I know a bunch of folks short RH. Damn it I chickened out. RH says certain financial statements 'should no longer be relied upon' 16:39 RH In a regulatory filing, the company said, "During the preparation of our response to a comment letter from the Division of Corporation Finance of the SEC related to a routine review of our Annual Report on Form 10-K for the fiscal year ended January 29, 2022, and Quarterly Report on Form 10-Q for the fiscal quarter ended October 29, 2022, RH became aware of errors in the calculation of net income per share. On February 1, 2023, the Audit Committee of the Board of Directors, after discussion with our senior leadership and independent registered public accountants, determined that our previously unaudited financial statements for the three months ended April 30, 2022, the three and six months ended July 30, 2022, and the three and nine months October 29, 2022 should no longer be relied upon due to material unintentional errors in certain of these financial periods with respect to our calculation of basic and diluted net income per share.
IT ALL GOES BACK TO VEGAS: Roth analyst Edward Engel contended that gaming stocks are having a strong start to 2023, averaging a 16% rebound in January. Roth highlighted factors that are driving this recovery. Specifically, stocks with Las Vegas locals exposure, such as Boyd Gaming and Golden Entertainment (GDEN) can benefit from the same drivers causing strip stocks to rally 25% year-to-date . The analyst told investors in a research note that stocks with high variable interest costs can continue outperforming in 2023, after significantly underperforming last year. The firm concluded that land-based gaming stocks are "preferable" over iGaming focused peers.
2U price target raised to $15 from $9 at Barrington 15:03 TWOU Barrington analyst Alexander Paris raised the firm's price target on 2U to $15 from $9 and keeps an Outperform rating on the shares following the Q4 beat. The analyst is supportive of management's plan to accelerate 2U's transition to a platform company under the edX brand and its focus shift to more durable and profitable growth. ON Semiconductor (ON) ON Semiconductor (ON) is due to post earnings before the bell on Monday. Shares of the Arizona-based chip company have rocketed over 30% thus far in 2023, extending an over 70% gain from mid-2022. EPS and revenue estimates have been revised upwards 16 times in the 90 days ahead of the earnings result. Earnings Insight: ON semiconductor has beaten EPS and revenue expectations in 8 consecutive quarters.
Nano Nano-- We have agitation. If NNDM was AI I would already be in the name.-- Been watching for a while now. But this is 3D Printing another area of tech I am very high on but one that is getting little attention from investors in the AI Mania.(Tm* stoney) Update 4:15pm on Feb. 3: Adds comment from Nano Dimension. Nano Dimension (NASDAQ:NNDM) holder Murchinson Ltd. is calling on the 3D printer maker to hold a special meeting to remove four incumbent directors, including itschairman/CEO, and install two independent board members. Murchinson Ltd., which is the largest holder of the Israeli 3D printing company with a 5.1% stake, is making the request after several "unsuccessful attempts" to engage with the board and management, including sending a letter on Jan. 22, according aletter Murchison sentto holders on Thursday. The letter comes after Nano Dimension on Monday turned down Murchinson's request for a special meetinga nd also adopted a shareholder rights plan or"poison pill." "Despite the roadblocks being put in place by Nano Dimension, we will take all necessary steps to provide shareholders the opportunity to vote on our proposals to reconstitute the Board at a special meeting," Murchinson's Moshe Sarfaty wrote in the letter. Murchinson said that its prepared to pursue all available "legal paths" if the board continues "hindering" its rights. Nano Dimension responded to the Murchinson letter in a statement to Seeking Alpha on Friday. "Nano Dimension rejects the claims of shady Murchinson and Mr. Bistricer," Nano Dimension said in the statement. "They seem to believe that a quick manipulation can make them money swiftly, with no risk and fast overnight return, by foregoing the potential substantial upside for other shareholders. Nano Dimension's management is Determined to protect the company's shareholders against any attempt to harm their investment." Nano Dimension on Monday said Murchinson's call a special shareholder failed to comply with the requirements set forth under the Israeli Companies Law for calling such a meeting. Bloomberg reported in early November that Murchinson offered to buy the remainder of the company it doesn't already own for $4/share.
We have some good indicators that we have developed over the years. 1> the raging elephant indicator-- unusual and excessive bullishness. Two: The JIM Crammer Indicator. So I watched the slob the other night and he has been telling his minions every step of the way not to buy the exact companies that went up the most... he called them zombie companies and if you don't make money you can't buy them etc. Now he smiles and said hey the "rally of all things speculative" continues! What a a dolt. Yea it continues without you or yours. But Crammer is straddling the line as usual, he has not fully committed to this Jan move so we can assume it can continue... BUT WHAT OF THE HORSE- FACED INDICATOR!!!!! This is another good one.. Steve from CNBC missed everything too and he just bought the QQQ's HORSE FACED INDICATOR FLASHING YELLOW!!!!!! Indicators learn how to use them:
HAVE YOU SEEN THIS MAN-- SOME TIME AGO I PRESENTED RAY AS A GREAT NY CHRISTMAS STORY... NOW SOME HEARTLESS DUDE HAS ATTACKED A 90 YEAR OLD MAN. COMMUNITY JUSTICE SHALL BE DEALT!
AI UPDATE- WE GOT CATHIE! AI in spotlight as Google, Microsoft and Cathie Wood support hot tech trend Feb. 04, 2023 12:00 PM ET Alphabet Inc. (GOOG), AI, MSFT, META The year is barely a month old, but 2023 is already turning out to be one where artificial intelligence is going to dominate the strategies of businesses and the attention of investors. And this week showed that the biggest of the big names in tech are pushing more of their resources into the nascent area of AI in what is almost a fear-of-missing-out situation, even with the market still finding its footing. Microsoft (NASDAQ:MSFT) wasted little time in continuing with its support for the popular ChatGPT service from OpenAI. The software giant reportedly is close to adding an updated, and faster version of ChatGPT into its own Bing search engine within a few weeks. This would come on the heels of Microsoft (MSFT) adding ChatGPT technology to its Azure cloud service, and confirming it has made a multi-year, multi-billion investment in OpenAI, which Oppenheimer analyst Timothy Horan called "an iPhone moment" for AI technology. C3.ai (NYSE:AI), a software company that has AI in its name, continued with its hot streak of late as its shares rose almost 50% during the week, including a gain of 20% on Friday. The company, which is headed up by longtime software executive Thomas Siebel, said it is rolling out a new product suite that uses natural language to "rapidly locate, retrieve and present all relevant data" across a businesses information systems. Meta Platforms (NASDAQ:META) shares also got a boost following its fourth-quarter results, which led Bank of America Securities analyst Justin Post to say that the Facebook parent company could become a strong play in the "multi-year artificial intelligence [and] machine learning improvement cycle." Alphabet (NASDAQ:GOOG) Chief Executive Sundar Pichai left no doubt regarding his thoughts on the importance of AI to his company's future. During a conference call to discuss Alphabet's (GOOG) fourth-quarter results, Pichai said that the company is in a "great position as AI reaches an inflection point." As evidence of Alphabet's (GOOG) AI strategy, Google set plans to hold an event on February 8 about "using the power of AI". And reports emerged on Friday that said Google was investing $300M in AI startup company Anthropic. Noted investor Cathie Wood threw some weight behind the AI industry as her Ark Invest fund used its "Big Ideas 2023" report to tout the importance that AI is likely to have in the coming years. Wood's report said that the market value of disruptive innovation platforms could rise from $13 trillion today to $200 trillion by 2030.
WELCOME TO THE FUTURE- Businessweek Technology A 3D Printer Isn’t Cool. You Know What’s Cool? A 3D-Printing Factory A startup founded by SpaceX veterans aims to realize the potential of a technology whose big promises have never quite come through. Freeform Future co-founder and Chief Executive Officer Erik Palitsch watches one of the company’s 3D printers in operation. By Ashlee Vance February 1, 2023, 9:00 AM ESTCorrectedFebruary 1, 2023, 9:37 AM EST Since it first began to receive mainstream attention about 15 years ago, 3D printing has had a magical air to it, holding out the promise of turning every home into a miniature manufacturing hub while simultaneously upending the way industrial-scale factories operate. But 3D printers—which create objects by layering materials according to a plan sent by a computer—have gained a reputation for being unwieldy, expensive and slow. The utopian dream of the printers becoming a household appliance as ubiquitous as the personal computer has largely faded. There has been more progress on industrial uses, although there, too, major players have fallen into a multiyear funk. Venture capitalists continue to dedicate significant resources to startups promising innovations to fix the technology’s underlying flaws. One particularly radical approach comes from Freeform Future Corp., a five-year-old startup based in Los Angeles. The company has raised $45 million so far from investors including Founders Fund, Threshold Ventures and Valor Equity Partners. Instead of trying to build a single machine that can print three-dimensional objects, Freeform is looking to turn entire buildings into automated 3D-printing factories that would use dozens of lasers to create rocket engine chambers or car parts from metal powder. The company, which has never before discussed its approach publicly, says the technique could allow it to make metal parts 25 to 50 times faster than is possible with current methods and at a fraction of the cost. Staff engineer Rueben Mendelsberg observes a 3D printer starting up at Freeform Future’s headquarters in Hawthorne, California. Photographer: Spencer Lowell for Bloomberg Businessweek Freeform’s co-founder and chief executive officer, Erik Palitsch, spent a 10-year stint at Space Exploration Technologies Corp., Elon Musk’s aerospace company. SpaceX has famously pushed the limits of 3D printing in its rocket engines, and Palitsch led a number of its highest-profile engine development programs. But he says both he and Musk knew the existing 3D printers were inadequate for the company’s most ambitious efforts. “When we told Elon how much the machines would cost for some of our new projects, he nearly lost his mind,” says Palitsch. “And it always took an army of people to operate them.” In late 2018, Palitsch and fellow SpaceX veteran Thomas Ronacher started Freeform, hoping to rewrite some of the fundamentals of 3D printing. Typically, an object or a few objects are printed at the same time inside a shed-size machine. While it can make just about anything, the amount of work this kind of printer can do is limited by its size and its printing area. Chief Scientific Officer Tasso Lappas oversees Freeform Future’s 3D-printing process from the control room at company headquarters. Photographer: Spencer Lowell for Bloomberg Businessweek Freeform, on the other hand, is creating machines that can fill a warehouse. Its current factory, in Hawthorne, California, used to serve as Keanu Reeves’s motorcycle storage facility. (Freeform still ends up with some of the actor’s mail.) Inside, machines shuffle objects back and forth along rapidly moving conveyors, so the system can work on many things at once. Other companies have set up multiple printers in a single facility, but this strategy doesn’t improve their speed, it just increases scale by having them work in parallel. Freeform, by contrast, is redesigning the process by which 3D printing can turn raw materials into finished products. In a sense, it’s akin to the establishment of the assembly-line process pioneered by 20th century industrialists like Henry Ford. “We have to achieve a state of mass production to open this up to more industries,” says Palitsch. “And you simply can’t get there with a conventional machine.”