Archives for January 13, 2020

Mazda purposely limited its new EV ‘to feel more like a gas car’

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It took not only removed the range but some of the fun from the MX-30.

Mazda not only limited the range of its first EV, the MX-30, it also took some of the fun out of it on purpose, too. The automaker said it tuned the torque deliver of the electric motor to feel less like an EV and more like a gasoline-powered car, according to Autocar. With 192 pound-feet of torque, the EV will take a leisurely nine seconds to accelerate from 0 to 60 mph — not bad for a gas car, but far slower than EVs like Tesla’s Model 3.

Even though it’s producing the MX-3, Mazda seems less than enthusiastic about electric cars. It recently said that it made the MX-3 with a relatively small 35.5 kWh battery because long-range EVs are worse for the environment than diesels — a claim that’s based on a number of questionable assumptions. As a result, the MX-3 is only expected to go up to 120 miles or so on a charge, based on EPA figures.

Mazda said that it will never offer “big-battery” electric car, and plans to offer a hybrid version of the MX-30 with a rotary engine range extender. It could be pinning most of its hopes on that vehicle, as its PR efforts around the all-electric MX-30 have not generated much enthusiasm to date.

Canon’s Robotic Camera System controls multiple DSLRs from afar

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Pros can zoom and move cameras from the comfort of a PC.

Pro photographers who need to control multiple cameras at once just got a useful tool — if they have the right camera. Canon has introduced a CR-S700R Robotic Camera system that lets you remotely steer multiple DSLRs from a PC. You can only use it for still photos, but you can zoom, pan, tilt and roll when you’re trying to capture a sporting event from multiple angles. The absence of video is an advantage, if you believe Canon — it allows for a “more compact and lightweight” design that doesn’t need wires (if you have a companion CR-G100 controller).

There’s one main problem: right now, you’ll need either an EOS 1D X Mark II or Mark III to take advantage of this. You can forget about slotting in a mirrorless model with a kit lens, at least for now. You’ll also need a compatible lens from the high-end L-series family, such as the 24-70mm f/2.8L or the 100-400mm f/4.5-5.6L.

The Robotic Camera System arrives in mid-February. Canon didn’t provide pricing, but cost arguably isn’t the deciding factor here. If you’re a pro who needs to remotely control multiple cameras for assignments, you can either justify the cost or make your company foot the bill.

Analysts Reduce Earnings Estimates for Aduro BioTech Inc (NASDAQ:ADRO)

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Aduro BioTech Inc (NASDAQ:ADRO) – Stock analysts at Oppenheimer dropped their FY2023 earnings per share estimates for shares of Aduro BioTech in a research report issued to clients and investors on Tuesday, December 17th, Zacks Investment Research reports. Oppenheimer analyst M. Breidenbach now anticipates that the biotechnology company will earn ($0.87) per share for the year, down from their prior estimate of ($0.65).

Aduro BioTech (NASDAQ:ADRO) last issued its quarterly earnings results on Thursday, November 7th. The biotechnology company reported ($0.20) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.03. The company had revenue of $4.80 million during the quarter, compared to the consensus estimate of $4.55 million. Aduro BioTech had a negative return on equity of 78.64% and a negative net margin of 544.94%.

A number of other analysts have also weighed in on ADRO. HC Wainwright reduced their target price on Aduro BioTech from $7.00 to $4.00 and set a “buy” rating on the stock in a research note on Wednesday, December 18th. William Blair lowered Aduro BioTech from an “outperform” rating to a “market perform” rating in a research note on Wednesday, December 18th. Cowen lowered Aduro BioTech from an “outperform” rating to a “market perform” rating in a research note on Thursday. Finally, ValuEngine upgraded Aduro BioTech from a “hold” rating to a “buy” rating in a research note on Friday, January 3rd. Six research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $6.50.

ADRO traded down $0.14 during trading on Friday, reaching $1.19. The company had a trading volume of 2,414,566 shares, compared to its average volume of 963,147. The company has a quick ratio of 7.26, a current ratio of 7.26 and a debt-to-equity ratio of 0.39. The business has a 50 day simple moving average of $1.16 and a 200-day simple moving average of $1.23. Aduro BioTech has a 52 week low of $0.90 and a 52 week high of $4.59. The stock has a market cap of $107.08 million, a P/E ratio of -1.03 and a beta of 1.49.

Institutional investors have recently made changes to their positions in the company. Virtu Financial LLC increased its stake in shares of Aduro BioTech by 234.9% during the third quarter. Virtu Financial LLC now owns 33,901 shares of the biotechnology company’s stock valued at $36,000 after buying an additional 23,778 shares during the period. Wedbush Securities Inc. purchased a new position in shares of Aduro BioTech during the third quarter valued at $39,000. Jane Street Group LLC purchased a new position in shares of Aduro BioTech during the second quarter valued at $56,000. Prudential Financial Inc. increased its stake in shares of Aduro BioTech by 31.4% during the second quarter. Prudential Financial Inc. now owns 38,880 shares of the biotechnology company’s stock valued at $60,000 after buying an additional 9,300 shares during the period. Finally, Alambic Investment Management L.P. purchased a new position in shares of Aduro BioTech during the second quarter valued at $62,000. Hedge funds and other institutional investors own 39.58% of the company’s stock.

In other news, insider Elsas Andrea Van sold 73,311 shares of the firm’s stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $1.19, for a total transaction of $87,240.09. Following the transaction, the insider now owns 445,190 shares in the company, valued at $529,776.10. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In the last quarter, insiders sold 80,880 shares of company stock worth $96,020. Insiders own 5.20% of the company’s stock.

About Aduro BioTech

Aduro BioTech, Inc, a clinical-stage biopharmaceutical company, focuses on the discovery, development, and commercialization of therapies to harness the body’s natural immune system for the treatment of patients with challenging diseases. The company is developing ADU-S100, which is in Phase I dose escalation and dose expansion clinical trial and Phase Ib dose escalation and dose expansion clinical trial in combination with spartalizumab to treat patients with advanced, metastatic treatment-refractory solid tumors; Phase I clinical trial in combination with ipilimumab for the treatment of relapsed and refractory melanoma; and Phase Ib/II clinical trial in combination with an approved anti-PD-1 antibody in patients with squamous cell carcinoma of the head and neck.

Analysts Set Expectations for Casey’s General Stores Inc’s Q3 2020 Earnings (NASDAQ:CASY)

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Casey’s General Stores Inc (NASDAQ:CASY) – Northcoast Research reduced their Q3 2020 earnings estimates for Casey’s General Stores in a research note issued on Wednesday, December 18th, according to Zacks Investment Research. Northcoast Research analyst C. Cerankosky now expects that the company will earn $1.00 per share for the quarter, down from their previous forecast of $1.10. Northcoast Research also issued estimates for Casey’s General Stores’ Q4 2020 earnings at $0.89 EPS and FY2021 earnings at $6.90 EPS.

Several other research analysts also recently issued reports on CASY. BMO Capital Markets lowered their price objective on Casey’s General Stores from $170.00 to $165.00 and set a “market perform” rating for the company in a research note on Wednesday, December 11th. Sidoti increased their target price on shares of Casey’s General Stores from $166.00 to $174.00 and gave the company a “neutral” rating in a research report on Thursday, September 19th. BidaskClub raised shares of Casey’s General Stores from a “sell” rating to a “hold” rating in a research report on Wednesday, December 25th. Finally, ValuEngine downgraded shares of Casey’s General Stores from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. One analyst has rated the stock with a sell rating, ten have issued a hold rating and three have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $172.30.

Shares of Casey’s General Stores stock traded up $3.80 on Friday, hitting $168.01. The stock had a trading volume of 336,585 shares, compared to its average volume of 295,088. The stock has a 50 day moving average of $164.43 and a 200 day moving average of $164.69. Casey’s General Stores has a twelve month low of $122.86 and a twelve month high of $179.21. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.11 and a current ratio of 0.36. The firm has a market capitalization of $6.04 billion, a P/E ratio of 30.49, a PEG ratio of 2.86 and a beta of 0.50.

Casey’s General Stores (NASDAQ:CASY) last posted its earnings results on Monday, December 9th. The company reported $2.21 EPS for the quarter, topping analysts’ consensus estimates of $2.15 by $0.06. The firm had revenue of $2.49 billion during the quarter, compared to analysts’ expectations of $2.53 billion. Casey’s General Stores had a net margin of 2.51% and a return on equity of 16.06%. The business’s revenue for the quarter was down 2.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.80 earnings per share.

Large investors have recently modified their holdings of the business. LS Investment Advisors LLC increased its position in shares of Casey’s General Stores by 8.6% during the 3rd quarter. LS Investment Advisors LLC now owns 806 shares of the company’s stock valued at $130,000 after purchasing an additional 64 shares during the last quarter. MML Investors Services LLC increased its holdings in Casey’s General Stores by 2.5% in the 2nd quarter. MML Investors Services LLC now owns 2,795 shares of the company’s stock worth $436,000 after acquiring an additional 69 shares during the last quarter. TrinityPoint Wealth LLC increased its holdings in Casey’s General Stores by 4.5% in the 2nd quarter. TrinityPoint Wealth LLC now owns 1,848 shares of the company’s stock worth $301,000 after acquiring an additional 80 shares during the last quarter. Benjamin Edwards Inc. increased its holdings in Casey’s General Stores by 9.3% in the 3rd quarter. Benjamin Edwards Inc. now owns 976 shares of the company’s stock worth $157,000 after acquiring an additional 83 shares during the last quarter. Finally, Commerce Bank increased its holdings in Casey’s General Stores by 1.5% in the 2nd quarter. Commerce Bank now owns 6,052 shares of the company’s stock worth $944,000 after acquiring an additional 87 shares during the last quarter. Institutional investors and hedge funds own 86.19% of the company’s stock.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 17th. Shareholders of record on Monday, February 3rd will be paid a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 0.76%. The ex-dividend date of this dividend is Friday, January 31st. Casey’s General Stores’s dividend payout ratio (DPR) is presently 23.23%.

About Casey’s General Stores

Casey’s General Stores, Inc, together with its subsidiaries, operates convenience stores under the Casey’s and Casey’s General Store names. The company’s stores offer a selection of food, including freshly prepared foods, such as pizza, donuts, and sandwiches; beverage and tobacco products; health and beauty aids; automotive products; school supplies, housewares, and pet supplies; and other nonfood items.

Analysts Set Expectations for TCF Financial Co.’s FY2019 Earnings (NYSE:TCF)

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TCF Financial Co. (NYSE:TCF) – Analysts at Jefferies Financial Group reduced their FY2019 earnings per share estimates for TCF Financial in a report released on Tuesday, January 7th. Jefferies Financial Group analyst C. Haire now expects that the bank will earn $4.00 per share for the year, down from their prior forecast of $4.04. Jefferies Financial Group also issued estimates for TCF Financial’s Q4 2019 earnings at $1.01 EPS, Q2 2020 earnings at $1.02 EPS, Q3 2020 earnings at $1.11 EPS, Q4 2020 earnings at $1.16 EPS, FY2020 earnings at $4.20 EPS, Q1 2021 earnings at $1.06 EPS, Q2 2021 earnings at $1.15 EPS, Q3 2021 earnings at $1.20 EPS and FY2021 earnings at $4.65 EPS.

Other equities research analysts also recently issued reports about the company. Raymond James reiterated a “strong-buy” rating and issued a $58.00 price target (up from $53.00) on shares of TCF Financial in a report on Monday, December 30th. TheStreet upgraded TCF Financial from a “c+” rating to a “b-” rating in a report on Wednesday, November 27th. Morgan Stanley lowered their price target on TCF Financial from $45.00 to $44.00 and set an “equal weight” rating for the company in a report on Thursday, October 3rd. Bank of America began coverage on TCF Financial in a report on Monday, October 28th. They issued a “neutral” rating and a $44.00 price target for the company. Finally, Wells Fargo & Co lowered their price target on TCF Financial from $52.00 to $50.00 and set an “outperform” rating for the company in a report on Wednesday, October 2nd. Five investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. TCF Financial currently has an average rating of “Buy” and a consensus target price of $44.00.

Shares of NYSE TCF opened at $45.39 on Friday. TCF Financial has a twelve month low of $35.96 and a twelve month high of $47.71. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.64. The company has a market capitalization of $6.96 billion, a price-to-earnings ratio of 23.89, a price-to-earnings-growth ratio of 1.36 and a beta of 1.30. The business has a 50 day simple moving average of $44.89 and a 200-day simple moving average of $36.96.

TCF Financial (NYSE:TCF) last issued its quarterly earnings results on Monday, October 28th. The bank reported $0.98 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.97 by $0.01. TCF Financial had a return on equity of 14.01% and a net margin of 20.10%. The business had revenue of $459.81 million during the quarter, compared to the consensus estimate of $483.69 million. During the same period in the previous year, the business earned $1.00 EPS. The business’s quarterly revenue was up 48.0% on a year-over-year basis.

Large investors have recently added to or reduced their stakes in the company. Nelson Van Denburg & Campbell Wealth Management Group LLC bought a new position in shares of TCF Financial in the third quarter worth $26,000. Stonebridge Capital Advisors LLC acquired a new stake in shares of TCF Financial in the second quarter valued at $27,000. Signaturefd LLC lifted its holdings in shares of TCF Financial by 188.1% in the third quarter. Signaturefd LLC now owns 700 shares of the bank’s stock valued at $27,000 after buying an additional 457 shares during the period. Optimum Investment Advisors acquired a new stake in shares of TCF Financial in the third quarter valued at $45,000. Finally, Huntington National Bank acquired a new stake in shares of TCF Financial in the third quarter valued at $75,000. 80.46% of the stock is owned by institutional investors.

In other TCF Financial news, Director Arthur A. Weiss purchased 4,800 shares of the firm’s stock in a transaction dated Thursday, November 14th. The stock was bought at an average price of $41.91 per share, with a total value of $201,168.00. Following the completion of the purchase, the director now owns 32,751 shares in the company, valued at approximately $1,372,594.41. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Vance K. Opperman purchased 10,000 shares of the firm’s stock in a transaction dated Thursday, October 31st. The stock was acquired at an average cost of $42.51 per share, with a total value of $425,100.00. Corporate insiders own 2.50% of the company’s stock.

About TCF Financial

TCF Financial Corporation operates as the bank holding company for TCF National Bank that provides various financial products and services in the United States and Canada. It operates through Consumer Banking, Wholesale Banking, and Enterprise Services segments. The company offers checking, savings, and money market accounts; certificates of deposit; and individual retirement accounts.

Analysts Decrease Earnings Estimates for Ashland Global Holdings Inc (NYSE:ASH)

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Ashland Global Holdings Inc (NYSE:ASH) – Research analysts at SunTrust Banks cut their Q1 2020 earnings per share estimates for shares of Ashland Global in a research note issued on Tuesday, January 7th. SunTrust Banks analyst J. Sheehan now expects that the basic materials company will post earnings per share of $0.06 for the quarter, down from their prior estimate of $0.26.

A number of other analysts also recently weighed in on the stock. Zacks Investment Research downgraded shares of Ashland Global from a “hold” rating to a “strong sell” rating in a report on Monday, December 23rd. Monness Crespi & Hardt upgraded shares of Ashland Global from a “neutral” rating to a “buy” rating and set a $88.00 target price on the stock in a report on Monday, October 14th. Buckingham Research reduced their target price on shares of Ashland Global from $85.00 to $80.00 and set a “neutral” rating on the stock in a report on Wednesday, November 20th. BMO Capital Markets downgraded shares of Ashland Global from an “outperform” rating to a “market perform” rating and set a $77.00 target price on the stock. in a report on Wednesday, November 20th. Finally, Wells Fargo & Co assumed coverage on shares of Ashland Global in a research note on Tuesday, October 15th. They set an “outperform” rating and a $90.00 price target for the company. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the stock. Ashland Global presently has a consensus rating of “Hold” and an average price target of $85.13.

Ashland Global stock opened at $74.38 on Friday. The company’s 50-day moving average price is $74.72 and its 200-day moving average price is $76.00. Ashland Global has a twelve month low of $70.50 and a twelve month high of $81.22. The company has a quick ratio of 1.10, a current ratio of 1.89 and a debt-to-equity ratio of 0.42. The company has a market cap of $4.48 billion, a PE ratio of 29.61, a price-to-earnings-growth ratio of 3.03 and a beta of 1.24.

Ashland Global (NYSE:ASH) last posted its earnings results on Monday, November 18th. The basic materials company reported $0.77 earnings per share for the quarter, missing analysts’ consensus estimates of $0.98 by ($0.21). Ashland Global had a return on equity of 4.64% and a net margin of 20.26%. The business had revenue of $609.00 million during the quarter, compared to the consensus estimate of $644.53 million. During the same quarter last year, the firm earned $0.97 earnings per share. The business’s quarterly revenue was down 9.0% on a year-over-year basis.

A number of institutional investors have recently added to or reduced their stakes in the business. Eminence Capital LP purchased a new stake in Ashland Global in the 2nd quarter valued at about $413,763,000. Wedge Capital Management L L P NC boosted its position in Ashland Global by 8.7% in the 3rd quarter. Wedge Capital Management L L P NC now owns 1,588,305 shares of the basic materials company’s stock valued at $122,379,000 after buying an additional 126,472 shares during the period. Diamond Hill Capital Management Inc. boosted its position in Ashland Global by 9.4% in the 3rd quarter. Diamond Hill Capital Management Inc. now owns 1,507,488 shares of the basic materials company’s stock valued at $116,152,000 after buying an additional 129,934 shares during the period. Pictet Asset Management Ltd. boosted its position in Ashland Global by 7.0% in the 3rd quarter. Pictet Asset Management Ltd. now owns 1,019,458 shares of the basic materials company’s stock valued at $78,549,000 after buying an additional 66,533 shares during the period. Finally, Schroder Investment Management Group boosted its position in Ashland Global by 9.0% in the 2nd quarter. Schroder Investment Management Group now owns 993,030 shares of the basic materials company’s stock valued at $79,413,000 after buying an additional 81,913 shares during the period. 91.16% of the stock is owned by institutional investors.

In other Ashland Global news, CFO J Kevin Willis sold 2,122 shares of the business’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $78.99, for a total value of $167,616.78. Following the completion of the sale, the chief financial officer now directly owns 2,266 shares of the company’s stock, valued at approximately $178,991.34. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP Peter Ganz sold 1,351 shares of the business’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $78.99, for a total transaction of $106,715.49. Following the completion of the sale, the senior vice president now directly owns 40,738 shares of the company’s stock, valued at $3,217,894.62. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 3,982 shares of company stock valued at $314,538. 9.33% of the stock is owned by corporate insiders.

The company also recently declared a quarterly dividend, which was paid on Sunday, December 15th. Investors of record on Monday, December 2nd were paid a dividend of $0.275 per share. The ex-dividend date of this dividend was Friday, November 29th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.48%. Ashland Global’s dividend payout ratio is presently 44.00%.

Ashland Global Company Profile

Ashland Global Holdings Inc provides specialty chemical solutions worldwide. The company’s Specialty Ingredients segment offers products, technologies, and resources for solving formulation and product-performance challenges. It provides solutions using natural, synthetic, and semisynthetic polymers derived from cellulose ethers, vinyl pyrrolidones, acrylic polymers, polyester and polyurethane-based adhesives, and plant and seed extracts.