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Release – Comtech Joins Microsoft Azure Operator Nexus Ready Program to Deliver Interoperable Cloud Services

Posted on February 27, 2023February 28, 2023 by aweinsoff@channelchek.com

Feb 27, 2023 3:03 AM

MELVILLE, N.Y. –
Feb. 27, 2023– Comtech (NASDAQ: CMTL) announced today that the company will join Microsoft’s Azure Operator Nexus Ready Program to offer customers interoperable cloud services.

Microsoft’s Azure Nexus Operator Ready Program certifies that Comtech’s Location Management Function (LMF), a standards-based location server for 5G, will be interoperable with Azure Operator Nexus. LMF runs on Comtech’s Dynamic Cloud Platform (DCP), which is designed to be infrastructure, cloud, and application agnostic-allowing communications providers and other organizations to easily orchestrate, integrate, and manage applications across private, hybrid, and public cloud networks.

“As one of Microsoft’s first Azure Operator Nexus Ready Program members, our customers and partners can now leverage Comtech’s enterprise technologies and software solutions on the Azure Operator Nexus platform,” said Ken Peterman, President and CEO, Comtech. “This collaboration demonstrates the flexibility, security, and adaptability of our DCP as well as the substantial benefits Comtech’s innovative software technology solutions can bring to cloud providers across the globe.”

Comtech’s DCP also unlocks the availability of new third-party applications across current and future computing environments, such as Microsoft Azure Operator Nexus.

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

Certain information in this press release contains statements that are forward-looking in nature and involve certain significant risks and uncertainties. Actual results and performance 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.

PCMTL

View source version on businesswire.com: https://www.businesswire.com/news/home/20230226005214/en/

Investor Relations

Robert Samuels

631-962-7102

robert.samuels@comtech.com

Media Contact

Jamie Clegg

480-532-2523

jamie.clegg@comtech.com

Will Elon Musk Inspire and Excite on Investor Day 2023?

Posted on February 27, 2023February 27, 2023 by phoffman@channelchek.com

Will Tesla Investors be Inspired or Disappointed on March 1 (Investor Day)?

Tesla’s Investor Day is March 1^st. The lead-up to these events is usually filled with speculation of how the founder, Elon Musk, may surprise EV fans and the investment community. Tesla’s (TSLA) innovations and unique marketing and distribution have made it the most valuable car company in the world. Part of that marketing is the mystique and confidence Musk brings whenever he has an audience. The company is also inspiring as it is less than 20 years in the making and is leading a revolution in how automobiles are built, driven, and fueled.

As plans are kept under wraps, most of the rumors as to what to expect fall in the category of speculation. Below are some of the most likely ideas from past announcements from Tesla and across the internet since the meeting date was announced.

Battery Production

Sourcing raw materials for batteries to make certain new EVs have all the needed components is becoming a concern among car manufacturers.

News has leaked of a proposed $3.6 billion Giga factory to produce up to 100 Gwh of batteries. The factory is expected to be in Nevada and eventually be used to assemble the Tesla semi when production eventually starts.

Tesla is expected to build a processing facility to make lithium hydroxide from spodumene concentrate in Corpus Christie, Texas. The location is good for shipping, and it is close to sources of sulfuric acid from the oil industry. This would be the first lithium hydroxide production facility in the U.S. If true, it would help Tesla fulfill the raw material sourcing requirements of the Inflation Reduction Act to qualify its cars for the $7,500 federal tax credit.

Those deals are at market prices; Tesla would reap the profits from processing the spodumene concentrate into hydroxide, but the bulk of the profit from the material supply accrues to the mining company. Tesla has hinted previously of plans to enter the lithium mining business.

The $25,000 EV

First mentioned in 2020, Tesla’s proposed $25,000 car earned the nickname “fluffy pillow” after Musk showed a picture of an object covered by a blanket that many thought resembled a large pillow. The project was put on hold in early 2022 when Musk said Tesla had too much on its plate.

Tesla’s existing best sellers, the Model 3 and Model Y, have been around for a while, a new model, whether it is the truck or an affordable entry level car would freshen up the line-up.

New Factory

Tesla’s production goals put it at or near capacity. The current factory capacity is listed as 1.9 million vehicles per year. The current goal is six million cars a year by 2026. This would require the expansion of existing plants and then some. A new factory takes three years to design, construct, and get rolling. So planning would have to start now. Musk is more likely to build a new plant than change his production goals.

Thoughts from across the internet suggest this could be in Indonesia or Mexico. Cars built in Mexico could qualify for the $7500 tax credit to purchasers.

Capital Raise

To accomplish the above requires money. Currently, there is construction in progress building out Tesla’s German and Texas factories. Billions more would be needed to implement other plans.

There is as of recent reporting, $22 billion in cash on Tesla’s balance sheet. This is a snapshot of quarter-end and not an accurate representation of the company’s finances. Offsetting this large number is $15 billion in trade payables and $7 billion in accrued payables, much of which is due soon.

Tesla may have to go to the market to raise cash for projects that will be presented on March 1^st.

About Tesla Day

The investor event will be live-streamed from Tesla’s Gigafactory in Texas, with some of the company’s institutional and retail investors attending in person. According to Tesla’s press release, investors will be able to see its most advanced production line as well as discuss long-term expansion plans, the generation 3 platform, and capital allocation.

Paul Hoffman

Managing Editor, Channelchek

Sources

https://ir.tesla.com/press-release/tesla-announces-date-2023-investor-day

https://www.whitehouse.gov/briefing-room/statements-releases/2022/09/14/fact-sheet-president-bidens-economic-plan-drives-americas-electric-vehicle-manufacturing-boom/

https://www.barrons.com/articles/tesla-cars-brand-rank-51674047645

The Massive Impact Millennials and Gen Zs Now Have on the Market

Posted on February 27, 2023February 27, 2023 by phoffman@channelchek.com

Image Credit: Jonas Foyn Therkelsen (Flickr)

Old School Versus New School are your Investments Inline with the Changing Investor Makeup?

Investing tastes and strategies vary by generation. And as technologies advance and provide self-directed investors with new methodologies, all investors should pay attention to shifts in the marketplace. According to a report by APEX Fintech Solutions, millennials, and Gen Z are gaining wealth at a rate of 25%, while all generations increased at only 16%. There are major implications for market moves as trillions are controlled by those that may have different risk tolerance, different holding periods, or a broadly different knowledge base about many companies and their products.

What Was Measured

The data compiled in the APEX report analyzed more than 1.3 million Gen Z accounts, in addition to

over 4.0 million millennial accounts, 2.0 million held by Gen X, and over half a million baby boomers. The numbers are calculated as of December 31, 2022. It also compared managed accounts to self-directed investments.

The four generations were defined in this way:

Z: Born 1997-2012 (25 and younger) – Generation Z

M: Born 1981-1996 (26-41 years old) – Millenials

X: Born 1965-1980 (42-57 years old) – Generation X

B: Born 1946-1964 (58-76 years old) – Baby Boomers

Notable Investment Trends and Differences

Sifting through the stats (Q1 2020 – Q2 2022) and comparing self-directed investors with professionally managed accounts, self-directed, as a whole, did comparatively little selling at the lows of the stock market during the pandemic-inspired sell-off (early 2020). Instead, the peak in selling (the low for the hold rate) for self-directed accounts came at the height of meme stock and market run-up in Q1 2021. Over the period, including when selling was at its peak, managed accounts consistently were more active, changing and adding to positions at a much higher rate. Self-directed portfolios were more likely to enter a position, hold it and at times add to current positions.

Late 2022 Comparisons

During the last quarter of 2022, the most popular stocks held by all generations remained the same while the companies positioned in the remainder of the account holdings were in flux and altered quite a bit. The top stocks held were Tesla (TSLA), Apple Inc. (AAPL), Amazon.com, Inc. (AMZN) and Microsoft Corp (MSFT); these were core holdings that were barely traded by any generational grouping.

Below these holdings, each generation had different sets of significant shifts, with real estate investment trusts growing for all four generational groups. Industrials and Energy Sectors were also favored across generations, while holdings in service-related industries were reduced. The two strongest performing sectors in Q4, across the generational rankings, were industrials and energy.

Across all generational holdings, industrials were led by General Electric (GE), Lockheed Martin Corp (LMT), Raytheon Technologies Corp (RTX), Boeing Co (BA), and Delta Air Lines, Inc. (DAL), while energy stocks were led by namely Chevron Corporation (CVX) and Exxon Mobil Corp (XOM), and followed closely by BP plc (BP), Energy Transfer LP Unit (ET), and Enterprise Products Partners LP (EPD).

The tickers that dropped the most on the APEX top 100 list included Rivian (RIVN), which dipped an average of 27.8 spots across all generations, followed by AMC, which slipped 11.8 spots lower. For Gen Z, millennials and Gen X they also reduced holdings in TTD , DKNG and RBLX which dropped between 18 to 27 positions lower in the top 100 holdings.

Greatest Rank Changes by Generation

Tesla (TSLA) which had been in the number one position for Gen X and Gen Z, dropped to number two last quarter as Apple (AAPL) regained popularity. TSLA spent nine consecutive quarters in the top spot, all for Gen Z, TSLA had a four-quarter streak. At number two, TSLA is still a popular stock, especially with Millennials and Gen Z, they chose to hold at the highest rates, even as the price plummeted.

For self-directed investors of all ages, the TSLA hold rate is significantly higher (93%) than for investors who use managed brokerage services (84%).

Throughout the fourth quarter of 2022, retail investors displayed a risk-managed approach to trading and strategic investing as they measured recession risks and a changed monetary policy. Millennials were the most active traders in the fourth quarter, the numbers indicate they were engaged and paid attention as market conditions evolved.

Take Away

There are two big takeaways from the study, the first is that retail investors are gaining power and have become savvier and in tune with smart investing.

The second takeaway is related to the first. Since the start of 2020, combined assets for all generations have risen 16% to $52.4 trillion. Two age groupings, millennials and Gen Z, are gaining wealth at a much higher 25% pace. The massive shift in market power is unfolding and has major implications for how, when, and why investments are transacted.

Paul Hoffman

Managing Editor, Channelchek

Source

https://go.apexfintechsolutions.com/hubfs/ANIO/Apex_Q4-2022_ANIO-Report.pdf

The Week Ahead – No Inflation Report, But Jobs Could Disrupt

Posted on February 27, 2023February 27, 2023 by phoffman@channelchek.com

Will the Markets Regain Traction this Week?

The markets are mostly up on the year, with stocks around 5.5% higher, bonds and the $ U.S. dollar near 1%, and bitcoin near 46.5% above the December 31^st level. Last week there was concern that the positive start most asset classes had at the beginning of the year is going to give a sizeable portion back, perhaps all and then some. This concern was heightened by a measure that shows that inflation’s decline may be tacking higher. There are no inflation reports scheduled in the upcoming week to worry about, and few Fed President addresses to be concerned with.

Monday 2/27

8:30 AM ET, Durable Goods Orders are expected to have dropped off by 4% in January. They had surged in December primarily because of aircraft orders. When transportation is removed to reveal the core Durable Goods reading, it is expected to be flat with no change from the prior month’s volume of orders.
10:00 AM ET, The National Association of Realtors is expected to report that Pending Home Sales rose 1% in January from the prior month. This level increase would be at a slower pace than the 2.5% increase in the prior period.
10:30 AM ET, The Dallas Fed Manufacturing Survey is expected to have declined for the ninth consecutive month. The consensus among economists is down 9.0 versus down 8.4.

Tuesday 2/28

8:30 AM ET, International Trade in Goods is expected to widen as economists expect exports to have fallen off. The expectation of a $91 billion trade deficit for the U.S. in January is $1.3 billion wider than December’s measurements.
9:45 PM ET, The Institute for Supply Management uses a survey to create a composite of business conditions in the Chicago area. The leading indicator is expected to come in at 45 for February, which would be an uptick from January’s 44.3.
10:00 AM ET, Consumer Confidence has been falling; the report released on Tuesday is expected to show a rise of 1.3 points to 108.4.
1:00 PM ET, Money Supply (M1 and M2) are measures of liquidity, it includes household savings, savings and checking deposits, and money market mutual funds. Over the past few years, money supply measures weren’t getting much attention. As households are dealing with rising prices, it may be interesting for investors to see if amounts immediately available to households are declining at a pace that may begin to hamper spending and economic growth.

Wednesday 3/01

10:00 PM ET, The ISM Manufacturing Index surveys business nationally to get the pulse on expected business levels. The forward-looking indicator is expected to have improved to 47.9 versus 47.4 the prior month.

Thursday 3/02

8:30 AM ET, Jobless Claims have been a nail-biter number recently, often well off of expectations. For the week ending February 25th, claims are supposed to show an increase in claims to 200,000.

Friday 3/03

10:00 AM ET, ISM Services Index had a strong January at 55.2, it is expected to trail off some and have a February reading of 54.5.
12:00 PM, Atlanta Federal Reserve President Raphael Bostic has been rattling markets with his ongoing and perhaps heightened hawkish rhetoric. FOMC member Bostic is not a voting member, but his words have the power to move markets.
4:15 PM, Thomas Barkin is the Richmond Federal Reserve President. He is scheduled to speak after the market closes. If the Fed is looking to adjust expectations before its late March meeting, FOMC member Barkin may be one that carries that message.

What Else

Earnings reports will continue with some of the most watched being Occidental Petroleum (OXY), and Zoom (Z.M.) on Monday. Retailer Target (TGT) reports on Tuesday, Salesforce (CRM), and NIO (NIO) on Wednesday , and Anheiser Busch (BUD) on Thursday.

The U.S. Supreme Court will begin hearing two cases on student loan debt forgiveness beginning on Tuesday. Expect some non-market-moving discourse on this subject during the week.

Paul Hoffman

Managing Editor, Channelchek

Release – Aurania Announces Events During PDAC 2023

Posted on February 24, 2023February 24, 2023 by aweinsoff@channelchek.com

Research News and Market Data on AUIAF

Toronto, Ontario, February 24, 2023 – Aurania Resources Ltd. (TSXV: ARU; OTCQB: AUIAF; Frankfurt: 20Q) (“Aurania” or the “Company”) is pleased to announce that it will be attending the Prospector’s and Developers International Convention (PDAC) being held March 5th – 8th, 2023 at the Metro Toronto Convention Centre (MTCC) in Toronto, Canada.

PDAC Booth Location

Aurania will be exhibiting at booth 2948 in the Investors Exchange located in the MTCC South Building, Level 800. Please note our new booth location. For more information about PDAC and registration, please visit https://www.pdac.ca/convention/registration.

March 5th – 5:00pm Shareholder Meet and Greet with Management

Aurania is hosting a meet-and-greet for shareholders on Sunday, March 5th from 5:00pm-8:00pm in Salon 1, 19th Floor, at The Fairmont Royal York Hotel, 100 Front Street West, Toronto, Ontario. Due to capacity limitations, we kindly ask that you confirm your attendance no later than March 1st by RSVP to info@aurania.com.

March 6th – 9:05am Ecuador Day

Ecuador Day will take place on Monday, March 6th at 8:00am ET in Room 206F at the MTCC. Ecuador Day is being organized and hosted by the Ecuador Chamber of Mines and will run from 8:00am-12:00pm. Representatives from the Government of Ecuador are expected to provide an update on the mining industry in Ecuador during this event.

March 7th – 10:00am Panel on Planning for Sustainable Mineral Development 101

Aurania’s Head of CSR, Ms. Carolina Lasso, has been invited to participate in a session sub-topic titled “Setting the stage for success with the S in ESG: Engagement and agreement making in early exploration” on Tuesday, March 7th at 10:00am in Room 715 at the MTCC.

ERM – Environmental Resources Management has put together this two-hour lightning talks panel in collaboration with the PDAC Sustainability Committee. The panel will feature key sub-topics within the sustainable mining framework explored by junior companies, community members, investors, and expert speakers. Click here for more information:

https://www.pdac.ca/convention/programming/sustainability-program/sessions/sustainability-program/planning-for-sustainable-mineral-development-101

About Aurania

Aurania is a mineral exploration company engaged in the identification, evaluation, acquisition and exploration of mineral property interests, with a focus on precious metals and copper in South America. Its flagship asset, The Lost Cities – Cutucu Project, is located in the Jurassic Metallogenic Belt in the eastern foothills of the Andes mountain range of southeastern Ecuador.

Information on Aurania and technical reports are available at www.aurania.com and www.sedar.com, as well as on Facebook at https://www.facebook.com/auranialtd/, Twitter at https://twitter.com/auranialtd, and LinkedIn at https://www.linkedin.com/company/aurania-resources-ltd-.

For further information, please contact:

Carolyn Muir

VP Corporate Development & Investor Relations

Aurania Resources Ltd.

(416) 367-3200

carolyn.muir@aurania.com

Neither the TSX-V nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this release.

Release – Bowlero Corp. Completes Acquisition In New Jersey

Posted on February 24, 2023February 24, 2023 by aweinsoff@channelchek.com

Research News and Market Data on BOWL

02/24/2023

RICHMOND, Va.–(BUSINESS WIRE)– Bowlero Corp., (NYSE: BOWL) the global leader in bowling entertainment, completed the acquisition of The Big Event in New Jersey on February 14^th. This announcement marks the Company’s first completed acquisition in calendar year 2023, out of a robust pipeline of remaining acquisitions.

Brett Parker, President & Chief Financial Officer of Bowlero Corp., stated, “Today’s announcement illustrates our continued commitment to expanding our unit base and simultaneously improving our average unit volumes.”

The Big Event is located in Cherry Hill, NJ, 20 miles outside of Philadelphia. This impressive 36 lane center features billiards, ping pong, shuffleboard, arcade games and VIP private event rooms. The acquisition of The Big Event marks the Company’s 10^th location in the state of New Jersey. This center opened under Bowlero Corp. management on Friday, February 17^th.

Parker stated in closing, “We look forward to welcoming this center to our growing national footprint and, as always, we remain focused on growth while continuing to prioritize a world-class experience for our guests.”

Thus far in fiscal year 2023 Bowlero Corp completed 12 acquisitions.

About Bowlero Corp
Bowlero Corp. is the global leader in bowling entertainment, media, and events. With more than 325 bowling centers across North America, Bowlero Corp. serves more than 30 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

For Media:
PR@BowleroCorp.com

For Investors:
IRSupport@BowleroCorp.com

Source: Bowlero Corp.

Labrador Gold Corp. (NKOSF) – High Expectations for 2023

Posted on February 24, 2023February 24, 2023 by cpereira@noblefcm.com

Friday, February 24, 2023

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

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

Significant progress at Kingsway. Exploration and drilling at the company’s 100%-owned Kingsway gold project is targeting the Appleton Fault over a 12-kilometer strike length. With approximately $17 million in cash, Labrador Gold has ample financial resources to fund the remaining 34,000 meters of drilling of the company’s planned 100,000-meter drill program.

2023 drilling program. Drilling will continue this year at the Big Vein target and further drilling will be undertaken at the Midway and Pristine targets. Labrador Gold currently has two drill rigs deployed at the Big Vein target. The company expects to add a third rig to drill northeast of the Pristine target which could later move to the Midway target, and a fourth rig to drill in an area (“The Gap”) between Big Vein and Pristine.

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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.

FAT Brands Inc. (FAT) – Fourth Quarter and Full Year 2022 Results

Posted on February 24, 2023February 24, 2023 by cpereira@noblefcm.com

Friday, February 24, 2023

FAT Brands (NASDAQ: FAT) is a leading global franchising company that strategically acquires, markets, and develops fast casual, quick-service, casual dining, and polished casual dining concepts around the world. The Company currently owns 17 restaurant brands: Round Table Pizza, Fatburger, Marble Slab Creamery, Johnny Rockets, Fazoli’s, Twin Peaks, Great American Cookies, Hot Dog on a Stick, Buffalo’s Cafe & Express, Hurricane Grill & Wings, Pretzelmaker, Elevation Burger, Native Grill & Wings, Yalla Mediterranean and Ponderosa and Bonanza Steakhouses, and franchises and owns over 2,300 units worldwide. For more information on FAT Brands, please visit www.fatbrands.com.

Joe Gomes, Managing Director – Generalist Analyst, 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.

4Q22 Results. FAT Brands reported 4Q22 revenue of $103.8 million, up 39.9% y-o-y from $74.2 million in the year ago quarter. The increased revenue reflects the 2021 acquisitions and ongoing recovery from COVID impacts as SSS was up 2.7%. FAT reported adjusted EBITDA of $19.6 million in the quarter, down from $24.6 million in 3Q22. Net loss for the quarter was $70.8 million, or a loss of $4.29 per share, compared to a net loss of $19.6 million, or a loss of $1.38 per share, last year. We had projected revenue of $104.8 million and a net loss of $16.5 million, or a loss of $0.99 per share.

One-Time Items Impact. The quarter’s results were impacted by a number of one-time non-cash charges, including a $16.1 million non-cash reserve on employee retention credits, a $14 million non-cash trademark impairment charge, and a $20.4 million valuation allowance.

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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).

Cumulus Media (CMLS) – Likely A Few Rough Quarters Ahead

Posted on February 24, 2023February 24, 2023 by cpereira@noblefcm.com

Friday, February 24, 2023

Cumulus Media (NASDAQ: CMLS) is an audio-first media company delivering premium content to over a quarter billion people every month — wherever and whenever they want it. Cumulus Media engages listeners with high-quality local programming through 406 owned-and-operated radio stations across 86 markets; delivers nationally-syndicated sports, news, talk, and entertainment programming from iconic brands including the NFL, the NCAA, the Masters, CNN, the AP, the Academy of Country Music Awards, and many other world-class partners across more than 9,500 affiliated stations through Westwood One, the largest audio network in America; and inspires listeners through the Cumulus Podcast Network, its rapidly growing network of original podcasts that are smart, entertaining and thought-provoking. Cumulus Media provides advertisers with personal connections, local impact and national reach through broadcast and on-demand digital, mobile, social, and voice-activated platforms, as well as integrated digital marketing services, powerful influencers, full-service audio solutions, industry-leading research and insights, and live event experiences. Cumulus Media is the only audio media company to provide marketers with local and national advertising performance guarantees. For more information visit www.cumulusmedia.com.

Michael Kupinski, Director of Research, Noble Capital Markets, Inc.

Patrick McCann, Research Associate, Noble Capital Markets, Inc.

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

Better than expected Q4. The company reported Q4 revenue of $251.3 million, roughly flat with the year earlier quarter. Excluding political revenue of $8.3 million, Q4 revenue was down a modest 3% from the prior year period. Adj. EBITDA of $42.7 million was down a modest 1.2%. Both Q4 revenues and Adj. EBITDA beat our expectations, by 4.3% and 13.9%, respectively.

National underperformed. Excluding Political advertising, National advertising, including Network, decreased %. Cumulus is heavily weighted to National/Network advertising, accounting for 45% of total revenues. For many in the industry, National is a more modest 12% to 15% of total advertising.

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

Coeur Mining (CDE) – No Big Surprises

Posted on February 24, 2023February 24, 2023 by cpereira@noblefcm.com

Friday, February 24, 2023

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

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

Fourth quarter and full year 2022 financial results. Coeur reported adjusted fourth quarter and full year 2022 losses per share of $(0.06) and $(0.32), respectively, and in line with our estimates. Fourth quarter and full year adjusted EBITDA were $35.9 million and $139.0 million. Full year gold and silver ounces produced were 330.3 thousand and 9.8 million, respectively, while ounces sold were 330.0 thousand and 9.8 million. Free cash flow during the fourth quarter and full year 2022 amounted to $(84.5) million and $(326.7) million due in part to heavy capital expenditures of $113.1 million and $352.4 million, respectively. On balance, financial results were in line with our expectations.

Completion of the Rochester expansion is expected by mid-2023. As of December 31, 2022, approximately $605 million of the $650 million to $670 million project cost has been committed, while $494 million had been incurred.

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

Baudax Bio (BXRX) – Fourth Quarter and Full Year 2022 Reported

Posted on February 24, 2023February 24, 2023 by cpereira@noblefcm.com

Friday, February 24, 2023

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 Research Analyst, Healthcare Services & Medical Devices, Noble Capital Markets, Inc.

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

Baudax Bio reported 4Q 2022. While we had removed 4Q ANJESO revenues with the announced ANJESO discontinuation at the end of December, the Company reported 4Q revenues of $0.310 million in the quarter. Net loss per share for 4Q 2022 was $12.33 per share as compared to our outlook of $9.76 per share loss as the Company took additional write-offs related to ANJESO.

Baudax Bio reported full year 2022. For the year 2022, Baudax Bio generated revenues of $1.27 million, up from $1.08 million in the 2021 year. The Company took a write-down for impairment of intangibles of $19.7 million. The full year impairment write-down for property and equipment totaled $4.2 million. The reported full year 2022 net loss was $58.8 million or a loss of $177.30 per share compared to our full year 2022 expected loss of $55.3 million or $189.44 per share.

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ACCO Brands (ACCO) – A Look into the Fourth Quarter and Full Year 2022 Results

Posted on February 24, 2023February 24, 2023 by cpereira@noblefcm.com

Friday, February 24, 2023

ACCO Brands Corporation is one of the world’s largest designers, marketers and manufacturers of branded academic, consumer and business products. Our widely recognized brands include AT-A-GLANCE®, Esselte®, Five Star®, GBC®, Kensington®, Leitz®, Mead®, PowerA®, Quartet®, Rapid®, Rexel®, Swingline®, Tilibra®, and many others. Our products are sold in more than 100 countries around the world. More information about ACCO Brands, the Home of Great Brands Built by Great People, can be found at www.accobrands.com.

Joe Gomes, Managing Director – Generalist Analyst, 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.

4Q Results. ACCO Brands posted net sales of $499.4 million, a decrease of 12.4% from the prior year’s $570.3 million. Operating income for the quarter was at $35.6 million versus $63.6 million the prior year due to lower sales volumes and higher inflation. Net income was reported at $18.8 million, or $0.20 per diluted share, compared to $53.5 million, or $0.55/sh, last year. We estimated revenue of $510.0 million, operating income of $47 million, net income of $26 million, and EPS of $0.28.

Revenue Segments. North America saw a decrease in sales to $225.7 million versus $271.0 million the prior year with operating income of $8.9 million versus $34.2 million a year ago. EMEA sales were $156.0 million versus $187.9 million the year prior, with operating income of $12.7 million versus $21.6 million. Lastly, International had sales of $117.7 million, an increase from last year’s $111.4 million, with operating income of $22.7 million, an increase over last year’s $20.9 million.

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Phases of Study of Psychedelic Drugs and Current Findings

Posted on February 24, 2023February 24, 2023 by phoffman@channelchek.com

Use of Psychedelics to Treat PTSD, OCD, Depression and Chronic Pain – a Researcher Discusses Recent Trials, Possible Risks

New research is exploring whether psychedelic drugs, taken under strict medical supervision, might help in treating post-traumatic stress disorder, chronic pain, depression and obsessive-compulsive disorder. Dr. Jennifer Mitchell – a professor in the Departments of Neurology and Psychiatry & Behavioral Science in the School of Medicine at the University of California, San Francisco was interviewed by SciLine. She discusses what scientists have found to date about the effectiveness of these drugs in treating these disorders and how best for them to be administered. Highlights and key excerpts of the interview have been transcribed and published below.

What are psychedelic drugs and how do they work?

Dr. Jennifer Mitchell: Psychedelic basically means “mind manifesting,” suggesting that the compound assists one in uncovering subject matter that perhaps is otherwise deeply hidden from the conscious mind.

It’s a slightly different term from hallucinogen, which you see used almost interchangeably at times with the term psychedelic.

A hallucinogen by definition is something that makes you see, hear, smell something that isn’t otherwise there, so you can imagine there’s a lot of overlap between psychedelics and hallucinogens.

Which types of psychedelic drugs are being studied by researchers for potential therapeutic use?

Dr. Jennifer Mitchell: The two most well studied drugs at this point are MDMA and psilocybin.

MDMA is being evaluated mainly for treatment of post-traumatic stress disorder treatments, and psilocybin mainly for treatment of resistant depression and major depressive disorder.

MDMA is the furthest along because there’s phase 3 data (data from late-stage research) and the possibility that a new drug application would be submitted to the FDA sometime later this year.

LSD is also being evaluated for a number of different indications, most notably obsessive-compulsive disorder.

And then a couple of sort of heavier hitters are now being tested in primarily healthy control populations, including drugs like mescaline and ayahuasca.

What have scientists discovered about whether these drugs are effective in treating health problems like PTSD or chronic pain?

Dr. Jennifer Mitchell: The drugs so far appear to be quite effective. I think one key, though, is that they’re typically being administered in conjunction with some form of psychotherapy.

So it’s important to keep that in mind when we look at the results from some of these recent trials that these are not drugs that are being administered in isolation. You are not taking home a bottle of pills and taking those twice a day as you would, say, an antidepressant. These are administered in a very particular way.

What is involved in therapeutic treatment using these drugs?

Dr. Jennifer Mitchell: Typically, prior to taking the drug at all, subjects participate in a number of preparatory sessions so that they understand a little bit about what is going to happen on an experimental session day.

And then subjects come into a room that looks very much like a comfortable living room, and they spend all day there. The drug is administered typically in the morning. For psilocybin, you’re looking at a six-hour dosing session, and for MDMA, an eight-hour dosing session.

You are in the company of a group of trained providers: therapists, psychedelic facilitators, psychiatrists and clinical research coordinators.

What are the potential risks of using psychedelic drugs for therapeutic purposes?

Dr. Jennifer Mitchell: One concern we’ve had is cardiovascular risk, and so we are taking great care in some of the clinical trials at present to evaluate cardiovascular burden, including heart attack risk, during and after the experiment. This evaluation includes tracking the heart rate and blood pressure of the participants.

In addition, researchers are worried about suicidality, in part because these are treatment-resistant populations that we’re starting off with, and so there’s a concern that perhaps, if they’re destabilized – either by the psychedelic, or just by tapering off their other meds in order to be part of a psychedelic trial – that we could run the risk of suicidality.

Lastly, I think the FDA has been concerned about the possibility that psychedelics are addictive, and so we’ve been following up with study participants to ensure that they aren’t engaging in drug seeking or drug taking outside of the study.

What do we know about the safety of taking psychedelics outside the clinical context?

Dr. Jennifer Mitchell: I think we’ve all heard stories from the ‘60s and ’70s of people taking psychedelics and having very bad experiences. What we know now is that the environment in which you take the psychedelic is of the utmost importance. It’s not appropriate at this point to try to take some of these substances or replicate some of these protocols on your own without oversight.

Watch the full interview to hear more about psychedelic medicine.

SciLine is a free service based at the nonprofit American Association for the Advancement of Science that helps journalists include scientific evidence and experts in their news stories.