In trading on Monday, shares of Pfizer Inc (Symbol: PFE) crossed above their 200 day moving average of $49.27, changing hands as high as $49.82 per share. Pfizer Inc shares are currently trading up about 4.2% on the day. The chart below shows the one year performance of PFE shares, versus its 200 day moving average:
Looking at the chart above, PFE’s low point in its 52 week range is $41.44 per share, with $61.71 as the 52 week high point — that compares with a last trade of $49.53. The PFE DMA information above was sourced from TechnicalAnalysisChannel.com
Click here to find out which 9 other dividend stocks recently crossed above their 200 day moving average »
Also see:
High Dividend Stocks VLTA Historical PE Ratio SBGI Average Annual Return
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
November 14, 2022 – Updated 07:45 pm IST | Hyderabad, November 14
Revenue up 52% to ₹1,683 crore
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Adtech and digital marketing solutions company Brightcom posted a net profit of ₹321 crore in the second quarter ended September 30, 2022, against ₹277 crore in the corresponding quarter last year, a growth of 51 per cent.
It registered revenue of ₹1,683 crore (₹1,104 crore), a growth of 52 per cent.
“The main drivers for the growth in revenue are enhanced client reach across locations and businesses and efforts to improve market share in the US and European Union markets. We have added five advertising agencies and 16 new direct advertisers,” the company said in a communication to the BSE).
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The S&P 500 (.SPX) and Nasdaq (.IXIC) jumped on Thursday, racking up their biggest daily percentage gains in over 2-1/2 years as a sign of slowing inflation in October sparked speculation the Federal Reserve might become less aggressive with interest rate hikes.
Stocks in sectors across the board surged as the latest consumer price data cheered investors worried that ongoing interest rate hikes could hobble the U.S. economy.
One-time Wall Street darlings tarnished in 2022’s bear market were among Thursday’s strongest performers, with Nvidia (NVDA.O) jumping about 14%, Meta Platforms (META.O) climbing 10% and Alphabet (GOOGL.O) rising 7.6%.
The Labor Department’s data showed the annual CPI number below 8% for the first time in eight months.
“This is a big deal,” said King Lip, chief strategist at Baker Avenue Asset Management in San Francisco. “We have been calling the peak of inflation for the last couple of months and just have been incredibly frustrated that it hasn’t shown up in the data. For the first time, it has actually shown up in the data.”
Growing recession worries have hammered Wall Street this year. The S&P 500 (.SPX) remains down about 17% year to date, and it is on course for its biggest annual decline since 2008.
The inflation data prompted traders to adjust rate hike bets, with odds of a 50-basis point rate hike in December, rather than a 75-basis point hike, jumping to about 85% from 52% before the data was released, according to the CME FedWatch tool.
San Francisco Fed President Mary Daly and Dallas Fed President Lorie Logan welcomed the most recent inflation data, but warned that the fight with rising prices was far from over.
Amazon.com Inc (AMZN.O) surged more than 12% after the Wall Street Journal reported that the e-commerce heavyweight was reviewing unprofitable business units to cut costs.
The S&P 500 climbed 5.54% to end the session at 3,956.31 points.
The Nasdaq gained 7.35% to 11,114.15 points, while Dow Jones Industrial Average rose 3.70% to 33,715.37 points.
All 11 S&P 500 sector indexes rallied, led by information technology (.SPLRCT), up 8.33%, followed by a 7.74% gain in real estate (.SPLRCR).
The Philadelphia semiconductor index (.SOX) surged 10.2%, cutting its loss in 2022 to about 32%.
The CBOE volatility index (.VIX), also known as Wall Street’s fear gauge, fell to a near two-month low of about 23 points.
Some investors urged caution that Thursday’s rally may be overdone.
“The market is – as it has been a few times this year – very eager to trade a ‘Fed pivot’ … but we think the market is getting a little ahead of itself based on one print,” said Zach Hill, head of portfolio management at Horizon Investments in Charlotte.
The PHLX Housing index (.HGX) jumped 10.3% to its highest since August after tumbling this year over concerns about higher mortgage rates denting affordability.
Rivian Automotive Inc (RIVN.O) surged 17.4% after the electric-vehicle maker reported a smaller-than-expected loss, higher number of pre-orders and reaffirmed its full-year production outlook.
The Dow has now recovered about 17% from its closing low on Sept. 30, and it remains down about 9% from its record high close in early January.
Advancing issues outnumbered falling ones within the S&P 500 (.AD.SPX) by a 26.9-to-one ratio.
The S&P 500 posted 19 new highs and no new lows; the Nasdaq recorded 120 new highs and 166 new lows.
Volume on U.S. exchanges was heavy, with 14.9 billion shares traded, compared to an average of 11.9 billion shares over the previous 20 sessions.
Airbus and a partnership of more than a dozen airlines are working together to fund a new carbon capture project.
Their hope is that Carbon Engineering’s direct carbon capture technology can provide secure, verifiable carbon removal credits as part of aviation’s need to offset part of its future emissions.
The partnership includes Air Canada, Air France-KLM, easyJet, International Airlines Group (the parent of British Airways, Iberia, Aer Lingus and Vueling), LATAM Airlines Group, Lufthansa Group (including Swiss, Austrian, Brussels and the Eurowings brands) and Virgin Atlantic.
The agreement is at this point an early stage partnership, based on letters of intent, and the airlines have “committed to engage in negotiations on the possible pre-purchase of verified and durable carbon removal credits starting in 2025 through to 2028”.
The group’s partner is Carbon Engineering who have pioneered a direct air carbon capture and storage that can cancel out enterprise-level carbon emissions at scale.
At a basic level, their facilities utilize high-powered fans to suck air in, process it, then compress it into liquid and store it in underground geologic reservoirs.
The agreement is intended to cover a pre-purchase total of some 400,000 metric tons of removal credits. Airbus partner 1PointFive, a subsidiary of Occidental Petroleum’s Low Carbon Ventures business, will issue the carbon credits as early as 2025.
“The letter of intent we are signing with Airbus today embodies the collaborative approach the aviation industry has initiated to find effective solutions that meet the challenge of our environmental transition,” said Air France-KLM vice president for sustainability Fatima da Gloria de Sousa. “Only together can we address the climate emergency.”
“On a small scale, it’s the technology that’s been proven,” said Stan Shparberg, head of marketing at Airbus. “We now basically need to scale it up.”
SIMILAR: Researchers Pull Carbon Out of the Sky And Convert it to Instant Jet Fuel, Reshaping Aviation For Good
Some of the more extreme climate researchers and predictors suggest the only way to avoid several trillion in damages from climate related disasters is to actively remove carbon from the atmosphere; that merely slowing down the emitting process is no longer sufficient.
Along with storing carbon underground, Carbon Engineering can use as much carbon as it likes to make carbon-based products like fuels. Other companies have proven concepts of removing carbon from the air and turning it into vodka, or even fragrances.
Some estimates puts the aviation industry’s primarily-CO2 footprint of global emissions at just under 1 billion metric tons, or around 2.4% of all human activities.
READ ALSO: Engineers Turn Water into Carbon-Neutral Jet Fuel Using Solar Radiation
The advantage of carbon capture though is that the emissions can be offset from any activity anywhere and from any point in history.
Several companies are already working on these large direct air carbon capture and storage facilities, with one in Iceland already operational that takes the emissions of 870 cars and turns them into calcium carbonate minerals amongst metamorphic rock deep underground.
WATCH the machines in action below…
SUCK Up Your Friends’ Enthusiasm With This Great Climate Fix…
Something on which everyone can agree, whether fans of Christensen or not, is that the existing governance system is in need of reform. “There are a lot of teams, and it is not always easy to get a sense of the value they are providing,” says Derivaux, and MakerDAO is paralyzed by an inability to reach decisions quickly. Less clear is whether Endgame will resolve these problems.
“The impact Endgame will have is really difficult to say,” says Johnny_TVL, senior research analyst at Messari, a specialist crypto research firm. “Certainly, if fully executed, it seems like it would adeptly decentralize the protocol. But given the complexity, it is unlikely to work exactly as advertised.”
To characterize Endgame as complex is perhaps to put it too lightly. In a Substack post, Luca Prosperi, who works in lending oversight for MakerDAO, described Christensen’s Endgame posts as “very detailed, extremely articulated, unforgivingly frequent, and excruciatingly long.” To comprehend the latest version of the plan, he says, a “Tolkien-esque glossary” is required.
Despite his doubts during the voting process, Di Prisco is willing to put faith in the MakerDAO founder, who he describes as “smart and honest.” He says he has come to terms with the fact that, often, “the founder is the only one who can really picture things end to end.”
Christensen admits he is probably the only one to grasp the Endgame proposal and its implications. “In some ways, I don’t even understand it fully,” he says. “I can’t predict all possible future paths.”
“But the current status quo is infinitely more complex; you can’t see the wood for the trees. But with Endgame, things start to crystallize to a point where you can at least count the things you need to understand,” says Christensen.
A Reckoning for DAOs Everywhere
At the center of the conflict within the MakerDAO community are questions around whether complete decentralization can ever be achieved—and if it’s even a good idea.
Some believe decentralization should be the DAO’s single priority, as the only protection against the overreach of governments and corporations, while others are willing to compromise on decentralization to make DAI accessible to the largest possible audience.
But Danny says the debate has been hindered by “a real lack of intellectual rigor and consistency” around the concept of decentralization, which has become a cliché used to signpost a general philosophy rather than a clearly defined objective.
In spite of their admiration for the spirit of the MakerDAO project, none of the community members that spoke to WIRED (with the exception of Daverington) claimed to be optimistic about the long-term viability of DAOs as a model for organizing human effort. Even Christensen says he had almost given up on the concept, until Endgame reignited his belief.
“I think DAOs, up to this point, are pretty much a failure,” says Di Prisco, who suggests that the problem has to do with “the architecture of the protocols and expectations people have of governance.”
Danny, who is equally pessimistic, says the biggest problem is the failure to get enough people to vote—and asking them to vote on highly complex proposals. The result is a system that pushes people to fall in line behind a figurehead, like Christensen, and therefore begins to resemble a traditional business ever more closely.
The fundamental question is whether DAOs can be organized in such a way that the best ideas rise to the top, but Danny says that’s simply not the case here. “MakerDAO is as far from a meritocracy of ideas as you can get.”
At Holdings Channel, we have reviewed the latest batch of the 141 most recent 13F filings for the 09/30/2022 reporting period, and noticed that Walt Disney Co. (Symbol: DIS) was held by 63 of these funds. When hedge fund managers appear to be thinking alike, we find it is a good idea to take a closer look.
Before we proceed, it is important to point out that 13F filings do not tell the whole story, because these funds are only required to disclose their long positions with the SEC, but are not required to disclose their short positions. A fund making a bearish bet against a stock by shorting calls, for example, might also be long some amount of stock as they trade around their overall bearish position. This long component could show up in a 13F filing and everyone might assume the fund is bullish, but this tells only part of the story because the bearish/short side of the position is not seen.
Having given that caveat, we believe that looking at groups of 13F filings can be revealing, especially when comparing one holding period to another. Below, let’s take a look at the change in DIS positions, for this latest batch of 13F filers:
Fund
New Position?
Change In Share Count
Change In Market Value ($ in 1000’s)
Mogy Joel R Investment Counsel Inc.
Existing
-6,780
-$645
Keeley Teton Advisors LLC
Existing
UNCH
-$1
One Capital Management LLC
Existing
-399
-$40
Nations Financial Group Inc. IA ADV
Existing
+88
+$7
Optiver Holding B.V.
Existing
+1,054,586
+$99,444
Peddock Capital Advisors LLC
Existing
-2,230
-$211
Samlyn Capital LLC
Existing
+1,264,448
+$119,156
Bellwether Advisors LLC
Existing
+55
+$5
FineMark National Bank & Trust
Existing
+2,925
+$271
Soltis Investment Advisors LLC
Existing
+276
+$26
Bahl & Gaynor Inc.
Existing
-1,996
-$196
HBK Sorce Advisory LLC
Existing
+10,006
+$942
ELCO Management Co. LLC
Existing
+242
+$22
Herbst Group LLC
Existing
-300
-$68
Aldebaran Financial Inc.
Existing
-91
+$6
Eagle Bluffs Wealth Management LLC
Existing
-318
-$31
Penserra Capital Management LLC
Existing
+30
+$3
RBO & Co. LLC
Existing
+570
+$43
Equitable Holdings Inc.
Existing
-3,356
-$321
PFS Investments Inc.
Existing
+4,537
+$423
Lumina Fund Management LLC
Existing
UNCH
$UNCH
Peak Asset Management LLC
Existing
+6,734
+$629
MML Investors Services LLC
Existing
+39,763
+$3,727
Nuveen Asset Management LLC
Existing
-311,498
-$30,209
United Bank
Existing
+65
+$5
Quantitative Investment Management LLC
Existing
-67,835
-$6,408
Cape Cod Five Cents Savings Bank
Existing
UNCH
$UNCH
Wills Financial Group Inc.
Existing
-15,543
-$1,468
Tower Bridge Advisors
Existing
-1,289
-$131
Dohj LLC
Existing
+313
+$29
Canada Pension Plan Investment Board
Existing
+150,205
+$14,097
Tempus Wealth Planning LLC
Existing
+1,602
+$150
Burke & Herbert Bank & Trust Co.
Existing
-71
-$8
Buckley Wealth Management LLC
Existing
-1,230
-$116
Tyler Stone Wealth Management
Existing
-145
-$14
HRT Financial LP
Existing
-27,060
-$2,554
Capula Management Ltd
Existing
+110,235
+$10,401
Maltin Wealth Management Inc.
Existing
-74
-$8
Mirador Capital Partners LP
Existing
+113
+$9
Capital Planning Advisors LLC
Existing
+1,290
+$122
Solidarilty Wealth LLC
Existing
-57
-$23
Cable Hill Partners LLC
Existing
+1,206
+$114
Vise Technologies Inc.
Existing
-662
-$63
Charles Schwab Investment Management Inc.
Existing
+320,621
+$29,622
Amundi
Existing
+2,620,108
+$314,564
Nwam LLC
Existing
-2,312
-$360
Unison Asset Management LLC
NEW
+3,235
+$305
Jefferies Group LLC
Existing
+36,001
+$3,723
Allworth Financial LP
Existing
+4,902
+$459
Bragg Financial Advisors Inc
Existing
+4,241
+$392
Davidson Kempner Capital Management LP
Existing
-150,000
-$14,167
KC Investment Advisors LLC
Existing
+383
+$36
Davidson Kempner Capital Management LP
Existing
-150,000
-$14,167
Davidson Kempner Capital Management LP
Existing
-150,000
-$14,167
Davidson Kempner Capital Management LP
Existing
-150,000
-$14,167
Davidson Kempner Capital Management LP
Existing
-150,000
-$14,167
L & S Advisors Inc
Existing
+14,640
+$1,380
Jasper Ridge Partners L.P.
Existing
-154
-$16
Morse Asset Management Inc
Existing
-170
-$18
Intellectus Partners LLC
Existing
UNCH
$UNCH
Vivaldi Capital Management LP
Existing
-34
+$18
Enzi Wealth
NEW
+3,919
+$372
Marathon Trading Investment Management LLC
Existing
-3,382
-$329
Aggregate Change:
+4,460,353
+$486,429
In terms of shares owned, we count 28 of the above funds having increased existing DIS positions from 06/30/2022 to 09/30/2022, with 29 having decreased their positions and 2 new positions. Worth noting is that Financial Advisors LLC, Northern Oak Wealth Management Inc., Tlwm, Quad Cities Investment Group LLC, Biltmore Wealth Management LLC, Select Asset Management & Trust, and Wunderlich Capital Managemnt, included in this recent batch of 13F filers, exited DIS common stock as of 09/30/2022.
Looking beyond these particular funds in this one batch of most recent filers, we tallied up the DIS share count in the aggregate among all of the funds which held DIS at the 09/30/2022 reporting period (out of the 4,013 we looked at in total). We then compared that number to the sum total of DIS shares those same funds held back at the 06/30/2022 period, to see how the aggregate share count held by hedge funds has moved for DIS. We found that between these two periods, funds increased their holdings by 20,978,821 shares in the aggregate, from 296,477,928 up to 317,456,749 for a share count increase of approximately 7.08%. The overall top three funds holding DIS on 09/30/2022 were:
We’ll keep following the latest 13F filings by hedge fund managers and bring you interesting stories derived from a look at the aggregate information across groups of managers between filing periods. While looking at individual 13F filings can sometimes be misleading due to the long-only nature of the information, the sum total across groups of funds from one reporting period to another can be a lot more revealing and relevant, providing interesting stock ideas that merit further research, like Walt Disney Co. (Symbol: DIS).
10 S&P 500 Components Hedge Funds Are Buying »
Also see:
Dividend ETFs BDTX shares outstanding history Institutional Holders of SBA Communications
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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L&T Infotech (LTI) and Mindtree have merged into LTIMindtree, effective from Monday, becoming the country’s fifth largest provider of IT services by market capitalisation and sixth largest IT company by revenue.
The record date for share swap has been set for November 24, where all shareholders of Mindtree will be issued shares of LTI in the ratio of 73 shares of LTI for every 100 shares of Mindtree. The parent company, L&T, will hold 68.73 per cent of the merged entity.
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Revenue target
L&T Group Chairman AM Naik noted that the combined entity will likely cross $5 billion in revenues by next year. It will generate a revenue upwards of $6 billion in congruence with L&T Technology Services (LTTS). The merged entity will commence operating from Monday and Mindtree will be delisted from the exchanges on November 24. According to Naik, the amalgamation scheme was approved by both NCLT benches in Mumbai and Bengaluru.
The cumulative entity will have a combined strength of 90,000 plus employees serving more than 750 global enterprises. The revenue and market breakup between the US and UK will be 70-30 as per the leadership.
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According to Naik, the merger will help L&T in achieving its goal of increasing IT-enabled services to 25 per cent of the company’s total business by 2026. The entity, Naik said, is uniquely positioned to combine and scale by competing for larger deals and offers a greater ability to stick together for end-to-end offerings and deeper engagement with hyperscalers to generate significant value.
The management is targeting double digit growth rates for the next five years for the merged entity. Mindtree CEO Debashish Chatterjee will lead the combined entity as its MD & CEO. “Amid the proliferation of new business models and revenue streams in a rapidly converging world, LTIMindtree will help businesses proactively take on and shape the future by harnessing the full power of digital technologies. Armed with top talent, comprehensive offerings and a cumulative experience of more than five decades, LTIMindtree brings the diversity of scale and capabilities required to help businesses reimagine possibilities, deliver impact, and get to the future, faster,” noted Chatterjee.
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A ferry boat with technology that filters all the particulate matter from its emissions is now boarding for service around the French coast.
The vessel keeps her passengers and the sea at large healthier thanks to filters that capture 99.9% of sulphur oxide fine particulates, allowing the Côte d’Azur to breathe easier.
If you’ve ever traveled by ferry or cruise around the Mediterranean’s islands, for example Caremar from Naples to Capri, you may have had the unfortunate opportunity to breathe in the black, sulphur oxide-laden smoke coming from the engine.
This contributes to substantial pollution of the sea via the deposition of these fine particulates into the water. La Piana, a ship designed by the French ferry company La Méridionale, has built-in filters modeled on those of ground-based waste incinerators or biomass power plants.
Sulphur oxides from the motor are emitted into a chamber of sodium bicarbonate, which destroy the particulates. The chamber is then emptied, and sent to a filter which captures them all. Once ashore a hazmat truck can cart the material away.
RELATED: Greening Our Shipping: Wind-Powered Cargo Ships Can Change Future of Freight Cutting Emissions By 90%
“The challenge for us was to make it suitable for the maritime sector,” said Christophe Seguinot, technical director of La Méridionale. “This involved making the device smaller and lighter, so it could be installed on board a ferry while leaving enough space for travelers.”
La Piana currently services Ajaccio and Propriano on the island of Corsica, and Tangier in Morocco.
It departs from Marseilles, which suffers inordinately of air pollution coming from cruise ships. Marseilles is one of the most frequented ports for European cruise ships, all the more now that Venice has banned them from entering her canal. Recently, 50,000 citizens signed a petition to ban cruise ships from entering the New Port, but they’re likely to make an exception for La Piana.
WATCH The Company Presentation (In French)…
SHARE This Unique Transport Innovation On Social Media…
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10 S&P 500 Components Hedge Funds Are Buying » 
