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The CDC recommends a booster shot for 5-11s as new Omicron subvariants emerge

Most kids haven't even had their first COVID-19 shot yet. Public health experts are concerned they're most at risk as new variants emerge. Paul Hennessy/SOPA Images/LightRocket via Getty Images A group of expert advisors to the CDC voted "yes" to a third COVID shot for kids 5-11 Thursday. The CDC director quickly signed off on the boosts, making them available to the public. But most kids won't be eligible, because they haven't had 1 shot yet. "I'm very concerned about the BA.4 and BA.5 variants," one infectious disease expert said. "I would give my children this booster." Booster shots of COVID-19 vaccines are now recommended for everyone 5 and up.An influential group of independent advisors to the Centers for Disease Control and Prevention voted near-unanimously to recommend a booster dose of Pfizer's COVID-19 vaccine for kids ages 5 to 11 on Thursday afternoon.The CDC director quickly signed off on the move Thursday night, making boosts available to fully vaccinated schoolkids nationwide.Experts hotly debated the merits of even bothering to endorse a third COVID shot in the 5 to 11 age group, at a time when fewer than a third of school-age kids are fully vaccinated with two doses."Only 30% have received at least one" shot, committee member Dr. Helen Keipp Talbot, the lone 'no' vote said at the end of the CDC meeting, pointing out how few kids are fully vaccinated against COVID."Boosters are great, once we've got everyone their first round."Ultimately, though, doctors and nurses at the meeting by and large coalesced around the idea that three doses of this vaccine is better than two, especially now that new and highly-contagious Omicron sub-variants are circulating. 'I would give my children this booster'Paul Hennessy/SOPA Images/LightRocket via Getty Images"I'm very concerned about the BA.4 and BA.5 variants," committee member and infectious disease expert Dr. Camille Kotton said, referring to some of the newest Omicron sub-variants. "We really need optimal vaccine protection," she added, saying: "I would give my children this booster."COVID-19 was the 11th leading cause of death among children 5-11 years old in 2020, and hospitalizations and deaths in kids, while still rare, have only gone up since the Omicron variant emerged. More than 180 children between the ages of 5 and 11 have died from COVID in the US. Pfizer presented data during the CDC meeting showing that a third dose dramatically improves childrens' immune response, bolstering their defenses against the virus.Data the CDC released in April showed that vaccinated kids are better protected against severe illnesses: 87% of children aged 5 to 11 who were hospitalized with Omicron were unvaccinated, and the agency estimates that roughly 1,000 hospitalizations were prevented in the age group through vaccination.Children are also more likely than adults to develop MIS-C, a rare heart inflammation linked to COVID. The CDC says 93% of MIS-C cases in 5 to 11s have been among unvaccinated kids.Does my kid really need another shot now?Dr. Sarah Long, a committee member, pointed out that a lot of children recently had Omicron infections, and it may be worth waiting three months post-infection to boost them, as the CDC recommends for improved immune response."I would say that all children 5 to 11 should at some time have a third dose," she said. "The timing of that dose depends."Lynn Bahta, another committee member, and an infectious disease specialist with Minnesota's Department of Health, said parents should understand that third doses are probably on the horizon for all kids at some point — a regimen of at least three shots is already the gold standard for many other pediatric vaccinations.   "I keep struggling with the terminology of 'booster' dose," Bahta said. "I would hate to suggest that that third dose isn't necessary." Arm pain is the most common side effect9 year old Nyla Varner getting a COVID-19 shot.Francine Orr / Los Angeles Times via Getty ImagesPfizer's kid-sized booster shot is the exact same thing as the two primary doses that children 5 to 11 already get, and it is only 33% of the amount of vaccine that adults and teenagers receive.Pfizer presented data during the CDC meeting showing that the most common third dose side effect for kids 5 to 11 in trials was mild to moderate arm pain, reported in more than 70% of cases. Fatigue and headaches were the second and third most common side effects. 46% of kids who got a third shot reported fatigue, and 34% reported headaches, while fewer than 7% reported fevers, the company said."Children 5 through 11 should receive a booster dose at least 5 months after their primary series," CDC Director Rochelle Walensky said in a statement. "With over 18 million doses administered in this age group, we know that these vaccines are safe, and we must continue to increase the number of children who are protected."Read the original article on Business Insider.....»»

Category: topSource: businessinsider2 hr. 47 min. ago Related News

Japan Probably Needs To Move To The Pro-China Camp

Japan Probably Needs To Move To The Pro-China Camp By Russell Clark of the Capital Flows and Asset Markets Substack Japan has benefited massively from the free trade world that the US conjured into existence 40 years ago. Japanese industry and particularly its auto industry benefited hugely from access to the US auto market. For this reason, I expected US new car CPI moved higher (car prices rising after years of stagnation) that this would be Yen bullish. Instead the Yen has weakened considerably. From a macro and micro perspective, the idea of a stronger Yen with surging automobile prices makes sense. However, from a political point of view, I think this is probably wrong. Japan has for many years had a huge imbalance in auto markets with the US. Nissan, Toyota and Honda all have huge operations in the US, but you barely see a US auto brand in Japan. In a competitive democracy like the US, how could politicians possibly be elected pushing policies that expose domestic labour to foreign competition? I suspect after the inflationary 70s, politically there seems to me to be a coalition of consumers who wished to see inflation tamed, as well as business and capital owners that wanted to see union power crushed. Allowing first Japanese, and then other producers destroy the unionized US auto makers was a political win. That is the Japanese automakers were the spear tip of a policy to destroy US unions. However, the rise of “populism” everywhere in the West has shown is that the electorate has tired of “pro-capital” policies. For someone my age, pro-capital policies, or Washington Consensus policies were implemented by governments of all stripes, regardless of any political promises that were made. And I learned to ignore politics when investing, but 2016 I think has changed that calculation. Perhaps the best graph I can find to show the political change manifesting in real world change is US tax collections from Customs (ie tariffs). This is still a small number, but the political implications are huge. The US now cares when its imports come from, after decades of not caring, and will use tariffs to achieve political ends. Why is this a negative for Japan? Well of the three big economic blocs, Japan only runs a trade surplus with the US. At what point do political calculations, lets say for Candidate Trump, move to the idea of supporting US unionised workers in electorally competitive North East? As this map of unionisation in the US shows, unions members are more prevalent in the north east and California. Republicans candidates running on socially conservative issues, while protecting US businesses from foreign competition looks like an election winner to me, as it has been in the UK. On this analysis, Japan has real problem. The market it generates its trade surplus with looks to be changing politically. The current economic policy of weak yen and export lead growth looks to be an economic and politically dead end to me. The question is whether Japan will change policies? The biggest possible change they could embrace would be to come to a détente with China. The biggest sign that such a change was in the offing would be Japan beginning to build up gold reserves instead of treasuries, as this would allow them to facilitate trade with China, while avoiding any possible US sanctions. Maybe the small increase in gold holdings in Japan are a sign of this change? Japan is often considered Western, but culturally it is much closer to China than the US. The US/Japan military and economic alliance made Japan Western. If the US is unable to defend the Asia Pacific, which is increasingly likely, and US politics is turning against free trade, Japan is going to have to come to an “understanding” with China. If Japan builds gold reserves instead of treasuries, the financial effects will be profound. Tyler Durden Thu, 05/19/2022 - 20:00.....»»

Category: dealsSource: nyt3 hr. 0 min. ago Related News

CBRE announces $28.5 million sale of 5000 Corporate Court in Holtsville, New York

CBRE announced today the $28.5 million sale of 5000 Corporate Court—a two story, 264,482 sq. ft. office building in the hamlet of Holtsville and the town of Brookhaven. Jeffrey Dunne, Steven Bardsley, Jeremy Neuer, Stuart MacKenzie and Travis Langer of CBRE’s Institutional Properties Group, in collaboration with Philip Heilpern of... The post CBRE announces $28.5 million sale of 5000 Corporate Court in Holtsville, New York appeared first on Real Estate Weekly. CBRE announced today the $28.5 million sale of 5000 Corporate Court—a two story, 264,482 sq. ft. office building in the hamlet of Holtsville and the town of Brookhaven. Jeffrey Dunne, Steven Bardsley, Jeremy Neuer, Stuart MacKenzie and Travis Langer of CBRE’s Institutional Properties Group, in collaboration with Philip Heilpern of CBRE Advisory & Transaction Services, represented the seller, Office Properties Income Trust, an entity managed by The RMR Group. CBRE also procured the buyer, Northpath Investments. 5000 Corporate Court is located within minutes of Exit 62 off the Long Island Expressway (I-495). Theproperty is anchored by GSA tenants, including the Internal Revenue Service and U.S. Citizenship andImmigration Service. The property’s large floor plates, abundant parking (7 spaces/1,000 sq. ft.), andeconomical Central Suffolk office rental rates provide an ideal combination to accommodate tenantswith open space plans and high-density requirements. “5000 Corporate Court will complement Northpath’s other asset, Brookhaven Professional Center,” saidBardsley. “The property’s expansive floor plates can meet larger tenant requirements, while BrookhavenProfessional Center can cater to a smaller tenant profile.” “We are very pleased with this acquisition which will add to our growing office building portfolio,”added Gershon Alexander, Principal at Northpath Investments. CBRE Institutional Properties is marketing a number of attractive investment opportunities including:The Woodbury Portfolio, a six-building, 719,317 sq. ft. office portfolio, Woodbury, NY; One EastPutnam Avenue and One Lafayette Place, a two-building, 90,168 sq. ft. CBD portfolio, Greenwich, CT;33 Riverside Avenue, a 91% leased, 42,432 sq. ft. waterfront property, Westport, CT; and 1311 Mamaroneck Avenue, a 310,882 sq. ft. office building in White Plains, NY. The post CBRE announces $28.5 million sale of 5000 Corporate Court in Holtsville, New York appeared first on Real Estate Weekly......»»

Category: realestateSource: realestateweekly4 hr. 12 min. ago Related News

Massive Pandemic Unemployment Insurance Fraud Still Being Stonewalled By State Of Illinois

Massive Pandemic Unemployment Insurance Fraud Still Being Stonewalled By State Of Illinois Authored by Mark Glennon via Wirepoints.org, How unemployment claims were mismanaged during the COVID pandemic is shaping up as a historic fiasco. It’s therefore no surprise that the State of Illinois is stonewalling the facts about its share of the problem so aggressively. Nationwide, the scope of unemployment insurance fraud during the pandemic is stunning. Estimates of how much state governments wrongly paid out during the pandemic reach as high as $400 billion, which is fully half of the total $800 billion paid out, as reported by NBC. The latest official estimate is $163 billion lost to fraud, which is from the U.S. Department of Labor in March. Illinois’ share of that loss to fraud is unknown because the state won’t tell us, but it could easily be $6.5 billion, which would be its share of the Labor Department’s estimated loss. As far back as June 2021, the Chicago Tribune reported that “if the amount tracks with national estimates, it could involve billions of dollars.” For months, some Illinois reporters have hounded the responsible Illinois agency for answers. That’s the Illinois Department of Employment Security (IDES). But neither it nor the Pritzker Administration has provided any useful answers on how much was lost, why or how it can be stopped in the future. The most recent chapter came last week in a Freedom of Information Act response by IDES  reported by CBS Chicago. “The agency has historically refused to publicly disclose the scope of pandemic-related unemployment fraud,” CBS said, and it FOIAd for tracer reports on one particular slice of the fraud story, which is known payments to legitimate recipients that somehow got intercepted by fraudsters. CBS had to go to the Illinois Attorney General to force an answer out of IDES, and the response showed at least 1,000 records of intercepted payments. That’s as if IDES merely threw CBS a bone. It tells us little because we have no idea how many other instances of intercepted payments occurred or how much fraud in other forms occurred, such as by claimants who were fictitious to begin with. And the CBS Chicago FOIA request only covered the period from March 1, 2021 through Nov. 30, 2021 — a timeframe in which in which CBS says “IDES sources said they began to see fraud numbers spike.” Why CBS would trust IDES on that is a mystery since the entire point is that IDES either doesn’t know or is hiding fraud numbers. Some other states have been far more open about efforts together to get to the bottom of pandemic unemployment fraud. In Ohio, for example, the state’s top auditor estimates their fraud losses at about $5 billion and says openly, “The system failed at almost every conceivable level.” California publicly posts its data on estimated losses and other unemployment fraud data. But in Illinois, we get almost nothing. About the only number IDES and the Pritzker Administration have provided is their unverified claim that they stopped some one million fraudulent claims. That’s nice, but what matters is how many they didn’t stop, how it happened and how to fix it. The biggest reward that will come to states that have been open and honest about the fraud problem is that they likely will better control it the next time an emergency demands massive unemployment assistance. In Illinois, we can expect mistakes to be repeated. Tyler Durden Thu, 05/19/2022 - 17:20.....»»

Category: dealsSource: nyt6 hr. 31 min. ago Related News

Palo Alto Networks Reports Fiscal Third Quarter 2022 Financial Results

Fiscal third quarter revenue grew 29% year over year to $1.4 billion Fiscal third quarter billings grew 40% year over year to $1.8 billion Remaining performance obligation grew 40% year over year to $6.9 billion SANTA CLARA, Calif., May 19, 2022 /PRNewswire/ -- Palo Alto Networks (NASDAQ:PANW), the global cybersecurity leader, announced today financial results for its fiscal third quarter 2022, ended April 30, 2022. Total revenue for the fiscal third quarter 2022 grew 29% year over year to $1.4 billion, compared with total revenue of $1.1 billion for the fiscal third quarter 2021. GAAP net loss for the fiscal third quarter 2022 was $73.2 million, or $0.74 per diluted share, compared with GAAP net loss of $145.1 million, or $1.50 per diluted share, for the fiscal third quarter 2021. Non-GAAP net income for the fiscal third quarter 2022 was $193.1 million, or $1.79 per diluted share, compared with non-GAAP net income of $139.5 million, or $1.38 per diluted share, for the fiscal third quarter 2021. A reconciliation between GAAP and non-GAAP information is contained in the tables below. "We saw strong top-line growth in Q3, which is a testament to our teams' consistent execution in capitalizing on the strong cybersecurity demand trends," said Nikesh Arora, chairman and CEO of Palo Alto Networks. "On the back of this strength across our portfolio, we are again raising our guidance for the year across revenue, billings and earnings per share." "Our drive to deliver strong total shareholder return in Q3 was headlined by our revenue growth, while we also balanced operating margin expansion and free cash flow conversion," said Dipak Golechha, chief financial officer of Palo Alto Networks. "We look forward to continuing this balance as we close out the year and look to FY23." Financial Outlook Palo Alto Networks provides guidance based on current market conditions and expectations. For the fiscal fourth quarter 2022, we expect: Total billings in the range of $2.32 billion to $2.35 billion, representing year over year growth of between 24% and 26%. Total revenue in the range of $1.53 billion to $1.55 billion, representing year over year growth of between 25% and 27%. Diluted non-GAAP net income per share in the range of $2.26 to $2.29, using 106 million to 108 million shares outstanding. For the fiscal year 2022, we are broadly raising guidance and expect: Total billings in the range of $7.106 billion to $7.136 billion, representing year over year growth of between 30% and 31%. Total revenue in the range of $5.481 billion to $5.501 billion, representing year over year growth of approximately 29%. Diluted non-GAAP net income per share in the range of $7.43 to $7.46, using 106 million to 107 million shares. Adjusted free cash flow margin in the range of 32% to 33%. Guidance for non-GAAP financial measures excludes share-based compensation-related charges (including share-based payroll tax expense), acquisition-related costs, amortization expense of acquired intangible assets, litigation-related charges, including legal settlements,  non-cash charges related to convertible notes, and related foreign currency gains (losses) and income and other tax effects associated with these items, along with certain non-recurring expenses and certain non-recurring cash flows. We have not reconciled diluted non-GAAP net income per share guidance to GAAP net income (loss) per diluted share or adjusted free cash flow margin guidance to GAAP net cash from operating activities because we do not provide guidance on GAAP net income (loss) or net cash from operating activities and would not be able to present the various reconciling cash and non-cash items between GAAP and non-GAAP financial measures because certain items that impact these measures are uncertain or out of our control, or cannot be reasonably predicted, including share-based compensation expense, without unreasonable effort. The actual amounts of such reconciling items will have a significant impact on the company's GAAP net income (loss) per diluted share and GAAP net cash from operating activities. Earnings Call Information Palo Alto Networks will host a video webcast for analysts and investors to discuss the company's fiscal third quarter 2022 results as well as the outlook for its fiscal fourth quarter 2022 today at 4:30 p.m. Eastern time/1:30 p.m. Pacific time. Open to the public, investors may access the webcast, supplemental financial information and earnings slides from the "Investors" section of the company's website at investors.paloaltonetworks.com. A replay will be available three hours after the conclusion of the webcast and archived for one year. Forward-Looking Statements This press release contains forward-looking statements that involve risks, uncertainties, and assumptions including statements regarding our ability to balance future revenue growth with operating margin expansion and free cash flow, and our financial outlook for the fiscal fourth quarter 2022 and fiscal year 2022. There are a significant number of factors that could cause actual results to differ materially from statements made in this press release, including: developments and changes in general market, political, economic, and business conditions; the duration and global impact of COVID-19; risks associated with managing our growth; risks associated with new products and subscription and support offerings, including the discovery of software bugs; shifts in priorities or delays in the development or release of new subscription offerings, or the failure to timely develop and achieve market acceptance of new products and subscriptions as well as existing products and subscription and support offerings; rapidly evolving technological developments in the market for security products and subscription and support offerings; our customers' purchasing decisions and the length of sales cycles; our competition; our ability to attract and retain new customers; our ability as an organization to acquire and integrate other companies, products, or technologies in a successful manner; the effects of supply chain constraints and the global chip and component shortages and other factors affecting the manufacture, delivery, and cost of certain of our products; our ability to obtain adequate supply of our products from our third-party manufacturing partners; our debt repayment obligations; and our share repurchase program, which may not be fully consummated or enhance shareholder value, and any share repurchases which could affect the price of our common stock. Additional risks and uncertainties that could affect our financial results are included under the captions "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" in our Quarterly Report on Form 10-Q filed with the SEC on February 22, 2022, which is available on our website at investors.paloaltonetworks.com and on the SEC's website at www.sec.gov. Additional information will also be set forth in other filings that we make with the SEC from time to time. All forward-looking statements in this press release are based on information available to us as of the date hereof, and we do not assume any obligation to update the forward-looking statements provided to reflect events that occur or circumstances that exist after the date on which they were made. Non-GAAP Financial Measures and Other Key Metrics Palo Alto Networks has provided in this press release financial information that has not been prepared in accordance with generally accepted accounting principles in the United States (GAAP). The company uses these non-GAAP financial measures and other key metrics internally in analyzing its financial results and believes that the use of these non-GAAP financial measures and key metrics are useful to investors as an additional tool to evaluate ongoing operating results and trends, and in comparing the company's financial results with other companies in its industry, many of which present similar non-GAAP financial measures or key metrics. The presentation of these non-GAAP financial measures and key metrics are not meant to be considered in isolation or as a substitute for comparable GAAP financial measures and should be read only in conjunction with the company's consolidated financial statements prepared in accordance with GAAP. A reconciliation of the company's historical non-GAAP financial measures to their most directly comparable GAAP measures has been provided in the financial statement tables included in this press release, and investors are encouraged to review these reconciliations. Non-GAAP net income and net income per share, diluted. Palo Alto Networks defines non-GAAP net income as net income (loss) plus share-based compensation-related charges, including share-based payroll tax expense, acquisition-related costs, amortization expense of acquired intangible assets, litigation-related charges, including legal settlements, gains (losses) related to facility exit, and non-cash charges related to convertible notes. The company also excludes from non-GAAP net income the foreign currency gains (losses) and tax effects associated with these items in order to provide a complete picture of the company's recurring core business operating results. The company defines non-GAAP net income per share, diluted, as non-GAAP net income divided by the weighted-average diluted shares outstanding, which includes the potentially dilutive effect of the company's employee equity incentive plan awards and the company's convertible senior notes outstanding and related warrants, after giving effect to the anti-dilutive impact of the company's note hedge agreements, which reduces the potential economic dilution that otherwise would occur upon conversion of the company's convertible senior notes. Under GAAP, the anti-dilutive impact of the note hedge is not reflected in diluted shares outstanding. The company believes that excluding these items from non-GAAP net income and net income per share, diluted, provides management and investors with greater visibility into the underlying performance of the company's core business operating results, meaning its operating performance excluding these items and, from time to time, other discrete charges that are infrequent in nature, over multiple periods. Billings. Palo Alto Networks defines billings as total revenue plus the change in total deferred revenue, net of acquired deferred revenue, during the period. The company considers billings to be a key metric used by management to manage the company's business and believes billings provides investors with an important indicator of the health and visibility of the company's business because it includes subscription and support revenue, which is recognized ratably over the contractual service period, and product revenue, which is recognized at the time of shipment, provided that all other conditions for revenue recognition have been met. The company considers billings to be a useful metric for management and investors, particularly if sales of subscriptions continue to increase and the company experiences strong renewal rates for subscriptions and support. Investors are cautioned that there are a number of limitations associated with the use of non-GAAP financial measures and key metrics as analytical tools. In particular, the billings metric reported by the company includes amounts that have not yet been recognized as revenue. Additionally, many of the adjustments to the company's GAAP financial measures reflect the exclusion of items that are recurring and will be reflected in the company's financial results for the foreseeable future, such as share-based compensation, which is an important part of Palo Alto Networks employees' compensation and impacts their performance. Furthermore, these non-GAAP financial measures are not based on any standardized methodology prescribed by GAAP, and the components that Palo Alto Networks excludes in its calculation of non-GAAP financial measures may differ from the components that its peer companies exclude when they report their non-GAAP results of operations. Palo Alto Networks compensates for these limitations by providing specific information regarding the GAAP amounts excluded from these non-GAAP financial measures. In the future, the company may also exclude non-recurring expenses and other expenses that do not reflect the company's core business operating results. About Palo Alto Networks Palo Alto Networks, the global cybersecurity leader, is shaping the cloud-centric future with technology that is transforming the way people and organizations operate. Our mission is to be the cybersecurity partner of choice, protecting our digital way of life. We help address the world's greatest security challenges with continuous innovation that seizes the latest breakthroughs in artificial intelligence, analytics, automation, and orchestration. By delivering an integrated platform and empowering a growing ecosystem of partners, we are at the forefront of protecting tens of thousands of organizations across clouds, networks, and mobile devices. Our vision is a world where each day is safer and more secure than the one before. For more information, visit www.paloaltonetworks.com. Palo Alto Networks and the Palo Alto Networks logo are trademarks of Palo Alto Networks, Inc. in the United States and in jurisdictions throughout the world. All other trademarks, trade names, or service marks used or mentioned herein belong to their respective owners.   Palo Alto Networks, Inc. Preliminary Condensed Consolidated Statements of Operations (In millions, except per share data) (Unaudited) Three Months Ended Nine Months Ended April 30, April 30, 2022 2021 2022 2021.....»»

Category: earningsSource: benzinga6 hr. 47 min. ago Related News

Adagio Therapeutics Jumps 629 Ranks To 119th Most Owned Stock On The Platform

Adagio Therapeutics Inc (NASDAQ:ADGI) said it secured manufacturing capacity with third parties to produce its SARS CoV-2 antibody treatment for clinical trials in anticipation of US Food and Drug Administration and other regulations. The Waltham, MA-based clinical-stage biopharmaceutical company focuses on discovering, developing and commercializing antibody-based solutions for infectious diseases with pandemic potential. Adagio has […] Adagio Therapeutics Inc (NASDAQ:ADGI) said it secured manufacturing capacity with third parties to produce its SARS CoV-2 antibody treatment for clinical trials in anticipation of US Food and Drug Administration and other regulations. The Waltham, MA-based clinical-stage biopharmaceutical company focuses on discovering, developing and commercializing antibody-based solutions for infectious diseases with pandemic potential. Adagio has a portfolio of SARS-CoV-2 antibodies, including multiple, non-competing, broadly neutralizing antibodies with distinct binding epitopes, led by ADG20. .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 Ray Dalio Series in PDF Get the entire 10-part series on Ray Dalio 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); Q1 2022 hedge fund letters, conferences and more Adagio Therapeutics' IPO Adagio has traveled a rough road since its August 2021 $17 initial public offering. The shares debuted with a roughly 25% gain, climbing to $78.82 amid analyst optimism which drove demand. The bubble burst, though, and the shares began a long decline to their current roughly $3 a share. That's an 86% decline from the shares' high. The shares spiked briefly in November when Adagio said ADG20 showed effectiveness against Omicron. Retail investors greeted the news by opening their wallets to buy. Adagio shares climbed 629 positions on the Fintel Retail Ownership leaderboard and currently sit at the 119th spot. We included a chart from ADGI's Retail Ownership page below: Buyers also digested the company's earnings from Friday when the company reported a 93 cents a share loss first quarter loss, a blistering 30 cents below Wall Street analysts' average estimate. Research and Development expenses rose to $92 million, compared to $34 million for the prior year. The firm reported cash and cash equivalents of $532 million on the 31st of March and management expects total cash and equivalents will continue to fund the company into the 2024's second half. The company paused its clinical trials earlier after early results against the Covid 19 omicron variant. Adagio shares carry the risk of many early-stage biotech firms; running out of money. Investors often balk at funding untested product development. However, its current cash balance exceeds its market capitalization and provides an operating cushion and share price support. According to Fintel's Put/Call Ratio for ADGI, which indicates market sentiment for the underlying shares, the stock has a score of 0.42 The Put/Call Ratio shows the total number of disclosed open put option positions divided by the number of open call options. Since puts are generally a bearish bet and calls are a bullish bet, put/call ratios greater than 1 indicate a bearish sentiment, and ratios less than one indicate a bullish sentiment. We a chart of this ratio and how it has behaved over the last three months: Interestingly, the stock also sports a Fintel Short Squeeze Score of 86.61, which places it in the top 5% of our 5,500 screened companies. The Short Squeeze Score uses a sophisticated, multifactor quantitative model that identifies companies with the highest risk of experiencing a short squeeze. The scoring model uses a combination of short interest, float, short borrow fee rates, and other metrics. The number ranges from 0 to 100, with higher numbers indicating a higher risk of a short squeeze relative to its peers and 50 being the average. The consensus analyst rating for the shares is "underweight." Article by Ben Ward, Fintel Updated on May 19, 2022, 4:31 pm (function() { var sc = document.createElement("script"); sc.type = "text/javascript"; sc.async = true;sc.src = "//mixi.media/data/js/95481.js"; sc.charset = "utf-8";var s = document.getElementsByTagName("script")[0]; s.parentNode.insertBefore(sc, s); }()); window._F20 = window._F20 || []; _F20.push({container: 'F20WidgetContainer', placement: '', count: 3}); _F20.push({finish: true});.....»»

Category: blogSource: valuewalk6 hr. 47 min. ago Related News

Dividend Passive Income: How To Make $1,000 Per Month

Would you like to have an extra $1,000 per month? Even if you’re a minimalist, I think most of us would jump at this opportunity. And, for good reason. An extra grand a month could totally transform your life. In addition to paying off financial debt, you could also invest in your retirement or buy […] Would you like to have an extra $1,000 per month? Even if you’re a minimalist, I think most of us would jump at this opportunity. And, for good reason. An extra grand a month could totally transform your life. In addition to paying off financial debt, you could also invest in your retirement or buy life insurance with this extra cash. Or, with your newfound financial freedom, you could finally make much-needed home repairs, take a class to enhance your skills, or take that vacation you’ve been talking about for years. if (typeof jQuery == 'undefined') { document.write(''); } .first{clear:both;margin-left:0}.one-third{width:31.034482758621%;float:left;margin-left:3.448275862069%}.two-thirds{width:65.51724137931%;float:left}form.ebook-styles .af-element input{border:0;border-radius:0;padding:8px}form.ebook-styles .af-element{width:220px;float:left}form.ebook-styles .af-element.buttonContainer{width:115px;float:left;margin-left: 6px;}form.ebook-styles .af-element.buttonContainer input.submit{width:115px;padding:10px 6px 8px;text-transform:uppercase;border-radius:0;border:0;font-size:15px}form.ebook-styles .af-body.af-standards input.submit{width:115px}form.ebook-styles .af-element.privacyPolicy{width:100%;font-size:12px;margin:10px auto 0}form.ebook-styles .af-element.privacyPolicy p{font-size:11px;margin-bottom:0}form.ebook-styles .af-body input.text{height:40px;padding:2px 10px !important} form.ebook-styles .error, form.ebook-styles #error { color:#d00; } form.ebook-styles .formfields h1, form.ebook-styles .formfields #mg-logo, form.ebook-styles .formfields #mg-footer { display: none; } form.ebook-styles .formfields { font-size: 12px; } form.ebook-styles .formfields p { margin: 4px 0; } Get The Full Walter Schloss Series in PDF Get the entire 10-part series on Walter Schloss in PDF. Save it to your desktop, read it on your tablet, or email to your colleagues. (function($) {window.fnames = new Array(); window.ftypes = new Array();fnames[0]='EMAIL';ftypes[0]='email';}(jQuery));var $mcj = jQuery.noConflict(true); Q1 2022 hedge fund letters, conferences and more And, considering that 56% of Americans can’t pay for a $1,000 emergency expense, this money could be used to build a considerable emergency fund. However, you’re not going to suddenly end up with $1,000 per month — unless you inherit money or win the lottery. It has to be earned. Now, your first thought could be that you should find a second job. If you’re facing a financial crisis or are working toward a short-term financial goal, this is the right move. On the other hand, you may find this takes you away from your family, friends, or hobbies. Plus, juggling both a full-time job and an internship can be exhausting. Consequently, if your performance or productivity plummets, you could in essence risk your primary source of income. With that said, what are your realistic options for earning an extra grand each month? One of my favorites is through a passive income. What is a Passive Income? Making passive income requires little effort on your part. Often, passive income is referred to as ‘earning money while you sleep’ because it requires almost no involvement. This isn’t the case in every situation, however. However, hopefully, you’ve got the jest on what a passive income is. However, there is a myth about passive income that needs to be busted. Passive income is assumed to be so easy that anyone can earn it within the weekend. Once that’s done, you just sit back and wait for the money to come following in. Truth be told, a lot of work needs to be done upfront. Your passive income sources still need to be updated and maintained even after the initial legwork is completed. One example is blogging. Once it’s up and running and producing a steady revenue stream, it can make a lot of money. But, building a blog to that level takes a lot of effort. And, even if you reach that level, it still needs to be managed. If anything, it’s semi-passive. Although this is an excellent income source, it is not really passive. But, that’s not true with dividends. What is a Dividend (And Why They Rock)? If you want a truly passive income, then let me introduce you to my good friend dividends. For those who aren’t acquainted with my friend here, dividends are payments companies make to shareholders as a way of sharing profits. Investors earn a return on stock investments through dividends, which are paid on a regular basis. Let me also add that not all stocks pay dividends. You should choose dividend stocks if you want to invest for dividends, however. All right, that’s great. What makes dividends a passive income though? Again, most passive income sources will still need a little TLC every now and then. I already talked about blogging. But, property rentals are another example of a semi-passive income. If you don’t maintain your rental, it’s going to depreciate and become loss appealing to renters. In the current era of exceptionally low interest rates, dividend income is in a league of its own. It is possible without any effort to create a portfolio of stocks that generates a steady return of 3%-4% per year. There is no better example of a truly passive investment today than that. Now, let me be real. To reach the desired level of income takes a lot of capital. If you invest wisely, however, you can earn a generous income — even $1000 per month in dividends. And, as soon as it’s up and running, you won’t have to lift a finger to get it going. Besides being a legitimate passive income, I’m a big fan of dividends for the following reasons. Capital appreciation. Even though I’m talking about dividends, dividend stocks can also generate capital appreciation. After all, they’re stocks, and the value of stocks tends to go up over time. If you’re lost, let’s take Pepsi as an example. Right now, the stock pays a dividend of almost 3% per year. The current share price is about $172. But if you purchased the stock 10 years ago? You could have done so at less than $65 per share. The stock value has more than doubled in 10 years, and you have earned 3% in passive income over that time. In other words, dividend stocks have the advantage of not only providing a steady income. But also the benefit of capital appreciation. By doing so, you can protect your investment from inflation and also make sure it grows over the long run. As such, dividend stocks are among one of the very best investments you can make, and are one of the strongest recommendations for the foundation of your portfolio. Dividend stocks should be a core investment, even if you own other investments. Dividend stocks vs. growth stocks. Now, I gotta quickly fill you in on dividend stocks. Unlike growth stocks, dividend stocks tend to rise less in price than growth stocks. Why? As their name implies, growth stocks are all about growth. Most pay little dividends if any at all. All profits are instead reinvested into the business to expand revenue and profit. In fact, over the past decade, growth stocks that don’t pay dividends have produced some of the best results. The most notable example is Amazon (AMZN). In the past 10 years, its stock price increased from $170 per share to more than $3,000 now, but it doesn’t pay a dividend. You won’t get income from these stocks until the day you sell them, so you may want to hold a number of them in your portfolio. The appreciated value will come at that point. But, for now, it’s just paper gain. In short, investing in dividend stocks is a better choice if you’re looking for passive income. Favorable tax treatment. Dividend-paying stocks offer tax benefits in addition to yields above those of interest-bearing securities. Dividends are treated as ordinary income by the Internal Revenue Service. If qualified for the long-term capital gains tax rate, however, they aren’t taxed. Dividends on the stock must be issued by a US corporation or by a foreign corporation with stock trading on a US exchange in order to qualify as a qualified dividend. To qualify for dividends on a stock, you must also own it for at least 60 days. For qualified dividends the tax rates are as follows: If you have a taxable income of less than $78,750, you pay 0%. If you’re single and earn more than $78,750, but less than $434,550, or if you’re married filing jointly, or if you’re a qualified widow, you’re eligible for a 15% tax exemption. Taxes are charged at a rate of 20% of your taxable income that exceeds these thresholds. In any case, if you hold dividend stocks in qualified tax-deferred retirement plans, the lowered (or nonexistent) taxes won’t matter. Holding them in a taxable investment account will give you a big tax advantage though. Where to Find Dividend Stocks Dividend-paying stocks tend to be issued by large corporations with established financial records. Or at least those that pay higher yields consistently over time. They are also commonly known in most cases. Either they have popular products or services, or they’ve been around for a long time and have built a strong reputation. They tend to be popular with investors, too, due to all those qualities and their dividends. Now, when it comes to dividend stocks, companies can choose between different dividend types. The most common types include: Cash dividends. These are the most common dividends. Companies typically deposit cash dividends directly into shareholders’ brokerage accounts. Stock dividends. In addition to paying cash, companies can also share additional stock with investors. Dividend reinvestment programs (DRIPs). With DRIPs, dividends are reinvested into the company’s stock, often at a discount, so investors receive their dividends back sooner. Special dividends. Shareholders receive these dividends when their common stock goes up in value, but they do not recur. When a company has accumulated profits over years but does not need them at the moment, it will issue a special dividend. Preferred dividends. The dividends paid to the owners of preferred stock. Stocks that are preferred function less like stocks and more like bonds. Most preferred stock dividends are paid quarterly, but unlike dividends on common stock, they are typically fixed. With that out of the way, let me go over the three basic ways to invest in dividend stocks. Start with dividend aristocrats. At present, all stocks in the S&P 500 index offer a yield of 1.37%. To begin, you might want to focus on stocks that are paying even higher dividends. Stock screener software can certainly assist with finding those companies. But, there’s a much easier method. You can find many of the best and most stable dividend stocks on a list called Dividend Aristocrats, which includes some of the highest-dividend paying stocks. At the moment, the list includes 65 companies. In order to be considered a Dividend Aristocrat, a company must meet specific criteria. Among these criteria are: At least 25 straight years of increasing dividends to shareholders. An established, large company is generally listed on the S&P 500, rather than one that is fast-growing. The company must have a market capitalization of at least $3 billion. The value of daily share trades for the three months prior to the rebalancing date must have averaged $5 million. However, just because a stock is a Dividend Aristocrat doesn’t automatically make it a good investment. There is no guarantee that a company is permanently on the list just because it is on the list. The list is usually altered every year, as some companies are added and others drop. Dividend aristocrats: What to watch out for. In the case of Dividend Aristocrats, two factors need to be considered: The ratio of dividends paid out. This is the percentage of net profits a company pays out to shareholders in dividends. It is unlikely that the current dividend is sustainable if this number approaches or exceeds 100%. The optimal dividend payout ratio is between 50% and 60%. A dividend yield that is excessive. A dividend yield of 3% to 4% is the average for Dividend Aristocrats. In some cases, higher pay may be due to a company’s share price falling, such as 6%, 8%, or more. This could indicate a company is in distress. Either situation can indicate a dividend reduction is a real possibility. If that happens, not only will your dividend yield be reduced, but the price of the stock will almost certainly fall. High dividend exchange-traded funds (ETFs). Investing in ETFs can be a good alternative to holding individual stocks. For example, you can invest in dividend-paying ETFs. Examples include: Vanguard High-Dividend Yield ETF (VYM) – currently yields 2.99%, with an average return of 10.45% over the past decade. SPDR S&P Dividend ETF (SDY) – has an overall return of 10.23% over the past ten years and a dividend yield of 2.91%. Schwab US Dividend Equity ETF (SCHD) – pays dividends of 3.69%, and has returned 14.61 percent over the past 9 years (founded in October 2011). These three funds not only show double-digit returns for the past decade but also have current yields much higher than interest-bearing investments. Although you might not become wealthy in the way that high-flying growth stocks do, these funds provide steady, reliable returns. Long-term investors should consider this kind of investment as the centerpiece of their portfolios. Real Estate Investment Trusts (REITs) Essentially, REITs are mutual funds that invest in real estate instead of stocks. However, not any kind of real estate will do. Real estate investment trusts invest mostly in commercial properties, including office buildings, retail space, warehouses, and big apartment buildings. A minimum of 90% of their income must be distributed to shareholders as dividends as well. The net rental income and the capital appreciation distributions of sold properties make up this portion. For simplicity, dividends are usually paid on a monthly basis by REITs. Here are some dividend-paying REITs to consider: Brookfield Property REIT (BPY) – current dividend yield of 7.54%. Kimco Realty Corp (KIM) – current dividend yield of 3.26%. Brandywine Realty Trust (BDN) – current dividend yield of 6.59%. Bear in mind, however, that REITs have not had good long-term performance in the past few years. In spite of paying consistently high dividends, both Brookfield Property REIT and Kimco Realty Corp have experienced major share price declines over the past decade. On the flip side, Brandywine Realty Trust showed the best capital appreciation, holding constant over the past decade. Where to Invest in Dividend Stocks Want to earn a passive income with dividends? The following investment platforms allow you to invest in dividend stocks or high dividend ETFs. As an added perk, each gives you the option of commission-free investment in stocks or ETFs. Robinhood On either your computer or your mobile device, you can trade stocks and ETFs using the Robinhood app. This is also one of the only investment apps that offer trading options as well as cryptocurrency. In spite of the fact that Robinhood is primarily designed for self-directed investors, it provides sufficient company information to identify dividend stocks and track them. Dividend yield, price-earnings ratio, and 52-week high and low prices all fall into this category. The company is currently giving you the chance to earn up to $500 in free stocks by referring friends who open accounts on the app. A stock can be worth anywhere from $2.50 to $200. But, come on. That’s free money just for signing up. Webull Webull works a lot like Robinhood. This company offers commission-free trading of stocks, ETFs, and options, and it has mobile trading capabilities. If you’re on the move constantly, then this is the platform for you. Webull does not require a minimum initial investment. But funds are required for investing. Moreover, it does offer both traditional and Roth IRA accounts, which makes it a better alternative to Robinhood. The reason dividend stocks are ideal for retirement accounts is that they provide long-term growth in addition to income. You will also receive interest on any invested cash held in your account at Webull. M1 Finance Unlike Robinhood and WeBull, M1 Finance allows you to purchase stocks through portfolios called “pies,” which are comprised of many stocks and/or ETFs. There are pre-built pies available, but you can customize your own with the stocks and ETFs you want. If you prefer, you can make a pie out of each of your favorite Dividend Aristocrats, or even pick all 65 stocks. It’s entirely up to you how many pies you want. Dividend Aristocrats can be held in one account, growth stocks in another, or sector ETFs in another. When you have created one or more pies, M1 Finance provides you with another advantage. Your pie will be managed robo-advisor-style, with periodic rebalancing to make sure your allocations remain on target, and even dividends reinvested. You can then sit back and watch your investment grow once you’ve selected your stocks or funds. Ah. The best kind of passive income you could ever ask for. How to Build a Portfolio That Will Make $1,000 Per Month in Dividends Sample Dividend Portfolio For new and small investors, this is a significant barrier. I mean you’d need about $400,000 with a yield of 3% to make $1,000 per month in dividends. But how do you get to $400,000? To begin, let’s take a look at things from a different perspective. Investing in dividends is, by definition, a long-term endeavor. The goal isn’t growth, and most certainly not explosive growth. Rather it’s all about a steady income that hopefully will appreciate over time. So, you’ll need patience and constant investing if you want to make it a long-term investment. The first step, then, is to consider the amount you plan to invest and set up a regular schedule. Suppose, for example, you buy 10 shares of a particular stock each month, or invest $500 per month. Over time, you can gradually add many thousands of dollars to your investments every year. This results in a positive outcome. With your monthly purchases, you will be able to utilize dollar-cost averaging. A method like that greatly eliminates the impact of stock price fluctuations or the timing of the end of the market. Every month, you will just invest the same amount. And, best of you all, you just let compound interest work its magic. If you are investing $500 per month in a growing portfolio of dividend stocks with a 10% return, including dividends and capital appreciation, you would be investing $6,000 per year. Investing at the same level for 21 years will mean you’ll have over $400,000 — even if you never increase it. Dividend Reinvestment Plans commonly called DRIPs, make this possible. These are often offered by the brokerage firm where you hold the stocks. With DRIPs, dividends are used to buy more shares of the same company automatically. The Bottom Line Dividend stocks don’t get the same buzz as growth stocks do. The thing is, they’re the kind of investments that build both permanent wealth and passive income. What’s not to like about that? For retirement portfolios, dividend stocks are especially enticing. Investing in these funds will not only allow you to build wealth over decades but will also provide a steady flow of income when you retire. As the stock prices rise in value over time, you can use the dividend income to cover living expenses. You can choose to receive $2,000, $3,000, or even $5,000 in dividends per month, even though I have been talking about $1,000. You’ll need a much broader portfolio for that. However, if you are planning to become wealthy or retire with a seven-figure account, you might as well earn a decent income while you’re at it. To build a portfolio large enough to generate $1,000, or more, per month in dividends, you must combine regular contributions, dividend reinvestment, and capital appreciation. Article by Jeff Rose, Due About the Author Jeff Rose is an Iraqi Combat Veteran and founder of Good Financial Cents. He teaches people wealth hacking. He is a frequent on CNBC, Forbes, Nasdaq and many other publications. He is author of the book "Soldier of Finance: Take Charge of Your Money and Invest in your Future" where he teaches how he escaped from $20,000 in credit card debt to a life of wealth. Updated on May 19, 2022, 3:58 pm (function() { var sc = document.createElement("script"); sc.type = "text/javascript"; sc.async = true;sc.src = "//mixi.media/data/js/95481.js"; sc.charset = "utf-8";var s = document.getElementsByTagName("script")[0]; s.parentNode.insertBefore(sc, s); }()); window._F20 = window._F20 || []; _F20.push({container: 'F20WidgetContainer', placement: '', count: 3}); _F20.push({finish: true});.....»»

Category: blogSource: valuewalk8 hr. 2 min. ago Related News

The Ratings Game: Target stock downgraded as multiple analyst groups blame execution for profit hit

Target was downgraded by a number of analyst groups after the retailer reported a wide first-quarter profit miss.....»»

Category: topSource: marketwatch9 hr. 2 min. ago Related News

Existing-Home Sales Maintain Decline in April

The downward trend in existing home sales held firm in April as rising price tags and mortgage rates continued to strain buyer activity, according to a new report from the National Association of REALTORS® (NAR). Sales of previously owned homes dipped for the third consecutive month in April, sliding by 2.4% to a seasonally adjusted… The post Existing-Home Sales Maintain Decline in April appeared first on RISMedia. The downward trend in existing home sales held firm in April as rising price tags and mortgage rates continued to strain buyer activity, according to a new report from the National Association of REALTORS® (NAR). Sales of previously owned homes dipped for the third consecutive month in April, sliding by 2.4% to a seasonally adjusted annual rate of 5.61 million. Year-over-year, sales dropped 5.9%. Month-over-month sales activity across all four major U.S. regions was a mixed bag as two areas posted gains while the other two experienced waning last month. However, all four regions saw a dip in sales annually. Single-family home sales were down 2.5% from March to a seasonally adjusted annual rate of 4.99 million. Condos and co-op sales also declined by 1.6% in March to a seasonally adjusted annual rate of 740,000 units in April. According to NAR experts, the combination of higher home prices and mortgage rates has continued to weigh down on buyer activity, who indicated that the decline in sales activity would likely persist in the coming month and return to pre-pandemic levels. At the end of April, housing stock hit 1,030,000 units, marking 10.8% from March but a 10.4% decline YoY. Regional Breakdown: Northeast Existing-Home Sales: 670,000 (+1.5% MoM; -10.7% YoY) Median Price: $412,000 (+8.1% YoY) Midwest Existing-Home Sales: 1.31 million (+4.1% MoM; -2.6% YoY) Median Price: $282,000 (+8.7% YoY) South Existing-Home Sales: 2.49 million (-4.6% MoM; -5.7% YoY) Median Price: $352,100 (+22.2% YoY) West Existing-Home Sales: 1.14 million (-5.8% MoM; -8.1% YoY) Median Price: $523,000 (+4.3% YoY) The takeaway: “As we find ourselves in the midst of a massive housing shortage, NAR continues to work with leaders across the private and public sectors to help close this deficit,” said NAR President Leslie Rouda Smith. “As the nation’s largest real estate association, we are urging policymakers to enact zoning reforms, homebuilder incentives, and other necessary regulations to help correct this situation.” “Higher home prices and sharply higher mortgage rates have reduced buyer activity,” said Lawrence Yun, NAR’s chief economist. “It looks like more declines are imminent in the upcoming months, and we’ll likely return to the pre-pandemic home sales activity after the remarkable surge over the past two years. “The market is quite unusual as sales are coming down, but listed homes are still selling swiftly, and home prices are much higher than a year ago. Moreover, an increasing number of buyers with short tenure expectations could opt for 5-year adjustable-rate mortgages, thereby ensuring fixed payments over five years because of the rate reset. The cash buyers, not impacted by mortgage rate changes, remain elevated.” “Rising mortgage rates, which first crossed the 5% threshold in April, have kept climbing as the Fed adjusts monetary policy to a less accommodative posture,” said Danielle Hale, chief economist at realtor.com®. “While higher rates are expected to eventually reign in price increases, typical home sale prices grew 14.8% in April as buyers felt pressure on their budgets and urgency to move quickly. “The number of households interested in becoming homeowners remains high, despite waning confidence that now is a good time to buy. This is especially true among younger home shoppers, who are likely to be first-time buyers and are struggling to save for a down payment as rents continue to hit records, as seen in the dip in first-time buyers to 28% in April. At the same time, seller expectations for higher down payments seem to be rising, fueled by a still-competitive housing market and repeat buyers with relatively more equity at their disposal. “Homeowners considering a sale this year still hold most of the cards, but will want to keep on top of a rapidly-adjusting market poised for a reset—a real estate refresh. Realtor.com housing data shows that there were fewer homes actively for sale in April than in the year prior, but by the first week of May, the trend flattened. In the most recent weekly data, we saw the biggest yearly jump in active listings since March 2019, as more homeowners decided to sell and more searchers decided to hit pause. The combination of these trends means home shoppers—at least those who can navigate higher mortgage rates and monthly payments – will have more homes to choose from relative to last year, even as options are fewer than before the pandemic.” “The combination of higher prices and higher mortgage rates continue to negatively impact home sales,” said Joel Kan, AVP of Economic and Industry Forecasting for the Mortgage Bankers Association. “Although the job market is still extremely strong, emerging signs of economic weakness have also added to the overall uncertainty for potential homebuyers. Steep home-price appreciation was particularly impactful on first-time home buyers, who have seen their share of home sales decrease to 28% compared to 31% a year ago.” “Inventory is a key component of housing market conditions, and the limited availability of homes for sale has been adding to upward pressure on prices, delaying some purchase activity. While there was a slight increase in the number of homes for sale to just over 1 million units, this was likely due to the declining sales pace as demand slows. At just over a two-month supply, inventory is still extremely low by historical standards, and the recent slowdown in residential construction activity may prolong this shortage.” The post Existing-Home Sales Maintain Decline in April appeared first on RISMedia......»»

Category: realestateSource: rismedia9 hr. 26 min. ago Related News

EasyJet – Losses Narrow As Capacity Ascends

EasyJet plc (LON:EZJ)’s half year pre-tax losses were £545m, compared to £701m last year. That was at the better end of expectations, and reflects an increase in revenue from £240m to £1.5bn. Capacity was 30.3m seats, up significantly on 6.4m last year. easyJet expects to operate 90% of pre-pandemic capacity in the current quarter. In […] EasyJet plc (LON:EZJ)’s half year pre-tax losses were £545m, compared to £701m last year. That was at the better end of expectations, and reflects an increase in revenue from £240m to £1.5bn. Capacity was 30.3m seats, up significantly on 6.4m last year. easyJet expects to operate 90% of pre-pandemic capacity in the current quarter. In the last 10 weeks, bookings have been 6% above the same period in 2019. .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 Ray Dalio Series in PDF Get the entire 10-part series on Ray Dalio 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); Q1 2022 hedge fund letters, conferences and more The group said: “Despite the rise in living costs, consumer research suggests there is still strong appetite to travel due to pent up demand and people topping up savings during the pandemic. 1 in 2 respondents in the UK say limited opportunities to travel during the pandemic has made their holidays more important to them than before”. The shares rose 2.1% following the announcement. EasyJet's Earnings Sophie Lund-Yates, equity analyst at Hargreaves Lansdown: “easyJet’s about-turn is almost complete, with plans to operate within a whisker of pre-pandemic levels by the end of the year. Revenue has increased dramatically as the short-haul specialist has ramped up capacity, and crucially – passengers have come to fill it. That means losses have been narrowing despite the enormous cost that comes with switching an entire airline back into the “on” position. The group’s also confident that the cost-of-living crisis isn’t touching performance. It was quick to point out that holidays are more important to people these days, after two years without travel abroad. This idea does ring true to some extent, but there’s no getting away from the fact that if faced with a recession, a holiday – whether a hop down the road or a city break to Prague, simply isn’t going to happen for millions of people. This isn’t a flashing red indicator at this juncture, but it’s something to keep one eye on.” About Hargreaves Lansdown Over 1.7 million clients trust us with £132.3 billion (as at 30 April 2022), making us the UK’s number one platform for private investors. More than 98% of client activity is done through our digital channels and over 600,000 access our mobile app each month. Updated on May 19, 2022, 1:47 pm (function() { var sc = document.createElement("script"); sc.type = "text/javascript"; sc.async = true;sc.src = "//mixi.media/data/js/95481.js"; sc.charset = "utf-8";var s = document.getElementsByTagName("script")[0]; s.parentNode.insertBefore(sc, s); }()); window._F20 = window._F20 || []; _F20.push({container: 'F20WidgetContainer', placement: '', count: 3}); _F20.push({finish: true});.....»»

Category: blogSource: valuewalk9 hr. 29 min. ago Related News

Fevertree – Inflation And Logistical Disruptions Continue To Keep Profit Outlook Subdued

In the first quarter, Fevertree Drinks PLC (LON:FEVR)’s seen bar and restaurant sales gain momentum in the UK following a tough start to the year where Omicron impacted trading. In the US and Rest of World, sales are ahead of pre-pandemic levels. Sales in UK shops have continued to return to normal levels, as consumers […] In the first quarter, Fevertree Drinks PLC (LON:FEVR)’s seen bar and restaurant sales gain momentum in the UK following a tough start to the year where Omicron impacted trading. In the US and Rest of World, sales are ahead of pre-pandemic levels. Sales in UK shops have continued to return to normal levels, as consumers shift spending to bars and restaurants, following lockdowns. In the US, demand remains ‘very strong’ with sales 2.5 times higher than pre-pandemic levels. 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 Series in PDF Get the entire 10-part series on Charlie Munger 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); Q1 2022 hedge fund letters, conferences and more Efforts to scale up production in the US continue as the group looks to reduce reliance on shipping, where higher costs and delays are hindering trading. On the West Coast, bottling lines are operational with the East Coast expected to ramp up production in the first half. The group called out continued inflationary cost pressures and expected performance this year in line with previous guidance. Revenue is expected between £355m-£365m with cash profit (EBITDA) of £63m-£66m. The shares were unmoved following the announcement. Fevertree's Earnings Matt Britzman, Equity Analyst at Hargreaves Lansdown “Management described trading so far as ‘solid’ and it’s certainly nice to see the group on track for guidance, but we must not forget that was downgraded in March which was met with a nasty market reaction. The main issue this year, is that little to none of the c.16% forecast rise in revenue is expected to drop into cash profits and whilst that’s hardly unusual, given the wider macro conditions meaning costs are rising for pretty much everyone, some of Fevertree’s operations should be getting more efficient. One of the main issues called out for rising costs is shipping to the US, it’s a key growth area for the group so servicing that demand is essential. Positive steps are underway to bottle directly in the US and therefore avoid a lot of freight costs, that partnership with a local bottling company is well underway and ramping up production this year. However, we’re still yet to see any real benefit on margins which are still expected to drop quite significantly this year. There are some positives for the longer-term investment case, growth outside of the saturated UK market looks promising and increased demand for premium alcohol and mixers looks to be stickier than first anticipated. However, when investors are expected to pay 36 times earnings for a slice of the pie, in today’s world, those margins need to start moving in the right direction.” About Hargreaves Lansdown Over 1.7 million clients trust us with £132.3 billion (as at 30 April 2022), making us the UK’s number one platform for private investors. More than 98% of client activity is done through our digital channels and over 600,000 access our mobile app each month. 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Category: blogSource: valuewalk9 hr. 29 min. ago Related News

Intercepted audio reveals a Russian soldier trying to pull strings to get sent home from the war, Ukraine alleges

"Everyone is already tired of it all and everyone is on strike," a Russian soldier allegedly said to his parents, adding that things are "pointless." Russian servicemen stand guard at the destroyed part of the Ilyich Iron and Steel Works in Ukraine's port city of Mariupol on May 18, 2022, amid the ongoing Russian military action in Ukraine.Photo by OLGA MALTSEVA/AFP via Getty Images Ukraine's defense ministry published an intercepted call between a Russian soldier and his parents.  In the purported call, the soldier says his unit is on strike and that he's trying to scheme his way out of the war.  Ukrainian intelligence alleged the number of Russian troops who refuse to fight is "growing." Ukraine's defense ministry published intercepted audio of Russian troops claiming to be on "strike" and trying to pull strings so they can get sent home from the war.In a conversation released on Tuesday by Ukraine's intelligence division, a Russian soldier told his parents that his unit is on strike after relocating positions — "from a shithole to another shithole." "Everyone is already tired of it all and everyone is on strike," the soldier, identified as Andrey, said. "They threw us off the highway into the fields, and nothing was equipped there. Everyone is already tired of it all and everyone is starting to rebel," adding that his work is "pointless." Andrey's father responded that his son's 90-day service period will end soon, but the son shuts him down on the purported call. "90 days is off the plate. We have already been told to not even think about it," Andrey said, adding that he was told his deployment in Ukraine would last until "the end of the operation, and then another two months." Andrey then asked his parents to get a certificate saying he has high blood pressure so he could go home, citing some fellow soldiers who managed to leave the war.    "Let's try to get you out of there," Andrey's father responded. On the reported call, Andrey's mother said a mutual acquaintance's unit of 400 Russian soldiers surrendered their weapons and were brought to Donetsk, where they were treated like "dissidents" and "revolutionaries."The acquaintance was then placed in the sanatorium department of a mental hospital "so that when he is discharged, he can drive a car and work," the mother said on the call.Ukrainian intelligence alleged in its post that "the number of those who refuse to fight against Ukraine in the so-called [Donetsk People's Republic] is growing," Russian forces have struggled with low morale throughout the invasion, according to intelligence reports. Other issues — like poor communication and a fierce Ukrainian resistance — have forced Russian troops into a grinding and bloody campaign in the eastern Donbas region. Ukraine has claimed that tens of thousands of Russian troops have died so far, though Western states estimate the figure is lower. Translations by Oleksandr Vynogradov.Read the original article on Business Insider.....»»

Category: topSource: businessinsider9 hr. 29 min. ago Related News

Twitter jumps after the company tells employees its deal with Elon Musk is still on and that it won"t renegotiate the $54.20 takeover price

There is "no such thing as a deal being on hold," Twitter's top lawyer Vijaya Gadde told employees during the meeting. In this photo illustration, the Twitter logo is displayed on the screen of the phone, with Elon Musk's Twitter account in the background. (Sheldon Cooper/SOPA Images/LightRocket via Getty ImagesTwitter stock jumped 3% on Thursday after the company told employees that its deal with Elon Musk is not on hold.Bloomberg also reported that the social media company would not renegotiate its deal price of $54.20 per share.Musk recently tweeted that his deal to buy Twitter was "on hold" as he gets to the bottom of how many fake accounts are on the platform.Twitter stock spiked as much as 3% on Thursday after Bloomberg reported that the social media company told employees its deal to be acquired by Elon Musk is moving forward as planned.That's despite several tweets from Musk over the past week saying he put the deal "on hold" as he assessed how many fake bot accounts are on the platform. Twitter says about 5% of its accounts are fake, while Musk believes that number is closer to 20%.There is "no such thing as a deal being on hold," Twitter's top lawyer Vijaya Gadde told employees during the meeting, according to Bloomberg. Additionally, Twitter said that it wouldn't renegotiate on the deal price, which currently stands at $54.20 per share, or about $44 billion.Musk could be getting cold feet to purchase Twitter, or he may want to lower the purchase price given that Tesla has erased more than $400 billion in market value amid the ongoing market slump. Musk has planned to put up more than $10 billion of his Tesla stake as collateral to obtain financing to buy Twitter.If Musk walks away from the deal, which could be difficult because he signed a contract, he would owe Twitter $1 billion in breakup fees. Musk could be trying to avoid paying that breakup fee by arguing that Twitter has more bots on its platform than it had originally said.But Twitter seems firm in its stance that Musk is set to buy the company at its agreed upon price. Twitter CFO Ned Segal told employees during the meeting that Twitter executives are still engaging with Musk and his team, working with them "regularly" to close the deal, according to the report. While Twitter hasn't wavered in its goal to seal the deal, the stock market doesn't think it will happen, based on the large spread between the agreed upon purchase price and what Twitter stock currently trades for. On Thursday, shares were 30% below the $54.20 deal price.Read the original article on Business Insider.....»»

Category: topSource: businessinsider9 hr. 29 min. ago Related News

Target Analysts Take Aim At Stock"s Future: What They"re Saying After Q1 Earnings

Target Corp (NYSE: TGT) reported worse-than-expected earnings results on Wednesday, which led several analysts to lower price targets on the stock. Off Target: Target said first-quarter revenue increased 4% year-over-year to $25.17 billion, which beat the $24.37-billion estimate, according to data from Benzinga Pro.  The retailer reported quarterly earnings of $2.19 per share, which came in well below the estimate of $3.07 per share.  The operating income margin rate also came in well below expectations at 5.3% in the first quarter compared with 9.8% in 2021. The company said it was primarily driven by gross margin pressure reflecting actions to reduce excess inventory as well as higher freight and transportation costs. "Throughout the quarter, we faced unexpectedly high costs, driven by a number of factors, resulting in profitability that came in well below our expectations, and well below where we expect to operate over time," said Brian Cornell, chairman and CEO of Target. See Also: Target Shares Plunge On Q1 Bottom-Line Miss, Margin Pressure Analysts Take ...Full story available on Benzinga.com.....»»

Category: earningsSource: benzinga10 hr. 43 min. ago Related News

How To Tell Whether It’s Time To Expand Your Business

You started your company with a bankable idea, a tiny space, and an even smaller group of employees. Like many entrepreneurial beginnings, maybe it was just you and one other person in a home office or garage. But lately, that smaller space and team don’t seem enough to handle the business coming your way. Is […] You started your company with a bankable idea, a tiny space, and an even smaller group of employees. Like many entrepreneurial beginnings, maybe it was just you and one other person in a home office or garage. But lately, that smaller space and team don’t seem enough to handle the business coming your way. Is it time to expand your business? You’ve been thinking about expanding and are excited about the possibilities your decision might bring. For example, the company could open another location, serve more customers, or venture into new product lines and services. 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); Q1 2022 hedge fund letters, conferences and more While your enthusiasm is growing as you drum up new ideas, you’re unsure whether now is the right time. So how can you be confident that expanding your business is a smart move? First, let’s look at some of the signs that it may be time for your company to branch out. Industry and Market Opportunities Are Increasing If your industry is taking off, there’s a good chance your business can capitalize on that growth. Changes in purchase behaviors, new tech developments, or market forces can create expansion opportunities for existing business lines. Sometimes this means creating new products or services that piggyback off current ones, or it might signal the need for bolder strategic decisions. Nurx, a telehealth provider that started offering online birth control, recently decided to provide mental health treatment options. The expansion move resulted from rapid growth in the mental health space, increasing interest in telehealth services, and a strategic decision to help develop them. While the company’s birth control service line was well established, its leaders recognized that mental health patients desired the same privacy and convenience. When it comes to health care, making appointments, locating clinics, and visiting pharmacies can become barriers to access. A broader range of telehealth services expands care access and removes many of those barriers, especially in remote areas. Increased use of telehealth services during the pandemic also acclimated more patients to its conveniences. All these factors presented an opportunity for the company to improve care access in various locations and become a part of the solution. Volume or Demand Exceeds Current Capacity You’ve consistently got more orders and work than your staff can handle. While that may seem like a good thing, it also means you have to turn work away. Alternatively, you can take longer to fulfill customers’ orders or reduce quality levels. None of these options work in your company’s favor, as existing clients will grow frustrated and disappointed. Eventually, word will get out, and negative perceptions might make it difficult to retain current customers or capture new business. When volume, demand, or customer need outpaces your company’s capacity for fulfilling it, expansion plans should be on the table. What if Amazon hadn’t increased the number of its fulfillment centers, distribution nodes, and employees? The company wouldn’t be the online retail giant and technology solutions provider it is today. Between 2010 and 2018, Amazon’s workforce grew from 33,700 to 647,500. This headcount growth supported business expansion efforts into new markets as demand for products and services increased. Although not every business experiences identical demand rates, aligning internal capabilities with external expectations is a must. If a business is picking up, it’s time to reevaluate your operational and product strategy. Seasonal surges might call for hiring temps or contractors. But overflowing stores and overworked employees often signal the need for additional locations and extra permanent staff. Customer demand for more related products and services might mean it’s time to hire more employees with matching expertise. Your Business Has a Single Cash Cow Relying on a single product line or one client for most of your revenue could mean it’s time to expand. Overdependence on one line of business can lead to future financial problems. If you’re a brand-new startup, this might not apply to your situation. Many businesses begin generating income with a single service, product, or customer. But overdependence can become a liability if it’s been several years since you opened your doors. While that client or product might be bringing in most of your revenues now, what happens if they go away? The customer’s needs could change, and they could decide to move in a different direction. Your client might go under, merge with another company, or cut costs — one of those cost cuts might be what your business offers. Products and services can also fall out of favor or become obsolete. Losing your cash cow can jeopardize your company’s financial sustainability. It’s vital to keep these facts in mind as you seek to expand your business. Expanding your offerings and client base is like diversifying an investment portfolio. You reduce the risk of loss by decreasing your dependency on a single revenue source. And your company potentially increases its exposure to various industries and markets with balanced threats and opportunities. Business is Plateauing All products and services go through life cycles. Successful offerings typically launch with a healthy dose of fanfare. They catch on quickly and sustain growing adoption rates. Yet that growth eventually reaches its peak and plateaus. Some products and services can stay in the plateau stage for a while before sales start to decline. But others fall off more rapidly, causing leaders to have to decide whether to try to revive or discontinue them. Slowing sales and declining interest in your company’s products and services could be additional signs that you need to expand You might not be ready to stop producing an item yet. However, you need to ramp up a replacement for when you do. Examining market signals, customer feedback, and sales numbers will point you in the right direction. Is there growing temporary demand for a substitute, or are market disruptions pushing products and services like yours out? With disruptive forces, you’ll need to act more decisively. Kodak is an example of a company that largely ignored technology changes and new inventions that reshaped the photography landscape. Leaders banked too much on Kodak’s existing core strengths and products and missed the shift to digital photography. Although the firm dabbled with the idea, it failed to fully invest in digital product expansions. Instead, resources remained concentrated on conventional product lines. Recognizing the signs of plateauing offerings and the need to expand to meet market changes can literally save your business. Conclusion Many business owners struggle with the idea of expanding their core products or services. Besides research and development costs, there’s the question of timing. Uncertainties about whether the market will accept your new offerings and whether you can reasonably fulfill those needs may arise. Although success could involve some trial and error, recognizing specific signs can help business leaders make profitable expansion decisions. Your company might be ready to expand if industry opportunities are on the rise or your volume exceeds current capacity. Additional signals include an overreliance on a single product and plateauing sales. Acting on these hints that it’s time to make changes can increase your company’s chances of coming out on top. Article by Brad Anderson, Editor In Chief at ReadWrite About the Author Brad is the editor overseeing contributed content at ReadWrite.com. He previously worked as an editor at PayPal and Crunchbase. You can reach him at brad at readwrite.com. 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Category: blogSource: valuewalk10 hr. 45 min. ago Related News

Warner Bros Discovery CEO Explains Decision To Shut Down CNN+

Following is the unofficial transcript of a CNBC exclusive interview with Warner Bros Discovery Inc (NASDAQ:WBD) CEO David Zaslav on CNBC’s “Squawk Box” (M-F 6AM – 9AM ET) today, Wednesday, May 18th. Following is a link to video on CNBC.com: Warner Bros Discovery CEO David Zaslav Explains Decision To Shut Down CNN+ JOE KERNEN: The newly […] Following is the unofficial transcript of a CNBC exclusive interview with Warner Bros Discovery Inc (NASDAQ:WBD) CEO David Zaslav on CNBC’s “Squawk Box” (M-F 6AM – 9AM ET) today, Wednesday, May 18th. Following is a link to video on CNBC.com: Warner Bros Discovery CEO David Zaslav Explains Decision To Shut Down CNN+ JOE KERNEN: The newly combined Warner Bros Discovery is about one month into its new era as a global entertainment company. Joining us now in an exclusive interview, his first since the merger closed is David Zaslav, Warner Bros Discovery CEO. It’s great to have you on set. .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 Ray Dalio Series in PDF Get the entire 10-part series on Ray Dalio 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); Q1 2022 hedge fund letters, conferences and more ZASLAV: I got all dressed up. KERNEN: You did. ZASLAV: For you and Becky. KERNEN: You did. BECKY QUICK: I like those suits too. KERNEN: You look good and the less color and the more sort of just static color, that's a Hollywood thing. You don't need to be flashy out there because you you're you've made it. You've arrived. And you live out— ZASLAV: Thank you. KERNEN: Don’t you live out there now? ZASLAV: Between New York and LA. KERNEN: You do. So you came into this at a really interesting point given what we've seen with with streaming and Netflix and across the board, Disney all these things that have happened when you came in, but you with that CNN+ move, you already seem to grasp sort of the changing landscape. Is that fair to say, David? ZASLAV: Well, I don't know that any of us really fully grasp it because we're trying to figure out what the consumers want. So when when we conceive this transaction, we just thought the idea of multiple people going into multiple places to get their content was a challenge and to keep it really, really simple. We have the best in entertainment and lifestyle and sports and news and make it all available to the extent that you can in one place in an easy package so everyone in the family can enjoy the product. So and I think, you know, we have great content. And so, as we begin to navigate whether we're right or whether we're wrong and how people want to consume content, we have I think the best content. KERNEN: But you’ve got some synergy promises in terms of what you can save and you've also got some debt obviously to deal with and you've got this sort of this new paradigm that we're looking at. All that put together makes me think they might have the right guy because you might not be very nice in certain ways about about things that you need to do. ZASLAV: You know, you guys know that I'm nice. But— KERNEN: No, you are nice. You know what I’m saying you know how to run a company with— ZASLAV: This isn’t about, this isn’t show friends, this is show business. This is all— KERNEN: You’re not going to blow a lot of money. You’re not going to blow a lot of money chasing— ZASLAV: No. We’re very disciplined. We invest where we think we can get return. This is a business and it's a great business and one of the things I think that became quite clear in the last month and a half in this market disruption is Netflix is a great, great company. And it's been the market leader for many, many years for our business and in in many ways, it's sort of said to everyone, it's all about streaming and it's all about streaming growth. But we've always felt that it is about streaming and streaming growth, but it's also about business fundamentals. It's about free cash flow, it's about earnings. And when you look at the Warner Bros Discovery company, we're generating real earnings, real free cash flow. We’re, you know, here in the US we have the upfront coming up today and we're larger than any one of the broadcasters and their portfolios and we go to market with a real good business, our traditional business here in the US. We’re the largest international business and so you know, I think as we look at ourselves, we're very diversified. QUICK: If if the, if this is back on your playing field, look, if everybody has to operate in a real business environment like you're doing you're you're playing your game from a position of strength on that. But you just said you're going to be disciplined. You're not going to spend the money on this. People have heard that loud and clear. Ari Emanuel was here last week and he said, look, whatever Zaslav and the rest of them say they're still going to have to pay for content that this is a really big place for it. If they don't pay up, they'll miss out on the best content. How do you kind of square up what he's seeing with your idea that look, we're going to be disciplined with this and the spend? ZASLAV: Well, first, I think Ari’s right. This year, we're spending $22 billion on content. The question is as you look at HBO and HBO Max right now, it's Casey's doing an amazing job. Some of the best maybe the best content out there right now, whether it's “Euphoria” had 25 million people watching on Sunday night, “Gilded Age,” “The Staircase,” the “Game of Thrones” prequel is coming “House of Dragons.” So the question is, you have “Hacks” that just launched if you have “Gilded Age,” if you have “Hacks,” if you have “The Staircase,” if you have “Euphoria,” and you have the biggest TV library and movie library and lifestyle library, you know, how many series do you need at one particular time and as opposed to saying, you know, let me have 10 new series this quarter. It may be that when you have when you have “Friends” and “Big Bang” and all the movies and all of our lifestyle that we only need four great series, or five or six. So we're going to look at how much do we need to nourish an audience not just let's throw everything that we have at it and, you know, from a diversity perspective, we have all the different content that we can put in. We can even put news in which we've done in Europe. KERNEN: Well I want to ask you about that because I don't, I don’t, is there a big market for news on streaming? Does it work? ZASLAV: I think there is. KERNEN: You do. ZASLAV: Well first we have, we have CNN.com, which is the largest digital news business in America. KERNEN: Right, okay. ZASLAV: So when people want to get what's happening in America, there was a shooting, what happened with the election, there's more people that go to CNN online and the advertisers get the support, be supportive of that. In Europe and in for instance in Poland where we have a very big news business, we put it together with news, sports and entertainment in our offering in our streaming product, our SVOD product, and it reduced churn and it increased subscribers and it's because the the churn goes down and growth goes up when more people in the home use the product and when they use it more often and news just happens to be a product that people check in on like we check in with you every morning. KERNEN: You remember the last time we saw you in Pebble and you weren't able to really comment on CNN+ and what was going to happen. Now we know so I want to, I just want to can you tell us any more about what happened? I guess you want to look forward. You don't want to look back, but that was a little bit, I don't know whether it's surprising but it was very quick. Were you sending a message about how you're going to manage this company with that and why’d they launch? Were you unable to say anything before then, did they rush it, what what really happened, David? Can you tell us now, now that it's in the past? ZASLAV: Well look, I think it's appropriate that they were running their business, you know, under the laws right until you own a business. KERNEN: You can't— ZASLAV: People that own it get to decide what to do with it. We're very focused on CNN, we believe CNN is is a critical asset to us. It's a leader in news gathering around the world. We're focused on having, you have most of the cable networks, news networks around the world and here in the US, they’re advocacy networks. They're out, they’re advocacy networks to the left, advocacy networks to the right. We think there's a real opportunity for CNN— KERNEN: Remember John Malone said maybe hire some journalists that might that might be the first idea at CNN. Do you have the right journalists there now to cover news that’s not advocacy? ZASLAV: Look, we have great, well first we have a great, we probably have, we do have the largest number of journalists in the world. We have, we have 81 people in Poland, the Ukraine and Russia right now. KERNEN: You keep going over there to talk to sell the strengths of CNN. Don’t you, you have strengths here, right? ZASLAV: We have great strengths here. We think we have more journalists in the US than anyone else. But what we're going to do with Chris Licht is going to do is, as there are networks here that are advocating right and left, Chris is going to be advocating for truth. He's going to be advocating for facts. He's going to be advocating for journalism first. And I think, you know, I think there's a very big lane for CNN. I think people in America are, they're looking for a place where people aren’t yelling and giving opinions, you know, and they're looking for more news and so that's what you'll see from CNN. On CNN+, there was no message it was a business decision. We looked at it and we looked at the data, the number of users they had spent an enormous amount of money trying to sell an independent product. The subscribers weren't there, the users weren't there. We looked at it together. We had a chance to look at all the data and when we looked at the data, it was, the business wasn't there. KERNEN: You fired McKinsey? Those numbers were a little they were they were a little pie in the sky would you say what was possible? Did you send a message by by by cutting your losses and saying this is a way it's going to be for the rest of the business. When I need to something, I’m going to do it with a— ZASLAV: If we saw good numbers, and we thought that there was a real market for an independent news service for $6, we're, you know, we we would have driven that as a real business. Philosophically, we thought having been in business in Europe now for the last 10 years in direct to consumer that simple for consumers is easier. And so we tried independent sport, we tried independent products, and in the end we landed that putting it all together in one product with more value was what worked best. QUICK: Does that mean putting Discovery+ and HBO Max together? ZASLAV: We will. We will come to market with one product. QUICK: Everything, CNN mixed in. ZASLAV: All, we gotta decide what we do with CNN. But there will be some of CNN news’ product on there. They're already, they're already is and we're going to make an announcement today on more that will be on there. But we will have one product and I think it's going to be really compelling because it's, Netflix has a great product. Disney has a has a terrific product. But the diversity of content that we have, whether it's the the great HBO content, the great library content, “Friends,” “Big Bang Theory,” the great movies, the biggest movie library and then we have food, HG, Discovery, Oprah, Chip and Joanna Gaines and when we put that all together, I think we're going to see something that will appeal to everyone in the family and we've gotten some hints on it. HBO Max is doing great and has tremendous appeal. Huge audiences come in. We don't get that kind of audience at Discovery+. KERNEN: Quality. Makes a difference, yeah. ZASLAV: 20 million people. And on in Discovery+, we have very low churn and we're still doing very nicely so together we think we're gonna have a great product. QUICK: Andrew’s just got a question. ANDREW ROSS SORKIN: Hey David. As one of the great dealmakers of our time and I I want to get your perspective on just what the rest of the chessboard looks like at a conference where that was actually the conversation at dinner last night in terms of further consolidation in this industry as everybody was chasing or at least thought they were chasing a Netflix like multiple. Now that that multiples no longer there and actually some prices of things have actually come down, how you think the rest of it shakes out? We just saw Warren Buffett's Berkshire Hathaway buy a piece of of Paramount Global. What do you think regulators would allow, wouldn't allow at this point in the ballgame? ZASLAV: Well, thanks. Good to see you, Andrew. First it's actually a year ago yesterday that that we announced our deal and we were able to get the deal done and approved in less than 11 months. And so for us, the process was quite effective. And it's exciting that we're able to get it done and be in a position to go to the advertising market now. Our number one focus is how did the assets that we have work for us in in the in the marketplace that we're facing today, and we're the largest maker of content with Warner Bros. Television and Warner Bros. Motion Pictures. We have together 100 million subscribers about between Discovery and and Warner as Warner Bros Discovery. And we have a great traditional business around the world with free to air channels and cable channels and sports and news and so I feel like strategically we’re quite complete and we're probably the most complete and diversified media company in the world. And so, you know, for us, we're going to be head down, let’s drive this business. Let's get a single product into the market. Let's show how much free cash flow that we can generate. And let's show that we have a diversified real growth business. That's real. I do think that the world is changing that, you know, if you look at at the leader in our business as Netflix, they were leading and we the the currency was subscribers, not free cash flow. And so as the market determines how they're going to value different media companies, it'll have a real impact on what people chase. From our perspective, we're not chasing anything. We've always been very clear, free cash at Discovery, free cash flow is king. We want to drive real growth, get more people spending time with our content on all platforms and if we do that and we make real money, that ultimately the market will give us, you know, substantial value for that. KERNEN: You’re a, you’re a movie mogul now too. Should should Adam Aron go full into just lithium mining or do we keep the theaters? You were recently named on the board of Cinematheque, what Americans, does that mean you see the value of the big opening and is that going to continue? ZASLAV: Look, I've said from the day that we closed this, that we announced this transaction, we have Warner Bros. Motion Pictures. It's 100 years old in six months. There's nothing like the big screen and you go with your friends, the lights go down and you look up at that big screen— KERNEN: Right, the popcorn. ZASLAV: And it's it's magic. KERNEN: The fake butter, there’s a lot— ZASLAV: It changed the culture, it changes the way people see things. It changes the way people see themselves. And that's not going away. The last year— QUICK: But is that theatrical release window going to be shorter? ZASLAV: I think it’ll be shorter but look, what we've learned so far is when Batman came back to HBO Max after 45 days, it was a very strong driver and the more research, we see this idea of going direct to streaming, I never thought it made sense. Why would you collapse a great business? QUICK: But a shorter window is— ZASLAV: A shorter window works because if you you know if you market what you do aggressively for these titles, and then you tell somebody that this is important and they hear word of mouth. For instance, we're about to do that, do this on “Elvis,” which we're going to launch soon. Then when it hits the streaming service, the feeling is it's something special. And so I think you'll see some of the streaming companies saying I gotta get into the motion picture business. KERNEN: Would you— ZASLAV: So I think what's old is going to be new again and we have that that's a big strength— KERNEN: Have you had a conversation with, Alan Horn is a friend of yours isn’t he, have you had a conversation— ZASLAV: I love Alan. KERNEN: Have you had a conversation with him about he's 79 that doesn't mean anything anymore, does it. I think the president’s, would you bring him back? ZASLAV: The gift of the last 11 months is I haven't been able to I wasn't able to do anything until this deal closed but I was able to talk to a lot of people. There's a lot that I don't know. There's a lot that we as a company don't know and so I spent a lot of time with Alan. I spent a lot of time with with with with most of the old leadership at at Warner together with the with with with the industry. I spent a lot of time with Bob Iger. What did he do well, and I had a real chance to kind of get a sense of also what mistakes did they make? You know, now we were going to have to make it happen. I'm very confident. We've been in there for 30 days and we see even more opportunity. You know that it's it's messy, but we expected it to be messy, but the messier it is, the more cleanup we could do and the more we can grow this business. QUICK: You've guided the street to leverage of two and a half to three times within 24 months. How do you get there and is that an easily achievable goal? Is that tough to hit? ZASLAV: We have a lot of businesses that are generating a lot of value. We just got in so we need to now kind of level set. We weren't really able to see a lot now we've seen a fair amount, but it's probably going to take us a little a little longer as we get to our first our next quarter earnings, we're going to lay out a real plan. Here's how we’re coming to market. Here's what we found. It's better than we thought. Some of it's worse than we thought maybe it's you know, we will we'll do a full level set on where we are, you know, by as we come to market in the first— QUICK: I just want to clarify you said it's probably going to take a little longer. Did you mean a little longer before you announced more plans or a little longer than 24 months to get to that leverage? ZASLAV: No it's going to be a little longer until we have full clarity of exactly what we're going to do and when. Updated on May 19, 2022, 12:48 pm (function() { var sc = document.createElement("script"); sc.type = "text/javascript"; sc.async = true;sc.src = "//mixi.media/data/js/95481.js"; sc.charset = "utf-8";var s = document.getElementsByTagName("script")[0]; s.parentNode.insertBefore(sc, s); }()); window._F20 = window._F20 || []; _F20.push({container: 'F20WidgetContainer', placement: '', count: 3}); _F20.push({finish: true});.....»»

Category: blogSource: valuewalk10 hr. 45 min. ago Related News

Mitchells & Butlers – Sales Bounce Back In Q2 But Outlook On Costs Is Bleak

Mitchells & Butlers plc (LON:MAB)’s first half revenue of £1.2bn reflects a 1.0% increase in like-for-like (LFL) sales compared to pre-pandemic levels. Sales benefited from the reduced rate of VAT on food and non-alcoholic drinks, which has now ended. An increase of 6.9% in LFL food sales was accompanied by a similar sized fall in […] Mitchells & Butlers plc (LON:MAB)’s first half revenue of £1.2bn reflects a 1.0% increase in like-for-like (LFL) sales compared to pre-pandemic levels. Sales benefited from the reduced rate of VAT on food and non-alcoholic drinks, which has now ended. An increase of 6.9% in LFL food sales was accompanied by a similar sized fall in drinks. Underlying operating profit of £120 was up from a loss of £124m last year. Inflationary pressures from wages, food and energy continue to present a “major challenge” to the sector and are expected to impact margins in the short to medium term. 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 Walter Schloss Series in PDF Get the entire 10-part series on Walter Schloss 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); Q1 2022 hedge fund letters, conferences and more The shares fell 1.0% following the announcement. Mitchells & Butlers' Earnings Matt Britzman, Equity Analyst at Hargreaves Lansdown “First half results are very much a tale of two quarters, the year started with yet another setback for the pub sector with Omicron restrictions and fears keeping the pints from flowing. There’s at least some positive news coming over the second quarter with sales returning to growth territory, a trend that’s seen continuing over the last few weeks too despite VAT on food and non-alcoholic drinks returning to its 20% level. The worrying signs are two-fold, volumes remain 10-15% down with sales being propped up by strong performance from food and customers opting for more premium offerings. With VAT levels back up and a cost-of-living crisis that we arguably haven’t seen the worst of yet, whether it’s sustainable for consumers to keep spending more on eating out remains to be seen. Then there’s the issue of 11.5% higher costs expected this year relative to 2019 levels, with no immediate end in sight the impact on margins is expected to extend into the medium term.” About Hargreaves Lansdown Over 1.7 million clients trust us with £132.3 billion (as at 30 April 2022), making us the UK’s number one platform for private investors. More than 98% of client activity is done through our digital channels and over 600,000 access our mobile app each month. Updated on May 19, 2022, 12:53 pm (function() { var sc = document.createElement("script"); sc.type = "text/javascript"; sc.async = true;sc.src = "//mixi.media/data/js/95481.js"; sc.charset = "utf-8";var s = document.getElementsByTagName("script")[0]; s.parentNode.insertBefore(sc, s); }()); window._F20 = window._F20 || []; _F20.push({container: 'F20WidgetContainer', placement: '', count: 3}); _F20.push({finish: true});.....»»

Category: blogSource: valuewalk10 hr. 45 min. ago Related News

US gun production has almost tripled over the past 20 years and "ghost guns" are on the rise

The same year that gun sales surged, firearm-related homicides in the US hit their highest level since 1994, according to data from the CDC. Gun sales on Black Friday 2021 soared, ranking among the top ten highest days for gun-related background checks..Keith Srakocic/AP US gun makers made almost three times as many firearms in 2020 as 2000, according to a new federal report. The number of untraceable "ghost guns" is also on the rise in the US, the report said. The expansive report is part of Biden's efforts to stop illegal gun sales. US gun makers made 11.3 million legal firearms in 2020 — nearly triple the 3.9 million guns that were produced 20 years prior, according to a federal report that was released on Tuesday.Merely three days after a mass shooting in Buffalo, New York left 10 people dead and three more injured, the Bureau of Alcohol, Tobacco, Firearms and Explosives (ATF) released the first comprehensive analysis of gun sales in over 20 years. The report is a part of President Joe Biden's work to stop illegal gun sales.The report shows that in 2020 — the same year gun sales surged — firearm-related homicides in the US hit their highest level in 26 years, according to data from the Centers for Disease Control and Prevention. In 2020, the agency reported 19,350 firearm homicides, 35% more than the previous year.The data is not altogether unexpected. Last year, Insider reported that the FBI processed a whopping 39.7 million firearm background checks in 2020. Background checks are not a direct representation of the number of guns sold, as the data includes checks related to concealed-carry permits and suppressor sales, in addition to gun sales. But they're still an important indicator of sales, and the number of background checks was the most the agency has ever seen since it started recording the data in 1998. The National Shooting Sports Foundation estimated at the time that about 8.5 million people bought their first gun in 2020.The ATF report also provided data on "ghost guns," which are firearms that can be bought online or 3-D printed and assembled at home. They are virtually untraceable and can be purchased without a background check. The agency said that police discovered over 19,000 ghost guns in 2021 — 10 times as many as were found in 2016. Last month, Biden announced efforts to crack down on ghost guns requiring the gun kits be recognized as "firearms" under the Gun Control Act and treated the same as other commercially-assembled firearms. The new rule is set to go into effect next year.Most gun-related crimes in the nation are caused by guns that are made legally in the US, but stolen, the report said. It said 39,147 firearms were reported stolen by gun stores between 2016 and 2020. That number does not include guns that were taken from individuals, which would likely push the number even higher. The Wall Street Journal reported in April that gun thefts have surged over the past two years.The ATF also reported a shift in consumer interest in guns as semi-automatic handguns began to outsell rifles as early as 2009, indicating a potential shift in gun purchases for hunting sport versus physical defense."We can only address the current rise in violence if we have the best available information and use the most effective tools and research to fuel our efforts" Deputy Attorney General Lisa O. Monaco said in the press release from the Department of Justice. "This report is an important step in that direction. The Department will continue to gather the data necessary to tailor our approach at the most significant drivers of gun violence and take shooters off the streets."Read the original article on Business Insider.....»»

Category: topSource: businessinsider10 hr. 45 min. ago Related News

"Warning lights flashing": the US military is offering record amounts of cash to head off a recruiting crisis

The US military is using record-level enlistment and retention bonuses to attract and keep troops, and those bonuses continue to increase. US Marine Corps recruits do crunches at Marine Corps Recruit Depot San Diego, February 19, 2016.Lance Cpl. Angelica Annastas US military recruiting faces major headwinds as troops leave service and a tight job market lures away potential recruits. The services are using record-level enlistment and retention bonuses to attract and keep troops, and those bonuses continue to increase. Hints that the armed services might soon face a problem keeping their ranks full began quietly, with officials spending the last decade warning that a dwindling slice of the American public could serve.Only about one-quarter of young Americans are even eligible for service these days, a shrinking pool limited by an increasing number of potential recruits who are overweight or are screened out due to minor criminal infractions, including the use of recreational drugs such as marijuana.But what had been a slow-moving trend is reaching crisis levels, as a highly competitive job market converges with a mass of troops leaving as the coronavirus pandemic subsides, alarming military planners.Read Next: Medical Forces Could Be Shorthanded During War Due to Planned Cuts, Milley Says"Not two years into a pandemic, and we have warning lights flashing," Maj. Gen. Ed Thomas, the Air Force Recruiting Service commander, wrote in a memo — leaked in January — about the headwinds his team faces.For now, the services are leaning on record-level enlistment and retention bonuses meant to attract and keep America's military staffed and ready — bonuses that continue to climb.In an interview with Military.com last month, Thomas didn't mince words. He knows he is competing against the private sector to hire people, from technology giants to regional gas stations."If you want to work at Buc-ee's along I-35 in Texas, you can do it for [a] $25-an-hour starting salary," Thomas said. "You can start at Target for $29 an hour with educational benefits. So you start looking at the competition: Starbucks, Google, Amazon. The battle for talent amidst this current labor shortage is intense."Trainees at the 120th Adjutant General Battalion at Fort Jackson in South Carolina, October 30, 2019.Alexandra Shea/Fort Jackson Public AffairsPaired with those competitive offers for workers are a large number of service members retiring, some having delayed leaving the ranks during a pandemic that saw huge instability in the job market.Since fiscal 2020, the US Department of Labor's Veterans' Employment and Training Service — known as VETS — has anticipated that around 150,000 service members would transition out of the military annually as part of its budget justification documents.But in 2020, the Transition Assistance Program, or TAP, the congressionally mandated classes that prepare troops for life outside the military, helped counsel 193,968 service members on their way out of the military, said Lisa Lawrence, a Pentagon spokesperson. That's nearly one-third more newly minted veterans than the Labor Department had planned for.In 2021, that number grew to 196,413. Prior to 2020, the Department of Defense did not report the total number of TAP-eligible service members transitioning, although Lawrence said the number has been somewhere between 190,000 and 200,000 annually in recent years.Payouts aimed at attracting new service members to replace those outgoing veterans are at all-time highs. The Army started offering recruiting bonuses of up to $50,000 in January, and last month the Air Force began promoting up to $50,000 — the most it can legally offer — for certain career fields.The Navy followed with its offer of $25,000 to those willing to ship out in a matter of weeks. It says the bonuses are the result of an "unprecedentedly competitive job market."Cmdr. Dave Benham, a spokesman for the sea service's recruiting command, told Military.com in a recent phone interview that "the private sector is doing things we haven't seen them do before to try and attract talent, so we have to stay competitive."Benham said the scope of the Navy's offer — a minimum of $25,000 to ship out before June — has "never happened before to anybody's collective knowledge around here."Courting and paying for talentUS Army recruits training at Fort Benning.Barry Williams/Getty ImagesThe pandemic economy has placed private-sector workers in the driver's seat, pushing employers to offer more lucrative incentives such as better benefits, flexible work-from-home schedules or massive signing bonuses to make hires. That is putting major pressure on the military as it tries to attract recruits who may be considering the civilian job market.It's all been complicated by the military's myriad of other difficulties getting new troops in the door, such as recruiting efforts quashed by the pandemic, a shrinking pool of eligible recruits, and social media silos complicating advertising.And amid public scandals, such as the 2020 murder of Vanessa Guillén and suicides on the aircraft carrier USS George Washington, military service may seem like a less attractive choice for young Americans."This is arguably the most challenging recruiting year since the inception of the all-volunteer force," Lt. Gen. David Ottignon, the Marine Corps officer in charge of manpower, told the Senate during a public hearing April 27.All of the military's service branches are scrambling to find ways to compete for a younger generation of talent that has plenty of employment opportunities."The military provides a wonderful option for young people, but it's not the only option and so recruiters, I think just like other employers, are trying to understand what the different options are for young people and to address those effectively," said Joey Von Nessen, an economics professor at the University of South Carolina.The bonuses that serve as one of the most immediately tangible lures for new recruits, while escalating, aren't uniform across or even within the services.Most of the bonuses offered for new Air Force recruits range around $8,000 for certain career fields. But for two of the most dangerous jobs, Special Warfare operations and explosive ordnance disposal, the service is making its maximum allowed offer of $50,000 for people to join."It is necessary. I think these are two of our hardest career fields to recruit toward," said Col. Jason Scott, chief of operations for the Air Force Recruiting Service. "It is absolutely necessary to do $50,000 for each of those, and actually $50,000 is the highest initial enlistment bonus amount that we can give."New Marine Corps recruits make their initial phone calls home at Marine Corps Recruit Depot San Diego, May 21, 2018.US Marine Corps/Lance Cpl. Christian M. GarciaOverall, the Air Force is dedicating $31 million to recruiting bonuses in 2022, nearly double what was originally planned for.The Army faces the same problem — and is putting up the same big offers."We're in a search for talent just like corporate America and other businesses; almost everyone has the same issue the military does right now," Maj. Gen. Kevin Vereen, head of US Army Recruiting Command, told Military.com. "We're trying to match incentives for what resonates. For example, financial incentives. Nobody wants to be in debt, so we're offering sign-up bonuses at a historic rate."We've never offered $50,000 to join the Army," he added.In addition to the sign-on bonuses, the Army is also offering new recruits their first duty station of choice — an unprecedented move as new soldiers are typically placed at random around the world. New recruits can choose locations such as Alaska, Fort Drum in New York, and Fort Carson in Colorado."Youth today want to make their own decisions. We're letting them do that," Vereen said.The services are also trying to keep troops from leaving, knowing that a raft of employment opportunities are available for them if they get fed up with military life.The Army, Air Force and Navy have all announced reenlistment bonuses for certain career fields and specialties, some of them in the six-figure range.The Air Force is offering up to $100,000 reenlistment bonuses based on experience and career field. The Navy is also offering those incentives, with fields such as network cryptologists and nuclear technicians making anywhere from $90,000 to $100,000. The Army is offering a more modest cap of $81,000 to reenlist for some jobs.Anecdotally, military families are describing on social media an inability to find open slots for TAP's sessions. Each in-person class is generally limited to 50 people, but Lawrence, the Pentagon spokesperson, denied the program is being overwhelmed since classes are also available in live online, on-demand or hybrid formats.The urgency described by leaders who are putting their money toward keeping skilled service members is a sign of the worry about a brain drain.Unlike the broader enlistment bonuses, many military career fields don't offer cash for reenlistment, and some of these incentives existed prior to the pandemic. But the job market has put pressure on the services to pay up to keep service members in the force.Overweight and hard to reachUS Navy recruits march in formation at Recruit Training Command in Great Lakes, Illinois, May 14, 2020.US Navy/Seaman Amy JohnsonThe military's difficulties attracting recruits go far beyond making the right bonus offer. The forces working against recruiting increased during the grinding global pandemic — lockdowns kept recruiters home and young Americans are refusing vaccines, for example — and are also rooted in longer-term societal shifts in physical fitness and communication."The aggregate effects of two years of COVID is that is two years of not being in high school classrooms, two years of not having air shows and major public events like being in those public spaces, where our potential applicants or potential recruits are getting personal exposure, face-to-face relationships with military recruiters," Thomas said.Only about 40% of Americans who are of prime recruiting age are vaccinated against the virus. Outright refusal to get the shot immediately precludes joining the force and short-circuits any pitch from recruiters. COVID vaccines are among at least a dozen inoculations mandated by the Defense Department."Seventeen-to-24-year-olds are not getting vaccinated, and those [are] people we aren't having a conversation with," Vereen said.Even when potential recruits are interested and big bonuses motivate them to sign on the dotted line, only about 23% of young Americans are even eligible for service.Past legal run-ins or a drug history prevent potential recruits from joining, and more and more Americans are overweight. According to the Centers for Disease Control and Prevention, 40% of adults aged 20 to 39 are obese. That problem has been deemed a national security risk by some because it causes an increasingly shallow pool of potential recruits.The confluence of challenges has others loudly alerting the public that there's a problem.Sen. Thom Tillis, R-North Carolina, the ranking member of the Senate Armed Services Committee personnel panel, says the military is on the cusp of a recruiting crisis.Marine recruits line up for chow.Sgt. Dana Beesley/US Marine Corps"To put it bluntly, I am worried we are now in the early days of a long-term threat to the all-volunteer force. [There is] a small and declining number of Americans who are eligible and interested in military service," Tillis said during an April 27 hearing.He added that "every single metric tracking the military recruiting environment is going in the wrong direction." Just 8% of young Americans have seriously considered joining the military, while only 23% are eligible to enlist, according to Tillis.Meanwhile, the prime demographic for recruiting — 17-to-24-year-olds — is getting harder to reach. The military is running high production value recruiting ads on TV, but most younger Americans are watching YouTube, Twitch and other streaming services.On those platforms, ads are dictated by algorithms based on a person's search history, and prime-age viewers may never be exposed to recruiting spots if they don't already have a general interest in the military.The military has relied on Facebook, with its user base that skews much older, and Instagram pointing users to ads based on their existing interests. The Defense Department banned TikTok from government-issued phones in 2019, shutting out Generation Z's social media platform of choice. However, some recruiters have ignored the ban on the Chinese-owned platform, which is seen by some as a security risk."I know a lot of young people are on TikTok and we're not," Vereen said.When the military does get widespread exposure and makes the news, it can be due to scandals such as the slaying of Guillén at Fort Hood, Texas, or other problems that raise questions about safety and the quality of life in the services.Following a wave of suicides and disclosure of a lack of basic amenities such as hot water and ventilation aboard the George Washington, Master Chief Petty Officer Russell Smith, the Navy's top enlisted leader, was asked by a sailor why the service was spending so much on new recruits, specifically mentioning the hefty $25,000 bonus."I gotta use those bonuses to compel something. ... A post-COVID workforce doesn't love the idea that they have to, they actually have to go to work, talk to people, see them face-to-face, exchange ideas and do work," Smith told the crew, according to a Navy-provided transcript. "They would rather phone it in or work from home somehow and, with the military, you just can't do that."US Navy recruits in the galley of the USS Triton barracks at Recruit Training Command.Scott A. Thornbloom/US NavySome sailors said it didn't seem like the service was prioritizing making its current ranks happy or financially incentivizing them to stick around. Smith said the Navy already offers some bonuses to in-demand specialties and that if a particular job doesn't offer one it's because enough of those sailors "love the work that they do ... and when they do, I don't have to use money as leverage."Smith also told the sailor that he "can compel [them] to stay right here for eight years." Most contracts have an inactive period of reserve service built in following the end of active duty that the Navy can tap into."So, you want me finding sailors to come in and relieve you on time," Smith added.The military services hope the new bonuses will overcome all the difficulties and that they will meet recruiting goals for the year. But the numbers are not encouraging so far.The Army has an uphill climb for the rest of the year, having recruited just 23% of its target in the first five months of the fiscal year.The Navy said that, in order to reach its recruiting goal this year, it will have to reduce the delayed-entry program — allowing someone to enlist before they plan on actually shipping out — to below "historic norms," which could in turn cause recruiting issues in future years.There's likely no relief in sight, according to experts.US population demographics are going in the wrong direction and will make the recruiting job increasingly hard. The millennial and Gen-Z generations are smaller than previous generations, meaning there is a dwindling workforce to pull from. And only a small percentage of those youths appear likely to meet the physical qualifications to join in the first place."I think it's likely that the labor shortage is going to be long-lasting," Von Nessen said. "This is not a short-term phenomenon. It was exacerbated by the pandemic, but it wasn't created by the pandemic exclusively."— Thomas Novelly can be reached at thomas.novelly@military.com. Follow him on Twitter @TomNovelly.— Konstantin Toropin can be reached at konstantin.toropin@military.com. Follow him on Twitter @ktoropin.— Steve Beynon can be reached at Steve.Beynon@military.com. Follow him on Twitter @StevenBeynon.— Rebecca Kheel can be reached at rebecca.kheel@military.com. Follow her on Twitter @reporterkheel.Related: Space Force Offering Bonuses Up to $20,000 for New Guardians with Tech BackgroundsRead the original article on Business Insider.....»»

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Ukraine released intercepted audio of Russian soldiers trying to pull strings to get sent home from the war

"Everyone is already tired of it all and everyone is on strike," a Russian soldier allegedly said to his parents, adding that things are "pointless." Russian servicemen stand guard at the destroyed part of the Ilyich Iron and Steel Works in Ukraine's port city of Mariupol on May 18, 2022, amid the ongoing Russian military action in Ukraine.Photo by OLGA MALTSEVA/AFP via Getty Images Ukraine's defense ministry published an intercepted call between a Russian soldier and his parents.  In the purported call, the soldier says his unit is on strike and that he's trying to scheme his way out of the war.  Ukrainian intelligence alleged the number of Russian troops who refuse to fight is "growing." Ukraine's defense ministry published intercepted audio of Russian troops claiming to be on "strike" and trying to pull strings so they can get sent home from the war.In a conversation released on Tuesday by Ukraine's intelligence division, a Russian soldier told his parents that his unit is on strike after relocating positions — "from a shithole to another shithole." "Everyone is already tired of it all and everyone is on strike," the soldier, identified as Andrey, said. "They threw us off the highway into the fields, and nothing was equipped there. Everyone is already tired of it all and everyone is starting to rebel," adding that his work is "pointless." Andrey's father responded that his son's 90-day service period will end soon, but the son shuts him down on the purported call. "90 days is off the plate. We have already been told to not even think about it," Andrey said, adding that he was told his deployment in Ukraine would last until "the end of the operation, and then another two months." Andrey then asked his parents to get a certificate saying he has high blood pressure so he could go home, citing some fellow soldiers who managed to leave the war.    "Let's try to get you out of there," Andrey's father responded. On the reported call, Andrey's mother said a mutual acquaintance's unit of 400 Russian soldiers surrendered their weapons and were brought to Donetsk, where they were treated like "dissidents" and "revolutionaries."The acquaintance was then placed in the sanatorium department of a mental hospital "so that when he is discharged, he can drive a car and work," the mother said on the call.Ukrainian intelligence alleged in its post that "the number of those who refuse to fight against Ukraine in the so-called [Donetsk People's Republic] is growing," Russian forces have struggled with low morale throughout the invasion, according to intelligence reports. Other issues — like poor communication and a fierce Ukrainian resistance — have forced Russian troops into a grinding and bloody campaign in the eastern Donbas region. Ukraine has claimed that tens of thousands of Russian troops have died so far, though Western states estimate the figure is lower. Translations by Oleksandr Vynogradov.Read the original article on Business Insider.....»»

Category: topSource: businessinsider10 hr. 45 min. ago Related News