware that lenders may place additional restrictions on the company as well. Consider gettingour latest analysis on Prologis's financial position here. One of the major risks of relying on dividend income, is the potential for a company to struggle financially and cut its dividend. Not only is your income cut, but the value of your investment declines as well - nasty. The first recorded dividend for Prologis, in the last decade, was eight years ago. During the past eight-year period, the first annual payment was US$1.00 in 2011, compared to US$2.12 last year. This works out to be a compound annual growth rate (CAGR) of approximately 9.8% a year over that time. The dividend has been growing at a reasonable rate, which we like. We're conscious though that one of the best ways to detect a multi-decade consistent dividend-payer, is to watch a company pay dividends for 20 years - a distinction Prologis has not achieved yet. 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 Prologis has been growing its earnings per share at 47% a year over the past 5 years. With recent, rapid earnings per share growth and a payout ratio of 56%, this business looks like an interesting prospect if earnings are reinvested effectively. When we look at a dividend stock, we need to form a judgement on whether the dividend will grow, if the company is able to maintain it in a wide range of economic circumstances, and if the dividend payout is sustainable. First, we think Prologis is paying out an acceptable percentage of its cashflow and profit. Next, earnings growth has been good, but unfortunately the company has not been paying dividends as long as we'd like. Ultimately, Prologis 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 10 analysts we track are forecasting for Prologisfor freewith publicanalyst estimates for the company. Looking for more high-yielding dividend ideas? Try ourcurated list of dividend stocks with a yield above 3%. We aim to bring you long-term focused research analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material.If you spot an error that warrants correction, please contact the editor ateditorial-team@simplywallst.com. This article by Simply Wall St is general in nature. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Simply Wall St has no position in the stocks mentioned. Thank you for reading.
Senator Warren asks former FDA chief Gottlieb to resign from Pfizer board July 2 (Reuters) - U.S. Senator Elizabeth Warren urged former U.S. Food and Drug Administration Commissioner Scott Gottlieb to immediately step down from Pfizer Inc's board, three months after his departure from the health regulator. In a letter https://twitter.com/SenWarren/status/1146097769549127681 to Gottlieb, Warren, who is seeking the Democratic nomination for the 2020 presidential election, said "this kind of revolving door influence-peddling smacks of corruption." Gottlieb, who won bipartisan support for his efforts to curb use of flavored e-cigarettes by youths, stepped down from the FDA in April, a role he had held since May 2017. He was named to Pfizer's board last Thursday and was added to the board's regulatory and compliance as well as the science and technology committees. Warren added that such moves could make Americans cynical and distrustful about whether high-level officials from President Donald Trump's administration are working for the people or for future corporate employers. Gottlieb said in a tweet https://twitter.com/ScottGottliebMD/status/1146060875079356416 on Tuesday that he had a productive relationship with Warren while he was at the FDA and would respond to her letter privately. When asked to comment on Senator Warren's letter, Pfizer pointed Reuters to the company's announcement on Thursday. (Reporting by Manas Mishra in Bengaluru; Editing by Shailesh Kuber)
Lone survivor mourns 'soulmate' husband killed after plane crashes into North Carolina home The lone survivor of a plane crash is grieving the loss of her “soulmate” husband, one of two people killed when the aircraft plowed into their North Carolina home on Thursday. Loretta Parker of Hope Mills, N.C., was in bed with Henry, her spouse of 33 years, when the tragedy occurred around 11:30 p.m., according to ABC 11 . Parker had fallen asleep while watching a movie, but she said she’s not sure if Henry was also asleep at the moment of impact. Parker said when she woke up, she felt like she was underground. But she was actually buried under a pile of debris after a small civilian airplane crashed into the back of her house, destroying it. Both Henry and his beloved dog, Grace, lost their lives in the disaster. The plane, identified as a Beechcraft Baron, was flown by a pilot named Bill Merritt, who also died. In Cape Fear Valley Medical Center recovering from the injuries she sustained, Parker recalled details of the nightmarish scenario. “You don't think an airplane is going to drop right out of the sky and into your bedroom,” she told ABC 11. "At first I thought maybe I was dreaming. But it was really real, but it was really dark, and I couldn’t see any light to get out.” Parker said she started trying to dig her way out and yell for help, but her cries just came out as a whisper. “I thought I was screaming,” she said, “but I couldn’t get my breath.” An EMT worker, who Parker is looking forward to meeting and thanking, finally rescued her from beneath the rubble and carried her “like a baby” to the ambulance. “I was in so much shock and pain,” she said. Parker is still reeling from losing the love of her life, who died by her side. “He is very much my soulmate, and I don't know how I'm going to make it without him," Parker said. "I'm thankful for the time I had with him. But I miss him." She said Henry loved his sons Derek and Chance and his daughter, Chelsea, “immensely.” But she feels a measure of comfort from the idea that Grace the dog is somewhere with him. Story continues "She was Henry's best friend and was extremely loyal to him," she said. It’s unknown whether the crash was caused by a technical malfunction or a pilot error, but Merritt did report a “control issue” right before it happened. He had been practicing nighttime takeoff and landing, National Transportation Safety Board senior investigator Robert Gretz said, and was preparing to touch down on the runway when he sent the distress message. One nearby neighbor told ABC 11 she’d “never heard anything that loud,” while another eyewitness recalled coming out to see that the crash “took the whole back of the house out." The couple reportedly lived in a double-wide modular home. An investigation by the Federal Aviation Administration and the National Transportation Safety Board is underway, and a preliminary report is expected to take about 10 days. A full report could take up to a year to compile. But Parker wants answers as soon as possible. She said whoever is responsible for the crash “robbed me raw of my soulmate, my home, my financial security. They've taken everything from me. Everything, things I can never get back." Read more from Yahoo Lifestyle: ‘Assaultive passenger’ on American Airlines flight forces an emergency landing 'Mentally disturbed' passenger tries to open plane door during flight Lawsuit claims that United Airlines flight crew failed to report sexual assault of teen passenger Follow us on Instagram , Facebook and Twitter for nonstop inspiration delivered fresh to your feed, every day.
Volatility 101: Should Avis Budget Group (NASDAQ:CAR) Shares Have Dropped 41%? Want to participate in a short research study ? Help shape the future of investing tools and you could win a $250 gift card! Avis Budget Group, Inc. ( NASDAQ:CAR ) shareholders should be happy to see the share price up 23% in the last month. But that doesn't change the fact that the returns over the last five years have been less than pleasing. In fact, the share price is down 41%, which falls well short of the return you could get by buying an index fund. Check out our latest analysis for Avis Budget Group To paraphrase Benjamin Graham: Over the short term the market is a voting machine, but over the long term it's a weighing machine. One flawed but reasonable way to assess how sentiment around a company has changed is to compare the earnings per share (EPS) with the share price. While the share price declined over five years, Avis Budget Group actually managed to increase EPS by an average of 27% per year. Given the share price reaction, one might suspect that EPS is not a good guide to the business performance during the period (perhaps due to a one-off loss or gain). Or possibly, the market was previously very optimistic, so the stock has disappointed, despite improving EPS. Because of the sharp contrast between the EPS growth rate and the share price growth, we're inclined to look to other metrics to understand the changing market sentiment around the stock. In contrast to the share price, revenue has actually increased by 2.0% a year in the five year period. So it seems one might have to take closer look at the fundamentals to understand why the share price languishes. After all, there may be an opportunity. The graphic below depicts how earnings and revenue have changed over time (unveil the exact values by clicking on the image). NasdaqGS:CAR Income Statement, July 2nd 2019 Take a more thorough look at Avis Budget Group's financial health with this free report on its balance sheet . A Different Perspective Avis Budget Group provided a TSR of 7.5% over the last twelve months. But that was short of the market average. On the bright side, that's still a gain, and it is certainly better than the yearly loss of about 10.0% endured over half a decade. It could well be that the business is stabilizing. Before spending more time on Avis Budget Group it might be wise to click here to see if insiders have been buying or selling shares. Story continues If you would prefer to check out another company -- one with potentially superior financials -- then do not miss this free list 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 US exchanges. We aim to bring you long-term focused research analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. If you spot an error that warrants correction, please contact the editor at editorial-team@simplywallst.com . This article by Simply Wall St is general in nature. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Simply Wall St has no position in the stocks mentioned. Thank you for reading.
Tuesday Apple Rumors: iPhone With Fingerprint Sensor Under Screen May Come to China Leading theApple(NASDAQ:AAPL) rumor mill today is news of a new iPhone just for China. Today, we’ll look at that and otherApple Rumorsfor Tuesday. China iPhone :A recent rumor claims that Apple is going to release a special iPhone in China, reportsMacRumors. According to this rumor, the tech company is planning to release an iPhone in China that has a fingerprint sensor under the screen. These smartphones will be missing the company’s face sensors that work with Face ID. The rumor also says that they will have a stronger focus on price. The company wants to capture budget customers in the country as sales slow. MacBook Pro:A new MacBook Pro has been given approval by the FCC,AppleInsidernotes. This MacBook Pro has a model number A2159. That’s the same model number as a MacBook Pro registered overseas. The document does mention that the device is a laptop computer. However, it doesn’t reveal any other details about it, such as screen size. InvestorPlace - Stock Market News, Stock Advice & Trading Tips iOS 13 Beta:There’s a new version of the iOS 13 beta available for download, reports9toMac. This new beta is only up for download to developers. It is also the third beta release that has been sent out to developers. There will likely be a public version of the new beta that will go live in the next few days. New betas for iPadOS 13, watchOS 6, tvOS 13, and macOS Catalina are also out today. Subscribe to Apple Rumors As of this writing, William White did not hold a position in any of the aforementioned securities. The postTuesday Apple Rumors: iPhone With Fingerprint Sensor Under Screen May Come to Chinaappeared first onInvestorPlace.
Should You Be Concerned About NextEra Energy, Inc.'s (NYSE:NEE) ROE? Want to participate in ashort research study? Help shape the future of investing tools and you could win a $250 gift card! One of the best investments we can make is in our own knowledge and skill set. With that in mind, this article will work through how we can use Return On Equity (ROE) to better understand a business. By way of learning-by-doing, we'll look at ROE to gain a better understanding of NextEra Energy, Inc. (NYSE:NEE). Our data showsNextEra Energy has a return on equity of 6.7%for the last year. Another way to think of that is that for every $1 worth of equity in the company, it was able to earn $0.067. See our latest analysis for NextEra Energy Theformula for ROEis: Return on Equity = Net Profit ÷ Shareholders' Equity Or for NextEra Energy: 6.7% = US$2.9b ÷ US$38b (Based on the trailing twelve months to March 2019.) Most readers would understand what net profit is, but it’s worth explaining the concept of shareholders’ equity. It is all the money paid into the company from shareholders, plus any earnings retained. You can calculate shareholders' equity by subtracting the company's total liabilities from its total assets. ROE looks at the amount a company earns relative to the money it has kept within the business. The 'return' is the yearly profit. 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 ROE can be used to compare two businesses. By comparing a company's ROE with its industry average, we can get a quick measure of how good it is. However, this method is only useful as a rough check, because companies do differ quite a bit within the same industry classification. As is clear from the image below, NextEra Energy has a lower ROE than the average (10%) in the Electric Utilities industry. That certainly isn't ideal. We prefer it when the ROE of a company is above the industry average, but it's not the be-all and end-all if it is lower. Nonetheless, it might be wise tocheck if insiders have been selling. Most companies need money -- from somewhere -- to grow their profits. That cash can come from issuing shares, retained earnings, or debt. In the first and second cases, the ROE will reflect this use of cash for investment in the business. In the latter case, the use of debt will improve the returns, but will not change the equity. In this manner the use of debt will boost ROE, even though the core economics of the business stay the same. NextEra Energy clearly uses a significant amount of debt to boost returns, as it has a debt to equity ratio of 1.06. Its ROE isn't too bad, but it would probably be very disappointing if the company had to stop using debt. Debt increases risk and reduces options for the company in the future, so you generally want to see some good returns from using it. Return on equity is a useful indicator of the ability of a business to generate profits and return them to shareholders. In my book the highest quality companies have high return on equity, despite low debt. If two companies have around the same level of debt to equity, and one has a higher ROE, I'd generally prefer the one with higher ROE. But when a business is high quality, the market often bids it up to a price that reflects this. The rate at which profits are likely to grow, relative to the expectations of profit growth reflected in the current price, must be considered, too. So you might want to check this FREEvisualization of analyst forecasts for the company. If you would prefer check out another company -- one with potentially superior financials -- then do not miss thisfreelist of interesting companies, that have HIGH return on equity and low debt. We aim to bring you long-term focused research analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material.If you spot an error that warrants correction, please contact the editor ateditorial-team@simplywallst.com. This article by Simply Wall St is general in nature. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Simply Wall St has no position in the stocks mentioned. Thank you for reading.
Meet Big Tech's new foe - a congressman who fought City Hall PROVIDENCE, R.I. (AP) — Can the congressman who took on an entrenched machine politician in Rhode Island also stand up to Big Tech? David Cicilline, the Rhode Island Democrat now leading a House antitrust investigation into the market dominance of Facebook, Google, Amazon and Apple, is about to find out. But he has experience going up against "enormously powerful, very well-financed, very well-connected" special interests, which is how he now terms the technology industry. That description also fit an earlier Cicilline opponent, former Providence Mayor Vincent "Buddy" Cianci , a charismatic and seemingly indestructible politician who ran the city for more than two decades. Cicilline braved a run to unseat Cianci in 2002 at a time when the incumbent was fending off corruption charges but still intent on winning a seventh term. By that year's end, Cicilline was headed to the mayor's office, Cianci to federal prison, and the seeds were planted for a bitter political rivalry that would last until Cianci died in 2016. "If you can take on Buddy Cianci, you can certainly take on Mark Zuckerberg," said Darrell West, a former political science professor at Brown University in Providence who now directs the Brookings Institution's Center for Technology Innovation. Cicilline is adept at social media and drives a Tesla, but until recently hasn't been considered among the tech policy wonks in Congress. As a law student and lawyer, he didn't spend much time studying the nation's century-old antitrust laws, first used to target oil barons and railroad monopolies. Yet for those who have followed his career, it fits into a trend of siding with the underdog. For Cicilline, the federal government's lack of scrutiny as Google gobbled up its digital advertising competitors and Facebook acquired rivals like Instagram and WhatsApp has enabled the tech giants to corner their market, giving people little choice but to agree to terms of service that exploit their personal data. Story continues "A monopoly's good for nobody, especially for workers," said J. Michael Downey, a president of a Rhode Island public sector union who is enthused about the congressman's latest high-profile cause. "When he takes someone on, I've watched him do good things with it." Cicilline may be better known by some younger Americans for his championing of LGBT rights , and by older ones for his pithy attacks on President Donald Trump during regular cable appearances. He pushed early for an impeachment inquiry, bucking Speaker Nancy Pelosi despite being part of her leadership team. Early on, Cicilline followed his father, a Mafia lawyer , into criminal defense work. He got experiences in taking on the "imbalance of power," he said, by suing police for misconduct. He later served as a state representative before taking aim at Cianci, who had already served two long stretches as mayor. ( The first ended after Cianci attacked his estranged wife's alleged lover with a lit cigarette and a fireplace log.) Cicilline pitched himself as an anti-corruption reformer. At one early fundraiser, Cicilline said Cianci's supporters jotted down the license plate numbers of attendees, then used the information to identify and intimidate them. "He didn't take well to people challenging him," Cicilline told The Associated Press in an interview. He said the sitting mayor also tried to dig up dirt about his legal career. Cianci later called Cicilline's mayoral bid a "political suicide mission" that succeeded only because a racketeering conviction forced Cianci out of office before the election. Cicilline coasted to victory and served eight years as mayor before being elected to Congress in 2010. Cianci spent more than four years in federal prison, then returned to Providence as a radio talk show host. "I'm not a good enemy to have," Cianci wrote in his 2011 autobiography, "Politics and Pasta," in which he took credit for tarnishing Cicilline's reputation with on-air attacks. "But what could Cicilline do to me? Put me in prison? Been there, done that, and I brought home the T-shirt." Silicon Valley's tech giants might also not make good enemies. For now, Cicilline is seeking their cooperation and emphasizes that the investigation is "not a prosecution." But he can also wield subpoena power should that approach fail. Cicilline now runs the Judiciary Committee's antitrust subcommittee, a typically sleepy body that he aims to beef up. Its investigation will explore whether these online platforms are stifling competition, favoring their own services or threatening the democratic process by virtue of their control over how people get information. Given the popularity of these tech services, Cicilline said it's also important to show Americans "why this misuse of their data, the exclusion of rivals, why the promotion of one product over another without them knowing about it, matters." Tech companies so far are expressing their willingness to help inform the probe, but some of their proxies complain that Cicilline's approach looks more like a show trial. "For Cicilline and everybody else in that camp, it's clear these companies are guilty," said Rob Atkinson, president of the industry-backed Information Technology and Innovation Foundation, and a veteran of Rhode Island politics. "The only real question for them is what to do about it." Cicilline's evolution on unchecked monopoly power followed the lead of another New England Democrat, Sen. Elizabeth Warren of Massachusetts. In mid-2016, Warren accused Google, Apple and Amazon of using their online platforms to snuff out competition, threatening not just their competitors but democracy. She has since rolled out a plan to break up the companies. Cicilline calls that a "last resort." In 2017, Cicilline began dabbling in antitrust policy as the ranking Democrat on the GOP-run antitrust subcommittee and pushed unsuccessfully for a hearing on how Amazon's acquisition of Whole Foods would affect both consumers and workers. He consulted with groups such as the Open Markets Institute, a think tank that advocates breaking up monopolies. This year, Cicilline hired Lina Khan, a top attorney at Open Markets, to serve as a subcommittee counsel. She declined comment for this story. Cicilline and his Republican colleagues on the subcommittee are standing up to "the most powerful corporations we've seen in the world for at least 100 years," said Barry Lynn, director of the Open Markets Institute. West, the Brookings scholar, said Cicilline's unlikely leadership on this cause — as the representative of a tiny state without a significant tech sector — could work to his advantage as the wealthy tech companies mobilize their allies. "He's a pretty free agent on this type of topic," West said. ___ This story has been corrected to include Lina Khan's correct title.
US STOCKS-Stocks stall as trade enthusiasm fades * USTR threatens $4 bln in additional tariffs on EU goods * Energy falls the most among S&P 500 sectors * Dow up 0.05%, S&P 500 up 0.05%, Nasdaq down 0.11% (Updates to mid-afternoon; adds dateline, changes byline) By Chuck Mikolajczak NEW YORK, July 2 (Reuters) - U.S. stocks held near the unchanged mark on Tuesday as optimism over the U.S.-China trade truce faded after the United States threatened tariffs on additional European goods, stalling a recent rally. Washington's proposed tariffs on $4 billion worth of EU goods in a long-running dispute over aircraft subsidies unnerved investors and came just as trade tensions with China seemed to be easing. Stocks had rallied to push the S&P 500 to a record on Monday in the wake of the U.S. trade truce with China, but stocks finished well off their highs as investors questioned the lack of details in the agreement. The S&P 500 had rallied nearly 7% in June on hopes the two largest economies in the world would find a way to end their trade war. "There really was this expectation on the inside of the Street that Trump would deliver on something that gave a lift to confidence and lift to the prospects for international trade -that is really what fueled the move," said Peter Kenny of Kenny’s Commentary LLC and Strategic Board Solutions LLC. "Now that is done, now that is in the rear view mirror, what is next?" The Dow Jones Industrial Average rose 1.74 points, or 0.01%, to 26,719.17, the S&P 500 gained 1.03 points, or 0.03%, to 2,965.36 and the Nasdaq Composite dropped 6.51 points, or 0.08%, to 8,084.65. With U.S. and global economic data showing signs of slowing, Kenny said the focus for investors will now turn to monetary policy and the upcoming earnings season. The softening data triggered a drop of about 3% in crude oil prices despite an agreement among oil producers to extend supply cuts and pushed the energy sector down 1.94%, the biggest drag on markets. Oil majors Exxon Mobil Corp and Chevron Corp declined more than 1% each, while Apache Corp slumped more than 5%. Cleveland Fed President Loretta Mester, a Federal Reserve policymaker, on Tuesday expressed skepticism that a U.S. interest rate cut is the right move until there are more signs the economy is moving to a truly weaker path. Market participants still expect the Fed to cut interest rates at its July 30-31 policy meeting, despite the latest developments in trade talks. Automatic Data Processing lost 3.21%, pressuring the tech-heavy Nasdaq, after market sources said brokerage Jefferies is re-offering 8 million of the company's shares at a discount. L3Harris Technologies gained 4.01%, making it the best performer on the S&P 500, after Jefferies added the defense contractor to its top picks for aerospace and defense electronics for the second half of 2019. Gilead Sciences Inc rose 1.04% after the drugmaker said it will submit a new drug application for its arthritis drug to the FDA this year. Investors are now awaiting the monthly jobs report on Friday, which is expected to show the private sector added 160,000 jobs in June, after May's sharp slowdown in jobs growth. Advancing issues outnumbered declining ones on the NYSE by a 1.03-to-1 ratio; on Nasdaq, a 1.58-to-1 ratio favored decliners. The S&P 500 posted 34 new 52-week highs and 1 new lows; the Nasdaq Composite recorded 54 new highs and 45 new lows. (Reporting by Shreyashi Sanyal & Uday Sampath in Bengaluru; Editing by Sriraj Kalluvila and Dan Grebler)
What Kind Of Shareholders Own Capricor Therapeutics, Inc. (NASDAQ:CAPR)? Want to participate in ashort research study? Help shape the future of investing tools and you could win a $250 gift card! Every investor in Capricor Therapeutics, Inc. (NASDAQ:CAPR) should be aware of the most powerful shareholder groups. Institutions will often hold stock in bigger companies, and we expect to see insiders owning a noticeable percentage of the smaller ones. I generally like to see some degree of insider ownership, even if only a little. As Nassim Nicholas Taleb said, 'Don’t tell me what you think, tell me what you have in your portfolio.' With a market capitalization of US$13m, Capricor Therapeutics is a small cap stock, so it might not be well known by many institutional investors. Our analysis of the ownership of the company, below, shows that institutional investors have bought into the company. Let's delve deeper into each type of owner, to discover more about CAPR. Check out our latest analysis for Capricor Therapeutics Institutions typically measure themselves against a benchmark when reporting to their own investors, so they often become more enthusiastic about a stock once it's included in a major index. We would expect most companies to have some institutions on the register, especially if they are growing. We can see that Capricor Therapeutics does have institutional investors; and they hold 5.1% of the stock. This suggests some credibility amongst professional investors. But we can't rely on that fact alone, since institutions make bad investments sometimes, just like everyone does. 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 Capricor Therapeutics'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 Capricor Therapeutics. There is a little analyst coverage of the stock, but not much. So there is room for it to gain more coverage. While the precise definition of an insider can be subjective, almost everyone considers board members to be insiders. Management ultimately answers to the board. However, it is not uncommon for managers to be executive board members, especially if they are a founder or the CEO. Most consider insider ownership a positive because it can indicate the board is well aligned with other shareholders. However, on some occasions too much power is concentrated within this group. Our most recent data indicates that insiders own a reasonable proportion of Capricor Therapeutics, Inc.. Insiders own US$2.4m worth of shares in the US$13m company. This may suggest that the founders still own a lot of shares. You canclick here to see if they have been buying or selling. The general public -- mostly retail investors -- own 63% of Capricor Therapeutics . This size of ownership gives retail investors collective power. They can and probably do influence decisions on executive compensation, dividend policies and proposed business acquisitions. Our data indicates that Private Companies hold 13%, of the company's shares. It might be worth looking deeper into this. If related parties, such as insiders, have an interest in one of these private companies, that should be disclosed in the annual report. Private companies may also have a strategic interest in the company. While it is well worth considering the different groups that own a company, there are other factors that are even more important. I like to dive deeperinto how a company has performed in the past. You can findhistoric revenue and earnings in thisdetailed graph. Ultimatelythe future is most important. You can access thisfreereport on analyst forecasts for the company. NB: Figures in this article are calculated using data from the last twelve months, which refer to the 12-month period ending on the last date of the month the financial statement is dated. This may not be consistent with full year annual report figures. We aim to bring you long-term focused research analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material.If you spot an error that warrants correction, please contact the editor ateditorial-team@simplywallst.com. This article by Simply Wall St is general in nature. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Simply Wall St has no position in the stocks mentioned. Thank you for reading.
The Simply Good Foods Company (SMPL) Q3 2019 Earnings Call Transcript Image source: The Motley Fool. The Simply Good Foods Company(NASDAQ: SMPL)Q3 2019 Earnings CallJul 2, 2019,8:30 a.m. ET • Prepared Remarks • Questions and Answers • Call Participants Operator Greetings. Welcome to Simply Good Foods Company Third Quarter 2019 Conference Call. At this time, all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation. (Operator Instructions) Please note, this conference is being recorded. I will now turn the conference over to Mark Pogharian, Vice President of Investor Relations. Thank you. You may begin. Mark Pogharian--Vice President, Investor Relations, Treasury and Business Development Thank you, Sherry. Good morning. I'm pleased to welcome you to Simply Good Foods Company earnings call for the third quarter ended May 25, 2019. Joe Scalzo, President and CEO, and Todd Cunfer, CFO, will provide you with an overview of results, which will then be followed by a Q&A session. The company issued its earnings press release this morning at approximately 7:00 a.m. Eastern Time. A copy of the release and accompanying presentation are available under the Investors section of the company's website at www.thesimplygoodfoodscompany.com. The call is being webcast live on the website and an archive of today's remarks will also be available for 30 days. During the course of today's call, management will make forward-looking statements that are subject to various risks and uncertainties that may cause results to differ materially. The company undertakes no obligation to update these statements based on subsequent event. A detailed listing of such risks and uncertainties can be found in today's press release and the company's SEC filings. In addition, management will make references to adjusted EBITDA, a non-GAAP financial measure that it believes provides investors with the useful information with which to evaluate the company's operating performance. Today's earnings release includes a reconciliation of the most directly comparable GAAP financial measures to non-GAAP measures. And with that out of the way, it's my pleasure to turn the call over to Joe Scalzo, President and Chief Executive Officer. Joseph E. Scalzo--President and Chief Executive Officer Thank you, Mark. Good morning, and thank you for joining us. Today, I'll recap our third quarter highlights and provide an update on our business. Then Todd will discuss the summary of our third quarter and our year-to-date financial results. And after that, we'll open the call to your questions. We delivered another strong quarter with both financial and point-of-sale results exceeding our expectation. Net sales and gross profit increased double digits on a percentage basis versus last year. This is our fifth consecutive quarter of double-digit growth across both of these metrics. And we're delivering on our commitments, while also investing in our business and our capabilities, especially marketing, which has increased 24% over the first nine months of the year. Our retail takeaway growth as measured by IRI continued to be strong across all forms, all channels and all major customers. Total Atkins US retail takeaway in Q3 was up 19.5%, exceeding our expectations, even as we began overlapping stronger year-ago comps. And our e-commerce business continues to do well, with sales up meaningfully in Q3. Importantly, the nutritional snacking category continues to grow and outperforms most center store packaged good foods category, driven by healthy snacking and meal replacement mega trend. For both the third quarter and year-to-date period, category growth continues to be in the mid to high single-digit. Our marketing and advertising complements the consumer mega trend and secular tailwinds driving this category growth. And with nutritional snacking household penetration only around 50%, we believe there is a lot more room for growth. Turning to the third quarter. Net sales increased 30.1%, and as expected, outpaced POS growth as customer inventories normalized for first half level. In line with our long-term algorithm, adjusted EBITDA was up greater than sales growth and increased 38.8%. Our business continued to be driven by strong base velocity gains on core products. The increase in our top line underscores the strength and resilience of our brand against our large consumer target that includes both core programmatic weight loss consumers as well as lifestyle-oriented low-carbers. Our successful marketing campaign is resonating with both groups of consumers and we're driving consumers to the category and to our brand. Volume was the biggest contributor to growth in Q3, up 32%. As expected, net sales growth outpaced retail takeaway, driven by the timing of inventory movements to key retailers. Bar promotions resumed in the third quarter, although slightly below prior year and net price realization was a 100 basis point benefit in the quarter. This was offset by the non-price-related trade promotion accounting shift from G&A that we discussed in the last couple of quarters. The increase in adjusted EBITDA is a direct result of sales growth. These gains were partially offset by higher direct media investments and an increase in G&A. Measured channel US POS growth continues to be robust. Across all time periods in fiscal 2019, 13 weeks, 26 weeks and 39 weeks, POS growth has been around 20%. This gives us confidence in the effectiveness of our marketing and message as well as the continued -- as we continue to drive consumption and grow buyers, although we do anticipate that POS growth will slow in the fourth quarter as we lap aggressive year-ago growth rates. More on this in just a bit. And I'm very pleased that our growth continues to be well balanced across all product forms, that's bars, shakes and confections. Our marketing strategy for the brand is unique among traditional food brands. We are the only major nutritious snacking brand that is well developed across bars and shakes and confections and achieving balanced growth across all these forms. Our messaging is focused on the distinctive Atkins nutritional philosophy, whose benefit are supported by over 100 independent peer-reviewed clinical studies. The brand stands distinctively for low-carb, low sugar, protein-rich nutrition designed to avoid blood sugar spikes and help the body burn stored fat. Our marketing strategy focuses on communicating the benefits of this nutritional philosophy while offering delicious convenient snacks for consumers seeking those benefits and looking for a snack or meal replacement. And our strong retail performance continues to come almost entirely from base velocity growth. Distribution is up in fiscal 2019, driven by our new 30-gram protein shake and some confection items. As planned, overall promotional volume was down slightly versus year ago as we dialed back on the frequency of bar activity given supply constraints. Our strong results have given us the financial flexibility to invest in the business. As such, we are committed to increasing advertising and marketing, at least in line with sales growth. During fiscal 2019, we've invested well beyond that target, given the effectiveness of our marketing execution and our strong financial performance. Building on the three advertising spots that began airing in Q2, the third quarter featured a new spot called Rob Lowe Secrets Out. The ad focuses on our bar products and flavors, as well as the benefits of that, specifically that our products are an excellent source of proteins, low in carbs and contain no added sugars. Our advertising is resonating with consumers and having the desired effect. POS growth continues to be strong and total buyers continue to grow while maintaining loyalty and buy rate, consistent with historic levels. New products are an important element of our strategy. Our 2019 innovations such as the Atkins protein wafer crisp bar and our new 30-gram protein shake are both doing well. The wafer bar distribution is on track with ACV of about 55%. Trial and repeat has been solid and similar to other successful Atkins sales (ph). Our 30-gram protein product offers consumers a higher protein meal replacement shake and is performing in line with our expectation. We estimate at this point that it is over 80% incremental to Atkins and over 40% incremental to the category. Overall, I'm satisfied with our performance. Third quarter and year-to-date results were strong and we're on pace to deliver another year of meaningful sales and EBITDA growth that will significantly exceed our long-term target. In the fourth quarter, year-over-year comps are more challenging. Looking at the POS data on this slide, you will notice the year-over-year growth rates in fiscal '19 have been sequentially slowing as we make our way throughout the year. However, encouraged by the growth in total buyers, we continue to see coming to the brand and we feel good about the quality of our fourth quarter on air advertising, which will be up significantly versus last year. Our strategy of educating consumers on low-carb, low-sugar nutrition is working. We are confident in the continued effectiveness of our marketing, our improved supply situation and our financial flexibility to invest in proven growth initiatives. We are focused on driving top line growth, especially with new lifestyle self-directed low-carbers. Additionally, the investments we've made position us nicely to deliver solid growth in 2020 and over our strategic planning cycle. Now, I'll turn the call over to Todd to provide you with some greater financial details. Todd Cunfer--Chief Financial Officer Thank you, Joe, and good morning, everyone. Let me start with two points, as it relates to the numbers you see on the slides that follows. First, for comparative purposes, we will review financial statements for the quarters ended May 25, 2019 and May 26, 2018. Second, we evaluate our performance on an adjusted EBITDA basis based on our asset-light, strong cash flow model. We have included a detailed reconciliation from GAAP net income to adjusted EBITDA in today's press release. We believe this measure is a key indicator of the true underlying performance of the business. Now for a review of third quarter results across major metrics. Let me start with net sales. Core volume growth has been solid over the last year and continues to be the primary driver of our sales increase. Specifically in the third quarter, volume increased 32%. As expected, net sales growth outpaced retail takeaway, driven by the timing of inventory movements at key retail. Note that year-to-date net sales growth and retail takeaway are now relatively in line and we are well positioned to meet consumer demand. Bar and trade promotions resumed in the quarter, although frequency was slightly lower than last year, resulting in modest price realization of 1%. These gains were partially offset by the change in how we account for services provided by some of our customers. As we discussed during the last two quarterly calls in the year-ago period, this cost was recorded in selling expense. Turning to the rest of the P&L, gross profit increased 27.3% to $65.3 million. Gross margin declined 100 basis points to 46.8%, primarily due to the non-price-related customer activity, that is a shift from selling expense. This change in methodology only impacts fiscal 2019 amount, therefore, affecting comparability versus the year-ago period by negatively impacting the third quarter of 2019 by about 120 basis points. Additionally, the company incurred slightly higher supply chain costs due to modest inflation, but this was offset by savings from the strategic sourcing initiative, which was in line with our expectation. Adjusted EBITDA was up 38.8% to $24.9 million, driven by the increase in gross profit, partially offset by a 34.1% increase in marketing, driven by increased media and e-commerce investments, as well as the 29.1% increase in G&A, due primarily to greater incentive compensation as well as slightly higher distribution center costs due to greater volume. Note that selling expense was lower than last year due to the previously discussed shift of non-price-related customer activity. Income tax expense in Q3 was $4.6 million versus $2.8 million in the prior year. Our effective tax rate in Q3 was 25.4% versus 28.5% in the year-ago period. Our year-to-date tax rate of 24.2% brackets our targeted full-year anticipated tax rate of 24% to 25%. As a result, reported net income in the third quarter was $13.5 million versus $7.1 million last year. Year-to-date, net sales were up 18.9% to $384.2 million. As I mentioned earlier, the year-to-date net sales increase was driven primarily by organic core volume growth. Year-to-date, gross profit increased 18% to $182 million, with gross margin down 30 basis points versus prior year. The shift in non-price-related customer activity from selling expense to trade resulted in an unfavorable impact on 2019 gross margin of about 90 basis points. Year-to-date, adjusted EBITDA increased 23.3% to $74.6 million, driven by the increasing gross profit, partially offset by other expenses, including a 24.3% increase in marketing and a 23.2% increase in G&A due to higher incentive compensation, costs associated with the strategic sourcing initiative and annualization of second half of fiscal 2018 investments to enhance organizational capabilities. Year-to-date, income tax expense was $13.2 million versus a benefit of $17.5 million in the prior year. Recall, nine months year-to-date 2018 amounts included $29 million one-time gain related to the remeasurement of deferred tax liabilities and a $4.7 million gain on the fair value of the Tax Receivable Agreement that were recorded in the second quarter of 2018. As a result, year-to-date reported net income was $41.4 million versus $58.7 million last year. Moving on to the balance sheet and cash flows. The company's solid balance sheet and cash flow provides us with continued financial flexibility to support future organic growth and participate in value-enhancing M&A. Year-to-date, cash generated by operating activities was $52.6 million, driven by strong earnings growth, partially offset by higher inventory, although note that inventory is down nearly 10% versus last quarter as we get back toward our desired levels. Year-to-date, CapEx was $0.8 million, and net cash provided by financing activities was $84.3 million primarily driven by the cash received from the warrant exercised. Additionally, note that full-year CapEx is forecasted to be less than $2 million. In Q3, we acquired $1.5 million of our shares in the open market. Year-to-date, we have acquired $1.7 million against the $50 million authorization approved in November. As of May 25th, the company had cash of $247.6 million. There is $197 million remaining on the outstanding term loan, resulting in a net cash position $50.6 million. I would now like to turn the call back to Joe for brief closing remarks. Joseph E. Scalzo--President and Chief Executive Officer Thank you, Todd. In summary, we expect that we'll end the year strong with full-year net sales and adjusted EBITDA growth up meaningfully versus last year. Given our momentum, we anticipate full-year fiscal 2019 sales and EBITDA growth to be in line with the year-to-date percentage increase trend. The full-year outlook reflects, first, significantly more challenging POS comps in the fourth quarter and our expectation that retail takeaway will continue to sequentially slow. Second, incremental strategic investments in marketing that should continue to drive buyer growth. And finally, we anticipate that Q4 net sales will outperform POS growth due to the fourth quarter benefits of the 53rd week and the year-over-year positive impact of sales in transit that we previously discussed. We are highly confident in our long-term opportunities that are focused on driving top line growth and total buyers for the brand. The marketing investments we've made in the business, as well as the investments in enhanced capability position us to deliver solid growth in 2020. As we have shared with you over the last year, we're confident in our business as we execute against our strategies and we are delivering on our financial objectives while investing in the business, a path that we believe will continue to create value for our shareholders. We appreciate everyone's interest in the company and now we're available to take your questions. Operator Thank you. (Operator Instructions) Our first question is from Jason English with Goldman Sachs. Please proceed with your question. Jason English--Goldman Sachs -- Analyst Hey. Good morning, folks. Congrats on a strong quarter. I've got a couple of quick questions. First, the fourth quarter guidance. If our math is right, it implies organic sales growth kind of underlying ex-some of the transitory benefits of around 5%. So first, is that -- is that about right? And second, what we see in retail, scanner data suggests momentum sustaining well above that. Are we missing anything happening maybe outside Nielsen track channels? Todd Cunfer--Chief Financial Officer So, this is Todd. So a couple things to consider. To continue drag through the entire year as you know is that expense. Accounting shift impacts us by approximately 2 points a quarter, so that -- we will get the last piece of that in Q4 and then we'll start lapping that as we get into next fiscal year and international has been about a 2 point drag on our top line as well. So I mean, you're correct. We're obviously -- we have two favorable tailwinds from the 53rd week and revenue recognition impact from last year, also have -- always potentially a little bit of noise about where retailer inventories land. And do we have a potential to do slightly better than that? Of course, but those are kind of the bridges. Hopefully, that makes sense. Jason English--Goldman Sachs -- Analyst It does. Is my 5% number roughly right? Because I think we were contemplating all those factors when we drive to our 5%. Todd Cunfer--Chief Financial Officer No, look, do we think we're going to outdo 5% POS growth in Q4? Certainly. Do we think we can do a little bit better than the numbers you were kind of implying? Yes. Because there is always uncertainty around where retail inventory is going to land. That's always -- that's always the wildcard. Jason English--Goldman Sachs -- Analyst Got it. That's helpful. And a quick question on innovation. It sounds like the 30-gram protein shake is off to a strong start. It looks like in the POS data that you're building some momentum behind powder, powder shakes as well. Can you give us an update on where they stand? It looks like pretty light distribution. Do you see more opportunity there? And what are you seeing in terms of cannibalization of your ready-to-drink shakes? Joseph E. Scalzo--President and Chief Executive Officer Hey. Good morning, Jason. This is Joe. I would say, look, I think the 30-gram shake is going to be a nice addition to our portfolio given its incrementality. Powders have been slower in the build and frankly, not as incremental as we anticipated. So, unclear to me at this point how well powder would do over the next, call it six to 12 months. Jason English--Goldman Sachs -- Analyst Got it. Thanks a lot, guys. I'll pass it on. Joseph E. Scalzo--President and Chief Executive Officer You are welcome. Thank you. Todd Cunfer--Chief Financial Officer Thanks, Jason. Operator Our next question is from Chris Growe with Stifel. Please proceed with your question. Christopher Growe--Stifel Nicolaus -- Analyst Hi. Good morning. Joseph E. Scalzo--President and Chief Executive Officer Hey, Chris. Christopher Growe--Stifel Nicolaus -- Analyst I just had a couple of questions for you as well. And if I could start first just to understand your consumption and shipments are now in line for the year, but retail inventory levels were depleted entering the year. So, I'm just trying to understand from an inventory standpoint at retail, do you expect to continue to build a bit like in the fourth quarter, or are we at the right level now for inventory levels overall? Joseph E. Scalzo--President and Chief Executive Officer No, we're -- we feel very good about the inventories levels we are at retailers. So, I think from this point forward, there should be not a big swing. So, that should not be a big issue going forward. Christopher Growe--Stifel Nicolaus -- Analyst Okay. And then just a question on your -- so the savings coming through from your supply chain program. You talked about those savings, which I think really kind of kicked in here in Q3, offsetting cost of goods due to an increase in costs. I just wanted to get, hopefully, a little bit of sense around the size of each of those. Do you have an idea, like just give an idea of how much the costs are up? And then how those synergies kind of phase as those are kind of the first quarter form here in Q3, did pick up sequentially as we go forward like Q4 into 2020? Just trying to get a better sense there. Joseph E. Scalzo--President and Chief Executive Officer Yes. So, I won't get into a deep level of specificity on it, but we are seeing some modest inflation, low single digits on our ingredients and other supply chain costs. We are offsetting those beginning in Q3 by strategic sourcing. It's behaving exactly the way we had hoped. It's doing really well. That will continue in Q4. And as we go into fiscal year 2020, we are starting to see some inflation, milk proteins in a way, I think that in nature does nothing that we can overcome, obviously, by our strategic sourcing and other projects we have on, that we're working on right now, but the project is doing very, very well, but we are seeing a little bit of inflation out there. Christopher Growe--Stifel Nicolaus -- Analyst Okay. Thank you for the time this morning. Operator Our next question is from Brian Holland with D.A. Davidson. Please proceed with your question. Brian Holland--D.A. Davidson -- Analyst Yeah. Thanks. Good morning. I guess a couple high-level questions. As we think about the improved inventory situation, I think about some of the long-term opportunities you've spoken to in the past, channel specific, whether that's club where you're under penetrated, convenience and the single-serve as well. I appreciate, they may not be near-term initiatives or focus points. But to what extent with an improved inventory situation, can you revisit those opportunities and more maybe aggressively attack those? Does that change at all with the improved inventory situation, or there are other dynamics that maybe I'm just not considering here? Joseph E. Scalzo--President and Chief Executive Officer Hey, Brian. This is Joe. We are -- we never slowed down on those initiatives because they tend to be more strategic in nature, so you've got to keep pressure on those. So, our desire to want to build out in white space, we kept pressure on those initiatives. I think over time, we'll start to see some of the positive impacts of those things, but we didn't slow those down for our supply situation. You can't -- you can't stop and start those initiatives because you're having conversations with customers over a sustained period of time to build distribution. So, there is this (ph) shuttle. Brian Holland--D.A. Davidson -- Analyst Okay. That's helpful. And then can you help us understand -- if we go back a few years ago, you sort of talked about $6 million buyers maybe 62 servings per buyer, that's kind of -- that may be specific to a product line bars, et cetera. But even just directionally, so what does this kind of quantify the growth in the number of buyers that you have? And maybe how, at least directionally, household could provide -- I know you said servings for buying are going up, so that's certainly encouraging. But just trying to get a sense of, what the tail looks like here at this point based on the progress you've had here in the past couple of years? And maybe I think you know the chart that I'm thinking about that, that you presented a few years ago. Just -- what kind of progress have we made? Is there any change in view on what that looks like given the success of the initiatives you've had in place here? Joseph E. Scalzo--President and Chief Executive Officer Yes. So, I don't -- again, the chart we showed you was a incidence study. So, that's a strategic study that you do once every multiple years. So, I can't tie back to those numbers on a quarterly basis or even on an annual basis. Here's what I know. From that chart, we knew we were underpenetrated among these lifestyle consumers and there were about four times as many of those as the programmatic weight loss folks. I'm trying to remember the numbers, but I think the programmatic were about 8 million and the lifestyle -- the lifestyle low-carbers were about, call it 30 million. As we've tracked our progress over the last year, we've made -- we've grown our buyers significantly behind the lifestyle consumers and we've kind of held our ground with programmatic weight loss consumers. I can't tell you with the penetration among that 30 million. I just know a lot of my new buyers. A meaningful percentage of those buyers are coming into lifestyle box. Now the one concern that we had going into this is that their loyalty would be different than a programmatic weight loss person, i.e., low, either I don't hold them as long or they don't buy as much. I can't see the specifics by the buyer group. But overall, the loyalty of the buyer group hasn't changed and knowing that I've grown meaningfully among lifestyle is just, we can infer that the loyalty of the lifestyle consumers that it is fundamentally the same as the programmatic weight loss consumers. And if you remember our branded buy rate in the category -- this category lead (ph), so on average, I think our number is close to 50 servings per year on average of our average buy. So -- and then it changes meaningfully from year one to year two. It's about 30 purchases, 30 buy purchases in the first year and over a hundred purchases in the second. That seems to be holding up, which is a nice surprise for our business. And that is probably the biggest single driver of the growth exceeding our expectations. Buy rate loyalty remain consistent, even though we're bringing in a different and therefore, we expected a different purchase behavior consumer. That has not been the case. Christopher Growe--Stifel Nicolaus -- Analyst Thanks. That's very helpful context. Joseph E. Scalzo--President and Chief Executive Officer (Multiple Speakers) Christopher Growe--Stifel Nicolaus -- Analyst No, no, no, that was very helpful. Thank you for the context. Best of luck going forward. Joseph E. Scalzo--President and Chief Executive Officer Yeah. And unfortunately, I can't give you -- I wish I had a digital instrument to tell me how many buyers that they were and what they were buying. I don't have that tool. Right? I can infer some different types of studies, what's going on. And what's going on is it's exceeding our expectations because we're bringing lifestyle people in and they're are buying at a rate pretty consistently with the programmatic weight loss. Christopher Growe--Stifel Nicolaus -- Analyst Got it. Perfect. Thank you. Joseph E. Scalzo--President and Chief Executive Officer Yeah. You are welcome. Operator Our next question is from Rob Dickerson with Deutsche Bank. Please proceed with your question. Rob Dickerson--Deutsche Bank -- Analyst Great. Thank you so much. So, I guess just follow-up from Brian's question is I guess then, if lifestyle consumer and buyers are exceeding expectations and obviously driving kind of crazy, let's call it, volume growth while the programmatic both steady, kind of where you stand today relative to where you stood two years ago, is there -- would you say there is -- there is obviously a lot of incremental learnings and you watched a lot occur with the brand and what -- kind of innovated around the brand. But -- so now what? Is this, obviously, just keep doing exactly what we've been doing? There is no need to change anything to your marketing program. We definitely are keeping Rob Lowe and we'll definitely will have the adjacency flavors marketing or else what have you. Because obviously, you're doing extremely well on the top line. So get in that lifestyle consumer, seems like it's bought in and you continue to try to increase your household penetration. And you've also learned a number of things. As you think forward even to next year and no guidance -- but just, what do you do differently to sustain the growth rate or maybe you do nothing differently? Joseph E. Scalzo--President and Chief Executive Officer Hey, Rob, good, great question. So it's the one that keeps me up at night. So, what should we keep doing and what should we change? And the answer is, I think there are some things that are working and we continue to do, but we also keep testing different ideas. So, you can never -- wise man once told me, all trees don't grow to the sky. So, you can't -- you can't believe that doing the same thing consistently year after year, year after year is going to continue to drive the same results. So, you are always looking for new insights and new avenues to growth. So, I'll give you an example of something that we began during the year that we're getting learning from. So, we went into a market and we significantly change the level of marketing support and the composition of the marketing support. So, trying to get broader reach in the marketing effort, then we're getting learning out of that every day. So if you're going to spend more, how do you deploy? We're consistently looking for new insight. So, you do copy testing, you do in-market Q&A (ph). You understand what consumers are taking away. You have an idea, a pretty good idea of which we're trying to communicate in the next round of execution. You're always trying to do a little bit better. So, I'll give you an example there. We would like the weight component of our messaging as we move into the next year to be a little bit stronger. If you remember the fair share executions with Rob, he talked a little bit about when you're feeling bad, you start looking a little bit better. We kind of lost that this year, and we think we need to get that back. That will help us with programmatic weight loss consumers. So, we're always looking for it. You should -- you should plan on us continuing to do it. What else can we do to help us improve the efficiency and the effectiveness of the marketing investment? And we're always out there looking for business. So, no states (Multiple Speakers) but we're not throwing the good stuff away, but we are never (inaudible). We are always looking for new opportunities Rob Dickerson--Deutsche Bank -- Analyst Yeah. And it's obviously just the balance of how much you really need to spend, spend whether it's in trade promo, which was up a little bit quarter and then we were obviously spending a lot with just keeping the distribution and the velocities up. So the question is, do you need to -- you need to be growing 20% for this aftermarket. We are kind of always worried about, keep me up at night. Joseph E. Scalzo--President and Chief Executive Officer Yeah. Rob Dickerson--Deutsche Bank -- Analyst The other question is just, strategically -- obviously, it's always a question, especially for your company and the Board or management team is just cash on the balance sheet. Net cash is still high. Leverage is at strong position, 2 million CapEx. How is the deal pipeline? Is there a sense of, let's say, more immediate timing now relative to where we start a year ago? But we haven't really seen anything come through yet. And I know you're always focused on it, but just trying to get a sense as to sense of urgency, what's in the marketplace, how the pipeline looks, et cetera? Joseph E. Scalzo--President and Chief Executive Officer Yeah, the pipeline is full and we're very active as you can tell from some of the deal costs that are flowing through our financials are very, very active. And as you know, when you're dealing with fast growing, typically privately owned nutritious snacking company, expectations on valuations are high. So the job is do your diligence understand what value you think you bring to the asset? How you contribute (Technical Difficulty) and can you find the right interception between seller expectations and what we believe we can do with the business. So far, we've not been able to find that despite a lot of activity. Rob Dickerson--Deutsche Bank -- Analyst Okay. Then very well... Joseph E. Scalzo--President and Chief Executive Officer I wish I could-I wish I could tell you, are we going to get something done in the short term, but I can't tell you that because I don't know. Rob Dickerson--Deutsche Bank -- Analyst I get it. We're all waiting. Thank you, guys. Great quarter. Joseph E. Scalzo--President and Chief Executive Officer Thank you. Operator Our next question is from Eric Larson with Buckingham Research Group. Please proceed. Eric Larson--Buckingham Research Group -- Analyst Yeah. Good morning, everyone. Really nice quarter. By my calculations, Joe, and Todd, I'm not sure if this is correct. It looks like Simply Good is providing about 35, maybe a third of the total category growth rate. Now that might be an inaccurate number. It's the best that I have, with the data I have. First of all, is that accurate? And then what are you seeing from your competitors? It seems like you're looking over your shoulder, yet -- obviously, you have to be careful as you do that. But can you kind of stack up what you're seeing in the marketplace today relative to maybe what you've had over the last three months to six months? Joseph E. Scalzo--President and Chief Executive Officer Yeah, I think -- this is Joe. Let -- we're obviously big and growing in big numbers, so we are a meaningful part of the category growth. We tend not to want to talk too much about how we view the category because we feel that's competitively sensitive. But we are a big player and we're growing fast. So, we're a meaningful part of that. Our comments, I think reflect how we view the category, the category relative to center store is underpenetrated and has got nice tailwinds. It's got snacking tailwinds, convenience tailwinds, meal replacements. There's a whole number of secular consumer trends that are going to continue to drive this category toward growth. The last six month to 12-month growth rate is kind of been IN the mid-single digits to the high-single digits. So, we've been growing category share. But there are a number of players in the category that continues to grow nicely, continue to pick up market share. And we expect -- I don't think -- I think that's unchanged, quite frankly. So, we expect to continue category growth. We think the -- there'll be small guys continuing to grow and I think some of the bigger guys will continue to take market share. Eric Larson--Buckingham Research Group -- Analyst Okay. Joseph E. Scalzo--President and Chief Executive Officer I -- we tend not to focus too much also on competition. For us, it's what do we believe about our opportunities to growth, what are the initiatives to do it and how well are we executing against those? Those are more important than what the competition is doing right now. So it's much more about doing, understanding what you need to do and executing well with that. Eric Larson--Buckingham Research Group -- Analyst Got it. Just a final question. And it's kind of drilling down a little bit more into some of the questions that have already been asked. But you brought -- you brought Rob Lowe on, I believe, what, January of '18 and January of this year was your second year with him. And if the -- if your lifestyle users are as high of consumers and repeat purchasers as your -- as your traditional Atkins' consumers. You're now kind of starting the year two of maybe pretty significant consumption on the consumers. You may have brought in, in '18 and that then in 2020 could even be a better higher consumption number. Should that give us just from what you've already built in the last 18 months with Rob Lowe, the confidence that, that we could still see continued strong POS numbers if those relative consumption numbers are about the same for your lifestyle versus your traditional Atkins user? Joseph E. Scalzo--President and Chief Executive Officer I think, yeah. So the -- the unknowns obviously are that the buy rate hold is the loyalty hold. But yeah, we've done a nice job of growing buyers. As you grow new buyers, they become year two and to year three buyers. And they have a benefit to it. So, I would just say that prior performance on loyalty is not necessarily predictive of future performance. So yeah, we're optimistic because of the buyer growth and we feel good about the fact that the loyalty has held so far. And if it continues to hold, we feel pretty good about our prospects in 2020. And we've got to keep going. We've got to keep growing new buyers. (Multiple Speakers) Sorry. So, we've got to keep doing it next year. Eric Larson--Buckingham Research Group -- Analyst Yeah, no, that's the engine to your company, frankly. Joseph E. Scalzo--President and Chief Executive Officer Yeah. Thank you. Operator Our next question is from Bill Chappell with SunTrust. Please proceed. Bill Chappell--SunTrust Robinson Humphrey -- Analyst Thanks. Good morning, guys. Do you mind -- I think I'm right in saying that I guess your founders, Board Members are raising a new spec or money for that. And if that's correct, can you just kind of help us understand how that works with the new spec M&A priorities versus your priorities and how the Board members work with you more or less going forward? Just kind of clear that for me would be great. Joseph E. Scalzo--President and Chief Executive Officer Yeah. First -- I think the first question is how active have they been out with the spec for a few days and they've been obviously behind the scenes very active. I haven't noticed a decrease in the number of calls that come by from the Conyers Park guys. They continue to be robustly engaged in our business. The -- as our business has accelerated, our M&A strategy has narrowed and that has reduced the number of assets that we frankly would even consider looking at much closer to the nutritious snacking categories. That opened the avenue up for the Conyers guys to look at another vehicle. That would be in all likelihood more center of store as to take advantage of some of the assets that are out there. I think it's the large cap guys and more private assets out there that are more center store focus. So the agreement that we have with the Conyers guys as we get first kick in the can at assets and look, we're pretty narrowed. So, we're going to be looking at nutritious snacking assets mostly in our eye. And that's what we're going to stay focused. They are going to be looking at other places, quite frankly. Bill Chappell--SunTrust Robinson Humphrey -- Analyst Got it. And then, just second one. I know there have been several questions around gross margin outlook. And I know you're not giving 2020 guidance. But just trying to understand the puts and takes. It's tough to see -- or for us to see how much strategic sourcing kicks in next year versus promotion kicks in back to more normal levels versus what you would refer to as some of the higher commodity costs. I mean, do you see stabilization little bit next year for gross margin? Or would you expect it to be, I guess, under pressure or at least down year-over-year just for kind of the normal course of business? Todd Cunfer--Chief Financial Officer Yeah. So look, obviously, our gross margin expansion is incredibly important to the long-term model of our business. Our expectations are, over the long term, we will -- we need to grow at approximately 20 basis points to 30 basis points per year. We've been excluding some of the accounting shifts. We've been able to do that or better the last couple of years. So that continues to be incredibly important for our strategy. Yeah, there is some inflation out there. It's -- it's relatively modest. It's nothing that we're terribly concerned about right now, but it's out there. And the good news is, we continue to have really robust projects to offset that inflation. We obviously pulled back on -- on trade this year. We feel really good about the ability to still drive volume. We are pulling back on trade and/or having higher promotional price points out in the marketplace. We don't see a big shift in that strategy going into FY '20. So, we feel good that we can maintain our -- a very, very healthy gross margin. Bill Chappell--SunTrust Robinson Humphrey -- Analyst So, 20 basis points to 30 basis points is still a good number? Todd Cunfer--Chief Financial Officer Yeah. Long term, I'm not going to give you a specific guidance in the year. But long term, that's where -- that's the model that -- that's what we hope to achieve at a minimum. Bill Chappell--SunTrust Robinson Humphrey -- Analyst Got it. Thanks so much. Operator And our final question comes from Chase West with Consumer Edge Research. Please proceed. Chase West--Consumer Edge Research -- Analyst Good morning. Thanks for the question. Joseph E. Scalzo--President and Chief Executive Officer Hi, Chase. Chase West--Consumer Edge Research -- Analyst Most of mine have been answered. Hi. Most of mine have been answered this morning, but wanted to ask a quick question on SimplyProtein. In our data, we're seeing a slight uptick in distribution this spring, but it's still well below Atkins. Are there any changes to your plans around SimplyProtein? And maybe can we expect increased investment in near or medium term? Joseph E. Scalzo--President and Chief Executive Officer Yeah. I would first highlight that pretty much every brand is well below Atkins in category. So, I'm not sure that's the correct benchmark. I think we've said before that our view of -- as we're going to incubate this brand, so getting into some distribution, proving its success by driving velocity where it is, before we expand further. That's what we think is a prudent approach, given the fact that if you grow distribution really quickly and you don't have the velocities, you lose distribution and food, drug mass relatively quickly. So, we're -- we've taken a much more one day at a time approach with Simply. Kind of happy where we are right now. From a distribution standpoint, I think the number is somewhere around 20% to 25% of food and we're now focused on driving velocity and making sure the turns on the shelf are good before we expand further. Chase West--Consumer Edge Research -- Analyst Got it. That's very helpful. Thank you. Joseph E. Scalzo--President and Chief Executive Officer Yeah. Operator This concludes our question-and-answer session. I would like to turn the conference back over to management for closing remarks. Joseph E. Scalzo--President and Chief Executive Officer Yeah. Thanks again for your participation on the call today. We look forward to updating you on the fourth quarter results in October. We hope you all have a good day. Thank you. Operator Thank you. This concludes today's conference. You may disconnect your lines at this time and thank you for your participation. Duration: 45 minutes Mark Pogharian--Vice President, Investor Relations, Treasury and Business Development Joseph E. Scalzo--President and Chief Executive Officer Todd Cunfer--Chief Financial Officer Jason English--Goldman Sachs -- Analyst Christopher Growe--Stifel Nicolaus -- Analyst Brian Holland--D.A. Davidson -- Analyst Rob Dickerson--Deutsche Bank -- Analyst Eric Larson--Buckingham Research Group -- Analyst Bill Chappell--SunTrust Robinson Humphrey -- Analyst Chase West--Consumer Edge Research -- Analyst More SMPL analysis All earnings call transcripts More From The Motley Fool • 10 Best Stocks to Buy Today • The $16,728 Social Security Bonus You Cannot Afford to Miss • 20 of the Top Stocks to Buy (Including the Two Every Investor Should Own) • What Is an ETF? • 5 Recession-Proof Stocks • How to Beat the Market This article is a transcript of this conference call produced for The Motley Fool. While we strive for our Foolish Best, there may be errors, omissions, or inaccuracies in this transcript. As with all our articles, The Motley Fool does not assume any responsibility for your use of this content, and we strongly encourage you to do your own research, including listening to the call yourself and reading the company's SEC filings. 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DNI Metals - Update Toronto, Ontario--(Newsfile Corp. - July 2, 2019) - DNI Metals Inc. (CSE: DNI) (OTC Pink: DNMKF) ("DNI" or the "Company"). Requests for Graphite DNI has received numerous requests for graphite from India, Europe and the USA. Potential customers are looking for supplies other than their traditional supply from China. Dan Weir, CEO, commented: "The reason DNI entered the Graphite market in 2015, was through the research that we completed in 2014. Our team of experts have developed and/or operated graphite mines and processing plants in Canada, Sri Lanka, and Australia. We understood that as the demand for batteries for electric cars, electric bikes, computers and cell phones increases so does the demand for Graphite. Due to internal demand and lower production, China has cut back on exports and has increased imports of graphite." "India, Korea, USA, and Europe, are trying to find secure supplies. They are contacting us, since our area of Madagascar, has supplied lower cost high quality material for 100 years." Investigation in Madagascar As per DNI's press release dated October 24, 2018: "Through an ongoing investigation, the Office National pour l'Environnement Madagascar, ONE, has determined and informed DNI that the many of the receipts and documents were falsified, and that the fee payments had not been paid. In fact the Cahier d'Charge Minieres and the environmental impact study for Marofody had not been filed with the ONE." DNI has completed its investigations in Madagascar. DNI worked closely with the auditors, banks, and government organizations in Canada and Madagascar. Under Malagasy law, if fraud is suspected in a Malagasy company, it must be reported. DNI has complied with its obligations. The matter is now in the hands of the authorities. DNI has rectified the previous issues and expects to receive the environmental licenses shortly. Financial Statements DNI's board of directors and its management are working expeditiously to meet DNI's obligations relating to the filing of the 2018 Annual Financial Statements. At DNI's last annual meeting, a motion was approved by shareholders to change DNI's year end to December 31. The previous year end was March 31. DNI's subsidiaries in Madagascar and Mauritius are required to file financials at December 31 year ends. DNI decided to change the year end of the Parent company, DNI Metals Inc., to better align with the accounting in Madagascar. This will simplify the accounting practices as DNI builds its pilot plant and gets into production. DNI has set up new companies in Mauritius and Madagascar. The Mauritian companies, DNI Mauritius Vohitsara, and DNI Mauritius Marofody are 100% owned by DNI Metals Inc., the parent or publicly listed company. The Mauritian companies in turn own 100% of the Malagasy subsidiaries, DNI Madagascar Vohitsara Sarlu, and DNI Madagascar Marofody Sarlu. The benefits of having Mauritian subsidiaries are twofold: 1. Mauritius and Madagascar have an Investment Promotion and Protection Agreement ("IPPA") in place since late 2010. 2. A double-taxation treaty is in force between Madagascar and Mauritius. The Vohitsara permit is 100% owned by DNI Metals Madagascar Sarl, ("old company 1"), a private company incorporated under the laws of the Republic of Madagascar. In December 2018, a meeting was held, a motion put forward and approved to merge DNI Metals Madagascar Sarl with the new company called DNI Madagascar Vohitsara Sarlu. The permits will be transferred to the new company name. A second motion was put forward and approved to change and replace the management of the old company. The Marofody permit is 100% owned by DNIM Holdings No.1 Sarl ("old company 2"), a private company incorporated under the laws of the Republic of Madagascar. In December 2018, a meeting was held, a motion put forward and approved to merge DNI Holdings No. 1 Sarl with a new company called DNI Madagascar Marofody Sarlu. The permits will be transferred to the new company name. A second motion was put forward and approved to change and replace the management of the old company. DNI has held back filing the final documents until the environmental licenses have been issued. DNI does not want to slow down the issuance of the licenses, since the applications had been filed in the "old" company names. Settlement agreement with Cougar Metals NL ("Cougar") DNI signed a settlement agreement reached with Cougar Metals on September 24, 2018: Details of the Settlement: DNI will pay to Cougar: 1. Eight quarterly payments of C$250,000, starting 6 months from the settlement date or 14 days after DNI's next successful financing; and 2. Two additional payments of C$250,000 will be made in addition to the third and fourth quarterly payments mentioned above. In addition, no security over the Vohitsara property was granted to Cougar. However, if DNI sells an interest in the Vohitsara property of more than 50%, up to C$1 million of the net proceeds of sale will be paid towards the balance owing to Cougar. In that event, if there is still additional monies owing to Cougar, DNI will skip the next two C$250,000 payments. Cougar has sent DNI a letter of default. DNI has until July 25, 2019 to rectify the default. DNI - CSEDMNKF - OTCIssued: 134,402,603 For further information, contact:DNI Metals Inc. - Dan Weir, CEO 416-720-0754DanWeir@dnimetals.comAlso visitwww.dnimetals.com To view the source version of this press release, please visithttps://www.newsfilecorp.com/release/46030
25 Stocks Every Retiree Should Own Getty Images Retirement is a major life milestone, eclipsed only by marriage or the birth of your first child in terms of financial impact. For many, it's an exhilarating leap into the unknown. In your working years, you can take investing setbacks in stride, as portfolio losses can be offset by new savings or working an extra year or two. But once retired, you no longer have that luxury. Your portfolio must last for the the rest of your life, and that of your spouse as well. So, the decision of what retirement stocks you should include your portfolio is an important one. An ideal retirement stock will pay a healthy dividend. As Sonia Joao, president of Houston-based RIA Robertson Wealth Management, explains, "Four out of five of our clients are in or near retirement, and essentially all of them tell us the same thing. They want safe, secure streams of income to meet their living expenses and replace their paychecks." While a good dividend is probably the most important characteristic to look for, it's certainly not the only one. Yields across most asset classes are lower today than in years past, and retirees need growth to stay ahead of inflation. So, while a retirement portfolio should have a large share of income stocks, it also will include some growth names for balance. The following are 25 stocks every retiree should own. This group of retirement stocks includes both pure income plays and growth companies, with a focus on very-long-term performance and durability. SEE ALSO: The Berkshire Hathaway Portfolio: All 48 Buffett Stocks Public Storage Courtesy Mike Mozart via Flickr Market value: $41.3 billion Dividend yield: 3.4% Self-storage real estate investment trust (REIT) Public Storage ( PSA , $236.45) may be the single least sexy stock in the entire Standard & Poor's 500-stock index. If you mention it at a cocktail party, don't expect to be the center of attention. But the boringness is exactly what makes Public Storage such an ideal retirement stock. Self-storage is one of the most recession-proof investments you're ever likely to find. In fact, recessions are often good for the self-storage industry, as they force people to downsize and move into smaller homes or even move in with parents or other family - and their stuff has to go somewhere. Story continues With the economy looking a little wobbly these days, that's something to consider. But there's another angle to this story as well. According to Ari Rastegar - founder of Rastegar Equity Partners, a real estate private equity firm with expertise in the self-storage sector - changes to the broader economy are at work. "Despite unemployment being exceptionally low, wages haven't kept pace with rising prices," Rastegar explains. "This has led to the rise of micro apartments and the general trend of smaller units closer to city centers. All of this bodes very well for the future of the self-storage sector. Your apartment might be shrinking, but you still need to put your personal belongings somewhere." Public Storage has a diversified portfolio of nearly 2,500 properties spread across 38 states and additionally has a significant presence in Europe. While the REIT has kept its dividend constant at $2 per quarter for the past two years, it historically has been a dividend-raising machine. Over the past 20 years, Public Storage has raised its dividend by nearly 10-fold. At current prices, Public Storage yields 3.4%. That's not an exceptionally high yield by any stretch, but it's still better than what you're able to get in the bond market these days - at least not without taking significantly more risk. SEE ALSO: The 19 Best Stocks to Buy for the Rest of 2019 Realty Income Getty Images Market value: $21.5 billion Dividend yield: 3.9% No list of retirement stocks would be complete without a mention of triple-net retail REIT Realty Income ( O , $68.03). If Public Storage is the most boring stock on Wall Street, Realty Income is a close second. The REIT owns a diversified portfolio of more than 5,800 freestanding retail properties in high-traffic locations and spread across 49 states and Puerto Rico. Its tenants include the likes of Walgreens ( WBA ) pharmacies, 7-Eleven convenience stores and LA Fitness gyms. These aren't exactly exciting destination locations, like a resort hotel, but they're places where everyone has to take care of their most basic tasks. Realty Income is a triple-net landlord, which means its tenants pay all taxes, maintenance and insurance costs. Once the property is purchased and let, Realty Income's only real responsibility is to collect the rent checks. Not bad work, if you can find it. Realty Income has hiked its dividend with the precision of a Swiss clock over its life, boosting the payout for 86 consecutive quarters. And it has raised its dividend at a 4.6% annual rate since its 1994 IPO. That's not get-rich-quick money, but it's above the rate of inflation, and exactly the kind of consistency you want to see in retirement stocks. At current prices, Realty Income yields a little under 4%. That's not a monster yield by any stretch, but if history is any guide, it be a little higher every year from now until the end of time. Better still, Realty Income is among several monthly dividend stocks - an added convenience for retirees needing to match their inflows to their regular monthly expenses. SEE ALSO: The 25 Best Low-Fee Mutual Funds to Buy Now National Retail Properties Getty Images Market value: $8.5 billion Dividend yield: 3.8% For the very same reasons, National Retail Properties ( NNN , $52.28) is a solid addition to any retiree's portfolio. Like Realty Income, National Retail Properties is a conservative triple-net retail REIT that invests in free-standing, high-traffic retail properties. Just how deep is the triple-net identity to National Retail? Its ticker symbol - NNN - is shorthand for triple net in the industry. National Retail Properties' diverse portfolio includes nearly 3,000 properties spread across 48 states and 37 industries. Convenience stores, at roughly 18%, make up the single largest share of the portfolio; 7-Eleven is the single largest tenant with a little over 5% of the portfolio. Camping World ( CWH ), Mister Car Wash and AMC Entertainment ( AMC ) movie theaters are among other top 10 tenants. Nothing is truly "Amazon-proof" these days, But National Retail's portfolio is about as close as you can reasonably get. National Retail Properties also isn't a get-rich-quick play. It's a landlord to convenience stores, for crying out loud. But you can feel comfortable putting this stock in your retirement portfolio knowing that it will continue to deliver dividends like clockwork. After all, it has raised its dividend every year for the past 29 years and counting. The world has changed a lot over the past 29 years, and it will no doubt look a lot different 29 years from now. But National Retail likely still will be around ... and still delivering cash to its shareholders. SEE ALSO: The 13 Best REITs to Buy in 2019 LTC Properties Getty Images Market value: $1.8 billion Dividend yield: 5.0% The core of LTC Properties ( LTC , $45.60) can be found right in its name. "LTC" is short for "long-term care," which is exactly the business this REIT is in. LTC owns a diverse portfolio of skilled nursing and assisted living properties spanning 28 states. Approximately 51% of the portfolio is invested in assisted living properties, with most of the remainder invested in skilled nursing properties. LTC Properties is a play on the aging of America's Baby Boomers, which at more than 80 million people represent a population roughly the size of Germany. The Boomers no doubt will put major stress on the system, but they also will create opportunities to profit - such as LTC Properties. Skilled nursing has been a difficult industry in recent years due an unfortunate mix of stingy government reimbursements and unfavorable demographics, as the Baby Boomers are still a couple years away from needing that kind of care. Demand should grow at a very robust rate over the next two decades, however, so it will pay to be patient. LTC's 5% yield is plenty competitive in this market. Also, LTC, like Realty Income, pays its dividend monthly, making it ideal for retirees looking to match their monthly income to their monthly expenses. SEE ALSO: Hedge Funds' 25 Favorite Blue-Chip Stocks American Tower Getty Images Market value: $89.4 billion Dividend yield: 1.7% Here are two questions for you: Do you use more mobile voice and data than you did five years ago? And do you see yourself using less mobile data or voice any time soon? If you're like most Americans, your phone has only become more essential to your life in recent years. That likely won't change at any point in the coming years, maybe ever. That's a trend you can bank on for your retirement money. More mobile usage means more demand for cell towers. And that spells opportunity for tower landlord American Tower ( AMT , $202.30). American Tower is not your ordinary REIT. Instead of owning apartments or warehouse, this REIT owns a diverse portfolio of cell towers spread across the United States, Mexico, South America, India and parts of Europe and Africa. The REIT owns more than 170,000 towers, over 40,000 of which are located in the United States. More than 75,000 are located in up-and-coming India, and Brazil and Mexico account for another 19,000 towers and 9,000 towers, respectively. If you're looking for a company that is future-proof (or at least close to it), American Tower is it. AMT's dividend yield, at less than 2%, is downright low. But this is a stock that raised its dividend literally every quarter since mid-2012. So, what it lacks in yield, American Tower more than makes up in dividend growth - and that will improve your yield on cost over time. SEE ALSO: 33 Ways to Get Higher Yields (Up to 12%!) Prologis Getty Images Market value: $50.4 billion Dividend yield: 2.7% The rise of Amazon.com and e-commerce and general has created the perception that brick-and-mortar real estate is quickly becoming obsolete. That's debatable. Entertainment and service-based industries (everything from a dental practice to a Starbucks) are not affected by the rise of Amazon, and we're a long way from completely replacing physical retail. But let's say for a moment the bears are right about the death of retail. That still would present a fantastic opportunity for a few real estate landlords, such as logistical specialist Prologis ( PLD , $79.92). Prologis is a REIT that deals in warehouse and distribution properties, owing or having significant investments in over 770 million square feet in 19 countries. Among its biggest tenants are heavyweights such as United Parcel Service ( UPS ), FedEx ( FDX ) and Home Depot ( HD ). Prologis also is highly diversified. The United States makes up around 60% of its portfolio, with the rest scattered across Europe, Asia and the rest of the Americas. Its top 25 tenants represent just 19% of its net effective rents. If you believe in the inevitable rise of e-commerce, Prologis is a good way to play that trend while also getting paid a growing dividend. The REIT consistently hikes its payout by about 10% per year. SEE ALSO: 25 Small Towns With Big Millionaire Populations Physicians Realty Trust Getty Images Market value: $3.2 billion Dividend yield: 5.3% Medicine and medical properties are an obvious investment theme in America, but also a tricky one - one that's subject to shifting regulatory landscape. Making it worse, Uncle Sam is ultimately responsible for paying for Medicare and Medicaid patients, and he's proven to be a tough customer. Medicare and Medicaid routinely change their reimbursement rates, often with little warning. So you want to play the trend of increased medical demand due to America's aging population, while avoiding having to handicap the likelihood of getting paid by the government. Medical office properties thread this needle. As the landlord, the underlying profitability of the medical practice isn't your concern. So long as the doctor's office makes enough money to pay its rent, you're good to go. Physicians Realty Trust ( DOC , $17.29) is an interesting way to play this trend. 96% of its portfolio is invested in medical office buildings, with most of the small remainder invested in hospitals. We can't say with any certainty what the economy will look like in 20 years. But it's likely people still will be visiting doctors' offices, and DOC gives us a convenient way to play that trend while collecting a 5.3% dividend. SEE ALSO: 50 Top Stocks That Billionaires Love Enterprise Products Partners LP Getty Images Market value: $63.2 billion Distribution yield: 6.1% If consistency is something you want in a retirement stock, it's hard to find too many stocks that are more consistent than natural gas pipeline operator Enterprise Products Partners LP ( EPD , $28.87). EPD has raised its distribution by between 4% and 6% over the past three years, five years and - you guessed it - 10 years. Enterprise is anything if not consistent, and that's exactly what you want in your retirement stocks. This blue-chip master limited partnership (MLP) went public in 1998, and during the past 20-plus years, it has slowly but steadily grown into an energy infrastructure empire with nearly 50,000 miles of pipelines transporting natural gas and natural gas liquids. Over the long-term, renewable energy sources such as solar and wind will continue to reduce our dependence on fossil fuels. But natural gas will continue to grow as use of petroleum and particularly coal decline. Among traditional fossil fuels, natural gas is the greenest option. And over the retirement timeframe of anyone reading this article, natural gas is likely to be an important part of America's energy infrastructure. Note that, as a master limited partnership, Enterprise Products is best not held in an IRA or other retirement account due to the complexities of unrelated business taxable income (UBTI). * Distributions are similar to dividends but are treated as tax-deferred returns of capital and require different paperwork come tax time. SEE ALSO: How Well Do You Know Dividends? Magellan Midstream Partners LP Courtesy Tony Webster via Flickr Market value: $14.6 billion Distribution yield: 6.3% Magellan Midstream Partners LP ( MMP , $64.05) is one of the few MLPs that can actually compete with Enterprise in terms of sheer quality. But they are different. Unlike Enterprise, which transports mostly natural gas and natural gas liquids, Magellan transports mostly crude oil and refined products. It also has massive storage capacity for more than 60 million barrels of gasoline, crude and diesel. While the MLP space tends to be dominated by "cowboys" that can be somewhat cavalier with risk, this isn't the case with Magellan. MMP has been a model of prudent and conservative growth since it first went public in 2001. Magellan has also done a fine job of taking care of its unitholders (MLPs have "unitholders," not "shareholders"). The company was one of the first to eliminate the incentive distribution rights that favor management over the investors. At current prices, MMP yields an attractive 6.5%, and it has raised that distribution by fully 665% since 2001, or about 15.7% per year. SEE ALSO: 10 Energy Stocks and Funds to Buy for Dividends AND Growth Kinder Morgan Getty Images Market value: $47.3 billion Dividend yield: 4.8% Kinder Morgan ( KMI , $20.88) is one of the largest and longest-operating pipeline companies in America, with over 84,000 miles of pipelines in service. The company was a pioneer in this space and remains one of its most formidable competitors. Among pipeline companies, Kinder Morgan is going to be a little more controversial than Enterprise Products or Magellan Midstream. Unlike its more conservative peers, Kinder got a little too aggressive during the boom years of the early 2010s and frankly borrowed more than it should have to simultaneously boost its capital spending and its dividend. That was a mistake and one that cost the company's shareholders dearly. Kinder Morgan had to slash its dividend in 2015, and its share price today trades at less than half its old all-time high. Yet despite this, Kinder Morgan remains a solid choice for a retirement portfolio. The company learned its lesson in 2015, and it has been managed far more conservatively ever since. Today, Kinder Morgan operates like a "normal" company, funding most of its growth via retained earnings as opposed to dipping into the debt and equity markets. Management isn't keen to repeat the humiliation of cutting its dividend in 2015. So, investors buying today can enjoy an attractive dividend just shy of 5% that should steadily, sustainably grow for years to come. Kinder Morgan raised its dividend by 25% last quarter, and comparable dividend growth is expected over the next year. While Kinder Morgan is a pipeline operator like Enterprise Products and Magellan Midstream, it is organized as a corporation and can be held in a retirement account without any UBTI issues. Walt Disney Getty Images Market value: $254.9 billion Dividend yield: 1.3% It's not a controversial statement these days to say that Netflix ( NFLX ) and its streaming competitors have changed TV viewing habits forever. While the concept of "binging" a show isn't necessarily new, it previously involved weeks of DVR recordings. But today, Netflix has made it ridiculously easy to access multiple seasons of a single show and watch it for days on end. Due in large part to the quality and affordability of streaming services like Netflix, approximately 14% of Americans have "cut the cord," cancelling their paid TV service, and that number only rises with every passing year. But while Netflix may have been the first to blaze this trail, it could be streaming upstart Walt Disney ( DIS , $141.65) that ends up being the biggest beneficiary. Disney is launching its own streaming service, Disney+, later in 2019. And unlike Netflix, Disney doesn't have to spend a fortune on new content. It already had it. Disney benefits from having nearly a century's worth of programming to draw from, and it wouldn't be surprising to see virtually every American household with children subscribing to the service within a couple years of launch. Add to this Disney's traditional amusement parks business and its movies and merchandising businesses, and you have the makings of a future-proof retirement stock. SEE ALSO: 20 of Wall Street's Newest Dividend Stocks Waste Management Getty Images Market value: $49.0 billion Dividend yield: 1.9% Waste Management ( WM , $115.29) does the dirty work for us. You and I don't really want to think about our trash once we leave it at the curb or toss it down the chute. That's exactly why waste collection and processing is big business, and will be, regardless of the state of the economy - people generate a lot of garbage no matter what. And industry leader Waste Management takes it a way. Out of sight, out of mind. Waste Management has a diversified customer base of more than 21 million residential and commercial customers across the U.S. and Canada. No customer accounts for more than 2% of revenue. This also is a green company - a critical political issue in recent years. WM operates 103 recycling facilities and 130 landfill gas-to-energy facilities. Roughly 8,700 of Waste Management's 14,500 routed trucks run on alternative energy, and the company operates 123 natural gas fueling stations. This isn't just good PR; recycling makes up 7% of revenues. The stock currently pays a sub-2% yield, but the dividend grows consistently, and a low payout ratio means there's room for that to continue. That, and the future-proof business model, makes Waste Management a gem of a retirement stock. Amazon.com Getty Images Market value: $946.4 billion Dividend yield: N/A Amazon.com ( AMZN , $1,922.19) is not your typical retirement stock. At all. The company has only been around for a couple decades, and it has mostly built a reputation for being a momentum stock, not a long-term dividend payer. In fact, it doesn't pay a dividend, nor has it telegraphed the idea that it will start one anytime soon. But remember, a retirement stock should be one that you are comfortable holding for years, and it should be largely future-proof. Amazon goes a step further. It's a future creator. It has done more to create the world of e-commerce we live in than any other company. It also turned cloud computing into a massive, profitable business. It's also a groundbreaker in warehousing and distribution logistics, smart speakers and drone technology. If none of that convinces you, that's OK. Just ask yourself: Are you likely to do more of your shopping online or less of your shopping online in the years ahead? If there is any common complaint about Amazon stock, it is simply the price. At 80 times earnings and nearly 4 times sales, Amazon is pricey by any objective measure. But it's also one of the few large companies that could credibly have the potential to grow into a valuation like that if held over the course of 20 or more years. It's also worth noting that Warren Buffett's Berkshire Hathaway ( BRK.B ) recently took a large position in AMZN . If the notoriously conservative Mr. Buffett is comfortable owning Amazon, that says a lot about its maturity as a company. SEE ALSO: The 45 Cheapest Index Funds in the ETF Universe International Paper Getty Images Market value: $17.4 billion Dividend yield: 4.6% The running theme of this list of retirement stocks is finding companies that are future-proof, or at least as close to future-proof as you can get. So, paper seems like an odd choice. But the appeal of International Paper ( IP , $43.75) ties directly to a certain e-retailer from Seattle. You know, the one founded by Jeff Bezos. As e-commerce grows, so grows demand for cardboard packaging. And while environmental activists rightly complain that the amount of cardboard and plastic packaging used per shipment can and should be reduced, shipments still are expected to grow for the foreseeable future - and that ultimately will line the pockets of International Paper. That said, IP is more than just packaging - it also produces fluff pulp for baby and adult diapers and other hygiene products. So you're getting some product diversity. You're also getting a dividend yield well north of 4% on a payout that has been improved every year for a decade. Microsoft Getty Images Market value: $1.0 trillion Dividend yield: 1.4% Author F. Scott Fitzgerald famously wrote that "there are no second acts in American lives." The same can be said of American companies. It is exceptionally rare to find a market-dominating company fall from grace and successfully reinvent itself into a leader in a new market. Microsoft ( MSFT , $135.68) is one of those precious few exceptions. Most people associate Microsoft with operating systems and office productivity software and with good reason. Globally, around 75% of all personal computers run on Microsoft Windows, and Microsoft Office remains the undisputed leader in office software. But these are yesterday's products, and Microsoft spent most of the past decade watching the PC market stagnate while Apple ( AAPL ) and Google parent Alphabet ( GOOGL ) surged ahead in smartphones and tablets. Microsoft essentially missed the mobile era but has since reinvented itself with its cloud services division (Azure) that is now second only to Amazon.com in market share. Microsoft is by no means a cheap dividend stock at today's prices. It yields only 1.4% and trades for nearly 30 times earnings. But if you believe that cloud computing is the future, then owning Microsoft in a long-term portfolio is a sensible move. SEE ALSO: The 5 Highest-Rated Dow Jones Stocks Walmart Getty Images Market value: $315.8 billion Dividend yield: 1.9% Few companies are less interesting than Walmart ( WMT , $110.62). Yes, it's the world's largest retailer as well as its largest private employer. And yes, Walmart has done more to revolutionize retail than any company in history (at least until Amazon came along). But still ... it's Walmart: a boring, utilitarian retailer. But boring doesn't mean stagnant. Walmart has survived, and even thrived, amid an ever-changing consumer landscape. WMT is one of the very few large, mass-market retailers that can even pretend to compete head-to-head with the mighty Amazon.com - that's thanks to smart web purchases such as Jet.com that put a nitro boost into its e-commerce operations. Every week, Walmart serves an average of 275 million customers. That's 84% of the entire U.S. population ... every week. Globally, the company operates 11,300 stores. And its e-commerce business - while still far behind that of Amazon - benefits from the fact that Walmart already has a logistics network in place in the form of its stores and truck fleet that give it an incredible advantage over most rivals. Walmart's dividend yield isn't exactly generous, but it's respectable. That said, WMT is a Dividend Aristocrat that has upped the ante on its payout annually without interruption since 1975. Over the past decade, the company has raised the dividend at a 9.0% annualized clip. Home Depot Getty Images Market value: $231.4 billion Dividend yield: 2.6% Home Depot ( HD , $210.28) is another company that has managed to go toe-to-toe with Amazon.com as Bezos' behemoth has encroached on its territory. The company has lasted in the era of e-commerce by the very nature of its business. Many (perhaps most) home improvement products are messy affairs that involve spur-of-the-moment trips to the hardware store for tools or supplies. The thing is, people who shop at Home Depot don't always know exactly what it is they need to buy. They need to browse the aisles and probably ask an employee for help. All of this makes it very unlikely that Amazon or other e-tailers will gain much in the way of market share. Even if they try, Home Depot is ready for them. They company has a thriving online business of its own with more than 1 million products available. Per its brick-and-mortar presence: Home Depot operates almost 2,300 stores across North America doing nearly $110 billion in revenue. It's a powerhouse company and one that belongs in a diversified retirement portfolio. The housing market will have its ups and downs, but Home Depot has proven its ability to navigate the cycle. SEE ALSO: 5 Safe Ways to Earn 3% McDonald's Courtesy Mike Mozart via Flickr Market value: $157.5 billion Dividend yield: 2.2% McDonald's ( MCD , $206.30) is perhaps one of the most adaptable companies in the history of commerce. The iconic burger chain has been a fixture in American life since the 1950s, and today the company has more than 38,000 restaurants in over 100 countries. And McDonald's has remained so relevant by being willing to make changes when necessary. A couple years ago, it reignited customer interest by offering all-day breakfast. McDonald's is proving its flexibility again by rolling out self-service kiosks in its U.S. locations in response to rising labor costs and a preference by customers to embrace technology. Here's a fun fact about those self-service kiosks: McDonald's has found that customers actually order more when left to their own devices. So this strategy has evolved from pure cost cutting to a broader sales improvement method. McDonald's has raised its dividend for 43 consecutive years and counting and at today's prices yields a respectable 2.2%. McDonald's menu will likely look a lot different in the decades ahead, but it's a safe bet the company will still be alive and kicking and throwing off a reliable dividend - making it a healthy choice for your retirement portfolio. Procter & Gamble Getty Images Market value: $277.1 billion Dividend yield: 2.7% Procter & Gamble ( PG , $110.49) is one of the most ubiquitous companies on the planet - or at least, its brands are among the most ubiquitous. Its stable of billion-dollar brands includes Tide laundry detergent, Crest toothpaste, Pampers diapers, Gillette razor blades and a host of other household names. That's normally all you can ask of a consumer staples company. But its mega-brands have weirdly been a curse in addition to a blessing over the past decade. That's because, following the 2008 meltdown, cash-strapped consumers switched to generic and "white-label" grocery brands - and many have yet to return to higher-priced premium brands. Also, facial hair is more popular these days, crimping razor sales. P&G was taken by surprise, though it has adapted to market conditions by shedding underperforming brands and concentrating its efforts on leveraging its core products. Where the company finds it difficult to compete, it often simply buys the competition, as it did in 2018 when it purchased German Merck KGaA's consumer health division. Procter & Gamble yields a decent 2.9% at current prices. The stock won't provide market-beating growth - at least not for a few years - but it will be alive and kicking well into your retirement. SEE ALSO: 18 Consumer Staples Stocks to Take the Edge Off Your Portfolio Unilever Getty Images Market value: $163.1 billion Dividend yield: 3.1% Anglo-Dutch consumer products company Unilever ( UN , $60.72) also is attractive as a long-term retirement stock and for essentially the same reason. Like Procter & Gamble, Unilever's products are disposable consumer staples that have to be regularly replaced. Some of its most popular brands are Axe body spray, Dove soap, Vaseline petroleum jelly, Hellman's salad dressing, Lipton tea and Ben & Jerry's ice cream. Yet the timelessness of its brands hasn't stopped the company from being innovative. As a direct attack on rival Procter & Gamble's Gillette, Unilever bought discounted razor-blade maker Dollar Shave Club for $1 billion. Cheaper alternatives like Dollar Shave Club have been particularly popular among millennials, potentially setting up Unilever to benefit from decades of brand loyalty. As with much of the market these days, Unilever isn't particularly cheap, trading at around 25 times earnings. But its nearly 3% dividend yield is competitive with Treasury bonds and high-grade corporate bonds. Albemarle Getty Images Market value: $7.5 billion Dividend yield: 2.1% Revolutionary automaker Tesla Motors ( TSLA ) may or may not still be around in five years. The company consistently bleeds cash, can't seem to consistently turn a profit and is overly dependent on the cult of personality surrounding founder Elon Musk. Yet whatever happens with Tesla, the future almost assuredly belongs to electric vehicles. Consumer acceptance of EVs has been slow because, frankly, until very recently, the products were terrible. Prices were high, styling was clunky and performance left something to be desired. Yet Tesla proved that electric cars can be a smash hit with consumers if they are stylish and high-performance vehicles. Traditional automakers have entered the market en masse. European climate regulations all but guarantee demand will massive rise across the European Union in the years ahead, and likely the rest of the world too. China is starting to throw its weight into EVs. Electric vehicles require lithium-ion batteries, which means that demand for mined lithium should only continue to rise. Lithium is arguably the new oil and the most important commodity of the next decade. One of the easiest ways to invest in this long-term trend is by investing in leading lithium miner Albemarle ( ALB , $70.33). Albemarle is more volatile than most of the stocks on this list, as you might expect from a commodity producer. But it's important that retirees have a little growth in their portfolios, and Albemarle allows them to ride the adoption of EVs, which is expected to be one of the more powerful trends of the next 20 years. It's worth noting that Albemarle has had a rough couple of years and is now trading at 2016 prices. It's also at very cheap valuations of 11 times earnings and a price/earnings-to-growth ratio of 0.8 (anything under 1 is considered undervalued compared to its growth prospects). But it might be smart to be patient and let the stock stabilize before making a major investment. After all, if you're looking for a stock to last through your retirement years, you don't have to run out and buy it today. SEE ALSO: 15 Stocks to Buy for an Activist Investor Boost Exxon Mobil Getty Images Market value: $324.1 billion Dividend yield: 4.6% There is a lot of awareness these days about climate change and the desirability of moving away from traditional fossil fuels and towards renewable energy sources such as solar and wind power. Governments and the private sector alike are doing what they can to push us in that direction. Thus, it makes sense to invest in this theme by buying lithium stocks such as Albemarle. But realistically, we're not escaping fossil fuels entirely within the lifetimes of anyone in or near retirement today. A growing global economy needs energy, and fossil fuels - as politically incorrect as they might be - are going to be a big part of the energy grid for the foreseeable future. Among the integrated supermajors, Exxon Mobil ( XOM , $76.56) is the bluest blue chip of the group. It's largest, with a market cap of more than $320 billion, and it's globally diversified. The stock pays a dividend of just under 5%, which is about as high of a yield as you can find outside of the REIT, telecom or tobacco sectors. Exxon Mobil has raised its dividend for an incredible 37 consecutive years and counting. It may not be sexy in the age of Tesla, but it's a reliable dividend payer and a solid retirement stock. Unlike some of the other energy companies mentioned in this article, which get the overwhelming majority of their revenues from midstream energy transportation, Exxon Mobil does have a degree of commodity-price risk. But given the company's size, scale and financial strength, it should be able to survive and thrive regardless of what happens to the price of a barrel of crude oil. Archer Daniels Midland Courtesy Archer Daniels Midland Market value: $23.2 billion Dividend yield: 3.4% Farming is what defines the onset of civilization. So, if you're looking for a stock that is likely to still be around decades or even centuries from now, farm products company Archer Daniels Midland ( ADM , $41.40) is a solid choice. ADM was founded in 1902 and has been a public company since 1924. The company has approximately 500 crop procurement locations and connects crops to markets in all six inhabited continents. In addition to food also produces animal feed and various organics used for industrial and energy applications. As you would expect from a company with Archer Daniels Midland's history, the company has reacted to changing consumer tastes and embraced organic products. Just this year, the company introduced a line of organic flours for use by bakers looking to make organic bread. At current prices, ADM yields more than 3%. And impressively, it has raised its dividend every year since 1976. The stock is down by about 20% from its 2018 highs, as commodity-oriented companies have had something of a rough patch. Still, farming is a critical piece of the economy, and that means companies such as Archer Daniels Midland won't be going anywhere. SEE ALSO: 12 Dividend Stocks That Hedge Funds Love CVS Health Getty Images Market value: $71.4 billion Dividend yield: 3.6% Just about every retail chain in America is, in one way or another, in direct competition with Amazon.com and other internet rivals. Many, as we highlighted earlier, are doing a fantastic job. Others are really struggling. Pharmacy chain CVS Health ( CVS , $54.93) has been particularly innovative is countering the Amazon threat while also providing an attractive solution to the single biggest long-term threat to American prosperity: the rising cost of health care. Years ago, CVS made the decision to open "MinuteClinic" retail health clinics in many of its stores, offering basic medical care for a fraction of the cost of a trip to the doctor's office and without the long waits. Today' CVS is expanding this program via its HealthHUB, a more comprehensive health provider that, in addition to basic clinic services, also offers in-house dieticians and even personalized health concierge services. And naturally, if you're going to a CVS store to have a routine medical checkup or procedure done, you're likely to buy something on your way out the door, whether it be prescription drugs or something more frivolous like a magazine or a box of candy. This is the future of medicine. And today, CVS is very reasonably priced, yielding 3.8%. However, if you're not already invested in CVS Health, you might consider waiting to hear the final result of a federal judge's review of its merger with insurer Aetna before jumping in. The deal has gotten every approval it needs but one - and this surprising wrinkle has stumped Wall Street. A ruling could come as soon as July, so wait for the stock to settle following said ruling before diving in. Union Pacific Getty Images Market value: $121.4 billion Dividend yield: 2.1% The world has changed a lot in the past 120 years. America has added states and fought in two world wars. We saw the rise and fall of fascism and communism. And women won the right to vote. But what hasn't changed that entire time is railroad operator Union Pacific's ( UNP , $171.50) willingness to take care of its shareholders. The company has paid a dividend without interruption for 120 years and counting. That's not a bad run. And it's not likely to be broken any time soon. Union Pacific controls more than 32,000 miles of railways and hauls virtually everything from raw commodities to finished consumer goods. Union Pacific is the American economy. At current prices, Union Pacific yields a respectable 2.1%. If you're looking for a company that will survive and prosper throughout your retirement years - and likely for decades after you're dead and in the ground - then Union Pacific is worth considering. Charles Sizemore was long EPD, KMI, NNN, O and WMT as of this writing. SEE ALSO: The Kiplinger Dividend 15: Our Favorite Dividend-Paying Stocks EDITOR'S PICKS The 19 Best Stocks to Buy for the Rest of 2019 The Berkshire Hathaway Portfolio: All 48 Buffett Stocks The 25 Best Low-Fee Mutual Funds to Buy Now Copyright 2019 The Kiplinger Washington Editors
Introducing MTS Systems (NASDAQ:MTSC), A Stock That Climbed 33% In The Last Three Years Want to participate in ashort research study? Help shape the future of investing tools and you could win a $250 gift card! Low-cost index funds make it easy to achieve average market returns. But if you invest in individual stocks, some are likely to underperform. Unfortunately for shareholders, while theMTS Systems Corporation(NASDAQ:MTSC) share price is up 33% in the last three years, that falls short of the market return. Zooming in, the stock is up a respectable 9.9% in the last year. View our latest analysis for MTS Systems 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 flawed but reasonable way to assess how sentiment around a company has changed is to compare the earnings per share (EPS) with the share price. During the three years of share price growth, MTS Systems actually saw its earnings per share (EPS) drop 0.4% per year. Given the share price resilience, we don't think the (declining) EPS numbers are a good measure of how the business is moving forward, right now. Therefore, it makes sense to look into other metrics. It may well be that MTS Systems revenue growth rate of 10% over three years has convinced shareholders to believe in a brighter future. If the company is being managed for the long term good, today's shareholders might be right to hold on. You can see how earnings and revenue have changed over time in the image below (click on the chart to see the exact values). It's good to see that there was some significant insider buying in the last three months. That's a positive. That said, we think earnings and revenue growth trends are even more important factors to consider. Thisfreereport showing analyst forecastsshould help you form a view on MTS Systems 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. It's fair to say that the TSR gives a more complete picture for stocks that pay a dividend. As it happens, MTS Systems's TSR for the last 3 years was 42%, which exceeds the share price return mentioned earlier. And there's no prize for guessing that the dividend payments largely explain the divergence! It's good to see that MTS Systems has rewarded shareholders with a total shareholder return of 13% in the last twelve months. That's including the dividend. Notably the five-year annualised TSR loss of 1.0% per year compares very unfavourably with the recent share price performance. The long term loss makes us cautious, but the short term TSR gain certainly hints at a brighter future. It is all well and good that insiders have been buying shares, but we suggest youcheck here to see what price insiders were buying at. MTS Systems is not the only stock insiders are buying. So take a peek at thisfreelist of growing companies with insider buying. Please note, the market returns quoted in this article reflect the market weighted average returns of stocks that currently trade on US exchanges. We aim to bring you long-term focused research analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material.If you spot an error that warrants correction, please contact the editor ateditorial-team@simplywallst.com. This article by Simply Wall St is general in nature. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Simply Wall St has no position in the stocks mentioned. Thank you for reading.
Karlie Kloss admits 'it's been hard' having Ivanka and Jared as family due to their differing politics It's a good rule of thumb not to talk politics with family. It’s especially true when you areKarlie Klossand your new in-laws includeIvanka Trumpand Jared Kushner. In BritishVogue’s August cover story, the model and TV host, who justtied the knot— again! — to longtime love Joshua Kushneradmittedthat “it’s been hard” having opposing political views with the MAGA-touting White House advisors. However, Kloss added, “But I choose to focus on the values that I share with my husband, and those are the same liberal values that I was raised with and that have guided me throughout my life.” (Last month, Kloss publicly urged support of Planned Parenthood as states rolled back abortion rights under the Trump administration.) While Trump has been known to comment on Kloss’s Instagram posts, the quartet largely keep their personal relationships out of the spotlight. In fact, Javanka wasn’t even among the guests at the newlywed’s recent second wedding in Wyoming. While the bride and groom yee-hawed it up with guests includingAshton KutcherandScooter Braun, Ivanka and Jaredskipped the big bash. They made a low-key visit days before the festivities started — then Ivanka posted a photo of them in outdoorsy ensembles while the three-day event took place (perhaps so thepublic would think they were there, it’s been speculated). Trump and Jared werereportedlyin attendance at Kloss and Josh’s first wedding, which took place in upstate New York last fall. It’s probably good to keep some distance as the political pair, who have been traveling the globe on behalf of the president, sometimes to abrow-raising degree, are constantly the topic of negative news. The latest is that Congress isinvestigatingtheir long-discussed use of personal email for official government business (despite Trump’s whole “lock her up” narrative related to Hillary Clinton). Between that and Trump looking way out of her league at the G20 Summit, #ivankaresign has been trending Tuesday on Twitter. In Kloss’sVogueinterview, she also talked about converting to Judaism ahead of her first wedding — like Trump did. She also talked about observing Shabbat and disconnecting from the digital world from sunset Friday until nightfall Saturday each week — which Javanka also did, though that presumably ended when they started punching in at the West Wing. Read more on Yahoo Entertainment: • Miley Cyrus fans fat-shame plus-size model from her new video: 'You're praising people killing themselves' • Justin Bieber, Demi Lovato dispute Taylor Swift accusations against Scooter Braun • Mayim Bialik’s positive Pride post spammed with ugly, anti-LGBT comments Want daily pop culture news delivered to your inbox?Sign up herefor Yahoo Entertainment & Lifestyle’s newsletter.
Top Stock Reports for JPMorgan, Thermo Fisher & Broadcom Tuesday, July 2, 2019 The Zacks Research Daily presents the best research output of our analyst team. Today's Research Daily features new research reports on 16 major stocks, including JPMorgan (JPM), Thermo Fisher (TMO) and Broadcom (AVGO). These research reports have been hand-picked from the roughly 70 reports published by our analyst team today. You can seeall oftoday’s research reports here >>> JPMorgan’s shares have gained +6.1% in the past three months, outperforming the Zacks Major Regional Banks industry’s increase of +3.5%. It has an impressive earnings surprise history, having surpassed expectations in three of the trailing four quarters. The Zacks analyst thinks improving loan balance, strong balance sheet (reflected by capital plan approval), branch openings in new markets and focus on strengthening credit card business will support the bank's financials. Expanding its reach into the lucrative U.S. healthcare payments market with a deal to acquire InstaMed will aid profitability. However, dismal mortgage banking performance, mainly due to lower origination volumes and increasing competition is expected to continue hampering fee income growth. The company's dependence on capital markets revenues makes us wary and is expected to hurt revenue growth to some extent. (You canread the full research report on JPMorgan here >>>). Shares ofThermo Fisherhave outperformed the Zacks Medical Instruments industry in the past three months (+6.1% vs. +2.3%). The Zacks analyst thinks Thermo Fisher has recently been demonstrating strength in all end markets categorized by customer type or geography. In the last-reported quarter, the company registered solid international performance with growth in Asia-Pacific including China. A series of product launches aided its performance. The company’s purchase of Brammer Bio in the field of Gene and Cell Therapy is another positive. Thermo Fisher’s Specialty Diagnostics business, even in the face of the recently-completed divestment of its anatomical pathology unit, holds immense potential. The company's 2019 guidance looks encouraging. On the flip side, Thermo Fisher’s operating segments are being hurt by unfavorable business mix. Competitive headwinds and escalating costs are other threats. (You canread the full research report on Thermo Fisher here >>>). Broadcom’s shares have underperformed the Zacks Electronics - Semiconductors industry over the past six months, gaining +24.6% vs. a +33.3% increase. Broadcom is a premier designer, developer and global supplier of a broad range of semiconductor devices. The Zacks analyst thinks the company is benefiting from strong demand for its wireless solutions and expanding product portfolio, which makes it well-positioned to address the needs of rapidly growing technologies like IoT and 5G. Strong ties with leading OEMs across multiple target markets will help the company to gain key insights into the requirements of customers. Further, Broadcom is a leading player in the semiconductor market based on its multiple target markets, accretive acquisitions and strong cash flow. However, the company has lowered its fiscal 2019 revenues outlook. Also, the company faces intensifying competition and integration risks due to frequent acquisitions. The company’s leveraged balance sheet and customer concentration continue to be headwinds. (You canread the full research report on Broadcom here >>>). Other noteworthy reports we are featuring today include Lowe’s (LOW), Marriott (MAR) and Global Payments (GPN). This Could Be the Fastest Way to Grow Wealth in 2019 Research indicates one sector is poised to deliver a crop of the best-performing stocks you'll find anywhere in the market. Breaking news in this space frequently creates quick double- and triple-digit profit opportunities. These companies are changing the world – and owning their stocks could transform your portfolio in 2019 and beyond. Recent trades from this sector have generated +98%, +119%and +164%gains in as little as 1 month. Click here to see these breakthrough stocks now >> Mark VickerySenior Editor Note: Sheraz Mian heads the Zacks Equity Research department and is a well-regarded expert of aggregate earnings. He is frequently quoted in the print and electronic media and publishes the weeklyEarnings TrendsandEarnings Previewreports. If you want an email notification each time Sheraz publishes a new article, pleaseclick here>>> Loan Growth, New Branches Aid JPMorgan (JPM), Mortgage a Woe End-Market Growth, Unit Selloff to Aid Thermo Fisher (TMO) Broadcom (AVGO) Rides on Portfolio Strength & Acquisitions Lowe's (LOW) Dwindling Margins, Soft View Raise Concerns Per the Zacks analyst, Lowe's soft margins and trimmed fiscal 2019 projections raise concern. Nevertheless, it is undertaking necessary pricing and other actions to battle cost-related headwinds. Marriott (MAR) Rides on Unit Growth & Merger Amid Competition The Zacks analyst believes that Marriott's acquisition of Starwood has more than doubled its global presence which should continue to drive revenue growth. Cheniere (LNG) To Gain From Robust Gas Exports Amid High Debt While Cheniere Energy's status as the dominant natural gas exporter in the United States positions it for solid top-line growth, the Zacks analyst is worried about elevated leverage of 93%. Wynn Resorts (WYNN) Rides on Non-Gaming Revenues Amid Debt The Zacks analyst believes that Wynn Resorts is likely to gain from robust non-gaming business and increasing visitation pattern in Las Vegas. However, high debt remains a concern. Cash Flow Growth Aids Leidos (LDOS), Stiff Competition Hurts Per the Zacks analyst, the company's solid cash flows have been boosting overall growth. Cost Cuts Aid Genesee & Wyoming (GWR), Australian Unit Ails The Zacks analyst likes the company's efforts to check costs. Efforts to reward shareholders are encouraging too. Solid Order Trends to Buoy Finisar (FNSR) Despite Trade Woes Per the Zacks analyst, Finisar continues to expand its product line of optical subsystems to meet customers' evolving needs. Inorganic Growth Drives Revenues at Global Payments (GPN) Per the Zacks analyst, numerous buyouts made by the company have accrued to its business. Success in integrating acquired businesses in existing and new markets positions it well for future growth. Agnico Eagle (AEM) to Gain from Actions to Boost Production The Zacks analyst is impressed by Agnico Eagle's efforts to boost its production profile and also believes that it will gain from good progress at its major growth projects. HubSpot (HUBS) Rides on Portfolio Expansion & Collaborations Per the Zacks analyst, HubSpot's expanding portfolio of Hubspot One hold promise. Further, growing customer base, cross-selling opportunities and integration with Shopify & Facebook are key positives. Schneider (SNDR) Hurt by High Costs & Weak Truckload Unit The Zacks analyst is worried about the lackluster performance by the company's truckload segment. Moreover, high operating expenses are hurting the bottom line. FTI Consulting (FCN) Grapples With Rising Cost of Investment The Zacks analyst believes that escalating cost due to increased investment in people is weighing on FTI Consulting's bottom line. Cat Loss Exposure, Rising Costs Hurt CNA Financial (CNA) Per the Zacks analyst, CNA Financial's exposure to cat loss induces volatility in underwriting profits while rising expenses due to high net incurred claims and benefits weigh on margin expansion. undefinedundefinedThermo Fisher Scientific Inc. (TMO) : Free Stock Analysis ReportMarriott International (MAR) : Free Stock Analysis ReportLowe's Companies, Inc. (LOW) : Free Stock Analysis ReportJPMorgan Chase & Co. (JPM) : Free Stock Analysis ReportGlobal Payments Inc. (GPN) : Free Stock Analysis ReportBroadcom Inc. (AVGO) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research
Does TEGNA Inc.'s (NYSE:TGNA) P/E Ratio Signal A Buying Opportunity? Want to participate in ashort research study? Help shape the future of investing tools and you could win a $250 gift card! This article is for investors who would like to improve their understanding of price to earnings ratios (P/E ratios). To keep it practical, we'll show how TEGNA Inc.'s (NYSE:TGNA) P/E ratio could help you assess the value on offer.What is TEGNA's P/E ratio?Well, based on the last twelve months it is 7.84. That corresponds to an earnings yield of approximately 13%. Check out our latest analysis for TEGNA Theformula for P/Eis: Price to Earnings Ratio = Share Price ÷ Earnings per Share (EPS) Or for TEGNA: P/E of 7.84 = $15.22 ÷ $1.94 (Based on the trailing twelve months to March 2019.) A higher P/E ratio implies that investors paya higher pricefor the earning power of the business. That isn't a good or a bad thing on its own, but a high P/E means that buyers have a higher opinion of the business's prospects, relative to stocks with a lower P/E. Probably the most important factor in determining what P/E a company trades on is the earnings growth. Earnings growth means that in the future the 'E' will be higher. That means even if the current P/E is high, it will reduce over time if the share price stays flat. A lower P/E should indicate the stock is cheap relative to others -- and that may attract buyers. TEGNA saw earnings per share decrease by 8.6% last year. But over the longer term (5 years) earnings per share have increased by 5.2%. The P/E ratio essentially measures market expectations of a company. If you look at the image below, you can see TEGNA has a lower P/E than the average (16.4) in the media industry classification. This suggests that market participants think TEGNA will underperform other companies in its industry. Many investors like to buy stocks when the market is pessimistic about their prospects. If you consider the stock interesting, further research is recommended. For example, I often monitordirector buying and selling. The 'Price' in P/E reflects the market capitalization of the company. Thus, the metric does not reflect cash or debt held by the company. The exact same company would hypothetically deserve a higher P/E ratio if it had a strong balance sheet, than if it had a weak one with lots of debt, because a cashed up company can spend on growth. Spending on growth might be good or bad a few years later, but the point is that the P/E ratio does not account for the option (or lack thereof). Net debt totals 88% of TEGNA's market cap. If you want to compare its P/E ratio to other companies, you should absolutely keep in mind it has significant borrowings. TEGNA has a P/E of 7.8. That's below the average in the US market, which is 18.2. Given meaningful debt, and a lack of recent growth, the market looks to be extrapolating this recent performance; reflecting low expectations for the future. 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. So thisfreevisualization of the analyst consensus on future earningscould help you make theright decisionabout whether to buy, sell, or hold. Of course,you might find a fantastic investment by looking at a few good candidates.So take a peek at thisfreelist of companies with modest (or no) debt, trading on a P/E below 20. We aim to bring you long-term focused research analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material.If you spot an error that warrants correction, please contact the editor ateditorial-team@simplywallst.com. This article by Simply Wall St is general in nature. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Simply Wall St has no position in the stocks mentioned. Thank you for reading.
Celebrities at Wimbledon 2019: Kate Middleton, Meghan Markle, Alex Rodriguez and more Wimbledon 2019 is almost over, and more than a few famous faces have been spotted in the stands at Centre Court during the Championships throughout the two-week event. The tennis event's opening day featured the likes of Rebel Wilson, Janelle Monae and former MLB star Alex Rodriguez, whoPage Sixreports watched some matches with former Yankees manager Joe Torre. Duchess of Cambridge Kate Middleton was the first major royal to attend the grand slam tournament,stepping out on the second dayto watch the likes of Serena Williams and Roger Federer. Days later, the Duchess of Sussex arrived, looking glamorous but casual in jeans, a crisp white blazer and an "A" necklace for son Archie. At 84 years old, "Great British Bake-Off" star Mary Berry was one of the best-dressed in attendance as she sported a flower-adorned navy dress and raspberry-colored clutch. Meanwhile, Lottie Tomlinson, the sister of One Direction singer Louis Tomlinson, arrived with her boyfriend, "Made In Chelsea" star Sam Prince. Also making appearances were David Beckham's son, Romeo, and Serena's always-supportive husband, Alexis Ohanian. RELATED: Meghan Markle at Wimbledon in 2019
If You Had Bought Target (NYSE:TGT) Shares Five Years Ago You'd Have Made 45% Want to participate in ashort research study? Help shape the future of investing tools and you could win a $250 gift card! Passive investing in index funds can generate returns that roughly match the overall market. But you can do a lot better than that by buying good quality businesses for attractive prices. For example, theTarget Corporation(NYSE:TGT) share price is up 45% in the last five years, slightly above the market return. Also positive is the 15% share price rise over the last year. Check out our latest analysis for Target To paraphrase Benjamin Graham: Over the short term the market is a voting machine, but over the long term it's a weighing machine. One flawed but reasonable way to assess how sentiment around a company has changed is to compare the earnings per share (EPS) with the share price. During five years of share price growth, Target achieved compound earnings per share (EPS) growth of 5.6% per year. This EPS growth is slower than the share price growth of 7.7% per year, over the same period. This suggests that market participants hold the company in higher regard, these days. And that's hardly shocking given the track record of growth. The company's earnings per share (over time) is depicted in the image below (click to see the exact numbers). Thisfreeinteractive report on Target'searnings, revenue and cash flowis a great place to start, if you want to investigate the stock further. As well as measuring the share price return, investors should also consider the total shareholder return (TSR). The TSR is a return calculation that accounts for the value of cash dividends (assuming that any dividend received was reinvested) and the calculated value of any discounted capital raisings and spin-offs. It's fair to say that the TSR gives a more complete picture for stocks that pay a dividend. We note that for Target the TSR over the last 5 years was 72%, 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 Target has rewarded shareholders with a total shareholder return of 19% in the last twelve months. That's including the dividend. That's better than the annualised return of 11% over half a decade, implying that the company is doing better recently. In the best case scenario, this may hint at some real business momentum, implying that now could be a great time to delve deeper. Before spending more time on Targetit might be wise to click here to see if insiders have been buying or selling shares. If you like to buy stocks alongside management, then you might just love thisfreelist of companies. (Hint: insiders have been buying them). Please note, the market returns quoted in this article reflect the market weighted average returns of stocks that currently trade on US exchanges. We aim to bring you long-term focused research analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material.If you spot an error that warrants correction, please contact the editor ateditorial-team@simplywallst.com. This article by Simply Wall St is general in nature. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Simply Wall St has no position in the stocks mentioned. Thank you for reading.
Joe Biden's backing drops by third in new polls after debate clash with Kamala Harris Joe Biden, left, and Kamala Harris, right, clashing in a debate in Miami between Democratic presidential hopefuls - REUTERS Support for Joe Bidens presidential bid has dropped by a third after he was repeatedly challenged in the first debate between Democrats seeking the party nomination for the next US election, according to two polls. The proportion of Democrats who said they would back Mr Biden, the former US vice president, to be their party's candidate in 2020 dropped from 32 per cent in May to 22 per cent according to a CNN poll. That was mirrored by a surge in support for Kamala Harris, the Californian senator who confronted Mr Biden over his race record at the debate . She has now moved into second place according to the poll. Elizabeth Warren, the Massachusetts senator who was also widely seen to have performed well in the first debates in Miami last week also substantially increased her support. Another poll released on Tuesday by Quinnipiac University showed similar movement, with Mr Biden dropping from 30 per cent support before the debate to 22 per cent and Ms Harris rising to second place on 20 per cent. Polling experts urge caution at over-analysing results, with surges in support after campaign debates often not lasting long and repeated surveys needed to establish a trend. However the sharp change suggests that Mr Biden, who has enjoyed a substantial lead on all rivals to the Democratic nomination over the last two years, is being pegged back. Around 650 Democrat voters or independents leaning that way were asked in the CNN poll to say which candidate they would most likely support for the nomination, with the names being listed randomly. Mr Biden came top with 22 per cent of those asked backing him. He was followed by Ms Harris on 17 per cent, Ms Warren on 15 per cent and Vermont senator Bernie Sanders on 14 per cent. The second night of the Miami debate saw Ms Harris, whose mother is Indian and father is Jamaican, challenge Mr Biden over his historic positions on civil rights issues. Their clash was the stand-out moment of the debates and was repeated often on US cable news channels in the following days. In a separate development, Hunter Biden, Mr Bidens son, has opened up about his struggles with addiction in an interview with The New Yorker magazine, including his use of alcohol and cocaine. The younger Mr Biden said: "Everybody has trauma. Theres addiction in every family. I was in that darkness. I was in that tunnel its a never-ending tunnel. You dont get rid of it. You figure out how to deal with it.
How Do William Lyon Homes’s (NYSE:WLH) Returns On Capital Compare To Peers? Want to participate in ashort research study? Help shape the future of investing tools and you could win a $250 gift card! Today we'll look at William Lyon Homes (NYSE:WLH) and reflect on its potential as an investment. In particular, we'll consider its Return On Capital Employed (ROCE), as that can give us insight into how profitably the company is able to employ capital in its business. First of all, we'll work out how to calculate ROCE. Second, we'll look at its ROCE compared to similar companies. And finally, we'll look at how its current liabilities are impacting its ROCE. ROCE measures the amount of pre-tax profits a company can generate from the capital employed in its business. In general, businesses with a higher ROCE are usually better quality. Overall, it is a valuable metric that has its flaws. Author Edwin Whitingsaysto be careful when comparing the ROCE of different businesses, since 'No two businesses are exactly alike.' Analysts use this formula to calculate return on capital employed: Return on Capital Employed = Earnings Before Interest and Tax (EBIT) ÷ (Total Assets - Current Liabilities) Or for William Lyon Homes: 0.06 = US$143m ÷ (US$2.9b - US$513m) (Based on the trailing twelve months to March 2019.) Therefore,William Lyon Homes has an ROCE of 6.0%. View our latest analysis for William Lyon Homes One way to assess ROCE is to compare similar companies. In this analysis, William Lyon Homes's ROCE appears meaningfully below the 11% average reported by the Consumer Durables industry. This performance is not ideal, as it suggests the company may not be deploying its capital as effectively as some competitors. Aside from the industry comparison, William Lyon Homes's ROCE is mediocre in absolute terms, considering the risk of investing in stocks versus the safety of a bank account. It is possible that there are more rewarding investments out there. Our data shows that William Lyon Homes currently has an ROCE of 6.0%, compared to its ROCE of 4.6% 3 years ago. This makes us wonder if the company is improving. You can click on the image below to see (in greater detail) how William Lyon Homes's past growth compares to other companies. Remember that this metric is backwards looking - it shows what has happened in the past, and does not accurately predict the future. ROCE can be misleading for companies in cyclical industries, with returns looking impressive during the boom times, but very weak during the busts. ROCE is only a point-in-time measure. What happens in the future is pretty important for investors, so we have prepared afreereport on analyst forecasts for William Lyon Homes. Short term (or current) liabilities, are things like supplier invoices, overdrafts, or tax bills that need to be paid within 12 months. Due to the way the ROCE equation works, having large bills due in the near term can make it look as though a company has less capital employed, and thus a higher ROCE than usual. To check the impact of this, we calculate if a company has high current liabilities relative to its total assets. William Lyon Homes has total liabilities of US$513m and total assets of US$2.9b. As a result, its current liabilities are equal to approximately 18% of its total assets. It is good to see a restrained amount of current liabilities, as this limits the effect on ROCE. With that in mind, we're not overly impressed with William Lyon Homes's ROCE, so it may not be the most appealing prospect. Of course,you might find a fantastic investment by looking at a few good candidates.So take a peek at thisfreelist of companies with modest (or no) debt, trading on a P/E below 20. If you like to buy stocks alongside management, then you might just love thisfreelist of companies. (Hint: insiders have been buying them). We aim to bring you long-term focused research analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material.If you spot an error that warrants correction, please contact the editor ateditorial-team@simplywallst.com. This article by Simply Wall St is general in nature. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Simply Wall St has no position in the stocks mentioned. Thank you for reading.
‘Frankenstein’s Monster’s Monster, Frankenstein’ Trailer: Let David Harbour Explain What Is Going On Click here to read the full article. Netflix hasn’t officially declared this July as David Harbour Month, but there’s one more piece of evidence suggesting that it may just happen regardless. The service unveiled the first official extended look at “Frankenstein’s Monster’s Monster, Frankenstein,” a mockumentary with a premise as convoluted as its title. Harbour, who also will be soon seen in the third season of the runaway hit series “Stranger Things,” plays a fictionalized version of himself who finds video evidence of a complicated family history on the stage. Related stories 'Stranger Things': 13 Totally '80s Pop Culture References That Should Be in Season 3 Aziz Ansari's New Stand-Up Special Hits Netflix Next Week, Directed by Spike Jonze In this twisting created family history, Harbour’s dad was a misunderstood acting genius who put on televised productions of theatrical works. One recently excavated tape shows the elder Harbour in a role as the classic literary Dr. Frankenstein, who just so happens to be pretending to be a monster at the same time. This aging actor sure has a Wellesian penchant for impeccable diction, theater adaptations and grainy outtakes of wine commercials. But Harbour (who, unless one of his clones happens to be locked up deep in the vaults underneath Netflix headquarters, seems to be playing “David Harbour, Jr.” as well) isn’t alone in diving into this mysterious past. The guest cast for “Frankenstein’s” also includes Alfred Molina and Kate Berlant. Written by “Kroll Show” co-creator and “Arrested Development” writer John Levenstein and directed by “Who is America?” and “PEN15” director Daniel Gray Longino, this self-contained piece of bizarre comedy experimentation clocks in at a 28-minute runtime. Watch the full trailer (including the only pull quote that makes sense for something like this) below: Story continues “Frankenstein’s Monster’s Monster, Frankenstein” premieres July 16 on Netflix. Launch Gallery: ‘Stranger Things’ Turns High School Upside-Down for Season 3 Red Carpet Premiere – Photos Sign up for Indiewire's Newsletter . For the latest news, follow us on Facebook , Twitter , and Instagram .
Nike's Betsy Ross flag sneaker controversy gets mixed Twitter reaction News that Nike pulled a sneaker that was intended to show patriotism ahead of the Fourth of July incensed people on Twitter Tuesday. Nike asked retailers to return the Air Max 1 Quick Strike Fourth of July shoes without explanation, apparently after NFL quarterback-turned activist Colin Kaepernick told the company it shouldn’t sell the shoe, The Wall Street Journal reported. The shoes featured the American Revolution-era flag with a circle of 13 white stars over the blue background, commonly called the Betsy Ross flag. Kaepernick told Nike that he felt the flag is an offensive symbol because of its connection to a time when slavery was legal in America, according to the report. Republican politicians were quick to jump on the issue on Twitter. Arizona Gov. Doug Ducey went so far as to say that he ordered state officials to withdraw financial incentive money the state was providing to entice Nike to move there. Sen. Ted Cruz said he would stop buying Nike products. Sen. Josh Hawley of Missouri criticized Nike for its history of sweatshop labor. The company was criticized for the practice during the 1990s and faced accusations about labor conditions at its factories as recently as 2017. Of course, it’s just not Twitter if everyone agrees. Actor George Takei raised an issue about Ducey’s prioritization of the Nike funding over other "problems." Others, like activist and author Shannon Watts, raised issues about the way the Betsy Ross flag has been used more recently. Some white nationalists and other groups opposed to racial diversity have used the flag, the Washington Post reported. While Ducey said he was pulling incentive money from Nike, some Democrat politicians like New Mexico Gov. Michelle Lujan Grisham appeared ready to make a deal with Nike. Even Howard Dean, the former Vermont governor and 2004 presidential candidate, said he would “take the Nike plant in Vermont.” Then again, Brad Parscale, the campaign manager for President Trump’s reelection bid, questioned why a company as large as Nike was receiving subsidies anyway. He applauded Ducey’s decision to pull incentive money. Related Articles How Much is Michael Phelps Worth? Ryan Lochte's Brand Value Sinks Amid Rio Scandal Here's How You Get a Body Like An Olympian View comments
The 17 best-selling products from Amazon Prime Day 2018 might surprise you The countdown is on for one of the biggest online shopping events of the year:Amazon Prime Dayis happening this month! While there are a few things that everyone should know about how to shop Amazon Prime Day (click here for the whole scoop), we are looking back at all of the best sellers from 2018 to get some inspiration on what we should add to this year's shopping list. From classic products likeInstant PotsandFire TV Sticksto more unexpected items likesmart plugsandpersonal water filters, scroll through the gallery below to see the best-selling product in each country from last year's Prime Day!
Some CDC Scientist Must REALLY Hate Bitcoin If you’ve typed the word “crypto” into Google’s omniscient search engine during the past several weeks of bitcoin market euphoria, there’s a good chance you’ve been greeted with a headline like this one: Pool Parasite ‘Crypto’ Is On The Rise And Making Swimmers Sick, CDC Warns And there’s an equally good chance that you did a quick double-take before heading over toCoinMarketCapto check the value of your portfolio for the sixth time that morning. Here’s what you might have missed: Its real name isCryptosporidium, but the cool kids call it “crypto.” The Centers for Disease Control and Prevention describes crypto as a “fecal parasite,” which is sure to warm the heart of cantankerous bitcoin nemesisNouriel Roubini. It’s called a fecal parasite because it’sspread through human or animal feces. Crypto is most often contracted by drinking “recreational water.” Like the water inswimming pools. Read the full story on CCN.com.
How Much Does It Cost to Freeze Your Eggs? When Liz Travis Allen decided to freeze her eggs at age 31, she felt like she was taking control of her fertility and her future. For years, she had dealt with chronic autoimmune issues, and she had just exited a relationship. She thought to herself, "I'm 31, single and have a shrinking fertility window," she says. So she went to Pacific Fertility Center in San Francisco to have her eggs frozen and stored. (Her eggs were not impacted by the malfunction that reportedly destroyed thousands of eggs and embryos at the clinic in March, she says.) The total cost, she calculates, was about $18,000, but she was lucky to have good health insurance, which helped cover prescription drug costs, and financial help from her parents and sister. "My parents, who desperately want grandchildren, were like, 'We'll help. Let's figure out what it's going to cost, and we'll help,'" says Allen, who lives in Oakland, California. Now, at 36, Allen says she is hoping to use her eggs within the next couple of years. She still pays about $600 per year to keep her eggs frozen. For women who want to extend their fertility, freezing their eggs is an increasingly popular way to make that happen. Egg freezing, or oocyte cryopreservation, is an option for women who want to delay having children until they find a suitable partner, gain career stability or reach another health or lifestyle milestone. "As women get older, they have fewer eggs to work with," says Dr. Eric Widra, chief medical officer at Shady Grove Fertility, which has locations along the East Coast. The genetic stability of those eggs also declines as women age, so freezing their eggs is a kind of insurance policy -- a way to guarantee that eggs harvested from their ovaries when they're younger will be available for future use. The trade-off is that egg freezing can be costly, with prices typically reaching five figures. Plus, the payoff is unknown: Women who subsequently get pregnant the old-fashioned way may never use their stored eggs. And those who decide to use their frozen eggs will need to budget for additional expenses down the road, including in vitro fertilization, or IVF, and perhaps donor sperm. Health insurance may not cover the procedure unless it's for a specific medical reason, such as to cope with fertility loss resulting from cancer. [ Read: The Cost of Birth Control ] Here's what to know about the cost of freezing eggs. How Much Does It Cost to Freeze Your Eggs? Your out-of-pocket cost to freeze your eggs will range, depending on the clinic you visit, your health insurance benefits, your medical history and the process you use. Expect to pay around $8,000 to $10,000 or more to retrieve your eggs, plus additional fees for preliminary testing, egg storage and medications, including injections you'll self-administer. Story continues Your initial costs will typically be a consultation and preliminary blood work, which could run several hundred dollars and may be covered by insurance. After that, patients should tally the cost of the egg-freezing process, including daily injections and retrieval, which can run around $10,000 or more per cycle. Patients, including older women, may undergo multiple cycles to retrieve sufficient eggs, says Dr. Sigal Klipstein, physician at InVia Fertility Specialists in Chicago and member of the American Society for Reproductive Medicine's Ethics Committee. Annual costs for storage post-retrieval can run about $600. Finally, if the patient chooses to use those eggs, she'll need to factor in the down-the-road cost of in vitro fertilization , and the potential purchase of donor sperm, which can add another five figures to the equation. [ Read: Why Your Long-Term Relationship May Be Harming Your Financial Literacy ] At Shady Grove Fertility, there are four different financial options for women freezing their eggs. For a single cycle of egg-freezing, it costs $9,000, with outside lab testing and medications costing extra. The first five years of this plan includes free storage, which costs $50 per month afterward. Other plans, such as one that guarantees up to 20 mature eggs or up to four cycles of retrieval, costs a $12,500 flat fee, plus medications and outside lab testing, but offers a $4,000 refund if sufficient eggs can be frozen after the first cycle or the patient withdraws from the program before the second cycle begins. Other clinics may charge different fees or offer payment plans, which Widra suggests researching beforehand. "You should be able to go to any commercial place, in my opinion, and find their costs online," he says. [ See: 10 Tips for Couples and Young Families to Build Wealth. ] How Can I Pay Less to Freeze My Eggs? There are a range of options for patients to reduce the upfront cost of freezing eggs, including tapping employee benefits , health insurance and financing programs. Some financing options, such as taking out a loan, come with downsides, while others, such as asking parents for assistance, are not available to everyone. Here are financial options to consider when reducing the cost of egg freezing: Consult your employee handbook. "For someone exploring egg freezing, I'd advise them to first check if their employer offers a fertility benefit that may cover all or a portion of their egg freezing costs," wrote Roger Ma, certified financial planner and founder of lifelaidout in New York City, in an email. While it's not a widely offered benefit, your employer may make it available. Consider health insurance. Check with your health insurance to see if any aspect of the process is covered. "Health insurance can pay for the costs of having your eggs frozen in some circumstances. Unfortunately, most of the time, those circumstances involve cancer," wrote Myles Ma, health care expert for Policygenius, an online insurance sales company, in an email. "A few states require insurers to cover infertility treatments, but only two, Connecticut and Rhode Island, require coverage for egg freezing." You should also check whether cash saved in a flexible spending account or health savings account is eligible. "I believe, in certain cases, when egg freezing is used to treat infertility, it may be considered an eligible medical expense," says Roger Ma. Save up for treatment. This payment strategy offers a bit of a Catch-22 since waiting to save enough money costs precious time. But if you're relatively young or your savings goal isn't far off, consider raising the funds yourself by cutting back on discretionary expenses, prioritizing this treatment over other goals and budgeting carefully. This will negate the need to take on debt or ask friends and family for help. Consider financing options. Depending on the clinic, there may be financing available through a company such as CapexMD to help spread your payments into monthly installments. Keep in mind that financing plans will cost more over time and typically come with interest fees and penalties for late or missed payments. The same thing goes for taking on a personal loan or putting payments on a credit card . The money will be available sooner, but expect to pay more in interest down the road. Talk to your parents. If a parent or grandparent is willing to contribute funds, it can be a savvy way to get the money upfront. In fact, if your parents pay the fertility center directly, it can help them with estate planning. Payments made directly to medical facilities don't count against the annual gift tax exemption, which is capped at $15,000, and can help parents avoid future estate taxes. More From US News & World Report 8 Big Budgeting Blunders -- and How to Fix Them 9 Secrets to Save Money on a Shoestring Budget 10 Expenses Destroying Your Budget View comments
Anderson Cooper's large inheritance: A look at the tax obligations CNN host Anderson Cooper is set toinheritmost of the assets of his mother – fashionista and actressGloria Vanderbilt– after she died last month at the age of 95. While Vanderbilt’s other son, Chris Stokowski, will inherit a residence in midtown Manhattan, “all the rest” of her property will go to Cooper, 52, according to the will – viewed by The New York Post. It is unknown exactly what Cooper is set to inherit. It is believed his mother left behind property, art, jewelry and other personal items. The good news for Cooper? He will not be subject to any estate tax consequences, Christina Baltz, a partner in the private client and tax team at Withers, told FOX Business. Instead, Vanderbilt’s estate will pay those taxes. The estate will also pay any inheritance taxes. The even better news is that if Cooper were to sell any of his mother’s assets, the items' cost basis would be raised to fair market value. That means, for example, if his mother bought a piece of jewelry for $100 – and it is now worth $500 – Cooper’s cost basis would be $500 and he could sell it for that amount without having to pay capital gains, Baltz said. Vanderbilt’s fortune was widely estimated to be valued at $200 million, though Cooper told Howard Stern during a radio interview about 5 years ago that hedidn’t expectto inherit it. “I don’t believe in inheriting money. I think it’s an initiative sucker. I think it’s a curse,” Cooper said. “Who has inherited a lot of money that has gone on to do things in their own life? From the time I was growing up, if I felt that there was some pot of gold waiting for me, I don’t know that I would’ve been so motivated.” However, Cooper will be subject to taxes on any income his inheritance generates. Ideally, if Cooper wanted to disclaim his fortune, Vanderbilt would have included a clause in her will that stipulated if Cooper were not to survive her, his inheritance would go to another specified individual, Baltz said. Cooper could also donate to charity, which would allow him to claim an income tax deduction. He can also give $11.4 million worth of assets away without having to pay gift taxes, Baltz said. CLICK HERE TO GET THE FOX BUSINESS APP There are potential downsides for the prominent journalist, however. Cooper tends to be a private person, and the public death of his mother has thrust him – and his wealth – directly into the public view. “People will know he’s worth a lot, and whatever comes with that may or may not be positive,” Baltz noted. Vanderbilt was related to railroad pioneer Cornelius Vanderbilt. She died from stomach cancer on June 17. Related Articles • How Much is Michael Phelps Worth? • Ryan Lochte's Brand Value Sinks Amid Rio Scandal • Here's How You Get a Body Like An Olympian
Jervois Mining Limited: eCobalt Merger Update and Response to First Cobalt's Self-Serving and Misleading Opposition Vancouver, British Columbia--(Newsfile Corp. - July 2, 2019) - Jervois Mining Limited (ASX: JRV) (TSXV: JRV) ("Jervois" or "the Company") is pleased to provide an update regarding its merger with eCobalt Solutions Inc. (TSX: ECS) ("eCobalt") (the "Merger"), as well as address First Cobalt Corp.'s ("FCC") press release dated 26 June 2019, containing FCC's self-serving and misleading opposition to the Merger. On 2 April 2019, Jervois and eCobalt entered into an arrangement agreement (the "Arrangement Agreement") pursuant to which the companies proposed to combine on the basis of an at-market merger. The eCobalt Merger will be completed by way of a Plan of Arrangement under theBusiness Corporations Act(British Columbia) and requires the approval of both Jervois and eCobalt shareholders. Jervois has called a meeting of its shareholders to vote on the eCobalt Merger, which will be held on 18 July 2019 at 1100 (AEST) on Level 18, 101 Collins Street, Melbourne, Victoria, Australia. eCobalt shareholders will vote on the Merger at a meeting on 19 July 2019 at 1000 (CPST) in Vancouver, Canada. Prior to announcing the eCobalt Merger, the Arrangement Agreement was unanimously approved by the Board of Directors of both Jervois and eCobalt. FCC's Self-Serving and Misleading Opposition to the Merger On 26 June 2019, FCC issued a press release making false and misleading claims about the eCobalt Merger. In response, eCobalt has reaffirmed that the Merger is in the best interests of eCobalt shareholders and that its shareholders should VOTE FOR the Merger at the upcoming 19 July 2019 eCobalt shareholder meeting and addressed FCC's false and misleading opposition to the Merger. eCobalt's response can be accessed on its website at:https://www.ecobalt.com/news/news-releases/ecobalt-urges-shareholders-to-vote-in-favour-of-je-20190627. Jervois feels it appropriate that it also respond to FCC's false and misleading opposition to the Merger. FFC's false claim eCobalt shareholders will be diluted As a result of the combination of eCobalt and Jervois, eCobalt shareholders will gain exposure to the transformative potential of East Africa and to the inherent value embedded in Jervois' Nico Young nickel-cobalt project, which once in operation will be one of Australia's largest suppliers of nickel-cobalt products to the nascent battery sector. Jervois is in advanced negotiations with the Governments of Uganda and Tanzania over the Kilembe copper-cobalt mine / Kasese Cobalt Refinery and Kabanga nickel-cobalt deposits respectively, all of which are tier 1 opportunities that typically wouldn't be available to junior mining companies. After the Merger, eCobalt shareholders will benefit from the leadership of a seasoned executive team with a track record for developing complex international projects and with deep experience in exploration, financing, construction, commissioning and operations. Unlike FCC's management team, who are junior mining company promoters; Jervois's principals are mine operators who have developed, built and operated major mines, smelters and refineries globally.We see the Idaho Cobalt Project ("ICP") as an important part of the future of the company resulting from the Merger ("New Jervois") as a major international company focused on battery metals; a company which current eCobalt shareholders will own a significant part of should they approve the Merger. FCC false claim the Merger does not advance the ICP, either technically or financially Jervois brings one of the most experienced and capable management teams assembled in the junior mining space. With Jervois, we are looking to repeat what we have done before, specifically, the Company's principals were part of founding management teams in: • Xstrata plc: listed at £2 billion at IPO in 2002 and sold for US$46 billion to Glencore plc in 2013; • Reliance Mining Ltd: A$30 million at IPO in 2003 and sold to Consolidated Minerals for A$120 million less than two years later; and • Silver Lake Resources Limited: A$32 million at IPO in 2007, current market capitalisation of A$1 billion. The Jervois team is highly experienced in base metal mining, processing and refining businesses from project development and construction, commissioning and operations. Many of Jervois's executives have developed and run the largest mining and mineral processing sites in the sector. The global mining companies where we built our careers are industry leaders for the implementation of operating best practice systems, procedures and practices for health and safety, environment, local content, community engagement and sustainability. Unlike FCC, we will pay our suppliers in Idaho the cash they are owed for their services, and not force them to accept repayment in shares due to inability to pay an invoice (refer to FCC press announcement dated 8 May 2019 on page 2;https://www.firstcobalt.com/_resources/news/20190508.pdf). Jervois agrees with FCC that an ability to access capital in this market environment should be an important deliberation for eCobalt shareholders. The ICP has been delayed enough - it is time for the project to be built in order to be well positioned for the next rebound in cobalt prices. The Merger between Jervois and eCobalt will allow this to happen. eCobalt shareholders will gain access to Jervois's ability to access capital at times when other mining companies cannot. This is evidenced by the Company's recently oversubscribed financing of A$16.5 million, which was executed at apremiumto its trading price. Jervois has the requisite technical strength and access to capital in order to progress the ICP into production; FCC simply has neither. Uganda, Nico Young, Jervois's management team location and an ASX listing Uganda is a country that has experienced three decades of political stability, and contains enormous potential given its similar geology and physical location adjacent to the mineral rich but politically unstable Democratic Republic of Congo ("DRC"). As part of a portfolio of assets, Jervois believes it is important for investors to gain exposure to the exceptional geological opportunity that parts of Africa represent; however, only as part of a carefully balanced portfolio, that commensurately balances risk and reward. To say that one should not venture into Africa in search of cobalt when the vast majority of the world's cobalt supply is sourced from there, is essentially acknowledging that one will never become a globally significant and strategic supplier to Western World customers in the emerging electrification trend in transportation. The key to investing in Africa is to undertake this in a sensible, measured way, where the risks are understood, mitigated where possible, and appropriately priced where not. For context, approximately 10% of New Jervois ownership, and value contribution, relates to Uganda. The Nico Young nickel-cobalt heap leach project in New South Wales, Australia, will absorb no financial resources of New Jervois in coming years - all future funding will be accessed via third parties. Partnering and off-take negotiations are advancing and Jervois expects to secure funding on acceptable commercial terms. Nico Young represents a valuable call option on higher nickel and cobalt prices - when they return. Jervois's team is global and our Board of Directors and management team are actively engaged in the business. Our General Counsel is based in Toronto, Canada. Upon the completion of the eCobalt Merger, two out of five New Jervois Directors will be based in North America. The majority of New Jervois' executive management team is also domiciled in North America - EGM Corporate Affairs, CFO / EGM Finance and General Counsel / EGM Legal. Jervois's team has spent significant time in Idaho since the Merger was announced in early April. The required scope of work to finalise the feasibility study ("FS") underpins our recent capital raise. New Jervois will assemble a high calibre operational team that will be based at the ICP in Idaho and not Toronto or Muskoka, like FCC's management team and Board of Directors. Given that Jervois just executed a A$16.5 million oversubscribed placement on the ASX, it is hard to argue that access to an ASX listing is not positive for eCobalt shareholders. In contrast FCC has announced it will no longer be listed on the ASX. FCC's misleading argument that eCobalt should remain independent If eCobalt remains independent, it lacks the financial resources to advance the ICP. FCC is not proposing any alternative way to move the ICP forward and lacks the financial capacity to do so. The time to build the mine is now - during the downturn - so that the facility is commissioning at a time of rising commodity prices. Placing the ICP on care and maintenance and shutting down the site, so that the large amounts of capital invested to date is wasted, is a terrible economic outcome for eCobalt shareholders.Jervois has proven it has the ability to raise money in this challenging market and is capable of moving the ICP into production to maximise eCobalt shareholder value. FCC's misleading claims about its mothballed Ontario refinery FCC has made a number of claims relating to its closed Ontario refinery that are simply untrue. It states that based on the published results of eCobalt's ICP FS and an FCC refinery desktop study (which was prepared by Primero Group Ltd ("Primero"), an Australian engineering firm), FCC believes that eCobalt could eliminate most of the capital associated with the construction of a new refinery in the United States via using FCC's mothballed Ontario facility. Clearly FCC management either didn't read or couldn't understand Primero's desktop report, which is available to eCobalt shareholders and the public on FCC's website at:https://www.firstcobalt.com/_resources/reports/First_Cobalt_Refinery_Desktop_Cost_Estimate_10_09_2018.pdf. At the envisaged concentrate production rates from the smaller scope ICP of 800 tonnes per day ("tpd") ore processing (Case 3 of 45tpd and Case 4 of 50tpd concentrate through-put respectively), Primero concluded the capital to rebuild the mothballed site was between US$100 and US$105 million to produce cobalt carbonate, a discounted intermediate product requiring further refining. This is broadly equivalent to the US$129 million cost estimated by eCobalt to build a dedicated brand-new facility within the United States producing cobalt sulphate heptahydrate crystals, a final product sold directly to battery manufacturers. Primero noted that any change in the FCC refinery to produce cobalt sulphate will require more capital. In addition, transportation costs of concentrate from the ICP to FCC's mothballed Ontario facility (3,400 kilometres away) and higher refinery operating costs (approximately double that of a new facility in Idaho, again based on the Primero desktop report commissioned by FCC) will largely negate any potential savings in capital. It is also important to note that Primero's study is at desktop level - i.e. not even at scoping level definition, despite misleading FCC statements to the contrary. Specifically, Primero state "…the [desktop] study has been conducted at a very high level, and the costs will require further refinement prior to a final investment decision. The brownfields nature of the project requires a more in-depth assessment than a desktop study can realistically provide."The upside risk to Primero's desktop capital cost estimate was estimated at +50%, highlighting the lack of underlying project definition that FCC was either unwilling or unable to pay for. Further, eCobalt has also publicly announced that it is updating the FS basis to 1,200 tpd ore processing, which is expected to lead to around 60-70 tpd of concentrate production from the ICP. This exceeds the potential refinery processing capacity of FCC's Ontario facility under the highest production scenario reviewed by Primero and would also require redesign to the by-product circuits to support increased copper and gold recovery. The current FCC permitted tailings facility at its mothballed refinery is an unlined earthen wet tailings facility constructed over two decades ago with limited records of materials contained. It requires careful review to assess its compliance with acceptable standards in construction, maintenance and closure planning. The tailings pond is of insufficient size for the refinery to serve as a repository for the life of the ICP as published in the last FS released by eCobalt, let alone the expanded production scenario currently advancing with the support of Jervois's technical team.Contrary to FCC claims, the refinery and tailings facility are not fully permitted for processing or discharge of the specific type and volume of feed and waste that would be generated from ICP concentrates. For the recent 'study' on recommissioning the closed site based on third-party material from the DRC, as FCC didn't like the technical facts presented by Primero, they engaged Ausenco Engineering Canada Inc. ("Ausenco"). Due to FCC's financial incapacity to pay for thorough technical advice, Ausenco completed an indicative desktop review within weeks. Significant further work is required, of far greater depth and robustness, to confirm the technical, economic and ethical validity of a business case of reopening the shuttered refinery on DRC raw material supply.Ausenco specifically highlighted that the scope of their desktop review was conceptual and did not cover the economic viability of rebuilding and reopening the closed refinery. The Ausenco report did not consider ICP concentrate feed supply, only cobalt hydroxide from the DRC. Jervois and eCobalt Merger Rationale Finally, Jervois would like to take this opportunity to remind eCobalt shareholders of the key highlights of the Merger. Merger highlights include: • Friendly combination leading to an enlarged company with greater scale, liquidity and diversification with re-rating potential; • Combined company to have an Australian, East African and United States project pipeline that includes the ICP, the highest combination of cobalt grade and scale in North America; New Jervois will be the premier cobalt investment vehicle globally; • New Jervois to be run by an experienced management team with a proven track record of successfully developing, building and operating major mines, smelters and refineries globally; • Increased capital markets exposure through listings in Australia and Canada, greater institutional following and research coverage; • After closing of the eCobalt Merger, New Jervois to be well capitalized on the back of Jervois's recently oversubscribed financing of A$16.5 million; and • 19.05% of eCobalt's outstanding shares are committed to vote in favor of the eCobalt Merger, comprised of 14.65% of eCobalt shares under voting and support agreements and Jervois's 4.40% holding of eCobalt's shares. Jervois believes this announcement provides clarity to all relevant stakeholders, including eCobalt shareholders, in relation to FCC's false and mis-leading claims made to advance its own self-serving agenda. As a long-time eCobalt shareholder itself, Jervois is fully committed to the development of the ICP and to create value for the benefit of all shareholders. For further information, please contact: Investors and Analysts: Bryce CrockerChief Executive OfficerJervois MiningEmail:bcrocker@jervoismining.com.au Media: Nathan RyanNWR CommunicationsEmail:nathan.ryan@nwrcommunications.com.auTel: +61 420 582 887 Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Qualified Person's Statement The technical content of this news release, as it relates to eCobalt, has been reviewed and approved by Darby Stacey, P. Eng, Process Manager of eCobalt and a qualified person as defined by National Instrument 43-101. Competent Person's Statement The information in this release that relates to Exploration Results and Mineral Resources is based on information compiled by David Selfe who is full time employee of the company and a Member of the Australasian Institute of Mining and Metallurgy. David Selfe has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which they are undertaking to qualify as a Competent Person as defined in the 2012 Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves'. David Selfe consents to the inclusion in the release of the matters based on their information in the form and context in which it appears. Cautionary Note Regarding Forward-Looking Statements This news release contains forward-looking statements, which relate to future events or future performance and reflect management's current expectations and assumptions. Such forward-looking statements reflect management's current beliefs and are based on assumptions made by and information currently available to Jervois and publicly available information. Forward-looking statements often address our expected future business and financial performance and financial condition, and often contain words such as "anticipate", "intend", "plan", "will", "would", "estimate", "expect", "believe", "target", "indicative", "preliminary", or "potential". All statements, other than statements of historical fact, included herein including, without limitation, statements or information about the integration of the business of eCobalt into the Jervois organization, the anticipated benefits from the merger with eCobalt, expectations of daily production from the ICP and the cost of building dedicated refining facilities for ICP ore, expectations regarding future exploration, licensing, development, growth and potential of New Jervois' operations, projects and investments, statements pertaining to mineral resource estimates, Jervois' ongoing, financing, off-take and partnering process in respect of the Nico Young nickel-cobalt project, future opportunities associated with or in relation to projects in Africa, Jervois' expectations with respect to commodity prices, and information relating to the future allocation of capital resources are forward looking statements. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. These risk factors include, among others: risks associated with the business of Jervois and eCobalt; risks related to the integration of eCobalt into the Jervois organization following completion of the merger; risks related to reliance on technical information provided by Jervois and eCobalt; risks relating to exploration and potential development of Jervois' and eCobalt's projects; business and economic conditions in the mining industry generally; the supply and demand for labour and other project inputs; prices for commodities to be produced and changes in commodity prices; changes in interest and currency exchange rates; risks relating to inaccurate geological and engineering assumptions (including with respect to the tonnage, grade and recoverability of mineral resources); risks relating to unanticipated operational difficulties (including failure of plant, equipment or processes to operate in accordance with specifications or expectations, cost escalation, unavailability of materials and equipment, government action or delays in the receipt of government approvals, industrial disturbances or other job action, and unanticipated events related to health, safety and environmental matters); risks relating to adverse weather conditions; political risk and social unrest; changes in general economic conditions or conditions in the financial markets; and other risk factors as detailed from time to time and the additional risks identified in Jervois' and eCobalt's filings with Canadian securities regulators on SEDAR in Canada (available at www.sedar.com) and with the Australian Securities Exchange in Australia (available atwww.asx.com.au). These forward-looking statements are made as of the date hereof and, except as required under applicable securities legislation, Jervois does not assume any obligation to update or revise them to reflect new events or circumstances. To view the source version of this press release, please visithttps://www.newsfilecorp.com/release/46029
A Look At The Fair Value Of Match Group, Inc. (NASDAQ:MTCH) Want to participate in ashort research study? Help shape the future of investing tools and you could win a $250 gift card! Today we will run through one way of estimating the intrinsic value of Match Group, Inc. (NASDAQ:MTCH) by estimating the company's future cash flows and discounting them to their present value. This is done using the Discounted Cash Flow (DCF) model. Don't get put off by the jargon, the math behind it is actually quite straightforward. We generally believe that a company's value is the present value of all of the cash it will generate in the future. However, a DCF is just one valuation metric among many, and it is not without flaws. If you want to learn more about discounted cash flow, the rationale behind this calculation can be read in detail in theSimply Wall St analysis model. View our latest analysis for Match Group We are going to use a two-stage DCF model, which, as the name states, takes into account two stages of growth. The first stage is generally a higher growth period which levels off heading towards the terminal value, captured in the second 'steady growth' period. To start off with, we need to estimate the next ten years of cash flows. Where possible we use analyst estimates, but when these aren't available we extrapolate the previous free cash flow (FCF) from the last estimate or reported value. We assume companies with shrinking free cash flow will slow their rate of shrinkage, and that companies with growing free cash flow will see their growth rate slow, over this period. We do this to reflect that growth tends to slow more in the early years than it does in later years. A DCF is all about the idea that a dollar in the future is less valuable than a dollar today, so we need to discount the sum of these future cash flows to arrive at a present value estimate: [{"": "Levered FCF ($, Millions)", "2020": "$682.9m", "2021": "$855.2m", "2022": "$1.2b", "2023": "$1.4b", "2024": "$1.6b", "2025": "$1.7b", "2026": "$1.9b", "2027": "$2.0b", "2028": "$2.1b", "2029": "$2.2b"}, {"": "Growth Rate Estimate Source", "2020": "Analyst x7", "2021": "Analyst x5", "2022": "Analyst x2", "2023": "Analyst x2", "2024": "Est @ 13.55%", "2025": "Est @ 10.3%", "2026": "Est @ 8.03%", "2027": "Est @ 6.44%", "2028": "Est @ 5.33%", "2029": "Est @ 4.55%"}, {"": "Present Value ($, Millions) Discounted @ 9.1%", "2020": "$626.0", "2021": "$718.5", "2022": "$890.6", "2023": "$979.4", "2024": "$1.0k", "2025": "$1.0k", "2026": "$1.0k", "2027": "$995.4", "2028": "$960.9", "2029": "$920.8"}] ("Est" = FCF growth rate estimated by Simply Wall St)Present Value of 10-year Cash Flow (PVCF)= $9.2b The second stage is also known as Terminal Value, this is the business's cash flow after the first stage. For a number of reasons a very conservative growth rate is used that cannot exceed that of a country's GDP growth. In this case we have used the 10-year government bond rate (2.7%) to estimate future growth. In the same way as with the 10-year 'growth' period, we discount future cash flows to today's value, using a cost of equity of 9.1%. Terminal Value (TV)= FCF2029× (1 + g) ÷ (r – g) = US$2.2b × (1 + 2.7%) ÷ (9.1% – 2.7%) = US$35b Present Value of Terminal Value (PVTV)= TV / (1 + r)10= $US$35b ÷ ( 1 + 9.1%)10= $14.84b The total value is the sum of cash flows for the next ten years plus the discounted terminal value, which results in the Total Equity Value, which in this case is $24.00b. The last step is to then divide the equity value by the number of shares outstanding.This results in an intrinsic value estimate of $85.38. Compared to the current share price of $68.91, the company appears about fair value at a 19% discount to where the stock price trades currently. The assumptions in any calculation have a big impact on the valuation, so it is better to view this as a rough estimate, not precise down to the last cent. We would point out that the most important inputs to a discounted cash flow are the discount rate and of course the actual cash flows. If you don't agree with these result, have a go at the calculation yourself and play with the assumptions. The DCF also does not consider the possible cyclicality of an industry, or a company's future capital requirements, so it does not give a full picture of a company's potential performance. Given that we are looking at Match Group as potential shareholders, the cost of equity is used as the discount rate, rather than the cost of capital (or weighted average cost of capital, WACC) which accounts for debt. In this calculation we've used 9.1%, which is based on a levered beta of 1.069. Beta is a measure of a stock's volatility, compared to the market as a whole. We get our beta from the industry average beta of globally comparable companies, with an imposed limit between 0.8 and 2.0, which is a reasonable range for a stable business. Valuation is only one side of the coin in terms of building your investment thesis, and it shouldn’t be the only metric you look at when researching a company. The DCF model is not a perfect stock valuation tool. Rather it should be seen as a guide to "what assumptions need to be true for this stock to be under/overvalued?" If a company grows at a different rate, or if its cost of equity or risk free rate changes sharply, the output can look very different. For Match Group, I've compiled three pertinent factors you should further examine: 1. Financial Health: Does MTCH have a healthy balance sheet? Take a look at ourfree balance sheet analysis with six simple checkson key factors like leverage and risk. 2. Future Earnings: How does MTCH's growth rate compare to its peers and the wider market? Dig deeper into the analyst consensus number for the upcoming years by interacting with ourfree analyst growth expectation chart. 3. Other High Quality Alternatives: Are there other high quality stocks you could be holding instead of MTCH? Exploreour interactive list of high quality stocksto get an idea of what else is out there you may be missing! PS. Simply Wall St updates its DCF calculation for every US stock every day, so if you want to find the intrinsic value of any other stock justsearch here. We aim to bring you long-term focused research analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material.If you spot an error that warrants correction, please contact the editor ateditorial-team@simplywallst.com. This article by Simply Wall St is general in nature. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Simply Wall St has no position in the stocks mentioned. Thank you for reading.
Is First Financial Corporation (NASDAQ:THFF) Excessively Paying Its CEO? Want to participate in ashort research study? Help shape the future of investing tools and you could win a $250 gift card! Norm Lowery has been the CEO of First Financial Corporation (NASDAQ:THFF) since 2004. This analysis aims first to contrast CEO compensation with other companies that have similar market capitalization. Next, we'll consider growth that the business demonstrates. And finally - as a second measure of performance - we will look at the returns shareholders have received over the last few years. This process should give us an idea about how appropriately the CEO is paid. See our latest analysis for First Financial At the time of writing our data says that First Financial Corporation has a market cap of US$496m, and is paying total annual CEO compensation of US$1.9m. (This number is for the twelve months until December 2018). We think total compensation is more important but we note that the CEO salary is lower, at US$680k. As part of our analysis we looked at companies in the same jurisdiction, with market capitalizations of US$200m to US$800m. The median total CEO compensation was US$1.7m. That means Norm Lowery receives fairly typical remuneration for the CEO of a company that size. This doesn't tell us a whole lot on its own, but looking at the performance of the actual business will give us useful context. The graphic below shows how CEO compensation at First Financial has changed from year to year. First Financial Corporation has increased its earnings per share (EPS) by an average of 6.6% a year, over the last three years (using a line of best fit). In the last year, its revenue is up 10%. This revenue growth could really point to a brighter future. And, while modest, the earnings per share growth is noticeable. So while performance isn't amazing, we think it really does seem quite respectable. It could be important to checkthis free visual depiction ofwhat analysts expectfor the future. With a total shareholder return of 21% over three years, First Financial Corporation shareholders would, in general, be reasonably content. But they would probably prefer not to see CEO compensation far in excess of the median. Remuneration for Norm Lowery is close enough to the median pay for a CEO of a similar sized company . We see room for improved growth, as well as fairly unremarkable returns over the last three years. But we don't think the CEO compensation is a problem. If you think CEO compensation levels are interesting you will probably really likethis free visualization of insider trading at First Financial. Arguably, business quality is much more important than CEO compensation levels. So check out thisfreelist of interesting companies, that have HIGH return on equity and low debt. We aim to bring you long-term focused research analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material.If you spot an error that warrants correction, please contact the editor ateditorial-team@simplywallst.com. This article by Simply Wall St is general in nature. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Simply Wall St has no position in the stocks mentioned. Thank you for reading.
Did Middlesex Water Company (NASDAQ:MSEX) Insiders Sell 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 inMiddlesex Water Company(NASDAQ:MSEX). It's quite normal to see company insiders, such as board members, trading in company stock, from time to time. However, such insiders must disclose their trading activities, and not trade on inside information. We would never suggest that investors should base their decisions solely on what the directors of a company have been doing. But logic dictates you should pay some attention to whether insiders are buying or selling shares. For example, a Harvard Universitystudyfound that 'insider purchases earn abnormal returns of more than 6% per year.' Check out our latest analysis for Middlesex Water In the last twelve months, the biggest single sale by an insider was when the Chairman, Dennis Doll, sold US$199k worth of shares at a price of US$49.71 per share. So it's clear an insider wanted to take some cash off the table, even below the current price of US$59.36. As a general rule we consider it to be discouraging when insiders are selling below the current price, because it suggests they were happy with a lower valuation. Please do note, however, that sellers may have a variety of reasons for selling, so we don't know for sure what they think of the stock price. It is worth noting that this sale was only 4% of Dennis Doll's holding. Over the last year, we note insiders sold 17696 shares worth US$956k. Middlesex Water insiders didn't buy any shares over the last year. You can see the insider transactions (by individuals) over the last year depicted in the chart below. If you click on the chart, you can see all the individual transactions, including the share price, individual, and the date! If you like to buy stocks that insiders are buying, rather than selling, then you might just love thisfreelist of companies. (Hint: insiders have been buying them). The last three months saw significant insider selling at Middlesex Water. Specifically, insiders ditched US$344k worth of shares in that time, and we didn't record any purchases whatsoever. In light of this it's hard to argue that all the insiders think that the shares are a bargain. I like to look at how many shares insiders own in a company, to help inform my view of how aligned they are with insiders. We usually like to see fairly high levels of insider ownership. Insiders own 3.7% of Middlesex Water shares, worth about US$36m. This level of insider ownership is good but just short of being particularly stand-out. It certainly does suggest a reasonable degree of alignment. Insiders haven't bought Middlesex Water stock in the last three months, but there was some selling. And even if we look to the last year, we didn't see any purchases. But since Middlesex Water is profitable and growing, we're not too worried by this. Insiders own shares, but we're still pretty cautious, given the history of sales. So we'd only buy after careful consideration. If you are like me, you may want to think about whether this company will grow or shrink. Luckily, you can check thisfreereport showing analyst forecasts for its future. If you would prefer to check out another company -- one with potentially superior financials -- then do not miss thisfreelist of interesting companies, that have HIGH return on equity and low debt. 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.
Von der Leyen: pro-EU fixture in Merkel's Cabinets BERLIN (AP) Ursula von der Leyen, a surprise choice to become the next head of the European Commission, is a strong supporter of closer European cooperation who has been Germany's defense minister since 2013 and a fixture in Chancellor Angela Merkel's Cabinet over the longtime leader's nearly 14 years in power. Von der Leyen, 60, was born in Brussels and spent her early years in the Belgian capital. She speaks fluent English and French, having studied at the London School of Economics in the 1970s and lived in Stanford, California, from 1992 to 1996. She was long viewed as a potential successor to Merkel, but has had a tough tenure at the head of the notoriously difficult defense ministry and had long since faded out of contention by the time Merkel stepped down last year as leader of her center-right Christian Democratic Union party. Still, von der Leyen a medical doctor and mother of seven played a significant role in modernizing the image of her party during the Merkel years, over which it dominated the political middle ground. As minister for families in Merkel's first Cabinet from 2005 to 2009, she introduced benefits encouraging fathers to look after their young children. Von der Leyen then served as labor minister until 2013, when she became Germany's first female defense minister. In that job, she championed greater European cooperation. "Europe won't get ahead in the game of global powers if some discreetly hold back when military deployments come up and others rush ahead without consulting," she said shortly after taking over the defense ministry. She followed that up by declaring that "it's important that Germany takes more responsibility within our alliances within the European alliance and within NATO." Shortly after Britain voted to leave the European Union in 2016, she said that Brexit offered the bloc an opportunity to press ahead with greater military cooperation. Story continues "Britain consistently blocked everything that had Europe written on it," von der Leyen said. She argued that closer military ties between member states could help ease the frustration many voters feel about the EU's inability to tackle major issues. In a defense policy review issued at the same time, the government said citizens of other EU countries could be allowed to serve in the German army. In an interview with news magazine Der Spiegel in 2011, as the eurozone debt crisis rumbled, von der Leyen declared a loftier goal for Europe. "My aim is the United States of Europe on the model of federal states such as Switzerland, Germany or the U.S." She said that Europe could use its "size advantage" on financial, taxation and economic questions. Von der Leyen has presided recently over increased German military spending, though it still falls well short of the 2% of gross domestic product that the United States wants to see from its NATO partners. Members of the alliance agreed in 2014 to "aim to move toward" increasing defense spending to 2% of GDP by 2024, though Germany has said it doesn't expect to meet that goal. Merkel said Tuesday that von der Leyen "enjoys great confidence" among European leaders, pointing to her involvement in a NATO force in the Aegean Sea during the migrant influx, Germany's help in patrolling the airspace of Baltic countries and her commitment to Europe. Von der Leyen comes from a political family and is the daughter of a former governor of her home state of Lower Saxony, Ernst Albrecht, who before that was a senior European civil servant. She has been a deputy leader of Merkel's CDU since 2010. Over the years, she was often talked about as a potential successor to Merkel, though she herself publicly dismissed such talk. "In every generation, there is one chancellor," she said in 2013. "In my generation, that is Angela Merkel." In her time as defense minister, von der Leyen faded out of speculation about the succession. Inheriting a military in the midst of a massive change from conscription to a professional force, she increasingly had to deal with negative headlines of her own and others' making. The poor state of the German military's equipment has been a regular issue. Other problems included questions over the appointment of external experts to the military and the ballooning costs of the renovation of a military sailing ship. Von der Leyen herself irked soldiers in 2017 by declaring that the military had a "problem with its stance" and "leadership weakness at various levels," criticism that followed the arrest of a soldier alleged to have passed himself off as a Syrian refugee and planned to attack prominent political figures then pin the blame on migrants. Merkel's junior coalition partners in Berlin, the center-left Social Democrats, weren't impressed with the nomination of von der Leyen or the overall package put together Tuesday by EU leaders. Merkel said she abstained in EU leaders' otherwise-unanimous nomination of von der Leyen because of the lack of unity at home. A former Social Democrat leader, ex-European Parliament president Martin Schulz, tweeted that she "is the weakest minister here."
Beyoncé shares gorgeous photo promoting 'The Lion King' It was just another Tuesday when Beyoncé shook up the internet — as she’s been known to do — with a simple, stunning post. No caption. No detailed background. Just a shot of her standing face-to-face with Nala, the lion cub character she voices in the upcoming live-action version of The Lion King . View this post on Instagram A post shared by Beyoncé (@beyonce) on Jul 2, 2019 at 8:00am PDT While Beyoncé’s new promo photo was one of several the studio released ahead of the movie, it was the one that attracted the most attention. The star’s followers immediately knew what to do, and they didn’t disappoint. Not only had more than 2.7 million people “liked” her post within an hour, but they just as quickly began sharing their own jokes and memes. Beyoncé is coming pic.twitter.com/yr59OPjV2k — Meredith Grey (@tutuzondo) July 2, 2019 Nala and Miss Tina are the only beings alive who are allowed to look Beyoncé in the face. pic.twitter.com/re2xluSJyg — R. Eric Thomas (@oureric) July 2, 2019 This looks like they’re about to drop a power ballad about the same lion cheating on them pic.twitter.com/ytUzRIgcqA — Marc (@MarcSnetiker) July 2, 2019 This Lioness got a lot of nerves starring at the Queen @Beyonce straight in the eyes like this?!! Like Who are you?!? 🧐🙄 #LionKing pic.twitter.com/bC60Br6ZDI — Armel ADG 🇧🇮 (@armelADG) July 2, 2019 you know that poster where a kitten looks in the mirror and sees a lion? when a lion looks in the mirror they see beyoncé pic.twitter.com/CGyg86hDUY — stuck-up (@iamfuturetense) July 2, 2019 Beyoncé: “Simba” Beyoncé: "are you with me Lions?" Me: pic.twitter.com/qVG1VBsC1e — Tamara. (@bey_lacra) July 2, 2019 There was also plenty of straight-up enthusiasm for the beloved artist and the much-anticipated flick. Story continues Beyoncé herself has said that she’s excited for her own family, including 7-year-old daughter Blue Ivy and twins Rumi and Sir, 2, to experience the story that she enjoyed watching as she was growing up. Yall just don't know what my heart did when I seen this picture!! I'm so ready for this ‼‼‼‼‼‼ @Beyonce @disneylionking pic.twitter.com/z0QcJX2lWf — Queenembailey \| (@EmBailey4eva) July 2, 2019 I can literally hear Beyoncé singing circle of life!!!! I’m already shook — pusseecat (@pusseecat) July 2, 2019 i am on this earth for one thing and one thing only...to hear beyoncé on the new lion king soundtrack :) — kenz eva (@kenzeva) July 2, 2019 I fully think imma start bawling when I hear Beyoncé speak in lion king 😭 fully the highlight of my life — tyrone (@tyroneedover) July 2, 2019 Fans don’t have much longer to wait. The digital version of the soundtrack, filled with new and favorite songs from the 1994 animated version of the movie sung by Beyoncé and other cast members, is available July 11. The track listing shows that, for her part, Beyoncé will sing at least a rendition of “Can You Feel the Love Tonight?” with actor Donald Glover’s character, Simba. The movie, which also features the voices of Keegan-Michael Key, Amy Sedaris, Seth Rogen and others, arrives in theaters on July 18. Read more on Yahoo Entertainment: Hear Beyoncé Knowles-Carter for first time as Simba's bae Nala in new 'Lion King' teaser The big meaning behind Demi Lovato's tiny, new tattoo Jake Gyllenhaal argues Sean Paul 'makes every song better,' delighting the internet Want daily pop culture news delivered to your inbox? Sign up here for Yahoo Entertainment & Lifestyle's newsletter.
Rapinoe out of US starting lineup, keeper change for England LYON, France (AP) — Megan Rapinoe was not in the starting lineup for the United States in the Women's World Cup semifinal match against England on Tuesday night. Rapinoe has two goals in each of the last two games for the United States and five for the tournament. She shares the lead for most goals at the World Cup with three others, including teammate Alex Morgan and England's Ellen White. Rapinoe did not participate in pregame warm-ups. U.S. Soccer did not give a reason for the change. Christen Press started on the wing in front with Morgan and Tobin Heath. Coach Jill Ellis did not change her backline of Crystal Dunn, Becky Sauerbrunn, Abby Dahlkemper and Kelley O'Hara. Lindsey Horan started in the midfield after coming off the bench in Friday night's victory over France, along with Rose Lavelle and Julie Ertz. Alyssa Naeher started in goal for the United States. England also made a big change, replacing goalkeeper Karen Bardsley with Carly Telford. Bardsley has a hamstring injury. Bardsley had not allowed a goal in England's last four matches in France. Defender Rachel Daly and forward Beth Mead both started after coming off the bench in England's quarterfinal victory over Norway.
UPDATE 1-Brazil power company Light approves 2 bln reais share offering (Adds shares performance, overallotment) RIO DE JANEIRO, July 2 (Reuters) - Brazilian power company Light SA has approved a primary and secondary share offering valued at over 2 billion reais ($521 million), which sent the company's shares down nearly 5% on Tuesday. According to a securities filing late on Monday, which confirmed a Reuters report earlier in the day, Light has approved a primary offering of 100 million new shares and 11.1 million shares owned by power company Cemig. Given Light's Monday closing price on the Sao Paulo stock exchange of 18.85 reais per share, the total value of the offering comes to 2.09 billion reais. Light primarily operates in the electricity distribution sector in the Rio de Janeiro metropolitan area. Cia Energetica de Minas Gerais SA, as Cemig is formally known, currently has a 49.99% stake in the firm. If shares in overallotments are sold, Cemig will also offer an additional 22.2 million shares. As a consequence, its stake could be reduced to nearly 34%. Reuters reported on Monday afternoon that Light was preparing the offering to reduce debt. The company ended March with a net debt of 8.2 billion reais, which is equivalent to 3.7 times its earnings before interest, taxes, depreciation and amortization (EBITDA). The offer will be led by Banco Itau BBA SA, with Citibank, Banco Santander Brasil SA, Banco Bradesco SA , BB Investimentos, XP, and Banco BTG Pactual SA also coordinating the offering. The new shares are scheduled to begin trading on July 15. ($1 = 3.84 reais) (Reporting by Gram Slattery Editing by Chizu Nomiyama)
Wikipedia founder calls for social media strike to protest power of giants like Facebook Larry Sanger, co-founder of Wikipedia (Photo by Ulli Winkler/ullstein bild via Getty Images) The founder of Wikipedia has called for a global social media strike to protest against privacy breaches and the power of companies such as Facebook. Larry Sanger, a co-founder of the online encyclopedia, wants internet users to stop using services such as Facebook and Twitter from July 4 to July 5. Sanger wrote in a blog post: 'This means we will not use social media on those days, except to post notices that we are on strike. Were going to make a lot of noise. READ MORE Thug jailed for beating man to death as he celebrated his birthday 'Nobody will be able to ignore whats happening. Were going to flex our collective muscles and demand that giant, manipulative corporations give us back control over our data, privacy, and user experience.' Sanger describes his strike as a Declaration of Digital Independence, and calls for a different approach to the use of user data. PARIS, FRANCE - MAY 10: Founder and CEO of Facebook Mark Zuckerberg leaves after a meeting with French President Emmanuel Macron (not seen) at the Elysee Palace in Paris, France on May 10, 2019. (Photo by Mustafa Yalcin/Anadolu Agency/Getty Images) Sanger calls for services such as Facebook to be interoperable (ie so posts could be visible across several services) and not to hoard user data. Sanger wrote, 'Each of us individually owns our own data. Each of us individually controls it, just as we have control over our email, text messages, and blogs. 'It can be totally private, courtesy end-to-end encryption, or totally public; the choice is up to us.' 'Social media services [should] stop acting as silos but become interoperable. If we make a post on one service, it can appear on another service. Watch the latest videos from Yahoo UK
What the Heck Is a Margarita Burn—And How Do You Treat It? Believe it or not, a gnarly hangover isn’t the worst thing that could come from indulging in margaritas this summer. If you’ve never had a margarita burn, consider yourself lucky—phytophotodermatitis is extremely painful. But what exactly is a margarita burn? Here’s everything you need to know about the chemical reaction , including how to treat and prevent it. What Is Phytophotodermatitis? Phytophotodermatitis (also called margarita burn or lime burn) occurs when certain fruits or vegetables and UV light come in contact with your skin at the same time. The resulting chemical burn ain’t pretty: View this post on Instagram When plants are not your friends! #phytophotodermatitis #dontknowwhichonecausedit A post shared by woldistel (@woldistel) on Jul 1, 2018 at 9:58am PDT View this post on Instagram PSA 📢 In case you didn’t know (bc I sure as shit didn’t) if your child or you are playing with a lime in the sun (hello margaritas), wash their hands/face/body or it could result in Phytophoto dermatitis; which is a burn. Burns on babies SUCK! #PSA #TwinMama #TwinB #Phytophotodermatitis #Awareness #TheMoreYouKnow #SharingToHelpOthers A post shared by Elizabeth Rucinski (Wells) (@mrsr85) on Jun 10, 2019 at 10:57am PDT View this post on Instagram A 20yo woman presented in moderate distress with extensive painful blisters and swelling of the hands and fingers that had developed overnight. The night before, the patient had squeezed several #limes before dinner to make a pitcher of limeade. She then had used a personal tanning bed for 10 minutes and had gone to bed. She awoke that morning with redness, swelling, #blisters, and a painful tingling and burning on her hands. What’s your diagnosis? Comment below and read the discussion at http://ow.ly/nt9m30fsSOi. #CONdermatology #dermatology #skincondition #CONpain #pain #Phytophotodermatitis A post shared by Consultant360 (@consultant360) on Sep 27, 2017 at 8:05am PDT Once the swelling subsides, the blisters can leave dark marks that last for months. Story continues Though the reaction can be caused by most citrus fruits , limes are one of the most common offenders —and you can probably guess why. Margaritas and sunshine are a match made in heaven, so most people don’t think twice about cutting up a lime or two before soaking up some rays. How Do You Prevent Margarita Burns? AlexRaths/Getty Images If you thought we were going to tell you not to drink margaritas this summer, you obviously don’t know us at all. Just take a precaution or two before you head out into the sunlight. Three words can save your skin this summer: Wash your hands . Like really, really wash them with soap and water. Just rinsing isn’t enough. Heck, on a pair of gloves before slicing your limes couldn’t hurt either. And don’t forget, limes aren’t the only offenders. Make sure to wash up after handling any citrus fruit, celery, figs, fennel , or even parsnips. How Do You Treat Margarita Burns? Tim Grist Photography/Getty Images Hindsight is 20/20 and, let’s be real, if you Googled “margarita burn” you’re likely already suffering from painful blisters. For mild burns, over-the-counter medications like aspirin and ibuprofen will likely to the trick. Moderate and severe burns may require topical steroidal creams, oral corticosteroids, or antihistamines . One very important thing to remember: We’re MyRecipes , not WebMD. If you’re worried about your burn, go to the doctor . Margarita Recipes WATCH : How to Make 3 Amazing Margaritas Does all this talk about chemical burns have you in the mood for margs? We’ve got you covered—just be careful. Easy Margaritas for a Crowd Watermelon-Mint Margarita Super Skinny Margarita Salted Melon Margarita Pops Apple Cider Margarita
Ethereum Leaders Are Slowly Courting Persian Gulf Royals and Investors Ethereum’s leaders are pursuing a “moonshot” in the Middle East. The Ethereum Foundation’s head of special projects, Virgil Griffith, told CoinDesk the nonprofit is partnering with finance experts in the Persian Gulf to show that the world’s second largest blockchain is compatible with Islamic law. Islamic finance customs adhere to certain beliefs, including the prohibition of earning interest on loaned funds. The move is seen as a first step toward potentially securing investment from the region’s plutocrats. Related:Metronome Now Lets Users Move Tokens Between Blockchains “My job is to keep rolling dice,” Griffith told CoinDesk about work to certify ethereum’sSharia compliance. “Probably nothing will happen. But there’s a hypothetical case where say, the Saudi sovereign wealth fund invests, like, a trillion dollars [in ethereum projects], which would be a real boon. That would be really great.” Wan Hafizi Halim, an Islamic finance expert at Amanie Advisors in Dubai, told CoinDesk his firm issued a paper saying ethereum smart contracts can be halal, or compliant with Islamic banking rules. Wan Hafizi said the research was conducted at the behest of the Ethereum Foundation, which is spearheaded by ethereum creator Vitalik Buterin. “What we did with ethereum was just to provide the guidelines,” Wan Hafizi told CoinDesk. “Any companies that wish to fundraise in Muslim countries, they can also approach Sharia scholars to assess their projects to see if they are compliant from end-to-end. … With the Sharia certification they obtain, that could provide some clarities and convince Muslim investors to participate and invest.” Saudi Arabia’sPublic Investment Fund (PIF), led by controversial Crown Prince Mohammed bin Salman,reportedlymanages investments worth $300 billion. Griffith called this certification effort a “moonshot” with high upside if it works and low downside if it doesn’t. Yet it may not be far-fetched to imagine Middle Eastern royals investing in ethereum projects. Related:Golem Execs Depart to Pursue ‘Riskier’ Research With New Non-Profit A cryptocurrency trader in Saudi Arabia with knowledge of the local regulatory authorities, who asked to remain anonymous because trading is currentlyforbiddenin the Kingdom, told CoinDesk that Saudi leaders are interested in using ethereum for “national projects that will help the economy.” “Most blockchain development here happens on ethereum,” he said. “People are still pretty cautious and only testing things out.” In the meantime, venture studio ConsenSys, which is led by ethereum co-founder Joseph Lubin, has been establishing connections with governments in the Persian Gulf as well. PIF, the Saudi sovereign wealth fund, has been in touch with ConsenSys, according to a source with knowledge of the matter. Still, it remains to be seen if Saudi royals will invest directly in any ethereum project. ConsenSys also confirmed that talks with the PIF explored opportunities to invest in ConsenSys through the purchase of equity as part of the company’s effort to raise$200 millionin venture capital. ConsenSys has existing projects in the region outside of Saudi Arabia. In Dubai, ConsenSyspartneredwith local authorities on plans to help Sheikh Mohammed bin Rashid Al Maktoum make Dubai “the first city fully powered by blockchain by 2021.” Through a partnership with theEmirates Integrated Telecommunications Company, ConsenSys explored opportunities for digital permits and an automated “process of attesting any document by governmental entities.” Rami Maalouf, the ConsenSys director leading efforts in the Middle East and North Africa, told CoinDesk there are currently 30 staff members in Dubai working on Smart Dubai projects, which are scheduled for launch by the end of 2019. “Several conversations are underway with both private- and public-sector players in Dubai and the Gulf Cooperation Council as well,” Maalouf said. “The traction we are seeing is very encouraging as the understanding and appetite for investment in blockchain technology is accelerating.” Ethereum Foundation liaisonAtif Yaqub, partner at the London-based crypto and real estate firm UKP Assets, told CoinDesk that ConsenSys isn’t involved in his current partnership with Amanie Advisors to develop an ethereum platform for issuing Sharia-compliant financial products and services. Yaqub’s project, which he plans to spin out into a separate startup later this year, involves cooperation with the foundation and Griffith’s blockchain industry contacts but is not currently funded by the EF. Regardless, Yaqub said the work he’s doing with Griffith could benefit other startups, including Lubin’s ConsenSys investments, down the road. “An Islamic institute or a government, if they were to engage and create a product, first they would look to see about this ethereum thing, what is it? Is it permissible for us to use within our structure? That part is already there,” Yaqub said, adding: “If they [Muslim leaders] were to engage with ConsenSys, or anybody … if there’s already an ecosystem, or somebody developing a [compliant] ecosystem, it’s much easier for them to engage.” Update (July 3, 17:10 UTC):This article was updated to include statements from ConsenSys. Saudi Prince Mohammad bin Salmánimage via Shutterstock • ConsenSys Spin-Out 3Box Raises $2.5 Million to Build ID Tools for Dapp Devs • Opera’s Browser With Built-In Crypto Wallet Launches for iPhones
Ursula von der Leyen: Who is the nominee for European Commission President and what is her stance on Brexit? German defence minister Ursula von der Leyen has been nominated to become the next President of the European Commission . Surprise choice Ms von der Leyen is a strong supporter of close EU ties and a close ally of Angela Merkel , whose Cabinet she has served in for the Chancellor’s entire time in power. European Council President Donald Tusk announced the news Tuesday after hours of talks that exposed deepening divisions among member states. France's Christine Lagarde has been proposed for the presidency of the European Central Bank, Belgium's Charles Michel for European Council president and Spain's Josep Borrell for EU foreign policy chief. But what is Ms von der Leyen’s background and what happens following the nominations? German Defence Minister Ursula von der Leyen attends a debate on '70 Years German Constitution' of the German federal parliament, Bundestag (AP) Who is Ursula von der Leyen? Ms von der Leyen, 60, was born in Brussels and spent her early years in the Belgian capital. She speaks fluent English and French, having studied at the London School of Economics in the 1970s and lived in Stanford, California, from 1992 to 1996. A medical doctor and mother of seven, she comes from an aristocratic family known as silk merchants and industrialists. She is the daughter of a former governor of her home state of Lower Saxony, Ernst Albrecht, who before that was a senior European civil servant. French President Emmanuel Macron, watches German Defense Minister Ursula von der Leyen, left, French Defense Minister Florence Parly and Spanish Defense Minister Margarita Robles, right, during a signature ceremony (AP) What is her background in politics? Ms von der Leyen is the only minister to serve in Angela Merkel’s Cabinet for her entire tenure as Chancellor, which began in 2005. As minister for families in Merkel's first Cabinet from 2005 to 2009, she introduced benefits encouraging fathers to look after their young children. Ms von der Leyen then served as labour minister until 2013, when she became Germany's first female defence minister. She was long viewed as a potential successor to Merkel, but has had a tough tenure at the head of the notoriously difficult defence ministry and had long since faded out of contention by the time Merkel stepped down last year as leader of her center-right Christian Democratic Union party. Story continues Still, von der Leyen played a significant role in modernizing the image of her party during the Merkel years, over which it dominated the political middle ground. German Chancellor Angela Merkel smiles as she talks to the press after the EU leaders struck a deal on the bloc's top jobs (AFP/Getty Images) What is her stance on Brexit? Shortly after Britain voted to leave the European Union in 2016, Ms von der Leyen said that Brexit offered the bloc an opportunity to press ahead with greater military cooperation. She said: "Britain consistently blocked everything that had Europe written on it.” Ms von der Leyen argued that closer military ties between member states could help ease the frustration many voters feel about the EU's inability to tackle major issues. She also said her aim was a “United States of Europe - on the model of federal states such as Switzerland, Germany or the U.S." She said that Europe could use its "size advantage" on financial, taxation and economic questions. Ursula von der Leyen is surrounded by German forces Bundeswehr soldiers in Aerzen, Germany (AP) What happens next? Ms von der Leyen might have been nominated to become the next head of the European Commission, but her appointment must still be approved by the European Parliament. The European Commission is the bureaucratic arm of the European Union, with 32,000 employees working to write and enforce EU legislation. The nominations came after one of the longest summits in recent years, outstripping even all-night negotiations during the Greek debt crisis. If confirmed, Ms von der Leyen would replace Jean-Claude Juncker, who has held the post since 2014.
The Boyd Gaming (NYSE:BYD) Share Price Is Up 120% And Shareholders Are Boasting About It Want to participate in a short research study ? Help shape the future of investing tools and you could win a $250 gift card! When you buy a stock there is always a possibility that it could drop 100%. But when you pick a company that is really flourishing, you can make more than 100%. For instance, the price of Boyd Gaming Corporation ( NYSE:BYD ) stock is up an impressive 120% over the last five years. And in the last month, the share price has gained -1.7%. But this could be related to good market conditions -- stocks in its market are up 7.5% in the last month. Check out our latest analysis for Boyd Gaming While markets are a powerful pricing mechanism, share prices reflect investor sentiment, not just underlying business performance. 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, Boyd Gaming became profitable. Sometimes, the start of profitability is a major inflection point that can signal fast earnings growth to come, which in turn justifies very strong share price gains. The image below shows how EPS has tracked over time (if you click on the image you can see greater detail). NYSE:BYD Past and Future Earnings, July 2nd 2019 This free interactive report on Boyd Gaming's earnings, revenue and cash flow is a great place to start, if you want to investigate the stock further. What About Dividends? As well as measuring the share price return, investors should also consider the total shareholder return (TSR). The TSR incorporates the value of any spin-offs or discounted capital raisings, along with any dividends, based on the assumption that the dividends are reinvested. It's fair to say that the TSR gives a more complete picture for stocks that pay a dividend. In the case of Boyd Gaming, it has a TSR of 124% for the last 5 years. That exceeds its share price return that we previously mentioned. And there's no prize for guessing that the dividend payments largely explain the divergence! Story continues A Different Perspective While the broader market gained around 8.4% in the last year, Boyd Gaming shareholders lost 21% (even including dividends). Even the share prices of good stocks drop sometimes, but we want to see improvements in the fundamental metrics of a business, before getting too interested. Longer term investors wouldn't be so upset, since they would have made 17%, each year, over five years. If the fundamental data continues to indicate long term sustainable growth, the current sell-off could be an opportunity worth considering. Most investors take the time to check the data on insider transactions. You can click here to see if insiders have been buying or selling. But note: Boyd Gaming may not be the best stock to buy . So take a peek at this free list of interesting companies with past earnings growth (and further growth forecast). Please note, the market returns quoted in this article reflect the market weighted average returns of stocks that currently trade on US exchanges. We aim to bring you long-term focused research analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. If you spot an error that warrants correction, please contact the editor at editorial-team@simplywallst.com . This article by Simply Wall St is general in nature. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Simply Wall St has no position in the stocks mentioned. Thank you for reading.
Ahead of AMD’s 7nm GPUs/CPUs Launch, This Top Analyst Remains Sidelined on the Stock Advanced Micro Devices (AMD) has had quite the first half to the year. Its stock has skyrocketed 61% higher as the company continues to show its technological prowess by upgrading its products, unveiling new ones and showing the tech world that it is a force to be reckoned with. For example, in May AMD announced its new line of Ryzen 7nm processors (set to launch next week), of which the 16-core 3950x has demolished its Intel counterpart in a performance test while taking up less energy and being sold at a lower cost. Further, the company was selected by the US Department of Agriculture alongside supercomputer company Cray to build what will be the world’s most powerful supercomputer. However, while Deutsche Bank'sRoss Seymoreincreased his price target on shares of AMD from $20 to $25, he remains unconvinced with a Hold rating. As always, we like to give credit where credit is due. According to TipRanks, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Ross Seymore has a yearly average return of26.4%and an82%success rate. Seymore is ranked#22out of 5,223 analysts. While AMD is expected to release its brand-new 7nm CPU and GPUs, marking what is expected to be a serious boost to its product line, the 3950x isn’t expected to be sold until September. Seymore says the delay allows Intel to “continue to enjoy success at the high-end for some time.” Intel, for its part, is expected to release its 10nm CPU next year, but the company continues to face development challenges, giving way for AMD to improve its market share. On gaming, Seymore sees a continued threat from Nvidia, which generates about half of all revenue from this segment. The analyst says, “depending on the details regarding Nvidia Super, we could see a path to such growth, but it will likely be at the expense of AMD's market share in addition to further normalization in demand trends.” But while Nvidia is expected to see only a slight growth in revenue, Seymore “forecast[s] +35% q/q growth in GPUs in 3Q and another +30% growth in 4Q” for AMD. All in all, the biggest takeaway for many on Wall Street is AMD’s increasing threat to rival Intel, which it is doing by improving and adding new products to its lineup.TipRanks analysisof 21 analyst ratings shows a consensus Moderate Buy rating with 13 analysts saying Buy and 8 suggesting Hold. Yet, the consensus price target shows caution baked into expectations here. The 12-month average price target of $32.22 reflects only 3% upside from current levels. Read more on AMD: • There’s a New AMD Bull in Town • Is AMD Stock a Buy with New Product Launches? Morgan Stanley Says ‘Not Yet’ • AMD Stock: Another Bear Bites the Dust • Is Now the Time to Pull the Trigger on AMD? Rosenblatt Says Yes • Is 33% Upside Good Enough to Risk Buying Fitbit (FIT) Stock? Deutsche Bank Doesn't Think So • Deutsche Bank Remains Sidelined on AMD Stock; Here's Why • Antitrust Investigation Is Not a Major Threat to Alphabet (GOOGL) Stock, Says Top Analyst • Tesla's (TSLA) Gigafactory Is Impressive, But Its Stock Isn't, Says RBC Capital
Olivia Munn Criticizes Quentin Tarantino for ‘Pushing Past Abusive Behavior’ Without ‘Earning’ It Click here to read the full article. Olivia Munn ’s recent appearance on BuzzFeed News’ “AM2DM” morning show to promote her new Starz series “The Rook” turned noteworthy when she took a moment to call out Quentin Tarantino and the Affleck brothers. The actress was talking about redemption in the #MeToo era and how it’s possible as long as an abuser earns it. In the case of Tarantino and both Casey and Ben Affleck, Munn says they haven’t and have simply pushed their way past their problematic behavior. “When most people mess up, we have to go to the back of the line and earn our way back up,” Munn said. “But then, there are these certain men who, when they mess up they kind of go, ‘Oops, sorry, my bad,’ and then just resume their place in line.” Related stories Quentin Tarantino Is Extremely Serious About Retiring: 'I've Come to the End of the Road' The 7 Best Movies New to Netflix in July 2019, from 'Taxi Driver' to 'Inglourious Basterds' Munn continued, “There are going to be people that are hoping they can just push past it and people can just forget. We have stuff with the Afflecks, both of them. They just keep going and hoping that no one is going to find out. We have Tarantino who admitted to abusive behavior on set and also knowing what Harvey Weinstein was doing.” During the initial wave of sexual abuse accusations made against Harvey Weinstein in fall 2017, Tarantino told The New York Times that he was aware in some capacity of the behavior that was going on behind closed doors. “I knew enough to do more than I did,” the director said. “There was more to it than just the normal rumors, the normal gossip. It wasn’t secondhand. I knew he did a couple of these things. I wish I had taken responsibility for what I heard.” Weinstein is credited with jump-starting Tarantino’s career after distributing his feature debut “Reservoir Dogs.” Tarantino would go on to work with Weinstein at Miramax and The Weinstein Company on every film through “Once Upon a Time in Hollywood,” which he brought to Sony after Weinstein was exiled from Hollywood because of his abusive behavior. Story continues “If I had done the work I should have done then, I would have had to not work with him,” Tarantino told The Times. Several months later, Uma Thurman came forward to reveal that Tarantino had contributed to a car accident on the set of “Kill Bill” that left her with serious injuries. Thurman said Tarantino pressured her to perform a car stunt and misinformed her about some of the logistics of the scene. The car ended up veering off the road and crashing. Tarantino later apologized and called the accident the biggest regret of his career. The director has also admitted to choking Thurman and his “Inglourious Basterds” star Diane Kruger during scenes, albeit with their permission. Munn has often spoken out about issues revolving sexual harassment and abuse. The actress was one of several women who accused Brett Ratner of sexual misconduct in a November 2017 report from the Los Angeles Times, and in September 2018 she revealed she got a scene removed from “The Predator” after she discovered one of her co-stars was a registered sex offender. The actor, Steven Wilder Striegel, was a friend of “Predator” director Shane Black. Munn would later explain that she was chastised by her “Predator” co-stars for speaking out about the sex offender and derailing the film’s release. Tarantino is returning to theaters later this month with “Once Upon a Time in Hollywood.” Sony is going nationwide with the film on July 26. Munn’s “The Rook” started its first season run June 30 on Starz and airs Sundays at 8pm ET. Sign up for Indiewire's Newsletter . For the latest news, follow us on Facebook , Twitter , and Instagram .
Investors Who Bought Marine Products (NYSE:MPX) Shares Three Years Ago Are Now Up 82% 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 pick the right individual stocks, you could make more than that. For example,Marine Products Corporation(NYSE:MPX) shareholders have seen the share price rise 82% over three years, well in excess of the market return (40%, not including dividends). See our latest analysis for Marine Products 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. Marine Products was able to grow its EPS at 26% per year over three years, sending the share price higher. We note that the 22% yearly (average) share price gain isn't too far from the EPS growth rate. Coincidence? Probably not. This observation indicates that the market's attitude to the business hasn't changed all that much.Au contraire, the share price change has arguably mimicked the EPS growth. You can see below how EPS has changed over time (discover the exact values by clicking on the image). We know that Marine Products has improved its bottom line lately, but is it going to grow revenue? Check if analysts think Marine Products willgrow revenue in the future. 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. We note that for Marine Products the TSR over the last 3 years was 97%, which is better than the share price return mentioned above. The dividends paid by the company have thusly boosted thetotalshareholder return. Investors in Marine Products had a tough year, with a total loss of 14% (including dividends), against a market gain of about 8.4%. However, keep in mind that even the best stocks will sometimes underperform the market over a twelve month period. Longer term investors wouldn't be so upset, since they would have made 15%, each year, over five years. It could be that the recent sell-off is an opportunity, so it may be worth checking the fundamental data for signs of a long term growth trend. Keeping this in mind, a solid next step might be to take a look at Marine Products's dividend track record. Thisfreeinteractive graphis a great place to start. Of course,you might find a fantastic investment by looking elsewhere.So take a peek at thisfreelist of companies we expect will grow earnings. Please note, the market returns quoted in this article reflect the market weighted average returns of stocks that currently trade on US exchanges. We aim to bring you long-term focused research analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material.If you spot an error that warrants correction, please contact the editor ateditorial-team@simplywallst.com. This article by Simply Wall St is general in nature. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Simply Wall St has no position in the stocks mentioned. Thank you for reading.
Lump Sum vs. Annuity: Which Should You Take? If you’re lucky enough to win the lottery or havea pension plan, you may need to decide whether you want to take your earnings in a lump sum or an annuity. And if your goal is to maximize your earnings, you may want to take into consideration your projected lifespan,inflation rates, and your own spending and investing habits. We break down the difference between a lump sum and an annuity, plus offer examples to help you decide which one you should take. Lump Sum vs. Annuity A lump sum is often a payment that is paid out at once rather than through multiple payments paid out over time. A lump sum allows you to collect all of your money at one time. An annuityis often a steady payment that is made at equal intervals, such as monthly or annually. An annuity allows you to collect part of your money every month or year over a longer period of time. The Pros and Cons if You Have a Pension If your employer offers atraditional defined-benefit pension plan, you may have to make a tough choice when you hit retirement. Should you take a lump sum or choose monthly annuity payments for the rest of your life, and maybe for the life of your spouse and/or beneficiaries’ lives? Before deciding, let’s look at the pros and cons of both instances. Pros of taking the annuity: • You will have an income for the rest of your life • You may be able to pass this lifetime income on toyour spouse or a different beneficiary Cons of taking the annuity: • Annuities might give you less financial flexibility in life • You may die before ultimately collecting all of the retirement money you’re owed • Some annuities may not pay benefits to your family or beneficiaries in death • The annuity might be too small to cover your medical bills if you are very sick Pros of taking the lump sum: • If you have large debts, you can pay them off quickly • You can pass on whatever is left of the lump sum as an inheritance • You can invest large amounts of the money sooner Cons of taking the lump sum: • Your retirement money could run out before you die if not managed properly Analyzing Your Options After weighing the pros and cons, it’s still smart to analyze your own situation. A simple analysis compares the monthly payment amount offered with what you believe you could generate by investing this lump sum at about the same risk level. There are three factors to consider with this analysis. 1. Life Expectancy Life expectancyis the most important factor of the three. If you’re healthy, or have a good reason to believe that you or your spouse will live beyond the average life expectancy, monthly payments might be more attractive to you. If your spouse is significantly younger than you, that also might play a role in your decision. However, unless you choose a survivor benefit or term certain option, your annuity payments will stop when you die. The survivor benefit allows your heir to receive the annuity payments for their life span after you die. The term certain option offers you payments that decrease a little every month, but that will continue to your heirs in the case that you die. However, if you’re in poor health and don’t expect to live beyond the average life expectancy, or you retired later in life, you may get more out of the lump-sum option. A lump sum can be passed on to your heirs. And while managing that lump sum, it may be smart to overestimate how long you will live. Running out of money at age 95 because you thought you would only live to 80 is not a fun prospect. 2. Return on Investments If you already have a sufficient retirement income – whether throughSocial Security benefits, other existing annuities or other forms of lifetime income – you could take either the annuity payments or a lump sum and invest the money for yourself or your heirs. Some companies offer a partial annuity, which would allow you to take part of your pension as a lump sum and part as an annuity. If your company doesn’t offer that, you could take the lump sum and purchase your own fixed annuity through a private company. You might be able to find an annuity plan that will guarantee you more money than your pension program. Another option is putting part of the lump sum towards an annuity, and investing or spending the rest of the lump sum however you choose. It might also be a good idea to take the lump sum and roll it over to anindividual retirement account (IRA). A direct rollover to your IRA from your employee’s plan is not subject to immediate taxation and can preserve the tax-deferred status of this money, while allowing it to be invested. 3. Risk of Return If you are concerned about the reliability of your retirement income, you might want to take the annuity for the security. If a lot of your retirement income is dependent upon the market rather than guaranteed, the security might be a better bet for retaining a certain minimum lifestyle. However, if you’re choosing the annuity payout for the security, you should check the credit rating of the pension fund or annuity provider. ThePension Benefit Guaranty Corporation (PBGC)is a federal government agency that provides limited protection for some private sector pension participants. If you’re really concerned about losing your pension because of the pension provider’s financial situation or inability to pay out, taking the lump sum may end up being the more secure option. If your annuity does not have a cost-of-living adjustment, it’s purchasing power will decrease over time due to inflation. You can invest a lump sum in low-risk stocks, bonds or securities to help your assets keep up with inflation. However, doing so does involve taking on some market risk and doesn’t mean that income will last for the rest of your life. The Pros and Cons if You Win the Lottery While those with a pension plan may have until retirement to decide, lottery winners have to choose quickly if they are taking a lump sum cash option or yearly annuity payments. Let’s look at the pros and cons of both options. Pros of taking the annuity: • Annuity payments typically end up being a larger amount than the lump sum • Some annuity payments may be taxed at a lower rate Cons of taking the annuity: • Annuities might give you less financial flexibility in life • You may die before ultimately collecting all of the money you won Pros of taking the lump sum: • You can use the money right away and however you choose, such as investing it Cons of taking the lump sum: • The lump sum payment will be less money than the reported jackpot because the total amount is subject to income tax for that year and there’s a deduction for taking the lump sum payment • Your money could run out if not managed properly Analyzing Both Options As with a pension, it’s important to analyze both options according to a few different factors. 1. Life Expectancy If you choose the annuity option, you will either get equal payments for a period of time, or inflation-adjusted payments for a period of time. This could offer you more financial security for years to come. For example, if you take the annuity and end up spending a year’s worth of money in six months, you get a chance to start over the next year with your next annuity payment and learn from your mistakes. Or if you’re young, you might prefer the extended payouts, since you’re going to live a lot longer and may want to guarantee a comfortable standard of living. If you’re older, you might want the lump sum of money now and enjoy it in your sunset years. Additionally, if you have kids, keep in mind that if can choose the extended payout, which means your heirs receive the remaining installments when you die. 2. Return on Investments On the other hand, if you’re a good investor, or work with a good brokerage orfinancial advisorthat you trust, you can potentially turn that lump sum of money into much more through investments. The amount could end up growing to be more than the initial jackpot winnings and what you would have taken home through had you chosen the annuity. As with the pension money, you could also take the lump sum and purchase your own fixed annuity through a private company. There is the possibility of a higher return when you purchase your own annuity than when taking the lottery annuity. You could also try investing in low volatility,dividend-paying stocks, and effectively create your own annuity. Even if taking the lump sum is theoretically a good investment decision, it might not be a better decision for you. Many lottery winners end up taking the lump sum and spending all their money in a few years. Taking the annuity option gives yourself time to figure out how you want to manage your money, and protects you against yourself as well as anyone who might take advantage of you. The trade-off ends up being between security and maximizing your winnings. The Bottom Line Whether you’re receiving a large sum of money from your pension plan or lottery winnings, it’s important to analyze both payout options before choosing the lump sum or annuity. While an annuity may offer more financial security over a longer period of time, a lump sum could be invested, which could offer you more money down the road. If you take the time to weigh your options, you’ll be sure to choose the one that’s best for your financial situation. Tips for Maximizing Your Money • Whether it’s your pension or lottery winnings, it may be smart to consult a financial advisor to help you make the best decisions for your future. Finding the right one thatfits your needsdoesn’t have to be hard.SmartAsset’s free toolmatches you with financial advisors in your area in five minutes. If you’re ready to be matched with local advisors that will help you achieve your financial goals,get started now. • If you receive a large sum of money, be sure to budget accordingly. Considercreating a completely new budgetand adjusting your financial goals. The extra money may help you pay down debt faster and build an even larger emergency fund, which will help you save even more in the long run. • While it may be intimidating,investing your moneyis one of the best ways to potentially grow it over time. From stocks and bonds to ETFs and mutual funds, there are several places to invest your money. You can start today with anonline brokerage accountorrobo-advisorand invest your money from the comfort of your own home. Photo credit: ©iStock.com/FabrikaCr, ©iStock.com/Geber86, ©iStock.com/PeopleImages The postLump Sum vs. Annuity: Which Should You Take?appeared first onSmartAsset Blog. • How to Make Penalty-Free IRA Withdrawals • What Are 414(h) Plans and How Do They Work? • What Is a Self-Directed Roth IRA?
Is Tourism Holdings Limited's (NZSE:THL) P/E Ratio Really That Good? Want to participate in ashort research study? Help shape the future of investing tools and you could win a $250 gift card! This article is for investors who would like to improve their understanding of price to earnings ratios (P/E ratios). To keep it practical, we'll show how Tourism Holdings Limited's (NZSE:THL) P/E ratio could help you assess the value on offer. Looking at earnings over the last twelve months,Tourism Holdings has a P/E ratio of 8.19. That is equivalent to an earnings yield of about 12%. See our latest analysis for Tourism Holdings Theformula for price to earningsis: Price to Earnings Ratio = Share Price ÷ Earnings per Share (EPS) Or for Tourism Holdings: P/E of 8.19 = NZ$3.81 ÷ NZ$0.47 (Based on the trailing twelve months to December 2018.) A higher P/E ratio means that buyers have to paya higher pricefor each NZ$1 the company has earned over the last year. That is not a good or a bad thingper se, but a high P/E does imply buyers are optimistic about the future. Probably the most important factor in determining what P/E a company trades on is the earnings growth. That's because companies that grow earnings per share quickly will rapidly increase the 'E' in the equation. That means even if the current P/E is high, it will reduce over time if the share price stays flat. And as that P/E ratio drops, the company will look cheap, unless its share price increases. Tourism Holdings increased earnings per share by a whopping 34% last year. And its annual EPS growth rate over 5 years is 51%. So we'd generally expect it to have a relatively high P/E ratio. The P/E ratio essentially measures market expectations of a company. The image below shows that Tourism Holdings has a lower P/E than the average (13.9) P/E for companies in the transportation industry. Tourism Holdings's P/E tells us that market participants think it will not fare as well as its peers in the same 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. In theory, a company can lower its future P/E ratio by using cash or debt to invest in growth. 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. Tourism Holdings's net debt equates to 45% of its market capitalization. You'd want to be aware of this fact, but it doesn't bother us. Tourism Holdings's P/E is 8.2 which is below average (17.4) in the NZ market. The company hasn't stretched its balance sheet, and earnings 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. As value investor Benjamin Graham famously said, 'In the short run, the market is a voting machine but in the long run, it is a weighing machine.' So thisfreereport on the analyst consensus forecastscould help you make amaster moveon this stock. Of courseyou might be able to find a better stock than Tourism Holdings. So you may wish to see thisfreecollection of other companies that have grown earnings strongly. We aim to bring you long-term focused research analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material.If you spot an error that warrants correction, please contact the editor ateditorial-team@simplywallst.com. This article by Simply Wall St is general in nature. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Simply Wall St has no position in the stocks mentioned. Thank you for reading.
Exclusive: Migrant children report verbal abuse, threats while in Border Patrol custody Migrant children kept in the custody of U.S. Customs and Border Protection (CBP) have faced unsanitary conditions, verbal abuse and threats since arriving in the country, reports submitted to the Office of Refugee Resettlement (ORR) by clinicians and case managers show. The Significant Incident Reports (SIR), five of which were obtained exclusively by Yahoo News, include descriptions provided by detained unaccompanied minors about the kinds of conditions and treatment they experienced while in CBP custody between June 12 and July 1 of this year. The reports relay accounts provided by children about the treatment they encountered while detained at various CBP facilities along the southwest border. In almost all cases described in the reports obtained by Yahoo News, the minors had been held in CBP custody for longer than the legally mandated 72-hour limit before they were transferred to ORR care. Protesters in front of the Border Patrol facility in Clint, Texas, where lawyers reported that migrant children were held unbathed and hungry. (Photo: Mario Tama/Getty Images) According to one report, submitted to ORR on June 13, an unaccompanied immigrant boy described being verbally and emotionally abused, threatened and neglected by CBP officials during the 11 days he was in custody in McAllen, Texas. During his time in detention in McAllen, the boy reported, he became sick and developed a fever while held in a crowded and cold cell with other young males. After fainting, the boy said, he was taken by a friend to the CBP clinic, where medical staff spoke only English and did not explain to him his diagnosis nor what kind of medication they’d administered to him. According to the report, the boy said he spent three days in the sick bay at the McAllen facility, where he slept on the floor without a mattress or blanket of any kind. The report notes that the boy’s Medical Screening Confirmation from CBP states, “No medical issues identified and treated,” despite the fact that, according to the boy’s account, he was diagnosed with a fever and treated with medicine. While in the sick bay, he also reported being verbally abused by an official in a black uniform who spoke some Spanish and told him and others in the sick bay, “Your lives don’t matter to me” and “Don’t act like little aholes with me because, if I feel like it, I can hit you all with this stick.” The minor reported that the same official also told him, in Spanish, “If you act like a little ahole, I will send you back to your country or I will send you to a different country so you will be alone.” Story continues People who have been taken into custody related to cases of illegal entry into the U.S. sit in a cage at a facility in McAllen, Texas. (Photo: U.S. Customs and Border Protection's Rio Grande Valley Sector via AP, file) In another SIR submitted to ORR on June 12, a boy who had been held in CBP custody in San Diego described being separated from relatives, including his two sisters, one of whom is also a minor. This boy reported that during his initial interview with a CBP official, he repeatedly explained that he had traveled to the U.S. with family and said that the official spoke Spanish. Yet the CBP official continued to insist that the boy had traveled to the U.S. alone, the boy said, recording that version on his official paperwork despite the boy’s repeated explanations that this was not true. This boy also reported that he’d disclosed the trauma he had experienced in his home country to the CBP official, who, he said, told the minor that if he was lying he would be imprisoned, making him “feel intimidated and nervous, although he was telling the truth.” Two separate reports submitted July 1 offer similar descriptions provided by a 12-year-old girl and her 7-year-old sister of unsanitary conditions at the Border Patrol facility in Clint, Texas. The sisters both reported that they had been held for seven days at the facility in a small room with 35 other minors that was kept at an extremely cold temperature, and they were permitted to bathe and brush their teeth only once every three days. The treatment of migrants, and children in particular, in CBP custody has come under intense scrutiny recently, in part following a report of prolonged detention and neglect of children at the Clint facility, near El Paso. On Monday, members of Congress described conditions as “horrifying” during a visit to border processing facilities, including Clint. “Now I’ve seen the inside of these facilities,” Rep. Alexandria Ocasio-Cortez , D-N.Y., tweeted. “It’s not just the kids. It’s everyone. People drinking out of toilets, officers laughing in front of members of Congress. I brought it up to their superiors. They said ‘officers are under stress & act out sometimes.’ No accountability.” The Customs and Border Protection's Border Patrol station in Clint, Texas. (Photo: Julio-Cesar Chavez/Reuters) The reports obtained by Yahoo News were all generated by caseworkers and clinicians at one of approximately 120 ORR-funded shelters for unaccompanied immigrant children across the country. In response to a request for comment on the reports, a CBP official provided a link to the agency’s Transport, Escort, Detention and Search policy along with the following statement: “U.S. Customs and Border Protection leverages our limited resources to provide the best care possible to those in our custody, especially children. As DHS and CBP leadership have noted numerous times, our short-term holding facilities were not designed to hold vulnerable populations and we urgently need additional humanitarian funding to manage this crisis. CBP works closely with our partners at the Department of Health and Human Services to transfer unaccompanied children to their custody as soon as placement is identified, and as quickly and expeditiously as possible to ensure proper care.” A spokesperson from the Department of Health and Human Services had indicated receipt of Yahoo News’ request for comment but was unable to provide a response before publication of this article. Jennifer Podkul, policy director at Kids in Need of Defense, which provides pro bono legal services to immigrant children, said the kind of treatment described in these reports is hardly new, although the likelihood of such incidents increases as kids spend more time in CBP custody. “For years we’ve been pushing CBP to hire child-welfare professionals; it’s been evident for a long time that these agents and officers are not equipped to care for these kids,” she said. “I’m glad to see case managers are reporting to ORR when they hear these kinds of stories,” she said, adding, “There’s been no accountability for this kind of behavior towards children.” Ursela Ojeda, a policy adviser at the nonprofit Women’s Refugee Commission, stressed that the treatment described in these recent reports, along with the private Facebook group revealed by ProPublica this week, are indicative of “a culture of cruelty, of callously disregarding the rights of individuals in custody” within CBP. “Not every single CBP officer is a bad person,” Ojeda said. “That would be impossible. There are a lot of people trying to do their jobs and care for people. But there is also just a culture up through leadership of disregarding the rights and stories of these people that are suffering.” Read more from Yahoo News: GOP whip Scalise cites Trump accuser’s ‘bizarre’ CNN interview in doubting her account Pentagon secretly struck back against Iranian cyberspies targeting U.S. ships Trump admits his Cabinet had 'some clinkers' 'Great Replacement' ideology is spreading hate in U.S. and across the globe How Europe's smallest nations are battling Russia's cyberattacks PHOTOS: Hong Kong protesters take over legislative chambers
NBA star Kevin Durant sells Malibu home for $12.15M: report NBA star Kevin Durantreportedly sold his oceanfront Malibu pad for $12.15 million, according to a report. Durant, 30, announced Sunday he was planning on signing with the Brooklyn Nets after becoming a free agent. He was previously on the Golden State Warriors, with whom he won two NBA championships. Before he was a Warrior, Durant played for the Oklahoma City Thunder. The NBA star purchased the home on Broad Beach for $12.05 million last year, according to theLos Angeles Times. The newspaper reported he listed the home for $13.5 million in April. The property, which is on a private street, was recently remodeled and features sliding glass walls, high ceilings, a fireplace, four bedrooms and six bathrooms. The house is three levels and 3,423 square feet. “Million Dollar Listing of Los Angeles” star James Harris announced on his Instagram that the home was sold,CNBCreported. “#JustSold Victoria Point Rd in beautiful Malibu. Not a bad gig driving up the coast to these spectacular views. Sold twice in 14 months,” he wrote. Durant will miss much, if not all, of next season due to a ruptured Achilles tendon. His former U.S. Olympic teammates Kyrie Irving and DeAndre Jordan will also join Durant as new additions to the Brooklyn Nets. CLICK HERE TO GET THE FOX BUSINESS APP ESPN first reported Durant's decision to move to the Nets, saying he had agreed to a four-year deal worth $164 million. Durant could have gotten a five-year deal worth about $221 million if he had chosen to remain with the Warriors. Related Articles • How Much is Michael Phelps Worth? • Ryan Lochte's Brand Value Sinks Amid Rio Scandal • Here's How You Get a Body Like An Olympian
New Mexico driver charged in Uber passenger's shooting death ALBUQUERQUE, N.M. (AP) — Prosecutors have charged a driver in the shooting death of an Uber passenger who authorities say was killed along the side of an Albuquerque highway after a dispute over vomit in the vehicle. A Bernalillo County prosecutor charged Clayton Benedict, 32, with second-degree murder on Monday — more than three months after the shooting death of 27-year-old James Porter. A spokesman said prosecutors had reviewed "a volume of videos and documents" before filing charges. Benedict would face up to 15 years in prison if convicted of second-degree murder. If convicted on a lesser, alternative count of manslaughter involving a firearm, he could face up to seven years in prison. A voicemail left at the public defenders' office seeking comment on Benedict's behalf was not immediately returned Tuesday. Benedict had just picked up Porter and another man at a bar in the early evening of March 17 and was driving on Interstate 25 when he pulled over because Porter's friend had thrown up in the backseat, according to authorities. An argument over a cleanup fee escalated on the shoulder of the highway, with Benedict telling police earlier this year that he pulled out a handgun after Porter had slammed his car door, yelled at him, took his shoes off and threw his sunglasses at him. Benedict said he opened fire when Porter walked toward the driver's side of his car and heard him threaten to run him over. A toxicology report last month showed Porter had traces of the drug ecstasy and high levels of alcohol in his system when he was killed, which occurred on St. Patrick's Day when many revelers crowd into bars to celebrate. His family has sued Uber saying the company was negligent in its supervision of Benedict. The ride-sharing giant's policies prohibit the presence of weapons inside vehicles when they are used for transporting clients. A preliminary hearing for Benedict has not been scheduled. Last year, an Uber driver in Denver was charged with murder in the fatal shooting of a passenger on a Colorado highway..
Mike Pence abruptly returns to White House as reports of ‘emergency’ situation spark online misinformation Vice President Mike Pence was sent back to the White House on Tuesday after originally being scheduled to attend an event on the nationwide opioid crisis in New Hampshire . The development of Mr Pence’s abrupt change in plans was initially reported by Fox News, which stated the vice president was returning to Washington due to an “emergency”. However, officials declined to publicly cite the reason for the change throughout the day, sparking confusion and apparent online misinformation. Marc Short, chief of staff to the vice president, later told reporters there was no emergency and that Mr Pence’s trip to New Hampshire would be rescheduled for a later date. “The vice president was called back to the White House but there’s no cause for alarm,” Mr Short said, adding that Mr Pence’s plane never departed from Washington. Several initial reports had suggested Air Force Two was rerouted back to Washington after having already left the capitol for the opioid event. A reporter on Fox News said the vice president was “about to land in New Hampshire” but “turned around” due to the last-minute change, while another guest on the MSNBC network echoed those claims, saying the plane had been turned around. Still, a senior official reportedly told the White House press pool — a rotating group of reporters covering the president — that “the VP had not left DC and he’s currently at the White House.” Officials also said the change had nothing to do with either Mr Pence or Donald Trump 's health. Alyssa Farah, the vice president’s spokesperson, also said there was “no cause for alarm” in a tweet confirming the itinerary change. “Something came up that required the @VP to remain in Washington, DC,” she wrote. “He looks forward to rescheduling the trip to New Hampshire very soon.” The roundtable discussion Mr Pence was scheduled to participate in Manchester, New Hampshire involved patients from the Granite Recovery Centre headquarters. Mr Pence was also reportedly expected to discuss illegal drug trafficking across the state. The White House did not return requests for comment. View comments
Does ABM Industries Incorporated's (NYSE:ABM) CEO Pay Reflect Performance? Want to participate in ashort research study? Help shape the future of investing tools and you could win a $250 gift card! In 2015 Scott Salmirs was appointed CEO of ABM Industries Incorporated (NYSE:ABM). This analysis aims first to contrast CEO compensation with other companies that have similar market capitalization. Then we'll look at a snap shot of the business growth. And finally - as a second measure of performance - we will look at the returns shareholders have received over the last few years. This method should give us information to assess how appropriately the company pays the CEO. View our latest analysis for ABM Industries According to our data, ABM Industries Incorporated has a market capitalization of US$2.7b, and pays its CEO total annual compensation worth US$6.0m. (This is based on the year to October 2018). We think total compensation is more important but we note that the CEO salary is lower, at US$975k. As part of our analysis we looked at companies in the same jurisdiction, with market capitalizations of US$2.0b to US$6.4b. The median total CEO compensation was US$5.2m. So Scott Salmirs receives a similar amount to the median CEO pay, amongst the companies we looked at. This doesn't tell us a whole lot on its own, but looking at the performance of the actual business will give us useful context. You can see a visual representation of the CEO compensation at ABM Industries, below. On average over the last three years, ABM Industries Incorporated has grown earnings per share (EPS) by 6.1% each year (using a line of best fit). In the last year, its revenue is up 8.2%. I would argue that the improvement in revenue isn't particularly impressive, but the modest improvement in EPS is good. Considering these factors I'd say performance has been pretty decent, though not amazing. You might want to checkthis free visual report onanalyst forecastsfor future earnings. ABM Industries Incorporated has served shareholders reasonably well, with a total return of 17% over three years. But they probably don't want to see the CEO paid more than is normal for companies around the same size. Scott Salmirs is paid around what is normal the leaders of comparable size companies. We think many would like to see better growth. But we don't think the CEO compensation is a problem. Whatever your view on compensation, you might want tocheck if insiders are buying or selling ABM Industries shares (free trial). If you want to buy a stock that is better than ABM Industries, 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.
Prince William Surprises Fans Who Were Holding a Vigil for Princess Diana Prince William is honoring his late mom. On what would have been Princess Diana 's 58th birthday, her eldest son surprised well-wishers outside of Kensington Palace, where they were holding a vigil for Diana, who died in 1997. According to The Daily Mail , royal fans had been stationed outside the palace gates since 5:30 a.m. on Monday, when William shocked them by unceremoniously walking through the gates with a small security detail at 6:45 p.m. Wearing a button-up shirt sans a tie and a jacket, William was casually dressed as he chatted with the six-person group for about seven minutes until a crowd started to form, the outlet reports. "William told me he knew we'd been coming here for years and thanked us for what we were doing for his mother," John Loughrey, who chatted with the Duke of Cambridge, said. "... He shook my hand three times, he has a really firm shake, and I felt a beautiful feeling go through my body. I think I'm still shaking now. I feel very emotional." "He said, 'I'm touched by what you do, you've got quite the collection,'" John recalled of William's reaction to his Diana-themed accessories. "I told him that I pray for his mother every Sunday at Westminster Abbey and he seemed really touched." "She was born with two hearts, one for her and one for us. People must never forget that," John added of Diana. "I have never spoken to William before, only seen him, but he made a beeline for me and he knew who I was. I am so touched. He seemed really moved that we were here." John, he told the outlet, asked William about the progress with statue of Diana that's set to be placed outside the palace. "Soon, very soon," William said of when the statue would be unveiled, according to John. "We just want to make sure it is right. It's important to get it right." Another attendee, Maria Scott, told the Daily Mail that she was there "to honor Diana's legacy." Story continues "We are two generations down now and there are children growing up who don't even know who she is. It's important that we remind them and remember," she said. "None of us could believe it when William suddenly walked down the drive to come and thank us. He really is his mother's son." Jayne Fincher/Princess Diana Archive/Getty Images William's surprise appearance came just one day before his brother, Prince Harry , paid tribute to his mom in a speech at the Diana Award National Youth Mentoring Summit, an event honoring Diana. "My mother, Princess Diana, was a role model to so many, without realizing the impact she would have on so many lives," Harry said during his speech. "You don't have to be a princess or a public figure to be a role model. In fact, it's equally valuable if you're not because it's more relatable." "Being a role model and mentor can help heal the wounds of your own past and create a better future for someone else," he added. "As proven by today's inspirational youth, and many of the stories we've heard this afternoon, the impact of a mentor has the power to make society richer, happier, kinder and more aligned." Watch the video below for more on how the royal family remembers Diana. RELATED CONTENT: Prince Harry Opens Up About Fatherhood at Event Honoring Princess Diana Kate Middleton's Latest Ensemble Takes a Page From Princess Diana's Book -- See the Pics! Prince Harry Channels Mom Princess Diana in Speech Against Landmines Related Articles: Hollywood Bikini Bods Over 40 Biggest Celebrity Breakups of 2019 -- So Far! Celebrities in Their Underwear
Myriad Genetics' Elevate 2020 Plan Holds Promise Amid Issues On Jul 1, we issued an updated research report onMyriad Genetics, Inc. MYGN. The stock carries a Zacks Rank #4 (Sell). Lately, Myriad Genetics is observing growth in EndoPredict, Vectra, Hereditary Cancer and Prolaris testing revenues. The FDA approvals and encouraging test results buoy optimism on the stock. We are upbeat about the company's expectation to witness stable pricing in Hereditary Cancer testing through fiscal 2020. Moreover, the company seems well-positioned to deliver strong fiscal 2019 results on the back of solid Counsyl buyout synergies.. Fortifying its foothold internationally, the company has been receiving a satisfactory response to its BRACAnalysis CDx in Japan for addressing metastatic breast cancer. In this regard, it has secured a Japanese approval for BRACAnalysis CDx as the companion diagnostic in first line ovarian cancer with olaparib. The company is optimistic about the scope of this test in Japan considering that every year, roughly 22,000 cancer patients across the Land of the Rising Sun are eligible for companion diagnostic testing. Myriad Genetics, Inc. Price Myriad Genetics, Inc. price \| Myriad Genetics, Inc. Quote Myriad Genetics has so far made a significant progress with its five strategic imperatives that include transition and expansion of the hereditary cancer market, diversifying revenues by commercializing its new products, ramping up the company’s international contribution by investing in large countries, gaining reimbursement for the launched products, increasing international RNA kit revenues and enhancing profitability with Elevate 2020. It is important to note here that this ‘Elevate 2020’ program — introduced by Myriad Genetics — targets $50 million in incremental operating income by fiscal 2020. However, in the last reported quarter, the company suffered a decline in GeneSight and Vectra testing revenues, which were affected by an adverse third-quarter seasonality. This apart, escalating Research and development (R&D) expenses and selling, general and administrative (SG&A) expenses are inducing a massive operating margin contraction. Shares of this Salt Lake City, UT-based molecular diagnostics provider have underperformed the broader industry over the past three months. The stock has declined 15.3% compared with the industry’s 3.1% dip. Meanwhile, Myriad Genetics faces acute competition in the key BRACAnalysis market. The company expects the same to intensify due to the advancement of this technology. We believe, tough headwinds might reduce the prices of expensive tests provided by the company. This might in turn, impede the stock’s margin improvement. Moreover, as the company receives a considerable portion of its revenues as well as pays part of its expenses in foreign currencies, it is exposed to unfavorable exchange rate fluctuations between foreign notes and the U.S. dollar. Key Picks A few better-ranked stocks in the broader medical space are DENTSPLY SIRONA XRAY, Penumbra PEN and CONMED Corp. CNMD, each carrying a Zacks Rank #2 (Buy). You can seethe complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. DENTSPLY’s long-term earnings growth rate is expected to be 11.5%. Penumbra’s long-term earnings growth rate is projected at 21.5%. CONMED’s long-term earnings growth rate is estimated at 13.3%. This Could Be the Fastest Way to Grow Wealth in 2019Research indicates one sector is poised to deliver a crop of the best-performing stocks you'll find anywhere in the market. Breaking news in this space frequently creates quick double- and triple-digit profit opportunities.These companies are changing the world – and owning their stocks could transform your portfolio in 2019 and beyond. Recent trades from this sector have generated+98%,+119%and+164%gains in as little as 1 month.Click here to see these breakthrough stocks now >> 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 reportPenumbra, Inc. (PEN) : Free Stock Analysis ReportMyriad Genetics, Inc. (MYGN) : Free Stock Analysis ReportDENTSPLY SIRONA Inc. (XRAY) : Free Stock Analysis ReportCONMED Corporation (CNMD) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research
Does Tilly's, Inc. (NYSE:TLYS) Create Value For Shareholders? Want to participate in ashort research study? Help shape the future of investing tools and you could win a $250 gift card! Many investors are still learning about the various metrics that can be useful when analysing a stock. This article is for those who would like to learn about Return On Equity (ROE). We'll use ROE to examine Tilly's, Inc. (NYSE:TLYS), by way of a worked example. Tilly's has a ROE of 15%, based on the last twelve months. One way to conceptualize this, is that for each $1 of shareholders' equity it has, the company made $0.15 in profit. View our latest analysis for Tilly's Theformula for ROEis: Return on Equity = Net Profit ÷ Shareholders' Equity Or for Tilly's: 15% = US$24m ÷ US$165m (Based on the trailing twelve months to May 2019.) It's easy to understand the 'net profit' part of that equation, but 'shareholders' equity' requires further explanation. It is all the money paid into the company from shareholders, plus any earnings retained. Shareholders' equity can be calculated by subtracting the total liabilities of the company from the total assets of the company. ROE looks at the amount a company earns relative to the money it has kept within the business. The 'return' is the amount earned after tax over the last twelve months. A higher profit will lead to a higher ROE. So, all else equal,investors should like a high ROE. That means ROE can be used to compare two businesses. Arguably the easiest way to assess company's ROE is to compare it with the average in its industry. Importantly, this is far from a perfect measure, because companies differ significantly within the same industry classification. You can see in the graphic below that Tilly's has an ROE that is fairly close to the average for the Specialty Retail industry (13%). That's neither particularly good, nor bad. ROE tells us about the quality of the business, but it does not give us much of an idea if the share price is cheap. If you like to buy stocks alongside management, then you might just love thisfreelist of companies. (Hint: insiders have been buying them). Companies usually need to invest money to grow their profits. That cash can come from retained earnings, issuing new shares (equity), or debt. In the first and second cases, the ROE will reflect this use of cash for investment in the business. In the latter case, the debt used for growth will improve returns, but won't affect the total equity. That will make the ROE look better than if no debt was used. Tilly's is free of net debt, which is a positive for shareholders. Its ROE already suggests it is a good business, but the fact it has achieved this -- and doesn't borrowings -- makes it worthy of further consideration, in my view. After all, when a company has a strong balance sheet, it can often find ways to invest in growth, even if it takes some time. 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 you might want to check this FREEvisualization of analyst forecasts for the company. Of courseTilly's 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.
Alnylam Submits MAA in Europe for RNAi Therapeutic Givosiran Alnylam Pharmaceuticals, Inc.ALNY announced that it has submitted a Marketing Authorization Application (MAA) to the European Medicines Agency (EMA) for givosiran, an investigational RNAi therapeutic targeting aminolevulinic acid synthase 1 (ALAS1), in development for the treatment of acute hepatic porphyria (AHP). The MAA was supported by data from the pivotal ENVISION phase III study. In the study, givosiran met the primary efficacy endpoint, with a 74% mean reduction relative to placebo in the annualized rate of composite porphyria attacks. There was a corresponding 90% median reduction in composite annualized attack rate (AAR), with a median AAR of 1.0 in givosiran patients compared with that of 10.7 in placebo patients. In the trial, 50% of givosiran-treated patients were attack free during the six-month treatment period compared to 16.3% of placebo-treated patients. Givosiran previously received Breakthrough Therapy designation and Orphan Drug status from the FDA for AHP. The drug has also been granted Priority Medicines (PRIME) designation and Orphan Drug status by the EMA for the same. In June 2019, the company also completed the rolling submission of a new drug application (NDA) to the FDA for givosiran in AHP. Shares of Alnylam have declined 1.3% year to date against the industry’s growth of 7.4%. We remind investors that Onpattro, a first-of-its-kind RNAi therapeutic, is the company’s only approved drug. It is also the only FDA-approved drug for the treatment of polyneuropathy of hereditary transthyretin-mediated (hATTR) amyloidosis in adults. The company also has other candidates in its pipeline. Alnylam along with partner The Medicine Company MDCO is evaluating inclisiran in phase III ORION studies for hypercholesterolemia. Alnylam’s expertise in RNAi therapeutics and broad intellectual property estate have allowed it to enter collaborations with leading pharmaceutical and life sciences companies, including Ionis Pharmaceuticals, Novartis NVS, Roche RHHBY, Takeda, Merck and Sanofi’s specialty care global business unit, Genzyme, among others. Alnylam Pharmaceuticals, Inc. Price Alnylam Pharmaceuticals, Inc. price \| Alnylam Pharmaceuticals, Inc. Quote Zacks Rank Alnylam currently carries a Zacks Rank #3 (Hold). You can seethe complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. This Could Be the Fastest Way to Grow Wealth in 2019 Research indicates one sector is poised to deliver a crop of the best-performing stocks you'll find anywhere in the market. Breaking news in this space frequently creates quick double- and triple-digit profit opportunities. These companies are changing the world – and owning their stocks could transform your portfolio in 2019 and beyond. Recent trades from this sector have generated+98%,+119%and+164%gains in as little as 1 month. Click here to see these breakthrough stocks now >> 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 reportNovartis AG (NVS) : Free Stock Analysis ReportRoche Holding AG (RHHBY) : Free Stock Analysis ReportThe Medicines Company (MDCO) : Free Stock Analysis ReportAlnylam Pharmaceuticals, Inc. (ALNY) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research
5 Cheap ETFs That Aren’t Actually a Good Value There are now scores of cheap ETFs and by all accounts, investors love these products. Honing in on a specific fee range, even when excluding the two ETFs that do not have annual fees,there are 100 ETFsin the U.S. with expense ratios of 0.02%, or $2 on a $10,000 investment, to 0.08%. That’s a lot of cheap ETFs. Seductive as cheap ETFs may be, investors owe it to themselves to approach these funds with discerning eyes. Remember, there is a difference betweenvalue and value traps. Said another way, not all cheap ETFs are good ETFs. Likewise, there aresome expensive ETFsthat merit their high fees. It is a slippery slope for investors. Scores of academic research and data points confirm that over the long term, saving on fees can have a meaningful impact on total returns. What investors need to weigh is saving with a cheap ETF really worth it if there is a better option with a higher fee out there. InvestorPlace - Stock Market News, Stock Advice & Trading Tips In other words, if Fund A costs 0.05% per year and averages annual returns of 5%, but Fund B costs 0.30% a year and averages annual returns of 10%, simple math says Fund B is the better bet. • 7 Restaurant Stocks to Put on Your Plate With that in mind, here are some cheap ETFs that have better, but pricier rivals. Source:GotCredit via Flickr (Modified) Expense ratio: 0.04% per year, or $4 on a $10,000 investment. TheSchwab U.S. Large-Cap Value ETF(NYSEARCA:SCHV) is one of the cheapest ETFs in the value arena. Plus, Schwab clients can realize additional savings because the brokerage allows clients to trade its ETFs (and hundreds of others) commission-free. On a standalone basis, SCHV is not a bad cheap ETF. It is up 34.4% over the past three years, an admirable showing considering the struggles of value stocks over the course of this bull market. SCHV’s strategy is easy to understand and the fund isappropriate for newand conservative investors alike. So there are plenty of benefits with this fund. However, it is hard to endorse this cheap ETF knowing that theiShares Edge MSCI USA Value Factor ETF(CBOE:VLUE) is out there. VLUE charges 0.15% per year, still decent among smart beta strategies, and the iShares fund has consistently outperformed SCHV by a wide enough margin that the cheaper ETF’s fee is rendered moot. Source: Shutterstock Expense ratio: 0.12% Home to $61.3 billion in assets under management, theVanguard FTSE Emerging Markets ETF(NYSEARCA:VWO) is the largest emerging markets fund in the world. It is also a cheap ETF. For emerging markets investors, there is a lot to like with VWO. It holds over 4,600 stocks and offers exposure to dozens of developing economies, throughChina is taking on increased prominencein this fund. As is the case with the aforementioned SCHV, VWO is not a bad cheap ETF per se. The rub with this fund is that there are more compelling options out there with higher price tags. Moreover, at least one of those funds is outperforming VWO by a wide enough margin that the higher fee is warranted. The JPMorgan Diversified Return Emerging Markets Equity ETF (NYSEARCA:JPEM) is a multi-factor fund that charges 0.45% per year. That fund’s “index uses a multi-factor stock screening process that has historically driven strong performance,”according to the issuer. • 7 Stocks on Sale the Insiders Are Buying Over the past three years, JPEM has outpaced VWO by 360 basis points with less volatility. Source: Shutterstock Expense ratio: 0.07% TheiShares Core S&P Mid-Cap ETF(NYSEARCA:IJH) is a cheap ETF avenue to mid-cap stocks. Its straight forward approach (it tracks the S&P MidCap 400 Index), coupled with its low fee, make it an appealing avenue to anoften overlooked cornerof the equity market. In fact, IJH is one of the cheapest ETFs in the mid-cap space and some competing funds that track the same index have significantly higher fees. The quibble with IJH is that there are better-performing options out there with higher fees, some of which also have significantly lower volatility than IJH. Sure, theInvesco S&P MidCap Low Volatility ETF(NYSEARCA:XMLV) charges 0.25% per year, but over the past three years, the fund has been almost 300 basis points less volatile than IJH while outperforming the cheap ETF by more than 800 basis points. Source: Shutterstock Expense ratio: 0.07% When shopping for a traditional municipal bond fund, investors should seek a broad, high-quality cheap ETF. TheiShares National Muni Bond ETF(NYSEARCA:MUB). Thing is many cheap ETFs in the municipal bond space seem like they are intended for ultra-conservative investors that simply want a vehicle with steady income and slightly higher yields than cash instruments. Because theVanEck Vectors Municipal Allocation ETF(CBOE:MAAX) is a new fund (it debuted last month), weighing its past performance against MUB and other cheap ETFs in this space is currently impossible. The comparison hereis more about potential. • 7 One-Stock Portfolios for Passive Investors MAAX charges 0.36% per year and because it holds other VanEck municipal bond ETFs, its roster is not only massive in terms of issues, the new ETF also spans durations and features a wide arrange of credit opportunities, both investment-grade and junk. Features like that are not found on many cheap muni ETFs. Source: Shutterstock Expense ratio: 0.06% There are plenty of cheap ETFs in the dividend realm and theSchwab U.S. Dividend Equity ETF(NYSEARCA:SCHD) is one of those funds. SCHD has attracted a following in part to its low fee and its emphasis on domestic stocks that have dividend increase streaks of at least 10 years. Overall, this a sound, cost-effective fund for dividend investors. Those willing to jump up in fees, however, could be rewarded by theWisdomTree U.S. Quality Dividend Growth Fund(NASDAQ:DGRW), which wehighlighted hereearlier this month. At that time, we noted DGRW’s underlying index emphasizes “both ROE and return on assets (ROA) as part of the selection requirements. Using ROA as a screening criterion penalizes firms using leverage to drive ROE,” said WisdomTree. Over the past three years, DGRW, which pays a monthly dividend, has topped the cheap ETF SCHD by almost 700 basis points. Todd Shriber owns shares of DGRW and VWO • 2 Toxic Pot Stocks You Should Avoid • 10 Best Stocks to Buy and Hold Forever • 10 Small-Cap Stocks That Look Like Bargains • 10 Names That Are Screaming Stocks to Buy The post5 Cheap ETFs That Aren’t Actually a Good Valueappeared first onInvestorPlace.
Marathon Petroleum Corporation (NYSE:MPC) Delivered A Weaker ROE Than Its Industry Want to participate in ashort research study? Help shape the future of investing tools and you could win a $250 gift card! Many investors are still learning about the various metrics that can be useful when analysing a stock. This article is for those who would like to learn about Return On Equity (ROE). We'll use ROE to examine Marathon Petroleum Corporation (NYSE:MPC), by way of a worked example. Our data showsMarathon Petroleum has a return on equity of 8.3%for the last year. One way to conceptualize this, is that for each $1 of shareholders' equity it has, the company made $0.083 in profit. View our latest analysis for Marathon Petroleum Theformula for return on equityis: Return on Equity = Net Profit ÷ Shareholders' Equity Or for Marathon Petroleum: 8.3% = US$2.7b ÷ US$44b (Based on the trailing twelve months to March 2019.) It's easy to understand the 'net profit' part of that equation, but 'shareholders' equity' requires further explanation. It is the capital paid in by shareholders, plus any retained earnings. You can calculate shareholders' equity by subtracting the company's total liabilities from its total assets. ROE measures a company's profitability against the profit it retains, and any outside investments. The 'return' is the yearly profit. The higher the ROE, the more profit the company is making. So, all else being equal,a high ROE is better than a low one. 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. However, this method is only useful as a rough check, because companies do differ quite a bit within the same industry classification. As is clear from the image below, Marathon Petroleum has a lower ROE than the average (11%) in the Oil and Gas industry. That certainly isn't ideal. We prefer it when the ROE of a company is above the industry average, but it's not the be-all and end-all if it is lower. Nonetheless, it might be wise tocheck if insiders have been selling. Companies usually need to invest money to grow their profits. That cash can come from issuing shares, retained earnings, or debt. In the first two cases, the ROE will capture this use of capital to grow. In the latter case, the debt used for growth will improve returns, but won't affect the total equity. That will make the ROE look better than if no debt was used. Marathon Petroleum has a debt to equity ratio of 0.64, which is far from excessive. Although the ROE isn't overly impressive, the debt load is modest, suggesting the business has potential. Careful use of debt to boost returns is often very good for shareholders. However, it could reduce the company's ability to take advantage of future opportunities. Return on equity is useful for comparing the quality of different businesses. A company that can achieve a high return on equity without debt could be considered a high quality business. If two companies have around the same level of debt to equity, and one has a higher ROE, I'd generally prefer the one with higher ROE. Having said that, while ROE is a useful indicator of business quality, you'll have to look at a whole range of factors to determine the right price to buy a stock. Profit growth rates, versus the expectations reflected in the price of the stock, are a particularly important to consider. So you might want to take a peek at thisdata-rich interactive graph of forecasts for the company. But note:Marathon Petroleum may not be the best stock to buy. So take a peek at thisfreelist of interesting companies with high ROE and low debt. We aim to bring you long-term focused research analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material.If you spot an error that warrants correction, please contact the editor ateditorial-team@simplywallst.com. This article by Simply Wall St is general in nature. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Simply Wall St has no position in the stocks mentioned. Thank you for reading.
5 Reasons to Switch to an Online Bank Today If you're still using a local bank, you're missing out. Here's why you should switch to an online bank. Image source: Getty Images In 2019, you don’t have to get stuck banking with a brick-and-mortar financial institution. In fact, if you’re still using your local bank, you’re paying more than you need to and missing out on some big benefits. It’s time to come out of the dark ages.Make the switchto an online-only institution. Not convinced you should change your banking relationship? Here are five reasons why you should move your money. Does your bank charge a fee if you don’t maintain a minimum balance? Are you required to make a certain number of monthly direct deposits? These restrictions are common at local banks. Truly free checking with no strings attached is really hard to find. Unless you enjoy your bank setting rules foryourmoney, you should look for an online bank. Free checking is more common with internet-only banks, letting you break free of monthly fees. Many online banks also allow you to take money out atanyATM without incurring a fee. They'll even reimburse you for fees other banks charge you. In contrast, local banks typically expect you to pay them for the privilege of accessing your money at an out-of-network ATM. If you don’t want to pay to get your hands on your own money, online banks are the answer. Savings account interest rates are dismal, and many checking accounts pay no interest at all. Online banks tend to pay more interest than local banks, so you can get a bit of a reward for your banking relationship. Do you plan to park a lot of money in a savings account? Do you tend to maintain a high checking account balance? Then it's definitely worth looking for a better rate from an online-only bank. You’ll probably be able to boost your rate with just a few minutes of shopping around. Some people think online-only banks are less convenient than brick-and-mortar banks because there's no physical branch. But do youreallywant to get in your car during bank hours and drive to the branch to get help? You don’t have to with online banks. Online institutions provide ample opportunities for customer service via online chat and over the phone. The availability of 24/7 service is more common with online banks, too. And they typically have higher mobile deposit limits than local banks do. So you don't have to deposit a big check in person if you bank online. The only way online banks are less convenient is when it comes to depositing cash. Fortunately, there are workarounds like buying money orders or using linked ATMs to deposit your funds. Online banks need to tap into technology more than local banks. This means you can usually expect better, more full-featured apps. Some local banks have kept up with the latest in mobile technologies. But others lack features likeZelle's instant money transfers. If you want to be able to do a lot from your phone or computer, an online bank is a better choice. When you move for work or school, do you want to deal with switching your bank? Those first few weeks are busy, and opening new accounts isn't high on anyone's list. But if you bank with a local branch, you’ll probably need to. If your closest local bank is hundreds of miles away, getting money out of an ATM or going to a teller isn’t practical. With an online bank, you don’t have to worry if you move or travel far away. You can still continue using your account the same way you always did. These five benefits of online banking should convince most everyone thatmoving to an online bankis the best financial choice. Open an account with a great online bank today and start the process of moving your money over. Then reap the benefits that only internet banks can offer. The Motley Fool owns and recommends MasterCard and Visa, and recommends American Express. We’re firm believers in the Golden Rule. If we wouldn’t recommend an offer to a close family member, we wouldn’t recommend it on The Ascent either. Our number one goal is helping people find the best offers to improve their finances. That is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers. Editorial content from The Ascent is separate from The Motley Fool editorial content and is created by a different analyst team.
Instagram's new stickers let you 'request' to join a group chat Ever feel like Instagram is a bit of a popularity contest? If you don't already, the app's latest update might change your mind. The app just added a new type of sticker for Instagram Stories that lets friends "request" to join a group chat right from your Story. Here's how it works: the new sticker, rolling out to the app now, appears alongside the rest of the Stories stickers. Once you choose it, you add a text prompt about what you want to chat about. Friends who view the post tap "join chat" for the chance to be in the group DM. The person who posted the sticker gets to control who can join and can end the chat whenever they want.Read more... More aboutTech,Instagram,Instagram Stories,Tech, andConsumer Tech
Here's What You Should Know About Tennant Company's (NYSE:TNC) 1.5% Dividend Yield Want to participate in ashort research study? Help shape the future of investing tools and you could win a $250 gift card! Could Tennant Company (NYSE:TNC) be an attractive dividend share to own for the long haul? Investors are often drawn to strong companies with the idea of reinvesting the dividends. Unfortunately, it's common for investors to be enticed in by the seemingly attractive yield, and lose money when the company has to cut its dividend payments. A 1.5% yield is nothing to get excited about, but investors probably think the long payment history suggests Tennant has some staying power. Some simple analysis can offer a lot of insights when buying a company for its dividend, and we'll go through this below. Click the interactive chart for our full dividend analysis Dividends are usually paid out of company earnings. If a company is paying more than it earns, then the dividend might become unsustainable - hardly an ideal situation. So we need to form a view on if a company's dividend is sustainable, relative to its net profit after tax. Tennant paid out 44% of its profit as dividends, over the trailing twelve month period. A medium payout ratio strikes a good balance between paying dividends, and keeping enough back to invest in the business. One of the risks is that management reinvests the retained capital poorly instead of paying a higher dividend. We also measure dividends paid against a company's levered free cash flow, to see if enough cash was generated to cover the dividend. The company paid out 62% of its free cash flow, which is not bad per se, but does start to limit the amount of cash Tennant has available to meet other needs. It's encouraging to see that the dividend is covered by both profit and cash flow. This generally suggests the dividend is sustainable, as long as earnings don't drop precipitously. As Tennant has a meaningful amount of debt, we need to check its balance sheet to see if the company might have debt risks. A rough way to check this is with these two simple ratios: a) net debt divided by EBITDA (earnings before interest, tax, depreciation and amortisation), and b) net interest cover. Net debt to EBITDA is a measure of a company's total debt. Net interest cover measures the ability to meet interest payments. Essentially we check that a) the company does not have too much debt, and b) that it can afford to pay the interest. Tennant has net debt of 2.51 times its EBITDA. Using debt can accelerate business growth, but also increases the risks. We calculated its interest cover by measuring its earnings before interest and tax (EBIT), and dividing this by the company's net interest expense. With EBIT of 3.60 times its interest expense, Tennant's interest cover is starting to look a bit thin. Consider gettingour latest analysis on Tennant's financial position here. One of the major risks of relying on dividend income, is the potential for a company to struggle financially and cut its dividend. Not only is your income cut, but the value of your investment declines as well - nasty. For the purpose of this article, we only scrutinise the last decade of Tennant's dividend payments. During the past ten-year period, the first annual payment was US$0.52 in 2009, compared to US$0.88 last year. Dividends per share have grown at approximately 5.4% per year over this time. Companies like this, growing their dividend at a decent rate, can be very valuable over the long term, if the rate of growth can be maintained. The other half of the dividend investing equation is evaluating whether earnings per share (EPS) are growing. Over the long term, dividends need to grow at or above the rate of inflation, in order to maintain the recipient's purchasing power. In the last five years, Tennant's earnings per share have shrunk at approximately 2.1% per annum. Declining earnings per share over a number of years is not a great sign for the dividend investor. Without some improvement, this does not bode well for the long term value of a company's dividend. To summarise, shareholders should always check that Tennant's dividends are affordable, that its dividend payments are relatively stable, and that it has decent prospects for growing its earnings and dividend. Tennant's dividend payout ratios are within normal bounds, although we note its cash flow is not as strong as the income statement would suggest. Second, earnings per share have actually shrunk, but at least the dividends have been relatively stable. While we're not hugely bearish on it, overall we think there are potentially better dividend stocks than Tennant out there. You can also discover whether shareholders are aligned with insider interests bychecking our visualisation of insider shareholdings and trades in Tennant stock. If you are a dividend investor, you might also want to look at ourcurated list of dividend stocks yielding above 3%. We aim to bring you long-term focused research analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material.If you spot an error that warrants correction, please contact the editor ateditorial-team@simplywallst.com. This article by Simply Wall St is general in nature. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Simply Wall St has no position in the stocks mentioned. Thank you for reading.
Does Citigroup Inc.'s (NYSE:C) CEO Pay Matter? Want to participate in ashort research study? Help shape the future of investing tools and you could win a $250 gift card! Mike Corbat has been the CEO of Citigroup Inc. (NYSE:C) since 2012. This analysis aims first to contrast CEO compensation with other large companies. After that, we will consider the growth in the business. And finally - as a second measure of performance - we will look at the returns shareholders have received over the last few years. This process should give us an idea about how appropriately the CEO is paid. View our latest analysis for Citigroup According to our data, Citigroup Inc. has a market capitalization of US$164b, and pays its CEO total annual compensation worth US$24m. (This is based on the year to December 2018). We think total compensation is more important but we note that the CEO salary is lower, at US$1.5m. When we examined a group of companies with market caps over US$8.0b, we found that their median CEO total compensation was US$11m. (We took a wide range because the CEOs of massive companies tend to be paid similar amounts - even though some are quite a bit bigger than others). As you can see, Mike Corbat is paid more than the median CEO pay at large companies, in the same market. However, this does not necessarily mean Citigroup Inc. is paying too much. We can get a better idea of how generous the pay is by looking at the performance of the underlying business. You can see a visual representation of the CEO compensation at Citigroup, below. On average over the last three years, Citigroup Inc. has shrunk earnings per share by 26% each year (measured with a line of best fit). The trailing twelve months of revenue was pretty much the same as the prior period. Sadly for shareholders, earnings per share are actually down, over three years. And the flat revenue is seriously uninspiring. These factors suggest that the business performance wouldn't really justify a high pay packet for the CEO. Shareholders might be interested inthisfreevisualization of analyst forecasts. I think that the total shareholder return of 78%, over three years, would leave most Citigroup Inc. shareholders smiling. So they may not be at all concerned if the CEO were to be paid more than is normal for companies around the same size. We compared the total CEO remuneration paid by Citigroup Inc., and compared it to remuneration at a group of other large companies. Our data suggests that it pays above the median CEO pay within that group. Neither earnings per share nor revenue have been growing sufficiently fast to impress us, over the last three years. On the other hand, returns have been good, so the company is doing something right. Given this situation we doubt shareholders are particularly concerned about the CEO compensation. If you think CEO compensation levels are interesting you will probably really likethis free visualization of insider trading at Citigroup. Of course,you might find a fantastic investment by looking elsewhere.So take a peek at thisfreelist of interesting companies. 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.
Facebook cracks down on bogus ‘health cures’ after anti-vax purge Mark Zuckerberg's social network is clamping down on bogus health content (Photo by Mustafa Yalcin/Anadolu Agency/Getty Images) In recent years, Facebook has become notorious for misleading health content such as ‘anti-vaxx’ content - and supposed ‘miracle cures’ which actually do nothing. But Mark Zuckerberg’s company is to start stamping down on supposed health products which don’t actually have health benefits. The move comes in the wake of moves in March to clamp down on anti-vaccine content. It’s doing so by analysing posts to see if they exaggerate or mislead - or are trying to ‘push products’ based on claims related to health. The company said it achieves this by spotting out phrases commonly seen in posts to flag up potential content with sensational health claims or promoting products with health-related claims. READ MORE Thug jailed for beating man to death as he celebrated his birthday "In our ongoing efforts to improve the quality of information in news feed, we consider ranking changes based on how they affect people, publishers and our community as a whole," explained Travis Yeh, a product manager at Facebook. Facebook previously clamped down on anti-vaccine content (Photo credit should read FRED TANNEAU/AFP/Getty Images) "We know that people don't like posts that are sensational or spammy, and misleading health content is particularly bad for our community." Facebook warned Group owners to avoid posting about health issues that exaggerate or mislead people, but said Pages won't see any significant changes to their distribution in the News Feed. The move follows a wider effort to clamp down on misinformation, with anti-vaccination content made less visible from March. Watch the latest videos from Yahoo UK
A Look At The Fair Value Of Monster Beverage Corporation (NASDAQ:MNST) Want to participate in ashort research study? Help shape the future of investing tools and you could win a $250 gift card! Does the July share price for Monster Beverage Corporation (NASDAQ:MNST) reflect what it's really worth? Today, we will estimate the stock's intrinsic value by taking the expected future cash flows and discounting them to today's value. I will be using the Discounted Cash Flow (DCF) model. It may sound complicated, but actually it is quite simple! We generally believe that a company's value is the present value of all of the cash it will generate in the future. However, a DCF is just one valuation metric among many, and it is not without flaws. Anyone interested in learning a bit more about intrinsic value should have a read of theSimply Wall St analysis model. See our latest analysis for Monster Beverage We use what is known as a 2-stage model, which simply means we have two different periods of growth rates for the company's cash flows. Generally the first stage is higher growth, and the second stage is a lower growth phase. To start off with, we need to estimate the next ten years of cash flows. Where possible we use analyst estimates, but when these aren't available we extrapolate the previous free cash flow (FCF) from the last estimate or reported value. We assume companies with shrinking free cash flow will slow their rate of shrinkage, and that companies with growing free cash flow will see their growth rate slow, over this period. We do this to reflect that growth tends to slow more in the early years than it does in later years. Generally we assume that a dollar today is more valuable than a dollar in the future, so we need to discount the sum of these future cash flows to arrive at a present value estimate: [{"": "Levered FCF ($, Millions)", "2020": "$1.2b", "2021": "$1.4b", "2022": "$1.4b", "2023": "$1.5b", "2024": "$1.6b", "2025": "$1.7b", "2026": "$1.7b", "2027": "$1.8b", "2028": "$1.8b", "2029": "$1.9b"}, {"": "Growth Rate Estimate Source", "2020": "Analyst x7", "2021": "Analyst x4", "2022": "Est @ 6.72%", "2023": "Est @ 5.52%", "2024": "Est @ 4.68%", "2025": "Est @ 4.1%", "2026": "Est @ 3.69%", "2027": "Est @ 3.4%", "2028": "Est @ 3.2%", "2029": "Est @ 3.06%"}, {"": "Present Value ($, Millions) Discounted @ 7.5%", "2020": "$1.2k", "2021": "$1.2k", "2022": "$1.2k", "2023": "$1.1k", "2024": "$1.1k", "2025": "$1.1k", "2026": "$1.0k", "2027": "$999.4", "2028": "$959.4", "2029": "$919.8"}] ("Est" = FCF growth rate estimated by Simply Wall St)Present Value of 10-year Cash Flow (PVCF)= $10.7b The second stage is also known as Terminal Value, this is the business's cash flow after the first stage. The Gordon Growth formula is used to calculate Terminal Value at a future annual growth rate equal to the 10-year government bond rate of 2.7%. We discount the terminal cash flows to today's value at a cost of equity of 7.5%. Terminal Value (TV)= FCF2029× (1 + g) ÷ (r – g) = US$1.9b × (1 + 2.7%) ÷ (7.5% – 2.7%) = US$41b Present Value of Terminal Value (PVTV)= TV / (1 + r)10= $US$41b ÷ ( 1 + 7.5%)10= $19.82b The total value, or equity value, is then the sum of the present value of the future cash flows, which in this case is $30.56b. To get the intrinsic value per share, we divide this by the total number of shares outstanding.This results in an intrinsic value estimate of $56.22. Relative to the current share price of $64.77, the company appears around fair value at the time of writing. Valuations are imprecise instruments though, rather like a telescope - move a few degrees and end up in a different galaxy. Do keep this in mind. The calculation above is very dependent on two assumptions. The first is the discount rate and the other is the cash flows. If you don't agree with these result, have a go at the calculation yourself and play with the assumptions. The DCF also does not consider the possible cyclicality of an industry, or a company's future capital requirements, so it does not give a full picture of a company's potential performance. Given that we are looking at Monster Beverage as potential shareholders, the cost of equity is used as the discount rate, rather than the cost of capital (or weighted average cost of capital, WACC) which accounts for debt. In this calculation we've used 7.5%, which is based on a levered beta of 0.800. Beta is a measure of a stock's volatility, compared to the market as a whole. We get our beta from the industry average beta of globally comparable companies, with an imposed limit between 0.8 and 2.0, which is a reasonable range for a stable business. Although the valuation of a company is important, it shouldn’t be the only metric you look at when researching a company. The DCF model is not a perfect stock valuation tool. Rather it should be seen as a guide to "what assumptions need to be true for this stock to be under/overvalued?" If a company grows at a different rate, or if its cost of equity or risk free rate changes sharply, the output can look very different. For Monster Beverage, I've compiled three fundamental factors you should further research: 1. Financial Health: Does MNST have a healthy balance sheet? Take a look at ourfree balance sheet analysis with six simple checkson key factors like leverage and risk. 2. Future Earnings: How does MNST's growth rate compare to its peers and the wider market? Dig deeper into the analyst consensus number for the upcoming years by interacting with ourfree analyst growth expectation chart. 3. Other High Quality Alternatives: Are there other high quality stocks you could be holding instead of MNST? Exploreour interactive list of high quality stocksto get an idea of what else is out there you may be missing! PS. Simply Wall St updates its DCF calculation for every US stock every day, so if you want to find the intrinsic value of any other stock justsearch here. We aim to bring you long-term focused research analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material.If you spot an error that warrants correction, please contact the editor ateditorial-team@simplywallst.com. This article by Simply Wall St is general in nature. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Simply Wall St has no position in the stocks mentioned. Thank you for reading.
KFC Canada to remove plastic straws and bags from restaurants by October KFC Canada says it will stop using plastic straws and bags at restaurant locations across the country by October 2019. The fast food retailer announced Tuesday that it is launching a series of sustainability initiatives aimed at reducing the company’s use of plastic products, beginning with the removal of plastic straws and bags. KFC Canada said the move will see 50 million plastic straws and 10 million plastic bags removed from restaurants. “KFC Canada believes in feeding people, not landfills,” KFC Canada president and general manager Nivera Wallani said in a statement. “Reducing the volume of single use plastic within our restaurants ensures we are continuing to lessen our environmental footprint.” KFC announced earlier this year that it would be shifting towards more sustainable packaging, pledging that all of the plastic-based packaging currently used at its restaurants will be made of recoverable or reusable materials by 2025. The company also said it is working on an audit with franchisees to help identify opportunities for plastic waste reduction. “This critical initiative, and the many more to follow, will enhance the long-term quality of life in the communities we serve,” Shehzad Janmohamed, chief executive of KFC Canada franchise partner Soul Foods Group, said in a statement. KFC Canada is certainly not the only quick service restaurant launching initiatives aimed at reducing its environmental footprint. Tim Hortons announced in May that it wasintroducing a 100 per cent recyclable lid aimed at reducing spills and the company’s carbon footprint.It is also testing other sustainability initiatives, including an improved paper cup and strawless lids for its iced coffees. Download the Yahoo Finance app, available forAppleandAndroid.

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