Day: August 19, 2021

ZEV – Glancy Prongay & Murray LLP, a Leading Securities Fraud Law Firm, Announces Investigation of Lightning eMotors Inc. (ZEV) on Behalf of Investors

LOS ANGELES–()–Glancy Prongay & Murray LLP (“GPM”), a leading national shareholder rights law firm, today announced that it has commenced an investigation on behalf of Lightning eMotors Inc. (“Lightning eMotors” or the “Company”) (NYSE: ZEV) investors concerning the Company’s possible violations of the federal securities laws.

If you suffered a loss on your Lightning eMotors investments or would like to inquire about potentially pursuing claims to recover your loss under the federal securities laws, you can submit your contact information at https://www.glancylaw.com/cases/lightning-emotors-inc/. You can also contact Charles H. Linehan, of GPM at 310-201-9150, Toll-Free at 888-773-9224, or via email at shareholders@glancylaw.com to learn more about your rights.

On August 16, 2021, after the market closed, Lightning eMotors announced its second quarter 2021 financial results, reporting a net loss of $46.1 million, compared to a net loss of $2.8 million during the prior-year period. The Company also withdrew its fiscal 2021 guidance, stating that it “no longer expects to meet full year guidance” citing among other things “chassis production disruptions.”

On this news, the Company’s share price fell $1.63, or 17%, to close at $8.00 per share on August 17, 2021.

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Whistleblower Notice: Persons with non-public information regarding Lightning eMotors should consider their options to aid the investigation or take advantage of the SEC Whistleblower Program. Under the program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Charles H. Linehan at 310-201-9150 or 888-773-9224 or email shareholders@glancylaw.com.

About GPM

Glancy Prongay & Murray LLP is a premier law firm representing investors and consumers in securities litigation and other complex class action litigation. ISS Securities Class Action Services has consistently ranked GPM in its annual SCAS Top 50 Report. In 2018, GPM was ranked a top five law firm in number of securities class action settlements, and a top six law firm for total dollar size of settlements. With four offices across the country, GPM’s nearly 40 attorneys have won groundbreaking rulings and recovered billions of dollars for investors and consumers in securities, antitrust, consumer, and employment class actions. GPM’s lawyers have handled cases covering a wide spectrum of corporate misconduct including cases involving financial restatements, internal control weaknesses, earnings management, fraudulent earnings guidance and forward looking statements, auditor misconduct, insider trading, violations of FDA regulations, actions resulting in FDA and DOJ investigations, and many other forms of corporate misconduct. GPM’s attorneys have worked on securities cases relating to nearly all industries and sectors in the financial markets, including, energy, consumer discretionary, consumer staples, real estate and REITs, financial, insurance, information technology, health care, biotech, cryptocurrency, medical devices, and many more. GPM’s past successes have been widely covered by leading news and industry publications such as The Wall Street Journal, The Financial Times, Bloomberg Businessweek, Reuters, the Associated Press, Barron’s, Investor’s Business Daily, Forbes, and Money.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

JNJ – Johnson & Johnson names Joaquin Duato as its next CEO

Gorsky, who has served as CEO and chairman since 2012, will become executive chairman at that time, according to a news release.
Duato has worked for Johnson & Johnson for more than 30 years, according to the release, and serves currently as the vice chairman of Johnson & Johnson’s executive committee.
“As the world continues to face significant health challenges, including the ongoing pandemic, I am inspired by Johnson & Johnson’s opportunity to play a key role in meaningfully improving the global trajectory of human health,” Duato said.
Gorsky said in the release that it was an honor to lead the company.
“I have the utmost confidence in Joaquin to lead Johnson & Johnson as the Company’s next CEO,” Gorsky said. “Over our more than 25 years of working together, he has always demonstrated a passion for solving complex medical and business challenges.”

SLQT – SLQT SHAREHOLDER ALERT: ROSEN, GLOBAL INVESTOR COUNSEL, Encourages SelectQuote, Inc. Investors with Losses in Excess of $100K to Secure Counsel Before Important Deadline in Securities Class Action – SLQT

NEW YORK, Aug. 19, 2021 /PRNewswire/ —

WHY: Rosen Law Firm, a global investor rights law firm, announces the filing of a class action lawsuit on behalf of purchasers of the securities of SelectQuote, Inc. (NYSE: SLQT) between February 8, 2021 and May 11, 2021, inclusive (the “Class Period”). A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than October 15, 2021.

SO WHAT: If you purchased SelectQuote securities during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.

WHAT TO DO NEXT: To join the SelectQuote class action, go to http://www.rosenlegal.com/cases-register-2145.html or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] or [email protected] for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than October 15, 2021. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.

WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources or any meaningful peer recognition. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs’ Bar. Many of the firm’s attorneys have been recognized by Lawdragon and Super Lawyers.

DETAILS OF THE CASE: According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) SelectQuote’s 2019 cohort was underperforming; (2) as a result, the Company’s financial results would be adversely impacted; and (3) as a result of the foregoing, defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis. When the true details entered the market, the lawsuit claims that investors suffered damages.

To join the SelectQuote class action, go to http://www.rosenlegal.com/cases-register-2145.html or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] or [email protected] for information on the class action.

No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.

Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm, on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm/.

Attorney Advertising. Prior results do not guarantee a similar outcome.

Contact Information:

      Laurence Rosen, Esq.
      Phillip Kim, Esq.
      The Rosen Law Firm, P.A.
      275 Madison Avenue, 40th Floor
      New York, NY 10016
      Tel: (212) 686-1060
      Toll Free: (866) 767-3653
      Fax: (212) 202-3827
      [email protected]
      [email protected]
      [email protected]
      www.rosenlegal.com

SOURCE Rosen Law Firm, P.A.

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AMAT – Applied Materials (AMAT) Q3 Earnings and Revenues Beat Estimates

Applied Materials (AMAT Free Report) came out with quarterly earnings of $1.90 per share, beating the Zacks Consensus Estimate of $1.76 per share. This compares to earnings of $1.06 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an earnings surprise of 7.95%. A quarter ago, it was expected that this maker of chipmaking equipment would post earnings of $1.51 per share when it actually produced earnings of $1.63, delivering a surprise of 7.95%.

Over the last four quarters, the company has surpassed consensus EPS estimates four times.

Applied Materials, which belongs to the Zacks Semiconductor Equipment – Wafer Fabrication industry, posted revenues of $6.2 billion for the quarter ended July 2021, surpassing the Zacks Consensus Estimate by 4.66%. This compares to year-ago revenues of $4.4 billion. The company has topped consensus revenue estimates four times over the last four quarters.

The sustainability of the stock’s immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management’s commentary on the earnings call.

Applied Materials shares have added about 47.6% since the beginning of the year versus the S&P 500’s gain of 17.2%.

What’s Next for Applied Materials?

While Applied Materials has outperformed the market so far this year, the question that comes to investors’ minds is: what’s next for the stock?

There are no easy answers to this key question, but one reliable measure that can help investors address this is the company’s earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.

Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.

Ahead of this earnings release, the estimate revisions trend for Applied Materials was mixed. While the magnitude and direction of estimate revisions could change following the company’s just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

It will be interesting to see how estimates for the coming quarters and current fiscal year change in the days ahead. The current consensus EPS estimate is $1.78 on $5.98 billion in revenues for the coming quarter and $6.55 on $22.65 billion in revenues for the current fiscal year.

Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Semiconductor Equipment – Wafer Fabrication is currently in the bottom 15% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.

CAL – Caleres Inc. (CAL) Stock Sinks As Market Gains: What You Should Know

Caleres Inc. (CAL Free Report) closed at $23.57 in the latest trading session, marking a -0.34% move from the prior day. This change lagged the S&P 500’s daily gain of 0.13%.

Heading into today, shares of the footwear wholesaler and retailer had lost 5.06% over the past month, lagging the Consumer Discretionary sector’s loss of 1.2% and the S&P 500’s gain of 1.82% in that time.

Wall Street will be looking for positivity from CAL as it approaches its next earnings report date. This is expected to be August 31, 2021. In that report, analysts expect CAL to post earnings of $0.55 per share. This would mark year-over-year growth of 196.49%. Meanwhile, our latest consensus estimate is calling for revenue of $646.9 million, up 29.01% from the prior-year quarter.

CAL’s full-year Zacks Consensus Estimates are calling for earnings of $2.05 per share and revenue of $2.69 billion. These results would represent year-over-year changes of +246.43% and +27.18%, respectively.

Any recent changes to analyst estimates for CAL should also be noted by investors. These revisions help to show the ever-changing nature of 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 remained stagnant. CAL currently has a Zacks Rank of #3 (Hold).

Investors should also note CAL’s current valuation metrics, including its Forward P/E ratio of 11.54. This represents a discount compared to its industry’s average Forward P/E of 17.91.

The Shoes and Retail Apparel industry is part of the Consumer Discretionary sector. This industry currently has a Zacks Industry Rank of 32, which puts it in the top 13% of all 250+ industries.

The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

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

KMX – CarMax (KMX) Stock Sinks As Market Gains: What You Should Know

CarMax (KMX Free Report) closed at $124.24 in the latest trading session, marking a -0.3% move from the prior day. This change lagged the S&P 500’s daily gain of 0.13%.

Heading into today, shares of the used car dealership chain had lost 8.32% over the past month, lagging the Retail-Wholesale sector’s loss of 4.68% and the S&P 500’s gain of 1.82% in that time.

Wall Street will be looking for positivity from KMX as it approaches its next earnings report date. In that report, analysts expect KMX to post earnings of $1.76 per share. This would mark a year-over-year decline of 1.68%. Meanwhile, our latest consensus estimate is calling for revenue of $6.42 billion, up 19.41% from the prior-year quarter.

KMX’s full-year Zacks Consensus Estimates are calling for earnings of $6.97 per share and revenue of $26.47 billion. These results would represent year-over-year changes of +54.2% and +39.69%, respectively.

Any recent changes to analyst estimates for KMX should also be noted by investors. These revisions help to show the ever-changing nature of 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 3.67% higher. KMX currently has a Zacks Rank of #1 (Strong Buy).

Investors should also note KMX’s current valuation metrics, including its Forward P/E ratio of 17.89. This represents a discount compared to its industry’s average Forward P/E of 18.51.

It is also worth noting that KMX currently has a PEG ratio of 1.03. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock’s expected earnings growth rate. KMX’s industry had an average PEG ratio of 1.44 as of yesterday’s close.

The Automotive – Retail and Wholesale – Parts industry is part of the Retail-Wholesale sector. This group has a Zacks Industry Rank of 7, putting it in the top 3% 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.

VIEW – View Shareholder Alert

Securities Litigation Partner James (Josh) Wilson Encourages Investors Who Suffered Losses Exceeding $50,000 In View To Contact Him Directly To Discuss Their Options

New York, New York–(Newsfile Corp. – August 19, 2021) – Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against View, Inc. (“View” or the “Company”) (NASDAQ: VIEW) and reminds investors of the October 18, 2021 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company.

If you suffered losses exceeding $50,000 investing in View stock or options between November 30, 2020 and August 16, 2021 and would like to discuss your legal rights, call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310). You may also click here for additional information: www.faruqilaw.com/VIEW.

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There is no cost or obligation to you.

Faruqi & Faruqi is a leading minority and Woman-owned national securities law firm with offices in New York, Delaware, Pennsylvania, California and Georgia.

As detailed below, the lawsuit focuses on whether the Company and its executives violated federal securities laws by making false and/or misleading statements and/or failing to disclose that: (1) that View had not properly accrued warranty costs related to its product; (2) that there was a material weakness in View’s internal controls over accounting and financial reporting related to warranty accrual; (3) that, as a result, the Company’s financial results for prior periods were misstated; and (4) that, as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.

On August 16, 2021, after the market closed, View announced that it “began an independent investigation concerning the adequacy of the company’s previously disclosed warranty accrual.”

On this news, the Company’s share price fell $1.26, or over 24%, to close at $3.92 per share on August 17, 2021, on unusually heavy trading volume.

The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class who is adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. Your ability to share in any recovery is not affected by the decision to serve as a lead plaintiff or not.

Faruqi & Faruqi, LLP also encourages anyone with information regarding View’s conduct to contact the firm, including whistleblowers, former employees, shareholders and others.

Attorney Advertising. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP (www.faruqilaw.com). Prior results do not guarantee or predict a similar outcome with respect to any future matter. We welcome the opportunity to discuss your particular case. All communications will be treated in a confidential manner.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/93813

info

JNJ – Johnson & Johnson CEO stepping down in January

Johnson & Johnson CEO Alex Gorsky will step down in January, the company announced Thursday.

Joaquin Duato, the vice chairman of Johnson & Johnson’s executive committee, will be appointed the company’s next CEO and a member of its board of directors effective Jan. 3, 2022. 

Duato has spent more than 30 years with Johnson & Johnson, serving in a variety of roles across its business segments. He also sits on the boards of UNICEF USA, Tsinghua University School of Pharmaceutical Sciences, and the Hess Corporation.

Ticker Security Last Change Change %
JNJ JOHNSON & JOHNSON 178.57 +1.38 +0.78%

JOHNSON & JOHNSON FORECASTS $2.5B OF CORONAVIRUS VACCINE SALES

Duato said he was “honored” by the appointment.

“As the world continues to face significant health challenges, including the ongoing pandemic, I am inspired by Johnson & Johnson’s opportunity to play a key role in meaningfully improving the global trajectory of human health,” he said.

Gorsky and Duato have worked closely together for 25 years, most recently on Johnson & Johnson’s COVID-19 response.

“In addition to driving accelerated growth and profitability in our pharmaceutical and consumer health businesses, in his most recent role of vice chairman of the executive committee, Joaquin helped guide our enterprise strategic planning process, encompassing all three of the company’s business segments, and was responsible for spearheading a significant technology transformation across the enterprise over the past year,” Gorsky said.

Joaquin Duato, the vice chairman of Johnson & Johnson’s executive committee, will be appointed the company’s next CEO and a member of its board of directors effective Jan. 3, 2022.  (REUTERS/Arnd Wiegmann)

Gorsky has served as Johnson & Johnson’s CEO for close to a decade, taking the role in 2012. His time leading the company saw Johnson & Johnson make significant investments in research and development – hitting $12 billion in 2020 – as well as hundreds of acquisitions and partnerships, including the purchase of Actelion, the company’s largest-ever acquisition, in 2017.

Those investments paid off with growth across business segments. Gorsky’s focus on oncology helped grow sales in the area from about $2 billion in 2011 to more than $12 billion last year, the company said. 

JOHNSON & JOHNSON WEIGHING BANKRUPTCY PLAN AS IT CONSIDERS OFFLOADING BABY POWDER LIABILITIES: REPORT

Gorsky also led the company through difficulties like its legal problems over talcum powder. The company is still facing thousands of lawsuits over allegations the products caused cancer.

He also oversaw the development of Johnson & Johnson’s single-shot COVID-19 vaccine, as well as breakthroughs for treating diseases like Ebola and HIV.

Johnson & Johnson CEO Alex Gorsky will step down in January, the company announced Thursday. (Lucas Jackson/Reuters/Bloomberg via Getty Images / Getty Images)

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Gorsky will remain with the company as executive chairman. He said he wants to focus more on his family “due to family health reasons,” but believes this is a good time for a change in leadership amid “strong performance.”

“It has been an honor and privilege to lead this company as chairman and CEO for nearly a decade, and I am pleased to serve as executive chairman to help oversee Johnson & Johnson’s ongoing progress improving the health of people and communities everywhere,” he said.

The New Brunswick, N.J.-based company announced $23.3 billion in sales in its latest quarterly earnings report. It netted $6.3 billion, an adjusted $2.48 per share.

This is a developing story. Check back for more details.

IWM – Russell 2000 ETF Breaks Below Its Key Long-Term Support

As the rout in small-capitalization stocks continues, an exchange traded fund that tracks the benchmark Russell 2000 Index has broken below its key technical level.

The iShares Russell 2000 ETF (IWM) has declined 1.4% and broke below its long-term support at the 200-day simple moving average, the first time it has been trading below the technical level in 11 months.

The iShares Russell 2000 ETF has declined 4.1% over the past week, but it is still up 9.8% year-to-date and is now lower than the benchmark Nasdaq-100 Index for the year.

While the small cap segment has been retreating, ETF investors have been trying to catch the falling knife. Over the past week, IWM has attracted around $300 million in net inflows, according to ETFdb data. However, the small cap ETF has bled $325 million in assets so far in August.

U.S. markets have been under pressure over the past week amid rising concerns around rising infection rates given the Covid-19 delta variant. The Russell 2000 is down for the sixth consecutive session on Thursday and is headed toward its longest losing streak since February 2020, Bloomberg reports.

Small-capitalization stocks have been outperforming for most of 2021, until last month when smaller companies began to lag behind their larger peers in response to the shift to large growth stocks and other assets seen as a safer play in times of growing economic uncertainty.

“People are looking for a little bit more safety right now and obviously smaller caps tend to be a little bit more volatile,” David Wagner, a portfolio manager at Aptus Capital Advisors, told Bloomberg. “They’re more dependent on GDP, dependent on growth, dependent on an accelerating economy, and given the emergence of the delta variant, you’ve somewhat capped some of those from a sentiment standpoint.”

For more news, information, and strategy, visit the Equity ETF Channel.

ZEV – INVESTOR ALERT: Law Offices of Howard G. Smith Announces Investigation of Lightning eMotors Inc. (ZEV) on Behalf of Investors

BENSALEM, Pa.–()–Law Offices of Howard G. Smith announces an investigation on behalf of Lightning eMotors Inc. (“Lightning eMotors” or the “Company”) (NYSE: ZEV) investors concerning the Company’s possible violations of federal securities laws.

On August 16, 2021, after the market closed, Lightning eMotors announced its second quarter 2021 financial results, reporting a net loss of $46.1 million, compared to a net loss of $2.8 million during the prior-year period. The Company also withdrew its fiscal 2021 guidance, stating that it “no longer expects to meet full year guidance” citing among other things “chassis production disruptions.”

On this news, the Company’s share price fell $1.63, or 17%, to close at $8.00 per share on August 17, 2021.

If you purchased Lightning eMotors securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to howardsmith@howardsmithlaw.com, or visit our website at www.howardsmithlaw.com.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.