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[ad_1] Olympics-Director fired over Holocaust comments on eve of opening ceremony [ad_2] Source link

[ad_1] Share Market News Today | Sensex, Nifty, Share Prices LIVE: SGX Nifty was up 119 points on Thursday morning, signalling a positive start. Global markets were marching higher. [ad_2] Source link

[ad_1] The post Chipotle Surges to Record High after Crushing Earnings Estimates appeared first on Millennial Money. Shares of burrito slinger Chipotle (NYSE: CMG) have surged to fresh all-time highs on Wednesday after the restaurant chain reported strong second quarter earnings. As pandemic restrictions ease across the United States, customer traffic is returning while consumers shrug off price increases. As of 11:40 a.m. EDT, the stock was up 11%. A blockbuster quarter Revenue in the second quarter jumped 39% to $1.89 billion, slightly ahead of the consensus estimate of $1.88 billion in sales. Comparable restaurant sales climbed 31.2%, while Chipotle’s agile shift to digital sales during the pandemic continues to pay off. Digital sales increased 10.5% and comprised a whopping 48.5% of total revenue as people continue to leverage the convenience of ordering from their phones. The company’s operating margin has recovered to 13% after temporarily dipping into negative territory a year ago due to lockdowns in mid-2020. That all resulted in adjusted net income of $212.8 million, or $7.46 per share. Wall Street analysts were looking for just $6.49 per share in adjusted profits.  “We remain confident in our key growth strategies and believe they will help us achieve our next goal of $3 million average unit volumes with industry leading returns on invested capital that improve as we continue to add Chipotlanes,” CEO Brian Niccol commented in a release. “Strong restaurant level economics combined with significant restaurant growth should allow us to optimize earnings power for many years to come.” Chipotlanes are the company’s drive-thru format and the company is currently investing in those types of locations. Of the 56 new restaurants opened during the second quarter, 45 stores included a Chipotlane. Chipotle had said last month that it planned to increase menu prices by 4% in order to cover rising costs, particularly labor costs as the company is targeting an average hourly rate of $15. On the conference call with analysts, CFO John Hartung said that the price bumps were “holding strong so far,” allowing the company to pass along costs to customers. Chipotle also benefited from lower beef prices, which helped expand gross margins. In addition to the wage increases being politically popular, the move has helped Chipotle maintain a stable workforce at a time when many retail organizations are struggling to attract employees. Labor shortages have been impacting a wide range of sectors (including at some of Chiptole’s suppliers).  “Through investing in our people, we have been able to maintain the stability of our workforce over the last two years,” Niccol added on the call. “Knowing that our people are the key to our growth, we have been diligent in our recruiting focus since the start of the year.” What comes next Chipotle’s guidance calls for comps to grow in the “low to mid double-digits range” in the third quarter. For the full year, the company expects to open roughly 200 new restaurants. The Delta variant continues to create ongoing macroeconomic uncertainties around the world, but Chipotle is confident in its forecast as long as current trends continue. Pick Like A Pro Where to invest $500 right now Lots of new investors take chances on long shots instead of buying shares of great companies. I prefer businesses like Amazon, Netflix, and Apple — they’re all on my best stocks for beginners list. There’s a company that “called” these businesses long before they hit it big. They first recommended Netflix in 2004 at $1.85 per share, Amazon in 2002 at $15.31 per share, and Apple back in the iPod Shuffle era at $4.97 per share. Take a look where they are now. That company: The Motley Fool. For people ready to make investing part of their strategy for financial freedom, take a look at The Motley Fool’s flagship investing service, Stock Advisor. They just announced their top 10 “best buys now” across the entire stock market. Whether you’re starting with $100, $500, or more, you should check out the full details. Email Address Continue Also opt-in to receive Millennial Money! It’s our newsletter devoted to helping you achieve financial freedom. That means you’ll receive new stock ideas, our favorite side hustles, and much more every single week! By submitting your email address, you consent to us keeping you informed about updates to our website and about other products and services that we think might interest you. You can unsubscribe at any time. Please read our Privacy Statement and Terms & Conditions. window.onload = function(event) { if (!document.getElementById(‘ecap-async-js’)) { Sentry.captureMessage(“MMCTA Plugin Failure: ecap.js not enqueued”); } }; Click here to learn more .tmfsa-text-widget .ecap-widget { padding: 0 !important; border-left: 0 !important; } The post Chipotle Surges to Record High after Crushing Earnings Estimates appeared first on Millennial Money. [ad_2] Source link

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[ad_1] In U.S. charm offensive, Spanish PM highlights recovery to lure investment [ad_2] Source link

[ad_1] Once 5G comes, there are endless possibilities like cloud gaming, virtual/augmented reality etc, becoming an everyday experience. Airtel is the first telco in India to demonstrate 5G over a live network and is conducting 5G trials in major cities. [ad_2] Source link

[ad_1] Auction.com buyer and real estate investor Sue McCormick is ahead of the curve when it comes to President Joe Biden’s plan to revitalize underserved neighborhoods while also providing affordable housing for low- and moderate-income homebuyers. “My passion is really going back into the neighborhoods I grew up in and helping to enhance those areas through my rehabs,” said McCormick, who lives in Atlanta but is buying investment properties in her hometown of Dayton, Ohio. “And I also want to make a profit, of course.” ​ Since buying her first investment home in early 2020, McCormick said she has purchased or is in the process of purchasing 11 more in the Dayton area — all for under $50,000 and all in need of extensive rehab. “The first house I rehabbed last year, it was a house that had fire damage in the kitchen, and it was just kind of an eyesore on a nice quiet street,” said McCormick, who said she purchased the home for $25,000 and then put $65,000 into renovations before selling to an owner-occupant buyer for $134,000. “It was in a predominantly African-American area close to my childhood home,” McCormick continued. “To see older people and even some younger homeowners walkthrough and literally thank me … That really made this project extra special.” Local Investment at a Larger Scale McCormick’s real estate investing strategy and its outcomes in underserved Dayton neighborhoods represent a microcosm of what a new tax credit proposal from the Biden administration is designed to encourage across the country in similar neighborhoods. Dubbed the Neighborhood Homes Tax Credit, the proposal is part of the larger American Jobs Plan legislation — also known as Biden’s infrastructure plan. The tax credit’s goals include attracting “private investment in the development of affordable homes,” and bolstering “homeownership rates for low- and moderate-income homebuyers in underserved communities,” according to a White House fact sheet. The tax credit is structured to incentivize the type of homeownership-producing development that McCormick is doing, but on a larger scale, according to Julia Gordon, president of the National Community Stabilization Trust (NCST). “NCST strongly supports this legislation, which is different from other real estate development incentives because it is reserved for homeownership only. Our organization has worked on it for about five years now, and we manage the large coalition that has been supporting its passage,” Gordon said. “The goal is to support rehabbing or constructing homes at scale, so we could potentially see comprehensive community revitalization projects that affect 50, 100, or even more units.” Identifying Underserved Neighborhoods Properties in underserved Census tracts will qualify for the tax credit, which will go to help cover losses that developers might experience when investing in these areas. The White House estimates about one in four Census tracts are underserved, defined as those with poverty rates that are at least 130% of the area poverty rate, have a median family income below 80% of the area median family income and have median home values that are lower than area median home values. The Neighborhood Homes Coalition, the coalition led by NCST in support of the proposal, has created a map showing which Census tracts qualify. Nearly one-third of the more than 70,000 Census tracts nationwide (32%) are classified as low-income, meaning the tract’s median income is at or below 80% of the area median income, according to the 2019 Low-Income Areas File from the Federal Housing Finance Administration (FHFA). In Montgomery County, Ohio, where the city of Dayton is located, 39% of Census tracts are classified as low income. The county’s 59 low-income Census tracts are the 80th highest number among more than 3,000 counties nationwide. Markets with Most Qualifying Inventory Between 2018 and 2020, a total of 218 distressed properties — either foreclosure sales or bank-owned (REO) sales — in low-income Census tracts were sold via the Auction.com platform in the city of Dayton. That was the 20th highest of any city nationwide and represented 64% of all distressed property sales in Dayton during that period. By comparison, only 34% of all distressed property sales nationwide between 2018 and 2020 were in low-income Census tracts, according to the Auction.com data. The top five cities with the most distressed property sales in low-income Census tracts between 2018 and 2020 were Chicago (902), Baltimore (606), Memphis (541), Columbus, Ohio (533), and Philadelphia (531). The average price of a distressed property located in a low-income Census tract in those five cities ranged from $40,592 in Memphis to $86,338 in Philadelphia. The average price for a distressed property located in a low-income Census tract in Dayton was $38,668 — right in the middle of McCormick’s purchase price range. var divElement = document.getElementById(‘viz1626897583563’); var vizElement = divElement.getElementsByTagName(‘object’)[0]; if ( divElement.offsetWidth > 800 ) { vizElement.style.width=’1000px’;vizElement.style.height=’827px’;} else if ( divElement.offsetWidth > 500 ) { vizElement.style.width=’1000px’;vizElement.style.height=’827px’;} else { vizElement.style.width=’100%’;vizElement.style.height=’727px’;} var scriptElement = document.createElement(‘script’); scriptElement.src = ‘https://public.tableau.com/javascripts/api/viz_v1.js’; vizElement.parentNode.insertBefore(scriptElement, vizElement); Achieving Better Neighborhood Outcomes Purchasing properties in underserved neighborhoods alone won’t allow developers to qualify for the tax credit. They’ll also need to sell the rehabbed properties to eligible homebuyers — presumably owner-occupants, although the proposal doesn’t explicitly specify that — for an affordable price point. The proposal defines that affordable price point as one that does not exceed four times the area median family income. Additionally, properties must be sold to buyers with incomes not exceeding 140% of the area median family income. Local investors like McCormick are also well-aligned when it comes to achieving those desired outcomes of homeownership and affordable inventory. And investors like McCormick are achieving these socially responsible outcomes even while raising home values through extensive rehab and while building wealth for themselves. Among more than 110,000 distressed property sales on the Auction.com platform between 2018 and 2020 with Census tract information available, 49.2% were subsequently resold, according to an analysis of subsequent sales using public record and multiple listing service (MLS) data. The public record data also shows that 69.7% of those resales were owner-occupied — well

[ad_1] The post AvePoint Stock Pops as Goldman Sachs Initiates Coverage With Buy Rating appeared first on Millennial Money. It’s been less than a month since AvePoint (NASDAQ: AVPT) closed its merger with special purpose acquisition company (SPAC) Apex Technology Acquisition Company, and the enterprise software specialist is now receiving a bullish initiation from Wall Street. Goldman Sachs (NYSE: GS) has started AvePoint off with a buy rating alongside a price target of $17, which represents a whopping 68% upside from Tuesday’s closing price. As of 12:15 p.m. EDT, AvePoint shares were up 13%. Here’s why Goldman Sachs likes AvePoint. Riding Microsoft’s coattails AvePoint is a software-as-a-service (SaaS) company that specializes in data management solutions for enterprise organizations that leverage Microsoft (NASDAQ: MSFT) 365. The COVID-19 pandemic has accelerated the rate at which companies are undertaking digital transformations, which represents an opportunity for AvePoint (and Microsoft). “AvePoint is an enterprise data migration leader, facilitating seamless and secure migration of data from legacy on-premise systems to cloud ecosystems, with a primary focus on Microsoft Cloud,” Goldman Sachs analyst Brian Essex wrote in a research note to investors. “AvePoint’s solutions also enable data governance and secure collaboration among enterprise users.” While many SPAC targets are speculative pre-revenue startups, AvePoint is relatively less risky as it generated $151.5 million in revenue in 2020, Essex notes. Annual recurring revenue (ARR) also grew by 33% in the first quarter, which AvePoint reported before closing the de-SPAC transaction. The company is forecasting revenue of $257 million in 2022, with growth driven by expanding the customer base while aggressively targeting small- and medium-sized businesses (SMB) and catering to specific industries. AvePoint estimates that just 3% of Microsoft’s cloud customer base use AvePoint, suggesting that it has plenty of upside as there are 250 million Microsoft customers to pursue. SPAC sentiment remains soft Following an unprecedented SPAC boom in 2020, investor sentiment towards blank check companies has cooled significantly in 2021 due to concerns around valuation as well as heightened regulatory scrutiny. A recent SEC action against Stable Road Acquisition (NASDAQ: SRAC) regarding poor due diligence over its target Momentus has also contributed to broader investor skepticism around SPACs as an asset category. SPAC stocks used to jump once definitive agreements (DAs) were announced, but nowadays many SPAC share prices stay close to the $10 net asset value (NAV). Even after closing its merger, AvePoint had closed at just $10.12 on Tuesday. Essex believes the market is not fully appreciating AvePoint’s potential, suggesting that the company has “remained relatively undiscovered” following the de-SPAC. The analyst suggests that AvePoint’s valuation is reasonable when considering its growth potential. Goldman Sachs is modeling for a compound annual growth rate (CAGR) of over 30% through 2023. “We believe the pace of digital transformation, accelerated by COVID-19, coupled with growing Office 365 adoption will continue to serve as secular tailwinds for AvePoint,” Essex adds. Pick Like A Pro Where to invest $500 right now Before you buy Amazon, or Netflix, or Apple, consider this… The team at Motley Fool first recommended each of those stocks more than a dozen years ago! They discovered Netflix for $1.85 per share, back in the days of DVDs by mail. And recommended Amazon at $15.31 in 2002, before most people were comfortable using credit cards online. And even hit Apple at $4.97 per share, about a month before the release of the very first iPhone. Check out where those stocks are today. The bottom line: a $500 investment in all three of these stocks would be worth more than $200,000 today! And here’s why that’s important: The Motley Fool’s flagship investing service Stock Advisor just announced their top 10 “best buys now” across the entire stock market. Whether you’re starting with $100, $500, or more, you’ll want to get the full details! Email Address Continue Also opt-in to receive Millennial Money! It’s our newsletter devoted to helping you achieve financial freedom. That means you’ll receive new stock ideas, our favorite side hustles, and much more every single week! By submitting your email address, you consent to us keeping you informed about updates to our website and about other products and services that we think might interest you. You can unsubscribe at any time. Please read our Privacy Statement and Terms & Conditions. window.onload = function(event) { if (!document.getElementById(‘ecap-async-js’)) { Sentry.captureMessage(“MMCTA Plugin Failure: ecap.js not enqueued”); } }; Click here to learn more .tmfsa-text-widget .ecap-widget { padding: 0 !important; border-left: 0 !important; } The post AvePoint Stock Pops as Goldman Sachs Initiates Coverage With Buy Rating appeared first on Millennial Money. [ad_2] Source link

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[ad_1] 'Hands off my natural immunity': French protest against COVID health pass [ad_2] Source link