World – Tech2.Org Largest Nonprofit Digital Media. We work to Give a Voice to the powerless, to help Public & to Illuminate their lives. Fri, 16 Aug 2019 17:41:31 +0000 en-US hourly 1 Wall Street boosted by stimulus hopes By Reuters Fri, 16 Aug 2019 17:41:31 +0000

© Reuters. Traders work on the floor at the New York Stock Exchange (NYSE) in New York

By Medha Singh and Arjun Panchadar

(Reuters) – Wall Street’s three main indexes rose more than 1% on Friday, clawing back some losses from a brutal selloff this week on hopes of more stimulus from central banks to perk up slowing growth.

Stocks got a boost after a report that Germany’s government would be prepared to ditch its balanced budget rule and take on new debt to counter a possible recession.

“Germany is now telling us that we are going to have to move forward and spend at a deficit in an effort to keep our economy and the broader economy afloat,” said Yousef Abbasi, global market strategist at INTL FCStone Financial Inc in New York.

Earlier, China’s state planner said it would roll out a plan to boost disposable income this year and in 2020 to spur consumption as the economy slows.

Traders are betting on a one-in-five chance of a 50 basis point interest rate cut from the Federal Reserve, while expecting aggressive easing from the European Central Bank at its policy meetings in September.

However, the three main indexes are still set to record their third consecutive week of losses as investors worry about the risk of recession and U.S.-China trade tensions.

At 12:36 p.m. ET, the Dow Jones Industrial Average () was up 277.57 points, or 1.09%, at 25,856.96, the S&P 500 () was up 39.18 points, or 1.38%, at 2,886.78. The Nasdaq Composite () was up 124.74 points, or 1.61%, at 7,891.35.

All of the 11 major S&P sectors were higher, with technology stocks () providing the biggest boost.

Sectors seen as bond proxies due to their high dividend yields – real estate <.splrcr>, utilities () and consumer staples () – posted smallest gains.

Among stocks, Nvidia Corp (O:) jumped 5.9% after posting better-than-expected quarterly profit and revenue, lifting the Philadelphia chip index () 2.41%.

However, Applied Materials Inc (O:) fell 1.7% after the chip gear maker cautioned that recovery in the memory chip market is unlikely before 2020.

The S&P 500 bank sub-sector <.spxbk> rose 2.61% as rate-sensitive lenders benefited from U.S. Treasury bond yields easing off their lows. [US/]

General Electric Co (N:) jumped 9.1% as Chief Executive Officer Larry Culp bought nearly $2 million worth of company shares, which had recorded their biggest one-day percentage fall in 11 years on Thursday.

Advancing issues outnumbered decliners by a 3.68-to-1 ratio on the NYSE and by a 3.72-to-1 ratio on the Nasdaq.

The S&P index recorded 29 new 52-week highs and seven new lows, while the Nasdaq recorded 31 new highs and 81 new lows.

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Xerox bringing 600 jobs to Cary Tue, 13 Aug 2019 17:41:35 +0000

RALEIGH – Copier giant Xerox (NYSE: XRX) plans to open a "Center of Excellence" in Cary, creating 600 jobs, officials announced Tuesday.

The $ 18.4 million operation will focus on “accelerating innovation” and digital efforts, Xerox Chief Technology Officer Naresh Shanker said during a news conference at the State Capitol.

“This is essential for our long-term growth,” Shanker said, noting that the Cary facility will be Xerox’s fourth Center of Excellence, joining operations in Palo Alto, Calif., Webster, N.Y., and Toronto.

The jobs will have an average annual salary of more than $ 112,000.

"These things don't just happen," Gov. Roy Cooper said during the news conference. “A company like Xerox looks at a lot of places.”

Cooper noted the state and local efforts to improve workforce training and Wake County’s quality of life as key drivers in bringing Xerox to Cary.

Wake Technical Community College is already in discussions with the company about customized training, he said.

Incentives also played a role in Xerox’s decision, as the state Economic Investment Committee approved a Job Development Investment Grant of up to $ 12.3 million over 12 years for the company.

JDIGs rebate a portion of employee state withholding taxes to a company that meets annual investment and hiring targets.

There was no immediate word on any incentives offered by Cary or Wake County.

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Tesla Model 3 Owner Drives 15,000 Miles For $630 Tue, 13 Aug 2019 07:07:07 +0000


Published in August 12, 2019 |
by Kyle Field

August 12, 2019 by Kyle field

The owner of a long-range Tesla Model 3 and rear-wheel drive recently traveled to Reddit to unpack the actual cost of the cargo in his domestic loader and in every Supercharger visited in more than 13 months of ownership. Kindly shared the data of each session in a single Google spreadsheet that has all the fun details, for the curious data. Thanks to its eMotorwerks / EnelX JuiceBox 40, it was able to extract data from each loading session that puts everything to scale.

Tesla supercharging station in Redondo Beach, California. Image credit: Kyle Field | CleanTechnica

From the beginning, he shared that he spent an average of $ 47.90 per month to load at home and at several Tesla Supercharging stations. That is a savings of $ 100 compared to what I was paying for gasoline every month, and a testament to the central efficiency of Model 3 and electric vehicles in general, compared to their combustion vehicle counterparts.

Being a little nerd of data (I'm pretty sure Excel spreadsheets are my love language), I immersed myself in the data and came back with some nuggets of information.

A Tesla loading at home. Image credit: Tesla

  • 8.6% of the load was made in Tesla Superchargers.
  • 15.2% of the cost of the charge went to Tesla for its Superchargers, and that is with three of the sessions that are free because Tesla enabled the free Supercharge in response to flooding in the area.
  • The house was charged at a base rate of $ .07 / kWh, or $ .11 / kWh, including fees, taxes, etc.
  • The cost of running the new power line for the domestic charger ($ 700) was almost equal to the cost of the entire load in the first year ($ 622.73).
  • 5,194.67 kWh were pumped into Model 3, allowing 15,123 miles for an efficiency of 2.91 mi / kWh or 343.5 watt-hours per mile. It clearly has a foot advantage, as EPA rates the LR RWD Model 3 at 3.84 miles per kWh.
  • Total annual maintenance cost of $ 9.50 for windshield washer fluid.

The data provides an excellent view of the actual cost to operate and charge an electric vehicle. This is a real case of a real owner who is only living life, charging as necessary.

The actual energy required for a Model 3 or any other EV will depend on where you live, how you drive, the use of air conditioning and the like, but this single-owner snapshot offers a good view of what you can expect for many new owners. .

Grayson loading a Tesla Model 3 in a 72kW urban Supercharger at Tesla & # 39; s Thousand Oaks station, California. Image credit: Kyle Field | CleanTechnica

On the savings side of the equation, this owner paid about $ 100 more per month for gas than he now pays for electricity. It is an impressive saving of 68%, from $ 148 / month spent on the gasoline engine to just under $ 50 to keep the Model 3 charged.

Source: Reddit

Tags: reddit, Tesla, Tesla Model 3, costs of Tesla Model 3, Tesla Model 3 TCO, Tesla Model 3 total cost of ownership, Tesla Supercharging

About the Author

Kyle Field I am a passionate technology geek looking for actionable ways to reduce the negative impact my life has on the planet, save money and reduce stress. Live intentionally, make conscious decisions, love more, act responsibly, play. The more you know, the less you need. TSLA inverter.

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Chase Bank erases all credit card debt for Canadian customers Sun, 11 Aug 2019 17:41:59 +0000

American-based Chase Bank is giving its customers above the border one last gift before it bows out of the Canadian credit card market.

Signage is displayed outside a JPMorgan Chase & amp; Co. bank branch in New York. The bank has decided to

Signage is displayed outside a JPMorgan Chase & amp; Co. bank branch in New York. The bank has decided to "forgive" all outstanding balances for Canadians who use their two credit cards following an exit from the market. Victor J. Blue / Bloomberg via Getty Images

Chase Bank, which is part of JPMorgan Chase & Co., closed all their credit card accounts in March 2018 and customers were expected to continue to pay their debt.

That changed on Friday when the company decided to forgive all outstanding balances on either of its two VISA cards as part of their exit following 13 years in the Canadian credit card market, according to the CBC.


"Chase made the decision to exit the Canadian credit card market," said Maria Martinez, vice president of communications for Chase Card Services. "As part of that exit, all credit card accounts were closed on or before March 2018. A further business decision has been made to forgive all outstanding balances in order to complete the exit."

The reactions from customers throughout Canada range from shock, disbelief to joy as people who owed thousands on their credit cards had all that debt wiped away in an instant.

"I was sort of over the moon all last night, with a smile on my face," Douglas Turner of Ontario, who owed more than $ 4,500 on his card, told the CBC. "I couldn't believe it."

Canadian Paul Adamson, 43, whose debt was also erased, told the CBC he originally thought he missed a payment after hearing his account was closed.


"I'm honestly still flabbergasted about it," he said. "It's [usually] surprise fees, extra complications, things like that, definitely, but not loan forgiveness. "

When asked why Chase decided to forgive rather than try and recoup owed money, Martinez said that the company, “felt it was a better decision for all parties, particularly our customers, to forgive the debt."

The company wouldn't elaborate on how much debt was outstanding or how many customers had signed up for their cards.


“Everyone I've talked to is really keen on this good-news credit card story,” Adamson added. “Those aren’t words that usually go together.”

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Major power failure affecting homes and transport Fri, 09 Aug 2019 17:41:30 +0000

Thameslink delays.Image Copyright
James marlow

Major failures in electricity supply have been reported in large areas of the United Kingdom, which affect homes and transport networks.

Blackouts have been reported throughout the Southeast, Midlands, Southwest, Northeast and Wales.

UK Power Networks said the problem was caused by a "failure in the National Grid network."

Trains have been delayed and canceled in England and Wales, while the fall in power is affecting traffic lights in London.

Passengers at Newcastle airport said the power supply was cut for about 15 minutes, but Heathrow, Gatwick and Luton airports said they had not been affected.

Scott McKenzie, 31, of Cardiff, said "several alarms were ringing" at Newcastle airport.

"We were literally mired in the dark and people used their phones as torches to see and move," he added.

UK Power Networks said: "We are aware of a power outage that affects large parts of London and the southeast."

Western Power Distribution said it was working on the issue and expects power to be restored before 18:30 BST.

Network Rail said all trains had stopped after a "power boost in the national network," but their signaling system had returned to operation.

Passengers were warned to wait for delays.

Thameslink said most of his trains were currently standing between London and Bedford.

With many people trying to make trips at the peak of Friday's rush hour, the British Transportation Police said they had sent officers to "several" train stations to assist travelers.

A spokeswoman for Transport for London said some traffic lights in the capital "did not work," but the magnitude of the problem was not yet known.

Ipswich Hospital said it was being affected by the power outage in that area, since its backup generator had not worked.

A hospital spokeswoman said the staff was working "completely" to keep patients safe.

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Dow falls 200 points on a scary sign from the bond market Wed, 07 Aug 2019 17:41:35 +0000

Rabobank economists are projecting a superficial global recession because the trade war is hurting financial markets, consumer confidence and the global economy. Rabobank reduced its global growth projections below 3% on Wednesday.

The yield on US government bonds. UU. At 10 years it fell close to a minimum of three years of 1.6651%. Bonds and returns move in opposite directions.

Gold was also a big winner on Wednesday. Gold futures crossed the threshold of $ 1,500 per ounce for the first time since 2013. Gold rose 2.1% and rose almost 18% this year.

the Dow (INDU) fell to 589 points before reducing its losses. The index traded 200 points, or 0.8%, lower around noon. the S&P 500 (SPX) fell 0.6%, and the Nasdaq compound (COMP) fell 0.4%.
Monday was the worst day of the year for the shares, but the three share benchmarks broke a losing streak of several days on Tuesday.

Problems in the bond market

The rate cuts of global central banks are also helping to boost bond purchases. During the night, both the Reserve Bank of New Zealand and the Reserve Bank of India achieved more pronounced rate cuts than expected.

The Federal Reserve of the United States reduced rates last month for the first time in a decade. That helped precipitate the decline in long-term bond yields, although the returns had been going down for some time.

"While we can be sure that global central banks will step forward to alleviate the impact of the trade war, which probably implies even lower interest rates in all areas, the final impact is likely to be negative both for growth as for inflation, "said Rabobank economists.

That is a worrying signal: the yield curve, which traces interest rates through debt maturities, is currently reversed. Short-term debt is paying higher rates than long-term bonds, as investors remain fearful of a recession in the United States. An inversion of the yield curve has preceded each recession.

Yields could continue to fall if President Donald Trump gets his way. Trump lashed out at the Federal Reserve on Twitter, saying that the central bank was "too proud to admit its mistake of acting too fast and tightening too much." Trump called for "bigger and faster" rate cuts and said the performance curve "is too wide."

The performance curve, however, has flattened in recent years, and has even invested more since 2007.

Other Federal Reserve rate cuts could even boost the price of gold to more than $ 1,650, said Edward Moya, senior market analyst at Oanda, in a note.

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Goldman-Backed Apple Card Restricts Cryptocurrency Purchases Sun, 04 Aug 2019 17:42:06 +0000

Cryptocurrencies cannot be purchased with the new Apple credit card according to the American multinational technology company’s recently published customer agreement guidelines. The Apple card’s restrictions indicate that the company’s partner, Goldman Sachs, is leery toward cryptocurrencies and other “cash equivalents” like lottery tickets and casino chips.

Also Read: Banks Stopped Walmart Bank – Now the Retail Giant Hits Back With Crypto

No Crypto Purchases With the Goldman Sachs Backed Apple Card

The technology giant Apple (AAPL) recently announced the launch of a credit card, which allows people to spend credit with an annual percentage rate (APR) between 13-24%. The California-based firm revealed the card will be released at some point this month, according to the firm’s third fiscal quarter earnings call. Some of the biggest selling points for the new Apple Mastercard include: virtual use, no annual fees, and no fees for transactions and penalties. Another interesting aspect is that the card will not feature the traditional Mastercard 16-digit number or CVV code. “Thousands of Apple employees are using the Apple Card every day in a beta test and we will begin to roll out the Apple Card in August,” Apple CEO Tim Cook revealed during the earnings call on July 30. Following Cook's statements, the Apple card's terms of service (ToS) were published via the Goldman Sachs' website this week.

Goldman-Backed Apple Card Restricts Cryptocurrency Purchases

Two of the biggest issues that stand out for people who have read the customer agreement include the restrictions against jailbreaking an iPhone and restricting “cash equivalents” like cryptocurrencies. This is first addressed in the user agreement’s first section called “Important Definitions,” which essentially defines the terms used within the agreement. “Adva Cash Advance and Cash Equivalents’ means any cash advance and other cash-like transactions, including purchases of cash equivalents such as travelers checks, foreign currency, or cryptocurrency; money orders; peer to peer transfers, wire transfers or similar cash-like transactions; lottery tickets, casino gaming chips (whether physical or digital), or race track wagers or similar betting transactions, ”explains the Apple card ToS.

Goldman-Backed Apple Card Restricts Cryptocurrency Purchases
The Apple card comes in both virtual and physical form with no 16-digit number or CVV code.

Being against “cash equivalents” is not all that different than most traditional credit ToS agreements, and banning things like lottery purchases is standard procedure for credit cards. Some skeptics believe it’s not that Apple wants to police what you can purchase, but that the blame likely falls on Goldman Sachs. Crypto purchases using credit cards already experienced pushback from banks and regulators after it was revealed that lots of people were using charge cards to purchase bitcoin and other digital assets during the last bull run. By the end of 2017 it was revealed that Capital One, Chase, Bank of America, Lloyds Banking Group, Discover, Virgin Money, and TD Bank Canada had all banned digital currency purchases. According to Capital One, the bank sees digital assets may lead to high risks of fraud and severe losses. “Capital One continues to closely monitor developments in cryptocurrency markets and exchanges,” the bank said back in 2018. “And [Capital One] will regularly evaluate the decision as cryptocurrency markets evolve, ”the bank explained.

Goldman-Backed Apple Card Restricts Cryptocurrency Purchases
Beside restricting cryptocurrency purchases and cash equivalents, Apple card users cannot modify or “jailbreak” their iPhones.

Apple’s Long History of Cryptocurrency Restrictions

Despite Goldman Sachs involvement with Apple this time, the corporation had already had a long history with certain cryptocurrency restrictions. For instance, in February 2014, Apple had removed all the bitcoin wallets from the App Store including’s Wallet, Coinbase, and Coinjar. After the wallet ban, wrote a blog post which denounced Apple’s choice to remove the wallet application. “These actions by Apple once again demonstrate the anti-competitive and capricious nature of the App Store policies that are clearly focused on preserving Apple's monopoly on payments rather than based on any consideration of the needs and desires of their users,”'s scathing criticize stated. "[Blockchain wallet] had no customer complaints and a broad user base. The only thing that has changed is that bitcoin has become competitive to Apple’s own payment system. By removing the Blockchain app, the only bitcoin wallet application on the App Store, Apple has eliminated competition using their monopolistic position in the market in a heavy-handed manner. ”

Goldman-Backed Apple Card Restricts Cryptocurrency Purchases
Apple banned bitcoin-related apps in the App Store in 2014 but let them back in later. In February 2018, Apple finally defined its app rules for digital currency platforms which restrict ICO and mining apps. Did you know the noncustodial Wallet is one of the most popular wallet apps on the App Store? Download it here. Android users can download our BCH and BTC wallet here.

A few months later, after the Bitcoin community got riled up and some enthusiasts even filmed Youtube videos of themselves blowing up iPhones in protest, Apple silently let crypto wallet apps back into the App Store. However, in September of 2016, Apple started banning certain types of digital currency wallets that supported coins like dash and ethereum. The creator of the Jaxx multi-cryptocurrency wallet and CEO, Anthony Di Iorio, received word from Apple at the time that his startup was required to remove support for dash. Apple again had a change of heart later, and quietly allowed wallet developers to add a variety of digital assets. On June 8, 2018, Apple finally defined its cryptocurrency rules for the App Store and gave people better clarity on what kind of crypto apps would be allowed.

“Wallet apps may facilitate virtual currency storage, provided they are offered by developers enrolled as an organization,” explained Apple’s revised App Store rules. “Exchange apps may facilitate transactions or transmissions of cryptocurrency on an approved exchange, provided they are offered by the exchange itself.”

Apple did restrict initial coin offering applications, and mobile platforms that provided crypto mining applications using an iPhone’s chipset were strictly prohibited. Any ICO application would have to be established by: “banks, securities firms, futures commission merchants (“ FCM ”), or other approved financial institutions.”

Apple Can Decline Transactions for Any Reason and Jailbreaking a Smartphone Could Cause Service Disruptions

As far as the Apple card is concerned, if the company or partner bank (Goldman Sachs) finds out that an individual has attempted to purchase digital currencies, the card could be shut off indefinitely. Apple may decline transactions “for any reason” and the company will advise the digital currency sales associates why the transaction was declined at the time of rejection. In addition to the cryptocurrency purchasing restrictions, the Apple user agreement highlights that if a user decides to modify, root or “jailbreak” their mobile device, Apple will disconnect the credit card from the device as it constitutes a violation of the customer agreement.

What do you think about Apple and Goldman Sachs restricting cryptocurrency purchases on the new Apple card? Let us know what you think about this subject in the comments section below.

Image Credits: Shutterstock, Pixabay, Apple card, Apple Inc., Goldman Sachs & Apple card ToS.

You can now Bitcoin purchase without visiting a cryptocurrency exchange. Buy BTC and BCH directly from our trusted seller and, if you need a Bitcoin wallet to securely store it, you can download one from us here.

Tags in this story

aapl, App Store, Apple, Apple Card, Apple Inc, Apps, Bank of America, Banning Blockchain Wallet, Bitcoin, bitcoin cash, capital one, Cash Advance, Cash Equivalents, Casino Chips, Chase, Cryptocurrency, dash, Developers, Digital Currencies , discover, Ethereum, Goldman Sachs, Jailbreak, Jaxx wallet, Lloyds Banking Group, Lottery Tickets, Physical Card, Restricting Certain Cryptos, TD Bank Canada, Virgin Money, Virtual Card, Wallet Ban

Jamie Redman

Jamie Redman is a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open source code, and decentralized applications. Redman has written thousands of articles for news. about the disruptive protocols emerging today.

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Tesla owner discovers problem with ‘Dog Mode’ air conditioning feature Thu, 01 Aug 2019 17:42:12 +0000

Elon Musk says Tesla is “fixing” a problem with its “Dog Mode” feature, which keeps pups cool while owners step away from the company’s cars, after a Twitter user discovered a way to inadvertently turn the feature off.

Rahul Sood tweeted late Wednesday that he had turned Dog Mode on, tweaked the fan settings, and then left his seven-month-old Boxer pup in his Tesla Model X. When he later opened his Tesla app, though, I've discovered – to his “horror,” he wrote – that the car's interior temperature had jumped to 85 degrees because Dog Mode had turned off. I've returned to the car to find his dog was okay, and then tweeted about the incident to both Musk and Tesla, and the CEO (who often solicits suggestions on Twitter) quickly responded: "Fixing …"

Dog Mode was rolled out in February as an extension of Tesla’s “Cabin Overheat Protection” mode, which automatically cooled the cabin if it reached high temperatures in order to keep “babies or pets” safe, according to Musk. Dog Mode is a more proactive setting that the owner can choose. It automatically keeps the interior temperature cool and puts a message on the car’s touchscreen to tell passersby that the dogs are okay, and that their “owner will be back soon.”

Dog Mode is activated through the fan settings on Tesla’s touchscreens. Sood tells The verge that the problem arose because, after activating Dog Mode, he then manually adjusted the fan setting to try to keep the car even cooler, since Seattle (where the incident took place) is in the middle of a heat wave. He said he kept monitoring his car through Tesla’s smartphone app, and says Dog Mode remained on at first.

But after about 10 minutes, I've noticed the temperature had jumped, because “basically the AC stops working in Dog Mode if you adjust the fan,” he writes. “Probably an easy fix but if I wasn’t watching him it would have been horrible.”

Tesla is often lauded for adding new abilities to its cars with over-the-air software updates, from new driver assistance modes to video games and convenience features like Dog Mode. (And for what it’s worth, Sood says “the fact that the CEO responded as quickly as he did is pretty awesome.”) Not all of these rollouts go smoothly, like when Tesla had to pull the classic Atari game Pole position from its cars because it hadn’t properly secured the rights. But the company is typically more careful with features that can put lives in danger, like how it recently delayed the release of an automatic parking mode called "Enhanced Summon."

Tesla did not respond to a request for comment. It’s not clear when the company will roll out the fix Musk referred to.

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Farewell DirecTV Now, hello AT&T TV Now Tue, 30 Jul 2019 17:41:38 +0000

The AT&T TV application will be available sometime in the "coming weeks", and existing customers will see the change take effect automatically through software updates. More details will come when the launch begins in earnest, AT&T said.

This saves you the trouble of downloading another application, and is more consistent with the AT&T strategy. DirecTV Now does not have much to do with satellite television, so why pretend otherwise? However, the added simplicity does not necessarily translate into clarity. Two services in one application can be confusing depending on the execution.

One thing is for sure: this decreases the power of the DirecTV brand. While there is no evidence that the main DirecTV service will disappear, you will not see the name if you are only interested in the broadcast. That could be significant in an era in which AT&T is rapidly bleeding up conventional TV customers (lost only 778,000 in the second quarter) and will increasingly depend on Internet video as a cornerstone of their business.

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What to Expect from Beyond Meat’s Q2 Earnings Today Mon, 29 Jul 2019 15:32:05 +0000

Analyst Expectations

Beyond Meat (BYND) plans to report its second quarter earnings today after the markets close. For the quarter, analysts expect the company's revenue to increase more than 200%. However, analysts believe the company will incur a net loss during the quarter.

What to expect from the second quarter earnings of Beyond Meat today

Beyond Meat's revenue growth

For the second quarter, analysts expect Beyond Meat to report revenues of $ 50.7 million, an increase of 203.5% of $ 17.4 million in the corresponding quarter of 2018. Growth is projected for both the retail and restaurant segments. Food services will boost the company's revenue. The increase in the number of retail distribution points and food services, the increase in demand from existing customers and the introduction of Beyond Burger in grocery stores in the US. UU. They could boost the company's revenues. However, the company suspended its frozen chicken strip product line in the first quarter of 2019. The company's decision to suspend the frozen chicken strip product line could offset part of BYND's revenue growth.

BYND will report a net loss

Analysts predict that Beyond Meat's net loss will decrease in the second quarter. For the quarter, the company's net loss is projected to be $ 4.5 million or a loss of $ 0.09 per share. In comparison, the company's net loss was $ 7.4 million in the corresponding quarter of 2018.

What to expect from the second quarter earnings of Beyond Meat today

Stock performance

Since its IPO on May 2, Beyond Meat shares have been in a golden streak. The company had set its IPO at $ 25. As of July 26, the company was trading at $ 239.40, an increase of 839.6% of its IPO. The impressive performance of the first quarter, the healthy outlook, the development of new products and the new partnerships have led to an increase in the company's share price.

On July 24, Dunkin brands presented the Beyond Sausage breakfast sandwich with the Beyond Meat sausage pie made with 100% plant-based ingredients. Previously, on June 12, Tim Hortons of Restaurants Brand International (QSR) had presented Beyond Meat Breakfast Sandwiches at 4,000 of its restaurants in Canada. In addition, the company launched a new Beyond Beef product in the last week of June, which was designed to replicate traditional ground beef.

Multiple valuation and analyst recommendations

We have considered the multiple EV-to-sales for the analysis. As of July 26, the company was trading at a multiple of EV at sales of 48.9x. In comparison, their peers, Tyson Foods, Conagra Brands, General Mills and Mondelēz International, traded at an advanced PE multiple of 0.93x, 2.28x, 2.72x and 3.68x, respectively.

Beyond Meat is still in a growth phase and has considerable scope to expand. In May, Barclays analysts projected that the alternative meat market would reach $ 140 billion in the next decade. The scope of the expansion has allowed the company to operate at a multiple valuation value greater than its peers.

Before their second-quarter earnings, analysts prefer a "hold" rating for Beyond Meat. The eight analysts that follow the company have given it a "retention" rating. On average, the analyst target price for BYND is $ 115.67, a 50.8% drop from the current price of its shares.

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