Omega Healthcare Invts Insider Trades Send A Signal
It was reported on October 2, that DANIEL BOOTH, Chief Operating Officer at Omega Healthcare Invts OHI executed a significant insider sell, according to an SEC filing.
What Happened: After conducting a thorough analysis, BOOTH sold 56,725 shares of Omega Healthcare Invts. This information was disclosed in a Form 4 filing with the U.S. Securities and Exchange Commission on Wednesday. The total transaction value is $2,283,181.
In the Wednesday’s morning session, Omega Healthcare Invts‘s shares are currently trading at $40.39, experiencing a down of 0.0%.
About Omega Healthcare Invts
Omega Healthcare Investors Inc is a healthcare facility real estate investment trust that invests in the United States real estate markets. Omega’s portfolio focuses on long-term healthcare facilities. Omega has one reportable segment consisting of investments in healthcare-related real estate properties located in the United States and the United Kingdom. Its core business is to provide financing and capital to the long-term healthcare industry with a particular focus on skilled nursing facilities (SNFs), assisted living facilities (ALFs), and to a lesser extent, independent living facilities (ILFs), rehabilitation and acute care facilities (specialty facilities) and medical office buildings (MOBs).
Omega Healthcare Invts’s Economic Impact: An Analysis
Positive Revenue Trend: Examining Omega Healthcare Invts’s financials over 3 months reveals a positive narrative. The company achieved a noteworthy revenue growth rate of 1.02% as of 30 June, 2024, showcasing a substantial increase in top-line earnings. As compared to competitors, the company encountered difficulties, with a growth rate lower than the average among peers in the Real Estate sector.
Profitability Metrics: Unlocking Value
-
Gross Margin: With a high gross margin of 98.52%, the company demonstrates effective cost control and strong profitability relative to its peers.
-
Earnings per Share (EPS): Omega Healthcare Invts’s EPS is a standout, portraying a positive bottom-line trend that exceeds the industry average with a current EPS of 0.46.
Debt Management: The company maintains a balanced debt approach with a debt-to-equity ratio below industry norms, standing at 1.26.
Valuation Overview:
-
Price to Earnings (P/E) Ratio: The Price to Earnings ratio of 30.6 is lower than the industry average, indicating potential undervaluation for the stock.
-
Price to Sales (P/S) Ratio: The current P/S ratio of 10.65 is above industry norms, reflecting an elevated valuation for Omega Healthcare Invts’s stock and potential overvaluation based on sales performance.
-
EV/EBITDA Analysis (Enterprise Value to its Earnings Before Interest, Taxes, Depreciation & Amortization): Omega Healthcare Invts’s EV/EBITDA ratio at 17.0 suggests potential undervaluation, falling below industry averages.
Market Capitalization Analysis: Below industry benchmarks, the company’s market capitalization reflects a smaller scale relative to peers. This could be attributed to factors such as growth expectations or operational capacity.
Now trade stocks online commission free with Charles Schwab, a trusted and complete investment firm.
Why Insider Transactions Are Key in Investment Decisions
It’s important to note that insider transactions alone should not dictate investment decisions, but they can provide valuable insights.
Within the legal framework, an “insider” is defined as any officer, director, or beneficial owner holding more than ten percent of a company’s equity securities as per Section 12 of the Securities Exchange Act of 1934. This includes executives in the c-suite and major hedge funds. These insiders are mandated to disclose their transactions through a Form 4 filing, to be submitted within two business days of the transaction.
The initiation of a new purchase by a company insider serves as a strong indication that they expect the stock to rise.
However, insider sells may not always signal a bearish view and can be influenced by various factors.
Exploring Key Transaction Codes
In the domain of transactions, investors frequently turn their focus to those taking place in the open market, as meticulously outlined in Table I of the Form 4 filing. A P in Box 3 indicates a purchase, while S signifies a sale. Transaction code C signals the conversion of an option, and transaction code A denotes a grant, award, or other acquisition of securities from the company.
Check Out The Full List Of Omega Healthcare Invts’s Insider Trades.
Insider Buying Alert: Profit from C-Suite Moves
Benzinga Edge reveals every insider trade in real-time. Don’t miss the next big stock move driven by insider confidence. Unlock this ultimate sentiment indicator now. Click here for access.
This article was generated by Benzinga’s automated content engine and reviewed by an editor.
Market News and Data brought to you by Benzinga APIs
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Nvidia, Palantir, Clover Health, Joby Aviation, Tesla: Why These 5 Stocks Are On Investors' Radars Today
The U.S. indices closed Wednesday in positive territory, with the Dow Jones Industrial Average increasing by 0.09% to 42,196.52, while the S&P 500 inched up 0.01% to reach 5,709.54. The Nasdaq also rose, up 0.08% to 17,925.12.
These are the top stocks that gained the attention of retail traders and investors throughout the day:
Nvidia Corporation NVDA
Nvidia closed the day with a 1.58% gain at $118.85, with an intraday high and low of $119.38 and $115.14 respectively. The company’s 52-week high and low are $140.76 and $39.23. Nvidia and Accenture PLC have announced a partnership aimed at accelerating AI adoption within enterprises. According to Wedbush Securities’ analyst Dan Ives, this collaboration paints a promising picture for Nvidia’s stock.
Palantir Technologies Inc. PLTR
Palantir’s stock rose 2.83% to close at $37.49. The stock hit an intraday high of $37.68 and a low of $36.15. Its 52-week high and low are $38.19 and $14.48. The company’s shares were lifted following a report that Palantir co-founder and chairman Peter Thiel has completed selling the maximum number of shares under a trading plan he adopted in May.
Clover Health Investments, Corp. CLOV
Clover Health surged 29.14% to close at $3.59. The stock’s intraday high and low were $3.65 and $2.74, with a 52-week high and low of $3.82 and $0.61. The company’s shares traded higher amid increased trading volume and traction across social media platforms. Last month, Clover Health’s subsidiary, Counterpart Health, announced a multi-year agreement with The Iowa Clinic.
Joby Aviation, Inc. JOBY
Joby Aviation’s shares climbed 27.92% to close at $6.14, with an intraday high of $6.32 and a low of $5.19. The 52-week high and low are $7.69 and $4.5. The company’s stock rose after it announced that Toyota Motor Corporation TM will invest an additional $500 million to support electric air taxi certification and commercial production.
Tesla Inc TSLA
Tesla’s stock fell 3.49% to close at $249.02. The stock’s intraday high and low were $251.16 and $241.50, with a 52-week high and low of $271 and $138.80. After two consecutive quarters of declining sales, Tesla reported third-quarter deliveries exceeding expectations, despite a subsequent drop in stock price attributed to lower-than-expected whisper numbers and concerns over sales of its top models. Analysts anticipate positive earnings for the quarter, but mixed views remain about upcoming events, such as the Robotaxi unveil and their potential impact on future sales and stock performance.
Image via Shutterstock
Prepare for the day’s trading with top premarket movers and news by Benzinga.
Read Next:
This story was generated using Benzinga Neuro and edited by Shivdeep Dhaliwal
Market News and Data brought to you by Benzinga APIs
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
PepsiCo to Buy Siete in a $1.2B Deal: Will it Boost the Stock?
PepsiCo, Inc. PEP benefits from strength in core categories, diversified portfolio, modernized supply chain, improved digital capabilities and flexible go-to-market distribution systems. In the latest revelation, the company has agreed to buy Garza Food Ventures LLC, dba Siete Foods (Siete), worth $1.2 billion.
More on PEP’s Latest Transaction
Founded 10 years back, Siete offers Mexican-American food. This deal looks forward to complementing PepsiCo’s portfolio by adding this attractive Mexican-American brand, apart from expanding the better-for-you offerings.
The deal will add new heritage-inspired Siete products to PepsiCo’s portfolio. Siete makes authentic tortillas, salsas, seasonings, sauces, cookies and snacks, among others. Its products are available in grocery stores, club stores and organic food retailers mainly in the United States.
Image Source: Zacks Investment Research
Hence, PepsiCo is quite excited to carry forward the legacy of the Garza family. Management looks to create and expand PEP’s multicultural portfolio with the incredible food offerings of Siete. This will further strengthen its snacking category and enable it to reach out to more consumers with Siete’s authentic food offerings.
PepsiCo’s Other Notable Efforts
PepsiCo’s robust strategies position it well for growth ahead. The company is focused on boosting greater efficiency by reducing costs and investing these savings back to develop scale and core capabilities. PEP expects to achieve the productivity goal through savings generated from restructuring actions. Such actions aim at further simplifying, synchronizing and automating processes.
The company also concentrates on holistic cost-management initiatives to boost productivity. It uses these savings to mitigate cost inflation and prioritize investments in its brands as well as for innovation and channel expansion. Such cost-management initiatives have been aiding PEP’s margins for a while. In addition, it has been reinforcing its international footprint.
PEP’s Performance
Shares of this beverage giant have gained 6.2% in the past three months compared with the industry’s 9.2% growth. The company has been facing challenges in its North American operations since the start of 2024, affecting its overall sales performance.
Nevertheless, the aforesaid transaction, coupled with its robust strategic efforts, will likely boost this Zacks Rank #3 (Hold) company’s performance.
Stocks to Consider
The Chef’s Warehouse CHEF, which is a distributor of specialty food products in the United States, currently sports a Zacks Rank #1 (Strong Buy).
CHEF has a trailing four-quarter earnings surprise of 33.7%, on average.
The Zacks Consensus Estimate for CHEF’s current financial-year sales and earnings per share indicates growth of 9.7% and 12.6%, respectively, from the year-ago numbers.
Flowers Foods FLO offers baked items and has a Zacks Rank # 2 (Buy) at present. FLO has a trailing four-quarter average earnings surprise of 1.9%.
The Zacks Consensus Estimate for Flowers Foods’ current financial-year sales and EPS implies growth of 1% and 5%, respectively, from the year-ago numbers.
Nomad Foods NOMD, which manufactures frozen foods, currently carries a Zacks Rank of 2. NOMD has a trailing four-quarter earnings surprise of 3.1%, on average.
The Zacks Consensus Estimate for Nomad Foods’ current financial-year sales and EPS indicates growth of 4.3% and 12.6%, respectively, from the year-ago numbers.
Market News and Data brought to you by Benzinga APIs
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
How Much Will Nvidia Pay Out in Dividends This Year?
In 2012, Nvidia (NASDAQ: NVDA) declared its first dividend. At the time, the payout was worth around $0.001875 per share on a split-adjusted basis, equating to a dividend yield of around 2%.
Since then, the dividend payment per share has risen dramatically. But the total amount the company is paying in dividends today might surprise you.
This is how much Nvidia is paying out in dividends
Following a recent raise, Nvidia’s dividend payout has climbed to $0.01 per share each quarter — five times its original payment. But due to a rapid rise in its share price — over the past decade, shares have increased in value by more than 27,000% — the dividend yield has actually fallen to just 0.03%. Nvidia’s management team simply believes that the best use of its cash today is to grow the business, not to distribute it to shareholders.
Assuming the new higher rate is sustained, the next 12 months should see the company pay out $0.04 per share. That works out to roughly $1 billion in dividends — a quarterly rate of around $246 million.
But given its much-higher profits, where is Nvidia investing its resources, if not in dividends? Over the past 12 months, around $1.9 billion has gone to capital expenditures. But research and development has seen the lion’s share of spending, with more than $10 billion deployed over the last year.
The rise of artificial intelligence has just begun, and Nvidia’s graphics processing units (GPUs) are a critical component of the industry’s growth. Not only will Nvidia need to invest in new manufacturing facilities to meet burgeoning demand, but its research and development budget will likely need to expand even further to fend off rising competition. Suffice it to say: Don’t expect Nvidia to become a dividend juggernaut anytime soon. Nearly all of its excess cash will be used to defend its leadership in the nascent but rapidly growing AI industry.
Should you invest $1,000 in Nvidia right now?
Before you buy stock in Nvidia, consider this:
The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Nvidia wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.
Consider when Nvidia made this list on April 15, 2005… if you invested $1,000 at the time of our recommendation, you’d have $716,988!*
Stock Advisor provides investors with an easy-to-follow blueprint for success, including guidance on building a portfolio, regular updates from analysts, and two new stock picks each month. The Stock Advisor service has more than quadrupled the return of S&P 500 since 2002*.
*Stock Advisor returns as of September 30, 2024
Ryan Vanzo has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Nvidia. The Motley Fool has a disclosure policy.
How Much Will Nvidia Pay Out in Dividends This Year? was originally published by The Motley Fool
AI Boom and Rate Cuts Boost Utility Stocks: Best Growth Picks
Utility companies—those that provide electricity, water, natural gas, and other essential services for residential and commercial customers—have had a banner year. The benchmark Utilities Select Sector SPDR Fund XLU has climbed by about 31% in the last year, with the bulk of those gains having occurred in the last six months.
Many investors have flocked to utility stocks in recent months in anticipation of the Federal Reserve’s first rate cut in several years, which was confirmed at the Federal Open Market Committee meeting in September. With inflation dropping and a cooling jobs market, cautious investors unsure of the impact of the rate cut seek out utility stocks for their defensive capabilities.
Because of their essential nature, utility stocks tend to remain steady even in times of market turmoil. Many also have a strong history of paying out dividends. However, the rapid rise of the AI industry has prompted a surge in electricity demand, with Goldman Sachs estimating data center power demand will grow by 160% through 2030. This marks a major boon for many utility firms as well.
DTE: Strong Financial Position, Infrastructure Investment
DTE Energy Co. DTE provides electricity and gas service to customers in Michigan and conducts an energy trading business. Despite its limited geographical range, DTE’s target area is fast-growing, and demand for power is increasing alongside rapid population and economic growth.
DTE maintains a solid financial position, with operating EPS climbing by 44.4% year-over-year in the most recent quarter, driven by its electricity business. Analysts expect earnings growth to continue, and the company also offers an impressive 15-year history of dividend increases and a solid dividend yield of 3.23%.
This firm is also expanding strategically in terms of its preexisting electricity and gas infrastructure—it has already invested $2 billion in this area this year, with at least another $2 billion to come by the end of the year—and in a burgeoning solar operation. The company broke ground in September on a solar farm that is expected to generate power for 40,000 homes.
PCG: Well-Positioned for Data Center Demand Increase
PG&E Corp. PCG serves the northern and central regions of California, traditionally a hotspot for tech firms and data center demand. Indeed, in a June investor update, the company noted that data center capacity totaling 3.5GW—enough to power about three million homes—is due to come online by 2030.
Between 2023 and 2040, PG&E expects its overall load to grow by 2-4%, with about half of that coming from data center usage.
Coupled with the anticipated increase in demand is PG&E’s relative undervaluing compared with other utility companies. The firm has a forward P/E ratio of 14.6, and analysts have noted an average price target of $21.55, which is almost 9% higher than the current share price.
Together, this makes PG&E both a strong defensive play in case of market upheaval as well as a strategic bet on the growth of AI and cloud computing needs.
VST: Deserving of the Hype?
Vistra Corp. VST has drawn attention this year as the top-performing stock in the S&P 500, beating out even the likes of chip manufacturing super-stock NVIDIA Corp. with 1-year returns of nearly 250%. Despite this massive rally, many analysts still rate Vistra as a “Buy,” seeing room for additional growth based on the strength of data center demand and the company’s acquisition history.
Vistra serves electricity and natural gas customers across the U.S. It is positioned to benefit from growing electricity demand among data center operators through its growing nuclear business.
Vistra recently completed the acquisition of its remaining 15% non-controlling interest in Vistra Vision, its nuclear generation, energy storage, and renewables subsidiary.
With firms like Constellation Energy Corp. CEG planning to focus on nuclear energy to meet data center demand, Vistra’s acquisition sets it up to thrive in this space.
Buy-and-Hold Opportunity
Utility stocks like those above represent a buy-and-hold opportunity for investors looking to capitalize on dividends for passive income. Entering positions in utility stocks now may also provide investors access to firms on the cusp of major growth thanks to a wave of new demand requests for electricity to power a fast-growing AI industry.
The article “AI Boom and Rate Cuts Boost Utility Stocks: Best Growth Picks” first appeared on MarketBeat.
Market News and Data brought to you by Benzinga APIs
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Southwest Airlines Director Rakesh Gangwal Invests Over $100M In Shares Amid Elliott Management's Pressure For Leadership Changes
Rakesh Gangwal, a director at Southwest Airlines Co LUV, has made a significant investment in the company by acquiring 3.6 million shares, valued at over $100 million. This purchase comes amid mounting pressure from activist investor Elliott Investment Management for changes in leadership.
What Happened: Gangwal, who co-founded InterGlobe Aviation, bought the shares between Sep. 30 and Oct. 1, at prices ranging from $29 to $30 per share, as per the Securities and Exchange Commission filings.
Appointed to the board in July, Gangwal’s entry coincided with Elliott’s push for strategic shifts to boost financial performance. Recently, Southwest announced significant board changes, including the retirement of Executive Chairman Gary Kelly and six other directors.
Despite Elliott’s demands for further changes, including the removal of CEO Bob Jordan, Gangwal told Reuters that additional leadership alterations would not benefit shareholders.
“I believe changing the board structure and top leadership beyond what has been already announced, would be counterproductive and not in the best interest of shareholders,” Gangwal said.
See Also: Cramer Says ‘Hot Money’ Flowing From Nvidia, Apple Into China, Focus On Alibaba ‘If You Must’
Why It Matters: The backdrop to Gangwal’s investment is a period of intense scrutiny and pressure from Elliott Investment Management, which has been vocal about its dissatisfaction with Southwest’s management. In August, Elliott disclosed a 7% stake in the airline, advocating for a management overhaul, including the replacement of CEO Jordan and Executive Chairman Kelly.
In a strategic move, Elliott nominated ten independent candidates for the board, aiming to reshape Southwest’s leadership. This came after Elliott criticized the airline’s outdated strategies and poor execution, promising a 77% stock return potential if changes were implemented.
Amid these developments, Southwest Airlines announced a new $2.5 billion share repurchase program, signaling a focus on shareholder value. The airline’s stock has experienced fluctuations, reflecting investor reactions to these ongoing boardroom dynamics.
Price Action: Southwest Airlines’ stock closed at $29.57 on Wednesday, down 1.04% for the day. In after-hours trading, the stock rose by 2.19%. Year to date, Southwest Airlines has gained 3.83%, according to data from Benzinga Pro.
Read Next:
Image Via Shutterstock
This story was generated using Benzinga Neuro and edited by Kaustubh Bagalkote
Market News and Data brought to you by Benzinga APIs
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Consumer Preferences in Food Colors: A Deep Dive into Market Trends | The Road to $6.0 Billion
Delray Beach, FL, Oct. 02, 2024 (GLOBE NEWSWIRE) — The Food colors market is a rapidly growing segment within the food and beverage industry, driven by the increasing demand for visually appealing and natural products. Food colors are used to enhance the aesthetic appeal of food and beverages, improving consumer experience and marketability.
The expansion of the processed and packaged food and beverage industries is closely tied to the rising demand for food colors. The food colors market size is projected to reach USD 6.0 billion by 2028, growing from USD 4.6 billion by 2023 growing at a CAGR of 5.4% from 2023 to 2028. During food processing, various techniques, both thermal and non-thermal, are employed, which can affect the natural color of food items due to factors like temperature, moisture, and pH levels. As a result, the need for food colors has grown, as they are essential for restoring and enhancing the visual appeal of processed food products.
Innovating with Food Colors: How Manufacturers Enhance Appeal in a Competitive Market
The need to enhance product appeal has become a key factor in the driving the food colors market growth. With the popularity of social media sites like YouTube and Instagram, product differentiation is greatly influenced by aesthetics. Color is a vital tool for manufacturers as visually appealing products attract ever more consumers. Similarly, vibrant and colorful foods also excite children and promote eating. A study conducted by the International Food Information Council (IFIC) found that 64% of consumers give appearance a high priority when making purchases. In order to meet consumer expectations and differentiate themselves in a crowded market, manufacturers are driven to innovate with food colors due to the emphasis placed on visual appeal.
For In-depth Information, Grab your PDF Brochure!
How is Europe leading the demand for food colors compared to other regions?
Europe leads the global food colors market, driven by its dynamic and diverse food and beverage industry. The region’s high demand for food colors can be attributed to the substantial number of food and beverage processing businesses, with Eurostat reporting 291,000 such businesses in the EU in 2020, employing 4.6 million people and contributing USD 258.8 billion to the GDP. In 2021, EU citizens spent an average of USD 4,101.6 on food, beverages, and catering services, highlighting strong consumer demand for processed food and beverages. Additionally, Europe’s preference for natural food coloring and its stringent regulations further fuel the European food colors market growth.
Rising Demand for Natural Colors: A Key Trend in the Food Colors Industry
The natural colors segment is expected to become both the largest and fastest-growing segment by 2028. This surge in demand is largely attributed to shifting consumer preferences towards clean, healthy, and eco-friendly food ingredients. Natural food colors, derived from fresh fruits and vegetables, also offer added health benefits. Commonly used natural colors in the food industry include carmine, anthocyanins, caramel, annatto, carotenoids, chlorophyll, and spirulina. In contrast, the use of synthetic colors in food products is restricted and regulated by federal authorities in various countries, further boosting the demand for natural colors.
Industry Leaders: A Look at the Top Food Colors Companies
- ADM (US)
- International Flavors and Fragrances Inc. (US)
- Sensient Technologies Corporation (US)
- DSM (Netherlands)
- Naturex (France)
- DDW (US)
- Dohler Group (Germany)
- Fiorio Colori (Italy)
- LycoRed (Israel)
- Kalsec Inc. (US)
Schedule a call with our Analysts to discuss your business needs
Leveraging Adjacent Markets
About MarketsandMarkets™ MarketsandMarkets™ has been recognized as one of America's best management consulting firms by Forbes, as per their recent report. MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients. Earlier this year, we made a formal transformation into one of America's best management consulting firms as per a survey conducted by Forbes. The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing. Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry. To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook. Contact: Mr. Rohan Salgarkar MarketsandMarkets Inc. 1615 South Congress Ave. Suite 103, Delray Beach, FL 33445 USA : 1-888-600-6441 UK +44-800-368-9399 Email: sales@marketsandmarkets.com Visit Our Website: https://www.marketsandmarkets.com/
Market News and Data brought to you by Benzinga APIs
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Russian court freezes funds of US banks JP Morgan and Mellon
(Reuters) – The Moscow Region Arbitration Court on Wednesday froze funds of the U.S. Bank of New York Mellon held by the Russian branch of Citibank as well as funds of JP Morgan Chase held by its Russian affiliate of Morgan Chase Bank amounting in total to about $372 million.
The court decision said the action was initiated by Russia’s deputy prosecutor “in defence of the interests of the Russian Federation” in connection with the Ukrainian central bank’s withdrawal of the licence of MR bank with plans to wind up the bank by 2025.
The prosecutor’s office launched the action late last month against Ukrainian regulators and the two U.S. banks – Bank of New York Mellon and JP Morgan Chase Bank recognising the action as “expropriation” of the property of MR bank – Ukrainian subsidiary of Russia’s largest bank, Sberbank. It said the action infringed the state’s lawful interests.
The prosecutor’s office sought recognition of $121 million placed by MR bank in an account of JP Morgan Chase as the rightful property of Sberbank and $251 million placed in an account of the Bank of New York Mellon – amounting to a total sum of damages of $372 million.
According to court documents, the action resulted in Sberbank being denied judicial control over its subsidiary and the right to dispose of its income, meaning that the state “lost the opportunity to securе its own income from the activity abroad of MR bank.”
Both Sberbank and JP Morgan declined to comment on the court action.
(Reporting by Reuters; Editing by Matthew Lewis)
NOVONIX to Host Third Quarter 2024 Operations Update and Participate in OTC Small Cap Growth Conference
BRISBANE, Australia, Oct. 02, 2024 (GLOBE NEWSWIRE) — NOVONIX Limited NVXNVX)) (“NOVONIX” or “the Company”), a leading battery materials and technology company, today announced that it plans to release its Quarterly Activities Report for the quarter ended September 30, 2024, on Wednesday, October 30, 2024. Dr. Chris Burns, CEO of NOVONIX, will also provide prepared remarks on the quarter.
The webcast link and presentation materials will be available Wednesday, October 30, 2024, at 8:30 am AEDT, or Tuesday, October 29, 2024, after markets close at 5:30 pm EDT, for interested parties in the United States.
The Company is also scheduled to participate in the OTC Small Cap Growth Virtual Investor Conference on October 10, 2024, at 10:00 am EDT (New York).
The webcast links and presentation material will be available for both events on the NOVONIX investor relations website.
This announcement has been authorized for release by NOVONIX Chairman, Admiral Robert J. Natter, USN Ret.
About NOVONIX
NOVONIX is a leading battery technology company revolutionizing the global lithium-ion battery industry with innovative, sustainable technologies, high-performance materials, and more efficient production methods. The Company manufactures industry-leading battery cell testing equipment, is growing its high-performance synthetic graphite anode material manufacturing operations, and has developed a patented all-dry, zero-waste cathode synthesis process. Through advanced R&D capabilities, proprietary technology, and strategic partnerships, NOVONIX has gained a prominent position in the electric vehicle and energy storage systems battery industry and is powering a cleaner energy future.
To learn more, visit us at www.novonixgroup.com or on LinkedIn and X.
For NOVONIX Limited
Scott Espenshade, ir@novonixgroup.com (investors)
Stephanie Reid, media@novonixgroup.com (media)
Market News and Data brought to you by Benzinga APIs
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Sluggish sales and rising inventories see Fraser Valley moving toward a buyer's market
SURREY, British Columbia, Oct. 02, 2024 (GLOBE NEWSWIRE) — With active inventories hitting levels not seen in 10 years and sales 30 per cent below the 10-year average, Fraser Valley real estate is building towards a buyer’s market if sales continue to lag.
The Fraser Valley Real Estate Board recorded 982 sales in September, down by eight per cent over August and by more than 10 per cent over September 2023. Again, seasonally adjusted sales were the second slowest in a decade in the Fraser Valley.
“With three rate cuts already and more expected before the end of the year, buyers are watching the market closely to time their purchasing decisions,” said Jeff Chadha, Chair of the Fraser Valley Real Estate Board. “The current conditions should favour buyers, particularly in the detached market, however until we start to see some movement in asking prices, properties will continue to sit on the market for extended periods as both buyers and sellers await the next rate announcement.”
New listings rose in September, up 21 per cent to 3,352, an increase of 17 per cent year-over-year. Overall inventory increased five per cent from August to September to 9,045, up 39 per cent over last year. The combination of declining sales and rising inventories has helped to create balanced, and in some cases, buyers’, market conditions in the Fraser Valley.
“We know the demand is there among Fraser Valley buyers,” said Baldev Gill, CEO of the Fraser Valley Real Estate Board. “After months on the sidelines, buyers want to get into the market but many also need to sell before they can buy. When you factor in affordability challenges and the anticipation of more interest rate cuts, we are seeing persistent weakness in the market. In conditions like these, we encourage buyers and sellers alike to talk to their REALTOR® to assess the risks and opportunities before making a decision.”
Across the Fraser Valley in September, the average number of days to sell a single-family detached home was 35, while for a condo it was 37. Townhomes took, on average, 30 days to sell.
Benchmark prices in the Fraser Valley dipped again in September, with the composite Benchmark price down 1.4 per cent to $978,800.
MLS® HPI Benchmark Price Activity
- Single Family Detached: At $1,501,100, the Benchmark price for an FVREB single-family detached home decreased 1.5 per cent compared to August 2024 and decreased 1.3 per cent compared to September 2023.
- Townhomes: At $834,400, the Benchmark price for an FVREB townhome decreased 1.4 per cent compared to August 2024 and decreased 1.6 per cent compared to September 2023.
- Apartments: At $545,000, the Benchmark price for an FVREB apartment/condo decreased 0.2 per cent compared to August 2024 and increased 0.4 per cent compared to September 2023.
The Fraser Valley Real Estate Board is an association of 5,225 real estate professionals who live and work in the BC communities of Abbotsford, Langley, Mission, North Delta, Surrey, and White Rock.
| Contact Nikki Hewitt, Senior Communications Specialist Fraser Valley Real Estate Board |
nikki.hewitt@fvreb.bc.ca Telephone: 604.930.7654 www.fvreb.bc.ca FVREB Stats |
|
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/27caa870-99d8-45cf-8f00-510d74fa79a4
Market News and Data brought to you by Benzinga APIs
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.