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Customers for Life: How to Become Part of the Homeownership Lifecycle

What: As a real estate professional, the job isn’t only to help clients buy and sell for a single transaction—it’s so much more than that. In fact, it is crucial for agents, especially in today’s competitive market, to create meaningful and long-lasting relationships. Coaching, training and continued education will help agents not only learn the… The post Customers for Life: How to Become Part of the Homeownership Lifecycle appeared first on RISMedia. What: As a real estate professional, the job isn’t only to help clients buy and sell for a single transaction—it’s so much more than that. In fact, it is crucial for agents, especially in today’s competitive market, to create meaningful and long-lasting relationships. Coaching, training and continued education will help agents not only learn the tools and strategies for attracting clients, but become a lifelong resource and expert in the real estate market. In this webinar, agents will hear from experts about how to become part of the homeownership lifecycle and create lifelong customers. When: Wednesday, June 1, 2022 at 2 p.m. ET Register Now! Sponsored by:     Moderated by:     Speakers: Moderator: Sarah Bernard, senior coach and team leader for Workman Success Systems, is committed to learning and improving her team management skills every day. During her first year in real estate, Bernard sold $6 million in properties with 12 transactions and was a Rookie of the Year. Since then, she has developed a team of several buyer and listing agents and a support staff. In addition, Bernard’s property management business, which specializes in vacation rentals, has grown from two properties to 20 with its own sales and support staff. Marshall O’Keefe is a senior director of business development at Rocket Mortgage, leading a diverse team of industry experts who are focused on identifying and developing partnerships with real estate professionals. With a goal of bringing the “Power of Rocket” to real estate companies and agents across the nation, O’Keefe and his team offer unmatched technology and marketing tools to help find new efficiencies and differentiators to grow their business. Nicole Bostrom Cogan, licensed attorney and a real estate broker with her firm, The Real Estate Center, sees her role as not only an advocate, but also an educator. Whether that is mentoring agents in her firm or coaching other Workman Success Systems clients, few things bring her more joy than helping others fulfill their dreams. After working in the real estate industry for over 20 years, Cogan has had the opportunity to grow with and learn the market, and share her experiences with others through training and education. Yamel Ramirez Maynard has worked her way up from being an independent commercial/residential REALTOR® and property manager to broker associate and sales manager of over 200 agents at Keller Williams World Media Center. In 2021, she completed certification and training to earn the distinction as a Workman Success Systems Certified Coach. Today, she uses the systems and models that she teaches and learns from Workman Success Systems to co-run The Maynard Real Estate Group with her husband, Rob Maynard. Each month, RISMedia’s webinars draw more than 1,000 agents and brokers from across the country, eager for exclusive insight from the industry’s most profitable professionals. For a recap of our recent webinar, “Keeping Risk Management a Priority While Negotiating for Your Clients,” please visit RISMedia’s Housecall. To access all RISMedia webinars, please subscribe on YouTube. The post Customers for Life: How to Become Part of the Homeownership Lifecycle appeared first on RISMedia......»»

Source:  rismediaCategory: realestate~1 hr. 6 min. ago Related News

Elon Musk will either pay far less for Twitter or use fake accounts as an excuse to walk away, experts say

Musk said last week that if 25% of users were bots, the deal for Twitter should cost 25% less. Experts agree the $44 billion offer looks expensive. Elon Musk wants to renegotiate the deal if Twitter cannot prove that fewer than 5% of users are bots.AP Elon Musk continues to delay his $44 billion Twitter deal over the number of bots on the platform. The founder of social media app MeWe told Insider $23 billion is a fairer price to pay. A Wedbush analyst said Musk has two options: renegotiate or use it as an excuse to pull the plug. Elon Musk's $44 billion Twitter acquisition continues to hang in the balance after the Starlink and Tesla CEO put the deal on hold pending confirmation of the number of bots on the platform. Last weekend, his rhetoric intensified, first calling Twitter's lack of clarity on how the company calculated the 5% bots figure "very suspicious". He then agreed with a comment suggesting that if 25% of users on Twitter were bots, the deal to buy the platform should cost 25% less, which would knock a potential $11 billion off the sale price.As scrutiny of Musk mounts and his other companies lose value, the billionaire is under pressure to make a decision on the takeover before his net worth declines even more. Experts say he two options: renegotiate the deal, or walk away entirely. How many bots are on Twitter? Twitter's official estimate is that less than 5% of its 229 million monetizable daily active users are automated bots.That differs from research by Dan Brahmy, CEO of the Israeli tech company Cyabra, who gave Reuters an estimate of 13.7%. Musk himself told the "All In" podcast he thinks the number is at least 20%.But most experts have argued it is very difficult to quantify the number of bots on Twitter, with Kai-Cheng Yang and Filippo Menczer arguing in The Conversation that the definition of a bot is disputed, and that the argument misses the point because it ignores different users' experiences.The number of genuine active users has implications for the final price of a deal.Mark Weinstein, founder of MeWe, a "freemium" social networking app with 20 million users, told Insider that advertisers give Twitter money on the basis they are marketing to humans. If millions of users are actually bots, then Twitter would be worth less, he said. "If it was proven that 25% of the [users] were actually bots, then advertisers would demand a lower rate, if Twitter was unable to filter them out," Weinstein said. Will Musk get his 25% discount?Weinstein argued a fair price for Twitter was closer to $23 billion. He is not alone in thinking the current deal is overvalued. "There's clearly an argument that his offer is inflated," Weinstein said. "And it maybe should be adjusted to reflect the [user] revenue reality and the calculation for value based on that."In a recent research note, Wedbush analyst Dan Ives said the $54.20 a share offer was "out the window" as scrutiny on the number of bots increased. But if a new price can't be negotiated, Musk will be forced to pay a $1 billion break fee."We believe it's currently a 60% chance that Musk tries to walk and use this spam account issue as the scapegoat to get out of the deal and a 40% chance Twitter's board and Musk come to a new deal price over the coming weeks," Ives said.That new deal, Ives said, would be somewhere closer to the mid-$40 a share mark – a steep discount that would bring Musk close to his 25% discount demand.However, Ives said Musk needed to hurry up before Tesla and Starlink stock fell again: "Musk is facing a fork in the road situation in which he has to decide his next step in this soap opera as Tesla investor patience is wearing very thin." Twitter declined to comment.Read the original article on Business Insider.....»»

Source:  businessinsiderCategory: top~1 hr. 7 min. ago Related News

This ghost kitchen serves up dishes for 10 restaurants – take a look inside

Greek, Thai and pizza are all prepared at Growth Kitchen's site in London, where delivery drivers collect hundreds of orders every day. Growth Kitchen operates two sites in London where each brand has its own facilities.Grace Dean/Insider Ghost kitchens allow brands to boost their delivery capacity without the expense of a new outlet. Growth Kitchen operates two sites in London where brands rent their own facilities. Insider went behind the scenes at one of the ghost kitchens that is home to 10 brands. Ever wonder where your restaurant chain takeout was actually cooked? There's a chance it wasn't actually made in one of their restaurants and was instead prepared in a "ghost kitchen".A takeaway pizza.Aleksandr Zubkov/Getty ImagesSource: InsiderI went behind inside Growth Kitchen, a London ghost kitchen company that provides space for restaurant brands to prepare dishes and increase their delivery capacity without the expense of a full-service restaurant.The exterior of Growth Kitchen's site in Balham, south London.Grace Dean/InsiderSource: InsiderThe ghost kitchen is located on an industrial estate in a residential area of London – not where you'd expect takeout orders to be made. Because they don't serve customers directly, ghost kitchens can be located away from high streets in areas with lower rents and less floor space.The industrial estate that houses Growth Kitchen's Balham site.Grace Dean/InsiderThe exterior of the building is largely nondescript. I arrived at 2:30 p.m., just after the lunch rush, though there were a few bikes parked outside.The exterior of Growth Kitchen's site in Balham, London.Grace Dean/InsiderDelivery drivers collecting orders enter through the front door, which has a list of all the restaurant brands with kitchens there.The exterior of Growth Kitchen's site in Balham, London.Grace Dean/InsiderInside is space for drivers to sit while they wait for orders, as well as access to restrooms, phone chargers, and a water fountain. Growth Kitchen told Insider that drivers' welfare was important to the company.Delivery drivers seated in Growth Kitchen's site in Balham, south London.Grace Dean/InsiderThe building is based around two main corridors ...The layout of Growth Kitchen's site in Balham, south London.Grace Dean/Insider... with pickup windows for each brand. Looking inside, you can peek at their individual kitchen spaces.A pickup window for delivery drivers to collect orders in Growth Kitchen's site in Balham, London.Grace Dean/InsiderThe layouts of the kitchens vary. The company's founders told Insider that the kitchens are adapted to the needs of each brand.A pickup window for delivery drivers to collect orders in Growth Kitchen's site in Balham, south London.Grace Dean/InsiderWhereas some other ghost facilities have brands share kitchens and even staff, Growth Kitchen has one for each outlet with staff hired directly by the chains. Shared kitchen space "is not the future," cofounder Máté Kun told Insider.The layout of one of the kitchens in Growth Kitchen's site in Balham, south London.Grace Dean/InsiderBrands want to control their reputation and reduce risk by having their own kitchens and staff, said cofounder Tom Gatz. Because the kitchens are catered to each brand, having multiple staff working in one facility would ruin the flow, he said.A pickup window for delivery drivers to collect orders in Growth Kitchen's site in Balham, London.Grace Dean/InsiderBy operating ghost kitchens, staff can focus on order quality and speed without worrying about customer service, Gatz and Kun said. The company says that setting up a kitchen in one of their hubs is far cheaper and faster than a bricks-and-mortar restaurant.A pickup window for delivery drivers to collect orders in Growth Kitchen's site in Balham, London.Grace Dean/InsiderIn total, there are 10 brands at the Growth Kitchen hub I visited, which Gatz and Kun said collectively fulfill at least 800 orders a day.A pickup window for delivery drivers to collect orders in Growth Kitchen's site in Balham, London.Grace Dean/InsiderGatz and Kun said that there were criteria brands had to meet before getting a space in the kitchen, such as having a five-star food-hygiene rating and a commitment to sustainability, including packaging from recycled materials.A sign showing a five-star food-hygiene rating in Growth Kitchen's site in Balham, south London.Grace Dean/InsiderThe brands are all distinct, preparing cuisines ranging from Greek and Thai to Mexican and pizza. Growth Kitchen says this means they do not compete with each other directly.Different brands being made at Growth Kitchen's site in Balham, London.Grace Dean/InsiderThe brands can prepare orders for any delivery apps at the site, with the main three being Deliveroo, Uber Eats, and Just Eat, but Kun said that Growth Kitchen is encouraging restaurants to use proprietary delivery channels instead to capture customer data.The exterior of Growth Kitchen's site in Balham, London.Grace Dean/InsiderIn exchange for kitchen space as well as access to Growth Kitchen's resources and data, Gatz and Kun said brands can pay a fixed fee and commission on sales, or just a commission, "depending on the needs of our restaurant brands and the nature of their business."Growth Kitchen cofounders Tom Gatz and Máté Kun.Courtesy of Ted LowneyAs well as the Balham site I visited, Growth Kitchen has another in Bermondsey, with 10 outlets in each. Growth Kitchen plans to open 40 new sites over the next two years, including some outside London, and in April announced £3 million ($3.75 million) in seed funding.The layout of Growth Kitchen's site in Balham, London.Grace Dean/InsiderRead the original article on Business Insider.....»»

Source:  businessinsiderCategory: top~1 hr. 7 min. ago Related News

"The Northman" star Alexander Skarsgård seeks $2.6 million for Manhattan penthouse

In Manhattan's East Village, actor Alexander Skarsgård is asking $2.6 million for a prewar penthouse built in 1845.In Manhattan's East Village, actor Alexander Skarsgård is asking $2.6 million for a prewar penthouse built in 1845......»»

Source:  latimesCategory: top~1 hr. 22 min. ago Related News

Biden"s Treasury Department renews Chevron"s oil license to operate in Venezuela

Venezuelan oil could soon enter U.S. markets as the U.S. Treasury Department has renewed a license with Chevron to operate in the South American country......»»

Source:  foxnewsCategory: top~2 hr. 21 min. ago Related News

Mass Shootings: The Vicious Cycle Fueled By America"s Toxic Cult Of Violence

Mass Shootings: The Vicious Cycle Fueled By America's Toxic Cult Of Violence Authored by John W. Whitehead & Nisha Whitehead via The Rutherford Institute, “Mass shootings have become routine in the United States and speak to a society that relies on violence to feed the coffers of the merchants of death. Given the profits made by arms manufacturers, the defense industry, gun dealers and the lobbyists who represent them in Congress, it comes as no surprise that the culture of violence cannot be abstracted from either the culture of business or the corruption of politics.” - Professor Henry A. Giroux We are caught in a vicious cycle. With alarming regularity, the nation is being subjected to a heartbreaking spate of violence that terrorizes the populace, fractures communities, and gives the government greater justifications to crack down, lock down, and institute even more authoritarian policies for the so-called sake of national security without many objections from the citizenry. Mass shootings have taken place in schools, on college campuses, movie theaters, nightclubs, grocery stores, concert venues, bars, workplaces, churches, on military bases, and in government offices. In almost every instance, the shooters were dressed in military-style gear and armed with military-style weapons. Take the latest shooting that took place in Uvalde, Texas, when 18-year-old Salvador Ramos, wearing body armor and carrying a rifle, walked into Robb Elementary School and opened fire, leaving at least 19 children and two teachers dead. This Uvalde shooting took place ten days after another 18-year-old man, heavily armed and wearing tactical gear (including a tactical helmet and plated armor), opened fire in a grocery store in Buffalo, N.Y, killing 10 people. In 2018, a 19-year-old former student armed with a gas mask, smoke grenades, magazines of ammunition, and an AR-15-style semiautomatic rifle opened fire on students and teachers at Marjory Stoneman Douglas High School in Parkland, Fla., leaving 17 people dead. Ten years ago, 20-year-old Adam Lanza—wearing body armor and black clothing, and armed with military-style weapons—opened fire on students and teachers at Sandy Hook Elementary School in Newtown, Conn., leaving 26 dead. Prior to the shooting, Lanza reportedly spent his days “playing violent video games amid posters showcasing military equipment.” According to an FBI report issued the day before the Uvalde shooting, these kinds of “active shooter attacks” have doubled in recent years. As expected in the wake of such tragedies, there has been a vocal outcry for enacting more strident gun control measures, more mental health checks, and heightened security measures. Yet surely there’s more to these shootings than just easy access to weapons and mental illness. Ask yourself: Why do these mass shootings keep happening? Who are these shooters modelling themselves after? Where are they finding the inspiration for their weaponry and tactics? Whose stance and techniques are they mirroring? When you start to connect the dots, they lead right back to the American police state and the war-drenched, violence-imbued, profit-driven military industrial complex, both of which continue to dominate, dictate and shape almost every aspect of our lives. The United States is the number one consumer, exporter and perpetrator of violence and violent weapons in the world. Violence has become America’s calling card. We are a military culture engaged in continuous warfare. We have been a nation at war for most of our existence. We are a nation that makes a living from killing through defense contracts, weapons manufacturing and endless wars. We are being fed a steady diet of violence through our entertainment, news, sports and politics. All of the military equipment featured in blockbuster movies is provided—at taxpayer expense—in exchange for carefully placed promotional spots aimed at boosting civic pride in the military, recruiting for the military, and churning out profit-driven propaganda for the military industrial complex. Even reality TV shows have gotten in on the gig. It’s estimated that U.S. military intelligence agencies (including the NSA) have influenced over 1,800 movies and TV shows. Then there are the growing number of violent video games, a number of which are engineered by or created for the military as recruitment tools, which have accustomed players to interactive war play through military simulations and first-person shooter scenarios. As Esther J. Cepeda writes for The Washington Post, “Violent video games alone do not cause people to go off the rails, arm themselves and open fire on innocent people in public places. But there's also no question that there is something wrong with a multibillion-dollar video game industry that sells to young men the ability to virtually assassinate a foe as an escape from real life.” The media, eager to score higher ratings, has been equally complicit in making (real) war more palatable to the public by packaging it as TV friendly. The military has also been firmly entrenched in the nation’s sports spectacles, having co-opted football, basketball, even NASCAR, “tying the symbols of sports with the symbols of war.” This is how you acclimate a population to war. This is how you cultivate loyalty to a war machine. This is how, to borrow from the subtitle to the 1964 film Dr. Strangelove, you teach a nation to “stop worrying and love the bomb.” This is how you sustain the nation’s appetite for war. As journalist David Sirota writes for Salon, to those who profit from war, it is “a ‘product’ to be sold via pop culture products that sanitize war and, in the process, boost recruitment numbers.” No wonder entertainment violence is the hottest selling ticket at the box office. As professor Henry Giroux points out, “Popular culture not only trades in violence as entertainment, but also it delivers violence to a society addicted to a pleasure principle steeped in graphic and extreme images of human suffering, mayhem and torture.” No wonder the government continues to whet the nation’s appetite for violence and war through paid propaganda programs (seeded throughout sports entertainment, Hollywood blockbusters and video games)—what professor Roger Stahl refers to as “militainment“—that glorify the military and serve as recruiting tools for America’s expanding military empire. No wonder Americans from a very young age are being groomed to enlist as foot soldiers—even virtual ones—in America’s Army (coincidentally, that’s also the name of a first-person shooter video game that was produced by the military and used as a pivotal recruiting tool for 20 years). Explorer scouts, for example, have been one of the most popular recruiting tools for the military and its civilian counterparts (law enforcement, Border Patrol, and the FBI). Writing for The Atlantic, a former Explorer scout described the highlight of the program: monthly weekend maneuvers with the National Guard where scouts “got to fire live rounds from M16s, M60 machine guns, and M203 grenade launchers… we would have urban firefights (shooting blanks, of course) in Combat Town, a warren of concrete buildings designed for just that purpose. The exercise always devolved into a free-for-all, with all of us weekend warriors emptying clip after clip of blanks until we couldn’t see past the end of our rifles for all the smoke in the air.” No wonder America spends more money on war than the combined military budgets of China, Russia, the United Kingdom, Japan, France, Saudi Arabia, India, Germany, Italy and Brazil. America polices the globe, with 800 military bases and troops stationed in 160 countries. Moreover, the war hawks have turned the American homeland into a quasi-battlefield with military gear, weapons and tactics. In turn, domestic police forces have become roving extensions of the military—a standing army. You want to stop the gun violence? Stop the worship of violence that permeates our culture. Stop treating guns and war as entertainment fodder in movies, music, video games, toys, amusement parks, reality TV, sports and more. Stop distributing weapons of war (weapons that have no business being anywhere but on a battlefield) to the local police and transforming police into extensions of the military. Stop exposing young people to the military industrial complex’s pervasive propaganda. Stop falling for the military industrial complex’s psychological war games. Salvador Ramos may have pulled the trigger that resulted in the mayhem in Uvalde, Tex., but something else is driving the madness. We’ve got to do more than react in a knee-jerk fashion. Those who want safety at all costs will clamor for more gun control measures, widespread mental health screening of the general population and greater scrutiny of military veterans, more threat assessments and behavioral sensing warnings, more CCTV cameras with facial recognition capabilities, more “See Something, Say Something” programs aimed at turning Americans into snitches and spies, more metal detectors and whole-body imaging devices at soft targets, more roaming squads of militarized police empowered to do random bag searches, more fusion centers to centralize and disseminate information to law enforcement agencies, and more surveillance of what Americans say and do, where they go, what they buy and how they spend their time. Yet as I point out in my book Battlefield America: The War on the American People and in its fictional counterpart The Erik Blair Diaries, all of these measures play into the government’s hands by locking down the nation without doing anything to address the underlying causes of this madness. What we need is a thoughtful, measured, apolitical response to these shootings that takes aim at the violence plaguing our nation by lowering the levels of violence here and abroad, whether it’s violence we export to other countries, violence we glorify in entertainment, or violence we revel in when it’s leveled at our so-called enemies, politically or otherwise. Our prolonged exposure to the toxic culture of the American police state is deadly. Tyler Durden Fri, 05/27/2022 - 23:40.....»»

Source:  zerohedgeCategory: blog~2 hr. 34 min. ago Related News

The Uvalde gunman"s co-workers nicknamed him "school shooter" before the attack that killed 21 people

A co-worker from the Wendy's where the Uvalde gunman was employed told The New York Times they nicknamed the 18-year-old "school shooter" prior to the deadly attack. Crime scene tape surrounds Robb Elementary School in Uvalde, Texas, Wednesday, May 25, 2022.AP Photo/Jae C. Hong A co-worker of the gunman told The New York Times he was nicknamed "school shooter" prior to the attack. Multiple people who knew the 18-year-old shooter described him as "aggressive" and "intimidating." He would go on to kill 21 people during a shooting at Robb Elementary School in Uvalde, Texas. A former co-worker of the Uvalde gunman who attacked Robb Elementary School told The New York Times they and other workers at the local Wendy's had nicknamed him "school shooter" prior to the incident that killed 21 people. The New York Times reported the gunman's co-worker said he would frequently snap at colleagues and customers. His long hair and dark clothing, combined with his hostile behavior, led them to call him names.He would go on to open fire on an elementary school classroom, killing 19 students and two teachers. Multiple people told The New York Times the gunman was "aggressive" and "intimidating," including former classmates and people the 18-year-old had spoken to online. He frequently discussed and threatened violence, posting pictures of guns online and sending harassing messages to girls on Instagram. "He'd reply to my stories with things like 'i wanna kill u' or like 'i hate you,'" Kendra Charmaine, a 17-year-old in California who interacted with the shooter online, told The New York Times.Read the original article on Business Insider.....»»

Source:  businessinsiderCategory: top~2 hr. 51 min. ago Related News

Made In America: Goods Exports By State

Made In America: Goods Exports By State After China, the U.S. is the next largest exporter of goods in the world, shipping out $1.8 trillion worth of goods in 2021 - an increase of 23% over the previous year. Of course, as Visual Capitalist's Raul Amoros and Jennifer West detail below, that massive number doesn’t tell the whole story. The U.S. economy is multifaceted, with varying levels of trade activity taking place all across the nation. Using the latest data on international trade from the U.S. Census Bureau and the U.S. Bureau of Economic Analysis, we’ve visualized the value of America’s goods exports by state. Top 10 Exporter States Here are the top 10 American states that exported the highest dollar value worth of goods during 2021. Combined, these export-leading states represent 59.4% of the nation’s total exports. Texas has been the top exporting state in the U.S. for an incredible 20 years in a row. Last year, Texas exported $375 billion worth of goods, which is more than California ($175 billion), New York ($85 billion), and Louisiana ($77 billion) combined. The state’s largest manufacturing export category is petroleum and coal products, but it’s also important to mention that Texas led the nation in tech exports for the ninth straight year. California was the second highest exporter of goods in 2021 with a total value of $175 billion, an increase of 12% from the previous year. The state’s main export by value was computer and electronic product manufacturing, representing 17.8% of the total U.S. exports of that industry. California was also second among all states in exports of machinery manufacturing, accounting for 13.9% of the U.S. total. What Type of Goods are Exported? Here is a breakdown of the biggest U.S. export categories by value in 2021. These top 10 export categories alone represent almost 70% of America’s total exports. The biggest grower among this list is mineral fuels, up by 59% from last year. Pharmaceuticals saw the second biggest one-year increase (45%). Top 10 U.S. Exports by Country of Destination So who is buying “Made in America” products? Unsurprisingly, neighboring countries Canada (17.5%) and Mexico (15.8%) are the two biggest buyers of American goods. Together, they purchase one-third of American exports. Three Asian countries round out the top five list: China (8.6%), Japan (4.3%), and South Korea (3.7%). Together, the top five countries account for around half of all goods exports. Tyler Durden Fri, 05/27/2022 - 20:40.....»»

Source:  zerohedgeCategory: blog~3 hr. 50 min. ago Related News

Watch: Biden Education Secretary Says Biological Males Should Be Allowed To Compete In Girls" Sport

Watch: Biden Education Secretary Says Biological Males Should Be Allowed To Compete In Girls" Sport.....»»

Source:  zerohedgeCategory: blog~3 hr. 50 min. ago Related News

TSMC And Intel Are In A Mad Dash To Hire Semiconductor Technicians For Their New Plants In Arizona

TSMC And Intel Are In A Mad Dash To Hire Semiconductor Technicians For Their New Plants In Arizona To solve the semiconductor shortage, companies now have to deal with a labor shortage... We have extensively covered how major semiconductor companies have been responding to the global chip shortage over the last couple of years. One of the most notable companies to take action has been TSMC, who is in the process of building a $12 billion chip fab in Arizona, not far from where Intel is expanding their campus.  TSMC's project is racing to come online by 2024, but there remains a major obstacle for both companies: securing labor. "Simply finding enough workers to build the facilities has already proved a challenge," according to a new report from Nikkei.  Over 6,000 workers are currently on site trying to get the facility up and running by its targeted 2024 timeline, the report says. While it was tough to find construction workers, finding the skilled technicians necessary to work at a chip plant is proving even tougher.  Kweilin Waller, deputy human services director at the Phoenix Business and Workforce Development Board, commented: "You say 'semiconductor manufacturing' [to potential recruits], people look at you like you have two heads. It's just unfamiliar." "I think those students that we are trying to recruit to ultimately become employees don't know what they don't know. So even before we give consideration to the seven semiconductor manufacturers that they could work with, they need to understand, 'What is a semiconductor technician?'" added Daniel Barajas, a careers director at the Maricopa County Community Colleges District. Intel is trying to tackle the problem by creating a close relationship with The Schools of Engineering at ASU, which have about 27,000 students enrolled.  TSMC doesn't have the history that Intel does with the university to attract such talent as easily. Kyle Squires, the school's dean, said: "Indeed, it's more of a challenge [for TSMC to attract students]. The informal networking [among students] starts to really grab on." One associate professor at ASU said: "TSMC recruiters have been very heavily present on campus. TSMC is presently negotiating with the university for some extended collaborations, both in research and in workforce development, and broader training programs." TSMC only had plans of hiring in the U.S. before sending employees to train in Taiwan, but now the company is considering hiring directly from Taiwan, the Nikkei report says. "TSMC is focused on hiring employees, including technicians, locally in the U.S. for our Arizona fab," a spokesperson said.  Jennifer Mellor, chief innovation officer at the Greater Phoenix Chamber, concluded: "I think TSMC is really trying to get their name known in the market, and they're actually doing a really good job of trying to connect with different education partners." Tyler Durden Fri, 05/27/2022 - 21:20.....»»

Source:  zerohedgeCategory: blog~3 hr. 50 min. ago Related News

Baby Formula Shortage Could Persist Until July: FDA Commissioner

Baby Formula Shortage Could Persist Until July: FDA Commissioner By Mimi Nguyen Lu of The Epoch Times Food and Drug Administration Commissioner Robert Califf said the severe nationwide shortage of baby formula is expected to be eased within two months. Testifying before a Senate hearing, Califf said that while he cannot give exact dates, his expectation is “that within two months we should be beyond normal and with a plethora” of formula supply. “It’s going to be gradual improvement up to probably somewhere around two months until the shelves are replete again,” he told lawmakers at the Senate Health, Education, Labor, and Pensions Committee hearing on the baby formula shortage on Thursday. “Due to all the measures being taken, the shortage is going to be getting better and better.” Empty shelves show a shortage of baby formula at CVS in San Antonio, Texas, on May 10, 2022 Califf said that FDA inspectors found unsanitary conditions at the Sturgis facility, including evidence of previous bacterial contamination, roof leaks, and a lack of adequate hygiene. Before it can reopen, the facility has to implement a series of steps to ensure safe production to comply with U.S. food safety standards, he said. Supply chain pressures and a shortage of workers amid the COVID-19 pandemic have been responsible for an ongoing baby formula shortage in the nation, but the supply became even more scarce after Abbott Nutrition in February recalled multiple baby formula products, including some Similac products, after four infants fell sick, two of whom died. Abbott, which has the largest U.S. market share for infant formula, also temporarily shuttered its formula manufacturing plant in Sturgis, Michigan—where the recalled products were produced—over safety concerns, after an FDA investigation found unsanitary conditions there. The plant is one of three run by Abbott. An investigation into suspected bacterial contamination at the facility failed to confirm a link to the recalled products, with the FDA saying the bacterial strains the infants fell sick to did not match the strains at the plant. Abbott said the plant is due to resume production on June 4, but previously noted it would take six to eight weeks for the products to arrive in stores. The company said it would prioritize supplying its specialty formula EleCare on or about June 20. The formula would be provided to children in need for free. Robert Califf, Commissioner of the Food and Drug Administration, testifies during a House Subcommittee on Oversight and Investigations hearing about the baby formula shortage, in Washington, on May 25, 2022 On Wednesday, Califf had told House lawmakers that Abbott did not have a contingency plan to produce its specialty formulas that serve as the only source of nutrition for thousands of babies with metabolic disorders. He added that the best option was to enter into a consent decree agreement with Abbott, “where we literally have oversight of every single step” of remediation of problems at the facility to get it back to production as soon as possible. The FDA eased import restrictions this month by doing away with various labeling requirements. These rules had contributed to about 98 percent of the pre-crisis baby formula supply being produced domestically by just three companies. The Biden administration sees the easing of restrictions as a temporary measure before the normal supply chain stabilizes. Separately, the U.S. Department of Defense is airlifting about 1.5 million 8-ounce bottles of baby formula from Europe, as part of the White House’s recently launched initiative “Operation Fly Formula.” The first lots of formula arrived in Indianapolis, Indiana, from Germany on Sunday. The Biden administration also invoked the Defense Production Act to help manufacturers obtain ingredients to produce more baby formula. Tyler Durden Fri, 05/27/2022 - 21:40.....»»

Source:  zerohedgeCategory: blog~3 hr. 50 min. ago Related News

50% Of Millennials Think They Only Need $300,000 To Retire

50% Of Millennials Think They Only Need $300,000 To Retire This has got to be one of the all time best forthcoming wakeup calls we've ever seen. A new survey published by Acorns last week revealed that half of millennials think they'll need just $300,000 to "retire comfortably". As the piece notes, this is obviously a fraction of what they will actually need to retire in comfort. Gen X and Gen Z had slightly higher estimates, guessing that they would need $500,000 to retire, while boomers have a clearer picture and understand they would need closer to $750,000 to retire. Catherine Collinson, CEO and president of the Transamerica Institute, who conducted the study, commented: “The estimated retirement savings for all workers are on the low side. I’m concerned that they’re not thinking big enough in terms of how much somebody should save.” Instead, as the article notes, people should be targeting about 75% of their pre-retirement income. That would mean that the average millennial earning $68,703 would need to save $1.8 million to retire comfortably by age 67.  More than 40% of respondents to the survey said they arrived at their estimates "simply by guessing".  “It’s surprising that people are not taking as much advantage as they can and should of the tools that are available,” Collinson said.  Their $750,000 estimate “is much more than they’ve actually saved in all their retirement accounts,” she said about boomers, who have an average retirement account balance of just $200,000.  Tyler Durden Fri, 05/27/2022 - 22:00.....»»

Source:  zerohedgeCategory: blog~3 hr. 50 min. ago Related News

Will The Midterms Be Biden"s Last Hurrah?

Will The Midterms Be Biden's Last Hurrah? Authored by Pat Buchanan, For half a decade now, America’s media elite have been obsessed with former President Donald Trump and the Republican Party’s conversion to Trumpism. Press and TV are daily consumed with his actions and prospects and the future of the party he captured in 2016. Perhaps it is time to consider the prospects of President Joe Biden and the political future of his embattled presidency. What are the odds that Biden, like Bill Clinton and Barack Obama before him, will run again in 2024, win reelection, serve out a second term and transfer his office to the 47th president on Jan. 20, 2029? My guess: The odds of that happening are roughly the same as the odds that last-minute entry Rich Strike would win the Kentucky Derby, as he left the starting gate at Churchill Downs at 80-1. Consider the first hurdle Biden faces on the way to renomination in 2024 — the midterm elections five months off. Since the Dow Jones Industrial Average and S&P 500 reached record highs in January, both have seen eight weeks of wipeouts of trillions of dollars in value as we approached bear-market territory by the end of last week. Stock portfolios, pensions and retirement benefit plans have been gutted. These massive market losses are also a lead indicator pointing to a recession right ahead, just as voters pass judgment on a Democratic Party that controls the White House and both houses of Congress. But even before we reach recession, Americans have already been living with a Biden inflation of 8% that has lasted for months and affected all the necessities of normal life, such as groceries and gasoline. And the worst seems yet to come. The Federal Reserve has reversed course from its easy money days and begun to raise interest rates to squeeze the Biden inflation out of the economy. What lies ahead may remind people who were around then of Jimmy Carter’s “stagflation,” where interest rates hit 21% to kill an inflation that reached 13%. As for the crisis on the southern border, it is deeper than ever. Some 234,000 migrants were caught illegally entering the U.S. in April alone, with thousands of others evading any contact with U.S. authorities. This is an invasion rate of some 3 million illegal migrants a year. Shootings, killings, carjackings, criminal assaults, and smash-and-grab robberies in record numbers are the subject of our nightly news. And the latest national polls suggest the country is holding Biden responsible. The president’s approval rating is down to 39%, and only 1 in 3 Americans think he is doing a good job handling the economy and that the nation is headed in the right direction. Now the omicron variant of COVID-19 is making a comeback; infections are again over 100,000 a day. Biden might find consolation from how his predecessors overcame midterm defeats. Clinton in 1994 lost 54 House seats and won reelection easily in 1996. Obama lost 63 House seats in 2010 to come back and win handily over Mitt Romney in 2012. Why cannot Biden ride out the anticipated storm in this year’s midterms and come back to win election in 2024, as did Clinton and Obama? Age has something to do with it. Clinton was 50 in his reelection year 1996. Obama was 51 in his reelection year 2012. And both were at the peak of their political powers. Biden, on election day 2024, will be two weeks shy of his 82nd birthday. Should he serve out a second term, he would not leave the White House until he had turned 86. Biden has been America’s oldest president since the day he took office. Alexander Hamilton in the Federalist Papers wrote of “energy in the executive” as being an indispensable attribute of good government. Does Biden, with his shuffling gait, regular gaffes, and physical and cognitive decline manifest that attribute of which Hamilton wrote? The likely scenario for Biden? His party sustains a crushing defeat in November comparable to what Clinton and Obama suffered. But the party does not immediately rally around Biden as present and future leader, as it did with Clinton and Obama. Critics inside the Democratic coalition begin to blame Biden for the loss. Ambitious Democrats, sensing disaster if Biden tops the ticket in 2024, begin to call for him to stand down and give way to a younger candidate, a new face, in 2024. One or two progressives declare for president, and the pressure builds on Biden to avoid a personal and political humiliation in the 2024 primaries by standing down, as Harry Truman did in 1952 and Lyndon Johnson did in 1968. By early 2023, Biden will have adopted the line that dealing with the challenge of China and Russia and, at the same time, coping with recession and inflation require his full attention. And these preclude a national political campaign for reelection. And then President Joe Biden announces he will not run again. Tyler Durden Fri, 05/27/2022 - 22:20.....»»

Source:  zerohedgeCategory: blog~3 hr. 50 min. ago Related News

USAF"s New Stealth Bomber "Strides Toward Flight Readiness" After Successful Load Test

USAF"s New Stealth Bomber "Strides Toward Flight Readiness" After Successful Load Test.....»»

Source:  zerohedgeCategory: blog~3 hr. 50 min. ago Related News

Sussmann Trial Exposes Dems" Scandal-Industrial Process

Sussmann Trial Exposes Dems' Scandal-Industrial Process Commentary by Charles Lipson via RealClear Politics (emphasis ours), Modern political scandals, like Caesar’s Gaul, are divided into three parts. The first is the actual malfeasance. That might be taking bribes, lying to federal agents, leaking classified materials, sexual misconduct, selling political access, whatever. The second part is the hyper-partisan involvement of Congress and, often, federal agencies, all eager to score points for their side. The third part is the media’s role, which goes beyond bias to include active promotion of political goals. Federal agencies, like all bureaucratic institutions, have always tried to increase their power and preserve their autonomy. What’s different today is that the bureaucrats, and often their entire agencies, are frequently partisan players. That’s disheartening but understandable. One party is clearly the “party of government” and the party of experts. Most educated professionals, including bureaucrats and journalists, identify with that party. Filled with partisan “civil servants,” these agencies routinely tilt investigations (or kill them outright) to advance political goals – the same ones as their favored party. For the same reasons, they leak insider information to friendly media. Predictably, the opposing party tries to score points by attacking them for doing so. That brings us to the third element of these scandals: the “friendly media.” Mainstream outlets are not just biased. They often become outright partisans when a potential scandal could hurt conservatives or populists. That bias degrades what was once called “hard news.” Today, neutral reporting is as antiquated as rotary phones, conservative Democrats, and liberal Republicans. The media’s bias, both left and right, is amplified by the fragmentation of the digital landscape. That fragmentation encourages each outlet to appeal to its self-selected audience and avoid alienating them with uncomfortable information. The trial of Hillary Clinton lawyer Michael Sussmann illustrates how modern scandals have devolved into this dismal three-ring circus. Last Thursday, the FBI’s former general counsel, James Baker, testified at length that his old friend Sussmann had requested an urgent private meeting and provided the bureau damning, confidential information. Sussmann claimed he did so solely “as a good citizen,” not on behalf of any client. Sussmann made the same claim in a text message to Baker the night before. Baker testified that he was “100% confident” Sussmann had repeated his disclaimer at the beginning of their meeting. (Before Special Counsel John Durham’s team concluded their case on Wednesday, they showed the jury that Sussmann had actually billed the Clinton campaign for that meeting.) Baker’s testimony was especially powerful because he was clearly reluctant to provide it. The papers and thumb drives Sussmann gave Baker were designed to show that Donald Trump was secretly communicating with a Kremlin-connected European bank. The implication was that this back-channel communication was part of Vladimir Putin’s effort to elect Trump, a line the Clinton campaign eagerly promoted. Baker testified he was alarmed by the prospect, which is why he immediately briefed his bosses, including FBI Director James Comey. Baker gave the materials Sussmann had provided to the bureau’s cyber experts, who quickly discovered it was rubbish. Their conclusion: Trump was not secretly communicating with Russia’s Alfa Bank. Baker’s testimony was followed, on Friday, by that of Clinton campaign manager Robby Mook. Mook casually (perhaps inadvertently) dropped a bombshell. Hillary Clinton, he said, had personally approved sharing the Trump-Alfa Bank story with the press. Mook said the campaign wasn’t sure if the story was true but figured the press would look into it. Hillary agreed and approved spreading the false story. But Mook cannot be right when he says “the campaign” didn’t know if the Alfa Bank story was true. Mook may not have known, but others in the campaign surely did since they were the ones who created the false story. They expended campaign funds to generate that dishonest “inference and narrative” about Trump and Alfa Bank from internet data, knowing it would fool only naïve FBI agents and reporters. Real cyber experts could – and did – disprove the “inference” almost immediately. The Alfa Bank tale wasn’t the Clinton campaign’s only dirty trick. They also commissioned the now-disproven Steele dossier and aggressively shopped it to the FBI, Department of Justice, State Department, and, of course, the press. Both the Alfa Bank story and the Steele dossier had the same goals: Smear Donald Trump, generate media reports that the “FBI is investigating,” and distract the media from Hillary’s own problems with her private email server and the classified documents it contained. The obvious goal before November 2016 was to prevent Trump’s election. That’s why Sussmann wanted the late October meeting with Baker so urgently. After Trump was elected, the new goal was to hamstring his presidency by tying him up in investigations. That is presumably why Sussmann later met with the CIA and gave them the same Alfa bank story, plus another fable about secret Russian mobile phones that were always near Trump. Again, pure garbage, based on cherry-picked data and quickly shown to be worthless. The Sussmann trial indicates how the media and federal agencies play into the Democrats’ scandal-industrial process. Take Mook’s testimony last Friday. It was a huge story because, for the first time, a Clinton insider directly tied Hillary to the smear campaign. That campaign was the biggest political dirty trick in modern American politics, one the media had actively promoted. Yet, when the bombshell exploded, the mainstream media went silent, both about the news and about their own culpability. On Friday, when the news broke, ABC, CBS, NBC, CNN, and MSNBC did not mention the Mook bombshell or even the Sussmann trial. Not a peep. Saturday’s New York Times was equally silent. The Washington Post did cover the story but buried the lede – Hillary Clinton’s direct involvement – well down in their report. A Post national correspondent actually ran an “analysis” piece entitled “Again: There’s No Evidence Hillary Clinton Triggered the Russian Probe.” Robert Mueller’s prolonged investigation as Special Counsel missed this whole massive scandal. When Mueller testified before Congress, he was asked about Fusion GPS, a central player in Clinton’s smear campaign, and the Special Counsel said he’d never even heard of the firm. What about the FBI? How did it treat Sussmann’s information about Trump and Alfa Bank? General Counsel Baker testified that he immediately informed the bureau’s top officials, noting Sussmann’s assurance that he had no client. Although the Alfa Bank story was quickly disproven, that didn’t stop the bureau’s relentless investigation of Trump’s ties to Russia. Two days after Sussmann gave the FBI his (false) information, the head of the bureau’s counter-intelligence division texted a colleague, “People of the 7th floor to include Director are fired up about this server.” They were so fired up they refused to let agents know Sussmann’s name, referred to him (dishonestly) as the “Department of Justice,” and refused to let agents interview the authors of the cyber data given to Baker. The FBI handled the Steele dossier the same way they handled Sussmann’s material – a mixture of incompetence and malign intent, trampling over administrative safeguards and legal rules in an effort to ensnare Donald Trump. Even though the FBI couldn’t verify the dossier’s salacious allegations, it used them to impale the president-elect. Comey briefed Trump on the worst allegations and then secretly told the press that the FBI was investigating them. Over the next month, the bureau conducted lengthy interviews with Steele’s principle source (Igor Danchenko, now indicted himself) and learned the dossier’s allegations were based on bar talk and rumors, as told by a Brookings Institution researcher, not Kremlin insiders. That didn’t stop – or even slow – the government’s pursuit of Trump, and its use of this discredited material. The falsity of the Alfa Bank connection and Steele dossier – and the FBI’s knowledge of their falsity – did not stop the bureau from spying on Trump associates for purported “Russian connections.” That surveillance didn’t stop even after field agents said their investigation turned up no evidence and should be closed. Instead, Comey and his deputy, Andrew McCabe, personally kept the investigation open. Since the spying required FISA warrants (from the court overseeing the Foreign Intelligence Surveillance Act), the FBI omitted or doctored exculpatory information to renew their authorization. Yet another subversion of justice. The full scope of this multi-pronged scandal is finally emerging after five years of administrative misconduct, media coverups, partisan reporting, and pervasive deceit by Washington insiders. What is still submerged is any accountability. The media is still burying the story and its own role in promoting those lies. Nobody has returned their dubious Pulitzer Prizes. Senior officials in Comey’s FBI have never been held to account. Congressmen, led by California Democrat Adam Schiff, who continued the smear and leaked their closed-door inquiries to the press, still appear on the Sunday talk shows. Hillary Clinton, who sat atop the conspiracy, was given a quick “all clear” by the FBI on her server and has not been targeted for federal investigation in the subsequent scandals. That Mook’s testimony surprised Durham’s prosecutors indicates they never bothered to probe Hillary’s involvement before the grand jury. The Sussmann trial, like all modern political scandals, is part of a three-ring circus, showcasing sleazy political enablers, malfeasance by public officials, and biased reporting. In this circus of deceit, the public has to walk behind the elephants with a huge shovel. Tyler Durden Fri, 05/27/2022 - 23:00.....»»

Source:  zerohedgeCategory: blog~3 hr. 50 min. ago Related News

These Are The 10 Largest Gold-Mines In The World

These Are The 10 Largest Gold-Mines In The World Gold mining is a global business, with hundreds of mining companies digging for the precious metal in dozens of countries. But where exactly are the largest gold mines in the world? As Visual Capitalist's Niccolo Conte shows in the infographic below, using data compiled from S&P Global Market Intelligence and company reports, the top 10 gold-producing mines in 2021 were very geographically diverse. Editor’s Note: The article uses publicly available global production data from the World Gold Council to calculate the production share of each mine. The percentages slightly differ from those calculated by S&P. The Top Gold Mines in 2021 The 10 largest gold mines are located across nine different countries in North America, Oceania, Africa, and Asia. Together, they accounted for around 13 million ounces or 12% of global gold production in 2021. In 2019, the world’s two largest gold miners—Barrick Gold and Newmont Corporation—announced a historic joint venture combining their operations in Nevada. The resulting joint corporation, Nevada Gold Mines, is now the world’s largest gold mining complex with six mines churning out over 3.3 million ounces annually. Uzbekistan’s state-owned Muruntau mine, one of the world’s deepest open-pit operations, produced just under 3 million ounces, making it the second-largest gold mine. Muruntau represents over 80% of Uzbekistan’s overall gold production. Only two other mines—Grasberg and Olimpiada—produced more than 1 million ounces of gold in 2021. Grasberg is not only the third-largest gold mine but also one of the largest copper mines in the world. Olimpiada, owned by Russian gold mining giant Polyus, holds around 26 million ounces of gold reserves. Polyus was also recently crowned the biggest miner in terms of gold reserves globally, holding over 104 million ounces of proven and probable gold between all deposits. How Profitable is Gold Mining? The price of gold is up by around 50% since 2016, and it’s hovering near the all-time high of $2,000/oz. That’s good news for gold miners, who achieved record-high profit margins in 2020. For every ounce of gold produced in 2020, gold miners pocketed $828 on average, significantly higher than the previous high of $666/oz set in 2011. With inflation rates hitting decade-highs in several countries, gold mining could be a sector to watch, especially given gold’s status as a traditional inflation hedge.   Tyler Durden Fri, 05/27/2022 - 23:20.....»»

Source:  zerohedgeCategory: blog~3 hr. 50 min. ago Related News

The Margin: Monkeypox symptoms and how to tell if you have it: what you need to know

Your guide to understanding where monkeypox came from, how it spreads, who can get vaccinated and how big a threat it is......»»

Source:  marketwatchCategory: top~3 hr. 51 min. ago Related News

Market Extra: Some Sturm Ruger shareholders are seeking a ‘human rights impact assessment’ of the gun maker. Does your ETF hold the stock?

Sturm, Ruger & Co., a gun maker whose institutional shareholders include BlackRock and Vanguard Group, will host its annual meeting next week at which it faces a shareholder proposal to require a “human rights impact assessment.”.....»»

Source:  marketwatchCategory: top~3 hr. 51 min. ago Related News
Source:  marketwatchCategory: top~3 hr. 51 min. ago Related News

Market Extra: Why the Dow finally bounced — and what it will take to convince investors it’s for real

The stock market pulled back from the brink of a bear market as rate-hike expectations eased, at least for now. Here's what it will take to signal a bottom......»»

Source:  marketwatchCategory: top~3 hr. 51 min. ago Related News

Trump"s media company is planning a streaming service featuring "non-woke" content such as "shows that embrace the Second Amendment"

The streaming service hopes to be a "non woke alternative" for conservatives and libertarians. Former President Donald TrumpAP Photo/Pablo Martinez Monsivais TMTG, the company behind Truth Social, is planning a streaming service to appeal to conservatives. Programming will include "shows that embrace the Second Amendment" and "Trump-specific shows." It will be "similar" to Netflix but will not "push some particular political ideology," an SEC filing says. Trump Media & Technology Group, the company behind former President Donald Trump's social media app Truth Social, recently laid out their plans for a new 'non-woke' streaming service called TMTG+. The subscription-based streaming service is set to be a "non-woke alternative to the programs offered by streaming services" like Netflix and Disney+. However, it will not " insist that programming push some particular political ideology," according to an SEC filing from Digital World Acquisition Corp, a SPAC or "blank check" firm, set to merge with TMTG.The streaming service will offer shows "that embrace the Second Amendment," "Trump-specific shows," and other topics that appeal to "conservative and/or libertarian views."It will also offer podcasts."TMTG+ intends to offer programs including, but not limited to blue-collar comedy, cancelled shows, Trump-specific programming, faith-based shows, family entertainment, shows that embrace the Second Amendment, and news."DWAC says TMTG+ will emphasize shows that "cancel 'cancel culture.'""Particularly, President Trump has stated that TMTG will stand up to 'cancel culture' and the 'self-righteous scolds.' Failure to realize this vision would adversely affect TMTG's brand and business prospects," the filing from DWAC said.TMTG began posting job ads for producers on May 11 for its streaming service, Rolling Stone previously reported. TMTG's previous venture, Truth Social, has been scrutinized for multiple issues, ranging from outages to technical problems, and reports of censorship.It has also been noted by DWAC multiple times that TMTG "may never achieve profitability." DWAC warned investors in a previous regulatory filing that Trump's history of failed business ventures meant that "There can be no assurances that TMTG will not also become bankrupt."Representatives for TMTG did not immediately respond to Insider's request for comment.Read the original article on Business Insider.....»»

Source:  businessinsiderCategory: top~4 hr. 7 min. ago Related News

Uvalde gunman"s mother begs people not to judge him for killing 21 people: "Forgive me, forgive my son"

Adriana Martinez, the mother of the gunman, spoke out about the shooting in an interview with CNN affiliate Televisa on Friday. UVALDE, TX - MAY 25: A Texas State Trooper receives flowers for the victims of a mass shooting yesterday at Robb Elementary School where 21 people were killed, including 19 children, on May 25, 2022 in Uvalde, Texas. The shooter, identified as 18-year-old Salvador Ramos, was reportedly killed by law enforcement.Jordan Vonderhaar/Getty Images The mother of the Robb Elementary School gunman begged for forgiveness in an interview on Friday. Speaking with CNN affiliate Televisa, Adriana Martinez said her son "had his reasons" for killing 21 people.  "Please don't judge him. I only want the innocent children who died to forgive me," Martinez said. Adriana Martinez, the mother of the gunman who killed 21 people during a shooting at Robb Elementary School on Tuesday, begged for forgiveness for herself and her son in a Friday interview with CNN affiliate Televisa."I have no words. I have no words to say. I don't know what he was thinking," Martinez, speaking from inside her car, told an interviewer with Televisa. Her comments, originally in Spanish, were translated by CNN: "He had his reasons for doing what he did. And please don't judge him. I only want the innocent children who died to forgive me." The 18-year-old gunman shot his grandmother in the face before driving to Robb Elementary School, barricading himself in a classroom and opening fire. He killed 19 students and two teachers in the deadliest US school shooting in a decade, prior to being killed by police. When asked what reasons the shooter could have had to commit the killings, Martinez repeated she had "no words" and that he may have gone to the elementary school "to get closer to those children instead of paying attention to the other bad things.""Forgive me," CNN reported Martinez said. "Forgive my son." Read the original article on Business Insider.....»»

Source:  businessinsiderCategory: top~4 hr. 35 min. ago Related News

When Amazon drones crashed, the company told the FAA to go fly a kite

Amazon is pushing to launch the first version of its drone program by mid-2024, and aims to expand test deliveries to 1,300 customers this year. An early version of an Amazon drone flies in front of the company logo.Peter Endig/picture alliance via Getty Images Amazon has tried to avoid federal investigations of some of its drone crashes, according to federal documents obtained by Insider. At least eight Amazon drones have crashed during testing in the past year, Insider previously reported. Amazon has been expanding its drone delivery tests and hopes to make an early version available to customers by mid-2024. Amazon's Prime Air autonomous drone delivery program has tried to put off federal investigations into some of its drone crashes by claiming that the company has the authority to investigate its own crashes, according to federal documents obtained through a public records request. The company has also been slow to turn over data related to crashes, the documents show. On at least two occasions, inspectors for the Federal Aviation Administration, which regulates drone flights, were surprised to learn that Amazon had moved crash evidence, which an inspector said inhibited at least one of the investigations, according to the documents. During another investigation, Amazon told the FAA that the agency's involvement was unnecessary.At least eight Amazon drones crashed during testing in the past year, Insider previously reported, including one that sparked a 20-acre brush fire in eastern Oregon last June after the drone's motors failed. Taken together, the documents suggest that Amazon has at times begrudged federal inspections of its experimental drone crashes. These findings come as the company seeks FAA approval to fly its drones in residential areas ahead of a potential mid-2024 customer debut.Regulatory delays could "totally disrupt" that timeline, the company told FAA officials in a Zoom call with the agency earlier this year, according to the FAA's notes on that call. An Amazon spokesperson said that Insider's characterization of the FAA documents was "misleading and inaccurate." Prime Air "has complied with all incident reporting, investigation, and other applicable regulatory requirements," the spokesperson, Kelly Nantel, said. "Over the last seven years, the FAA has never taken an enforcement action against Prime Air, and has awarded us an air carrier certificate to enable commercial deliveries — showing that our comprehensive process has met the FAA's high bar."Amazon's former retail chief Jeff Wilke showed off a Prime Air drone model at the 2019 Re:Mars robotic conference.JORDAN STEAD/ AmazonSince launching in 2013, Prime Air has been beset by delays and missed deadlines. The division has been under recent pressure to deliver results. Executives earlier this year concluded the seven years the team had spent on R&D had failed to produce "a delivery service that could be safely operated over populated areas," Insider previously reported. Prime Air VP David Carbon, a former Boeing executive, has spent the past two years pushing the division to complete testing needed to obtain regulatory approval for its autonomous drones. But changing goals, frequent delays, and a shifting culture has led to low morale, employee burnout, and an attrition rate as high as 70% on the company's test team, Insider previously reported. Some employees have left amid concerns about Prime Air's safety culture, Bloomberg reported last month. Amazon has taken so long to unveil its drone delivery program because its engineers are "working to solve complicated problems and are committed to extensive testing to ensure our drone delivery service is safe and reliable. Doing so involves meeting very high internal, technical, and regulatory bars," Nantel said. An FAA inspector spars with AmazonTo adhere to its timeline of unveiling drone delivery by 2024, Amazon needs a suite of FAA approvals within the next two years. The approvals would allow the drones to fly beyond the sight-lines of Prime Air operators and observers, over cities and towns, and to take off and land in close proximity to people, according to internal company documents obtained by Insider.Obtaining those approvals requires the FAA to sign off on the drones' safety. Amazon, however, has insisted the FAA did not need to be involved in investigating the cause of some of its drone crashes, according to public records.Last July, Amazon told an FAA inspector who had been sent to investigate crashes at Amazon's drone test site in Pendleton, Oregon, that the agency's involvement was unnecessary because Amazon was conducting its own crash investigations, the inspector, Jim Holden, wrote in notes appended to two crash reports. An FAA spokesperson said the agency has the ultimate authority to investigate aircraft crashes when it decides it is necessary to do so. Amazon's spokesperson did not respond to questions about jurisdiction over crash investigations.The company also seemed reluctant to release details about crashes, Holden wrote. In one report, he noted that he was still waiting for "photos and information" about a crash a month after it occurred. Holden wrote in the same report that Amazon's representative had tried to put off the crash inspection by saying he had a dentist appointment.In a separate report, Holden noted that he was prompted to make an in-person visit to the crash site in order to "remedy" Amazon's "slow and cautious release of details about incidents." Amazon was "confused as to why we are looking into" drone crashes "in so much detail," Holden wrote, speculating that "Amazon legal is likely communicating their concerns of our elevated involvement directly to FAA Headquarters personnel." An FAA spokesperson declined to comment on the agency's communications with Amazon. Reached by phone, Holden declined to respond to questions.Amazon at least twice removed drone wreckage before the FAA could investigate, according to the documents. Last July, during an inspection related to a drone that had dropped 120 feet out of the sky, Holden asked to see the remains of the drone's motor and propeller, central and sensitive parts of the machine. He reported that the "motor and propeller had been removed by the engineers and sent to Seattle for THEM TO INVESTIGATE," the all-caps a departure from the style of the rest of his reports. Two months earlier, Amazon had also removed wreckage of a drone that had crashed due to a propeller failure. Investigation of that crash site "was not possible," the inspector noted in that instance, and reminded Amazon that crash debris "should not be disturbed or moved until after release of wreckage" by federal regulators. An earlier model of Amazon's Prime Air drone.Amazon Prime AirAn Amazon spokesperson said it is now the company's practice to notify the FAA before moving crash wreckage. Motor and propeller failures have been the cause of many of Amazon's recent drone crashes, according to seven federal crash reports reviewed by Insider, as well as two former Prime Air employees. In the fiery crash last June, Amazon's 89-pound drone plummeted 160 feet to the ground "in uncontrolled free fall," according to an FAA crash report. An "intense lithium battery fire quickly consumed the aircraft," and the fire spread to the field where the drone had crash-landed, the report added. The municipal fire department contained the blaze, according to a fire report from the incident.Companies and regulators expect some experimental aircraft to crash during testing, where the machines are pushed to their limits. "With rigorous testing like this, we expect incidents like these to occur, and we apply the learnings from each flight towards improving safety overall," Nantel said. Amazon tests its drones "over a controlled, unpopulated area," Nantel said, and "no people or property were harmed in the process." Internally, Prime Air recognizes that in order for autonomous drone delivery to catch on, customers must perceive it to be safe. "Safety is paramount" is the first of Prime Air's seven organizational tenets. Prime Air's first major public-facing test of its capabilities comes this fall, when the company expects to begin dropping Amazon packages to 1,300 test customers in Texas and California. Prime Air has previously only delivered packages to a handful of customers in a small-scale pilot program, largely in Oregon.Do you work at Amazon? Got a tip? Contact reporter Katherine Long on the encrypted messaging app Signal (+1-206-275-9280) or email (klong@insider.com). Reach out using a non-work device.Read the original article on Business Insider.....»»

Source:  businessinsiderCategory: top~4 hr. 51 min. ago Related News

Zelenskyy offers condolences to Americans following Uvalde school shooting, calling the incident "impossible to understand"

In a virtual address given to Stanford students, Ukrainian president Volodymyr Zelenskyy offered condolences to Americans following the Uvalde school shooting that killed 21 people. In this image from video provided by the Ukrainian Presidential Press Office and posted on Facebook early Saturday, March 12, 2022, Ukrainian President Volodymyr Zelenskyy speaks in Kyiv, Ukraine.Ukrainian Presidential Press Office via Associated Press Ukrainian President Zelenskyy on Friday offered condolences following the Uvalde school shooting.  In a virtual address to Standford students, he called the shooting "impossible to understand." The shooting occurred 3 months to the day Russia invaded Ukraine, Zelenskyy noted. In a virtual address delivered to Standford students on Friday, Ukrainian President Volodymyr Zelenskyy offered his condolences to Americans following Tuesday's school shooting in Uvalde, Texas. "It is impossible to understand at all. This is a tragedy," The New York Times reported Zelenskyy said of the attack on Robb Elementary School that left 19 students and two teachers dead. Zelenskyy noted that the Texas shooting occurred exactly three months after Russia's invasion of Ukraine. Since then, reports of Russian war crimes and the mass killings of Ukrainian civilians have permeated the international news cycle.There have been 16 school shootings in the United States since February 24, when Russia invaded Ukraine, according to EdWeek research. "And we live in a terrible time when Americans express condolences to Ukrainians over the deaths in war," Zelenksyy added. "And Ukrainians express condolences to Americans over the deaths in peace."Read the original article on Business Insider.....»»

Source:  businessinsiderCategory: top~4 hr. 51 min. ago Related News

Ask Marcia: How to bring about a healthier style of leadership

A new executive asks how to deal with a management team that's an "exclusive, dysfunctional clique that has caused high turnover." Leadership expert Marcia Daszko offers advice......»»

Source:  bizjournalsCategory: top~4 hr. 51 min. ago Related News

NW Natural bolsters water diversification with two acquisitions

The deals will give NW Natural Water more connections in the Puget Sound area......»»

Source:  bizjournalsCategory: top~4 hr. 51 min. ago Related News

I work remotely in southeast Asia for a month every year. I"m often up past 2 a.m. — but it"s worth it to be in a tropical paradise.

Sergi Benet is the cofounder of Balio, a financial-education platform. He told Insider what it's like working remotely from places like Bali. Sergi Benet and Andrea Gimeno in Bali.Sergi Benet Sergi Benet is the cofounder of Balio, a financial-education platform. He spends just over a month each year working from an exotic location with his partner. This is how they work remotely from another continent, as told to journalist David Vázquez. This is an edited, translated version of an as-told-to essay that originally appeared on May 21, 2022. It is based on a transcribed conversation with Sergi Benet.My partner, Andrea Gimeno, and I always had the same thought when we went on vacation. We wanted to go beyond the normal tourist experience.We believed that you needed to work and live like a local to really get to know a place. We pushed this thought aside for years until, in late 2019, we realized that maybe there was a way to fit it into our lives.A work and family crisis made us want a change of scenery and to escape our daily routine, but it was too difficult for us to take last-minute vacations, as we're both entrepreneurs.So we decided to compromise: We'd spend a month and a half living and working outside of Europe. This way, we'd get to experience a new country, our customers and suppliers wouldn't even realize that we'd left Spain, and we could travel without losing a single day of vacation.We enjoyed the experience so much that we decided we wanted to repeat it as soon as we could.Our first destination was Chiang Mai, ThailandLocated in the mountainous north, it's the second-largest city in the country. It seemed an ideal destination for us as it had a large number of cafés with WiFi connection. That, we thought, would ensure we could work remotely without any problems.It was one of our biggest mistakes as newbies. The cafés would get crowded, making remote work particularly difficult.In a coworking space, on the other hand, you know that the internet connection will always be reasonably stable and that you'll almost always have quiet places to speak with partners, investors, or clients.Apart from this small mistake, our month and a half in Chiang Mai opened up a world of possibilities for us.But our routine was nothing special. We tried to get up fairly early, around 8 or 9 a.m.. Afterward, we'd spend some time at the gym or go for a walk.We'd start our working day around lunchtime to be closer to Spanish working hours. We'd work until well after midnight.We tried to keep our routine in line with usual working hours in Chiang Mai. The only exception was on weekends, when we took the opportunity to visit nearby towns or escape to an island.We returned to Spain at the beginning of 2020, and any thoughts of our next trip were delayed due to the COVID-19 pandemic. As more months passed, though, we thought about our experience in Chiang Mai, and the more we wanted to get away again.For our next trip, we chose Bali, an island in Indonesia with good internet connection and lots of coworking spacesIf there are lots of coworking spaces, you can move between them if, for example, the air-conditioning breaks down in one you're working in.Our routine is very similar to the one we had in Chiang Mai: We got up early to have some free time in the morning, start working later, work until very late, and save any longer excursions for the weekend.It's a demanding routine, but it helps us get to know the place more than we would on a tourist holiday, and it allows us to keep working while we're here.The experience won't be for everyone though.You have to be disciplined and set yourself a routine, and it's particularly important to get going early in the morning. If you can't do that, then this way of working probably isn't for you.You also need to get used to working in extremely hot and humid conditions, and you need to be passionate about discovering every nook and cranny of the places you travel to, or you won't get the most out of the experience.For our trip to Bali, my partner and I set a monthly budget of about 1,500 euros, which included accommodation and food. Flights cost us about 700 euros each.One interesting way we found of meeting this budget is to adapt to the local culture, especially with things like food.In Bali, it's often cheaper to eat out than to try to cookSo if one day we spend a bit too much, we try to compensate the following day by eating in one of the local spots. It often only costs about 10 euros for both of us to eat out.One drawback is the long working hours. As a cofounder of a financial-education platform, I'm fortunate to have the trust of my business partners and investors. But it's almost impossible to ignore the fact that I'm on a tropical island. So in order to show my commitment to projects is still the same as at home, I find myself working even more hours than I would in Spain. I often work until well past 2 a.m.But I assure you, it pays off. So much so that my partner and I are already planning our next trip. At the moment, we've got Argentina in our sights. The country has a growing number of digital nomads and places to work, and the standard of living remains more or less stable for those paid in euros.Read the original article on Business Insider.....»»

Source:  businessinsiderCategory: top~6 hr. 34 min. ago Related News

At NRA meeting, Trump reads names of Uvalde shooting victims to the sound of gongs

"The various gun control policies being pushed by the left would have done nothing to prevent the horror that took place," Trump told NRA meeting attendees of the Uvalde shooting that killed 19 children and two teachers. Donald Trump speaks at the National Rifle Association (NRA) annual convention on May 27, 2022 in Houston, Texas.Brandon Bell/Getty Images The sound of gongs accompanied former Donald Trump's reading of the names of Uvalde shooting victims Friday. NRA meeting attendees applauded when Trump said the gunman will "be eternally damned to burn in the fires of hell." Gun control policies "being pushed by the left" would not have prevented the tragedy, he said. Former President Donald Trump read the names of the 19 children and two teachers who were killed in Uvalde, Texas, to the sound of gongs on Friday while speaking at the National Rifle Association annual meeting.It was a bizarre performance that some on social media who were watching described as a "ghoulish" spectacle, creepy, and "repulsive.""This is just gross. They have Trump trying to pronounce and read the names of the dead children while the NRA rings a bell. Disgusting," wrote Ron Filipowski, a former Marine and prosecutor who's dedicated much of his time to following the Trump base's online activities.The shooting at Robb Elementary School on Tuesday was a "savage and barbaric atrocity that shocks the conscience of every single American," Trump said, and the shooter, who died at the scene, "is pure evil, pure cruelty, pure hatred, absolute pure hatred." "And while those he slaughtered are now with God in Heaven he will be eternally damned to burn in the fires of hell," he said to applause.Police said the gunman was carrying a handgun, an AR-15 semi-automatic rifle and high-capacity magazines.—Acyn (@Acyn) May 27, 2022 Trump told NRA attendees that "cynical politicians" now seek to "exploit the tears of sobbing families" to take away 2nd Amendment rights and to shift blame from criminals to law-abiding citizens who belong to organizations "such as our wonderful NRA."It's a common refrain among conservatives in response to calls for gun safety reforms that follow every high-profile shooting. Much like the aftermath of other shootings, there is no clear path for legislation to reduce the high number of gun violence incidents in the US.Democrats and gun reform advocates have repeatedly argued that the failure among Republicans to act is because they're beholden to the powerful NRA that donates generously to conservative lawmakers.Trump on Friday called out President Joe Biden for blaming the gun lobby, and said Biden was talking about "Americans like you.""As always, in the wake of these tragedies, the various gun control policies being pushed by the left would have done nothing to prevent the horror that took place. Absolutely nothing," he said.Rather than gun safety measures, Trump called for making it "far easier to confine the violent and mentally deranged into mental institutions," expanded funding for police training, overhauling school security, and putting a police or armed resource officer in every school.The American Psychological Association says people with serious mental illnesses are more likely to be victims of gun violence than perpetrators.At the NRA meeting in Houston on Friday, the gong sounds came during a moment of silence for the victims.Read the original article on Business Insider.....»»

Source:  businessinsiderCategory: top~6 hr. 34 min. ago Related News

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FedNat subsidiary secures $15M investment amid restructuring plan

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Linde, global industrial gas company with $30B in revenue, considers Central Texas for project

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Eleven arrested at Chipotle worker rally in Manhattan

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Source:  crainsnewyorkCategory: blog~6 hr. 49 min. ago Related News

Deals of the Day: May 27

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Source:  crainsnewyorkCategory: blog~6 hr. 49 min. ago Related News

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Source:  crainsnewyorkCategory: blog~6 hr. 49 min. ago Related News

Return to office to avoid staff conflicts, JLL boss says

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2024 Democratic National Convention could be an economic boon

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Letters to the Editor: City should reimburse nonprofits for bridge loans

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iMentor CEO on helping students learn the importance of who you know

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Five free outdoor events for Memorial Day weekend

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Fleet Week inaugurates Memorial Day weekend in the city

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Gas Price Predictions: How Much Will Gas Cost Over Memorial Day Weekend?

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Dogecoin Price Predictions: How High Can SpaceX Take the DOGE Crypto?

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What Would Biden’s Student Loan Forgiveness Plans Mean for SOFI Stock?

InvestorPlace - Stock Market News, Stock Advice & Trading Tips SOFI stock is in the green after a report that the White House is nearing a decision to cancel $10,000 of federal student loans per borrower. The post What Would Biden’s Student Loan Forgiveness Plans Mean for SOFI Stock? appeared first on InvestorPlace. More From InvestorPlace Stock Prodigy Who Found NIO at $2… Says Buy THIS It doesn’t matter if you have $500 in savings or $5 million. Do this now. Get in Now on Tiny $3 ‘Forever Battery’ Stock Early Bitcoin Millionaire Reveals His Next Big Crypto Trade “On Air”.....»»

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LUNA Airdrop, Terra 2.0 Launch Face New Delays Until May 28

InvestorPlace - Stock Market News, Stock Advice & Trading Tips The Terra 2.0 and accompanying LUNA airdrop are delayed until May 28. They were previously expected to launch on Friday, May 27. The post LUNA Airdrop, Terra 2.0 Launch Face New Delays Until May 28 appeared first on InvestorPlace. More From InvestorPlace Stock Prodigy Who Found NIO at $2… Says Buy THIS It doesn’t matter if you have $500 in savings or $5 million. Do this now. Get in Now on Tiny $3 ‘Forever Battery’ Stock Early Bitcoin Millionaire Reveals His Next Big Crypto Trade “On Air”.....»»

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What Do You Need to Know About the LUNA 2.0 Airdrop?

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Axcella (AXLA) Up on Decision to Prioritize Long-COVID Program

Axcella (AXLA) re-prioritizes its clinical portfolio to focus on the development of AXA1125 targeting long COVID and NASH. It also suspends the development of AXA1665 to focus resources on AXA1125 studies. Axcella Therapeutics AXLA announces that it has prioritized its clinical development portfolio, following the accelerated enrollment in its mid-stage study evaluating its pipeline candidate, AXA1125, as a potential treatment for long COVID, a large and growing consequence of the pandemic.The company has decided that it will focus on the development of AXA1125 targeting long COVID and non-alcoholic steatohepatitis (NASH). It will suspend the development of another pipeline candidate, AXA1665, as a potential treatment for overt hepatic encephalopathy (OHE) and focus resources on both the ongoing long COVID and NASH programs.Shares of Axcella gained 16.8% on May 26, following the re-prioritization of its clinical portfolio. However, Axcella’s shares have declined 6.7% so far this year compared with the industry’s decrease of 24.3%.Image Source: Zacks Investment ResearchAxcella believes that long COVID may provide a significant opportunity going forward as the number of patients is rising following the pandemic, which resulted in hundreds of millions of infections worldwide in the past two years. Long COVID is a post-COVID-19 condition referring to the constellation of long-term symptoms that some people experience after they have had the disease including fatigue and difficulty in breathing. Pre-clinical and clinical data demonstrated that treatment with AXA1125 may have an important impact.Currently, Axcella is evaluating AXA1125 in a phase IIa study targeting long COVID. The company rapidly achieved its enrollment target in the study. It expects top-line data from the mid-stage study in the third quarter of 2022.The company is also evaluating AXA1125 in a phase IIb study in NASH patients. Interim data from the study is expected during the third quarter.Axcella decided to suspend the development of AXA1665 as a potential treatment of OHE as it faces challenges with patient enrollment due to the rarity of the disease, which can lead to a longer approval timeline. The company had initiated a mid-stage study on the candidate last year. Although Axcella decided to suspend the AXA1665 study, it still believes that the candidate is an effective therapy based on two prior clinical studies. The company is currently looking for a potential partner for the development of AXA1665 in OHE and other potential indications.Axcella Health Inc. Price Axcella Health Inc. price | Axcella Health Inc. QuoteZacks Rank & Stocks to ConsiderAxcella currently carries a Zacks Rank #3 (Hold).Some better-ranked biotech/drug stocks are Alkermes ALKS, ProPhase Labs PRPH and Sesen Bio SESN. While ProPhase and Sesen Bio sport a Zacks Rank #1 (Strong Buy), Alkermes carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.The Zacks Consensus Estimate for Alkermes’ 2022 loss per share has narrowed from 10 cents to 3 cents in the past 30 days. Shares of ALKS have risen 24% year to date.Earnings of Alkermes beat estimates in each of the last four quarters, the average being 350.48%.Earnings estimates for ProPhase’s 2022 bottom line have improved from earnings of 27 cents per share to 55 cents per share over the past 30 days. PRPH stock is up 23.8% this year so far.ProPhase exceeded earnings expectations in two of the last four quarters, while missing the same twice. The company has a negative four-quarter earnings surprise of 130.56%, on average.The Zacks Consensus Estimate for Sesen Bio’s 2022 loss has declined from 33 cents to 32 cents per share in the past 30 days. Shares of SESN have declined 38.1% in the year-to-date period.Earnings of Sesen Bio beat estimates in three of the last four quarters and missed the mark on one occasion, the average surprise being 69.94%. Just Released: The Biggest Tech IPOs of 2022 For a limited time, Zacks is revealing the most anticipated tech IPOs expected to launch this year. Concerns about Federal interest rates and inflation caused many private companies to stay on the bench- leading to companies with better brand recognition and higher growth rates getting into the game. With the strength of our economy and record amounts of cash flooding into IPOs, you don’t want to miss this opportunity. See the complete list today.>>See Zacks Hottest IPOs NowWant 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 Alkermes plc (ALKS): Free Stock Analysis Report ProPhase Labs, Inc. (PRPH): Free Stock Analysis Report SESEN BIO, INC. (SESN): Free Stock Analysis Report Axcella Health Inc. (AXLA): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research.....»»

Source:  zacksCategory: top~6 hr. 49 min. ago Related News

Red Robin (RRGB) Stock Up on Q1 Earnings & Revenues Beat

Red Robin's (RRGB) first-quarter fiscal 2022 results benefit from the favorable guest count, increased menu mix and pricing and discounted offerings. Red Robin Gourmet Burgers, Inc. RRGB reported first-quarter fiscal 2022 results, with earnings and revenues beating the Zacks Consensus Estimate. The top and bottom lines improved on a year-over-year basis. Following the results, the company’s shares gained 16% in the after-hours trading session on May 26.Earnings & Revenue DiscussionIn the first quarter, Red Robin reported an adjusted loss per share of 12 cents, narrower than the Zacks Consensus Estimate of a loss of 68 cents. In the year-ago quarter, the company reported an adjusted loss of 30 cents.Quarterly revenues of $395.6 million surpassed the consensus mark of $379 million. The top line increased 21.2% year over year. The upside was primarily driven by favorable guest count, increased menu mix and pricing and discounted offerings.During the quarter under review, comparable restaurant revenues climbed 19.7% year over year. The upside was primarily driven by a 6.9% rise in guest count and a 12.8% increase in average guest checks. The rise in average guest check can be attributed to a 5.4% increase in pricing, a 6% improvement in menu mix and a 1.4% decline in discounts. Menu mix, during the fiscal first quarter, gained from higher dine-in sales and limited-time menu offerings.Red Robin Gourmet Burgers, Inc. Price, Consensus and EPS Surprise Red Robin Gourmet Burgers, Inc. price-consensus-eps-surprise-chart | Red Robin Gourmet Burgers, Inc. QuoteOperating ResultsThe restaurant-level operating profit margin was 14% in the fiscal first quarter compared with 15.7% reported in the prior-year quarter.During the fiscal first quarter, restaurant labor costs (as a percentage of restaurant revenues) increased 130 bps year over year to 36.3%. The upside was primarily due to labor inflation.Meanwhile, other operating costs declined 30 bps year over year to 17.8%. During the quarter under review, the cost of sales increased 220 bps year over year to 23.9%. Occupancy costs fell 140 bps year over year to 8%.Adjusted earnings before interest expenses, income taxes, depreciation and amortization during the fiscal first quarter amounted to $28 million compared with $27.4 million in the year-ago quarter.Other Financial InformationAs of Apr 17, 2022, Red Robin had cash and cash equivalents of $33.8 million compared with $22.8 million as of Dec 26, 2021. Long-term debt as of Apr 17, 2022, stood at $192.4 million compared with $167.3 million as of Dec 26, 2021.Inventories during the quarter were $25.2 million flat year over year.GuidanceRed Robin reiterated 2022 guidance. For fiscal 2022, the company continues to expect capital expenditures in the range of $40 million to $50 million. This includes investments related to restaurants, infrastructure and systems capital maintenance, digital guest, operational technology solutions and off-premises execution enhancements.For fiscal 2022, the company continues to expect selling, general and administrative costs in the range of $145 million to $155 million. Adjusted EBITDA is anticipated between $80 million and $90 million. In 2022, the company anticipates commodity and restaurant labor cost inflation to be in the mid-to-high single digit.Zacks Rank & Key PicksRed Robin currently has a Zacks Rank #3 (Hold).Some better-ranked stocks in the Zacks Retail-Wholesale sector are MarineMax, Inc. HZO, BBQ Holdings, Inc. BBQ and Cracker Barrel Old Country Store CBRL.MarineMax sports a Zacks Rank #1 (Strong Buy). The company has a trailing four-quarter earnings surprise of 32.8%, on average. Shares of the company have declined 19.1% in the past year. You can see the complete list of today's Zacks #1 Rank stocks here.The Zacks Consensus Estimate for MarineMax’s 2022 sales and EPS suggests growth of 16% and 21.5%, respectively, from the year-ago period’s levels.BBQ Holdings carries a Zacks Rank #2 (Buy). BBQ Holdings has a long-term earnings growth of 14%. Shares of the company have decreased 11.7% in the past year.The Zacks Consensus Estimate for BBQ Holdings’ 2022 sales and EPS suggests growth of 46.1% and 67.6%, respectively, from the year-ago period’s levels.Cracker Barrel carries a Zacks Rank #2. Cracker Barrel has a long-term earnings growth of 9.4%. Shares of the company have declined 34.8% in the past year.The Zacks Consensus Estimate for Cracker Barrel’s 2022 sales and EPS suggests growth of 17.3% and 33.5%, respectively, from the year-ago period’s levels. Just Released: The Biggest Tech IPOs of 2022 For a limited time, Zacks is revealing the most anticipated tech IPOs expected to launch this year. Concerns about Federal interest rates and inflation caused many private companies to stay on the bench- leading to companies with better brand recognition and higher growth rates getting into the game. With the strength of our economy and record amounts of cash flooding into IPOs, you don’t want to miss this opportunity. See the complete list today.>>See Zacks Hottest IPOs NowWant 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 Cracker Barrel Old Country Store, Inc. (CBRL): Free Stock Analysis Report Red Robin Gourmet Burgers, Inc. (RRGB): Free Stock Analysis Report MarineMax, Inc. (HZO): Free Stock Analysis Report BBQ Holdings, Inc. (BBQ): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research.....»»

Source:  zacksCategory: top~6 hr. 49 min. ago Related News

Here"s Why Investors Should Retain Restaurant Brands (QSR) Now

Restaurant Brands (QSR) is likely to benefit from a rise in comparable sales, unit growth and menu innovation. Restaurant Brands International Inc. QSR is likely to benefit from a rise in comparable sales, unit growth and menu innovation. However, high costs remain a concern. Year to date, the company’s shares have fallen15.4%, compared with the industry’s decline of 20%. Let’s delve deeper.Key CatalystsDespite the coronavirus crisis, the company impressed investors with solid comps. During the first quarter of 2022, comps in the Tim Hortons (Canada) and Burger King (international business) reflected growth of 10.1% and 20.1%, respectively, on a year-over-year basis. The upside was primarily driven by solid promotions with respect to its core platform and a rise in delivery and digital sales.The Zacks Rank #3 (Hold) company believes that there is a huge opportunity to grow all its brands around the world by expanding its presence in existing markets as well as entering new markets. Currently, it has more than 29,000 restaurants worldwide. During second-quarter 2021, the company opened the 400th Burger King store in France in association with its master franchisee, Groupe Bertrand. Restaurant Brands continues to evaluate opportunities to accelerate the international development of all the three brands by establishing master franchisees with exclusive development rights and joint ventures with new and existing franchisees. The company is very optimistic about growth opportunities in 2022 and remains on track to grow its restaurant base toward its long-term goal of 40,000 locations.Restaurant Brands’ loyalty program, Tim's Rewards, has been gaining popularity. The company announced that following a rapid ramp-up phase, nearly half of the customers pay through Tim's Rewards. Restaurant Brands is presently testing a loyalty program in Canada across different markets as high loyalty card adoption rates have been witnessed in these test markets. During fourth-quarter 2021, monthly active users in the platform were 4.5 million, representing growth of 50% from the prior-year quarter’s levels. It plans to integrate loyalty cards into the digital channel, basically through its mobile app. During the first quarter of 2021, the company rolled out a new Royal Perks loyalty program at its Burger King restaurants. It unveiled a new digital-first loyalty program at Popeyes. In September, Restaurant Brands completed the nationwide in-store rollout of its Royal Perks loyalty program. The company is satisfied with the initial results of the loyalty program, with approximately 80% of registered digital guests now having transformed to Royal Perks.The company has been focusing on expanding delivery via digital platforms amid the pandemic. Two years ago, the company had just a couple of hundred restaurants in North America on delivery. However, currently, it has more than 10,000 active restaurants across its three brands, with most offering delivery via the company’s digital platforms. Since February 2020, the company has added approximately 3,000 new restaurants to deliver in the United States and Canada. In Canada, the company provides delivery services from nearly 1,200 restaurants. During first-quarter 2022, Tims Canada generated more than 36% of its sales from digital channels. Burger King, Popeye's, and Firehouse Subs generated 9%, 18% and 30% of sales, respectively, through digital channels. The company’s performance has been primarily driven by attributes such as growth in delivery, an increase in mobile order and pay and continued traction in the loyalty program.Image Source: Zacks Investment ResearchKey PicksSome better-ranked stocks in the Zacks Retail-Wholesale sector are MarineMax, Inc. HZO, BBQ Holdings, Inc. BBQ and Cracker Barrel Old Country Store CBRL.MarineMax sports a Zacks Rank #1 (Strong Buy). The company has a trailing four-quarter earnings surprise of 32.8%, on average. Shares of the company have declined 19.1% in the past year. You can see the complete list of today's Zacks #1 Rank stocks here.The Zacks Consensus Estimate for MarineMax’s 2022 sales and EPS suggests growth of 16% and 21.5%, respectively, from the year-ago period’s levels.BBQ Holdings carries a Zacks Rank #2 (Buy). BBQ Holdings has a long-term earnings growth of 14%. Shares of the company have decreased 11.7% in the past year.The Zacks Consensus Estimate for BBQ Holdings’ 2022 sales and EPS suggests growth of 46.1% and 67.6%, respectively, from the year-ago period’s levels.Cracker Barrel carries a Zacks Rank #2. Cracker Barrel has a long-term earnings growth of 9.4%. Shares of the company have declined 34.8% in the past year.The Zacks Consensus Estimate for Cracker Barrel’s 2022 sales and EPS suggests growth of 17.3% and 33.5%, respectively, from the year-ago period’s levels. Just Released: The Biggest Tech IPOs of 2022 For a limited time, Zacks is revealing the most anticipated tech IPOs expected to launch this year. Concerns about Federal interest rates and inflation caused many private companies to stay on the bench- leading to companies with better brand recognition and higher growth rates getting into the game. With the strength of our economy and record amounts of cash flooding into IPOs, you don’t want to miss this opportunity. See the complete list today.>>See Zacks Hottest IPOs NowWant 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 Cracker Barrel Old Country Store, Inc. (CBRL): Free Stock Analysis Report MarineMax, Inc. (HZO): Free Stock Analysis Report Restaurant Brands International Inc. (QSR): Free Stock Analysis Report BBQ Holdings, Inc. (BBQ): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research.....»»

Source:  zacksCategory: top~6 hr. 49 min. ago Related News

Inflation Metrics Continue Ticking Down, Pre-Markets Rally

PCE inflation and Advance Trade news all look like the burn of higher price points is finally starting to cool. Friday, May 27, 2022We begin a final trading day of the week with our fingers crossed — the Dow, currently +4.4% since Monday morning, is looking for break an 8-week losing streak. This is only the worst stretch on the blue-chip index in the past 99 years.And while it looks a safe bet that the Dow will finish higher for the week, whipsaw trading over the past couple months has at time been merciless — kind of like taking only a 2-point lead into the 4th quarter versus the Golden State Warriors: you’re likely to get buried before the end of the game. But if we’re looking for more good news, pre-market futures bounced from flat to up on new economic data this morning:Personal Consumption Expenditure (PCE) inflation for April reached +0.2% month over month, well below the +0.9% posted for March, which itself was a 17-year high. Stripping out volatile food and energy, this print comes in-line with expectations and the same as a month ago: +0.3%. This indicates that current inflation metrics are mostly as the gas pump and the supermarket, which you likely already know.Year-over-year PCE inflation is one of the key metrics tracking overall inflation in the U.S. economy, and here we see a +6.3%, down 30 basis points from the March read, which at +6.6% was the highest pinnacle we’d reached since President Reagan’s first term, 1982. Core PCE inflation year over year came in-line at +4.9%, again down 30 basis points month over month. These are all good developments for those of us interested in seeing overall inflation come down.Real Disposable Income was exactly flat for April, a big improvement from the -0.5% registered a month ago, while Real Personal Spending bumped up to +0.7% from +0.5% in March. So while the consumer continues to chug along — being more selective, perhaps out of necessity with sky-high gasoline prices, as we saw in a plethora of Q1 earnings reports from the Retail space — they continue to fight through the economic squeeze which, it looks like, is already starting to ease up. A few more months in this direction would be like manna for the markets.Advance Trade in Goods, also for April, also eased month over month: -$105.9 billion was a big step in the right direction from the -$125.9 billion registered in last month’s print — the largest-ever monthly headline deficit in the history of this record keeping. Retail Inventories were lower than expected at +0.7%, while Wholesale was in-line at +2.1%. Again, metrics are cooling the burn from previous months.That’s what pre-market investors think, too: from flat early-morning levels to the Dow now +120 points, the S&P 500 +30 points and the Nasdaq +130 points, it would appear there is a tad bit of relief on inflation concerns. Thus, perhaps there will be some more faith that the Fed will be able to land this economic plane safely, after all.Questions or comments about this article and/or its author? Click here>> Just Released: The Biggest Tech IPOs of 2022 For a limited time, Zacks is revealing the most anticipated tech IPOs expected to launch this year. Concerns about Federal interest rates and inflation caused many private companies to stay on the bench- leading to companies with better brand recognition and higher growth rates getting into the game. With the strength of our economy and record amounts of cash flooding into IPOs, you don’t want to miss this opportunity. See the complete list today.>>See Zacks Hottest IPOs NowWant 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 Invesco QQQ (QQQ): ETF Research Reports SPDR S&P 500 ETF (SPY): ETF Research Reports SPDR Dow Jones Industrial Average ETF (DIA): ETF Research Reports To read this article on Zacks.com click here. Zacks Investment Research 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 report.....»»

Source:  zacksCategory: top~6 hr. 49 min. ago Related News

Air Products (APD) Inks Development Deal With OQ & ACWA Power

Air Products' (APD) agreement is toward a multibillion-dollar investment in a world-scale green hydrogen-based ammonia manufacturing site powered by renewable energy in Oman. Air Products and Chemicals, Inc.  APD signed a joint development agreement (“JDA”) with OQ, Oman's leading integrated energy group, and ACWA Power. The JDA is related to a multibillion-dollar investment in Oman’s world-scale green hydrogen-based ammonia manufacturing plant powered by renewable energy.The joint venture project would be based on proven, world-class technology and include the innovative integration of renewable power from solar, wind and storage, production of hydrogen by electrolysis, production of nitrogen by air separation and production of green ammonia. It is expected that the project partners would equally own the green hydrogen-based ammonia manufacturing site.Air Products is elated to work with the government of Oman to develop this multibillion-dollar project. The project would be similar to the world-scale green hydrogen project it is implementing with its partners in NEOM in the Kingdom of Saudi Arabia. APD looks forward to applying its know-how, technology and more than six decades of experience in hydrogen to help move this project forward and take another significant step in decarbonizing the world.Shares of Air Products have declined 19.1% in the past year compared with an 8.5% fall of the industry.Image Source: Zacks Investment ResearchAir Products, in its fiscal second-quarter earnings call, stated that it expects full-year fiscal 2022 adjusted EPS of $10.20-$10.40, indicating 13-15% growth from the prior year’s adjusted EPS. For the third quarter of fiscal 2022, the company expects EPS in the range of $2.55-$2.65, suggesting a rise of 10-15% from third-quarter fiscal 2021 adjusted EPS.Air Products expects capital expenditures of $4.5-$5 billion for full-year fiscal 2022. Air Products and Chemicals, Inc. Price and Consensus  Air Products and Chemicals, Inc. price-consensus-chart | Air Products and Chemicals, Inc. Quote Zacks Rank & Key PicksAir Products currently carries a Zacks Rank #3 (Hold).Some better-ranked stocks in the basic materials space are Allegheny Technologies Inc. ATI, Nutrien Ltd. NTR and Cabot Corporation CBT.Allegheny has a projected earnings growth rate of 869.2% for the current year. The Zacks Consensus Estimate for ATI's current-year earnings has been revised 27.3% upward in the past 60 days.Allegheny’s earnings beat the Zacks Consensus Estimate in each of the last four quarters. It has a trailing four-quarter earnings surprise of roughly 128.9%, on average. ATI has gained around 10.4% in a year and currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.Nutrien has a projected earnings growth rate of 161.9% for the current year. The Zacks Consensus Estimate for NTR’s current-year earnings has been revised 26.9% upward in the past 60 days.Nutrien’s earnings beat the Zacks Consensus Estimate in three of the trailing four quarters, the average being 5.8%. NTR has gained 54.3% in a year. The company flaunts a Zacks Rank #1.Cabot, currently sporting a Zacks Rank #1, has an expected earnings growth rate of 21.5% for the current year. The Zacks Consensus Estimate for CBT's earnings for the current year has been revised 5.2% upward in the past 60 days.Cabot’s earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, the average being 16.2%. CBT has gained around 13.9% over a year. Just Released: The Biggest Tech IPOs of 2022 For a limited time, Zacks is revealing the most anticipated tech IPOs expected to launch this year. Concerns about Federal interest rates and inflation caused many private companies to stay on the bench- leading to companies with better brand recognition and higher growth rates getting into the game. With the strength of our economy and record amounts of cash flooding into IPOs, you don’t want to miss this opportunity. See the complete list today.>>See Zacks Hottest IPOs NowWant 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 Air Products and Chemicals, Inc. (APD): Free Stock Analysis Report Allegheny Technologies Incorporated (ATI): Free Stock Analysis Report Cabot Corporation (CBT): Free Stock Analysis Report Nutrien Ltd. (NTR): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research.....»»

Source:  zacksCategory: top~6 hr. 49 min. ago Related News

Flowers Foods (FLO) on Track to Boost Shareholder Returns

Flowers Foods (FLO) is hiking its dividend by 4.8% to boost shareholder wealth. The company increased its share repurchase authorization by 20 million shares. Flowers Foods, Inc. FLO is committed to rewarding shareholders through dividend payments and share buyback activities. For this purpose, the well-known producer of packaged bakery foods announced a dividend hike. In addition, the company increased its share repurchase authorization.Let’s take a closer look.Image Source: Zacks Investment ResearchBoosting Shareholder Returns Flowers Foods will now pay a quarterly dividend of 22 cents per share, up 4.8% from the year-ago period’s rate. The hiked dividend will be paid out on Jun 23, 2022, to shareholders of record as of Jun 9. This will mark the company’s 79th consecutive quarterly dividend paid.The dividend hike now takes up the annualized dividend rate to 88 cents per share compared with 84 cents per share paid during the previous year. Flowers Foods currently has a dividend payout of 67%, a dividend yield of 3.1% and a free cash flow yield of 2.6%. With an annual free cash flow return on investment of 6.4%, the increased dividend is likely to be sustainable. During the first quarter of fiscal 2022, FLO paid out dividends worth $46.7 million.Along with the dividend hike, the company increased its share repurchase authorization by 20 million shares. The move takes the current authorization to 25.4 million shares. The increased repurchase authorization gives Flowers Foods sufficient repurchase capacity as it continues to implement its growth plans and preserve balance sheet discipline. We note that Flowers Foods had 5.4 million shares outstanding under its existing authorization at the end of the fiscal first quarter.The aforementioned moves speak volumes about Flowers Foods’ growth prospects and balance sheet strength. FLO’s shares have increased 3.7% in the past six months compared with the industry’s 2.5% growth.What Else Should You Know?The Zacks Rank #4 (Sell) company has been seeing elevated costs for a while. During the recently released first-quarter fiscal 2022 results, the company’s materials, supplies, labor and other production costs (excluding depreciation and amortization) escalated by 110 basis points (bps) to 50.5%. This was a result of increased ingredient and packaging expenses. The company’s adjusted EBITDA margin was 11.5%, which contracted 90 bps in the quarter. Apart from this, Flowers Foods’ selling, distribution and administrative (SD&A) expenses came in at 38.6% of sales, up 10 bps, thanks to escalated consulting costs and transportation cost inflation.Management adjusted its fiscal 2022 outlook to reflect higher pricing, more-than-anticipated inflation and supply chain disruptions. For fiscal 2022, adjusted earnings per share (EPS) are envisioned in the range of $1.20-$1.30. Management earlier expected adjusted EPS between $1.25 and $1.35. The company has undertaken price increases to counter shortages and dynamic commodity prices. Management expects the pricing action to come into effect during the fiscal second quarter. Incidentally, the price lag and supply chain disruptions are likely to hurt EPS by 5 cents in the fiscal second and third quarter.    3 Solid Food StocksSome better-ranked stocks are Pilgrim’s Pride PPC, Sysco Corporation SYY and Medifast MED.Pilgrim’s Pride, which produces, processes, markets and distributes fresh, frozen and value-added chicken and pork products, sports a Zacks Rank #1(Strong Buy). PPC has a trailing four-quarter earnings surprise of 31.4%, on average. You can see the complete list of today’s Zacks #1 Rank stocks here.The Zacks Consensus Estimate for Pilgrim’s Pride’s current financial year EPS suggests growth of almost 43% from the year-ago reported number.Sysco, which engages in the marketing and distributing of various food and related products, carries a Zacks Rank #2 (Buy). SYY has a trailing four-quarter earnings surprise of 9.1%, on average.The Zacks Consensus Estimate for Sysco’s current financial year sales and EPS suggests growth of 32.6% and 124.3%, respectively, from the year-ago reported number.Medifast, which manufactures and distributes weight loss, weight management, healthy living products and other consumable health and nutritional products, currently carries a Zacks Rank #2. MED has a trailing four-quarter earnings surprise of 12.9%, on average.The Zacks Consensus Estimate for Medifast’s current financial year sales and EPS suggests growth of almost 19% and 11.5%, respectively, from the year-ago reported figure. Just Released: The Biggest Tech IPOs of 2022 For a limited time, Zacks is revealing the most anticipated tech IPOs expected to launch this year. Concerns about Federal interest rates and inflation caused many private companies to stay on the bench- leading to companies with better brand recognition and higher growth rates getting into the game. With the strength of our economy and record amounts of cash flooding into IPOs, you don’t want to miss this opportunity. See the complete list today.>>See Zacks Hottest IPOs NowWant 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 Sysco Corporation (SYY): Free Stock Analysis Report Flowers Foods, Inc. (FLO): Free Stock Analysis Report Pilgrim's Pride Corporation (PPC): Free Stock Analysis Report MEDIFAST INC (MED): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research.....»»

Source:  zacksCategory: top~6 hr. 49 min. ago Related News

Microsoft (MSFT) Azure Selected by Meta to Boost AI Innovation

Microsoft (MSFT) Azure gets selected by Meta as its AI strategic partner. The expanded collaboration will also help Microsoft scale its PyTorch adoption on Azure. Microsoft MSFT, over the past few years, has almost doubled down on the cloud computing opportunity. Growing demand for the company’s cloud solutions is expected to strengthen its competitive position in the cloud computing market. In the last reported quarter, Microsoft Cloud revenues were up 32% year-over-year, at $23 billion. However, the company has lost 20.9% in the year-to-date period compared with the Zacks Computer - Softwareindustry's decline of 24.7%. Meanwhile, the Computer and Technologysector has tumbled 28.4% year to date.The company has been consistently focusing on upgrading and expanding its cloud offerings to expand its customer base.Recently, Microsoft announced that it had expanded its ongoing collaboration withMeta Platforms FB.As part of the extended partnership, Meta selected Azure as a strategic cloud provider to help accelerate artificial intelligence (AI) research and development (R&D).Meta will be using a dedicated Azure cluster of 5400 GPUs, using the latest virtual machine (VM) series in Azure for some of their large-scale AI research workloads.The Azure platform has four times the GPU-to-GPU bandwidth between virtual machines compared to other public cloud offerings. Thus, using Azure will enable Meta with faster distributed AI training.The Meta- Microsoft collaboration will also help in scaling PyTorch adoption on Azure, thus accelerating a developer’s journey from experimentation to production.In the near term, Microsoft has plans to build new PyTorch-based solutions for Azure. Moreover, the company will continue to provide enterprise-grade support for PyTorch, enabling customers and partners to deploy PyTorch models in production on both cloud and edge.Microsoft Corporation Price and Consensus  Microsoft Corporation price-consensus-chart | Microsoft Corporation Quote Accelerated Adoption of Microsoft Cloud Boosts ProspectsThe coronavirus-led pandemic has led to an accelerated digital transformation and cloud migration across organizations. Per a Market And Markets report, the global cloud computing market was valued at $445.3 billion in 2021 and is expected to reach $947.3 million by 2026, growing a witness a CAGR of 16.3%. The trend bodes well with tech companies such as Microsoft.In spite of Amazon AMZN ruling the addressable market with Amazon Web Services and Alphabet GOOGL threatening to become a significant competitor with Google Cloud, Microsoft’s cloud computing division is responsible for a significant portion of the company’s recent growth.According to the latest Canalys report, AWS accounted for 33% of the global cloud spending in first-quarter 2022, sustaining its leading position in the booming cloud market. Microsoft’s Azure, the second-largest cloud-service provider, accounted for 21% of the worldwide cloud spending. Alphabet’s Google Cloud represented 8% of the cloud spending, marking itself the third-largest cloud provider.Recently, Amazon Web Services announced the availability of its Graviton3 processor-backed Amazon Elastic Compute Cloud (Amazon EC2) C7g instances. Arm-based AWS Graviton3 processors deliver up to three times better performance for machine learning workloads compared with the company’s last-generation chips — AWS Graviton2 processors. While C7g instances offer enhanced performance to customers for their compute-intensive workload. This latest development will likely boost Amazon Web Services’ position in the addressable market.Further, Google Cloud entered into a technology partnership with AMD. Per the terms of the partnership, AMD will run electronic design automation (EDA) for its chip-design workloads on Google Cloud, further extending the on-premises capabilities of AMD data centers.Microsoft’s Azure continues to draw in customers. Per management, the number of $100 million-plus Azure deals more than doubled year-over-year in the third quarter.Earlier this year, leaders such across different industries such as Lufthansa Technik, BlackRock and Bridgestone have moved their SaaS platform to Microsoft Azure.Additionally, Atos, Chevron, Fujitsu, and Woolworths migrated their SAP applications to Azure in recent months. In the last reported quarter, Azure and other cloud services grew 46% and 49%, in constant currency, driven by continued strength in the company’s consumption-based services.As economies reopen and businesses shift to a hybrid model, Microsoft is expected to keep up its pandemic-induced sales of cloud solutions.  Notably, Microsoft expects Intelligent Cloud revenues of $21.4 billion for its fiscal fourth quarter, driven by strong growth in its Azure platform.Driven by these trends, Microsoft has also been witnessing a demand for its Windows products. The company has witnessed strength in its commercial PC market, which is expected to drive the Windows original equipment manufacturers (OEM) revenue in the near-term. To cater to the changing consumer preferences, Microsoft has introduced new and improved Surface devices that could encourage enterprises to stick with Windows as they move toward bring-your-own-device (BYOD) and cloud computing. This move is likely to help the company retain its enterprise customers. In the last reported quarter, revenues from the sale of Surface devices increased 8%.The adoption of the cloud and the ongoing demand for gaming consoles and work-from-home productivity tools and software are expected to continue to boost prospects for Microsoft, which currently carries a Zacks Rank #3 (Hold).You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. Just Released: The Biggest Tech IPOs of 2022 For a limited time, Zacks is revealing the most anticipated tech IPOs expected to launch this year. Concerns about Federal interest rates and inflation caused many private companies to stay on the bench- leading to companies with better brand recognition and higher growth rates getting into the game. With the strength of our economy and record amounts of cash flooding into IPOs, you don’t want to miss this opportunity. See the complete list today.>>See Zacks Hottest IPOs NowWant 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 Amazon.com, Inc. (AMZN): Free Stock Analysis Report Microsoft Corporation (MSFT): Free Stock Analysis Report Meta Platforms, Inc. (FB): Free Stock Analysis Report Alphabet Inc. (GOOGL): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research.....»»

Source:  zacksCategory: top~6 hr. 49 min. ago Related News

Aegon (AEG) Unit Closes Investment, Commences ESG-Centric Venture

Aegon's (AEG) division Aegon AM completes the first investment as part of its ESG-centric venture with Taurus and endeavor to bolster its asset portfolio. The asset management arm of Aegon N.V. AEG — Aegon Asset Management (Aegon AM) recently closed its initial investment linked with the $600 million ESG-focused equity venture entered into with the global private equity real estate firm Taurus Investment Holdings LLC in March 2022. The basic aim of the venture was to purchase value-add multifamily assets and convert these buildings into low-carbon, energy-efficient ones.The recently completed investment of Aegon was directed toward acquiring the first value-add multifamily asset of the venture located in Florida and constructed more than four decades ago, Canopy Villa Apartments. Both the parties in the ESG-centric venture will make use of their multifamily value-add investment expertise for managing the investment. Meanwhile, the subsidiary of Taurus (RENU Communities) will do the needful to significantly minimize the energy consumption and carbon output of those acquired assets.This, in turn, is expected to upgrade property operations of buildings that otherwise tend to lose their efficiency with the passage of time, leading to woes for real estate owners and operators. Aegon’s move to participate in the ESG-centric venture seems prudent, considering increased returns to its investors as a result of combining the multifamily value-add strategy with a unique decarbonization effort.Initiatives similar to the latest one highlight Aegon’s sincere efforts to reinforce its reputation as a high-quality investment strategy provider across varied asset classes. Aegon AM’s specialist global investment platforms further strengthen its reputation. Constant acquisitions of buildings similar to the Canopy Villa Apartments are likely to bolster AEG’s asset portfolio. As of Mar 31, 2022, Aegon manages and offers advice on assets worth $432 billion for its diverse client base spread across the globe.  Aegon focuses on extracting capital from Financial Assets and businesses that are not part of its core and growth markets. The released capital is utilized to pursue growth opportunities in the Asset Management business. To boost the operating margin of its Global Platforms, Aegon AM aims to achieve efficiency and boost growth. The power of Aegon’s investment capabilities is evident from its continual uptick in third-party net deposits on the Global Platforms. In the first quarter of 2022, third-party net deposits increased more than a three-fold year over year. Growing third-party net deposits continue to drive management fees of the Aegon AM unit, which remains the most significant contributor to revenues of the business.Shares of Aegon have rallied 14.8% in the past year against the industry’s decline of 16.5%. AEG currently carries a Zacks Rank #3 (Hold).Image Source: Zacks Investment ResearchStocks to ConsiderSome better-ranked stocks in the insurance space include Assurant, Inc. AIZ, MGIC Investment Corporation MTG and Everest Re Group, Ltd. RE. While Assurant sports a Zacks Rank #1 (Strong Buy), MGIC Investment and Everest Re each carry a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.Assurant’s earnings surpassed estimates in each of the last four quarters, the average surprise being 18.31%. The Zacks Consensus Estimate for Assurant’s 2022 earnings suggests an improvement of 37.6% from the year-ago reported figure, while the same for revenues suggests growth of 4.9%. The consensus mark for AIZ’s 2022 earnings has moved north by 3.2% in the past 30 days.The bottom line of MGIC Investment outpaced earnings estimates in three of the last four quarters and met once, the average surprise being 10.94%. The Zacks Consensus Estimate for MGIC Investment’s 2022 earnings suggests an improvement of 18.9% from the year-ago reported figure. The consensus mark for MTG’s 2022 earnings has moved north by 8.6% in the past 30 days.Everest Re’s earnings surpassed estimates in two of the trailing four quarters and missed twice, the average surprise being 20.35%. The Zacks Consensus Estimate for Everest Re’s 2022 earnings indicates a rise of 18.3% year over year, while the same for revenues suggests an improvement of 10.7%. The consensus mark for RE’ 2022 earnings has moved north by 7.1% in the past 30 days.Shares of Assurant and Everest Re have rallied 11.5% and 7.7%, respectively, in a year. Meanwhile, MGIC Investment’s stock has declined 7.2% in the same period. Just Released: The Biggest Tech IPOs of 2022 For a limited time, Zacks is revealing the most anticipated tech IPOs expected to launch this year. Concerns about Federal interest rates and inflation caused many private companies to stay on the bench- leading to companies with better brand recognition and higher growth rates getting into the game. With the strength of our economy and record amounts of cash flooding into IPOs, you don’t want to miss this opportunity. See the complete list today.>>See Zacks Hottest IPOs NowWant 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 Aegon NV (AEG): Free Stock Analysis Report MGIC Investment Corporation (MTG): Free Stock Analysis Report Assurant, Inc. (AIZ): Free Stock Analysis Report Everest Re Group, Ltd. (RE): Free Stock Analysis Report To read this article on Zacks.com click here......»»

Source:  zacksCategory: top~6 hr. 49 min. ago Related News

5 ETFs to Make the Most of Busy Memorial Day Travel

Travel during this Memorial Day holiday weekend is expected to return to near pre-pandemic levels. Travel during this Memorial Day holiday weekend is expected to return to near pre-pandemic levels. More Americans are expected to travel given a rapid return of business and international travel along with vaccine acceptance and the reopening of borders. Air travel has rebounded strongly, jumping 25% over the last year — the second-largest increase since 2010.Increase in travel demand should boost revenues and profitability for the travel and tourism industry, thereby leading to higher share prices. Investors can tap this trend through ETFs that stand to profit big time from an upbeat Memorial Day travel trend. As such, ETFMG Travel Tech ETF AWAY, Defiance Hotel, Airline, and Cruise ETF CRUZ, SonicShares Airlines, Hotels, Cruise Lines ETF TRYP, ALPS Global Travel Beneficiaries ETF JRNY and AdvisorShares Hotel ETF BEDZ look like intriguing picks.According to travel service provider American Automobile Association (“AAA”), about 39.2 million Americans will travel 50 miles (80 km) or more over the Memorial Day weekend (May 26-30), up 8.3% from last year's Memorial Day weekend. Of them, 34.9 million are expected to go on a road trip, 3.01 million would fly, and 1.33 million would travel by train and other modes (including buses and cruises).Despite historically high gas prices, about 89% of Americans are expected to hit the roads. Motorists are expected to pay the highest-ever gas price this weekend. The national average price of gasoline is projected to hit $1.50 per gallon (read: 4 Sector ETFs That Survived the Market Rout in April).Although daily car rental rates have declined 16% from last Memorial Day to an average of $100, the average lowest airfare is 6% more than last year at $184 per ticket, with Saturday being the most expensive day to fly and Monday the least. Additionally, mid-range hotel rates have increased about 42%, with the average lowest nightly rates ranging between $199 and $257 for AAA Approved Hotels.    ETFMG Travel Tech ETF (AWAY)ETFMG Travel Tech ETF is the first ETF that offers direct access to the technology-focused global travel and tourism industry. It follows the Prime Travel Technology Index, charging investors 75 bps in annual fees. ETFMG Travel Tech ETF holds 33 stocks in its basket, with travel bookings & reservations companies accounting for 54.1% of assets, followed by a 15.6% share in travel price comparison firms.ETFMG Travel Tech ETF has accumulated $241.8 million in its asset base and trades in an average daily volume of 203,000 shares.Defiance Hotel, Airline, and Cruise ETF (CRUZ)Defiance Hotel, Airline, and Cruise ETF tracks the BlueStar Global Hotels, Airlines, and Cruises Index, which measures the performance of globally listed companies primarily engaged in the travel and tourism industries. Holding 55 stocks in its basket, American firms make up for 72.3% of the portfolio, while Britain, Japan and Ireland round off the next three with single-digit exposure each (read: Time for Reopening-Friendly Travel & Leisure ETFs?).Defiance Hotel, Airline, and Cruise ETF, launched in June 2021, has gathered around $43.4 million in its asset base and charges 45 bps in annual fees. Volume is lower as it exchanges around 58,000 shares a day on average.SonicShares Airlines, Hotels, Cruise Lines ETF (TRYP)SonicShares Airlines, Hotels, Cruise Lines ETF provides exposure to a global portfolio of companies focused on what many investors consider to be the “core” of business and leisure travel: the airline, hotel and cruise line industries. It tracks the Solactive Airlines, Hotels, Cruise Lines Index, holding 62 stocks in its basket.SonicShares Airlines, Hotels, Cruise Lines ETF was launched in the space in May and has accumulated $10.9 million in its asset base so far. TRYP trades in an average daily volume of 38,000 shares and charges 75 bps in annual fees.ALPS Global Travel Beneficiaries ETF (JRNY)ALPS Global Travel Beneficiaries ETF, which was launched on Sep 7, provides diversified exposure to the global travel industry by tracking the S-Network Global Travel Index. The fund invests in 74 companies engaged in booking and rental agencies, airlines and airport services, hotels, casinos and cruise lines, along with travel-related companies identified through machine learning algorithms, such as luxury retail, entertainment, leisure, food and beverage and payment processing vendors (read: Should You Buy Travel Stocks & ETFs Now?).ALPS Global Travel Beneficiaries ETF has accumulated $7.9 million in its asset base and charges 65 bps in annual fees. JRNY trades in an average daily volume of 2,000 shares.AdvisorShares Hotel ETF (BEDZ)AdvisorShares Hotel ETF is the actively managed and only ETF investing exclusively in the global hotel and travel-related services. AdvisorShares Hotel ETF holds 30 stocks in its basket that are pretty spread across components.AdvisorShares Hotel ETF charges 99 bps in annual fees and trades in an average daily volume of 3,000 shares. It has amassed $5.1 million in its asset base.  Want key ETF info delivered straight to your inbox? Zacks’ free Fund Newsletter will brief you on top news and analysis, as well as top-performing ETFs, each week.Get it free >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report ETFMG Travel Tech ETF (AWAY): ETF Research Reports AdvisorShares Hotel ETF (BEDZ): ETF Research Reports SonicShares Airlines, Hotels, Cruise Lines ETF (TRYP): ETF Research Reports Defiance Hotel, Airline, and Cruise ETF (CRUZ): ETF Research Reports ALPS Global Travel Beneficiaries ETF (JRNY): ETF Research Reports To read this article on Zacks.com click here. Zacks Investment Research.....»»

Source:  zacksCategory: top~6 hr. 49 min. ago Related News

Jack in the Box (JACK) Q2 Earnings Lag Estimates, Revenues Top

Jack in the Box's (JACK) fiscal second-quarter top line is affected by staffing challenges, Omicron-induced headwinds and lapping of stimulus benefits from the prior-year period. Jack in the Box Inc. JACK reported mixed second-quarter fiscal 2022 results, with earnings missing the Zacks Consensus Estimate and revenues beating the same. The top line rose year over year, while the bottom line declined on a year-over-year basis. Following the results, the company’s shares dropped 2.9% during trading hours on May 26.Let’s take a closer look at the numbers.Earnings & Revenue DetailsDuring the fiscal second quarter, adjusted earnings from continuing operations came in at $1.16 per share. The figure missed the Zacks Consensus Estimate of $1.35. Also, the metric dropped 17.1% from $1.40 reported in the prior-year quarter.Quarterly revenues of $322.3 million beat the Zacks Consensus Estimate of $262 million by 23.1%. The top line rallied 25.3% on a year-over-year basis. Franchise rental revenues fell 1.7% year over year to $76.6 million. Franchise royalties and other revenues dropped 0.3% year over year to $47.1 million. Franchise contributions to advertising and other services revenues inched up 2.6% year over year to $47.3 million. Company restaurant sales increased to $151.3 million from $86 million reported in the prior-year quarter.Comps DiscussionIn the quarter under review, comps at Jack in the Box’s stores increased 1.7% year over year compared with 14.5% growth reported in the prior-year quarter. The upside in comps was primarily due to an increase in average checks partially offset by a decline in traffic.Same-store sales at franchised stores fell 1.1% year over year against 21.3% growth reported in the prior-year quarter. System-wide same-store sales fell 0.8% year over year against a 20.6% gain reported in the year-ago quarter. The downside was primarily driven by staffing challenges, Omicron-induced headwinds (during final weeks) and lapping of stimulus benefits from the prior-year period.Del Taco PerformanceOn Mar 8, 2022, the company completed the previously announced acquisition of Del Taco. The company has reported Del Taco system-wide and same-store sales performance based on its fiscal Q2 2022 calendar (Jan 24 through Apr 17).On a pro-forma basis (as of Apr 17, 2022), the brand’s same-store sales increased 2.5% year over year. Franchise and company-operated same-store sales reflected growth of 3.4% and 1.6%, year over year, respectively. The upside was primarily driven by strong LTO performance and higher average ticket and menu price, partially offset by menu mix and transaction trends.Operating HighlightsDuring the fiscal second quarter, restaurant-level adjusted margin came in at 15% compared with 25.9% reported in the prior-year quarter. The downside was driven by a rise in food and packaging costs, wage inflation of 14.2% and higher utilities and maintenance and repair costs.Food and packaging costs (as a percentage of company restaurant sales) rose 320 bps year over year to 31%. Commodity costs during the quarter increased 16.4% year over year. The upside can be attributed to a rise in the price of beef, pork, sauces and oil.The franchise level margin was 39.4% in the fiscal second quarter compared with 42% reported in the prior-year quarter.During the quarter, selling, general and administrative expenses accounted for 8.8% of total revenues compared with 7.3% in the prior-year quarter.Balance SheetAs of Apr 17, 2022, cash (and restricted cash) totaled $84.6 million compared with $73.6 million as of Oct 3, 2021. Inventories during the quarter came in at $5.8 million compared with $2.3 million as of Oct 3, 2021. Long-term debt (net of current maturities) totaled $1,812.6 million as of Apr 17, 2022, compared with $1,273.4 million at the end of Oct 3, 2021.During the fiscal second quarter, the company did not repurchase any shares. On Nov 19, 2021, the company’s board of directors announced an additional $200.0 million stock buyback program that expires on Nov 20, 2023. The company intends to resume share buyback during the second half of 2022.The company declared a cash dividend of 44 cents per share. The dividend will be paid out on Jun 22, 2022, to shareholders on record as of Jun 7, 2022.Fiscal 2022 OutlookFor fiscal 2022, the company expects system same-store sales growth to be flat to positive 1%, while Del Taco same-store sales are expected to grow in the range of 3-4%.Company-wide CapEx and Other Investments (including Del Taco) in fiscal 2022 is expected in the range of $75-80 million. SG&A expenses are estimated at approximately $120-130 million.For fiscal 2022, labor cost inflation is estimated in the range of 12-13%, while commodity cost inflation is expected to be between 12-14%. Overall Restaurant Level Margin in fiscal 2022 is anticipated to be approximately 17%.Company-wide operating earnings per share (EPS) for fiscal 2022 are expected in the range of $5.80 to $6.10.Zacks Rank & Key PicksJack in the Box currently has a Zacks Rank #4 (Sell).Some better-ranked stocks in the Zacks Retail-Wholesale sector are MarineMax, Inc. HZO, BBQ Holdings, Inc. BBQ and Cracker Barrel Old Country Store CBRL.MarineMax sports a Zacks Rank #1 (Strong Buy). The company has a trailing four-quarter earnings surprise of 32.8%, on average. Shares of the company have declined 19.1% in the past year. You can see the complete list of today’s Zacks #1 Rank stocks here.The Zacks Consensus Estimate for MarineMax’s 2022 sales and EPS suggests growth of 16% and 21.5%, respectively, from the year-ago period’s levels.BBQ Holdings carries a Zacks Rank #2 (Buy). BBQ Holdings has a long-term earnings growth of 14%. Shares of the company have decreased 11.7% in the past year.The Zacks Consensus Estimate for BBQ Holdings’ 2022 sales and EPS suggests growth of 46.1% and 67.6%, respectively, from the year-ago period’s levels.Cracker Barrel carries a Zacks Rank #2. Cracker Barrel has a long-term earnings growth of 9.4%. Shares of the company have declined 34.8% in the past year.The Zacks Consensus Estimate for Cracker Barrel’s 2022 sales and EPS suggests growth of 17.3% and 33.5%, respectively, from the year-ago period’s levels. Just Released: The Biggest Tech IPOs of 2022 For a limited time, Zacks is revealing the most anticipated tech IPOs expected to launch this year. Concerns about Federal interest rates and inflation caused many private companies to stay on the bench- leading to companies with better brand recognition and higher growth rates getting into the game. With the strength of our economy and record amounts of cash flooding into IPOs, you don’t want to miss this opportunity. See the complete list today.>>See Zacks Hottest IPOs NowWant 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 Cracker Barrel Old Country Store, Inc. (CBRL): Free Stock Analysis Report Janus Henderson Sustainable & Impact Core Bond ETF (JACK): Free Stock Analysis Report MarineMax, Inc. (HZO): Free Stock Analysis Report BBQ Holdings, Inc. (BBQ): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research.....»»

Source:  zacksCategory: top~6 hr. 49 min. ago Related News

Here"s Why WestRock (WRK) Stock is an Attractive Bet Now

Stellar Q2 results, robust demand for packaging, pricing actions and positive growth prospects make WestRock (WRK) a solid investment option. WestRock Company WRK looks attractive at the moment, aided by forecast-topping second-quarter fiscal 2022 results. The company benefits from continued strength in packaging demand, price-increase actions and strong growth in e-commerce. Sustainable fiber-based packaging solutions, significant demand in food, foodservice and beverage packaging categories and improved box shipment will continue to drive growth.Factors DetailingEarnings & Sales surpass Q2 Estimates: WestRock reported second-quarter adjusted earnings of $1.17 per share, beating the Zacks Consensus Estimate of $1.01. Revenues of $5.4 million also outpaced the Consensus Estimate of $5.08 billion. The top and the bottom line increased 21.3% and 117% year over year, respectively.Positive Earnings Surprise History: WestRock, a Zacks Rank #2 (Buy) stock, has a trailing four-quarter earnings surprise of 7.5%, on average.Positive Growth Expectations: The company’s earnings estimate for fiscal 2022 is pegged at $5.11, suggesting year-over-year growth of around 50.7%.Upward Estimate Revision: Current year figures look promising, with five estimates moving higher in the past one month compared to one downward revision. Earnings estimates for fiscal 2022 have gone up 6.5% in the past 30 days.Upbeat View: For the third quarter of fiscal 2022, WestRock expects adjusted earnings per share (EPS) in the range of $1.36-$1.54. The mid-point of the guidance indicates a rise of 24% from the adjusted earnings per share of $1.17 in the second quarter of fiscal 2022. Adjusted segment EBITDA for the quarter is anticipated to be between $930 million and $990 million. The mid-point of the range indicates sequential growth of 12%.Strong Financials: WestRock’s total debt was $8.4 billion as of the end of second-quarter 2022. The company’s net leverage ratio is at 2.34, nearing its long-term targeted range of 1.75-2.25. In the second quarter of fiscal 2022, the company generated $213 million of adjusted free cash flow, up significantly from the previous year's levels. For fiscal 2022, WRK expects a free cash flow of more than $1.3 billion.Price Performance: WestRock’s shares have gained 2.8% over the past six months, compared with the industry’s growth of 1.6%.Image Source: Zacks Investment Research Growth DriversWestRock’s corrugated packaging business is poised to gain from improved box shipment and increased demand from distribution, industrial and agricultural customers as the economy recovers from the pandemic. E-commerce demand remains strong across all channels and momentum will continue, particularly on account of the coronavirus pandemic. The consumer packaging business is gaining from sustainable fiber-based paper and packaging solutions and demand in food and beverage packaging categories. Strong demand for paper products in domestic and export markets is driving WRK’s paper business. The company’s overall packaging business will gain from solid demand and the implementation of previously announced containerboard and boxboard price increases.WestRock continues to invest in business, including strategic capital projects with attractive returns and targeted mergers and acquisitions. It has been witnessing healthy demand for containerboard and corrugated packaging in the Brazilian market and is well poised to capitalize on this growth with the ramp-up of the Tres Barras mill in the region. The company will reap the benefits of strategic capital projects in its mill and converting systems to improve the overall cost structure. These investments will enhance WestRock’s packaging capabilities in its served markets while reducing exposures to export containerboard and low-margin Specialty solid bleached sulfate businesses.WestRock successfully started the new state-of-the-art 710,000-ton paper machine at Florence, SC mill, which replaces three old and obsolete machines. This mill is expected to achieve full-production levels at the end of the fiscal fourth quarter. As part of the portfolio-optimization effort, the company announced closing its containerboard and pulp mill in Panama City. The move will save significant capital investment required to operate the mill, which now can be deployed in high-return growth areas. Also, WestRock is reducing exposure to the fluff pulp to focus more on higher-value markets.Other Stocks to ConsiderOther top-ranked stocks in the basic materials space are Allegheny Technologies Inc. ATI, Nutrien Ltd. NTR and Albemarle Corporation ALB.Allegheny has a projected earnings growth rate of 869.2% for the current year. The Zacks Consensus Estimate for ATI's current-year earnings has been revised 27.3% upward in the past 60 days.Allegheny’s earnings beat the Zacks Consensus Estimate in each of the last four quarters. It has a trailing four-quarter earnings surprise of roughly 128.9%, on average. ATI has gained around 15.2% in a year and currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.Nutrien has a projected earnings growth rate of 161.9% for the current year. The Zacks Consensus Estimate for NTR’s current-year earnings has been revised 26.9% upward in the past 60 days.Nutrien’s earnings beat the Zacks Consensus Estimate in three of the trailing four quarters, the average being 5.8%. NTR has gained 59.5% in a year. The company flaunts a Zacks Rank #1.Albemarle has a projected earnings growth rate of 175% for the current year. The Zacks Consensus Estimate for ALB’s current-year earnings has been revised 85.8% upward in the past 60 days.Albemarle’s earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, the average being 22.5%. ALB has gained 49.8% in a year. The company flaunts a Zacks Rank #1. Just Released: The Biggest Tech IPOs of 2022 For a limited time, Zacks is revealing the most anticipated tech IPOs expected to launch this year. Concerns about Federal interest rates and inflation caused many private companies to stay on the bench- leading to companies with better brand recognition and higher growth rates getting into the game. With the strength of our economy and record amounts of cash flooding into IPOs, you don’t want to miss this opportunity. See the complete list today.>>See Zacks Hottest IPOs NowWant 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 Allegheny Technologies Incorporated (ATI): Free Stock Analysis Report Albemarle Corporation (ALB): Free Stock Analysis Report WestRock Company (WRK): Free Stock Analysis Report Nutrien Ltd. (NTR): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research.....»»

Source:  zacksCategory: top~6 hr. 49 min. ago Related News

B2Gold (BTG) Inks Agreement to Acquire Oklo Resources for $65M

B2Gold's (BTG) Scheme Implementation Agreement states that each Oklo shareholder will receive the company's shares of 0.0206 and A$0.0525 (3 cents) in cash. B2Gold Corp. BTG entered into a Scheme Implementation Agreement with Oklo Resources Limited to acquire 100% of the fully-paid ordinary shares of Oklo for A$91.3 million ($65 million) or 17.25 cents per share (12 cents). This includes a cash payment of approximately A$27.4 million ($19.6 million).Per the agreement, each Oklo shareholder will receive 0.0206 of B2Gold’s share and A$0.0525 (3 cents) in cash. Additionally, B2Gold expects to issue up to 10,754,284 shares to Oklo stakeholders upon execution of the agreement.The latest deal is expected to provide B2Gold with an additional landholding capacity of 1,405 km2 with potential greenstone belts in Mali, West Africa, including Oklo's leading Dandoko Project.The Oklo properties are strategically located in Senegal-Mali Shear Zone, within 25 kilometers from the Fekola Mine and the Anaconda area. B2Gold is currently conducting approximately 225,000 meters of drilling in the Fekola and Anaconda area.On Dec 9, 2021, B2Gold entered into an agreement with Mali’s government related to issuing a permit for the Menankoto exploration near the Fekola mine. In exchange for this permit, the company stated that it would withdraw the arbitration proceedings that its Malian subsidiary, Menankoto SARL, started in June against the Republic of Mali over the denial of an extension for the Menankoto exploration permit. The government agrees to grant a new exploration permit covering the same perimeter as the Menankoto permit to a new Malian subsidiary of B2Gold. On Feb 2, B2Gold’s Malian subsidiary received the new Menankoto Permit from the Malian government in compliance with the procedures and requirements per the Malian 2019 Mining Code that provides a permit for an initial period of three years, which is renewable for two additional three years. Following this, B2Gold plans to expand the scope of its exploration activities in the Anaconda Area (comprised of the Menankoto Permit and the Bantako North Permit) to build on the successful ongoing exploration programs.This month, B2Gold reported first-quarter 2022 adjusted earnings per share (EPS) of 6 cents, beating the Zacks Consensus Estimate of 5 cents. The bottom line fell 33% year over year. The company generated revenues of $366 million, up 1% year over year. The top line also surpassed the Zacks Consensus Estimate of $343 million.In first-quarter’s earnings call, B2Gold reaffirms financial guidance for the current year. It expects current-year total gold production guidance between 990,000 ounces and 1,050,000 ounces. Total consolidated cash operating costs are projected between $620 per ounce and $660 per ounce. Total consolidated All-in sustaining cost (AISC) is anticipated to be between $1,010 and $1,050 per ounce.B2Gold intends to pursue additional internal growth through further exploration, development and expansion of the existing projects, following a very successful year for exploration in 2021. The company is planning for heavy exploration this year as well.Price PerformanceIn the past year, B2Gold’s shares have depreciated 19.8% compared with the industry’s loss of 18.1%.Image Source: Zacks Investment ResearchZacks Rank & Other Stocks to ConsiderB2Gold currently carries a Zacks Rank #2 (Buy).Some other top-ranked stocks in the basic materials space are Allegheny Technologies Inc. ATI, Nutrien Ltd. NTR and Albemarle Corporation ALB.Allegheny has a projected earnings growth rate of 869.2% for the current year. The Zacks Consensus Estimate for ATI's current-year earnings has been revised 27.3% upward in the past 60 days.Allegheny’s earnings beat the Zacks Consensus Estimate in each of the last four quarters. It has a trailing four-quarter earnings surprise of roughly 128.9%, on average. ATI has gained around 15.2% in a year and currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.Nutrien has a projected earnings growth rate of 161.9% for the current year. The Zacks Consensus Estimate for NTR’s current-year earnings has been revised 26.9% upward in the past 60 days.Nutrien’s earnings beat the Zacks Consensus Estimate in three of the trailing four quarters, the average being 5.8%. NTR has gained 59.5% in a year. The company flaunts a Zacks Rank #1.Albemarle has a projected earnings growth rate of 175% for the current year. The Zacks Consensus Estimate for ALB’s current-year earnings has been revised 85.8% upward in the past 60 days.Albemarle’s earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, the average being 22.5%. ALB has gained 49.8% in a year. The company flaunts a Zacks Rank #1. Just Released: The Biggest Tech IPOs of 2022 For a limited time, Zacks is revealing the most anticipated tech IPOs expected to launch this year. Concerns about Federal interest rates and inflation caused many private companies to stay on the bench- leading to companies with better brand recognition and higher growth rates getting into the game. With the strength of our economy and record amounts of cash flooding into IPOs, you don’t want to miss this opportunity. See the complete list today.>>See Zacks Hottest IPOs NowWant 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 Allegheny Technologies Incorporated (ATI): Free Stock Analysis Report Albemarle Corporation (ALB): Free Stock Analysis Report B2Gold Corp (BTG): Free Stock Analysis Report Nutrien Ltd. (NTR): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research.....»»

Source:  zacksCategory: top~6 hr. 49 min. ago Related News

Why Is Garmin (GRMN) Down 7.4% Since Last Earnings Report?

Garmin (GRMN) reported earnings 30 days ago. What's next for the stock? We take a look at earnings estimates for some clues. A month has gone by since the last earnings report for Garmin (GRMN). Shares have lost about 7.4% in that time frame, underperforming the S&P 500.Will the recent negative trend continue leading up to its next earnings release, or is Garmin due for a breakout? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important catalysts.Garmin's Q1 Earnings Miss EstimatesGarmin has reported first-quarter 2022 pro-forma earnings of $1.11 per share, missing the Zacks Consensus Estimate by 3.5%. Further, the bottom line declined 6% on a year-over-year basis.Net sales were $1.17 billion, which surpassed the Zacks Consensus Estimate of $1.14 million. The figure increased 39% from the year-ago quarter.Top-line growth was driven by the strong performance delivered by Garmin’s marine, auto and outdoor segments.However, the company witnessed sluggishness in the fitness segment in the reported quarter.Notably, Garmin’s strong focus on continued innovation, diversification and market expansion to explore opportunities across all business segments remains a major positive. Its strong product lines are expected to aid its performance in the near term.Segmental DetailsOutdoor (32.8% of net sales): The segment generated sales of $384.6 million in the reported quarter, increasing 50% year over year. This was driven by solid demand for Garmin’s adventure watches.Fitness (18.8%): The segment generated sales of $220.9 million, which decreased 28% from the year-ago quarter due to declining sales of cycling products, reflecting the normalization of demand from the pandemic-induced demand hike.Aviation (14.9%): The segment generated sales of $174.8 million, increasing 1% on a year-over-year basis. This was driven by solid momentum across the OEM category.Marine (21.7%): Garmin generated sales of $254.1 million from the segment, increasing 21% on a year-over-year basis. The company witnessed solid demand for chart plotters in the reported quarter, which, in turn, drove the segment’s revenues.Auto (11.8%): The segment generated sales of $138.3 million, up 11% from the prior-year quarter. This was primarily driven by strengthening momentum across auto OEM programs and consumer auto products.Operating ResultsIn the first quarter, the gross margin was 56.5%, which contracted 330 basis points (bps) from the year-ago period.The company’s operating expenses of $433.9 million were up 10.7% from the prior-year quarter. As a percentage of revenues, the figure expanded 50 bps year over year to 37%.The operating margin of 19.5% in the reported quarter contracted 380 bps year over year.Balance Sheet & Cash FlowAs of Mar 26, 2022, cash, cash equivalents and marketable securities were $1.8 billion, higher than $1.5 billion as of Dec 25, 2021.In the first quarter, inventories were $1.3 billion compared with $1.2 billion in the previous quarter. We note that the company had no long-term debt for the reported quarter.It generated $185.6 million in cash from operations in the reported quarter compared with $168.9 million in the previous quarter.Garmin generated a free cash flow of $125.9 million.GRMN paid out dividends worth $129 million in the reported quarter.2022 GuidanceThe company projects revenues of $5.5 billion.Garmin expects pro-forma earnings of $5.90 per share for 2022.The company anticipates gross and operating margins to be 57.5% and 22.8%.How Have Estimates Been Moving Since Then?In the past month, investors have witnessed a downward trend in estimates review.The consensus estimate has shifted -5.82% due to these changes.VGM ScoresCurrently, Garmin has an average Growth Score of C, though it is lagging a lot on the Momentum Score front with an F. However, the stock was allocated a grade of C on the value side, putting it in the middle 20% for this investment strategy.Overall, the stock has an aggregate VGM Score of C. If you aren't focused on one strategy, this score is the one you should be interested in.OutlookEstimates have been broadly trending downward for the stock, and the magnitude of these revisions indicates a downward shift. Notably, Garmin has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months. Just Released: The Biggest Tech IPOs of 2022 For a limited time, Zacks is revealing the most anticipated tech IPOs expected to launch this year. Concerns about Federal interest rates and inflation caused many private companies to stay on the bench- leading to companies with better brand recognition and higher growth rates getting into the game. With the strength of our economy and record amounts of cash flooding into IPOs, you don’t want to miss this opportunity. See the complete list today.>>See Zacks Hottest IPOs NowWant 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 Garmin Ltd. (GRMN): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research.....»»

Source:  zacksCategory: top~6 hr. 49 min. ago Related News

Hess (HES) Up 14.8% Since Last Earnings Report: Can It Continue?

Hess (HES) reported earnings 30 days ago. What's next for the stock? We take a look at earnings estimates for some clues. It has been about a month since the last earnings report for Hess (HES). Shares have added about 14.8% in that time frame, outperforming the S&P 500.Will the recent positive trend continue leading up to its next earnings release, or is Hess due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important catalysts.Hess Q1 Earnings Top Estimates Hess Corporation reported first-quarter 2022 earnings per share of $1.30, beating the Zacks Consensus Estimate of $1.12. The figure also improved from the year-ago earnings of 82 cents per share.Quarterly revenues increased to $2,371 million from $1,919 million a year ago. The top line also beat the Zacks Consensus Estimate of $2,030 million.The higher commodity price realizations backed the strong quarterly results.Operational UpdateExploration and ProductionFor the quarter under review, the Exploration and Production business reported adjusted earnings of $460 million, improving from a profit of $308 million a year ago. The business was favored by higher realized commodity prices, partially offset by decreased output.Quarterly hydrocarbon production was 297 thousand barrels of oil equivalent per day (MBoe/d), down from 333 MBoe/d in the year-ago period, owing to unplanned downtime in the Gulf of Mexico.Crude oil production decreased from 177 thousand barrels per day (MBbls/d) in first-quarter 2021 to 151 MBbls/d. Natural gas liquids production totaled 50 MBbls/d, down from 53 MBbls/d in the prior-year quarter. Natural gas output was 577 thousand cubic feet per day (Mcf/d), down from 617 Mcf/d a year ago.Worldwide crude oil realization per barrel of $94.04 (excluding the impacts of hedging) significantly improved from $52.52 in the year-ago period. Also, worldwide natural gas prices rose to $5.28 per Mcf from the year-ago figure of $4.90. The average worldwide natural gas liquids’ selling price increased to $39.79 per barrel from $29.49 a year ago.MidstreamFrom the midstream business, the company generated adjusted net earnings of $72 million, down from $75 million a year ago.Operating ExpensesOperating expenses for the first quarter totaled $313 million versus the year-ago level of $265 million. Marketing costs increased to $682 million from $518 million a year ago. Exploration expenses rose to $43 million from $33 million in the year-ago period.Total costs and expenses increased to $1,669 million for the quarter from $1,460 million a year ago.FinancialsNet cash used in operations was $156 million for the first quarter. Hess’ capital expenditure for exploration and production activities totaled $580 million.As of Mar 31, 2022, the company had $1,370 million in cash and cash equivalents. Its long-term debt was recorded at $7,934 million at first-quarter end. The current maturity of the long-term debt is $22 million.Other NewsOn Apr 26, Hess announced three discoveries in the Stabroek Block, thereby increasing the block’s gross discovered recoverable resource estimate from 10 billion barrels of oil equivalent to 11 billion barrels of oil equivalent. How Have Estimates Been Moving Since Then?It turns out, fresh estimates have trended downward during the past month.The consensus estimate has shifted -11.16% due to these changes.VGM ScoresAt this time, Hess has a nice Growth Score of B, though it is lagging a lot on the Momentum Score front with an F. Charting a somewhat similar path, the stock was allocated a grade of D on the value side, putting it in the bottom 40% for this investment strategy.Overall, the stock has an aggregate VGM Score of D. If you aren't focused on one strategy, this score is the one you should be interested in.OutlookEstimates have been broadly trending downward for the stock, and the magnitude of these revisions indicates a downward shift. Notably, Hess has a Zacks Rank #2 (Buy). We expect an above average return from the stock in the next few months. Just Released: The Biggest Tech IPOs of 2022 For a limited time, Zacks is revealing the most anticipated tech IPOs expected to launch this year. Concerns about Federal interest rates and inflation caused many private companies to stay on the bench- leading to companies with better brand recognition and higher growth rates getting into the game. With the strength of our economy and record amounts of cash flooding into IPOs, you don’t want to miss this opportunity. See the complete list today.>>See Zacks Hottest IPOs NowWant 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 Hess Corporation (HES): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research.....»»

Source:  zacksCategory: top~6 hr. 49 min. ago Related News

Fed"s Favorite Inflation Gauge Shows Sign of Decline

Fed's Favorite Inflation Gauge Shows Sign of Decline. We begin a final trading day of the week with our fingers crossed — the Dow, currently +4.4% since Monday morning, is looking for break an 8-week losing streak. This is only the worst stretch on the blue-chip index in the past 99 years.And while it looks a safe bet that the Dow will finish higher for the week, whipsaw trading over the past couple months has at time been merciless — kind of like taking only a 2-point lead into the 4th quarter versus the Golden State Warriors: you’re likely to get buried before the end of the game. But if we’re looking for more good news, pre-market futures bounced from flat to up on new economic data this morning:Personal Consumption Expenditure (PCE) inflation for April reached +0.2% month over month, well below the +0.9% posted for March, which itself was a 17-year high. Stripping out volatile food and energy, this print comes in-line with expectations and the same as a month ago: +0.3%. This indicates that current inflation metrics are mostly as the gas pump and the supermarket, which you likely already know.Year-over-year PCE inflation is one of the key metrics tracking overall inflation in the U.S. economy, and here we see a +6.3%, down 30 basis points from the March read, which at +6.6% was the highest pinnacle we’d reached since President Reagan’s first term, 1982. Core PCE inflation year over year came in-line at +4.9%, again down 30 basis points month over month. These are all good developments for those of us interested in seeing overall inflation come down.Real Disposable Income was exactly flat for April, a big improvement from the -0.5% registered a month ago, while Real Personal Spending bumped up to +0.7% from +0.5% in March. So while the consumer continues to chug along — being more selective, perhaps out of necessity with sky-high gasoline prices, as we saw in a plethora of Q1 earnings reports from the Retail space — they continue to fight through the economic squeeze which, it looks like, is already starting to ease up. A few more months in this direction would be like manna for the markets.Advance Trade in Goods, also for April, also eased month over month: -$105.9 billion was a big step in the right direction from the -$125.9 billion registered in last month’s print — the largest-ever monthly headline deficit in the history of this record keeping. Retail Inventories were lower than expected at +0.7%, while Wholesale was in-line at +2.1%. Again, metrics are cooling the burn from previous months.That’s what pre-market investors think, too: from flat early-morning levels to the Dow now +120 points, the S&P 500 +30 points and the Nasdaq +130 points, it would appear there is a tad bit of relief on inflation concerns. Thus, perhaps there will be some more faith that the Fed will be able to land this economic plane safely, after all. Just Released: The Biggest Tech IPOs of 2022 For a limited time, Zacks is revealing the most anticipated tech IPOs expected to launch this year. Concerns about Federal interest rates and inflation caused many private companies to stay on the bench- leading to companies with better brand recognition and higher growth rates getting into the game. With the strength of our economy and record amounts of cash flooding into IPOs, you don’t want to miss this opportunity. See the complete list today.>>See Zacks Hottest IPOs NowWant 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 To read this article on Zacks.com click here......»»

Source:  zacksCategory: top~6 hr. 49 min. ago Related News

Why Is PTC Inc. (PTC) Down 2% Since Last Earnings Report?

PTC Inc. (PTC) reported earnings 30 days ago. What's next for the stock? We take a look at earnings estimates for some clues. A month has gone by since the last earnings report for PTC Inc. (PTC). Shares have lost about 2% in that time frame, outperforming the S&P 500.Will the recent negative trend continue leading up to its next earnings release, or is PTC Inc. due for a breakout? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important catalysts.PTC’s Q2 Earnings Beat EstimatesPTC reported second-quarter fiscal 2022 non-GAAP earnings of $1.39 per share, up 28.7% on a year-over-year basis and beat the Zacks Consensus Estimate by 26.4%.Revenues came in at $505 million, up 9% year over year (up 13% at constant currency or cc). The top line beat the Zacks Consensus Estimate by 5.4%.The company witnessed robust demand for products (digital transformation and SaaS) across all segments and all regions. The company is also working toward accelerating the SaaS transition by increasing the capacity of its Atlas platform and improving the SaaS capabilities of its core products, among others, noted management.Driven by strong second-quarter performance, PTC raised guidance for fiscal 2022. Revenues for the fiscal are now projected in the range of $1.905-$1.975 billion (up 5-9% year over year) compared with the earlier guidance of $1.87-$1.975 billion,ARR is now expected to be $1.640-$1.665 billion, which indicates a rise of 12-13% year over year at cc. Earlier, ARR was expected to be $1.625-$1.66 billion.Top Line in DetailRecurring revenues of $452.7 million rose 9.1% year over year. Perpetual license soared 37.8% to $9.5 million.Revenues by License, Support and ServicesLicense revenues (43.2% of total revenues) were $218.3 million, up 10.3% from the year-ago quarter’s figure.Support and cloud services revenues (48.3%) of $243.8 million increased 9% year over year.Professional services revenues (8.5%) were $42.9 million, up 7.4% year over year.Revenues by Product GroupThe company has two new business units, Digital Thread and Velocity. Digital Thread includes products like Creo computer-aided design or CAD, Windchill PLM, Thingworx IoT and Vuforia AR. The Velocity unit comprises products like Onshape CAD and Arena PLM.Revenues from Digital Thread came in at $485 million, up 7% year over year. Revenues from the Velocity segment totaled $20 million, up 100%.Revenues from Digital Thread - Core came in at $355 million, up 10% from the prior-year quarter’s levels.Revenues from Digital Thread - Growth came in at $71 million, flat on a year-over-year basis.Revenues from Digital Thread - FSG (Focused Solutions Group) came in at $59 million, flat from the prior-year quarter’s levels.ARR PerformanceAnnualized recurring revenues (ARR) were $1.532 billion, up 11% year over year (up 13% at cc). The uptick was driven by the strong performance of Core and Growth divisions.ARR from Digital Thread - Core came in at $1.055 billion, up 10% year over year (up 13% at cc). Growth was driven by strength in PLM and CAD solutions.ARR from Digital Thread - Growth came in at $204 million, up 13% year over year (up 15% at cc). The upside can be attributed to strength in IoT offerings and higher Digital PerformanceManagement (DPM) deals.ARR from Digital Thread - FSG totaled $191 million, up 6% year over year (up 8% at cc) driven by higher customer demand.Velocity segment ARR came in at $83 million, up 27% (up 27% at cc) year over yearOperating DetailsNon-GAAP gross margin expanded 40 basis points (bps) on a year-over-year basis to 83.5%.Total operating expenses declined 6.6% year over year to $252.7 million.Operating income on a non-GAAP basis improved 24.3% year over year to $213.8 million.Operating margin on a non-GAAP basis expanded 510 bps on a year-over-year basis to 42.3% driven by strong top-line growth and expense management.Balance Sheet & Cash FlowAs of Mar 31, 2022, cash, cash equivalents and marketable securities were $307 million compared with $296.1 million as of Dec 31, 2021.Total debt, net of deferred issuance costs, was $1.26 billion as of Mar 31, 2022, compared with $1.4 billion as of Dec 31, 2021.Cash provided by operating activities came in at $142.3 million compared with the prior quarter’s figure of $138 million.Free cash flow was $140.2 million compared with $134 million reported in the previous quarter.In the quarter under review, the company repurchased shares worth $5 million, indicating the settlement of repurchases initiated in the previous quarter.Fiscal 2022 GuidanceNon-GAAP operating expenses are anticipated to increase in the range of 2-3%. The company expects costs to increase owing to hiring and higher investments in the SaaS business.For fiscal 2022, cash from operations is projected to be $430 million, indicating an increase of 17% on a year-over-year basis. Free cash flow is forecast to be $405 million, suggesting 18% growth. Adjusted free cash flow is expected to be $455 million, up 16% year over year.For the fiscal third quarter, PTC expects ARR to be between $1.580 and $1.595 billion. Cash from operations is projected to be $110 million and free cash flow is forecast to be $105 million. How Have Estimates Been Moving Since Then?It turns out, fresh estimates have trended upward during the past month.VGM ScoresCurrently, PTC Inc. has an average Growth Score of C, though it is lagging a bit on the Momentum Score front with a D. Following the exact same course, the stock was allocated a grade of D on the value side, putting it in the bottom 40% for this investment strategy.Overall, the stock has an aggregate VGM Score of D. If you aren't focused on one strategy, this score is the one you should be interested in.OutlookEstimates have been broadly trending upward for the stock, and the magnitude of these revisions looks promising. It comes with little surprise PTC Inc. has a Zacks Rank #2 (Buy). We expect an above average return from the stock in the next few months. Just Released: The Biggest Tech IPOs of 2022 For a limited time, Zacks is revealing the most anticipated tech IPOs expected to launch this year. Concerns about Federal interest rates and inflation caused many private companies to stay on the bench- leading to companies with better brand recognition and higher growth rates getting into the game. With the strength of our economy and record amounts of cash flooding into IPOs, you don’t want to miss this opportunity. See the complete list today.>>See Zacks Hottest IPOs NowWant 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 PTC Inc. (PTC): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research.....»»

Source:  zacksCategory: top~6 hr. 49 min. ago Related News

Wabtec (WAB) Down 3.1% Since Last Earnings Report: Can It Rebound?

Wabtec (WAB) reported earnings 30 days ago. What's next for the stock? We take a look at earnings estimates for some clues. A month has gone by since the last earnings report for Westinghouse Air Brake Technologies (WAB). Shares have lost about 3.1% in that time frame, outperforming the S&P 500.Will the recent negative trend continue leading up to its next earnings release, or is Wabtec due for a breakout? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important drivers.Wabtec’s Q1 Earnings Beat EstimatesWabtec's earnings (excluding 33 cents from non-recurring items) of $1.13 per share, falling short of the Zacks Consensus Estimate of $1.14. The bottom line improved 27% year over year, driven by a 1.4 percentage point margin expansion to 16.5% and 5.29% higher revenues to $1.927 million, despite supply-chain disruptions. The top line, however, fell short of the Zacks Consensus Estimate of $1,971.6 million.Total operating expenses in the reported quarter increased 4.1% year over year to $356 million, primarily due to an 18% increase in engineering costs and a 1.7% uptick in selling, general and administrative expenses. The operating ratio (operating expenses as a percentage of revenues) deteriorated 30 basis points from the year-ago quarter’s figure to 18.4%. During the quarter, WAB bought back 3.1 million shares for $296 million.Segmental HighlightsFreight net sales increased 11.7% to $1,322 million. Results were boosted by upbeat demand for Freight Services, components and equipment along with the acquisition of Nordco. Segmental operating margin (on an adjusted basis) increased to 19.6% from 18.1% in the year-ago quarter.At the transit segment, net sales declined 6.5% to $605 million due to supply-chain issues, COVID-related disruptions and an unfavorable foreign currency exchange. Segmental adjusted operating margin improved to 12.3% from 12.2%.Balance-Sheet DataAs of Mar 31, 2022, Wabtec had $488 million worth of cash and cash equivalents compared with $473 million at the end of 2021. WAB generated cash from operations of $161 million in the March quarter.Long-term debt at the end of the quarter was $4,225 million compared with $4,056 million at 2021end.2022 Guidance ReiteratedWabtec reaffirms sales in the range of $8.3-8.6 billion. Adjusted earnings per share are still estimated in the band of $4.65-$5.05. Wabtec continues to expect strong cash flow generation with operating cash flow conversion exceeding 90%.  How Have Estimates Been Moving Since Then?It turns out, estimates review have trended upward during the past month.VGM ScoresAt this time, Wabtec has a nice Growth Score of B, a grade with the same score on the momentum front. Charting a somewhat similar path, the stock was allocated a grade of C on the value side, putting it in the middle 20% for this investment strategy.Overall, the stock has an aggregate VGM Score of B. If you aren't focused on one strategy, this score is the one you should be interested in.OutlookEstimates have been broadly trending upward for the stock, and the magnitude of these revisions has been net zero. Notably, Wabtec has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months. Just Released: The Biggest Tech IPOs of 2022 For a limited time, Zacks is revealing the most anticipated tech IPOs expected to launch this year. Concerns about Federal interest rates and inflation caused many private companies to stay on the bench- leading to companies with better brand recognition and higher growth rates getting into the game. With the strength of our economy and record amounts of cash flooding into IPOs, you don’t want to miss this opportunity. See the complete list today.>>See Zacks Hottest IPOs NowWant 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 Westinghouse Air Brake Technologies Corporation (WAB): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research.....»»

Source:  zacksCategory: top~6 hr. 49 min. ago Related News

Why Is Tyler Technologies (TYL) Down 13% Since Last Earnings Report?

Tyler Technologies (TYL) reported earnings 30 days ago. What's next for the stock? We take a look at earnings estimates for some clues. It has been about a month since the last earnings report for Tyler Technologies (TYL). Shares have lost about 13% in that time frame, underperforming the S&P 500.Will the recent negative trend continue leading up to its next earnings release, or is Tyler Technologies due for a breakout? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important catalysts.Tyler’s Q1 Earnings & Revenues Beat Estimates, Up Y/YTyler Technologies reported first-quarter 2022 non-GAAP earnings of $1.90 per share, surpassing the Zacks Consensus Estimate of $1.77 per share. The bottom line also improved by 32.9% from $1.43 per share in the year-ago quarter.GAAP and non-GAAP revenues increased 54.7% year over year to $456.1 million from $294.8 million reported a year ago. The top line surpassed Zacks Consensus Estimate of $435.3 million.The robust year-over-year top-line growth was primarily driven by the post-acquisition contributions of NIC and the continuous recovery of market and sales activities to pre-pandemic levels. On an organic basis, non-GAAP revenues increased 12.8%.Quarterly DetailsTyler’s recurring revenues from maintenance and subscriptions increased 63.6% year over year to $362.5 million and accounted for 79.5% of the total quarterly revenues.TYL reported annualized recurring revenues on a non-GAAP basis of $1.45 billion, up 63.6% year over year. Subscription bookings in the first quarter added $6 million to annual recurring revenues.Segment-wise, maintenance revenues (accounting for 25.7% of total revenues) were $117 million, down from $119.1 million in the year-ago quarter.Subscription revenues (53.8% of total revenues) soared 139.5% year over year to $245.4 million.Software licenses and royalties (3.6% of total revenues) of $16.5 million increased 10.5% on a year-over-year basis.Software Services revenues (13.5% of total revenues) amounted to $61.5 million, up 29.1% from the year-ago quarter.Appraisal services revenues (1.9% of total revenues) rose 31.8% from the prior-year quarter to $8.5 million.Hardware and other revenues (1.3% of total revenues) jumped 70.5% from the year-ago quarter to $7.1 million.The backlog at the quarter-end was $1.76 billion, up 13.8% year over year.Bookings surged 70.1% year over year to $419 million due to the post-acquisition activities of NIC and the continuous rebound of market trends to pre-pandemic levels. Excluding NIC’s contributions, bookings increased 14.7% year over year. In the trailing 12 months, bookings increased 65% year over year to $1.9 billion. Excluding NIC contributions, bookings grew 21.7% to $1.4 billion.Operating DetailsTyler’s non-GAAP gross profit increased 35.1% year over year to $212.4 million. However, the non-GAAP gross margin contracted by 670 basis points (bps) to 46.6%.Adjusted EBITDA increased 39.2% year over year to $119.2 million.Non-GAAP operating income for the quarter totaled $110.8 million, up 40.5% year over year. However, the non-GAAP operating margin contracted by 250 bps to 24.3%.Balance Sheet & Other Financial DetailsAs of Mar 31, 2022, Tyler’s cash and cash equivalents were $243.3 million compared with $309.2 million on Dec 31, 2021.The company generated $53.5 million in cash from operational activities and $41 million of free cash flow.GuidanceBuoyed by the solid fourth-quarter performance, TYL raised its adjusted earnings guidance range for 2022 to the range of $7.48-$7.64 per share from the $7.41-$7.58 per share band projected earlier.The company also raised the lower end of the revenue guidance range. It now forecasts to generate GAAP and non-GAAP revenues in the range of $1.835-$1.870 billion, instead of the previous projection of the $1.83-$1.87 billion range. How Have Estimates Been Moving Since Then?In the past month, investors have witnessed an upward trend in estimates revision.VGM ScoresAt this time, Tyler Technologies has a great Growth Score of A, though it is lagging a lot on the Momentum Score front with an F. Charting a somewhat similar path, the stock was allocated a grade of D on the value side, putting it in the bottom 40% for this investment strategy.Overall, the stock has an aggregate VGM Score of C. If you aren't focused on one strategy, this score is the one you should be interested in.OutlookEstimates have been trending upward for the stock, and the magnitude of these revisions looks promising. It comes with little surprise Tyler Technologies has a Zacks Rank #2 (Buy). We expect an above average return from the stock in the next few months. Just Released: The Biggest Tech IPOs of 2022 For a limited time, Zacks is revealing the most anticipated tech IPOs expected to launch this year. Concerns about Federal interest rates and inflation caused many private companies to stay on the bench- leading to companies with better brand recognition and higher growth rates getting into the game. With the strength of our economy and record amounts of cash flooding into IPOs, you don’t want to miss this opportunity. See the complete list today.>>See Zacks Hottest IPOs NowWant 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 Tyler Technologies, Inc. (TYL): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research.....»»

Source:  zacksCategory: top~6 hr. 49 min. ago Related News

Why Is Annaly (NLY) Down 1.8% Since Last Earnings Report?

Annaly (NLY) reported earnings 30 days ago. What's next for the stock? We take a look at earnings estimates for some clues. It has been about a month since the last earnings report for Annaly Capital Management (NLY). Shares have lost about 1.8% in that time frame, outperforming the S&P 500.Will the recent negative trend continue leading up to its next earnings release, or is Annaly due for a breakout? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important catalysts.Annaly Q1 Earnings Top Estimates, NII & Book Value SlideAnnaly reported first-quarter 2022 earnings available for distribution (EAD) per share of 28 cents, which surpassed the Zacks Consensus Estimate of 23 cents. The figure, however, compared unfavorably with the year-ago quarter’s 29 cents.Annaly registered a year-over-year decline in book value per share (BVPS) and the average yield on interest-earning assets.The NII was $580.9 million, surpassing the Zacks Consensus Estimate of $341 million. The figure declined 15.5% year over year.Inside the HeadlinesAt the first-quarter end, Annaly had $84.4 billion of total assets, with $76.1 billion invested in the Agency portfolio. At the end of the quarter, unencumbered assets stood at $7.2 billion.In the reported quarter, the average yield on interest-earning assets (excluding premium amortization adjustment or PAA) was 2.62%, down from the prior-year quarter’s 2.71%. Average economic costs of interest-bearing liabilities were 0.89%, increasing from 0.87%.Net interest spread (excluding PAA) of 1.73% for the first quarter fell from 1.84% in the prior-year quarter. Nonetheless, the net interest margin (excluding PAA) in the reported quarter was 2.04% compared with 1.91% witnessed in first-quarter 2021.Annaly’s BVPS was $6.77 as of Mar 31, 2022, sequentially down from $7.97. Moreover, BVPS compared unfavorably with $8.95 as of Mar 31, 2021. At the end of the reported quarter, Annaly’s economic capital ratio was 13.1%, declining from 13.7% in the prior-year quarter.For the March-end quarter, the weighted average actual constant prepayment rate was 16.7%, sequentially down from 21.4%.Economic leverage was 6.4X as of Mar 31, 2022, up from 5.7X (sequentially) and 6.1X in the prior-year quarter. Annaly generated an annualized EAD return on average equity (excluding PAA) of 14.01% in the first quarter, up from the prior-year quarter’s 12.53%. How Have Estimates Been Moving Since Then?It turns out, estimates review have trended upward during the past month.The consensus estimate has shifted 11.11% due to these changes.VGM ScoresCurrently, Annaly has an average Growth Score of C, however its Momentum Score is doing a lot better with an A. Following the exact same course, the stock was allocated a grade of A on the value side, putting it in the top quintile for this investment strategy.Overall, the stock has an aggregate VGM Score of A. If you aren't focused on one strategy, this score is the one you should be interested in.OutlookEstimates have been trending upward for the stock, and the magnitude of this revision looks promising. Notably, Annaly has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months. Just Released: The Biggest Tech IPOs of 2022 For a limited time, Zacks is revealing the most anticipated tech IPOs expected to launch this year. Concerns about Federal interest rates and inflation caused many private companies to stay on the bench- leading to companies with better brand recognition and higher growth rates getting into the game. With the strength of our economy and record amounts of cash flooding into IPOs, you don’t want to miss this opportunity. See the complete list today.>>See Zacks Hottest IPOs NowWant 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 Annaly Capital Management Inc (NLY): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research.....»»

Source:  zacksCategory: top~6 hr. 49 min. ago Related News

Why Is Hologic (HOLX) Up 6.7% Since Last Earnings Report?

Hologic (HOLX) reported earnings 30 days ago. What's next for the stock? We take a look at earnings estimates for some clues. It has been about a month since the last earnings report for Hologic (HOLX). Shares have added about 6.7% in that time frame, outperforming the S&P 500.Will the recent positive trend continue leading up to its next earnings release, or is Hologic due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important catalysts.Hologic Q2 Earnings Surpass Estimates, 2022 View UpHologic reported second-quarter fiscal 2022 adjusted earnings per share of $2.07, down 20.1% year over year. However, the bottom line surpassed the Zacks Consensus Estimate by 33.6%.The adjustments include charges and benefits related to the amortization of acquired intangible assets, MDR expenses, and restructuring and integration/consolidation costs, to name a few.The company’s GAAP earnings per share was $1.80 in the quarter compared with the year-ago EPS of $2.38, reflecting a 24.4% decline.Revenues in DetailRevenues grossed $1.44 billion in the reported quarter, down 6.6% year over year (down 5.2% at constant exchange rate or CER). However, the metric surpassed the Zacks Consensus Estimate by 12.6%.Excluding revenues from COVID-19, organic revenues declined 1.6% at CER.U.S. revenues of $992.4 million declined 6.7%, whereas international revenues of $443.3 million dropped 6.4% year over year or 1.8% at CER.Organically, revenues in the United States declined 8% year over year to $963.2 million in the quarter. International revenues decreased 8.6% year over year (down 3.9% at CER) to $430.6 million.Segments in DetailRevenues at the Diagnostics segment declined 7.3% year over year (down 5.6% at CER) to $987.1 million in the quarter under review. Cytology & Perinatal revenues of $115.4 million fell 0.1% at CER. Molecular Diagnostics’ revenues of $862.5 million declined 6.1% at CER. Blood Screening revenues of $9.2 million fell 23.3% year over year at CER.Revenues in the Breast Health segment fell 7.7% from the year-ago period (down 6.8% at CER) to $310.4 million. This primarily resulted from the semiconductor chip shortage.Domestic sales in this segment fell 5.3% year over year. Further, outside the United States, Breast Health sales declined 11.2% at CER.Revenues at the GYN Surgical business rose 2.7% year over year (up 3.5% at CER) to $117.3 million, while revenues at Skeletal Health declined 7.5% year over year (down 6.2% at CER) to $20.9 million.Operational UpdateIn the fiscal second quarter, the company-provided adjusted gross margin contracted 400 basis points (bps) to 71%. According to the company, the decrease in gross margin was primarily due to a decline in COVID-19 assay sales compared to the prior-year period.Adjusted operating expenses, as stated by the company, amounted to $338.2 million, up 21.8% year over year. The company reported adjusted operating margin contraction of 950 bps to 47.4%.Financial UpdateHologic ended the second quarter of fiscal 2022 with cash and cash equivalents of $2.29 billion compared with $1.42 billion at the end of the first quarter of 2021. Total long-term debt (including current portion) was $3.07 billion at the end of the second quarter of fiscal 2022 compared with $3.07 billion at the end of the first quarter of 2022.Net cash provided by operating activities at the end of second-quarter fiscal 2022 was $1.63 billion compared with $1.20 billion a year ago.GuidanceHologic has issued the guidance for the third quarter of fiscal 2022.For third-quarter fiscal 2022, the company projects revenues within $875-$915 million, implying a year-over-year decline in the range of 25.1-21.7% on a reported basis, 23.4-19.9% at CER and 23.6-20.1% organically. The Zacks Consensus Estimate for second-quarter fiscal 2022 revenues is pegged at $884.8 million.Adjusted earnings per share for the quarter is estimated within 67-72 cents, with a projected decline of 49.6-45.9% year over year. The Zacks Consensus Estimate for first-quarter fiscal 2022 earnings per share is pegged at 72 cents.Hologic has raised the financial guidance for full-year 2022.For fiscal 2022, the company now projects revenues within $4.60-4.70 billion, implying a year-over-year decline in the range of 18.3-16.6% on a reported basis, 17.2-15.4% at CER and 18.3-16.5% organically (previous guided range was $4.40-4.55 billion). The Zacks Consensus Estimate for fiscal 2022 revenues is pegged at $4.39 billion.Adjusted earnings per share for fiscal 2022 is estimated within $5.45-$5.65, with a projected decline of 35.2-32.8% year over year (previous guided range was $4.90-5.20). The Zacks Consensus Estimate for fiscal 2022 earnings per share is pegged at $5.10. How Have Estimates Been Moving Since Then?In the past month, investors have witnessed a downward trend in estimates review.VGM ScoresAt this time, Hologic has a great Growth Score of A, though it is lagging a bit on the Momentum Score front with a B. Charting a somewhat similar path, the stock was allocated a grade of A on the value side, putting it in the top quintile for this investment strategy.Overall, the stock has an aggregate VGM Score of A. If you aren't focused on one strategy, this score is the one you should be interested in.OutlookEstimates have been broadly trending downward for the stock, and the magnitude of these revisions indicates a downward shift. Notably, Hologic has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months. Just Released: The Biggest Tech IPOs of 2022 For a limited time, Zacks is revealing the most anticipated tech IPOs expected to launch this year. Concerns about Federal interest rates and inflation caused many private companies to stay on the bench- leading to companies with better brand recognition and higher growth rates getting into the game. With the strength of our economy and record amounts of cash flooding into IPOs, you don’t want to miss this opportunity. See the complete list today.>>See Zacks Hottest IPOs NowWant 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 Hologic, Inc. (HOLX): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research.....»»

Source:  zacksCategory: top~6 hr. 49 min. ago Related News

NETGEAR, Inc. (NTGR) Down 13.9% Since Last Earnings Report: Can It Rebound?

NETGEAR, Inc. (NTGR) reported earnings 30 days ago. What's next for the stock? We take a look at earnings estimates for some clues. It has been about a month since the last earnings report for NETGEAR, Inc. (NTGR). Shares have lost about 13.9% in that time frame, underperforming the S&P 500.Will the recent negative trend continue leading up to its next earnings release, or is NETGEAR, Inc. due for a breakout? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important catalysts.NETGEAR’s Q1 Earnings Miss EstimatesNETGEAR reported dismal first-quarter 2022 results, with earnings and revenues declining on a year-over-year basis. Further, the bottom and top lines missed the Zacks Consensus Estimate.The company reported a non-GAAP loss of 28 cents per share against non-GAAP earnings of 99 cents recorded in the year-ago quarter. The Zacks Consensus Estimate was pegged at earnings of 10 cents per share.NETGEAR generated net revenues of $210.6 million, down 33.8% year over year. The top line lagged the consensus mark of $224 million. The downtick resulted from the weakness in the Connected Home or CHP segment. The U.S. consumer Wi-Fi market, which rose nearly 15% (above pre-pandemic level) has performed tepidly in the quarter under review. In the first quarter, the market ended approximately flat to 2019 levels, added NETGEAR. This led to a decline in the company’s revenues from the CHP segment.Due to continued supply-chain issues amid the pandemic and a Shenzhen shutdown briefly interrupted component supplies to factories in Southeast Asia. This negatively impacted revenues from Small and Medium Business or SMB segment revenues. In absence of such factors, SMB revenues would have been higher by 5-7% in the first quarter, added NETGEAR.Region-wise, net revenues from the Americas were $144.6 million (68% of net revenues), down 34% year over year. EMEA (Europe, Middle East and Africa) revenues (18%) were $36.9 million, down 39.7%. APAC (the Asia Pacific Region) revenues (14%) were down 22.9% to $29 million.The number of registered app users in the reported quarter was 14.2 million. NETGEAR ended the quarter with 627,000 paid subscribers, marking year-over-year growth of 30.4%.The company remains confident of tapping 750,000 paid subscribers by the end of 2022.Segmental PerformanceConnected Home (including Nighthawk, Orbi, Nighthawk Pro Gaming and Meural brands) delivered revenues of $130.3 million, down 45.9% year over year. The downtick was due to softness in the retail and service provider businesses which had witnessed pandemic-led elevated consumer demand in the prior-year period. However, the segment witnessed strong demand for premium Wi-Fi mesh systems.NETGEAR holds about 44% share in the U.S. retail Wi-Fi market, including mesh, routers, gateways and extenders.Driven by the strong demand for managed switched products, revenues from SMB rose 4.2% year over year to $80.2 million. Amid the supply constraints, the segment showcased strong operational execution on the back of the growing demand for a flexible working environment and business formations.Robust demand for Wi-Fi 6 cloud-managed mesh wireless access points coupled with ProAV switching strength, drove the momentum. The company holds about 55% share in U.S. retail switch market.Other DetailsThe adjusted gross margin decreased to 28.2% from 35.2% due to lower revenues. Non-GAAP operating margin was (4.4%) against 13.3% in the year-ago quarter.Cash Flow & LiquidityIn the first quarter, NETGEAR generated $1.3 million of cash from operations. As of Apr 3, 2022, the company had $206 million in cash and cash equivalents, and $317.5 million of total current liabilities compared with $263 million and $341 million, respectively, in the quarter ended Dec 31, 2021.The company repurchased nearly 354,000 shares at an average price of $26.50 per share for $9.4 million in the first quarter of 2022.Q2 OutlookFor the second quarter of 2022, NETGEAR anticipates net revenues of $205-$220 million.Owing to the lost leverage from the top line along with increasing freight costs, higher component costs and numerous disruptions on the logistics front, the GAAP operating margin is estimated to be between (6.5)% and (5.5)%.The non-GAAP operating margin is expected between (4)% and (3)%. The company remains optimistic that sea transportation costs will reduce with SMB supply improving in the second half of 2022, thereby creating a favorable environment for top and bottom lines. How Have Estimates Been Moving Since Then?It turns out, estimates revision have trended downward during the past month.The consensus estimate has shifted -436.36% due to these changes.VGM ScoresCurrently, NETGEAR, Inc. has a poor Growth Score of F, however its Momentum Score is doing a bit better with a D. Charting a somewhat similar path, the stock was allocated a grade of C on the value side, putting it in the middle 20% for this investment strategy.Overall, the stock has an aggregate VGM Score of D. If you aren't focused on one strategy, this score is the one you should be interested in.OutlookEstimates have been broadly trending downward for the stock, and the magnitude of these revisions indicates a downward shift. It's no surprise NETGEAR, Inc. has a Zacks Rank #5 (Strong Sell). We expect a below average return from the stock in the next few months. Just Released: The Biggest Tech IPOs of 2022 For a limited time, Zacks is revealing the most anticipated tech IPOs expected to launch this year. Concerns about Federal interest rates and inflation caused many private companies to stay on the bench- leading to companies with better brand recognition and higher growth rates getting into the game. With the strength of our economy and record amounts of cash flooding into IPOs, you don’t want to miss this opportunity. See the complete list today.>>See Zacks Hottest IPOs NowWant 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 NETGEAR, Inc. (NTGR): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research.....»»

Source:  zacksCategory: top~6 hr. 49 min. ago Related News

Why Is Amphenol (APH) Down 4.9% Since Last Earnings Report?

Amphenol (APH) reported earnings 30 days ago. What's next for the stock? We take a look at earnings estimates for some clues. A month has gone by since the last earnings report for Amphenol (APH). Shares have lost about 4.9% in that time frame, outperforming the S&P 500.Will the recent negative trend continue leading up to its next earnings release, or is Amphenol due for a breakout? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important catalysts.Amphenol Q1 Earnings Beat Estimates, Revenues Rise Y/YAmphenol’s first-quarter 2022 adjusted earnings of 67 cents per share beat the Zacks Consensus Estimate by 9.84%. The figure increased 28.8% year over year.Net sales increased 24.2% year over year to $2.95 billion and beat the consensus mark by 7.8%. Organically, net sales increased 17%.The top line benefited from robust growth across all end markets and benefits from the acquisition program.Amphenol shares were up 0.29% following the results. Shares are down 21.6% year to date, outperforming the Zacks Computer & Technology sector’s plunge of 23.2%.Quarterly DetailsHarsh Environment solutions (24.6% of net sales) sales were up 15.9% from the year-ago quarter to $727.6 million.Communications Solutions (44.7% of net sales) sales were $1.32 billion, up 28.4% year over year.Interconnect and Sensor Systems Solutions (30.6% of net sales) sales were $904.2 million, up 25.4% year over year.Gross margin, on a GAAP basis, expanded 80 basis points (bps) year over year to 31.4%.Selling, general and administrative expenses (SG&A), as a percentage of revenues, increased 40 bps on a year-over-year basis to 11.4%.Adjusted operating margin expanded 40 bps on a year-over-year basis to 20%.Balance SheetAs of Mar 31, 2022, Amphenol had cash and cash equivalents worth $1.30 billion, higher than $1.24 billion as of Dec 31, 2021.Total debt was $4.93 billion as of Mar 31, 2022 compared with $4.80 billion as of Dec 31, 2021.During the quarter, the company purchased 2.1 million shares for $171 million. Amphenol also paid dividends of $87 million.GuidanceAmphenol expects second-quarter 2022 earnings between 66 cents and 68 cents per share, indicating 8% to 11% year-over-year growth. Revenues are anticipated between $2.890 billion and $2.950 billion, indicating 9-11% year-over-year growth.The Zacks Consensus Estimate for second-quarter earnings is pegged at 65 cents per share, implying 6.56% growth from the figure reported in the year-ago quarter. The consensus mark for revenues stands at $2.87 billion, suggesting 7.96% growth from the year-ago quarter’s reported figure. How Have Estimates Been Moving Since Then?In the past month, investors have witnessed an upward trend in estimates review.VGM ScoresCurrently, Amphenol has a nice Growth Score of B, though it is lagging a bit on the Momentum Score front with a C. Following the exact same course, the stock was allocated a grade of C on the value side, putting it in the middle 20% for this investment strategy.Overall, the stock has an aggregate VGM Score of C. If you aren't focused on one strategy, this score is the one you should be interested in.OutlookEstimates have been trending upward for the stock, and the magnitude of these revisions looks promising. Notably, Amphenol has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months. Just Released: The Biggest Tech IPOs of 2022 For a limited time, Zacks is revealing the most anticipated tech IPOs expected to launch this year. Concerns about Federal interest rates and inflation caused many private companies to stay on the bench- leading to companies with better brand recognition and higher growth rates getting into the game. With the strength of our economy and record amounts of cash flooding into IPOs, you don’t want to miss this opportunity. See the complete list today.>>See Zacks Hottest IPOs NowWant 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 Amphenol Corporation (APH): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research.....»»

Source:  zacksCategory: top~6 hr. 49 min. ago Related News

Amerisafe (AMSF) Up 2.8% Since Last Earnings Report: Can It Continue?

Amerisafe (AMSF) reported earnings 30 days ago. What's next for the stock? We take a look at earnings estimates for some clues. It has been about a month since the last earnings report for Amerisafe (AMSF). Shares have added about 2.8% in that time frame, outperforming the S&P 500.Will the recent positive trend continue leading up to its next earnings release, or is Amerisafe due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important catalysts.AMERISAFE's Q1 Earnings Beat on Lower CostsAMERISAFE reported first-quarter 2022 earnings per share of 82 cents, which outpaced the Zacks Consensus Estimate by 34.4%. The bottom line improved nearly 8% year over year. The company's results were driven by reduced expenses and better underwriting profits. However, the upside was partly offset by a year-over-year decline in revenues coupled with a lower fee and other income.Q1 UpdateOperating revenues of AMERISAFE were $74 million, which slipped 5.1% year over year due to a 4.5% and 7.1% decline in net premiums earned and net investment income, respectively. However, the top line beat the consensus mark by 2.5%.Net premiums earned declined 4.5% year over year to $67.6 in the first quarter. Meanwhile, net investment income of $6.1 million tumbled 7.1% year over year due to reduced investment yields on fixed-income securities. Fee and other income plunged 41.1% year over year.AMERISAFE reported a pre-tax underwriting profit of $13.5 million in the first quarter, which climbed 23.8% year over year.Total expenses decreased 9.4% year over year to $54.1 million on account of lower loss and loss adjustment expenses incurred coupled with reduced underwriting and other operating costs.Net combined ratio of 80.1% improved 450 basis points (bps) year over year in the quarter under review.Financial Update (as of Mar 31, 2022)Cash and cash equivalents of AMERISAFE amounted to $30.7 million, which plunged 56.5% from the figure at the 2021-end.Total assets of $1.4 billion dipped 0.8% from the 2021-end level.Shareholders' equity slipped 1% from the 2021-end figure to $395.3 million.Net cash provided by operating activities totaled $7.1 million, down 57.1% year over year.Book value per share of $20.46 declined 11.7% year over year. Return on average equity came in at 17.4% for the first quarter.Share Repurchases and Dividend UpdateAMERISAFE bought back shares worth $2.1 million in the first quarter. As of Apr 25, 2022, it had $22.9 million left under the authorized share buyback program.On Apr 26, 2022, its board of directors approved a quarterly cash dividend of 31 cents per share. The dividend will be paid on Jun 24, 2022, to shareholders of record as of Jun 17.Net Investment Income Outlook UnveiledManagement disclosed its view of net investment income, which witnessed a plunge in the first quarter of 2022 but fared little higher than the third and fourth quarters of 2021. The metric is likely to continue to suffer in the second quarter of 2022. Ushering in hope, management anticipates improvement in net investment income growth during the third and fourth quarter of 2022. How Have Estimates Been Moving Since Then?It turns out, estimates review have trended downward during the past month.VGM ScoresAt this time, Amerisafe has an average Growth Score of C, however its Momentum Score is doing a bit better with a B. Charting a somewhat similar path, the stock was allocated a grade of C on the value side, putting it in the middle 20% for this investment strategy.Overall, the stock has an aggregate VGM Score of C. If you aren't focused on one strategy, this score is the one you should be interested in.OutlookEstimates have been broadly trending downward for the stock, and the magnitude of this revision indicates a downward shift. Notably, Amerisafe has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months. Just Released: The Biggest Tech IPOs of 2022 For a limited time, Zacks is revealing the most anticipated tech IPOs expected to launch this year. Concerns about Federal interest rates and inflation caused many private companies to stay on the bench- leading to companies with better brand recognition and higher growth rates getting into the game. With the strength of our economy and record amounts of cash flooding into IPOs, you don’t want to miss this opportunity. See the complete list today.>>See Zacks Hottest IPOs NowWant 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 AMERISAFE, Inc. (AMSF): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research.....»»

Source:  zacksCategory: top~6 hr. 49 min. ago Related News

FormFactor (FORM) Up 2.9% Since Last Earnings Report: Can It Continue?

FormFactor (FORM) reported earnings 30 days ago. What's next for the stock? We take a look at earnings estimates for some clues. It has been about a month since the last earnings report for FormFactor (FORM). Shares have added about 2.9% in that time frame, outperforming the S&P 500.Will the recent positive trend continue leading up to its next earnings release, or is FormFactor due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important catalysts.FormFactor Q1 Earnings Beat, Revenues Increase Y/YFormFactor reported first-quarter 2022 adjusted earnings of 49 cents per share, which surpassed the Zacks Consensus Estimate by 25.6%. Also, the bottom line increased 11.4% on a sequential basis and 28.9% year over year.Revenues increased 5.7% year over year to $197.2 million. Further, the figure surpassed the Zacks Consensus Estimate by 1.5%.The year-over-year growth in the top line was driven by strong demand for Foundry & Logic and Systems.Yet, revenues decreased 3.8% from the previous quarter owing to weak demand for DRAM and Flash products.Segments in DetailProbe card: Revenues from this segment were $159.98 million for the first quarter, up 0.7% year over year but down 3.6% sequentially.Foundry & Logic (accounting for 57.9% of revenues) revenues were $114.1 million, up 0.6% year over year and 0.1% sequentially.Revenues for DRAM products (17.5% of revenues) were $34.5 million, reflecting an increase of 1.8% year over year but a decrease of 14.4% from the previous quarter.Flash revenues (5.8% of revenues) were $11.4 million, down 1.72% from the year-ago period and fourth-quarter 2021.Systems: Revenues from this segment were $37.2 million (18.9% of revenues), up 34.3% year over year but down 4.9% sequentially.Regional DetailsRevenues generated from Taiwan (accounting for 27% of revenues), South Korea (14%), Malaysia (11%) and Japan (5%) were $53.1 million, $27.5 million, $25.6 million, $22.2 million and $9.4 million, respectively. The respective revenues increased 16.4%, 44%, 158.1% and 1.1% year over year.Then again, revenues generated from China (19%), the United States (13%), Singapore (6%), Europe (4%) and the Rest of World (1%) were $38.4 million, $25.6 million, $10.9 million, $8.4 million and $1.7 million, respectively. The respective revenues were down 9.9%, 13.2%, 45.2%, 16% and 15% from the year-ago period.Operating ResultsOn a non-GAAP basis, gross margin expanded 4 basis points (bps) year over year to 49%. Also, the Probe card segment’s gross margin was 48.3%, expanding 4 bps year over year. The Systems segment’s gross margin was 49%, contracting 320 bps year over year.Non-GAAP operating expenses increased 11.7% year over year to $51.9 million. As a percentage of total first-quarter revenues, the metric expanded 142 bps year over year to 26.3%.Non-GAAP operating income was $44.7 million, up 19% year over year. As a percentage of revenues, it expanded 255 bps year over year to 22.7%.Balance Sheet & Cash FlowAs of Mar 26, 2022, cash & cash equivalents and marketable securities were $296.4 million compared with $276.1 million on Dec 25, 2021.Further, cash generated from operating activities was $44.2 million for the reported quarter, up from $38.9 million in the previous quarter.Capital expenditure was $15.6 million, up from $15.1 million in the fourth quarter of 2021.Further, free cash flow was $28.7 million for the reported quarter, up from $23.9 million in the previous quarter.GuidanceFormFactor expects second-quarter 2022 revenues of $203 million (+/- $6 million).Further, management expects non-GAAP gross margin of 47% (+/- 1.5%).On a non-GAAP basis, it projects earnings of 43 cents (+/- 4 cents) per share. How Have Estimates Been Moving Since Then?In the past month, investors have witnessed an upward trend in estimates revision.VGM ScoresAt this time, FormFactor has a strong Growth Score of A, a grade with the same score on the momentum front. However, the stock was allocated a grade of C on the value side, putting it in the middle 20% for this investment strategy.Overall, the stock has an aggregate VGM Score of B. If you aren't focused on one strategy, this score is the one you should be interested in.OutlookEstimates have been trending upward for the stock, and the magnitude of these revisions has been net zero. Notably, FormFactor has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months. Just Released: The Biggest Tech IPOs of 2022 For a limited time, Zacks is revealing the most anticipated tech IPOs expected to launch this year. Concerns about Federal interest rates and inflation caused many private companies to stay on the bench- leading to companies with better brand recognition and higher growth rates getting into the game. With the strength of our economy and record amounts of cash flooding into IPOs, you don’t want to miss this opportunity. See the complete list today.>>See Zacks Hottest IPOs NowWant 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 FormFactor, Inc. (FORM): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research.....»»

Source:  zacksCategory: top~6 hr. 49 min. ago Related News

Why Is American Water Works (AWK) Down 7.4% Since Last Earnings Report?

American Water Works (AWK) reported earnings 30 days ago. What's next for the stock? We take a look at earnings estimates for some clues. A month has gone by since the last earnings report for American Water Works (AWK). Shares have lost about 7.4% in that time frame, underperforming the S&P 500.Will the recent negative trend continue leading up to its next earnings release, or is American Water Works due for a breakout? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important drivers.American Water’s Q1 Earnings Beat Estimates, Revenues LagAmerican Water Works Company posted first-quarter 2022 operating earnings per share (EPS) of 87 cents, which surpassed the Zacks Consensus Estimate of 75 cents by 16%. The bottom line improved by 19.2% from the year-ago earnings of 73 cents per share.Total RevenuesTotal revenues of $842 million lagged the Zacks Consensus Estimate of $872 million by 3.4%. The top line also declined by 5.2% from the year-ago figure of $888 million.Highlights of the ReleaseTotal operating expenses for the first quarter amounted to $596 million, down 10.8% from the year-ago quarter’s $659 million, due to a decrease in the operating and maintenance expenses.Operating income was $242 million, up 5.7% from the year-ago figure of $229 million. The new rates effective since Jan 1, 2022 will boost annual revenues by $79 million and the pending rate case, if approved without any change, will further increase the top line by $220 million.American Water Works continues to expand operations through acquisitions and organic means. As of Mar 31, 2022, it added 1,800 customers to its customer base through four closed acquisitions in two states. AWK’s pending acquisitions (as of Mar 31), when completed, will add another 77,300 customers through 32 acquisitions. American Water Works added nearly 5,500 customers year to date from the closed acquisitions.American Water Works invested $437 million, including $430 million for infrastructure improvements, in Regulated businesses for the first three months of 2022.Segment DetailsRegulated businesses’ net income in the first quarter of 2022 was $160 million compared with $135 million in the year-ago quarter.Market-Based businesses reported a net loss of $2 million in the first quarter of 2022 and 2021.Financial HighlightsCash and cash equivalents amounted to $75 million as of Mar 31, 2022, down 35.3% from $116 million as of Dec 31, 2021.The total long-term debt was $10,350 million as of Mar 31, 2022, up 0.1% from $10,344 million as of Dec 31, 2021.GuidanceAmerican Water Works affirmed the 2022 earnings guidance in the range of $4.39-$4.49 per share. The Zacks Consensus Estimate for 2022 earnings of $4.46 per share is higher than $4.44, the midpoint of the guided range. AWK reiterated the long-term earnings growth in the range of 7-9% for the 2022-2026 period. How Have Estimates Been Moving Since Then?It turns out, estimates revision have trended downward during the past month.VGM ScoresCurrently, American Water Works has a subpar Growth Score of D, however its Momentum Score is doing a bit better with a C. Charting a somewhat similar path, the stock was allocated a grade of D on the value side, putting it in the bottom 40% for this investment strategy.Overall, the stock has an aggregate VGM Score of D. If you aren't focused on one strategy, this score is the one you should be interested in.OutlookEstimates have been broadly trending downward for the stock, and the magnitude of these revisions indicates a downward shift. Notably, American Water Works has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months. Just Released: The Biggest Tech IPOs of 2022 For a limited time, Zacks is revealing the most anticipated tech IPOs expected to launch this year. Concerns about Federal interest rates and inflation caused many private companies to stay on the bench- leading to companies with better brand recognition and higher growth rates getting into the game. With the strength of our economy and record amounts of cash flooding into IPOs, you don’t want to miss this opportunity. See the complete list today.>>See Zacks Hottest IPOs NowWant 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 American Water Works Company, Inc. (AWK): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research.....»»

Source:  zacksCategory: top~6 hr. 49 min. ago Related News

Why Is IQVIA (IQV) Down 5.3% Since Last Earnings Report?

IQVIA (IQV) reported earnings 30 days ago. What's next for the stock? We take a look at earnings estimates for some clues. A month has gone by since the last earnings report for IQVIA Holdings (IQV). Shares have lost about 5.3% in that time frame, outperforming the S&P 500.Will the recent negative trend continue leading up to its next earnings release, or is IQVIA due for a breakout? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important catalysts.IQVIA Surpasses Q1 Earnings & Revenues EstimatesIQVIA reported solid first-quarter 2022 results, wherein the company’s earnings as well as revenues surpassed the Zacks Consensus Estimate.Adjusted earnings per share of $2.47 beat the consensus mark by 1.7% and improved 13.3% on a year-over-year basis. The reported figure exceeded the guided range of $2.40-$2.46. Total revenues of $3.57 billion outpaced the consensus estimate by 0.5% and increased 4.7% year over year on a reported basis and 6.8% on a constant-currency basis. The reported figure lies within the guided range of $3.515-$3.575 billion.Quarter DetailsRevenues from Technology & Analytics Solutions totaled $1.44 billion, up 6.8% on a reported basis and 9.8% on a constant-currency basis. Research & Development Solutions’ revenues of $1.93 billion increased 3.5% on a reported basis and 4.7% on a constant-currency basis. Revenues from Contract Sales & Medical Solutions totaled $195 million, up 1% on a reported basis and 5.7% on a constant-currency basis. Adjusted EBITDA was $812 million, up 9.1% year over year.Balance Sheet and Cash FlowIQVIA exited first-quarter 2022 with cash and cash equivalents balance of $1.39 billion compared with $1.37 billion at the end of the prior quarter. Long-term debt was $12.5 billion compared with $12 billion at the end of the prior quarter. The company generated $508 million of cash from operating activities in the reported quarter and CapEx was $177 million. Free cash flow was $331 million. During the reported quarter, IQVIA repurchased shares worth $403 million. As of Mar 31, 2022, the company had nearly $2.12 million of its share-buyback authorization remaining.Second-Quarter 2022 GuidanceIQVIA expects second-quarter revenues in the range of $3.47-$3.52 billion. Adjusted earnings per share are expected between $2.35 and $2.42. Adjusted EBITDA is anticipated between $790 million and $805 million.2022 GuidanceFor the full year, IQVIA has updated its revenue guidance while reaffirming the same for adjusted earnings per share and adjusted EBITDA. The company now expects revenues between $14.45 billion and $14.75 billion compared with the prior guidance of $14.7-$15 billion. Adjusted earnings per share are expected between $9.95 and $10.25. Adjusted EBITDA is anticipated between $3.330 billion and $3.405 billion. How Have Estimates Been Moving Since Then?It turns out, fresh estimates have trended downward during the past month.VGM ScoresAt this time, IQVIA has a strong Growth Score of A, though it is lagging a lot on the Momentum Score front with a D. However, the stock was allocated a grade of B on the value side, putting it in the second quintile for this investment strategy.Overall, the stock has an aggregate VGM Score of A. If you aren't focused on one strategy, this score is the one you should be interested in.OutlookEstimates have been broadly trending downward for the stock, and the magnitude of these revisions indicates a downward shift. Notably, IQVIA has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months. Just Released: The Biggest Tech IPOs of 2022 For a limited time, Zacks is revealing the most anticipated tech IPOs expected to launch this year. Concerns about Federal interest rates and inflation caused many private companies to stay on the bench- leading to companies with better brand recognition and higher growth rates getting into the game. With the strength of our economy and record amounts of cash flooding into IPOs, you don’t want to miss this opportunity. See the complete list today.>>See Zacks Hottest IPOs NowWant 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 IQVIA Holdings Inc. (IQV): Free Stock Analysis Report To read this article on Zacks.com click here......»»

Source:  zacksCategory: top~6 hr. 49 min. ago Related News

Why Is ServiceNow (NOW) Down 9.8% Since Last Earnings Report?

ServiceNow (NOW) reported earnings 30 days ago. What's next for the stock? We take a look at earnings estimates for some clues. A month has gone by since the last earnings report for ServiceNow (NOW). Shares have lost about 9.8% in that time frame, underperforming the S&P 500.Will the recent negative trend continue leading up to its next earnings release, or is ServiceNow due for a breakout? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important drivers.ServiceNow Q1 Earnings & Revenues Surpass EstimatesServiceNow reported first-quarter 2022 adjusted earnings of $1.73 per share, which beat the Zacks Consensus Estimate by 2.37% and improved 13.8% year over year.Revenues of $1.72 billion surpassed the consensus mark by 1.71% and increased 26.6% year over year. After adjusting for forex, revenues of $1.76 billion surged 29% year over year.Subscription revenues improved 26% year over year to $1.63 billion. After adjusting for forex, subscription revenues increased 29% year over year to $1.67 billion.Professional services and other revenues increased 36% year over year to $91 million. After adjusting for forex, professional services and other revenues jumped 39% on a year-over-year basis to $93 million.ServiceNow has been benefiting from the rising adoption of its workflows by enterprises undergoing digital transformation. The company now has 1,401 total customers with more than $1 million in annual contract value, representing 24% year-over-year growth in customers.Renewal rate was 98% in the reported quarter compared with 97% reported in the year-ago quarter.During the reported quarter, ServiceNow closed 52 transactions with more than $1 million in net new annual contract value, representing 41% year-over-year growth.As of Mar 31, 2022, current remaining performance obligations (“RPO”) of $5.69 billion up 29% year-over-year. On a constant currency basis, current RPO increased 30.5%.RPO, on a constant currency basis, rose 31.5% year over year to $11.6 billion.Operating DetailsIn the first quarter, non-GAAP gross margin was 82.6%, which expanded 70 basis points (bps) on a year-over-year basis.Subscription gross margin of 86.5% expanded 90 bps year over year. Professional services and other gross margin were 14.3% compared with the year-ago quarter’s figure of 13.4%.Total operating expenses, on a non-GAAP basis, were $986 million in the reported quarter, up 32.7% year over year. As a percentage of revenues, operating expenses increased 260 bps on a year-over-year basis.ServiceNow’s non-GAAP operating margin contracted 200 bps on a year-over-year basis to 25.4%.Balance Sheet & Cash FlowAs of Mar 31, 2022, ServiceNow had cash and cash equivalents, and short-term investments of $4.01 billion compared with $3.30 billion as of Dec 31, 2021.During the reported quarter, cash from operations was $863 million compared with $844 million in the previous quarter.ServiceNow generated free cash flow of $770 million in the quarter, up from $744 million reported in the prior quarter.GuidanceFor second-quarter 2022, non-GAAP subscription revenues are projected between $1.715 billion and $1.720 billion, which suggests an improvement of 29% year over year.ServiceNow expects non-GAAP operating margin to be 22%.For 2022, ServiceNow expects non-GAAP subscription revenues to be $7.155-$7.170 billion, which suggests a rise of 28.5% from the year-ago reported figure.ServiceNow expects non-GAAP subscription gross margin to be 86% and non-GAAP operating margin to be 25%. Moreover, non-GAAP free cash flow margin is expected to be 31%. How Have Estimates Been Moving Since Then?It turns out, fresh estimates have trended downward during the past month.The consensus estimate has shifted -39.27% due to these changes.VGM ScoresAt this time, ServiceNow has a strong Growth Score of A, though it is lagging a lot on the Momentum Score front with an F. Charting a somewhat similar path, the stock was allocated a grade of D on the value side, putting it in the bottom 40% for this investment strategy.Overall, the stock has an aggregate VGM Score of C. If you aren't focused on one strategy, this score is the one you should be interested in.OutlookEstimates have been broadly trending downward for the stock, and the magnitude of these revisions indicates a downward shift. Notably, ServiceNow has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months. Just Released: The Biggest Tech IPOs of 2022 For a limited time, Zacks is revealing the most anticipated tech IPOs expected to launch this year. Concerns about Federal interest rates and inflation caused many private companies to stay on the bench- leading to companies with better brand recognition and higher growth rates getting into the game. With the strength of our economy and record amounts of cash flooding into IPOs, you don’t want to miss this opportunity. See the complete list today.>>See Zacks Hottest IPOs NowWant 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 ServiceNow, Inc. (NOW): Free Stock Analysis Report To read this article on Zacks.com click here......»»

Source:  zacksCategory: top~6 hr. 49 min. ago Related News

Why Is United Rentals (URI) Down 10.6% Since Last Earnings Report?

United Rentals (URI) reported earnings 30 days ago. What's next for the stock? We take a look at earnings estimates for some clues. A month has gone by since the last earnings report for United Rentals (URI). Shares have lost about 10.6% in that time frame, underperforming the S&P 500.Will the recent negative trend continue leading up to its next earnings release, or is United Rentals due for a breakout? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important catalysts.United Rentals Earnings & Revenue Beat, Lifts ViewUnited Rentals, Inc. reported better-than-expected first-quarter 2022 results. Better fleet productivity on broad-based rental demand in construction and industrial verticals, higher total and rental revenues along with stronger pricing helped the company start 2022 on a stronger note.URI also lifted its full-year guidance for total revenues, adjusted EBITDA and free cash flow, given customer sentiments and solid project activity.With respect to 2022 guidance, Matthew Flannery, CEO of United Rentals, said, “Based on our visibility into the year, as well as leading industry indicators, we remain confident in our ability to leverage the current upcycle and adapt to any operating conditions.”Inside the HeadlinesAdjusted earnings of $5.73 per share topped the Zacks Consensus Estimate of $5.28 by 8.5%. The reported figure also increased 66.1% from the prior-year figure of $3.45 per share.Total revenues of $2.52 billion surpassed the consensus mark of $2.47 billion by 2.1% and grew 22.7% year over year. This upside reflects broad-based solid momentum in activity across end-markets served.Rental revenues increased 30.5% from the year-ago quarter to $2.18 billion. This marks a record first quarter, given a broad-based recovery of activity across end-markets served by the company as well as a higher rental fleet at original equipment cost ("OEC"). Fleet productivity was up 13% year over year backed by better fleet absorption.Yet, used equipment sales decreased 21% from a year ago. Adjusted gross margin of 57.8% expanded 1,510 basis points (bps) due to higher pricing, which marked the sixth consecutive quarter of increase.Segment DiscussionGeneral Rentals: Segment equipment rentals’ revenues grew 25.1% year over year to $1.59 billion. Rental gross margin expanded 380 bps year over year to 36.1%, courtesy of improved fixed cost absorption due to higher revenues.Specialty (earlier known as Trench, Power and Pump): Segmental rental revenues increased 47.7% year over year to $582 million. Rentals gross margin grew 240 bps on a year-over-year basis to 44.5%, given improved fixed cost absorption.MarginsThe company’s total equipment rentals gross margin rose 370 bps year over year to 38.3%. Adjusted EBITDA also grew 30.5% from the prior-year quarter to $1,139 million. Adjusted EBITDA margin expanded 270 bps to 45.1% for the quarter, owing to higher margins from rental revenues and used equipment sales.Balance SheetUnited Rentals had cash and cash equivalents of $101 million as of Mar 31, 2022, down from $144 million at 2021-end. Total liquidity was $3.006 billion at March-end. Long-term debt as of Mar 31, 2022 was $8.53 billion, down from $8.78 billion at 2021-end.Cash from operating activities increased 16.9% year over year to $886 million for the quarter. Free cash flow fell 21.1% year over year to $572 million for the first quarter of 2022. This downside was mainly due to higher net rental capital expenditure.2022 GuidanceTotal revenues are expected in the range of $11.1-$11.5 billion versus $10.65-$11.05 billion projected earlier. This indicates an increase from $9.72 billion reported in 2021.Adjusted EBITDA is projected between $5.2 billion and $5.4 billion compared with the prior projection of $4.95-$5.15 billion. The current projection indicates a jump from the year-ago figure of $4.41 billion.Net rental capital expenditure after gross purchases is still projected within $1.85-$2.05 billion, indicating a decline from $2.03 billion in 2021, considering the mid-point of the guidance.Net cash provided by operating activities is anticipated in the range of $3.7-$4.1 billion (compared with $3.5-$3.9 billion expected earlier), suggesting a rise from $3.69 billion in 2021.Free cash flow (excluding the impact of merger and restructuring-related payments) is expected in the range of $1.7-$1.9 billion compared with $1.5-$1.7 billion anticipated earlier. This suggests an increase from $1.53 billion reported in 2021. How Have Estimates Been Moving Since Then?It turns out, estimates revision have trended upward during the past month.The consensus estimate has shifted 5.7% due to these changes.VGM ScoresAt this time, United Rentals has a great Growth Score of A, though it is lagging a bit on the Momentum Score front with a B. Charting a somewhat similar path, the stock was allocated a grade of A on the value side, putting it in the top quintile for this investment strategy.Overall, the stock has an aggregate VGM Score of A. If you aren't focused on one strategy, this score is the one you should be interested in.OutlookEstimates have been broadly trending upward for the stock, and the magnitude of these revisions looks promising. Notably, United Rentals has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months. Just Released: The Biggest Tech IPOs of 2022 For a limited time, Zacks is revealing the most anticipated tech IPOs expected to launch this year. Concerns about Federal interest rates and inflation caused many private companies to stay on the bench- leading to companies with better brand recognition and higher growth rates getting into the game. With the strength of our economy and record amounts of cash flooding into IPOs, you don’t want to miss this opportunity. See the complete list today.>>See Zacks Hottest IPOs NowWant 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 United Rentals, Inc. (URI): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research.....»»

Source:  zacksCategory: top~6 hr. 49 min. ago Related News

Why Is Meritage (MTH) Up 0.3% Since Last Earnings Report?

Meritage (MTH) reported earnings 30 days ago. What's next for the stock? We take a look at earnings estimates for some clues. A month has gone by since the last earnings report for Meritage Homes (MTH). Shares have added about 0.3% in that time frame, outperforming the S&P 500.Will the recent positive trend continue leading up to its next earnings release, or is Meritage due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important catalysts.Meritage Homes Q1 Earnings and Sales Top EstimatesMeritage Homes Corporation reported solid results for first-quarter 2022. Quarterly earnings surpassed the Zacks Consensus Estimate and increased on a year-over-year basis. Revenues also rose from the year-ago quarter’s levels on the back of a strong housing market, thanks to a low supply of new and resale housing inventory and favorable demographics.MTH recorded the highest quarterly sales order volume and second-highest first-quarter home closings. It also recorded the highest quarterly home closing gross margin, the highest first quarter of home closing revenues and the best quarterly SG&A leverage in the company’s history.Phillippe Lord, the CEO of MTH, said, "With interest rates increasing, we believe that our affordable entry-level and first move-up homes that offer “surprisingly more” allow us to expand our customer base to include those that are being priced out of move-up communities and consider our homes an attractive alternative. Our mid-year goal of a 300 community count is within reach. We continue to carefully navigate the still-constrained operating environment by expanding our trade base and strengthening critical relationships.”Earnings & Revenue DiscussionMeritage Homes reported earnings of $5.79 per share, which topped the Zacks Consensus Estimate of $4.68 by 23.7% and increased 68% year over year. The uptrend was due to solid pricing power, expanded gross margin, improved overhead leverage and a lower outstanding share count in the quarter.Total revenues (including Homebuilding and Financial Services revenues) amounted to $1.29 billion, up 18.7% from the year-ago quarter’s levels backed by solid home and land closing.Segment DiscussionHomebuilding: Total closing revenues totaled $1,286.9 million, up 19% from the prior-year quarter’s level of $1,083.8 million. The metric topped the consensus mark of $1,246 million by 3.3%. Home closing revenues totaled $1,245.5 million, up 15% year over year. The upside can be attributed to a 17% increase in average sales price or ASP. Volumes dropped 1% year over year.During the quarter, the company reported homes closed of 2,858 units, down 1.1% year over year. In dollars, homes closed gained 15.3% year over year to $1.25 billion. Total home orders increased 12% from the prior year to 3,874 homes, backed by a 32% increase in active community count, partially offset by a 16% decrease in average absorptions per store to 4.9 per month from 5.8 per month a year ago.Entry-level buyers represented 83% of sales order compared with 76% in the year-ago quarter.The value of net orders increased 31% year over year to $1.77 billion. Quarter-end backlog totaled 6,695 units, up 27.8% year over year. The value of the backlog also increased 45.9% year over year to $3.04 billion.Home closing gross margin increased 560 basis points (bps) to 30.3%. Selling, general and administrative expenses — as a percentage of home closing revenues — improved 130 bps from the prior-year quarter’s levels. The uptrend was mainly driven by continued leverage of fixed costs on higher home closing revenues, lower broker commissions and the benefits of technology on sales and marketing efforts.Land closing revenues amounted to $41.5 million, up from $3.8 million in the year-ago quarter.Financial Services: The segment’s revenues dropped 2% from the prior-year quarter’s level to $4.67 million.Balance SheetAt the first quarter-end, cash and cash equivalents totaled $520.4 million compared with $618.3 million on Dec 31, 2021. At March-end, 75,100 lots were owned or controlled by the company compared with 58,000 lots at the end of first-quarter 2021.Total debt to capital at quarter-end was 26.9% compared with 27.6% at 2021-end. Net debt to capital was 16.9% versus 15.1% on Dec 31, 2021.2022 Guidance UpdatedFor 2022, Meritage Homes expects 14,500-15,500 home closings versus 12,801 in 2021. Home closing revenues are expected in the range of $6.5-6.9 billion ($6.1-6.5 billion projected earlier). In 2021, Home closing revenues totaled $5.1 billion. It now projects home closing gross margins in the low 28% range compared with 27.8% projected earlier.With an effective tax rate of 25%, Meritage Homes anticipates earnings per share in the range of $26.3-27.9 versus $23.15-$24.65 expected earlier. How Have Estimates Been Moving Since Then?It turns out, estimates revision have trended downward during the past month.VGM ScoresAt this time, Meritage has a poor Growth Score of F, however its Momentum Score is doing a lot better with a C. Charting a somewhat similar path, the stock was allocated a grade of B on the value side, putting it in the top 40% for this investment strategy.Overall, the stock has an aggregate VGM Score of D. If you aren't focused on one strategy, this score is the one you should be interested in.OutlookEstimates have been trending downward for the stock, and the magnitude of these revisions indicates a downward shift. Notably, Meritage has a Zacks Rank #1 (Strong Buy). We expect an above average return from the stock in the next few months. Just Released: The Biggest Tech IPOs of 2022 For a limited time, Zacks is revealing the most anticipated tech IPOs expected to launch this year. Concerns about Federal interest rates and inflation caused many private companies to stay on the bench- leading to companies with better brand recognition and higher growth rates getting into the game. With the strength of our economy and record amounts of cash flooding into IPOs, you don’t want to miss this opportunity. See the complete list today.>>See Zacks Hottest IPOs NowWant 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 Meritage Homes Corporation (MTH): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research.....»»

Source:  zacksCategory: top~6 hr. 49 min. ago Related News

Wave of Dismal Q1 Earnings Drags Retail ETFs Down

The overall earnings picture for the retail sector in Q1 earnings has been disappointing, raising questions about the health of the consumer in the current inflationary environment The overall earnings picture for the retail sector in Q1 earnings has been disappointing, raising questions about the health of the consumer in the current inflationary environment. Total earnings from 95.9% of the sector’s total market capitalization reported so far are down 19.6% on 6.5% higher revenues, with 60.0% beating EPS estimates and 70.0% beating revenue estimates.The EPS beat percentage is the lowest since 53.8% reported in Q4 of 2018 and the second-lowest in the last five years. As such, SPDR S&P Retail ETF XRT, VanEck Vectors Retail ETF RTH, Amplify Online Retail ETF IBUY and ProShares Online Retail ETF ONLN are in focus (see: all the Consumer Discretionary ETFs here).  Let’s dig into the details of some of the earnings releases.Earnings in FocusThe second-largest department store retailer, Macy’s M topped earnings and revenue estimates. It beat earnings estimates by 26 cents and revenues by $3 million. Macy’s continues to expect sales in the range of $24.46-$24.70 billion and raised its adjusted earnings per share guidance to $4.53-$4.95 from the prior projection of $4.13-$4.52 per share.Leading departmental store Kohl’s KSS came up with a dismal earnings report. Kohl’s posted adjusted earnings of 11 cents per share, missing the Zacks Consensus Estimate by 64 cents. Revenues of $3.71 billion fell short of the consensus mark of $3.85 billion. The retailer lowered its guidance for full-year 2022. It now expects net sales growth of flat to 1%, down from the previous projection of 2-3% growth. The earnings per share outlook was reduced to $6.45-$6.85 from $7.00-$7.50.Home Depot HD, the world's largest home improvement retailer, topped estimates. Earnings per share of $4.09 surpassed the Zacks Consensus Estimate by 42 cents and revenues outpaced the same by $2.4 billion. The retailer raised the 2022 guidance for sales growth to 3% from the previous forecast of slight positive growth. It also expects earnings per share to rise in the mid-single-digit percentage range, up from the previous forecast of low-single-digit percentage growth. Meanwhile, the second-largest home improvement retailer, Lowe’s LOW beat estimates for earnings by 27 cents but missed revenues by $73 million. It anticipates sales of $97-$99 billion for full-year 2022 and earnings per share of $13.10-$13.60.Big-box retailer, Target TGT, lagged the Zacks Consensus Estimate for earnings by 81 cents but exceeded revenues by $642 million, respectively. For full-year 2022, the company continues to expect low-to-mid single-digit revenue growth.Walmart WMT also missed on revenues but beat on revenue estimates. Earnings per share came in at $1.30, missing the Zacks Consensus Estimate of $1.46. Revenues of $141.57 billion topped the consensus mark of $138.3 billion. The world's biggest retailer expects earnings per share to fall about 1% in fiscal 2023, rather than rise by mid-single digits as expected earlier (read: Walmart Slumps on Q1 Earnings Miss: ETFs in Focus).ETFs in FocusBelow we have highlighted ETFs in detail:  SPDR S&P Retail ETF (XRT)SPDR S&P Retail ETF tracks the S&P Retail Select Industry Index, which provides exposure across large, mid and small-cap stocks. It holds well-diversified 108 stocks in its basket, with none making up for more than 1.5% share. SPDR S&P Retail ETF is well spread across various industries with a double-digit allocation each in apparel retail, automotive retail, Internet & direct marketing retail, and specialty stores (read: Fed Minutes Rekindle Optimism: 5 ETFs That Surged the Most).SPDR S&P Retail ETF is the largest and most popular in the retail space, with AUM of $405.1 million and an average trading volume of 6.1 million shares. It charges 35 bps in annual fees and has a Zacks ETF Rank #1 (Strong Buy) with a Medium risk outlook.VanEck Vectors Retail ETF (RTH)VanEck Vectors Retail ETF provides exposure to the 25 largest retail firms by tracking the MVIS US Listed Retail 25 Index, which measures the performance of the companies involved in retail distribution, wholesalers, online, direct mail and TV retailers, multi-line retailers, specialty retailers and food and other staples retailers. VanEck Vectors Retail ETF is highly concentrated on the top firm with double-digit exposure each, while the other firms hold no more than 9.5% share.VanEck Vectors Retail ETF has amassed $145.1 million in its asset base and charges 35 bps in annual fees. It trades in a lower volume of 18,000 shares a day on average. VanEck Vectors Retail ETF has a Zacks ETF Rank #3 (Hold) with a Medium risk outlook (read: ETFs & Stocks to Win on Uptick in April Retail Sales).Amplify Online Retail ETF (IBUY)Amplify Online Retail ETF offers global exposure to companies that derive 70% or more revenues from online and virtual retail by tracking the EQM Online Retail Index. IBUY holds 74 stocks in its basket, with none accounting for more than 2.5% of assets. Amplify Online Retail ETF has the largest allocation in traditional retail at 49.5% followed by 36.9% in the marketplace.Amplify Online Retail ETF has attracted $229 million in its asset base and charges 65 bps in annual fees. IBUY trades in an average daily volume of 63,000 shares.ProShares Online Retail ETF (ONLN)ProShares Online Retail ETF offers exposure to the company that principally sells online or through other non-store channels, and then zeroing in on the companies reshaping the retail space. It tracks the ProShares Online Retail Index, holding 40 stocks in its basket. ONLN is highly concentrated on the top two firms while other firms hold no more than 5.1% of assets. American firms make up three-fourth of the portfolio, while Chinese firms account for 17% share.ProShares Online Retail ETF has accumulated $278.2 million in its asset base and charges 58 bps in annual fees. ONLN trades in an average daily volume of 91,000 shares. Want key ETF info delivered straight to your inbox? Zacks’ free Fund Newsletter will brief you on top news and analysis, as well as top-performing ETFs, each week.Get it free >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Macy's, Inc. (M): Free Stock Analysis Report Target Corporation (TGT): Free Stock Analysis Report Kohl's Corporation (KSS): Free Stock Analysis Report Walmart Inc. (WMT): Free Stock Analysis Report Lowe's Companies, Inc. (LOW): Free Stock Analysis Report The Home Depot, Inc. (HD): Free Stock Analysis Report SPDR S&P Retail ETF (XRT): ETF Research Reports VanEck Retail ETF (RTH): ETF Research Reports Amplify Online Retail ETF (IBUY): ETF Research Reports ProShares Online Retail ETF (ONLN): ETF Research Reports To read this article on Zacks.com click here. Zacks Investment Research.....»»

Source:  zacksCategory: top~6 hr. 49 min. ago Related News

Why Is CACI International (CACI) Up 3.8% Since Last Earnings Report?

CACI International (CACI) reported earnings 30 days ago. What's next for the stock? We take a look at earnings estimates for some clues. It has been about a month since the last earnings report for CACI International (CACI). Shares have added about 3.8% in that time frame, outperforming the S&P 500.Will the recent positive trend continue leading up to its next earnings release, or is CACI International due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important drivers.CACI Q3 Earnings and Revenues Miss EstimatesCACI International reported lower-than-expected results for the third quarter of fiscal 2022. The national security-related IT solutions and services provider reported non-GAAP earnings of $4.64 per share, missing the Zacks Consensus Estimate of $4.79. Also, the bottom line declined by 12.1% from the year-ago quarter’s figure of $5.28 per share.This decline in earnings was primarily due to lower operational income, high interest expenses and tax rates, partially offset by a reduced number of shares outstanding. The reduction in shares outstanding can be attributed to the stock buyback worth $500 million under the accelerated share repurchase program announced in March 2021.In the third quarter of fiscal 2022, CACI reported revenues of $1.58 billion, missing the Zacks Consensus Estimate of $1.65 billion. However, the top line increased 2.1% from the prior-year quarter, primarily driven by acquisitions completed earlier this year. Organic revenues declined by 2% on a year-over-year basis.Quarterly DetailsContract awards during the third quarter totaled $1.2 billion, with approximately 45% for the new business. Revenues from contract awards excluded the ceiling values of multi-award, indefinite-delivery indefinite-quantity contracts.CACI ended the quarter with a backlog of $23.5 billion, up 5% on a year-over-year basis. As of Mar 31, 2022, the funded backlog decreased by 7% to $3 billion.In terms of the customer mix, the Department of Defense contributed 70.7% to total revenues in the reported quarter. Federal Civilian Agencies made up 24%, while Commercial and other customers accounted for 5.3% of revenues.Revenues generated as a prime contractor and a subcontractor accounted for 89.6% and 10.4% of total revenues, respectively.In terms of the contract type, cost-plus-fee type contracts, fixed-price contracts and time and material type contracts contributed 56.1%, 31.8% and 12.1%, respectively, to total revenues.Revenues generated as ‘Expertise’ and ‘Technology’ accounted for 45.2% and 54.8% of total revenues, respectively.Operating DetailsThe operating income for the quarter amounted to $125.4 million, down 17.2% year over year. The operating margin contracted by 190 basis points (bps) to 7.9%. Adjusted EBITDA slumped by 12.1% year over year to $161.5 million. The adjusted EBITDA margin contracted by 160 bps to 10.2%.The company cited an abnormally high profit margin in the prior-year quarter as the primary reason behind this decline. In the year-ago quarter, the company’s margins benefited from higher profitability due to the favorable fixed-price contract performance and lower indirect costs amid the pandemic.Balance Sheet & Cash FlowAs of Mar 31, 2022, CACI had cash and cash equivalents of $125.1 million compared with the previous quarter’s $124.1 million. Total long-term (net of the current portion) debt was $1.82 billion, down from $2.08 billion as of Dec 31, 2021.The company generated an operating cash flow (excluding MARPA) of $314.1 million during the third quarter, improving by 145% from the year-ago quarter. During the first three quarters of fiscal 2022, CACI generated $617.4 million of operating cash flow (excluding MARPA).Free cash flow was $296.9 million during the quarter under review and $578.6 million in the first three quarters of fiscal 2022.Guidance UpdateCACI updated its fiscal 2022 guidance. The company now projects revenues between $6.2 billion and $6.25 billion compared with the prior range of $6.300-$6.400 billion. Adjusted earnings are forecast between $17.51 and $17.93 per share compared with the earlier guidance of $18.14-$18.57 per share.The company now expects a fiscal 2022 net income in the range of $415-425 million compared with the prior range of $430-440 million. However, it estimates free cash flow to be at least $720 million. How Have Estimates Been Moving Since Then?It turns out, estimates review have trended downward during the past month.VGM ScoresAt this time, CACI International has a nice Growth Score of B, though it is lagging a lot on the Momentum Score front with an F. However, the stock was allocated a grade of B on the value side, putting it in the second quintile for this investment strategy.Overall, the stock has an aggregate VGM Score of B. If you aren't focused on one strategy, this score is the one you should be interested in.OutlookEstimates have been broadly trending downward for the stock, and the magnitude of these revisions looks promising. Notably, CACI International has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months. Just Released: The Biggest Tech IPOs of 2022 For a limited time, Zacks is revealing the most anticipated tech IPOs expected to launch this year. Concerns about Federal interest rates and inflation caused many private companies to stay on the bench- leading to companies with better brand recognition and higher growth rates getting into the game. With the strength of our economy and record amounts of cash flooding into IPOs, you don’t want to miss this opportunity. See the complete list today.>>See Zacks Hottest IPOs NowWant 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 CACI International, Inc. (CACI): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research.....»»

Source:  zacksCategory: top~6 hr. 49 min. ago Related News

Ryder (R) Up 10.6% Since Last Earnings Report: Can It Continue?

Ryder (R) reported earnings 30 days ago. What's next for the stock? We take a look at earnings estimates for some clues. A month has gone by since the last earnings report for Ryder (R). Shares have added about 10.6% in that time frame, outperforming the S&P 500.Will the recent positive trend continue leading up to its next earnings release, or is Ryder due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important drivers.Ryder Beats Q1 Earnings EstimatesRyder System’s (R) first-quarter 2022 earnings (excluding 24 cents from non-recurring items) of $3.59 per share surpassed the Zacks Consensus Estimate of $2.38. The bottom line increased more than 100% year over year on the back of higher revenues.Total revenues of $2,853.9 million also outperformed the Zacks Consensus Estimate of $2,578.7 million. The top line increased 28.5% year over year on strong segmental performances.Segmental ResultsFleet Management Solutions: Total revenues of $1,529 million were up 15% year over year. Operating revenues (excluding fuel and lease liability insurance revenues) summed $1,282 million, up 10% year over year. Segmental revenues benefited from higher rental revenues on the back of strong demand and favorable pricing. Revenues increased on higher fuel pricing as well. Within the segment, commercial rental revenues increased 40% year over year while fuel services and ChoiceLease liability insurance revenues jumped 48%. ChoiceLease revenues inched up 1% while SelectCare and other revenues climbed 13%.Dedicated Transportation Solutions: Total revenues amounted to $425 million, up 33% from the year-ago quarter’s figure. Operating revenues (excluding fuel and subcontracted transportation) climbed 25% to $296 million. The revenue uptick was driven by new business and favorable pricing.Supply-Chain Solutions: Total revenues in the segment were $1,089 million, up 54% year over year. Operating revenues (excluding fuel and subcontracted transportation) rose 47% year over year to $738 million on the back of revenue growth in all industry verticals.Other DetailsRyder exited the first quarter with cash and cash equivalents of $221.9 million compared with $234 million at the end of 2021. R’s total debt (including the current portion) rose to $6,780.8 million at the end of the first quarter from $6,579.7 million reported at the end of 2021. During the March quarter, gross capital expenditures increased to $662 million, up 62.7% year over year due to higher planned investments in the lease fleet. Free cash flow in the reported quarter was $107.7 million, down 55.4% year over year.Q2 EPS OutlookFor the second quarter of 2022, Ryder expects its adjusted earnings per share (EPS) in the range of $3.50-$3.75. 2022 OutlookRyder now expects total revenues and operating revenues to increase approximately 17% and 14%, respectively, in 2022 (previous view: both were expected to rise 10%).Adjusted EPS for the full year is now estimated in the range of $13.00-$14.00 (previous outlook: $11.00-$12.00). Per Ryder’s chairman and CEO Robert Sanchez, "Looking ahead, we've increased our 2022 ROE and comparable EPS forecasts reflecting continued momentum in FMS. Our forecast continues to anticipate that the very strong used vehicle sales and rental market environment will moderate in the second half of the year, with slower freight growth partially offset by ongoing vehicle production constraints”.R expects free cash flow in the range of $550-$650 million (previous view: $200-$300 million) in 2022.  Adjusted ROE (return on investment) is expected to be 23-25%. How Have Estimates Been Moving Since Then?It turns out, fresh estimates have trended upward during the past month.The consensus estimate has shifted 24.26% due to these changes.VGM ScoresAt this time, Ryder has a nice Growth Score of B, a grade with the same score on the momentum front. Charting a somewhat similar path, the stock was allocated a grade of A on the value side, putting it in the top quintile for this investment strategy.Overall, the stock has an aggregate VGM Score of A. If you aren't focused on one strategy, this score is the one you should be interested in.OutlookEstimates have been trending upward for the stock, and the magnitude of these revisions looks promising. It comes with little surprise Ryder has a Zacks Rank #1 (Strong Buy). We expect an above average return from the stock in the next few months. Just Released: The Biggest Tech IPOs of 2022 For a limited time, Zacks is revealing the most anticipated tech IPOs expected to launch this year. Concerns about Federal interest rates and inflation caused many private companies to stay on the bench- leading to companies with better brand recognition and higher growth rates getting into the game. With the strength of our economy and record amounts of cash flooding into IPOs, you don’t want to miss this opportunity. See the complete list today.>>See Zacks Hottest IPOs NowWant 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 Ryder System, Inc. (R): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research.....»»

Source:  zacksCategory: top~6 hr. 49 min. ago Related News

BioMarin (BMRN) Down 4.6% Since Last Earnings Report: Can It Rebound?

BioMarin (BMRN) reported earnings 30 days ago. What's next for the stock? We take a look at earnings estimates for some clues. A month has gone by since the last earnings report for BioMarin Pharmaceutical (BMRN). Shares have lost about 4.6% in that time frame, outperforming the S&P 500.Will the recent negative trend continue leading up to its next earnings release, or is BioMarin due for a breakout? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important drivers.Q1 Earnings & Revenues Beat EstimatesBioMarin reported first-quarter 2022 adjusted earnings of 55 cents per share, beating the Zacks Consensus Estimate of 38 cents. However, earnings slid 1.8% from the year-ago quarter’s figure.Total revenues were $519.4 million in the reported quarter, up 7% from the year-ago quarter’s level. The revenues beat the Zacks Consensus Estimate of $505 millionQuarter in DetailProduct revenues (including Aldurazyme) were $505.5 million in the quarter, up 8.1% year over year. Product revenues from BioMarin's marketed brands (excluding Aldurazyme) were up 15% year over year to $481.1 million on higher revenues from Vimzim, Naglazyme, Voxzogo and Brineura. Royalty and other revenues were $13.8 million in the quarter, down 24.2%.Vimizim sales were up 16% year over year to $183 million while Naglazyme sales were up 19% to $128 million. The rise in sales was driven by the new patients initiating therapy as well as the favorable timing of orders in the Middle East and Europe. On the conference call, management said that both Naglazyme and Vimzim achieved record quarterly sales in first-quarter 2022.Brineura generated sales of $36.2 million in the quarter, up 33% year over year, driven by 18% growth in new patients starting treatment in Europe.The new drug Voxzogo, generated sales worth $19.7 million in the first quarter with the majority of sales coming from Europe. During the previous quarter, the drug generated $5.2 million of revenues.  Per management, an estimated 284 children are being treated with Voxzogo, of which 83 reside in the United States.Palynziq injection sales grossed $54.9 million in the quarter, up 2% year over year. Sales continued to be hurt by the pandemic impact as PKU clinics were not operating at full capacity.In the PKU franchise, Kuvan revenues declined 16% to $59.3 million due to generic competition as the drug lost U.S. market exclusivity in late 2020.Product revenues from Aldurazyme totaled $24.4 million, down 51% due to the unfavorable timing of product fulfillment to Sanofi’s subsidiary Genzyme.2022 Guidance RevisionBioMarin now expects to record Voxzogo sales in the range of $100-$125 million in 2022, up from the previously affirmed guidance of $90-$115 million. On the conference call, management said that it expects Voxzogo to be a meaningful contributor to BMRN’s total revenues. BMRN expects robust prescription demand to continue driving the drug’s growth, including approval in the new markets.Apart from Voxzogo sales, BioMarin maintained its previously issued guidance for 2022. BMRN reiterated total 2022 revenues in the range of $2.05-$2.15 billion, indicating growth of 14% at the midpoint.Vimizim sales are expected in the range of $650-$700 million in 2022. Kuvan sales are anticipated in the range of $225-$250 million. Palynziq sales are expected in the range of $280-$310 million. Naglazyme sales are expected between $400 million and $440 million. Brineura sales are expected within $145-$160 million. BioMarin expects Roctavian to be a modest contributor to its current-year revenues.BioMarin expects adjusted net income in the range of $350-$390 million, indicating more than 50% growth from the 2021 actuals. How Have Estimates Been Moving Since Then?In the past month, investors have witnessed a downward trend in estimates revision.The consensus estimate has shifted -35.33% due to these changes.VGM ScoresAt this time, BioMarin has a nice Growth Score of B, though it is lagging a bit on the Momentum Score front with a C. Following the exact same course, the stock was allocated a grade of C on the value side, putting it in the middle 20% for this investment strategy.Overall, the stock has an aggregate VGM Score of C. If you aren't focused on one strategy, this score is the one you should be interested in.OutlookEstimates have been broadly trending downward for the stock, and the magnitude of these revisions indicates a downward shift. Notably, BioMarin has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months. Just Released: The Biggest Tech IPOs of 2022 For a limited time, Zacks is revealing the most anticipated tech IPOs expected to launch this year. Concerns about Federal interest rates and inflation caused many private companies to stay on the bench- leading to companies with better brand recognition and higher growth rates getting into the game. With the strength of our economy and record amounts of cash flooding into IPOs, you don’t want to miss this opportunity. See the complete list today.>>See Zacks Hottest IPOs NowWant 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 BioMarin Pharmaceutical Inc. (BMRN): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research.....»»

Source:  zacksCategory: top~6 hr. 49 min. ago Related News

Graco Inc. (GGG) Down 2.7% Since Last Earnings Report: Can It Rebound?

Graco Inc. (GGG) reported earnings 30 days ago. What's next for the stock? We take a look at earnings estimates for some clues. A month has gone by since the last earnings report for Graco Inc. (GGG). Shares have lost about 2.7% in that time frame, outperforming the S&P 500.Will the recent negative trend continue leading up to its next earnings release, or is Graco Inc. due for a breakout? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important drivers.Graco Misses on Q1 Earnings & Sales, Faces Cost WoesGraco Inc. has reported lackluster first-quarter 2022 results. GGG’s earnings missed the Zacks Consensus Estimate by 9.5%. Its sales missed the same by 4.4%.In the reported quarter, Graco’s adjusted earnings were 57 cents per share, missing the Zacks Consensus Estimate of 63 cents. The bottom line decreased 1.7% from the year-ago quarter’s figure of 58 cents, mainly due to lower sales. High costs and expenses were headwinds and hurt margins.Revenue DetailsIn the quarter under review, GGG’s net sales were $494.3 million, reflecting year-over-year growth of 9%. Results were driven by solid segmental performances. Volume growth and effective pricing contributed to sales growth.Graco’s top line missed the Zacks Consensus Estimate of $517 million.On a regional basis, quarterly sales generated from the Americas grew 11% to $293 million. In the Europe, the Middle East and Africa region, sales were $106 million, decreasing 4% year over year (or up 2% at constant currency rate), while sales from the Asia Pacific were $95 million, increasing 20% (or up 22% at constant currency rate).Graco reports net sales under three segments, namely Industrial, Process and Contractor. The segmental information is briefly discussed below:Revenues for the Industrial segment totaled $144.7 million (contributing to 29.3% of the quarter’s sales), rising 11% year over year on the back of improved economic activities. Adverse foreign-currency translations lowered sales by 3%. Core sales grew 14% year over year.Revenues in the Process segment grossed $115.0 million (contributing to 23.3% of the quarter’s sales), increasing 26% year over year. The improvement came on the back of a 26% rise in core sales, driven by healthy business activities across all regions served.Revenues in the Contractor segment totaled $234.6 million (contributing to 47.4% of the quarter’s sales), up 1% year over year. Core sales expanded 1%, acquisitions had a positive impact of 1% but foreign currency translation had a negative impact of 1%. The core sales improvement was driven by healthy demand in the Asia Pacific and EMEA regions. Also, improved construction markets boosted business in North America.It is worth noting that Graco started reporting its high-performance coatings and foam product offerings under the Contractor segment starting first-quarter 2022. Earlier, these businesses were reported under the Industrial Segment’s Applied Fluid Technologies division.Margin ProfileIn the first quarter, Graco’s cost of sales grew 15.9% year over year to $240 million. GGG represented 48.6% of the quarter’s net sales compared with 45.6% in the year-ago quarter. The gross profit increased 2.8% to $254 million, while the margin was down 300 basis points (bps) to 51.4%. The margin weakness was triggered by a product cost increase, caused by inflationary and supply-chain woes. This was partially offset by a higher production volume and a favorable channel and product mix plus price realization.Operating expenses (including product development; selling, marketing and distribution; and general and administrative expenses) increased 6% year over year to $44 million. The same represented 8.9% of net sales in the reported quarter compared with 8.1% in the year-ago period.Adjusted operating income was flat year over year with $128 million. The operating margin decreased 230 bps to 25.9% in the quarter. Interest expenses in the quarter totaled $5.2 million compared with $2.4 million reported in the year-ago period. Adjusted tax rate in the quarter was 19%.Balance Sheet and Cash FlowExiting the first quarter, Graco had cash and cash equivalents of $380 million, down 39.1% from $624 million at the end of the last reported quarter. The long-term debt balance was flat sequentially with $75 million.Graco generated net cash of $31 million from operating activities in the first three months of 2022 compared with $102 million generated in the year-ago period. Capital used for purchasing property, plant and equipment totaled $47 million compared with $21 million in the year-ago period.GGG paid out dividends worth $36 million to its shareholders in the first three months of 2022, up 13.3% from the previous-year quarter’s level. Graco repurchased shares worth $109 million in the first three months of 2022.OutlookGraco expects healthy demand across regions and segments in 2022. Effective pricing actions will be beneficial.For 2022, GGG anticipates organic sales growth (on constant currency basis) in the high-single digit.Graco expects capital expenditure of $190 million, including $140 million for the expansion of facilities. Corporate expenses (unallocated) are estimated to be $30-$32 million. The unfavorable impacts of movements in foreign currencies are expected to lower sales by 2% and earnings by 4% in the year.The effective tax rate for the year is predicted to be 18-19%. How Have Estimates Been Moving Since Then?It turns out, fresh estimates have trended downward during the past month.VGM ScoresAt this time, Graco Inc. has an average Growth Score of C, though it is lagging a lot on the Momentum Score front with an F. Charting a somewhat similar path, the stock was allocated a grade of D on the value side, putting it in the bottom 40% for this investment strategy.Overall, the stock has an aggregate VGM Score of D. If you aren't focused on one strategy, this score is the one you should be interested in.OutlookEstimates have been broadly trending downward for the stock, and the magnitude of these revisions indicates a downward shift. Notably, Graco Inc. has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months. Just Released: The Biggest Tech IPOs of 2022 For a limited time, Zacks is revealing the most anticipated tech IPOs expected to launch this year. Concerns about Federal interest rates and inflation caused many private companies to stay on the bench- leading to companies with better brand recognition and higher growth rates getting into the game. With the strength of our economy and record amounts of cash flooding into IPOs, you don’t want to miss this opportunity. See the complete list today.>>See Zacks Hottest IPOs NowWant 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 Graco Inc. (GGG): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research.....»»

Source:  zacksCategory: top~6 hr. 49 min. ago Related News