Day: April 8, 2021

TRNF – Taronis Announces Settlement Agreement With Shareholder Group

Resolves Consent Solicitation, Delaware Litigation and Other Matters

Five New Shareholder Designees Appointed to Board

Peoria, AZ, April 08, 2021 (GLOBE NEWSWIRE) — Taronis Fuels, Inc. (“Taronis” or “the Company”) (OTCQB:TRNF), a global producer of renewable and socially responsible fuel products, today announced it has reached a settlement agreement with Thomas Wetherald and Tobias Welo (together, “the Concerned Shareholders”), who together own approximately 11.1% of outstanding shares of Taronis, to end the consent solicitation initiated by the Concerned Shareholders and resolve other matters involving the parties. Under the agreement, Taronis immediately will expand the size of the Board to six directors, including the Concerned Shareholders’ five designees and one incumbent director, Peter Molloy.

“We are pleased to have reached an agreement that we believe is in the best interests of all Taronis shareholders and sets us on a path forward,” said Peter Molloy, incumbent member of the Taronis Board of Directors.

“We look forward to serving on the Board and sharing our perspectives and insights,” said Thomas Wetherald. “We believe U.S. retail and wholesale industrial gas distribution offers significant growth opportunities, and we are highly focused on helping to ensure the Company reaches its full potential in this exciting space.”

The appointees to the Taronis Board include Thomas Wetherald, Tobias Welo, Andrew McCormick, Mary Pat Thompson and Sergey Vasnetsov. The Board intends to reconstitute membership and chairmanships on the Nominating and Governance Committee, Compensation Committee and Audit Committee.

About the Newly Appointed Directors

Thomas Wetherald, 50, served as the Chief Financial Officer of Laird Superfood, an emerging consumer products platform focused on manufacturing and marketing highly differentiated plant-based and functional foods, from January 2018 until April 2019, and as Co-CFO from April 2019 through June 2019. Mr. Wetherald has served on Laird Superfood’s Board of Directors since 2017 and served as Chairman of the Board from June 2019 through September 2020. Prior to joining Laird Superfood, Mr. Wetherald operated as an independent money manager. Mr. Wetherald was also an Equity Analyst, from 2002 to 2005, and Small-Cap Growth Portfolio Manager, from 2005 to 2015, at Massachusetts Financial Services from 2002 through 2015. Prior to joining Massachusetts Financial Services, Mr. Wetherald worked as Research Assistant, Associate and Equity Analyst at Manning & Napier from 1995 through 2002 and at Chase Manhattan Bank from 1993 through 1995. Mr. Wetherald graduated from St. Lawrence University.

Tobias Welo, 48, is the CEO and Founder of Artful Jaunts, LLC, a travel company which offers trips focused on luxury art experiences. Mr. Welo served as a director of Taronis during December 2020. Before founding Artful Jaunts, from 2005 to 2018 Mr. Welo served as sector leader at Fidelity Management & Research (FMR) for industrials and materials, which included chemicals and industrial gases, and as a portfolio manager of the materials fund, which included in-depth coverage of the industrial gas sector. Before joining FMR, Mr. Welo served as a director, equity analyst/portfolio manager at Blackrock from 2002 to 2005. Mr. Welo earned a B.A. from Pomona College and an MBA from the Wharton School at the University of Pennsylvania and is a chartered financial analyst.

Andrew McCormick, 35, has served as General Counsel and Secretary of Laird Superfood since February 2019. Prior to joining Laird Superfood, Mr. McCormick was a Senior Associate at the Denver office of Hogan Lovells US LLP, where he advised clients on capital markets and M&A matters from 2014 to 2019. From 2011 to 2013 Mr. McCormick was an associate at Latham & Watkins (London), LLP, where he advised issuers and investment banks in global capital markets transactions. Mr. McCormick holds a B.A. with distinction from Hendrix College in Conway, Arkansas, a J.D. from Columbia University in New York, and an LLM from the London School of Economics in the UK.

Mary Pat Thompson, 58, has served as a consultant at Bruckmann, Rosser, Sherrill & Co., a private equity firm, since 2019. Ms. Thompson previously served as Chief Financial Officer and Treasurer of Taronis from November 2020 to December 2020 and as a director of Taronis during December 2020, and as Senior Vice President of Finance and Administration and Chief Financial Officer of MWI Animal Health from August 2005 through her retirement in October 2018, with oversight of finance, inventory management, information technology, and human resources. Ms. Thompson also served as Vice President, Secretary and Chief Financial Officer of MWI Animal Health from June 2002 to August 2005. Since 2015 she has served on Zion’s Bank Business Advisory Board and the San Francisco Reserve’s 12th District Economic Advisory Council, where she was Chairperson for 2019. Additionally she serves on the boards of Regence Blueshield of Idaho and the University of Idaho’s College of Business and Economics Advisory Board, and served on the board of H&E Equipment Services until March 31, 2021, and is past President of the American Veterinary Distributers Association and the 2019 recipient of the Sundance Film Festival Women’s Leadership Award. Ms. Thompson graduated Summa Cum Laude from the University of Idaho with a B.S. in accounting and is a licensed Certified Public Accountant in Idaho.

Sergey Vasnetsov, 57, is currently an independent consultant and previously served as Senior Vice President, Strategic Planning & Transactions at LyondellBasell, one of the world’s largest plastics, chemical and refining companies, from August 2010 through May 2016. Before joining LyondellBasell, Mr. Vasnetsov was Managing Director of Equity Research, head of Global Chemicals Research at Barclays Capital, and a predecessor firm from 1999 to 2010. Earlier in his career, Mr. Vasnetsov spent 10 years in academic and industrial chemical research and development.

Forward-Looking Statements

This press release contains forward-looking information about TRNF within the meaning of the Private Securities Litigation Reform Act of 1995 and other federal securities laws. Any statements contained herein which do not describe historical facts, including, among others, beliefs about the industrial gas and welding supply industry, TRNF’s business and potential are forward-looking statements which involve risks and uncertainties that could cause actual results to differ materially from those discussed in such forward-looking statements.

Such risks and uncertainties include those risks identified in TRNF’s filings with the SEC, including its Annual Report on Form 10-K for the year ended December 31, 2019, its Quarterly Reports on Form 10-Q for the quarters ended March 31, 2020, June 30, 2020 and September 30, 2020 and subsequent filings with the SEC which are available at the SEC’s website at www.sec.gov. Any such risks and uncertainties could materially and adversely affect TRNF’s results of operations, its profitability and its cash flows, which would, in turn, have a significant and adverse impact on TRNF’s stock price. TRNF cautions you not to place undue reliance on any forward-looking statements, which speak only as of the date they are made. TRNF disclaims any obligation to publicly update or revise any such statements to reflect any change in expectations or in events, conditions or circumstances on which any such statements may be based, or that may affect the likelihood that actual results will differ from those set forth in the forward-looking statements.

About TRNF

Taronis Fuels, Inc. is a global producer of renewable and socially responsible fuel products. Our goal is to deliver environmentally sustainable, technology driven alternatives to traditional fossil fuel and carbon-based economy products. We believe our products offer a vastly cleaner solution to legacy acetylene and propane alternatives.

Taronis is also dedicated to providing fundamentally safer solutions to meet the industrial, commercial and residential needs of tomorrow’s global economy. Our products have been rigorously tested and independently validated by global gas authorities as vastly safer than acetylene, the most dangerous industrial gas in use today.

Lastly, we strive to deliver products that offer significant function superiority at a reduced cost to the end consumer. Through these efforts, we support 9 of the 17 United Nations Sustainable Development Goals. For more information, please visit our website at www.taronisfuels.com.

Taronis Fuels Contacts:

Investors:

Taronis Fuels
ir@taronisfuels.com

or

MacKenzie Partners, Inc.
Bob Marese/Larry Schimmel
212-929-5500
Proxy@mackenziepartners.com

Media:

Reevemark
Paul Caminiti/Pam Greene
(212) 433-4600
Taronis@reevemark.com

PRIEF – Paleo Resources Announces Receipt of Debenture Repurchase Notices and Proposed Shares for Debt Transaction

CALGARY, Alberta, April 08, 2021 (GLOBE NEWSWIRE) — Paleo Resources, Inc. (“Paleo” or the “Corporation”) (TSX-V: PRE, OTCQB: PRIEF) announced today that the holders of the Corporation’s outstanding 2019 debentures in the aggregate principal amount of CDN$2,682,799 (the “Debentures”) have provided notice to require the Corporation to repurchase all amounts outstanding under the Debentures, in accordance with the terms of such Debentures. The Debentures provide the holders with the right, upon at least 30 days written notice prior to the date that is two (2) years following the original issuance date of such Debentures (the “Repurchase Date”), to require the Corporation to repurchase all amounts outstanding under the Debentures on such Repurchase Date, at a repurchase price equal to 115% of the outstanding principal amount of the Debentures, together with payment of the interest on the principal amount accrued and unpaid to the Repurchase Date. For further information regarding the Debentures, please refer to the Corporation’s news releases ‎dated May 13, 2019, June 5, 2019 and July 25, 2019.

The total principal amount of the indebtedness due as a result of the repurchase notifications is CDN$3,085,218.75 (the “Repurchase Indebtedness”) of which CDN$2,341,681.75 is due on June 5, 2021 and CDN$743,537 is due on July 25, 2021. The Corporation intends to pay in cash all interest due and owing on the Debentures on the respective Repurchase Dates.

Paleo also announced that it intends to settle a total of CDN$2,675,169.10 of the Repurchase Indebtedness through the issuance of an aggregate of 89,172,303 common shares of the Corporation at a deemed price of CDN$0.03 per share (the “Debt Settlement”), subject to approval of the TSX Venture Exchange. The common shares issued in connection with the Debt Settlement will be subject to a hold period of four months from the date of closing.

Roger S. Braugh, Jr. (“Braugh”), a director and officer of Paleo, is the holder of CDN$371,769 of the Repurchase Indebtedness and Chris Pettit & Associates PC, controlled by Christopher J. Pettit, a director of Paleo, as trustee of a Trust (the “Trust”), is the holder of CDN$371,769 of the Repurchase Indebtedness, which would be settled through the issuance of 12,392,285 Common Shares to each at a deemed price of CDN$0.03 per share.

The remaining portion of Repurchase Indebtedness not settled pursuant to the proposed Debt Settlement in the aggregate amount of CDN$410,049.65 is owed to a third party, who has each to extend the due date for payment of the remaining outstanding Repurchase Indebtedness to the original maturity date of the Debenture, being June 5, 2022.

As a result of the Debt Settlement, Braugh will hold a total of 147,370,423 common shares and the Trust will hold a total of 133,855,423 common shares, representing 27.55% and 25.03%, respectively, of the total issued and outstanding common shares of the Corporation.

As noted above, Roger S. Braugh, Jr. is a director and officer of Paleo and Christopher J. Pettit, is a director of Paleo and, accordingly, a portion of the Debt Settlement is a related party transaction for the purposes of TSX Venture Exchange Policy 5.9 and Multilateral Instrument 61-101 (the “Related Party Policies”).‎ Paleo ‎has determined that exemptions from the various requirements of the Related Party Policies are available in connection with the Debt Settlement (Formal ‎Valuation – Issuer Not Listed on Specified Markets; Minority Approval – Financial Hardship.).‎

Neither the TSX Venture Exchange nor its Regulation Services Provider (as the term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Paleo Resources, Inc. is an oil and natural gas exploration company with executive offices in San Antonio, Texas. The Corporation’s common shares are listed on the TSX Venture Exchange under the trading symbol “PRE” and on the OTCQB as “PRIEF”.

For further information please contact:

Roger S. Braugh, Jr.
Interim Chief Executive Officer and Chairman of the Board
Email: rbraugh@paleooil.com

Paleo Resources, Inc.
716 S. Frio St. Suite 201
San Antonio, Texas 78207
Telephone: 254-699-0975

Forward Looking Statements

This news release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, included herein are forward-looking information. Generally, forward-looking information may be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “proposed”, “is expected”, “budgets”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases, or by the use of words or phrases which state that certain actions, events or results may, could, would, or might occur or be achieved. In particular, this news release contains forward-looking information regarding the assignment of the loan, the Debt Settlement, and the business of Paleo. There can be no assurance that such forward-looking information will prove to be accurate, and actual results and future events could differ materially from those anticipated in such forward-looking information. This forward-looking information reflects Paleo’s current beliefs and is based on information currently available to Paleo and on assumptions Paleo believes are reasonable. These assumptions include, but are not limited to: the underlying value of Paleo’s common shares, TSX Venture Exchange approval of the assignment of the loan and the Debt Settlement, Paleo’s current and initial understanding and analysis of its projects ‎and the exploration required for such projects; the ‎costs of exploration and drilling on Paleo’s projects; Paleo’s general ‎and administrative costs remaining constant; and the ‎market acceptance of Paleo’s business strategy‎.

Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Paleo to be materially different from those expressed or implied by such forward-looking information. Such risks and other factors may include, but are not limited to: volatility in market prices for oil and natural gas; constraints on sour gas production; the availability of commodity markets and third party equipment, infrastructure and services; liabilities inherent in oil and natural gas operations; uncertainties associated with estimating oil and natural gas reserves; geological, technical, drilling and processing availability, upsets or problems; general business, economic, competitive, political and social uncertainties; general capital market conditions and market prices for securities; delay or failure to receive board or regulatory approvals; the actual results of future operations; competition; changes in legislation, including environmental legislation, affecting Paleo; the timing and availability of external financing on acceptable terms; and lack of qualified, skilled labour or loss of key individuals. A description of additional assumptions used to develop such forward-looking information and a description of additional risk factors that may cause actual results to differ materially from forward-looking information can be found in Paleo’s disclosure documents on the SEDAR website at www.sedar.com. Although Paleo has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. Readers are cautioned that the foregoing list of factors is not exhaustive. Readers are further cautioned not to place undue reliance on forward-looking information as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Forward-looking information contained in this news release is expressly qualified by this cautionary statement. The forward-looking information contained in this news release represents the expectations of Paleo as of the date of this news release and, accordingly, is subject to change after such date. However, Paleo expressly disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities law.

BA – Boeing sues, cancels contracts with Air Force One supplier

FILE PHOTO: A pair of modified Boeing 747 jets which serve as Air Force One presidential aircraft are seen at Joint Base Andrews, Maryland, U.S., July 29, 2020. REUTERS/Carlos Barria/File Photo

WASHINGTON (Reuters) – Boeing Co said Thursday it had filed a suit against and canceled contracts with a Texas-based supplier for Air Force One, the aircraft that carriers the U.S. president, over delays in completing interior work on the two heavily modified 747-8 planes.

The U.S. planemaker said in a statement it had canceled contracts “with GDC Technics … due to their insolvency and failure to meet contractual obligations.” GDC Technics did not immediately respond to a request for comment.

Boeing said in its suit filed in Texas state court on Wednesday the delays “have resulted in millions of dollars in damages to Boeing and threaten to jeopardize work that is of critical importance to the (U.S. Air Force) and the president of the United States.”

The Air Force referred questions to Boeing.

In July 2018, Boeing received a $3.9 billion contract to build two 747-8 aircraft for use as Air Force One, due to be delivered by December 2024. A Boeing spokeswoman said the planemaker still planned to meet the Air Force’s delivery schedule.

GDC, which “agreed to design and build the interior” of the two Air Force One planes, is “roughly one year behind schedule in meeting its contractual obligations,” Boeing said in its suit first reported by Dallas NBC affiliate KXAS-TV.

The Boeing 747-8s are designed to be an airborne White House, able to fly in worst-case security scenarios such as nuclear war, and are modified with military avionics, advanced communications and a self-defense system.

In 2018, then President Donald Trump said the new model Air Force One would have upgraded interiors and a different color scheme from the white and two shades of blue that has been used since President John F. Kennedy’s administration.

In January, White House spokeswoman Jen Psaki said President Joe Biden “has not spent a moment thinking about the color scheme of Air Force One.”

Reporting by David Shepardson; Editing by Karishma Singh

UBER – Uber Won't Let California Drivers Set Their Own Prices Anymore After Rider Cancellations Increased 117%

Topline

Uber will no longer allow drivers in California to set their own prices after rider cancellations increased 117% over the past year, the latest change to Uber’s service following the passage of Proposition 22, which made ride-hailing drivers independent contractors.

Key Facts

In a blog post, Uber said it is removing the ability of drivers to set their own fare multiplier because “over the last few months, 80% of riders matched with a driver with a fare multiplier above 1x declined the higher fare and did not re-request a ride on Uber.”

Uber implemented the feature last year in an effort to show that drivers were independent enough to be classified as contractors instead of employees.

For riders, Uber will no longer show an estimated price range before requesting a ride, meaning the app will only show a single upfront price.

Uber was reportedly considering nixing a feature that lets drivers in the state see destinations before they accept a ride, the San Francisco Chronicle reported, but that will remain the place for now.

Crucial Quote

“We’ve seen that most riders are simply not taking trips with fare multipliers above 1x or without an upfront price. As California reopens, we need to make changes so all drivers can get more trip requests and riders can count on getting a ride when they request one,” the company said in the blog post.

Key Background

 The question of how much control ride-hailing companies have over their drivers was central to determining whether they are employees under a California law called AB-5 that was passed in 2019 in an effort to make app-based drivers employees, but Uber argued in court that since drivers could set their own prices and see destinations, they were truly independent. But with the passage of Prop. 22, the recently passed state ballot measure keeping gig workers independent contractors, Uber no longer needs to demonstrate how little control it has over drivers.

AMZN – Report: Two Amazon Grocery Stores To Open In Washington, DC Area

Two brick-and-mortar Amazon grocery stores are near opening in the Washington, D.C. region. The retailer unveiled plans to bring part-time and full-time workers onboard at the locations, WTOP reported.

One location is close to opening in the Franconia area of suburban Virginia, while another store is near opening in the Logan Circle area of the District of Columbia, WTOP reported. An Amazon representative confirmed the locations to WTOP but would not say when the stores would open or identify their format.

The Logan Circle store will be branded as Amazon Go, according to WTOP, which cited the Washington Business Journal, while the Franconia store will be branded as Amazon Fresh.

As it stands, Amazon has two physical bookstores in the District of Columbia region, WTOP reported. They are located in Bethesda and Georgetown. Moreover, Amazon has four Amazon Fresh locations in the vicinity of Chicago and eight Amazon Fresh supermarkets in California.

As PYMNTS reported in August, Amazon was set to open a Los Angeles supermarket that would showcase the next generation shopping cart.

At the time, it was noted that the Woodland Hills Amazon Fresh store was the first of seven supermarkets that Amazon had in the works for California and Greater Chicago. Shoppers were to get a look at the “Dash Cart,” which lets them choose and fill two supermarket bags and skip checkout lines via a special lane.

Even though it might have the appearance of a usual shopping cart, it uses cameras, sensors and a display screen that monitors orders and takes the amount due from a connected credit card.

As PYMNTS previously noted, grocery is a very large retail segment, with $658.1 billion in annual sales projected for this year.

Even so, its growth as an industry has been mostly flat since approximately 2016 — an average annualized growth of 0.5 percent from 2016 to 2020. Grocery stores fight hard for the consumer’s share of the wallet in their local markets.

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NEW PYMNTS STUDY: OPEN BANKING 2021 

About The Study: Open banking-powered payment offerings have been available in some markets since 2018, but the pandemic drove many consumers to try these solutions for the first time — and there’s no going back. In the Open Banking Report, PYMNTS examines open banking’s rise as merchants and payment services providers worldwide tap into such options to offer secure, seamless account-to-account payments.

PRIM – Primoris Services (PRIM) Stock Sinks As Market Gains: What You Should Know

Primoris Services (PRIM Free Report) closed at $33.44 in the latest trading session, marking a -0.24% move from the prior day. This change lagged the S&P 500’s 0.42% gain on the day.

Coming into today, shares of the construction contractor had lost 9.65% in the past month. In that same time, the Construction sector gained 9.2%, while the S&P 500 gained 6.32%.

PRIM will be looking to display strength as it nears its next earnings release.

PRIM’s full-year Zacks Consensus Estimates are calling for earnings of $2.46 per share and revenue of $3.8 billion. These results would represent year-over-year changes of +9.82% and +8.95%, respectively.

Investors should also note any recent changes to analyst estimates for PRIM. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company’s business and profitability.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.

Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. PRIM currently has a Zacks Rank of #2 (Buy).

Valuation is also important, so investors should note that PRIM has a Forward P/E ratio of 14.09 right now. For comparison, its industry has an average Forward P/E of 17.04, which means PRIM is trading at a discount to the group.

The Building Products – Heavy Construction industry is part of the Construction sector. This group has a Zacks Industry Rank of 213, putting it in the bottom 17% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.

SNOW – Snowflake Inc. (SNOW) Stock Sinks As Market Gains: What You Should Know

In the latest trading session, Snowflake Inc. (SNOW Free Report) closed at $233.75, marking a -0.09% move from the previous day. This change lagged the S&P 500’s 0.42% gain on the day.

Coming into today, shares of the company had gained 2.6% in the past month. In that same time, the Computer and Technology sector gained 5.45%, while the S&P 500 gained 6.32%.

SNOW will be looking to display strength as it nears its next earnings release.

SNOW’s full-year Zacks Consensus Estimates are calling for earnings of -$0.67 per share and revenue of $1.09 billion. These results would represent year-over-year changes of +63.19% and +84.2%, respectively.

Any recent changes to analyst estimates for SNOW should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company’s business and profitability.

Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.

The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. SNOW is holding a Zacks Rank of #3 (Hold) right now.

The Internet – Software industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 207, putting it in the bottom 19% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.

OMI – Owens & Minor (OMI) Outpaces Stock Market Gains: What You Should Know

Owens & Minor (OMI Free Report) closed at $37.59 in the latest trading session, marking a +0.45% move from the prior day. This move outpaced the S&P 500’s daily gain of 0.42%.

Prior to today’s trading, shares of the medical supply distributor had gained 13.02% over the past month. This has outpaced the Medical sector’s loss of 2.13% and the S&P 500’s gain of 6.32% in that time.

Investors will be hoping for strength from OMI as it approaches its next earnings release. On that day, OMI is projected to report earnings of $0.95 per share, which would represent year-over-year growth of 2275%. Our most recent consensus estimate is calling for quarterly revenue of $2.28 billion, up 7.5% from the year-ago period.

Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $3.30 per share and revenue of $9.44 billion. These totals would mark changes of +46.02% and +11.29%, respectively, from last year.

Any recent changes to analyst estimates for OMI should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company’s business and profitability.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.

Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.41% higher. OMI is currently sporting a Zacks Rank of #1 (Strong Buy).

Valuation is also important, so investors should note that OMI has a Forward P/E ratio of 11.56 right now. For comparison, its industry has an average Forward P/E of 29.63, which means OMI is trading at a discount to the group.

Investors should also note that OMI has a PEG ratio of 0.76 right now. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company’s expected earnings growth rate. Medical – Products stocks are, on average, holding a PEG ratio of 2.6 based on yesterday’s closing prices.

The Medical – Products industry is part of the Medical sector. This group has a Zacks Industry Rank of 149, putting it in the bottom 42% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.

AVT – Avnet (AVT) Gains But Lags Market: What You Should Know

In the latest trading session, Avnet (AVT Free Report) closed at $43.12, marking a +0.33% move from the previous day. This move lagged the S&P 500’s daily gain of 0.42%.

Heading into today, shares of the distributor of electronic components had gained 11.6% over the past month, outpacing the Computer and Technology sector’s gain of 5.45% and the S&P 500’s gain of 6.32% in that time.

Wall Street will be looking for positivity from AVT as it approaches its next earnings report date. In that report, analysts expect AVT to post earnings of $0.55 per share. This would mark year-over-year growth of 44.74%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $4.5 billion, up 4.36% from the year-ago period.

For the full year, our Zacks Consensus Estimates are projecting earnings of $2 per share and revenue of $18.49 billion, which would represent changes of +29.87% and +4.83%, respectively, from the prior year.

Any recent changes to analyst estimates for AVT should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company’s business outlook.

Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.

The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.25% higher. AVT currently has a Zacks Rank of #2 (Buy).

Digging into valuation, AVT currently has a Forward P/E ratio of 21.72. This represents a premium compared to its industry’s average Forward P/E of 14.73.

Investors should also note that AVT has a PEG ratio of 1.12 right now. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company’s expected earnings growth rate into account. Electronics – Parts Distribution stocks are, on average, holding a PEG ratio of 1.12 based on yesterday’s closing prices.

The Electronics – Parts Distribution industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 56, putting it in the top 23% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

To follow AVT in the coming trading sessions, be sure to utilize Zacks.com.