Datasets:

chuyin0321

/

news-stocks

like 1

Follow

chuyin0321 2

APD

The Equipment will be Used at the Facility's Ozone Generation Site to Remove Viruses, Bacteria and Pharmaceutical Products from Wastewater LEHIGH VALLEY, Pa., Sept. 7, 2023 /PRNewswire/ -- Air Products has been chosen by the city of Montreal to supply oxygen equipment to support an ozone generation site that will remove impurities from wastewater at the Jean-R-Marcotte Wastewater Treatment Plant, one of the largest wastewater treatment plants in North America.Jean-R.-Marcotte treats almost half of Quebec's wastewater before releasing it into the St. Lawrence River. On average, the wastewater treatment plant releases 2.3 million cubic meters of water into the river per day.As part of its agreement with the city of Montreal, Air Products will provide oxygen equipment, including four vacuum swing adsorption (VSA) oxygen plants, to support the city's new state-of-the-art ozone generation system. The ozone generation system will disinfect the water, removing viruses, bacteria and pharmaceutical products."Air Products is proud to collaborate with the city of Montreal on this important project. Air Products' oxygen generating plants will support the city's efforts to expand a sustainable water purification process to benefit the citizens of Quebec and the wildlife that depend on the St. Lawrence River," said Air Products' Chief Operating Officer, Dr. Samir J. Serhan. "As Air Products celebrates the 50th anniversary of Air Products Canada, this project reflects our continued commitment to Canada."Air Products began operations in Canada in 1973. Since then, Air Products has developed well established operations in Alberta, Ontario and Quebec. As Canada's leading supplier of hydrogen and a leader in the energy transition, Air Products is constructing a $1.6 billion (CAD) net-zero hydrogen energy complex in Edmonton, Alberta. This transformative complex will use an advanced process technology and innovative design to deliver net-zero emissions. The complex also will include a hydrogen-fueled power generation plant and a liquid hydrogen facility that will produce enough liquid hydrogen capacity to fuel every major transit agency in Alberta. Earlier this year, Air Products also announced plans to build Alberta's first multi-modal hydrogen refueling station near its net-zero hydrogen energy complex in Edmonton.Story continuesAir Products pioneered the concept of on-site oxygen production over 75 years ago and today continues to integrate oxygen generation plants into the operations of industrial and municipal users such as glass, nonferrous metals and steel, cement, pulp and paper, water treatment and other industries.For more information on how Air Products' industrial gases can aid in wastewater treatment, visit Air Products' Water and Wastewater website.About Air ProductsAir Products (NYSE:APD) is a world-leading industrial gases company in operation for over 80 years focused on serving energy, environmental, and emerging markets. The Company has two growth pillars driven by sustainability. Air Products' base business provides essential industrial gases, related equipment and applications expertise to customers in dozens of industries, including refining, chemicals, metals, electronics, manufacturing, and food. The Company also develops, engineers, builds, owns and operates some of the world's largest industrial gas and carbon-capture projects, supplying world-scale clean hydrogen for global transportation, industrial markets, and the broader energy transition. Additionally, Air Products is the world leader in the supply of liquefied natural gas process technology and equipment, and globally provides turbomachinery, membrane systems and cryogenic containers.The Company had fiscal 2022 sales of $12.7 billion from operations in over 50 countries and has a current market capitalization of about $65 billion. More than 21,000 passionate, talented and committed employees from diverse backgrounds are driven by Air Products' higher purpose to create innovative solutions that benefit the environment, enhance sustainability and reimagine what's possible to address the challenges facing customers, communities, and the world. For more information, visit www.airproducts.com or follow us on LinkedIn, X, Facebook or Instagram.CisionView original content:https://www.prnewswire.com/news-releases/air-products-to-provide-oxygen-equipment-for-one-of-north-americas-largest-wastewater-treatment-plants-in-montreal-quebec-canada-301920856.htmlSOURCE Air Products

PR Newswire

Air Products to Provide Oxygen Equipment for One of North America's Largest Wastewater Treatment Plants in Montreal, Quebec, Canada

https://finance.yahoo.com/news/air-products-oxygen-equipment-one-140000350.html

270e677c-58ad-3424-ab08-4c23bae2709e

APD

Air Products and Chemicals, Inc. APD has been selected by the city of Montreal to supply oxygen equipment to support an ozone generation site that will remove impurities from wastewater at the Jean-R-Marcotte Wastewater Treatment Plant. It is among the biggest wastewater treatment plants in North America.Jean-R.-Marcotte treats about half of Quebec's wastewater before discharging it into the St. Lawrence River. The wastewater treatment plant discharges 2.3 million cubic meters of water into the river each day on average.Air Products will provide four vacuum swing adsorption (VSA) oxygen plants as part of its agreement with the city of Montreal. The ozone-generating system will disinfect the water by eliminating viruses, germs and medicinal items. Air Products' oxygen-generating plants will aid the city's attempts to expand a sustainable water purification process that will benefit Quebec residents and wildlife that rely on the St. Lawrence River.Shares of APD have gained 13.7% over the past year compared with a 1.6% rise of its industry.Zacks Investment ResearchImage Source: Zacks Investment ResearchAir Products expects full-year fiscal 2023 adjusted EPS of $11.40-$11.50, indicating 11-12% growth from the prior year’s adjusted EPS. For the fourth quarter of fiscal 2023, the company expects adjusted EPS in the range of $3.04-$3.14, suggesting a rise of 7-10% from fourth-quarter fiscal 2022.Air Products expects capital expenditures in the range of $5 billion to $5.5 billion for full-year fiscal 2023.Air Products and Chemicals, Inc. Price and ConsensusAir Products and Chemicals, Inc. price-consensus-chart | Air Products and Chemicals, Inc. QuoteZacks Rank & Key PicksAir Products’ currently carries a Zacks Rank #3 (Hold).Better-ranked stocks in the basic materials space include Carpenter Technology Corporation CRS, Denison Mine Corp. DNN and Veritiv Corporation VRTV.Carpenter Technology currently carries a Zacks Rank #1 (Strong Buy). The stock has rallied roughly 83.2% in the past year. CRS beat the Zacks Consensus Estimate in three of the last four quarters while meeting in one. It delivered a trailing four-quarter earnings surprise of 9.8%, on average. You can see the complete list of today’s Zacks #1 Rank stocks here.Denison Mines currently carries a Zacks Rank #1. The stock has gained roughly 8.9% in the past year. DNN beat the Zacks Consensus Estimate in three of the last four quarters while meeting once. It delivered a trailing four-quarter earnings surprise of 75%, on average.Veritiv currently carries a Zacks Rank #2 (Buy). The stock has rallied roughly 43% in the past year. VRTV beat the Zacks Consensus Estimate in three of the last four quarters. It delivered a trailing four-quarter earnings surprise of 6%, on average.Story continuesWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free reportAir Products and Chemicals, Inc. (APD) : Free Stock Analysis ReportCarpenter Technology Corporation (CRS) : Free Stock Analysis ReportDenison Mine Corp (DNN) : Free Stock Analysis ReportVeritiv Corporation (VRTV) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

Air Products (APD) Offers Oxygen Equipment to Wastewater Plant

https://finance.yahoo.com/news/air-products-apd-offers-oxygen-104000721.html

2fb74495-36f1-3d67-bd08-e866c004234f

APEI

American Public Education, Inc. APEI has been benefiting from improved enrollment trends and solid contributions from the American Public University System (APUS) and Hondros College of Nursing segment (HCN) segments. Also, focus on cost-saving initiatives and affordable tuition bodes well.However, low contributions from the Rasmussen University (RU) segment, and high costs are major concerns.The U.S. healthcare sector is currently struggling with a significant talent shortage, posing a threat to care quality and exacerbating health disparities in communities nationwide. This shortage has been worsened by the pressures faced by the nursing community during the pandemic, leading to increased departures and early retirements from the field.With 22 campuses dedicated to educate new nurses, ATGE believes its RU segment is well-positioned to address this persistent demand and train more aspiring nurses to enter the workforce. ATGE remains optimistic about its role in the nursing and allied health ecosystem and is committed to its mission for students, faculty, and staff.Let’s discuss the factors substantiating its Zacks Rank #3 (Hold).Growth DriversStrong APUS & HCN Enrollment: American Public has been registering an impressive enrollment growth at APUS and HCN. Net course registrations at APUS increased 5.7% year over year in second-quarter 2023. The APUS segment has been benefiting from the increase in military-related registrations from students utilizing TA and increased tuition for nonmilitary students.Enrollment momentum continued for the 14th consecutive quarter at HCN, achieving growth of 22% year over year in the second quarter. HCN benefited from its expansion into Michigan, witnessing over 100 new student enrollments in the summer of 2023. This brings the total enrolled student count to more than 275 by the third quarter. The growth is primarily driven by grassroots efforts, resulting in lower marketing expenses during the first three quarters of 2023.Despite higher costs, inflationary pressure and tepid RU enrollment, APUS and HCN’s revenue increased by 5.2% and 24.2% year over year in the second quarter, respectively. The upside was backed by successful marketing efforts and the execution of enrollment strategies. The company expects the segments revenue growth and year-over-year margin expansion to continue through the end of the year.Cost Control Measures: APEI has undertaken several initiatives to address increasing cost pressure. In August 2023, the company initiated measures to optimize the cost structure of both Rasmussen and the entire APEI enterprise, aiming to better align with the current revenue profile. These efforts are projected to reduce annual operating expenses by $12.4 million, including $2.8 million in pre-tax cash expenses for employee severance costs in third-quarter 2023. Additionally, starting in the third quarter, APEI plans to reduce certain nonlabor costs by approximately $800,000 to $1.1 million annually.The company's Board of Directors is implementing measures to decrease overall governance structure costs, as part of these cost-saving initiatives. These actions includes, maintaining the APEI Board compensation structure for the third consecutive year in 2023 and reducing the size of the Board.Affordable Tuition to Drive Growth: The skill gap and increased cost of higher education have been threatening the nation. Workers are forced to take expensive courses to improve their skills. American Public continued to be a leader in affordability and value. By creating affordable pathways to support employment and career advancement, it aims to help learners of all backgrounds maximize their higher education return on investment.Although in April 2023, the company implemented tuition and fee increases for its nonmilitary and veteran students, it remains lower than the average in-state cost at public universities. This signifies the company's commitment to providing exceptional value and a favorable return on higher education investment for students.Story continues Zacks Investment ResearchImage Source: Zacks Investment ResearchConcernsIn the past three months, shares of APEI have declined 1.7% against the industry’s 16.4% rise. Over the last few quarters, American Public has been experiencing increased costs, ultimately denting profitability. Total costs and expenses (excluding impairment charges) increased by 1.7% year over year in second-quarter 2023. Adjusted EBITDA declined 39.6% year over year. This upside was attributed to the increased employee compensation costs, bad debt expenses, building rent and maintenance costs, along with technology costs, partially offset by a decrease in advertising costs.Also, the tepid performance of its RU segment is affecting the company’s growth prospects. During second-quarter 2023, The RU segment’s revenue declined 18.7% to $52 million from a year ago. RU’s total student enrollment fell 12.6% from the prior-year period’s levels to 13,900 due to a 21.9% decline in nursing and a 2.6% decline in non-nursing enrollment.Key PicksSome better-ranked stocks from the Zacks Consumer Discretionary sector are:Royal Caribbean Cruises Ltd. RCL sports a Zacks Rank #1 (Strong Buy) at present. It has a trailing four-quarter earnings surprise of 28.5%, on average. The stock has surged 128% in the past year. You can see the complete list of today’s Zacks #1 Rank stocks here.The Zacks Consensus Estimate for RCL’s 2023 sales and earnings per share (EPS) suggests growth of 54.5% and 180.3%, respectively, from the year-ago period’s levels.Trip.com Group Limited TCOM currently flaunts a Zacks Rank #1. It has a trailing four-quarter earnings surprise of 147.9%, on average. The stock has gained 50% in the past year.The Zacks Consensus Estimate for Trip.com Group’s 2023 sales and EPS suggests increases of 104.9% and 537.9%, respectively, from the year-ago period’s levels.OneSpaWorld Holdings Limited OSW carries a Zacks Rank #2 (Buy) at present. It has a trailing four-quarter earnings surprise of 42.6%, on average. The stock has gained 30.8% in the past year.  The Zacks Consensus Estimate for OSW’s 2023 sales and EPS indicates growth of 44.5% and 117.9%, respectively, from the year-ago period’s levels.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free reportAmerican Public Education, Inc. (APEI) : Free Stock Analysis ReportRoyal Caribbean Cruises Ltd. (RCL) : Free Stock Analysis ReportOneSpaWorld Holdings Limited (OSW) : Free Stock Analysis ReportTrip.com Group Limited Sponsored ADR (TCOM) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

Here's Why You Should Retain American Public (APEI) Stock Now

https://finance.yahoo.com/news/heres-why-retain-american-public-160600182.html

5b452921-d098-3a7b-a051-de1f88fadc2b

APEI

It has been about a month since the last earnings report for American Public Education (APEI). Shares have lost about 16.1% in that time frame, underperforming the S&P 500.Will the recent negative trend continue leading up to its next earnings release, or is American Public Education due for a breakout? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important catalysts.American Public Q2 Earnings & Revenues Top, Down Y/YAmerican Public reported better-than-expected second-quarter 2023 results with earnings and revenues surpassing the Zacks Consensus Estimate. However, both metrics declined on a year-over-year basis.The company’s results benefited from the solid contributions of the American Public University System (APUS) and Hondros College of Nursing segment (HCN) segments’ as well as Graduate School USA revenues included in Corporate and Other, and cost-saving initiatives.APEI exceeded the adjusted EBITDA guidance of $4.4-$6.4 million by 38%.Delving DeeperThe company reported an adjusted loss of 25 cents per share, narrower than the Zacks Consensus Estimate of a loss of 31 cents per share by 19.4%. In the year-ago quarter, APEI reported an adjusted loss of 6 cents per share.Total revenues of $147.2 million topped the consensus mark of $146.2 million by 0.7% but decreased 1.6% from the year-ago period’s levels. The dismal performance of the Rasmussen University (RU) segment ailed the other segments’ tailwind.  Total costs and expenses (excluding impairment charges) increased 1.7% to $148.5 million year over year, owing to increased employee compensation costs, bad debt expenses, building rent and maintenance costs, along with technology costs, partially offset by a decrease in advertising costs. Excluding impairment charges, costs and expenses were 100.9% of total revenues in the second quarter of 2023, up from 97.6% of revenues reported in the prior-year period.Adjusted EBITDA declined 39.6% year over year to $8.8 million. Adjusted EBITDA margin of 6% contracted 400 bps year over year.Story continuesSegment DiscussionAPUS: Revenues of $73.6 million rose 5.2% from the year-ago period’s levels of $69.9 million. APUS’ total net course registration increased 5.7% from second-quarter 2022 to 88,300. The upside was backed by increases in military registrations from students utilizing TA.RU: The segment reported revenues of $52 million for the quarter, down 18.7% from $63.9 million reported a year ago due to lower nursing enrollment. RU’s total student enrollment fell 12.6% from the prior-year period’s levels to 13,900 due to a 21.9% decline in nursing and a 2.6% decline in non-nursing enrollment.HCN: Segment’s revenues for the quarter rose 24.2% year over year to $14.3 million. Total student enrollment at HCN increased 23% from the prior-year quarter’s levels to 3,000, marking an all-time high. The upside was backed by enrollment growth in recently opened campuses, which include the opening of the Detroit, MI campus in October 2022.FinancialsAt the end of second-quarter 2023, American Public had total cash and cash equivalents of $139.4 million, up from $129.5 million at 2022 end.Q3 GuidanceAPEI expects total revenues to range between -1% and 1% year over year to between $148.3 million and $150.3 million. It anticipates an adjusted loss of 32-24 cents per share, compared with the loss of 20 cents per share reported a year ago. Adjusted EBITDA is expected to be within $8.4-$10.4 million, compared with $9.5 million reported in the prior-year quarter.APUS’ total net course registrations are likely to be between 90,500 and 92,500, reflecting growth of 6-8% year over year. HCN’s total enrollment is expected to increase 17% from the prior year’s tally to 2,800 students. RU’s student enrollment will likely fall 10% from the year-ago quarter’s figure to 13,500. Nursing student enrollment is likely to fall 25% to 5,700 while non-nursing student enrollment is expected to increase 5% to 7,700, year over year.How Have Estimates Been Moving Since Then?It turns out, estimates review flatlined during the past month.VGM ScoresCurrently, American Public Education has a nice Growth Score of B, however its Momentum Score is doing a bit better with an A. Following the exact same course, the stock was allocated a grade of A on the value side, putting it in the top 20% for this investment strategy.Overall, the stock has an aggregate VGM Score of A. If you aren't focused on one strategy, this score is the one you should be interested in.OutlookAmerican Public Education has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.Performance of an Industry PlayerAmerican Public Education is part of the Zacks Schools industry. Over the past month, Strategic Education (STRA), a stock from the same industry, has gained 0.3%. The company reported its results for the quarter ended June 2023 more than a month ago.Strategic Education reported revenues of $287.68 million in the last reported quarter, representing a year-over-year change of +5.2%. EPS of $0.82 for the same period compares with $0.85 a year ago.Strategic Education is expected to post earnings of $0.86 per share for the current quarter, representing a year-over-year change of +160.6%. Over the last 30 days, the Zacks Consensus Estimate has changed +12.3%.Strategic Education has a Zacks Rank #1 (Strong Buy) based on the overall direction and magnitude of estimate revisions. Additionally, the stock has a VGM Score of F.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free reportAmerican Public Education, Inc. (APEI) : Free Stock Analysis ReportStrategic Education Inc. (STRA) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

American Public Education (APEI) Down 16.1% Since Last Earnings Report: Can It Rebound?

https://finance.yahoo.com/news/american-public-education-apei-down-153056446.html

cce0c035-d7ad-3e18-92a1-e30cb3ffefa7

APH

If you're looking for a multi-bagger, there's a few things to keep an eye out for. Amongst other things, we'll want to see two things; firstly, a growing return on capital employed (ROCE) and secondly, an expansion in the company's amount of capital employed. This shows us that it's a compounding machine, able to continually reinvest its earnings back into the business and generate higher returns. Ergo, when we looked at the ROCE trends at Amphenol (NYSE:APH), we liked what we saw.Return On Capital Employed (ROCE): What Is It?For those who don't know, ROCE is a measure of a company's yearly pre-tax profit (its return), relative to the capital employed in the business. The formula for this calculation on Amphenol is:Return on Capital Employed = Earnings Before Interest and Tax (EBIT) ÷ (Total Assets - Current Liabilities)0.21 = US$2.6b ÷ (US$15b - US$2.7b) (Based on the trailing twelve months to June 2023).Thus, Amphenol has an ROCE of 21%. In absolute terms that's a great return and it's even better than the Electronic industry average of 13%. Check out our latest analysis for Amphenol roceAbove you can see how the current ROCE for Amphenol compares to its prior returns on capital, but there's only so much you can tell from the past. If you're interested, you can view the analysts predictions in our free report on analyst forecasts for the company.So How Is Amphenol's ROCE Trending?It's hard not to be impressed by Amphenol's returns on capital. The company has consistently earned 21% for the last five years, and the capital employed within the business has risen 75% in that time. Now considering ROCE is an attractive 21%, this combination is actually pretty appealing because it means the business can consistently put money to work and generate these high returns. If Amphenol can keep this up, we'd be very optimistic about its future.What We Can Learn From Amphenol's ROCEIn the end, the company has proven it can reinvest it's capital at high rates of returns, which you'll remember is a trait of a multi-bagger. Therefore it's no surprise that shareholders have earned a respectable 95% return if they held over the last five years. So even though the stock might be more "expensive" than it was before, we think the strong fundamentals warrant this stock for further research.Story continuesOn the other side of ROCE, we have to consider valuation. That's why we have a FREE intrinsic value estimation on our platform that is definitely worth checking out.If you want to search for more stocks that have been earning high returns, check out this free list of stocks with solid balance sheets that are also earning high returns on equity.Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

Simply Wall St.

Investors Shouldn't Overlook The Favourable Returns On Capital At Amphenol (NYSE:APH)

https://finance.yahoo.com/news/investors-shouldnt-overlook-favourable-returns-110027104.html

a202879c-246e-33bc-8a92-6da808ca026f

APH

Amphenol (NYSE:APH) has had a great run on the share market with its stock up by a significant 12% over the last three months. Given the company's impressive performance, we decided to study its financial indicators more closely as a company's financial health over the long-term usually dictates market outcomes. Particularly, we will be paying attention to Amphenol's ROE today.Return on Equity or ROE is a test of how effectively a company is growing its value and managing investors’ money. Simply put, it is used to assess the profitability of a company in relation to its equity capital. See our latest analysis for Amphenol How To Calculate Return On Equity?ROE can be calculated by using the formula:Return on Equity = Net Profit (from continuing operations) ÷ Shareholders' EquitySo, based on the above formula, the ROE for Amphenol is:25% = US$1.9b ÷ US$7.6b (Based on the trailing twelve months to June 2023).The 'return' is the profit over the last twelve months. Another way to think of that is that for every $1 worth of equity, the company was able to earn $0.25 in profit.What Has ROE Got To Do With Earnings Growth?We have already established that ROE serves as an efficient profit-generating gauge for a company's future earnings. We now need to evaluate how much profit the company reinvests or "retains" for future growth which then gives us an idea about the growth potential of the company. Generally speaking, other things being equal, firms with a high return on equity and profit retention, have a higher growth rate than firms that don’t share these attributes.Amphenol's Earnings Growth And 25% ROEFirst thing first, we like that Amphenol has an impressive ROE. Second, a comparison with the average ROE reported by the industry of 14% also doesn't go unnoticed by us. Probably as a result of this, Amphenol was able to see a decent net income growth of 16% over the last five years.Story continuesWe then performed a comparison between Amphenol's net income growth with the industry, which revealed that the company's growth is similar to the average industry growth of 16% in the same 5-year period.past-earnings-growthEarnings growth is an important metric to consider when valuing a stock. What investors need to determine next is if the expected earnings growth, or the lack of it, is already built into the share price. By doing so, they will have an idea if the stock is headed into clear blue waters or if swampy waters await. If you're wondering about Amphenol's's valuation, check out this gauge of its price-to-earnings ratio, as compared to its industry.Is Amphenol Making Efficient Use Of Its Profits?With a three-year median payout ratio of 25% (implying that the company retains 75% of its profits), it seems that Amphenol is reinvesting efficiently in a way that it sees respectable amount growth in its earnings and pays a dividend that's well covered.Moreover, Amphenol is determined to keep sharing its profits with shareholders which we infer from its long history of paying a dividend for at least ten years. Based on the latest analysts' estimates, we found that the company's future payout ratio over the next three years is expected to hold steady at 29%. As a result, Amphenol's ROE is not expected to change by much either, which we inferred from the analyst estimate of 23% for future ROE.SummaryOverall, we are quite pleased with Amphenol's performance. Particularly, we like that the company is reinvesting heavily into its business, and at a high rate of return. Unsurprisingly, this has led to an impressive earnings growth. Having said that, the company's earnings growth is expected to slow down, as forecasted in the current analyst estimates. Are these analysts expectations based on the broad expectations for the industry, or on the company's fundamentals? Click here to be taken to our analyst's forecasts page for the company.Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

Simply Wall St.

Amphenol Corporation's (NYSE:APH) Stock Is Going Strong: Is the Market Following Fundamentals?

https://finance.yahoo.com/news/amphenol-corporations-nyse-aph-stock-130102248.html

4720468a-d4fb-39b0-a1f6-20afee56489e

APLD

Flexential announces a successful collaboration with Applied Digital, a company specializing in next-gen data centers for the high-performance computing industry.CHARLOTTE, N.C., Aug. 29, 2023 /PRNewswire/ -- Flexential, a leading provider of secure and flexible data center solutions, proudly announces a successful collaboration with Applied Digital (Nasdaq: APLD), a company specializing in next-generation data centers for the high-performance computing (HPC) industry. Through its innovative FlexAnywhere™ Platform, Flexential has enabled Applied Digital to deploy high-density computing resources, including NVIDIA H100 GPUs, in a record time frame to address the rapidly growing demand for AI Based Cloud Service solutions.Through its innovative FlexAnywhere™ Platform, Flexential has enabled Applied Digital to deploy high-density computing resources, including NVIDIA H100 GPUs, in a record time frame to address the rapidly growing demand for AI Based Cloud Service solutions.Applied Digital recently secured a contract with a prominent AI/NLM software company. The impressive agreement highlights the extraordinary demand for Applied Digital's AI cloud services and emphasizes the crucial role played by Flexential's cutting-edge data center solutions in facilitating this expansion."NVIDIA highly recommended Flexential, and as an NVIDIA DGX-Ready Data Center provider, we have confidence in Flexential's ability to support the high-density GPU deployments of today's demanding AI workloads," said Michael Maniscalo, Chief Technology Officer at Applied Digital. "As we head into the future, data centers that are able to support the high-density demands of HPC clusters will offer the perfect foundation to propel AI and ML applications forward."Applied Digital is also partnering with Flexential on a 7.5MW deployment across three markets, with plans to expand in other areas. Part of the deployment is already live, demonstrating the speed and efficiency of the collaboration. The high-density capacity provided by Flexential ensures Applied Digital's AI initiatives can scale efficiently, meeting the unique requirements of its high-compute customers.Patrick Doherty, Chief Revenue Officer of Flexential, expressed his excitement for the partnership, stating, "Flexential is honored to be Applied Digital's trusted infrastructure partner, delivering tailored solutions that empower their rapid growth and innovation in the AI industry."Story continuesBy leveraging Flexential's FlexAnywhere™ Platform, Applied Digital gains a competitive edge, quickly deploying a high-density computing environment, supported by Flexential's advanced interconnection capabilities and endorsed by industry leaders like NVIDIA.About Flexential:Flexential empowers the nation's most complex businesses on their journey to Hybrid IT by offering flexible and tailored solutions comprised of colocation, connectivity, cloud, data protection and professional services. The company builds on a platform of three million square feet of data center space in 19 highly connected markets, and on its 100Gbps private backbone to meet the most stringent challenges in security, compliance, and resiliency. See how Flexential goes beyond the four walls of the data center to empower IT through an interactive map found on www.flexential.com.Flexential is a registered trademark of the Flexential Corp. Follow Flexential on LinkedIn and Twitter.About Applied Digital Applied Digital (Nasdaq: APLD) designs, develops and operates next-generation datacenters across North America to provide digital infrastructure solutions to the rapidly growing high-performance computing (HPC) industry. Find more information at https://applieddigital.com/. Follow us on Twitter at @APLDdigital.Flexential ContactForrest CroninPR & Social Media [email protected] Digital Investor Relations ContactsMatt Glover or Alex Kovtun Gateway Group, Inc. (949) 574-3860 [email protected] Digital Media ContactRobert Collins, Brenlyn MotlaghGateway Group, Inc. (949) 899-3135 [email protected](PRNewsfoto/Flexential)CisionView original content to download multimedia:https://www.prnewswire.com/news-releases/flexential-empowers-applied-digitals-high-performance-computing-solutions-with-flexanywhere-platform-301911733.htmlSOURCE Flexential

PR Newswire

Flexential Empowers Applied Digital's High-Performance Computing Solutions with FlexAnywhere™ Platform

https://finance.yahoo.com/news/flexential-empowers-applied-digitals-high-130000150.html

784534a7-a70c-34dc-88c7-64c6cd251589

APLD

LOS ANGELES / ACCESSWIRE / September 1, 2023 / The Schall Law Firm, a national shareholder rights litigation firm, reminds investors of a class action lawsuit against Applied Digital Corporation ("Applied Digital" or "the Company") (NASDAQ:APLD) for violations of 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission. Investors who purchased the Company's securities between April 13, 2022 and July 26, 2023, inclusive (the "Class Period"), are encouraged to contact the firm before October 11, 2023.If you are a shareholder who suffered a loss, click here to participate.We also encourage you to contact Brian Schall of the Schall Law Firm, 2049 Century Park East, Suite 2460, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at [email protected] class, in this case, has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.According to the Complaint, the Company made false and misleading statements to the market. Applied Digital overstated both the profitability of its datacenters and its ability to shift into the AI cloud services market. The Company's Board of Directors were not independent as required by the NASDAQ listing rules. Based on these facts, the Company's public statements were false and materially misleading throughout the class period. When the market learned the truth about Applied Digital, investors suffered damages.Join the case to recover your losses.The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and rules of ethics.CONTACT:The Schall Law FirmBrian Schall, Esq.www.schallfirm.comOffice: [email protected]: The Schall Law Firm View source version on accesswire.com: https://www.accesswire.com/779285/shareholder-action-alert-the-schall-law-firm-encourages-investors-in-applied-digital-corporation-with-losses-of-100000-to-contact-the-firm

ACCESSWIRE

SHAREHOLDER ACTION ALERT: The Schall Law Firm Encourages Investors in Applied Digital Corporation with Losses of $100,000 to Contact the Firm

https://finance.yahoo.com/news/shareholder-action-alert-schall-law-100000501.html

b902a9b8-5c4d-3586-b89c-f3072e7a2f04

APLT

Just because a business does not make any money, does not mean that the stock will go down. For example, biotech and mining exploration companies often lose money for years before finding success with a new treatment or mineral discovery. But while the successes are well known, investors should not ignore the very many unprofitable companies that simply burn through all their cash and collapse.So should Applied Therapeutics (NASDAQ:APLT) shareholders be worried about its cash burn? For the purpose of this article, we'll define cash burn as the amount of cash the company is spending each year to fund its growth (also called its negative free cash flow). The first step is to compare its cash burn with its cash reserves, to give us its 'cash runway'. Check out our latest analysis for Applied Therapeutics When Might Applied Therapeutics Run Out Of Money?A company's cash runway is calculated by dividing its cash hoard by its cash burn. In June 2023, Applied Therapeutics had US$36m in cash, and was debt-free. Importantly, its cash burn was US$59m over the trailing twelve months. Therefore, from June 2023 it had roughly 7 months of cash runway. To be frank, this kind of short runway puts us on edge, as it indicates the company must reduce its cash burn significantly, or else raise cash imminently. You can see how its cash balance has changed over time in the image below.debt-equity-history-analysisHow Is Applied Therapeutics' Cash Burn Changing Over Time?In our view, Applied Therapeutics doesn't yet produce significant amounts of operating revenue, since it reported just US$11m in the last twelve months. Therefore, for the purposes of this analysis we'll focus on how the cash burn is tracking. As it happens, the company's cash burn reduced by 31% over the last year, which suggests that management are mindful of the possibility of running out of cash. While the past is always worth studying, it is the future that matters most of all. For that reason, it makes a lot of sense to take a look at our analyst forecasts for the company.Story continuesHow Hard Would It Be For Applied Therapeutics To Raise More Cash For Growth?Even though it has reduced its cash burn recently, shareholders should still consider how easy it would be for Applied Therapeutics to raise more cash in the future. Companies can raise capital through either debt or equity. One of the main advantages held by publicly listed companies is that they can sell shares to investors to raise cash and fund growth. We can compare a company's cash burn to its market capitalisation to get a sense for how many new shares a company would have to issue to fund one year's operations.Applied Therapeutics has a market capitalisation of US$91m and burnt through US$59m last year, which is 65% of the company's market value. Given how large that cash burn is, relative to the market value of the entire company, we'd consider it to be a high risk stock, with the real possibility of extreme dilution.So, Should We Worry About Applied Therapeutics' Cash Burn?On this analysis of Applied Therapeutics' cash burn, we think its cash burn reduction was reassuring, while its cash burn relative to its market cap has us a bit worried. After considering the data discussed in this article, we don't have a lot of confidence that its cash burn rate is prudent, as it seems like it might need more cash soon. On another note, Applied Therapeutics has 7 warning signs (and 3 which make us uncomfortable) we think you should know about.Of course Applied Therapeutics may not be the best stock to buy. So you may wish to see this free collection of companies boasting high return on equity, or this list of stocks that insiders are buying.Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

Simply Wall St.

We're A Little Worried About Applied Therapeutics' (NASDAQ:APLT) Cash Burn Rate

https://finance.yahoo.com/news/were-little-worried-applied-therapeutics-114245413.html

6d793886-958a-3c68-baad-3dcb917efc07

APLT

Applied TherapeuticsNEW YORK, Sept. 06, 2023 (GLOBE NEWSWIRE) -- Applied Therapeutics, Inc. (Nasdaq: APLT), a clinical-stage biopharmaceutical company developing a pipeline of novel drug candidates against validated molecular targets in indications of high unmet medical need, today announced successful completion of a recent pre-New Drug Application (“NDA”) meeting with the Food and Drug Administration (FDA) regarding its govorestat (AT-007) Galactosemia program. Based on discussions with the FDA, the Company believes they are aligned with the FDA and plans to submit an NDA for govorestat (AT-007) for the treatment of Galactosemia in the fourth quarter of this year.“In the pre-NDA meeting, the FDA expressed their support for a potential NDA based on the govorestat data generated to date in Galactosemia, and provided constructive recommendations for successful NDA acceptance and review,” said Shoshana Shendelman, PhD, Founder and CEO of Applied Therapeutics. “If approved, govorestat will fill an important unmet need for the Galactosemia community. We will work to prepare our regulatory package as expeditiously as possible and expect to submit the NDA to the FDA in the fourth quarter of this year.”“We thank the FDA for their productive feedback and for their partnership in this process,” said Riccardo Perfetti, MD, PhD, Chief Medical Officer of Applied Therapeutics. “We believe that the clinical efficacy demonstrated to date, combined with galactitol biomarker data and a favorable safety profile, provides us with a solid filing package to the FDA. We are excited to advance towards a regulatory submission for the first potential treatment for Galactosemia.”About GalactosemiaGalactosemia is a rare genetic metabolic disease resulting in an inability to metabolize the simple sugar galactose. Galactose is found in foods, but is also produced endogenously by the body. When not metabolized properly, galactose is converted to the toxic metabolite, galactitol, which causes neurological complications, including deficiencies in speech, cognition, behavior, and motor skills, and also results in juvenile cataracts and ovarian insufficiency (in women). There are approximately 3,000 patients with Galactosemia in the US and 80 new births per year, and approximately 4,000 patients with Galactosemia in the EU and 120 new births per year.Story continuesAbout Govorestat (AT-007)Govorestat is a central nervous system (CNS) penetrant Aldose Reductase inhibitor (ARI) in development for the treatment of several rare neurological diseases, including Galactosemia, SORD Deficiency, and PMM2-CDG.In a study in children with Galactosemia aged 2-17, treatment with AT-007 demonstrated clinical benefit on activities of daily living, behavioral symptoms, cognition, fine motor skills and tremor. Govorestat also significantly reduced plasma galactitol levels in both adults and children with Galactosemia. Galactitol is a toxic metabolite responsible for tissue damage and long-term complications in Galactosemia.Govorestat is also being studied in the ongoing Phase 3 INSPIRE trial, which is evaluating the effect of AT-007 vs. placebo in patients with SORD Deficiency on sorbitol reduction as well as clinical outcomes in approximately 50 patients aged 16-55 in the U.S. and Europe. In an interim analysis, AT-007 reduced sorbitol by a mean of 52%, or approximately 16,000 ng/ml, over a 90-day period, which was highly statistically significant vs. placebo (p<0.001).Govorestat has received Orphan Medicinal Product Designation from the European Medicines Agency (EMA)EMA for both Galactosemia and SORD Deficiency. Govorestat has also received Orphan Drug Designation from the U.S. Food and Drug Administration (FDA) for the treatment of Galactosemia, PMM2-CDG, and SORD Deficiency; Pediatric Rare Disease designation for Galactosemia and PMM2-CDG; and Fast Track designation for Galactosemia.About Applied TherapeuticsApplied Therapeutics is a clinical-stage biopharmaceutical company developing a pipeline of novel drug candidates against validated molecular targets in indications of high unmet medical need. The Company’s lead drug candidate, govorestat, is a novel central nervous system penetrant Aldose Reductase Inhibitor (ARI) for the treatment of CNS rare metabolic diseases, including Galactosemia, SORD Deficiency, and PMM2-CDG. The Company is also developing AT-001, a novel potent ARI, for the treatment of Diabetic Cardiomyopathy, or DbCM, a fatal fibrosis of the heart. The preclinical pipeline also includes AT-003, an ARI designed to cross through the back of the eye when dosed orally, for the treatment of Diabetic retinopathy.To learn more, please visit www.appliedtherapeutics.com and follow the company on Twitter @Applied_Tx.Forward-Looking StatementsThis press release contains “forward-looking statements” that involve substantial risks and uncertainties for purposes of the safe harbor provided by the Private Securities Litigation Reform Act of 1995. Any statements, other than statements of historical fact, included in this press release regarding the strategy, future operations, prospects, plans and objectives of management, including words such as “may,” “will,” “expect,” “anticipate,” “plan,” “intend,” “predicts” and similar expressions (as well as other words or expressions referencing future events, conditions or circumstances) are forward-looking statements. These include, without limitation, statements regarding the (i) timing for the Company’s submission of an NDA for govorestat (AT-007) for the treatment of Galactosemia and (ii) strength of the submission package and likelihood that the NDA submission will be accepted. Forward-looking statements in this release involve substantial risks and uncertainties that could cause actual results to differ materially from those expressed or implied by the forward-looking statements, and we, therefore cannot assure you that our plans, intentions, expectations or strategies will be attained or achieved.Such risks and uncertainties include, without limitation, (i) our plans to develop, market and commercialize our product candidates, (ii) the initiation, timing, progress and results of our current and future preclinical studies and clinical trials and our research and development programs, (iii) our ability to take advantage of expedited regulatory pathways for any of our product candidates, (iv) our estimates regarding expenses, future revenue, capital requirements and needs for additional financing, (v) our ability to successfully acquire or license additional product candidates on reasonable terms and advance product candidates into, and successfully complete, clinical studies, (vi) our ability to maintain and establish collaborations or obtain additional funding, (vii) our ability to obtain and timing of regulatory approval of our current and future product candidates, (viii) the anticipated indications for our product candidates, if approved, (ix) our expectations regarding the potential market size and the rate and degree of market acceptance of such product candidates, (x) our ability to fund our working capital requirements and expectations regarding the sufficiency of our capital resources, (xi) the implementation of our business model and strategic plans for our business and product candidates, (xii) our intellectual property position and the duration of our patent rights, (xiii) developments or disputes concerning our intellectual property or other proprietary rights, (xiv) our expectations regarding government and third-party payor coverage and reimbursement, (xv) our ability to compete in the markets we serve, (xvi) the impact of government laws and regulations and liabilities thereunder, (xvii) developments relating to our competitors and our industry, (xvii) our ability to achieve the anticipated benefits from the agreements entered into in connection with our partnership with Advanz Pharma and (xiv) other factors that may impact our financial results. In light of the significant uncertainties in these forward-looking statements, you should not rely upon forward-looking statements as predictions of future events. Although we believe that we have a reasonable basis for each forward-looking statement contained in this press release, we cannot guarantee that the future results, levels of activity, performance or events and circumstances reflected in the forward-looking statements will be achieved or occur at all. Factors that may cause actual results to differ from those expressed or implied in the forward-looking statements in this press release are discussed in our filings with the U.S. Securities and Exchange Commission, including the “Risk Factors” contained therein. Except as otherwise required by law, we disclaim any intention or obligation to update or revise any forward-looking statements, which speak only as of the date they were made, whether as a result of new information, future events or circumstances or otherwise.ContactsInvestors:Maeve Conneighton (212) 600-1902 [email protected]:[email protected]

GlobeNewswire

Applied Therapeutics Announces Successful Pre-NDA Meeting with the FDA and Confirms Plans to Submit NDA for Govorestat (AT-007) for Treatment of Classic Galactosemia to FDA in Q4 2023

https://finance.yahoo.com/news/applied-therapeutics-announces-successful-pre-110000912.html

5e15217c-3fa8-384e-a13a-283b7358ba14

APPF

MercadoLibre upgraded, PagerDuty downgraded: Wall Street's top analyst callsThe most talked about and market moving research calls around Wall Street are now in one place. Here are today's research calls that investors need to know, as compiled by The Fly.Top 5 Upgrades: New Street upgraded MercadoLibre (MELI) to Buy from Neutral with a price target of $1,650, up from $1,400. The analyst says the company remains a "uniquely well positioned asset" across e-commerce. MercadoLibre's market share gains in Brazil, its core market, have been material in the last 12 months and there is more to come with domestic players struggling to compete, the analyst tells investors in a research note. The firm says talk of Chinese vendor competition is likely overdone.DA Davidson upgraded AppFolio (APPF) to Buy from Neutral with a price target of $230, up from $155. The firm transitioned coverage to a new analyst with the upgrade. AppFolio holds a competitive advantage in the user-friendliness of its software and has multiple growth drivers from both expansion among existing clients and market penetration, the analyst tells investors in a research note.Citi upgraded Aramark (ARMK) to Buy from Neutral with a price target of $47, up from $45. With the stock down 6% in the last month, Aramark's valuation is attractive and the upcoming Uniforms spinoff event is a potentially positive catalyst, the analyst tells investors in a research note. Although execution risk remains in the context of the Uniforms separation and the "impressive rate" of new contract growth acting as a near-term margin drag, offsetting this is that the inflationary environment seems on the cusp of inflecting into favorable territory for Aramark, contends Citi.Guggenheim upgraded Eos Energy (EOSE) to Buy from Neutral with a $10 price target following yesterday's news that the Department of Energy has provided a $400M conditional loan commitment to the company. The "long-awaited" announcement marks the end of a lengthy technical and due diligence process and the loan guarantee should underpin an expansion to 8GWh in annual production capacity by mid-2026, the analyst tells investors. The firm's price target reflects its updated revenue and EBITDA outlook for 2025, arguing that the conditional commitment is significant as it signals that Eos has passed the LPO's due diligence process.Wedbush upgraded Papa John's (PZZA) to Outperform from Neutral with a price target of $95, up from $80. The firm's checks point to North America same-store sales growth trending above consensus in Q3 and beyond the quarter the firm views Papa's forward domestic same-store sales growth expectations as "realistic," the analyst tells investors. The margin trajectory could deliver operating margins ahead of current expectations and the firm is "not overly concerned" about Papa's medium- to longer-term unit growth trajectory, the analyst added.Story continuesTop 5 Downgrades: Telsey Advisory downgraded Dollar General (DG) to Market Perform from Outperform with a price target of $145, down from $185. The analyst is "disappointed" by the Q2 results, which the firm says reflected soft sales, poor execution, and ongoing investments. Telsey cites Dollar General's softer comp and profit outlook for the second half of 2023, which it believes is likely to continue into 2024, for the downgrade. Meanwhile, Loop Capital also downgraded Dollar General to Hold from Buy with a price target of $140, down from $200. The company "continued a troubling recent trend" in Q2 with the company's second "miss and lower" print of fiscal 2023, the analyst tells investors in a research note. In addition, Evercore ISI downgraded Dollar General to In Line from Outperform with a price target of $150, down from $185, and Raymond James downgraded Dollar General to Outperform from Strong Buy with a price target of $160, down from $200, following the Q2 report.Argus downgraded British American Tobacco (BTI) to Hold from Buy with no price target. While the management expects global tobacco volume to be down 2% in 2024, the stock has outperformed relative to the broader index and the Consumer Staples ETF (IYK) over the past three months, the analyst tells investors in a research note. The firm adds that it would consider returning British American Tobacco to the Buy list on signs of stronger sustained earnings growth from new categories.Baird downgraded PagerDuty (PD) to Neutral from Outperform with a price target of $25, down from $32. The company reported mixed Q2 results, with a revenue and earnings beat while billings were below guidance, the analyst tells investors in a research note. The revenue beat was not passed though and Q3 billings were guided weaker, says the firm. Baird cites the company's slower implied second half of fiscal 2024 growth and tougher first half of fiscal 2025 compares likely limiting upside for the downgrade.B. Riley downgraded Hersha Hospitality Trust (HT) to Neutral from Buy with a price target of $10, up from $9, after the company agreed to be acquired and taken private by KSL Partners for $10 per share in cash.Northland downgraded Allot Ltd. (ALLT) to Market Perform from Outperform with a price target of $3, down from $8. Despite an in-line topline report for Q2, Allot is lowering the midpoint calendar 2023 revenue guidance and the second half guidance indicates that DPI's "cash cow status has become questionable," the analyst tells investors. Verizon (VZ) SMB uptake as a catalyst to SECaaS ARR acceleration "remains possible," but looks "highly uncertain," the analyst added.Top 5 Initiations:Canaccord initiated coverage of Confluent (CFLT) with a Buy rating and $40 price target. In a rapidly growing, highly fragmented data streaming landscape, Confluent "stands out" with its Apache Kafka, a "ubiquitous open-source event streaming technology," the analyst tells investors. The vast majority of data streams in Confluent Cloud are linked downstream to some form of application code processing or reacting to that stream of data and the opportunity in stream processing with Flink "could be as large" as the core market, the analyst added.Needham initiated coverage of Veeco (VECO) with a Buy rating and $35 price target. The company's turnaround efforts are succeeding and the long-term growth driven by the adoption of Veeco's unique technologies such as laser anneal, ion beam deposition and advanced packaging lithography is transforming the company, the analyst tells investors in a research note. Investors should take a "fresh look" at Veeco shares as the company will look very different as its strategic turnaround progresses, the firm added.Raymond James initiated coverage of Ferguson (FERG) with an Outperform rating and $175 price target. Ferguson is a well positioned industrial distributor, with leading market positioning and scale advantages across "fragmented, complementary, and growing industries," the analyst tells investors in a research note. The firm believes the company's out-year growth will be supported by secular tailwinds and consistent demonstrated market outgrowth.Loop Capital initiated coverage of Builders FirstSource (BLDR) with a Buy rating and $180 price target. The company has a number of catalysts that support a "sustainable valuation re-rating moving forward," the analyst tells investors in a research note. Builders FirstSource' recent improvement in single-family housing starts will be a meaningful demand tailwind into 2024 and more than offset any moderation in multi-family construction next year, says the firm.BTIG initiated coverage of P3 Health Partners (PIII) with a Buy rating and $5 price target. P3 is a value-based-care organization that focuses exclusively on the Medicare Advantage space, the analyst tells investors in a research note. The firm believes the company is better positioned than some others because expectations for EBITDA are low and the P3 was already EBITDA-positive in Q2. In addition, since the company focuses exclusively on Medicare, and not Medicaid, its margin potential is much higher than some peers, contends BTIG.

The Fly

MercadoLibre upgraded, PagerDuty downgraded: Wall Street's top analyst calls

https://finance.yahoo.com/news/mercadolibre-upgraded-pagerduty-downgraded-wall-140007004.html

cdf16459-d0d9-3767-8be8-cfcf473e3bdd

APPF

A sudden shift in profitability has put AppFolio, a real estate software firm, on investors' radar. AppFolio stock has shot up 83% in 2023.Continue reading

Investor's Business Daily

How AppFolio's New Chief Shook Up The Real Estate Software Market

https://finance.yahoo.com/m/8f36534d-63e4-327f-85b1-c7634b160101/how-appfolio-s-new-chief.html

8f36534d-63e4-327f-85b1-c7634b160101

APPS

While many financial advisors will direct you to established public enterprises, investors seeking some “oomph” for their portfolio may want to target “unmatched” stocks with potential. Rather than walking along the beaten path, these lesser-known entities carry significantly higher risk. At the same time, if circumstances align just right, you could enjoy massive upside.To be clear, you shouldn’t dedicate more funds than you can afford to lose in speculative market ventures. True, I’m pitching these ideas as the most promising stocks to buy. However, there’s no such thing as a free lunch, especially on Wall Street. Chances are, if you’re going to extract robust returns, you must accept robust risks. It’s just the way that it works in this part of town.If that’s not your thing, we can always talk about blue chips (probably next week). However, if you want to swing for the fences, try these enticing stocks with potential.InvestorPlace - Stock Market News, Stock Advice & Trading TipsStocks with Potential: AMN Healthcare Services (AMN)AMN Healthcare Services website homepage. AMN Healthcare logo visible.Source: Casimiro PT / Shutterstock.comAn innovative staffing and workforce solutions provider, AMN Healthcare Services (NYSE:AMN) specifically targets the namesake industry. While circumstances haven’t panned out so well this year – with shares dipping more than 16% since the Jan. opener – for patient investors, AMN could be one of the worthwhile stocks with potential.According to data compiled by Statista, the healthcare sector’s revenue will reach about $16.81 billion this year. Further, experts project sales to expand at a compound annual growth rate (CAGR) of 12.71%, leading to a print of $27.13 billion by 2027.Financially, AMN Healthcare enjoys an impressive three-year revenue growth rate (per-share basis) of 35.8%, beating out 86.74% of its peers. Nevertheless, AMN trades at only 0.84X trailing-year sales, favorably lower than 66.92% of rivals.Finally, analysts peg AMN as a moderate buy with an average price target of $106.67, implying over 20% upside potential. Plus, the high-side price target is $120, implying over 35% growth.Story continuesMarineMax (HZO)Side view of a MarineMax (HZO) boat on the water with trees in backgroundSource: shutterstock.com/Harry PowellHeadquartered in Clearwater, Florida, MarineMax (NYSE:HZO) specializes in the sale of boats and yachts. In addition, the company provides first-rate boat repair and services. At first glance, the idea of HZO as one of the stocks with potential seems a bit out there. After all, the headlines are screaming about how consumers are hurting under stubborn inflation. Tellingly, HZO only gained less than 7% since the Jan. opener.While not discounting the pain in the middle class, the reality is that folks who buy boats are wealthy. And while it’s a contested narrative, it seems at least one institutional trader is willing to jump aboard the contrarian trade. Specifically, on July 26, the volume for sold puts (which carry a neutral-to-bullish implication) came out to 1,300 contracts against an open interest reading of 1,551.That’s a big block order likely placed by institutional traders. Operationally, MarineMax prints a three-year revenue growth rate of 24%. Even with this impressive tally, HZO trades at a lowly sales multiple of 0.31x, below the sector median of 0.67x.Lastly, analysts peg shares as a moderate buy with a $44.75 price target, implying 34% upside.Stocks with Potential: JOYY (YY)Logos for social media apps displayed on an iPhone screen.Source: mama_mia / Shutterstock.comAn oddity among stocks with potential, I’m willing to give JOYY (NASDAQ:YY) a chance. You’d have to be into speculating, though. Based in Singapore, JOYY bills itself as a leading global social media platform. It enables users to interact with each other in real-time through online live media. Since the start of the year, YY slipped about 8%. That’s not encouraging, although YY could make some noise.Primarily, the broader narrative for JOYY centers on Southeast Asia’s Internet economy, which stood at $194 billion last year. While projections may be hazy due to current events, near the end of 2021, experts projected this economy to hit $1 trillion by 2030. Again, the timeline may be off now. However, the underlying market remains robust.On the operational scale, JOYY prints an impressive three-year revenue growth rate of 36%. Even with this performance, YY trades at only 1.07x trailing revenue. That’s well below the sector median of 2.1x. To close, YY carries a moderate buy consensus view with a $47.50 price target, implying nearly 47% upside potential.Digital Turbine (APPS)The Digital Turbine (APPS Stock) sign at the company's Austin headquarters.Source: JHVEPhoto / Shutterstock.comAn intriguing, but risky idea among stocks with potential, Digital Turbine (NASDAQ:APPS) is a leading independent growth and monetization platform. Per its website, it’s changing the mobile advertising landscape to create a framework that levels the playing field for advertisers, publishers, operators, and original equipment manufacturers (OEMs). Though a relevant service, APPS fell nearly 40% since the Jan. opener.Nevertheless, for those seeking the most promising stocks to buy, APPS may belong on your radar, especially if you gamble. Right now, institutional traders are selling call options on APPS, which carry a bearish sentiment. However, traders under a multi-sweep transaction have also recently sold puts. These contracts have a strike price of $10, indicating an anticipation that APPS will soon recover. It’s currently priced at $9.03.Also, it’s worth pointing out that Digital Turbine prints a three-year revenue growth rate of 61.6%. Nevertheless, it trades at a lowly revenue multiple of 1.49x. Turning to Wall Street, analysts peg APPS as a moderate buy with a $13.33 price target, implying nearly 48% upside.Stocks with Potential: Valneva (VALN)A bunch of glass vials of SARS-CoV-2 vaccines. Vaccine stocksSource: ShutterstockA French biotechnology firm, Valneva (NASDAQ:VALN) develops and commercializes vaccines for infectious diseases, per its public profile. Obviously, with the COVID-19 crisis and the horrific damage that it imposed, Valneva plies its trade in a relevant industry. Unfortunately for current stakeholders, the market doesn’t see the opportunity. Since the beginning of this year, VALN has been down about 1% below parity.Still, VALN could be one of the most promising stocks to buy for speculators. Even with the drop in COVID-19 vaccine sales since the 2022 peak, the broader infectious disease market may still expand by 5.7% through 2029, per Fierce Pharma.Financially, Valneva prints a three-year revenue growth rate of 31.5%, well above the sector median stat of 6.5%. Even with this robust performance, the market prices VALN at a sales multiple of only 1.95x. In contrast, the sector median price-to-sales ratio stands at 9.05x. Lastly, H.C. Wainwright’s Edward White pegs VALN a buy with a $22 price target, implying over 62% upside potential.DLH Holdings (DLHC)A close-up shot of fingers over a keyboard with blue and white text overlaid.Source: ShutterstockHailing from Atlanta, Georgia, DLH Holdings (NASDAQ:DLHC) presents a high-risk, high-reward opportunity among the most promising stocks to buy. According to its website, DLH solves health and national security challenges through digital transformation, science, and development. As well, it meets its directive through systems engineering. Overall, DLH focuses on facilitating national security readiness solutions for federal programs.Although addressing a critical need, the market has been slow in accepting DLHC. Since the start of the year, shares slipped almost 2%. In the trailing one-year period, they fell a bit more than 35%. However, it could be one of the stocks with potential given the importance of its readiness protocol. We’ve already seen how a lack of preparedness can impact social and economic stability.On a financial note, DLH prints a revenue and EBITDA growth rate of 31.3% and 41.9%, respectively, over the past three years. Nevertheless, shares trade at a revenue multiple of 0.48x, below the sector median of 1.07x. In closing, Noble Financial’s Joe Gomes pegs DLHC a buy with a $21 price target, implying over 88% upside.Ebix (EBIX)A man examines a digital screen with different icons for software.Source: ShutterstockHeadquartered in Johns Creek, Georgia, Ebix (NASDAQ:EBIX) presents a tempting but dangerous idea for the most promising stocks to buy. Don’t get me wrong: Should this leading international supplier of on-demand software and e-commerce services to the insurance, financial, and healthcare industries fire on all cylinders, its equity shares can skyrocket. However, so far, it’s been doing the exact opposite of skyrocketing.Since the start of the year, EBIX fell more than 23%. At least some of the negativity centers on bearish action among institutional traders. In the most recent sessions, the alpha dogs have been selling calls, which carry pessimistic undertones. However, on Aug. 14, traders under heavy volume via multi-sweep transactions began selling puts with a strike price of $12.50.While the bears could win out, it’s also possible that the bulls may be targeting Ebix’s strong three-year revenue growth rate of 21.6%. As well, EBIX trades at a lowly trailing-year earnings multiple of 13.77x.On a final note, Craig-Hallum’s Jeff Van Rhee pegged EBIX a buy with a $50 price target, implying over 236% upside.On the date of publication, Josh Enomoto did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.A former senior business analyst for Sony Electronics, Josh Enomoto has helped broker major contracts with Fortune Global 500 companies. Over the past several years, he has delivered unique, critical insights for the investment markets, as well as various other industries including legal, construction management, and healthcare.More From InvestorPlaceMusk’s “Project Omega” May Be Set to Mint New Millionaires. Here’s How to Get In.ChatGPT IPO Could Shock the World, Make This Move Before the AnnouncementIt doesn’t matter if you have $500 or $5 million. Do this now.The post 7 Unmatched Stocks: The Untapped Goldmines to Buy Now. appeared first on InvestorPlace.

InvestorPlace

7 Unmatched Stocks: The Untapped Goldmines to Buy Now.

https://finance.yahoo.com/news/7-unmatched-stocks-untapped-goldmines-235630294.html

9086babf-403a-36db-b195-d59faf043e91

APPS

The relationship will empower app developers to advance opportunities on Google Cloud and accelerate Digital Turbine's scalability AUSTIN, Texas and LOS ANGELES , Aug. 28, 2023 /PRNewswire/ -- Digital Turbine, Google Cloud, and SADA today announced that they have expanded and extended their partnership for strategic services and solutions on Google Cloud. Another step in the multi-year partnership, the renewal will accelerate Digital Turbine's pace of innovation and scale even further.Under the renewed contract, the parties will continue to collaborate on several key initiatives, including:Leverage Google Cloud's advancements in Data, AI, and ML to further elevate Digital Turbine's capabilities and platforms - improving the customer and end-user experience.Modernize Digital Turbine's existing platforms, reduce operational complexity, and optimize processes.The next steps of the partnership further solidify Digital Turbine's product and growth strategy for the Android and Google Cloud ecosystem. Digital Turbine has recently announced that its SingleTap solution is now available on Google Cloud Marketplace, giving Google Cloud customers a simplified solution to reach more users by enabling frictionless app installs from any mobile ad placement. Digital Turbine expects new expanded revenue channels as they continue to deepen their sales partnership with Google Cloud and SADA and leverage Google Cloud's ecosystem of independent software vendors.As part of this commitment, Digital Turbine will be able to leverage a strong base of partners to expand market opportunities."There is ample opportunity to transform developer workflows with cloud services," said Jim Anderson, Vice President, NA Partners Ecosystem & Channels at Google Cloud. "Google Cloud's infrastructure is enabling Digital Turbine via its collaboration with SADA, to focus on strategic services and solutions that will strengthen mobile technologies for customers and end-users."Story continues"SADA is proud to be Digital Turbine's trusted advisor and partner on their cloud transformation journey. We've worked collaboratively with their teams to help take their business to the next level while exceeding their business goals. We're thrilled to continue on this journey as we push the boundaries of innovation beyond what's possible and leverage Google Cloud's ecosystem to continue our mutual success," said Miles Ward, Chief Technology Officer at SADA."Google Cloud and SADA have been key partners in our ongoing mission to elevate the mobile ecosystem with new technologies and experiences," said Senthil Kumaran, Chief Technology Officer at Digital Turbine. "I am confident that our collaboration will help elevate capabilities that will enable Android app developers to reach more users - and continue to grow."SADA and Digital Turbine have a successful track record of working together since the company turned to the award-winning Google Cloud partner for support with its platform migration. Collaborating closely with SADA and Google Cloud since 2021, Digital Turbine has successfully streamlined the cooperation and integration of three acquired companies, scaling its business and introducing new and innovative products.Want to learn more about the innovation and success driven by this partnership? Don't miss SADA's and Digital Turbine's CTOs at Google Cloud Next! The companies are leading a spotlight session [SPTL101] at Google Cloud Next on Wednesday, Aug. 30, at 3:30 p.m.About Digital TurbineDigital Turbine (NASDAQ: APPS) powers superior mobile consumer experiences and results for the world's leading telcos, advertisers, and publishers. Its end-to-end platform uniquely simplifies their partners' ability to supercharge awareness, acquisition, and monetization — connecting them with more consumers, in more ways, across more devices. Digital Turbine is headquartered in North America, with offices around the world. https://www.digitalturbine.comAbout SADASADA is a market leader in professional services and an award-winning solutions provider of Google Cloud. Since 2000, SADA has been committed to helping customers in healthcare, media, entertainment, retail, manufacturing, and the public sector solve their most complex challenges so they can focus on achieving their boldest ambitions. With offices in North America, India, and Armenia providing sales and customer support teams, SADA is positioned to meet customers where they are in their digital transformation journey. SADA is a 5x Google Cloud Partner of the Year award winner with 10 Google Cloud Specializations and a proven track record of offering customers best-in-class service. SADA is a 15x honoree of the Inc. 5000 list of America's Fastest-Growing Private Companies and has been named to Inc. Magazine's Best Workplaces four years in a row. Learn more at www.sada.com.ContactsSADAKim VelascoSourceCode [email protected] TurbineDaniel [email protected] Turbine Expands Partnership with Google Cloud and SADA to Further Innovation - empowering app developers to advance opportunities on Google Cloud and accelerating Digital Turbine’s scalabilityNew logo (PRNewsfoto/Digital Turbine, Inc.)CisionView original content to download multimedia:https://www.prnewswire.com/news-releases/digital-turbine-expands-partnership-with-google-cloud-and-sada-to-further-innovation-301911456.htmlSOURCE Digital Turbine, Inc.

PR Newswire

Digital Turbine Expands Partnership with Google Cloud and SADA to Further Innovation

https://finance.yahoo.com/news/digital-turbine-expands-partnership-google-173000006.html

626a4e87-49d9-3602-a968-c1725238599b

APTV

Taking full advantage of the stock market and investing with confidence are common goals for new and old investors alike.Achieving those goals is made easier with the Zacks Style Scores, a unique set of guidelines that rates stocks based on popular investing methodologies, namely value, growth, and momentum. The Style Scores can help you narrow down which stocks are better for your portfolio and which ones can beat the market over the long-term.Why Investors Should Pay Attention to This Value StockDifferent than growth or momentum investors, value-focused investors are all about finding good stocks at good prices, and discovering which companies are trading under what their true value is before the broader market catches on. The Value Style Score utilizes ratios like P/E, PEG, Price/Sales, and Price/Cash Flow to help pick out the most attractive and discounted stocks.Aptiv PLC (APTV)Aptiv PLC is one of the leading global technology and mobility company which mainly serves the automotive sector. It is a designer and manufacturer of vehicle components as well as provider of electrical, electronic and safety technology solutions to the global automotive market. The company delivers end-to-end smart mobility solutions, active safety and autonomous driving technologies and provides enhanced user experience and connected services.APTV sits at a Zacks Rank #2 (Buy), holds a Value Style Score of B, and has a VGM Score of A. Compared to the Technology Services industry's P/E of 24.2X, shares of Aptiv PLC are trading at a forward P/E of 22X. APTV also has a PEG Ratio of 1.2, a Price/Cash Flow ratio of 16.3X, and a Price/Sales ratio of 1.5X.A company's earnings performance is important for value investors as well. For fiscal 2023, nine analysts revised their earnings estimate higher in the last 60 days for APTV, while the Zacks Consensus Estimate has increased $0.44 to $4.74 per share. APTV also holds an average earnings surprise of 13.4%.Story continuesAPTV should be on investors' short lists because of its impressive earnings and valuation fundamentals, a good Zacks Rank, and strong Value and VGM Style Scores.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free reportAptiv PLC (APTV) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

Why Aptiv PLC (APTV) is a Top Value Stock for the Long-Term

https://finance.yahoo.com/news/why-aptiv-plc-aptv-top-134007661.html

878cff0d-1a48-3dd8-bbc2-2b865a2db779

APTV

Aptiv PLC APTV shares have performed impressively over the past three months. The stock returned 13.2%, which compared favorably with the 3.8% rally of the industry it belongs to and the 5.8% rise of the Zacks S&P 500 composite.The Zacks Consensus Estimate for the company’s 2023 earnings of $4.74 indicates growth of 39% from that reported a year ago. Moreover, earnings are expected to register 28.9% growth in 2024. APTV has a long-term expected earnings per share growth rate of 18.2%.Aptiv PLC Price Aptiv PLC price | Aptiv PLC QuoteFactors That Augur WellAptiv is exposed to the lucrative connected cars market. With security becoming a key selling point for connected cars, automakers are increasingly seeking related technologies. This is one of the reasons behind the quick advancement of the driver-assistance system market. Demand for personalization, infotainment connectivity and convenience are increasing rapidly. Added features require more wiring inside vehicles.We believe that with excellent system integration expertise, Aptiv is well-positioned to leverage the growing electrification, connectivity and autonomy trends in the automotive sector.The company’s "smart architecture" provides a competitive advantage and should help it continue gaining market share. Decreasing environmental impact and increasing fuel economy are the key industry trends, and OEMs have increased their search for better engine management and lower power consumption. Aptiv intends to take advantage of this trend as its “smart architecture” reduces wiring requirements in cars, helping them become fuel-efficient and add features.The 2022 acquisition of Wind River expanded Aptiv’s position in the automotive software solutions market. Another 2022 acquisition, Intercable Automotive Solutions, strengthened the company’s position as a global leader in vehicle architecture systems. Aptiv intends to continue making investments aimed at organic and inorganic growth. Since it acquires a large number of companies on an ongoing basis, the integration of these companies generates cost synergies, which improve the efficiency of the combined company.Story continuesA RiskAptiv’s current ratio (a measure of liquidity) was at 1.76 at the end of second-quarter 2023, lower than the 2.63 recorded at the end of the prior-year quarter. A decreasing current ratio indicates that the company may have difficulty meeting its short-term obligations.Zacks Rank and Stocks to ConsiderAptiv currently carries a Zacks Rank #3 (Hold).Here are two better-ranked stocks from the Business Services sector:DocuSign DOCU beat the Zacks Consensus Estimate in the four trailing quarters and has an earnings surprise of 25.6%. The consensus estimate for 2023 earnings is pegged at $2.52 per share, indicating 24.1% year-over-year growth. The consensus mark for 2023 revenues indicates an 8.1% increase from the year-ago reported figure. DOCU currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.CRA International CRAI beat the Zacks Consensus Estimate in two of the four trailing quarters and missed on two instances, the average earnings surprise being 5.1%. The Zacks Consensus Estimate for 2023 revenues indicates a 6.6% increase from the year-ago reported figure. The consensus mark for earnings is pegged at $5.49 per share, indicating a 7.6% year-over-year decline. CRAI carries a Zacks Rank #2 (Buy) at present.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free reportCharles River Associates (CRAI) : Free Stock Analysis ReportAptiv PLC (APTV) : Free Stock Analysis ReportDocuSign (DOCU) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

Here's Why You Should Hold Aptiv (APTV) Stock in Your Portfolio

https://finance.yahoo.com/news/heres-why-hold-aptiv-aptv-145600687.html

533eb1d5-e367-3ddd-acae-838b9c7f175a

AQST

Key InsightsSignificant control over Aquestive Therapeutics by individual investors implies that the general public has more power to influence management and governance-related decisionsThe top 25 shareholders own 33% of the company Institutions own 25% of Aquestive TherapeuticsEvery investor in Aquestive Therapeutics, Inc. (NASDAQ:AQST) should be aware of the most powerful shareholder groups. With 60% stake, individual investors possess the maximum shares in the company. In other words, the group stands to gain the most (or lose the most) from their investment into the company.Following a 11% decrease in the stock price last week, individual investors suffered the most losses, but institutions who own 25% stock also took a hit.Let's delve deeper into each type of owner of Aquestive Therapeutics, beginning with the chart below. See our latest analysis for Aquestive Therapeutics ownership-breakdownWhat Does The Institutional Ownership Tell Us About Aquestive Therapeutics?Many institutions measure their performance against an index that approximates the local market. So they usually pay more attention to companies that are included in major indices.We can see that Aquestive Therapeutics does have institutional investors; and they hold a good portion of the company's stock. This suggests some credibility amongst professional investors. But we can't rely on that fact alone since institutions make bad investments sometimes, just like everyone does. If multiple institutions change their view on a stock at the same time, you could see the share price drop fast. It's therefore worth looking at Aquestive Therapeutics' earnings history below. Of course, the future is what really matters.earnings-and-revenue-growthAquestive Therapeutics is not owned by hedge funds. Our data shows that Bratton Capital Management, L.P. is the largest shareholder with 18% of shares outstanding. Meanwhile, the second and third largest shareholders, hold 2.3% and 1.8%, of the shares outstanding, respectively. Additionally, the company's CEO Daniel Barber directly holds 1.1% of the total shares outstanding.Story continuesA deeper look at our ownership data shows that the top 25 shareholders collectively hold less than half of the register, suggesting a large group of small holders where no single shareholder has a majority.Researching institutional ownership is a good way to gauge and filter a stock's expected performance. The same can be achieved by studying analyst sentiments. Quite a few analysts cover the stock, so you could look into forecast growth quite easily.Insider Ownership Of Aquestive TherapeuticsThe definition of an insider can differ slightly between different countries, but members of the board of directors always count. The company management answer to the board and the latter should represent the interests of shareholders. Notably, sometimes top-level managers are on the board themselves.I generally consider insider ownership to be a good thing. However, on some occasions it makes it more difficult for other shareholders to hold the board accountable for decisions.Shareholders would probably be interested to learn that insiders own shares in Aquestive Therapeutics, Inc.. In their own names, insiders own US$7.5m worth of stock in the US$120m company. It is good to see some investment by insiders, but we usually like to see higher insider holdings. It might be worth checking if those insiders have been buying. General Public OwnershipThe general public, mostly comprising of individual investors, collectively holds 60% of Aquestive Therapeutics shares. This level of ownership gives investors from the wider public some power to sway key policy decisions such as board composition, executive compensation, and the dividend payout ratio.Next Steps:I find it very interesting to look at who exactly owns a company. But to truly gain insight, we need to consider other information, too. Take risks for example - Aquestive Therapeutics has 5 warning signs (and 2 which can't be ignored) we think you should know about.If you would prefer discover what analysts are predicting in terms of future growth, do not miss this free report on analyst forecasts.NB: Figures in this article are calculated using data from the last twelve months, which refer to the 12-month period ending on the last date of the month the financial statement is dated. This may not be consistent with full year annual report figures.Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

Simply Wall St.

Aquestive Therapeutics, Inc.'s (NASDAQ:AQST) 11% loss last week hit both individual investors who own 60% as well as institutions

https://finance.yahoo.com/news/aquestive-therapeutics-inc-nasdaq-aqst-110842201.html

cc7ae110-fc52-3688-b443-c415a42e0d5e

AQST

Aquestive Therapeutics, Inc.WARREN, N.J., Aug. 23, 2023 (GLOBE NEWSWIRE) -- Aquestive Therapeutics, Inc. (NASDAQ: AQST) (the “Company” or “Aquestive”), a pharmaceutical company advancing medicines to solve patients’ problems with current standards of care and provide transformative products to improve their lives, announced today that the management team will participate in two upcoming investor conferences in New York, NY as follows:  H.C. Wainwright 25th Annual Global Investment Conference: presentation at 3:30 pm ET on Monday, September 11th and available to host investor meetingsLake Street Best Ideas Growth Conference BIG7: available to host investor meetings on Thursday, September 14thA webcast of the presentation at the H.C. Wainwright 25th Annual Global Investment Conference will be available on the "Events and Presentation" page of the Investors section of the Company's website. A replay of the webcast will be available for 30 days following the event. For more information, please visit investors.aquestive.com.About AquestiveAquestive is a pharmaceutical company advancing medicines to solve patients’ problems with current standards of care and provide transformative products to improve their lives. We are developing orally administered products to deliver complex molecules, providing novel alternatives to invasive and inconvenient standard of care therapies. Aquestive has five commercialized products marketed by its licensees in the U.S. and around the world, and is the exclusive manufacturer of these licensed products. The Company also collaborates with pharmaceutical companies to bring new molecules to market using proprietary, best-in-class technologies, like PharmFilm®, and has proven drug development and commercialization capabilities. Aquestive is advancing a late-stage proprietary product pipeline focused on treating diseases of the central nervous system and an earlier stage pipeline for the treatment of severe allergic reactions, including anaphylaxis. For more information, visit Aquestive.com and follow us on LinkedIn.Story continuesForward-Looking StatementCertain statements in this press release include “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as “believe,” “anticipate,” “plan,” “expect,” “estimate,” “intend,” “may,” “will,” or the negative of those terms, and similar expressions, are intended to identify forward-looking statements. These forward-looking statements are based on the Company’s current expectations and beliefs and are subject to a number of risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. Such risks and uncertainties include, but are not limited to, risks associated with the Company’s development work, including any delays or changes to the timing, cost and success of the Company’s product development activities and clinical trials, and other risks and uncertainties affecting the Company described in the “Risk Factors” section and in other sections included in its Annual Report on Form 10-K, in its Quarterly Reports on Form 10-Q, and in its Current Reports on Form 8-K filed with the Securities and Exchange Commission. Given those uncertainties, you should not place undue reliance on these forward-looking statements, which speak only as of the date made. All subsequent forward-looking statements attributable to the Company or any person acting on its behalf are expressly qualified in their entirety by this cautionary statement. The Company assumes no obligation to update forward-looking statements or outlook or guidance after the date of this press release whether as a result of new information, future events or otherwise, except as may be required by applicable law.PharmFilm® and the Aquestive logo are registered trademarks of Aquestive Therapeutics, Inc.Investor Inquiries:ICR Westwicke Stephanie [email protected]

GlobeNewswire

Aquestive Therapeutics to Participate in Two Upcoming Investor Conferences

https://finance.yahoo.com/news/aquestive-therapeutics-participate-two-upcoming-120000011.html

83ad67a8-ae02-3660-a23a-ecff240c724c

AR

Antero Resources' (NYSE:AR) stock is up by a considerable 22% over the past three months. Given that the market rewards strong financials in the long-term, we wonder if that is the case in this instance. Specifically, we decided to study Antero Resources' ROE in this article.Return on equity or ROE is an important factor to be considered by a shareholder because it tells them how effectively their capital is being reinvested. Simply put, it is used to assess the profitability of a company in relation to its equity capital. See our latest analysis for Antero Resources How To Calculate Return On Equity?ROE can be calculated by using the formula:Return on Equity = Net Profit (from continuing operations) ÷ Shareholders' EquitySo, based on the above formula, the ROE for Antero Resources is:22% = US$1.6b ÷ US$7.1b (Based on the trailing twelve months to June 2023).The 'return' is the yearly profit. That means that for every $1 worth of shareholders' equity, the company generated $0.22 in profit.Why Is ROE Important For Earnings Growth?We have already established that ROE serves as an efficient profit-generating gauge for a company's future earnings. We now need to evaluate how much profit the company reinvests or "retains" for future growth which then gives us an idea about the growth potential of the company. Assuming everything else remains unchanged, the higher the ROE and profit retention, the higher the growth rate of a company compared to companies that don't necessarily bear these characteristics.Antero Resources' Earnings Growth And 22% ROETo begin with, Antero Resources has a pretty high ROE which is interesting. Additionally, a comparison with the average industry ROE of 28% also portrays the company's ROE in a good light. As a result, Antero Resources' remarkable 33% net income growth seen over the past 5 years is likely aided by its high ROE.As a next step, we compared Antero Resources' net income growth with the industry and found that the company has a similar growth figure when compared with the industry average growth rate of 28% in the same period.Story continuespast-earnings-growthThe basis for attaching value to a company is, to a great extent, tied to its earnings growth. The investor should try to establish if the expected growth or decline in earnings, whichever the case may be, is priced in. By doing so, they will have an idea if the stock is headed into clear blue waters or if swampy waters await. Is Antero Resources fairly valued compared to other companies? These 3 valuation measures might help you decide.Is Antero Resources Using Its Retained Earnings Effectively?Antero Resources doesn't pay any dividend to its shareholders, meaning that the company has been reinvesting all of its profits into the business. This is likely what's driving the high earnings growth number discussed above.ConclusionIn total, we are pretty happy with Antero Resources' performance. Specifically, we like that the company is reinvesting a huge chunk of its profits at a high rate of return. This of course has caused the company to see substantial growth in its earnings. That being so, a study of the latest analyst forecasts show that the company is expected to see a slowdown in its future earnings growth. To know more about the company's future earnings growth forecasts take a look at this free report on analyst forecasts for the company to find out more.Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

Simply Wall St.

Is Antero Resources Corporation's (NYSE:AR) Stock's Recent Performance Being Led By Its Attractive Financial Prospects?

https://finance.yahoo.com/news/antero-resources-corporations-nyse-ar-120141354.html

b56df4ff-0a90-3d52-8e5b-0d88a4ec052c

AR

Antero Resources Corporation AR has witnessed upward earnings estimate revisions for 2023 and 2024 in the past 30 days.The company, with a Zacks Rank #3 (Hold), has gained 25.1% over the past three months compared with 15.6% growth of the composite stocks belonging to the industry.Zacks Investment ResearchImage Source: Zacks Investment ResearchFactors Working in FavorNatural gas is trading at more than $2.61 per MMBtu, highlighting a handsome commodity pricing environment. Being a leading natural gas producer, Antero Resources is well-positioned to capitalize on the favorable commodity price.Antero Resources’ strategic acreage position in the low-risk/long reserve-life properties of the Appalachian Basin is a major positive. Its core acreage position allows for significant long-lateral drilling opportunities and capital efficiencies. The company boasts that in the prolific basin, it has more than two decades of premium low-cost drilling inventory, representing a solid production outlook.Looking at financial strength, Antero Resources has a strong and sustainable balance sheet. Compared to composite stocks of the industry, the company has significantly lower debt exposure, as reflected in the lower debt-to-capitalization ratio over the past few years.AR is targeting a capital return program of 25-50% of free cash flow per year, beginning with the implementation of share repurchase program. Since the inception of the buyback plan in the first quarter of 2022, the company has repurchased 31.1 million shares for roughly $1 billion. The company currently has $1 billion of remaining capacity under the buyback program.Demand for natural gas is expected to surpass supply growth over the next two years, driven by significant LNG export growth. AR is well-positioned to benefit from its leading firm transportation portfolio, which delivers the majority of its gas to the growing LNG demand markets. Also, the firm emits lower greenhouse gases than other major fossil fuel players.Story continuesThus, Antero Resources, the fast-growing natural gas producer in the United States, is poised for an upside in the coming days.Risks Responsible to Limit GrowthAs an upstream energy firm, Antero Resources is highly exposed to volatility in commodity prices. Also, the company’s lack of geographic diversification adds to the concern since its entire asset base is located in the Appalachian region.Key PicksSome better-ranked players in the energy sector are USA Compression Partners, LP USAC, Enerplus Corporation ERF and Eni SpA E. Each of these companies currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.USA Compression Partners is one of the largest independent natural gas compression services providers across the United States in terms of fleet horsepower.USA Compression Partners has witnessed upward earnings estimate revisions for 2023 and 2024 in the past 30 days. The consensus estimate for USAC’s 2023 and 2024 earnings per share is pegged at 30 cents and 58 cents, respectively.Enerplus Corporation is an independent oil and gas production company with resources across Western Canada and the United States.Enerplus Corporation has witnessed upward earnings estimate revisions for 2023 and 2024 in the past 30 days. The consensus estimate for ERF’s 2023 and 2024 earnings per share is pegged at $2.26 and $2.66, respectively.Eni SpA, based in Rome, Italy, is among the leading integrated energy players in the world.The company announced a share buyback plan of €2.2 billion for the year, which commenced in May. It intends to return 25-30% of annual cash flow to shareholders.Eni has witnessed upward earnings estimate revision for 2023 and 2024 in the past 30 days. The consensus estimate for E’s 2023 and 2024 earnings per share is pegged at $5.19 and $4.99, respectively.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free reportEni SpA (E) : Free Stock Analysis ReportEnerplus Corporation (ERF) : Free Stock Analysis ReportUSA Compression Partners, LP (USAC) : Free Stock Analysis ReportAntero Resources Corporation (AR) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

Why Hold Strategy is Apt for Antero Resources (AR) Stock Now

https://finance.yahoo.com/news/why-hold-strategy-apt-antero-171400738.html

6c03ac1c-bef7-3955-a6e8-ceb8e632397d

ARCT

SAN DIEGO, August 17, 2023--(BUSINESS WIRE)--Arcturus Therapeutics Holdings Inc. (the "Company", "Arcturus", Nasdaq: ARCT), a global late-stage clinical messenger RNA medicines company focused on the development of infectious disease vaccines and opportunities within liver and respiratory rare diseases, today announced that the Company will participate in the following investor conferences:Citi’s 18th Annual BioPharma Conference 2023 (Hosting 1x1 meetings)Wednesday, September 6 – 7, 20232023 Wells Fargo Health Conference (Fireside Chat)Thursday, September 7, 2023 (1:30 p.m. ET)H.C. Wainwright 25th Annual Global Investment Conference 2023 (Presentation)Monday, September 11, 2023 (8:30 a.m. ET)Baird Global Healthcare Conference 2023 (Presentation)Tuesday, September 12, 2023 (3:10 p.m. ET)2023 Cantor Fitzgerald Global Healthcare Conference (Fireside Chat)Tuesday - Thursday, September 26 – 28, 2023Chardan’s 7th Annual Genetic Medicines Conference 2023 (Hosting 1X1 meetings)Monday - Tuesday, October 2 – 3, 2023Webcast links can be found under Investor Relations/Events section of Arcturus’ website.About Arcturus TherapeuticsFounded in 2013 and based in San Diego, California, Arcturus Therapeutics Holdings Inc. (Nasdaq: ARCT) is a global late-stage clinical mRNA medicines and vaccines company with enabling technologies: (i) LUNAR® lipid-mediated delivery, (ii) STARR® mRNA Technology (samRNA) and (iii) mRNA drug substance along with drug product manufacturing expertise. The Company has ongoing collaborations with CSL Seqirus and Meiji Seika Pharma, and a joint venture with ARCALIS. Arcturus’ pipeline includes RNA therapeutic candidates to potentially treat ornithine transcarbamylase deficiency and cystic fibrosis, along with its partnered mRNA vaccine programs for SARS-CoV-2 (COVID-19) and influenza. Arcturus’ versatile RNA therapeutics platforms can be applied toward multiple types of nucleic acid medicines including messenger RNA, small interfering RNA, circular RNA, antisense RNA, self-amplifying RNA, DNA, and gene editing therapeutics. Arcturus’ technologies are covered by its extensive patent portfolio (patents and patent applications issued in the U.S., Europe, Japan, China, and other countries). For more information, visit www.ArcturusRx.com. In addition, please connect with us on Twitter and LinkedIn.Story continuesView source version on businesswire.com: https://www.businesswire.com/news/home/20230817580897/en/ContactsIR and Media Contacts Arcturus TherapeuticsNeda SafarzadehVP, Head of IR/PR/Marketing(858) [email protected] Investor RelationsCarlo Tanzi, Ph.D.(617) [email protected]

Business Wire

Arcturus Therapeutics to Attend Upcoming Investor Conferences

https://finance.yahoo.com/news/arcturus-therapeutics-attend-upcoming-investor-123000070.html

5f63d4cd-dc72-3f03-af98-2f4132570654

ARCT

EMA application supported by Phase 3 primary vaccination study demonstrating primary efficacy endpoint was metAn additional Phase 3 booster study demonstrating non-inferiority of immune response compared to Comirnaty® and superiority of ARCT-154 in neutralizing antibody response against SARS-CoV-2 Omicron BA.4/5 variant was shown as a key secondary endpointSAN DIEGO, September 05, 2023--(BUSINESS WIRE)--Arcturus Therapeutics Holdings Inc. (the "Company", "Arcturus", Nasdaq: ARCT), a global late-stage clinical messenger RNA medicines company focused on the development of infectious disease vaccines and opportunities within liver and respiratory rare diseases, and CSL (ASX:CSL), and its vaccine business, CSL Seqirus, one of the largest influenza vaccine providers in the world, announced today that the European Medicines Agency (EMA) has validated the marketing authorization application (MAA) for ARCT-154, a next generation mRNA vaccine, for active immunization to prevent COVID-19 caused by SARS-CoV-2 in individuals 18 years of age and older. The companies (Arcturus and CSL Seqirus) anticipate an approval decision by the European Commission in 2024.This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230905857902/en/The EMA submission is based on successful Phase 3 clinical results of ARCT-154 against the ancestral D614G variant as a primary series and booster. In an analysis of 6-month data from the pivotal Phase 3 study, the primary efficacy endpoint was met and ARCT-154 as a primary series resulted in 56.6% efficacy for prevention of symptomatic COVID-19 overall, and 95.3% efficacy for prevention of severe COVID-19 including COVID-19 related deaths. The study was conducted when Delta variant was dominant in Vietnam. The booster data result was previously announced by CSL Seqirus’ partner, Meiji Seika Pharma, indicating that the primary endpoint was achieved in a Phase 3 booster vaccine study by demonstrating non-inferiority of immune response against SARS-CoV-2 ancestral strain compared to Comirnaty®. Superiority of ARCT-154 in neutralizing antibody response against SARS-CoV-2 Omicron BA.4/5 variant was a key secondary endpoint.Story continues"EMA acceptance of the marketing application for ARCT-154 represents another major achievement in the development of this innovative mRNA vaccine platform. This is also an important milestone for Arcturus and our global exclusive partner, CSL Seqirus, as we work towards achieving approval in Europe," said Joseph Payne, President & CEO of Arcturus Therapeutics. "ARCT-154 is expected to be efficiently updated as new variants of concern arise and has the potential to be a longer lasting vaccine against the pervasive and ever-changing COVID virus.""This pivotal regulatory milestone brings CSL one step closer to bringing innovative mRNA vaccines to Europe," said Emmanuelle Lecomte Brisset, Head of Global Regulatory Affairs at CSL. "We look forward to working with regulatory authorities to continue to advance how we protect public health."About Arcturus TherapeuticsFounded in 2013 and based in San Diego, California, Arcturus Therapeutics Holdings Inc. (Nasdaq: ARCT) is a global late-stage clinical mRNA medicines and vaccines company with enabling technologies: (i) LUNAR® lipid-mediated delivery, (ii) STARR® mRNA Technology (samRNA) and (iii) mRNA drug substance along with drug product manufacturing expertise. The Company has an ongoing exclusive global collaborative partnership for innovative mRNA vaccines with CSL Seqirus. The Company also has a joint venture with the Japanese CMO, ARCALIS. Arcturus’ pipeline includes RNA therapeutic candidates to potentially treat ornithine transcarbamylase deficiency and cystic fibrosis, along with its partnered innovative mRNA vaccine programs for SARS-CoV-2 (COVID-19), influenza, pandemic preparedness and a range of other respiratory pathogens. Arcturus’ versatile RNA therapeutics platforms can be applied toward multiple types of nucleic acid medicines including messenger RNA, small interfering RNA, circular RNA, antisense RNA, self-amplifying RNA, DNA, and gene editing therapeutics. Arcturus’ technologies are covered by its extensive patent portfolio (patents and patent applications issued in the U.S., Europe, Japan, China, and other countries). For more information, visit www.ArcturusRx.com. In addition, please connect with us on Twitter and LinkedIn.About CSLCSL (ASX:CSL) (USOTC:CSLLY) is a global biotechnology company with a dynamic portfolio of lifesaving medicines, including those that treat haemophilia and immune deficiencies, vaccines to prevent influenza, and therapies in iron deficiency and nephrology. Since our start in 1916, we have been driven by our promise to save lives using the latest technologies. Today, CSL – including our three businesses: CSL Behring, CSL Seqirus and CSL Vifor – provides lifesaving products to patients in more than 100 countries and employs 32,000 people. Our unique combination of commercial strength, R&D focus and operational excellence enables us to identify, develop and deliver innovations so our patients can live life to the fullest. For inspiring stories about the promise of biotechnology, visit CSLBehring.com/Vita and follow us on Twitter.com/CSL.For more information about CSL, visit www.CSL.com.Forward Looking StatementsThis press release contains forward-looking statements that involve substantial risks and uncertainties for purposes of the safe harbor provided by the Private Securities Litigation Reform Act of 1995. Any statements, other than statements of historical fact included in this press release, are forward-looking statements, including those regarding strategy, future operations, the likelihood of success of ARCT-154 and the partnered COVID-19 program, the timing for an approval decision by the European Commission for ARCT-154, the likelihood that any clinical data will be predictive of future clinical results, the likelihood that the interim study results of the ARCT-154 Phase 3 booster vaccine study will be predictive of, or consistent with, the complete study results, the potential for ARCT-154 to be a longer lasting vaccine, and the impact of general business and economic conditions. Arcturus may not actually achieve the plans, carry out the intentions or meet the expectations or projections disclosed in any forward-looking statements such as the foregoing and you should not place undue reliance on such forward-looking statements. These statements are only current predictions or expectations, and are subject to known and unknown risks, uncertainties, and other factors that may cause our or our industry’s actual results, levels of activity, performance or achievements to be materially different from those anticipated by the forward-looking statements, including those discussed under the heading "Risk Factors" in Arcturus’ most recent Annual Report on Form 10-K, and in subsequent filings with, or submissions to, the SEC, which are available on the SEC’s website at www.sec.gov. Except as otherwise required by law, Arcturus disclaims any intention or obligation to update or revise any forward-looking statements, which speak only as of the date they were made, whether as a result of new information, future events or circumstances or otherwise.Trademark AcknowledgementsThe Arcturus logo and other trademarks of Arcturus appearing in this announcement, including LUNAR® and STARR®, are the property of Arcturus. All other trademarks, services marks, and trade names in this announcement are the property of their respective owners.View source version on businesswire.com: https://www.businesswire.com/news/home/20230905857902/en/ContactsArcturus Therapeutics IR and Media Contacts Neda SafarzadehVP, Head of IR/PR/Marketing(858) [email protected] Investor RelationsCarlo Tanzi, Ph.D.(617) [email protected] Media Contacts U.S.Sue ThornMobile: 617 799 3151Email: [email protected]:Kim O'DonohueMobile: 0449 884 603Email: [email protected]

Business Wire

Arcturus Therapeutics and CSL Announce European Medicines Agency Validates Marketing Authorization Application for ARCT-154 Vaccine to Prevent COVID-19

https://finance.yahoo.com/news/arcturus-therapeutics-csl-announce-european-123000271.html

e8385d92-c77a-3993-a4e2-99af22e397cd

ARDX

Ardelyx, Inc.WALTHAM, Mass., Sept. 07, 2023 (GLOBE NEWSWIRE) -- Ardelyx, Inc. (Nasdaq: ARDX), a biopharmaceutical company founded with a mission to discover, develop and commercialize innovative, first-in-class medicines that meet significant unmet medical needs, today announced that on September 6, 2023, the compensation committee of the company’s board of directors granted two new non-executive employees options to purchase an aggregate of 65,828 shares of the company’s common stock, and granted three new non-executive employees an aggregate of 39,550 Restricted Stock Units (RSUs). Each stock option has an exercise price per share equal to $4.73 per share, which was the closing trading price of the company’s common stock on the date of grant. The stock options and RSUs were granted as inducements material to each employee’s decision to enter into employment with Ardelyx, in accordance with Nasdaq Listing Rule 5635(c)(4).Each stock option vests over four years, with 25% of the shares vesting on the first anniversary of the employee’s first date of employment, and the remaining 75% of shares vesting monthly thereafter. Each RSU vests over four years, with 25% vesting on the first company designated quarterly RSU vest date following the first anniversary of the employee’s first day of employment and the remaining 75% of shares vesting quarterly thereafter. Each stock option has a 10-year term and each option and RSU is subject to the terms and conditions of the company’s 2016 Employment Commencement Incentive Plan and the award agreement covering the grant.About Ardelyx, Inc.Ardelyx was founded with a mission to discover, develop and commercialize innovative, first-in-class medicines that meet significant unmet medical needs. Ardelyx’s first approved product, IBSRELA® (tenapanor) is available in the United States and Canada. Ardelyx is developing XPHOZAH® (tenapanor), a novel product candidate to control serum phosphorus in adult patients with chronic kidney disease (CKD) on dialysis who have had an inadequate response or intolerance to phosphate binder therapy, which has completed three successful Phase 3 trials and an additional two Phase 4 open label trials. Ardelyx has a Phase 2 potassium lowering compound, RDX013, for the potential treatment of elevated serum potassium, or hyperkalemia, a problem among certain patients with kidney and/or heart disease and an early-stage program in metabolic acidosis, a serious electrolyte disorder in patients with CKD. Ardelyx has established agreements with Kyowa Kirin in Japan, Fosun Pharma in China and Knight Therapeutics in Canada for the development and commercialization of tenapanor in their respective territories. For more information, please visit https://ardelyx.com/ and connect with us on X (formerly Twitter), LinkedIn and Facebook.Story continuesInvestor and Media Contacts:Caitlin [email protected] [email protected]: Ardelyx, Inc.

GlobeNewswire

Ardelyx, Inc. Reports Employment Inducement Grants

https://finance.yahoo.com/news/ardelyx-inc-reports-employment-inducement-120000207.html

64f6789d-70e3-3091-ab19-df0fada0187e

ARDX

Ardelyx, Inc.WALTHAM, Mass., Sept. 08, 2023 (GLOBE NEWSWIRE) -- Ardelyx, Inc. (Nasdaq: ARDX), a biopharmaceutical company founded with a mission to discover, develop and commercialize innovative, first-in-class medicines that meet significant unmet medical needs, today announced that Mike Raab, president and chief executive officer of Ardelyx, will present at the H.C. Wainwright 25th Annual Global Investment Conference on Monday, September 11, 2023, at 12:00 p.m. ET in New York City.To access the live webcast of Ardelyx's presentation please visit the Events & Presentations page within the Investor section of the Ardelyx website at ir.ardelyx.com. A replay of the webcast will be available on the Ardelyx website for 30 days following the event.About Ardelyx, Inc.Ardelyx was founded with a mission to discover, develop and commercialize innovative, first-in-class medicines that meet significant unmet medical needs. Ardelyx’s first approved product, IBSRELA® (tenapanor) is available in the United States and Canada. Ardelyx is developing XPHOZAH® (tenapanor), a novel product candidate for the control of serum phosphorus in adult patients with chronic kidney disease (CKD) on dialysis who have had an inadequate response or intolerance to phosphate binder therapy, which has completed three successful Phase 3 trials and an additional two Phase 4 open label trials. Ardelyx has a Phase 2 potassium lowering compound, RDX013, for the potential treatment of elevated serum potassium, or hyperkalemia, a problem among certain patients with kidney and/or heart disease and an early-stage program in metabolic acidosis, a serious electrolyte disorder in patients with CKD. Ardelyx has established agreements with Kyowa Kirin in Japan, Fosun Pharma in China and Knight Therapeutics in Canada for the development and commercialization of tenapanor in their respective territories.For more information, please visit https://ardelyx.com/ and connect with us on X (Formerly Twitter), LinkedIn and Facebook.Story continuesInvestor and Media Contacts: Caitlin [email protected] Keshtbod [email protected]

GlobeNewswire

Ardelyx to Present at the H.C. Wainwright 25th Annual Global Investment Conference

https://finance.yahoo.com/news/ardelyx-present-h-c-wainwright-120000442.html

5b3438a7-f382-3ae9-8c05-a35e58849abe

ARE

One of the most out-of-favor sectors over the past couple of years has been the office real estate investment trust (REIT) space. Vacancy rates have climbed ever since the pandemic started, and in some cities, the vacancy rates are unofficially close to 50%. Kilroy Realty (NYSE: KRC) is one of the top office REITs, with a 5.9% dividend yield.Continue reading

Motley Fool

Here's How Kilroy Realty Can Afford Its 5.9% Dividend Yield

https://finance.yahoo.com/m/cd7afac7-b650-3480-bb3a-932b35e49b57/here-s-how-kilroy-realty-can.html

cd7afac7-b650-3480-bb3a-932b35e49b57

ARE

PASADENA, Calif., Sept. 5, 2023 /PRNewswire/ -- Alexandria Real Estate Equities, Inc. (NYSE: ARE) today announced that its Board of Directors declared a quarterly cash dividend of $1.24 per common share for the third quarter of 2023. The dividend is payable on October 13, 2023 to shareholders of record on September 29, 2023. The common stock dividend for the 12 months ending September 30, 2023 of $4.90 per common share represents an increase of 24 cents, or 5 percent, over the 12 months ended September 30, 2022.(PRNewsfoto/Alexandria Real Estate Equities, Inc.)The dividend allows the company to share its continued high-quality, strong and increasing net cash provided by operating activities with its common shareholders while retaining a significant portion for reinvestment into its highly leased pipeline of new Class A/A+ development and redevelopment projects. For the five-year period ending December 31, 2023, the company expects to generate for reinvestment an aggregate $1.7 billion of net cash provided by operating activities after dividends.1 Additionally, its funds from operations (FFO) payout ratio (quarterly common stock dividends divided by quarterly funds from operations) remains favorably low at 55 percent for the three months ended June 30, 2023. Growth in the company's net cash provided by operating activities continues to generate opportunities to increase the company's quarterly cash dividend per common share while maintaining a low FFO payout ratio.1 Net cash provided by operating activities after dividends (i) excludes timing differences such as changes in operating assets and liabilities, and (ii) includes deductions for distributions to the company's consolidated real estate joint venture partners.About Alexandria Real Estate Equities, Inc.Alexandria Real Estate Equities, Inc. (NYSE: ARE), an S&P 500® company, is a best-in-class, mission-driven life science REIT making a positive and lasting impact on the world. As the pioneer of the life science real estate niche since our founding in 1994, Alexandria is the preeminent and longest-tenured owner, operator and developer of collaborative life science, agtech and advanced technology campuses in AAA innovation cluster locations, including Greater Boston, the San Francisco Bay Area, New York City, San Diego, Seattle, Maryland and Research Triangle. For more information, please visit www.are.com.Story continuesThis press release includes "forward-looking statements" within the meaning of the federal securities laws. Actual results might differ materially from those projected in the forward-looking statements. Additional information concerning factors that could cause actual results to differ materially from those in the forward-looking statements is contained in the company's Annual Report on Form 10-K and other periodic reports filed with the Securities and Exchange Commission.CONTACT: Sara Kabakoff, Senior Vice President – Chief Content Officer, (626) 788-5578, [email protected] original content to download multimedia:https://www.prnewswire.com/news-releases/alexandria-real-estate-equities-inc-declares-cash-dividend-of-1-24-per-common-share-for-3q23--for-an-aggregate-of-4-90-per-common-share-for-the-12-months-ending-september-30--2023--an-increase-of-24-cents-or-5-percent-over-t-301916534.htmlSOURCE Alexandria Real Estate Equities, Inc.

PR Newswire

Alexandria Real Estate Equities, Inc. Declares Cash Dividend of $1.24 per Common Share for 3Q23, for an Aggregate of $4.90 per Common Share for the 12 Months Ending September 30, 2023, an Increase of 24 Cents, or 5 Percent, Over the 12 Months Ended September 30, 2022

https://finance.yahoo.com/news/alexandria-real-estate-equities-inc-123000533.html

da811171-1551-3631-b2ba-738cf6992dd4

AREC

Well-established leader in the battery sector brings significant industry, operational and commercial expertiseFormer CEO of Battery Innovation Center (BIC) of Indiana where he successfully led it from a stalled rural engagement facility to a globally known innovation and incubation center of record impact, revenue, and recognitionFISHERS, IN / ACCESSWIRE / August 21, 2023 / American Resources Corporation's (NASDAQ:AREC) ("American Resources" or the "Company") ReElement Technologies LLC ("ReElement"), a leading provider of high performance refining capacity of rare earth and battery elements, announced today it has expanded its executive team with the appointment of Ben Wrightsman as President of ReElement. Mr. Wrightsman will work alongside the executive team to expand the business geographically through the deployment of its next-generation refining capacity, commercial partnerships, as well as product offerings within both North America and international markets."Adding Ben to the team is a testament to the technology we possess and the groundbreaking results we have generated over the past 24 months," said Mark Jensen, CEO of ReElement Technologies. "Ben brings excellence in operational growth, establishing product differentiation and has been making an impact from day one."Mr. Wrightsman most recently served as CEO of the Battery Innovation Center where he focused on serving the commercial Industry, Department of Defense, Department of Energy, and global research institutes to rapidly develop, test, advise, and commercialize the next generation of safe, reliable, lightweight, and cost-effective energy storage systems. His more than 23-year career in the battery / electronics industry has spanned companies such as Energy Systems Network, EnerDel, Eclipse Energy and Diversified System. With ReElement, he will be leading the operational team and reporting directly to the CEO.Story continuesMr. Wrightsman, added, "It is a privilege to work alongside with and lead the amazing team at ReElement. The State of Indiana and the United States was once the center of the critical technology supply chain. Our goal is to reestablish world-leading innovation and operational scale to create a resilient domestic supply chain capable of supporting the advanced energy transition. Additionally, we want to ensure a collaborative global impact through our technologies and building key industry partnerships."With its initial commercial battery production train at its first Noblesville, Indiana facility, ReElement has the refining capacity to process approximately 137,500 kilograms per year of battery materials to produce ultra-high pure battery minerals or compounds. The Company is in the design and engineering phase to implement its second and larger scale battery production line in Marion, Indiana which will have an initial, annual refining capacity of approximately 13,750,000 kilograms per year with the ability to efficiently expand on a modular basis thereafter. As previously announced, this is in addition to its initial commercial production train that is used to recycle end-of-life permanent magnets for the separation and purification of their inherent rare earth elements. The Company continues to scale its first rare earth and critical element recycling facility in Noblesville, Indiana which is being developed as a modularly-scalable, commercial facility and is also currently evaluating additional sites for both standalone and co-located facilities.ReElement's advanced chromatography refining methods are unique in that it's an efficient continuous, closed-loop, column-based, modular system that is able to operate at multiple stages and recover high value components from a variety of feedstocks. Typically, the Company's process first isolates pure lithium while also isolating and recovering supplemental products such as the inherent iron phosphate from LFP-type batteries, and manganese, cobalt and nickel, from NMC-type batteries, with minimal increase in costs. Additionally, chromatography produces minimal waste making it environmentally benign and much easier to permit relative to conventional refining methods.American Resources continues to focus on running efficient streamlined operations in being a new-aged supplier of raw materials to the infrastructure and electrification marketplace in the most sustainable of ways, while also helping the world achieve its goals of carbon neutrality. By operating with low or no legacy costs and having one of the largest and most innovative growth pipelines in the industry, American Resources Corporation works to maximize value for its investors by positioning its large asset base to best fit a new-aged economy, while being able to scale its operations to meet the growth of the markets it serves.About ReElement Technologies LLCReElement Technologies LLC is redefining how critical and rare earth elements are both sourced and processed while focusing on the recycling of end-of-life products such as rare earth permanent magnets and lithium-ion batteries, as well as coal-based waste streams and byproducts to create a low-cost and environmentally-safe, circular supply chain. ReElement Technologies has developed its innovative and scalable "Capture-Process-Purify" process chain in conjunction with its licensed intellectual property including 16 patents and technologies and sponsored research partnerships with three leading universities to support the domestic supply chain's growing demand for magnet and battery metals. For more information visit reelementtech.com or connect with the Company on Facebook, Twitter, and LinkedIn.About American Resources CorporationAmerican Resources Corporation (NASDAQ:AREC) is a next-generation, environmentally and socially responsible supplier of high-quality raw materials to the new infrastructure market. The Company is focused on the extraction and processing of metallurgical carbon, an essential ingredient used in steelmaking, critical and rare earth minerals for the electrification market, and reprocessed metal to be recycled. American Resources has a growing portfolio of operations located in the Central Appalachian basin of eastern Kentucky and southern West Virginia where premium quality metallurgical carbon and rare earth mineral deposits are concentrated.American Resources has established a nimble, low-cost business model centered on growth, which provides a significant opportunity to scale its portfolio of assets to meet the growing global infrastructure and electrification markets while also continuing to acquire operations and significantly reduce their legacy industry risks. Its streamlined and efficient operations are able to maximize margins while reducing costs. For more information visit americanresourcescorp.com or connect with the Company on Facebook, Twitter, and LinkedIn.Special Note Regarding Forward-Looking StatementsThis press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve known and unknown risks, uncertainties, and other important factors that could cause the Company's actual results, performance, or achievements or industry results to differ materially from any future results, performance, or achievements expressed or implied by these forward-looking statements. These statements are subject to a number of risks and uncertainties, many of which are beyond American Resources Corporation's control. The words "believes", "may", "will", "should", "would", "could", "continue", "seeks", "anticipates", "plans", "expects", "intends", "estimates", or similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. Any forward-looking statements included in this press release are made only as of the date of this release. The Company does not undertake any obligation to update or supplement any forward-looking statements to reflect subsequent events or circumstances. The Company cannot assure you that the projected results or events will be achieved.Investor Contact:JTC Team, LLCJenene [email protected] Companies Inc.Todd McKnight1-800-RED-CHIP (733-2447)[email protected] Contact:Mark LaVerghettaVice President of Corporate Finance and Communications317-855-9926 ext. [email protected]: American Resources CorporationView source version on accesswire.com: https://www.accesswire.com/775516/American-Resources-Corporations-ReElement-Technologies-Expands-Executive-Team-with-Appointment-of-Ben-Wrightsman-as-President

ACCESSWIRE

American Resources Corporation’s ReElement Technologies Expands Executive Team with Appointment of Ben Wrightsman as President

https://finance.yahoo.com/news/american-resources-corporation-reelement-technologies-123000651.html

b24cf0ae-8ee1-3fa0-9a56-0cb5752940dd

AREC

Well-established visionary leader in capital markets and strategyFormer Chief Strategy Officer of USA Rare Earth where he successfully led capital raising efforts, organizational growth and market penetrationFISHERS, IN / ACCESSWIRE / September 6, 2023 / American Resources Corporation (NASDAQ:AREC) ("American Resources" or the "Company") a leading provider of next generation infrastructure inputs, announced today that its Board of Directors has appointed Josh Hawes as an independent director. Mr. Hawes brings over 20 years of experience in the areas of capital market construction, organizational and product strategy and driving shareholder returns. Mr. Hawes will replace Michael Layman as an independent director of the board of directors as well as a member of the Board's Audit Committee effective immediately. Mr. Layman will continue to advise the Company as a member of its Advisory Board.Mark Jensen, Chairman and CEO of American Resources commented, "Adding Josh to the Board of Directors is a testament to the platform and organization that has been built and the number of opportunities which lie ahead. Josh brings excellence in revenue growth, establishing new markets domestically and internationally and organizational structure and governance. His vision of the demand for critical minerals and American Resources' capabilities to further expand into the sector are lockstep to the vision of the existing team. Furthermore, I couldn't be more thankful to have been able to serve with Michael Layman and the efforts and knowledge he has brought to the Company over his years of service on the Board. I am also excited that Michael will continue to advise the Company and support our growth."Mr. Hawes most recently served as Chief Strategy Officer of USA Rare Earth from 2021 to 2023 and Chief of Staff from 2020 and 2021 where he oversaw an exceptional ten-fold increase in the company's value and spearheaded the creation of the Magnet Manufacturing Tax Credit, while leading their magnet manufacturing transition team in Stillwater, Oklahoma. Furthermore, Mr. Hawes built the first ex-China, North American magnet supply chain network through strategic partnerships and collaboration, allowing for the future capture of hundreds of millions in revenue.Story continuesMr. Hawes has over 15-years of leadership experience with specific focus on commodities, buy-side and sell-side investment sectors of the financial industry, and advanced technologies. Before his tenure at USA Rare Earth, Mr. Hawes held executive leadership roles for investment firms Delta1X and Hawking Alpha. He has led entrepreneurial capital integration for several companies by leading seamless combination of entrepreneurial spirit with Wall Street expertise to empower businesses of all sizes. Mr. Hawes' vision includes leveraging technology and global markets for corporate and shareholder growth. This approach has led to the creation of new markets and remarkable revenue growth of 200-1,000%. He has also advised gubernatorial and executive leadership in the White House and DoD, along with private sector leaders on integrated economic supply chain implications.Mr. Hawes holds several professional designations, including Chartered Market Technician, Certified Hedge Fund Professional, and Qualified Family Office Professional. Hawes holds licenses spanning commodities, investment banking, public, and private securities including Series 3, 63, 65, 7, 79, 82, and SIE. A graduate of Auburn University in Wireless Software Engineering with a minor in Business, Mr. Hawes actively supports Auburn's FMA program by speaking at the Business School. He has made media appearances, including a feature on Trend Following Radio, where he shared insights into the trading industry with a focus on risk management and a passion for mathematics. Mr. Hawes serves on the Board of an international missions organization and is a dedicated supporter of Metro Ministries in Tampa, Florida. Outside of his professional pursuits, he cherishes time spent with his wife, family, and two golden retrievers while fostering children for West Florida Foster Care Services.Mr. Hawes stated, "It is a privilege to be appointed as an independent director and work alongside the amazing team at American Resources. The opportunities for organizational growth both domestically and internationally are immense as they embark on a growth trajectory in the critical mineral and resource industry. I look forward to working with the board to maximize value to shareholders and stakeholders alike."Mr. Layman added, "I couldn't have been more honored to help guide the business in a positive and high-value direction for the future. What we have built at American Resources is a platform for high value growth and I am excited to stay involved in an advisory role and as a long-term investor in the Company to help drive growth and shareholder value."About American Resources CorporationAmerican Resources Corporation (NASDAQ:AREC) is a next-generation, environmentally and socially responsible supplier of high-quality raw materials to the new infrastructure market. The Company is focused on the extraction and processing of metallurgical carbon, an essential ingredient used in steelmaking, critical and rare earth minerals for the electrification market, and reprocessed metal to be recycled. American Resources has a growing portfolio of operations located in the Central Appalachian basin of eastern Kentucky and southern West Virginia where premium quality metallurgical carbon and rare earth mineral deposits are concentrated.American Resources has established a nimble, low-cost business model centered on growth, which provides a significant opportunity to scale its portfolio of assets to meet the growing global infrastructure and electrification markets while also continuing to acquire operations and significantly reduce their legacy industry risks. Its streamlined and efficient operations are able to maximize margins while reducing costs. For more information visit americanresourcescorp.com or connect with the Company on Facebook, Twitter, and LinkedIn.About ReElement Technologies LLCReElement Technologies LLC is redefining how critical and rare earth elements are both sourced and processed while focusing on the recycling of end-of-life products such as rare earth permanent magnets and lithium-ion batteries, as well as coal-based waste streams and byproducts to create a low-cost and environmentally-safe, circular supply chain. ReElement has developed its innovative and scalable "Capture-Process-Purify" process chain in conjunction with its licensed intellectual property including 16 patents and technologies and sponsored research partnerships with three leading universities to support the domestic supply chain's growing demand for magnet and battery metals. For more information visit reelementtech.com or connect with the Company on Facebook, Twitter, and LinkedIn.Special Note Regarding Forward-Looking StatementsThis press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve known and unknown risks, uncertainties, and other important factors that could cause the Company's actual results, performance, or achievements or industry results to differ materially from any future results, performance, or achievements expressed or implied by these forward-looking statements. These statements are subject to a number of risks and uncertainties, many of which are beyond American Resources Corporation's control. The words "believes", "may", "will", "should", "would", "could", "continue", "seeks", "anticipates", "plans", "expects", "intends", "estimates", or similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. Any forward-looking statements included in this press release are made only as of the date of this release. The Company does not undertake any obligation to update or supplement any forward-looking statements to reflect subsequent events or circumstances. The Company cannot assure you that the projected results or events will be achieved.Investor Contact:JTC Team, LLCJenene [email protected] Companies Inc.Todd McKnight1-800-RED-CHIP (733-2447)[email protected] Contact:Mark LaVerghettaVice President of Corporate Finance and Communications317-855-9926 ext. [email protected]: American Resources CorporationView source version on accesswire.com: https://www.accesswire.com/781035/american-resources-corporation-appoints-josh-hawes-as-independent-director

ACCESSWIRE

American Resources Corporation Appoints Josh Hawes as Independent Director

https://finance.yahoo.com/news/american-resources-corporation-appoints-josh-123000666.html

1cb420a0-c0d4-38b0-b9d7-c76cffc3c54e

AREN

NEW YORK, September 06, 2023--(BUSINESS WIRE)--The Arena Group Holdings, Inc. (NYSE American: AREN), a technology platform and media company home to more than 265 brands, including Sports Illustrated, TheStreet, Parade Media, Men’s Journal, and HubPages, today announced that Ross Levinsohn, Chief Executive Officer, Doug Smith, Chief Financial Officer, and Andrew Kraft, Chief Operating Officer will participate in Lake Street Capital Markets’ 7th Annual Best Ideas Growth (BIG7) Conference on Thursday, September 14, 2023. The conference is being held at The Yale Club in New York City.Management will be available for one-on-one and group meetings with investors throughout the day. To receive additional information, request an invitation or to schedule a one-on-one meeting, please email [email protected] or contact FNK IR at [email protected] The Arena GroupThe Arena Group (NYSE American: AREN) is an innovative technology platform and media company with a proven cutting-edge playbook that transforms media brands. Our unified technology platform empowers creators and publishers with tools to publish and monetize their content, while also leveraging quality journalism of anchor brands like Sports Illustrated, TheStreet, Parade, Men’s Journal, and HubPages to build their businesses. The company aggregates content across a diverse portfolio of over 265 brands, reaching over 100 million users monthly. Visit us at thearenagroup.net and discover how we are revolutionizing the world of digital media.View source version on businesswire.com: https://www.businesswire.com/news/home/20230906686580/en/ContactsThe Arena Group Contact: Rachael FinkPublic Relations Manager, The Arena [email protected] Arena Group Investor Contact: Rob FinkFNK [email protected]

Business Wire

The Arena Group to Participate in Lake Street Capital Markets’ Annual Best Ideas Growth Conference on September 14

https://finance.yahoo.com/news/arena-group-participate-lake-street-120000207.html

b579d15c-de25-37f8-b638-54302c2af8e7

AREN

NEW YORK, September 07, 2023--(BUSINESS WIRE)--The Arena Group, a technology platform and media company home to Sports Illustrated, Parade, TheStreet, Men’s Journal, and over 265 other brands, has launched the ‘Arena Creator Network’ (ACN) backed by iconic brands across its portfolio. The network will consist of more than 100 creators reaching over 100 million followers, covering all genres – from culture to food, fashion, sports, travel, and more – activated to launch rapid integrated social campaigns on TikTok, Instagram, Facebook, and YouTube with original creator content, exclusive editorial coverage, OTT offerings, and over-the-air channels.The ACN is fully supported by targeted and powerful content distribution with the brand prestige and audience reach of nearly 90 million monthly users across Arena’s sports, finance, and lifestyle media brands, as reported by Comscore. The programs deliver smart targeting through audience and interest matchmaking that is cost-efficient and effective, equipping brands to reach millions of consumers. Additionally, the ACN is developing significant advantages for creators and brand partners through unparalleled access to in-person experiences spanning major sporting events, personal finance, food and travel, as well as entertainment and lifestyle.The move follows a surge in social growth across The Arena Group properties under the guidance of Ting Wang, Senior Vice President of Audience Development, including:Achieving 120% growth in social referrals across its brand portfolio from 2021 to 2022, as per Google Analytics.Video views are expected to triple to 1.5 billion this year from 2021, totaling 175% growth, as reported by ListenFirst.Consistently securing the #1 share of voice on Facebook link posts among all major sports competitors over the past year for Sports Illustrated, as confirmed by CrowdTangle.As of August 2023, Sports Illustrated F1 boasts nearly 120,000 followers, establishing itself as one of the fastest-growing Formula 1 TikTok accounts as compared to individual F1 creators and publishers over the same 3-month timeframe.Sports Illustrated Media Group, the Company’s sports vertical, achieved the #2 ranking in Comscore’s audience measurement of U.S. sports properties in July 2023.Parade grew social referrals by 161% year over year from last year to this year, according to The Arena Group’s internal data.Story continuesRob Barrett, President of Media at The Arena Group said, "This network is a natural next step in media and the evolution of our business. We are leading the way in the movement toward creator and brand collaborations, putting creators and influencers front and center in our coverage of culture and events in sports, lifestyle, and finance worlds. Our goal is to foster strong relationships between content creators and our iconic, trusted brands to empower the next generation of storytellers to deliver impact for sponsors and unlock new revenue streams for all parties."To continue the Company’s audience development growth strategy in the social space, and spearhead the Arena Creator Network under Ting Wang, The Arena Group has welcomed:Lindsay Calabrese, General Manager of Creator Network, leverages over 12 years of experience in leading innovation, cultural impact strategy and creator programs with theAmplify (acquired by Brandtech group), Whalar, and Cashmere Agency.Amanda Solomon, Vice President of Creator Relations, has extensive background across gaming, technology, esports, and entertainment. She previously held the position of Director of Influencer Partnerships with Viral Nation.Nadine Jarrard, Vice President of Social Sales, contributing 15 years of experience building high-performing teams, most recently as a founding member of PROJECT Z.Monique Kakar, Vice President of Creator Strategy and Partnerships, brings almost 20 years of marketing experience; led a strategic sales partnership with Made In Network and integrated brands into leading YouTube channels paired with media and exclusive editorial content across various owned and operated platforms."We are embracing the rapid change in how consumers interact, learn, search, and experience content and how creators use new platforms to express themselves and connect with audiences… reimagining storytelling by partnering creators with brands in front of and behind the lens. The result is deeper through line, social-first content that will inform editorial coverage from our iconic brands. This is how we are uniquely built to help brands tap into culture and move at the speed of culture in a very authentic, integrated way. It’s really a modern, creative media solution, built with purpose," said Lindsay Calabrese, General Manager of Creator Network at The Arena Group.Source: ComScore MMx MultiPlatform, Total Mobile 13+, U.S, July 2023About The Arena GroupThe Arena Group (NYSE American: AREN) is an innovative technology platform and media company with a proven cutting-edge playbook that transforms media brands. Our unified technology platform empowers creators and publishers with tools to publish and monetize their content, while also leveraging quality journalism of anchor brands like Sports Illustrated, TheStreet, Parade, Men’s Journal, and HubPages to build their businesses. The company aggregates content across a diverse portfolio of over 265 brands, reaching over 100 million users monthly. Visit us at thearenagroup.net and discover how we are revolutionizing the world of digital media.View source version on businesswire.com: https://www.businesswire.com/news/home/20230907387270/en/ContactsMEDIA CONTACT Rachael Fink, Manager, Public Relations at The Arena [email protected]

Business Wire

The Arena Group Launches ‘Arena Creator Network:’ A Creator-Led Cultural Content Hub Powered by Iconic Brands for Unmatched Social Branded Opportunities

https://finance.yahoo.com/news/arena-group-launches-arena-creator-180500521.html

450c751d-2b3f-3951-b300-4e52ff617d37

ARIS

For the quarter ended June 2023, Aris Water Solutions, Inc. (ARIS) reported revenue of $96.63 million, up 26.5% over the same period last year. EPS came in at $0.22, compared to $0.41 in the year-ago quarter.The reported revenue represents a surprise of +8.40% over the Zacks Consensus Estimate of $89.14 million. With the consensus EPS estimate being $0.11, the EPS surprise was +100.00%.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.Here is how Aris Water Solutions, Inc. performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:Revenue/Barrel of Total Volumes: $0.70 versus $0.70 estimated by two analysts on average.Direct Operating Costs/Barrel: $0.33 versus the two-analyst average estimate of $0.33.Total Volumes thousands of barrels of water per day: 1497 BBL/D compared to the 1370.61 BBL/D average estimate based on two analysts.Total Water Solutions Volumes thousands of barrels of water per day: 452 BBL/D versus 372 BBL/D estimated by two analysts on average.Produced Water Handling Revenue/Barrel: 1045 BBL versus 998.61 BBL estimated by two analysts on average.View all Key Company Metrics for Aris Water Solutions, Inc. here>>>Shares of Aris Water Solutions, Inc. have returned +4% over the past month versus the Zacks S&P 500 composite's +3% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free reportStory continuesAris Water Solutions, Inc. (ARIS) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

Aris Water Solutions, Inc. (ARIS) Reports Q2 Earnings: What Key Metrics Have to Say

https://finance.yahoo.com/news/aris-water-solutions-inc-aris-013013337.html

16025270-d9a4-3cd6-b5c8-8503a240a32f

ARIS

HOUSTON, August 21, 2023--(BUSINESS WIRE)--Aris Water Solutions, Inc. (NYSE: ARIS) ("Aris", "Aris Water" or the "Company") today announced that Nick Patterson will join the Company as Chief Commercial Officer, effective August 28, 2023. In the newly created role of Chief Commercial Officer, Mr. Patterson will lead the focus and continued growth of all of Aris’s commercial activities, which includes its produced water handling and water solutions businesses. Mr. Patterson will report to Amanda Brock, Chief Executive Officer and President of Aris."We are excited to welcome Nick to the Aris team," said Amanda Brock, Chief Executive Officer and President of Aris. "Nick brings considerable experience and a proven track record in leading, developing and implementing successful commercial strategies. His depth and breadth of experience will further strengthen Aris’s ability to deliver creative solutions to its contracted customers and identify additional growth opportunities. Nick has previously worked with many of Aris’s customers, and we look forward to having Nick on board.""I am thrilled to join a dynamic company like Aris that has its primary area of operations located in some of the best acreage in the Permian Basin with significant commercial opportunities," said Mr. Patterson. "I look forward to being a part of the team and contributing to the positive momentum of the company’s growth."Mr. Patterson joins Aris with over 15 years of energy industry experience, most recently serving as Chief Executive Officer of Delmar Systems. Prior to Delmar Systems, Mr. Patterson led the marketing and business development activities at Atwood Oceanics, Inc. Mr. Patterson also served in the US Army reserves with a deployment to Iraq from 2003 to 2004 and holds a Bachelor of Science in Finance from the University of Arkansas and a master’s degree in business administration from Rice University.Story continuesIn addition, Dylan Van Brunt, who has been with Aris since early 2021 and currently is EVP of Operations and Planning, has been appointed Chief Operating Officer effective immediately. In his expanded role, Mr. Van Brunt will be responsible for planning and operations as well as the management of all aspects of Aris’s development, construction and operation of its integrated produced water handling and recycling water infrastructure system, which also includes engineering, EH&S (environmental, health and safety), and supply chain. Mr. Van Brunt will continue to report to Amanda Brock."Dylan has played an instrumental role in the development and operation of Aris’s infrastructure network and a pivotal role in the success of optimizing our assets," said Amanda Brock. "Dylan has been a great partner and is a respected leader within our organization. Given our strong volume growth as well as the scope and scale of our growing infrastructure network we are confident Dylan will play a key role in delivering on the exciting opportunities that lie ahead for Aris."About Aris Water Solutions, Inc.Aris Water Solutions, Inc. is a leading, growth-oriented environmental infrastructure and solutions company that directly helps its customers reduce their water and carbon footprints. Aris Water delivers full-cycle water handling and recycling solutions that increase the sustainability of energy company operations. Its integrated pipelines and related infrastructure create long-term value by delivering high-capacity, comprehensive produced water management, recycling and supply solutions to operators in the core areas of the Permian Basin.Forward-Looking StatementsThis press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Examples of forward-looking statements include, but are not limited to, those regarding the Company’s business strategy, its industry, its future profitability, current and potential future long-term contracts and the Company’s future business and financial performance and our ability to identify strategic acquisitions and realize benefits therefrom. Forward-looking statements are based on the Company’s current expectations and assumptions regarding its business, the economy and other future conditions. Because forward-looking statements relate to the future, by their nature, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. As a result, the Company’s actual results may differ materially from those contemplated by the forward-looking statements. Factors that could cause the Company’s actual results to differ materially from the results contemplated by such forward-looking statements include but are not limited to the risk factors discussed or referenced in its filings made from time to time with the U.S. Securities and Exchange Commission. Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date hereof. Factors or events that could cause the Company’s actual results to differ may emerge from time to time, and it is not possible for the Company to predict all of them. The Company undertakes no obligation to update or revise any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by law.View source version on businesswire.com: https://www.businesswire.com/news/home/20230821174143/en/ContactsDavid TuerffSenior Vice President, Finance and Investor Relations(281) [email protected]

Business Wire

Aris Water Solutions, Inc. Announces New Leadership Appointments

https://finance.yahoo.com/news/aris-water-solutions-inc-announces-201500314.html

d99ccea4-e294-33fa-a6d2-61b97e5713ea

ARKO

Some investors rely on dividends for growing their wealth, and if you're one of those dividend sleuths, you might be intrigued to know that Arko Corp. (NASDAQ:ARKO) is about to go ex-dividend in just four days. Typically, the ex-dividend date is one business day before the record date which is the date on which a company determines the shareholders eligible to receive a dividend. The ex-dividend date is important as the process of settlement involves two full business days. So if you miss that date, you would not show up on the company's books on the record date. This means that investors who purchase Arko's shares on or after the 14th of August will not receive the dividend, which will be paid on the 1st of September.The company's next dividend payment will be US$0.03 per share, on the back of last year when the company paid a total of US$0.12 to shareholders. Calculating the last year's worth of payments shows that Arko has a trailing yield of 1.5% on the current share price of $7.98. Dividends are an important source of income to many shareholders, but the health of the business is crucial to maintaining those dividends. As a result, readers should always check whether Arko has been able to grow its dividends, or if the dividend might be cut. View our latest analysis for Arko Dividends are typically paid from company earnings. If a company pays more in dividends than it earned in profit, then the dividend could be unsustainable. Arko paid out a comfortable 30% of its profit last year. A useful secondary check can be to evaluate whether Arko generated enough free cash flow to afford its dividend. Luckily it paid out just 24% of its free cash flow last year.It's positive to see that Arko's dividend is covered by both profits and cash flow, since this is generally a sign that the dividend is sustainable, and a lower payout ratio usually suggests a greater margin of safety before the dividend gets cut.Story continuesClick here to see the company's payout ratio, plus analyst estimates of its future dividends.historic-dividendHave Earnings And Dividends Been Growing?Businesses with strong growth prospects usually make the best dividend payers, because it's easier to grow dividends when earnings per share are improving. Investors love dividends, so if earnings fall and the dividend is reduced, expect a stock to be sold off heavily at the same time. That's why it's comforting to see Arko's earnings have been skyrocketing, up 54% per annum for the past five years. Arko is paying out less than half its earnings and cash flow, while simultaneously growing earnings per share at a rapid clip. Companies with growing earnings and low payout ratios are often the best long-term dividend stocks, as the company can both grow its earnings and increase the percentage of earnings that it pays out, essentially multiplying the dividend.Given that Arko has only been paying a dividend for a year, there's not much of a past history to draw insight from.Final TakeawayIs Arko an attractive dividend stock, or better left on the shelf? Arko has been growing earnings at a rapid rate, and has a conservatively low payout ratio, implying that it is reinvesting heavily in its business; a sterling combination. Arko looks solid on this analysis overall, and we'd definitely consider investigating it more closely.While it's tempting to invest in Arko for the dividends alone, you should always be mindful of the risks involved. We've identified 2 warning signs with Arko (at least 1 which is a bit unpleasant), and understanding them should be part of your investment process.A common investing mistake is buying the first interesting stock you see. Here you can find a full list of high-yield dividend stocks.Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

Simply Wall St.

There's A Lot To Like About Arko's (NASDAQ:ARKO) Upcoming US$0.03 Dividend

https://finance.yahoo.com/news/theres-lot-arkos-nasdaq-arko-100826298.html

45d499d9-8676-37bb-bd43-96efa64f1f36

ARKO

Key InsightsGiven the large stake in the stock by institutions, Arko's stock price might be vulnerable to their trading decisionsA total of 4 investors have a majority stake in the company with 50% ownership 23% of Arko is held by insidersEvery investor in Arko Corp. (NASDAQ:ARKO) should be aware of the most powerful shareholder groups. With 28% stake, institutions possess the maximum shares in the company. In other words, the group stands to gain the most (or lose the most) from their investment into the company.As a result, institutional investors endured the highest losses last week after market cap fell by US$85m. Needless to say, the recent loss which further adds to the one-year loss to shareholders of 25% might not go down well especially with this category of shareholders. Also referred to as "smart money", institutions have a lot of sway over how a stock's price moves. Hence, if weakness in Arko's share price continues, institutional investors may feel compelled to sell the stock, which might not be ideal for individual investors.In the chart below, we zoom in on the different ownership groups of Arko. Check out our latest analysis for Arko ownership-breakdownWhat Does The Institutional Ownership Tell Us About Arko?Institutional investors commonly compare their own returns to the returns of a commonly followed index. So they generally do consider buying larger companies that are included in the relevant benchmark index.Arko already has institutions on the share registry. Indeed, they own a respectable stake in the company. This can indicate that the company has a certain degree of credibility in the investment community. However, it is best to be wary of relying on the supposed validation that comes with institutional investors. They too, get it wrong sometimes. If multiple institutions change their view on a stock at the same time, you could see the share price drop fast. It's therefore worth looking at Arko's earnings history below. Of course, the future is what really matters.Story continuesearnings-and-revenue-growthOur data indicates that hedge funds own 20% of Arko. That's interesting, because hedge funds can be quite active and activist. Many look for medium term catalysts that will drive the share price higher. Davidson Kempner Capital Management LP is currently the company's largest shareholder with 20% of shares outstanding. For context, the second largest shareholder holds about 12% of the shares outstanding, followed by an ownership of 9.7% by the third-largest shareholder. Arie Kotler, who is the third-largest shareholder, also happens to hold the title of Chairman of the Board.On looking further, we found that 50% of the shares are owned by the top 4 shareholders. In other words, these shareholders have a meaningful say in the decisions of the company.While it makes sense to study institutional ownership data for a company, it also makes sense to study analyst sentiments to know which way the wind is blowing. There are plenty of analysts covering the stock, so it might be worth seeing what they are forecasting, too.Insider Ownership Of ArkoThe definition of company insiders can be subjective and does vary between jurisdictions. Our data reflects individual insiders, capturing board members at the very least. Management ultimately answers to the board. However, it is not uncommon for managers to be executive board members, especially if they are a founder or the CEO.Most consider insider ownership a positive because it can indicate the board is well aligned with other shareholders. However, on some occasions too much power is concentrated within this group.It seems insiders own a significant proportion of Arko Corp.. Insiders own US$202m worth of shares in the US$880m company. This may suggest that the founders still own a lot of shares. You can click here to see if they have been buying or selling. General Public OwnershipThe general public-- including retail investors -- own 13% stake in the company, and hence can't easily be ignored. While this group can't necessarily call the shots, it can certainly have a real influence on how the company is run.Private Equity OwnershipWith an ownership of 8.6%, private equity firms are in a position to play a role in shaping corporate strategy with a focus on value creation. Sometimes we see private equity stick around for the long term, but generally speaking they have a shorter investment horizon and -- as the name suggests -- don't invest in public companies much. After some time they may look to sell and redeploy capital elsewhere.Private Company OwnershipWe can see that Private Companies own 8.0%, of the shares on issue. It might be worth looking deeper into this. If related parties, such as insiders, have an interest in one of these private companies, that should be disclosed in the annual report. Private companies may also have a strategic interest in the company.Next Steps:It's always worth thinking about the different groups who own shares in a company. But to understand Arko better, we need to consider many other factors. For instance, we've identified 3 warning signs for Arko (1 doesn't sit too well with us) that you should be aware of.If you are like me, you may want to think about whether this company will grow or shrink. Luckily, you can check this free report showing analyst forecasts for its future.NB: Figures in this article are calculated using data from the last twelve months, which refer to the 12-month period ending on the last date of the month the financial statement is dated. This may not be consistent with full year annual report figures.Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

Simply Wall St.

Institutional investors may adopt severe steps after Arko Corp.'s (NASDAQ:ARKO) latest 8.8% drop adds to a year losses

https://finance.yahoo.com/news/institutional-investors-may-adopt-severe-145937903.html

6dcca685-80cd-3028-b918-7940b81f38f6

ARKR

ParticipantsAnthony J. Sirica; CFO, President & Director; Ark Restaurants Corp.Christopher Love; Secretary; Ark Restaurants Corp.Michael Weinstein; Founder, Chairman & CEO; Ark Restaurants Corp.Unidentified Company RepresentativeJeffrey KaminskyUnidentified ParticipantPresentationOperatorGreetings, and welcome to the Ark Restaurants Third Quarter 2023 Results Call. (Operator Instructions). As a reminder, this conference is being recorded. I would now like to turn the conference over to your host, Christopher Love, Secretary for Ark Restaurants. Thank you. You may begin.Christopher LoveThank you, operator. Good morning, and thank you for joining us on our conference call for the third quarter ended July 1, 2023. My name is Christopher Love, and I am the Secretary of Ark Restaurants. With me on the call today is Michael Weinstein, our Chairman and CEO; Anthony Sirica, our President and Chief Financial Officer; and Vinny Pascal, our Chief Operating Officer. For those of you who have not yet obtained a copy of our press release, it was issued over the Newswires yesterday and is available on our website. To review the full text of that press release, along with the associated financial tables, please go to our homepage at www.arkrestaurants.com. Before we begin, however, I'd like to read the safe harbor statement. I need to remind everyone that part of our discussion this morning will include forward-looking statements and that these statements are not guarantees of future performance, and therefore, undue reliance should not be placed on them. We refer everyone to our filings with the Securities and Exchange Commission for a more detailed discussion of the risks that may have a direct bearing on our operating results, performance and financial condition. I'll now turn the call over to Mike.Michael WeinsteinHi, everybody. Thank you for joining us. I think I want to first hand over everything to Anthony, so we can go over some balance sheet items, and then I'll take the call back and discuss where we are.Story continuesAnthony J. SiricaThanks, Michael. The quarter was really quiet with respect to the balance sheet. We ended the quarter with $14 million in cash and $7.7 million in debt. We paid down an additional $6 million of loans early on April 4 due to the high rates that -- and we're now being charged because of the interest rate environment. Our current cash position is approximately the same as it was at the end of the quarter. Other than that, on the balance sheet, there really aren't any significant changes, very quiet. I think you also -- the Board also declared the dividend last week of $0.1875 payable on September 12 to record holders on August 31.Michael WeinsteinAll right. Thank you, Anthony. Obviously, we did not create or generate the EBITDA we did last year for this quarter. The -- there are 3 components to that: number one in Las Vegas, our Gallagher's restaurant because of the refurbishing requirements and our new leases required us -- we started the refurbishing somewhere in the prior quarter, but we will still close until April 27 in this quarter when it reopened. So that caused us a significant of the revenue and therefore, some EBITDA cash flow. The second factor is our Florida full-service restaurants. They are just down. Even though the down end revenue of about 10%, 12% on average, if you take all of them (inaudible) beach, followed one by the [Sea], Rustic and Shuckers. So those 4 restaurants, on average, are down about 10%. It's slightly worse with headcounts because we've had some menu price increases post-pandemic and as we continue those menu price increases, and we're up maybe 4%, 5% in menu prices from the prior quarter in 2022. So given that headcounts are down 13%, 14%. I can tell you from what we're hearing and we speak to people, we are not alone at most full-service Florida restaurants in the southern part of the state are experiencing the same thing. We have no excuses. We think our menus are fairly priced in the environment we're in, and the product is good. I think we were comparing to pent-up demand in the prior year's quarter. That's not visible to us this year. Our Alabama restaurants are doing very well. Our Las Vegas sales have been very strong. The New York sales have been very good, Washington, D.C. So Florida remains the weak spot. Another factor in the EBITDA difference between this year and last year are payrolls. We're able to find people now, but the price points are higher than they've been in the past. We think it's starting to stabilize. We have most positions filled throughout the company. So we're fully staffed. It's just costing us more...Anthony J. SiricaWe've had minimum wage increase in Vegas, Florida...Michael WeinsteinYes. As Anthony is saying legislative minimum wage increases in Vegas, Florida and D.C. So we're up against it in terms of labor. Food costs have stabilized. In some cases, we've seen a dive back towards where we used to be. We're managing our food costs very well, I think. And I think we're managing payroll. When we're fully staffed, we're trying to eliminate all overtime, but prices for labor are just higher. So I think that sort of gives you an explanation of the environment we're in. This quarter, so far, we haven't seen any increase in demand in the full-service Florida restaurants. The other restaurants seem to be doing what we -- what our expectations are. So Florida remains a big disappointment. I might add that New York, New York, where we do many disciplines. We have fast food court operations. We have full-service restaurants. We have room service. What you see there is a flow into -- demand flow into the fast food court. The food court is doing better than the full-service restaurants. On balance, if you looked at that in the prior year. We just think people are not spending as much. New York, New York happens to be a middle income crowd. That's the demographic. So we think we're seeing people opting for less expensive options. That's probably taking place in our Florida restaurants as well. Check averages are down, people are carrying entrees. So it's not only fewer people coming to the restaurant. People coming are not spending what they used to spend. It's just the environment we're in. So with that, I'll take the questions.Question and Answer SessionOperator(Operator Instructions) Our first question comes from the line of Paul Johnson, Private Investor.Unidentified ParticipantI just joined the call, so you may have spoken about this already, but can you give us an update on the Meadowlands?Michael WeinsteinYes, I'm happy to. So there's nothing really going on there. in terms of the state legislature or the governor. They have taken the same attitude as the majority partners in the Meadowlands. We're the third largest holder of the limited partnership interest. Hard Rock and an individual developer in New York in the majority -- represents the majority of the limiteds. The attitude has been that we should not be pushing for a referendum to the state constitution to allow for gaming outside of Atlantic City until casinos in New York have either been issued their licenses for downstate or are in operation downstate. That seems to be Murphy's position as well and key legislatures who my partners speak to. This is essentially the fear that the public will not understand the importance of a casino to tax revenues in New Jersey until they see people driving through the tunnels or over the bridges to get to downstate New York casinos. We have -- I don't think -- we have one clear good shot of getting the public behind us. We do polling of the public. It's slightly in favor if the referendum was to be proposed to the legislature, but it's by no means a slam dunk. And therefore, we think the pressure created by New York casinos being open would be advantageous to our cause. In the meantime...Unidentified ParticipantAnd what would be...Michael WeinsteinPardon?Unidentified ParticipantSorry, I was just going to ask what would the timing be for that in a perfect world?Michael WeinsteinWell, the perfect world is that before the end of this year, New York is supposed to issue 3 downstate casino licenses. We know -- we don't know. We -- by the way, we speak to law firms that are representing individual developers in New York to get their take on it all. So I don't do this every day, but once every 2 or 3 months, I call a couple of partners in these firms and -- who I happen to know. And the feeling is strongly that Yonkers gets a license that's owned by MGM, Genting gets a license at Aqueduct. And then there's one up for (inaudible). There's the Trump property in the Bronx that's vying for it. There are 3 or 4 properties in Manhattan, Hudson Yards being one of the primaries. And then Steve Cohen at Shea stadium -- MET Stadium is vying for one. We don't think -- and we don't think Cohen gets it because that's public parkland. And we think there'll be a lot of litigation with that. So we think it's likely to be -- there's another player. The Venetian has put together acreage in Queens as well. That's a viable property. We had difficulty thinking about a casino in Manhattan. But that's my point of view. We think there would a lot of litigation. One of the managers that Meadowlands has, and I've said this in the past, we are already built for first phase of the casino project. We could be in business literally in 60 days. All the environmental studies have been done. There is no residential around us to litigate that this is going to be an impactful on them. There's plenty of parking. So we just think with the natural habitat for a casino license. So that's basically where we are. We're honestly highly confident. It just requires New York to follow through and issue these licenses. If they issue the licenses, by the way, MGM gets one for Yonkers, Genting gets one for Aqueduct, they'll be in business in a matter of months. So it will push the timetable forward dramatically for legislation in New York. I would think there's a good shot that legislation is brought up next -- in the next year session, prior to November.Unidentified ParticipantGot it. And then you've got a fair amount of cash on the balance sheet, which is great and you announced the dividend. Is the idea instead of maybe buying back stock, it's kind of the liquid, but is the idea that you want to hold on to that cash in case there's attractive acquisition opportunity?Michael WeinsteinThat's always been the case. We're always looking -- we'll find something once a year, I would think that's attractive. We also are believers that our cash position will be helpful in the Meadowlands if a license is issued. We have exclusivity with the product -- exception of a cut out for a Hard Rock Cafe, we have exclusivity to all the food and beverage if a casino is built. So we're going to need cash for that as well. We think we don't -- we won't have very much trouble capital to do those projects, but whatever capital we can keep on the balance sheet will be helpful.Unidentified ParticipantI thought you had said in the past that if that all came to pass that it's more likely you'd sell the interest to Hard Rock.Michael WeinsteinIf Hard Rock is a developer with us, I really believe before we -- there are 2 parts of this: number one, I want to be in a position not to be diluted very much, so the cash on the balance sheet helps; number two, I really believe at some point before the casino were to open, that Hard Rock would want to consolidate its position and buy out minority limited partners, even though we're the third largest -- our interest is in the 7%.Unidentified Company Representative7.4%.Michael Weinstein7.4%. So I don't know that I would think it's logical that they would want us out. But I can't guarantee that to myself. So obviously, the statement that cash on our balance sheet helps our position still stands until they come around with an offer. So that's the way we're playing it.Operator(Operator Instructions). Our next question comes from the line of Jeffrey Kaminsky with JJK Consultants.Jeffrey KaminskyA few questions for you, Mike and team. Approximately $14 million in cash on the balance sheet and approximately $7 million in debt. You said you paid off some debt. Is the current $7 million debt locked in at lower rates? Or is there some interest rate risk there? And I have a couple of...Anthony J. SiricaThey're at the current rates. We considered paying those off, but we were looking at a couple of deals, which didn't pump to fruition. So again, we want to keep that cash to do an acquisition, which we hope will come along soon.Michael WeinsteinBut we also have a credit line available to us beyond all of this.Jeffrey KaminskyOkay. With respect to leases, weither be be Vegas, New York, any developments in terms of any important leases that are up for renewal or extension? Anything to report there?Michael WeinsteinWe have -- our lease in Brian Park runs through May of 2025. And that lease will be the subject of request of proposal from the Parks Department in New York. We think we're well positioned to extend the lease. We've extended it twice over the 27 years we've been there. We think we're the best use for it. Obviously, other people will respond to the request for proposal. But I think the odds are very much in our favor.Jeffrey KaminskyOkay. And last question, guys. With respect to Meadowlands, which you just discussed, should this play out on the timetable that we're all optimistic about. Mike, you just mentioned about Hard Rock would probably want to consolidate ownership and get rid of minority partners. Do you envision (inaudible) should it work out that way that they buy out the interest, the arc interest you maintain the exclusivity in terms of having the concessions, but for the Hard Rock Cafe or they would go buy you and you (inaudible).Michael WeinsteinYes. Jeff, so yes. So what I would say to you is this, we had a long talk with the tax experts, the Simpson Thatcher about 4 years ago, spinning off our interest in the Meadowlands. Why? Because if we sell our interest in the Meadowlands at any point, it is taxable to the company. And then on a dividend, if we were to pay a dividend, it's again taxable to our shareholders. So there's a double tax involved. We were trying to figure out a way to spin it off so that there would be at a low basis (inaudible) because there's no operation there so that we won't be subject to double taxation, thinking this through to the future and some projection. There is no strong basis where the IRS won't challenge you for spinning this off. So then you look at other possibilities. We're in the restaurant business. We want to keep our restaurants. We would certainly like to operate the restaurants in the casino, we think that would be a terrific opportunity for our shareholders. So how do you go about that? And at the same time, entertain a bid. It's too fuzzy right now. But the -- our interest would be if the price was attractive, figuring out some way to do it and then somehow go back into business as a restaurant company with the properties we presently own. How that could be accomplished? It's not worth thinking about now. But that would be our interest to maintain our restaurants.OperatorI'm showing no other questions at this time. I'll turn the floor back to Mr. Weinstein for any final comments.Michael WeinsteinAll right. Thank you. We'll speak to you in about 3 months. I appreciate your interest and look forward to our next conference call. Take care.OperatorThank you. This concludes today's conference call. You may disconnect your lines at this time. Thank you for your participation.

Thomson Reuters StreetEvents

Q3 2023 Ark Restaurants Corp Earnings Call

https://finance.yahoo.com/news/q3-2023-ark-restaurants-corp-044354697.html

0d7a6fbc-9ef7-3dbb-ac4b-621d5588a6a4

ARKR

With its stock down 10% over the past month, it is easy to disregard Ark Restaurants (NASDAQ:ARKR). But if you pay close attention, you might find that its key financial indicators look quite decent, which could mean that the stock could potentially rise in the long-term given how markets usually reward more resilient long-term fundamentals. Specifically, we decided to study Ark Restaurants' ROE in this article.Return on Equity or ROE is a test of how effectively a company is growing its value and managing investors’ money. In short, ROE shows the profit each dollar generates with respect to its shareholder investments. See our latest analysis for Ark Restaurants How To Calculate Return On Equity?The formula for return on equity is:Return on Equity = Net Profit (from continuing operations) ÷ Shareholders' EquitySo, based on the above formula, the ROE for Ark Restaurants is:9.7% = US$6.1m ÷ US$63m (Based on the trailing twelve months to July 2023).The 'return' is the amount earned after tax over the last twelve months. One way to conceptualize this is that for each $1 of shareholders' capital it has, the company made $0.10 in profit.What Has ROE Got To Do With Earnings Growth?So far, we've learned that ROE is a measure of a company's profitability. Depending on how much of these profits the company reinvests or "retains", and how effectively it does so, we are then able to assess a company’s earnings growth potential. Assuming all else is equal, companies that have both a higher return on equity and higher profit retention are usually the ones that have a higher growth rate when compared to companies that don't have the same features.Ark Restaurants' Earnings Growth And 9.7% ROEAt first glance, Ark Restaurants' ROE doesn't look very promising. Next, when compared to the average industry ROE of 17%, the company's ROE leaves us feeling even less enthusiastic. However, we we're pleasantly surprised to see that Ark Restaurants grew its net income at a significant rate of 26% in the last five years. So, there might be other aspects that are positively influencing the company's earnings growth. Such as - high earnings retention or an efficient management in place.Story continuesWe then compared Ark Restaurants' net income growth with the industry and we're pleased to see that the company's growth figure is higher when compared with the industry which has a growth rate of 19% in the same 5-year period.past-earnings-growthThe basis for attaching value to a company is, to a great extent, tied to its earnings growth. The investor should try to establish if the expected growth or decline in earnings, whichever the case may be, is priced in. This then helps them determine if the stock is placed for a bright or bleak future. Is Ark Restaurants fairly valued compared to other companies? These 3 valuation measures might help you decide.Is Ark Restaurants Making Efficient Use Of Its Profits?Ark Restaurants has a really low three-year median payout ratio of 2.9%, meaning that it has the remaining 97% left over to reinvest into its business. So it looks like Ark Restaurants is reinvesting profits heavily to grow its business, which shows in its earnings growth.Additionally, Ark Restaurants has paid dividends over a period of at least ten years which means that the company is pretty serious about sharing its profits with shareholders.ConclusionIn total, it does look like Ark Restaurants has some positive aspects to its business. Even in spite of the low rate of return, the company has posted impressive earnings growth as a result of reinvesting heavily into its business. While we won't completely dismiss the company, what we would do, is try to ascertain how risky the business is to make a more informed decision around the company. You can see the 3 risks we have identified for Ark Restaurants by visiting our risks dashboard for free on our platform here.Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

Simply Wall St.

Ark Restaurants Corp. (NASDAQ:ARKR) Stock's Been Sliding But Fundamentals Look Decent: Will The Market Correct The Share Price In The Future?

https://finance.yahoo.com/news/ark-restaurants-corp-nasdaq-arkr-144614676.html

b2c21f3b-5bf9-320a-9f99-65a503f1cca0

ARLO

The Computer and Technology group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Has Applied Materials (AMAT) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.Applied Materials is a member of the Computer and Technology sector. This group includes 633 individual stocks and currently holds a Zacks Sector Rank of #8. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.The Zacks Rank is a successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. Applied Materials is currently sporting a Zacks Rank of #2 (Buy).Over the past 90 days, the Zacks Consensus Estimate for AMAT's full-year earnings has moved 6.9% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.Our latest available data shows that AMAT has returned about 57.7% since the start of the calendar year. At the same time, Computer and Technology stocks have gained an average of 41.9%. As we can see, Applied Materials is performing better than its sector in the calendar year.Another Computer and Technology stock, which has outperformed the sector so far this year, is Arlo Technologies (ARLO). The stock has returned 189.5% year-to-date.In Arlo Technologies' case, the consensus EPS estimate for the current year increased 10.2% over the past three months. The stock currently has a Zacks Rank #2 (Buy).Looking more specifically, Applied Materials belongs to the Semiconductor Equipment - Wafer Fabrication industry, a group that includes 4 individual stocks and currently sits at #31 in the Zacks Industry Rank. This group has gained an average of 38% so far this year, so AMAT is performing better in this area.Story continuesIn contrast, Arlo Technologies falls under the Internet - Software industry. Currently, this industry has 148 stocks and is ranked #91. Since the beginning of the year, the industry has moved +50.9%.Going forward, investors interested in Computer and Technology stocks should continue to pay close attention to Applied Materials and Arlo Technologies as they could maintain their solid performance.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free reportApplied Materials, Inc. (AMAT) : Free Stock Analysis ReportArlo Technologies, Inc. (ARLO) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

Is Applied Materials (AMAT) Stock Outpacing Its Computer and Technology Peers This Year?

https://finance.yahoo.com/news/applied-materials-amat-stock-outpacing-134009703.html

9382de3b-aadd-3e52-b52a-9a5f13c1240f

ARLO

Key InsightsSignificantly high institutional ownership implies Arlo Technologies' stock price is sensitive to their trading actionsThe top 11 shareholders own 51% of the companyUsing data from analyst forecasts alongside ownership research, one can better assess the future performance of a companyTo get a sense of who is truly in control of Arlo Technologies, Inc. (NYSE:ARLO), it is important to understand the ownership structure of the business. With 79% stake, institutions possess the maximum shares in the company. In other words, the group stands to gain the most (or lose the most) from their investment into the company.Because institutional owners have a huge pool of resources and liquidity, their investing decisions tend to carry a great deal of weight, especially with individual investors. Therefore, a good portion of institutional money invested in the company is usually a huge vote of confidence on its future.In the chart below, we zoom in on the different ownership groups of Arlo Technologies. See our latest analysis for Arlo Technologies ownership-breakdownWhat Does The Institutional Ownership Tell Us About Arlo Technologies?Institutions typically measure themselves against a benchmark when reporting to their own investors, so they often become more enthusiastic about a stock once it's included in a major index. We would expect most companies to have some institutions on the register, especially if they are growing.Arlo Technologies already has institutions on the share registry. Indeed, they own a respectable stake in the company. This can indicate that the company has a certain degree of credibility in the investment community. However, it is best to be wary of relying on the supposed validation that comes with institutional investors. They too, get it wrong sometimes. When multiple institutions own a stock, there's always a risk that they are in a 'crowded trade'. When such a trade goes wrong, multiple parties may compete to sell stock fast. This risk is higher in a company without a history of growth. You can see Arlo Technologies' historic earnings and revenue below, but keep in mind there's always more to the story.Story continuesearnings-and-revenue-growthInstitutional investors own over 50% of the company, so together than can probably strongly influence board decisions. Hedge funds don't have many shares in Arlo Technologies. BlackRock, Inc. is currently the company's largest shareholder with 15% of shares outstanding. For context, the second largest shareholder holds about 9.6% of the shares outstanding, followed by an ownership of 5.0% by the third-largest shareholder. In addition, we found that Matthew McRae, the CEO has 2.6% of the shares allocated to their name.A closer look at our ownership figures suggests that the top 11 shareholders have a combined ownership of 51% implying that no single shareholder has a majority.While it makes sense to study institutional ownership data for a company, it also makes sense to study analyst sentiments to know which way the wind is blowing. There are plenty of analysts covering the stock, so it might be worth seeing what they are forecasting, too.Insider Ownership Of Arlo TechnologiesWhile the precise definition of an insider can be subjective, almost everyone considers board members to be insiders. The company management answer to the board and the latter should represent the interests of shareholders. Notably, sometimes top-level managers are on the board themselves.I generally consider insider ownership to be a good thing. However, on some occasions it makes it more difficult for other shareholders to hold the board accountable for decisions.We can report that insiders do own shares in Arlo Technologies, Inc.. As individuals, the insiders collectively own US$43m worth of the US$965m company. Some would say this shows alignment of interests between shareholders and the board. But it might be worth checking if those insiders have been selling. General Public OwnershipThe general public-- including retail investors -- own 16% stake in the company, and hence can't easily be ignored. While this group can't necessarily call the shots, it can certainly have a real influence on how the company is run.Next Steps:I find it very interesting to look at who exactly owns a company. But to truly gain insight, we need to consider other information, too. Be aware that Arlo Technologies is showing 2 warning signs in our investment analysis , you should know about...Ultimately the future is most important. You can access this free report on analyst forecasts for the company.NB: Figures in this article are calculated using data from the last twelve months, which refer to the 12-month period ending on the last date of the month the financial statement is dated. This may not be consistent with full year annual report figures.Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

Simply Wall St.

Arlo Technologies, Inc. (NYSE:ARLO) is largely controlled by institutional shareholders who own 79% of the company

https://finance.yahoo.com/news/arlo-technologies-inc-nyse-arlo-102339113.html

45da1b41-93d9-3409-9a9d-9d3318c47149

ARMK

PHILADELPHIA, September 07, 2023--(BUSINESS WIRE)--As anticipation for the upcoming 2023 National Football League (NFL) season reaches its peak, Aramark Sports + Entertainment (Aramark, NYSE: ARMK), the award-winning food and beverage partner at 10 NFL venues, is thrilled to announce a game-changing lineup of new offerings for football’s loyal foodies. Continuing to revolutionize how guests experience game day, Aramark has not only developed new menu items and retail offerings across its portfolio but has deployed more artificial-intelligence (AI)-powered and self-checkout technologies that make the dining experience more convenient and allow fans to savor every moment of the on-field action."Aramark is committed to enhancing every facet of service and hospitality on game day, and we are thrilled for fans to experience everything we have to offer this season," said Alicia Woznicki, Vice President of Design and Development at Aramark Sports + Entertainment. "From culinary creations with flavorful ingredients to revolutionary innovations that we’ve scaled to improve efficiency and speed of service, guests will enjoy football games like never before – with increased food options, shorter wait times, and more time in their seats cheering on their team."EXPANDING REVOLUTIONARY DRINK MARKETSAfter years of testing, four NFL stadiums will do away with traditional packaged beer portables and exclusively use Aramark’s game-changing, grab-and-go Walk Thru Bru markets.Walk Thru Brus will be expanded to 70 new locations as the exclusive beer market at Acrisure Stadium, Empower Field at Mile High, Cleveland Browns Stadium, and Soldier Field. Guests who verify their age as 21+ using valid, government-issued identification (ID) can choose from a wide variety of beverages and checkout 10 times faster when paired with AI technology. After proving successful in prior season testing, including a 46% increase in transactions, Aramark’s expansion of the state-of-the-art drink markets will continue to increase speed of service, reduce congestion on the concourse, and add variety for guests.Story continuesADDING CONVENIENT SERVICE TECHNOLOGYTo decrease wait times and increase speed of service, Aramark has rolled out the following:Digital Age Verification: Empower Field at Mile High will pilot a frictionless purchasing experience that uses IDmission with Zippin checkout-free technology. Enrolled fans can walk up to the turnstile, have their face scanned to verify their age as 21+, select items from the store, and exit. Fans can enroll with a valid, government-issued ID, their credit card information, and a selfie.Fans at GEHA Field at Arrowhead Stadium can skip the line with a new checkout-free hot food stand powered by Zippin. Located at Kingdom Grill in Section 127, fans can shop this store using a credit card or by scanning the Zippin app at entry and selecting what they want before exiting. NRG Stadium will also introduce a checkout-free smart store in Section 548 where fans can purchase hot food and beverages.Bartesian: Providing bar-quality cocktails at the push of a button, Bartesian cocktail machines will be deployed in suites, clubs, and on mobile bar carts at Cleveland Browns Stadium and U.S. Bank Stadium to serve premium cocktails to fans in less than 30 seconds per serve, after showing their valid, government-issued ID.Mobile Self-Scan: Empower Field at Mile High will pilot Scan & Go at a new Mountain Pass location in Section 107 where guests can skip the line and use their mobile device to add items to their cart, then pay using Apple Pay, Google Pay, or credit card.Self-Checkout Kiosks:Decreasing wait times with the touch of a few buttons, new self-checkout kiosks will now be available at Empower Field at Mile High (Fan Favs, Sections 114, 230; Drink Mkt, Section 234) and Acrisure Stadium (Drink Mkt, Section 424).Acrisure Stadium will feature two new Steel City Classics locations powered by Mashgin technology that allow guests to pay and go through a touchless checkout system (Sections 515, 539).As part of a large renovation project, Paycor Stadium will be adding eight self-checkout locations and eleven self-order locations powered by Tapin2 technology.M&T Bank Stadium will feature a new Fan Favs Express in Section 505 with self-checkout kiosks and will introduce Raven’s Pop, where fans can fill their own buckets of popcorn with the swipe of a credit card and push of a button.INTRODUCING GAME TIMETo offer fans the most desired and specialized menu items, consumer behaviors and game-day metrics are analyzed, including time of kickoff, best-selling items, and more. Data from prior years led to the creation of this season’s new culinary program, Game Time (#GameTime). A new twist on game day mealtimes, Game Time takes two signature restaurant service styles – brunch and late-night dining – and delivers timely menus for this season. For earlier kickoffs, fans can enjoy classic brunch favorites, and for evening games, fans can satisfy their late-night cravings.Brunch:Brunch Banh Mi (Empower Field at Mile High Stadium): Fried egg patty with pork belly, chorizo carrots, and daikon, topped with Japanese mayonnaise, siracha, and cilantro on a baguette. (Section 512)Brunch Burger (Soldier Field): Beef patty topped with American cheese, hashbrowns, bacon, fried egg, caramelized onion, and maple ketchup on a potato bun. (North Marche)Brunch Fry (M&T Bank Stadium): Potato fries topped with cheese curd, sausage gravy, and green onion. (Section 146)Burnt Ends Breakfast (Paycor Stadium): Korean barbecue burnt ends topped with breakfast potatoes, scrambled eggs, pickled red onion, kimchi slaw, and crema. (Section 150)Chicken Croissant Cone (GEHA Field at Arrowhead Stadium): Rolled croissant with mac and cheese, breaded chicken tenders, bacon, jalapeños, and hot honey drizzle. (Sections 112, 126)Chicken Tenders Funnel Cake (Cleveland Browns Stadium): Fried funnel cake topped with breaded chicken tenders, powdered sugar, and syrup drizzle. (Section 121)Crab Chimichanga (U.S. Bank Stadium): Buttered crab meat with diced tomato, Monterey Jack cheese, and green salsa in a fried tortilla. (Polaris Club)Fudge Puppy Waffles (Acrisure Stadium): Handmade waffles dipped in white chocolate topped with M&M’s® and dark chocolate. (Section 129)Hot Honey Chicken and Waffle (NRG Stadium): Belgian waffle and breaded chicken breast drizzled with pure hot honey. (Sections 118, 138, 506, 532)Slim Chicken 2.0 (Lincoln Financial Field): Apple fritter with Frosted Flakes® fried chicken, Cooper® Sharp cheese, honey glazed bacon, cherry jam, and ghost chili. (Stand 134)Late-Night:Cannoli Nachos (Lincoln Financial Field): Cannoli nacho chips topped with Valrhona chocolate, whipped ricotta, diced strawberries, strawberry pearls, pistachio dust, caramel sauce, espresso dirt, and topped with micro mint, lemon, and donut sugar. (Stand 134)Chicken Quesadilla Burger (GEHA Field at Arrowhead Stadium): Chicken quesadilla buns with guacamole, beef, lettuce, and pico de gallo mayonnaise. (Sections 109, 321, 345)Chipped Ham Grilled Cheese (Acrisure Stadium): Chipped ham topped with onion tanglers, crispy jalapeños, cheddar cheese, and barbecue sauce on sourdough bread. (Sections C150, 215, 239, 305)Colorado Tater Keg (Empower Field at Mile High Stadium): Stuffed potato topped with pork belly, green chili, cheese, and green onion. (Section 512)Crab Pretzel (M&T Bank Stadium): Salted jumbo pretzel with crab dip, southern pimento cheese, and lager mustard. (Section 146)Elvis Sandwich (U.S. Bank Stadium): Sliced banana, bacon, and peanut butter on grilled sour dough bread. (Polaris Club)Pizza Box Nachos (Soldier Field): House made tortilla chips topped with brisket, queso, pico de gallo, and lime crème. (North Marche)Pork Belly Hoagie (Paycor Stadium): Roasted pork belly with jalapeño bacon jam, mayonnaise, pickled red onion, and cilantro on a hoagie roll. (Section 150)Spicy Slaw Dog (Cleveland Browns Stadium): Grilled hot dog topped with pulled pork, coleslaw, and spicy barbecue sauce on a hot dog bun. (Section 134)NEW CONCESSIONS AND RESTAURANT CONCEPTSAramark is mixing up traditional favorites and partnering with hometown restaurants to bring local flavors to the fans. A selection of these signature dishes and new concessions include:Stadium Staples (Burgers, Hot Dogs, Tenders, Nachos, and More!):Barbeque Pulled Pork Sandwich (Acrisure Stadium): Piled high pulled pork topped with coleslaw and crunchy potato sticks. (Sections 212, 236, 526)Big Dog (Cleveland Browns Stadium): Half-pound, footlong hot dog wrapped in garlic bread. (Sections 107, 110, 129, 138)CitySteak Cheesesteak (Soldier Field): Specialty cheesesteak sandwich topped with grilled onions, peppers, and provolone cheese or Tostitos® cheese. (Portable 103)Hot Chicken Sandwich (GEHA Field at Arrowhead Stadium): Fresh hand-breaded tenders, topped with jalapeños, hot pickles, and buttermilk aioli. (Coop Stand; Sections 136, 112, 126, 303, 327)Loaded Nachos (Paycor Stadium): Beef or chicken, queso Blanco, cilantro crema, and Pico de Gallo. (Nacho Tigre; Sections 122, 132, 148, 102, 308, 338)Pretzel Bites (M&T Bank): Soft pretzel bites in a variety of flavors. (Various locations)Souvenir Football Monster Chicken Nachos (Empower Field at Mile High): Tortilla chips topped with 505 Southwestern® Green Chiles, chili con queso, chicken tinga, pico de gallo, and sour cream, served in a football platter. (Sections 110, 116, 128, 202, 507, 511, 531)Tossed Tenders (NRG Stadium): Chicken tenders tossed in sauce of choice including buffalo, parmesan garlic, or bourbon flavor. (Sections 101,118, 121,132, 138, 323, 351, 506, 520, 532, 546)Tipsy Scoop (Cleveland Browns Stadium, Empower Field at Mile High): Fans can get the best of both worlds with new artisanal, hand-crafted ice cream inspired by classic and contemporary cocktails. This boozy treat is offered in Section 326 at Empower Field at Mile High and in suites at Cleveland Browns Stadium for fans who verify their age as 21+ with valid ID.Wild Child Burger (U.S. Bank Stadium): Hamburger topped with cilantro slaw and gochujang sauce. (Location: All No Name Burger Stands and Retail clubs)Restaurant Concepts:Berg Hospitality (NRG Stadium): The Texas-based hospitality group will offer Italian chopped beef subs, pepperoni parmigiana subs, and mac and cheese with bacon and jalapeños. (50-Yard Line Stands on Clubs East and West)Chef J BBQ (GEHA Field at Arrowhead Stadium): Kansas City’s local barbecue concept will offer a smoked pulled pork sandwich, barbecue brisket sandwich, loaded barbecue tots, and a barbecue Frito pie. (Section 107)Donatos Pizza (Paycor Stadium): Local favorite, Donatos Pizza, debuts as the official pizza of the Cincinnati Bengals. Fans can purchase a Serious Cheese™, Mega Slice, or Pepperoni Mega Slice. (Sections 119, 130, 140, 149, 101, 110, 206, 244, 316, 303, 334, 346)El Tiempo Cantina (NRG Stadium): El Tiempo Cantina’s flavors and culture of Tex Mex cuisine will debut at NRG Stadium with nachos, smoked barbeque cuernos, chili queso, and fajita tacos. (Sections 118, 138, 501 and 527)Heinz Stand (Acrisure Stadium): Featuring a signature hot dog, pigskin ponchos, and A.1 cheesesteak. (Sections 129 and 511)Lincoln Financial Field has partnered with Little Caesars Pizza to bring game day pies to six locations throughout the stadium.Pat and Stuggs (M&T Bank Stadium): New game-day premium vendor serving gourmet burgers and duck fat fries. (Section 129)Skyline Chili (Paycor Stadium): Local favorite, Skyline Chili, is the new official chili partner of the Cincinnati Bengals. (Sections 118, 140, 150, 110, 205, 245, 303, 346)Smoak Craft Barbeque (GEHA Field at Arrowhead Stadium): Kansas City’s local barbeque concept will offer a smoked pulled pork sandwich, barbeque brisket sandwich, and loaded chilly cheese fries. (Section 316)Smoke ‘N Sizzle (Paycor Stadium): New barbeque Concept will offer a smoked pulled pork sandwich, and brisket sandwich, along with Game Time offerings. (Section 150)Taco Love (M&T Bank Stadium): New partnership with local favorite restaurant Taco Love serving tacos, margaritas, and queso. (Section 150)Trill Burgers (NRG Stadium): Houston’s acclaimed, homegrown Smashburger concept from legendary rapper Bun B will serve its signature burgers and fries using self-checkout technology. (Various locations)U.S. Bank Stadium has partnered with several local restaurants to bring hometown flavors to Vikings fans. These include:Gallant Tiger: Featuring gourmet, crustless peanut butter and jelly sandwiches that are guaranteed to bring nostalgia. (Section 129)Union Hmong Kitchen: Offering homemade and Thai-inspired dishes with choices like the Meeka Burger, Banh Mi Brat, and Hot Tots. (Section 111)Soul Bowl (U.S. Bank Stadium): Soul food including Rude Boi Chicken and Waffles, Country Grammar Bowl, Caribe Bowl, Donut Peach Cobbler, and Queen B Lemonade. (Section 317)Nashville Coop (U.S. Bank Stadium): Serving Nashville-style hot chicken tenders and fries. (Section 121)Parlour Bar (U.S. Bank Stadium): Headlined by its famous Smashburger (Section 118)REINVIGORATING RETAILAramark worked alongside its partners at Empower Field at Mile High, GEHA Field at Arrowhead Stadium, and NRG Stadium to upgrade team store locations with everything from new merchandise collections to completely new and expanded spaces.Empower Field at Mile High has expanded its store by 3,000 square feet to include larger checkout areas. At GEHA Field at Arrowhead Stadium, fans can purchase a coveted three-foot-tall NFL player bobblehead complete with a replica Super Bowl LVII ring (while supplies last) or shop from a new walk-in Chiefs Pro Shop located in Section 324. Houston Texans fans at NRG Stadium can get their hands on the new retail line "H-Town Made Collection," along with special drops from local Houston collaborators throughout the season.PHOTOS: A selection of NFL menu items can be downloaded here.About Aramark Sports + EntertainmentAramark Sports + Entertainment serves more than 150 award-winning food and beverage, retail, and facility service programs in premier stadiums, arenas, convention centers, cultural attractions, performance venues, and unique entertainment destinations across North America. The company has received accolades for industry innovations including autonomous markets, dining concepts powered by artificial intelligence, and high-profile events like NBA All-Star and MLB at Field of Dreams. In 2021, Aramark entered into a strategic collaboration with the Philadelphia-based Starr Restaurant Organization, led by entrepreneur and James Beard Award-winning restaurateur, Stephen Starr, which will bring the renowned culinary visionary’s highly sought-after concepts to clients throughout Aramark Sports + Entertainment’s portfolio. Aramark has been recognized on FORTUNE’s list of "World’s Most Admired Companies," DiversityInc’s "Top 50 Companies for Diversity" and "Top Companies for Employee Resource Groups," Newsweek’s list of "America’s Most Responsible Companies 2023," the HRC’s "Best Places to Work for LGBTQ Equality," and scored 100% on the Disability Equality Index. Learn more at www.aramark.com and connect with us on Facebook, Twitter, and LinkedIn.View source version on businesswire.com: https://www.businesswire.com/news/home/20230907239711/en/ContactsMedia Contact:Sheena [email protected] 215-238-3919

Business Wire

Aramark Sports + Entertainment Kicks Off 2023 NFL Season with Fresh Take on Game Day Eats, Service Technologies, and Retail Offerings

https://finance.yahoo.com/news/aramark-sports-entertainment-kicks-off-120000542.html

8e59a82d-04a3-3cb0-8018-95eed8e1a8c0

ARMK

PHILADELPHIA, September 08, 2023--(BUSINESS WIRE)--Aramark (NYSE:ARMK), a global leader in food, facilities management and uniforms, announced that the Company’s Chief Financial Officer, Tom Ondrof, and Chief Operating Officer, International, Carl Mittleman, will participate in Citi’s 2023 Growth Conference in London on September 15, 2023, with a featured Fireside Chat session beginning at 11:20 a.m. BST / 6:20 a.m. EDT.A live webcast and replay of the fireside chat sessions will be available through the Investor Relations section of the Aramark website at www.aramark.com.About AramarkAramark (NYSE: ARMK) proudly serves the world’s leading educational institutions, Fortune 500 companies, world champion sports teams, prominent healthcare providers, iconic destinations and cultural attractions, and numerous municipalities in 19 countries around the world with food, facilities, and uniform services. Because our culture is rooted in service, our employees strive to do great things for each other, our partners, our communities, and the planet. Aramark has been recognized on FORTUNE’s list of "World’s Most Admired Companies," DiversityInc’s "Top 50 Companies for Diversity" and "Top Companies for Supplier Diversity," Newsweek’s list of "America’s Most Responsible Companies 2023," the HRC’s "Best Places to Work for LGBTQ Equality," and scored 100% on the Disability Equality Index. Learn more at www.aramark.com and connect with us on Facebook, Twitter, and LinkedIn.View source version on businesswire.com: https://www.businesswire.com/news/home/20230908820690/en/ContactsInquiriesFelise Kissell(215) [email protected] Sullivan(215) [email protected]

Business Wire

Aramark to Participate in Upcoming Citi Investor Conference

https://finance.yahoo.com/news/aramark-participate-upcoming-citi-investor-113000179.html

8823fb34-708a-31c2-b7a9-f9ebf7e52740

ARW

CENTENNIAL, Colo., August 16, 2023--(BUSINESS WIRE)--Arrow Electronics, Inc. (NYSE:ARW) today announced that Rick Marano will be named president of the company’s global components business, subject to formal Board appointment at the Board’s next regularly scheduled meeting on Sept. 13, 2023.Rick Marano will succeed Kirk Schell and will report to Sean J. Kerins, president and chief executive officer.Previously Mr. Marano served as president of Arrow’s Americas components business and has been with the company for over 30 years, starting in sales and steadily growing his career through the leadership ranks."Rick is a widely respected leader and mentor, with a particular track record of consistently developing talent and driving business results," said Mr. Kerins. "We look to Rick to build upon the growth of our components business."About Arrow ElectronicsArrow Electronics guides innovation forward for over 210,000 leading technology manufacturers and service providers. With 2022 sales of $37 billion, Arrow develops technology solutions that help improve business and daily life. Learn more at fiveyearsout.com.View source version on businesswire.com: https://www.businesswire.com/news/home/20230816771924/en/ContactsInvestor contact:Arrow Electronics, Inc.Anthony BencivengaVice President, Investor [email protected] 303-566-7456Media contact:Arrow Electronics, Inc.John HouriganVice President, Public Affairs and Corporate [email protected] 303-824-4586

Business Wire

Arrow Electronics Names Rick Marano President of Global Components

https://finance.yahoo.com/news/arrow-electronics-names-rick-marano-120000358.html

a4dbed1a-f2c8-3673-aca3-ba83ec5c0b8a

ARW

NORTHAMPTON, MA / ACCESSWIRE / September 7, 2023 / Arrow ElectronicsSeniors living in Boulder, Colo. are using virtual reality (VR) in a learning and enrichment research program with the support of Arrow Electronics.The program known as VR Silver is being developed by Tech Pals, a Colorado-based nonprofit dedicated to enriching the lives of older adults through technology. Workshops are a collaboration between Tech Pals, the Age Well Center, and the City of Boulder. The program is meant to determine best practices for delivering VR experiences to seniors without regard for financial status, physical limitations, or geographical location.Lessons and experiences include scuba diving, fishing, Tai Chi, nature treks and light saber sword play.The VR benefits that Tech Pals is studying include physical exercise, cognitive stimulation, pain management, stress reduction and neurorehabilitation."Arrow's support makes a profound difference in the lives of older adults, allowing them to embrace the wonders of technology and discover newfound possibilities," said Tech Pals President and Founder Leah Baum.Arrow Electronics has supported Tech Pals since 2019. Previously, Arrow helped the nonprofit sign up low-income older adults for affordable internet service, distributed hundreds of free Chromebooks to seniors, and provided them with technology training and device support.For more information go to www.thetechpals.org and at vrsilver.org and https://www.facebook.com/HiTechPals and https://www.facebook.com/govrsilverAbout Arrow: Arrow Electronics guides innovation forward for over 220,000 leading technology manufacturers and service providers. With 2022 sales of $37.1 billion, Arrow develops technology solutions that improve business and daily life. Learn more at arrow.com.About Tech Pals: Tech Pals brings technology training and support to older adults and makes a profound impact on their lives by allowing them to embrace the wonders of technology and discover newfound possibilities. Learn more at www.thetechpals.orgStory continuesView additional multimedia and more ESG storytelling from Arrow Electronics on 3blmedia.com.Contact Info:Spokesperson: Arrow ElectronicsWebsite: https://www.3blmedia.com/profiles/arrow-electronicsEmail: [email protected]: Arrow ElectronicsView source version on accesswire.com: https://www.accesswire.com/781820/arrow-electronics-supports-tech-pals-enrich-seniors-lives-through-their-virtual-reality-silver-program

ACCESSWIRE

Arrow Electronics Supports Tech Pals Enrich Seniors Lives through their Virtual Reality Silver Program

https://finance.yahoo.com/news/arrow-electronics-supports-tech-pals-170000431.html

4d70ff45-ed52-35d7-bc6c-84676067fc91

ASLE

CORAL GABLES, Fla., August 21, 2023--(BUSINESS WIRE)--AerSale Corporation (NASDAQ: ASLE) (the "Company"), a leading provider of aviation products and services, announced today that it has successfully completed all certification flight testing for AerAware™, its Enhanced Flight Vision System (EFVS), in coordination with the U.S. Federal Aviation Administration (FAA).Prior to the completion of the final test flight, the FAA approved all modifications to the system and the Company successfully completed its fifth set of test flights on August 19, 2023, which when added to the first four set of flight tests, totaled more than 100 hours of flight time.Nicolas Finazzo, AerSale’s Chief Executive Officer said, "We are pleased to reach this milestone in the development of AerAware, and we look forward to proceeding to Supplemental Type Certification and commercialization of the product."About AerAware™ EFVSAerAware is an EFVS solution that enables commercial aircraft pilots to overcome degraded visibility situations day and night, allowing them to move in and out of airports faster, saving time and increasing operational efficiency and safety. The revolutionary system presents advanced imaging technology along with real-time aircraft primary flight systems data onto an Elbit Systems/Universal Avionics SkyLens™ Head Wearable Display (HWD). SkyLens™ enables pilots to continuously operate heads-up and monitor primary flight information while retaining situational awareness of terrain. This groundbreaking EFVS incorporates multispectral ClearVision™ camera imaging, along with 3D synthetic vision, to provide unprecedented pilot situational awareness when operating AerAware-equipped aircraft in instrument conditions. With AerAware, instrument-approach visual references are revealed significantly earlier to pilots than with natural, out-of-window viewing. This enables pilots to descend below published natural vision instrument approach minimums.Story continuesAbout AerSale®AerSale serves airlines operating large jets manufactured by Boeing, Airbus and McDonnell Douglas and is dedicated to providing integrated aftermarket services and products designed to help aircraft owners and operators to realize significant savings in the operation, maintenance and monetization of their aircraft, engines, and components. AerSale’s offerings include Aircraft & Component MRO, Aircraft and Engine Sales and Leasing, Used Serviceable Material sales, and internally developed ‘Engineered Solutions’ to enhance aircraft performance and operating economics (e.g., AerSafe™, AerTrak™, and now AerAware™).View source version on businesswire.com: https://www.businesswire.com/news/home/20230821814796/en/ContactsMedia:For more information about AerSale, please visit our website:www.AerSale.com.Follow us on: LinkedIn | Twitter | Facebook | InstagramAerSale: Jackie CarlonTelephone: (305) 764-3200Email: [email protected]:AerSale: [email protected]

Business Wire

AerSale® Successfully Completes Certification Flight Testing for the AerAware™ Enhanced Flight Vision System (EFVS)

https://finance.yahoo.com/news/aersale-successfully-completes-certification-flight-205900209.html

86a2a9ff-5899-3d0f-8ae4-572819a9cd60

ASLE

​Iso Nezaj, President of Engineered Solutions, takes over newly created role of Chief Product Development Officer.Ben Tschirhart appointed as President of Engineered Solutions; he served most recently as Vice President, Engineering Solutions at Aviation Technical Services.CORAL GABLES, Fla., August 30, 2023--(BUSINESS WIRE)--AerSale Corporation (NASDAQ: ASLE) (the "Company"), a leading provider of aviation products and services, announced today that it has expanded and strengthened its Engineered Solutions leadership team as the Company enhances its capabilities, allowing for scaling up production and R&D, particularly as AerSale nears the commercialization phase of AerAware™, its Enhanced Flight Vision System (EFVS).Iso Nezaj, the current President of Engineered Solutions, has been appointed to the newly created role of Chief Product Development Officer. Mr. Nezaj will be replaced by Ben Tschirhart as President of Engineered Solutions. Mr. Tschirhart was most recently Vice President, Engineering Solutions at Aviation Technical Services (ATS).Iso Nezaj is a veteran aviation executive with demonstrated leadership ability. In addition to his strong technical and business qualifications, he has an impressive track record of more than 25 years of hands-on experience in strategic planning, business development, project and product management, and system engineering. Mr. Nezaj has served as Chief Technical Officer of AerSale as well as Division President, Engineered Solutions from 2017. Prior to that, he held various leadership roles across Technical Services at AerSale since 2010. Mr. Nezaj joined AerSale after 18 years of aviation experience at Air One Maintenance & Engineering LLC, a US FAR Part 145 certified aircraft repair station and service provider, Commercial Jet Inc., a US FAR Part 145 certified aircraft repair station and service provider, Skytrak International Airlines, Inc., a US FAR Part 121 certified commercial airline, Aeron Equities, Inc., an aircraft leasing company, and Kiwi International Airlines, Inc., a US FAR Part 121 certified commercial airline.Story continuesBen Tschirhart is a seasoned aviation professional with a proven track record of leading large scale and technically complex aerospace development programs across multiple sites, countries, and cultures. He started his career at MTU Aero Engines in Germany and joins AerSale with more than 20 years of experience in the aerospace industry. As Vice President, Engineering Solutions at ATS, a US FAR Part 145 certified repair station and service provider, Mr. Tschirhart was focused on IP generation and product development and sales for Federal Aviation Administration (FAA) certified aircraft products, integrated solutions, and engineering repair and offload services, including parts manufacturer approval (PMA) and supplemental type certificate (STC), as well as non-certificated products. Mr. Tschirhart’s previous roles at ATS include Sr. Director, Business Line Management and Sr. Director, Programs of Engineering Solutions. He also worked at Greenpoint Technologies (now part of Safran) and B/E Aerospace – Flight Structures (now Collins Aerospace) in the US and Lidl Stiftung & Co. KG in Germany before joining ATS.Nicolas Finazzo, AerSale’s Chief Executive Officer, said, "We are excited to welcome Iso to the newly created role of Chief Product Development Officer and Ben to AerSale as the President of our Engineered Solutions division. Iso has been part of the AerSale team since 2010 and is a veteran of the Company and industry. He has excelled in his prior roles and is the best fit for this new position. As Chief Product Development Officer, Iso will be responsible for managing the process of innovation within the organization and will focus on identifying business opportunities for new product development including Supplemental Type Certificates. Ben is a highly skilled aviation expert with a strong track record having led a team of more than 30 high-performing professionals including sales, engineering, certification, supply chain, and product support at ATS."Mr. Finazzo continued, "It’s an exciting time for AerSale. The expansion of our Engineered Solutions leadership team will help drive continued growth and value creation for aircraft owners and operators. With our talented team, we look to further develop our engineering product portfolio by expanding our innovation pipeline."About AerSale®AerSale serves airlines operating large jets manufactured by Boeing, Airbus and McDonnell Douglas and is dedicated to providing integrated aftermarket services and products designed to help aircraft owners and operators to realize significant savings in the operation, maintenance and monetization of their aircraft, engines, and components. AerSale’s offerings include Aircraft & Component MRO, Aircraft and Engine Sales and Leasing, Used Serviceable Material sales, and internally developed ‘Engineered Solutions’ to enhance aircraft performance and operating economics (e.g., AerSafe™, AerTrak™, and now AerAware™).View source version on businesswire.com: https://www.businesswire.com/news/home/20230830718743/en/ContactsMedia: For more information about AerSale, please visit our website:www.AerSale.com.Follow us on: LinkedIn | Twitter | Facebook | InstagramAerSale: Jackie CarlonTelephone: (305) 764-3200Email: [email protected]: AerSale:[email protected]

Business Wire

AerSale Expands and Strengthens Engineered Solutions Leadership Team

https://finance.yahoo.com/news/aersale-expands-strengthens-engineered-solutions-120000710.html

c3274c36-73fe-3375-ab9f-372b44da2b64

ASPS

On September 8, 2023, Michelle Esterman, the CFO of Altisource Portfolio Solutions SA (NASDAQ:ASPS), made a significant insider purchase of 13,889 shares of the company's stock. This move is noteworthy and deserves a closer look by investors and market watchers.Warning! GuruFocus has detected 5 Warning Signs with ASPS. Click here to check it out. ASPS 30-Year Financial DataThe intrinsic value of ASPSMichelle Esterman is a seasoned financial executive with a wealth of experience in the financial services industry. As the CFO of Altisource Portfolio Solutions SA, she is responsible for the company's financial strategy and operations, including financial planning, budgeting, and financial risk management. Her insider purchase of ASPS shares is a strong vote of confidence in the company's future prospects.Altisource Portfolio Solutions SA is a premier marketplace and transaction solutions provider for the real estate, mortgage, and consumer debt industries. The company's innovative services and technologies empower businesses to navigate the complex, rapidly changing marketplace environment and drive their success.Over the past year, the insider has purchased a total of 13,889 shares and sold 0 shares. This trend indicates a strong belief in the company's future performance and growth potential.Insider Buying: CFO Michelle Esterman Acquires 13,889 Shares of Altisource Portfolio Solutions SA (ASPS)The insider transaction history for Altisource Portfolio Solutions SA shows a total of 4 insider buys over the past year, with no insider sells over the same timeframe. This trend suggests that insiders at the company are bullish about its future prospects.On the day of the insider's recent buy, shares of Altisource Portfolio Solutions SA were trading for $3.6 apiece, giving the stock a market cap of $82.838 million. With a price of $3.6 and a GuruFocus Value of $5.14, Altisource Portfolio Solutions SA has a price-to-GF-Value ratio of 0.7. This suggests that the stock is modestly undervalued based on its GF Value.Story continuesInsider Buying: CFO Michelle Esterman Acquires 13,889 Shares of Altisource Portfolio Solutions SA (ASPS)The GF Value is an intrinsic value estimate developed by GuruFocus. It is calculated based on historical multiples (price-earnings ratio, price-sales ratio, price-book ratio, and price-to-free cash flow) that the stock has traded at, a GuruFocus adjustment factor based on the companys past returns and growth, and future estimates of business performance from Morningstar analysts.In conclusion, the insider's recent purchase of Altisource Portfolio Solutions SA shares, coupled with the stock's modest undervaluation based on its GF Value, suggests that the stock could be an attractive investment opportunity. However, as always, potential investors should conduct their own due diligence before making investment decisions.This article first appeared on GuruFocus.

GuruFocus.com

Insider Buying: CFO Michelle Esterman Acquires 13,889 Shares of Altisource Portfolio Solutions ...

https://finance.yahoo.com/news/insider-buying-cfo-michelle-esterman-090101315.html

f15617dd-bdbf-3cd4-9696-0611d29b3032

ASPS

Potential Altisource Portfolio Solutions S.A. (NASDAQ:ASPS) shareholders may wish to note that the Chairman of the Board & CEO, William Shepro, recently bought US$150k worth of stock, paying US$3.60 for each share. While that's a very decent purchase to our minds, it was proportionally a bit modest, boosting their holding by just 6.5%. See our latest analysis for Altisource Portfolio Solutions Altisource Portfolio Solutions Insider Transactions Over The Last YearIn the last twelve months, the biggest single purchase by an insider was when insider James Hoak bought US$2.5m worth of shares at a price of US$5.00 per share. That means that even when the share price was higher than US$3.97 (the recent price), an insider wanted to purchase shares. While their view may have changed since the purchase was made, this does at least suggest they have had confidence in the company's future. We always take careful note of the price insiders pay when purchasing shares. It is generally more encouraging if they paid above the current price, as it suggests they saw value, even at higher levels.While Altisource Portfolio Solutions insiders bought shares during the last year, they didn't sell. You can see the insider transactions (by companies and individuals) over the last year depicted in the chart below. If you click on the chart, you can see all the individual transactions, including the share price, individual, and the date!insider-trading-volumeAltisource Portfolio Solutions is not the only stock that insiders are buying. For those who like to find winning investments this free list of growing companies with recent insider purchasing, could be just the ticket.Does Altisource Portfolio Solutions Boast High Insider Ownership?Another way to test the alignment between the leaders of a company and other shareholders is to look at how many shares they own. A high insider ownership often makes company leadership more mindful of shareholder interests. Insiders own 16% of Altisource Portfolio Solutions shares, worth about US$13m. While this is a strong but not outstanding level of insider ownership, it's enough to indicate some alignment between management and smaller shareholders.Story continuesSo What Does This Data Suggest About Altisource Portfolio Solutions Insiders?The recent insider purchases are heartening. And an analysis of the transactions over the last year also gives us confidence. But on the other hand, the company made a loss during the last year, which makes us a little cautious. Insiders likely see value in Altisource Portfolio Solutions shares, given these transactions (along with notable insider ownership of the company). So while it's helpful to know what insiders are doing in terms of buying or selling, it's also helpful to know the risks that a particular company is facing. For example, Altisource Portfolio Solutions has 4 warning signs (and 1 which is a bit concerning) we think you should know about.If you would prefer to check out another company -- one with potentially superior financials -- then do not miss this free list of interesting companies, that have HIGH return on equity and low debt.For the purposes of this article, insiders are those individuals who report their transactions to the relevant regulatory body. We currently account for open market transactions and private dispositions of direct interests only, but not derivative transactions or indirect interests.Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

Simply Wall St.

William Shepro Bought 6.5% More Shares In Altisource Portfolio Solutions

https://finance.yahoo.com/news/william-shepro-bought-6-5-122654788.html

59f3065a-322b-3975-9f20-38f387715ad0

ASR

Passenger traffic increased year-on-year by 7.8% in Mexico and 26.7% in Puerto Rico and decreased 16.7% in ColombiaMEXICO CITY, Aug. 7, 2023 /PRNewswire/ -- Grupo Aeroportuario del Sureste, S.A.B. de C.V.  (NYSE: ASR; BMV: ASUR), ASUR, a leading international airport group with operations in Mexico, the U.S. and Colombia, today announced that passenger traffic for July 2023 reached a total of 6.5 million passengers, 4.9% above the levels reported in June 2022.Passenger traffic increased 7.8% year-on-year in Mexico and 26.7% in Puerto Rico, while Colombia posted a 16.7% decrease. Passenger traffic growth in Mexico and Puerto Rico was mainly driven by increases of 13.3% and 24.7% in domestic traffic and 3.0% and 41.7% in international traffic, respectively. Passenger traffic in Colombia was negatively affected by the suspension of operations of two local airlines since early 2023.This announcement reflects comparisons between the periods July 1 through July 31, 2023 and 2022. Transit and general aviation passengers are excluded from traffic measures in Mexico and Colombia.Passenger Traffic SummaryJuly% ChgYear to date% Chg2022202320222023Mexico3,697,9463,987,3757.822,535,82725,758,49714.3Domestic Traffic1,743,9331,975,30513.310,008,29512,024,72920.1International Traffic1,954,0132,012,0703.012,527,53213,733,7689.6San Juan, Puerto Rico1,006,7221,275,21626.76,180,9367,381,11319.4Domestic Traffic892,5091,113,32024.75,647,5476,606,07517.0International Traffic114,213161,89641.7533,389775,03845.3Colombia1,519,4451,265,600(16.7)9,198,3778,540,528(7.2)Domestic Traffic1,244,324995,418(20.0)7,711,6036,894,598(10.6)International Traffic275,121270,182(1.8)1,486,7741,645,93010.7Total Traffic6,224,1136,528,1914.937,915,14041,680,1389.9Domestic Traffic3,880,7664,084,0435.223,367,44525,525,4029.2International Traffic2,343,3472,444,1484.314,547,69516,154,73611.0 Story continuesMexico Passenger Traffic July% ChgYear to date% Chg2022202320222023Domestic Traffic1,743,9331,975,30513.310,008,29512,024,72920.1CUNCancun1,036,2081,118,6558.05,677,0556,721,71718.4CZMCozumel17,19324,04039.891,944101,96710.9HUXHuatulco83,97371,528(14.8)507,760497,825(2.0)MIDMerida238,365288,07420.91,455,6671,900,81330.6MTTMinatitlan9,90812,27623.955,58971,98829.5OAXOaxaca103,616147,58842.4594,830811,98636.5TAPTapachula43,52149,50613.8278,146296,6486.7VERVeracruz111,441150,02434.6690,954874,43726.6VSAVillahermosa99,708113,61413.9656,350747,34813.9International Traffic1,954,0132,012,0703.012,527,53213,733,7689.6CUNCancun1,840,2381,898,6423.211,814,37912,934,1449.5CZMCozumel53,46742,172(21.1)309,759309,7730.0HUXHuatulco3,4432,192(36.3)62,07577,29924.5MIDMerida24,41228,44016.5149,333197,53932.3MTTMinatitlan1,220887(27.3)6,7004,835(27.8)OAXOaxaca17,98625,17340.0108,463126,80516.9TAPTapachula1,1651,48227.27,63610,92543.1VERVeracruz9,43310,0446.553,10956,3756.1VSAVillahermosa2,6493,03814.716,07816,073(0.0)Traffic Total Mexico3,697,9463,987,3757.822,535,82725,758,49714.3CUNCancun2,876,4463,017,2974.917,491,43419,655,86112.4CZMCozumel70,66066,212(6.3)401,703411,7402.5HUXHuatulco87,41673,720(15.7)569,835575,1240.9MIDMerida262,777316,51420.41,605,0002,098,35230.7MTTMinatitlan11,12813,16318.362,28976,82323.3OAXOaxaca121,602172,76142.1703,293938,79133.5TAPTapachula44,68650,98814.1285,782307,5737.6VERVeracruz120,874160,06832.4744,063930,81225.1VSAVillahermosa102,357116,65214.0672,428763,42113.5 US Passenger Traffic, San Juan Airport (LMM)July% ChgYear to date% Chg2022202320222023SJU Total1,006,7221,275,21626.76,180,9367,381,11319.4Domestic Traffic892,5091,113,32024.75,647,5476,606,07517.0International Traffic114,213161,89641.7533,389775,03845.3 Passenger Traffic, Colombia Airplan  July% ChgYear to date% Chg2022202320222023Domestic Traffic1,244,324995,418(20.0)7,711,6036,894,598(10.6)MDERionegro919,160728,744(20.7)5,706,2995,137,010(10.0)EOHMedellín112,926113,1920.2701,259682,134(2.7)MTRMTR Montería144,482103,118(28.6)895,147740,937(17.2)APOCarepa24,27816,948(30.2)155,325117,789(24.2)UIBQuibdo33,87631,330(7.5)206,236202,645(1.7)CZUCorozal9,6022,086(78.3)47,33714,083(70.2)International Traffic275,121270,182(1.8)1,486,7741,645,93010.7MDERionegro275,121270,182(1.8)1,486,7741,645,93010.7ECHMedellín--MTRMonteríaAPOCarepaUIBQuibdoCZUCorozalTotal Traffic Colombia1,519,4451,265,600(16.7)9,198,3778,540,528(7.2)MDERionegro1,194,281998,926(16.4)7,193,0736,782,940(5.7)EOHMedellín112,926113,1920.2701,259682,134(2.7)MTRMontería144,482103,118(28.6)895,147740,937(17.2)APOCarepa24,27816,948(30.2)155,325117,789(24.2)UIBQuibdo33,87631,330(7.5)206,236202,645(1.7)CZUCorozal9,6022,086(78.3)47,33714,083(70.2) About ASURGrupo Aeroportuario del Sureste, S.A.B. de C.V. (ASUR) is a leading international airport operator with a portfolio of concessions to operate, maintain and develop 16 airports in the Americas. This comprises nine airports in southeast Mexico, including Cancun Airport, the most important tourist destination in Mexico, the Caribbean and Latin America, and six airports in northern Colombia, including Medellin international airport (Rio Negro), the second busiest in Colombia. ASUR is also a 60% JV partner in Aerostar Airport Holdings, LLC, operator of the Luis Muñoz Marín International Airport serving the capital of Puerto Rico, San Juan. San Juan's Airport is the island's primary gateway for international and mainland-US destinations and was the first, and currently the only major airport in the US to have successfully completed a public–private partnership under the FAA Pilot Program. Headquartered in Mexico, ASUR is listed both on the Mexican Bolsa, where it trades under the symbol ASUR, and on the NYSE in the U.S., where it trades under the symbol ASR. One ADS represents ten (10) series B shares. For more information, visit www.asur.com.mx.CisionView original content:https://www.prnewswire.com/news-releases/asur-announces-total-passenger-traffic-for-july-2023-301894950.htmlSOURCE Grupo Aeroportuario del Sureste, S.A.B. de C.V.

PR Newswire

ASUR Announces Total Passenger Traffic for July 2023

https://finance.yahoo.com/news/asur-announces-total-passenger-traffic-213000352.html

d31acbc4-14a0-3be7-99ef-91505aa27959

ASR

Passenger traffic increased year-on-year by 5.9% in Mexico and 23.2% in Puerto Rico and decreased 13.0% in ColombiaMEXICO CITY, Sept. 5, 2023 /PRNewswire/ -- Grupo Aeroportuario del Sureste, S.A.B. de C.V.  (NYSE: ASR; BMV: ASUR), ASUR, a leading international airport group with operations in Mexico, the U.S. and Colombia, today announced that passenger traffic for August 2023 reached a total of 6.2 million passengers, 3.8% above the levels reported in August 2022.Passenger traffic increased year-on-year by 5.9% in Mexico and 23.2% in Puerto Rico and declined 13.0% in Colombia. Passenger traffic growth in Mexico and Puerto Rico was mainly driven by increases in domestic traffic of 13.0% and 21.8%, respectively, together with a 37.4% increase in international traffic in Puerto Rico, partially offset by a 1.3% decrease in Mexico. Passenger traffic in Colombia remained negatively affected by the suspension of operations of two local airlines since the beginning of 2023.This announcement reflects comparisons between the periods August 1 through August 31, 2023, and 2022. Transit and general aviation passengers are excluded from traffic measures in Mexico and Colombia.Passenger Traffic SummaryAugust% ChgYear to date% Chg2022202320222023Mexico3,543,2523,752,8515.926,079,07929,511,34813.2Domestic Traffic1,791,6662,024,36213.011,799,96114,049,09119.1International Traffic1,751,5861,728,489(1.3)14,279,11815,462,2578.3San Juan, Puerto Rico905,6781,116,21623.27,086,6148,497,32919.9Domestic Traffic819,719998,10021.86,467,2667,604,17517.6International Traffic85,959118,11637.4619,348893,15444.2Colombia1,483,7641,291,587(13.0)10,682,1419,832,115(8.0)Domestic Traffic1,210,8031,020,110(15.7)8,922,4067,914,708(11.3)International Traffic272,961271,477(0.5)1,759,7351,917,4079.0Total Traffic5,932,6946,160,6543.843,847,83447,840,7929.1Domestic Traffic3,822,1884,042,5725.827,189,63329,567,9748.7International Traffic2,110,5062,118,0820.416,658,20118,272,8189.7 Story continuesMexico Passenger Traffic August% ChgYear to date% Chg2022202320222023Domestic Traffic1,791,6662,024,36213.011,799,96114,049,09119.1CUNCancun1,072,3631,153,6217.66,749,4187,875,33816.7CZMCozumel23,28424,6866.0115,228126,6539.9HUXHuatulco79,47268,883(13.3)587,232566,708(3.5)MIDMerida254,273297,97417.21,709,9402,198,78728.6MTTMinatitlan10,07913,39632.965,66885,38430.0OAXOaxaca94,729144,33752.4689,559956,32338.7TAPTapachula38,98950,51029.5317,135347,1589.5VERVeracruz112,382152,18535.4803,3361,026,62227.8VSAVillahermosa106,095118,77011.9762,445866,11813.6International Traffic1,751,5861,728,489(1.3)14,279,11815,462,2578.3CUNCancun1,653,4041,636,287(1.0)13,467,78314,570,4318.2CZMCozumel39,03528,344(27.4)348,794338,117(3.1)HUXHuatulco2,1651,938(10.5)64,24079,23723.3MIDMerida23,57925,7789.3172,912223,31729.2MTTMinatitlan1,562776(50.3)8,2625,611(32.1)OAXOaxaca18,07021,36718.2126,533148,17217.1TAPTapachula1,7361,327(23.6)9,37212,25230.7VERVeracruz9,4649,9925.662,57366,3676.1VSAVillahermosa2,5712,6804.218,64918,7530.6Traffic Total Mexico3,543,2523,752,8515.926,079,07929,511,34813.2CUNCancun2,725,7672,789,9082.420,217,20122,445,76911.0CZMCozumel62,31953,030(14.9)464,022464,7700.2HUXHuatulco81,63770,821(13.2)651,472645,945(0.8)MIDMerida277,852323,75216.51,882,8522,422,10428.6MTTMinatitlan11,64114,17221.773,93090,99523.1OAXOaxaca112,799165,70446.9816,0921,104,49535.3TAPTapachula40,72551,83727.3326,507359,41010.1VERVeracruz121,846162,17733.1865,9091,092,98926.2VSAVillahermosa108,666121,45011.8781,094884,87113.3 US Passenger Traffic, San Juan Airport (LMM)August% ChgYear to date% Chg2022202320222023SJU Total905,6781,116,21623.27,086,6148,497,32919.9Domestic Traffic819,719998,10021.86,467,2667,604,17517.6International Traffic85,959118,11637.4619,348893,15444.2 Colombia Passenger Traffic AirplanAugust% ChgYear to date% Chg2022202320222023Domestic Traffic1,210,8031,020,110(15.7)8,922,4067,914,708(11.3)MDERionegro905,638749,341(17.3)6,611,9375,886,351(11.0)EOHMedellin113,985118,9204.3815,244801,054(1.7)MTRMonteria134,785103,063(23.5)1,029,932844,000(18.1)APOCarepa22,88716,849(26.4)178,212134,638(24.5)UIBQuibdo32,16029,880(7.1)238,396232,525(2.5)CZUCorozal1,3482,05752.648,68516,140(66.8)International Traffic272,961271,477(0.5)1,759,7351,917,4079.0MDERionegro272,961271,477(0.5)1,759,7351,917,4079.0EOHMedellinMTRMonteria----APOCarepa----UIBQuibdo----CZUCorozal----Traffic Total Colombia1,483,7641,291,587(13.0)10,682,1419,832,115(8.0)MDERionegro1,178,5991,020,818(13.4)8,371,6727,803,758(6.8)EOHMedellin113,985118,9204.3815,244801,054(1.7)MTRMonteria134,785103,063(23.5)1,029,932844,000(18.1)APOCarepa22,88716,849(26.4)178,212134,638(24.5)UIBQuibdo32,16029,880(7.1)238,396232,525(2.5)CZUCorozal1,3482,05752.648,68516,140(66.8)About ASURGrupo Aeroportuario del Sureste, S.A.B. de C.V. (ASUR) is a leading international airport operator with a portfolio of concessions to operate, maintain and develop 16 airports in the Americas. This comprises nine airports in southeast Mexico, including Cancun Airport, the most important tourist destination in Mexico, the Caribbean and Latin America, and six airports in northern Colombia, including Medellin international airport (Rio Negro), the second busiest in Colombia. ASUR is also a 60% JV partner in Aerostar Airport Holdings, LLC, operator of the Luis Muñoz Marín International Airport serving the capital of Puerto Rico, San Juan. San Juan's Airport is the island's primary gateway for international and mainland-US destinations and was the first, and currently the only major airport in the US to have successfully completed a public–private partnership under the FAA Pilot Program. Headquartered in Mexico, ASUR is listed both on the Mexican Bolsa, where it trades under the symbol ASUR, and on the NYSE in the U.S., where it trades under the symbol ASR. One ADS represents ten (10) series B shares. For more information, visit www.asur.com.mx.CisionView original content:https://www.prnewswire.com/news-releases/asur-announces-total-passenger-traffic-for-august-2023-301918347.htmlSOURCE Grupo Aeroportuario del Sureste, S.A.B. de C.V.

PR Newswire

ASUR Announces Total Passenger Traffic for August 2023

https://finance.yahoo.com/news/asur-announces-total-passenger-traffic-213000753.html

4463584a-6436-3b6e-9278-8ac73d4307f4

ASST

Asset Entities Inc.DALLAS, Aug. 03, 2023 (GLOBE NEWSWIRE) -- Asset Entities Inc. (NASDAQ: ASST) (the “Company” or “Asset Entities”), a provider of digital marketing and content delivery services across Discord and other social media platforms, announces that Matchbox Twenty has chosen Asset Entities to Design, Develop, and Manage its server on the Discord social community platform. Matchbox Twenty, the Multi-Platinum Band, whose career has generated sales of over 40 million records worldwide, attracts a massive following across all age groups from 7 to 70.“Matchbox Twenty has decided to join the future of fan engagement via Discord to create its digital fan community, and the band chose to do it with Asset Entities. As we continue to grow our audience, we want to partner with the best in the game and when it comes to a new platform like Discord, Asset Entities is just that," said Nick Lippman, Manager of Matchbox Twenty.To join Matchbox Twenty’s new Discord where you can interact with Eddie the AI Rock Bot, go to https://Discord.gg/matchboxtwenty.Jeff Blue, Asset Entities Head of Entertainment, who has a professional relationship with Lippman and the band which spans multiple decades, said, “When I met the guys in 1996, they were called Tabitha’s Secret. I felt their authenticity and incredible song writing would be legendary. Working with Matchbox Twenty is a fantastic opportunity for both Asset Entities and Matchbox Twenty, as Asset Entities further expands its objective of connecting and influencing today’s younger generations.” Blue went on to say, “Matchbox Twenty has built its legacy making a significant impact on the world with amazing hits like “Push” and “3AM.” It is impossible not to hum along (or even sing aloud) to generational anthems that also include smashes such as “Unwell,” “Bent,” “If You’re Gone,” and “How Far we’ve Come.” Matchbox Twenty is one of the first major recording artists we are bringing to Discord as part of our Asset Entertainment initiative, and we are extremely excited about this new chapter of our relationship with Nick and Matchbox Twenty.”Story continuesMatchbox Twenty has quietly woven their songs into the very fabric of American popular culture. The band has sold over 40 million records worldwide, dominated charts, garnered multiple GRAMMY Award nominations, and played to millions of fans in arenas, amphitheaters, and stadiums across continents.Earning hits in each of the last three decades, Matchbox Twenty has gone from perennially dominating radio airwaves and ruling MTV to piling up streams in the billions, speaking to the enduring appeal of their music. Fueled by such classic songs as “Real World,” “Back 2 Good” and the No. 1 smash hits “Push” and “3AM,” 1996’s Diamond-certified Yourself or Someone Like You proved a worldwide sensation and instantly established the band as global superstars. 2000 saw the band release the four-times Platinum Mad Season, containing the No. 1 singles “Bent” and “If You’re Gone.” Their third release, More Than You Think You Are, also was certified double-Platinum and featured the No. 1 hit, “Unwell.” 2007’s greatest hits compilation album with six new songs, “Exile On Mainstream” yielded yet another No. 1 track, “How Far We’ve Come,” while 2012’s North, exploded into the top position on the Billboard 200 release – Matchbox Twenty’s first-ever chart-topper and No. 1 debut.Now nearly eleven years later, the band sounds refreshed as ever on Where The Light Goes, benefiting from the musicians’ respective solo journeys. Rob Thomas has proven one of the most highly decorated artists of recent years – releasing five solo albums and receiving three GRAMMY Awards, 11 BMI Awards, the first-ever Songwriters Hall of Fame Hal David Starlight Award, two Billboard "Songwriter of the Year" honors, and top 5 placement on Billboard’s Top 20 Hot 100 Songwriters (2000-2011). Meanwhile, Paul Doucette has scored and contributed original music to film and television series such as Utopia, For All Mankind, and more.Matchbox Twenty’s song “Push,” provides for a familiar and entertaining experience for fans. For the music video for the song, “Push”, visit: https://www.youtube.com/watch?app=desktop&v=HAkHqYlqops)To learn about the AE.360.DDM suite of services, go to ae360ddm.com or https://discord.gg/ae360ddm.To learn about Matchbox Twenty, see upcoming tour dates, and purchase their merchandise, visit: https://matchboxtwenty.com/About Asset EntitiesAsset Entities Inc. is a technology company providing social media marketing, management and content delivery across Discord, TikTok, Instagram, Twitter, and YouTube and other social media platforms. Asset Entities is believed to be the first publicly-traded Company based on the Discord platform, where it hosts some of Discord’s largest social community-based education and entertainment servers.The Company’s AE.360.DDM suite of services is believed to be the first of its kind for the Design, Development and Management of Discord community servers. Asset Entities’ initial AE.360.DDM customers have included businesses and celebrities.The Company’s Social Influencer Network (SiN) service offers white-label marketing, content creation, content management, TikTok promotions, and TikTok consulting to clients in all industries and markets. The Company’s SiN influencers can increase the social media reach of client Discord servers and drives traffic to their businesses.Learn more at assetentities.com, and follow the Company on Twitter at $ASST and @assetentities.Important Cautions Regarding Forward Looking StatementsThis press release contains forward-looking statements. In addition, from time to time, representatives of the Company may make forward-looking statements orally or in writing. These forward-looking statements are based on expectations and projections about future events, which are derived from the information currently available to the “Company. Such forward-looking statements relate to future events or the Company’s future performance, including its financial performance and projections, growth in revenue and earnings, and business prospects and opportunities. Forward-looking statements can be identified by those statement that are not historical in nature, particularly those that use terminology such as "may," "should," "expects," "anticipates," "contemplates," "estimates," "believes," "plans," "projected," "predicts," "potential," or "hopes" or the negative of these or similar terms. In evaluating these forward-looking statements, you should consider various factors, including: (i) the Company’s limited operating history; (ii) the Company’s ability to introduce new products and services; (iii) regulatory and compliance requirements; (iv) the effect of the COVID-19 pandemic on the Company and its current or intended markets; and (v) other risks and uncertainties described herein, as well as those risks and uncertainties that are described more fully in the section titled “Risk Factors” in the final prospectus related to the initial public offering filed with the SEC and other reports filed with the SEC thereafter. These and other factors may cause the Company’s actual results to differ materially from any forward-looking statement. Forward-looking statements are only predictions. The forward-looking statements contained in this press release are made as of the date of this press release, and the Company does not undertake any responsibility to update the forward-looking statements in this release, except in accordance with applicable law.Company Contacts:Arshia Sarkhani, President and Chief Executive OfficerMichael Gaubert, Executive ChairmanAsset Entities Inc.Tel +1 (214) 459-3117        Email ContactInvestor Contact:Skyline Corporate Communications Group, LLCScott Powell, PresidentOne Rockefeller Plaza, 11th FloorNew York, NY 10020Office: (646) 893-5835Email: [email protected]

GlobeNewswire

Iconic Multi-Platinum Band -- Matchbox Twenty -- Selects Asset Entities to Design, Develop, and Manage The Band’s Discord Community

https://finance.yahoo.com/news/iconic-multi-platinum-band-matchbox-120000578.html

ac546885-6bf9-3bc2-92ac-e49020451930

ASST

Asset Entities Inc.Matchbox Twenty & Asset EntitiesRob Thomas (Lead Singer, Matchbox Twenty), Jeff Blue (Head of Entertainment, Asset Entities)DALLAS, Aug. 03, 2023 (GLOBE NEWSWIRE) -- Asset Entities Inc. (NASDAQ: ASST) (the “Company” or “Asset Entities”), a provider of digital marketing and content delivery services across Discord and other social media platforms, announces that Matchbox Twenty has chosen Asset Entities to Design, Develop, and Manage its server on the Discord social community platform. Matchbox Twenty, the Multi-Platinum Band, whose career has generated sales of over 40 million records worldwide, attracts a massive following across all age groups from 7 to 70.“Matchbox Twenty has decided to join the future of fan engagement via Discord to create its digital fan community, and the band chose to do it with Asset Entities. As we continue to grow our audience, we want to partner with the best in the game and when it comes to a new platform like Discord, Asset Entities is just that," said Nick Lippman, Manager of Matchbox Twenty.To join Matchbox Twenty’s new Discord where you can interact with Eddie the AI Rock Bot, go to https://Discord.gg/matchboxtwenty.Jeff Blue, Asset Entities Head of Entertainment, who has a professional relationship with Lippman and the band which spans multiple decades, said, “When I met the guys in 1996, they were called Tabitha’s Secret. I felt their authenticity and incredible song writing would be legendary. Working with Matchbox Twenty is a fantastic opportunity for both Asset Entities and Matchbox Twenty, as Asset Entities further expands its objective of connecting and influencing today’s younger generations.” Blue went on to say, “Matchbox Twenty has built its legacy making a significant impact on the world with amazing hits like “Push” and “3AM.” It is impossible not to hum along (or even sing aloud) to generational anthems that also include smashes such as “Unwell,” “Bent,” “If You’re Gone,” and “How Far we’ve Come.” Matchbox Twenty is one of the first major recording artists we are bringing to Discord as part of our Asset Entertainment initiative, and we are extremely excited about this new chapter of our relationship with Nick and Matchbox Twenty.”Story continuesMatchbox Twenty has quietly woven their songs into the very fabric of American popular culture. The band has sold over 40 million records worldwide, dominated charts, garnered multiple GRAMMY Award nominations, and played to millions of fans in arenas, amphitheaters, and stadiums across continents.Earning hits in each of the last three decades, Matchbox Twenty has gone from perennially dominating radio airwaves and ruling MTV to piling up streams in the billions, speaking to the enduring appeal of their music. Fueled by such classic songs as “Real World,” “Back 2 Good” and the No. 1 smash hits “Push” and “3AM,” 1996’s Diamond-certified Yourself or Someone Like You proved a worldwide sensation and instantly established the band as global superstars. 2000 saw the band release the four-times Platinum Mad Season, containing the No. 1 singles “Bent” and “If You’re Gone.” Their third release, More Than You Think You Are, also was certified double-Platinum and featured the No. 1 hit, “Unwell.” 2007’s greatest hits compilation album with six new songs, “Exile On Mainstream” yielded yet another No. 1 track, “How Far We’ve Come,” while 2012’s North, exploded into the top position on the Billboard 200 release – Matchbox Twenty’s first-ever chart-topper and No. 1 debut.Now nearly eleven years later, the band sounds refreshed as ever on Where The Light Goes, benefiting from the musicians’ respective solo journeys. Rob Thomas has proven one of the most highly decorated artists of recent years – releasing five solo albums and receiving three GRAMMY Awards, 11 BMI Awards, the first-ever Songwriters Hall of Fame Hal David Starlight Award, two Billboard "Songwriter of the Year" honors, and top 5 placement on Billboard’s Top 20 Hot 100 Songwriters (2000-2011). Meanwhile, Paul Doucette has scored and contributed original music to film and television series such as Utopia, For All Mankind, and more.Matchbox Twenty’s song “Push,” provides for a familiar and entertaining experience for fans. For the music video for the song, “Push”, visit: https://www.youtube.com/watch?app=desktop&v=HAkHqYlqops)To learn about the AE.360.DDM suite of services, go to ae360ddm.com or https://discord.gg/ae360ddm.To learn about Matchbox Twenty, see upcoming tour dates, and purchase their merchandise, visit: https://matchboxtwenty.com/About Asset EntitiesAsset Entities Inc. is a technology company providing social media marketing, management and content delivery across Discord, TikTok, Instagram, Twitter, and YouTube and other social media platforms. Asset Entities is believed to be the first publicly-traded Company based on the Discord platform, where it hosts some of Discord’s largest social community-based education and entertainment servers.The Company’s AE.360.DDM suite of services is believed to be the first of its kind for the Design, Development and Management of Discord community servers. Asset Entities’ initial AE.360.DDM customers have included businesses and celebrities.The Company’s Social Influencer Network (SiN) service offers white-label marketing, content creation, content management, TikTok promotions, and TikTok consulting to clients in all industries and markets. The Company’s SiN influencers can increase the social media reach of client Discord servers and drives traffic to their businesses.Learn more at assetentities.com, and follow the Company on Twitter at $ASST and @assetentities.Important Cautions Regarding Forward Looking StatementsThis press release contains forward-looking statements. In addition, from time to time, representatives of the Company may make forward-looking statements orally or in writing. These forward-looking statements are based on expectations and projections about future events, which are derived from the information currently available to the “Company. Such forward-looking statements relate to future events or the Company’s future performance, including its financial performance and projections, growth in revenue and earnings, and business prospects and opportunities. Forward-looking statements can be identified by those statement that are not historical in nature, particularly those that use terminology such as "may," "should," "expects," "anticipates," "contemplates," "estimates," "believes," "plans," "projected," "predicts," "potential," or "hopes" or the negative of these or similar terms. In evaluating these forward-looking statements, you should consider various factors, including: (i) the Company’s limited operating history; (ii) the Company’s ability to introduce new products and services; (iii) regulatory and compliance requirements; (iv) the effect of the COVID-19 pandemic on the Company and its current or intended markets; and (v) other risks and uncertainties described herein, as well as those risks and uncertainties that are described more fully in the section titled “Risk Factors” in the final prospectus related to the initial public offering filed with the SEC and other reports filed with the SEC thereafter. These and other factors may cause the Company’s actual results to differ materially from any forward-looking statement. Forward-looking statements are only predictions. The forward-looking statements contained in this press release are made as of the date of this press release, and the Company does not undertake any responsibility to update the forward-looking statements in this release, except in accordance with applicable law.Company Contacts:Arshia Sarkhani, President and Chief Executive OfficerMichael Gaubert, Executive ChairmanAsset Entities Inc.Tel +1 (214) 459-3117        Email ContactInvestor Contact:Skyline Corporate Communications Group, LLCScott Powell, PresidentOne Rockefeller Plaza, 11th FloorNew York, NY 10020Office: (646) 893-5835Email: [email protected] photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/8af8bff4-eaa9-4419-8a43-b60bd5142317

GlobeNewswire

MEDIA UPDATE -- Iconic Multi-Platinum Band -- Matchbox Twenty -- Selects Asset Entities to Design, Develop, and Manage The Band’s Discord Community

https://finance.yahoo.com/news/media-iconic-multi-platinum-band-173800238.html

c8902837-d348-3490-8fdc-5efd6a52f6c9

ASTR

ALAMEDA, Calif., August 14, 2023--(BUSINESS WIRE)--Astra Space, Inc. ("Astra") (Nasdaq: ASTR) today announced financial results for its second quarter ended June 30, 2023.Astra also announced on August 4, 2023 a strategic near-term prioritization of the Astra Spacecraft Engines™ business, including a reallocation of approximately 50 engineering and manufacturing personnel from Launch Services to Space Products, spanning both permanent and temporary reassignments to support specific customer programs and to increase Astra Spacecraft Engine™ production and test capacity through the end of the year."We remain intensely focused on near-term deliveries of Astra Spacecraft Engines™ to our customers and have made difficult but necessary decisions to enable these efforts. I believe our existing organization can support a sustainable business going forward," said Chris Kemp, Founder, Chairman and CEO.Astra’s Launch Services business will continue to focus on the development of Rocket 4 and servicing new and existing launch contracts, including the contracts announced earlier this year with the U.S. Space Force and Defense Innovation Unit, among others.In Q2 2023, Astra continued to closely manage its financial runway and evaluate strategic opportunities in support of a long-term sustainable growth strategy across both Space Products and Launch Services."We were excited to announce on August 4, 2023 the closing of a Senior Secured Notes offering, which, when combined with our existing ATM, represents a broad financing strategy and demonstrates our ability to access the capital markets when needed. We also continue to reduce operating expenses, including a 52% decrease in G&A Expenses quarter over quarter. We expect additional savings of approximately $4 million per quarter starting in Q4 based on the strategic reallocation of resources announced earlier this month. As a result, we expect further reductions in quarterly cash burn throughout the remainder of the year," said CFO, Axel Martinez.Story continuesRecent Business Highlights:Announced the first 4 shipments of Astra Spacecraft Engines™ out of Sunnyvale spacecraft engine manufacturing facilityAnnounced the completion of approximately 77% of non-delivery customer milestones related to Astra Spacecraft Engines™Completed the Service Readiness Review (SRR) for Astra's Space Force STP-29B missionAnnounced the closing of a Senior Secured Notes facility offering and ATM programSecond Quarter 2023 Financial Highlights:For the three months ended June 30, 2023:GAAP Gross Profit was $0.3 millionGAAP Net Loss was $14.0 millionAdjusted Net Loss* was $33.7 millionAdjusted EBITDA Loss* was $33.1 millionCapital expenditures during the quarter totaled $3.2 millionCash, cash equivalents and marketable securities totaled $26.3 million_________*Denotes Non-GAAP financial measure. Refer to "Explanation of Adjusted (or Non-GAAP) Financial Measures" later in this press release for reconciliation of GAAP to Non-GAAP financial measures.Third Quarter 2023 OutlookAs of August 14, 2023, we are providing guidance for the third quarter 2023 based on current market conditions, our ongoing investments to scale our Space Products business and on the development of Launch System 2. We emphasize that the guidance is subject to various important cautionary factors referenced in the section entitled "Forward-Looking Statements" below and our annual report on Form 10-K for the year ended December 31, 2022, including risks and uncertainties associated with geopolitical conditions and their potential impact on our business as well as our ability to continue operating as a going concern.For the third quarter ending September 30, 2023, we currently expect:Deliveries of 8 to 12 Astra Spacecraft Engines™,Adjusted EBITDA loss* to be between $25.0 million and $29.0 million,Basic shares outstanding to be between 280 million and 290 million shares,Capital expenditures to be between $1.0 million and $2.0 million, andCash, cash equivalents and marketable securities to be between $15.0 million and $20.0 million_________In conjunction with this announcement, Astra will host a conference call for investors at 1:30 p.m. PT (4:30 p.m. ET) today to discuss second quarter 2023 results and our outlook for the third quarter ending September 30, 2023. The live webcast and a replay of the webcast will be available on the Investor Relations section of Astra’s website: https://investor.astra.com/news-and-events/events-and-presentations.About Astra Space, Inc.Astra’s mission is to Improve Life on Earth from Space® by creating a healthier and more connected planet. Astra pursues that mission through its Launch Services and Space Products businesses. Astra’s Launch Services business offers one of the lowest cost-per-launch dedicated orbital launch services of any operational launch provider in the world. Astra delivered its first commercial launch to low Earth orbit in 2021, making it the fastest company in history to reach this milestone, just five years after it was founded in 2016. Astra’s Space Products business offers one of the industry’s first flight-proven electric propulsion systems for satellites, the Astra Spacecraft Engine™. Astra Spacecraft Engines™ have extensive on-orbit flight heritage and are available as fully assembled units or as individual components in the Astra Propulsion Kit. Astra (NASDAQ: ASTR) was the first space launch company to be publicly traded on Nasdaq. Visit astra.com to learn more about Astra.Forward Looking StatementsCertain statements made in this press release are "forward-looking statements". Forward-looking statements may be identified by the use of words such as "anticipate", "believe", "expect", "estimate", "plan", "outlook", and "project" and other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements reflect the current analysis of existing information and are subject to various risks and uncertainties. As a result, caution must be exercised in relying on forward-looking statements. Due to known and unknown risks, actual results may differ materially from Astra’s expectations or projections, including the following factors, among others: (i) the failure to meet projected development, delivery and launch targets, including as a result of the decisions of governmental authorities or other third parties not within our control; (ii) changes in applicable laws or regulations; (iii) the ability of Astra to meet its financial and strategic goals, due to, among other things, competition and the reallocation of our resources to Astra Spacecraft EngineTM and its ability to continue operating as a going concern; (iv) the ability of Astra to pursue a growth strategy and manage growth profitability without additional funding; (v) the possibility that Astra may be adversely affected by other economic, business, and/or competitive factors; (vi) the ability to manage its cash outflows related to its business operations, (vii) the ability of Astra to develop its space services offering as part of its long-term business and growth strategy and (viii) other risks and uncertainties described herein, as well as those risks and uncertainties discussed from time to time in other reports and other public filings with the Securities and Exchange Commission by Astra.Explanation of Non-GAAP (or Adjusted) Financial MeasuresThis press release includes information about Adjusted Net Loss and Adjusted EBITDA (collectively the "non-GAAP financial measures"), all of which are non-GAAP financial measures. These non-GAAP financial measures are measurements of financial performance that are not prepared in accordance with U.S. generally accepted accounting principles and computational methods may differ from those used by other companies. Non-GAAP financial measures are not meant to be considered in isolation or as a substitute for comparable GAAP measures and should be read only in conjunction with Astra’s condensed consolidated financial statements prepared in accordance with GAAP. Non-GAAP financial measures are reconciled to their most comparable GAAP measures in the table set forth in this release.We believe that both management and our investors benefit from referring to these non-GAAP financial measures in planning, forecasting and analyzing future periods. Specifically, our management uses these non-GAAP financial measures in planning, monitoring and evaluating our financial and operational decision making and as a means to evaluate period-to-period comparisons. Our management recognizes that the non-GAAP financial measures have inherent limitations because of the excluded items described below.We believe that providing the non-GAAP financial measures, together with the reconciliation to GAAP measures, helps investors make comparisons between Astra and other companies in our industry. In making any comparisons to other companies in our industry, investors need to be aware that companies use different non-GAAP measures to evaluate their financial performance. Investors should pay close attention to the specific definition being used and to the reconciliation between such measure and the corresponding GAAP measure provided by each company under applicable SEC rules.We define Free Cash Flow as cash used in operating activities including cash used for capital expenditures.Adjusted Gross Loss differs from GAAP Gross Loss in that it excludes inventory and deferred launch cost write-downs related to discontinuance of production of our current version of launch system.Adjusted Net Loss differs from GAAP Net Loss in that it excludes the items excluded from Adjusted Gross Loss and the following items: (a) stock-based compensation, (b) loss on change in fair value of contingent consideration, (c) cash earnout compensation cost related to the acquisition of Apollo Fusion and (d) other special items. For the three months ended June 30, 2023, other special items primarily related to revenues from government research and development contracts and for the three months ended June 30, 2022, other special items primarily related to amortization of licensed intellectual property, employee COVID-19 testing expenses and payroll taxes.We define Adjusted EBITDA as Adjusted Net Loss, excluding the following items: (a) interest income, (b) loss on marketable securities and (c) depreciation and amortization. We are unable to predict with reasonable certainty the ultimate outcome of these exclusions without unreasonable effort.Astra Space, Inc.Condensed Consolidated Statement of Operations(Unaudited, in thousands, except per share data)Three Months EndedJune 30,Six Months EndedJune 30,2023202220232022RevenuesLaunch services$-$1,988$-$5,899Space products707694707694Total revenues7072,6827076,593Cost of revenuesLaunch services-17,179-28,193Space products388266388266Total cost of revenues38817,44538828,459Gross loss319(14,763)319(21,866)Operating expensesResearch and development24,39540,79855,47778,725Sales and marketing6504,6363,1349,400General and administrative7,58020,60823,26241,594(Gain) loss on change in fair value of contingent consideration(16,625)1,800(19,390)17,300Total operating expenses16,00067,84262,483147,019Operating loss(15,681)(82,605)(62,164)(168,885)Interest income3843561,714530Other income/(expense), net1,293(54)1,553339Loss before taxes(14,004)(82,303)(58,897)(168,016)Provision for income tax----Net loss$(14,004)$(82,303)$(58,897)$(168,016)Basic and diluted loss per shareWeighted average basic and diluted shares - Class A215,870209,022215,288208,570Loss per share$(0.05)$(0.31)$(0.22)$(0.64)Weighted average basic and diluted shares - Class B55,53955,53955,53955,539Loss per share$(0.05)$(0.31)$(0.22)$(0.64)Astra Space, Inc.Condensed Consolidated Balance Sheets(Unaudited, in thousands)June 30,2023December 31,2022Assets:Cash and cash equivalents$13,384$33,644Marketable securities12,93569,173Trade accounts receivables5,5465,327Inventories11,2314,142Prepaid and other current assets15,75713,496Total current assets58,853125,782Property, plant and equipment, net28,30124,271Right-of-use asset11,09612,813Intangible assets, net8,99910,132Other non-current assets1,8471,701Total assets$109,096$174,699Liabilities and Stockholders' Equity:Accounts payable$7,187$1,799Operating lease obligation, current portion3,7973,800Contingent consideration14,51033,900Accrued expenses and other current liabilities40,26242,043Total current liabilities65,75681,542Operating lease obligation, net of current portion7,5489,051Other non-current liabilities8,6291,796Total liabilities81,93392,389Total stockholders’ equity27,16382,310Total liabilities and stockholders’ equity$109,096$174,699Astra Space, Inc.Summary of Cash Flow Data(Unaudited, in thousands)Three Months EndedJune 30,Six Months EndedJune 30,2023202220232022Cash used inoperating activities$(33,489)$(43,588)$(69,488)$(91,862)Capital expenditures(3,192)(11,122)(8,223)(32,064)Free cash flow (non-GAAP)$(36,681)(54,710)(77,711)(123,926)Cash provided by (used in) investing activities$30,068$(13,964)$48,787$(129,647)Cash provided by financing activities$-$346$441$817Reconciliation of GAAP Financial Measures to Non-GAAP Financial Measures(Unaudited, in thousands)Three Months EndedJune 30,Six Months EndedJune 30,2023202220232022RevenuesLaunch services$-$1,988$-$5,899Space products707694707694Total revenues7072,6827076,593Cost of revenuesLaunch services-17,179-28,193Space products388266388266Total cost of revenues38817,44538828,459GAAP gross loss$319$(14,763)$319(21,866)GAAP gross margin45%(550%)45%(332%)Inventory write-downs-10,200-10,200Deferred launch costs write downs-2,213-2,213Adjusted gross profit (loss)$319$(2,350)$319$(9,453)Adjusted gross margin45%(88%)45%(143%)GAAP net loss$(14,004)$(82,303)$(58,897)$(168,016)Stock-based compensation(2,112)12,7913,21629,832(Gain) loss on change in fair value of contingent consideration(16,625)1,800(19,390)17,300Apollo cash earnout compensation-1,242-2,575Inventory write downs-10,200-10,200Deferred launch costs write downs-2,213-2,213Other special items(967)1,088(1,185)2,781Adjusted net loss$(33,708)$(52,969)$(76,256)$(103,115)Interest income(384)(356)(1,714)(530)Accretion (amortization) of marketable securities(679)65(679)132Depreciation and amortization1,6884,8583,0337,633Adjusted EBITDA$(33,083)$(48,402)$(75,616)$(95,880)View source version on businesswire.com: https://www.businesswire.com/news/home/20230814344467/en/ContactsInvestor Contact: [email protected] Contact: [email protected]

Business Wire

Astra Announces Second Quarter 2023 Financial Results

https://finance.yahoo.com/news/astra-announces-second-quarter-2023-201000261.html

07cdd13a-a061-3af7-83fa-4f53de32d236

ASTR

NEW YORK, NY / ACCESSWIRE / August 15, 2023 / Sidoti Events, LLC, an affiliate of Sidoti & Company, LLC, has released the presentation schedule and weblinks for its two-day August Micro-Cap Conference taking place Wednesday and Thursday, August 16-17, 2023. The presentation schedule is subject to change. Please visit www.sidoti.com/events for the most updated version and webinar links.Sidoti & Company, LLC, Tuesday, August 15, 2023, Press release picturePresentation Schedule*All Times ESTWednesday, August 16, 2023 (Day 1)8:30-9:00Ohmyhome Ltd. (OMH)Hookipa Pharma Inc. (HOOK)*****9:15-9:45Loop Industries (LOOP)Zomedica Inc (ZOM)LEE Enterprises, Inc. (LEE)10:00-10:30Mativ Holdings, Inc. (MATV)DLH Holdings (DLHC)T2 Biosystems, Inc. (TTOO)10:45-11:15Near Intelligence (NIR)Surmodics Inc. (SRDX)L.B. Foster Company (FSTR)11:30-12:00IDACORP, Inc (IDA)Harvard Bioscience (HBIO)Citizens, Inc. (CIA)12:15-12:45Independence Contract Drilling (ICD)Personalis (PSNL)Silvercrest Asset Management Group Inc. (SAMG)1:00-1:30Ideal Power (IPWR)Anebulo Pharmaceuticals (ANEB)GEE Group (JOB)1:45-2:15Powell Industries, Inc. (POWL)MAIA Biotechnology, Inc. (MAIA)Rocky Mountain Chocolate (RMCF)2:30-3:00Innovative Solutions & Support (ISSC)Hillstream BioPharma, Inc. (HILS)Super League Gaming, Inc (SLGG)3:15-3:45Unisys Corporation (UIS)Markforged (MKFG)CaliberCos Inc. (CWD)4:00-4:30Sonim Technologies (SONM)KLX Energy Services Holdings (KLXE)Comstock Inc (LODE)1x1s Only(16th)DevvStream Inc. (DSTRF)Hall of Fame Resort & Entertainment Co. (HOFV)Paysign, Inc. (PAYS)****************All Times ESTThursday, August 17, 2023 (Day 2)8:30-9:00*****AGBA Group (AGBA)*****9:15-9:45MtronPTI (MPTI)The Real Brokerage Inc (REAX)Splash Beverage Group (SBEV)10:00-10:30CLIQ Digital AG (CLIQ)LifeMD (LFMD)Mistras Group (MG)10:45-11:15Innovative Eyewear, Inc. (LUCY)CareCloud (CCLD)Granite Construction Inc. (GVA)11:30-12:00Shapeways (SHPW)Processa Pharmaceuticals (PCSA)Landsea Homes (LSEA)12:15-12:45*****Modular Medical (MODD)Sidus Space (SIDU)1:00-1:30Daktronics (DAKT)Kala Pharmaceuticals (KALA)Terran Orbital (LLAP)1:45-2:15SOBR Safe Inc. (SOBR)Xcel Brands (XELB)SYLA Technologies (SYT)2:30-3:00Intellicheck (IDN)Alpha Teknova, Inc. (TKNO)ClearOne, Inc. (CLRO)3:15-3:45AudioEye Inc (AEYE)Quince Therapeutics (QNCX)Astra Space (ASTR)4:00-4:30Iteris, Inc. (ITI)*****ARC Document Solutions (ARC)1x1s Only(17th)Hall of Fame Resort & Entertainment Co. (HOFV)Kelly Services, Inc. (KELYA)Paysign, Inc. (PAYS)Tennant Company (TNC)**********About Sidoti Events, LLC ("Events") and Sidoti & Company, LLC ("Sidoti")In 2023, Sidoti & Company, LLC (www.sidoti.com) formed a sister company, Sidoti Events, LLC in order to focus exclusively on its rapidly growing conference business and to more directly serve the needs of presenters and attendees. The relationship allows Events to draw on the nearly 25 years of experience Sidoti had as a premier provider of independent securities research focused specifically on small and microcap companies and the institutions that invest in their securities, with most of its coverage in the $200 million-$5 billion market cap range. Sidoti's coverage universe comprises approximately 160 equities of which around 40 percent participate in the firm's rapidly growing Company Sponsored Research ("CSR") program. Events is a leading provider of corporate access through the eight investor conferences it hosts each year. By virtue of its direct ties to Sidoti, Event's benefits from Sidoti's small- and microcap-focused nationwide sales force, which has connections with 1,500 institutional relationships in North America. This enables Events to provide multiple forums for meaningful interaction for small and microcap issuers and investors specifically interested in companies in the sector.SOURCE: Sidoti Events, LLC and Sidoti & Company, LLCView source version on accesswire.com: https://www.accesswire.com/774285/Sidoti-Events-LLCs-Virtual-August-Micro-Cap-Conference

ACCESSWIRE

Sidoti Events, LLC’s Virtual August Micro-Cap Conference

https://finance.yahoo.com/news/sidoti-events-llc-virtual-august-142000744.html

333c2417-6e87-376a-a433-75266c14e666

ASTS

Confirmed historic space-based 4G LTE cellular broadband capabilities alongside AT&T, Vodafone and Nokia; and completed comprehensive interim financing packageMIDLAND, Texas, August 14, 2023--(BUSINESS WIRE)--AST SpaceMobile, Inc. ("AST SpaceMobile") (NASDAQ: ASTS), the company building the first and only space-based cellular broadband network accessible directly by standard mobile phones, is providing its business update for the second quarter ended June 30, 2023."AST SpaceMobile continues to make history. This quarter we achieved space-based 4G LTE cellular broadband capabilities to everyday smartphones, reaching speeds above 10 Mbps during BlueWalker 3 testing alongside AT&T, Vodafone and Nokia," said Abel Avellan, Chairman and Chief Executive Officer of AST SpaceMobile. "We are now laser-focused on the manufacturing of our BlueBird satellites. The first five satellites are fully-funded with a planned launch in Q1 2024 as we target to offer initial commercial service in 2024.""On the back of the progress of our company technically, commercially and industrially, we have received multiple indications of interest for strategic investments with both equity-linked and non-dilutive commercial payments," said Scott Wisniewski, Chief Strategy Officer of AST SpaceMobile. "Proceeds from this prospective capital raise are intended to fund the manufacturing and launch of additional BlueBird satellites launches beyond our first five commercial satellites.""We are happy to announce the completion of a comprehensive financing package providing us up to $179 million of cash and liquidity," said Sean Wallace, Chief Financial Officer of AST SpaceMobile. "This financing package is comprised of an up to $100 million Senior Secured Credit Facility and a $15 million Equipment-Backed Loan completed today, in addition to a $57 million previously announced common stock offering in June 2023 and $7 million raised under the ATM program during the second quarter of 2023."Story continuesBusiness UpdateHistory made, again, with space-based 4G LTE cellular broadband capabilities confirmed to everyday smartphones, reaching speeds above 10 Mbps during BlueWalker 3 testing alongside AT&T, Vodafone and NokiaContinued commercial and regulatory progress, with 40+ MOUs and agreements with mobile network operators globally that have ~2.4 billion subscribersBlock 1 BlueBird program is fully-funded, with manufacturing underway and ramping ahead of the planned launch in Q1 2024 of our first five commercial satellitesRaised cash and liquidity of up to $179 million, with a comprehensive financing package of non-dilutive debt and equity designed to support strategic investment processUp to $100 million Senior Secured Credit Facility with an initial gross draw of $48.5 million$15 million Equipment-Backed Loan$57 million of previously announced common stock offering in June 2023$7 million raised under the ATM program during the second quarter of 2023Received multiple indications of interest for strategic investment, including both equity-linked investments and non-dilutive commercial paymentsSecond Quarter 2023 Financial HighlightsAs of June 30, 2023, we had cash, cash equivalents, and restricted cash of $191.5 million. After June 30, 2023, added incremental cash and liquidity of up to $115 million from an up to $100 million Senior Secured Credit Facility with an initial gross draw of $48.5 million in gross proceeds and a $15 million Equipment-Backed Loan.Total Adjusted operating expenses for the second quarter of 2023 were $38.4 million, a decrease of $1.9 million as compared to $40.3 million in the first quarter of 2023, due to a $5.5 million decrease in research and development costs offset by a $3.3 million increase in Adjusted engineering services costs and a $0.3 million increase in Adjusted general and administrative costs.(1)As of June 30, 2023, we have incurred approximately $194.1 million of gross capitalized property and equipment costs and accumulated depreciation and amortization of $22.5 million. The capitalized costs include costs of our BlueWalker 3 satellite, assembly and integration facilities including assembly and test equipment, satellite materials, advance launch payments and ground antennas.(1) See reconciliation of Adjusted operating expenses to Total operating expenses, Adjusted engineering services costs to Engineering services costs and Adjusted general and administrative costs to General and administrative costs in the tables accompanying this press release.Non-GAAP Financial MeasuresWe refer to certain non-GAAP financial measures in this press release, including Adjusted operating expenses, Adjusted engineering services costs and Adjusted general and administrative costs. We believe these non-GAAP financial measures are useful measures across time in evaluating our operating performance as we use these measures to manage the business, including in preparing our annual operating budget and financial projections. These non-GAAP financial measures that have no standardized meaning prescribed by U.S. GAAP, and therefore have limits in their usefulness to investors. Because of the non-standardized definitions, these measures may not be comparable to the calculation of similar measures of other companies and are presented solely to provide investors with useful information to more fully understand how management assesses performance. These measures are not, and should not be viewed as, a substitute for their most directly comparable GAAP measures. Reconciliation of non-GAAP financial measures and the most directly comparable GAAP financial measures are included in the tables accompanying this press release.Conference Call InformationAST SpaceMobile will hold a quarterly business update conference call at 5:00 p.m. (Eastern Time) on Monday, August 14, 2023. The call will be accessible via a live webcast on the Events page of AST SpaceMobile’s Investor Relations website at https://ast-science.com/investors/. An archive of the webcast will be available shortly after the call.About AST SpaceMobileAST SpaceMobile is building the first and only global cellular broadband network in space to operate directly with standard, unmodified mobile devices based on our extensive IP and patent portfolio. Our engineers and space scientists are on a mission to eliminate the connectivity gaps faced by today’s five billion mobile subscribers and finally bring broadband to the billions who remain unconnected. For more information, follow AST SpaceMobile on YouTube, X (Formerly Twitter), LinkedIn and Facebook. Watch this video for an overview of the SpaceMobile mission.Forward-Looking StatementsThis communication contains "forward-looking statements" that are not historical facts, and involve risks and uncertainties that could cause actual results of AST SpaceMobile to differ materially from those expected and projected. These forward-looking statements can be identified by the use of forward-looking terminology, including the words "believes," "estimates," "anticipates," "expects," "intends," "plans," "may," "will," "would," "potential," "projects," "predicts," "continue," or "should," or, in each case, their negative or other variations or comparable terminology.These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results. Most of these factors are outside AST SpaceMobile’s control and are difficult to predict. Factors that may cause such differences include, but are not limited to: (i) expectations regarding AST SpaceMobile’s strategies and future financial performance, including AST’s future business plans or objectives, expected functionality of the SpaceMobile Service, anticipated timing and results of the BW3 satellite tests, anticipated timing and level of deployment of satellites, anticipated demand and acceptance of mobile satellite services, prospective performance and commercial opportunities and competitors, the timing of obtaining regulatory approvals, ability to finance its research and development activities, commercial partnership acquisition and retention, products and services, pricing, marketing plans, operating expenses, market trends, revenues, liquidity, cash flows and uses of cash, capital expenditures, and AST’s ability to invest in growth initiatives; (ii) the negotiation of definitive agreements with mobile network operators relating to the SpaceMobile service that would supersede preliminary agreements and memoranda of understanding; (iii) the ability of AST SpaceMobile to grow and manage growth profitably and retain its key employees and AST SpaceMobile’s responses to actions of its competitors and its ability to effectively compete; (iv) changes in applicable laws or regulations; (v) the possibility that AST SpaceMobile may be adversely affected by other economic, business, and/or competitive factors; (vi) the outcome of any legal proceedings that may be instituted against AST SpaceMobile; and (vii) other risks and uncertainties indicated in the Company’s filings with the SEC, including those in the Risk Factors section of AST SpaceMobile’s Form 10-K filed with the SEC on March 31, 2023.The ongoing testing of the BW3 satellite may not be completed due to a variety of factors, which could include loss of satellite connectivity, destruction of the satellite, or other communication failures, and even if completed, the BW3 testing may indicate adjustments that are needed or modifications that must be made, any of which could result in additional costs, which could be material, and delays in commercializing our service. If there are delays or issues with additional testing, it may become more costly to raise capital, if we are able to do so at all.AST SpaceMobile cautions that the foregoing list of factors is not exclusive. AST SpaceMobile cautions readers not to place undue reliance upon any forward-looking statements, which speak only as of the date made. For information identifying important factors that could cause actual results to differ materially from those anticipated in the forward-looking statements, please refer to the Risk Factors incorporated by reference into AST SpaceMobile’s Form 10-K filed with the SEC on March 31, 2023. AST SpaceMobile’s securities filings can be accessed on the EDGAR section of the SEC’s website at www.sec.gov. Except as expressly required by applicable securities law, AST SpaceMobile disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.Second Quarter Financial ResultsAST SPACEMOBILE, INC.CONSOLIDATED BALANCE SHEETS (UNAUDITED)(Dollars in thousands, except share data)June 30,2023December 31,2022ASSETSCurrent assets:Cash and cash equivalents$190,835$238,588Restricted cash636668Prepaid expenses7,1274,100Other current assets22,97624,954Total current assets221,574268,310Property and equipment:Property and equipment194,145152,968Less: Accumulated depreciation(22,508)(6,979)Total property and equipment, net171,637145,989Other non-current assets:Operating lease right-of-use assets, net13,4867,671Other non-current assets1,77016,402Total other non-current assets15,25624,073TOTAL ASSETS$408,467$438,372LIABILITIES AND STOCKHOLDERS' EQUITYCurrent liabilities:Accounts payable5,10813,929Accrued expenses and other current liabilities24,25613,145Current operating lease liabilities1,305722Total current liabilities30,66927,796Warrant liabilities24,97338,946Non-current operating lease liabilities12,3147,046Long-term debt4,6344,758Total liabilities72,59078,546Commitments and contingenciesStockholders' Equity:Class A Common Stock, $.0001 par value; 800,000,000 shares authorized; 89,404,419 and 71,819,926 shares issued and outstanding as of June 30, 2023 and December 31, 2022, respectively.97Class B Common Stock, $.0001 par value; 200,000,000 shares authorized; 50,041,757 shares issued and outstanding as of June 30, 2023 and December 31, 2022, respectively.55Class C Common Stock, $.0001 par value; 125,000,000 shares authorized; 78,163,078 shares issued and outstanding as of June 30, 2023 and December 31, 2022, respectively.88Additional paid-in capital282,869235,384Accumulated other comprehensive income (loss)158229Accumulated deficit(136,827)(102,101)Noncontrolling interest189,655226,294Total stockholders' equity335,877359,826TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY$408,467$438,372AST SPACEMOBILE, INC.CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED)(Dollars in thousands, except share and per share data)For the Three Months Ended June 30,For the Six Months Ended June 30,2023202220232022Revenues$-$7,264$-$9,658Cost of sales (exclusive of items shown separately below)-2,202-4,189Gross profit-5,062-5,469Operating expenses:Engineering services costs22,81311,99939,29623,716General and administrative costs10,22113,07520,07824,718Research and development costs10,9219,14527,30217,426Depreciation and amortization14,1151,18515,8482,285Total operating expenses58,07035,404102,52468,145Other income (expense):Gain on remeasurement of warrant liabilities6,47523,04913,97317,567Other income (expense), net1,217(679)(6,927)(664)Total other income (expense), net7,69222,3707,04616,903Loss before income tax benefit (expense)(50,378)(7,972)(95,478)(45,773)Income tax benefit (expense)789(96)673(198)Net loss before allocation to noncontrolling interest(49,589)(8,068)(94,805)(45,971)Net loss attributable to noncontrolling interest(31,181)(5,144)(60,079)(32,326)Net loss attributable to common stockholders$(18,408)$(2,924)$(34,726)$(13,645)Net loss per share attributable to holders of Class A Common StockBasic and diluted$(0.24)$(0.06)$(0.47)$(0.26)Weighted-average shares of Class A Common Stock outstandingBasic and diluted75,640,65051,868,65873,753,41251,814,888AST SPACEMOBILE, INC.CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (UNAUDITED)(Dollars in thousands)For the Three Months Ended June 30,For the Six Months Ended June 30,2023202220232022Net loss before allocation to noncontrolling interest$(49,589)$(8,068)$(94,805)$(45,971)Other comprehensive lossForeign currency translation adjustments(40)(166)(168)(598)Total other comprehensive loss(40)(166)(168)(598)Total comprehensive loss before allocation to noncontrolling interest(49,629)(8,234)(94,973)(46,569)Comprehensive loss attributable to noncontrolling interest(31,196)(5,289)(60,176)(32,831)Comprehensive loss attributable to common stockholders$(18,433)$(2,945)$(34,797)$(13,738)AST SPACEMOBILE, INC.CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)(Dollars in thousands)For the Six Months Ended June 30,20232022Cash flows from operating activities:Net loss before allocation to noncontrolling interest$(94,805)$(45,971)Adjustments to reconcile net loss before noncontrolling interest to cash used in operating activities:Depreciation and amortization15,8482,285Gain on remeasurement of warrant liabilities(13,973)(17,567)Non-cash lease expense378267Stock-based compensation8,0064,695Issuance of common stock for commitment shares-190Changes in operating assets and liabilities:Accounts receivable-(1,613)Prepaid expenses and other current assets(15,547)(16,332)Inventory-(2,313)Accounts payable and accrued expenses(4,112)2,838Operating lease liabilities(343)(261)Deferred revenue-1,393Other assets and liabilities16,559(16,116)Net cash used in operating activities(87,989)(88,505)Cash flows from investing activities:Purchase of property and equipment(22,972)(33,600)Net cash used in investing activities(22,972)(33,600)Cash flows from financing activities:Issuance of equity under employee stock plan180-Proceeds from issuance of common stock, net of issuance costs63,567-Proceeds from warrant exercises-33(Repayments of) proceeds from debt(120)230Net cash provided by financing activities63,627263Effect of exchange rate changes on cash, cash equivalents and restricted cash(451)(324)Net (decrease) increase in cash, cash equivalents and restricted cash(47,785)(122,166)Cash, cash equivalents and restricted cash, beginning of period239,256324,537Cash, cash equivalents and restricted cash, end of period$191,471$202,371Supplemental disclosure of cash flow information:Non-cash transactions:Purchases of property and equipment in accounts payable and accrued expenses$852$1,718Right-of-use assets obtained in exchange for operating lease liabilities6,510272AST SPACEMOBILE, INC.RECONCILIATION OF GAAP REPORTED TO NON-GAAP ADJUSTED MEASURES (UNAUDITED)(Dollars in thousands)For the Three Months Ended June 30, 2023GAAP ReportedStock-Based Compensation ExpenseAdjustedEngineering services costs$22,813$(4,458)$18,355General and administrative costs10,221(1,074)9,147Research and development costs10,921-10,921Depreciation and amortization14,115-14,115Total operating expenses$58,070$(5,532)$52,538Less: Depreciation and amortization(14,115)Adjusted operating expenses$38,423For the Three Months Ended March 31, 2023GAAP ReportedStock-Based Compensation ExpenseAdjustedEngineering services costs$16,483$(1,392)$15,091General and administrative costs9,857(1,082)8,775Research and development costs16,381-16,381Depreciation and amortization1,733-1,733Total operating expenses$44,454$(2,474)$41,980Less: Depreciation and amortization(1,733)Adjusted operating expenses$40,247Adjusted operating expenses, Adjusted engineering services costs and Adjusted general and administrative costs are alternative financial measures used by management to evaluate our operating performance as a supplement to our most directly comparable U.S. GAAP financial measure. We define Adjusted operating expense as Total operating expenses adjusted to exclude amounts of stock-based compensation expense and depreciation and amortization expense and define Adjusted engineering costs and Adjusted general and administrative costs as engineering services costs and general and administrative costs adjusted to exclude stock-based compensation expenses.We believe Adjusted operating expenses, Adjusted engineering services costs and Adjusted general and administrative costs are useful measures across time in evaluating our operating performance as we use these measures to manage the business, including in preparing our annual operating budget and financial projections. Adjusted operating expenses, Adjusted engineering services costs, and Adjusted general and administrative costs are non-GAAP financial measures that have no standardized meaning prescribed by U.S. GAAP, and therefore have limits in their usefulness to investors. Because of the non-standardized definitions, these measures may not be comparable to the calculation of similar measures of other companies and are presented solely to provide investors with useful information to more fully understand how management assesses performance. These measures are not, and should not be viewed as, a substitute for their most directly comparable GAAP measure of Total operating expenses, Engineering services costs and General and administrative costs.View source version on businesswire.com: https://www.businesswire.com/news/home/20230814808384/en/ContactsInvestor Contact: Scott [email protected] Contact: Allison+PartnersEva Murphy [email protected]

Business Wire

AST SpaceMobile Provides Second Quarter 2023 Business Update

https://finance.yahoo.com/news/ast-spacemobile-provides-second-quarter-201500538.html

677aafef-36c0-3b21-888f-d36daa2a0e3f

ASTS

Patchy coverage and unreliable connections have led some rail services to make upgrades and take advantage of 5G while others are considering the benefits satellite networks like Starlink could offer.Continue reading

The Wall Street Journal

Train Wi-Fi Can Be Terrible. Operators Are Looking High and Low for Solutions.

https://finance.yahoo.com/m/a5fba74b-78e6-39a1-a484-ec53f6712883/train-wi-fi-can-be-terrible-.html

a5fba74b-78e6-39a1-a484-ec53f6712883

ASXC

Asensus Surgical, Inc.RESEARCH TRIANGLE PARK, N.C., Sept. 05, 2023 (GLOBE NEWSWIRE) -- Asensus Surgical, Inc. (NYSE American: ASXC) announced today that Shameze Rampertab, Executive Vice President and Chief Financial Officer, will participate in the H.C. Wainwright 25th Annual Global Investment Conference. The Company’s fireside chat will take place on Monday, September 11, 2023 at 3:00 pm Eastern Time.In addition, the Company will participate in the 2023 Cantor Global Healthcare Conference. The Company’s fireside chat will take place on Tuesday, September 26, 2023 at 4:20 pm Eastern Time.Each of the conference webcasts will be available online on the investor relations page of the Company’s website at https://ir.asensus.com/events-and-presentations. Replays of the webcasts will be archived on the website for approximately 90 days.About Asensus Surgical, Inc.Asensus Surgical, Inc. is digitizing the interface between the surgeon and patient to pioneer a new era of Performance-Guided Surgery by unlocking clinical intelligence for surgeons to enable consistently superior outcomes and a new standard of surgery. Based upon the foundations of Digital Laparoscopy and the Senhance® Surgical System, the Company is developing the LUNA™ Surgical System, a next generation robotic and instrument system as a foundation of its Digital Surgery solution. These systems will be powered by the Intelligent Surgical Unit to increase surgeon control and reduce surgical variability. With the addition of machine vision, Augmented Intelligence, and deep learning capabilities throughout the surgical experience, we intend to holistically address the current clinical, cognitive and economic shortcomings that drive surgical outcomes and value-based healthcare. The Senhance Surgical System is now available for sale in the US, EU, Japan, Russia, and select other countries. For a complete list of indications for use, visit: www.senhance.com/indications. To learn more about Performance-Guided Surgery, Digital Laparoscopy with the Senhance Surgical System and the new LUNA System visit www.asensus.com.Story continuesFollow Asensus:Email Alerts: https://ir.asensus.com/email-alertsLinkedIn: https://www.linkedin.com/company/asensus-surgical-incTwitter: https://twitter.com/AsensusSurgicalYouTube: https://www.youtube.com/@AsensusSurgicalVimeo: https://vimeo.com/asxcTikTok: https://www.tiktok.com/@asensus_surgicalINVESTOR CONTACT:Mark Klausner or Mike VallieICR [email protected] CONTACT:Dan VentrescaMatter [email protected]

GlobeNewswire

Asensus Surgical to Participate in the H.C. Wainwright 25th Annual Global Investment Conference and 2023 Cantor Global Healthcare Conference

https://finance.yahoo.com/news/asensus-surgical-participate-h-c-105500468.html

5c7bfe35-b2b9-3d10-a796-3cdcc9631d7f

ASXC

Asensus Surgical, Inc.RESEARCH TRIANGLE PARK, N.C., Sept. 07, 2023 (GLOBE NEWSWIRE) -- Asensus Surgical, Inc. (NYSE American: ASXC), a medical device company that is digitizing the interface between the surgeon and the patient to pioneer a new era of Performance-Guided Surgery™, today announced a collaboration with NVIDIA to accelerate the development of Asensus’s Intelligent Surgical Unit™ (ISU™) and improve its ability to deliver novel clinical intelligence to surgeons.Asensus will utilize a broad suite of NVIDIA tools to enhance the augmented intelligence capabilities of its ISU. Asensus’s ISU is built with NVIDIA accelerated computing technology and has been bringing real-time augmented intelligent features — such as digital tags, 3D measurement, and enhanced camera control — to surgeons since 2021.“We’re thrilled to collaborate with NVIDIA to enhance the machine vision and image analytics capabilities of the ISU, as well as the processing speed and precision of its augmented intelligence capabilities. Utilizing NVIDIA’s advanced technologies will allow us to further improve the ISU’s augmented intelligence capabilities and the roadmap of our innovative clinical applications,” said Anthony Fernando, Asensus Surgical President and CEO. “Through this collaboration, Asensus is furthering its vision to enhance clinical intelligence in surgery through the use of advanced augmented intelligence tools.”As part of the collaboration, both companies will have early access to relevant product roadmaps, fostering synergistic development. Furthermore, Asensus and NVIDIA plan to jointly define innovative business models for the development, deployment, and commercialization of digital surgical solutions.“The healthcare industry, and in particular digital surgery, is becoming one of the largest data generating industries. NVIDIA brings a domain-specific full stack edge AI computing platform, Holoscan, to medtech innovators looking to optimize real-time data and image processing to help solve complex problems and improve surgeon decision-making,” said David Niewolny, Director of Healthcare Business Development at NVIDIA. “As a leading FDA cleared solution in soft-tissue abdominal surgery, Asensus’s ISU is a perfect platform to leverage NVIDIA’s software-defined architecture to accelerate innovation and deliver new products to surgeons faster via software-as-a-medical-device applications.”Story continuesAbout Asensus Surgical, Inc.Asensus Surgical, Inc. is digitizing the interface between the surgeon and patient to pioneer a new era of Performance-Guided Surgery by unlocking clinical intelligence for surgeons to enable consistently superior outcomes and a new standard of surgery.Based upon the foundations of digital laparoscopy and the Senhance® Surgical System, the Company is developing the LUNA™ Surgical System, a next generation robotic and instrument system as a foundation of its digital surgery solution. These systems will be powered by the Intelligent Surgical Unit to increase surgeon control and reduce surgical variability. With the addition of machine vision, augmented intelligence, and deep learning capabilities throughout the surgical experience, we intend to holistically address the current clinical, cognitive and economic shortcomings that drive surgical outcomes and value-based healthcare. The Senhance Surgical System is now available for sale in the US, EU, Japan, Russia, and select other countries. For a complete list of indications for use, visit: www.senhance.com/indications. To learn more about Performance-Guided Surgery, and digital laparoscopy with the Senhance Surgical System visit www.asensus.com.Follow AsensusEmail Alerts: https://ir.asensus.com/email-alertsLinkedIn: https://www.linkedin.com/company/asensus-surgical-incTwitter: https://twitter.com/AsensusSurgicalYouTube: https://www.youtube.com/@AsensusSurgicalVimeo: https://vimeo.com/asxcTikTok: https://www.tiktok.com/@asensus_surgicalForward-Looking StatementsThis press release includes statements relating to the Asensus collaboration with NVIDIA. These statements and other statements regarding our future plans and goals constitute "forward looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, and are intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. Such statements are subject to risks and uncertainties that are often difficult to predict, are beyond our control and which may cause results to differ materially from expectations and include whether utilizing NVIDIA’s advanced technologies will allow Asensus to further improve the ISU’s augmented intelligence capabilities and the roadmap of our innovating clinical applications, whether Asensus’s ISU is a perfect platform to leverage NVIDIA’s software-defined architecture to accelerate innovation and deliver new products to surgeons faster via software-as-a-medical-device applications and whether the collaboration will be successful. For a discussion of the risks and uncertainties associated with the Company’s business, please review our filings with the Securities and Exchange Commission (SEC), including our Annual Report on Form 10-K for the year ended December 31, 2022, filed with the SEC on March 2, 2023 and our other filings we make with the SEC. You are cautioned not to place undue reliance on these forward looking statements, which are based on our expectations as of the date of this press release and speak only as of the origination date of this press release. We undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.INVESTOR CONTACT:Mark Klausner or Mike Vallie, [email protected] CONTACT:Dan VentrescaMatter [email protected]

GlobeNewswire

Asensus Surgical Announces Collaboration with NVIDIA to Enhance Augmented Intelligence Capabilities of the ISU

https://finance.yahoo.com/news/asensus-surgical-announces-collaboration-nvidia-105500968.html

c46797a6-4408-3766-8acb-5ec6101c5a54

ATEX

The Zacks Communication - Infrastructure industry appears mired in raw material price volatility due to elevated inventory levels amid a challenging macroeconomic environment, uncertain market conditions and incessant inflationary pressure. Moreover, high capital expenditure for infrastructure upgrades for 5G deployment, inflated equipment costs and margin erosion due to a gradual shift to low-priced alternatives have dented the industry’s profitability.Nevertheless, Anterix Inc. ATEX, Bandwidth Inc. BAND and DZS Inc. DZSI are likely to benefit from higher demand for scalable infrastructure for seamless connectivity amid the wide proliferation of IoT, transition to cloud and related next-gen technologies and accelerated 5G rollout.Industry DescriptionThe Zacks Communication - Infrastructure industry players provide various infrastructure solutions for the core, access and edge layers of communication networks. Leveraging proprietary modeling and simulation techniques to optimize networks, the firms offer high-speed network access solutions across Internet protocol, asynchronous transfer mode and time division multiplexed architecture in both wireline and wireless network applications. Their product portfolio encompasses optical fiber and twisted-pair structured cable solutions, infrastructure management hardware and software, network racks and cabinets, fiber-to-home equipment like hardened connector systems, wireless network backhaul planning and optimization products, couplers and splitters, indoor, small cell and distributed wireless antenna systems and hardened optical terminating enclosures.What's Shaping the Future of the Communication - Infrastructure Industry?Waning Demand: Efforts to offset substantial capital expenditure for upgrading network infrastructure by raising fees have reduced demand, as customers prefer to switch to lower-priced alternatives. Moreover, efforts to build resilient infrastructure facilities to withstand natural catastrophes such as hurricanes and floods add to operating costs. In addition, the latent tension between the United States and China, relating to trade restrictions imposed on the sale of communication equipment to firms based in the communist country, has dented the industry’s credibility, leading to a loss of business. The industry is battling hard-to-mitigate operating risks stemming from volatility in demand, an unpredictable business environment and challenging geopolitical scenarios.Steady Infrastructure Upgrade: With exponential growth in video and other bandwidth-intensive applications owing to the wide proliferation of smartphones and increased deployment of superfast 5G technology, the industry participants are considerably investing in LTE, broadband and fiber to provide additional capacity and ramp up the Internet and wireless networks. These companies are rapidly transforming from legacy copper-based telecommunications firms to technology powerhouses with capabilities to meet the growing demand for flexible data, video, voice and IP solutions. The industry participants are also focusing on leveraging wireline momentum, expanding media coverage, improving customer service and achieving a competitive cost structure to generate higher average revenue per user while attracting new customers. All these efforts have particularly helped firms in the industry cater to the surge in data demand.Inflated Equipment Prices: Although supply chain woes have declined progressively, the industry is facing a dearth of chips, which are the building blocks of various equipment used by telecom carriers. Moreover, high raw material prices due to inflation, the prolonged Russia-Ukraine war and the consequent economic sanctions against the Putin regime have affected the operation schedule of various firms. The demand-supply imbalance has crippled operations and largely affected profitability due to inflated equipment prices.Short-Term Profitability at Stake: With operators moving toward converged or multi-use network structures, combining voice, video and data communications into a single network, the industry is increasingly developing solutions to support wireline and wireless network convergence. Although these investments will eventually help minimize service delivery costs to adequately support broadband competition and expand rural coverage and wireless densification, short-term profitability has largely been compromised. Nevertheless, the industry players have enabled enterprises to rapidly scale communications functionalities to a vast range of applications and devices with easy-to-use software application programming interfaces. The firms support high user volumes without affecting deliverability and cost-effectively eliminate performance degradation.Story continuesZacks Industry Rank Indicates Bearish TrendsThe Zacks Communication - Infrastructure industry is housed within the broader Zacks Computer and Technology sector. It carries a Zacks Industry Rank #219, which places it in the bottom 13% of more than 250 Zacks industries.The group’s Zacks Industry Rank, which is basically the average of the Zacks Rank of all the member stocks, indicates bleak prospects. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1. The industry’s positioning in the bottom 50% of the Zacks-ranked industries is a result of a negative earnings outlook for the constituent companies in aggregate.Before we present a few communication infrastructure stocks that are well-positioned to outperform the market based on a strong earnings outlook, let’s take a look at the industry’s recent stock market performance and valuation picture.Industry Lags S&P 500 & SectorThe Zacks Communication - Infrastructure industry has lagged the broader Zacks Computer and Technology sector and the S&P 500 composite over the past year.The industry has lost 34.8% over this period against the S&P 500 and the sector’s growth of 6.2% and 12.1%, respectively.One Year Price PerformanceIndustry's Current ValuationOn the basis of the trailing 12-month enterprise value-to-EBITDA (EV/EBITDA), which is the most appropriate multiple for valuing telecom stocks, the industry is currently trading at 3.86X compared with the S&P 500’s 13.08X. It is also below the sector’s trailing-12-month EV/EBITDA of 11.81X.Over the past five years, the industry has traded as high as 12.05X, as low as 3.85X and at the median of 8.25X, as the chart below shows.Trailing 12-Month enterprise value-to-EBITDA (EV/EBITDA) Ratio3 Communication - Infrastructure Stocks to Keep a Close Eye onAnterix: Headquartered in Woodland Park, NJ, Anterix is a premier wireless communications firm. It reportedly holds the largest licensed spectrum in the 900 MHz band, with coverage throughout the United States, Alaska, Hawaii and Puerto Rico. Anterix expects to monetize its spectrum assets to generate long-term value. The stock has delivered an earnings surprise of 37.1%, on average, in the trailing four quarters. Anterix carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. Price and Consensus: ATEXBandwidth: Founded in 2000 and headquartered in Raleigh, NC, Bandwidth operates as a Communications Platform-as-a-Service provider, offering avant-garde software application programming interfaces for voice and messaging services. It is the only application programming interface platform provider that owns a Tier 1 network with enhanced network capacity, primarily catering to business enterprises. With 8,800 on-net rate centers, it delivers unparalleled network quality and proactively monitors network operations 24/7 to resolve quality issues, capitalizing on an efficient cost structure for seamless connectivity and speed-to-market. The Zacks Consensus Estimate for current-year and next-year earnings has been revised upward by 27.3% and 57.6%, respectively, since August 2022. The stock has delivered an earnings surprise of 372.9%, on average, in the trailing four quarters. It has a VGM Score of A. Bandwidth carries a Zacks Rank #3.Price and Consensus: BANDDZS Inc.: Founded in 1996 and based in Plano, TX, DZS offers network access solutions and communications platforms for service provider and enterprise networks in the United States, Canada, Latin America, Europe, the Middle East, Africa, Korea and other Asia Pacific countries. The company is likely to benefit from the secular trend of 5G deployment across the globe with healthy traction in the fiber LAN ecosystem. With better visibility and solid order trends, the company is aiming to gain cost efficiencies and introduce products to the market. The stock carries a Zacks Rank #3.Price and Consensus: DZSIWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free reportAnterix Inc. (ATEX) : Free Stock Analysis ReportDZS Inc. (DZSI) : Free Stock Analysis ReportBandwidth Inc. (BAND) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

3 Communication Stocks Likely to Tide Over Market Volatility

https://finance.yahoo.com/news/3-communication-stocks-likely-tide-130100909.html

b41c3e4b-212d-3c0d-81c3-bb187f6a3b25

ATEX

For Immediate ReleaseChicago, IL – August 23, 2023 – Today, Zacks Equity Research discusses Anterix Inc. ATEX, Bandwidth Inc. BAND and DZS Inc. DZSI.Industry: Communication InfrastructureLink: https://www.zacks.com/commentary/2138951/3-communication-stocks-likely-to-tide-over-market-volatilityThe Zacks Communication - Infrastructure industry appears mired in raw material price volatility due to elevated inventory levels amid a challenging macroeconomic environment, uncertain market conditions and incessant inflationary pressure. Moreover, high capital expenditure for infrastructure upgrades for 5G deployment, inflated equipment costs and margin erosion due to a gradual shift to low-priced alternatives have dented the industry’s profitability.Nevertheless, Anterix Inc., Bandwidth Inc. and DZS Inc. are likely to benefit from higher demand for scalable infrastructure for seamless connectivity amid the wide proliferation of IoT, transition to cloud and related next-gen technologies and accelerated 5G rollout.Industry DescriptionThe Zacks Communication - Infrastructure industry players provide various infrastructure solutions for the core, access and edge layers of communication networks. Leveraging proprietary modeling and simulation techniques to optimize networks, the firms offer high-speed network access solutions across Internet protocol, asynchronous transfer mode and time division multiplexed architecture in both wireline and wireless network applications.Their product portfolio encompasses optical fiber and twisted-pair structured cable solutions, infrastructure management hardware and software, network racks and cabinets, fiber-to-home equipment like hardened connector systems, wireless network backhaul planning and optimization products, couplers and splitters, indoor, small cell and distributed wireless antenna systems and hardened optical terminating enclosures.What's Shaping the Future of the Communication - Infrastructure Industry?Waning Demand: Efforts to offset substantial capital expenditure for upgrading network infrastructure by raising fees have reduced demand, as customers prefer to switch to lower-priced alternatives. Moreover, efforts to build resilient infrastructure facilities to withstand natural catastrophes such as hurricanes and floods add to operating costs.Story continuesIn addition, the latent tension between the United States and China, relating to trade restrictions imposed on the sale of communication equipment to firms based in the communist country, has dented the industry’s credibility, leading to a loss of business. The industry is battling hard-to-mitigate operating risks stemming from volatility in demand, an unpredictable business environment and challenging geopolitical scenarios.Steady Infrastructure Upgrade: With exponential growth in video and other bandwidth-intensive applications owing to the wide proliferation of smartphones and increased deployment of superfast 5G technology, the industry participants are considerably investing in LTE, broadband and fiber to provide additional capacity and ramp up the Internet and wireless networks. These companies are rapidly transforming from legacy copper-based telecommunications firms to technology powerhouses with capabilities to meet the growing demand for flexible data, video, voice and IP solutions.The industry participants are also focusing on leveraging wireline momentum, expanding media coverage, improving customer service and achieving a competitive cost structure to generate higher average revenue per user while attracting new customers. All these efforts have particularly helped firms in the industry cater to the surge in data demand.Inflated Equipment Prices: Although supply chain woes have declined progressively, the industry is facing a dearth of chips, which are the building blocks of various equipment used by telecom carriers. Moreover, high raw material prices due to inflation, the prolonged Russia-Ukraine war and the consequent economic sanctions against the Putin regime have affected the operation schedule of various firms. The demand-supply imbalance has crippled operations and largely affected profitability due to inflated equipment prices.Short-Term Profitability at Stake: With operators moving toward converged or multi-use network structures, combining voice, video and data communications into a single network, the industry is increasingly developing solutions to support wireline and wireless network convergence. Although these investments will eventually help minimize service delivery costs to adequately support broadband competition and expand rural coverage and wireless densification, short-term profitability has largely been compromised.Nevertheless, the industry players have enabled enterprises to rapidly scale communications functionalities to a vast range of applications and devices with easy-to-use software application programming interfaces. The firms support high user volumes without affecting deliverability and cost-effectively eliminate performance degradation.Zacks Industry Rank Indicates Bearish TrendsThe Zacks Communication - Infrastructure industry is housed within the broader Zacks Computer and Technology sector. It carries a Zacks Industry Rank #219, which places it in the bottom 13% of more than 250 Zacks industries.The group’s Zacks Industry Rank, which is basically the average of the Zacks Rank of all the member stocks, indicates bleak prospects. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1. The industry’s positioning in the bottom 50% of the Zacks-ranked industries is a result of a negative earnings outlook for the constituent companies in aggregate.Before we present a few communication infrastructure stocks that are well-positioned to outperform the market based on a strong earnings outlook, let’s take a look at the industry’s recent stock market performance and valuation picture.Industry Lags S&P 500 & SectorThe Zacks Communication - Infrastructure industry has lagged the broader Zacks Computer and Technology sector and the S&P 500 composite over the past year.The industry has lost 34.8% over this period against the S&P 500 and the sector’s growth of 6.2% and 12.1%, respectively.Industry's Current ValuationOn the basis of the trailing 12-month enterprise value-to-EBITDA (EV/EBITDA), which is the most appropriate multiple for valuing telecom stocks, the industry is currently trading at 3.86X compared with the S&P 500’s 13.08X. It is also below the sector’s trailing-12-month EV/EBITDA of 11.81X.Over the past five years, the industry has traded as high as 12.05X, as low as 3.85X and at the median of 8.25X.3 Communication - Infrastructure Stocks to Keep a Close Eye OnAnterix: Headquartered in Woodland Park, NJ, Anterix is a premier wireless communications firm. It reportedly holds the largest licensed spectrum in the 900 MHz band, with coverage throughout the United States, Alaska, Hawaii and Puerto Rico. Anterix expects to monetize its spectrum assets to generate long-term value. The stock has delivered an earnings surprise of 37.1%, on average, in the trailing four quarters. Anterix carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.Bandwidth: Founded in 2000 and headquartered in Raleigh, NC, Bandwidth operates as a Communications Platform-as-a-Service provider, offering avant-garde software application programming interfaces for voice and messaging services. It is the only application programming interface platform provider that owns a Tier 1 network with enhanced network capacity, primarily catering to business enterprises.With 8,800 on-net rate centers, it delivers unparalleled network quality and proactively monitors network operations 24/7 to resolve quality issues, capitalizing on an efficient cost structure for seamless connectivity and speed-to-market. The Zacks Consensus Estimate for current-year and next-year earnings has been revised upward by 27.3% and 57.6%, respectively, since August 2022. The stock has delivered an earnings surprise of 372.9%, on average, in the trailing four quarters. It has a VGM Score of A. Bandwidth carries a Zacks Rank #3.DZS Inc.: Founded in 1996 and based in Plano, TX, DZS offers network access solutions and communications platforms for service provider and enterprise networks in the United States, Canada, Latin America, Europe, the Middle East, Africa, Korea and other Asia Pacific countries.The company is likely to benefit from the secular trend of 5G deployment across the globe with healthy traction in the fiber LAN ecosystem. With better visibility and solid order trends, the company is aiming to gain cost efficiencies and introduce products to the market. The stock carries a Zacks Rank #3.Why Haven’t You Looked at Zacks' Top Stocks?Since 2000, our top stock-picking strategies have blown away the S&P's +6.2 average gain per year. Amazingly, they soared with average gains of +46.4%, +49.5% and +55.2% per year. Today you can access their live picks without cost or obligation.See Stocks Free >>Join us on Facebook: https://www.facebook.com/ZacksInvestmentResearch/Zacks Investment Research is under common control with affiliated entities (including a broker-dealer and an investment adviser), which may engage in transactions involving the foregoing securities for the clients of such affiliates.Media ContactZacks Investment Research800-767-3771 ext. [email protected]://www.zacks.comPast performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for information about the performance numbers displayed in this press release.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free reportDZS Inc. (DZSI) : Free Stock Analysis ReportBandwidth Inc. (BAND) : Free Stock Analysis ReportAnterix Inc. (ATEX) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

Zacks Industry Outlook Highlights Anterix, Bandwidth and DZS

https://finance.yahoo.com/news/zacks-industry-outlook-highlights-anterix-090000072.html

256255c5-3965-3623-9ecc-7fd541fad9f3

ATHA

A downtrend has been apparent in Athira Pharma, Inc. (ATHA) lately with too much selling pressure. The stock has declined 24.8% over the past four weeks. However, given the fact that it is now in oversold territory and Wall Street analysts are majorly in agreement about the company's ability to report better earnings than they predicted earlier, the stock could be due for a turnaround.Guide to Identifying Oversold StocksWe use Relative Strength Index (RSI), one of the most commonly used technical indicators, for spotting whether a stock is oversold. This is a momentum oscillator that measures the speed and change of price movements.RSI oscillates between zero and 100. Usually, a stock is considered oversold when its RSI reading falls below 30.Technically, every stock oscillates between being overbought and oversold irrespective of the quality of their fundamentals. And the beauty of RSI is that it helps you quickly and easily check if a stock's price is reaching a point of reversal.So, by this measure, if a stock has gotten too far below its fair value just because of unwarranted selling pressure, investors may start looking for entry opportunities in the stock for benefitting from the inevitable rebound.However, like every investing tool, RSI has its limitations, and should not be used alone for making an investment decision.Here's Why ATHA Could Experience a TurnaroundThe RSI reading of 26.03 for ATHA is an indication that the heavy selling could be in the process of exhausting itself, so the stock could bounce back in a quest for reaching the old equilibrium of supply and demand.This technical indicator is not the only factor that calls for a potential rebound for the stock. There is a fundamental indicator as well. A strong agreement among sell-side analysts covering ATHA in raising earnings estimates for the current year has led to an increase in the consensus EPS estimate by 0.9% over the last 30 days. And an upward trend in earnings estimate revisions usually translates into price appreciation in the near term.Story continuesMoreover, ATHA currently has a Zacks Rank #2 (Buy), which means it is in the top 20% of more than the 4,000 stocks that we rank based on trends in earnings estimate revisions and EPS surprises. This is a more conclusive indication of the stock's potential turnaround in the near term. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free reportAthira Pharma, Inc. (ATHA) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

Down -24.75% in 4 Weeks, Here's Why You Should You Buy the Dip in Athira Pharma, Inc. (ATHA)

https://finance.yahoo.com/news/down-24-75-4-weeks-133506805.html

1da06e4a-d101-3314-8298-a78ab5c6ddd4

ATHA

Athira Pharma, Inc. (ATHA) could be a solid choice for investors given its recent upgrade to a Zacks Rank #2 (Buy). This upgrade primarily reflects an upward trend in earnings estimates, which is one of the most powerful forces impacting stock prices.A company's changing earnings picture is at the core of the Zacks rating. The system tracks the Zacks Consensus Estimate -- the consensus measure of EPS estimates from the sell-side analysts covering the stock -- for the current and following years.The power of a changing earnings picture in determining near-term stock price movements makes the Zacks rating system highly useful for individual investors, since it can be difficult to make decisions based on rating upgrades by Wall Street analysts. These are mostly driven by subjective factors that are hard to see and measure in real time.As such, the Zacks rating upgrade for Athira Pharma, Inc. is essentially a positive comment on its earnings outlook that could have a favorable impact on its stock price.Most Powerful Force Impacting Stock PricesThe change in a company's future earnings potential, as reflected in earnings estimate revisions, and the near-term price movement of its stock are proven to be strongly correlated. The influence of institutional investors has a partial contribution to this relationship, as these big professionals use earnings and earnings estimates to calculate the fair value of a company's shares. An increase or decrease in earnings estimates in their valuation models simply results in higher or lower fair value for a stock, and institutional investors typically buy or sell it. Their transaction of large amounts of shares then leads to price movement for the stock.Fundamentally speaking, rising earnings estimates and the consequent rating upgrade for Athira Pharma, Inc. imply an improvement in the company's underlying business. Investors should show their appreciation for this improving business trend by pushing the stock higher.Story continuesHarnessing the Power of Earnings Estimate RevisionsAs empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock movements, tracking such revisions for making an investment decision could be truly rewarding. Here is where the tried-and-tested Zacks Rank stock-rating system plays an important role, as it effectively harnesses the power of earnings estimate revisions.The Zacks Rank stock-rating system, which uses four factors related to earnings estimates to classify stocks into five groups, ranging from Zacks Rank #1 (Strong Buy) to Zacks Rank #5 (Strong Sell), has an impressive externally-audited track record, with Zacks Rank #1 stocks generating an average annual return of +25% since 1988. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here >>>>.Earnings Estimate Revisions for Athira Pharma, Inc.For the fiscal year ending December 2023, this company is expected to earn -$3.31 per share, which is a change of -30.8% from the year-ago reported number.Analysts have been steadily raising their estimates for Athira Pharma, Inc. Over the past three months, the Zacks Consensus Estimate for the company has increased 0.9%.Bottom LineUnlike the overly optimistic Wall Street analysts whose rating systems tend to be weighted toward favorable recommendations, the Zacks rating system maintains an equal proportion of 'buy' and 'sell' ratings for its entire universe of more than 4000 stocks at any point in time. Irrespective of market conditions, only the top 5% of the Zacks-covered stocks get a 'Strong Buy' rating and the next 15% get a 'Buy' rating. So, the placement of a stock in the top 20% of the Zacks-covered stocks indicates its superior earnings estimate revision feature, making it a solid candidate for producing market-beating returns in the near term.You can learn more about the Zacks Rank here >>>The upgrade of Athira Pharma, Inc. to a Zacks Rank #2 positions it in the top 20% of the Zacks-covered stocks in terms of estimate revisions, implying that the stock might move higher in the near term.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free reportAthira Pharma, Inc. (ATHA) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

All You Need to Know About Athira Pharma, Inc. (ATHA) Rating Upgrade to Buy

https://finance.yahoo.com/news/know-athira-pharma-inc-atha-160006330.html

10ae2651-20cb-3c99-9403-ebf4e6c5ce44

ATI

Metal additive manufacturing and machining capabilities will support contract with BPMIDALLAS, Sept. 7, 2023 /PRNewswire/ -- ATI Inc. (NYSE: ATI) has been awarded a contract by Bechtel Plant Machinery Inc. (BPMI) to support development of highly engineered part solutions in support of the U.S. Naval Nuclear Propulsion Program. To support the contract, which calls for advanced manufacturing methods including metal additive manufacturing, ATI will establish a dedicated additive manufacturing facility outside Fort Lauderdale, Florida.(PRNewsfoto/Allegheny Technologies)ATI will expand upon its traditional capabilities, bringing expertise as a global producer of high-performance materials and solutions to additive manufacturing for aerospace and defense. ATI Additive Manufacturing Products will include advanced large-format metal additive manufacturing, heat treating, machining, and inspection capabilities within a secure facility. It is designed for expansion as ATI continues to extend its additive manufacturing technologies to the assembly of finished components.The new operation brings together the expertise of ATI Forged Products, renowned for producing mission-critical finish-machined forgings, with the powder alloy leadership of ATI Specialty Materials. "With this facility, ATI will maximize its ability to deliver advanced additively manufactured materials and components by turning them into parts that further the defense industry," said Kim Fields, President and Chief Operating Officer of ATI. "Our customers increasingly require more robust and versatile materials and components, produced in an ecologically sustainable manner. This facility will deliver both." It is projected to come online in mid-2024."Within one facility, we're combining the latest additive and advanced manufacturing technologies and ATI's novel powder alloys. We bring decades of experience delivering solutions that power and protect. We're well-positioned to deliver the next generation of manufactured components," said Fields.Story continues"Additive manufacturing offers tremendous advantages to our Program, including accelerating ship construction, improving operational readiness, reducing costs, and an increase in warfighting capability," said Barb Staniscia, President and General Manager of BPMI. "Metal additive manufacturing is driving necessary improvements in lead time, design, and performance for the US Navy.""As our customers blaze the trail of what's possible, ATI is honored to partner with BPMI in developing and producing the materials and components that make these extraordinary achievements possible," said Fields. The investment is included in the company's existing capital expenditure guidance.ATI: Proven to Perform. ATI (NYSE: ATI) is a global producer of high-performance materials and solutions for the global aerospace and defense markets, and critical applications in electronics, medical and specialty energy. We're solving the world's most difficult challenges through materials science. We partner with our customers to deliver extraordinary materials that enable their greatest achievements: their products fly higher and faster, burn hotter, dive deeper, stand stronger and last longer. Our proprietary process technologies, unique customer partnerships and commitment to innovation deliver materials and solutions for today and the evermore challenging environments of tomorrow.  We are proven to perform anywhere. Learn more at ATImaterials.com.Bechtel Plant Machinery Inc. Bechtel is a trusted engineering, construction and project management partner to industry and government. Differentiated by the quality of our people and our relentless drive to deliver the most successful outcomes, we align our capabilities to our customers' objectives to create a lasting positive impact. Since 1898, we have helped customers complete more than 25,000 projects in 160 countries on all seven continents that have created jobs, grown economies, improved the resiliency of the world's infrastructure, increased access to energy, resources, and vital services, and made the world a safer, cleaner place.BPMI is a wholly owned subsidiary of Bechtel National Inc., the U.S. government services division of Bechtel Corp.  BPMI is a project engineering organization supporting the Naval Nuclear Propulsion Program.  They provide design, manufacturing, and supply chain management of the fabrication, testing, delivery, installation, and field support of nuclear power plant components installed in submarines and aircraft carriers. www.BPMIonline.comCisionView original content to download multimedia:https://www.prnewswire.com/news-releases/ati-to-establish-additive-manufacturing-facility-to-serve-us-navy-301921053.htmlSOURCE ATI

PR Newswire

ATI to establish additive manufacturing facility to serve U.S. Navy

https://finance.yahoo.com/news/ati-establish-additive-manufacturing-facility-204000983.html

5bd87147-9af7-3584-86a0-5560e7bddf1f

ATI

A Dallas-based corporation will lease a facility in Margate to produce parts that will be used by nuclear-powered submarines and aircraft carriers. ATI, Inc. (NYSE: ATI) will lease about 130,000 square feet of industrial space in the First Gate Logistics Center at 5301 W.Continue reading

American City Business Journals

Texas corporation to produce parts for U.S. Navy at Broward warehouse facility

https://finance.yahoo.com/m/33f1a5f8-65e0-31b9-b8b8-ad029375dbe2/texas-corporation-to-produce.html

33f1a5f8-65e0-31b9-b8b8-ad029375dbe2

ATKR

HARVEY, Ill., September 05, 2023--(BUSINESS WIRE)--Atkore Inc. ("Atkore," "Company") (NYSE: ATKR) announced today the company was named to the 2023 Fortune Best Workplaces in Manufacturing & Production™. With a rank this year of 13, this is the second consecutive year that Atkore has appeared on the prestigious list.The Best Workplaces in Manufacturing & Production recognition is based on an analysis of survey responses from more than 74,000 current employees at Great Place To Work Certified™ companies within the manufacturing and production industry. Survey responses reflect a comprehensive picture of the workplace experience. Honorees are then selected based on their abilities to offer positive outcomes for their respective employees regardless of job role, race, gender, sexual orientation, work status, or other demographic identifiers."I’m proud that Atkore has fostered an environment where employees are engaged, feel valued, and strive to do better each and every day. This recognition reaffirms that Atkore’s commitment to recruit, develop, and retain the best talent is a differentiator in positioning us as an employer of choice. We celebrate and thank our employees for all they do to earn this incredible honor," said Bill Waltz, Atkore President and CEO.About Atkore Inc.Atkore is forging a future where our employees, customers, suppliers, shareholders, and communities are building better together – a future focused on serving the customer and powering and protecting the world.With a global network of manufacturing and distribution facilities worldwide, Atkore is a leading provider of electrical, safety and infrastructure solutions.View source version on businesswire.com: https://www.businesswire.com/news/home/20230905311261/en/ContactsLisa WinterVice President – Communications708 225 [email protected]

Business Wire

Fortune Media and Great Place To Work Name Atkore to 2023 Best Workplaces in Manufacturing & Production List, Ranking No. 13

https://finance.yahoo.com/news/fortune-media-great-place-name-215200309.html

5c946197-4a7d-3d1c-a95c-abfac52d3ed8

ATKR

The U.S. equity markets have witnessed a steady downtrend over the past few trading days due to increasing concerns that more interest rate hikes are around the corner. The downtrend was further accentuated by the rising 10-year Treasury yield, as oil prices increased after Saudi Arabia and Russia extended voluntary supply cuts. This weighed on the stock market as investors began to worry about the broader outlook of the economy.Stronger-than-expected data, as revealed by recent readings on both the services and manufacturing sectors, raised questions about the U.S. economy. The ISM services index rose 2.1 percentage points to 58.9% in August – a four-month high, while the prices component of the ISM manufacturing index was up 5.8 points to 48.4% – a reversal from the recent trend. These have increased the probability that the Federal Reserve will hike interest rates in November while holding the same steady this month.The focus has now shifted to the Fed’s Sep 19-20 policy meeting. This will likely be another market catalyst, with investors looking for cues about the broader economy and the trajectory of future interest rate hikes.  As investors employ a wait-and-see approach in a classic example of “backing and filling” in the market, they can benefit from “cash cow” stocks that garner higher returns. However, identifying cash-rich stocks alone does not make for a solid investment proposition unless it is backed by attractive efficiency ratios like return on equity (ROE). A high ROE ensures that the company is reinvesting cash at a high rate of return. ON Semiconductor Corporation ON, Dillard's, Inc. DDS, Ryder System, Inc. R, Upbound Group, Inc. UPBD and Atkore Inc. ATKR are some of the stocks with high ROE to profit from.ROE: A Key MetricROE = Net Income/Shareholders’ EquityROE helps investors distinguish profit-generating companies from profit burners and is useful in determining the financial health of a company. In other words, this financial metric enables investors to identify companies that diligently deploy cash for higher returns.Moreover, ROE is often used to compare the profitability of a company with other firms in the industry — the higher, the better. It measures how well a company is multiplying its profits without investing new equity capital and portrays management’s efficiency in rewarding shareholders with attractive risk-adjusted returns.Story continuesScreening ParametersIn order to shortlist stocks that are cash-rich with high ROE, we have added Cash Flow greater than $1 billion and ROE greater than X-Industry as our primary screening parameters. In addition, we have taken a few other criteria into consideration to arrive at a winning strategy.Price/Cash Flow lesser than X-Industry: This metric measures how much investors pay for $1 of free cash flow. A lower ratio indicates that investors need to pay less for a better cash flow-generating stock.Return on Assets (ROA) greater than X-Industry: This metric determines how much profit a company earns for every dollar of asset, which includes cash, accounts receivable, property, equipment, inventory and furniture. The higher the ROA, the better it is for the company.5-Year EPS Historical Growth greater than X-Industry: This criterion indicates that continued earnings momentum has translated into solid cash strength.   Zacks Rank less than or equal to 2: Zacks Rank #1 (Strong Buy) or 2 (Buy) stocks are known to outperform irrespective of the market environment.Here are five of the 14 stocks that qualified the screening:ON Semiconductor: Phoenix, AZ-based onsemi is an original equipment manufacturer of a broad range of discrete and embedded semiconductor components. The company has a very well-diversified business. onsemi generates a significant percentage of revenues from the computing, consumer, industrial, communications and automotive markets.The stock has a long-term earnings growth expectation of 7.5% and delivered a trailing four-quarter earnings surprise of 8.7%, on average. onsemi carries a Zacks Rank #2.Dillard's: Founded in 1938, Dillard's is a large departmental store chain featuring fashion apparel and home furnishings. Its merchandise mix consists of both branded and private-label items. The company’s strategy is to offer more fashion-forward and trendy products to attract customers.  Dillard’s is benefiting from continued momentum in consumer demand and better inventory management. The company delivered a trailing four-quarter earnings surprise of 77.1%, on average. DDS sports a Zacks Rank #1. You can see the complete list of today’s Zacks #1 Rank stocks here.Ryder: Florida-based Ryder is recognized as one of the world's largest providers of integrated logistics and transportation solutions. Ryder’s customers range from small businesses to large international enterprises. They are drawn from a wide variety of industries, the most significant of which are automotive, electronics, transportation, grocery, lumber and wood products, food service and home furnishing.Ryder sports a Zacks Rank #1. It delivered a trailing four-quarter earnings surprise of 11.2%, on average. It has a VGM Score of B.Upbound Group: Headquartered in Plano, TX, Upbound Group (formerly Rent-A-Center, Inc.) is a leading lease-to-own provider with operations in the United States, Puerto Rico and Mexico. The company provides services to a large portion of consumers by providing them access and the opportunity to obtain ownership of high-quality, durable products under a flexible lease purchase agreement with no long-term debt obligation.The company delivered a trailing four-quarter earnings surprise of 25.8%, on average. It has a VGM Score of B. Upbound Group sports a Zacks Rank #1.Atkore: Headquartered in Harvey, IL, Atkore offers conduits, cables and installation accessories in the United States and internationally. With a network of manufacturing and distribution facilities worldwide, Atkore is a leading provider of electrical, safety and infrastructure solutions.Atkore carries a Zacks Rank #2. It delivered a trailing four-quarter earnings surprise of 22.3%, on average. It has a VGM Score of B.You can get the rest of the stocks on this list by signing up now for your 2-week free trial to the Research Wizard and start using this screen in your own trading. Further, you can also create your own strategies and test them first before taking the investment plunge.  The Research Wizard is a great place to begin. It's easy to use. Everything is in plain language. And it's very intuitive. Start your Research Wizard trial today. And the next time you read an economic report, open up the Research Wizard, plug your finds in, and see what gems come out.Click here to sign up for a free trial to the Research Wizard today.Disclosure: Officers, directors and/or employees of Zacks Investment Research may own or have sold short securities and/or hold long and/or short positions in options that are mentioned in this material. An affiliated investment advisory firm may own or have sold short securities and/or hold long and/or short positions in options that are mentioned in this material.Disclosure: Performance information for Zacks’ portfolios and strategies are available at: https://www.zacks.com/performance.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free reportDillard's, Inc. (DDS) : Free Stock Analysis ReportRyder System, Inc. (R) : Free Stock Analysis ReportON Semiconductor Corporation (ON) : Free Stock Analysis ReportAtkore Inc. (ATKR) : Free Stock Analysis ReportUpbound Group, Inc. (UPBD) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

5 Stocks With High ROE to Buy as Rate Hike Probability Rises

https://finance.yahoo.com/news/5-stocks-high-roe-buy-095200800.html

ff2db812-c7ab-3b8d-91cc-91cb0a027a54

ATO

For Immediate ReleaseChicago, IL – September 6, 2023 – Zacks Equity Research shares OI Glass OI as the Bull of the Day and Kforce KFRC as the Bear of the Day. In addition, Zacks Equity Research provides analysis on Atmos Energy ATO, TopBuild BLD and NVIDIA NVDA.Here is a synopsis of all five stocks:Bull of the Day:OI Glass is shaping up to be a sound investment in terms of growth and value landing a Zacks Rank #1 (Strong Buy) and the Bull of the Day.Formally known as Owens-Illinois, OI Glass stock may be a strong option for investors' portfolios as the largest manufacturer of glass containers in the world.Furthermore, the Zacks Glass Products Industry is currently in the top 7% of over 250 Zacks industries indicating now may be an ideal time to buy OI Glass stock as a leader in the space.Undervalued Growth The broader glass industry is starting to experience new heights in its post-pandemic recovery. The operating environment for many glass products companies has stabilized despite what is still challenging macro conditions.However, OI Glass's main initiative is focused on margin expansion to help offset the impact of softer demand and it's starting to show. Fiscal 2023 earnings are now forecasted to soar 39% to $3.21 per share versus EPS of $2.30 last year.Plus, FY24 earnings are expected to be up another 1% and it's noteworthy that OI Glass has now surpassed EPS estimates for 12 consecutive quarters. Annual earnings estimates for both FY23 and FY24 have continued to trend higher over the last 60 days with OI Glass most recently beating Q2 EPS estimates by 6% in early August.Attractive Valuation & Lofty Price TargetMaking OI Glass's growth and bottom line expansion look undervalued is the fact that its stock trades at $19 and just 6.3X forward earnings.Although OI Glass stock is up a respectable +18% YTD, rising earnings estimates support the notion that OI shares are still cheap, offering a 46% discount to its industry average of 11.7X and trading well below the S&P 500's 21.1X.Story continuesMore reassuring is that analysts are starting to take notice as well. To that point, the Average Zacks Price Target of $27.86 a share represents 37% upside for OI Glass stock. Plus, five of the seven brokers surveyed by Zacks.com that cover OI Glass stock have strong buy ratings.Bottom LineIt's often wise for investors to own stock in a company that has dominance or an edge in its market. Even better is when investors can get this exposure at an attractive discount and OI Glass stock seems to fit the bill.Bear of the Day:Investors may want to start monitoring the premium they are paying for Kforce stock as earnings estimate revisions have remained lower over the last two 60 days.The professional staffing services company is coming off of a weaker-than-expected second quarter and there could be more downside risk ahead.Subpar Q2 Results It has been over a month since Kforce reported underwhelming Q2 results in late July but the trend in earnings estimates remains bleak.Kforce stated its second quarter reflected the continuation of an uncertain economic environment with the company needing to adjust its structural costs to align with lower levels of revenue. Notably, Q2 sales of $389.19 million missed estimates by roughly -2% and dropped -11% from the prior-year quarter.More concerning, Q2 earnings of $0.95 per share came up -3% short of expectations and dropped -27% from a year ago. This also marked the second straight quarter of missing top and bottom line expectations.Following Kforce's Q2 report, annual earnings estimates have remained -8% lower for fiscal 2023 and -11% lower for FY24. Although Kforce's stock is still up a modest +12% YTD, shares of KFRC are down -6% since the company's Q2 report and lower EPS estimates are a sign the decline could continue.Less Attractive ValuationDeclining earnings estimates have made Kforce's P/E valuation less attractive relative to its peers. Trading at $61 a share and 19.3X forward earnings, Kforce stock trades slightly beneath the S&P 500's 21.1X but 22% above the Zacks Staffing Firms Industry average of 15.7X.This industry includes companies like GEE Group JOB and Heidrick & Struggles International HSII which have seen their annual earnings estimates go up despite a challenging operating environment and may be better options at the moment.Furthermore, GEE Group and Heidrick & Struggles stock both trade under 10X forward earnings which is a more specific example of why investors might want to monitor the premium they are paying for Kforce stock.Bottom LineKforce should still have the potential to be a meaningful investment as it relates to the business services sector but now doesn't look like a good time to buy. Right now It may be best to stay on the sidelines in regard to Kforce's stock as there are better options in the Zacks Staffing Firms Industry with GEE Group's stock currently boasting a Zacks Rank #1 (Strong Buy) and Heidrick & Struggles stock sporting a Zacks Rank #2 (Buy).Additional content:3 Winners as Cooling Jobs Market Lifts Rate Hike Pause HopesStock investors, lately, have been focusing on the latest economic reports to ascertain the Federal Reserve's near-term monetary policy pronouncements.Fed Chair Jerome Powell, at the conference in Jackson Hole held in late August, said that price pressures may have lessened, but it is not yet at a satisfactory level. After all, the Fed's preferred gauge of inflation remains higher than its desired target of 2%.However, it seems the Fed is largely done with hiking interest rates as the labor market cools down in August. The jobless rate edged up to 3.8% in August, more than analysts' forecast that it will remain at a multi-decade low at 3.5%, added the Bureau of Labor Statistics. Additionally, the real unemployment rate, which includes discouraged and part-time workers, jumped to 7.1%, the highest since May 2022.Job additions, by the way, have continued to slow down since the beginning of the year. The U.S. economy added 187,000 new jobs in August, but that's below the coveted 200,000 mark for the third successive month. Increases in nonfarm payrolls, in reality, were revised substantially lower for June and July.Average hourly earnings may have increased 0.2% month over month in August and 4.3% from a year ago, but remain less than analysts' estimate of 0.3% and 4.4%, respectively, a tell-tale sign that inflationary pressures are certainly poised to diminish further.Softening labor market data coupled with ebbing inflation, thus, signifies that the Fed has successfully orchestrated a soft landing. Around 93% of market participants expect the central bank to keep interest rates unchanged in the September meeting. Similarly, 62% expect rates to remain unaltered in November, per the CME FedWatch Tool.Hence, from an investment perspective, utility companies like Atmos Energy are well-positioned to gain from a rate hike pause. Being capital-intensive, utility companies need funding from external sources, leading to higher levels of debt. So, a lower interest rate environment reduces their debt levels. This, in turn, helps them pay off liabilities and register profits.Encouraging regulatory outcomes and steady customer additions, in the interim, are helping Atmos Energy's performance. The natural gas distributor presently has a Zacks Rank #2 (Buy). The Zacks Consensus Estimate for its current-year earnings has moved up 0.3% over the past 60 days. ATO's expected earnings growth rate for the current year is 8%. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here.The borrowing costs of real estate projects increase along with higher interest rates. Therefore, a rate hike pause bodes well for real estate activities and benefits stocks such as TopBuild.TopBuild, known for providing various building products to the construction industry in the United States, currently has a Zacks Rank #1. The Zacks Consensus Estimate for its current-year earnings has moved up 11% over the past 60 days. BLD's expected earnings growth rate for the current year is 6.1%.Lastly, tech companies like NVIDIA gain from rate hike pauses since their future cash inflows get disrupted if interest rates edge up. Recently, the chipmaker posted blowout quarterly earnings banking on the stupendous growth in the artificial intelligence field (read more: Nvidia & 2 Other AI Stocks You'll Regret Not Buying Soon).NVIDIA, at present, has a Zacks Rank #1. The Zacks Consensus Estimate for its current-year earnings has moved up 36.6% over the past 60 days. NVDA's expected earnings growth rate for the current year is 213.2%.Shares of Atmos Energy, TopBuild and NVIDIA have gained 3%, 89.5%, and 231.9%, respectively, so far this year.Why Haven't You Looked at Zacks' Top Stocks? Since 2000, our top stock-picking strategies have blown away the S&P's +6.2 average gain per year. Amazingly, they soared with average gains of +46.4%, +49.5% and +55.2% per year. Today you can access their live picks without cost or obligation.See Stocks Free >>Media ContactZacks Investment Research800-767-3771 ext. 9339https://www.zacks.comZacks.com provides investment resources and informs you of these resources, which you may choose to use in making your own investment decisions. Zacks is providing information on this resource to you subject to the Zacks "Terms and Conditions of Service" disclaimer. www.zacks.com/disclaimer.Past performance is no guarantee of future results. Inherent in any investment is the potential for loss.This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performancefor information about the performance numbers displayed in this press release.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free reportO-I Glass, Inc. (OI) : Free Stock Analysis ReportNVIDIA Corporation (NVDA) : Free Stock Analysis ReportAtmos Energy Corporation (ATO) : Free Stock Analysis ReportKforce, Inc. (KFRC) : Free Stock Analysis ReportTopBuild Corp. (BLD) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

OI Glass and Kforce have been highlighted as Zacks Bull and Bear of the Day

https://finance.yahoo.com/news/oi-glass-kforce-highlighted-zacks-105800743.html

06377943-314c-3b85-a3ec-bac142bb976f

ATO

Atmos Energy (NYSE:ATO) has had a rough month with its share price down 2.8%. But if you pay close attention, you might find that its key financial indicators look quite decent, which could mean that the stock could potentially rise in the long-term given how markets usually reward more resilient long-term fundamentals. Specifically, we decided to study Atmos Energy's ROE in this article.ROE or return on equity is a useful tool to assess how effectively a company can generate returns on the investment it received from its shareholders. In other words, it is a profitability ratio which measures the rate of return on the capital provided by the company's shareholders. View our latest analysis for Atmos Energy How To Calculate Return On Equity?The formula for ROE is:Return on Equity = Net Profit (from continuing operations) ÷ Shareholders' EquitySo, based on the above formula, the ROE for Atmos Energy is:7.9% = US$839m ÷ US$11b (Based on the trailing twelve months to June 2023).The 'return' is the yearly profit. So, this means that for every $1 of its shareholder's investments, the company generates a profit of $0.08.What Is The Relationship Between ROE And Earnings Growth?Thus far, we have learned that ROE measures how efficiently a company is generating its profits. Based on how much of its profits the company chooses to reinvest or "retain", we are then able to evaluate a company's future ability to generate profits. Generally speaking, other things being equal, firms with a high return on equity and profit retention, have a higher growth rate than firms that don’t share these attributes.Atmos Energy's Earnings Growth And 7.9% ROEOn the face of it, Atmos Energy's ROE is not much to talk about. Yet, a closer study shows that the company's ROE is similar to the industry average of 8.2%. On the other hand, Atmos Energy reported a moderate 11% net income growth over the past five years. Taking into consideration that the ROE is not particularly high, we reckon that there could also be other factors at play which could be influencing the company's growth. For example, it is possible that the company's management has made some good strategic decisions, or that the company has a low payout ratio.Story continuesAs a next step, we compared Atmos Energy's net income growth with the industry and found that the company has a similar growth figure when compared with the industry average growth rate of 8.9% in the same period.past-earnings-growthThe basis for attaching value to a company is, to a great extent, tied to its earnings growth. The investor should try to establish if the expected growth or decline in earnings, whichever the case may be, is priced in. Doing so will help them establish if the stock's future looks promising or ominous. Is Atmos Energy fairly valued compared to other companies? These 3 valuation measures might help you decide.Is Atmos Energy Using Its Retained Earnings Effectively?Atmos Energy has a healthy combination of a moderate three-year median payout ratio of 48% (or a retention ratio of 52%) and a respectable amount of growth in earnings as we saw above, meaning that the company has been making efficient use of its profits.Moreover, Atmos Energy is determined to keep sharing its profits with shareholders which we infer from its long history of paying a dividend for at least ten years. Based on the latest analysts' estimates, we found that the company's future payout ratio over the next three years is expected to hold steady at 50%. Accordingly, forecasts suggest that Atmos Energy's future ROE will be 8.8% which is again, similar to the current ROE.ConclusionOverall, we feel that Atmos Energy certainly does have some positive factors to consider. With a high rate of reinvestment, albeit at a low ROE, the company has managed to see a considerable growth in its earnings. We also studied the latest analyst forecasts and found that the company's earnings growth is expected be similar to its current growth rate. To know more about the company's future earnings growth forecasts take a look at this free report on analyst forecasts for the company to find out more.Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

Simply Wall St.

Declining Stock and Decent Financials: Is The Market Wrong About Atmos Energy Corporation (NYSE:ATO)?

https://finance.yahoo.com/news/declining-stock-decent-financials-market-123443704.html

ea643f19-41dd-3d46-b438-737513252c40

ATR

It has been about a month since the last earnings report for Sealed Air (SEE). Shares have lost about 10.3% in that time frame, underperforming the S&P 500.Will the recent negative trend continue leading up to its next earnings release, or is Sealed Air due for a breakout? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important catalysts.Sealed Air Q2 Earnings Beat Estimates, Revenues MissSealed Air has reported second-quarter 2023 adjusted earnings per share of 80 cents, which surpassed the Zacks Consensus Estimate of 68 cents. The bottom line fell 21% year over year due to lower volumes.Including special items, the company delivered net earnings per share of 65 cents compared with the prior-year quarter’s 77 cents.Total revenues were down 2.6% year over year to $1,381 million in the reported quarter. The top line missed the Zacks Consensus Estimate of $1,416 million.Currency had an unfavorable impact of 1.7%, while price had a favorable impact of 2%. Meanwhile, volumes were down 8.2% year over year. Our model predicted currency to have an unfavorable impact of 1% and pricing to favor sales by 1.6%. We predicted volumes to decrease 6.5% year over year. The variance is mainly due to the ongoing destocking in the industrial and fulfillment sectors.Sales in the APAC (in constant dollars) rose 6% year over year, while sales in the Americas witnessed a decline of 2%. Sales in EMEA were flat year over year.Costs and MarginsThe cost of sales fell 1.7% year over year to $962 million. The gross profit was $418 million, which marked a 4.6% decline from the year-ago quarter’s $438 million. The gross margin contracted to 30.3% from the prior-year quarter’s 30.9%.SG&A expenses decreased 6.8% from the last-year quarter to $186 million. Adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) were around $280 million in the quarter, which decreased 4.5% from the prior-year period. The adjusted EBITDA margin was 20.3% compared with the prior-year quarter’s 20.7%, courtesy of lower volumes, partially offset by earnings generated from Liquibox.Story continuesSegmental PerformanceFood: Net sales increased 9% year over year to $881 million. However, the figure missed our estimate of $904 million. Volumes were flat, while pricing actions had a favorable impact of 3%. We expected volume to be down 1% and pricing to be up 1.9%. Currency fluctuations had an unfavorable impact of 3%. Our model predicted currency to negatively impact the segment’s sales by 0.4%.Adjusted EBITDA was $191 million, up 14% from the last year’s quarter, owing to gains from the Liquibox acquisition. The reported figure also surpassed our estimate of $188 million.Protective: The segment reported net sales of $500 million in the quarter under review, down 18% from the prior-year quarter. We expected net sales of $525 million. Currency had an unfavorable impact of 0.4%. Pricing had a positive impact of 1%, while volumes fell 19% due to continued market pressures, and destocking in the industrial and fulfillment sectors.Our model predicted currency to negatively impact by 1.7%, and price to positively impact by 1.2%. We expected volume to fall 13.8% in the quarter. The segment’s adjusted EBITDA decreased 24% year over year to $96 million, driven by lower volumes. We expected adjusted EBITDA to be $105 million.Financial UpdatesCash used in operating activities was around $7 million in the first half of 2023 against an inflow of $213 million in the prior-year comparable period. The company paid out cash dividends of $60 million in the first six months of 2023.As of Jun 30, 2023, Sealed Air’s net debt was $4.7 billion, up from $3.2 billion as of Dec 31, 2022. As of the end of the second quarter of 2023, the company had $1.10 billion of liquidity available, which comprised $285 million in cash and $811 million of undrawn, committed credit facilities.2023 GuidanceFor 2023, Sealed Air expects net sales between $5.40 and $5.60, down from the previously stated $5.85-$6.10 billion. SEE anticipates an adjusted EBITDA of $1.075-$1.125  billion compared with the previously stated $1.25-$1.30 billion. Adjusted earnings per share (EPS) are forecast to be $2.75-$2.95. Previously, the company expected an adjusted EPS of $3.50-$3.80.How Have Estimates Been Moving Since Then?In the past month, investors have witnessed a downward trend in fresh estimates.The consensus estimate has shifted -32.91% due to these changes.VGM ScoresCurrently, Sealed Air has a subpar Growth Score of D, a grade with the same score on the momentum front. Charting a somewhat similar path, the stock was allocated a grade of C on the value side, putting it in the middle 20% for this investment strategy.Overall, the stock has an aggregate VGM Score of D. If you aren't focused on one strategy, this score is the one you should be interested in.OutlookEstimates have been broadly trending downward for the stock, and the magnitude of these revisions indicates a downward shift. It's no surprise Sealed Air has a Zacks Rank #5 (Strong Sell). We expect a below average return from the stock in the next few months.Performance of an Industry PlayerSealed Air is part of the Zacks Containers - Paper and Packaging industry. Over the past month, AptarGroup (ATR), a stock from the same industry, has gained 3.8%. The company reported its results for the quarter ended June 2023 more than a month ago.AptarGroup reported revenues of $895.91 million in the last reported quarter, representing a year-over-year change of +6.1%. EPS of $1.23 for the same period compares with $0.96 a year ago.For the current quarter, AptarGroup is expected to post earnings of $1.27 per share, indicating a change of +33.7% from the year-ago quarter. The Zacks Consensus Estimate has changed -0.5% over the last 30 days.AptarGroup has a Zacks Rank #2 (Buy) based on the overall direction and magnitude of estimate revisions. Additionally, the stock has a VGM Score of B.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free reportSealed Air Corporation (SEE) : Free Stock Analysis ReportAptarGroup, Inc. (ATR) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

Sealed Air (SEE) Down 10.3% Since Last Earnings Report: Can It Rebound?

https://finance.yahoo.com/news/sealed-air-see-down-10-153051639.html

a30a5a1d-6d7d-3ae9-88c4-f73cc4743f8a

ATR

A month has gone by since the last earnings report for Berry Global (BERY). Shares have lost about 8.3% in that time frame, underperforming the S&P 500.Will the recent negative trend continue leading up to its next earnings release, or is Berry Global due for a breakout? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important drivers.Berry Global Q3 Earnings & Revenues Miss, Decline Y/YBerry Global reported third-quarter fiscal 2023 (ended Jul 1, 2023) adjusted earnings (excluding 72 cents from non-recurring items) of $1.90 per share, which missed the Zacks Consensus Estimate of $1.97. The bottom line decreased 6.4% year over year, primarily due to weakness in the consumer and industrial end markets.  Net sales of $3,229 million missed the Zacks Consensus Estimate of $3,461.6 million. The top line decreased 13.3% year over year due to a 7% dip in volumes, and lower selling prices, which declined $250 million due to the pass-through of lower resin costs. Reduced demand in the consumer and industrial markets led to the volume decline.In the fiscal third quarter, Berry Global’s cost of goods sold decreased 14.7% to $2,649 million. Selling, general and administrative expenses remained flat year over year at $215 million. Berry Global reported an operating EBITDA of $522 million, down 5.1% year over year. Adjusted operating income in the quarter declined 9.2% year over year to $315 million.Segmental DiscussionConsumer Packaging – International sales were $1,036 million (accounting for 32.1% of total sales), down 5.5% from the year-ago quarter. Our estimate for segmental revenues was $1056.7 million. The decline in sales was due to lower selling prices and volumes as a result of weakness in the industrial and consumer markets. Operating income of $68 million fell 17.1% year over year.Consumer Packaging – North America’s sales were $798 million (accounting for 24.7% of total sales), down 13.9% year over year due to a 4% decline in volumes. Our estimate for segmental revenues was $863.8 million. Operating income dropped 14.4% year over year to $89 million.Revenues generated from the Health, Hygiene & Specialties segment amounted to $657 million (accounting for 20.3% of total sales), down 16.6% year over year due to a 7% decrease in volumes as a result of lower demand in filtration and building and construction, and other specialty markets. Operating income of $22 million dropped 60.7% year over year.Revenues from the Engineered Materials segment fell 19.3% year over year to $738 million (accounting for 22.8% of total revenues) due to an 11% decline in volumes as a result of inventory destocking, weakness in the European industrial markets and decreased selling prices. Operating income of $88 million decreased 6.4% year over year.Story continuesBalance Sheet and Cash FlowAt the end of third quarter of fiscal 2023, Berry Global had cash and cash equivalents of $633 million compared with $1,410 million at the end of fiscal 2022. Current and long-term debt totaled $9,212 million compared with $9,255 million at the end of fiscal 2022.At the end of fiscal third quarter, Berry Global generated net cash of $490 million from operating activities compared with $345 million in the year-ago period. Capital expenditure totaled $560 million compared with $556 million in the year-ago quarter. Adjusted free cash outflow at the end of fiscal third quarter was $70 million compared with $211 million in the year-ago period.In the first nine months of fiscal 2023, BERY repurchased 6.9 million shares for approximately $416 million. It also paid dividends of $97 million in the same period. The company expects to repurchase shares worth at least $600 million in fiscal 2023.FY23 GuidanceBerry Global expects adjusted earnings of $7.30 per share in fiscal 2023. The Zacks Consensus Estimate for the same stands at $7.33.BERY anticipates cash flow from operations of $1.45 billion in fiscal 2023. It expects free cash flow of $800 in the same period.How Have Estimates Been Moving Since Then?It turns out, estimates review have trended upward during the past month.VGM ScoresAt this time, Berry Global has a poor Growth Score of F, a grade with the same score on the momentum front. However, the stock was allocated a grade of A on the value side, putting it in the top 20% for this investment strategy.Overall, the stock has an aggregate VGM Score of C. If you aren't focused on one strategy, this score is the one you should be interested in.OutlookEstimates have been broadly trending upward for the stock, and the magnitude of these revisions looks promising. Notably, Berry Global has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.Performance of an Industry PlayerBerry Global is part of the Zacks Containers - Paper and Packaging industry. Over the past month, AptarGroup (ATR), a stock from the same industry, has gained 2.6%. The company reported its results for the quarter ended June 2023 more than a month ago.AptarGroup reported revenues of $895.91 million in the last reported quarter, representing a year-over-year change of +6.1%. EPS of $1.23 for the same period compares with $0.96 a year ago.AptarGroup is expected to post earnings of $1.27 per share for the current quarter, representing a year-over-year change of +33.7%. Over the last 30 days, the Zacks Consensus Estimate has changed -0.5%.The overall direction and magnitude of estimate revisions translate into a Zacks Rank #2 (Buy) for AptarGroup. Also, the stock has a VGM Score of B.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free reportBerry Global Group, Inc. (BERY) : Free Stock Analysis ReportAptarGroup, Inc. (ATR) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

Berry Global (BERY) Down 8.3% Since Last Earnings Report: Can It Rebound?

https://finance.yahoo.com/news/berry-global-bery-down-8-153029717.html

8f930a16-7e0f-3a1f-95af-6740d697e0f9

ATRI

In order to justify the effort of selecting individual stocks, it's worth striving to beat the returns from a market index fund. But if you try your hand at stock picking, your risk returning less than the market. Unfortunately, that's been the case for longer term Atrion Corporation (NASDAQ:ATRI) shareholders, since the share price is down 23% in the last three years, falling well short of the market return of around 30%. And over the last year the share price fell 22%, so we doubt many shareholders are delighted.After losing 9.2% this past week, it's worth investigating the company's fundamentals to see what we can infer from past performance. Check out our latest analysis for Atrion In his essay The Superinvestors of Graham-and-Doddsville Warren Buffett described how share prices do not always rationally reflect the value of a business. One way to examine how market sentiment has changed over time is to look at the interaction between a company's share price and its earnings per share (EPS).Atrion saw its EPS decline at a compound rate of 6.6% per year, over the last three years. This reduction in EPS is slower than the 9% annual reduction in the share price. So it seems the market was too confident about the business, in the past.You can see below how EPS has changed over time (discover the exact values by clicking on the image).earnings-per-share-growthWe're pleased to report that the CEO is remunerated more modestly than most CEOs at similarly capitalized companies. But while CEO remuneration is always worth checking, the really important question is whether the company can grow earnings going forward. This free interactive report on Atrion's earnings, revenue and cash flow is a great place to start, if you want to investigate the stock further.What About Dividends?It is important to consider the total shareholder return, as well as the share price return, for any given stock. The TSR is a return calculation that accounts for the value of cash dividends (assuming that any dividend received was reinvested) and the calculated value of any discounted capital raisings and spin-offs. Arguably, the TSR gives a more comprehensive picture of the return generated by a stock. In the case of Atrion, it has a TSR of -21% for the last 3 years. That exceeds its share price return that we previously mentioned. The dividends paid by the company have thusly boosted the total shareholder return.Story continuesA Different PerspectiveInvestors in Atrion had a tough year, with a total loss of 20% (including dividends), against a market gain of about 2.8%. However, keep in mind that even the best stocks will sometimes underperform the market over a twelve month period. Regrettably, last year's performance caps off a bad run, with the shareholders facing a total loss of 3% per year over five years. Generally speaking long term share price weakness can be a bad sign, though contrarian investors might want to research the stock in hope of a turnaround. While it is well worth considering the different impacts that market conditions can have on the share price, there are other factors that are even more important. Even so, be aware that Atrion is showing 3 warning signs in our investment analysis , and 2 of those are a bit unpleasant...If you would prefer to check out another company -- one with potentially superior financials -- then do not miss this free list of companies that have proven they can grow earnings.Please note, the market returns quoted in this article reflect the market weighted average returns of stocks that currently trade on American exchanges.Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

Simply Wall St.

Atrion (NASDAQ:ATRI) sheds US$91m, company earnings and investor returns have been trending downwards for past three years

https://finance.yahoo.com/news/atrion-nasdaq-atri-sheds-us-173237113.html

15eba927-ef6b-321b-951a-37caf1b71612

ATRI

Investors who take an interest in Atrion Corporation (NASDAQ:ATRI) should definitely note that the Independent Director, Preston Athey, recently paid US$523 per share to buy US$105k worth of the stock. That's a very decent purchase to our minds and it grew their holding by a solid 23%. View our latest analysis for Atrion Atrion Insider Transactions Over The Last YearNotably, that recent purchase by Preston Athey is the biggest insider purchase of Atrion shares that we've seen in the last year. So it's clear an insider wanted to buy, even at a higher price than the current share price (being US$475). Their view may have changed since then, but at least it shows they felt optimistic at the time. We always take careful note of the price insiders pay when purchasing shares. It is encouraging to see an insider paid above the current price for shares, as it suggests they saw value, even at higher levels. The only individual insider to buy over the last year was Preston Athey.The chart below shows insider transactions (by companies and individuals) over the last year. If you click on the chart, you can see all the individual transactions, including the share price, individual, and the date!insider-trading-volumeAtrion is not the only stock that insiders are buying. For those who like to find winning investments this free list of growing companies with recent insider purchasing, could be just the ticket.Insider Ownership Of AtrionMany investors like to check how much of a company is owned by insiders. We usually like to see fairly high levels of insider ownership. It's great to see that Atrion insiders own 16% of the company, worth about US$137m. I like to see this level of insider ownership, because it increases the chances that management are thinking about the best interests of shareholders.What Might The Insider Transactions At Atrion Tell Us?It is good to see the recent insider purchase. And the longer term insider transactions also give us confidence. Along with the high insider ownership, this analysis suggests that insiders are quite bullish about Atrion. Nice! So these insider transactions can help us build a thesis about the stock, but it's also worthwhile knowing the risks facing this company. For instance, we've identified 3 warning signs for Atrion (2 are potentially serious) you should be aware of.Story continuesOf course Atrion may not be the best stock to buy. So you may wish to see this free collection of high quality companies.For the purposes of this article, insiders are those individuals who report their transactions to the relevant regulatory body. We currently account for open market transactions and private dispositions, but not derivative transactions.Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

Simply Wall St.

Atrion Independent Director Acquires 23% More Stock

https://finance.yahoo.com/news/atrion-independent-director-acquires-23-100856302.html

0a179933-2e9c-35f4-9f43-f9db33a087e9

ATRO

EAST AURORA, N.Y., August 08, 2023--(BUSINESS WIRE)--Astronics Corporation (Nasdaq: ATRO), a leading provider of advanced technologies for global aerospace, defense, and other mission critical industries, today announced it has initiated an at-the-market ("ATM") equity offering program for the sale from time to time of shares of the Company’s common stock (the "Common Stock") having an aggregate sales price of up to $30.0 million. The timing and volume of any sales of shares of Common Stock under the ATM program will depend on a variety of factors to be determined by the Company. Shares of Common Stock under the ATM program will be offered through Wells Fargo Securities, LLC ("Wells Fargo") and HSBC Securities (USA) Inc. ("HSBC"), as sales agents. Wells Fargo and HSBC may sell shares of Common Stock by any lawful method deemed to be an "at-the-market offering" defined by Rule 415(a)(4) of the Securities Act of 1933, as amended, including without limitation sales made directly on the Nasdaq Global Select Market, on any other existing trading market for the shares of Common Stock, to or through a market maker or in negotiated transactions. Sales may be made at market prices prevailing at the time of the sale, at prices related to prevailing market prices or at negotiated prices and, as a result, sales prices may vary.The prospectus supplement filed today adds to, updates or otherwise changes information contained in the existing prospectus contained in a shelf registration statement on Form S-3 (File No. 333-272423), which was declared effective by the Securities and Exchange Commission (the "SEC") on June 20, 2023. Prospective investors should read the prospectus, the prospectus supplement and other documents the Company has filed with the SEC (some of which are incorporated by reference into the prospectus and prospectus supplement) for more complete information about the Company and the ATM program, including the risks associated with investing in the Company. Copies of the prospectus supplement and related prospectus may be obtained from Wells Fargo Securities LLC, 500 West 33rd Street, New York, New York 10001, Attention: Equity Syndicate Department (fax no: (212) 214-5918) and from HSBC Securities (USA) Inc., ([email protected]). Investors may also obtain copies of the prospectus supplement and accompanying prospectus relating to the ATM offering without charge by visiting the SEC’s website at www.sec.gov.Story continuesThis press release is for informational purposes only and is not an offer to sell or the solicitation of an offer to buy any shares of Common Stock of the Company, which is made only by means of a prospectus supplement and related prospectus. There will be no sale of shares of Common Stock in any jurisdiction in which the offer, solicitation of an offer to buy or sale would be unlawful.About Astronics CorporationAstronics Corporation (Nasdaq: ATRO) serves the world’s aerospace, defense, and other mission critical industries with proven, innovative technology solutions. Astronics works side-by-side with customers, integrating its array of power, connectivity, lighting, structures, interiors, and test technologies to solve complex challenges. For over 50 years, Astronics has delivered creative, customer-focused solutions with exceptional responsiveness. Today, global airframe manufacturers, airlines, militaries, completion centers and Fortune 500 companies rely on the collaborative spirit and innovation of Astronics. The Company’s strategy is to increase its value by developing technologies and capabilities that provide innovative solutions to its targeted markets.Forward Looking StatementsThis news release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and such statements are subject to the safe harbor created by those sections and the Private Securities Litigation Reform Act of 1995, as amended. One can identify these forward-looking statements by the use of the words "expect," "anticipate," "plan," "may," "will," "estimate" or other similar expressions and includes all statements regarding the aggregate sales price of shares of Common Stock to be sold under the ATM program, the prices of any shares of Common Stock to be sold under the ATM program and the timing of any sales under the ATM program. Because such statements apply to future events, they are subject to risks and uncertainties that could cause actual results to differ materially from those contemplated by the statements. Important factors that could cause actual results to differ materially from what may be stated here include the continued impact of supply chain constraints, trend in growth with passenger power and connectivity on airplanes, the state of the aerospace and defense industries, the market acceptance of newly developed products, internal production capabilities, the timing of orders received, the status of customer certification processes and delivery schedules, the demand for and market acceptance of new or existing aircraft which contain the Company’s products, the need for new and advanced test and simulation equipment, customer preferences and relationships, and other factors which are described in filings by the Company with the SEC. Except as required by applicable law, the Company assumes no obligation to update forward-looking information in this news release whether to reflect changed assumptions, the occurrence of unanticipated events or changes in future operating results, financial conditions or prospects, or otherwise.For more information on Astronics and its solutions, visit Astronics.com.View source version on businesswire.com: https://www.businesswire.com/news/home/20230808042960/en/ContactsCompany Contact: David C. BurneyExecutive Vice President and [email protected] +1.716.805.1599Investor Contact: Kei Advisors LLCDeborah K. Pawlowski, Investor [email protected] +1.716.843.3908

Business Wire

Astronics Corporation Initiates $30.0 Million At-The-Market Program

https://finance.yahoo.com/news/astronics-corporation-initiates-30-0-203900658.html

6f0efe69-c510-3cd2-b161-987a8eee0feb

ATRO

EAST AURORA, N.Y., August 22, 2023--(BUSINESS WIRE)--Astronics Corporation (Nasdaq: ATRO), a leading provider of advanced technologies for global aerospace, defense, and other mission critical industries, announced today that it is now under contract with Bell to support development of the V-280 Valor for the U.S. Army Future Long Range Assault Aircraft (FLRAA) program. A member of Team Valor, Astronics has been working with Bell for several years by supplying the electrical power and distribution system for the demonstrator aircraft. The current agreement will further mature the system for qualification and certification. This award follows the Army’s selection of the V-280 as the winner of its FLRAA competition and the planned replacement for the UH-60 Blackhawk.Peter J. Gundermann, Chairman, President, and CEO of Astronics, said, "We have enjoyed a close working relationship with Bell for many years, providing innovative solutions for their aircraft. Our CorePower® technology is designed into the Bell 505, Bell 525 aircraft, and V-280 Valor. We congratulate Bell on their selection for this program and are honored to work with them to help deliver the V-280 weapon system to the U.S. Army."The full development program contract is anticipated to include finalizing the power system design and development, system integration services, and preliminary flight hardware deliveries. The V-280 aircraft will benefit from Astronics CorePower® family of solutions, employing solid state electronic circuit breaker and power conversion technology to deliver clean, intelligent, and efficient power that improves aircraft performance, supports the U.S. Army Modular Open Systems Architecture (MOSA) initiatives, and reduces overall system weight.About Astronics CorporationAstronics Corporation (Nasdaq: ATRO) serves the world’s aerospace, defense, and other mission critical industries with proven, innovative technology solutions. Astronics works side-by-side with customers, integrating its array of power, connectivity, lighting, structures, interiors, and test technologies to solve complex challenges. For over 50 years, Astronics has delivered creative, customer-focused solutions with exceptional responsiveness. Today, global airframe manufacturers, airlines, militaries, completion centers and Fortune 500 companies rely on the collaborative spirit and innovation of Astronics. The Company’s strategy is to increase its value by developing technologies and capabilities that provide innovative solutions to its targeted markets.Story continuesFor more information on Astronics and its solutions, visit Astronics.com.Safe Harbor StatementThis news release contains forward-looking statements as defined by the Securities Exchange Act of 1934. One can identify these forward-looking statements by the use of the words "expect," "anticipate," "plan," "may," "will," "estimate" or other similar expressions and include all statements with regard to continued development of the FLRAA program and any additional contract or details related to its development and production, rates of growth and the expectations of demand by customers and markets. Because such statements apply to future events, they are subject to risks and uncertainties that could cause actual results to differ materially from those contemplated by the statements. Important factors that could cause actual results to differ materially from what may be stated here include the continued global impact of COVID-19 and related governmental and other actions taken in response, trend in growth with passenger power and connectivity on airplanes, the state of the aerospace and defense industries, the market acceptance of newly developed products, internal production capabilities, the timing of orders received, the status of customer certification processes and delivery schedules, the demand for and market acceptance of new or existing aircraft which contain the Company’s products, the need for new and advanced test and simulation equipment, customer preferences and relationships, and other factors which are described in filings by Astronics with the Securities and Exchange Commission. The Company assumes no obligation to update forward-looking information in this news release whether to reflect changed assumptions, the occurrence of unanticipated events or changes in future operating results, financial conditions or prospects, or otherwise.View source version on businesswire.com: https://www.businesswire.com/news/home/20230822176805/en/ContactsCompany: David C. BurneyExecutive Vice President and [email protected] +1.716.805.1599Investor: Kei Advisors LLCDeborah K. PawlowskiInvestor [email protected] +1.716.843.3908

Business Wire

Astronics Corporation Selected by Bell to Develop Electrical Power and Distribution System for U.S. Army Future Long-Range Assault Aircraft

https://finance.yahoo.com/news/astronics-corporation-selected-bell-develop-132000456.html

e7d03856-ccd2-3aa0-8fdd-e4a0ad9477f1

ATVI

(Bloomberg) -- Microsoft Corp. Xbox chief Phil Spencer said the software giant continues to work with UK regulators to sort out the remaining hurdles to its $69 billion purchase of Activision Blizzard Inc., and the company is confident it can get the deal over the line.Most Read from BloombergTrudeau Is Stuck in India With Faulty Aircraft After Hearing Criticism From ModiIndia’s G-20 Win Shows US Learning How to Counter China RiseMeloni Tells China That Italy Plans to Exit Belt and RoadBiden Doubts China Able to Invade Taiwan Amid Economic WoesBoss of Failed Crypto Exchange Gets 11,000-Year Sentence“We’re working cooperatively with the regulators,” Spencer said Wednesday in an interview with Bloomberg Television, referring to the UK’s Competition and Markets Authority as well as regulators in the US and Europe. “We remain confident in the work that we’re doing with the CMA and the European Commission and here with the FTC in the US, that we will close this acquisition.”In July, Activision agreed to give Microsoft until Oct. 18 to resolve the remaining regulatory issues and close the transaction, which would be the biggest video-game deal of all time.Read More: Microsoft Bluffed to Stage One of the Biggest M&A Comebacks EverThe CMA’s initial objection centered on worries that the acquisition could give Microsoft the ability to control the nascent but fast-growing market for cloud gaming. In a bid to assuage those concerns, Microsoft last month struck a deal to give French video-game publisher Ubisoft Entertainment SA cloud-streaming rights for Activision games. In a rare move, the CMA agreed to reconsider approving the transaction, setting a new deadline — also Oct. 18 — for an initial ruling on a new probe.In the interview, Spencer also said the new Starfield game, from Xbox’s ZeniMax studio, has been in preview for a week and is already the company’s most-played exclusive game from the current generation of console titles.Story continuesThe Hurdles That Remain for Microsoft-Activision Deal: QuickTake--With assistance from Dina Bass.(Updates to add details on cloud-gaming sale in fourth paragraph.)Most Read from Bloomberg BusinessweekHuawei’s Surprise Phone Gives Ammo to Biden Doubters on ChinaLyme Disease Has Exploded, and a New Vaccine Is (Almost) Here©2023 Bloomberg L.P.

Bloomberg

Microsoft Xbox Chief ‘Confident’ on Closing Activision Deal

https://finance.yahoo.com/news/microsoft-xbox-chief-confident-closing-172708371.html

81b006ba-a253-3c48-9037-59564f810560

ATVI

On Wednesday, GameStop Corporation (NYSE: GME) exceeded Wall Street estimates with its top and bottom line second quarter results. GameStop shares rose almost 6% in extended trading as the reported quarter showed signs that efforts under the leadership of Ryan Cohen to boost the company’s digital presence are working as intended as Game Stop reported a narrower than expected loss amid increased gaming demand as gamers splurged on F1 23 from Electronic Arts (NASDAQ: EA) and Diablo IV published by Activision Blizzard (NASDAQ: ATVI) that should soon get acquired by no other than Microsoft Corporation (NASDAQ: MSFT).Second Quarter HighlightsDuring the quarter that ended on July 29th, Game Stop reported its revenue rose about 2% to $1.16 billion, topping $1.14 billion that three analysts polled by LSEG estimated. The Texas-based company attributed the rise in revenue to "significant software release" along with increased sales of new gaming hardware in several international segments. Software and collectibles sales made about 49% of total revenue, while the remaining half was made of hardware sales that remained flat. However, software sales rose 25% but they were offset by a 24% decline in collectibles.With efficient cost-cutting efforts, Game Stop reduced its selling, general and administrative expenses to $322.5 million, making 27.7% of net sales while during last year’s comparable quarter, these expenses amounted to $387.5 million, making up about 34.1% of net sales. But Game Stop also had transition costs $4.3 million from its store closures in Europe where it has been lowering its footprint as Cohen steered the company away from physical stores to an increased digital presence in an effort to rebound from the recent sales slump caused by console users and gamers downloading games over the internet instead of buying hard copies that GameStop sells. Also, publishers have been releasing more free games to attract smartphone and tablet gamers and altered their revenue models to rely more on advertising and sales of virtual goods.Story continuesIntense Dynamics Is In The Air At The Gaming WorldGaming has even taken center stage at Microsoft that is trying to finalize its $68.7 billion acquisition of Activision Blizzard. Although the deal has encountered several regulatory setbacks, it is getting closer to a close. Together, Microsoft and Activision Blizzard agreed to push the deadline to complete the deal to October 18th. Last month, Microsoft submitted a proposal to the U.K.’s Competition and Markets Authority with which it agrees to transfer cloud streaming rights to PC and console games that Activision Blizzard published to Ubisoft for 15 years, in case the acquisition goes through.Meanwhile, one of the world’s largest publishers, Electronic Arts, is focusing on growing its existing franchises and disproportionately invest in its successful IPs to create a new world that generates more engagement. Electronic Arts CEO Andrew Wilson spoke at a recent conference, and although many of its franchises like The Sims, Madden and Battlefield already boast substantial communities, Wilson expressed particular enthusiasm around the FIFA franchise that is in for rebranding with the launch of EA Sports FC 24. The purpose of this move is to empower Electronic Arts to go beyond the game as the rebranding is expected to open new collaboration and expansion opportunities: from welcoming commercial partners to expanding into football-related ventures, as well as operating at a faster pace.FIFA 23 already achieved impressive engagement levels that resulted in record-breaking sales and increased playtime.Meanwhile, GameStop’s Corporate Structure Is Still In The WorksAs a result of the shake up in the gaming universe, GameStop CFO stepped down last month after the board ousted the fifth CEO in five years back in June. But Ryan Cohen, now executive chairman and company’s largest shareholder, seems to have a good game plan in the works. Mark H. Robinson, general counsel and secretary, took on additional roles of general manager and principal executive director and Daniel Moore has been appointed as principal accounting officer and interim principal financial officer. Back in January, GameStop came back to quarterly profit after seven straight quarter of losses, and now it continues its turnaround journey without a CEO and CFO as no new executive appointments have been announced during the quarterly report and there won’t be a conference call.DISCLAIMER: This content is for informational purposes only. It is not intended as investing advice.Don't miss real-time alerts on your stocks - join Benzinga Pro for free! Try the tool that will help you invest smarter, faster, and better.This article Game Stop's Second Quarter Report Shows It Is Getting Its Game Back originally appeared on Benzinga.com.© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Benzinga

Game Stop's Second Quarter Report Shows It Is Getting Its Game Back

https://finance.yahoo.com/news/game-stops-second-quarter-report-162052051.html

9e13d510-c2a9-32d1-895b-065b2dddbfae

ATXG

SHENZHEN, China, Aug. 29, 2023 /PRNewswire/ -- Addentax Group Corp. ("Addentax" or the "Company") (Nasdaq: ATXG), an integrated service provider focusing on garment manufacturing, logistics services, and property management and subleasing, today announced that it has regained compliance with Nasdaq's minimum bid price listing requirement. A written notice from Listing Qualifications Staff of Nasdaq Stock Market LLC ("Nasdaq") on July 17, 2023, indicated that as of July 14, 2023, the minimum bid price of the Company's common stock was $1.00 per share or greater for the last 10 consecutive business days. As a result, the Company has now regained compliance with Listing Rule 5550(a)(2) and the matter is now closed.About Addentax Group Corp.Addentax Group Corp. Corp. is an integrated service provider specializing in garment manufacturing, logistics services, and property management and subleasing. More information please visit the website: https://www.addentax.com/.Safe Harbor StatementAll statements other than statements of historical fact in this announcement are forward-looking statements in nature within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations and projections about future events and financial trends that the Company believes may affect its financial condition, results of operations, business strategy and financial needs. Words or phrases such as "may," "will," "expect," "anticipate," "aim," "estimate," "intend," "plan," "believe," "potential," "continue," "is/are likely to" or other similar expressions are intended to identify such forward-looking statements. The Company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to consider risk factors, including those described in the Company's filings with the SEC, that may affect the Company's future results. All forward-looking statements attributable to the Company and its subsidiaries or persons acting on their behalf are expressly qualified in their entirety by these risk factors. The forward-looking events discussed in this press release and other statements made from time to time by us or our representatives, may not occur, and actual events and results may differ materially and are subject to risks, uncertainties, and assumptions about us. We are not obligated to publicly update or revise any forward-looking statement, whether as a result of uncertainties and assumptions, the forward-looking events discussed in this press release and other statements made from time to time by us or our representatives might not occur.Story continuesCompany Contact:Public Relations Contact:Addentax Group Corp.Phone: + (86) 755 86961 [email protected] Relations Contact: Sherry ZhengWeitian Group [email protected] original content:https://www.prnewswire.com/news-releases/addentax-group-corp-regains-compliance-with-nasdaq-minimum-bid-price-requirement-301911307.htmlSOURCE Addentax Group Corp.

PR Newswire

Addentax Group Corp. Regains Compliance with Nasdaq Minimum Bid Price Requirement

https://finance.yahoo.com/news/addentax-group-corp-regains-compliance-160000556.html

7442dc42-1f9e-315c-acae-58623f3f95b7

ATXG

SHENZHEN, China, Sept. 5, 2023 /PRNewswire/ -- Addentax Group Corp. ("Addentax" or the "Company") (Nasdaq: ATXG), an integrated service provider focusing on garment manufacturing, logistics services, property management, and subleasing, has initiated preliminary discussions with Xianglilai Technology Co., Ltd ("Xianglilai"), a Chinese company involved in lithium battery research & development ("R&D"), manufacturing, and operations. These discussions align with Addentax's commitment to its recent venture with Auto City (Shenzhen) Autonomous Driving Co., Ltd. Dated on or around June 6, 2023, focused on artificial intelligence ("AI") cloud-based Level 4 ("L4") Autopilot R&D.Xianglilai is recognized as an "Internet-of-Things + Internet + New Energy" technology company, with core activities encompassing lithium battery R&D, manufacturing, and operations. The company holds a substantial portfolio of over 100 patents within China and maintains strategic partnerships with industry leaders.Through this potential collaboration, Addentax aims to enhance its logistics operations with advanced lithium battery technology, promoting sustainability and efficiency. Xianglilai's battery sharing services, available in many major Chinese cities, ensure timely deliveries with fully charged batteries, aligning perfectly with the global trend toward sustainability. Moreover, this potential partnership also complements Addentax's commitment to advancing battery technology for autonomous new energy vehicles.About Addentax Group Corp. Corp.Addentax Group Corp. Corp. is an integrated service provider specializing in garment manufacturing, logistics services, and property management and subleasing. For more information about the Company, please visit the website: https://www.addentax.com/.Caution Concerning Forward Looking StatementsAll statements other than statements of historical fact in this announcement are forward-looking statements in nature within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations and projections about future events and financial trends that the Company believes may affect its financial condition, results of operations, business strategy and financial needs. Words or phrases such as "may," "will," "expect," "anticipate," "aim," "estimate," "intend," "plan," "believe," "potential," "continue," "is/are likely to" or other similar expressions are intended to identify such forward-looking statements. The Company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to consider risk factors, including those described in the Company's filings with the SEC, that may affect the Company's future results. All forward-looking statements attributable to the Company and its subsidiaries or persons acting on their behalf are expressly qualified in their entirety by these risk factors. The forward-looking events discussed in this press release and other statements made from time to time by us or our representatives, may not occur, and actual events and results may differ materially and are subject to risks, uncertainties, and assumptions about us. These forward-looking statements are based on information currently available to Addentax and its current plans or expectations and are subject to a number of known and unknown uncertainties, risks and other important factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. These and other important factors are described in detail in the "Risk Factors" section of Addentax's Annual Report on Form 10-K for the year ended March 31, 2023. Although we believe the expectations reflected in such forward-looking statements are reasonable, we can give no assurance that such expectations will prove to be correct. We are not obligated to publicly update or revise any forward-looking statement, whether as a result of uncertainties and assumptions, the forward-looking events discussed in this press release and other statements made from time to time by us or our representatives might not occur.Story continuesCompany Contact:Public Relations Contact:Addentax Group Corp.Phone: + (86) 755 86961 [email protected] Relations Contact: Sherry ZhengWeitian Group [email protected] original content:https://www.prnewswire.com/news-releases/addentax-group-corp-launches-strategic-negotiations-with-xianglilai-for-advanced-lithium-battery-integration-in-logistics-and-autonomous-new-energy-vehicles-301917202.htmlSOURCE Addentax Group Corp.

PR Newswire

Addentax Group Corp. Launches Strategic Negotiations with Xianglilai for Advanced Lithium Battery Integration in Logistics and Autonomous New Energy Vehicles

https://finance.yahoo.com/news/addentax-group-corp-launches-strategic-134500985.html

180a3996-470b-39cb-9433-5b49ec0f44d2

ATXI

Fortress Biotech, Inc.Total net revenue was $17.4 million in the second quarter of 2023, a 40% increase from $12.4 million in the first quarter of 2023Positive topline results from two Phase 3 clinical trials evaluating DFD-29 demonstrated achievement of co-primary and all secondary endpoints versus placebo and Oracea® (doxycycline) with no significant safety issuesFortress is advancing several late-stage clinical assets with two NDA submissions anticipated in the second half of 2023 for DFD-29 and CUTX-101Cosibelimab longer-term results demonstrated substantial increases in complete response rates in advanced cutaneous squamous cell carcinomaPDUFA goal date of January 3, 2024, set by FDA for cosibelimab to treat metastatic or locally advanced cutaneous squamous cell carcinomaMIAMI, Aug. 14, 2023 (GLOBE NEWSWIRE) -- Fortress Biotech, Inc. (Nasdaq: FBIO) (“Fortress”), an innovative biopharmaceutical company focused on efficiently acquiring, developing and commercializing or monetizing promising therapeutic products and product candidates, today announced financial results and recent corporate highlights for the second quarter ended June 30, 2023.Lindsay A. Rosenwald, M.D., Fortress’ Chairman, President and Chief Executive Officer, said, “Fortress, along with our partner companies and subsidiaries, demonstrated meaningful progress in the second quarter of 2023 and subsequent months, including:Our revenue numbers remain strong for the second quarter, totaling $17.4 million, which represents a 40% growth rate over the first quarter of 2023.Additionally, we are excited by all of the positive data milestones recently achieved, notably:Positive topline results from our two Phase 3 DFD-29 clinical trials for papulopustular rosacea;Positive data from our Phase 1/2 single center clinical trial of our CAR T cell therapy, MB-106, to treat a wide range of hematologic malignancies;Positive data from the Phase 1 dotinurad clinical trial in healthy volunteers in the U.S.;Excellent longer-term positive Phase 3 cosibelimab data demonstrating substantial increases in complete response rates in advanced cutaneous squamous cell carcinoma (“cSCC”);New pharmacokinetic (“PK”) modeling data for cosibelimab supporting the extension to an every-three-week dosing regimen; andPositive preclinical data in the BAER-101 trial supporting a Phase 2 study in epilepsy.On the regulatory front:We reached agreement with the U.S. Food and Drug Administration (“FDA”) on key elements of the Phase 3 safety study, including the primary endpoint and statistical analysis approach, for intravenous (“IV”) tramadol, which is in development for the treatment of acute post-operative pain in a medically supervised setting. We believe that a positive study outcome could result in the FDA approval of IV tramadol.By the end of 2023, we expect to have two additional New Drug Applications (“NDA”) on file with the FDA for CUTX-101 and DFD-29.There is a Prescription Drug User Fee Act (“PDUFA”) goal date of January 3, 2024, for cosibelimab to treat metastatic or locally advanced cSCC.”Story continuesDr. Rosenwald continued, “With an expanding portfolio of marketed dermatology products, more than 25 drug candidates across our partner companies, and the potential for multiple FDA approvals over the next two years, we believe that our business is well-positioned for continued growth. Our strategy is focused on targeting exciting clinical-stage medicines with proof-of-concept data in areas of unmet need. Fortress and our partner companies are poised to achieve our collective objective of providing new treatment options to patients in need, while creating significant long-term value for our shareholders through our equity interests and royalties.”Recent Corporate Highlights1:Marketed Dermatology Products and Product CandidatesJourney Medical Corporation (Nasdaq: DERM) (“Journey Medical”), our partner company, primarily focuses on selling and marketing of prescription dermatology products.Journey Medical’s total product net revenues were $17.0 million for the second quarter of 2023, compared to second quarter 2022 total product net revenues of $18.2 million, and showed sequential growth compared to $12.2 million total product net revenues in the first quarter of 2023.In July 2023, Journey Medical announced positive topline data from the two DFD-29 (Minocycline Hydrochloride Modified Release Capsules, 40 mg) Phase 3 clinical trials for the treatment of rosacea and achieved the co-primary and all secondary endpoints with subjects completing the 16-week treatment with no significant safety issues. DFD-29 demonstrated statistical superiority compared to both Oracea capsules and placebo for Investigator’s Global Assessment treatment success and the reduction in the total inflammatory lesion count in both studies. Journey Medical plans to file its NDA for DFD-29 in the second half of 2023 and expects potential approval from the FDA in the second half of 2024.In June 2023, Journey Medical announced positive topline data from the Phase 1 clinical trial assessing the impact of DFD-29 on the microbial flora of healthy adults and also evaluated the safety and tolerability of DFD-29. The study achieved all primary objectives and no significant safety issues were noted during the study. The results indicate that DFD-29 can be safely used for up to 16 weeks with no significant risk of microbiota suppression or development of resistance.Cosibelimab (Anti PD-L1 antibody)Our partner company, Checkpoint Therapeutics, Inc. (Nasdaq: CKPT) (“Checkpoint”), submitted a Biologics License Application (“BLA”) to the FDA for cosibelimab, its investigational anti-PD-L1 antibody, as a treatment for patients with metastatic or locally advanced cSCC who are not candidates for curative surgery or radiation, in January 2023. In March 2023, the FDA accepted the BLA filing for cosibelimab and set a PDUFA goal date of January 3, 2024. In its BLA filing acceptance letter, the FDA indicated that no potential filing review issues have been identified, and that an advisory committee meeting to discuss the application is not currently planned. According to U.S. prescription claims data, in 2021, approximately 11,000 patients with cSCC were treated with systemic therapies. As checkpoint inhibitors comprised less than half of U.S. patient prescriptions, cSCC remains a disease with a need for more effective and tolerable treatment options, particularly for the significant number of cSCC patients with immunosuppressive conditions or autoimmune diseases. With its unique mechanism of action and compelling safety profile, we believe cosibelimab, if approved, would be uniquely positioned to provide an important new treatment option for patients with cSCC who are currently underserved by available therapies.In July 2023, Checkpoint announced new, longer-term data for cosibelimab from its pivotal studies in locally advanced and metastatic cutaneous squamous cell carcinoma (“cSCC”). These results demonstrate a deepening of response over time, resulting in substantially higher complete response rates than previously reported (55% objective response rate; 23% complete response rate in locally advanced cSCC and 50% objective response rate; 13% complete response rate in metastatic cSCC). Furthermore, responses continue to remain durable over time with the median duration of response not yet reached in either group.In June 2023, Checkpoint announced that new PK modeling data on cosibelimab supporting the extension to an every-three-week dosing regimen were presented at the Population Approach Group Europe 2023 annual meeting. Results support comparability of cosibelimab 800 mg every-two-week and 1200 mg every-three-week dosing regimens.Cosibelimab was sourced by Fortress and is currently in development at Checkpoint.Dotinurad (Urate Transporter (URAT1) Inhibitor)Dotinurad is in development for the treatment of gout. Data announced in June 2023 from the Phase 1 clinical trial in healthy volunteers showed comparable pharmacokinetic, pharmacodynamic and safety profile between U.S. and Japanese healthy subjects. We plan to initiate a Phase 1b clinical trial in gout patients in the U.S. in the third quarter of 2023 to confirm the comparability of Japanese and U.S. subjects’ response to dotinurad and we expect to begin pivotal clinical trials in early 2024.Dotinurad (URECE® tablet) was approved in Japan in 2020 as a once-daily oral therapy for gout and hyperuricemia. Dotinurad was efficacious and well-tolerated in more than 500 Japanese patients treated for up to 58 weeks in Phase 3 clinical trials. The clinical program supporting approval included over 1,000 patients.Dotinurad was sourced by Fortress and is currently in development at Urica.MB-106 (CD20-targeted CAR T Cell Therapy)Mustang Bio, Inc.’s (Nasdaq: MBIO) (“Mustang Bio”) lead clinical candidate is MB-106, a CD20-targeted, autologous CAR T cell therapy to treat a wide range of hematologic malignancies, including Waldenstrom macroglobulinemia (“WM”) and follicular lymphoma (“FL”). MB-106 continues to demonstrate a favorable safety and efficacy profile in both the Fred Hutch single institution and Mustang Bio multicenter Phase 1/2 clinical trials.Phase 1/2 data from the WM cohort in the Fred Hutch clinical trial for MB-106 were presented in a poster session at the European Hematology Association Hybrid Congress. All six patients in the WM cohort in the study were previously treated with Bruton's tyrosine kinase inhibitors (“BTKi”), and their disease continued to progress while on BTKis. 83% (5/6) of the WM cohort patients treated with MB-106 responded to treatment, including 2 complete responses (“CR”), 1 very good partial response (“VGPR”), 1 partial response (“PR”), and 1 minor response, with the remaining patient experiencing stable disease. One of the patients who achieved a CR has remained in remission for 22 months. From a safety perspective, cytokine release syndrome (“CRS”) occurred in five patients with no grade 3 or 4 CRS observed, and one patient experienced grade 1 immune effector cell-associated neurotoxicity syndrome (“ICANS”) with no grade 2, 3 or 4 ICANS observed.Fred Hutch also presented MB-106 data from the FL cohort of their clinical trial in an oral presentation at the International Conference on Malignant Lymphoma. A total of 20 patients with relapsed FL with confirmed CD20 expression participated in the study and had day 28 assessment. Median age was 63 years (range: 44 – 81), and median prior lines of treatment was 4 (range: 1 – 12). High-risk features included patients with progression of disease within 24 months of first-line chemoimmunotherapy (POD24) (n=15, 75%), history of histologic transformation (n=4, 20%), prior treatment with a CD19 target CAR T (n=1, 5%). Overall response rate (“ORR”) was 95% (19/20), and CR rate was 80% (16/20). Patients who received higher dose levels had an ORR of 100% and a CR rate of 91%. Ten patients are in remission over one year, seven of whom are in remission over two years. One patient, previously treated with a CD19-targeted CAR T-cell therapy, achieved a CR and remains in remission after 18 months. From a safety profile perspective, all CRS events were grade 1 (n=5, 25%) or grade 2 (n=1, 5%), with no grade ≥ 3 CRS events and there was no occurrence of ICANS of any grade.In parallel, Mustang Bio’s multicenter, open-label, non-randomized Phase 1/2 clinical trial evaluating the safety and efficacy of MB-106 continues to accrue, and Mustang Bio anticipates escalation to the final dose level in the Phase 1 indolent lymphoma arm in the third quarter of this year. The FDA granted Orphan Drug Designation to MB-106 for the treatment of WM, and results from this arm are expected to support an accelerated Phase 2 registration strategy for WM, with the first pivotal Phase 2 patient with WM to be treated potentially in the first quarter of 2024. Mustang Bio plans to report initial safety and efficacy data from the multicenter trial shortly, with additional safety and efficacy data from the trial expected in the fourth quarter. Finally, Mustang Bio expects to initiate a pivotal phase 2 trial in at least one additional B-cell malignancy later in 2024.MB-106 was sourced by Fortress and is currently in development at Mustang Bio.CUTX-101 (Copper Histidinate for Menkes disease)Our subsidiary, Cyprium Therapeutics, Inc. (“Cyprium”), has completed two pivotal studies in patients with Menkes disease treated with CUTX-101, copper histidinate (CuHis). In a pre-specified analysis of the studies, a 79% reduction in the risk of death was observed in patients treated within four weeks of birth, compared with a historical control cohort of untreated patients, and median overall survival (OS) was 177.1 months for CUTX-101 compared to 16.1 months for the historical control, with a hazard ratio (“HR”) of (95% CI) = 0.208 (0.094, 0.463) p<0.0001. A 75% reduction in the risk of death was observed in patients treated after four weeks of birth, compared with untreated historical control subjects, and median OS was 62.4 and 17.6 months, respectively; HR (95% CI) = 0.253 (0.119, 0.537); p<0.0001.In 2021, Cyprium signed a Development and Asset Purchase Agreement with Sentynl Therapeutics, Inc. (“Sentynl”), a wholly owned subsidiary of Zydus Lifesciences Ltd., for CUTX-101 to treat Menkes disease. Cyprium is responsible for the development of CUTX-101, and Sentynl will be responsible for commercialization of CUTX-101, as well as progressing newborn screening activities.In December 2021, Cyprium initiated the rolling submission of an NDA to the FDA for CUTX-101, which is ongoing and expected to be completed by the end of 2023.Cyprium will retain 100% ownership over any FDA priority review voucher that may be issued at NDA approval of CUTX-101.CUTX-101 was sourced by Fortress and is currently in development at Cyprium.CAEL-101 (Light Chain Fibril-reactive Monoclonal Antibody for AL Amyloidosis)On October 5, 2021, AstraZeneca plc (“AstraZeneca”) acquired Caelum Biosciences, Inc. (“Caelum”) for an upfront payment of approximately $150 million paid to Caelum shareholders, of which approximately $56.9 million was paid to Fortress, net of Fortress’ $6.4 million portion of the $15 million, 24-month escrow holdback amount and other miscellaneous transaction expenses. The agreement also provides for additional potential payments to Caelum shareholders totaling up to $350 million, payable upon the achievement of regulatory and commercial milestones. Fortress is eligible to receive 42.4% of all potential milestone payments, which, together with the upfront payment, would total up to approximately $212 million.There are two ongoing Phase 3 studies of CAEL-101 for AL amyloidosis. (ClinicalTrials.gov identifiers: NCT04512235 and NCT04504825).2Based on its public statements, AstraZeneca has estimated that it expects the FDA to accept its BLA submission for review in the second half of 2024.CAEL-101 (anselamimab) was sourced by Fortress and was developed by Caelum (founded by Fortress) until its acquisition by AstraZeneca in October 2021.Triplex (Cytomegalovirus (“CMV”) vaccine)In June 2023, we announced that the National Cancer Institute awarded a $3.2 million grant to City of Hope for clinical studies of Triplex, a CMV vaccine being developed by Helocyte and City of Hope. This competitive award will fund two planned multicenter, placebo-controlled, randomized Phase 2 studies to evaluate the potential safety and immunological response of Triplex and its ability to enhance CMV-specific T cell immunity in stem cell donors to reduce the risk of CMV events in recipients of allogeneic hematopoietic cell transplant.We expect that the Phase 2 clinical trial of Triplex for adults co-infected with HIV and CMV will complete enrollment in the second half of 2023 with topline data anticipated in 2024. The study aims to show that vaccination with Triplex can potentially reduce the dose of highly active antiretroviral therapy treatment required to control HIV, which is used in up to 1.7 million treated patients with HIV.Triplex received a grant from the National Institute of Allergy and Infectious Diseases that could provide over $20 million in non-dilutive funding. This will fund a 420 patient multicenter, placebo-controlled, randomized Phase 2 study of Triplex for control of CMV in patients undergoing liver transplantation and is expected to begin enrollment this year. We believe this data set could ultimately be used to support approval of Triplex in this setting.Triplex is currently the subject of three ongoing clinical trials including: pediatric patients undergoing stem cell transplant; adults co-infected with CMV and HIV; and in combination with a CAR T cell therapy for adults with non-Hodgkin lymphoma.Triplex was sourced by Fortress and is currently in development at our subsidiary, Helocyte, Inc.AJ201In July 2023, we announced that our partner company, Avenue Therapeutics, Inc. (Nasdaq: ATXI) (“Avenue”), dosed the first patient in a Phase 1b/2a study, which is evaluating AJ201 in the U.S. for the treatment of spinal and bulbar muscular atrophy (“SBMA”), also known as Kennedy's Disease. Kennedy’s Disease is a debilitating rare genetic neuromuscular disease primarily affecting men. Although there is a range of cited prevalence rates in the literature, a recent study used genetic analysis to estimate disease prevalence of 1:6,887 males3. Topline data for the Phase 1b/2a clinical trial of AJ201 in SBMA are expected in the first half of 2024.AJ201 was sourced by Fortress and is currently in development at Avenue.BAER-101In August 2023, Avenue reported preclinical results for BAER-101, a potentially best in class GABA-A α2,3 positive allosteric modulator, demonstrating it significantly suppressed seizures in a translational animal model of absence epilepsy. In an in vivo evaluation using the SynapCell's Genetic Absence Epilepsy Rat from Strasbourg (“GAERS”) model of absence epilepsy, BAER-101 fully suppressed seizure activity with a minimal effective dose of 0.3 mg/kg, PO. The effect was fast in onset and stable throughout the duration of testing. The detailed preclinical results will be presented at an upcoming scientific meeting. The combination of safety and tolerability in hundreds of patients and the preclinical efficacy data support BAER-101’s continued development in a Phase 2a trial, which the Company plans to initiate in 2024.BAER-101 was sourced by Fortress and is currently in development at Baergic Bio, a subsidiary of Avenue.IV TramadolIn July 2023, Avenue reached an agreement with the FDA on key elements of the Phase 3 safety study, including the primary endpoint and statistical analysis approach, for intravenous (“IV”) tramadol, which is in development for the treatment of acute post-operative pain in a medically supervised setting. The agreed upon non-inferiority study is designed to assess the theoretical risk of opioid-induced respiratory depression related to opioid stacking on IV tramadol compared to IV morphine. Avenue expects to initiate the Phase 3 safety study this year, subject to obtaining the necessary financing which could be provided through a strategic partnership. We expect that a positive study outcome could result in the FDA approval of IV tramadol.IV Tramadol was sourced by Fortress and is currently in development at Avenue.In vivo CAR T Platform TechnologyWe continue to collaborate with the Mayo Clinic to potentially revolutionize the delivery of CAR T in patients. The technology has the potential to generate CAR T cells within the patient’s body after two outpatient injections, without the need for traditional ex vivo allogeneic or autologous CAR T cell processing wait time and expense.We anticipate the publication of proof-of-concept research from in vivo animal studies in 2023.The novel CAR T technology was sourced by Fortress and is currently in development at Mustang Bio.General Corporate:In July 2023, Mustang Bio announced that it amended its previously announced asset purchase agreement with uBriGene (Boston) Biosciences Inc. (“uBriGene”), the U.S. subsidiary of uBriGene Group, a leading cell and gene therapy contract development and manufacturing organization (“CDMO”), and closed the transaction. Per the terms of the amended asset purchase agreement, at closing, uBriGene acquired all of Mustang Bio’s assets primarily relating to the manufacturing and production of cell and gene therapies at Mustang Bio’s state-of-the-art clinical- and commercial-scale cell and gene therapy manufacturing facility in Worcester, Massachusetts, for upfront consideration of $6 million in cash. An additional $5 million contingent payment will be payable to Mustang Bio upon (i) Mustang Bio’s raising $10 million in gross proceeds from equity raises following the closing of the transaction and (ii) completion of the assignment of Mustang Bio’s lease to uBriGene, which remains subject to landlord’s approval, within two years of the closing. Until the lease is transferred to uBriGene, Mustang Bio will retain its facility lease and facility personnel, and will continue to occupy the leasehold premises and manufacture there its lead product candidate, MB-106.In April 2023, Aevitas Therapeutics, Inc. (“Aevitas”), Fortress’ subsidiary company, and 4D Molecular Therapeutics (“4DMT”) announced the execution of an asset purchase agreement for 4DMT to acquire Aevitas’ proprietary rights to its short-form human complement factor H (“sCFH”) asset for the treatment of complement-mediated diseases. Under the terms of the agreement, 4DMT will make cash payments to Aevitas totaling up to ~$140 million in potential late-stage development, regulatory and sales milestones. A range of single-digit royalties on net sales are also payable. The aforementioned payments are payable solely to Aevitas, and 4DMT will be responsible for license payment obligations to University of Pennsylvania, where the sCFH technology was co-invented and co-developed.Financial Results:To assist our stockholders in understanding our company, we have prepared non-GAAP financial metrics for the three months ended June 30, 2023 and 2022. These metrics exclude the operations of our four public partner companies: Avenue, Checkpoint, Journey Medical and Mustang Bio, as well as any one-time, non-recurring, non-cash transactions. The goal in providing these non-GAAP financial metrics is to highlight the financial results of Fortress’ core operations, which comprise our privately held development-stage entities, as well as our business development and finance functions.As of June 30, 2023, Fortress’ consolidated cash, cash equivalents and restricted cash totaled $89.2 million, compared to $154.9 million as of March 31, 2023 and $181.0 million as of December 31, 2022, a decrease of $65.7 million during the quarter and a decrease of $91.8 million year-to-date.On a GAAP basis, Fortress’ net revenue totaled $17.4 million for the second quarter of 2023, which included $17.0 million in net revenue generated from our marketed dermatology products. This compares to net revenue totaling $18.9 million for the second quarter of 2022, which included $18.2 million in net revenue generated from our marketed dermatology products.On a GAAP basis, consolidated research and development expenses including license acquisitions were $32.1 million for the second quarter of 2023, compared to $33.1 million for the second quarter of 2022. On a non-GAAP basis, Fortress research and development expenses were $2.7 million for the second quarter of 2023, compared to $3.3 million for second quarter of 2022.On a GAAP basis, consolidated selling, general and administrative expenses were $24.4 million for the second quarter of 2023, compared to $29.0 million for the second quarter of 2022. On a non-GAAP basis, Fortress selling, general and administrative expenses were $6.8 million, for the second quarter of 2023, compared to $8.5 million for the second quarter of 2022.On a GAAP basis, consolidated net loss attributable to common stockholders was $26.8 million, or $0.24 per share, for the second quarter of 2023, compared to consolidated net loss attributable to common stockholders of $23.4 million, or $0.26 per share for the second quarter of 2022.Fortress’ non-GAAP loss attributable to common stockholders was $8.0 million, or $0.07 per share, for the second quarter of 2023, compared to Fortress’ non-GAAP loss attributable to common stockholders of $10.9 million, or $0.12 per share, for the second quarter of 2022.Use of Non-GAAP Measures:In addition to the GAAP financial measures as presented in our filings with the Securities and Exchange Commission (“SEC”), including our Form 10-Q to be filed on August 14, 2023, the Company, in this press release, has included certain non-GAAP measurements. The non-GAAP net loss attributable to common stockholders is defined by the Company as GAAP net loss attributable to common stockholders, less net losses attributable to common stockholders from our public partner companies Avenue, Checkpoint, Journey Medical and Mustang Bio (“public partner companies”). In addition, the Company has also provided a Fortress non-GAAP loss attributable to common stockholders which is a modified EBITDA calculation that starts with the non-GAAP loss attributable to common stockholders and removes stock-based compensation expense, non-cash interest expense, amortization of debt discount, changes in fair value of derivative liability, loss on deconsolidation of subsidiary, and depreciation expense. The Company also provides non-GAAP research and development costs, defined as GAAP research and development costs, less research and development costs of our public partner companies and non-GAAP selling, general and administrative costs, defined as GAAP selling, general and administrative costs, less selling, general and administrative costs of our public partner companies.Management believes each of these non-GAAP measures provide meaningful supplemental information regarding the Company's performance because (i) it allows for greater transparency with respect to key measures used by management in its financial and operational decision-making; (ii) it excludes the impact of non-cash or, when specified, non-recurring items that are not directly attributable to the Company's core operating performance and that may obscure trends in the Company's core operating performance; and (iii) it is used by institutional investors and the analyst community to help analyze the Company's standalone results separate from the results of its public partner companies. However, non-GAAP loss attributable to common stockholders and any other non-GAAP financial measures should be considered as a supplement to, and not as a substitute for, or superior to, the corresponding measures calculated in accordance with GAAP. Further, non-GAAP financial measures used by the Company and the manner in which they are calculated may differ from the non-GAAP financial measures or the calculations of the same non-GAAP financial measures used by other companies, including the Company's competitors.The tables below provide a reconciliation from GAAP to non-GAAP measures:    For the three months ended June 30, For the six months ended June 30, ($ in thousands except for share and per share amounts)   2023   2022   2023   2022  Net loss attributable to common stockholders1  $(26,784) $(23,364) $(50,329) $(41,132) Net loss attributable to common stockholders - Avenue2   (339)  (354)  (1,361)  (889) Net loss attributable to common stockholders - Checkpoint3   (2,441)  (2,596)  (4,208)  (5,520) Net loss attributable to common stockholders - Journey Medical4   (4,662)  (4,747)  (10,395)  (5,564) Net loss attributable to common stockholders - Mustang Bio5   (3,276)  (1,374)  (6,550)  (3,916) Non-GAAP loss attributable to common stockholders  $(16,066) $(14,293) $(27,815) $(25,243) Stock based compensation   2,705   2,884   5,574   5,665  Non-cash interest   391   4   836   8  Amortization of debt discount   970   404   1,454   761  Depreciation   92   98   185   198  Change in fair value of warrant liabilities   512   -   (6,166)  -  Loss on deconsolidation of Aevitas   3,369   -   3,369   -  Fortress non-GAAP loss attributable to common stockholders  $(8,027) $(10,903) $(22,563) $(18,611)                    Per common share - basic and diluted:                  Net loss attributable to common stockholders (GAAP)  $(0.24) $(0.26) $(0.47) $(0.47) Non-GAAP net loss attributable to common stockholders  $(0.15) $(0.16) $(0.26) $(0.29) Fortress non-GAAP loss attributable to common stockholders  $(0.07) $(0.12) $(0.21) $(0.21)                                       Weighted average common shares outstanding - basic and diluted   110,659,985   88,743,457   106,297,241   87,593,952                    Net loss attributable to common stockholders reflects the Series A Preferred dividends for all periods presented.Avenue net loss for the three months ended June 30, 2023 of $4.0 million net of non-controlling interest ("NCI") of $3.5 million, Fortress management services agreement ("MSA") fee of $0.1 million and financing fee to Fortress of $0.1 million; net loss for the three months ended June 30, 2022 of $0.6 million net of NCI of $0.3 million; net loss for the six months ended June 30, 2023 of $11.5 million net of NCI of $9.9 million, Fortress MSA fee of $0.3 million, and Fortress financing fee of $0.1 million; and net loss for the six months ended June 30, 2022 of $3.5 million net of NCI of $2.6 million.Checkpoint net loss for the three months ended June 30, 2023 of $16.5 million net of NCI of $13.6 million, Fortress MSA fee of $0.1 million and financing fee to Fortress of $0.4 million; net loss for the three months ended June 30, 2022 of $14.1 million net of NCI of $11.4 million, Fortress MSA fee of $0.1 million; net loss for the six months ended June 30, 2023 of $27.0 million net of NCI of $22.0 million, Fortress MSA fee of $0.3 million, and Fortress financing fee of $0.6 million; and net loss for the six months ended June 30, 2022 of $31.0 million net of NCI of $25.0 million, Fortress MSA fee of $0.3 million, and Fortress financing fee of $0.2 million.Journey Medical net loss for the three months ended June 30, 2023 of $8.4 million net of NCI of $3.7 million; and net loss for the three months ended June 30, 2022 of $7.5 million, net of NCI of approximately $2.8 million and tax benefit recognized on a stand-alone basis of $0.1 million; and net loss of $18.5 million net of non-controlling interest of $8.1 million for the 6 months ended June 30, 2023, and net loss of $8.9 million net non-controlling interest of $3.3 million for the six months ended June 30, 2022.Mustang Bio net loss for the three months ended June 30, 2023 of $16.2 million net of NCI of $12.8 million, Fortress MSA fee of $0.1 million; net loss for the three months ended June 30, 2022 of $19.1 million net of NCI of $17.4 million; net loss for the six months ended June 30, 2023 of $32.9 million net of non-controlling interest of $26.1 million and Fortress MSA fee of $0.3 million; and net loss for the six months ended June 30, 2022 of $38.9 million net of NCI of $31.5 million, Fortress MSA of $0.5 million and Fortress financing fee of $0.9 million.Reconciliation to non-GAAP research and development costs and non-GAAP selling, general and administrative costs: For the three months ended June 30,  For the six months ended June 30, ($ in thousands) 2023   2022   2023   2022 Research and development1$32,141  $33,131  $71,647  $69,853 Less:               Research and development - Avenue2 2,965   151   8,347   1,959 Research and development - Checkpoint 13,945   12,053   29,771   26,723 Research and development - Journey Medical 1,774   2,609   3,807   3,875 Research and development - Mustang Bio3 10,773   15,039   24,711   31,203 Non-GAAP research and development costs$2,684  $3,279  $5,011  $6,093                 Selling, general and administrative$24,439  $29,048  $49,780  $55,318 Less:               General and administrative - Avenue4 761   454   1,683   1,509 General and administrative - Checkpoint5 1,753   1,987   3,764   3,909 Selling, general and administrative - Journey Medical 12,141   15,191   25,433   29,906 General and administrative - Mustang Bio6 2,993   2,876   5,251   5,278 Non-GAAP selling, general and administrative costs$6,791  $8,540  $13,649  $14,716  Includes Research and development expense and Research and development - licenses acquired expense for the periods presented.Excludes $0.1 million of Fortress MSA expense payable to Fortress for the three and six months ended June 30, 2023.Excludes $0.1 million of Fortress MSA expense for the three months ended June 30, 2023; $0.1 million of Fortress MSA expense for the three months ended June 30, 2022; $0.1 million Fortress MSA expense for the six months ended June 30, 2023; and $0.3 million Fortress MSA expense for the six months ended June 30, 2022.Excludes $0.1 million of Fortress MSA expense and $0.1 million financing fee payable to Fortress for the three months ended June 31, 2023 and $0.3 million of Fortress MSA expense and $0.1 million financing fee payable to Fortress for the six months ended June 31, 2023.Excludes $0.1 million of Fortress MSA expense and $0.4 million Fortress financing fee for the three months ended June 30, 2023; $0.1 million of Fortress MSA expense for the three months ended June 30, 2022; $0.3 million Fortress MSA expense and $0.6 million Fortress financing fee for the six months ended June 30, 2023; and $0.3 million Fortress MSA expense and $0.2 million Fortress financing fee for the six months ended June 30, 2022.Excludes $0.1 million of Fortress MSA expense for the three months ended June 30, 2023; $0.1 million of Fortress MSA expense and $0.1 million Fortress financing fee for the three months ended June 30, 2022; $0.1 million Fortress MSA expense for the six months ended June 30, 2023; and $0.3 million Fortress MSA expense and $0.9 million Fortress financing fee for the six months ended June 30, 2022.About Fortress Biotech Fortress Biotech, Inc. (“Fortress”) is an innovative biopharmaceutical company focused on efficiently acquiring, developing and commercializing or monetizing promising therapeutic products and product candidates. The company has eight marketed prescription pharmaceutical products and over 25 programs in development at Fortress, at its majority-owned and majority-controlled partners and subsidiaries and at partners and subsidiaries it founded and in which it holds significant minority ownership positions. Such product candidates span six large-market areas, including oncology, rare diseases and gene therapy, which allow it to create value for shareholders. Fortress advances its diversified pipeline through a streamlined operating structure that fosters efficient drug development. The Fortress model is driven by a world-class business development team that is focused on leveraging its significant biopharmaceutical industry expertise to further expand the company’s portfolio of product opportunities. Fortress has established partnerships with some of the world’s leading academic research institutions and biopharmaceutical companies to maximize each opportunity to its full potential, including AstraZeneca, City of Hope, Fred Hutchinson Cancer Center, St. Jude Children’s Research Hospital, Nationwide Children’s Hospital and Sentynl. For more information, visit www.fortressbiotech.com.Forward-Looking StatementsThis press release may contain “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, as amended. As used below and throughout this press release, the words “we”, “us” and “our” may refer to Fortress individually or together with one or more partner companies, as dictated by context. Such statements include, but are not limited to, any statements relating to our growth strategy and product development programs, ability to generate shareholder value, ability of our products to receive necessary approvals, including FDA approval, ability of our products and therapies to help patients and any other statements that are not historical facts. Forward-looking statements are based on management’s current expectations and are subject to risks and uncertainties that could negatively affect our business, operating results, financial condition and stock price. Factors that could cause actual results to differ materially from those currently anticipated include, risks relating to: our growth strategy; financing and strategic agreements and relationships; our need for substantial additional funds and uncertainty relating to financings; our ability to identify, acquire, close and integrate product candidates successfully and on a timely basis; our ability to attract, integrate and retain key personnel; the early stage of products under development; the results of research and development activities; uncertainties relating to preclinical and clinical testing; risks relating to the timing of starting and completing clinical trials; the ability to secure and maintain third-party manufacturing, marketing and distribution of our and our partner companies’ products and product candidates; government regulation; patent and intellectual property matters; competition; as well as other risks described in our SEC filings. We expressly disclaim any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in our expectations or any changes in events, conditions or circumstances on which any such statement is based, except as may be required by law, and we claim the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. The information contained herein is intended to be reviewed in its totality, and any stipulations, conditions or provisos that apply to a given piece of information in one part of this press release should be read as applying mutatis mutandis to every other instance of such information appearing herein.Company Contact:Jaclyn JaffeFortress Biotech, Inc.(781) [email protected] Relations Contact:Tony Plohoros6 Degrees(908) [email protected]  FORTRESS BIOTECH, INC. AND SUBSIDIARIESUnaudited Condensed Consolidated Balance Sheets($ in thousands except for share and per share amounts)       June 30,  December 31,  2023 2022     ASSETS       Current assets       Cash and cash equivalents$78,022  $178,266 Accounts receivable, net 16,737   28,208 Inventory 12,166   14,159 Other receivables - related party 273   138 Prepaid expenses and other current assets 7,315   9,661 Restricted cash 8,750   — Assets held for sale 4,348   — Total current assets 127,611   230,432       Property, plant and equipment, net 7,230   13,020 Operating lease right-of-use asset, net 17,951   19,991 Restricted cash 2,438   2,688 Intangible asset, net 21,916   27,197 Other assets 3,573   973 Total assets$ 180,719  $ 294,301       LIABILITIES AND STOCKHOLDERS’ EQUITY (DEFICIT)       Current liabilities     Accounts payable and accrued expenses$99,162  $97,446 Common stock warrant liabilities 9,971   13,869 Operating lease liabilities, short-term 2,329   2,447 Partner company term loan, short-term, net 9,942   — Partner company convertible preferred shares, short-term, net 3,491   2,052 Partner company line of credit —   2,948 Partner company installment payments - licenses, short-term, net 2,333   7,235 Other short-term liabilities 1,355   1,718 Total current liabilities 128,583   127,715       Notes payable, long-term, net 45,333   91,730 Operating lease liabilities, long-term 19,502   21,572 Partner company installment payments - licenses, long-term, net 1,490   1,412 Other long-term liabilities 1,754   1,847 Total liabilities  196,662    244,276       Commitments and contingencies              Stockholders’ equity (deficit)       Cumulative redeemable perpetual preferred stock, $0.001 par value, 15,000,000 authorized, 5,000,000 designated Series A shares, 3,427,138 shares issued and outstanding as of June 30, 2023 and December 31, 2022, respectively, liquidation value of $25.00 per share 3   3 Common stock, $0.001 par value, 200,000,000 shares authorized, 131,657,369 and 110,494,245 shares issued and outstanding as of June 30, 2023 and December 31, 2022, respectively 132   110 Common stock issuable, 39,595 and 0 shares as of June 30, 2023 and December 31, 2022 23   — Additional paid-in-capital 698,897   675,841 Accumulated deficit (680,546)  (634,233)Total stockholders' equity attributed to the Company 18,509   41,721       Non-controlling interests (34,452)  8,304 Total stockholders' equity (deficit) (15,943)  50,025 Total liabilities and stockholders' equity (deficit)$ 180,719  $ 294,301  FORTRESS BIOTECH, INC. AND SUBSIDIARIESUnaudited Condensed Consolidated Statements of Operations($ in thousands except for share and per share amounts)               Three Months Ended June 30,   Six Months Ended June 30,  2023    2022    2023    2022Revenue               Product revenue, net$16,961  $18,235  $29,126  $39,031 Collaboration revenue 183   577   364   1,154 Revenue - related party 31   18   66   70 Other revenue 211   56   259   2,556 Net revenue 17,386   18,886   29,815   42,811             Operating expenses           Cost of goods sold - product revenue 7,767   7,633   14,216   15,836 Research and development 32,139   33,130   67,415   69,852 Research and development - licenses acquired 3   1   4,233   1 Selling, general and administrative 24,439   29,048   49,780   55,318 Asset impairment 3,143   —   3,143   — Total operating expenses 67,491   69,812   138,787   141,007 Loss from operations (50,105)  (50,926)  (108,972)  (98,196)            Other income (expense)               Interest income 715   150   1,751   292 Interest expense and financing fee (6,425)  (3,154)  (10,721)  (5,504)Change in fair value of warrant liabilities (512)  —   6,166   — Loss from deconsolidation of Aevitas (3,369)  —   (3,369)  — Other income 395   —   699   — Total other expense (9,196)  (3,004)  (5,474)  (5,212)Net loss  (59,301)   (53,930)   (114,446)   (103,408)            Net loss attributable to non-controlling interests 34,525   32,574   68,133   66,292 Net loss attributable to Fortress  (24,776)   (21,356)   (46,313)   (37,116)            Preferred A dividends declared and paid (2,008)  (2,008)  (4,016)  (4,016)Net loss attributable to common stockholders $ (26,784) $ (23,364) $ (50,329) $ (41,132)            Net loss per common share attributable to common stockholders - basic and diluted$(0.24) $(0.26) $(0.47) $(0.47)            Weighted average common shares outstanding - basic and diluted 110,659,985   88,743,457   106,297,241   87,593,952 1 The development programs depicted in this press release include product candidates in development at Fortress, at Fortress’ private subsidiaries (referred to herein as “subsidiaries”), at Fortress’ public subsidiaries (referred to herein as “partner companies”) and at entities with which one of the foregoing parties has a significant business relationship, such as an exclusive license or an ongoing product-related payment obligation (such entities referred to herein as “partners”). The words “we”, “us” and “our” may refer to Fortress individually, to one or more of our subsidiaries and/or partner companies, or to all such entities as a group, as dictated by context.2 Information on clinicaltrials.gov does not constitute part of this release.3 M. Zanovello et al., Unexpected frequency of the pathogenic ARCAG repeat 2 expansion in the general population. Brain, in press (2023).

GlobeNewswire

Fortress Biotech Reports Second Quarter 2023 Financial Results and Recent Corporate Highlights

https://finance.yahoo.com/news/fortress-biotech-reports-second-quarter-200100264.html

13c43bd0-10f6-3bac-a600-626c73da40cc

ATXI

Avenue TherapeuticsMIAMI, Sept. 05, 2023 (GLOBE NEWSWIRE) -- Avenue Therapeutics, Inc. (Nasdaq: ATXI) (“Avenue” or the “Company”), a specialty pharmaceutical company focused on the development and commercialization of therapies for the treatment of neurologic diseases, today announced that Alexandra MacLean, M.D., Chief Executive Officer, will present a corporate update at the H.C. Wainwright 25th Annual Global Investment Conference scheduled to take place September 11-13, 2023. The presentation will be available for on-demand viewing starting Monday, September 11, 2023 at 7:00 a.m. ET.A webcast and subsequent archived replay of the company presentation will be available on the Events page of Avenue’s website: https://avenuetx.com/ for approximately 30 days following the meeting.About Avenue TherapeuticsAvenue Therapeutics, Inc. (Nasdaq: ATXI) is a specialty pharmaceutical company focused on the development and commercialization of therapies for the treatment of neurologic diseases. It is currently developing three assets including AJ201, a first-in-class oral small molecule for spinal and bulbar muscular atrophy, BAER-101, an oral small molecule selective GABA-A α2/3 receptor positive allosteric modulator for CNS diseases, and IV tramadol, which is in Phase 3 clinical development for the management of moderate-to-moderately-severe pain in adults in a medically supervised healthcare setting. Avenue is headquartered in Miami, FL and was founded by Fortress Biotech, Inc. (Nasdaq: FBIO). For more information, visit www.avenuetx.com.Contact: Jaclyn Jaffe Avenue Therapeutics, Inc. (781) [email protected]

GlobeNewswire

Avenue Therapeutics to Present at H.C. Wainwright 25th Annual Global Investment Conference

https://finance.yahoo.com/news/avenue-therapeutics-present-h-c-123000281.html

d5e89947-fb02-3f9c-992c-c0b0903714a3

AU

Aug 18 (Reuters) - Anglogold Ashanti shareholders on Friday voted in favour of the miner's plans to switch its primary listing from Johannesburg to New York, the company announced, clearing the way for its exit from South Africa.More than 98% of Anglogold shareholders approved the switch, exceeding the required majority of at least 75% at a virtual meeting held on Friday, the company said in a statement.The proposed reorganisation also includes the relocation of Anglogold's headquarters to London from Johannesburg.AngloGold, the forerunner of which was founded by industrialist Ernest Oppenheimer a century ago, completed the sale of its South African mines in 2020.As the geological challenges of some of the world's deepest gold deposits make mining in South Africa more difficult and costly, the company has shifted its attention to more lucrative mines in Ghana, Tanzania and the Democratic Republic of Congo, as well as Australia and the Americas.Anglogold CEO Alberto Calderon has said a primary listing in New York would give the miner access to the world's biggest pool of gold capital.(Reporting by Nelson Banya; Editing by Kirsten Donovan)

Reuters

Anglogold Ashanti shareholders approve South Africa exit

https://finance.yahoo.com/news/anglogold-ashanti-shareholders-approve-south-165833879.html

d18f3247-6345-3ce7-8f0a-1ec629b65b13

AU

In this article, we will talk about the 15 most respected countries in Africa. You can skip our detailed analysis and head straight to the 5 Most Respected Countries In Africa.Africa's Potential for GrowthIn this decade, Africa has yet to make any notable economic strides. According to a report by McKinsey, from 2010 to 2019, the overall GDP in Africa fell 35% with almost 60% of its population living in poverty today. The pandemic and the Russian invasion of Ukraine have impacted the entire world. The already struggling African countries were not immune to this distress. The macroeconomic factors have also contributed to the stunted growth. The economic situation in Africa presents a dark image at first glance. However, the continent is full of potential and presents multifarious opportunities for growth. Africa has a large human capital and rich natural resources. According to the World Bank, Africa is the world's largest free trade area and has a total market of 1.2 billion people. The World Bank has estimated that economic growth in the continent will increase to 3.9% by 2050.The African population has been estimated to increase to 2.5 billion by 2050, adding 796 million people to the global workforce. With a massive young population and an average age of 18, Africa has tremendous growth potential. By properly employing its natural and human resources, it could completely transform its future economic outlook. The large population offers excellent opportunities for businesses. The enormous population means the availability of considerable human resources and a huge market. According to McKinsey, Africa will see a $3 trillion increase in consumer spending by 2030. Similarly, the continent is rich in natural resources.The Mining Sector in Africa: A Major DriverThe African economy relies heavily on the mining sector. According to a report by Verified Market Research, the African mining market was valued at $476.86 billion in 2022 and is projected to grow to $799.66 billion by 2030, recording a compound annual growth rate of 6.60%.Story continuesSouth Africa and Ghana are among the top gold producers in Africa. Notable mining companies working in Africa include AngloGold Ashanti Limited (NYSE:AU) and DRDGOLD Limited (NYSE:DROOY).Economies in Africa including Tanzania and Zambia depend on the mining sector and export large quantities of gold and other precious metals annually. By properly developing the mining sector, the continent could propel its future economic growth.Connectivity Nurtures Respect The global economy is interconnected, and the presence of a country in the international world of business holds immense importance. Recent research studying the impact of a country's reputation on the economic development of the nation found that the enterprises impact the reputation of the country of origin internationally. Similarly, the presence of international enterprises in a country also contributes positively to its perception by others. The presence of a country in the global trade arena helps build respect and attracts further investments. Proper communication and interconnectedness enable innovation and ideas to flow efficiently to and from the country. According to the report by McKinsey, almost 345 companies in Africa have an annual revenue of more than $1 billion, and their combined total revenue amounts to more than $1 trillion. Africa offers great growth opportunities, especially for larger companies. In Africa, according to McKinsey's estimates, large companies could increase their collective revenue by more than $550 million by 2030 by properly tapping into the region's growth potential. The telecommunication industry has been one of the driving factors in improving connectivity and business in the continent. Advancing the telecommunication sector would reduce the infrastructure gaps that exist in the continent. Thus, telecommunication is one of the most significant industries in Africa. Telecommunication enables the flow of information between distant regions. It facilitates interconnectedness and provides a foundation for countries to nurture a better reputation and respect. According to a report by Grandview Research, the global telecommunication market was valued at $1.8 trillion in 2022 and is forecasted to reach $2.87 trillion in revenue by 2030. The global telecommunication industry is growing rapidly, especially with the recent rise in the use of 5G. According to a report by Mordor Intelligence, the African telecom tower, and the allied market is projected to grow from 199 thousand units in 2023 to 249.65 thousand units by 2028. With the expansion of telecommunication, connectivity increases. Heightened connectivity introduces new growth opportunities and promotes development. Some of the most noteworthy telecommunication companies working in Africa include Airtel Africa Plc (LON:AAF), MTN Group Ltd (OTC:MTNOY), and IHS Holding Limited (NYSE:IHS). Airtel Africa Plc (LON:AAF) is a UK-based telecommunications company that provides telecommunication services and mobile payment services in Africa. IHS Holding Limited (NYSE:IHS) is another UK-based telecommunications infrastructure provider working in Africa. It is the fourth biggest independent tower company in the world and also one of the best African stocks to buy.MTN Group Ltd (OTCMKTS:MTNOY) is the biggest wireless carrier in Africa. The company is also working to boost business opportunities in the continent. On August 14, Bloomberg reported that Mastercard Incorporated (NYSE:MA) has agreed to take a minority stake in the fintech business of MTN Group Ltd (OTCMKTS:MTNOY); however, the size of the stake has not been disclosed yet. The large young population offers a great opportunity for bigger companies like Mastercard Incorporated (NYSE:MA) to explore. Africa has a massive underbanked population consequently a great opportunity for fintechs. Mastercard Incorporated (NYSE:MA) is working with many fintech startups to maximize benefits from the African market.By over-generalizing the African region, the actual opportunities get overlooked. Despite the overall slow economic development, many countries in the region have been persistently growing, including Ghana, the Democratic Republic of Congo, and Tanzania. We have made a list of the most respected countries in Africa.15 Most Respected Countries In AfricaSarine Arslanian/Shutterstock.comOur Methodology To make our list of the most respectful countries, we initially made a list of all African countries and separated the top 30 biggest economies based on total GDP in 2022. We extracted the data for total GDP from the World Bank. A stronger economy corresponds to better services, infrastructure, and political environment. We then sifted through our list and separated the countries with higher exports. We have considered higher exports as an indicator for "respected countries". The filtering was done based on the hypothesis that more respected countries have better trade relations with other countries and, consequently, higher exports. The export data has also been extracted from the World Bank for either 2022 or 2021, depending on the latest available year. We have ranked countries in ascending order. 15 Most Respected Countries In Africa15. The Republic of CameroonTotal GDP in 2022: $44.341 BillionExports of Goods and Services in 2022: $8.607 BillionThe Republic of Cameroon is located in central Africa. Cameroon is a middle-income country with diverse wildlife. The country primarily exports cocoa beans, crude petroleum, and petroleum gas. The economy of Cameroon is expected to flourish in the coming years.  14. The Federal Democratic Republic of EthiopiaTotal GDP in 2022: $126.783 BillionExports of Goods and Services in 2022: $10.453 BillionEthiopia is one of the most populous countries in Africa. It is one of the fastest-growing economies in Africa. The country has a long history of resilience and has persisted through turbulent situations. Based on its economy, Ethiopia has been ranked 59th in the world by the IMF. On July 8, the start of Ethiopia's new fiscal year, Reuters reported that the country expects higher spending and growth in the coming year. 13. The Republic of ZambiaTotal GDP in 2022: $29.784 BillionExports of Goods and Services in 2022: $11.446 BillionZambia is located in Southern Africa. The economy of the country is heavily reliant on the mining industry. It primarily exports copper, gold, and precious stones. The country's economy is projected to grow further with continued investment in the mining sector. AngloGold Ashanti Limited (NYSE:AU) and DRDGOLD Limited (NYSE:DROOY) are among the top mining companies in Africa. Other top African companies that are driving the region's economy include Airtel Africa Plc (LON:AAF), MTN Group Ltd (OTC:MTNOY), and IHS Holding Limited (NYSE:IHS).12. The United Republic of TanzaniaTotal GDP in 2022: $75.709 BillionExports of Goods and Services in 2022: $11.675 BillionTanzania has many exports compared to other countries in the region. The country relies heavily on gold mining. The country has considerable growth potential. It is one of the most respected countries in Africa.11. The Republic of KenyaTotal GDP in 2022: $113.420 BillionExports of Goods and Services in 2022: $13.854 BillionKenya is a fast-growing economy and one of the most respected countries in Africa. Kenya is located in east Africa with a coastline on the Indian Ocean. According to the World Bank, in 2022, real GDP increased by 6% year over year. 10. The Republic of Côte d'IvoireTotal GDP in 2022: $70.018 BillionExports of Goods and Services in 2022: $17.395 BillionCôte d'Ivoire is located in West Africa. The country mainly exports gold, petroleum, and cocoa beans. It is one of the most advanced countries in Africa. The country also has a higher income level than other countries in the region. 9. The Republic of GhanaTotal GDP in 2022: $72.838 BillionExports of Goods and Services in 2022: $20.049 BillionGhana is located in Western Africa. The country exports many products, including crude oil and cocoa beans. The manufacturing sector in the country is also developing rapidly. Ghana manufactures many electronics and electric cars. It is one of the most respected countries in Africa. 8. The Tunisian Republic Total GDP in 2022: $46.664 BillionExports of Goods and Services in 2022: $22.487 BillionTunisia is located in Northern Africa. The country has a flourishing export sector. Textile and clothing are Tunisia's most prominent exports. The phosphate and mining sector significantly add to the overall GDP of the country. 7. Democratic Republic of CongoTotal GDP in 2022: $58.065 BillionExports of Goods and Services in 2022: $27.884 BillionDemocratic Republic of Congo is one of the most respected countries in the region. The country has a fast-growing economy. The mining and services sectors of the country contribute significantly to the overall economy. For investors looking to increase their exposure to the African market, some stocks to consider include AngloGold Ashanti Limited (NYSE:AU), DRDGOLD Limited (NYSE:DROOY), Airtel Africa Plc (LON:AAF), MTN Group Ltd (OTC:MTNOY), and IHS Holding Limited (NYSE:IHS).6. The Republic of AngolaTotal GDP in 2022: $106.713 BillionExports of Goods and Services in 2021: $29.843 BillionAngola is located in central Africa. Angola is one of the largest oil producers in Africa. Crude oil and petroleum gas are the top exports of the country. The country has a promising export market. The exports directly correspond to its relationship with other countries and reflect its reputation. Click to continue reading and see the 5 Most Respected Countries In Africa.Suggested articles:15 Countries That Own the Most U.S. Debt11 Most Undervalued Renewable Energy Stocks to BuyEurope's 17 Most Dangerous Countries To Drive InDisclosure: None. 15 Most Respected Countries In Africa is originally published on Insider Monkey.

Insider Monkey

15 Most Respected Countries In Africa

https://finance.yahoo.com/news/15-most-respected-countries-africa-211339586.html

fcfbc658-61ea-3606-babd-faa4c47da2b1

AUBN

The board of Auburn National Bancorporation, Inc. (NASDAQ:AUBN) has announced that it will pay a dividend on the 25th of September, with investors receiving $0.27 per share. Based on this payment, the dividend yield on the company's stock will be 4.9%, which is an attractive boost to shareholder returns. View our latest analysis for Auburn National Bancorporation Auburn National Bancorporation's Dividend Forecasted To Be Well Covered By EarningsA big dividend yield for a few years doesn't mean much if it can't be sustained.Auburn National Bancorporation has a long history of paying out dividends, with its current track record at a minimum of 10 years. Past distributions do not necessarily guarantee future ones, but Auburn National Bancorporation's payout ratio of 36% is a good sign as this means that earnings decently cover dividends.Looking forward, earnings per share could rise by 5.1% over the next year if the trend from the last few years continues. If the dividend continues on this path, the future payout ratio could be 35% by next year, which we think can be pretty sustainable going forward.historic-dividendAuburn National Bancorporation Has A Solid Track RecordThe company has a sustained record of paying dividends with very little fluctuation. The dividend has gone from an annual total of $0.82 in 2013 to the most recent total annual payment of $1.08. This means that it has been growing its distributions at 2.8% per annum over that time. Although we can't deny that the dividend has been remarkably stable in the past, the growth has been pretty muted.We Could See Auburn National Bancorporation's Dividend GrowingInvestors who have held shares in the company for the past few years will be happy with the dividend income they have received. It's encouraging to see that Auburn National Bancorporation has been growing its earnings per share at 5.1% a year over the past five years. A low payout ratio and decent growth suggests that the company is reinvesting well, and it also has plenty of room to increase the dividend over time.Story continuesWe Really Like Auburn National Bancorporation's DividendOverall, we think that this is a great income investment, and we think that maintaining the dividend this year may have been a conservative choice. The company is easily earning enough to cover its dividend payments and it is great to see that these earnings are being translated into cash flow. All in all, this checks a lot of the boxes we look for when choosing an income stock.Companies possessing a stable dividend policy will likely enjoy greater investor interest than those suffering from a more inconsistent approach. At the same time, there are other factors our readers should be conscious of before pouring capital into a stock. As an example, we've identified 1 warning sign for Auburn National Bancorporation that you should be aware of before investing. If you are a dividend investor, you might also want to look at our curated list of high yield dividend stocks.Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

Simply Wall St.

Auburn National Bancorporation (NASDAQ:AUBN) Is Paying Out A Dividend Of $0.27

https://finance.yahoo.com/news/auburn-national-bancorporation-nasdaq-aubn-100149739.html

c0df2ae4-808d-3a39-9400-f34fa9602fac

AUBN

Regular readers will know that we love our dividends at Simply Wall St, which is why it's exciting to see Auburn National Bancorporation, Inc. (NASDAQ:AUBN) is about to trade ex-dividend in the next four days. The ex-dividend date is one business day before the record date, which is the cut-off date for shareholders to be present on the company's books to be eligible for a dividend payment. The ex-dividend date is an important date to be aware of as any purchase of the stock made on or after this date might mean a late settlement that doesn't show on the record date. This means that investors who purchase Auburn National Bancorporation's shares on or after the 7th of September will not receive the dividend, which will be paid on the 25th of September.The company's upcoming dividend is US$0.27 a share, following on from the last 12 months, when the company distributed a total of US$1.08 per share to shareholders. Based on the last year's worth of payments, Auburn National Bancorporation stock has a trailing yield of around 5.0% on the current share price of $21.74. Dividends are an important source of income to many shareholders, but the health of the business is crucial to maintaining those dividends. So we need to check whether the dividend payments are covered, and if earnings are growing. View our latest analysis for Auburn National Bancorporation If a company pays out more in dividends than it earned, then the dividend might become unsustainable - hardly an ideal situation. Auburn National Bancorporation paid out a comfortable 36% of its profit last year.Companies that pay out less in dividends than they earn in profits generally have more sustainable dividends. The lower the payout ratio, the more wiggle room the business has before it could be forced to cut the dividend.Click here to see how much of its profit Auburn National Bancorporation paid out over the last 12 months.historic-dividendHave Earnings And Dividends Been Growing?Stocks in companies that generate sustainable earnings growth often make the best dividend prospects, as it is easier to lift the dividend when earnings are rising. If business enters a downturn and the dividend is cut, the company could see its value fall precipitously. With that in mind, we're encouraged by the steady growth at Auburn National Bancorporation, with earnings per share up 6.6% on average over the last five years.Story continuesMany investors will assess a company's dividend performance by evaluating how much the dividend payments have changed over time. In the past 10 years, Auburn National Bancorporation has increased its dividend at approximately 2.8% a year on average. It's encouraging to see the company lifting dividends while earnings are growing, suggesting at least some corporate interest in rewarding shareholders.To Sum It UpIs Auburn National Bancorporation an attractive dividend stock, or better left on the shelf? It has been growing its earnings per share somewhat in recent years, although it reinvests more than half its earnings in the business, which could suggest there are some growth projects that have not yet reached fruition. Auburn National Bancorporation ticks a lot of boxes for us from a dividend perspective, and we think these characteristics should mark the company as deserving of further attention.So while Auburn National Bancorporation looks good from a dividend perspective, it's always worthwhile being up to date with the risks involved in this stock. For example - Auburn National Bancorporation has 1 warning sign we think you should be aware of.If you're in the market for strong dividend payers, we recommend checking our selection of top dividend stocks.Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

Simply Wall St.

Auburn National Bancorporation, Inc. (NASDAQ:AUBN) Looks Interesting, And It's About To Pay A Dividend

https://finance.yahoo.com/news/auburn-national-bancorporation-inc-nasdaq-120556283.html

c5bbc8e6-66c6-3a5b-8a54-687c7f89760e

AUID

ParticipantsGraham Arad; General Counsel; authID Inc.Annie Pham; CFO; authID Inc.Rhon Daguro; CEO & Director; authID Inc.Tom Szoke; Founder, CTO; authID Inc.Hunter Diamond; Analyst; Diamond Equity Research LLCRicky Solomon; Analyst; Wilmot Advisors LLCDavid Kaplan; Analyst; Madison Global Partners, LLCPresentationOperatorHello, and thank you for standing by. Welcome to authID second-quarter 2023 earnings conference call and webcast. (Operator Instructions)I would now like to turn the conference over to Graham Arad. You may begin.Graham AradThank you, operator. Good afternoon, everyone. With me on today's call are our CEO, Rhon Daguro; and our CFO, Annie Pham. By now, you should have access to today's press release announcing our second-quarter 2023 results. If you have not received this, the release can be found on our website at www.authid.ai, under the Investor Relations section.Turn to slide 2. Throughout this conference call, we will be presenting certain non-GAAP financial information. This information is not calculated in accordance with GAAP, and may be calculated differently from other companies similarly titled non-GAAP information. Quantitative reconciliations of our non-GAAP adjusted EBITDA information to the most directly comparable GAAP financial information appear in today's press release.Before we begin our formal remarks, let me remind everyone that part of our discussion today will include forward-looking statements. Such forward-looking statements are not guarantees of future performance, and therefore, you should not put undue reliance on them. These statements are subject to numerous risks and uncertainties that could cause actual results to differ materially from what we expect. Some of these risks are mentioned in today's press release, others are discussed in our Form 10-K, and other filings which were made available at www.sec.gov.We will have a question-and-answer session following our presentation. To participate in the Q&A, you must be registered on the telephone. You can find the link for telephone registration on the Investor Relations section of the authID website.I'd now like to introduce our CFO, Annie Pham.Story continuesAnnie PhamThank you, Graham. Turning to slide number 3. The following highlights compare results from continuing operations for the quarter and six-month ended June 30, 2023, with the quarter and six-month ended June 30, 2022, unless specified otherwise.Total revenue was $0.04 million for the second quarter, compared with $0.07 million a year ago. For the six-month period ended June 30, 2023, total revenue was $0.07 million, compared with $0.2 million a year ago. The reduction was primarily attributed to revenue from a legacy authentication product that was discontinued in April 2022.Operating expenses declined to $2.8 million for Q2, compared with $6 million a year ago. For the six-month period in 2023, operating expenses declined to $7.2 million, compared with $11.2 million for the same period last year. The reduction was primarily due to the company's cost savings measure, resulting in lower headcount and third-party vendor costs.Loss was $10.9 million for the second quarter with non-cash charges of $9.2 million, compared with a loss of $6.4 million a year ago with non-cash charges of $3.3 million. For the six-month period in 2023, loss was $16.1 million with non-cash and one-time severance charges of $12.2 million, compared with a loss for the same period last year of $11.5 million with non-cash and one-time severance charges of $5.6 million.The increase in non-cash charges in the second quarter and six-month period this year was primarily due to the one-time conversion expense of $7.5 million related to the exchange of convertible notes for shares of our common stock that the company executed in May 2023.Net loss per share was $2.15 for the second quarter, compared with $2.06 a year ago. For the six-month period in 2023, net loss per share was $3.91, compared with $3.80 for the same period last year.Turning to slide 4, our non-GAAP results. Adjusted EBITDA loss improved to $1.7 million for Q2, compared with $3 million a year ago, primarily due to cost savings from our Q1 2023 restructuring plan. For the six-month period in 2023, adjusted EBITDA loss improved to $3.9 million, compared with $5.9 million for the same period last year.The company defines book annual recurring revenue or BARR, as the amount of annual recurring revenue represented by the estimated amount of annual recurring revenue we believe will be earned under such contracted orders, looking out 18 months from the date of signing of each customer contract. The net amount of BARR reflects the deduction of the BARR of contract previously included in reported BARR, which was subject to attrition during the quarter.The gross amount of BARR from contract signed in the second quarter of 2023 was $239,000. The net amount of BARR was $221,000 after attrition, compared to $32,000 of BARR signed in the second quarter of 2022.The company defines annual recurring revenue or ARR, as the amount of recurring revenue derived from sales of all verified products during the last three months of the relevant period. In this case, the three months ended June 2023, as determined in accordance with GAAP multiplied by four. The amount of ARR as of June 30, 2023, was approximately $144,000, compared to approximately $118,000 in the second quarter of 2022.Turning to slide 5. Over the last quarter, we have made significant progress on our efforts to improve our balance sheet and financial position. In May, the authID team and Medicine Global Partners, our financial advisor, and sole placement agents executed a successful fundraise of $8.2 million in gross proceeds before expenses.The effort also included the cancellation of a $0.9 million note, including interest held by Stephen Garchik. Simultaneously with the fundraise, our team worked with our note holders to capitalize nearly all of the company convertible notes, totaling approximately $8.9 million by exchanging the debt for shares of common stock.We are pleased to see the continued confidence in the future of the company, as shown by our existing investors, Board members, and the interest from new shareholders.Following the approval by shareholders at our most recent annual Shareholder Meeting, we completed a one-for-eight reverse stock split of our common stock on Monday, July 10, 2023. As a result, every eight issued shares of common stock were automatically combined into one share of common stock. These efforts were critical to improving our balance sheet, reducing our cash requirements for a 12-month operating budget, and regaining compliance with Nasdaq listing requirements.Finally, as this will be my last quarterly earnings conference call with the company, I want to thank the investors; our Board of Directors; our CEO, Rhon Daguro; and my colleagues for this experience. I also want to welcome Ed Sellitto, as he prepares to take over the CFO role. It had been a great honor to serve as a CFO, and I have every confidence in the company's continued success. And wish all of you the best for the future.With that, I'd like now to turn the call over to our CEO, Rhon Daguro.Rhon DaguroThank you, Annie. I do want to take a moment to extend my sincere appreciation to you, for all your hard work and valued insights over the last few months. Under extremely tight timeframes, you helped us close a recent fundraise and note conversion, as well as helping us regain compliance with the Nasdaq listing standards. You've been an integral part of helping lead authID, and I wish you all the best on your next endeavors.Turning to slide 7. So I came to authID because of the opportunity to build a high-performance sales machine for the company to achieve strong growth.To that end, it gives me great pleasure to welcome Ed Sellitto, who will join authID as the Chief Financial Officer, effective August 15, 2023. Mr. Sellitto is a seasoned financial executive with over 15 years of experience in revenue optimization roles, supporting high-growth B2B and SaaS organizations that needed to be built and optimized for go-to-market operations.Ed has worked at companies including Zero Hash, Sprinklr, Socure, American Express, and News Corp. Ed earned his MBA in Corporate Finance and Strategy from the Stern School of Business at New York University. Having previously worked with Ed at an identity business where we grew ARR by over $100 million in three years, I very much respect his exceptional intellect and agility, and proven success in helping drive revenue optimization. I am confident that Ed will be integral to our efforts to grow our business, increase our sales, and advance authID to the next level of market leadership.To achieve high market growth, we also need a proven and accomplished sales team. It gives me great pleasure to introduce our new sales executives: Greg Manship, Dale Daguro, and Jeff Scheidel, who joined us in July to help us build a sales-centric organization, grow our pipeline, and put customer wins on the board. Greg, Dale, and Jeff will bring a wealth of experience in sales leadership and business development. They are also leading identity domain experts who are highly versed in technical knowledge required to build credibility with our customers and present solutions to our customers' challenges.Between them, they have decades of experience in the identity and access management space.Greg has many years in the identity sales and also has been through several successful exits in the space. Dale, with years in identity access management, has personally designed and built solutions and user experiences for multiple organizations, including Oracle. Jeff has spent over a quarter century in the identity access management industry and even wrote a McGraw-Hill, best-selling book on the exact topic.All of them have built key customer relationships in major industries such as banking, credit, e-commerce, cyber security, and other verticals we are actively pursuing. Each of the VP of Sales will be responsible for executing authID sales strategy, developing and expanding key customer and partner relationships, and driving our revenue growth across these verticals.These additions to our sales teams are the right people at the right time. They are hyper-focused on executing on a proven sales framework, launching our authID University, and strengthening the organization's sales-first mindset. I am confident that Greg, Dale, and Jeff, along with our new CFO, Ed, will strengthen the current team. And together, we will be successful in accelerating authID's growth.Moving to slide 8. One of my fundamental selling principles is that the key to long-term security sales success is delivering technology that offers an amazing user experience and enforces the highest levels of security. And more importantly for authID, our products must make the security seamless to the end-user. To that end, our product management, engineering, and development teams have been very busy over the last few months issuing six major releases to our Verified platform.We prioritize efforts to deliver maximum platform uptime and availability, improve accuracy and speed, and increase first-pass transaction success rates. We fortified our identity verification solution for our new customer onboarding by adding layers of additional fraud detection. We refined our user interface for both document and selfie capture, and delivered easy-to-use self-service onboarding workflows for our workforce customers.authID is at the forefront of accuracy and speed when it comes to biometric identity verification solutions. With our ability to perform lightning-fast backend processing in 700 milliseconds, that's about a half a second, and this performance far outshines our competition who are at best offer speeds of five to nine seconds as tested by customers.Said differently, authID is 5 to 10 times faster than our best competition, which drives an amazing user experience. This is the value proposition customers are getting very excited about. This is what makes me confident that our continued investment and innovation of our patented identity platform will be authID's defining value proposition to win the market.Turning to slide 9. So in the short time since I joined authID, our sales team generated several strong customer wins in Q2, representing $239,000 in booked annual recurring revenue, which I'll call BARR. The highest total BARR in sales that authID has achieved in a single quarter to-date, and almost equal to the BARR booked the entire year of 2022. authID was selected by these new customers because of our ability to deliver fully orchestrated fast, accurate, and user-friendly identity journeys across a range of use cases.For instance, financial institutions continue to demand streamlined onboarding, and the need to prevent rampant identity fraud and security threats. Through a channel partner, we booked a large 600,000 member credit union who began generating revenue in the same quarter. This was my first deal as CEO in my first week at authID. This credit union is using authID's biometric identity verification solution to streamline customer onboarding and weed out imposters.Our message for protecting workforce applications has also begun to resonate. In June, we signed an international recruitment platform, who will use our services to verify identity of new hires and automate identity document collection.And last but not least, as seen with our most recent customer announcement, we were selected by ABM Industries, a Fortune 500 company and one of the largest providers of facility services and solutions to secure employee access to their workforce applications on shared corporate devices. So let's dig deep into that one a little bit more.So moving to slide 10. The contract with ABM Industries represents a significant win with the well-established Fortune 500 New York Stock Exchange listed company. ABM has over 100,000 US and international service workers deployed across diverse locations, including aviation, education, healthcare, and hospitality. In fact, the next time you walk through an airport, you will likely see the ABM logo on a number of service personnel.With such a large workforce using shared corporate devices, authID's ability to provide an easy-to-use, secure biometric authentication experience was critical to winning this deal. It's always special when a customer confirms why authID was selected. So let's turn to the words of Stephanie Franklin-Thomas, ABM's Chief Information Officer, on why they selected authID.Begin quote, ABM is focused on elevating the client and team member experience through technology and data. We selected authID for its combination of security, seamless user experience, shared device support, and cost-effective delivery. Their innovative biometric authentication solutions offer the ultimate in passwordless security, accuracy and speed. End quote.In addition to being a big sales win for authID, this use case is also an optimal case study for solving one of the biggest challenges in workforce security, securing access to companies' workforce applications on shared corporate devices.Organizations that deploy shared devices battle constant attacks by cyber criminals who prey on passwords, legacy authentication, and employee error. Corporate IT teams must address significant shared device authentication challenges, including difficult user experiences, shared passwords, and expensive hardware tokens. These organizations are looking to move towards zero-trust architecture that mandates secure, strong authentication across all the applications.Therefore, the opportunity for helping organizations using shared devices advance their zero-trust security with secure and seamless biometric authentication is vast across various industries. For example, in healthcare, doctors, nurses, administrators, shared desktops, laptops, and mobile devices. Retail, hospitality and entertainment segments also deploy a large number of shared tablets and shared workstations that will require employees to utilize a form of strong authentication.Until now, the de facto authentication for these devices has involved deploying unwieldy and costly key cards and hardware tokens, which can easily be lost, shared or stolen. authID solves for shared device security across all industries with next-generation biometric authentication. Delivering a highly secure and streamlined user experience, we accelerate a zero-trust security framework. Now, with the proven case study on ABM Industries, we will leverage this success to secure more customers with shared device challenges.Turning to slide 11. Now, to our go-to-market efforts. In addition to the shared device opportunity, we see an expanded product market fit for our biometric identity verification and authentication solutions in FinServ, fin tech, healthcare, entertainment, and the gig economy. These organizations are looking to authID for our fast, convenient, and highly accurate solutions that stop fraud and streamline onboarding, as well as providing strong authentication that protects against phishing and account takeover attacks. And reduces helpdesk costs due to the account and password reset request.Organizations should not have to compromise cyber security and identity assurance for frictionless user experience. Which is why, authID delivers both and we will continue to focus on our mission. To deliver the best solution on the market that eliminates authentication fraud, offers zero-trust protection, and provides the fastest and easiest user experience with the highest degree of accuracy.Turning to slide 12. So in June, we engaged The Pipeline Group, which was instrumental in helping me build a unicorn business in my previous role. Bringing their lead generation technology and strong talent in generating high-quality first call meetings, TPG continues to drive high-value conversations with high-value targets for our sales organization.Since June 20, the TPG team has performed over 40,000 outbound calls, held over 2,100 live conversations, and generated 77 meetings with high-value targets. We completed half of these meetings where we created nearly $2.4 million in new opportunities over 31 business days. Doing the math, if TPG continues to add opportunities at this rate over the next 12 months, we will be well on our way to realizing our target of $30 million in qualified sales pipeline.Moving to slide 13. We had a busy and successful second quarter. We enhanced our balance sheet; strengthened and added new features to our technology platform; and most importantly, we booked $239,000 in BARR in customer wins. Together, these efforts are helping us build momentum in our business, and I am confident that authID will continue to deliver based on this winning formula.First, our total adjustment market for integrated identity platforms is estimated to grow from $48 billion in 2023 to approximately $116 billion by 2027. We also continue to identify and expand a set of use cases with our prospects for our services to protect both the consumer and workforce applications.Second, authID has the right product with clear value over the competition. Our identity platform delivers speed, accuracy, and the best user experience for the identity verification and authentication that is second to none.And third, we have the right team. Our new CFO will bring his proven experience in revenue optimization. Our new laser-focused sales leaders will generate new opportunities and book additional wins. And finally, our authID University program will ensure that we build a high-performance organization, populated with experts who execute based on proven sales framework and a sales-first mindset.With confidence in this winning formula, we continue to be on track with our target to deliver customer wins totaling $3 million in BARR over the next 12 months. In summary, I am extremely pleased with our success in strengthening our finances, enhancing our technology, generating sales leads and wins, and developing a sales-centric culture.Once again, I want to thank all the investors for their continued faith in authID. We would now like to open the call to questions. I will turn the call back to Graham.Question and Answer SessionGraham AradWell, thank you, Rhon. We'll now turn it back to the operator, who will explain again how to raise a question for those who have signed in and registered on the telephone line. Operator?Operator(Operator Instructions)Graham AradThank you, operator. Whilst we are compiling the Q&A roster, Rhon, you've talked about all of the steps and achievements over the last quarter. What do you see as the next major challenges and opportunities in the coming months through the rest of the year?Rhon DaguroWell, the exciting thing for us is that we've been spending a lot of time building the foundation, right? Getting the finances right, getting the people right, and then really understanding how to articulate this message to fit the use case. And that's what we've really been spending our time over the last four or five months.The challenge now over the next six to nine months is we need to execute on everything that we've been building on. Really going after the customers, delivering this message to our customers, and do it as fast as possible. And really, that's going to be the focus over the next six to nine months.Graham AradOkay. Thank you. Operator, would you like to invite the first questioner, please?OperatorHunter Diamond, Diamond Equity.Hunter DiamondHi. Congratulations on the results. So I had a couple of questions. The first one was, maybe if you could give more clarity on the size of the companies you're targeting, the industries? And then what solutions are they utilizing right now? I don't know if it's two-factor, other software solutions. But what are they comping your offering to?Rhon DaguroLet me -- so there's a couple of questions in there. So let me unpack them first. So the types of organizations we're going after, we categorize them in three tiers. There's tier one, very, very large enterprise; tier two, more of like a medium-sized enterprise; and tier three, which is more of the startups or emerging technology.The way we approach it is, there's a strategic set of accounts that we believe are the most strategic for authID. So very large and also strong use cases for us. And then there's another set, which we call the fast 100 list, which is our customers who just perfectly fit our sweet spot. We can solve their problems very quickly, and we can do a deal very quickly.And so that's how we're approaching it. It's about 200 accounts, split across those three types of tiers.The use cases fall in two categories. Essentially, our core use case is facial biometric authentication. Basically replacing the password with a very strong facial biometric authentication, essentially. So that is really the core use case. And then these customers that we've closed have also extended that use case, not only for replacing passwords from personal devices, but also to replace passwords on a shared device. And that's what we had highlighted there with ABM.The other use cases involve identity proofing or identity verification, which is the first time any company sees any identity. So is Rhon really Rhon? Or is it Tom pretending to be Rhon? That particular use case when somebody's applying for a credit card, applying for an account, that is the secondary use case that we're also seeing in these accounts. And luckily for us, both of those use cases have been served by these customers that we've closed recently in our Q2.Hunter DiamondGreat. No, perfect. That makes a lot of sense. And then my second question is, obviously the gross margin profile. Its early days of the revenue ramp, and obviously the revenue isn't too material today, and you've guided for -- not formal guidance, but you've said an annual run rate that you're looking to hit.What do you see as the margins or gross margin targets for this business? Obviously, large SaaS companies are very high gross margin, or Salesforce, Oracle, in general. So do you have any thoughts on the gross margin targets?Rhon DaguroI do. I do. Absolutely, absolutely. And we have a formulary here. So essentially, world-class gross margins, at least in this particular space that we're aiming for, is above 85%. But we are, just to be clear, we are going to go win our first 10 Halo accounts, then we're going to go win our next 100 accounts, and then we're going to go win our next 100 accounts.So efficiency early on, as we get our customers excited about our technology will maybe go below those margins. But ultimately, we're aiming for 80%, 85%.Hunter DiamondGreat. Perfect. No, that's it for me. I'll open the line for other questions. Thank you for addressing those points.Rhon DaguroAppreciate the questions.OperatorRicky Solomon, Wilmot.Ricky SolomonHey, guys. So my question is about the product, and then about the TAM. So it seems to me, just early discussions, and am hearing you talk now about the opportunities that are there. The TAM has increased, and it sounds like there's a lot of use cases for our technology.How much work do we have to do to expand the TAM? What tweaks can we do to expand the product to fit the market needs? And how long will it take to get the product to a point where it's massively scalable?Rhon DaguroTom, you want to address that?Tom SzokeYeah, absolutely. So on the product. The current product is designed to service within those two types of markets that Rhon described, the fast 100. In that market, our product is a direct fit. Our key differentiator and what people are coming to us for are the speed, the accuracy, and the user experience. It's what we invested into. And that is what is bringing them to us as customers.The larger accounts obviously have incremental requirements. And those are being put into our pipeline on a roadmap, as those opportunities come in. So we're developing those in accordance as the opportunities come in.The product is scalable as it is right now. And we're ready to service those accounts that meet the requirements. So there's not that much incremental work to do to what we would say scalable. It's there already.Rhon DaguroAnd to answer the other question around, what does it take to expand, the customers are sharing more use cases with us. And we're learning more and more. So we'll go ahead and try to address that more in the future. But the use cases are expanding as we meet with those customers.Ricky SolomonGreat. Thanks.Operator(Operator Instructions)Graham AradThank you, operator. I've just -- I've neglected to introduce our last speaker was Tom Szoke. Some of you will be -- many of you will be familiar with as our founder and CTO. And Tom is obviously also on the call.While we're waiting for any additional questions, Rhon, perhaps you could expand a little bit. You talked about the significance of the ABM deal in terms of shared device market, which obviously is one particular but large use case. Can you talk a little bit more about that? And what does the competition in the shared device market look like?Rhon DaguroThat use case is very significant in the sense that the customer themselves have been evaluating solutions for over a year and a half. They've been looking at every single vendor, every single option, because this is a very big problem for any organization that has shared devices. So think similar companies like ABM, large stadiums, large airports, anywhere where there's a large, massive workforce. And you may even consider that population low tech.So they need to have the ability to have the highest levels of security, regardless of whether there's high technology involved or low technology involved. And ABM obviously hadn't looked at all those solutions, which is why that's very significant and telling for us at authID.So based off of their own analysis of the competition, they obviously selected authID for those things I described earlier, which was speed, accuracy, and the amazing user experience. The key thing in any authentication in the world, anytime you have to go log into a system, seconds, minutes, any of those things will upset anybody in a user experience. They have to get in very, very quickly. And essentially that's what we saw for ABM.Like I alluded earlier, in the marketplace, there is nobody faster than us. And so in terms of competition, yes, there are people trying to solve this shared device use case. But nobody can solve it as fast as we can.Graham AradThank you, Rhon. Next question, operator?OperatorDavid Lerner (sic - "David Kaplan"), Madison Global Partners.David KaplanHey, Rhon.Rhon DaguroHey, David.David KaplanHey, Tom.Tom SzokeHi, David.David KaplanHi, Graham. So what I think I heard was 77 meetings were set up in a month's time. And you are moving forward with some percentage of that 77. Did you give a number there?Rhon DaguroSo 77 are scheduled meetings. And of those 77, we created 19 opportunities. So about a 58% for the month of July.David KaplanGot it. Is it asking too much to know the average size of those 19?Rhon DaguroLittle --David KaplanThe average BARR?Rhon DaguroSo the total BARR opportunity created for those 19 opportunities was $2.4 million, which I did state earlier. So nothing to hide there. $2.4 million in opportunities off those 19 opportunities.David KaplanAnd those are fast 100s?Rhon DaguroAbsolutely. Because the fast 100 accounts are the ones that we are going to show value to the market and show value to the business in the next six to nine months. The strategic 100, they are the larger organizations. Think large, like very big banks, very big strategic organizations. Those that are a little slower to move on adopting technology. And so that's how we're planning on attacking those accounts.David KaplanAnd they are not in the $2.4 million? You're separating these TPG meetings?Rhon DaguroAbsolutely.David KaplanOkay. Well, thank you. Congratulations on your team. Good luck with your new financial folks. And continued success to you, my friends.Rhon DaguroThank you, David.OperatorThank you. At this time, I would like to turn the call back over to Rohn for closing remarks.Rhon DaguroWell, one, I wanted to thank everybody again for their extreme support, as well as their patience for us as we rebuild the organization and get this thing on its way. Hopefully, we will continue to share good results, which I know we will.So thank you for your questions and your time today. Thank you.OperatorLadies and gentlemen, this concludes today's conference call. Thank you for your participation. You may now disconnect.

Thomson Reuters StreetEvents

Q2 2023 Authid Inc Earnings Call

https://finance.yahoo.com/news/q2-2023-authid-inc-earnings-174727434.html

98dc5fe8-cad4-3cc0-8aad-d7ea340319f3

AUID

authID Inc. (NASDAQ:AUID) Q2 2023 Earnings Call Transcript August 10, 2023Operator: Hello, and thank you for standing by. Welcome to authID Second Quarter 2023 Earnings Conference Call and webcast. At this time all participants are in a listen-only mode. After the speakers presentation there will be a question-and-answer session. [Operator Instructions]. I would now like to turn the conference over to Graham Arad. You may begin.Graham Arad: Thank you, operator. Good afternoon, everyone. With me on today's call are our CEO, Rhon Daguro and our CFO, Annie Pham. By now, you should have access to today's press release announcing our second quarter 2023 results. If you have not received this, the release can be found on our website at www.authid.ai under the Investor Relations section. Turn to slide two. Throughout this conference call, we will be presenting certain non-GAAP financial information. This information is not calculated in accordance with GAAP and may be calculated differently from other companies similarly titled non-GAAP information. Quantitative reconciliations of our non-GAAP adjusted EBITDA information to the most directly comparable GAAP financial information appear in today's press release.Before we begin our formal remarks, let me remind you everyone that part of our discussion today will include forward-looking statements. Such forward-looking statements are not guarantees of future performance, and therefore, you should not put undue reliance on them. These statements are subject to numerous risks and uncertainties that could cause actual results to differ materially from what we expect. Some of these risks are mentioned in today's press release, others are discussed in our Form 10-K and other filings which were made available at www.sec.gov. We will have a question-and-answer session following our presentation. To participate in the Q&A, you must be registered on the telephone. You can find the link for telephone registration on the Investor Relations section of the authID website.Story continuesI'd now like to introduce our CFO, Annie Pham.Annie Pham: Thank you, Graham. Turning to slide number three, the following highlights compare results from continuing operations for the quarter and six-month ended June 30, 2023, with the quarter and six-month ended June 30, 2022 unless specified otherwise. Total revenue was $0.04 million for the second quarter compared with $0.07 million a year ago. For the six-month period ended June 30, 2023, total revenue was $0.07 million compared with $0.2 million a year ago. The reduction was primarily attributed to revenue from a legacy authentication product that was discontinued in April 2022. Operating expenses declined to $2.8 million for Q2 compared with $6 million a year ago. For the six-month period in 2023, operating expenses declined to $7.2 million compared with $11.2 million for the same period last year.The reduction was primarily due to the company cost savings measure, resulting in lower headcount and third-party vendor costs. Loss was $10.9 million for the second quarter, with non-cash charges of $9.2 million compared with a loss of $6.4 million a year ago with non-cash charges of $3.3 million. For the six-month period in 2023, loss was $16.1 million with non-cash and one-time severance charges of $12.2 million compared with a loss for the same period last year of $11.5 million with non-cash and one-time severance charges of $5.6 million. The increase in non-cash charges in the second quarter and six-month period this year was primarily due to the one-time conversion expense of $7.5 million related to the exchange of convertible notes for shares of our common stock that the company executed in May 2023.Net loss per share was $2.15 for the second quarter compared with $2.06 a year ago. For the six-month period in 2023, net loss per share was $3.91 compared with $3.80 for the same period last year. Turning to slide four, our non-GAAP results, adjusted EBITDA loss improved to $1.7 million for Q2 compared with $3 million a year ago, primarily due to cost savings from our Q1 2023 restructuring plan. For the six-month period in 2023, adjusted EBITDA loss improved to $3.9 million compared with $5.9 million for the same period last year. The company defines Book Annual Recurring Revenue or BARR, as the amount of annual recurring revenue represented by the estimated amount of annual recurring revenue we believe will be earned under such contracted orders, looking out 18 months from the date of signing of each customer contract.The net amount of BARR reflects the deduction of the BARR of contract previously included in reported BARR, which was subject to attrition during the quarter. The gross amount of BARR from contract signed in the second quarter of 2023 was $239,000. The net amount of BARR was $221,000 after attrition, compared to $32,000 of BARR signed in the second quarter of 2022. The company defines annual recurring revenue or ARR, as the amount of recurring revenue derived from sales of all verified products during the last three months of the relevant period. In this case, the three months ended June 2023, as determined in accordance with GAAP multiplied by four. The amount of ARR as of June 30, 2023, was approximately $144,000, compared to approximately $118,000 in the second quarter of 2022.Turning to slide five. Over the last quarter, we have made significant progress on our efforts to improve our balance sheet and financial position. In May, the authID team and Medicine Global Partners, our financial advisors, and sole placement agents executed a successful fundraise of $8.2 million in gross proceeds before expenses. The effort also included the cancellation of a $0.9 million note, including interest held by Stephen Garchik. Simultaneously with the fundraise, our team worked with our note holders to capitalize nearly all of the company's convertible notes, totaling approximately $8.9 million by exchanging the debt for shares of common stock. We are pleased to see the continued confidence in the future of the company as shown by our existing investors, board members, and the interest from new shareholders.Following the approval by shareholders at our most recent annual Shareholder Meeting, we completed a 1-for-8 reverse stock split of our common stock on Monday, July 10, 2023. As a result, every eight issued shares of common stock were automatically combined into one share of common stock. These efforts were critical to improving our balance sheet, reducing our cash requirements for a 12-month operating budget, and regaining compliance with NASDAQ listing requirements. Finally, as this will be my last quarterly earnings conference call with the company, I want to thank the investors, our Board of Directors, our CEO, Rhon Daguro, and my colleagues for this experience. I also want to welcome Ed Sellitto, as he prepares to take over the CFO role.It had been a great honor to serve as a CFO, and I have every confidence in the company's continued success and wish all of you the best for the future. With that, I'd like now to turn the call over to our CEO, Rhon Daguro.Rhon Daguro: Thank you, Annie. I do want to take a moment to extend my sincere appreciation to you for all your hard work and valued insights over the last few months. Under extremely tight timeframes, you helped us close a recent fundraise and note conversion, as well as helping us regain compliance with the NASDAQ listing standards. You've been an integral part of helping lead authID, and I wish you all the best on your next endeavors. Turning to slide seven. So I came to authID because of the opportunity to build a high-performance sales machine for the company to achieve strong growth. To that end, it gives me great pleasure to welcome Ed Sellitto, who will join authID as the Chief Financial Officer, effective August 15, 2023.Mr. Sellitto is a seasoned financial executive with over 15 years of experience in revenue optimization roles, supporting high-growth B2B and SaaS organizations that needed to be built and optimized for go-to-market operations. Ed has worked at companies including Zero Hash, Sprinklr, [inaudible], American Express, and News Corp. Ed earned his MBA in Corporate Finance and Strategy from the Stern School of Business at New York University. Having previously worked with Ed at an identity business where we grew ARR by over $100 million in three years, I very much respect his exceptional intellect and agility, and proven success in helping drive revenue optimization. I am confident that Ed will be integral to our efforts to grow our business, increase our sales, and advance authID to the next level of market leadership.Business, InvestmentPhoto by bruce-mars-8YG31Xn4dSw-unsplashTo achieve high market growth, we also need a proven and accomplished sales team. It gives me great pleasure to introduce our new sales executives, Greg Manship, Dale Daguro, and Jeff Scheidel, who joined us in July to help us build a sales-centric organization, grow our pipeline, and put customer wins on the board. Greg, Dale, and Jeff bring a wealth of experience in sales leadership and business development. They are also leading identity domain experts who are highly versed in technical knowledge required to build credibility with our customers and present solutions to our customers' challenges. Between them, they have decades of experience in the identity and access management space. Greg has many years in the identity sales and also has been through several successful exits in the space.Dale, with years in identity access management, has personally designed and built solutions and user experiences for multiple organizations, including Oracle. Jeff has spent over a quarter century in the identity access management industry and even wrote a McGraw-Hill, best-selling book on the exact topic. All of them have built key customer relationships in major industries such as banking, credit, e-commerce, cyber security, and other verticals we are actively pursuing. Each of the VP of Sales will be responsible for executing authID sales strategy, developing and expanding key customer and partner relationships, and driving our revenue growth across these verticals. These additions to our sales teams are the right people at the right time.They are hyper-focused on executing on a proven sales framework, launching our authID University, and strengthening the organization's sales-first mindset. I am confident that Greg, Dale, and Jeff, along with our new CFO, Ed, will strengthen the current team, and together, we will be successful in accelerating authID's growth. Moving to slide eight. One of my fundamental selling principles is that the key to long-term security sales success is delivering technology that offers an amazing user experience and enforces the highest levels of security. And more importantly for authID, our products must make the security seamless to the end-user. To that end, our product management, engineering, and development teams have been very busy over the last few months issuing six major releases to our verified platform.We prioritize efforts to deliver maximum platform uptime and availability, improve accuracy and speed, and increase first-pass transaction success rates. We fortified our identity verification solution for our new customer onboarding by adding layers of additional fraud detection. We refined our user interface for both document and selfie capture, and delivered easy-to-use self-service onboarding workflows for our workforce customers. authID is at the forefront of accuracy and speed when it comes to biometric identity verification solutions. With our ability to perform lightning-fast backend processing in 700 milliseconds, that's about a half a second, and this performance far outshines our competition who are at best offer speeds of five to nine seconds as tested by customers.Said differently, authID is 5x to 10x faster than our best competition, which drives an amazing user experience. This is the value proposition customers are getting very excited about. This is what makes me confident that our continued investment and innovation of our patented identity platform will be authID's defining value proposition to win the market. Turning to slide nine. So, in the short time since I joined authID, our sales team generated several strong customer wins in Q2, representing $239,000 in booked annual recurring revenue, which I'll call BARR. The highest total BARR in the sales – the highest total BARR in sales that authID has achieved in a single quarter to-date, and almost equal to the BARR booked the entire year of 2022.authID was selected by these new customers because of our ability to deliver fully orchestrated fast, accurate and user-friendly identity journeys across a range of use cases. For instance, financial institutions continue to demand streamlined onboarding and the need to prevent rampant identity fraud and security threats. Through a channel partner, we booked a large 600,000 member credit union who began generating revenue in the same quarter. This was my first deal as CEO in my first week at authID. This credit union is using authID's biometric identity verification solution to streamline customer onboarding and weed out imposters. Our message for protecting workforce applications has also begun to resonate. In June, we signed an international recruitment platform, who will use our services to verify identity of new hires and automate identity document collection.And last but not least, as seen with our most recent customer announcement, we were selected by ABM Industries, a Fortune 500 company and one of the largest, largest providers of facility services and solutions to secure employee access to their workforce applications on shared corporate devices. So let's dig deep into that one a little bit more. So moving to slide 10. The contract with ABM Industries represents a significant win with the well-established Fortune 500 New York Stock Exchange listed company. ABM has over 100,000 U.S. and international service workers deployed across diverse locations, including aviation, education, healthcare and hospitality. In fact, the next time you walk through an airport, you will likely see the ABM logo on a number of service personnel.With such a large workforce using shared corporate devices, authID's ability to provide an easy-to-use, secure biometric authentication experience was critical to winning this deal. It's always special when a customer confirms why authID was selected. So let's turn to the words of Stephanie Franklin-Thomas, ABM's Chief Information Officer, on why they selected authID. “ABM is focused on elevating the client and team member experience through technology and data. We selected authID for its combination of security, seamless user experience, shared device support, and cost-effective delivery. Their innovative biometric authentication solutions offer the ultimate in passwordless security, accuracy and speed.” In addition to being a big sales win for authID, this use case is also an optimal case study for solving one of the biggest challenges in workforce security, securing access to companies' workforce applications on shared corporate devices.Organizations that deploy shared devices battle constant attacks by cyber criminals who prey on passwords, legacy authentication and employee error. Corporate IT teams must address significant shared device authentication challenges, including difficult user experiences, shared passwords and expensive hardware tokens. These organizations are looking to move towards zero-trust architecture that mandates secure, strong authentication across all the applications. Therefore, the opportunity for helping organizations using shared devices advance their zero-trust security with secure and seamless biometric authentication is vast across various industries. For example, in healthcare, doctors, nurses, administrators, shared desktops, laptops, and mobile devices.Retail, hospitality and entertainment segments also deploy a large number of shared tablets and shared workstations that will require employees to utilize a form of strong authentication. Until now, the de facto authentication for these devices has involved deploying unwieldy and costly key cards and hardware tokens, which can easily be lost, shared or stolen. authID solves for shared device security across all industries with next-generation biometric authentication. Delivering a highly secure and streamlined user experience, we accelerate a zero-trust security framework. Now, with the proven case study on ABM Industries, we will leverage this success to secure more customers with shared device challenges. Turning to slide 11. Now, to our go-to-market efforts.In addition to the shared device opportunity, we see an expanded product market fit for our biometric identity verification and authentication solutions in FinServ, FinTech, healthcare, entertainment and the gig economy. These organizations are looking to authID for our fast, convenient, and highly accurate solutions that stop fraud and streamline onboarding, as well as providing strong authentication that protects against phishing and account takeover attacks, and reduces helpdesk costs due to the account and password reset request. Organizations should not have to compromise cyber security and identity assurance for frictionless user experience, which is why authID delivers both, and we will continue to focus on our mission to deliver the best solution on the market that eliminates authentication fraud, offers zero-trust protection, and provides the fastest and easiest user experience with the highest degree of accuracy.Turning to slide 12. So in June, we engaged The Pipeline Group, which was instrumental in helping me build a unicorn business in my previous role. Bringing their lead generation technology and strong talent in generating high-quality first call meetings, TPG continues to drive high-value conversations with high-value targets for our sales organization. Since June 20, the TPG team has performed over 40,000 outbound calls, held over 2,100 live conversations, and generated 77 meetings with high-value targets. We completed half of these meetings where we created nearly $2.4 million in new opportunities over 31 business days. Doing the math, if TPG continues to add opportunities at this rate over the next 12 months, we will be well on our way to realizing our target of $30 million in qualified sales pipeline.Moving to slide 13. We had a busy and successful second quarter. We enhanced our balance sheet; strengthened and added new features to our technology platform; and most importantly, we booked $239,000 in BARR in customer wins. Together, these efforts are helping us build momentum in our business, and I am confident that authID will continue to deliver based on this winning formula. First, our total adjustment market for integrated identity platforms is estimated to grow from $48 billion in 2023 to approximately $116 billion by 2027. We also continue to identify and expand a set of use cases with our prospects for our services to protect both the consumer and workforce applications. Second, authID has the right product with clear value over the competition.Our identity platform delivers speed, accuracy and the best user experience for the identity verification and authentication that is second to none. And third, we have the right team. Our new CFO will bring his proven experience in revenue optimization. Our new laser-focused sales leaders will generate new opportunities and book additional wins. And finally, our authID University program will ensure that we build a high-performance organization populated with experts who execute based on proven sales framework and a sales-first mindset. With confidence in this winning formula, we continue to be on track with our target to deliver customer wins totaling $3 million in BARR over the next 12 months. In summary, I am extremely pleased with our success in strengthening our finances, enhancing our technology, generating sales leads and wins, and developing a sales-centric culture.Once again, I want to thank all the investors for their continued faith in authID. We would now like to open the call to questions. I will turn the call back to Graham.Graham Arad : Well, thank you, Rhon. We'll now turn it back to the operator, who will explain again how to raise a question for those who have signed in and registered on the telephone line. Operator?Operator: Thank you. [Operator Instructions].Graham Arad : Thank you, operator. Whilst we are compiling the Q&A roster, Rhon, you've talked about all of the steps and achievements over the last quarter. What do you see as the next sort of major challenges and opportunities in the coming months through the rest of the year?Rhon Daguro: Well, the exciting thing for us is that we've been spending a lot of time building the foundation; getting the finances right, getting the people right, and then really understanding how to articulate this message to fit the use case, and that's what we've really been spending our time over the last four or five months. The challenge now over the next six to nine months is we need to execute on everything that we've been building on, really going after the customers, delivering this message to our customers, and do it as fast as possible. Really, that's going to be the focus over the next six to nine months.Graham Arad : Okay. Thank you. Operator, would you like to invite the first questioner, please?See also 20 Countries With Highest Rate of Economic Growth in 5 Years and 12 Best Places to Retire in Argentina.To continue reading the Q&A session, please click here.

Insider Monkey

authID Inc. (NASDAQ:AUID) Q2 2023 Earnings Call Transcript

https://finance.yahoo.com/news/authid-inc-nasdaq-auid-q2-130523215.html

03a783aa-d6e7-3cb1-9e41-56aa970de59d

AUMN

Value-focused investors are always on the hunt for stocks that are priced below their intrinsic value. One such stock that merits attention is Golden Minerals Co (AUMN). The stock, which is currently priced at 1.02, recorded a gain of 12.09% in a day and a 3-month decrease of 76.57%. The stock's fair valuation is $9.58, as indicated by its GF Value.Understanding GF ValueWarning! GuruFocus has detected 6 Warning Signs with AUMN. Click here to check it out. AUMN 30-Year Financial DataThe intrinsic value of AUMNThe GF Value represents the current intrinsic value of a stock derived from our exclusive method. The GF Value Line on our summary page gives an overview of the fair value that the stock should be traded at. It is calculated based on three factors:1. Historical multiples (PE Ratio, PS Ratio, PB Ratio and Price-to-Free-Cash-Flow) that the stock has traded at.2. GuruFocus adjustment factor based on the company's past returns and growth.3. Future estimates of the business performance.We believe the GF Value Line is the fair value that the stock should be traded at. The stock price will most likely fluctuate around the GF Value Line. If the stock price is significantly above the GF Value Line, it is overvalued and its future return is likely to be poor. On the other hand, if it is significantly below the GF Value Line, its future return will likely be higher.Golden Minerals Co (AUMN): A Smart Investment or a Value Trap? An In-Depth ExplorationHowever, investors need to consider a more in-depth analysis before making an investment decision. Despite its seemingly attractive valuation, certain risk factors associated with Golden Minerals Co should not be ignored. These risks are primarily reflected through its low Piotroski F-score of 2, Altman Z-score of -50.49, and a Beneish M-Score of 0.43 that exceeds -1.78, the threshold for potential earnings manipulation. These indicators suggest that Golden Minerals Co, despite its apparent undervaluation, might be a potential value trap. This complexity underlines the importance of thorough due diligence in investment decision-making.Story continuesDecoding the Piotroski F-score, Altman Z-score, and Beneish M-scoreThe Piotroski F-score, created by accounting professor Joseph Piotroski, is a tool used to assess the strength of a company's financial health. The score is based on nine criteria that fall into three categories: profitability, leverage/liquidity/ source of funds, and operating efficiency. The overall score ranges from 0 to 9, with higher scores indicating healthier financials. Golden Minerals Co's current Piotroski F-Score, however, falls in the lower end of this spectrum, indicating potential red flags for investors.Before delving into the details, let's understand what the Altman Z-score entails. Invented by New York University Professor Edward I. Altman in 1968, the Z-Score is a financial model that predicts the probability of a company entering bankruptcy within a two-year time frame. The Altman Z-Score combines five different financial ratios, each weighted to create a final score. A score below 1.8 suggests a high likelihood of financial distress, while a score above 3 indicates a low risk.Developed by Professor Messod Beneish, the Beneish M-Score is based on eight financial variables that reflect different aspects of a company's financial performance and position. These are Days Sales Outstanding (DSO), Gross Margin (GM), Total Long-term Assets Less Property, Plant and Equipment over Total Assets (TATA), change in Revenue (?REV), change in Depreciation and Amortization (?DA), change in Selling, General and Admin expenses (?SGA), change in Debt-to-Asset Ratio (?LVG), and Net Income Less Non-Operating Income and Cash Flow from Operations over Total Assets (?NOATA).Golden Minerals Co: A Comprehensive OverviewGolden Minerals Co is an exploration stage company engaged in the mining, construction, and exploration of precious metals and mineral properties. It owns and operates Velardena and Chicago precious metals mining properties and associated oxide and sulfide processing plants in the State of Durango, Mexico, the El Quevar exploration property in the province of Salta, Argentina, and a diversified portfolio of precious metals and other mineral exploration properties located in or near historical precious metals producing regions of Mexico. The company's business is structured into two divisions, Mexico operations, and Corporate Exploration and Other.Golden Minerals Co (AUMN): A Smart Investment or a Value Trap? An In-Depth ExplorationThis article first appeared on GuruFocus.

GuruFocus.com

Golden Minerals Co (AUMN): A Smart Investment or a Value Trap? An In-Depth Exploration

https://finance.yahoo.com/news/golden-minerals-co-aumn-smart-163648742.html

7c6a9cc3-d37c-378d-826d-b6e294028ca0

AUMN

In this article, we will take a look at the 11 best mining penny stocks to buy now. To see more such companies, go directly to 5 Best Mining Penny Stocks to Buy Now.Mining is one of those segments in the overall economy that continue to gain investors’ attention. Amid growing production and growth around the world, mining companies remain on everyone’s radar. Latest advancements in different facets of technological revolution keep on creating the demand for new metals and minerals. For example, the electric vehicle industry is one of the biggest catalysts for the mining industry.The EV boom is also causing many venture capitalists to pour money into mining-related startups. A latest Wall Street Journal report, citing data from PitchBook, said that mining-tech startups have raised a whopping $350 million this year through the second week of August. In 2022, when funding was drying up across the board amid recession risks, mining-tech startups managed to raise $748 million. The report, however, cited experts who believe mining technology startups are working on technologies related to EV batteries that could take years to take off or become successful.However, the sector is also one of the most volatile. A Bloomberg report shows that over the past few months S&P/ASX 200 Index, whose constituents include several mining companies, has shown extreme volatility. Some companies have gained a lot of value while others lost. For example, the report said that Liontown Resources Ltd. has surged this year after the company snubbed several takeover bids from Albemarle Corp. Liontown Resources shares have gained about 80% year to date through August 29.On the other hand, many miners face challenges at different mines and plants, causing their share prices to tank. For example, Lake Resources NL fell over 70% this year after the company announced a six-year delay at one of its projects.One of the most notable trends in the lithium mining sector is different mining stocks jumping to record levels as soon as companies announce new lithium discoveries. But in many cases these stock jumps are caused by market overreactions. Initially, investors usually don’t focus too much on the quality and size of lithium discoveries. The Bloomberg report cited Carrick Ryan, portfolio manager at Westbeck Capital Management, who said:Story continues“In a market like we’re in today where it’s red hot for lithium explorers, if the stock moves up a lot on a skinny discovery, you should be careful.”The mining industry is also subject to volatility amid massive macroeconomic fluctuations, commodity price changes, demand and supply dynamics and more. For example, Australian-based miner Newcrest, which has agreed to be acquired by Newmont in May, earlier this month declared an 11% decline in annual profits. Despite the fact that the company produced more gold and copper from its mines last fiscal year, its profits were dented due to weak copper prices, inflationary pressures and rising costs.A PwC report on the mining industry outlook for 2023 had highlighted how increasing costs and softening demand were expected to affect the mining industry:“We expect softening prices for many key mining commodities and, as a result, we forecast a 9% fall in revenue. Revenue from coal is expected to fall by at least 20%, and the commodity is unlikely to be the industry’s main revenue source next year, which could lead to a change in the composition of the Top 40. We expect the 2022 trend of rising costs to stabilize through 2023, as lower shipping and fuel costs offset some inflation pressures. Our outlook—higher costs and lower revenue—points towards a decrease inEBITDA margins, from 29% in 2022 to 28% in 2023, and towards negative net cash flow. Given the challenging economic conditions, we believe overall capital spending will also decline, though spending on critical minerals and decarbonisation should increase. Payment of dividends is still expected to be high, although down fromm2022 levels. To ensure longer-term resilience, the Top 40 should focus on responding tomevolving trends even as they temper spending. With continued free cash flow and strong balance sheets, these miners are well-positioned to take advantage of new opportunities.”Best Mining Penny Stocks to Buy NowPixabay/Public DomainMethodologyFor this article we used the Yahoo Finance’s stock screener to list down stocks from the precious metals & mining sector trading under $5 as of August 27. Out of these stocks we selected 11 stocks with the highest number of hedge fund investors. The stocks listed in this article are the best mining penny stocks to buy according to hedge funds. To gauge hedge fund sentiment on stocks we used Insider Monkey’s database of 910 hedge funds.Best Mining Penny Stocks to Buy Now11. Golden Minerals Company (NYSE:AUMN)Number of Hedge Fund Holders: 1Golden Minerals Company (NYSE:AUMN) is one of the mining stocks that are currently in the spotlight as the stock has gained about 17% over the past five days through August 28. Golden Minerals Company (NYSE:AUMN) recently announced that the NYSE accepted the company's business plan to regain compliance with the exchange's continued listing standards. Back in June Golden Minerals Company (NYSE:AUMN) had received a notice from the NYSE that it was not in compliance with a regulation which requires a listed company to have stockholders equity of at least $6 million when having sustained losses from continuing operations and/or net losses in its five most recent fiscal years.Just one hedge fund in Insider Monkey’s database of 910 hedge funds had stake in Golden Minerals Company (NYSE:AUMN) as of the end of the second quarter. Steven Boyd’s Armistice Capital had a $1.1 million stake in the company.10. New Pacific Metals Corp. (NYSE:NEWP)Number of Hedge Fund Holders: 4New Pacific Metals Corp. (NYSE:NEWP) explores mineral properties in Bolivia. The gold and silver mining company recently posted results for the June quarter. Net loss attributable to equity holders of New Pacific Metals Corp. (NYSE:NEWP) came in at $1.86 million or $0.01 per share, compared to a net loss of $2.34 million or $0.01 per share reported in the second quarter of 2023.9. Vox Royalty Corp. (NASDAQ:VOXR)Number of Hedge Fund Holders: 4Canadian mining royalty and streaming firm Vox Royalty Corp. (NASDAQ:VOXR) ranks 9th in our list of the top mining penny stocks to buy according to hedge funds. Earlier in August Vox Royalty Corp. (NASDAQ:VOXR) posted Q2 results. GAAP EPS in the quarter came in at $0, while revenue in the quarter jumped 27% year over year to $2.22 million. Earlier in August Vox Royalty Corp. (NASDAQ:VOXR) declared a quarterly dividend of CAD 0.011/share. Dividend yield came in at around 2%.A total of 4 hedge funds in Insider Monkey’s database had stakes in Vox Royalty Corp. (NASDAQ:VOXR) as of the end of the second quarter of 2023.8. Integra Resources Corp. (NYSE:ITRG)Number of Hedge Fund Holders: 4Integra Resources Corp. (NYSE:ITRG) explores for gold and silver deposits.As of the end of the second quarter of 2023, 4 hedge funds in Insider Monkey’s database of 943 funds were long Integra Resources Corp. (NYSE:ITRG). The biggest stakeholder of Integra Resources Corp. (NYSE:ITRG) during this period was Eric Sprott’s Sprott Asset Management. Over the past five days through August 28, Integra Resources Corp. (NYSE:ITRG) is up about 1.4%.7. Platinum Group Metals Ltd. (NYSE:PLG)Number of Hedge Fund Holders: 5Insider Monkey’s database of 910 hedge funds shows that 5 hedge funds had stakes in Platinum Group Metals Ltd. (NYSE:PLG) as of the end of the second quarter of 2023. In July Platinum Group Metals Ltd. (NYSE:PLG) posted fiscal Q3 results. GAAP EPS in the period came in at -$0.01 beating estimates by $0.01. Platinum Group Metals Ltd. (NYSE:PLG) said that its primary business objective is to advance the Waterberg Project to a development and construction decision.6. Metalla Royalty & Streaming Ltd. (NYSE:MTA)Number of Hedge Fund Holders: 6Over the past 12 months Metalla Royalty & Streaming Ltd. (NYSE:MTA) shares have gained about 4%. The Canadian precious metals royalty and streaming company is engaged in the management of precious metal royalties, streams, and related production-based interests in Canada, Australia, Argentina, Mexico, and the US.As of the end of the June quarter, 6 hedge funds in Insider Monkey’s database had stakes in Metalla Royalty & Streaming Ltd. (NYSE:MTA). The biggest stakeholder of Metalla Royalty & Streaming Ltd. (NYSE:MTA) was Murray Stahl’s Horizon Asset Management which owns a $1.7 million stake in the company.Click to continue reading and see 5 Best Mining Penny Stocks to Buy Now.Suggested articles:12 Stocks That Will Always Grow10 Technology Stocks with Insider Buying15 Most Shorted Stocks That Are Loved by AnalystsDisclosure: None. 11 Best Mining Penny Stocks to Buy Now is originally published on Insider Monkey.

Insider Monkey

11 Best Mining Penny Stocks to Buy Now

https://finance.yahoo.com/news/11-best-mining-penny-stocks-220634216.html

84dd5107-3f17-36d1-9837-1ef9de85c6b4

AUUD

BOULDER, CO, Aug. 25, 2023 (GLOBE NEWSWIRE) -- via NewMediaWire – Auddia Inc., (“Auddia” or the “Company”) (Nasdaq: AUUD, AUUDW), developer of a proprietary AI platform for audio and innovative technologies for podcasts that is reinventing how consumers engage with audio, announced today that it was not able to file its Quarterly Report for the quarter ended June 30, 2023 by the August 21, 2023 extended filing deadline established by the Securities and Exchange Commission.  The Company, therefore, is a late filer with respect to such report.The delay in the filing of the Company’s Quarterly Report relates principally to completion of the review process by the Company’s new independent accountant, CohnReznick LLP.The Company filed the Quarterly Report on August 24, 2023.About Auddia Inc.Auddia, through its proprietary AI platform for audio identification and classification and related technologies, is reinventing how consumers engage with AM/FM radio, podcasts, and other audio content. Auddia’s flagship audio superapp, called faidr, brings two industry firsts to the audio-streaming landscape: subscription-based, ad-free listening on any AM/FM radio station and podcasts with interactive digital feeds that support deeper stories and open untapped revenue streams to podcasters. faidr also delivers exclusive content and playlists, and showcases exciting new artists, hand-picked by curators and DJs. Both differentiated offerings address large and rapidly growing audiences with strong purchase intent. For more information, visit: www.auddia.comForward Looking StatementsThis press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 about the Company's current expectations about future results, performance, prospects and opportunities. Statements that are not historical facts, such as "anticipates," "believes" and "expects" or similar expressions, are forward-looking statements. These forward-looking statements are based on the current plans and expectations of management and are subject to a number of uncertainties and risks that could significantly affect the Company's current plans and expectations, as well as future results of operations and financial condition. These and other risks and uncertainties are discussed more fully in our filings with the Securities and Exchange Commission. Readers are encouraged to review the section titled "Risk Factors" in the Company's Annual Report on Form 10-K for the year ended December 31, 2022, as well as other disclosures contained in subsequent filings made with the Securities and Exchange Commission. Forward-looking statements contained in this announcement are made as of this date and the Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.Story continuesInvestor Contacts:Kirin M. SmithPCG Advisory, [email protected]

GlobeNewswire

Auddia Inc. Announces Filing of Delayed 10-Q Quarterly Report

https://finance.yahoo.com/news/auddia-inc-announces-filing-delayed-110000110.html

116a0d4d-5e67-3d38-aeaa-c0b74a2c5a38

AUUD

faidr 3.0 with new user interface is now available in app stores for both Apple and Android usersAchieves key milestone to accelerate direct-to-consumer marketing and reporting on full funnel metrics for faidr 3.0 for the first timeSubscription conversion rates for faidr 3.0 off the iOS free tier averaging 10% over the last three monthsNew AI model for automated commercial free podcast listening on faidr being prioritized with timeline for expected release to be announced end of Q3M&A strategy progressing with Target #1 expected to close in early Q4 adding 4.6 million mobile MAUs and over $2 million in high margin revenueBOULDER, CO, Sept. 06, 2023 (GLOBE NEWSWIRE) -- via NewMediaWire – Auddia Inc. (NASDAQ:AUUD) (NASDAQ:AUUDW) ("Auddia" or the "Company"), developer of a proprietary AI platform for audio and innovative technologies for podcasts that is reinventing how consumers engage with audio, announced today that it has achieved the key milestone of fully integrating podcasts, exclusive content in the form of Music Casts, exclusive playlists under the faidrRadio brand, and a new user interface across both iOS and Android. Referred to as faidr 3.0, this milestone positions the Company to accelerate direct-to-consumer advertising to grow the user base and report on full funnel metrics for faidr 3.0 for the first time upon filing the third quarter 10Q.Michael Lawless, CEO, stated, “The entire Auddia team has been aimed at building faidr 3.0 across both the iOS and Android platforms all year. This focus has led to a significant expansion of Music Cast exclusive content and a much-improved user interface that we expect will greatly increase the likelihood of meeting or exceeding our previously announced targets for full funnel metrics. We have also advanced our AI work aimed at adding an automated, consumer driven, commercial free podcast listening experience to faidr. This is another industry first listening experience being introduced by Auddia that we are very excited about and believe holds the potential to drive a viral adoption moment for faidr. Although some additional development remains, integrating this capability into faidr has now been prioritized and we will announce the expected release of ad-free podcast listening with the filing of our next 10Q.”Story continuesChief Marketing Officer, Theo Romeo, added, “Completion of faidr 3.0 is super exciting for the team. We focused our marketing spend in Q2 to gather preliminary subscription conversion insights on the impact of 3.0 improvements in iOS, which was released in mid-June. We continue to see subscription conversion rates averaging 10% over the last three months. With the release of faidr 3.0 on Android, we will be increasing our ad spend in Q3 and reporting on full funnel metrics across both iOS and Android in mid-November.”With the release of faidr 3.0, the Company believes it has the best free streaming AM/FM listening platform in the market as faidr’s free tier is the only streaming platform that allows manual skipping of commercials and replicates the full radio dial with all stations. With market reports showing over 76 million monthly AM/FM streaming listeners in the U.S. with streaming representing the fastest growing segment of AM/FM listening, the Company believes faidr 3.0 is well positioned to gain market share on the free tier. As the only streaming platform able to leverage a proprietary, internally built AI to provide a commercial free premium listening experience on every station and the growing library of exclusive Music Cast content and faidrRadio playlists available on the paid tier, the Company believes there is a large opportunity for subscription conversions off the free tier.M&A UpdateJeff Thramann, Executive Chairman, stated, “We are making steady progress with our M&A strategy and plan to stagger the two acquisitions currently under LOI. Binding purchase agreements for both targets are currently in active negotiation. Subject to favorable financing, we are aiming to close our first target in early Q4, which represents the acquisition of over $2 million in high margin TTM revenue and 4.6 million mobile MAUs listening to AM/FM radio on a free tier. Almost 650 thousand of these listeners are English & Spanish speaking and will be candidates for subscription conversion in Q1 of 2024. The acquisition will expand the number of stations on faidr’s free tier from just over 5,000 in the United States to over 50,000 internationally. Although we have a very attractive opportunity in front of us to drive de novo users through DTC advertising at favorable cost-per-install rates, when you apply ad spend to our targeted metrics, the cost to acquire a user on our free tier is $14.34. At our targeted subscription conversion rate of 12%, this provides a compelling ROI on ad spend. The power of our acquisition strategy is that at the currently proposed purchase price, our cost to acquire a user on the free tier goes all the way down to $2.67. This makes it crystal clear why we are aggressively pursuing this strategy and why we believe it completely enhances the trajectory of the company.”Android and iOS users can visit  faidr - Apps on Google Play and faidr on the App Store (apple.com) respectively to download the faidr 3.0 Superapp.Visit Auddia - Product Faidr for more information about faidr 3.0.About Auddia Inc.Auddia, through its proprietary AI platform for audio identification and classification and related technologies, is reinventing how consumers engage with AM/FM radio, podcasts, and other audio content. Auddia’s flagship audio superapp, called faidr, brings two industry firsts to the audio-streaming landscape: subscription-based, ad-free listening on any AM/FM radio station and ad-free podcast listening with the addition of interactive digital feeds that support deeper stories and open untapped revenue streams to podcasters. faidr also delivers exclusive content and playlists, and showcases exciting new artists, hand-picked by curators and DJs. Both differentiated offerings address large and rapidly growing audiences with strong purchase intent. For more information, visit: www.auddia.comForward-Looking StatementsThis press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 about the Company's current expectations about future results, performance, prospects and opportunities. Statements that are not historical facts, such as "anticipates," "believes" and "expects" or similar expressions, are forward-looking statements. These forward-looking statements are based on the current plans and expectations of management and are subject to a number of uncertainties and risks that could significantly affect the Company's current plans and expectations, as well as future results of operations and financial condition. These and other risks and uncertainties are discussed more fully in our filings with the Securities and Exchange Commission. Readers are encouraged to review the section titled "Risk Factors" in the Company's Annual Report on Form 10-K for the year ended December 31, 2022, as well as other disclosures contained in the Annual Report and subsequent filings made with the Securities and Exchange Commission. Forward-looking statements contained in this announcement are made as of this date and the Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.Investor Relations:Kirin Smith, PresidentPCG Advisory, [email protected]

GlobeNewswire

Auddia Announces Completion of faidr 3.0 and Provides M&A Update

https://finance.yahoo.com/news/auddia-announces-completion-faidr-3-120000158.html

bf337cb0-7c30-3f0b-a485-3302d91ae4f6

AVB

ARLINGTON, Va., September 06, 2023--(BUSINESS WIRE)--AVALONBAY COMMUNITIES, INC. (NYSE: AVB) (the "Company") announced today that Same Store Residential rental revenue for the two months ended August 31, 2023, increased 5.3% over the prior year period. This is approximately 40 basis points above what the Company's expectation was for Same Store Residential rental revenue growth for this two-month period when the Company published its updated outlook for full year 2023 Same Store Residential rental revenue growth on July 31, 2023.The Company also provided the following Same Store Residential operating information:Physical Occupancy20232023JuneJulyAugustTotal95.5%95.2%95.6%Like-Term Effective Rent Change(1)20232023JuneJulyAugustNew England5.3%4.1%4.0%Metro NY / NJ6.3%5.2%4.7%Mid-Atlantic5.4%5.2%3.6%Southeast FL2.4%0.9%0.2%Denver, CO5.1%2.5%2.3%Pacific NW1.3%(0.3%)(0.8%)Northern California3.1%2.3%0.3%Southern California5.3%4.2%3.0%Other Expansion Regions3.8%0.6%(1.4%)Total4.9%3.9%3.0%East Coast5.5%4.6%4.0%West Coast3.9%2.7%1.6%Total4.9%3.9%3.0%Renewal Offers for September and October 2023 were delivered to residents at an average increase in the mid-5% range over the existing lease.(1)New Move-In Like-Term Effective Rent Change was 3.9%, 2.7%, and 1.8% for June, July, and August 2023, respectively. Renewal Like-Term Effective Rent Change was 5.7%, 4.9%, and 4.2% for June, July, and August 2023, respectively.DefinitionsLike-Term Effective Rent Change represents the percentage change in effective rent between two leases of the same lease term category for the same apartment. The Company defines effective rent as the contractual rent for an apartment less amortized concessions and discounts. Like-Term Effective Rent Change is weighted based on the number of leases meeting the criteria for new move-in and renewal like-term effective rent change. New Move-In Like-Term Effective Rent Change is the change in effective rent between the contractual rent for a resident who moves out of an apartment, and the contractual rent for a resident who moves into the same apartment with the same lease term category. Renewal Like-Term Effective Rent Change is the change in effective rent between two consecutive leases of the same lease term category for the same resident occupying the same apartment. Like-term effective rent change as presented excludes any third-party managed communities.Story continuesMarket Rents as reported by the Company are based on the current market rates set by the Company based on its experience in renting apartments and publicly available market data. Market Rents for a period are based on the average Market Rents during that period and do not reflect any impact for cash concessions.Renewal Offers generally represent initial offers made to market rate apartments with expiring leases for which the residents have not provided notice of their intent to vacate.Residential represents results attributable to the Company's apartment rental operations, including parking and other ancillary Residential revenue.Same Store is composed of consolidated communities where a comparison of operating results from the prior year to the current year is meaningful as these communities were owned and had Stabilized Operations, as defined below, as of the beginning of the respective prior year period. Therefore, for 2023 operating results, Same Store is composed of consolidated communities that have Stabilized Operations as of January 1, 2022, are not conducting or are not probable to conduct substantial redevelopment activities and are not held for sale or probable for disposition within the current year.Stabilized Operations is defined as the earlier of (i) attainment of 90% physical occupancy or (ii) the one-year anniversary of completion of development.About AvalonBay Communities, Inc.As of June 30, 2023, the Company owned or held a direct or indirect ownership interest in 294 apartment communities containing 88,659 apartment homes in 12 states and the District of Columbia, of which 18 communities were under development and one community was under redevelopment. The Company is an equity REIT in the business of developing, redeveloping, acquiring and managing apartment communities in leading metropolitan areas in New England, the New York/New Jersey Metro area, the Mid-Atlantic, the Pacific Northwest, and Northern and Southern California, as well as in the Company's expansion regions of Raleigh-Durham and Charlotte, North Carolina, Southeast Florida, Dallas and Austin, Texas, and Denver, Colorado. More information may be found on the Company’s website at https://www.avalonbay.com.Copyright © 2023 AvalonBay Communities, Inc. All Rights ReservedView source version on businesswire.com: https://www.businesswire.com/news/home/20230906758820/en/ContactsJason ReilleyVice PresidentInvestor RelationsAvalonBay Communities, Inc.703-317-4681

Business Wire

AvalonBay Communities, Inc. Provides Third Quarter 2023 Operating Update

https://finance.yahoo.com/news/avalonbay-communities-inc-provides-third-201500118.html

4e2eb18d-7f7e-3244-bfc3-1cd771f8f4c6

AVB

The U.S. apartment rental market is currently experiencing a seismic shift. For the first time in decades, the growth in apartment rents is leveling rapidly, and there's even the possibility of negative growth on the horizon, per a recent RealPage report.What is intriguing is that this development is taking place at a time when demand is healthy and jobs are continued to be produced by the economy. The culprit seems to be the unprecedented surge in apartment construction, which is reshaping the dynamics of the rental market and tilting the balance of power toward renters.In August, on a year-over-year basis, same-store effective asking rents for new leases increased by a mere 0.28%, and this figure is poised to potentially slip into negative territory by September. Interestingly, while rent growth takes a breather, the demand for rental properties remains healthy, with occupancy rates stabilizing in the mid-94% range since January, aligning closely with long-term norms.This is happening because, with the influx of new supply into the market, renters have a plethora of choices, resulting in increased tenant turnover. However, to stay competitive and maintain occupancy rates and cash flow, property operators are giving up on prices.AvalonBay Communities AVB serves as a prime example of a company navigating this changing landscape successfully. Per its recent operating update, this residential REIT reported a 5.3% increase in same-store residential rental revenues for the two months ended Aug 31, 2023 compared with the prior-year period. This is roughly 40 basis points higher than the company’s most recent expectation on Jul 31, 2023. This demonstrates its adaptability in the face of market shifts.Physical occupancy for its same-store residential communities of 95.6% in August increased from 95.2% in the prior month. AvalonBay had recorded physical occupancy of 95.5% in the second quarter. However, the like-term effective rent change for same-store residential communities dropped to 3% in August from 3.9% in July. The figure also marked a decline from 4.9% in the second quarter.Equity Residential EQR, another prominent player in the industry, also seems to have weathered the changes with poise. The REIT concluded the leasing season with healthy demand and pricing for its apartment units. Also, the company said that its same-store revenue growth is on track with the guidance it issued during the second-quarter earnings release.Consistent with seasonal trends, rents peaked in early August, and the company anticipates rent moderation for the remainder of the year. Despite a 3.5% increase in same-store residential blended rates for the third quarter through Aug 31 compared to a 4.3% increase in the second quarter EQR reported an uptick in physical occupancy. Same-store physical occupancy increased to 96% in the same period from 95.9% in the prior quarter.Story continuesWhat Lies Ahead?Supply volumes are expected to remain elevated through 2024, and this is likely to put pressure on rents. However, residential REITs with well-positioned properties in strategic markets are expected to navigate through this environment efficiently, with demand remaining healthy. Moreover, amid financing issues and other challenges, new construction starts have tapered off in 2023. This suggests a significant reduction in supply by the latter half of 2025 and into 2026.In the short term, as supply remains elevated, renters may find themselves in a favorable position. However, market dynamics can change rapidly, and investors should keep a close eye on the evolving landscape to make informed decisions in this shifting market.Currently, AvalonBay and Equity Residential each carry a Zacks Rank of 3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free reportAvalonBay Communities, Inc. (AVB) : Free Stock Analysis ReportEquity Residential (EQR) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

Apartment Rents Level Despite Healthy Demand & Supply Surge

https://finance.yahoo.com/news/apartment-rents-level-despite-healthy-151300374.html

ef2df66c-9295-3610-9f6c-7e9a4ce9b12e

AVGO

No game-changing innovation is garnering more attention on Wall Street this year than artificial intelligence (AI). The innovative potential and big-dollar figures behind AI have attracted plenty of attention from Wall Street's most successful money managers -- and that includes billionaire CEO Warren Buffett of Berkshire Hathaway (NYSE: BRK.A)(NYSE: BRK.B), along with his investment team. Nearly half of Berkshire's $365 billion portfolio is invested in three AI stocks.Continue reading

Motley Fool

Warren Buffett's $690 Million Secret Portfolio Is Invested in 5 Artificial Intelligence (AI) Stocks

https://finance.yahoo.com/m/7155d61f-5932-3af6-a77f-bf1f999ed054/warren-buffett-s-690-million.html

7155d61f-5932-3af6-a77f-bf1f999ed054

AVGO

On the surface, chip giant Broadcom (NASDAQ: AVGO) seems to have just turned in a lackluster quarterly performance as a new era of artificial intelligence (AI) supercharges prospects for some semiconductor companies. CEO Hock Tan and company reported decelerating revenue growth in the fiscal third quarter of 2023 (the three months ended in July) compared to earlier this year. Is Broadcom stock a buy right now?Continue reading

Motley Fool

Broadcom Reports Slowing Growth as It Awaits Final VMware Acquisition Approval -- Time to Buy the Stock?

https://finance.yahoo.com/m/fb68f658-b818-3516-90b0-ef381d032636/broadcom-reports-slowing.html

fb68f658-b818-3516-90b0-ef381d032636

AVNS

Today is shaping up negative for Avanos Medical, Inc. (NYSE:AVNS) shareholders, with the analysts delivering a substantial negative revision to this year's forecasts. Revenue and earnings per share (EPS) forecasts were both revised downwards, with analysts seeing grey clouds on the horizon.Following the latest downgrade, the current consensus, from the four analysts covering Avanos Medical, is for revenues of US$682m in 2023, which would reflect a not inconsiderable 17% reduction in Avanos Medical's sales over the past 12 months. Following this this downgrade, earnings are now expected to tip over into loss-making territory, with the analysts forecasting losses of US$0.91 per share in 2023. Previously, the analysts had been modelling revenues of US$763m and earnings per share (EPS) of US$1.08 in 2023. So we can see that the consensus has become notably more bearish on Avanos Medical's outlook with these numbers, making a substantial drop in this year's revenue estimates. Furthermore, they expect the business to be loss-making this year, compared to their previous forecasts of a profit. Check out our latest analysis for Avanos Medical earnings-and-revenue-growthTaking a look at the bigger picture now, one of the ways we can understand these forecasts is to see how they compare to both past performance and industry growth estimates. We would highlight that sales are expected to reverse, with a forecast 31% annualised revenue decline to the end of 2023. That is a notable change from historical growth of 5.0% over the last five years. Compare this with our data, which suggests that other companies in the same industry are, in aggregate, expected to see their revenue grow 7.8% per year. So although its revenues are forecast to shrink, this cloud does not come with a silver lining - Avanos Medical is expected to lag the wider industry.The Bottom LineThe most important thing to take away is that analysts are expecting Avanos Medical to become unprofitable this year. Regrettably, they also downgraded their revenue estimates, and the latest forecasts imply the business will grow sales slower than the wider market. Given the serious cut to this year's outlook, it's clear that analysts have turned more bearish on Avanos Medical, and we wouldn't blame shareholders for feeling a little more cautious themselves.Story continuesWith that said, the long-term trajectory of the company's earnings is a lot more important than next year. At Simply Wall St, we have a full range of analyst estimates for Avanos Medical going out to 2025, and you can see them free on our platform here.Another way to search for interesting companies that could be reaching an inflection point is to track whether management are buying or selling, with our free list of growing companies that insiders are buying.Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

Simply Wall St.

Bearish: Analysts Just Cut Their Avanos Medical, Inc. (NYSE:AVNS) Revenue and EPS estimates

https://finance.yahoo.com/news/bearish-analysts-just-cut-avanos-100755745.html

fd9ad1ce-3837-3b6b-a452-e05e40231509

AVNS

Avanos Medical, Inc. (NYSE:AVNS) Q2 2023 Earnings Call Transcript August 9, 2023Avanos Medical, Inc. misses on earnings expectations. Reported EPS is $0.24 EPS, expectations were $0.34.Operator: Good morning, everyone, and welcome to the Avanos Second Quarter 2023 Earnings Conference Call. All participants are in a listen-only mode. [Operator Instructions] After today’s prepared remarks there will be opportunity to ask questions. [Operator Instruction] Please Note, today's call is being recorded. At this time, I'd like to hand the floor over to Avanos CEO, Joe Woody.Joe Woody: Good morning, everyone. This is Joe Woody. We've asked the New York Stock Exchange, and they agreed to halt our trading as our results were inaccurately reported by one news outlet and possibly more. Our total results inclusive of respiratory health were $199.8 million in revenue and we delivered $0.37 of EPS. Throughout the day today, we're going to work with the various agencies and news outlets to correct the information. Now I'm going to turn the call over to Scott Galovan to begin our prepared remarks. Thank you.Scott Galovan: Good morning, everyone, and thanks for joining us. It's my pleasure to welcome you to 2023 second quarter earnings conference call. Presenting today will be Joe Woody, CEO; and Michael Greiner, Senior Vice President, CFO and Chief Transformation Officer. Joe will review our second quarter and expectations for the remainder of 2023 as well as provide further insights around the strategy we laid out at our Investor Day in June. Mike will provide additional detail regarding these topics and provide an update of our 2023 planning assumptions given our respiratory health business discontinued operations. We'll finish the call with Q&A. A presentation for today's call is available on the Investors section of our website, avanos.com.As a reminder, our comments today contain forward-looking statements related to the company, our expected performance, current economic conditions and our industry. No assurance can be given as to future financial results. Actual results could differ materially from those in the forward-looking statements. For more information about forward-looking statements and the risk factors that could influence future results, please see today's press release and risk factors described in our filings with the SEC. Additionally, we will be referring to adjusted results and outlook. The press release has information on these adjustments and reconciliations to comparable GAAP financial measures. Now I'll turn the call over to Joe.Story continuesJoe Woody: Thanks, Scott. Good morning, everyone, and thank you for joining us to review our operational and financial results for the second quarter of 2023. We are pleased with our second quarter. We noted in our year-end earnings call and reiterated at our Investor Day in June, our quarterly results for 2023 would be uneven given the timing uncertainties associated with our transformation plan, which included some of the transactions we announced just prior to our Investor Day. The demand for our products remain strong, and although supply chain disruptions have lessened, we continue to experience ongoing product supply challenges and the effects of inflation throughout our supply chain. Coming into the year, we anticipated that 2023 will continue to present supply chain headwinds and pockets of product availability challenges, but that many of these headwinds would ease as we reached the back half of the year.We still believe this to be the case with our anticipated year-end back order levels to be around $3 million, down from over $10 million at the beginning of the year. As always, our primary focus is on getting patients back to the things that matter as we meet the needs of our customers. For the quarter, we achieved sales of $169 million from continuing operations or down approximately 1% compared to last year. Excluding both the negative impact of foreign exchange and the $5 million impact related to our previously announced decision to eliminate revenue that was not meeting our returns criteria, organic growth was favorable 2.6% from quarter. We also generated $0.24 of adjusted diluted earnings per share and almost $23 million of adjusted EBITDA from continuing operations during the quarter.While our adjusted gross margin was almost 60% and our SG&A as a percentage of revenue was 45.1%. Actual sales for the quarter, inclusive of our respiratory health business was $200 million or 2.5% growth. Also excluding the adjusted revenue items I just referenced. SG&A as a percentage of revenue was 40%, supporting an adjusted EBITDA margin of almost 16% for the quarter. Now I'll spend the next few minutes discussing our results at the product category level. On a constant currency basis, our Digestive Health portfolio grew almost 17% bolstered by our med product line, which posted another strong quarter versus the prior year as we continue to take advantage of the demand for NFI conversions in North America. Our legacy intra-feeding product line grew double digits globally, primarily driven by the continued expansion of our U.S. CORTRAK standard of care offering.As noted during Investor Day, we continue to deliver above-market growth and leadership in our core digestive health markets and are poised to sustain this momentum through innovations that we plan to launch over the next 12 months. Expansion into high potential global markets and actual M&A targets in large, attractive adjacencies. Turning to our pain management and recovery portfolio. Actual reported sales were down close to 11% for the quarter, with soft results across our interventional pain, game ready and 5-shot HA product categories each of which were down at least 5% versus the prior year. Separately, our surgical pain pump business was flat for the quarter, excluding the negative impact of foreign exchange and low growth, low-margin products we are no longer selling in this category.As I shared earlier, we continue to experience supply headwinds within these businesses, although we expect these headwinds to ease during the second half of this year. Alleviating these supply chain challenges is critical to supporting our pain management and recovery portfolio sales lift in the second half of the year. Finally, our HA portfolio experienced a weaker-than-expected first half. However, this softness was primarily concentrated in our 5-shot or GenVisc products. 5-shot market has specific pricing and competitive dynamics that are not as prevalent within the 3-shot market. TriVisc, our 3-shot offering continues to align with our overarching orthopedic call point strategy and is largely meeting our internal performance expectations.We expect volatility will continue to be a factor in both of these HA markets for the next several quarters as we face strong 2022 comparables and continue to experience the related swings from entering the ASP reporting environment in Q3 2022. Despite this volatility, we believe we have the right strategies in place to capitalize on our HA opportunities. Our pain management and recovery business results have not met our expectations over the last year. However, we are confident in our new strategy outlined during Investor Day. This strategy connects our pain brands across the patient life cycle and sets the stage for sustainable mid-single-digit growth as we enter 2024 and with gross margins exceeding 60%. Our investments in the pain management and recovery business will be very selective over the short to midterm as we focus on securing consistent organic financial results.Now moving to an update on our 2023 priorities and transformation efforts, which includes some of the initiatives that I just described. As we originally outlined in the beginning of the year and further highlighted in June during Investor Day, we have 4 key priorities for the next 3 years that will optimize our go-to-market opportunities and meaningfully enhance our financial profile. These priorities include strategically and commercially optimizing our organization, transforming our portfolio to focus on categories where we have attractive margin profiles and the right to win, taking additional cost management measures to enhance operating profitability and continuing our path of efficient capital allocation to meaningfully improve our ROIC.Albina Glisic/Shutterstock.comWe continue to execute well against these priorities as evidenced by our recent divestiture and acquisition activity, implementation of our new go-to-market strategy for our pain management and recovery business, margin improvement additional portfolio optimization decisions and delivery on our transformation program expense savings. In addition, our Board has recently approved a $25 million share repurchase program. This will not impact our ability to continue to execute our tuck-in acquisition strategy, but rather provides us flexibility to allocate capital towards repurchasing shares that we believe are meaningfully undervalued versus our internally calculated intrinsic value. Finally, I'd like to thank everyone who participated in our Investor Day on June 20 and the subsequent feedback we received from many of you.Now I'll turn the call over to Michael, who continues to lead these efforts in his expanded role as Chief Transformation Officer and will further discuss our second quarter financial results.Michael Greiner: Thanks, Joe. Before providing color on our discontinued operations reporting related to the sale of our Respiratory Health business, I'll first provide additional color and detail around our consolidated second quarter results. Total reported sales for the second quarter on an actual basis was $199.8 million, an increase of 2.5%, excluding the negative impact of foreign exchange, and the impact of low margin and low growth products we have ceased selling. From a continuing operations standpoint, net sales were $169.4 million. Adjusted gross margins were 59.9% and adjusted net income for the quarter totaled $11 million, translating to $0.24 of adjusted diluted earnings per share. Adjusted EBITDA for the quarter was $23 million, in line with prior year.Separately, we ended the quarter with $82 million of cash on hand and a leverage ratio of less than 1. Looking at our total results, including respiratory health, gross margin for the quarter was 56.7%, and or 270 basis points lower than prior year, primarily driven by the unfavorable impact of the Mexican peso as well as unfavorable product mix impact, mostly related to softness in our HA portfolio. Sequentially, gross margin improved by 30 basis points. Separately, SG&A as a percentage of revenue improved by 60 basis points versus the prior year and 160 basis points sequentially, primarily related to our cost savings efforts to streamline the organization and reduce our external spend profile. Adjusted diluted earnings per share were $0.37 and adjusted EBITDA totaled $31.8 million or 15.9%.Now focusing on our continuing operations results. Adjusted gross margin for the quarter was 59.9% and which reflects the benefits of our portfolio optimization decisions. SG&A as a percentage of revenue was 45.1%, an improvement of 100 basis points versus the prior year and a sequential improvement of 280 basis points. We anticipate SG&A as a percentage of revenue to be approximately 43% to 44% for the full year from a continuing operation standpoint with substantial improvement in 2024 ultimately leading to our 2025 goal between 38% to 39%. Adjusted diluted earnings per share were $0.24 versus $0.26 a year ago with adjusted EBITDA margin of 13.5% compared to 13.4% in 2022. For the first 6 months of 2023, the impact of discontinued operations totaled $19 million of EBITDA reduction.We anticipate the full year impact to be approximately $40 million which also is directionally representative of the annual stranded cost impact for the RH divestiture. These stranded costs include allocations from shared service functions, shipping and freight synergies and loss of scale in our international operations, among other fixed costs. Through 2024, we will offset a portion of these stranded costs via our transition services agreements with Air Life. Additionally, we are accelerating and expanding our existing cost reduction program to mitigate the majority of the remaining stranded costs, expecting approximately $30 million of incremental cost reduction by the end of 2025. We remain estimated $10 million to $15 million of go-forward dissynergies.Future M&A, of course, would enable additional stranded cost absorption. As a result of the Respiratory Health divestiture, which we anticipate will close early in the fourth quarter, we expect adjusted diluted EPS between $1.05 and $1.15 for the year, with gross margins around 60% and adjusted EBITDA margins of approximately 15%. Including the current year impact of the approximately $17 million annualized impact of product portfolio rationalization that we previously discussed. Company anticipates comparable organic revenue growth to be low single digits for the year. As previously communicated, the cost management aspects of our transformation program will total between $45 million and $55 million of gross savings by 2025. We now anticipate approximately $20 million of those savings in 2023, with the majority of the remainder to be executed in 2024.These savings do not contemplate the elimination of the stranded cost that I just described, which will be addressed separately. Our preliminary view for 2024 anticipates that we will deliver mid-single-digit revenue growth across our portfolio with adjusted gross margins of approximately 60%. Separately, we expect to reduce SG&A as a percentage of sales to 40% to 42% as a result of our cost takeout efforts and anticipate generating adjusted EBITDA of between $120 million and $140 million. These ranges will be negatively or positively impacted by our ability to accelerate our pain growth story and our cost management efforts. With regards to free cash flow, we now anticipate annual free cash flow of approximately $60 million as a result of higher interest and tax payments and weaker-than-anticipated performance in our pain management and recovery portfolio.This estimate also excludes onetime restructuring cost for this year. We remain confident in our ability to deliver approximately $100 million of free cash flow for 2025 and this assumes $25 million in tax payments, $20 million in capital expenditures and $15 million in interest payments. In closing, we will continue to execute on each of our transformation priorities and have a laser focus on both the digestive health and pain management and recovery business strategies. We believe that execution of these portfolio strategies, combined with our other transformation priorities will support delivering mid-single-digit organic revenue growth, gross margins exceeding 60% and adjusted EBITDA margins greater than 20% and free cash flow generation of approximately $100 million that I just shared.Finally, we will remain prudent stewards of our balance sheet, pursuing margin accretive tuck-in acquisitions and opportunistic share repurchases. Operator, please open the line for questions.See also 25 Best For-Profit Hospitals in the US and 12 Easiest Programming Languages for Kids.To continue reading the Q&A session, please click here.

Insider Monkey

Avanos Medical, Inc. (NYSE:AVNS) Q2 2023 Earnings Call Transcript

https://finance.yahoo.com/news/avanos-medical-inc-nyse-avns-145005033.html

c63917c8-e450-3bb0-9285-342dc500b5f0

AVO

In this article, we discuss 11 best vegan stocks to buy. If you want to skip our detailed discussion on the vegan industry, head directly to 5 Best Vegan Stocks to Buy Now.Reuters noted that worries about climate change, animal welfare, and the desire for healthier eating habits are leading more people to adopt veganism. Similar to the low-carb trend from the early 2000s, businesses are working hard to stay aligned with the evolving preferences of consumers. Veganism has transitioned from being a preference of a small group to becoming more widely accepted by the general public. Influential figures like Joaquin Phoenix and Ellen DeGeneres have advocated for this lifestyle, leading major corporations to take notice. In 2019, McDonald's Corporation (NYSE:MCD) introduced a vegetarian happy meal alongside its selection of burgers and chicken, and Unilever PLC (NYSE:UL) acquired The Vegetarian Butcher, a company focused on meat-free foods. Consumers are showing interest. British bakery Greggs, known for its sandwiches and sweet treats commonly available on many main streets, generated a lot of online attention when it introduced vegan-friendly sausage rolls for sale. Veganism seems to be here for the long run. It is not just a diet, it is a way of living that is focused on ethics – protecting animals and avoiding farming practices that harm the environment by producing greenhouse gasses and using too much water.As veganism becomes more popular globally, there is a rising expectation for employers to adapt and create a more inclusive workplace, as reported by CNBC. A U.K. charity, The Vegan Society, suggested measures like having special shelves for vegan food in office fridges and using color-coded equipment along with separate spaces for food preparation. The charity reported that the number of vegans in the U.K. increased from 2014 to 2019, going up from 150,000 to 600,000 people. The shift towards plant-based diets prompted The Vegan Society to provide guidance for employers on creating a more inclusive workplace for vegan staff. The suggestions included distributing a dietary requirements form ahead of catered events, allowing vegans to skip corporate gatherings involving animal-related activities like horse racing or animal product-based events, among others. This was influenced by changes in the U.K. anti-discrimination law, now safeguarding "ethical veganism", which includes people who follow a plant-based diet and avoid products connected to animals through use or testing. Matt Turner, spokesperson for The Vegan Society, mentioned that the legal safeguards now in place for ethical vegans in the U.K. are something that has been needed for quite a while. He stated:Story continues“As momentum in the U.K. continues to grow, it’s imperative that employers ensure that the ever-increasing number of ethical vegans are protected and catered for in the workplace.”Eric Brent, the CEO of HappyCow, an online directory for vegan and vegetarian restaurants based in California, expressed his belief that similar legal protections should extend to vegans in the United States.According to a report published by Market Research Future, the worldwide market for vegan food was valued at around $24.2 billion in 2022. Predictions suggest that this market will grow from about $27.39 billion in 2023 to approximately $73.86 billion by 2032. This growth is expected to happen at a compound annual growth rate (CAGR) of 16.26% between 2023 and 2032. The main factors pushing this market's growth include more people recognizing the advantages of a vegan diet and changes in consumer preferences. More and more people are discovering the health advantages of plant-based foods, which is boosting the vegan food industry. Choosing plant-based products can lead to reduced risks of heart disease, stroke, and early death. The market is expanding in several countries, largely due to people recognizing the benefits of adopting a vegan diet. Young individuals worldwide are showing a growing interest in vegan products. Vegan foods are available as tastier and healthier replacements for meat. They are typically made from ingredients like wheat and soy, while dairy-free products use soy, rice, coconut, and almond. As a result, these factors are driving the revenue of the vegan food market. A greater desire for non-dairy products and alternatives to animal-based foods would further encourage the adoption of vegan diets. Companies are working to make new vegan products by improving their production methods and using better technology. Even startups are joining in, creating and selling their own vegan products. This is making the market more diverse and competitive. Based on Google Trends data from 2004 to 2022, the countries most interested in veganism include the United Kingdom, Australia, New Zealand, Israel, and Austria.Investors aiming to diversify their portfolios and tap into the rising interest in the vegan industry can check out stocks like Olaplex Holdings, Inc. (NASDAQ:OLPX), Tyson Foods, Inc. (NYSE:TSN), and e.l.f. Beauty, Inc. (NYSE:ELF).Best Vegan Stocks to Buy NowNejron Photo/Shutterstock.comOur MethodologyWe selected the following vegan stocks based on hedge fund sentiment toward each stock. We have assessed the hedge fund sentiment from Insider Monkey’s database of 910 elite hedge funds tracked as of the end of the second quarter of 2023. The list is arranged in ascending order of the number of hedge fund investors in each firm.Best Vegan Stocks to Buy Now11. Farmmi, Inc. (NASDAQ:FAMI)Number of Hedge Fund Holders: 1Farmmi, Inc. (NASDAQ:FAMI) is engaged in the processing and sale of agricultural products in China, the United States, Japan, Canada, Europe, Korea, and the Middle East. The company's product range includes shiitake and Mu Er mushrooms, along with other edible fungi. Additionally, the company operates Farmmi Jicai, an online store for the sale of edible fungi products. These products cater to a range of customers including restaurants, cafeterias, local specialty stores, and distribution networks. On July 19, Farmmi, Inc. (NASDAQ:FAMI) announced the closing of an $8 million private placement of shares. The deal comprises the sale of 21.1 million shares to buyers, priced at $0.38 per share.According to Insider Monkey’s second quarter database, 1 hedge fund was bullish on Farmmi, Inc. (NASDAQ:FAMI), same as the previous quarter. Jim Simons’ Renaissance Technologies held 131,183 shares of the company worth $54,000.In addition to Olaplex Holdings, Inc. (NASDAQ:OLPX), Tyson Foods, Inc. (NYSE:TSN), and e.l.f. Beauty, Inc. (NYSE:ELF), Farmmi, Inc. (NASDAQ:FAMI) is one of the best vegan stocks to buy. 10. Laird Superfood, Inc. (NYSE:LSF)Number of Hedge Fund Holders: 3Laird Superfood, Inc. (NYSE:LSF) produces and sells plant-based, wholesome, and functional food products in the United States. It falls into the category of best vegan stocks. The company’s product range includes powdered and liquid coffee creamers, supplements that enhance hydration and beverages, supplements featuring performance-boosting mushrooms, harvest snacks, and various other food items. These products are accessible through the company's own online platforms like lairdsuperfood.com and pickybars.com, as well as through external online channels. On August 9, Laird Superfood, Inc. (NYSE:LSF) announced a Q2 non-GAAP EPS of -$0.38, outperforming estimates by $0.05. However, its revenue came in at $7.7 million, missing market expectations by $0.88 million.According to Insider Monkey’s second quarter database, 3 hedge funds were bullish on Laird Superfood, Inc. (NYSE:LSF), same as the preceding quarter. Israel Englander’s Millennium Management is the largest position holder in the company, with 55,471 shares worth $44,102.9. Mission Produce, Inc. (NASDAQ:AVO)Number of Hedge Fund Holders: 5Mission Produce, Inc. (NASDAQ:AVO) is involved in activities like finding, cultivating, packaging, promoting, and delivering avocados, mangoes, and blueberries to grocery stores, distributors, and businesses in the foodservice sector, both within the United States and around the world. The company's operations are divided into three segments – Marketing and Distribution, International Farming, and Blueberries. Mission Produce, Inc. (NASDAQ:AVO) is one of the best vegan stocks to buy. On June 8, Mission Produce, Inc. (NASDAQ:AVO) reported a Q2 non-GAAP EPS of $0.01 and a revenue of $221.1 million, exceeding Wall Street estimates by $0.02 and $2.99 million, respectively.According to Insider Monkey’s second quarter database, 5 hedge funds were bullish on Mission Produce, Inc. (NASDAQ:AVO), compared to 4 funds in the preceding quarter. Ken Griffin’s Citadel Investment Group is the largest stakeholder of the company, with 55,364 shares valued at $671,012.8. Local Bounti Corporation (NYSE:LOCL)Number of Hedge Fund Holders: 9Next on our list of the best vegan stocks is Local Bounti Corporation (NYSE:LOCL). It grows and packs fresh greens like lettuce, herbs, and loose-leaf lettuce in the United States. They sell these products to grocery stores and companies that distribute food to restaurants and other businesses. On August 9, Local Bounti Corporation (NYSE:LOCL) reported a Q2 GAAP EPS of -$1.35 and a revenue of $7.18 million. Revenue for the period increased 15.2% on a year-over-year basis.According to Insider Monkey’s second quarter database, 9 hedge funds were bullish on Local Bounti Corporation (NYSE:LOCL), compared to 8 funds in the prior quarter.7. Calavo Growers, Inc. (NASDAQ:CVGW)Number of Hedge Fund Holders: 10Calavo Growers, Inc. (NASDAQ:CVGW) is in the business of marketing and delivering avocados, ready-to-eat avocados, and other perishable foods. They supply these products to different types of customers, such as grocery stores, restaurants, big retail clubs, large stores, food distributors, and wholesale buyers around the globe. The company's operations are divided into two parts – Grown and Prepared. Calavo Growers, Inc. (NASDAQ:CVGW) is one of the best vegan stocks. On June 23, Calavo Growers, Inc. (NASDAQ:CVGW) declared a $0.10 per share quarterly dividend, in line with previous. The dividend was paid to shareholders on July 11.According to Insider Monkey’s second quarter database, 10 hedge funds were bullish on Calavo Growers, Inc. (NASDAQ:CVGW). This number increased from the preceding quarter when 8 funds had invested in the stock. Ken Grossman and Glen Schneider’s SG Capital Management is the leading stakeholder in the company, with 299,764 shares worth $8.7 million.6. Oatly Group AB (NASDAQ:OTLY)Number of Hedge Fund Holders: 13Oatly Group AB (NASDAQ:OTLY) is an oat milk company based in Sweden. The company produces a variety of plant-based dairy products using oats. The company, originally named Havre Global AB, changed its name to Oatly Group AB (NASDAQ:OTLY) in March 2021. Founded in 1994, its headquarters are situated in Malmö, Sweden. On July 27, Oatly Group AB (NASDAQ:OTLY) announced a Q2 GAAP EPS of -$0.15 and a revenue of $196 million, falling short of Street consensus by $0.02 and $13.68 million, respectively. Regardless, it remains a popular vegan stock among smart investors. According to Insider Monkey’s second quarter database, 13 hedge funds were bullish on Oatly Group AB (NASDAQ:OTLY), compared to 12 funds in the last quarter. Anand Parekh’s Alyeska Investment Group is the largest position holder in the company, with 2.97 million shares worth $6.1 million.Like Olaplex Holdings, Inc. (NASDAQ:OLPX), Tyson Foods, Inc. (NYSE:TSN), and e.l.f. Beauty, Inc. (NYSE:ELF), Oatly Group AB (NASDAQ:OTLY) is one of the best vegan stocks to invest in.Here is what ClearBridge Investments Mid Cap Growth Strategy has to say about Oatly Group AB (NASDAQ:OTLY) in its Q4 2021 investor letter:“We also closed out three names as we constantly seek ways to improve the Strategy’s overall growth profile. Oatly is a leader in dairy alternative oat-milk products benefiting from long-term secular growth of the category. That growth, however, is contingent on its ability to scale up manufacturing and we sold the position due to increased risk that global supply chain constraints would limit such efforts.” Click to continue reading and see 5 Best Vegan Stocks to Buy Now.  Suggested articles:30 Biggest Companies in the World by 2023 Revenue10 Best Cosmetic Surgery and Aesthetics Stocks to Buy10 Best AI Penny Stocks to Buy Now Disclosure: None. 11 Best Vegan Stocks to Buy Now is originally published on Insider Monkey.

Insider Monkey

11 Best Vegan Stocks to Buy Now

https://finance.yahoo.com/news/11-best-vegan-stocks-buy-130729108.html

c86f6070-b7a9-3554-b146-1ab2f0ad2a04

AVO

Mission Produce, Inc. (AVO) is expected to deliver a year-over-year decline in earnings on lower revenues when it reports results for the quarter ended July 2023. This widely-known consensus outlook gives a good sense of the company's earnings picture, but how the actual results compare to these estimates is a powerful factor that could impact its near-term stock price.The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released on September 11. On the other hand, if they miss, the stock may move lower.While management's discussion of business conditions on the earnings call will mostly determine the sustainability of the immediate price change and future earnings expectations, it's worth having a handicapping insight into the odds of a positive EPS surprise.Zacks Consensus EstimateThis company is expected to post quarterly earnings of $0.19 per share in its upcoming report, which represents a year-over-year change of -29.6%.Revenues are expected to be $244.64 million, down 21.9% from the year-ago quarter.Estimate Revisions TrendThe consensus EPS estimate for the quarter has remained unchanged over the last 30 days. This is essentially a reflection of how the covering analysts have collectively reassessed their initial estimates over this period.Investors should keep in mind that an aggregate change may not always reflect the direction of estimate revisions by each of the covering analysts.Earnings WhisperEstimate revisions ahead of a company's earnings release offer clues to the business conditions for the period whose results are coming out. This insight is at the core of our proprietary surprise prediction model -- the Zacks Earnings ESP (Expected Surprise Prediction).The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a more recent version of the Zacks Consensus EPS estimate. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier.Story continuesThus, a positive or negative Earnings ESP reading theoretically indicates the likely deviation of the actual earnings from the consensus estimate. However, the model's predictive power is significant for positive ESP readings only.A positive Earnings ESP is a strong predictor of an earnings beat, particularly when combined with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold). Our research shows that stocks with this combination produce a positive surprise nearly 70% of the time, and a solid Zacks Rank actually increases the predictive power of Earnings ESP.Please note that a negative Earnings ESP reading is not indicative of an earnings miss. Our research shows that it is difficult to predict an earnings beat with any degree of confidence for stocks with negative Earnings ESP readings and/or Zacks Rank of 4 (Sell) or 5 (Strong Sell).How Have the Numbers Shaped Up for Mission Produce, Inc.For Mission Produce, Inc.The Most Accurate Estimate is lower than the Zacks Consensus Estimate, suggesting that analysts have recently become bearish on the company's earnings prospects. This has resulted in an Earnings ESP of -32.76%.On the other hand, the stock currently carries a Zacks Rank of #3.So, this combination makes it difficult to conclusively predict that Mission Produce, Inc. Will beat the consensus EPS estimate.Does Earnings Surprise History Hold Any Clue?While calculating estimates for a company's future earnings, analysts often consider to what extent it has been able to match past consensus estimates. So, it's worth taking a look at the surprise history for gauging its influence on the upcoming number.For the last reported quarter, it was expected that Mission Produce, Inc. Would post a loss of $0.02 per share when it actually produced earnings of $0.01, delivering a surprise of +150%.Over the last four quarters, the company has beaten consensus EPS estimates just once.Bottom LineAn earnings beat or miss may not be the sole basis for a stock moving higher or lower. Many stocks end up losing ground despite an earnings beat due to other factors that disappoint investors. Similarly, unforeseen catalysts help a number of stocks gain despite an earnings miss.That said, betting on stocks that are expected to beat earnings expectations does increase the odds of success. This is why it's worth checking a company's Earnings ESP and Zacks Rank ahead of its quarterly release. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported.Mission Produce, Inc. Doesn't appear a compelling earnings-beat candidate. However, investors should pay attention to other factors too for betting on this stock or staying away from it ahead of its earnings release.Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free reportMission Produce, Inc. (AVO) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

Analysts Estimate Mission Produce, Inc. (AVO) to Report a Decline in Earnings: What to Look Out for

https://finance.yahoo.com/news/analysts-estimate-mission-produce-inc-140005363.html

bc603301-8258-3b4e-a77c-1f8ea4de33cf

AVRO

CAMBRIDGE, Mass., July 12, 2023--(BUSINESS WIRE)--AVROBIO, Inc. (Nasdaq: AVRO), a leading clinical-stage gene therapy company working to free people from a lifetime of genetic disease, today announced that it has completed a review of its business, including the status of its programs, resources, and capabilities. AVROBIO has made the determination to halt further development of its programs and to conduct a comprehensive exploration of strategic alternatives focused on maximizing shareholder value.As part of this evaluation process, AVROBIO will explore potential strategic alternatives that may include, but are not limited to, an acquisition, merger, business combination, or other transaction. There can be no assurance that its exploration will result in AVROBIO pursuing a transaction or that any transaction, if pursued, will be completed on attractive terms, if at all. AVROBIO has not set a timetable for completion of this evaluation process and does not intend to disclose further developments unless and until it is determined that further disclosure is appropriate or necessary.Forward-Looking StatementsThis press release contains forward-looking statements, including statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements may be identified by forward-looking terminology such as "aims," "anticipates," "believes," "continue," "could," "designed to," "estimates," "expects," "forecasts," "goal," "intends," "may," "plans," "possible," "potential," "predicts," "projects," "seeks," "strives," "should," "will," and similar expressions or the negative of these terms. These forward-looking statements include, without limitation, statements relating to our conducting a comprehensive evaluation of strategic alternatives focused on maximizing shareholder value; exploring potential strategic alternatives that may include, but are not limited to, an acquisition, merger, business combination, or other transaction and the completion of such a review process. Any such statements in this press release that are not statements of historical fact may be deemed to be forward-looking statements.Story continuesAny forward-looking statements in this press release are based on AVROBIO’s current expectations, estimates and projections about our industry as well as management’s current beliefs and expectations of future events only as of today and are subject to a number of risks and uncertainties that could cause actual results to differ materially and adversely from those set forth in or implied by such forward-looking statements. These risks and uncertainties include, but are not limited to, risks relating to volatility and uncertainty in the capital markets for biotechnology and gene therapy companies; availability of suitable third parties with which to conduct contemplated strategic transactions; whether we will be able to pursue a strategic transaction, or whether any transaction, if pursued, will be completed on attractive terms or at all; and whether our cash resources will be sufficient to fund our foreseeable and unforeseeable operating expenses and capital requirements. For a discussion of these and other risks and uncertainties, and other important factors, any of which could cause AVROBIO’s actual results to differ materially and adversely from those contained in the forward-looking statements, see the section entitled "Risk Factors" in AVROBIO’s most recent Annual or Quarterly Report, as well as discussions of potential risks, uncertainties and other important factors in AVROBIO’s subsequent filings with the Securities and Exchange Commission. AVROBIO explicitly disclaims any obligation to update any forward-looking statements except to the extent required by law.View source version on businesswire.com: https://www.businesswire.com/news/home/20230712243011/en/ContactsInvestor Contact: Christopher F. BrinzeyWestwicke, an ICR [email protected] Contact: Kit RodopheleTen Bridge [email protected]

Business Wire

AVROBIO to Explore Strategic Alternatives

https://finance.yahoo.com/news/avrobio-explore-strategic-alternatives-110000485.html

b7113c58-157e-31e1-ad3b-f12fdf5b0fd1

AVRO

AVROBIO AVRO announced completing a review of its business encompassing the status of its programs, resources and capabilities as part of its reprioritization efforts. To this extent, the company has decided to halt the development programs of its investigational gene therapy candidates.Per AVROBIO, the potential strategic alternatives may include, but are not limited to, an acquisition, merger, business combination or other transaction under its evaluation process. In the event of AVROBIO pursuing a transaction, the company refrained from giving its shareholders any assurance that such transaction will be completed on attractive terms.AVRO has not provided any anticipated date of completion of its evaluation process. Additionally, the company is reluctant to disclose further developments unless and until it is determined that further disclosure is appropriate or necessary.The stock of the company surged 46% on Wednesday in response to the news. Year to date, shares of AVROBIO have shot up 100.6% against the industry’s 10.5% decline.Zacks Investment ResearchImage Source: Zacks Investment ResearchWe would also like to remind the investors that last month, the company closed the sale of its investigational hematopoietic stem cell (HSC) gene therapy program for cystinosis to Swedish pharma goliath, Novartis NVS. Per the terms of the agreement, Novartis made an upfront payment of $87.5 million in cash to AVROBIO in consideration for the sale and transfer of the latter’s asset.However, AVRO will reportedly retain full rights to its remaining portfolio of first-in-class HSC gene therapies for Gaucher disease type 1 and type 3, Hunter syndrome and Pompe disease. Additionally, the company has granted Novartis exclusive licenses tocertain other assets, know-how and other intellectual property related to its gene therapy platform for use in cystinosis. AVROBIO also has a separate agreement with Novartis, which will provide certain transition, knowledge transfer and other related services to the latter, playing its part in aiding a smooth transition program.Story continuesManagement believes that the influx of cash from the asset sale agreement will extend the company’s cash runway into the fourth quarter of 2024.AVROBIO, Inc. Price and ConsensusAVROBIO, Inc. Price and ConsensusAVROBIO, Inc. price-consensus-chart | AVROBIO, Inc. QuoteZacks Rank and Stocks to ConsiderAVROBIO currently has a Zacks Rank #3 (Hold).A couple of better-ranked stocks in the same industry are ADC Therapeutics ADCT and Anixa Biosciences ANIX, each carrying a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.In the past 90 days, the Zacks Consensus Estimate for ADC Therapeutics’ 2023 loss per share has widened from $2.58 to $2.63. During the same period, the estimate for ADC Therapeutics’ 2024 loss per share narrowed from $2.72 to $2.49. Year-to-date, shares of ADCT have lost 60.7%.ADCT beat estimates in three of the trailing four quarters, missing the mark on one occasion, delivering an average earnings surprise of 10.70%.  In the past 90 days, the Zacks Consensus Estimate for Anixa Biosciences’ 2023 loss per share has narrowed from 43 cents to 33 cents. The estimate for Anixa Biosciences’ 2024 loss per share is currently pegged at 38 cents. Year-to-date, shares of ANIX have lost 26.6%.ANIX beat estimates in each of the trailing four quarters, delivering an average earnings surprise of 31.21%.  Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free reportNovartis AG (NVS) : Free Stock Analysis ReportADC Therapeutics SA (ADCT) : Free Stock Analysis ReportAVROBIO, Inc. (AVRO) : Free Stock Analysis ReportANIXA BIOSCIENCES INC (ANIX) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

AVROBIO (AVRO) to Explore Strategic Options, Stock Rises 46%

https://finance.yahoo.com/news/avrobio-avro-explore-strategic-options-110800142.html

7c597a32-1f41-30ff-b992-12e51d8d5bd8

AVTA

AvantaxScottsdale-based firm attracted by Avantax’s technology, tax-focus and collaborative communityDALLAS, Aug. 24, 2023 (GLOBE NEWSWIRE) -- Avantax®, a leader in tax-focused financial planning and wealth management, welcomes CFR Capital Group, an Arizona-based financial services firm with approximately $120 million in total client assets, as of June 30, 2023. The firm’s approach to comprehensive tax and financial planning for clients includes its ownership of three active H&R Block franchises in Arizona.“Avantax’s tax focus and technology was key for us because we’re so diversified, doing tax returns and financial planning, we needed technology to give clients a true snapshot of everything going on in their financial lives. Avantax’s technology was a big reason for our affiliating,” said CFR Capital Group CEO and Founder Frank Calise. “We’ve always told clients, ‘It’s not what you make, it’s what you keep.’ Our niche is helping clients reduce taxes as much as possible so they can keep more of what they earn, and Avantax shares that same commitment to looking at everything through the lens of tax planning.”Calise transferred to Avantax from Securities America, a broker-dealer of Advisor Group, as did the firm’s managing partner Edward Rodriguez, and their lead tax and financial advisor, Thomas Benscoter. The Scottsdale-based firm has a total staff of 20.“Frank and his team have an unwavering commitment to their clients and to helping guide them along their financial journey with tax, financial and investment advice, which is a perfect fit for Avantax,” said Todd Mackay, President, Wealth Management at Avantax. “We’re eager to support Frank and his team with the technology and the Home Office resources they want to further enhance their client service while pursuing the long-term growth plans Frank has for his firm.”In addition to having the right tools, technology and tax focus, Calise said Avantax’s culture and community made it clear he’d found the right financial services partner.Story continues“The whole country is filled with people who need financial advice. I’ve never considered other advisors as competition, so collaborating with other Avantax advisors is something I’m looking forward to,” Calise said. “Throughout the process, I was impressed with everyone we met from Avantax, and I’m not easily impressed. They were all incredibly prepared and took the time to answer all our questions. Avantax’s transition team is the best I’ve seen in my 25 years in this business. We couldn’t be any happier.”Tax and financial professionals can learn more about Avantax by clicking here.Avantax and H&R Block are unaffiliated entities.About Avantax® Avantax, Inc. (NASDAQ: AVTA) delivers tax-focused financial planning and wealth management solutions for Financial Professionals, tax professionals and CPA firms, supporting our goal of minimizing clients’ tax burdens through comprehensive tax-focused financial planning. We have two distinct, but related, models within our business: the independent Financial Professional model and the employee-based model. We refer to our independent Financial Professional model as Avantax Wealth Management®. Avantax Wealth Management offers services through its registered broker-dealer, registered investment advisor (RIA), and insurance agency subsidiaries and is a leading U.S. tax-focused independent broker-dealer that works with a nationwide network of Financial Professionals operating as independent contractors. We refer to our employee-based model as Avantax Planning Partners℠. Avantax Planning Partners offers services through its RIA and insurance agency by partnering with CPA firms to provide their consumer and small-business clients with holistic financial planning and advisory services. Collectively, we had $83.8 billion in total client assets as of June 30, 2023. For additional information, please visit us at www.avantax.com. You can also find us on LinkedIn.Media Contacts:Tony Katsulos Avantax, Inc.(972) [email protected] GalanteStreetCred PR for Avantax, Inc.(402) [email protected] [email protected]

GlobeNewswire

Avantax Welcomes CFR Capital with $120 Million in Total Client Assets

https://finance.yahoo.com/news/avantax-welcomes-cfr-capital-120-131500622.html

e6a44282-47f4-3433-b5c5-d9eb6e6545ec

AVTA

Avantax30-year-old, California-based wealth management firm attracted by opportunities to partner with CPAs across the Avantax Community to deliver unified services to clientsDALLAS, Sept. 06, 2023 (GLOBE NEWSWIRE) -- Avantax®, a leader in tax-focused financial planning and wealth management, welcomes Comprehensive Financial Services (CFS), a California-based financial services firm with more than $230 million in total client assets as of May 15, 2023. The eight-person firm is led by Anna Luke, CFP® and her husband Victor Luke; they transferred to Avantax from Independent Financial Group (IFG).Anna Luke has grown a loyal client base by delivering extraordinary service with a disciplined financial planning approach that includes meeting often with clients, focusing on wealth preservation, and taking a personal approach to client care.“When you become our client, we immediately begin treating you like family. We meet numerous times a year, sometimes monthly depending on the client’s needs, so we’re very hands-on with clients,” said Anna Luke, President and CEO of Comprehensive Financial Services. “The same holds true for our team, they’re much more than employees to us. We gather for coffee talks every morning. They’re terrific and I always rave about them. I feel the same about everyone I’ve met at Avantax. They’re a very relaxed group, and we don’t need an appointment to talk with anyone at Avantax. We just pick up the phone and there’s someone on the other end answering my questions.”Victor Luke, who works with clients’ estate planning needs, added: “The main reason we chose Avantax is their tax focus. By teaming up with tax professionals in the Avantax network, our clients can improve tax efficiencies through cohesive relationships with CPAs in a way that gives us confidence and keeps clients satisfied with us as a one-stop shop. We’re excited about having a symbiotic relationship like that.”From the first conversation between CFS and Avantax, it was clear there was alignment beyond financial services.Story continues“I feel very fortunate to know Anna and Victor personally, and to welcome them into the Avantax Community because their firm has such a collaborative culture and they care so deeply about protecting clients’ wealth,” said Laurie Stack, VP, Business Development and Head of the Avantax Women’s Advisor Forum. “Anna is an incredible businesswoman who literally started with nothing but was so determined to succeed that she grew into a highly successful financial advisor. Anna is a shining example for women everywhere.”In welcoming CFS, Avantax Wealth Management President Todd Mackay said: “Anna and Victor have built a firm whose extraordinary client service, and the deep relationships and trust they have with their staff, mirrors our own at Avantax. I’m pleased, as I know Anna is, with the smooth onboarding and transition process, which has laid the foundation for what I believe will be a long and rewarding relationship as Avantax works with purpose to help Anna pursue her long-term growth objectives.”Tax and financial professionals can learn more about Avantax by clicking here.About Avantax® Avantax, Inc. (NASDAQ: AVTA) delivers tax-focused financial planning and wealth management solutions for Financial Professionals, tax professionals and CPA firms, supporting our goal of minimizing clients’ tax burdens through comprehensive tax-focused financial planning. We have two distinct, but related, models within our business: the independent Financial Professional model and the employee-based model. We refer to our independent Financial Professional model as Avantax Wealth Management®. Avantax Wealth Management offers services through its registered broker-dealer, registered investment advisor (RIA), and insurance agency subsidiaries and is a leading U.S. tax-focused independent broker-dealer that works with a nationwide network of Financial Professionals operating as independent contractors. We refer to our employee-based model as Avantax Planning Partners℠. Avantax Planning Partners offers services through its RIA and insurance agency by partnering with CPA firms to provide their consumer and small-business clients with holistic financial planning and advisory services. Collectively, we had $83.8 billion in total client assets as of June 30, 2023. For additional information, please visit us at www.avantax.com. You can also find us on LinkedIn.Media Contacts:Tony Katsulos Avantax, Inc.(972) [email protected] GalanteStreetCred PR for Avantax, Inc.(402) [email protected] [email protected]

GlobeNewswire

Avantax Welcomes Anna Luke and Her Comprehensive Financial Services Team with over $230 Million in Total Client Assets

https://finance.yahoo.com/news/avantax-welcomes-anna-luke-her-131500298.html

3a6a724c-7451-3525-8c69-b998d6219161