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Viking Cruises Makes a Splash with $1.5 Billion IPO

Posted on by slightbourne@noblecapitalmarkets.com

Viking Cruises, the leading provider of destination-focused river and ocean cruises, hit the open waters of the public markets today in a blockbuster $1.5 billion initial public offering on the New York Stock Exchange. The Los Angeles-based company and its shareholders offered a total of 64,041,668 ordinary shares at $24 apiece, with the potential for an additional $230 million in proceeds if underwriters exercise their over-allotment option in full.

The long-awaited IPO marks a major milestone for Viking, which was founded in 1997 by Norwegian entrepreneurs Torstein Hagen and his daughter Karine. From its humble beginnings operating modest river cruises along the Russian waterways, the company has grown into a heavyweight of the cruise industry known for its culturally immersive voyages that appeal to intellectually curious travelers.

“This is an incredibly exciting day for Viking as we embark on our next chapter as a public company,” said Torstein Hagen, Viking’s Chairman. “The proceeds from this offering will enable us to further our commitment to creating exceptional destination-focused experiences for our guests.”

While Viking raised $264 million from its portion of the IPO shares, the lion’s share came from long-time investors like private equity firms TPG, Genting Group, and AAMCF who cashed out $1.27 billion worth of their stakes. Viking did not receive any proceeds from shares sold by these selling shareholders.

The offering was hot with investors, getting upsized by 8 million shares due to high demand. Viking’s $6.0 billion market cap and profitable business model operating a fleet of 63 river vessels and 8 ocean ships made it an attractive catch amidst the choppy conditions facing many travel companies.

Now trading under the catchy “VIK” ticker, the IPO was led by heavyweight investment banks BofA Securities and J.P. Morgan acting as lead underwriters. They were joined by a syndicate including UBS, Wells Fargo, HSBC, Morgan Stanley and seven other co-managers.

Viking has ambitious plans for the growth capital. The company intends to use the $264 million net proceeds to fund additional cruise ships and travel experiences, invest in sales and marketing, and accelerate expansion into new markets. Up next are the launches of Viking’s highly-anticipated expedition cruises to the Arctic and Antarctic scheduled for 2025.

The IPO caps off a remarkable rise for the company from its modest beginnings over 25 years ago. Thanks to its unique vision of combining a curated curriculum of educational content with Scandinavian design and cuisine, Viking has cultivated a loyal community whom they fondly refer to as “The Thinking Person.”

With the winds of the public markets now at its back, Viking’s next voyage looks bound for its status as the world’s largest and leading small-ship cruise line. As Torstein Hagen says, “We will remain driven by our mandate of creating culturally enriching experiences that allow our guests to explore the world in comfort.”

Orion Group Holdings (ORN) – First Quarter Post Call Commentary

Posted on by cpereira@noblefcm.com


Wednesday, May 01, 2024

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.

Improved Margin. In spite of the revenue shortfall caused by unanticipated project delays, management’s focus on improved bidding and cost controls resulted in gross margin increasing to 9.7% in the quarter from 3.7% a year ago. We anticipate ongoing margin improvement.

Environment Ripe with Opportunity. As we have outlined in previous reports, the opportunity set continues to grow, now at $11 billion with solid growth potential in both the Marine and Concrete segments. Government funding, both federal and state, is pushing Marine growth while data center demand is fueling Concrete opportunities.


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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. 

Maple Gold Mines (MGMLF) – Laying the Groundwork for the 2024 Drilling Program

Posted on by cpereira@noblefcm.com


Wednesday, May 01, 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.

Comprehensive technical review. Since late 2023, Maple Gold has been undertaking a systematic compilation and review of its technical database associated with its 400 square kilometer property package. The company is integrating all geological, geophysical, geochemical, and drilling data to improve target generation and drive successful exploration outcomes.

New structural model to inform the drilling program. Maple Gold’s technical team is nearing completion of a new three-dimensional litho-structural model to support a focused ranking and prioritization of property-wide drill targets to be tested later this year. A high-resolution drone magnetic survey of select areas will be completed in the next few weeks.


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

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

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

Alliance Resource Partners (ARLP) – Strong Start to 2024; Outlook Remains Favorable

Posted on by cpereira@noblefcm.com


Wednesday, May 01, 2024

ARLP is a diversified natural resource company that generates operating and royalty income from coal produced by its mining complexes and royalty income from mineral interests it owns in strategic oil & gas producing regions in the United States, primarily the Permian, Anadarko and Williston basins. ARLP currently produces coal from seven mining complexes its subsidiaries operate in Illinois, Indiana, Kentucky, Maryland and West Virginia. ARLP also operates a coal loading terminal on the Ohio River at Mount Vernon, Indiana. ARLP markets its coal production to major domestic and international utilities and industrial users and is currently the second largest coal producer in the eastern United States. In addition, ARLP is positioning itself as an energy provider for the future by leveraging its core technology and operating competencies to make strategic investments in the fast growing energy and infrastructure transition.

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.

First quarter financial results. Alliance reported first quarter EBITDA and earnings per unit (EPU) of $235.0 million and $1.21, respectively, compared to $270.9 million and $1.45 during the prior year period. We had forecast EBITDA and EPU of $209.7 million and $0.97. Coal sales price realizations were above the high end of the partnership’s annual guidance range, while the oil & gas royalty segment experienced record volumes. Additionally, operating expenses were lower than expected and the company benefited from an $11.9 million mark-to-market change in the value of digital assets.

Updating estimates. We have increased our 2024 EBITDA and EPU estimates to $871.3 million and $4.14 from $841.1 million and $3.90, respectively. We think our forward estimates could be conservative based on the potential for higher average coal sales price realizations and stronger than expected performance from the partnership’s oil and gas royalty segment.


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

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

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

Google Joins the $2 Trillion Club as AI Ambitions Pay Off

Posted on by slightbourne@noblecapitalmarkets.com

In a landmark achievement, Alphabet Inc. (Google’s parent company) has officially become the 4th publicly traded company in history to cross the $2 trillion market capitalization threshold. After briefly touching this vaunted level in late 2021, Google has now comfortably sustained a $2 trillion-plus valuation for an entire trading day amid investor enthusiasm for its artificial intelligence initiatives.

Google now stands among an exclusive group of megacap tech titans alongside Apple ($2.6T), Microsoft ($3.0T), and chipmaker Nvidia ($2.2T). E-commerce behemoth Amazon is nipping at Google’s heels with a $1.8T market cap, while social media giant Meta lags at $1.1T after its controversial metaverse pivot.

The milestone cements Google’s status as a generational company and one of the most pivotal names reshaping the world through cutting-edge AI development. While Google built its fortune through pioneering internet search and digital advertising, investors are now betting billions that its bold AI plays will unlock massive new revenue streams for decades to come.

Alphabet’s surge past $2 trillion follows the company reporting blowout Q1 2024 earnings results that highlighted its AI progress. Revenue jumped 15% year-over-year to $80.5 billion, with profits increasing 14% to $23.7 billion. These robust gains came even as Google enacted cost-cutting layoffs and refocused spending toward generative AI like the company’s new Gemini chatbot.

On the earnings call, CEO Sundar Pichai expressed confidence Google was finding “small” ways to monetize AI already, such as improving ad targeting through its Performance Max platform. However, he signaled a go-slow approach to preserve the integrity of Google’s flagship search business. “We’re being measured in how we do this, focusing on areas where Gen AI can improve the search experience while also prioritizing traffic to websites and merchants,” Pichai stated.

Google’s strong performance across its legacy businesses gave it financial flexibility to make big AI investments. Search advertising was up 14%, YouTube ads grew 21%, and premium subscription revenues rose 18% on increasing YouTube Premium adoption. Even after over $700 million in severance costs from layoffs, Google’s operating margins remained at robust levels.

The solid Q1 results helped convince Wall Street that Google has the resources and focus to remain an AI leader. Unlike rival Meta’s stock sliding 10% recently when it warned of heavy AI investment before future payoffs, Alphabet shares surged over 5% as investors cheered its $70 billion share buyback authorization and first-ever $0.20 quarterly dividend initiation.

For investors, Google’s $2 trillion valuation reflects optimism in the company’s ability to commercialize emerging AI technologies across products like search, cloud computing, smart devices, and digital advertising. AI is expected to unlock multi-trillion dollar growth opportunities by enhancing products, streamlining operations, accelerating research, and spawning new business models.

However, realizing AI’s transformative power will require overcoming major hurdles like developing ethical guidelines, addressing data privacy, navigating a patchwork of regulations, and solving issues like bias and transparency. Failure to responsibly implement AI could open Google and peers to public backlash and legal consequences.

Yet the upsides transcend profits – the companies driving the AI revolution may gain outsized influence in shaping this disruptive technology’s societal impact for decades. For Google and its big tech brethren, striking the right balance between rapid AI development and responsibility will be as critical as the technology breakthroughs themselves.

With a $2 trillion stamp of approval, the AI era has officially arrived for Google. The search giant now faces heightened pressures to deliver on its vision of AI ushering in a new wave of groundbreaking innovations and economic prosperity. For a company born into humble startup origins, this lofty $2 trillion AI perch brings both unprecedented opportunities and unprecedented challenges.

Release – Great Lakes Dredge & Dock Corporation Schedules Announcement Of 2024 First Quarter Results

Posted on by aweinsoff@channelchek.com

Research News and Market Data on GLDD

Apr 30, 2024

HOUSTON, April 30, 2024 (GLOBE NEWSWIRE) — Great Lakes Dredge & Dock Corporation (NASDAQ: GLDD) today announced that it will release the financial results for its three months ended March 31, 2024 on Tuesday, May 7, 2024 at 7:00 a.m. C.D.T. A conference call with the Company will be held the same day at 9:00 a.m. C.D.T.

Investors and analysts are encouraged to pre-register for the conference call by using the link below. Participants who pre-register will be given a unique PIN to gain immediate access to the call. Pre-registration may be completed at any time up to the call start time.

To pre-register, go to https://register.vevent.com/register/BId503a795e3a349eebb1ee1d193639e14

The live call and replay can also be heard at https://edge.media-server.com/mmc/p/wkfzmfb4 or on the Company’s website, www.gldd.com, under Events on the Investor Relations page. A copy of the press release will be available on the Company’s website.

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.

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

Release – Travelzoo Announces Share Repurchase Program

Posted on by aweinsoff@channelchek.com

Research News and Market Data on TZOO

Apr 30, 2024, 07:30 ET

NEW YORK, April 30, 2024 /PRNewswire/ — Travelzoo® (NASDAQ: TZOO), the club for travel enthusiasts, today announced that its board of directors has authorized the repurchase of up to 1,000,000 shares of the Company’s outstanding common stock.

Purchases may be made, from time to time, in the open market and will be funded from available cash. The number of shares to be purchased and the timing of purchases will be based on the level of Travelzoo’s cash balances, general business and market conditions, and other factors, including alternative investment opportunities.

About Travelzoo
We, Travelzoo®, are the club for travel enthusiasts. Our 30 million members receive exclusive offers and one-of-a-kind experiences personally reviewed by our deal experts around the globe. We have our finger on the pulse of outstanding travel, entertainment, and lifestyle experiences. We work in partnership with more than 5,000 top travel suppliers—our long-standing relationships give Travelzoo members access to irresistible deals.

Investor Relations:
ir@travelzoo.com 

SOURCE Travelzoo

Release – MAIA Biotechnology Announces Share Purchase By Director Adelina Louie In Private Placement

Posted on by aweinsoff@channelchek.com

Research News and Market Data on MAIA

April 30, 2024 8:08am EDT

  • Original seed investor has remained top MAIA stockholder

CHICAGO–(BUSINESS WIRE)– MAIA Biotechnology, Inc., (NYSE American: MAIA) (“MAIA”, the “Company”), a clinical-stage biopharmaceutical company developing targeted immunotherapies for cancer, today announced that independent director Ms. Adelina Louie Ngar Yee made an individual purchase of 19,665 shares, and warrants for 19,665 shares, of MAIA’s common stock as part of the Company’s recent private placement of common stock and warrants to accredited investors and certain Company directors. The securities sold to the Company directors participating in the offering were issued pursuant to the Company’s 2021 Equity Incentive Plan.

Vlad Vitoc, M.D., MAIA’s Chairman and Chief Executive Officer, commented, “As a top investor in MAIA, we extend our deep appreciation to Adelina for both her longstanding support as director and for her participation in this offering alongside director Stan Smith and other long-term stockholders.”

In previous public remarks, Ms. Louie stated her belief that MAIA is at the critical point of bringing life-changing therapies to large populations of cancer sufferers.

Ms. Louie has 30 years of service with HSBC Group in a variety of functions, principally with businesses of Global Banking and Markets including investment and securities management, asset management, and global research. Most recently she was the Chief Operating Officer of Internal Audit at HSBC Group.

About MAIA Biotechnology, Inc.

MAIA is a targeted therapy, immuno-oncology company focused on the development and commercialization of potential first-in-class drugs with novel mechanisms of action that are intended to meaningfully improve and extend the lives of people with cancer. Our lead program is THIO, a potential first-in-class cancer telomere targeting agent in clinical development for the treatment of NSCLC patients with telomerase-positive cancer cells. For more information, please visit www.maiabiotech.com.

Forward Looking Statements

MAIA cautions that all statements, other than statements of historical facts contained in this press release, are forward-looking statements. Forward-looking statements are subject to known and unknown risks, uncertainties, and other factors that may cause our or our industry’s actual results, levels or activity, performance or achievements to be materially different from those anticipated by such statements. The use of words such as “may,” “might,” “will,” “should,” “could,” “expect,” “plan,” “anticipate,” “believe,” “estimate,” “project,” “intend,” “future,” “potential,” or “continue,” and other similar expressions are intended to identify forward looking statements. However, the absence of these words does not mean that statements are not forward-looking. For example, all statements we make regarding (i) the initiation, timing, cost, progress and results of our preclinical and clinical studies and our research and development programs, (ii) our ability to advance product candidates into, and successfully complete, clinical studies, (iii) the timing or likelihood of regulatory filings and approvals, (iv) our ability to develop, manufacture and commercialize our product candidates and to improve the manufacturing process, (v) the rate and degree of market acceptance of our product candidates, (vi) the size and growth potential of the markets for our product candidates and our ability to serve those markets, and (vii) our expectations regarding our ability to obtain and maintain intellectual property protection for our product candidates, are forward looking. All forward-looking statements are based on current estimates, assumptions and expectations by our management that, although we believe to be reasonable, are inherently uncertain. Any forward-looking statement expressing an expectation or belief as to future events is expressed in good faith and believed to be reasonable at the time such forward-looking statement is made. However, these statements are not guarantees of future events and are subject to risks and uncertainties and other factors beyond our control that may cause actual results to differ materially from those expressed in any forward-looking statement. Any forward-looking statement speaks only as of the date on which it was made. We undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by law. In this release, unless the context requires otherwise, “MAIA,” “Company,” “we,” “our,” and “us” refers to MAIA Biotechnology, Inc. and its subsidiaries.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240430225198/en/

Investor Relations Contact
+1 (872) 270-3518
ir@maiabiotech.com

Source: MAIA Biotechnology, Inc.

Released April 30, 2024

Release – Maple Gold Provides Operational Update And Announces Annual Equity Incentive Plan Grants

Posted on by aweinsoff@channelchek.com

Research News and Market Data on MGMLF

Vancouver, British Columbia–(Newsfile Corp. – April 30, 2024) – Maple Gold Mines Ltd. (TSXV: MGM) (OTCQB: MGMLF) (FSE: M3G) (“Maple Gold” or the “Company“) is pleased to provide an operational update related to the advancement of the Company’s gold projects located in Québec, Canada. Consistent with the Company’s value-oriented exploration strategy, the ongoing synthesis and reinterpretation of multiple exploration datasets by the Company’s revamped technical team is nearing completion, while management continues to significantly reduce costs and preserve capital as demonstrated in the Company’s audited financial results for the year ended December 31, 2023. The Company also announces that its Board of Directors has approved the issuance of annual equity incentive grants to certain employees, officers, directors and consultants.

Operational Update

Since late 2023, Maple Gold has been engaged in a systematic review and compilation of the extensive technical database on its entire ~400 km2 property package that straddles the fertile Casa Berardi Break and contains an established near-surface, multi-million ounce gold mineral resource as well as a past-producing high-grade gold mine complex. This critical re-evaluation is aimed at integrating all available geological, geophysical, geochemical and drilling data to improve target generation and drive exploration results. The Company’s technical team is nearing completion of a new 3D litho-structural model based on selective core relogging within mineralized zones, updated level plans, longitudinal and cross-sections, and detailed geophysical and geochemical data analysis that will support the focused ranking and prioritization of property-wide drill targets to be tested later this year. As part of this exercise, the Company has also initiated high-resolution drone magnetic surveys in selected areas, which will be completed in the next following weeks.

“With the support of our partner and key stakeholders, we have seized this golden opportunity to reposition the Company for future success by delivering a high-quality exploration model supported by a wealth of technical data while simultaneously right-sizing our business,” stated Kiran Patankar, President and CEO of Maple Gold. “We believe as strongly as ever in the compelling discovery potential offered by our strategically located district-scale gold projects. The culmination of these efforts is well-timed amid surging gold prices and increasing investment focus on organic growth through the drill bit.”

The Company has engaged with notable geological, geophysical and geochemical specialists to assist with the ongoing interpretation of the vast amount of exploration data that has been collected by Maple Gold and others over the past 50 years. This includes current members of the Company’s Technical Committee: Dr. Gérald Riverin, Mr. Maurice Tagami, P.Eng. and Mr. Paul Harbidge. The results of the geologic reinterpretation are being finalized and will be reported shortly. Drilling is expected to recommence later this year with full details to be provided in subsequent announcements.

Annual Equity Incentive Plan Grants

Pursuant to its Equity Incentive Plan (the “Plan”) dated December 17, 2020, as amended, and the policies of the TSX Venture Exchange, the Company’s Board of Directors granted stock options (“Options”), Restricted Share Units (“RSUs”) and Deferred Share Units (“DSUs”) to certain employees, officers, directors and consultants. The Company granted Options to purchase an aggregate of 4,000,000 common shares of the Company (each, a “Common Share”), with an exercise price of $0.08 per Common Share. Each Option grant vests in three equal tranches over a 24-month period. Once vested, each Option is exercisable into one Common Share for a period of five years from the date of the grant. The Company also granted a total of 3,250,000 RSUs and 725,000 DSUs. Each RSU grant vests in three equal tranches over a 24-month period. Once vested, each RSU and DSU entitles the holder thereof to receive either one Common Share, the cash equivalent of one Common Share or a combination of cash and Common Shares, as determined by the Company, net of applicable withholdings. DSUs may not be exercised until a director ceases to serve on the Company’s Board of Directors.

Further details regarding the Plan are set out in the Company’s Management Information Circular filed on May 15, 2023, which is available on SEDAR.

Qualified Person

The scientific and technical data contained in this press release was reviewed and prepared under the supervision of Jocelyn Pelletier, M.Sc., P.geo., Chief Geologist of Maple Gold. Mr. Pelletier has verified the data related to the exploration information disclosed in this press release through his direct participation in the work performed. Mr. Pelletier is a Qualified Person under National Instrument 43-101 Standards of Disclosure for Mineral Projects.

About Maple Gold

Maple Gold Mines Ltd. is a Canadian advanced exploration company in a 50/50 joint venture with Agnico Eagle Mines Limited to jointly advance the district-scale Douay and Joutel gold projects located in Québec’s prolific Abitibi Greenstone Gold Belt. The projects benefit from exceptional infrastructure access and boast ~400 km2 of highly prospective ground including an established gold resource at Douay (SLR 2022) that holds significant expansion potential as well as the past-producing Telbel and Eagle West mines at Joutel. In addition, the Company holds an exclusive option to acquire 100% of the Eagle Mine Property, a key part of the historical Joutel mining complex.

The district-scale property package also hosts a significant number of regional exploration targets along a 55-km strike length of the Casa Berardi Deformation Zone that have yet to be tested through drilling, making the project ripe for new gold and polymetallic discoveries. The Company is well capitalized and is currently focused on carrying out exploration and drill programs to grow resources and make new discoveries to establish an exciting new gold district in the heart of the Abitibi. For more information, please visit www.maplegoldmines.com.

ON BEHALF OF MAPLE GOLD MINES LTD.

“Kiran Patankar”

Kiran Patankar, President & CEO

For Further Information Please Contact:

Mr. Kiran Patankar
President & CEO
Tel: 604.639.2536
Email: kpatankar@maplegoldmines.com

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS PRESS RELEASE.

Forward Looking Statements:

This press release contains “forward-looking information” and “forward-looking statements” (collectively referred to as “forward-looking statements”) within the meaning of applicable Canadian securities legislation in Canada, including statements about exploration work and results from current and future work programs. Forward-looking statements are based on assumptions, uncertainties and management’s best estimate of future events. Actual events or results could differ materially from the Company’s expectations and projections. Investors are cautioned that forward-looking statements involve risks and uncertainties. Accordingly, readers should not place undue reliance on forward-looking statements. For a more detailed discussion of such risks and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements, refer to Maple Gold Mines Ltd.’s filings with Canadian securities regulators available on www.sedarplus.ca or the Company’s website at www.maplegoldmines.com. The Company does not intend, and expressly disclaims any intention or obligation to, update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/207336

ZyVersa Therapeutics, Inc. (ZVSA) – Inflammation Study Links Alzheimer’s Disease With Chronic Heart Disease

Posted on by cpereira@noblefcm.com


Tuesday, April 30, 2024

Robert LeBoyer, Senior Vice President, Equity Research Analyst, Biotechnology, Noble Capital Markets, Inc.

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

New Study On Inflammasomes Connects Alzheimer’s Disease With Cardiovascular Disease. Research published in a peer-reviewed journal has shown that Alzheimer’s disease produces inflammasome components that can lead a systemic response, including chronic heart disease and stroke. This study links inflammasomes in the brain to inflammation in distant organs, worsening cardiovascular and other chronic diseases.

Alzheimer’s Brains Produces Inflammasome Components That Travel Through the Circulation.  Using models of AD, the study found that parts of the brain had elevated levels of the inflammasome-signaling proteins. When heart ventricles were tested, they also showed significant elevations inflammasome components. Next, serum extracts were administered to cardiovascular cells in culture, resulting in inflammasome activation and significant increases of inflammatory mediators.


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

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

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

Century Lithium Corp. (CYDVF) – Clayton Valley Feasibility Study Sets the Stage for Commercialization

Posted on by cpereira@noblefcm.com


Tuesday, April 30, 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.

Results of the Clayton Valley feasibility study. Century released the results of a feasibility study (FS) for its Clayton Valley lithium project in Nevada. A phased approach was adopted. Phase I and II mining rates of 7,500 tonnes per day and 15,000 tonnes per day, respectively, are maintained over five years each, while the Phase III mining rate of 22,500 tonnes per day is maintained for 30 years. The production plan reflects a life-of-mine average of 34,000 tonnes per year of battery-grade lithium carbonate or 13,000 tonnes and 27,000 tonnes per year during Phases I and II, respectively, and 41,000 tonnes per year during Phase III.

Key assumptions and net present value. Key assumptions include: 1) initial capital expenditures of $1.5 billion, $651 million for Phase II, and $1.3 billion for Phase III, 2) a lithium carbonate price of $24,000 per tonne, 3) average operating cost of $8,223 per tonne of lithium carbonate produced, or $2,766 per tonne after sales of surplus sodium hydroxide, 4) a lithium recovery rate of 78%, and 5) sustaining capital of $315 million over the life of the project. Based on an 8% discount rate, the project is expected to generate an after-tax net present value of $3.01 billion and 17.1% internal rate of return.


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. 

Persistent Price Pressures Erode Consumer Confidence

Posted on by slightbourne@noblecapitalmarkets.com

The latest consumer confidence readings paint a picture of an increasingly pessimistic American consumer, battered by stubborn inflation and growing concerns over the economic outlook. The plunge in sentiment comes at a pivotal time for the Federal Reserve as it grapples with getting price rises under control without sending the economy into a recession.

The Conference Board’s consumer confidence index fell to 97 in April, down sharply from 103.1 in March and marking the lowest level since the souring moods of summer 2022. The dismal April print missed economist estimates of 104 as elevated price pressures, especially for essentials like food and gasoline, weighed heavily on household psyches.

Perhaps more worrying for the economic outlook, consumers also grew markedly more downbeat about the trajectory for business conditions, job availability, and income prospects over the next six months. The expectations index plummeted to levels not seen since last July, with the survey’s written responses making clear that persistent inflation is taking a major toll.

“Elevated price levels, especially for food and gas, dominated consumers’ concerns, with politics and global conflicts as distant runners-up,” according to the Conference Board’s analysis. Consumers earning under $50,000 a year have remained relatively steady in their confidence, while middle- and higher-income households have seen sharper declines.

The gloomy outlook on the economy’s path comes as recent data has offered a mixed bag. Inflation has remained stubbornly high, defying the Fed’s projections for a steady decline. The core Personal Consumption Expenditures (PCE) price index, which strips out volatile food and energy costs and is the Fed’s primary inflation gauge, rose 2.8% over the past year in March.

Not only did that overshoot estimates, but core PCE accelerated to a concerning 4.4% annualized pace in the first quarter. This has cast doubt on the Fed’s ability to wrestle inflation back down to its 2% target in a timely manner using just rate hikes alone.

Fed Chair Jerome Powell acknowledged as much in April, stating “The recent data have clearly not given us greater confidence and instead indicate that it’s likely to take longer than expected to achieve that confidence” that inflation is sustainably moving back to 2%.

This means the Fed’s fight against inflation is likely to grind on for longer, with interest rates projected to remain elevated well into 2024 and potentially longer. The federal funds rate currently sits in a range of 5-5.25% after over a year of aggressive rate hikes by the central bank.

While higher borrowing costs have slowed some sectors like housing and manufacturing, the impacts on services inflation and consumer prices have lagged. Consequently, the risk of overtightening by the Fed and precipitating a recession rises with each stubbornly high inflation print.

Complicating the outlook, first quarter GDP growth came in at a sluggish 1.6% annualized pace, missing estimates of 2.5% expansion. The deceleration from 3.4% growth in Q4 has sparked fears that excessive Fed tightening is already dragging on the economy.

This weakening backdrop is likely amplifying consumer unease over the potential for job losses and income hits, sapping the willingness to spend freely. While household balance sheets remain solid overall from the pandemic recovery, the renewed bout of pessimism bears close watching as consumer spending accounts for over two-thirds of economic activity.

The Fed now faces a tricky challenge in quelling the inflation psychology that has taken hold without crashing growth entirely. Restoring price stability will require keeping monetary conditions tight for some time and accepting the economic pain that entails. But if consumer spirits remain depressed for too long, the subsequent pullback in spending could exacerbate any potential downturn. Threading that needle will be one of the central bank’s toughest tasks this year.

The AI Revolution is Here: How to Invest in Big Tech’s Bold AI Ambitions

Posted on by slightbourne@noblecapitalmarkets.com

The artificial intelligence (AI) revolution has arrived, and big tech titans are betting their futures on it. Companies like Alphabet (Google), Microsoft, Amazon, Meta (Facebook), and Nvidia are pouring billions into developing advanced AI models, products, and services. For investors, this AI arms race presents both risks and immense opportunities.

AI is no longer just a buzzword – it is being infused into every corner of the tech world. Google has unveiled its AI chatbot Bard and AI search capabilities. Microsoft has integrated AI into its Office suite, email, browsing, and cloud services through an investment in OpenAI. Amazon’s Alexa and cloud AI services continue advancing. Meta is staking its virtual reality metaverse on generative AI after stumbles in social media. And Nvidia’s semiconductors have become the powerhouse engines driving most major AI systems.

The potential scope of AI to disrupt industries and create new products is staggering. Tech executives speak of AI as representing a tectonic shift on par with the internet itself. Beyond consumer services, AI applications could revolutionize fields like healthcare, scientific research, logistics, cybersecurity, and automation of routine tasks. The market for AI software, hardware, and services is projected to explode from around $92 billion in 2021 to over $1.5 trillion by 2030, according to GrandViewResearch estimates.

However, realizing this AI future isn’t cheap. Tech giants are locked in an AI spending spree, diverting resources from other business lines. Capital expenditures on computing power, AI researchers, and data are soaring into the tens of billions. Between 2022 and 2024, Alphabet’s AI-focused capex spending is projected to increase over 50% to around $48 billion per year. Meta recently warned investors it will “invest significantly more” into AI models and services over the coming years, even before generating revenue from them.

With such massive upfront investments required, the billion-dollar question is whether big tech’s AI gambles will actually pay off. Critics argue the current AI models remain limited and over-hyped, with core issues like data privacy, ethics, regulation, and potential disruptions still unresolved. The path to realizing the visionary applications touted by big tech may be longer and more arduous than anticipated.

For investors, therein lies both the risk and the opportunity with AI in the coming years. The downside is that profitless spending on AI R&D could weigh on earnings for years before any breakthroughs commercialize. This could pressure stock multiples for companies like Meta that lack other growth drivers. Major AI misses or public blunders could crush stock prices.

However, the upside is that companies driving transformative AI applications could see their growth prospects supercharged in lucrative new markets and business lines. Those becoming AI leaders in key fields and consumer services may seize first-mover advantages that enhance their competitive moats for decades. For long-term investors able to stomach volatility, getting in early on the next Amazon, Google, or Nvidia of the AI era could yield generational returns.

With hundreds of billions in capital flowing into big tech’s AI ambitions, investors would be wise to get educated on this disruptive trend shaping the future. While current AI models like ChatGPT capture imaginations, the real money will accrue to those companies pushing the boundaries of what AI can achieve into its next frontiers. Monitoring which tech companies demonstrate viable, revenue-generating AI use cases versus those with just empty hype will be critical for investment success. The AI revolution represents big risks – but also potentially huge rewards for those invested in its pioneers.