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Walmart to expand same-day delivery options to include early morning hours 2024-03-07 15:10:00+00:00 - Walmart says it is expanding its same-day delivery options to include early morning hours. The move comes as online retailers compete to meet consumers' growing demand for speed and convenience. Starting in mid-March, customers who place an order online starting at 6 a.m. can get clothes, home appliances, outdoor supplies or baby essentials delivered within 30 minutes, Walmart said Thursday. Customers will pay $10 for immediate delivery or $5 to have their items delivered within a three-hour window, a Walmart spokesperson told CBS MoneyWatch. The service will be free for Walmart+ members, the company added. "With Walmart's on-demand early morning delivery and a suite of other convenient options, we're making sure you have what you need, when you need it, so you can reclaim your time no matter what the clock says," the company said Thursday in a statement. Executives at Walmart said the early morning feature is among a list of delivery options the retail giant is launching in hopes of increasing sales. Walmart in September began offering a late-night delivery option, which allows customers to get orders placed by 9:30 p.m. delivered by 10 p.m. The company also has on-demand delivery, where customers can select a specific day and time to have an item delivered. Those delivery options have been "a key source of share gains among upper-income households and is also the most productive channel for acquiring Walmart+ members," Chief Financial Officer John Rainey said during Walmart's most recent earnings call last month. Walmart's move comes just days after rival retailer Target announced an unlimited free same-day delivery service called Target 360. Target said its service will deliver items to customers in as little as an hour for orders above $35. Hoping the speedy delivery option will help boost sales, Target said its offering the 360 service for a promotional price of $49 a year to new members who sign up between April 7 and May 18 (after which the price goes up to $99). Amazon, which was the first to offer same-day delivery back in 2015, today charges its Prime members $14.99 a month, or $139 a year, for the service. Best Buy, Sam's Club and Whole Foods (acquired by Amazon in 2017) also offer same-day delivery. With Target and Walmart stepping up their delivery games to also include faster, more convenient delivery service, it's clear that customer expectations have changed, retail experts said. Many consumers find it an inconvenience to have to wait a few days to receive a product they ordered online, making delivery speed a huge factor in choosing where to buy. A 2023 retail trends report from Shopify found that 60% of consumers expect same-, next-, or two-day delivery when shopping online while 58% of those shoppers expect free next-day delivery. Likewise, a 2022 survey of about 500 retailers in the U.S., UK, Canada, Germany, France and Italy found that 99% of those retailers said they will offer same-day delivery by 2025.
Using Options for 1-for-2 Risk/Reward Ratio on UiPath Earnings 2024-03-07 15:08:00+00:00 - UiPath Inc. NYSE: PATH is the leader in artificial intelligence (AI) powered robotic process automation (RPA) and business process automation (BPA) platforms in the computer and technology sector. A recent MarketBeat Original article by Chris Markoch explores how ARK Investment Management head Cathie Wood is a believer in UiPath since it’s the second largest holding in her Ark Innovation ETF NYSEARCA: ARKK. UiPath benefits from two secular tailwinds: AI and automation. The company is scheduled to report its earnings after the bell on March 13, 2024. The stock has been severely lagging behind AI stocks, with its counterpart, C3.ai Inc. NYSE: AI, forming a strong price gap and breakout on its most recent earnings. Unusually, PATH didn't get much upside sympathy momentum from AI's gap-and-go earnings beat. This leaves investors with 1 of 2 conclusions. Either the market knows something and expects PATH to miss its expectations for EPS of 16 cents and $383.6 million in revenues or lower guidance, or the market has overlooked the potential for a strong quarter. In its last quarter, PATH had a modest earnings beat as shares squeezed up to a high of $26.53 after its earnings report. If PATH should follow in the footsteps of AI and beat and raise its number, then we can consider taking a call debit spread. The daily candlestick chart on PATH illustrates that the gap-fill areas at $22.14 and $20.31 have not been broken since its last earnings report. The daily relative strength index (RSI) is winding up for a bounce through the 50-band.
Strikes at East Coast, Gulf ports are a big labor risk this year, and trade diversions have already started 2024-03-07 14:59:00+00:00 - ILA International president Harold Daggett has said he wants a good economic deal for his members, which includes union opposition to port automation and exclusive port contracts for its members. During a speech before union members in July 2023, Daggett vowed the ILA would not take a back seat to anyone. "It's time for foreign companies like Maersk and MSC to realize that you need us as much as we need you," he said. In July, the ILA leadership pointed to the Great Lakes District of the union, which secured a 40% increase in wages and benefits for its new six-year contract. No definitive salary increase target has been made by the ILA. Port insiders believe the ILA is targeting an increase larger than the 32% that was negotiated by the ILWU in its new six-year contract . The ILA is also said to be looking to secure a generous bonus package. One of the differences between the ILA and their West Coast brethren, the ILWU, is the ILA longshoremen receive royalties based on how much tonnage they process in a year at their port. This compensation model makes it in the best interest of the ILA workers not to have cargo diverted or their bonuses will decrease. On the West Coast, longshoremen accrue additional compensation based on man-hour assessments. The current ILA contract has union members making a range of $20-$37 an hour. Depending on seniority, skill rate, hazard pay, overtime differential, plus tonnage bonus (which can be anywhere between $15,000-$20,000 a year), a longshoreman can make between $150,000-$250,000 annually. During the West Coast International Longshore and Warehouse Union (ILWU) contract negotiations between 2022-2023, freight processing was stalled after a series of intentional labor slowdowns and walk-offs. At the ILWU Canadian West Coast Ports, a 13-day strike resulted in over $12 billion in trade stuck at sea and it took months for the back of containers to be cleared out. All East Coast and Gulf Coast cargo is moved by the ILA, which hasn't gone on strike since 1977, when a work stoppage lasted 44 days. The ILA's master contract with the United States Maritime Alliance — which represents terminal operators and ocean carriers — is set to expire Sept. 31, but May 17 is the cutoff date set by the union for the local contracts to be agreed to so an overall master contract can then be negotiated. Negotiations for the six-year contract officially began last month. U.S. importers are meeting with ocean carriers this week kicking off their contract negotiations. Between March and April, one-year contracts are inked between U.S. importers and ocean carriers to get their best ocean freight rate. Red Sea diversions and Panama Canal drought restrictions are already influencing ocean freight rate negotiations, and the coming deadlines for East Coast and Gulf Coast port labor talks have more shippers on edge. Cargo containers once bound for the East Coast are now beginning to head back to the West Coast to mitigate any service disruptions, a reversal of what occurred in 2022 and 2023, when East Coast ports made major gains in cargo volume due to both the massive vessel congestion and labor strife at ports up and down the West Coast. The potential for a strike by the largest union of maritime workers in North America, the International Longshoremen's Association, is beginning to rise on the list of concerns among logistics decision-makers and advisors in a year already fraught with a multitude of trade uncertainties. To thwart local union disputes, which massively slowed down the West Coast port negotiations and contributed to a 13-month delay, the ILA is tackling the local issues first before the master contract. So far, the ports of New York/New Jersey and Baltimore have reached tentative local agreements, according to the ILA. "We are very pleased the ILA has returned back to the table for local bargaining," said Dave Adam, chairman and CEO of USMX. "75% of the contract negotiation workload is the local contract. We look forward to getting back to the table to discuss the Master contract issues." A move of cargo back to the West Coast But East Coast trade is flowing away from the ports in the meantime as a result of ongoing Panama Canal restrictions due to drought, the Red Sea diversions, and the threat of a strike. Michael Aldwell, executive vice president for Kuehne + Nagel , says it is tracking a double-digit shift in cargo moving away from the East Coast and advising clients to have an established method of getting cargo into the U.S. in advance of a labor crisis. "As a result of these uncertainties, our customers are telling us they need options, and they need options before it's a necessity to try and grab capacity," said Aldwell. "So we're counseling our customers, take the opportunity while there's no congestion, while there's no risk. And it is playing out already. Move some of your cargo so you establish a transload supply chain via the West Coast," which ultimately travels back by truck and rail to the East Coast and Gulf Coast. Other logistics companies confirmed the trend. "We are seeing a significant change back to the U.S. West Coast," said Paul Brashier, vice president of drayage and intermodal for ITS Logistics. "I would say 25% of our client's freight is coming back to the ports of Los Angeles and Long Beach." The movement of trade away from the East Coast influences the volume of freight moving on the rails, with the extra containers a tailwind for Union Pacific and BNSF, a subsidiary of Berkshire Hathaway, which previously saw a decrease in containers being moved. Beth Whited, president of Union Pacific , said she thinks that the labor negotiations with the ILA could push freight back to the West Coast, and the Panama Canal could cause some trade to come out of the Gulf and be pushed back to the West Coast. "Right now that is just fractional," said Whited. "But as the shipping community continues to make decisions about where they want their freight to land for their comfort and certainty of supply, we'll see how that works out ... we're going to be ready to handle it if that's what happens." Mario Cordero, executive director of the Port of Long Beach, which recently reported its fifth consecutive month of freight volume increase, tells CNBC it is forecasting the annual volume trend to at least match and likely exceed the pre-Covid 2019 number of 6.3 million twenty-foot equivalent (TEU) container units. "We are forecasting an escalation by the end of the year," said Cordero. "Just to put it into context, we moved 8.1 million [TEUs] last year. This year we believe we might get up to 8.4 million." Preparing for labor strife, but a history of strikes averted Charles Van der Steene, president of Maersk North America, told CNBC on the sidelines of the recent TPM Conference in California — where shippers and ocean carriers met and discussed their contracts — that all of this is factoring into peak contract negotiation season with customers. "We see on an ongoing basis the question emerging as to what level should we be ready to potentially make decisions for different inland locations, for different routing of our cargo," said Van der Steene. "And how do we then prepare for that as part of the contract? So it's a part of the discussion, but at this stage, it's again not dissimilar from the same preparations that were had for the negotiations on the West Coast." One of the strategies being suggested by logistics experts for their East Coast freight customers is to bring in containers for peak shipping season early, starting in June versus July. "We're certainly having a lot of conversations with customers right now to make those decisions early, to, to maybe pull in a little more stock earlier in the summer," said Tim Robertson, CEO of DHL Global Forwarding Americas. "So you're not caught up in any potential disruption, and to get access to some of the West Coast routing. These are the discussions that we're having, right now, and I fully expect you're going to see many shippers start to move that way, I would say, in the coming months." Lars Ostergaard, head of Americas liner operations at Maersk, says it is planning ahead itself and keeping a close eye on the negotiations. "As of now, we're advising people to continue using the East Coast, said Ostergaard. "There could be issues when you get beyond October 1, but obviously no one at this point in time knows if that's the case. So what we are advising our clients to do is to think about potentially, if possible, to pre-move some cargo, particularly because you come into the holiday season at the back of the year, and that it would make sense to think about," he said. "Are there certain items that are critical for that season that perhaps, if possible, you should actually try and move before the end of September if possible?" Ostergaard said customers are generally thinking about supply chains in a very different way than they did pre-pandemic, and are concerned about delays. Mike Hatfield, senior manager of global logistics for Berlin Packing, which imports glass bottles, said the lessons learned during Covid enabled the company to quickly mitigate risk of a strike or slowdown. "We learned we are not tied down to just going to the West Coast, East Coast, and support volume to other ports in the event the East Coast shuts down," said Hatfield. "We know we can go back into the West Coast rail product, truck product cross country, so it's just making sure that we have diversity within our supply chain, within our partners, within our contracts for multiple routings of similar lanes. A little bit of redundancy can go a long way." D'Andrae Larry, head of intermodal for Uber Freight, tells CNBC that more customers are coming to him saying they want to plan for the "what if." "We've learned that optionality is the order of tomorrow," he said. Cargo owners at TPM indicated a need for more data and the ability to start plugging that into predictive analytics, according to Chris Rogers, head of supply chain for S&P Global. "We know what a disrupted system looks like," said Rogers. "We've seen behaviorally what happened during the pandemic and how the ports kind of hit capacity, particularly here on the West Coast. I think one of the other challenges with the labor situation is we're also running into the elections. And so this whole thing around labor becoming very politicized." That's a global phenomenon, Rogers said. "We are also seeing protests in lots of different countries linked to politics that have an impact on logistics networks. Fingers crossed, cooler minds will prevail and we'll get a solution well ahead of time. It's in no one's interest to disrupt shipping during peak season, but we've got a little way to go before we get there," he added. So far, labor talks are progressing at the local level, says Daniel Walsh, CEO of TRAC Intermodal, North America's leading marine chassis pool manager and equipment provider, and the parties are talking. "I think that if you look at the history, there seems to be a shared understanding that a strike is not really in anyone's interest, and it's best to avoid that if possible," said Walsh. "They're working pretty, pretty aggressively towards that sort of a conclusion. Hopefully, they can be able to manage it." Lars Jensen, CEO of Vespucci Maritime, said he is hopeful that history will repeat itself in this case. ILA negotiations in the past have not led to many major disruptions and he anticipates no major changes to the normal pattern of West Coast trade. "The risk [of a strike] is, of course, always there. But historically there has been more success in those negotiations than what you've seen with the ILWU on the West Coast. Peak season might start slightly earlier. Again, people might be concerned about the stability of the supply chains," he said.
Membership Clubs Lose Momentum: 3 Stocks to Buy on a Dip 2024-03-07 14:59:00+00:00 - Key Points With international growth leading the business, Walmart provides some diversification, including Sam's Membership Clubs. BJ's Wholesale Club is a deep value in the membership club industry and it is widening margin. PriceSmart is a pure play on clubs and emerging markets in Latin America; it raised its dividend by 26%, and another large increase is expected this year. 5 stocks we like better than Costco Wholesale Membership clubs have been leading the retail sector in growth, but there is a shadow over the market now. The segment is losing momentum, and sales are expected to slow again in 2024, setting their markets up to correct, given weaker-than-expected results. However, a pullback in the price action would be a buying opportunity for investors. Sustained growth, cash flow, and capital returns are enough to keep these stocks advancing over the long term, so they are good buys when an opportunity presents itself. Costco Wholesale NASDAQ: COST may trend higher simply because it is the market leader, and there is hope that another special dividend will come soon. However, others in the group offer what Costco’s stock doesn’t: value. This is a look at the three membership clubs that aren't Costco, rising in Q1, that investors can target to buy when their prices dip. Get Costco Wholesale alerts: Sign Up Walmart: Diversification Sustains Sector-Leading Growth Walmart’sNYSE: WMT growth accelerated in Q4, but guidance for the year is weak. Analysts now expect growth to slow into the low single-digit range, and they may overestimate strength given the outlook for interest rates. The FOMC is unlikely to cut interest before mid-year, keeping economic conditions tight and impacting consumer habits. Walmart’s decision to acquire Vizio is a sign of the headwinds faced by retailers as Walmart leans into non-traditional channels to sustain growth. The takeaway from the Q4 release is that Walmart's diversified business model is why the company is leading the market. Core US sales were tepid, aligning with general retail trends for the period. Sam’s Club, the member-club business segment, grew by 3.3% as its business slowed sequentially. The international segment, including advertising, grew by 17%. Analysts remain bullish on Walmart, although recent activity suggests a top may be in sight. The consensus target is trending higher, but two downward price target revisions suggest upward momentum could wane. As it is, the consensus implies fair value at current levels with a possible 1000 basis points of upside at the high end. The uptrend in sentiment may continue later this year if Walmart can outperform its forecasts. Until then, Walmart is a hold and potential buy-on-the-dip candidate. BJ’s Wholesale Club is a Deep Value for Investors BJ’s Wholesale Club NYSE: BJ is growing its comp sales, membership base, and store count, providing leverage for investors. It is also a deep value among member clubs trading at only 18X earnings and growing at a market-leading pace. Walmart trades at a much higher 25X earnings, while Costco, the other US-based membership club pureplay, trades above 30X earnings. BJ’s business is up 8.7% YOY in Q4 on a 0.5% increase in traffic-driven comps, a 6.5% increase in membership fees, a record 90% renewal rate, and six new stores. Guidance for the year isn’t robust but aligns with the analysts' consensus for 1.5% revenue growth and a wider margin. The salient point is that this stock doesn’t pay dividends but may in the future; until then, it repurchases shares meaningfully and reduced the count by 1.1% last year. Analysts' sentiment has been mixed over the past year, with sentiment falling to Hold and the price target rising. The takeaway is that analysts support the market and have put a floor in the price action. The latest revisions, issued days before the earnings release, lifted the low end of the range to $62, aligning with critical support targets. BJ’s stock is another Hold and buy-on-the-dip candidate. PriceSmart has Emerging Market Exposure to Give it Strength PriceSmart NASDAQ: PSMT is another deep-value in the membership club arena, trading at only 18X this year’s earnings. It will also be the group leader in 2024 for growth, expected to increase the top line by nearly 10%. Cash flow will also be a bright spot as it is improving and used to grow the business, pay dividends, and repurchase shares. The latest dividend news includes a 26% increase that may be repeated this year. The new payout is worth about 1.4% to investors, with shares near $83 and only 25% of the earnings outlook. Earnings growth is expected to continue in 2024, aided by comp sales, store count growth and share repurchases. Share repurchases reduced the count by 1.46% YOY at the end of FQ2/CQ4. Two analysts tracked by Marketbeat.com rate this stock as a Moderate Buy but see it fairly valued at current levels. A pullback to $80 or lower could produce a solid rebound if fresh highs can't be reached now. Before you consider Costco Wholesale, you'll want to hear this. MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Costco Wholesale wasn't on the list. While Costco Wholesale currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys. View The Five Stocks Here
2 Hot Retail Stocks to Watch: One Trends Higher, the Other Lower 2024-03-07 13:00:00+00:00 - Key Points Ross Stores had a solid quarter and issued favorable guidance, helping to support the market. Nordstrom continues to struggle with growth as shoppers tighten discretionary spending habits. Both stocks are trending strongly and present opportunities for traders and investors. 5 stocks we like better than Ross Stores Results from the retail sector are a mixed bag, revealing shifting consumer habits that will impact results for the remainder of the year. Stocks like Ross Stores NASDAQ: ROST and Nordstrom NYSE: JWN are trending strongly because of it, but not in the same direction. The takeaway from the Q4 results is that one grows and delivers value while the other struggles. The dilutive effects of a higher share count weigh Nordstrom's price action despite signs of operational improvements and an outlook that includes a pivot back to growth. On the other hand, Ross Stores' capital return program is as solid as ever and is on track to reducing its share count by another 2% this year. This year, its share price will likely set new highs because of growth, analysts' support, and capital returns. Get Ross Stores alerts: Sign Up Ross Stores: Off-Price Retail is Strong in 2024 Ross Stores Q4 results further prove that off-price retail is hot in 2024. The company reported $6.02 billion in revenue, a gain of 15.5% over last year. Even adjusting for the extra week, the 7% comp is about double the industry average for the holiday quarter. Both reported and comp sales are above consensus and compounded by a wider margin. The company widened its operating margin by 165 basis points to drive accelerated growth of 39% on the bottom line. The $1.82 in GAAP earnings also outpaced the Marketbeat.com consensus by $0.17. Meanwhile, Nordstrom produced growth, but the reported 2.3% gain is tepid and offset by the extra week. Accounting for it, sales fell 2%, led by the core brand. Nordstrom Rack, the low-price label, advanced by 14% and should help sustain business this year. Nordstrom also widened the margin, but most of the improvement was at the gross level. The gross margin improved by 125 basis points and was offset by increased expenses, leaving the EBIT margin only 50 bps wider. On the bottom line, the adjusted $0.96 beat by $0.07. Guidance is another area of discrepancy between these trades. Ross Stores is guiding for growth, with comps up 2% to 3% and margins widening, while Nordstrom’s guidance is less robust. It is guiding for a 2% contraction up to 1% growth. Both Pay Dividends: Ross Stores is Far More Attractive Both stocks pay dividends, but Ross Stores' capital returns are far more attractive. Not only did it resume distributions quicker than Nordstrom following the COVID-19 crisis, but it was reinstated at a higher rate and has increased since. The yield is less but safer at 26% of revenue, and there are share repurchases to compound the return. Nordstrom’s payment was reinstated later, at a lower rate and does not have a favorable outlook for substantial increases soon. Ross Stores increased its payment by 10% for 2024 and its share repurchase authorization by 11%. The new approval is worth $2.1 billion over the next two years and is expected to reduce the share count by 2% annually. Nordstrom’s count is up 1.8% at the end of 2023 and may increase this year, adding more weight to the market. Analysts Sentiment Leads These Stocks in Opposite Directions The analysts' sentiment plays into the trend in both stocks. Analysts rate Nordstrom at Reduce and have lowered their price targets significantly over the last year, leading the stock price lower. Sentiment firmed slightly following the Q4 release, so a new low may not be reached, but the current lows may be retested. The market threw a solidly bearish signal following the release and will likely follow through. Ross Stores struggles with traction following its release but will likely move higher. The analysts have this stock pegged at Moderate Buy and are raising their price targets, with most fresh targets above the $155 consensus. The consensus assumes a 5% upside but is led higher by the revisions; Citigroup set the new high target of $172, a 20% upside from the new low. Before you consider Ross Stores, you'll want to hear this. MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Ross Stores wasn't on the list. While Ross Stores currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys. View The Five Stocks Here
Morgan Stanley cuts Tesla's price target, warns this could be the year Tesla loses money 2024-03-07 04:57:00+00:00 - Morgan Stanley’s Adam Jonas is the latest analyst to raise some concerns with Tesla (TSLA). In a note to clients, Jonas wondered, “Could Tesla lose money (sometime) this year?” In cutting his price target to $320 from $345 (still one of the more bullish targets on the Street), Jonas noted concerns such as continued lag in EV demand despite price cuts, fleet operators like Hertz dumping EVs, and “strong hybrid momentum” peeling away potential EV buyers who are on the fence. Jonas said that if there is ever a time that Tesla could post a GAAP EBIT (earnings before interest and taxes) loss in its auto business, it could be 2024. In response, Tesla shares are trading lower today and are down for the third straight day. Key among the concerns for Morgan Stanley and Jonas are a “relatively aged” product, decelerating EV demand in key markets, an oversupplied Chinese market, and a hybrid renaissance. The China market is noteworthy, given recent price cuts by Tesla and its major rival BYD lowering the price of its entry-level Seagull and Yuan Plus crossover just this week. “We believe price competition will persist in 2024 and will spur OEMs to expand their cost-cutting efforts [in China],” Jonas wrote. These factors have led Jonas and the Morgan Stanley team to cut estimates for key Tesla metrics: 2024 unit volume cut to under 2 million units, or around 10% year-over-year growth GAAP operating profit margin reduced to 3.7% from FY24 forecast of 5.9% FY24 GAAP EPS cut to $0.99 vs $1.54 prior; non-GAAP EPS cut to $1.51 vs $2.04 previously Jonas wrote the lower price target is based on the following cuts: a $5 cut due to lower top-line growth, a $10 cut from lower margins, and a $10 cut from slower growth in Tesla mobility initiatives like ride-share and autonomy. All that being said, Jonas is still Overweight on Tesla stock due to other non-EV bets in Tesla’s product universe. Elon Musk appears at an event with Britain's Prime Minister Rishi Sunak in London on Nov. 2, 2023. (Kirsty Wigglesworth/AP Photo, Pool, File) (ASSOCIATED PRESS) “Our thesis on Tesla is that it is both an auto stock + an energy, AI/robotics company,” Jonas said. “We believe investors should not ignore the continued developments of Tesla’s other plays, many of which are auto-related (i.e. the recurring revenue opportunity from the Tesla fleet — embedded in our Tesla Network Services valuation) and other areas that we do not include within our $320 target but that the market may include (i.e. Optimus).” Story continues AI firm OpenAI alleged on Tuesday that Elon Musk once tried to merge OpenAI with Tesla, which would have created an AI giant. Musk was an early investor in OpenAI and ended up suing it, accusing the firm of prioritizing profits over creating a public good. Pras Subramanian is a reporter for Yahoo Finance. You can follow him on Twitter and on Instagram. Click here for the latest stock market news and in-depth analysis, including events that move stocks Read the latest financial and business news from Yahoo Finance
How Much Money Do I Need To Live Entirely Off Dividends? Here's What Size Portfolio It Takes To Replace The Median Income 2024-03-07 04:48:00+00:00 - Living off dividends is a financial strategy that appeals to those aiming for a reliable income stream without tapping into their investment principal. This approach has intrigued many investors, from early-career individuals to those nearing retirement. Determining the necessary investment portfolio size to fund your lifestyle through dividends alone requires an understanding of annual expenses, expected dividend yields and the broader economic context. The foundational step in planning to live off dividends involves calculating annual living expenses and anticipated dividend yield from stocks you hold. A common target is creating a portfolio that generates sufficient dividend income to cover yearly costs, with additional funds to account for inflation and financial uncertainties. Don't Miss: Average retirement income in America has been revealed – Will you make enough each month ? Can you guess how many Americans successfully retire with $1,000,000 saved? The percentage may shock you. For individuals looking to match the median single-person salary of $59,384, as outlined by the Bureau of Labor Statistics for Q4 of 2023, the size of the investment portfolio needed to live entirely off dividends significantly changes with varying dividend yields. Here’s a breakdown of how much you would need to invest based on different yields: For a 2% dividend yield, an investment portfolio of approximately $2,969,200 is required to generate $59,384 in annual dividend income. With a 3% yield, the needed portfolio size decreases to about $1,979,466.67 to achieve the same annual income. A 4% dividend yield requires a smaller portfolio of $1,484,600 to produce $59,384 in yearly dividends. For those able to secure a 5% yield, the required investment drops further to $1,187,680. And at a 6% yield, the portfolio size needed to live off dividends reduces to $989,733.33. Dividend investing involves buying stocks of companies that distribute a part of their earnings to shareholders, usually quarterly. The dividend yield, a key metric, is the ratio of annual dividends per share to the price per share, expressed as a percentage. A higher yield indicates a better cash return on investment, but investors should also consider dividend growth investing, focusing on companies that consistently increase their dividends over time. Story continues – Trending: Over 50% of Ameicans don't think they are saving enough for retirement – Do you know if you are? – Living off dividends also entails considering taxes, the sustainability of dividend payments and personal expenses. Income from dividends, whether through a taxable brokerage account or traditional retirement accounts like 401(k)s and IRAs, is subject to taxation, which can impact the actual net income received from dividends. While high dividend yields might appear attractive, they are not always a reliable indicator of future performance. A company focused on distributing profits to shareholders may compromise its ability to invest in growth opportunities, potentially affecting long-term sustainability. Additionally, companies are not required to continue paying dividends and can cut those dividends at any time. For those considering a dividend-dependent lifestyle, it’s crucial to start with an honest assessment of what you can live with — and without. Creating a diversified portfolio, understanding the implications of dividend reinvestment plans (DRIPs) and being aware of tax efficiency are vital steps in maximizing dividend income while minimizing risks. The dream of living off dividends is attainable with the right financial planning and investment strategy. By carefully assessing your living expenses, choosing investments with an appropriate dividend yield and considering the tax implications, investors can build a portfolio that provides a sustainable income stream through dividends. Consulting a financial advisor can help ensure that your investment strategy is tailored to your unique financial situation, goals and risk tolerance, making the journey toward living off dividends more structured and informed. Don't Miss: How to turn a $100,000 investment into $1 Million — and retire a millionaire. If the average American household is a millionaire, why do people feel so broke? *This information is not financial advice, and personalized guidance from a financial adviser is recommended for making well-informed decisions. Jeannine Mancini has written about personal finance and investment for the past 13 years in a variety of publications including Zacks, The Nest and eHow. She is not a licensed financial adviser, and the content herein is for information purposes only and is not, and does not constitute or intend to constitute, investment advice or any investment service. While Mancini believes the information contained herein is reliable and derived from reliable sources, there is no representation, warranty or undertaking, stated or implied, as to the accuracy or completeness of the information. "ACTIVE INVESTORS' SECRET WEAPON" Supercharge Your Stock Market Game with the #1 "news & everything else" trading tool: Benzinga Pro - Click here to start Your 14-Day Trial Now! Get the latest stock analysis from Benzinga? This article How Much Money Do I Need To Live Entirely Off Dividends? Here's What Size Portfolio It Takes To Replace The Median Income originally appeared on Benzinga.com © 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Ask an Advisor: Can a Nursing Home ‘Take Our IRA?' My Wife and I Are Elderly. We Have a $100K IRA and a Trust to Protect Our Assets. 2024-03-07 02:49:00+00:00 - How Do We Protect Our IRA From the Nursing Home? My wife and I are elderly. I have an individual retirement account (IRA) worth about $100,000, and we have a trust set up through our children to protect our assets. If one or both of us have to go into a nursing home, can they take our IRA? What do we need to do to protect it? -Dawn Long-term care (LTC), which may include nursing home stays, is expensive and can quickly suck up savings you may have intended for something else. How do you prevent that from happening? The specific answer depends on variables you didn’t reveal. But in my experience, when people talk about “protecting” assets from LTC costs, they often have Medicaid in mind. So what does that look like? (And if you need more help planning for long-term care costs, consider working with a financial advisor). Qualifying for Long-Term Care Through Medicaid Medicaid is often viewed as a “safer” option for long-term care for the simple reason that it is less expensive and therefore less likely to drain your assets. But Medicaid eligibility is governed by strict income and asset limits. While those limits vary by state, having a $100,000 IRA will likely disqualify you from Medicaid coverage. So now you are faced with a paradox: The assets you want to save by means of cheap healthcare are an obstacle to getting cheap care in the first place. It is at this point that an estate attorney or well-meaning friend might suggest you rearrange your assets in such a way as to exempt them from the eligibility limits. The idea is to make yourself less wealthy on paper to qualify for Medicaid without actually giving away your assets. If this sounds tricky, that’s because it often is. For one thing, many states use a five-year lookback period when determining Medicaid eligibility. This means that if you do any fancy asset-shuffling in the five years before applying, your efforts will have been in vain. (And if you need help determining whether you’re eligible for Medicaid, consider matching with a financial advisor.) Story continues 3 Ways to Protect Your Assets from Medicaid How Do We Protect Our IRA From the Nursing Home? If you’re ready to be matched with local advisors that can help you achieve your financial goals, get started now. If you’re willing to plan ahead and do your homework, there are a few options for relocating your assets so that you can potentially qualify for Medicaid. Annuities: Any money you put into a “Medicaid-compliant” annuity will not count against your asset limit and will be exempt from the lookback period, as well. The catch – and it’s a big one – is that the money is totally locked up, except for whatever periodic payment you receive from the annuity. And that payment will count against the income eligibility limit. Home equity: In most cases, any equity you have in your primary residence will not count against the Medicaid asset limit. So you could protect your assets by putting them toward your mortgage or even upgrading your home. But the lookback period also applies here, and in some states, the government may claim part of your home equity to recoup care costs after your death. Trusts: You mentioned having a trust already set up, but there is a type of trust designed specifically for this situation. Putting your money into a Medicaid asset protection trust (MAPT) effectively hands it over to someone else, so it is technically no longer yours and does not count against your Medicaid eligibility. Just remember that the handoff must be completed five years before you go on Medicaid. As you may notice, the common problem with these methods is that they drastically restrict what you can do with your assets. And by taking away your financial independence, to some extent they leave you poor in reality – not just on paper. (And if you need help executing one of these strategies, consider matching with a financial advisor.) That may be preferable to the alternatives, but it depends on another variable: Why do you want to protect your assets from long-term care expenses, including nursing home costs, in the first place? Is Cheap Care Worth it? How Do We Protect Our IRA From the Nursing Home? The options discussed above often make the most sense as estate planning measures. If you do not expect to use your assets yourself and are instead concerned about preserving them for your heirs, perhaps it does not matter if they get locked up in a trust, an annuity or your home equity. But there is still an elephant in the room. Remember that these asset-protection techniques will ultimately leave you with cheap healthcare and long-term care. And that may impact your access to care and its overall quality. Ask yourself this: What are you trying to “protect” your money for? Is it worth all the hoop-jumping and the risk of mediocre care in your twilight years? It may be if you want to leave a sizable inheritance behind or save assets for your spouse. (And if you need more help with estate planning, consider working with a financial advisor.) Next Steps A middle-ground solution be the best course of action. Something like LTC insurance or an “aging-in-place” strategy may not completely protect your assets from long-term care costs. But such an option could reduce those costs while still providing the care that preserves your quality of life. Remember, the point of saving money is ultimately for your well-being and that of your loved ones – not just to save it for its own sake. Tips for Finding a Financial Advisor Finding a financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to three vetted financial advisors who serve your area, and you can interview your advisor matches at no cost to decide which one is right for you. If you’re ready to find an advisor who can help you achieve your financial goals, get started now. Consider a few advisors before settling on one. It’s important to make sure you find someone you trust to manage your money. As you consider your options, these are the questions you should ask an advisor to ensure you make the right choice. Graham Miller, CFP® is a SmartAsset financial planning columnist and answers reader questions on personal finance topics. Got a question you’d like answered? Email AskAnAdvisor@smartasset.com and your question may be answered in a future column. Please note that Graham is not a participant in the SmartAdvisor Match platform. Find more money insights from Graham at the Wiegand Financial blog. Photo credit: ©iStock.com/shapecharge, ©iStock.com/Ridofranz The post Ask an Advisor: Can a Nursing Home ‘Take Our IRA?’ My Wife and I Are Elderly. We Have a $100K IRA and a Trust to Protect Our Assets. appeared first on SmartAsset Blog.
I Want to Give My Daughter and Her Husband $50,000 For a Down Payment. Do I Have to Worry About the Gift Tax? 2024-03-07 02:46:00+00:00 - A woman hugs her father after receiving a $50,000 gift to be put toward her down payment on a home. Imagine you have $50,000 to give to your daughter and her husband for a down payment on their new home. The question is, will you owe gift taxes because of your generous gesture? Despite popular framing, the federal gift and estate taxes only apply to very wealthy households. Unless you have approximately $13 million to give away over your lifetime, these taxes likely won’t apply to you. A financial advisor can help you navigate and plan for gift and estate taxes. Find an advisor today. To be very clear, these are the rules for federal taxation. Every state also has its own tax laws and every tax profile is different, so make sure to speak with a financial or tax professional before making any plans for your own assets. However, there are two main issues to consider within this scenario: the mortgage process and potential gift tax implications. Down Payments and Gifts A person signs a check. With the mortgage and lender process, you want to ensure that you fill out all forms and requirements correctly. It is extremely unlikely that you can complicate the title to this property, but you can certainly complicate or invalidate the loan by making a mistake. When your daughter applies for her mortgage, the lender will go through her finances in detail. They want to know what assets she has, where they came from, what income she has and any other information related to how she will repay this debt. The down payment is intended as an indicator of this financial stability, so receiving it from a third party can raise concerns. Many lenders have rules around who can provide the money for a down payment. It's common for them to reject a mortgage with a gifted down payment unless that money comes from someone with a longstanding relationship to the borrower. Among other issues, this is intended to prevent fraud and money laundering. Since the borrower is your daughter, that shouldn’t be a problem. If you are giving the money directly to your daughter you will typically either need to "season" the money or provide a gift letter. Seasoning the money means transferring it more than 60 days in advance, again as an indicator of legitimacy against fraudulent transfers. A gift letter is a document signed by both the giver and the recipient confirming that this is a unilateral transfer with no right to repayment. Story continues The specific format of the gift letter will vary based on lender and jurisdiction, so consult an attorney about this document. A financial advisor can also potentially help you through this process. You may also make this transfer through the loan process, making the down payment on your daughter's behalf rather than transferring the money to her. The lender will require you and your daughter to disclose this during the loan application process. In and of itself, your gift will typically not be a problem, but failing to specify the difference between borrower and payer will almost always complicate (if not invalidate) the loan. Gift Tax Exclusions and Exemption Limits The federal gift tax only applies to people who have gifted millions of dollars over the course of their lives. Beyond the rules that surround making a gift of this sort, your main consideration here is the gift tax. This is a tax that the IRS places on unilateral transfers. If you give someone money or assets without expecting fair-value compensation in return, you have given them a gift. If you give them enough money, eventually you (the gift giver) must pay taxes on the transfer. Gift tax rates range from 18% to 40% based on the size of the gift. However, the gift tax only applies to very few households due to a pair of important tax provisions: an annual exclusion and a lifetime exemption limit. And if you have additional questions about either, consider speaking with a financial advisor. Annual Exclusion The first is the gift tax's annual exclusion. This is the amount of money you can give to someone each year regardless of gifts in past or future years. In 2023, the annual exclusion is set at $17,000 for individuals and $34,000 for married couples who file their taxes jointly. In 2024, those limits will increase to $18,000 for individuals and $36,000 for married couples. The annual exclusion applies on a per-recipient basis. So, for example, say that you had four children. You could give each of them $17,000 in 2023 without triggering any gift taxes. Lifetime Exemption The lifetime gift and estate tax exemption is the amount of money you can give away over the course of your life – or at your death – without triggering either gift or estate taxes. For gifts that exceed the annual exclusion, the difference is applied to your lifetime exemption. If you give someone a gift over that year's annual exclusion and have exhausted your lifetime exemption, you’ll owe gift taxes on the amount of money that exceeds that year’s exclusion. In 2023, the lifetime gift and estate tax exemption is $12.92 million for individuals, which means married couples have a combined exemption limit of $25.84 million. In 2024, the exemption will increase to $13.61 million for individuals and $27.22 million for married couples. If an individual has already gifted $12.92 million over the exclusion limits by 2023, they will be able to gift another $690,000 in 2024 (not including the annual exclusion amount). Unlike the annual exclusion, the lifetime exemption does not reset. While you can gift up to the annual exclusion each year, any remainder permanently reduces your lifetime cap. The lifetime exemption is on a per-donor basis, meaning that it applies collectively to all gifts you have given. For example, say that in 2023 you give $20,000 to each of your four children. Each gift exceeds the exclusion by $3,000. Collectively, they would lower your lifetime gift and estate tax exemption by $12,000. Gift Taxes And Down Payments When it comes to your daughter's down payment, the tax issues are this: Are you married? And how much have you given away throughout your life? Let’s assume you’re single for simplicity’s sake. First, if you give her the down payment money in 2023, the first $17,000 of the gift will automatically be free of any potential tax liability. However, since the gift exceeds the annual exclusion by $33,000, that remainder will lower your lifetime exemption. So, for example, if you have never given anyone a taxable gift, you will pay no gift tax and your annual exclusion will be reduced to $12.887 million ($12.92 million minus $33,000). If you have already exhausted your lifetime exemption, you would have to pay taxes on the $33,000. However, there would still be ways to manage this potential tax liability. If you could wait until 2024 to give your daughter the money, your lifetime exemption would go up to $13.61 million. You can apply the remainder to the newly raised cap and will owe no taxes on the excess gift. But if you need additional help managing your tax liability, consider working with a financial advisor. Bottom Line Unless you have gifted more than $12.92 million over your lifetime, you can almost certainly give a $50,000 down payment to your daughter or other family member and not owe gift taxes in 2023. Just be careful to do the paperwork right, otherwise, it could complicate the loan. Gift Tax Tips Will the fact that this is your daughter complicate things? While the IRS does not treat gifts from parents differently, large gifts within a wealthy family can potentially complicate future planning around trusts and estates. A financial advisor can help you strategically give away assets to lower your potential estate tax liability. Finding a financial advisor doesn't have to be hard. SmartAsset's free tool matches you with up to three vetted financial advisors who serve your area, and you can have a free introductory call with your advisor matches to decide which one you feel is right for you. If you're ready to find an advisor who can help you achieve your financial goals, get started now. Photo credit: ©iStock.com/gradyreese, ©iStock.com/payphoto, ©iStock.com/designer491 The post I Want to Give My Daughter and Her Husband $50,000 For a Down Payment. Do I Have to Worry About the Gift Tax? appeared first on SmartReads by SmartAsset.
NYCB Tumbles as Beleaguered Lender Tries to Raise Equity Capital 2024-03-07 01:55:00+00:00 - (Bloomberg) -- New York Community Bancorp dropped as much as 47% as the beleaguered commercial real estate lender tries to raise equity capital to restore investor confidence. Most Read from Bloomberg Bankers are gauging investors’ interest in buying stock, a person familiar with the matter said Wednesday. The company is working with advisers including Jefferies Financial Group Inc., according to people with knowledge of the matter. The shares have lost more than three-quarters of their value this year after NYCB slashed its dividend and set aside more provisions than expected for loan losses. Last week, it announced it was replacing its chief executive officer and had identified “material weaknesses” in how it tracks loan risks. Read More: NYCB Ballooned Despite Real Estate Warnings in Years Before Fall Representatives for NYCB didn’t immediately respond to calls and messages seeking comment. Jefferies declined to comment. The Wall Street Journal reported the attempts to raise equity capital earlier Wednesday. Trading was halted for pending news at 12:34 p.m. in New York, with the stock down 42% at the time of the halt. They’re down 82% this year. NYCB is a major lender to owners of apartment buildings subject to tough New York rent laws, limiting the revenue units can generate. It also financed offices in a region beset by vacancies in the work-from-home era. Credit-rating firms have slashed the company’s grades to junk, with Moody’s Investors Service predicting the bank may set aside more money for souring loans over the next two years. Some of the pressure on NYCB was exacerbated by its rapid growth through acquisitions in recent years. Takeovers of rival lender Flagstar Bancorp and parts of Signature Bank almost doubled the firm’s size. As its assets swelled beyond $100 billion, NYCB faced more stringent capital requirements for so-called Category IV banks in light of their systemic importance. Story continues --With assistance from Gillian Tan, David Scheer and Katherine Doherty. Most Read from Bloomberg Businessweek ©2024 Bloomberg L.P.
Craziest Call In Sports This Week: Swimmer Stripped Of Win After Technical Disqualification - 'So Sad And Stupid' 2024-03-06 21:45:00+00:00 - Loading... Loading... In what one competitor dubbed, “the dumbest rule in swimming,” a college sportsman was stripped of his win and conference title last weekend for celebrating with his teammate. Owen Lloyd, an All-American senior on the North Carolina State University swimming team, finished first in the 1,650-yard freestyle final at the Atlantic Coast Conference (ACC) Swimming and Diving Championships, having touched the finishing board in just 14:37.04 to claim the top podium position. Just seconds behind him, and in the adjacent lane, Lloyd’s teammate Ross Dant finished in second place. In jubilation, Lloyd climbed onto the barrier and, as he reached to Dant to celebrate with him, Lloyd fell into his teammate’s lane, which was spotted by race officials. The win, the celebrations, and then the terrible moment when Owen Lloyd is disqualified Why Should This Matter? Lloyd’s face turned from joy to horror as he realized he was being disqualified for interfering with another swimmer while the race was still going on — even though Dant had already finished. The meet’s chief referee enforced Rule 2, Section 5 of the National Collegiate Athletic Association rulebook, that states: "A swimmer who changes lanes during a heat shall be disqualified.” Speaking to a reporter immediately after the decision, Dant, who was promoted to first place, said: “I think that’s the dumbest rule in swimming. Lloyd beat me fair and square and he should be at the top of that podium.” Clearly furious at the decision to disqualify his teammate, Dant continued: “He was excited. That was a huge win for him. He earned that, and that was his emotion. We train all year for a moment like that, and to have him disqualified is the dumbest thing ever.” And in a gesture of solidarity, Dant concluded: “He worked so hard every day. He is going to be on that number 1 trophy. I am not going to stand up there. He will be getting that medal.” Reaction On Social Media Loading... Loading... Amy Van Dyken-Rouen, a former Olympic champion swimmer and the commentator on the coverage of the ACC event, spoke later on a video on X, with her thoughts about the disqualification. “Owen Lloyd celebrated. Did he go into Ross Dant’s lane? Yes he did. Did he interfere with anybody? No, he did not. My problem with this whole thing is, if you’re going to call that, you have call everything.” She noted that at the same meet, she’d seen backstroke swimmers entering the pool by diving in, where the rules state they should enter feet first. “If you call Owen Lloyd for interfering — which he did not — you’ve got to call them all,” she concluded. Will Kunkel, Fox’s sports director said on X: “Outrageous. Can we not have some discretion here? This is so sad and stupid.” Keith Backer, in response to Kunkel’s post, replied: “While it is seemingly easy to be sympathetic in this instance (as was I initially), Every competitive swimmer is coached about this rule. It is there to protect the other athletes who may still be swimming.” Now Read: Sports Betting To Pay Off Student Loans? New Trend Takes Over TikTok Image created using artificial intelligence with Midjourney.
FDA Approval For DexCom's Stelo Opens Continuous Glucose Monitoring To Masses, Analyst Expects Competitive Pricing Against Abbott's - DexCom (NASDAQ:DXCM) 2024-03-06 21:44:00+00:00 - Loading... Loading... Tuesday, the FDA approved DexCom Inc’s DXCM Stelo Glucose Biosensor System as the first over-the-counter (OTC) continuous glucose monitor (CGM). The Dexcom Stelo Glucose Biosensor System is an integrated CGM (iCGM) intended for anyone 18 years and older who does not use insulin. William Blair states that although initial pricing details for Stelo are undisclosed, it is anticipated to be competitive with Abbott Laboratories ABT current cash-pay price of approximately $80 per month. DexCom, historically priced slightly higher than Abbott, is estimated at $90 per month, with potential cost reductions for patients through HSA benefits based on their tax bracket. The analyst notes the FDA’s suggestion of requiring prior iCGM (integrated Continuous Glucose Monitoring) approval for OTC devices sets a high regulatory standard, favoring established players like DexCom and Abbott. Meeting the criteria for iCGM accuracy is expensive and time-consuming, creating a significant hurdle for potential competitors. The market for Stelo, catering to non-insulin-dependent diabetics (over 25 million patients), offers substantial opportunities beyond the core insulin therapy markets, William Blair highlights. With potential applications for prediabetics and metabolic health, the expanding prevalence of obesity and a growing number of type 2 diabetics contribute to a rising demand for CGM technology. The combined market potential for DexCom and Abbott is estimated to reach over 100 million individuals, including prediabetics and potential metabolic health users, as the companies embark on their next growth phase. Abbott has considered introducing Lingo, a product potentially receiving OTC approval, focusing on health and wellness. However, it’s worth highlighting that Stelo, at least in the short term, stands out as the sole OTC device designed specifically for type 2 non-insulin-dependent diabetics. Price Action: DXCM shares closed higher by 7.83% at $131.32 on the last check Wednesday. Photo via Company
Best TV deals in March: Get up to 50% off OLED and QLED displays 2024-03-06 21:42:59+00:00 - When you buy through our links, Business Insider may earn an affiliate commission. Learn more March Madness is approaching, and if you're aiming to watch the tournament on a brand-new TV, now's your chance to snag an excellent discount. TV deals are available at many retailers, including Amazon, Best Buy, and Walmart, and we expect more sales to pop up over the coming days The best TV deals right now include a fantastic 50% discount on a huge 98-inch TCL 4K TV. If you want something smaller and less expensive, we recommend the 65-inch Hisense U6K, which is on sale for only $548. The U6K is our top budget pick in our guide to the best TVs. Below, our experienced deal hunters and tech experts have compiled all the best TV deals across various sizes and budgets. We add new deals regularly, so if the TV you've been eyeing isn't on sale, check back for all the latest price drops. Best TV deals on 24- to 50-inch models Insignia 24-inch Class F20 Fire TV $74.99 $99.99 Save 25% This Insignia 720p TV is as basic as a display gets, but if you're looking for a small, compact smart TV that you can put in a kitchen or dorm, you're not likely to find a more inexpensive option out there. Shop at Amazon Amazon 32-inch Fire TV 2-Series $119.99 $199.99 Save 40% This basic entry-level 720p Fire TV set comes with an Alexa voice remote to navigate Amazon's smart software effortlessly. This is only $10 more than what we saw on Black Friday. Shop at Amazon LG 48-inch Class A2 Series 4K OLED Smart TV $599.99 $1,299.99 Save 54% If you've got a smaller space and don't need a large screen, this deal is tough to beat for a 4K display with superb picture quality. This model is dimmer than LG's more expensive models and has a slower 60Hz refresh rate, but the A2 is the most affordable OLED you can snag right now. Note: The A2 is only in stock at select Best Buy locations. Shop at Best Buy Hisense 50-inch U6HF QLED 4K Fire TV $339.99 $423.79 Save 20% This 50-inch 4K display has Amazon's Fire TV platform built-in for easy access to many popular streaming apps. It also boasts advanced picture quality features like wide color support, up to 600 nits of brightness, and local dimming. This is just $40 more than the all-time low this model has dipped to. Shop at Amazon Best TV deals on 55-inch displays TCL Q5 55-inch Google TV $279.99 $449.99 Save 38% This 55-inch TCL TV uses a QLED panel, which offers great color performance. It lacks local dimming and native 120Hz support but otherwise has all the trappings needed for modern gaming and home cinemas. This is an excellent deal price for a 55-inch set in this class. Shop at Best Buy Hisense 55-inch U6K QLED 4K TV $448.00 $579.99 Save 23% Hisense’s U6K is one of the best budget 4K TVs you can buy. It has quantum dots, local dimming, and a Mini LED backlight to deliver better contrast and color performance than virtually any competitor in its price range. Shop at Amazon Samsung 55-inch 4K QLED Frame TV $997.99 $1,497.99 Save 33% Samsung's The Frame QLED has a matte display and thin build, making it look more like a piece of art hanging on your wall than a TV. We’ve rarely seen the price dip below $1,200, so now is a great time to buy if you’ve been considering this model. Shop at Amazon Samsung 55-inch S90C 4K OLED TV $1,397.99 $1,897.99 Save 26% Samsung's S90C is our favorite 4K TV, thanks to its high-contrast OLED panel and excellent color performance with quantum dots. The 55-inch model is rarely sold for under $1,500, so this is a fantastic deal price. Shop at Amazon Best TV deals on 65-inch sets Hisense 65-inch U6K QLED 4K TV $548.00 $799.99 Save 31% Hisense’s U6K is one of the best budget TVs you can buy. The 4K display boasts quantum dots, local dimming, and a Mini LED backlight to deliver better contrast and color performance than most competitors in its price range. This isn't the lowest price we've seen, but it's still an incredible deal for a Mini LED TV. Shop at Amazon LG 65-inch B3 OLED 4K TV $1,296.99 $1,496.99 Save 13% Though the B3 isn't the most advanced OLED TV, it's the most budget-friendly model and still delivers an infinite contrast ratio. This deal price makes it one of the cheapest 65-inch OLEDs you can buy. Shop at Amazon Samsung S90C 65-inch 4K OLED TV $1,597.99 $1,997.99 Save 20% The S90C is our pick for the top TV you can buy right now. It delivers premium 4K image quality with top-of-the-line contrast and quantum dot color for less than similar OLEDs from LG and Sony. Currently, it's back down to the deal price we saw on Black Friday. Shop at Amazon Samsung 65-Inch QN90C Neo QLED 4K TV $1,597.99 $2,797.99 Save 43% This Samsung TV is one of the best QLEDs you can get, and its super-bright picture is an especially great fit for living rooms that let in a lot of light. It's on sale now for even less than we saw on Black Friday, but not quite as low as it dipped to right before Christmas. Shop at Amazon Best TV deals on 75- to 100-inch displays Hisense 75-inch R6 4K TV $498.00 $578.00 Save 14% Hisense's R6 only offers basic picture performance, but it uses the Roku TV interface for easy and convenient streaming. It lacks advanced image quality features, but under $500 for a 75-inch 4K TV is a great deal. Shop at Walmart Samsung 75-inch CU7000 4K TV $598.00 $749.99 Save 20% The CU7000 delivers decent performance for budget TV shoppers who favor the Samsung brand. This is a good deal for an entry-level 75-inch set, but you do miss out on picture-quality perks like local dimming and quantum dots that you can get on similarly priced TVs from brands like Hisense. Shop at Walmart Samsung 77-inch S89C 4K OLED TV $2,199.99 $3,599.99 Save 39% The S89C is a slight variation of our current favorite TV overall, the S90C. It delivers the same incredible OLED contrast and quantum dot color performance but comes with attachable feet for a stand rather than a pedestal design. The 77-inch S89C sells for about $300 less than its S90C counterpart, making this model a better value overall. Shop at Best Buy LG 77-inch B3 4K TV $1,796.99 $2,296.99 Save 22% The B3 is LG's current entry-level OLED. It's not as bright as more expensive models but delivers the same infinite contrast ratio for a more budget-friendly price. Though we think Samsung's OLEDs have an edge in picture quality, this is an excellent deal price if you prefer the LG brand. Shop at Amazon Samsung 85-inch QN85C 4K TV $2,197.99 $3,797.99 Save 42% This midrange Neo QLED TV has a Mini LED backlight with local dimming and quantum dots for excellent color and contrast performance. This is a new all-time low deal price and an excellent value for a TV this big and with this level of performance. Shop at Amazon TCL 98-inch S5 4K TV $1,998.00 $3,999.99 Save 50% This giant TCL TV model lacks advanced image quality features, but it's rare to find a TV this large for this price. If the 100-inch Hisense U76 is out of stock or the 98-inch TCL QM8 is too expensive, we recommend this model as your next best bet at this size. Shop at Amazon Hisense 100-inch U76 4K QLED TV $2,999.99 $4,999.99 Save 40% Though it was on sale for even less last month, this is a great deal price for a 100-inch TV like this. TCL's 98-inch S5 TV costs less, but the U76 has better picture quality. If you want a gigantic display, this is the top bang-for-your-buck option. Just note that stock is dependent on your location. If it's sold out, we recommend TCL's S5 as the best alternative. Shop at Best Buy Is now a good time to buy a TV? TVs go on sale throughout the year, but we tend to see the biggest discounts during deal events like Black Friday, Cyber Monday, and Amazon Prime Day. Sales also pop up around major sporting events, like the Super Bowl and the March Madness NCAA basketball tournament. With March Madness approaching, we're already seeing some solid deals and expect bigger price drops over the coming days. Buyers should also remember that new 2024 TV models will start rolling out to stores in late March. However, 2023 TVs will still be available as long as they remain in stock. Generally, performance upgrades tend to be minor from year to year, and new models are often much more expensive than their predecessors. Want to browse more TV sales? The TV deals we highlight above are only a fraction of what's available across all our recommended retailers. Best Buy, Walmart, Amazon, and more have a vast selection of models to fit your unique needs. Below, we've also listed a few other great sources to check if you need more options. How do I choose the right TV? Choosing the right TV can be tricky. There are many sizes, brands, and display types, and prices vary considerably depending on your desired features. You can find small HDTVs for as little as $100 on the low end with either a 720p or 1080p screen. Decent 4K TVs tend to start at around $300 to $500 depending on size, and generally, you can expect better quality for each extra hundred you spend. On the high end, the best 4K TVs in bigger screen sizes can cost $1,500 or more. When choosing a TV, you'll want to start by establishing how much you want to spend, typically tied to how big you want your display to be. Also, consider whether you're willing to spend extra to get the best picture quality. If you already have a TV size in mind, check out our guides to the best 55-inch TVs, the best 65-inch TVs, and the best 75-inch TVs to see our top recommendations. If you prioritize high-end image performance, you'll want to opt for a 4K TV with an OLED panel or a QLED screen that includes features like local dimming and quantum dots. These technologies enable the richest colors and highest contrast for a gorgeous HDR image. Are you a gamer? Make sure to get something with a 120Hz screen and variable refresh rate to support the latest Xbox Series X and PS5 features. And movie and TV buffs will want Dolby Vision and Dolby Atmos for the best cinematic flare. On the other hand, buyers who just want a simple smart TV for casual viewing will be satisfied with any reliable entry-level model. These options use standard, budget-friendly LED screens. Though picture quality won't be as impressive as pricier models, there are plenty of cheap 4K TVs with solid performance, including budget picks that still offer 4K, HDR, and many apps. OLED vs. QLED: What's the difference? If you're in the market for a midrange or high-end TV, you'll likely find yourself deciding between two display types: OLED vs. QLED. They each have pros and cons, but we think the best OLED TVs deliver the top image performance for home theater fans. OLED TVs use self-illuminating screens that precisely dim and brighten each pixel to create an infinite contrast ratio. This makes an OLED display the top choice for buyers who want the absolute best picture quality for watching movies or playing games in a dark home theater room. One major downside to OLED TVs is that they can suffer from image retention or burn-in. However, current models are equipped with hardware and software tools to combat this, and you can mitigate the chances of producing burn-in by ensuring certain static elements (like heads-up displays in games or news tickers) don't remain on the screen for excessive hours. On the other hand, QLED TVs rely on older LCD panel technology that uses a backlight to illuminate their screens. These backlights can have multiple zones to dim specific areas, but even the best QLED displays can't match the pixel-level contrast of an OLED. This can cause an uneven look in dark scenes with halos around bright objects or washed-out black levels that look gray. Where QLED TVs have an edge, though, is with peak brightness. Midrange and high-end QLED TVs can get brighter than most OLEDs. This makes a QLED TV a better fit for rooms that let in a lot of light, and they give an extra bit of HDR pop when very bright highlights are on-screen. QLED models also tend to be less expensive than OLED TVs and present no risk of burn-in.
I'm an interior decorator. Here are 10 things I'd never have in my bathroom. 2024-03-06 21:41:52+00:00 - Black toilets kind of scare me — plus they can be hard to keep clean. I always pass on the black-toilet trend. Flipser/Shutterstock Black toilets remind me of the uncomfortable feeling of using portable toilets — in which you really don't want to see the bottom. A black toilet might seem like a chic, modern choice, but the color can make it harder to clean. Though a white toilet shows dust, watermarks, and smudges, a black one hides all the grime and buildup. If you want to bring a moody-chic look into the bathroom, do it with black towel rods and fixtures rather than a toilet.
Gov. Gavin Newsom’s campaign donor says his Panera Bread restaurants will follow minimum wage law 2024-03-06 21:35:46+00:00 - SACRAMENTO, Calif. (AP) — A wealthy campaign donor of California Gov. Gavin Newsom said the Panera Bread restaurants he owns will start paying workers at least $20 an hour on April 1 after controversy over whether a new state minimum wage law for fast food workers applies to his businesses. California’s statewide minimum wage is $16 per hour. Newsom signed a law last year that says fast food restaurants that are part of a chain with at least 60 locations nationally must pay their workers at least $20 per hour beginning April 1. But the law does not apply to restaurants that have their own bakeries to make and sell bread as a stand-alone menu item. That exception appeared to apply to restaurants like Panera Bread. Last week, Bloomberg News reported that Newsom had pushed for such a carve-out to benefit donor Greg Flynn, whose company owns and operates 24 Panera Bread restaurants in California. The Democratic governor and Flynn denied the report, with Newsom calling it “absurd.” Newsom spokesperson Alex Stack said the administration’s legal team analyzed the law “in response to recent news articles” and concluded Panera Bread restaurants are likely not exempt because the dough they use to make bread is mixed off site. Flynn has not said whether he agrees with the Newsom administration’s interpretation. But on Tuesday, he announced that all of the Panera Bread restaurants his company owns and operates will pay all hourly workers pre-tip wages of “$20 per hour or higher.” “At Flynn Group, we are in the people business and believe our people are our most valuable assets,” Flynn said. “Our goal is to attract and retain the best team members to deliver the restaurant experience our guests know and love.” Flynn had previously said the exemption has “very little practical value” because — even if Panera Bread restaurants were exempt — its competitors in the fast-food world were not exempt and Panera would have to pay similar wages order to attract and retain workers. He declined an interview request through a spokesperson. There are 188 Panera Bread restaurants in California. Panera Bread representatives did not comment on Wednesday as to whether they believe the minimum wage law applies to all of their restaurants. Chris Micheli, a California lobbyist and adjunct professor of law at McGeorge School of Law, said Flynn likely would have had a good case had he chose to challenge the Newsom administration’s interpretation of the law. The law defines what a fast-food restaurant is, and says it is not an establishment that “operates a bakery that produces for sale on the establishment’s premises bread.” The law goes on to say the exemption only applies “where the establishment produces for sale bread as a stand-alone menu item, and does not apply if the bread is available for sale solely as part of another menu item.” “On its face it appears that it would be applicable, however a court might have to determine what is included in the word ‘produce’ in order for the exemption to apply,” Micheli said. As for which businesses would be exempt from the law, Newsom’s office said the newly created Fast Food Council “may develop regulations and the Labor Commissioner has enforcement authority over individual claims based on the facts of individual cases.” “Ultimately, the courts may have to make the final ruling,” said Alex Stack, Newsom’s spokesperson. Last week, Flynn denied asking for an exemption or “special considerations.” He said he did participate in a group meeting with some of Newsom’s staff and other restaurant owners. He said if the intent of the bill was to address labor code violations in the fast-food industry, he suggested the bill make a distinction between fast-food restaurants and “fast-casual restaurants.” In an interview with KNBC in Los Angeles earlier this week, Newsom said negotiations about the law included “some discussions around bakeries and this and that,” but he said those talks were only “as it relates to the carve-outs and the details that were done with this deep coalition” that included labor unions and fast-food industry representatives. The political effects of the issue could linger. Republicans in the state Legislature have called for an investigation. While Flynn now won’t benefit from the exemption in the law, that likely won’t deter Newsom’s opponents from using the allegations against him. “Anyone who wants to take a shot at Newsom will use this. That’s just politics,” said Kevin Liao, a California-based Democratic political consultant. “When you have someone who many think has national aspirations, they are going to pick at any scab that exists and try to exploit it.”
We got a 2.6% mortgage rate this year to buy our first home. Here's how we did it. 2024-03-06 21:34:08+00:00 - Grace Lucchese and Mickey Ricard bought a home with a 2.6% interest rate via an assumable mortgage. The lower mortgage rate is saving the couple more than $2,000 each month. The couple said the process for assuming a mortgage was long and tedious but worth it. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read preview Thanks for signing up! Access your favorite topics in a personalized feed while you're on the go. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . You can opt-out at any time. Advertisement This as-told-to essay is based on a conversation with Grace Lucchese, 23, a behavioral analyst, and her partner, Mickey Ricard, 24, a veteran and an HVAC technician, who purchased a home with an assumable mortgage in Westford, Massachusetts in January. An assumable mortgage allows qualifying buyers to acquire the interest rate, current principal balance, and other conditions of a seller's existing loan. Not all loans can be assumed. The essay has been edited for length and clarity. Grace: We live in Massachusetts. The housing market is pretty crazy here. Mickey got out of the military back in 2020, and I graduated from college in 2022, right in the middle of COVID. At first, we lived in Lawrence, then moved to Framingham, and finally to my hometown in Sudbury, where we lived in an apartment. We were paying ridiculous prices for rent, and our money was going nowhere. We also have a dog with special needs, so we wanted to find a home with a backyard. Advertisement Lucchese, Ricard, and their dog Moon inside their new home. Courtesy of Grace Lucchese During our home-buying search, we looked all around Boston. We could not find a home that was move-in ready and under $650,000. We put offers on probably seven different homes and got into bidding wars on two of them. The last home we saw before making a purchase was a complete fixer-upper. It was going to require almost a full gut on the inside, and it was expensive. It would have been a stretch for us to renovate and make monthly payments, but we were willing to do it. Unfortunately, we lost it in a bidding war. We kind of gave up for a while. Then my mom texted us one day and said, "I know you're discouraged, but you should just go and look at this house." It was really beautiful and priced a lot more than what we were looking at, but it ended up being the greatest opportunity we had. Advertisement We are saving thousands of dollars each month Mickey: The home is located in Westford, Massachusetts. It's a two-story Colonial built in 1885, with 1,600 square feet, three bedrooms, and one bathroom. Grace: Mickey's dad grew up in this town, and we really fell in love with how historical-looking it was. We also liked that it was a tighter-knit community. Mickey: It's safe around here and a really good town. The couple's Massachusetts home. Courtesy of Grace Lucchese Mickey: Our home was originally listed for $429,000. When we were negotiating with the seller and trying to talk him down on the price, they brought up the assumable loan — I had no clue what that type of mortgage was. Advertisement Grace: An assumable mortgage is not a new loan, you're just taking over the owner's loan term and interest rate. At first, it sounded too good to be true. When we were first looking for homes, the interest rate was around the higher sevens. Grace: We talked about the assumable mortgage for about a day and decided we were going to go for it. We put an offer on the house on September 27 and finally closed on January 16. We made a down payment of $13,000 and purchased our home for $422,500. We have a 2.6% interest rate. If we took out a regular veteran (VA) home loan, our payment was going to be around $4,200 each month. But with the assumable loan, our monthly payment went down to $1,700. With homeowners' insurance included, it's about $2,100 per month. The home has a 30-year mortgage with 26 years left. Its previous owner originally had a $419,000 mortgage, but when we got it had already dropped to between $403,000 and $405,000. Advertisement We had to advocate for ourselves during the loan process Grace: It took us almost six months to close on our house, which is a really long time when buying a home. Mickey: We thought the process of assuming a loan would be easier because you're not getting a new loan, but it was a lot more difficult. The problem is that a lot of people, even mortgage companies, don't know what assumable loans are or how to process them. I was told probably at least 10 times by the mortgage company that they weren't going to be able to do the mortgage. Grace: We also really struggled with people not calling us back and getting the ball rolling. Advertisement Luckily, we had a lot of people on our team whom we trusted completely, like my best friend's dad, who was our real-estate agent. He put us in contact with an assumable loan expert, Mark McDonough, and he quickly became one of the most important people on our side. Mickey: You need someone who knows all the laws, especially regarding mortgages. That's why it was great to have him. Every time I said, "The mortgage company told me I can't get the loan," he would remind them of my legal rights and they'd get the job done. Grace: We would not have been able to really understand the process and close our loan without Mark and our attorney, Paul. We're the youngest homeowners in our family Mickey: I always wanted to reach this point in my life and become a homeowner. I just wasn't sure it would happen. And now that it has, it still doesn't feel real. Advertisement Grace: We say it all the time, but we can't even believe this is our home. We wanted to invest in something within ourselves and each other, and we worked really hard to get here. It's such a huge accomplishment for us. We're young, in our early 20s, and the youngest homebuyers in both of our families. The couple's living room. Courtesy of Grace Lucchese Grace: We've put a couple of thousand dollars into the house already. We got a new roof, completely redid the kitchen, and refinished the living room, bathroom, and bedroom floors. However, our biggest priority in our life right now is our dog. She has epilepsy and is two years old. So we're frequent fliers at the ER vet, and it's thousands of dollars each time. When we were originally looking for a home, a tough conversation we had was about being able to afford emergency vet visits for her. We realized that with the prices of the homes we were considering, it might not be feasible to spend $1,000 on her care. This was crucial for us because she could lose her life. Advertisement Now that our assumable mortgage is saving us about $2,000 each month, it makes the stress a little less because we have the option of having more money available. Grace Lucchese, Mickey Ricard, and their dog. Courtesy of Grace Lucchese Grace: Assumable mortgages are still not very common in Massachusetts. I think it's because of all the loopholes and hurdles you have to jump through to find and process them. I think it's worth it, though. We recommend them to everyone. I keep saying that we have to die in this home because it was the deal of a century. We literally won the lottery.
Court order permanently blocks Florida gun retailer from selling certain gun parts in New York 2024-03-06 21:31:33+00:00 - ALBANY, N.Y. (AP) — A federal judge on Wednesday permanently banned a Florida gun retailer from selling or delivering certain gun parts in New York that officials say can be used to assemble untraceable ghost guns and sold without background checks. The court order and approximately $7.8 million judgment from Judge Jesse Furman come after New York Attorney General Letitia James sued Indie Guns and nine other gun retailers in 2022 in state Supreme Court in Manhattan for allegedly selling tens of thousands of its products to New Yorkers, James’ office said. The lawsuit was first filed in state Supreme Court but was later moved to federal court after Indie Guns and the other defendants filed a motion that said claims in the lawsuit “raise a substantial federal question.” Indie Guns, which specializes in selling and shipping components used to create ghost guns, negligently sold unfinished frames and receivers — core parts of a firearm — to people it knew were likely to use them in a dangerous manner, according to the judgment. It also found that the retailer made at least $3.9 million in illegal profits and would likely continue to violate local, state, and federal laws. The retailer is permanently barred from selling, delivering, or giving away any unfinished frames or receivers in the state of New York, according to the judgment. Indie Guns, which advertises some of its products on its website as “UNSERIALIZED UNREGISTERED UNTRACABLE,” must also pay approximately $7.8 million to the state. A man who answered the Indie Guns phone line and identified himself as owner Lawrence Destefano called the lawsuit “frivolous.” He said he plans to fight the $7.8 million judgment. The lawsuit against the nine remaining defendants is ongoing, James’ office said. “Indie Guns refused to follow New York and federal law and tried to flood our streets with ghost guns — but now they are paying the price for those bad actions,” said James in a statement. “These deadly weapons are designed to be untraceable and can easily end up in the hands of people otherwise barred from owning guns.” Under current state law, the sale of an unfinished frame or receiver is a felony. ___ Maysoon Khan is a corps member for the Associated Press/Report for America Statehouse News Initiative. Report for America is a nonprofit national service program that places journalists in local newsrooms to report on undercovered issues.
Statement from Groupe Juste pour rire inc. regarding Just for Laughs Toronto 2024-03-06 21:29:00+00:00 - Loading... Loading... TORONTO, March 6, 2024 /CNW/ - Following the announcement on March 5, 2024, of the initiation of formal restructuring proceedings by Groupe Juste pour rire inc. ("JPR"), the company would like to clarify that the 2024 edition of the Just for Laughs Toronto festival will not take place. Once the restructuring of the organization is completed, JPR hopes that the festival will take place in 2025. SOURCE JUST FOR LAUGHS GROUP
Promising HIV Treatment: Phase 2 Clinical Trial Success for Gilead's and Merck's Combo Therapy - Merck & Co (NYSE:MRK), Gilead Sciences (NASDAQ:GILD) 2024-03-06 21:26:00+00:00 - Loading... Loading... Gilead Sciences Inc GILD and Merck & Co Inc MRK released results from the Phase 2 clinical study evaluating the combination of islatravir and lenacapavir for HIV infection. At 24 weeks, the investigational combination maintained a high rate (94.2%) of viral suppression (HIV-1 RNA <50 copies/mL), which is a secondary endpoint of the study. Also Read: Crucial Battle Over Healthcare Mandates: Biden Administration Defends Preventive Care Coverage Amidst Legal Challenges. Results of the primary endpoint (HIV-1 RNA ≥50 copies/mL (c/mL) showed that one participant (1.9%) treated with islatravir and lenacapavir had a viral load of >50 copies/mL at Week 24; the participant later suppressed on islatravir and lenacapavir at Week 30. The potent antiviral activities and pharmacokinetic profiles of islatravir and lenacapavir support their development as an investigational once-weekly oral combination regimen. In this open-label, active-controlled study, virologically suppressed adults (n=104) on Biktarvy (bictegravir 50 mg/emtricitabine 200 mg/tenofovir alafenamide 25 mg tablets, B/F/TAF) were randomly allocated in a 1:1 ratio to receive either oral islatravir 2 mg and lenacapavir 300 mg once a week (n=52) or to continue daily oral Biktarvy (n=52). No participants in the Biktarvy group had a viral load of more than 50 copies/mL at Week 24. Results of the secondary endpoint, as measured by the proportion of individuals with HIV-1 RNA < 50 c/mL at Week 24, showed that participants who switched to treatment with once-weekly islatravir and lenacapavir or continued Biktarvy both maintained comparable high rates of HIV suppression at Week 24 (94.2% v. 94.2%). Grade 1 and 2 treatment-related adverse events reported in the islatravir and lenacapavir group included dry mouth and nausea (each 3.8%). No grade 1 and 2 TRAEs were reported in the Biktarvy group. The Phase 2 study will continue in an open-label fashion through Week 48. Longer-term data will be presented at a future scientific conference. Read Next: Pfizer/GSK-Backed ViiV Healthcare’s HIV Drug Associated With Increased Resistance, WHO Report Says. Price Action: GSK shares closed up 0.05% at $42.62, and MRK stock up 0.75% at $123.75 on Wednesday. HIV/AIDS ribbon via Shutterstock
AllSurplus to Conduct Online Auction of Surplus Equipment and Machinery for Leading Arms Manufacturer in U.S. - Liquidity Services (NASDAQ:LQDT) 2024-03-06 21:26:00+00:00 - Loading... Loading... BETHESDA, Md., March 06, 2024 (GLOBE NEWSWIRE) -- Liquidity Services LQDT, a leading global commerce company powering the circular economy, today announced it is partnering with RemArms, a leading firearms manufacturer, to sell equipment and materials that will result from the scheduled closure of its iconic Ilion, New York manufacturing plant, the longest-operating firearms manufacturing site in the U.S. As part of a strategic move by the company to relocate its manufacturing operations to a modern facility in LaGrange, Georgia, more than 600 arms manufacturing assets are currently available through a series of auctions on AllSurplus.com, the leading online marketplace for surplus business assets. "As RemArms' strategic partner, we are confident the upcoming auctions will produce strong sales results by delivering interest from both domestic and international buyers," said Chris Register, vice president of corporate sales for AllSurplus. "This is a great opportunity for buyers to purchase highly sought-after machine tools and plant support equipment." The online auctions contain a mix of high-value equipment including a turn-key Metal Injected Molded and Pressed Metal operation, OKK horizontal machining centers, and an Unisig drilling machine. Liquidity Services is excited to partner with RemArms to unleash the value of their surplus assets while executing a zero-waste solution. To place a bid, buyers must create an account by completing the free registration form at AllSurplus.com. About AllSurplus AllSurplus is the world's leading online marketplace for surplus business assets, ranging from heavy equipment to transportation and industrial machinery. AllSurplus is the smartest, fastest way to sell inventory and equipment as sellers can directly launch and manage their listings in just days with more control and lower fees than traditional auction solutions. AllSurplus is powered by one of the most experienced and trusted companies in the surplus industry: Liquidity Services LQDT, which has supported millions of customers across the globe. AllSurplus buyers have direct access to all the surplus assets across Liquidity Services' network of marketplaces in one centralized location. Contact: Robert Lupardo Inside Sales Representative, CAG Operations (201) 957-5586 robert.lupardo@liquidityservices.com