Bruins4Life , No cant buy Market Summary > Mcdonald's Corp NYSE: MCD Had to take it off my list.
THE PRICE OF BEEF IS TOO HIGH !!!!!
Fast food chains typically buy 50 percent beef trim and 90 percent lean. However, demand for trim has increased its price to around $1.93 per pound, up from just $0.25 per pound at the beginning of April, according to the report. Wendy's pulls burgers off menu in some locations due to meat shortage, The Wendy's burger shortage at some locations comes amid reports that about 5,000 meat and poultry plant workers contracted the novel coronavirus in 115 plants across 19 states, according to the Centers for Disease Control and Prevention.
Several of the nation's largest meat processing plants have temporarily shuttered operations due to the outbreak. The closures have halted 25% of pork production and 10% of beef production in the U.S, according to Bloomberg.
THE PRICE OF BEEF IS TOO HIGH !!!!!
Fast food chains typically buy 50 percent beef trim and 90 percent lean. However, demand for trim has increased its price to around $1.93 per pound, up from just $0.25 per pound at the beginning of April, according to the report. Wendy's pulls burgers off menu in some locations due to meat shortage, The Wendy's burger shortage at some locations comes amid reports that about 5,000 meat and poultry plant workers contracted the novel coronavirus in 115 plants across 19 states, according to the Centers for Disease Control and Prevention.
Several of the nation's largest meat processing plants have temporarily shuttered operations due to the outbreak. The closures have halted 25% of pork production and 10% of beef production in the U.S, according to Bloomberg.
Earnings announcement* for AQN: May 07, 2020
Algonquin Power & Utilities Corp. is expected* to report earnings on 05/07/2020 after market close. The report will be for the fiscal Quarter ending Mar 2020. According to Zacks Investment Research, based on 5 analysts' forecasts, the consensus EPS forecast for the quarter is $0.21. The reported EPS for the same quarter last year was $0.19.
Algonquin Power & Utilities Corp. is expected* to report earnings on 05/07/2020 after market close. The report will be for the fiscal Quarter ending Mar 2020. According to Zacks Investment Research, based on 5 analysts' forecasts, the consensus EPS forecast for the quarter is $0.21. The reported EPS for the same quarter last year was $0.19.
Yes, Bruins4Life i bought at the close last night at 13.60 and 13.62 12,000 shares on the NYSE , sold today 15 minutes after the open for a .16 cent profit; and will buy at the close today again. I'm holding about 70,000 shares. I only day trade this stock , iv collected 6 dividend check from AQN at about 4% , just like MSFT i think they turn in good earning numbers. I will trade this stock all the way up to 18 dollars.
Algonquin Power & Utilities Corp. Declares Second Quarter 2020 Preferred Share Dividends.
OAKVILLE, ON, May 7, 2020 /PRNewswire/ - Algonquin Power & Utilities Corp. ("APUC") (TSX/NYSE: AQN) announced today that the Board of Directors has approved a dividend increase of U.S. $0.0564 annually per common share to a total dividend of U.S. $0.6204 per common share, paid quarterly at a rate of U.S. $0.1551 per common share.
APUC also announced today that the Board of Directors has declared a dividend of U.S. $0.1551 per share on its common shares, payable on July 15, 2020, to the shareholders of record on June 30, 2020, for the period from April 1, 2020 to June 30, 2020. Shareholders receiving dividends in cash can elect to receive the dividend in Canadian dollars in the amount of C$0.2191.
The common share dividend will be paid in cash or, if a shareholder has enrolled in the shareholder dividend reinvestment plan (the "Plan"), dividends will be reinvested in additional common shares ("Plan Shares") of APUC as per the Plan. Plan Shares will be acquired by way of a Treasury Purchase at the average market price as defined in the Plan less a 5% discount.
Pursuant to the Income Tax Act (Canada) and corresponding provincial legislation, APUC hereby notifies its common shareholders that such dividends declared qualify as eligible dividends.
OAKVILLE, ON, May 7, 2020 /PRNewswire/ - Algonquin Power & Utilities Corp. ("APUC") (TSX/NYSE: AQN) announced today that the Board of Directors has approved a dividend increase of U.S. $0.0564 annually per common share to a total dividend of U.S. $0.6204 per common share, paid quarterly at a rate of U.S. $0.1551 per common share.
APUC also announced today that the Board of Directors has declared a dividend of U.S. $0.1551 per share on its common shares, payable on July 15, 2020, to the shareholders of record on June 30, 2020, for the period from April 1, 2020 to June 30, 2020. Shareholders receiving dividends in cash can elect to receive the dividend in Canadian dollars in the amount of C$0.2191.
The common share dividend will be paid in cash or, if a shareholder has enrolled in the shareholder dividend reinvestment plan (the "Plan"), dividends will be reinvested in additional common shares ("Plan Shares") of APUC as per the Plan. Plan Shares will be acquired by way of a Treasury Purchase at the average market price as defined in the Plan less a 5% discount.
Pursuant to the Income Tax Act (Canada) and corresponding provincial legislation, APUC hereby notifies its common shareholders that such dividends declared qualify as eligible dividends.
Algonquin Power & Utilities Corp. Announces 2020 First Quarter Financial Results
Company Release - 5/7/2020 6:53 PM ET
OAKVILLE, ON, May 7, 2020 /CNW/ - Algonquin Power & Utilities Corp. (TSX/NYSE: AQN) ("APUC" or the "Company") today announced financial results for the first quarter ended March 31, 2020. All amounts are shown in United States dollars ("U.S. $" or "$"), unless otherwise noted.
"APUC's strong and resilient business model allowed the Company to continue growing in the first quarter of 2020 while navigating through what was a challenging weather environment," said Ian Robertson, Chief Executive Officer of APUC. "We believe APUC is well positioned to deal with the impact COVID-19 may have on our business in 2020. Further, our long term growth prospects continue to provide our Board of Directors with the confidence to approve a 10% increase in APUC's annual dividend this quarter. We also are able to reaffirm that our long term capital plan remains unchanged as we move forward with over $9.2 billion of investment opportunities through 2024."
Q1 2020 Financial Highlights
Revenue of $464.9 million, a decrease of 3%;
Adjusted EBITDA1 of $242.2 million, an increase of 5%;
Adjusted Net Earnings1 of $103.3 million, an increase of 10%; and,
Adjusted Net Earnings1 per share of $0.19, no change, in each case on a year-over-year basis.
APUC Business Highlights
Increase in common share dividend – Consistent with APUC's strategy of delivering total shareholder return comprised of an attractive current dividend yield and capital appreciation, on May 7, 2020, APUC's Board of Directors approved a 10% dividend increase from a total annual dividend of $0.5640 per common share to a total annual dividend of $0.6204 per common share, to be paid quarterly at a rate of $0.1551 per common share, up from $0.1410 per common share.
Long term capital investment program reaffirmed – APUC reaffirmed that notwithstanding the issues arising from COVID-19 in 2020, APUC's long term growth prospects remain unchanged. Over the long term, the Company remains well-positioned to enhance shareholder value through the execution of its capital plan as well as the balance and strength of a diversified portfolio across the Regulated Services Group and the Renewable Energy Group. The Company continues to maintain its previously-disclosed expectations regarding its approximately $9.2 billion development pipeline consisting of approximately $6.7 billion of investments in its Regulated Services Group and approximately $2.5 billion of investments in its Renewable Energy Group through to the end of 2024.
Regulated Services Group Highlights
Issuance of C$200 million of senior unsecured debentures – On February 14, 2020, Liberty Utilities (Canada) LP, the holding company of the New Brunswick Gas System, established its Canadian bond platform to finance the New Brunswick Gas System with the issuance of C$200.0 million of senior unsecured debentures bearing interest at 3.315% and a maturity date of February 14, 2050. The Canadian bond platform can be used for future debt issuances to accommodate future regulated utility growth in Canada. The debentures received a rating of BBB from DBRS.
Company Response to COVID-19 Pandemic
Positioned health and safety at the forefront – APUC holds the health, safety and well-being of its employees, customers and the communities in which it operates as a top priority. Due to the COVID-19 pandemic, the Company began restricting business travel, implemented "work from home" policies where possible, adopted physical distancing requirements between employees, customers, and other precautions intended to protect the health and safety of the Company's employees and customers.
Uninterrupted utility operations maintained – As an operator of electric, water and gas utility systems and a generator of electricity, the Company provides essential services to communities throughout North America. APUC has ensured that these utility services have continued safely and uninterrupted since the onset of the public health measures taken to address the COVID-19 pandemic.
Additional liquidity obtained – Given the uncertainty around the length and extent of public health measures to address the COVID-19 pandemic and uncertainty around the extent of the impact this could have on capital markets, APUC and its subsidiaries secured an additional $1.6 billion of liquidity as an additional margin of safety intended to ensure the Company can continue to move forward with its updated 2020 capital expenditure plan and committed acquisitions independent of the state of the capital markets.
Supported local communities – APUC has temporarily suspended the disconnection of customer utility services for non-payment, temporarily waived late payment charges, and temporarily suspended collection of overdue accounts, across all of its utility service territories. The Company also announced a $500,000 donation across its operating territories during the COVID-19 pandemic to local community support organizations such as foodbanks, and is also donating personal protective equipment to support front-line workers.
Updated 2020 Outlook – In light of the unfavourable weather variance experienced during Q1 2020, and considering that it is not known whether cost containment strategies will be sufficient to mitigate both the unfavourable weather impact of the first quarter and the impact of COVID-19 in the balance of 2020, APUC is updating its previously-issued Adjusted Net Earnings per share guidance for the 2020 fiscal year from $0.68 - $0.70 to $0.65 - $0.70. The revised guidance is based on, and should be read in conjunction with, the assumptions set out under "Outlook – Updated 2020 Adjusted Net Earnings Per Share Guidance" and "Forward-Looking Statements and Forward-Looking Information" in APUC's Management Discussion & Analysis for the three months ended March 31, 2020, which will be available on SEDAR and EDGAR. Please also refer to "Caution Regarding Forward-Looking Information" and "Non-GAAP Financial Measures and Use of Non-GAAP Financial Measures" at the end of this document.
Updated 2020 capital expenditure estimates – APUC also updated its capital expenditure estimates for the 2020 fiscal year. The Company expects to defer between $100.0 million to $300.0 million of capital expenditures originally planned for 2020 to 2021. Aggregate 2020 capital expenditures for the Company are now expected to be in the range of $1.30 billion to $1.75 billion which is revised from the Company's previous estimate of $1.60 billion to $1.85 billion. The deferral of up to $75 million of capital expenditures in the Regulated Services Group is targeted to areas that are not anticipated to change expected earnings for the group in 2020. The deferral of capital expenditures in the Renewable Energy Group is not expected to change the current targeted in service dates for renewable energy projects currently under construction. The Company will continue to monitor the impacts of COVID-19 and other factors on its updated 2020 capital expenditure estimates. Please refer to "Caution Regarding Forward-Looking Information" at the end of this document.
Company Release - 5/7/2020 6:53 PM ET
OAKVILLE, ON, May 7, 2020 /CNW/ - Algonquin Power & Utilities Corp. (TSX/NYSE: AQN) ("APUC" or the "Company") today announced financial results for the first quarter ended March 31, 2020. All amounts are shown in United States dollars ("U.S. $" or "$"), unless otherwise noted.
"APUC's strong and resilient business model allowed the Company to continue growing in the first quarter of 2020 while navigating through what was a challenging weather environment," said Ian Robertson, Chief Executive Officer of APUC. "We believe APUC is well positioned to deal with the impact COVID-19 may have on our business in 2020. Further, our long term growth prospects continue to provide our Board of Directors with the confidence to approve a 10% increase in APUC's annual dividend this quarter. We also are able to reaffirm that our long term capital plan remains unchanged as we move forward with over $9.2 billion of investment opportunities through 2024."
Q1 2020 Financial Highlights
Revenue of $464.9 million, a decrease of 3%;
Adjusted EBITDA1 of $242.2 million, an increase of 5%;
Adjusted Net Earnings1 of $103.3 million, an increase of 10%; and,
Adjusted Net Earnings1 per share of $0.19, no change, in each case on a year-over-year basis.
APUC Business Highlights
Increase in common share dividend – Consistent with APUC's strategy of delivering total shareholder return comprised of an attractive current dividend yield and capital appreciation, on May 7, 2020, APUC's Board of Directors approved a 10% dividend increase from a total annual dividend of $0.5640 per common share to a total annual dividend of $0.6204 per common share, to be paid quarterly at a rate of $0.1551 per common share, up from $0.1410 per common share.
Long term capital investment program reaffirmed – APUC reaffirmed that notwithstanding the issues arising from COVID-19 in 2020, APUC's long term growth prospects remain unchanged. Over the long term, the Company remains well-positioned to enhance shareholder value through the execution of its capital plan as well as the balance and strength of a diversified portfolio across the Regulated Services Group and the Renewable Energy Group. The Company continues to maintain its previously-disclosed expectations regarding its approximately $9.2 billion development pipeline consisting of approximately $6.7 billion of investments in its Regulated Services Group and approximately $2.5 billion of investments in its Renewable Energy Group through to the end of 2024.
Regulated Services Group Highlights
Issuance of C$200 million of senior unsecured debentures – On February 14, 2020, Liberty Utilities (Canada) LP, the holding company of the New Brunswick Gas System, established its Canadian bond platform to finance the New Brunswick Gas System with the issuance of C$200.0 million of senior unsecured debentures bearing interest at 3.315% and a maturity date of February 14, 2050. The Canadian bond platform can be used for future debt issuances to accommodate future regulated utility growth in Canada. The debentures received a rating of BBB from DBRS.
Company Response to COVID-19 Pandemic
Positioned health and safety at the forefront – APUC holds the health, safety and well-being of its employees, customers and the communities in which it operates as a top priority. Due to the COVID-19 pandemic, the Company began restricting business travel, implemented "work from home" policies where possible, adopted physical distancing requirements between employees, customers, and other precautions intended to protect the health and safety of the Company's employees and customers.
Uninterrupted utility operations maintained – As an operator of electric, water and gas utility systems and a generator of electricity, the Company provides essential services to communities throughout North America. APUC has ensured that these utility services have continued safely and uninterrupted since the onset of the public health measures taken to address the COVID-19 pandemic.
Additional liquidity obtained – Given the uncertainty around the length and extent of public health measures to address the COVID-19 pandemic and uncertainty around the extent of the impact this could have on capital markets, APUC and its subsidiaries secured an additional $1.6 billion of liquidity as an additional margin of safety intended to ensure the Company can continue to move forward with its updated 2020 capital expenditure plan and committed acquisitions independent of the state of the capital markets.
Supported local communities – APUC has temporarily suspended the disconnection of customer utility services for non-payment, temporarily waived late payment charges, and temporarily suspended collection of overdue accounts, across all of its utility service territories. The Company also announced a $500,000 donation across its operating territories during the COVID-19 pandemic to local community support organizations such as foodbanks, and is also donating personal protective equipment to support front-line workers.
Updated 2020 Outlook – In light of the unfavourable weather variance experienced during Q1 2020, and considering that it is not known whether cost containment strategies will be sufficient to mitigate both the unfavourable weather impact of the first quarter and the impact of COVID-19 in the balance of 2020, APUC is updating its previously-issued Adjusted Net Earnings per share guidance for the 2020 fiscal year from $0.68 - $0.70 to $0.65 - $0.70. The revised guidance is based on, and should be read in conjunction with, the assumptions set out under "Outlook – Updated 2020 Adjusted Net Earnings Per Share Guidance" and "Forward-Looking Statements and Forward-Looking Information" in APUC's Management Discussion & Analysis for the three months ended March 31, 2020, which will be available on SEDAR and EDGAR. Please also refer to "Caution Regarding Forward-Looking Information" and "Non-GAAP Financial Measures and Use of Non-GAAP Financial Measures" at the end of this document.
Updated 2020 capital expenditure estimates – APUC also updated its capital expenditure estimates for the 2020 fiscal year. The Company expects to defer between $100.0 million to $300.0 million of capital expenditures originally planned for 2020 to 2021. Aggregate 2020 capital expenditures for the Company are now expected to be in the range of $1.30 billion to $1.75 billion which is revised from the Company's previous estimate of $1.60 billion to $1.85 billion. The deferral of up to $75 million of capital expenditures in the Regulated Services Group is targeted to areas that are not anticipated to change expected earnings for the group in 2020. The deferral of capital expenditures in the Renewable Energy Group is not expected to change the current targeted in service dates for renewable energy projects currently under construction. The Company will continue to monitor the impacts of COVID-19 and other factors on its updated 2020 capital expenditure estimates. Please refer to "Caution Regarding Forward-Looking Information" at the end of this document.
Asian markets gain after report that U.S., China trade negotiators speak Nikkei, Kospi up more than 1%; stocks rise in Sydney despite grim outlook by central bank.
Japan’s Nikkei NIK, +2.56% jumped 1.8% and Hong Kong’s Hang Seng Index HSI, +1.04% rose 0.9%. The Shanghai Composite SHCOMP, +0.83% advanced 0.6% while the smaller-cap Shenzhen Composite 399106, +1.17% gained 0.8%. South Korea’s Kopsi 180721, +0.89% was up 1.3% and benchmark indexes in Taiwan Y9999, +0.54% , Singapore STI, +0.01% and Indonesia
“The global grand reopening is starting to take shape and investors will soon be reveling to the ring of department store cash registers heralding in the consumer-driven rebound,” Stephen Innes, chief global markets strategist at AxiCorp, wrote in a note. “Even with the economic clouds much gloomier than expected, the central banks’ money-printing machines and the endless stream of government financial support will see us through the gloaming.”
Friday is going to a cash cow.
Japan’s Nikkei NIK, +2.56% jumped 1.8% and Hong Kong’s Hang Seng Index HSI, +1.04% rose 0.9%. The Shanghai Composite SHCOMP, +0.83% advanced 0.6% while the smaller-cap Shenzhen Composite 399106, +1.17% gained 0.8%. South Korea’s Kopsi 180721, +0.89% was up 1.3% and benchmark indexes in Taiwan Y9999, +0.54% , Singapore STI, +0.01% and Indonesia
“The global grand reopening is starting to take shape and investors will soon be reveling to the ring of department store cash registers heralding in the consumer-driven rebound,” Stephen Innes, chief global markets strategist at AxiCorp, wrote in a note. “Even with the economic clouds much gloomier than expected, the central banks’ money-printing machines and the endless stream of government financial support will see us through the gloaming.”
Friday is going to a cash cow.
A Giant Pension Bought Up Uber and Lyft Stock. Here’s What It Sold.
New York’s state pension made a big bet on ride-hailing services in the first quarter, which was rocked by a coronavirus-induced market slump.
The New York State Common Retirement Fund quadrupled investments in Uber Technologies (ticker: UBER) and Lyft stock (LYFT) in the quarter, and sold Advanced Micro Devices (AMD) and Nike stock (NKE). The pension disclosed the trades in a form it filed with the Securities and Exchange Commission.
A Giant Pension Sold Apple, Microsoft, and Intel Stock. Here’s What It Bought. The State of Wisconsin Investment Board made some big changes in some of its largest stock investments in the first quarter, a period marked with volatility brought on by the coronavirus pandemic.
SWIB, as the board is known, manages state trust funds that at the end of 2019 totaled more than $128 billion, 91% of which falls under the Wisconsin Retirement System.
I work a lot with ROS and think driverless car are very close... if they don't want apple and MSFT i do.
New York’s state pension made a big bet on ride-hailing services in the first quarter, which was rocked by a coronavirus-induced market slump.
The New York State Common Retirement Fund quadrupled investments in Uber Technologies (ticker: UBER) and Lyft stock (LYFT) in the quarter, and sold Advanced Micro Devices (AMD) and Nike stock (NKE). The pension disclosed the trades in a form it filed with the Securities and Exchange Commission.
A Giant Pension Sold Apple, Microsoft, and Intel Stock. Here’s What It Bought. The State of Wisconsin Investment Board made some big changes in some of its largest stock investments in the first quarter, a period marked with volatility brought on by the coronavirus pandemic.
SWIB, as the board is known, manages state trust funds that at the end of 2019 totaled more than $128 billion, 91% of which falls under the Wisconsin Retirement System.
I work a lot with ROS and think driverless car are very close... if they don't want apple and MSFT i do.
Crazy day in the market.. i was up 6 figures and left to get a hair cut and get cat food, and i was red when i got back .... MSFT and AQN are my buys for tomorrow, I'm seeing a lot of filings for JPM seem like a good idea if interest rates go negative.
Then you are just slightly in the green, i bough and sold 23,000 AQN and 1000 MSFT today and sold them all at the close, still working on the plan for tomorrow and reading. I like a semi play called NPXI, I drove past a few MCD and they were packed.
Crazy Friday
George Soros Sells PNC
Warren Buffett Buys PNC & Buys Delta Air Lines Inc again.
Bruins I will continue to push up AQN stock in .10 cent intervals and will be a buyer next week, iIsaw the market too a slight haircut in the after market, seems like everyone is talking profits where ever they can get them.
George Soros Sells PNC
Warren Buffett Buys PNC & Buys Delta Air Lines Inc again.
Bruins I will continue to push up AQN stock in .10 cent intervals and will be a buyer next week, iIsaw the market too a slight haircut in the after market, seems like everyone is talking profits where ever they can get them.
Luckin Coffee Inc ... At 2.59$ ill take a shot and buy back in again with my profits from PNC bank , that's less then my Dragon Drink at Starbucks. This has been a profitable week I'm up 2020 Rolls-Royce Phantom.
Shares in Luckin Coffee Inc slumped almost 40% to a record low in premarket trade on Wednesday, as they resumed trading after more than a month's halt and a day after the Chinese coffee chain said it received a delisting notice from Nasdaq.
Luckin Coffee said on Tuesday that Nasdaq had notified the company of plans to delist it from the U.S. stock exchange, a month after the company disclosed that some employees had fabricated sales accounts.
The coffee chain's stock, which has lost more than 90% of its value this year, fell to a low of $2.69 in premarket trade on Wednesday, a far cry from its peak of $51.38 in January.
Nasdaq's notice comes as the exchange renews its focus on auditing standards. This week it tightened listings rules, hoping to curb initial public offerings of Chinese companies closely held by insiders and opaque about accounting, Reuters reported.
In its delisting notice, the bourse cited public interest concerns raised by the fabricated transactions and Luckin's failure to disclose material information.
"The type of scandal in our opinion is too severe to allow the company to be listed on the U.S. stock market," Zephirin Group analyst Lenny Zephirin told Reuters.
Luckin, a rival to Starbucks in China, plans to challenge the move before a Nasdaq hearing panel, and will remain listed until the outcome, which is most likely within two months.
Zolidis forecasts that the company will have to start closing stores, which will do further damage. Luckin was incorporated in 2017 and by 2019 had grown to 2,370 wholly owned stores in 28 cities.
Shares in Luckin Coffee Inc slumped almost 40% to a record low in premarket trade on Wednesday, as they resumed trading after more than a month's halt and a day after the Chinese coffee chain said it received a delisting notice from Nasdaq.
Luckin Coffee said on Tuesday that Nasdaq had notified the company of plans to delist it from the U.S. stock exchange, a month after the company disclosed that some employees had fabricated sales accounts.
The coffee chain's stock, which has lost more than 90% of its value this year, fell to a low of $2.69 in premarket trade on Wednesday, a far cry from its peak of $51.38 in January.
Nasdaq's notice comes as the exchange renews its focus on auditing standards. This week it tightened listings rules, hoping to curb initial public offerings of Chinese companies closely held by insiders and opaque about accounting, Reuters reported.
In its delisting notice, the bourse cited public interest concerns raised by the fabricated transactions and Luckin's failure to disclose material information.
"The type of scandal in our opinion is too severe to allow the company to be listed on the U.S. stock market," Zephirin Group analyst Lenny Zephirin told Reuters.
Luckin, a rival to Starbucks in China, plans to challenge the move before a Nasdaq hearing panel, and will remain listed until the outcome, which is most likely within two months.
Zolidis forecasts that the company will have to start closing stores, which will do further damage. Luckin was incorporated in 2017 and by 2019 had grown to 2,370 wholly owned stores in 28 cities.
