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Showing posts with label 2017 at 04:57PM. Show all posts
Showing posts with label 2017 at 04:57PM. Show all posts
Friday, May 12, 2017
Trump: I Can End Obamacare Health Insurer Subsidies ‘Anytime I Want’
Can the Rally in PJT Partners (PJT) Shares Continue?
PJT Partners Inc PJT has been on the move lately as the stock has risen by 15.1% in the past four weeks, and it is currently trading well above its 20-Day SMA. This is a pretty solid move higher, but the question that has to be on investors’ minds right now is; can this trend continue?
While there can be no telling for sure, it is certainly encouraging that earnings estimates have risen in the past few weeks on the company, suggesting that sentiment on PJT is moving in the right direction. In fact, the stock currently has a Zacks Rank #1 (Strong Buy), suggesting that the recent run could certainly continue for this in-focus company. You can seethe complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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PJT Partners Inc. (PJT): Free Stock Analysis Report
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Zacks Investment Research
May 12, 2017 at 04:54PM
from Zacks Equity Research
Hajj fraud figures are just the tip of the iceberg
Victims of Hajj fraud experienced a total loss of £35,278 with seven reports of Hajj fraud made to Action Fraud in 2016.
May 12, 2017 at 04:56PM
from ActionFraud
IMF, eurozone still at loggerheads over Greece
The International Monetary Fund has urged eurozone finance ministers to be more specific in their commitment to a debt relief package for bailed-out Greece. It’s a sensitive issue in pre-election Germany. Talking to eurozone finance ministers on the fringes of a G7 meeting in Bari, Italy, IMF chief Christine … Read full article »
May 12, 2017 at 04:50PM
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Saturday, April 29, 2017
Aumento di capitale da 30M per Satispay, già raccolti 14 milioni. Obiettivo: mercato estero
Risorse da record per la startup italiana dei pagamenti digitali fondata da Alberto Dalmasso, Dario Brignone e Samuele Pinta. I fondi raccolti saranno destinati all’internazionalizzazione del prodotto. A partire dalla Germania
April 29, 2017 at 04:47PM
from Alessio Nisi
Friday, April 28, 2017
Leggett (LEG) Q1 Earnings Beat Estimates, Reiterates View
Leggett & Platt Incorporated LEG posted first-quarter 2017 results, wherein earnings topped estimates while sales came in line. Further, the company’s results were a mixed bag with sales improving year over year, while earnings dropped.
While the results didn’t have much of an impact on the stock price, shares of Leggett have underperformed the Zacks categorized Furniture industry in the past three months. Leggett’s shares have jumped 16.8% in the last six months, underperforming the industry’s gain of 28.1%.
The company’s quarterly adjusted earnings from continuing operations of 62 cents per share declined 1.6% year over year, but surpassed the Zacks Consensus Estimate of 59 cents. During the quarter, benefits from higher sales and lower tax rate were offset by increased raw material costs and other minor factors.
Delving Deeper
Net sales from continuing operations rose nearly 2% to $960.3 million and were in line with the Zacks Consensus Estimate. Same location sales grew 4%. Including inter-segment sales, total sales came in at $1,038.9 million, down 0.7% year over year.
Organic sales improved 4% driven by strong Automotive sales, partly negated by divestitures completed in 2016. This marked the first quarter of organic sales growth after seven consecutive declines that were attributed to deflation and currency headwinds.
Gross profit dropped 3% year over year to $226 million, while gross margin contracted 140 basis points (bps) to 23.5%. The company’s adjusted EBIT margin declined 140 bps to 12.1% in the fourth quarter. In dollar terms, adjusted EBIT was down 8.8% at $115.9 million. The fall in EBIT margin is attributed to the pricing lag that the company generally undergoes in times of commodity inflation.
Segment Details
The company changed its segment reporting in sync with the changes made to the organizational structure, effective Jan 1, 2017. As a result, the Home Furniture group has moved from Residential Products to Furniture Products segment (formerly Commercial Products segment). Further, the Machinery group has moved from Specialized Products to Residential Products segment.
First-quarter Residential Products’ sales of $391.3 million remained nearly flat from last year, backed by a 2% increase in same location sales offset by acquisitions. Volume increased 2% as demand picked up in latter part of the quarter. However, this was neutralized by 4% decline in pass through sales of adjustable beds. Including inter-segment sales, total sales for the segment rose 0.3% to $396.1 million.
Sales of Furniture Products improved 5.4% to $264.8 million. However, total sales for the segment (including inter-segment sales) remained almost flat at $271.1 million. Benefits from in Adjustable Bed and Work Furniture growth was negated by lower sales of Fashion Bed and Home Furniture.
The Industrial Products segment’s sales fell 9.5% to $69.8 million, while same location sales dropped 4%. Total sales, including inter-segment sales, slumped 14% to $135.4 million mainly due to divestitures completed in 2016.
The Specialized Products segment’s sales improved 6.6% to $234.4 million. Same location sales rose 9% backed by strong Automotive and Aerospace volumes, partly offset by negative currency impact. Divestitures, net of acquisitions, impacted sales by 2%. Total sales for the segment (including inter-segment sales) also increased 6.7% to $236.3 million.
Financials
Leggett ended the first quarter with cash and equivalents of $268.6 million and long-term debt of $1,119.9 million. Leggett generated $57.7 million in cash flow from operations during first-quarter 2017.
The company had net debt to net capital ratio of 40% at quarter end, falling within the target range of 30–40%.
In February, the company raised quarterly dividend by 2 cents to 34 cents per share. This marked Leggett’s 46th straight annual dividend hike. Additionally, the company repurchased nearly 2.2 million shares at an average of $48.82 in the first quarter. At the same time, it issued 1 million shares through employee benefit plans and option exercises.
Guidance
Going forward, the company expects sales growth to drive solid earnings in 2017. Sales for 2017 are anticipated to lie in a band of $3.95–$4.05 billion, reflecting a 5–8% year-over-year growth. Further, the company expects mid-single-digit volume growth, driven by strength in Automotive, Bedding, Adjustable Bed, Work Furniture, and Geo Components businesses. Further, the company anticipates raw material price related increases to aid sales growth in 2017. The company expects 2017 EBIT margin of approximately 13%. Consequently, management expects 2017 earnings per share in the range of $2.55–$2.75.
Additionally, continuing with its trend of generating more cash than required to fund dividends and capital expenditures, Leggett expects operating cash flows of over $450 million for 2017. Capital expenditures for the year are anticipated to be approximately $150 million, while the company intends to spend $185 million toward dividend payouts. The company outlined the target dividend payout ratio to be 50–60% of net earnings.
Further, Leggett expects to continue with share repurchase program, having a standing authorization to buy back up to 10 million shares every year, after fulfilling all priority requirements. The company plans to repurchase 3–4 million shares in 2017, while issuing nearly 2 million shares for employee benefit plans.
Leggett & Platt, Incorporated Price, Consensus and EPS Surprise
Leggett & Platt, Incorporated Price, Consensus and EPS Surprise | Leggett & Platt, Incorporated Quote
Stocks to Consider
Leggett currently carries a Zacks Rank #4 (Sell). Better-ranked stocks in the same industry include American Woodmark Corporation AMWD, Bassett Furniture Industries Incorporated BSET and Man Wah Holdings Limited MAWHY, each carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
American Woodmark has jumped nearly 22.7% year to date. Moreover, the company has an average positive surprise of 10.6% in the trailing four quarters.
Bassett Furniture has grown 2.5% year to date. Moreover, the company’s positive estimate revisions for the current fiscal bode well.
Man Wah Holdings has surged about 21.7% year to date. Moreover, the company witnessed positive estimate revisions in the last 60 days.
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Leggett & Platt, Incorporated (LEG): Free Stock Analysis Report
American Woodmark Corporation (AMWD): Free Stock Analysis Report
Man Wah Holdings Limited (MAWHY): Free Stock Analysis Report
Bassett Furniture Industries, Incorporated (BSET): Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
April 28, 2017 at 04:50PM
from Zacks Equity Research
Adient delivers strong FY 2017 Q2 results; increases full year earnings expectations
GAAP net income and EPS diluted increased to $192 million and $2.04, respectively; adjusted-EPS diluted up…
April 28, 2017 at 04:48PM
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IDEXX Laboratories Announces First Quarter Results
April 28, 2017 at 04:48PM
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Bull of the Day: Unilever (UL)
After many years of underperformance, emerging markets are shining in 2017. We can see signs of improving economic growth in many parts of the developing world. This rebound has benefitted multinational giants that derive a significant portion of their sales from emerging markets.
About the Company
Headquartered in London, UK, Unilever PLC (UL) is a multinational consumer goods company. They employ ~169,000 people.
The company has a huge portfolio of more than 400 well-known brands including Dove, Lipton, Knorr and Ben & Jerry’s. Emerging markets account for about 60% of their sales. Seven out of every ten households around the world contain at least one Unilever product.
Better-than-expected Results
The company reported better than expected results, thanks mainly to strong growth in emerging markets, except Brazil.
Turnover increased 6.1% with a positive currency impact of 2.4%. Underlying sales growth was 2.9% with price up 3.0% but volume down 0.1%. Weaker than expected growth in North America and Europe was mainly responsible for decline in volume.
The company saw strong pricing power in emerging markets, where sales growth was 6.1%–with price up 5.3% and volume up 0.8%. Price growth was particular impressive in Asia.
“The first quarter shows growth once more ahead of our markets. This reflects our continued investment in both innovations and brand support, and reconfirms the strength of our long term sustainable compounding growth model,” said the CEO.
The management said they are on track to achieve 3-5% sales growth and at least 80 bps operating margin growth in 2017.
Rising Estimates
Zacks Consensus Estimates for the current and next year have increased to $2.44 and $2.78 respectively, from $2.26 and $2.44, before the results.
Returning Capital to Shareholders
The company has been returning a lot of cash to shareholders. The dividend yield is 2.65% as of now. They raised their dividend by 12% earlier this month.
Kraft Heinz Bid
Earlier this year, Unilever spurned a $143 billion unsolicited takeover offer from Kraft Heinz. Per Unilever, the deal did not make sense due to difference in their business models. Their spokesman said “it was best to step away early so both companies can focus on their own independent plans to generate value.”
The Bottom Line
For the past many years, sluggish growth and weak currencies in emerging markets posed challenges to multinational companies. But the situation has changed this year. Growth has rebounded strongly and domestic currencies in many developing countries, particularly in India, Brazil, Indonesia and South Africa, have strengthened against the dollar.
UL is a Zacks Rank#1 (Strong Buy) stock with a VGM Score of “A”. Additionally, a Zacks Industry rank of 14 out of 265 (top 5%) and a dividend yield of 2.65% make the stock worth a look.
Zacks’ Best Private Investment Ideas While we are happy to share many articles like this on the website, our best recommendations and most in-depth research are not available to the public. Starting today, for the next month, you can follow all Zacks’ private buys and sells in real time. Our experts cover all kinds of trades… from value to momentum . . . from stocks under $10 to ETF and option moves . . . from stocks that corporate insiders are buying up to companies that are about to report positive earnings surprises. You can even look inside exclusive portfolios that are normally closed to new investors. Click here for Zacks’ private trades >>
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Unilever PLC (UL): Free Stock Analysis Report
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Zacks Investment Research
April 28, 2017 at 04:50PM
from Neena Mishra
BNCCORP, INC. Reports First Quarter Net Income Of $1.1 Million, Or $0.30 Per Diluted Share, Assets Top $1 Billion And Deposits Surge
2017 First Quarter Highlights
Net income in the 2017 first quarter was $1.1 million, compared to $1.4 million in the first quarter of 2016
Total assets grew to $1.0 billion at March 31, 2017 as deposits grew $135 million,…
April 28, 2017 at 04:48PM
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Yellen ‘behind the curve’ and playing catch up’: Peter Boockvar
http://ift.tt/eA8V8J
Peter Boockvar, The Lindsey Group, talks about the rebound in markets and shares his thoughts on the economy. We have a mediocre economy and the Fed is raising interest rates, it’s not a great combination, says Boockvar.
April 28, 2017 at 04:47PM
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Epic Sciences Announces Completion of $40 Million Series D Financing
April 28, 2017 at 04:48PM
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Weatherford Reports First Quarter 2017 Results
April 28, 2017 at 04:48PM
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Agrobank receives recognition at Global Good Governance Awards – The Star Online
The Star Online |
Agrobank receives recognition at Global Good Governance Awards
The Star Online Agrobank receives a recognition from the G3 Awards in the financial services category. The award was received by Agrobank chairman Tan Sri Mohamad Zabidi Zainal (centre) and chief credit officer Jasni Mohamed Yusuf (right). KUALA LUMPUR: Agrobank … |
April 28, 2017 at 04:55PM
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Thursday, April 27, 2017
Somewhat Critical Media Coverage Very Likely to Affect PRGX Global (PRGX) Stock Price
Headlines about PRGX Global have trended somewhat negative recently, Alpha One Sentiment Analysis reports. The research firm, a division of Accern, rates the sentiment of press coverage by analyzing more than 20 million blog and news sources.
April 27, 2017 at 04:54PM
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Sunday, April 23, 2017
The Value of Trading Contracting Triangles and Wave Corrections
By Admiral Markets
Dear Traders,
Many traders appreciated last month’s article with
my most favourite wave patterns. Being able to recognise wave 3 and “end of the trend” scenarios makes sense even for non-Elliott Wave traders.
This article adds another two patterns, which I think are relatively simple to identify. That is a win-win for both wave and non-wave traders.
Today we review the contracting triangle chart pattern and the end of the wave 4 correction.
Trading triangle chart patterns
The Elliott Wave Theory explains how and why price moves as it does — with momentum and correction besides up, down and sideways. There are many variations of corrective patterns, but one particular pattern is my favourite — the contracting triangle.
The contracting triangle has many advantages because it is relatively simple to spot and trade. Why?
They key feature of the contracting triangle is that the tops and bottoms do not break. Or in other words, there are several lower highs and higher lows in a row.
The triangle usually offers 5 support and resistance (S&R) points in the pattern, although sometimes the pattern is extended with 9 S&R points.
Price can break both above and below the triangle, but there is higher chance that the breakout will occur in the same direction as the previous momentum, which means:
- Bullish momentum before the formation of the triangle typically sees a bullish breakout above the triangle.
- Bearish momentum before the formation of the triangle typically sees a bearish breakout below the triangle.
This pattern, therefore, offers interesting trade possibilities and entry setups for traders because the tops and bottoms represent natural and strong support and resistance (S&R) points.
The S&R levels can be used in various ways:
- For bounce entries:
- Long entry near support.
- Short entry near resistance.
- For breakout entries:
- Long entry as price breaks above resistance.
- Short entry as price breaks below support.
- For stop loss (SL):
- Long entries should have SL below support.
- Short entries should have SL above resistance.
- For targets (take profits):
- Bounce trades can target the opposite S&R of triangle, S&R from a higher time frame or a Fibonacci level.
- Breakout trades can target S&R from a higher time frame or a Fibonacci level.
Basically, the triangle can be used to trade bounces within the triangle and breakouts away from the triangle.
I myself use candlesticks to measure whether a breakout or bounce trade setup has been properly formed. For more details on how I read the price action in general and how I interpret the candlestick itself, please check out the video below.
It will explain why the size of the candle is important and why percentage of the candle wick compared to the candlestick body is also vital.
Wave 4-5 patterns
Contracting triangles often occurs in wave 4s, but it can also apply to other moments. Generally speaking,
wave 3 and even wave 1 are often more interesting to trade than wave 4 and 5.
However, there is an aspect of this formation that I appreciate — the price will typically retrace to the 38.2% Fibonacci retracement level. These patterns take their time to develop, so there is no rush.
- Time — there is plenty of time to wait for a corrective pattern to emerge. Wave 4s are typically the longest wave structure, so you can measure candles in wave 2 and assume that wave 4 will have more (as a guideline, not a rule).
- Fibonacci levels — if price retraces too quickly and breaks through the 38.2-50% Fibonacci zone, the pattern could hint at the reversal structure rather than a continuation pattern.
Typical patterns for a wave 4 are bull and bear flags, ranges, consolidation zones, contracting triangles, and ascending and descending triangles.
My favourite method of trading wave 4s is by anticipating a bounce at the 38.2% Fibonacci retracement level. Most often, I want to see a candlestick reaction to the Fibonacci level as a confirmation that a bounce is indeed occurring.
Here are more details regarding the entry, stop loss and take profits:
- My entry is taken when the candlestick reaction confirms that the bearish or bullish bounce takes place at the 38.2% Fibonacci level.
- If price is retracing down to the Fib, then the Fib is support and I am looking for a long.
- If price is retracing up to the Fib, then the Fib is resistance and I am looking for a short.
- The stop loss can go below the recent candle low (when long) or candle high (when short). Other options for stop loss are placing the exit behind the 50% or 61.% Fibonacci level, which invalidates the wave 4 structure.
- Targets could aim for the previous top or bottom, Fibonacci target, Admiral Pivot Points and other indicators.
See the video below for more information on Fibonacci.
Cheers and safe trading,
Chris
Article by Admiral Markets
Source: The Value of Trading Contracting Triangles and Wave Corrections
Admiral Markets is a leading online provider, offering trading with Forex and CFDs on stocks, indices, precious metals and energy.
April 23, 2017 at 04:53PM
from Forex Contributor
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