Oil Prices Spike By Over 3% As OPEC+ Delays Production Increases Ahead Of US Elections: 5 Energy ETFs To Watch Monday
Oil prices kicked off the week with a notable rally, driven by OPEC+’s decision to postpone an anticipated production increase ahead of the imminent U.S. presidential elections.
The oil cartel and its allies, including Russia, opted to delay plans to ramp up output by another month, citing ongoing market weakness and sluggish demand.
On Monday, West Texas Intermediate (WTI) crude — as closely tracked by the United States Oil Fund USO — surged as much as 3% to hit $71.50 per barrel, its highest since Oct. 25, while Brent crude rose 2.7% to reach $75 per barrel.
These gains effectively erased last week’s losses, which followed Israel’s limited response to Iran — a development that experts said reduced the risk of a broader conflict in the Middle East, providing temporary relief for oil markets.
OPEC+ announced on Sunday that it would maintain its production cut of 2.2 million barrels per day (bpd) through December.
Originally, the group had planned to increase output by 180,000 bpd in December, but it conditioned this hike on favorable price conditions.
The next formal meeting of OPEC+ ministers is scheduled for December 1, although the group has the flexibility to convene extraordinary meetings or alter its policies at any time.
US Sanctions Policy Could Shape Future Of Oil
The outcome of the upcoming U.S. presidential election could be crucial for the oil market, particularly with regard to sanctions policies that affect OPEC+ producers like Russia, Iran, and Venezuela.
“After plummeting during the first Trump administration, production in Iran and Venezuela has recovered under President Joe Biden, with the focus of sanctions moving to Russia,” wrote S&P Global.
Combined, Iran and Venezuela pumped 4.15 million bpd in September, up from 3.2 million bpd in February 2022, according to Platts’ OPEC+ Survey by Commodity Insights, as both countries are exempt from quotas under the OPEC+ agreement, allowing them to pump as much as they can.
Sanctions policy is expected to remain a key factor influencing the global oil supply, particularly amid ongoing geopolitical tensions in Ukraine and the Middle East.
The Biden-Harris administration has imposed extensive sanctions on Russia, aiming to weaken its military capabilities and hinder its economic resources that support the ongoing war in Ukraine. These sanctions, coordinated with allies like the G7 and EU, target key areas, including Russia’s defense sector, critical supply chains, and financial networks.
However, Jim Burkhard, vice president of research at S&P Global Commodity Insights, suggested that a second Donald Trump administration might be more inclined to loosen sanctions on Russia.
Both parties are likely to maintain pressure on Iran given its ongoing conflict with Israel.
US Energy ETFs To Watch Amid Rising Oil Prices
The surge in oil prices could buoy U.S. energy stocks, particularly those tied to exploration, production, and refining. Here are five key U.S. energy ETFs that may see gains as crude prices continue their upward trend:
- Energy Select Sector SPDR Fund XLE, which had already risen by 1% during premarket trading in New York on Monday
- SPDR S&P Oil & Gas Explor. & Product ETF XOP
- Invesco Oil & Gas Services ETF PXJ
- VanEck Oil Refiners ETF CRAK
- EA Series Trust Strive U.S. Energy ETF DRLL
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Movano Health Provides Update on Investigation to Expose Apparent Stock Manipulation Following Reverse Stock Split
Company Continues to Work with Securities Regulators, Legal Advisors and Other Partners to Protect Interests of Shareholders
PLEASANTON, Calif., Nov. 4, 2024 /PRNewswire/ — Movano Health (Nasdaq: MOVE) (the “Company”) provided an update on an investigation to expose apparent manipulation in trading of the Company’s common shares, following the recent announcement of a shareholder approved reverse stock split.
Based on its preliminary investigation, the Company believes that between the announcement of the reverse split on October 25, 2024, and its effective date on October 29, 2024, a large number of single share transactions were executed in an apparent attempt to take advantage of the convention of rounding up reverse split fractional shares at the beneficial owner level. The Company was able to uncover this activity before any round up shares were issued and continues to expect the number of common shares outstanding to be approximately 6.6 million following the reverse split.
“We are committed to transparency and protecting the interests of our Company and shareholders,” said John Mastrototaro, President and CEO of Movano Health. “It has come to our attention that several small cap stocks have suffered similar manipulation in recent weeks following their respective reverse stock splits. We are in direct communication with securities regulators, legal counsel and other interested partners, including affected companies, as we pursue this issue to the fullest extent necessary.”
Additional information regarding the Reverse Stock Split can be found in the Company’s definitive proxy statement for the annual meeting of stockholders of the Company held on July 9, 2024, which was filed with the U.S. Securities and Exchange Commission on May 28, 2024, a copy of which is available at www.sec.gov and on the Company’s website.
About Movano Health
Founded in 2018, Movano Inc. MOVE dba Movano Health, maker of the Evie Ring (www.eviering.com), is developing a suite of purpose-driven healthcare solutions to bring medical-grade data to the forefront of wearables. Featuring modern and flexible form factors, Movano Health’s devices offer an innovative approach to delivering trusted data to both customers and enterprises, capturing a comprehensive picture of an individual’s health data and uniquely translating it into personalized and intelligent insights.
Movano Health is developing its proprietary technologies and wearable medical device solutions to enable the future use of data as a tool to proactively monitor and manage health outcomes across a number of patient populations that exist in healthcare. For more information on Movano Health, visit https://movanohealth.com/.
Forward Looking Statements
This press release contains forward-looking statements concerning our expectations, anticipations, intentions, beliefs, or strategies regarding the future. These forward-looking statements are based on assumptions that we have made as of the date hereof and are subject to known and unknown risks and uncertainties that could cause actual results, conditions, and events to differ materially from those anticipated. Therefore, you should not place undue reliance on forward-looking statements. Examples of forward-looking statements include, among others, statements we make regarding plans with respect to the timing and impact of the Reverse Stock Split, the commercial launches of the Evie Ring and EvieMED Ring; our expectations regarding potential commercial opportunities; planned cost-cutting initiatives; anticipated FDA clearance decisions with respect to our products; expected future operating results; product development and features, product releases, clinical trials and regulatory initiatives; our strategies, positioning and expectations for future events or performance. Important factors that could cause actual results to differ materially from those in the forward-looking statements are set forth in our most recent Annual Report on Form 10-K and any subsequent Quarterly Reports on Form 10-Q, and in our other reports filed with the Securities and Exchange Commission, including under the caption “Risk Factors.” Any forward-looking statement in this release speaks only as of the date of this release. We undertake no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.
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Drug Discovery Informatics Market Size Set to Surpass USD 6.8 Billion by 2031 with 10.9% CAGR as AI Revolutionizes Data Analysis in Drug Development | Transparency Market Research, Inc.
Wilmington, Delaware, United States, Transparency Market Research Inc. – , Nov. 04, 2024 (GLOBE NEWSWIRE) — The global drug discovery informatics market (약물 발견 정보학 시장) is estimated to flourish at a CAGR of 10.9% from 2023 to 2031. Transparency Market Research projects that the overall sales revenue for drug discovery informatics is estimated to reach US$ 6.8 billion by the end of 2031.
Quantum computing, although in its nascent stage, holds immense potential. Its ability to process complex computations exponentially faster than traditional computers could revolutionize molecular simulations and accelerate drug discovery timelines significantly. This technology’s full integration into informatics systems remains a work in progress.
The advent of blockchain technology showcases promise in ensuring data integrity, transparency, and security within drug discovery processes. Implementing blockchain could streamline data sharing among researchers, pharmaceutical companies, and regulatory bodies, enhancing collaboration while safeguarding sensitive information.
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The rise of interdisciplinary approaches, such as the integration of omics data (genomics, proteomics, metabolomics), with informatics tools promises a more holistic understanding of disease mechanisms. This fusion facilitates the identification of novel drug targets and the development of precise therapeutics tailored to individual patient profiles, advancing the era of personalized medicine.
Drug Discovery Informatics Market: Competitive Landscape
The drug discovery informatics market navigates a dynamic landscape shaped by technological advancements, competition, and evolving research needs. Key players like Schrödinger, Genedata, and Certara drive innovation, offering robust informatics platforms.
Emerging contenders such as Collaborative Drug Discovery and OpenEye Scientific contribute disruptive solutions. Cloud-based platforms and AI-driven tools from companies like IBM and Dassault Systèmes further intensify competition, revolutionizing data analysis and accelerating drug discovery.
Consolidation and strategic collaborations, witnessed among major players, emphasize expanding portfolios and global market presence. With increasing demand for efficient solutions, the competitive landscape continually evolves, fostering innovation to expedite drug development and meet healthcare challenges.
Some prominent manufacturers are as follows:
- Charles River Laboratories International Inc.
- Thermo Fisher Scientific
- PerkinElmer Inc.
- Biogen Inc.
- Boehringer Ingelheim GmbH
- Insilico Medicine Inc.
- International Business Machines Corporation
- Schrödinger LLC
- Curia Global, Inc.
- Certara USA
Key Findings of the Market Report
- Discovery informatics spearheads the drug discovery informatics market, driving innovation and efficiency in early-stage drug research and development.
- In-house informatics leads the drug discovery informatics market, empowering companies with tailored solutions and enhanced control over research processes.
- Molecular modeling emerges as the leading function segment in the drug discovery informatics market due to its predictive modeling capabilities.
Drug Discovery Informatics Market Growth Drivers & Trends
- Increasing integration of artificial intelligence and machine learning algorithms accelerates data analysis, enhancing efficiency in drug discovery processes.
- Adoption of cloud-based informatics platforms facilitates collaboration, scalability, and real-time data accessibility, driving operational agility.
- Growing emphasis on personalized medicine fuels demand for informatics tools tailored to individual patient profiles and treatment modalities.
- Leveraging big data analytics transforms data into actionable insights, optimizing decision-making and shortening drug development timelines.
- Collaborations between pharmaceutical companies and technology providers foster innovation, enabling the development of novel informatics solutions to address evolving research needs.
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Global Drug Discovery Informatics Market: Regional Profile
- North America stands as a frontrunner, driven by technological advancements, robust infrastructure, and substantial investments in R&D. The presence of key players like Schrödinger and Certara fuels innovation, fostering a thriving market for informatics solutions.
- In Europe, particularly in countries like Germany and the UK, a strong emphasis on research excellence and collaborations between academia and industry defines the landscape. Companies like Genedata lead with sophisticated informatics platforms, leveraging Europe’s scientific expertise to advance drug discovery.
- The Asia Pacific region emerges as a burgeoning hub, witnessing rapid growth due to increasing investments in healthcare infrastructure and rising demand for novel therapeutics. Countries like China and India foster innovation, propelled by government initiatives and a burgeoning biotech sector. While the market is evolving, companies such as WuXi AppTec and Infosys contribute significantly, amplifying the region’s prominence in the global drug discovery informatics arena.
Product Portfolio
- Biogen Inc. pioneers in neuroscience, offering innovative therapies for neurological and neurodegenerative diseases like multiple sclerosis and Alzheimer’s. With a focus on groundbreaking research, Biogen aims to redefine treatment approaches, improving lives worldwide through advanced biotechnology and pharmaceutical solutions.
- Boehringer Ingelheim GmbH excels in healthcare, dedicated to enhancing patients’ lives. Focused on pharmaceuticals, the company delivers high-quality products in various therapeutic areas like respiratory, cardiovascular, and oncology, emphasizing innovation and patient-centricity in its global reach.
- Insilico Medicine, Inc. specializes in AI-driven drug discovery and development. Combining deep learning algorithms and bioinformatics, Insilico accelerates drug development, striving to address unmet medical needs efficiently. By revolutionizing traditional approaches, it aims to bring novel therapeutics to market faster, transforming healthcare landscapes globally.
Drug Discovery Informatics Market: Key Segments
By Product
- Discovery Informatics
- Development Informatics
By Mode
- In-house Informatics
- Outsourced Informatics
By Function
- Sequencing and Target Data Analysis
- Docking
- Lead Generation Informatics
- Identification and Validation Informatics
- Molecular Modeling
- Others
By End User
- Pharmaceutical and Biotechnology Companies
- Contract Research Organizations
- Others
By Region
- North America
- Latin America
- Asia Pacific
- Europe
- Middle East & Africa
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About Transparency Market Research
Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants use proprietary data sources and various tools & techniques to gather and analyses information.
Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.
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If Trump And Republicans Sweep, Dollar May Climb 7% — But Harris Win Could Bring 5% Drop, Says JPMorgan
JPMorgan Chase & Co. analysts indicate that the fate of the U.S. dollar could swing dramatically depending on the outcome of the upcoming presidential elections.
A Donald Trump’s victory with Republicans gaining full control of Congress could drive the dollar up by as much as 7.3%, while a victory of Kamala Harris with a divided Congress might lead to a drop of over 5% in the dollar’s trade-weighted index (TWI), according to a report released last week.
The impact of a Trump victory on the dollar
If Donald Trump returns to the White House, JPMorgan predicts a series of aggressive trade policies that could propel the dollar.
In particular, Trump has already threatened to hike tariffs on Chinese imports to 60% and suggested the possibility of introducing a 10% tariff on all U.S. imports.
The return of Trump’s protectionist trade policies would likely lead to a tariff-heavy approach that, according to JPMorgan’s estimates, could bolster the dollar significantly.
“There is precedent for what the combination of fiscal stimulus and tariffs can do for FX; it is well known that the dollar benefited from both of these channels throughout 2018- 2019,” JPMorgan wrote.
In a “Republican sweep” scenario, the dollar is expected to rally significantly, with the trade-weighted dollar index—tracked by the Invesco DB USD Index Bullish Fund ETF UUP—projected to gain 7.3%. In this case, the greenback could see its strongest gains against the Swedish krona (SEK), rising by 10.8%, and the euro (EUR), with an anticipated increase of 8.4%.
Conversely, if Harris wins with a split Congress, JPMorgan expects the dollar to experience its steepest decline, with the trade-weighted dollar index potentially dropping by 5.4%. This outcome would likely lead to a weaker dollar as trade tensions ease and economic priorities shift.
The table below highlights JPMorgan’s projected currency movements over the next one to two quarters under various election outcomes, providing forex traders with insights into how the 2024 U.S. election could shape the dollar’s trajectory.
| Election Scenario | USD TWI Change | USD vs. CNY | USD vs. EUR | USD vs. CAD | USD vs. CAD | USD vs. AUD | USD vs. SEK |
|---|---|---|---|---|---|---|---|
| Republican Sweep | +7.3% | +4.4% | +8.4% | +4.7% | +6.1% | +7.9% | +10.8% |
| Trump w/ Split Congress | +3.3% | +3.0% | +4.3% | +3.3% | -5.4% | +4.6% | +5.0% |
| Harris w/ Split Congress | -5.4% | -2.7% | -3.9% | -4.0% | -4.0% | -2.9% | -5.6% |
| Democratic Sweep | -3.9% | -2.0% | -3.1% | -2.5% | -0.7% | -1.4% | -4.6% |
Why could Trump’s tariffs trigger a dollar rally?
Economists at JPMorgan, the world’s largest investment bank, estimate that the tariffs imposed during Trump’s first term raised inflation by about 0.3% and shaved 0.4% off GDP growth.
However, analysts at JPMorgan warn that a second Trump administration could cause even greater economic disruptions if tariffs are ramped up further.
“In the event of a Trump 2.0 administration, the impact from a tariff war 2.0 could be much higher,” the JPMorgan team stated.
They project that a 60% tariff on all Chinese imports would raise U.S. consumer prices by 1.1%, while a universal 10% tariff on all imports could push inflation up by as much as 1.5%.
In a worst-case scenario—where both a 60% tariff on Chinese goods and a 10% universal tariff are imposed—inflation could spike by 2.4%, putting significant pressure on American consumers and businesses.
This inflationary surge would likely force the Federal Reserve to shift back to a more hawkish stance, reversing any plans to ease monetary policy.
Higher interest rates would be necessary to counteract the inflationary impact of tariffs, which could create a stronger monetary policy divergence between the U.S. and other economies.
For the dollar, this scenario would represent a tailwind. Rising interest rates make U.S. assets, like Treasuries, more attractive to foreign investors due to their higher yields. This increased demand for U.S. assets, driven by yield differentials, would boost demand for dollars, strengthening the greenback further in the face of escalating trade tensions.
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Dollar falters, stocks tick up as markets gird for US election showdown
By Koh Gui Qing and Tom Wilson
NEW YORK/LONDON (Reuters) -The dollar fell while stocks eked out slim gains on Monday as investors treaded carefully before the U.S. presidential election that will impact the world economy, with a U.S. Federal Reserve interest rate cut also expected later in the week.
In the U.S. presidential race, Democratic candidate Kamala Harris and Republican candidate Donald Trump remain virtually tied in opinion polls ahead of Tuesday’s vote. It might not be clear who has won for days after voting ends.
Trump’s policies on immigration, tax cuts and tariffs may put upward pressure on inflation, bond yields and the dollar, analysts believe, while Harris is seen as the continuity candidate.
“We are too evenly divided and polarized to suggest a red sweep,” Frank Luntz, Republican consultant and pollster, told the Reuters Global Markets Forum. “The Senate looks like it will swing Republican, but the presidency and the house are simply too close to call,” Luntz said.
MSCI’s gauge of stocks across the globe added 0.3%, while the dollar index, which measures the greenback against a basket of currencies, eased 0.29% to 103.63.
The dollar slid against a host of European and Asian currencies, losing 0.76% against the euro to $1.090, and falling 0.7% against the Japanese yen to 151.90. [USD/]
The U.S. Treasury market, which has priced for a Trump victory in the past month that sent yields shooting higher, saw traders square positions on Monday after a poll showed Harris with a surprise lead in Iowa. [US/]
U.S. Treasury yields fell across the board. The yield on the benchmark U.S. 10-year note fell 9 basis points (bps) to 4.28%, on track for its largest daily fall since late August.
The U.S. two-year Treasury yield fell for the first time in six days, down 6.8bps at 4.135% and on pace for its biggest one-day decline in two months.
European stocks were flat, with energy stocks among top gainers as a decision by OPEC+ to delay plans to increase output pushed up oil prices.
British stocks outperformed continental indexes to add 0.4%, helped by the energy sector.
“Tomorrow will shape the direction of the world economy and geopolitics for the next four years,” Deutsche Bank analysts wrote.
They cautioned that “there remains a large degree of uncertainty around both the result, including the very tight House (of Representatives) race, and when we will know it.”
RATES FOCUS
The week will also provide investors with global monetary policy catalysts. The most closely watched of a slew of rate decisions is the Fed, while decisions are also due from the Bank of England (BoE), the Reserve Bank of Australia (RBA), Sweden’s Riksbank and Norway’s Norges Bank.
Financial Growth Executive Peter J. Gondek Joins Fuse Integration as CFO
SAN DIEGO, Nov. 04, 2024 (GLOBE NEWSWIRE) — Fuse Integration, a warfighter-focused engineering and design firm, today announced that financial growth executive Peter J. Gondek has joined the company as CFO. A results-oriented financial leader, Gondek brings to the role nearly 30 years of success, guiding defense contractors and technology-focused commercial companies to achieve their growth and profitability milestones. As CFO, he will develop and guide strategies for Fuse’s economic success.
“Fuse is on a steep growth trajectory, as more of our tactical edge networking solutions move into production and support defense programs of record,” said Sumner Lee, CEO of Fuse. “Peter is an astute leader with a wealth of financial acumen and his expertise will be crucial as we move through this significant period of expansion.”
Gondek joins Fuse from Systems Technology, Inc., where he served as head of finance and treasurer. While there, the company achieved record growth and profitability. Previously, he served as director of finance and controller at Referentia Systems in Honolulu.
“Fuse has a strong foundation and a clear growth path,” said Gondek. “I’m looking forward to helping the company achieve its long-term goals while continuing to deliver exceptional value to its defense customers.”
He holds an MBA from the University of Arizona and a BBA from San Diego State University. Gondek is an active member of Financial Executives International and the CFO Leadership Council. He is also a certified International Mergers and Acquisitions Expert through the Institute for Mergers, Acquisitions and Alliances (IMAA).
Fuse was recently awarded a $16 million production contract from NAVAIR for its CORE® 4.0 virtualized network systems on the E-2D Advanced Hawkeye program and earned a place on the 2024 Inc. 5000 list of the fastest-growing private companies in the U.S.
About Fuse Integration
Fuse is a warfighter-focused engineering and design firm providing innovative communications, networking and computing solutions for defense customers. The company’s virtualized network systems, tactical edge network and airborne networking gateway products improve the sharing of information, video, text and voice among warfighters throughout airborne, maritime and ground environments. Founded in 2010, Fuse is a service-disabled veteran-owned small business with headquarters in San Diego and a corporate office in Washington, D.C. www.fuseintegration.com
Media Contact
Joyce Bosc
On behalf of Fuse Integration
301-717-9529
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Stock market today: Asian shares are mostly higher as China begins major economic meeting
NEW YORK (AP) — U.S. stocks are drifting Monday ahead of a momentous week full of potential flashpoints, but other markets are already moving more sharply, including a jump for oil prices and drops for Treasury yields.
The S&P 500 was flat in early trading, though it’s still near its record set last month. The Dow Jones Industrial Average was down 135 points, or 0.3%, as of 9:50 a.m. Eastern time, and the Nasdaq composite was 0.1% lower.
Marriott International fell 3.1% after reporting weaker profit for the latest quarter than analysts expected. But Fox climbed 3.9% after the media giant reported stronger profit for the latest quarter than expected. That was despite increases in some costs, including for newsgathering at Fox News for this election cycle.
Election Day will arrive Tuesday, though its result may not be known for some time as officials count all the votes. That’s raised fears about the possibility of sharp swings around the world because markets infamously hate uncertainty.
That’s even though the broad U.S. stock market has historically gone on to rise regardless of which party wins the White House. And in 2020, U.S. stocks rose immediately after Election Day and kept going even after former President Donald Trump refused to concede and challenged the results, creating lots of uncertainty. A large part of that rally was also due to excitement in the market around the potential for a vaccine for COVID-19, which had just shut down the global economy.
“Bottom line – the US election is incredibly important, but the process is likely to be incredibly noisy,” according to Michael Zezas, a strategist at Morgan Stanley.
For markets, Zezas also points to how prices may have already moved ahead of expected outcomes from the election. A win for Trump this election could mean U.S. tariffs on Mexican imports, for example, but the value of the Mexican peso has already fallen against the U.S. dollar in recent months. That could limit further moves if a Trump win were to actually happen.
A Trump victory would also be less of a surprise to markets this time around than in 2016, when Treasury yields soared amid expectations for tax cuts that could fuel a stronger U.S economy, further inflate its debt or both. Treasury yields have already climbed in recent weeks, in part due to rising expectations in some market corners for a Trump win, along with a spate of reports showing the U.S. economy remains more resilient than feared.
On Monday, Treasury yields gave back a chunk of those gains. The yield on the 10-year Treasury fell to 4.27% from 4.38% late Friday.
OnStation Welcomes Former Infotech VP Ward Zerbe to Accelerate Public Sector Adoption
CLEVELAND, Nov. 04, 2024 (GLOBE NEWSWIRE) — OnStation, the leading provider of digital stationing solutions for the heavy highway industry, today announced the appointment of Ward Zerbe as its new Director of Public Sector Programs.
With more than 40 years of experience of successfully driving innovation and delivering information technology solutions, Ward’s experience covers federal, state, local, and international government. Prior to OnStation, Ward spent over 20 years with Infotech, Inc in several roles driving business growth in the transportation infrastructure sector working with state and local governments and contractors. Most recently Ward was Infotech’s Executive Relationships Officer engaging senior customer and industry executives to develop long term relationships that span the transportation infrastructure industry. Previously, Ward served as the Vice President for the AASHTOWare Products Division overseeing the software development and maintenance, implementation services, and support for the AASHTOWare Project suite of applications for construction contract management. As an Account Manager at Infotech, he was instrumental in creating the account management structure that resulted in unprecedented growth.
As the transportation construction industry continues to evolve, the necessity of accurate stationing data is critical to any construction project. It is central to construction administration, digital project delivery, eTicketing, and asset management. OnStation’s digital stationing tool has been embraced in the industry to provide a common, accurate reference from bidding through closeout. Now is the time to accelerate the presence of OnStation’s solutions wherever transportation infrastructure projects are executed.
Ward brings a wealth of industry knowledge and experience as a trusted advisor to customers throughout the US. “After hearing about OnStation several times from various colleagues, my research led me to determine their solution was going to be a game changer. I see a lot of possibilities for the product even beyond its current use today. Also, OnStation has the right approach to working with public sector customers. I had to be a part of this important venture.”
The opportunity to add Ward to the OnStation Team was an easy decision, said CEO Patrick Russo. “Ward originally connected with Dave Thomas, our Director of Business Development, and expressed interest in joining OnStation. After a couple of direct conversations, I could tell Ward fit into the OnStation culture of operating with high integrity and shared the same goals of continuing to transform our industry with innovative, worker first tools that easily tie stationing, documentation and inspection together. Full gas ahead!”
For more information about OnStation and its solutions, please visit www.onstationapp.com.
About Ward Zerbe
Ward graduated from The George Washington University with a bachelor’s degree in business administration and information systems and he holds the PMP certification from the Project Management Institute. Ward’s career highlights include implementing the first nationwide network infrastructure for the Federal Highway Administration, delivering intelligent transportations systems for the Maryland Department of Transportation, and delivering a SaaS data analytics module as the capstone for AASHTOWare Project. Ward also spent a year overseas as an adviser to the Royal Thai Government implementing a project management system. For Ward, it’s the relationships that are key to making technology successful.
Ward and his wife Kim have been married over 41 years and have 4 grown married children and 2 granddaughters. They enjoy traveling, making new friends, and working on their farm in Virginia.
About OnStation
OnStation is a collaborative digital stationing platform that offers location-based project records from bid to close. Specifically designed for the heavy highway industry, OnStation’s mobile app centralizes communication, boosts productivity, enhances worker safety, and improves project quality. Users benefit from live jobsite stationing, milepost, and LRS capabilities. They can overlay design layers on the project map and communicate via a custom chat platform that organizes and records project events at their locations. OnStation is available on both the Apple App Store and Google Play Store and is supported on all desktop systems.
Contact
Jessica Kodrich
jkodrich@onstationapp.com
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/6ecb230e-7164-403e-acbb-14bf56514960
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