Market Watch

Source: Shutterstock CGI Inc. ( TSE:GIB.A ) saw a double-digit share price rise of over 10% in the past couple of months on the TSX. As a large-cap stock with high coverage by analysts, you could assume any recent changes in the company’s outlook is already priced into the stock. However, could the stock still be trading at a relatively cheap price? Let’s examine CGI’s valuation and outlook in more detail to determine if there’s still a bargain opportunity. What Is CGI Worth? CGI appears to be overvalued by 32% at the moment, based on my discounted cash flow valuation. The stock is currently priced at CA$122 on the market compared to my intrinsic value of CA$92.55. Not the best news for investors looking to buy! Another thing to keep in mind is that CGI’s share price is quite stable relative to the market, as indicated by its low beta. This means that if you believe the current share price should move towards its intrinsic value over time, a low beta could suggest it is not likely to reach that level anytime soon, and once it’s there, it may be hard to fall back down into an attractive buying […]

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Notice of funding Opportunity – genx United States Department of State U.S. Embassy Kampala, Small Grants Office Notice of Funding Opportunity Funding Opportunity Title: Ambassador’s Special Self-Help Program 2023 Funding Opportunity Number: Deadline for Applications : March 31, 2023 Assistance Listing Number: 19.220 Total Amount Available: $50,000 PROJECT DESCRIPTION The U.S. Embassy Kampala Small Grants Office announces an open competition for registered organizations interested in submitting applications for the Ambassador’s Special Self-Help (SSH) Program, which supports small-scale, community-based initiatives that promote self-reliance, foster development, and promise an immediate and dramatic effect on local communities. Projects should also include significant community contributions in cash, labor, or materials. The SSH philosophy is to help communities to help themselves. For the SSH Program in 2023, U.S. Embassy Kampala will prioritize projects that focus on the greatest number of people within a community and in which communities contribute to the project either via funds or labor. All applications will be accepted, but priority will be given to those applications that meet the aforementioned focus areas. Download: Detailed NOFO: Ambassador’s Special Self-Help Program 2023 Download: Budget Template: SSH 2023 BUDGET Annex – log frame and projected Download: Application Form: SSH2023-APPLICATION-FORM-Concept-Note FEDERAL AWARD INFORMATION U.S. […]

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Goal of CHEO is to Expand Equitable Access to Housing NEW LONDON, CT – A new Center for Housing Equity & Opportunity (CHEO) in Eastern CT will officially launch on March 16, 2023, to facilitate a coordinated, regional response to address housing affordability in Eastern Connecticut including throughout New London, Windham, and part of Tolland Counties. Modeled after similar efforts in other parts of the state, the new Center will work collaboratively with housing practitioners, residents, municipalities, and policymakers throughout the region to develop a regional housing affordability strategy, and to align, grow, and deliver critical resources including dedicated staff, regional data capacity, and technical assistance to support the preservation, production, and protection of housing affordability regionwide. The CHEO will be a strategic partnership between seven nonprofits brought together by the Community Foundation of Eastern Connecticut. Other founding partners in the Center include Connecticut College, Eastern Connecticut State University, The Housing Collective, Partnership for Strong Communities, Regional Plan Association, and United Way of Southeastern Connecticut. Maryam Elahi is President and CEO of the Community Foundation of Eastern Connecticut. “Simply put, we are stronger together,” says the Community Foundation of Eastern Connecticut’s President and CEO Maryam Elahi, “and together, we […]

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Photo credit: SF Beer Week A limited-edition collaboration beer put out by the Bay Area Brewers Guild will be this year’s official SF Beer Week collaboration release, kick-starting fundraising to help improve diversity, equity and inclusion in the craft beer industry. Proceeds from the beer’s release, along with other contributions, will be used to establish a dedicated Guild Scholarship Endowment to be facilitated by University of California, Davis Continuing and Professional Education for the purpose of providing access to brewing education courses and brewing certificate programs. Wheat – The Maltster Perspective . As craft brewing and distilling continue to evolve, wheat has become a more highly utilized grain. Wheat is known for its ability to contribute haze, add clean sweetness and body, and offer unique flavor attributes. Check out the full story here . Created by brewers from six local craft breweries, the hazy Double IPA dubbed This Beer Creates Opportunity will be poured at all five SF Beer Week Kick Off events. The hoppy, juicy beer will also be a highlight of celebrations from February 10 to 19 at dozens of the craft beer bars, retail outlets and restaurants hosting their own SF Beer Week festivities around the […]

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Mizuho analysts said the Intuit (NASDAQ: INTU ) share price fall as a result of the negative read-through from Bill.com (NYSE: BILL ) earnings appears to be an overreaction and presents a buying opportunity. Intuit shares are down more than 2% so far on Monday. Analysts who have a Buy rating and $650 price target on Intuit, explained in a research note that "INTU shares were down 6% on Friday along with BILL (down 27%) following a disappointing FQ2 and guidance from BILL." "While we acknowledge that macro headwinds might be impacting SMBs, we view QuickBooks as mission-critical with payment representing only ~7% of revenues. At first glance, BILL’s commentary on slowing payment volume growth and net customer adds due to a weaker macro appears to have negative read-through for INTU," the analysts stated. However, they also said that based on the firm’s analysis of BILL’s weakness and INTU’s exposure, they believe the "recent sell-off in INTU shares is an overreaction from BILL read-through and presents a buying opportunity heading into INTU’s FQ2 results on Feb 23." In a separate note looking at Intuit’s fiscal second quarter, the analysts declared that the firm expects another strong quarter for the […]

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Image: Chris McVey, senior fund manager, Octopus Investments For equities, 2022 was clearly a challenging year. Economic and geopolitical concerns buffeted markets, and this uncertainty triggered a significant derating of growth equities. But, in our view, it also triggered one of the best buying opportunities for UK small- and mid-cap stocks in over a decade. The great decoupling Our focus on those quality-growth small- and mid-cap companies was a part of the market significantly impacted during the sell-off. However, we believe there remains a lot of opportunity in the UK, as well as a large number of strongly trading businesses. We retain our focus on companies which we believe can grow earnings throughout the economic cycle, and we have been largely reassured by the underlying operational performance of many of these growth companies, despite many share prices decoupling from these solid fundamentals. When market conditions normalise, many of these stocks should re-rate significantly, offering investors attractive returns over the medium term. The last time we encountered share prices deviating from earnings to this extent was during the financial crisis. That turned out to be the buying opportunity of the decade. We are currently in that same valuation territory, although […]

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Sam and Emma host Gary Orfield , professor and co-director of the Civil Rights Project at the University of California, Los Angeles, to discuss his recent book The Walls around Opportunity: The Failure of Colorblind Policy for Higher Education. Check out Gary’s book here: https://press.princeton.edu/books/hardcover/9780691227412/the-walls-around-opportunity Subscribe to the ESVN YouTube channel here: https://www.youtube.com/esvnshow Subscribe to the AMQuickie newsletter here: https://am-quickie.ghost.io/ Get all your MR merch at our store: https://shop.majorityreportradio.com/ Get the free Majority Report App!: http://majority.fm/app Check out today’s sponsors: ZBiotics: Go to https://thld.co/zbiotics_majority_0123 and get 15% off your first order of ZBiotics Pre-Alcohol Probiotic by using my code MAJORITY at checkout. ExpressVPN: We all take risks every day when we go online, whether we think about it or not. And using the internet without ExpressVPN? That’s like driving without car insurance! ExpressVPN acts as online insurance. It creates a secure, encrypted tunnel between your device and the internet so hackers can’t steal your personal data. It’d take a hacker with a supercomputer over a billion years to get past ExpressVPN’s encryption. And ExpressVPN is simple to use on all your devices! Just fire up the app and click one button to get protected. Secure your online data TODAY […]

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Source: Shutterstock In this article we are going to estimate the intrinsic value of Cleveland-Cliffs Inc. ( NYSE:CLF ) by taking the forecast future cash flows of the company and discounting them back to today’s value. One way to achieve this is by employing the Discounted Cash Flow (DCF) model. Before you think you won’t be able to understand it, just read on! It’s actually much less complex than you’d imagine. Companies can be valued in a lot of ways, so we would point out that a DCF is not perfect for every situation. Anyone interested in learning a bit more about intrinsic value should have a read of the Simply Wall St analysis model . Crunching The Numbers We are going to use a two-stage DCF model, which, as the name states, takes into account two stages of growth. The first stage is generally a higher growth period which levels off heading towards the terminal value, captured in the second ‘steady growth’ period. To start off with, we need to estimate the next ten years of cash flows. Where possible we use analyst estimates, but when these aren’t available we extrapolate the previous free cash flow (FCF) from […]

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Chipmaker Onsemi ( ON ) on Monday beat Wall Street’s targets for the fourth quarter but guided lower for the current period. ON stock initially fell on the news but then turned positive. The Phoenix-based company, also known as ON Semiconductor, earned an adjusted $1.32 a share on sales of $2.1 billion in the December quarter. Analysts polled by FactSet had expected earnings of $1.26 a share on sales of $2.08 billion. On a year-over-year basis, Onsemi earnings rose 21% while sales climbed 14%. For the current quarter, Onsemi predicted earnings of an adjusted $1.08 a share on sales of $1.92 billion. That’s based on the midpoint of its guidance. Wall Street had forecast earnings of $1.14 a share on sales of $2 billion for the first quarter. The company also announced a new $3 billion stock buyback plan. ON Stock Seesaws After Report The secular megatrends of electric vehicles, advanced driver-assistance systems, alternative energy and industrial automation drove Onsemi’s revenue growth in the fourth quarter, Chief Executive Hassane El-Khoury said in a news release . In morning trades on the stock market today , ON stock dropped as much as 4.2% before rebounding. In recent trades, it was […]

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Digital technologies are changing our daily experience of public services, much of it for the better. Over the past few decades, government departments have migrated information and forms from paper onto a screen, with numerous benefits. HM Revenue and Customs, for example, can celebrate over 20 fun-packed years of online tax returns , from just 38,000 filed in 2001 to around 11 million in 2022. Yet the original political ambitions were not simply about moving government online, but to use digital, data and technology to redesign democracy and our public institutions. As Parliament’s Public Accounts Committee commented in late 2021 , “departments have failed to understand the difference between improving what currently exists and real digital transformation, meaning that they have missed opportunities to move to modern, efficient ways of working”. The ambition This lack of understanding is a relatively recent phenomenon. During the 1990s, the UK Government planned to use technology to change relationships between citizens and the state, with implications for the structure of government and democratic processes. By 1998, the Cabinet Office’s Central IT Unit (CITU) was exploring how government could use DDaT to fundamentally re-organise. And by 2002, there was a consultation on ways “to […]

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