Author: slightbourne@noblecapitalmarkets.com

Comstock (LODE) – Comstock Plants a Flag in Pakistan

Posted on by slightbourne@noblecapitalmarkets.com


Tuesday, December 31, 2024

Comstock (NYSE: LODE) innovates technologies that contribute to global decarbonization and circularity by efficiently converting under-utilized natural resources into renewable fuels and electrification products that contribute to balancing global uses and emissions of carbon. The Company intends to achieve exponential growth and extraordinary financial, natural, and social gains by building, owning, and operating a fleet of advanced carbon neutral extraction and refining facilities, by selling an array of complimentary process solutions and related services, and by licensing selected technologies to qualified strategic partners. To learn more, please visit www.comstock.inc.

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.

License agreement with Gresham’s Eastern Ltd. Comstock Inc. announced the execution of an agreement between Comstock Fuels and Gresham’s Eastern (Pvt) Ltd., a sustainable energy engineering, equipment, and construction company based in Pakistan, pursuant to which Comstock Fuels will grant Gresham’s exclusive project and site development rights in Pakistan. The agreement will allow Gresham’s to utilize Comstock Fuels’ proprietary and patented lignocellulosic biomass refining technologies to produce sustainable aviation fuel and other renewable fuels in Pakistan.

Demonstration facility in Pakistan. Gresham’s will lead the development, financing, construction, and management of renewable fuel production facilities based on Comstock Fuel’s proprietary Bioleum refining technologies. Gresham’s will develop an initial demonstration facility in Lahore, Pakistan capable of processing 75,000 metric tons of biomass annually with the potential to scale up to a 1,000,000 metric ton per year facility. Site-specific license agreements associated with each Bioleum refinery will help ensure compliance with Comstock Fuels’ performance and quality standards.


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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.

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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. 

Jimmy Carter’s Energy Legacy: A Lasting Impact on Solar, Fracking, and Conservation

Posted on by slightbourne@noblecapitalmarkets.com
Key Points:
– Jimmy Carter’s presidency spurred advancements in solar energy and laid groundwork for fracking.
– His energy policies balanced environmentalism with fossil fuel development.
– Conservation efforts during his term highlighted the importance of efficiency in energy consumption.

Jimmy Carter’s presidency left an indelible mark on the U.S. energy landscape, bridging the divide between renewable energy innovation and fossil fuel expansion. While widely celebrated for his environmental foresight, Carter’s policies also propelled the development of oil and natural gas sectors. His multifaceted energy strategy continues to shape America’s approach to energy production and conservation.

Carter’s commitment to renewable energy emerged early in his presidency. Declaring the energy crisis the “moral equivalent of war,” he initiated policies to promote clean energy. Notable milestones included the installation of solar panels on the White House in 1979 and the passage of the National Energy Act of 1978 and the Energy Security Act of 1980. These laws incentivized solar energy, wind power, and non-fossil fuel usage, while establishing the Department of Energy as a key player in energy innovation.

His genuine environmentalism, rooted in his experience as a farmer, extended beyond renewable energy. Carter’s conservation efforts protected over 150 million acres of Alaskan wilderness while also encouraging efficiency in energy consumption nationwide. These actions, coupled with his appointment of climate advocates to federal agencies, underscored his commitment to sustainability.

Despite his green reputation, Carter’s policies also favored fossil fuel development. In response to the twin oil crises of the 1970s, he adopted an “all of the above” energy strategy. This included deregulating natural gas prices, a move that later catalyzed the fracking boom. His administration’s support for increased coal production and crude oil drilling reflected the urgency of reducing America’s dependence on foreign oil, cutting imports by half between 1979 and 1983.

Carter’s nuanced approach also extended to Alaska. While protecting vast swaths of land, he signed legislation permitting limited drilling in the Arctic National Wildlife Refuge, igniting a decades-long debate over resource extraction in the region.

Carter’s emphasis on conservation set him apart from other leaders. His televised appeal to Americans to lower thermostats and adopt energy-saving measures became iconic, symbolized by his signature cardigan sweater. However, these calls for personal sacrifice faced ridicule and dwindled after his term. Conservation—a cornerstone of his energy policy—was reframed as “efficiency” in subsequent administrations, diminishing its prominence in national discourse.

Despite these challenges, Carter’s conservation initiatives yielded measurable success. The reduction in oil imports during his tenure was driven by widespread adoption of energy-saving practices, a testament to the effectiveness of his vision.

Jimmy Carter’s farewell address in 1981 acknowledged the enduring energy challenges facing the nation. His prediction of continued competition for scarce resources remains relevant today. Carter’s energy policies, balancing environmental stewardship with practical fossil fuel use, provide a blueprint for addressing modern energy needs while fostering innovation and sustainability.

Commercial Vehicle Group (CVGI) – CVG Amends its Credit Agreement

Posted on by slightbourne@noblecapitalmarkets.com


Monday, December 30, 2024

Joe Gomes, CFA, 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.

New Amendment. As CVG continues to implement strategic portfolio actions, including paying down debt to create a more streamlined, lower cost entity, the Company amended its credit agreement. In the amendment, CVG’s existing term loan facility is reduced to $85 million from $175 million, while the revolving credit facility is reduced to $125 million from $150 million. At the end of September, CVG had approximately $115 million outstanding under the term loan and $14 million outstanding under the revolver. The maturity date of the credit facilities remains May 12, 2027.

Rate Changes. The new amendment altered the rate and leverage table. If the leverage ratio is 4:1 or above, the maximum SOFR loan rate is now at SOFR +3.25%, and the base rate loan is now at base rate +2.25%. Previously, the maximum rates of  SOFR +2.75% and base +1.75% were hit at a leverage ratio of 3.5:1.


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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. 

Nvidia Finalizes $700 Million Acquisition of AI Firm Run:ai

Posted on by slightbourne@noblecapitalmarkets.com
Key Points:
– Nvidia’s $700 million acquisition of Run:ai was approved by the European Commission after addressing antitrust concerns.
– Run:ai plans to open-source its AI optimization software, expanding its use beyond Nvidia GPUs.
– The deal strengthens Nvidia’s position as a leader in AI technologies amid growing regulatory scrutiny.

Nvidia’s recent acquisition of Israeli AI firm Run:ai marks a significant milestone in the tech industry. The $700 million deal, finalized after regulatory scrutiny, underscores Nvidia’s strategic focus on AI infrastructure optimization. Run:ai, known for its innovative solutions in AI development, is set to amplify Nvidia’s dominance in the AI graphics processing unit (GPU) market.

The acquisition, announced in April, faced hurdles from regulatory authorities on both sides of the Atlantic. The European Commission granted unconditional approval earlier this month, following an investigation into potential antitrust concerns. Regulators initially expressed fears that the deal might stifle competition in markets where Nvidia and Run:ai operate. Nvidia, which commands approximately 80% of the market share for AI GPUs, has long been a pivotal player in the sector. However, the Commission concluded that the acquisition would not harm competition, allowing the deal to proceed.

Run:ai specializes in software that helps developers optimize AI infrastructure, making it an appealing addition to Nvidia’s portfolio. In a blog post following the acquisition, Run:ai announced plans to make its software open-source. While the software currently supports only Nvidia GPUs, the open-sourcing initiative aims to broaden its reach to the entire AI ecosystem. This move aligns with Nvidia’s vision of fostering innovation while addressing concerns about market dominance.

The U.S. Department of Justice is also scrutinizing the acquisition on antitrust grounds, reflecting a broader trend of heightened regulatory oversight of tech giants. In August, reports surfaced that the Department of Justice had launched a probe into the deal, focusing on its potential implications for competition. This increased scrutiny comes amid growing concerns that large tech companies may use acquisitions to eliminate potential rivals, thereby consolidating their market power.

Despite these challenges, the acquisition reflects Nvidia’s commitment to advancing AI technologies and infrastructure. The company’s GPUs are integral to AI-linked tasks, powering innovations across industries from healthcare to autonomous vehicles. By integrating Run:ai’s expertise, Nvidia aims to enhance its ability to deliver cutting-edge solutions to its customers.

The deal also highlights the dynamic nature of the AI market, where rapid advancements necessitate strategic partnerships and acquisitions. Run:ai’s capabilities in optimizing AI workloads complement Nvidia’s hardware dominance, creating synergies that could accelerate progress in the field. As the demand for AI applications continues to grow, Nvidia’s strategic investments position it to remain at the forefront of the industry.

Regulatory scrutiny of tech acquisitions has intensified in recent years, with authorities seeking to prevent market monopolization. Nvidia’s successful navigation of these challenges in the Run:ai deal demonstrates its ability to adapt to the evolving regulatory landscape. The European Commission’s approval, in particular, sets a precedent for future acquisitions, emphasizing the importance of thorough evaluations to balance innovation with fair competition.

Nvidia’s acquisition of Run:ai signifies more than just an expansion of its capabilities; it represents a pivotal moment in the AI sector. By addressing regulatory concerns and committing to open-source initiatives, Nvidia is shaping the future of AI development. This acquisition not only solidifies Nvidia’s leadership in the AI GPU market but also reinforces its role as a catalyst for innovation in a rapidly evolving industry.

Credit Card Debt Hits Record Levels Amid Holiday Spending Surge

Posted on by slightbourne@noblecapitalmarkets.com
Key Points:
– U.S. holiday spending in 2024 is projected to reach nearly $1 trillion, driven by wage growth and consumer demand.
– Over one-third of Americans incurred debt this holiday season, with an average balance of $1,181.
– Credit card interest rates remain above 20%, making it crucial to pay off balances quickly to avoid long-term financial strain.

As the holiday season winds down, American consumers are grappling with the financial aftermath of record-breaking spending. Fueled by strong consumer demand and elevated prices, holiday expenditures are set to reach historic levels. However, this surge in spending has coincided with a sharp rise in credit card debt, painting a mixed picture of financial resilience and vulnerability.

According to the National Retail Federation (NRF), U.S. holiday spending for the 2024 season is projected to hit between $979.5 billion and $989 billion. These numbers reflect robust consumer activity from November 1 through December 31, buoyed by wage growth, modest inflation, and healthy household balance sheets.

Jack Kleinhenz, the NRF’s chief economist, commented that these factors have “led to solid holiday spending.” Despite economic uncertainties, consumers have shown remarkable willingness to shop for gifts, experiences, and celebrations.

This holiday season, however, many Americans have leaned heavily on credit cards to fund their purchases. A LendingTree survey revealed that 36% of shoppers took on debt during the season, with the average amount owed climbing to $1,181, up from $1,028 last year.

Matt Schulz, chief credit analyst at LendingTree, pointed to inflation as a key driver behind this trend, saying, “Prices are still really high, and that means lots of Americans simply didn’t have any choice.” For many, the combination of rising costs and the desire to maintain holiday traditions has outweighed concerns about accumulating debt.

Even before the holiday shopping frenzy, credit card debt in the U.S. was at an all-time high. Data from the Federal Reserve Bank of New York shows that balances were 8.1% higher year-over-year heading into the season. Compounding this issue, a NerdWallet report found that 28% of consumers had not fully paid off the credit card debt incurred during last year’s holiday season.

While some see increased spending as a sign of consumer confidence, the costs associated with credit card borrowing remain a significant concern. Interest rates on credit cards now average more than 20%, with some retail card rates climbing even higher.

For those unable to pay off their balances quickly, the financial repercussions can be steep. LendingTree’s survey indicated that 21% of those with holiday debt expect it to take five months or longer to pay off. This extended timeline can lead to ballooning interest charges, diminishing consumers’ ability to save or meet other financial goals.

Schulz warns, “High-interest debt means less money to put towards building an emergency fund, saving for college, or even covering basic expenses. In extreme cases, it can lead to financial insecurity.”

As the new year approaches, financial experts urge consumers to prioritize paying down holiday debt as quickly as possible. Strategies such as creating a repayment plan, consolidating debt, or transferring balances to a lower-interest option can help mitigate the impact of high interest rates.

While the 2024 holiday season may have been a record-setter in terms of spending, its legacy will likely serve as a cautionary tale about the dangers of relying too heavily on credit in an era of rising costs.

Amedisys and UnitedHealth Extend Deadline for $3.3 Billion Merger Amid Regulatory Challenges

Posted on by slightbourne@noblecapitalmarkets.com
Key Points:
– Amedisys and UnitedHealth extended the merger deadline to Dec. 31, 2025, or 10 days after a court ruling, amid DOJ and state regulatory challenges.
– The agreement includes a breakup fee ranging from $275 million to $325 million if certain divestitures are not completed by May 1, 2025.
– Amedisys shares rose by over 4% following the extension announcement, reflecting investor optimism.

UnitedHealth Group (UNH) and Amedisys (AMED) have announced an extension of the deadline to finalize their $3.3 billion merger as regulatory hurdles persist. Initially set for completion this week, the merger now faces delays as the U.S. Department of Justice (DOJ) and state regulators challenge its potential market implications.

The DOJ and multiple state regulators have raised concerns over the merger, citing its potential to give UnitedHealth disproportionate control in the home health and hospice care market. This market is a critical component of the healthcare sector, providing essential services to aging populations and those requiring specialized care. Regulators argue that the deal could stifle competition, leading to higher costs and reduced innovation.

The case is currently under review in a Maryland federal court, where a judge will decide whether the merger can proceed. UnitedHealth and Amedisys have committed to addressing these concerns, emphasizing the potential benefits of the merger, including improved service delivery and expanded care options.

In a regulatory filing on Friday, Amedisys disclosed that both companies waived their right to terminate the merger agreement until Dec. 31, 2025, or the 10th business day following the court’s final ruling, whichever comes first. This extension reflects the companies’ confidence in resolving the legal challenges and underscores their commitment to completing the transaction.

To mitigate antitrust concerns, the companies have agreed to a regulatory breakup fee. If the deal falls apart, Amedisys could be entitled to $275 million, increasing to $325 million if the firms fail to divest specific assets by May 1, 2025. These provisions highlight the high stakes of the merger and the potential financial consequences of a failed agreement.

News of the extended deadline brought a positive response from investors, with Amedisys shares rising by over 4% in early trading on Friday. The surge reflects market optimism about the companies’ ability to navigate the legal landscape. Conversely, UnitedHealth shares saw minimal change, reflecting the market’s cautious outlook on the prolonged regulatory process.

The merger, announced in June 2023, represents a strategic move for both companies. Amedisys specializes in home health and hospice care, and its integration into UnitedHealth’s portfolio would significantly enhance the latter’s healthcare offerings. Despite the challenges, both firms remain steadfast in their commitment to completing the transaction and addressing regulatory concerns.

The federal court’s ruling will be pivotal in determining the merger’s future. If approved, the deal could reshape the home healthcare landscape, introducing new efficiencies and expanded services. However, failure to secure approval could force both companies to reevaluate their strategies.

Comtech Telecommunications (CMTL) – What’s Up With CMTL Shares?

Posted on by slightbourne@noblecapitalmarkets.com


Friday, December 27, 2024

Comtech Telecommunications Corp. engages in the design, development, production, and marketing of products, systems, and services for advanced communications solutions in the United States and internationally. It operates in three segments: Telecommunications Transmission, Mobile Data Communications, and RF Microwave Amplifiers. The Telecommunications Transmission segment provides satellite earth station equipment and systems, over-the-horizon microwave systems, and forward error correction technology, which are used in various commercial and government applications, including backhaul of wireless and cellular traffic, broadcasting (including HDTV), IP-based communications traffic, long distance telephony, and secure defense applications. The Mobile Data Communications segment provides mobile satellite transceivers, and computers and satellite earth station network gateways and associated installation, training, and maintenance services; supplies and operates satellite packet data networks, including arranging and providing satellite capacity; and offers microsatellites and related components. The RF Microwave Amplifiers segment designs, develops, manufactures, and markets satellite earth station traveling wave tube amplifiers (TWTA) and broadband amplifiers. Its amplifiers are used in broadcast and broadband satellite communication; defense applications, such as telecommunications systems and electronic warfare systems; and commercial applications comprising oncology treatment systems, as well as to amplify signals carrying voice, video, or data for air-to-satellite-to-ground communications. The company serves satellite systems integrators, wireless and other communication service providers, broadcasters, defense contractors, military, governments, and oil companies. Comtech markets its products through independent representatives and value-added resellers. The company was founded in 1967 and is headquartered in Melville, New York.

Joe Gomes, CFA, 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.

Share Price and Volume Action. CMTL shares have experienced some unusual price and volume action recently. With the share price rising each day over the past week, someone is feeling positive about CMTL. Could the recent action suggest a deal for the sale of the Terrestrial and Wireless segment is closer? Business conditions are improving? Something else? While the answer is unknown at this point, CMTL shares bear watching, in our view.

Recent Action. CMTL shares closed at $3.01 on December 19th. The next day, the shares rose to $3.69 on a volume of 2,132,200 shares, about five times ADV. On December 23rd, another 1,074,900 shares were traded, with the stock closing at $3.89. Yesterday, 866,278 shares were traded, with CMTL closing at $4.37, with an intraday high of $4.57, meaning CMTL shares have appreciated over 45% over the past week.


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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. 

Xcel Brands (XELB) – A Noisy Quarter, But In Line With Expectations

Posted on by slightbourne@noblecapitalmarkets.com


Friday, December 27, 2024

Xcel Brands, Inc. 1333 Broadway 10th Floor New York, NY 10018 United States https:/Sector(s): Consumer Cyclical Industry: Apparel Manufacturing Full Time Employees: 84 Key Executives Name Title Pay Exercised Year Born Mr. Robert W. D’Loren Chairman, Pres & CEO 1.27M N/A 1958 Mr. James F. Haran CFO, Principal Financial & Accou

Michael Kupinski, Director of Research, Equity Research Analyst, Digital, Media & Technology , Noble Capital Markets, Inc.

Jacob Mutchler, Research Associate, Noble Capital Markets, Inc.

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

Q3 Results. The company reported Q3 revenue and adj. EBITDA of $1.9 million and a loss of $1.0 million, respectively, both of which were largely in line with our forecast, as illustrated in Figure #1 Q3 Results. Notably, the quarter was impacted by Hurricanes, which led to canceled shows and delayed sales, resulting in roughly $500,000 of lost revenue. Importantly, we believe the company’s long term growth outlook remains favorable.

Looking past the Noise. In Q3, the company recorded a non-cash charge of $6.3 million, which is related to its equity interest in Isaac Mizrahi. The write-down anticipates that the company may not meet the minimum royalty threshold in 2025, which would result in a decrease in its ownership interest in Isaac Mizrahi from 30% to 17.5%.


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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. 

Nippon Steel Delays U.S. Steel Acquisition as Biden’s Decision Looms

Posted on by slightbourne@noblecapitalmarkets.com

In a significant move, Nippon Steel has postponed the closing date for its $14.9 billion acquisition of U.S. Steel, extending the deadline from late 2024 to the first quarter of 2025. This delay comes as U.S. President Joe Biden contemplates whether to approve the deal, which has been met with strong opposition from unions and political figures.

Nippon Steel’s decision to acquire U.S. Steel last December at a premium price was part of a competitive bidding process. However, the deal has faced considerable pushback, particularly from the United Steelworkers (USW) union, which fears job losses and the potential impact on workers’ rights. Additionally, political leaders, including Biden, have expressed concerns about foreign ownership of vital U.S. industries. Biden has publicly advocated for U.S. Steel to remain under domestic control, emphasizing national security concerns.

The situation is further complicated by statements from former President Donald Trump, who has vowed to block the deal once he takes office. As the clock ticks down, the U.S. government’s Committee on Foreign Investment in the United States (CFIUS) has referred the case to Biden, giving the President 15 days to make a final decision. If Biden does not intervene, the deal could proceed by default, leading to a rare green light for foreign acquisitions of U.S. companies.

Despite these uncertainties, Nippon Steel remains optimistic, urging Biden to conduct a fair and thorough review. In a statement released on Thursday, the company emphasized its commitment to maintaining and growing U.S. Steel’s operations. “Nippon Steel hopes that the President will use this time to conduct a fair and fact-based evaluation of the acquisition. We remain confident that the acquisition will protect and grow U.S. Steel,” the company said.

Investor confidence in the deal remains cautious. U.S. Steel shares, which have been trading below the proposed $55-per-share offer price, rose by 1.7% in early trading. This disparity suggests that market participants are still uncertain about the acquisition’s completion timeline, given the political and regulatory hurdles still in play.

Japanese Prime Minister Shigeru Ishiba has also weighed in on the issue, urging Biden to approve the merger in order to strengthen the U.S.-Japan relationship. This appeal highlights the broader geopolitical context of the deal, which is seen as a potential test case for U.S. policy on foreign investments in critical industries.

Along with the scrutiny from political figures, Nippon Steel is also undergoing an antitrust review by the U.S. Department of Justice, which has yet to conclude. The company has refrained from specifying when this review will be completed, adding another layer of uncertainty to the transaction.

Despite the vocal opposition, U.S. Steel’s shareholders overwhelmingly approved the acquisition in April, signaling broad support from investors. Additionally, Nippon Steel has taken steps to address concerns raised by labor unions and politicians. The company has committed to relocating its U.S. headquarters to Pittsburgh, where U.S. Steel is based, and ensuring that all existing agreements between U.S. Steel and the USW are honored.

The fate of this high-stakes deal now rests in the hands of President Biden, whose decision will have far-reaching implications not only for the future of U.S. Steel but also for U.S.-Japan economic relations and foreign investment policies in the U.S.

US Unemployment Applications Hold Steady, But Continuing Claims Hit 3-Year High

Posted on by slightbourne@noblecapitalmarkets.com
Key Points:
– Unemployment benefit applications remained steady at 219,000, slightly below analyst forecasts.
– Continuing claims, which track those still receiving benefits, rose by 46,000 to 1.91 million, the highest level in three years.
– The labor market shows signs of softening, but overall, remains resilient despite high interest rates.

The latest data from the U.S. Labor Department reveals that new jobless claims remained relatively stable last week, but continuing claims reached their highest level in three years, signaling potential challenges for some workers in finding new employment.

For the week of Dec. 21, jobless claims decreased slightly by 1,000, totaling 219,000, which was better than the forecasted 223,000. While the initial claims remained steady, continuing claims — which represent the total number of Americans still receiving unemployment benefits — surged by 46,000, reaching 1.91 million for the week of Dec. 14. This marks the highest level since November 2021, when the economy was still in the recovery phase following the sharp job losses triggered by the COVID-19 pandemic.

The rise in continuing claims suggests that some workers are facing greater difficulty in securing new jobs, despite a still-growing economy. While initial claims remain relatively low, the increased number of people staying on unemployment benefits for longer periods may indicate that the demand for labor is slowing. The situation is also being closely monitored by economists, as this uptick could point to broader trends in the labor market, especially as businesses continue to adjust to rising interest rates.

In addition to the weekly claims data, the four-week moving average of jobless claims increased by 1,000, to a total of 226,500. This measure smooths out weekly fluctuations and provides a clearer picture of underlying trends. While this increase is modest, it still points to a slight softening in the labor market.

Despite these signs of some cooling in the job market, the broader economy has continued to outperform expectations, with employment trends staying relatively strong. Many economists had predicted that the labor market would slow down significantly due to the Federal Reserve’s aggressive interest rate hikes, yet these forecasts have largely not materialized. The Fed’s efforts to curb inflation, which spiked during the post-pandemic recovery, have pushed rates higher over the past two years, but their full impact on employment has not been as severe as anticipated.

The Federal Reserve recently reduced its key interest rate for the third consecutive time, a move aimed at tempering inflation, although the rate remains above the central bank’s target of 2%. In a surprising shift, the Fed also projected fewer interest rate cuts for 2025, revising its forecast from four cuts to just two.

Further data released earlier this month showed that U.S. job openings rose to 7.7 million in October, up from a three-and-a-half-year low of 7.4 million in September. This suggests that businesses are still looking for workers, even as hiring growth has slowed. The November jobs report also revealed that employers added 227,000 jobs, well above expectations, after a disappointing 36,000-job gain in October. This uptick in hiring comes after the disruptions caused by strikes and hurricanes in late 2023.

The December jobs report, set to be released on January 10, will provide further insight into the state of the labor market and whether the trends of rising continuing claims continue into the new year. Despite some signs of softening, the U.S. labor market remains relatively healthy, indicating that job growth is still a crucial pillar of the broader economy.

Perfect (PERF) – Turning on the Acquisition Engine

Posted on by slightbourne@noblecapitalmarkets.com


Thursday, December 26, 2024

Patrick McCann, CFA, Research Analyst, Noble Capital Markets, Inc.

Michael Kupinski, Director of Research, Equity Research Analyst, Digital, Media & Technology , Noble Capital Markets, Inc.

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

Acquisition of Wannaby. On December 24, the company announced that it has entered into an agreement to acquire Wannaby from Fartech, a British e-commerce company. Wannaby is a virtual try-on technology operation that focuses on shoes and accessories, such as handbags. The addition of Wannaby’s technology is set to expand Perfect’s suite of virtual try-on capabilities. 

Expanding service offering. The addition of Wannaby’s virtual try-on capabilities should open new revenue verticals. It also allows the company to provide a more all-encompassing suite of virtual try-on services to existing and perspective brand clients. We believe this will bolster the company’s competitive position and could lead to higher B2B contract values and enhanced revenue growth. 


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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. 

Dow Rises 200 Points in Christmas Eve Rally, Led by Tech and Semiconductors

Posted on by slightbourne@noblecapitalmarkets.com
Key Points:
– The Dow climbed 200 points (0.5%) on Christmas Eve, with the S&P 500 up 0.7% and the Nasdaq gaining 1%, led by Tesla’s 4% jump.
– The Santa Claus rally, a seasonal trend of strong market performance, began, historically delivering a 1.3% average gain for the S&P 500 during this period.
– American Airlines briefly grounded flights due to technical issues, causing disruptions on a key travel day.

The stock market delivered a festive boost on Christmas Eve, with the Dow Jones Industrial Average climbing 200 points, or 0.5%, as investors embraced a seasonal rally. The S&P 500 rose 0.7%, while the tech-heavy Nasdaq Composite outperformed, gaining nearly 1%, buoyed by strong performances from Tesla, Amazon, and Nvidia.

The shortened trading day marked the start of the Santa Claus rally, a historical trend where markets typically perform well in the last five trading days of the year and the first two of the new year. Since 1950, the S&P 500 has posted an average gain of 1.3% during this period, significantly above the average seven-day return of 0.3%, according to LPL Research.

Tesla shares jumped 4% on Tuesday, continuing a strong December rally that has seen the stock climb 30% month-to-date. Other tech giants, including Amazon and Nvidia, also contributed to the Nasdaq’s nearly 4% gain this month, with Alphabet up 16% and Apple rising 10%.

The S&P 500 has dipped 0.3% so far in December, while the Dow remains down about 4%, reflecting a mixed month for equities. Despite these broader losses, Tuesday’s rally offered a positive note as investors capitalized on strength in technology and semiconductor stocks.

Paul Hickey, co-founder of Bespoke Investment Group, expressed cautious optimism about the rally on CNBC’s Squawk Box. “There’s a lot of good to think about, but I think at the same time, you want to be restrained in your enthusiasm here because the market has rallied,” Hickey said.

Trading volumes were thin on the holiday-shortened day, with the New York Stock Exchange closing early at 1 p.m. ET and bond markets following suit at 2 p.m. U.S. markets will remain closed Wednesday in observance of Christmas.

Beyond the stock market, American Airlines briefly grounded all flights on Tuesday due to a technical issue, creating disruptions on one of the busiest travel days of the year. The company’s shares experienced fluctuations during the session but recovered by the close.

Investors now look ahead to the remainder of the Santa Claus rally period, seeking to close out 2024 on a positive note. With major tech stocks leading gains and the semiconductor sector showing resilience, the holiday rally could provide much-needed momentum heading into the new year.

Comstock (LODE) – Partnership Seeks to Enhance Low Carbon Renewable Fuel Yields

Posted on by slightbourne@noblecapitalmarkets.com


Tuesday, December 24, 2024

Comstock (NYSE: LODE) innovates technologies that contribute to global decarbonization and circularity by efficiently converting under-utilized natural resources into renewable fuels and electrification products that contribute to balancing global uses and emissions of carbon. The Company intends to achieve exponential growth and extraordinary financial, natural, and social gains by building, owning, and operating a fleet of advanced carbon neutral extraction and refining facilities, by selling an array of complimentary process solutions and related services, and by licensing selected technologies to qualified strategic partners. To learn more, please visit www.comstock.inc.

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.

Partnership with Emerging Fuels Technology, Inc. (EFT). Under terms of a Technology Cooperation Agreement, Comstock will enter into a Master License Agreement with Emerging Fuels Technology, Inc. (EFT) to integrate EFT’s gas-to-liquids (GTL) process into Comstock’s renewable fuel solutions to capture and convert carbon emissions into emissions derived renewable fuels. Commercialization of existing and future Comstock Fuels Corporation’s renewable fuel technologies, including those developed through its partnership with EFT, will be managed exclusively by Comstock Fuels.

The goal. Integrating EFT’s GTL process to convert process emissions offers the potential to increase Comstock’s bulk biomass conversion yields to more than 140 gasoline gallon equivalents (GGE) and greater than 70% of the maximum yield from most forms of woody biomass. Because up to 20% of feedstock value could otherwise be lost to process emissions, converting a portion of the losses into additional yield with EFT’s commercial solution could enhance market adoption of the companies’ combined offering.


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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 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.