Very slow day today... MedMen upgraded to Hold from Sell at Canaccord 07:23 MMNFF Canaccord Genuity analyst Matt Bottomley upgraded MedMen Enterprises to Hold from Sell with a price target of C$0.40, up from C$0.25. A rebound in the company's California revenue contribution drove the Q4 beat, Bottomley tells investors in a research note. The analyst believes MedMen's turnaround prospects continue to improve. Very Surprised MedMen never made it big. Delta Air Lines named short-term buy idea at Deutsche Bank 06:01 DAL Deutsche Bank analyst… Zscaler to partner with TD Synnex 20:33 ZS TD SYNNEX "announced a partnership with Zscaler which enables partners to purchase security solutions and services as part of the Zscaler Zero Trust Exchange platform directly from TD SYNNEX." Ok it's a VERY slow day... But I found one of the funniest things I've ever seen.A PR by a company concerning China and a redaction 1 minute later!!!! President Cheese or whatever his name is he got on the phone! Check this out... -> Celanese declares force majeure in China for certain acetyl chain products 17:59 CE Celanese Corporation confirmed a declaration of force majeure in China for the following Acetyl Chain products manufactured at its Nanjing, China facility: Acetic Anhydride; Vinyl Acetate Monomer; Vinyl Acetate Emulsions; and Redispersible Powders. The Company has temporarily shut down acetic anhydride and VAM production in Nanjing to comply with recent requirements of government departments in order to achieve dual energy consumption targets in the Jiangsu Province in 2021. Similar requirements for reduced energy consumption are being applied broadly on energy-intensive industries across multiple provinces. As a result of the shutdown of VAM production, a declaration of force majeure was also necessary for downstream vinyl acetate emulsions and redispersible powders. Celanese continues to operate its acetic acid production unit in Nanjing. Phone call. Then... Celanese lifts force majeure for certain acetyl chain products 18:00 CE Celanese announced that it has lifted force majeure for the following products in the Western Hemisphere: Acetic Acid; Ethyl Acetate; Acetic Anhydride; Methyl Acetate; Dimethylamine and Trimethylamine; Methyl Isobutyl Carbinol and Methyl Isobutyl Ketone; and Paraformaldehyde. Celanese declared force majeure on February 18 due to the impacts of extreme winter weather on its operations and supply chain in the U.S. Gulf Coast.
MedMen reports Q4 EPS (5c) vs. (39c) in Q420 17:03 MMNFF Reports Q4 revenue $42M vs. $27.3M in Q420. As of June 26 the Company had total assets of $472.5M, including cash and cash equivalents of $11.9M. Company-wide Gross Margin Rate was 46.9% in the fourth quarter, compared to 40.5% in the previous quarter, driven by the Company's increased gross margin at its cultivation and manufacturing facilities. Retail Gross Margin Rate was 54.9% in the fourth quarter, compared to 55.6% in the previous quarter. "The past quarter was pivotal for MedMen, defined by increased sales and EBITDA profitability at our retail stores, as well as our cultivation and manufacturing facilities," said Tom Lynch, Chairman and Chief Executive Officer of MedMen. "We set a new record for quarterly revenue at MedMen, driven by broad-based increases in traffic and frequency of transactions across nearly all of our retail locations. Strength in California accelerated during the quarter, with revenue up 24.4% sequentially. Additionally, our improved operating results have helped us shore up our balance sheet and attract strong partners in Tilray and Serruya. As previously announced, we amended the terms of our secured debt to extend the maturity to 2028, reduced restrictive covenants and eliminated cash debt service requirements. Additionally, we added $100M of new capital subsequent to the end of the fourth quarter via private placement." Continued Lynch, "MedMen's mission is to be the best-in-class cannabis retailer, and we are positioning ourselves to achieve this goal through focus, experience, improved financials and continuing to deliver the industry's premier in-store experience. Over the next several quarters, we plan to both accelerate our growth and improve EBITDA profitability as we leverage our national brand recognition into opening new stores in Florida, California, Massachusetts, Arizona and Illinois."
Carrols Restaurant CEO Daniel Accordino to retire 16:32 TAST Carrols Restaurant "announced that Daniel Accordino, the company's CEO and President, will be retiring as CEO and President by June 30, 2022. He will also be stepping down as Chairman and as a member of the Board of Directors at or prior to the effective time of his retirement. The Carrols board is conducting a comprehensive search to identify a new CEO and is engaging a leading executive search firm to assist in the process." Grid Dynamics, Evinced enter into long-term partnership 16:05 GDYN Grid Dynamics Holdings and Evinced have entered into a strategic partnership to accelerate the implementation of accessibility in the mobile app development phase. "We at Grid Dynamics are extremely delighted to partner with Evinced in enriching the ecosystem of accessibility tools," says Rajeev Sharma - CTO at Grid Dynamics. Xponential Fitness management to meet virtually with Roth Capital 15:04 XPOF Virtual Meeting to be held on September 29 hosted by Roth Capital. RUMBLE YOUNG MAN RUMBLE!!! Anybody see the Ali documentary by Ken Burns on PBS? I just saw one Pt 3 and a bit of another but it was darn good. Beautiful photos... Probably Danny Lyon . Great facts about Ali. Without a doubt the best ever. Anyway I've seen this stock Rumble they have a good symbol lets check them out today-- FOCUS--> B. Riley sees 'significant' appreciation potential for RumbleON shares 07:47 RMBL
Stoney! Brian on CNBC did his five biggest insider buys this week. One we need to look into, it goes along with our trucking theme here, and your XPO. Marten Transport. MRTN (the Martian) Hey but the #1 buy... and you may have caught this one earlier in the week... my DBI. Cat bought $21M!!!!!! Damn. That's a biggie. On the driverless trucks, I mean somewhere on here I wrote about this before it was even a thing. Here, I found it. Over 4 1/2 years ago! -le savante https://www.elitetrader.com/et/threads/autonomous-semi-trucks.307173/#post-4413936
Electric vehicle transmissions are the way as well. Much better use of power. Will it be Eaton or Bosch there? That was some guy replying to you in that old thread Too innocent!! Tesla wasn't even born yet. But it goes to show... it's never Eaton or Bosch!!
I have my list of grown up stocks as well as General Mills has been front and center for a week now-- I may do this today.) General Mills is sitting on conservative guidance - Evercore ISI Sep. 24, 2021 8:03 AM ETGeneral Mills, Inc. Evercore ISI says superior execution out of General Mills(NYSE:GIS)and the upside from the Blue Buffalo business warrants a premium for the food stock in comparison to peers. Analyst David Palmer: "We are increasing our FY22e organic sales estimates from -1% to +1% (3-year from 7.5% to 9.5%; cons 7%) and also raise gross margins from 33.9% to 34% (- 80bps YoY; cons. 34.3%). While the company is expecting higher inflation in F2H22 to dampen EPS upside, we believe their guidance is conservative. We expect strong pricing combined with HMM cost savings to offset inflation (particularly in 1H)." That leads the firm to increase its FY22 EPS estimate to $3.83 vs. $3.74 consensus and take the price target on GIS up to $65.
Many of us thought that people were not working because of the money they were getting from the Gov and it made total sense if it was me I wouldn't. BUT Cutting jobless benefits early was counterproductive, Moody's says: At the Open Sep. 24, 2021 8:08 AM ETSPDR S&P 500 Trust ETF (SPY)S&P 500 Index (SP500) It "now seems safe to assert that workers did not remain sidelined in the first half of the year becaus unemployment insurance benefits were providing a disincentive," Moody's Analytics says. The market has gotten mixed messages about the labor market recovery this week. Federal Reserve Chairman Jay Powell said that he's close to declaring the substantial progress on unemployment that would be needed to taper asset purchases. But weekly jobless claims rose unexpectedly. Stocks have remained resilient, with the S&P 500(SP500)(NYSEARCA:SPY)back in the green for the week yesterday. Many argued that bigger benefit payments were keeping workers from filling much-needed positions, especially in lower-wage service jobs. But after looking at the recent state and regional numbers following August's disappointing payrolls report, Moody's says "it appears increasingly likely that reduced disposable income among those without a job following cessation of benefits may have contributed to softness in consumer industries instead." "Cutting the $300 per week in additional federal aid was counterproductive, as states that did so experienced slightly slower monthly growth after faring significantly worse in July," analysts led by Ryan Sweet, senior director of economic research, writes in a note. "This provides more evidence that more harm than good came out of those policies." "Using a three-month change to reflect the time from when the first announcements were made to the most recent survey month makes this even more clear," Sweet says. "There is a negative, statistically significant relationship between states that ended benefits prematurely and job growth over that period." States were about evenly split on continuing benefits, but "five of the six worst performers over the past three months and 11 of the bottom 14 cut benefits off by early July," he adds.