Technology Archives - Page 3 of 20

Release – SKYX Secures $11 Million Strategic Investment at $2.00 Per Share, Preferred Stock Convertible, Led by Global Marriott Hotel-Chain Developer, Lance Shaner, Owner of over 60 Hotels, Primarily Marriotts

Posted on October 7, 2024October 7, 2024 by aweinsoff@channelchek.com

Management Emphasizes That It Has Sufficient Cash to Achieve Its Goals Including Recently Announced Collaborations and Being Cash Flow Positive During 2025

The $11 Million Investment includes Leading Builders and Hotel Developers

MIAMI, Oct. 07, 2024 (GLOBE NEWSWIRE) — SKYX Platforms Corp. (NASDAQ: SKYX) (d/b/a SKYX Technologies) (the “Company” or “SKYX”), a highly disruptive smart platform technology company with more than 97 issued and pending patents globally and over 60 lighting and home décor websites, today announced the completion of a strategic investment of $11 million of a new class of preferred stock in SKYX, with a conversion price of $2.00 per common share, with an 8% annual dividend, led by Lance Shaner, Chairman & CEO of Shaner Hotel Group, joined by other strategic and key SKYX investors.

Mr. Shaner said, “I clearly recognize SKYX’s extreme value proposition for hotels, buildings, and homes, and its significant global growth opportunity. I am now aligned to participate as a significant long term minded SKYX investor. I strongly believe that SKYX’s game-changing advanced and smart platform technologies will make hotels, buildings, and homes, advanced, smart, and safe instantly, while saving cost, time, and lives.”

Steve Schmidt, President of SKYX, said, “We are truly excited about this strategic investment, led by a Marriott global hotel chain developer such as Lance Shaner. This represents another significant confirmation of our value proposition for hotels, buildings, and homes, while enhancing our cash position to support our continuing growth including our recent collaborations with U.S. and world leading companies.”

Rani Kohen, Founder and Executive Chairman of SKYX, said, “We are thrilled to have Mr. Shaner as a strategic lead investor, as he contributes vast multi-faceted business experience including in community and hospitality developments. His experience and reputation not only represent success, but his involvement also provides continued validation and a major stamp of approval that SKYX’s advanced and smart technologies are game-changing for buildings, hotels, and homes.”

About Shaner Hotels

Headquartered in State College, Pa., Shaner Hotels is one of the foremost owner-operator companies in the hospitality industry with more than $1 billion invested in 60 hotel properties owned and managed across the U.S., Italy, Greece and the Bahamas. Over the past 40 years, the company has also been engaged in both new development and redevelopment of more than 80 hotel projects with leading brand affiliations such as Marriott International, InterContinental Hotels, Choice Hotels and Hilton. New properties are constantly evaluated as Shaner Hotels continues a conservative yet opportunistic approach to growth. For more information about the company and its divisions visit shanercorp.com.

About SKYX Platforms Corp.

As electricity is a standard in every home and building, our mission is to make homes and buildings become safe-advanced and smart as the new standard. SKYX has a series of highly disruptive advanced-safe-smart platform technologies, with over 97 U.S. and global patents and patent pending applications. Additionally, the Company owns over 60 lighting and home decor websites for both retail and commercial segments. Our technologies place an emphasis on high quality and ease of use, while significantly enhancing both safety and lifestyle in homes and buildings. We believe that our products are a necessity in every room in both homes and other buildings in the U.S. and globally. For more information, please visit our website at https://skyplug.com/ or follow us on LinkedIn.

Forward-Looking Statements

Certain statements made in this press release are not based on historical facts but are forward-looking statements. These statements can be identified by the use of forward-looking terminology such as “aim,” “anticipate,” “believe,” “can,” “could,” “continue,” “estimate,” “expect,” “evaluate,” “forecast,” “guidance,” “intend,” “likely,” “may,” “might,” “objective,” “ongoing,” “outlook,” “plan,” “potential,” “predict,” “probable,” “project,” “seek,” “should,” “target” “view,” “will,” or “would,” or the negative thereof or other variations thereon or comparable terminology, although not all forward-looking statements contain these words. These statements reflect the Company’s reasonable judgment with respect to future events and are subject to risks, uncertainties and other factors, many of which have outcomes difficult to predict and may be outside our control, that could cause actual results or outcomes to differ materially from those in the forward-looking statements. Such risks and uncertainties include statements relating to the Company’s ability to successfully launch, commercialize, develop additional features and achieve market acceptance of its products and technologies and integrate its products and technologies with third-party platforms or technologies; the Company’s efforts and ability to drive the adoption of its products and technologies as a standard feature, including their use in homes, hotels, offices and cruise ships; the Company’s ability to capture market share; the Company’s estimates of its potential addressable market and demand for its products and technologies; the Company’s ability to raise additional capital to support its operations as needed, which may not be available on acceptable terms or at all; the Company’s ability to continue as a going concern; the Company’s ability to execute on any sales and licensing or other strategic opportunities; the possibility that any of the Company’s products will become National Electrical Code (NEC)-code or otherwise code mandatory in any jurisdiction, or that any of the Company’s current or future products or technologies will be adopted by any state, country, or municipality, within any specific timeframe or at all; risks arising from mergers, acquisitions, joint ventures and other collaborations; the Company’s ability to attract and retain key executives and qualified personnel; guidance provided by management, which may differ from the Company’s actual operating results; the potential impact of unstable market and economic conditions on the Company’s business, financial condition, and stock price; and other risks and uncertainties described in the Company’s filings with the Securities and Exchange Commission, including its periodic reports on Form 10-K and Form 10-Q. There can be no assurance as to any of the foregoing matters. Any forward-looking statement speaks only as of the date of this press release, and the Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by U.S. federal securities laws.

Investor Relations Contact:

Jeff Ramson

PCG Advisory

jramson@pcgadvisory.com

Information Services Group (III) – Sharper Focus with Automation Sale

Posted on October 4, 2024October 4, 2024 by cpereira@noblefcm.com

Friday, October 04, 2024

ISG (Information Services Group) (Nasdaq: III) is a leading global technology research and advisory firm. A trusted business partner to more than 700 clients, including more than 75 of the world’s top 100 enterprises, ISG is committed to helping corporations, public sector organizations, and service and technology providers achieve operational excellence and faster growth. The firm specializes in digital transformation services, including automation, cloud and data analytics; sourcing advisory; managed governance and risk services; network carrier services; strategy and operations design; change management; market intelligence and technology research and analysis. Founded in 2006, and based in Stamford, Conn., ISG employs more than 1,300 digital-ready professionals operating in more than 20 countries—a global team known for its innovative thinking, market influence, deep industry and technology expertise, and world-class research and analytical capabilities based on the industry’s most comprehensive marketplace data. For additional information, visit www.ISG-One.com

Joe Gomes, CFA, Managing Director, Equity Research Analyst, Generalist , Noble Capital Markets, Inc.

Joshua Zoepfel, Research Associate, Noble Capital Markets, Inc.

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

Sale of a Unit. Wednesday, ISG announced the sale of its non-core automation unit to UST, a digital transformation solutions company, for $27 million. At closing, ISG received $20 million in cash with $4 million to be released over the next 90 days and $3 million to be released at the end of 1Q25. Proceeds will be used for reducing debt, re-investing in the business, and returning capital to shareholders. Automation contributed roughly $30 million of annual revenue, including $18 million of recurring revenue.

AI Business. With large enterprises’ increasing focus on AI, ISG is placing more emphasis in this area and we believe is poised to capitalize on future spending through its AI Advisory and Research segments. Early indications of growing demand are showing with ISG Tango’s total contract value rising at the end of the second quarter.

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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.

OpenAI Secures $6.5 Billion in Funding, Valued at Over $150 Billion

Posted on October 3, 2024October 3, 2024 by slightbourne@noblecapitalmarkets.com

Key Points:
– OpenAI closes a $6.5 billion funding round, valuing the company at over $150 billion.
– Thrive Capital led the investment, with participation from other global investors.
– OpenAI solidifies its position as one of the largest venture-backed startups alongside SpaceX and ByteDance.

OpenAI has successfully raised over $6.5 billion in new funding, placing the artificial intelligence company at a staggering $150 billion valuation. This major deal, one of the largest private investments in tech history, further cements OpenAI’s dominance in the rapidly growing AI sector, alongside other tech giants like Elon Musk’s SpaceX and TikTok’s parent company, ByteDance.

The funding round, spearheaded by Thrive Capital, the venture firm headed by Josh Kushner, attracted significant interest from global investors, reflecting the industry’s confidence in AI’s transformative potential. OpenAI’s latest financial boost comes amid increased competition in the development of generative AI technologies. With this capital infusion, the company is well-positioned to further innovate and expand its technological capabilities.

This investment also highlights the industry’s willingness to back costly AI research, which powers advancements in generative AI. As the technology behind AI becomes increasingly expensive and complex, OpenAI’s ability to attract such high levels of funding showcases its pivotal role in shaping the future of artificial intelligence.

OpenAI’s recent funding round follows a turbulent year for the company. In November of last year, the company’s board made the surprising decision to fire and then quickly reinstate Chief Executive Officer Sam Altman. Despite the internal shake-up, including the loss of key leaders like Chief Technology Officer Mira Murati and Sutskever, OpenAI has remained a dominant force in the AI space. It has revamped its board and expanded its team, hiring hundreds of new employees to strengthen its foundation.

Thrive Capital’s role in leading the funding round is a testament to the venture capital firm’s belief in AI’s potential to revolutionize industries. OpenAI’s continued growth and its hefty valuation reinforce the broader tech sector’s commitment to pushing the boundaries of AI research, development, and application.

Release – ISG Sells Its Automation Unit to UST

Posted on October 2, 2024October 2, 2024 by dburczyk@noblecapitalmarkets.com

Research News and Market Data on III

Move sharpens ISG’s focus, strengthens balance sheet and immediately enhances shareholder value

STAMFORD, Conn.–(BUSINESS WIRE)– Information Services Group ( ISG ) (Nasdaq: III ), a leading global technology research and advisory firm, said today it has sold its automation unit to UST, a leading digital transformation solutions company, for $27 million in an all-cash transaction, with a portion of the proceeds placed in escrow, to be released contingent upon meeting certain conditions.

The unit offers robotic process automation (RPA) software implementation and licensing services. It was established as a startup business in 2017 to meet the emerging demand for RPA.

ISG Chairman and CEO Michael P. Connors said the sale is a “win-win” for both ISG and UST.

“With this sale, ISG emerges as a stronger, more focused firm, devoted to serving our clients by leveraging our towering strengths in sourcing, powered by our AI-driven ISG Tango™ platform; digital transformation, including enterprise change and training-as-a-service; AI advisory, technology research and supplier governance,” Connors said. “In addition, the cash proceeds of the sale immediately strengthen our balance sheet and improve shareholder value.

“At the same time, our former automation unit will benefit from being part of a larger technology services organization in UST, one that we have known and respected for years, with the resources and scale to compete in the intelligent automation space,” Connors said.

Commenting on UST’s acquisition, Sajesh Gopinath, general manager and go-to-market leader, UST SmartOps, said: “This strategic investment in the intelligent automation space solidifies UST’s position as a market leader in a dynamic sector that has the potential to transform industries, enhance productivity, improve customer experiences, and generate new revenue streams. By onboarding experienced intelligent automation consultants and capabilities, UST is strengthening its standing in a competitive market and broadening its partner ecosystem to position itself for future growth and meet the emerging needs of our clients.”

Connors said ISG decided to exit the business because its implementation and software licensing activities no longer were a strategic fit with ISG’s position as an independent, third-party advisory firm.

ISG received $20 million in cash at closing with the remaining $7 million held in escrow. Of this amount, $4 million is to be released from escrow over the next 90 days as certain contractual conditions with clients are met, and the remaining $3 million is to be released after the end of the first quarter of 2025, based on the achievement of certain revenue targets. Net proceeds from the transaction are expected to provide the opportunity to reduce debt and return capital to shareholders.

To reflect the impact of the divestiture activity, ISG said it is updating its third-quarter guidance, targeting revenues in the range of $60 million to $61 million, and adjusted EBITDA (a non-GAAP measure defined below under “Non-GAAP Financial Measures”) in the range of $6.5 million to $7.0 million.

Sett & Lucas served as financial advisor to ISG, and Katten Muchin Rosenman LLP served as legal advisor.

ISG will file a Form 8-K with the Securities and Exchange Commission in connection with the sale.

Conference Call

ISG will hold a conference call today, Wednesday, October 2, at 4:30 p.m., US ET, to discuss the transaction. The call can be accessed by dialing (800) 715-9871 , or, for international callers, by dialing +1 (646) 307-1963 . The access code is 3455640 . A recording of the call will be available on ISG’s investor relations page for approximately four weeks following the call.

Forward-Looking Statements

This communication contains “forward-looking statements” which represent the current expectations and beliefs of management of ISG concerning future events and their potential effects. Statements contained herein including words such as “anticipate,” “believe,” “contemplate,” “plan,” “estimate,” “target,” “expect,” “intend,” “will,” “continue,” “should,” “may,” and other similar expressions are “forward-looking statements” under the Private Securities Litigation Reform Act of 1995. These forward-looking statements are not guarantees of future results and are subject to certain risks and uncertainties, many of which are beyond the control of ISG, its directors and its management, that could cause actual results to differ materially from those anticipated, including, without limitation: (1) the occurrence of any event, change or other circumstance that could affect ISG’s rights or obligations under the Share Purchase Agreement governing the divestiture, (2) risks related to the disruption of management’s attention from ISG’s ongoing business operations due to the divestiture and ISG’s obligations under the Share Purchase Agreement, (3) risks that the divestiture may disrupt current plans and operations and any potential difficulties in employee retention as a result and (4) the effect of the announcement of the transaction on the ISG’s relationships with its customers and suppliers and on its business generally. Certain of these and other applicable risks, cautionary statements and factors that could cause actual results to differ from ISG’s forward-looking statements are included in ISG’s filings with the U.S. Securities and Exchange Commission. ISG undertakes no obligation to update or revise any forward-looking statements to reflect subsequent events or circumstances.

Non-GAAP Financial Measures

ISG reports all financial information required in accordance with U.S. generally accepted accounting principles (GAAP). In its updated third-quarter guidance appearing in this release, ISG has presented both GAAP financial results as well as non-GAAP information. ISG believes that evaluating its ongoing operating results will be enhanced if it discloses certain non-GAAP information. These non-GAAP financial measures exclude non-cash and certain other special charges that many investors believe may obscure the user’s overall understanding of ISG’s current financial performance and the Company’s prospects for the future. ISG believes that these non-GAAP measures provide useful information to investors because they improve the comparability of the financial results between periods and provide for greater transparency of key measures used to evaluate the Company’s performance.

In this press release, ISG provides adjusted EBITDA (defined as net income, plus interest, taxes, depreciation and amortization, foreign currency transaction gains/losses, non-cash stock compensation, interest accretion associated with contingent consideration, acquisition-related costs, and severance, integration and other expense), which is a non-GAAP measure that the Company believes provide useful information to both management and investors by excluding certain expenses, which management believes are not indicative of ISG’s core operations. This non-GAAP measure is used by ISG to evaluate the Company’s business strategies and management’s performance.

Management believes this information facilitates comparison of underlying results over time. Non-GAAP financial measures, when presented, are reconciled to the most closely applicable GAAP measure. Non-GAAP measures are provided as additional information and should not be considered in isolation or as a substitute for results prepared in accordance with GAAP. A reconciliation of the forward-looking non-GAAP estimates contained herein to the corresponding GAAP measures is not being provided, due to the unreasonable efforts required to prepare it.

About UST

Since 1999, UST has worked side by side with the world’s best companies to make a powerful impact through transformation. Powered by technology, inspired by people, and led by our purpose, we partner with our clients from design to operation. Our digital solutions, proprietary platforms, engineering expertise, and innovation ecosystem turn core challenges into impactful, disruptive solutions. With deep industry knowledge and a future-ready mindset, we infuse innovation and agility into our clients’ organizations—delivering measurable value and positive lasting change for them, their customers, and communities around the world. Together, with 30,000+ employees in 30+ countries, we build for boundless impact—touching billions of lives in the process. Visit us at www.UST.com .

About ISG

ISG (Information Services Group) (Nasdaq: III ) is a leading global technology research and advisory firm. A trusted business partner to more than 900 clients, including more than 75 of the world’s top 100 enterprises, ISG is committed to helping corporations, public sector organizations, and service and technology providers achieve operational excellence and faster growth. The firm specializes in digital transformation services, including AI, cloud and data analytics; sourcing advisory; managed governance and risk services; network carrier services; strategy and operations design; change management; market intelligence and technology research and analysis. Founded in 2006, and based in Stamford, Conn., ISG employs more than 1,600 digital-ready professionals operating in more than 20 countries—a global team known for its innovative thinking, market influence, deep industry and technology expertise, and world-class research and analytical capabilities based on the industry’s most comprehensive marketplace data. For more information, visit www.isg-one.com .

Source: Information Services Group, Inc.

Release – SES Space and Defense Awards Comtech Order for Next-generation Modems to Operate on O3b mPOWER Constellation

Posted on October 1, 2024October 1, 2024 by dburczyk@noblecapitalmarkets.com

Research News and Market Data on CMTL

CHANDLER, Ariz. – Oct. 1, 2024– Comtech (NASDAQ: CMTL) (the “Company”), a global technology leader, today announced SES Space & Defense recently awarded the Company an initial order for Comtech’s market-leading software-defined SLM-5650B and other next-generation modems. Initial quantities under this new contract are expected to be delivered over the next year.

“In today’s threat environment, secure, resilient, and ubiquitous connectivity is critical to maintaining an information advantage across all domains,” said John Ratigan, Interim CEO of Comtech. “This contract award further demonstrates the trust of SES Space & Defense in Comtech’s ability to deliver next-generation digital solutions. O3b mPOWER is among the world’s most innovative satellite constellations, and we are thrilled to partner with SES Space & Defense as they pave the way for modernized military satellite communications (“SATCOM”) operations.”

“We choose customer mission success first. Comtech’s SLM modem series includes features that are unique and critical to our customers’ missions,” said David Fields, President and CEO of SES Space & Defense. “It is important that Comtech is part of the O3b mPOWER service infrastructure. Their experience developing and manufacturing defense-oriented modems that are ‘allied by design’ with footprints in many domestic and international programs of records make it an easy decision.”

Developed and manufactured at its headquarters in Chandler, AZ, Comtech’s SLM-5650B is the Company’s current Wideband Global SATCOM-certified modem designed to deliver critical communications services for commercial backhaul and government and military applications. The software-defined SLM-5650B currently supports multiple critical DoD and NATO waveforms including DVB-S2X, the preferred waveform for SES’ O3b mPOWER constellation, with the ability to easily add more waveforms and functions to meet emerging mission needs.

Comtech’s portfolio of U.S. sovereign defense technologies and services, including the Company’s SLM-5650B and next-generation modems, align with the Space Force Commercial Space Strategy and deliver capabilities that will enhance Combined Joint All Domain Command and Control operations. Comtech’s expansive portfolio of defense and security technologies is designed to continuously evolve over time to enable digitalized SATCOM infrastructures and integrate services across blended military and commercial networks to significantly enhance mission effectiveness in future all-domain operations.

About Comtech

Comtech Telecommunications Corp. is a leading global technology company providing terrestrial and wireless network solutions, next-generation 9-1-1 emergency services, satellite and space communications technologies, and cloud native capabilities to commercial and government customers around the world. Our unique culture of innovation and employee empowerment unleashes a relentless passion for customer success. With multiple facilities located in technology corridors throughout the United States and around the world, Comtech leverages our global presence, technology leadership, and decades of experience to create the world’s most innovative communications solutions.For more information, please visit www.comtech.com.

About SES Space & Defense

SES Space & Defense is a wholly-owned subsidiary of SES and is exclusively focused on building, managing, and supporting the most advanced satellite network solutions for the U.S. Government. SES Space & Defense uses a proven multi-operator network integration and management capability, a broad global terrestrial network, as well as access to SES’s multi-orbit satellite fleet. It also offers U.S. Department of Defense customers the essential tools in cybersecurity for mission-critical operations, coupled with a proven track record in governance and compliance. SES Space & Defense operates under a proxy board, enabling it to support classified projects, and it has participated in the U.S. Government satcom sector for nearly five decades. Further information can be found at: www.sessd.com.

Forward-Looking Statements

Certain information in this press release contains statements that are forward-looking in nature and involve certain significant risks and uncertainties. Actual results and performance could differ materially from such forward-looking information. The Company’s Securities and Exchange Commission filings identify many such risks and uncertainties. Any forward-looking information in this press release is qualified in its entirety by the risks and uncertainties described in such Securities and Exchange Commission filings.

PCMTL

View source version on businesswire.com: https://www.businesswire.com/news/home/20240930788156/en/

Investor Relations Comtech

Maria Ceriello

631-962-7115

Maria.Ceriello@comtech.com

Media Contact Comtech

Jamie Clegg

480-532-2523

jamie.clegg@comtech.com

Media Contact SES Space & Defense

Melanie Delannoy

Tel. +1 571 443 7993

melanie.delannoy@sessd.com

Super Micro Shares Plunge 12% as DOJ Investigates Alleged Accounting Violations

Posted on September 26, 2024September 26, 2024 by slightbourne@noblecapitalmarkets.com

Key Points:
– DOJ opens probe into Super Micro amid allegations of accounting manipulation.
– Shares tumble 12% following the report, building on earlier losses after a Hindenburg Research short position.
– Super Micro, a major AI player, is under scrutiny as the investigation unfolds.

Super Micro Computer, Inc. (SMCI) saw its shares plummet over 12% on Thursday after a report emerged that the U.S. Department of Justice (DOJ) has initiated an investigation into the company. The investigation follows allegations from Hindenburg Research regarding possible accounting manipulation, which has cast a cloud over the company in recent months.

The DOJ probe, which is reportedly in its early stages, was first disclosed by The Wall Street Journal. While few specifics have been released, the inquiry is focusing on potential accounting violations linked to the company’s financial practices. CNBC has not yet independently verified the claims made by Hindenburg or the details of the DOJ’s investigation.

Super Micro, which designs and manufactures computers and servers for applications such as artificial intelligence (AI) algorithms, has been a significant player in the AI revolution. The company boasts major partnerships with industry leaders like Nvidia, AMD, and Intel. However, the recent news of the DOJ probe has shaken investor confidence, leading to a sharp sell-off in its stock.

The roots of this controversy trace back to late August when Hindenburg Research, a well-known short-seller, announced its short position in Super Micro, citing “fresh evidence of accounting manipulation.” Hindenburg’s report sent shockwaves through the market, causing Super Micro’s stock to plunge by nearly 20% at the time. Compounding matters, the company missed its deadline to file its annual report with the U.S. Securities and Exchange Commission (SEC), further fueling concerns. It remains unclear whether the delay is related to the allegations made by Hindenburg.

As the investigation gains traction, reports suggest that a prosecutor from the U.S. Attorney’s office in San Francisco has sought information about a former employee who previously accused Super Micro of engaging in questionable accounting practices. This has intensified scrutiny on the company’s financial integrity, leading many investors to reassess their positions.

Super Micro, founded in 1993, has enjoyed substantial growth in recent years, particularly benefiting from the AI boom. Its hardware is critical for the infrastructure powering websites, data storage, and AI computing. The company’s shares had been on an upward trajectory, driven by strong demand in the tech sector, until these allegations surfaced.

The fallout from the DOJ probe marks another chapter in a tumultuous period for Super Micro. It remains to be seen how this investigation will unfold and what its ultimate impact will be on the company’s financial health and market standing. At this stage, neither the DOJ nor Super Micro has offered substantial comment on the matter.

The investigation raises broader questions about corporate governance and financial transparency in tech companies. As Super Micro continues to face these allegations, the company will need to work swiftly to restore investor confidence and navigate the potential legal challenges ahead.

China’s E-commerce Giants Surge After Stimulus Package Boost

Posted on September 25, 2024September 25, 2024 by slightbourne@noblecapitalmarkets.com

Key Points:
– Alibaba, JD.com, and Pinduoduo stocks soar after China announces new monetary stimulus measures.
– The People’s Bank of China released $140 billion in liquidity by cutting interest rates and reserve requirements.
– Skepticism remains over whether these measures will lead to long-term economic recovery.

China’s major e-commerce players—Alibaba, JD.com, and Pinduoduo—saw a significant stock surge on Tuesday after the People’s Bank of China (PBOC) unveiled its first major stimulus package since the pandemic. The central bank’s efforts aim to inject liquidity into the economy and spark growth amid ongoing challenges in the property market and reduced consumer demand.

Shares of Alibaba rose by 7%, while JD.com jumped 11%, and Pinduoduo saw an increase of nearly 10%. This sharp rise followed the PBOC’s announcement of key interest rate cuts and a reduction in reserve requirements for banks. These measures are expected to free up around 1 trillion yuan ($140 billion) in liquidity, making it easier for businesses and households to access loans at lower interest rates.

The stimulus comes at a critical time for China’s economy, which has been grappling with a cooling property market and weaker-than-expected demand in recent months. The government’s regulatory crackdown on tech companies over the last few years further compounded the struggles of companies like Alibaba and JD.com. At the height of this crackdown, Alibaba was slapped with a $2.6 billion fine for antitrust violations. Despite some recovery in 2024, these companies remain far from their 2020 stock price highs.

The tech sector, which includes major firms such as Baidu, Tencent, and NetEase, saw a broad rally following the announcement. The CSI 300, Shanghai Composite, and Hang Seng indexes all rose over 4%, reflecting optimism among investors about the new economic measures.

While the stock market responded favorably, some experts remain cautious about the long-term impact of China’s stimulus efforts. Charles Schwab’s chief global investment strategist, Jeffrey Kleintop, expressed doubts that these moves will be enough to stabilize China’s property market or significantly improve household incomes. “A lower mortgage rate on existing loans might help households, but it doesn’t do anything to arrest the decline in property prices or aggregate incomes or jobs,” said Kleintop. Wolfe Research chief economist Stephanie Roth echoed these sentiments, noting that similar announcements in the past have generated excitement but did not produce sustained economic improvements.

The stakes are high for China’s economy, which has long been seen as a key driver of global growth. As the world’s second-largest economy, a slowdown in China could have ripple effects across international markets. Investors are keenly watching whether these new stimulus measures will generate enough momentum to help China regain its footing and whether companies like Alibaba and JD.com can continue to capitalize on a more favorable economic environment.

Despite the skepticism, the stock surge offers a brief respite for Chinese e-commerce firms, which have faced intense pressure over the last few years. While these gains are encouraging, the question remains whether this upward trajectory will last or if more comprehensive measures will be needed to keep China’s economic recovery on track.

Release – Comtech Comments on Director Nominations

Posted on September 23, 2024September 23, 2024 by dburczyk@noblecapitalmarkets.com

Research News and Market Data on CMTL

CHANDLER, Ariz. – Comtech (NASDAQ: CMTL) (the “Company”), a global technology leader, today noted the director nominations submitted by Michael Porcelain, Fred Kornberg and their affiliates to stand for election to the Comtech Board of Directors at the Company’s Fiscal 2024 Annual Meeting of Stockholders.

Comtech stockholders are not required to take any action at this time.

About Comtech

Comtech Telecommunications Corp. is a leading global technology company providing terrestrial and wireless network solutions, next-generation 9-1-1 emergency services, satellite and space communications technologies, and cloud native capabilities to commercial and government customers around the world. Our unique culture of innovation and employee empowerment unleashes a relentless passion for customer success. With multiple facilities located in technology corridors throughout the United States and around the world, Comtech leverages our global presence, technology leadership, and decades of experience to create the world’s most innovative communications solutions. For more information, please visit www.comtech.com.

Important Additional Information and Where to Find It

The Company intends to file a proxy statement on Schedule 14A, an accompanying white proxy card, and other documents with the Securities and Exchange Commission (the “SEC”) in connection with its solicitation of proxies from the Company’s stockholders for the Company’s Fiscal 2024 Annual Meeting of Stockholders. THE COMPANY’S STOCKHOLDERS ARE STRONGLY ENCOURAGED TO READ THE COMPANY’S DEFINITIVE PROXY STATEMENT (INCLUDING ANY AMENDMENTS OR SUPPLEMENTS THERETO), THE ACCOMPANYING WHITE PROXY CARD, AND ALL OTHER DOCUMENTS FILED OR TO BE FILED WITH THE SEC CAREFULLY AND IN THEIR ENTIRETY BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION. Investors and stockholders may obtain a copy of the definitive proxy statement, an accompanying white proxy card, any amendments or supplements to the definitive proxy statement and other documents filed by the Company with the SEC at no charge at the SEC’s website at www.sec.gov. Copies will also be available at no charge by clicking the “Governance” link in the “Investors” section of the Company’s website, https://comtech.com/investors/, or by contacting investors@comtech.com as soon as reasonably practicable after such materials are electronically filed with, or furnished to, the SEC.

Participants in the Solicitation

The Company, its directors, certain of its officers, and other employees may be deemed to be “participants” (as defined in Section 14(a) of the Securities Exchange Act of 1934, as amended) in the solicitation of proxies from the Company’s stockholders in connection with matters to be considered at the Company’s Fiscal 2024 Annual Meeting of Stockholders.

Information about the names of the Company’s directors and officers, their respective interests in the Company by security holdings or otherwise, and their respective compensation is set forth in the sections entitled “Stockholders, Directors and Executive Officers,” “Director Compensation,” and “Executive Compensation” of the Company’s Proxy Statement on Schedule 14A in connection with the Fiscal 2023 Annual Meeting of Stockholders, filed with the SEC on November 16, 2023 (available here) and the Company’s Annual Report on Form 10-K, filed with the SEC on October 12, 2023 (available here). To the extent the security holdings of directors and executive officers have changed since the amounts described in these filings, such changes are set forth on Initial Statements of Beneficial Ownership on Form 3 or Statements of Change in Ownership on Form 4 filed with the SEC, which can be found at no charge at the SEC’s website at www.sec.gov. Updated information regarding the identity of potential participants and their direct or indirect interests, by security holdings or otherwise, in the Company will be set forth in the Company’s Proxy Statement on Schedule 14A for the Fiscal 2024 Annual Meeting of Stockholders and other relevant documents to be filed with the SEC, if and when they become available. These documents will be available free of charge as described above.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240922560614/en/

Investor Relations

Maria Ceriello

631-962-7102

investors@comtech.com

Media

Jamie Clegg

480-532-2523

jamie.clegg@comtech.com

Comtech Telecommunications (CMTL) – A Proxy Fight?

Posted on September 23, 2024September 23, 2024 by cpereira@noblefcm.com

Monday, September 23, 2024

Comtech Telecommunications Corp. engages in the design, development, production, and marketing of products, systems, and services for advanced communications solutions in the United States and internationally. It operates in three segments: Telecommunications Transmission, Mobile Data Communications, and RF Microwave Amplifiers. The Telecommunications Transmission segment provides satellite earth station equipment and systems, over-the-horizon microwave systems, and forward error correction technology, which are used in various commercial and government applications, including backhaul of wireless and cellular traffic, broadcasting (including HDTV), IP-based communications traffic, long distance telephony, and secure defense applications. The Mobile Data Communications segment provides mobile satellite transceivers, and computers and satellite earth station network gateways and associated installation, training, and maintenance services; supplies and operates satellite packet data networks, including arranging and providing satellite capacity; and offers microsatellites and related components. The RF Microwave Amplifiers segment designs, develops, manufactures, and markets satellite earth station traveling wave tube amplifiers (TWTA) and broadband amplifiers. Its amplifiers are used in broadcast and broadband satellite communication; defense applications, such as telecommunications systems and electronic warfare systems; and commercial applications comprising oncology treatment systems, as well as to amplify signals carrying voice, video, or data for air-to-satellite-to-ground communications. The company serves satellite systems integrators, wireless and other communication service providers, broadcasters, defense contractors, military, governments, and oil companies. Comtech markets its products through independent representatives and value-added resellers. The company was founded in 1967 and is headquartered in Melville, New York.

Joe Gomes, CFA, Managing Director, Equity Research Analyst, Generalist , Noble Capital Markets, Inc.

Joshua Zoepfel, Research Associate, Noble Capital Markets, Inc.

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

13D Filing. On Friday after the market closed, the SEC released a 13D filing filed by a group including former Comtech CEOs Michael Porcelain and Fred Kornberg. As part of the filing, the Group noted that on September 13th Mr. Porcelain delivered a letter to Comtech nominating a slate of eight highly qualified director candidates for election to the Board at Comtech’s 2024 annual meeting of stockholders, generally held in mid-December. The Group has engaged, and intends to continue to engage, in discussions with management and the Board of Comtech, as well as Comtech stockholders and others about the Company.

Details. According to the 13D, in addition to Mr. Porcelain and Mr. Kornberg, the group includes Oleg Timoshenko, founder of UHP Networks, and Jay Whitehurst, former President of Comtech’s Trusted Location product line. In aggregate, the Group reported ownership of 2,179,897 CMTL shares, or about 7.6% of the outstanding.

Get the Full Report

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

Release – Comtech Launches New Digital Common Ground Modem Product Line for DoD and Coalition Customers

Posted on September 11, 2024September 11, 2024 by dburczyk@noblecapitalmarkets.com

Research News and Market Data on CMTL

U.S. sovereign designed DCG modems enable warfighters and military assets to easily roam across commercial and purpose-built networks

CHANDLER, Ariz. – Sept. 11, 2024–Comtech (NASDAQ: CMTL) (“the Company”), a global technology leader, today announced the launch of the Company’s new Digital Common Ground (“DCG”) portfolio of modems. Comtech’s DCG product line is designed to enable the U.S. Department of Defense (“DoD”) and coalition partners to move to digitized, hybrid satellite network architectures, which will bring forward a new era of secure, resilient, interoperable, and ubiquitous connectivity across all domains.

Built on the proven success of Comtech’s extensive satellite communications (“SATCOM”) modem portfolio, the Company’s DCG modems are designed and built at Comtech’s headquarters in Chandler, AZ and support commercial and government satellite operations on a single common platform that can be reconfigured rapidly to address changing operational needs. Comtech’s DCG portfolio is also designed to evolve over time to incorporate new capabilities and keep pace with the upgrade cycle of new innovative satellite constellations-significantly reducing overall lifecycle costs for customers while also delivering industry leading performance and efficiency.

“As a leading provider of U.S. sovereign developed and manufactured communications solutions, Comtech’s software defined DCG product line provides the building blocks needed to enable the trusted, all-digital communications systems of the future,” said John Ratigan, Interim CEO of Comtech. “DCG represents a transition away from stovepipes and siloed communication systems toward an open-standard and truly flexible architecture. Comtech’s DCG product line reduces total cost of ownership for satellite operators while also enabling an all-digital, software defined infrastructure that can rapidly adapt at the speed of relevance.”

Customer Value and Operational Benefits:

Digital Transformation: Comtech’s DCG product line is designed to align with digital transformation and modernization initiatives to support the evolution of SATCOM infrastructures across commercial and government markets-enabling significantly enhanced flexibility, interoperability, and ease of operation while also reducing cost and removing complexity of operations.
Security: Comtech incorporates modern cybersecurity design principles at every level across its DCG product line-ranging from a trusted supply chain to a thoughtful software upgrade lifecycle, including in-field updates. The DCG product line also offers secure over-the-air communications through multi-stream Federal Information Protection Standards 140-3 Level 2 certified Transmission Security.
Superior Performance: Comtech’s DCG product line offers customers industry leading performance compared to other products available in the market today-offering multi-gigabit throughput at launch.
Enhanced Situational Awareness: The data-centric infrastructureof the DCG product line enables enhanced data exchange and facilitates a shared understanding of the battlespace, crucial for informed decision-making.
Multi-Orbit Capability & Improved Interoperability: Comtech’s DCG portfolio is one of the first product lines on the market today offering robust access to multi-orbit capabilities across commercial and purpose-built networks.The DCG product line is also one of the first to be Digital Intermediate Frequency Interoperability (“DIFI”) compliant-adhering to DoD and coalition communications standards to enable seamless information flow between services, a key tenet of Combined Joint All Domain Command and Control (“CJADC2”).
Waveform Flexibility: The DCG product line currently supports a variety of critical waveforms including DVB-S2X, DSSS, EBEM, and other protected waveforms. With a software defined core, Comtech’s DCG product line can easily add waveforms and integrate new capabilities tailored to specific mission needs.

Availability:

Comtech is currently accepting orders for its DCG product line. For more information, please visit our webpage: https://comtech.com/capability/dcgmodems/

About Comtech

Forward-Looking Statements

PCMTL

View source version on businesswire.com: https://www.businesswire.com/news/home/20240910431821/en/

Investor Relations

Maria Ceriello

631-962-7115

Maria.Ceriello@comtech.com

Media Contact

Jamie Clegg

480-532-2523

jamie.clegg@comtech.com

Release – ISG Secures Patent for AI-Powered Contracting Technology

Posted on September 9, 2024September 9, 2024 by dburczyk@noblecapitalmarkets.com

Research News and Market Data on III

Comprehensive approach to automating contract generation and negotiation wins patent protection

STAMFORD, Conn.–(BUSINESS WIRE)– Information Services Group ( ISG ) (Nasdaq: III ), a leading global technology research and advisory firm, today announced it has secured a U.S. patent for its proprietary AI-powered contracting technology.

The automated intelligent contracting solution is offered as part of the ISG GovernX ® vendor compliance and risk management platform to simplify contract generation, negotiation and management, including renewals of existing contracts.

ISG said the solution also has future application for ISG Tango ™, the firm’s groundbreaking sourcing platform launched earlier this year that digitizes all elements of ISG’s market-leading sourcing transactions business to better serve clients, improve transaction speed and efficiency, and allow ISG to expand into other market segments. It would be used initially, ISG said, to support the sourcing transaction needs of midmarket companies—a new market segment and growth area for ISG—and later for larger, more complex contracts as the AI model that powers the solution grows in capability and sophistication.

The newly awarded patent, #12,067,060, issued on August 21, 2024, covers a solution that uses AI to analyze and understand the preferences of all parties to a contract and suggest tailored terms for any contract scenario. It builds on U.S. patent #10,936,672, which was awarded to ISG in 2021 for a system that leverages machine learning and AI to generate documents based on historical contracts and data sets.

A third invention, currently patent pending, leverages machine learning and AI across the entire contract generation, pricing and negotiation process with a chatbot-like interaction for multiple parties involved in creating a contract.

“We can now offer our clients exclusive access to automation technology that can build tailored contracts, increase compliance and compress negotiation timeframes,” said Todd Dreger, partner and president, ISG GovernX. “We are delighted to have received patent recognition for our distinctive and important inventions of AI-powered, automated document generation capabilities.”

The patents include methods for training models on historical documents to understand and predict the best language to include in a new contract. This involves determining associations between different document sections and optimizing the document generation process.

Users can input their preferences, view ranked candidate documents, and interact with the system to refine the final document. The interface can emphasize selected sections and provide feedback based on a scoring mechanism. The system also facilitates automated negotiation by adjusting document sections in real-time based on the preferences and priorities of multiple parties, reducing the need for manual negotiation.

“Our AI-driven contract automation inventions will help our clients improve their business operations and the management of their supplier ecosystems while lowering operational costs,” Dreger said. “As the field of AI continues to evolve, we’re confident the technologies covered by these patents will drive meaningful value for our clients by meeting their needs for fast, accurate, compliant contracting.”

The patents bolster the market-leading ISG GovernX platform, which currently has more than $65 billion of annual contact value under management across more than 13,000 client contracts. GovernX automates the management of the entire contract lifecycle and provides a complete, customized view of the user’s contract and supplier ecosystem to improve supplier performance, decrease spend and reduce third-party risk.

For more information about ISG GovernX, visit this webpage .

About ISG

Source: Information Services Group, Inc.

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

Posted on September 5, 2024September 5, 2024 by aweinsoff@channelchek.com

Research News and Market Data on CNDT

September 05, 2024

Government

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

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

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

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

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

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

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

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

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

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

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Neil Franz

Conduent

neil.franz@conduent.com

+1-240-687-0127

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Conduent

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Wall Street’s Reality Check on Tech’s Hottest Trend: AI

Posted on August 30, 2024August 30, 2024 by slightbourne@noblecapitalmarkets.com

Key Points:
– Nvidia’s stellar earnings fail to impress investors as AI excitement wanes
– Big Tech struggles to show concrete returns on massive AI investments
– Nvidia’s diverse applications provide stability amid AI uncertainty

The artificial intelligence gold rush that has captivated Wall Street for the past 18 months is showing signs of cooling, as investors begin to demand more tangible results from the technology sector’s massive AI investments. This shift in sentiment was starkly illustrated by the market’s lukewarm response to Nvidia’s recent earnings report, which, despite showcasing impressive growth, failed to ignite the enthusiasm that has become characteristic of the AI narrative.

Nvidia, the world’s leading AI chip producer, delivered a quarterly report that would be the envy of most businesses. Sales surged 122% in the second quarter, profits doubled, and the outlook for the current quarter remained strong. Yet, Nvidia’s shares slumped 7% following the announcement, a telling indicator of changing investor expectations in the AI space.

The muted reaction to Nvidia’s stellar performance speaks volumes about the evolving psychology of Wall Street. For months, investors have been throwing money at any company with potential AI profits, creating a hype train that has carried Nvidia to a staggering 3,000% stock price increase over the past five years. The company’s quarterly earnings reports had taken on an almost mythical quality, consistently beating expectations and training Wall Street to anticipate the extraordinary.

However, the initial thrill of AI breakthroughs is beginning to fade, and investors are adopting a more discerning approach. The key question now is no longer about the potential of AI, but about its ability to generate concrete revenue for the companies heavily invested in its development. Big Tech firms have poured billions into AI research and development, yet have relatively little to show for it in terms of transformative products or services.

While chatbots like ChatGPT and Google Gemini have impressed, they haven’t quite lived up to the game-changing potential touted by their creators. The current consumer demand for AI seems centered on making mundane tasks less onerous, rather than the grand visions of AI revolutionizing creative processes or complex problem-solving that tech companies have been promoting.

For Nvidia, this reality check presents both challenges and opportunities. Unlike many AI startups built on promises and potential, Nvidia has a solid foundation in producing essential hardware for the tech industry. CEO Jensen Huang emphasized that Nvidia’s chips power not just AI chatbots, but also ad-targeting systems, search engines, robotics, and recommendation algorithms. The company’s data center business continues to drive nearly 90% of its total revenue, providing a stable base even as the AI hype cycle fluctuates.

However, Nvidia isn’t without its vulnerabilities. The company’s current dominance in AI chip production is partly due to the complexity and difficulty of replicating its products. But this advantage may not be permanent. Tech giants like Google and Amazon, currently reliant on Nvidia’s chips, are racing to develop their own AI hardware. The potential emergence of these customers as competitors could pose a significant threat to Nvidia’s market position in the long term.

As the AI landscape continues to evolve, investors are likely to become increasingly discriminating, focusing on companies that can demonstrate practical applications and revenue generation from their AI investments. For the tech industry as a whole, this shift may necessitate a recalibration of expectations and a more grounded approach to AI development and marketing.

The cooling of AI fever doesn’t signal the end of the technology’s potential. Rather, it marks a transition from unbridled enthusiasm to a more measured evaluation of AI’s place in the business world. As this reality check unfolds, companies that can bridge the gap between AI’s promise and its practical, revenue-generating applications will likely emerge as the true winners in this next phase of technological evolution.