Crisp and snack manufacturer Walkers has brought four of its single-serve snack brands together under a new ’99 Calories or Less’ banner.The range, which will be relaunched with new pack designs, features the Quavers, Wotsits, Squares and French Fries brands. The packets will feature an on-pack flash, flagging up how many calories they contain.The four brands are worth £177m between them and are growing at around 9% year-on-year. The snacks will be available in cases of 48. Point-of-sale material is also available.
The winning products in the 2017 Christmas Stars competition will be revealed online at 3pm today (11 October).British Baker will announce the seven category winners and runners-up, who will be able to use the Winner or Highly Commended logo on all marketing material and on packs.Our panels of industry experts have judged and scored all entries ‘blind’, with judges initially unaware of the identity of the manufacturer or retailer. Products have been scored on criteria including appearance, taste, aroma and value for money.“Once again, we have had a great range of entries for the competition, and our judges have had to make some very tough decisions to select the winners out of an array of fantastic festive treats,” said British Baker editor Vince Bamford.“I’m particularly delighted to be able to say that this year’s winners range from major manufacturers and retailers to artisan bakers.”The winners’ announcement video will go live on this site (britishbaker.co.uk) at 3pm.
In early February, The Werks convened in Columbus, OH for the debut of their Winter Werk Out Festival. Among the many glorious performances at the event, one of the most special was dubbed The Twerks Tribute To The 70’s.The Twerks naturally saw The Werks join forces with Mihali Savoulidis of Twiddle, as well as bassist Dino Dimitrouleas, for a set-long tribute to the famed decade in music history. The 70’s tribute set featured funky takes on tracks by Black Sabbath, Rolling Stones, Traffic, Elton John, The Doors, Pink Floyd, KC & The Sunshine Band, Marvin Gaye, Ram Jam and Led Zeppelin! Talk about a fun time.Says Werks’ keyboardist Dan Shaw, “It was great doing a set from such a wide range of 70s music! Playing with Dino again was awesome and Mihali sings like an angel. Always stoked to learn classic tunes and play them with badass musicians.” Guitarist Chris Houser adds, “It was so much fun getting together with Mihali and Dino (our Greek brothers!). It amazed me honestly how well he whole set turned out. When you do a collaborative set where there are no actual rehearsals, it is always a little nerve-racking, but it was super tight and really really fun.”Fortunately, you’ll be able to enjoy the really really fun, super tight set for yourself! The Werks are serving up a free download, and we’ve got the exclusive at L4LM. Check it out via the Bandcamp embed below.<a href=”http://thewerks.bandcamp.com/album/the-twerks-tribute-to-the-70-s-live-winter-werk-out-2-3-17″>The Twerks – Tribute to the 70’s LIVE @ Winter Werk Out 2/3/17 by The Werks</a>We’re also delighted to premiere the official video for “Black Betty,” which you can stream in the YouTube player below.Setlist: The Twerks Tribute To The 70’s | Winter Werk Out Festival | Columbus, OH | 2/2/17War PigsLoving CupShake Shake ShakeBennie and The JetsBlack BettyLet’s Get It OnLow Spark of High Heeled BoysL.A. WomanComfortably NumbThe Song Remains the Same[Photo by Bradford Watkins Creations // The Chronic ElectronicVideo by Sass TV/Diller Productions]
Tom Kane’s 6-year-old son recently offered the Harvard Graduate School of Education (HGSE) professor insight into the tricky nuances of assessing complex educational data. The boy’s teaching tool: popular superheroes.He showed me that “if you are going to have a team of superheroes, you don’t want three supermen, you want three people each with different superpowers.”The lesson, Kane said, directly applies to his work aimed at measuring effective teaching. “You shouldn’t be looking for the most super of the supermen, you should be looking for different measures that have different strengths.”The superman metaphor applies to classroom observations, student surveys of teachers, and student achievement on state tests, three measures that are core parts of the “Measures of Effective Teaching” project, an ongoing study aimed at finding out exactly what good teaching looks like. While each measure has its own strengths, none individually can fully predict teacher effectiveness. But combining them, said Kane, balances out their weaknesses, while capitalizing on their strengths.Kane was at HGSE for an Askwith Forum on Jan. 26 to discuss the most recent findings from the initiative. Launched in 2009, the project, backed by the Bill & Melinda Gates Foundation and led by Kane, is the largest effort of its kind to collect video observations, student perceptions, and assessments of student achievement and teacher knowledge.The recent findings focus largely on classroom observations.Classroom observations have the “highest potential for diagnostic insights,” said Kane, HGSE professor of education and economics. For such observations to be successful, raters need to be given a clear set of standards of effective teaching and carefully trained to identify such standards. Teachers also need to be observed multiple times, Kane said, to help account for discrepancies in scoring that may be attributable to a certain rater’s judgment, a particular lesson, or even a certain group of students.One important approach, said Kane, “is to get multiple observations” and average them.The recent findings also reveal that the combination of the researchers’ three key measures did better than “master’s degrees and years of experience in predicting which teachers would have large gains with another group of students.”The project includes 3,000 teachers from seven urban school districts: Charlotte, N.C.; Dallas; Denver; Memphis, Tenn.; New York City; Pittsburgh; and Hillsborough County, Fla.Kane conducted his work with the help of Harvard’s Center for Education Policy Research. Ronald Ferguson, a senior lecturer in education and public policy at HGSE and the Harvard Kennedy School, helped to develop the student questionnaires for the research.
Penn State dissolves its Outing Club, citing safety concerns.The college years. Parties and beers, right? But if you were a suburbanite like me in 2002 and chose a college for its access to the outdoors, those years exploded with new experiences that had nothing to do with classes or parties. I explored the state forest bordering Penn State University, organized trips through the Outing Club, and gained many of the skills that help me professionally and personally today.The Penn State Outing Club, the nation’s third oldest university outing club, has long been an organization through which students hone leadership traits and outdoor skills. PSOC has built trails, maintained gear for community rental, and adapted to student interest over the years.Those experiences are now a thing of the past.On April 2, 2018, PSOC was informed that “its activities exceed the University’s acceptable risk level,” according to club treasurer Timothy Hackett. After a risk assessment of 79 club sports, the university found the three outdoor recreation clubs (including the Nittany Grotto caving club and the Nittany Divers SCUBA club) exceedingly risky. The 98-year-old organization would be “dissolved at the end of the semester.”Students were not allowed to see the risk assessment, but university spokeswoman Lisa Powers reports that “impact of activity, typical impact force, [and] severity and frequency of participant injury” were evaluated. The university also says that in December 2016, some students “expressed concerns related to the misuse of alcohol… in the context of already risky activities” but has not specified in which clubs or how often this occurred.Can Students Lead?If Penn State found its student-led organizations to be too risky, it would make sense to see other Blue Ridge colleges and universities moving in the same direction. In reality, though, a minority of universities have entirely staff-run outdoor recreation programs.Many other student-run groups coexist with universities’ staff-led offerings. The University of Virginia has a staff-run Outdoor Adventure program which offers guided trips and rental gear. Meanwhile, the student-led Outdoors at UVA club allows dues-paying members to go on trips or borrow gear for free.There are also universities where students lead all outdoor programming. Dartmouth Outing Club, the nation’s oldest, is entirely student-run with some staff oversight. Eric Ramsey, Associate Dean for Student Life at Dartmouth, supports the student-run model in part because “Outdoor education is fundamentally about the experience of immediate consequences related to decision-making: if you get your sleeping bag wet, you will be cold.” PSOC officers have also pointed out that student-led trips are more affordable than guided trips and build a community centered on personal growth instead of single experiences.Risky BusinessWhile renowned for its wilderness travel courses, the National Outdoor Leadership School is also a risk consultant for schools and nonprofits. “We try to help other programs manage the risks of operating in remote places, on both the proactive and response end of things,” says Katie Baum Mettenbrink, a NOLS Risk Services manager. These organizations turn to NOLS to make sure their programs survive, both literally in bringing home all the participants and in not meeting financial ruin via lawsuit. “We have not seen anything to suggest that student leaders are incapable outdoor risk managers,” Mettenbrink says, but she recommends leader training in three areas:1) Leadership Skills: Leadership skills include group dynamics, logistics, and managing risk proactively. Most university clubs require workshops on these topics before students lead trips. PSOC’s leadership training program was being rebuilt at the time of the risk review.2) Outdoor Skills: These “hard skills” are particular to each sport. Backpackers must know how to throw a bear bag, for example. In my PSOC days, student leaders had to master skills in a workshop before leading trips.3) Responding to Emergencies: Mettenbrink says “College/university programs we’ve worked with require leaders to complete a 16-hour Wilderness First Aid (WFA) course for day and weekend trips.” Penn State met those requirements, and the Outing Club says many leaders had “superseding certifications, such as Wilderness First Responder, Swift Water Rescue, and/or Emergency Medical Technician.”Déjà VuWhen I entered Penn State, PSOC leaders underwent training in all above topics. We offered rental equipment, published a trip schedule in our own magazine, and submitted all trip proposals to our university-appointed advisor.In 2005, as campus recreation programs were coming into vogue, a risk management review similar to that in 2017 decided PSOC shouldn’t be managing technical gear like climbing ropes and PFDs. A newly created, staff-led Outdoor Adventures program took over the gear, and thereafter PSOC was housed under Club Sports where trips would require approval both by the club advisor and university staff. Current Outing Club leaders say their new trip paperwork “was designed and intended for typical organized sporting events, such as a wrestling tournament or track meet.”In spring 2017, the university finally realized that club sports needed different procedures from outdoor clubs. It moved oversight to the Outdoor Adventures program created twelve years earlier. PSOC officers say new requirements “helped to bring the Outing Club closer to national standards,” and the group ran twelve trips under this model.The club’s disbanding surprised students who had worked with Outdoor Adventures for fifteen months to revise safety procedures. Penn State has conceded that, in addition to perceived risk, “The amount of oversight required for the volume of trips that certain groups wanted to take was not sustainable by our Outdoor Adventures staff.” According to PSOC, the university claimed that both organizations were a “duplication of resources.” The students are eager for more training and even more paperwork, but the university isn’t willing to make that a possibility.Petitions supporting PSOC have received over 22,000 signatures. The story has been covered in the media over 150 times, and 300 concerned alumni co-wrote a letter to the University’s president. The alumni letter got a prompt response from the Vice-President for Student Affairs. Alumnus Nick Clabbers says he is “cautiously optimistic” that upper administration understands the value of student-led outings. For now, PSOCers must only go on staff-led, more expensive Outdoor Adventures trips, but they are allowed to meet indoors. “We will continue to have meetings, host professional, and student speakers, and continue trail maintenance events,” says Hackett.It’s not the experience I had, though, and they deserve better.
Paraguay By Dialogo October 01, 2012 General Douglas Fraser, commander of U.S. Southern Command, a co-host of SOUTHDEC, said the myriad new roles of armed forces calls for a “new era of engagement,” one that welcomes regional defense strategies, such as the one created by the Union of South American Nations, or UNASUR, while integrating existing ties with Central and North America. Diálogo spoke with representatives from several nations in attendance at the conference about the challenges faced by militaries in the region. Peru’s Military strategy has changed drastically from the committees of self-defense − citizen militias that proliferated to fight insurgents in the 1980s and 1990s. Now it relies on direct collaboration with communities along the narcotrade routes, establishing a permanent State presence and building reliable sources of intelligence. Admiral José Cueto, chief of the Joint Forces Command of Peru, emphasized in his address that beating back the Shining Path guerilla threat in Peru was a result of the Government creating more all-encompassing policies and countering ideology head-on. He said such strategies need to be adopted across regional borders. In Ecuador, drug trafficking has led to transnational organized crime along the northern border. Lieutenant General Jorge Peña, chief of the Operational Joint Staff of the Joint Command of the Armed Forces, said the crimes of drug trafficking, fuel smuggling, arms trafficking and illegal mining are all related. “Large narcotrafficking networks want to use and are using our country as a transit country … and this is worrisome,” he told Diálogo. In discussing ways to collaborate, he suggested working more closely with the U.S.’s Joint Inter-Agency Task Force-South (JIATF-S) in Key West, Florida. “We want to have better contact and information from [JIATF-S] in order to be better able to combat narcotrafficking and organized crime.” General Daniel Castellá, chief of the Defense Staff of Uruguay, told Diálogo that his country’s approach to defense has changed. “The concept of defense is not only for Soldiers. Defense today is more encompassing; it is related to citizenry where all take part,” he said. The Government of Uruguay also recently committed to increase military expenditures to fulfill a long-awaited modernization to match its widened role. In addition, the Armed Forces are encouraging private investment to advance military technology. “Organized crime is transnational and does not have borders,” he told Diálogo. He added that the region needs to work together “to make policies that provide mechanisms for real action against this organized threat.” Peru Ecuador Brazil In the days before General Alejandro Navas, chief of defense of the Colombian Armed Forces, stepped onto a stage to address some 100 South American defense leaders, the insurgent Revolutionary Armed Forces of Colombia bombed a bridge, set tractor-trailers ablaze and prompted violent protests. “It is indisputable that some criminal organizations, especially narcotraffickers, employ any form of violence and terrorism possible to extend their business,” Gen. Navas told attendees at the IV South American Defense Conference (SOUTHDEC), held July 24-26, 2012, in Bogotá. “We are left with no other choice than to unite and act together to break down the most dangerous criminal phenomena we have encountered in the 21st century.” Colombia has made great strides in the past decade to battle back insurgent groups to a fraction of their previous territory, and to reduce coca production by 70 percent. Other South American nations, such as Peru and Paraguay, have reduced the size of insurgent groups that threaten democracy and citizen security. In the conference’s opening address, Gen. Navas classified organized crime as one of the “dark threats” that is evolving in the region. He said this requires the region’s armed forces to also transform, taking on nontraditional roles. In evoking the conference theme, Gen. Navas said, “The solution is in our hands … not in foreign theories or from other continents. Information, collaboration, cooperation is the only way we can coordinate against this threat.” Several countries have committed troops to the peacekeeping force led by Brazil in Haiti. The result has been interoperability of regional forces and increased engagement with citizens. Brazilian Air Force Lieutenant General Roberto Carvalho, deputy director of international affairs for the Joint Staff of the Armed Forces, told Diálogo that his country is sending “its best” to Haiti. “This gives them motivation, instruction, training and knowledge,” he said. Brazil’s Army is also taking on a lead role in coordinating the protection for “upcoming events” of national importance such as the World Cup in 2014 and Summer Olympics in 2016. Recent successful coordination efforts for the international conference Rio+20 and the Military World Games demonstrated how the Army can collaborate with the Federal Police, Military Police and the Federal Highway Patrol. Paraguay has experienced several recent successes against the Paraguayan People’s Army (EPP, by its Spanish acronym), a guerrilla group within its borders, but still faces what General Marco Aurelio Torales, chief of Joint Staff, describes as the “emerging threat” of international drug and arms trafficking. “We try to have a frank dialogue with [citizens] so that day by day we can confront these emerging threats,” he told Diálogo, underscoring successes in preventing further conscription into the EPP through logistics and intelligence support to public security forces. Uruguay Chile The Southern Cone, including Chile, is increasingly being used as a drug transit area, leading to a rise in violent crime. Lieutenant General Hernán Mardones, chief of the Joint Staff of Chile, told Diálogo that the Frontera Norte (Northern Border) strategy has added police and Military posts in areas of the high plateaus where more than 95 unregulated border crossings are known to exist. Chile is also training its forces through peacekeeping missions from Haiti to the Middle East. “Peacekeeping operations allow us in some ways to train our forces, to train our men,” noted Lt. Gen. Mardones, who said 15,000 Chilean troops were ready within 48 hours to respond to Haiti’s earthquake in 2010. In his closing remarks, Gen. Fraser highlighted that interactions like those of regional militaries in Haiti provide the “glue to address interagency, international organizations” and bridge gaps that other government agencies cannot. The relationships that are built and the interagency coordination transcend purely humanitarian roles. “We have a common problem and a common enemy and our threat is nontraditional,” he said.
– Advertisement – Air travelers walk toward a Lyft pickup area at Los Angeles International Airport (LAX) on August 20, 2020 in Los Angeles, California.Mario Tama | Getty Images Still, a vaccine has yet to be approved, and with many questions related to the pandemic continuing to linger, navigating the current economic climate isn’t easy.Following the latest stock recommendations from analysts with a proven track record of success is one way to find compelling investment opportunities. TipRanks analyst forecasting service tracks analyst ratings to determine the Street’s best-performing analysts, or the analysts with the highest success rate and average return per rating.Here are the best-performing analysts’ five favorite stocks right now:Square- Advertisement – The Democrats have gained control of the White House, and Wall Street appears to be on board. Although President-elect Biden will have to grapple with the ongoing coronavirus pandemic and the economic fallout, stocks have rallied in the days following the election.On the back of fading uncertainty, the S&P 500 notched its best post-election week performance in at least four decades. On top of this, impressive data from a Phase 3 trial evaluating Pfizer’s experimental coronavirus vaccine has boosted the markets.“The much-awaited results from Pfizer that its COVID-19 vaccine has an efficacy rate greater than 90 percent is a positive event that will allow society to gradually normalize during 2021,” Goldman Sachs analysts wrote in a note to clients.- Advertisement – Five-star analyst Mayank Tandon, of Needham, lifted his price target for Square on November 6, with the figure increasing from $190 to $230 (25% upside potential), following its strong Q3 earnings release. Along with the price target update, the analyst reiterated a Buy rating.In the quarter, Square saw net revenue of $3.03 billion, reflecting a 140% year-over-year jump and surpassing the Street’s $2.04 billion call. This result was driven by an influx of low margin bitcoin revenue. Gross profit for the Cash App segment soared 212% year-over-year, and adjusted EPS of $0.34 easily beat the $0.16 consensus estimate. Additionally, GPV increased 12% year-over-year to reach $31.7 billion, coming in $1.7 billion above analysts’ forecast.Looking ahead, the payments company is still declining to provide guidance due to continued pandemic-related uncertainty. That said, Tandon remains “positive on the shares for aggressive growth investors looking for exposure to the positive trends driving growth in digital payments.” Square did however state that it expects Cash App gross profit growth to moderate but still surpass 160% year-over-year in October, given that the stimulus impact has dissipated.“We remain positive on SQ given the impressive growth within Cash App and improving trends in the Seller ecosystem. While the NT investments will weigh on profitability, we believe they will help SQ continue to gain share in both the consumer and business payments end-markets, both of which provide a long growth runway for SQ,” Tandon opined.Based on his 68% success rate and 21.5% average return per rating, Tandon scores the #70 spot on TipRanks’ list of best-performing analysts.Hecla MiningHelca Mining, which is a silver and other precious metals mining company based in Coeur d’Alene, Idaho, has earned a thumbs up from H.C. Wainwright’s Heiko Ihle. The five-star analyst reiterated a Buy rating, with the price target standing at $7, on November 10. This target puts the upside potential at 39%.Ihle points to the company’s third quarter results as a key component of his bullish thesis. Revenue came in at $199.7 million and net income attributable to shareholders clocked in at $13.5 million, or $0.03 per share, versus revenue of $161.5 million and a net loss attributable to shareholders of $19.7 million, or ($0.04) per share, in the prior-year quarter.The strong showing came thanks to a 41% year-over-year increase in silver ounces (oz) sold, as well as 39% growth in the average realized silver price, with the figures landing at 3.1Moz and $25.32/oz, respectively.“The meaningfully better earnings were a result of the higher revenue figure as cost of sales remained mostly flat,” Ihle commented. This performance prompted the company to bump up its consolidated FY20 silver production guidance to 12.8-13.4Moz, compared to the previous guidance of 12.4 – 13.0Moz.Reflecting another positive, Ihle points out that “liquidity remains strong” even after HL repaid its revolver. In Q1 2020, the company drew down $210 million from its credit facility in response to the coronavirus pandemic. On top of this, it declared a quarterly cash dividend of $0.00875 per common share, an increase of 250% year-over-year.When it comes to Lucky Friday, its mine located in Idaho, management believes it will reach full capacity in Q4 2020 and expects to see production of over 3Moz of silver for FY21. “We note that Hecla believes Lucky Friday can produce about 5Moz annually in three to five years without significant capital outlays. The company is also analyzing other mining methods to improve safety and increase production from the site,” Ihle said.The H.C. Wainwright analyst is among the top 150 analysts tracked by TipRanks.Boingo WirelessAfter a rough second quarter, Boingo Wireless has managed to drive a turnaround in Q3. Delivering substantial improvements, revenue increased by 0.1% sequentially to $58.8 million, beating Oppenheimer analyst Timothy Horan‘s $57.9 million estimate. The five-star analyst cites a 100-basis point improvement in EBITDA margin as the driver of the solid result.Additionally, cash EBITDA of $10.3 million beat Horan’s $9.1 million forecast on lower SG&A and network operation costs, with CAPEX accounting for 58% of revenue, compared to 50% in the previous quarter. According to the analyst, this result highlights “expectations of strong growth.”“Revenue bottomed last quarter and EBITDA margins are improving. Multifamily saw an uptick in traffic usage, meaningful Wi-Fi offload, and higher ARPU. Positively, progress has been made for the MTA project and a carrier will go live in 4Q20. Revenues will ramp up into 2022 and could generate $20 million in revenue per year,” Horan noted.Some investors have expressed concern as lower foot traffic levels related to the pandemic continue to impact Boingo’s Retail/Advertising segment. However, Horan points out that connects improved from 13.8 million to 28.3 million, with DAS nodes in backlog accelerating by 500 and higher CAPX reimbursements “pointing to strong network demand.”The analyst added, “Although there wasn’t an update on a strategic transaction, we believe a deal will happen. There is much more business visibility with COVID headwinds subsiding, there has been an uptick in transaction activity in the industry on low-cost debt, and WIFI has unique infrastructure assets.”All of the above led Horan to boost his FY21 revenue and cash EBITDA projections by 420 basis points, with the analyst also anticipating that “DAS revenue growth will improve as Boingo books venues and the MTA projects ramp.”To this end, Horan, who is #83 on TipRanks’ ranking thanks to his 71% success rate, maintained a Buy rating and $15 price target (17% upside potential) on November 9.New RelicOppenheimer’s Ittai Kidron is standing squarely with the bulls on New Relic despite the SaaS software company’s mixed fiscal Q2 2021. On November 6, the five-star analyst kept a Buy rating and $75 price target on stock, suggesting 34% upside potential.During the quarter, ARR was flat on a quarter-over-quarter basis, with fiscal Q3 revenue guidance indicating declines. Dollar-based net expansion declined to its lowest-ever point of 98%, versus 100% quarter-over-quarter and 112% year-over-year. In addition, gross margin and operating margin contracted by 673 basis points and 784 basis points, respectively, quarter over-quarter.Kidron adds that there is a high execution bar as the product and pricing model is changing and the macro and competitive environment is tough.Expounding on this, the analyst stated, “The company’s seeing the early negative effects of the transition to its new product/pricing model, which is further complicated by the challenging macro backdrop and tough competition. We expect the environment to remain challenging and caution investors of more mixed results ahead.”Having said that, Kidron remains optimistic. Conversion to New Relic One is progressing, with the company seeing “initial positive signs validating the potential of the new pricing strategy.” There was also large account growth, as roughly 77% of ARR came from over $100,000 accounts. “We continue to see strategic/business value in New Relic’s product (TDP, FSO, AI) and pricing (per user for Observability/data ingestion for Telemetry) changes, but caution that it will take 3-4 quarters to fully work through customer renewals,” he mentioned.All in all, Kidron argues “with the stock trading at the low end of its range (~4.5x EV/sales), the risk/reward scenario looks positively aligned.”With a 73% success rate and a 36.7% average return per rating, Kidron is among TipRanks’ Top 15 best-performing analysts.LyftRBC Capital analyst Mark Mahaney sees a recovery for Lyft. To this end, he maintained a bullish call on the ride sharing company on November 10, but trimmed the price target from $48 to $46. This new target still leaves room for 26% upside potential.Unsurprised by the company’s Q3 performance, Mahaney points out that revenue of $500 million was affected by the U.S. mobility restriction. That said, trends picked up modestly during Q3, with Rides down 54% year-over-year in July, 53% in August and 48% in September, with October down 47%. To compare, Rides were down 75% year-over-year in April. Additionally, EBITDA came in at a loss of $240 million, besting the company’s guidance of -$265 million.The bottom line? Mahaney argues fundamental trends are improving, with Lyft “aggressively managing expenses.” On top of this, Prop 22’s passage has “removed a major expense wildcard,” in the analyst’s opinion, as gig employees will continue to be classified as contractors in California.“Long term, we continue to appreciate a very large Ridesharing market opportunity that is still early in its S-Curve adoption, and we continue to recognize a lot of material innovation around both the rider and driver experiences. Given a recovery in U.S. mobility, we continue to like LYFT as a pure play on the U.S. ridesharing industry, especially at < 3X EV/Sales,” Mahaney wrote.Thanks to his 68% success rate and 31.9% average return per rating, Mahaney is ranked #45 out of 7,079 analysts tracked by TipRanks. - Advertisement -
OPEC pushed on Thursday for a bigger-than-expected oil output cut to support prices that have been hit by the coronavirus outbreak, effectively presenting its non-OPEC partners with an ultimatum to back the move or face a price collapse.oilOPEC’s proposal to curb supplies by an extra 1.5 million barrels per day (bpd) until the end of 2020 was a surprise, given the group was expected to propose cuts of 1 million bpd and, hours earlier on Thursday, had said curbs should be limited to the second quarter. But an unusual informal meeting of OPEC ministers in a Vienna hotel on Thursday evening announced that the group now wanted the cut – already the biggest since the 2008 financial crisis – to run until the end of year. Russian Finance Minister Anton Siluanov said on Thursday he was ready for a drop in oil prices if there was no deal. Kazakh Energy Minister Nurlan Nogayev, another non-OPEC producer, said talks were only focusing on extending existing curbs to June. “Moscow perhaps is underestimating that Saudi Arabia may be ready to walk away if it doesn’t get a positive answer,” said Amrita Sen, co-founder of Energy Aspects think-tank.A pumpjack is seen at the Sinopec-operated Shengli oil field in Dongying, Shandong province, China, in this file photo. (Reuters/Chen Aizhu)In this togetherRussia has been hesitant in previous negotiations and has then signed up to deals at the last minute. But OPEC sources have said negotiations with Moscow this time have been tougher. Two OPEC sources said on Thursday that, if Russia failed to sign up, there was a risk Saudi Arabia would insist on scrapping OPEC production limits altogether. After its formal ministerial meeting, OPEC ministers had said non-OPEC states were expected to contribute 500,000 bpd to the overall extra cut. Suhail al-Mazroui, energy minister of the United Arab Emirates, said OPEC did not want to carry the burden of cuts alone and non-OPEC had to help. “We are all in this together. So it’s not going to be us making a decision alone,” he said.Saudi Arabia, the world’s top oil exporter, is already cutting well beyond its quota under the existing pact, reducing its output by about 10%. Russia, with bigger total production, has reduced its output by a fraction of Riyadh’s cut. Gary Ross, founder of Black Gold Investors, said a worst case scenario in which Saudi Arabia returned to full production would send oil prices down to $25 to $30 a barrel. That would take prices to a level that would be painful for OPEC states, already struggling with prices at around $50, but also for Russia, which has said it can balance its books at $40. “OPEC+ have little choice but to cut output substantially given the virus related demand losses,” Ross said, adding that he expected Russia “will join because it is overwhelmingly in their economic interests.” Brent oil prices LCOc1 initially rose 0.6% on news of OPEC’s plan to cut by 1.5 million bpd, but then gave up most of those gains when Russia and others suggested a deal was not in the bag. The proposed OPEC cut of 1.5 million bpd, if approved, would bring the group’s overall output reduction to 3.6 million bpd or about 3.6% of global supplies. The last time OPEC reduced supplies on such a scale was in 2008 when it cut production by a total of 4.2 million bpd to address slower demand because of the global financial crisis. OPEC hold its next ministerial meeting on June 9.Topics : Russia and Kazakhstan, both members of the broader grouping known as OPEC+ which meets in Vienna on Friday, said they had not yet agreed to a deeper cut, raising the risk of a collapse in cooperation that has propped up crude prices since 2016. OPEC+ already has a deal in place for 2.1 million bpd of cuts. OPEC said after Thursday’s formal ministerial meeting that the market faced an “unprecedented situation” as efforts to stop the coronavirus spreading has driven down demand for oil by dampening economic activity around the world.Riyadh, OPEC’s biggest producer, has been pushing for a significant cut to lift oil prices that have tumbled 20 percent since the start of year. But it has struggled to win over Moscow.
He further called for the Bekasi administration to increase the number of intensive care facilities in the city.ICU facilities were commonly used to treat coronavirus patients with severe symptoms or those with comorbidity factors, as well as those with dangerously low oxygen levels in their blood despite experiencing no usual symptoms of the disease, which medical workers have dubbed “happy hypoxia”, Eko said.Aside from ICUs, he said the city was also running low on space at isolation centers, with 426 out of 550 units in use as of Tuesday to treat coronavirus patients with mild to moderate symptoms.Bekasi city has seen a rise in its incidence rate since early September.On Tuesday, Bekasi city reported 115 new infections, bringing the total to 1,338 cases. As of Wednesday, the city has 118 active cases, with 1,149 recoveries and 71 deaths.Mayor Rahmat Effendi said he would soon enforce a curfew in Bekasi, ordering all businesses to close by 8 p.m. and limiting evening activities, to reduce the number of transmissions, following in the footsteps of neighboring Depok and Bogor, which have enforced similar policy amid an increase in COVID-19 cases. (mfp)Topics : Bekasi, West Java is running out of available ICU facilities in its COVID-19 referral hospitals, an association has said, raising concerns amid the increasing number of coronavirus cases.Eko Nugroho, the head of Bekasi Private Hospital Association, said 48 out of 57 ICU beds in the city were occupied as of Tuesday as the number of COVID-19 patients who needed intensive care, including those who required ventilators, kept fluctuating.“The risk of death will be high because hospitals will struggle to treat COVID-19 patients that require care in the ICU,” Eko said as quoted by kompas.com on Wednesday.
Offshore installation and construction specialist McDermott has won a deal to install subsea equipment at Shell’s Silvertip field, which is part of Shell’s Perdido development in the U.S. Gulf of Mexico.McDermott said on Tuesday the contract was for subsea umbilical and flowline installation at the Perdido development, located 230 miles south of Galveston, Texas, in the Gulf of Mexico.The scope of work includes project management of engineering and installation of a flexible flowline from the well to a pipeline end termination; installation of an umbilical; installation of four electrical flying leads (EFLs) and pre-commissioning.Project management and engineering will be performed in Houston, Texas, with offshore installation by McDermott’s North Ocean 102 vessel targeted for completion in 2019.The Perdido production hub produces oil and gas from the Silvertip, Great White, and Tobago fields.McDermott did not share the financial details of the contract.