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Natural Gas ETF (UNG) Hits a 52-Week High

The United States Natural Gas ETF is probably a suitable pick for investors looking for momentum. The United States Natural Gas ETF UNG is probably a suitable pick for investors looking for momentum. UNG has hit a 52-week high and is up 184.9% from its 52-week low price of $11.69/share.Let’s take a look at UNG and its near-term outlook to gauge where it might be headed.UNG in FocusThe Natural Gas Price Index is the futures contract on natural gas as traded on the NYMEX. It charges an expense ratio of 1.11%.Why the Move?European natural gas prices continue to increase and are now 10 times the usual amount for this time of year, Bloomberg data shows, as quoted on businessinsider.in. A severe heat wave in Europe has been pushing up demand for electricity recently, thereby raising gas prices.More Gains Ahead?It seems like UNG will remain strong, with a positive weighted alpha of 149.44, which gives cues of a further rally. 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 United States Natural Gas ETF (UNG): ETF Research Reports To read this article on Zacks.com click here......»»

Category: topSource: zacks12 hr. 55 min. ago Related News

Is Pioneer Core Equity Fund A (PIOTX) a Strong Mutual Fund Pick Right Now?

Mutual Fund Report for PIOTX Any investors hoping to find a Mutual Fund Equity Report fund could think about starting with Pioneer Core Equity Fund A (PIOTX). PIOTX has a Zacks Mutual Fund Rank of 2 (Buy), which is based on nine forecasting factors like size, cost, and past performance.History of Fund/ManagerPIOTX finds itself in the Amundi US family, based out of Boston, MA. Pioneer Core Equity Fund A debuted in September of 1969. Since then, PIOTX has accumulated assets of about $1.74 billion, according to the most recently available information. The fund is currently managed by Craig Sterling who has been in charge of the fund since May of 2015.PerformanceInvestors naturally seek funds with strong performance. This fund carries a 5-year annualized total return of 11.68%, and it sits in the middle third among its category peers. Investors who prefer analyzing shorter time frames should look at its 3-year annualized total return of 12.32%, which places it in the top third during this time-frame.When looking at a fund's performance, it is also important to note the standard deviation of the returns. The lower the standard deviation, the less volatility the fund experiences. Compared to the category average of 16.03%, the standard deviation of PIOTX over the past three years is 18.87%. The fund's standard deviation over the past 5 years is 17.36% compared to the category average of 14.39%. This makes the fund more volatile than its peers over the past half-decade.Risk FactorsInvestors should note that the fund has a 5-year beta of 0.98, which means it is hypothetically as volatile as the market at large. Alpha is an additional metric to take into consideration, since it represents a portfolio's performance on a risk-adjusted basis relative to a benchmark, which in this case, is the S&P 500. Over the past 5 years, the fund has a negative alpha of -0.8. This means that managers in this portfolio find it difficult to pick securities that generate better-than-benchmark returns.HoldingsInvestigating the equity holdings of a mutual fund is also a valuable exercise. This can show us how the manager is applying their stated methodology, as well as if there are any inherent biases in their approach. For this particular fund, the focus is principally on equities that are traded in the United States.The mutual fund currently has 98.29% of its holdings in stocks, and these companies have an average market capitalization of $249.09 billion. The fund has the heaviest exposure to the following market sectors: Technology Finance Industrial Cyclical This fund's turnover is about 64%, so the fund managers are making more traders than comparable funds in a given year.ExpensesAs competition heats up in the mutual fund market, costs become increasingly important. Compared to its otherwise identical counterpart, a low-cost product will be an outperformer, all other things being equal. Thus, taking a closer look at cost-related metrics is vital for investors. In terms of fees, PIOTX is a load fund. It has an expense ratio of 0.88% compared to the category average of 1.09%. Looking at the fund from a cost perspective, PIOTX is actually cheaper than its peers.Investors should also note that the minimum initial investment for the product is $1,000 and that each subsequent investment needs to be at $100.Bottom LineOverall, Pioneer Core Equity Fund A ( PIOTX ) has a high Zacks Mutual Fund rank, and in conjunction with its comparatively similar performance, average downside risk, and lower fees, this fund looks like a good potential choice for investors right now.This could just be the start of your research on PIOTXin the Mutual Fund Equity Report category. Consider going to www.zacks.com/funds/mutual-funds for additional information about this fund, and all the others that we rank as well for additional information. For analysis of the rest of your portfolio, make sure to visit Zacks.com for our full suite of tools which will help you investigate all of your stocks and funds in one place. How to Profit from the Hot Electric Vehicle Industry Global electric car sales in 2021 more than doubled their 2020 numbers. And today, the electric vehicle (EV) technology and very nature of the business is changing quickly. The next push for future technologies is happening now and investors who get in early could see exceptional profits. See Zacks' Top Stocks to Profit from the EV Revolution >>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 Get Your Free (PIOTX): Fund Analysis Report To read this article on Zacks.com click here......»»

Category: topSource: zacks12 hr. 55 min. ago Related News

How The Inflation Reduction Act Will Spur a New Climate Tech Ecosystem

The new climate policy could lead to the creation of 1,000 new companies, estimates the head of investment at Bill Gates’ climate fund On the surface, the Inflation Reduction Act that President Biden signed into law on Tuesday may sound like a massive government spending program. Indeed, it promises to put nearly $370 billion in federal funding behind the energy transition. But, if you dig deeper, the IRA is less about the power of government spending and more about the power of the private sector. The tax incentives, loans, and grants at its center are all intended to nudge the private sector to go faster in deploying existing technologies like wind and solar while also advancing future technologies. “The path they went down is 100% the ‘sweeten the deal path,’” says Karen Karniol-Tambour, chief investment officer for sustainability at Bridgewater. “Let’s just give lots of incentives to make the green stuff really competitive.” [time-brightcove not-tgx=”true”] It’s early days, but it’s safe to say that this landmark investment will create a new ecosystem as companies—from large multinationals to feisty startups—chase the opportunities embedded in the IRA. A version of this story first appeared in the Climate is Everything newsletter. To sign up, click here. To understand the revolution underway, let’s start with the biggest line items: green tax incentives. The law includes tens of billions in tax credits for a range of clean technologies, from electricity production to more efficient consumer appliances. Beyond boosting popular wind and solar, it will also advance technologies that have struggled to win mainstream acceptance. Think: nuclear, hydrogen, and fossil fuels where carbon dioxide emissions are captured. These credits will change corporate behavior. Most obviously, power companies will be encouraged to produce clean energy over more polluting options. But the implications for industry go much further as firms—particularly carbon intensive ones—consider new, financially-rewarding ways to cut emissions. As tax consultancy PWC advised in the wake of the IRA, companies should “consider potential changes to their manufacturing or operating models” to take advantage of the benefits of the new law. In total, $3.5 trillion is expected to be invested in new, primarily clean energy infrastructure in the U.S. between 2023 and 2035, according to an analysis of the IRA’s impacts by Princeton University’s REPEAT Project. Read more: The Inflation Reduction Act Will Soon Make it Cheaper to Buy EVs—If They Have North American Batteries Tax credits for people to retrofit their homes and purchase new energy efficient appliances creates another market incentive for companies to expand their product offerings. And new companies will spring up to do the same thing. The IRA also has a few ways to more directly help the private sector beyond tax credits. An analysis from the Environmental Defense Fund shows that $11.7 billion in new federal funding will allow the Department of Energy to loan more than $312 billion to private companies. These loans will help companies get groundbreaking technology, programs, and infrastructure off the ground. (This same program helped Tesla expand its manufacturing more than a decade ago). All of this is likely to lead to a new ecosystem in the private sector as big companies evolve and a new generation of climate tech companies alike chase newfound opportunities. The head of investment at Bill Gates’ climate fund estimated this week that the IRA would lead to the creation of 1,000 new companies. But while investors are generally good at allocating capital to make better technology (and turn a profit) they are less good at addressing the social ramifications. To address this, the IRA includes guardrails to promote domestic manufacturing, union labor, and environmental justice concerns. But many activists remain unconvinced. Shaping the new climate ecosystem may be the topic for the next big climate legislation......»»

Category: topSource: time14 hr. 23 min. ago Related News

When There’s Talk of Gun Control, Gunmakers Play the Jobs Card. They’re Often Bluffing

Gunmakers are convincing elected officials they have to choose between gun-control laws and manufacturing jobs and benefiting richly. At first he thought it was an umbrella. But when the shotgun that was pointed at John Seymour went off, hitting him in the back and the wrist, he thought he was going to die in his own barbershop. He fell to the floor and played dead as the gunman shot three of his customers, killing two of them. Then the gunman, a former customer, killed two men in a nearby oil-change shop and holed up in an abandoned restaurant, where he later died in a shootout with police. Nearly 10 years later, Seymour thinks constantly about the shooting. “To this day, anything goes, Bang bang! and I jump. What do you expect? I had a guy die on top of me at my barbershop,” says Seymour, 76, who is known locally as John the barber. “​​We never thought we’d be a mass-murder part of the country.” [time-brightcove not-tgx=”true”] But like just about everyone else in Ilion, N.Y, a small town in New York’s Herkimer County about 80 miles northwest of Albany, Seymour has a soft spot for Remington Arms, the gun manufacturer that has been located here since Eliphalet Remington started making firearms in 1816. Remington’s imposing redbrick factory looms over Main Street. Walk around downtown, past the vape shops, the peeling multifamily homes, and the Remington Federal Credit Union, and you can hear the clinking of steel being cut as the factory churns out orders. Jason Koxvold for TIMEJohn Seymour in his barber shop where he survived a mass shooting nearly a decade ago. People here don’t talk about how Remington’s version of an AR-15—made in Ilion—was used in the Sandy Hook Elementary School shooting less than 200 miles away, or that the company filed for bankruptcy twice between 2018 and 2020, because of financial engineering by the private equity firm that bought the company in 2007. They also don’t talk about how the company regularly threatens to leave New York and move somewhere cheaper, or periodically lays off hundreds of workers, leaving some in limbo for months or years. What they do talk about is Remington’s proud history of making arms for America when the country needed them the most, like during World Wars I and II—when workers had to carpool to the factory because the parking lot couldn’t fit everyone’s cars—and the affinity they have for a company that employed most of their fathers, and their father’s fathers. “They help the little village of Ilion and its 7,500 people,” says Seymour, who when he isn’t plying his trade as a barber moonlights as a wedding and event singer. His father worked at Remington for 43 years, beginning in 1932, and Seymour’s brother and brother-in-law also worked there. “They pay taxes on that building, and we give them a little break on everything.” Remington, on the other hand, has not been very kind to the village of Ilion in recent years. After decades of threatening to relocate to the South, where gun laws are friendlier and labor is cheaper, the company went so far as to move two lines of manufacturing to Alabama in 2014, after that state offered nearly $70 million and factory space rent-free. That endeavor ultimately failed, leaving the Alabama factory shuttered, and some of the equipment moved back to Ilion. When the Remington Outdoor Company filed for bankruptcy in 2020, it owed hundreds of thousands of dollars to local suppliers and utility providers, including the local shoe store, the hardware store, and Ilion’s treasurer, police department, water commission, and the roughly 609 workers it had abruptly laid off without the health care benefits or severance pay promised in their contract. Despite these slights, many Ilion residents remain unfailingly loyal to the company. “I would say that we bleed green—Remington green,” says Frank “Rusty” Brown, who has worked at the factory since 1995 and was one of the workers who protested outside the factory in 40-degree weather in October 2020, after Remington filed for bankruptcy and fired all its Ilion manufacturing workers. “This is our living; it’s how our parents made a living. I’m dedicated to the place.” Remington’s Ilion and Tennessee properties, as well as its long-gun, shotgun, and pistols businesses, were bought out of bankruptcy in 2020 by a company called the Roundhill Group LLC, which now operates Remington through a holding company called RemArms. Roundhill appears to have been created solely to purchase Remington’s assets from its bankruptcy proceedings; Richmond Italia, a paintball entrepreneur who is one of Roundhill’s two partners, said in court filings that he was approached by Ken D’Arcy, a professional race-car driver and manufacturing executive who was appointed CEO of Remington in 2019. D’Arcy suggested that Italia buy Remington’s firearms assets. (The two men knew each other because they had both served as CEOs and then sat on the board of GI Sportz, a paintball company that filed for bankruptcy in October 2020, shortly after Roundhill purchased Remington.) In November 2021, D’Arcy, who is still CEO of Remington, announced that RemArms was moving to LaGrange, Ga. Ilion officials scurried to give RemArms incentives to stay, offering a 50% discount on property taxes, but Remington seemed uninterested in negotiating. Some residents began to imagine a town without Remington; others, like Brown, remained skeptical that the factory would shut down. After all, RemArms had started calling workers like him who’d been laid off in 2020 back to the factory in April 2021 to restart manufacturing, and the company is now negotiating with the United Mine Workers of America, the union representing workers when Remington filed for bankruptcy, to ink a new contract for Ilion. The Roundhill Group did not respond to calls and emails seeking comment for this story. “Remington has been going to move elsewhere since my parents worked there,” says Brown, whose wife, two daughters, and son-in-law still work at the plant. “You hear it so many times over the years, you become numb to it.” Jason Koxvold for TIMEFrank “Rusty” Brown has worked at the Remington Arms factory since 1995. Remington’s hot-and-cold relationship with Ilion is not a rare case among American gunmakers. It may seem reasonable to assume, in light of recent state laws and lawsuits filed against them, that gun companies are under siege, their bottom lines threatened by regulations and shifting public attitudes toward firearms. But today more than ever, gun manufacturers like Remington (now RemArms), Smith & Wesson, and Colt are pulling the strings, convincing elected officials they have to choose between gun-control laws and manufacturing jobs. States in the South and West are offering millions in incentives to gun companies and loosening laws around gun ownership to show their fealty to gun culture, even as gunmakers have raked in $3 billion in profits since the pandemic began. Profits for gunmakers have been strong for the last decade, with both Smith & Wesson and Sturm Ruger & Co., the country’s two biggest gunmakers, surpassing $100 million in profit every year. That’s putting pressure on states like New York to loosen recently passed gun-control laws, to convince manufacturers to stay—even though often those manufacturers are just adding new locations in other states and not actually leaving their original homes. The gunmakers’ leverage makes sense in a country where manufacturing is still seen as the backbone of the country, even though jobs in the sector make up less than 10% of U.S. employment, down from one-quarter of employment half a century ago. Politicians and voters on the right and left often romanticize factory jobs that make products marketed as all-American, such as trucks, tractors, and guns, particularly if they’re set to remain on American soil. (In the case of guns, many buyers don’t want something manufactured in a foreign country where safety standards are perceived to be lower). As America has become more polarized, gun manufacturers have been able to orchestrate complicated political theater, threatening to move factories—and jobs—when gun-control legislation is passed in certain states. They are garnering millions of dollars in incentives from states and local economic development boards rolling out the red carpet to demonstrate their gun-friendly credentials. Despite evidence that giving incentives to factories isn’t a cost-effective way to create jobs, and often they actually lose money—as in the case of electronics maker Foxconn’s deal in Wisconsin—states know that attracting manufacturers is popular with voters. Remington is a master at this game. In 1995, the company announced that it was moving its headquarters to North Carolina, receiving $150,000 from the state to do so. In the end, no manufacturing jobs were moved to the state. Then, after private equity firm Cerberus Capital Management purchased Remington in 2007 and rumors swirled that manufacturing would be moved overseas to save money, the State of New York gave Remington $3 million to expand its Ilion plant, and then $2.5 million more in 2010 to add 100 jobs. Just three years later, in 2013, New York passed sweeping gun-control legislation the SAFE Act, which banned some assault-style weapons, began requiring background checks for nearly all gun sales, and prohibited people who’d committed certain offenses from possessing guns. Ilion politicians used the law’s passage to criticize state Democrats for driving Remington away, and indeed, Remington soon announced that it was being courted by five other states. Six elected officials from the Ilion area pledged assistance should Remington build a new manufacturing plant in the area, warning in a public letter that “the clock is ticking on an inevitable exit by Remington from the state.” Read more: How Gunmakers May Benefit From Mass Shootings In 2014, Remington announced it was moving two production lines to Huntsville, Ala., a decision the company’s CEO George Kollitides blamed on New York gun laws, citing “Alabama’s rich tradition of defending freedom,” as a “major deciding factor” in the move. At the time, a company spokesperson said the move was “a strategic business decision” to consolidate plants. But while the announcement provided a platform for conservatives to lambast New York’s gun laws, the Ilion plant continued to operate with around 1,300 employees. The jobs that moved to Alabama were from other Remington plants in conservative states like Montana, Utah, and North Carolina. Alabama’s play for Remington did not look so smart by 2020, when Remington filed for bankruptcy and owed $12.5 million to Huntsville, because it had not met the hiring numbers it had agreed to in its $70 million incentive deal with the city. The company appeared to be drawing from the same playbook when it announced it was moving its headquarters to LaGrange in 2021. “The decision to locate in Georgia is very simple: the state of Georgia is not only a business-friendly state; it’s a firearms-friendly state,” RemArms CEO Ken D’Arcy said at the time. RemArms secured $6 million in incentives from Georgia, and pledged to build a $100 million research and development center in LaGrange. According to T. Scott Malone, president of the Development Authority of LaGrange, RemArms has set up shop in an 80,000-sq.-ft. temporary facility, and recently started producing its first guns. RemArms specifically attributed its decision to move to a New York law passed in 2021 that would bypass blanket immunity provided to gunmakers under federal law, and make it easier to bring civil lawsuits against gun companies. “Unfortunately, if a law like that is passed in New York State, we would have to reconsider our options for the future and our plans to expand our New York operations,” Italia, the managing partner for Roundhill Group said in an email to Utica’s Times Telegram in July 2021. But the law applies to all gunmakers that sell guns in New York, which would include RemArms wherever it has its plants. But despite all the headlines, the company has told New York stakeholders that it now has no plans to close the Ilion facility. “Nobody’s moving to Georgia—in fact, they’re adding employees here,” says John Piseck, CEO of the Herkimer County Industrial Development Agency, a public-benefit corporation that can offer tax breaks to local businesses. RemArms has called back nearly all of the 609 workers Remington laid off when it filed for bankruptcy in 2020, according to Jamie Rudwall, president of the United Mine Workers of America. He notes that only 300 have actually returned, the rest having either found new jobs or retrained for new careers. Business is good. Because gun sales are soaring in the U.S., and manufacturers need to expand operations to keep up with demand, gunmakers can combine business decisions with lobbying, announcing that they’re opening a new factory in Georgia or North Carolina to meet demand while complaining about gun-control laws elsewhere. Retailers performed 21 million background checks associated with the sale of a firearm in 2020, a 62% increase from 2019, and twice as many as 2010, according to data from the National Instant Criminal Background Check System (NICS) that is used as a rough proxy for gun sales. The figures don’t include background checks for other purposes, like concealed carry permits. For workers like Brown, the constant push and pull is more of a nuisance than a threat to their livelihoods. Brown—whose wife, two daughters, and soon-to-be son-in-law work at the Ilion plant—says the company should know by now that it won’t find workers anywhere as skilled, dedicated, or patient with the company as those in Ilion. “It’s always, ‘We’re going to move to where there’s cheaper labor. We’re going to move to where there’s this law or that law.’ After so many years, you become immune to it,” Brown says. “And then to see them fail miserably in Alabama, it’s like, ‘I told you so.’ ” To this day, both Georgia and New York officials are still pulling for RemArms to bring some more good news to their communities, even though RemArms’ future looks a little shaky. Tax collectors in Alabama are already trying to foreclose on some of Roundhill’s recently purchased assets because they weren’t removed from the state in a timely fashion, according to bankruptcy documents. The firearms economy When Brown was growing up, there were lots of manufacturing jobs in upstate New York, but Remington was the place he wanted to be. “It was so hard to get in there, because it was the greatest job ever,” he says. Both his parents had worked there, so he knew: health care didn’t cost anything; he got a pension and a good wage; and he didn’t have to bother with college. By the time he was laid off in 2020, he was making $26.87 an hour—more if he worked nights or overtime. Brown is one of thousands of people in the U.S. Northeast who make a living manufacturing firearms. The area around western Massachusetts and Connecticut, nicknamed Gun Valley, has been a gunmaking hub since George Washington set up an armory in Springfield, Mass., in the late 18th century to keep weapons out of reach of the British Navy. In 1986, 47% of guns manufactured in the U.S. were made in Connecticut, 24% in Massachusetts, and 12% in New York, according to Jürgen Brauer, the chief economist with nonpartisan research group Small Arms Analytics, who analyzed historical data from the Bureau of Alcohol, Tobacco, and Firearms (ATF). But in recent years, amid rising political polarization, states in the South and West, desperate to attract jobs in the aftermath of the Great Recession, have attempted to lure manufacturers from Gun Valley. Their pitch: gun companies should move to places where people like guns. The sunset of the federal assault-weapons ban in 2004, and subsequent attempts by states to pass laws either loosening or tightening rules on gun ownership, signaled where gunmakers would be welcome. Some states even started to designate official state guns alongside their state flowers and fish. “We’re all here to show our support for the Second Amendment to our neighbors and communities,” Nebraska Governor Pete Ricketts said earlier this year, onstage with five other governors at the trade show of the National Sports Shooting Foundation (NSSF), which now spends more on lobbying than the National Rifle Association. (Around 10,000 guns were made in Nebraska in 2020, less than 1% of all guns made in the U.S.) Jason Koxvold for TIMEJamie Rudwall, president of the United Mine Workers of America. “There’s a trend of companies that have picked up and moved, and it’s really been accelerating as of late,“ says Mark Oliva, managing director of public affairs at the NSSF. The NSSF keeps a running list of gunmakers that it says have migrated from the Northeast to the South, including Kimber, Sturm Ruger & Co., and Beretta. But the NSSF’s list is misleading. Though some gunmakers have picked up and moved their factories south from states like Connecticut, the far more common occurrence is that they move only their headquarters to Southern states, but keep manufacturing in the state in which that factory already exists. Such a move can secure juicy incentives such as tax breaks and free facilities, and generate headlines about liberal states losing manufacturing, while sparing gunmakers the hassle of moving millions of dollars of equipment and hiring and training new workers. Indeed, most of the companies on the NSSF’s list of “gun industry migration” still have manufacturing in the northeast. The devil is in the details. According to Brauer’s analysis of ATF data, by 2020 just 1.42% of guns were made in Connecticut, and less than 1% in New York, while states like Georgia, North Carolina, and South Carolina accounted for 9%, 6%, and 5%, of firearm manufacturing, respectively. The two top states for gunmaking in 2020, according to the data, were Missouri and New Hampshire. However, those figures only show where guns are distributed, rather than manufactured, deceptively counting Smith & Wesson—the biggest producer of guns in 2020—as a Missouri company, even though its guns in 2020 were made in Massachusetts, not Missouri. The company generated headlines in 2017 when it announced it was moving to Missouri, receiving a 50% tax break over 10 years. But at the time, it only moved about 20 jobs from its Massachusetts headquarters. The data shows that Massachusetts made 21% of all firearms in 2015 and just 0.49% in 2020—but that’s because Smith & Wesson established a distribution center in Missouri, not because it moved its manufacturing, Small Arms Analytics’ Brauer says. And in October 2021, Smith & Wesson said it would be relocating its headquarters to Tennessee from Springfield, Mass., its home for 165 years, after a bill was introduced in the Massachusetts legislature that would have banned the manufacture of assault weapons for civilian use. (The bill has gone nowhere.) At the time, Smith & Wesson said it decided to move because “We are under attack.” What it did not make clear was that its manufacturing operations—accounting for about 1,000 jobs—would stay in Springfield, and that what it was moving to Tennessee was assembly and distribution of firearms. One-quarter of the jobs being moved to Tennessee are currently located in Missouri and Connecticut, not Massachusetts. The Missouri warehouse the company had received an incentive for just a few years before would be closed, Smith & Wesson said. The company received $9 million from the state of Tennessee and made a deal with the local economic development agency that gives it a 60% tax break for seven years. Its CEO, Mark Smith, thanked Tennessee’s governor and legislature for their “unwavering support of the 2nd Amendment and for creating a welcoming, business friendly environment.” Smith & Wesson did not respond to requests for comment for this story. Gunmakers are increasingly turning to this playbook. Kahr Arms, which said it was moving out of New York in 2013 because of “stricter gun control,” moved its headquarters to Pennsylvania, which also has relatively strict gun-control laws, and kept its manufacturing in Massachusetts. Meanwhile, Colt, which threatened to move after Connecticut considered gun control laws in 2008 and passed them in 2013, decided to remain and then received a $10 million loan from the state of Connecticut in 2017. Colt made 158,501 guns in Connecticut 2020 and was recently bought by Czech company Česká zbrojovka Group (CZG), which itself received incentives in 2019, including 73 acres of free land by the state of Arkansas to build a gunmaking plant there. That Little Rock, Ark. plant has been put on hold, and the company says it has no plans to move Colt out of state. “Once situated in one state, it is exceedingly rare for a firearms manufacturer to move its entire operation to another state,” says Brauer. His research has found that gunmakers that say they’re leaving a Northeast state because of its gun-control policies usually keep a substantial presence there, and that they leave not because of the political climate but because they can find nonunionized, lower-paid workers in the South—and get millions of dollars in incentives. In 2010, for example, Olin Corp., owner of a Winchester ammunition factory, moved 1,000 jobs from Illinois to Mississippi after union workers in Illinois rejected a contract that would have reduced their pay. And a Remington executive told the New York Times in 2019 that in Ilion, the union “had them by the balls,” one reason the company moved some operations to Alabama from New York. Oliva, of the National Sports Shooting Foundation, says that moving operations is not a decision gunmakers take lightly, but that Smith & Wesson and other companies have to consider “the survival of a business” when states like Massachusetts talk of banning the manufacturing of some assault weapons to anyone but police and the military. The companies keep some manufacturing in the places where they were founded, out of loyalty to workers, he says, but “it is clear that many of these manufacturers are expanding to other states which are more friendly business environments and more friendly to gun rights.” For RemArms worker Brown, one of the ironies of the company’s indicating it will move to a state friendlier to gun owners is that Ilion is a place where people love guns. Ilion residents will offer to show strangers their gun collections, or wax lyrical about their favorite hunting rifle. Ask them about gun-control legislation, and they’ll blame Democrats, or politicians in Albany, for punishing the law-abiding citizens who want to own guns to hunt or to protect themselves. (Herkimer County voted for Donald Trump over Joe Biden in 2020 by a 2-to-1 margin.) Even “barber John” Seymour—still widely recognized locally as a mass-shooting survivor—is skeptical about the effectiveness of gun-control laws. “It’s tough for me to see the stuff that goes on in places like Uvalde,” he says. “But that guy would have gotten a gun no matter what—he was on a mission.” He points to the difficulties of assessing someone’s mental health when deciding whether they should be allowed to purchase a gun. In Seymour’s own case, the man who shot him, Kurt Myers, was mostly known locally as a loner who kept to himself, but authorities never found a motive for why he’d shot six people. It’s laws like New York’s SAFE Act that have most riled people in Ilion. “The climate changes when you say, ‘Big bad Remington is making this big mean gun in the middle of our state,’ ” says Rudwall, the union rep. “Look at the comments these politicians made: they demonize the tool, not the dude that did it.” When Remington threatens to leave, locals often blame state politicians for driving gunmakers out of the state. New York Republican Congresswoman Claudia Tenney has seized on that sentiment, campaigning to overturn the SAFE Act, lambasting former New York Governor Andrew Cuomo for what she has called “failed economic and anti–Second Amendment policies in New York,” and using her positions on guns to shore up her connection with Donald Trump. At a fundraiser Trump held for Tenney in 2018, he warned attendees: “They want to end your Second Amendment and they’re putting a big move on it … Cuomo wants to end your Second Amendment more than anybody.” In 2020, when Remington filed for bankruptcy, Tenney said she’d contacted President Trump and would get the factory reopened, and that it would “eventually employ a workforce significantly larger than the plant’s previous head count.” (It’s unclear whether Trump intervened.) A week later, Tenney was re-elected in one of the most expensive House races in the country, by 109 votes. Jason Koxvold for TIMERemington Arms has told New York stakeholders that it now has no plans to close the Ilion facility. Gunmakers’ threats to leave states in the Northeast have helped to stoke fear among some employees. As soon as renderings of the LaGrange RemArms headquarters started showing up online, Brown says his daughters and other workers on the factory floor began to express concern that they would lose their jobs. The pictures emerged just as the union was in the middle of negotiations with RemArms over wages and benefits, and people around the plant started hinting that the union should take whatever deal it could, says union representative Rudwall. Negotiations are still ongoing. “My daughter says, ‘Daddy, look at this brand-new facility, they’re not going to stay here,’ ” Brown says. “So when Jamie [Rudwall] comes back with a contract, whether they like it or not, they say, ‘Yes,’ because we want to keep working.” There are other jobs in Ilion; in this economy, there are other jobs just about anywhere. They’re just not manufacturing jobs. The county’s largest employer is now Tractor Supply, which is a distribution center. Verizon has a presence in the area, and Amazon is opening a warehouse nearby too. But some of the laid-off Remington workers who missed their chance to go back to the factory say they’d go back if given the opportunity. Allen Harrington worked at the Remington factory in Ilion for eight years. In October 2020, a few months after Remington filed for bankruptcy, the company laid off nearly all of its Ilion workers. Harrington was on the factory floor at the time, until a supervisor came in and said they had to shut everything down, and that everyone was terminated, and that health care, severance, and other benefits would be gone at the end of the month. Harrington eventually found a job making $13 an hour in a warehouse, down from the $25 he had made at Remington. He kicks himself for not going back to school after being laid off, but he felt too old—and he felt sure that the factory would re-open and he could work in manufacturing again. It’s hard to let go. “I loved that job,” Harrington says. “I know it’s uncertain there, but I’d go back in a heartbeat.”.....»»

Category: topSource: time14 hr. 23 min. ago Related News

Kalera Announces Second Quarter 2022 Financial Results

ORLANDO, Fla., Aug. 19, 2022 (GLOBE NEWSWIRE) -- Kalera Public Limited Company (NASDAQ:KAL, "Kalera" or the "Company")), a vertical farming company, today reported its financial results for the second quarter ended June 30, 2022. Second Quarter Financial Overview Total revenue of $1.3 million, marking an increase of $0.8 million from the second quarter last year: Foodservice revenue of $0.8 million, an increase of $0.6 million; Retail revenue of $0.5 million, an increase of $0.2 million. Net loss of $78.7 million, or a loss of $3.92 per diluted share, which included a one-time non-cash expense for goodwill impairment of $64.3 million, the change in fair value for the contingent value rights earnout of $17.3 million and a one-time expense of $7.5 million related to the closing of the Agrico business combination and Nasdaq listing. Adjusted EBITDA of negative $14.1 million. Adjusted EBITDA is a non-GAAP financial measure. See "Non-GAAP Financial Measures" below. Second Quarter Operational Highlights Welcomed Jim Leighton, a food industry veteran, as new President and CEO. Commenced operations of large-scale vertical farming facility in Denver. Secured strategic partnership with US Foods and began to leverage their network of 70+ distribution centers, 100+ cash and carry stores, and national footprint. Completed listing on Nasdaq, making Kalera the first vertical farm with global operations on the exchange. Strengthened balance sheet and improved liquidity. Management Commentary "We are pleased to report significant revenue growth on a year-over-year basis for the second quarter, reflecting momentum in our foodservice sales ahead of retail sales driven by our strategic partnership with US Foods," said Jim Leighton, President and Chief Executive Officer of Kalera. "In addition, we completed our listing on Nasdaq, delivering on our commitment to investors to provide more liquidity and creating opportunity for new investors to benefit from the first pure play vertical farm with leading technology and global operations." Kalera also announced the opening of the Denver farm in April to expand its production capacity and geographic footprint, allowing the Company to reach its goal of being the first truly vertical farming company to serve customers both regionally and nationally via foodservice, grocery, resort, hospitality, cruise line, airline and restaurant industries. Second Quarter 2022 Consolidated Financial Review Total revenue increased by $0.8 million, from $0.5 million for the second quarter last year to $1.3 million for the second quarter 2022. The revenue increase was reflective of the new farming facilities opened over the past 12 months. Total revenue included credits and promotions to new customers of $0.3 million served under foodservices partnerships. Selling, general and administrative (SG&A) expenses increased by $18.7 million, from $6.0 million for the second quarter last year to $24.6 million for the second quarter 2022. The increase in SG&A expenses was primarily driven by transaction expenses of $7.5 million related to the Agrico business combination, one-time non-cash stock options expense of $8.0 million mainly due to the cancellation of the previous Kalera stock option program and increases in corporate expenses required to manage three additional farms and the international operations acquired during the fourth quarter of 2021. SG&A expenses in the second quarter of 2021 included one-time expenses of $0.2 million. Gross operating loss for the second quarter was $96.8 million, which included one-time transaction expenses for the Agrico business combination and Nasdaq listing, one-time non-cash stock option expense of $8.0 million, and one-time non-cash expense of $64.3 million for goodwill impairment compared to a loss of $7.8 million for the same period last year. Net loss for the second quarter was $78.7 million, or a loss of $3.92 per diluted share, compared to a net loss of $7.7 million, or a loss of $0.51 per diluted share for the same period last year. Adjusted EBITDA was negative $14.1 million, compared to an adjusted EBITDA of negative $6.4 million for the same period last year. Balance Sheet and Liquidity The Company's cash balance as of June 30, 2022 was $3.3 million. During and subsequent to the second quarter, the Company took important steps to increase its liquidity and strengthen its balance sheet. During the second quarter of 2022, the Company completed the Agrico business combination, which resulted in $0.3 million in capital proceeds to Kalera. The Company also entered a 10-year, $30 million Senior Secured Credit Facility with Farm Credit of Central Florida to support capital expenditures and working capital needs of the entire Company. The facility provides $20 million in available funds for capital expenditures under a Term Loan, and $10 million to support general corporate and working capital purposes under a Revolving Loan. Subsequent to the close of the quarter, Kalera executed a private placement in the amount of $10 million to increase its liquidity and strengthen its balance sheet. OutlookAs a market leader in vertical farming – an industry expected to grow to $19 billion in five years* – Kalera is uniquely positioned to capitalize on significant growth opportunities. We will do this by optimizing our high-tech production capacity for sustainable lettuce, microgreens and herbs in the United States and internationally and by building out our capabilities. We plan to expand in select markets and communities that do not have accessibility to local and fresh produce, allowing us to capture an increased share of the broader U.S. lettuce and microgreens categories. We believe our growth will be supported by several key macro and micro drivers including: (1) the growing mainstream acceptance of our products, (2) heightened consumer awareness of the role food and nutrition play in long-term health and wellness, (3) growing awareness of the beneficial impact that vertical farming has on the environment relative to traditional agriculture and (4) increasing concern regarding food security on a global scale. Looking ahead, we will balance growth with disciplined capital deployment to create long-term value for our shareholders. *according to Global Market Insights Note Regarding Non-GAAP Financial MeasuresEBITDA and Adjusted EBITDA are not financial measures presented in accordance with accounting principles generally accepted in the United States of America ("GAAP"). We believe that the presentation of these non-GAAP financial measures will provide useful information to investors in assessing our financial condition and results of operations. Net loss is the GAAP measure most directly comparable to EBITDA and Adjusted EBITDA. Our non-GAAP financial measures should not be considered as alternatives to the most directly comparable GAAP financial measure. Each of these non-GAAP financial measures has important limitations as analytical tools because they exclude some but not all items that affect the most directly comparable GAAP financial measures. You should not consider EBITDA or Adjusted EBITDA in isolation or as substitutes for analysis of our results as reported under GAAP. Because EBITDA and Adjusted EBITDA may be defined differently by other companies in our industry, our definitions of these non-GAAP financial measures may not be comparable to similarly titled measures of other companies, thereby diminishing their utility. Conference Call and WebcastKalera will host a conference call, today at 9:00 am ET/6:00 am PT to discuss its financial results. The conference call may be accessed by dialing 1-844-763-8274 (domestic) or 1-412-717-9224 (international). A live audio webcast of the call also will be available on the Investor Relations section of Kalera's website at Events & Presentations | Kalera Public Limited Company and will be archived for replay. About KaleraAs a leader in controlled environmental agriculture, Kalera is driven by our belief that vertical farming can play an important role in securing access to fresh produce for a growing world population facing climate change and concerns about the future of traditional farming. Through our proprietary technology, we sustainably grow local, delicious, nutrient-rich, pesticide-free, non-GMO leafy greens year-round. Our automated, data-driven, hydroponic vertical farms produce higher yields and, use 95% less water, and 99% less land than traditional farming. Sold under the Kalera brand, our leafy greens are "better than organic" and priced competitively, always with the end consumer in mind. Kalera is headquartered in Orlando, Florida with farms in Orlando; Atlanta, Georgia; Houston, Texas; Denver, Colorado; and Kuwait, with additional farms under development. More information is available at www.kalera.com. Safe Harbor Statement This press release contains statements that may constitute "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), that involve substantial risks and uncertainties. All statements contained in this Quarterly Report other than statements of historical fact, including statements regarding our future results of operations and financial position, our business strategy and plans, and our objectives for future operations, are forward-looking statements. The words "believes," "expects," "intends," "estimates," "projects," "anticipates," "will," "plan," "design," "may," "should," or similar language are intended to identify forward-looking statements. It is routine for our internal projections and expectations to change throughout the year, and any forward-looking statements based upon these projections or expectations may change prior to the end of the next quarter or year. Readers of this Quarterly Report are cautioned not to place undue reliance on any such forward-looking statements. As a result of a number of known and unknown risks and uncertainties, our actual results or performance may be materially different from those expressed or implied by these forward-looking statements. Risks and uncertainties are identified under "Risk Factors" in Item 1A herein and in our other filings with the Securities and Exchange Commission (the "SEC"). The impact of COVID-19 and its variants may also exacerbate these risks, any of which could have a material effect on us. All forward-looking statements included herein are made only as of the date hereof. Unless otherwise required by law, we do not undertake, and specifically disclaim, any obligation to update any forward-looking statement, whether as a result of new information, future events, or otherwise after the date of such statement. You should read the following discussion and analysis of our financial condition and results of operations together with our unaudited condensed consolidated financial statements and related notes, and our audited consolidated financial statements and related notes for the year ended December 31, 2021, included in our registration statement on Form S-4 (File No. 333-264422). As used in this section, unless the context suggests otherwise, "we," "us," "our," "Company," "Kalera" refer to Kalera Public Limited Company, Inc. and its consolidated subsidiaries. Investor Contact Investor Contact Aparna Mehra, Director Julie Kegley, Senior Vice President Kalera Public Limited Company Financial Profiles, Inc. aparna.mehra@kalera.com kalera@finprofiles.com 617-851-0608 310-622-8246 KALERA PUBLIC LTD CO. AND SUBSIDIARIESCONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED)(In thousands, except share data)   Unaudited June 30, 2022   December 31, 2021 Assets       Current assets:       Cash and cash equivalents $ 3,335     $ 16,146   Trade receivables, net   1,043       795   Inventory   1,176       1,190   Prepaid expenses and other current assets   1,714       2,960   Total current assets   7,268       21,091   Property, plant, and equipment, net   144,256       128,162   Operating lease right-of-use assets   54,243       55,276   Goodwill   —       68,421   Intangible assets, net   64,335       72,371   Equity method investment   1,326       1,322   Other non-current assets   3,629       3,353   Total assets $ 275,057     $ 349,996   Liabilities and shareholders' equity       Current liabilities:       Accounts payable $ 10,861     $ 10,421   Financing obligation   283       —   Operating lease liabilities   2,544       1,618   Accrued salaries and wages   689       717   Accrued expenses   2,915       1,964   Convertible debt   10,253       —   Total current liabilities   27,545       14,720   Debt   19,779       662   Non-current operating lease liabilities   56,503       57,717   Non-current financing obligation   7,144       —   Deferred underwriting fees and grants   5,349       —   Earnout liabilities   13,775       —   Deferred tax liability   7,159       8,447   Asset retirement obligations   1,622       1,527   Total liabilities   138,876       83,073   Commitments and contingencies (Note 19)       Shareholders' equity:       Common stock, $.0001 par, 72,400,000 authorized, 21,377,828 and 18,946,567 issued &     outstanding as of June 30, 2022 and December 31, 2021, respectively   2       2   Additional paid in capital   305,826       331,074   Accumulated other comprehensive loss   (12,068 )     (1,547 ) Accumulated deficit   (157,579 )  .....»»

Category: earningsSource: benzinga14 hr. 24 min. ago Related News

Talking About ‘Inflation’ May Backfire For Brands, Says Collage Group

Hispanic, Black, and Asian Americans Are Also Adopting Different Purchasing Strategies A whopping 93% of respondents said they have noticed that items they ordinarily purchase are now more expensive, and 78% said they are “a little” to “very worried” about their current financial situation. Inflation Talk May Trigger Backlash From Consumers These findings are according […] Hispanic, Black, and Asian Americans Are Also Adopting Different Purchasing Strategies A whopping 93% of respondents said they have noticed that items they ordinarily purchase are now more expensive, and 78% said they are “a little” to “very worried” about their current financial situation. Inflation Talk May Trigger Backlash From Consumers These findings are according to a new study from cultural intelligence firm Collage Group, which also found that brands should avoid certain language about the economic outlook when addressing consumers. if (typeof jQuery == 'undefined') { document.write(''); } .first{clear:both;margin-left:0}.one-third{width:31.034482758621%;float:left;margin-left:3.448275862069%}.two-thirds{width:65.51724137931%;float:left}form.ebook-styles .af-element input{border:0;border-radius:0;padding:8px}form.ebook-styles .af-element{width:220px;float:left}form.ebook-styles .af-element.buttonContainer{width:115px;float:left;margin-left: 6px;}form.ebook-styles .af-element.buttonContainer input.submit{width:115px;padding:10px 6px 8px;text-transform:uppercase;border-radius:0;border:0;font-size:15px}form.ebook-styles .af-body.af-standards input.submit{width:115px}form.ebook-styles .af-element.privacyPolicy{width:100%;font-size:12px;margin:10px auto 0}form.ebook-styles .af-element.privacyPolicy p{font-size:11px;margin-bottom:0}form.ebook-styles .af-body input.text{height:40px;padding:2px 10px !important} form.ebook-styles .error, form.ebook-styles #error { color:#d00; } form.ebook-styles .formfields h1, form.ebook-styles .formfields #mg-logo, form.ebook-styles .formfields #mg-footer { display: none; } form.ebook-styles .formfields { font-size: 12px; } form.ebook-styles .formfields p { margin: 4px 0; } Get The Full Henry Singleton Series in PDF Get the entire 4-part series on Henry Singleton in PDF. Save it to your desktop, read it on your tablet, or email to your colleagues (function($) {window.fnames = new Array(); window.ftypes = new Array();fnames[0]='EMAIL';ftypes[0]='email';}(jQuery));var $mcj = jQuery.noConflict(true); Q2 2022 hedge fund letters, conferences and more   Data from the analysis, “Guard Against Recession with Cultural Insights,” cautions brands to refrain from using terms like ‘the economy,’ ‘recession,’ and ‘inflation’ as these phrases may trigger backlash from consumers. “These words polarize buyers, and once they hear them, there’s a tendency to absorb the message as loaded or too political,” explained David Evans, chief product officer at Collage Group. “I recommend brands avoid playing into the economic anxiety.” Evans instructs brands to connect around personal finance issues and look to address everyday problems such as paying down debt, and managing escalating costs. Another 93% of consumers want brands to do something to help them, with the top actions being to offer discounts, cut prices, and provide lower cost versions or packaging.    It is critical for brands to recognize that consumers are navigating the waters differently, especially across racial and ethnic segments, according to the study. Collage Group found that 35% of Hispanic Americans say they are “very worried” now, much higher than other groups. As a result, they have already begun adjusting their purchasing across virtually every category. Black Americans, however, are far less worried about what’s to come, and in fact are holding steady on purchasing behaviors. Evans attributes this poise to Black Americans’ tenacity over time, citing the segment’s higher levels of optimism and courageousness, two of a variety of cultural traits which Collage Group tracks across all demographics. Asian Americans say they are not yet worried. However, Asians also say they are planning to adjust spending in the future in order to be safe. “Americans across all racial and ethnic backgrounds are feeling the pinch, and brands need to respond with empathy and show they are prepared to take action,” said Jack Mackinnon, senior director at Collage Group and the author of the study. Findings were also notable in terms of generational perspectives. Millennials (ages 26 to 42 years old) and Gen X (ages 43 to 57 years old) consumers were most likely to be very worried about their current financial situation at 34%. “In the case of the young- to mid-age generations, their high level of concern is likely attached to the life-stages they occupy,” said Evans. “These are the segments who often have children, mortgages, and higher-education debt, thus inflation and elevated prices would understandably cause anxiety.” Inflation Fears Fifty two percent of Americans are bracing for the U.S. economy to worsen over the next six months, the study found. This point was largely driven by White Americans, at 58% and Asian Americans at 52%. The reality is, as a result of their inflation fears, Americans are indeed cutting back on spending. This includes an increase in purchasing more generic or store brands. Among cultural lines, Hispanic Americans have taken the greatest steps to save, as 74% of respondents answered that they have started purchasing more generic or store brands due to high prices. Hispanic and White Americans were slightly more likely to report taking such measures at 77% and 75%, respectively. Americans shopping locales are changing, too, with Hispanic and White respondents reporting they recently decided to shop more at discount stores in order to save money. Hispanics were more likely to report this behavior at 77%. In addition to that, the nation has taken other actions to reduce spending. Fifty six percent of respondents said they are dining out less. Driving has also been affected. In the wake of mounting gas prices, 55% said they have been driving less. Even in areas where fuel costs appear to have subsided, the totals are still much higher compared to this time a year ago. A number of shoppers have been delaying some of their bigger buys, as 32% reported postponing larger purchases. Twenty-five percent said they have canceled travel plans, and 24% reported cancelling streaming platforms, audio and video. Black respondents were less likely to report reducing their eating out routines (46%) or driving less (41%) to save money. Hispanic and Asian respondents were more likely to report abandoning travel plans at 31% and 30%, respectively. In general, Americans have a willingness to switch to cheaper options if their financial situation declines, but that motivation varies by race and ethnicity. Respondents said they are most open to switching to cheaper grocery (46%) and home care (37%) options if the economy continues to wane. So, what actions should brands take to authentically address the economic concerns of American consumers? “It is essential for brands to avoid attempting to adopt a ‘one-size-fits-all’ approach to the multicultural segment,” said Jack Mackinnon, senior director at Collage Group and the author of the study. “Brands also need to recognize the variety of responses consumers are having to inflation.” Collage Group recommends 5 action steps brands should consider. About Collage Group Collage Group is the leading source of cultural intelligence about diverse consumers to more than 250 of America’s iconic brands across 15 industries. Updated on Aug 18, 2022, 5:22 pm.....»»

Category: blogSource: valuewalk14 hr. 24 min. ago Related News

NerdWallet: This is exactly the best time to book an Airbnb to save money

An analysis of real-world booking data of hundreds of Airbnbs reveals how far in advance you should book......»»

Category: topSource: marketwatch16 hr. 40 min. ago Related News

Buy These 3 Municipal Bond Funds for Steady Returns

Below, we share with you three top-ranked municipal bond funds. Each has a Zacks Mutual Fund Rank #1 (Strong Buy). Municipal bonds, or "muni bonds," comprises debt securities issued by various states, cities, counties and other governmental entities to raise money to build roads, schools and a host of other projects for the public good. These municipal securities regularly pay interest payments, usually semi-annually, and pay the original investment or principal amount at the time of maturity. Interest paid on such bonds is generally exempted from federal taxes making them especially attractive to people in higher income tax brackets.Thus, risk-averse investors looking to earn a regular tax-free income may consider municipal bonds mutual funds. These mutual funds are believed to provide regular income while protecting the capital invested. While mutual funds from this category seek to provide dividends more frequently than other bonds, they offer greater stability than those primarily focusing on equity and alternative securities.Below, we share with you three top-ranked municipal bond funds, viz., Invesco Rochester Municipal Opportunities Fund ORNAX, Delaware National High Yield Municipal Bond Fund Class A CXHYX and AB Municipal Bond Inflation Strategy AUNAX. Each has a Zacks Mutual Fund Rank #1 (Strong Buy) and is expected to outperform its peers in the future. Investors can click here to see the complete list of municipal bond funds.Invesco Rochester Municipal Opportunities Fund invests the majority of its assets in municipal securities that its advisors believe are exempt from federal income tax and the fund's corresponding state income tax. ORNAX invests in securities issued by the governments of states, their political subdivisions, and the District of Columbia, U.S. territories, commonwealths, and possessions or by their agencies and other authorities.Invesco Rochester Municipal Opportunities Fund has three-year annualized returns of 2%. ORNAX has an expense ratio of 0.69% compared with the category average of 0.92%.Delaware National High Yield Municipal Bond Fund Class A seeks a high level of exempted current income by investing most of its assets in medium and lower-grade municipal securities exempted from federal income tax. CXHYX primarily invests in lower-rated municipal securities with higher income potential and greater risk.Delaware National High Yield Municipal Bond Fund Class A has three-year annualized returns of 1.9%. Stephen J. Czepiel has been the fund manager of CXHYX since 2007.AB Municipal Bond Inflation Strategy invests the majority of its net assets in high-quality investment-grade municipal fixed-income securities that pay interest exempt from federal tax, and are rated A or better by one or more recognized rating agencies. AUNAX also invests a small portion of its assets in below-investment-grade fixed-income securities or junk bonds.AB Municipal Bond Inflation Strategy has three-year annualized returns of 3.3%. As of April 2022, AUNAX had 63.6% of its net assets invested in Miscellaneous Bonds.To view the Zacks Rank and the past performance of all municipal bond funds, investors can click here to see the complete list of municipal bond funds.Want key mutual fund info delivered straight to your inbox?Zacks’ free Fund Newsletter will brief you on top news and analysis, as well as top-performing mutual funds, each week. Get it free >> Free: Top Stocks for the $30 Trillion Metaverse Boom The metaverse is a quantum leap for the internet as we currently know it - and it will make some investors rich. Just like the internet, the metaverse is expected to transform how we live, work and play. Zacks has put together a new special report to help readers like you target big profits. The Metaverse - What is it? And How to Profit with These 5 Pioneering Stocks reveals specific stocks set to skyrocket as this emerging technology develops and expands.Download Zacks’ Metaverse Report now >>View All Zacks #1 Ranked Mutual FundsWant 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 Get Your Free (ORNAX): Fund Analysis Report Get Your Free (AUNAX): Fund Analysis Report Get Your Free (CXHYX): Fund Analysis Report To read this article on Zacks.com click here. Zacks Investment Research.....»»

Category: topSource: zacksAug 18th, 2022Related News

Is Janus Henderson Global Technology T (JAGTX) a Strong Mutual Fund Pick Right Now?

Mutual Fund Report for JAGTX If investors are looking at the Mutual Fund Equity Report fund category, Janus Henderson Global Technology T (JAGTX) could be a potential option. JAGTX holds a Zacks Mutual Fund Rank of 2 (Buy), which is based on nine forecasting factors like size, cost, and past performance.History of Fund/ManagerJAGTX is a part of the Janus Fund family of funds, a company based out of Boston, MA. The Janus Henderson Global Technology T made its debut in December of 1998 and JAGTX has managed to accumulate roughly $1.27 billion in assets, as of the most recently available information. The fund's current manager, Denny Fish, has been in charge of the fund since January of 2016.PerformanceInvestors naturally seek funds with strong performance. This fund carries a 5-year annualized total return of 15.6%, and is in the middle third among its category peers. Investors who prefer analyzing shorter time frames should look at its 3-year annualized total return of 12.1%, which places it in the middle third during this time-frame.When looking at a fund's performance, it is also important to note the standard deviation of the returns. The lower the standard deviation, the less volatility the fund experiences. Over the past three years, JAGTX's standard deviation comes in at 23.44%, compared to the category average of 16.68%. The fund's standard deviation over the past 5 years is 21.23% compared to the category average of 15.02%. This makes the fund more volatile than its peers over the past half-decade.Risk FactorsInvestors should not forget about beta, an important way to measure a mutual fund's risk compared to the market as a whole. JAGTX has a 5-year beta of 1.11, which means it is likely to be more volatile than the market average. Because alpha represents a portfolio's performance on a risk-adjusted basis relative to a benchmark, which is the S&P 500 in this case, one should pay attention to this metric as well. Over the past 5 years, the fund has a positive alpha of 1.9. This means that managers in this portfolio are skilled in picking securities that generate better-than-benchmark returns.HoldingsExploring the equity holdings of a mutual fund is also a valuable exercise. This can show us how the manager is applying their stated methodology, as well as if there are any inherent biases in their approach. For this particular fund, the focus is largely on equities that are traded in the United States.This fund is currently holding about 97.03% stock in stocks, and these companies have an average market capitalization of $550.13 billion. With turnover at about 56%, this fund is making fewer trades than the average comparable fund.ExpensesAs competition heats up in the mutual fund market, costs become increasingly important. Compared to its otherwise identical counterpart, a low-cost product will be an outperformer, all other things being equal. Thus, taking a closer look at cost-related metrics is vital for investors. In terms of fees, JAGTX is a no load fund. It has an expense ratio of 0.90% compared to the category average of 1.30%. JAGTX is actually cheaper than its peers when you consider factors like cost.This fund requires a minimum initial investment of $2,500, while there is no minimum for each subsequent investment.Bottom LineOverall, Janus Henderson Global Technology T ( JAGTX ) has a high Zacks Mutual Fund rank, and in conjunction with its comparatively similar performance, worse downside risk, and lower fees, this fund looks like a good potential choice for investors right now.For additional information on this product, or to compare it to other mutual funds in the Mutual Fund Equity Report, make sure to go to www.zacks.com/funds/mutual-funds for additional information. For analysis of the rest of your portfolio, make sure to visit Zacks.com for our full suite of tools which will help you investigate all of your stocks and funds in one place. Free: Top Stocks for the $30 Trillion Metaverse Boom The metaverse is a quantum leap for the internet as we currently know it - and it will make some investors rich. Just like the internet, the metaverse is expected to transform how we live, work and play. Zacks has put together a new special report to help readers like you target big profits. The Metaverse - What is it? And How to Profit with These 5 Pioneering Stocks reveals specific stocks set to skyrocket as this emerging technology develops and expands.Download Zacks’ Metaverse Report now >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Get Your Free (JAGTX): Fund Analysis Report To read this article on Zacks.com click here......»»

Category: topSource: zacksAug 18th, 2022Related News

3 Financial Mutual Funds to Bet on As Rates Keep Rising

RPFGX, FSPCX and PRISX are three financial mutual funds that can be looked into as the Fed continues to hike interest rates. The Federal Reserve has been raising rates since March. Having been late in raising rates in their own admission, Fed officials have incrementally raised rates in each of their meetings, from 25 to 75 basis points, as the inflation has worsened. The July increase of 75 basis points for a second straight month marked the fastest pace of policy tightening in the past four decades.Fed chairman Jerome Powell has gone on record after the July meeting, saying that the September rate hike could be “unusually large.” Fed officials who have spoken to the media since the meeting have also pushed back against any perception that they would be easing off on tightening any time soon. They have made it abundantly clear that curbing the hottest inflation in four decades is their top priority. Fed minutes from the July meeting released yesterday also indicated that policymakers remain committed to increasing interest rates to tame inflation.The July jobs data showed a robust job market contrary to expectations, and the unemployment rate hit a pre-pandemic low. Seeing this as a solid macroeconomic sign of the economy not slowing down amid talks of an impending recession, the Fed can continue on its path of further tightening of monetary policy. But investors are taking heart from the latest consumer price index numbers, which have shown inflation falling from a 9.1% year-on-year high in June to 8.5% in July. Inevitable, as an interest rate hike may be, perhaps it will not be as steep as 75 basis points.Due to the hike in interest rates, the banking sector and other financial institutions that have cash holdings from customers and business activities will see higher profitability due to increased lending rates. This will increase their earnings as the gap between the federal fund rate and the rate the bank charges its customers will widen even further.In summary, financial mutual funds provide much-required growth in a volatile market and in one where interest rate hikes are expected to continue in the foreseeable future. Hence, astute investors should consider such funds at present. Mutual funds, in general, reduce transaction costs and diversify portfolios without an array of commission charges that are mostly associated with stock purchases (read more: Mutual Funds: Advantages, Disadvantages, and How They Make Investors Money).We have thus selected three financial mutual funds that boast a Zacks Mutual Fund Rank #1 (Strong Buy) or 2 (Buy), have positive three-year and five-year annualized returns and minimum initial investments within $5000 as well as carry a low expense ratio.Davis Financial Fund Class A RPFGX seeks long-term growth of capital. Under normal circumstances, the fund invests the majority of its net assets in securities issued by companies engaged in the financial services sector. The fund offers dividends and capital gains annually.Christopher Davis has been the lead manager of RPFGX since Dec 31, 2013, and 91.5% of the fund is invested in the financial sector. Three top holdings for RPFGX are 8.2% in Capital One Financial, 6.9% in Berkshire Hathaway and 6.3% in Wells Fargo.RPFGX’s 3-year and 5-year annualized returns are 6.6% and 5.6%, respectively. Its net expense ratio is 0.94% compared to the category average of 1.08%. RPFGX has a Zacks Mutual Fund Rank #2. To see how this fund performed compared in its category, and other 1 and 2 Ranked Mutual Funds, please click here.Fidelity Select Insurance Portfolio FSPCX seeks capital appreciation. FSPCX usually invests the majority of its net assets in securities of companies principally engaged in underwriting, reinsuring, selling, distributing, and placing insurance. The fund offers dividends and capital gains twice a year in April and December.Peter Deutsch has been the lead manager of FSPCX since May 31, 2013, and 94.3% of the fund is invested in the financial sector. Three top holdings for FSPCX are 9.6% in Chubb Ltd, 9.5% in Marsh & McLennan and 8.6% in The Travelers Companies.FSPCX’s 3-year and 5-year annualized returns are 9.3% and 8.5%, respectively. Its net expense ratio is 0.78% compared to the category average of 1.08%. FSPCX has a Zacks Mutual Fund Rank #1.T. Rowe Price Financial Services Fund, Inc. PRISX seeks long-term growth of capital and a modest level of income. The fund invests most of its net assets in common stocks of companies in the financial services industry, and in companies deriving substantial revenues from conducting business with the industry, such as providers of financial software. The fund offers dividends and capital gains annually in December.Matt Snowling has been the lead manager of PRISX since July 2021, and 84.6% of the fund is invested in the financial sector. Three top holdings for PRISX are 4.3% in Wells Fargo, 4.1% in Bank of America and 3.8% in Chubb Ltd.PRISX’s 3-year and 5-year annualized returns are 10.9% and 9.8%, respectively. Its net expense ratio is 0.80% compared to the category average of 1.29%. PRISX has a Zacks Mutual Fund Rank #1.Want key mutual fund info delivered straight to your inbox?Zacks' free Fund Newsletter will brief you on top news and analysis, as well as top-performing mutual funds, each week. Get it free >> Free: Top Stocks for the $30 Trillion Metaverse Boom The metaverse is a quantum leap for the internet as we currently know it - and it will make some investors rich. Just like the internet, the metaverse is expected to transform how we live, work and play. Zacks has put together a new special report to help readers like you target big profits. The Metaverse - What is it? And How to Profit with These 5 Pioneering Stocks reveals specific stocks set to skyrocket as this emerging technology develops and expands.Download Zacks’ Metaverse Report now >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Get Your Free (FSPCX): Fund Analysis Report Get Your Free (PRISX): Fund Analysis Report Get Your Free (RPFGX): Fund Analysis Report 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.....»»

Category: topSource: zacksAug 18th, 2022Related News

How Are Biotech ETFs Reacting to Q2 Earnings Releases?

he Biotech sector has been in a sweet spot for quite some time now. Plus, earnings releases have also come in mostly upbeat. The Biotech sector has been in a sweet spot for quite some time now. Biotech stocks were huge beneficiaries of the pandemic as many of these companies were developing new vaccines and treatments for Covid-19, leading to a surge in IPOs and venture capital investments. But then the stocks have been beaten down massively only to revive now. iShares Biotechnology ETF IBB is up 7.6% past month (as of Aug 15, 2022).Per FT, hedge funds have started buying beaten-down biotech stocks, since they believe that ultra-cheap valuations could revive M&A activity in the space. Many big pharma companies are looking to boost their drug pipelines through acquisitions (read: Should You Buy Beaten-Down Biotech Stocks & ETFs?).Let’s take a look at some big biotechnological earnings releases to see if these will impact ETFs exposed to the space.Earnings in FocusIn early August, Amgen AMGN reported second-quarter 2022 earnings of $4.65 per share, which beat the Zacks Consensus Estimate of $4.40. In the year-ago quarter, earnings were $1.77 per share. Lower operating expenses and share count boosted earnings in the quarter.Total revenues of $6.59 billion beat the Zacks Consensus Estimate of $6.54 billion. Total revenues rose 1% year over year, driven by growth in product sales, which offset the impact of lower Other revenues.Total product revenues rose 3% from the year-ago quarter to $6.28 billion (U.S.: $4.45 billion; ex-U.S.: $1.84 billion). Higher volumes were offset by lower selling prices of several drugs and currency headwinds. Volumes rose 10% in the quarter, offset by a 6% lower net selling price. Foreign exchange movement hurt sales by 2% in the quarter.Other revenues were $313 million in the quarter, down 24% year over year, primarily due to lower COVID-19 antibody manufacturing collaboration revenues compared to last year’s second quarter. Amgen tightened its previously issued revenue guidance while maintaining its adjusted earnings guidance range.In early August, Gilead Sciences GILD reported strong second-quarter results driven by continued solid demand for its HIV portfolio with further share growth for flagship therapy Biktarvy, and oncology revenues driven by cell therapy and Trodelvy.  Sales of COVID-19 treatment Veklury (remdesivir) declined as predicted but came in better than expected.The company reported earnings of $1.58 per share in the quarter, which beat the Zacks Consensus Estimate of $1.51 but were down from $1.81 in the year-ago quarter. Total product sales were flat at $6.1 billion in the quarter under review. Excluding Veklury, product sales increased 7% year over year to $5.7 billion due to growth in the HIV, Cell Therapy and Trodelvy (sacituzumab govitecan-hziy) businesses.Product sales are now projected between $24.5 billion and $25.0 billion (earlier projection- $23.8–$24.3 billion). Total product sales, excluding Veklury, are expected to be $22.0 billion to $22.5 billion (previous projection: $21.8–$22.3 billion).In late July, Biogen BIIB reported second-quarter 2022 earnings per share (EPS) of $5.25, which significantly beat the Zacks Consensus Estimate of $4.10. In the year-ago quarter, Biogen had recorded earnings of $5.25 per share.Sales came in at $2.59 billion, down 7% on a reported basis (5% on a constant currency basis) from the year-ago quarter, hurt by lower sales of Tecfidera and Spinraza. Sales, however, beat the Zacks Consensus Estimate of $2.47 billion.Product sales in the quarter were $2.05 billion, down 8.1% year over year. Royalties on sales of Roche’s (RHHBY) Ocrevus were $291.9 million in the quarter, up 13.6% year over year.Biotech ETFs in FocusWe believe it is prudent to discuss a few ETFs with a relatively wider exposure to the companies discussed above in the current scenario.iShares Biotechnology ETF IBBIt comprises about 375 holdings, with the companies mentioned above taking about 20% of the fund. It charges 44 bps in fees.VanEck Biotech ETF BBHIt holds about 25 securities in its basket, with the concerned companies having about 25% weight in the fund. IT charges 35 bps in fees. It has gained 5.4% past month.SPDR S&P Biotech ETF XBIIt holds about 150 securities in its basket and puts some weight in-focus companies. XBI is up 12.6% past month. The fund charges 35 bps in fees. 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 Biogen Inc. (BIIB): Free Stock Analysis Report Amgen Inc. (AMGN): Free Stock Analysis Report Gilead Sciences, Inc. (GILD): Free Stock Analysis Report iShares Biotechnology ETF (IBB): ETF Research Reports SPDR S&P Biotech ETF (XBI): ETF Research Reports VanEck Biotech ETF (BBH): ETF Research Reports To read this article on Zacks.com click here. Zacks Investment Research.....»»

Category: topSource: zacksAug 18th, 2022Related News

Is Trending Stock Baidu, Inc. (BIDU) a Buy Now?

Baidu Inc. (BIDU) has been one of the stocks most watched by Zacks.com users lately. So, it is worth exploring what lies ahead for the stock. Baidu Inc. (BIDU) is one of the stocks most watched by Zacks.com visitors lately. So, it might be a good idea to review some of the factors that might affect the near-term performance of the stock.Over the past month, shares of this web search company have returned -5.8%, compared to the Zacks S&P 500 composite's +10.8% change. During this period, the Zacks Internet - Services industry, which Baidu Inc. falls in, has gained 7.8%. The key question now is: What could be the stock's future direction?Although media reports or rumors about a significant change in a company's business prospects usually cause its stock to trend and lead to an immediate price change, there are always certain fundamental factors that ultimately drive the buy-and-hold decision.Revisions to Earnings EstimatesHere at Zacks, we prioritize appraising the change in the projection of a company's future earnings over anything else. That's because we believe the present value of its future stream of earnings is what determines the fair value for its stock.Our analysis is essentially based on how sell-side analysts covering the stock are revising their earnings estimates to take the latest business trends into account. When earnings estimates for a company go up, the fair value for its stock goes up as well. And when a stock's fair value is higher than its current market price, investors tend to buy the stock, resulting in its price moving upward. Because of this, empirical studies indicate a strong correlation between trends in earnings estimate revisions and short-term stock price movements.Baidu Inc. is expected to post earnings of $1.63 per share for the current quarter, representing a year-over-year change of -31.8%. Over the last 30 days, the Zacks Consensus Estimate remained unchanged.For the current fiscal year, the consensus earnings estimate of $7.88 points to a change of -6.2% from the prior year. Over the last 30 days, this estimate has remained unchanged.For the next fiscal year, the consensus earnings estimate of $10.39 indicates a change of +31.8% from what Baidu Inc. is expected to report a year ago. Over the past month, the estimate has remained unchanged.Having a strong externally audited track record, our proprietary stock rating tool, the Zacks Rank, offers a more conclusive picture of a stock's price direction in the near term, since it effectively harnesses the power of earnings estimate revisions. Due to the size of the recent change in the consensus estimate, along with three other factors related to earnings estimates, Baidu Inc. is rated Zacks Rank #3 (Hold).The chart below shows the evolution of the company's forward 12-month consensus EPS estimate:12 Month EPSRevenue Growth ForecastWhile earnings growth is arguably the most superior indicator of a company's financial health, nothing happens as such if a business isn't able to grow its revenues. After all, it's nearly impossible for a company to increase its earnings for an extended period without increasing its revenues. So, it's important to know a company's potential revenue growth.For Baidu Inc. the consensus sales estimate for the current quarter of $4.12 billion indicates a year-over-year change of -15.2%. For the current and next fiscal years, $19.67 billion and $22.27 billion estimates indicate +1.9% and +13.3% changes, respectively.Last Reported Results and Surprise HistoryBaidu Inc. reported revenues of $4.48 billion in the last reported quarter, representing a year-over-year change of +4.4%. EPS of $1.77 for the same period compares with $1.89 a year ago.Compared to the Zacks Consensus Estimate of $4.37 billion, the reported revenues represent a surprise of +2.57%. The EPS surprise was +132.89%.The company beat consensus EPS estimates in each of the trailing four quarters. The company topped consensus revenue estimates each time over this period.ValuationNo investment decision can be efficient without considering a stock's valuation. Whether a stock's current price rightly reflects the intrinsic value of the underlying business and the company's growth prospects is an essential determinant of its future price performance.While comparing the current values of a company's valuation multiples, such as price-to-earnings (P/E), price-to-sales (P/S) and price-to-cash flow (P/CF), with its own historical values helps determine whether its stock is fairly valued, overvalued, or undervalued, comparing the company relative to its peers on these parameters gives a good sense of the reasonability of the stock's price.As part of the Zacks Style Scores system, the Zacks Value Style Score (which evaluates both traditional and unconventional valuation metrics) organizes stocks into five groups ranging from A to F (A is better than B; B is better than C; and so on), making it helpful in identifying whether a stock is overvalued, rightly valued, or temporarily undervalued.Baidu Inc. is graded A on this front, indicating that it is trading at a discount to its peers. Click here to see the values of some of the valuation metrics that have driven this grade.Bottom LineThe facts discussed here and much other information on Zacks.com might help determine whether or not it's worthwhile paying attention to the market buzz about Baidu Inc. However, its Zacks Rank #3 does suggest that it may perform in line with the broader market in the near term. Free: Top Stocks for the $30 Trillion Metaverse Boom The metaverse is a quantum leap for the internet as we currently know it - and it will make some investors rich. Just like the internet, the metaverse is expected to transform how we live, work and play. Zacks has put together a new special report to help readers like you target big profits. The Metaverse - What is it? And How to Profit with These 5 Pioneering Stocks reveals specific stocks set to skyrocket as this emerging technology develops and expands.Download Zacks’ Metaverse Report now >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Baidu, Inc. (BIDU): Free Stock Analysis Report To read this article on Zacks.com click here......»»

Category: topSource: zacksAug 18th, 2022Related News

Is Trending Stock Matson, Inc. (MATX) a Buy Now?

Matson (MATX) has received quite a bit of attention from Zacks.com users lately. Therefore, it is wise to be aware of the facts that can impact the stock's prospects. Matson (MATX) has been one of the most searched-for stocks on Zacks.com lately. So, you might want to look at some of the facts that could shape the stock's performance in the near term.Over the past month, shares of this ocean transportation and logistics services company have returned -7.4%, compared to the Zacks S&P 500 composite's +10.8% change. During this period, the Zacks Transportation - Services industry, which Matson falls in, has gained 13.4%. The key question now is: What could be the stock's future direction?While media releases or rumors about a substantial change in a company's business prospects usually make its stock 'trending' and lead to an immediate price change, there are always some fundamental facts that eventually dominate the buy-and-hold decision-making.Revisions to Earnings EstimatesRather than focusing on anything else, we at Zacks prioritize evaluating the change in a company's earnings projection. This is because we believe the fair value for its stock is determined by the present value of its future stream of earnings.Our analysis is essentially based on how sell-side analysts covering the stock are revising their earnings estimates to take the latest business trends into account. When earnings estimates for a company go up, the fair value for its stock goes up as well. And when a stock's fair value is higher than its current market price, investors tend to buy the stock, resulting in its price moving upward. Because of this, empirical studies indicate a strong correlation between trends in earnings estimate revisions and short-term stock price movements.Matson is expected to post earnings of $7.62 per share for the current quarter, representing a year-over-year change of +16.7%. Over the last 30 days, the Zacks Consensus Estimate has changed +10.6%.The consensus earnings estimate of $29.88 for the current fiscal year indicates a year-over-year change of +39.2%. This estimate has changed +3.6% over the last 30 days.For the next fiscal year, the consensus earnings estimate of $11.03 indicates a change of -63.1% from what Matson is expected to report a year ago. Over the past month, the estimate has changed -3.4%.With an impressive externally audited track record, our proprietary stock rating tool -- the Zacks Rank -- is a more conclusive indicator of a stock's near-term price performance, as it effectively harnesses the power of earnings estimate revisions. The size of the recent change in the consensus estimate, along with three other factors related to earnings estimates, has resulted in a Zacks Rank #3 (Hold) for Matson.The chart below shows the evolution of the company's forward 12-month consensus EPS estimate:12 Month EPSRevenue Growth ForecastWhile earnings growth is arguably the most superior indicator of a company's financial health, nothing happens as such if a business isn't able to grow its revenues. After all, it's nearly impossible for a company to increase its earnings for an extended period without increasing its revenues. So, it's important to know a company's potential revenue growth.For Matson, the consensus sales estimate for the current quarter of $1.16 billion indicates a year-over-year change of +7.9%. For the current and next fiscal years, $4.53 billion and $3.22 billion estimates indicate +15.5% and -28.9% changes, respectively.Last Reported Results and Surprise HistoryMatson reported revenues of $1.26 billion in the last reported quarter, representing a year-over-year change of +44.1%. EPS of $9.49 for the same period compares with $3.71 a year ago.Compared to the Zacks Consensus Estimate of $1.35 billion, the reported revenues represent a surprise of -6.45%. The EPS surprise was +1.17%.Over the last four quarters, Matson surpassed consensus EPS estimates three times. The company topped consensus revenue estimates two times over this period.ValuationWithout considering a stock's valuation, no investment decision can be efficient. In predicting a stock's future price performance, it's crucial to determine whether its current price correctly reflects the intrinsic value of the underlying business and the company's growth prospects.While comparing the current values of a company's valuation multiples, such as price-to-earnings (P/E), price-to-sales (P/S) and price-to-cash flow (P/CF), with its own historical values helps determine whether its stock is fairly valued, overvalued, or undervalued, comparing the company relative to its peers on these parameters gives a good sense of the reasonability of the stock's price.The Zacks Value Style Score (part of the Zacks Style Scores system), which pays close attention to both traditional and unconventional valuation metrics to grade stocks from A to F (an An is better than a B; a B is better than a C; and so on), is pretty helpful in identifying whether a stock is overvalued, rightly valued, or temporarily undervalued.Matson is graded A on this front, indicating that it is trading at a discount to its peers. Click here to see the values of some of the valuation metrics that have driven this grade.Bottom LineThe facts discussed here and much other information on Zacks.com might help determine whether or not it's worthwhile paying attention to the market buzz about Matson. However, its Zacks Rank #3 does suggest that it may perform in line with the broader market in the near term. Free: Top Stocks for the $30 Trillion Metaverse Boom The metaverse is a quantum leap for the internet as we currently know it - and it will make some investors rich. Just like the internet, the metaverse is expected to transform how we live, work and play. Zacks has put together a new special report to help readers like you target big profits. The Metaverse - What is it? And How to Profit with These 5 Pioneering Stocks reveals specific stocks set to skyrocket as this emerging technology develops and expands.Download Zacks’ Metaverse Report now >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Matson, Inc. (MATX): Free Stock Analysis Report To read this article on Zacks.com click here......»»

Category: topSource: zacksAug 18th, 2022Related News

Is Trending Stock Altria Group, Inc. (MO) a Buy Now?

Altria (MO) has received quite a bit of attention from Zacks.com users lately. Therefore, it is wise to be aware of the facts that can impact the stock's prospects. Altria (MO) has been one of the most searched-for stocks on Zacks.com lately. So, you might want to look at some of the facts that could shape the stock's performance in the near term.Over the past month, shares of this owner of Philip Morris USA, the nation's largest cigarette maker have returned +7.4%, compared to the Zacks S&P 500 composite's +10.8% change. During this period, the Zacks Tobacco industry, which Altria falls in, has gained 7.5%. The key question now is: What could be the stock's future direction?While media releases or rumors about a substantial change in a company's business prospects usually make its stock 'trending' and lead to an immediate price change, there are always some fundamental facts that eventually dominate the buy-and-hold decision-making.Revisions to Earnings EstimatesRather than focusing on anything else, we at Zacks prioritize evaluating the change in a company's earnings projection. This is because we believe the fair value for its stock is determined by the present value of its future stream of earnings.Our analysis is essentially based on how sell-side analysts covering the stock are revising their earnings estimates to take the latest business trends into account. When earnings estimates for a company go up, the fair value for its stock goes up as well. And when a stock's fair value is higher than its current market price, investors tend to buy the stock, resulting in its price moving upward. Because of this, empirical studies indicate a strong correlation between trends in earnings estimate revisions and short-term stock price movements.Altria is expected to post earnings of $1.32 per share for the current quarter, representing a year-over-year change of +8.2%. Over the last 30 days, the Zacks Consensus Estimate has changed -0.3%.The consensus earnings estimate of $4.86 for the current fiscal year indicates a year-over-year change of +5.4%. This estimate has changed +0.6% over the last 30 days.For the next fiscal year, the consensus earnings estimate of $5.12 indicates a change of +5.3% from what Altria is expected to report a year ago. Over the past month, the estimate has changed +0.1%.With an impressive externally audited track record, our proprietary stock rating tool -- the Zacks Rank -- is a more conclusive indicator of a stock's near-term price performance, as it effectively harnesses the power of earnings estimate revisions. The size of the recent change in the consensus estimate, along with three other factors related to earnings estimates, has resulted in a Zacks Rank #3 (Hold) for Altria.The chart below shows the evolution of the company's forward 12-month consensus EPS estimate:12 Month EPSRevenue Growth ForecastWhile earnings growth is arguably the most superior indicator of a company's financial health, nothing happens as such if a business isn't able to grow its revenues. After all, it's nearly impossible for a company to increase its earnings for an extended period without increasing its revenues. So, it's important to know a company's potential revenue growth.For Altria, the consensus sales estimate for the current quarter of $5.65 billion indicates a year-over-year change of +2.1%. For the current and next fiscal years, $20.85 billion and $21.06 billion estimates indicate -1.2% and +1% changes, respectively.Last Reported Results and Surprise HistoryAltria reported revenues of $5.37 billion in the last reported quarter, representing a year-over-year change of -4.3%. EPS of $1.26 for the same period compares with $1.23 a year ago.Compared to the Zacks Consensus Estimate of $5.4 billion, the reported revenues represent a surprise of -0.42%. The EPS surprise was +0.8%.Over the last four quarters, Altria surpassed consensus EPS estimates two times. The company topped consensus revenue estimates two times over this period.ValuationWithout considering a stock's valuation, no investment decision can be efficient. In predicting a stock's future price performance, it's crucial to determine whether its current price correctly reflects the intrinsic value of the underlying business and the company's growth prospects.While comparing the current values of a company's valuation multiples, such as price-to-earnings (P/E), price-to-sales (P/S) and price-to-cash flow (P/CF), with its own historical values helps determine whether its stock is fairly valued, overvalued, or undervalued, comparing the company relative to its peers on these parameters gives a good sense of the reasonability of the stock's price.The Zacks Value Style Score (part of the Zacks Style Scores system), which pays close attention to both traditional and unconventional valuation metrics to grade stocks from A to F (an An is better than a B; a B is better than a C; and so on), is pretty helpful in identifying whether a stock is overvalued, rightly valued, or temporarily undervalued.Altria is graded C on this front, indicating that it is trading at par with its peers. Click here to see the values of some of the valuation metrics that have driven this grade.Bottom LineThe facts discussed here and much other information on Zacks.com might help determine whether or not it's worthwhile paying attention to the market buzz about Altria. However, its Zacks Rank #3 does suggest that it may perform in line with the broader market in the near term. Free: Top Stocks for the $30 Trillion Metaverse Boom The metaverse is a quantum leap for the internet as we currently know it - and it will make some investors rich. Just like the internet, the metaverse is expected to transform how we live, work and play. Zacks has put together a new special report to help readers like you target big profits. The Metaverse - What is it? And How to Profit with These 5 Pioneering Stocks reveals specific stocks set to skyrocket as this emerging technology develops and expands.Download Zacks’ Metaverse Report now >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Altria Group, Inc. (MO): Free Stock Analysis Report To read this article on Zacks.com click here......»»

Category: topSource: zacksAug 18th, 2022Related News

JPMorgan Chase & Co. (JPM) Is a Trending Stock: Facts to Know Before Betting on It

Zacks.com users have recently been watching JPMorgan Chase & Co. (JPM) quite a bit. Thus, it is worth knowing the facts that could determine the stock's prospects. JPMorgan Chase & Co. (JPM) has recently been on Zacks.com's list of the most searched stocks. Therefore, you might want to consider some of the key factors that could influence the stock's performance in the near future.Over the past month, shares of this company have returned +7%, compared to the Zacks S&P 500 composite's +10.8% change. During this period, the Zacks Banks - Major Regional industry, which JPMorgan Chase & Co. falls in, has gained 10.4%. The key question now is: What could be the stock's future direction?Although media reports or rumors about a significant change in a company's business prospects usually cause its stock to trend and lead to an immediate price change, there are always certain fundamental factors that ultimately drive the buy-and-hold decision.Earnings Estimate RevisionsHere at Zacks, we prioritize appraising the change in the projection of a company's future earnings over anything else. That's because we believe the present value of its future stream of earnings is what determines the fair value for its stock.Our analysis is essentially based on how sell-side analysts covering the stock are revising their earnings estimates to take the latest business trends into account. When earnings estimates for a company go up, the fair value for its stock goes up as well. And when a stock's fair value is higher than its current market price, investors tend to buy the stock, resulting in its price moving upward. Because of this, empirical studies indicate a strong correlation between trends in earnings estimate revisions and short-term stock price movements.For the current quarter, JPMorgan Chase & Co. is expected to post earnings of $2.94 per share, indicating a change of -21.4% from the year-ago quarter. The Zacks Consensus Estimate has changed -0.3% over the last 30 days.The consensus earnings estimate of $11.26 for the current fiscal year indicates a year-over-year change of -26.7%. This estimate has changed +0.1% over the last 30 days.For the next fiscal year, the consensus earnings estimate of $12.86 indicates a change of +14.2% from what JPMorgan Chase & Co. is expected to report a year ago. Over the past month, the estimate has changed +0.1%.Having a strong externally audited track record, our proprietary stock rating tool, the Zacks Rank, offers a more conclusive picture of a stock's price direction in the near term, since it effectively harnesses the power of earnings estimate revisions. Due to the size of the recent change in the consensus estimate, along with three other factors related to earnings estimates, JPMorgan Chase & Co. is rated Zacks Rank #3 (Hold).The chart below shows the evolution of the company's forward 12-month consensus EPS estimate:12 Month EPSProjected Revenue GrowthWhile earnings growth is arguably the most superior indicator of a company's financial health, nothing happens as such if a business isn't able to grow its revenues. After all, it's nearly impossible for a company to increase its earnings for an extended period without increasing its revenues. So, it's important to know a company's potential revenue growth.In the case of JPMorgan Chase & Co. the consensus sales estimate of $32.13 billion for the current quarter points to a year-over-year change of +8.4%. The $126.78 billion and $138.13 billion estimates for the current and next fiscal years indicate changes of +4.2% and +9%, respectively.Last Reported Results and Surprise HistoryJPMorgan Chase & Co. reported revenues of $30.72 billion in the last reported quarter, representing a year-over-year change of +0.8%. EPS of $2.76 for the same period compares with $3.78 a year ago.Compared to the Zacks Consensus Estimate of $31.68 billion, the reported revenues represent a surprise of -3.05%. The EPS surprise was -3.16%.Over the last four quarters, JPMorgan Chase & Co. surpassed consensus EPS estimates two times. The company topped consensus revenue estimates just once over this period.ValuationNo investment decision can be efficient without considering a stock's valuation. Whether a stock's current price rightly reflects the intrinsic value of the underlying business and the company's growth prospects is an essential determinant of its future price performance.Comparing the current value of a company's valuation multiples, such as its price-to-earnings (P/E), price-to-sales (P/S), and price-to-cash flow (P/CF), to its own historical values helps ascertain whether its stock is fairly valued, overvalued, or undervalued, whereas comparing the company relative to its peers on these parameters gives a good sense of how reasonable its stock price is.The Zacks Value Style Score (part of the Zacks Style Scores system), which pays close attention to both traditional and unconventional valuation metrics to grade stocks from A to F (an An is better than a B; a B is better than a C; and so on), is pretty helpful in identifying whether a stock is overvalued, rightly valued, or temporarily undervalued.JPMorgan Chase & Co. is graded C on this front, indicating that it is trading at par with its peers. Click here to see the values of some of the valuation metrics that have driven this grade.Bottom LineThe facts discussed here and much other information on Zacks.com might help determine whether or not it's worthwhile paying attention to the market buzz about JPMorgan Chase & Co. However, its Zacks Rank #3 does suggest that it may perform in line with the broader market in the near term. Free: Top Stocks for the $30 Trillion Metaverse Boom The metaverse is a quantum leap for the internet as we currently know it - and it will make some investors rich. Just like the internet, the metaverse is expected to transform how we live, work and play. Zacks has put together a new special report to help readers like you target big profits. The Metaverse - What is it? And How to Profit with These 5 Pioneering Stocks reveals specific stocks set to skyrocket as this emerging technology develops and expands.Download Zacks’ Metaverse Report now >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report JPMorgan Chase & Co. (JPM): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research.....»»

Category: topSource: zacksAug 18th, 2022Related News

Investors Heavily Search Cenovus Energy Inc (CVE): Here is What You Need to Know

Zacks.com users have recently been watching Cenovus (CVE) quite a bit. Thus, it is worth knowing the facts that could determine the stock's prospects. Cenovus Energy (CVE) has recently been on Zacks.com's list of the most searched stocks. Therefore, you might want to consider some of the key factors that could influence the stock's performance in the near future.Over the past month, shares of this oil company have returned +1%, compared to the Zacks S&P 500 composite's +10.8% change. During this period, the Zacks Oil and Gas - Integrated - Canadian industry, which Cenovus falls in, has gained 8.3%. The key question now is: What could be the stock's future direction?Although media reports or rumors about a significant change in a company's business prospects usually cause its stock to trend and lead to an immediate price change, there are always certain fundamental factors that ultimately drive the buy-and-hold decision.Earnings Estimate RevisionsHere at Zacks, we prioritize appraising the change in the projection of a company's future earnings over anything else. That's because we believe the present value of its future stream of earnings is what determines the fair value for its stock.Our analysis is essentially based on how sell-side analysts covering the stock are revising their earnings estimates to take the latest business trends into account. When earnings estimates for a company go up, the fair value for its stock goes up as well. And when a stock's fair value is higher than its current market price, investors tend to buy the stock, resulting in its price moving upward. Because of this, empirical studies indicate a strong correlation between trends in earnings estimate revisions and short-term stock price movements.For the current quarter, Cenovus is expected to post earnings of $0.96 per share, indicating a change of +357.1% from the year-ago quarter. The Zacks Consensus Estimate has changed +14.3% over the last 30 days.The consensus earnings estimate of $3.41 for the current fiscal year indicates a year-over-year change of +321%. This estimate has changed +13.1% over the last 30 days.For the next fiscal year, the consensus earnings estimate of $3.28 indicates a change of -3.8% from what Cenovus is expected to report a year ago. Over the past month, the estimate has changed +13.5%.Having a strong externally audited track record, our proprietary stock rating tool, the Zacks Rank, offers a more conclusive picture of a stock's price direction in the near term, since it effectively harnesses the power of earnings estimate revisions. Due to the size of the recent change in the consensus estimate, along with three other factors related to earnings estimates, Cenovus is rated Zacks Rank #1 (Strong Buy).The chart below shows the evolution of the company's forward 12-month consensus EPS estimate:12 Month EPSProjected Revenue GrowthWhile earnings growth is arguably the most superior indicator of a company's financial health, nothing happens as such if a business isn't able to grow its revenues. After all, it's nearly impossible for a company to increase its earnings for an extended period without increasing its revenues. So, it's important to know a company's potential revenue growth.In the case of Cenovus, the consensus sales estimate of $12.64 billion for the current quarter points to a year-over-year change of +18.5%. The $50.63 billion and $46.16 billion estimates for the current and next fiscal years indicate changes of +34.4% and -8.8%, respectively.Last Reported Results and Surprise HistoryCenovus reported revenues of $15.02 billion in the last reported quarter, representing a year-over-year change of +74.4%. EPS of $0.93 for the same period compares with $0.09 a year ago.Compared to the Zacks Consensus Estimate of $13.16 billion, the reported revenues represent a surprise of +14.13%. The EPS surprise was +4.49%.Over the last four quarters, Cenovus surpassed consensus EPS estimates two times. The company topped consensus revenue estimates three times over this period.ValuationNo investment decision can be efficient without considering a stock's valuation. Whether a stock's current price rightly reflects the intrinsic value of the underlying business and the company's growth prospects is an essential determinant of its future price performance.Comparing the current value of a company's valuation multiples, such as its price-to-earnings (P/E), price-to-sales (P/S), and price-to-cash flow (P/CF), to its own historical values helps ascertain whether its stock is fairly valued, overvalued, or undervalued, whereas comparing the company relative to its peers on these parameters gives a good sense of how reasonable its stock price is.The Zacks Value Style Score (part of the Zacks Style Scores system), which pays close attention to both traditional and unconventional valuation metrics to grade stocks from A to F (an An is better than a B; a B is better than a C; and so on), is pretty helpful in identifying whether a stock is overvalued, rightly valued, or temporarily undervalued.Cenovus is graded B on this front, indicating that it is trading at a discount to its peers. Click here to see the values of some of the valuation metrics that have driven this grade.Bottom LineThe facts discussed here and much other information on Zacks.com might help determine whether or not it's worthwhile paying attention to the market buzz about Cenovus. However, its Zacks Rank #1 does suggest that it may outperform the broader market in the near term. Free: Top Stocks for the $30 Trillion Metaverse Boom The metaverse is a quantum leap for the internet as we currently know it - and it will make some investors rich. Just like the internet, the metaverse is expected to transform how we live, work and play. Zacks has put together a new special report to help readers like you target big profits. The Metaverse - What is it? And How to Profit with These 5 Pioneering Stocks reveals specific stocks set to skyrocket as this emerging technology develops and expands.Download Zacks’ Metaverse Report now >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Cenovus Energy Inc (CVE): Free Stock Analysis Report To read this article on Zacks.com click here......»»

Category: topSource: zacksAug 18th, 2022Related News

Is Most-Watched Stock Equinor ASA (EQNR) Worth Betting on Now?

Zacks.com users have recently been watching Equinor (EQNR) quite a bit. Thus, it is worth knowing the facts that could determine the stock's prospects. Equinor (EQNR) has recently been on Zacks.com's list of the most searched stocks. Therefore, you might want to consider some of the key factors that could influence the stock's performance in the near future.Over the past month, shares of this oil and gas company have returned +7.4%, compared to the Zacks S&P 500 composite's +10.8% change. During this period, the Zacks Oil and Gas - Refining and Marketing industry, which Equinor falls in, has gained 13.8%. The key question now is: What could be the stock's future direction?Although media reports or rumors about a significant change in a company's business prospects usually cause its stock to trend and lead to an immediate price change, there are always certain fundamental factors that ultimately drive the buy-and-hold decision.Earnings Estimate RevisionsHere at Zacks, we prioritize appraising the change in the projection of a company's future earnings over anything else. That's because we believe the present value of its future stream of earnings is what determines the fair value for its stock.Our analysis is essentially based on how sell-side analysts covering the stock are revising their earnings estimates to take the latest business trends into account. When earnings estimates for a company go up, the fair value for its stock goes up as well. And when a stock's fair value is higher than its current market price, investors tend to buy the stock, resulting in its price moving upward. Because of this, empirical studies indicate a strong correlation between trends in earnings estimate revisions and short-term stock price movements.For the current quarter, Equinor is expected to post earnings of $1.38 per share, indicating a change of +62.4% from the year-ago quarter. The Zacks Consensus Estimate has changed +6.2% over the last 30 days.The consensus earnings estimate of $6.31 for the current fiscal year indicates a year-over-year change of +104.9%. This estimate has changed +2.7% over the last 30 days.For the next fiscal year, the consensus earnings estimate of $4.92 indicates a change of -22.1% from what Equinor is expected to report a year ago. Over the past month, the estimate has changed +3.6%.Having a strong externally audited track record, our proprietary stock rating tool, the Zacks Rank, offers a more conclusive picture of a stock's price direction in the near term, since it effectively harnesses the power of earnings estimate revisions. Due to the size of the recent change in the consensus estimate, along with three other factors related to earnings estimates, Equinor is rated Zacks Rank #1 (Strong Buy).The chart below shows the evolution of the company's forward 12-month consensus EPS estimate:12 Month EPSProjected Revenue GrowthWhile earnings growth is arguably the most superior indicator of a company's financial health, nothing happens as such if a business isn't able to grow its revenues. After all, it's nearly impossible for a company to increase its earnings for an extended period without increasing its revenues. So, it's important to know a company's potential revenue growth.In the case of Equinor, the consensus sales estimate of $57.68 billion for the current quarter points to a year-over-year change of +147.9%. The $203.84 billion and $179.52 billion estimates for the current and next fiscal years indicate changes of +127.9% and -11.9%, respectively.Last Reported Results and Surprise HistoryEquinor reported revenues of $36.39 billion in the last reported quarter, representing a year-over-year change of +108.4%. EPS of $1.56 for the same period compares with $0.49 a year ago.Compared to the Zacks Consensus Estimate of $50.49 billion, the reported revenues represent a surprise of -27.94%. The EPS surprise was +8.33%.The company beat consensus EPS estimates in each of the trailing four quarters. The company could not beat consensus revenue estimates in any of the last four quarters.ValuationNo investment decision can be efficient without considering a stock's valuation. Whether a stock's current price rightly reflects the intrinsic value of the underlying business and the company's growth prospects is an essential determinant of its future price performance.Comparing the current value of a company's valuation multiples, such as its price-to-earnings (P/E), price-to-sales (P/S), and price-to-cash flow (P/CF), to its own historical values helps ascertain whether its stock is fairly valued, overvalued, or undervalued, whereas comparing the company relative to its peers on these parameters gives a good sense of how reasonable its stock price is.The Zacks Value Style Score (part of the Zacks Style Scores system), which pays close attention to both traditional and unconventional valuation metrics to grade stocks from A to F (an An is better than a B; a B is better than a C; and so on), is pretty helpful in identifying whether a stock is overvalued, rightly valued, or temporarily undervalued.Equinor is graded A on this front, indicating that it is trading at a discount to its peers. Click here to see the values of some of the valuation metrics that have driven this grade.Bottom LineThe facts discussed here and much other information on Zacks.com might help determine whether or not it's worthwhile paying attention to the market buzz about Equinor. However, its Zacks Rank #1 does suggest that it may outperform the broader market in the near term. Free: Top Stocks for the $30 Trillion Metaverse Boom The metaverse is a quantum leap for the internet as we currently know it - and it will make some investors rich. Just like the internet, the metaverse is expected to transform how we live, work and play. Zacks has put together a new special report to help readers like you target big profits. The Metaverse - What is it? And How to Profit with These 5 Pioneering Stocks reveals specific stocks set to skyrocket as this emerging technology develops and expands.Download Zacks’ Metaverse Report now >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Equinor ASA (EQNR): Free Stock Analysis Report To read this article on Zacks.com click here......»»

Category: topSource: zacksAug 18th, 2022Related News

Is Trending Stock Schlumberger Limited (SLB) a Buy Now?

Zacks.com users have recently been watching Schlumberger (SLB) quite a bit. Thus, it is worth knowing the facts that could determine the stock's prospects. Schlumberger (SLB) has recently been on Zacks.com's list of the most searched stocks. Therefore, you might want to consider some of the key factors that could influence the stock's performance in the near future.Over the past month, shares of this world's largest oilfield services company have returned +3.7%, compared to the Zacks S&P 500 composite's +10.8% change. During this period, the Zacks Oil and Gas - Field Services industry, which Schlumberger falls in, has gained 8.7%. The key question now is: What could be the stock's future direction?Although media reports or rumors about a significant change in a company's business prospects usually cause its stock to trend and lead to an immediate price change, there are always certain fundamental factors that ultimately drive the buy-and-hold decision.Earnings Estimate RevisionsHere at Zacks, we prioritize appraising the change in the projection of a company's future earnings over anything else. That's because we believe the present value of its future stream of earnings is what determines the fair value for its stock.Our analysis is essentially based on how sell-side analysts covering the stock are revising their earnings estimates to take the latest business trends into account. When earnings estimates for a company go up, the fair value for its stock goes up as well. And when a stock's fair value is higher than its current market price, investors tend to buy the stock, resulting in its price moving upward. Because of this, empirical studies indicate a strong correlation between trends in earnings estimate revisions and short-term stock price movements.For the current quarter, Schlumberger is expected to post earnings of $0.54 per share, indicating a change of +50% from the year-ago quarter. The Zacks Consensus Estimate has changed +6.8% over the last 30 days.The consensus earnings estimate of $2.02 for the current fiscal year indicates a year-over-year change of +57.8%. This estimate has changed +8.5% over the last 30 days.For the next fiscal year, the consensus earnings estimate of $2.76 indicates a change of +36.8% from what Schlumberger is expected to report a year ago. Over the past month, the estimate has changed +6%.Having a strong externally audited track record, our proprietary stock rating tool, the Zacks Rank, offers a more conclusive picture of a stock's price direction in the near term, since it effectively harnesses the power of earnings estimate revisions. Due to the size of the recent change in the consensus estimate, along with three other factors related to earnings estimates, Schlumberger is rated Zacks Rank #2 (Buy).The chart below shows the evolution of the company's forward 12-month consensus EPS estimate:12 Month EPSProjected Revenue GrowthWhile earnings growth is arguably the most superior indicator of a company's financial health, nothing happens as such if a business isn't able to grow its revenues. After all, it's nearly impossible for a company to increase its earnings for an extended period without increasing its revenues. So, it's important to know a company's potential revenue growth.In the case of Schlumberger, the consensus sales estimate of $7.1 billion for the current quarter points to a year-over-year change of +21.5%. The $27.25 billion and $30.97 billion estimates for the current and next fiscal years indicate changes of +18.9% and +13.7%, respectively.Last Reported Results and Surprise HistorySchlumberger reported revenues of $6.77 billion in the last reported quarter, representing a year-over-year change of +20.2%. EPS of $0.50 for the same period compares with $0.30 a year ago.Compared to the Zacks Consensus Estimate of $6.28 billion, the reported revenues represent a surprise of +7.8%. The EPS surprise was +25%.Over the last four quarters, Schlumberger surpassed consensus EPS estimates three times. The company topped consensus revenue estimates three times over this period.ValuationNo investment decision can be efficient without considering a stock's valuation. Whether a stock's current price rightly reflects the intrinsic value of the underlying business and the company's growth prospects is an essential determinant of its future price performance.Comparing the current value of a company's valuation multiples, such as its price-to-earnings (P/E), price-to-sales (P/S), and price-to-cash flow (P/CF), to its own historical values helps ascertain whether its stock is fairly valued, overvalued, or undervalued, whereas comparing the company relative to its peers on these parameters gives a good sense of how reasonable its stock price is.The Zacks Value Style Score (part of the Zacks Style Scores system), which pays close attention to both traditional and unconventional valuation metrics to grade stocks from A to F (an An is better than a B; a B is better than a C; and so on), is pretty helpful in identifying whether a stock is overvalued, rightly valued, or temporarily undervalued.Schlumberger is graded B on this front, indicating that it is trading at a discount to its peers. Click here to see the values of some of the valuation metrics that have driven this grade.Bottom LineThe facts discussed here and much other information on Zacks.com might help determine whether or not it's worthwhile paying attention to the market buzz about Schlumberger. However, its Zacks Rank #2 does suggest that it may outperform the broader market in the near term. Free: Top Stocks for the $30 Trillion Metaverse Boom The metaverse is a quantum leap for the internet as we currently know it - and it will make some investors rich. Just like the internet, the metaverse is expected to transform how we live, work and play. Zacks has put together a new special report to help readers like you target big profits. The Metaverse - What is it? And How to Profit with These 5 Pioneering Stocks reveals specific stocks set to skyrocket as this emerging technology develops and expands.Download Zacks’ Metaverse Report now >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Schlumberger Limited (SLB): Free Stock Analysis Report To read this article on Zacks.com click here......»»

Category: topSource: zacksAug 18th, 2022Related News

2 ETFs With Outsized Volume on Consumer & Dividend

RCD and DGRW saw massive volumes in yesterday trading session. In the last trading session, Wall Street closed lower due to a decline in the technology sector. Among the top ETFs, SPY lost 0.7% and DIA shed 0.5%, while QQQ moved 1.1% lower on the day.Two more specialized ETFs are worth noting as both saw trading volume that was far outside of normal. In fact, both these funds experienced volume levels that were more than double their average for the most-recent trading session. This could make these ETFs the ones to watch out for in the days ahead to see if this trend of extra-interest continues.RCD: Volume 10.53 Times AverageThis consumer discretionary ETF was in the spotlight as around 394,000 shares moved hands compared with an average of 43,000 shares a day. We also saw some price movement as RCD lost 1.5% in the last session.The move was largely due to earnings releases from retailers that could have a big impact on consumer ETFs like the ones we find in this ETF portfolio. RCD has gained 15.3% over the past month and has a Zacks ETF Rank #3 (Hold) with a Medium risk outlook.DGRW: Volume 6 Times AverageThis dividend growth ETF was under the microscope as nearly 3 million shares moved hands. This compares with an average trading volume of roughly 540,000 shares and came as DGRW shed 0.4% in the last trading session.The movement can largely be blamed on volatility and uncertainty that has raised the appeal for dividend investing. Dividend ETFs are major sources of consistent income for investors in any type of market though they do not offer dramatic price appreciation. DGRW has gained 8.7% in a month’s time and has a Zacks ETF Rank #2 (Buy) with a Medium risk outlook. 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 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 WisdomTree U.S. Quality Dividend Growth ETF (DGRW): ETF Research Reports Invesco S&P 500 Equal Weight Consumer Discretionary ETF (RCD): ETF Research Reports To read this article on Zacks.com click here. Zacks Investment Research.....»»

Category: topSource: zacksAug 18th, 2022Related News

Is CI Financial (CIXX) a Great Value Stock Right Now?

Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks. Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.Looking at the history of these trends, perhaps none is more beloved than value investing. This strategy simply looks to identify companies that are being undervalued by the broader market. Value investors use tried-and-true metrics and fundamental analysis to find companies that they believe are undervalued at their current share price levels.Luckily, Zacks has developed its own Style Scores system in an effort to find stocks with specific traits. Value investors will be interested in the system's "Value" category. Stocks with both "A" grades in the Value category and high Zacks Ranks are among the strongest value stocks on the market right now.One company to watch right now is CI Financial (CIXX). CIXX is currently sporting a Zacks Rank of #2 (Buy) and an A for Value. The stock is trading with a P/E ratio of 5.01, which compares to its industry's average of 11.36. Over the past year, CIXX's Forward P/E has been as high as 8.95 and as low as 3.65, with a median of 6.18.Investors should also note that CIXX holds a PEG ratio of 0.63. This figure is similar to the commonly-used P/E ratio, with the PEG ratio also factoring in a company's expected earnings growth rate. CIXX's PEG compares to its industry's average PEG of 0.84. CIXX's PEG has been as high as 1.12 and as low as 0.46, with a median of 0.77, all within the past year.Investors should also recognize that CIXX has a P/B ratio of 1.77. The P/B is a method of comparing a stock's market value to its book value, which is defined as total assets minus total liabilities. This stock's P/B looks solid versus its industry's average P/B of 3.09. Over the past year, CIXX's P/B has been as high as 3.89 and as low as 1.46, with a median of 2.78.Value investors also love the P/S ratio, which is calculated by simply dividing a stock's price with the company's sales. This is a prefered metric because revenue can't really be manipulated, so sales are often a truer performance indicator. CIXX has a P/S ratio of 1.12. This compares to its industry's average P/S of 1.86.Finally, our model also underscores that CIXX has a P/CF ratio of 4.93. This metric focuses on a firm's operating cash flow and is often used to find stocks that are undervalued based on the strength of their cash outlook. This stock's P/CF looks attractive against its industry's average P/CF of 16.83. Over the past 52 weeks, CIXX's P/CF has been as high as 10.50 and as low as 4.06, with a median of 6.51.These are just a handful of the figures considered in CI Financial's great Value grade. Still, they help show that the stock is likely being undervalued at the moment. Add this to the strength of its earnings outlook, and we can clearly see that CIXX is an impressive value stock right now. Free: Top Stocks for the $30 Trillion Metaverse Boom The metaverse is a quantum leap for the internet as we currently know it - and it will make some investors rich. Just like the internet, the metaverse is expected to transform how we live, work and play. Zacks has put together a new special report to help readers like you target big profits. The Metaverse - What is it? And How to Profit with These 5 Pioneering Stocks reveals specific stocks set to skyrocket as this emerging technology develops and expands.Download Zacks’ Metaverse Report now >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report CI Financial Corp. (CIXX): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research.....»»

Category: topSource: zacksAug 18th, 2022Related News