Archives for January 19, 2020

Boeing finds another software flaw that might delay 737 Max’s return

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The bug could prevent the aircraft from taking off.

Boeing is dealing with another 737 Max software flaw that could prevent the troubled aircraft from returning to the skies, but this time it’s not a safety issue. The company has confirmed that it’s fixing a flaw preventing the 737 Max’s flight control computers from starting up and verifying that they’re ready for flight — in other words, the airliner couldn’t even take off. A spokesperson said Boeing was “working with the FAA” on submitting the fix and was informing partners, but didn’t say when the updated software would be ready.

This may have a ripple effect on Boeing’s ability to complete testing. Wall Street Journal sources said Boeing and the FAA were supposed to run an important certification flight by the end of January, but the new bug makes it likely that this flight will be pushed to “at least” February. Boeing apparently discovered the problem last week when loading software on to the computers of a test aircraft.

The findings add to a growing string of setbacks that led to Boeing freezing 737 Max production until the aircraft is clear to resume flying. And even if the FAA approves software relatively soon, it could take a long time before existing aircraft are ready to resume business in the US (let alone in other countries). Still, officials don’t want to take any chances. Boeing’s design mistakes cost the lives of hundreds of people, and regulators will want to be sure those flaws won’t resurface.

Lexus imagines space vehicles for humans on the Moon

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And they’re all sci-fi worthy.

If humanity ever ends up living on the Moon, what would the vehicles be like? According to Lexus, they’d be sleek, shiny and wouldn’t look out of place in a sci-fi flick. The European Advanced Design Studio for Lexus and Toyota, the brand’s parent company, has created seven lunar vehicle concepts for the Document Journal magazine. They all feature some design elements from the Lexus LF-30 Electric Concept, the luxury automaker’s vision for the next generation of EVs, because the studio was in the midst of its development when the magazine asked for contributions.

Out of the seven concepts, envisioned by five different designers, the one that got published was a motorcycle-like vehicle called Zero Gravity. While it’s supposed to be ridden like a motorbike, it doesn’t have wheels — it was designed with magnetic levitation in mind.

Lexus

The other concepts are just as interesting, though. There’s the Lexus Cosmos that uses a lot of glass, so passengers can enjoy the view while it flies, and the Bouncing Moon Roller that looks like a high-tech gyroscope ride. The Lexus Lunar Cruiser is a multipurpose vehicle meant to provide a smooth ride even on rough lunar terrain, while the Lexus Moon Racer is a recreational vehicle with a glass bubble for a body. Finally, there’s the Lexus Lunar Mission, a vehicle meant to fly people from Earth to its faithful companion.

Of course, all of them are just concepts, and actual lunar vehicles might look a lot less exciting. It’s nice to imagine them flying and zooming around the lunar surface in the future, though, especially since it may take a long, long time before humans become a common sight on the Moon.

Instagram removes the IGTV button you weren’t using

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Most people prefer to find IGTV videos in their usual feeds.

Instagram’s IGTV was supposed to usher in a new era for video in the social network, but that’s not quite how it panned out. And now, the company is tempering its expectations. A Facebook spokesperson has confirmed to TechCrunch that Instagram is removing the IGTV icon at the top of its main interface. “Very few” people use the icon, Facebook said — instead, most are watching IGTV videos through their main feed, the relevant Explore channel, user profiles or the dedicated IGTV app.

There have been a number of concessions over IGTV in the past. Instagram eventually allowed landscape videos rather than insisting on vertical clips, and it just recently enabled the option to post IGTV videos directly from the standard app. This, however, may be one of the more significant changes yet — it’s taking away convenient access to the feature.

The spokesperson didn’t say why use of the button was low. It might be a simple matter of the way people use Instagram, though. As a social network, people primarily use it to catch up with friends and share snippets of their daily lives — they’re not necessarily going to watch a five-minute professionally shot video they could probably find on YouTube. Add in the lack of revenue for creators and there aren’t many reasons to use IGTV when the usual shorter Instagram videos will do the trick.

Pacific Premier Bancorp (NASDAQ:PPBI) Downgraded by BidaskClub

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Pacific Premier Bancorp (NASDAQ:PPBI) was downgraded by equities research analysts at BidaskClub from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Friday, January 10th, BidAskClub reports.

A number of other research firms have also recently weighed in on PPBI. ValuEngine cut Pacific Premier Bancorp from a “hold” rating to a “sell” rating in a report on Friday, January 3rd. Zacks Investment Research upgraded Pacific Premier Bancorp from a “hold” rating to a “buy” rating and set a $37.00 price target for the company in a research report on Thursday, December 26th. Finally, Stephens reissued a “hold” rating and set a $31.00 price target on shares of Pacific Premier Bancorp in a report on Tuesday, October 22nd. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $34.00.

PPBI traded up $0.03 on Friday, hitting $31.72. 158,629 shares of the company’s stock were exchanged, compared to its average volume of 255,374. The firm has a market cap of $1.88 billion, a PE ratio of 12.24 and a beta of 1.23. Pacific Premier Bancorp has a twelve month low of $24.73 and a twelve month high of $34.90. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.41. The stock has a fifty day moving average of $32.55 and a two-hundred day moving average of $31.52.

Pacific Premier Bancorp (NASDAQ:PPBI) last posted its earnings results on Tuesday, October 22nd. The financial services provider reported $0.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.07. The company had revenue of $123.77 million for the quarter, compared to analysts’ expectations of $117.66 million. Pacific Premier Bancorp had a return on equity of 8.07% and a net margin of 28.03%. During the same period last year, the business posted $0.46 earnings per share. On average, analysts predict that Pacific Premier Bancorp will post 2.54 EPS for the current year.

In other news, EVP Christopher Porcelli sold 3,270 shares of the firm’s stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $33.50, for a total transaction of $109,545.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Steven R. Gardner sold 24,000 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $33.10, for a total transaction of $794,400.00. The disclosure for this sale can be found here. Insiders sold a total of 96,679 shares of company stock worth $3,192,014 in the last three months. Company insiders own 3.67% of the company’s stock.

A number of large investors have recently modified their holdings of the stock. BlackRock Inc. lifted its position in shares of Pacific Premier Bancorp by 12.5% during the 2nd quarter. BlackRock Inc. now owns 7,587,878 shares of the financial services provider’s stock valued at $234,314,000 after acquiring an additional 843,759 shares during the last quarter. Vanguard Group Inc. raised its holdings in Pacific Premier Bancorp by 6.8% during the 2nd quarter. Vanguard Group Inc. now owns 5,929,371 shares of the financial services provider’s stock worth $183,099,000 after buying an additional 379,035 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in Pacific Premier Bancorp by 11.1% during the second quarter. Price T Rowe Associates Inc. MD now owns 3,499,092 shares of the financial services provider’s stock valued at $108,052,000 after buying an additional 348,623 shares in the last quarter. State Street Corp lifted its stake in Pacific Premier Bancorp by 2.6% during the third quarter. State Street Corp now owns 2,003,111 shares of the financial services provider’s stock valued at $62,477,000 after buying an additional 50,783 shares in the last quarter. Finally, GW&K Investment Management LLC boosted its holdings in shares of Pacific Premier Bancorp by 8.4% in the third quarter. GW&K Investment Management LLC now owns 881,010 shares of the financial services provider’s stock worth $27,479,000 after buying an additional 68,302 shares during the period. Hedge funds and other institutional investors own 85.14% of the company’s stock.

Pacific Premier Bancorp Company Profile

Pacific Premier Bancorp, Inc operates as the bank holding company for Pacific Premier Bank that provides banking services to businesses, professionals, real estate investors, and non-profit organizations. The company accepts deposit products, such as checking, money market, and savings accounts; and certificates of deposit.

Under Armour (NYSE:UAA) Research Coverage Started at Consumer Edge

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Equities research analysts at Consumer Edge initiated coverage on shares of Under Armour (NYSE:UAA) in a research note issued to investors on Friday, December 27th, MarketBeat.com reports. The firm set an “equal weight” rating and a $23.00 price target on the stock. Consumer Edge’s target price suggests a potential upside of 12.80% from the company’s previous close.

A number of other equities analysts have also weighed in on the stock. Credit Suisse Group restated a “neutral” rating and issued a $25.00 price objective on shares of Under Armour in a report on Thursday, October 31st. Sanford C. Bernstein upgraded shares of Under Armour from an “underperform” rating to a “market perform” rating and boosted their target price for the company from $16.00 to $17.00 in a research note on Tuesday, September 3rd. Goldman Sachs Group set a $26.00 target price on shares of Under Armour and gave the company a “buy” rating in a research note on Tuesday, November 5th. KeyCorp decreased their target price on shares of Under Armour from $30.00 to $23.00 and set an “overweight” rating for the company in a research note on Tuesday, November 5th. Finally, Pivotal Research decreased their target price on shares of Under Armour from $25.00 to $22.00 and set a “hold” rating for the company in a research note on Tuesday, October 29th. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Hold” and an average target price of $21.89.

Shares of UAA stock traded down $0.80 during trading hours on Friday, hitting $20.39. 6,915,462 shares of the company’s stock traded hands, compared to its average volume of 3,886,253. The stock’s fifty day simple moving average is $20.37 and its two-hundred day simple moving average is $20.79. Under Armour has a 12-month low of $16.74 and a 12-month high of $27.72. The stock has a market cap of $9.57 billion, a price-to-earnings ratio of 64.21, a PEG ratio of 1.65 and a beta of 0.57. The company has a quick ratio of 1.29, a current ratio of 2.05 and a debt-to-equity ratio of 0.55.

Under Armour (NYSE:UAA) last released its earnings results on Monday, November 4th. The company reported $0.23 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.18 by $0.05. Under Armour had a net margin of 2.14% and a return on equity of 7.24%. The firm had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.42 billion. During the same period last year, the business earned $0.25 earnings per share. The business’s revenue was down .9% on a year-over-year basis. On average, equities analysts forecast that Under Armour will post 0.34 earnings per share for the current fiscal year.

Several hedge funds have recently modified their holdings of the company. Ossiam purchased a new stake in Under Armour in the 2nd quarter worth $30,000. Cullen Frost Bankers Inc. purchased a new stake in Under Armour in the 3rd quarter worth $31,000. Capital Bank & Trust Co purchased a new stake in Under Armour in the 2nd quarter worth $45,000. Steward Partners Investment Advisory LLC lifted its stake in Under Armour by 14.4% in the 3rd quarter. Steward Partners Investment Advisory LLC now owns 5,284 shares of the company’s stock worth $105,000 after purchasing an additional 667 shares in the last quarter. Finally, Penserra Capital Management LLC purchased a new stake in Under Armour in the 3rd quarter worth $127,000. 39.52% of the stock is owned by hedge funds and other institutional investors.

Under Armour Company Profile

Under Armour, Inc, together with its subsidiaries, develops, markets, and distributes branded performance apparel, footwear, and accessories for men, women, and youth primarily in North America, Europe, the Middle East, Africa, the Asia-Pacific, and Latin America. The company offers its apparel in compression, fitted, and loose types to be worn in hot and cold.

Yelp Inc (NYSE:YELP) Insider Laurence Wilson Sells 19,043 Shares

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Yelp Inc (NYSE:YELP) insider Laurence Wilson sold 19,043 shares of the company’s stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $36.80, for a total transaction of $700,782.40. Following the sale, the insider now owns 160,082 shares of the company’s stock, valued at $5,891,017.60. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Shares of Yelp stock opened at $36.51 on Friday. The company has a current ratio of 3.67, a quick ratio of 3.67 and a debt-to-equity ratio of 0.26. The company’s fifty day simple moving average is $34.47 and its two-hundred day simple moving average is $34.39. The company has a market cap of $2.56 billion, a P/E ratio of 81.13, a PEG ratio of 1.77 and a beta of 1.00. Yelp Inc has a 12-month low of $30.12 and a 12-month high of $40.99.

Yelp (NYSE:YELP) last issued its quarterly earnings data on Thursday, November 7th. The local business review company reported $0.14 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.19 by ($0.05). The company had revenue of $262.47 million for the quarter, compared to analysts’ expectations of $262.55 million. Yelp had a net margin of 5.63% and a return on equity of 4.62%. Analysts predict that Yelp Inc will post 0.54 EPS for the current fiscal year.

A number of equities research analysts recently commented on YELP shares. SunTrust Banks set a $37.00 price target on shares of Yelp and gave the company a “hold” rating in a report on Sunday, November 3rd. Morgan Stanley lowered their price target on shares of Yelp from $32.00 to $31.00 and set an “underweight” rating for the company in a report on Tuesday, October 15th. Aegis reiterated a “buy” rating and set a $45.00 price target on shares of Yelp in a report on Wednesday, October 2nd. Stifel Nicolaus reiterated a “hold” rating and set a $35.00 price target on shares of Yelp in a report on Friday, November 8th. Finally, Wedbush set a $38.00 price target on shares of Yelp and gave the company a “hold” rating in a report on Friday, September 27th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the company’s stock. Yelp has an average rating of “Hold” and a consensus target price of $40.23.

A number of institutional investors have recently modified their holdings of the business. D. E. Shaw & Co. Inc. increased its position in Yelp by 44.2% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 3,407,793 shares of the local business review company’s stock valued at $116,479,000 after purchasing an additional 1,043,745 shares during the period. Soma Equity Partners LP increased its position in Yelp by 3.8% during the 2nd quarter. Soma Equity Partners LP now owns 2,075,000 shares of the local business review company’s stock valued at $70,924,000 after purchasing an additional 75,000 shares during the period. Millennium Management LLC increased its position in Yelp by 1,207.7% during the 3rd quarter. Millennium Management LLC now owns 1,010,059 shares of the local business review company’s stock valued at $35,099,000 after purchasing an additional 932,817 shares during the period. Tenzing Global Management LLC increased its position in Yelp by 60.5% during the 3rd quarter. Tenzing Global Management LLC now owns 762,500 shares of the local business review company’s stock valued at $26,497,000 after purchasing an additional 287,500 shares during the period. Finally, Man Group plc increased its position in Yelp by 17.1% during the 2nd quarter. Man Group plc now owns 506,133 shares of the local business review company’s stock valued at $17,299,000 after purchasing an additional 74,069 shares during the period. 88.69% of the stock is currently owned by institutional investors and hedge funds.

Yelp Company Profile

Yelp Inc operates a platform that connects consumers with local businesses in the United States, Canada, and internationally. The company’s platform covers various local business categories, including restaurants, shopping, beauty and fitness, arts, entertainment and events, home and local services, health, nightlife, travel and hotel, auto, and others.