Month: October 2020

Supply-Chain Delays Hit Retailer Restocking Efforts

3 months ago Jaime E. Love

Supply-chain bottlenecks caused by a crush of imports heading into U.S. seaports are pinching retailers’ efforts to stock up as consumers pick up their spending.

Executives at

Steve Madden Ltd.

and

Crocs Inc.,

merchants known for their footwear, both said in their third-quarter reports this week that they were hit by logistics delays in getting goods to distribution centers and stores heading into a critical selling season.

“There was sort of a limited supply or a challenge getting containers and vessels, which slowed things down overseas,” Steve Madden Chief Executive and Chairman Ed Rosenfeld said on the company’s earnings call on Tuesday. He said operations at the company’s warehouses and those of its wholesale customers also “have been slower just due to some labor shortages and other disruption due to Covid.”

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2 Top Healthcare Stocks That Jumped Last Week

3 months ago Jaime E. Love

Last week wasn’t a great one for the overall stock market, but it worked out well for investors holding some of the best stocks in the healthcare sector. 

Company (Symbol) Price Change During Week Ended Oct. 23, 2020  Market Cap
Align Technology (NASDAQ:ALGN) 40% $37 billion
Kodiak Sciences (NASDAQ:KOD) 26% $4.3 billion

Data source: Yahoo! Finance.

Here’s what drove these stocks higher, and why they can probably keep on climbing.

1. Align Technology: A big rebound 

Translucent braces are increasingly popular, and this company markets a leading brand, Invisalign. Shares of Align Technology shot up last week after the company reported third-quarter revenue that rose 20.9% year over year to $734 million.

Two healthcare professionals looking at a chart.

Image source: Getty Images.

Efforts to contain the global COVID-19 pandemic led Wall Street to assume much of Align’s business would be gobbled up by its main competitor, SmileDirectClub (NASDAQ:SDC), which

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Global Shipping’s UN Climate Talks Fail Amid Threats Of A Walkout

3 months ago Jaime E. Love

The UN agency responsible for setting climate targets for global shipping, was left red faced today, as delegates pushed measures that broke the Paris Agreement on Climate Change.

After a week of talks, delegates at the UN’s International Maritime Organization failed to agree to targets that would meet the Paris Agreement, as they had originally agreed to do in 2018, a deal the shipping industry hailed as ‘historic’ and which 100 countries had voted on.

Even worse, what emerged today was that IMO will not be imposing any meaningful penalties for ships that fail these weaker greenhouse gas standards. So today’s conclusion to the week

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Align Soars as Analysts Rave About Third-Quarter Earnings

3 months ago Jaime E. Love

Align Technology  (ALGN) – Get Report was getting rave reviews from analysts Thursday after the maker of Invisalign teeth straighteners beat Wall Street’s third-quarter earnings expectations. 

Shares of the San Jose-based medical device company were surging 34.8% to $453.

Evercore ISI analyst Elizabeth Anderson wrote in an investors’ note that Align Technology “knocked it out of the ballpark” in the quarter.

“Align’s results show continued dental recovery in the U.S.,” Anderson said. “Strong top-line revenue beat, plus much higher-than-expected aligner revenue bodes well for the global recovery, and third-quarter growth likely benefitted from a strong teen season.”

Align Technology reported net income of $139.4 million, or $1.76 a share, compared with $102.5 million, or $1.28 a share, a year ago. Adjusted earnings were $2.25 a share.

Revenue totaled $734.1 million, up from the year-ago figure of $607.3 million. Analysts surveyed by FactSet had forecast earnings of 64 cents

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Valentina Isakina Joins Bold Penguin’s Advisory Board | Ohio

3 months ago Jaime E. Love

COLUMBUS, Ohio, Oct. 20, 2020 /PRNewswire/ — Rapidly growing commercial insurance technology provider Bold Penguin announces today it has appointed Valentina Isakina to its Advisory Board. As an accomplished global executive, Isakina offers world-class expertise that will support Bold Penguin’s business and talent growth goals. She also brings decades of relevant experience advising businesses and leadership teams at Fortune 100 insurance companies, financial institutions, and governments.

“Valentina brings a tremendous amount of global experience as we continue our strong pace of growth.” – Ilya Bodner, CEO

“We seek and value insight from the mentorship that our advisory group brings,” said Ilya Bodner, founder and CEO of Bold Penguin. “Valentina brings a tremendous amount of global experience as we continue our strong pace of growth.”

Isakina’s previous roles include advisor for the Office of Tony Blair, strategy for Nationwide Insurance, and consulting roles at McKinsey & Company

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One More Reason to Buy Micron Technology Stock

3 months ago Jaime E. Love

Micron Technology (NASDAQ:MU) investors are likely worried after the company announced that its business will take a hit on account of lower information technology (IT) infrastructure spending and restricted shipments to Huawei.

Management’s guidance for the current quarter was muted, sowing seeds of uncertainty about the direction the memory market might take in the coming months. But the memory specialist is sitting on lucrative tailwinds such as the growth of 5G wireless networks that could help the company regain its mojo. And now, Micron investors can count on another potential boost in the form of a rebounding PC (personal computer) market.

Person pressing the buy button on a keyboard.

Image source: Getty Images

The PC market is showing signs of life

PC sales have increased lately as the coronavirus pandemic has forced people to remain indoors, triggering a shift toward remote working and online education. According to Gartner, PC shipments in the third quarter

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