Category:

Which Stocks are Most Impacted by Changing Interest Rates?

Posted on by phoffman@channelchek.com

Why Interest Rates Impact Large and Small Company Profits Differently

Small-cap stocks are less sensitive to interest rate changes than large-cap stocks. Generally, when interest rates rise, it can create a bigger drag on larger companies for a number of reasons. Meanwhile, companies with small market caps are unaffected or less affected on average. While there are many factors that impact stock prices, interest rates are certainly on the list – depending on company size, rates will impact them differently.

Interest rates have moved quite a bit over the past 18 months, and they aren’t expected to stabilize now. Here are some of the stock market dynamics at play.

Revenues and Costs

Small-cap companies typically have less debt than large-cap companies. This means that they are less sensitive to changes in interest rates, as the cost of borrowing does not affect them as much as  big borrowers when rates rise.

The main reason for lower debt levels is they typically have less ability to borrow through the capital markets. Smaller or less established companies in general find the cost of issuing a public market note as being behigher than the benefits. And since rising interest rates, increase the cost of borrowing, small-cap companies are not rolling large amounts of debt at the new interest rate levels. Whereas debt is often a much larger part of big company’s overall strategy and cost of capital.

It also helps that small market-cap companies are often in industries that are less sensitive to the overall economy. If rates are rising, fears of a recession often creep into investor’s mindsets. For example, smaller technology and life sciences companies are, by comparison, less sensitive to economic cycles than cyclical industries such as large manufacturing and big oil. Put another way, many smaller companies are more focused on discovery, innovation and growth, these are not as dependent on economic conditions.

However, small-cap investors should be aware that small-caps are often more volatile than large-caps. So the investor can experience larger swings in price, both up and down. This can make this investment sector more attractive to investors who are looking for growth potential, but it can also make them more risky. If they have lower trade volume, there are fewer buyers and sellers, making it more likely for prices to move up or down.

Larger companies tend to be international in their business dealings, compared to domestic small-cap companies which more commonly transact within their home-base country. For the US, an increase in interest rates relative to other nations, is likely to lead to a stronger $US dollar. A stronger US dollar makes the cost of goods sold overseas more expensive to buyers. This could lower sales expectations as overseas buyers find other suppliers. Small companies operating domestically do not have to worry about foreign exchange rates and how they are impacted by interest rate movements.

It is important to note that interest rate changes can impact all stocks, regardless of their size. The impact of interest rate changes on a particular stock will depend on a number of factors, including the company’s debt load, its industry, and its overall financial health. Overall, small-cap stocks are less sensitive to interest rate changes than large-cap stocks, but investors can expect more volatility.

Market-cap Sector Rotation

Sector rotation is the process of money moving from one stock market sector to another, based on expectations of which sectors will perform better in the future. This could be industry, types of securities (ie: bonds, real estate), or market cap.

As it relates to market cap, an investor might sell large-cap stocks and buy small-cap stocks if they believe that small-cap stocks are undervalued and are poised to outperform large-cap stocks in the future.

It can help you to stay ahead of the market. By monitoring sector performance and making changes to your portfolio accordingly, you can stay ahead of the market and make sure that your money is invested in the sectors that are most likely to perform well.

Take Away

There are many different groupings of stocks (market-cap, industry, international, region, etc.) and factors that can impact the group. One factor that has historically played a part in price discovery of small versus large-cap stocks is interest rate movements. Interest rates impact the cost of doing business and also sales. Investors add this into the myriad of other factors they try to be aware of when selecting stocks.

Paul Hoffman

Managing Editor, Channelchek

Release – ZyVersa Therapeutics Publishes New White Paper Detailing the Critical Role of Inflammasome ASC in Inflammatory Diseases, and Its Potential as a Therapeutic Target

Posted on by aweinsoff@channelchek.com

Research News and Market Data on ZVSA

Jun 13, 2023

PDF Version

  • White paper summarizes the research of leading inflammasome experts, Drs. Helen Bramlett, Juan Pablo de Rivero Vaccari, W. Dalton Dietrich, and Robert W. Keane, University of Miami Miller School of Medicine
  • ASC, in monomeric form or as ASC specks, is central to initiation, amplification, and perpetuation of damaging inflammation leading to progressive tissue injury and chronic inflammatory diseases
  • The World Health Organization reports that chronic inflammatory diseases (heart disease, cancer, chronic respiratory disease, and diabetes) significantly threaten human health (led to death in over 33 million people worldwide in 2019)

WESTON, Fla., June 13, 2023 (GLOBE NEWSWIRE) — ZyVersa Therapeutics, Inc. (Nasdaq: ZVSA; “ZyVersa”), a clinical stage specialty biopharmaceutical company developing first-in-class drugs for treatment of patients with inflammatory and renal diseases who have significant unmet medical needs, announces availability of a new white paper on the critical role of inflammasome ASC in the development and progression of a wide-range of inflammatory diseases. Data suggest that drugs targeting ASC may provide the best opportunity to control damaging inflammation associated with diseases affecting millions of people worldwide. The white paper titled, “Inflammasome ASC: A Promising Therapeutic Target,” can be accessed by Clicking Here.  

The white paper highlights groundbreaking research from the labs of Drs. Bramlett, de Rivero Vaccari, Dietrich, and Keane, pioneers in the field of inflammasomes and members of ZyVersa’s Scientific Advisory Board. To read their biographies, Click Here.

“After 15 years of research to develop an understanding of how inflammasomes contribute to so many diverse diseases and conditions, we discovered the critical role of the ASC component and developed a monoclonal antibody, known as Inflammasome ASC Inhibitor IC 100,” stated Dr. Keane. “ASC is central to formation and activation of multiple inflammasome complexes associated with numerous diseases. ASC forms a large filamentous structure, the ASC speck, which is released from cells, amplifying and perpetuating inflammation. We believe that targeting ASC provides the best opportunity to control damaging inflammation.”

Dr. de Rivero Vaccari added, “We have studied IC 100 in animal models of diverse diseases and injuries including multiple sclerosis, age-related inflammation associated with neurodegenerative diseases, Alzheimer’s disease, acute respiratory distress syndrome, traumatic brain injury, and spinal cord injury. Each of these conditions demonstrated that IC 100 inhibited inflammasome activation, which resulted in improved histopathology and/or improved functional outcomes. We are continuing our research in other diseases, including Parkinson’s disease, for which we were awarded a grant from the Michael J. Fox Foundation.”

“ZyVersa, which obtained a worldwide license for Inflammasome ASC Inhibitor IC 100, is honored to collaborate with Drs. Bramlett, de Rivero Vaccari, Dietrich, and Keane to advance development of IC 100 into human trials,” said Stephen C. Glover, Co-founder, Chairman, CEO, and President of ZyVersa. “We have progressed manufacturing of IC 100 through GMP production, and our IND-enabling preclinical program has progressed through demonstration of IC 100 safety in dose-ranging toxicology studies in mice and monkeys.”

Mr. Glover continued, “We expect to complete the preclinical program for IC 100 by year’s end, and file an IND to initiate a Phase 1 trial in early 2024. We are excited about our progress, as we believe Inflammasome ASC Inhibitor IC 100 has potential to transform treatment of debilitating inflammatory diseases.”

About Inflammasome ASC Inhibitor IC 100

IC 100 is a novel humanized IgG4 monoclonal antibody that inhibits the inflammasome adaptor protein ASC. IC 100 attenuates both initiation and perpetuation of the inflammatory response. It does so by binding to a specific region of the ASC component of multiple types of inflammasomes, including NLRP1, NLRP2, NLRP3, NLRC4, AIM2, and Pyrin. Intracellularly, IC 100 binds to ASC monomers, inhibiting inflammasome formation, thereby blocking activation of IL-1β early in the inflammatory cascade. IC 100 also binds to ASC Specks, both intracellularly and extracellularly, further blocking activation of IL-1β and the perpetuation of the inflammatory response that is pathogenic in inflammatory diseases. Because active cytokines amplify adaptive immunity through various mechanisms, IC 100, by attenuating cytokine activation, also attenuates the adaptive immune response.

About ZyVersa Therapeutics, Inc.

ZyVersa (Nasdaq: ZVSA) is a clinical stage specialty biopharmaceutical company leveraging advanced, proprietary technologies to develop first-in-class drugs for patients with renal and inflammatory diseases who have significant unmet medical needs. The Company is currently advancing a therapeutic development pipeline with multiple programs built around its two proprietary technologies – Cholesterol Efflux Mediator™ VAR 200 developed to ameliorate renal lipid accumulation that damages the kidneys’ filtration system in patients with glomerular kidney diseases, and Inflammasome ASC Inhibitor IC 100, targeting damaging inflammation associated with numerous CNS and other inflammatory diseases. For more information, please visit www.zyversa.com.

Cautionary Statement Regarding Forward-Looking Statements

Certain statements contained in this press release regarding matters that are not historical facts, are forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. These include statements regarding management’s intentions, plans, beliefs, expectations, or forecasts for the future, and, therefore, you are cautioned not to place undue reliance on them. No forward-looking statement can be guaranteed, and actual results may differ materially from those projected. ZyVersa Therapeutics, Inc (“ZyVersa”) uses words such as “anticipates,” “believes,” “plans,” “expects,” “projects,” “future,” “intends,” “may,” “will,” “should,” “could,” “estimates,” “predicts,” “potential,” “continue,” “guidance,” and similar expressions to identify these forward-looking statements that are intended to be covered by the safe-harbor provisions. Such forward-looking statements are based on ZyVersa’s expectations and involve risks and uncertainties; consequently, actual results may differ materially from those expressed or implied in the statements due to a number of factors, including ZyVersa’s plans to develop and commercialize its product candidates, the timing of initiation of ZyVersa’s planned preclinical and clinical trials; the timing of the availability of data from ZyVersa’s preclinical and clinical trials; the timing of any planned investigational new drug application or new drug application; ZyVersa’s plans to research, develop, and commercialize its current and future product candidates; the clinical utility, potential benefits and market acceptance of ZyVersa’s product candidates; ZyVersa’s commercialization, marketing and manufacturing capabilities and strategy; ZyVersa’s ability to protect its intellectual property position; and ZyVersa’s estimates regarding future revenue, expenses, capital requirements and need for additional financing.

New factors emerge from time-to-time, and it is not possible for ZyVersa to predict all such factors, nor can ZyVersa assess the impact of each such factor on the business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements. Forward-looking statements included in this press release are based on information available to ZyVersa as of the date of this press release. ZyVersa disclaims any obligation to update such forward-looking statements to reflect events or circumstances after the date of this press release, except as required by applicable law.

This press release does not constitute an offer to sell, or the solicitation of an offer to buy, any securities.

Corporate and IR Contact:

Karen Cashmere
Chief Commercial Officer
kcashmere@zyversa.com
786-251-9641        

Media Contacts
Tiberend Strategic Advisors, Inc.
Casey McDonald
cmcdonald@tiberend.com
646-577-8520

Dave Schemelia
dschemelia@tiberend.com
609-468-9325

Release – MustGrow Completes Initial Commercial Production Run via Contract Manufacturer

Posted on by aweinsoff@channelchek.com
  • Succesful completion of initial commercial run-rate production via third-party contract manufacturer.
  • Production run-rate of the extract reached greater than the equivalent of 5,000 litres per day of MustGrow’s mustard plant-based biocontrol liquid technology.
  • Estimated equivalent annual capacity equates to approximately US$25 million in grower level revenue without the need to construct capital intensive production facilities.

SASKATOON, Saskatchewan, Canada, Jun. 13, 2023 – MustGrow Biologics Corp. (TSXV: MGRO) (OTC: MGROF) (FRA: 0C0) (the “Company” or “MustGrow”), is pleased to announce the successful initial commercial run-rate production of its mustard plant-based biocontrol liquid via a contract manufacturer.

MustGrow believes this production milestone further validates the Company’s commercialization strategy to initially utilize a third party contract manufacturer rather than construct its own capital-intensive pilot and/or commercial production facilities. The continuous production run-rate of the extract reached greater than the equivalent of 5,000 litres per day of MustGrow’s mustard plant-based biocontrol liquid technology, which is estimated to equal approximately US$25 million in annual grower level revenue. The production process created zero residual waste by generating a high protein byproduct ingredient for animal feed.

MustGrow’s CEO, Corey Giasson noted: “This is a key transition for MustGrow, now able to complete our first commercial-level production without needing to build our own capital-intensive facility.  We are now confident that we will be capable of producing commercially-scalable quantities of TerraSanteTM and TerraMGTM in preparation for initial registration approvals.  The continuous-flow design process ran without any reported upsets and we are close to maximum theoretical recovery of our targeted mustard extracts in the concentrate. This milestone successfully demonstrates a low-risk continuous-flow process, while further mitigating commercialization risk.”

Utilizing a third party contract manufacturer markedly derisks commercial capabilities in MustGrow’s soil amendment and biofertility technologies, as well as biocontrol and postharvest food preservation, which are currently under development with four global partners: Janssen PMP, Bayer, Sumitomo Corporation, and NexusBioAg.

———

About MustGrow

MustGrow is an agriculture biotech company developing organic biocontrol, soil amendment and biofertility products by harnessing the natural defense mechanism and organic materials of the mustard plant to sustainably protect the global food supply and help farmers feed the world.  MustGrow and its leading global partners — Janssen PMP (pharmaceutical division of Johnson & Johnson), Bayer, Sumitomo Corporation, and Univar Solutions’ NexusBioAg — are developing mustard-based organic solutions to potentially replace harmful synthetic chemicals.  Concurrently, with new formulations derived from food-grade mustard, the Company is pursuing the adoption and use of its technology in the soil amendment and biofertily markets.  Over 150 independent tests have been completed, validating MustGrow’s safe and effective approach to crop and food protection and yield enhancements.  Pending regulatory approval, MustGrow’s patented liquid products could be applied through injection, standard drip or spray equipment, improving functionality and performance features.  Now a platform technology, MustGrow and its global partners are pursuing applications in several different industries from preplant soil treatment and weed control, to postharvest disease control and food preservation, to soil amendment and biofertility.  MustGrow has approximately 49.7 million basic common shares issued and outstanding and 55.6 million shares fully diluted.  For further details, please visit www.mustgrow.ca.

ON BEHALF OF THE BOARD

“Corey Giasson”

Director & CEO
Phone: +1-306-668-2652
info@mustgrow.ca

MustGrow Forward-Looking Statements

Certain statements included in this news release constitute “forward-looking statements” which involve known and unknown risks, uncertainties and other factors that may affect the results, performance or achievements of MustGrow.

Generally, forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “expects”, “is expected”, “budget”, “estimates”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might”, “occur” or “be achieved”.  Examples of forward-looking statements in this news release include, among others, statements MustGrow makes regarding: (i) estimated grower level revenue; (ii) the ability of the Company to produce commercially-scalable quantities of TerraSanteTM and TerraMGTM; (iii) risk levels associated with the continuous flow process; (iv) the continued success of its commercialization strategey including the commercial run-rate production of its mustard plant-based biocontrol liquid via a contract manufacturer; and (v) the maximum theoretical recovery of targeted mustard extracts in the concentrate.

Forward-looking statements are subject to a number of risks and uncertainties that may cause the actual results of MustGrow to differ materially from those discussed in such forward-looking statements, and even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on, MustGrow.  Important factors that could cause MustGrow’s actual results and financial condition to differ materially from those indicated in the forward-looking statements include, among others, the following: (i) the preferences and choices of agricultural regulators with respect to product approval timelines; (ii) the ability of MustGrow’s partners to meet obligations under their respective agreements; and (iii) other risks described in more detail in MustGrow’s Annual Information Form for the year ended December 31, 2022 and other continuous disclosure documents filed by MustGrow with the applicable securities regulatory authorities which are available at www.sedar.com.  Readers are referred to such documents for more detailed information about MustGrow, which is subject to the qualifications, assumptions and notes set forth therein.

This release does not constitute an offer for sale of, nor a solicitation for offers to buy, any securities in the United States.

Neither the TSXV, nor their Regulation Services Provider (as that term is defined in the policies of the TSXV), nor the OTC Markets has approved the contents of this release or accepts responsibility for the adequacy or accuracy of this release.

© 2023 MustGrow Biologics Corp. All rights reserved.

Will 2023 Be the Summer of Small-Cap Stocks?

Posted on by phoffman@channelchek.com

The Mid-Year Sector Rotation is Benefitting Small-Cap Investors

“This time is different” is a saying often used in investing, usually just before the investor does something that they will soon regret. I say “regret” because, although the timing of patterns that have repeated themselves time and time again may change, well-entrenched investment rules very rarely change.

Over the past year, what I have perceived as undervalued stocks – coincidentally, all companies with a small market cap – have been prominently placed on my stocks watchlist.   While last year was a bad year for most of the market, these underperformed during that down market. So, they became even cheaper. I fully expected the stocks to eventually get investor attention and begin to move upwaard – in fact, I have had reason to believe this for a while of the small-cap sector in general.

While these watchlist stocks, in my mind, became even better values, I never told myself the market may have fundamentally changed, which would mean small caps will no longer be the relied-upon outperformers over time, as they have been historically. I did not think that “this time it might be different.”

Based on the two major small-cap indexes stellar performance so far this June, and a couple of my watchlist stock’s movements, my long wait may have been worthwhile and may soon be replaced by action.

Source: Koyfin

S&P 600 & Russell 2000 Indexes

Small-cap stocks have certainly turned up the heat so far in June. What’s more, is the larger indexes would seem to be losing steam as they have run so far for so long that, unless this time is different, they may be due for a retrenchment.

The renewed enthusiasm for the smaller and perhaps riskier stocks, over large caps, with businesses that tend to be more diversified, have deeper pockets, and more overall resources, is likely based on a number of normal factors. Smaller companies tend to operate leaner, so a higher percentage of revenue can flow to the bottom line in a growing economy. The two-week-old rally comes as many cyclical stocks, and industries that do best in a growing economy are springing to life, especially since the debt ceiling negotiations have been resolved, the banking system is seen as out of trouble, and the Fed has broken records in its tightening pace yet still unemployment is low.

The reduced clouds on the horizon and higher multiples of large-cap stocks seem to have given investors motivation to move to small cap stocks with lower multiples, and with less fear of the economy falling apart any time soon.

Investors are rotating into companies with lower market caps. Looking above at the two small-cap indexes, the S&P 600 (IJS as a proxy) is low in tech stocks that are heavily weighted in the worse-performing indexes. Financials and industrials make up 34% (tech is just 14%) of the S&P 600 Small-caps. The S&P 600 is up 8.87% so far in June compared to the large cap S&P 500 which only gained half as much. The Russell 2000 Small-cap Index is up 8.55% so far in June. This is also the month when investors watch the Russell Reconstitution, which is the rebalancing of the Russell 3000, Russell 1000, and Russell 2000 index based on remeasuring market-caps on the top 3000 stocks. There will be a great deal of attention to the reshuffling come the last Friday of the month.

Take Away

Is it different this time? Are small cap stocks going to play catch up as investors, hungry for value, and growing concerned that larger companies may be overvalued, and an overall increased comfort level that fewer dangers loom on the economic horizon, rotate some assets there? They have whetted their appetite, if the outperformance continues, I suspect they may go back for seconds, then others might join.

Paul Hoffman

Managing Editor, Channelchek

Sources

https://www.economist.com/media/pdf/this-time-is-different-reinhart-e.pdf

https://www.barrons.com/articles/small-cap-stocks-apple-big-tech-9d3b5669

Pause, Pivot, or Push Higher – What to Review After the FOMC Announcement

Posted on by phoffman@channelchek.com

The FOMC Member’s Change in Sentiment is a Big Focus

Whether the Fed moves rates up after the June FOMC or not could mean little to whether there is additional drag on the economy. The short end of the yield curve, where savers benefit, has risen each time the Fed has raised rates. Out further, the 10-year T-Note, which is the benchmark for 30-year mortgages and from which corporate 10-year notes are spread, has been remarkably steady. Nine months ago, when Fed Funds were 3.00%- 3.25%, the 10-Year Treasury yielded 3.76%. Today the Fed Funds target rate is 5.00-5.25%, the 10-Year is still at 3.76%. This may be why the Fed has had a difficult time reeling in inflation, longer interest rates, where they impact the economy most, had reached 4.25% last October, the Fed has since tightened 200bp, and 10-year rates have traded around 50 bp lower     since the October high, despite the tightening. And for the same reason, mortgage rates are lower now than they were last October.

Summary Of Economic Projections

More meaningful for market participants might be the Summary of Economiuc Projections (SEP). Outside of a normal knee-jerk reaction after Wednesday’s policy announcement, or a quick trade that can be had off Powell’s press conference remarks, what the Fed members now expect by year-end is a better indication of any new mindset on monetary policy.  

The Summary of Economic Projections includes estimates from the FOMC members showing where they see rates at the end of 2023 (and beyond). At the March meeting (see below), most of the Fed policymakers saw rates staying at current levels, with a few signaling additional hikes may be coming. While Powell will answer questions at the press conference that may be indicative of what they are thinking, the change in the SEP numbers (released in the statement after the meeting) is a better indicator of whether the Fed is now more hawkish or dovish.

Source:  Board of Governors of the Federal Reserve System

A big shift toward expectations of higher rates would indicate a more hawkish stance. It will be useful to note how projections have evolved compared to March – Chair Powell will, of course, provide further color through his press conference.

Pause, Pivot, or Push Higher

Has the view changed with recent economic data? Was the view in March skewed by what could have turned into a banking crisis? We’ll see in hard numbers, without reading between any lines. We can see in black and white what the aggregate thinking is of the members when behind closed doors, where the important discussions happen – inside the FOMC meeting room.

After the announcement, Channelchek subscribers will receive a summary in their email of the announcement, changes in language from previous meetings, and the new SEP to compare any change in sentiment (subscribe at no cost).

While the actual impact on the overall economy of a 25bp move compared to a Fed pause may have little impact on the economy, company earnings, or even Treasury Bonds, each time the Fed raises overnight rates, there are investors that are more comfortable with a larger allocation of cash. Depending on where “uninvested” assets are held, they may be earning near 5%. This is a risk to stock prices as some investors may find be comfortable with money market returns for a larger portion of their portfolios. Fewer assets in the stock market have a depressing effect on prices.

Take Away

While pre and post-Fed meeting investor conversations tend to swirl around words like, “pause”, “pivot”, and “tighten”, the Fed’s overall change in rate expectations, which they have the most control over, is more telling than any polished statement or press briefing. These numbers are on the SEP report.

Paul Hoffman

Managing Editor, Channelchek

Sources

https://ycharts.com/indicators/10_year_treasury_rate

Release – Snail Inc. Participates in the 3XP Web3 Gaming Expo

Posted on by aweinsoff@channelchek.com

Research News and Market Data on SNAL

June 12, 2023 at 8:31 AM EDT

CULVER CITY, Calif., June 12, 2023 (GLOBE NEWSWIRE) — Snail, Inc. (Nasdaq: SNAL) (“Snail”), a leading, global independent developer and publisher of interactive digital entertainment, today announced its participation at the recent 3XP Web3 Gaming Expo. The event was held at the Pasadena Convention Center in California from June 8-9th.

Jim Tsai, Chief Executive Officer of Snail, participated in a panel discussion titled “Blockchain & Traditional Gaming: Competitors or Collaborators?” as a guest speaker. In the discussion, Mr. Tsai shared insightful perspectives on the converging landscapes of blockchain technology and traditional gaming, adding a unique dimension to this critical industry dialogue.

The 3XP Web3 Gaming Expo is an annual event for gamers, developers, investors, and enthusiasts to come together and explore the newest technologies and gaming trends in the web3 gaming industry. It includes a variety of speakers, vendors, competitions, and activities designed to appeal to the modern gaming demographic, serving as a comprehensive platform for the exploration and celebration of innovations in the web3 gaming landscape.

Jim Tsai remarked, “We are excited about our participation at the 3XP Web3 Gaming Expo. Our engagement at the Expo underscores Snail’s commitment to remaining at the forefront of emerging trends and technological evolution in the gaming sector. The Expo offered us a unique platform to connect with fellow industry leaders, fostering an environment conducive to mutual learning and potential strategic partnerships. We are committed to leveraging these opportunities to further augment Snail’s market presence and diverse offerings.”

About Snail, Inc.

Snail is a leading, global independent developer and publisher of interactive digital entertainment for consumers around the world, with a premier portfolio of premium games designed for use on a variety of platforms, including consoles, PCs and mobile devices.

Forward-Looking Statements

This press release contains statements that constitute forward-looking statements. Many of the forward-looking statements contained in this press release can be identified by the use of forward-looking words such as “anticipate,” “believe,” “could,” “expect,” “should,” “plan,” “intend,” “may,” “predict,” “continue,” “estimate” and “potential,” or the negative of these terms or other similar expressions. Forward-looking statements appear in a number of places in this press release and include, but are not limited to, statements regarding Snail’s intent, belief or current expectations. These forward-looking statements include information about possible or assumed future results of Snail’s business, financial condition, results of operations, liquidity, plans and objectives. The statements Snail makes regarding the following matters are forward-looking by their nature: growth prospects and strategies; launching new games and additional functionality to games that are commercially successful; expectations regarding significant drivers of future growth; its ability to retain and increase its player base and develop new video games and enhance existing games; competition from companies in a number of industries, including other game developers and publishers and both large and small, public and private Internet companies; its relationships with third-party platforms such as Xbox Live and Game Pass, PlayStation Network, Steam, Epic Games Store, the Apple App Store, the Google Play Store, My Nintendo Store and the Amazon Appstore; the potential for strategic partnerships; and assumptions underlying any of the foregoing.

Contacts:

Investors:

investors@snail.com 

Release – Ocugen, Inc. Announces Adjournment Of Annual Meeting Of Shareholders

Posted on by aweinsoff@channelchek.com

Research News and Market Data on OCGN

June 9, 2023

MALVERN, Pa., June 09, 2023 (GLOBE NEWSWIRE) — Ocugen, Inc. (Ocugen or the Company) (NASDAQ: OCGN), a biotechnology company focused on discovering, developing, and commercializing novel gene and cell therapies, biologics, and vaccines, today announced that the Company’s 2023 Annual Meeting of Shareholders (Annual Meeting) was convened and adjourned, without any business being conducted, due to lack of the required quorum.

A quorum consists of the presence at the Annual Meeting either online during the live audio webcast or represented by proxy of the holders of a majority of the voting power of our outstanding shares of common stock entitled to vote at the Annual Meeting. There were fewer than a majority of shares entitled to vote present, either in person or by proxy at the Annual Meeting. The Annual Meeting therefore had no quorum, and accordingly, the Annual Meeting has been adjourned. The Annual Meeting will resume with respect to all proposals at 11 a.m. Eastern Time on Friday, June 23, 2023 and will continue to be held virtually.

The record date for determining shareholders eligible to vote at the Annual Meeting will remain the close of business on April 13, 2023. Shareholders who have already submitted a proxy do not need to vote again for the reconvened Annual Meeting, as the proxies submitted will remain valid. Shareholders who have already submitted proxies and would like to change their vote with respect to any of the proposals can update their vote in the manner set forth in the Definitive Proxy Statement. Your vote will be recorded at the Annual Meeting in accordance with your most recently submitted proxy.

Ocugen shareholders as of close of business on the April 13, 2023 record date who have not yet voted are encouraged to vote online at www.proxyvote.com or by telephone at 1-800-690-6903. Shareholders that need assistance voting or have questions, may contact Ocugen’s proxy solicitation firm, Innisfree M&A Incorporated, at (877) 750-8198.

Voting on all proposals will be open until the conclusion of Ocugen’s 2023 Annual Meeting on June 23, 2023.

If you hold your shares of our common stock with a broker, bank, or other holder of record as nominee or agent, you may be subject to an earlier voting deadline and you should carefully review any materials received from the nominee or agent regarding how to vote your shares.

A copy of the Definitive Proxy Statement is available to shareholders on the Company’s website and at the website maintained by the SEC at www.sec.gov.

Ocugen shareholders as of the April 13, 2023 record date for the Annual Meeting are invited to attend the virtual Annual Meeting by visiting www.virtualshareholdermeeting.com/OCGN2023.

Important Information

This material may be deemed to be solicitation material in respect of the Annual Meeting to be reconvened and held on June 23, 2023. In connection with the Annual Meeting, the Company filed a Definitive Proxy Statement with the SEC on April 20, 2023. BEFORE MAKING ANY VOTING DECISIONS, SECURITY HOLDERS ARE URGED TO READ THE DEFINITIVE PROXY STATEMENT AND ANY OTHER RELEVANT DOCUMENTS FILED WITH THE SEC, BECAUSE THEY CONTAIN IMPORTANT INFORMATION ABOUT THE ANNUAL MEETING. The Definitive Proxy Statement was mailed to shareholders who are entitled to vote at the Annual Meeting. No changes have been made to the proposals to be voted on by shareholders at the Annual Meeting. The Company’s Definitive Proxy Statement and any other materials filed by the Company with the SEC can be obtained free of charge at the SEC’s website at www.sec.gov or the Company’s website www.ocugen.com.

About Ocugen, Inc.
Ocugen, Inc. is a biotechnology company focused on discovering, developing, and commercializing novel gene and cell therapies, biologics, and vaccines that improve health and offer hope for patients across the globe. We are making an impact on patient’s lives through courageous innovation—forging new scientific paths that harness our unique intellectual and human capital. Our breakthrough modifier gene therapy platform has the potential to treat multiple retinal diseases with a single product, and we are advancing research in infectious diseases to support public health and orthopedic diseases to address unmet medical needs. Discover more at www.ocugen.com and follow us on Twitter and LinkedIn.

Cautionary Note on Forward-Looking Statements
This press release contains forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995, which are subject to risks and uncertainties. We may, in some cases, use terms such as “predicts,” “believes,” “potential,” “proposed,” “continue,” “estimates,” “anticipates,” “expects,” “plans,” “intends,” “may,” “could,” “might,” “will,” “should,” or other words that convey uncertainty of future events or outcomes to identify these forward-looking statements. Such statements are subject to numerous important factors, risks, and uncertainties that may cause actual events or results to differ materially from our current expectations. These and other risks and uncertainties are more fully described in our periodic filings with the Securities and Exchange Commission (SEC), including the risk factors described in the section entitled “Risk Factors” in the quarterly and annual reports that we file with the SEC. Any forward-looking statements that we make in this press release speak only as of the date of this press release. Except as required by law, we assume no obligation to update forward-looking statements contained in this press release whether as a result of new information, future events, or otherwise, after the date of this press release.

Contact:
Tiffany Hamilton
Head of Corporate Communications
IR@ocugen.com 

Lifeway Foods (LWAY) – A Chat With David Kanen

Posted on by cpereira@noblefcm.com


Monday, June 12, 2023

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.

A Chat. We had an opportunity to speak with David Kanen about his Lifeway investment and letter to the Board. Mr. Kanen reiterated a number of points he brought up in his letter, which we encourage investors to read. Mr. Kanen noted his desire to see other investors become familiar with the Lifeway opportunity.

What About the Proxy Contest? Mr. Kanen observed that, in his opinion, even if Edward and Ludmila Smolyansky are unable to mount a proxy contest this year, the terms of the settlement agreement would enable Edward and Ludmila to renew their quest at the 2024 annual meeting.


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. 

Comtech Telecommunications (CMTL) – Third Quarter Results Released

Posted on by cpereira@noblefcm.com


Monday, June 12, 2023

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, 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.

Delivering on the Transformation. Led by CEO Ken Peterman, Comtech is delivering on its transformation. 3Q23 was the sixth consecutive quarter of top line revenue growth, with improving adjusted EBITDA margins. The Company is seeing noticeable improvement in its growth and profit improvement initiatives, in our view.

3Q23 Results. Revenue of $136.3 million was up 1.9% sequentially, within guidance. Y-o-Y revenue was up 11.6%. We were at $136 million. Adjusted EBITDA totaled $12.5 million, versus $11.2 million in 3Q22. We were at $12.2 million. Comtech reported a net loss of $9.2 million, or a loss of $0.33 per share, compared to a net loss of $1.7 million, or $0.06 per share last year. Adjusted EPS was $0.11 versus $0.25. We had forecast a net loss of $4 million, or a loss of $0.14 per share and adjusted EPS of $0.12.


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. 

Why a Recent Housing Survey Returned Such Extreme Results

Posted on by phoffman@channelchek.com

Home Buying Versus Home Selling Conditions

The underlying dynamics of the housing market are not what one might expect. Especially with home prices still near its peak after mortgage rates more than doubled over the past year and a half. One of the unique nuances of today’s housing market is what some are calling the “golden handcuffs” that may apply to anyone who has a home with a mortgage of 3.5% or lower. These owners are slow to sell; this is keeping a supply of homes off the market. The lack of homes for sale is keeping prices up despite the higher cost of borrowing. As witnessed in a monthly survey conducted by Fannie Mae, the attitudes of adults in the U.S., as it relates to buying, or selling, are fairly extreme, with many of the survey responses hit all-time highs and lows in terms of expectations.

Fannie Mae’s National Housing Survey

The National Housing Survey (NHS) is a monthly temperature check of attitudes among the general population related to home-owning, renting, household finances, and confidence in the economy. Each respondent is asked more than 100 questions; this makes the survey far more detailed than other measures of housing attitudes or expectations. Six of the questions are used to derive the Home Purchasing Sentiment Index (HPSI).

The overall economy typically benefits from housing turnover, as new buyers decorate and make a house, or condo, a home.

Below is the noteworthy response data from the six questions Fannie Mae uses for its index.

Home Purchase Sentiment Index  (HPSI)

Fannie Mae’s Home Purchase Sentiment Index (HPSI) decreased in May by 1.2 points to 65.6. The HPSI is down 2.6 points compared to the same time last year.

Below are the May statistics on some of the most relevant questions.

Good/Bad Time to Buy:

The percentage of respondents who say it is a good time to buy a home decreased from 23% to 19%, while the percentage who say it is a bad time to buy increased from 77% to 80%. As a result, the net share of those who say it is a good time to buy decreased by 7 percentage points month over month.

Good/Bad Time to Sell:

The percentage of respondents who say it is a good time to sell a home increased from 62% to 65%, while the percentage who say it’s a bad time to sell decreased from 38% to 34%. As a result, the net share of those who say it is a good time to sell increased 8 percentage points month over month.

Source: Fannie Mae NHS Data Release

Home Price Expectations:

The percentage of respondents who say home prices will go up in the next 12 months increased from 37% to 39%, while the percentage who say home prices will go down decreased from 32% to 28%. The share who think home prices will stay the same increased from 31% to 33%. As a result, the net share of those who say home prices will go up increased 6 percentage points month over month.

Mortgage Rate Expectations:

The percentage of respondents who say mortgage rates will go down in the next 12 months decreased from 22% to 19%, while the percentage who expect mortgage rates to go up increased from 47% to 50%. The share who think mortgage rates will stay the same remained unchanged at 31%. As a result, the net share of those who say mortgage rates will go down over the next 12 months decreased five percentage points month over month.

Job Loss Concern:

The percentage of respondents who say they are not concerned about losing their job in the next 12 months decreased from 79% to 77%, while the percentage who say they are concerned increased from 21% to 22%. As a result, the net share of those who say they are not concerned about losing their job decreased three percentage points month over month.

Household Income:

The percentage of respondents who say their household income is significantly higher than it was 12 months ago decreased from 24% to 20%, while the percentage who say their household income is significantly lower increased from 11% to 12%. The percentage who say their household income is about the same increased from 64% to 67%. As a result, the net share of those who say their household income is significantly higher than it was 12 months ago decreased five percentage points month over month.

Spring is typically a time when people look to buy homes. With summer less than two weeks away, many who might have purchased a new home opted to wait, or could not find what they were looking for. “As we near the end of the spring homebuying season, the latest HPSI results indicate that affordability hurdles, including high home prices and mortgage rates, remain top of mind for consumers, most of whom continue to tell us that it’s a bad time to buy a home but a good time to sell one,” said Mark Palim, Fannie Mae Vice President and Deputy Chief Economist.

“Consumers also indicated that they don’t expect these affordability constraints to improve in the near future, with significant majorities thinking that both home prices and mortgage rates will either increase or remain the same over the next year. Notably, the same factors impacting affordability may also be affecting the perceived ease of getting a mortgage. This was particularly true among renters: 81% believe it would be difficult to get a mortgage today, matching a survey high,” according to Palim.

Take Away

Consumers don’t expect housing affordability to improve anytime soon. At the same time, and for related reasons, rents have increased. As with most markets, one would expect if the buyers step back, prices might come down in response. An odd dynamic at play now, though, is that many people that are in a home, are staying put because moving might mean saying goodbye to a mortgage rate near 3% and then having to secure one that is nearly five percentage points higher.

Paul Hoffman

Managing Editor, Channelchek

Biotech Companies to Benefit from AI Efficiencies and Analysis

Posted on by phoffman@channelchek.com

Enabling Better Drug Discovery Outcomes with Machine Learning

Can the long road to bring new medical treatments or therapies to market be shortened by introducing artificial intelligence? AI applied to the early stage of the discovery process, which often involves new insight into a disease or treatment mechanism, may soon provide researchers many more potential candidates or designs to evaluate. AI can also help in the sorting and evaluation of these candidates to improve the success rates of those that make it into the lab for further study.

Benefits AI Brings to Biotech Research

The cost of bringing a single drug to market in terms of time and money is substantial. Estimates are in the $2.8 billion range, and the average timeline for drug development exceeds a decade. On top of this, there is a low level of certainty of taking a promising molecule all the way to market. The success rate of translating preclinical research findings into effective clinical treatments is low; failure rates are estimated to be around 90%.

The refinement of digital sorting and calculating with advanced computational technologies, such as artificial intelligence (AI) and machine learning (ML), have the potential to revolutionize pharmaceutical research and development (R&D). Despite it still being a young technology, AI-enabled applications and algorithms are already making an impact in drug discovery and development processes.

One of the significant benefits of ML in drug development is its ability to recognize patterns and unveil insights that might be missed by conventional data analysis or take substantially less time to recognize. AI, and ML technologies can help a biotech company do precursory evaluation, accelerate the design and testing of molecules, streamline the testing processes, and provide a faster understanding along the way if the molecule will perform as expected. With improved clinical success and reduced costs throughout the development pipeline, AI may be shot in the arm the industry needs.

Adoption of AI in Biotechnology

While any full-scale adoption of AI in the pharmaceutical industry is still evolving and finding its place, implementation and investment are growing. Top global pharmaceutical companies have increased their R&D investment in AI by nearly 25% over the past three years – this indicates a recognition of the perceived benefits.

The interest and investment in AI drug discovery is fueled by several factors. As touched on earlier, a more efficient and cost-effective drug development process would be of great benefit. AI can significantly reduce both time and cost. And the sooner more effective treatments are available, the better. Chronic diseases, such as cancer, autoimmune problems, neurological disorders, and cardiovascular diseases, creates an ongoing demand for improved drugs and therapies. AI’s ability to analyze vast amounts of data, identify patterns, and then learn from the information at an accelerated rate can allow researchers to shorten timelines to final conclusions.  

Even more exciting is the growing availability of large datasets thanks to the rise of big data. With an increase in the volume, variety and velocity of data, and the AI-assisted ability to make sense of it, outcomes are expected to be improved. These datasets, obtained from various sources like electronic medical records and genomic databases, allow successful AI applications in drug discovery. Technological advancements, especially in ML algorithms, have been contributing to the growth of AI in medicine. And they are growing more sophisticated, allowing for accurate pattern identification in complex biological systems. Collaborations between academia, industry, and government agencies have further accelerated growth sharing knowledge and resources.

Trends in AI and ML Biotechnology

While considered a young technological field, AI-enabled drug discovery is being shaped by a number of new trends and technologies. Modern AI algorithms are now capable of analyzing intricate biological systems and foretelling the effects of medications on human cells and tissues. By detecting probable adverse effects early on in the development phase, the predictive ability helps prevent failures in the later stages.

By generating candidates that fit certain requirements, generative models can accelerate the design of completely new medications. But other technology is also now available to assist. By offering scalable processing resources, cloud computing dramatically cuts down on both time and expense. By simulating the interaction of hundreds of chemicals with disease targets, virtual drug screening enables the fast screening of drugs.

A higher understanding of disease biology and the discovery of new therapeutic targets is being made possible by integrative techniques that incorporate many data sources not available a short while ago.

Constraints on AI-Assisted Biotech Research

While AI can speed up certain aspects of drug discovery, it cannot replace most traditional lab testing. Hands-on experimentation and data collection on living organisms are expected to always be necessary, many of these processes during the clinical trial stages cannot be sped up.

Regulatory bodies, like the FDA, are also cautious about embracing AI fully, raising concerns about transparency and accountability in decision-making processes.

.

Take Away

The near future of artificial intelligence and machine learning assuming a larger role in enabling drug discovery and more efficient R&D looks bright. The technology offers real promise for more efficient and cost-effective drug development processes – this would address the need for new therapies for chronic diseases.

The time-consuming process of testing on real subjects is not expected to be replaced or overly streamlined by technology, but finding subjects and evaluating results can also benefit from the new technology.

Paul Hoffman

Managing Editor, Channelchek

Sources

https://5058440.fs1.hubspotusercontent-na1.net/hubfs/5058440/cold%20outreach%20use%20case%20images/Pathways%20for%20Successful%20AI%20Adoption%20in%20Drug%20Development%20-%20VeriSIM%20Life.pdf

https://www.mckinsey.com/industries/life-sciences/our-insights/ai-in-biopharma-research-a-time-to-focus-and-scale

https://www.drugdiscoveryonline.com/doc/the-global-market-for-ai-in-drug-discovery-to-sextuple-by-0001

https://www.mckinsey.com/industries/life-sciences/our-insights/we-can-invent-new-biology-molly-gibson-on-the-power-of-ai

https://www.fda.gov/patients/learn-about-drug-and-device-approvals/drug-development-process

The Week Ahead –  FOMC Meet, Quadruple Witching Hour, Consumer Inflation

Posted on by phoffman@channelchek.com

This Week’s Events are Sure to Keep Investors on Their Toes

I wouldn’t want to be Fed Chair Jerome Powell this week. The June 13-14 FOMC meeting may be the first meeting of the Committee that sets monetary policy, since January 2022, when a tightening of monetary targets doesn’t occur. The decision will come down to the wire as very important inflation data won’t be released until the first day of the meeting on Tuesday. While most on the Committee have expressed seeing current inflation data as problematic, there usually is a delay between when the Fed first alters policy, and the impact it creates.


Whether the Fed again acts to slow the economy, or takes a breather, announced at 2:00 on Wednesday, Powell will face reporters having to explain the Fed’s action or inaction. With likely less personal conviction than at previous press briefings, his responses may be more general than usual.

Monday 6/12


• 2:00 PM ET, The Treasury Statement is the U.S. Treasury’s release of a monthly accounting of the surplus or deficit of the government. Changes in the budget balance reflect Federal policy on spending and taxation. Forecasters see a $205.0 billion deficit in May that would compare with a $66.2 billion deficit in May one year ago, and a surplus of $176.2 billion in April this year.

Tuesday 6/13


• The June FOMC Meeting begins day one of two.


• 6:00 AM ET, NFIB Small Business Optimism Index has been below the historical average of 98 for the past 16 months in a row. May’s consensus is for a decline to 88.4 versus 89.0 in April.


• 8:30 AM ET, The Consumer Price Index this month could move markets significantly if there is a significant change in the data from the previous month. Core price increases in May are not expected to have slowed. They are expected to keep their pace of April’s 0.4 percent monthly increase. The core’s year-over-year rate is seen easing to 5.3 from 5.5 percent. Overall price increases are expected to halve to 0.2 percent on the month from 0.4 percent and 4.1 percent on the year from 4.9 percent.

Wednesday 6/14

• 8:30 PM ET, The Producer Price Index – Final Demand number is another important inflation index that the FOMC members may want to peak at before voting Wednesday on any policy shift. After rising 0.2 percent in April, producer prices in May are expected to fall 0.1 percent. The annual rate in May is seen at 1.6 percent versus April’s plus 2.3 percent. May’s ex-food ex-energy rate is seen up 0.2 percent on the month and up 2.9 percent on the year, matching April’s 0.2 percent monthly rise and just below the month’s 3.2 percent yearly rate.


• 10:30 AM ET, The Energy Information Administration (EIA) will be providing its scheduled weekly information on petroleum inventories, whether produced in the US or abroad. The level of inventories helps determine prices for petroleum products.


• 2:00 PM ET, The FOMC Announcement is when the world gets to learn what the Fed decision is on interest rates, and why.


• 2:30 PM ET, The FOMC Chair press briefing provides additional context to the just announced direction of the FOMC’s policy decision. The questions and answers with the media can shed far more light of the intentions of the Committee than the carefully worded statement released at 2PM.

Thursday 6/15


• 8:30 AM ET, Jobless Claims for the June 10 week are expected to ease back to 250,000 versus the prior week’s large 28,000 jobs jump to 261,000. This has been a very closely watched report. If as expected, it would indicate the Fed has room to tighten further if other data remain strong.


• 8:30 AM ET, May Retail Sales are expected to be unchanged, matching April’s 0.4 percent rise.


• 8:30 PM ET, The Philadelphia Fed (Philly Fed) manufacturing index has been in contraction for the last ten reports. At minus 10.4 in May, with June’s consensus is at minus 13.2.


• 9:15 PM ET, Industrial Production is expected to push 0.1 percent higher in May after April’s 0.5 percent increase that was boosted by manufacturing output which jumped a surprising 1.0 percent. Manufacturing in May is seen up 0.2 percent.


• 4:30 PM ET, The Fed’s Balance Sheet is a weekly report presenting a consolidated balance sheet for all 12 Reserve Banks that lists factors supplying reserves into the banking system and factors absorbing reserves from the system. This has ben getting more attention as it indicates if the fed is on track with its announced quantitative tightening and if any bank borrowing has dramatically increased.

Friday 6/16


• 10:00 AM ET, Consumer Sentiment will be the first indication for June. It fell by 4.3 points to 59.2 last month, it is expected to inch up and report 60.5.


• Quadruple Witching is a phrase used to refer to the expiration of four different derivative contracts: Stock index futures, Stock index options, Single-stock options, Single-stock futures. Quadruple witching happens four times a year, on the third Friday of March, June, September, and December. It is a time of heightened volatility in the markets, as traders adjust their positions in anticipation of the expiration of these contracts.

What Else


The key factors that the Fed will consider when making its decision are the pace and trend of economic growth, the level of inflation, the strength of the labor market, and the risk of recession.
Additionally, the FOMC will have to determine if the moves to date will have a more substantial impact if allowed to have more time to have an impact.


While OPEC is cutting output and it seems like we are on a path of oil and natural gas prices again inching up, Alvopetro Energy (ALVOF), an enviable gas company, headquartered in Canada, operating in Brazil, will be conducting roadshows in New York and St. Louis. Learn more about attending here.
Paul Hoffman
Managing Editor, Channelchek

Lifeway Foods (LWAY) – Family Drama Part Two; With A Twist

Posted on by cpereira@noblefcm.com


Friday, June 09, 2023

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.

Family. The saga between Lifeway CEO Julie Smolyansky and her brother, Edward, and mother, Ludmila, continues, with each side claiming the other breached the Proxy settlement reached last July. While the legal battle continues to unfold, the most recent Court decisions determined, “… no basis in law or fact that remains as to the invalidity of Mr. Smolyansky’s nomination of an alternate slate of directors and such nomination is void ab initio and is not a valid solicitation,” according to the Company.

The Twist. In a twist, David Kanen of Kanen Wealth Management issued a letter sent to Julie Smolyansky and the Board of Directors. According to the letter, Mr. Kanen owns approximately 4.1% of the outstanding LWAY shares and intends to vote his shares in support of the recent slate nominated by Edward and Ludmila Smolyansky.


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.