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VLO

Valero Energy Corp (NYSE:VLO) has seen a daily gain of 3.54%, and a 3-month gain of 25.9%, with an Earnings Per Share (EPS) (EPS) of 29.03. But, is the stock fairly valued? This comprehensive analysis aims to answer that question and provide valuable insights into Valero Energy's financial performance and future prospects.Company IntroductionWarning! GuruFocus has detected 6 Warning Sign with MPC. Click here to check it out. VLO 30-Year Financial DataThe intrinsic value of VLOValero Energy is one of the largest independent refiners in the United States. Operating 15 refineries with a total throughput capacity of 3.2 million barrels a day in the United States, Canada, and the United Kingdom, Valero Energy also owns 12 ethanol plants with a capacity of 1.6 billion gallons of ethanol a year. It holds a 50% stake in Diamond Green Diesel, which can produce 1.2 billion gallons per year of renewable diesel. With a current stock price of $141.07 and a market cap of $49.80 billion, Valero Energy's intrinsic value, estimated through our GF Value, stands at $133.41.Unveiling Valero Energy (VLO)'s Value: Is It Really Priced Right? A Comprehensive GuideUnderstanding GF ValueThe GF Value is a unique measure of a stock's intrinsic value, computed based on historical trading multiples, a GuruFocus adjustment factor, and future business performance estimates. The GF Value Line on our summary page provides an overview of the fair value at which the stock should ideally be traded. If the stock price is significantly above the GF Value Line, it is overvalued and its future return is likely to be poor. Conversely, if it is significantly below the GF Value Line, its future return will likely be higher.According to GuruFocus Value calculation, Valero Energy is estimated to be fairly valued. This suggests that the long-term return of its stock is likely to be close to the rate of its business growth.Unveiling Valero Energy (VLO)'s Value: Is It Really Priced Right? A Comprehensive GuideLink: These companies may deliever higher future returns at reduced risk.Financial StrengthInvesting in companies with low financial strength could result in permanent capital loss. Therefore, it's crucial to review a company's financial strength before deciding to buy shares. Valero Energy has a cash-to-debt ratio of 0.45, which ranks worse than 52.11% of 1021 companies in the Oil & Gas industry. However, GuruFocus ranks Valero Energy's financial strength as 8 out of 10, suggesting a strong balance sheet.Story continuesUnveiling Valero Energy (VLO)'s Value: Is It Really Priced Right? A Comprehensive GuideProfitability and GrowthInvesting in profitable companies carries less risk. Valero Energy has been profitable 9 years over the past 10 years. During the past 12 months, the company had revenues of $157.10 billion and Earnings Per Share (EPS) of $29.03. Its operating margin of 9.48% is better than 52.02% of 967 companies in the Oil & Gas industry. GuruFocus ranks Valero Energy's profitability as strong.Long-term stock performance is closely correlated with growth . Companies that grow faster create more value for shareholders. The average annual revenue growth of Valero Energy is19.4%, which ranks better than 69.65% of 850 companies in the Oil & Gas industry. The 3-year average EBITDA growth is 45.7%, which ranks better than 81.22% of 820 companies in the Oil & Gas industry.ROIC vs WACCReturn on invested capital (ROIC) measures how well a company generates cash flow relative to the capital it has invested in its business. The weighted average cost of capital (WACC) is the rate that a company is expected to pay on average to all its security holders to finance its assets. For the past 12 months, Valero Energy's return on invested capital is 28.86, and its cost of capital is 9.87.Unveiling Valero Energy (VLO)'s Value: Is It Really Priced Right? A Comprehensive GuideConclusionOverall, Valero Energy's stock is estimated to be fairly valued. The company's financial condition is strong and its profitability is strong. Its growth ranks better than 81.22% of 820 companies in the Oil & Gas industry. To learn more about Valero Energy stock, you can check out its 30-Year Financials here.To find out the high quality companies that may deliver above average returns, please check out GuruFocus High Quality Low Capex Screener.This article first appeared on GuruFocus.

GuruFocus.com

Unveiling Valero Energy (VLO)'s Value: Is It Really Priced Right? A Comprehensive Guide

https://finance.yahoo.com/news/unveiling-valero-energy-vlo-value-153258210.html

7d8a55f0-ada7-3ec2-a070-11ca22eaf4a7

VLO

Valero Energy Corp (NYSE:VLO) has seen a significant surge in its stock price over the past three months, with a gain of 27.22%. Over the past week alone, the stock has risen by 6.24%. The company's market capitalization stands at $50.36 billion, reflecting its substantial size and influence in the Oil & Gas industry. The current stock price is $142.6, which, when compared to the GF Value of $133.41, suggests that the stock is fairly valued. Three months ago, the GF Value was $141.65, indicating that the stock was modestly undervalued at that time.Company OverviewWarning! GuruFocus has detected 5 Warning Signs with GWRE. Click here to check it out. VLO 30-Year Financial DataThe intrinsic value of VLOValero Energy Corp is one of the largest independent refiners in the United States. The company operates 15 refineries with a total throughput capacity of 3.2 million barrels a day in the United States, Canada, and the United Kingdom. Valero also owns 12 ethanol plants with a capacity of 1.6 billion gallons of ethanol a year and holds a 50% stake in Diamond Green Diesel, which has the capacity to produce 1.2 billion gallons per year of renewable diesel.What's Driving Valero Energy Corp's Surprising 27% Stock Rally?Profitability AnalysisValero Energy Corp's Profitability Rank is 8/10, indicating a strong financial health. The company's operating margin of 9.48% is better than 52.02% of the companies in the industry. The ROE, ROA, and ROIC, which stand at 46.65%, 17.91%, and 28.86% respectively, are all better than the majority of the companies in the industry. Furthermore, the company has maintained profitability for 9 out of the past 10 years, which is better than 84.48% of the companies in the industry.What's Driving Valero Energy Corp's Surprising 27% Stock Rally?Growth ProspectsThe company's Growth Rank is 8/10, suggesting promising future prospects. The 3-Year Revenue Growth Rate per Share is 19.40%, and the 5-Year Revenue Growth Rate per Share is 9.90%, both of which are better than the majority of the companies in the industry. However, the Total Revenue Growth Rate for the next 3 to 5 years is estimated to be -13.52%, which is better than only 4.62% of the companies. The 3-Year EPS without NRI Growth Rate is 70.70%, but the future 3 to 5 years EPS Growth Rate is estimated to be -21.81%.Story continuesWhat's Driving Valero Energy Corp's Surprising 27% Stock Rally?Major Stock HoldersPRIMECAP Management (Trades, Portfolio) is the largest holder of Valero Energy Corp's stock, holding 784,525 shares, which accounts for 0.22% of the total shares. Jim Simons (Trades, Portfolio) and Steven Cohen (Trades, Portfolio) are the second and third largest holders, holding 345,288 and 263,009 shares respectively.Competitive LandscapeValero Energy Corp operates in a competitive industry with major players like Phillips 66(NYSE:PSX) with a market cap of $54.96 billion, Marathon Petroleum Corp(NYSE:MPC) with a market cap of $62.58 billion, and HF Sinclair Corp(NYSE:DINO) with a market cap of $11.24 billion.ConclusionIn conclusion, Valero Energy Corp has demonstrated strong financial health and growth prospects, as evidenced by its profitability and growth ranks. The company's stock has seen a significant surge over the past three months, and it is currently fairly valued according to the GF Value. However, investors should keep an eye on the company's estimated total revenue growth rate and EPS growth rate for the next 3 to 5 years. The company operates in a competitive industry, and its future performance will be influenced by the actions of its competitors.This article first appeared on GuruFocus.

GuruFocus.com

What's Driving Valero Energy Corp's Surprising 27% Stock Rally?

https://finance.yahoo.com/news/whats-driving-valero-energy-corps-161731182.html

45741551-50ac-3442-b306-563d41cd37cf

VMC

Vulcan Materials Company VMC is benefiting from the U.S. administration’s endeavor to pump money for rebuilding the nation's roads, bridges and other infrastructure.The Zacks Building Products - Concrete and Aggregates industry has been witnessing an increase in public construction demand. The industry has gained 28.5% in the past six months, outperforming the Zacks Construction sector’s 19.7% growth and the S&P 500 index’s 12.4% growth.Vulcan’s shares jumped 23.9%, slightly below the industry but outperforming the broader sector.Zacks Investment ResearchImage Source: Zacks Investment ResearchEarnings estimates for 2023 have increased to $6.73 per share from $6.48 in the past 30 days. This implies 31.7% year-over-year growth on a 6.3% rise in revenues. This can further be substantiated from its VGM Score of B. These positive trends indicate bullish analysts’ sentiments, robust fundamentals and the expectation of outperformance in the near term.Let’s check out the factors that are pushing this Zacks Rank #3 (Hold) company despite price fluctuation of major inputs, energy and labor constraints and soft single-family residential construction demand, leading to a 1-4% Aggregates shipments decline and high single digit rise in freight-adjusted cash cost in the third quarter.Solid Public Construction ActivityVulcan has been witnessing strong pricing, underpinned by growing public demand (mainly transport) and operational discipline. On Nov 15, 2021, President Joe Biden signed a bipartisan infrastructure bill of $550 billion, in addition to the approved funds of $450 billion for five years in August 2021. This bill comprises new investments in almost every infrastructure sector over the next five years, including transportation, energy, broadband and water. Out of the total allotted spending, the infrastructure development law will provide $100 billion for roads, bridges and other major projects.Publicly-funded construction accounted for approximately 40% of its total Aggregates shipments and nearly 22% of the segment sales by volume were used in highway construction projects in 2022.On the second-quarter earnings call, the company noted that highway starts were up more than 20% and 2024 state budgets are at very healthy levels. The company expects the current strength in private non-residential construction activity and increased public funding to offset residential market woes in the remainder of 2023.Story continuesLong-Term Strategic MovesThe company remains focused on creating long-term value by compounding unit margins through four strategic initiatives — Commercial Excellence, Operational Excellence, Strategic Sourcing and Logistics Innovation — that enhance price growth as well as operating efficiencies. Higher price realizations and its four strategic initiatives should continue to increase unit profitability.Improvements in pricing, fixed cost leverage and operating efficiencies helped it achieve 28% growth in unit profitability of the Aggregates segment and a 15% improvement in adjusted EBITDA in first-quarter 2023.Although Aggregates shipments fell 1% in the second quarter of 2023, pricing momentum and solid operational execution drove a 22% improvement in cash gross profit per ton. The company remains focused on compounding improvements in unit profitability throughout the cycle through fixed cost leverage, price growth and operating efficiencies.Expansion/De-Risk BusinessSince 2014, Vulcan has completed dozens of value-enhancing acquisitions in some of the fastest-growing markets in the country. In 2022, it acquired five aggregates facilities in Texas, four ready-mixed concrete facilities and two idle ready-mixed concrete sites in Virginia, eight aggregates, four asphalt mix and seven ready-mixed concrete operations in California and an aggregates operations serving limited markets along the Gulf Coast in Honduras for $594.6 million.Apart from buyouts, the company focuses on divestitures to de-risk its business and focus more on its Aggregates business. In the fourth quarter of 2022, the company sold off its concrete operations in New Jersey, New York and Pennsylvania. In third-quarter 2022, it divested excess real estate in Southern California.Industry Woes PersistThe company uses large amounts of electricity, diesel fuel, liquid asphalt and other petroleum-based resources, subject to potential supply constraints and significant price fluctuation, which could affect operating results and profitability. It has also been facing energy and labor constraints as well as lower residential construction demand.Owing to soft single-family residential construction demand, the company expects Aggregates shipments to be down 1-4%. Freight-adjusted cash cost is estimated to increase high single digit in 2023. Concrete same-store volumes are expected to decline in the mid-single-digit.Key PicksSome top-ranked stocks in the sector are:Boise Cascade Company BCC sports a Zacks Rank #1 (Strong Buy). BCC has a trailing four-quarter earnings surprise of 25.5% on average. You can see the complete list of today’s Zacks #1 Rank stocks here.The Zacks Consensus Estimate for BCC’s 2023 sales and earnings per share (EPS) indicates a decline of 20.1% and 45.5%, respectively, from the year-ago period’s levels.EMCOR Group, Inc. EME flaunts a Zacks Rank #1. It has a trailing four-quarter earnings surprise of 17.2%, on average.The Zacks Consensus Estimate for EME’s 2023 sales and EPS suggests growth of 11.5% and 35.9%, respectively, from the year-ago period’s levels.TopBuild Corp. BLD sports a Zacks Rank #1. It has a trailing four-quarter earnings surprise of 14.1%, on average.The Zacks Consensus Estimate for BLD’s 2023 sales and EPS indicates gains of 3.3% and 6.1%, 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 reportVulcan Materials Company (VMC) : Free Stock Analysis ReportEMCOR Group, Inc. (EME) : Free Stock Analysis ReportBoise Cascade, L.L.C. (BCC) : Free Stock Analysis ReportTopBuild Corp. (BLD) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

Will Vulcan (VMC) Benefit From Public Sector Demand in 2H23?

https://finance.yahoo.com/news/vulcan-vmc-benefit-public-sector-155000806.html

a2724e9f-9f88-320a-ab36-4140f4d097fc

VMC

Key InsightsThe projected fair value for Vulcan Materials is US$209 based on 2 Stage Free Cash Flow to EquityCurrent share price of US$215 suggests Vulcan Materials is potentially trading close to its fair value Analyst price target for VMC is US$244, which is 17% above our fair value estimateHow far off is Vulcan Materials Company (NYSE:VMC) from its intrinsic value? Using the most recent financial data, we'll take a look at whether the stock is fairly priced by projecting its future cash flows and then discounting them to today's value. Our analysis will employ the Discounted Cash Flow (DCF) model. Before you think you won't be able to understand it, just read on! It's actually much less complex than you'd imagine.We would caution that there are many ways of valuing a company and, like the DCF, each technique has advantages and disadvantages in certain scenarios. Anyone interested in learning a bit more about intrinsic value should have a read of the Simply Wall St analysis model. Check out our latest analysis for Vulcan Materials The MethodWe use what is known as a 2-stage model, which simply means we have two different periods of growth rates for the company's cash flows. Generally the first stage is higher growth, and the second stage is a lower growth phase. In the first stage we need to estimate the cash flows to the business over the next ten years. Where possible we use analyst estimates, but when these aren't available we extrapolate the previous free cash flow (FCF) from the last estimate or reported value. We assume companies with shrinking free cash flow will slow their rate of shrinkage, and that companies with growing free cash flow will see their growth rate slow, over this period. We do this to reflect that growth tends to slow more in the early years than it does in later years.A DCF is all about the idea that a dollar in the future is less valuable than a dollar today, and so the sum of these future cash flows is then discounted to today's value:Story continues10-year free cash flow (FCF) forecast2024202520262027202820292030203120322033 Levered FCF ($, Millions) US$967.3mUS$1.14bUS$1.16bUS$1.27bUS$1.35bUS$1.42bUS$1.48bUS$1.54bUS$1.59bUS$1.63bGrowth Rate Estimate SourceAnalyst x6Analyst x3Analyst x1Analyst x1Est @ 6.40%Est @ 5.13%Est @ 4.23%Est @ 3.61%Est @ 3.17%Est @ 2.87% Present Value ($, Millions) Discounted @ 6.8% US$905US$997US$947US$977US$973US$957US$934US$906US$875US$842("Est" = FCF growth rate estimated by Simply Wall St)Present Value of 10-year Cash Flow (PVCF) = US$9.3bAfter calculating the present value of future cash flows in the initial 10-year period, we need to calculate the Terminal Value, which accounts for all future cash flows beyond the first stage. The Gordon Growth formula is used to calculate Terminal Value at a future annual growth rate equal to the 5-year average of the 10-year government bond yield of 2.2%. We discount the terminal cash flows to today's value at a cost of equity of 6.8%.Terminal Value (TV)= FCF2033 × (1 + g) ÷ (r – g) = US$1.6b× (1 + 2.2%) ÷ (6.8%– 2.2%) = US$36bPresent Value of Terminal Value (PVTV)= TV / (1 + r)10= US$36b÷ ( 1 + 6.8%)10= US$18bThe total value, or equity value, is then the sum of the present value of the future cash flows, which in this case is US$28b. To get the intrinsic value per share, we divide this by the total number of shares outstanding. Relative to the current share price of US$215, the company appears around fair value at the time of writing. Remember though, that this is just an approximate valuation, and like any complex formula - garbage in, garbage out.dcfImportant AssumptionsThe calculation above is very dependent on two assumptions. The first is the discount rate and the other is the cash flows. Part of investing is coming up with your own evaluation of a company's future performance, so try the calculation yourself and check your own assumptions. The DCF also does not consider the possible cyclicality of an industry, or a company's future capital requirements, so it does not give a full picture of a company's potential performance. Given that we are looking at Vulcan Materials as potential shareholders, the cost of equity is used as the discount rate, rather than the cost of capital (or weighted average cost of capital, WACC) which accounts for debt. In this calculation we've used 6.8%, which is based on a levered beta of 0.936. Beta is a measure of a stock's volatility, compared to the market as a whole. We get our beta from the industry average beta of globally comparable companies, with an imposed limit between 0.8 and 2.0, which is a reasonable range for a stable business.SWOT Analysis for Vulcan MaterialsStrengthEarnings growth over the past year exceeded its 5-year average.Debt is well covered by earnings and cashflows.WeaknessEarnings growth over the past year underperformed the Basic Materials industry.Dividend is low compared to the top 25% of dividend payers in the Basic Materials market.Expensive based on P/E ratio and estimated fair value.OpportunityAnnual earnings are forecast to grow for the next 3 years.ThreatAnnual earnings are forecast to grow slower than the American market.Moving On:Valuation is only one side of the coin in terms of building your investment thesis, and it shouldn't be the only metric you look at when researching a company. The DCF model is not a perfect stock valuation tool. Instead the best use for a DCF model is to test certain assumptions and theories to see if they would lead to the company being undervalued or overvalued. If a company grows at a different rate, or if its cost of equity or risk free rate changes sharply, the output can look very different. For Vulcan Materials, there are three important factors you should assess:Risks: For instance, we've identified 1 warning sign for Vulcan Materials that you should be aware of.Future Earnings: How does VMC's growth rate compare to its peers and the wider market? Dig deeper into the analyst consensus number for the upcoming years by interacting with our free analyst growth expectation chart.Other Solid Businesses: Low debt, high returns on equity and good past performance are fundamental to a strong business. Why not explore our interactive list of stocks with solid business fundamentals to see if there are other companies you may not have considered!PS. The Simply Wall St app conducts a discounted cash flow valuation for every stock on the NYSE every day. If you want to find the calculation for other stocks just search 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.

Calculating The Intrinsic Value Of Vulcan Materials Company (NYSE:VMC)

https://finance.yahoo.com/news/calculating-intrinsic-value-vulcan-materials-105328777.html

8a5e8608-4973-3973-a048-fa271ae613aa

VMEO

NEW YORK, July 19, 2023 (GLOBE NEWSWIRE) -- Vimeo, Inc. (NASDAQ: VMEO), today announced the dates for its second quarter 2023 earnings report and earnings video event. After the close of market trading on Tuesday, August 1, 2023, Vimeo will post its second quarter results on the Investor Relations section of its website at https://www.vimeo.com/investors. On Wednesday, August 2, 2023, at 8:30 a.m. ET, Vimeo will live stream a video conference to answer questions regarding its first quarter results. The live stream and replay of the video will be open to the public at https://www.vimeo.com/investors.About VimeoVimeo (NASDAQ:VMEO) is the world's most innovative video experience platform. We enable anyone to create high-quality video experiences to connect better and bring ideas to life. We proudly serve our growing community of more than 300 million users — from creative storytellers to globally distributed teams at the world's largest companies. Learn more at www.vimeo.com.CONTACT: Contact Us Vimeo Investor Relations Ken Goff [email protected] Vimeo Communications Lisa Chan [email protected]

GlobeNewswire

Vimeo to Announce Q2 2023 Earnings on August 1 and Host Earnings Video Event on August 2

https://finance.yahoo.com/news/vimeo-announce-q2-2023-earnings-200500113.html

5b38eab1-30b4-39c1-9400-fa1583f14e76

VMEO

Vimeo.com, Inc.Future Conference Participation to be Announced on Investor Relations WebsiteNEW YORK, Sept. 05, 2023 (GLOBE NEWSWIRE) -- Vimeo will attend the Piper Sandler Growth Frontiers Conference on September 13, 2023. Chief Financial Officer of Vimeo, Gillian Munson, will participate in a fireside chat at 9:30 a.m. CT. A live audiocast of this event will be available to the public at https://www.vimeo.com/investors.Going forward, Vimeo’s participation in investor events will be announced on its Investor Relations site, https://www.vimeo.com/investors where visitors can also sign up to receive email alerts for future events. Live webcasts and replays of presentations, company filings, and safe harbor disclosure information can also be found there.About VimeoVimeo (NASDAQ:VMEO) is the world's most innovative video experience platform. We enable anyone to create high-quality video experiences to connect better and bring ideas to life. We proudly serve our growing community of more than 300 million users — from creative storytellers to globally distributed teams at the world's largest companies. Learn more at www.vimeo.com.CONTACT: Contact Us Vimeo Investor Relations Ken Goff [email protected] Vimeo Communications Lisa Chan [email protected]

GlobeNewswire

Vimeo to Present at Piper Sandler Growth Frontiers Conference

https://finance.yahoo.com/news/vimeo-present-piper-sandler-growth-201500790.html

1bd9c59f-ac59-3b9e-93cc-12671068cf86

VMO

ATLANTA, June 8, 2023 /PRNewswire/ -- Invesco Advisers, Inc., a subsidiary of Invesco Ltd. (NYSE: IVZ), announced today portfolio management changes for the following Invesco closed-end municipal funds (the "Funds"):(PRNewsfoto/Invesco Ltd.)Invesco Advantage Municipal Income Trust II (NYSE American: VKI)Invesco California Value Municipal Income Trust (NYSE: VCV)Invesco Municipal Income Opportunities Trust (NYSE: OIA)Invesco Municipal Opportunity Trust (NYSE: VMO)Invesco Municipal Trust (NYSE: VKQ)Invesco Pennsylvania Value Municipal Income Trust (NYSE: VPV)Invesco Quality Municipal Income Trust (NYSE: IQI)Invesco Trust for Investment Grade Municipals (NYSE: VGM)Invesco Trust for Investment Grade New York Municipals (NYSE: VTN)Invesco Value Municipal Income Trust (NYSE: IIM)Effective June 30, 2023, the following individuals are jointly and primarily responsible for the day-to-day management of Invesco Advantage Municipal Income Trust II, Invesco Municipal Opportunity Trust, Invesco Municipal Trust, Invesco Quality Municipal Income Trust, Invesco Trust for Investment Grade Municipals and Invesco Value Municipal Income Trust's portfolio:Mark Paris, Portfolio Manager, who has been associated with Invesco and/or its affiliates since 2010.John "Jack" Connelly, Portfolio Manager, who has been associated with Invesco and/or its affiliates since 2016.Joshua Cooney, Portfolio Manager, who has been associated with Invesco and/or its affiliates since 1999.Tim O'Reilly, Portfolio Manager, who has been associated with Invesco and/or its affiliates since 2010.John Schorle, Portfolio Manager, who has been associated with Invesco and/or its affiliates since 2010.Rebecca Setcavage, Portfolio Manager, who has been associated with Invesco and/or its affiliates since 2019. Ms. Setcavage was associated with OppenheimerFunds, a global asset management firm from 2017 to 2019.Julius Williams, Portfolio Manager, who has been associated with Invesco and/or its affiliates since 2010.Story continuesEffective June 30, 2023, the following individuals are jointly and primarily responsible for the day-to-day management of Invesco California Value Municipal Income Trust and Invesco Trust for Investment Grade New York Municipals' portfolio:Mark Paris, Portfolio Manager, who has been associated with Invesco and/or its affiliates since 2010.Michael Camarella, Portfolio Manager, who has been associated with Invesco and/or its affiliates since 2019. From 2003 to 2019, Mr. Camarella was associated with OppenheimerFunds, a global asset management firm.John "Jack" Connelly, Portfolio Manager, who has been associated with Invesco and/or its affiliates since 2016.Scott Cottier, Portfolio Manager, who has been associated with Invesco and/or its affiliates since 2019. From 2002 to 2019, Mr. Cottier was associated with OppenheimerFunds, a global asset management firm.Mark DeMitry, Portfolio Manager, who has been associated with Invesco and/or its affiliates since 2019. From 2001 to 2019, Mr. DeMitry was associated with OppenheimerFunds, a global asset management firm.Tim O'Reilly, Portfolio Manager, who has been associated with Invesco and/or its affiliates since 2010.John Schorle, Portfolio Manager, who has been associated with Invesco and/or its affiliates since 2010.Julius Williams, Portfolio Manager, who has been associated with Invesco and/or its affiliates since 2010.Effective June 30, 2023, the following individuals are jointly and primarily responsible for the day-to-day management of Invesco Municipal Income Opportunities Trust's portfolio:Mark Paris, Portfolio Manager, who has been associated with Invesco and/or its affiliates since 2010.John "Jack" Connelly, Portfolio Manager, who has been associated with Invesco and/or its affiliates since 2016.Tim O'Reilly, Portfolio Manager, who has been associated with Invesco and/or its affiliates since 2010.John Schorle, Portfolio Manager, who has been associated with Invesco and/or its affiliates since 2010.Julius Williams, Portfolio Manager, who has been associated with Invesco and/or its affiliates since 2010.Effective June 30, 2023, the following individuals are jointly and primarily responsible for the day-to-day management of Invesco Pennsylvania Value Municipal Income Trust's portfolio:Mark Paris, Portfolio Manager, who has been associated with Invesco and/or its affiliates since 2010.John "Jack" Connelly, Portfolio Manager, who has been associated with Invesco and/or its affiliates since 2016.Joshua Cooney, Portfolio Manager, who has been associated with Invesco and/or its affiliates since 1999.Elizabeth Mossow, Portfolio Manager, who has been associated with Invesco and/or its affiliates since 2019. From 2007 to 2019, Ms. Mossow was associated with OppenheimerFunds, a global asset management firm.Tim O'Reilly, Portfolio Manager, who has been associated with Invesco and/or its affiliates since 2010.John Schorle, Portfolio Manager, who has been associated with Invesco and/or its affiliates since 2010.Julius Williams, Portfolio Manager, who has been associated with Invesco and/or its affiliates since 2010.The year in which each Portfolio Manager became jointly and primarily responsible for the day-to-day management of their Fund(s) is set forth below:VKIVCVOIAVMOVKQVPVIQIVGMVTNIIMMark Paris2015201520092015201520152015201520152015Michael CamarellaN/A2021N/AN/AN/AN/AN/AN/A2021N/AJohn "Jack" Connelly2016201620162016201620162016201620162016Joshua Cooney2021N/AN/A20212021202120212021N/A2021Scott CottierN/A2021N/AN/AN/AN/AN/AN/A2021N/AMark DeMitryN/A2021N/AN/AN/AN/AN/AN/A2021N/AElizabeth MossowN/AN/AN/AN/AN/A2021N/AN/AN/AN/ATim O'Reilly2016201620162016201620162016201620162016John Schorle2018201820182018201820182018201820182018Rebecca Setcavage2021N/AN/A20212021N/A20212021N/A2021Julius Williams2015201120152015201520092015201520092015 For more information, call 1-800-341-2929.This communication is not intended to, and shall not, constitute an offer to purchase or sell shares of any of the Invesco Funds, including the Funds.About Invesco Ltd.Invesco Ltd. is a global independent investment management firm dedicated to delivering an investment experience that helps people get more out of life. Our distinctive investment teams deliver a comprehensive range of active, passive and alternative investment capabilities. With offices in more than 20 countries, Invesco managed $1.4 trillion in assets on behalf of clients worldwide as of March 31, 2023. For more information, visit www.invesco.com.Invesco Distributors, Inc. is the U.S. distributor for Invesco Ltd.'s retail products. Invesco Advisers, Inc. is an investment adviser; it provides investment advisory services to individual and institutional clients and does not sell securities. Each entity is a wholly owned, indirect subsidiary of Invesco Ltd.Note: There is no assurance that a closed-end fund will achieve its investment objective. Common shares are bought on the secondary market and may trade at a discount or premium to NAV. Regular brokerage commissions apply.NOT A DEPOSIT l  NOT FDIC INSURED  l  NOT GUARANTEED BY THE BANK  |  MAY LOSE VALUE  |  NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCYContact: Jeaneen Terrio [email protected] 212-278-9205 CisionView original content to download multimedia:https://www.prnewswire.com/news-releases/invesco-advisers-announces-portfolio-management-changes-for-invesco-municipal-closed-end-funds-301846089.htmlSOURCE Invesco Ltd.

PR Newswire

Invesco Advisers Announces Portfolio Management Changes for Invesco Municipal Closed-End Funds

https://finance.yahoo.com/news/invesco-advisers-announces-portfolio-management-131500800.html

1a2b3690-bd83-3fa7-bdef-246ecdbe2374

VMO

ATLANTA, Sept. 1, 2023 /PRNewswire/ -- The Board of Trustees of each of the Invesco closed-end funds listed below today declared the following dividends.(PRNewsfoto/Invesco Ltd.)EX-DATE9/14/23RECORD DATE9/15/23REINVEST DATE9/29/23PAYABLE DATE9/29/23Name of Closed-EndManagement Investment Company TickerMonthlyDividendAmount PerShareChange FromPriorDistributionInvesco Advantage Municipal Income Trust IIVKI$0.0309-0.0012Invesco Bond Fund VBF $0.0660+0.0025Invesco California Value Municipal Income Trust   VCV$0.0320-0.0015Invesco High Income 2023 Target Term FundIHIT$0.0200-0.0150Invesco High Income 2024 Target Term FundIHTA$0.0330-Invesco Municipal Income Opportunities Trust   OIA$0.0265-Invesco Municipal Opportunity Trust VMO$0.0340-0.0018Invesco Municipal Trust VKQ$0.0346-0.0018Invesco Pennsylvania Value Municipal Income TrustVPV$0.0305-Invesco Quality Municipal Income Trust  IQI$0.0358-0.0014Invesco Trust for Investment Grade Municipals VGM$0.0342-0.0019Invesco Trust for Investment Grade New York MunicipalsVTN$0.0320-0.0011Invesco Value Municipal Income TrustIIM$0.0441-0.0017Form 1099-DIV for the calendar year will report distributions for federal income tax purposes.  The Fund's annual report to shareholders will include information regarding the tax character of Fund distributions for the fiscal year.1 A portion of this distribution is estimated to be from a return of principal rather than net income.  The Section 19 notice referenced below provides more information and can be found on the Invesco website at www.invesco.com.The final determination of the source and tax characteristics of all distributions in 2023 will be made after the end of the year.In order to comply with the requirements of Section 19 of the Investment Company Act of 1940, each Fund will provide its shareholders of record on the record date with a Section 19 Notice disclosing the sources of its dividend payment when a distribution includes anything other than net investment income. The Section 19 Notice is not provided for tax reporting purposes but for informational purposes only. If applicable, this Section 19 Notice information can be found on the Funds' website at www.invesco.comStory continuesThe amount of dividends paid by each fund may vary from time to time.  Past amounts of dividends are no guarantee of future dividend payment amounts.Investing involves risk and it is possible to lose money on any investment in the funds.For additional information, shareholders of the closed end fund may contact Jeaneen Terrio at 212-278-9205, [email protected]. About Invesco Ltd.Invesco Ltd. is a global independent investment management firm dedicated to delivering an investment experience that helps people get more out of life. Our distinctive investment teams deliver a comprehensive range of active, passive and alternative investment capabilities. With offices in more than 20 countries, Invesco managed $1.5 trillion in assets on behalf of clients worldwide as of June 30, 2023. For more information, visit Invesco.com.Invesco Distributors, Inc. is the US distributor for Invesco Ltd. It is an indirect, wholly owned subsidiary of Invesco Ltd.Note: There is no assurance that a closed-end fund will achieve its investment objective. Shares are bought on the secondary market and may trade at a discount or premium to NAV. Regular brokerage commissions apply.NOT A DEPOSIT l  NOT FDIC INSURED  l  NOT GUARANTEED BY THE BANK  |  MAY LOSE VALUE  |  NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY—Invesco—CONTACT:   Closed-End Funds   800-341-2929CisionView original content to download multimedia:https://www.prnewswire.com/news-releases/invesco-closed-end-funds-declare-dividends-301916043.htmlSOURCE Invesco Ltd.

PR Newswire

Invesco Closed-End Funds Declare Dividends

https://finance.yahoo.com/news/invesco-closed-end-funds-declare-161500291.html

c3aa53f8-2f86-37f2-b283-35a3e9f176c1

VOXR

All amounts in U.S. dollars unless otherwise indicated.TORONTO, ON / ACCESSWIRE / August 10, 2023 / Vox Royalty Corp. (TSX:VOXR)(NASDAQ:VOXR) ("Vox" or the "Company"), a returns focused mining royalty company, is pleased to announce its operating and financial results for the second quarter ended June 30, 2023.Kyle Floyd, Chief Executive Officer stated: "The past quarter saw the delivery of 25% revenue growth over the prior year period and considerable organic portfolio developments which are expected to underpin medium to long term revenue from incremental development stage royalties such as Mt Ida, Bowdens and Sulphur Springs. Numerous corporate milestones were achieved during the quarter: completing a public offering, graduating to the TSX from the TSX Venture Exchange and appointing Donovan Pollitt to the Board of Directors."Second Quarter 2023 HighlightsQ2 2023 revenue of $2,217,384 and record year-to-date revenue of $5,798,239 (compared to revenue of $1,750,754 and $3,221,773 for the three and six months ended June 30, 2022, respectively);Gross profit of $1,831,488 and $4,796,345 for the three and six months ended June 30, 2023 (compared to $1,444,878 and $2,609,171 for the three and six months ended June 30, 2022, respectively);Generated cash flows from operations of $1,069,791 and $1,569,808 for the three and six months ended June 30, 2023 (compared to negative cash flows from operations of $209,829 and $614,654 for the three and six months ended June 30, 2022, respectively);Strong balance sheet position at quarter end, including:Cash and accounts receivable of $13,824,960;Working capital of $11,465,973;Total assets of $47,945,297;Completed underwritten public offering on June 16, 2023, issuing 3,025,000 Vox common shares at a public offering price of $2.40 per share, for gross proceeds of $7,260,000;On April 18, 2023, the Company shared an inaugural letter to shareholders and appointed Donovan Pollitt to the Board of Directors;On May 29, 2023, the Company's common shares commenced trading on the Toronto Stock Exchange ("TSX");Significant organic development within the Company's existing royalty portfolio, including commissioning of the Mt Ida Gold Processing Plant in Western Australia by Aurenne Group Pty Ltd, final approval by the Independent Planning Commission of New South Wales to proceed with development and production of the Bowdens Silver Project, and a resource upgrade and release of an updated feasibility study for the Sulphur Springs copper-zinc project by Develop Global Limited; andSubsequent to June 30, 2023:In connection with the underwritten public offering that closed on June 16, 2023, the underwriters exercised their over-allotment option in full, purchasing an additional 453,750 Vox common shares for further gross proceeds of $1,089,000.Story continuesSummary of Quarterly ResultsThree monthsendedJune 30, 2023Three monthsendedJune 30, 2022Six monthsendedJune 30, 2023Six monthsendedJune 30, 2022$$$$Income StatementRevenue2,217,3841,750,7545,798,2393,221,773Gross profit1,831,4881,444,8784,796,3452,609,171Operating expenses(2,349,226)(1,476,025)(4,371,105)(2,928,686)Income (loss) from operations(517,738)(31,417)425,240(319,515)Other income(1)983,342945,236142,1871,097,058Current tax recovery (expense)25,951(57,155)(153,026)(253,863)Deferred tax expense(539,998)(424,365)(1,144,083)(331,503)Net income (loss) and comprehensive income (loss)(48,443)432,569(729,682)192,177Income (loss) per share - basic and diluted(0.00)0.01(0.02)0.00Statement of Cash FlowsCash flows from (used in) operating activities1,069,791(209,829)1,569,808(614,654)Dividends declared per share0.0110.000.0220.00Other income comprises fair value change of warrants, foreign exchange differences, interest income, and loss on investments.For complete details, please refer to the unaudited condensed interim consolidated financial statements and associated Management Discussion and Analysis for the three and six months ended June 30, 2023, available on SEDAR (www.sedar.com), EDGAR (www.sec.gov) or on Vox's website (www.voxroyalty.com).Quarterly DividendThe Company is also pleased to announce that its Board of Directors has approved a quarterly cash dividend of $0.011 per common share to be paid on October 13, 2023, to shareholders of record as of the close of business on September 29, 2023.For shareholders residing in Canada, the dividend will be paid in Canadian dollars based on the daily exchange rate published by the Bank of Canada on September 29, 2023. The dividend qualifies as an "eligible dividend" as defined in the Income Tax Act (Canada). The dividend is subject to customary Canadian withholding tax for shareholders that are not resident in Canada.About VoxVox is a returns focused mining royalty company with a portfolio of over 60 royalties and streams spanning seven jurisdictions. The Company was established in 2014 and has since built unique intellectual property, a technically focused transactional team and a global sourcing network which has allowed Vox to target the highest returns on royalty acquisitions in the mining royalty sector. Since the beginning of 2020, Vox has announced over 25 separate transactions to acquire over 50 royalties.Further information on Vox can be found at www.voxroyalty.com.For further information contact:Kyle FloydPascal AttardChief Executive OfficerChief Financial [email protected][email protected]+1-345-815-3939Cautionary Statements to U.S. SecurityholdersThe financial information included or incorporated by reference in this press release or the documents referenced herein has been prepared in accordance with International Financial Reporting Standards as issued by the International Accounting Standards Board, which differs from US generally accepted accounting principles ("US GAAP") in certain material respects, and thus are not directly comparable to financial statements prepared in accordance with US GAAP.Cautionary Note Regarding Forward-Looking Statements and Forward-Looking InformationThis press release contains "forward-looking statements", within the meaning of the U.S. Securities Act of 1933, as amended, the U.S. Securities Exchange Act of 1934, as amended, the Private Securities Litigation Reform Act of 1995 and "forward-looking information" within the meaning of applicable Canadian securities legislation. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as "expects" or "does not expect", "is expected", "anticipates" or "does not anticipate" "plans", "estimates" or "intends" or stating that certain actions, events or results " may", "could", "would", "might" or "will" be taken, occur or be achieved) are not statements of historical fact and may be "forward-looking statements." Forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to materially differ from those reflected in the forward-looking statements.The forward-looking statements and information in this press release include, but are not limited to, statements regarding the payment of a quarterly dividend in October 2023 and on any future date thereafter, expectations to realize revenue from development stage royalty assets, and potential updates regarding one or more acquisition transactions over the coming months..Forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to materially differ from those reflected in the forward-looking statements, including but not limited to: the impact of general business and economic conditions; the absence of control over mining operations from which Vox will purchase precious metals or from which it will receive royalty or stream payments, and risks related to those mining operations, including risks related to international operations, government and environmental regulation, delays in mine construction and operations, actual results of mining and current exploration activities, conclusions of economic evaluations and changes in project parameters as plans are refined; problems related to the ability to market precious metals or other metals; industry conditions, including commodity price fluctuations, interest and exchange rate fluctuations; interpretation by government entities of tax laws or the implementation of new tax laws; the volatility of the stock market; competition; risks related to Vox's dividend policy; epidemics, pandemics or other public health crises, including the global outbreak of the novel coronavirus, geopolitical events and other uncertainties, such as the conflict in Ukraine, as well as those factors discussed in the section entitled "Risk Factors" in Vox's annual information form for the financial year ended December 31, 2022 available at www.sedar.com and the SEC's website at www.sec.gov (as part of Vox's Form 40-F).Should one or more of these risks, uncertainties or other factors materialize, or should assumptions underlying the forward-looking information or statement prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Vox cautions that the foregoing list of material factors is not exhaustive. When relying on Vox's forward-looking statements and information to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and potential events.Vox has assumed that the material factors referred to in the previous paragraph will not cause such forward-looking statements and information to differ materially from actual results or events. However, the list of these factors is not exhaustive and is subject to change, and there can be no assurance that such assumptions will reflect the actual outcome of such items or factors. The forward-looking information contained in this press release represents the expectations of Vox as of the date of this press release and, accordingly, is subject to change after such date. Readers should not place undue importance on forward-looking information and should not rely upon this information as of any other date. While Vox may elect to, it does not undertake to update this information at any particular time except as required in accordance with applicable laws.None of the TSX, its Regulation Services Provider (as that term is defined in policies of the TSX) or The Nasdaq Stock Market LLC accepts responsibility for the adequacy or accuracy of this press release.Technical and Third-Party InformationExcept where otherwise stated, the disclosure in this press release is based on information publicly disclosed by project operators based on the information/data available in the public domain as at the date hereof and none of this information has been independently verified by Vox. Specifically, as a royalty investor, Vox has limited, if any, access to the royalty operations. Although Vox does not have any knowledge that such information may not be accurate, there can be no assurance that such information from the project operators is complete or accurate. Some information publicly reported by the project operators may relate to a larger property than the area covered by Vox's royalty interests. Vox's royalty interests often cover less than 100% and sometimes only a portion of the publicly reported mineral reserves, mineral resources and production of a property.SOURCE: Vox Royalty Corp.View source version on accesswire.com: https://www.accesswire.com/773672/Vox-Announces-Q2-2023-Financial-Results-and-Declares-Quarterly-Dividend

ACCESSWIRE

Vox Announces Q2 2023 Financial Results and Declares Quarterly Dividend

https://finance.yahoo.com/news/vox-announces-q2-2023-financial-003000866.html

b2158f48-48df-3a43-ad16-2df97692dd28

VOXR

TORONTO, ON / ACCESSWIRE / August 17, 2023 / Vox Royalty Corp. (TSX:VOXR)(NASDAQ:VOXR) ("Vox" or the "Company"), a returns focused mining royalty company, is pleased to provide recent development and exploration updates from royalty operating partners Genesis Minerals Limited (ASX:GMD) ("Genesis"), Alamos Gold Inc. (TSX:AGI) ("Alamos"), Black Cat Syndicate Ltd (ASX:BC8) ("Black Cat"), Northern Star Resources Limited (ASX:NST) ("Northern Star") and Strickland Metals Limited (ASX:STK) ("Strickland").Riaan Esterhuizen, EVP Australia stated: "We are very excited to share recent gold operator developments and initial royalty revenue from the Kookynie royalty, linked to the release of maiden reserves at the Puzzle North gold deposit. This initial royalty revenue of ~A$2M represents an approximate 15x return on the A$150k invested in the Kookynie (Consolidated Gold) royalty back in 2020, with further revenue expected post commencement of mining by Genesis. Further engineering study progress at Lynn Lake and Bulong continue to underpin Vox management confidence in medium-term growth prospects for our royalty portfolio."Key UpdatesGenesis released Pre-Feasibility Stage ("PFS") level assumptions and maiden reserves for the Puzzle Group gold deposits in Western Australia triggering maiden royalty revenue of approximately A$2M, to be recorded as Q3 2023 royalty revenue and payable within 45 days of quarter end;Alamos released an updated feasibility study on the Lynn Lake Gold Project in Manitoba, Canada;Black Cat released an updated engineering study for the Kal East Project which includes the Bulong gold royalty; andNorthern Star acquired the Millrose exploration-stage gold project from Strickland for A$67 million.Kookynie (Development - Western Australia) - Puzzle PFS Outcomes & Maiden Reserves(1)Vox holds an A$1/tonne production royalty(1) on part of the Kookynie gold project in Western Australia (which includes the Puzzle Group), of which, the Kookynie (Consolidated Gold) royalty was acquired in 2020 for less than A$150,000 as part of a larger royalty portfolio acquisition;On July 3, 2023, Genesis announced that:Maiden Probable Reserves(2) for the Puzzle Group declared of 2,700Kt @ 1.3g/t for 110,000oz at a gold price of A$2,300/ounce and cutoff grade of 0.7g/t; of which management anticipates approximately 2,100Kt are covered by the Kookynie (Consolidated Gold) royalty and 600Kt covered by the Kookynie (Melita) royalty;Puzzle Group resource estimate(2):A Mineral Resource update for the Puzzle and Puzzle North deposits (collectively referred to as the "Puzzle Group") has been completed to incorporate the results of the drilling program carried out by Genesis during 2021 and 2022, with Indicated Resources now at 6,700Kt @ 1.1g/t for 230,000oz gold and Inferred Resources at 2,000Kt @ 0.9 g/t for 57,000oz gold;The additional drilling and resource update has provided increased confidence in the grade and continuity of the extremities of the Puzzle mineralisation and defined the limits of mineralisation at Puzzle North;Open pit mining was carried out at Puzzle between 1995 and 1997 by previous operators. Production of 500,000t at 2.0g/t Au (31,000 oz) was reported. No previous mining has occurred at Puzzle North which was discovered by Genesis in 2021; andMetallurgical Assumptions:Metallurgical test work has been carried out as part of the Pre-Feasibility Study at the Puzzle Group, confirming that the ore is amenable to conventional cyanide leaching. Ongoing test work by Genesis has confirmed gold recoveries from primary ore to be ~90% to 95%.Vox Management Summary: We are excited to share this Puzzle North maiden reserves milestone that triggers initial royalty revenue of ~A$2M for Q3 2023 at the Kookynie (Consolidated Gold) royalty. Given the Kookynie (Consolidated Gold) royalty purchase price of less than A$150k in 2020, this initial royalty revenue represents an approximate ~15x return with further revenue expected once the Puzzle Group deposits commence mining.Story continuesLynn Lake (Feasibility - Manitoba, Canada) - Optimized Feasibility Study(3) releasedVox holds a 2% gross revenue royalty (post initial capital recovery) on part of the MacLellan deposit at the Lynn Lake gold project;On August 2, 2023, Alamos announced the following outcomes of an optimized feasibility study at Lynn Lake:Higher production: Average annual gold production of 207,000 ounces over the first five years and 176,000 ounces over the initial 10 years. The 10-year average represents a 23% increase over the annual average of 143,000 ounces in the 2017 Study;Low-cost profile: Average mine-site all-in sustaining costs of $699/oz over the first 10-years and $814 per ounce over the life of mine. Average mine-site all-in sustaining costs decreased 6% from the 2017 Lynn Lake Feasibility Study ("2017 Study") over the initial 10-years with economies of scale provided by the larger operation, and higher average grades, more than offsetting cost inflation;Longer proposed mine life: 17 year mine life, up from 10 years in the 2017 Study;Project de-risked given advanced level of engineering & approvals: Detailed engineering 55% complete; basic engineering 100% complete, EIS approval and Provincial licenses received in March 2023 with requirements outlined through the permitting process incorporated into the 2023 Study;Attractive economics with significant long-term exploration upside potential:After-tax NPV5 of C$428 million (base case gold price assumption of US$1,675 per ounce) with an after-tax internal rate of return ("IRR") of 17%; andAfter-tax NPV5 of C$670 million, and an after-tax IRR of 22%, at current gold prices of approximately US$1,950 per ounce.Vox Management Summary: The expanded 17-year mine life Lynn Lake feasibility study is fundamentally larger and more robust than the prior 2017 study, which included a proposed 10-year mine life. We look forward to further developments from Alamos as Vox anticipates further expansions to the Lynn Lake mineral resource and de-risking of the development profile.Bulong (Pre-Construction - Western Australia) - Kal East Study UpdateVox holds an uncapped 1% net smelter royalty over part of the Bulong gold project in Western Australia;On July 14th, 2023, Black Cat announced that:The board of Black Cat is pleased to present the outcomes of an update to the Kal East Gold Project ("Kal East") PFS, first released on 3 June 2022, to reflect current market conditions. Kal East has approvals in place and the primary processing facility equipment has already been acquired. Once constructed, the processing facility would have significant strategic value for Black Cat in the mill constrained area east of Kalgoorlie;Open pit mining is scheduled over 68 months, commencing at the Myhree (royalty-linked) and Boundary open pits, which form part of the Bulong Mining Centre;The Kal East Gold Project is fully approved to commence, with the mains power study completed and consideration of owner-operator underground mining; andA final investment decision for Kal East will occur when construction and accommodation conditions around Kalgoorlie improve.Vox Management Summary: We are pleased to note ongoing engineering activity at the Kal East / Bulong royalty project and look forward to Black Cat progressing the project to a final investment decision when construction and labour availability conditions improve.Millrose (Exploration - Australia) - Project Acquired by Northern Star Resources for A$67MVox holds a 1% net smelter return royalty over a portion of the Millrose Gold Project in Western Australia;On June 26th, 2023, Northern Star announced that:It has entered into agreements to purchase the advanced gold exploration asset, the Millrose Gold Project, from Strickland for A$67 million;Adjacent to Vox's royalty tenure (but not royalty linked), the Millrose Gold Project has a published Mineral Resource(4) of 4,300Kt @ 1.9g/t for 264,000oz gold Indicated and 1,700Kt @ 1.5g/t for 82,000oz gold Inferred; andCommenting on the acquisition, Northern Star Managing Director Stuart Tonkin said: "The acquisition of the Millrose Gold Project presents a very compelling development opportunity that is accretive to the Jundee life of asset plan as it should deliver us a sizeable low cost, high grade supplementary resource feed."Vox Management Summary: The Millrose gold royalty has all of the optionality and characteristics that Vox seeks in a gold royalty; a top global operator in Northern Star, a project located within 40km trucking distance of the Jundee gold operation and, based on management expectations, substantial discovery potential through proximity to and being along strike from the Millrose gold resource.Qualified PersonTimothy J. Strong, MIMMM, of Kangari Consulting LLC and a "Qualified Person" under NI 43-101, has reviewed and approved the scientific and technical disclosure contained in this press release.About VoxVox is a returns focused mining royalty company with a portfolio of 60 royalties and streams spanning eight jurisdictions. The Company was established in 2014 and has since built unique intellectual property, a technically focused transactional team and a global sourcing network which has allowed Vox to target the highest returns on royalty acquisitions in the mining royalty sector. Since the beginning of 2020, Vox has announced over 25 separate transactions to acquire over 50 royalties.Further information on Vox can be found at www.voxroyalty.com.For further information contact:Riaan EsterhuizenKyle FloydExecutive Vice President - AustraliaChief Executive [email protected][email protected]+1-345-815-3939Cautionary Statements to U.S. SecurityholdersThis press release and the documents incorporated by reference herein, as applicable, have been prepared in accordance with Canadian standards for the reporting of mineral resource and mineral reserve estimates, which differ from the previous and current standards of the U.S. securities laws. In particular, and without limiting the generality of the foregoing, the terms "mineral reserve", "proven mineral reserve", "probable mineral reserve", "inferred mineral resources", "indicated mineral resources", "measured mineral resources" and "mineral resources" used or referenced herein and the documents incorporated by reference herein, as applicable, are Canadian mineral disclosure terms as defined in accordance with NI 43-101 and the Canadian Institute of Mining, Metallurgy and Petroleum (the "CIM") - CIM Definition Standards on Mineral Resources and Mineral Reserves, adopted by the CIM Council, as amended (the "CIM Definition Standards"). In addition to NI 43-101, a number of resource and reserve estimates have been prepared in accordance with the JORC Code (as such term is defined in NI 43-101), which differ from the requirements of NI 43-101 and U.S. securities laws but is defined in NI 43-101 as an "acceptable foreign code". Readers are cautioned that a qualified person has not carried out independent work to validate the JORC Code resource and reserve estimates referenced herein.For U.S. reporting purposes, the U.S. Securities and Exchange Commission (the "SEC") has adopted amendments to its disclosure rules (the "SEC Modernization Rules") to modernize the mining property disclosure requirements for issuers whose securities are registered with the SEC under the U.S. Securities Exchange Act of 1934, as amended, which became effective February 25, 2019. The SEC Modernization Rules more closely align the SEC's disclosure requirements and policies for mining properties with current industry and global regulatory practices and standards, including NI 43-101, and replace the historical property disclosure requirements for mining registrants that were included in SEC Industry Guide 7. Issuers were required to comply with the SEC Modernization Rules in their first fiscal year beginning on or after January 1, 2021. As a foreign private issuer that is eligible to file reports with the SEC pursuant to the multi-jurisdictional disclosure system, the Company is not required to provide disclosure on its mineral properties under the SEC Modernization Rules and will continue to provide disclosure under NI 43-101 and the CIM Definition Standards. Accordingly, mineral reserve and mineral resource information contained or incorporated by reference herein may not be comparable to similar information disclosed by companies domiciled in the U.S. subject to U.S. federal securities laws and the rules and regulations thereunder.As a result of the adoption of the SEC Modernization Rules, the SEC now recognizes estimates of "measured mineral resources", "indicated mineral resources" and "inferred mineral resources." In addition, the SEC has amended its definitions of "proven mineral reserves" and "probable mineral reserves" to be "substantially similar" to the corresponding CIM Definition Standards that are required under NI 43-101. While the SEC will now recognize "measured mineral resources", "indicated mineral resources" and "inferred mineral resources", U.S. investors should not assume that all or any part of the mineralization in these categories will be converted into a higher category of mineral resources or into mineral reserves without further work and analysis. Mineralization described using these terms has a greater amount of uncertainty as to its existence and feasibility than mineralization that has been characterized as reserves. Accordingly, U.S. investors are cautioned not to assume that all or any measured mineral resources, indicated mineral resources, or inferred mineral resources that the Company reports are or will be economically or legally mineable without further work and analysis. Further, "inferred mineral resources" have a greater amount of uncertainty and as to whether they can be mined legally or economically. Therefore, U.S. investors are also cautioned not to assume that all or any part of inferred mineral resources will be upgraded to a higher category without further work and analysis. Under Canadian securities laws, estimates of "inferred mineral resources" may not form the basis of feasibility or pre-feasibility studies, except in rare cases. While the above terms are "substantially similar" to CIM Definitions, there are differences in the definitions under the SEC Modernization Rules and the CIM Definition Standards. Accordingly, there is no assurance any mineral reserves or mineral resources that the Company may report as "proven mineral reserves", "probable mineral reserves", "measured mineral resources", "indicated mineral resources" and "inferred mineral resources" under NI 43-101 would be the same had the Company prepared the reserve or resource estimates under the standards adopted under the SEC Modernization Rules or under the prior standards of SEC Industry Guide 7.Cautionary Note Regarding Forward-Looking Statements and Forward-Looking InformationThis press release contains "forward-looking statements", within the meaning of the U.S. Securities Act of 1933, as amended, the U.S. Securities Exchange Act of 1934, as amended, the Private Securities Litigation Reform Act of 1995 and "forward-looking information" within the meaning of applicable Canadian securities legislation. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as "expects" or "does not expect", "is expected", "anticipates" or "does not anticipate" "plans", "estimates" or "intends" or stating that certain actions, events or results " may", "could", "would", "might" or "will" be taken, occur or be achieved) are not statements of historical fact and may be "forward-looking statements". Forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to materially differ from those reflected in the forward-looking statements.The forward-looking statements and information in this press release include, but are not limited to, summaries of operator updates provided by management and the potential impact on the Company of such operator updates, statements regarding expectations for the timing of commencement of development, construction at and/or resource production from various mining projects, expectations regarding the size, quality and exploitability of the resources at various mining projects, future operations and work programs of Vox's mining operator partners, the receipt of expected and potential royalty payments derived from various royalty assets of Vox, anticipated future cash flows and future financial reporting by Vox, and requirements for and operator ability to receive regulatory approvals.Forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to materially differ from those reflected in the forward-looking statements, including but not limited to: the impact of general business and economic conditions; the absence of control over mining operations from which Vox will purchase precious metals or from which it will receive royalty or stream payments, and risks related to those mining operations, including risks related to international operations, government and environmental regulation, delays in mine construction and operations, actual results of mining and current exploration activities, conclusions of economic evaluations and changes in project parameters as plans are refined; problems related to the ability to market precious metals or other metals; industry conditions, including commodity price fluctuations, interest and exchange rate fluctuations; interpretation by government entities of tax laws or the implementation of new tax laws; the volatility of the stock market; competition; risks related to Vox's dividend policy; epidemics, pandemics or other public health crises, including the global outbreak of the novel coronavirus, geopolitical events and other uncertainties, such as the conflict in Ukraine, as well as those factors discussed in the section entitled "Risk Factors" in Vox's annual information form for the financial year ended December 31, 2022 available at www.sedar.com and the SEC's website at www.sec.gov (as part of Vox's Form 40-F).Should one or more of these risks, uncertainties or other factors materialize, or should assumptions underlying the forward-looking information or statement prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Vox cautions that the foregoing list of material factors is not exhaustive. When relying on the Company's forward-looking statements and information to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and potential events.Vox has assumed that the material factors referred to in the previous paragraph will not cause such forward looking statements and information to differ materially from actual results or events. However, the list of these factors is not exhaustive and is subject to change and there can be no assurance that such assumptions will reflect the actual outcome of such items or factors. The forward-looking information contained in this press release represents the expectations of Vox as of the date of this press release and, accordingly, is subject to change after such date. Readers should not place undue importance on forward looking information and should not rely upon this information as of any other date. While Vox may elect to, it does not undertake to update this information at any particular time except as required in accordance with applicable laws.None of the TSX, its Regulation Services Provider (as that term is defined in policies of the TSX) or The Nasdaq Stock Market LLC accepts responsibility for the adequacy or accuracy of this press release.Technical and Third-Party InformationExcept where otherwise stated, the disclosure in this press release is based on information publicly disclosed by project operators based on the information/data available in the public domain as at the date hereof and none of this information has been independently verified by Vox. Specifically, as a royalty investor, Vox has limited, if any, access to the royalty operations. Although Vox does not have any knowledge that such information may not be accurate, there can be no assurance that such information from the project operators is complete or accurate. Some information publicly reported by the project operators may relate to a larger property than the area covered by Vox's royalty interests. Vox's royalty interests often cover less than 100% and sometimes only a portion of the publicly reported mineral reserves, mineral resources and production from a property.References & Notes:(1) Kookynie Royalty is split in two separate terms:Kookynie (Melita) Royalty - which covers the Puzzle Deposit: A$1.00/t production royalty >650Kt cumulative ore mined and treated.Kookynie (Consolidated Gold) Royalty - which covers the Puzzle North Discovery: A$1.00/t above >100Kt reserve tonnes (for each Ore Reserve with a gold grade <= 5g/t Au), for grades > 5g/t Au royalty = ((Ore grade per Tonne - 5) x 0.5)+1) and A$1.00/t production royalty beyond reserves.(2) Puzzle Mineral Resources and Mineral Reserves sourced from Genesis Minerals Limited announcement titled "Completion of the Leonora acquisition elevates Genesis to a leading Australian gold house" dated 3 July 2023.The information in this press release that relates to Mineral Resources at the Puzzle Deposits are based on information, and fairly represents, information and supporting documentation compiled by Mr. David Price who is a Member of the Australasian Institute of Mining and Metallurgy. David Price is a contract employee of Genesis Minerals Limited and has sufficient experience relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the "Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves".The information in this press release that relates to Ore Reserves at the Puzzle Deposits is based on information, and fairly represents, information and supporting documentation compiled by Mr. Christopher Burton who is a Member of the Australasian Institute of Mining and Metallurgy. Christopher Burton is a full-time employee of Genesis Minerals Limited and has sufficient experience relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the "Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves".Mineralisation at Puzzle and Puzzle North mineral resource estimate has been modelled to a depth of 150 meters below surface and the upper 50m of the Puzzle deposit has been largely mined. Mineralisation has been modelled using a 0.2g/t envelope and reported at a 0.5g/t cut-off for material above 280mRL (130m below surface). Material below the 280mRL has not been reported.The Puzzle Ore Reserves have been estimated using a AUD$2,300/oz gold price assumption. The Ore Reserve includes only Probable classifications. The economically mineable component of the Indicated Mineral Resource has been classified as a Probable Ore Reserve. All ore in the Ore Reserve estimate is classified as a Probable Ore Reserve. No Inferred Mineral Resources are included in the Ore Reserve. Puzzle Group mineral reserves Cut Off Grades were derived from cost estimates developed for the Pre-Feasibility Study. The cut-off grade used to define ore is the breakeven grade for variable processing and ore haulage costs and a share of the fixed costs for general and administration (G&A) through the Mt Morgans processing plant. A cut-off grade of 0.7g/t was selected for Puzzle Reserves based on these calculations.Link to the Genesis announcement here: https://genesisminerals.com.au/downloads/announcements/gmd2023070302.pdf(3) See Lynn Lake 2023 feasibility study results as detailed in press release dated Aug. 2, 2023 for more details: https://www.alamosgold.com/news-and-events/news/news-details/2023/Alamos-Gold-Announces-Updated-Feasibility-Study-for-the-Lynn-Lake-Project-Outlining-Larger-Longer-Life-Low-Cost-Operation-in-Canada-with-Attractive-Economics-and-Significant-Exploration-Upside/default.aspx(4) Millrose Gold Resource estimate sourced from Strickland Resources announcement titled "RESOURCE BASE INCREASED TO OVER 600,000 OZS GOLD ON YANDAL BELT" dated 23 June 2021.The information in press release that relates to Millrose Mineral Resources is based on information compiled or reviewed by Mr Peter Langworthy who is a consultant to Strickland Metals Limited and is a current Member of the Australian Institute of Mining and Metallurgy. Mr Peter Langworthy has sufficient experience, which is relevant to the style of mineralisation and types of deposit under consideration and to the activities undertaken, to qualify as a Competent Person as defined in the 2012 Edition of the "Australasian Code of Reporting of Exploration Results, Mineral Resources and Ore Reserves".Mineral Resources are based on JORC Code Definitions as defined by the Australasian Code for Reporting Results, Mineral Resources and Ore Reserves. All figures are rounded to reflect appropriate levels of confidence. Apparent differences may occur due to rounding.For the Millrose Resource Estimate a cut-off grade of 0.5g/t gold was applied. The Resource has been estimated using appropriate high-grade cuts, minimum mining widths and dilutions.For full detail of the Millrose Mineral Resource Estimate, refer to the JORC Table attached as Schedule 2 in the original announcement: https://yourir.info/resources/f6f8a94d05f2349b/announcements/stk.asx/6A1037808/STK_Millrose_Acquisition_to_increase_Resource_to_over_600_000oz.pdfSOURCE: Vox Royalty Corp.View source version on accesswire.com: https://www.accesswire.com/774683/Vox-Provides-Gold-Royalty-Portfolio-Development-Updates-and-Confirms-Initial-Royalty-Revenue-from-Kookynie

ACCESSWIRE

Vox Provides Gold Royalty Portfolio Development Updates and Confirms Initial Royalty Revenue from Kookynie

https://finance.yahoo.com/news/vox-provides-gold-royalty-portfolio-110000394.html

145796c4-025b-37d6-9ee6-d6bc5ecaa75f

VOYA

For Immediate ReleaseChicago, IL – September 1, 2023 – Today, Zacks Equity Research discusses of Manulife Financial Corp. MFC, Sun Life Financial Corp. SLF, Reinsurance Group of America, Inc. RGA, Voya Financial VOYA and Primerica PRI.Industry: Life InsuranceLink: https://www.zacks.com/commentary/2143095/5-stocks-to-watch-from-a-prospering-life-insurance-industryRedesigning and repricing of products and services to maintain sales and profitability have been driving Zacks Life Insurance industry players. Life insurers, being the direct beneficiaries of an improving rate environment, are poised to benefit. Increased automation is expected to drive premium growth and boost the efficiency of Manulife Financial Corp., Sun Life Financial Corp., Reinsurance Group of America, Inc., Voya Financial and Primerica. As life insurers invest a large portion of their premiums, they are poised to benefit from an improving rate environment.However, with accelerated digitalization, expenses are likely to increase.About the IndustryThe Zacks Life Insurance industry comprises companies that offer life insurance coverages and retirement benefits to individuals and groups. The products include annuities, whole and term life insurance, accidental death insurance, health insurance, Medicare supplements and long-term healthcare policies. Sales benefit from the increasing demand for protection products. The industry also includes companies providing wealth and asset management solutions.With a rise in the number of baby boomers, the demand for retirement benefits is increasing. Per a report by IBISWorld, the $1.1 trillion U.S. Life Insurance & Annuities Market is expected to grow 3.2% in 2023. Increased vaccinations and economic growth instill confidence. Rising mortality may impact the profitability of these life insurers. The industry has also been witnessing accelerated adoption of technology.3 Trends Shaping the Future of the Life Insurance IndustryA Rising Rate Environment: An improving interest rate environment benefits life insurers as their products and investments are rate sensitive. A favorable interest rate thus impacts life insurers' earnings, capital and reserves, liquidity and competitiveness positively. In times of persistently low interest rates, life insurers' income from investments becomes insufficient to meet the contractually guaranteed obligations of policyholders, which cannot be lowered.Story continuesThus, they direct their funds into alternative investments like private equity, hedge funds and real estate, among others, to counter the challenge. The Fed has already made four hikes in 2023, taking the tally to 11 since March 2022. Life insurers, being the direct beneficiaries of an improving rate environment, are poised to perform well. Depending on the overall economic condition, there could be two more hikes in 2023.Product Redesigning: Industry players are finding new solutions and ways to improve their sales and profitability. Insurers are refraining from selling long-duration term life insurance. Also, life insurers continue to roll out investment products that provide bundled covers of guaranteed retirement income, life and healthcare to cater to customers preferring policies with "living" benefits more than those with death benefits.Increased awareness following the pandemic continues to support the life insurance business. A compelling product portfolio will thus aid sales of life insurers. Per Deloitte Insights, life insurance premium is estimated to increase 1.9% in 2023. Per a report published in ReporterLinker, global life insurance gross written premium is expected to be $2.5 trillion by 2026.Increased Adoption of Technology:  The life insurance industry, which has so far been operating mostly manually, started witnessing accelerated adoption of technology in its operations due to the COVID-led disruption. Companies are now using electronic applications, e-signatures and electronic policy delivery. Carriers have started selling policies online that appeal to the tech-savvy population.At the same time, the use of real-time data is making premium calculation easier and reducing risk. Increased automation is expected to drive premium growth and boost efficiency. Moreover, accelerated digitization, as evident from the adoption of artificial intelligence, robotic process automation, cognitive intelligence and blockchain should help life insurers curb operational costs and aid margin expansion. Insurers are investing heavily in technological advancements to ensure efficiency and smooth functioning. At the same time, the players must shield themselves from falling prey to cyber threats.Zacks Industry Rank Indicates Bright ProspectsThe group's Zacks Industry Rank, which is basically the average of the Zacks Rank of all the member stocks, indicates strong prospects for the near term.The Zacks Life Insurance industry, within the broader Zacks Finance sector, currently carries a Zacks Industry Rank #66, which places it in the top 27% of the 255 Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperforms the bottom 50% by a factor of more than 2 to 1.The industry's positioning in the top 50% of the Zacks-ranked industries is the result of a positive earnings outlook for the constituent companies in aggregate. The industry's earnings estimate for 2023 has gone up 3.6% from November 2022 end.Before we present a few life insurance stocks that you may want to consider for your portfolio, let's take a look at the industry's recent stock-market performance and valuation picture.Industry Vs. Sector & S&P 500The Life Insurance industry has outperformed the Finance sector but underperformed the Zacks S&P 500 composite in the past year. The stocks in this industry have collectively gained 8.7% compared with the Finance sector's increase of 5.3% and the Zacks S&P 500 composite's increase of 13.8% in the said time frame.Life Insurance Industry's Current ValuationOn the basis of trailing 12-month price-to-book (P/B), which is commonly used for valuing insurance stocks, the industry is currently trading at 1.59X compared with the S&P 500's 5.84X and the sector's 3.2X.Over the past five years, the industry has traded as high as 1.59X, as low as 0.65X, and at the median of 1.31X.5 Life Insurers in FocusHere, we present one stock with a Zacks Rank #2 (Buy) and four with a Zacks Rank #3 (Hold).  You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.Primerica: This Duluth, GA-based second-largest issuer of term-life insurance coverage in North America aims to be a successful senior health business while continuing to enhance its shareholders' value. Strong demand for protection products drives sales growth and policy persistency benefits of this Zacks Rank #2 insurer. A strong business model makes Primerica well-poised to cater to the middle market's increased demand for financial security.The Zacks Consensus Estimate for PRI's 2024 earnings indicates a year-over-year increase of 11.2%. The consensus estimate for 2023 and 2024 has moved up 2% and 1.6%, respectively, in the past 30 days.Reinsurance Group of America: It is a leading global provider of traditional life and health reinsurance and financial solutions with operations in the United States, Latin America, Canada, Europe, the Middle East, Africa, Asia and Australia. This Zacks Rank #3 insurer is set to benefit from the changing life reinsurance pricing environment, expanding business in the pension risk transfer market and disciplined capital management.    The Zacks Consensus Estimate for Reinsurance Group's 2024 earnings indicates a year-over-year increase of 0.7%. The consensus estimate for 2023 and 2024 earnings has moved up 2.6% and 1.3%, respectively, in the past 30 days.  RGA delivered a four-quarter average earnings surprise of 30.05%.Manulife Financial: Headquartered in Toronto, Canada, this Zacks Rank #3 insurer is one of the three dominant life insurers within its domestic market and possesses rapidly growing operations in the United States and several Asian countries. A strong Asia business, expanding wealth and asset management business, investments to ramp up digital capabilities and solid capital position poised this life insurer well for growth. MFC estimates core EPS growth between 10% and 12% over the medium term.The Zacks Consensus Estimate for Manulife's 2024 earnings indicates a year-over-year increase of 8.9%.  The expected long-term earnings growth rate is pegged at 10%. MFC has a VGM Score of B.Sun Life Financial: This Zacks Rank #3 insurer is the third largest insurer in Canada. Focus on growth in Asia operations, expansion of its asset management businesses and strong financial position poise this life insurer well. Sun Life is improving its business mix and thus shifting its growth focus toward products that park lower capital and offer more predictable earnings.The Zacks Consensus Estimate for SLF's 2024 earnings indicates a year-over-year increase of 8.1%. Sun Life delivered an average earnings surprise of 7.08% in the trailing four quarters. The expected long-term earnings growth rate is pegged at 8%. SLF has a VGM Score of B.Voya Financial: This retirement, investment, and employee benefits company in the United States is poised to grow, given its focus on high-growth, high-return, capital-light businesses, solid market presence and cost savings. This Zacks Rank #3 insurer expects adjusted EPS growth of 12-17% through 2024.The Zacks Consensus Estimate for Voya Financial's 2023 and 2024 earnings indicates a year-over-year increase of 5.2% and 16.5%, respectively.  The consensus estimate for 2023 and 2024 earnings has moved up 1.7% and 0.2%, respectively, in the past 30 days.  VOYA delivered an average earnings surprise of 36.22% in the trailing four quarters. The expected long-term earnings growth rate is pegged at 14.9%.  VOYA has a VGM Score of B.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 reportManulife Financial Corp (MFC) : Free Stock Analysis ReportReinsurance Group of America, Incorporated (RGA) : Free Stock Analysis ReportPrimerica, Inc. (PRI) : Free Stock Analysis ReportSun Life Financial Inc. (SLF) : Free Stock Analysis ReportVoya Financial, Inc. (VOYA) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

Zacks Industry Outlook Highlights Manulife Financial, Sun Life Financial, Reinsurance Group of America, Voya Financial and Primerica

https://finance.yahoo.com/news/zacks-industry-outlook-highlights-manulife-130000599.html

1a21604a-bd14-3fc2-b98a-a70d4ebb6982

VOYA

NEW YORK, September 08, 2023--(BUSINESS WIRE)--Voya Financial, Inc. (NYSE: VOYA), announced today that it has been included in the Fortune Best Workplaces in Financial Services & Insurance™ 2023 list. This is Voya’s third time earning recognition on this prestigious list, coming in at 37th place.The Best Workplaces in Financial Services & Insurance award is based on analysis of survey responses from more than 191,000 employees from Great Place To Work Certified™ companies in the financial services and insurance industry. In that survey, 88% of Voya employees said that Voya is a great place to work.Other notable results from the survey include:95 percent of employees say they feel good about the ways Voya contributes to the community.93 percent of employees say that when you join Voya, you are made to feel welcome.92 percent of employees say management is honest and ethical in its business practices."Our people make Voya a truly different kind of company and this recognition is a testament of our strong culture that they bring to life every day," said Heather Lavallee, chief executive officer, Voya Financial. "The valuable input and feedback of our people positions us to best serve our clients, and we are committed to fostering an employee experience that makes everyone at Voya feel valued and cared for financially, physically and emotionally."The Best Workplaces in Financial Services & Insurance™ list is highly competitive. Great Place To Work®, the global authority on workplace culture, determines its lists using its proprietary For All™ Methodology to evaluate and certify thousands of organizations in America’s largest ongoing annual workforce study, based on over 1.3 million survey responses and data from companies representing more than 7.5 million employees this year alone.Survey responses reflect a comprehensive picture of the workplace experience. Honorees were selected based on their ability to offer positive outcomes for employees regardless of job role, race, gender, sexual orientation, work status, or other demographic identifier.Story continuesFor more information on the list, please visit https://www.greatplacetowork.com/best-workplaces/finance-insurance/2023.About Voya Financial®Voya Financial, Inc. (NYSE: VOYA), is a leading health, wealth and investment company with 7,200 employees who are focused on achieving Voya’s aspirational vision: Clearing your path to financial confidence and a more fulfilling life. Through products, solutions and technologies, Voya helps its 14.7 million individual, workplace and institutional clients become well planned, well invested and well protected. Benefitfocus, a Voya company, extends the reach of Voya’s workplace benefits and savings offerings by providing benefits administration capabilities to 16.5 million individual subscription employees across employer and health plan clients. Certified as a "Great Place to Work" by the Great Place to Work® Institute, Voya is purpose-driven and committed to conducting business in a way that is economically, ethically, socially and environmentally responsible. Voya has earned recognition as: one of the World’s Most Ethical Companies® by the Ethisphere Institute; a member of the Bloomberg Gender-Equality Index; and a "Best Place to Work for Disability Inclusion" on the Disability Equality Index. For more information, visit voya.com. Follow Voya Financial on Facebook, Instagram, and LinkedIn.About the Fortune Best Workplaces in Financial Services & Insurance ListGreat Place To Work® selected the 2023 Fortune Best Workplaces for Financial Services & Insurance by gathering and analyzing confidential survey responses from more than 191,000 employees from Great Place To Work Certified™ companies in the financial services and insurance industry. Company rankings are derived from 60 employee experience questions within the Great Place To Work Trust Index™ Survey. Great Place To Work® determines its lists using its proprietary For All Methodology to evaluate and certify thousands of organizations in America’s largest ongoing annual workforce study. In the last year, 1.3 million survey responses were received, representing the work experiences of more than 7.5 million employees. Read the full methodology.About Great Place To Work®As the global authority on workplace culture, Great Place To Work® brings 30 years of groundbreaking research and data to help every place become a great place to work for all. Its proprietary platform and For All™ Model helps companies evaluate the experience of every employee, with exemplary workplaces becoming Great Place To Work Certified™ or receiving recognition on a coveted Best Workplaces™ List.Follow Great Place To Work® on LinkedIn, Twitter, and Instagram or visit greatplacetowork.com and sign up for the newsletter to learn more.About FortuneThe Fortune mission is to change the world by making business better. We achieve that by providing trusted information, telling great stories, and building world-class communities. We measure performance by rigorous benchmarks. And we hold companies accountable. Our goal is to make Fortune a force for good through its second century and beyond. For more information, visit www.fortune.com.VOYA-CRView source version on businesswire.com: https://www.businesswire.com/news/home/20230908139728/en/ContactsMedia Contact: Isabela JacobsenVoya FinancialCell: [email protected]

Business Wire

Voya Financial Named to Fortune Best Workplaces in Financial Services & Insurance™ 2023 List

https://finance.yahoo.com/news/voya-financial-named-fortune-best-170000386.html

08f7e8bb-b971-33fe-acf2-e32732abc821

VRDN

- Reported positive topline data from proof-of-concept study of VRDN-001 in patients with chronic thyroid eye disease (TED) -- THRIVE Phase 3 trial in patients with active TED amended to reflect Viridian’s confidence in 5-infusion treatment regimen and key stakeholder feedback on evolving TED treatment paradigm –- THRIVE-2 Phase 3 trial in patients with chronic TED expected to start in the third quarter of 2023 –- Selection of lead subcutaneous (SC) program in TED planned for year-end 2023 -WALTHAM, Mass., August 08, 2023--(BUSINESS WIRE)--Viridian Therapeutics, Inc. (NASDAQ: VRDN), a biotechnology company focused on discovering and developing potential best-in-class medicines for serious and rare diseases, today announced financial results and provided a corporate update for the second quarter ended June 30, 2023."Last month, we established proof-of-concept for VRDN-001 in patients with chronic TED, marking an exciting milestone for the Company and building on the compelling data we previously reported in active TED. VRDN-001 demonstrated profound clinical activity in chronic TED patients after only two infusions, confirming this candidate’s ability to potentially be an effective therapy in active and chronic TED," said Scott Myers, President and CEO of Viridian Therapeutics. "We are also quickly advancing our potential first-in-class subcutaneous TED program and are proud to announce that our Phase 1 trial for VRDN-001 SC in healthy volunteers is fully enrolled. In addition, our Phase 1 trial for VRDN-003 SC has been initiated and is now enrolling healthy volunteers."Added Mr. Myers: "The significant strides we have made with our TED program this quarter lay the foundation for us to execute on all upcoming key milestones. We remain committed to initiating our Phase 3 THRIVE-2 trial of VRDN-001 in chronic TED patients during the third quarter – our second pivotal trial for this candidate – and selecting our lead subcutaneous program by year-end."Story continuesProgram highlightsThyroid eye disease (TED)Intravenous (IV) program: VRDN-001Viridian’s lead product candidate, VRDN-001, is a monoclonal antibody which acts as a full antagonist of insulin-like growth factor-1 receptor (IGF-1R). VRDN-001 is being evaluated in clinical trials for the treatment of active and chronic TED.Preliminary data from the ongoing Phase 1/2 trial of VRDN-001 demonstrated clinically meaningful and rapid improvement in signs and symptoms of chronic TED at week 6 after receiving two infusions of VRDN-001 10 mg/kg or 3 mg/kg. VRDN-001 was generally well tolerated in both dose cohorts.The THRIVE Phase 3 trial evaluating the efficacy and safety of VRDN-001 in patients with active TED was amended to include the VRDN-001 5-infusion treatment regimen and placebo arms only with the primary endpoint assessment at week 15. Topline results from the THRIVE Phase 3 trial are expected in the middle of 2024.Initiation of the THRIVE-2 Phase 3 trial evaluating the efficacy and safety of VRDN-001 in patients with chronic TED is planned for the third quarter of 2023, with topline results expected by year-end 2024.Subcutaneous (SC) programs: VRDN-001, VRDN-002, and VRDN-003The Company is advancing VRDN-001, VRDN-002, and VRDN-003 as SC program candidates, each with the potential to be developed into a convenient, SC, self-administered pen device.The VRDN-001 SC Phase 1 trial in healthy volunteers was initiated and is fully enrolled.Viridian recently initiated the Phase 1 trial in healthy volunteers evaluating IV and SC cohorts of VRDN-003.Viridian expects the initiation of a SC pen device supply agreement with an experienced drug delivery device manufacturer in the second half of 2023.The Company expects topline results from its Phase 1 trials, evaluating VRDN-001 and VRDN-003 SC in healthy volunteers, in the fourth quarter of 2023.Viridian plans to select its lead SC program based on the preclinical and clinical data available across all three programs by year-end 2023, and plans to advance the selected SC program into a pivotal trial in the middle of 2024.Preclinical programs in autoimmune and rare diseaseVRDN-004, VRDN-005, and VRDN-006Viridian is developing multiple preclinical assets in rare and autoimmune diseases. The Company plans to announce additional information on at least one of these programs in 2023.Financial resultsCash Position: Cash, cash equivalents, and short-term investments were $334.3 million as of June 30, 2023, compared with $373.9 million as of March 31, 2023. The Company believes that its current cash, cash equivalents, and short-term investments will be sufficient to fund its operations into the second half of 2025.R&D Expenses: Research and development expenses were $40.1 million during the second quarter of 2023, compared with $21.7 million for the same period last year. Research and development expenses for the second quarter of 2023 include costs related to manufacturing costs for various programs as well as costs related to ongoing clinical trials. Other drivers for the increase in research and development expenses include: personnel-related costs (including share-based compensation) and license costs.G&A Expenses: General and administrative expenses were $19.3 million during the second quarter of 2023, compared with $8.1 million for the same period last year. The increase in general and administrative expenses was driven by personnel-related costs including share-based compensation, as well as market research, accounting and other professional fees.Net Loss: The Company’s net loss was $55.1 million for the second quarter of 2023, compared with $29.5 million for the same period last year. The increase in net loss was driven by the increase in operating expenses described above.Shares outstanding: As of August 1, 2023, Viridian had approximately 43,631,098 shares of common stock outstanding on an as-converted basis, which included 58,541,509 shares of common stock and an aggregate of approximately 14,910,411 shares of common stock issuable upon the conversion of 172,435 and 51,210 shares of Series A and Series B preferred stock, respectively.Conference call and webcastAs noted on the Company’s VRDN-001 Phase 1/2 data call in July, the Company will not be hosting a conference call to discuss its second quarter financial results. The Company will resume hosting a regular quarterly earnings call in November for its third quarter 2023 financial results.About Viridian TherapeuticsViridian Therapeutics is a biopharmaceutical company focused on engineering and developing potential best-in-class medicines for patients with serious and rare diseases. Viridian’s expertise in antibody discovery and engineering enables it to develop differentiated therapeutic candidates for previously validated drug targets in commercially established disease areas.Viridian is advancing multiple candidates in the clinic for the treatment of patients with thyroid eye disease (TED). The Company is conducting its first global Phase 3 trial called ‘THRIVE’ to evaluate the safety and efficacy of VRDN-001 in patients with active TED. Viridian is also planning a second Phase 3 trial, called THRIVE-2, to evaluate the safety and efficacy of VRDN-001 in patients with chronic TED. In addition to its program for intravenously administered VRDN-001, the Company is advancing three candidates for its subcutaneous strategy with the goal of providing a more conveniently administered therapy to patients with TED. Viridian is also developing multiple preclinical assets in autoimmune and rare diseases.Viridian is based in Waltham, Massachusetts. For more information, please visit www.viridiantherapeutics.com. Follow Viridian on LinkedIn and Twitter.Note regarding forward-looking statementsThis press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements may be identified by the use of words such as, but not limited to, "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "may," "might," "plan," "potential," "predict," "project," "should," "target," "will," or "would" or other similar terms or expressions that concern our expectations, plans and intentions. Forward-looking statements include, without limitation, statements regarding our expectations, strategies, plans and intentions. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based on our current beliefs, expectations, and assumptions. New risks and uncertainties may emerge from time to time, and it is not possible to predict all risks and uncertainties. No representations or warranties (expressed or implied) are made about the accuracy of any such forward-looking statements. Such forward-looking statements are subject to a number of material risks and uncertainties including but not limited to: the potential efficacy and safety of VRDN-001, VRDN-002, and VRDN-003 for the treatment of Thyroid Eye Disease (TED), the relationship between the results from the positive data from the ongoing Phase 1/2 clinical trial of VRDN-001 in patients with chronic TED and the results of ongoing or future clinical trials; the timing, progress and plans for our ongoing or future research, pre-clinical and clinical development programs; trial protocols for ongoing clinical trials; expectations regarding the timing for data; uncertainty and potential delays related to clinical drug development; the duration and impact of regulatory delays in our clinical programs; the timing of and our ability to obtain and maintain regulatory approvals for our therapeutic candidates, including VRDN-001, VRDN-002, and VRDN-003; manufacturing risks; our ability to develop a subcutaneous formulation (SC); our plan regarding a lead SC program candidate; our expectations regarding a pen device supply partnership; competition from other therapies or products; other matters that could affect the sufficiency of existing cash, cash equivalents and short-term investments to fund operations; our financial position and its projected cash runway; our future operating results and financial performance; the clinical utility of our therapeutic candidates and our intellectual property position; the timing of pre-clinical and clinical trial activities and reporting results from same, including those risks set forth under the caption "Risk Factors" in our Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission (SEC) on May 10, 2023 and other subsequent disclosure documents filed with the SEC. Any forward-looking statement speaks only as of the date on which it was made. Neither the Company, nor its affiliates, advisors, or representatives, undertake any obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by law. These forward-looking statements should not be relied upon as representing the Company’s views as of any date subsequent to the date hereof.CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS(amounts in thousands, except share and per share data)(unaudited)Three Months Ended June 30,Six Months Ended June 30,2023202220232022Revenue:Collaboration Revenue - related party$72$256$170$472Total revenue72256170472Operating Expenses:Research and development40,08321,71290,82339,458General and administrative19,2648,10841,09516,467Total operating expenses59,34729,820131,91855,925Loss from operations(59,275)(29,564)(131,748)(55,453)Other incomeInterest and other income4,3782278,865423Interest expense(166)(154)(331)(154)Net loss(55,063)(29,491)(123,214)(55,184)Change in unrealized loss on investments1(142)217(920)Comprehensive loss$(55,062)$(29,633)$(122,997)$(56,104)Net loss$(55,063)$(29,491)$(123,214)$(55,184)Net loss per share, basic and diluted$(1.27)$(1.06)$(2.88)$(2.05)Weighted-average shares used to compute basic and diluted loss per share43,253,45727,762,25742,753,47626,948,692Viridian Therapeutics, Inc.Selected Financial InformationCondensed Consolidated Balance Sheets(amounts in thousands)(unaudited)June 30,December 31,20232022Cash, cash equivalents and short-term investments$334,291$424,550Other assets17,17610,541Total assets$351,467$435,091Total liabilities35,61040,027Total stockholders’ equity315,857395,064Total liabilities and stockholders’ equity$351,467$435,091View source version on businesswire.com: https://www.businesswire.com/news/home/20230808571508/en/ContactsInvestors:Louisa Stone, 617-272-4604Manager, Investor [email protected] James, 617-272-4691Senior Vice President, Corporate Affairs and Investor [email protected]:Matt Fearer, 617-272-4605Vice President, Corporate [email protected]

Business Wire

Viridian Therapeutics Reports Second Quarter 2023 Financial Results and Provides Corporate Update

https://finance.yahoo.com/news/viridian-therapeutics-reports-second-quarter-200100968.html

d5485d88-0d17-3542-8ee5-294167631f48

VRDN

- Presentations to cover clinical and preclinical data on pipeline candidates in Company’s thyroid eye disease program, including lead candidate VRDN-001 -WALTHAM, Mass., September 07, 2023--(BUSINESS WIRE)--Viridian Therapeutics, Inc. (NASDAQ: VRDN), a biopharmaceutical company focused on discovering and developing potential best-in-class medicines for serious and rare diseases, today announced that multiple abstracts featuring clinical and preclinical data on the Company’s pipeline candidates for the treatment of thyroid eye disease (TED) will be presented at the following medical meetings:The 45th Annual Meeting of the European Thyroid Association (ETA) to be held September 9-12, 2023, in Milan, ItalyThe 41st Annual Meeting of the European Society of Ophthalmic Plastic and Reconstructive Surgery (ESOPRS) to be held September 14-16, 2023, in Naples, ItalyThe Annual Meeting of the American Thyroid Association (ATA) to be held September 27-October 1, 2023, in Washington, DCPresentations at all three conferences will highlight clinical and pharmacologic data from studies of VRDN-001, a full antagonist antibody to the insulin-like growth factor-1 receptor (IGF-1R), in development for TED. An additional presentation will feature pharmacokinetic data for VRDN-003, a next-generation, half-life extended antibody to IGF-1R for TED. The Company will also present clinical pharmacodynamic responses to VRDN-001 in healthy volunteers and patients with active TED.Conference: ETATitle:VRDN-001, a Full Antagonist Antibody to IGF-1 Receptor: In Vitro Pharmacology and Phase 1/2 Results in Patients with Thyroid Eye DiseaseSession:Oral Session 9—Thyroid Eye DiseaseInformation:Monday, September 11, 2023, 2:40 to 2:52 pm CETTitle:Preclinical Pharmacokinetics and Clinical Exposure Prediction for VRDN-003, a Next-Generation Half-life Extended Antibody to IGF-1R for Thyroid Eye DiseaseSession:Oral Session 9—Thyroid Eye DiseaseInformation:Monday, September 11, 2023, 2:52 to 3:04 pm CETConference: ESOPRSTitle:In Vitro Pharmacology and Phase 1/2 Results of VRDN-001, a Full Antagonist Antibody to IGF-1 Receptor for Thyroid Eye DiseaseSession:Oral Communications: OrbitInformation:Friday, September 15, 2023, 2:20 to 2:25 pm CETTitle:VRDN-001, a Full Antagonist Antibody to IGF-1R: Proof-of-Concept Results in Chronic TEDSession:Oral Communications: Orbit/SocketInformation:Saturday, September 16, 2023, 9:35 to 9:40 am CETConference: ATATitle:In Vitro Pharmacology and Phase 1/2 Results of VRDN-001, a Full Antagonist Antibody to IGF-1 Receptor for Thyroid Eye DiseaseSession:Oral Abstracts Session 3: Effects and Treatment of Autoimmune TEDInformation:Thursday, September 28, 2023, 1:50 to 2:50 pm EDTTitle:Pharmacodynamic Responses to VRDN-001, a Full Antagonist Antibody to IGF-1 Receptor in Development for Thyroid Eye Disease (TED) in Healthy Volunteers and Patients with Active TEDSession:Poster ReviewInformation:Thursday, September 28, 2023, 10:30 am to 6:00 pm EDTFollowing their respective presentations, the above abstracts will be posted at www.viridiantherapeutics.com/pipeline/scientific-presentations.Story continuesAbout Viridian’s Thyroid Eye Disease Pipeline (VRDN-001, -002, and -003)Viridian’s lead product candidate, VRDN-001, is a differentiated monoclonal antibody targeting insulin-like growth factor-1 receptor (IGF-1R), a clinically and commercially validated target for the treatment of thyroid eye disease (TED). In preclinical studies, VRDN-001 was shown to be a full antagonist of IGF-1R, with more complete receptor blockade than other anti-IGF-1R antibodies, including the only currently approved TED therapy. Data from the Phase 2 portion of the ongoing trial established clinical proof-of-concept for VRDN-001 in patients with active and chronic TED. VRDN-001 was generally well tolerated in the trial. The THRIVE Phase 3 trial in patients with active TED is ongoing. The Company is currently planning to start its second Phase 3 trial, called THRIVE-2, in patients with chronic TED.The Company is also advancing three candidates (VRDN-001, VRDN-002, and VRDN-003 subcutaneous (SC)) designed for administration as convenient, low-volume, SC injections for the treatment of TED.Viridian’s goal is to potentially bring a best-in-class intravenous therapy followed by a first- and best-in-class SC therapy to the market for the treatment of the TED.VRDN-001, -002, and -003 are investigational therapies that are not approved for any use in any country.About TEDTED is a serious and debilitating rare autoimmune disease that causes inflammation within the orbit of the eye that can cause double vision, pain, and potential blindness. TED is a progressive disease consisting of an initial active phase, followed by a transition to a secondary chronic phase. More than 50,000 and 200,000 people are estimated to suffer from active and chronic TED, respectively, in the United States and Europe.About Viridian TherapeuticsViridian Therapeutics is a biopharmaceutical company focused on engineering and developing potential best-in-class medicines for patients with serious and rare diseases. Viridian’s expertise in antibody discovery and engineering enables it to develop differentiated therapeutic candidates for previously validated drug targets in commercially established disease areas.Viridian is advancing multiple candidates in the clinic for the treatment of patients with thyroid eye disease (TED). The Company is conducting its first global Phase 3 trial called THRIVE to evaluate the safety and efficacy of VRDN-001 in patients with active TED. Viridian is also planning a second Phase 3 trial, called THRIVE-2, to evaluate the safety and efficacy of VRDN-001 in patients with chronic TED. In addition to its program for intravenously administered VRDN-001, the Company is advancing three candidates for its subcutaneous strategy with the goal of providing a more conveniently administered therapy to patients with TED. Viridian is also developing multiple preclinical assets in autoimmune and rare diseases.Viridian is based in Waltham, Massachusetts. For more information, please visit www.viridiantherapeutics.com. Follow Viridian on LinkedIn and Twitter.Note Regarding Forward-Looking StatementsThis press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements may be identified by the use of words such as, but not limited to, "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "may," "might," "plan," "potential," "predict," "project," "should," "target," "will," or "would" or other similar terms or expressions that concern our expectations, plans and intentions. Forward-looking statements include, without limitation, statements regarding our expectations, strategies, plans and intentions. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based on our current beliefs, expectations, and assumptions. New risks and uncertainties may emerge from time to time, and it is not possible to predict all risks and uncertainties. No representations or warranties (expressed or implied) are made about the accuracy of any such forward-looking statements. Such forward-looking statements are subject to a number of material risks and uncertainties including but not limited to: the potential efficacy and safety of VRDN-001, VRDN-002, and VRDN-003 for the treatment of Thyroid Eye Disease (TED), the results of ongoing or future clinical trials; the timing, progress and plans for our ongoing or future research, pre-clinical and clinical development programs; including the clinical trials for VRDN-001, VRDN-002, and VRDN-003 and other risks and uncertainties, including those risks set forth under the caption "Risk Factors" in our Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission (SEC) on August 8, 2023 and other subsequent disclosure documents filed with the SEC. Any forward-looking statement speaks only as of the date on which it was made. Neither the Company, nor its affiliates, advisors, or representatives, undertake any obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by law. These forward-looking statements should not be relied upon as representing the Company’s views as of any date subsequent to the date hereof.View source version on businesswire.com: https://www.businesswire.com/news/home/20230907907028/en/ContactsInvestors:Louisa Stone, 508-808-2400Manager, Investor [email protected]:Matt Fearer, 617-272-4605Vice President, Corporate [email protected]

Business Wire

Viridian Therapeutics Announces Presentations at Multiple Medical Meetings in September

https://finance.yahoo.com/news/viridian-therapeutics-announces-presentations-multiple-120000936.html

24341aeb-c054-36a9-babd-f6c2c70777ca

VREX

ParticipantsChristopher John Belfiore; Director of IR; Varex Imaging CorporationShubham Maheshwari; CFO & Principal Accounting Officer; Varex Imaging CorporationSunny S. Sanyal; President, CEO & Director; Varex Imaging CorporationAnthony Charles Petrone; MD & Senior Medical Devices, Diagnostics and Therapeutics Equity Research Analyst; Mizuho Securities USA LLC, Research DivisionJames Philip Sidoti; Research Analyst; Sidoti & Company, LLCLawrence Scott Solow; MD of Research; CJS Securities, Inc.Suraj Kalia; MD & Senior Analyst; Oppenheimer & Co. Inc., Research DivisionXuyang Li; Equity Analyst; Jefferies LLC, Research DivisionPresentationOperatorGreetings. Welcome to the Varex Third Quarter Full Year 2023 Earnings Call. (Operator Instructions) Please note, this conference is being recorded. I will now turn the conference over to your host, Christopher Belfiore. You may begin.Christopher John BelfioreGood afternoon, and welcome to Varex Imaging Corporation's Earnings Conference Call for the Third Quarter of Fiscal Year 2023. With me today are Sunny Sanyal, our President and CEO; and Sam Maheshwari, our CFO. Please note that the live webcast of this conference call includes a supplemental slide presentation that can be accessed at Varex's website at vareximaging.com. The webcast and supplemental slide presentation will be archived on Varex's website. To simplify our discussion, unless otherwise stated, all references to the quarter are for the third quarter of fiscal year 2023. In addition, unless otherwise stated, quarterly comparisons are made sequentially from the third quarter of fiscal year 2023 to the second quarter of fiscal year 2023. Finally, all references to the year are to the fiscal year and not calendar year unless otherwise stated. Please be advised that during this call, we will be making forward-looking statements, which are predictions and projections about future events. These statements are based on current expectations and assumptions that are subject to risks and uncertainties that could cause actual results to differ materially from those anticipated. Risks relating to our business are described in our quarterly earnings release and our filings with the SEC. Additional information concerning factors that could cause actual results to materially differ from those anticipated is contained in our SEC filings, including Item 1A, Risk Factors of our quarterly reports on Form 10-Q and our annual report on Form 10-K. The information in this discussion speaks as of today's date, and we assume no obligation to update or revise the forward-looking statements in this discussion. On today's call, we will discuss certain non-GAAP financial measures. These non-GAAP measures are not presented in accordance with, nor are they a substitute for GAAP financial measures. We provided a reconciliation of each non-GAAP financial measure to the most directly comparable GAAP financial measures in our earnings press release, which is posted on our website. I will now turn the call over to Sunny.Story continuesSunny S. SanyalThank you, Chris, and good afternoon, everyone. I'm pleased to report another solid quarter for Varex. Revenue of $232 million in the third quarter of fiscal 2023 is a new quarterly record for us. Non-GAAP gross margin of 34% exceeded our expectations and non-GAAP earnings per share of $0.37 was at the high end of our guidance. These results were helped by continued strength in our industrial business. In addition, we increased cash by $30 million in the quarter, primarily driven by diligent inventory management and increased profitability. Revenue in the third quarter was up 2% sequentially and 8% year-over-year. Revenue in the Medical segment increased 1% sequentially and 5% year-over-year, while Industrial revenue increased 5% sequentially and 20% year-over-year. Non-GAAP gross margin in the third quarter was 34%, which was better than our expectations and up 100 basis points compared to the second quarter. This was primarily due to the higher portion of industrial sales. Adjusted EBITDA in the third quarter was $38 million and non-GAAP EPS was $0.37. We ended the third quarter with $152 million of cash, cash equivalents and marketable securities on the balance sheet, up $30 million from $122 million in the prior quarter. This was primarily due to higher profitability and $13 million reduction in inventory in the quarter. Let me give you some insights into sales detailed by modality in the quarter compared to a 5-quarter average, which we will refer to as sales trend. In our Medical segment, global sales of CT tubes was solid in the quarter and remains above its sales trend. Our fluoroscopy and oncology modalities improved in the quarter, but were flat compared to their respective sales trends. Mammography was solid in the quarter and above its sales trend. Dental which can be lumpy from quarter-to-quarter, remained down in the third quarter, but is trending in a more positive direction and radiographic continues to grow above its sales trend. Global sales of our industrial products were robust for the second straight quarter, and order intake remained solid. The continued strength was primarily in our nondestructive inspection business across various applications, including cargo screening and oil and gas. We also saw increased adoption of our photon counting technology with growth in food, battery and electronics inspection in the quarter. Taking a step back from the quarter, I'd like to provide a brief update on some of our products we introduced over the last year. Our Dynamic Detector platform, Azure continues to make solid progress with our customers who are integrating these detectors into various systems, including those for cardiovascular and surgery applications. The Azure platform is a cost-effective performance dynamic detector technology aimed at enabling us to secure design wins for dynamic applications. These detectors are targeted at expanding our applications footprint in our new and existing customers. It offers high resolution and high performance at lower x-ray dose than it's amorphous silicon equivalent and is a cost-effective alternative to CMOS detectors which become expensive at larger sizes. We expect to see continued adoption of Azure and expect that many new system launches by our customers in the coming years will design in our Azure detectors. Since its launch in 2022, we have seen strong interest in this platform, and we are happy with how this technology is performing in the field. At the same time, we were seeing continued uptake of our Lumen detectors we now have a full portfolio of lumen detectors used across various modalities, including dental and fluoroscopy. We recently also introduced Lumen detector models made in our factory in China, for sales in global markets where there are no political or economic barriers to sales of products made in China. We expect the shipments of Lumen detectors made in our factory in China starting in October of this year. The Lumen platform offers a U.S. design detector for radiographic applications at a globally competitive price and is targeted at expanding our coverage of these applications. Our Industrial business has seen solid growth this year, partly due to strength in our nondestructive inspection applications, which utilized our linear accelerator products, also referred to as linacs. These are high-power X-ray sources that are used in inspection of large objects such as cargo containers, automotive parts, jet engines and rocket motors. We're excited to say that this technology was used in the manufacturing of India's Chandrayaan-3 rocket, which is carrying a rover to the moon. Varex Linacs were used to inspect the integrity of the rocket motors, propellent tanks and detecting voids, cracks and other abnormalities. Varex is the world leader in high-energy linear accelerators for industrial applications. We work with various rocket manufacturers in the U.S., Europe and Japan, and now we're proud to support India's growing space program. In summary, we're very happy with our performance in the third quarter. And now I will turn over the call to Sam to go over the details of our financial results.Shubham MaheshwariThanks, Sunny, and hello, everyone. As a reminder, unless otherwise indicated, I'll provide sequential comparisons of our results for the third quarter of fiscal 2023 with those of our second quarter of fiscal 2023. I'm pleased to report another strong quarter. We exceeded the midpoint of guidance for revenue. Gross margin was above the guided range, and non-GAAP EPS was towards the high end of guidance. The primary driver of the strong performance was the continued execution in our Industrial segment. As a result, we reported sales of $232 million and non-GAAP gross margin of 34%. Non-GAAP EPS was $0.37. Further, we generated $38 million of operating cash flow in the quarter, our second highest cash generating quarter as a public company. Third quarter revenues increased 2% compared to the second quarter of fiscal 2023. Revenues increased 8% compared to third quarter of fiscal 2022. Medical revenues were $175 million, and Industrial revenues were $57 million. Due to the ongoing strength of the industrial segment, Industrial revenues climbed to 24% of our total revenues for the quarter. Medical revenues were 76%. Looking at revenue by region. Americas increased 8% sequentially, while EMEA increased 10% and APAC decreased 10%. China was 18% of the overall revenue for the quarter. Let me now cover our results on a GAAP basis. Third quarter gross margin was 33%, 100 basis points higher sequentially. Operating expenses were $52 million, down $5 million compared to the second quarter of fiscal 2023 and operating income was $24 million, up $8 million. Net earnings was $9 million, and GAAP EPS was $0.21 based on fully diluted 50 million shares. Please note that GAAP and non-GAAP EPS for the third quarter reflect the adoption of ASU 2020-06. This involves an add-back of $1.4 million of after-tax interest expense for us to a net earnings and adds approximately 10 million shares to the diluted share count. Moving on to the non-GAAP results for the quarter. Gross margin of 34% was up 100 basis points sequentially, driven primarily by higher pricing, higher proportion of sales in higher-margin Industrial segment and a favorable experience in freight expenses. R&D spending in the third quarter was $20 million, down $3 million compared to the second quarter. This was due primarily to $2 million of payments related to technology milestones made to Micro-X in the second quarter of fiscal 2023. Overall, R&D was 9% of revenues within our targeted 8% to 10% range. SG&A was approximately $29 million, flat compared to the second quarter. SG&A was 12% of revenues. Operating expenses were $49 million or 21% of revenue. Overall, our operating expenses were slightly above our expectations. Operating income was $29 million, up $6 million sequentially. Operating margin was 13% of revenue compared to 10% in the second quarter of fiscal 2023. Tax expense in the third quarter was $5 million or 21% of pretax income compared to $4 million or 28% in the second quarter of fiscal '23. Net earnings were $17 million or $0.37 per diluted share, up $0.11 sequentially. Non-GAAP EPS of $0.37 is calculated by adding after-tax interest expense of $1.4 million to net earnings of $17 million and the result is then divided by 50 million shares. Now turning to the balance sheet. Accounts receivable increased by $3 million from the prior quarter and DSO held steady at 64 days. Inventory decreased $13 million in the third quarter, and days of inventory decreased 8 days to 174 days. We are pleased with the progress in reducing inventory and expect this to continue in the fourth quarter of fiscal '23. Accounts payable increased by $1 million and days payable stood at 44 days. Now moving to debt and cash flow information. Net cash flow from operations was $38 million in the third quarter due primarily to profitability and $13 million reduction in inventory. We ended the quarter with cash, cash equivalents and marketable securities of $152 million, an increase of $30 million from the second quarter of fiscal '23. Gross debt outstanding at the end of the quarter was $449 million, and debt net of $152 million of cash and marketable securities was $297 million. Adjusted EBITDA for the quarter was $38 million or 16% of sales. Our net debt leverage ratio was 2.3x trailing 12 months of adjusted EBITDA at the quarter end. Now moving on to guidance. At the beginning of the second half of fiscal '23, we provided guidance for sales growth for the year of 3% to 5%, and we expect to be in that range. Here is the guidance for the fourth quarter. Revenues are expected between $220 million and $240 million and non-GAAP earnings per diluted share is expected between $0.20 and $0.40. Our expectations are based on non-GAAP gross margin in a range of 33% to 34%, non-GAAP operating expenses in the range of $49 million to $50 million, tax rate of about 25% for the fourth quarter non-GAAP diluted share count of about 50 million shares per ASU 2020-06. With that, we'll now open the call for your questions.Question and Answer SessionOperator(Operator Instructions) Our first question comes from the line of Suraj Kalia with Oppenheimer & Company.Suraj KaliaSunny, Sam, can you hear me all right?Sunny S. SanyalYes, we can, Suraj.Suraj KaliaGentleman, congrats on a really nice quarter. So Sunny or Sam, either one, specifically on medical, Sunny, one of the things that I know you have talked in the past numerous times, and I know, for example, GE is also talking about Photon counting detectors as a key thing being viewed. Sorry, if you could, I'd love to understand how should we adjudicate photon counting adoption and competitive dynamics? And maybe if you could give us some real snapshot where worldwide photon counting sales are (inaudible) Varex fits in that [pie].Sunny S. SanyalSure, Suraj. So Photon counting is an emerging technology, and it's in the process of gaining reputation in the market, and it's only the last, let's say, 18 months or so that in the medical field, it has been publicized quite a bit for CT type of applications. So from our perspective, we're excited about it because we went into photon counting in anticipation of solid capabilities that would bring value in medical CT and now we're seeing the industry also starting to move in that direction. We are present with Photon Counting into markets, industrial and medical. The cycle in Industrial is -- has been faster than in medical so far. And so part of our -- in industrial this quarter was also driven by use of photon-counting detectors in a few applications like food processing, battery inspection, et cetera. So we're excited to see Photon counting get traction. It's getting traction in industrial faster. We have some OEMs who are engaged in the use of photon counting and medical OEM medical applications. And more recently, we've started gaining a fairly good interest from the market with the use of CT. So that said, this is a novel platform, and we've said that our expected contribution to growth in the medical side is still several years away, while the market absorbs these technologies into their newer designs. So that's where we stand. We're excited about the technology. It's moving forward, and we're glad to see some of the major OEMs also lining up behind it because that's what that makes the adoption increase.Shubham MaheshwariYes. And then, Suraj, I'll add that, as of now, our photon counting and charge integration combined, that business is right now generating about $20 million of sales annualized, and we are seeing growth there. So just wanted to give you that perspective of where we are with this technology as of now revenue-wise.Suraj KaliaPerfect. Yes. That is really helpful. Sunny, 1 more question for you and 1 for Sam. Sunny, if you could status on cold cathodes case and also MIC China 2025, what are the dynamics there currently to the extent that you can share. And Sam, any updates, and forgive me if I missed this, we have multiple calls going on. Just in terms of inventory management and your gross margin, your pace of growth of GAAP gross margins. How should we think about it as we exit this year and going into, let's say, first half of '24.Sunny S. SanyalOkay. So Suraj, for -- with respect to cold cathodes, just like I said, with photon counting new technology, it takes time to adopt an adoption curve there is further along than with cold cathode nanotube technologies. Nano tubes are much newer, and the industry is trying to figure out what kinds of applications would be applied to it. So again, our -- from our perspective, from a revenue contribution perspective, that's further out than Photon Counting, where we are with that technology is the -- we're continuing to make progress on the product development and developing making tubes with that technology. Our technology transfer for Micro-X has gone very well. We are continuing to do with that work, and we're continuing to evolve that technology. We have continued to make prototypes with our joint venture partner, and now we're working through some commercial aspects of our relationship. In short, from our perspective, we're making good progress with the technology. We're happy with the technology. And we're seeing now customers starting to get engaged to get their head around how they might think about applications for this technology.Shubham MaheshwariAnd then coming back to your questions, Suraj, on inventory and gross margin. So in terms of inventories, as you know, we've been trying to bring inventories down, and we are very pleased with the progress that we made in this last quarter. We brought inventories down by $13 million, and our focus on that continues. We are expecting inventories to come down further. We are working in that direction. So in the next 3 months and 6 months, we should be bringing inventory further down. we are not guiding by how much the amount -- we are not guiding the amount that we are targeting to bring down, but I think we have some room to bring it down further. And then in terms of gross margin, we've made good progress in this last quarter. I would say that gross margin has benefited through various initiatives of our's manufacturing efficiencies have come back in. The freight environment has generally been favorable in the last quarter. And as I talked about, price cost drag has been minimized. But there are still -- we are still suffering through some continued price cost drag on to the P&L, and we have some high cost components in our inventory, and we are expecting them to fully work their way through the system by December, January time frame. So at that point, I'm thinking of a further pickup of, say, around 100 basis points in gross margin further. So that is how gross margin picture is shaping up, and we remain committed to our target of getting to a non-GAAP gross margin somewhere between 34% and 35%.Sunny S. SanyalSuraj, you also asked about China 2025. I didn't understand the first word that you said with at MIC, I wasn't sure of that -- what you meant by that. But as far as China 2025 is concerned, we began our journey to address the need requirements for China 2025 a few years ago. And what we were taking 2 different sites we made in China. In terms of our approach to it, we started with our facility in Wuxi to make products local for local in China, and that has been -- we started with tubes, we've expanded to detectors, and now we're making a very large number of tubes and detectors in China. We are -- so the couple of things are happening. We're -- our strategy for China 2025 is to get our products registered with -- and such that we can get the made in China labeling, which is where we are currently. And we'll continue to expand the portfolio of products that -- 2 products that we sell in China to be made that way and have carried that kind of a label. In addition, we've been expanding our local commercial relationships in China so that we contract locally with our Wuxi office -- our Wuxi facility to handle both shipment of new products, but then also warranty survey support and all the things that you would expect out of a supplier that's based in China for the Chinese manufacturers. And so our expectations by 2025, a vast majority of the products that we sell in China will be -- can be supplied from China. That's the approach we're taking. We have validated this approach with our global OEMs and with the local OEMs to see their level of comfort in what we're doing, and we seem to be in alignment with what they're expecting from us for China 2025.OperatorOur next question comes from the line of Larry Solow with CJS.Lawrence Scott SolowA couple of follow-ups to Suraj's questions and a couple of new ones as well. Just on Sunny, you mentioned -- or I think Sam might have mentioned on the full-time accounting, it's about $20 million in sales today. So that's about 2% of sales. Just trying to get a little of my hands around like you have like a figure of sort of new products or products introduced in the last 3 years and how much they represent of your total sales today. I imagine it's still under 5%. Is that fair to say?Shubham MaheshwariLarry, this is Sam. In terms of the revenue related to new products, and new products received over the last 3 years from that perspective.Lawrence Scott SolowOr whatever that you might have -- whatever that -- yes, I don't know how you guys look at that, but I'm just trying to get a sense of products introduced over some newer period, whether that's 1 year or 3 years, 5 years and sort of how much revenue that's contributing today and maybe what that could be in 5 years in our (inaudible).Shubham MaheshwariSo Larry, I do not have that number off the top of my head here right now. But I do want to qualitatively say that in our business, once we release the product, it goes through a pretty -- fairly long adoption cycle in the sense the product has been released and the customers are trying to make it into their product, and then they release their product. And when that customer's product picks up volume, that is when we see volumes. So it is quite normal and natural in our business that for quite some time and that quite some time could easily be 2 years, 1 to 2 years easily, where the product has been released and it is not generating a significantly high amount of revenues. So from that perspective, for the first 3 years of product release, we may not be seeing a whole lot of revenues, and so we do not track it that way. But we can figure that out for some of the conversation future. I think in our business, it will make more sense in terms of thinking more from a 5-year horizon perspective. So we can talk about it at some other later call, Larry, I don't have that right here.Sunny S. SanyalLarry, I can give -- I'll give you one frame of reference. You may recall, when we spun off at that time, there were -- we had a lot of discussions about China and CT tubes in China and the contribution of revenues from those. It's been now 6 years. And at that time, those tubes were designed. And recall, we said our OEMs or implementing them, designing them in. We are now 5, 6 years into that journey, and now chatting to you, you see what our China revenues are. that's sort of you're going to have as a frame of reference, what happens when we launch products, how long does it take? And once we do, what kind of volume sort of to expect in an active market.Lawrence Scott SolowI appreciate the color. Sunny, yes, I appreciate that. While I got you on that. So the 18% that you referenced or Sam referenced is coming from China. Is the vast majority of that today in CT tubes?Sunny S. SanyalIt's in tubes, yes. And majority of tubes is CT tubes for us there.Lawrence Scott SolowRight. Okay. But then did I cut you off, (inaudible) I think you were going to say something else?Sunny S. SanyalNo, that's it.Lawrence Scott SolowOkay. And then just a follow-up on the margin question. I guess early in the year, I think you guys sort of cited price to cost lag, inflation or, I guess, price-to-cost lag, maybe tie in one of the places you trying to catch up with price raising. But also on supply chain issues I think you sort of said you thought there was like a 400 to 500 basis point tailwind on EBIT adjusted EBIT margin. We -- how far along are we? You kind of mentioned you have like another 100 bps on gross margin. And if I just look at what you did this quarter versus what you did in Q1, you were sort of 400 bps higher. So does that kind of capture that 400 to 500 bps that you spoke about in Q1? Can we get more as we look out? How should we view that?Shubham MaheshwariYes, Larry. So 6, 9 months ago, when we talked about it, there were a number of things that were headwinds and slowly, we have been working on it, including freight and manufacturing efficiencies and supply chain-driven issues, et cetera. A lot of them are now back to the precrisis or pre-COVID crisis type of levels. So I would say, at this point, there is still 100 to 200 basis points of improvement possible from where we are here. But I would say more closer to 100, 150 basis points. You might get some noise here and there from quarter-to-quarter and we are working through it. But a lot of these other factors have now actually been recovered or we have already -- those are -- we are behind it, and that is the cause of the margin improvement.Lawrence Scott SolowFair enough. So you sort of said that 100 bps on gross margin. So it feels like once you hopefully get that sometime maybe by the end of the calendar year, and maybe there's a little bit more on the operating end, but going forward beyond that, it would just have to be new products driving higher prices or operating leverage, I guess, right?Shubham MaheshwariYes, there will be 3 things, Larry. One is what you said exactly, sales volume, second will be the -- and that will drive the operating leverage. And then the new products will be a major factor in that. And the third element there is the segment mix. as industrial becomes a higher portion of the business, then it has a positive gross margin effect on the overall margin.Lawrence Scott SolowGot it. Okay. And let me just squeeze in 1 more question. Just on the guidance, sort of I get the gross margin maybe come down a little bit because you had a nice quarter of mix this quarter, and I -- and usually, Q4 medical is usually stronger seasonally stronger. That's a little bit lower margin. But so I'm just trying to figure out how come -- as we look out to Q4, I thought seasonally with Medical being stronger and being the majority of your revenue. Usually, you have a better Q4 than Q3. Is there any reason why we're kind of at the same guidance trends? Or is it anything I'm missing there?Shubham MaheshwariYes, sure. So Larry, I'll let -- me take that question for you. So if you look at our second half of FY '23 versus the first half of FY '23, we are up around 7%. If you look at last year second half to first half, we were about 8%. So I would say if you look at it a little bit broader than the quarter, we are pretty much showing the same pattern. But within the quarter, what can end up happening is $2 million, $3 million, $4 million comes into this quarter versus the next quarter, and so that can give that optics of quarter-to-quarter. But if you look at it, from a half versus half, we are pretty much doing what we said. And then also for the full year, we kind of guided 3% to 5%. And at the midpoint here, we are looking at 4.3% or something for the full year growth. So essentially, from our perspective, we are achieving what we set out to do for FY '23. But then a couple of millions here and there between the quarters can have that optics effect.OperatorOur next question comes from the line of Xuyang Li with Jefferies.Xuyang LiAll right. Great. Maybe to start on the industrials performance. Good to see the continued growth and margin contribution there. I guess I'm wondering if you can maybe talk a little bit about the sustainability of the growth trend, your visibility into the ordering patterns there? And is this sort of early innings of a multiyear growth cycle for industrials?Sunny S. SanyalSo industrial has been strong for us, and it has been I think post COVID, it has come back and been consistently strong, and it has been growing. So we're very pleased with it. We're also at a point where there are certain segments of the market that are adopting imaging fairly rapidly. And so we continue to be -- benefit from that effect. So look, we're fairly optimistic about continued adoption of technology in industrial, and it seems to be -- there are parts of that industry that are tender-driven that can be lumpy. But non-destructive inspection in general industrial areas are fairly -- have been fairly steady and strong for us. So I'm optimistic about the long-term prognosis because it's largely a greenfield market. It's also -- it's growing faster than medical as well, as we've discussed in the past.Xuyang LiOkay. Very helpful. I guess my follow-up just on China, 18% of rev that implies a low single to mid-single-digit growth year-over-year, that's below the historical growth trend. It would be great if you can provide some more color on the growth that you saw this quarter. How did it perform relative to your expectations? And what's the outlook for growth for China going forward?Shubham MaheshwariYes, sure. Xuyang. So China performed as per our expectations. There was neither a positive versus expectations or a negative in this last quarter. And then coming back to your question of year-over-year growth I would say that the numbers for China are now becoming fairly -- are becoming reasonably large for us. So the law of large numbers as well as -- is coming in as well as it's difficult for a region to continue to grow 15%, 20% ongoing basis, but even smaller percentage is now reasonably large size in terms of the dollar amount. So you are seeing year-over-year growth kind of moderate, but we are seeing strength in -- but in terms of percentages, that strength is moderating, which is natural, and we have talked about this in the past that over time, China growth will fall in -- fall back in line with the rest of the world, but there is still some more room to go there in terms of China growing faster than the rest of the world. So China is, as of now, China is behaving and sales are happening like how we would expect it to do.OperatorOur next question comes from the line of James Sidoti with Sidoti & Company.James Philip SidotiCan you talk a little bit about inventory at your medical OEMs. I know at the beginning of the year, you were worried that because they were having supply chain issues that they maybe had an oversupply of your [components] and might be cutting back. Now 6 to 8 months down the road, have those supply chain issues subsided? And where is the inventory of your product at the OEMs.Sunny S. SanyalSo Jim, this is Sunny. I'll generalize. Yes, a couple of quarters ago, there were some acute problems with some of our OEMs with getting their factories to flow because of supply chain issues and they had a [battle of] huge backlogs, and there were some amount of our products that were in inventory. And you may recall, that's why our first quarter was faced a lot of stress as a result of that. But since then, the flow seems to have improved through the production environments of our customers, and they're not declaring victory yet. There are still supply chain issues, (inaudible), and we are seeing those as well, while broad-based supply chain issues have been -- have eased. There are still spots where we get -- [few of] our vendors, but there are situations where things get caught up. So it's not fully out of the woods yet, but I would say that the overall inventory levels of our product with, I'd say, our customers are lower than where they were in, I'd say, a couple of quarters ago.James Philip SidotiOkay. And then one of the other concerns you had 2 quarters ago was hospital capital spending not it might slow down because of the economic uncertainty. And again, 6 months down the road, it seems like the recession may not be as bad as we thought initially. Have you seen pressures there subsided as well? Have you seen hospitals more willing to step up their capital spending?Sunny S. SanyalWhat we are seeing is that the labor-related costs are easing up. And increasingly, we're hearing hospitals doing better with their use of temporary labor. So we see that as a positive. That increase improves profitability. We've also seen some amount of buying -- continued buying by hospitals. So it's -- I'd say it's more positive than it was before. But beyond that, it's hard for us to speculate what that environment looks like, particularly on a generalized global basis. These things vary by geography.James Philip SidotiOkay. All right. And then I'll just sneak in 1 more on the balance sheet. Prepared expense and other current assets, that was up about $15 million, $16 million in the quarter. Is that where some of the cash is?Sunny S. SanyalYes. Jim, I just want to make sure I hear it correctly. Did you say prepaid and other current assets?James Philip SidotiRight.Sunny S. SanyalSome of the cash because it is beyond 90 days is considered other current assets, and that's where it is, yes.James Philip SidotiOkay. Is there any other reason why that was up so much in the quarter? Or is that just the basically the cash equivalent.Sunny S. SanyalThat is basically the cash equivalents. Now it might be a few 100K here or there a noise level change, but most of it is the other -- is the cash equivalents.OperatorAnd our next question comes from the line of Anthony Petrone with Mizuho Securities.Anthony Charles Petrone1 on just manufacturing mix. Just kind of want to get an update on what amount is actually being produced at a Wuxi versus Salt Lake and how that influences margin -- overall gross margins. And as we look ahead over the next couple of years, where can that mix trend? And I'll have 1 follow-up question.Shubham MaheshwariSo, Anthony, this is Sam. Good to hear your voice. So in terms of Wuxi production, Wuxi, in the overall scheme of things, even as of now, is a smaller site for us. I would say about closer to 70% of value or revenue volume is done through Salt Lake City and the remaining is done through Germany, Philippines, Netherlands and Wuxi. So that gives you a little bit of a perspective. I would say it is still on an annualized basis, less than 10% of our overall revenue volume going through Wuxi. So that gives you a little bit of a perspective there. And then in terms of overall gross margin, it just depends from what type of modality that we are shipping from there, and it can change. So it is not something which is due to labor difference or anything else. It is -- it gets impacted largely depending upon which customer, what modality that we are shipping from Wuxi versus Salt Lake City. So it's a little bit of a hard question to answer. It can vary from quarter-to-quarter.Anthony Charles PetroneAnd maybe just an update on the mix between tubes and flat panel detectors, other components last year, extending maybe even 18 months ago, there was pressure in pricing on flat panel detectors, but CT tubes in particular, were holding price quite well. So anything of note on the pricing side between tubes and flat panel detectors as we look into the back half of the year, maybe even into 2024.Shubham MaheshwariYes. So in general, a few years ago, I would say our business used to be 45% sources, 45% panels and detectors, and 10% would be Connect and control or CNC and software. As of now, I would say, we are around 10% CNC and software, but that the 90% split, which used to be equal between sources across Industrial and Medical segments, used to be 45% and 45%. But now that has moved 50% towards tubes and 40% towards panels, driven by the factor that tubes, the sources side, the medical sources side has grown a bit faster than the panel side. And so that is the overall distribution between panels and X-ray sources and other components of the business. What was the second question, Anthony?Sunny S. SanyalPrice.Shubham MaheshwariIn terms of pricing, as you know, 18 months ago, 18 or so months ago, we had a broad initiative across the entire customer base for price increases. I would say that we've been successful at that. We've been getting prices. And then it has been somewhat in phases for some time, semiconductors, which largely go into panels. Those prices spiked up. And that enabled us to -- that helped us to increase prices on the panel side a bit more. But then on the tube side, since it's more of a mechanical and a hardware type of a product, those metals and all those prices those costs go up. And based on that, we were able to increase prices on sources. I would say, as of now, as I look back at the last 12 to 18 months of experience, our pricing increases on the sources side has been a bit higher in on the panel side.OperatorAnd we have reached the end of the question-and-answer session. And now I'll turn the call back over to Chris Belfiore for closing remarks.Christopher John BelfioreThank you for your questions. I'll now hand the call back to Sunny for some final comments.Sunny S. SanyalThank you, Chris. In closing, very pleased with the solid third quarter results and on track to achieve or get growth rate for the year. As always, I'm very proud of our global team and employees that make a difference on a daily basis. And thank you all for taking the time to join us today. and for your continued interest in Varex.Christopher John BelfioreThank you, Sunny, and thank you all for your questions and participating in our earnings conference call today. The webcast and supplemental slide presentation will be archived on our website. A replay of this quarterly conference call will be available through August 15 and can be accessed on our website, vareximaging.com/investorrelations. Thank you, and goodbye.OperatorThis concludes today's conference, and you may disconnect your lines at this time. Thank you for your participation.

Thomson Reuters StreetEvents

Q3 2023 Varex Imaging Corp Earnings Call

https://finance.yahoo.com/news/q3-2023-varex-imaging-corp-111119536.html

76949d56-643b-3934-9826-266d6207b5f2

VREX

To find a multi-bagger stock, what are the underlying trends we should look for in a business? Firstly, we'll want to see a proven return on capital employed (ROCE) that is increasing, and secondly, an expanding base 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. Although, when we looked at Varex Imaging (NASDAQ:VREX), it didn't seem to tick all of these boxes.Understanding Return On Capital Employed (ROCE)If you haven't worked with ROCE before, it measures the 'return' (pre-tax profit) a company generates from capital employed in its business. The formula for this calculation on Varex Imaging is:Return on Capital Employed = Earnings Before Interest and Tax (EBIT) ÷ (Total Assets - Current Liabilities)0.072 = US$76m ÷ (US$1.2b - US$159m) (Based on the trailing twelve months to June 2023).Thus, Varex Imaging has an ROCE of 7.2%. Ultimately, that's a low return and it under-performs the Medical Equipment industry average of 9.7%. View our latest analysis for Varex Imaging roceAbove you can see how the current ROCE for Varex Imaging compares to its prior returns on capital, but there's only so much you can tell from the past. If you'd like, you can check out the forecasts from the analysts covering Varex Imaging here for free.So How Is Varex Imaging's ROCE Trending?In terms of Varex Imaging's historical ROCE trend, it doesn't exactly demand attention. Over the past five years, ROCE has remained relatively flat at around 7.2% and the business has deployed 26% more capital into its operations. This poor ROCE doesn't inspire confidence right now, and with the increase in capital employed, it's evident that the business isn't deploying the funds into high return investments.The Bottom LineLong story short, while Varex Imaging has been reinvesting its capital, the returns that it's generating haven't increased. Since the stock has declined 35% over the last five years, investors may not be too optimistic on this trend improving either. Therefore based on the analysis done in this article, we don't think Varex Imaging has the makings of a multi-bagger.Story continuesVarex Imaging does have some risks though, and we've spotted 1 warning sign for Varex Imaging that you might be interested in.While Varex Imaging isn't earning the highest return, check out this free list of companies that are earning high returns on equity with solid balance sheets.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.

Return Trends At Varex Imaging (NASDAQ:VREX) Aren't Appealing

https://finance.yahoo.com/news/return-trends-varex-imaging-nasdaq-103010210.html

4e11aa50-95e6-3755-bebc-b7d6533f5f3b

VRPX

BERWYN, Pa., August 28, 2023--(BUSINESS WIRE)--Virpax® Pharmaceuticals, Inc. ("Virpax" or the "Company") (NASDAQ: VRPX), a company specializing in developing non-addictive products for pain management, post-traumatic stress disorder, central nervous system (CNS) disorders and viral barrier indications, today announced that it will be presenting virtually at the upcoming H.C. Wainwright event from Monday, September 11th through Wednesday, September 13th starting at 7:00 a.m. ET. Anthony P. Mack, Chairman & CEO of Virpax, will be giving the presentation. Management will also be hosting in-person and virtual one-on-one meetings during the conference.Event: Virpax Presentation at the H.C. Wainwright 25th Annual Global Investment ConferenceDate: Monday, September 11th through Wednesday, September 13thTime: On Demand from 7:00 a.m. ET to 7:00 p.m. ET dailyWebcast: Register HereA replay of the presentation will also be available for 90 days on the Virpax website.For more information on the H.C. Wainwright BioConnect Conference or to schedule a one-on-one meeting with Virpax management, please contact your conference representative or you may also email your request to [email protected] or call (917) 923-8541.About Virpax PharmaceuticalsVirpax is developing branded, non-addictive pain management product candidates using its proprietary technologies to optimize and target drug delivery. Virpax is initially seeking FDA approval for two prescription drug candidates that employ two different patented drug delivery platforms. Probudur™ is a single injection liposomal bupivacaine formulation being developed to manage post-operative pain and Envelta™ is an intranasal molecular envelope enkephalin formulation being developed to manage acute and chronic pain, including pain associated with cancer. Virpax is also using its intranasal Molecular Envelope Technology (MET) to develop two other product candidates. PES200 is a product candidate being developed to manage post-traumatic stress disorder (PTSD) and NobrXiol™ is a product candidate being developed for the nasal delivery of a pharmaceutical-grade cannabidiol (CBD) for the management of rare pediatric epilepsy. Virpax recently acquired global rights to NobrXiol. Virpax is also seeking approval of two nonprescription product candidates: AnQlar, which is being developed to inhibit viral replication caused by influenza or SARS-CoV-2, and Epoladerm™, which is a topical diclofenac spray film formulation being developed to manage pain associated with osteoarthritis. For more information, please visit virpaxpharma.com and follow us on Twitter, LinkedIn and YouTube.Story continuesAbout H.C. Wainwright & Co.H.C. Wainwright is a full-service investment bank dedicated to providing corporate finance, strategic advisory and related services to public and private companies across multiple sectors and regions. H.C. Wainwright & Co. also provides research and sales and trading services to institutional investors. According to Sagient Research Systems, H.C. Wainwright’s team is ranked as the #1 Placement Agent in terms of aggregate CMPO (confidentially marketed public offering), RD (registered direct offering) and PIPE (private investment in public equity) executed cumulatively since 1998.View source version on businesswire.com: https://www.businesswire.com/news/home/20230828154147/en/ContactsInvestor Relations:Betsy BrodAffinity Growth [email protected] (917) 923-8541Media:Robert [email protected] (646) 638-9891

Business Wire

Virpax® Pharmaceuticals to Present at H.C. Wainwright 25th Annual Global Investment Conference

https://finance.yahoo.com/news/virpax-pharmaceuticals-present-h-c-125800131.html

4db18cfb-94ea-3944-ad74-ec866a4e115d

VRPX

BERWYN, Pa., September 05, 2023--(BUSINESS WIRE)--Virpax® Pharmaceuticals, Inc. ("Virpax" or the "Company") (NASDAQ: VRPX), a company specializing in developing non-addictive products for pain management, post-traumatic stress disorder, central nervous system (CNS) disorders and viral barrier indications, today announced that it has received a ruling on the lawsuit filed by Scilex Pharmaceuticals (NASDAQ:SCLX) and Sorrento Therapeutics, the now bankrupt majority owner of Scilex Pharmaceuticals.The Court found in favor of the plaintiffs (on all but three counts deemed to have been waived). However, no damages judgment was specified in the ruling which called for additional proceedings to determine the remedy.About Virpax PharmaceuticalsVirpax is developing branded, non-addictive pain management products candidates using its proprietary technologies to optimize and target drug delivery. Virpax is initially seeking FDA approval for two prescription drug candidates that employ two different patented drug delivery platforms. Probudur™ is a single injection liposomal bupivacaine formulation being developed to manage post-operative pain and Envelta™ is an intranasal molecular envelope enkephalin formulation being developed to manage acute and chronic pain, including pain associated with cancer. Virpax is also using its intranasal Molecular Envelope Technology (MET) to develop two other product candidates. PES200 is a product candidate being developed to manage post-traumatic stress disorder (PTSD) and NobrXiol™ is a product candidate being developed for the nasal delivery of a pharmaceutical-grade cannabidiol (CBD) for the management of rare pediatric epilepsy. Virpax recently acquired global rights to NobrXiol. Virpax has competitive cooperative research and development agreements (CRADAs) for all three of its prescription drug candidates, two with the National Institutes of Health (NIH) and one with the Department of Defense (DOD). Virpax is also seeking approval of two nonprescription product candidates: AnQlar, which is being developed to inhibit viral replication caused by influenza or SARS-CoV-2, and Epoladerm™, which is a topical diclofenac spray film formulation being developed to manage pain associated with osteoarthritis. For more information, please visit virpaxpharma.com and follow us on Twitter, LinkedIn and YouTube.Story continuesForward-Looking StatementsThis press release contains certain 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 Private Securities Litigation Reform Act, as amended, including those relating to the Company's planned clinical trials, product development, clinical and regulatory timelines, market opportunity, competitive position, possible or assumed future results of operations, business strategies, potential growth opportunities and other statements that are predictive in nature. These forward-looking statements are based on current expectations, estimates, forecasts and projections about the industry and markets in which we operate and management's current beliefs and assumptions.These statements may be identified by the use of forward-looking expressions, including, but not limited to, "expect," "anticipate," "intend," "plan," "believe," "estimate," "potential," "predict," "project," "should," "would" and similar expressions and the negatives of those terms and include statements regarding the Company’s Rx development pipeline. These statements relate to future events or the Company’s financial performance and involve known and unknown risks, uncertainties, and other factors, including the impact of any damages or remedies awarded in the additional proceedings of the lawsuit; the Company’s ability to resolve the litigation; the Company’s ability to successfully complete research and further development and commercialization of Company drug candidates in current or future indications;; the uncertainties inherent in clinical testing; the Company’s ability to manage and successfully complete clinical trials and the research and development efforts for multiple product candidates at varying stages of development; the timing, cost and uncertainty of obtaining regulatory approvals for the Company’s product candidates; the Company’s ability to protect its intellectual property; the loss of any executive officers or key personnel or consultants; competition; changes in the regulatory landscape or the imposition of regulations that affect the Company's product candidates; the Company’s ability to continue to obtain capital to meet its long-term liquidity needs on acceptable terms, or at all, including the additional capital which will be necessary to complete clinical trials that the Company plans to initiate; and other factors listed under "Risk Factors" in our annual report on Form 10-K and quarterly reports on Form 10-Q that the Company files with the U.S. Securities and Exchange Commission. Prospective investors are cautioned not to place undue reliance on such forward-looking statements, which speak only as of the date of this press release. The Company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise.View source version on businesswire.com: https://www.businesswire.com/news/home/20230905064620/en/ContactsInvestor Relations:Betsy BrodAffinity Growth [email protected] (917) 923-8541Media:Robert [email protected] (646) 638-9891

Business Wire

Virpax Pharmaceuticals Updates on Litigation

https://finance.yahoo.com/news/virpax-pharmaceuticals-updates-litigation-130000502.html

6f372cc9-6cda-3dd1-bb4d-4cb08ee33d4e

VRSK

The U.S. services industry has continued to show resilience despite inflationary pressures. Demand for services has been growing over the past few months, indicating that the economy is still going strong. Also, as inflationary pressures ease further, the industry should benefit more.Moreover, with renewed optimism over the Fed likely keeping its interest rates unchanged in its upcoming FOMC, the industry is expected to get a further boost. Given this situation, stocks like Verisk Analytics, Inc. VRSK, Huron Consulting Group Inc. HURN, APi Group Corporation APG and MSCI Inc. MSCI are expected to benefit in the near term.Services Activity Grows in AugustThe Institute for Supply Management reported on Sep 6 that its non-manufacturing Purchasing Managers’ Index (PMI) increased month over month to 54.5 in August, up from 52.7 in July and surpassed the consensus estimate of a decline of 53.9. Also, last month’s reading was the highest since February.The services industry has now expanded for the eighth consecutive month. The services industry accounts for over two-thirds of the economy. A reading of more than 50 indicates growth in the services sector.The Business Activity Index jumped to 57.3% in August, up 0.2% from July’s reading of 57.1%. The New Orders Index rose to 57.5%, up 2.5% from July’s reading of 55%. The index has now expanded for the eighth straight month after declining in December for the first time since May 2020.Understandably, the services industry is making a rebound as inflationary pressures continue to ease. Although the manufacturing sector continues to suffer, high demand for services has seen the industry hold its ground amid rising costs.The Fed has so far increased interest rates by 525 basis points over the past year to take its benchmark policy rate to the range of 5.25-5.5% in its fight to tame multi-decade high inflation.The Fed’s aggressive rate hike stance has seen inflation decline sharply over the last 13 months. The personal consumption expenditure (PCE) inflation rose 3.3% in July on a year-over-year basis, after hitting a high of 7% last summer.Story continuesA resilient labor market was the Fed’s biggest concern as it posed a major challenge in fighting inflation. However, the Labor Department said that job growth averaged around only 150,000 over the past three months, down from 280,000 in the previous three months through May. Also, the unemployment rate rose to 3.8% in August, up from 3.5% in July and the highest level since February.Although the Fed has hinted at more interest rate hikes, optimism has been high lately that the central bank might leave interest rates unaltered in its September FOMC meeting as fresh data hinted at a cooling labor market.Our ChoicesThe present situation makes for an ideal opportunity to invest in the following four stocks.Verisk Analytics, Inc. is one of the leading data analytics providers serving customers in insurance, energy and specialized markets, and financial services. Using advanced technologies to collect and analyze data, VRSK draws on unique data assets and deep domain expertise to provide innovations that are integrated into customer workflows.Verisk Analytics’ expected earnings growth rate for the current year is 14%. The Zacks Consensus Estimate for current-year earnings has improved 3.6% over the past 60 days. VRSK presently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.Huron Consulting Group Inc. is the parent company of Huron Consulting Services LLC, an independent provider of financial and operational consulting services. HURN’s experienced and credentialed professionals use their expertise in accounting, finance, economics and operations to serve a wide variety of both financially sound and distressed organizations. HURN operates through three segments: Healthcare, Education and Commercial.Huron Consulting Group’s expected earnings growth rate for the current year is 31.8%. The Zacks Consensus Estimate for current-year earnings has improved 9.4% over the past 60 days. HURN currently sports a Zacks Rank #1.APi Group Corporation provides business services pertaining to safety, specialty and industrial. APG offers critical pipeline integrity and construction services for energy companies, utilities, public agencies, and contractors, as well as end-to-end fire protection solutions, including design, installation, inspection and service of fire protection systems.APi Group Corporation’s expected earnings growth rate for the current year is 13.5%. The Zacks Consensus Estimate for current-year earnings has improved 0.7% over the past 60 days. APG currently carries a Zacks Rank #2.MSCI Inc. provides investment decision support tools. MSCI’s services include portfolio construction and risk management products and services; environmental, social and governance research and ratings; and real estate research, reporting and benchmarking offerings.MSCI Inc.’s expected earnings growth rate for the current year is 14.6%. The Zacks Consensus Estimate for current-year earnings has improved 1.8% over the past 60 days. MSCI currently carries a Zacks Rank #2.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 reportHuron Consulting Group Inc. (HURN) : Free Stock Analysis ReportMSCI Inc (MSCI) : Free Stock Analysis ReportVerisk Analytics, Inc. (VRSK) : Free Stock Analysis ReportAPi Group Corporation (APG) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

4 Stocks to Buy on Continued Expansion in Services Activity

https://finance.yahoo.com/news/4-stocks-buy-continued-expansion-122300407.html

bb1c20fc-7fea-3348-8c28-031b448c818c

VRSK

Definitive Healthcare Corp.FRAMINGHAM, Mass., Sept. 08, 2023 (GLOBE NEWSWIRE) -- Definitive Healthcare Corp. (Nasdaq: DH), an industry leader in healthcare commercial intelligence, today announced two changes to its Board of Directors. On September 6, 2023, Scott Stephenson, the former Chief Executive Officer of Verisk Analytics, joined the Board of Directors and the nominating and corporate governance committee of the Board, while Chris Mitchell, managing director of Spectrum Equity, stepped down from the Board of Directors.“We are thrilled to welcome Scott Stephenson to the Definitive Healthcare Board of Directors,” said Jason Krantz, Executive Chairman of the Board and founder of Definitive Healthcare. “Scott brings a deep expertise in combining data and analytics to generate new intelligence for customers of all sizes. Scott will be a valuable resource for our leadership team as we continue to build out our industry-leading SaaS platform and develop new solutions that leverage artificial intelligence and machine learning.”Stephenson held various roles at Verisk Analytics, Inc. (Nasdaq: VRSK), a strategic data analytics and technology partner to the global insurance industry, between 2001 and 2022, including nine years as chief executive officer and a member of the Board of Directors. Prior to joining Verisk, Stephenson was a partner with The Boston Consulting Group, eventually rising to senior partner and member of the firm’s North American operating committee.Since February 2020, Stephenson has served on the Board of Directors of Public Service Enterprise Group Inc. (NYSE: PEG), the publicly traded parent company of New Jersey-based gas and electric utility company, Public Service Electric and Gas Co. (PSE&G). Mr. Stephenson holds a B.S. from the University of Virginia and an M.B.A. from Harvard Business School.“I’m excited to join the Definitive Healthcare Board of Directors,” said Stephenson. “Definitive Healthcare’s innovative SaaS platform, combined with their Atlas Dataset and proprietary AI-driven analytics has the company perfectly positioned to be an industry leader in the rapidly expanding market for healthcare commercial intelligence. I look forward to working with the leadership team to help them grow the business.”Story continuesConcurrent with Stephenson’s appointment, Chris Mitchell stepped down from the Definitive Healthcare board of directors.“Chris was one of the first external investors in Definitive Healthcare and I’ve always appreciated the tremendous faith that he showed in me and the business,” said Krantz. “Chris is a trusted advisor who helped us steer the company through an IPO and to more than $200 million in revenue. On behalf of the entire Definitive Healthcare family, I want to thank him for his service.”About Definitive HealthcareAt Definitive Healthcare, our passion is to transform data, analytics and expertise into healthcare commercial intelligence. We help clients uncover the right markets, opportunities and people, so they can shape tomorrow’s healthcare industry. Our SaaS platform creates new paths to commercial success in the healthcare market, so companies can identify where to go next. Learn more at definitivehc.com.Forward-Looking StatementsThis press release includes forward-looking statements that reflect our current views with respect to future events and financial performance. Such statements are provided under the “safe harbor” protection of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include all statements that do not relate solely to historical or current facts, and can generally be identified by words or phrases written in the future tense and/or preceded by words such as “likely,” “should,” “may,” “anticipates,” “intends,” “plans,” “seeks,” “believes,” “estimates,” “expects” or similar words or variations thereof, or the negative thereof, references to future periods, or by the inclusion of forecasts or projections, but these terms are not the exclusive means of identifying such statements. Examples of forward-looking statements include, but are not limited to, statements we make regarding our outlook, financial guidance, the market, industry and macroeconomic environment, our business, growth strategies, product development efforts and future expenses, customer growth and statements reflecting our expectations about our ability to execute on our strategic plans, achieve future growth and profitability and achieve our financial goals. Forward-looking statements in this press release are based on our current expectations and assumptions regarding our 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, our actual results may differ materially from those contemplated by the forward-looking statements. Important factors that could cause actual results to differ materially from those in the forward-looking statements. Factors or events that could cause our actual performance to differ from these forward-looking statements may emerge from time to time, and it is not possible for us to predict all of them. Should one or more of these risks or uncertainties materialize, or should any of our assumptions prove incorrect, our actual financial condition, results of operations, future performance and business may vary in material respects from the performance projected in these forward-looking statements. For additional discussion of factors that could impact our operational and financial results, refer to our Quarterly Report on Form 10-Q for the three months ended June 30, 2023, our 2022 Form 10-K/A and our Q1 2023 Form 10-Q/A, as well as our Current Reports on Form 8-K and other subsequent SEC filings, which are or will be available on the Investor Relations page of our website at ir.definitivehc.com and on the SEC website at www.sec.gov. All information in this press release speaks only as of the date on which it is made. We undertake no obligation to publicly update this information, whether as a result of new information, future developments or otherwise, except as may be required by law.Investor Relations Contact:Brian DenyeauICR for Definitive [email protected] Contacts:Danielle [email protected] [email protected]

GlobeNewswire

Definitive Healthcare Welcomes Scott Stephenson to Board of Directors

https://finance.yahoo.com/news/definitive-healthcare-welcomes-scott-stephenson-200600487.html

643a0845-6179-3c95-b199-1348a4c3d36b

VRSN

VeriSign VRSN announced that domain name registrations increased 4.3 million or 1.2% year over year across all top-level domains (TLDs) in the second quarter of 2023. Sequentially, domain name registrations were up 0.5% to 356.6 million.The company continues to benefit from healthy growth across .com and .net domain name registrations. For 2023, the company expects domain name base growth rate to be flat to rise 1% due to continued uncertainty and weakness related to China. The domain name base growth was projected to be between 0.5% and 2.25%.In the second quarter, the .com and .net TLDs increased 0.1 million domain name registrations, or 0.1% year over year to 174.4 million. Also, the .com and .net domain name bases totaled 161.3 million and 13.1 million domain name registrations, respectively, for the quarter that ended on Jun 30, 2023.VeriSign, Inc. Price and ConsensusVeriSign, Inc. Price and ConsensusVeriSign, Inc. price-consensus-chart | VeriSign, Inc. QuoteThe company processed 10.2 million new domain name registrations for .com and .net compared with 10.1 million in the prior-year quarter.In the second quarter, the final .com and .net renewal rate for first-quarter 2023 was 75.5% compared with 75.9% in the year-ago quarter. Management expects the renewal rate for second-quarter 2023 to be around 73.4% compared with 73.8% in the year-ago quarter.VeriSign marginally lowered the higher end of its revenue guidance. Management now expects 2023 revenues between $1.49 billion and $1.50 billion compared with the earlier guided range of $1.49-$1.505 billion.VeriSign provides Internet infrastructure services that include domain name registry services and infrastructure assurance services. The company continues to expand its critical infrastructure to tap the growing demand for DNS navigation services in industries like commerce, education and healthcare.The company announced that from Feb 1, 2024, it will increase the annual registry-level wholesale price for .net domain names by 99 cents to $10.91 from $9.92.Story continuesVeriSign currently carries a Zacks Rank #3 (Hold). Shares of VRSN have gained 10.9% compared with the sub-industry’s growth of 13.1% in the past year.Zacks Investment ResearchImage Source: Zacks Investment ResearchStocks to ConsiderSome better-ranked stocks in the broader technology space are Woodward WWD, Aspen Technology AZPN and Badger Meter BMI. Woodward and Aspen Technology presently sport a Zacks Rank #1 (Strong Buy), whereas Badger Meter currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.The Zacks Consensus Estimate for Woodward’s fiscal 2023 earnings per share (EPS) has increased 15.9% in the past 60 days to $4.15.WWD’s long-term earnings growth rate is 13.5%. Shares of WWD have gained 37.6% in the past year.The Zacks Consensus Estimate for Aspen Technology’s fiscal 2024 EPS has increased 5.8% in the past 60 days to $6.58.Aspen Technology’s long-term earnings growth rate is 17.1%. Shares of AZPN have declined 12.6% in the past year.The Zacks Consensus Estimate for Badger Meter’s 2023 EPS has increased 6.3% in the past 60 days to $2.86.Badger Meter’s earnings beat the Zacks Consensus Estimate in all the last four quarters, the average being 6.7%. Shares of BMI have surged 69.5% in the past year.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 reportBadger Meter, Inc. (BMI) : Free Stock Analysis ReportVeriSign, Inc. (VRSN) : Free Stock Analysis ReportWoodward, Inc. (WWD) : Free Stock Analysis ReportAspen Technology, Inc. (AZPN) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

VeriSign (VRSN) Q2 Domain Name Registrations Rise 1.2% Y/Y

https://finance.yahoo.com/news/verisign-vrsn-q2-domain-name-162500149.html

58fae567-dea8-3419-8e99-8541c7f157d0

VRSN

VeriSign (VRSN) closed the most recent trading day at $206.61, moving -0.55% from the previous trading session. This change lagged the S&P 500's 0.14% gain on the day. Elsewhere, the Dow gained 0.22%, while the tech-heavy Nasdaq added 0.09%.Coming into today, shares of the internet infrastructure services provider had gained 1.85% in the past month. In that same time, the Computer and Technology sector gained 0.07%, while the S&P 500 lost 1.27%.Investors will be hoping for strength from VeriSign as it approaches its next earnings release. The company is expected to report EPS of $1.74, up 10.13% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $373.79 million, up 4.73% from the year-ago period.VRSN's full-year Zacks Consensus Estimates are calling for earnings of $7.02 per share and revenue of $1.49 billion. These results would represent year-over-year changes of +12.5% and +4.68%, respectively.Investors should also note any recent changes to analyst estimates for VeriSign. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 1.59% higher. VeriSign is currently a Zacks Rank #3 (Hold).In terms of valuation, VeriSign is currently trading at a Forward P/E ratio of 29.59. This valuation marks a premium compared to its industry's average Forward P/E of 22.76.Story continuesThe Internet - Software and Services industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 68, which puts it in the top 27% of all 250+ industries.The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.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 reportVeriSign, Inc. (VRSN) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

VeriSign (VRSN) Stock Sinks As Market Gains: What You Should Know

https://finance.yahoo.com/news/verisign-vrsn-stock-sinks-market-215019361.html

79051562-caf9-339f-b413-97d14ce2aaa4

VRTX

With this in mind, we asked three Motley Fool contributors to identify unstoppable growth stocks to buy right now. Here's why they chose Eli Lilly (NYSE: LLY), Regeneron Pharmaceuticals (NASDAQ: REGN), and Vertex Pharmaceuticals (NASDAQ: VRTX). David Jagielski (Eli Lilly): If you're looking for a top growth stock to buy, it's hard to find one that's more promising right now than Eli Lilly.Continue reading

Motley Fool

3 Unstoppable Growth Stocks to Buy Right Now

https://finance.yahoo.com/m/f8349b1c-942e-3296-ba50-ff162c542109/3-unstoppable-growth-stocks.html

f8349b1c-942e-3296-ba50-ff162c542109

VRTX

Many investors have been loudly heralding a new bull market for the S&P 500. A bull market is (still) coming. Amazon is poised to become an even more dominant player in the logistics market thanks to its recent deal with Shopify.Continue reading

Motley Fool

A Bull Market Is (Still) Coming: Here Are 3 Spectacular Stocks to Buy Sooner Rather Than Later

https://finance.yahoo.com/m/1fae6db3-90b9-385f-8600-9bd05409104b/a-bull-market-is-still-.html

1fae6db3-90b9-385f-8600-9bd05409104b

VSEC

Key InsightsSignificantly high institutional ownership implies VSE's stock price is sensitive to their trading actionsA total of 12 investors have a majority stake in the company with 51% ownership Insiders own 14% of VSEEvery investor in VSE Corporation (NASDAQ:VSEC) should be aware of the most powerful shareholder groups. And the group that holds the biggest piece of the pie are institutions with 59% ownership. Put another way, the group faces the maximum upside potential (or downside risk).And last week, institutional investors ended up benefitting the most after the company hit US$906m in market cap. The one-year return on investment is currently 44% and last week's gain would have been more than welcomed.Let's take a closer look to see what the different types of shareholders can tell us about VSE. View our latest analysis for VSE ownership-breakdownWhat Does The Institutional Ownership Tell Us About VSE?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.As you can see, institutional investors have a fair amount of stake in VSE. This implies the analysts working for those institutions have looked at the stock and they like it. But just like anyone else, they could be wrong. If multiple institutions change their view on a stock at the same time, you could see the share price drop fast. It's therefore worth looking at VSE's earnings history below. Of course, the future is what really matters.earnings-and-revenue-growthInvestors should note that institutions actually own more than half the company, so they can collectively wield significant power. Hedge funds don't have many shares in VSE. FMR LLC is currently the largest shareholder, with 12% of shares outstanding. In comparison, the second and third largest shareholders hold about 12% and 4.8% of the stock.After doing some more digging, we found that the top 12 have the combined ownership of 51% in the company, suggesting that no single shareholder has significant control over the company.Story continuesWhile studying institutional ownership for a company can add value to your research, it is also a good practice to research analyst recommendations to get a deeper understand of a stock's expected performance. There are a reasonable number of analysts covering the stock, so it might be useful to find out their aggregate view on the future.Insider Ownership Of VSEThe definition of company insiders can be subjective and does vary between jurisdictions. Our data reflects individual insiders, capturing board members at the very least. Company management run the business, but the CEO will answer to the board, even if he or she is a member of it.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.Our most recent data indicates that insiders own a reasonable proportion of VSE Corporation. Insiders own US$131m worth of shares in the US$906m 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, who are usually individual investors, hold a 27% stake in VSE. This size of ownership, while considerable, may not be enough to change company policy if the decision is not in sync with other large shareholders.Next Steps:While it is well worth considering the different groups that own a company, there are other factors that are even more important. Take risks for example - VSE has 2 warning signs (and 1 which doesn't sit too well with us) we think 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.

VSE Corporation's (NASDAQ:VSEC) high institutional ownership speaks for itself as stock continues to impress, up 6.3% over last week

https://finance.yahoo.com/news/vse-corporations-nasdaq-vsec-high-113026903.html

e16239f2-cbd6-32a3-999c-7108a64bdd47

VSEC

ALEXANDRIA, Va., September 05, 2023--(BUSINESS WIRE)--VSE Corporation ("VSE" or the "Company") (NASDAQ: VSEC), a leading provider of aftermarket distribution and maintenance, repair and overhaul (MRO) services for air and land transportation assets supporting commercial and government markets, announced today that VSE Corporation’s senior management will participate in the following upcoming conferences.Jefferies 2023 Industrials Conference in New York, NY on September 7th. John Cuomo, President and CEO of VSE Corporation and Steve Griffin, Chief Financial Officer of VSE Corporation, are scheduled to participate in a fireside chat at 4:00 PM Eastern Time. Management will also participate in one-on-one investor meetings throughout the event.2023 RBC Capital Markets Global Industrials Conference in Las Vegas, NV, on September 13th. John Cuomo, President and CEO of VSE Corporation and Steve Griffin, Chief Financial Officer of VSE Corporation, are scheduled to host a breakout session at 10:55 AM Pacific Time. Management will also participate in one-on-one investor meetings throughout the event.William Blair's "What’s Next for Industrials?" Virtual Conference on September 28th. Steve Griffin, Chief Financial Officer of VSE Corporation, is scheduled to present at 3:00 PM Eastern Time.For more information about these events or to schedule a one-on-one meeting with VSE’s senior management, please contact VSE’s Investor Relations at [email protected] VSE CORPORATIONVSE is a leading provider of aftermarket distribution and repair services for air, land and sea transportation assets for commercial and government markets. Core services include MRO services, parts distribution, supply chain management and logistics, engineering support, and consulting and training services for global commercial, federal, military and defense customers. VSE also provides information technology and energy consulting services. For additional information regarding VSE’s products and services, visit www.vsecorp.com.Story continuesFORWARD-LOOKING STATEMENTSThis press release contains certain forward-looking statements. These forward-looking statements, which are included in accordance with the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, may involve known and unknown risks, uncertainties and other factors that may cause VSE’s actual results to vary materially from those indicated or anticipated by such statements. Many factors could cause actual results and performance to be materially different from any future results or performance, including, among others, the risk factors described in our reports filed or expected to be filed with the SEC. Any forward-looking statement or statement of belief speaks only as of the date of this press release. We undertake no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results.View source version on businesswire.com: https://www.businesswire.com/news/home/20230905966408/en/ContactsINVESTOR RELATIONS CONTACT: Michael PerlmanVice President of Investor Relations and CommunicationsPhone: (954) 547-0480Email: [email protected]

Business Wire

VSE Corporation Announces September 2023 Investor Conference Schedule

https://finance.yahoo.com/news/vse-corporation-announces-september-2023-120000621.html

074b495d-40e5-33bf-a456-2572e275ca02

VTGN

Anderson succeeds Jerrold Dotson who is retiring after a distinguished decade-long career with VistagenSOUTH SAN FRANCISCO, Calif., August 22, 2023--(BUSINESS WIRE)--Vistagen (NASDAQ: VTGN) a late clinical-stage biopharmaceutical company aiming to transform the treatment landscape for individuals living with anxiety, depression and other central nervous system (CNS) disorders, today announced the appointment of Cindy Anderson as Chief Financial Officer (CFO), effective August 21, 2023. Ms. Anderson will succeed Jerrold Dotson, whose planned retirement was announced in July of this year."We are delighted to welcome Ms. Anderson, an experienced and highly accomplished finance professional, to our team," said Shawn Singh, Chief Executive Officer of Vistagen. "As CFO, Ms. Anderson will leverage deep experience in corporate strategic and financial operations while managing finance and growth objectives as we work to bring novel CNS treatments to patients. On behalf of Vistagen, I’d like to express our sincere gratitude to Mr. Dotson for his dedicated service and invaluable contributions to the company during his remarkable tenure. As he embarks on his retirement, we extend our best wishes for success and fulfillment in the future. At the same time, we remain steadfast in our work to advance our mission and enthusiastically welcome Ms. Anderson to our accomplished team."Ms. Anderson brings almost two decades of financial and operating strength from her experiences in the biotechnology sector. She joins Vistagen from Alnylam Pharmaceuticals where she served as the Chief Accounting Officer, focused on strategic and financial operations. Prior to Alnylam, she served in various roles of increasing responsibility at Alexion Pharmaceuticals and at Ernst & Young. Ms. Anderson began her career at PricewaterhouseCoopers and is a certified public accountant. Ms. Anderson holds a B.S. in Business Administration from the University of Connecticut and a M.S. in Accounting from the University of Texas at Dallas. She earned her CPA in Texas.Story continuesAbout VistagenVistagen (Nasdaq: VTGN) is a late clinical-stage biopharmaceutical company aiming to transform the treatment landscape for individuals living with anxiety, depression and other CNS disorders. Vistagen is advancing therapeutics with the potential to be faster-acting, and with fewer side effects and safety concerns, than those currently available for the treatment of anxiety, depression and multiple CNS disorders. Vistagen's pipeline includes six clinical-stage product candidates, including fasedienol (PH94B), itruvone (PH10), PH15, PH80, and PH284, each an investigational agent belonging to a new class of drugs known as pherines, as well as AV-101, which is an oral prodrug of an antagonist of the N-methyl-D-aspartate receptor (NMDAR). Pherines are neuroactive nasal sprays designed with an innovative proposed mechanism of action that activates chemosensory neurons in the nasal cavity and can beneficially impact key neural circuits in the brain without systemic absorption or direct activity on neurons in the brain. Vistagen is passionate about transforming mental health care and redefining what is possible in the treatment of anxiety, depression and several other CNS disorders. Connect at www.Vistagen.com.Forward-Looking StatementsThis press release contains certain forward-looking statements within the meaning of the federal securities laws. These forward-looking statements involve known and unknown risks that are difficult to predict and include all matters that are not historical facts. In some cases, you can identify forward-looking statements by the use of words such as "may," "could," "expect," "project," "outlook," "strategy," "intend," "plan," "seek," "anticipate," "believe," "estimate," "predict," "potential," "strive," "goal," "continue," "likely," "will," "would" and variations of these terms and similar expressions, or the negative of these terms or similar expressions. Such forward-looking statements are necessarily based upon estimates and assumptions that, while considered reasonable by Vistagen and its management, are inherently uncertain. These risks and uncertainties are fully discussed in the section entitled "Risk Factors" in our most recent Annual Report on Form 10-K for the year ended March 31, 2023, and in our most recent Quarterly Report on Form 10-Q for the quarter ended June 30, 2023, as well as discussions of potential risks, uncertainties, and other important factors in our other filings with the U.S. Securities and Exchange Commission (SEC). Our SEC filings are available on the SEC’s website at www.sec.gov. In addition, any forward-looking statements represent our views only as of the issuance of this release and should not be relied upon as representing our views as of any subsequent date. We explicitly disclaim any obligation to update any forward-looking statements.View source version on businesswire.com: https://www.businesswire.com/news/home/20230822149790/en/ContactsInvestors Mark McPartlandSenior Vice President, Investor Relations(650) [email protected] Nate [email protected]

Business Wire

Vistagen Appoints Cindy Anderson as Chief Financial Officer

https://finance.yahoo.com/news/vistagen-appoints-cindy-anderson-chief-123000481.html

23554f6a-12f6-39e7-8d79-61ad7b431805

VTGN

Vistagen to receive $1.5 million and Fuji to obtain time-limited exclusive negotiation period for the Japanese marketRecently reported exploratory Phase 2A study in women diagnosed with menopausal hot flashes demonstrated PH80’s statistically significant reduction in the number of hot flashes and the severity, disruption in function, and sweating related to hot flashes as compared with placeboSOUTH SAN FRANCISCO, Calif. & TOKYO, September 05, 2023--(BUSINESS WIRE)--Vistagen (Nasdaq: VTGN), a clinical-stage biopharmaceutical company aiming to transform the treatment landscape for individuals living with anxiety, depression, and other central nervous system (CNS) disorders, and Fuji Pharma Co., Ltd. ("Fuji") (TSE: 4554), a pharmaceutical company specializing in development, manufacture and marketing in the fields of women’s healthcare and acute medical care, today announced they have entered into a time-limited (up to approximately eighteen months) agreement to negotiate exclusively with each other regarding a potential license to develop and commercialize Vistagen’s PH80 in Japan, including for the acute treatment of moderate to severe vasomotor symptoms (hot flashes) due to menopause and potentially other indications. Vistagen’s PH80 neuroactive nasal spray demonstrated statistically significant efficacy versus placebo in an exploratory double-blind, placebo-controlled Phase 2A study in women diagnosed with menopausal hot flashes. Fuji will make a non-refundable payment of $1.5 million to secure the time-limited exclusive negotiation rights for the Japanese market.This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230905339975/en/"As we have seen across our neuroactive pherine nasal spray pipeline, PH80 offers exciting potential to transform a significant segment of a major healthcare market, including the current treatment landscape for women’s healthcare," said Shawn Singh, CEO of Vistagen. "Menopausal hot flashes affect millions of women worldwide. We share Fuji Pharma’s long-standing commitment to deliver innovative treatment options with potential to enable women to improve their physical, mental and social well-being. As we continue to advance our PH80 development program in the U.S., we look forward to continuing our ongoing discussions with Fuji regarding a potential development and commercialization collaboration in Japan."Story continues"Our core mission at Fuji Pharma centers on helping people lead healthy lives by offering excellent pharmaceutical solutions. We believe that PH80 will provide new treatment options to improve the quality of life and further strengthen our position as one of the best Japanese specialty pharmaceutical companies in women’s health," said Takayuki Iwai, President & CEO of Fuji. "We will continue to engage in dialogue with Vistagen, anticipating that successful development of PH80 will contribute to women's health in Japan."About PH80PH80 is a rapid-onset neuroactive pherine nasal spray product candidate designed to be used in a manner analogous to a rescue inhaler for asthma, taken by patients as-needed up to multiple times daily. Several pharmacokinetic and toxicokinetic studies show that PH80 administered intranasally is below the level of detection in plasma of human subjects and laboratory animals. Based on other studies conducted by Vistagen, pherine molecules have no detectable uptake in the brain and do not absorb systemically. All these data, along with the minimal adverse events reported in all clinical studies to date, demonstrate the excellent safety profile of this new class of molecules. In a placebo-controlled exploratory Phase 2A clinical trial, PH80 demonstrated an excellent safety profile and potential as a new treatment for moderate to severe vasomotor symptoms (hot flashes) associated with menopause.About Vasomotor Symptoms (Hot Flashes) due to MenopauseHot flashes are vasomotor symptoms (VMS) commonly experienced by women in menopause and are accompanied by hallmark symptoms such as sudden feelings of warmth, night sweats and flushed skin. Presentation of hot flashes is directly linked to changes in hormone levels due to menopause, or to menopause induced by other medical treatments or co-existing conditions, and the causal mechanism is unclear. Hot flashes are the most common symptom of the menopausal transition, affecting about 75% of menopausal women and about 40% of women in perimenopause. Current pharmacotherapies to treat hot flashes include hormonal therapy (estrogen with or without progesterone, or a synthetic progestin), gabapentins, certain antidepressants, clonidine and fezolinetant, a neurokinin 3 (NK3) receptor antagonist, all of which are associated with certain side effects.About Exploratory Phase 2A Study of PH80 in Vasomotor Symptoms (Hot Flashes) due to MenopauseIn a randomized, double-blind, placebo-controlled exploratory Phase 2A clinical study of PH80 (n=36) designed to explore the efficacy, safety and tolerability of intranasal administration of PH80 for the acute management of menopausal hot flashes in women, PH80 induced significant reduction in the daily number of hot flashes compared to placebo at the end of the first week of treatment, and the improvement was maintained through each treatment week until the end of the treatment period. At baseline, subjects reported a mean daily number of hot flashes of 7.7 (PH80, n=18) and 8.0 (placebo, n=18). After one week of treatment, the number of hot flashes dropped to 2.8 (PH80) and 6.4 (placebo) (p<0.001) and after four weeks of treatment the number of hot flashes dropped to 1.5 (PH80) and 5.1 (placebo) (p<0.001). PH80 treatment also significantly reduced the severity, disruption in function and sweating related to hot flashes during the treatment period as compared with placebo. This exploratory Phase 2A study of PH80 was conducted in a real-world setting in Mexico and was sponsored by Pherin Pharmaceuticals (Pherin), now a wholly owned subsidiary of Vistagen, prior to Vistagen’s acquisition of Pherin in February 2023. Ellen Freeman, Ph.D. of the University of Pennsylvania served as the Principal Investigator of the study.About VistagenVistagen (Nasdaq: VTGN) is a clinical-stage biopharmaceutical company aiming to transform the treatment landscape for individuals living with anxiety, depression and other CNS disorders. Vistagen is advancing therapeutics with the potential to be faster-acting, and with fewer side effects and safety concerns, than those currently available for the treatment of anxiety, depression and multiple CNS disorders. Vistagen's pipeline includes six clinical-stage product candidates, including fasedienol (PH94B), itruvone (PH10), PH80, PH15, and PH284, with each of these being an investigational agent belonging to a new class of drugs known as pherines, as well as AV-101, which is an oral prodrug of an antagonist of the N-methyl-D-aspartate receptor (NMDAR). Pherines are neuroactive nasal sprays designed with an innovative proposed mechanism of action that activates chemosensory neurons in the nasal cavity and can beneficially impact key neural circuits in the brain without systemic absorption or direct activity on neurons in the brain. Vistagen is passionate about transforming mental health care and redefining what is possible in the treatment of anxiety, depression and several other CNS disorders. Connect at www.Vistagen.com.About FujiFuji is a Tokyo Stock Exchange (TSE) listed, Japan-based pharmaceutical company mainly engaged in the manufacture and sale of prescription based pharmaceutical products. Since our establishment in 1965, Fuji has promoted corporate philosophy that "We help people lead healthy lives by offering excellent pharmaceuticals." and "Our corporate growth is proportional to our personal growth." Fuji focuses on the field of women's health care with a wide variety of new and generic drugs for women's specific diseases such as infertility, dysmenorrhea, endometriosis, contraception, and menopausal disorders. Fuji aims to be a leading company in women's healthcare and support health of women of all ages. https://www.fujipharma.jpForward-looking StatementsThis press release contains certain forward-looking statements within the meaning of the federal securities laws. These forward-looking statements involve known and unknown risks that are difficult to predict and include all matters that are not historical facts. In some cases, you can identify forward-looking statements by the use of words such as "may," "could," "expect," "project," "outlook," "strategy," "intend," "plan," "seek," "anticipate," "believe," "estimate," "predict," "potential," "strive," "goal," "continue," "likely," "will," "would" and variations of these terms and similar expressions, or the negative of these terms or similar expressions. Such forward-looking statements are necessarily based upon estimates and assumptions that, while considered reasonable by Vistagen and its management, are inherently uncertain. As with all pharmaceutical products, there are substantial risks and uncertainties in the process of development and commercialization, and actual results or development may differ materially from those projected or implied in these forward-looking statements. Among other things, there can be no guarantee that any of the Company’s drug candidates will successfully complete ongoing or future clinical trials, receive regulatory approval or be commercially successful, or that the Company will be able to successfully replicate the result of past studies of its product candidates, including PH80. Other factors that may cause such a difference include, without limitation, risks and uncertainties relating to the Company’s ability to secure adequate financing for its operations, including financing or collaborative support for continued clinical development of the Company’s product candidates; other risks and uncertainties related to delays in launching, conducting and/or completing ongoing and planned clinical trials; the scope and enforceability of the Company’s patents, including patents related to PH80 and the Company’s other pherine drug candidates; fluctuating costs of materials and other resources and services required to conduct the Company’s ongoing and/or planned clinical and non-clinical trials; market conditions; the impact of general economic, industry or political conditions in the United States or internationally; and other technical and unexpected hurdles in the development, manufacture and commercialization of the Company’s drug candidates. These risks are more fully discussed in the section entitled "Risk Factors" in the Company’s most recent Annual Report on Form 10-K for the fiscal year ended March 31, 2023, and in the Company’s most recent Quarterly Report on Form 10-Q for the quarter ended June 30, 2023, as well as discussions of potential risks, uncertainties, and other important factors in our other filings with the U.S. Securities and Exchange Commission (SEC). The Company’s SEC filings are available on the SEC’s website at www.sec.gov. Additionally, you should not place undue reliance on these forward-looking statements in the future, because they apply only as of the date of this press release and should not be relied upon as representing the Company’s views as of any subsequent date. The Company explicitly disclaims any obligation to update any forward-looking statements, other than as may be required by law. If the Company does update one or more forward-looking statements, no inference should be made that the Company will make additional updates with respect to those or other forward-looking statements.View source version on businesswire.com: https://www.businesswire.com/news/home/20230905339975/en/ContactsInvestors:VistagenMark McPartlandSenior Vice President, Investor Relations(650) [email protected] Pharma Co., Ltd.Corporate Communication Section, Corporate Planning Department, Corporate Strategy [email protected]:Nate [email protected]

Business Wire

Vistagen and Fuji Enter Exclusive Negotiation Agreement for a Potential License to Develop and Commercialize Vistagen’s Investigational Menopausal Hot Flash Therapy, PH80 Nasal Spray, in Japan

https://finance.yahoo.com/news/vistagen-fuji-enter-exclusive-negotiation-130000375.html

11c65570-8d77-3feb-9caf-1e4a50e465c6

VTOL

Bristow secured early delivery positions via deposit and will receive some of the first commercially certified Elroy Air Chaparral aircraft off the production lineThe Chaparral will carry 300 pounds (136 kg) of cargo over a 300-mile (482 km) range with its hybrid-electric powertrain and simple, redundant vertical and forward-flight propulsorsBristow plans to use the Chaparral internationally to move time-sensitive cargo for logistics, healthcare, and energy applicationsBristow has pre-ordered up to 100 Chaparral aircraftSAN FRANCISCO and HOUSTON, Sept. 5, 2023 /PRNewswire/ -- Bristow Group Inc. (NYSE: VTOL), the world's leading global provider of innovative and sustainable vertical flight solutions, has reserved early delivery slots for five of Elroy Air's vertical take-off and landing (VTOL) cargo systems, the Chaparral. Bristow signed a Letter of Intent (LOI) with Elroy Air to pre-order 100 Chaparral hybrid-electric cargo VTOL aircraft last year.The Chaparral will be the first of its kind VTOL aircraft dedicated to cargo movement to be introduced into Bristow's aircraft fleet. Bristow plans to use the Chaparral internationally to move time-sensitive cargo for logistics, healthcare, and energy applications."There is an increasing demand for the movement of time-sensitive cargo for logistics, health care and energy applications. Securing these early delivery positions underscores our commitment to leading the Advanced Air Mobility market and builds on our 75+ year legacy of vertical lift innovations," said Bristow Executive Vice President and Chief Transformation Officer Dave Stepanek. "At Bristow, we're excited to usher in a new era of vertical lift operations and collaborate with Elroy Air to meet the emerging market of express shipping cargo in cities and regions without relying on existing or new airport infrastructure."The Chaparral is a "lift plus cruise" hybrid eVTOL cargo aircraft that leverages the benefits of both conventional turbines and electric propulsion, for efficient autonomous operation and longer range. Engineered with an advanced carbon composite airframe, Chaparral can be configured to ship inside a 40-foot container or in aircraft for rapid global deployment.Story continuesElroy Air has introduced advanced modular cargo pods that complement the Chaparral's capabilities. The pods are pre-loaded by ground personnel and autonomously retrieved by the Chaparral aircraft before takeoff. Upon arrival at the delivery location, the aircraft autonomously lowers the pod to the ground. The Chaparral aircraft then retrieves the next pre-packed pod, creating a seamless bi-directional conveyor belt through the sky."Getting to this stage of the process – reserved delivery positions secured with deposits, underscores our relationship built with Bristow and we are extremely pleased to be at this stage in development," said Elroy Air's VP of Business Development and Strategy, Kofi Asante. "Bristow's expertise is a strong catalyst for bringing new aircraft like ours to the market. Their rotorcraft expertise, global footprint, and innovative mindset have made them a strong partner and we are excited for the next chapter together. We look forward to seeing the Chaparral operate internationally as part of the Bristow fleet."Forward-Looking Statements DisclosureThis press release contains "forward-looking statements." Forward-looking statements represent Bristow Group Inc.'s (the "Company") current expectations or forecasts of future events. Forward-looking statements generally can be identified by the use of forward-looking terminology such as "may," "will," "expect," "intend," "estimate," "anticipate," "believe," "project," or "continue," or other similar words. These statements are made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, reflect management's current views with respect to future events and therefore are subject to significant risks and uncertainties, both known and unknown. Without limiting the generality of the foregoing, such forward-looking statements include statements regarding the capabilities, development, certification, marketing, and future operations of Elroy Air's hybrid-electric aircraft, the Company's purchase of aircraft from Elroy Air, and the anticipated benefits of the collaboration between the Company and Elroy Air. The Company's actual results may vary materially from those anticipated in forward-looking statements. The Company cautions investors not to place undue reliance on any forward-looking statements.Forward-looking statements speak only as of the date of the document in which they are made. The Company disclaims any obligation or undertaking to provide any updates or revisions to any forward-looking statement to reflect any change in the Company's expectations or any change in events, conditions or circumstances on which the forward-looking statement is based that occur after the date hereof. You should not place undue reliance on our forward-looking statements because the matters they describe are subject to known and unknown risks, uncertainties and other unpredictable factors, many of which are beyond our control. Our forward-looking statements are based on the information currently available to us and speak only as of the date hereof. New risks and uncertainties arise from time to time, and it is impossible for us to predict these matters or how they may affect us. We have included important factors in the section entitled "Risk Factors" in the Company's Transition Report on Form 10-KT for the year ended December 31, 2022 (the "Transition Report") which we believe over time, could cause our actual results, performance, or achievements to differ from the anticipated results, performance or achievements that are expressed or implied by our forward-looking statements. You should consider all risks and uncertainties disclosed in the Transition Report and in our filings with the United States Securities and Exchange Commission (the "SEC"), all of which are accessible on the SEC's website at www.sec.gov.About Bristow GroupBristow Group Inc. is the leading global provider of innovative and sustainable vertical flight solutions. Bristow primarily provides aviation services to a broad base of offshore energy companies and government entities. Bristow's aviation services include personnel transportation, search and rescue ("SAR"), medevac, fixed-wing transportation, uncrewed air systems and ad hoc helicopter services. Bristow currently has customers in Australia, Brazil, Canada, Chile, the Dutch Caribbean, the Falkland Islands, India, Mexico, the Netherlands, Nigeria, Norway, Spain, Suriname, Trinidad, the U.K., and the U.S. To learn more, visit our website at www.bristowgroup.com.About Elroy AirElroy Air is developing industry-first autonomous aircraft systems and cutting-edge software solutions, revolutionizing the world of express shipping. Leveraging hybrid-electric and autonomous vehicle technologies, their vertical-takeoff-and-landing (VTOL) systems transcend traditional airport limitations, unlocking new frontiers in commercial air cargo. From swift autonomous resupply for troops to dynamic disaster response and firefighting support, their technology reshapes logistics possibilities. With headquarters in South San Francisco, California, Elroy Air is backed by premier venture capital firms including Catapult Ventures, Marlinspike Capital, Snowpoint Ventures, and Shield Capital. Strategic investments from industry giants like Lockheed Martin Ventures and, alongside support from visionary angel investors including early Uber executives, drive our mission to provide same-day delivery to every person on the planet. For more information, visit http://elroyair.com.Elroy Air Contact Media:Casey [email protected] ContactsInvestorsJennifer [email protected]   MediaAdam [email protected] CisionView original content:https://www.prnewswire.com/news-releases/bristow-secures-early-delivery-positions-for-five-elroy-air-chaparral-aircraft-301917431.htmlSOURCE Bristow Group

PR Newswire

Bristow Secures Early Delivery Positions for Five Elroy Air Chaparral Aircraft

https://finance.yahoo.com/news/bristow-secures-early-delivery-positions-123000918.html

98fbbdd4-3931-35d5-9d39-78dc95354ccc

VTOL

Bristow places firm order for two Volocopter VoloCity eVTOL aircraft with an option to purchase an additional 78 aircraftBristow and Volocopter will explore eVTOL passenger and cargo transport services in the U.S. and U.K.HOUSTON and BRUCHSAL, Germany, Sept. 7, 2023 /PRNewswire/ -- Bristow Group Inc. (NYSE: VTOL), the leading global provider of innovative and sustainable vertical flight solutions, and Volocopter, the pioneer of Urban Air Mobility (UAM), have signed an agreement to explore and develop passenger and cargo services for electric vertical takeoff and landing (eVTOL) aircraft in the U.S. and U.K.Volocopter VoloCity eVTOL aircraftAs part of this collaboration, Bristow has placed a firm order for two VoloCity aircraft to be delivered after certification with an option to purchase a further 78 vehicles in the future. Both parties will begin immediate cooperation to build a UAM ecosystem that includes regulatory discussions, infrastructure exploration, and local partnership building.The joint development agreement covers the exploration of commercial, operational, and eVTOL aircraft maintenance services, including adaptation of the VoloIQ, Volocopter's proprietary digital platform, to ensure Bristow's efficient future operations. This collaboration brings forth a wealth of aviation expertise – Bristow's reliable vertical flight operations and an existing global service network, as well as Volocopter's dedicated development and certification of a safe, quiet, and sustainable eVTOL aircraft.The eVTOL is a rapidly growing segment of electric aviation. With no emissions in flight and an ultra-low noise signature, the addition of the VoloCity to Bristow's operational fleet opens doors to new routes and service opportunities within urban environments.Volocopter expects to receive final certification from the European Union Aviation Safety Agency (EASA) in 2024, while concurrent certification from the Federal Aviation Administration (FAA) could enable the Company to start commercial services in the U.S. shortly thereafter.Story continuesDave Stepanek, Executive Vice President, and Chief Transformation Officer for Bristow said: "Launching this collaborative effort with Volocopter marks a major milestone in Bristow's effort to usher in a new era of vertical transportation solutions. Volocopter has taken a pragmatic approach to certification with a simple and elegant initial aircraft design and is leading the pack in its efforts to bring their aircraft to market. We are looking forward to lending our 75+ years of innovation and expertise in bringing new aircraft into service and developing new markets side-by-side Volocopter."Christian Bauer, CFO & CCO of Volocopter, added: "Our partnership with Bristow and the firm VoloCity orders received propels us forward as we unlock new markets. With this collaboration, Volocopter surpassed 500 pre-orders accumulated including nearly 30 firm orders from reputational partners. I am filled with excitement toward the vast potential of the U.S. and U.K. markets and looking forward to working with Bristow's experienced team as we prepare for operations."Forward-Looking Statements DisclosureThis press release contains "forward-looking statements." Forward-looking statements represent Bristow Group Inc.'s (the "Company") current expectations or forecasts of future events. Forward-looking statements generally can be identified by the use of forward-looking terminology such as "may," "will," "expect," "intend," "estimate," "anticipate," "believe," "project," or "continue," or other similar words. These statements are made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, reflect management's current views with respect to future events and therefore are subject to significant risks and uncertainties, both known and unknown. Without limiting the generality of the foregoing, such forward-looking statements include statements regarding the capabilities, development, certification, marketing, and future operations of Volocopter's VoloCity eVTOL aircraft, the Company's purchase of aircraft from Volocopter, and the anticipated benefits of the collaboration between the Company and Volocopter. The Company's actual results may vary materially from those anticipated in forward-looking statements. The Company cautions investors not to place undue reliance on any forward-looking statements.Forward-looking statements speak only as of the date of the document in which they are made. The Company disclaims any obligation or undertaking to provide any updates or revisions to any forward-looking statement to reflect any change in the Company's expectations or any change in events, conditions, or circumstances on which the forward-looking statement is based that occur after the date hereof. You should not place undue reliance on our forward-looking statements because the matters they describe are subject to known and unknown risks, uncertainties, and other unpredictable factors, many of which are beyond our control. Our forward-looking statements are based on the information currently available to us and speak only as of the date hereof. New risks and uncertainties arise from time to time, and it is impossible for us to predict these matters or how they may affect us. We have included important factors in the section entitled "Risk Factors" in the Company's Transition Report on Form 10-KT for the year ended December 31, 2022 (the "Transition Report") which we believe over time, could cause our actual results, performance, or achievements to differ from the anticipated results, performance or achievements that are expressed or implied by our forward-looking statements. You should consider all risks and uncertainties disclosed in the Transition Report and in our filings with the United States Securities and Exchange Commission (the "SEC"), all of which are accessible on the SEC's website at www.sec.gov.About Bristow GroupBristow Group Inc. is the leading global provider of innovative and sustainable vertical flight solutions. Bristow primarily provides aviation services to a broad base of offshore energy companies and government entities. Bristow's aviation services include personnel transportation, search and rescue ("SAR"), medevac, fixed-wing transportation, uncrewed air systems and ad hoc helicopter services. Bristow currently has customers in Australia, Brazil, Canada, Chile, the Dutch Caribbean, the Falkland Islands, India, Mexico, the Netherlands, Nigeria, Norway, Spain, Suriname, Trinidad, the U.K., and the U.S. To learn more, visit our website at www.bristowgroup.com.About Volocopter  Volocopter brings urban air mobility (UAM) to megacities worldwide. We aim to improve the quality of life for people in cities by offering a fantastic new mode of transportation. For that, we create sustainable and scalable UAM ecosystems with partners in infrastructure and operations. Volocopter's family of eVTOL aircraft will offer passengers (VoloCity and VoloRegion) and goods (VoloDrone) swift, secure, and emission-free connections to their destinations, supported by VoloIQ, the UAM ecosystem's software platform that serves as its digital backbone for safe and efficient operations.As a pioneer in the UAM industry, Volocopter will launch commercial services within the next few years. Founded in 2011, the company employs more than 500 people in Germany and Singapore, has completed over 1,500 successful public and private test flights, and has diverse investors, including Geely, NEOM, Mercedes-Benz Group, Intel Capital, and BlackRock. www.volocopter.comBristow ContactsInvestorsJennifer [email protected]  MediaAdam [email protected] original content to download multimedia:https://www.prnewswire.com/news-releases/bristow-and-volocopter-to-bring-uam-services-to-us-and-uk-301920419.htmlSOURCE Bristow Group

PR Newswire

Bristow and Volocopter to Bring UAM Services to U.S. and U.K.

https://finance.yahoo.com/news/bristow-volocopter-bring-uam-services-123000279.html

b6800ccc-cbce-358e-9e90-e37e80c54761

VTR

Sept 10 (Reuters) - Activist investor Jonathan Litt is seeking board changes at the real-estate investment trust Ventas , the Wall Street Journal reported on Sunday.Litt's Land & Buildings Investment Management said changes are required to reverse the underperformance at the company, the report said, citing a letter that the Journal said it reviewed. Litt plans to send the letter to the company's shareholders, the Journal reported. (Reporting by Anirudh Saligrama in Bengaluru; Editing by Leslie Adler)

Reuters

Activist investor Litt seeks board changes at Ventas -WSJ

https://finance.yahoo.com/news/activist-investor-litt-seeks-board-222013591.html

f5f345b9-1452-38fe-b591-e90d91d8331c

VTR

(Adds details from WSJ report in paragraph 3, background in paragraphs 5-6)Sept 10 (Reuters) - Activist investor Jonathan Litt is seeking board changes at the real-estate investment trust Ventas , the Wall Street Journal reported on Sunday.Litt's Land & Buildings Investment Management said changes are required to reverse the underperformance at the company, the report said, citing a letter that the Journal said it reviewed. Litt plans to send the letter to the company's shareholders, the Journal reported.Land & Buildings said in the letter that it would do "whatever is necessary" to turn things around, which could include nominating multiple directors, the report said.Both Ventas and Land & Buildings did not immediately respond to Reuters requests for comment.Land & Buildings had entered into a proxy battle with the company in 2022. Litt nominated himself as a director candidate to win a board seat, but the effort fell short and he withdrew the nomination.Land & Buildings investor owns about $50 million of Ventas' shares, amounting to a stake of less than 1%, according to the WSJ report.(Reporting by Anirudh Saligrama in Bengaluru; Editing by Leslie Adler)

Reuters

UPDATE 1-Activist investor Litt seeks board changes at Ventas -WSJ

https://finance.yahoo.com/news/1-activist-investor-litt-seeks-224110568.html

aa1fbf1d-f890-3572-a690-c78c5f979203

VTRS

Viatris Inc (NASDAQ:VTRS), a pharmaceutical giant formed through the merger of Upjohn and Mylan, experienced a -4.1% change in its stock price recently. Despite this, the company showed a 8.32% gain over the last three months. With an Earnings Per Share (EPS) (EPS) of 1.53, it raises the question: Is Viatris (NASDAQ:VTRS) fairly valued? In this article, we will conduct a thorough valuation analysis to answer this question. Read on for an in-depth exploration of Viatris's intrinsic value.Introduction to Viatris Inc (NASDAQ:VTRS)Warning! GuruFocus has detected 5 Warning Signs with VTRS. Click here to check it out. VTRS 30-Year Financial DataThe intrinsic value of VTRSViatris was formed in November 2020 through the combination of Upjohn, a wholly owned subsidiary of Pfizer that specialized in off-patent drugs, and Mylan, a global pharmaceutical manufacturer that focused on generic and specialty drugs. This merger propelled Viatris into one of the largest generic drug manufacturers in the world, servicing over 165 countries. Generics (commoditized and complex) and biosimilars make up roughly 40% of Viatris's total sales. The remaining 60% of sales is derived from its portfolio of legacy products which includes Lipitor, Norvasc, Lyrica, and Viagra. While it covers more than 10 major therapeutic areas, Viatris has identified dermatology, ophthalmology, and gastroenterology as its three key areas of focus for future innovations.Unveiling Viatris (VTRS)'s Value: Is It Really Priced Right? A Comprehensive GuideUnderstanding the GF ValueThe GF Value is a unique measure that offers an estimate of a stock's intrinsic value. This value is calculated based on historical trading multiples, a GuruFocus adjustment factor based on the company's past returns and growth, and future estimates of business performance. The GF Value Line provides an overview of the fair value at which the stock should ideally be traded.According to GuruFocus Value calculation, Viatris (NASDAQ:VTRS) appears to be fairly valued. At its current price of $10.19 per share and a market cap of $12.20 billion, the stock aligns closely with the GF Value Line. This suggests that the long-term return of Viatris's stock is likely to be close to the rate of its business growth.Story continuesUnveiling Viatris (VTRS)'s Value: Is It Really Priced Right? A Comprehensive GuideFinancial Strength AnalysisInvesting in companies with poor financial strength can lead to a higher risk of permanent capital loss. Therefore, it's crucial to review the financial strength of a company before purchasing its stock. The cash-to-debt ratio and interest coverage are great starting points for understanding a company's financial strength. Viatris has a cash-to-debt ratio of 0.04, which is lower than 92.12% of 1053 companies in the Drug Manufacturers industry. This indicates that Viatris's financial strength is relatively poor.Unveiling Viatris (VTRS)'s Value: Is It Really Priced Right? A Comprehensive GuideProfitability and GrowthInvesting in profitable companies, especially those that have demonstrated consistent profitability over the long term, typically poses less risk. Viatris has been profitable 8 over the past 10 years. Over the past twelve months, the company had a revenue of $15.60 billion and Earnings Per Share (EPS) of $1.53. Its operating margin is 7.38%, which ranks better than 54.74% of 1034 companies in the Drug Manufacturers industry.Growth is a crucial factor in a company's valuation. A faster-growing company creates more value for shareholders, especially if the growth is profitable. However, Viatris's 3-year average annual revenue growth is -15.7%, ranking lower than 87.72% of 912 companies in the Drug Manufacturers industry. The 3-year average EBITDA growth rate is 0.5%, which is worse than 66.82% of 883 companies in the same industry.ROIC vs WACCComparing a company's return on invested capital (ROIC) to its weighted average cost of capital (WACC) can determine its profitability. ROIC measures how well a company generates cash flow relative to the capital it has invested in its business. WACC is the rate that a company is expected to pay on average to all its security holders to finance its assets. When the ROIC is higher than the WACC, it implies the company is creating value for shareholders. For Viatris, the ROIC is 1.88, and its WACC is 5.22.Unveiling Viatris (VTRS)'s Value: Is It Really Priced Right? A Comprehensive GuideConclusionIn conclusion, Viatris's stock appears to be fairly valued. The company's financial condition is poor, and its profitability is fair. Its growth ranks lower than 66.82% of 883 companies in the Drug Manufacturers industry. To learn more about Viatris stock, check out its 30-Year Financials here.To find out the high-quality companies that may deliver above-average returns, please check out the GuruFocus High Quality Low Capex Screener.This article first appeared on GuruFocus.

GuruFocus.com

Unveiling Viatris (VTRS)'s Value: Is It Really Priced Right? A Comprehensive Guide

https://finance.yahoo.com/news/unveiling-viatris-vtrs-value-really-163359245.html

f8d5b634-bcea-3376-9314-15547ab401f6

VTRS

On average, healthcare stocks haven't kept up with the gains made by the rest of the market this year. Viatris (NASDAQ: VTRS), GSK (NYSE: GSK), and Organon (NYSE: OGN) are too inexpensive to pass up at this point. Let's look at some other reasons these three pharmaceutical stocks are too cheap to ignore.Continue reading

Motley Fool

3 Pharmaceutical Stocks That Are Too Cheap to Ignore

https://finance.yahoo.com/m/db453150-3c6f-34aa-babc-2c6856db6638/3-pharmaceutical-stocks-that.html

db453150-3c6f-34aa-babc-2c6856db6638

VTS

Final Call for One-on-One Meeting Requests for all Companies by Institutional Investors, Portfolio Managers, Financial Analysts, CIOs, and Other Investment Industry Professionals.World Class Energy Companies to Present; Presentation Times and Schedule for All Participating Companies Now Posted on the Conference Website  www.enercomdenver.comInvestors, Analysts, and Energy Industry Professionals Can Still Register to Attend EnerCom Denver – The Energy Investment Conference at www.enercomdenver.comDENVER, Aug. 8, 2023 /PRNewswire/ -- EnerCom, Inc. has finalized presentation times and schedule for participating companies on the conference website for the 28th Annual EnerCom Denver – The Energy Investment Conference, to be held August 13-16, 2023, in Denver, ColoradoThis year's schedule includes a broad group of producers; midstream and oilfield service companies; emerging energy-related technology; alternative energy and traditional oil and gas start-up ventures; panels on SEC and ESG Disclosure and Compliance Trends, Carbon Capture, Private Companies, Mergers, Acquisitions and Dispositions and Oilfield Services; and insightful keynote speakers.All conference presentations and panels will be live webcast and can be viewed on the EnerCom Denver website at www.enercomdenver.com.A complete list of presentation times for all participating companies and schedule of events can be found on the conference website for EnerCom Denver – The Energy Investment Conference.  Investor presentations begin at 8:00 a.m. and run through 5:00 p.m. Mountain Time (presenters, days, and times are subject to change).The Energy Transition and Emerging Technology Session, focused on energy-related technology, alternative energy and traditional oil and gas technology start-up ventures, takes place on Wednesday, August 16th.Presenting company lineup as of August 7, 2023, includes:Amplify Energy (NYSE: AMPY)APA Corporation (NASDAQ: APA)Aureus Energy ServicesBayswaterBaytex Energy (TSX/ NYSE: BTE)Berry Corporation (NYSE: BRY)Canacol Energy (TSX: CNE)Crescent MidstreamCureton MidstreamDistributionNOW (NYSE: DNOW)Donovan VenturesEarthstone Energy (NYSE: ESTE)EnerCom Inc.Flotek Industries (NYSE: FTK)Forum Energy Technologies (NYSE: FET)GeoPark (NYSE: GPRK)Granite Ridge Resources (NYSE: GRNT)GranTierra Energy (NYSE: GTE, TSX: GTE)Kolibri Global Energy (TSX: KEI, OTCQX: KGEIF)Liberty Energy (NYSE: LBRT)LiTHOS - (CNSX: AMS.CN)Milestone CarbonMobius Risk GroupNCS Multistage (NASDAQ: NCSM)Nickle Road OperatingNuVista Energy (TSX: NVA)Obsidian Energy (TSX/ NYSE: OBE)Parex Resources (OTC: PARXF)Petrie PartnersPetroTal Corp. (TSXV: TAL)Pine Cliff Energy (TSX: PNE)Project GeminaeRanger Energy Services (NYSE: RNGR)RheopecticRing Energy (NYSE: REI)RW EnergySandRidge Energy (NYSE: SD)Seaport GlobalSelect Water Solutions (NYSE: WTTR)Shale IngenuitySilverBow Resources (NYSE: SBOW)SM Energy (NYSE: SM)Smart Sand (NASDAQ: SND)Strive Asset Management (NYSE: DRLL)Tenaz Energy (TSX: TNZ)Trinity Refining and Safety SystemsTriple R Energy PartnersU.S. Energy Development CorporationVAALCO Energy (NYSE: EGY)Vitesse Energy (NYSE: VTS)W&T Offshore (NYSE: WTI)Wasatch Energy ManagementXCL ResourcesStory continuesInstitutional investors, portfolio managers, financial analysts, CIOs and other investment industry professionals registered for the EnerCom Denver – The Energy Investment Conference can still request one-on-one meetings with the senior management teams of participating companies on the EnerCom Denver conference website.  The energy investment community and industry professionals are encouraged to register and make travel plans now for EnerCom Denver, which will take place August 13-16, 2023 at the Westin Denver Downtown.  There is no cost to register for qualified investment professionals and oil and gas company executives.The EnerCom Denver conference provides top-level access to oil and gas company C-suites. The four-day conference provides investors unparalleled access and networking opportunities, including one-on-one meetings with company management teams. Meetings are limited to qualified investors, including buy-side principals, portfolio managers, CIOs, and securities analysts.The conference kicks off with the annual Charity Golf Tournament on Sunday, August 13th at the scenic Arrowhead Golf Club. The golf event is sponsored by global sponsor Netherland, Sewell & Associates, as well as EnerCom, Studio X, Fortis Energy Services and SLS Group, providing a 2023 Porsche Macan prize at the hole-in-one tee box. The EnerCom Denver Golf Tournament is a fundraiser for IN! Pathways to Inclusive Higher Education with a mission to create inclusive college opportunities in Colorado for students with intellectual disabilities and to foster academic growth, social development, and career advancement. The charity golf tournament requires a $150 donation to participate.The EnerCom Denver conference will also host a Monday Mixer cocktail reception—held after day one of conference presentations—for attendees to enjoy appetizers, drinks, and live music as they mingle with key representatives from the energy industry.Following day two of the conference, the Colorado Rockies baseball game is a premier networking event that brings together all facets of the energy community. Attendees will enjoy networking with conference VIP suite sponsors and 200 EnerCom-invited conference executives and investors over drinks and game-day food in a setting that allows you to move freely between the contiguous sponsored suites to network, forge relationships, and enjoy a memorable summer evening at beautiful Coors Field.For the past 28 years, EnerCom Denver has been the largest independent investor conference for the oil and gas industry and broadening energy industry that is open to all energy companies, investors, and professionals to participate. EnerCom Denver is the go-to energy conference offering investment professionals an unparalleled opportunity to listen to the world's leading senior management teams outline their investment strategies and share their plans to drive development, fund operations, generate cash flow, and return value to stakeholders, and provides industry professionals a venue to learn about important topics currently affecting the global energy industry.Held at The Westin Denver Downtown hotel, EnerCom Denver annually hosts a large, in-person audience, including industry professionals, institutional and retail investors, high-net-worth individuals, family office investors, venture capital funds, and private equity funds. In addition, the conference live webcast reaches a large global audience of virtual attendees. Attendees can expect to hear presentations featuring public and private oil and gas companies with operations worldwide. In addition, there will be multiple panel discussions touching on various current energy topics.Conference Details: EnerCom Denver – The Energy Investment Conference in Denver offers investment professionals a unique opportunity to network and listen to senior management teams from leading companies across the energy value chain update investors on their operational and financial strategies and learn how the leading energy companies are building value in 2023.Conference Dates: August 13–16, 2023. EnerCom will host its annual charity golf tournament on Sunday, August 13th at the scenic Arrowhead Golf Club in Littleton, Colorado. The annual EnerCom Denver Golf Tournament is a fundraiser for IN! Pathways to Inclusive Higher Education requires a $150 donation to participate. The tournament is sponsored by Netherland, Sewell & Associates, EnerCom, Inc., Studio X, and new for 2023 will be a hole-in-one contest sponsored by SLS Group featuring a prize of a Porsche Macan.Formal presentations and meetings begin Monday, August 14th and go through to Wednesday, August 16th.Venue: The Westin Denver Downtown. We highly encourage attendees to book your hotel room under the EnerCom group block, as space is limited.Who Attends the Conference: Hundreds of institutional, private equity, and hedge fund investors, family offices, research analysts, retail brokers, trust officers, high net worth investors, investment bankers, and energy industry professionals gather in Denver throughout the conference.Qualified investment professionals and oil and gas company executives may register for the event at no cost through the conference website. Other conference registration classifications are also available for a fee.In addition to in-person access to all company presentations, panel discussions, and keynote speakers, the conference registration allows investors and management teams to meet formally and informally over cocktails, breakfast, and lunch.Conference Format and Details:  The EnerCom Denver conference follows EnerCom's familiar 25-minute presentation format, followed by 50-minute Q&A opportunities in separate breakout rooms, one-on-one meetings, and multiple networking opportunities.Presenter Inquiries: Companies interested in presenting at EnerCom Denver can contact Dan Genovese at [email protected] or Larry Busnardo at [email protected] One-on-One Meetings: Qualified investors can now request one-on-one meetings with company management teams through the conference website. Meetings are limited to institutional investors, buy-side principals, portfolio managers, CIOs, and securities analysts. EnerCom can work in advance with presenting company management teams to arrange one-on-one meetings with the attending institutional investors and research analysts at the conference venue. Please contact Larry Busnardo at [email protected] with questions regarding one-on-one meetings.Sponsorship Opportunities: Please contact Blanca Andrus at [email protected] or (303) 296.8834 x246.About EnerCom, Inc.:Founded in 1994, EnerCom, Inc. (Energy Communications) has a rich history of working with clients to differentiate and deliver targeted messages to investors. Headquartered in Denver, EnerCom is an internationally recognized management consultancy advising companies on Environmental, Social & Governance (ESG), investor relations, corporate strategy/board advisory, marketing, analysis and valuation, media, branding, and visual communications.In addition to EnerCom Dallas and The Energy Venture Investment Summit at EnerCom Dallas, EnerCom will host the 28th annual EnerCom Denver energy investment conference on August 13-16, 2023.For more information about EnerCom and its services, please visit www.enercominc.com or call +1 303-296-8834 to speak with the management team or one of our consultants.EnerCom Denver Sponsors Include:Netherland, Sewell & Associates, Inc.Netherland, Sewell & Associates, Inc. (NSAI) was founded in 1961 to provide the highest quality engineering and geological consulting to the petroleum industry. Today they are recognized as the worldwide leader of petroleum property analysis to industry and financial organizations and government agencies. With offices in Dallas and Houston, NSAI provides a complete range of geological, geophysical, petrophysical, and engineering services and has the technical experience and ability to perform these services in any of the onshore and offshore oil and gas producing areas of the world. They provide reserves reports and audits, acquisition and divestiture evaluations, simulation studies, exploration resources assessments, equity determinations, and management and advisory services. netherlandsewell.comBDOBDO delivers assurance, tax, and financial advisory services to clients throughout the country and around the globe. We offer numerous industry-specific practices, world-class resources, and an unparalleled commitment to meeting our clients' needs. We currently serve more than 400 publicly traded domestic and international clients. bdo.comMobius Risk GroupMobius Risk Group is an independent commodity and physical energy risk advisory firm. Founded in 2002, Mobius provides strategic advisory services including financial, physical, and commodity risk management and valuation, carbon strategy development, and regulated energy oversight for producers, consumers, distributors and capital providers backed by its proprietary C/ETRM, RiskNet. mobiusriskgroup.comHaynes and Boone, LLPHaynes Boone is an energy focused corporate law firm that provides a full spectrum of legal services and solutions to clients across the oil and gas industry, including the upstream, midstream, and downstream sectors. Our team of more than 100 energy lawyers and landmen has been helping operators, lenders and private equity firms complete some of the largest financings and M&A transactions in recent years. With more than 600 lawyers in offices in Texas, New York, California, Charlotte, Chicago, Denver, Washington, D.C., London, Mexico City and Shanghai, Haynes Boone is ranked among the nation's most recommended law firms by general counsel for client service according to BTI Consulting Group's "Most Recommended Law Firms 2021" report. Also, the U.S. News & World Report and Best Lawyers "Best Law Firms" 2022 survey ranked Haynes Boone in National Tier 1 in Oil & Gas Law. haynesboone.comFitch RatingsFitch Ratings is a leading provider of credit ratings, commentary, and research. Dedicated to providing value beyond the rating through independent and prospective credit opinions, Fitch Ratings offers global perspectives shaped by strong local market experience and credit market expertise. The additional context, perspective, and insights we provide help investors to make important credit judgments with confidence.Fitch Group is a global leader in financial information services with operations in more than 30 countries. Fitch Group is comprised of: Fitch Ratings, a global leader in credit ratings and research; Fitch Solutions, a leading provider of credit market data, analytical tools and risk services; and Fitch Learning, a preeminent training and professional development firm. With dual headquarters in London and New York, Fitch Group is owned by Hearst. fitchratings.comSLS GroupSLS Group is a multi-asset family office located in Salt Lake City that provides shareholders with alternative sources of liquidity, assists companies in capital formation, and makes direct investments in private and public companies. Our entrepreneurial spirit drives our success in complex and competitive capital markets. slsgroup.ioINEOS EnergyINEOS Energy is the energy division of INEOS, a multinational chemical company that operates in a variety of industries including petrochemicals, specialty chemicals, and oil and gas. INEOS Energy was established in 2020 to oversee the company's growing portfolio of energy-related businesses, which includes exploration and production, as well as trading of oil and gas.The company's exploration and production activities focus on onshore and offshore oil and gas assets in the North Sea, in the U.K. and Denmark. In recent years, INEOS Energy has made investments in low-carbon technologies, including Carbon Capture and Storage, and hydrogen. The company has also pledged to reduce its carbon footprint and achieve net-zero emissions by 2050. ineos.comStudio XStudio X is a global innovation studio with a mission to accelerate the pace of innovation in climate tech and for the energy industry. We are reimagining the future of work in energy by harnessing the spirit of innovation, collaboration, community, and a passion for pursuing what's possible. Powered by Shell, Studio X teams are able to come together from around the world to transform the way complex issues facing the energy industry are addressed. x.studioPetrie PartnersPetrie Partners, LLC is a boutique investment banking firm offering financial advisory services to the oil and gas industry. We provide specialized advice on mergers, divestitures and acquisitions and private placements. petrie.comPreng & AssociatesPreng & Associates is the world's leading executive search firm totally dedicated to the energy industry. Over our 40 years, we have assisted more than 750 management teams and boards in 75 countries and conducted over 3,700 engagements. Our mission continues to be helping companies and boards identify and attract talent around the world that will impact shareholder value. www.preng.comMoss AdamsMoss Adams is a fully integrated professional services firm dedicated to assisting clients with growing, managing, and protecting prosperity.With more than 3,400 professionals and staff across more than 25 locations in the West and beyond, we work with many of the world's most innovative companies and leaders. Our strength in the middle market enables us to advise clients at all intervals of development - from start-up, to rapid growth and expansion, to transition. www.MossAdams.com CisionView original content:https://www.prnewswire.com/news-releases/28th-annual-enercom-denver--the-energy-investment-conference-set-to-be-held-august-13-16-2023-in-denver-colorado-301896047.htmlSOURCE EnerCom, Inc.

PR Newswire

28th Annual EnerCom Denver - The Energy Investment Conference Set to be held August 13-16, 2023 in Denver, Colorado

https://finance.yahoo.com/news/28th-annual-enercom-denver-energy-172400097.html

bdeb4258-7ee6-337e-832f-eb9cc72b6ccf

VTS

CENTENNIAL, Colo., August 30, 2023--(BUSINESS WIRE)--Vitesse Energy, Inc. ("Vitesse" or the "Company") (NYSE: VTS) announced today the appointment of James Henderson as the Company’s Chief Financial Officer. Mr. Henderson succeeds David Macosko, who is transitioning from the Company effective August 31, 2023."Jimmy is a proven leader with a successful history in the energy industry, and I am eager to work with him as we move Vitesse forward in the years ahead," said Bob Gerrity, Vitesse’s Chairman and Chief Executive Officer. "I also would like to express Vitesse’s sincere appreciation to Dave for his many contributions during his tenure as Chief Financial Officer. We wish Dave the very best."Mr. Henderson stated, "I am excited to join the Vitesse team and contribute to its future success. The Company’s strong asset base delivers excellent financial results that support a durable return-of-capital vehicle. This model, combined with well-understood acquisition opportunities, provides an investment platform that is attractive in today’s energy market. Personally, this opportunity was too good for me to pass up."Mr. Henderson has over 30 years of oil and gas experience and most recently served as Executive Vice President Finance and Chief Financial Officer of Whiting Petroleum Corporation ("Whiting") from September 2020 until the closing of its merger with Oasis Petroleum Inc. in July 2022. Prior to joining Whiting, Mr. Henderson served as Executive Vice President and Chief Financial Officer of SRC Energy Inc. and Kodiak Oil & Gas Corporation. He holds a Bachelor of Business Administration degree in accounting from Texas Tech University and a Master of Business Administration degree in finance from Regis University.ABOUT VITESSE ENERGY, INC.Vitesse Energy, Inc. is focused on returning capital to stockholders through owning financial interests as a non-operator in oil and gas wells drilled by leading US operators.Story continuesMore information about Vitesse can be found at https://vitesse-vts.com.View source version on businesswire.com: https://www.businesswire.com/news/home/20230830653200/en/ContactsINVESTOR AND MEDIA CONTACT Ben Messier, CFADirector – Investor Relations(720) [email protected]

Business Wire

Vitesse Energy Announces Chief Financial Officer Transition

https://finance.yahoo.com/news/vitesse-energy-announces-chief-financial-105500125.html

29835830-268e-3e0e-a9fe-32a440e5a3fd

VTSI

LOS ANGELES, CA / ACCESSWIRE / August 23, 2023 / Planet MicroCap, a global multimedia financial news and publishing company that focuses on delivering news, information, data and analytics for publicly traded microcap companies, today announced that the Summer 2023 Issue of the Planet MicroCap Review Magazine is now available in digital format.Click here to read: Planet MicroCap Review Summer 2023 Issue (URL: https://www.scribd.com/document/666648930/Planet-MicroCap-Review-Summer-2023-Issue)Stock News Now, Wednesday, August 23, 2023, Press release picture"On behalf of the entire Planet MicroCap Team we are pleased to announce the Summer 2023 issue of the Planet MicroCap Review," said Robert Kraft, Planet MicroCap CEO. "Sentiment in MicroCaps has been negative for some time now, and I wanted this issue to focus on why some of the best investors and thought leaders in MicroCap see this as an opportunity. We'd like to thank all of our contributing writers, advertisers and subscribers for their contributions and continued support; please enjoy our Summer 2023 Issue."The Summer 2023 issue of the Planet MicroCap Review also includes profiles on public MicroCap companies, including:Immuron Limited (NASDAQ:IMRN)(ASX:IMC)Pioneer Power Solutions, Inc. (NASDAQ:PPSI)VirTra, Inc. (NASDAQ:VTSI)Xcel Brands, Inc. (NASDAQ:XELB)Planet MicroCap Review Summer 2023 Issue articles from leading thinkers and experts in the MicroCap space include:FEATURE: MicroCap is Always Full of Opportunities…and Risk - Q&A with Travis Prentice, CEO and CIO of EAM InvestorsFEATURE: Survival is Most Important in MicroCaps - Q&A with Ian Cassel, Founder of MicroCapClubFEATURE: What Makes a Great MicroCap Investor - Q&A with Chris Tessin, Partner and CIO at Acuitas InvestmentsFEATURE: Why 2023 is the Year of Artificial Intelligence "AI" - Q&A with Chris Wood, Chief Investment Officer at RiskHedgeNext Generation of Retail Investors Care Deeply About ESG by Seth Forman, SocialsuiteThe MicroCap Report 2023: Half Year Review by Joseph Lucosky, Esq., Lucosky Brookman LLPWhat Comes After the Epic SPAC Hangover? By Drew Bernstein, CPA, MarcumAsiaLEGAL CORNER: Try Not to Give the Regulators a Head Start by Jon Uretsky, Esq., PULLPFinding Hidden Gems in MicroCap Stocks by Yale Bock, CFA, Y H & C InvestmentsESG Investing 101 with ESGFIRE by Filip ErhardtNot All Broker/Dealers Are the Same by Erik Nelson, Coral Capital Advisors, LLCCybersecurity Disclosure is Just a Click Away by Lance Jon Kimmel, Esq., SEC Law FirmBattery Metals Outlook by Gavin Wendt, Independent Investment ResearchASIA CORNER: Hong Kong Hopeful to Breakout of IPO Slump by Leslie Richardson, Elite IR2023 Mid-point Check In - How Have We Fared and What is the Outlook for the 2nd Half of 2023 by Kelly Anderson, CPA, CXO Executive SolutionsCurrent State of Play with SPAC IPOs - Q&A with Douglas Ellenoff, Esq. Member - Ellenoff Grossman & Schole LLPDon't Confuse a Green Frog for a Guppy by Pulak Prasad, Nalanda CapitalQ&A with Independent Investment Research's Claire AitchinsonAwesome Aussies - Rarified Air by Richard Revelins, Peregrine Corporate LimitedAdding Public Relations to the IR Mix by Roger Pondel, PondelWilkinsonMaking the IP Capital Model The Model of the Future by Robert Cote, Esq., Cote CapitalStory continuesPlanet MicroCap Review Magazine is available to subscribers Free on SCRIBD and MicroCapReview.comTo receive the next issue of the Planet MicroCap Review Magazine, please follow the link here: SUBSCRIBESubscribe to our YouTube Channel: Planet MicroCapSubscribe to Planet MicroCap Podcast: Planet MicroCap Podcast - iTunesWould you like to advertise in the Planet MicroCap Review? Send us an email: [email protected] Planet MicroCapFounded in 1998, Planet MicroCap is a global multimedia financial news and publishing company that focuses on market awareness and investor visibility for public and pre-public microcap companies. In addition to its recently launched index and quarterly online magazine, Planet MicroCap also broadcasts a microcap news podcast, the Planet MicroCap Podcast, and hosts investor conferences.Investors and those who wish to receive the next issue of Planet MicroCap Review Magazine, please follow the link here: SUBSCRIBE. Contact Planet MicroCap at [email protected] for advertising inquiries and questions about services.For more Information, Contact:Robert Kraft, Host & CEOPlanet [email protected]: Planet MicroCapView source version on accesswire.com: https://www.accesswire.com/776186/Planet-MicroCap-Review-Magazine-for-Summer-2023-Now-Online

ACCESSWIRE

Planet MicroCap Review Magazine for Summer 2023 Now Online

https://finance.yahoo.com/news/planet-microcap-review-magazine-summer-123000434.html

b126d104-d7fd-35d7-b90a-5138f62738b9

VTSI

For those looking to find strong Aerospace stocks, it is prudent to search for companies in the group that are outperforming their peers. Is AeroVironment (AVAV) one of those stocks right now? Let's take a closer look at the stock's year-to-date performance to find out.AeroVironment is a member of our Aerospace group, which includes 48 different companies and currently sits at #2 in the Zacks Sector Rank. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.The Zacks Rank is a proven model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. AeroVironment is currently sporting a Zacks Rank of #2 (Buy).The Zacks Consensus Estimate for AVAV's full-year earnings has moved 2.6% higher within the past quarter. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.Based on the most recent data, AVAV has returned 34.3% so far this year. In comparison, Aerospace companies have returned an average of -7.9%. This means that AeroVironment is performing better than its sector in terms of year-to-date returns.One other Aerospace stock that has outperformed the sector so far this year is VirTra, Inc. (VTSI). The stock is up 36.1% year-to-date.In VirTra, Inc.'s case, the consensus EPS estimate for the current year increased 2.2% over the past three months. The stock currently has a Zacks Rank #2 (Buy).Looking more specifically, AeroVironment belongs to the Aerospace - Defense Equipment industry, a group that includes 22 individual stocks and currently sits at #50 in the Zacks Industry Rank. This group has gained an average of 9.9% so far this year, so AVAV is performing better in this area.Story continuesOn the other hand, VirTra, Inc. belongs to the Electronics - Military industry. This 1-stock industry is currently ranked #6. The industry has moved +36.1% year to date.Investors with an interest in Aerospace stocks should continue to track AeroVironment and VirTra, Inc. These stocks will be looking to continue 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 reportAeroVironment, Inc. (AVAV) : Free Stock Analysis ReportVirTra, Inc. (VTSI) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

Is AeroVironment (AVAV) Outperforming Other Aerospace Stocks This Year?

https://finance.yahoo.com/news/aerovironment-avav-outperforming-other-aerospace-134008162.html

130ebd2b-b47d-3de6-adee-5a53ceda76ff

VVI

Viad Corp (NYSE:VVI) Q2 2023 Earnings Call Transcript August 4, 2023 Operator: Good afternoon. My name is Aisha, and I will be your conference operator today. At this time I would like to welcome everyone to Viad Corp.'s Second Quarter 2023 Earnings Conference Call. [Operator Instructions] Thank you. Carrie Long you may begin your conference. Carrie Long: Good afternoon, and thank you for joining us for Viad’s 2023 Second Quarter Earnings Conference Call. We issued our earnings press release after the market closed today along with an earnings presentation, which are both available on our website at viad.com. We will be referencing specific pages from the presentation during the call as we discuss our business performance and outlook. I also want to point out that our earnings press release and presentation contain important disclosures regarding non-GAAP measures that we'll be referring to during the call including adjusted EBITDA and income before other items. During the call, you'll hear from Steve Moster, our President and CEO and President of GES; Ellen Ingersoll, our Chief Financial Officer; and David Barry, President of Pursuit.Before turning the call over to Steve, I'd like to remind everyone that certain statements made during the call which are not historical facts may constitute forward-looking statements. Information concerning business and other risk factors that could cause actual results to materially differ from those in the forward-looking statements can be found in our annual quarterly and other current reports filed with the SEC. And with that, I'd like to turn the call over to Steve who will start on Page 4 of our earnings presentation. Steve Moster: Thanks, Carrie. Good afternoon, and thank you for joining us to review our strong second quarter results and improved outlook for the remainder of 2023. I'm extremely pleased with our performance so far this year. And as you'll be hearing about in more detail throughout the call, I'm happy to report that both GES and Pursuit continue to demonstrate strong momentum this year with high demand for leisure travel and live event activity near 2019 levels. GES delivered another very solid quarter with revenue and adjusted EBITDA above our prior guidance range. I continue to be impressed with the team's focus on margin enhancement and the speed and the strength of GES' recovery from the pandemic. Based on GES' performance and our outlook for the second half, we're raising our full year guidance to reflect the opportunities ahead of us. Pursuit delivered strong year-over-year growth in line with our adjusted EBITDA expectations for the quarter. With the borders open and no travel restrictions in place, leisure travelers are actively seeking one-of-a-kind experiences and selecting Pursuit's iconic and unforgettable experiences. Pursuit's lodging booking pace for the second half of 2023 across all geographies is stronger than the 2019 and 2022 pacing at the same point in the year. On the attraction side of the business, we're seeing strong visitation to our geographies and higher conversion to passengers at our attraction. And now I'd like to turn the call over to Ellen to discuss our second quarter financial performance in more detail. Ellen? Ellen Ingersoll: Thanks, Steve. As shown on Page 6, we delivered consolidated revenue of $320.3 million. This is up $1.1 million year-over-year, driven primarily by higher international tourism into Western Canada and Iceland and continued strengthening demand for exhibitions and events, which more than offset an anticipated $16 million revenue reduction due to shifts in timing of events at GES and the sale of ON Services. Net income attributable to Viad was $11 million for the quarter and our income before other items was $11.8 million, as compared to $22.2 million in the 2022 second quarter, primarily reflecting lower adjusted EBITDA at GES, higher interest expense and higher taxes, partially offset by higher adjusted EBITDA at Pursuit. Our consolidated adjusted EBITDA was $42.9 million, which was within our prior guidance range and $4.6 million lower than the 2022 second quarter. GES adjusted EBITDA exceeded the high end of our prior guidance range by about $3 million, driven primarily by stronger-than-expected revenue and Pursuit was within our guidance range. As shown on Page 7, Pursuit's second quarter revenue grew 14% to $88.5 million and Pursuit's adjusted EBITDA increased to $19.5 million, which is an improvement of $3.9 million year-over-year. As David will expand upon shortly, the year-over-year growth at Pursuit was driven by stronger international leisure travel and our refresh build by efforts. At GES, revenue decreased 4% to $231.8 million and GES' adjusted EBITDA of $26.8 million declined by $8.3 million. The $9.8 million year-over-year reduction in revenue was driven by a few factors. First, was the sale of ON Services, which contributed about $16 million in revenue in the 2022 quarter. We also experienced a shift in timing of events driven by Omicron disruptions in early 2022, with approximately $10 million in revenue from Q1 shows that rescheduled into Q2 2022, moving back to their normal schedules in Q1 2023. Partially offsetting those two factors was positive share rotation revenue of about $10 million and strong year-over-year same-store growth. The change in adjusted EBITDA versus the second quarter of 2022, primarily reflects lower revenue as well as increased SG&A expenses relative to the unusually low level GES was operating, with during the 2022 second quarter while a lot of that activity was in the early stages of pandemic recovery. Next, I'll quickly cover some balance sheet and cash flow items before David and Steve dive more deeply into the business highlights. Our cash flow from operations during the quarter, was an inflow of approximately $28.7 million. Our capital expenditures totaled about $21 million and included growth CapEx for the FlyOver Chicago build project, and some refresh projects at Pyramid Lake Lodge. We ended the second quarter with total liquidity of $148.2 million, comprising $53.2 million in cash and approximately $95 million of capacity available on our revolving credit facility. Our debt totaled approximately $477.9 million, including $393 million on our Term Loan B financing lease obligations of approximately $64 million, and other debt of approximately $21 million. Additional balance sheet and cash flow details can be found in the appendix of our earnings presentation. And now, I'll turn the call over to David to discuss Pursuit. David Barry: Thanks, Ellen. I'm happy to report that Pursuit delivered another quarter of record revenues, record second quarter adjusted EBITDA and improved margins overall. It's exciting to see the world move past COVID restrictions. Strong consumer demand for high-quality hospitality experiences, is fueling a significant increase in visitation. This increased visitation and our focus on performance, is driving margin expansion at Pursuit. We have strong momentum and tailwinds on our side, as we enter the critical third quarter. More on that to come, but first let's jump into our second quarter financial performance starting on Page 9. Overall, Q2 revenue grew 14% from 2022 and adjusted EBITDA margin improved by 200 basis points. This growth was driven by stronger international visitation and our investments to scale and elevate Pursuit's iconic collection of attractions and hospitality experiences, through our Refresh Build Buy strategy. And remember, Refresh Build Buy is our core growth strategy to drive shareholder value and Page 9, does a nice job of illustrating how it's working. Nearly 30%, of Pursuit's second quarter revenue, came from new experiences that we've acquired or opened from 2019 forward many of which operate year-round. We continue to see strong momentum from each of these new Buy and Build experiences driving year-over-year revenue growth of 27%. We also drove strong same-store revenue growth from experiences that we're operating within Pursuit prior to 2019. Year-over-year same-store experiences were up 9% in revenue. This impressive growth was driven both, by the overall strengthening of international tourism that we're seeing in our geographies, and by a refresh and revenue maximization effort, which is clearly evident in the impressive 19% same-store revenue growth we've driven relative to Q2 of 2019. The various refresh investments we've made make our experiences better driving guest satisfaction and creating pricing power and ancillary revenue growth, a winning formula for capitalizing on strength in consumer spending and unprecedented demand many of our experiences. Okay. So, next I'll hit some highlights of our attractions performance on Page 10. Overall attraction ticket revenue of $36.5 million grew 25% year-over-year, on a 23% increase in visitors and growth in effective ticket price. Visitors, to the new experiences we've opened or acquired from 2019 grew 29% from 2022, with strong growth across the board. FlyOver Las Vegas, posted the largest gain in number of visitors and a strong year-over-year growth rate of 41%. We're happy to see the growth trajectory of this attraction, as we continue to drive awareness and broaden our sales channels in the Vegas market. Our strongest percentage growth in visitation at 62% came from the new Golden SkyBridge in British Columbia, where our addition of an exciting mountain coaster and other enhancements to the guest experience are drawing increased visits and outstanding guest reviews. In Iceland, Sky Lagoon continues to put up great numbers with year-over-year visitation growth of 22%. FlyOver Iceland, saw a healthy growth of 12%. International travel to Iceland is improving and our world-class attractions there are capitalizing on that trend, evidenced by growing capture rates of international guests flying into Keflavik International Airport. Glacier Raft Company is also off to a strong start for its 2023 season, with Q2 ticket revenue up 30% year-over-year. The Glacier Raft Company was an ideal tuck-in acquisition last year, leveraging our existing set of lodging food and beverage and retail offerings just outside the west entrance to Glacier National Park. Now moving on to our same-store attractions, where we also saw strong growth. Year-over-year same-store attractions visitors grew 21% and all but two of our attractions were above 2019 visitation levels for the quarter. The Banff Gondola, Banff's top-rated attraction continues to impress with strong growth versus 2022 and 2019 and I'm pleased to report, that we are on track to deliver record full year visitation. Another standout performer, from a same-store growth perspective is our Maligne Lake Cruise, which is also up strongly from both 2022 and 2019. Last quarter on our call I mentioned that FlyOver Canada and Vancouver, posted first quarter visitation numbers that were nearly on par with pre-pandemic levels of Q1 2019, and I'm very happy to report that Q2 numbers accelerated and exceeded 2019 as our strategy to refresh film content and to show FlyOver films from our other locations is paying dividends. At our Columbia Icefield attractions, the Glacier Adventure and the Glacier Skywalk early season visitation is significantly ahead of last year, but still below 2019 levels. And I've discussed on prior calls, how these two attractions typically see a lot of long-haul international visitation from travel trade, including APAC groups. And with the later reopening of many Asian markets for international travel, these group tour operators missed the booking window for 2023 itineraries. And as we look forward to 2024 bookings should be much stronger from this segment. Knowing this constraint was our reality for 2023, the Pursuit team mobilized to maximize visitation from other sources with a strong emphasis on capturing more independent travelers. One of our key strategies to drive stronger independent traveler visits this year was to increase the amount of presold attraction tickets through our Pursuit Pass. The Pursuit Pass was launched this year to help lock in advanced commitment and drive stronger visitation across our Banff Jasper attractions by including multiple Pursuit attractions in one compelling pass product. And I'm very pleased to report that, we have now sold over 75,000 Pursuit passes equating to nearly eight million of attraction ticket revenue so far this year. For the second half of 2023, attraction ticketing revenue in Banff and Jasper is pacing significantly ahead of 2022, with renewed ease of border crossings into Canada and we remain confident that we'll reach our target of achieving full year same-store attraction visits of at least 95% of 2019 levels. Now, let's switch over to our lodging performance, which we'll reference on page 11 of the earnings presentation. Q2 rooms revenue of $22.1 million grew 8% from 2022 driven by an increase in available rooms with the new Alpine wing of the Forest Park Hotel that opened in Jasper in mid 2022 and a 3% increase in RevPAR. Overall occupancy remained strong at 68% for the quarter which is in line with both 2022 and 2019. In Canada, we continue to see stronger year-over-year occupancy as international visitation to Western Canada improved. And along with increased demand for rooms, we've moved ADRs higher and are seeing RevPAR increases at 10 of the 11 hotels equating to a strong 11% year-over-year increase. Last month, we completed the refresh of the Founders cabins at Pyramid Lake Lodge. Pyramid Lake Lodge is Pursuit's premium lodging experience in Jasper and this exciting project delivered 12 brand-new guestrooms with high-end finishes overlooking the stunning Pyramid Lake and is open to stellar guest reviews. In the US most of our properties opened for the season during May and June and are off to a solid start. Q2 did bring us slightly lower occupancy levels year-over-year which impacted overall Pursuit RevPAR and especially our same-store RevPAR metric for the quarter which was relatively flat year-over-year. This early season time frame is impacted by opening dates weather and we just remain very optimistic about the peak summer season. So let's move on to our lodging booking pace shown on page 12. 2023 bookings for Q3 and Q4 are at or above 2022 levels in each of our operating geographies across Western Canada Montana and Alaska. Rooms revenue on the books for Glacier is pacing 3% ahead of 2022's record levels and is up an incredible 33% from 2019. Alaska is 5% ahead of this time last year and up 9% from 2019. And last, but certainly not least in Banff and Jasper where international visitation is accelerating rooms revenue on the books is up 29% year-over-year, with our same-store properties up 5% from 2019. Next, I want to quickly cover our ancillary revenue streams before providing more color on our outlook. Food and beverage and retail offerings are key differentiators and an important part of the guest experience. And we once again saw solid year-over-year revenue growth as we capitalized on the integration of F&B and retail experiences with our attractions and lodging lines of business. Relative to the same period in 2022 food and beverage revenue increased 12% and retail revenue increased 5%. Earlier this month, we opened the refreshed and rebranded Aalto restaurant at the Pyramid Lake Lodge in Jasper and in just a few short weeks Aalto has skyrocketed to number two of 72 restaurants in Jasper on TripAdvisor; second only to our Terra restaurant at the Crimson Jasper which we refreshed and re-launched last summer. So, now let's look ahead at the exciting growth coming our way. We're very encouraged by our own booking pace and are thrilled with the momentum we have heading into the peak summer season. With strong demand for our geographies and experiences we fully expect to set new records for revenue and adjusted EBITDA during the third quarter and for the full 2023 year. A key success factor for us is having the right level of talent in place across the organization and we continue to win the war for talent to Pursuit. I'm super pleased to say that our efforts to build a strong team and drive record levels of team member engagement have put us in great shape for 2023 with strong staffing levels across all of Pursuit's geographies to meet the surge in demand that we're seeing as we accelerate into the peak summer months. Pursuit's business is built such that profitability grows materially with incremental increases in attractions visitation. And as I noted earlier we realized a 200 basis point year-over-year improvement in adjusted EBITDA margin during Q2. And with revenue continuing to accelerate in Q3 we expect to see margins improve by approximately 400 basis points versus Q3 2022. Revenue management teams are hard at work executing on strategies for regaining pre-pandemic, attraction visitation volumes at those locations that are more dependent on long-haul international visitation and I'm quite happy with the progress we're making against those initiatives. Our targets for 2023 are well within reach and we are on track to drive continued growth in 2024 to achieve our targeted 30-plus EBITDA margin. In closing, we're very pleased with our results and execution thus far in 2023 and excited about what lies ahead. And just quickly, I'd like to thank our operating and support teams around the world for helping to deliver a great second quarter and for all of the energy and effort in preparing for the busy times ahead. Steve, back to you. Steve Moster: Thanks, David. Now let me switch gears and provide more insight into the GES business which includes both GES Exhibitions and our experiential marketing agency Spiro. GES continues to experience strong demand from corporate marketers for trade shows, conferences and live events with improving industry fundamentals. As shown on Page 14, GES delivered $231.8 million in revenue and $26.8 million in EBITDA with an 11.6% EBITDA margin during the quarter. This performance exceeded our second quarter EBITDA guidance range of $20 million to $24 million through stronger-than-anticipated revenue growth from the rebound of live events as well as a series of margin-enhancing lean activities. I'm extremely happy with our performance this quarter. As Ellen highlighted earlier, the year-over-year comparisons are challenging for the GES this quarter because the second quarter of 2022 was such an anomaly. As Omicron concerns subsided the live event industry experienced a very quick rebound during the second quarter of 2022, including some shows that had postponed from Q1 into Q2. Business activity accelerated much faster than we had expected and significantly outpaced the restaffing of our workforce coming out of the pandemic. On the Exhibitions side of GES, we reached full staffing levels by the fourth quarter of 2022 and have been successful offsetting some of the higher year-over-year SG&A with lean actions to increase efficiency. At Spiro, we continued to selectively add talent and resources to support business development growth from new and existing clients. Even with these increases, we were able to deliver a strong adjusted EBITDA margin in excess of 11% at both Exhibitions and Spiro during the quarter. Overall I'm very pleased with GES' performance and I'm excited about the outlook for the business and the industry. Now I'd like to discuss the second quarter at GES Exhibitions, which is the global leader in the trade show services to event organizers in North America, Europe and United Arab Emirates. During the second quarter, GES Exhibitions delivered $154.5 million in revenue, $17.9 million in adjusted EBITDA and an 11.6% adjusted EBITDA margin as seen on Page 15. As compared to the 2022 second quarter, Exhibitions revenue was relatively unchanged overall, as improving demand offset the impact of shifting event schedules, the sale of ON Services and negative show rotation. I want to highlight that US Exhibitions same-show revenue grew 19% year-over-year which was stronger than expected and average 98.5% of 2019 levels. UFI the Global Association of the Exhibition Industry recently released its 31st edition of the Exhibition Barometer which measures the health and trends of the industry. The report's findings concluded that the majority of international exhibitions have fully returned to or surpassed their 2019 revenue levels. The strength and the speed of the industry recovery is a clear indication of the power of in-person face-to-face events as a marketing channel. I'm happy to see that our same-show exhibition revenue has now recovered to 2019 levels across the globe. But I think it's more important to focus on the future growth potential for GES, as the size of exhibitions fully recovers. The net square footage of an exhibition strongly correlates to GES Exhibitions revenue, the larger the exhibition, the higher level and quantity of services required by corporate marketers and the event organizer and therefore the higher revenue for GES. As shown on Page 16, in the second quarter of 2023 our US Exhibitions have only recovered to about 86% of the net square footage of their 2019 occurrences on a same-show basis. This smaller footprint was driven primarily by fewer corporations exhibiting at events. On prior calls, I've noted that we're seeing fewer international exhibiting companies and fewer small entrepreneurial companies who have been slower to return. As these exhibiting companies return to trade shows and conferences, GES Exhibitions has the potential to see volume growth of about 14% to reach their 2019 event size. This is a huge opportunity to drive incremental revenue and profit in 2024 and beyond. Now turning to Page 17, I'd like to discuss the second quarter performance at Spiro, which serves as the experiential marketing agency of record for a great roster of Fortune 1000 corporate clients. During the second quarter, Spiro delivered $80.4 million in revenue, $8.9 million in adjusted EBITDA and 11.1% adjusted EBITDA margin. Revenue during the second quarter of 2023 was lower year-over-year, primarily due to the sale of ON Services, shifts in timing of client spend and some non-recurring business, partially offset by positive show rotation and new client wins. Overall, Spiro continues to see strong spending from its corporate clients with full year marketing budgets at/or above 2019 levels. During the quarter, Spiro supported many major aerospace clients at the Paris Air Show. It was great to see this non-annual event come roaring back after being canceled in 2021. I'm also pleased to report that Spiro's winning trend continues as the team continues to grow the client roster with marquee clients. Last quarter I highlighted a large client event win the 2024 McDonald's Worldwide Convention in Barcelona Spain. The Spiro team is currently working side by side with the McDonald's team and other partners to play in this amazing event. During the second quarter, Spiro added 10 new experiential marketing clients bringing the total of new clients won this year to 17. We expect these new clients to contribute about $15 million in revenue during 2023. As I've done in the past, I'd like to highlight one of the client wins to give you a better sense of the type of experiences that Spiro competes for and wins. This past weekend, Spiro delivered two separate business-to-consumer experiences at the Formula E race in London. In addition to producing the events, VIP hospitality area for the second year in a row for this year's event, Spiro also designed curated and executed an immersive consumer experience for SABIC in Formula E's fan village. The SABIC VR Experience zone was a unique space highlighting SABIC's technology and ongoing efforts to drive sustainability. These projects reinforce Spiro's efforts to build inroads to the business-to-consumer sports marketing vertical. And now, I'd like to turn the call over to Ellen to review our financial outlook. Ellen Ingersoll: Thanks, Steve. Before covering our third quarter guidance, I want to provide some updates on our full year outlook, which is shown on page 19. We now expect consolidated adjusted EBITDA to be in the range of $126 million to $143 million, which is up from our prior guidance of $124 million to $141 million and from $116.1 million in 2022. As Steve mentioned earlier, the increase in our guidance range is based on a significantly stronger-than-expected growth at GES that we experienced during the second quarter. We are not adjusting full year guidance for Pursuit at this time. However, the strong pacing we're seeing leaves more room for upside performance and downside risk relative to our full year guidance for Pursuit. Along with the improvement to our adjusted EBITDA guidance we are also raising our expectations for full year cash flow from operations. We now expect an inflow of $75 million to $85 million as compared to prior guidance of $70 million to $80 million and we continue to plan for $70 million to $75 million in capital expenditures for the full year. Now, turning to our third quarter guidance, which is outlined on page 20. We expect consolidated adjusted EBITDA to be in the range of $77.5 million to $89.5 million as compared to $82 million in the 2022 third quarter. This range reflects significant year-over-year growth at Pursuit and negative share rotation at GES. For Pursuit, we expect third quarter adjusted EBITDA to be in the range of $87 million to $95 million as compared to $75.1 million in the 2022 third quarter. This growth reflects healthy margin flow-through on stronger year-over-year revenue. We expect revenue to be in the range of $175 million to $190 million as compared to $163.8 million in the 2022 third quarter as demand for Pursuit's experiences continues to strengthen. For GES, we expect third quarter adjusted EBITDA to be in the range of negative $6 million to negative $2 million versus $10.7 million in the 2022 third quarter due to lower revenue. We expect revenue to be in the range of $165 million to $180 million as compared to $218.9 million in 2022. The anticipated year-over-year revenue decline is due to negative show rotation of approximately $50 million and the sale of on services, which contributed about $14 million of the revenue in the 2022 third quarter, partially offset by underlying growth. Regarding third quarter cash flows, we expect operating cash flow of $55 million to $60 million and capital expenditures of $25 million to $30 million including growth CapEx of about $15 million. Before turning the call back to Steve for some concluding remarks, I want to emphasize that our favorable outlook for 2023 shows no signs of slowing consumer demand in either of our businesses. Given the strength, we are experiencing in leisure travel to Pursuit's markets and GES' live event activity, we are comfortable with our planned level of capital spending. That said, we stand ready to adjust both capital and operating expenses should the need arise. We remain committed to maintaining a solid liquidity position by maximizing our cash flows from operations while selectively investing in high-return opportunities to continue scaling Pursuit through our Refresh, Build, Buy growth strategy. And back to you Steve. Steve Moster: Thanks Ellen. In closing, we're thrilled with our performance and the strength we're seeing in our businesses so far this year and excited about what lies ahead. GES continues to see positive momentum in the live events sector and Pursuit is seeing ongoing acceleration of international visitation and growth across its experiences. We expect this positive momentum to continue. And as we look further ahead to 2024, Pursuit is well-positioned for ongoing top-line growth and margin expansion from the recovery of long-haul international travel trade visitation the continued ramping of our new experiences and the opening of FlyOver Chicago. GES should also have a much stronger year in 2024 with positive show rotation of approximately $70 million in revenue and an anticipated full recovery of show sizes and corporate marketing budgets. We expect that 2024 will be the year that GES reaches its adjusted EBITDA margin target of greater than 8%. Our actions to scale Pursuit, transform GES Exhibitions cost structure and strengthened Spiro's capabilities are positioning us for strong growth in revenue and profitability. We remain committed to our strategy to create extraordinary experiences and strong returns for our shareholders. I want to thank our hard working and dedicated employees and our shareholders for your continued support in Viad. And with that we'll open up the call for questions. See also 15 States With The Lowest College Tuition and Fees and 15 Most Imported Cheeses in America.Story continuesQ&A SessionOperator: [Operator Instructions] Your first question comes from the line of Tyler Batory from Oppenheimer. Your line is open. Tyler Batory: Thank you. Good morning, everyone. So I want to start the GES side of things. And Steve the guidance there you're assuming Exhibitions same-store revenue approaching 2019 levels. Just talk about that a little bit more maybe you're close to 90% last quarter. Just what's changed there? And what's your confidence level that we're not going to be moving backwards as we move through the rest of this year. Steve Moster: Tyler thanks for the question. Sorry we had some technical challenges on our side. But I'm going to restate the question and give you an answer. So the question was confidence level with the same-show growth at GES and how that's trending for not only the first half of the year but in the back half. And as I mentioned during my comments in the script in the second quarter of this year we saw GES same-show growth versus 2019 at about 98.5% of where it was in 2019. So this is several quarters now where we've continued to see that revenue growth get back to 2019 levels. A lot of that Tyler has been primarily driven by an increase in pricing as well as an increase in the square footage. I would call your attention though to slide 16 of the presentation where we highlight both of those metrics. And I think what's important to point out is that although revenue has recovered close to the 2019 levels on a same-show basis currently the net square footage which as you know correlates very well to our revenue opportunity is still at about 86% meaning the shows are about 86% of the size that they were in 2019. So we believe that this is a great indicator of the potential growth within GES over the -- the coming year or two as -- as the size of the shows grows and obviously our revenue grows along with that. So hopefully that gives you a good example of where I think the opportunity is. And again we've raised our full year guidance around GES because of the confidence we see in the performance of trade shows, conferences and live events. Operator, probably go to the next call. Operator: Your next call comes from the line of Kartik Mehta from Northcoast Research. Your line is open. Kartik Mehta: Good afternoon, Steve. I know you talked about so far no indications of economic slowdown or companies pulling back. I think in the past if I remember correctly whenever there was some kind of economic issue maybe companies would use their exhibits over and over again instead of buying new ones. Are you seeing any signs or early times of where companies might be a little afraid of what's happening in the economy and pulling back? Steve Moster: I'll answer it in two ways Kartik. The first is with the pandemic really shutting down this industry in 2020 and 2021 or the majority of 2021 you actually see a renewed activity in new builds for corporate clients. So their branding has changed their messaging has changed and there's been a lot of changes on -- on their side of their marketing channel. And so we do see an elevated level of new builds coming through the system. As I mentioned though on prior calls and as I just mentioned around the square footage, a lot of what we're seeing are some exhibitors, specifically, international exhibitors and some of the smaller booth sizes which I equate to kind of entrepreneurs they haven't fully returned to the trade show floor. That's why the size of the events are kind of about 86% of where they were in 2019. So, I'd answer it two ways that the large corporate clients continue to spend and refresh their image. And that means new construction of booths and booth programs, but some of the smaller and international clients haven't fully returned to the trade show. So we're seeing some of the benefit now. And as the events continue to grow in size we'll continue to see that benefit. Operator: Your next question comes from the line of Bryan Maher from B. Riley Securities. Your line is open. Bryan Maher: Thank you and good afternoon everyone. Couple of questions for me maybe more on the Pursuit side. Other than FlyOver Chicago and I know Toronto has been a little delayed given kind of the weirdness in the market we can't really tell for going into a recession or not. What is the appetite of the firm to acquire or develop incremental attractions at this point? Steve Moster : Yes. I'll talk a little bit about from a capital perspective how we're looking at it. And then maybe David can jump in and talk about the overall market in general and opportunities that are out there. So from a capital allocation perspective, I mean, we remain committed to our strategy, which is scaling Pursuit. So we're looking for the right opportunities. But given the high level of interest rate, they have to be the right opportunities with the right returns. And so we are selectively looking at new opportunities as they come. David I don't know if you want to comment on how the health of the pipeline and things that you're seeing. David Barry: Yes. And first I would maybe address the recession question. We continue to see no signs of any slowing and frankly see signs of the opposite. So consumer spend remains buoyant and confidence people are buying that extra bottle of wine. They're taking the extra experience and that's reflected through the organization and the company as we -- our revenues per visitor and effective ticket price and a variety of other things continue to grow and show good signs of health and no sign of recession. Our focus is on iconic locations, bucket-list experiences that have perennial demand with high barriers to entry. And so we continue to see multiple opportunities, and I think Steve really articulated it well, which is we're looking for the right opportunity that is obviously going to be powerful, going to be impactful in the business, and something that we can acquire at an appropriate price.So we won't comment on any specifics other than, I would say that the climate is robust and there are multiple opportunities, and we remain focused on really digging through and picking the absolute best ones. Bryan Maher: And as it relates to FlyOver Chicago, I think, I had made a note that does that open next March? Is that still on track for next year in this March of the month? David Barry: Yes. March is the month. And I would say, just one of the things we've been able to do, Bryan, this summer is observe what's happening at Navy Pier. So, Navy Pier has had a tremendously positive second quarter and then obviously a very, very strong July. And so we think the way that the Navy Pier works in Chicago, the fact that there's joint ticketing between the attractions, there's one ticketing system, and hosting significantly high numbers of visitors that the opportunity to work together as a destination is a powerful one, and it's something that we're excited about getting open. So we're on track on plan within capital and ready to open in March of 2024. Operator: Your next question comes from the line of Alex Fuhrman from Craig-Hallum Capital Group. Alex Fuhrman: Hey, guys. Thanks very much for taking my question. David I was interested to hear your commentary. It sounds like the Banff Gondola is on track for a record year of visitation this year. It seems like from looking at a lot of the reviews online that the demand for that attraction remains incredibly strong, but it seems like parking is a little bit of the bottleneck there. Can you talk a little bit about what you're doing to get more people through that attraction? And as you think about next year and the following year, are there opportunities to continue to get visitation up beyond the record levels you're seeing this year? David Barry: Yes, that's a great question. Thanks, Alex. So, a couple of things. One is in any national park town you obviously have parking constraints, because you have the size of the community and I'll pick Banff an example, where you've got a number of residents that are there an amount of parking. And so there's a couple of initiatives that happen across town completely. And that's one, free shuttles where guests can park their car in a central location and then shuttle up to the Banff Gondola free of charge. And we run a series of those services as well as the town advance and the regional transportation authority. So that's helped alleviate any of the concerns for parking that you have in that particular location. And you are quite correct. We are on track for a record season in terms of visitation at the Banff Gondola, and we're excited about that. Into the future, peak times are peak times, and you reach a certain capacity where you've achieved your effective carrying capacity, but there remains who can visit when seeking what experience different times of the day. So if you're a parent with young kids, and they're up early in the morning, that's a great time to visit early in the morning. And obviously at peak times in the afternoon, between say 1:00 and 4:00 p.m. that's when you're most constrained. So we continue to have availability what we call white space earlier in the day and then depending on the season. And so there's room within our operating season because again we operate on a 12-month basis to grow both volume of passengers and capacity. And generally it will expand into the various hours of the day. And so with the right mix of programming and dynamic pricing we see continued opportunity for growth there. Alex Fuhrman: Okay. That's really helpful. Thank you, David. And then, can you talk a little bit about what you're seeing so far in terms of the pipeline for international group travel next year? I think there was an article just in this morning's Wall Street Journal about how very few Americans are traveling overseas to China right now and mentioned the difficulty of just simply flights between North America and China. Do you have any sense of what that might look like next year? And then, it sounds like you're seeing a lot of increased demand from international tour groups outside of China maybe countries like India and Korea. Is there an opportunity to perhaps make up for the Chinese traveler if flights just don't come back next year? David Barry: Yes. Again another good question. So we have a combination of what we call source markets. And so we work in basically 80 countries around the world, where tour and travel partners are coming to Western Canada to experience what Western Canada has to offer. Each of them contracts multiple years out. So we have commitments from tour and travel partners for 2024 and 2025 at this point as people are contracting multi years ahead. Definitely I would say that demand is quite robust for 2024 and 2025. And then what remains to be seen is can people obtain say, from China exit Visas and will the amount of flights, the number of flights return to say 2019 levels. Today they're not there. And part of the reason is that the Chinese government opened up the markets quite late in the journey.And so it was very hard for tour and travel partners to secure airlift. So we see that growing into 2024. And yes, there's quite an interesting balance between not being over-allocated to one country. And so we try to maintain what we call a competitive position between countries that you can never give everyone all of the space that they want. And so you're balancing demand from various countries in order to hit your highest potential. So our visitation from Western Europe, obviously, strong demand; Australia, New Zealand returning with significant demand; Korea as a market is strong. India is a developing market but the size of the affluent class in India that can travel internationally and be focused on that is quite large. And so we see that as a growing market into the future. So these things historically tend to balance out. And if one country lags behind for a few years, there's opportunity to replace that with visitors from other locations. As we get closer into the beginning of the 2024 season, we'll have a better sense as to who's going to fulfill what level of commitment that they're making today, because obviously when it comes down to deposit time and going firm on the booking that will be a sign. But all signs point to quite positive demand for both 2024 and 2025. Operator: [Operator Instructions] Our next question comes from Tyler Batory from Oppenheimer. Your line is open. Tyler Batory: Great. Thanks for taking my follow-up questions here. So I wanted to ask about Spiro and the margin there a little bit more. I mean I know you're making some investments. Steve, I think you mentioned some investments in talent there. Just -- is that kind of a one-year thing? I mean what is your outlook in terms of maybe pulling back on some of those, or is that just something you think you need in order to really ramp up the growth trajectory in that business? Steve Moster: Yes. Thanks, Tyler. And we started this journey a little bit ago and we've indicated that the goal is to build a world-class experiential agency. We are well on our way. We have added resources to the team in order to build out new capabilities to serve our existing clients as well as to attract new clients. We've had a few quarters of where we have made those investments. We feel like we're coming towards the end. I won't say that we are completely finished but the level or the pace at which we're adding will come down, because we're really getting to that point where we feel like we have the appropriate capabilities in-house. So you should see that those level of investments come down in subsequent quarters. So feeling great about where we stand for the year and feeling great about the team members that we've brought on over the last couple of quarters. Operator: There are no further questions at this time. Steve Moster, I turn the call back over to you. Steve Moster: Okay. Well, thanks everybody for joining us. I apologize for some of the technical challenges that we have here through the call. But as always, we look forward to talking to you for the next quarter results. Thanks so much. Operator: This concludes today's conference call. You may now disconnect.

Insider Monkey

Viad Corp (NYSE:VVI) Q2 2023 Earnings Call Transcript

https://finance.yahoo.com/news/viad-corp-nyse-vvi-q2-170918061.html

324ade2f-a26a-3b48-a0a3-4bf529f2ff42

VVI

One of the best investments we can make is in our own knowledge and skill set. With that in mind, this article will work through how we can use Return On Equity (ROE) to better understand a business. By way of learning-by-doing, we'll look at ROE to gain a better understanding of Viad Corp (NYSE:VVI).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. Simply put, it is used to assess the profitability of a company in relation to its equity capital. View our latest analysis for Viad How To Calculate Return On Equity?Return on equity 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 Viad is:11% = US$26m ÷ US$237m (Based on the trailing twelve months to June 2023).The 'return' is the yearly profit. Another way to think of that is that for every $1 worth of equity, the company was able to earn $0.11 in profit.Does Viad Have A Good ROE?One simple way to determine if a company has a good return on equity is to compare it to the average for its industry. Importantly, this is far from a perfect measure, because companies differ significantly within the same industry classification. You can see in the graphic below that Viad has an ROE that is fairly close to the average for the Commercial Services industry (10%).roeThat's neither particularly good, nor bad. Although the ROE is similar to the industry, we should still perform further checks to see if the company's ROE is being boosted by high debt levels. If a company takes on too much debt, it is at higher risk of defaulting on interest payments. Our risks dashboardshould have the 2 risks we have identified for Viad.How Does Debt Impact ROE?Most companies need money -- from somewhere -- to grow their profits. That cash can come from retained earnings, issuing new shares (equity), or debt. In the first two cases, the ROE will capture this use of capital to grow. In the latter case, the debt required for growth will boost returns, but will not impact the shareholders' equity. In this manner the use of debt will boost ROE, even though the core economics of the business stay the same.Story continuesCombining Viad's Debt And Its 11% Return On EquityViad does use a high amount of debt to increase returns. It has a debt to equity ratio of 1.70. Its ROE is quite low, even with the use of significant debt; that's not a good result, in our opinion. Debt does bring extra risk, so it's only really worthwhile when a company generates some decent returns from it.ConclusionReturn on equity is one way we can compare its business quality of different companies. A company that can achieve a high return on equity without debt could be considered a high quality business. All else being equal, a higher ROE is better.But when a business is high quality, the market often bids it up to a price that reflects this. It is important to consider other factors, such as future profit growth -- and how much investment is required going forward. So you might want to take a peek at this data-rich interactive graph of forecasts for the company.Of course, you might find a fantastic investment by looking elsewhere. So take a peek at this free list of interesting companies.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.

A Note On Viad Corp's (NYSE:VVI) ROE and Debt To Equity

https://finance.yahoo.com/news/note-viad-corps-nyse-vvi-112310167.html

c8d6f58d-12de-34d6-aa83-30b4f1ef56f0

VVOS

Vivos Therapeutics, IncOperating Expenses Decreased 31% Quarter Over Quarter and 25% Year to Date,Reflecting Cost Cutting InitiativesManagement to Host Conference Call Today at 6:00 pm ETLITTLETON, Colo., Aug. 16, 2023 (GLOBE NEWSWIRE) -- Vivos Therapeutics, Inc. (“Vivos” or the “Company’’) (NASDAQ: VVOS), a medical technology company focused on developing and commercializing innovative diagnostic and treatment methods for patients suffering from a variety of health conditions, many of which are associated with breathing related sleep conditions arising from certain dentofacial abnormalities, today reported financial results and operating highlights for the second quarter and six months ended June 30, 2023.Second Quarter 2023 Financial and Operating SummaryRevenue was $3.4 million for the second quarter of 2023 and $7.3 million for the six months ended June 30, 2023, compared to $4.2 million and $7.8 million for the three and six months ended June 30, 2022, respectively, mainly due to lower product revenue and Vivos Integrated Provider (“VIP”) enrollments offset by increased revenue from home sleep testing services and seminars conducted at the Vivos Institute. Importantly, Vivos believes that governmental investigations of third parties with non-FDA approved products in the sleep apnea treatment space adversely impacted new Vivos case starts and VIP enrollments during the first half of 2023.Gross profit was $2.1 million for the second quarter of 2023 and $4.4 million for the six months ended June 30, 2023, compared to $2.6 million and $5.1 million for the comparable periods in 2022, respectively, attributable primarily to the decrease in revenue;Gross margin remained the same at 62% for the second quarter of 2023 compared to the prior year period. For the six months ended June 30, 2023 gross margin was 61%, compared 66% for the same period in 2022;Operating expenses for the second quarter of 2023 decreased by a significant amount ($2.9 million, or 31%) versus the second quarter of 2022, reflecting Vivos’ previously announced cost-cutting initiatives including personnel and related expenses. For the six months ended June 30, 2023 operating expenses decreased by $4.7 million or 25%, compared to the same period in 2022;The Company’s cost-cutting initiatives led to significant year-over-year reductions of net loss of $1.5 million or 21% and $5.1 million or 41% for the three and six months ended June 30, 2023, respectively, compared to the same periods in 2022;Cash and cash equivalents were $3.9 million at June 30, 2023;As of June 30, 2023, patients treated with The Vivos Method totaled approximately 40,000, compared to over 28,000 as of the second quarter of 2022. Vivos has also trained more than 1,800 dentists in the use of The Vivos Method and Vivos’ related value-added services, compared to over 1,600 as of the second quarter 2022;In May 2023, Vivos announced the results of a clinical observational study on the application of the POD® (being rebranded as the Vida), in the treatment and prevention of migraine headaches. The study demonstrated statistically significant results, with ninety-two percent (92%) of study patients reporting their migraine symptoms were completely resolved following completion of treatment. Migraine headaches affect over 39 million people in the United States alone according to the American Migraine Foundation; andOverall, Vivos’ previously stated goal was to decrease costs and increase revenues during 2023 with the aim of becoming cash flow positive from operations by the first quarter of 2024 without the need for additional financing, if possible. Vivos has successfully implemented cost savings measures and significantly reduced cash used in operations; however, sales have not grown during 2023 as anticipated due to external factors and as Vivos continues to refine its product offerings and sales strategies. As such, Vivos now anticipates that it will likely be required to obtain additional financing to satisfy cash needs as the Company works towards increasing revenue and achieving cash flow positive operations in the foreseeable future.Story continuesKirk Huntsman, Vivos’ Chairman and Chief Executive Officer, stated “Throughout this year we significantly reduced our cash burn, which led to a 31% second quarter over quarter, and 25% year over year reduction in operating expenses. At the same time, we expanded our product offerings to address a broader spectrum of patient needs and price points to drive revenue growth. This included our acquisition of certain key patents, trademarks, product rights and trade secrets earlier in 2023, which filled a gap in our product offerings to providers and patients. We continue to believe that these developments will allow us to begin to see revenue improvement here in the second half of 2023.”Mr. Huntsman continued, “That said, we believe revenues in our second quarter were adversely impacted by a widely publicized lawsuit and ensuing governmental, including criminal, investigations into a non-Vivos, non-FDA cleared oral appliance purporting to treat sleep apnea. Although Vivos was uninvolved in these matters, we believe the negative publicity, rumors and speculation created significant confusion and concern in the marketplace. Not long after reports of this matter began to circulate, we saw a decline in both new VIP enrollments and appliance sales, and these declines continued throughout the second quarter. What we know is this: Vivos products are FDA-approved for their indicated uses, and we believe this creates an opportunity for us to distinguish our products from lesser competition. So while we’ve faced some headwinds in the market on the revenue side, we also see new opportunities emerging as we seek to achieve revenue momentum across our entire suite of products.”“The second quarter also saw continued progress in our pilot tests with certain Dental Service Organizations (“DSOs”), including the execution of new and existing pilots during the quarter with eight regional and national DSOs representing over 1,000 locations nationwide. We also executed our first non-exclusive distribution agreement for a 90-day pilot with a nationally recognized durable medical equipment company (“DME”) focused on the respiratory space, that serves hundreds of thousands of CPAP patients nationwide who are seeking alternatives. We hope to provide further public details about this DME collaboration following the conclusion of the 90-day trial, but so far it appears promising as a means of expanding our sales reach. Our team is very excited about these relationships and we expect to enter into additional, similar relationships during the remainder of 2023 and beyond,” continued Mr. Huntsman.“Through the combination of our strategic revenue initiatives, internal operating cost reductions, and new capital raising initiatives, we believe we have positioned Vivos to achieve revenue growth and, ultimately, cash flow positive operations and profitability in the foreseeable future. In summary, while the larger economic and market environment is creating challenges for both the medical and dental communities, Vivos has taken steps to address those challenges and our long-term growth drivers remain in place. With our innovative, evidence-based technology and network of trained providers, we remain committed to our core mission of addressing the crisis of sleep apnea and breathing related sleep issues,” Mr. Huntsman concluded.Vivos encourages investors and other interested parties to join its conference call today at 6:00 p.m. Eastern time (details below), where management will discuss further details on topics including: (i) Vivos’ expanded product line and revenue potential, (ii) the potential significant impact of Vivos’ recent discussions with DME companies on Vivos’ near-term growth, (iii) an update on Vivos’ DSO and DME sales and marketing efforts; (iv) additional programs for dentists to enroll with Vivos, and (v) Vivos’ current cash position and actions taken to reduce cash burn.In addition, further information on Vivos’ financial results is included on the attached unaudited condensed consolidated balance sheets and statements of operations, and additional explanations of Vivos’ financial performance are provided in the Vivos’ Quarterly Report on Form 10-Q for the three and six months ended June 30, 2023, which will be filed with the Securities and Exchange Commission (“SEC”). The full 10-Q report will be available on the SEC Filings section of the Investor Relations section of Vivos’ website at https://vivos.com/investor-relations.Conference CallTo access Vivos’ investor conference call, please dial (877) 451-6152, or for international callers, (201) 389-0879. A replay will be available shortly after the call and can be accessed by dialing (844) 512-2921, or for international callers, (412) 317-6671. The passcode for the live call and the replay is 13740723. The replay will be available until August 30, 2023.A live webcast of the conference call can be accessed on Vivos’ website at https://vivos.com/investor-relations. An online archive of the webcast will be available on the Company’s website for 30 days following the call.About Vivos Therapeutics, Inc.Vivos Therapeutics, Inc. (NASDAQ: VVOS) is a medical technology company focused on developing and commercializing innovative diagnostic and treatment methods for patients suffering from breathing and sleep issues arising from certain dentofacial abnormalities such as mild-to-moderate obstructive sleep apnea (OSA) and snoring in adults. The Vivos Method represents the first clinically effective nonsurgical, noninvasive, nonpharmaceutical and cost-effective solution for treating mild to moderate OSA. It has proven effective in approximately 40,000 patients treated worldwide by more than 1,800 trained dentists.The Vivos Method includes the Vivos Complete Airway Repositioning and/or Expansion (CARE) appliance therapy and associated protocols that alter the size, shape and position of the soft tissues that comprise a patient’s upper airway and/or palate. The Vivos Method opens airway space and may significantly reduce symptoms and conditions associated with mild-to-moderate OSA, such as lowering Apnea Hypopnea Index scores. Vivos also markets and distributes SleepImage diagnostic technology under its VivoScore program for home sleep testing in adults and children. The Vivos Integrated Practice (VIP) program offers dentists training and other value-added services in connection with using The Vivos Method.For more information, visit www.vivos.com.Cautionary Note Regarding Forward-Looking StatementsThis press release, the conference call referred to herein, and statements of the Company’s management made in connection therewith contain “forward-looking statements” (as defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended) concerning future events, particularly with respect to the public offering described herein. Words such as “may”, “should”, “expects”, “projects,” “intends”, “plans”, “believes”, “anticipates”, “hopes”, “estimates”, “goal” and variations of such words and similar expressions are intended to identify forward-looking statements. These statements involve significant known and unknown risks and are based upon several assumptions and estimates, which are inherently subject to significant uncertainties and contingencies, many of which are beyond Vivos’ control. Actual results (including, without limitation, the results of Vivos’ sales, marketing and cost cutting initiatives as described herein) may differ materially from those expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially include, but are not limited to: (i) the risk that Vivos may be unable to implement revenue, sales and marketing strategies that increase revenues, (ii) risks associated with regulatory scrutiny of and adverse publicity in the sleep apnea treatment sector; (iii) the risk that Vivos may be unable to secure additional financings on reasonable terms when needed, if at all and (iv) other risk factors described in Vivos’ filings with the Securities and Exchange Commission (“SEC”). Vivos’ filings can be obtained free of charge on the SEC’s website at www.sec.gov. Except to the extent required by law, Vivos expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in Vivos’ expectations with respect thereto or any change in events, conditions, or circumstances on which any statement is based.Vivos Investor Relations Contact:Julie GannonInvestor Relations [email protected] Follow-VIVOS THERAPEUTICS INC.Unaudited Condensed Consolidated Balance Sheets(In Thousands, Except Per Share Amounts)   June 30, 2023  December 31, 2022        Current assets        Cash and cash equivalents $3,942  $3,519 Accounts receivable, net of allowance of $251 and $712, respectively  327   457 Prepaid expenses and other current assets  1,073   1,448          Total current assets  5,342   5,424          Long-term assets        Goodwill  2,843   2,843 Property and equipment, net  3,267   3,082 Operating lease right-of-use asset  1,544   1,695 Intangible assets, net  445   302 Deposits and other  308   374          Total assets $13,749  $13,720          LIABILITIES AND STOCKHOLDERS’ EQUITY        Current liabilities        Accounts payable $1,325  $1,411 Accrued expenses  1,949   1,912 Warrant liability  2,200   - Current portion of contract liabilities  2,359   2,926 Current portion of operating lease liability  447   419 Other current liabilities  160   145          Total current liabilities  8,440   6,813          Long-term liabilities        Contract liabilities, net of current portion  264   112 Employee retention credit liability  1,175   - Operating lease liability, net of current portion  1,764   1,994          Total liabilities  11,643   8,919          Commitments and contingencies                 Stockholders’ equity        Preferred Stock, $0.0001 par value per share. Authorized 50,000,000 shares; no shares issued and outstanding  -   - Common Stock, $0.0001 par value per share. Authorized 200,000,000 shares; issued and outstanding 29,928,786 shares as of June 30, 2023 and 23,012,119 shares as December 31, 2022  3   2 Additional paid-in capital  88,802   84,267 Accumulated deficit  (86,699)  (79,468)Total stockholders’ equity  2,106   4,801 Total liabilities and stockholders’ equity $13,749  $13,720          VIVOS THERAPEUTICS INC.Unaudited Condensed Consolidated Statements of Operations(In Thousands, Except Per Share Amounts)  Three Months Ended June 30,  Six Months Ended June 30,   2023  2022  2023  2022 Revenue                Product revenue $1,546  $2,293  $3,318  $4,342 Service revenue  1,849   1,891   3,935   3,486 Total revenue  3,395   4,184   7,253   7,828                  Cost of sales (exclusive of depreciation and amortization shown separately below)  1,297   1,596   2,817   2,689                  Gross profit  2,098   2,588   4,436   5,139                  Operating expenses                General and administrative  5,877   7,691   12,414   15,497 Sales and marketing  590   1,699   1,220   2,879 Depreciation and amortization  148   162   323   324                  Total operating expenses  6,615   9,552   13,957   18,700                  Operating loss  (4,517)  (6,964)  (9,521)  (13,561)                 Non-operating income (expense)                Other expense  (225)  (37)  (174)  (116)PPP loan forgiveness  -   -   -   1,287 Excess warrant fair value  -   -   (6,453)  - Change in fair value of warrant liability, net of issuance costs of $645  (867)  -   8,761   - Other income  81   9   156   68                  Net loss $(5,528) $(6,992) $(7,231) $(12,322)                 Net loss per share (basic and diluted) $(0.18) $(0.33) $(0.26) $(0.58)                 Weighted average number of shares of Common Stock outstanding (basic and diluted)  29,928,786   21,233,485   28,245,084   21,233,485                  

GlobeNewswire

Vivos Therapeutics Reports Second Quarter 2023 Financial Results and Provides Operational Update

https://finance.yahoo.com/news/vivos-therapeutics-reports-second-quarter-200500695.html

07850071-d5f8-3fd6-b5d7-dacadec77e5f

VVOS

The price trend for Vivos Therapeutics, Inc. (VVOS) has been bearish lately and the stock has lost 18.7% over the past week. However, the formation of a hammer chart pattern in its last trading session indicates that the stock could witness a trend reversal soon, as bulls might have gained significant control over the price to help it find support.The formation of a hammer pattern is considered a technical indication of nearing a bottom with likely subsiding of selling pressure. But this is not the only factor that makes a bullish case for the stock. On the fundamental side, strong agreement among Wall Street analysts in raising earnings estimates for this company enhances its prospects of a trend reversal.Understanding Hammer Chart and the Technique to Trade ItThis is one of the popular price patterns in candlestick charting. A minor difference between the opening and closing prices forms a small candle body, and a higher difference between the low of the day and the open or close forms a long lower wick (or vertical line). The length of the lower wick being at least twice the length of the real body, the candle resembles a 'hammer.'In simple terms, during a downtrend, with bears having absolute control, a stock usually opens lower compared to the previous day's close, and again closes lower. On the day the hammer pattern is formed, maintaining the downtrend, the stock makes a new low. However, after eventually finding support at the low of the day, some amount of buying interest emerges, pushing the stock up to close the session near or slightly above its opening price.When it occurs at the bottom of a downtrend, this pattern signals that the bears might have lost control over the price. And, the success of bulls in stopping the price from falling further indicates a potential trend reversal.Hammer candles can occur on any timeframe -- such as one-minute, daily, weekly -- and are utilized by both short-term as well as long-term investors.Story continuesLike every technical indicator, the hammer chart pattern has its limitations. Particularly, as the strength of a hammer depends on its placement on the chart, it should always be used in conjunction with other bullish indicators.Here's What Increases the Odds of a Turnaround for VVOSThere has been an upward trend in earnings estimate revisions for VVOS lately, which can certainly be considered a bullish indicator on the fundamental side. That's because a positive trend in earnings estimate revisions usually translates into price appreciation in the near term.The consensus EPS estimate for the current year has increased 3.8% over the last 30 days. This means that the Wall Street analysts covering VVOS are majorly in agreement about the company's potential to report better earnings than what they predicted earlier.If this is not enough, you should note that VVOS 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. And stocks carrying a Zacks Rank #1 or 2 usually outperform the market. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>Moreover, a Zacks Rank of 2 for Vivos Therapeutics, Inc. is a more conclusive indication of a potential trend reversal, as the Zacks Rank has proven to be an excellent timing indicator that helps investors identify precisely when a company's prospects are beginning to improve.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 reportVivos Therapeutics, Inc. (VVOS) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

Here's Why Vivos Therapeutics, Inc. (VVOS) Could be Great Choice for a Bottom Fisher

https://finance.yahoo.com/news/heres-why-vivos-therapeutics-inc-135507099.html

98df5950-a1bb-30a9-872d-1cb44b2bee82

VZ

While telecom giants AT&T (NYSE: T) and Verizon (NYSE: VZ) are known for paying generous dividends to investors, T-Mobile (NASDAQ: TMUS) has avoided paying dividends up until now. The company has returned cash to shareholders in the form of share buybacks, but never direct dividend payments. T-Mobile announced on Sept. 6 that it plans to declare its first quarterly dividend in the fourth quarter, with an expected total payment of approximately $750 million.Continue reading

Motley Fool

Is T-Mobile a Top Dividend Stock?

https://finance.yahoo.com/m/34747155-e1e9-3e8d-b450-474dc424bf64/is-t-mobile-a-top-dividend.html

34747155-e1e9-3e8d-b450-474dc424bf64

VZ

Verizon Communications Inc. (NYSE:VZ) will increase its dividend on the 1st of November to $0.665, which is 1.9% higher than last year's payment from the same period of $0.653. This makes the dividend yield about the same as the industry average at 7.8%. See our latest analysis for Verizon Communications Verizon Communications' Earnings Easily Cover The DistributionsUnless the payments are sustainable, the dividend yield doesn't mean too much. Prior to this announcement, Verizon Communications was quite comfortably covering its dividend with earnings and it was paying more than 75% of its free cash flow to shareholders. By paying out so much of its cash flows, this could indicate that the company has limited opportunities for investment and growth.Looking forward, earnings per share is forecast to fall by 0.3% over the next year. If the dividend continues along the path it has been on recently, we estimate the payout ratio could be 54%, which is comfortable for the company to continue in the future.historic-dividendVerizon Communications Has A Solid Track RecordThe company has an extended history of paying stable dividends. The dividend has gone from an annual total of $2.06 in 2013 to the most recent total annual payment of $2.61. This implies that the company grew its distributions at a yearly rate of about 2.4% over that duration. While the consistency in the dividend payments is impressive, we think the relatively slow rate of growth is less attractive.Dividend Growth May Be Hard To Come ByInvestors could be attracted to the stock based on the quality of its payment history. Let's not jump to conclusions as things might not be as good as they appear on the surface. Verizon Communications has seen earnings per share falling at 7.9% per year over the last five years. Declining earnings will inevitably lead to the company paying a lower dividend in line with lower profits.Our Thoughts On Verizon Communications' DividendIn summary, while it's always good to see the dividend being raised, we don't think Verizon Communications' payments are rock solid. The company hasn't been paying a very consistent dividend over time, despite only paying out a small portion of earnings. This company is not in the top tier of income providing stocks.Market movements attest to how highly valued a consistent dividend policy is compared to one which is more unpredictable. At the same time, there are other factors our readers should be conscious of before pouring capital into a stock. For example, we've picked out 1 warning sign for Verizon Communications that investors should know about before committing capital to this stock. Is Verizon Communications not quite the opportunity you were looking for? Why not check out 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.

Verizon Communications (NYSE:VZ) Is Paying Out A Larger Dividend Than Last Year

https://finance.yahoo.com/news/verizon-communications-nyse-vz-paying-120836415.html

cc598917-a381-3d38-9ff9-4092ccbbe9e3

W

Value-focused investors are always on the hunt for stocks that are priced below their intrinsic value. One such stock that merits attention is Wayfair Inc (NYSE:W). The stock, which is currently priced at 72.12, recorded a loss of 3.58% in a day and a 3-month increase of 45.03%. The stock's fair valuation is $115.72, as indicated by its GF Value.Understanding the GF ValueWarning! GuruFocus has detected 6 Warning Signs with W. Click here to check it out. W 30-Year Financial DataThe intrinsic value of WThe 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: historical multiples (PE Ratio, PS Ratio, PB Ratio and Price-to-Free-Cash-Flow) that the stock has traded at, GuruFocus adjustment factor based on the company's past returns and growth, and future estimates of the business performance.Wayfair (W): A Smart Investment or a Value Trap? An In-Depth ExplorationWayfair's Risk FactorsHowever, investors need to consider a more in-depth analysis before making an investment decision. Despite its seemingly attractive valuation, certain risk factors associated with Wayfair should not be ignored. These risks are primarily reflected through its low Altman Z-score of 1.77. These indicators suggest that Wayfair, despite its apparent undervaluation, might be a potential value trap. This complexity underlines the importance of thorough due diligence in investment decision-making.Understanding the Altman Z-ScoreBefore 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.Story continuesWayfair at a GlanceWayfair engages in e-commerce in the United States (86% of 2022 sales), Canada, the United Kingdom, Germany, and Ireland. At the end of 2022, the firm offered more than 40 million products from more than 20,000 suppliers under the brands Wayfair, Joss & Main, AllModern, Birch Lane, and Perigold. Its offerings include furniture, everyday and seasonal decor, decorative accents, housewares, and other home goods. Wayfair was founded in 2002 and began trading publicly in 2014.Wayfair (W): A Smart Investment or a Value Trap? An In-Depth ExplorationWayfair's Risk IndicatorsA dissection of Wayfair's Altman Z-score reveals Wayfair's financial health may be weak, suggesting possible financial distress. The Retained Earnings to Total Assets ratio provides insights into a company's capability to reinvest its profits or manage debt. Evaluating Wayfair's historical data, 2021: -0.36; 2022: -0.65; 2023: -1.09, we observe a declining trend in this ratio. This downward movement indicates Wayfair's diminishing ability to reinvest in its business or effectively manage its debt. Consequently, it exerts a negative impact on its Z-Score.The EBIT to Total Assets ratio serves as a crucial barometer of a company's operational effectiveness, correlating earnings before interest and taxes (EBIT) to total assets. An analysis of Wayfair's EBIT to Total Assets ratio from historical data (2021: 0.10; 2022: -0.23; 2023: -0.30) indicates a descending trend. This reduction suggests that Wayfair might not be utilizing its assets to their full potential to generate operational profits, which could be negatively affecting the company's overall Z-score.When it comes to operational efficiency, a vital indicator for Wayfair is its asset turnover. The data: 2021: 3.23; 2022: 2.87; 2023: 3.32 from the past three years suggests a decreasing trend in this ratio. The asset turnover ratio reflects how effectively a company is using its assets to generate sales. Therefore, a drop in this ratio can signify reduced operational efficiency, potentially due to underutilization of assets or decreased market demand for the company's products or services. This shift in Wayfair's asset turnover underlines the need for the company to reassess its operational strategies to optimize asset usage and boost sales.ConclusionConsidering the above factors, it becomes evident that despite its seemingly attractive valuation, Wayfair may indeed be a potential value trap. The company's declining ratios and low Altman Z-Score indicate potential financial distress and reduced operational efficiency. Therefore, investors should exercise caution and conduct thorough due diligence before investing in Wayfair.GuruFocus Premium members can find stocks with high Altman Z-Score using the following Screener: Walter Schloss Screen .This article first appeared on GuruFocus.

GuruFocus.com

Wayfair (W): A Smart Investment or a Value Trap? An In-Depth Exploration

https://finance.yahoo.com/news/wayfair-w-smart-investment-value-164238140.html

9747a172-4483-3b46-a324-687f4f200314

W

On September 7, 2023, Niraj Shah, CEO and 10% owner of Wayfair Inc (NYSE:W), sold 10,000 shares of the company. This move is part of a series of insider transactions that have taken place over the past year.Warning! GuruFocus has detected 6 Warning Signs with W. Click here to check it out. W 30-Year Financial DataThe intrinsic value of WNiraj Shah is a co-founder of Wayfair Inc, a leading e-commerce platform offering home goods, including furniture and decor. Shah has been instrumental in the company's growth, leading it from a two-person operation to a global corporation with thousands of employees and customers worldwide.Wayfair Inc is an American e-commerce company that sells home goods. The company was formerly known as CSN Stores and changed its name to Wayfair in 2011. Wayfair's digital platform offers 14 million items from more than 11,000 global suppliers. The company has operations throughout North America and Europe.Over the past year, the insider has sold 10,000 shares in total and purchased 0 shares in total. This trend is reflected in the company's overall insider transaction history, which shows 0 insider buys and 54 insider sells over the past year.Insider Sell: CEO, 10% Owner Niraj Shah Sells 10,000 Shares of Wayfair IncThe relationship between insider transactions and stock price can provide valuable insights into the company's financial health and future prospects. In the case of Wayfair Inc, the insider's sell transactions may suggest a cautious outlook. However, it's important to note that insider transactions are just one of many factors that investors should consider when evaluating a stock.On the day of the insider's recent sell, shares of Wayfair Inc were trading for $70.37 apiece, giving the stock a market cap of $8.25 billion. This valuation is based on the company's current share price and the total number of outstanding shares.According to GuruFocus Value, with a price of $70.37 and a GuruFocus Value of $115.87, Wayfair Inc has a price-to-GF-Value ratio of 0.61. This suggests that the stock is a possible value trap, and investors should think twice before investing.Story continuesInsider Sell: CEO, 10% Owner Niraj Shah Sells 10,000 Shares of Wayfair IncThe GF Value is an intrinsic value estimate developed by GuruFocus. It is calculated based on historical multiples that the stock has traded at, a GuruFocus adjustment factor based on the company's past returns and growth, and future estimates of business performance from Morningstar analysts.In conclusion, while the insider's recent sell transaction may raise some concerns, it's crucial for investors to consider the broader context, including the company's overall financial health, market conditions, and other relevant factors. As always, thorough research and careful analysis are key to making informed investment decisions.This article first appeared on GuruFocus.

GuruFocus.com

Insider Sell: CEO, 10% Owner Niraj Shah Sells 10,000 Shares of Wayfair Inc

https://finance.yahoo.com/news/insider-sell-ceo-10-owner-170436929.html

794831c7-844e-3ce4-97c8-74b026dd521e

WAB

The four-year deal addresses grievance procedures, health care benefits, vacation time and wage policies.Continue reading

American City Business Journals

Union workers ratify labor agreement with Wabtec, ending 10-week strike at Erie manufacturing plant

https://finance.yahoo.com/m/8f8e846e-17e0-3f8e-aea3-a21047cbec29/union-workers-ratify-labor.html

8f8e846e-17e0-3f8e-aea3-a21047cbec29

WAB

Today we're going to take a look at the well-established Westinghouse Air Brake Technologies Corporation (NYSE:WAB). The company's stock saw a double-digit share price rise of over 10% in the past couple of months on the NYSE. With many analysts covering the large-cap stock, we may expect any price-sensitive announcements have already been factored into the stock’s share price. However, could the stock still be trading at a relatively cheap price? Let’s examine Westinghouse Air Brake Technologies’s valuation and outlook in more detail to determine if there’s still a bargain opportunity. View our latest analysis for Westinghouse Air Brake Technologies Is Westinghouse Air Brake Technologies Still Cheap?According to my valuation model, Westinghouse Air Brake Technologies seems to be fairly priced at around 16% below my intrinsic value, which means if you buy Westinghouse Air Brake Technologies today, you’d be paying a fair price for it. And if you believe the company’s true value is $131.21, then there’s not much of an upside to gain from mispricing. So, is there another chance to buy low in the future? Given that Westinghouse Air Brake Technologies’s share is fairly volatile (i.e. its price movements are magnified relative to the rest of the market) this could mean the price can sink lower, giving us an opportunity to buy later on. This is based on its high beta, which is a good indicator for share price volatility.What does the future of Westinghouse Air Brake Technologies look like?earnings-and-revenue-growthInvestors looking for growth in their portfolio may want to consider the prospects of a company before buying its shares. Buying a great company with a robust outlook at a cheap price is always a good investment, so let’s also take a look at the company's future expectations. Westinghouse Air Brake Technologies' earnings over the next few years are expected to increase by 68%, indicating a highly optimistic future ahead. This should lead to more robust cash flows, feeding into a higher share value.Story continuesWhat This Means For YouAre you a shareholder? WAB’s optimistic future growth appears to have been factored into the current share price, with shares trading around its fair value. However, there are also other important factors which we haven’t considered today, such as the financial strength of the company. Have these factors changed since the last time you looked at the stock? Will you have enough confidence to invest in the company should the price drop below its fair value?Are you a potential investor? If you’ve been keeping an eye on WAB, now may not be the most advantageous time to buy, given it is trading around its fair value. However, the positive outlook is encouraging for the company, which means it’s worth diving deeper into other factors such as the strength of its balance sheet, in order to take advantage of the next price drop.With this in mind, we wouldn't consider investing in a stock unless we had a thorough understanding of the risks. While conducting our analysis, we found that Westinghouse Air Brake Technologies has 1 warning sign and it would be unwise to ignore this.If you are no longer interested in Westinghouse Air Brake Technologies, you can use our free platform to see our list of over 50 other stocks with a high growth potential.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 Now The Time To Look At Buying Westinghouse Air Brake Technologies Corporation (NYSE:WAB)?

https://finance.yahoo.com/news/now-time-look-buying-westinghouse-162440868.html

2a1b4ba0-87f3-36ed-a358-548d421a78de

WAT

Let's talk about the popular Waters Corporation (NYSE:WAT). The company's shares saw a double-digit share price rise of over 10% in the past couple of months on the NYSE. As a large-cap stock with high coverage by analysts, you could assume any recent changes in the company’s outlook is already priced into the stock. However, could the stock still be trading at a relatively cheap price? Let’s take a look at Waters’s outlook and value based on the most recent financial data to see if the opportunity still exists. See our latest analysis for Waters What Is Waters Worth?According to my valuation model, Waters seems to be fairly priced at around 6.5% below my intrinsic value, which means if you buy Waters today, you’d be paying a reasonable price for it. And if you believe that the stock is really worth $300.64, then there isn’t much room for the share price grow beyond what it’s currently trading. Furthermore, Waters’s low beta implies that the stock is less volatile than the wider market.What kind of growth will Waters generate?earnings-and-revenue-growthInvestors looking for growth in their portfolio may want to consider the prospects of a company before buying its shares. Although value investors would argue that it’s the intrinsic value relative to the price that matter the most, a more compelling investment thesis would be high growth potential at a cheap price. Waters' earnings over the next few years are expected to increase by 25%, indicating a highly optimistic future ahead. This should lead to more robust cash flows, feeding into a higher share value.What This Means For YouAre you a shareholder? WAT’s optimistic future growth appears to have been factored into the current share price, with shares trading around its fair value. However, there are also other important factors which we haven’t considered today, such as the track record of its management team. Have these factors changed since the last time you looked at the stock? Will you have enough conviction to buy should the price fluctuates below the true value?Story continuesAre you a potential investor? If you’ve been keeping an eye on WAT, now may not be the most optimal time to buy, given it is trading around its fair value. However, the optimistic prospect is encouraging for the company, which means it’s worth diving deeper into other factors such as the strength of its balance sheet, in order to take advantage of the next price drop.So if you'd like to dive deeper into this stock, it's crucial to consider any risks it's facing. While conducting our analysis, we found that Waters has 1 warning sign and it would be unwise to ignore it.If you are no longer interested in Waters, you can use our free platform to see our list of over 50 other stocks with a high growth potential.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.

At US$281, Is Waters Corporation (NYSE:WAT) Worth Looking At Closely?

https://finance.yahoo.com/news/us-281-waters-corporation-nyse-114900395.html

b3688935-ce06-33d5-a558-71b5bcec7f30

WAT

Waters Corp (NYSE:WAT) has recently been in the spotlight, drawing interest from investors and financial analysts due to its robust financial stance. With shares currently priced at 265.19, Waters Corp has witnessed a decline of 1.89% over a period, marked against a three-month change of 5.94%. A thorough analysis, underlined by the GuruFocus Score Rating, suggests that Waters Corp is well-positioned for substantial growth in the near future.Warning! GuruFocus has detected 3 Warning Signs with SPR. Click here to check it out. WAT 30-Year Financial DataThe intrinsic value of WATUnveiling the Investment Potential of Waters Corp (WAT): A Comprehensive Analysis of Financial Metrics and Market PositionDecoding the GF ScoreThe GF Score is a stock performance ranking system developed by GuruFocus using five aspects of valuation, which has been found to be closely correlated to the long-term performances of stocks by backtesting from 2006 to 2021. The stocks with a higher GF Score generally generate higher returns than those with a lower GF Score. Therefore, when picking stocks, investors should invest in companies with high GF Scores. The GF Score ranges from 0 to 100, with 100 as the highest rank.Here is a breakdown of Waters Corp's GF Score:1. Financial strength rank: 5/102. Profitability rank: 10/103. Growth rank: 10/104. GF Value rank: 9/105. Momentum rank: 5/10Each one of these components is ranked and the ranks also have positive correlation with the long term performances of stocks. The GF score is calculated using the five key aspects of analysis. Through backtesting, we know that each of these key aspects has a different impact on the stock price performance. Thus, they are weighted differently when calculating the total score. With high ranks in profitability and growth, and moderate ranks in financial strength and momentum, GuruFocus assigned Waters Corp the GF Score of 95 out of 100, which signals the highest outperformance potential.Understanding Waters Corp's BusinessWaters Corp, with a market cap of $15.67 billion, is a leading player in the analytical instruments industry. The company sells liquid chromatography, mass spectrometry, and thermal analysis tools, which provide essential information on various products, such as their molecular structures and physical properties. This helps clients enhance the health and well-being of end users. In 2022, Waters generated 59% of its sales from pharmaceutical customers, 31% from industrial clients, and 10% from academic/government institutions. The company's operating margin stands at 28.48%, indicating a strong profitability level.Story continuesUnveiling the Investment Potential of Waters Corp (WAT): A Comprehensive Analysis of Financial Metrics and Market PositionProfitability Rank BreakdownThe Profitability Rank shows Waters Corp's impressive standing among its peers in generating profit. The company's strong Predictability Rank of 4.5 stars out of five underscores its consistent operational performance, providing investors with increased confidence.Growth Rank BreakdownRanked highly in Growth, Waters Corp demonstrates a strong commitment to expanding its business. The company's 3-Year Revenue Growth Rate is 11.7%, which outperforms better than 53.66% of 205 companies in the Medical Diagnostics & Research industry. Moreover, Waters Corp has seen a robust increase in its earnings before interest, taxes, depreciation, and amortization (EBITDA) over the past few years. Specifically, the three-year growth rate stands at 11.4, and the rate over the past five years is 11.5. This trend accentuates the company's continued capability to drive growth.Unveiling the Investment Potential of Waters Corp (WAT): A Comprehensive Analysis of Financial Metrics and Market PositionConclusionGiven Waters Corp's strong financial strength, profitability, and growth metrics, the GuruFocus Score Rating highlights the firm's unparalleled position for potential outperformance. This analysis underscores the company's robust financial health and its potential to deliver substantial returns to investors. GuruFocus Premium members can find more companies with strong GF Scores using the following screener link: GF Score ScreenThis article first appeared on GuruFocus.

GuruFocus.com

Unveiling the Investment Potential of Waters Corp (WAT): A Comprehensive Analysis of Financial ...

https://finance.yahoo.com/news/unveiling-investment-potential-waters-corp-170357940.html

51ff6e35-8151-325a-9ca5-d63cdcc4a12a

WATT

SAN JOSE, Calif., August 15, 2023--(BUSINESS WIRE)--Energous Corporation (NASDAQ: WATT), a leading developer of RF-based charging for wireless power networks, today announced that its Board of Directors (the "Board") has approved a 1-for-20 reverse stock split of the company’s common stock. The reverse stock split will become effective at 12:01am ET on August 16, 2023 and the company’s common stock will begin trading on a split-adjusted basis at the market open on August 16, 2023 with the new CUSIP number 29272C202.The company is implementing the reverse stock split to enable it to regain compliance with the $1.00 minimum bid price requirement for continued listing on The Nasdaq Capital Market.The reverse stock split was approved by the company’s stockholders at the company’s 2023 Annual Meeting, held on June 14, 2023, by a ratio not to exceed 1-for-20. As a result of the reverse stock split, every 20 shares of the company’s common stock issued and outstanding will be automatically reclassified into one share of common stock. No fractional shares will be issued in connection with the reverse split. Stockholders will be entitled to a cash payment in lieu of any fractional shares.All outstanding stock options, warrants, and equity incentive plans will be proportionately affected. The exercise prices of the outstanding stock options, warrants, and equity incentive plans will be adjusted in accordance with their respective terms. The reverse stock split will affect all stockholders uniformly and will not affect any stockholder's ownership percentage of the company’s shares, with the exception of those stockholders receiving cash in lieu of fractional shares.Equiniti Trust Company, LLC ("Equiniti") is acting as the exchange agent and transfer agent for the reverse stock split. Equiniti will provide instructions to stockholders with physical certificates regarding the process for exchanging their certificates for split-adjusted shares into "book- entry form" and receiving payment for fractional shares, if any. Those stockholders with common stock in "street name" will receive instructions from their brokers.Story continuesAdditional information about the reverse stock split can be found in the company’s definitive proxy statement on Schedule 14A filed with the SEC on May 1, 2023.About Energous CorporationEnergous Corporation (NASDAQ: WATT) has been pioneering wireless charging over distance technology since 2012. Today, as the global leader in wireless charging over distance, its networks are safely and seamlessly powering its customers’ RF-based systems in a variety of industries, including retail, industrial, healthcare and more. Its total network solution is designed to support a variety of applications, including inventory and asset tracking, smart manufacturing, electronic shelf labels, IoT sensors, digital supply chain management, inventory management, loss prevention, patient/people tracking and sustainability initiatives. The number of industries and applications it serves is rapidly growing as it works to support the next generation of the IoT ecosystem.Forward-Looking StatementsThis press release contains "forward-looking statements" within the meaning of the Securities Act of 1933, as amended, the Securities Exchange Act of 1934, as amended, and the safe-harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact included in this press release are forward-looking statements. Forward-looking statements may describe our future plans and expectations and are based on the current beliefs, expectations and assumptions of Energous. These statements generally use terms such as "believe," "expect," "may," "will," "should," "could," "seek," "intend," "plan," "estimate," "anticipate" or similar terms. Examples of forward-looking statements in this release include but are not limited to statements concerning our expectations regarding the effect of the reverse stock split, including its impact on our stock price and continued listing on The Nasdaq Capital Market. Factors that could cause actual results to differ from current expectations include: uncertain timing of necessary regulatory approvals; timing of customer product development and market success of customer products; our dependence on distribution partners; and intense industry competition. We urge you to consider those factors, and the other risks and uncertainties described in our most recent annual report on Form 10-K as filed with the Securities and Exchange Commission (SEC), any subsequent quarterly reports on Form 10-Q as well as in other documents that may be subsequently filed by Energous, from time to time, with the SEC, in evaluating our forward-looking statements. In addition, any forward-looking statements represent Energous’ views only as of the date of this release and should not be relied upon as representing its views as of any subsequent date. Energous does not assume any obligation to update any forward-looking statements unless required by law.View source version on businesswire.com: https://www.businesswire.com/news/home/20230815271463/en/ContactsEnergous Investor Relations:Padilla IR [email protected] Corporate Communications:SHIFT COMMUNICATIONS [email protected]

Business Wire

Energous Announces Reverse Stock Split

https://finance.yahoo.com/news/energous-announces-reverse-stock-split-165400168.html

bab0b2ee-3aa9-3c4c-911d-94913b9e3b4c

WATT

Radio-frequency wireless charging company Energous (NASDAQ: WATT) shorted out on Wednesday, as its stock lost 32.8% of its market capitalization through 1:55 p.m. ET. Just one week ago, Energous had a bit of an earnings beat when its second-quarter losses of $0.06 per share edged out analyst forecasts for a $0.07 loss pro forma, and revenue grew 21% year over year. One day after the earnings beat, all the gains evaporated as investors presumably keyed in on the facts that Energous was still losing money (even if it's losing less money than feared) and only selling about $117,000 worth of gear per quarter.Continue reading

Motley Fool

Why Energous Stock Crashed by 33% on Wednesday

https://finance.yahoo.com/m/e0f20b4e-2dc4-3351-9305-f166b70807b1/why-energous-stock-crashed-by.html

e0f20b4e-2dc4-3351-9305-f166b70807b1

WAVD

WaveDancer, Inc.FAIRFAX, Va., March 21, 2023 (GLOBE NEWSWIRE) -- WaveDancer, Inc., (NASDAQ: WAVD) announced today that it has sold its blockchain-enabled supply chain management software subsidiary, Gray Matters, Inc. (“GMI”) to Gray Matters Data Corporation (“GMDC”), whose lead investor is venture capital firm StealthPoint, LLC (“StealthPoint”). StealthPoint and its investors will invest $3 million of cash into GMDC with the option to invest an additional $1 million within 90 days of closing.WaveDancer has retained an indirect 20% interest in GMI through stock in GMDC received at closing. In addition, WaveDancer received $1 million of cash at closing and will receive annual contingent payments over the next seven years, up to a total of $4 million. Importantly, the transaction will eliminate over $2 million of annual WaveDancer operating expenses related to GMI. The full terms of the agreement will be included in a Form 8-K that will be available on the Company’s website.WaveDancer also announced that it will work with its advisor, B. Riley Securities, to immediately undertake a review of additional strategic options available to the Company including a merger or possible sale.“We acquired GMI in late 2021, to provide foundational capabilities to launch a supply chain security business powered by blockchain technology,” said CEO Jamie Benoit. “We encountered unanticipated challenges with the software product we acquired which required substantial modifications and disrupted our sales efforts. Additionally, deterioration in the capital market for early-stage technology companies, which occurred shortly after our purchase, adversely impacted our ability to raise capital required to fund GMI. After exploring several options, we determined the best course of action for WaveDancer shareholders was to place GMI into a vehicle better suited to attract the talent and capital necessary to continue the development of the product and bring it to the broader marketplace. We think we have found that in the team at StealthPoint.”Story continuesAs of the closing date, WaveDancer is entitled to a seat on the GMDC board and has nominated Jamie Benoit. No member of the WaveDancer Board of Directors, including the chairman, will have any investment in GMI, direct or indirect, other than through the ownership of WaveDancer shares.The Company also announced its intent to consider various strategic options for the company. “In addition to improving cash flow, the sale of GMI provides the Company with a cash infusion that will allow us to consider a range of options that would have otherwise been foreclosed,” continued Mr. Benoit. “Now that we’ve eliminated the risk and expense of commercializing new technology, we can evaluate various strategic alternatives including a business combination or a sale.”About WaveDancerWaveDancer, based in Fairfax, VA, has been servicing federal and commercial customers since 1979. It provides modernization, software development, and cybersecurity services to help organizations meet their business goals through technology. Their software development processes are appraised at CMMI Level 3 for their ability to consistently deliver high-quality projects using metrics to proactively manage risk.Additional information for investorsThis release may contain forward-looking statements regarding the Company's business, customer prospects, or other factors that may affect future earnings or financial results. Such statements involve risks and uncertainties which could cause actual results to vary materially from those expressed in the forward-looking statements. Investors should read and understand the risk factors detailed in the Company's 10-K for the fiscal year ended December 31, 2021 and in other filings with the Securities and Exchange Commission.For investor inquiries contact:Jeremy Hellman, CFA Vice President, The Equity Group Inc. [email protected](212) 836-9626

GlobeNewswire

WaveDancer Closes Majority Investment in Gray Matters, Inc. to Seasoned Start-up Investors; Announces Intent to Pursue Strategic Alternatives

https://finance.yahoo.com/news/wavedancer-closes-majority-investment-gray-203000425.html

65b9d9ad-8219-3a8e-9781-fdfe95d6485f

WAVD

WaveDancer, Inc.Will Provide Modernization Capabilities in Support of Large Financial ProgramFAIRFAX, Va., Aug. 02, 2023 (GLOBE NEWSWIRE) -- Tellenger, Inc., a subsidiary of WaveDancer, Inc., (NASDAQ: WAVD) announced today that it was awarded a seven-year contract by a large systems integrator to continue supporting a major financial program for a large U.S. Government (USG) customer. The company expects total revenues between $12 and $15 million over the course of the contract’s period of performance.Tellenger, a long-standing subcontractor partner to the USG customer, was originally tasked with modernizing the financial systems to allow for easier maintenance and greater reliability. This new multi-year award will continue enhancements in support of that effort, as well as add new functionality to advance the applications.“The work we are doing in collaboration with our teaming partner will ready this critical government financial application for the future,” said Stan Reese, Tellenger’s President/CEO. “This substantial new award reinforces Tellenger’s position as a leader in modernization and systems engineering. It is a testament to the significant value we bring to customers and partners through a commitment to delivering meaningful ROI with everything we do.”About TellengerTellenger (www.tellenger.com), a wholly owned subsidiary of WaveDancer, Inc., is headquartered in Fairfax, VA and has been servicing federal and commercial customers since 1979. It provides modernization, software development, and cybersecurity services to help organizations meet their business goals through technology. Their software development processes are appraised at CMMI Level 3 for their ability to consistently deliver high-quality projects using metrics to proactively manage risk. From business process re-engineering to cloud migrations to SaaS implementations and more, Tellenger uses technology to help clients in the private and public sectors increase productivity, gain efficiencies, and achieve KPIs.Story continuesAdditional information for investorsThis release may contain forward-looking statements regarding the Company's business, customer prospects, or other factors that may affect future earnings or financial results. Such statements involve risks and uncertainties which could cause actual results to vary materially from those expressed in the forward-looking statements. Investors should read and understand the risk factors detailed in the Company's 10-K for the fiscal year ended December 31, 2022 and in other filings with the Securities and Exchange Commission.For investor inquiries contact:Heather [email protected]

GlobeNewswire

Tellenger Wins Seven-Year U.S. Government Contract

https://finance.yahoo.com/news/tellenger-wins-seven-u-government-123000612.html

1f2480ff-c20d-339a-8168-81426a2f2643

WBA

Walgreens Boots Alliance, Inc. has signed off on an agreement to pay $44 million to settle a lawsuit brought by customers who received flawed results from blood tests conducted by Theranos during the pharmacy chain's partnership with the failed company founded by Elizabeth Holmes.Attorneys for the plaintiffs said in a filing this week in the U.S. District Court of Arizona that after nearly seven years of negotiating, the two sides had reached an agreement that would reimburse claimants roughly double what they paid out-of-pocket damages and "significant additional recoveries for those with battery claims against Walgreens."Drugstore chain Walgreens Boots Alliance has agreed to pay $44 million to settle lawsuits brought by customers who received faulty blood testing results because of the company's partnership with now-failed Silicon Valley company Theranos.Battery and medical battery claims were brought against Walgreens in the suit by consumers whose blood was drawn by Walgreens employees and then tested by Theranos, whose diagnostics were later discovered to be faulty.Theranos was founded by Holmes in 2003 but fell under scrutiny in 2015 after the Wall Street Journal exposed that the company was using traditional machines for its testing rather than its own technology and pointed to flaws in Theranos' diagnostics.WALGREENS CEO ROZ BREWER STEPS DOWNIn 2016, Walgreens announced that it was terminating its relationship with Theranos and closing operations at 40 blood-draw sites that the Silicon Valley company ran in Arizona at Walgreens' stores. Later that year, Walgreens sued Theranos for $140 million, accusing the blood-testing startup of breaching a contract.READ ON THE FOX BUSINESS APPElizabeth Holmes, former Theranos CEO and at one time the youngest self-made female billionaire, speaks in an interview on Sept. 29, 2015. Holmes was later convicted on fraud and other charges, and is currently serving an 11-year sentence.Theranos shut down operations in 2018, the same year Holmes and her former lover and top Theranos lieutenant, Ramesh "Sunny" Balwani, were indicted on fraud and other charges. Both were convicted on several counts and are incarcerated, with Holmes initially sentenced to more than 11 years behind bars and Balwani serving 13.THERANOS FOUNDER ELIZABETH HOLMES GETS PRISON SENTENCE SLASHED BY NEARLY 2 YEARSBalwani and Theranos ABC, the entity that holds what is left of Theranos, Inc.'s assets, also agreed to pay a combined $1.33 million to settle with the plaintiffs in the Walgreens class action. The filing said an agreement could not be reached with Holmes, who "does not have material personal resources to contribute to a settlement or to pay any judgment against her."Story continuesAlthough Walgreens agreed to settle the class-action lawsuit against it rather than go to trial, the pharmacy chain maintains it was duped by Theranos. According to the settlement filing, "Walgreens asserts both legal and factual defenses to Plaintiffs’ claims, including that it was a victim of Theranos’s fraud and did not know that Theranos’s tests were not market-ready."Original article source: Walgreens agrees to pay $44M to settle Theranos-linked claims

Fox Business

Walgreens agrees to pay $44M to settle Theranos-linked claims

https://finance.yahoo.com/news/walgreens-agrees-pay-44m-settle-174136602.html

8e4e8dc9-c786-31ce-b9df-11eade4cdce7

WBA

In the latest trading session, Walgreens Boots Alliance (WBA) closed at $21.99, marking a -0.23% move from the previous day. This move lagged the S&P 500's daily gain of 0.14%. At the same time, the Dow added 0.22%, and the tech-heavy Nasdaq gained 0.09%.Prior to today's trading, shares of the largest U.S. drugstore chain had lost 24.6% over the past month. This has lagged the Retail-Wholesale sector's loss of 2.45% and the S&P 500's loss of 1.27% in that time.Walgreens Boots Alliance will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $0.69, down 13.75% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $34.61 billion, up 6.67% from the year-ago period.Investors should also note any recent changes to analyst estimates for Walgreens Boots Alliance. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.41% lower. Walgreens Boots Alliance currently has a Zacks Rank of #4 (Sell).Digging into valuation, Walgreens Boots Alliance currently has a Forward P/E ratio of 5.73. This valuation marks a discount compared to its industry's average Forward P/E of 6.19.Also, we should mention that WBA has a PEG ratio of 1.15. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. Retail - Pharmacies and Drug Stores stocks are, on average, holding a PEG ratio of 1.2 based on yesterday's closing prices.Story continuesThe Retail - Pharmacies and Drug Stores industry is part of the Retail-Wholesale sector. This industry currently has a Zacks Industry Rank of 103, which puts it in the top 41% of all 250+ industries.The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.You can find more information on all of these metrics, and much more, on Zacks.com.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 reportWalgreens Boots Alliance, Inc. (WBA) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

Walgreens Boots Alliance (WBA) Stock Sinks As Market Gains: What You Should Know

https://finance.yahoo.com/news/walgreens-boots-alliance-wba-stock-214520149.html

57aa4ff8-d265-3a9a-910b-45df3f6f641a

WBD

Dispute with Charter has left millions without access to football and the U.S. Open—and could mean a permanent change to the business as customers flee to streaming at an accelerated paceContinue reading

The Wall Street Journal

Disney Fight Marks Cable TV’s Last Stand

https://finance.yahoo.com/m/ed2d97e3-c24f-3039-83a8-99a0fab50620/disney-fight-marks-cable-tv%E2%80%99s.html

ed2d97e3-c24f-3039-83a8-99a0fab50620

WBD

Jet fuel prices have increased 24% since the start of the industry’s second-quarter earnings season. United Airlines said Wednesday it expects third-quarter fuel costs between $2.95 and $3.05 a gallon. United shares fell 2.5% Tuesday.Continue reading

The Wall Street Journal

The Score: GameStop, Apple, Kroger and More Stocks That Defined the Week

https://finance.yahoo.com/m/e74e5284-e7bf-3286-bf5e-fe7dac58669c/the-score-gamestop-apple-.html

e74e5284-e7bf-3286-bf5e-fe7dac58669c

WBS

STAMFORD, CT / ACCESSWIRE / September 5, 2023 / Help us congratulate our 2023 Intern Class! Webster Bank hosted 25 students from 23 universities supporting 21 departments across Webster offices and HSA Bank, a division of Webster Bank, N.A. Their 10-week internship included orientation, teambuilding, Learning Wednesdays, and volunteering at three organizations - Junior Achievement of New York, Wellmore Behavioral Health and Feeding America Eastern Wisconsin. We thank them for an incredible summer and wish them continued success as they embark on their academic journey!Webster Bank's Internship Program allows students to workside by side with professional bankers, getting hands-on experience, broad exposure to its business and to discover the rewards of a career in banking.Learn more about internship opportunities at Webster Bank. View additional multimedia and more ESG storytelling from Webster Bank on 3blmedia.com.Contact Info:Spokesperson: Webster BankWebsite: https://www.3blmedia.com/profiles/webster-bankEmail: [email protected]: Webster BankView source version on accesswire.com: https://www.accesswire.com/780454/webster-bank-celebrates-its-2023-intern-class

ACCESSWIRE

Webster Bank Celebrates Its 2023 Intern Class

https://finance.yahoo.com/news/webster-bank-celebrates-2023-intern-141500058.html

f890a131-eaf2-329d-afd5-e86ba9dab7d1

WBS

Webster Financial Corporation’s WBS top-line growth is supported by a rise in net interest income (NII) on high rates and loan growth along with an increase in non-interest income. However, an unsound liquidity position makes it vulnerable to default interest and debt repayments.Webster Financial has a healthy balance sheet position with its deposits and loan balances rising over the years. This January, the company acquired StoneCastle Insured Sweep, LLC, which performs business as interLINK, to diversify its funding capabilities and add another technology-enabled platform to its system.Moreover, past acquisitions have driven HSA deposits, thereby increasing total deposits. We believe deposit and loan balances, supporting WBS’ strong balance sheet position, are poised to grow further from strategic buyouts. Management anticipates loan growth to be between 4% and 6% in 2023, with focus on strategic segments. Also, it projects core deposits (including customers certificate of deposits) to grow 8-10% in 2023.WBS has an impressive revenue growth story as NII and non-interest income have been rising over the years. In fact, high rates and decent loan growth will support NII in the upcoming quarters. Further, its merger deal with Sterling Bancorp has expanded selected commercial lending portfolios, HSA Bank and digital banking offerings, thus diversifying and unlocking new revenue-growth opportunities.Webster Financial is making efforts to drive cost savings to support its bottom-line growth. Although non-interest expenses have been rising on the back of merger and strategic initiative charges, the trend reversed in the first half of 2023. For 2023, management suggests core expenses to decrease to $1.2-$1.23 billion, with an efficiency ratio in the 40-42% band.However, WBS’s total debt (comprising long-term debt and federal home loan bank advances) was higher than its cash and due from banks as well as interest bearing deposits as on Jun 30, 2023. Moreover, cash and due from banks have witnessed a volatile trend over the past few years. Hence, we believe that it has a high chance of not been able to meet its debt obligations if the economic situation worsens.Story continuesFurther, sustainability of Webster Financial’s capital-distribution activities keeps us apprehensive. The last dividend hike by the company was in April 2019. Further, though WBS has a share repurchase plan in place, no shares were repurchased in the first half of 2023.Webster Financial is likely to prioritize capital utilization for organic growth opportunities, portfolio acquisitions and enhancement of other differentiated business lines over dividend hikes and share buybacks.The loan portfolio of WBS mostly comprises commercial loans. Since the current rapidly changing macroeconomic backdrop may put some strain on commercial lending, lack of loan portfolio diversification is likely to hurt its financials if the economic situation worsens.Shares of this Zacks Rank #3 (Hold) companyhave gained 4.3% over the past three months against the industry’s decline of 1.9%.Zacks Investment ResearchImage Source: Zacks Investment ResearchFinance Stocks Worth a LookA couple of better-ranked stocks from the finance space are BBVA USA Bancshares, Inc. BBVA and HSBC Holdings’ HSBC.BBVA’s current-year earnings estimate has been revised 4.4% upward over the past 30 days. BBVA’s shares have gained 5.3% over the past three months. The stock currently flaunts a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.The consensus estimate for HSBC’s current-year earnings has been revised 3.7% upward over the past 30 days. Over the past three months, HSBC’s share price has decreased 3.8%. The stock currently sports a Zacks Rank #1.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 reportBanco Bilbao Viscaya Argentaria S.A. (BBVA) : Free Stock Analysis ReportWebster Financial Corporation (WBS) : Free Stock Analysis ReportHSBC Holdings plc (HSBC) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

Organic Growth Aids Webster Financial (WBS), Higher Debt Ails

https://finance.yahoo.com/news/organic-growth-aids-webster-financial-170400639.html

1df85ad7-07ca-3956-9700-2a4b5e2b421d

WCC

Ferguson, Pool Corp., Watsco, and Wesco do well when prices are increasing and inventory gets marked up. What happens when inflation slows?Continue reading

Barrons.com

These Stocks Were Big Inflation Winners. Now They’re at Risk of a Slowdown.

https://finance.yahoo.com/m/7997d072-5002-3f9c-8514-0219b2cc956e/these-stocks-were-big.html

7997d072-5002-3f9c-8514-0219b2cc956e

WCC

WESCO International, Inc. (NYSE:WCC) stock is about to trade ex-dividend in 3 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. Thus, you can purchase WESCO International's shares before the 14th of September in order to receive the dividend, which the company will pay on the 29th of September.The company's next dividend payment will be US$0.38 per share. If you buy this business for its dividend, you should have an idea of whether WESCO International's dividend is reliable and sustainable. So we need to investigate whether WESCO International can afford its dividend, and if the dividend could grow. See our latest analysis for WESCO International Dividends are typically paid out of company income, so if a company pays out more than it earned, its dividend is usually at a higher risk of being cut. WESCO International is paying out just 4.8% of its profit after tax, which is comfortably low and leaves plenty of breathing room in the case of adverse events. Yet cash flows are even more important than profits for assessing a dividend, so we need to see if the company generated enough cash to pay its distribution. It distributed 36% of its free cash flow as dividends, a comfortable payout level for most companies.It's positive to see that WESCO International'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.Click here to see the company's payout ratio, plus analyst estimates of its future dividends.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. 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 WESCO International's earnings have been skyrocketing, up 35% per annum for the past five years. Earnings per share have been growing very quickly, and the company is paying out a relatively low percentage of its profit and cash flow. 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.Story continuesThis is WESCO International's first year of paying a dividend, so it doesn't have much of a history yet to compare to.To Sum It UpIs WESCO International worth buying for its dividend? WESCO International 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. Overall we think this is an attractive combination and worthy of further research.On that note, you'll want to research what risks WESCO International is facing. For example - WESCO International has 1 warning sign we think you should be aware of.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.

Is It Smart To Buy WESCO International, Inc. (NYSE:WCC) Before It Goes Ex-Dividend?

https://finance.yahoo.com/news/smart-buy-wesco-international-inc-121857193.html

7973175e-5813-3ff6-840f-b75bbcd365ae

WDAY

Workday, Inc. WDAY recently announced that it has extended its collaboration with Accenture to expedite the development of financial management solutions. The collaboration integrates Workday’s technology platform, foundational data model and advanced analytics with Accenture's industry expertise.The objective is to create a data-driven, client-oriented solution for financial planning and analysis to cater to the varied requirements of different industries. This partnership is aligned with Workday's Industry Accelerator initiative, which aims to meet the growing demand for digital transformation across various sectors.CFOs frequently face a multitude of challenges in the evolving business landscape. They need to maintain a delicate equilibrium between profitability and long-term sustainability and expansion. Effective financial management entails strategic planning, risk mitigation, cost optimization and the ability to adapt swiftly to dynamic market conditions.Workday’s financial management technology addresses these issues. It leverages a cloud-native platform powered by advanced AI and ML technology, in conjunction with industry-leading expertise in innovation, to craft highly configurable industry-specific solutions. This allows businesses to streamline their core financial operations while bolstering their resilience to the evolving business environment.Workday’s retail industry solutions encompass in-depth analytics and dashboards, providing detailed insights for retailers to assess store performance. This also features a workforce management solution, which facilitates efficient utilization of the workforce and improves store operations. In the media sector, Workday's offerings cover the monetization of media assets, training of media production and title amortization. In the software and technology domain, Workday’s solution will support enterprises with the customer billing process, revenue planning, spending and cash flow optimization.Salesforce, a leading provider of customer relationship management software, recently utilized Accenture design and execution support with Workday’s financial management tools. This will drive efficiency in Salesforce’s financial processes and offer business insights to streamline its global operations.Workday’s diversified product portfolio continues to yield a steady flow of customers. Its revenue growth continues to be driven by high demand for its HCM (Human Capital Management) and financial management solutions. The company’s cloud-based business model and expanding product portfolio have been the primary growth drivers. Moreover, the growing clout of Workday Prism Analytics and Adaptive Insights business planning cloud offerings holds promise.Workday is expanding its portfolio beyond core HCM solutions into the financial domain and is customizing them for diverse industries and verticals, such as education, the public and financial services, among others. This has helped the company witness strong renewals and expand its customer base as business enterprises aim to consolidate spending and improve efficiency levels.Story continuesManagement is putting a strong focus on integrating advanced AI and ML capabilities. The ongoing AI-powered product development emphasizes natural language generation, content search, summarization, content augmentation and document understanding. This augurs well for the long-term growth of the company.The stock has gained 47.4% in the past year compared with the industry’s growth of 12.9%.Zacks Investment ResearchImage Source: Zacks Investment ResearchWorkday currently carries a Zacks Rank #3 (Hold).Stocks to ConsiderMotorola Solutions, Inc. MSI, carrying a Zacks Rank #2 (Buy) at present, delivered an earnings surprise of 5.62%, on average, in the trailing four quarters. In the last reported quarter, it pulled off an earnings surprise of 5.58%. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.It provides services and solutions to government segments and public safety programs, along with large enterprises and wireless infrastructure service providers. It develops and services both analog and digital two-way radio, voice and data communications products and systems for private networks, wireless broadband systems and end-to-end enterprise mobility solutions to a wide range of enterprise markets.Splunk Inc. SPLK, sporting a Zacks Rank #1, delivered an earnings surprise of 154.90%, on average, in the trailing four quarters. In the last reported quarter, it delivered an earnings surprise of 69.05%.Splunk provides software solutions that enable enterprises to gain real-time operational intelligence by harnessing the value of their data. The company's offerings enable users to investigate, monitor, analyze and act on machine data and big data, irrespective of format or source, and help in operational decision-making.NVIDIA Corporation NVDA, currently sporting a Zacks Rank #1, delivered an earnings surprise of 9.79%, on average, in the trailing four quarters. In the last reported quarter, it pulled off an earnings surprise of 29.19%.NVIDIA is the worldwide leader in visual computing technologies and the inventor of the graphic processing unit or GPU. Over the years, the company’s focus has evolved from PC graphics to artificial intelligence-based solutions that now support high-performance computing, gaming and virtual reality platforms.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 reportNVIDIA Corporation (NVDA) : Free Stock Analysis ReportMotorola Solutions, Inc. (MSI) : Free Stock Analysis ReportSplunk Inc. (SPLK) : Free Stock Analysis ReportWorkday, Inc. (WDAY) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

Workday (WDAY), Accenture Team Up to Optimize Finance Management

https://finance.yahoo.com/news/workday-wday-accenture-team-optimize-162200857.html

efbf8d5d-55cc-3d0c-afdb-7732bbaba3d5

WDAY

Workday stock has soared this year, and co-CEO Carl M. Eschenbach recently picked up a large block of shares of the cloud-software company. Workday stock (ticker: WDAY) has tacked on about 50% year to date, trouncing the as big tech continues to have a boffo 2023. Workday has been reportingstrong earnings, and shares look on track to erase last year’s 39% plunge.Continue reading

Barrons.com

Workday Co-CEO Carl M. Eschenbach Scoops Up Stock

https://finance.yahoo.com/m/f75c554c-27be-3e9c-afc2-811926a49b0c/workday-co-ceo-carl-m-.html

f75c554c-27be-3e9c-afc2-811926a49b0c

WDC

It has been about a month since the last earnings report for Teradata (TDC). Shares have lost about 2.6% in that time frame, underperforming the S&P 500.Will the recent negative trend continue leading up to its next earnings release, or is Teradata due for a breakout? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important drivers.Teradata Q2 Earnings Beat Estimates, Revenues Rise Y/YTeradata reported second-quarter 2023 non-GAAP earnings of 48 cents per share. Further, the bottom line increased 45.4% from the year-ago quarter’s figure.Revenues of $462 million increased 7% year over year on a reported basis and 10% on a constant-currency (cc) basis.The increase in the top line was attributed to increasing recurring, perpetual and consulting revenues. Also, strong momentum across the Americas and Europe, the Middle East & Africa (EMEA) was a plus.Total annual recurring revenues (ARR) at the second quarter’s end increased 10% year over year to $1.523 billion. The figure increased by 9% on a cc basis.Public cloud ARR surged 77% on a reported basis and 76% at cc year over year to $414 million.Solid customer demand for Teradata VantageCloud was a positive.Top-Line DetailsRecurring revenues (accounting for 80% of revenues) increased 8% year over year on a reported basis (increased 10% at cc) to $371 million.Perpetual software license and hardware revenues (3% of revenues) were up 63% year over year (up 61% at cc) to $13 million..Consulting services’ revenues (17% of revenues) increased 1% from the year-ago level (increased 5% at cc) to $78 million..Revenues from the Americas increased 8% year over year on a reported basis (increased 10% at cc) to $268 million. EMEA revenues rose 15% from the year-ago figure (up 15% at cc) to $118 million. Revenues from the APJ region were down 3% from the year-ago level (up 2% at cc) to $76 million.Story continuesOperating DetailsThe gross margin on a non-GAAP basis was 60.6%, contracting 60 basis points (bps) year over year.Selling, general & administrative (SG&A) expenses increased 2.4% year over year to $167 million. Research & development (R&D) expenses were $76 million, decreasing 6.2% from the year-ago quarter. As a percentage of revenues, SG&A contracted 180 bps year over year to 36.1%, whereas R&D contracted 240 bps to 16.4%.The non-GAAP operating margin was 15.6%, up 280 bps from the year-ago quarter’s level.Balance SheetAs of Jun 30, 2023, Teradata had cash and cash equivalents of $504 million compared with $551 million as of Mar 31, 2023.Long-term debt at the end of the reported quarter was $492 million compared with $498 million at the end of the previous quarter.In the second quarter, Teradata generated $49 million in cash from operating activities compared with the previous quarter’s $109 million.Further, the company generated a free cash flow of $46 million in the reported quarter.GuidanceFor third-quarter 2023, non-GAAP earnings are expected to be between 40 and 44 cents per share.For 2023, the company kept its guidance for non-GAAP earnings at $1.92-$2.04.Public cloud ARR is projected to increase 53-57% on a year-over-year basis.Total ARR is expected to exhibit growth of 6-8% from the 2022 level.Teradata expects recurring revenues to increase 4-7% year over year.TDC projects total revenues to be up 1-4% from the year-ago reported figure.How Have Estimates Been Moving Since Then?In the past month, investors have witnessed an upward trend in estimates revision.The consensus estimate has shifted 9.24% due to these changes.VGM ScoresAt this time, Teradata has a great Growth Score of A, though it is lagging a lot on the Momentum Score front with an F. However, the stock was allocated a grade of C on the value side, putting it in the middle 20% for this investment strategy.Overall, the stock has an aggregate VGM Score of C. If you aren't focused on one strategy, this score is the one you should be interested in.OutlookEstimates have been trending upward for the stock, and the magnitude of these revisions looks promising. Notably, Teradata has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.Performance of an Industry PlayerTeradata is part of the Zacks Computer- Storage Devices industry. Over the past month, Western Digital (WDC), a stock from the same industry, has gained 6.1%. The company reported its results for the quarter ended June 2023 more than a month ago.Western Digital reported revenues of $2.67 billion in the last reported quarter, representing a year-over-year change of -41%. EPS of -$1.98 for the same period compares with $1.78 a year ago.For the current quarter, Western Digital is expected to post a loss of $1.91 per share, indicating a change of -1055% from the year-ago quarter. The Zacks Consensus Estimate remained unchanged over the last 30 days.The overall direction and magnitude of estimate revisions translate into a Zacks Rank #3 (Hold) for Western Digital. Also, 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 reportTeradata Corporation (TDC) : Free Stock Analysis ReportWestern Digital Corporation (WDC) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

Why Is Teradata (TDC) Down 2.6% Since Last Earnings Report?

https://finance.yahoo.com/news/why-teradata-tdc-down-2-153031283.html

cda6cafe-514e-397e-9a47-f39918c7b533

WDC

The sale comes after the computer storage maker posted a big annual loss and as a series of notes and a past-due tax bill come due.Continue reading

American City Business Journals

Amid cash pressures, Western Digital sells Milpitas campus for $193M

https://finance.yahoo.com/m/27e7aaf1-65a6-3b0a-b338-83c5bba5d985/amid-cash-pressures-western.html

27e7aaf1-65a6-3b0a-b338-83c5bba5d985

WEAV

New feature simplifies the process of collecting payments via a mobile deviceLEHI, Utah, August 29, 2023--(BUSINESS WIRE)--Weave (NYSE: WEAV), a leading all-in-one experience platform for small and medium-sized healthcare practices, today announced the addition of Scan to Pay to its comprehensive Payment Suite. This innovative feature allows businesses to streamline the payment process for their customers, enabling them to simply scan a QR code and complete their transactions within seconds.This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230829321931/en/Scan to Pay is a game-changer in the world of healthcare payments, providing a frictionless and secure experience for both providers and their clients and patients. With this new feature, patients can conveniently make payments without the need for physical cash or cards. By scanning the QR code generated by the provider from the Weave Mobile App, customers can quickly and securely complete transactions using their preferred payment method, such as digital wallets, payment plans, or by inputting credit card information."We are thrilled to present Scan to Pay as the latest addition to our array of payment solutions," remarked Branden Neish, Weave's Chief Product & Technology Officer. "This innovative addition underscores our dedication to leading in payment advancements and furnishing our customers with the means to process payments from anywhere, without a card or a payment terminal present."Security is at the forefront of Weave's Scan to Pay feature. With advanced encryption technology, businesses and customers can trust that payment information is kept private and secure throughout the transaction. This gives peace of mind to both parties involved, instilling confidence in customers while ensuring businesses meet high-security standards.Weave's Payment suite, already known for its robust capabilities, has now become even more versatile with the addition of Scan to Pay. Practices can enjoy the benefits of this new feature by providing their customers with seamless payment experiences, offering multiple payment options, and improving overall customer satisfaction. The integration of Scan to Pay into the Payment Suite further solidifies Weave's commitment to helping healthcare businesses thrive in the digital age.Story continuesFor more information about Weave and its communication software solutions, please visit www.getweave.com/weave-payments/.About WeaveWeave is the all-in-one customer communication and engagement platform for small- and medium-sized businesses. From the first phone call to the final invoice and every touchpoint in between, Weave connects the entire customer journey. Weave’s software solutions transform how local businesses attract, communicate with and engage customers to grow their business. Weave has set the bar for Utah startup achievement & work culture. In the past year, Weave has been named a G2 leader in Patient Engagement, Optometry, Dental Practice Management and Patient Relationship Management software. To learn more, visit getweave.com/newsroom/.View source version on businesswire.com: https://www.businesswire.com/news/home/20230829321931/en/ContactsZac JohnsonPR Coordinator, [email protected]

Business Wire

Weave Introduces Scan to Pay to Payment Suite

https://finance.yahoo.com/news/weave-introduces-scan-pay-payment-140000202.html

ff5c83eb-5056-308a-aac9-3b92b6cdfc79

WEAV

Weave Communications, Inc. (WEAV) closed at $9.66 in the latest trading session, marking a -0.31% move from the prior day. This move lagged the S&P 500's daily gain of 0.14%. At the same time, the Dow added 0.22%, and the tech-heavy Nasdaq gained 0.09%.Heading into today, shares of the company had lost 5.37% over the past month, lagging the Computer and Technology sector's gain of 0.07% and the S&P 500's loss of 1.27% in that time.Investors will be hoping for strength from Weave Communications, Inc. as it approaches its next earnings release. On that day, Weave Communications, Inc. is projected to report earnings of -$0.06 per share, which would represent year-over-year growth of 40%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $42.21 million, up 16.51% from the year-ago period.Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of -$0.22 per share and revenue of $165.8 million. These totals would mark changes of +54.17% and +16.66%, respectively, from last year.Any recent changes to analyst estimates for Weave Communications, Inc. should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Weave Communications, Inc. is holding a Zacks Rank of #3 (Hold) right now.Story continuesThe Communication - Network Software industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 167, putting it in the bottom 34% of all 250+ industries.The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.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 reportWeave Communications, Inc. (WEAV) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

Weave Communications, Inc. (WEAV) Stock Sinks As Market Gains: What You Should Know

https://finance.yahoo.com/news/weave-communications-inc-weav-stock-221518099.html

3b2b6aae-a005-3ae9-96e8-16ee7b07cb92

WEC

Investors interested in stocks from the Utility - Electric Power sector have probably already heard of FirstEnergy (FE) and WEC Energy Group (WEC). But which of these two companies is the best option for those looking for undervalued stocks? Let's take a closer look.We have found that the best way to discover great value opportunities is to pair a strong Zacks Rank with a great grade in the Value category of our Style Scores system. The proven Zacks Rank emphasizes companies with positive estimate revision trends, and our Style Scores highlight stocks with specific traits.Right now, FirstEnergy is sporting a Zacks Rank of #2 (Buy), while WEC Energy Group has a Zacks Rank of #3 (Hold). Investors should feel comfortable knowing that FE likely has seen a stronger improvement to its earnings outlook than WEC has recently. But this is only part of the picture for value investors.Value investors also tend to look at a number of traditional, tried-and-true figures to help them find stocks that they believe are undervalued at their current share price levels.The Value category of the Style Scores system identifies undervalued companies by looking at a number of key metrics. These include the long-favored P/E ratio, P/S ratio, earnings yield, cash flow per share, and a variety of other fundamentals that help us determine a company's fair value.FE currently has a forward P/E ratio of 14.24, while WEC has a forward P/E of 18.46. We also note that FE has a PEG ratio of 2.21. This popular figure is similar to the widely-used P/E ratio, but the PEG ratio also considers a company's expected EPS growth rate. WEC currently has a PEG ratio of 3.21.Another notable valuation metric for FE is its P/B ratio of 1.88. The P/B ratio pits a stock's market value against its book value, which is defined as total assets minus total liabilities. For comparison, WEC has a P/B of 2.24.These metrics, and several others, help FE earn a Value grade of B, while WEC has been given a Value grade of C.Story continuesFE is currently sporting an improving earnings outlook, which makes it stick out in our Zacks Rank model. And, based on the above valuation metrics, we feel that FE is likely the superior value option right now.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free reportFirstEnergy Corporation (FE) : Free Stock Analysis ReportWEC Energy Group, Inc. (WEC) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

FE or WEC: Which Is the Better Value Stock Right Now?

https://finance.yahoo.com/news/fe-wec-better-value-stock-154005877.html

cf17e211-7ad1-3abb-be48-e95d6d29c462

WEC

It has been about a month since the last earnings report for WEC Energy Group (WEC). Shares have lost about 4.8% in that time frame, underperforming the S&P 500.Will the recent negative trend continue leading up to its next earnings release, or is WEC Energy 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.WEC Energy Q2 Earnings Beat Estimates, Revenues LagWEC Energy Group reported second-quarter 2023 earnings of 92 cents per share, which beat the Zacks Consensus Estimate of 85 cents by 8.24%. The bottom line also increased 1.1% from the year-ago quarter’s figure of 91 cents.RevenuesOperating revenues of $1,830 million missed the Zacks Consensus Estimate of $2,166 million by around 15.5%. The top line also declined 14% from $2,127.9 million recorded in the year-ago quarter.Highlights of the ReleaseElectricity consumption by small commercial and industrial customers increased 0.1% year over year. The same for large commercial and industrial customers, excluding the iron ore mine, decreased 3.2% on a year-over-year basis.On a weather-normal basis, retail deliveries of electricity, excluding the iron ore mine, declined 0.6%.Total electric retail sales volume for the quarter was 8,620.8 thousand megawatt-hour (MWh), down 1.8% year over year. The Zacks Consensus Estimate for the same was pegged at 8,931 thousand MWh.Total electric sales volume for the quarter was 10,029.6 thousand MWh, down 2.4% year over year. Our model projected total electric sales volume of 10,847.7 thousand MWh for the quarter.Total operating expenses were $1,404.7 million, down 18.3% from the year-ago quarter’s level of $1,719.7 million.  This was due to lower cost of sales.Operating income totaled $425.3 million, up 4.2% from the year-ago quarter’s recorded number of $408.2 million.The company incurred an interest expense of $178.7 million, up 49.2% from the prior-year quarter’s level of $119.8 million. Our model projected interest expense of $170.8 million for the reported quarter.Story continuesFinancial PositionAs of Jun 30, 2023, WEC had cash and cash equivalents of $54.7 million compared with $28.9 million as of Dec 31, 2022.As of Jun 30, 2023, the company had long-term debt of $15,608.3 million compared with $14,766.2 million as of Dec 31, 2022.Net cash provided by operating activities during the first six months of 2023 was $1,754.3 million compared with $1,762.6 million in the year-ago period.GuidanceWEC reaffirmed its 2023 earnings guidance in the range of $4.58-$4.62 per share. The midpoint of the range, $4.60 per share, is on par with the Zacks Consensus Estimate.How Have Estimates Been Moving Since Then?It turns out, fresh estimates have trended downward during the past month.The consensus estimate has shifted -9.32% due to these changes.VGM ScoresCurrently, WEC Energy has an average Growth Score of C, though it is lagging a lot on the Momentum Score front with an F. However, the stock was allocated a grade of C on the value side, putting it in the middle 20% for this investment strategy.Overall, the stock has an aggregate VGM Score of D. If you aren't focused on one strategy, this score is the one you should be interested in.OutlookEstimates have been broadly trending downward for the stock, and the magnitude of these revisions indicates a downward shift. Notably, WEC Energy has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.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 reportWEC Energy Group, Inc. (WEC) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

Why Is WEC Energy (WEC) Down 4.8% Since Last Earnings Report?

https://finance.yahoo.com/news/why-wec-energy-wec-down-153130917.html

27e92047-10c0-323a-92ba-c7abbb62c4ed

WELL

Welltower Inc. WELL owns a well-diversified portfolio of healthcare real estate assets in major, high-growth markets of the United States, Canada and the United Kingdom. The rebound in the senior housing industry, portfolio-repositioning efforts and a healthy balance sheet position the company well for growth. However, competition and high interest rates make us apprehensive.The company’s seniors housing operating (SHO) portfolio segment is witnessing occupancy gains on the back of healthy move-in activity in the wake of the pandemic. Notably, in the second quarter of 2023, the SHO portfolio average same-store occupancy expanded 190 basis points (bps) year over year.With senior citizens’ healthcare expenditure expected to rise in the coming years and favorable demand-supply fundamentals in its markets, Welltower’s SHO portfolio remains well-poised to prosper. Per the company's July Business Update, management anticipates year-over-year occupancy growth of 230 bps for the SHO portfolio in 2023.Welltower usually leases its healthcare facilities under "triple net" leases, where the tenant pays all taxes, insurance and maintenance for the properties in addition to rent. Also, its long-term tie-ups with experienced healthcare management companies or operators insulate it from short-term market swings. These factors are likely to aid in generating stable revenues.Restructuring initiatives over the recent years have enabled the company to attract top-class operators, while its dispositions have helped improve the quality of its cash flows.In the second quarter of 2023, WELL entered into definitive agreements to dissolve its existing joint venture with Revera across the United States, the United Kingdom and Canada during the April-June quarter. Through this, it will acquire the remaining interests in 110 properties from Revera. WELL will simultaneously divest interests in 31 properties to Revera.Its capital-recycling efforts to finance near-term investment and development opportunities highlight its prudent capital management practices and bode well for long-term growth. Also, a robust balance sheet position, with available liquidity of $6.7 billion as of Jul 28, 2023, and a well-laddered debt maturity schedule support its growth endeavors.Analysts seem bullish on this Zacks Rank #2 (Buy) company. The Zacks Consensus Estimate for its current-year funds from operations (FFO) per share has been raised marginally over the past month to $3.53.The company’s shares have gained 11.4% in the past three months compared with the industry’s growth of 3%.Story continuesZacks Investment ResearchImage Source: Zacks Investment ResearchNonetheless, Welltower faces competition from national and local healthcare operators, which limits its power to significantly raise its top line and ink deals at attractive rates. Also, tenant concentration in the company’s triple-net portfolio is concerning.High interest rates are likely to increase borrowing costs, affecting the company’s ability to purchase or develop real estate.Other Stocks to ConsiderSome other top-ranked stocks from the REIT sector are SBA Communications SBAC, Americold Realty Trust COLD and Omega Healthcare Investors OHI, each carrying a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.The Zacks Consensus Estimate for SBA Communications’ current-year FFO per share has moved marginally northward over the past week to $12.88.The Zacks Consensus Estimate for Americold Realty Trust’s ongoing year’s FFO per share has been raised 2.5% upward over the past month to $1.24.The Zacks Consensus Estimate for Omega Healthcare’s ongoing year’s FFO per share has been raised marginally upward over the past month to $2.83.Note: Anything related to earnings presented in this write-up represents funds from operations (FFO) — a widely used metric to gauge the performance of REITs.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 reportSBA Communications Corporation (SBAC) : Free Stock Analysis ReportOmega Healthcare Investors, Inc. (OHI) : Free Stock Analysis ReportAmericold Realty Trust Inc. (COLD) : Free Stock Analysis ReportWelltower Inc. (WELL) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

Here's Why You Should Add Welltower (WELL) to Your Portfolio

https://finance.yahoo.com/news/heres-why-add-welltower-well-151900028.html

b8236a7a-4ba3-37bb-bb32-7b411af83936

WELL

Welltower Inc (NYSE:WELL) has recently been in the spotlight with a daily gain of 1.94% and a 3-month gain of 5.15%. Its Earnings Per Share (EPS) stands at 0.23. This article seeks to answer the burning question: is Welltower fairly valued? We delve into the company's valuation analysis to provide a comprehensive understanding of its intrinsic value.Company IntroductionWarning! GuruFocus has detected 10 Warning Signs with WELL. Click here to check it out. WELL 30-Year Financial DataThe intrinsic value of WELLWelltower Inc (NYSE:WELL) owns a diversified healthcare portfolio of over 1,900 properties spread across senior housing, medical office, and skilled nursing/post-acute care sectors. With over 100 properties in both Canada and the United Kingdom, the company is always on the lookout for additional investment opportunities in countries with mature healthcare systems similar to the United States.As of September 06, 2023, Welltower's stock price stands at $82.43 with a market cap of $42.80 billion. Comparatively, its GF Value, an estimation of fair value, is $82.01. This comparison sets the stage for a deeper exploration of the company's value, ingeniously integrating financial assessment with essential company details.Welltower (WELL): A Fairly Valued Asset in the Healthcare Sector?Understanding GF ValueThe 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:Historical multiples (PE Ratio, PS Ratio, PB Ratio and Price-to-Free-Cash-Flow) that the stock has traded at.GuruFocus adjustment factor based on the company's past returns and growth.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.Story continuesFor Welltower (NYSE:WELL), the stock is estimated to be fairly valued, according to GuruFocus Value calculation. This estimation suggests that the long-term return of its stock is likely to be close to the rate of its business growth.Welltower (WELL): A Fairly Valued Asset in the Healthcare Sector?Link: These companies may deliver higher future returns at reduced risk.This article first appeared on GuruFocus.

GuruFocus.com

Welltower (WELL): A Fairly Valued Asset in the Healthcare Sector?

https://finance.yahoo.com/news/welltower-well-fairly-valued-asset-153223423.html

dac3680b-b896-3fc6-8b52-b41515eb802c

WEST

Westrock Coffee CompanyLITTLE ROCK, Ark., July 26, 2023 (GLOBE NEWSWIRE) -- Westrock Coffee Company (NASDAQ: WEST) ("Westrock Coffee" or the “Company"), a leading integrated coffee, tea, flavors, extracts, and ingredients solutions provider to the retail, foodservice and restaurant, convenience store and travel center, non-commercial, CPG, and hospitality industries, today announced that it will report its second quarter 2023 results on Wednesday, August 9, 2023 after market close. The announcement will be followed by a live earnings conference call at 4:30 p.m. EDT.To participate in the live earnings call and question and answer session, please register at https://register.vevent.com/register/BI5723fdac9e6948ecb87d7e05f2a62f7d and dial-in information will be provided directly to you. The live audio webcast will be accessible in the “Events and Presentations” section of the Company’s Investor Relations website at https://investors.westrockcoffee.com. An archived replay of the webcast will be available shortly after the live event has concluded.About Westrock Coffee Company:Westrock Coffee is a leading integrated coffee, tea, flavors, extracts, and ingredients solutions provider in the U.S., providing coffee sourcing, supply chain management, product development, roasting, packaging, and distribution services to the retail, foodservice and restaurant, convenience store and travel center, CPG, non-commercial, and hospitality industries around the world. With offices in 10 countries, the Company sources coffee and tea from 35 origin countries. For more information, please visit https://investors.westrockcoffee.com/.Contacts:Investor RelationsICR for Westrock Coffee: [email protected] ICR for Westrock Coffee: [email protected]

GlobeNewswire

Westrock Coffee Company to Report Second Quarter 2023 Financial Results on August 9, 2023

https://finance.yahoo.com/news/westrock-coffee-company-report-second-200500741.html

746c39a6-862d-33f4-aa07-7dddc663caf0

WEST

Westrock Coffee CompanyLITTLE ROCK, Ark., Aug. 09, 2023 (GLOBE NEWSWIRE) -- Westrock Coffee Company (Nasdaq: WEST) (“Westrock Coffee” or the “Company”) today reported financial results for the second quarter ended June 30, 2023 and announced the closing of the upsized $118.8 million common stock equity raise originally disclosed on June 30, 2023 and July 18, 2023.Scott T. Ford, CEO and Co-founder stated, “We are pleased to announce today our second quarter financial results and the closing of our $118.8 million equity raise, which provides us with the capital necessary to fully fund the expanded opportunities we were seeing for our Conway extract and RTD facility. We currently have customer commitments for 100% of the capacity available in our originally planned for high-speed can and glass bottle lines, and we are well on our way to contracting the expanded capacity we announced in late June.  I could not be more excited about where we sit in both our customer and competitive landscape or of the team that has worked tirelessly to put us in this position.”Second Quarter HighlightsConsolidated net sales were $224.7 million for the second quarter of 2023, an increase of $1.3 million, or 0.6%, compared to the second quarter of 2022.Consolidated gross profit for the second quarter of 2023 was $35.7 million and included $1.0 million of non-cash mark-to-market gains, compared to consolidated gross profit of $38.9 million for the second quarter of 2022, which included $1.4 million of non-cash mark-to-market losses.Net loss for the period was $26.8 million, compared to a net loss of $5.8 million for the second quarter of 2022. The $26.8 million net loss for the second quarter of 2023 included $2.9 million of acquisition, restructuring and integration expense and $11.8 million of non-cash expense from the change in fair value of warrant liabilities. Net loss of $5.8 million for the second quarter of 2022 included $2.3 million of acquisition, restructuring and integration expense.Adjusted EBITDA was $11.3 million for the second quarter of 2023, a decrease of $2.0 million, compared to the second quarter of 2022.Beverage Solutions segment contributed $189.7 million of net sales and $11.7 million of Adjusted EBITDA for the second quarter of 2023, compared to $170.9 million and $12.5 million, respectively, for the second quarter of 2022.SS&T segment, net of intersegment revenues, contributed $35.0 million of net sales and Adjusted EBITDA of ($0.4 million) for the second quarter of 2023, compared to $52.5 million and $0.8 million, respectively, for the second quarter of 2022.Story continuesPIPE InvestmentsOn August 3, 2023, the Company closed on the previously announced sale of 10.0 million shares of common stock, par value $0.01 per share (“Common Shares”), to HF Direct Investments Pool, LLC (an affiliate of HF Capital, LLC), the Herbert Hunt family and the Arkansas Teacher Retirement System, for aggregate gross proceeds of $100.0 million. In addition, on August 7, 2023, the Company sold approximately 1.9 million Common Shares, at a share price of $10.00 per share (the “BBH Investment”), to affiliates of Brown Brothers Harriman & Co. (the “BBH Stockholders”) in connection with the previously announced exercise of the BBH Stockholders’ preemptive rights under the terms of that certain Investor Rights Agreement dated April 4, 2022, which was amended and restated effective on August 3, 2023, in connection with the closing of the investment by HF Direct Investments Pool, LLC. Aggregate gross proceeds to the Company from the BBH Investment were approximately $18.8 million.2023 OutlookThe Company is reaffirming its guidance provided on June 30, 2023 for 2023 consolidated Adjusted EBITDA to grow flat to 10% over 2022.The Company is not readily able to provide a reconciliation of forecasted Adjusted EBITDA to forecasted GAAP net income without unreasonable effort because certain items that impact such figure are uncertain or outside the Company’s control and cannot be reasonably predicted. Such items include the impacts of non-cash gains or losses resulting from mark-to-market adjustments of derivatives and the change in fair value of warrant liabilities, among others.Conference Call DetailsWestrock Coffee will host a conference call and webcast at 4:30 p.m. ET today to discuss this release. To participate in the live earnings call and question and answer session, please register at https://register.vevent.com/register/BI5723fdac9e6948ecb87d7e05f2a62f7d and dial-in information will be provided directly to you. The live audio webcast will be accessible in the “Events and Presentations” section of the Company’s Investor Relations website at https://investors.westrockcoffee.com/. An archived replay of the webcast will be available shortly after the live event has concluded and will be available for a minimum of 14 days.About Westrock CoffeeWestrock Coffee is a leading integrated coffee, tea, flavors, extracts, and ingredients solutions provider in the United States, providing coffee sourcing, supply chain management, product development, roasting, packaging, and distribution services to the retail, food service and restaurant, convenience store and travel center, non-commercial account, CPG, and hospitality industries around the world. With offices in 10 countries, the company sources coffee and tea from 35 origin countries.Forward-Looking StatementsCertain statements in this press release that are not historical facts are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended from time to time. Forward-looking statements generally are accompanied by words such as “believe,” “may,” “will,” “estimate,” “continue,” “anticipate,” “intend,” “expect,” “should,” “would,” “plan,” “predict,” “potential,” “seem,” “seek,” “future,” “outlook,” and similar expressions that predict or indicate future events or trends or that are not statements of historical matters, but the absence of these words does not mean that a statement is not forward-looking. These forward-looking statements include, but are not limited to, our 2023 financial outlook, certain plans, expectations, goals, projections, and statements about the timing and benefits of the build-out, and our ability to sell or commit the capacity prior to commencement of commercial production, of the Company’s Conway, Arkansas extract and ready-to-drink facility, the plans, objectives, expectations, and intentions of Westrock Coffee, and other statements that are not historical facts. These statements are based on information available to Westrock Coffee as of the date hereof and Westrock Coffee is not under any duty to update any of the forward-looking statements after the date of this communication to conform these statements to actual results. These statements are based on various assumptions, whether or not identified in this communication, and on the current expectations of the management of Westrock Coffee as of the date hereof and are not predictions of actual performance. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as and should not be relied on by an investor, or others, as a guarantee, an assurance, a prediction, or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond the control of Westrock Coffee. These forward-looking statements are subject to a number of risks and uncertainties, including, but not limited to, changes in domestic and foreign business, market, financial, political, and legal conditions; risks relating to the uncertainty of the projected financial information with respect to Westrock Coffee; risks related to the rollout of Westrock Coffee’s business and the timing of expected business milestones; the effects of competition on Westrock Coffee’s business; the ability of Westrock Coffee to issue equity or equity-linked securities or obtain debt financing in the future; the risk that Westrock Coffee fails to fully realize the potential benefits of acquisitions or has difficulty successfully integrating acquired companies, including Kohana Coffee, LLC and Bixby Roasting Co.; the availability of equipment and the timely performance by suppliers involved with the build-out of the Conway, Arkansas facility; the loss of significant customers or delays in bringing their products to market; and those factors discussed in Westrock Coffee’s Annual Report on Form 10-K, which was filed with the United States Securities and Exchange Commission (the “SEC”) on March 21, 2023, in Part I, Item 1A “Risk Factors” and other documents Westrock Coffee has filed, or will file, with the SEC. If any of these risks materialize or our assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. There may be additional risks that Westrock Coffee does not presently know, or that Westrock Coffee currently believes are immaterial, that could also cause actual results to differ from those contained in the forward-looking statements. In addition, the forward-looking statements reflect Westrock Coffee’s expectations, plans, or forecasts of future events and views as of the date of this communication. Westrock Coffee anticipates that subsequent events and developments will cause Westrock Coffee’s assessments to change. However, while Westrock Coffee may elect to update these forward-looking statements at some point in the future, Westrock Coffee specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as a representation of Westrock Coffee’s assessments as of any date subsequent to the date of this communication. Accordingly, undue reliance should not be placed upon the forward-looking statements.ContactsMedia:ICR for Westrock: [email protected] Relations:ICR for Westrock: [email protected] Westrock Coffee CompanyCondensed Consolidated Balance Sheets(Unaudited)      (Thousands, except par value)    June 30, 2023    December 31, 2022ASSETS      Cash and cash equivalents $25,245  $16,838 Restricted cash  3,537   9,567 Accounts receivable, net of allowance for credit losses of $2,672 and $3,023, respectively  100,863   101,639 Inventories  154,682   145,836 Derivative assets  18,357   15,053 Prepaid expenses and other current assets  13,542   9,166 Total current assets  316,226   298,099        Property, plant and equipment, net  240,349   185,206 Goodwill  116,353   113,999 Intangible assets, net  127,022   130,886 Operating lease right-of-use assets  15,172   11,090 Other long-term assets  7,186   6,933 Total Assets $822,308  $746,213        LIABILITIES, CONVERTIBLE PREFERRED SHARES AND SHAREHOLDERS’ (DEFICIT) EQUITY      Current maturities of long-term debt $9,293  $11,504 Short-term debt  46,190   42,905 Accounts payable  102,083   116,675 Supply chain finance program  29,026   — Derivative liabilities  7,282   7,592 Accrued expenses and other current liabilities  36,084   37,459 Total current liabilities  229,958   216,135        Long-term debt, net  237,769   162,502 Deferred income taxes  17,938   14,355 Warrant liabilities  61,280   55,521 Other long-term liabilities  14,600   11,035 Total liabilities  561,545   459,548        Commitments and contingencies             Series A Convertible Preferred Shares, $0.01 par value, 24,000 shares authorized, 23,566 shares and 23,588 shares issued and outstanding at June 30, 2023 and December 31, 2022, respectively, $11.50 liquidation value  275,025   274,936        Shareholders’ (Deficit) Equity      Preferred stock, $0.01 par value, 26,000 shares authorized, no shares issued and outstanding  —   — Common stock, $0.01 par value, 300,000 shares authorized, 75,728 shares and 75,020 shares issued and outstanding at June 30, 2023 and December 31, 2022, respectively  760   750 Additional paid-in-capital  348,711   342,664 Accumulated deficit  (359,194)  (328,042)Accumulated other comprehensive loss  (4,539)  (6,103)Total shareholders’ (deficit) equity attributable to Westrock Coffee Company  (14,262)  9,269 Non-controlling interest  —   2,460 Total shareholders’ (deficit) equity  (14,262)  11,729        Total Liabilities, Convertible Preferred Shares and Shareholders’ (Deficit) Equity $822,308  $746,213          Westrock Coffee CompanyCondensed Consolidated Statements of Operations(Unaudited)               Three Months Ended June 30,  Six Months Ended June 30, (Thousands, except per share data)    2023    2022    2023    2022Net sales $224,694  $223,413  $430,136  $409,841 Costs of sales  189,018   184,515   360,162   332,512 Gross profit  35,676   38,898   69,974   77,329              Selling, general and administrative expense  34,170   35,048   68,292   70,109 Acquisition, restructuring and integration expense  2,901   2,304   9,545   4,787 Loss on disposal of property, plant and equipment  —   184   896   289 Total operating expenses  37,071   37,536   78,733   75,185 (Loss) income from operations  (1,395)  1,362   (8,759)  2,144              Other (income) expense            Interest expense  7,385   8,813   13,414   16,861 Change in fair value of warrant liabilities  11,800   —   6,272   — Other, net  (9)  (133)  811   (1,110)Loss before income taxes  (20,571)  (7,318)  (29,256)  (13,607)Income tax expense (benefit)  6,240   (1,499)  1,881   (3,083)Net loss $(26,811) $(5,819) $(31,137) $(10,524)Net (loss) income attributable to non-controlling interest  —   (106)  15   65 Net loss attributable to shareholders  (26,811)  (5,713)  (31,152)  (10,589)Accretion of Series A Convertible Preferred Shares  87   —   (341)  — Accumulating preferred dividends  —   (7,145)  —   (13,882)Net loss attributable to common shareholders $(26,724) $(12,858) $(31,493) $(24,471)             Loss per common share(1):            Basic $(0.35) $(0.37) $(0.42) $(0.70)Diluted $(0.35) $(0.37) $(0.42) $(0.70)             Weighted-average number of shares outstanding(1):            Basic  75,726   34,855   75,543   34,749 Diluted  75,726   34,855   75,543   34,749                  (1) Retroactively adjusted the three and six months ended June 30, 2022 for the de-SPAC merger transaction.Westrock Coffee CompanyCondensed Consolidated Statements of Cash Flows(Unaudited)         Six Months Ended June 30, (Thousands)    2023    2022Cash flows from operating activities:      Net loss $(31,137) $(10,524)Adjustments to reconcile net loss to net cash provided by (used in) operating activities:       Depreciation and amortization  12,055   11,966 Equity-based compensation  3,857   479 Paid-in-kind interest added to debt principal  —   294 Provision for credit losses  653   922 Amortization of deferred financing fees included in interest expense  988   1,046 Loss on disposal of property, plant and equipment  896   289 Mark-to-market adjustments  (2,205)  250 Change in fair value of warrant liabilities  6,272   — Foreign currency transactions  907   91 Deferred income tax (benefit) expense  1,881   (3,083)Other  992   — Change in operating assets and liabilities:          Accounts receivable  649   (11,137)    Inventories  (6,874)  (53,663)    Derivative assets and liabilities  693   (10,743)    Prepaid expense and other assets  (8,529)  (14,257)    Accounts payable  (24,080)  37,278     Accrued liabilities and other  7,314   3,818 Net cash used in operating activities  (35,668)  (46,974)Cash flows from investing activities:      Additions to property, plant and equipment  (55,745)  (15,163)Additions to intangible assets  (95)  (48)Acquisition of business, net of cash acquired  (2,392)  — Proceeds from sale of property, plant and equipment  57   2,248 Net cash used in investing activities  (58,175)  (12,963)Cash flows from financing activities:      Payments on debt  (79,795)  (51,665)Proceeds from debt  156,118   107,423 Proceeds from supply chain financing program  29,026   — Payment of debt issuance costs  (2,582)  — Net repayments from repurchase agreements  (5,236)  — Proceeds from exercise of stock options  63   — Proceeds from exercise of Public Warrants  2,632   — Payment for purchase of non-controlling interest  (2,000)  — Payment for taxes for net share settlement of equity awards  (1,841)  (477)Net cash provided by financing activities  96,385   55,281 Effect of exchange rate changes on cash  (165)  (29)Net increase (decrease) in cash and cash equivalents and restricted cash  2,377   (4,685)Cash and cash equivalents and restricted cash at beginning of period  26,405   22,870 Cash and cash equivalents and restricted cash at end of period $28,782  $18,185        Supplemental non-cash investing and financing activities:      Property, plant and equipment acquired but not yet paid $17,958  $372 Issuance of common shares related to Public Warrant exercise  3,144   — Issuance of common shares related to acquisitions  446   — Issuance of common shares related to conversion of Series A Preferred Shares  254   — Issuance of common shares related to purchase of non-controlling interest  475   — Accretion of convertible preferred shares  341   — Accumulating preferred dividends  —   13,882          Westrock Coffee CompanyReconciliation of Net Loss to Non-GAAP Adjusted EBITDA(Unaudited)      Three Months Ended June 30,  Six Months Ended June 30, (Thousands)    2023    2022 2023    2022Net loss $(26,811) $(5,819) $(31,137) $(10,524)Interest expense  7,385   8,813   13,414   16,861 Income tax expense (benefit)  6,240   (1,499)  1,881   (3,083)Depreciation and amortization  6,181   5,952   12,055   11,966 EBITDA   (7,005)  7,447   (3,787)  15,220 Acquisition, restructuring and integration expense  2,901   2,304   9,545   4,787 Change in fair value of warrant liabilities  11,800   —   6,272   — Management and consulting fees (S&D Coffee, Inc. acquisition)  —   866   556   2,201 Equity-based compensation  2,310   308   3,857   479 Conway extract and ready-to-drink facility start-up costs  1,711   —   3,580   — Mark-to-market adjustments  (969)  1,395   (2,205)  250 Loss on disposal of property, plant and equipment  —   184   896   289 Other  562   789   1,049   1,461 Adjusted EBITDA  $11,310  $13,293  $19,763  $24,687                  Westrock Coffee CompanyReconciliation of Segment Results(Unaudited)   Three Months Ended June 30,  Six Months Ended June 30, (Thousands)    2023    2022    2023    2022Net Sales                Beverage Solutions $189,719 $170,865 $370,928 $319,226Sustainable Sourcing & Traceability1  34,975  52,548  59,208  90,615Total of Reportable Segments $224,694 $223,413 $430,136 $409,841  Three Months Ended June 30,  Six Months Ended June 30, (Thousands)    2023    2022    2023    2022Gross Profit                Beverage Solutions $32,475 $37,180 $62,970 $71,095Sustainable Sourcing & Traceability  3,201  1,718  7,004  6,234Total of Reportable Segments $35,676 $38,898 $69,974 $77,329  Three Months Ended June 30,  Six Months Ended June 30, (Thousands)    2023    2022    2023    2022Adjusted EBITDA                 Beverage Solutions $11,660  $12,471 $20,081  $22,891Sustainable Sourcing & Traceability  (350)  822  (318)  1,796Total of Reportable Segments $11,310  $13,293 $19,763  $24,687___________________________1 - Net of intersegment revenuesNon-GAAP Financial MeasuresWe refer to EBITDA and Adjusted EBITDA in our analysis of our results of operations, which are not required by, or presented in accordance with, accounting principles generally accepted in the United States (“GAAP”). While we believe that net (loss) income, as defined by GAAP, is the most appropriate earnings measure, we also believe that EBITDA and Adjusted EBITDA are important non-GAAP supplemental measures of operating performance as they contribute to a meaningful evaluation of the Company’s future operating performance and comparisons to the Company’s past operating performance. Additionally, we use these non-GAAP financial measures in evaluating the performance of our segments, to make operational and financial decisions and in our budgeting and planning process. The Company believes that providing these non-GAAP financial measures to investors helps investors evaluate the Company’s operating performance, profitability and business trends in a way that is consistent with how management evaluates such performance.We define “EBITDA” as net (loss) income, as defined by GAAP, before interest expense, provision for income taxes and depreciation and amortization. We define “Adjusted EBITDA” as EBITDA before equity-based compensation expense and the impact, which may be recurring in nature, of acquisition, restructuring and integration related costs, including management services and consulting agreements entered into in connection with the acquisition of S&D Coffee, Inc., impairment charges, changes in the fair value of warrant liabilities, non-cash mark-to-market adjustments, certain costs specifically excluded from the calculation of EBITDA under our material debt agreements, such as facility start-up costs, the write off of unamortized deferred financing costs, costs incurred as a result of the early repayment of debt, gains or losses on dispositions, and other similar or infrequent items (although we may not have had such charges in the periods presented). We believe EBITDA and Adjusted EBITDA are important supplemental measures to net (loss) income because they provide additional information to evaluate our operating performance on an unleveraged basis. In addition, Adjusted EBITDA is calculated similar to defined terms in our material debt agreements used to determine compliance with specific financial covenants.Since EBITDA and Adjusted EBITDA are not measures calculated in accordance with GAAP, they should be viewed in addition to, and not be considered as alternatives for, net (loss) income determined in accordance with GAAP. Further, our computations of EBITDA and Adjusted EBITDA may not be comparable to that reported by other companies that define EBITDA and Adjusted EBITDA differently than we do.

GlobeNewswire

Westrock Coffee Company Reports Second Quarter 2023 Results and Announces Closing of $118.8 Million Equity Investment to Support Long-Term Growth

https://finance.yahoo.com/news/westrock-coffee-company-reports-second-200500895.html

8efd36cb-8485-33ab-953e-8e94a447b224

WFC

After overcharging customers for nearly a decade, Wells Fargo is now making restitution. Keep reading to learn more about what happened.Continue reading

Motley Fool

Wells Fargo Pays $40 Million to Customers for Excessive Fees

https://finance.yahoo.com/m/cb50a1fa-5114-316f-b939-6c4848a87b3c/wells-fargo-pays-40-million.html

cb50a1fa-5114-316f-b939-6c4848a87b3c

WFC

In the last year, many Wells Fargo & Company (NYSE:WFC) insiders sold a substantial stake in the company which may have sparked shareholders' attention. When evaluating insider transactions, knowing whether insiders are buying versus if they selling is usually more beneficial, as the latter can be open to many interpretations. However, if numerous insiders are selling, shareholders should investigate more.While we would never suggest that investors should base their decisions solely on what the directors of a company have been doing, we would consider it foolish to ignore insider transactions altogether. See our latest analysis for Wells Fargo The Last 12 Months Of Insider Transactions At Wells FargoOver the last year, we can see that the biggest insider sale was by the insider, Kleber Santos, for US$1.6m worth of shares, at about US$46.27 per share. While insider selling is a negative, to us, it is more negative if the shares are sold at a lower price. The silver lining is that this sell-down took place above the latest price (US$41.00). So it may not shed much light on insider confidence at current levels.In total, Wells Fargo insiders sold more than they bought over the last year. 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-volumeIf you like to buy stocks that insiders are buying, rather than selling, then you might just love this free list of companies. (Hint: insiders have been buying them).Insider OwnershipLooking at the total insider shareholdings in a company can help to inform your view of whether they are well aligned with common shareholders. We usually like to see fairly high levels of insider ownership. Wells Fargo insiders own 0.07% of the company, currently worth about US$109m based on the recent share price. This kind of significant ownership by insiders does generally increase the chance that the company is run in the interest of all shareholders.Story continuesSo What Do The Wells Fargo Insider Transactions Indicate?There haven't been any insider transactions in the last three months -- that doesn't mean much. While we feel good about high insider ownership of Wells Fargo, we can't say the same about the selling of shares. While we like knowing what's going on with the insider's ownership and transactions, we make sure to also consider what risks are facing a stock before making any investment decision. In terms of investment risks, we've identified 1 warning sign with Wells Fargo and understanding it should be part of your investment process.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.

Insiders At Wells Fargo Sold US$1.6m In Stock, Alluding To Potential Weakness

https://finance.yahoo.com/news/insiders-wells-fargo-sold-us-120047720.html

f7a0fe84-4fd5-3060-b514-1adc91538e1d

WFCF

Where Food Comes FromSecond Quarter Highlights – 2023 vs. 2022Revenue increased 15% to $6.1 million from $5.3 millionNet income increased 140% to $532,000 from $222,000Diluted EPS of $0.09 vs. $0.04Adjusted EBITDA increased 61% to $917,000 from $570,000Company buys back $836,000 of its stock in Q2, or 61,000 shares at average price of $13.70 per shareSix-Month Highlights – 2023 vs. 2022Revenue decreased 1% to $11.4 million from $11.5 million based on anomalous Q1 eventsNet income of $653,000 vs. $719,000Diluted EPS of $0.11 vs. $0.12Adjusted EBITDA of $1.3 million vs. $1.5 millionCash generated from operations declined to $1.3 million from $2.3 millionCash & cash equivalents at $3.4 million vs. $4.4 million at 2022 year-end, reflecting impact of stock buybacksCompany buys back more than $2.0 million of its stock through first six months of 2023CASTLE ROCK, Colo., Aug. 10, 2023 (GLOBE NEWSWIRE) -- Where Food Comes From, Inc. (WFCF) (Nasdaq: WFCF), the most trusted resource for independent, third-party verification of food production practices in North America, today announced financial results for its second quarter and six-month period ended June 30, 2023.“We are pleased to announce a solid second quarter highlighted by 15% revenue growth, a 140% increase in net income and 61% growth in adjusted EBITDA,” said John Saunders, chairman and CEO. “This strong performance underscores the resiliency of our company following a challenging first quarter in which we encountered several anomalous events that impacted both revenue and profitability. While we continue to deal with the effects of inflationary pressures and cyclical cattle trends, we are confident in our ability to drive long-term growth and profitability based on the broad scope of our product and service offerings combined and high customer retention rates. Accordingly, we continued our aggressive share repurchase program in the second quarter and, over the past 10 quarters, have returned a total of $7.5 million in value to stockholders through share buybacks and one special dividend.Story continues“We also made important additions to our industry-leading solutions portfolio in the first half of 2023,” Saunders added. “In the second quarter we were named exclusive third-party verifier for the Bee Friendly Farming® Certification, a fast-growing program that supports farmers and ranchers implement regenerative practices to protect and promote pollinators. That followed our first quarter announcement that WFCF customer Certified Piedmontese Beef became the first brand to be certified to PaleoFLEX™, a Paleo Diet standard that is exclusively administered by Where Food Comes From. We now certify to 56 different standards – by far the most comprehensive solutions set in the industry – and have the unique ability to bundle multiple certifications to drive incremental revenue while reducing overall costs for our customers.”Second Quarter Results – 2023 vs. 2022Revenue in the second quarter ended June 30, 2023, increased 15% year over year to $6.1 million from $5.3 million.Revenue mix included:Verification and certification services, up 21% to $4.8 million from $4.0 million.Product revenue, up 7% to $0.94 million from $0.88 million.Consulting revenue, down 16% to $0.4 million from $0.5 million.Gross profit in the second quarter increased 18% year over year to $2.5 million from $2.1 million.Selling, general and administrative expense was flat year over year at $1.8 million.Operating income increased 115% to $0.7 million from $0.3 million in the same quarter last year.Net income increased 140% year over year to $532,000, or $0.09 per diluted share, from $222,000, or $0.04 per diluted share.Adjusted EBITDA in the second quarter was up 61% to $917,000 from $570,000.The Company bought back approximately $836,000 of its common stock in the second quarter, or 61,000 shares at an average price of $13.70 per share.Six Month Results – 2023 vs. 2022Total revenue in the first half of 2023 decreased 1% to $11.4 million from $11.5 million in the same period last year.Revenue mix included:Verification and certification services, up 11% to $8.6 million from $7.7 million.Product revenue was flat at $1.9 million.Consulting revenue, down 52% year over year to $0.9 million from $1.9 million, due primarily to execution of a large, non-recurring project with a Japanese government entity in the first quarter of 2022.Gross profit in the first half of 2023 was up slightly to $4.6 million from $4.5 million.Selling, general and administrative expense increased 6% year over year to $3.8 million from $3.6 million.Operating income declined 12% year over year to $0.8 million from $0.9 million.Net income in the first half was $653,000, or $0.11 per diluted share, compared to net income of $719,000, or $0.12 per diluted share, in the same period last year.Adjusted EBITDA through six months was $1.3 million versus $1.5 million a year ago.The cash and cash equivalents balance at June 30, 2023, declined to $3.4 million from $4.4 million at 2022 year-end due primarily to the Company’s aggressive share repurchase program. Through the first six months of 2023, the Company bought back more than $2.0 million of its shares.The Company will conduct a conference call today at 10:00 a.m. Mountain Time.Call-in numbers for the conference call:Domestic Toll Free: 1-877-407-8289International: 1-201-689-8341Conference Code: 13740472Phone replay:A telephone replay of the conference call will be available through September 10, 2023, as follows:Domestic Toll Free: 1-877-660-6853International: 1-201-612-7415Conference Code: 13736422About Where Food Comes From, Inc.Where Food Comes From, Inc. is America’s trusted resource for third party verification of food production practices. Through proprietary technology and patented business processes, the Company estimates that it supports more than 17,500 farmers, ranchers, vineyards, wineries, processors, retailers, distributors, trade associations, consumer brands and restaurants with a wide variety of value-added services. Through its IMI Global, Validus Verification Services, SureHarvest, WFCF Organic, and Postelsia units, Where Food Comes From solutions are used to verify food claims, optimize production practices and enable food supply chains with analytics and data driven insights. In addition, the Company’s Where Food Comes From® retail and restaurant labeling program uses web-based customer education tools to connect consumers to the sources of the food they purchase, increasing meaningful consumer engagement for our clients.*Note on non-GAAP Financial Measures This press release and the accompanying tables include a discussion of EBITDA and Adjusted EBITDA, which are non-GAAP financial measures provided as a complement to the results provided in accordance with generally accepted accounting principles ("GAAP"). The term "EBITDA" refers to a financial measure that we define as earnings (net income or loss) plus or minus net interest plus taxes, depreciation and amortization. Adjusted EBITDA excludes from EBITDA stock-based compensation and, when appropriate, other items that management does not utilize in assessing WFCF’s operating performance (as further described in the attached financial schedules). None of these non-GAAP financial measures are recognized terms under GAAP and do not purport to be an alternative to net income as an indicator of operating performance or any other GAAP measure. We have reconciled Adjusted EBITDA to GAAP net income in the Consolidated Statements of Income table at the end of this release. We intend to continue to provide these non-GAAP financial measures as part of our future earnings discussions and, therefore, the inclusion of these non-GAAP financial measures will provide consistency in our financial reporting.CAUTIONARY STATEMENTThis news release contains "forward-looking statements" within the meaning of the U.S. Private Securities Litigation Reform Act of 1995, based on current expectations, estimates and projections that are subject to risk. Forward-looking statements are inherently uncertain, and actual events could differ materially from the Company’s predictions. Important factors that could cause actual events to vary from predictions include those discussed in our SEC filings. Specifically, statements in this news release about industry leadership, diversity of services mix, potential for consumer trends to benefit the Company, ability to continue returning value and delivering positive results for stockholders, and demand for, and impact and efficacy of, the Company’s products and services on the marketplace are forward-looking statements that are subject to a variety of factors, including availability of capital, personnel and other resources; competition; governmental regulation of the agricultural industry; the market for beef and other commodities; and other factors. Financial results for 2023 and the Company’s pace of stock buybacks are not necessarily indicative of future results. Readers should not place undue reliance on these forward-looking statements. The Company assumes no obligation to update its forward-looking statements to reflect new information or developments. For a more extensive discussion of the Company’s business, please refer to the Company’s SEC filings at www.sec.gov.Company Contacts:John SaundersChief Executive Officer303-895-3002Jay PfeifferDirector, Investor [email protected]        Where Food Comes From, Inc.       Statements of Income (Unaudited)                    Three months ended June 30, Six months ended June 30,(Amounts in thousands, except per share amounts) 2023   2022   2023   2022 Revenues:        Verification and certification service revenue$4,779  $3,964  $8,585  $7,748  Product sales 938   878   1,909   1,885  Consulting revenue 409   489   899   1,854   Total revenues 6,126   5,331   11,393   11,487 Costs of revenues:        Costs of verification and certification services 2,736   2,325   4,932   4,361  Costs of products 555   522   1,123   1,059  Costs of consulting 329   354   689   1,540   Total costs of revenues 3,620   3,201   6,744   6,960  Gross profit 2,506   2,130   4,649   4,527 Selling, general and administrative expenses 1,833   1,817   3,821   3,591 Income from operations 673   313   828   936 Other income/(expense):        Dividend income from Progressive Beef 50   50   100   100  Gain on disposal of assets 5   -   5   -  Loss on foreign currency exchange (2)  (23)  (4)  (35) Other income, net 11   1   20   1  Interest expense (1)  (1)  (2)  (2)Income before income taxes 736   340   947   1,000 Income tax expense 204   118   294   281  Net income$532  $222  $653  $719           Per share - net income:        Basic$0.09  $0.04  $0.12  $0.12  Diluted$0.09  $0.04  $0.11  $0.12           Weighted average number of common shares outstanding:        Basic 5,670   6,013   5,693   6,053  Diluted 5,735   6,096   5,760   6,136           Where Food Comes From, Inc.Calculation of Adjusted EBITDA*(Unaudited)  Three months ended June 30, Six months ended June 30,(Amounts in thousands) 2023   2022   2023   2022          Net income$532  $222  $653  $719 Adjustments to EBITDA:        Interest expense 1   1   2   2  Income tax expense 204   118   294   281  Depreciation and amortization 163   197   335   392 EBITDA* 900   538   1,284   1,394 Adjustments:        Stock-based compensation 17   32   32   83  Cost of acquisitions -   -   -   - ADJUSTED EBITDA*$917  $570  $1,316  $1,477                   *Use of Non-GAAP Financial Measures: Non-GAAP results are presented only as a supplement to the financial statements and for use within management's discussion and analysis based on U.S. generally accepted accounting principles (GAAP). The non-GAAP financial information is provided to enhance the reader's understanding of the Company's financial performance, but non-GAAP measures should not be considered in isolation or as a substitute for financial measures calculated in accordance with GAAP. Reconciliations of the most directly comparable GAAP measures to non-GAAP measures are provided herein. All of the items included in the reconciliation from net income to EBITDA and from EBITDA to Adjusted EBITDA are either (i) non-cash items (e.g., depreciation, amortization of purchased intangibles, stock-based compensation, etc.) or (ii) items that management does not consider to be useful in assessing the Company's ongoing operating performance (e.g., M&A costs, income taxes, gain on sale of investments, loss on disposal of assets, etc.). In the case of the non-cash items, management believes that investors can better assess the Company's operating performance if the measures are presented without such items because, unlike cash expenses, these adjustments do not affect the Company's ability to generate free cash flow or invest in its business. We use, and we believe investors benefit from the presentation of, EBITDA and Adjusted EBITDA in evaluating our operating performance because it provides us and our investors with an additional tool to compare our operating performance on a consistent basis by removing the impact of certain items that management believes do not directly reflect our core operations. We believe that EBITDA is useful to investors and other external users of our financial statements in evaluating our operating performance because EBITDA is widely used by investors to measure a company's operating performance without regard to items such as interest expense, taxes, and depreciation and amortization, which can vary substantially from company to company depending upon accounting methods and book value of assets, capital structure and the method by which assets were acquired. Because not all companies use identical calculations, the Company's presentation of non-GAAP financial measures may not be comparable to other similarly titled measures of other companies. However, these measures can still be useful in evaluating the Company's performance against its peer companies because management believes the measures provide users with valuable insight into key components of GAAP financial disclosures. Where Food Comes From, Inc.Balance Sheets          June 30, December 31,(Amounts in thousands, except per share amounts) 2023   2022 Assets(Unaudited) (Audited)Current assets:    Cash and cash equivalents$3,410  $4,368  Accounts receivable, net of allowance 2,205   2,172  Inventory 1,196   888  Prepaid expenses and other current assets 713   463   Total current assets 7,524   7,891 Property and equipment, net 860   998 Right-of-use assets, net 2,460   2,607 Equity investments 1,191   991 Intangible and other assets, net 2,179   2,340 Goodwill, net 2,946   2,946 Deferred tax assets, net 514   523 Total assets$17,674  $18,296       Liabilities and Equity   Current liabilities:    Accounts payable$713  $640  Accrued expenses and other current liabilities 1,001   769  Deferred revenue 1,841   1,278  Current portion of finance lease obligations 13   9  Current portion of operating lease obligations 323   341   Total current liabilities 3,891   3,037 Finance lease obligations, net of current portion 48   37 Operating lease obligation, net of current portion 2,593   2,745 Total liabilities 6,532   5,819       Commitments and contingencies         Equity:    Preferred stock, $0.001 par value; 5,000 shares authorized;     none issued or outstanding -   -  Common stock, $0.001 par value; 95,000 shares authorized;     6,508 (2023) and 6,501 (2022) shares issued, and     5,631 (2023) and 5,775 (2022) shares outstanding 6   6  Additional paid-in-capital 12,223   12,145  Treasury stock of 877 (2023) and 727 (2022) shares (9,329)  (7,263) Retained earnings 8,242   7,589 Total equity 11,142   12,477 Total liabilities and stockholders' equity$17,674  $18,296       

GlobeNewswire

Where Food Comes From, Inc. Reports 2023 Second Quarter Financial Results

https://finance.yahoo.com/news/where-food-comes-inc-reports-120000331.html

0cf9dc57-9241-3da3-9189-b9454438c7a7

WFCF

Where Food Comes From, Inc. (NASDAQ:WFCF) Q2 2023 Earnings Call Transcript August 13, 2023Operator: Greetings and welcome to Where Food Comes From Second Quarter Earnings Conference Call. [Operator Instructions] As a reminder, this conference is being recorded. I would now like to turn the conference over to your host, Mr. Jay Pfeiffer. Thank you. You may begin.Jay Pfeiffer: Good morning, and welcome to Where Food Comes From 2023 second quarter earnings call. Joining me on the call today are CEO, John Saunders; President, Leann Saunders; and Chief Financial Officer, Dannette Henning. During this call, we’ll make forward-looking statements based on current expectations, estimates and projections that are subject to risk. Statements about current and future financial performance, growth strategy, customers, business opportunities, market acceptance of our products and services and potential acquisitions are forward-looking statements. Listeners should not place undue reliance on these statements as there are many factors that could cause actual results to differ materially from our forward-looking statements.We encourage you to review our publicly filed documents as well as our news releases and website for more information. Today, we’ll also discuss adjusted EBITDA, a non-GAAP financial measure provided as a complement to GAAP results. Please refer to today’s earnings release for important disclosures regarding non-GAAP measures. I’ll now turn the call over to John Saunders.John Saunders: Good morning, and thanks for joining the call today. This morning, we announced our second quarter financial results for the period ended June 30, 2023. We were very pleased with the results, following as they did a challenging first quarter in which we faced a confluence of headwinds that negatively impacted both our top and bottom lines. The strong results we delivered in Q2 underscore the resiliency of our unique business model. We have, by far, the industry’s most expansive solutions portfolio and are able to provide a level of value that fosters customer loyalty and high customer retention rates. Going forward, we may experience a continuation of certain headwinds over the next several quarters, particularly in the area of inflationary pressures and cyclical cattle trends.Story continuesBut again, we believe our diversification and dominant position in the beef industry, combined with the impact of new solutions coming online, will keep us on a path of the long-term sustainable growth and profitability. Now to our Q2 results. Revenue in the second quarter increased 15% to $6.1 million from $5.3 million in the same quarter last year. That growth included a 21% increase in core verification and certification revenue and a 7% increase in product sales, partially offset by a 16% decline in consulting revenue. Higher revenue and a stable expense base led to a 140% increase in net income to $532,000 or $0.09 per diluted share from $222,000 or $0.04 per diluted share in the second quarter last year. Adjusted EBITDA in the quarter totaled $917,000, up 61% from $570,000 in the year ago second quarter.The strong Q2 performance helped us make up some ground on our year-end – our year-to-date numbers. 6 months revenue pulled nearly flat at $11.4 million versus $11.5 million last year. You’ll recall that the year ago total included a non-recurring $850,000 consulting fee booked in the first quarter of 2022. Absent that, on an apples-to-apples basis, 6-month revenue this year would have been well ahead of prior year levels. Again, verification and certification revenue led the way with 11% growth year-over-year. Net income at the midyear point was $653,000 or $0.11 per diluted share versus $719,000 or $0.12 per diluted share for the same period last year. Adjusted EBITDA was $1.3 million versus $1.5 million. We generated $1.3 million in cash from operations year-to-date and closed the quarter with $3.4 million in cash and cash equivalents, which was down from $4.4 million at year-end due to the continuation of our stock repurchase program.organic, plant, foodVlad Teodor/Shutterstock.comSpeaking of which, during the second quarter, we bought back $836,000 of stock, raising our year-to-date total repurchases to more than $2 million. Over the past 10 quarters, we have returned approximately $7.5 million in value to stockholders through buybacks and a special dividend. The Board intends to continue considering buybacks and other value-creating measures for the foreseeable future. Turning to some business highlights. You’ve often heard me speak about the diversity of our business model and the resulting benefits that accrue to us as a company and to our customers. The breadth and depth of our solution portfolio is what sets us apart and what is responsible for the wide moat we have built around our business. We have been very busy this year, expanding on what was already far and away the industry’s largest solution set.In the first quarter, one of our long-term customers, Certified Piedmontese Beef, became the first brand to be certified to the PaleoFLEX Diet, which is a relatively new standard of the Paleo Diet that is exclusively administered by Where Food Comes From. In the second quarter, we were named exclusive third-party verify for the Bee Friendly Farming Certification, a program that helps farmers and ranchers protect critically – critical pollinators through implementation of regenerative policies within their operations. With these two additions, Where Food Comes From and its divisions now certify customers to 56 different standards. This diversity affords us a distinct competitive advantage, and it positions us as a true one-stop shop, able to offer customers convenience and price advantages through the bundling of multiple verification services.On a related note, in the second quarter, we continued to advance our aquaculture initiative through an investment in the Seafood traceability company, BlueTrace. A privately held tech company that helps players in the North American shellfish industry comply with government regulations, manage their inventories and optimize profitability. We are now collaborating with BlueTrace to strengthen our respective aquaculture efforts. BlueTrace is currently focused on the North American seafood industry, but our aquaculture initiative is very much geared towards global opportunities. The cornerstone of this effort is our FishCARE sustainability standard, which helps seafood producers adhere to higher standards to care for seafood products, employees and the environment.We are making steady inroads with this project, particularly as it pertains to shrimp in Asian markets where the majority of shrimp consumed in North America is farmed but where less than 5% of producers are compliant with any broadly recognized certification. We’re still in the early stages of this effort, but we believe it holds excellent potential to grow into a meaningful revenue stream over time. So in conclusion, with another good quarter behind us, we continue to execute our business plan and look forward to talking to you following our third quarter. Thank you again for joining us on the call today. Operator, you may open the call for questions.See also EV Penny Stocks List: From $10 to Under $1 and 10 Richest Arab Countries in 2023.To continue reading the Q&A session, please click here.

Insider Monkey

Where Food Comes From, Inc. (NASDAQ:WFCF) Q2 2023 Earnings Call Transcript

https://finance.yahoo.com/news/where-food-comes-inc-nasdaq-105953943.html

f8034a28-7710-34ab-a6fa-ae932b8ff5eb

WHG

Westwood Holdings Group, Inc. (NYSE:WHG) is about to trade ex-dividend in the next 4 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. Meaning, you will need to purchase Westwood Holdings Group's shares before the 31st of August to receive the dividend, which will be paid on the 2nd of October.The company's next dividend payment will be US$0.15 per share, and in the last 12 months, the company paid a total of US$0.60 per share. Based on the last year's worth of payments, Westwood Holdings Group has a trailing yield of 6.0% on the current stock price of $10.05. We love seeing companies pay a dividend, but it's also important to be sure that laying the golden eggs isn't going to kill our golden goose! We need to see whether the dividend is covered by earnings and if it's growing. Check out our latest analysis for Westwood Holdings Group 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. Westwood Holdings Group paid a dividend last year despite being unprofitable. This might be a one-off event, but it's not a sustainable state of affairs in the long run.Click here to see how much of its profit Westwood Holdings Group paid out over the last 12 months.historic-dividendHave Earnings And Dividends Been Growing?Companies with falling earnings are riskier for dividend shareholders. If earnings fall far enough, the company could be forced to cut its dividend. Westwood Holdings Group was unprofitable last year and, unfortunately, the general trend suggests its earnings have been in decline over the last five years, making us wonder if the dividend is sustainable at all.Story continuesAnother key way to measure a company's dividend prospects is by measuring its historical rate of dividend growth. Westwood Holdings Group has seen its dividend decline 9.3% per annum on average over the past 10 years, which is not great to see. While it's not great that earnings and dividends per share have fallen in recent years, we're encouraged by the fact that management has trimmed the dividend rather than risk over-committing the company in a risky attempt to maintain yields to shareholders.Get our latest analysis on Westwood Holdings Group's balance sheet health here.The Bottom LineIs Westwood Holdings Group an attractive dividend stock, or better left on the shelf? First, it's not great to see the company paying a dividend despite being loss-making over the last year. Worse, the general trend in its earnings looks negative in recent years. All things considered, we're not optimistic about its dividend prospects, and would be inclined to leave it on the shelf for now.With that being said, if you're still considering Westwood Holdings Group as an investment, you'll find it beneficial to know what risks this stock is facing. To that end, you should learn about the 3 warning signs we've spotted with Westwood Holdings Group (including 1 which doesn't sit too well with us).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.

Don't Buy Westwood Holdings Group, Inc. (NYSE:WHG) For Its Next Dividend Without Doing These Checks

https://finance.yahoo.com/news/dont-buy-westwood-holdings-group-120604165.html

dfa5687c-c5d5-3058-b948-d0be5d09e278

WHG

Westwood Holdings Group, Inc.'s (NYSE:WHG) investors are due to receive a payment of $0.15 per share on 2nd of October. This means the annual payment is 6.0% of the current stock price, which is above the average for the industry. See our latest analysis for Westwood Holdings Group Westwood Holdings Group Might Find It Hard To Continue The DividendWhile it is great to have a strong dividend yield, we should also consider whether the payment is sustainable. Even though Westwood Holdings Group isn't generating a profit, it is generating healthy free cash flows that easily cover the dividend. This gives us some comfort about the level of the dividend payments.Looking forward, earnings per share could fall by 49.9% over the next year if the trend of the last few years can't be broken. While this means that the company will be unprofitable, we generally believe cash flows are more important, and the current cash payout ratio is quite healthy, which gives us comfort.historic-dividendDividend VolatilityThe company's dividend history has been marked by instability, with at least one cut in the last 10 years. The dividend has gone from an annual total of $1.60 in 2013 to the most recent total annual payment of $0.60. The dividend has shrunk at around 9.3% a year during that period. A company that decreases its dividend over time generally isn't what we are looking for.Dividend Growth Potential Is ShakyDividends have been going in the wrong direction, so we definitely want to see a different trend in the earnings per share. Westwood Holdings Group's EPS has fallen by approximately 50% per year during the past five years. A sharp decline in earnings per share is not great from from a dividend perspective. Even conservative payout ratios can come under pressure if earnings fall far enough.Westwood Holdings Group's Dividend Doesn't Look SustainableOverall, it's nice to see a consistent dividend payment, but we think that longer term, the current level of payment might be unsustainable. The payments haven't been particularly stable and we don't see huge growth potential, but with the dividend well covered by cash flows it could prove to be reliable over the short term. We would be a touch cautious of relying on this stock primarily for the dividend income.Investors generally tend to favour companies with a consistent, stable dividend policy as opposed to those operating an irregular one. Meanwhile, despite the importance of dividend payments, they are not the only factors our readers should know when assessing a company. To that end, Westwood Holdings Group has 3 warning signs (and 1 which shouldn't be ignored) we think you should know about. Looking for more high-yielding dividend ideas? Try our collection of strong dividend payers.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.

Westwood Holdings Group (NYSE:WHG) Has Announced A Dividend Of $0.15

https://finance.yahoo.com/news/westwood-holdings-group-nyse-whg-102117311.html

5335da42-a560-320f-9a72-d3cca340940b

WHR

NORTHAMPTON, MA / ACCESSWIRE / August 31, 2023 / Whirlpool CorporationHeld on August 6 and 7th, the Whirlpool Community Charity Golf Event raised $3 million for Berrien County youth. The event included rounds of golf on six courses in and around Berrien County with 864 participants. In addition to golf, attendees were able to participate in a Fireside Chat with Hall of Famers Hale Irwin (PGA) and Jerome Bettis (NFL), a silent auction and live auction.In the twenty years of the event, more than $30 million has been raised for Boys & Girls Clubs of Greater Southwest Michigan, First Tee of Benton Harbor, and the local public school foundations of Benton Harbor, Lakeshore and St. Joseph, helping nearly 10,000 youth each year. These organizations shared the $3 million raised in the 2023 event.View original content here.View additional multimedia and more ESG storytelling from Whirlpool Corporation on 3blmedia.com.Contact Info:Spokesperson: Whirlpool CorporationWebsite: https://www.3blmedia.com/profiles/whirlpool-corporationEmail: [email protected]: Whirlpool Corporation"We are grateful to the many volunteers, participants and generous sponsors who helped us raise these dollars to support youth in our community," said Pam Klyn, executive vice president of corporate relations and sustainability for Whirlpool Corporation. "The programs enhanced with this funding make an incredible impact on the young people in Southwest Michigan."View source version on accesswire.com: https://www.accesswire.com/778956/in-20th-year-whirlpool-community-charity-golf-event-raised-3-million-for-area-youth

ACCESSWIRE

In 20th Year, Whirlpool Community Charity Golf Event Raised $3 Million for Area Youth

https://finance.yahoo.com/news/20th-whirlpool-community-charity-golf-123000670.html

3e42b019-c06d-382f-8df9-f47419f221c1

WHR

BENTON HARBOR, Mich., Sept. 6, 2023 /PRNewswire/ -- Whirlpool Corporation (NYSE: WHR) announced today that it has been recognized as one of the World's Most Trustworthy Companies in 2023 by Newsweek. To create the list, Newsweek partnered with Statista, a leading provider of market and consumer data, to evaluate companies' business practices and relationships with key stakeholders. Whirlpool Corp.'s inclusion in the list highlights the company's commitment to do the right thing for employees, consumers, investors, and the communities around the world where the company does business.Whirlpool Corporation (PRNewsFoto/Whirlpool Corporation)"At Whirlpool Corporation, one of our enduring values is integrity -- this means that across our global business, there is no right way to do a wrong thing," said Ava Harter, global chief legal officer for Whirlpool Corporation. "We are honored to receive this recognition. It reflects the dedication of 61,000 global employees who believe in our mission of improving life at home for consumers. We cannot fulfill this vision if we don't operate with integrity and trust."Whirlpool Corp.'s Global Ethics and Compliance Program is focused on enhancing and sustaining the company's culture of winning with integrity and empowering employees with tools and resources to act with integrity within a risk-based framework. As part of these efforts, Whirlpool Corp. launched its Integrity Manual in 2019, which outlines the company's values and helps translate these values into everyday actions.In addition to its Global Ethics and Compliance program, Whirlpool Corp. continues to build trust with its consumers by manufacturing high-quality products, industry-leading customer service, and purposeful innovation.The World's Most Trustworthy Companies 2023 were identified in an independent survey based on a vast sample of more than 70,000 participants from 21 countries. A total of 269,000 evaluations were analyzed. The three main public pillars of trust were considered: Customer Trust, Investor Trust, and Employee Trust.Story continuesClick here to see the full list of World's Most Trustworthy Companies.About Whirlpool Corporation Whirlpool Corporation (NYSE: WHR) is committed to being the best global kitchen and laundry company, in constant pursuit of improving life at home. In an increasingly digital world, the company is driving purposeful innovation to meet the evolving needs of consumers through its iconic brand portfolio, including Whirlpool, KitchenAid, Maytag, Consul, Brastemp, Amana, Bauknecht, JennAir, Indesit, Yummly and InSinkErator. In 2022, the company reported approximately $20 billion in annual sales, 61,000 employees and 56 manufacturing and technology research centers. Additional information about the company can be found at WhirlpoolCorp.com.CisionView original content to download multimedia:https://www.prnewswire.com/news-releases/whirlpool-corporation-named-one-of-the-worlds-most-trustworthy-companies-for-2023-by-newsweek-301919567.htmlSOURCE Whirlpool Corporation

PR Newswire

Whirlpool Corporation Named One of the World's Most Trustworthy Companies for 2023 by Newsweek

https://finance.yahoo.com/news/whirlpool-corporation-named-one-worlds-163000820.html

2ecf4f6b-bfaf-35f9-8964-625a12156d56

WINT

Windtree TherapeuticsPatent provides protection through late 2039 for drug candidates with potential to improve cardiac function in heart failure patientsWARRINGTON, Pa., Aug. 23, 2023 (GLOBE NEWSWIRE) -- Windtree Therapeutics, Inc. (“Windtree” or the “Company”) (NasdaqCM: WINT), a biotechnology company focused on advancing late-stage interventions for cardiovascular disorders, today reported that the United States Patent and Trademark Office (USPTO) has issued US Patent No. 11,730,746 covering the Company’s dual mechanism SERCA2a Activators. The new composition of matter patent, titled: “17BETA-HETEROCYCLYL-DIGITALIS LIKE COMPOUNDS FOR THE TREATMENT OF HEART FAILURE,” provides patent protection through late 2039.  The newly issued patent follows the Company’s announcement in April 2023 that the European Patent Office granted Patent No. 3599243, which also provides patent coverage for the dual mechanism SERCA2a Activator class of drug candidates. Windtree has preclinical drug candidates with dual mechanisms of action (inhibition of the Na+/K+ pump and activation of SERCA2a) as well as pure SERCA2a activators (devoid of action on the Na+/K+ pump).SERCA2a has been known to play a key role in heart failure and has thus been a much sought after but elusive target for several potential drug therapies. Istaroxime and these follow-on SERCA2a Activators look to deliver on the potential of SERCA2a activation in heart failure. The dual mechanism compounds activate SERCA2a and inhibit the Na+/K+ pump in a manner similar to istaroxime, which is administered intravenously (IV) and is the Company’s lead program for cardiogenic shock and acute decompensated heart failure. These new dual mechanism SERCA2a Activator product candidates are intended to be both oral and IV therapies, which could result in a hospital inpatient therapy for acute decompensated heart failure as well as an outpatient oral therapy for hospital discharge and chronic heart failure treatment.Story continues“We are making steady progress with our IP portfolio strategy for the dual mechanism SERCA2a Activator family of drug candidates,” said Craig Fraser, Chief Executive Officer of Windtree Therapeutics. “We plan to position these new compounds as a ‘fast follow-on’ to istaroxime while offering the potential of oral bioavailability for use as a treatment for chronic heart failure. Much may be accomplished for heart failure patient treatment with this innovation.”About Dual Mechanism SERCA2a ActivatorsDual Mechanism SERCA2a Activators activate SERCA2a and inhibit the Na+/K+ pump. Windtree Therapeutic’s research program is evaluating these preclinical product candidates, including oral and intravenous SERCA2a Activator heart failure compounds.About IstaroximeIstaroxime is a first-in-class dual mechanism therapy designed to improve both systolic and diastolic cardiac function. Istaroxime is a positive inotropic agent that increases myocardial contractility through inhibition of Na+/K+- ATPase with a complimentary mechanism that facilitates myocardial relaxation through activation of the SERCA2a calcium pump on the sarcoplasmic reticulum enhancing calcium reuptake from the cytoplasm. Data from multiple Phase 2 studies in patients with early cardiogenic shock or acute decompensated heart failure demonstrate that istaroxime infused intravenously significantly improves cardiac function and blood pressure without increasing heart rate or the incidence of cardiac rhythm disturbances.About Windtree Therapeutics, Inc.Windtree Therapeutics, Inc. is advancing late-stage interventions for cardiovascular disorders to treat patients in moments of crisis. Using new scientific and clinical approaches, Windtree is developing a multi-asset franchise anchored around compounds with an ability to activate SERCA2a, with lead candidate, istaroxime, being developed as a first-in-class treatment for cardiogenic shock and acute decompensated heart failure. Windtree’s heart failure platform includes follow-on pre-clinical SERCA2a activator assets as well. In pulmonary care, Windtree has focused on facilitating the transfer of the KL4 surfactant platform, to its licensee, Lee’s Pharmaceutical (HK) Ltd. and Zhaoke Pharmaceutical (Hefei) Co. Ltd. Included in Windtree’s portfolio is rostafuroxin, a novel precision drug product targeting hypertensive patients with certain genetic profiles.Forward Looking StatementsThis press release contains forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995. The Company may, in some cases, use terms such as "predicts," "believes," "potential," "proposed," "continue," "estimates," "anticipates," "expects," "plans," "intends," "may," "could," "might," "will," "should" or other words that convey uncertainty of future events or outcomes to identify these forward-looking statements. Such statements are based on information available to the Company as of the date of this press release and are subject to numerous important factors, risks and uncertainties that may cause actual events or results to differ materially from the Company’s current expectations. Examples of such risks and uncertainties include: risks and uncertainties associated with the economic and social consequences of the COVID-19 pandemic, including any adverse impact on the Company’s clinical trials, clinical trial timelines or disruption in supply chain; the success and advancement of the clinical development programs for istaroxime and the Company’s other product candidates; the Company’s ability to secure significant additional capital as and when needed; the Company’s ability to access the debt or equity markets; the Company’s ability to manage costs and execute on its operational and budget plans; the results, cost and timing of the Company’s clinical development programs, including any delays to such clinical trials relating to enrollment or site initiation; risks related to technology transfers to contract manufacturers and manufacturing development activities; delays encountered by the Company, contract manufacturers or suppliers in manufacturing drug products, drug substances, and other materials on a timely basis and in sufficient amounts; risks relating to rigorous regulatory requirements, including that: (i) the U.S. Food and Drug Administration or other regulatory authorities may not agree with the Company on matters raised during regulatory reviews, may require significant additional activities, or may not accept or may withhold or delay consideration of applications, or may not approve or may limit approval of the Company’s product candidates, and (ii) changes in the national or international political and regulatory environment may make it more difficult to gain regulatory approvals and risks related to the Company’s efforts to maintain and protect the patents and licenses related to its product candidates; risks that the Company may never realize the value of its intangible assets and have to incur future impairment charges; risks related to the size and growth potential of the markets for the Company’s product candidates, and the Company’s ability to service those markets; the Company’s ability to develop sales and marketing capabilities, whether alone or with potential future collaborators; the rate and degree of market acceptance of the Company’s product candidates, if approved; and the impacts of political unrest, including as a result of geopolitical tension, including the conflict between Russia and Ukraine, the People’s Republic of China and the Republic of China (Taiwan), and any sanctions, export controls or other restrictive actions that may be imposed by the United States and/or other countries which could have an adverse impact on the Company’s operations, including through disruption in supply chain or access to potential international clinical trial sites, and through disruption, instability and volatility in the global markets, which could have an adverse impact on the Company’s ability to access the capital markets. These and other risks are described in the Company’s periodic reports, including its Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K, filed with or furnished to the Securities and Exchange Commission and available at www.sec.gov. Any forward-looking statements that the Company makes in this press release speak only as of the date of this press release. The Company assumes no obligation to update forward-looking statements whether as a result of new information, future events or otherwise, after the date of this press release.Contact Information:Matt [email protected]

GlobeNewswire

Windtree Announces Issuance of Composition of Matter Patent for Dual Mechanism SERCA2a Activators by the US Patent and Trademark Office

https://finance.yahoo.com/news/windtree-announces-issuance-composition-matter-120000730.html

d628fca2-35de-36ff-9599-d95bdd20fbb9

WINT

Investing in biotech stocks can be challenging. The rewards can be great when your company hits on a popular drug, treatment or product. But there are also plenty of pitfalls that make such investments a risk.Biotech stocks represent companies that develop products and technology involving genetics and molecular biology. Some of them develop new drugs, therapies and medical treatments.Others develop genetically modified organisms to improve crop yield or the nutritional content of food.InvestorPlace - Stock Market News, Stock Advice & Trading TipsBut it’s difficult. Biotechs trying to develop drugs or therapies go through a long, expensive clinical trial process. At any point, a company could be forced to pull the plug on the drug should the trial not show effectiveness.Even after that process is over, the drug or therapy needs to get regulatory approval before it can go to market.On top of that, bringing a drug to market is expensive. It takes a lot of research and development money. That could be a challenge for a new company with few reserves and isn’t yet bringing in revenue. Often, small companies have a relatively small pipeline of potential drugs and treatments.There are some solid biotech stocks on the market. But many more deserve an “F” rating from the Portfolio Grader. If you are considering an investment in one of these F-rated biotech stocks, think twice.Biocept (BIOC)Photo of test tubes and droplet with purple and reddish-orange sunset visual effect, representing biotechSource: shutterstock.com/Romix ImageBiocept (NASDAQ:BIOC) is a struggling company that benefited from the Covid-19 pandemic by providing testing services. But now that the need for testing has dropped, Biocept’s profits have fallen.Despite a 1-for-30 stock split in May, BIOC stock is barely at $1 per share, falling 93% in 2023.Biocept, which stopped its Covid-19 testing in February, specializes in molecular oncology diagnostics and provides testing services to help physicians detect and monitor cancer biomarkers from cerebrospinal fluid samples.Story continuesIt’s now conducting a clinical trial hoping to make its proprietary treatment a recognized standard of care.Revenues for the second quarter were $600,000 in revenue, compared to $5.8 million a year ago. The company’s losses came in at $3.6 million, or $3.50 per share.The company has $6.6 million cash on hand, with $3.6 million coming from a public offering of 1.17 million shares of stock.Biocept has an “F” rating in the Portfolio Grader.Sonnet BioTherapeutics (SONN)Concept photo choice or strategy for treating patient - surgical (operation) or therapeutic (with medications). Doctor holds surgical scalpels in one hand, in another - pills in blisters and ampoules. SONN StockSource: Shidlovski / Shutterstock.comSonnet BioTherapeutics (NASDAQ:SONN) is a North Carolina-based biotechnology company that also has a focus on oncology.Sonnet is developing a technology that allows a fully human single-chain antibody fragment to bind to human serum albumin, the main protein in plasma.Sonnet says that its therapy allows treatment to be transported to targeted tissues with better penetration and without invasive, toxic therapies.However, Sonnet is far from bringing its treatment to market. It has six programs, but only one has reached Phase 2 testing. That explains why revenue for the second quarter was only $36,000, while expenses were nearly $4 million.SONN stock is down 74% this year and has an “F” rating in the Portfolio Grader.Moderna (MRNA)Moderna logo is seen at the entrance to its headquarters in Cambridge, Massachusetts. Moderna, Inc., (MRNA) is an American pharmaceutical and biotechnology company.Source: Tada Images / Shutterstock.comUnlike the first two names on this list, Moderna (NASDAQ:MRNA) is well-known and mature. It has a market capitalization of $44 billion, and it’s best known for its role in developing a Covid-19 vaccine.But even big biotech companies can run into trouble, and Moderna’s in that spot now. The Covid-19 vaccine brought in $36 billion in revenue in the last two years, but that profit is drying up quickly.Revenue in the second quarter was $344 million, down nearly 95% from a year ago. The company posted a loss of $3.62 per share – but even that huge number was better than the $4.12 loss per share analysts expected.One glimmer of hope for MRNA stock is that its vaccine is said to be effective for the coronavirus wave that is currently causing hospitalizations to creep up in the U.S.The White House is urging people to get new boosters – and if that happens, Moderna may be able to stop the bleeding, at least in the short term.But if you hope that MRNA stock will rebound to its previous levels, you’re in for a disappointment. MRNA stock is down 35% this year and has an “F” rating in the Portfolio Grader.Windtree Therapeutics (WINT)a representation of floating moleculesSource: ShutterstockWindtree Therapeutics (NASDAQ:WINT) is a Pennsylvania biotech company that works to treat late-stage cardiovascular disorders such as cardiogenic shock and acute heart failure.But it hasn’t been a good year. Windtree stock is down 85% this year, with much of that coming in May when its chairman, James Huang, stepped down. Huang said in his resignation letter that the company stock doesn’t reflect its true worth and that Windtree was wrong to transfer ownership shares from current shareholders.Windtree reported a second-quarter net loss of $6.6 million, or $1.64 per share. The company raised $12.4 million in the quarter and has enough cash to sustain operations through the first quarter of 2024.WINT stock has five drugs in its pipeline, four in Phase 2 testing. Ideally, it will find a way to make revenue before money runs out next year, or it will have to raise more funds, possibly diluting shareholder value.Windtree has an “F” rating in the Portfolio Grader.Fresh Tracks Therapeutics (FRTX)Light blue pills on white background. Pharmaceutical industry, medical treatment, presciption drugs concept. Digital 3D render., biotech stocks, big pharma. EVAX stockSource: Hernan E. Schmidt / Shutterstock.comFresh Tracks Therapeutics (NASDAQ: FRTX) is a clinical-stage pharmaceutical company in San Diego.The company works to develop therapeutics for people who suffer from autoimmune diseases, inflammatory conditions and other disorders.It has four drugs in its pipeline, but only one is in Phase 1 testing: an oral treatment for autoimmune diseases such as dermatitis, rheumatoid arthritis and Type 1 diabetes. Its other three candidates are in the discovery or pre-clinical stages.That means Fresh Tracks can’t expect to see significant revenue any time soon; it will be burning through money on research and development. The company said it had cash and cash equivalents of $8.9 million at the end of June, which should be enough to fund the company for another 12 months.It reported a net loss of $2.3 million for the quarter, with revenue of only $100,000.FRTX stock is down 58% this year and has an “F” rating in the Portfolio Grader.Tenax Therapeutics (TENX)a scientist with protective equipment and microscope in a lab, OBSV stockSource: luchschenF / Shutterstock.comTenax Therapeutics (NASDAQ:TENX) is a pharmaceutical company that studies and develops treatments for cardiopulmonary diseases.Its primary focus is treating pulmonary hypertension, a condition affecting the lungs and heart. As many as 50 million people are estimated to have pulmonary hypertension.Tenax is planning to conduct Phase 3 testing for its oral levosimendan drug to treat pulmonary hypertension with heart failure and secured a patent for the drug that gives it a potential commercial runway through the end of 2040.However, that would be a long time for investors to wait for profits. Earnings for the second quarter showed a net loss of $1.1 million or 5 cents per share. The company has $13.3 million in cash and cash equivalents.It’s possible that Tenax could be a solid long-term play. But with no revenue in the foreseeable future and the stock price down 81% this year, it’s clear why TENX stock has an “F” rating in the Portfolio Grader.Tracon Pharmaceuticals (TCON)Biochemical/biotech research scientist team working with microscopeSource: Mongkolchon Akesin / Shutterstock.comTracon Pharmaceuticals (NASDAQ: TCON) is a California-based biopharmaceutical company. It’s working on developing and commercializing cancer treatments.Its top candidate, envafolimab, is being developed to treat sarcoma. It is in various stages of testing in the U.S., Japan and China for its effectiveness against solid tumors, gastric cancer and biliary tract cancer.The company, however, is tiny, with a market capitalization of less than $8 million. That doesn’t give it much breathing room for research and development.Also notable is the stock price, which, at less than 25 cents per share, is down 85% this year. Much of that came in May following a legal dispute with I-Mab (NASDAQ:IMAB). The conflict was over a collaboration agreement to develop the CD73 antibody uliledlimab. The deal ended with an agreed-upon $9 million fee, but Tracon sought $200 million in damages.The judge ruled Tracon would not receive damages and would have no right to future economic with I-Mab. But Tracon did get $13.5 million in legal fees, which the company said would help fund the company into 2024.TCON stock has an “F” rating in the Portfolio Grader.On the date of publication, neither Louis Navellier nor the InvestorPlace Research Staff member primarily responsible for this article held (either directly or indirectly) any positions in the securities mentioned in this article.Louis Navellier, who has been called “one of the most important money managers of our time,” has broken the silence in this shocking “tell all” video… exposing one of the most shocking events in our country’s history… and the one move every American needs to make today.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 F-Rated Biotech Stocks You Shouldn’t Touch With a 10-Foot Pole appeared first on InvestorPlace.

InvestorPlace

7 F-Rated Biotech Stocks You Shouldn’t Touch With a 10-Foot Pole

https://finance.yahoo.com/news/7-f-rated-biotech-stocks-112036161.html

51e4074a-9fae-3e7a-b31e-05507626eba6

WK

NEW YORK, August 24, 2023--(BUSINESS WIRE)--Workiva Inc. (NYSE:WK), the world’s leading cloud platform for assured integrated reporting, today announced its planned participation at two investor conferences. Workiva's management team will present at the following events:Goldman Sachs Communacopia & Technology Conference: CEO Julie Iskow will present on Sept. 7, 2023, at 3:45pm PT.Citi's 2023 Global Technology and GEMS Conference: CFO Jill Klindt will present on Sept. 8, 2023, at 8:15am ET.The events will be webcast live and a recording will be available for a limited time under the "Events and Presentations" section on Workiva's investor relations website.About WorkivaWorkiva Inc. (NYSE:WK) is on a mission to power transparent reporting for a better world. We build and deliver the world’s leading cloud platform for assured integrated reporting to meet stakeholder demands for action, transparency, and disclosure of financial and non-financial data. Workiva offers the only unified SaaS platform that brings customers’ financial reporting, Environmental, Social, and Governance (ESG), and Governance, Risk, and Compliance (GRC) together in a controlled, secure, audit-ready platform. Our platform simplifies the most complex reporting and disclosure challenges by streamlining processes, connecting data and teams, and ensuring consistency. Learn more at workiva.com.Follow Workiva on LinkedIn Follow Workiva on InstagramView source version on businesswire.com: https://www.businesswire.com/news/home/20230824164907/en/ContactsInvestor: Mike [email protected]: Darcie [email protected]

Business Wire

Workiva Inc. to Participate in Upcoming Investor Conferences

https://finance.yahoo.com/news/workiva-inc-participate-upcoming-investor-201500034.html

01626582-3c38-3dab-8258-b79504031013

WK

Nvidia upgraded, CrowdStrike 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: Phillip Securities upgraded Nvidia (NVDA) to Buy from Accumulate with a $645 price target, up from $440. Data center growth drove the strong revenue beat in Q2 and even stronger Q3 guidance, the firm notes, adding that a "market monopoly" is driving "blowout results" for Nvidia.Evercore ISI upgraded JetBlue (JBLU) to In Line from Underperform with a $4.50 price target following the 35% decline in shares since the firm's previous downgrade in July.Truist upgraded Church & Dwight (CHD) to Buy from Hold with a price target of $105, up from $95. The firm believes Church & Dwight's Q2 results are a sign that the company and its categories "are largely out of the woods from the post-pandemic reversion."BTIG upgraded Zimmer Biomet (ZBH) to Buy from Neutral with a $139 price target. The shares have pulled back 13% since the Q2 earnings call and now sit at the lowest level relative to Stryker (SYK) over the last 20 years on a price-to-earnings basis, the firm says,William Blair upgraded AppFolio (APPF) to Outperform from Market Perform without a price target. The firm has grown "increasingly supportive" of the company's strategic and financial direction.Top 5 Downgrades:Morgan Stanley downgraded Crowdstrike (CRWD) to Equal Weight from Overweight with a price target of $167, down from $178. The firm is cautious on the shares into the fiscal Q2 earnings report this week, saying consensus estimates for a second half of 2023 and 2024 rebound "appear high in light of a more difficult demand environment."Bernstein downgraded L3Harris Technologies (LHX) to Market Perform from Outperform with a price target of $210, down from $239. The firm still expects strong sales growth for L3Harris, supported by rising backlog, but says the problem remains on margins with supply chain issues, inflation on fixed-price contracts, and execution.BTIG downgraded Upwork (UPWK) to Neutral from Buy without a price target. With the shares up 41% year-to-date, the catalysts have played out with Upwork making a take rate-accretive changes to its commission structure earlier this year as well slashing its fiscal 2023 brand marketing spend, the firm says.Truist downgraded Essex Property Trust (ESS) to Hold from Buy with a price target of $266, up from $255. This is "largely a valuation-driven downgrade of a recent outperformer," says the firm.Wells Fargo downgraded Atmos Energy (ATO) to Equal Weight from Overweight with a price target of $128, down from $132, following strong year-to-date performance. With shares trading at 18% price-to-earnings premiums to LDC peers, the firm is moving to the sidelines.Top 5 Initiations: Cantor Fitzgerald initiated coverage of NextGen Healthcare (NXGN) with an Overweight rating and $21 price target. The firm sees the company's suite of offerings as well positioned for the shift of U.S. healthcare into value-based care and shared savings.Wolfe Research initiated coverage of Workiva (WK) with an Outperform rating and $120 price target. Strengthening fundamentals, a "sticky" installed base, disparate competition, and an expanding total addressable market aided by global regulatory changes, gives Workiva the opportunity to stretch its leadership position, and drive accelerating growth and rapidly expanding margins, the firm tells investors in a research note.Raymond James resumed coverage of Duolingo (DUOL) with a Market Perform rating and no price target. The firm sees the stock's risk/reward as "only slightly favorable" with the shares up 90% year-to-date.RBC Capital initiated coverage of Tetra Tech (TTEK) with an Outperform rating and $181 price target. Tetra Tech is a specialized engineering company that offers investors "unique sustainability-aligned end-market exposure, a strong track record of growth, and a significant U.S. presence, positioning it well amidst the current infrastructure investment cycle," the firm says.Canaccord initiated coverage of Surf Air Mobility (SRFM) with a Buy rating and $3 price target. By developing hybrid and electric powertrains to modify existing aircraft, Surf has created a viable path to lower operating costs enough to make regional air mobility travel economically attractive, says the firm.

The Fly

Nvidia upgraded, CrowdStrike downgraded: Wall Street's top analyst calls

https://finance.yahoo.com/news/nvidia-upgraded-crowdstrike-downgraded-wall-135807215.html

18e6ee53-7f29-3802-bdc7-7e8477fa8849

WM

A comprehensive analysis of WM's dividend history, growth, and future prospectsWaste Management Inc (NYSE:WM) recently announced a dividend of $0.7 per share, payable on 2023-09-22, with the ex-dividend date set for 2023-09-07. As investors anticipate this upcoming payment, it's crucial to examine the company's dividend history, yield, and growth rates. Using GuruFocus data, let's delve into Waste Management Inc's dividend performance and assess its sustainability.About Waste Management IncWarning! GuruFocus has detected 3 Warning Sign with WM. Click here to check it out. High Yield Dividend Stocks in Gurus' PortfolioThis Powerful Chart Made Peter Lynch 29% A Year For 13 YearsHow to calculate the intrinsic value of a stock?Waste Management Inc is the largest integrated provider of traditional solid waste services in the United States, operating 259 active landfills and about 337 transfer stations. The company serves residential, commercial, and industrial end markets and is also a leading recycler in North America.Waste Management Inc (WM): A Deep Dive into Dividend Performance and SustainabilityWaste Management Inc's Dividend HistoryWaste Management Inc has maintained a consistent dividend payment record since 1998, with dividends currently distributed on a quarterly basis. The company has increased its dividend each year since 1999, earning the title of a dividend achiever, a distinction given to companies that have increased their dividend each year for at least the past 24 years. Below is a chart showing annual Dividends Per Share for tracking historical trends.Waste Management Inc (WM): A Deep Dive into Dividend Performance and SustainabilityWaste Management Inc's Dividend Yield and GrowthAs of today, Waste Management Inc currently has a 12-month trailing dividend yield of 1.73% and a 12-month forward dividend yield of 1.79%. This indicates an expectation of increased dividend payments over the next 12 months.Over the past three years, Waste Management Inc's annual dividend growth rate was 8.20%. Extended to a five-year horizon, this rate increased to 8.40% per year. Over the past decade, Waste Management Inc's annual dividends per share growth rate stands at 6.20%.Story continuesBased on Waste Management Inc's dividend yield and five-year growth rate, the 5-year yield on cost of Waste Management Inc stock as of today is approximately 2.59%.Waste Management Inc (WM): A Deep Dive into Dividend Performance and SustainabilityDividend Sustainability: Payout Ratio and ProfitabilityTo assess the sustainability of the dividend, one needs to evaluate the company's payout ratio. The dividend payout ratio provides insights into the portion of earnings the company distributes as dividends. A lower ratio suggests that the company retains a significant part of its earnings, thereby ensuring the availability of funds for future growth and unexpected downturns. As of 2023-06-30, Waste Management Inc's dividend payout ratio is 0.49.Waste Management Inc's profitability rank of 8 out of 10, as of 2023-06-30, suggests good profitability prospects. The company has reported positive net income for each year over the past decade, further solidifying its high profitability.Future Prospects: Growth MetricsFor the sustainability of dividends, a company must have robust growth metrics. Waste Management Inc's growth rank of 8 out of 10 suggests a good growth trajectory relative to its competitors.Waste Management Inc's revenue per share and 3-year revenue growth rate indicate a strong revenue model. The company's revenue has increased by approximately 9.50% per year on average, outperforming approximately 59.09% of global competitors.The company's 3-year EPS growth rate showcases its ability to grow earnings, a key component for sustaining dividends in the long run. During the past three years, Waste Management Inc's earnings increased by approximately 11.30% per year on average, outperforming approximately 53.09% of global competitors.Lastly, the company's 5-year EBITDA growth rate of 2.30% outperforms approximately 27.27% of global competitors.ConclusionConsidering Waste Management Inc's consistent dividend payments, impressive growth rate, reasonable payout ratio, high profitability, and robust growth metrics, the company presents a compelling case for dividend-focused investors. However, it's crucial to monitor these factors over time to ensure the sustainability of dividends. GuruFocus Premium users can screen for high-dividend yield stocks using the High Dividend Yield Screener.This article first appeared on GuruFocus.

GuruFocus.com

Waste Management Inc (WM): A Deep Dive into Dividend Performance and Sustainability

https://finance.yahoo.com/news/waste-management-inc-wm-deep-110321556.html

53714d61-30ab-3f15-b61c-85d167a58c4d

WM

In this article, we discuss 13 best stocks to invest in, according to AI. If you want to skip our detailed discussion on how valuable AI can prove to be in the financial and stock trading industry, head directly to 5 Best Stocks To Invest In According to AI.The abundance of posts claiming that ChatGPT, an AI-powered chatbot, has beaten the stock market highlights the significant variation in its responses based on input. It's important to appreciate and leverage the diverse possibilities AI offers. For instance, when Bloomberg asked ChatGPT to create an ETF to outperform the US stock market, it simply reiterated the standard disclaimer that past performance doesn't guarantee future results and that beating the market due to its high volatility is improbable.However, experts have managed to coax ChatGPT into providing lists of stocks by posing as expert stock advisors. Investors have explored using AI to gain an edge in the market, with some researchers claiming high success rates for short-term predictions using machine learning models based on trading data. A group of stocks chosen by ChatGPT has shown significantly better performance than some of the most popular investment funds in the UK.Finder.com, a financial comparison site, tasked ChatGPT with constructing a stock portfolio aimed at surpassing some of the United Kingdom's most favored funds, including Fundsmith, Vanguard LifeStrategy 100% Equity A Acc, Vanguard LifeStrategy 80% Equity A Acc, and Vanguard FTSE Glb All Cp Idx £ Acc, among others. Over an eight-week period, the ChatGPT-generated portfolio of 38 stocks gained 4.9% during the initial 11 weeks since its creation on March 6, 2023, while ten leading investment funds in the UK experienced an average loss of 0.8%, according to CNN. This performance notably outpaced the performance of the top 10 most popular UK funds, which experienced a decline of 0.12% over the same period. For the purposes of this article, we have chosen 12 stocks from ChatGPT's portfolio that garnered the highest interest from hedge fund investors.Story continuesAI's influence on stock markets has become substantial, leading to comparisons with the surges witnessed in cryptocurrency and the dot-com era. Companies increasingly use buzzwords like "generative AI," "large language models," and "artificial intelligence" during earnings calls and meetings, resulting in a substantial 85% increase in the use of the term "artificial intelligence" during such events. This heightened focus on AI often drives up stock prices when companies announce plans to integrate AI into their operations, even among non-tech firms like Wendy's, which experienced stock price gains after revealing AI-driven cost-cutting plans.Although traditional investment funds have been using AI for years, ChatGPT makes this technology accessible to the general public, potentially influencing retail investors' decisions. A survey by Finder.com found that 8% of UK adults had already used ChatGPT for financial advice, and 19% were considering doing so.However, 35% of respondents indicated that they would not consider using the chatbot for financial decisions. Douglas Boneparth, a certified financial planner and the president and founder of Bone Fide Wealth, explains to CNBC Make It that ChatGPT is certainly not a tool that can help you outperform the stock market in any way. While AI can process vast amounts of data and make some accurate stock picks, its long-term performance remains uncertain. Additionally, the limitations of AI, such as outdated knowledge and an inability to understand individual preferences, make it unsuitable for replacing human financial advisors.Despite its potential, experts advise caution and recommend conducting individual research or consulting a qualified financial adviser when making investment decisions, as it may be too early to fully trust AI with financial matters. Instead, ChatGPT and similar AI tools can be valuable for looking up financial terms and gathering data during research. For emotionally-driven financial decisions or those involving personal preferences, human financial advisors are better equipped to provide tailored guidance and empathetic support, areas where AI currently falls short. Nonetheless, the democratization of AI is seen as a disruptive force in the financial industry.The current market performance and the hype created by AI technology can be a motivator for investors to consider the best investments according to AI. Ergo, investors looking to diversify their portfolios by investing in these stocks can check our list, which includes Microsoft Corporation (NASDAQ:MSFT), Meta Platforms Inc. (NASDAQ:META), and Alphabet Inc. (NASDAQ:GOOG).Our MethodologyWe selected the best stocks to invest in according to AI based consensus picks from credible sources. We have calculated the performance of each stock from the day its source was published, to date. We also 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.13 Best Stocks To Invest In According To AIPhoto by lucas law on UnsplashBest Stocks To Invest In According to AI13. Parsons Corporation (NYSE:PSN)Number of Hedge Fund Holders: 15Share price performance from August 17 to September 7: 2.81% Parsons Corporation (NYSE:PSN) delivers integrated solutions and services within the defense, intelligence, and critical infrastructure sectors across North America, the Middle East, and worldwide. The company operates through two divisions: Federal Solutions and Critical Infrastructure. On August 02, Parsons Corporation (NYSE:PSN) reported a Q2 GAAP EPS of $0.38, beating Wall Street estimates by $0.10. The revenue of $1.36 billion increased 34% year-on-year, surpassing market estimates by $230 million.The share price for Parsons Corporation (NYSE:PSN) has increased by 2.81% since August 17, hinting that this can be a good investment option this year. According to Insider Monkey’s second quarter database, 15 hedge funds were bullish on Parsons Corporation (NYSE:PSN), compared to 12 in the previous quarter. Ken Griffin’s Citadel Investment Group is the top stakeholder of the firm, with 565,006 shares, valued at approximately $27.2 million.Like Microsoft Corporation (NASDAQ:MSFT), Meta Platforms Inc. (NASDAQ:META), and Alphabet Inc. (NASDAQ:GOOG), Parsons Corporation (NYSE:PSN) is one of the best AI stocks to monitor.12. ChampionX Corporation (NASDAQ:CHX)Number of Hedge Fund Holders: 24Share price performance from August 17 to September 7: 7.02%ChampionX Corporation (NASDAQ:CHX) offers chemical solutions and specialized equipment and technologies to global oil and gas firms. The company is organized into four divisions: Production Chemical Technologies, Production & Automation Technologies, Drilling Technologies, and Reservoir Chemical Technologies. On July 24, ChampionX Corporation (NASDAQ:CHX) reported a Q2 non-GAAP EPS of $0.49, beating Wall Street estimated by $0.05. The revenue of $926.6 million decreased by 0.6%, missing market estimates by $54.91 million.AI has picked this stock as one of the best stocks to invest in, according to a source published on August 17. Since then to date, the stock has seen an increase of almost 7% in its value.According to Insider Monkey’s second quarter database, 24 hedge funds were bullish on ChampionX Corporation (NASDAQ:CHX), one down from the last quarter. Jeffrey Gates’ Gates Capital Management is the top stakeholder of the firm, with 4.17 million shares, valued at approximately $129 million.Alger Small Cap Focus Fund made the following comment about ChampionX Corporation (NASDAQ:CHX) in its Q4 2022 investor letter:“ChampionX Corporation (NASDAQ:CHX) provides equipment and services that assist in the drilling. completion and production phases of well drilling. The company also provides production and reservoir chemicals, along with highly engineered equipment and technologies, such as artificial lift and drill bit inserts, for the oil and gas industry. Notably, ChampionX has a global footprint and favorable product mix, where its chemicals and artificial lift businesses are tied to the production phase of the life of a well. We believe this produces lower earnings variability and potentially stronger operating results. Shares outperformed during the quarter as the company reported strong fiscal third quarter results and gave better-than-expected fourth quarter guidance. Moreover, the company expanded its capital return program by committing to return 60% of its free cash flow (FCF) to shareholders through opportunistic buybacks. Management also raised its share buyback authorization program from $250m to $750m over next 2 to 3 years. We believe the company is well positioned to deliver strong revenue growth, driven by their production focused Performance Chemicals business, which may lead to margin improvement and FCF generation.”11. Chart Industries (NYSE:GTLS)Number of Hedge Fund Holders: 37Share price performance from August 2 to September 7: 4.84%Chart Industries (NYSE:GTLS) produces and markets specialized cryogenic equipment for both the industrial gas and clean energy sectors, serving customers in the United States and around the world. The company is structured into four distinct divisions: Cryo Tank Solutions, Heat Transfer Systems, Specialty Products, and Repair, Service & Leasing. On February 24, Chart Industries (NYSE:GTLS) reported a Q4 non-GAAP EPS of $1.67, missing Wall Street estimates by $0.03. The revenue of $441.4 million increased 16.5% year-over-year, missing market estimates by $49.48 million.As of August 02, Chart Industries (NYSE:GTLS) has seen a 4.84% increase in stock price. According to Insider Monkey’s second quarter database, 37 hedge funds were bullish on Chart Industries (NYSE:GTLS), as compared to 43 in the prior quarter. Franklin Parlamis’s Aequim Alternative Investments is the top stakeholder of the firm, with 740,000 shares, valued at approximately $48.2 million.Aristotle Atlantic Large Cap Growth Strategy made the following comment about Chart Industries, Inc. (NYSE:GTLS) in its Q1 2023 investor letter:“Chart Industries, Inc. (NYSE:GTLS) is a leading independent global manufacturer of highly engineered equipment servicing multiple applications in the Energy and Industrial Gas markets. Its unique product portfolio is used in every phase of the liquid gas supply chain, including upfront engineering, service and repair. Being at the forefront of the clean energy transition, Chart is a leading provider of technology, equipment and services related to liquefied natural gas, hydrogen, biogas and CO2 Capture amongst other applications. Chart’s customers are mainly large, multinational producers and distributors of hydrocarbon and industrial gases. The company generates about half its sales in North America.We see Chart Industries as a leading manufacturer of highly engineered cryogenic solutions that are used for the production and storage of industrial gases. With the exposure to energy end markets including liquified natural gas (LNG), compressed natural gas (CNG) and hydrogen, the company has the technology to ship gas from oversupplied markets to markets that do not have access to enough energy resources. Hydrogen is gaining traction as a renewable fuel due to the focus on climate change. The recent acquisition of Howden is complementary to Chart’s existing product and service offerings.10. Waste Management (NYSE:WM)Number of Hedge Fund Holders: 39Share price performance from August 17 to September 7: -1.59%Waste Management (NYSE:WM) and its subsidiary companies specialize in delivering environmental solutions to customers in the residential, commercial, industrial, and municipal sectors across the United States and Canada. On August 21, Waste Management (NYSE:WM) declared a quarterly dividend of $0.70 per share, in line with previous. The dividend will be distributed on September 22, to shareholders of record on September 08.As of August 17, Waste Management (NYSE:WM) has seen a decline of 1.59% in stock performance, indicating that AI stock picks might not always be the best ones to invest in. According to Insider Monkey’s second quarter database, 39 hedge funds were bullish on Waste Management (NYSE:WM), as compared to 43 in the prior quarter. Michael Larson’s Bill & Melinda Gates Foundation Trust is the top stakeholder of the firm, with 35.2 million shares, valued at approximately $6.11 billion.9. Trex Company Inc. (NYSE:TREX)Number of Hedge Fund Holders: 43Share price performance from August 17 to September 7: 2.70%Trex Company Inc. (NYSE:TREX) produces and markets composite decking, railing, and outdoor living items and accessories designed for both residential and commercial markets within the United States. The company is divided into two segments: Trex Residential and Trex Commercial. On July 31, Trex Company Inc. (NYSE:TREX) reported a Q2 GAAP EPS of $0.71, beating market estimates by $0.17. The revenue of $357 million dropped 7.6% year-over-year, surpassing market estimates by $38.11 million.As of August 17, the share price performance of Waste Management (NYSE:WM) has seen a rise of 2.70%, hinting at the probability of this stock being a good investment option. According to Insider Monkey’s second quarter database, 43 hedge funds were bullish on Trex Company Inc. (NYSE:TREX), as compared to 30 in the prior quarter. Steve Cohen’s Point72 Asset Management is the top stakeholder of the firm, with 1.34 million shares, valued at approximately $88 million.​​Conestoga Smid Strategy made the following comment about Trex Company, Inc. (NYSE:TREX) in its second quarter 2023 investor letter:“Trex Company, Inc. (NYSE:TREX): TREX is a market share leader in the manufacturing and distribution of composite decking that is sold in the residential market. TREX reported solid results in 1Q23 with better margins and with guidance for 2Q23 that was higher than street expectations. The stock rallied during the quarter given the solid results, a normalization of inventory in the channel, and the recent introduction of several exciting new products.”8. CME Group Inc. (NASDAQ:CME) Number of Hedge Fund Holders: 55Share price performance from August 17 to September 7: -0.18%Based in Chicago, CME Group Inc. (NASDAQ:CME) manages financial derivatives exchanges such as the Chicago Mercantile Exchange, Chicago Board of Trade, New York Mercantile Exchange, and The Commodity Exchange. Additionally, the company holds a 27% ownership stake in S&P Dow Jones Indices. On July 26, CME Group Inc. (NASDAQ:CME) reported a Q2 non-GAAP EPS of $2.30, beating Wall Street estimates by $0.11. The revenue of $1.36 billion increased 9.9% year-over-year, surpassing market estimates by $20 million.As of August 17, the share price performance of CME Group Inc. (NASDAQ:CME) has seen a drop of 0.18%. This drop is not significant enough to label the stock as a poor investment choice, and the almost 10% revenue growth year-over-year backs that assessment. According to Insider Monkey’s second quarter database, 55 hedge funds were bullish on CME Group Inc. (NASDAQ:CME), same as the last quarter. Guardian Capital’s GuardCap Asset Management is the top stakeholder of the firm, with 4.24 million shares, valued at approximately $785 million.VGI Partners made the following comment about CME Group Inc. (NASDAQ:CME) in its second quarter 2023 investor letter:“CME Group Inc. (NASDAQ:CME) operates futures and derivatives exchanges, including the Chicago Mercantile Exchange, the New York Mercantile Exchange, the Chicago Board of Trade, and the Dow Jones Index Services. On top of this, CME also owns other key assets related to foreign exchange trading & infrastructure and a strategic shareholding in Standard & Poor’s (S&P) Index business.The key driver of trading activity for CME is in its interest rate derivatives products, where it has an effective monopoly in the exchange trading of interest rate derivatives in the United States, through its benchmark products across the entirety of the interest rate curve. Demand for interest rate derivatives is driven by volatility in interest rate markets, whose effect is compounded by the number of bonds held by those looking to manage interest rate risk and, by extension, market liquidity. The below chart of average daily volumes of interest rate derivatives and US Federal debt held by the public illustrates the extremely strong relationship between the size of the US Treasury market and volumes growth, although there are deviations around this primarily around Fed intervention (for example, at the start of the pandemic, volumes were suppressed by an enormous amount of Quantitative Easing (QE) and effectively zero interest rates which reduced the demand for hedging products). We expect the growth in the size of the US Treasury market, particularly in relation to privately held US treasuries as the Fed undergoes a balance sheet unwind, to remain a powerful underpinning of CME’s interest rate derivatives business…” (Click here to read the full text)7. Exxon Mobil Corporation (NYSE:XOM)Number of Hedge Fund Holders: 71Share price performance from August 17 to September 7: 5.64%Exxon Mobil Corporation (NYSE:XOM) is involved in the exploration and extraction of crude oil and natural gas, both domestically in the United States and on a global scale. The company's operations are categorized into four segments: Upstream, Energy Products, Chemical Products, and Specialty Products. On July 28, Exxon Mobil Corporation (NYSE:XOM) reported a Q2 non-GAAP EPS of $1.94 missing b Wall Street estimates by $0.08. The revenue of $82.91 billion decreased 28.3% year-over-year, missing market estimates by $7.41 million.As of August 17, the share price performance of Exxon Mobil Corporation (NYSE:XOM) has seen a rise of 5.64%, indicating that this might be a good stock to invest in within the current stock market landscape. According to Insider Monkey’s second quarter database, 71 hedge funds were bullish on Exxon Mobil Corporation (NYSE:XOM), two less than the previous quarter. Jean-Marie Eveillard’s First Eagle Investment Management is the top stakeholder of the firm, with 13.33 million shares, worth approximately $1.43 billion. 6. Micron Technology, Inc. (NASDAQ:MU)Number of Hedge Fund Holders: 86Share price performance from August 2 to September 7: 3.29%Micron Technology, Inc. (NASDAQ:MU) is a global company specializing in the design, creation, production, and sale of memory and storage solutions. The company is structured into four segments: Compute and Networking Business Unit, Mobile Business Unit, Embedded Business Unit, and Storage Business Unit, each catering to distinct markets and needs. On June 28, Micron Technology, Inc. (NASDAQ:MU) reported a Q3 non-GAAP EPS of -$1.43, beating Wall Street estimates of $0.14. The revenue of $3.75 billion dropped by a whopping 56.6% year-over-year, surpassing market estimates by $70 million.As of August 2, the share price performance of Micron Technology, Inc. (NASDAQ:MU) has seen a hike of 3.29%, indicating that this might be a good stock to invest in within the current stock market landscape. According to Insider Monkey’s second quarter database, 86 hedge funds were bullish on Micron Technology, Inc. (NASDAQ:MU), as compared to 73 in the previous quarter. Ken Griffin’s Citadel Investment Group is the top stakeholder of the firm, with 6.73 million shares, worth approximately $424.6 million.In addition to Microsoft Corporation (NASDAQ:MSFT), Meta Platforms Inc. (NASDAQ:META), and Alphabet Inc. (NASDAQ:GOOG), Micron Technology, Inc. (NASDAQ:MU) is one of the top AI stocks to watch.Here is what Claret Asset Management has to say about Micron Technology, Inc. (NASDAQ:MU) in its Q3 2022 investor letter:“Inflation is still higher than interest rates… not an incentive to save for most people. Either inflation must come down or interest rates have to go up further. Or both. And probably both. Now that they are taking the punch bowl away and the party is over, what happens next? For whatever reason, the stock market seems to always precede the economic reality: Micron reached a high of $98.45 on January 5th, 2022 and is trading at $50.00 today.”   Click to continue reading and see 5 Best Stocks To Invest In According to AI. Suggested articles:10 Biotech Stocks with Biggest UpsideiOS vs Android Market Share by Country: Top 30 Countries Using iPhones20 Most Popular Dating Apps In The US Disclosure: None. 13 Best Stocks To Invest In According to AI is originally published on Insider Monkey.

Insider Monkey

13 Best Stocks To Invest In According to AI

https://finance.yahoo.com/news/13-best-stocks-invest-according-142817979.html

fcec758b-51f7-30f8-a22f-2f9cca0d90fd

WMB

An In-depth Analysis of the Company's Dividend History, Yield, and SustainabilityWilliams Companies Inc(NYSE:WMB) recently announced a dividend of $0.45 per share, payable on 2023-09-25, with the ex-dividend date set for 2023-09-08. As investors look forward to this upcoming payment, the spotlight also shines on the company's dividend history, yield, and growth rates. Using the data from GuruFocus, let's deep dive into Williams Companies Inc's dividend performance and assess its sustainability.Understanding Williams Companies IncWarning! GuruFocus has detected 8 Warning Signs with WMB. Click here to check it out. High Yield Dividend Stocks in Gurus' PortfolioThis Powerful Chart Made Peter Lynch 29% A Year For 13 YearsHow to calculate the intrinsic value of a stock?Williams is a midstream energy company that owns and operates the large Transco and Northwest pipeline systems and associated natural gas gathering, processing, and storage assets. In August 2018, the firm acquired the remaining 26% ownership of its limited partner, Williams Partners.Unveiling the Dividend Performance of Williams Companies Inc (WMB)Tracing Williams Companies Inc's Dividend HistoryWilliams Companies Inc has maintained a consistent dividend payment record since 1985. Dividends are currently distributed on a quarterly basis. Below is a chart showing annual Dividends Per Share for tracking historical trends.Unveiling the Dividend Performance of Williams Companies Inc (WMB)Deciphering Williams Companies Inc's Dividend Yield and GrowthAs of today, Williams Companies Inc currently has a 12-month trailing dividend yield of 5.10% and a 12-month forward dividend yield of 5.23%. This suggests an expectation of increased dividend payments over the next 12 months.Over the past three years, Williams Companies Inc's annual dividend growth rate was 3.80%. Extended to a five-year horizon, this rate increased to 7.00% per year. And over the past decade, Williams Companies Inc's annual dividends per share growth rate stands at 0.50%. Based on Williams Companies Inc's dividend yield and five-year growth rate, the 5-year yield on cost of Williams Companies Inc stock as of today is approximately 7.15%.Story continuesUnveiling the Dividend Performance of Williams Companies Inc (WMB)Is Williams Companies Inc's Dividend Sustainable?To assess the sustainability of the dividend, one needs to evaluate the company's payout ratio. The dividend payout ratio provides insights into the portion of earnings the company distributes as dividends. A lower ratio suggests that the company retains a significant part of its earnings, thereby ensuring the availability of funds for future growth and unexpected downturns. As of 2023-06-30, Williams Companies Inc's dividend payout ratio is 0.78. This may suggest that the company's dividend may not be sustainable.Williams Companies Inc's profitability rank, offers an understanding of the company's earnings prowess relative to its peers. GuruFocus ranks Williams Companies Inc's profitability 6 out of 10 as of 2023-06-30, suggesting fair profitability. The company has reported net profit in 7 years out of past 10 years.Williams Companies Inc's Growth MetricsTo ensure the sustainability of dividends, a company must have robust growth metrics. Williams Companies Inc's growth rank of 6 out of 10 suggests that the company has a fair growth outlook.Revenue is the lifeblood of any company, and Williams Companies Inc's revenue per share, combined with the 3-year revenue growth rate, indicates a strong revenue model. Williams Companies Inc's revenue has increased by approximately 9.90% per year on average, a rate that underperforms than approximately 50.35% of global competitors.The company's 3-year EPS growth rate showcases its capability to grow its earnings, a critical component for sustaining dividends in the long run. During the past three years, Williams Companies Inc's earnings increased by approximately 33.00% per year on average, a rate that underperforms than approximately 38.05% of global competitors.Concluding ThoughtsConsidering Williams Companies Inc's consistent dividend payments, moderate growth rate, and fair profitability, the company presents a mixed picture for dividend investors. The high payout ratio might raise concerns about the sustainability of dividends. However, the company's growth and profitability metrics suggest potential for future earnings. As always, investors should conduct their due diligence before making investment decisions.GuruFocus Premium users can screen for high-dividend yield stocks using the High Dividend Yield Screener.This article first appeared on GuruFocus.

GuruFocus.com

Unveiling the Dividend Performance of Williams Companies Inc (WMB)

https://finance.yahoo.com/news/unveiling-dividend-performance-williams-companies-110242522.html

601a252b-b296-3ff5-b6ae-6ce178773756

WMB

The initial pandemic period, when there were no vaccines, saw an environment of heightened uncertainties. The price of crude oil plunged to a negative $36.98 per barrel on Apr 20, 2020. However, with the rapid developments of vaccines, which led to the gradual opening of the economies, the pricing scenario of West Texas Intermediate crude improved drastically over time to reach $123.64 per barrel on Mar 8, 2022. Oil price data are per the U.S. Energy Information Administration.Currently, WTI oil price is trading at more than $85 per barrel. The recent decision of Saudi Arabia and Russia to voluntarily extend oil production cuts until the end of the year, despite the commodity trading in bullish territory, is primarily aiding the crude rally.Thus, it’s pretty apparent that the business model of most energy players, by nature, is exposed to extreme volatility in commodity prices. Hence, it would be wise for investors to keep an eye on midstream stocks like Kinder Morgan, Inc. KMI, MPLX LP MPLX and The Williams Companies Inc WMB.Midstream Energy Players to the RescueAlthough the fate of energy players is highly dependent on oil and gas prices, stocks in midstream space have lower exposure to volatility in commodity prices than oil and gas producers. This is because midstream players generate stable fee-based revenues since the transportation and storage assets are being booked by shippers for the long term. Hence, their business model is relatively low-risk, which indicates considerably less exposure to oil and gas prices and volume risks.We have employed our Stock Screener to zero in on three stocks belonging to the midstream energy space that are well-poised to gain, and hence, investors should keep an eye on these stocks. All the stocks carry a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.3 Stocks to GainKinder Morgan: With its operating interests in oil and gas pipeline networks spread across 83,000 miles, KMI is a leading energy infrastructure company in North America. It derives most of its earnings from take-or-pay contracts, generating stable fee-based revenues.Story continuesKinder Morgan is poised to grow on the back of its business model, which is relatively resilient to volume and commodity price risks.MPLX: The firm has ownership and operating interests in midstream energy infrastructure and logistics assets, thereby generating stable cashflow. With a strong focus on returning capital to unit holders, MPLX repurchased $491 million of common units last year. Under its unit repurchase authorization, the partnership has yet to buy back the remaining $846 million of its units.The Williams Companies: It is well-poised to capitalize on the mounting demand for clean energy since it is engaged in transporting, storing, gathering and processing natural gas and natural gas liquids.With its pipeline networks spread across more than 30,000 miles, The Williams Companies connects premium basins in the United States to the key market. WMB’s assets can meet 30% of the nation’s consumption of natural gas, which is utilized for heating purposes and clean-energy generation.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 reportWilliams Companies, Inc. (The) (WMB) : Free Stock Analysis ReportKinder Morgan, Inc. (KMI) : Free Stock Analysis ReportMPLX LP (MPLX) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

3 Midstream Stocks to Gain Amid Energy Market Volatility

https://finance.yahoo.com/news/3-midstream-stocks-gain-amid-125800811.html

65a21498-c326-382b-a3ee-7331cee36d97

WMC

Combination Would Establish Leading Residential Mortgage REIT With Increased Scale and Operational EfficienciesTransaction Expected to Drive Earnings Accretion and Long-Term GrowthWMC Stockholders to Receive Cash Consideration as Part of MergerNEW YORK, August 08, 2023--(BUSINESS WIRE)--AG Mortgage Investment Trust, Inc. (NYSE: MITT) ("MITT"), a publicly traded residential mortgage REIT managed by AG REIT Management, LLC, an affiliate of Angelo, Gordon & Co., L.P. ("Angelo Gordon"), a leading $73 billion alternative investment firm, and Western Asset Mortgage Capital Corporation (NYSE: WMC) ("WMC"), today announced that they have entered into a definitive merger agreement, pursuant to which MITT will acquire WMC in a fixed exchange ratio stock/cash transaction. WMC has terminated its previously announced acquisition agreement with Terra Property Trust, Inc. in accordance with the terms of such agreement.MITT’s common stock closing price on the New York Stock Exchange (the "NYSE") on August 7, 2023, implies a transaction value of $11.23 per WMC common share, consisting of stock consideration of $10.11 per share and cash consideration of $1.12 per share, representing a 34% premium to WMC’s unaffected closing stock price on the NYSE on July 12, 2023."We are very pleased to have reached an agreement to acquire WMC in a combination that presents a compelling, value-maximizing opportunity for both MITT and WMC stockholders," said T.J. Durkin, President, Chief Executive Officer, and board member of MITT. "We are confident that combining these highly complementary portfolios will help scale our platform, generate greater operational efficiencies, cost synergies, and accretive earnings growth, and benefit all stockholders. We look forward to moving swiftly to complete this transaction."James W. Hirschmann III, Chairman of WMC’s Board of Directors, stated, "After careful consideration, the Board, in consultation with its outside legal counsel and financial advisors, unanimously concluded that entering into the merger agreement with MITT is in the best interest of WMC’s stockholders. This combination will allow our stockholders to realize compelling value and we are excited about what our companies can achieve together."Story continuesBonnie Wongtrakool, Chief Executive Officer of WMC, added, "The merger of MITT and WMC delivers immediate cash value to WMC stockholders as well as allows our stockholders to continue to participate in the upside of the combined company. With the support of Angelo Gordon’s deep credit expertise, resources, and proven track record, we believe MITT is well-positioned to drive long-term value for the combined company in the residential mortgage market. We are committed to working closely with the MITT team to quickly complete the acquisition and deliver substantial value for our stockholders."Compelling Strategic Rationale for MITT and WMC StockholdersThe merger of MITT and WMC is expected to create numerous operational and financial benefits, including:Cash Consideration for Stockholders: WMC stockholders will receive a portion of the merger consideration in cash, consisting of a payment from Angelo Gordon, MITT’s external manager, equal to the lesser of $7.0 million and approximately 9.99% of the aggregate per share merger consideration, or $6.9 million in total as of August 7, 2023. Any difference between $7.0 million and the 9.99% will be used to benefit the combined company post-closing by offsetting reimbursable expenses that would otherwise be payable to MITT’s external manager.Strong Financial Rationale: Expected accretion to earnings within one year of closing and provide the combined company with an attractive growth profile. The combined company will have a reduced G&A expense ratio and an optimized capital structure, with MITT’s preferred equity reduced to 42% (down from 49%).Increased Financial Strength and Flexibility: Strong support and resources from MITT’s external manager, Angelo Gordon, a leading alternative investment firm with $73 billion of assets under management, which includes access to Angelo Gordon’s proprietary, best-in-class securitization platform. The combined company is also expected to benefit from an expanded investor base and enhanced trading liquidity and volume. Notably, for the first year following close, Angelo Gordon will waive $2.4 million of management fees.Compelling Strategic Fit: Strategically aligned investment strategies focused on securitizing residential mortgage loans brings the combined company’s investment portfolio to $5.7 billion, consisting of approximately 86% of Non-Agency residential mortgage loans, 5% of Agency RMBS, and 6% of other residential investments. WMC’s legacy commercial investments will only represent approximately 3% of the total investment portfolio on a pro forma basis.Enhanced Operational Efficiencies: Significant operating efficiencies of approximately $5-7 million on an annual basis are expected to be realized in the transaction, which is before taking into account the effective resetting of WMC’s management fee and MITT’s external manager waiving $2.4 million in management fees.Transaction OverviewEach share of WMC common stock will be converted at closing into the right to receive 1.5 shares of MITT common stock for a total of 9.2 million shares, pursuant to a fixed exchange ratio, subject to adjustment based on the companies’ respective transaction expenses,1 and a cash payment from Angelo Gordon equal to approximately 9.99% of the aggregate per share merger consideration (not to exceed $7 million in total). Upon the closing of the transaction, MITT stockholders are expected to own approximately 69% of the combined company’s stock, while WMC stockholders are expected to own approximately 31% of the combined company’s stock.Upon completion of the merger, MITT’s President and Chief Executive Officer, T.J. Durkin, will serve as Chief Executive Officer of the combined company, which will continue to operate as "AG Mortgage Investment Trust, Inc." and be managed by AG REIT Management, LLC, an affiliate of Angelo Gordon. MITT’s Board of Directors will be increased from six to eight directors to include two WMC-designated directors. The combined company will be headquartered in New York and will continue to trade on the NYSE under MITT’s current ticker symbol.Additional information on the transaction and the anticipated benefits to MITT and WMC stockholders can be found in MITT’s investor deck relating to the transaction posted on MITT’s website. The investor deck is also being furnished by MITT in a Current Report on Form 8-K being filed by MITT with the Securities and Exchange Commission (the "SEC") on the date hereof._____________________1 Exchange ratio is based on 6.150 million outstanding shares of WMC common stock on a fully-diluted basis as of June 30, 2023.Timing and ApprovalsThe transaction has been unanimously approved by the Boards of Directors of MITT and WMC and external managers of MITT and WMC. The transaction is expected to close in the fourth quarter of 2023, subject to the respective approvals by the stockholders of MITT and WMC and other customary closing conditions set forth in the merger agreement.AdvisorsPiper Sandler & Co. is acting as exclusive financial advisor and Hunton Andrews Kurth LLP is acting as legal counsel to MITT. BTIG, LLC and JMP Securities, a Citizens Company, are acting as financial advisors, and Skadden, Arps, Slate, Meagher & Flom LLP is acting as legal advisor to WMC.About AG Mortgage Investment Trust, Inc.AG Mortgage Investment Trust, Inc. is a residential mortgage REIT with a focus on investing in a diversified risk-adjusted portfolio of residential mortgage-related assets in the U.S. mortgage market. AG Mortgage Investment Trust, Inc. is externally managed and advised by AG REIT Management, LLC, a subsidiary of Angelo, Gordon & Co., L.P., a leading alternative investment firm focusing on credit and real estate strategies.Additional information can be found on MITT’s website at www.agmit.com.About Angelo, Gordon & Co., L.P.Angelo, Gordon & Co., L.P. is a leading alternative investment firm founded in November 1988. The firm currently manages approximately $73 billion* with a primary focus on credit and real estate strategies. Angelo Gordon has over 650 employees, including more than 200 investment professionals, and is headquartered in New York, with associated offices elsewhere in the U.S., Europe and Asia. For more information, visit www.angelogordon.com.*Angelo Gordon’s (the "firm") currently stated assets under management ("AUM") of approximately $73 billion as of December 31, 2022 reflects fund-level asset-related leverage. Prior to May 15, 2023, the firm calculated its AUM as net assets under management excluding leverage, which resulted in firm AUM of approximately $53 billion as of December 31, 2022. The difference reflects a change in the firm’s AUM calculation methodology and not any material change to the firm’s investment advisory business. For a description of the factors the firm considers when calculating AUM, please see the disclosure at www.angelogordon.com/disclaimers/.About Western Asset Mortgage Capital CorporationWMC is a real estate investment trust that invests in, finances, and manages a diverse portfolio of assets consisting of Residential Whole Loans, Non-Agency RMBS, and to a lesser extent GSE Risk Transfer Securities, Commercial Loans, Non-Agency CMBS, Agency RMBS, Agency CMBS, and ABS. WMC is externally managed and advised by Western Asset Management Company, LLC, an investment advisor registered with the Securities and Exchange Commission and a wholly-owned subsidiary of Franklin Resources, Inc.Additional InformationThis communication relates to the proposed merger (the "Merger") pursuant to the terms of a definitive agreement and plan of merger (the "Merger Agreement"). In connection with the proposed Merger, MITT expects to file with the SEC a registration statement on Form S-4 that will include a prospectus of MITT and a joint proxy statement of MITT and WMC. MITT and WMC also expect to file with the SEC other documents regarding the Merger. The Merger will be submitted to the stockholders of MITT and WMC for their consideration. The definitive joint proxy statement/prospectus will be sent to the stockholders of MITT and WMC, and will contain important information about MITT, WMC, the proposed Merger and related matters. This communication is not a substitute for any proxy statement, registration statement, tender or exchange offer statement, prospectus or other document MITT or WMC may file with the SEC in connection with the proposed Merger and related matters. INVESTORS AND SECURITY HOLDERS ARE ADVISED TO READ THE REGISTRATION STATEMENT ON FORM S-4 AND THE RELATED JOINT PROXY STATEMENT/PROSPECTUS (INCLUDING ALL AMENDMENTS AND SUPPLEMENTS THERETO) AND OTHER RELEVANT DOCUMENTS FILED BY MITT AND WMC WITH THE SEC CAREFULLY AND IN THEIR ENTIRETY IF AND WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT MITT, WMC AND THE PROPOSED MERGER. Investors and security holders may obtain copies of these documents free of charge (if and when they become available) through the website maintained by the SEC at www.sec.gov. Copies of the documents filed by MITT with the SEC are also available free of charge on MITT’s website at www.agmit.com. Copies of the documents filed by WMC with the SEC are also available free of charge on WMC’s website at www.westernassetmcc.com.Participants in the Solicitation Relating to the MergerMITT, WMC and certain of their respective directors and executive officers and certain other affiliates of MITT and WMC may be deemed to be participants in the solicitation of proxies from the common stockholders of WMC and MITT in respect of the proposed Merger. Information regarding WMC and its directors and executive officers and their ownership of common stock of WMC can be found in WMC’s Annual Report on Form 10-K for the fiscal year ended December 31, 2022, filed with the SEC on March 13, 2023, and in its definitive proxy statement relating to its 2023 annual meeting of stockholders, filed with the SEC on May 2, 2023. Information regarding MITT and its directors and executive officers and their ownership of common stock of MITT can be found in MITT’s Annual Report on Form 10-K for the fiscal year ended December 31, 2022, filed with the SEC on February 27, 2023, and in its definitive proxy statement relating to its 2023 annual meeting of stockholders, filed with the SEC on March 22, 2023. Additional information regarding the interests of such participants in the Merger will be included in the proxy statement/prospectus and other relevant documents relating to the proposed Merger when they are filed with the SEC. These documents are available free of charge on the SEC’s website and from MITT or WMC, as applicable, using the sources indicated above.No Offer or SolicitationThis communication and the information contained herein shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offering of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act, as amended (the "Securities Act"). This communication may be deemed to be solicitation material in respect of the proposed Merger.Forward-Looking StatementsThis communication contains certain "forward-looking" statements within the meaning of Section 27A of the Securities Act and Section 21E of the Exchange Act, as amended. MITT and WMC intend such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995 and include this statement for purposes of complying with the safe harbor provisions. Words such as "expects," "anticipates," "intends," "plans," "believes," "seeks," "estimates," "will," "should," "may," "projects," "could," "estimates" or variations of such words and other similar expressions are intended to identify such forward-looking statements, which generally are not historical in nature, but not all forward-looking statements include such identifying words. Forward-looking statements regarding MITT and WMC include, but are not limited to, statements related to the proposed Merger, including the anticipated timing, benefits and financial and operational impact thereof; other statements of management’s belief, intentions or goals; and other statements that are not historical facts. These forward-looking statements are based on each of the companies’ current plans, objectives, estimates, expectations and intentions and inherently involve significant risks and uncertainties. Actual results and the timing of events could differ materially from those anticipated in such forward-looking statements as a result of these risks and uncertainties, which include, without limitation, risks and uncertainties associated with: MITT’s and WMC’s ability to complete the proposed Merger on the proposed terms or on the anticipated timeline, or at all, including risks and uncertainties related to securing the necessary stockholder approval from WMC’s and MITT’s respective stockholders and satisfaction of other closing conditions to consummate the proposed Merger; the occurrence of any event, change or other circumstance that could give rise to the termination of the Merger Agreement; risks related to diverting the attention of MITT and WMC management from ongoing business operations; failure to realize the expected benefits of the proposed Merger; significant transaction costs and/or unknown or inestimable liabilities; the risk of stockholder litigation in connection with the proposed Merger, including resulting expense or delay; the risk that MITT’s and WMC’s respective businesses will not be integrated successfully or that such integration may be more difficult, time-consuming or costly than expected; and effects relating to the announcement of the proposed Merger or any further announcements or the consummation of the proposed Merger on the market price of MITT’s or WMC’s common stock. Additional risks and uncertainties related to MITT’s and WMC’s business are included under the headings "Forward-Looking Statements" and "Risk Factors" in MITT’s and WMC’s Annual Report on Form 10-K for the year ended December 31, 2022, and in other reports and documents filed by either company with the SEC from time to time. Moreover, other risks and uncertainties of which MITT or WMC are not currently aware may also affect each of the companies’ forward-looking statements and may cause actual results and the timing of events to differ materially from those anticipated. The forward-looking statements made in this communication are made only as of the date hereof or as of the dates indicated in the forward-looking statements, even if they are subsequently made available by MITT or WMC on their respective websites or otherwise. Neither MITT nor WMC undertakes any obligation to update or supplement any forward-looking statements to reflect actual results, new information, future events, changes in its expectations or other circumstances that exist after the date as of which the forward-looking statements were made, except as required by law.View source version on businesswire.com: https://www.businesswire.com/news/home/20230808322347/en/ContactsInvestors AG Mortgage Investment Trust, Inc.Investor Relations(212) [email protected] Asset Mortgage Capital CorporationLarry ClarkFinancial Profiles, Inc.(310) [email protected] AG Mortgage Investment Trust, Inc.Jonathan Gasthalter/Amanda ShpinerGasthalter & Co.(212) 257-4170Western Asset Mortgage Capital CorporationTricia RossFinancial Profiles, Inc.(310) [email protected]

Business Wire

AG Mortgage Investment Trust and Western Asset Mortgage Capital Corporation Announce Definitive Merger Agreement

https://finance.yahoo.com/news/ag-mortgage-investment-trust-western-211000348.html

46cfc243-68df-3440-9031-c7b16cd1c6cd

WMC

NEW YORK, August 09, 2023--(BUSINESS WIRE)--Terra Property Trust, Inc. ("TPT" or "we") today issued the below statement regarding its terminated merger agreement with Western Asset Mortgage Capital Corporation (NYSE: WMC) ("WMC").Vik Uppal, Chairman & CEO of TPT and Mavik Capital Management, L.P., commented:"We are disappointed that we could not come to an agreement with WMC’s Board of Directors to merge. Our innovative proposal provided superior value to WMC stockholders in every regard, including higher total and cash consideration, perpetually reduced management fees, greater scale with lower leverage, lower transaction costs, and greater certainty of closing. WMC requested additional changes that we were unwilling to make because they would not have been in stockholders’ best interests. Ultimately, our proposal offered WMC stockholders a new path to maximizing value, but the WMC Board of Directors opted to move forward with a partner who shared its same strategies and policies that have not worked. TPT will remain relentlessly focused on our pursuit of maximizing value, investing with discipline, and advocating for stockholders."Forward-Looking StatementsThis press release contains statements that constitute "forward-looking statements," as such term is defined in 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 intended to be covered by the safe harbor provided by the same. These statements are based on current expectations and beliefs of the Company and are subject to a number of trends and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. The Company cannot give any assurance that these forward-looking statements will be accurate or that its expectations will be attained.About TPTTPT originates, invests in, and manages loans, securities, and assets secured by commercial real estate across the US. The company has elected to be taxed as a real estate investment trust for U.S. federal income tax purposes commencing with its taxable year ended December 31, 2016.Story continuesView source version on businesswire.com: https://www.businesswire.com/news/home/20230809498897/en/ContactsLongacre Square PartnersGreg Marose / Charlotte Kiaie, [email protected]

Business Wire

Terra Property Trust Issues Statement Regarding Terminated Transaction with Western Asset Mortgage Capital Corporation

https://finance.yahoo.com/news/terra-property-trust-issues-statement-170000037.html

3461f980-9c90-38c9-9f6d-87ba6b1ca633

WMS

HILLIARD, Ohio, Aug. 29, 2023 /PRNewswire/ -- Advanced Drainage Systems, Inc. (ADS) (NYSE: WMS), a leading provider of innovative water management solutions and one of the largest plastic recycling companies in North America, today announced that it has joined the United Nations (UN) Global Compact initiative — a voluntary leadership platform for the development, implementation and disclosure of responsible business practices.Advanced Drainage Systems, Inc. (PRNewsfoto/Advanced Drainage Systems, Inc.)Launched in 2000, the UN Global Compact is the largest corporate sustainability initiative in the world, with more than 15,000 companies and 3,800 non-business signatories based in over 160 countries, and more than 69 local networks. Joining the initiative is another step in ADS' commitment to operate its business responsibly — in alignment with universal sustainability principles, to take actions to support society, and to report annually on the company's ongoing efforts."Sustainability and protecting the environment are a core part of who we are as a company and how ADS operates its business. With this announcement, ADS is proud to join thousands of other companies worldwide committed to taking responsible business action to ensure quality of life in all communities and create the world we want," said Scott Barbour, ADS president and CEO. "At ADS, we produce the stormwater pipes, chambers and other sustainable and resilient solutions with high recycled content that capture, convey, store and treat our most precious resource: water. ADS is very much aligned with UN sustainability goals and is excited to join this global effort."The UN Global Compact is the largest corporate sustainability initiative in the world and a call to companies everywhere to align their operations and strategies with 10 universally accepted principles in the areas of human rights, labor, environment and anti-corruption, and to take action in support of UN goals and issues embodied in the Sustainable Development Goals (SDGs).Story continuesThe company has a longstanding commitment to environmental stewardship and protection. In fiscal year 2023, ADS reduced its greenhouse gas emissions intensity by 14% — the third consecutive year it cut greenhouse gas emissions intensity — and consumed 25% of recycled HDPE bottles (detergent and milk jugs, for instance) in the U.S. ADS also remains committed to the communities in which it operates. Last year, ADS contributed $4 million to charity, primarily through the ADS Foundation, which aims to lead the way for organizations and communities in preserving clean water, promoting recycling and advancing quality of life.ADS is a leading manufacturer of stormwater solutions that capture, convey, store and treat rainwater. ADS makes its products sustainably by utilizing as much recycled plastic as possible. In fact, ADS recycled more than a half a billion pounds of plastic last year, avoiding 650 million pounds of greenhouse gas emissions. Please visit the ADS profile on the UN Global Compact website and learn more about the company's latest sustainability work at www.adspipe.com/sustainability.About Advanced Drainage Systems Advanced Drainage Systems is a leading manufacturer of innovative stormwater and onsite septic wastewater solutions that manages the world's most precious resource: water. ADS and its subsidiary, Infiltrator Water Technologies, provide superior stormwater drainage and onsite septic wastewater products used in a wide variety of markets and applications including commercial, residential, infrastructure and agriculture, while delivering unparalleled customer service. ADS manages the industry's largest company-owned fleet, an expansive sales team, and a vast manufacturing network of approximately 70 manufacturing plants and 40 distribution centers. The company is one of the largest plastic recycling companies in North America, ensuring over half a billion pounds of plastic is kept out of landfills every year. Founded in 1966, ADS' water management solutions are designed to last for decades. To learn more, visit the company's website at www.adspipe.com.About the UN Global CompactAs a special initiative of the UN Secretary-General, the United Nations Global Compact is a call to companies everywhere to align their operations and strategies with Ten Principles in the areas of human rights, labor, environment and anti-corruption. Our ambition is to accelerate and scale the global collective impact of business by upholding the Ten Principles and delivering the Sustainable Development Goals through accountable companies and ecosystems that enable change. With more than 15,000 companies and 3,800 non-business signatories based in over 160 countries, and 69 Local Networks, the UN Global Compact is the world's largest corporate sustainability initiative. One Global Compact unites business for a better world. For more information, follow @globalcompact on social media and visit our website at unglobalcompact.org.CisionView original content to download multimedia:https://www.prnewswire.com/news-releases/advanced-drainage-systems-joins-the-un-global-compact-301912866.htmlSOURCE Advanced Drainage Systems, Inc.

PR Newswire

Advanced Drainage Systems Joins the UN Global Compact

https://finance.yahoo.com/news/advanced-drainage-systems-joins-un-171800954.html

50798b3c-f2a8-38cc-babe-bc8c8d7e5c24

WMS

Key InsightsThe projected fair value for Advanced Drainage Systems is US$98.08 based on 2 Stage Free Cash Flow to EquityAdvanced Drainage Systems' US$130 share price signals that it might be 33% overvalued Analyst price target for WMS is US$148, which is 51% above our fair value estimateToday we'll do a simple run through of a valuation method used to estimate the attractiveness of Advanced Drainage Systems, Inc. (NYSE:WMS) as an investment opportunity by taking the expected future cash flows and discounting them to their present value. This will be done using the Discounted Cash Flow (DCF) model. Believe it or not, it's not too difficult to follow, as you'll see from our example!Companies can be valued in a lot of ways, so we would point out that a DCF is not perfect for every situation. Anyone interested in learning a bit more about intrinsic value should have a read of the Simply Wall St analysis model. View our latest analysis for Advanced Drainage Systems The ModelWe're using the 2-stage growth model, which simply means we take in account two stages of company's growth. In the initial period the company may have a higher growth rate and the second stage is usually assumed to have a stable growth rate. To start off with, we need to estimate the next ten years of cash flows. Where possible we use analyst estimates, but when these aren't available we extrapolate the previous free cash flow (FCF) from the last estimate or reported value. We assume companies with shrinking free cash flow will slow their rate of shrinkage, and that companies with growing free cash flow will see their growth rate slow, over this period. We do this to reflect that growth tends to slow more in the early years than it does in later years.A DCF is all about the idea that a dollar in the future is less valuable than a dollar today, and so the sum of these future cash flows is then discounted to today's value:10-year free cash flow (FCF) estimate2024202520262027202820292030203120322033 Levered FCF ($, Millions) US$436.2mUS$452.5mUS$466.1mUS$478.9mUS$491.3mUS$503.3mUS$515.1mUS$526.9mUS$538.8mUS$550.8mGrowth Rate Estimate SourceAnalyst x2Analyst x2Est @ 3.01%Est @ 2.75%Est @ 2.57%Est @ 2.44%Est @ 2.36%Est @ 2.29%Est @ 2.25%Est @ 2.22% Present Value ($, Millions) Discounted @ 8.0% US$404US$388US$370US$352US$334US$317US$300US$285US$269US$255("Est" = FCF growth rate estimated by Simply Wall St)Present Value of 10-year Cash Flow (PVCF) = US$3.3bStory continuesAfter calculating the present value of future cash flows in the initial 10-year period, we need to calculate the Terminal Value, which accounts for all future cash flows beyond the first stage. For a number of reasons a very conservative growth rate is used that cannot exceed that of a country's GDP growth. In this case we have used the 5-year average of the 10-year government bond yield (2.2%) to estimate future growth. In the same way as with the 10-year 'growth' period, we discount future cash flows to today's value, using a cost of equity of 8.0%.Terminal Value (TV)= FCF2033 × (1 + g) ÷ (r – g) = US$551m× (1 + 2.2%) ÷ (8.0%– 2.2%) = US$9.6bPresent Value of Terminal Value (PVTV)= TV / (1 + r)10= US$9.6b÷ ( 1 + 8.0%)10= US$4.4bThe total value, or equity value, is then the sum of the present value of the future cash flows, which in this case is US$7.7b. The last step is to then divide the equity value by the number of shares outstanding. Compared to the current share price of US$130, the company appears reasonably expensive at the time of writing. The assumptions in any calculation have a big impact on the valuation, so it is better to view this as a rough estimate, not precise down to the last cent.dcfImportant AssumptionsThe calculation above is very dependent on two assumptions. The first is the discount rate and the other is the cash flows. If you don't agree with these result, have a go at the calculation yourself and play with the assumptions. The DCF also does not consider the possible cyclicality of an industry, or a company's future capital requirements, so it does not give a full picture of a company's potential performance. Given that we are looking at Advanced Drainage Systems as potential shareholders, the cost of equity is used as the discount rate, rather than the cost of capital (or weighted average cost of capital, WACC) which accounts for debt. In this calculation we've used 8.0%, which is based on a levered beta of 1.172. Beta is a measure of a stock's volatility, compared to the market as a whole. We get our beta from the industry average beta of globally comparable companies, with an imposed limit between 0.8 and 2.0, which is a reasonable range for a stable business.SWOT Analysis for Advanced Drainage SystemsStrengthEarnings growth over the past year exceeded the industry.Debt is well covered by earnings and cashflows.WeaknessEarnings growth over the past year is below its 5-year average.Dividend is low compared to the top 25% of dividend payers in the Building market.Expensive based on P/E ratio and estimated fair value.OpportunityAnnual earnings are forecast to grow for the next 3 years.ThreatAnnual earnings are forecast to grow slower than the American market.Next Steps:Valuation is only one side of the coin in terms of building your investment thesis, and it shouldn't be the only metric you look at when researching a company. DCF models are not the be-all and end-all of investment valuation. Instead the best use for a DCF model is to test certain assumptions and theories to see if they would lead to the company being undervalued or overvalued. For example, changes in the company's cost of equity or the risk free rate can significantly impact the valuation. Why is the intrinsic value lower than the current share price? For Advanced Drainage Systems, we've compiled three pertinent factors you should look at:Risks: For example, we've discovered 2 warning signs for Advanced Drainage Systems that you should be aware of before investing here.Management:Have insiders been ramping up their shares to take advantage of the market's sentiment for WMS's future outlook? Check out our management and board analysis with insights on CEO compensation and governance factors.Other High Quality Alternatives: Do you like a good all-rounder? Explore our interactive list of high quality stocks to get an idea of what else is out there you may be missing!PS. Simply Wall St updates its DCF calculation for every American stock every day, so if you want to find the intrinsic value of any other stock just search 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.

Does This Valuation Of Advanced Drainage Systems, Inc. (NYSE:WMS) Imply Investors Are Overpaying?

https://finance.yahoo.com/news/does-valuation-advanced-drainage-systems-125504055.html

3d74309c-edca-3ee9-81d9-b99c85270392

WMT

The two retail giants are taking different approaches to serving more customers and being able to offer more products.Continue reading

TheStreet.com

Walmart and Amazon both make customer-friendly changes

https://finance.yahoo.com/m/2a4a3346-1a2a-3953-aa17-e964a2da761f/walmart-and-amazon-both-make.html

2a4a3346-1a2a-3953-aa17-e964a2da761f

WMT

The warehouse club made it very clear that it might not have cool tech, but it has something its rivals can't match.Continue reading

TheStreet.com

Why Costco is a better deal than Kroger, Target, and Walmart

https://finance.yahoo.com/m/bb1924e4-4772-3466-a3c4-8b927c4d656e/why-costco-is-a-better-deal.html

bb1924e4-4772-3466-a3c4-8b927c4d656e

WOLF

Transaction will allow Wolfspeed to focus on U.S. capacity expansion to support silicon carbide power device and materials businessesDURHAM, N.C., August 22, 2023--(BUSINESS WIRE)--Wolfspeed, Inc. (NYSE: WOLF) today announced that Wolfspeed has entered into a definitive agreement to sell its radio frequency business (Wolfspeed RF) to MACOM Technology Solutions Holdings, Inc. (Nasdaq: MTSI) for approximately $75 million in cash, subject to a customary purchase price adjustment, and 711,528 shares of MACOM common stock, valued at $50 million based on the 30 trading day average for MACOM’s common stock through August 21, 2023. The company expects to close the transaction by the end of this year."Given the significant growth we’ve seen in automotive, industrial and renewable energy markets, we believe this is the right time to further focus on scaling our Power device and materials businesses to meet this accelerated demand," said Wolfspeed President and CEO Gregg Lowe. "This transaction also represents a tremendous opportunity for our RF team to grow and operate at scale, leveraging MACOM’s diverse customer base, RF engineering leadership and operational efficiencies."Wolfspeed RF’s technology and innovation engine drives a strong product development pipeline, with deep domain expertise supporting a competitive gallium nitride (GaN) on silicon carbide product portfolio optimized for next generation telecommunications infrastructure, military and other commercial applications. Leveraging MACOM’s diverse customer base and operational expertise, Wolfspeed RF will be well positioned to continue to deliver industry leading products at scale.The transaction is subject to the expiration of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 ("HSR") and satisfaction of customary closing conditions. MACOM will assume control of Wolfspeed’s 100mm GaN wafer fabrication facility in Research Triangle Park, North Carolina (the "RTP Fab") approximately two years following the closing of the transaction to accommodate Wolfspeed’s relocation of certain production equipment. Prior to such transfer, the shares of MACOM’s stock that Wolfspeed receives at closing will be subject to restrictions on transfer.Story continuesIn connection with the transaction, J.P. Morgan Securities LLC is acting as financial advisor and Smith Anderson LLP is acting as legal advisor to Wolfspeed.Business OutlookBased on the agreement to sell Wolfspeed RF, the operations of the RF business will be classified as discontinued operations. As a result, Wolfspeed is updating its guidance to reflect continuing operations only.For its first quarter of fiscal 2024, Wolfspeed targets revenue from continuing operations in a range of $185 million to $205 million. GAAP net loss from continuing operations is slightly improved from our August 16, 2023 business outlook, and is targeted at $138 million to $163 million, or $1.10 to $1.30 per diluted share. Non-GAAP net loss from continuing operations remains unchanged from our August 16, 2023 business outlook, and remains targeted at $75 million to $94 million, or $0.60 to $0.75 per diluted share. Targeted non-GAAP net loss from continuing operations excludes $63 million to $69 million of estimated expenses, net of tax, related to stock-based compensation expense, amortization of debt issuance costs, net of capitalized interest, project, transformation and transaction costs and loss on Wafer Supply Agreement.About Wolfspeed, Inc.Wolfspeed (NYSE: WOLF) leads the market in the worldwide adoption of silicon carbide and GaN technologies. We provide industry-leading solutions for efficient energy consumption and a sustainable future. Wolfspeed’s product families include silicon carbide and GaN materials, power devices and RF devices targeted for various applications such as electric vehicles, fast charging, 5G, renewable energy and storage, and aerospace and defense. We unleash the power of possibilities through hard work, collaboration and a passion for innovation. Learn more at www.wolfspeed.com.About MACOM Technology Solutions Holdings, Inc.MACOM (Nasdaq: MTSI) designs and manufactures high-performance semiconductor products for the Telecommunications, Industrial and Defense and Datacenter industries. MACOM services over 6,000 customers annually with a broad product portfolio that incorporates RF, Microwave, Analog and Mixed Signal and Optical semiconductor technologies. MACOM has achieved certification to the IATF16949 automotive standard, the ISO9001 international quality standard and the ISO14001 environmental management standard. MACOM operates facilities across the United States, Europe, Asia and is headquartered in Lowell, Massachusetts. To learn more visit www.macom.com.Non-GAAP Financial MeasuresThis press release includes Wolfspeed’s business outlook on both a GAAP and a non-GAAP basis. The GAAP results include certain costs, charges and expenses that are excluded from non-GAAP results. By publishing the non-GAAP targets, management intends to provide investors with additional information to further analyze Wolfspeed’s performance, core results and underlying trends. Wolfspeed's management evaluates results and makes operating decisions using both the GAAP and non-GAAP measures included in this press release. Investors and potential investors are encouraged to review the reconciliation of non-GAAP targets to the most directly comparable GAAP targets attached to this press release.Forward Looking StatementsThis press release contains forward-looking statements involving risks and uncertainties, both known and unknown, that may cause Wolfspeed’s actual results to differ materially from those indicated in the forward-looking statements. Forward-looking statements by their nature address matters that are, to different degrees, uncertain, such as statements about the anticipated benefits of the transaction, including future financial and operating results. Actual results, including with respect to Wolfspeed’s ability to complete the transaction on time or at all, Wolfspeed’s realization of the value of MACOM’s stock received in connection with the transaction, the continued growth of Wolfspeed’s power products business, and Wolfspeed’s ability to achieve its targets for the first quarter of fiscal 2024 could differ materially due to a number of factors, including risks associated with divestiture transactions generally, including the inability to obtain, or the delay in obtaining, HSR clearance; fluctuations in the market price of MACOM’s common stock; the risk that a portion of the shares of MACOM common stock are forfeited by Wolfspeed in the event that the transfer of the RTP fab is not completed within four years following the closing date; issues, delays or complications in completing required carve-out activities to allow Wolfspeed RF to operate as part of MACOM after the closing, including incurring unanticipated costs to complete such activities; risks associated with integration or transition of the operations, systems and personnel of Wolfspeed RF, each, as applicable, within the term of the post-closing transition services agreement between MACOM and Wolfspeed; unfavorable reaction to the sale by customers, competitors, suppliers and employees; the risk that costs associated with the transaction will be greater than Wolfspeed expects; ongoing uncertainty in global economic and geopolitical conditions, including the ongoing military conflict between Russia and Ukraine, infrastructure development or customer or industrial demand that could negatively affect product demand, including as a result of an economic slowdown or recession, collectability of receivables and other related matters as consumers and businesses may defer purchases or payments, or default on payments; risks associated with Wolfspeed’s expansion plans, including design and construction delays and cost overruns, timing and amount of government incentives actually received, issues in installing and qualifying new equipment and ramping production, poor production process yields and quality control, and potential increases to Wolfspeed’s restructuring costs; the risk that Wolfspeed does not meet its production commitments to those customers who provide it with capacity reservation deposits or similar payments; the risk that Wolfspeed may experience production difficulties that preclude it from shipping sufficient quantities to meet customer orders or that result in higher production costs, lower yields and lower margins; Wolfspeed’s ability to lower costs; the risk that Wolfspeed’s results will suffer if it is unable to balance fluctuations in customer demand and capacity, including bringing on additional capacity on a timely basis to meet customer demand; the risk that longer manufacturing lead times may cause customers to fulfill their orders with a competitor's products instead; product mix; risks associated with the ramp-up of production of new products, and Wolfspeed’s entry into new business channels different from those in which it has historically operated; Wolfspeed’s ability to convert customer design-ins to sales of significant volume, and, if customer design-in activity does result in such sales, when such sales will ultimately occur and what the amount of such sales will be; the risk that the economic and political uncertainty caused by the tariffs imposed by the United States on Chinese goods, and corresponding Chinese tariffs and currency devaluation in response, may negatively impact demand for Wolfspeed’s products; the risk that Wolfspeed or its channel partners are not able to develop and expand customer bases and accurately anticipate demand from end customers, which can result in increased inventory and reduced orders as Wolfspeed experiences wide fluctuations in supply and demand; risks related to international sales and purchases; risks resulting from the concentration of business among few customers, including the risk that customers may reduce or cancel orders or fail to honor purchase commitments; the risk that Wolfspeed’s investments may experience periods of significant market value and interest rate volatility causing it to recognize fair value losses on its investment; the risk posed by managing an increasingly complex supply chain (including managing the impacts of ongoing supply constraints in the semiconductor industry and meeting purchase commitments under take-or-pay arrangements with certain suppliers) that has the ability to supply a sufficient quantity of raw materials, subsystems and finished products with the required specifications and quality; risks relating to the ongoing COVID-19 pandemic, including the risk of disruptions to Wolfspeed’s operations, supply chain, including our contract manufacturers, or customer demand; the risk Wolfspeed may be required to record a significant charge to earnings if its remaining goodwill or amortizable assets become impaired; risks relating to confidential information theft or misuse, including through cyber-attacks or cyber intrusion; Wolfspeed’s ability to complete development and commercialization of products under development; the rapid development of new technology and competing products that may impair demand or render Wolfspeed’s products obsolete; the potential lack of customer acceptance for Wolfspeed’s products; risks associated with ongoing litigation; the risk that customers do not maintain their favorable perception of Wolfspeed’s brand and products, resulting in lower demand for its products; the risk that Wolfspeed’s products fail to perform or fail to meet customer requirements or expectations, resulting in significant additional costs; risks associated with strategic transactions; and other factors discussed in Wolfspeed’s filings with the Securities and Exchange Commission (SEC), including Wolfspeed report on Form 10-K for the fiscal year ended June 26, 2022, and subsequent reports filed with the SEC. These forward-looking statements represent Wolfspeed's judgment as of the date of this release. Except as required under the U.S. federal securities laws and the rules and regulations of the SEC, Wolfspeed disclaims any intent or obligation to update any forward-looking statements after the date of this release, whether as a result of new information, future events, developments, changes in assumptions or otherwise.WOLFSPEED, INC.Business Outlook Unaudited GAAP to Non-GAAP ReconciliationThree Months Ended(in millions of U.S. Dollars)September 24, 2023GAAP net loss from continuing operations outlook range($163) to ($138)Adjustments:Stock-based compensation expense18Amortization of debt issuance costs, net of capitalized interest8Project, transformation and transaction costs8Loss on Wafer Supply Agreement6Total adjustments to GAAP net loss from continuing operations before provision for income taxes40Income tax adjustment29 to 23Non-GAAP net loss from continuing operations outlook range($94) to ($75)Wolfspeed® is a registered trademark of Wolfspeed, Inc.View source version on businesswire.com: https://www.businesswire.com/news/home/20230822071507/en/ContactsWolfspeed Investor Relations Contact:Tyler GronbachWolfspeed, Inc.VP, External AffairsPhone: [email protected] Media Contact:Melinda WalkerWolfspeed, Inc.Director, Corporate CommunicationsPhone: [email protected]

Business Wire

Wolfspeed to Sell RF Business to MACOM for $125 Million

https://finance.yahoo.com/news/wolfspeed-sell-rf-business-macom-100000463.html

966e7d99-0b72-358c-9a1c-205ff2455484

WOLF

DURHAM, N.C., August 29, 2023--(BUSINESS WIRE)--Wolfspeed, Inc. (NYSE: WOLF), the global leader in silicon carbide technology, today announced that Gregg Lowe, chief executive officer, will be participating in fireside chats at two upcoming investor conferences in September:2023 Citi Global Technology and GEMS Conference at 1:45 pm ET on September 6, 2023.2023 Evercore ISI Semiconductor & Semiconductor Equipment Conference at 8:00 am ET on September 7, 2023.A live webcast of the presentations will be available on the Investor section of Wolfspeed’s website. To access the webcasts, please visit https://investor.wolfspeed.com/events-and-presentations/.About Wolfspeed, Inc.Wolfspeed (NYSE: WOLF) leads the market in the worldwide adoption of silicon carbide and GaN technologies. We provide industry-leading solutions for efficient energy consumption and a sustainable future. Wolfspeed’s product families include silicon carbide and GaN materials, power devices and RF devices targeted for various applications such as electric vehicles, fast charging, 5G, renewable energy and storage, and aerospace and defense. We unleash the power of possibilities through hard work, collaboration and a passion for innovation. Learn more at www.wolfspeed.com.Twitter: @Wolfspeed LinkedIn: @WolfspeedWolfspeed® is a registered trademark of Wolfspeed, Inc.View source version on businesswire.com: https://www.businesswire.com/news/home/20230829974092/en/ContactsMedia Relations: Melinda WalkerDirector, Corporate [email protected] Relations: Tyler GronbachVP, External [email protected]

Business Wire

Wolfspeed To Participate in Upcoming Investor Conferences

https://finance.yahoo.com/news/wolfspeed-participate-upcoming-investor-conferences-120000238.html

f4bb3d41-dbf0-3f81-9fe9-a1370cf1cabe

WOW

WideOpenWest, Inc. (NYSE:WOW), is not the largest company out there, but it saw significant share price movement during recent months on the NYSE, rising to highs of US$8.88 and falling to the lows of US$7.38. Some share price movements can give investors a better opportunity to enter into the stock, and potentially buy at a lower price. A question to answer is whether WideOpenWest's current trading price of US$7.51 reflective of the actual value of the small-cap? Or is it currently undervalued, providing us with the opportunity to buy? Let’s take a look at WideOpenWest’s outlook and value based on the most recent financial data to see if there are any catalysts for a price change. View our latest analysis for WideOpenWest What's The Opportunity In WideOpenWest?Good news, investors! WideOpenWest is still a bargain right now. According to my valuation, the intrinsic value for the stock is $10.14, which is above what the market is valuing the company at the moment. This indicates a potential opportunity to buy low. However, given that WideOpenWest’s share is fairly volatile (i.e. its price movements are magnified relative to the rest of the market) this could mean the price can sink lower, giving us another chance to buy in the future. This is based on its high beta, which is a good indicator for share price volatility.What kind of growth will WideOpenWest generate?earnings-and-revenue-growthFuture outlook is an important aspect when you’re looking at buying a stock, especially if you are an investor looking for growth in your portfolio. Although value investors would argue that it’s the intrinsic value relative to the price that matter the most, a more compelling investment thesis would be high growth potential at a cheap price. In the upcoming year, WideOpenWest's earnings are expected to increase by 60%, indicating a highly optimistic future ahead. This should lead to more robust cash flows, feeding into a higher share value.What This Means For YouAre you a shareholder? Since WOW is currently undervalued, it may be a great time to increase your holdings in the stock. With an optimistic outlook on the horizon, it seems like this growth has not yet been fully factored into the share price. However, there are also other factors such as financial health to consider, which could explain the current undervaluation.Story continuesAre you a potential investor? If you’ve been keeping an eye on WOW for a while, now might be the time to enter the stock. Its prosperous future outlook isn’t fully reflected in the current share price yet, which means it’s not too late to buy WOW. But before you make any investment decisions, consider other factors such as the track record of its management team, in order to make a well-informed investment decision.In light of this, if you'd like to do more analysis on the company, it's vital to be informed of the risks involved. For example, we've discovered 1 warning sign that you should run your eye over to get a better picture of WideOpenWest.If you are no longer interested in WideOpenWest, you can use our free platform to see our list of over 50 other stocks with a high growth potential.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 WideOpenWest, Inc. (NYSE:WOW) Potentially Undervalued?

https://finance.yahoo.com/news/wideopenwest-inc-nyse-wow-potentially-170439026.html

07e6007f-128e-32d9-b70e-913ba95b2f11

WOW

ENGLEWOOD, Colo., Sept. 7, 2023 /PRNewswire/ --  WOW! Internet, TV & Phone (NYSE: WOW), a leading broadband services provider, today announced it has begun construction in Michigan to bring its reliable, state-of-the-art, all-IP fiber network to consumers in Livingston, Genesee and Oakland counties in the coming months. The company expects to add more than 80,000 new homes in Michigan, increasing the number of targeted homes passed as part of the Greenfield expansion initiative to 260,000, towards its goal of passing more than 400,000 new homes by 2027.WOW! (PRNewsfoto/WideOpenWest, Inc.)The addition of these communities is part of the company's larger Greenfield initiative with the most recent build-outs occurring in Central Florida and Greenville County, South Carolina, which are well underway and showing strong results. Preliminary work has begun in these new Michigan areas to bring WOW!'s state-of-the-art services and exceptional customer service to residents and businesses seeking more flexible and reliable broadband access. The first communities to benefit from WOW!'s all-fiber network expansion include Brighton, Milford, Commerce Township, Wixom and Hartland."We know how much our existing Detroit and mid-Michigan customers value the WOW! experience and how much we value our Michigan customers, so we're eager to bring our advanced fiber technology to even more residents and businesses across the Great Lakes State," said Teresa Elder, CEO of WOW!. "We're excited to offer a new choice in broadband providers and deliver the best service and customer experience to more Michigan communities."Once launched, residents and businesses in these communities will experience WOW!'s all-fiber network and can subscribe to fiber services, including residential symmetrical Internet speeds up to 5 Gbps. WOW! will also offer YouTube TV, one of the most popular and robust live TV video services available with NFL Sunday Ticket, now exclusively offered by YouTube and YouTube TV, along with interactive features such as the ability to catch up with key plays, multiview, check out real-time stats, and more.Story continuesAdditionally, subscribers will receive the necessary equipment upfront to get started on WOW!'s reliable, high-speed network along with the latest advanced WiFi 6E technology at no extra cost, unlimited data, and no annual contracts. Among its suite of products, WOW! also offers reliable home phone plans, WOW! mobile powered by Reach, and flexible, comprehensive solutions for businesses."WOW! is a leading broadband provider in Michigan and we are thrilled they are bringing their high-speed fiber network to our community that is looking for a new choice in a reliable internet provider that fits budgets and needs," said Larry Gray, Commerce Township Supervisor. "We look forward to WOW! joining our community!"To learn more about WOW!, and to find out if its services are available in your area, please visit www.wowway.com.About WOW! Internet, TV & PhoneWOW! is one of the nation's leading broadband providers, with an efficient and high-performing network that passes nearly 2 million residential, business and wholesale consumers. WOW! provides services in 15 markets, primarily in the Midwest and Southeast, including Michigan, Alabama, Tennessee, South Carolina, Georgia and Florida, including the new all-fiber network in Central Florida. With an expansive portfolio of advanced services, including high-speed Internet services, cable TV, home phone, mobile phone, business data, voice, and cloud services, the company is dedicated to providing outstanding service at affordable prices. WOW! also serves as a leader in exceptional human resources practices, having been recognized 10 times by the National Association for Business Resources as a Best & Brightest Company to Work For in the Nation, winning the award for the last six consecutive years and making the 2022 Top 101 National Winners list. Visit wowway.com for more information.CisionView original content to download multimedia:https://www.prnewswire.com/news-releases/wow-will-bring-its-reliable-high-speed-all-fiber-network-to-several-new-michigan-communities-301920628.htmlSOURCE WideOpenWest, Inc.

PR Newswire

WOW! Will Bring Its Reliable, High-speed, All Fiber Network to Several New Michigan Communities

https://finance.yahoo.com/news/wow-bring-reliable-high-speed-130000009.html

b564e163-1734-3a10-947a-df8c8e551894