Sharp investment – Sharp TH http://sharp-th.com/ Tue, 20 Jul 2021 12:45:13 +0000 en-US hourly 1 https://wordpress.org/?v=5.7.2 https://sharp-th.com/wp-content/uploads/2021/07/icon-2021-07-02T222002.614-150x150.png Sharp investment – Sharp TH http://sharp-th.com/ 32 32 Sharp joins Via Licensing’s 4G multigenerational patent pool https://sharp-th.com/sharp-joins-via-licensings-4g-multigenerational-patent-pool/ https://sharp-th.com/sharp-joins-via-licensings-4g-multigenerational-patent-pool/#respond Tue, 20 Jul 2021 12:30:00 +0000 https://sharp-th.com/sharp-joins-via-licensings-4g-multigenerational-patent-pool/ New Licensee Demonstrates Continuing Dynamics of Via’s Wireless Collaborative Licensing Programs SAN FRANCISCO, July 20, 2021 (GLOBE NEWSWIRE) – Via Licensing Corporation, the leader in collaborative licensing, today announced that Sharp has joined the essential patent license program of the 4G Multigenerational Wireless 4G Standard as a licensee license. “Sharp’s addition to Via’s wireless patent […]]]>

New Licensee Demonstrates Continuing Dynamics of Via’s Wireless Collaborative Licensing Programs

SAN FRANCISCO, July 20, 2021 (GLOBE NEWSWIRE) – Via Licensing Corporation, the leader in collaborative licensing, today announced that Sharp has joined the essential patent license program of the 4G Multigenerational Wireless 4G Standard as a licensee license.

“Sharp’s addition to Via’s wireless patent program demonstrates the continued market demand for our comprehensive and transparent licensing solutions,” said Joe Siino, president of Via Licensing. “Developers around the world value Via’s expertise in addressing the range of challenges and opportunities when deploying critical wireless technologies.

Via’s 4G-MG Multi-Party Patent Licensing Program provides product manufacturers with a fair, transparent and cost-effective license for all 3G (W-CDMA) and 4G (LTE / LTE-A / LTE Advanced Pro) essential patents of our licensors and offers innovators an effective solution to obtain a fair return on their investment in innovation.

Companies offering their LTE and W-CDMA essential patents through Via’s licensing program include Alfred Consulting, China Mobile, Conversant Wireless, Deutsche Telekom, Dolby, Fraunhofer, Godo Kaisha IP Bridge, HFI Innovation (a MediaTek subsidiary), HP Enterprise, Innovative Sonic, KDDI, KPN, Lenovo (including subsidiary Motorola Mobility), NTT DoCoMo, SK Telecom, Technology in Ariscale, Telecom Italia, TNO, Verizon, Vodafone and Wireless Innovations.

About Via Licensing Corporation
Via Licensing Corporation is a global provider of intellectual property solutions dedicated to enabling innovation in partnership with technology companies, entertainment companies and universities around the world. Via develops and manages licensing programs on behalf of highly innovative companies in markets such as audio, wireless, broadcast and automotive. Via is a wholly owned subsidiary of Dolby Laboratories, Inc., a company with over 50 years of experience in innovation. For more information on Via, please visit www.via-corp.com.

Contact
Via license
Liz weber
+1 415-645-4124
press@vialicensing.com

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Tesla Q2 shipments meet analyst estimates as chip shortage weighs in https://sharp-th.com/tesla-q2-shipments-meet-analyst-estimates-as-chip-shortage-weighs-in/ https://sharp-th.com/tesla-q2-shipments-meet-analyst-estimates-as-chip-shortage-weighs-in/#respond Fri, 02 Jul 2021 18:03:00 +0000 https://sharp-th.com/tesla-q2-shipments-meet-analyst-estimates-as-chip-shortage-weighs-in/ Shares advance after record vehicle deliveries Musk warned of shortages of crisps and materials Tesla generates 99% of Model 3, Model Y shipments Shipments of more expensive models plummet All eyes are on second quarter results July 2 (Reuters) – Tesla Inc (TSLA.O) posted record second-quarter vehicle deliveries on Friday, in line with Wall Street […]]]>
  • Shares advance after record vehicle deliveries
  • Musk warned of shortages of crisps and materials
  • Tesla generates 99% of Model 3, Model Y shipments
  • Shipments of more expensive models plummet
  • All eyes are on second quarter results

July 2 (Reuters) – Tesla Inc (TSLA.O) posted record second-quarter vehicle deliveries on Friday, in line with Wall Street estimates, with the electric car maker facing a chip shortage and relying on sales of its cheapest. models.

Tesla has weathered the global supply crisis better than traditional automakers, but CEO Elon Musk has warned of the challenges of securing chips and raw materials.

Now all eyes are on its second quarter results to see if recent declines in bitcoin prices would have a negative effect on Tesla’s results, due to Tesla’s exposure to cryptocurrency volatility.

Tesla delivered a total of 201,250 vehicles in the second quarter. Analysts expected Tesla to deliver 200,258 vehicles, according to data from Refinitiv.

“It was a solid quarter in terms of volume, but I see it as a modest disappointment,” said Garrett Nelson, equity analyst at CFRA Research.

Shares of the company edged up 0.3%, after rising 3.3% at the start of trading on Friday.

“Overall, the bulls breathe a sigh of relief with these delivery numbers,” said Dan Ives, analyst at Wedbush Securities.

Deliveries of its Model 3 sedans and Model Y crossovers, its two cheapest variants, accounted for 99% of its deliveries, offsetting lower deliveries of high-end Model S and X vehicles.

“Our teams have done an outstanding job navigating through global supply chain and logistics challenges,” Tesla said.

Tesla has raised the prices of its vehicles in recent months, which billionaire boss Elon Musk blamed in May on “pressure on prices in the supply chain”, especially raw materials. Read more

He also said in early June that “Our biggest challenge is the supply chain, especially microcontroller chips. Never seen anything like it.”

A Tesla compressor is shown at a charging station in Santa Clarita, California, United States, October 2, 2019. REUTERS / Mike Blake

Brokerage firm RBC said “the worst could be over for Tesla” with the chip shortage, but added that the potential impact on the margins of a large supply chain could linger throughout the period. year.

CHINA, MODEL S PLAID

In China, a major growth market for Tesla, the company faces large-scale recalls, increased scrutiny from regulators and the public, as well as increasing competition from local electric vehicle companies. Read more

“Demand issues were around China in April but clearly rebounded in May and June,” Ives said.

Tesla sold 21,936 Model 3 and Model Y cars to Chinese customers in May, rebounding from falling sales in April, but still well below March figures. read more Its sales in China for June will be published in the coming days.

Tesla saw deliveries of its Model S and X vehicles drop to 1,890 during the April to June period, as a new version of its Model S suffered delays before its launch in June. Read more

A Tesla Model S Plaid electric vehicle priced at $ 129,990 caught fire on Tuesday while its owner was driving, just three days after the car was delivered. The owner’s lawyer requested that the model be grounded. Tesla did not comment immediately when contacted by Reuters. Read more

BITCOINS

The sharp declines in bitcoin prices could also weigh on Tesla’s second-quarter earnings, analysts said.

On February 8, Tesla unveiled its $ 1.5 billion bitcoin investment. read more His bitcoin holdings helped generate profits in the first quarter, selling 10% of them.

But the investment also exposes Tesla shares to volatile cryptocurrency prices, which have suffered from the recent drops.

“The Tesla share price has been quite closely correlated with the price of bitcoin,” Nelson said, adding that this is hurting investor sentiment, although bitcoin is only a small portion of Tesla’s overall cash flow. .

Reporting by Hyunjoo Jin in Berkeley, CA, Akanksha Rana and Subrat Patnaik in Bengaluru; Editing by Sriraj Kalluvila, Saumyadeb Chakrabarty, Aurora Ellis and Philippa Fletcher

Our standards: Thomson Reuters Trust Principles.

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Hertz bankruptcy exit completed; new board installed https://sharp-th.com/hertz-bankruptcy-exit-completed-new-board-installed/ https://sharp-th.com/hertz-bankruptcy-exit-completed-new-board-installed/#respond Fri, 02 Jul 2021 15:35:36 +0000 https://sharp-th.com/hertz-bankruptcy-exit-completed-new-board-installed/ ESTERO, Florida – It might be hard to blame the executives of Hertz Global Holdings and the new board members if they were to shoot fireworks before the July 4 vacation. This week, Hertz announced that it has successfully completed its Chapter 11 restructuring process and has become a “financially and operationally stronger company that […]]]>
ESTERO, Florida –

It might be hard to blame the executives of Hertz Global Holdings and the new board members if they were to shoot fireworks before the July 4 vacation.

This week, Hertz announced that it has successfully completed its Chapter 11 restructuring process and has become a “financially and operationally stronger company that is well positioned for the future,” as a new board of directors from eight members take the leadership.

The company said its reorganization plan was upheld by the federal bankruptcy court on June 10, 2021. In doing so, Hertz pointed out in a press release that Judge Mary Walrath described the result as a “fantastic result” which “exceeds any outcome that I” I have seen in any Chapter 11 case that I have faced in my 20+ years.

With more than $ 5.9 billion in new equity provided by Hertz’s new investor group led by Knighthead Capital Management, Certares Opportunities and some funds managed by subsidiaries of Apollo Capital Management, Hertz noted that it had reduced its corporate debt by nearly 80% and significantly improved its liquidity to fund operations and future growth.

Specifically, Hertz said it has eliminated nearly $ 5.0 billion in debt, including all of Hertz Europe’s corporate debt.

In addition, Hertz said it emerged with a new $ 2.8 billion exit credit facility (including an unused $ 1.3 billion revolving credit facility) and a $ 1.3 billion credit facility. $ 7.0 billion asset-backed vehicles, each with terms the company considers “extremely favorable.”

The overall interest rate on the company’s new ABS financing is less than 2.0%, according to the press release.

Henry Keizer, outgoing chairman of the board of Hertz, offered this assessment of the car rental company’s journey at this point.

“In the face of the epic and unprecedented challenges presented by the COVID-19 pandemic, and unfazed by the first changes in leadership, we have remained focused on stabilizing the business and seizing opportunities to mitigate losses and create new value for our stakeholders, ”Keizer said in the press release. .

“When the economy started showing signs of recovery earlier this year, we were perfectly positioned to drive a competitive process that would maximize recoveries. The result – paying off all of our nearly $ 19 billion in creditors and returning substantial value to our shareholders – is remarkable, ”he continued.

Along with its financial restructuring, Hertz recalled that it had also executed a series of operational initiatives to create a “more focused and profitable business”.

Among these actions, Hertz noted that it:

– Launch of a cost reduction program that generates significant savings

– Adjusted its fleet in its American and international activities

– Optimized its localization footprint

– Negotiation of cost reductions and concessions on certain airport sites

– Completed the sale of its fleet rental business in Donlen for $ 891 million in cash.

In addition, Hertz went on to mention that it is focusing on changing demand through its portfolio of neighborhood rental locations to complement its airport business.

These efforts, combined with a sharp increase in car rentals in the United States and continued strength in used vehicle sales, put the company on track to achieve strong financial results in 2021, according to the president and Hertz CEO Paul Stone.

“Today marks a milestone in Hertz’s 103-year history,” Stone said in the press release released Wednesday. “Thanks to the tireless efforts of our Board of Directors and our team, we move forward in an incredibly strong position with an exciting road ahead of us.

“Now, with a strong financial base, a leaner and more efficient operating model and plenty of cash to invest in our business, Hertz has exceptional potential to generate profitable long-term growth,” he said. he continued. “In the United States and around the world, we are ready to capitalize on our industry leadership, deep operational expertise and our iconic global brand.

“I am extremely proud of all that we have accomplished and believe this is only the beginning of delivering even more value to our stakeholders,” continued Stone. “Thank you to the Hertz team around the world and the Board of Directors, to our new group of investors, who bring extensive industry experience, and to our customers, franchisees, partners and shareholders for your trust and support. throughout this process.

“We look forward to a bright future as a dynamic part of the growing travel industry and as a trusted partner for the mobility needs of our customers,” he added.

Hertz filed for Chapter 11 operations in the United States on May 22, 2020 following the onset of the COVID-19 pandemic, which had a severe and dramatic effect on travel demand.

Hertz pointed out that its major international operating regions, including Europe, Australia and New Zealand, were not included in the US Chapter 11 proceedings.

As a result of its successful restructuring process, Hertz said its creditors would receive full cash payment and existing shareholders would receive more than $ 1 billion in value.

The company said Hertz’s common stock will continue to be listed on the over-the-counter (OTC) market, until the company is re-listed on a national stock exchange.

Effective Thursday, the new ticker symbols are HTZZ for Hertz common stock and HTZZW for warrants.

White & Case LLP acts as legal advisor, Moelis & Co. as investment banker and FTI Consulting as financial advisor.

For court documents or filings, visit https://restructuring.primeclerk.com/hertz or call (877) 428-4661 or (929) 955-3421.

Hertz forms new board of directors

Now that the bankruptcy exit is complete, Hertz has also highlighted its new eight-member board with up to three additional directors to be appointed in the future. With Stone, the group currently includes:

– Certares founder Michael Gregory O’Hara, who has been appointed chairman

– Thomas Wagner, co-founder of Knighthead Capital, who has been chosen as vice-chairman

– Colin Farmer, Senior Managing Director of Certares

– Andrew Shannahan, Knighthead partner

– Partner of Apollo Christopher Lahoud

– Senior advisor to TPG Capital and former CEO of Ford Mark Fields

—Former member of the board of directors of Hertz Vincent Intrieri

“We are delighted to welcome our new board members and benefit from their collective expertise, leadership and oversight at this pivotal time for Hertz and the travel industry,” Stone said in a statement. separate press release. “These leaders bring extensive financial, operational and market experience that will be invaluable in the next chapter for Hertz.

“I would also like to express our company’s gratitude to our outgoing board members for their service and tireless efforts, especially throughout the last year and a half of the pandemic and our successful restructuring,” said added Stone.

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Edrington hails brands’ resilience despite falling sales and profits in tough year – The Moodie Davitt Report https://sharp-th.com/edrington-hails-brands-resilience-despite-falling-sales-and-profits-in-tough-year-the-moodie-davitt-report/ https://sharp-th.com/edrington-hails-brands-resilience-despite-falling-sales-and-profits-in-tough-year-the-moodie-davitt-report/#respond Fri, 02 Jul 2021 15:26:08 +0000 https://sharp-th.com/edrington-hails-brands-resilience-despite-falling-sales-and-profits-in-tough-year-the-moodie-davitt-report/ Premium spirits group Edrington this week reported a -15% year-over-year drop in revenue for the 12 months to March 31, reaching £ 576.2million. Performance was driven by the impact of COVID-19 on retail and travel channels, as well as commercial destocking in key markets. Base contribution (profit from brand sales and distribution at constant currency […]]]>

Premium spirits group Edrington this week reported a -15% year-over-year drop in revenue for the 12 months to March 31, reaching £ 576.2million. Performance was driven by the impact of COVID-19 on retail and travel channels, as well as commercial destocking in key markets.

Base contribution (profit from brand sales and distribution at constant currency and after deduction of overheads) was £ 196.5 million, down -19%, with pre-tax profit down -21% to £ 178.4million. The company invested £ 118.9million in brand-building marketing activities during the year, down 8% from a year earlier.

The sharp contraction in travel last year had an acute impact on The Macallan in the flagship duty free channel.

Edrington’s leading brand, The Macallan, saw “a significant drop in its contribution due to a sharp contraction in global travel retail, the closings of bars and restaurants and the destocking of wholesalers in the USA”.

Edrington said consumer demand has remained strong and the company has accelerated progress in new channels such as e-commerce. The brand performed well in China, Southeast Asia and Russia.

The group noted that this was a “difficult year” for the other single malts in the portfolio, Highland Park and The Glenrothes, reflecting “a competitive category, loss of retail sales and impact. tariffs in the United States ”.

The Famous Grouse “has proven to be resilient” in its main markets in Northern and Eastern Europe and has extended its leadership position, as Scotland has declared, according to Edrington.

Brugal, Edrington’s premium rum, has generated “exceptional growth” in its domestic Dominican Republic market, where the company has been able to maintain supply and visibility to consumers.

Key financial data of the Edrington Group, above and below; Click to enlarge

Managing Director Scott McCroskie said: ‘In last year’s annual report, I anticipated declining profitability after several years of steady growth, due to the coronavirus pandemic and Scottish whiskey tariffs single malt in the United States, our largest market. Our reported results confirm that this was indeed the case, although I think the relatively modest declines represent a good result under the circumstances.

“The reduction in net sales reflects the restrictions linked to the pandemic as well as the commercial destocking mainly in the United States. Our decision to maintain relatively high levels of brand investment means that base contribution has been reduced by more than net sales, although this has been mitigated by a series of cost-cutting measures. Our free cash flow and net debt both improved as a result of these measures, and I’m glad the company stayed well below its credit limits and banking covenant tests.

“The fundamentals of our business are solid and our brands are healthy. While the pandemic continues to impact our business for some time, I am encouraged by the sales growth we have seen in the first quarter of this fiscal year. I am convinced that we can meet the challenges we face and that we are ready to move forward from a position of strength. “

Edrington has agreed to take a significant minority stake in No.3 London Dry Gin, the ultra-premium gin owned by Berry Bros. & Rudd. Edrington has a long-standing partnership with BB&R, which dates back almost 100 years.

The deal will see the No.3 distributed in Edrington-owned distribution markets including the US, APAC, global retail and the Nordic countries. Berry Bros. & Rudd will continue to distribute in markets such as UK, Germany, Italy, Spain, Australia and Belgium. The companies do not disclose the financial terms of the deal.

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[PDF] Synthetic aperture radar in space sector market equilibrium to improve sharp decline in capacity growth – The Manomet Current https://sharp-th.com/pdf-synthetic-aperture-radar-in-space-sector-market-equilibrium-to-improve-sharp-decline-in-capacity-growth-the-manomet-current/ https://sharp-th.com/pdf-synthetic-aperture-radar-in-space-sector-market-equilibrium-to-improve-sharp-decline-in-capacity-growth-the-manomet-current/#respond Fri, 02 Jul 2021 14:27:20 +0000 https://sharp-th.com/pdf-synthetic-aperture-radar-in-space-sector-market-equilibrium-to-improve-sharp-decline-in-capacity-growth-the-manomet-current/ The latest version of CMI with the title Synthetic aperture radar in the space sector Market research report 2021-2027 (by product type, end user / application and regions / countries) provides an in-depth assessment of the Synthetic Aperture Radar Space Radar industry including key market trends, upcoming technologies, industry drivers, challenges, regulatory policies, company profiles […]]]>

The latest version of CMI with the title Synthetic aperture radar in the space sector Market research report 2021-2027 (by product type, end user / application and regions / countries) provides an in-depth assessment of the Synthetic Aperture Radar Space Radar industry including key market trends, upcoming technologies, industry drivers, challenges, regulatory policies, company profiles key players and strategies.

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Essential demographic, geographic, psychographic and behavioral information about business segments in the Synthetic Aperture Radar in the Space segment is targeted to aid in determining the features company should encompass in order to fit into the business requirements. For the consumer-driven market – the study is also categorized with information on market makers to better understand who the customers are, their buying behavior and their role models.

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Frugal companies always spend a lot on technology https://sharp-th.com/frugal-companies-always-spend-a-lot-on-technology/ https://sharp-th.com/frugal-companies-always-spend-a-lot-on-technology/#respond Fri, 02 Jul 2021 12:00:09 +0000 https://sharp-th.com/frugal-companies-always-spend-a-lot-on-technology/ One of the results of the coronavirus pandemic has been that the global health crisis has forced businesses at all levels to emphasize fiscal prudence. From energy companies limiting exploration and production budgets, to retailers closing stores and many, many others cutting staff, cutting expenses was the name of the game for a substantial part […]]]>

One of the results of the coronavirus pandemic has been that the global health crisis has forced businesses at all levels to emphasize fiscal prudence.

From energy companies limiting exploration and production budgets, to retailers closing stores and many, many others cutting staff, cutting expenses was the name of the game for a substantial part of the year. 2020.

A recent survey from consulting giant McKinsey indicates that 43% have cut fixed costs and 29% have reduced physical locations.

While some businesses remain cautious about spending, one area they can’t afford to be too frugal with is technology.

“One obvious area where companies resisted the cautious approach to spending was in technology. The increase in working from home, along with renewed concerns about cybercrime and a continued shift towards online shopping, has resulted in a sharp increase in technology investments ”, writes Mark Hackett of Nationwide. “Almost two-thirds of those polled in the McKinsey survey noted an increase in funding for technology initiatives, while only 7% cut technology spending. Likewise, 44% of companies increased their tech-focused workforce, compared to 11% that cut technical staff. “

Due to a wave of recent cyber attacks, it’s reasonable to expect more businesses to increase their cybersecurity spending. In addition, the growth of remote working fueled by the pandemic is expected to lead to increased spending in the already booming cloud computing arena.

For investors, these points are relevant because, for example, cloud computing and cybersecurity are not areas that companies can afford to be cheap. A series of recent lessons prove that being careful can actually be stupid.

“While the unusual nature of the past year has significantly influenced this data, there are clear signals as to the direction of the economy and potential beneficiaries in the stock market,” Hackett adds. “The tech sector has proven to be critically important to the economy in times of stress, and spending in this area has been mostly sustainable in recessionary environments. Since the financial crisis, the tech sector has outperformed the S&P 500® Index at large by almost 500% cumulative (1,020% vs. 530%).

To learn more about income strategies, visit our Retirement Income Channel.

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Top 5 dynamic stocks for July amid a strong Wall Street rally https://sharp-th.com/top-5-dynamic-stocks-for-july-amid-a-strong-wall-street-rally/ https://sharp-th.com/top-5-dynamic-stocks-for-july-amid-a-strong-wall-street-rally/#respond Fri, 02 Jul 2021 11:19:00 +0000 https://sharp-th.com/top-5-dynamic-stocks-for-july-amid-a-strong-wall-street-rally/ Wall Street has completed an impressive first half of 2021, after a meteoric run in 2020, despite the pandemic. The three major stock indexes – the Dow, S&P and Nasdaq Composite – rose 12.7%, 14.4% and 12.5% ​​respectively in the first half of 2021. National COVID-19 vaccinations, a sharp drop in new coronavirus cases, a […]]]>

Wall Street has completed an impressive first half of 2021, after a meteoric run in 2020, despite the pandemic. The three major stock indexes – the Dow, S&P and Nasdaq Composite – rose 12.7%, 14.4% and 12.5% ​​respectively in the first half of 2021.

National COVID-19 vaccinations, a sharp drop in new coronavirus cases, a faster-than-expected reopening of the economy, an unprecedented fiscal stimulus, the Fed’s ongoing easy money policy and the reiteration of the Inflation by the Fed chairman being transient despite the increase in inflation forecasts for 2021, has significantly boosted market participants’ confidence in risky assets like stocks.

This scenario should prevail in the short term and boost equities. Dynamic investing requires continuous valuation of stocks, ensuring that an investor does not choose a beaten name or forget a flourishing name. Dynamic investors buy high with the expectation that a stock will only rise in the short to medium term.

CBO raises its economic outlook

The Congressional Budget Office (CBO) raised its outlook for the U.S. GDP growth rate in 2021 to 7.4%, a significant jump from the 4.6% forecast on February 1. Thereafter, GDP is expected to grow by around 2.8% per year until 2025.

The core PCE price index – the Fed’s preferred inflation indicator – will rise to 2.8% in 2021 from the Fed’s estimate of 3.1%. The CBO said the unemployment rate would fall to 4% in 2022. The yield on 10-year US Treasuries, which currently hovers around 1.5%, is expected to rise to 2.7% from the end of 2025.

Notably, on June 16, the Fed raised the GDP growth rate for 2021 to 7%, from 6.5% in March. The Fed has reaffirmed that the unemployment rate will drop to 4.5% by the end of 2021.

Strong projections for second quarter results

Profit estimates for the second quarter of 2021 saw positive revisions. As of June 30, total profits of the S&P 500 Index are expected to increase 61.6% year-over-year on revenues up 18.1%. Notably, the first quarter profits of the S&P 500 Index increased 49.3% year-over-year to higher earnings of 10.3%.

One of the reasons for this very high scale of profits and year-over-year revenue growth was last year’s economic devastation due to the global coronavirus outbreak. However, even if we overlook last year’s performance, our current projection of second quarter 2021 earnings for the S&P 500 Index is 9.6% higher than in the second quarter before the 2019 pandemic. know more : Second Quarter Profit Growth Reflects More Than Easy Offsets)

Strong economic data

The struggling labor market shows enough indications to return to normal. On July 1, the Ministry of Labor reported that weekly jobless claims fell from 51,000 to 364,000 for the week ended June 26, marking its lowest level for the week ended March 14, 2020. Data from the previous week were revised up to 415,000. The consensus estimate was 385,000.

However, continuing claims (those who have already received unemployment benefits) increased from 56,000 to 3.47 million for the week ended June 21. The four-week moving average (eliminating weekly volatility) for continuous claims fell from 75,000 to 3.48 million, the lowest since the week ended March 21, 2020.

The total number of Americans receiving benefits under all types of government programs declined from 180,890 to 14.66 million for the week ended June 14. However, nearly 7 million workers have yet to return to the workforce from pre-pandemic levels.

The Institute of Supply Management (ISM) said its manufacturing purchasing managers index (PMI) for June edged down to 60.6% from 61.2% in May. The consensus estimate was 60.8%. Likewise, IHS Markit reported that its June manufacturing PMI declined to 62.1% from a flash estimate of 62.6%, but remained unchanged from the May final reading.

Notably, any reading above 50 signifies an expansion in manufacturing activities while a reading above 55 signifies a strong expansion. Therefore, despite a slight drop in the readings of the ISM and IHS Markit, the US manufacturing sector remained strong in June.

Our top picks

We narrowed down our search to five large-cap stocks (market capital> $ 10 billion) that have seen strong earnings estimate revisions over the past seven to 30 days and still have a big upside for 2021. These stocks have skyrocketed by more than 35% per year. nowadays. Each of our picks carries a rank 1 of Zacks (strong buy) and has a Momentum Score by A. You can see The full list of today’s Zacks # 1 Rank stocks here.

The graph below shows the price performance of our five picks since the start of the year.

Image source: Zacks Investment Research

Continental Resources Inc. CLR explores, develops and produces crude oil and natural gas primarily in the northern, southern and eastern regions of the United States. It sells its production of crude oil and natural gas to energy marketing companies, crude oil refining companies, and natural gas gathering and processing companies.

This Zacks Rank # 1 company is forecasting a profit growth rate of over 100% for the current year. Zacks’ consensus estimate for current year earnings has improved 6% over the past seven days. The share price has climbed 145% since the start of the year.

Exxon Mobil Corp. XOM explores and produces crude oil and natural gas in the United States, Canada / other Americas, Europe, Africa, Asia and Australia / Oceania. It operates through the Upstream, Downstream and Chemicals segments.

The company has an expected profit growth rate of over 100% for the current year. Zacks’ consensus estimate for the current year has improved 0.3% over the past seven days. The share price has jumped 53.5% since the start of the year.

Freeport-McMoRan Inc. FCX is engaged in mining exploration and development; extraction and grinding of copper, gold, molybdenum and silver; as well as the smelting and refining of copper concentrates.

The company has an expected profit growth rate of over 100% for the current year. Zacks’ consensus estimate for the current year has improved 3.9% over the past 30 days. The share price has climbed 42.6% since the start of the year.

General Motors Co. GM designs, builds and sells cars, trucks, crossovers and auto parts around the world. It operates through the GM North America, GM International, Cruise and GM Financial segments.

The company has an expected earnings growth rate of 24.9% for the current year. Zacks’ consensus estimate for current year earnings has improved 15.7% in the past 30 days. The share price has appreciated 42% since the start of the year.

CarMax Inc. KMX operates as a used vehicle retailer in the United States. It operates in two segments, CarMax Sales Operations and CarMax Auto Finance.

The company has an expected profit growth rate of 42.3% for the current year (end of February 2022). Zacks’ consensus estimate for current year earnings has improved 10.7% over the past seven days. The share price has jumped 38.3% since the start of the year.

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Exxon Mobil Corporation (XOM): Free Inventory Analysis Report

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General Motors Company (GM): Free Inventory Analysis Report

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Continental Resources, Inc. (CLR): Free Stock Analysis Report

To read this article on Zacks.com, click here.

Zacks investment research

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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Making it Work: Custran plans to expand into post-Brexit customs market https://sharp-th.com/making-it-work-custran-plans-to-expand-into-post-brexit-customs-market/ https://sharp-th.com/making-it-work-custran-plans-to-expand-into-post-brexit-customs-market/#respond Fri, 02 Jul 2021 10:19:19 +0000 https://sharp-th.com/making-it-work-custran-plans-to-expand-into-post-brexit-customs-market/ Custran, the Cork-based company that helps UK and Irish businesses complete customs declarations, aims to raise up to € 500,000 in a funding round to fund expansion of its UK business. The company, created in 2017 by Kieran Gleeson and Steve Merrick, has already raised € 500,000 in recent months and is now targeting new […]]]>

Custran, the Cork-based company that helps UK and Irish businesses complete customs declarations, aims to raise up to € 500,000 in a funding round to fund expansion of its UK business.

The company, created in 2017 by Kieran Gleeson and Steve Merrick, has already raised € 500,000 in recent months and is now targeting new investments in the next four months.

Customs requirements for Irish and UK businesses are expected to tighten over the next few years due to Brexit, and Custran expects a sharp increase in the number of customs declarations processed in Ireland and the UK.

“Brexit changed everything,” Gleeson said. He explained that previously there were around 1.5 million customs declarations processed in Ireland each year. “After Brexit it is expected to rise to around 20 million,” he said.

Many companies are grappling with the challenges of the new business environment, and Gleeson, who has spent years working in freight transportation, said there was a “real lack of knowledge” about procedures. customs.

While Custran isn’t the only company offering software to businesses to help them complete customs declarations more efficiently, it is trying to carve out a niche for itself by providing industry-specific advice on how to meet new requirements.

“There are a lot of good training programs in Ireland and Britain right now, but they’re pretty general,” Gleeson said. “It’s not specific to an industry that a business may be in. We hear that directly from our customers.”

Working with a network of trainers, Custran shows businesses how to use its software to create the templates they need to accurately submit returns to the Irish Revenue Service (Ros) online and to UK Tax and Customs.

The Irish Ros system has digitized all returns since 2005, but parts of Britain still use manual processing i.e. phone calls, emails and faxes.

“Britain is still quite behind in many of its processes,” Gleeson said. “There are a lot of easements that won’t be there next year, and there are a lot of checks that will be more stringent in the future. Brexit is still ongoing.

With the growing number of permutations and requests for companies doing business between Ireland and Britain, Custran believes he is entering the market at the right time with a combination of software and “how-to” advice for business people. companies that need it.

Halfway through a roundtable, he hopes to use the additional investment to expand his marketing and sales efforts in Britain and hire a small number of new employees.

He is already supported by Enterprise Ireland and also works with Teamwork Catalyst, the Cork-based coworking space. “They have been very good to us over the past two years, in terms of mentoring and product development,” said Gleeson.

In the long term, Custran hopes to expand its operations beyond Ireland and Great Britain and into European markets including France, Germany and the Netherlands.

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UK Esports Franchise EXCEL Gets City Heavyweight Support | Economic news https://sharp-th.com/uk-esports-franchise-excel-gets-city-heavyweight-support-economic-news/ https://sharp-th.com/uk-esports-franchise-excel-gets-city-heavyweight-support-economic-news/#respond Fri, 02 Jul 2021 09:58:30 +0000 https://sharp-th.com/uk-esports-franchise-excel-gets-city-heavyweight-support-economic-news/ One of Britain’s fastest growing esports franchises has secured millions of pounds in funding from some of the city’s most prominent figures as it seeks to capitalize on the category’s booming popularity since the start of the pandemic. Sky News has learned that EXCEL ESPORTS, which participates in the high-profile League of Legends and Fortnite […]]]>

One of Britain’s fastest growing esports franchises has secured millions of pounds in funding from some of the city’s most prominent figures as it seeks to capitalize on the category’s booming popularity since the start of the pandemic.

Sky News has learned that EXCEL ESPORTS, which participates in the high-profile League of Legends and Fortnite online combat arena, will announce next week that it has raised around £ 17million to fund its expansion.

The fundraising is led by JRJ Group, which acquired a majority stake in EXCEL in 2018 alongside TOMS Capital, the family office of former hedge fund manager Noam Gottesman.

Picture:
The franchise was founded in 2014 while the category was still in its infancy. Photo: EXCEL

JRJ was established in 2008 by former Lehman Brothers executives Jeremy Isaacs and Roger Nagioff.

EXCEL’s existing investors are joined by IPGL, the private investment office of Lord Spencer, founder of ICAP and former Conservative Party treasurer.

The family office of Alan Howard, co-founder of Brevan Howard, one of the world’s most successful hedge funds, is also investing in the company, according to insiders.

City’s list of stellar names highlights the growing interest in esports as a sector, which has been fueled by IPOs of companies such as Guild Esports, which counts former footballer David Beckham among its shareholders.

EXCEL was founded in 2014, when the category was still in its infancy, by brothers Joel and Kieran Holmes-Darby.

It now has Dele Alli, the Tottenham Hotspur and former England footballer, as its ambassador, and has business partnerships with brands such as BT, Sony, Chupa Chups and Beyond NRG, which describes itself as an energy drink for games.

Excel team.  Photo: Excel
Picture:
EXCEL is ranked among the top three UK esports teams. Photo: EXCEL

The company’s profile has skyrocketed due to its status as one of the ten founding members of the League of Legends European Championship and as the subject of a TV documentary narrated by actor Cillian Murphy.

Its new funding round places a pre-silver valuation on EXCEL of nearly £ 100million, according to insiders.

TNF Investments, a private equity firm, is also participating in the increase, they added.

Relatives of London-based EXCEL have said it ranks in Britain’s top three esports teams and expects annual profit growth of 70% by 2025.

Its franchise includes British Fortnite player Jaden “Wolfiez” Ashman, who holds the Guinness World Record for the youngest person in esports history to win $ 1 million in a single event.

The team, which bears the XL brand, also participates in VALORANT, a tactical shooter.

Information provided by the company indicates that its fans are on average 32 years old and have a family income of £ 55,000, underscoring why the esports industry is attracting so much commercial interest.

It is now said that there are as many as 3,000 professional esports players in the UK.

Image by Wouter: Excel
Picture:
Wouter Sleijffers says the pieces are in place for the brand to go international. Photo: EXCEL

Wouter Sleijffers, Managing Director of EXCEL, said: “Together with our investors, I am truly delighted to enter the next chapter, building on the legacy of EXCEL and realizing our shared vision for the future. esport and gaming.

“In a very short space of time, EXCEL has established itself at the top of UK esports attracting significant support from investors, partners, our Ambassador Dele Alli and all the talent on and off stage.

“We now have all the elements in place to aim for more, to grow from a well-known name in UK esports to a diverse and internationally recognized UK gaming brand with the ability to derive maximum value from the continued expansion of the sector and the increasing digitization of consumer behavior. . “

The larger esports market is now estimated at £ 1 billion, with a global fan base of 500 million people.

The latest League of Legends final drew 44 million viewers at its peak, while researchers at Newzoo predict total esports sponsorship will have quadrupled in a four-year period through the end of 2021 for reach £ 1.1 billion.

Growth across the industry has been particularly strong during the early stages of the COVID-19[female[feminineepidemic, with most traditional live entertainment events suspended, leaving esports and other forms of gaming to fill the void for millions of consumers.

A recent report by The Business Research Company, a market researcher, predicted an increase in M&A activity in the esports industry, which remains highly fragmented.

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Changing the discourse on capital, politics and employment energy needed to reach net zero https://sharp-th.com/changing-the-discourse-on-capital-politics-and-employment-energy-needed-to-reach-net-zero/ https://sharp-th.com/changing-the-discourse-on-capital-politics-and-employment-energy-needed-to-reach-net-zero/#respond Fri, 02 Jul 2021 09:07:20 +0000 https://sharp-th.com/changing-the-discourse-on-capital-politics-and-employment-energy-needed-to-reach-net-zero/ Source: IRENA Forward-looking policies can accelerate the transition, reduce uncertainties and ensure the maximum benefits from the energy transition. This is the message of the last IRENA Prospects for global energy transitions. The report stresses that sharp adjustments in capital flows and a shift in investment are needed to align energy on a positive economic […]]]>
Source: IRENA

Forward-looking policies can accelerate the transition, reduce uncertainties and ensure the maximum benefits from the energy transition. This is the message of the last IRENA Prospects for global energy transitions.

The report stresses that sharp adjustments in capital flows and a shift in investment are needed to align energy on a positive economic and environmental trajectory. The average annual investment of $ 4.4 trillion required is high. “But it is doable and is equivalent to around 5% of global GDP in 2019,” the report says.

Francesco La Camera, Director General of IRENA, said: “This perspective represents a concrete and practical toolbox for a total reorientation of the global energy system and writes a new positive energy narrative as the sector undergoes a dynamic transition. “

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Developments in investment and capital markets

IRENA’s outlook sees the energy transition as a great business opportunity for multiple stakeholders, including the private sector, by shifting financing from equity to private debt capital.

The latter will increase from 44% in 2019 to 57% in 2050, an increase of almost 20% compared to the planned policies. Energy transition technologies will find it easier to obtain affordable long-term debt financing in the years to come, while fossil fuel-related assets will increasingly be shunned by private financiers and therefore forced to rely on on equity financing from retained earnings and new equity issues.

But public financing will remain crucial for a rapid, fair and inclusive energy transition and for catalyzing private financing. In 2019, the public sector provided some $ 450 billion through public capital and loans from development finance institutions. In IRENA’s 1.5 ° C scenario, these investments will almost double to some $ 780 billion. Public debt financing will be an important enabler for other lenders, especially in developing markets.

Perspectives on Coal, Oil and Gas

The phasing out of coal, limiting investment in oil and gas to facilitate rapid decline and managed transition as well as the adoption of technological, policy and trade solutions will put the global energy system on the right track for a trajectory. 1.5 ° C.

By 2050, a total of $ 33 trillion in additional investment is needed in efficiency, renewables, end-use electrification, power grids, flexibility, hydrogen and innovations. The benefits, however, far outweigh the costs of the investments.

When air pollution, human health and climate change externalities are taken into account, the return on investment is even higher, with every dollar spent on the energy transition adding benefits valued between $ 2 and $ 5.5 , in cumulative terms between $ 61 trillion and $ 164 trillion by mid-century.

Did you read?
New renewable projects cheaper to build and operate than coal-fired power plants

Political orientation can change the discourse on energy

Fair and integrated policies will remain imperative to realize the full potential of the energy transition.

As markets alone are not likely to move fast enough, policymakers must incentivize but also take action to eliminate market distortions that favor fossil fuels and facilitate necessary changes in financing structures.

This will involve phasing out fossil fuel subsidies and changing tax systems to reflect the negative environmental, health and social costs of fossil fuels. Monetary and fiscal policies, including carbon pricing policies, will improve competitiveness and level the playing field.

Enhanced international cooperation and a comprehensive set of policies will be essential to drive the broader structural change towards resilient economies and societies. If not well managed, the energy transition risks inequitable results, two-track development and an overall slowdown in progress.

Today’s policies, finances and socio-economic analysis complement the technological avenues outlined for a 1.5 ° C compatible energy pathway, providing policy makers with a guide to achieving optimal results from the transition.

Launched by energy leaders at the Agency High Level Global Forum on Energy Transition, this Outlook aims to elevate ambition towards the UN High Level Dialogue on Energy and Climate COP26 later this year.

Read the whole Prospects for global energy transitions.

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