Equity Related Bonds – Local Collectors Post http://www.localcollectorspost.org/ Mon, 27 Sep 2021 05:50:12 +0000 en-US hourly 1 https://wordpress.org/?v=5.8 https://www.localcollectorspost.org/wp-content/uploads/2021/03/locacollectorspost-icon-70x70.png Equity Related Bonds – Local Collectors Post http://www.localcollectorspost.org/ 32 32 BIOCORP publishes its results for the first half of 2021 https://www.localcollectorspost.org/biocorp-publishes-its-results-for-the-first-half-of-2021/ Mon, 27 Sep 2021 05:34:29 +0000 https://www.localcollectorspost.org/biocorp-publishes-its-results-for-the-first-half-of-2021/

  • Operating income remains stable at 3.88 million euros

  • Half-year result – € 1.2 million

  • Commercial launch of Mallya in pharmacies with Roche Diabetes Care France

  • Technology partnerships for Mallya with Health2Sync and SocialDiabetes

  • Post-period: signature of a major partnership with Novo Nordisk for Mallya and collaboration with Merck in the field of growth hormone

ISSOIRE, France, September 27, 2021– (BUSINESS WIRE) – Regulatory news:

BIOCORP (FR0012788065 – ALCOR / Eligible PEA ‐ PME) (Paris: ALCOR), a French company specializing in the design, development and manufacture of innovative medical devices, presents its half-year financial results as of June 30, 2021(1).

Éric Dessertenne, CEO of BIOCORP, declared: “The the first six months of the current year are in line with the second half of 2020. Our teams have been very active in commercial development, technological and commercial partnerships to position our Mallya connected object on high potential markets, such as this was the case in Taiwan with Health2Sync and in France with Roche Diabetes Care. At the same time, uncertainties over the protracted COVID-19 crisis and Big Pharma’s priority choices have clearly slowed patient uptake of Mallya. Thus, the commercial achievements of our alliances with Sanofi and Roche have for the moment only a marginal impact and should not produce their full effect until next year. Despite this, BIOCORP continued its R&D efforts as evidenced by our partnership with Diabeloop. Overall, we have continued to invest heavily in the development of our range of connected solutions, particularly in the field of pre-filled syringes available in Injay and Mallya for new therapeutic areas. The stagnation of our half-year performance should be viewed as cyclical. The major partnerships signed for Mallya outside the first half of the year, such as our agreement with Merck in the field of growth hormone and that with Novo Nordisk in diabetes, confirm our technological advance and the quality of the solutions that we can eventually offer. to patients. Finally, from a financial point of view, these new alliances allow us to look forward with optimism to the months to come which, we are convinced, will give BIOCORP a whole new dimension. “

Half-year results at June 30, 2021

  • Sales for the first half of 2020 amounted to € 3.593K compared to € 3,809K a year earlier. This relative decrease is mainly explained by the postponement of stages in the second half of the year.

  • Operating expenses for this half-year were up 9.7% over one year to € 5.214k (vs. € 4.752k in H1 2020) due to the increase in “salaries and charges”. As of June 30, 2021, the Company had 67 employees compared to 57 a year earlier.

  • Taking these elements into account, the operating result for the first half of the year is negative at (1.330 K €) against a negative result of 961 K € in the first half of 2020.

  • The financial result shows a reduced loss of (50 K €) compared to (79 K €) a year earlier, resulting mainly from interest on bonds.

  • Exceptional items are positive at € 30K in the first half of the year, compared to € 181K in the first half of 2020.

  • From a tax standpoint, BIOCORP estimates that it has acquired a Research Tax Credit (CIR) of 125.6 K € as of June 30, 2021. The CIR and CII had been estimated at 80.7 K € as of June 30, 2020. As of June 30, 2020 As of June 30, 2019, a receivable of € 74,000 in respect of corporation tax has been recorded.

  • Taking into account the above elements, the net result at June 30, 2021 is negative at – € 1.224 K compared to € 778 K in the first half of 2020.

  • At the end of the period, BIOCORP posted free cash flow of € 1.818K and a level of equity of € 1.610K.

In K €

June 30the, 2021

June 30the, 2020

Sales

3,593

3,809

Other exploitation products

291

-19

Total of exploitation products

3 884

3 791

Net operating income

-1 330

-961

Net financial income

-50

-79

Exceptional item

30

181

Research Tax Credit & Innovation Tax Credit

-126

-81

Net profit

-1 224

-778

Highlights of the first half of 2021

  • Technological integration of Mallya with digital applications developed by the Spanish company SocialDiabetes and the Taiwanese company Heath2Sync: opening of new high potential markets with more than 850,000 users.

  • Co-development agreement with Diabeloop in personalized diabetes management: integration of automated solutions with the smart insulin pen market.

  • Launch of Mallya in pharmacies by Roche Diabetes Care France: solution to improve the daily life of diabetic patients.

Key post-period factors

  • Partnership agreement with Merck for the development of a specific version of the Mallya device in the field of Human Growth Hormone (upfront of € 3 million).

  • Major global contract with Novo Nordisk, a major player in diabetes worldwide, to develop a specific version of Mallya for their pens.

Objectives & outlook for the second half of 2021

After a first half of 2021 still marked by the COVID context and during which the first sales of Mallya have not yet produced their effects, the announcements of September 2021 show an acceleration of BIOCORP’s activities, both in terms of research and expansion. of its product line.

  • Connected objects: BIOCORP is stepping up the development of new generations of Mallya for all of its industrial partners (Sanofi, Roche and Novo Nordisk). The favorable impact of Mallya’s sales on the Company’s sales will take full effect in 2022. At the same time, BIOCORP is actively preparing the first applications of Injay, a pre-filled syringe that automatically collects injection data.

  • Traditional packaging activity: the Company intends to pursue its opportunistic strategy of small and medium series across its entire range of packaging products (cannulas, bottles, caps, pipettes, etc.).

(1) BIOCORP’s Board of Directors, which met on September 24, 2021, approved the accounts for the first half of 2021. During this meeting, Émilie Gardette resigned from her mandate as director. Éric Dessertenne, CEO of BIOCORP, was co-opted as a replacement. His co-option will be subject to ratification at the next General Meeting of the Company.

The 2021 half-year financial report is available on the Company’s website.

ABOUT BIOCORP
Recognized for its expertise in the development and manufacture of medical devices and delivery systems, BIOCORP has today acquired a leading position in the connected medical devices market thanks to Mallya. This intelligent sensor for insulin injection pens allows reliable monitoring of the injected doses and thus offers better compliance in the treatment of diabetic patients. Available for sale from 2020, Mallya is the spearhead of BIOCORP’s product portfolio in terms of innovative connected solutions. The company has 70 employees. BIOCORP has been listed on Euronext since July 2015 (FR0012788065 – ALCOR).
For more information, please visit www.biocorpsys.com.

See the source version on businesswire.com: https://www.businesswire.com/news/home/20210926005004/en/

Contacts

BIOCORP
Sylvaine Dessard
Senior Director of Marketing and Communication
rp@biocorp.fr
+ 33 (0) 6 88 69 72 85

Bruno ARAB
Press officer
barabian@ulysse-communication.com
+33 (0) 6 87 88 46 26


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Raymond James Financial – Consensus indicates potential rise of 12.0% https://www.localcollectorspost.org/raymond-james-financial-consensus-indicates-potential-rise-of-12-0/ Sat, 25 Sep 2021 12:56:15 +0000 https://www.localcollectorspost.org/raymond-james-financial-consensus-indicates-potential-rise-of-12-0/

Raymond James Financial with the ticker code (RJF) now have 8 analysts covering the stock with the consensus suggesting a rating of “Buy”. The range between the high target price and the low target price is between 143 and 66.67 by calculating the average target price that we see 102.63. Now, with the previous closing price of 91.6, that would imply a potential rise of 12.0%. There is a 50 day moving average of 91.15 and the 200 moving average is now at 87.12. The company has a market capitalization of $ 19,165 million. You can visit the company’s website by visiting: http://www.raymondjames.com

Raymond James Financial, through its subsidiaries, is engaged in the underwriting, distribution, trading and brokerage of equity and debt securities in the United States, Canada and Europe. The Private Client segment provides securities transaction services including the sale of stocks, mutual funds, fixed income products, and insurance and annuity products to retail clients; mutual fund; investment advisory and margin lending services; custody, trading, research and other support services; diversification strategies and alternative investment products; and borrowing and lending of securities to and from other brokers, financial institutions and other counterparties. The Capital Markets segment provides equity products to institutional clients; investment banking services, including public and private equity financing for corporate clients, merger and acquisition advisory services, and strategic and financial advisory services; and taxable and tax-exempt fixed income products, such as municipal, corporate, government agency and mortgage-backed bonds, and whole loans. This segment also offers public financing and debt underwriting services, interest rate derivatives and tax credit funds; and publishes research on companies in various industries. The Asset Management segment offers asset management, portfolio management and related administrative services to retail and institutional clients; and administrative support services, such as record keeping. The RJ Bank segment provides insured deposit accounts; commercial and industrial loans, commercial real estate (CRE) and CRE construction, tax-exempt, residential, secured against securities and other loans; and loan syndication. The Others segment is engaged in private equity activities, including various direct and third party private equity investments; and private equity funds. The company was founded in 1962 and is headquartered in St. Petersburg, Florida.

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UO Board of Directors discusses student re-engagement https://www.localcollectorspost.org/uo-board-of-directors-discusses-student-re-engagement/ Fri, 24 Sep 2021 21:38:20 +0000 https://www.localcollectorspost.org/uo-board-of-directors-discusses-student-re-engagement/

Days before UO freshmen moved into dorms, the University of Oregon board reviewed the university’s plans to re-engage thousands of students in campus life after their long absence imposed by COVID-19.

The board’s agenda at its September quarterly meeting also included an update on the OU’s short and long-term finances and approval of two construction projects, as well as briefings. on UO’s institutional diversity, equity and inclusion work and student success initiatives.

The meeting was the first in-person board meeting on campus since March 2020. It also provided an opportunity to formally welcome the seven new directors to the 15-member board, who were appointed by Governor Kate Brown and confirmed by the Oregon Senate earlier this year.

Chairman of the Board, Chuck Lillis, noted at the start of the meeting that “almost half of the directors are new,” which is a first since the creation of the UO Board of Directors in 2013.

“Thank you to all of you for taking the time to step away from your very busy schedules to come and help and assist our very special university,” said Lillis. Service on the board “is the continued pursuit of academic excellence and all of you, I know, are as passionate about it as we all are.”

President Michael Schill said the start of the fall semester marks an “important moment” for the OU with the resumption of mostly face-to-face teaching and the coming together of the campus community.

“It’s going to take a while, I think, for all of us – faculty, students, staff – to get over some of the anxiety we all feel” about going back to campus amid concerns about the variant. delta, he said. “I think it’s important to recognize and understand this feeling.”

“Fortunately,” added Schill, “we are well prepared in our multi-level approach to prevention, response and support. This will allow us to return safely to campus.

This plan includes, more importantly, a vaccination requirement for students and employees, Schill said, as well as a weekly testing requirement for those who claim an exemption from that requirement. More than 95% of students and employees surveyed are fully immunized, according to the latest UO figures, and more than 90% are now saying.

Other strategies implemented by the OU include a requirement to cover the face, an internal testing program, a robust case management strategy, and environmental safety tactics including improved ventilation and deep cleaning.

Schill also highlighted recent news that UO easily surpassed its fundraising goal of $ 3 billion and expressed confidence that UO’s fall registration numbers will be high.

“We very much hope that this will be one of our most important, diverse and academically prepared courses,” he said.

Part of the challenge for the fall semester will be welcoming and successfully integrating two full undergraduate classes who have yet to have in-person college experience at Eugene, said President Patrick Phillips.

“We know that students have suffered more than any other (academic) group during the pandemic,” he said, pointing to data that showed high rates of depression among certain groups of students. “As a public institution, we need to take these numbers seriously and show our commitment to dealing with them.”

Kris Winter, Associate Senior Vice President, Student Life, and Grant Schoonover, Senior Director of Undergraduate Academic Success, presented the university’s initiatives to engage students, including a summer bridging program for ease the transition to college, new academic peer coaching, an expanded academic program and academic co-engagement through freshman interest groups, and greater counseling and mentoring support through pairs.

Isiah Boyd, president of student associates at the University of Oregon, told administrators that the student organization is also focused on the same goal.

“One of our top priorities is to make the campus feel like a campus again,” he said.

In the remaining cases, the Trustees approved without dissent a proposed operating expenditure authorization for fiscal year 2022.

Jamie Moffitt, vice president of finance and administration and chief financial officer, said UO’s revenue in the education and general fund remained stable in the fourth quarter of fiscal year 2020-2021, while the expenses decreased by $ 9 million due to one linked to COVID-19. time savings associated with freezing university hiring and reducing supplies and services.

However, the loss of at least 800 freshmen in the fall of 2020 due to the pandemic has significantly affected the university’s finances for 2020-21, Moffitt said, and will continue to hurt education and to the general fund over the next three years due to the loss of tuition fees. dollars.

The Board of Trustees approved $ 15 million in funding for preliminary expenses related to Phase 2 of the Phil and Penny Knight Campus for Accelerating Scientific Impact. This work will include schematic design, property studies and assessments, site preparation and other pre-construction costs for a second building.

The directors also gave the green light for a major renovation of Huestis Hall at the Lokey Science Complex. Planned upgrades include increased programmatic square footage, more flexible lab space, modernized public spaces, as well as new mechanical and plumbing systems and network infrastructure. The $ 63.6 million project will largely be funded by state guaranteed bonds, which the Oregon legislature has already approved.

The Board of Directors received an update on the Knight Campus for Accelerating Scientific Impact from Executive Director Robert Guldberg. Guldberg highlighted the new businesses and ventures that were launched from campus in its first year, as well as new hires of staff and university programs, and the establishment of the COVID-19 MAP testing program. UO.

In July, the Knight Campus was selected to partner with five other institutions to work on understanding peak physical performance, thanks to a $ 220 million grant from the Joe and Clara Tsai Foundation.

“It’s remarkable that it’s only been a year since we moved” into the building, said Guldberg.

On the second day of the meeting, the board heard an update on UO’s institutional initiatives in diversity, equity and inclusion.

An interdisciplinary team presented information on their data collection work so far, which will help inform the institution’s plans to increase the recruitment and retention of more diverse students and employees.

Directors asked how the OU could use employee diversity data to gain more buy-in from individual departments to adopt tactics to increase diversity in candidate pools and what common barriers exist to doing so. bring people from minority groups to the campus.

“Higher education has a problem with tradition: we tend to do things the way they always have been done,” said Yvette Alex-Assensoh, vice president for equity and inclusion. “So when we have a job offer in an academic department, we go through existing professional networks…. The problem is that in America our networks are racially and ethnically limited.

In addition, Kimberly Johnson, Vice-President, Undergraduate Studies and Student Success, briefed administrators on UO’s student success initiatives. One of the big areas of achievement, Johnson said, is the increase in the four-year graduation rate of UO students from 49.9% in 2016 to 61.3% in 2020, achieving a target set by Schill, although she noted that there is “still more progress and work to be done.”

Moving forward, Johnson said his team has identified some key metrics to further improve student success, including measuring student work placements within six months of graduation, learning outcomes base expressed in student experience and debt-upon-graduation surveys.

To improve them, “we cannot operate in silos,” she said. “Students need to navigate and connect with the whole institution. It forces us as departments to fit together and be more student-centered, so that our services are meaningful to all students. “

Administrators asked if it was possible to further increase UO graduation rates, if the administration’s definition of student success fit the students’ perspective and plan to help students catch up. their four-year graduation goal if they fell behind due to COVID -19 disruptions.

Finally, Leah Ladley, the UO’s internal auditor, reviewed her office load with the Trustees and provided a report on the work her staff did during the fiscal year as well as on projects underway. course and to come.

By Saul Hubbard, University Communications


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US stocks end stable but post gains for the week after volatile trading https://www.localcollectorspost.org/us-stocks-end-stable-but-post-gains-for-the-week-after-volatile-trading/ Fri, 24 Sep 2021 20:37:00 +0000 https://www.localcollectorspost.org/us-stocks-end-stable-but-post-gains-for-the-week-after-volatile-trading/

U.S. stocks ended flat on Friday, after indices at times struggled to head amid a sharp drop in blue chip Nike Inc., but benchmarks posted gains for the week to following two solid sessions for the wider stock market.

How Do Stock Indices Trade?
  • The Dow Jones Industrial Average DJIA,
    + 0.10%
    increased 33.18 points, or 0.1%, to 34,798.

  • The S&P 500 SPX,
    + 0.15%
    up 6.5 points, or nearly 0.2%, to 4,455.48

  • The Nasdaq COMP Composite Index,
    -0.03%
    slipped 4.54 points, or less than 0.1%, to 15,047.70.

On Thursday, the Dow Jones rose 507 points, or 1.48%, to 34,765, its biggest two-day point and percentage gain since March 8, 2021, according to Dow Jones data. The S&P 500 rose 53 points, or 1.21%, to 4,449, and the Nasdaq Composite gained 155 points, or 1.04%, to 15,052.

For the week, the Dow Jones rose 0.6% while the S&P 500 was up 0.5% and the Nasdaq gained less than 0.1%, according to FactSet data.

What drove the market?

U.S. stock indexes swung between gains and losses in mixed trading on Friday, threatening to end the recovery after the Federal Reserve’s policy meeting this week, as the market fell back under pressure amid concerns over China , COVID-19 and US politics.

Shares have been weighed down by a long list of concerns ranging from disruptions in the global supply chain during the pandemic to the impending deadline of the federal debt ceiling in the United States and to the debt problems of real estate giant China. Evergrande Group, according to Matt Peron, research director at Janus Henderson. He said in a telephone interview on Friday that “the market has been a bit under pressure in recent weeks”, calling the consolidation “healthy” after its strong advance.

Investors were worried on Friday about Evergrande’s ability to meet its obligations, as well as the “huge leverage effect” of the Chinese real estate sector, but the potential for damage beyond its borders would likely be “very limited” Alonso Garza, an investment specialist at JP Morgan Private Bank in Miami, said in a telephone interview on Friday. “It wouldn’t be a disaster for the financial system outside of China,” Garza said, as other countries appear to have “very little exposure” to Chinese real estate.

The tech-laden Nasdaq Composite Index was under pressure as Treasury yields began to climb steadily following the Fed’s policy statement on Wednesday, with the benchmark 10-year Treasury rate at about 1.46% Friday. Rising returns affect the discount rate used for stock valuations, and technology stocks are particularly sensitive to higher returns because of the rapid earnings growth assumptions built into their valuations.

The Fed meeting revealed that central bankers were forecasting a possible rate hike in 2022, signaling that they were ready “to get into this inflation situation and make sure it is contained,” Garza said. at MarketWatch. While Garza believes the rise in inflation is transient, with JPMorgan anticipating a first rate hike in early 2023, he said it was good to see the Fed “ready to act if need be.”

“You can nibble on market valuations a bit, but runaway inflation could destroy everything,” Garza said.

China’s crackdown on bitcoin on Friday also hurt some tech stocks. Coinbase COIN crypto-exchange,
-2.39%
fell, as did the Robinhood HOOD retail platform,
-2.24%,
which in the last quarter made more than half of its transaction-related income through crypto.

“The stock markets continue to reflect a tug-of-war between the bulls and the bears, with markets heading for a mixed week,” wrote Mark Hackett, head of investment research at Nationwide.

Friday’s lackluster action comes after two strong days of gains for Wall Street stocks following the Fed policy meeting on Wednesday. The discussion of the Fed cutting its bond purchases has been an “overhang” for the market, Peron said, as investors waited for a possible announcement this year.

Indeed, Cleveland Federal Reserve Chairman Loretta Mester said on Friday that she supported the start of the reduction in monthly purchases of Treasury bills and mortgage-backed securities by the Fed from November, with a view to ending it in mid-2022. Mester is not currently a voting member. Federal Open Market Committee, but it will be next year.

Investors also continue to watch for the latest news on China’s Evergrande, a real estate developer that helped spark a rout on Monday, amid fears of global contagion from the leveraged company. As of Thursday, bondholders still had not received money from Evergrande 3333,
-11.61%,
who was due to make an interest payment of $ 83.5 million on dollar bonds, the Wall Street Journal reported.

The company has a 30-day grace period to make a payment, but otherwise Evergrande could trigger a default. Those stocks fell 12% in Hong Kong on Friday. Elsewhere, media reported on Friday that the company’s electric vehicle unit had not paid suppliers for months, with employees also not receiving any wages for September.

Meanwhile, House Speaker Nancy Pelosi on Wednesday pledged not to let public funding expire next week, allaying some investor concerns that the policy could lead to a partial government shutdown and default in the government. American debt which could disrupt the markets.

Separately, President Joe Biden urged those eligible to “go for the recall,” in a speech Friday, following an unusual move by the head of the Centers for Disease Control and Prevention, which rescinded the recommendation to ” a group of advisers that booster doses of a COVID-19 vaccine be offered only to people over 65 and those with weakened immune systems, advocating that it also be offered to frontline workers, including nurses, teachers and supermarket staff.

On the data front, new home sales in the United States rose 1.5% to an annual rate of 740,000, the government said on Friday. The figure is the number of homes that would be sold over a one-year period if the same number were purchased each month based on the sales rate in July. Compared to a year ago, sales are down 24%. The median forecast of economists polled by MarketWatch was that new home sales would hit an annual rate of 720,000 for the month of August.

Which companies were the center of attention?
  • Actions of Nike Inc.
    NKE,
    -6.26%
    fell about 6.3% after the sportswear maker reported quarterly sales lower than Wall Street expectations, and said wages and overheads weighed on revenues.

  • Costco Wholesale Corp.
    COST,
    + 3.31%
    Shares rose 3.3% as the retailer topped $ 60 billion in single-quarter net sales for the first time, hit $ 5 billion in annual profits, and grew at its fastest pace in over 20 years.

  • Actions of Carnival Corp. CCL rose about 3% after the cruise line provided an update on its third quarter.

  • Deutsche Bank analyst Michael Linenberg initiated a “short-term catalytic buy buy” on Delta Air Lines Inc.DAL stock rose 1.84% on Friday, saying he believes the underperformance so far this year will turn into outperformance in the coming months. Delta stock climbed 2.2%

  • Actions of Roku Inc. ROKU,
    -3.78%
    fell 3.8% after Wells Fargo analyst Steven Cahall lowered the stock to equal weight versus overweight.

How did other assets trade?
  • The yield of the 10-year Treasury bill TMUBMUSD10Y,
    1.454%
    rose about 5 basis points to 1.459% on Friday. For the week, the yield rose about 9 basis points.

  • The ICE US Dollar DXY index,
    -0.04%,
    a measure of the currency against a basket of rivals, fell nearly 0.2% on Friday but was up about 0.1% for the week.

  • Oil futures soared, with the US benchmark CL00,
    + 0.80%
    rising 0.9% to $ 73.98 per barrel. GC00 gold futures contracts,
    -0.13%
    also ended higher, up 0.1% to $ 1,751.70 an ounce, but was relatively stable for the week.

  • In Asia, the Hong Kong Hang Seng HSI index,
    -1.30%
    fell 1.3% and recorded a weekly decline of 2.9%, while China’s CSI 300,000 300 index,
    -0.08%
    ended virtually unchanged and recorded a weekly decline of 0.1%. The Nikkei 225 NIK index,
    + 2.06%
    jumped 2% on the session, helping to narrow a weekly decline to 0.8%.

  • In Europe, the Stoxx Europe 600 SXXP,
    -0.90%
    closed 0.9% lower but recorded a weekly gain of 0.3%, while the FTSE 100 UKX index,
    -0.38%
    closed 0.4% lower but posted a weekly advance of 1.3%.

—Barbara Kollmeyer contributed to this report


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Stocks falter as Chinese crackdown engulfs crypto: Markets envelop https://www.localcollectorspost.org/stocks-falter-as-chinese-crackdown-engulfs-crypto-markets-envelop/ Fri, 24 Sep 2021 13:49:40 +0000 https://www.localcollectorspost.org/stocks-falter-as-chinese-crackdown-engulfs-crypto-markets-envelop/

(Bloomberg) – Stocks have struggled to tread after China stepped up its broad regulatory crackdown on cryptocurrencies. Bitcoin, Ether, and other digital tokens have plummeted.

Bloomberg’s Most Read

In another blow to investor morale, the world’s second-largest economy said crypto-related transactions would now be considered illicit financial activity. The move hits the heart of a booming market this year, while adding to concerns about increasingly stringent regulations in a variety of industries, from tech to after-school tutoring and ridesharing.

The S&P 500 came out of session lows as the dollar rose. The Nasdaq Golden Dragon China Index – which tracks some of the largest Chinese companies listed in the United States – and crypto-related stocks such as Coinbase Global Inc. and Marathon Digital Holdings Inc. have collapsed.

This week has shaken markets, with analysts citing concerns over the Federal Reserve’s withdrawal from stimulus measures, contagion risks from struggling developer China Evergrande Group and pessimism over the passage of a bipartisan bill. on infrastructure in the United States.

Traders withdrew $ 28.6 billion from U.S. equity funds in the week to September 22 – the biggest buyout since February 2018, according to a note from Bank of America Corp., which cites data from ‘EPFR Global.

For more market analysis, read our MLIV blog.

Some of the main movements in the markets:

Actions

  • The S&P 500 was little changed at 9:56 a.m. New York time

  • The Nasdaq 100 fell 0.6%

  • The Dow Jones Industrial Average has changed little

  • The Stoxx Europe 600 is down 0.7%

  • The MSCI World index fell 0.3%

Currencies

  • Bloomberg Dollar Spot Index rose 0.3%

  • The euro fell 0.2% to $ 1.1716

  • The British pound lost 0.3% to $ 1.3685

  • The Japanese yen fell 0.3% to 110.66 per dollar

Obligations

  • The yield on 10-year treasury bills rose two basis points to 1.45%

  • German 10-year rate rose three basis points to -0.22%

  • UK 10-year yield rose two basis points to 0.93%

Merchandise

  • West Texas Intermediate crude rose 0.3% to $ 73.50 a barrel

  • Gold futures fell 0.3% to $ 1,743.80 an ounce

Bloomberg Businessweek Most Read

© 2021 Bloomberg LP


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Stock markets could rise as Sensex looks at 60,000; Vedanta, computer shares in focus https://www.localcollectorspost.org/stock-markets-could-rise-as-sensex-looks-at-60000-vedanta-computer-shares-in-focus/ Fri, 24 Sep 2021 02:56:46 +0000 https://www.localcollectorspost.org/stock-markets-could-rise-as-sensex-looks-at-60000-vedanta-computer-shares-in-focus/

MUMBAI: Indian stock markets could see another stellar run on Friday, with SGX Nifty pointing to a higher start for Indian benchmarks. Domestic stocks hit record highs on Thursday, with the Sensex ending just short of hitting 60,000.

Asian stocks rose on Friday and Treasury yields kept renewed optimism about the economic outlook and allayed fears of contagion from the China Evergrande group debt crisis.

Shares surged in Japan and held steady in Hong Kong and China, where Evergrande’s fate remains uncertain in the absence of any announcement of an interest payment on a dollar bond due to be paid on Thursday. Global market unease over Evergrande has faded, but it’s unclear whether Beijing plans to deal with the fallout of a possible default by the world’s most indebted developer.

US futures edged higher after the S&P 500’s biggest two-day gain since July. Wall Street’s advance was led by economically sensitive sectors like energy and finance, as investors embraced the idea that an impending cut in Federal Reserve stimulus shows confidence in the recovery after the pandemic. The dollar was stable and oil continued its rise.

Mining giant Vedanta has announced that it will delist its US depository shares and concentrate all trading of its shares on BSE and NSE. “The company also intends to delist these ADSs and the underlying stocks and terminate reporting obligations under the US Securities Exchange Act of 1934, as amended ….

IT consultancy Accenture forecast first quarter revenue on Thursday that was higher than analysts’ estimates, expecting strong demand for its cloud and security services as businesses delay return to offices due to the variant. Delta. This could increase the shares of Indian IT companies.

The prospect of tightening monetary policy has spurred a global bond selloff. Long-term Treasury yields rose the most in 18 months, as traders advanced their expectations for the Fed’s first rate hike at the end of 2022. The Bank of England opened the door to a rate hike 2021, lowering gilts to 10 years. Yields also surged on sovereign debt in Australia and New Zealand.

Equity investors are encouraged by predictions that the strain of the delta virus and supply chain grunts linked to the pandemic will only cause a temporary setback to the economic reopening. Central banks have also pledged to phase out the stimulus measures. But a continued rise in long-term borrowing costs could undermine optimism if it ends up undermining confidence in the prospects for recovery.

(Bloomberg contributed to the story)

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Zacks.com highlights include: Euroseas, Grindrod Shipping, Global Ship Lease, Bluegreen Vacations and Belden https://www.localcollectorspost.org/zacks-com-highlights-include-euroseas-grindrod-shipping-global-ship-lease-bluegreen-vacations-and-belden/ Tue, 21 Sep 2021 11:58:24 +0000 https://www.localcollectorspost.org/zacks-com-highlights-include-euroseas-grindrod-shipping-global-ship-lease-bluegreen-vacations-and-belden/

For immediate release

Chicago, IL – September 21, 2021 – The shares in this week’s article are Euroseas Ltd. ESEA, Grindrod Shipping Holdings Ltd. GRIN, Global Ship Lease, Inc. GSL, Bluegreen Vacations Holding Corporation BVH and Belden Inc. BDC.

5 stocks with recent price force defying market volatility

Volatility returned to Wall Street after an impressive rally in the first eight months of this year. Investors are concerned about slowing U.S. economic growth, following the rapid spread of the Delta variant of COVID-19. Market participants are also worried that rising inflationary pressures will force the Fed to abandon its ultra-dovish monetary policies.

It’s mid-September and the three major stock indexes – the Dow, S&P 500 and Nasdaq Campsite – are down 2.2%, 2% and 1.4%, respectively, since the start of the month.

The past week has been disappointing. The Dow Jones fell 0.1%, marking its third consecutive weekly decline. This was the blue-chip index’s longest streak of weekly losses since the end of four weeks of losses on September 25, 2020. The market’s benchmark S&P 500 fell 0.6%, reflecting its second consecutive weekly decline. The Nasdaq Composite fell 0.5%, recording its second consecutive weekly loss.

On August 27, Fed Chairman Jerome Powell at his annual Jackson Hole Symposium reported the central bank’s $ 120 billion-per-month bond buying program being cut back. Right now, the Fed is buying $ 80 billion in Treasury bonds and $ 40 billion in mortgage-backed bonds per month as the pandemic-induced monetary stimulus. The central bank will hold its next FOMC meeting on September 21-22.

Wall Street is expected to remain volatile for the foreseeable future, despite the fact that the fundamentals of the US economy remain strong and the overall market trend remains encouraging.

At this point, wouldn’t it be safer to look for winning stocks that are likely to earn more?

It looks good? Here’s how to run it:

We must mainly target stocks that have just been bullish. In fact, stocks that have seen their prices rise recently are likely to continue their momentum.

If a stock is continually trending upward, there must be a solid reason, otherwise it would likely have collapsed. So looking at stocks that can beat the benchmark they’ve set for themselves seems rational.

However, recent strong prices alone cannot create magic. Therefore, you need to set other relevant parameters to create a successful investment strategy.

Here’s how you should create the screen to shortlist current and potential winners.

For the rest of this article on the screen of the week, please visit Zacks.com at: https://www.zacks.com/stock/news/1798232/5-stocks-with-recent-price-strength-defying-market-volatility

Disclosure: Officers, directors and / or employees of Zacks Investment Research may own or have sold securities short and / or hold long and / or short positions in options mentioned in this document. An affiliated investment advisory firm may own or have sold securities short and / or hold long and / or short positions in options mentioned in this document.

About the screen of the week

Zacks.com created the first and best filtering system on the web, earning it the “# 1 Stock Filtering Site” award by Money Magazine. But powerful screening tools are just the start. That’s why Zacks created the Screen of the Week to highlight profitable stock picking strategies that investors can actively use.

Solid stocks that should make the news

Many are poorly publicized and fall under the radar of Wall Street. They are practically unknown to the general public. Yet the 220 “strong buys” in today’s Zacks ranking were generated by the stock picking system which more than doubled the market from 1988 to 2016. Its average gain was + 25% per year. See these high potential actions for free >>.

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Zacks Investment Research is under common control with affiliated entities (including a broker and investment advisor), which may engage in transactions involving the aforementioned securities for clients of such affiliates.

Contact: Jim Giaquinto

Company: Zacks.com

Telephone: 312-265-9268

Email: pr@zacks.com

Visit: www.Zacks.com

Zacks.com provides investment resources and informs you of these resources, which you can choose to use in making your own investment decisions. Zacks provides information on this resource to you subject to Zacks’ “Terms and Conditions of Service” disclaimer. www.zacks.com/disclaimer.

Past performance is no guarantee of future results. The potential for loss is inherent in any investment. This material is provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold any security. No recommendation or advice is given as to whether an investment is suitable for a particular investor. It should not be assumed that any investment in any identified and described securities, companies, sectors or markets was or will be profitable. All information is current as of the date hereof and is subject to change without notice. The views or opinions expressed may not reflect those of the company as a whole. Zacks Investment Research does not engage in investment banking, market making or securities asset management activities. These returns come from hypothetical portfolios composed of stocks with a Zacks rank = 1 that have been rebalanced monthly without any transaction costs. These are not the returns of actual equity portfolios. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for more information on the performance numbers displayed in this press release.

5 actions in the process of doubling

Each has been handpicked by a Zacks expert as the # 1 favorite stock to earn + 100% or more in 2021. Previous recommendations have climbed + 143.0%, + 175.9%, +498 , 3% and + 673.0%.

Most of the stock in this report is flying under Wall Street’s radar, which provides a great opportunity to get into the ground floor.

Today, discover these 5 potential circuits >>

Click to get this free report

Belden Inc (BDC): Free Stock Analysis Report

Euroseas Ltd. (ESEA): Free Stock Analysis Report

Global Ship Lease, Inc. (GSL): Free Inventory Analysis Report

Grindrod Shipping Holdings Ltd. (GRIN): Free Stock Analysis Report

Bluegreen Vacations Holding Corporation (BVH): 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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Volatility ETFs explode as China’s Evergrande fears upsetting global markets https://www.localcollectorspost.org/volatility-etfs-explode-as-chinas-evergrande-fears-upsetting-global-markets/ Mon, 20 Sep 2021 20:38:23 +0000 https://www.localcollectorspost.org/volatility-etfs-explode-as-chinas-evergrande-fears-upsetting-global-markets/

TThe CBOE volatility index and exchange-traded funds linked to the VIX surged on Monday over fears of contagion from China’s real estate market problems spreading to global markets.

Among Monday’s top performing non-leveraged ETFs, the iPath Series B S&P 500 VIX Short Term Futures ETN (NYSEArca: VXX) increased by 9.5% and the ETF ProShares VIX Short-Term Futures (NYSEArca: VIXY) advanced 9.3%. Meanwhile, the CBOE volatility index climbed 19.9% ​​to 25.0, its highest level since mid-May.

“It’s a surprise opening Monday,” Zhiwei Ren, portfolio manager at Penn Mutual Asset Management, told The Wall Street Journal. “We’re definitely a little more careful at this point. “

The general market pullback is due to concerns over real estate developer China Evergrande Group, with observers increasingly warning that Beijing could let Evergrande fail and cause heavy losses for its shareholders and bondholders. The Chinese developer’s debt is the highest of any listed property management or development company in the world.

“This is a China-based company whose activities are mostly concentrated in China. That being said, we are still monitoring global markets, obviously from the Treasury Department primarily, including assessing any risk to the US economy and we are ready to respond appropriately if necessary, ”said the attaché. White House press, Jen Pskai, referring reporters to the Treasury Department.

The concern over Evergrande was a perfect trigger for a sell off as investors became more cautious about the risk outlook, especially after the rally that lasted for much of the year. Market watchers have also warned that valuations are looking expensive and have warned that the economic recovery in the United States is weakening due to the spread of the COVID-19 Delta variant.

“At the moment, I don’t see any systemic risk to the global economy in Evergrande’s situation, but there doesn’t need to be systemic risk for markets to be affected,” David Bahnsen, chief investment officer at Le Bahnsen Group, a wealth management company based in Newport Beach, Calif., said in an emailed comment, according to Reuters.

For more market information, visit our news category.

Learn more at ETFtrends.com.

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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Franklin Limited Time Income Trust declares monthly distribution https://www.localcollectorspost.org/franklin-limited-time-income-trust-declares-monthly-distribution/ Mon, 20 Sep 2021 16:15:00 +0000 https://www.localcollectorspost.org/franklin-limited-time-income-trust-declares-monthly-distribution/

SAN MATEO, Calif .– (COMMERCIAL THREAD) – Franklin Limited Time Income Trust [NYSE American: FTF], a closed-end investment company managed by Franklin Advisers, Inc., today announced a distribution of $ 0.0770 per common share, payable on October 15, 2021, to shareholders of record on September 30, 2021 (ex-date of the dividend: September 29, 2021).

The Fund has adopted a managed distribution plan and will pay monthly distributions to common shareholders at a minimum annual fixed rate of 10%, based on the average monthly net asset value (NAV) of the common shares of the Fund. The Fund will calculate the average net asset value for the previous month based on the number of business days in that month on which the net asset value is calculated. The distribution will be calculated as 10 percent of the average net asset value of the previous month divided by 12. Management will generally distribute the amounts necessary to satisfy the plan of the Fund and the requirements prescribed by the excise tax rules and the sub- Chapter M of the Internal Revenue Code. The plan aims to provide shareholders with a fixed, constant, but not guaranteed, minimum distribution rate each month and aims to reduce the discount between the market price and the net asset value of the common shares of the Fund, but there can be no assurance that the plan will succeed in doing so.

Under the managed distribution plan, to the extent that sufficient investment income is not available on a monthly basis, the Fund will distribute long-term capital gains and / or return of capital in order to maintain its level. distribution managed. No conclusions should be drawn about the performance of the Fund’s investments from the amount of the Fund’s distributions or the terms of the Fund’s managed distribution plan.

The Board may change the terms of the Plan or terminate the Plan at any time without notice to shareholders of the Fund. The modification or termination of the plan could have an adverse effect on the price of the common shares of the Fund. The Plan will be subject to a periodic review by the Board, including an annual review of the minimum annual fixed rate to determine whether an adjustment should be made.

With each distribution that does not consist solely of net investment income, the Fund will issue a notice to shareholders and an accompanying press release which will provide detailed information regarding the amount and composition of the distribution and other related information. The amounts and sources of distributions shown in the Notice to Shareholders are estimates only and are not provided for tax reporting purposes. The actual amounts and the sources of the amounts for tax reporting purposes will depend on the Fund’s investment experience during its complete fiscal year and may be subject to change depending on tax regulations. The Fund will send shareholders a Form 1099-DIV for the calendar year which will tell them how to report these distributions for federal income tax purposes.

The Fund may sometimes distribute more than its net investment income and net realized capital gains; therefore, part of the distribution may give rise to a return of capital. A return of capital occurs when some or all of the money shareholders have invested in the Fund is returned to them. A return of capital does not necessarily reflect the investment performance of the Fund and should not be confused with “return” or “income”. Such returns of capital will reduce the total assets of the Fund and, therefore, may have the effect of increasing the expense ratio of the Fund. In addition, in order to achieve the level of distributions expected under its plan, the Fund may have to sell portfolio securities at a less than desirable time.

You can request a copy of the Fund’s current shareholder report by contacting Franklin Templeton’s fund information department at 1-800 / DIAL BEN® (1-800-342-5236) or by visiting franklintempleton.com. All investments involve risk, including possible loss of capital. Fluctuations in interest rates and early mortgage payments will affect the price and performance of the shares of the Fund. Bond prices generally move in the opposite direction of interest rates. When the bond prices of a fund adjust to an increase in interest rates, the fund’s share price may fall. Investments in lower rated bonds carry a higher risk of default and loss of principal. The Fund is actively managed but there can be no assurance that the manager’s investment decisions will produce the desired results. For discussions on portfolio management, including information regarding the Fund’s investment strategies, please see the most recent annual or semi-annual report to shareholders, available at franklintempleton.com or sec.gov.

Franklin Resources, Inc. [NYSE:BEN] is a global investment management organization with subsidiaries operating as Franklin Templeton and serving clients in over 165 countries. Franklin Templeton’s mission is to help clients achieve better results through their investment management expertise, wealth management and technology solutions. Through its specialized investment managers, the company brings extensive capabilities in equities, fixed income, multi-asset solutions and alternatives. With offices in more than 30 countries and approximately 1,300 investment professionals, the California-based company has more than 70 years of investment experience and more than $ 1.5 trillion in assets under management as of August 31, 2021. For more information, please visit franklintempleton.com.


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Systematic global macro strategies are a timely means of diversification https://www.localcollectorspost.org/systematic-global-macro-strategies-are-a-timely-means-of-diversification/ Mon, 20 Sep 2021 05:00:00 +0000 https://www.localcollectorspost.org/systematic-global-macro-strategies-are-a-timely-means-of-diversification/

Institutional investors face a series of difficult market signals resulting from recent spikes in inflation, the potential for reduced fiscal and monetary support, continued low interest rates and high stock valuations. In addition, the recent shift to a positive correlation between bond performance and that of equities has challenged the negative correlation regime of the past decade.

“It’s important for investors to assess what returns they should expect from bond and equity portfolios going forward. And whatever the next step, maybe it won’t offer the same diversification that has worked for them in the past, ”said Adam Rej, head of macro research at Capital Fund Management (CFM). “Now is a good time to diversify your portfolio away from buy and hold strategies, and systematic global macro strategies can be a great source of diversification.”

Systematic Global Macro Strategies (SGM) “could offer excellent low correlations with bond and equity markets. They can potentially offer strong long-term returns, and they also offer exposure to other asset classes, such as commodities and currencies, ”said Rej, noting that CFM is a fully quantitative fund manager. and systematic.

“At CFM, our strategies are backed by a multitude of cutting-edge data sets, many of which require substantial computing power to become useful. This allows us to glean information that more traditional active managers might have difficulty identifying. “

Deciphering the Inflation Signals

With the recent breakthrough of the Consumer Price Index above the lows of the past decade, investors are trying to read the tea leaves of inflation, as well as the Federal Reserve’s intentions to cut back. its asset purchase program to support the economy.

“There are several factors indicating higher price appreciation – there are monetary and fiscal policies, supply chain disruptions and housing market appreciation,” Rej said. “There is also the base effect due to the fall in prices in the first months of the pandemic. All of these factors make current inflation readings strong by recent standards. “

But “for inflation to return, long-term inflation expectations would have to soar. A commodity super-cycle, for example, could be a trigger. We do not yet see any sign of a substantial change in long-term inflation expectations, ”he said. However, “there are certainly upside risks,” he added.

Inversion of correlations

While bond and equity valuations are relatively wealthy by historical standards and have so far delivered strong returns for core portfolios, Rej said he was not so bullish on their valuations. future performance. “We still don’t know how the Fed will react to inflation risk in the medium term,” he said. “The withdrawal of fiscal and monetary support could challenge, or be the litmus test of, these assessments.”

Additionally, investors have relied on the negative correlation between bond and equity performance in recent years to hedge against each other. However, the duration and extent of the positive correlation between stocks and bonds in 2021 could suggest a potential return to the positive correlation regime between bonds and pre-2000 stocks, he warned. “If so, that’s bad news for portfolios focused on bonds and stocks. The advantage of investing in these two traditional asset classes lies in their negative correlation, ”he said. “The lower the better.”


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