Company Overview and News
In a July 2 article, "Screening Closed End Funds," I shared my strategy for adding up to 5 closed end funds to the portfolio. Seven CEFs were identified for my watchlist, including:
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Wednesday was a very positive day for the broad U.S. markets. Both the S&P 500 and Nasdaq are holding just under their all-time highs. Crude oil made another decent gain in the session. The S&P 500 sectors were entirely positive. The most positive sectors were industrials, technology and health care up 1.2%, 1.0% and 1.0%, respectively. The “worst” performing sector was utilities up 0.1%.
Greetings and welcome to the FLIR Systems Second Quarter 2018 Conference Call. At this time, all participants are in a listen-only mode. A question-and-answer session will follow with formal presentation. [Operator Instructions] As a reminder, this conference is being recorded.
In the past week, key airline players like JetBlue Airways Corp. (JBLU - Free Report) and Hawaiian Holdings, Inc. (HA - Free Report) unveiled their respective quarterly numbers. Although both the companies reported better-than-expected earnings per share, the metric contracted on a year-over-year basis mainly due to high fuel costs. Both the US-based carriers reported lower-than-expected revenues as well.
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We expect Transocean Ltd. (RIG - Free Report) to beat expectations when it reports second-quarter 2018 results on Monday, Jul 30, after the market closes. The current Zacks Consensus Estimate for the quarter under review is a loss of 17 cents on revenues of $755.2 million.
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Fresh news about Russia’s link to Cambridge Analytica, Facebook (FB - Free Report) CEO Mark Zuckerberg’s comments on Holocaust denial in Germany, WhatsApp’s role in misinformation-based killings in India, the promise of a proactive approach to kids’ safety and a new social network called Opnebook were the top stories from last week. Here are the details-
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NextEra Energy, Inc. (NEE - Free Report) reported second-quarter 2018 adjusted earnings of $2.11 per share, beating the Zacks Consensus Estimate of $2.07 by 1.93%. Earnings were up 13.4% year over year. The year-over-year earnings growth was led by solid contribution from both Florida Power & Light Company and NextEra Energy Resources segments. The enhanced growth was primarily due to new investments made at both the segments.
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United Parcel Service, Inc. (UPS - Free Report) reported second-quarter 2018 earnings (excluding 23 cents from non-recurring items) of $1.94 per share, surpassing the Zacks Consensus Estimate of $1.92. Earnings increased 22.8% on a year-over-year basis. Results were aided by higher revenues.
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Valmont Industries, Inc. (VMI - Free Report) reported profits of roughly $32.9 million or $1.46 per share in second-quarter 2018, down 27.8% from net earnings of around $45.7 million or $2.01 a year ago. Adjusted earnings in the quarter were $1.98 per share, exceeding the Zacks Consensus Estimate of $1.94. Net sales in the quarter totaled $682.4 million, down 4.3% year over year. The figure lagged the Zacks Consensus Estimate of $710 million.
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Freeport-McMoRan Inc. (FCX - Free Report) reported net income (attributable to common stock) of 59 cents per share in second-quarter 2018, up from 18 cents in the year-ago quarter. Barring one-time items, adjusted earnings came in at 58 cents a share in the quarter, topping the Zacks Consensus Estimate of 54 cents. Revenues went up around 39.3% year over year to $5,168 million. Also, the figure surpassed the Zacks Consensus Estimate of $4,821.
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FLIR Systems Inc.’s (FLIR - Free Report) second-quarter 2018 adjusted earnings per share came in at 55 cents, surpassing the Zacks Consensus Estimate of 49 cents by 12.2%. The reported figure also surged 31% from the prior-year quarterly tally of 42 cents owing to solid top-line growth. Excluding the one-time items, the company reported GAAP earnings of 51 cents compared to 37 cents in the year-ago quarter.
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The following slide deck was published by FLIR Systems, Inc. in conjunction with their 2018 Q2 earnings call.
Incorporated in 1978, FLIR Systems, Inc. (FLIR - Free Report) is an Oregon-based corporation, which specializes in designing, manufacturing and marketing of thermal imaging systems. Its products are used in a wide variety of applications in commercial, industrial and government markets, both international and domestic. The company offers a variety of system configurations to suit specific customer requirements.
UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549
14h - Asif
Business overview Rennova Health, Inc. (together with its subsidiaries, “Rennova”, “we” or the “Company”) is a provider of an expanding group of health care services for healthcare providers, patients and individuals. Beginning in 2018, the Company intends to focus on and operate two synergistic divisions: 1) Clinical diagnostics through its clinical laboratories; and 2) Hospital operations through its Big South Fork Medical Center, which opened on August 8, 2017, and a hospital in Jamestown Tennessee, including a doctor’s practice, the assets of which the company expect to acquire in the second quarter of 2018, pursuant to the terms of a definitive asset purchase agreement that the company entered into on January 31, 2018, as more fully discussed below. The company believe that its approach will produce a more sustainable business model and the capture of multiple revenue streams from medical providers, patients and hospital services. Management determined that because Big So...
2018-08-13 - Asif
Core Business At Ballard, Ballard Power Systems is building a clean energy growth company. Ballard Power Systems is recognized as a world leader in proton exchange membrane (“PEM”) fuel cell power system development and commercialization. The company's principal business is the design, development, manufacture, sale and service of PEM fuel cell products for a variety of applications, focusing on its power product markets of Heavy-Duty Motive (consisting of bus, truck, rail and marine applications), Portable Power, Material Handling and Backup Power, as well as the delivery of Technology Solutions, including engineering services, technology transfer, and the license and sale of its extensive intellectual property portfolio and fundamental knowledge for a variety of fuel cell applications. A fuel cell is an environmentally clean electrochemical device that combines hydrogen fuel with oxygen (from the air) to produce electricity. The hydrogen fuel can be obtained from natural g...
2018-08-13 - Asif
Overview Marathon Patent Group was incorporated in the State of Nevada on February 23, 2010 under the name Verve Ventures, Inc. On December 7, 2011, the company changed its name to American Strategic Minerals Corporation and were engaged in exploration and potential development of uranium and vanadium minerals business. In June 2012, the company discontinued its minerals business and began to invest in real estate properties in Southern California. In October 2012, the company discontinued its real estate business when its former CEO joined the firm and the company commenced its IP licensing operations, at which time the Company’s name was changed to Marathon Patent Group, Inc. On November 1, 2017, the company entered into a merger agreement with Global Bit Ventures, Inc. (“GBV”), which is focused on mining digital assets. Marathon Patent Group has since purchased its cryptocurrency mining machines and established a data center in Canada to mine digital assets. Following the me...
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