News – Green New Deal: Environment Savior or Economy Destroyer?

Do the costs of fighting climate change outweigh the benefits?

(Note: related companies are at base of the
story and all the sources listed in the “Balanced” section)

The Green New Deal (GND) is a congressional resolution proposed by Democratic Congresswoman Alexandria Ocasio-Cortez and Democratic Senator Edward Markey.  It calls for a cut in greenhouse-gas emissions to net zero over 10 years while at the same time guaranteeing family-sustaining jobs, high-quality health care, and affordable housing.  It is supported by several prominent Democratic senators and presidential candidates such as Cory Booker, Kirsten Gillibrand, Kamala Harris, Amy Klobuchar, and Elizabeth Warren.  While the resolution is unlikely to pass and is legally unbinding, it does raise questions about the trade-offs between protecting the environment and supporting economic growth.

News – Do We Need to Prepare for War in Space?

Space Force: Necessary to Maintain U.S. Strategic Dominance?

(Note: related companies are at base of the
story and all the sources listed in the “Balanced” section)

On February 19
th President Trump called for the creation of “Space Force,” a new U.S. Department of Defense branch. To reside as part of the Air Force, Space Force would control U.S. military operations in space. Space Policy Directive 4 directs the Defense Secretary to write a legislative proposal for Congress to set up the Space Force and create a civilian undersecretary of the Air Force for space. The Directive also re-commits the Trump Administration goal of creating Space Command, which would be a separate branch of the U.S. military. According to the Defense Intelligence Agency’s (DIA) Challenges to Security in Space, space-based capabilities provide integral support to military, commercial, and civilian applications. As longstanding technological and cost barriers to space have fallen, more countries and commercial firms are participating in satellite construction, space launch, space exploration, and human spaceflight.

The DIA report goes on to say, “Chinese and Russian military doctrines indicate that they view space as important to modern warfare and view counterspace capabilities as a means to reduce U.S. and allied military effectiveness.” Both reorganized their militaries in 2015, emphasizing the importance of space operations. Both have developed robust and capable space services, including space-based intelligence, surveillance, and reconnaissance. Both states are developing jamming and cyberspace capabilities, directed energy weapons, on-orbit capabilities, and ground-based antisatellite missiles that can achieve a range of reversible to nonreversible effects. Other nations, including North Korea and Iran, as well as non-state organizations, have develop and/or are developing similar capabilities.

Research – Eagle Shipping (EGLE) – Long-term outlook positive

Thursday, March 07, 2019

Eagle Bulk Shipping Inc. (EGLE)

Focusing on strategic execution and positive long-term outlook.

Eagle Bulk Shipping
Inc. is a US-based drybulk owner-operator focused on the Supramax/Ultramax
mid-size asset class, which ranges from 50,000 and 65,000 deadweight tons in
size; these vessels are equipped with onboard cranes allowing for the
self-loading and unloading of cargoes, a feature which distinguishes them from
the larger classes of drybulk vessels and provides for greatly enhanced
flexibility and versatility- both with respect to cargo diversity and port
accessibility. 

Poe Fratt, Senior Research Analyst, Noble Capital Markets, Inc.

Refer to full report for price target, fundamental analysis and rating.

  • Another solid quarter of
    outperformance…
     4Q2018 EBITDA of $23.5 million was below our estimate,
    but well above 3Q2018 EBITDA of $20.2 million. The negative variance to our
    estimate was driven by slightly lower TCE rates and higher opex, which more
    than offset more available days due to higher chartered in capacity.
  • …but adjusting
    estimates to reflect current market outlook and higher downtime associated with
    the expanded scrubber program.
     We are lowering our 2019 EBITDA estimate to $83.6
    million from $91.9 million even though rate outpe



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Research – Comtech (CMTL) – Exceeds 2Q quarterly expectations

Thursday, March 7, 2019

Comtech Telecommunications (CMTL)

Exceeds 2Q Expectations, Raises Full Year, With Potential Upside. Another Acquisition?

Comtech Telecommunications Corp. engages in the design, development, production, and marketing of products, systems, and services for advanced communications solutions in the United States and internationally. It operates in three segments: Telecommunications Transmission, Mobile Data Communications, and RF Microwave Amplifiers. 

Joe Gomes, Senior Research Analyst, Noble Capital Markets, Inc.

Refer to full report for price target, fundamental analysis and rating.  

  • Strong 2Q19 Operating Results. Net sales jumped 22.7% to $164.1 million, with Adjusted EBITDA of $23.2 million,  up 60.0%. GAAP EPS came in at $0.32 and adjusted EPS was $0.40. 2Q19 results exceed our, and management’s, expectations. Business momentum remains strong and the pipeline of opportunities continues to increase.
  • FY2019 Targets Raised. Full year FY2019 revenue expectations now in the $645-$660 million range and Adjusted EBITDA in the $85-$89 million range. Compares to prior guidance of $625-$640 million and $84-$88 million, respectively. Notably, resu


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Research – Kratos Defense (KTOS) – Drone prospect takes flight

Thursday, March 7, 2019

Kratos Defense & Security Solutions, Inc. (KTOS)

The Curtain Drops as the Valkyrie Takes Flight.

Kratos Defense & Security Solutions, Inc. provides engineering, information technology (IT) services, and warfighter solutions primarily in the United States. It operates in two segments, Kratos Government Solutions (KGS) and Public Safety and Security (PSS).

Joe Gomes, Senior Research Analyst, Noble Capital Markets, Inc.

Refer to full report for price target, fundamental analysis and rating.

  • Ride of the Valkyrie. Yesterday,
    the XQ-58A Valkyrie completed its inaugural flight, a significant milestone in
    the program. According to the Air Force, the aircraft behaved as expected and
    completed 76 minutes of flight time. The Air Force plans a total of five test
    flights over two phases.
  • Disruptive Technology with
    Potential Huge Impact for Kratos.
     The
    tactical drones market is anticipated to be significantly larger than the $6.2
    billion target drone market. With yesterday’s flight, Kratos is on its way of
    capitalizing on this huge opportunity





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NOTE: investment decisions should not be based upon the content of
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Research – Genco Shipping (GNK) – 4Q18 Results Surprise

Wednesday, March 06, 2019

Genco Shipping & Trading Limited (GNK)

4Q2018 results above expectations and positioned for rough weather ahead.

Genco Shipping &
Trading Limited, incorporated on September 27, 2004, transports iron ore, coal,
grain, steel products and other drybulk cargoes along shipping routes through
the ownership and operation of drybulk carrier vessels. The Company is engaged
in the ocean transportation of drybulk cargoes around the world through the
ownership and operation of drybulk carrier vessels. 

Poe Fratt, Senior Research Analyst, Noble Capital Markets, Inc.

Refer to full report for price target, fundamental analysis and rating.

  • 4Q2018 EBITDA ahead
    of expectations.
     4Q2018 EBITDA of $42.4 million was ahead of
    expectations due to higher TCE rates. Adjusted 4Q2018 EPS of $0.39 was the
    fifth profitable quarter in the last six years.
  • Adjusting
    estimates to reflect 1Q2019 forward cover, market volatility and
    updated dry dock schedule.
     To include forward booking data, asset sales and
    updated dry dock info, movi…




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News – DNA Data Storage: The Future of Informatics

Soon, you might have your favorite video or family photo stored on living DNA instead of magnetic tape/silicon chip.

(Note: related companies are at base of the story and all the sources listed in the “Balanced” section)

At present, the world is generating data at a much faster rate
than what it takes to store it. The digital data universe is made up of things
like images and videos on cellphones uploaded to YouTube, health records stored
in hospital cloud systems, banking data accessed from ATMs, and many other
forms of digital data. The size of the world’s digital data universe is doubling
every two years, according to a recent study by International Data Corp., a
Massachusetts-based market intelligence company. It is thought that current
technologies such as magnetic tapes and silicon chips will not be enough to
store the constantly expanding digital data universe.

There is an imminent need for a new, higher-density, less-costly,
more-stable data storage solution. Because digital data is generated at a much
faster pace than it could be stored, the world is running a data storage deficit
equivalent to an estimated 7.5 zettabytes or 7.5 trillion gigabytes. This
deficit corresponds to approximately 2 billion large hard drives worth of data
or 260 billion iPhones. In 2025, pundits estimate that the world will generate
160 zettabytes of digital data. Experts believe the deficit will continue to
grow until a new technological solution emerge, which is much needed as all
silicon chips could be consumed by 2040.

The potential use of DNA to store digital data is very appealing. Scientists
have long touted DNA’s potential as an ideal storage medium for digital
data/information. The question is, can DNA replace magnetic tapes and
silicon chips as the preferred data storage system? DNA is dense (a single gram
of DNA can hold roughly a zettabyte), easy to replicate, and according to
experts, it could be stable for more than 100,000 years. Nowadays, scientists
have been able to encode all kinds of digital information into DNA sequences
including the novel “War and Peace”, Deep Purple’s “Smoke on the Water” video, and
a galloping horse GIF-film. However, to replace existing silicon-chip or
magnetic-tape technologies, DNA-based systems will have to become significantly
less costly and more predictable to read, write, and package.

DNA is the data storage system selected by nature, chosen by
evolution to carry the genetic information which encodes life. It is for this
reason scientists believe it could be utilized to readily store other types of
data such as videos, audio, text and others. Computational scientists use the
numbers 1 and 0 as a binary code for all the data stored in computer chips. In
a similar fashion, scientists could use the four main chemical compounds in DNA
— cytosine, adenine, thymine and guanine (C, A, T, G), as a code to store
digital information.

Given that DNA is relatively dense compared to other materials, a
large amount of data could be stored into a microscopic size molecule.
Moreover, DNA is far more durable than magnetic-tapes and silicon-chips, which
deteriorate in a few decades. Storing digital data into DNA nucleotide sequences
requires the synthesis and preservation of DNA molecules in an adequate
environment, which scientists believe could be accomplish with existing
technologies.

Today on Channelchek


Great Panther Completes Acquisition of Beadell.

 
Name Changed to Great Panther Mining Limited… More

Entravision Radio Stations Now Streaming on iHeartRadio. 

A diversified global media and advertising technology company serving Latino consumers, today announced that…

More

Big Pharma’s Hunt for New Drugs Is Pushing Up Cost of Deals.

Acquisitions of American biotech companies are surging, and so are the prices that buyers are willing to pay. More

Aurania’s Events During PDAC 2019. Aurania Resources Ltd. is attending the PDAC 2019 International Convention being held March 3 – March 6 in Toronto, Canada. More

Genco Shipping & Trading Limited Announces Fourth Quarter Financial Results. 
The largest U.S. headquartered drybulk shipowner focused on the transportation of major and minor bulk commodities globally, today reported its financial results for the three months and twelve months ended December 31, 2018. More 

How Will the Current M&A Frenzy in the Mining Industry Impact Investors? On February 25, Barrick Gold announced a hostile $17.8 billion bid for Newmont Mining… More

E. W. Scripps (SSP) Cutting through the noise. More

Research – E.W. Scripps (SSP) – Raising Price Target

Monday, March 5, 2019

E.W. Scripps (SSP)

Cutting through the noise.

The E.W. Scripps Co.
(www.scripps.com) serves audiences and businesses through a growing portfolio
of television, print and digital media brands. After approval of its
acquisition of two Granite Broadcasting stations later this year, Scripps will
own 21 local television stations as well as daily newspapers in 13 markets
across the United States

Michael Kupinski, DOR, Senior Research Analyst, Noble Capital Markets, Inc.

Refer to full report for price target, fundamental analysis and rating.

  • Q4 results
    largely in line with raised expectations.
     The company overachieved revenues with the largest
    upside variance in its lower margin National Media division. The influx of
    Political advertising was already baked in. As such, Q4 adjusted EBITDA was
    slightly lower than expected. 
  • First quarter
    guidance is slightly better than our expectations. 
    Reflecting the company’s acquisition of Triton, we are
    raising our Q1 2019 revenue and cash flow estimate to $286.5 million and $27.2
    million from $276.1 million and $25.5 million, respectively. The biggest
    variance to our es
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NobleConXV Panel – Marketing Early-Stage Natural Resource Companies to Investors

Voices of Experience: Marketing Early-Stage Natural Resource Companies to Investors.

We would like to invite you to watch the Natural Resources panel from NobleConXV (
January, 2019), hosted by Noble Capital Market’s two senior natural resource equity analysts, Mark Reichman and Michael Heim. This panel focuses on the challenges early-stage exploration companies face when raising capital in the public market and how to overcome these challenges. Mr. Reichman and Mr. Heim question five executives of exploration stage mining and oil and gas companies on alternative ways to raise money, the importance of a strong management team/board, the future of commodity prices, government influence/risks, technical reports, and other topics.

Panelists

•             Dr. Keith Barron, Chairman and Chief Executive Officer, Aurania Resources Ltd. (TSXV: ARU)

•             Mr. Gregory Crowe, President, Chief Executive Officer
and Director, Silver One Resources Inc. (TSXV: SVE)

•             Mr. Henk van Alphen, Chief Executive Officer and Director, Wealth Minerals Ltd. (
TSXV : WML)

•             Mr. John Brda, President
and Chief Executive Officer, Torchlight Energy Resources, Inc. (NASDAQ: TRCH)

•             Mr. Douglas Bartole, President and CEO, InPlay Oil Corp. (TSXV: IPO)

 

Click here to watch the panel presentation

Research – Great Panther Silver (GPL) – Expectations in line

Monday, March 4, 2019

Great Panther Silver (GPL)

Fourth Quarter and Full Year 2018 Results In Line With Expectations.

Great Panther Silver
Ltd is a precious metals mining and exploration company. It owns two mines
Topia and Guanajuato Mine Complex (GMC). The Topia operations produce silver,
gold, lead, and zinc whereas the GMC operation produces silver and gold.

Mark Reichman, Senior Research Analyst, Noble Capital Markets, Inc.

Refer to full report for price target, fundamental analysis and rating.

  • GPL reports fourth quarter and full year 2018 results.  In line with our estimates, GPL reported a fourth
    quarter net loss of $3.6 million, or ($0.02) per share and a full year net loss
    of $10.0 million, or ($0.06) per share.  Great Panther generated fourth
    quarter and full year negative adjusted EBITDA of $3.3 million and $6.4
    million, respectively.
  • Beadell Resources acquisition to close shortly.  With all shareholder and final court approvals received,
    management expects to close the acquisition on March 5th.  Based on GPL’s
    recent closing price, the company would have a pro forma market cap of ~$241
    million and an enterprise value of ~$252 million.  The company’s name will
    cha



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NOTE: investment decisions should not be based upon the content of
this research summary.  Proper due diligence is required before
making any investment decision.
 

Research – Tegna (TGNA) – Looking towards subscriber growth in 2019

Monday, March 4, 2019

Tegna, Inc. (TGNA)

Subscribers count; why this matters.

TEGNA Inc., a media
company, operates a portfolio of broadcast stations and digital sites; and
provides marketing service solutions for businesses. The company operates 46
television stations in 38 markets that produce local programming, such as news,
sports, and entertainment. Its marketing services business provides solutions
for clients on multiple channels, including broadcast, online, and OTT. 

Michael Kupinski, DOR, Senior Research Analyst, Noble Capital Markets, Inc.

Refer to full report for price target, fundamental analysis and rating.

  • Better than
    expected.
     The company reported fourth quarter results in line
    with previous guidance, exceeding our recently lowered expectations, which
    anticipated an impact from refunds in one of its subsidiaries. Revenues were up
    31% and cash flow was up a strong 63%, above our 29% and 43% growth
    expectations, respectively. Revenues would have been up a stronger 33% without
    the revenue impact of the refunds.
  • Stronger
    subscription revenue.
     Total revenues of $642.1 million came in 1.2% higher
    than our $634.4 million estimate, with cash flow (EBITDA) 4.3% higher, at
    $273.1 million versus our $261.7 million estimate. Subscription revenue was an
    unexpected surprise at $218.5 million versus our $207.3 million estimate, as
    total subsc
    … 


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News – Merger Mania Hits the Mining Space

How Will the Current M&A Frenzy in the Mining Industry Impact Investors?

(Note: related companies are at base of the story and all the
sources listed in the “Balanced” section)

On
February 25, Barrick Gold announced a hostile $17.8 billion bid for Newmont
Mining.  This follows Barrick’s purchase
of Randgold Resources which closed in January. 
Newmont is in the process of acquiring Goldcorp Inc. and Barrick’s offer
is contingent on Newmont abandoning its plans to acquire Goldcorp.  These transactions follow several other
recent transactions in the mining space. 
Will there be more consolidation and what are the implications for precious
metals investors?