Upcoming AWS Coverage on JD.com Post-Earnings Results

LONDON, UK / ACCESSWIRE / May 30, 2017 / Active Wall St. announces its post-earnings coverage on trivago N.V. (NASDAQ: TRVG). The Company posted its first quarter fiscal 2017 financial results on May 15, 2017. The hotel booking site reiterated its FY17 with revenue expected to grow 50% on a y-o-y basis. Register with us now for your free membership at: http://www.activewallst.com/register/.

One of trivago’s competitors within the Internet Information Providers space, JD.com, Inc. (NASDAQ: JD), announced on May 08, 2017, its unaudited financial results for Q1 2017 which ended on March 31, 2017. AWS will be initiating a research report on JD.com in the coming days.

Today, AWS is promoting its earnings coverage on TRVG; touching on JD. Get our free coverage by signing up to http://www.activewallst.com/register/.

Earnings Reviewed

For the three months ended March 31, 2017, trivago’s total revenue increased 68% to €267.6 million compared to €159.4 million in Q1 2016. The Company’s revenue growth was primarily driven by an increase in advertising spending both during Q4 2016 and Q1 2017.

During Q1 2017, trivago’s referral revenue from Americas surged 77% to €102.2 million, while Europe also demonstrated solid growth with referral revenue increasing 44% to €113.5 million. The Company’s Rest of World (RoW) segment also reported strong growth trajectory, primarily driven by increased marketing activity in Japan, India, and Russia, with referral revenue for the segment up 128% on a y-o-y basis to €48.6 million.

At the end of Q1 2017, over 280,000 hoteliers engaged through Hotel Manager directly with trivago’s platform, of which over 30,000 subscribed to Hotel Manager Pro.
Trivago’s adjusted EBITDA was €19.3 million in Q1 2017 compared to €7.7 million in Q1 2016 reflecting an increase of 151% period over period. The Company’s net income increased to €7.7 million in the reported quarter, turning positive from loss of € (0.1) million in the year earlier same quarter.

Qualified Referrals by Segment (in millions)

During Q1 2017, trivago’s number of Qualified Referrals increased by 60% to 177.2 million compared to 110.5 million in Q1 2016 with 55.5 million, 73.6 million, and 48.2 million Qualified Referrals in Americas, Developed Europe, and RoW, respectively. The Company’s revenue per Qualified Referral (RPQR) in the reported quarter had increased by 4% on a y-o-y basis to €1.49.

Cost of revenue

During Q1 2017, trivago’s cost of revenue, which includes data center and server costs as well as user support functions, increased €0.4 million, or 51%, as the business continues to make investments to reach scale. The Company’s selling and marketing expense grew €91.3 million, or 65%, during the reported quarter.

For Q1 2017, trivago’s total technology and content expense increased by €4.1 million, or 54%, mainly driven by an increase in personnel costs as the Company continues to grow its headcount. Of the €11.7 million expense, €1.0 million was share-based compensation, and €0.4 million was depreciation of internal-use software and website development.

Amortization of intangible assets

trivago recorded amortization of intangible assets of €2.0 million in Q1 2017 compared to €6.3 million in Q1 2016. These amortization costs relate predominantly to intangible assets recognized by Expedia, Inc. upon the acquisition of a majority stake in trivago in 2013, which were allocated to trivago.

Balance sheet, cash flows, and capitalization

As of March 31, 2017, trivago’s cash and cash equivalents (including €0.8 million restricted cash) totaled €217.4 million compared to €228.2 million as of December 31, 2016. The decrease was mainly driven by accounts receivable increasing more than accounts payable in the reported quarter. The Company stated that its receivables vary significantly on a q-o-q basis, reflecting seasonal fluctuations in the demand for its services. Accordingly, accounts receivable increased by €61.9 million, or 116%, in Q1 2017. trivago’s accounts payable increased by €35.9 million, or 90%, in the reported quarter due to the seasonal ramp-up in advertising expenses.

Stock Performance

trivago N.V.’s share price finished last Friday’s trading session at $19.37, slightly advancing 0.10%. A total volume of 583.35 thousand shares exchanged hands. The stock has soared 27.27% and 60.61% in the last one month and past three months, respectively. Furthermore, since the start of the year, shares of the Company have skyrocketed 64.85%. The stock currently has a market cap of $4.63 billion.

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Active Wall Street:

Active Wall Street (AWS) produces regular sponsored and non-sponsored reports, articles, stock market blogs, and popular investment newsletters covering equities listed on NYSE and NASDAQ and micro-cap stocks. AWS has two distinct and independent departments. One department produces non-sponsored analyst certified content generally in the form of press releases, articles and reports covering equities listed on NYSE and NASDAQ and the other produces sponsored content (in most cases not reviewed by a registered analyst), which typically consists of compensated investment newsletters, articles and reports covering listed stocks and micro-caps. Such sponsored content is outside the scope of procedures detailed below.

AWS has not been compensated; directly or indirectly; for producing or publishing this document.

PRESS RELEASE PROCEDURES:

The non-sponsored content contained herein has been prepared by a writer (the “Author”) and is fact checked and reviewed by a third party research service company (the “Reviewer”) represented by a credentialed financial analyst, for further information on analyst credentials, please email info@activewallst.com. Rohit Tuli, a CFA® charterholder (the “Sponsor”), provides necessary guidance in preparing the document templates. The Reviewer has reviewed and revised the content, as necessary, based on publicly available information which is believed to be reliable. Content is researched, written and reviewed on a reasonable-effort basis. The Reviewer has not performed any independent investigations or forensic audits to validate the information herein. The Reviewer has only independently reviewed the information provided by the Author according to the procedures outlined by AWS. AWS is not entitled to veto or interfere in the application of such procedures by the third-party research service company to the articles, documents or reports, as the case may be. Unless otherwise noted, any content outside of this document has no association with the Author or the Reviewer in any way.

NO WARRANTY

AWS, the Author, and the Reviewer are not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted whatsoever for any direct, indirect or consequential loss arising from the use of this document. AWS, the Author, and the Reviewer expressly disclaim any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Additionally, AWS, the Author, and the Reviewer do not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.

NOT AN OFFERING

This document is not intended as an offering, recommendation, or a solicitation of an offer to buy or sell the securities mentioned or discussed, and is to be used for informational purposes only. Please read all associated disclosures and disclaimers in full before investing. Neither AWS nor any party affiliated with us is a registered investment adviser or broker-dealer with any agency or in any jurisdiction whatsoever. To download our report(s), read our disclosures, or for more information, visit http://www.activewallst.com/disclaimer/.

CONTACT

For any questions, inquiries, or comments reach out to us directly. If you’re a company we are covering and wish to no longer feature on our coverage list contact us via email and/or phone between 09:30 EDT to 16:00 EDT from Monday to Friday at:

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Office Address: 3rd floor, 207 Regent Street, London, W1B 3HH, United Kingdom

CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.

ReleaseID: 464419

LONDON, UK / ACCESSWIRE / May 30, 2017 / Active Wall St. blog coverage looks at the headline from private prison operator The GEO Group, Inc. (NYSE: GEO) as the Company announced on May 26, 2017, that it had bagged two 10-year contracts from the Federal Bureau of Prisons (BOP). The 10-year period is inclusive of the renewal option periods. The total value of the two contracts for the 10-year period is approximately $664 million. Register with us now for your free membership and blog access at: http://www.activewallst.com/register/.

One of GEO Group’s competitors within the REIT – Healthcare Facilities space, Welltower Inc. (NYSE: HCN), announced on May 05, 2017, its financial results for Q1 2017 which ended on March 31, 2017. AWS will be initiating a research report on Welltower in the coming days.

Today, AWS is promoting its blog coverage on GEO; touching on HCN. Get all of our free blog coverage and more by clicking on the link below: http://www.activewallst.com/register/.

Commenting on the matter, George C. Zoley, GEO Group’s Chairman and CEO said: “We’re pleased to have been able to strengthen our long-standing partnership with the BOP with these important contract awards. Our Big Spring and Flight Line Facilities will play an important role in helping the agency meet its long-term need for high quality, cost-effective services that comply with the BOP’s mandated standards.”

Details of the contracts

The two contracts are for the continued housing of criminal aliens under the custody of BOP at two facilities owned by the Company at Big Spring Correctional Center in Texas. One contract is for GEO Group’s Big Spring Facility with 1,800 beds and the second contract is for GEO’s Flight Line Facility which has 1,732-beds.

BOP had issued a Criminal Alien Requirement (CAR) 16 in 2015. CAR 16 are long-standing procurements issued by BOP, and GEO Group was awarded these contracts as per these requirements. During the tenure of 10 years, both these contracts are expected to generate total revenue of approximately $664 million. GEO Group has already factored in the revenues from these contracts in its financial guidance for FY17 which it disclosed on May 02, 2017.

About GEO and its public-private partnerships

Founded in 1984, GEO Group is a real estate investment trust (REIT) that is the world’s leading provider in the delivery of diversified correctional, detention, and residential treatment services to government agencies around the globe. It not only builds and develops state-of-the-art correctional and detention facilities and provides management services, but also offers evidence-based rehabilitation, post-release reintegration, support services, and supervision of individuals.

Its operations are spread across the US, Australia, South Africa, and UK. As of April 2017, GEO Group’s worldwide operations include the ownership and/or management of 143 facilities totaling approximately 100,000 beds, including projects under development and are supported by a team of approximately 23,500 professionals.

In US, GEO Group has been in a public-private partnership with several federal agencies including with BOP since 1990s. In April 2017, GEO Group bagged a contract with the US Immigration and Customs Enforcement (ICE) for the development and operation of a new 1,000-bed Detention Facility at Conroe, Texas for approximately $110 million. In April 2017, GEO also completed the acquisition of Community Education Centers (CEC) to expand its reach in Correctional, Detention, Re-entry, and Rehabilitation Services.

In December 2016, GEO Group signed a five-year contract with Charlton County and ICE for 780 beds at its facility in Folkston, Georgia, for housing immigration detainees, and it was named the Folkston ICE Processing Center.

Stock Performance

On Friday, May 26, 2017, The GEO Group’s shares were slightly down 0.93%, finishing the day at $30.84 with volume of 659.12 thousand shares exchanging hands by the close of the trading session. In the last six months and previous twelve months, shares of the Company have soared 42.29% and 39.42%, respectively. Moreover, the stock surged 28.75% since the start of the year. Shares of the Company have a PE ratio of 22.09. The stock has a dividend yield of 6.10% and currently has a market cap of $3.86 billion.

—

Active Wall Street:

Active Wall Street (AWS) produces regular sponsored and non-sponsored reports, articles, stock market blogs, and popular investment newsletters covering equities listed on NYSE and NASDAQ and micro-cap stocks. AWS has two distinct and independent departments. One department produces non-sponsored analyst certified content generally in the form of press releases, articles and reports covering equities listed on NYSE and NASDAQ and the other produces sponsored content (in most cases not reviewed by a registered analyst), which typically consists of compensated investment newsletters, articles and reports covering listed stocks and micro-caps. Such sponsored content is outside the scope of procedures detailed below.

AWS has not been compensated; directly or indirectly; for producing or publishing this document.

PRESS RELEASE PROCEDURES:

The non-sponsored content contained herein has been prepared by a writer (the “Author”) and is fact checked and reviewed by a third party research service company (the “Reviewer”) represented by a credentialed financial analyst [for further information on analyst credentials, please email info@activewallst.com. Rohit Tuli, a CFA® charterholder (the “Sponsor”), provides necessary guidance in preparing the document templates. The Reviewer has reviewed and revised the content, as necessary, based on publicly available information which is believed to be reliable. Content is researched, written and reviewed on a reasonable-effort basis. The Reviewer has not performed any independent investigations or forensic audits to validate the information herein. The Reviewer has only independently reviewed the information provided by the Author according to the procedures outlined by AWS. AWS is not entitled to veto or interfere in the application of such procedures by the third-party research service company to the articles, documents or reports, as the case may be. Unless otherwise noted, any content outside of this document has no association with the Author or the Reviewer in any way.

NO WARRANTY

AWS, the Author, and the Reviewer are not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted whatsoever for any direct, indirect or consequential loss arising from the use of this document. AWS, the Author, and the Reviewer expressly disclaim any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Additionally, AWS, the Author, and the Reviewer do not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.

NOT AN OFFERING

This document is not intended as an offering, recommendation, or a solicitation of an offer to buy or sell the securities mentioned or discussed, and is to be used for informational purposes only. Please read all associated disclosures and disclaimers in full before investing. Neither AWS nor any party affiliated with us is a registered investment adviser or broker-dealer with any agency or in any jurisdiction whatsoever. To download our report(s), read our disclosures, or for more information, visit http://www.activewallst.com/disclaimer/

CONTACT

For any questions, inquiries, or comments reach out to us directly. If you’re a company we are covering and wish to no longer feature on our coverage list contact us via email and/or phone between 09:30 EDT to 16:00 EDT from Monday to Friday at:

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Phone number: 1-858-257-3144

Office Address: 3rd floor, 207 Regent Street, London, W1B 3HH, United Kingdom

CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.

ReleaseID: 464421

Upcoming AWS Coverage on Wendy’s Post-Earnings Results

LONDON, UK / ACCESSWIRE / May 30, 2017 / Active Wall St. blog coverage looks at the headline from Biglari Holdings Inc. (NYSE: BH) as the Company and Pacific Specialty Insurance Company announced on May 25, 2017, an agreement, under which Biglari would acquire all the outstanding shares of the parent Company of Pacific Specialty, and its affiliated agency, McGraw Insurance, Inc., from its shareholders Michael J. McGraw and John M. McGraw. Register with us now for your free membership and blog access at: http://www.activewallst.com/register/.

One of Biglari Holdings’ competitors within the Restaurants space, The Wendy’s Company (NASDAQ: WEN), reported on May 10, 2017, its unaudited results for Q1 2017 which ended on April 02, 2017. AWS will be initiating a research report on Wendy’s in the coming days.

Today, AWS is promoting its blog coverage on BH; touching on WEN. Get all of our free blog coverage and more by clicking on the link below:
http://www.activewallst.com/register/.

Acquisition Details

As per terms of the transaction agreement, Biglari, which owns fast food chain Steak ‘n Shake, Maxim magazine, First Guard Insurance, and restaurant chain Western Sizzlin, will execute this acquisition through its subsidiary, BHIC Inc. The Company will acquire Western Service Contract Corporation, the parent Company of Pacific Specialty, and McGraw Insurance, Inc. for about $299.5 million, under which $24 million will be payable in cash at the closing of the transaction and $275.5 million as deferred payments. Out of these, Biglari has agreed to pay $175.5 million in cash over a period of 10 years and the remaining $100 million would be payable by a promissory note that matures upon the death of Micheal J. McGraw, or in 10 years following closing should his death occur within that time period. As per the agreement the interest rate during his lifetime is set at 6% per annum.

Pacific Specialty is set to benefit from the parent Company’s strength and stability, and the ownership change will not have any material impact on its day-to-day operations, where Pacific Specialty and its affiliated agency will operate independently of Biglari Holdings’ other insurance operations. Pacific Specialty views this agreement as a step to attain new profit milestones and achieve operational efficiency while operating under Biglari’s portfolio. Pacific Specialty currently operates as an admitted insurance firm across all 50 states and the District of Columbia.

Sardar Biglari, Chairman and CEO of Biglari Holdings, said:

“For over 40 years the McGraw family has built an excellent insurance business with a distinguished performance. Mike McGraw will run the company as he has in the past, an essential part of our purchase decision. A family managed business such as the one by the McGraw’s fits well within Biglari Holdings’ collection of businesses. By becoming a constituent company of Biglari Holdings, Pacific Specialty and its affiliated agency will benefit from the parent company’s strength and stability.”

The transaction is subject to customary closing conditions, including regulatory approvals. The Company expects the deal to be completed in Q3 2017.

Earnings results

Biglari Holdings reported on May 05, 2017, its Q1 FY17 results for the period ending March 31, 2017. The Company announced net pre-tax operating earnings of $2.20 million for Q1 FY17, which was lower than $4.69 million for Q1 FY16. The investment partnership loss stood at $24.97 million versus an investment partnership profit of $78.97 for Q1 FY16. The net interest expenses for the period was $2.82 million in Q1 FY17 against $2.92 million for Q1 FY16. Biglari Holdings reported net loss of $15.82 million for Q1 FY17, while it reported net profits of $51.16 million for Q1 FY16.

Stock Performance

On Friday, May 26, 2017, Biglari Holdings’ stock closed the trading session at $389.93, climbing 1.59% from its previous closing price of $383.83. A total volume of 5.19 thousand shares have exchanged hands, which was higher than the 3-month average volume of 4.27 thousand shares. For the last twelve months, the stock has gained 2.22%. Shares of the company have a PE ratio of 14.45 and currently have a market cap of $795.46 million.

Active Wall Street:

Active Wall Street (AWS) produces regular sponsored and non-sponsored reports, articles, stock market blogs, and popular investment newsletters covering equities listed on NYSE and NASDAQ and micro-cap stocks. AWS has two distinct and independent departments. One department produces non-sponsored analyst certified content generally in the form of press releases, articles and reports covering equities listed on NYSE and NASDAQ and the other produces sponsored content (in most cases not reviewed by a registered analyst), which typically consists of compensated investment newsletters, articles and reports covering listed stocks and micro-caps. Such sponsored content is outside the scope of procedures detailed below.

AWS has not been compensated; directly or indirectly; for producing or publishing this document.

PRESS RELEASE PROCEDURES:

The non-sponsored content contained herein has been prepared by a writer (the “Author”) and is fact checked and reviewed by a third party research service company (the “Reviewer”) represented by a credentialed financial analyst, for further information on analyst credentials, please email info@activewallst.com. Rohit Tuli, a CFA® charterholder (the “Sponsor”), provides necessary guidance in preparing the document templates. The Reviewer has reviewed and revised the content, as necessary, based on publicly available information which is believed to be reliable. Content is researched, written and reviewed on a reasonable-effort basis. The Reviewer has not performed any independent investigations or forensic audits to validate the information herein. The Reviewer has only independently reviewed the information provided by the Author according to the procedures outlined by AWS. AWS is not entitled to veto or interfere in the application of such procedures by the third-party research service company to the articles, documents or reports, as the case may be. Unless otherwise noted, any content outside of this document has no association with the Author or the Reviewer in any way.

NO WARRANTY

AWS, the Author, and the Reviewer are not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted whatsoever for any direct, indirect or consequential loss arising from the use of this document. AWS, the Author, and the Reviewer expressly disclaim any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Additionally, AWS, the Author, and the Reviewer do not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.

NOT AN OFFERING

This document is not intended as an offering, recommendation, or a solicitation of an offer to buy or sell the securities mentioned or discussed, and is to be used for informational purposes only. Please read all associated disclosures and disclaimers in full before investing. Neither AWS nor any party affiliated with us is a registered investment adviser or broker-dealer with any agency or in any jurisdiction whatsoever. To download our report(s), read our disclosures, or for more information, visit http://www.activewallst.com/disclaimer/.

CONTACT
For any questions, inquiries, or comments reach out to us directly. If you’re a company we are covering and wish to no longer feature on our coverage list contact us via email and/or phone between 09:30 EDT to 16:00 EDT from Monday to Friday at:

Email: info@activewallst.com
Phone number: 1-858-257-3144

Office Address: 3rd floor, 207 Regent Street, London, W1B 3HH, United Kingdom

CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.

SOURCE: Active Wall Street

ReleaseID: 464418

Thanks to the Recently Upgraded Site, Property Owners and Renters can Easily Access the Many Services that Katy Property Management Offers their Clients

KATY, TX / ACCESSWIRE / May 30, 2017 / The founders of Katy Property Management, a property management company located in Katy, Texas, are pleased to announce the launch of their redesigned and mobile friendly website.

To learn more about Katy Property Management and the services that they offer their clients in and around the Houston area, please check out http://katypropertymanagement.com/houston/.

As a company spokesperson noted, the founders of Katy Property Management know that more people than ever are using their smartphones and tablets to access the internet and conduct business, set up accounts and do other things.

This knowledge inspired them to redesign their website, and make it possible for people who are accessing it from their mobile devices to see all of the information on the site quickly and easily.

The fact that Katy Property Management would spend the time and money to redesign their site to make it as user-friendly as possible will not surprise the many owners and renters who have worked with them over the years. Since the company first opened in 1985, it has earned a well-deserved reputation for going the extra mile for their valued clients.

“Katy Property Management manages properties in the greater Houston area and surrounding suburbs for small and large investors,” the spokesperson noted, adding that they also handle all aspects of property maintenance including efficient leasing of properties and cost-effective property maintenance, marketing, tenant screening and accounting.l

“In addition to excellent customer service, Katy Property Management also utilizes technology to enhance communication with owners and residents. We are accessible 24 hours a day via email or we are just a phone call away.”

The Katy Property Management website also features a handy Owner portal, which allows property owners access to information on their property expenditures 24/7. Renters may also pay their rent through the site.

Everything that Katy Property Management does – from its new mobile friendly website to taking excellent care of their valued customers -is designed to make their clients’ lives as stress-free as possible when it comes to their investment properties.

About Katy Property Management:

Katy Property Management, established in 1985, is a service-oriented property management company whose mission is to provide the best possible customer service in the property management market. For more information, please visit http://katypropertymanagement.com/.

Contact:

Dwayne Cunningham
admin@rocketfactor.com
(949) 555-2861

SOURCE: Katy Property Management

ReleaseID: 464412

Upcoming AWS Coverage on Fossil Group Post-Earnings Results

LONDON, UK / ACCESSWIRE / May 30, 2017 / Active Wall St. announces its post-earnings coverage on Wolverine World Wide, Inc. (NYSE: WWW) (“Wolverine”). The Company announced its financial results for the first quarter fiscal 2017 (Q1 2017) on May 10, 2017. The footwear maker’s adjusted earnings jumped 19% on a y-o-y basis. Register with us now for your free membership at: http://www.activewallst.com/register/.

One of Wolverine World Wide’s competitors within the Textile – Apparel Footwear & Accessories space, Fossil Group, Inc. (NASDAQ: FOSL), reported on May 09, 2017, its financial results for the fiscal quarter ended April 01, 2017. AWS will be initiating a research report on Fossil Group in the coming days.

Today, AWS is promoting its earnings coverage on WWW; touching on FOSL. Get our free coverage by signing up to http://www.activewallst.com/register/.

Earnings Reviewed

In Q1 FY17, Wolverine reported net sales of $591.3 million compared to net sales of $577.6 million in Q1 FY16. The Company’s revenue decreased by 4.8% after taking into consideration the impact of the additional week of operations in Q1 FY17. Wolverine’s revenue numbers came in better than analysts’ consensus estimates of $556.6 million.

In Q1 FY17, Wolverine reported gross margin of 39.7% compared to 39.6% in Q1 FY16. The Company’s adjusted gross margin on a constant currency basis was 41.7% for the reported year, up 120 basis points versus the prior year.

Wolverine reported Q1 FY17 net earnings of $16.8 million, or $0.17 per diluted earnings share, compared to $17.6 million, or $0.18 per diluted earnings share, in Q1 FY16. The Company’s adjusted diluted earnings per share were $0.37 compared to $0.31 in the prior year, and ahead of Wall Street’s estimates of $0.31 per share.

Operating Metrics

For the 13 weeks ended on April 01, 2017, Wolverine reported operating profit of $32.6 million compared to $34.0 million in the prior year. In Q1 FY17, the Company reported operating margin of 5.5% compared to 5.9% in Q1 FY16. Adjusted operating margin on a constant currency basis was 11.0%, up 260 basis points versus the prior year and excluded $4.4 million of incremental inventory markdowns related to the accelerated store closings.

Cash Flow and Balance sheet

In Q1 FY17, Wolverine utilized $30.8 million in cash from operations compared to $78.9 million in cash from operations in Q1 FY16. The Company had cash and cash equivalents balance of $304.1 million as on April 01, 2017, compared to $158.2 million at the end of March 26, 2016. In Q1 FY17, Wolverine reported inventory at the end of the quarter was down 25.9% on a y-o-y basis.

Store Update

Wolverine stated that its Store Restructuring Plan has accelerated, with 180 stores now closed since the beginning of 2017. The Company incurred approximately $9.2 million of operating losses in Q1 FY17 for stores within the Plan that will not reoccur next year. The losses include $4.4 million of inventory mark-downs related to accelerated store closures. Wolverine noted that, All Stride Rite and Track-N-Trail concept stores are now closed. These store closures allowed the Company to liquidate inventory totaling approximately $20 million during the reported quarter.

Dividend

In a separated press release on May 03, 2017, Wolverine announced that its Board of Directors declared a quarterly cash dividend of $0.06 per share of common stock. The dividend is payable on August 01, 2017, to stockholders of record on July 03, 2017. The dividend is equal to the last quarterly dividend and reflected an indicated annual dividend of $0.24 per share.

Outlook

For FY17, Wolverine is estimating revenue in the range of $2.27 billion to $2.37 billion, unchanged from the Company’s previous outlook. The Company is expecting underlying revenue in the range of down 2.3% to growth of 1.9%, reflecting approximately $160 million to $180 million of impact from currency and retail store closures.

For FY17, Wolverine is forecasting operating margin in the range of 5.2% to 5.9% and adjusted operating margin in the range of 10.2% to 10.7%, resulting from operational excellence initiatives focused on supply chain optimization, Omni channel transformation, and operational efficiencies. The Company in projecting FY17 diluted earnings per share in the range of $0.73 to $0.83. Furthermore, adjusted diluted earnings per share are expected in the range of $1.50 to $1.60 compared to $1.36 in FY16.

Stock Performance

At the close of trading session on Friday, May 26, 2017, Wolverine World Wide’s stock price climbed 2.33% to end the day at $25.95. A total volume of 675.00 thousand shares were exchanged during the session. Wolverine World Wide’s stock price advanced 6.18% in the last month, 1.33% in the past three months, and 4.01% in the previous six months. Moreover, the stock surged 18.22% since the start of the year. The Company’s shares are trading at a PE ratio of 29.39 and have a dividend yield of 0.92%. The stock currently has a market cap of $2.46 billion.

—

Active Wall Street:

Active Wall Street (AWS) produces regular sponsored and non-sponsored reports, articles, stock market blogs, and popular investment newsletters covering equities listed on NYSE and NASDAQ and micro-cap stocks. AWS has two distinct and independent departments. One department produces non-sponsored analyst certified content generally in the form of press releases, articles and reports covering equities listed on NYSE and NASDAQ and the other produces sponsored content (in most cases not reviewed by a registered analyst), which typically consists of compensated investment newsletters, articles and reports covering listed stocks and micro-caps. Such sponsored content is outside the scope of procedures detailed below.

AWS has not been compensated; directly or indirectly; for producing or publishing this document.

PRESS RELEASE PROCEDURES:

The non-sponsored content contained herein has been prepared by a writer (the “Author”) and is fact checked and reviewed by a third party research service company (the “Reviewer”) represented by a credentialed financial analyst, for further information on analyst credentials, please email info@activewallst.com. Rohit Tuli, a CFA® charterholder (the “Sponsor”), provides necessary guidance in preparing the document templates. The Reviewer has reviewed and revised the content, as necessary, based on publicly available information which is believed to be reliable. Content is researched, written and reviewed on a reasonable-effort basis. The Reviewer has not performed any independent investigations or forensic audits to validate the information herein. The Reviewer has only independently reviewed the information provided by the Author according to the procedures outlined by AWS. AWS is not entitled to veto or interfere in the application of such procedures by the third-party research service company to the articles, documents or reports, as the case may be. Unless otherwise noted, any content outside of this document has no association with the Author or the Reviewer in any way.

NO WARRANTY

AWS, the Author, and the Reviewer are not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted whatsoever for any direct, indirect or consequential loss arising from the use of this document. AWS, the Author, and the Reviewer expressly disclaim any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Additionally, AWS, the Author, and the Reviewer do not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.

NOT AN OFFERING

This document is not intended as an offering, recommendation, or a solicitation of an offer to buy or sell the securities mentioned or discussed, and is to be used for informational purposes only. Please read all associated disclosures and disclaimers in full before investing. Neither AWS nor any party affiliated with us is a registered investment adviser or broker-dealer with any agency or in any jurisdiction whatsoever. To download our report(s), read our disclosures, or for more information, visit http://www.activewallst.com/disclaimer/.

CONTACT

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LONDON, UK / ACCESSWIRE / May 30, 2017 / Active Wall St. blog coverage looks at the headline from BlackBerry Ltd (NASDAQ: BBRY) and Qualcomm Inc. (NASDAQ: QCOM). BlackBerry announced on May 26, 2017, that it has reached an agreement with Qualcomm, resolving all amounts payable, in reference to the interim arbitration decision announced on April 12, 2017. Post a joint stipulation by the parties, the arbitration panel has issued a final award, where Qualcomm will pay BlackBerry a total amount of $940 million including interest and attorney’s fees, net of certain royalties due from BlackBerry for FY16 and Q1 FY17. Qualcomm is legible to pay the full amount of the final award by May 31, 2017. Register with us now for your free membership and blog access at: http://www.activewallst.com/register/.

Today, AWS is promoting its blog coverage on BBRY and QCOM. Get all of our free blog coverage and more by clicking on the link below:
http://www.activewallst.com/register/.

Qualcomm Arbitration

On April 12, 2017, BlackBerry announced a binding interim arbitration decision, offering the Company $814.87 million in royalty payments made to Qualcomm. On April 20, 2016, Blackberry and Qualcomm entered into an agreement to arbitrate a dispute concerning Qualcomm’s agreement to cap certain royalties applied to payments made by BlackBerry under a license agreement midst the parties. The binding arbitration hearing was held in San Diego, California from February 27, 2017, to March 03, 2017, under Judicial Arbitration and Mediation Services rules.

This arbitration payment is to refund BlackBerry’s overpayment of royalty fees to Qualcomm. The Company made advance royalty payments on Qualcomm’s patents where Qualcomm argued it was nonrefundable but Blackberry won the battle because the Company did not manufacture the phones involving those prepaid royalty fees. Blackberry initially argued that there should be a cap on those royalty payments that did not get applied at the time. The refund from Qualcomm will boost BlackBerry’s cash hoard which was $1.7 billion at the end of Q4 FY16. The Company no longer manufactures phones that used Qualcomm Technology and argued that it was due to refund after sales collapsed.

Qualcomm’s Story

Qualcomm owns multiple patents which cover the fundamentals of modern mobile technology and receives a set payment on the selling price of handsets from phone makers. The semiconductor chip maker earns a majority of its profit from the license payments. In 2010, Ontario-based BlackBerry signed a non-refundable agreement with Qualcomm to cover royalty payments through 2015. The Company shipped far fewer phones than it expected, leading it to seek a refund on some payments. Initially, Qualcomm stated on April 12, 2017, that it disagreed with the outcome of arbitration proceeding with BlackBerry, but observed that the decision was binding, and hence, could not appeal against it.

Company Growth Prospects

BlackBerry is a mobile-native security software and Services (SaaS) Company which develops devices and processes for the enterprise community. Based in Waterloo, Ontario, BlackBerry was found in 1984 and currently operates across North America, Europe, Middle-East, Asia, Latin America, and Africa. Through the proceeds from this arbitration, BlackBerry can expand in the SaaS segment and significantly elevate its position.

On April 19, 2017, BlackBerry entered into a new initiative with Allied World Assurance (NYSE: AWH) for an undisclosed amount, under which, Allied World would provide its cyber policyholders with direct access to BlackBerry’s cyber security expertise through an online self-assessment tool that identifies segments of weakness. This agreement enabled BlackBerry to expand its channel reach and help policyholders stay secure from rising cyber security threats.

Stock Performance

On Friday, May 26, 2017, the stock closed the trading session at $11.11, marginally falling 0.98% from its previous closing price of $11.22. A total volume of 10.41 million shares have exchanged hands, which was higher than the 3-month average volume of 8.10 million shares. BlackBerry’s stock price soared 56.48% in the last three months, 48.73% in the past six months, and 54.95% in the previous twelve months. Furthermore, since the start of the year, shares of the Company have skyrocketed 61.25%. The stock currently has a market cap of $5.99 billion.

On Friday, May 26, 2017, Qualcomm’s stock closed the trading session at $57.52, slipping 1.59% from its previous closing price of $58.45. A total volume of 8.22 million shares have exchanged hands. The Company’s stock price advanced 8.10% in the last month, 1.39% in the past three months, and 3.19% in the previous twelve months. The stock is trading at a PE ratio of 19.14 and has a dividend yield of 3.96%. At Friday’s closing price, the stock’s net capitalization stands at $86.36 billion.

Active Wall Street:

Active Wall Street (AWS) produces regular sponsored and non-sponsored reports, articles, stock market blogs, and popular investment newsletters covering equities listed on NYSE and NASDAQ and micro-cap stocks. AWS has two distinct and independent departments. One department produces non-sponsored analyst certified content generally in the form of press releases, articles and reports covering equities listed on NYSE and NASDAQ and the other produces sponsored content (in most cases not reviewed by a registered analyst), which typically consists of compensated investment newsletters, articles and reports covering listed stocks and micro-caps. Such sponsored content is outside the scope of procedures detailed below.

AWS has not been compensated; directly or indirectly; for producing or publishing this document.

PRESS RELEASE PROCEDURES:

The non-sponsored content contained herein has been prepared by a writer (the “Author”) and is fact checked and reviewed by a third party research service company (the “Reviewer”) represented by a credentialed financial analyst, for further information on analyst credentials, please email info@activewallst.com. Rohit Tuli, a CFA® charterholder (the “Sponsor”), provides necessary guidance in preparing the document templates. The Reviewer has reviewed and revised the content, as necessary, based on publicly available information which is believed to be reliable. Content is researched, written and reviewed on a reasonable-effort basis. The Reviewer has not performed any independent investigations or forensic audits to validate the information herein. The Reviewer has only independently reviewed the information provided by the Author according to the procedures outlined by AWS. AWS is not entitled to veto or interfere in the application of such procedures by the third-party research service company to the articles, documents or reports, as the case may be. Unless otherwise noted, any content outside of this document has no association with the Author or the Reviewer in any way.

NO WARRANTY

AWS, the Author, and the Reviewer are not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted whatsoever for any direct, indirect or consequential loss arising from the use of this document. AWS, the Author, and the Reviewer expressly disclaim any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Additionally, AWS, the Author, and the Reviewer do not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.

NOT AN OFFERING

This document is not intended as an offering, recommendation, or a solicitation of an offer to buy or sell the securities mentioned or discussed, and is to be used for informational purposes only. Please read all associated disclosures and disclaimers in full before investing. Neither AWS nor any party affiliated with us is a registered investment adviser or broker-dealer with any agency or in any jurisdiction whatsoever. To download our report(s), read our disclosures, or for more information, visit http://www.activewallst.com/disclaimer/.

CONTACT

For any questions, inquiries, or comments reach out to us directly. If you’re a company we are covering and wish to no longer feature on our coverage list contact us via email and/or phone between 09:30 EDT to 16:00 EDT from Monday to Friday at:

Email: info@activewallst.com
Phone number: 1-858-257-3144

Office Address: 3rd floor, 207 Regent Street, London, W1B 3HH, United Kingdom

CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.

SOURCE: Active Wall Street

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LONDON, UK / ACCESSWIRE / May 30, 2017 / Active Wall St. announces its dividend coverage for American National Insurance Co. (NASDAQ: ANAT). Shares of American National will begin trading ex-dividend on May 31, 2017. In order to qualify for a dividend check, investors must own the stock on or before May 30, 2017. Register with us now for your free membership at: http://www.activewallst.com/register/.

Today, AWS is promoting its ex-dividend coverage on ANAT. Get our free coverage by signing up to:
http://www.activewallst.com/register/.

Dividend Declared

The Board of Directors of American National declared a quarterly dividend of $0.82 per share on its common stock, at a meeting held on April 28, 2017. In compliance with NASDAQ’s applicable dividend notice requirements, the dividend is payable June 16, 2017, to shareholders of record as of the close of business on June 02, 2017. American National has paid dividends to stockholders for more than 100 consecutive years.

American National’s indicated dividend represents a yield of 2.78% compared to the average dividend yield for the financial sector of 3.21%, and reflects annualized dividend payout of $3.28 per share. The Company has paid the current dividend for the past five quarters. American National last increased its dividend in April 2016, increasing it from $0.80 per common stock to the current dividend of $0.82 per share. American National has a dividend payout ratio of 48.02% meaning that the Company distributes $0.48 for every $1.00 earned.

About the Company

American National Insurance, headquartered in Galveston, Texas, was founded in 1905. American National and its subsidiaries offer a broad line of products and services, which include life insurance, annuities, health insurance, credit insurance, pension products and property and casualty insurance for personal lines, agribusiness, and targeted commercial exposures in the United States, the District of Columbia, and Puerto Rico. American National has been assigned an ‘A’ rating by A.M. Best Company and an ‘A’ rating by Standard & Poor’s.

Recent Development for American National Insurance

On April 24, 2017, American National reported net income of $39.8 million, or $1.48 per diluted share, for Q1 2017 which was a 35.9% increase over net income of $29.3 million, or $1.09 per diluted share, in Q1 2016. The Company’s realized investment earnings for the reported quarter were $11.5 million, or $0.43 per diluted share, compared to $5.0 million, or $0.19 per diluted share, in Q1 2016. American National’s Life insurance in force continued to grow, increasing by $1.4 billion to reach $97.0 billion as of March 31, 2017.

At March 31, 2017, the Company’s stockholders’ equity totaled $4.7 billion, a 1.7% increase from December 31, 2016. American National’s book value per diluted share increased to $175.34 at March 31, 2017, from $172.51 at December 31, 2016.

Stock Performance

At the close of trading session on Friday, May 26, 2017, American National Insurance’s stock price rose 1.46% to end the day at $117.90. A total volume of 21.52 thousand shares were exchanged during the session. The Company’s shares are trading at a PE ratio of 16.60 and have a dividend yield of 2.78%. The stock currently has a market cap of $3.13 billion.

Active Wall Street:

Active Wall Street (AWS) produces regular sponsored and non-sponsored reports, articles, stock market blogs, and popular investment newsletters covering equities listed on NYSE and NASDAQ and micro-cap stocks. AWS has two distinct and independent departments. One department produces non-sponsored analyst certified content generally in the form of press releases, articles and reports covering equities listed on NYSE and NASDAQ and the other produces sponsored content (in most cases not reviewed by a registered analyst), which typically consists of compensated investment newsletters, articles and reports covering listed stocks and micro-caps. Such sponsored content is outside the scope of procedures detailed below.

AWS has not been compensated; directly or indirectly; for producing or publishing this document.

PRESS RELEASE PROCEDURES:

The non-sponsored content contained herein has been prepared by a writer (the “Author”) and is fact checked and reviewed by a third party research service company (the “Reviewer”) represented by a credentialed financial analyst, for further information on analyst credentials, please email info@activewallst.com. Rohit Tuli, a CFA® charterholder (the “Sponsor”), provides necessary guidance in preparing the document templates. The Reviewer has reviewed and revised the content, as necessary, based on publicly available information which is believed to be reliable. Content is researched, written and reviewed on a reasonable-effort basis. The Reviewer has not performed any independent investigations or forensic audits to validate the information herein. The Reviewer has only independently reviewed the information provided by the Author according to the procedures outlined by AWS. AWS is not entitled to veto or interfere in the application of such procedures by the third-party research service company to the articles, documents or reports, as the case may be. Unless otherwise noted, any content outside of this document has no association with the Author or the Reviewer in any way.

NO WARRANTY

AWS, the Author, and the Reviewer are not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted whatsoever for any direct, indirect or consequential loss arising from the use of this document. AWS, the Author, and the Reviewer expressly disclaim any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Additionally, AWS, the Author, and the Reviewer do not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.

NOT AN OFFERING

This document is not intended as an offering, recommendation, or a solicitation of an offer to buy or sell the securities mentioned or discussed, and is to be used for informational purposes only. Please read all associated disclosures and disclaimers in full before investing. Neither AWS nor any party affiliated with us is a registered investment adviser or broker-dealer with any agency or in any jurisdiction whatsoever. To download our report(s), read our disclosures, or for more information, visit http://www.activewallst.com/disclaimer/.

CONTACT

For any questions, inquiries, or comments reach out to us directly. If you’re a company we are covering and wish to no longer feature on our coverage list contact us via email and/or phone between 09:30 EDT to 16:00 EDT from Monday to Friday at:

Email: info@activewallst.com
Phone number: 1-858-257-3144

Office Address: 3rd floor, 207 Regent Street, London, W1B 3HH, United Kingdom

CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.

SOURCE: Active Wall Street

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Upcoming AWS Coverage on Leidos Holdings Post-Earnings Results

LONDON, UK / ACCESSWIRE / May 30, 2017 / Active Wall St. announces its post-earnings coverage on Broadridge Financial Solutions, Inc. (NYSE: BR). The Company released its financial results for the third quarter fiscal 2017 (Q3 FY17) on May 10, 2017. The Lake Success, New York-based Company’s total revenues and adjusted diluted EPS rose 46% and 19% y-o-y, respectively, beating market consensus estimates. Register with us now for your free membership at: http://www.activewallst.com/register/.

One of Broadridge Financial Solutions’ competitors within the Information & Delivery Services space, Leidos Holdings, Inc. (NYSE: LDOS), reported on May 04, 2017, financial results for the Q1 FY17. AWS will be initiating a research report on Leidos Holdings in the coming days.

Today, AWS is promoting its earnings coverage on BR; touching on LDOS. Get our free coverage by signing up to:
http://www.activewallst.com/register/.

Earnings Reviewed

During the quarter ended on March 31, 2017, Broadridge Financial reported total revenues of $1.01 billion compared to $688.8 million recorded at the end of Q3 FY16. Total revenues numbers for Q3 FY17 topped market consensus estimates of $994 million. The surge in quarterly revenues is primarily attributed to acquisition of North American Customer Communications (NACC) acquired from DST Systems Inc. (NYSE: DST), which contributed a $283.1 million in the Company’s total revenues. Furthermore, recurring revenues for Q3 FY17 was $592 million, rising 30% from $455 million in Q3 FY16.

The technology outsourcing Company reported GAAP net earnings of $75.9 million, or $0.63 per diluted share, in Q3 FY17 compared to net income attributable to stockholders of $63.7 million, or $0.52 per diluted share, in Q3 FY16. The Company’s adjusted net earnings increased to $83.3 million, or $0.69 per diluted share, in Q3 FY17 from $70.0 million, or $0.58 per diluted share, in Q3 FY16. Wall Street had expected the Company to report adjusted net earnings of $0.59 per diluted share.

Operational Metrics

In the reported quarter, Broadridge Financial spent $899.2 million as operating expenses compared to $588.2 million in Q3 FY16. The Company’s GAAP operating income for Q3 FY17 stood at $109.7 million, or 10.9% of total revenues, compared to $100.6 million, or 14.6% of total revenues in Q3 FY16. Additionally, the Company reported adjusted operating income of $133.6 million, or 13.2% of total revenues in Q3 FY17 versus $109.8 million, or 15.9% of total revenues, in the last year’s comparable quarter.

Segment-Wise

Broadridge Financial’s Investor Communication Solutions (ICS) segment reported revenues of $826.4 million in Q3 FY17, surging 60% from $515.4 million in Q3 FY16. The segment’s recurring fee revenues also rose $126 million, or 48% y-o-y, to $389 million in Q3 FY17. Furthermore, the segment’s earnings before income taxes came in at $73.9 million in Q3 FY17, up 10% from $67.1 million in the previous year’s corresponding quarter.

Global Technology and Operations (GTO) segment’s revenues grew 6% to $202.7 million in Q3 FY17 from $191.3 million in the last year’s comparable quarter. Moreover, the segment reported earnings before income taxes of $44.3 million in Q3 FY17, rising 10% from $40.2 million in the prior year’s same quarter.

Cash Flow & Balance Sheet

During the three quarters ended March 31, 2017, the Company generated $162.1 million as net cash from its operating activities compared to $161.1 million in the prior year’s comparable period. Furthermore, the Company’s reported non-GAAP free cash flow of $92.6 million in nine months ended March 31, 2017, compared to $105.0 million in the last year’s same period.

At the close of books on March 31, 2017, Broadridge Financial had $269.5 million in cash and cash equivalents compared to $727.7 million at the close of books on June 30, 2016. The Company’s long-term debt increased to $1.14 billion as on March 31, 2017, from $890.7 million as on June 30, 2016.

Outlook

The Company reaffirmed earnings guidance for full year FY17. Broadridge Financials management expects recurring fee revenue growth in the range of 29% to 31% with total revenue growth range of 40% to 42%. Adjusted operating margin for FY17 is forecasted to be 15% approximately. For FY17, adjusted diluted EPS is anticipated to grow between 12% and 17%. Additionally, free cash flow for full year FY17 is projected to be in the range of $350 million and $400 million.

Stock Performance

Broadridge Financial Solutions’ share price finished last Friday’s trading session at $75.16, marginally sliding 0.82%. A total volume of 424.24 thousand shares exchanged hands. The stock has surged 14.05% and 16.56% in the last six months and past twelve months, respectively. Furthermore, since the start of the year, shares of the Company have gained 13.36%. The stock is trading at a PE ratio of 29.36 and has a dividend yield of 1.76%.

Active Wall Street:

Active Wall Street (AWS) produces regular sponsored and non-sponsored reports, articles, stock market blogs, and popular investment newsletters covering equities listed on NYSE and NASDAQ and micro-cap stocks. AWS has two distinct and independent departments. One department produces non-sponsored analyst certified content generally in the form of press releases, articles and reports covering equities listed on NYSE and NASDAQ and the other produces sponsored content (in most cases not reviewed by a registered analyst), which typically consists of compensated investment newsletters, articles and reports covering listed stocks and micro-caps. Such sponsored content is outside the scope of procedures detailed below.

AWS has not been compensated; directly or indirectly; for producing or publishing this document.

PRESS RELEASE PROCEDURES:

The non-sponsored content contained herein has been prepared by a writer (the “Author”) and is fact checked and reviewed by a third party research service company (the “Reviewer”) represented by a credentialed financial analyst, for further information on analyst credentials, please email info@activewallst.com. Rohit Tuli, a CFA® charterholder (the “Sponsor”), provides necessary guidance in preparing the document templates. The Reviewer has reviewed and revised the content, as necessary, based on publicly available information which is believed to be reliable. Content is researched, written and reviewed on a reasonable-effort basis. The Reviewer has not performed any independent investigations or forensic audits to validate the information herein. The Reviewer has only independently reviewed the information provided by the Author according to the procedures outlined by AWS. AWS is not entitled to veto or interfere in the application of such procedures by the third-party research service company to the articles, documents or reports, as the case may be. Unless otherwise noted, any content outside of this document has no association with the Author or the Reviewer in any way.

NO WARRANTY

AWS, the Author, and the Reviewer are not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted whatsoever for any direct, indirect or consequential loss arising from the use of this document. AWS, the Author, and the Reviewer expressly disclaim any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Additionally, AWS, the Author, and the Reviewer do not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.

NOT AN OFFERING

This document is not intended as an offering, recommendation, or a solicitation of an offer to buy or sell the securities mentioned or discussed, and is to be used for informational purposes only. Please read all associated disclosures and disclaimers in full before investing. Neither AWS nor any party affiliated with us is a registered investment adviser or broker-dealer with any agency or in any jurisdiction whatsoever. To download our report(s), read our disclosures, or for more information, visit http://www.activewallst.com/disclaimer/.

CONTACT

For any questions, inquiries, or comments reach out to us directly. If you’re a company we are covering and wish to no longer feature on our coverage list contact us via email and/or phone between 09:30 EDT to 16:00 EDT from Monday to Friday at:

Email: info@activewallst.com
Phone number: 1-858-257-3144

Office Address: 3rd floor, 207 Regent Street, London, W1B 3HH, United Kingdom

CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.

SOURCE: Active Wall Street

ReleaseID: 464424