CLEVELAND (WJW) — Long lines Saturday morning into the afternoon, did not deter Maria Chandler from casting her ballot at the Cuyahoga County Board of Elections in Downtown Cleveland.
"It's very important to me. It's very important and it's time for a change," Chandler said. "We need positive things going on right now, but everyone needs to vote and I’m glad I came out here standing in this long line today to come vote."
BROUSSARD, La. (LPSS)- The Lafayette Parish School System has announced Allison Champagne is now the principal of Broussard Middle, taking over from Heather Olson who moved into district leadership.
Champagne has been with the school system for more than 23 years, including 17 years as a classroom teacher. She has also served in various administrative positions, including the last five years as assistant principal for L.J. Alleman Fine Arts Magnet Academy.Stepping into her new role at Broussard Middle, the school she taught at for so many years, isespecially rewarding, she said.
Moderna(NASDAQ:MRNA) is without a doubt one of the most talked about coronavirus stocks these days. The company was the first to launch its coronavirus vaccine candidate in human trials and is still a leader in the race to the finish line. As of Oct. 27, shares of the clinical stage biotech company had climbed 257% so far this year, rewarding those who got in on its growth story early.
But for the long-term investor, there may be more lucrative bets than Moderna. I'm thinking of one of my favorite coronavirus stocks, Abbott Laboratories(NYSE:ABT). Sure, Abbott is only up around 25% this year. And I don't expect the stock to post triple-digit gains in a matter of months like Moderna did. But investors who buy Abbott shares now are likely to see solid returns over time.
Let's have a look at why we should be optimistic about this company.
Image source: Getty Images.
Revenue from coronavirus tests
Most coronavirus companies aren't yet generating revenue from their coronavirus projects. That is because their products remain experimental and the U.S. Food and Drug Administration (FDA) hasn't offered them an Emergency Use Authorization (EUA) or formal approval. Moderna sits in that crowded boat.
Abbott, however, is already generating revenue from its coronavirus testing products. The FDA offered the company's first test an EUA in March, and Abbott currently has EUAs for a total of seven tests. Abbott reported $881 million in revenue from COVID-19 testing in the third quarter, which ended Sept. 30, up from $615 million in the second quarter.
We can expect COVID-19 testing revenue to continue to increase for two reasons. First, the most recent quarter ended less than a month ago -- and that was too early to truly show the potential of the rapid coronavirus test that was authorized in late August. This $5, 15-minute, portable test is meant to detect an active infection quickly and easily across populations. The company planned on shipping 50 million tests per month as of October. The FDA authorized an additional test -- an antibody blood test -- this month. That should add to revenue in the current and ensuing quarters too.
Second, as the coronavirus crisis continues, the need for testing will ramp up. After a decline in new cases in the U.S. through the month of August, cases began to rise again in September, according to the Centers for Disease Control and Prevention (CDC). More than 8.3 million cases have been recorded in the U.S. since the start of the pandemic, and over 400,000 cases were reported in the last seven days alone.
Not only a coronavirus stock
But what I really like about Abbott is that it isn't only a coronavirus stock. Moderna and other rivals such as Inovio Pharmaceuticals(NASDAQ:INO), for example, have other programs in the pipeline, but they don't yet have other products on the market. They rely on the success of their coronavirus programs, which consist of their closest-to-market products, for near-term revenue. Abbott, on the other hand, generates revenue from other diagnostic tests, medical devices, nutritional supplements, and pharmaceuticals. Its diabetes care segment alone posted a 26.9% year-over-year increase in sales to $843 million in the third quarter, led by its FreeStyle Libre continuous glucose monitoring (CGM) systems.
In spite of Abbott's coronavirus testing gains, though, the company saw revenue slip in the earlier stages of the pandemic. That's mostly because other types of diagnostic tests were postponed as labs closed or focused on coronavirus testing, and surgical procedures were put on hold due to the crisis. Now that healthcare facilities have resumed certain procedures and labs have reopened, Abbott is recovering. Actually, it's more than recovering. In the third quarter, Abbott posted a 9.6% year-over-year increase in sales to $8.9 billion. That's after an 8.2% decline in the previous quarter.
Abbott recently offered a clue that the worst impact from the crisis is in the rearview by raising its guidance for the full year. It expects earnings per share (EPS) from continuing operations of at least $3.55, which is up from the previous forecast of $3.25.
Pick stocks for a post-coronavirus world
An investor looking for a quick near-term gain is more likely to win big or lose big with a clinical-stage biotech company. As we've seen this year with Moderna, that type of stock's performance is heavily dependent on coronavirus news. I see a big question mark when it comes to these companies' share performances over time.
Abbott, however, has a COVID-19 program that's already bringing in revenue -- and plenty of other products on the market to drive revenue growth and share performance for years to come.
This weekend brings us the best of times and the worst of times, when we gain an extra hour of sleep and darkness too, thanks to the end of daylight saving time.
Thanks to our sponsors:
Computers do most of the adjusting automatically these days, but if you have any manual clocks or watches, don’t forget to dial them back an hour. The time officially reverts to standard at 2 a.m. Sunday.
The shifting back and forth between standard and daylight saving has become a subject for debate in recent years, both in the U.S. and abroad.
More than 30 states have considered legislation to maintain a single time (Arizona and Hawaii are the only states that don't observe daylight saving time, having broken ranks back in the 1960s.), and the European Union was poised to take action before more pressing issues like Brexit and the coronavirus pandemic tabled discussions.
The arguments against “springing forward” and then “falling back” tend to boil down to “What is even the point?” and complaints about how disruptive the changes are to humans’ natural circadian rhythms.
The question is, which time to make permanent: standard or daylight saving?
Arizona stuck with standard because people who live in the blistering hot state would rather have the sun set earlier, taking temperatures down with it. Hawaii took a pass on DST because it’s so flush with sunlight, “saving” it would be overkill. Meanwhile, in Chicago, where darkness descends at 4 p.m. in the depth of winter, standard time frequently triggers seasonal depression.
So where does that leave us? Another fall, another time change. Enjoy the extra hour this weekend hour, maybe use it to shop online for one of those light therapy boxes, and we’lll catch you on the flip side next March.
What's one key difference between data and traditional commodities like oil, natural gas, and gold? Unlike these natural resources, data is infinite. This is a critical thing to keep in mind as the global economy continues to go digital.
Peloton(NASDAQ:PTON), the $35 billion home-fitness disruptor, collects troves of data from its 3.1 million members, of which 1.1 million are connected fitness subscribers (they purchased a piece of Peloton equipment and pay the $39 monthly fee).
Subscription-based businesses, adored by investors because of their recurring revenue streams, rely on maintaining a relationship with their users. What they do with all the data they amass ultimately determines their long-term success. Peloton is no different.
Image source: Getty Images.
A virtuous cycle
In the quarter ended June 30, connected fitness subscribers averaged 24.7 workouts per month, more than double the monthly average in the same period last year. This higher engagement provides Peloton with valuable information about its members' exercise habits.
During Peloton's first Investor and Analyst Day as a public company, President and Director William Lynch emphasized just how important this is: "In addition to our growing list of fitness disciplines, we're sitting on a mountain of member data on what they prefer. This is a strategic advantage for Peloton. We can use this data and do use this data to inform our programming."
Peloton's data strategy draws parallels to how Netflix operates. Member data is analyzed and applied to content development with the goal of constantly improving the service offering and user experience. This has led to Peloton creating a vast workout library, from cardio and strength training to yoga and meditation. As the company expands into non-English-speaking countries, it plans to produce classes in local languages as well.
Just like the streaming video giant, Peloton's competitive moat will widen over time as its users form habits around its products and services. Once set in motion, this virtuous cycle is hard for rivals to compete with.
Potential opportunity
Peloton's growing library of consumer data has the potential to generate other sources of revenue. Sounding optimistic in response to an analyst's question on the most recent earnings call, Co-founder and CEO John Foley said, "You're absolutely right about the opportunity we see with corporates and insurers ... We think that this is a massive opportunity and potentially a very big growth vector for us in the coming years."
He's referring to health insurance providers using Peloton's user data to offer discounts to its policyholders. In other words, if I'm a connected fitness subscriber and I work out on my Peloton Bike or Tread a given number of times per month, the premium on my health insurance plan will be discounted. I'd assume a sizable chunk of members would choose to share their data if it meant lower insurance bills resulting from concerted efforts to improve health.
Although Peloton may not do something like this for a long time, it does bring up another issue -- data privacy. The company's main focus right now is to protect consumer data.
"I'm sure in the coming quarters we'll have something to talk about," Foley added when discussing this possible revenue opportunity.
The future is data
Peloton's stock is up over 300% this year, as company prospects get a boost from people's hesitation to go back to gyms. Investors seem to very much approve of the company's ability to utilize data to drive the continuous enhancement of the user experience. Owning this relationship by delighting customers is a competitive advantage, and Peloton stands to benefit for the foreseeable future.
CHARLESTON, W.Va. – The West Virginia State Fire Marshal’s Office reminds everyone to turn their clocks back one hour, and to also change the batteries in their smoke and carbon monoxide detectors and other home safety items.
Daylight Saving Time ends in the U.S. at 2 a.m. Sunday, Nov. 1.
According to the National Fire Protection Association71% of smoke alarms that failed to operate had missing, disconnected or dead batteries.
The NFPA provides the following guidelines for smoke alarms:
Test smoke alarms at least once a month using the test button.
Make sure everyone in the home understands the sound of the smoke alarm and knows how to respond.
Replace all smoke alarms when they are 10 years old.
Replace the smoke alarm immediately if it doesn’t respond properly when tested.
Smoke alarms with nonreplaceable (long-life) batteries are designed to remain effective for up to 10 years. If that type of alarm chirps, a warning that the battery is low, replace the entire smoke alarm right away.
For smoke alarms with any other type of battery, replace batteries at least once a year. If the alarm chirps, replace only the battery.
In addition to changing batteries, now is a good time to make sure to create or update a fire safety plan, the fire marshal recommends. Every family should have a fire safety plan, ensuring that every family member is prepared if an emergency occurs.
Those without working smoke alarms can contact the American Red Cross at (844) 216-8286 to schedule an appointment for a free installation.
SCOTCH PLAINS, NJ -- Yvonne Agyapong had a week she will never forget.
It started last Saturday when the junior at Union Catholic placed first in Original Oratory for the Forensic Team at the first Newark Catholic Forensics League Tournament of the season.
Then this past Wednesday night, Agyapong was inducted into the National Honor Society.
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Agyapong said she’s still stunned by what she accomplished.
“Induction into the NHS and a win at the NCFL tournament so closely together gives me much to appreciate and take in,’’ said Agyapong. “I’m still in shock! But I think the two events give me a lot to be grateful for when I think I have nothing to be grateful for. Being inducted into the NHS is an honor than I’m so lucky to take part in, especially continuing on from having been in the NJHS in middle school.’’
Agyapong chose a topic for her speech at the Forensics Tournament that’s very close to her heart.
“The topic was the systemic burdens and societal neglect of African-American women in the United States, and the mistreatment they face in spite of constantly being put in a position to serve others due to intersectionality,’’ said Agyapong,’’ who lives in Woodbridge. “This topic is near and dear to my heart as not only a Ghanaian-American young woman, but also for the fact that I have so many inspiring women in my life who have worked so hard but repeatedly encounter limitations due to factors they cannot control.’’
Finishing first at the Forensics Tournament meant a lot to Agaypong.
“It means so much to place first because so much work and collaboration had been put into perfecting my speech,’’ said Agyapong. “What I always tell people I love most is the adrenaline rush of being in the competition rooms and not knowing whether a judge will rank you among competitors. I also love seeing at every tournament that people my age are just as passionate as I am about modern issues.’’
What are Agyapong’s goals for the rest of the season?
“In all honesty, I personally hope that I would be able to get my message out there since this issue is not frequently discussed. I would also hope to rank highly at every competition, as well as my teammates being able to do the same in the numerous categories they compete in,’’ said Agyapong, whose recent achievements have added to a remarkable resume that she has built here at Union Catholic.
Agyapong was ranked No.1 in her class as a freshman and sophomore, and has made the Honor Roll in every marking period. As a freshman, she received the Union Catholic Mathematics League Geometry Award, and the National Language Arts League Award. She is one of the most active students at Union Catholic. She also is a Student Ambassador, the Vice President of the Junior Class, President of the Multicultural Club, and is a member of Students For Human Dignity, the Student Advisory Board, the African-American Appreciation Club, the Connection Crew, and the Environmental Club.
Agyapong is also a very talented writer. She finished as the runner-up in the 2019 Newark Archdiocesan St. Patrick's Day Parade Essay Contest.
How does she balance her school work and all her extracurricular activities?
“It’s surely a task to balance everything at once and I really have to cram extracurricular activities where I can,'' she said. "Being busy is the responsibility I accept as someone who has to make it in the world one day, someone who will one day change it drastically. And that begins with me being busy all the time at sixteen years old.’’
What does Agyapong love the most about being a student at Union Catholic?
“What I love most about UC, and what drew me to the school in the first place, was that you can meet people from everywhere,’’ she said. “Our school has a diversity that not many other private schools can boast.’’
How did Agyapong know UC was the right place for her?
“UC became the place for me after visiting here several times during middle school, especially at Forensics competitions,’’ said Agyapong. “I think the students radiated a sense of community and spirit that made me want to be a part of it. Also, the aforementioned diversity.’’
What kind of advice would Agyapong give to younger students who are considering attending UC?
“My advice to younger students is work to the best of your abilities, but do not push yourself over the edge,’’ said Agyapong. “And be kind to the other freshmen because they are just as nervous and new as you are. You won’t be able to find another school that sets you up for the real world in the way that UC does, in terms of curriculum, students, staff, available opportunities and more. I have most benefited from the help and comfort of the friends I have made at Union Catholic, as well as the personal guidance I’ve received from teachers over the years outside of the realm of academics.’’
What are Agyapong’s goals for the future?
“I am currently at a crossroads, but I am considering becoming an international human rights lawyer, criminal justice lawyer, or a cardiothoracic surgeon,’’ said Agyapong. “I would like to major in psychology or biology.’’
October 31, 2020 at 09:08PM
https://www.tapinto.net/towns/scotch-plains-slash-fanwood/sections/education/articles/union-catholic-s-yvonne-agyapong-had-a-week-she-will-never-forget
Union Catholic's Yvonne Agyapong Had a Week She Will Never Forget - TAPinto.net
Many jottings in the Vikings universe now focus on “reasons to get excited” about the
remainder of the 2020 season. Minnesota has just one win this season, so attention spans no
longer focus solely on winning.
Why?
Because it would take a gargantuan winning streak, and would essentially bankrupt the gamble Colorado website industry, forMinnesota to merely get close to a low-tier playoff position. This Vikings bunch got smoked bythe Colts and Falcons in performances that undeniably proved that they belong nowhere nearplayoff football.
Ergo, fans are left to study the progression of young players, speculate [often absurd] trade
scenarios, and determine the long-term outlooks on the coaches and general manager.
Twitter is a wonderful spot for the latter two subjects – “trade this guy” scenarios for every
rostered player can be plucked from the social media app. What’s more, the “Fire Spielman
and Zimmer” noise is deafening in some rabbit holes.
Universally, though, the ascension to stardom by Justin Jefferson is heralded. Jefferson is
what brings VikingsVille together. Through two weeks of the season, the 21-year-old was
oddly uninvolved in the Vikings offense. It appeared that the LSU alumnus was a
run-of-the-mill rookie that might chip in 400-or-so yards during his first campaign. Beginning in
Week 3 versus the Titans, Jefferson changed the narrative. He spanked the Titans secondary
amid a breakout game, although the Vikings fell in a close game to Tennessee.
From that moment, Jefferson has towed the company line for prolific Vikings offensive
rookies, chiefly Randy Moss, Adrian Peterson, and Percy Harvin. The young wideout has the
flair and substance to belong in conversations with those men, even if the Vikings 2020
season has begun molding.
The utopian vision is that Jefferson can snag an Offensive Rookie of the Year award. He can,
indeed, do just that, and here’s how.
The Odell Beckham Path
The last wide receiver to take home Offensive Rookie of the Year honors was Odell Beckham
– in 2014. He captivated the league in his first season while topping Teddy Bridgewater and
Mike Evans for the OROY award. In 12 games, Beckham accrued 1305 receiving yards and
12 touchdowns. He was the first member of the New York Giants to win the OROY accolades.
If Justin Jefferson remains healthy, he is on pace to tabulate 1,432 receiving yards. This
would exceed Beckham’s raw total, although the now-Cleveland Browns receiver racked up
more yardage per game. Beckham’s touchdown pace was stratospheric; Jefferson could
close the gap if he remains a frequent target of the oft-scrutinized Kirk Cousins in the team’s
10 remaining games.
All in all, though, Jefferson is on a Beckham-esque path. Hell, both men attended LSU and
“During the weekend of October 31 through November 1, Metrorail will operate from 7:00 a.m. until 11:00 p.m. on Saturday and 8:00 a.m. until 11:00 p.m. on Sunday, serving 90 of 91 stations. Trains will run normal frequencies on the Green and Yellow lines, with service adjustments on the Blue, Orange, Silver and Red lines due to scheduled maintenance.
As a reminder, Daylight Savings Time ends on Sunday, November 1, 2020 at 2 a.m. and clocks will roll back by one hour.“
For your safety and the safety of others, customers are required to wear cloth face coverings or masks while traveling on Metro.
Red Line
Trains operate every 12-15 minutes.
Due to switch replacement, buses replace trains between Rhode Island Ave and Takoma.
Brookland and Fort Totten (upper level platform) stations closed.
Consider using the Green or Yellow lines as an alternate for travel to/from Downtown DC.
Blue Line
Trains every 24 minutes.
Due to grout pad replacement and radio cable installation, trains will single track between Foggy Bottom and Arlington Cemetery.
Orange Line
Trains operate every 24 minutes.
Due to grout pad replacement and radio cable installation, trains will single track between Foggy Bottom and Clarendon.
Silver Line
Trains operate every 24 minutes.
Due to switch replacement, trains will operate between Wiehle-Reston East and Ballston only.
Transfer to Orange Line to continue trip.
Yellow Line
Trains operate every 15-20 minutes.
Due to fire system upgrades, trains will single track between U Street and Georgia Ave-Petworth after 10 p.m.
Green Line
Trains operate every 15-20 minutes.
Due to fire system upgrades, trains will single track between U Street and Georgia Ave-Petworth stations after 10 p.m.”
I think you are missing a growing force in Monterey County Supervisor campaign financing: the cannabis industry — cultivators, manufacturers, retailers and especially the owners/lessors of cannabis-zoned real estate.
The ag industry is mostly benign when it comes to getting supervisors to override decisions of professionals in Resource Management Agency and the Planning Commission. The ag industry is established and need for re-zoning and licensing is rare.
That is not the case in the cannabis industry, with a mere 4 years of history. There is a high demand for zoning overrides, and even a higher demand for oversight of permitting by the Monterey County Cannabis Program.
While contributions by the cannabis industry is currently smaller than the Ag industry or developers and building trade unions, their “meddling” in government affairs is far greater.
Here is an example of what I mean. It is only the beginning.
In terms of the District 4 Supervisor race, the cannabis industry overwhelming is contributing to Steve McShane’s campaign.
Here are the names I have culled from Form 460 filing this and my sleuthing to identify their cannabis affiliations:
Nader Agha — Owner of former Kaiser Refactories building complex at Moss Landing, now dubbed by the industry “Cannabis Row.”
Mike Bitar, president of Grupo Flor — Largest owner/manager of cannabis properties in Monterey County, and for that matter all of California.
Kasra Ajir, CFO of Grupo Flor — Misidentified affiliation as real estate agent, self employed on Form 460
BAK Festival — Event corporation created by Grupo Flor
JRG Attorneys — Cannabis attorney in Monterey County
Paul Moncreif — Attorney who represents cannabis companies
This year hardly needs the ghosts and ghouls of Halloween to make it scary for investors.
They endured the fastest bear-market on record, a similarly spectacular rebound, and are now limping to the end of October with stocks swinging wildly again. Thank the resurgent virus, a slowing economic recovery and the U.S. presidential election for that.
Still on edge as the calendar gets set to flip into the final two months, Wall Street is spooked the most by these charts:
Steve Chiavarone, portfolio manager and equity strategist at Federated Hermes
With mail-in balloting potentially hitting upwards of 40-50% of the vote in 2020, given historical patterns, we could see over 1 million ballots rejected in the upcoming election, essentially 3x the number rejected four years ago. This could be the deciding factor in key battleground states. The risk here is that we get a contested election that drags into December and is ultimately decided by courts. In the meantime, the market would have to deal with a greater deal of political and economic uncertainty, while fiscal-stimulus negotiations get pushed to the back burner until the new government is seated in late January.
Jason Thomas, the head of global research at Carlyle Group
Corporate debt in the U.S. entered 2020 at all-time highs relative to GDP. When accounting for the incremental debt issued in 2020 and netting out restructurings, that ratio seems likely to increase by another 15% this year. Effective debt-service ratios remain at levels comparable to 2001 – and above those of 2009 – when default rates on senior loans hit 8%. Rather than a sharp peak and swift subsequent decline, default rates could remain at elevated levels for an extended period, with defaults that would have otherwise occurred in 2020 simply pushed into the future.
Evan Brown, head of multi-asset strategy at UBS Asset Management
The rolling 63-day correlation between gold and the S&P 500 Index has been positive for the overwhelming majority of 2020. This means gold may no longer be a reliable ballast to portfolios during risk-off periods spurred by concerns about threats to economic activity. We attribute this dynamic to the strong correlation between gold and real rates in concert with the current stance and outlook for monetary policy.
Ben Emons, managing director of macro strategy at Medley Global Advisors
The Covid-19 crisis caused vaccine companies to trade at a historic premium to the S&P, as well as Nasdaq and stay-at-home or reopening sectors. The risk is that a vaccine fails and distribution is hampered by geopolitical tension. The vaccine companies will sell off, and even though their market weight in major indices is lower than technology or major industrials, the performance of vaccine stocks is to be watched in 2021 for their effect on major global-equity indices.
Gina Martin Adams, chief equity strategist for Bloomberg Intelligence
I’d go with policy/tax reform as Wall Street’s biggest fear for 2021, right now, though it is somewhat dependent on the election. The other items I’d consider are the outlook for the dollar, particularly given the federal budget deficit and the concentration of gains in tech, and fears of a repeat of the tech bubble.
Peter Tchir, head of macro strategy at Academy Securities
U.S. real yields are the most negative they’ve been in the past two decades. Some might argue that dollar weakness is good and would be a competitive advantage, but structural dollar weakness concerns me, especially when we expect to have record amounts of Treasuries to issue. German real yields are now “competitive” with ours. Since the European debt crisis, our nominal yields have looked attractive to Europe, but so did our real yields. Will that real-yield differential turn out to be an important source of buying of Treasuries? This chart “scares” me because I don’t have a good idea of what it really means and what the repercussions might be, while not many people are discussing that.
Marlena Lee, head of investment solutions and former co-head of research at Dimensional Fund Advisors
In March, spooked investors fled the stock and bond markets, with money-market inflows for the month totaling $684 billion. This was frightfully bad timing. Over the six-month period from April 1 to September 30, global equities and fixed income returned 29.54% and 3.16%, respectively. Scary to think about the impact that will have on the financial well-being of many savers.
Vincent Deluard, director of global macro strategy at StoneX Group Inc.
U.S. pension funds assume that they will earn 7.25% on their portfolios by mixing assets which yield less than 3% on average. Even if pension funds were to invest solely in the highest-yielding asset (junk bonds), they would still miss their target by about 200 basis points, while taking an amount of risk which would violate their fiduciary duties. Something has got to give: Either asset prices will fall massively to restore normal expected returns (which would trigger an immediate solvency crisis for most pension funds) or pension funds “will die from a thousand cuts” due to an absence of profitable reinvestment opportunities. Either way, most pension plans will fail to deliver their contractual obligations.
Liz Ann Sonders, Charles Schwab Corp.’s chief investment strategist
Although payroll gains since the April low reflect the re-hiring of temporarily unemployed Americans, the persistent increase in permanent job losses and the surge in the duration of unemployment are both testament to the deleterious longer-term impact of the virus on the economy.
Benn Eifert, chief investment officer of hedge fund QVR Advisors
I used to be an emerging-markets economist in the old, old days. The biggest differences are that in DM, we take rule of law and lack of social/political violence for granted. The last four years we have seen extreme polarization and encouragement of and normalization of political violence in the U.S., and it’s kind of terrifying where that could go if unchecked.
Lauren Goodwin, economist and multi-asset portfolio strategist at New York Life Investments
The prime age labor-force participation has plummeted since the Covid crisis began, erasing the progress seen in the last expansion. After an initial rebound, participation has turned lower once again, suggesting that U.S. policy support measures have not anchored people to their places of employment. The resulting labor-market friction is likely to create a drag on the economic recovery, exacerbating income inequality and creating long-term ramifications for economic growth and financial stability.
Chris Murphy, Susquehanna International Group’s co-head of derivatives strategy
The VIX closed above $40 for the first time in more than 90 days. This has happened 10 times since 1990, and the S&P 500 is down another 1.1% on average two weeks later. Even scarier? The Russell 2000 is down an average 4.7% two weeks later.
Katie Koch, co-head of fundamental equity at Goldman Sachs Asset Management
Based on current projections, the global production of plastics is set to more than triple by 2050, having already doubled over the past decade. By contrast, 75% of all the aluminum ever produced in the history of mankind is still in use today, with a global recycling rate for aluminum beverage cans standing at 69%. While much still remains to be done to ensure we arrive at a more environmentally sustainable-growth model – with advancements in biodegradable and more easily recycled plastics forming a key part of that transition – the reality is for now, “the can is king.”
But for all its faults—late ballots, defective ballots, missing ballots—the mail-in voting system is far more secure than any electronic ballot system could be, saysEngin Kirda, professor of computer science at Northeastern and executive director of theCybersecurity and Privacy Institute.
Photo by Ruby Wallau/Northeastern University
Using pen and paper—whether for in-person or mail-in voting—is the most secure way to cast a ballot, he says. That’s true even if there’s the potential for paper ballots to be destroyed, which happened in Boston last week when aman set fire to a ballot box.
“Any physical attack like this on the voting system, it’s hard to scale up,” Kirda says. “It’s immediately detectable.” There were 120 ballots in the box at the time, and the fire department was notified soon after the fire started.
“With a cyberattack, it’s sometimes impossible to know who is responsible,” Kirda continues. “We can trace an IP address, but attackers are smart enough to know not to use their own IP address.”
Many people, including President Donald Trump, haveexpressed concern about potential voter fraudin the upcoming election because of an increase in mail-in ballots, which some people fear are easy to fake.
But Kirda says it’s unlikely that individual voters would perpetrate large-scale fraud through the mail-in system.
“It’s like fraudulent checks. I can write a fake check, I can cash it, and I can make some money. But the stakes are so high if I get caught. It’s not worth it,” he says. “We probably won’t see large-scale voter fraud for the same reason we don’t really see large-scale check fraud.”
Another reason Kirda favors pen-and-paper voting is because the information in electronic voting systems could be vulnerable to foreign attacks, much like the database of voter registration informationobtained by Russian and Iranian attackersearlier this month.
Democratic voters in Alaska, Florida, and Arizonareceived threatening emailsfrom the attackers telling them to vote for President Trump. Iran also distributed a video claiming that people could cast fraudulent votes in this election.
While neither of these are examples of outright fraud, sowing doubt among voters about the credibility of the election results could be almost as destructive to the system, Kirda says.
“I’m more concerned about voters targeted with misinformation,” he says. “It’s relatively easy to do since the system is connected to the internet. Anything that’s connected to the internet is vulnerable, and you can launch an attack from anywhere.”
For example, on election day, if the results aren’t overwhelming for one candidate, a misinformation attack could convince the public that one candidate lied or cheated, Kirda explains.
“The country becomes divided,” he says. “These misinformation campaigns create trouble. They could weaken the country at a time of uncertainty.”
For media inquiries, please contact Jessica Hair at j.hair@northeastern.edu or 617-373-5718.
October 31, 2020 at 06:03AM
https://news.northeastern.edu/2020/10/30/forget-voter-fraud-misinformation-attacks-are-the-biggest-threat-to-the-2020-election/
Fastly(NYSE:FSLY) has been generating impressive revenue growth over the last several quarters. And with its innovative solutions, the company remains positioned to profit from the expanding content delivery network (CDN) and edge computing markets it addresses. What's more, the stock is trading at a more than 40% discount compared with its October all-time highs. Yet Fastly's rival Akamai Technologies(NASDAQ:AKAM) represents a better investment opportunity despite its lower top-line growth.
Attractive CDN and edge computing markets
Both CDN specialists Fastly and Akamai make the internet faster. With their worldwide computing infrastructure, they host and deliver internet content closer to users to improve user experience.
That business is poised to thrive. Given the secular increase in internet traffic, research company Mordor Intelligence estimates the CDN market will grow at a compound annual compound rate (CAGR) of 27.2% by 2025 to $49.6 billion.
In addition, Fastly and Akamai propose extra services that leverage their computing capabilities. For instance, customers can develop dynamic content at the edge of their networks for personalized features such as user authentication and content recommendation. Also, their infrastructure between internet users and the content they host allows them to offer cybersecurity services and block hostile web traffic.
As an illustration of Fastly's and Akamai's expanding businesses, Fastly estimates these extra edge computing and cybersecurity capabilities will add $17.9 billion to its total addressable market (TAM), which should reach $35.4 billion by 2022.
Image source: Getty Images.
Fastly's strong growth
Fastly seems to profit from its growing markets. During Q3, revenue increased 42% year over year to $71 million despite reduced traffic from its year-to-date largest customer, ByteDance's TikTok, because of political uncertainties. And management forecast Q4 revenue to grow by 26% year over year (YoY), excluding acquisitions.
In addition, Fastly just launched its edge computing solution Compute@Edge into production (with limited availability), which should unlock some extra revenue growth going forward. Also, it is ramping up its cybersecurity offerings by integrating the cybersecurity specialist Signal Sciences, which it recently acquired. The move should trigger cross-selling opportunities with its existing CDN solutions.
However, given its reduced scale, Fastly has yet to become profitable. Q3 losses reached $23.8 million compared with $12.2 million in the prior-year quarter, as the company prioritized growth to scale and capture the opportunities its expanding markets offer.
As a result, Fastly stock is trading at a high price-to-sales ratio of 27.9, which suggests the market expects solid execution over the long term with spectacular revenue growth and improving margins -- a risky proposition.
Akamai's large scale
Fastly and Akamai compete in the same CDN, edge computing, and cybersecurity markets. However, they operate on a different scale.
Akamai was founded 13 years before Fastly, in 1998, which gave it more time to expand its network across more than 4,100 points of presence. In comparison, Fastly listed 68 points of presence at the end of last year.
Akamai's vast network allows faster access to content that is hosted closer to users, but it also comes with challenges. For example, Fastly's smaller infrastructure allows quicker updates of content across its whole network.
Yet Akamai proposes competitive offerings. For instance, the research outfit Gartner ranked Akamai's web application firewall (WAF) -- an important cybersecurity feature to protect websites -- as a leader based on its ability to execute and completeness of vision, far ahead of Signal Sciences' solution.
From the financial perspective, Akamai's scale represents a drag to its top-line growth compared with Fastly. During the third quarter, revenue grew 12% YoY to $793 million. And management expects revenue to grow by 6% during the fourth quarter, based on the midpoint of the guidance range.
On the bright side, Akamai's scale involves reduced costs and better profitability, though. In contrast with Fastly's losses, Akamai's operating margin reached 23% during Q3, up from 20% one year ago. That huge difference in profitability between both CDN players is due to Akamai's lower sales and marketing and research and development expenses as a percentage of revenue thanks to its larger revenue base.
In any case, Akamai's price-to-sales ratio of 5.1 pales in comparison to Fastly's 27.9. Granted, Fastly's superior revenue growth commands a higher revenue-based valuation multiple. But such a valuation gap doesn't reflect Akamai's high margins. In addition, Akamai's price-to-earnings (P/E) ratio of 28.6 seems reasonable in the context of double-digit annual revenue growth.
Thus, given these elements, Akamai represents a better bet than Fastly for investors looking for a growth stock exposed to the attractive CDN, edge computing, and cybersecurity markets.
John, copywriter, Gloucestershire While the kids enjoy exchanging Haribo with the neighbours once a year, trick or treat has never been a big event for us as a family. This year, we’re taking inspiration from the Pixar film Coco, which both my children love, and attempting our own version of the Mexican festival Día de Muertos (Day of the Dead). The idea of celebrating the lives of lost loved ones really appeals to me as I don’t think we’re great at dealing with death in British culture. My dad died last year, so we’ll be thinking of him, but we’ve also got lots of photos and items for our ofrenda (a sort of family altar), including my wife’s grandfather’s teddy bear, my uncle’s classy pink slip-on shoes, and various other keepsakes. We plan to tell some stories, eat some of their favourite foods, and basically have a party.
Make it work indoors
Sarah Manley, London As an American, Halloween was a big part of my childhood, so I like to go way over the top, whether I am celebrating at home or with others. We are going to decorate the whole house outrageously, carve a bunch of pumpkins and throw ourselves a spooky, candlelit costume dinner party. Instead of them going trick or treating, my husband will send the kids on a twisty indoor treasure hunt to find a hidden candy stash. After the kids are in bed we will have a festive Halloween cocktail (the “eyeball highball” is a fave), and spook each other out with a Halloween-themed Scrabble game. Boo!
Ali Pearce-Smith, Rutland Our kids love trick or treating; I think it’s a combination of the walking around in the dark and the sugar rush. Sadly, this year they won’t be going out because we don’t want the trick to be a super-spreader event in the community. Instead, we are treating ourselves to an Addams Family freaky feast, which my partner and I will be hosting as Gomez and Morticia Adams. After the food, we plan to play games and we might even have time to take them round a local graveyard late at night.
Create socially distanced scares
Katie Snape, doctor, Streatham, London We’ve got a group of 22 children together from 11 households and we plan for each family group to do a socially distanced treasure hunt. Our neighbours have kindly agreed to host pictures in their windows and the children will move clockwise around the street ticking off the different pictures on a chart as they go. Once they have found all 20 pictures they can collect a goodie bag from their own home. This way we can have a fun treasure hunt, waving and smiling at each other while staying socially distanced and, most importantly, everyone will get to eat a ton of sweets at the end!
Get cutting and make some Halloween origami decorations. Photograph: James Thew/Alamy Stock Photo
Do some eerie origami
Dr Lizzy Burns, creative specialist, Oxford Obviously, we won’t be going out for trick or treat. Instead, I am running an online Halloween origami session in collaboration with our local library in Oxfordshire. I have been learning to fold bats, cats, witches and created my own pumpkins out of paper.
Hold a costume competition
Michelle, banker, Dublin, Ireland We are in total lockdown in an old cul-de-sac in Dublin and the residents have agreed that there will be no trick or treating this year. However, we are doing a costumed parade on the evening itself, and I can’t wait to be spooked by the sight of the little ones in their scary costumes. We are also going to town on outdoor decorations and our front garden will be a dimly lit graveyard, complete with haunting tunes and a dry-ice machine.
Freak yourself out: Halloween is the perfect time to catch up on horror classics such as The Exorcist. Photograph: Allstar Picture Library Ltd/Alamy
Host a scary movie marathon
Zia, barrister, Cape Town, South Africa We will be doing a scary movie marathon in the lounge with some frighteningly delicious homemade snacks. I am still busy finalising the screening shortlist, but The Exorcist will probably nab the hallowed 8pm spot. None of my housemates have seen it and I can’t imagine a better time to show it to them. My girlfriend hates horror, so to coax her into joining I am appealing to her appetite: burnt broccoli salad with marinated red peppers and fried pretzels, crispy tofu sliders with radish slaw and mango with sticky rice for dessert.
Get spooked on Zoom
Cassandra, patent lawyer, France My son’s class will have a Zoom meeting during which the households will turn out the lights and light candles or jack o’lanterns and we will tell each other spooky stories; I have threatened to read the three witches scene from Macbeth. Everything else has moved online this year, so why not Halloween?
Sweet success: a little imagination can help children still enjoy the celebration. Photograph: AMD Images/Alamy
Go pumpkin spotting
Amy, writer, London I’ll be taking my little people on a walk of the neighbourhood, them holding buckets and me with a pocketful of sweets. Every time we see a lit pumpkin in a window or garden, they will shout “Hello pumpkin!” and I will drop a sweet into their bucket. The day before Halloween, I will also get them to plant pumpkin seeds in the garden for the Pumpkin King and in the morning they’ll wake to find lollies stuck in the ground, as if they have grown from the seeds.
Ditch the zombies
Martha Willette Lewis, artist/radio presenter, Connecticut, US I will be running a crafting workshop on Zoom as a part of an exhibition I curated about the women’s right to vote. The workshop will focus on making quick and easy Ruth Bader Ginsburg costumes out of ordinary household materials. Frankly, we’ve got too many zombies and vampires in the US at the moment and I think it would be great to see young boys and girls dressed like RBG for Halloween. I will have some candy ready if treaters show, but I will keep a distance and wear gloves and a mask. Who knows, I may even use my gavel as an extension pole to hand out the treats safely.
(Bloomberg)
