Tesla Gains 55% In A Month With Strong China Role, Bullish Signals
Tesla Inc. TSLA continues to defy expectations, not just as a trailblazer in the electric vehicle (EV) market but also as a juggernaut in the stock market.
With its stock up 45.02% over the past year, 36.72% year-to-date, and 55.82% in just the last month, TSLA stock has firmly established itself in bullish territory.
Chart created using Benzinga Pro
The technical signals back this sentiment. Tesla’s stock price of $339.64 sits comfortably above its eight, 20 and 50-day simple moving averages, signaling a strong upward trend. The Moving Average Convergence/Divergence (MACD) indicator, at 25.85, underscores the stock’s upward momentum, further supporting a bullish outlook.
Meanwhile, the Relative Strength Index (RSI) of 66.95 suggests TSLA is approaching overbought levels, reflecting a mix of optimism and caution among traders. However, the stock still appears to have room for upward movement in the near term.
The Role Of China In Tesla’s Stock Story
China, the largest EV market in the world, remains pivotal to Tesla’s growth strategy. The Shanghai Gigafactory is not just a cornerstone of Tesla’s global production but also a key revenue driver, contributing nearly a quarter of the company’s total income.
While this reliance has helped Tesla dominate in China, it also makes the company vulnerable to U.S.-China trade tensions. If tariffs on key EV components like lithium-ion batteries escalate, it could squeeze Tesla’s margins or limit its ability to pass on costs to consumers.
However, Tesla’s efforts to strengthen relationships with policymakers, both in the U.S. and abroad, may provide a safety net.
Investors have taken these geopolitical risks in stride, and TSLA stock has shown resilience even as broader market uncertainty persists.
Investor Outlook: TSLA In The Driver’s Seat
For TSLA stock investors, the outlook remains compelling. The combination of strong technical momentum and Tesla’s strategic position in the EV market suggests further room for growth. However, rising trade tensions and the stock nearing overbought territory suggest cautious optimism.
As Tesla balances its global ambitions with domestic trade policies, the company’s ability to navigate these challenges will likely shape its stock’s trajectory.
For now, the technicals remain firmly bullish, and TSLA investors are keeping their eyes on the road ahead.
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Ask an Advisor: We're 70 With $1.4M in an IRA and $99k in Retirement Income. Is a Roth Conversion Still an Option?
My wife and I are 70 years old. We’ve paid off everything, including the house. Between my pension of $29,000 and Social Security, we’re getting a gross of $99,000 a year in income, which is more than enough. Our current savings in our brokerage account are $700,000. Our individual retirement account (IRA) totals $1.4 million. Our Roth is worth $400,000. We both anticipate living to age 90. At our age, is it too late to do a Roth conversation?
-Anonymous
The short answer is no. There is no age cap on your ability to convert to a Roth.
There is also no earned income requirement to convert to a Roth. As long as you have a balance in an IRA, in theory, you can keep converting to a Roth as long as you like.
The bigger question is this: Does converting to a Roth further your goals for the legacy of your wealth?
This should be the starting place before beginning a Roth conversion strategy regardless of your age. But it becomes particularly important when you are considering Roth conversions as you approach and start taking required minimum distributions (RMDs).
Most articles and conversations around converting to a Roth will focus on the years between retirement and taking RMDs. Those years can present a fantastic opportunity to convert IRA dollars to a Roth. But they are not your only opportunity. Answer this question: What do I want to happen to my wealth when I die? The answer is in the details. Here’s how to think through this strategy.
A financial advisor may help you understand how to manage the tax repercussions of a Roth conversion.
An Argument Against a Roth Conversion
On one end of the spectrum, let’s assume that all of your wealth will be given to your favorite charity when you die. If a qualified charity receives your IRA when you pass away, there will be no taxes due, and you should strongly consider not converting any of your IRA balance to a Roth during your lifetime.
In that case, converting to a Roth would be choosing to pay taxes that you could otherwise never have to pay.
A Case for a Roth Conversion
The opposite extreme would be if your goal is to leave all of your wealth to your children, grandchildren or other loved ones – and to make sure that they never have to worry about paying taxes on those dollars.
In this case, an argument could be made for attempting to convert every last dollar of your IRA balance to a Roth before you die. That way, your beneficiaries will receive an enormous tax-free pie, and the IRS doesn’t get to share a single slice. This may not result in the most tax savings, but it would be the best way to make sure your beneficiaries don’t worry about taxes.
As MSTR's Michael Saylor Says Warren Buffett Is 'Destroying' Berkshire Capital, Analyst Suggests 'Overpriced…Hot Stock Market' Could Be The Reason Oracle Of Omaha Is Sitting On $325B Cash
After Warren Buffett‘s conglomerate Berkshire Hathaway Inc BRK BRK declared its third-quarter results in early November, investors have been curious as to why he sitting on nearly $325 billion in cash and equivalents.
What Happened: Analysts have been speculating an array of reasons for the world’s most famous value investor to be holding such a huge pile of cash. It could be for an acquisition plan, a buyback plan in case of a succession, or an expectation of a market fall.
The stock markets have been trading higher than their pre-election levels with a looming threat of a possible pause in the interest rate cuts. This has led analysts to wonder if Berkshire is avoiding investing because he cannot find any value in the markets at the current level.
“What some describe as a hot stock market, Warren Buffett would describe as overpriced,” Cathy Seifert, a director at CFRA Research told Fortune.
Buffet’s current stance on the cash “reflects a fundamental skepticism about the sustainability of current market valuations, the sustainability of the Trump trade, combined with the fact that they’re not seeing a lot of acquisition targets that are appealing to them,” she said.
The 94-year-old Buffet will be succeeded by Greg Abel to run Berkshire. “The unfortunate actuarial reality is, at some point in time, you have a change in senior management, and I suspect that they want to have a lot of cash to buy back Berkshire Hathaway stock,” said Meyer Shields, managing director at Keefe, Bruyette & Woods to Fortune. He implied that freely available cash can be utilized in case of a sell-off to benefit the shareholders
On the other hand, MicroStrategy Inc‘s MSTR co-founder, Michael Saylor has said that Buffett is destroying billions of dollars in capital by not utilizing the cash at their disposal to invest in Bitcoin BTC/USD.
“That $320 billion.. that is destroying $32 billion a year. They are destroying $3 billion a month in capital because they’re generating a 3% after-tax yield at best, and the cost of capital is 15%. So take 12% negative real yield,” Saylor said.
Why It Matters: By holding cash and equivalents Berkshire could be making only “3% after-tax yield at best, and the cost of capital is 15%. So take 12% negative real yield,” said MicroStrategy’s Saylor
While analysts speculate various reasons, Saylor in a podcast with Patrick Bet-David made a case for Buffet to invest in Bitcoin. “I’d want to bet you that if I had an hour alone with Buffett in a calm environment, I’d walk out and he would say this Bitcoin thing is a pretty good idea.”
Saylor was optimistic that Buffett would have wanted to buy Bitcoin after the interaction and would come out saying that the late Charlie Munger would have liked the idea.
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Manulife Investment Management Announces November 2024 Cash Distributions for Manulife Exchange Traded Funds and Manulife ETF Series
C$ unless otherwise stated TSX/NYSE/PSE: MFC SEHK: 945
TORONTO, Nov. 22, 2024 /CNW/ – Manulife Investment Management today announced the November 2024 cash distributions for Manulife Exchange Traded Funds (ETFs) and Manulife ETF series that distribute monthly. Unitholders of record at the close of business on November 29, 2024, will receive cash distributions payable on December 13, 2024.
Details of the distribution per unit amounts are as follows:
|
ETF |
Ticker |
Distribution (per unit) ($) |
Distribution |
|
Manulife Smart Short-Term Bond ETF |
TERM |
0.025902 |
Monthly |
|
Manulife Smart Core Bond ETF |
BSKT |
0.025406 |
Monthly |
|
Manulife Smart Corporate Bond ETF |
CBND |
0.030424 |
Monthly |
|
Manulife Smart Global Bond ETF |
GBND |
0.029122 |
Monthly |
|
Manulife Smart Enhanced Yield ETF |
CYLD |
0.150000 |
Monthly |
|
Manulife Smart U.S. Enhanced Yield ETF – Unhedged |
UYLD.B |
0.150000 |
Monthly |
|
Manulife Smart U.S. Enhanced Yield ETF – US Dollar |
UYLD.U |
0.150000* |
Monthly |
|
Manulife Smart U.S. Enhanced Yield ETF – Hedged |
UYLD |
0.150000 |
Monthly |
|
Manulife Strategic Income Fund – ETF Series |
STRT |
0.023847 |
Monthly |
|
Manulife Alternative Opportunities Fund – ETF Series |
OPPS |
0.030369 |
Monthly |
|
Manulife Strategic Income Plus Fund – ETF Series |
PLUS |
0.037411 |
Monthly |
|
*Distribution amount ($) in USD. |
Commissions, management fees and expenses all may be associated with exchange traded funds (ETFs) and ETF series. Please read the ETF Facts and prospectus before investing. ETFs and ETF series are not guaranteed, their values change frequently, and past performance may not be repeated. Manulife ETFs and Manulife ETF series are managed by Manulife Investment Management. Manulife Investment Management is a trade name of Manulife Investment Management Limited.
Manulife Alternative Mutual Funds have the ability to invest in asset classes or use investment strategies that are not permitted for conventional mutual funds. The specific strategies that differentiate these alternative mutual funds from conventional mutual funds may include the increased use of derivatives for hedging and non-hedging purposes, the increased ability to sell securities short and the ability to borrow cash to use for investment purposes. If undertaken, these strategies will be used in accordance with the funds’ objectives and strategies, and during certain market conditions, may accelerate the pace at which the funds decrease in value.
About Manulife Wealth & Asset Management
As part of Manulife Financial Corporation, Manulife Wealth & Asset Management provides global investment, financial advice, and retirement plan services to 19 million individuals, institutions, and retirement plan members worldwide. Our mission is to make decisions easier and lives better by empowering people today to invest for a better tomorrow. As a committed partner to our clients and as a responsible steward of investor capital, we offer a heritage of risk management, deep expertise across public and private markets, and comprehensive retirement plan services. We seek to provide better investment and impact outcomes and to help people confidently save and invest for a more secure financial future. Not all offerings are available in all jurisdictions. For additional information, please visit manulifeim.com.
About Manulife
Manulife Financial Corporation is a leading international financial services provider, helping people make their decisions easier and lives better. With our global headquarters in Toronto, Canada, we provide financial advice and insurance, operating as Manulife across Canada, Asia, and Europe, and primarily as John Hancock in the United States. Through Manulife Investment Management, the global brand for our Global Wealth and Asset Management segment, we serve individuals, institutions, and retirement plan members worldwide. At the end of 2023, we had more than 38,000 employees, over 98,000 agents, and thousands of distribution partners, serving over 35 million customers. We trade as ‘MFC’ on the Toronto, New York, and the Philippine stock exchanges, and under ‘945’ in Hong Kong. Not all offerings are available in all jurisdictions. For additional information, please visit manulife.com.
SOURCE Manulife Investment Management
View original content: http://www.newswire.ca/en/releases/archive/November2024/22/c3109.html
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Top Wall Street Forecasters Revamp Blue Bird Price Expectations Ahead Of Q4 Earnings
Blue Bird Corporation BLBD will release earnings results for its fourth quarter, after the closing bell on Monday, Nov. 25.
Analysts expect the Macon, Georgia-based bank to report quarterly earnings at 65 cents per share, down from 66 cents per share in the year-ago period. Blue Bird projects to report revenue of $343.95 million for the recent quarter, compared to $302.96 million a year earlier, according to data from Benzinga Pro.
On Oct. 28, Blue Bird named Edward Hightower to its Board of Directors.
Blue Bird shares gained 2% to close at $40.08 on Thursday.
Benzinga readers can access the latest analyst ratings on the Analyst Stock Ratings page. Readers can sort by stock ticker, company name, analyst firm, rating change or other variables.
Let’s have a look at how Benzinga’s most-accurate analysts have rated the company in the recent period.
- BTIG analyst Gregory Lewis initiated coverage on the stock with a Buy rating and a price target of $55 on Oct. 9. This analyst has an accuracy rate of 75%.
- DA Davidson analyst Michael Shlisky maintained a Buy rating and raised the price target from $66 to $67 on Aug. 9. This analyst has an accuracy rate of 61%.
- Craig-Hallum analyst Eric Stine maintained a Buy rating and increased the price target from $54 to $65 on May 24. This analyst has an accuracy rate of 60%.
Considering buying BLBD stock? Here’s what analysts think:
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Ark Invest's Cathie Wood Says Team Trump Would Give 'Regulatory Clarity' For Bitcoin And Other Digital Assets: '…Which They May Put In The Treasury's Strategic Reserve'
Cathie Wood, CEO of ARK Invest, has shared her insights on the potential impact of a Trump administration on Bitcoin BTC/USD and decentralized finance (DeFi). Wood believes that the administration could bring much-needed “regulatory clarity” to the fintech sector, particularly if Gary Gensler steps down from his position.
What Happened: During a webinar prerecorded on Nov. 15 and published on Friday, Wood discussed how the Trump administration might influence the digital asset revolution, led by Bitcoin.
“If Gary Gensler leaves, that is going to open us up to regulatory clarity and probably, given the Trump administration’s pronouncements over the last few month, give much more focus on digital asset revolution, broadly led by Bitcoin, which they may put in the Treasury’s strategic reserve,” she said.
Wood suggested the possibility of adding Bitcoin to the U.S. Treasury’s strategic reserve, given the current circulation of over 19 million Bitcoin and a cap of 21 million. According to Wood, the government might aim to acquire 1 million Bitcoins over time.
Regarding DeFi, Wood highlighted the potential for peer-to-peer lending to remove intermediaries in financial transactions. Yassin Elmandjra, ARK’s director of digital assets, noted the accelerating trend of using cryptocurrency for commerce, driven by technological and regulatory advancements.
Elmandjra stressed the importance of governments establishing clear regulations on compliance, tax implications, and consumer protection to enable businesses to navigate the evolving landscape effectively.
Why It Matters: Wood’s predictions come amidst her ambitious price targets for Bitcoin, including a bull case of $3.8 million if more companies incorporate the cryptocurrency into their balance sheets. However, a recent Benzinga survey revealed skepticism, with 83% of respondents doubting this target will be met by 2030.
Additionally, ARK Invest has identified an “uptrend” in Bitcoin’s market structure, attributed to oversold conditions in the Stablecoin Supply Ratio Oscillator (SSRO). This indicator, which measures Bitcoin’s potential purchasing power, hit a significant low in September, a level not seen since the 2022 bear market. The SSRO is calculated by dividing Bitcoin’s supply by the supply of major stablecoins, providing insights into Bitcoin’s market dynamics.
Price Action: As per Benzinga Pro, at 8:03 am ET, Bitcoin was trading at $98,764.01, Ethereum ETH/USD at $3,345.98 and Dogecoin DOGE/USD was at $0.4045. In the past 14 days, post the elections, Bitcoin’s value experienced 29.9% increase, Ethereum increased by 14.7% and Dogecoin saw a 105.5% hike.
Meanwhile, ARK 21Shares Bitcoin ETF ARKB, which provides exposure to bitcoin which is kept in cold storage was trading only slightly higher at 0.58% during pre-market hours.
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Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.
Image courtesy: ArkInvest
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Verizon announces early results for tender offers for six series of debt securities and extension of early participation date
NEW YORK, Nov. 22, 2024 (GLOBE NEWSWIRE) — Verizon Communications Inc. (“Verizon”) ((NYSE, NASDAQ:VZ) today announced, in connection with Verizon’s previously announced Offers (as defined below) to purchase its outstanding Securities (as defined below) on the terms and subject to the conditions set forth in the offer to purchase dated November 7, 2024 (the “Offer to Purchase”): (1) the early participation results for the Offers as of 5:00 p.m. (Eastern time) on November 21, 2024 (the “Original Early Participation Date”) and (2) that, with respect to the Offers, the date and time by which Holders (as defined below) must validly tender their Securities to receive the applicable Total Consideration (as defined in the Offer to Purchase) and Accrued Coupon Payment (as defined below), has been extended to 5:00 p.m. (Eastern time) on December 9, 2024 (such date and time with respect to an Offer, the “Extended Early Participation Date”). Accordingly, the Extended Early Participation Date will occur at the same time the Offers are scheduled to expire. Except as described in this press release, the terms and conditions of the Offers remain unchanged.
The deadline to validly withdraw tenders of Securities was not modified by Verizon and the withdrawal rights for each Offer expired at 5:00 p.m. (Eastern time) on November 21, 2024. The Offers will expire at 5:00 p.m. (Eastern time) on December 9, 2024 (the “Expiration Date”), unless extended or earlier terminated by Verizon.
The table below sets forth the early participation results, as of the Original Early Participation Date, for Verizon’s previously announced six separate offers to purchase for cash, with respect to the outstanding series of debt securities (each a “Security” and collectively, the “Securities”) listed in the table below. Verizon refers to each offer to purchase a Security for cash as an “Offer” and all the offers to purchase the Securities, collectively as the “Offers.”
Verizon was advised by Global Bondholder Services Corporation, as the tender agent, that as of the Original Early Participation Date, the aggregate principal amounts of the Securities specified in the table below were validly tendered and not validly withdrawn:
| Acceptance Priority Level |
CUSIP Number(s) | Title of Security | Principal Amount Outstanding |
Principal Amount Tendered as of the Original Early Participation Date |
Percentage of Amount Outstanding Tendered as of the Original Early Participation Date |
||||||||
| 1 | 92343VEN0 / 92343VEB6 / U9221AAY4 | 3.376% notes due 2025 | $1,287,477,000 | $490,854,000 | 38.13% | ||||||||
| 2 | 92343VEP5 | Floating Rate notes due 2025 | $873,918,000 | $373,004,000 | 42.68% | ||||||||
| 3 | 92343VFS8 | 0.850% notes due 2025 | $1,232,569,000 | $542,142,000 | 43.98% | ||||||||
| 4 | 92343VGG3 | 1.450% notes due 2026 | $1,653,140,000 | $803,974,000 | 48.63% | ||||||||
| 5 | 92343VGE8 | Floating Rate notes due 2026 | $493,127,000 | $252,796,000 | 51.26% | ||||||||
| 6 | 92343VDD3 | 2.625% notes due 2026 | $1,776,821,000 | $771,770,000 | 43.44% | ||||||||
Verizon’s obligation to accept Securities tendered in the Offers is subject to the terms and conditions described in the Offer to Purchase, including, among other things, the Acceptance Priority Procedures. The Offers are not conditioned on any minimum amount of Securities being tendered, and none of the Offers is conditioned on the consummation of any of the other Offers.
All conditions applicable to the Offers as of the Original Early Participation Date were deemed satisfied by Verizon, or timely waived by Verizon. Accordingly, Verizon will settle all Securities validly tendered at or prior to the Original Early Participation Date and accepted for purchase, on November 26, 2024 (the “Early Settlement Date”), subject to the terms of the Offers.
Promptly after 10:00 a.m. (Eastern time) today, November 22, 2024, Verizon will issue a press release specifying, among other things, (i) the aggregate principal amount of Securities accepted in each Offer, (ii) the offer yield for each series of fixed-rate Securities, which is equal to the sum of (a) the applicable reference yield, which shall be based on the bid-side price of the applicable Reference U.S. Treasury Security (specified in the Offer to Purchase for such series of Securities) as quoted on the applicable Bloomberg reference page (specified in the Offer to Purchase for such series of Securities) as of 10:00 a.m. Eastern time, today, November 22, 2024, plus (b) the fixed spread for the applicable series of fixed-rate Securities and (iii) the Total Consideration for each series of fixed-rate Securities. The Total Consideration for each series of Securities includes an early participation payment of $50 per $1,000 principal amount of Securities.
Because the aggregate Total Consideration of the Securities validly tendered at or prior to the Original Early Participation Date and accepted for purchase is expected to not exceed the Waterfall Cap (as defined in the Offer to Purchase), Verizon will, until the Expiration Date, continue to accept for purchase all Securities validly tendered after the Original Early Participation Date, subject to all conditions having been satisfied or waived by Verizon with respect to the Offers. The Final Settlement Date (as defined in the Offer to Purchase) is expected to be the second business day after the applicable Expiration Date, unless extended with respect to any Offer.
On each relevant settlement date, holders of Securities (each, a “Holder” and collectively, “Holders”) that are validly tendered and accepted for purchase by Verizon will receive the applicable Total Consideration, in cash, and an additional cash payment equal to the accrued and unpaid interest on such Securities to, but not including, the relevant settlement date (the “Accrued Coupon Payment”).
Verizon has retained BofA Securities, Inc., Santander US Capital Markets LLC, SMBC Nikko Securities America, Inc. and TD Securities (USA) LLC to act as lead dealer managers for the Offers and Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC, Academy Securities, Inc. and R. Seelaus & Co., LLC to act as co-dealer managers for the Offers. Questions regarding terms and conditions of the Offers should be directed to BofA Securities, Inc. at (980) 387-3907 (Collect) or (888) 292-0070 (Toll-Free), Santander US Capital Markets LLC at (212) 350-0660 (Collect) or (855) 404-3636 (Toll Free), SMBC Nikko Securities America, Inc. at (212) 224-5163 (Collect) or (888) 284-9760 (Toll Free), or TD Securities (USA) LLC at (212) 827-2842 (Collect) or (866) 584-2096 (Toll-Free).
Global Bondholder Services Corporation is acting as the tender agent for the Offers. Questions or requests for assistance related to the Offers or for additional copies of the Offer to Purchase may be directed to Global Bondholder Services Corporation at (855) 654-2015 (toll free) or (212) 430-3774 (collect). You may also contact your broker, dealer, commercial bank, trust company or other nominee for assistance concerning the Offers.
This announcement is for informational purposes only. This announcement is not an offer to purchase or a solicitation of an offer to sell any Securities. The Offers are being made solely pursuant to the Offer to Purchase. The Offers are not being made to Holders in any jurisdiction in which the making or acceptance thereof would not be in compliance with the securities, blue sky or other laws of such jurisdiction. In any jurisdiction in which the securities laws or blue sky laws require the Offers to be made by a licensed broker or dealer, the Offers will be deemed to be made on behalf of Verizon by the dealer managers or one or more registered brokers or dealers that are licensed under the laws of such jurisdiction.
This communication and any other documents or materials relating to the Offers have not been approved by an authorized person for the purposes of Section 21 of the Financial Services and Markets Act 2000, as amended (the “FSMA”). Accordingly, this announcement is not being distributed to, and must not be passed on to, persons within the United Kingdom save in circumstances where section 21(1) of the FSMA does not apply. Accordingly, this communication is only addressed to and directed at (i) persons who are outside the United Kingdom, or (ii) persons falling within the definition of investment professionals (as defined in Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the “Financial Promotion Order”)), or (iii) within Article 43 of the Financial Promotion Order, or (iv) high net worth companies and other persons to whom it may lawfully be communicated falling within Article 49(2)(a) to (d) of the Financial Promotion Order (such persons together being “relevant persons”). Any person who is not a relevant person should not act or rely on any document relating to the Offers or any of their contents.
This communication and any other documents or materials relating to the Offers are only addressed to and directed at persons in member states of the European Economic Area (the “EEA”), who are “Qualified Investors” within the meaning of Article 2(1)(e) of Regulation (EU) 2017/1129. The Offers are only available to Qualified Investors. None of the information in the Offer to Purchase and any other documents and materials relating to the Offers should be acted upon or relied upon in any member state of the EEA by persons who are not Qualified Investors.
Each Holder participating in the Offers will give certain representations in respect of the jurisdictions referred to above and generally as set out herein. Any tender of Securities for purchase pursuant to the Offers from a Holder that is unable to make these representations will not be accepted. Each of Verizon, the dealer managers and the tender agent reserves the right, in its absolute discretion, to investigate, in relation to any tender of Securities for purchase pursuant to the Offers, whether any such representation given by a Holder is correct and, if such investigation is undertaken and as a result Verizon determines (for any reason) that such representation is not correct, such tender shall not be accepted.
Cautionary statement regarding forward-looking statements
In this communication Verizon has made forward-looking statements. These forward-looking statements are not historical facts, but only predictions and generally can be identified by use of statements that include phrases such as “will,” “may,” “should,” “continue,” “anticipate,” “believe,” “expect,” “plan,” “appear,” “project,” “estimate,” “hope,” “intend,” “target,” “forecast,” or other words or phrases of similar import. Similarly, statements that describe our objectives, plans or goals also are forward-looking statements. These forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those currently anticipated, including those discussed in the Offer to Purchase under the heading “Risk Factors” and under similar headings in other documents that are incorporated by reference in the Offer to Purchase. Holders are urged to consider these risks and uncertainties carefully in evaluating the forward-looking statements and are cautioned not to place undue reliance on these forward-looking statements. The forward-looking statements included in this press release are made only as of the date of this press release, and Verizon undertakes no obligation to update publicly these forward-looking statements to reflect new information, future events or otherwise. In light of these risks, uncertainties and assumptions, the forward-looking events might or might not occur. Verizon cannot assure you that projected results or events will be achieved.
Media contact:
Eric Wilkens
201-572-9317
eric.wilkens@verizon.com
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Sucro Announces Third Quarter 2024 Results
3rd quarter volume growth of 54% in refining operations
CORAL GABLES, Fla., Nov. 22, 2024 /CNW/ – Sucro Limited SUGR SUGRF (“Sucro” or the “Company”), an integrated sugar refiner focused primarily on serving North American sugar markets, today announced financial results for the three and nine months ended September 30, 2024. All amounts are in United States dollars (“U.S. $” or “$”) unless otherwise noted.
Financial Highlights for the Third Quarter of 2024
- Revenue of $171.9 million on sugar deliveries of 181,023 metric tons, increases over Q3 2023 levels of 23.7% and 48.1%, respectively
- Adjusted gross profit1 of $14.0 million and adjusted gross profit margin1 percentage of 8.1%
- EBITDA1 of $15.5 million, a 36.6% year-over-year increase and Adjusted EBITDA1 of $8.3 million
- Adjusted gross profit per metric ton delivered1,2 of $89.23
- For our refineries, Q3 volumes of 57,093 metric tons, reflecting a 54% year-over-year increase
|
Q3 2024 Highlights (unaudited) |
Three Months Ended Sep 30 |
Nine Months Ended Sep 30 |
||
|
In 000s of U.S. $ except per share and volume metrics. |
2024 |
2023 |
2024 |
2023 |
|
Sugar Deliveries (Metric Tons) |
181,023 |
122,243 |
494,974 |
380,895 |
|
Revenue |
$171,932 |
$139,041 |
$493,967 |
$382,274 |
|
Gross profit |
21,967 |
16,148 |
79,355 |
75,135 |
|
Adjusted gross profit1 |
13,971 |
13,103 |
44,166 |
39,651 |
|
Adjusted gross profit margin1 |
8.1 % |
9.4 % |
8.9 % |
10.4 % |
|
EBITDA1 |
15,455 |
11,316 |
60,155 |
59,583 |
|
Adjusted EBITDA1 |
8,315 |
8,227 |
27,096 |
24,755 |
|
Adjusted EBITDA Margin1 |
8.99 % |
8.14 % |
5.49 % |
6.48 % |
|
Net Income (Loss) |
7,438 |
1,983 |
31,136 |
30,355 |
|
Per share (basic) |
1.06 |
0.27 |
4.49 |
4.17 |
|
Per share (diluted) |
0.31 |
0.09 |
1.32 |
1.38 |
|
Adjusted gross profit per metric ton delivered1,2 |
77.18 |
107.19 |
89.23 |
104.10 |
|
Free cash flow1 |
1,348 |
3,491 |
8,525 |
6,755 |
|
Refineries Results: |
||||
|
Refineries Volume (Metric Tons) |
57,093 |
37,074 |
162,460 |
126,037 |
|
Adjusted gross profit1 |
$7,917 |
$5,804 |
$23,978 |
$16,760 |
|
Adjusted gross profit per metric ton delivered1 |
138.68 |
156.54 |
147.59 |
132.98 |
|
1. Per share figures for periods prior to Dec. 31, 2023, are adjusted for the Reorganization. Basic calculation counts each PVS as one share. |
||||
|
2. This is not a standardized financial measure under IFRS and may not be comparable to similar financial measures of other issuers. Please refer to “Non-IFRS |
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“Our strong Q3 results are a testament to the success of our refining strategy and the resilience of our integrated supply chain,” said Jonathan Taylor, Founder and Chief Executive Officer of Sucro. “Increased refining volumes at our Hamilton and Lackawanna refineries have driven significant revenue growth and operational efficiencies. These achievements underscore our ability to scale production and meet rising customer demand while maintaining profitability.”
Taylor added, “As we continue executing on our capacity expansion projects, including our upcoming Hamilton and University Park refineries, we are well-positioned to deliver on our long-term growth plans.”
Taylor further commented “Alongside our efforts to continually improve the output of our Lackawanna and Hamilton facilities, we continue to be focused on executing our refinery expansion projects in both Hamilton and Chicago. The Hamilton refinery construction has made significant progress and we believe we are well positioned to begin refinery operations on or ahead of schedule. We will provide a further detailed update alongside our year-end results for 2024.
Results from Operations – Three Months Ended September 30, 2024
|
Q3 2024 Highlights (unaudited) |
Three Months Ended Sep 30 |
|
|
In 000s of U.S. $ except per share and volume metrics. |
2024 |
2023 |
|
Sugar Deliveries (Metric Tons) |
181,023 |
122,243 |
|
Revenue |
$171,932 |
$139,041 |
|
Gross Profit |
21,967 |
16,148 |
|
Adjusted gross profit2 |
13,971 |
13,103 |
|
Adjusted gross profit margin2 |
8.1 % |
9.4 % |
|
Income From Operations |
14,691 |
9,625 |
|
Income Before Income Taxes |
8,226 |
4,237 |
|
Net Income |
7,438 |
1,983 |
|
Net Income per share – basic1 |
1.06 |
0.27 |
|
Net Income per share – diluted1 |
0.31 |
0.09 |
|
EBITDA2 |
15,455 |
11,316 |
|
Adjusted EBITDA2 |
8,315 |
8,227 |
|
Adjusted EBITDA Margin2 |
9.0 % |
8.1 % |
|
Return on equity (TTM)2 |
14.6 % |
42.2 % |
|
Adjusted gross profit per metric ton delivered (net of cash settlements) |
77.18 |
107.19 |
|
Free cash flow2 |
1,348 |
3,491 |
|
Refineries Results |
||
|
Refineries Volume (Metric Tons) |
57,093 |
37,074 |
|
Adjusted Gross Profit2 |
$7,917 |
$5,804 |
|
Adjusted Gross Profit per MT2 |
138.68 |
156.54 |
|
1. Per share figures for periods prior to Dec. 31, 2023, are adjusted for the Reorganization. Basic calculation counts each PVS as one share. |
||
|
2. This is not a standardized financial measure under IFRS and may not be comparable to similar financial measures of other |
||
For the three months ended September 30, 2024, customer deliveries increased by 48% compared with the three months ended September 30, 2023, from 122,243 MTs in 2023 to 181,023 MTs in 2024, primarily due to an increase in our wholesale distribution volumes, but also from the 54% volume increase shipped from our Lackawanna and Hamilton refineries.
Adjusted EBITDA was $8.3 million for the three months ended September 30, 2024, which was essentially flat compared with $8.2 million for the corresponding 2023 period, a 1.2% increase. The Adjusted Gross Profit was $14.0 million, a 6.6% increase from the corresponding 2023 period, driven by a combination of significantly higher wholesale distribution volumes, with particular reference to Mexico and world market shipments) and lower adjusted gross profit margins from the refinery volumes. EBITDA was $15.5 million for the three months ended September 30, 2024, compared with $11.3 million for the corresponding 2023 period, a 36.6% increase driven primarily by higher volumes and higher unrealized mark-to-market gains on physical sugar contracts and inventory.
Net income for the three months ended September 30, 2024, amounted to $7.4 million, an increase of $5.4 million compared to net income of $2.0 million for the three months ended September 30, 2024. This increase was driven primarily by higher unrealized mark-to-market gains on physical sugar contracts.
Revenue for the three months ended September 30, 2024, increased by 23.7%, to $171.9 million, from $139.0 million for the three months ended September 30, 2023. This increase was mainly driven by a combination of higher wholesale distribution volumes, particularly from Mexico and world sugar sales, higher average sugar prices during the quarter, and higher refined sugar volumes shipped from our refineries in Hamilton and Lackawanna.
Results from Operations – Nine Months Ended September 30, 2024
|
Q3 2024 Highlights (unaudited) |
Nine Months Ended Sep 30 |
|
|
In 000s of U.S. $ except per share and volume metrics. |
2024 |
2023 |
|
Sugar Deliveries (Metric Tons) |
494,974 |
380,895 |
|
Revenue |
$493,967 |
$382,274 |
|
Gross Profit |
79,355 |
75,135 |
|
Adjusted gross profit2 |
44,166 |
39,651 |
|
Adjusted gross profit margin2 |
8.9 % |
10.4 % |
|
Income From Operations |
55,459 |
54,854 |
|
Income Before Income Taxes |
38,162 |
40,734 |
|
Net Income |
31,136 |
30,355 |
|
Net Income per share – basic1 |
4.49 |
4.17 |
|
Net Income per share – diluted1 |
1.32 |
1.38 |
|
EBITDA2 |
60,155 |
59,583 |
|
Adjusted EBITDA2 |
27,096 |
24,755 |
|
Adjusted EBITDA Margin2 |
5.5 % |
6.5 % |
|
Return on equity (TTM)2 |
14.6 % |
42.2 % |
|
Adjusted gross profit per metric ton delivered (net of cash settlements) |
89.23 |
104.10 |
|
Free cash flow2 |
8,525 |
6,755 |
|
Refineries Results |
||
|
Refineries Volume (Metric Tons) |
162,460 |
126,037 |
|
Adjusted Gross Profit2 |
$23,978 |
$16,760 |
|
Adjusted Gross Profit per MT2 |
147.59 |
132.98 |
|
1. Per share figures for periods prior to Dec. 31, 2023, are adjusted for the Reorganization. Basic calculation counts each PVS as |
||
|
2. This is not a standardized financial measure under IFRS and may not be comparable to similar financial measures of other |
||
For the nine months ended September 30, 2024, customer deliveries increased by 30.0% compared with the nine months ended September 30, 2023, from 380,895 MTs in 2023 to 494,974 MTs in 2024, primarily due to an increase in CIF (cost, insurance, and freight) world market raw sugar volumes sold to Latin American destinations and additional volumes shipped from our Lackawanna and Hamilton refineries.
Adjusted EBITDA was $27.1 million for the nine months ended September 30, 2024, compared with $24.8 million for the corresponding 2023 period, a 9.5% increase, mainly because of higher Adjusted Gross Profit ($44.2 million for the nine months ended September 30, 2024, compared with $39.7 million for the corresponding 2023 period). The increase in Adjusted Gross Profit was in turn driven by higher volumes (30.0% increase). Likewise, EBITDA was $60.2 million for the nine months ended September 30, 2024, compared with $59.6 million for the corresponding 2023 period, a 1.0% increase where higher Adjusted Gross Profit was offset by lower unrealized mark-to-market gains.
Net income for the nine months ended September 30, 2024, amounted to $31.1 million, an increase of $0.8 million when compared to net income of $30.4 million for the nine months ended September 30, 2023. This increase was driven primarily by higher Adjusted Gross Profit, which was offset by higher interest expense relating primarily to increased average usage of our revolving working capital credit facility to support our growing operations.
Revenue for the nine months ended September 30, 2024, increased by 29.22%, to $494.0 million, from $382.3 million for the nine months ended September 30, 2023. This increase was mainly driven by higher sales volume.
Outlook
The Company’s final prospectus dated October 19, 2023, contained a 2024 full-year Adjusted EBITDA estimate of between $49.0 million and $51.0 million. Management is revising its 2024 full-year Adjusted EBITDA estimate to a range of between $38.0 and $40.0 million. This is as a result of lower refining volumes at our facilities and higher selling, general, and administrative expenses relating to payroll expenses related to the increase in our administrative headcount to support our growth in size and operation, as well as professional fees associated with our ongoing public company reporting obligations and in pursuing the strategic transaction with Beta San Miguel, S.A. de C.V. announced on November 5, 2024. The final 2024 full-year EBITDA estimate of between $73.0 million and $81.0 million is not being revised at this time.
Award of Restricted Share Units
The Board of Directors of the Company has awarded 17,835 restricted share units (“RSUs”) to directors as part of their annual retainer under the Company’s Omnibus Equity Incentive Plan. These RSU awards occur semi-annually in April and November of each year. The RSUs awarded will vest no earlier than one year from the date of the award.
Q3 2024 Investor Call
The Company will host a conference call on Friday, November 22, 2024, at 12:00 noon Eastern time during which Jonathan Taylor, Founder and Chief Executive Officer, and Stefano D’Aniello, Chief Financial Officer, will discuss Sucro’s financial performance for the third quarter ended September 30, 2024.
|
Date: |
Friday, November 22, 2024 |
|
Time: |
12:00 noon. ET |
|
Conference Call: |
Toll-Free (800) 836-8184 |
|
Please dial in at least five minutes before the call begins. |
|
Replay: |
Available through December 6, 2024 |
|
Replay Access: |
Toll-Free (888) 660-6345 |
|
Local (GTA) (289) 819-1450 |
|
|
Passcode 85338 # |
About Sucro
Sucro is a growth-oriented sugar company that operates throughout the Americas, with a primary focus on serving the North American sugar market. The Company operates a highly integrated and interconnected sugar supply business, utilizing the entire sugar supply chain to service its customers. Sucro’s integrated supply chain includes sourcing raw and refined sugar from countries throughout Latin America, and refined sugar from its own refineries, and delivering to customers in North America and the Caribbean. Since its inception in 2014, Sucro has achieved growth by creating value for customers through continuous process innovation and supply chain re-engineering. Sucro has established a broad production, sales, and sourcing network throughout North America with two cane sugar refineries and an additional value-added proces sing facility, and two sugar cane refineries under development in Hamilton, Ontario and University Park, Illinois (a suburb of Chicago). The Company has offices in Miami, Mexico City, Cali, Sao Paulo, and Port of Spain. For more information, visit sucro.us and follow us on LinkedIn.
Non-IFRS and Other Financial Measures
In this Press Release, reference is made to the following non-IFRS measures: “EBITDA”, “EBITDA Margin”, “Adjusted EBITDA”, “Adjusted EBITDA Margin”, “Adjusted Gross Profit”, “Adjusted Gross Profit Margin”, “Adjusted Gross Profit Per Metric Ton Delivered”, “Return on Equity’ and “Free Cash Flow”. Such non-IFRS financial measures are not standardized financial measures under International Financial Reporting Standards (“IFRS”) and might not be comparable to similar financial measures disclosed by other issuers. For details on the composition and a reconciliation between such non-IFRS measures and the most directly comparable financial measure in our financial statements, please refer to the “Non-IFRS and Financial Measures (Key Performance Indicators)” section in our MD&A dated November 21, 2024 and filed on SEDAR+ at www.sedarplus.ca, which is specifically incorporated by reference herein.
Forward-Looking Statements
This Press Release contains “forward-looking information” and “forward-looking statements” (collectively, “forward-looking information”) within the meaning of applicable Canadian securities laws. Forward-looking information may relate to our future financial outlook and anticipated events or results and may include information regarding our financial position, business strategy, growth strategies, addressable markets, budgets, operations, financial results, taxes, dividend policy, plans and objectives. Particularly, information regarding our expectations of future results, performance, achievements, prospects or opportunities or the markets in which we operate is forward-looking information. In some cases, forward-looking information can be identified by the use of forward-looking terminology such as “annualized”, “plans”, “targets”, “expects”, “does not expect”, “is expected”, “an opportunity exists”, “budget”, “scheduled”, “estimates”, “outlook”, “forecasts”, “projection”, “pro forma”, “prospects”, “strategy”, “intends”, “anticipates”, “does not anticipate”, “believes”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might”, “will”, “will be taken”, “occur” or “be achieved”, or the negative of these terms, or other similar expressions intended to identify forward-looking statements. In addition, any statements that refer to expectations, intentions, projections or other characterizations of future events or circumstances contain forward-looking information. Statements containing forward-looking information are not historical facts but instead represent management’s expectations, estimates and projections regarding future events or circumstances.
This forward-looking information includes, among other things, statements relating to: our expectations for the commencement of operations at our new Hamilton refinery currently under development and execution of our long-term growth plans.
This forward-looking information and other forward-looking information are based on our opinions, estimates and assumptions in light of our experience and perception of historical trends, current conditions and expected future developments, as well as other factors that we currently believe are appropriate and reasonable in the circumstances. Despite a careful process to prepare and review the forward-looking information, there can be no assurance that the underlying opinions, estimates and assumptions will prove to be correct. Certain assumptions include: revenue; our ability to build our market share; our ability to complete our proposed new refineries on time and on budget and with the anticipated processing capacity; our ability to retain key personnel; our ability to maintain and expand geographic scope; our ability to execute on our expansion plans; our ability to continue investing in infrastructure to support our growth; our ability to obtain and maintain existing financing on acceptable terms; currency exchange and interest rates; the impact of competition; our ability to respond to any changes and trends in our industry or the global economy; and the changes in laws, rules, regulations, and global standards are material factors made in preparing forward-looking information and management’s expectations.
Forward-looking information is necessarily based on a number of opinions, estimates and assumptions that, while considered to be appropriate and reasonable as of the date of this Press Release, are subject to known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information, including, but not limited to, our ability to maintain and renew licenses and permits; fluctuations in the price of sugar that we purchase, process and sell; development of new or expansion of our existing refineries may experience cost-overruns and/or delays and actual costs, operational efficiencies, production volumes or economic returns may differ materially from the Company’s estimates and variances from expectations; disruptions to our supply chains as a result of outbreaks of illness, geopolitical events or other factors; inflation and rising interest rates; the risk of unhedged trading positions and counterparty defaults; a significant portion of our current credit facility is uncommitted and requests for additional advances may be refused; elimination or significantly reduction of protective duties relating to foreign sugar imports; our limited operating history and our recent growth may not be indicative of our future growth; dependence on management’s ability to implement its strategy; risks of early stage companies; competitive risks; our dependence on a small number of key persons; demands of growth on our management and our operational and financial resources; and the other risk factors discussed in greater detail under “Risk Factors” in the Company’s annual information form (“AIF”) dated April 18, 2024 and filed on SEDAR+ at www.sedarplus.ca, which section of the AIF is specifically incorporated by reference herein.
The above-mentioned factors should not be construed as exhaustive. If any of these risks or uncertainties materialize, or if the opinions, estimates or assumptions underlying the forward-looking information prove incorrect, actual results or future events might vary materially from those anticipated in the forward-looking information.
Prospective investors should not place undue reliance on forward-looking information, which speaks only as of the date made. The forward-looking information contained in this Press Release represents our expectations as of the date of this Press Release (or as of the date they are otherwise stated to be made) and is subject to change after such date. However, we disclaim any intention or obligation or undertaking to update or revise any forward-looking information whether as a result of new information, future events or otherwise, except as required under applicable securities laws. For additional information, readers should also refer to our AIF and other information filed on www.sedarplus.ca.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE Sucro Limited
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Biosimulation Market to Hit USD 9.18 Billion by 2029 with 16.7% CAGR | MarketsandMarkets™.
Delray Beach, FL, Nov. 22, 2024 (GLOBE NEWSWIRE) — The global biosimulation market growth forecasted to transform from USD 4.24 billion in 2024 to USD 9.18 billion by 2029, driven by a CAGR of 16.7% from 2024 to 2029. The major factors driving the growth of the biosimulation market include the high rate of clinical trial failures, the growing necessity of being able to predict drug pharmacokinetics and pharmacodynamics, as well as toxicity management. According to a research article published by the National Library of Medicine in February 2022, the drug discovery and development process takes about 10-15 years for a new drug to be approved for clinical use. And 90% of the drug candidates fail during the phases I, II, and III of clinical trials and drug approvals. The possible reasons stated for the failure include lack of clinical efficacy, unmanageable toxicity, poor drug-like properties, lack of commercial needs, and poor strategic planning. The use of biosimulation helps address these challenges to increase the chances of drug approval and facilitate swift trial processes.
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By application, the drug discovery segment is expected to capture the largest share of the biosimulation market. This large share is attributed to the rising burden of chronic and infectious diseases, coupled with technological advancements that enhance understanding of disease mechanisms. Some other drivers for the drug discovery segment include the emphasis on personalized medicine, increased investment in drug discovery, and supportive regulatory frameworks.
Pharmaceutical and biotechnology companies are expected to hold a major share of the biosimulation market by end users. Companies have been putting in much effort in new drug discovery and development, having strong candidate drugs in their pipelines. With stringent regulatory requirements, pharma and biotech companies heavily rely on biosimulation tools to support clinical trial designs and optimize therapeutic dosing. In 2023, the US FDA approved 55 novel drug therapies, while as of 2024, 36 novel drug therapies have been approved so far, reflecting the scope of the segment and its substantial large market share.
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The major players in the biosimulation market with a significant global presence are Certara USA. (US), Simulations Plus. (US), Dassault Systèmes (France), Schrödinger, Inc. (US), Advanced Chemistry Development, Inc. (Canada), Chemical Computing Group ULC. (Canada), Rosa & Co. LLC. (US), Genedata AG (US), Physiomics Plc (United Kingdom), In Silico Biosciences. (US), Allucent. (US), OpenEye, Cadence Molecular Sciences. (US), Cellworks Group, Inc. (US), VeriSIM Life. (US), Netabolics SRL (Italy), Charnwood Discovery (United Kingdom), The MathWorks, Inc. (US), ANSYS, Inc (US), Instem Group of Companies (United Kingdom), Insilico Medicine (US), SCM – Software Chemistry & Materials (Netherlands), BioSymetrics, Inc. (Canada), Atomwise Inc. (US), insitro. US), and Clinithink. (US). The market players have adopted strategies such as acquisitions, collaborations, partnerships, mergers, product/service launches & enhancements, and approvals to strengthen their position in the biosimulation market. The product and technology innovations have helped the market players expand globally by providing biosimulation and modeling solutions.
Certara USA.:
As a global leader in manufacturing software and services for drug discovery and development, Certara provides Model-informed Drug Development (MIDD) software solutions to support all stages of drug development, from preclinical through clinical and commercial. Its proprietary, end-to-end platform integrates generative AI technology with biosimulation, regulatory science, and market access solutions. The company boasts a strong presence in North America, Europe, and Asia Pacific. The customer base includes more than 2,400 biopharmaceutical companies, academic institutes, and regulatory agencies from 66 countries.
Dassault Systèmes:
Dassault Systèmes is a multinational software company that develops and sells 3D design software and intelligence products for modeling and simulation. The company offers a number of products and services – 3DEXCITE, 3DEXPERIENCE, 3DVIA, BIOVIA, DraftSight, CATIA, DELMIA, ENOVIA, EXALEAD, GEOVIA, NETVIBES, SIMULIA, for multiple industries, including aerospace & defence, architecture, engineering & construction, consumer goods & retail, consumer packaged goods & retail, energy, process & utilities, financial and business services, high-tech, industrial equipment, life sciences, marine & offshore, natural resources, and transportation & mobility. Dassault Systèmes operates in 140 countries with more than 194 offices across North America, Europe, Asia-Pacific, Latin America, the Middle East, and Africa, serving more than 270,000 customers.
Schrödinger:
Schrödinger is a scientific leader in developing state-of-the-art chemical simulation software for pharmaceutical and biotechnology research. It operates through two business segments: software and drug discovery. The company provides products ranging from general molecular modeling programs to a full-featured drug design software suite using ligand—and structure-based methods. Schrödinger has a geographical presence in the US, Europe, the Middle East, Africa, and Asia-Pacific.
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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/
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MEDIA ADVISORY – FEDERAL GOVERNMENT TO MAKE HOUSING ANNOUNCEMENT IN WINNIPEG
WINNIPEG, MB, Nov. 21, 2024 /CNW/ – Media are invited to join Terry Duguid, Member of Parliament for Winnipeg South, Janice Lukes, City Councillor of Waverly West Ward, Josephine Hartin, Chairperson of Roseau River Anishinaabe First Nation Trust, Nigel Furgus, President & CEO of Paragon Design Build, and Dan Bockstael, Co-President, Bockstael Construction.
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Date: |
November 22, 2024
|
|
Time: |
10:00 am CT
|
|
Location: |
26 Gaylene Place, Winnipeg, MB |
SOURCE Government of Canada
View original content to download multimedia: http://www.newswire.ca/en/releases/archive/November2024/21/c0306.html
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