Page 249 – Channelchek

Release – Xcel Brands Announces Participation In Noble Capital Markets C-Suite Interview Series

Posted on February 20, 2024February 20, 2024 by aweinsoff@channelchek.com

Research News and Marketing Data on XELB

February 20, 2024 at 8:00 AM EST

NEW YORK, Feb. 20, 2024 (GLOBE NEWSWIRE) — Xcel Brands, Inc. (NASDAQ: XELB), a media and consumer products company with expertise in livestream shopping and social commerce, announced their participation in Noble Capital Markets’ C-Suite Interview Series, presented by Channelchek.

Xcel Brands CEO, Robert D’Loren, sat down with Noble Capital Markets Senior Research, Michael Kupinski, for this exclusive two-part series. Topics covered include:

Part one, Xcel Brands CEO Robert D’Loren provides a corporate overview, discussing Xcel’s core business model, their brands, key revenue figures, current financial outlook, and their new e-commerce platform, ORME. Learn more on Xcel Brands here.
Part two highlights the launch of ORME, a next generation short form video marketplace, which will become a game changer in the social influencer marketplace. Learn more on ORME here.

The interview was recorded on February 1, 2024, and is available now on Channelchek.

About Xcel Brands

Xcel Brands, Inc. (NASDAQ: XELB) is a media and consumer products company engaged in the design, marketing, live streaming, social commerce sales of branded apparel, footwear, accessories, fine jewelry, home goods and other consumer products, and the acquisition of dynamic consumer lifestyle brands. Xcel was founded in 2011 with a vision to reimagine shopping, entertainment, and social media as one thing. Xcel owns the Judith Ripka, Halston, LOGO by Lori Goldstein, and C. Wonder by Christian Siriano brands and a minority stake in the Isaac Mizrahi brand. It also owns and manages the Longaberger brand through its controlling interest in Longaberger Licensing LLC and a 50% interest in a JV in TWRHLL (“Tower Hill”) by Christie Brinkley. Xcel is pioneering a true modern consumer products sales strategy which includes the promotion and sale of products under its brands through interactive television, digital live-stream shopping, social commerce, brick-and-mortar retail, and e-commerce channels to be everywhere its customer’s shop. The company’s brands have generated in excess of $4 billion in retail sales via livestreaming in interactive television and digital channels alone. Headquartered in New York City, Xcel Brands is led by an executive team with significant live streaming, production, merchandising, design, marketing, retailing, and licensing experience, and a proven track record of success in elevating branded consumer products companies. www.xcelbrands.com.

About ORME

ORME is based in New York and is a next generation short form video marketplace inspiring our users through honest and authentic content created by shoppers, creators, influencers and brands wherever they create, watch, listen, connect and socialize in the digital universe. ORME was cofounded by Xcel Brands and KonnectBio, Inc.

ORME is committed to evolving through innovations in technology including the major application of AI, making deep connections with our users and community and providing opportunity to all in the retail commerce flywheel. ORME makes the everyday shopper a paid influencer. www.ormelive.com

About Noble Capital Markets

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

About Channelchek

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

Source: Xcel Brands, Inc

Release – Kratos Orders Nine Zeus 1 and Zeus 2 Rocket Motors in Preparation for Initial Customer Funded Flights

Posted on February 20, 2024February 20, 2024 by aweinsoff@channelchek.com

Research News Market Data on KTOS

February 20, 2024 at 8:00 AM EST

PDF Version

ZEUS 1 Static Fire

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/caf8484b-861c-4384-9be9-292269a2f75a

SAN DIEGO, Feb. 20, 2024 (GLOBE NEWSWIRE) — Kratos Defense & Security Solutions, Inc. (Nasdaq: KTOS), a Technology Company in Defense, National Security and Global Markets announced today that its Space & Missile Defense (SMDS) business unit has ordered a combined total of nine new Zeus 1 and Zeus 2 rocket motors in preparation for upcoming initial customer funded flights. The Kratos developed Zeus family of Solid Rocket Motors (SRMs) is in direct response to the urgent need for affordable commercial launch vehicle stages for hypersonic test, ballistic missile target, sounding rocket and “other” customer missions. SMDS applied its significant experience to establish the Zeus 1 and Zeus 2 motor requirements and specifications in close coordination with respective customer and user communities. Kratos, through internal investments, funded development of the Zeus SRMs which are designed and manufactured to Kratos’ specifications by key merchant supplier and partner, Aerojet Rocketdyne.

The Kratos Zeus 1 and Zeus 2 SRMs provide substantial performance improvements over similar legacy and heritage SRMs within the same relevant form factor, allowing existing vehicle designs and launch infrastructure to remain unchanged while also promoting rapid integration of leading technology systems and payloads, including those currently under development by Kratos. These and other key attributes will provide Kratos’ customers opportunities to fly more often, faster and farther, using fewer stages, at a substantially reduced cost.

The Zeus 1 and Zeus 2 are high-performance 32.5-inch diameter SRMs, designed with versatility and affordability in mind as a complement to Kratos’ internally funded investments in the Erinyes hypersonic test “flyer” that is expected to debut later this year. Kratos Zeus SRMs will also complement Kratos’ internally funded, follow-on Dark Fury hypersonic system, which nature and performance characteristics are highly classified. These Kratos investments in the hypersonic and other relevant areas create a versatile family of test, evaluation and “other” products that offer complete systems, SRMs, and flyers. With the Zeus SRMs, and the Erinyes, Dark Fury, and other Kratos front ends, Kratos is one of the only companies boasting both launcher and “Flyer” systems within one organization, providing unmatched innovation, disruptive capabilities, mission responsiveness and affordability to the customer.

Dave Carter, President of Kratos Defense & Rocket Support Services Division, said, “The Kratos Zeus family of SRMs is representative of our strategy to internally fund, rapidly develop, be first to market and field affordable, relevant systems to the United States Department of Defense and our Allies. At Kratos, affordability is a technology, and the low cost of these incredibly effective, high-performance systems, is driving significant interest from the relevant customer and user communities, as represented by this initial order of Zeus SRMs.”

Eric DeMarco, President and CEO of Kratos, said, “Kratos Zeus family of SRMs demonstrates our internally funded investment strategy of delivering relevant products and systems, not power points or renditions, to the National Security market. Kratos Zeus family of motors, similar to other Kratos systems, including tactical drones like Valkyrie, our Oriole rocket, and our hypersonic flyers Erinyes and Dark Fury, are not only rapidly developed and demonstrated, but are also engineered up front for affordable mass production at quantity, an additional Kratos differentiator and value enhancer for our government customers and also for our traditional prime system integrator partners.”

About Kratos Defense & Security Solutions
Kratos Defense & Security Solutions, Inc. (NASDAQ: KTOS) is a technology, products, system and software company addressing the defense, national security, and commercial markets. Kratos makes true internally funded research, development, capital and other investments, to rapidly develop, produce and field solutions that address our customers’ mission critical needs and requirements. At Kratos, affordability is a technology, and we seek to utilize proven, leading edge approaches and technology, not unproven bleeding edge approaches or technology, with Kratos’ approach designed to reduce cost, schedule and risk, enabling us to be first to market with cost effective solutions. We believe that Kratos is known as an innovative disruptive change agent in the industry, a company that is an expert in designing products and systems up front for successful rapid, large quantity, low cost future manufacturing which is a value add competitive differentiator for our large traditional prime system integrator partners and also to our government and commercial customers. Kratos intends to pursue program and contract opportunities as the prime or lead contractor when we believe that our probability of win (PWin) is high and any investment required by Kratos is within our capital resource comfort level. We intend to partner and team with a large, traditional system integrator when our assessment of PWin is greater or required investment is beyond Kratos’ comfort level. Kratos’ primary business areas include virtualized ground systems for satellites and space vehicles including software for command & control (C2) and telemetry, tracking and control (TT&C), jet powered unmanned aerial drone systems, hypersonic vehicles and rocket systems, propulsion systems for drones, missiles, loitering munitions, supersonic systems, space craft and launch systems, C5ISR and microwave electronic products for missile, radar, missile defense, space, satellite, counter UAS, directed energy, communication and other systems, and virtual & augmented reality training systems for the warfighter. For more information, visit www.KratosDefense.com

Notice Regarding Forward-Looking Statements
Certain statements in this press release may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are made on the basis of the current beliefs, expectations and assumptions of the management of Kratos and are subject to significant risks and uncertainty. Investors are cautioned not to place undue reliance on any such forward-looking statements. All such forward-looking statements speak only as of the date they are made, and Kratos undertakes no obligation to update or revise these statements, whether as a result of new information, future events or otherwise. Although Kratos believes that the expectations reflected in these forward-looking statements are reasonable, these statements involve many risks and uncertainties that may cause actual results to differ materially from what may be expressed or implied in these forward-looking statements. For a further discussion of risks and uncertainties that could cause actual results to differ from those expressed in these forward-looking statements, as well as risks relating to the business of Kratos in general, see the risk disclosures in the Annual Report on Form 10-K of Kratos for the year ended December 31, 2023, and in subsequent reports on Forms 10-Q and 8-K and other filings made with the SEC by Kratos.

Kratos Press Contact:
Yolanda White
858-812-7302 Direct

Kratos Investor Information:
877-934-4687
investor@kratosdefense.com

Kratos Defense & Security (KTOS) – A Multitude of Opportunity

Posted on February 20, 2024February 20, 2024 by cpereira@noblefcm.com

Tuesday, February 20, 2024

Kratos Defense & Security Solutions, Inc. (NASDAQ:KTOS) develops and fields transformative, affordable technology, platforms, and systems for United States National Security related customers, allies, and commercial enterprises. Kratos is changing the way breakthrough technologies for these industries are rapidly brought to market through proven commercial and venture capital backed approaches, including proactive research, and streamlined development processes. At Kratos, affordability is a technology, and we specialize in unmanned systems, satellite communications, cyber security/warfare, microwave electronics, missile defense, hypersonic systems, training and combat systems and next generation turbo jet and turbo fan engine development. For more information go to www.kratosdefense.com.

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.

Review. We reviewed the Company’s 10-K filing as well as went through the conference call transcript again. Both highlight the tremendous amount of opportunity available to the Company. Opportunity that we believe will begin to be realized this year and lead to improved operating performance.

A Key Change. While Kratos always has been open to partnering with prime contractors, the 10-K highlights, in our view, a mindset change in such partnerships. Kratos now will be more willing to enter such partnerships in all areas of the Company’s business when management’s assessment of the opportunities indicates such a partnership is the most favorable opportunity.

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This 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.

Kelly Services (KELYA) – Transformation Continued in the Fourth Quarter; Raising PT to $27

Posted on February 20, 2024February 20, 2024 by cpereira@noblefcm.com

Tuesday, February 20, 2024

Kelly (Nasdaq: KELYA, KELYB) connects talented people to companies in need of their skills in areas including Science, Engineering, Education, Office, Contact Center, Light Industrial, and more. We’re always thinking about what’s next in the evolving world of work, and we help people ditch the script on old ways of thinking and embrace the value of all workstyles in the workplace. We directly employ nearly 350,000 people around the world and connect thousands more with work through our global network of talent suppliers and partners in our outsourcing and consulting practice. Revenue in 2021 was $4.9 billion. Visit kellyservices.com and let us help with what’s next for you.

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.

4Q23 Results. Kelly reported revenue of $1,232.2 million, essentially flat y-o-y and down just 1.3% on a constant currency basis. We had estimated $1,220 million. Adjusted net income was $34.1 million or EPS of $0.93, compared to $7 million, or $0.18/sh last year. We had estimated EPS of $0.56. Adjusted EBITDA was $32.5 million, or a 2.6% margin, up from $24.1 million and 2%, respectively, last year. We had forecast $33.8 million.

International Sale. As previously announced, Kelly completed the sale of its International staffing business in early January. This business generated some $810 million of revenue and $120 million of gross profit in 2023.

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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).

EuroDry (EDRY) – Strong results on the heels of fleet expansion and shipping rate improvement

Posted on February 20, 2024February 20, 2024 by cpereira@noblefcm.com

Tuesday, February 20, 2024

EuroDry Ltd. was formed on January 8, 2018 under the laws of the Republic of the Marshall Islands to consolidate the drybulk fleet of Euroseas Ltd. into a separate listed public company. EuroDry was spun-off from Euroseas Ltd. on May 30, 2018; it trades on the NASDAQ Capital Market under the ticker EDRY. EuroDry operates in the dry cargo, drybulk shipping market. EuroDry’s operations are managed by Eurobulk Ltd., an ISO 9001:2008 and ISO 14001:2004 certified affiliated ship management company and Eurobulk (Far East) Ltd. Inc., which are responsible for the day- to-day commercial and technical management and operations of the vessels. EuroDry employs its vessels on spot and period charters and under pool agreements.

Michael Heim, Senior Vice President, Equity Research Analyst, Energy & Transportation, Noble Capital Markets, Inc.

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

Revenues improve with the addition of vessels and higher shipping rates. EuroDry took possession of three ships during the quarter and put them into service, resulting in additional operating days. The average shipping rate of $14.570 rose 20% quarter over quarter. EuroDry continues to be the most sensitive to rate changes of all the shipping companies we follow.

Expenses went up with more ships, but costs per operating day were flat. Vessel operating and depreciation costs rose with an increase in voyage days. Vessel operating costs per voyage day were $5,421 in the most recent quarter versus $5,343 in the previous quarter and $5,366 in the same period last year. Financing costs rose with the issuance of $32.5 million to finance the acquisition of vessels.

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

Why the Mining Sector Looks Poised for a Major Breakout

Posted on February 16, 2024February 20, 2024 by slightbourne@noblecapitalmarkets.com

The mining sector has experienced boom and bust cycles throughout history, but current trends suggest we may be entering a new era of growth and opportunity. With the world transitioning to clean energy and electric vehicles, demand is surging for key minerals like lithium, cobalt, nickel and copper. This creates an attractive investment case for the mining sector.

Historic Trends

Looking back, the mining industry has gone through periods of rapid expansion and painful contraction. During economic expansions and commodity bull markets, mining companies ramp up exploration, development and production to capitalize on high prices. This leads to oversupply and when demand eventually weakens, the cycle turns downward.

We saw this play out in dramatic fashion over the past decade. High prices in the 2000s encouraged massive investment in new mines and supply capacity. But when Chinese growth began to slow around 2012, demand weakened and prices collapsed. The mining sector was forced to drastically cut back on production and capital investment.

Many mining companies barely stayed afloat during this bust period. But this reduction in supply helped set the stage for the next upcycle. Now, after years of underinvestment, mines are depleting reserves faster than they are being replenished. With commodity demand picking up again, conditions are ripe for the next mining boom.

Current Market Trends

Several key trends suggest we are now in the early stages of a new mining upcycle:

Electric vehicle revolution – EV adoption is accelerating around the world, dramatically increasing demand for lithium, cobalt, nickel, copper and other key minerals. Total EV sales increased 70% in 2021 and are projected to rise more than 5-fold by 2030. This will require a massive increase in mineral supply.
Renewable energy expansion – Solar, wind and other renewables are seeing surging growth as countries aim to cut carbon emissions. This further increases metals demand for batteries, transmission lines, wiring and other components.
Supply chain vulnerabilities – The pandemic and geopolitics have exposed risks of relying on a few key countries for critical mineral supply. Governments are now focused on developing domestic mining capacity to ensure supply security.
Decarbonization efforts – Reaching net zero emissions will require a staggering volume of minerals for clean energy infrastructure buildout. Models estimate needing 30 times more lithium and 15 times more cobalt by 2040.

These trends all point to a pending boom in mining investment and production. The demand outlook has fundamentally shifted in a more positive direction.

Take a moment to take a look at emerging growth natural resources, metals and mining companies by looking at Noble Capital Markets’ Senior Research Analyst Mark Reichman’s coverage list.

Investment Opportunities

For investors, this macro backdrop presents an opportunity to capitalize on the coming mining supercycle. Some ways to gain exposure include:

Lithium mining stocks – Lithium prices have skyrocketed 10-fold in the past two years as demand for electric vehicle batteries has soared. Leading lithium miners like Albemarle, SQM and Livent are seeing their earnings multiply. They are investing heavily to aggressively expand production capacity to ride the lithium boom. Their stocks still may have substantial upside given the tight supply and surging demand forecasts.
Nickel and cobalt miners – Clean energy technologies like batteries require vast amounts of nickel and cobalt. Both metals face looming supply deficits. Miners expanding production such as Glencore, Sherritt International and Giga Metals stand to benefit enormously from surging demand and higher prices over the coming decade. These miners offer some of the best leverage to capitalize on the EV battery revolution.
Copper miners – Copper is essential for global electrification and will be required by the millions of tons for EV charging networks, power grids, wiring and electronics. Leading copper miners like Freeport McMoRan, Southern Copper and First Quantum Minerals offer direct exposure to higher copper prices. Many are expanding production while also paying healthy dividends.
Diversified mining majors – Large diversified miners like BHP, Rio Tinto and Vale mine a broad mix of commodities from copper and iron ore to coal and potash. Their diversification provides stability while still benefiting from the overall minerals boom. These global giants pay some of the highest dividends in the market.
Junior mining stocks – Earlier stage mining companies developing new projects provide extreme upside potential leverage but also greater risk. Conduct thorough due diligence on management track record, finances, permitting status and feasibility studies before investing.
Physical gold and silver – Precious metals like gold and silver can provide a hedge against market volatility. Buying physical coins and bars or investing in ETFs offers exposure. Just a small allocation of 5-10% can help balance a portfolio.
Mining ETFs – Funds like the Global X Lithium ETF (LIT), VanEck Vectors Gold Miners ETF (GDX) and SPDR Metals & Mining ETF (XME) provide diversified exposure to mining stocks and commodities. This simplifies investing in the sector.

With mining poised to boom, investors have many options to position for the coming supercycle. As with any investment, proper due diligence and risk management remain critical. But the macro trends point to a bright future for mining stocks. For investors, now may be the ideal time to position for the coming mining supercycle.

Oil Rallies on Middle East Tensions Despite Questions Over Demand Growth

Posted on February 16, 2024February 16, 2024 by slightbourne@noblecapitalmarkets.com

Oil prices are on track to post gains this week, driven higher by geopolitical tensions in the Middle East despite ongoing concerns about still high inflation and a cloudy demand outlook.

West Texas Intermediate crude futures have risen approximately 2% week-to-date and were trading around $78 per barrel on Friday. Brent crude, the international benchmark, was up 1.8% on the week to $83 per barrel.

According to analysts, speculative traders and funds are bidding up oil futures based on worries that simmering conflicts in the Middle East could disrupt global supplies. Volatility and uncertainty in the region tends to spur speculative trading in oil markets.

“This is geopolitics with flashing flights, it points right to specs taking advantage of the situation,” said Bob Yawger, managing director at Mizuho America. “They’re rolling the dice expecting something will happen.”

Tensions have escalated on the border between Israel and Lebanon after Israel conducted airstrikes in southern Lebanon this week in retaliation for rocket attacks from the area. The powerful Lebanese militia Hezbollah has vowed to strike back against Israel in response.

There are worries the Israel-Lebanon clashes could spread to a wider conflict, potentially including Israel’s ongoing offensive in Gaza. This could disrupt oil production or transit through the critical Suez Canal. The Middle East accounted for nearly 30% of global oil production last year.

Prices Shake Off Demand Worries

Notably, crude prices have shaken off downward pressure this week from stubbornly high inflation as well as forecasts for weaker demand growth in 2024.

US consumer and wholesale inflation reports this week came in hotter than expected. Persistently high inflation reduces the chances of the Federal Reserve pivoting to interest rate cuts this year which could otherwise boost oil demand.

Demand outlooks for 2024 have also been murky. The International Energy Agency (IEA) downwardly revised its 2024 oil demand growth forecast to 1.2 million barrels per day, half of 2023’s pace. It sees supply growth outpacing demand this year.

However, OPEC offered a more bullish view in its latest report, projecting world oil demand will increase by 2.2 million barrels per day in 2024. The cartel sees demand growth exceeding non-OPEC supply growth.

Investors Shake Off Bearish Signals

Given the conflicting demand forecasts, the resilience of oil prices likely reflects investor optimism over tightening fundamentals outweighing potentially bearish signals.

“There is and has been a yawning chasm in demand estimates,” said Tamas Varga, analyst at PVM brokerage. “The difference of opinions in global oil consumption for this year and the individual quarters, even for the current one, is clearly puzzling.”

Ultimately, lingering Middle East geopolitical risks appear to be overshadowing inflation and demand concerns in driving investor sentiment. With tensions still elevated, investors seem positioned for further volatility and potential price spikes on any supply disruptions.

The diverging demand forecasts and data points mean uncertainty persists around whether markets will tighten as much as OPEC expects or remain oversupplied per the IEA outlook. But with inventories still low by historical standards, prices have room to run higher on any bullish shocks.

What’s Next For Oil Markets

Looking ahead, Middle East tensions, China’s reopening, and the extent of Fed rate hikes will be key drivers of oil price trends. Any military escalation or supply disruptions from the Israel-Lebanon tensions could send crude prices spiking higher.

China’s demand recovery as it exits zero-Covid policies will also remain in focus. Signs of China’s crude imports and manufacturing activity reviving could offer a bullish boost to prices.

At the same time, stubborn inflation likely keeps the Fed on track for further rate hikes in the near term. Only clear signs of slowing price growth might promptdiscussion of rate cuts to stimulate growth. For now, Fed policy looks set to weigh on oil demand and limit significant upside.

Overall, investors should brace for continued volatility in oil markets in 2024. While prices may trend higher on tight supplies, lingering demand uncertainties and geo-political tensions look set to drive choppy price action. Nimble investors able to capitalize on price spikes and dips may find opportunities. But those with a lower risk tolerance may wish to stay on the sidelines until fundamentals stabilize.

Release – ACCO Brands Corporation Declares Quarterly Dividend

Posted on February 16, 2024February 16, 2024 by aweinsoff@channelchek.com

Research News and Market Data on ACCO

02/16/2024

LAKE ZURICH, Ill.–(BUSINESS WIRE)– ACCO Brands Corporation (NYSE: ACCO) today announced that its board of directors has declared a quarterly cash dividend of $0.075 per share. The dividend will be paid on March 27, 2024, to stockholders of record as of the close of business on March 15, 2024.

“This is the Company’s 25^th quarterly cash dividend since it began paying dividends in 2018. The Company’s dividend has become an important part of our capital allocation strategy and we remain committed to supporting our quarterly dividend with our robust free cash flow. At the current stock price, on an annualized basis, our shareholders are receiving a 5% yield on their investment,” said Tom Tedford, President, and Chief Executive Officer of ACCO Brands.

About ACCO Brands Corporation

ACCO Brands, the Home of Great Brands Built by Great People, designs, manufactures and markets consumer and end-user products that help people work, learn, play and thrive. Our widely recognized brands include AT-A-GLANCE®, Five Star®, Kensington®, Leitz®, Mead®, PowerA®, Swingline®, Tilibra® and many others. More information about ACCO Brands Corporation (NYSE: ACCO) can be found at www.accobrands.com.

Chris McGinnis
Investor Relations
(847) 796-4320

Kori Reed
Media Relations
(224) 501-0406

Source: ACCO Brands Corporation

The GEO Group (GEO) – Ending the 2023 Fiscal Year on a Good Note

Posted on February 16, 2024February 16, 2024 by cpereira@noblefcm.com

Friday, February 16, 2024

The GEO Group, Inc. (NYSE: GEO) is a leading diversified government service provider, specializing in design, financing, development, and support services for secure facilities, processing centers, and community reentry centers in the United States, Australia, South Africa, and the United Kingdom. GEO’s diversified services include enhanced in-custody rehabilitation and post-release support through the award-winning GEO Continuum of Care®, secure transportation, electronic monitoring, community-based programs, and correctional health and mental health care. GEO’s worldwide operations include the ownership and/or delivery of support services for 103 facilities totaling approximately 83,000 beds, including idle facilities and projects under development, with a workforce of up to approximately 18,000 employees.

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.

4Q23 Results. Revenue for the quarter came in at $608.3 million, compared to $620.7 million a year ago. Adjusted EBITDA totaled $129 million, EPS was $0.21, and adjusted EPS $0.29. In the year ago period, GEO reported $145.5 million, $0.28, and $0.34, respectively. We had forecast $600 million, $119.5 million, $0.19, and $0.19, respectively.

Debt Reduction. For the full year, GEO reduced net debt by some $197 million, ending the year with approximately $1.8 billion of net debt. We expect the Company to continue to reduce net debt by $175-$200 million annually.

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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).

Great Lakes Dredge & Dock (GLDD) – A Solid Fourth Quarter; Backlog Continues to Rise

Posted on February 16, 2024February 16, 2024 by cpereira@noblefcm.com

Friday, February 16, 2024

Great Lakes Dredge & Dock Corporation 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 131-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.

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.

4Q23 Results. Fourth quarter revenue came in at $181.7 million, slightly below our $190 million estimate, due to a delay in some work which has since commenced, but above the $146.7 million in 4Q22. Reported gross margin jumped to 21.3% from a negative last year. Net income came in at $21.6 million, or $0.32/sh, from a loss of $31.2 million, or a loss of $0.47/sh in 4Q22, which was impacted by the write-down of the Terrapin Island. Adjusted EBITDA came in at $40.8 million, up from a $24.2 million loss last year.

Solid Operating Environment. The dredging bid environment remains strong, with proposed increased funding and a number of key capital projects coming to bid in 2024. While the wind and LNG segments are more challenged, we believe both markets will prove fruitful for Great Lakes in the long-term.

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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).

Mortgage Rates Remain Elevated as Inflation Persists

Posted on February 15, 2024February 15, 2024 by slightbourne@noblecapitalmarkets.com

Mortgage rates have climbed over the past year, hovering around 7% for a 30-year fixed rate mortgage. This is significantly higher than the 3% rates seen during the pandemic in 2021. Rates are being pushed higher by several key factors.

Inflation has been the main driver of increased borrowing costs. The consumer price index rose 7.5% in January 2024 compared to a year earlier. While this was down slightly from December, inflation remains stubbornly high. The Federal Reserve has been aggressively raising interest rates to combat inflation. This has directly led to higher mortgage rates.

As the Fed Funds rate has climbed from near zero to around 5%, mortgage rates have followed. Additional Fed rate hikes are expected this year as well, keeping upward pressure on mortgage rates. Though inflation eased slightly in January, it remains well above the Fed’s 2% target. The central bank has signaled they will maintain restrictive monetary policy until inflation is under control. This means mortgage rates are expected to remain elevated in the near term.

Another factor pushing rates higher is the winding down of the Fed’s bond buying program, known as quantitative easing. For the past two years, the Fed purchased Treasury bonds and mortgage-backed securities on a monthly basis. This helped keep rates low by increasing demand. With these purchases stopped, upward pressure builds on rates.

The yield on the 10-year Treasury note also influences mortgage rates. As this yield has climbed from 1.5% to around 4% over the past year, mortgage rates have moved higher as well. Investors demand greater returns on long-term bonds as inflation eats away at fixed income. This in turn pushes mortgage rates higher.

With mortgage rates elevated, the housing market is feeling the effects. Home sales have slowed significantly as higher rates reduce buyer affordability. Prices are also starting to moderate after rapid gains the past two years. Housing inventory is rising while buyer demand falls. This should bring more balance to the housing market after it overheated during the pandemic.

For potential homebuyers, elevated rates make purchasing more expensive. Compared to 3% rates last year, the monthly mortgage payment on a median priced home is around 60% higher at current 7% rates. This prices out many buyers, especially first-time homebuyers. Households looking to move up in home size also face much higher financing costs.

Those able to buy may shift to adjustable rate mortgages (ARMs) to get lower initial rates. But ARMs carry risk as rates can rise substantially after the fixed period. Lower priced homes and smaller mortgages are in greater demand. Refinancing has also dropped off sharply as existing homeowners already locked in historically low rates.

There is hope that mortgage rates could decline later this year if inflation continues easing. However, most experts expect rates to remain above 6% at least through 2024 until inflation is clearly curtailed. This will require the Fed to maintain their aggressive stance. For those able to buy at current rates, refinancing in the future is likely if rates fall. But higher rates look to be the reality for 2024.

Release – Snail Games Enhances Current Game Titles with Exciting New Developments

Posted on February 15, 2024February 15, 2024 by aweinsoff@channelchek.com

Research News and Market Data on SNAL

February 15, 2024 at 8:00 AM EST

CULVER CITY, Calif., Feb. 15, 2024 (GLOBE NEWSWIRE) — Snail, Inc. (Nasdaq: SNAL) (“Snail Games” or “the Company”), a leading, global independent developer and publisher of interactive digital entertainment, announces significant strides with the launch of West Hunt on Nintendo Switch and the introduction of ASA Premium Mods for ARK Survival Ascended. These initiatives underscore Snail Games’ unwavering commitment to continuously improving and enhancing its current portfolio of game titles.

West Hunt on Nintendo Switch

Snail Games’ independent game branch, Wandering Wizard, in collaboration with developing studio New Gen, recently launched West Hunt on Nintendo Switch. This highly anticipated game transports players into the heart of the Wild West, enabling them to embark on manhunts wherever they go. The launch of West Hunt on Nintendo Switch marks a significant milestone in Snail Games’ journey, as it extends the game’s reach beyond Steam into the thriving console gaming community. As players immerse themselves in the role of law-abiding Sheriffs or cunning outlaws, they are invited to experience the Wild West like never before. Snail Games’ commitment to broadening West Hunt’s success on Steam to new platforms exemplifies its dedication to continually growing its current titles.

ASA Premium Mods

Snail Games is also set to introduce ARK Survival Ascended’s Premium Mods program. This innovative initiative revolutionizes the modding landscape by providing unprecedented opportunities for monetization. With one of the most competitive revenue-sharing models in the industry, ARK Survival Ascended’s Premium Mods program ensures that modders are duly recognized and rewarded for their creativity and dedication. Moreover, ASA Premium Mods’ cross-platform compatibility across PC, Xbox, and PlayStation amplifies modders’ reach, enabling them to maximize their earnings and connect with a broader audience. ARK Survival Ascended’s mod program is committed to fostering an environment that encourages innovation, collaboration, and fair compensation for modders. The program aims to be a catalyst for positive change within the modding community, empowering creators to thrive in their craft. The premium mod program has launched on the PC platform with other platforms to follow in time.

“We remain committed to improving and elevating our current portfolio of games, ensuring that every player finds adventure and excitement in our diverse offerings. We embark on these exciting new ventures with our community and partners at the forefront of our strategy,” said Jim Tsai, Chief Executive Officer of Snail Games.

With the launch of West Hunt on Nintendo Switch and the introduction of ASA Premium Mods for ARK Survival Ascended, Snail Games believes that it will continue to lead the way in the gaming industry, driving forward its vision of innovation and growth.

For more information, visit Snail Games.

About Snail, Inc.

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

About Wandering Wizard

Wandering Wizard is passionately committed to championing indie game developers. We provide a platform for fresh voices, revolutionary ideas, and daring experiments within the indie gaming realm. Embracing the inherent risks of indie game development, we partner with creators worldwide to enrich the global gaming community with inclusive, inspiring, and innovative gaming experiences.

Forward-Looking Statements

This press release contains statements that constitute forward-looking statements. Many of the forward-looking statements contained in this press release can be identified by the use of forward-looking words such as “anticipate,” “believe,” “could,” “expect,” “should,” “plan,” “intend,” “may,” “predict,” “continue,” “estimate” and “potential,” or the negative of these terms or other similar expressions. Forward-looking statements appear in a number of places in this press release and include, but are not limited to, statements regarding Snail’s intent, belief or current expectations. These forward-looking statements include information about possible or assumed future results of Snail’s business, financial condition, results of operations, liquidity, plans and objectives. The statements Snail makes regarding the following matters are forward-looking by their nature: growth prospects and strategies; launching new games and additional functionality to games that are commercially successful, including the launch of ARK: Survival Ascended, ARK: The Animated Series and ARK 2; expectations regarding significant drivers of future growth; its ability to retain and increase its player base and develop new video games and enhance existing games; competition from companies in a number of industries, including other game developers and publishers and both large and small, public and private Internet companies; its relationships with third-party platforms such as Xbox Live and Game Pass, PlayStation Network, Steam, Epic Games Store, the Apple App Store, the Google Play Store, My Nintendo Store and the Amazon Appstore; expectations for future growth and performance; and assumptions underlying any of the foregoing.

Contacts:

Investors:

investors@snail.com

Press:

media@snail.com

Release – SHE Media Launches Strategic Partnership with Direct Digital Holdings’ Colossus SSP to Increase Advertiser Access to a Powerful Female Audience

Posted on February 15, 2024February 15, 2024 by aweinsoff@channelchek.com

Research News and Market Data on DRCT

February 15, 2024 8:00 am EST

Colossus SSP’s Inclusive Marketplace Approach to Further Advance SHE Media’s Work in Fueling Growth of Women-Owned & Diverse-Owned Properties

HOUSTON and NEW YORK, Feb. 15, 2024 /PRNewswire/ — Direct Digital Holdings, Inc. (Nasdaq: DRCT) (“Direct Digital Holdings” or the “Company”), a leading advertising and marketing technology platform operating through its companies Colossus Media, LLC (“Colossus SSP”), Huddled Masses, LLC (“Huddled Masses”) and Orange142, LLC (“Orange142”), announced today that SHE Media, the top 10 lifestyle media group that includes SheKnows, Flow Space, StyleCaster, Soaps and BlogHer, has selected Colossus SSP as a new supply-side platform partner. Colossus SSP has a strong track-record in connecting advertisers with a truly inclusive audience, at scale, tapping into a range of multicultural / diverse publishers, as well as top-tier general market media.

Colossus SSP will serve as a programmatic exchange sell-side partner for SHE Media’s flagship brands and other properties, all of which are focused on providing useful and inspiring high-quality content for women, reaching a total audience of 74+ million users per month[1]. Key to the partnership, Colossus SSP will provide access to inventory across SHE Media’s Meaningful Marketplaces – a robust community of independent, premium, women-owned and diverse-owned publishers that SHE Media assists with monetization, operations and educational services.

“The tens of millions of women that visit SHE Media properties and engage with its content are a tremendous asset to advertisers across category sectors,” said Mark D. Walker, CEO and Co-Founder, Direct Digital Holdings. “Not only do women represent more than half of the U.S. population, they are responsible for 85 percent of the day-to-day spending decisions and 80 percent of all healthcare choices for the family. Partnering with SHE Media will open Colossus SSP’s pipeline of advertisers to this valuable audience. In addition, it’s an honor to work with a company that also champions inclusivity across the media and marketing ecosystem.”

“SHE Media’s strategic partnership with Direct Digital Holding’s Colossus SSP will further solidify both companies’ deep-seated commitment to the economic growth of women-owned and diverse-owned media,” said Kate Calabrese, SVP, Media Solutions, SHE Media. “This integration will deliver an additional pathway to match advertisers with both the audiences they intend to reach and with the independent publishers whose businesses they are dedicated to support.”

“We are excited to be working with SHE Media because it is such a perfect fit for Colossus SSP. Their dynamic female-focused content and coveted female audience are very much aligned with the needs of the advertisers that we serve,” added Lashawnda Goffin, CEO, Colossus SSP.

Forward-Looking Statements
This press release may contain forward-looking statements within the meaning of federal securities laws, including the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and which are subject to certain risks, trends and uncertainties.

As used below, “we,” “us,” and “our” refer to Direct Digital Holdings. We use words such as “could,” “would,” “may,” “might,” “will,” “expect,” “likely,” “believe,” “continue,” “anticipate,” “estimate,” “intend,” “plan,” “project” and other similar expressions to identify forward-looking statements, but not all forward-looking statements include these words. All statements contained in this release that do not relate to matters of historical fact should be considered forward-looking statements.

All of our forward-looking statements involve estimates and uncertainties that could cause actual results to differ materially from those expressed in or implied by the forward-looking statements. Our forward-looking statements are based on assumptions that we have made in light of our industry experience and our perceptions of historical trends, current conditions, expected future developments and other factors we believe are appropriate under the circumstances. Although we believe that these forward-looking statements are based on reasonable assumptions, many factors could affect our actual operating and financial performance and cause our performance to differ materially from the performance expressed in or implied by the forward-looking statements, including, but not limited to: our dependence on the overall demand for advertising, which could be influenced by economic downturns; any slow-down or unanticipated development in the market for programmatic advertising campaigns; the effects of health epidemics, such as the ongoing global COVID-19 pandemic; operational and performance issues with our platform, whether real or perceived, including a failure to respond to technological changes or to upgrade our technology systems; any significant inadvertent disclosure or breach of confidential and/or personal information we hold, or of the security of our or our customers’, suppliers’ or other partners’ computer systems; any unavailability or non-performance of the non-proprietary technology, software, products and services that we use; unfavorable publicity and negative public perception about our industry, particularly concerns regarding data privacy and security relating to our industry’s technology and practices, and any perceived failure to comply with laws and industry self-regulation; restrictions on the use of third-party “cookies,” mobile device IDs or other tracking technologies, which could diminish our platform’s effectiveness; any inability to compete in our intensely competitive market; any significant fluctuations caused by our high customer concentration; any violation of legal and regulatory requirements or any misconduct by our employees, subcontractors, agents or business partners; any strain on our resources, diversion of our management’s attention or impact on our ability to attract and retain qualified board members as a result of being a public company; our dependence, as a holding company, of receiving distributions from Direct Digital Holdings, LLC to pay our taxes, expenses and dividends; and other factors and assumptions discussed in the “Risk Factors,” “Management’s Discussion and Analysis of Financial Conditions and Results of Operations” and other sections of our filings with the SEC that we make from time to time. Should one or more of these risks or uncertainties materialize or should any of these assumptions prove to be incorrect, our actual operating and financial performance may vary in material respects from the performance projected in these forward-looking statements. Further, any forward-looking statement speaks only as of the date on which it is made, and except as required by law, we undertake no obligation to update any forward-looking statement contained in this release to reflect events or circumstances after the date on which it is made or to reflect the occurrence of anticipated or unanticipated events or circumstances, and we claim the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995.

About SHE Media
As a top 10 lifestyle media company reaching 74+ million monthly visitors, SHE Media focuses on the power of content and community to move our culture forward. SHE Media believes that media companies can and should be a force for good in the world. The company’s rich editorial ranges from health, food, and family to career and entertainment. SHE Media’s flagship brands, SheKnows, Flow Space, StyleCaster, Soaps and BlogHer, produce award-winning lifestyle content and events that reflect the passion and purpose of the company. In addition to the flagship brands, the SHE Media Collective supports thousands of independent publishers and content creators with technology, education, and monetization opportunities to grow their businesses.

SHE Media has a longstanding commitment to the advancement of equity and inclusion through media. In 2021, SHE Media launched Meaningful Marketplaces enabling advertisers to buy media at scale from a community of women and minority-owned publishers, ensuring that independent media receives the economic support to thrive. SHE Media is also dedicated to advancing women’s health. In 2023, SHE Media launched Flow Space, an all-new digital and live media platform providing content, community, and commerce in service of women’s whole life health. Part of Penske Media Corporation (PMC), SHE Media is based in New York, with offices in Los Angeles. Follow SHE Media on LinkedIn, Instagram, Facebook and Twitter.

About Direct Digital Holdings
Direct Digital Holdings (Nasdaq: DRCT), owner of operating companies Colossus SSP, Huddled Masses, and Orange 142, brings state-of-the-art sell- and buy-side advertising platforms together under one umbrella company. Direct Digital Holdings’ sell-side platform, Colossus SSP, offers advertisers of all sizes extensive reach within general market and multicultural media properties. The Company’s subsidiaries Huddled Masses and Orange142 deliver significant ROI for middle market advertisers by providing data-optimized programmatic solutions at scale for businesses in sectors that range from energy to healthcare to travel to financial services. Direct Digital Holdings’ sell- and buy-side solutions manage on average over 125,000 clients monthly, generating over 300 billion impressions per month across display, CTV, in-app and other media channels.

Media Contacts

For Direct Digital Holdings:
press@directdigitalholdings.com

For SHE Media:
Brooke Jaffe, SVP Public Affairs & Strategy, bjaffe@pmc.com
Abby Kalicka, Senior Director of Communications, akalicka@pmc.com

¹ (Source: ComScore, SHE Media Multiplatform Key Measures March 2023)

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SOURCE Direct Digital Holdings

Released February 15, 2024