Author: Admin

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The inverted yield curve: what does this really indicate?

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The inverted yield curve: what does this really indicate?

(Note: companies that could be impacted by the content of this article are listed at the base of the story (desktop version). This article uses third-party references to provide a bullish, bearish and balanced point of view; sources listed in the “Balanced” section)

The news of an inverted yield curve has been lingering around market news headlines for days. For reference, an inverted yield curve occurs when long term rates are less than short term rates. It typically indicates that the chance of an economic recession in the future is high. With those headlines glooming over the average investor, it is important to know what the inverted U.S. yield curve represents, and what the warning signs indicate.

Can Germany Survive the Trade War?

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Can Germany Survive the Trade War?

(Note: companies that could be impacted by the content of this article are listed at the base of the story (desktop version). This article uses third-party references to provide a bullish, bearish and balanced point of view; sources listed in the “Balanced” section) 

Germany’s economy has suffered due to declines in exports in the industry and automobile sectors. German manufacturers are presented with increasing struggles as the U.S.-China trade war over tariffs has led to a global economic slowdown and Britain’s exit from the EU leads to greater turmoil. Germany’s GDP declined by 0.1% overall, and the government is pressured with providing greater fiscal stimulus. The economy ministry stated that fiscal action is necessary to prevent Germany from falling into a technical recession. Germany, Europe’s biggest economy, is a necessary component to the economic growth and standing of its neighbors. Consumer demand and spending has been strong, helping to supplement the economy but is beginning to wane.

Research – Tribune Publishing (TPCO) – Content to Drive Value

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Tuesday, August 20, 2019

Tribune (TPCO)

Pushing To Be Ahead Of The Times

Tribune Publishing Company, formerly tronc, is a media company that publishes newspapers worldwide. The company operates in two segments, M and X. It publishes daily newspapers; weekly newspapers; and digital platforms, such as Websites and mobile applications. The company also provides various digital marketing services, which include the development of mobile Websites, search engine marketing and optimization, social media account management, and content marketing for its customers’ Web presence for small to medium size businesses. In addition, it offers TCA, a syndication and licensing business that provides daily news service and syndicated premium content to 1,700 media and digital information publishers. Tribune Publishing Company is headquartered in Chicago, Illinois.

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

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

  • Marketing meeting highlights.  This report highlights notes from a marketing meeting in the Midwest with Terry Jimenez, the Chief Financial Officer and Michael Ferreter, Investor Relations.
  • Value for its content?   Management indicated that it is in discussions with tech companies to receive payment for some of its content. While the payments may seem somewhat….



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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).

*Analyst
certification and important disclosures included in 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. 

Microsoft Acquires PromoteIQ in an attempt to compete with Amazon

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Microsoft Acquires PromoteIQ in an attempt to compete with Amazon

(Note: companies that could be impacted by the content of this article are listed at the base of the story (desktop version). This article uses third-party references to provide a bullish, bearish and balanced point of view; sources listed in the “Balanced” section) 

Advertising generates the majority of revenue in the social media and searching sections of the internet market. The main players in the technology sector rely heavily on the profits they receive from ads. Facebook and Twitter have become common areas for companies to advertise because it attracts a lot of foot traffic. On Monday, August 5, 2019, Microsoft announced it had acquired PromoteIQ, a small company that has focused on aiding retailers in including ads into their online stores. They have selected retail as a key industry to focus on, attempting to increase its market share in the public cloud sector. This acquisition was made with the hope of competing better with Amazon.

Research – Euroseas (ESEA) -Quarterly Results Stabilizing

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Monday, August 19, 2019

Euroseas (ESEA)

Acquisition and Refinancing Are Positives

Euroseas (ESEA) operates a fleet of 15 container ships (14 feeders and one intermediate) in the container shipping markets following the closing of a four feeder container vessel acquisition in early August 2019. Euroseas’ operations are managed by Eurobulk Ltd., an affiliated ship management company, and Eurobulk FE (Far East) Ltd, which are responsible for the day-to-day commercial and technical management and operation of the fleet. Euroseas employs the fleet on mainly on spot and time period charters.

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

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

  • Quarterly results stabilizing.  RExcluding drydock expenses, adjusted 2Q2019 EBITDA was $1.7 million was below our estimate of $2.1 million, mainly due to slightly lower time equivalent (TCE) rates and higher opex.
  • Fine-tuning 2019 EBITDA estimate.   To incorporate lower 2Q2019 results and other events, like the preferred stock redemption and acquisition, our new adjusted EBITDA estimate of $9.3 mill…



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*Analyst
certification and important disclosures included in 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. 

Can Blockchain Revolutionize the Banking Industry?

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Can Blockchain Revolutionize the Banking Industry?

(Note: companies that could be impacted by the content of this article are listed at the base of the story (desktop version). This article uses third-party references to provide a bullish, bearish and balanced point of view; sources listed in the “Balanced” section) 

Blockchain technology will help to provide value to the banking industry through shared updated digital databases and ledgers as well as an additional level cryptographic security. Blockchain systems create an informational network allowing banks to efficiently and accurately process transactions and payments while lowering costs. Successful implementation of blockchain into banks will require global networking and unification, along with control standards to manage payments and limit risks. Banks will be able to use blockchain systems for cross-border transfers and remittances, providing additional identification processes with fewer errors.

Growing Industry: What Should We Look For?

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Growing Industry: What Should We Look For?

(Note: companies that could be impacted by the content of this article are listed at the base of the story (desktop version). This article uses third-party references to provide a bullish, bearish and balanced point of view; sources listed in the “Balanced” section) 

The cannabis industry has been a hot topic in headline news for the past couple of years. Many investors dive into this industry because it’s trending but have no idea where to put their money or what companies are doing to get ahead. It’s important to know the basics of the cannabis industry and to keep up with the laws surrounding the use and distribution, since this affects the growth outlook for cannabis stocks.

Research – EuroDry (EDRY) – Improving Environment

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Friday, August 16, 2019

EuroDry (EDRY)

Another Solid Quarter – Promising 2H2019 Outlook.

EuroDry operates in the dry bulk shipping markets. EuroDry’s operations are managed by Eurobulk Ltd., an affiliated ship management company, and Eurobulk FE (Far East) Ltd, which are responsible for the day-to-day commercial and technical management and operation of the fleet. EuroDry employs the fleet on spot and period charters and through pool arrangements.

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

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

  • Another solid quarter as pure dry bulk market play.  Reported 2Q2019 EBITDA was $1.8 million and adjusted EBITDA of $2.7 million excluding drydock expenses was above our estimate of $2.3 million mainly due to higher than expected TCE rates partially offset by slightly higher opex. 2Q2019 TCE revenue of $6.3 million was slightly above expectations by $0.1 million due to higher than expected shipping days of 628.
  • Adjusting our 2019 EBITDA estimate to reflect 2Q2019 results and current dry bulk market environment.  We have fine-tuned our forecasts and there is no change in adjusted EBITDA estimate of $10.4 million. Given the rapid…



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*Analyst
certification and important disclosures included in 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. 

Research – Sierra Metals (SMTS) – Positioned for Improvement

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Friday, August 16, 2019

Sierra Metals (SMTS)

Positioned for Improved 2H2019 Financial Performance

Sierra Metals is a mid-size precious and base metal producer with mines in Mexico (Bolivar and Cusi) and Peru (Yauricocha). The company has expanded milling capacity in recent years and is poised to grow as it expands existing operations and makes selective acquisitions. The company has ample brownfield opportunities surrounding its existing mines and is actively drilling at all three of its producing mines.

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

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

  • SMTS reports modest second quarter loss.  SMTS reported a modest second quarter loss of $158 thousand, or ($0.00) per share, versus earnings of $10.8 million, or $0.07 per share during the prior year period. We had forecast earnings of $0.03 per share. Adjusted EBITDA amounted to $12.6 million versus $28.9 million during the prior year period. Relative to the prior year period, second quarter results were negatively impacted by lower metals prices and loss of production due to a worker strike and operating margin was lower versus our estimate.
  • Updating estimates.   We are lowering our full year 2019 EPS and EBITDA estimates to $0.06 and $65.7 million from $0.15 and $94.2 million, respectively. Additionally, we have lowered our…



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*Analyst
certification and important disclosures included in 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. 

Research – Onconova Therapeutics (ONTX) – Inflection Points Ahead

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Thursday, August 15, 2019

Onconova Therapeutics (ONTX)

Multiple Value Driving Inflection Points in Near to Medium Term Horizon

Onconova Therapeutics, Inc., a clinical-stage biopharmaceutical company, focused on discovering and developing small molecule inhibitors to treat cancer. The lead product candidate rigosertib is in Phase 3 clinical trial for patients with higher risk myelodysplastic syndromes (MDS). The company has a license agreement with SymBio Pharmaceuticals Limited, development, and commercialization agreement with Pint International; and a license and collaboration agreement with HanX Biopharmaceuticals. Onconova Therapeutics, Inc. was founded in 1998 and is headquartered in Newtown, Pennsylvania.

Ahu Demir, Senior Research Analyst, Noble Capital Markets, Inc.

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

  • Onconova’s main focus is INSPIRE.  The company is on track to complete enrollment of Phase 3 study (INSPIRE) with rigosertib, a RAS pathway inhibitor, for the treatment of 2nd line high-risk myelodysplastic syndrome (HR-MDS). Completion of enrolment is expected in H2 2019, data readout to follow in H1 2020.
  • Key Value Driving Catalysts.   Although topline data readout from INSPIRE trial remains as the major milestone for Onconova, we believe achieving the following milestones will generate inflection points for the company; 1) completion of enrollment in INSPIRE study in H2 2019, 2) finalization of…



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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).

*Analyst
certification and important disclosures included in 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. 

Too Busy to Shop? The Rise of Meal Kit Delivery Services

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Too Busy to Shop?

(Note: companies that could be impacted by the content of this article are listed at the base of the story (desktop version). This article uses third-party references to provide a bullish, bearish and balanced point of view; sources listed in the “Balanced” section) 

Modern life is busy. We are constantly running around and do not always have time to go grocery shopping, often resulting in paying for take-out. In 1985, seventy-one percent of meals eaten at home were home-cooked. Today, that number is down to sixty percent and falling. Over a decade ago Middagsfrid created a meal kit delivery company in Sweden. The concept did not make its way over to the U.S. until around 2015 after Goldman Sachs reported they expected the industry to grow between $3 – $5 billion by 2020. Their estimate has still held and is still on track to reach that value. In the last half of 2018, 14.3 million households purchased meal kits, which was up 3.8 million from 2017.

Will owning an Electric Vehicle finally be convenient?

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Will owning an Electric Vehicle finally be convenient?

(Note: companies that could be impacted by the content of this article are listed at the base of the story (desktop version). This article uses third-party references to provide a bullish, bearish and balanced point of view; sources listed in the “Balanced” section) 

Electric vehicles offer transportation without the need for gasoline, lessening the impact it has on the environment. They have been gaining popularity because of this but have run into many problems along the way. The biggest participant in the U.S. market right now is Tesla. They have ruled the industry for some time, but new competition is here, and more is on its way. Lack of convenience is causing problems for all parties involved, leaving the main players scrambling to come up with solutions.