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.
Location, location, location. Eskay Mining is focused on the exploration and development of precious metal volcanogenic massive sulfide (VMS) targets along the Eskay rift in a region of northwest British Columbia known as the Golden Triangle. The company’s Eskay precious metal rich VMS project encompasses 52,600 hectares, or 26 square kilometers, of highly prospective property within proximity to several world class gold deposits, including the adjacent past-producing Eskay Creek Mine, a high-grade gold-silver rich VMS deposit considered among the world’s most precious metal-rich volcanogenic massive sulfide deposits.
2023 drill program. The 2023 drill program will focus on newly identified geophysical targets at Maroon Cliffs and Hexagon Mercury, along with additional work at Tarn Lake, TV and Cumberland. In total, we expect the program will entail roughly 6,000 to 7,000 meters of drilling.
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This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).
*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision.
This month marks the 106th anniversary of the Espionage Act. Enacted on June 15, 1917, just a couple of months after the United States entered WWI. While the Act is not specifically related to stocks and other investments, discussions of the Espionage Act may, at times, overtake the news and even distract market players or potentially drive market mood. So it is best to have an accurate understanding of the components. The Espionage Act is a federal law that criminalizes spying and other activities that could be harmful to US national security. The variations and intricacies involve spying for foreign governments, leaking classified information, obstructing selective service, and using the US Postal Service to promote interests counter to those of the USA.
The Espionage Act Sections
The Act has five main sections:
Section 792: This section prohibits gathering or transmitting defense information with the intent or reason to believe that the information may be used to the injury of the United States or to the advantage of any foreign nation.
Section 793: This section prohibits gathering or transmitting classified information with the intent or reason to believe that the information may be used to the injury of the United States or to the advantage of any foreign nation.
Section 794: This section prohibits delivering defense information to a foreign government or to a person who is not entitled to receive it.
Section 795: This section prohibits photographing or sketching defense installations without permission.
Section 798: This section prohibits disclosing classified information to unauthorized persons.
The Espionage Act Uses
The Espionage Act has been used to prosecute a wide range of offenses, including leaking information, recruiting spies, and creating disobedience among military ranks.
Espionage: Espionage is the act of spying for a foreign government. Espionage can involve gathering or transmitting classified information, or it can involve recruiting or assisting spies.
Leaking Classified Information: Leaking classified information is the act of disclosing classified information to unauthorized persons. Leaking can be done intentionally or unintentionally.
Inciting insubordination in the military: Inciting insubordination in the military is the act or behavior of encouraging military personnel to disobey orders. This can be done by spreading rumors, making false statements, or even simply providing material support to those who are planning to disobey orders.
The Espionage Act is a powerful tool that can be used to protect national security. However, the law has also been criticized for its potential to infringe on First Amendment rights. The Espionage Act has been challenged in court on several occasions, the results have been mixed, but as it applies to first amendment rights during wartime, the courts typically sidewith the state.
Espionage is the practice of spying or using spies to obtain secret or confidential information from non-disclosed sources or divulging of the same without the permission of the holder of the information. – Oxford Dictionary
Additions and Amendments
Since 1917 the Act has seen additions and addendums. These include:
Sedition Act of 1918: The Sedition Act was passed as an amendment to the Espionage Act. It criminalized various forms of expression, including any spoken or written words that aimed to incite disloyalty or contempt towards the US government, the Constitution, or the flag. First Amendment challenges, during wartime have mostly failed. The Wilson administration made it against the act to use the US Post Office for any mailing that may violate te act – 74 newspapers had been denied mailing privileges
USA Patriot Act, 2001: Following the September 11 attacks, the USA PATRIOT Act expanded the scope of the Espionage Act by enhancing surveillance and investigative powers. It broadened the definition of “national defense” and allowed for more extensive monitoring of suspected espionage activities.
Take Away
The Espionage Act of 1917 prohibited obtaining information, recording pictures, or copying descriptions of any information relating to the national defense with intent or reason to believe that the information may be used for the injury of the United States or to the advantage of any foreign nation. Since 1917 there have been a couple of new amendments to the original law.
Shell has looked at its unimpressive returns on renewable energy and the booming profits in its oil and gas divisions and has decided to pivot from its previous course. In an effort to regain investor confidence, Shell’s (SHEL.L) CEO, Wael Sawan, is expected to make a formal announcement of the revised strategic direction of the oil company on June 14, according to an exclusive report in Reuters.
Shifting Gears
Shell’s CEO Sawan, who previously headed the company’s oil, gas, and renewables divisions, is expected in New York next week to formalize the details of his vision, it will include updates on capital allocation, shareholder payouts and “strategic choices we’re making,” according to Sawan.
What is known before the full announcement is that Shell expects it will keep company oil output steady or slightly higher into 2030. This would represent a change from an ongoing deemphasis on oil and gas production that Shell (and other large oil companies) had previously committed themselves to. Shell has been struggling with poor returns and is looking to regain investor confidence.
On June 14th, Sawan will reportedly make the announcement at an investor conference that they are scrapping a target to reduce oil output by 1% to 2% per year. The company is already near its goal for production cuts, which it attained through selling oil assets, including its U.S. shale business.
Returns from oil and gas typically range between 10% to %20, while those for solar and wind projects tend to be between 5% to 8%.
About Shell’s New CEO
Sawan rose to the level of CEO in January. As the new head, with solid experience in both oil and gas, and the renewable division, vowed to improve Shell’s stock performance as it lagged other energy companies. He now plans to improve company performance by keeping oil and gas central to the company’s business at least through the end of the decade – Sawan says that efforts to shift to low-carbon businesses cannot come at the expense of profits.
Shell’s former CEO, Ben van Beurden introduced the carbon reduction targets and the energy transition strategy. Sawan’s more cautious approach to the energy transition is a reversal of his predecessor’s direction.
Sustainability and Profits
In recent months the company intentionally stalled several sustainability and renewable projects, including those involving offshore wind, hydrogen and biofuels, it pointed to weak returns. Shell is also exiting its European power retail businesses, which had been thought, only a few years ago, as key to its energy transition.
Oil Company Profitability
As with many of its competitors, Shell reported record profits last year, driven mainly by strong oil and gas prices. However, the company produced 20% fewer barrels-per-day over 2019 production. Output is now expected to be flat to up slightly into 2030. New projects would have to meet internal profitability thresholds, and also depend on the success of exploration.
The shift away from further cuts in oil and gas production at Shell is similar to a move by rival BP (BP.L) made earlier in 2023. At BP, CEO Bernard Looney exited further plans to cut oil and gas output by 40% (by 2030).
A true global company, Shell Oil, headquartered in Hague, Netherlands, is a leading supplier of refined petroleum products and remains one of the world’s largest producers of oil and natural gas.
Investor Focused
According to Reuters, “a key concern for Sawan has been the significantly weaker performance of Shell’s shares since late 2021 compared with its U.S. rivals Exxon Mobil (XOM.N) and Chevron (CVX.N), which both plan to grow fossil fuel output.” Shell’s formal announcement next week is expected to include no change in Shell’s target of becoming a net zero emitter by mid-century as part of the Powering Progress energy transition strategy it announced in 2021, which he has described as “still the right strategy.”
On the heels of the announcement that NobleCon19, Noble Capital Markets 19th Annual Emerging Growth Equity Conference, will be held at FAU, and the achievement of the Owls basketball team making it to the Final Four, Florida Atlantic University College of Business’ Executive Education program earned a prestigious global endorsement in the 2023 Financial Times rankings for open enrollment professional education programs.
FAU ranked No. 2 in the United States and was the only university in Florida and one of only seven in the U.S. to be honored. The rankings are considered the gold standard for executive education coursework across the globe.
“It’s clear that we are making a difference in the professional advancement of all our students,” said Daniel Gropper, Ph.D., dean of FAU’s College of Business. “I am very proud of our students, faculty and staff for making this possible.”
FAU also ranked No. 1 in the U.S. and No. 4 in the world for female participation and No. 17 globally for overall satisfaction. Financial Times establishes the rankings using student feedback, course design, faculty, teaching methods and facilities.
FAU’s high-quality offerings include the most diversified selection of more than 60 national and international certification and professional development programs, said Vegar Wiik, executive director of FAU Executive Education. He added that a new state-of-the-art building, the Schmidt Family Complex for Academic and Athletic Excellence, is equipped with the latest technology that allows FAU to offer top-notch programs and corporate training. “We are thrilled that this December the facility will transform into NobleCon19, with 100+ public company executive teams and the large audience expected to learn more about them,” Wiik said. “And with the early announcement that the 43rd President of the United States, George W. Bush will headline, the excitement continues to build.”
In addition to hosting NobleCon19, FAU’s Edu-Vantage Partner Program, which works with businesses, corporations and organizations to provide a high-quality educational strategy for fulfilling their employee education packages, established partnerships with JM Family Enterprises and NextEra Energy, parent company of Florida Power & Light, to offer full-time associates full tuition for both undergraduate and graduate degrees and certifications.
NobleCon19 is scheduled for December 3-5, 2023, at FAU College of Business, Executive Education in Boca Raton, Florida. Although institutional investors, licensed brokers and accredited investors will be in attendance, NobleCon19 is open to all individuals and organizations interested in learning more about these companies.
To receive NobleCon agenda updates and registration opportunities, join Channelchek.com, Companies with market capitalization of $3 billion or less wishing to learn more about presenting at NobleCon19 can Inquire Here.
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 emerging growth companies through investment banking, wealth management, trading & execution, and equity research activities. Over the past 39 years, Noble has raised billions of dollars for companies and published more than 45,000 equity research reports. For more information, visit www.noblecapitalmarkets.com or email contact@noblecapitalmarkets.com.
About Florida Atlantic University Florida Atlantic University, established in 1961, officially opened its doors in 1964 as the fifth public university in Florida. Today, the University serves more than 30,000 undergraduate and graduate students across six campuses located along the southeast Florida coast. In recent years, the University has doubled its research expenditures and outpaced its peers in student achievement rates. Through the coexistence of access and excellence, FAU embodies an innovative model where traditional achievement gaps vanish. FAU is designated a Hispanic-serving institution, ranked as a top public university by U.S. News & World Report and a High Research Activity institution by the Carnegie Foundation for the Advancement of Teaching. For more information, visit www.fau.edu.
Q3 Consolidated Net Sales Up 1.9% sequentially to $136.3 Million
Cash Flows Provided by Operating Activities for the Quarter was $16.6 Million
MELVILLE, N.Y. – June 8, 2023–Comtech (NASDAQ: CMTL) today announced its third quarter fiscal 2023 financial results and updated its fourth quarter fiscal 2023 financial targets in a letter to shareholders which is now posted to the Investor Relations section of Comtech’s website.
Investors are invited to access the third quarter fiscal 2023 shareholder letter at its web site at comtech.com/investors/. A copy of the letter will also be filed with the Securities and Exchange Commission in a Form 8-K.
Comtech also intends to host a previously scheduled earnings conference call at 5:00PM ET today. Individuals can access the conference call by dialing (800) 267-6316 (domestic) or (203) 518-9783 (international) and using the conference I.D. of “Comtech.” A replay of the conference call will be available for two weeks by dialing (800) 839-2417 or (402) 220-7209. A live webcast of the call is also available at comtech.com/investors/.
About Comtech
Comtech Telecommunications Corp. is a leading global technology company providing terrestrial and wireless network solutions, next-generation 9-1-1 emergency services, satellite and space communications technologies, and cloud native capabilities to commercial and government customers around the world. Our unique culture of innovation and employee empowerment unleashes a relentless passion for customer success. With multiple facilities located in technology corridors throughout the United States and around the world, Comtech leverages our global presence, technology leadership, and decades of experience to create the world’s most innovative communications solutions.For more information, please visit www.comtech.com.
Certain information in this press release contains statements that are forward-looking in nature and involve certain significant risks and uncertainties. Actual results could differ materially from such forward-looking information. The Company’s Securities and Exchange Commission filings identify many such risks and uncertainties. Any forward- looking information in this press release is qualified in its entirety by the risks and uncertainties described in such Securities and Exchange Commission filings.
Baudax Bio is a pharmaceutical company focused on innovative products for acute care settings. ANJESO is the first and only 24-hour, intravenous (IV) COX-2 preferential non-steroidal anti-inflammatory (NSAID) for the management of moderate to severe pain. In addition to ANJESO, Baudax Bio has a pipeline of other innovative pharmaceutical assets including two novel neuromuscular blocking agents (NMBs) and a proprietary chemical reversal agent specific to these NMBs. For more information, please visit www.baudaxbio.com.
Gregory Aurand, Senior Vice President, Equity Research Analyst, Healthcare Services & Medical Devices, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Deeper dive into the results. The electomyography (EMG) detailed analysis confirmed the earlier top-line data released showing the highest dose of BX1000 was comparable to rocuronium (current standard). There was a clear dose response for BX1000 on maximum T1 suppression, with comparable results for the 1.5x ED95 dose of BX1000 and the 2x ED95 dose of rocuronium, strongly suggesting lower BX1000 dosing needed.
What is T1 suppression? Train of Four (TOF) testing is a method of peripheral nerve stimulation, using electrodes placed along the nerve pathway. An electrical impulse will cause a contraction (twitch). With increased NMB dosing, the twitch response fades, with the fourth (T4) response lost first, then T3, then T2, and finally the first (T1). The number of twitches observed indicates the NMB level achieved, determining the minimum amount needed to achieve the desired effect, while reducing the likelihood of over-paralysis and prolonged muscle weakness. A T1 level of suppression (or one twitch) represents approximately 90% block, a level suitable for short term procedures including intubation.
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.
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.
1QFY24 Revenue Light. Net revenue of $94.4 million was below our and consensus estimates of $99 million and $99.7 million, respectively. The revenue miss was driven by some traffic weakness at factory stores during March, although subsequent months have shown improvement. However, Pura Vida showed its first y-o-y sales improvement in five quarters, while Vera Bradley full line and e-comm produced solid results.
But Margins Improved. Gross margin expanded 150 basis points to 54.8% reflecting lower freight costs and inventory sell through while SG&A fell to 58.9% of revenue from 60.3% (both non-GAAP) last year reflecting strong cost control. GAAP EPS loss was $0.15, while adjusted EPS loss was $0.09, compared to EPS loss of $0.21 and $0.18, respectively, in 1QFY23, and our $0.19 EPS loss estimate.
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.
Shorting a stock by itself is not illegal and can even be thought of as helping the liquidity in the company’s shares as many more continuously change hands (volume). Brokers and institutional investors can also reap additional benefits. For all participating investors, it allows the opportunity for money to be made as long as the stock is moving up or down. However, among the legal shorts, there are illegal short positions being made. This has been the subject of controversy, Volkswagen in 2008, GameStop 2021, and AMC which has worked to end attempts of this kind of activity in its stock.
The Upside-Downside of Legal Short Selling
Selling a stock that you don’t own puts you, the seller at a greater risk than buying a stock. The reason is simple, stocks can theoretically go up by an infinite amount, however, they can only go down by their current value. If your shorts go up, you are losing value in your position. With this risk in mind, selling shares you don’t own, or a shorting strategy, certainly can work in your favor if your risk management short-circuits are in place and the stock’s value erodes.
A legal short position involves your broker borrowing shares on your behalf, perhaps from a large institutional holder, paying them a daily accrual rebate rate (interest) during the period that you hold the short position. The strategy is to buy them back at a lower price in the future than what you sold them at today.
Crossing the Line to Naked Short Selling
The word “naked” when it comes to most investments, suggests that you are without that which you are trading. If the same amount of shares has been borrowed on your behalf or by you as part of your short transaction, you are not naked in the position.
Naked shorting is the illegal practice of short selling shares that have not been affirmatively determined to exist. This can happen when there are so many market players thinking shares will decline in value that more shares are sold than obtainable to back up each trade.
Despite the SEC making this illegal after 2008 in response to some failing investment banks that had been sold beyond the number of shares in existence, naked shorting still goes on today.
One example still fresh in many self-directed investors’ minds is GameStop (GME) shares. In 2021, traders reportedly sold short around 140% of GME shares outstanding. This meant a substantial amount of shares of the company were sold that didn’t exist. What allowed these trades go through was something called ‘phantom’ sales, the tool of naked short selling.
Phantom Sales?
The term “phantom sales” sounds even more nefarious than “naked shorts.” What it means, is that the naked short sellers deposited digital IOUs into buyers’ accounts, promising that they will locate shares and make good delivery to the buyer as soon as possible. Unfortunately, it can become impossible when more shares are sold than exist. That creates a failure to deliver or simply “FTD” which is used in a hashtag that most that follow AMC Theatres (AMC) are familiar with.
When a stock gets oversold to the point of more shares sold than exist, it can be very bullish for the holders. This is because the short sellers desperately need to make good on their IOUs held by buyers.
If buying demand picks up in the stocks, the short positions are considered to be getting “squeezed” – a “short squeeze” is taking place.
In the case of GME, communication made better through social media channels and stock message boards allowed individual investors to loosely coordinate and heighten the squeeze on short sellers, including large institutional hedge funds that may have had naked short positions.
Naked Shorts Banned
Imagine the problems and stress that occurs when trades don’t settle on time due to naked short-selling delivery failures.
The SEC banned the practice of naked short-selling in the United States in 2008 after the financial crisis. The ban applies to naked shorting only and not to other short-selling activities. Prior to the ban, in 2007 the regulator amended a 2005 rule called Regulation SHO. The amendment limits possibilities for naked shorting by removing loopholes that existed for some broker-dealers in 2007. Regulation SHO requires lists to be published that track stocks with unusually high trends in failing to deliver (FTD) shares.
These lists are available to investors and often used to determine where activity may become frantic.
A variant that is not banned, or in violation of SEC is rules is an FTD where the shares were located, but there is a legitimate failure to deliver. That is the short seller contacted a holder (usually through a broker) and they both agreed to terms of the short-seller borrowing authentic shares of the company.
Take Away
Short selling is a normal function of trading and not frowned upon by the regulators. However you have to be in touch with shares that are available for you to borrow at an agreed-upon interest rate. Otherwise you may find you are naked selling because you don’t own the shares, and can not make delivery.
These rules apply to stocks that trade on a national exchange. For those stocks not listed on a major securities exchange, the SEC may require more disclosure from the transacting broker.
Image: Securities and Exchange Commission, March 2019 (Flickr)
Is this the Most Aggressive SEC Ever? Former Commission Head Thinks So
Gary Gensler was nominated head of the Securities and Exchange Commission just after SEC Chairman Jay Clayton stepped down on December 23, 2020. Cryptocurrency exchanges welcomed the incoming Chair’s appointment as “Gensler unites a pro-regulation history with a pro-crypto viewpoint, and could finally implement the regulatory clarity many in the industry have desired,” said an opinion piece published in Coinbase two months after. It has now been two years, and Chair Gensler’s predecessor, in his new role, shared his views and criticisms this week.
Former SEC chairman Jay Clayton, who is now working in the private sector, said he believes government regulators could do a much better job serving investors and the broader financial markets. The comments came during an address (June 7) in Orlando as he spoke at the BNY Mellon Pershing Insite 23 Conference. In his talk, Clayton highlighted big differences between the SEC under the Biden administration in comparison to the Trump presidency.
“I think it’s pretty clear we’re in a very highly business-skeptical and commercial-skeptical regulatory environment,” he said. “Any time you go to extremes, either way, you get more bad than good.”
Clayton, is now the nonexecutive chair at Apollo Global Management, a large alternative asset manager. He held the position of SEC chairman from May 2017 through December 2020. He believes the regulatory whiplash leaves anyone participating in the financial markets with more questions than answers.
“People don’t know what is really happening, how long it is going to last, and what they should do about it,” he said in reference to what has been described as the most aggressive SEC ever.
Clayton acknowledged that his business is with an alternative investment house, and that he might be accused of “talking his book” as a representative of a firm that manages private investments, but explained that he believes retail class investors are being locked out of suitable investments. He believes there should be a democratization of alternative investments, which has been an SEC focus. The accredited investor policies may not be best for the average person planning for the future.
“Capital formation these days largely comes from outside the public markets, yet the investing public is largely held outside those private markets,” he said. “All investors should have access to a portfolio that looks like a well-managed pension fund. With the help of a lot of the people in this room, I think we’re going to be able to do it,” he optimistically said addressing the large group from the wealth management industry.
He called on investment management firms to do their part to help regulators by making an effort to create products that are more broadly suited to the full universe of investors. Clayton took particular issue with the current accreditation rules. Saying the 40-year-old accredited investor rule doesn’t jive with today’s reality, an environment where individual investors are largely responsible for their own retirement income.
The former SEC head pointed out what he thought to be absurd, mentioning qualified retirement accounts (401k, 403b, IRAs) that give retail investors access to highly liquid mutual funds and perhaps ETFs, but not less liquid investments that would be better suited for long-term investing objectives.
“You’re paying for liquidity that you don’t need and can’t access,” Clayton said. “Pick a target-date fund, for example, why wouldn’t there be a sliver of privates or alternatives in there? If I’m a 401(k) investor, I should be able to get something that looks like a Calpers portfolio. Why wouldn’t you have a 10% slice of privates in your retirement portfolio when you’re 50 years old?” He said referring to the large institution managing the California teachers retirement portfolio.
Take Away
The former SEC head Jay Clayton believes that the sharp move from lowering regulatoryinvestment hurdles, to erecting the most aggressive in history under the current leadership of Gary Gensler, is bad for investors. He doesn’t argue strongly for either side, as much as he is against sudden changes and the impact it has on investors.
Clayton also supports alternative funds for the average retail investor, especially as it relates to long-term savings such as retirement accounts.
Insite23, the investor conference Jay Clayton was addressing in Orlando, FL, draws wealth management professionals from across the US. This coming December, the Channelchek-sponsored investor conference, NobleCon19 will be held in Boca Raton, Fl. This annual conference, in its 19th year, draws institutional and self-directed investors from beyond the US, who wish to attend presentations, breakout sessions, and panel discussions with CEOs, and even former government leaders. Those attending this year’s NobleCon will get to assess lesser-known investment opportunities along with the current investment climate. Attendees can look forward to two days filled with actionable opportunities explained by those with direct knowledge at the company’s helm.
For information on attending Nobecon19, sponsoring, or presenting, click here.
Senior Vice President Susan Lynch honored by the Northern Virginia Technology Council
MCLEAN, Va. – V2X, Inc. (NYSE: VVX) proudly announces Chief Financial Officer, Susan Lynch, was named this year’s Greater Washington Public Company CFO of the Year by the Northern Virginia Technology Council (NVTC). This award reflects Lynch’s exceptional financial leadership, strategic awareness, and dedication to driving the company’s success.
“This award is a testament to the hard work and dedication of our entire finance team at V2X,” Lynch said. “I am deeply honored to receive this recognition, it highlights our commitment to excellence. It also honors the tireless efforts of over 15,000 V2X employees that has enabled us to achieve our financial goals and drive substantial growth. Thank you to the NVTC and congratulations to all of the other winners.”
The Public Company CFO of the Year award recognizes financial executives who demonstrate outstanding leadership, financial stewardship, and exemplary performance. Lynch’s contributions, innovative thinking, and ability to navigate complex financial landscapes earned her this prestigious accolade.
This achievement comes during a pivotal time in V2X’s growth. Lynch and a cohort of outstanding leaders have shepherded the company through a transformative post-merger period. Her strategic financial guidance remains instrumental in leading the company to enduring success and delivering value to its customers, stakeholders, and investors.
ABOUT V2X
V2X builds smart solutions designed to integrate physical and digital infrastructure – from base to battlefield – by aligning people, actions, and outputs. Formed by the merger of Vectrus and Vertex, we bring a combined 120 years of successful mission support. Our lifecycle solutions improve security, streamline logistics, and enhance readiness.
The Company delivers a comprehensive suite of integrated solutions across the operations and logistics, aerospace, training, and technology markets to national security, defense, civilian and international clients. Our global team of approximately 15,000 employees brings innovation to every point in the mission lifecycle, from preparation to operations, to sustainment, as it tackles the most complex challenges with agility, grit, and dedication.
TROY, Mich., June 7, 2023 /PRNewswire/ — Kelly (Nasdaq: KELYA, KELYB), a leading specialty talent solutions provider, today announced it will participate in the Sidoti Virtual Investor Conference on Wednesday, June 14, 2023.
Olivier Thirot, executive vice president and chief financial officer, and James Polehna, chief investor relations officer and corporate secretary, will participate in virtual one-on-one meetings. A copy of Kelly’s investor presentation is also available at kellyservices.com.
About Kelly®
Kelly Services, Inc. (Nasdaq: KELYA, KELYB) helps companies recruit and manage skilled workers and helps job seekers find great work. Since inventing the staffing industry in 1946, we have become experts in the many industries and local and global markets we serve. With a network of suppliers and partners around the world, we connect more than 450,000 people with work every year. Our suite of outsourcing and consulting services ensures companies have the people they need, when and where they are needed most. Headquartered in Troy, Michigan, we empower businesses and individuals to access limitless opportunities in industries such as science, engineering, technology, education, manufacturing, retail, finance, and energy. Revenue in 2022 was $5.0 billion. Learn more at kellyservices.com.
MELVILLE, N.Y. – June 7, 2023– Comtech (NASDAQ: CMTL) today announced the appointment of former Under Secretary of Defense for Acquisition and Sustainment the Hon. Ellen M. Lord and former U.S. Army Chief Information Officer (CIO) Lieutenant General (LTG) (retired) Bruce T. Crawford to its Board of Directors. With the appointment of Ms. Lord and LTG (retired) Crawford, the company’s Board will consist of nine members, eight of whom will be independent.
With decorated careers across government and commercial sectors as well as differentiated expertise in capability development, organizational structures, acquisitions, budgets, and end-to-end technology deployments, Ms. Lord and LTG (retired) Crawford will bring extensive knowledge, unique insights, and new guidance that is well aligned with Comtech’s strategic priorities and global growth trajectories.
“As proven thought leaders with a deep understanding of ever-changing technology landscapes, Ellen and Bruce bring unique perspectives to the Board that will be incredibly valuable for Comtech’s transformation as a company as well as our continued innovation and growth trajectories,” said Ken Peterman, President and CEO, Comtech. “I know their extensive experience navigating complex challenges and capitalizing on emerging opportunities will help Comtech empower organizations and individuals across the globe with access to smart-enabled, insightful technologies.”
Ms. Lord served from August 2017 until January 2021 as Under Secretary of Defense for Acquisition and Sustainment, reporting to the Secretary of Defense with oversight of a $400 billion per year budget. Previously, she spent 33 years at Textron, a global multiple industry corporation, where she ultimately was appointed as President and CEO of Textron Systems. During her time at the Department of Defense, Ms. Lord’s team rewrote the Pentagon’s acquisition policy with a focus on speed and simplicity, while adding procedures for cybersecurity, intellectual property, and software development. Ms. Lord now serves on public (AAR and Parsons), private (LightRidge and Voyager Space), and non-profit boards, as well as advising companies in the aerospace and defense sector.
LTG (retired) Crawford brings over 37 years of leadership, executive management, national security, enterprise information technology (IT) and cybersecurity experience to the Comtech Board of Directors. Having recently served as a Senior Vice President at a Fortune 500 company and holding Board positions in both public and private companies, he also brings prior corporate board experience to Comtech. In 2020, LTG (retired) Crawford culminated 34 years of military service as the Army’s CIO and Senior IT professional with responsibility for digital modernization, data and cloud migrations and governance, and oversight of the Army’s $15 billion IT budget. LTG (retired) Crawford’s responsibilities also included IT support from the enterprise to the tactical edge in 143 countries at 288 locations worldwide. LTG (retired) Crawford is a Distinguished Military Graduate of South Carolina State University with Masters’ degrees from both The National Defense University and Central Michigan University.
About Comtech
Comtech Telecommunications Corp. is a leading global technology company providing terrestrial and wireless network solutions, next-generation 9-1-1 emergency services, satellite and space communications technologies, and cloud native capabilities to commercial and government customers around the world. Our unique culture of innovation and employee empowerment unleashes a relentless passion for customer success. With multiple facilities located in technology corridors throughout the United States and around the world, Comtech leverages our global presence, technology leadership, and decades of experience to create the world’s most innovative communications solutions.For more information, please visit www.comtech.com.
Forward-Looking Statements
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MCLEAN, Va., June 7, 2023 /PRNewswire/ — V2X, Inc. (NYSE: VVX) was awarded a position on the Training Systems Acquisition IV (TSA IV) program with the United States Air Force. The multiple award, indefinite-delivery/indefinite-quantity contract vehicle is valued up to $32.5 billion over ten-years, including all option periods. The contract aids in the development, installation, and long-term support of cutting-edge training systems designed for aircrew, maintenance personnel, and system-specific training. These systems are instrumental in enhancing global warfighter training efforts.
V2X wins seat on $32.5bn US Air training systems contract
“This partnership enables us to develop, install, and provide long-term support for cutting-edge technologies that shape the future of warfighter training,” said Chuck Prow, V2X President and CEO. “This win provides an opportunity for V2X to leverage its decades of Army training expertise to now deliver innovative training solutions to the Air Force. V2X is well-positioned to modernize system-specific training that enhances the capabilities and readiness of the Air Force and our armed forces.”
Benefiting from the collaboration of V2X and 36 other industry leaders, the Air Force will be able to significantly enhance its training programs and empower its personnel with the skills and knowledge to excel in their missions.
About V2X
V2X builds smart solutions designed to integrate physical and digital infrastructure – from base to battlefield – by aligning people, actions, and outputs. Formed by the merger of Vectrus and Vertex, we bring a combined 120 years of successful mission support. Our lifecycle solutions improve security, streamline logistics, and enhance readiness.
The Company delivers a comprehensive suite of integrated solutions across the operations and logistics, aerospace, training, and technology markets to national security, defense, civilian and international clients. Our global team of approximately 15,000 employees brings innovation to every point in the mission lifecycle, from preparation to operations, to sustainment, as it tackles the most complex challenges with agility, grit, and dedication.
Media Contact Angelica Spanos Deoudes Senior Media Strategist Communications@goV2X.com 571-338-5195
Investor Contact Mike Smith, CFA Vice President, Treasury, Corporate Development and Investor Relations IR@goV2X.com 571-337-3862
