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For investors seeking momentum, Vanguard S&P Small-Cap 600 ETF VIOO is probably on radar now. The fund just hit a 52-week high and is up nearly 29.7% from its 52-week low price of $99.41/share.
But are more gains in store for this ETF? Let’s take a quick look at the fund and the near-term outlook on it to get a better idea on where it might be headed:
VIOO in Focus
This fund seeks to provide exposure to the small cap segment with key holdings in industrials, financials, consumer discretionary, information technology and health care. It is highly diversified across components with none holding more than 0.60% share and charges 15 bps in fees per year (see: all the Small Cap ETFs here).
Why the Move?
The small cap space of the broad U.S. stock market has been an area to watch lately given the re-emergence of geopolitics and overvaluation concerns. In fact, the five biggest technology stocks, which were the main drivers of stock rally, lost more than $97.5 billion in market value on Friday as the leading investment bank Goldman Sachs warned that the stock price of these tech companies have raised rapidly. Additionally, the outcome of UK elections and growing tensions in the Gulf States are adding to volatility. Against such a backdrop, small cap stocks are the biggest beneficiaries as these are closely tied to the U.S. economy and do not have much exposure to the international market.
More Gains Ahead?
Currently, VIOO has a Zacks ETF Rank of 3 or ‘Hold’ rating with a Medium risk outlook. Therefore, it is hard to get a handle on its future returns one way or the other. However, many of the segments that make up this ETF have a strong Zacks Industry Rank. As a result, there is still some promise for investors who want to ride on this surging ETF.
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VANGD-SP6 ETF (VIOO): ETF Research Reports
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Zacks Investment Research
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June 12, 2017 at 08:48PM
from Sweta Killa
Alkermes plc ALKS announced that it initiated a phase III study, ENLIGHTEN-Early on experimental candidate, ALKS 3831. The study is a supportive study in the broad clinical development program, ENLIGTHEN on ALKS 3831.
We note that ALKS 3831 is a once-daily, oral atypical antipsychotic drug candidate designed to be a broad-spectrum treatment for schizophrenia.
Alkermes’ share price increased 10.9% year to date as against the Zacks classified Medical – Biomedical and Genetics industry’s gain of 2.2%.
Notably, the ENLIGHTEN clinical development program for ALKS 3831 includes two main studies: a study assessing the antipsychotic efficacy of ALKS 3831 compared with placebo over four weeks and a study evaluating weight gain with ALKS 3831 compared with Eli Lilly and Company’s LLY Zyprexa (olanzapine) in patients with schizophrenia over a period of six months.
ENLIGHTEN-Early is a 12-week phase III study comparing the weight gain profile of ALKS 3831 to Zyprexa in about 250 young adults with schizophrenia, schizophreniform disorder or bipolar I disorder who are early in their illness. All participants in double-blind portion of study will be eligible to continue in open-label safety study of ALKS 3831 for additional 24 months. In fact, the main purpose of the study is to assess the long-term safety, tolerability and durability of effect of once-daily, oral ALKS 3831.
Moving ahead, the company expects data readouts from the exploratory metabolic study and the pivotal antipsychotic efficacy study by mid-2017.
Schizophrenia is a critical disease and ALKS 3831 has the potential to treat the disease particularly in this young adult population.
Zacks Rank and Stocks to Consider
Alkermes carries a Zacks Rank #4 (Sell). Better-ranked stocks in health care sector include VIVUS, Inc. VVUS and MEI Pharma, Inc. MEIP sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
VIVUS’ loss per share estimates narrowed from 502 cents to 39 cents for 2017 over the last 60 days. The company posted positive earnings surprises in all four trailing quarters, with an average beat of 233.69%. The share price of the company increased 4.4% year to date.
MEI Pharma’s estimates moved up from loss per share of 1 cent to gain per share of the same for 2017, over the last 60 days. The company posted positive earnings surprises in three of the four trailing quarters, with average beat of 66.56%. The share price of the company increased 26.4% year to date.
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don’t buy now, you may kick yourself in 2020. Click here for the 6 trades >>
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 report
Eli Lilly and Company (LLY): Free Stock Analysis Report
VIVUS, Inc. (VVUS): Free Stock Analysis Report
Alkermes PLC (ALKS): Free Stock Analysis Report
MEI Pharma, Inc. (MEIP): Free Stock Analysis Report
To read this article on Zacks.com click here.
June 12, 2017 at 08:48PM
from Zacks Equity Research
Capturing headlines this morning are shakeups within the top brass at both one of the top companies of the 20th century, General Electric GE, and a storied 21st century firm, Uber (not yet publicly traded). GE CEO Jeff Immelt will be stepping down after more than 15 years at the helm of the company; Uber’s Travis Kalanick is reportedly being pressured to take a leave of absence from the ride-sharing industry leader.
Immelt will retain his position as Chairman of GE through the remainder of 2017, to be succeeded by incoming CEO John Flannery. Reports are that this transition does not represent a radical departure for the direction of the giant conglomerate, but will continue to massage synergies from its many acquisitions made over recent years. During Immelt’s tenure overall, GE stock is down 29% — in today’s pre-market, shares are up roughly 3.6% at this hour.
When Immelt took over for “legendary” GE CEO Jack Welch in 2001 — shortly before the attacks of 9/11, by the way — the company was already coming down from its all-time peak around the turn of the millennium. GE took another big leg down when the Great Recession hit toward the end of 2008, and the stock has yet to recover to that $40-ish price range prior to the economic collapse. Shares in the pre-market are teetering just under $29 per share now.
Travis Kalanick’s possible leave of absence as CEO of Uber, the company he co-founded, may be complicated by the stepping down of Uber CBO Emil Michael as early as today. Both this latest development and the whisper campaign regarding Uber’s board pressuring Kalanick to take a break from helming the company are likely results of a report expected this week based on an investigation from ex-Attorney General Eric Holder on the potentially problematic culture within the Uber workforce.
Reports of misogyny and general irresponsible behavior were persistent enough to put this investigation into play; now that the results are about to see the light of day, the board looks to attempt to get ahead of any potential problems by having Kalanick — the person most often charged with creating this alleged problematic culture — step aside for awhile, perhaps to be succeeded by co-founder Garrett Camp.
Neither Kalanick nor Camp are professional executive types, ultimately, so we may not have seen the last of the shakeups at Uber, near-term. After all, investors remain very interested in working a successful IPO for the global ride-sharing service. But the company may need to lock in the perception of adults in control of the business before Uber can move forward on this. Expect more headlines on the possible directions of this company as Holder’s report is released.
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General Electric Company (GE): Free Stock Analysis Report
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Zacks Investment Research
June 12, 2017 at 08:48PM
from Zacks Equity Research
The Kroger Co. KR is slated to release first-quarter fiscal 2017 results on Jun 15. In the trailing four quarters, it outperformed the Zacks Consensus Estimate by an average of roughly 1%. In the preceding quarter, the company reported in-line earnings. Let’s see how things are shaping up prior to this announcement.
The question lingering in investors’ minds now is whether Kroger will be able to post positive earnings surprise in the quarter to be reported. The current Zacks Consensus Estimate for the quarter under review is 57 cents, reflecting a year-over-year decline of over 18%. We note that the Zacks Consensus Estimate has been stable in the past 30 days. Analysts polled by Zacks expect revenues of $35,475 million, up more than 2% from the year-ago quarter.
Factors at Play
A dominant position among the nation’s largest grocery retailers enables Kroger to sustain sales growth, expand store base and boost market share. We believe there remain enormous opportunities to augment identical supermarket sales, alleviate gross margin pressure and improve operating margin. In our view, Kroger’s long-term earnings per share growth rate target of 8–11% seem achievable. However, stiff competition, deflationary environment and cautious consumer spending are making things tough for the company. Management had earlier projected first-quarter earnings in the band of 55–59 cents a share.
Kroger Company (The) Price, Consensus and EPS Surprise
Kroger Company (The) Price, Consensus and EPS Surprise | Kroger Company (The) Quote
What Does the Zacks Model Unveil?
Our proven model does not conclusively show that Kroger is likely to beat earnings estimates this quarter. This is because a stock needs to have both a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) for this to happen. You can see the complete list of today’s Zacks #1 Rank stocks here.
Kroger has an Earnings ESP of 0.00% as both the Most Accurate estimate and the Zacks Consensus Estimate are pegged at 57 cents. Kroger’s Zacks Rank #3 increases the predictive power of ESP. However, we need to have a positive ESP to be confident about an earnings surprise. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Stocks Poised to Beat Earnings Estimates
Here are some companies you may want to consider as our model shows that these have the favorable combination of elements to post an earnings beat:
Darden Restaurants, Inc. DRI has an Earnings ESP of +1.74% and a Zacks Rank #2.
Expedia, Inc. EXPE has an Earnings ESP of +3.28% and a Zacks Rank #3.
Fastenal Company FAST has an Earnings ESP of +2.04% and a Zacks Rank #3.
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don’t buy now, you may kick yourself in 2020. Click here for the 6 trades >>
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 report
Expedia, Inc. (EXPE): Free Stock Analysis Report
Fastenal Company (FAST): Free Stock Analysis Report
Darden Restaurants, Inc. (DRI): Free Stock Analysis Report
Kroger Company (The) (KR): Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
June 12, 2017 at 08:48PM
from Zacks Equity Research
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The International Accounting Standards Board (IASB) has released an agenda for the meeting of the Accounting Standards Advisory Forum (ASAF), which is to be held at the IASB’s offices in London on 6-7 July 2017.
June 12, 2017 at 08:24PM
from
Chemical company, PolyOne POL has purchased Pineville, NC-based specialty inks maker, Rutland Holding Company. The financial terms of the deal were not disclosed.
Rutland, which specializes in customized formulations for consumer applications, is a leading manufacturer of screen printing inks for the apparel market. The entity offers a broad range of specialty screen printing inks and has global manufacturing footprint and customer reach.
The acquisition expands PolyOne’s portfolio of specialty color, additives and inks solutions. PolyOne plans to continue to market Rutland’s brands including Rutland, Printop, QCM and Union Ink as well as its own Wilflex products, based on customer specification and preference.
PolyOne sees the Rutland acquisition to be immediately accretive to its earnings. It plans to discuss the transaction in details in its second-quarter 2017 earnings call.
PolyOne has outperformed the Zacks categorized Chemicals-Plastics industry over the past six months. The company’s shares have gained around 12.6% over this period, compared with roughly 6.1% decline recorded by the industry.
PolyOne is gaining from its recent acquisitions which are contributing to its top line growth. Its sales rose 6% year over year to nearly $900 million in the first quarter with acquisitions contributing 2% to the top line. Sales from its Color, Additives and Inks unit went up 3% in the quarter.
PolyOne had around $158 million in cash and total available liquidity of more than $550 million at the end of the first quarter, which is available for organic investment initiatives and bolt-on specialty acquisitions.
PolyOne currently carries a Zacks Rank #2 (Buy).
PolyOne Corporation Price and Consensus
PolyOne Corporation Price and Consensus | PolyOne Corporation Quote
Other Stocks to Consider
Other well-placed companies in the chemicals space include Huntsman Corporation HUN, Kronos Worldwide, Inc. KRO and The Chemours Company CC, all sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Huntsman has an expected long-term earnings growth of 7%.
Kronos has an expected long-term earnings growth of 5%.
Chemours has an expected long-term earnings growth of 15.5%.
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don’t buy now, you may kick yourself in 2020. Click here for the 6 trades >>
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 report
Kronos Worldwide Inc (KRO): Free Stock Analysis Report
Huntsman Corporation (HUN): Free Stock Analysis Report
Chemours Company (The) (CC): Free Stock Analysis Report
PolyOne Corporation (POL): Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
June 12, 2017 at 08:48PM
from Zacks Equity Research
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Trump Gave The FBI New Life After Removing Comey, Now It’s Time To Do The Same At The IRS http://ift.tt/2sr3thz http://ift.tt/2rZzkDj http://ift.tt/2r8aeAM http://ift.tt/2r8aeAM http://ift.tt/2cqLJXk http://ift.tt/2sra8bm
June 11, 2017 at 08:48PM
from IWB
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Get “Enemy of the State” Now: http://ift.tt/2rdVgZ7 MP3: http://ift.tt/2sr95bx Soundcloud: http://ift.tt/1L2l7Jk “The powerful story of Tommy Robinson, former leader of the EDL and a man persecuted by the British state, simply for standing up…
June 11, 2017 at 08:48PM
from IWB
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By David McDonald In January 2010, the Greek Ministry of Finance published Stability and Growth Program 2010. The report listed five main causes, poor GDP growth, government debt and deficits, budget compliance and data…
June 11, 2017 at 08:48PM
from IWB
This week’s domestic box office winner was pretty much decided before we even got to the weekend.
The acclaimed “Wonder Woman” followed up its record-breaking opening weekend last week by winning the United States box office for a second-straight weekend with an estimated $57 million, according to Exhibitor Relations, a dip of only 45% from last weekend. The movie has now brought in a total of $205 million domestically.
In a distant second place with $32 million is “The Mummy,” which is both a Tom Cruise movie and the kick-off to another cinematic universe, this one being Universal’s reboot of the classic monsters of decades past that its named Dark Universe.
On the surface, the pitiful US gross for “The Mummy” looks like the worst possible scenario for Universal in launching a franchise to go up against Marvel Studios and DC Films. But looking globally, the movie has the most interesting box office storyline of the weekend.
With a 20% rating on Rotten Tomatoes going into the weekend (it’s now at 17%), “The Mummy” was going to be DOA domestically by Sunday, and Universal would have to hope for a strong outing overseas to save face. And that’s exactly what happened.
It started on Friday when news hit that the movie opened in China (perhaps the most important international market) on Thursday with an $18.7 million take, the biggest opening day ever there for a Tom Cruise movie. The movie debuted in Russia on Thursday as well and took in $1.6 million, also the biggest first day ever there, too. In the 33 international markets where “The Mummy” opened between Wednesday and Thursday, the movie took in $20.5 million.
Combining that with its domestic take, “The Mummy,” budgeted at around $125 million (tack on another $90 million or so for marketing), earned Cruise his biggest global opening ever with $174 million, passing the $167.4 million earned for 2005’s “War of the Worlds.”
“The Mummy” director, Alex Kurtzman, told Business Insider late last week he didn’t make the movie for critics. It seems the audience he did make it for came to see the movie in droves.
But “The Mummy” being bulletproof from negative critical reaction is something the franchise even had back in its Brendan Fraser era. The three movies with Fraser and the spinoff starring Dwayne “The Rock” Johnson, “The Scorpion King,” totaled close to $1.5 billion in its worldwide box office.
Add that with the box office clout Tom Cruise has, and you’ll understand why “The Mummy” is far from a bust financially, and why Universal is still very bullish on its Dark Universe.
SEE ALSO: The insane workouts Alison Brie did to get in shape for her new show
DON’T MISS: ‘The Mummy’ director responds to critics bashing the movie: ‘I’m not making movies for them’
Join the conversation about this story »
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June 11, 2017 at 08:47PM
from Jason Guerrasio
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French voters cast their ballots on Sunday in the first round of a parliamentary election expected to give centrist President Emmanuel Macron the
June 11, 2017 at 08:52PM
from
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UK Prime Minister Theresa May is seeking a deal with a small Northern Irish party as she tries to stay in power after last week’s general election.
June 11, 2017 at 08:52PM
from
On Jun 7, Zacks Investment Research upgraded Ciena Corp. CIEN to a Zacks Rank #1 (Strong Buy).
Why the Upgrade?
The upgrade can primarily be attributed to the company’s impressive second-quarter fiscal 2017 results. Revenues totaled $707 million, up 10.3% year over year and ahead of the Zacks Consensus Estimate of $694 million.
Non-GAAP earnings (excluding stock-based compensation) of 45 cents increased 32.4% on a year-over-year basis driven by the robust top-line growth. Including stock-based compensation, earnings were 38 cents per share, which beat the Zacks Consensus Estimate of 29 cents.
We also note that shares of the company have outperformed the Zacks Fiber-Optics industry on a year-to-date basis. While the industry lost 1.1%, the stock gained 12.6%.
We believe that the impressive results and positive guidance will help the stock sustain this momentum in the rest of fiscal 2017.
Growth Catalysts
Accelerated software subscription and addition of new customers primarily backed the encouraging second-quarter results. Notably, the huge growth in the Asia-Pacific region was primarily driven by revenue contribution from India, which amounted to almost $100 million in the first half of fiscal 2017.
We believe the availability of Ciena’s new 400 gig per wavelength chip, Wavelogic AI, this summer will drive top-line growth further. The first-of-its-kind chip will also provide an early mover advantage against its peers like Cisco CSCO and Juniper Networks JNPR.
The company is poised for long-term growth with opportunities for developing 5G technologies for service providers and Fiber Deep cable MSO customers, given higher densification of networks.
Estimate Revision
The Zacks Consensus Estimates for 2017 has been steady at $1.36 for the last 30 days. For 2018, the estimate is currently pegged at $1.65, up 1.85% over the same time frame.
Key Pick
Another stock that can be considered by investors is Applied Optoelectronics, Inc. AAOI, sporting a Zacks Rank #1. You can see the complete list of today’s Zacks #1 Rank stocks here.
The long-term earnings growth rate for Applied Optoelectronics is projected to be 20%.
3 Stocks to Ride a 588% Revenue Explosion
At Zacks, we’re mostly focused on short-term profit cycles, but the hottest of all technology mega-trends is starting to take hold…
By last year, it was already generating $8 billion in global revenues. By 2020, it’s predicted to blast through the roof to $47 billion. Famed investor Mark Cuban says it will produce “the world’s first trillionaires,” but that should still leave plenty of money for those who make the right trades early.
See Zacks’ Top 3 Stocks to Ride This Space >>
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 report
Cisco Systems, Inc. (CSCO): Free Stock Analysis Report
Juniper Networks, Inc. (JNPR): Free Stock Analysis Report
Applied Optoelectronics, Inc. (AAOI): Free Stock Analysis Report
Ciena Corporation (CIEN): Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
June 07, 2017 at 08:47PM
from Zacks Equity Research
The stock market runs on sentiment and any unforeseen event in a particular sector has a rippling effect on others with a clear reflection on major indices that bear the brunt. The case is more or less the same for specific sectors that often see good or bad performance by one player influencing the performance of others. Yesterday, the major indices – Dow Jones Industrial Average, Nasdaq and S&P 500 shed 47.81, 20.63, and 6.77 points, respectively. A host of reasons may have influenced the entire trading session. But for now we are concentrating on one stock, Macy’s, Inc. M that kept investors on tenterhooks.
Macy’s Flop Show
Shares of Macy’s nosedived 8.2% yesterday and even hit a 52-week low of $21.86 – before recovering by just 4 cents – after this department store retailer warned investors that its margins may continue to feel the pinch. Management now envisions fiscal 2017 gross margin to contract 60–80 basis points, while for the second quarter it expects the same to shrivel by 100 basis points from the year-ago period.
A glimpse of Macy’s share price movement reveals that it has plunged 49.2% in the past six months compared with the Zacks categorized Retail – Regional Department Stores industry’s decline of 46%. In contrast, the Zacks categorized Retail-Wholesale sector has advanced 10.7%.
What’s Giving it a Hard Time?
A challenging retail landscape, soft store traffic and stiff competition from online retailers, particularly Amazon.com, Inc. AMZN, have been hurting Macy’s performance. This is quite visible from its first-quarter fiscal 2017 results, wherein sales and earnings per share declined 7.5% and 40% year over year, respectively. While net sales decreased 7.4%, 3.9%, 4.2% and 4% in the first, second, third and fourth quarters of fiscal 2016, respectively; earnings per share declined 28.6%, 15.6%, 69.6% and 3.3% during the respective quarters.
Additionally, management at its first quarter conference call had stated that it expects total sales to decline in the band of 3.2–4.3% and expects comps on an owned plus licensed basis to decrease in the range of 2–3% during fiscal 2017. This Zacks Rank #3 (Hold) company also projected adjusted earnings in the range of $2.90–$3.15 per share compared with $3.11 posted in fiscal 2016.
Macy’s Plan of Action
Macy’s has announced a slew of measures revolving around stores closures, cost containment, real estate strategy and investment in omni-channel capabilities to enhance sales, profitability and cash flows. Additionally, management is developing its e-commerce business, Macy’s Backstage off-price business and expanding Bluemercury and online order fulfillment centers.
Management is realigning operations and focusing on curtailing costs. It informed that these measures are likely to result in annual savings of about $550 million, and would allow the company to invest an additional $250 million in enhancing digital business, store-related growth initiatives, Bluemercury, Macy’s Backstage and China.
Domino Effect
Had the impact of Macy’s gross margin warning remained confined to the stock alone, it would have been less of a concern. Instead, investors pressed the panic button that took a toll on other retail stocks.
Shares of Kohl’s Corporation KSS, which operates department stores, dropped 5.8% yesterday. Last month, this Zacks Rank #3 company came up with first-quarter fiscal 2017 adjusted earnings of 39 cents a share that surpassed the Zacks Consensus Estimate of 28 cents.
J. C. Penney Company, Inc. JCP also felt the heat as its shares tumbled 4.1%. The operator of department stores had posted better-than-expected first-quarter fiscal 2017 results last month. This Zacks Rank #3 company delivered quarterly earnings of 6 cents that were far better than the Zacks Consensus Estimate of a loss of 22 cents.
Shares of Dillard’s, Inc. DDS, which operates as fashion apparel, cosmetics, and home furnishing retailer, declined 3.4%. This Zacks Rank #3 company reported first-quarter fiscal 2017 results last month, wherein earnings of $2.12 beat the Zacks Consensus Estimate of $1.98.
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Were Investors too Hasty?
Macy’s cautionary outlook about gross margin rung an alarm for other department store retailers and even did not spare the broader retail sector. We note that gross margin in the first quarter had contracted 100 basis points to 38.1%, and management expects the deterioration to continue, albeit at an equivalent rate. Nevertheless, Macy’s kept its comps and earnings per share projection intact, and investors should have acknowledged the same before punishing the stocks.
3 Stocks to Ride a 588% Revenue Explosion
At Zacks, we’re mostly focused on short-term profit cycles, but the hottest of all technology mega-trends is starting to take hold…
By last year, it was already generating $8 billion in global revenues. By 2020, it’s predicted to blast through the roof to $47 billion. Famed investor Mark Cuban says it will produce “”the world’s first trillionaires,”” but that should still leave plenty of money for those who make the right trades early. See Zacks’ Top 3 Stocks to Ride This Space >>
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 report
Amazon.com, Inc. (AMZN): Free Stock Analysis Report
Macy’s Inc (M): Free Stock Analysis Report
Dillard’s, Inc. (DDS): Free Stock Analysis Report
J.C. Penney Company, Inc. Holding Company (JCP): Free Stock Analysis Report
Kohl’s Corporation (KSS): Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
June 07, 2017 at 08:47PM
from Zacks Equity Research
Pipeline operator Williams Partners L.P. WPZ recently announced the results of a thorough analysis of the economic impact of the proposed Northeast Supply Enhancement Project (“NSEP”). The study was authored by researchers at Rutgers University who stated that it will have numerous positive effects including an addition of $327 million to the GDP and much more. The $1 billion energy infrastructure investment project – devised to enhance natural gas shipments to the New York City by winter of 2019-20 – is in line with President Trump’s increasing focus on the energy sector.
The researchers stated that the design and construction of the NSEP will add value to the economic activities of Pennsylvania, New Jersey and New York. It will create 3,186 direct and indirect jobs during the construction period, which will generate approximately $234 million in labor income in the short run. It will also be in line with Trump’s promise of creating 25 million new jobs over the next decade in the country.
State-wise Impact
New Jersey is expected to achieve $239.9 million additional economic activity from the design and construction of NSEP. The state will witness 2,411 direct and indirect job creations with approximately $172 million in labor income. The state will receive $16.4 million in local and state taxes due to NSEP.
Pennsylvania is supposed to receive $63.6 million additional economic activity from NSEP. The state can gain about 500 direct and indirect jobs with approximately $45.6 million in labor income. The state will receive $3.9 million in local and state taxes due to the project.
New York can add $23.7 million more to its GDP due to the NSEP. The state will obtain 276 more direct and indirect jobs with approximately $16.6 million in labor income. The state will receive $2.3 million in local and state taxes due to NSEP.
Once the pipeline becomes operational, Williams Partners will pay $11.1 million in taxes to the local municipal and county governments.
About NSEP
The NSEP, proposed by Williams Partners to expand the partnership’s Transcontinental pipeline, was filed with the Federal Energy Regulatory Commission in Mar 2017. The expansion is designed to address the growing demand for natural gas in the Northeastern U.S. The pipeline ships natural gas from the Gulf Coast of Texas, Louisiana, Mississippi, and Alabama, through Georgia, South and North Carolina, Virginia, Maryland, and Pennsylvania to the New Jersey and New York City area.
NSEP includes 10 miles of pipe in Pennsylvania, 3 miles in New Jersey and 23 miles of pipe offshore in both New Jersey and New York state waters. The project also includes a new compressor facility in New Jersey and additional horsepower at a compressor facility in Pennsylvania.
About the Partnership
Tulsa, OK-based Williams Partners is a publicly traded master limited partnership with midstream infrastructure assets that are involved in transporting, gathering and processing natural gas and natural gas liquids. The partnership also has an ownership interest in pipeline systems that are spread across 33,000 miles – transporting natural gas from North American resource plays to markets with demand for clean power generation, heating, and industrial use.
Price Performance
In the last six months, Williams Partners’ units have outperformed Zacks categorized Energy & Pipeline – Master Limited Partnership (MLP) industry. William Partners’ units gained 13.93% compared with the industry’s increase of 11.98%.
Zacks Rank and Stocks to Consider
Williams Partners presently has a Zacks Rank #3 (Hold). Some better-ranked stocks in the oil and energy sector are Delek US Holdings, Inc. DK, Enbridge Energy, L.P. EEP and Canadian Natural Resources Limited CNQ. All these stocks flaunt a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Delek US Holdings’ sales for 2017 are expected to increase 71.35% year over year. The company came up with a positive average earnings surprise of 60.68% in the last four quarters.
Enbridge Energy’s sales for the second quarter of 2017 are expected to increase 13.17% year over year. The partnership delivered an average positive earnings surprise of 38.22% in the last four quarters.
Canadian Natural Resources’ sales for 2017 are expected to increase 47.41% year over year. The company delivered a positive earnings surprise of 30.77% in the first quarter of 2017.
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Williams Partners LP (WPZ): Free Stock Analysis Report
Enbridge Energy, L.P. (EEP): Free Stock Analysis Report
Delek US Holdings, Inc. (DK): Free Stock Analysis Report
Canadian Natural Resources Limited (CNQ): Free Stock Analysis Report
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Zacks Investment Research
June 07, 2017 at 08:47PM
from Zacks Equity Research
