Last Twelve Months – LTM

What is ‘Last Twelve Months – LTM’

Last twelve months (LTM), also commonly designated as trailing twelve months (TTM), indicates the timeframe of the immediately preceding 12 months. It is often used in reference to a financial metric used to evaluate a company’s performance, such as revenues or debt to equity (D/E). Although a 12-month period is a relatively short time span for examining company performance, it is considered useful because it indicates a company’s most recent performance, and is indicative of the company’s current state. The terms “last twelve months” or “trailing twelve months” frequently appear in a company’s earnings reports or other financial statements.

BREAKING DOWN ‘Last Twelve Months – LTM’

While in some respects, 12 months of data is less than adequate for investment evaluations, it is a long enough span of time to level out annual seasonal factors, possible short-term price fluctuations and some market swings. Last twelve month figures provide updated metrics from the typical annual and quarterly figures reported by company management.

In reviewing figures shown as last twelve months or trailing twelve months, investors should not assume the figures necessarily coincide with a company’s most recent fiscal year. In company financial statements, which are typically filed at the company’s fiscal year-end, the last twelve month figures refer to the 12-month period ending on the last date of the month the financial statement is dated, such as June 30 or December 31. For example, in a financial statement dated March 2015, last twelve month figures cover the period of time from April 1, 2014 through March 31, 2015.

Using Last Twelve Months Metrics

In addition to being used to gauge the recent trend of a given company’s performance, last twelve month financial metrics are also frequently used to compare the relative performance of similar companies within an industry or sector. Financial metrics commonly considered by looking at last twelve month figures include a company’s price-earnings (P/E) ratio and earnings per share (EPS).

In reviewing stocks, mutual funds and exchange-traded funds (ETFs), the dividend yield figure for the last twelve months is often compared with the SEC yield figure, which reflects only the yield of the most recently paid dividend. Another instance where the last twelve months’ figures are useful is when a company is being considered for acquisition. To arrive at a more accurate current value of a company, last twelve months’ figures are often preferable to the most recent fiscal year figures.

https://www.investopedia.com/terms/l/ltm.asp?utm_campaign=rss_headlines&utm_source=rss_www&utm_medium=referral

Loss Carryforward

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What is a ‘Loss Carryforward’

Loss carryforward refers to an accounting technique that applies the current year’s net operating losses to future years’ profits to reduce tax liability and track profits accurately. Generally accepted accounting principles (GAAP) specify that loss carryforwards can be used in any one of the seven years following the loss, but tax collection agencies allow varying amounts of time for loss carryforwards depending on the tax entity, the type of loss and other factors.

BREAKING DOWN ‘Loss Carryforward’

For example, if a company experiences negative net operating income (NOI) in year one, but positive NOI in subsequent years, it can reduce the amount of future profits it reports using a loss carryforward to report some or all of the loss from the first year in the subsequent years. This results in lower taxable income in positive NOI years, and reduces the amount the company owes the government in taxes. Imagine a company lost $5 million one year and earned $6 million the next. The loss from the first year can be carried forward and included in the current balance sheet for the second year, lowering the profits, and therefore the taxable income, for that year to $1 million.

Loss Carryforward and the Internal Revenue Service

The Internal Revenue Service (IRS) allows businesses to carry net operating losses (NOL) forward 20 years. After that point, the losses expire and can no longer be used to reduce taxable income. Individuals with capital losses can only claim up to $3,000 in capital losses against their income, but if they have losses greater than this amount, they may carry them forward to future years. For example, if an individual has $9,000 in capital losses, he may claim $3,000 the current tax year, $3,000 the following year and the final $3,000 the year after that.

Loss Carryforward vs. Loss Carryback

Loss carryback works the same way as loss carryforward. Essentially, a business or taxpayer applies losses from one year against gains or profits from another year. However, loss carrybacks are applied to past years’ earnings, while carryforwards apply to future years’ earnings.

The IRS also allows businesses and individuals to carry losses back against previous years’ earnings to retroactively reduce their tax liabilities for those years, but the agency has different carryback rules for different types of losses. For example, most losses, including personal capital losses, can be carried back for only two years, but farm losses can be carried back for five years. Similarly, specified liability losses can be carried back for 10 years. In most cases, to carry forward a loss, the tax filer must waive his right to carry back the loss.

Using Loss Carryforwards Effectively

To use loss carryforwards effectively, businesses should claim them as soon as possible. The losses are not indexed with inflation, and as a result, each year the claim effectively becomes smaller. For example, if a business loses $100,000 in the current tax year, although it may carry the loss forward for the next 20 years, it is likely to have a larger impact the sooner it is claimed. As a result of inflation, it is most likely that $100,000 will have less buying power and less real value 20 years from now.

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Glancy Prongay & Murray LLP Reminds Investors of Extended Lead Plaintiff Deadline in the Class Action Lawsuit Against A10 Networks, Inc. (ATEN)

LOS ANGELES–()–Glancy Prongay & Murray LLP (“GPM”) reminds investors of the July 27, 2018 deadline to file a lead plaintiff motion in the class action filed on behalf of investors that purchased A10 Networks, Inc. (“A10” or the “Company”) (NYSE: ATEN) securities between February 9, 2016 and January 30, 2018, inclusive (the “Class Period”).

To obtain information or actively participate in the class action, please visit the A10 page on our website at www.glancylaw.com/case/a10-networks-inc. Investors suffering losses on their A10 investments are encouraged to contact Lesley Portnoy of GPM to discuss their legal rights in this class action at 310-201-9150 or by email to shareholders@glancylaw.com.

On January 16, 2018, A10 announced that it expected fourth quarter 2017 revenue to be between $55.5 million and $56.0 million, which was below its prior guidance of $64.0 million to $67.0 million. On this news, A10’s stock price fell nearly 14%, thereby injuring investors.

Then, on January 30, 2018, A10 disclosed that the Company’s Audit Committee was investigating the Company’s revenue recognition practices from the fourth quarter of 2015 through the fourth quarter of 2017, inclusive. On this news, A10’s stock price fell nearly 12% on January 31, 2018, thereby further injuring investors.

The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and misleading statements regarding the Company’s business and operations. Specifically, Defendants failed to disclose that: (1) A10 had issues with its internal controls that required an Audit Committee investigation; (2) A10’s revenues since the fourth quarter of 2015 were false due to improper revenue recognition which prompted an investigation by the Company’s Audit Committee; and (3) as a result, Defendants’ public statements were materially false and misleading at all relevant times.

Follow us for updates on Twitter: twitter.com/GPM_LLP.

If you purchased shares of A10 during the Class Period you may move the Court no later than July 27, 2018 to ask the Court to appoint you as lead. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Lesley Portnoy, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to shareholders@glancylaw.com, or visit our website at www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.

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

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The Law Offices of Howard G. Smith Reminds Investors of July 20th Deadline in the Class Action Lawsuit Against ADT Inc. (ADT)

BENSALEM, Pa.–()–Law Offices of Howard G. Smith reminds investors of the July 20, 2018 deadline to file a lead plaintiff motion in the class action filed on behalf of investors that purchased ADT Inc. (“ADT” or the “Company”) (NYSE: ADT) securities between January 15, 2018 and May 21, 2018, inclusive (the “Class Period”). ADT investors have until July 20, 2018 to file a lead plaintiff motion.

Investors suffering losses on their ADT investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at 888-638-4847 or by email to howardsmith@howardsmithlaw.com.

On March 15, 2018, ADT announced poor fourth-quarter 2017 financial results, stating, in relevant part, that “diluted earnings per share was $(0.06) versus $(0.07) in the same period last year” when excluding special items.

On this news, ADT’s share price fell $1.28, or more than 12%, to close at $8.93 per share, on March 15, 2018, thereby injuring investors.

The complaint filed in this class action alleges that, Defendants made false and/or misleading statements and/or failed to disclose that: (1) ADT’s Registration Statement made material misrepresentations and omissions by failing to disclose historical metrics integral to appraising ADT “key value drivers”; (2) ADT’s discussion of risk factors did not mention or adequately describe the risk posed by the already occurring 75% increase in year-over-year losses, the other complete yet undisclosed materially negative 4Q and FY 2017 results and trends, ADT’s dependence on the Trump tax cut to meet even the extreme low end of its 2017 estimate ranges, the omission of historically critical metrics, and the likely and consequently materially adverse effects on ADT’s future results, share price, and prospects; (3) defendants’ failure to disclose then-complete materially negative 4Q and FY 2017 results and trends, and ADT’s dependence on the Trump tax cut to meet even the extreme low end of its 2017 estimate ranges, much less the likely material effects they would have on ADT’s share price, rendered false and misleading the Registration Statement’s many references to known risks that “if” occurring “might” or “could” affect ADT; and (4) as a result, ADT’s public statements were materially false and misleading at all relevant times.

If you purchased shares of ADT during the Class Period you may move the Court no later than July 20, 2018 to ask the Court to appoint you as lead plaintiff. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you wish to learn more about this action, or if you 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.

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52-Week High/Low

What is a ’52-Week High/Low’

A 52-week high/low is the highest and lowest price that a stock has traded at during the previous year. It is a technical indicator used by some traders and investors who view the 52-week high or low as an important factor in determining a stock’s current value and predicting future price movement. As a stock trades within its 52-week price range (the range that exists between the 52-week low and the 52-week high), these investors may show increased interest as price nears either the high or the low.

BREAKING DOWN ’52-Week High/Low’

One use for the 52-week high/low figure is to help determine an entry or exit point for a given stock. For example, stock traders may buy a stock when the price exceeds its 52-week high, or sell when the price falls below its 52-week low. The rationale behind this strategy is that if price breaks out from the 52-week range (either above or below), there is enough momentum to continue the price move in the same direction.

Determining the 52-Week High/Low

The 52-week high/low is based on the daily closing price for stocks or indexes. Often, a stock may actually breach a 52-week high intra-day, but end up closing below the previous 52-week high, thereby going unrecognized. The same applies when a stock makes a new 52-week low during a trading session but fails to close at a new 52-week low, going unrecognized. The cliché “If a tree falls in the woods and no one hears it, did it really fall?” applies. However, in these cases, the failure to make a new closing 52-week high/low can be very significant.

Intra-Day 52-Week High Reversals

A stock that makes a 52-week high intra-day but closes negative on the day may have topped out, meaning its price may not go much higher in the near term. Often, professionals and institutions use 52-week highs as profit stop levels to lock in gains. Although 52-week highs represent bullish sentiment, there are also plenty of investors prepared to give up some further price appreciation in order to lock in some or all of their gains. Stocks making new 52-week highs are often the most susceptible to profit taking, resulting in pullbacks and trend reversals.

Intra-Day 52-Week Low Reversals

When a stock makes a new 52-week low intra-day but fails to make a new closing 52-week low, it may be a sign of a bottom. This can be determined if it forms a daily hammer candlestick, which occurs when a security trades significantly lower than its opening, but rallies later in the day to close either above or near its opening price. This can trigger short-sellers to start buying to cover their positions while bargain hunters come off the fence. Stocks that make five consecutive daily 52-week lows are most susceptible to seeing strong bounces when a daily hammer forms.

https://www.investopedia.com/terms/1/52weekhighlow.asp?utm_campaign=rss_headlines&utm_source=rss_www&utm_medium=referral

Beijing Haidian District People’s Court Accepts Baidu’s Enforcement Application Requiring Sogou to Comply with Verdict in Traffic Hijacking Case

BEIJING, July 13, 2018 (GLOBE NEWSWIRE) — Baidu, Inc. (NASDAQ:BIDU) applauds the decision today by the Beijing Haidian District People’s Court (or “the Court”) to accept Baidu’s enforcement application, requiring Sogou to comply with the outcome and compensation terms of the Court’s judgment in favor of Baidu in the long-standing traffic hijacking dispute. Baidu submitted the enforcement application in response to Sogou’s failure to meet its compensation obligations as outlined in the final judgment of the case in May 2018.

Baidu commenced the case against Sogou in 2014 after some users discovered that when using the Sogou input method to search for text in the Baidu search box, they would see prompts in a drop-down box, that if clicked upon, would automatically direct them to the relevant search results page of Sogou. Baidu believes that Sogou’s behavior went against the principle of fair competition. It interfered with user experience and infringed upon the rights and interests of Baidu.

In 2015, the Beijing Haidian District People’s Court in their first-instance judgment agreed that Sogou’s traffic hijacking had constituted unfair competition and ordered Sogou to immediately stop the traffic hijacking, publicly apologize on their official website, and compensate Baidu for financial losses of 500,000 yuan. Sogou refused to accept the judgment and made an appeal.

On May 25, 2018, the Beijing Intellectual Property Court made their final judgment which dismissed Sogou’s appeal and upheld the first-instance judgment, which ruled in favor of Baidu. Despite almost a month and a half passing since the final judgment, Sogou has refused to honor the judgment terms and issue an apology. Baidu, therefore, submitted an enforcement application to the Court, which was accepted by the Court in early July.

About Baidu
Baidu, Inc. is the leading Chinese language Internet search provider. Baidu aims to make a complex world simpler through technology. Baidu’s ADSs trade on the NASDAQ Global Select Market under the symbol “BIDU”. Currently, ten ADSs represent one Class A ordinary share.

Media Contact
Baidu International Communications
intlcomm@baidu.com

http://globenewswire.com/news-release/2018/07/14/1537319/0/en/Beijing-Haidian-District-People-s-Court-Accepts-Baidu-s-Enforcement-Application-Requiring-Sogou-to-Comply-with-Verdict-in-Traffic-Hijacking-Case.html

Apple Signs on LG Display as Second OLED Supplier

Over the past year, Apple (NASDAQ: AAPL) has been trying to bring on LG Display (NYSE: LPL) as a secondary supplier for OLED displays. Thus far for iPhone X, Samsung has been the sole supplier, which gives it much stronger negotiating leverage over the Mac maker. Apple has been trying to get pricing concessions from the South Korean conglomerate in recent months, and there has been concern whether or not LG would be able to meet Apple’s rigorous quality standards as well as the deadline for volume production.

A report last month suggested that Apple was making progress with getting LG up to speed. It seems like Apple and LG have now inked that deal.

iPhone X lineup

iPhone X was the first iPhone to adopt OLED displays. Image source: Apple.

Starting off small

DIGITIMES reports that Apple and LG have signed a supply deal that includes both OLED panels as well as traditional LCD displays in the second half of 2018, citing a Korean media report. LG will supply an estimated 3 million to 4 million OLED panels, a slightly higher range than the 2 million to 4 million OLED displays that Bloomberg previously said were to be supplied. LG is also expected to supply 20 million traditional LCD panels.

Apple is widely expected to have three new iPhone models in the pipeline for 2018, including two OLED models and one LCD model. The LCD model will be the more affordable of the trio, with the OLED iPhones being the two new flagships.

As LG’s OLED manufacturing capacity ramps and yield rates improve at its fab, the supplier may be able to source the “majority of 6.5-inch OLED panel” orders with Apple next year, and could deliver upwards of 10 million OLED panels in 2019.

The benefits of having multiple suppliers

If accurate, that would be a very positive development for Apple’s supply chain for a number of reasons. First and foremost is that it would mitigate some of the pricing power that Samsung is currently wielding over Apple. The importance of being able to pit two suppliers against each other to compete on price cannot be overstated. If Apple tries to make OLED iPhones more affordable in an effort to spur more sales, cost savings will be a critical piece of the puzzle.

Additionally, diversifying suppliers is always a smart move in terms of reducing risk. If something goes wrong at one supplier’s operations for any reason, it’s critical to have a backup.

Of course, the strategic benefits of having multiple suppliers for a critical component still largely rely on those suppliers being able to meet both volume and quality requirements. LG is still lagging Samsung in those departments, but LG is catching up.

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Accrued Liability

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What is an ‘Accrued Liability’

An accrued liability is an expense that a business has incurred but has not yet paid. A company can accrue liabilities for any number of obligations, and the accruals can be recorded as either short-term or long-term liabilities on a company’s balance sheet. Payroll taxes, including Social Security, Medicare and federal unemployment taxes are liabilities that can be accrued periodically in preparation for payment before the taxes are due.

BREAKING DOWN ‘Accrued Liability’

An accrued liability is a financial obligation a company incurs during a given period but has not yet paid for in that period. Although the cash flow has yet to occur, the company must still pay for the benefit received. Accrued liabilities only exist when using an accrual method of accounting. The other alternative – the cash method – does not accrue liabilities. Accrued liabilities are entered into the financial records during one period and are typically reversed in the next when paid. This will allow for the actual expense to be recorded at the accurate dollar amount when payment is made in full.

Purpose of Accrued Liability

The concept of an accrued liability relates to timing and the matching principle. Under accrual accounting, all expenses are to be recorded in financial statements in the period in which they are incurred, which may differ from the period in which they are paid. Expenses are recorded in the same period when related revenues are reported to provide financial statement users with accurate information regarding the costs required to generate revenue.

Situations Causing Accrued Liabilities

Accrued liabilities arise due to events that occur during the normal course of business. A company that purchased goods or services on a deferred payment plan will accrue liabilities, because the obligation to pay in the future exists. Employees may have performed work but have not yet received wages. Interest on loans may be accrued if interest fees have been incurred since the previous loan payment. Taxes owed to governments may be accrued because they may not be due until the next tax reporting period.

Example of Accrued Liability

At the end of a calendar year, salary and benefits must be recorded in the appropriate year, regardless of when the pay period ends and when paychecks are distributed. For example, a two-week pay period may extend from December 25 to January 7. Although the salaries and benefits will not be distributed until January, there is still one full week of expenses relating to December. Therefore, the salaries, benefits and taxes incurred from December 25 to December 31 are accrued liabilities. In the financial records, expenses will be debited to reflect an increase in the expenses. Meanwhile, various liabilities will be credited to report the increase in obligations at the end of the year.

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Windstream Amends and Extends Exchange Offers

LITTLE ROCK, Ark., July 13, 2018 (GLOBE NEWSWIRE) — Windstream Holdings, Inc. (Nasdaq:WIN) announced today that its wholly-owned subsidiaries, Windstream Services, LLC (the “Issuer”) and Windstream Finance Corp. (together with the Issuer, the “Issuers”) are amending certain terms of each of its previously commenced offers to exchange (i) 7.75% senior notes due 2020 (“2020 Notes”) for new 9.375% senior second lien notes due 2024 (the “New 2024 Notes”) (the “2020 Exchange Offer”) and (ii) 7.75% senior notes due 2021, 7.50% senior notes due 2022, 7.50% senior notes due 2023, 6 3/8% senior notes due 2023 and 8.75% senior notes due 2024 (collectively, together with the 2020 Notes, the “Old Notes”) for new 9.00% senior second lien notes due 2025 (together with the New 2024 Notes, the “New Notes”) (the “Multi-Tranche Exchange Offers” and, together with the 2020 Exchange Offer, the “Exchange Offers”).

2020 Exchange Offer

The amendment of the 2020 Exchange Offer (i) extends the Early Tender Date and the Expiration Date to 11:59 p.m., New York City time, on July 26, 2018, (ii) increases the interest rate on the New 2024 Notes from 9.375% to 10.500% and makes corresponding changes to the optional redemption prices for the New 2024 Notes and (iii) revises the terms of the New 2024 Notes to provide that certain redemption premiums shall be payable in the event the New 2024 Notes are accelerated or otherwise become due prior to their stated maturity date, including as a result of certain bankruptcy events with respect to the Issuers and certain of their subsidiaries. All other terms and conditions of the 2020 Exchange Offer remain unchanged.  The specific terms of the amendment of the 2020 Exchange Offer will be set forth in a supplement to the applicable offering memorandum.

Multi-Tranche Exchange Offers

The amendment of each Multi-Tranche Exchange Offer extends the Early Tender Date and the Expiration Date for each Multi-Tranche Exchange Offer to 11:59 p.m., New York City time, on July 26, 2018. All other terms and conditions of each Multi-Tranche Exchange Offer remain unchanged.

Each Exchange Offer is a separate offer and, subject to applicable law, may be amended, extended, terminated or withdrawn, either as a whole, or with respect to one or more series of Old Notes, at any time and for any reason, including if any of the conditions described in the applicable offering document are not satisfied or waived by the applicable Expiration Date.

New Notes

Any New Notes issued pursuant to any of the foregoing transactions will not be registered under the Securities Act of 1933, as amended (the “Securities Act”) or any state securities laws. The New Notes may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act and any applicable state securities laws.

Ipreo LLC is acting as the Information and Exchange Agent for the Exchange Offers. Questions or requests for assistance related to the Exchange Offers and for additional copies of the offering documents may be directed to Ipreo LLC at (212) 849-3880 (collect) or (888) 593-9546 (toll-free). You may also contact your broker, dealer, commercial bank, trust company or other nominee for assistance concerning the Exchange Offers.

Holders are advised to check with any bank, securities broker or other intermediary through which they hold any of the notes as to when such intermediary needs to receive instructions from a holder in order for that holder to be able to participate in, or (in the circumstances in which revocation is permitted) revoke their instruction to participate in, the Exchange Offers, before the deadlines specified herein and in the offering documents. The deadlines set by each clearing system for the submission of tender instructions will also be earlier than the relevant deadlines specified herein and in the offering documents.

None of the companies, their boards of directors, their officers, the lead dealer manager, the dealer managers, the information and tabulation agent, the collateral agent or the trustee with respect to the outstanding notes, or any of the companies’ or their respective affiliates, makes any recommendation that that holders tender any outstanding notes in response to the Exchange Offers, and no one has been authorized by any of them to make such a recommendation. Holders must make their own decision as to whether to participate and, if so, the principal amount of outstanding notes to tender.

This press release is for informational purposes only. It shall not constitute an offer to sell or exchange, or a solicitation of an offer to buy or exchange, any notes, nor shall there be any offer, solicitation or sale of any securities in any state or other jurisdiction in which such an offer, solicitation or sale would be unlawful. The Exchange Offers are being made solely pursuant to the offering documents. The Exchange Offers are not being made to holders of notes in any jurisdiction in which the making or acceptance thereof would not be in compliance with the securities, blue sky or other laws of such jurisdiction.

About Windstream

Windstream Holdings, Inc. (NASDAQ:WIN), a FORTUNE 500 company, is a leading provider of advanced network communications and technology solutions. Windstream provides data networking, core transport, security, unified communications and managed services to mid-market, enterprise and wholesale customers across the U.S. The company also offers broadband, entertainment and security services for consumers and small and medium-sized businesses primarily in rural areas in 18 states. Services are delivered over multiple network platforms including a nationwide IP network, our proprietary cloud core architecture and on a local and long-haul fiber network spanning approximately 150,000 miles.

Forward-Looking Statement

Certain statements contained in this press release may constitute forward-looking statements. Forward-looking statements are subject to uncertainties that could cause actual future events and results to differ materially from those expressed in the forward-looking statements. These forward-looking statements are based on estimates, projections, beliefs, and assumptions that Windstream believes are reasonable but are not guarantees of future events and results. Actual future events and results may differ materially from those expressed in these forward-looking statements as a result of a number of important factors, including those described in filings by Windstream with the Securities and Exchange Commission, which can be found at www.sec.gov.

Media Contact:
David Avery
501-748-5876
david.avery@windstream.com 

Investor Contact:
Chris King, 704-319-1025
christopher.c.king@windstream.com

Source: Windstream Holdings, Inc.

http://globenewswire.com/news-release/2018/07/14/1537318/0/en/Windstream-Amends-and-Extends-Exchange-Offers.html

Demand Schedule

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What is the ‘Demand Schedule’

In economics, the demand schedule is a table showing the quantity demanded of a good or service at different price levels. The demand schedule can be graphed as a continuous demand curve on a chart where the Y-axis represents price and the X-axis represents quantity.

BREAKING DOWN ‘Demand Schedule’

The demand schedule most commonly consists of two columns. The first column lists a price for a product in ascending or descending order. The second column lists the quantity of the product that is desired, or demanded, at that price, which is determined based on research of the market. When the data in the demand schedule is graphed to create the demand curve, it provides a visual demonstration of the relationship between price and demand, allowing an easy estimation of the demand for a product or service at any point along the curve.

Demand and Supply Schedules

A demand schedule is typically used in conjunction with a supply schedule, which shows the quantity of a good that would be supplied to the market by producers at given price levels. Graphing both schedules on a chart with the axes described above, it is possible to obtain a graphical representation of the supply and demand dynamics of a particular market. In a typical supply and demand relationship, as the price of a good or service rises, the quantity demanded tends to fall. If all other factors are equal, the market reaches equilibrium where the supply and demand schedules intersect. At this point, the corresponding price is the equilibrium market price, and the corresponding quantity is the equilibrium quantity exchanged in the market.

Additional Factors on Demand

Price is not the sole factor that determines demand for a particular product. Demand may also be affected by the amount of disposable income available, shifts in the quality of the goods in question, effective advertising and even weather patterns. Price changes of related goods or services may also affect demand. If the price of one product rises, demand for a substitute of that product may rise, while a fall in the price of a product may increase demand for its complements. For example, a rise in the price of one brand of coffeemaker may increase the demand for a relatively cheaper coffeemaker produced by a competitor. If the price of all coffeemakers falls, the demand for coffee, a complement to the coffeemaker market, may rise, as consumers take advantage of the price decline in coffeemakers.

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NATIONAL BEVERAGE INVESTIGATION INITIATED by Former Louisiana Attorney General: Kahn Swick & Foti, LLC Investigates the Officers and Directors of National Beverage Corp. – FIZZ

NEW ORLEANS–()–Former Attorney General of Louisiana, Charles C. Foti, Jr., Esq., a partner at the law firm of Kahn Swick & Foti, LLC (“KSF”), announces that KSF has commenced an investigation into National Beverage Corp. (NasdaqGS: FIZZ).

On July 3, 2018, The Wall Street Journal issued a report focusing on accusations of unwanted touching or groping made by two private pilots against the Company’s chairman, chief executive and controlling shareholder, Nick A. Caporella, which allegedly occurred during more than 30 flights spanning 2014 to 2016. The charges resulted in lawsuits being filed by the pilots against Caporella and the Company, one of which was settled by the parties while the other is pending.

KSF’s investigation is focusing on whether National Beverage’s officers and/or directors breached their fiduciary duties to National Beverage’s shareholders or otherwise violated state or federal laws.

If you have information that would assist KSF in its investigation, or have been a long-term holder of National Beverage shares and would like to discuss your legal rights, you may, without obligation or cost to you, call toll-free at 1-877-515-1850 or email KSF Managing Partner Lewis Kahn (lewis.kahn@ksfcounsel.com), or visit https://www.ksfcounsel.com/cases/nasdaqgs-fizz/ to learn more.

About Kahn Swick & Foti, LLC

KSF, whose partners include the Former Louisiana Attorney General Charles C. Foti, Jr., is a law firm focused on securities, antitrust and consumer class actions, along with merger & acquisition and breach of fiduciary litigation against publicly traded companies on behalf of shareholders. The firm has offices in New York, California and Louisiana.

To learn more about KSF, you may visit www.ksfcounsel.com.

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QUALCOMM SHAREHOLDER ALERT: ClaimsFiler Reminds Investors with Losses in Excess of $100,000 of Lead Plaintiff Deadline in Class Action Lawsuit Against QUALCOMM Incorporated – QCOM

NEW ORLEANS–()–ClaimsFiler, a FREE shareholder information service, reminds investors that they have until August 7, 2018 to file lead plaintiff applications in a securities class action lawsuit against QUALCOMM Incorporated (NasdaqGS: QCOM), if they purchased the Company’s securities between January 31, 2018 and March 12, 2018, inclusive (the “Class Period”). This action is pending in the United States District Court for the Southern District of California.

Get Help

QUALCOMM investors should visit us at https://www.claimsfiler.com/cases/view-qualcomm-incorporated-securities-litigation-1 or call to speak to our claim center toll-free at (844) 367-9658.

About the Lawsuit

QUALCOMM and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.

The alleged false and misleading statements and omissions include, but are not limited to, that: (i) the Company had attempted to hinder the efforts of Broadcom to acquire it by secretly filing a unilateral request with the Committee on Foreign Investment in the United States (“CFIUS”) to investigate Broadcom, and (ii) as a result of the foregoing, QUALCOMM’s financial statements were materially false and misleading at all relevant times.

About ClaimsFiler

ClaimsFiler has a single mission: to serve as the information source to help retail investors recover their share of billions of dollars from securities class action settlements. ClaimsFiler’s team of experts monitor the securities class action landscape and cull information from a variety of sources to ensure comprehensive coverage across a broad range of financial instruments.

To learn more about ClaimsFiler, visit www.claimsfiler.com.

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Adjusted Funds From Operations – AFFO

What are ‘Adjusted Funds From Operations – AFFO’

Adjusted funds from operations (AFFO) refers to the financial performance measure primarily used in the analysis of real estate investment trusts (REITs). The AFFO of a REIT, though subject to varying methods of computation, is generally equal to the trust’s funds from operations (FFO) with adjustments made for recurring capital expenditures used to maintain the quality of the REIT’s underlying assets. The calculation takes in the adjustment to GAAP straight-lining of rent, leasing costs and other material factors.

BREAKING DOWN ‘Adjusted Funds From Operations – AFFO’

Regardless of how industry professionals choose to compute adjusted funds from operations (AFFO), it is considered to be a more accurate measure of residual cash flow for shareholders than simple FFO because it takes into consideration rent increases and additional costs incurred by the REIT. This provides for a more accurate base number when estimating present values and a better predictor of the REIT’s future ability to pay dividends. This is a non-GAAP measure.

Calculating Adjusted Funds From Operations

Before calculating the AFFO, an analyst must first determine the REIT’s funds from operations (FFO). The FFO measures cash flow from a specified list of activities. FFO reflects the impact from the REIT’s leasing and acquisition activity, as well as interest costs. FFO takes into account the REIT’s net income including amortization and depreciation, but it excludes the capital gains from property sales. The reasons these gains are not included is that they are one time events and generally do not have a long-term effect on the REIT’s future earnings potential.

The formula for FFO is:

FFO = net income + amortization + depreciation – capital gains from property sales

Once the FFO is determined, the AFFO can be calculated. The formula for AFFO is:

AFFO = FFO + rent increases – capital expenditures – routine maintenance amounts

Example of an AFFO Calculation

As an example of the AFFO calculation, assume the following: a REIT had $2 million in net income over the last reporting period. During that time, it earned $400,000 from the sale of one of its properties and lost $100,000 from the sale of another. It reported $35,000 of amortization and $50,000 of depreciation. During the period, net rent increases were $40,000, capital expenditures were $75,000 and routine maintenance amounted to $30,000.

Given this information the FFO can be calculated as:

FFO = $2,000,000 + $35,000 + $50,000 – ($400,000 – $100,000) = $1,785,000

From this, the AFFO is calculated as:

AFFO = FFO + $40,000 – $75,000 – $30,000 = $1,785,000 – $65,000 = $1,720,000

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Common Size Balance Sheet

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What is a ‘Common Size Balance Sheet’

A common size balance sheet is a balance sheet that displays both the numeric value and relative percentage for total assets, total liabilities and equity accounts. Common size balance sheets are used by internal and external analysts and are not a reporting requirement of generally accepted accounting principles (GAAP).

Example of common size balance sheet data.

BREAKING DOWN ‘Common Size Balance Sheet’

A common size balance sheet allows for the relative level of each asset, liability and equity account to be quickly analyzed. Any single asset line item is compared to the value of total assets. Likewise, any single liability is compared to the value of total liabilities and any equity account is compared to the value of total equity. For this reason, each major classification of account will equal 100%, as all smaller components will add up to the major account classification.

Example of Common Size Balance Sheet

A company has $8 million in total assets, $5 million in total liabilities and $3 million in total equity. The company also has $1 million in cash. The common size balance sheet reports the total assets first in order of liquidity. Liquidity refers to how quickly an asset can be turned into cash without affecting its value. For this reason, the top line of the financial statement would list the cash account with a value of $1 million. In addition, the cash represents $1 million of the total $8 million in total assets. Therefore, along with reporting the dollar amount of cash, the common size financial statement includes a column which reports that cash represents 12.5% ($1 million divided by $8 million) of total assets.

Reporting Requirements

Common size balance sheets are not required under generally accepted accounting principles, nor is the percentage information presented in these financial statements required by any regulatory agency. Although the information presented is useful to financial institutions and other lenders, a common size balance sheet is typically not required during the application for a loan.

Usefulness of Common Size Balance Sheet

Although common size balance sheets are most typically utilized by internal management, they provide useful information to external parties including independent auditors. The most valuable aspect of a common size balance sheet is that it supports ease of comparability. The common size balance sheet shows the make up of a business’s various assets and liabilities through the presentation of percentages, in addition to absolute dollar values. This affords the ability to quickly compare the historical trend of various line items or categories, and provides a baseline for comparison of two firms of different market capitalizations. Additionally, the relative percentages may be compared across companies and industries.

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Reserve Ratio

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What is the ‘Reserve Ratio’

The reserve ratio is the portion of reservable liabilities that depository institutions must hold onto, rather than lend out or invest. This is a requirement determined by the country’s central bank, which in the United States is the Federal Reserve. As a simplistic example, assume the Federal Reserve determined the reserve ratio to be 11%. This means if a bank has deposits of $1 billion, it is required to have $110 million on reserve.

BREAKING DOWN ‘Reserve Ratio’

Depository institutions in the United States are required to hold reserves against their total reservable liabilities, which cannot be lent out by the bank. Reservable liabilities include net transaction accounts, nonpersonal time deposits and Eurocurrency liabilities. The reserve amount is referred to as the reserve requirement, and is expressed as a percentage known as the reserve ratio. The reserve ratio is specified by the Federal Reserve Board’s Regulation D. Regulation D created a set of uniform reserve requirements for all depository institutions with transaction accounts, and requires banks to provide regular reports to the Federal Reserve.

Banks must hold reserves either as cash in their vaults or as deposits with a Federal Reserve Bank. On Oct. 1, 2008, the Federal Reserve began paying interest to banks on these reserves. This rate is referred to as the interest rate on required reserves (IORR). There is also an interest rate on excess reserves (IOER), which is paid on any funds a bank deposits with the Federal Reserve in excess of their reserve requirement.

Reserve Ratio Guidelines

Within limits specified by law, the Board of Governors of the Federal Reserve has the sole authority over changes in reserve requirements. In January 2018, the Fed updated its reserve requirements for depository institutions of different sizes. Banks with more than $122.3 million in net transaction accounts must maintain a reserve of 10% of net transaction accounts. Banks with $16 million to $122.3 million must reserve 3% of net transaction accounts. Banks with net transaction accounts of $16 million or less do not have a reserve requirement. The majority of banks in the United States fall into the first category. The Fed set a 0% requirement for nonpersonal time deposits and Eurocurrency liabilities.

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Gopher Protocol Issues Press Release

SANTA MONICA, CA, July 13, 2018 (GLOBE NEWSWIRE) — Gopher Protocol Inc. (OTCQB: GOPH) (“Gopher” or the “Company”), a company which specializes in the creation of Internet of Things (IoT) and Artificial Intelligence enabled mobile technologies today, pursuant to the requirements of the OTC Markets Group and in order to maintain the Company’s quotation on the OTCQB, announced that, on July 10, 2018, it was made aware by OTC Markets of certain undated promotional activities surrounding the Company’s common stock.  

Gopher Protocol Issues Press Release on Company’s website:

Please click on link below:

http://gopherprotocol.com/wp-content/uploads/2018/07/GopherDocJuly-.pdf

About Gopher Protocol Inc.

Gopher Protocol Inc. (OTCQB: GOPH) (“Gopher”) (http://gopherprotocol.com/) is a development-stage company which consider itself Native IoT creator, developing Internet of Things (IoT) and Artificial Intelligence enabled mobile technology.  Gopher has a portfolio of Intellectual Property that when commercialized will include smart microchips, mobile application software and supporting cloud software.  The system contemplates the creation of a global network.  The core of the system will be its advanced microchip technology that can be installed in any mobile device worldwide.  Gopher envisions this system as an internal, private network between all enabled mobile devices providing shared processing, advanced mobile database management/sharing and enhanced mobile features.

Forward-Looking Statements

Certain statements contained in this press release may constitute “forward-looking statements.”  Forward-looking statements provide current expectations of future events based on certain assumptions and include any statement that does not directly relate to any historical or current fact.  Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors as disclosed in our filings with the Securities and Exchange Commission located at their website (http://www.sec.gov).  In addition to these factors, actual future performance, outcomes, and results may differ materially because of more general factors including (without limitation) general industry and market conditions and growth rates, economic conditions, governmental and public policy changes, the Company’s ability to raise capital on acceptable terms, if at all, the Company’s successful development of its products and the integration into its existing products and the commercial acceptance of the Company’s products.  The forward-looking statements included in this press release represent the Company’s views as of the date of this press release and these views could change.  However, while the Company may elect to update these forward-looking statements at some point in the future, the Company specifically disclaims any obligation to do so.  These forward-looking statements should not be relied upon as representing the Company’s views as of any date subsequent to the date of the press release.

Contact: Mansour Khatib, CEO
Gopher Protocol Inc. 
VM Only 888-685-7336 Media: press@gopherprotocol.com

http://globenewswire.com/news-release/2018/07/14/1537314/0/en/Gopher-Protocol-Issues-Press-Release.html

3 Warren Buffett Stocks Worth Buying Now

Warren Buffett has built a reputation as one of history’s most successful investors, leading his company Berkshire Hathaway to compound annualized returns of 21% over the last 50 years, which absolutely trounces the S&P 500 ‘s average annual return of 10% over the same stretch. That’s the kind of incredible performance most investors would be thrilled to replicate, and it should come as no surprise that Buffett-backed stocks tend to attract extra attention.

In this roundtable discussion, three Motley Fool writers profile a stock in the Berkshire portfolio that they believe is worth adding to yours. Read on to see why they picked Teva Pharmaceutical Industries (NYSE: TEVA) , Apple (NASDAQ: AAPL) , and Sanofi SA (NYSE: SNE) .

A pen sitting on top of two notebooks displaying charts and other information.

Image source: Getty Images.

A great dividend stock

George Budwell  (Sanofi): French drugmaker Sanofi has been a staple of Warren Buffett’s top-notch portfolio since 2006 — and for a very good reason. Specifically, this pharma giant is currently entering its 24th consecutive year of dividend growth, making it one of the most dependable dividend growth stocks in the entire healthcare sector. And with a forward-looking yield of 4.38%, Sanofi also pays out one of the richest dividends within its big pharma peer group to boot.

Perhaps most impressively, though, Sanofi has kept its top tier dividend growing even in the face of serious threats to its top line. The drugmaker, for example, lost exclusivity for its flagship diabetes medication Lantus in 2015.

How has Sanofi kept its dividend program on track during this turbulent period? The key has been its extremely productive research partnership with Regeneron Pharmaceuticals (NASDAQ: REGN) . This partnership has led to the FDA approvals for cholesterol medicine Praluent and eczema treatment Dupixent in recent years. As a result, Sanofi’s top line is forecast to rise at a compound annual growth rate of 4% over the next six consecutive years. That’s not too shabby for a company with a market cap of a whopping $103 billion.

Sanofi has also been investing heavily in its rare blood disorder franchise by acquiring Ablynx and Biogen ‘s hemophilia spin-off Bioverativ to start the year. These back-to-back acquisitions last January brought in multiple late-stage assets, as well as a number of intriguing earlier-stage compounds that could contribute significantly to the biopharma’s growth over the next decade.

In all, Sanofi has done an admirable job of setting itself up for the long term by bringing numerous high-value assets into the fold through external licensing deals or direct acquisitions. And this super aggressive approach to pipeline development should, in turn, keep the drugmaker’s top-shelf dividend program headed in the right direction.

Down but not out generic prescriptions

Nicholas Rossolillo (Teva Pharmaceutical Industries): During the first quarter of 2018, Warren Buffett nearly doubled his bet that generic-drug maker Teva would be able to pull off a turnaround. That may seem like a dubious gamble after a disastrous 2017 that included legal trouble, falling generic prescription prices, and a mountain of debt on the books after the company bought out a couple of rival drugmakers. To make matters worse, the dividend was eliminated along with about 25% of the company’s workforce at the end of 2017 to help shore up cash flow.

At this point, Teva looks a lot more like a distressed asset than it does a value but there’s light at the end of the dark tunnel for the Israeli pharma company. Under its new management team, a $1.03-per-share profit was turned in the first quarter of 2018, and projections for full-year profitability were also given. Teva also said it is on track to save $1.5 billion in expenses this year and $3.0 billion by the end of 2019. That’s a big number considering trailing-one-year revenues are just shy of $22 billion.

Thus, it would appear that the scandal-ridden drugmaker is on a clear path to recovery, at least when it comes to shoring up the bottom line. But what about those declining generic prices? Revenues were down 10% in the first quarter compared to a year ago, but the expectation is that pricing pressure will begin to ease later in 2018. Plus, Buffett’s bet on Teva seems to jive with Berkshire’s team-up with Amazon and JPMorgan Chase to create a company to help lower the cost of healthcare in America . With those powerful names looking to disrupt the status quo, Teva could be a big beneficiary in the years ahead.

Berkshire’s biggest holding

Keith Noonan  (Apple): For an investor that was once famously averse to technology stocks, Buffett’s moves to make Apple his company’s largest holding stand out. Also notable is the fact that the Oracle of Omaha only started investing in Apple in 2016.

At the heart of Berkshire’s decision to load up on Apple was the company’s stellar brand strength and the moat created by the interplay between its easy-to-use hardware and software. Those characteristics have helped the Cupertino-based company build a customer base that’s significantly more valuable than those on competing platforms, with the average user on the iOS mobile operating system spending roughly 2.5 times more on in-app purchases than the average user on Alphabet ‘s Android platform.

That’s an advantage that’s helping the iCompany deliver rapid growth in its services segment — a particularly high-margin section of the business that thrives on taking a commission of software through its app store and its own internally produced offerings. Sales for the segment climbed roughly 31% year over year in the company’s last quarter, helping to increase total revenue by 16% and earnings by 30%. It looks like there’s still room for growth ahead.

Some industry watchers expect that the head starts enjoyed by Alphabet and Amazon in the smart-speaker space will prevent Apple from building a strong position in the market and the broader smart-home ecosystem. It’s true that Apple has an uphill road to navigate in that space because of its later entry and some current feature disparity, but there’s a good chance the company’s stellar brand strength and dedicated fans will allow it succeed there and further benefit from its high-value customer base.

Apple also has appeal as a dividend-growth stock. Shares yield roughly 1.5%. Last month, the company delivered a 16% dividend increase, bringing its payout growth over the last five years to roughly 68%. With a strong brand, remaining opportunities in high-growth product and geographic market segments, and a non-prohibitive forward earnings multiple of roughly 16.5, Apple is a Buffett stock still worth buying at today’s prices.

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Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool’s board of directors. George Budwell has no position in any of the stocks mentioned. Keith Noonan has no position in any of the stocks mentioned. Nicholas Rossolillo owns shares of Alphabet (A and C shares), Apple, and Berkshire Hathaway (B shares). The Motley Fool owns shares of and recommends Alphabet (A and C shares) and Apple. The Motley Fool has the following options: long January 2020 $150 calls on Apple and short January 2020 $155 calls on Apple. The Motley Fool recommends Berkshire Hathaway (B shares). The Motley Fool has a disclosure policy .

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.




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The Law Offices of Howard G. Smith Reminds Investors of July 19th Deadline in the Class Action Lawsuit Against PPG Industries, Inc. (PPG)

BENSALEM, Pa.–()–Law Offices of Howard G. Smith reminds investors of the July 19, 2018 deadline to file a lead plaintiff motion in the class action filed on behalf of investors that purchased PPG Industries, Inc. (“PPG” or the “Company”) (NYSE: PPG) securities between April 24, 2017 and May 10, 2018, inclusive (the “Class Period”). PPG investors have until July 19, 2018 to file a lead plaintiff motion.

Investors suffering losses on their PPG investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at 888-638-4847 or by email to howardsmith@howardsmithlaw.com.

On May 10, 2018, after the market closed, PPG disclosed that it would be unable to file its quarterly report for the quarter ended March 31, 2018 on time. The Company further disclosed that, during an internal investigation into the Company’s accounting, it identified approximately $1.4 million in expenses that should have been accrued in the first quarter of 2018, and suspected there may have been $5 million in expenses that it improperly accrued in the first quarter.

On this news, PPG’s share price fell $5.68 per share, or more than 5%, to close at $100.43 per share on May 11, 2018, thereby injuring investors.

The complaint filed in this class action alleges that the Company made false and misleading statements to the marketplace. It alleges that the Company’s consolidated financial statements for the year ending December 31, 2017, and the quarterly statements of 2017 all contained improper accounting entries and could not be relied upon by the investing public. PPG also failed to sustain appropriate internal controls. As a result, the Company’s financial statements were materially false and misleading throughout the class period and did not accurately reflect the results of business operations and the financial health of PPG.

If you purchased shares of PPG during the Class Period you may move the Court no later than July 19, 2018 to ask the Court to appoint you as lead plaintiff. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you wish to learn more about this action, or if you 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.

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INVESTOR ALERT: Law Offices of Howard G. Smith Announces Investigation on Behalf of Mednax, Inc. Investors

BENSALEM, Pa.–()–Law Offices of Howard G. Smith announces an investigation on behalf of Mednax, Inc. (“Mednax” or the “Company) (NYSE: MD) investors concerning the Company and its officers’ possible violations of federal securities laws.

On April 20, 2017, Mednax announced poor financial results for the first quarter of 2017, including missed earnings. Mednax also reported that “[s]ame-unit revenue from net reimbursement-related factors is expected to decline by 0.6 percent for the first quarter of 2017, compared to the first quarter of 2016, driven by a 90 basis point payor mix shift to government payors that impacted same-unit pricing negatively by 150 basis points.” On this news, Mednax’s share price fell $5.39, or 8.1%, to close at $61.30 per share on April 20, 2017.

Then, on July 28, 2017, during its second quarter earnings call, Mednax announced that the Company had failed to complete acquisitions of anesthesiologist practices during the quarter and that any future anesthesiologist acquisitions were unlikely, citing the “challenging” payor mix combined with “continued … growth in compensation expense for nurse anesthetists.” On this news, Mednax’s share price fell $8.76 or 15.5%, to close at $47.73 per share on July 28, 2017, thereby further injuring investors.

If you purchased Mednax 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.

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McDonald’s Pulls Salads From 3,000 Restaurants Amid Illnesses

McDonald’s Corp. MCD -0.38% removed salads from 3,000 restaurants in 14 states after the products were linked to gastrointestinal illnesses in Iowa and Illinois.

Iowa’s Department of Public Health said Thursday 15 people in that state reported getting sick with cyclospora infections after eating McDonald’s salads between late June and early July.

The Illinois Department of Public Health said 90 people have been sickened by cyclosporiasis, and that a quarter of them reported eating salads from McDonald’s before becoming ill.

The Centers for Disease Control and Prevention said late Friday that 61 people in seven states, including Iowa and Illinois, have become ill from cyclosporiasis linked to McDonald’s salads, with two hospitalizations. There have been no deaths.

The Food and Drug Administration said it is working with McDonald’s to identify the common ingredients in the salads eaten by those who became sick and to trace those ingredients through the supply chain.

McDonald’s said it had pulled the salads out of “an abundance of caution,” from restaurants that received shipments from a supplier that had distributed the salads to restaurants in Iowa and Illinois. The 3,000 restaurants are located in Illinois, Iowa, Indiana, Wisconsin, Michigan, Ohio, Minnesota, Nebraska, South Dakota, Montana, North Dakota, Kentucky, West Virginia and Missouri.

The CDC said in June that it was investigating a multistate outbreak of cyclosporiasis linked to vegetable trays made by Del Monte Fresh Produce N.A. Inc. As of July 12, the CDC said 227 people had been sickened who ate the company’s prepackaged vegetable trays which included broccoli, cauliflower, carrots and dill dip.

Del Monte in June voluntarily recalled a limited quantity of its vegetable trays sold to select retailers—including Kwik Trip Inc. and Peapod LLC—in six Midwestern states.

A spokesman for the FDA said there is no evidence to suggest the cyclospora illnesses linked to McDonald’s salads and Del Monte vegetable trays are related.

McDonald’s said the supplier in question isn’t Del Monte.

McDonald’s said it plans to switch to another lettuce-blend supplier and that it is cooperating with state and federal health officials.

Cyclospora are parasites that can contaminate food or water and are common in some tropical and subtropical regions.  Food-borne outbreaks of cyclosporiasis in the U.S. are rare and have been linked to various types of imported produce, according to the CDC. Symptoms of such an infection include diarrhea, vomiting and fatigue.

Write to Julie Jargon at julie.jargon@wsj.com and Jesse Newman at jesse.newman@wsj.com

Appeared in the July 14, 2018, print edition as ‘McDonald’s Holds Salads From Menu.’

https://www.wsj.com/articles/mcdonalds-pulls-salads-from-3-000-restaurants-amid-cyclospora-illnesses-1531524254?mod=pls_whats_news_us_business_f