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GE Reports Earnings Wednesday. Heres What To Expect. -- Barrons.com
1:36 PM ET 10/26/20 | Dow Jones
By Al Root
Stock of iconic U.S. industrial conglomerate General Electric is on fire. Shares are in a stealth bull market -- up 21% over the past month. That's good news for holders. But it is a sign of higher investor expectations going into quarterly earnings.
And there are a lot of questions for GE (ticker: GE) investors, going into earnings, ranging from the health of the commercial aerospace industry to the health of the overall industrial economy along with the state of GE's continuing restructuring efforts.
The company reports numbers Wednesday, Oct. 28, before the market opens for trading. Here's what to watch for, along with some recent history.
-- Wall Street expects a loss of 4 cents per share on $18.7 billion in sales. Estimates haven't moved much over the past month.
-- Last quarter, GE lost 15 cents a share from $17.8 billion in sales. Last year, in the third quarter, GE earned 5 cents per share on $23.4 billion in sales.
-- Earnings are important, but many investors will be more focused on cash flow at the industrial giant. The company burned through roughly $3 billion in cash flow during the first half of 2020. Analysts expect about $1 billion of cash burn in the third quarter. The fourth quarter is typically a stronger cash-generation quarter for the company and analysts predict about $2.7 billion in free cash flow during the last three months of the year.
-- UBS analyst Markus Mittermaier believes the company will do a little better than that in 2020. He is also ahead of his peers regarding GE free cash flow for 2021 and 2022, with respective estimates for $2 billion and $6 billion. Average estimates are for $1.2 billion and $3.8 billion, respectively. "Turnaround delayed but not canceled," wrote Mittermaier in a recent report. He believes the overall corporate turnaround plan, being led by relatively new CEO Larry Culp, will still benefit investors, even though Covid-19 hit the company hard, making 2020 far more difficult than originally envisioned. He rates GE stock at Buy with a $9 price target.
-- Commercial aviation has been hammered by the global pandemic. U.S. air travel dropped 60% year over year this past Sunday. Fewer people on planes means fewer planes demanded and less service work for GE to perform on its engines. GE's commercial aviation business is the company's largest, most profitable, unit.
-- Investors will want to hear about aircraft utilization rates when GE reports numbers. They will also want to hear about new airline safety protocols as well as how a vaccine might impact demand for air travel.
"Investors appear to be ready to buy [aerospace] on a vaccine," wrote J.P. Morgan analyst Stephen Tusa in a recent report. "But our [GE] estimates already reflect a material recovery in air traffic." He remains cautious, telling clients to avoid shares. He rates GE stock at Hold and doesn't have a price target. His most recent GE target price was $5 a share.
-- Bank of America analyst Andrew Obin is more optimistic on the stock, but is still wary of coronavirus. He points out industrial metrics, such as global purchasing manager indexes, are rising. He worries, however, rising Covid-19 cases might derail or delay the industrial recovery.
Still, Obin rates GE shares at the equivalent of Buy and has an $11 price target.
-- Analysts on the GE earnings conference call will also check in on the Boeing (BA) 737 MAX. That plane has been grounded worldwide since mid-March 2019 following two deadly crashes. GE makes the engines for the jet. Boeing believes it can get regulatory permission to return the plane to commercial service by year-end. GE when asked, often times, refers investors back to Boeing when asked about the MAX. Boeing reports earnings Wednesday morning, as well.
-- Options markets imply about a 5% move, up or down, for GE stock when earnings are reported. That's in line with recent earnings-induced stock volatility. Shares have moved roughly 6%, on average, over the past five quarterly reports.
GE stock is down about 33% year to date, trailing behind comparable returns of the S&P 500 and Dow Jones Industrial Average. But GE stock has performed similar to other large commercial aerospace supplier stocks Barron's tracks.
Had to read over that newsletter 3 times to really get it. Highly recommend you'll do the same!
James C DiPrima
Oh my gawd!!! You can't say that or 'someone' on here will scratch your eyes out. SMH! Take it back.
Good evening RB'ers! As I continue to stay abreast of the comments being made from both sides of the fence, I hope we all realize that with the serious lack of communication from management, that everything being said here is purely speculative (with some hopes and doubts attached).
With that being said, I do have one thing that keeps popping up in my mind. As we weight for the 10Q to be filed so we can really see what's been happening, we need to take into account what, not just the suspension, the fact that RB touted the disinfectant as being EPA registered (instead of the main ingredient being registered - leading to suspension) and what affect that 'misrepresentation' MAY have had on existing and/or future contracts. Contractual language is huge! Integrity may have been at stake here.
I believe this should be a legitimate concern for us S/H's in terms of revenue.
I put an order in for 150K and they're filling it 10K at a time...SMFH!!!
Ask and you shall receive...175K of 500K, keep 'em coming!
Wisconsin is a hot bed! Whoever they're using (if anyone) isn't getting it done. They need reinforcements ASAP!!! RB, don your cape and make it happen...
I tried 41's, 42's, and now I'm trying 43's. There has to be a hero out there somewhere...will you please stand up!
Good morning. Can someone please sell me 500K at the current PPS? Thanks in advance for your patriotism!
You think that deadline may be in the back of people's minds and that's why the news yesterday didn't bite?
New here (1 wk). Doesn't look like we'll see $1 PPS for 10 consecutive days by 2NOV.
250K @ $.0041. Yehhhaaaaa! All about risk vs. reward!
GreenPower Adds ABC Bus as Authorized Dealer in NY Market
September 30 2020 - 08:30AM
PR Newswire (Canada)
Agreement Provides for 100 GreenPower Vehicles to Be Purchased by ABC Over Next 36 Months; Partnership to Capitalize on Lucrative Funding for Zero-Emission Vehicles in NY State; Deliveries to Start in 2020
LOS ANGELES, Sept. 30, 2020 /CNW/ -- GreenPower Motor Company Inc. (NASDAQ: GP) (TSXV: GPV) ("GreenPower"), a leading manufacturer and distributor of zero emissions electric powered medium and heavy-duty vehicles, today announced a formal dealership agreement with ABC Bus, Inc. ("ABC") that will cover the State of New York. The agreement provides for 100 vehicles to be purchased by ABC over the next 36 months including the purchase of two EV Stars within thirty days.
ABC was founded in 1950 and has 10 locations with over 500 employees across the United States. GreenPower and ABC are poised to capitalize on the various funding programs across the state of New York including the clean trucks NYSERDA program and the New York Voucher Incentive Program which provides incentives for up to $100,000 of the purchase price for Class 4 battery electric trucks and transit buses and up to $90,000 of the purchase price for Class 4 battery electric school and shuttle buses.
"The State of New York has set an ambitious goal of being carbon neutral by 2050. Transportation is the low hanging fruit and New York can immediately begin making progress towards this goal by deploying GreenPower zero emissions vehicles within their fleets," stated Brendan Riley, President of GreenPower. "By partnering with ABC in this territory, our future customers will be taken care of by one of the most respected transportation solutions providers in the country. We are excited to hit the ground running with initial deliveries beginning this year and expected to accelerate thereafter in early 2021."
Part of the NYSERDA and the New York Voucher Incentive Programs require a physical location and service support component to be eligible to access funding. After several months of working through the logistics of bringing on a new dealer for this territory, GreenPower and ABC are ready to begin aggressively pursuing this market.
https://ih.advfn.com/stock-market/NASDAQ/greenpower-motor-GP/stock-news/83333964/greenpower-ev-star-selected-as-an-eligible-vehicle
GreenPower EV Star Selected as an Eligible Vehicle by CalACT
September 25 2020 - 09:00AM
PR Newswire (Canada)
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LOS ANGELES, Sept. 25, 2020 /CNW/ -- GreenPower Motor Company Inc. (NASDAQ: GP) (TSXV: GPV) ("GreenPower"), a leading manufacturer and distributor of zero emissions electric powered medium and heavy duty vehicles, announces that GreenPower's EV Star has been selected as an eligible vehicle for the Morongo Basin Transit Authority ("MBTA") and California Association for Coordinated Transportation ("CalACT") purchasing cooperative RFP for zero emissions shuttles. This two-year contract allows CalACT members, including transit authorities, other public agencies and non-profits assigned by MBTA, to purchase up to 150 zero-emission vehicles per year. GreenPower's dealer Creative Bus Sales is only one of four dealers, representing select models of electric shuttles, including GreenPower's EV Star, that are qualified to sell under the contract.
CalACT/MBTA provides a California State compliant purchasing solution that allows transit properties to meet their procurement needs and get the vehicle they want in an expedited purchasing cycle that does not require a lengthy RFP process. GreenPower's EV Star is the only vehicle out of several all-electric vehicles that are eligible for purchase under the contract that has been Altoona tested and can be built under Buy America Compliance.
"Our Award is in the entirely new category that requires purpose built, from the ground up, medium duty battery electric buses. Also, the process to get on the purchasing cooperative is lengthy because CalACT wants to confirm that vendors are doing exactly what they represent to the industry. This process included a factory tour to ensure that our processes are in line with industry wide best practices. GreenPower's quality assurance programs were rigorously reviewed by some of the industry's most notable transit professionals and we passed with flying colors," stated Brendan Riley, President of GreenPower. "This is where our EV Star being made under Buy America Compliance and having passed Altoona becomes a significant competitive advantage. We are optimistic that GreenPower's inclusion in this contract will drive increased demand for the EV Star from a host of buyers that use this type of contract to purchase all of their vehicles."
On September 23, 2020 Gavin Newsom, the Governor of the State of California, signed executive order number N-79-20 directing the Air Resource Board to develop medium and heavy-duty vehicle regulations requiring increasing volumes of new zero-emission trucks and buses sold and operated in California towards the target of 100% zero-emission vehicles by 2045. The Executive Order also requires a Zero-Emissions Vehicle Market Development Strategy by January 31, 2021.
Riley continued, "The executive order signed by Governor Newsom will act as a massive catalyst for EV adoption across California and will likely serve as a template for other states to follow. The recent California wildfires have stirred the debate on the need to accelerate the adoption of EV for the benefit of the climate. This action by Governor Newsom is a clear indication that the support of a transition to zero emission transportation solutions is a major priority for the state."
EV Startup XL Fleet Isnt Nikola. It Has Sales. -- Barrons.com
6:29 AM ET 9/23/20 | Dow Jones
By Nicholas Jasinski and Al Root
Electric vehicles are on a hot streak. Stock in Tesla, the EV behemoth, is up more than 400% year to date, and startups hoping to be the next Tesla have raised billions in capital. Now another EV company is raising money, but this one has a different approach from many of its peers.
On Friday, XL Fleet announced plans to merge with Pivotal Investment Coroporation II (ticker: PIC), a special purpose acquisition company, or SPAC. The companies expect their combination to close by the end of 2020, at which point Pivotal shares will convert to shares in XL Fleet, under the ticker XL.
Pivotal stock has surged over 20% since Thursday's close.
It's the latest of several SPAC deals with companies focused on electric and alternative-fuel transportation this year. Nikola (NKLA) merged with VectoIQ in June.
Other announced deals include Hyliion merging with Tortoise Acquisition (SHLL); Fisker merging with Spartan Acquisition (SPAQ); Lordstown Motors with DiamondPeak (DPHC); and Canoo merging Hennessy Capital Acquisition (HCAC). That quartet is focused on vehicles. QuantumScape is merging with Kensington Capital Acquisition (KCAC). QuantumScape makes next-generation EV batteries.
Private players appear to prefer SPACs these days because it allows for a faster time to market -- and certainty of cash proceeds.
Each of these EV companies has a slightly different approach, though with some overlap The market, however, is growing fast enough for all to benefit in the near term, says Tod Hynes, founder and chief strategy officer of XL Fleet. Hynes passed the CEO reins to Dimitri Kazarinoff, a former executive at Eaton (ETN), in October 2019.
"The biggest competitor is the status quo," Hynes told Barron's. "I think we're all competing against diesel and gasoline, and that is a massive, massive opportunity for plenty of companies to make a lot of money in this transition to electrification."
XL Fleet, for its part, is focused on electrifying class 2 to 6 trucks. It's a commercial vehicle strategy similar to that of Workhorse (WKHS). Many, including Hynes, believe electric commercial vehicles make sense because they can drive all day on one battery charge and recharge in a central fleet location at night.
XL, unlike Workhorse, doesn't manufacture full vehicles. Instead, it adapts its electric powertrain systems to existing products. That is similar to Hyliion, but Hyliion is focused on larger, class 8 trucks.
Class 8 trucks are familiar to U.S. drivers -- and investors. Those are the big rigs driving down highways manufactured by companies such as Paccar (PCAR). Smaller classes of trucks, like the ones XL is focused on, include vehicles such as school buses and delivery vans.
XL is a little different than Hyliion, Workhorse, and even Nikola for another critical reason: sales. Those three commercial vehicle peers don't generate substantial sales yet. But XL Fleet had revenues of $7.2 million last year, which it expects to triple to $21 million in 2020, growing to $75 million next year.
The company is targeting a 6% share of the class 2 through 8 commercial vehicle market in North America in 2024. It estimates that would translate to about $1.4 billion in sales and $308 million in Ebitda, short for earnings before interest, taxes, depreciation, and amortization.
Pivotal, the existing, publicly traded company, raised $230 million in an initial public offering in July. The SPAC's sponsors are Jon Ledecky -- chairman of Ironbound Partners and a co-owner of the NHL's New York Islanders -- and Kevin Griffin of MGG Investment Group, a lower- and middle-market-focused direct lender. Both have had experience with SPACs in the past -- some successful in the long term, some not.
The deal with Pivotal values XL Fleet at just under $1.1 billion -- or 3.5 times its forecast 2024 Ebitda -- and includes a $150 million private investment in public equity, or PIPE. After expenses, the company should be left with roughly $350 million in cash on its balance sheet. Existing XL Fleet investors are rolling over their entire stakes, and will own about 70% of the combined public company. SPAC shareholders, PIPE investors, and Pivotal's sponsors will hold the rest.
Pivotal stock is trading at $13 a share, valuing the company at roughly $1.9 billion based on 144 million shares outstanding when the deal closes. Workhorse, for comparison, has a market cap of about $3 billion. Hyliion is worth about $8 billion.
"This transaction really enables us to leverage the lead that we have established in this industry in terms of having thousands of vehicles on the road and more than 130 million miles driven by customers," says Hynes. "It enables us to move a lot more quickly to bring new products to market and to scale the installation capacity that we've developed."
XL Fleet plans to direct the deal proceeds to invest in product development, an international expansion, and potential acquisitions down the road, among other uses.
Wow!!! Bold statement. Still trying to understand why this is still be touted.
Our EPA Registered Disinfectant Is Specially Formulated For Use With A HVLP/ULV Sprayer
I know that Amazon gets its electric delivery trucks from them. They are private and rumored to be looking at doing an IPO.
https://rivian.com/
No, not Rivian.
Yeah, but look at (b)(3). I don't think the reason for suspension was that egregious that RB can't come back from it.
(b)(3) Provide any material information, including adverse information regarding the Issuer, that
your firm is aware of or has in its possession. (Do not list information already provided in
Part 2.) If your firm does not possess such information, state “None” below.
How they pay for the plant will be very telling.
Quarterly report will be huge, new huge bottling plant opening shortly
They say that
FINRA reviews and comments on the filing in a back-and-forth process that can take several weeks or even months
can
I honestly don't see it being that difficult. The requirements seem pretty straight forward. You have to admit, MM's are missing out on a lot of money not being able to quote a ticker like this one with so much attention. Just need one of them to stand up and be recognized.
double_m Saturday, 09/12/20 10:04:19 AM
Re: None 0
Post #
108924
of 110220
For stocks that are quoted in the OTC market (e.g. stocks quoted on DBOT ATS, Global OTC ATS, and OTC Link ATS, among other venues), quoting does not automatically resume when a ten-day suspension ends. Before OTC stock quoting can resume after a suspension period, SEC regulations require a broker-dealer to review specific information about the company in accordance with Exchange Act Rule 15c2-11 and FINRA Rule 6432. If a broker-dealer does not have confidence that a company's financial statements are reasonably current and accurate in all material respects, especially in light of the questions that may have been raised by the SEC suspension action, then a broker-dealer may not publish a quote for the company's stock. The OTC markets function through dealer systems where only broker-dealers may quote and facilitate trading in OTC stocks.
Rule 15c2-11 requires market makers
to review basic issuer information prior to publishing quotations
for that issuer's securities. Market makers must have a
reasonable basis for believing that the information is accurate
and from reliable sources. The Rule describes the kind of
information that the broker-dealer must review.
FINRA Rule 6432 – Compliance with the Information Requirements of SEA Rule 15c2-11
Subject to certain exceptions, including the “piggyback exception” discussed below, Rule 6432 requires that all broker-dealers have and maintain certain information on a non-exchange traded company security prior to resuming or initiating a quotation of that security. Generally, a non-exchange traded security is quoted on the OTC Markets. Compliance with the rule is demonstrated by filing a Form 211 with FINRA. Although the rule requires that the Form 211 be filed at least three days prior to initiating a quotation, in reality FINRA reviews and comments on the filing in a back-and-forth process that can take several weeks or even months.
The specific information required to be maintained by the broker-dealer is delineated in Securities Exchange Act (“Securities Act”) Rule 15c2-11. The core principle behind Rule 15c2-11 is that adequate current information be available when a security enters the marketplace. The information required by the Rule includes either:
(i) a prospectus filed under the Securities Act of 1933, such as a Form S-1, which went effective less than 90 days prior; (ii) a qualified Regulation A offering circular that was qualified less than 40 days prior; (iii) the company’s most recent annual reported filed under Section 13 or 15(d) of the Exchange Act or under Regulation A and quarterly reports to date; (iv) information published pursuant to Rule 12g3-2(b) for foreign issuers (see HERE); or (v) specified information that is similar to what would be included in items (i) through (iv).
Oh, ok. Good to know. So RB just needs to fly right and eventually she can get back in the game.
I'm loading the boat for the ride as soon as it happens. Either way, I'm way green on this play so I'm already 'planned' for the worst and just hoping for the best!
Jury's still out on that one. I choose to be, like most here, cautiously optimistic...
Not disputing that. Also means that they didn't find it worth the effort to refute what the SEC was saying. Either way, it is what it is...hopefully just a minor (or major) setback.
No, they didn't. Here is a breakdown of their findings, in case you haven't seen the document as yet. RBII submitted their petition prior to this coming out, and subsequently withdrew it...indicating they conceded and decided to focus their energy elsewhere. Honestly, I'm not sure what the next step is, if there is one.
https://www.sec.gov/litigation/apdocuments/3-19940-2020-09-08-information-before-the-commission-at-the-time-of-the-trading-suspension.pdf
They are NOT negotiating with SEC! They are working with broker(s)...like the FINRA and SEC rules require them to do. Do your research.
I believe 10K is due 31DEC. It would make absolute sense to have the financials audited...imagine that!!!
If it's any consolation, I understand exactly what you are saying it looks like.
News out:
BRK Completes Restructuring and Materially Increases Shareholder Participation in Project Phoenix
12:54 PM ET 9/16/20 | Dow Jones
HENDERSON, Nev., Sept. 16, 2020 /PRNewswire/ -- BRK, Inc. (the "Company") (OTC: BRKK) is pleased to inform its shareholders that the final step of its corporate restructuring has been achieved with the creation of PCS Inc. -- Phoenix Custom Silicon Incorporated.
PCS has been incorporated as a private company in the state of Nevada, and is envisioned to serve as an investment vehicle for joint venture and other potential large-scale investment collaborations pertaining to the previously announced advanced chip initiative, Project Phoenix. All development of Project Phoenix will proceed within BRK, and any co-investment via PCS Inc., aimed at increasing business development and operational scale will see BRK shareholders participate on a pro rata basis determined by their stake in BRK. This negates and voids previous plans to award BRK shareholders 10% equity in the Project Phoenix related chip business. As such, it is expected that should co-investment discussions already under pursuit materialize, shareholders of BRK as a whole would be expected to own at least 50% or more of PCS with individual pro rata shareholdings of PCS dependent on the % of shares owned in BRK. Management believes this to be a very positive development for BRK shareholders and looks forward to securing a material initial investment partner for PCS Inc. by the end of 1Q 2021 or earlier. Furthermore, management has secured initial indications of support in obtaining significantly greater, institutional level investment from tier one banking clients should initial funding and proof of commercialization offer a sufficient minimal revenue baseline for Project Phoenix and PCS Inc.
We thank our shareholders for their continued loyalty and support and look forward to executing on our exciting strategic roadmap over the course of 2020 and throughout 2021 and beyond.
BRK Inc. (OTC PINK: BRKK), established in 2008, BRK is the next generation in live-action broadcasting technology. We are a full-service provider geared to professional leagues and athletes, whether it be traditional sports, extreme sports or esports, and that will allow fans to watch them in action from perspectives that do not exist today. Our niche is that we are a second screen content provider that does not pose a threat to first screen media but rather we provide the opportunity to pioneer complimentary content and campaigns. In addition to the above, Gen 2 technology is being developed for applications in security, law enforcement and other industrial verticals.
All,
Keep the ground-truth analysis and discourse going here. It seems support from the folks reading this board alone have a great affect on the success of this company's stock. Let's hope RB continues to reciprocate.
$RBII long!
I'm not the one with concerns. That was my attempt at clearing up a concern someone else had. I just read a lot more carefully, that's it. Some people know how to read, but don't know how to 'read for comprehension'.
best for you to send an email to the company with ALL your concerns and we'd be happy to learn the reply..
https://www.sec.gov/litigation/apdocuments/3-19940-2020-09-08-information-before-the-commission-at-the-time-of-the-trading-suspension.pdf
Not sure if you've seen this document. Art dropped the PR you referenced after the SEC released their findings (evidence/claims).
I agree with you, OXY-Thyme and this new bactericide is what matters now.
Yeah, but I'm just remembering that Oxyblast 50 isn't the issue, it's OxyThyme that got us peepee smacked.
Wow! Not sure if this was brought up on this board before. This is very interesting.
https://search.epa.gov/epasearch/?querytext=89883-2&areaname=&areacontacts=&areasearchurl=&typeofsearch=epa&result_template=2col.ftl#/
A lot of folks joining the conversation that haven't been around to see how this whole saga played out. If they had that background info, they would understand better. Not a reasonable request to have them go back and read 1,000+ posts...I guess.