Month: July 2024

Aurania Resources (AUIAF) – Crunchy Hill Adds Another Layer of Excitement to the 2024 Exploration Program

Posted on by slightbourne@noblecapitalmarkets.com


Friday, July 12, 2024

Mark Reichman, Managing Director, Equity Research Analyst, Natural Resources, Noble Capital Markets, Inc.

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

Kuri-Yawi epithermal gold target. Aurania’s 2024 exploration program will focus on the Kuri-Yawi epithermal gold target, including an induced polarization (IP) geophysical survey and drilling three drill holes later in the year totaling approximately 1,800 meters of drilling. 

Awacha porphyry copper target. An Anaconda mapping program has been completed in the southern part of Aurania’s Awacha porphyry copper target area and exploration teams continue to map the remaining area. Having signed an agreement with the indigenous community that allows full access, the northern portion of the Awacha copper porphyry target will be mapped with the goal of preparing it for drilling in the future. 


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Equity Research is available at no cost to Registered users of Channelchek. Not a Member? Click ‘Join’ to join the Channelchek Community. There is no cost to register, and we never collect credit card information.

This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision. 

AZZ Inc (AZZ) – Increasing Our Estimates and Price Target

Posted on by slightbourne@noblecapitalmarkets.com


Friday, July 12, 2024

Mark Reichman, Managing Director, Equity Research Analyst, Natural Resources, Noble Capital Markets, Inc.

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

First quarter financial results. For the fiscal year 2025, AZZ reported adjusted first quarter net income of $44.0 million or $1.46 per share compared to $33.4 million or $1.14 per share during the prior year period and our estimate of $38.9 million or $1.32. The consensus EPS estimate was $1.30. Adjusted EBITDA increased 10.2% to $94.1 million representing 22.8% of sales versus 21.8% of sales during the first quarter of FY 2024. Sales of $413.2 million exceeded our $402.6 million estimate and the 24.8% gross margin as a percentage of sales exceeded our estimate of 24.1%.

Balance sheet continues to strengthen. During the first quarter, AZZ generated strong operating cash flows of $71.9 million and further reduced debt by $25 million and is on track to achieve its goal of reducing debt by $60 million to $90 million during the fiscal year. At quarter end, the company’s net leverage was 2.8x trailing twelve months EBITDA. Cash and cash equivalents amounted to $10.5 million. During the quarter, AZZ returned capital to common shareholders in the form of cash dividend payments totaling $4.3 million.


Get the Full Report

Equity Research is available at no cost to Registered users of Channelchek. Not a Member? Click ‘Join’ to join the Channelchek Community. There is no cost to register, and we never collect credit card information.

This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision. 

Release – Hemisphere Energy Announces Normal Course Issuer Bid Renewal

Posted on by aweinsoff@channelchek.com

Research News and Market Data on HMENF

July 11, 2024 4:39 PM EDT | Source: Hemisphere Energy Corporation

Vancouver, British Columbia–(Newsfile Corp. – July 11, 2024) – Hemisphere Energy Corporation (TSXV: HME) (OTCQX: HMENF) (“Hemisphere” or the “Company”) is pleased to announce that the TSX Venture Exchange (the “TSXV”) has accepted the Company’s Notice of Intention to renew of its Normal Course Issuer Bid (the “NCIB”) to purchase for cancellation, from time to time, as Hemisphere considers advisable, up to 8,255,766 common shares (“Common Shares”) of the Company, representing approximately 10% of the current public float of the Common Shares.

Purchases of Common Shares will be made on the open market through the facilities of the TSXV. For any Common Shares purchased, Hemisphere will pay the prevailing market price of the Common Shares. The actual number of Common Shares that may be purchased for cancellation and the timing of any such purchases will be determined by the Company and dependent on market conditions.

The Company is commencing the NCIB because it believes that, from time to time, the market price of its Common Shares may not properly reflect the underlying, intrinsic value of the Company, and that, at such times, the purchase of Common Shares for cancellation will increase the proportionate interest of, and be advantageous to, all remaining shareholders.

The NCIB will commence on July 14, 2024 and will terminate on July 13, 2025 or at such earlier time as the NCIB is completed or terminated at the option of Hemisphere. The Company has retained Canaccord Genuity Corp. as its broker to conduct the NCIB on its behalf.

Under the Company’s previous notice of intention to conduct a normal course issuer bid, the Company sought and received approval of the TSXV to purchase 8,670,636 Common Shares for the period from July 14, 2023 to July 13, 2024. During that period, the Company purchased 4,074,400 Common Shares on the open market at a weighted-average price of $1.425 per Common Share.

About Hemisphere Energy Corporation

Hemisphere is a dividend paying Canadian oil company focused on maximizing value per share growth with the sustainable development of its high netback, low decline conventional heavy oil assets through polymer flood enhanced recovery methods. Hemisphere trades on the TSX Venture Exchange as a Tier 1 issuer under the symbol “HME” and on the OTCQX Venture Marketplace under the symbol “HMENF”.

For further information, please visit the Company’s website at www.hemisphereenergy.ca to view its corporate presentation or contact:

Don Simmons, President & Chief Executive Officer
Telephone: (604) 685-9255
Email: info@hemisphereenergy.ca

Website: www.hemisphereenergy.ca

Note Regarding Forward-Looking Statements and Other Advisories

This document contains forward-looking information. This information relates to future events and the Company’s future performance. All information and statements contained herein that are not clearly historical in nature constitute forward-looking information, and the words “may”, “will”, “should”, “could”, “expect”, “plan”, “intend”, “anticipate”, “believe”, “estimate”, “propose”, “predict”, “potential”, “continue”, “aim”, or the negative of these terms or other comparable terminology are generally intended to identify forward-looking information. Such information represents the Company’s internal projections, estimates, expectations, beliefs, plans, objectives, assumptions, intentions or statements about future events or performance. This information involves known or unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking information. Hemisphere believes that the expectations reflected in this forward-looking information are reasonable; however, undue reliance should not be placed on this forward-looking information, as there can be no assurance that the plans, intentions or expectations upon which they are based will occur. This press release contains forward-looking information concerning, among other things, the anticipated advantages of the NCIB to Hemisphere’s shareholders and the Company’s business strategy, the price to be paid by Hemisphere for purchases of Common Shares under the NCIB and Hemisphere’s plans for maximizing value per share growth with the sustainable development of its high netback high netback, low decline conventional heavy oil assets through polymer flood enhanced recovery methods. The reader is cautioned that such information, although considered reasonable by the Company, may prove to be incorrect. A number of risks and other factors could cause actual results to differ materially from those expressed in the forward-looking information contained in this document including, but not limited to, the risk that the anticipated benefits of the NCIB may not be achieved and the risk that the Company may not be able to successfully execute its business strategy or growth plans. Readers are cautioned that the foregoing list of factors is not exhaustive. Although the forward-looking statements contained in this document are based upon assumptions which management of Hemisphere believes to be reasonable, Hemisphere cannot assure investors that actual results will be consistent with these forward-looking statements. With respect to forward-looking statements contained in this document, Hemisphere has made assumptions regarding, among other things, the ability of Hemisphere to fund purchases of Common Shares under the NCIB and its business strategy. These forward-looking statements are made as of the date of this document and Hemisphere disclaims any intent or obligation to update publicly any forward-looking statements, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

info

SOURCE: Hemisphere Energy Corporation

AT&T Data Breach Sends Ripples Through Stock Market, Highlighting Cyber Risks for Investors

Posted on by slightbourne@noblecapitalmarkets.com

The recent disclosure of a massive data breach at AT&T, exposing call and text records of tens of millions of customers, has sent shockwaves through the investment community, impacting not only AT&T’s stock but carrying broader implications for investors, the stock market, and companies across various sectors and sizes. AT&T’s stock price took an immediate hit, dropping 1% following the announcement. While this may seem modest, for a company of AT&T’s size, it represents a significant loss in market capitalization, underscoring how swiftly the market responds to negative news, particularly concerning data security.

The breach at one of the largest telecommunications companies in the U.S. has put the entire sector under the microscope. Investors are now reassessing the cybersecurity risks associated with telecom stocks, with companies like Verizon and T-Mobile facing increased scrutiny as shareholders question whether similar vulnerabilities exist across the industry. This heightened attention could lead to volatility in telecom stocks in the short term and potentially impact valuations in the longer term if concerns persist.

As often happens following high-profile breaches, cybersecurity stocks may see increased interest. Investors typically flock to companies offering security solutions, anticipating a surge in demand as corporations scramble to bolster their defenses. Firms specializing in network security, data protection, and threat detection could see their stock prices rise as a result of this incident. Simultaneously, the involvement of Snowflake, a third-party cloud platform, in this breach raises questions about the security of cloud infrastructure. While Snowflake has stated that their platform was not compromised, the incident may still cause investors to reevaluate the risks associated with cloud computing stocks, potentially affecting giants like Amazon (AWS), Microsoft (Azure), and Google (Google Cloud).

The breach’s scale and the involvement of federal agencies like the FBI and FCC signal potential regulatory action. Investors in telecom and tech sectors should be prepared for the possibility of stricter regulations, which could impact profitability. Additionally, the specter of class-action lawsuits looms large, with potential legal liabilities that could affect AT&T’s financial health and, by extension, its stock price. For AT&T investors, a key concern is the long-term impact on customer trust and brand value. Multiple data breaches in quick succession could lead to customer churn and difficulties in acquiring new customers, potentially translating into slower growth and reduced profitability.

While much of the focus has been on large-cap companies, the AT&T breach also has significant implications for small and micro-cap firms. These smaller companies, often operating with limited resources, may find themselves particularly vulnerable to cybersecurity threats. The increased awareness of cyber risks following the AT&T incident could lead investors to scrutinize the security practices of smaller firms more closely. This heightened scrutiny could present both challenges and opportunities for small and micro-cap companies.

On one hand, smaller firms that can demonstrate robust cybersecurity measures may find themselves at a competitive advantage, potentially attracting more investor interest and seeing improved valuations. Conversely, those perceived as having inadequate security could face investor skepticism, making it more difficult to raise capital or maintain stock prices. The incident may also drive increased demand for cybersecurity solutions tailored to smaller businesses, creating growth opportunities for small and micro-cap companies operating in this niche.

Moreover, the potential for stricter regulations following the AT&T breach could disproportionately impact smaller companies. While large corporations like AT&T have the resources to quickly adapt to new regulatory requirements, small and micro-cap firms may struggle with compliance costs, potentially affecting their profitability and attractiveness to investors. This dynamic could lead to increased consolidation in certain sectors as smaller firms seek partnerships or acquisitions to meet heightened security standards.

The national security implications mentioned in the report add another layer of complexity. Companies dealing with sensitive data or critical infrastructure may face additional government oversight, presenting both risks (increased regulatory burden) and opportunities (potential government contracts for enhanced security measures) for investors. This incident serves as a stark reminder of the cyber risks facing modern corporations and may prompt a market-wide reassessment of how cybersecurity factors into stock valuations. Companies with robust security measures and transparent data practices may command a premium, while those perceived as vulnerable could see their valuations suffer.

For individual and institutional investors alike, the AT&T breach highlights the importance of incorporating cybersecurity considerations into investment strategies, regardless of company size. Diversification becomes even more crucial, as does thorough due diligence on companies’ data security practices. The incident may also boost interest in ESG (Environmental, Social, and Governance) investing, where data protection falls under the ‘Governance’ category.

As the market digests this news, we can expect to see shifts in investor sentiment, potentially driving capital towards companies and sectors perceived as more secure or poised to benefit from increased cybersecurity spending. Moving forward, savvy investors will need to stay informed about cybersecurity trends and incorporate this knowledge into their investment decisions across the entire market capitalization spectrum. The AT&T incident may well mark a turning point in how the market values data security, making it an essential factor in investment analysis across all sectors and company sizes. In our increasingly digital world, the financial and reputational risks associated with cybersecurity failures have become too significant for investors to ignore, reshaping investment strategies and market dynamics in profound and lasting ways.

Oil Prices Surge Amid Hopes for Rate Cuts and Inflation Data

Posted on by slightbourne@noblecapitalmarkets.com

In a surprising turn of events, oil prices have climbed for the second consecutive session, with Brent crude settling above $85 per barrel. This uptick comes as hopes for U.S. interest rate cuts were fueled by an unexpected slowdown in inflation. The market’s reaction to these economic indicators highlights the intricate connections between macroeconomic factors and commodity prices.

The latest data from the U.S. Bureau of Labor Statistics revealed a decline in consumer prices for June. This unexpected drop has boosted expectations that the Federal Reserve might cut interest rates sooner than anticipated. Following the release of the inflation data, traders saw an 89% chance of a rate cut in September, up from 73% the day before. Slowing inflation and potential rate cuts are expected to spur more economic activity. Analysts from Growmark Energy have noted that such measures could bolster economic growth, subsequently increasing demand for oil.

Federal Reserve Chair Jerome Powell acknowledged the recent improvements in price pressures but stressed to lawmakers that more data is needed to justify interest rate cuts. His cautious approach underscores the Fed’s commitment to data-driven policy decisions. The possibility of rate cuts also impacted the U.S. dollar index, causing it to drop. A weaker dollar generally supports oil prices by making dollar-denominated commodities cheaper for buyers using other currencies. Gary Cunningham, director of market research at Tradition Energy, emphasized this point, noting that a softer dollar could enhance oil demand.

The rise in oil prices also reflects broader market dynamics. On Wednesday, U.S. data showed a draw in crude stocks and strong demand for gasoline and jet fuel, ending a three-day losing streak for oil prices. Additionally, front-month U.S. crude futures recorded their steepest premium to the next-month contract since April. This market structure, known as backwardation, indicates supply tightness. When market participants are willing to pay a premium for earlier delivery dates, it often signals that current supply isn’t meeting demand.

While current market conditions suggest strong demand, future demand forecasts from major industry players show significant divergence. The International Energy Agency (IEA) recently predicted global oil demand growth to slow to under a million barrels per day (bpd) this year and next, mainly due to reduced consumption in China. In contrast, the Organization of the Petroleum Exporting Countries (OPEC) maintained a more optimistic outlook, forecasting world oil demand growth at 2.25 million bpd this year and 1.85 million bpd next year. This discrepancy between the IEA and OPEC forecasts is partly due to differing views on the pace of the global transition to cleaner fuels.

Alex Hodes, an analyst at StoneX, noted that the divergence in demand forecasts is unusually wide, attributing it to varying opinions on how quickly the world will shift to cleaner energy sources. This uncertainty adds another layer of complexity to market predictions and planning.

The interplay between inflation data, interest rate expectations, and oil demand forecasts creates a nuanced picture for the future of oil prices. If the Federal Reserve proceeds with rate cuts, increased economic activity could boost oil demand. However, the ongoing transition to clean energy and geopolitical factors will continue to play crucial roles. For now, market participants and analysts will closely monitor economic indicators and policy decisions. The recent rise in oil prices highlights the market’s sensitivity to macroeconomic trends and the importance of timely and accurate data in shaping market expectations.

These recent movements in oil prices underscore the complex interdependencies between economic data, policy decisions, and market dynamics. As inflation shows signs of cooling and hopes for rate cuts grow, the oil market is poised for potentially significant shifts. Understanding these trends is crucial for stakeholders across the industry as they navigate the evolving landscape of global energy markets.

Release – GeoVax to Raise Approximately $3.1 Million of Gross Proceeds in Offering Priced At-the-Market

Posted on by aweinsoff@channelchek.com

Research News and Market Data on GOVX

Atlanta, GA, July 11, 2024 – GeoVax Labs, Inc. (Nasdaq: GOVX), a clinical-stage biotechnology company developing immunotherapies and vaccines against cancer and infectious diseases, today announced that it has entered into a definitive securities purchase agreement with a certain institutional investor for the purchase and sale of 1,085,000 shares of the Company’s common stock (or common stock equivalents) at a price of $2.86 per share in a registered direct offering priced at-the-market under Nasdaq rules.

In addition, in a concurrent private placement, the Company will issue to the investor warrants to purchase up to 2,170,000 shares of common stock. The warrants have an exercise price of $2.86 per share, will be exercisable immediately following the date of issuance and will have a term of five years following the date of stockholder approval.

Roth Capital Partners is acting as the exclusive placement agent for the offering.

The gross proceeds to the Company from this offering are expected to be approximately $3.1 million, before deducting the placement agent’s fees and other offering expenses payable by the Company. The Company intends to use the net proceeds from this offering for working capital and general corporate purposes. The closing of the offering is expected to occur on or about July 12, 2024, subject to the satisfaction of customary closing conditions.

The shares in the offering described above are being offered by the Company pursuant to a shelf registration statement on Form S-3 (File No. 333-277585) previously filed with the Securities and Exchange Commission (the ”SEC”) and declared effective by the SEC on March 13, 2024. The offering is being made only by means of a prospectus, including a prospectus supplement, forming a part of the effective registration statement, relating to the offering that will be filed with the SEC. Electronic copies of the final prospectus supplement and accompanying prospectus may be obtained, when available, on the SEC’s website at http://www.sec.gov or by contacting Roth Capital Partners, LLC at 888 San Clemente Drive, Newport Beach CA 92660, by phone at (800) 678-9147 or by accessing the SEC’s website, www.sec.gov.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About GeoVax

GeoVax Labs, Inc. is a clinical-stage biotechnology company developing novel therapies and vaccines for solid tumor cancers and many of the world’s most threatening infectious diseases. The company’s lead program in oncology is a novel oncolytic solid tumor gene-directed therapy, Gedeptin®, which recently completed enrollment in a multicenter Phase 1/2 clinical trial for advanced head and neck cancers. GeoVax’s lead infectious disease candidate is GEO-CM04S1, a next-generation COVID-19 vaccine targeting high-risk immunocompromised patient populations. Currently in three Phase 2 clinical trials, GEO-CM04S1 is being evaluated as a primary vaccine for immunocompromised patients such as those suffering from hematologic cancers and other patient populations for whom the current authorized COVID-19 vaccines are insufficient, and as a booster vaccine in patients with chronic lymphocytic leukemia (CLL). In addition, GEO-CM04S1 is in a Phase 2 clinical trial evaluating the vaccine as a more robust, durable COVID-19 booster among healthy patients who previously received the mRNA vaccines. GeoVax has a leadership team who have driven significant value creation across multiple life science companies over the past several decades. For more information, visit our website: www.geovax.com.

Forward-Looking Statements

This release contains forward-looking statements regarding GeoVax’s business plans. The words “believe,” “look forward to,” “may,” “estimate,” “continue,” “anticipate,” “intend,” “should,” “plan,” “could,” “target,” “potential,” “is likely,” “will,” “expect” and similar expressions, as they relate to us, are intended to identify forward-looking statements. We have based these forward-looking statements largely on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy and financial needs. Actual results may differ materially from those included in these statements due to a variety of factors, including whether: GeoVax is able to obtain acceptable results from ongoing or future clinical trials of its investigational products, GeoVax’s immuno-oncology products and preventative vaccines can provoke the desired responses, and those products or vaccines can be used effectively, GeoVax’s viral vector technology adequately amplifies immune responses to cancer antigens, GeoVax can develop and manufacture its immuno-oncology products and preventative vaccines with the desired characteristics in a timely manner, GeoVax’s immuno-oncology products and preventative vaccines will be safe for human use, GeoVax’s vaccines will effectively prevent targeted infections in humans, GeoVax’s immuno-oncology products and preventative vaccines will receive regulatory approvals necessary to be licensed and marketed, GeoVax raises required capital to complete development, there is development of competitive products that may be more effective or easier to use than GeoVax’s products, GeoVax will be able to enter into favorable manufacturing and distribution agreements, and other factors, over which GeoVax has no control.

Further information on our risk factors is contained in our periodic reports on Form 10-Q and Form 10-K that we have filed and will file with the SEC. Any forward-looking statement made by us herein speaks only as of the date on which it is made. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. We undertake no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by law. 

Company Contact: Investor Relations Contact: Media Contact:
info@geovax.com                         austin.murtagh@precisionaq.com                        sr@roberts-communications.com 
678-384-7220 212-698-8696 202-779-0929

Release – SKYX Announces Production of its New Global Patented Advanced, Smart, Plug & Play Recessed Light

Posted on by aweinsoff@channelchek.com

Research News and Market Data on SKYX

The Global Recessed Light Market is a Multi-Billion Unit Market

As SKYX Continues to Grow its Market Penetration it Expects its Recessed Light to Significantly Contribute to Growth

SKYX’s New Plug & Play Recessed Light Global Patents include the U.S., China, Canada, Hong-Kong and Mexico

MIAMI, July 11, 2024 (GLOBE NEWSWIRE) — SKYX (NASDAQ: SKYX) (d/b/a “SKYX Technologies”), a highly disruptive smart platform technology company with over 94 issued and pending patents in the U.S. and globally, and which owns over 60 lighting and home décor websites with a mission to make homes and buildings become smart, safe, and advanced as the new standard announced today that it will start production of its new global patented advanced, smart, plug & play recessed light.

The global recessed light market is a multi-billion-unit market. SKYX’s new Plug & Play recessed light global patents include the U.S., China, Canada, Hong-Kong and Mexico.

As billions of recessed lights are installed globally with hazardous electrical wires, SKYX’s recessed light solution enables an advanced, simple Plug & Play installation that saves time, cost and lives.

SKYX’s Plug & Play recessed lights can be controlled through SKYX’s App, Voice Control and Phone and works with Apple’s Siri, Amazon Alexa, Google Home and Samsung.

SKYX’s Total Addressable Market (TAM) of over $500 billion with its robust versatile U.S. and global patent portfolio creates tremendous company value and brings the company’s patent portfolio to a total of over 94 issued and pending patents, 36 of which are issued patents covering SKYX’s advanced Plug and Play and smart home platform technologies for safety, smart home, AI, electrical, lighting and ceiling fan industries.

Rani Kohen, Founder and Executive Chairman of SKYX Platforms, said, “We are happy to announce that we will start production of our new patented and advanced, smart, plug and play recessed lights. Our global robust intellectual property portfolio in the critical areas of our advanced safe, smart homes and sensor technologies, position SKYX as a leading technology provider of advanced smart home platform solutions for the smart home, AI, electrical, lighting and ceiling fan industries.”

About SKYX Platforms Corp.

As electricity is a standard in every home and building, our mission is to make homes and buildings become safe-advanced and smart as the new standard. SKYX has a series of highly disruptive advanced-safe-smart platform technologies, with over 94 U.S. and global patents and patent pending applications. Additionally, the Company owns over 60 lighting and home decor websites for both retail and commercial segments. Our technologies place an emphasis on high quality and ease of use, while significantly enhancing both safety and lifestyle in homes and buildings. We believe that our products are a necessity in every room in both homes and other buildings in the U.S. and globally. For more information, please visit our website at https://skyplug.com/ or follow us on LinkedIn.

Forward-Looking Statements

Certain statements made in this press release are not based on historical facts, but are forward-looking statements. These statements can be identified by the use of forward-looking terminology such as “aim,” “anticipate,” “believe,” “can,” “could,” “continue,” “estimate,” “expect,” “evaluate,” “forecast,” “guidance,” “intend,” “likely,” “may,” “might,” “objective,” “ongoing,” “outlook,” “plan,” “potential,” “predict,” “probable,” “project,” “seek,” “should,” “target” “view,” “will,” or “would,” or the negative thereof or other variations thereon or comparable terminology, although not all forward-looking statements contain these words. These statements reflect the Company’s reasonable judgment with respect to future events and are subject to risks, uncertainties and other factors, many of which have outcomes difficult to predict and may be outside our control, that could cause actual results or outcomes to differ materially from those in the forward-looking statements. Such risks and uncertainties include statements relating to the Company’s ability to successfully launch, commercialize, develop additional features and achieve market acceptance of its products and technologies and integrate its products and technologies with third-party platforms or technologies; the Company’s efforts and ability to drive the adoption of its products and technologies as a standard feature, including their use in homes, hotels, offices and cruise ships; the Company’s ability to capture market share; the Company’s estimates of its potential addressable market and demand for its products and technologies; the Company’s ability to raise additional capital to support its operations as needed, which may not be available on acceptable terms or at all; the Company’s ability to continue as a going concern; the Company’s ability to execute on any sales and licensing or other strategic opportunities; the possibility that any of the Company’s products will become National Electrical Code (NEC)-code or otherwise code mandatory in any jurisdiction, or that any of the Company’s current or future products or technologies will be adopted by any state, country, or municipality, within any specific timeframe or at all; risks arising from mergers, acquisitions, joint ventures and other collaborations; the Company’s ability to attract and retain key executives and qualified personnel; guidance provided by management, which may differ from the Company’s actual operating results; the potential impact of unstable market and economic conditions on the Company’s business, financial condition, and stock price; and other risks and uncertainties described in the Company’s filings with the Securities and Exchange Commission, including its periodic reports on Form 10-K and Form 10-Q. There can be no assurance as to any of the foregoing matters. Any forward-looking statement speaks only as of the date of this press release, and the Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by U.S. federal securities laws.

Investor Relations Contact:

Jeff Ramson

PCG Advisory

jramson@pcgadvisory.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/38d19cf4-206c-442a-929e-44b6ac9a340b

A video accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/4166d320-d532-4157-8c72-ede4456a00bd

Release – Comtech Completes First Province-wide Migration to NG9-1-1 Infrastructure in Canada

Posted on by aweinsoff@channelchek.com

Research News and Market Data on CMTL

BY THE COMTECH EDITORIAL TEAM – JUL 11, 2024 | 2 MIN READ

CHANDLER, Ariz. – July 11, 2024– Comtech (NASDAQ: CMTL) (the “Company”), a global technology leader, today announced it recently completed the full migration and deployment of a Next Generation 9-1-1 (“NG9-1-1”) system in Saskatchewan-marking a significant milestone for the Company and Canada’s NG9-1-1 infrastructure.

In October 2023, Comtech helped Strathcona County in Alberta become Canada’s first Public Safety Answering Point (“PSAP”) to transition to NG9-1-1 services. With the Saskatchewan NG9-1-1 deployment, Comtech is now the first company, in partnership with leading Emergency Services IP Network (“ESInet”) provider SaskTel, to deploy a province-wide NG9-1-1 system in Canada.

“We are honored to build on our longstanding partnership with SaskTel to complete this critical NG9-1-1 transition in Saskatchewan,” said Aaron King, General Manager of Comtech’s Solacom Technologies Division. “With a government mandate to transition to NG9-1-1 services by March 2025, Comtech is partnering with Canada’s public safety agencies to lead the way in building one of the first national transitions to a NG9-1-1 infrastructure. This province-wide NG9-1-1 deployment paves the way for other NG9-1-1 migrations across Canada that will empower PSAPs throughout the country with the ability to leverage new technologies that can significantly enhance safety, reliability, and response in a wide range of emergency situations.”

In addition to the Saskatchewan NG9-1-1 deployment, Comtech also recently completed a local NG9-1-1 PSAP migration in Ontario, Canada. With these NG9-1-1 migrations complete, Comtech is the first public safety provider in Canada to partner with all three major ESInet suppliers in the country-SaskTel, Bell, and Telus-to build out the nation’s NG9-1-1 infrastructure.

As one of the most trusted providers of public safety technologies, Comtech is continuing to expand its NG9-1-1 call routing and call handling solutions, including the Company’s Guardian Call Management platform, for governments and emergency response providers across the globe. The Company’s NG9-1-1 offerings are designed to adapt and continuously evolve over time to meet the needs of emerging use cases as well as future applications.

About Comtech

Comtech Telecommunications Corp. is a leading global technology company providing terrestrial and wireless network solutions, next-generation 9-1-1 emergency services, satellite and space communications technologies, and cloud native capabilities to commercial and government customers around the world. Our unique culture of innovation and employee empowerment unleashes a relentless passion for customer success. With multiple facilities located in technology corridors throughout the United States and around the world, Comtech leverages our global presence, technology leadership, and decades of experience to create the world’s most innovative communications solutions.For more information, please visit www.comtech.com.

Forward-Looking Statements

Certain information in this press release contains statements that are forward-looking in nature and involve certain significant risks and uncertainties. Actual results and performance could differ materially from such forward-looking information. The Company’s Securities and Exchange Commission filings identify many such risks and uncertainties. Any forward-looking information in this press release is qualified in its entirety by the risks and uncertainties described in such Securities and Exchange Commission filings.

PCMTL

Investor Relations

Maria Ceriello

631-962-7115

Maria.Ceriello@comtech.com

Media Contact

Jamie Clegg

480-532-2523

jamie.clegg@comtech.com

Release – FAT Brands Inc. Announces Third Quarter Cash Dividend on Class A Common Stock and Class B Common Stock

Posted on by aweinsoff@channelchek.com

Research News and Market Data on FAT

07/11/2024

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LOS ANGELES, July 11, 2024 (GLOBE NEWSWIRE) — FAT (Fresh. Authentic. Tasty.) Brands Inc. (NASDAQ: FAT), a leading global franchising company and parent company of iconic brands including Round Table Pizza, Fatburger, Marble Slab Creamery, Johnny Rockets, Twin Peaks, Fazoli’s, Smokey Bones and 11 other restaurant concepts, announced today that its Board of Directors has declared the Company’s fiscal 2024 third quarter cash dividend of $0.14 per share on each outstanding share of Class A common stock and Class B common stock. The dividend is payable on August 30, 2024 to holders of record of Class A common stock and Class B common stock as of the close of business on August 15, 2024.

The declaration and payment of future dividends, as well as the amounts thereof, are subject to the discretion of the Company’s Board of Directors. The amount and size of any future dividends will depend upon the Company’s future results of operations, financial condition, capital levels, cash requirements and other factors. There can be no assurance that the Company will declare and pay dividends in future periods.

About FAT (Fresh. Authentic. Tasty.) Brands

FAT Brands Inc. (NASDAQ: FAT) (the Company) is a leading global franchising company that strategically acquires, markets and develops quick service, fast casual and casual dining restaurant concepts around the world. The Company currently owns eighteen restaurant brands: Round Table Pizza, Fatburger, Marble Slab Creamery, Johnny Rockets, Fazoli’s, Twin Peaks, Smokey Bones, Great American Cookies, Hot Dog on a Stick, Buffalo’s Cafe & Express, Hurricane Grill & Wings, Pretzelmaker, Elevation Burger, Native Grill & Wings, Yalla Mediterranean, Ponderosa and Bonanza Steakhouses and franchises and owns over 2,300 units worldwide. For more information, please visit www.fatbrands.com.

Forward Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are subject to significant business, economic and competitive risks, uncertainties and contingencies, many of which are difficult to predict and beyond our control, which could cause our actual results to differ materially from the results expressed or implied in such forward-looking statements. We refer you to the documents we file from time to time with the Securities and Exchange Commission, such as our reports on Form 10-K, Form 10-Q and Form 8-K, for a discussion of these risks, uncertainties and contingencies. We undertake no obligation to update any forward-looking statement to reflect events or circumstances occurring after the date of this press release.

Investor Relations:
ICR
Michelle Michalski
IR-FATBrands@icrinc.com
646-277-1224

Media Relations:
FAT Brands Inc.
Erin Mandzik
emandzik@fatbrands.com
860-212-6509

Unicycive Therapeutics (UNCY) – Patient Survey Data From Pivotal Trial Shows Patients Prefer OLC

Posted on by slightbourne@noblecapitalmarkets.com


Thursday, July 11, 2024

Robert LeBoyer, Senior Vice President, Equity Research Analyst, Biotechnology, Noble Capital Markets, Inc.

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

Pivotal Trial Included A Patient Satisfaction Survey. In late June, Unicycive released safety, efficacy, and dosing data from its Pivotal trial for OCL. As discussed on our Research Note on June 26, over 90% of the patients were able to reach target serum phosphate levels. The trial included a pre-specified patient survey asking about ease of use, satisfaction, and overall preference that shows patients prefer OLC over their current phosphate binders. We see this as an important point that could make it the best treatment in a $1 billion drug category.

We Consider Patient Preference To Be A Strong Point. OLC was developed as an improved formulation of Fosrenol (lanthanum citrate) that would require fewer and smaller pills. This was intended to improve compliance and maintain phosphate levels in the proper range. The Pivotal study for the NDA application showed sufficient safety, tolerability, and effective dose levels, with a pre-specified patient survey to collect post-treatment opinions.


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*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision. 

AZZ Inc (AZZ) – Fiscal Year 2025 Starts Off Strong

Posted on by slightbourne@noblecapitalmarkets.com


Thursday, July 11, 2024

Mark Reichman, Managing Director, Equity Research Analyst, Natural Resources, Noble Capital Markets, Inc.

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

First quarter financial results. For the fiscal year (FY) 2025, AZZ reported adjusted first quarter net income of $44.0 million or $1.46 per share compared to $33.4 million or $1.14 per share during the prior year period and our estimate of $38.9 million or $1.32 per share. The consensus EPS estimate was $1.30. Adjusted EBITDA increased 10.2% to $94.1 million representing 22.8% of sales versus 21.8% of sales during the first quarter of FY 2024. Sales of $413.2 million exceeded our $402.6 million estimate and a 24.8% gross margin as a percentage of first quarter sales exceeded our estimate of 24.1%. AZZ reiterated its prior fiscal year guidance with sales expected to be in the range of $1.525 billion to $1.625 billion, adjusted EBITDA in the range of $310 million to $360 million, and adjusted diluted EPS in the range of $4.50 to $5.00. 

Balance sheet continues to strengthen. During the first quarter, AZZ generated operating cash flow of $71.9 million and the company further reduced debt by $25 million and is on track to achieve or exceed its goal of reducing debt by $60 million to $90 million during the fiscal year. At quarter end, the company’s net leverage was 2.8x trailing twelve months EBITDA. Cash and cash equivalents amounted to $10.5 million. During the quarter, AZZ returned capital to common shareholders in the form of cash dividend payments totaling $4.3 million.


Get the Full Report

Equity Research is available at no cost to Registered users of Channelchek. Not a Member? Click ‘Join’ to join the Channelchek Community. There is no cost to register, and we never collect credit card information.

This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision. 

Inflation Declines in June for First Time Since 2020 as Consumer Prices Ease

Posted on by slightbourne@noblecapitalmarkets.com

In a significant turn of events, the latest data from the Bureau of Labor Statistics (BLS) revealed that inflation cooled in June, marking the first monthly decline since 2020. The Consumer Price Index (CPI) fell by 0.1% compared to the previous month, with a year-over-year increase of just 3%, down from May’s 3.3% annual rise. This data beat economists’ expectations of a 0.1% monthly increase and a 3.1% annual gain.

The June CPI report is notable for being the first instance since May 2020 that the monthly headline CPI turned negative. Additionally, the 3% annual gain represents the slowest rate of increase since March 2021.

When excluding volatile food and gas prices, the “core” CPI showed a modest increase of 0.1% from the previous month and a 3.3% rise over the past year. These figures also came in below expectations, as economists had anticipated a 0.2% monthly increase and a 3.4% annual gain. This marks the smallest month-over-month increase in core prices since August 2021.

In response to the report, markets opened on a positive note. The yield on the 10-year Treasury note fell by approximately 10 basis points, trading around 4.2%.

Despite the positive signs, inflation remains above the Federal Reserve’s 2% annual target. However, recent economic data suggests that the central bank might consider rate cuts sooner rather than later. Following the release of the June inflation data, market analysts estimated an 89% likelihood that the Federal Reserve would begin cutting rates at its September meeting, up from 75% the previous day, according to CME Group data.

The broader economic context includes a robust labor market report from the BLS, which indicated that 206,000 nonfarm payroll jobs were added in June, surpassing the forecast of 190,000 jobs. However, the unemployment rate edged up to 4.1%, its highest level in nearly three years.

The Fed’s preferred inflation measure, the core Personal Consumption Expenditures (PCE) price index, showed a year-over-year increase of 2.6% in May, the smallest annual gain in over three years, aligning with expectations.

Ryan Sweet, Chief US Economist at Oxford Economics, noted that while the drop in CPI between May and June bolsters the argument for rate cuts, it should be interpreted cautiously. He emphasized that this single-month decline does not necessarily indicate a lasting trend.

Seema Shah, Chief Global Strategist at Principal Asset Management, echoed this sentiment, suggesting that while the current figures set the stage for a potential rate cut in September, a cut in July remains unlikely. Shah pointed out that such a premature move could raise concerns about the Fed’s insider knowledge on the economy, and more evidence is needed to confirm a sustained downward trajectory in inflation.

In the breakdown of the CPI components, the shelter index, a significant contributor to core inflation, showed signs of easing. It increased by 5.2% on an annual basis, down from May’s rate, and rose by 0.2% month-over-month. This was the smallest increase in rent and owners’ equivalent rent indexes since August 2021. Additionally, lodging away from home decreased by 2% in June.

Energy prices continued their downward trend, with the index dropping 2% from May to June, primarily driven by a notable 3.8% decline in gas prices. On an annual basis, energy prices were up 1%.

Food prices, however, remained a sticky point for inflation, increasing by 2.2% over the past year and 0.2% from May to June. The index for food at home rose by 0.1% month-over-month, while food away from home saw a 0.4% increase.

Other categories such as motor vehicle insurance, household furnishings and operations, medical care, and personal care saw price increases. Conversely, airline fares, used cars and trucks, and communication costs decreased over the month.

As inflation shows signs of cooling, the economic outlook suggests potential shifts in Federal Reserve policy, with market participants keenly watching upcoming data to gauge the next steps in monetary policy.

Honeywell’s $1.81 Billion LNG Play: A Strategic Move in the Energy Transition

Posted on by slightbourne@noblecapitalmarkets.com

In a bold move that underscores its commitment to the energy transition, Honeywell International Inc. (NYSE: HON) announced on Wednesday its agreement to acquire Air Products’ (NYSE: APD) liquefied natural gas (LNG) process technology and equipment business for $1.81 billion in cash. This acquisition, Honeywell’s fourth in 2024, signals the industrial giant’s aggressive push into the burgeoning LNG market and its determination to position itself as a key player in the global energy landscape.

The deal comes at a time when LNG demand is surging, particularly in power generation and data center applications. According to the Energy Information Administration, U.S. LNG exports are projected to reach 12.2 billion cubic feet per day in 2024 and 14.3 billion cubic feet per day in 2025, up from a record 11.9 billion cubic feet per day in 2023. This growth trajectory presents a significant opportunity for Honeywell to capitalize on the increasing global appetite for cleaner energy sources.

By acquiring Air Products’ LNG unit, Honeywell gains access to cutting-edge technologies such as heat exchangers and cryogenic equipment, which complement its existing LNG pretreatment business. The addition of Air Products’ coil-wound heat exchangers, known for their efficient liquefaction capabilities and minimal space requirements, will enhance Honeywell’s competitive edge in both onshore and offshore LNG applications.

From an investor’s perspective, this acquisition aligns perfectly with Honeywell’s strategic focus on three “mega trends” identified by CEO Vimal Kapur: automation, the future of aviation, and energy transition. The LNG business acquisition squarely addresses the energy transition pillar, potentially opening up new revenue streams and market opportunities for the company.

Financially, the deal is expected to be accretive to Honeywell’s adjusted earnings per share in the first full year of ownership. Analyst Sheila Kahyaoglu from Jefferies estimates that the transaction could boost adjusted earnings by approximately 1% in 2025. Moreover, Honeywell anticipates growth opportunities in aftermarket services and digitalization through its Forge platform, which could further enhance the deal’s long-term value proposition.

The acquisition also demonstrates Honeywell’s commitment to growth through strategic M&A activity. With this latest deal, the company is on track to deploy around $15 billion in acquisitions in 2024 alone, a clear indication of its aggressive growth strategy and confidence in its ability to integrate and leverage new technologies and market positions.

For investors, Honeywell’s move into the LNG space offers exposure to a critical segment of the energy transition. As countries worldwide seek to reduce their carbon footprint while ensuring energy security, LNG is increasingly seen as a crucial “bridge fuel” in the shift from coal to renewables. Honeywell’s enhanced capabilities in LNG technology position it to benefit from this global trend.

However, investors should also consider the potential risks. The LNG market can be volatile, subject to geopolitical tensions and fluctuations in global energy demand. Additionally, the success of the acquisition will depend on Honeywell’s ability to effectively integrate Air Products’ LNG business and leverage its technologies across its existing customer base.

Honeywell’s $1.81 billion acquisition of Air Products’ LNG business represents a strategic bet on the future of energy. This move positions the company as a more comprehensive player in the LNG value chain, potentially opening up new revenue streams and market opportunities. For investors seeking exposure to the energy transition trend through a diversified industrial giant, this deal enhances Honeywell’s appeal. The company’s ability to integrate this acquisition effectively and leverage its new technologies across its existing customer base will be crucial to realizing the full value of this investment. As Honeywell continues to align itself with key technological and market trends, investors should closely monitor how this strategic move contributes to the company’s long-term growth trajectory and its role in shaping the evolving global energy landscape.