Articles for author: Ron Finklestien

January 4, 2024

Ron Finklestien

Great Lakes Dredge & Dock Faces Empire Wind 2 Contract Cancellation Great Lakes Dredge & Dock Faces Empire Wind 2 Contract Cancellation

fokkebok Great Lakes Dredge & Dock, listed on the NASDAQ as GLDD, faced disconcerting news on Thursday. The company announced that Empire Offshore Wind had terminated the rock installation contract for Empire Wind 2, originally scheduled to begin in 2026. A consortium led by Great Lakes had been appointed by Empire Wind for rock installation for the Empire Wind 1 and 2 projects, with installation windows in 2025 and 2026, respectively. Earlier in the week, Equinor and BP opted to cancel their agreement to sell power to New York state from the Empire Wind 2 project. They attributed this decision

January 4, 2024

Ron Finklestien

AB InBev’s Growth Potential Pricing Actions, Premiumization to Aid AB InBev’s (BUD) Growth

Anheuser-Busch InBev SA/NV BUD, commonly known as AB InBev, is geared up for expansion due to sustained consumer demand for its brand portfolio. The company’s accelerated digital transformation, pricing actions, revenue management initiatives, and ongoing premiumization are propelling its growth trajectory. The company’s strategy has been centered around offering premium beer variants, aligning with the consumer premiumization trend in the alcohol industry. It has been committed to developing a diverse portfolio of global, international, and crafts and specialty premium brands within its markets. In addition to the premium brands, BUD’s global brands have been leading the charge in premiumization. AB

January 4, 2024

Ron Finklestien

Exciting Developments in the Mineral and Recycling Sectors Exciting Developments in the Mineral and Recycling Sectors

Foremost Lithium Receives Grant for Zoro Project Foremost Lithium Resource & Technology Ltd. FMST announced that it received its third $300,000 grant from the Manitoba Mineral Development Fund to support its 7,500-meter diamond drill program at its Zoro Lithium Project. “Foremost Lithium stands as a reputable company that has achieved remarkable advancements on their properties in Manitoba. They are widely recognized for their substantial geological potential in terms of valuable mineral deposits,” said Edward Suzuki, program manager of The Manitoba Mineral Development Fund. “Through their diligent efforts, they have successfully identified and defined their lithium resources, clearly showcasing the significance of these

January 4, 2024

Ron Finklestien

Equifax Named Top Pick For 2024 By Needham, Price Target Raised On Expected Mortgage Rate Tailwinds Equifax’s Momentum Soars: Needham Names Them Top Pick for 2024

Needham analyst Kyle Peterson maintains Equifax Inc EFX with a Buy and raises the price target from $230 to $305. Kyle Peterson, a discerning analyst at Needham, has crowned Equifax Inc as his Top Pick for 2024, dethroning the erstwhile champion, HireRight Holdings Corp. After facing pressure in its fundamentals due to a mid-FY22 spike in mortgage rates, Equifax Inc has received a favorable prognosis from Peterson, who anticipates a significant tailwind in 2024 stemming from a recent decline in interest rates. Beyond the realm of mortgages, Equifax’s non-mortgage businesses have been flourishing, expanding through innovative products, augmented pricing strategies,

January 4, 2024

Ron Finklestien

Simply Good Foods Earnings Report Spikes Stock Value Simply Good Foods Earnings Report Spurs Stock Surge

da-kuk Simply Good Foods Company (NASDAQ:SMPL) experienced a significant rally on Thursday following the release of its FQ1 earnings report, which prompted a surge of investor optimism. While the company’s revenue witnessed a modest decline of 2.6% year-over-year, dropping to $308.7M, it managed to narrowly exceed both adjusted EBIDA and profit estimates. The backbone of SMPL’s sales performance was the robust growth in Quest, compensating for the sluggishness in Atkins. Notably, North America sales surged by 2.6%, and international sales exhibited a 0.7% increase compared to the previous year. The gross margin stood at 37.3% of sales, compared to 36.9%

January 4, 2024

Ron Finklestien

TotalEnergies (TTE) Starts Producing From Mero Field Second Phase Exciting Development: TotalEnergies (TTE) Commences Production in Mero Field’s Second Phase

TotalEnergies SE TTE has announced the commencement of production from the second development phase of the Mero field, situated on the Libra block over 112 miles (180 kilometers) off the coast of Rio de Janeiro, Brazil, in the pre-salt area of the Santos Basin. The Mero field is a unitized field, operated by Petrobras PBR with a 38.6% stake, in collaboration with TotalEnergies (19.3%), Shell plc SHEL’s Brazil unit (19.3%), CNPC (9.65%), CNOOC (9.65%), and Pré-Sal Petróleo S.A (PPSA) (3.5%). The Sepetiba FPSO (Floating Production, Storage and Offloading unit), sanctioned in June 2019 as part of the Mero-2 second development

January 4, 2024

Ron Finklestien

Atai Invests $50M In Beckley Psytech For Short-Duration Psychedelics Development Atai’s $50 Million Investment in Beckley Psytech’s Psychedelics Development

Biopharma and resources-pooling company Atai Life Sciences ATAI has invested a total of $50 million in Beckley Psytech Ltd., a U.K.-based clinical-stage biotech advancing short-duration psychedelics for neuropsychiatric conditions. Following the investment –$40 million direct and an additional $10 million in secondary share purchases from existing shareholders. Beckley Psytech will remain an independent, private company, with Atai owning 35.5% of it.  Upon closing, Atai will receive 1:1 warrant coverage at a 30% premium on primary issuances, have the right to appoint and hold 3 of 9 seats in Beckley’s board of directors and hold a time-limited right of first refusal on future company sale, asset sales

January 4, 2024

Ron Finklestien

Rare December Stock Selections from 34 Analysts Rare December Stock Selections from 34 Analysts

December saw a recent market surge even higher, with the S&P 500 notching gains of nearly +14% over the final 2 months of 2023. The question remains: are there any overlooked investment gems still sparkling in the market? Below, we present a collection of December Buy recommendations compiled from analysts who issued no other bullish calls over the past 3 months. For your convenience, we have categorized the opportunities by sector. Consumer Discretionary Consumer Staples Utilities Energy Materials Ownership Rights Technology Industrials Pharma & Healthcare Biotech Entertainment REITs & Real Estate Preferred Shares ETFs & Closed-End Funds Inclusion Criteria: The

January 4, 2024

Ron Finklestien

Key Market Movement in Communication Services Sector Key Market Movement in Communication Services Sector

Jan. 04, 2024 3:01 PM ET MCHX, AMC, ABTS, CXDO, ATUS, BODY, PGRU, ADTH, AREN By: Tiyashi Datta, SA News Editor hxdbzxy/iStock via Getty Images Gainers: Arena Group Holdings (AREN) +25%. Beachbody Company (BODY) +11%. AdTheorent Holding Company (ADTH) +6%. Abits Group (ABTS) +6%. Marchex (MCHX) +5%. Losers: PropertyGuru Group (PGRU) -8%. Altice USA (ATUS) -7%. Crexendo (CXDO) -6%. AMC Entertainment Holdings (AMC-5%. S&P 500 Communication Services sector is down 0.5% at $242.91. Telecommunication Services is up 0.6%, Media & Entertainment down 0.6%. More on Communication Services Select Sector SPDR Fund

January 4, 2024

Ron Finklestien

M-tron (MPTI) Hits 52-Week High: Here’s What’s Driving It

M-tron Industries, Inc. (MPTI) reached a new 52-week high of $41.62 on Jan 3. The stock pulled back to end the trading session at $36.23, down 1.5% from the previous day’s closing price of $36.79. Riding the Surge This Zacks Rank #1 (Strong Buy) company’s shares have surged 236.9% in the past six months, outperforming the Zacks Engineering – R and D Services industry’s 3.8% growth, the Construction sector’s 13.2% increase and the S&P 500 Index’s 5.7% rise. Historical Context M-tron is benefiting from increased customer demand, especially for defense products despite lingering supply-chain constraints, and diverse end-markets. The advance