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On Running Shoes Cloudflow 2.0 Review
Abbreviated Pundit Roundup: 2021? Good riddance.
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TIME:
Biden’s Been Counted Out Before—And Loves To Prove the Haters Wrong
It’s been an easy idea to hold over the years, a tempting one at times, really: Joe Biden is dunzo and isn’t coming back from this setback. The 1972 death of his wife and daughter, before he even got sworn into office. The plagiarism scandal that ushered him from the 1988 presidential race. A less-than-1% showing in Iowa 20 years later. The death of Beau Biden. A “gut punch” of a fourth-place finish in Iowa in 2020. And yet Biden got up off the mat every time. Joe Biden doesn’t always win, but he certainly doesn’t quit.
Dana Milbank/WaPo:
This is the worst economy we never had
Fox News told viewers that “Christmas presents for your kids may not arrive on time or even at all” (Sean Hannity), that the president is “the Biden Who Stole Christmas” (Laura Ingraham) and that Biden is “facing a nightmare come Christmastime,” when “gifts are going to cost a fortune, and that’s even if you’re lucky enough to snag anything” (Jesse Watters).
And then — a Christmas miracle!
Holiday retail sales were the highest ever, jumping 8.5 percent from last year and nearly 11 percent from pre-pandemic 2019, as “consumers splurged throughout the season,” Mastercard reported Sunday.
Retired general warns the U.S. military could lead a coup after the 2024 election
How worried is he on a scale of 1 to 10?
I see it as low probability, high impact. I hesitate to put a number on it, but it’s an eventuality that we need to prepare for. In the military, we do a lot of war-gaming to ferret out what might happen. You may have heard of the Transition Integrity Project that occurred about six months before the last election. We played four scenarios. And what we did not play is a U.S. military compromised – not to the degree that the United States is compromised today, as far as 39% of the Republican Party refusing to accept President Biden as president – but a compromise nonetheless. So, we advocate that that particular scenario needs to be addressed in a future war game held well in advance of 2024.
Anatomy of a death threat
Trump supporters have waged a campaign of intimidation against the state and local officials who administer U.S. elections. This visual analysis explores hundreds of menacing messages – and explains why they’re difficult to counter.
About 110 of the 850 messages Reuters collected appear to meet what law professors and attorneys say is the federal threshold for prosecution. That would make them so-called true threats, generally defined as those intended to put a person in fear of death or bodily harm or to inflict severe emotional distress. In many other messages, harassers call for violence without threatening to act themselves. Arrests for threatening election workers have been rare, even in cases of true threats.
WaPo:
‘Crazy’ omicron surge could peak soon, but the virus is unpredictable as the pandemic enters its third year
Columbia University researchers estimate infections could top out during the week of Jan. 9
But this has always been an unpredictable virus, going back to when it first appeared two years ago, on Dec. 31, 2019. The virus had probably been spreading for a month or more, but that was the day infectious-disease experts around the world began hearing by email and text about an outbreak of a mysterious pathogen causing pneumonia-like respiratory infections in Wuhan, China.
No one on that day could have known that this pathogen, initially called the “novel coronavirus” and later named SARS-CoV-2, would trigger the most brutal pandemic in a century. And no one today knows when it will be over.
Forecasts of how the pandemic will play out have repeatedly been incorrect, to the point that some modelers have stopped trying to make caseload projections four weeks out, instead limiting their forecasts to one week ahead.
Because beyond a week, who knows?
James Hohmann/WaPo:
Biden should stop pretending his resistance to a vax-to-fly rule is about public health
The same authority that allows Biden to require passengers to wear masks on domestic flights, which he has extended through March 18, also allows him to require vaccinations. He told ABC News last Wednesday that he has considered doing so but has been told by staff that it’s not necessary. “Even with omicron,” Biden said. “That’s the recommendation I got so far from the team.”
This is disingenuous at best, dishonest at worst. Public health experts inside and outside government have favored requiring vaccinations to fly since the summer. In September, White House Chief of Staff Ron Klain said that a vaccine mandate for flying might be unnecessary because the administration’s mandates for employers to require vaccination would be a more effective way to achieve the same result. But that rule has been put on hold pending Supreme Court review.
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3 Knocked-Down Stocks That Are Likely to Get Off the Mat in 2022
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These stocks disappointed investors but still have trends on their side
There’s no doubt that growth investors have not been disappointed with the market performance over the last two years. Even a bear market in the early part of 2021 didn’t last long. And that was good news for many growth stocks.
Depositphotos.com contributor/Depositphotos.com – MarketBeat
However, every investor can relate to picking one or more stocks that didn’t pan out. Coming off a disruptive year in 2020, there were many stocks that were among the largest pandemic winners that have had a difficult time repeating that performance in 2022.
Here are three stocks whose fortunes didn’t match up with investors’ expectations in 2021 but have a bullish outlook in 2022.
DocuSign (DOCU)
In fairness, until the last month of the year, DocuSign (NASDAQ: DOCU) was having another great year. In mid-summer, DOCU stock was trading at its 52-week high and was up 41.5% for the year. But since then, the stock is down 50% and most of that has come in December with the stock down 32.9%.
One concern that analysts have is that DocuSign’s growth is not sustainable. So even though the company beat on both earnings and revenue, it wasn’t enough to overcome concerns of slower growth in the year ahead.
But there are two things that opportunistic investors should keep in mind. First, DocuSign is still retaining its customer base. And that’s important because some analysts believe that the company’s e-signature services do not have a wide enough moat to stand out from the competition.
And second, the idea that DocuSign was a pandemic stock is a misplaced narrative. DocuSign was growing heading into the pandemic. While it’s fair to say that the pandemic accelerated that growth, the company’s services aren’t about public health concerns, but about common sense and convenience.
Despite several lowered price targets, DOCU stock still has a consensus price target of $248.56 which is a 58% gain from its current price.
Teladoc Health (TDOC)
Unlike DocuSign, Teladoc Health (NASDAQ: TDOC) was clearly a pandemic winner. The company was growing revenue at a steady pace prior to the pandemic. However, when patients were literally unable to visit their physicians in person, Teladoc saw strong revenue growth.
But the company is not yet profitable, and investors are concerned about the company’s ability to continue its rate of revenue growth.
However, for investors who are willing to take a step back, the fundamental business case for Teladoc Health remains strong. First, the idea of videoconferencing with your physician is not necessarily unwelcome; just uncommon. For sure, it’s not a solution that fits every situation, but it can be an efficient, cost-effective option for many patients, particularly those with chronic conditions. And that means that health insurers will be strongly support Teladoc’s business model.
Second, one of the drags on earnings was the company’s acquisition of Livongo Health. However, Livongo’s expertise in artificial intelligence will put another tool in the physician’s toolbox in terms of helping patients manage their personal health.
Analysts give TDOC stock a 12-month price target of $178.75 which would be and 87% gain from the stock’s current price.
Skillz (SKLZ)
Skillz (NYSE: SKLZ) went public in May 2020 and by the end of 2020 SKLZ stock had doubled. The mobile game platform operator was part of the meme stock movement and soared to over $40 a share in early February.
But that seems like ancient history to investors is trading below the psychologically important $10 level. And analysts will point to the fact that this is still a young company that is currently burning through more money than its bringing in. That was a risk many investors were willing to take in the first part of the year, but not so much today.
However, if you have a long-term timeframe, Skillz has an intriguing business model. The company is committed to giving game developers a platform to launch their content. And Skillz claims that its platform enables developers to monetize their content 5x better than relying on ads or in-app purchases.
And the fact that the Skillz platform hosts and operates gaming tournaments promotes social competition with up to 40 million users on the platform at a time.
Analysts give SKLZ stock a consensus price target of $23.06 which would be a gain of 195% from its current price.
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Thailand offers duty-free quota-free facility to LDCs till 2026
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Thailand recently offered duty-free, quota-free (DFQF) facility to products from all least developed countries, including Bangladesh, in its market until 2026 to enhance bilateral trade volume. The earlier such bilateral arrangement expired on December 31, 2020.
The issue was discussed at the fifth Joint Trade Committee (JTC) meeting between Thailand and Bangladesh in Bangkok on January 8, 2020. The sixth JTC meeting between the two countries is supposed to be held in Dhaka this month.
But the Thai authority concerned informed Dhaka that it would take time, as the scheme had involvement of 46 countries. Thailand also suggested signing a bilateral free trade agreement (FTA) for a quick solution in this connection.
Thailand recently offered duty-free, quota-free facility (DFQF) to products from all least developed countries, including Bangladesh, in its market until 2026 to enhance bilateral trade volume. The earlier such bilateral arrangement expired on December 31, 2020. In 2019, Bangladesh utilised benefits of the DFQF scheme to the tune of $541,000.
Bilateral trade between Bangladesh and Thailand dropped to $910.05 million in 2020 from $1,067.90 million in 2019.
In 2019, Bangladesh utilised benefits of the DFQF scheme to the tune of $541,000. In 2019, the volume of Thailand’s exports to Bangladesh amounted to $987.16 million, while that of Bangladesh to Thailand was $80.74 million, according to Bangla media reports.
Bangladesh exports products like knitwear, household articles, sewing thread, and jute rope and bags to Thailand.
Bangladesh would graduate from the least-developed country (LDC) status in 2026.
Fibre2Fashion News Desk (DS)
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How Many of Us Actually Stick to Our New Year’s Resolutions? (Infographic)
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Opinions expressed by Entrepreneur contributors are their own.
The start of a new year seems to be the perfect time to take stock of where we are in our lives and the things we’d like to improve upon. Often, though, our best intentions are no match for daily life and we slide back into old patterns.
The folks at beauty site FeelUnique.com conducted a survey last month where they asked 2,000 people about their New Year’s resolutions. The results were telling: Only 32 percent of people who made resolutions stuck with them for a month or more. That might be why 48 percent of men and 39 percent of women are choosing not to make any resolutions at all.
Take a look at the infographic below, which features more nuggets from the study, and pay special attention to the tips on how to make your New Year’s Eve promises last. Stick with it, and next year, that’ll be something extra to celebrate.
Click to Enlarge+
Related: Want to Start Building Momentum for 2015? Start Your Resolutions Now.
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India vs Afghanistan live score over 1st T20I T20 16 20 updates
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Follow the India vs Afghanistan, T20I 2024 live cricket score on Sports.NDTV.com. After 20.0 overs, Afghanistan are 158/5. Get live score, ball by ball commentary and much more. Keep track of India vs Afghanistan, T20I 2024 today match between India and Afghanistan. Everything related to India and Afghanistan match will be available on Sports.NDTV.com. Stay updated with India vs Afghanistan live score. Do check for India vs Afghanistan scorecard. You can get scorecard updates, match related facts. Get quick live updates with ads, Sports.NDTV.com, which is the perfect destination for live cricket score.
Right then, India will be the happier of the two sides at the halfway mark and they will be confident enough to gun down this total.
Axar Patel is down for a chat. He starts by saying that he couldn’t feel the ball during the match nor the mic in hand as the weather is pretty cold. He further talks about his bowling effort and says that they knew the weather was going to be cold and challenging but he had to only focus on what had to be done with the ball and put it in the right areas and do well for the team.
Despite failing to finish strongly with the ball, Rohit Sharma and India will be pleased with their bowling effort. There were a few lapses in the field but all in all, it was a clinical bowling display. The Indian new ball pair of Arshdeep Singh and Mukesh Kumar were spot on with their lines and lengths and did not give much away to the Afghan openers. Introduced inside the Powerplay, Axar Patel bowled with excellent control as well and kept the pressure on the opposition. Washington Sundar was expensive in his second over, but Axar Patel and Shivam Dube combined well to pick up wickets after the Powerplay to pile the misery on Afghanistan. After the drinks break, India let it slip a bit and leaked boundaries. Mukesh Kumar fought back in his last over to get rid of both set batters to wrestle the initiative back in India’s favour.
Late flourish from Najibullah Zadran and Karim Janat has taken Afghanistan to 158, their highest total against India in T20Is! 28 runs came off the last two overs to help Afghanistan end up with a competitive total on the board. After being put into bat, it was a watchful start from Afghanistan. Ibrahim Zadran and Rahmanullah Gurbaz were cautious in their approach and took their own sweet time to assess the surface. However, in the process of getting a move on, both openers perished in quick succession. Rahmat Shah could not do much either in his maiden T20I inning as Afghanistan found themselves struggling to get any momentum at the halfway mark. Mohammad Nabi and Azmatullah Omarzai then got together and provided some much-needed impetus to the Afghan innings. The duo took the attack to the opposition during the quickfire 68-run stand. Just when the visitors were starting to set themselves up for a big finish, both set batters got out in the same over. Thanks to cameos from Najibullah Zadran and Karim Janat, Afghanistan were able to cross 150 and finish on a high.
19.6 overs (4 Runs) FOUR! Arshdeep Singh nails the yorker but somehow Najibullah Zadran has squeezed it to the fence and Afghanistan end on a high as they get 15 runs off the final over. This is bowled right at the toes, Zadran stays deep in the crease and looks to jam it out but the ball goes off the inside edge and beats fine leg to his left. Afghanistan finish with 158/5 on the board!
19.5 overs (4 Runs) DROPPED AND FOUR! Excellent effort from Tilak Varma to get a hand on it but he ends up palming it into the ropes. Banged in very short and outside off, Najibullah Zadran makes a bit of room and looks to uppercut it over third man but ends up slicing it over backward point. Varma runs back from inside the ring and dives in over his shoulder getting both hands on it and the ball just pops out before going into the fence.
19.4 overs (1 Run) Full and wide again but in the slot, Karim Janat stays deep in the crease and thumps it down to long off for just a single. 150 now comes up for Afghanistan.
19.4 overs (1 Run) WIDE! A bit too full and wide this time and Karim Janat stays put as the umpire calls it a wide.
19.3 overs (0 Run) Karim Janat pre-meditates a bit and moves past the off stump. Arshdeep Singh follows him with a full and wide one that goes past the tramline. Janat looks to open the bat face and guide it away but misses.
19.2 overs (1 Run) Gets it full and right in and around the toes, Najibullah Zadran manages to get an inside edge off the pads down to fine leg for a single.
19.1 overs (4 Runs) FOUR! Put away with ease and this is now Afghanistan’s highest total against India in T20Is. Looks for the inswinging yorker from over the wicket but misses his mark and serves a full toss that angles down the leg side. Najibullah Zadran flicks it away fine enough and beats deep backward square leg for a boundary.
18.6 overs (4 Runs) FOUR! Two in a row and that deserved to be put away! Drags the length a long way and angles it well across the right-hander. Karim Janat hangs back and reaches out before slapping away well in front of square on the off side for a boundary.
18.5 overs (4 Runs) FOUR! Gets the crucial boundary away. Flatter one again from around the stumps and on the pads, Karim Janat gets a bit low and flicks it away over short fine leg for four runs.
18.4 overs (0 Run) Floats this one up full and around off stump, Karim Janat sits down for the big slog but miscues it completely back to the bowler.
18.3 overs (1 Run) Pushed through quicker onto the stumps, this is hit away down to long off for a single.
18.2 overs (0 Run) PUT DOWN! You can hardly call that one a chance but those do stick sometimes. Shortish length again around off, Najibullah Zadran rocks back and goes hard at it but miscues it flat and to the right of the bowler. Washington Sundar sticks out a right hand but fails to hold on.
18.1 overs (4 Runs) FOUR! Boy, was that timed well! Short of a length bowled around middle and off, Najibullah Zadran rocks back and just firms it back past the left of the bowler. The ball goes dead straight and into the fence.
Karim Janat makes his way out to the centre. With a left-hander at the crease in the form of Najibullah, Rohit Sharma brings Washington Sundar (2-0-18-0) back into the attack.
17.6 overs (0 Run) OUT! CAUGHT! All the extra deliveries and Mukesh Kumar ends up with a big wicket, his second of the over. Keeps coming from over the wicket and digs it in a bit short and pushes it well outside the off stump. Mohammad Nabi has to really reach for it and ends up carving it off the outer half of the bat towards deep point. Rinku Singh misjudges it a bit in the loghts but does well to dive forward and take it with both hands. Nabi departs after a fiery knock.
17.5 overs (1 Run) Leg bye! Does well to escape out of the freebie there does Mukesh Kumar. Back to over the wicket and nails the yorker around the toes. Najibullah Zadran misses the flick and the ball goes off the pads to short fine leg and they get a leg bye.
17.5 overs (1 Run) NO BALL! The second one for the over and this time it will be a no ball instead of a wide. Comes from around the wicket and digs it in well short again this time outside off. Najibullah Zadran tries to uppercut it but misses out and a Free Hit will now follow.
17.5 overs (1 Run) WIDE! A well-directed bumper by Mukesh Kumar around the helmet but this one is just a bit too short and flies over the head instead. Called a wide.
17.4 overs (1 Run) Full and wide, hovering around the tramline at 137.8 clicks, Mohammad Nabi reaches out and the ball pings off his bat straight to deep point. Only a single.
17.3 overs (1 Run) Back of a length over middle and leg, Najibullah Zadran backs away a bit and plays it nicely off the back foot through cover-point for a single.
17.2 overs (0 Run) Dug in well short and over leg stump, coming it right around the shoulder, Najibullah Zadran hangs back and drops it down just behind point.
Najibullah Zadran is the new man in for Afghanistan.
17.1 overs (0 Run) OUT! DRAGGED ON! A bit unlucky for Azmatullah Omarzai but Mukesh Kumar will take it with both hands. Pitches this one full and wide outside off at 133.7 clicks and it is there to be put away. Omarzai doesn’t quite move his feet and just tries to reach out with those long levers and cream it through covers but ends up getting a big inside edge. The ball chops back into the stumps and the bails come off. Omarzai departs after a good knock and India get a timely wicket.
16.6 overs (1 Run) In the blockhole again on middle and leg, Azmatullah Omarzai uses his wrists and plays a whippy shot to deep mid-wicket for just another single. A very tidy over from Arshdeep Singh.
16.5 overs (1 Run) Nice and full at the stumps, Mohammad Nabi whips it away toward deep mid-wicket and picks up a single. They think about two but rightly decide against it.
16.5 overs (1 Run) WIDE! Goes full and wide now and Mohammad Nabi tries to shuffle across and get some bat on it but the ball just goes beyond the tramline and the umpire signals a wide.
16.4 overs (1 Run) Very full and in the blockhole on leg stump, Azmatullah Omarzai jams it out well in front of mid-wicket and picks up a single to the deep.
16.3 overs (0 Run) Excellent change-up from Arshdeep Singh! Brings out the slower bumper and bowls it over off stump and gets the height correct as well. The ball angles away and Azmatullah Omarzai looks to play at it but he is beaten.
16.2 overs (1 Run) Very full, in fact, a low full toss around off stump, difficult to put away and Mohammad Nabi toe-ends it down to long on for a run.
16.1 overs (0 Run) Begins the new spell with a hard length delivery that is angled well across the right-hander. Mohammad Nabi tries to open up the off side and cut is away but is beaten by the pace and bounce.
15.6 overs (1 Run) Nails the yorker-length delivery outside off, Mohammad Nabi makes a bit of room and opens the bat face to squeeze it down to third man for a single.
15.5 overs (0 Run) Misses out there Mohammad Nabi! A juicy high full toss around off stump, Nabi hangs back in the crease and fails to get under it, hitting it straight to mid off.
15.4 overs (6 Runs) SIX! Two in two for ‘The President’! Mukesh Kumar drops the length short again with no pace angling into the right-hander. Mohammad Nabi covers the line and pulls it handsomely over deep mid-wicket for another six.
15.3 overs (6 Runs) SIX! That’s huge. Mukesh Kumar drops his length short and outside off. Mohammad Nabi waits for the ball and slaps it over extra cover for a biggie.
15.2 overs (1 Run) Tries to go for the yorker, but turned out to be a low full-toss on off. Azmatullah Omarzai flicks it on the full to long on for a single and the 50-run stand comes up between these two as well.
15.1 overs (1 Run) Comes from over the wicket and drops the length short, outside off, Mohammad Nabi tries to play it across the line but gets the toe end of the bat. The ball zips past the off stump and trickles down to the left of the keeper. The batters pinch a single.
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Albertsons Companies, Inc. (ACI) Gains As Market Dips: What You Should Know
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This story originally appeared on Zacks
In the latest trading session, Albertsons Companies, Inc. (ACI) closed at $30.19, marking a +0.07% move from the previous day. This change outpaced the S&P 500’s 0.26% loss on the day. Elsewhere, the Dow lost 0.16%, while the tech-heavy Nasdaq lost 0.04%.
– Zacks
Prior to today’s trading, shares of the company had lost 16.15% over the past month. This has lagged the Consumer Staples sector’s gain of 9.11% and the S&P 500’s gain of 4.82% in that time.
Albertsons Companies, Inc. will be looking to display strength as it nears its next earnings release. In that report, analysts expect Albertsons Companies, Inc. to post earnings of $0.55 per share. This would mark a year-over-year decline of 16.67%. Meanwhile, our latest consensus estimate is calling for revenue of $15.96 billion, up 3.58% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $2.59 per share and revenue of $69.78 billion. These totals would mark changes of -20.06% and +0.12%, respectively, from last year.
Any recent changes to analyst estimates for Albertsons Companies, Inc. should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company’s business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Albertsons Companies, Inc. currently has a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Albertsons Companies, Inc. has a Forward P/E ratio of 11.63 right now. This represents a discount compared to its industry’s average Forward P/E of 20.08.
Meanwhile, ACI’s PEG ratio is currently 1.45. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company’s expected earnings growth rate. The Consumer Products – Staples industry currently had an average PEG ratio of 3.58 as of yesterday’s close.
The Consumer Products – Staples industry is part of the Consumer Staples sector. This group has a Zacks Industry Rank of 236, putting it in the bottom 8% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
Infrastructure Stock Boom to Sweep America
A massive push to rebuild the crumbling U.S. infrastructure will soon be underway. It’s bipartisan, urgent, and inevitable. Trillions will be spent. Fortunes will be made.
The only question is “Will you get into the right stocks early when their growth potential is greatest?”
Zacks has released a Special Report to help you do just that, and today it’s free. Discover 7 special companies that look to gain the most from construction and repair to roads, bridges, and buildings, plus cargo hauling and energy transformation on an almost unimaginable scale.
Download FREE: How to Profit from Trillions on Spending for Infrastructure >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Albertsons Companies, Inc. (ACI): Free Stock Analysis Report
To read this article on Zacks.com click here.
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France’s manufacturing output up 0.3% YoY, down 0.3% MoM in Nov 2023
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France’s manufacturing output was down by 0.3 per cent year on year (YoY) and up by 0.3 per cent month on month (MoM) in November last year. Output in some energy-intensive industries remained lower compared to the level of 2021.
Cumulative output over September-November 2023 was lower by 0.3 per cent than that of the same three months of the previous year in the manufacturing industry, but was higher in the whole industry by 0.8 per cent.
France’s manufacturing output was down by 0.3 per cent year on year (YoY) and up by 0.3 per cent month on month in November last year.
Output in some energy-intensive industries remained lower compared to the level of 2021.
Manufacturing of textiles, apparel, leather and related products witnessed a 3.6 per cent YoY rise during the month.
Manufacturing of textiles, apparel, leather and related products saw a 3.6 per cent YoY rise in November last year, the National Institute of Statistics and Economic Studies (INSEE) said on its website.
Energy-intensive industries are particularly exposed to rising—or persistently high—production costs, which may affect their output.
Fibre2Fashion News Desk (DS)
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India’s fiscal deficit to be 6.6% of GDP in FY22: Ind-Ra
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Higher tax and non-tax revenue collections this fiscal are expected to more than offset the shortfall in disinvestment revenue, leading to the fiscal deficit coming in at 6.6 per cent of GDP in FY22, 20bp lower than budgeted, according to India Ratings and Research’s (Ind-Ra) estimation. The data relating to the union government finances show that tax collections so far have immensely benefitted both from growth and inflation.
While the GDP growth is benefitting due to the lower base of FY 2021, higher inflation (GDP deflator) has led to the economy registering higher nominal GDP growth and thus helping higher tax collections. The GDP deflator growth in 1QFY22 was highest at 9.7 per cent and second highest at 8.4 per cent in 2QFY22 in the quarterly series of 2011-12 base. As a result, the nominal GDP growth came in 31.7 per cent in 1QFY22 and 17.5 per cent in 2QFY22.
The share of direct tax in the expected additional gross tax revenue collection works out to be 44.7 per cent and that of indirect tax 55.3 per cent. On the whole, the share of direct taxes in the gross tax revenue of FY22 is expected to increase to 48.9 per cent in FY22 from 45.8 per cent in FY21, as per the report.
Higher tax and non-tax revenue collections this fiscal are expected to more than offset the shortfall in disinvestment revenue, leading to the fiscal deficit coming in at 6.6 per cent of GDP in FY22, 20bp lower than budgeted, according to India Ratings and Research’s (Ind-Ra). Tax collections so far have immensely benefitted both from growth and inflation.
Like tax revenue, even the non-tax revenue is expected to come in higher than the budgeted figure in FY22. Non-tax revenue is forecasted to reach ₹3.1 trillion in FY22 as against the budgeted ₹2.4 trillion (FY21 (RE): ₹2.1 trillion). Non-tax revenue collections of ₹2.1 trillion during April-October 2021 grew at 78 per cent yoy and were 85.1 per cent of the FY22 budgeted amount.
However, capital receipts are lagging and despite growing 20.3 per cent YoY during April-October 2021 were only 10.5 per cent of the FY22 budgeted amount. If the first seven months of FY22 is an indication, then once again the disinvestment target of ₹1.75 trillion will be missed by a big margin. Till October 2021, the total disinvestment proceeds have been just ₹93.64 billion, which is only 5.4 per cent of the target.
On the expenditure front, the union government has brought in two supplementary demands for grants – one for ₹236.75 billion and the other one for ₹2.992.43 billion after the presentation of general budget on 1 February 2021. This will lead to total expenditure commitments of ₹38.1 trillion in FY22 (revenue expenditure: ₹31.8 trillion and capital expenditure: ₹6.2 trillion).
Ind-Ra’s estimates suggest that the final revenue expenditure will be ₹2.8 trillion higher than FY22 budgeted revenue expenditure and ₹216 billion higher than the proposed FY22 revenue expenditure (budgeted plus two supplementary demand for grants), despite low expenditure by few ministries/ departments.
Out of 101 demands for grants for various ministries/departments, seven ministries/departments have spent less than 20 per cent of their FY22 budgeted amount till end-October 2021. Another 21 ministries/departments have spent between 20-40 per cent of their budgeted expenditure for FY22. The total budget (revenue and capital) of these 28 ministries/ departments in FY22 is ₹5.5 trillion and combined expenditure in the first seven months was only ₹874.5 billion.
Fibre2Fashion News Desk (KD)
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EOG Resources (EOG) Dips More Than Broader Markets: What You Should Know
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This story originally appeared on Zacks
EOG Resources (EOG) closed the most recent trading day at $88.83, moving -0.39% from the previous trading session. This move lagged the S&P 500’s daily loss of 0.26%. Elsewhere, the Dow lost 0.16%, while the tech-heavy Nasdaq lost 0.04%.
– Zacks
Coming into today, shares of the oil and gas company had gained 3.03% in the past month. In that same time, the Oils-Energy sector gained 2.9%, while the S&P 500 gained 4.82%.
EOG Resources will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $3.25, up 357.75% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $5.93 billion, up 99.82% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $8.79 per share and revenue of $18.92 billion. These totals would mark changes of +502.05% and +71.52%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for EOG Resources. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company’s business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 1.15% higher. EOG Resources is currently a Zacks Rank #3 (Hold).
Investors should also note EOG Resources’s current valuation metrics, including its Forward P/E ratio of 10.15. This represents a premium compared to its industry’s average Forward P/E of 8.77.
Investors should also note that EOG has a PEG ratio of 0.49 right now. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock’s expected earnings growth rate. Oil and Gas – Exploration and Production – United States stocks are, on average, holding a PEG ratio of 0.34 based on yesterday’s closing prices.
The Oil and Gas – Exploration and Production – United States industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 112, putting it in the top 45% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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