Analyst Report: Zions Bancorporation N.A
Summary
Based in Salt Lake City, Zions provides a range of retail and commercial banking, residential mortgage lending, and asset management services. The company has more than 10,000 employees in Utah, Texas, New Mexico, Arizona,
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EXCLUSIVE: Why 'Good Weed And Good Friends' Won't Cut It Any More—Cannabis Industry Embraces AI, Automation, Data To Survive
Growing, bagging and selling cannabis alone won’t sustain growth in today’s market. High-quality products and loyal customers are no longer enough; the industry needs smarter, leaner supply chains to stay competitive. At the latest Benzinga Cannabis Capital Conference, industry leaders delivered a clear message: emerging tech like AI, automation and blockchain is transforming cannabis operations.
Moderated by Cannabiz Supply’s Barbara Fox, the panel emphasized how these tools are redefining efficiency, data collection and automation to scale profitability.
- Get Benzinga’s exclusive analysis and the top news about the cannabis industry and markets daily in your inbox for free. Subscribe to our newsletter here. You can’t afford to miss out if you’re serious about the business.
Radio Zaza
Graham Farrar, co-founder and president of Glass House Brands GLASF explained how AI and RFID tracking have revolutionized Glass House’s operational flow. RFID, or Radio Frequency Identification, uses small tags with embedded chips to track objects in real time. “For us, it’s all about saving seconds without sacrificing quality,” he said, emphasizing the importance of precise time tracking for tasks like hand-trimming.
By implementing RFID tags, Farrar noted, “we can tell how much each employee is trimming per hour, which helps us reward high performers and spot inefficiencies.” Farrar highlighted a $250,000 photo-optical sorting machine powered by AI that reduced labor costs by eliminating six full-time positions.
RFID And NFC Use in Consumer Tracking
The panelist also discussed the potential of RFID and NFC labels to track consumer movement from one location to another, offering brands insights into consumer behavior. As Farrar explained, implementing RFID in retail products enables companies to see where products go after they’re purchased, such as if cannabis bought in Chicago is often found later in Wisconsin. These insights could guide distribution strategies, allowing brands to place inventory closer to consumer hotspots and thus enhance their market reach efficiently.
Read Also: Think You Can Do It All? 20,000 Reasons Why Automation Outperforms A Broad Approach In Cannabis
Leveraging Data For Smarter Decisions
Data analysis has become the essential compass in navigating the complex landscape of cannabis sales. Pete Sahani of The Blinc Group emphasized that while his company is beginning to automate data analysis, understanding the manual process remains essential. “We’re trying to figure it out before just throwing technology at it,” he shared. With tools like “Blinc on demand,” Sahani explained, Blinc Group is beginning to automate inventory insights, helping clients make informed purchasing decisions based on real-time sales trends.
Bypassing Supply Chain Bottlenecks With Technology
Michael Piermont, CCO at Sweed and Leaf Trade, shared how his team is using AI to tackle supply chain bottlenecks, especially in bulk purchasing.
“We’re all buying and selling from each other in a fairly closed-loop system,” Piermont said, adding that AI-driven insights could help predict product demand and optimize inventory. “If you knew 50% of your product was already sold before it was even grown, you could be more selective about what to produce.”
Piermont also discussed how integrating AI across supply chain platforms could eliminate human bias in purchasing decisions, allowing businesses to base decisions on real-time consumer data. “It’s about making the decision easier,” he emphasized, a sentiment echoed by other panelists who agreed that technology could drive objectivity in decision-making.
Cannabis Retail: More Than Selling Bud
By integrating demographic data, retailers can tailor inventory selections to meet specific consumer needs, a shift that could help cannabis companies overcome some of the industry’s unique challenges, such as high tax rates and strict regulations.
Vibhav Gupta, CEO of CannMenus, highlighted how AI had enabled cannabis companies to analyze vast amounts of retail data, yielding consumer behavior insights previously unheard of. Gupta explained, “It’s never been a better time to be in the data space.”
Meanwhile, Farrar expressed optimism about cannabis becoming a model for other industries regarding data-driven strategy. “Cannabis could become a beacon that others start to follow,” he noted. He added that the industry’s challenges—ranging from regulatory barriers to market instability—push it to adopt innovative solutions faster than most.
Piermont agreed, adding that while some sectors have had the luxury of time to adapt, “in cannabis, technology adoption is critical for survival.”
Read Next: EXCLUSIVE: 80% Growth Despite The Chaos: How Dutchie, C3 Defy 2024’s Cannabis Slump
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
US Stocks Set To Rise As Treasury Yields Ease, Tesla, Spirit Airlines Among Stocks In Focus: Fund Manager Says Despite Elon Musk's Company 'Firing On All Cylinders,' It's Still Not A 'Good Time To Buy'
Investors could see a second straight day of an opening in the green on Wall Street as the index futures point to a positive start on Friday. Treasury yields started cooling again after scaling three-month highs.
While Friday is a little light on the earnings side, consumer sentiment data and a speech by Boston Fed President Susan Collins could set the tone for the markets for the last day of the week.
All three major indices could close in the red for this week after surging for six consecutive weeks.
| Futures | Performance (+/-) |
| Nasdaq 100 | 0.27% |
| S&P 500 | 0.26% |
| Dow Jones | 0.23% |
| R2K | 0.56% |
In premarket trading on Thursday, the SPDR S&P 500 ETF Trust SPY rose 0.30% to $580.95 and the Invesco QQQ ETF QQQ surged 0.32% to $493.91, according to Benzinga Pro data.
Cues From Last Session:
EV giant Tesla Inc.’s TSLA shares witnessed their best single-day gain in over a decade after the Elon Musk-led EV giant blew past expectations.
A tightly packed week of earnings is now drawing to a close, with nearly a third of S&P 500 companies having reported their results. According to FactSet data, more than 70% of these companies have managed to beat expectations in terms of profits.
The S&P 500 ended its 3-day losing streak while the Nasdaq Composite maintained its momentum on the back of Tesla and other tech stocks.
On the economic data front, U.S. initial jobless claims declined by 15,000 from the prior week to 227,000 during the period ending Oct. 19, compared to market estimates of 242,000.
Most sectors on the S&P 500 closed on a negative note, with materials, industrials, and utilities stocks recording the biggest losses on Thursday. However, consumer discretionary and communication services stocks bucked the overall market trend, closing the session higher.
| Index | Performance (+/-) | Value |
| Nasdaq Composite | 0.76% | 18,415.49 |
| S&P 500 | 0.21% | 5,809.86 |
| Dow Jones | -0.33% | 42,374.36 |
| Russell 2000 | 0.23% | 2,218.92 |
Insights From Analysts:
Following six consecutive weeks of gains, the markets have remained gloomy this week, with tech stocks offering some respite amid sideways movements in most other sectors.
Benchmark US 10-year treasury yields continued to cool down after scaling three-month highs.
On the economic data front, the S&P Global flash manufacturing PMI rose to 47.8 in October versus a 15-month low level of 47.3 in September, while services PMI increased to 55.3 in October from 55.2 in the prior month.
“The election itself can be a bit of a hairy situation. I think right now, although the market sort of has been pricing in some Trump trades, I think the polls are still telling you that it’s a coin toss,” Interactive Brokers chief strategist Steve Sosnick said in an interview with Market Domination.
On the other hand, despite the Tesla stock “firing on all cylinders” and turning positive year-to-date after Thursday’s rally, fund manager Louis Navellier thinks the EV giant still has to improve its fundamentals before going long on the stock.
“Now is not a good time to buy Tesla. I would wait for its fundamentals to improve further before investing in the company.”
See Also: Best Futures Trading Software
Upcoming Economic Data:
- Data on durable goods orders is scheduled to be released at 8:30 a.m. ET.
- Data on consumer sentiment is scheduled to be released at 10 a.m. ET.
- University of Michigan (UoM) is scheduled to release one and five-year inflation expectations at 10 a.m. ET.
- Boston Fed President Susan Collins is scheduled to speak at 11 a.m. ET.
Stocks In Focus:
- Tesla will stay in focus after the stock registered its best single-day gains in over a decade, a day after beating margin and EPS estimates in its third-quarter earnings.
- Capri Holdings Ltd. CPRI tumbled over 46% in premarket trading after a judge blocked its acquisition by fashion group Tapestry Inc. TPR.
- Spirit Airlines Inc. SAVE stock surged over 11% in premarket trading after the carrier announced the sale of 23 Airbus A320 aircraft worth $519 million. It also announced job cuts.
Investors are awaiting earnings results from AutoNation, Inc. AN, Colgate-Palmolive Company CL, and HCA Healthcare Inc. HCA today.
Commodities, Bonds And Global Equity Markets:
Crude oil futures rose in the early New York session, surging nearly 0.7% as data showed a rise in spot demand.
The 10-year Treasury note yield eased marginally to 4.198%.
Asian markets were mixed on Thursday, with Chinese markets rising marginally while Japan’s Nikkei 225 registering a decline.
European stocks remained tentative in early trading, concluding what has been a gloomy week so far.
Read Next:
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© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
A Peek at Ultra Clean Hldgs's Future Earnings
Ultra Clean Hldgs UCTT is set to give its latest quarterly earnings report on Monday, 2024-10-28. Here’s what investors need to know before the announcement.
Analysts estimate that Ultra Clean Hldgs will report an earnings per share (EPS) of $0.32.
The market awaits Ultra Clean Hldgs’s announcement, with hopes high for news of surpassing estimates and providing upbeat guidance for the next quarter.
It’s important for new investors to understand that guidance can be a significant driver of stock prices.
Earnings Track Record
Last quarter the company beat EPS by $0.06, which was followed by a 1.51% increase in the share price the next day.
Here’s a look at Ultra Clean Hldgs’s past performance and the resulting price change:
| Quarter | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 |
|---|---|---|---|---|
| EPS Estimate | 0.26 | 0.13 | 0.12 | 0.10 |
| EPS Actual | 0.32 | 0.27 | 0.19 | 0.04 |
| Price Change % | 2.0% | 3.0% | 5.0% | 2.0% |
Market Performance of Ultra Clean Hldgs’s Stock
Shares of Ultra Clean Hldgs were trading at $35.07 as of October 24. Over the last 52-week period, shares are up 49.37%. Given that these returns are generally positive, long-term shareholders are likely bullish going into this earnings release.
Analyst Opinions on Ultra Clean Hldgs
Understanding market sentiments and expectations within the industry is crucial for investors. This analysis delves into the latest insights on Ultra Clean Hldgs.
With 1 analyst ratings, Ultra Clean Hldgs has a consensus rating of Outperform. The average one-year price target is $70.0, indicating a potential 99.6% upside.
Peer Ratings Overview
The analysis below examines the analyst ratings and average 1-year price targets of and Veeco Instruments, three significant industry players, providing valuable insights into their relative performance expectations and market positioning.
- The consensus outlook from analysts is an Buy trajectory for Veeco Instruments, with an average 1-year price target of $44.75, indicating a potential 27.6% upside.
Insights: Peer Analysis
The peer analysis summary offers a detailed examination of key metrics for and Veeco Instruments, providing valuable insights into their respective standings within the industry and their market positions and comparative performance.
| Company | Consensus | Revenue Growth | Gross Profit | Return on Equity |
|---|---|---|---|---|
| Ultra Clean Hldgs | Outperform | 22.44% | $88.50M | 2.27% |
| Veeco Instruments | Buy | 8.81% | $75.39M | 2.20% |
Key Takeaway:
Ultra Clean Hldgs ranks higher in Revenue Growth compared to its peers. It also outperforms in Gross Profit margin. However, it lags behind in Return on Equity. Overall, Ultra Clean Hldgs is positioned favorably among its peers based on the provided metrics.
All You Need to Know About Ultra Clean Hldgs
Ultra Clean Holdings Inc, through its subsidiaries, manufactures and supplies production tools, modules, and subsystems for the semiconductor capital equipment industry. The product includes precision robotic solutions, gas delivery systems, and a variety of industrial and automation production equipment products; subsystems include wafer cleaning subsystems, chemical delivery modules, top-plate assemblies, frame assemblies, and process modules. Its customer base includes firms in the semiconductor capital equipment industry, medical, energy, industrial, flat panel, and research equipment industries. It has two segments Products and Services. Its principal markets are North America, Asia, and Europe.
Unraveling the Financial Story of Ultra Clean Hldgs
Market Capitalization Analysis: The company exhibits a lower market capitalization profile, positioning itself below industry averages. This suggests a smaller scale relative to peers.
Positive Revenue Trend: Examining Ultra Clean Hldgs’s financials over 3 months reveals a positive narrative. The company achieved a noteworthy revenue growth rate of 22.44% as of 30 June, 2024, showcasing a substantial increase in top-line earnings. In comparison to its industry peers, the company stands out with a growth rate higher than the average among peers in the Information Technology sector.
Net Margin: Ultra Clean Hldgs’s net margin falls below industry averages, indicating challenges in achieving strong profitability. With a net margin of 3.7%, the company may face hurdles in effective cost management.
Return on Equity (ROE): The company’s ROE is below industry benchmarks, signaling potential difficulties in efficiently using equity capital. With an ROE of 2.27%, the company may need to address challenges in generating satisfactory returns for shareholders.
Return on Assets (ROA): Ultra Clean Hldgs’s ROA lags behind industry averages, suggesting challenges in maximizing returns from its assets. With an ROA of 1.0%, the company may face hurdles in achieving optimal financial performance.
Debt Management: The company faces challenges in debt management with a debt-to-equity ratio higher than the industry average. With a ratio of 0.78, caution is advised due to increased financial risk.
To track all earnings releases for Ultra Clean Hldgs visit their earnings calendar on our site.
This article was generated by Benzinga’s automated content engine and reviewed by an editor.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
XRP Falls More Than 3% In 24 hours
Over the past 24 hours, XRP’s XRP/USD price has fallen 3.03% to $0.51. This continues its negative trend over the past week where it has experienced a 6.0% loss, moving from $0.55 to its current price.
The chart below compares the price movement and volatility for XRP over the past 24 hours (left) to its price movement over the past week (right). The gray bands are Bollinger Bands, measuring the volatility for both the daily and weekly price movements. The wider the bands are, or the larger the gray area is at any given moment, the larger the volatility.
The trading volume for the coin has fallen 6.0% over the past week which is opposite, directionally, with the overall circulating supply of the coin, which has increased 1.01%. This brings the circulating supply to 56.76 billion, which makes up an estimated 56.76% of its max supply of 100.00 billion. According to our data, the current market cap ranking for XRP is #7 at $29.28 billion.
This article was generated by Benzinga’s automated content engine and reviewed by an editor.
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© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
OpenAI Set To Launch 100X More Powerful AI Model In December? Sam Altman Calls Report 'Fake News'
OpenAI is gearing up to launch its latest artificial intelligence model, Orion, in December. The model, which is expected to be significantly more powerful than its predecessor, will initially be available to select partners.
What Happened: OpenAI is set to release the Orion AI model in December. Unlike its previous models, GPT-4o and o1, Orion will not be widely available through ChatGPT at first, according to a report by The Verge on Wednesday, which cited a source familiar with the plan. Instead, OpenAI will grant select partners access to develop their own products and features.
Microsoft Corp., OpenAI’s primary partner for deploying AI models, is reportedly preparing to host Orion on Azure as early as November. Although Orion is seen as the successor to GPT-4 within OpenAI, it is uncertain whether the company will publicly refer to it as GPT-5. The release plan is subject to change, and both OpenAI and Microsoft have declined to comment.
The Orion model is expected to be up to 100 times more powerful than GPT-4, according to an OpenAI executive. This model is separate from the o1 reasoning model released in September. OpenAI’s long-term goal is to merge its LLMs to create an even more capable model, potentially leading to the development of artificial general intelligence, according to the report.
OpenAI’s CEO Sam Altman, wrote, “fake news out of control,” responding to The Verge report.
OpenAI did not immediately respond to Benzinga‘s request for comment.
OpenAI’s announcement comes at a crucial time for the company, as it recently closed a record $6.6 billion funding round and is undergoing significant staff turnover.
Why It Matters: The AI industry is witnessing a flurry of activity, with companies like OpenAI and its rivals making significant strides. Just days before this announcement, Jack Altman, the brother of OpenAI CEO, predicted that AI voice technology could be as big or even bigger than AI text.
Meanwhile, OpenAI’s rival, Anthropic, has unveiled an upgrade to its AI model Claude 3.5 Sonnet, allowing it to interact with computers in a human-like manner.
Furthermore, OpenAI’s recent transition from a non-profit to a for-profit entity has added complexity to its discussions with equity investors, including Microsoft. This transition, along with the company’s recent funding round, underscores the high stakes involved in the AI industry.
Amid these developments, Nvidia Corp has introduced a new AI model that reportedly outperforms OpenAI’s GPT-4o and Anthropic’s Claude 3.5 Sonnet.
Read Next:
Image Via Shutterstock
This story was generated using Benzinga Neuro and edited by Kaustubh Bagalkote
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© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
/R E P E A T — MEDIA ADVISORY – GOVERNMENT OF CANADA AND CITY OF MONTRÉAL TO MAKE HOUSING-RELATED ANNOUNCEMENT IN MONTRÉAL/
MONTRÉAL, Oct. 24, 2024 /CNW/ – Media are invited to join the Honourable Steven Guilbeault, Minister of Environment and Climate Change and Member of Parliament for Laurier—Sainte-Marie, on behalf of the Honourable Sean Fraser, Minister of Housing, Infrastructure and Communities, Benoit Dorais, borough mayor for Le Sud-Ouest, and Valérie Plante, mayor of Montréal for the announcement.
Journalists, photographers and cameramen are required to register at relationsmedias@montreal.ca before October 25, at 9:30 am (ET).
|
Date: |
October 25, 2024 |
|
Time: |
10:30 am ET |
|
Location: |
The address will be confirmed upon registration. |
SOURCE Canada Mortgage and Housing Corporation (CMHC)
View original content to download multimedia: http://www.newswire.ca/en/releases/archive/October2024/25/c6992.html
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© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Regency Centers's Earnings Outlook
Regency Centers REG is set to give its latest quarterly earnings report on Monday, 2024-10-28. Here’s what investors need to know before the announcement.
Analysts estimate that Regency Centers will report an earnings per share (EPS) of $1.04.
The announcement from Regency Centers is eagerly anticipated, with investors seeking news of surpassing estimates and favorable guidance for the next quarter.
It’s worth noting for new investors that guidance can be a key determinant of stock price movements.
Earnings History Snapshot
In the previous earnings release, the company beat EPS by $0.04, leading to a 2.52% increase in the share price the following trading session.
Here’s a look at Regency Centers’s past performance and the resulting price change:
| Quarter | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 |
|---|---|---|---|---|
| EPS Estimate | 1.02 | 1.03 | ||
| EPS Actual | 1.06 | 1.08 | 1.02 | 1.02 |
| Price Change % | 3.0% | -2.0% | -1.0% | 1.0% |
Regency Centers Share Price Analysis
Shares of Regency Centers were trading at $72.0 as of October 24. Over the last 52-week period, shares are up 22.73%. Given that these returns are generally positive, long-term shareholders are likely bullish going into this earnings release.
Analyst Opinions on Regency Centers
Understanding market sentiments and expectations within the industry is crucial for investors. This analysis delves into the latest insights on Regency Centers.
With 10 analyst ratings, Regency Centers has a consensus rating of Outperform. The average one-year price target is $76.4, indicating a potential 6.11% upside.
Peer Ratings Comparison
The analysis below examines the analyst ratings and average 1-year price targets of Kimco Realty, Federal Realty Investment and NNN REIT, three significant industry players, providing valuable insights into their relative performance expectations and market positioning.
- Analysts currently favor an Neutral trajectory for Kimco Realty, with an average 1-year price target of $24.21, suggesting a potential 66.38% downside.
- For Federal Realty Investment, analysts project an Outperform trajectory, with an average 1-year price target of $123.5, indicating a potential 71.53% upside.
- For NNN REIT, analysts project an Neutral trajectory, with an average 1-year price target of $48.4, indicating a potential 32.78% downside.
Insights: Peer Analysis
The peer analysis summary presents essential metrics for Kimco Realty, Federal Realty Investment and NNN REIT, unveiling their respective standings within the industry and providing valuable insights into their market positions and comparative performance.
| Company | Consensus | Revenue Growth | Gross Profit | Return on Equity |
|---|---|---|---|---|
| Regency Centers | Outperform | 13.68% | $252.28M | 1.49% |
| Kimco Realty | Neutral | 12.96% | $342.07M | 1.05% |
| Federal Realty Investment | Outperform | 5.48% | $201.87M | 3.93% |
| NNN REIT | Neutral | 6.99% | $210.06M | 2.54% |
Key Takeaway:
Regency Centers ranks highest in Revenue Growth among its peers. It also leads in Gross Profit. However, it has the lowest Return on Equity.
Unveiling the Story Behind Regency Centers
Regency Centers is one of the largest shopping center-focused retail REITs. The company’s portfolio includes an interest in 482 properties, which includes nearly 57 million square feet of retail space following the completion of the Urstadt Biddle acquisition in August 2023. The portfolio is geographically diversified with 22 regional offices and no single market representing more than 12% of total company net operating income. Regency’s retail portfolio is primarily composed of grocery-anchored centers, with 80% of properties featuring a grocery anchor and grocery stores representing 20% of annual base rent.
Financial Insights: Regency Centers
Market Capitalization Highlights: Above the industry average, the company’s market capitalization signifies a significant scale, indicating strong confidence and market prominence.
Revenue Growth: Over the 3 months period, Regency Centers showcased positive performance, achieving a revenue growth rate of 13.68% as of 30 June, 2024. This reflects a substantial increase in the company’s top-line earnings. As compared to its peers, the company achieved a growth rate higher than the average among peers in Real Estate sector.
Net Margin: Regency Centers’s net margin lags behind industry averages, suggesting challenges in maintaining strong profitability. With a net margin of 27.78%, the company may face hurdles in effective cost management.
Return on Equity (ROE): Regency Centers’s ROE is below industry standards, pointing towards difficulties in efficiently utilizing equity capital. With an ROE of 1.49%, the company may encounter challenges in delivering satisfactory returns for shareholders.
Return on Assets (ROA): Regency Centers’s ROA is below industry standards, pointing towards difficulties in efficiently utilizing assets. With an ROA of 0.79%, the company may encounter challenges in delivering satisfactory returns from its assets.
Debt Management: Regency Centers’s debt-to-equity ratio is below the industry average at 0.76, reflecting a lower dependency on debt financing and a more conservative financial approach.
To track all earnings releases for Regency Centers visit their earnings calendar on our site.
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.