cpatches, Author at Channelchek

August PCE Index Release Suggests Slower Pace of Inflation Growth

Posted on September 29, 2023September 29, 2023 by cpatches

Today’s news brings the release of the August data for the Personal Consumption Expenditures (PCE) Index by the U.S. Bureau of Economic Analysis. This report, a crucial indicator of inflation and consumer spending in the United States, has set a positive tone for financial markets as they rally in early trading.

In August, the PCE Index recorded a year-over-year growth rate of 3.5%, showing a modest increase from the previous month’s 3.4%. On a monthly basis, the core PCE, the Federal Reserve’s preferred measure of inflation, inched up by 0.1%, slightly lower than the 0.2% increase in July.

The Federal Reserve has long regarded the core PCE as its favored measure of inflation. While the August PCE report has provided insight into inflation trends, it’s important to note that the Fed made a decision to keep interest rates steady earlier this week. Federal Reserve Chair Jerome Powell consistently references the core PCE figures when assessing inflation. Powell has emphasized that inflation remains above the Fed’s 2% target, which has informed the central bank’s recent decision to maintain interest rates within a range of 5.25%-5.50%. This decision underscores the Fed’s cautious approach to managing inflation while fostering economic growth.

Historically, PCE reports have played a significant role in guiding monetary policy and influencing market dynamics. When inflationary pressures rise, the Fed may respond by raising interest rates to curb price increases. Conversely, when PCE growth moderates, the central bank may opt for rate cuts to stimulate economic activity.

While the report suggests a slower pace of inflation growth in August compared to July, inflation remains a pertinent issue. Investors will closely monitor subsequent reports and Federal Reserve actions to gain insight into the trajectory of inflation and its potential impact on financial markets and the broader economy. The early market rally reflects the market’s optimism following the release of the latest PCE data, as it continues to navigate the evolving economic landscape.

Blue Apron to be Acquired by Wonder Group in $103 Million Deal

Posted on September 29, 2023September 29, 2023 by cpatches

Blue Apron Holdings, Inc. (Nasdaq: APRN), a pioneer in the meal kit industry, has announced a definitive merger agreement with Wonder Group, a company founded by entrepreneur Marc Lore, known for redefining at-home dining and food delivery. The merger agreement, unanimously approved by Blue Apron’s Board of Directors, is set to create a leading mealtime platform and offers Blue Apron stockholders $13.00 per share in cash, totaling approximately $103 million.

Blue Apron’s merger agreement with Wonder Group comes as part of a strategic shift for the company, which had recently transitioned to an asset-light business model following the sale of its operational infrastructure and a strategic partnership with FreshRealm. The $13.00 per share purchase price represents a substantial 137% premium to the closing price on September 28, 2023, and a noteworthy 77% premium to the 30-day volume-weighted average price of the company’s Class A common stock.

Wonder’s acquisition of Blue Apron aims to revolutionize mealtime, offering consumers greater choice, flexibility, and convenience through their combined brands. The partnership is expected to enhance both companies’ abilities to provide chef-curated meals with high-quality ingredients to a broader customer base across the United States. Following the completion of the transaction, Wonder intends to maintain Blue Apron’s current nationwide operations under the Blue Apron brand, leveraging synergies between consumer-facing apps and delivery logistics.

Linda Findley, President, and CEO of Blue Apron, expressed her excitement about the merger, stating, “The Blue Apron brand and products that our customers know and love will stay the same, with more opportunity for product expansion in the future. Further, the transaction delivers immediate and certain value for Blue Apron stockholders at a significant premium over recent trading prices.”

Marc Lore, Founder and CEO of Wonder Group, also shared his enthusiasm for the partnership, saying, “We couldn’t be more excited to welcome Blue Apron to the Wonder platform and look forward to working with Linda and her exceptional team.”

In response to this significant development, Blue Apron shares have surged by over 130% today, reflecting investor optimism about the merger agreement. This marks a remarkable shift in fortunes for the company, which had faced challenges since its initial public offering in 2017. Year-to-date, Blue Apron shares had been down by 44%.

Since its initial public offering in 2017, Blue Apron has faced numerous challenges that have significantly impacted its fortunes. Despite having achieved a valuation of $2 billion just six years ago, the company encountered hurdles including layoffs, struggles in expanding its customer base, and fierce competition from industry giants such as Amazon and Kroger. While Blue Apron experienced a brief boost in demand during the height of the COVID-19 pandemic, this momentum proved challenging to sustain. Today’s merger agreement with Wonder Group represents a pivotal moment for the pioneering meal kit company, offering the potential for renewed growth and innovation in an evolving food delivery landscape. The acquisition of Blue Apron by Wonder Group represents a pivotal moment for the pioneering meal kit company. Blue Apron’s merger with Wonder is set to redefine at-home dining and food delivery, offering customers enhanced mealtime experiences with chef-curated meals. The substantial premium offered to Blue Apron stockholders demonstrates the confidence in this strategic partnership. As Blue Apron transitions into the Wonder platform, it will be interesting to observe how this union revitalizes the company and expands its presence in the evolving food delivery landscape.

Release – ACCO Brands Publishes 2022 Environmental, Social and Governance (ESG) Report

Posted on September 18, 2023September 18, 2023 by cpatches

Research News and Market Data on ACCO

LAKE ZURICH, Ill.–(BUSINESS WIRE)– ACCO Brands Corporation (NYSE: ACCO) a leading global consumer, technology, and business branded products company, today published its 2022 Environmental, Social and Governance (ESG) Report.

“At ACCO Brands, we are committed to operating our business with the highest ethical standards. We foster accountability to our stakeholders with strong governance and risk management policies and practices,” noted Tom Tedford, President, and Chief Operating Officer. “Our ESG report highlights our progress in delivering on our commitments to our employees, the environment, and the communities in which we live and work. Our work is organized under the pillars of People, Planet and Products and is guided by our long-standing values: to act with integrity, embrace diversity and act responsibly in our global community,” concluded Mr. Tedford.

To access the Company’s 2022 ESG Report and learn more about the Company’s ESG efforts, read the full report by clicking here.

About ACCO Brands

ACCO Brands, the Home of Great Brands Built by Great People, designs, manufactures and markets consumer and end-user products that help people work, learn, play and thrive. Our widely recognized brands include AT-A-GLANCE®, Five Star®, Kensington®, Leitz®, Mead®, PowerA®, Swingline®, Tilibra® and many others. More information about ACCO Brands Corporation (NYSE: ACCO) can be found at www.accobrands.com.

Lori Conley
Corporate Communications
lori.conley@acco.comSource: ACCO Brands Corporation

Schwazze (SHWZ) – Insider Adding shares

Posted on September 8, 2023September 8, 2023 by cpatches

Friday, September 08, 2023

Schwazze (OTCQX:SHWZ, NEO:SHWZ) is building a premier vertically integrated regional cannabis company with assets in Colorado and New Mexico and will continue to take its operating system to other states where it can develop a differentiated regional leadership position. Schwazze is the parent company of a portfolio of leading cannabis businesses and brands spanning seed to sale. The Company is committed to unlocking the full potential of the cannabis plant to improve the human condition. Schwazze is anchored by a high-performance culture that combines customer-centric thinking and data science to test, measure, and drive decisions and outcomes. The Company’s leadership team has deep expertise in retailing, wholesaling, and building consumer brands at Fortune 500 companies as well as in the cannabis sector. Schwazze is passionate about making a difference in our communities, promoting diversity and inclusion, and doing our part to incorporate climate-conscious best practices.

Joe Gomes, Managing Director, Equity Research Analyst, Generalist , Noble Capital Markets, Inc.

Joshua Zoepfel, Research Associate, Noble Capital Markets, Inc.

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

Insider Buying. From August 15th through August 26th, Schwazze Director Jeff Garwood purchased 128,155 SHWZ shares on the open market at prices ranging from $0.65 to $0.75 per share. The additional purchases increased Mr. Garwood’s overall Schwazze common stock ownership to 452,783 shares. We positively view insiders putting their own money into share purchases.

Garwood Background. Mr. Garwood joined the Schwazze Board in March 2021, Mr. Garwood is the founder and is currently the managing member of Liberation Capital, LLC, a private equity fund that is focused on providing modular, repeatable waste to value project finance. Prior to Liberation Capital, Mr. Garwood held a variety of senior leadership positions with General Electric including President and CEO of GE Water and Process Technologies, and President and CEO of GE Fanuc. He was also President of Garrett Aviation, and worked for numerous years at the strategic consulting firm McKinsey and Company.

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Century Lithium Corp. (CYDVF) – Safeguarding Innovation with a Provisional Patent

Posted on September 8, 2023September 8, 2023 by cpatches

Friday, September 08, 2023

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.

Pioneering innovation. Century Lithium has developed a proprietary system for lithium extraction that reflects innovations developed at its lithium extraction facility or pilot plant. Century Lithium received a provisional patent protecting the company’s system and methods for extracting lithium solids, including clay.

Extracting lithium from solids. The company’s patent pending system is based on the extraction of lithium from solids using products of a chlor-alkali process, including hydrochloric acid and sodium hydroxide. Exclusive of the direct lithium extraction (DLE) process where lithium is recovered, protected intellectual property includes the method of treating lithium-bearing solids with chloride solution and the handing of solutions, precipitates, and residues. DLE using Li-Pro is a component process proprietary to Koch Technology Solutions.

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

Investor Registration for Noble Capital Markets 19th Annual Emerging Growth Equity Conference is Now Open

Posted on September 8, 2023November 9, 2023 by cpatches

DECEMBER 3-5 | BOCA RATON FLORIDA

FAU COLLEGE OF BUSINESS EXECUTIVE EDUCATION | KAYE PERFORMING ARTS AUDITORIUM

FEATURING MODERATED FIRESIDE CHAT WITH THE 43rd
PRESIDENT OF THE UNITED STATES, GEORGE W. BUSH

SUNDAY DECEMBER 3

Official Kickoff / Early Registration – FAU College of Business Executive Education
Dusty May, NCAA Men’s Basketball; Coach of the Year – FAU Owls
Nico Pronk, President & CEO, Noble Capital Markets, Inc.
Cocktails and hors d’oeuvres

MONDAY DECEMBER 4

~60 public company executive team presentations, breakouts, one-and-ones – FAU College of Business Executive Education
The World is HOT – Impact of National and Global Events – Panel Presentation
Food and beverage throughout the day
“The After” evening networking event – Celebrate Noble’s 19^th After in ‘23. Mingle with music, magic, motors, munchies, and high-flying antics. A vintage experience like no other! – Privaira Private Aviation Hangar, Boca Raton Airport

TUESDAY DECEMBER 5

~50 public company executive team presentations, breakouts, one-and-ones – FAU College of Business Executive Education
43^rd President of the United States, George W. Bush, moderated fireside chat – Kaye Performing Arts Auditorium at FAU (ticket included with registration)
Food and beverage throughout the day

Conference closing remarks, Noble and FAU representatives (TBA)

WHO SHOULD ATTEND?

Individuals who are interested in meeting and networking with the executives who lead the companies that may shape our future
Individuals who are looking for early-stage investments in companies that can represent significant growth
Family offices, investment clubs and organizations, brokers and equity analysts, financial industry representatives
Institutional investors, hedge & mutual fund portfolio managers, private equity
Florida Atlantic University students, faculty, alumni

EARLY REGISTRATION (before September 15, 2023)

General Registration for all events: $399
Registration for all events PLUS VIP-best-in-house seating for President Bush (BVIP) $599 (ticket value alone, $350)
Discounted Registration for Investment groups/clubs and FINRA-licensed RRs, General $149 / BVIP $299

Each class of registration available in limited quantities. Pricing may increase and/or be discontinued at any time, without notice. Investment groups/clubs must be approved by Noble prior to offering member discounts. Ask your group/club leadership if they have applied for approval from Noble. Registered representatives must have current CRD #. Service providers do not qualify for rates shown above, regardless of class affiliation.

Register Now

NobleCon19 Sponsors

Learn More: Seeking Alpha | Privaira | AON | The Money Channel

Learn More: CFA Society South Florida | Palm Beach Hedge Fund Association
Boca Magazine | Delray Magazine | South Florida Stock & Bond Club
Nasdaq | Miami Finance Forum

NobleCon19 Presenting Companies

Posted on September 4, 2023December 2, 2023 by cpatches

NobleCon19 Presenters

Investor Registration | P resenting Companies Inquiries | NobleCon19 Web site

The following companies are confirmed for NobleCon19. Check back often, as new companies are added every week. Interested in presenting? Submit a request at the link above.

NobleCon19 Sponsors

Learn More: Seeking Alpha | Privaira | AON | The Money Channel

iCoreConnect (ICCT) Trending Following Merger

Posted on September 1, 2023September 1, 2023 by cpatches

iCoreConnect, Inc. (Nasdaq: ICCT) recently underwent a business merger with FG Merger Corp. (Nasdaq: FGMC) and has since exhibited stability in the stock market. A notable event was a temporary halt in trading on Nasdaq due to a technical issue with the conversion of shares. However, trading resumed on August 30, 2023, after the issue was addressed. iCoreConnect is currently trending on various financial social media platforms and websites, reflecting heightened investor interest. Their stock price is up 206% since the start of the week as trading opened Friday.

iCoreConnect’s primary objective is to improve workflow productivity and practice profitability via its cloud-based software and technology solutions. Currently, the company has a portfolio of 16 SaaS enterprise solutions. Additionally, they’ve secured endorsements from over 100 state or regional healthcare associations in the U.S. Based on their recent statements, iCoreConnect has projected its revenue and annualized recurring revenue for 2023 and expressed interest in expanding into the ePrescription and insurance verification sectors.

To understand more about iCoreConnect’s activities, developments, and potential in the healthcare technology and enterprise solutions industry, a recent report from Noble Capital Markets Analyst Gergory Aurand provides a detailed analysis and overview.

Learn more about iCoreConnect and read Noble’s report here

FTC Approves Horizon Therapeutics Acquisition

Posted on September 1, 2023September 1, 2023 by cpatches

After months of scrutiny, including a lawsuit filed by the Federal Trade Commission, the FTC has given drug giant Amgen the go-ahead to proceed with their planned acquisition of Horizon Therapeutics, a global biotechnology company focused on the discovery, development and commercialization of medicines that address critical needs for people affected by rare, autoimmune and severe inflammatory diseases.

The planned acquisition was originally announced late in 2022 but has been held up due to concerns that the deal may stifle competition in the pharmaceutical industry. One key point resolved in an agreement announced Friday stipulates that Amgen is prohibited from “bundling” two of Horizon’s key drugs. A “bundling” tactic could involve rebates or promotions to insurers for recommending or favoring those Horizon products.

Horizon Therapeutics is up slightly in early market trading on Friday following the announcement. The company currently has a market cap of $26.4bn. The merger, valued at $27.8bn, is expected to be completed in Q4 of 2023.

Explore Noble Capital Markets’ Biotechnology Analyst Robert LeBoyer’s coverage list for detailed analysis on other biotech stocks.

August Jobs Report Delivers Mixed Results

Posted on September 1, 2023September 1, 2023 by cpatches

U.S. Jobs Up. Unemployment Also Up.

Today’s Report

The U.S. jobs report for August is out, with 187,000 jobs added to the economy in August. This is slightly higher than the 170,000 economists had expected. On the other side, unemployment is up slightly, at 3.8%. This is 0.3% higher than economists had predicted. Wages increased slightly, up 0.2% month-over-month, and remain up more than 4% over last year.

About the U.S. Jobs Report

The U.S. jobs report, specifically the nonfarm payroll report, is a critical economic indicator that holds immense significance for both financial markets and policymakers. This report, typically released on the first Friday of each month by the U.S. Bureau of Labor Statistics, provides crucial insights into the health of the labor market in the United States.

The report serves as a barometer of economic health. It offers valuable data on the number of jobs created or lost in the previous month, the unemployment rate, and wage growth. This information helps economists and investors gauge the overall economic performance and can influence their outlook on future economic conditions. If job creation exceeds expectations, it can signal a robust economy, potentially leading to higher consumer spending and business investments.

This report also has a significant impact on financial markets. Stock, bond, and currency markets can experience substantial volatility on the day of the report’s release. Positive job growth can boost investor confidence and lead to stock market gains, while weaker-than-expected data can trigger market sell-offs. Additionally, the Federal Reserve closely monitors the jobs report when making decisions about interest rates and monetary policy, making it a key factor in shaping the direction of these markets in the medium to long term.

In summary, the U.S. jobs report is a vital economic indicator that provides insights into the labor market’s health and has a profound impact on financial markets, influencing investor sentiment, asset prices, and even central bank decisions. It is closely watched by economists, investors, and policymakers alike for its role in shaping economic outlooks and investment strategies.

Aurania Resources (AUIAF) – Moving Forward

Posted on August 28, 2023August 28, 2023 by cpatches

Monday, August 28, 2023

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.

Concessions are in good standing. In March, Aurania paid its annual concession fee in the amount of US$2,337,345 (C$3,165,349) to maintain its 207,764-hectare land package in Ecuador and has retained its interest in 94 concessions covering 93,300 hectares in Peru. On July 31 and during the first week of August, Dr. Keith Barron, Aurania’s CEO, met with Ecuador’s Minister of Energy and Mines and other government officials to discuss, among other things, options to recover concessions for which Aurania applied in 2016 and were initially held in reserve for Aurania by the government but subsequently not granted. Dr. Barron expects to return to Ecuador in September to resume discussions.

Pursuing an exploration license in France. In parallel with its activities in Ecuador, Aurania has applied for a 51 square kilometer exploration permit in the Brittany Peninsula of northwestern France. The Brittany Peninsula is part of the orogenic Variscan belt. The concession area, situated within the Morbihan Department, has historically been the site of significant high-grade gold finds. Aurania’s geologists visited the area and found numerous blocks of quartz and evidence of past mining activity.

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

GeoVax Labs, Inc. (GOVX) – New Patent Covering Ebolavirus Vaccine Issued

Posted on July 24, 2023July 24, 2023 by cpatches

Monday, July 24, 2023

GeoVax Labs, Inc., a clinical-stage biotechnology company, develops human vaccines for infectious diseases and cancer in the United States and internationally. The company through its patented Modified Vaccinia Ankara-Virus Like Particle vaccine platform develops various vaccines. It is developing various vaccines that are in human clinical trials, and preclinical research and development phases, including vaccines against human immunodeficiency virus (HIV); Zika virus; malaria; and hemorrhagic fever viruses, such as Ebola, Sudan, Marburg, and Lassa, as well as therapeutic vaccines for chronic Hepatitis B infections and cancers. The company has collaboration and partnership agreements with the National Institute of Allergy and Infectious Diseases of the National Institutes of Health; the HIV Vaccines Trial Network; Centers for Disease Control and Prevention; United States Army Research Institute of Infectious Disease; U.S. Naval Research Laboratory; Emory University; University of Pittsburgh; Georgia State University Research Foundation; Peking University; University of Texas Medical Branch; the Institute of Human Virology at the University of Maryland; the Scripps Research Institute; the Burnet Institute; American Gene Technologies, Inc.; Viamune, Inc.; Vaxeal Holding SA; CaroGen Corporation; Virometix AG; and Leidos, Inc. GeoVax Labs, Inc. was founded in 2001 and is based in Smyrna, Georgia.

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.

Patent Issuance Covers The GeoVax Ebolavirus. GeoVax announced the issuance of a US patent covering its ebolavirus vaccine made using its VLP (virus-like particle) technology. The vaccine uses an MVA viral vector to deliver genes to elicit an immune response against the virus. The patent claims cover multiple ebolavirus strains including Sudan ebolavirus, Zaire ebolavirus, Taï Forest ebolavirus, and Reston ebolavirus. We see this issuance as both a commercial and scientific milestone for GeoVax.

MVA-VLP Is A Novel Vaccine Technology Platform. The GeoVax MVA-VLP is a novel vaccine platform that delivers genes to produce VLPs within a person’s cells. After vaccination, the genes express the viral proteins which then assemble into VLPs. These VLPs are similar enough to the virus to be recognized and elicit immune protection but are not infectious or capable of replicating in the body. Preclinical studies have shown immune responses that are similar to live-attenuated virus vaccines, with both strong humoral and cellular immunity as well as greater safety from the MVA vector.

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

Eagle Bulk Shipping (EGLE) – Earnings Preview

Posted on July 24, 2023July 24, 2023 by cpatches

Monday, July 24, 2023

Eagle Bulk Shipping Inc. (“Eagle”) 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. The Company transports a broad range of major and minor bulk cargoes around the world, including coal, grain, ore, pet coke, cement, and fertilizer. Eagle operates out of three offices, Stamford (headquarters), Singapore, and Hamburg, and performs all aspects of vessel management in-house including: commercial, operational, technical, and strategic.

Michael Heim, Senior Vice President, Equity Research Analyst, Energy & Transportation, Noble Capital Markets, Inc.

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

Estimates adjusted downward to reflect shipping weakness. We are lowering our assumed shipping rates in response to shipping rate declines and company guidance. Although EGLE had locked in 65% of its available shipping days at a rate near $16,000/day, the rate it received for the other shipping days was closer to $10,000/day. As a result, the average TCE day rate for the fleet of 52.8 vessels was closer to $14,000/day.

Lower shipping rates and thus revenues are partially offset by lower vessel operating costs. Operating expense is running between $6,300-$6,600 per shipping day, a decline from the first quarter. The lower costs lessen the impact of lower revenues in our models.

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