Category:

Release – Great Lakes Dredge and Dock Corporation Announces Participation in Noble Capital Markets’ C-Suite Interview Series

Posted on by dburczyk@noblecapitalmarkets.com

Research News and Market Data on GLDD

HOUSTON, Sept. 09, 2024 (GLOBE NEWSWIRE) — Great Lakes Dredge & Dock Corporation (“Great Lakes” or the “Company”) (NASDAQ: GLDD), the largest provider of dredging services in the United States, today announced its participation in Noble Capital Markets’ C-Suite Interview Series, presented by Channelchek.

Great Lakes’ President and Chief Executive Officer Lasse Petterson, SVP and Chief Financial Officer Scott Kornblau, and SVP, Offshore Wind Eleni Beyko, Ph.D. recently sat down with Noble Capital Markets Research Analyst Joe Gomes for this exclusive interview. Topics covered include:

  • An update on the Acadia vessel and expected delivery
  • The Acadia’s competition in the domestic market
  • The advantages of being a “Jones Act” vessel
  • The near-term challenges in the domestic offshore wind market
  • The opportunities in the international offshore wind market
  • The markets for the Acadia outside of offshore wind
  • An overview of the dredging market
  • The greatest challenges for the Company going forward

The interview was recorded on Aug. 28, 2024, and is available now on Channelchek.

The Company
Great Lakes Dredge & Dock Corporation (“Great Lakes” or the “Company”) is the largest provider of dredging services in the United States. In addition, Great Lakes is fully engaged in expanding its core business into the rapidly developing offshore wind energy industry. The Company has a long history of performing significant international projects. The Company employs experienced civil, ocean and mechanical engineering staff in its estimating, production and project management functions. In its over 134-year history, the Company has never failed to complete a marine project. Great Lakes owns and operates the largest and most diverse fleet in the U.S. dredging industry, comprised of approximately 200 specialized vessels. Great Lakes has a disciplined training program for engineers that ensures experienced-based performance as they advance through Company operations. The Company’s Incident-and Injury-Free® (IIF®) safety management program is integrated into all aspects of the Company’s culture. The Company’s commitment to the IIF® culture promotes a work environment where employee safety is paramount.

About Noble Capital Markets
Noble Capital Markets, Inc. was incorporated in 1984 as a full-service SEC / FINRA registered broker-dealer, dedicated exclusively to serving underfollowed small / microcap companies through investment banking, wealth management, trading & execution, and equity research activities. Over the past 37 years, Noble has raised billions of dollars for these companies and published more than 45,000 equity research reports. www.noblecapitalmarkets.com email: contact@noblecapitalmarkets.com

About Channelchek
Channelchek (.com) is a comprehensive investor-centric portal – featuring more than 6,000 emerging growth companies – that provides advanced market data, independent research, balanced news, video webcasts, exclusive c-suite interviews, and access to virtual road shows. The site is available to the public at every level without cost or obligation. Research on Channelchek is provided by Noble Capital Markets, Inc., an SEC / FINRA registered broker-dealer since 1984. www.channelchek.com email: contact@channelchek.com

Cautionary Note Regarding Forward-Looking Statements
Certain statements in this press release may constitute “forward-looking” statements as defined in Section 21E of the Securities Exchange Act of 1934 (the “Exchange Act”), the Private Securities Litigation Reform Act of 1995 (the “PSLRA”) or in releases made by the Securities and Exchange Commission (the “SEC”), all as may be amended from time to time. Such forward-looking statements involve known and unknown risks, uncertainties and other important factors that could cause the actual results, performance or achievements of Great Lakes and its subsidiaries, or industry results, to differ materially from any future results, performance or achievements expressed or implied by such forward-looking statements. Statements that are not historical fact are forward-looking statements. These cautionary statements are being made pursuant to the Exchange Act and the PSLRA with the intention of obtaining the benefits of the “safe harbor” provisions of such laws. Great Lakes cautions investors that any forward-looking statements made by Great Lakes are not guarantees or indicative of future events.

Although Great Lakes believes that its plans, intentions and expectations reflected in this press release are reasonable, actual events could differ materially. The forward-looking statements contained in this press release are made only as of the date hereof and Great Lakes does not have or undertake any obligation to update or revise any forward-looking statements whether as a result of new information, subsequent events or otherwise, unless otherwise required by law.

For further information contact:
Tina Baginskis
Director, Investor Relations
630-574-3024

Release – Bit Digital, Inc. Announces Monthly Production Update for August 2024

Posted on by dburczyk@noblecapitalmarkets.com

Research News and Market Data on BTBT

NEW YORK, September 5, 2024 /PRNewswire/ — Bit Digital, Inc. (Nasdaq: BTBT) (“Bit Digital” or the “Company”), a sustainable platform for digital assets and artificial intelligence (“AI”) infrastructure headquartered in New York, announced its unaudited digital asset production, HPC services revenue, and corporate updates for the month of August 2024.

Corporate Highlights for August 2024

  • The Company had 256 servers actively generating revenue from its initial Bit Digital AI contract, as of August 31, 2024. The Company earned approximately $4.3 million of unaudited revenue from this contract during the month of August 2024. A service credit of $579k related to the downtime experienced during an equipment upgrade was issued to the client in August for the period of February to June 2024.
  • In August 2024, the Company produced 53.4 BTC, an 11.7% decrease compared to the prior month.
  • The Company’s active hash rate was approximately 2.43 EH/s as of August 31, 2024
  • Treasury holdings of BTC and ETH were 682.4 and 27,331.0 with a fair market value of approximately $40.2 million and $68.7 million, respectively, on August 31, 2024.
  • The BTC equivalent1 of our digital asset holdings as of August 31, 2024, was approximately 1,858.3 or approximately $109.6 million.
  • The Company had cash and cash equivalents of $106.9 million and total liquidity (defined as cash and cash equivalents, USDC, and the fair market value of digital assets) of approximately $216.5 million, as of August 31, 2024.

Proof-of-Stake Highlights

  • The Company had approximately 21,568 ETH actively staked in native staking protocols as of August 31, 2024.
  • Bit Digital earned a blended APY of approximately 3.1% on its staked ETH position for the month of August 2024.
  • The Company earned aggregate staking rewards of approximately 56.6 ETH during August 2024.

Upcoming Events

  • 2024 Annual Gateway Conference, San Francisco, CA on September 4-5
  • H.C. Wainwright 26th Annual Global Investment Conference, New York, NY on September 11-12

About Bit Digital

Bit Digital, Inc. is a sustainable platform for digital assets and artificial intelligence (“AI”) infrastructure headquartered in New York City. Our bitcoin mining operations are located in the US, Canada, and Iceland. The Company has established a business line, Bit Digital AI, that offers specialized cloud-infrastructure services for artificial intelligence applications. For additional information, please contact ir@bit-digital.com or visit our website at www.bit-digital.com.

Investor Notice 

Investing in our securities involves a high degree of risk. Before making an investment decision, you should carefully consider the risks, uncertainties and forward-looking statements described under “Risk Factors” in Item 3.D of our most recent Annual Report on Form 20-F for the fiscal year ended December 31, 2023. If any material risk was to occur, our business, financial condition or results of operations would likely suffer. In that event, the value of our securities could decline and you could lose part or all of your investment. The risks and uncertainties we describe are not the only ones facing us. Additional risks not presently known to us or that we currently deem immaterial may also impair our business operations. In addition, our past financial performance may not be a reliable indicator of future performance, and historical trends should not be used to anticipate results in the future. Future changes in the network-wide mining difficulty rate or bitcoin hash rate may also materially affect the future performance of Bit Digital’s production of bitcoin. Actual operating results will vary depending on many factors including network difficulty rate, total hash rate of the network, the operations of our facilities, the status of our miners, and other factors.

Safe Harbor Statement 

This press release may contain certain “forward-looking statements” relating to the business of Bit Digital, Inc., and its subsidiary companies. All statements, other than statements of historical fact included herein are “forward-looking statements.” These forward-looking statements are often identified by the use of forward-looking terminology such as “believes,” “expects,” or similar expressions, involving known and unknown risks and uncertainties. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company’s actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company’s periodic reports that are filed with the Securities and Exchange Commission and available on its website at http://www.sec.gov. All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.

AI Surge Shakes Up Venture Capital as Tech Titans Dominate Investments

Posted on by slightbourne@noblecapitalmarkets.com
Key Points:
– Tech giants like Microsoft and Amazon are outpacing traditional VC firms in AI funding.
– Venture-backed IPOs remain scarce despite AI’s rise.
– VC investments shift to less capital-intensive application-level startups.

The venture capital (VC) landscape is undergoing a seismic shift as tech behemoths like Microsoft, Amazon, and Nvidia pour billions into artificial intelligence (AI) startups. This trend has significantly altered the dynamics in an industry already reeling from an extended dry spell in initial public offerings (IPOs), which is approaching three years.

Unlike previous tech booms, where venture capitalists (VCs) held a central role, the current AI wave is being driven by the deep pockets of these tech giants. This shift has left traditional VC firms scrambling to adapt, as startups like OpenAI, Anthropic, and CoreWeave attract massive investments from these corporate titans, bypassing the need for public funding.

While many AI startups have earned sky-high valuations, they are not yet ready to go public or show the profitability metrics that public investors typically seek. As a result, VCs face a bottleneck in generating returns for their limited partners. Venture-backed IPOs are projected to hit their lowest level since 2016, with U.S. VC exit value in 2024 expected to drop 86% from its peak in 2021, according to PitchBook data.

One of the primary reasons for this market distortion is that tech giants are not only offering capital but also tangible benefits such as cloud credits and strategic business partnerships—resources that traditional VCs cannot easily match. According to S&P Global Market Intelligence, many AI startups are still seeing overwhelming investor interest despite the broader downturn in venture markets.

With the landscape dominated by mega-companies, venture firms have been forced to adjust their investment strategies. Chip Hazard, co-founder of Flybridge Capital Partners, noted that VC dollars are now shifting “up the stack,” meaning that traditional VCs are investing in companies that are building applications on top of existing AI infrastructure. These companies require far less capital than the infrastructure startups that are driving the AI boom, such as those building chips or training AI models.

The generative AI frenzy shows no signs of slowing. In 2024 alone, investors funneled $26.8 billion into 498 AI deals, continuing a trend that saw AI fundraising increase more than 200% between 2022 and 2023, per PitchBook. AI now accounts for 27% of total fundraising in the private market, up from 12% in 2023. This increase highlights how central AI has become in the broader venture ecosystem.

Despite the optimism surrounding AI, the broader venture capital industry continues to face significant headwinds. The IPO market remains stagnant, leaving venture-backed companies with limited options for exits. Even for companies that do go public, valuations are often far lower than in the pre-2022 era, when tech stocks soared and interest rates remained low.

Some traditional VCs, like Menlo Ventures, are attempting to carve out their piece of the AI pie by forming special purpose vehicles (SPVs) to participate in high-profile funding rounds. Menlo, for example, has invested in Anthropic’s $750 million round, valuing the startup at over $18 billion. Cohere, another AI company focused on enterprise solutions, also raised $500 million through an SPV organized by Inovia Capital.

In this new landscape, VCs are increasingly forced to take a backseat as tech giants drive the AI revolution. The real question now is how venture firms will adapt to this new reality where exits are fewer, returns are slower, and competition for promising startups is fiercer than ever.

Bowlero (BOWL) – Sets Its Mark On M&A Targets

Posted on by cpereira@noblefcm.com


Friday, September 06, 2024

Bowlero Corp. is the worldwide leader in bowling entertainment, media, and events. With more than 300 bowling centers across North America, Bowlero Corp. serves more than 26 million guests each year through a family of brands that includes Bowlero, Bowlmor Lanes, and AMF. In 2019, Bowlero Corp. acquired the Professional Bowlers Association, the major league of bowling, which boasts thousands of members and millions of fans across the globe. For more information on Bowlero Corp., please visit BowleroCorp.com.

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.

Reports solid Q4 results. Q4 revenues exceeded our expectations, $283.9 million (up a strong 18.6% y-o-y) versus our $270.0 million estimate, driven by strong 6.9% growth in same store revenues. Adj. EBITDA was $83.4 million, roughly in line with our $86.5 million estimate. Figure #1 Q4 Results illustrates our estimates versus reported results.

Resilient against economic headwinds. Management indicated that its business caters to a high end consumer that appears to be resilient to the economy. It plans to roll out high end food items and focus on its event business as a key revenue growth driver in fiscal 2025. Event business is currently $275 million and is expected to exceed $300 million in fiscal 2025. 


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. 

Bit Digital (BTBT) – August Production

Posted on by cpereira@noblefcm.com


Friday, September 06, 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.

AI Services. Bit Digital had 256 servers actively generating revenue from its initial Bit Digital AI contract, as of August 31, 2024. The Company earned approximately $4.3 million of unaudited revenue from this contract during the month of August 2024. A service credit of $579,000 related to the downtime experienced during an equipment upgrade was issued to the client in August for the period of February to June 2024.

Bitcoin Mining. The Company produced 53.4 bitcoin during the month, down 11.7% when compared to the prior month. The active hash rate was 2.43 EH/s as of the end of August, compared to 2.46 EH/s at the end of July. As we have noted previously, management continues to monitor the mining environment post halving, with additional investment into this business dependent upon the returns achievable.


Get the Full Report

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

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

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

Release – Zomedica Secures CE Mark for TRUVIEWTM Digital Microscope & Telepathology System, Expanding Global Market Opportunities

Posted on by aweinsoff@channelchek.com

Research News and Market Data on ZOM

CE Mark approval opens European market for TRUVIEW system

ANN ARBOR, MI / ACCESSWIRE / September 5, 2024 / Zomedica Corp. (NYSE American:ZOM) (“Zomedica” or the “Company”), a veterinary health company offering point-of-care diagnostics and therapeutic products for equine and companion animals, today announced it has secured the CE Mark for its revolutionary TRUVIEW™ digital microscopy and telepathology platform. The CE Mark certification affirms the system’s compliance with the stringent health, safety, and environmental standards required by the European Union, enabling Zomedica to commercialize the TRUVIEW microscope across the European Economic Area (EEA).

The TRUVIEW platform integrates advanced diagnostic features, including LiquiView™ liquid lens technology for superior imaging and the proprietary TRUprep™ automated slide preparation system. This all-in-one solution empowers veterinary professionals with advanced capabilities that enhance both diagnostic accuracy and efficiency.

“The TRUVIEW microscope represents the latest leap in veterinary diagnostic technology,” commented Bill Campbell, VP of Imaging at Zomedica. “By automating slide preparation and offering telepathology services, we are revolutionizing how veterinarians approach diagnostics, delivering unparalleled precision and operational efficiency.”

Microscopic examination is a cornerstone of veterinary care, and the TRUVIEW system optimizes workflow by providing consistently high-quality slide preparation while saving valuable technician time. Additionally, the platform’s telepathology feature enables real-time remote consultation, fostering collaboration among veterinary professionals and enhancing diagnostic confidence.

“Securing the CE Mark is a significant milestone for Zomedica,” stated Larry Heaton, CEO of Zomedica. “Our TRUVIEW microscope’s cutting-edge optics, automated slide preparation, and telepathology services set a new standard for veterinary diagnostics in Europe and throughout the world. We are excited to bring this transformative technology to veterinary practices across the EEA.”

To learn more about the TRUVIEW digital microscope and its transformative capabilities, visit Zomedica’s website at www.zomedica.com/truview.

About Zomedica

Zomedica is a leading equine and companion animal healthcare company dedicated to improving animal health by providing veterinarians innovative therapeutic and diagnostic solutions. Our gold standard PulseVet® shock wave system, which accelerates healing in musculoskeletal conditions, has transformed veterinary therapeutics. Our suite of products also includes the Assisi® Loop line of therapeutic devices and the TRUFORMA® diagnostic platform, the TRUVIEW™ digital cytology system, and the VetGuardian® no-touch monitoring system, all designed to empower veterinarians to provide top-tier care. In the aggregate, their total addressable market in the U.S. exceeds $2 billion. Headquartered in Michigan, Zomedica employs approximately 150 people and manufactures and distributes its products from its world-class facilities in Georgia and Minnesota. An NYSE American company, Zomedica grew revenue 33% in 2023 to $25 million and maintains a strong balance sheet with approximately $83 million in liquidity as of June 30, 2024. Zomedica is advancing its product offerings, leveraging strategic acquisitions, and expanding internationally as we work to enhance the quality of care for pets, increase pet parent satisfaction, and improve the workflow, cash flow and profitability of veterinary practices. For more information visit www.zomedica.com.

Follow Zomedica

Cautionary Note Regarding Forward-Looking Statements

Except for statements of historical fact, this news release contains certain “forward-looking information” or “forward-looking statements” (collectively, “forward-looking information”) within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate” and other similar words, or statements that certain events or conditions “may” or “will” occur and include statements relating to our expectations regarding future results. Although we believe that the expectations reflected in the forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct. We cannot guarantee future results, performance, or achievements. Consequently, there is no representation that the actual results achieved will be the same, in whole or in part, as those set out in the forward-looking information.

Forward-looking information is based on the opinions and estimates of management at the date the statements are made, including assumptions with respect to economic growth, demand for the Company’s products, the Company’s ability to produce and sell its products, sufficiency of our budgeted capital and operating expenditures, the satisfaction by our strategic partners of their obligations under our commercial agreements, our ability to realize upon our business plans and cost control efforts and the impact of COVID-19 on our business, results and financial condition.

Our forward-looking information is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking information. Some of the risks and other factors that could cause the results to differ materially from those expressed in the forward-looking information include, but are not limited to: the outcome of clinical studies, the application of generally accepted accounting principles, which are highly complex and involve many subjective assumptions, estimates, and judgments, uncertainty as to whether our strategies and business plans will yield the expected benefits; uncertainty as to the timing and results of development work and verification and validation studies; uncertainty as to the timing and results of commercialization efforts, as well as the cost of commercialization efforts, including the cost to develop an internal sales force and manage our growth; uncertainty as to our ability to successfully integrate acquisitions; uncertainty as to our ability to supply products in response to customer demand; uncertainty as to the likelihood and timing of any required regulatory approvals, and the availability and cost of capital; the ability to identify and develop and achieve commercial success for new products and technologies; veterinary acceptance of our products; competition from related products; the level of expenditures necessary to maintain and improve the quality of products and services; changes in technology and changes in laws and regulations; our ability to secure and maintain strategic relationships; performance by our strategic partners of their obligations under our commercial agreements, including product manufacturing obligations; risks pertaining to permits and licensing, intellectual property infringement risks, risks relating to any required clinical trials and regulatory approvals, risks relating to the safety and efficacy of our products, the use of our products, intellectual property protection, risks related to the COVID-19 pandemic and its impact upon our business operations generally, including our ability to develop and commercialize our products, and the other risk factors disclosed in our filings with the SEC and under our profile on SEDAR+ at www.sedarplus.com. Readers are cautioned that this list of risk factors should not be construed as exhaustive.

The forward-looking information contained in this news release is expressly qualified by this cautionary statement. We undertake no duty to update any of the forward-looking information to conform such information to actual results or to changes in our expectations except as otherwise required by applicable securities legislation. Readers are cautioned not to place undue reliance on forward-looking information.

Investor Relations Contact:

Zomedica Investor Relations
investors@zomedica.com
1-734-369-2555

SOURCE: Zomedica Corp.

A Bigger Rate Cut in September Could Spell Trouble for Market

Posted on by slightbourne@noblecapitalmarkets.com
Key Points:
– Investors anticipate a 50 basis point rate cut in September due to weakening job market data.
– A larger cut may signal recession fears, not inflation control, spurring market sell-offs.
– The current economic “soft landing” could be a temporary illusion as the labor market weakens.

The market is abuzz with speculation that the Federal Reserve might deliver a larger-than-expected interest rate cut in September, driven by recent signs of economic softness. While many investors are hoping for a 50 basis point cut, especially after the latest JOLTS report showing the lowest job openings since 2021, they may want to be cautious. A deeper rate cut isn’t necessarily the good news it might seem on the surface.

The JOLTS data, coupled with last month’s jobs report, has raised concerns that the labor market could be weakening more rapidly than anticipated. Investors are now looking to Friday’s employment numbers with increased apprehension, and Fed fund futures are reflecting expectations of a significant rate cut at the Federal Reserve’s next meeting. But before the market gets too excited about the prospect of lower rates, it’s important to consider the message a large cut would send.

A 50 basis point cut would likely indicate that the Federal Reserve is more worried about a looming recession than ongoing inflation. According to David Sekera, Morningstar’s chief US market strategist, such a cut could trigger an even deeper stock market sell-off. The move would suggest that the Fed sees significant risks to the economy, much like a pilot deploying oxygen masks in mid-flight—hardly a signal of smooth skies ahead.

Other experts are also expressing caution. Citi’s chief US economist Andrew Hollenhorst points out that the market seems to be in denial about the growing signs of labor market weakness, just as it was slow to accept the seriousness of inflation during its early stages. Hollenhorst emphasizes that the unemployment rate has been gradually rising for months now, not just a one-off event. This slow deterioration suggests the labor market is indeed weakening, and a larger rate cut could be the Fed’s acknowledgment of that fact.

While moderating inflation does provide the Fed with some breathing room to focus on supporting the economy, the idea that the economy is still in a “Goldilocks” phase—where inflation is cooling, and the job market remains resilient—might be wishful thinking. Investors should be careful what they wish for when it comes to monetary policy, as the short-term benefits of lower rates could be overshadowed by the reality of a deeper economic slowdown.

Release – Conduent to Modernize Government Benefits Disbursement System for American Samoa Recipients

Posted on by aweinsoff@channelchek.com

Research News and Market Data on CNDT

September 05, 2024

Government

With Conduent, American Samoa will convert its paper voucher system to EBT cards and offer online and mobile access capabilities

FLORHAM PARK, N.J. — Conduent Incorporated (Nasdaq: CNDT), a global technology-led business solutions and services company, has been selected by the American Samoa Department of Human and Social Services (DHSS) to modernize and convert the U.S. territory’s legacy American Samoa Nutrition Assistance Program (ASNAP) system.

As of 2024, nearly 5,000 needy, elderly, blind or disabled individuals in American Samoa receive ASNAP benefits from the government. These benefits provide essential food assistance to supplement their nutritional needs. Supported by Conduent, ASNAP recipients will be able to receive their benefits through safer and more secure Electronic Benefits Transfer (EBT) cards.

Rather than waiting for paper vouchers to use their benefits, ASNAP recipients will now be able to buy groceries and other items with electronic EBT cards. The conversion to cards will eliminate the risk of losing funds if paper vouchers are lost. Recipients will be able to track and manage their benefits through an online portal, and a new mobile application will allow users to access their benefits information and customer service support directly from their smartphones. The department will also be able to utilize the portal to access information about recipient management and card issuance and comply with federal reporting requirements.

“We are very excited to have selected an experienced company who can provide comprehensive and reliable EBT solutions for the ASNAP, and who can serve as a true partner over the life of the contract,” said DHSS Director Muavaefa’atasi John E. Suisala. “With over 25 years of government payment card experience and secure and reliable technology, we are confident that Conduent will meet all cardholder and retailer needs, along with our expectations for improved services for our clients through the use of EBT cards and mobile apps to improve their shopping experience. This project will also eliminate the need for clients to physically pick up benefits each month and is very timely, as we celebrate 30 years of ASNAP in American Samoa.”

“We recognize the importance of being able to provide secure, reliable disbursement solutions that deliver important benefits to individuals who rely on them daily, and we are proud to now deliver those same assurances to the government and people of American Samoa,” said Wade Fairey, General Manager, Payments and Child Support Solutions at Conduent. “By leveraging Conduent’s proven solutions to streamline benefits delivery and management, we are improving efficiency, making it easier and more convenient for people to access their benefits, and enhancing the overall well-being and security of the agencies we serve.”

Conduent’s Government Solutions provide U.S. agencies with solutions for healthcare claims administration, government benefit payments, eligibility and enrollment, and child support. Conduent is a leader in government payment disbursements, delivering electronic payments for services in 37 states and supporting critical, federally sponsored programs like the Supplemental Nutrition Assistance Program (SNAP) and Temporary Assistance for Needy Families (TANF).

About Conduent
Conduent delivers digital business solutions and services spanning the commercial, government and transportation spectrum – creating valuable outcomes for its clients and the millions of people who count on them. The company leverages cloud computing, artificial intelligence, machine learning, automation and advanced analytics to deliver mission-critical solutions. Through a dedicated global team of approximately 55,000 associates, process expertise and advanced technologies, Conduent’s solutions and services digitally transform its clients’ operations to enhance customer experiences, improve performance, increase efficiencies and reduce costs. Conduent adds momentum to its clients’ missions in many ways including disbursing approximately $100 billion in government payments annually, enabling 2.3 billion customer service interactions annually, empowering millions of employees through HR services every year and processing nearly 13 million tolling transactions every day. Learn more at www.conduent.com.

Note: To receive RSS news feeds, visit www.news.conduent.com. For open commentary, industry perspectives and views, visit http://twitter.com/Conduent, http://www.linkedin.com/company/conduent or http://www.facebook.com/Conduent.

Trademarks
Conduent is a trademark of Conduent Incorporated in the United States and/or other countries. Other names may be trademarks of their respective owners.

Media Contacts

Neil Franz

Conduent

neil.franz@conduent.com

+1-240-687-0127

Giles Goodburn

Conduent

ir@conduent.com

+1-203-216-3546

Release – Ocugen CSO to Participate in 5th Annual Gene Therapy for Ophthalmic Disorders Summit

Posted on by aweinsoff@channelchek.com

Research News and Market Data on OCGN

September 5, 2024

PDF Version

MALVERN, Pa., Sept. 05, 2024 (GLOBE NEWSWIRE) — Ocugen, Inc. (Ocugen or the Company) (NASDAQ: OCGN), a biotechnology company focused on discovering, developing, and commercializing novel gene and cell therapies, and vaccines, today announced that Arun Upadhyay, PhD, Ocugen’s Chief Scientific Officer, Head of Research & Development, will be among the featured speakers at the 5th Annual Gene Therapy for Ophthalmic Disorders conference, which is being held September 10-12, 2024 in Boston, Mass.

“There is tremendous potential for gene therapy to treat both rare retinal diseases and ophthalmic diseases affecting millions,” said Dr. Upadhyay. “I look forward to sharing the development and clinical progress of Ocugen’s modifier gene therapy platform with my peers and learning about the latest advancements in the field from industry experts.”

Details regarding Dr. Upadhyay’s participation are as follows:

Workshop Moderator
Topic: Navigating Regulatory Pathways for Ophthalmic Gene Therapies
Date: Tuesday, September 10, 2024
Time: 1-4 p.m. ET

Presentation
Topic: Advancements in Gene Therapy for Opthalmic Disorders: Ocugen’s Clinical Program Updates
Date: Thursday, September 12, 2024
Time: 11:30 a.m.-noon

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 patients’ 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 X and LinkedIn.

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 Communications 
Tiffany.Hamilton@ocugen.com

GDEV Inc. (GDEV) – Picking Up Steam

Posted on by cpereira@noblefcm.com


Thursday, September 05, 2024

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.

Overachieves expectations. Second quarter revenues of $105.8 million was in line with our $105.0 million estimate. Due to lower than expected Selling & Marketing Expenses and efficiency initiatives, adj. EBITDA was $16.2 million, far better than our $0.9 million estimate, illustrated in Figure #1 Q2 Results. Selling & Marketing expenses were roughly $11 million lower than expected, accounting for the largest portion of the sizable “beat”. 

PC picking up Steam. Notably, management highlighted the launch of Pixel Gun 3D PC Edition to the Steam platform, the largest digital distribution platform for PC gaming. The launch of Pixel Gun 3D on Steam and a solid quarter for Hero Wars: Dominion Era led to PC revenue accounting for 42% of total revenue, up from 38% in the prior year period. The addition of Steam is viewed favorably given that PC players tend to spend more money and time playing than mobile users.


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. 

Aurania Resources (AUIAF) – Progress on Key Priorities

Posted on by cpereira@noblefcm.com


Thursday, September 05, 2024

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

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

Key priorities for 2024 and 2025. Aurania appears to be making significant progress on key 2024 and 2025 priorities that were highlighted by Dr. Keith Barron, CEO and Director, during the company’s annual general meeting in June. These include: 1) exploration at the Lost Cities project in Ecuador, 2) advancing the company’s application for an exploration license in the Brittany Peninsula of northwestern France, 3) advancing joint venture and strategic partnership discussions, and 4) expanding community access agreements and community projects in Ecuador.

Exploration program. While Aurania’s exploration program is flexible, the company intends to complete an induced polarization (IP) geophysical survey this year at the Kuri-Yawi epithermal gold target followed by a drill program that will likely commence in the first quarter of 2025. An Anaconda mapping program has been completed in the southern part of Aurania’s Awacha porphyry copper target area and exploration teams are wrapping up a mapping program in the northern portion of the property with the goal of preparing it for drilling in the future. Fieldwork is also expected to continue at Crunchy Hill during the third quarter.


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. 

Job Growth in August Sees Significant Slowdown, Adding Just 99,000 Private Sector Jobs

Posted on by slightbourne@noblecapitalmarkets.com
Key Points:
– August private payrolls increased by just 99,000, the lowest since January 2021.
– Job growth slowed across most sectors, with a few industries reporting declines.
– Markets anticipate the weaker job market could influence the Federal Reserve’s next rate cut decision

Private sector payrolls in the U.S. grew by a mere 99,000 in August, the smallest monthly gain since January 2021, according to data released by payroll processor ADP. This marks a sharp slowdown in hiring and came in well below economists’ expectations of 140,000, signaling a more pronounced cooling of the labor market.

This slowdown continues a trend of reduced hiring momentum seen over recent months. ADP’s chief economist, Nela Richardson, emphasized that the job market’s rapid post-pandemic recovery has now given way to slower, more typical hiring rates. Following the surge in job creation after the Covid-19 crisis, the labor market is now reverting to a less aggressive pace.

While most sectors showed diminished hiring, outright job losses were limited to a few key industries. Professional and business services saw a reduction of 16,000 positions, manufacturing lost 8,000 jobs, and the information services sector shed 4,000. In contrast, sectors such as education and health services saw gains of 29,000 jobs, while construction added 27,000 positions. Financial activities, too, showed growth, increasing by 18,000, while trade, transportation, and utilities contributed 14,000 new roles.

Small businesses—those with fewer than 50 employees—saw a net loss of 9,000 jobs, while mid-sized companies fared better, adding 68,000 positions. This uneven distribution highlights how the labor market is bifurcated, with mid-sized firms leading job growth while smaller businesses struggle to maintain workforce numbers.

Despite the slower job growth, wage increases persisted, albeit at a moderated pace. ADP reported a 4.8% year-over-year increase in wages for those remaining in their positions, maintaining July’s growth rate. However, the ongoing rise in wages, though slower, continues to add pressure on businesses already dealing with hiring challenges and a cooling economy.

The labor market’s performance in August is expected to heavily influence the Federal Reserve’s upcoming decision on interest rates. With markets already predicting a rate cut at the Fed’s September meeting, the weaker hiring data adds further weight to expectations that the central bank will ease its monetary stance. The broader question remains whether the Fed will move swiftly to reduce rates or take a more measured approach as it balances inflation control with supporting the labor market.

As the ADP report arrives just ahead of the more comprehensive nonfarm payrolls data from the Bureau of Labor Statistics, all eyes are on the upcoming figures to see whether they will confirm the same slowdown in hiring. The forecast calls for payrolls to rise by 161,000, but recent data suggests there may be more downside risk to this estimate.

In light of the weaker job growth and mixed signals from the economy, investors are closely watching the Fed’s response. Current market pricing indicates at least a quarter-point cut at the September meeting, with further reductions expected by the year’s end. However, the pace and scale of those cuts will largely depend on how the labor market continues to evolve in the months ahead.

Bond Market’s Yield Curve Normalizes, Easing Recession Concerns but Raising Caution

Posted on by slightbourne@noblecapitalmarkets.com
Key Points:
– The bond market’s yield curve briefly normalizes after two years of inversion.
– Economic data and Fed comments contribute to the shift, though recession risks remain.
– Lower job openings and potential rate cuts add complexity to economic outlook.

The bond market witnessed a significant shift on Wednesday as the yield curve, a closely-watched economic indicator, briefly returned to a normal state. The relationship between the 10-year and 2-year Treasury yields, which had been inverted since June 2022, saw the 10-year yield edge slightly above the 2-year. This inversion had been a classic signal of potential recession, making this reversal noteworthy for economists and investors alike.

The normalization followed key economic developments, including a surprising drop in job openings and dovish remarks from Atlanta Federal Reserve President Raphael Bostic. The Labor Department reported that job openings fell below 7.7 million in the latest month, indicating a shrinking gap between labor supply and demand. This decline is significant given the post-pandemic period when job openings had far outpaced available workers, contributing to inflationary pressures.

Bostic’s comments, suggesting a readiness to lower interest rates even as inflation remains above the Federal Reserve’s 2% target, further influenced market dynamics. The potential for rate cuts is generally seen as a positive for economic growth, particularly after the Fed has kept rates at a 23-year high since July 2023. However, the shift in the yield curve does not necessarily signal an all-clear for the economy. Historically, the curve often normalizes just before or during a recession, as rate cuts reflect the Fed’s response to an economic slowdown.

Despite the market’s focus on the 2-year and 10-year yield relationship, the Federal Reserve places greater emphasis on the spread between the 3-month and 10-year yields. This segment of the curve remains steeply inverted, with a difference exceeding 1.3 percentage points. The ongoing inversion here suggests that while the bond market may be sending mixed signals, the broader economic outlook remains uncertain.

The recent price action underscores the delicate balance the Fed faces in managing inflation while avoiding triggering a recession. As investors digest these developments, the brief normalization of the yield curve offers a glimmer of hope but also a reminder of the complex and potentially turbulent road ahead.