Chek the Channels
Companies by Sector
Meet 125 Mgmt Teams
ChannelCASTS
Company
Title
Townsquare Media Inc. Class A
2019 Radio Show: Bill Wilson Opening
Enochian Biosciences Inc.
Introduction
Aurania Resources Ltd.
NobleConXV
QuoteMedia Inc.
NobleCon XV
Tribune Publishing Company
NobleConXV
Townsquare Media Inc. Class A
NobleConXV
The KEYW Holding Corporation
NobleConXV
Actinium Pharmaceuticals Inc. (Delaware)
Actinium Pharmaceuticals at NobleConXV
Salem Media Group Inc.
NobleConXV
Information Services Group Inc.
NobleConXV
Salem Media Group Inc.
Salem Media Group at NobleCon
IEC Electronics Corp.
IEC Electronics at NobleConXV
Genco Shipping & Trading Limited New (Marshall Islands)
Genco Shipping & Trading Limited at NobleConXV
Torchlight Energy Resources Inc.
Torchlight Energy Resources, Inc. at NobleConXV
Endeavour Silver Corporation (Canada)
Endeavour Silver Corporation at NobleConXV
Eagle Bulk Shipping Inc.
Eagle Bulk Shipping at NobleConXV
Sierra Metals Inc.
Sierra Metals Inc. at NobleConXV
Altimmune Inc.
Altimmune Inc at NobleConXV
Arcadia Biosciences Inc.
Arcadia Biosciences Inc at NobleConXV
Brainstorm Cell Therapeutics Inc.
BrainStorm Cell Therapeutics at NobleConXV
Genie Energy Ltd. Class B Stock
NobleConXV
Dyadic International Inc.
Dyadic International at NobleConXV
Great Lakes Dredge & Dock Corporation
Great Lakes Dredge & Dock Corporation at NobleConXV
One Stop Systems Inc.
NobleConXV
Great Panther Mining Limited (Canada)
Great Panther Silver at NobleConXV
electroCore Inc.
NobleConXV
Pyxis Tankers Inc.
Pyxis Tankers Inc. at NobleConXV
Comtech Telecommunications Corp.
Comtech Telecommunications Corp. at NobleConXV
Pangaea Logistics Solutions Ltd.
Pangaea Logistics Solutions Ltd. at NobleConXV
Seanergy Maritime Holdings Corp
Seanergy Maritime Holdings at NobleConXV
TrovaGene Inc.
TrovaGene Inc at NobleConXV
Equity Research Report Release
Share  
 

Thursday, January 9, 2020

Media Industry Report

The Internet Takes Over The World

Michael Kupinski, DOR, Senior Research Analyst, Noble Capital Markets, Inc.

Listen To The Analyst

Refer to end of report for Analyst Certification & Disclosures

  • Overview. In this quarterly Media Review, we look at the past 10 years, the past year, and quarter and what the future holds for media companies. This report highlights our favorite picks for 2020 by sector.
  • Digital Media & Technology. Digital Media now accounts for more advertising than all traditional mediums combined. Have there been unintended consequences of privacy regulations?
  • Broadcast Television. TV stocks outperformed the general market over the past decade, fueled by industry consolidation and a windfall from high margin Retransmission revenue. Looking beyond 2020, which is likely to be a good year, what will the next decade look like?
  • Broadcast Radio. John Malone, the owner of Sirius XM and Pandora, signals his ongoing interest in iHeart Media by asking approval from the Justice Department to increase his ownership stake. What are the implications?
  • Publishing. The sector had a good performance in 2019, but under-performed for the past 10 years. What drove the performance this year? How is the industry positioned for the next 10 years?

Click 'view previous report' for company specific disclosures on Noble covered companies.

Overview

The Internet Takes Over The World

As we start 2020 and a new decade, we take look back the past decade and look forward toward what the future may hold for Media companies. According to several advertising prognosticators, Internet Media accounted for roughly 50% of total US advertising spend in 2019, more than triple from 15% just 10 years earlier. Incredibly, in a short 10 years, the Internet accounts for more advertising than all of the traditional mediums combined! The media sectors that suffered the most from the growth of the Internet were Newspapers, Magazines, Radio, and, to a lesser extent, Television and Out-Of-Home. Newspapers declined from roughly 22% of total US advertising in 2009 to roughly 5% in 2019. Magazines share declined from 12% to 5% and Radio from 11% to 7%, respectively. And, for the first time, Television, the second largest medium behind the Internet, fell below 30% of total US advertising to 28%.

While it is difficult to determine with complete accuracy the performance of the sectors over the past 10 years, given mergers, spin-offs, and bankruptcies, the Television sector was the only traditional media sector to outperform the general market over the past decade. The TV stocks were up 736% from 2009 to 2019 versus 189% gain for the general market as measured by the S&P 500 Index over the comparable period. The TV companies benefited from a brand new and highly profitable revenue stream, Retransmission revenues, and significant industry consolidation. Many of the largest TV consolidators, including Nexstar (+2,783%), Sinclair (+723%), and Gray Television (view previous report)(+1,338%), outperformed the rest of the group. In contrast, there were very few Digital Media companies public 10 years ago and, as such, we do not have an Index to compare. 

The significance of the stock performance for the past 10 years, as it was in 2019 for all media companies, including Digital Media, is that the stock valuations were influenced by M&A activity. This is true for the Publishing stocks in 2019 (discussed later in this report), which had one of its best performances in years. But, the momentum of the Internet and Digital Media appear to be hard to stop. In 2019, as Figure #1 illustrates, Noble’s Ad Tech (+75%), Social Media (+58%), and MarTech (+43%) Indices all significantly outperformed the S&P 500 (+29%) for the year, while Noble’s Digital Media Index (+26%) performed in-line with the broader market.  

As we look into our crystal ball, there will be some favorable fundamental tailwinds in 2020, given the expected influx of Political advertising and the expectation of an expanding general economy. In addition, we expect many media companies to repair debt heavy balance sheets, which has been a result of recent acquisitions. As such, we anticipate that media stocks, in general, should have a favorable 2020. We encourage investors to be selective, however, given the late stage economic cycle and the secular headwinds from the Internet. This report highlights some of the challenges and opportunities by sector and some of our current favorites for 2020.  

Figure #1

2019 Digital Media Performance


Internet, Digital Media & Technology

Unintended Consequences of Privacy Regulation

All four segments of Noble’s Internet and Digital Media sectors performed well in 2019.  Noble’s Ad Tech (+75%), Social Media (+58%), and MarTech (+43%) Indices all significantly outperformed the S&P 500 (+29%) for the year, while Noble’s Digital Media Index (+26%) performed in-line with the broader market.  

Despite the strong stock price performances across the board, we don’t expect companies in the Internet and Digital Media sector to rest on their laurels.  Change is the only constant in this industry.  Whether to stay a step ahead or just to stay alive, M&A in the Internet and Digital Media sectors has remained healthy.  While the Big Three (Google, Facebook and Amazon) may account for roughly 75% of the industry’s revenues, in a $130B industry, that still leaves $30B+ marketplace growing at a double-digit rate.  We expect continued consolidation in the Ad Tech sector as independent companies seek to build scale and acquire new capabilities in an era of mass personalization driven by access to first party (not just third party) data.  The focus on first party data is likely to drive M&A in coming quarters.  Consolidation will provide advertisers with alternatives to the Big Three, while also reducing the number of vendors they are partnered with, thus reducing the ad tech “taxâ€? (numerous middlemen taking a percentage of an ad buy).   

Figure #2

Digital Media, Fourth Quarter 2019 Performance


As tech giants have gotten bigger, politicians have begun to call for greater regulation on the tech “monopoliesâ€?.  While there appear to be increasing calls to “break them upâ€?, to date, efforts to ensure consumer protection and privacy by regulating the largest tech companies has resulted, unintentionally, in making them stronger.  In May 2018, Europe’s General Data Protection and Regulation (GDPR) went into effect, and on January 1st, 2020, the California Consumer Privacy Act (CCPA) went into effect. Companies such as Google and Facebook used GDPR as a reason to no longer share data with third parties.  This provided them with more control over data and limited the effectiveness of the data third parties used to compete in the ad ecosystem. 

GDPR and CCPA restrict the use of personally identifiable information (pii) in marketing and already have or will result in a decline in the use of cookies to track consumer behavior.  Browsers now block (Apple’s Safari) or limit (Google’s Chrome) cookie use by requiring consumers to opt-in. Online publishers are finding it harder to scale audiences as cookies are either blocked or require consent, making it harder for online publishers to create marketing segments at scale.

In short, legislation that forces the systemic removal of digital profiles and identities (which have been used to prove attribution), is effectively ceding control to the walled gardens of Google, Facebook and Amazon.  For example, pre-CCPA, a retailer might generate leads by buying data and audience models from third parties, but post-CCPA, the largest source of leads at scale are those brokered within the black boxes and walled gardens of Google, Facebook and Amazon.

Perhaps as a response to regain control over their data, 2019 was the first year that brands themselves began to make acquisitions in the ad tech or marketing tech sectors.  For example, in March of 2019, McDonald’s bought audience personalization company Dynamic Yield for $300 million; Nike acquired analytics and inventory optimization company Celect in August 2019, and in October 2019, Mastercard acquired the customer data and loyalty marketing company Session M. 

Connected TV M&A to Remain Healthy

M&A in the connected TV sector ramped up considerably in 2019, and in the fourth quarter in particular.  When programmatic buying first began to take hold in the early 2010s, many industry execs opined that the lessons learned in online advertising would serve them well as programmatic or automated buying shifted to the biggest pot of gold:  television.  Of course, this was when TV advertising was 3x larger than online ad spend.  But lessons learned in online advertising did not translate easily to TV, and in the years it took trying to figure out how to bring targeting and addressability to TV, online advertising surpassed TV advertising in size ($130B vs. $70B).  Nevertheless, it is clear that M&A action has moved into the OTT or connected TV space, given the promise of marrying mass audiences with addressability.  For example, in the month of October alone:

  • Roku announced it would acquire DSP Dataxu for $150M to bring “data-driven modeling focused on business outcomes for brandsâ€? to connected TV;
  • AT&T’s Xandr acquired Clypd, a sell side platform (SSP) providing marketers the ability to buy both digital and linear ads with improved targeting; and
  • LiveRamp acquired Data Plus Math for $150 million providing marketers the flexibility to marry “TV and digital to any real-world outcome online or offline“ and more accurately measure ad effectiveness. 

Over-the-top (OTT) TV platforms were also in demand in 2019: in January, Viacom acquired Pluto TV for $340 million, and in April, Altice USA acquired Cheddar TV for $200 million.

While it is likely that M&A activity will drive stock performance in the sector going forward, our stock recommendations do not speculate on M&A to drive stock values and focus on fundamentals. As such, turning toward our favorite plays in 2020 and beyond, investors are encouraged to look at several sectors within the Internet, Digital Media and Technology space that have compelling fundamentals and/or turnaround prospects. In the Internet e-commerce space, we favor 1800Flowers.com (view previous report) as our favorite play. The company is at the forefront of technology enabled commerce, including conversational commerce through in-home devices. In the Ad Tech and Marketing Services space, we favor Harte Hanks (view previous report). We believe that the company is positioned for a turnaround in 2020 fundamentals. Finally, we recommend Akazoo (view previous report) as one of our favored ways to play the strong demand for streaming audio services. 

Broadcast Television

Is The Golden Age Of TV Stocks Over?

As Figure # 3 illustrates, the TV sector slightly under performed in the fourth quarter 2019, up a 7% versus a 10% gain in the S&P 500. But, more importantly the TV stocks performed in line with a strong general market in 2019, up 28% versus the general market, which was up nearly 29% as measured by the S&P 500. This market-weighted index was led by the shares of Sinclair Broadcasting (up 62%), Tegna (up 43%), and Nexstar (up 30%). Others lagged the industry and the market, including Gray Television (view previous report)(up 11%) and E.W. Scripps (view previous report)(down 16%). The increase in broadcast TV stocks also outperformed the industry's average 22% increase in off election years, which goes back roughly 30 years. The question on everyone's mind, "Has the long period of out-performance ended?"

Broadcast television stocks were the darlings of Wall Street over the past decade, increasing 736% versus a gain of 189% in the S&P 500 in the comparable period from 2009 to 2019. Leading industry consolidators in the M&A fueled decade outperformed most in the group. The shares of Nexstar, which led the industry's performance, increased a stunning 2,782%, followed by Gray Television (view prevous report), which increased 1,338%, and Sinclair Broadcasting, up 723%. Several factors influenced the strong performance including the increasing importance of Retransmission revenue.

Figure #3

Fourth Quarter 2019 Traditional Media Performance


Total Retransmission revenue for the industry was a modest $760 million in 2009, or 4% of total broadcast revenue, and grew at a compound annual rate of 30% to an estimated $10.8 billion in 2019.  In 2019, Retransmission revenue accounted for roughly 33% of total Broadcast TV revenue. This high margin and predictable revenue stream became a ballast to support a heightened M&A environment. Having scale was important to protect and to grow Retransmission revenue when negotiating the fees with cable and satellite operators. But, this revenue stream has become largely exploited by the end of the decade. Retransmission revenues grew an estimated 6% in 2019 and is projected to grow in the low single digits for the foreseeable future.

Furthermore, the M&A environment has cooled. A number of broadcasters have reached the ownership cap of 39% of US total TV households and it appears unlikely that the FCC will make a move to lift it. In addition, a number of TV broadcasters are shoring up balance sheets as a result of recent acquisitions, which has taken several broadcasters out of the M&A market for now. But, importantly, there is a smaller pool of attractive stations left to buy. 

We believe that the strong Retransmission revenue and Political advertising growth has masked some of the underlying issues over broadcast TV advertising. The Internet has recently taken share from the Broadcasters, with the total share of advertising expected to dip to 28% in 2019, the first time the industry has been below 30% of total advertising. In addition, the growth of OTT platforms could pose an even bigger problem. While net Retransmission revenue may not be affected, given that Broadcasters make the same economics on the OTT platforms as it does on cable, there is a substantial risk that continued audience fragmentation as consumers shift to paid content service providers, like Netflix, could lead to lower ad rates, or CPMs. There may not be enough viewers that are attractive to advertisers. 

Competitive pressures from the Internet were the concerns in 2009. At that time, analysts under estimated the growth of Retransmission revenue and had dire forecasts for the next decade for the Broadcasters. However, at this point, there does not appear to be a growth driver as important as Retransmission revenue. A new broadcast TV standard, ATCS 3.0, is still in its infancy and significant revenue opportunities have not yet been determined. We believe that there will be significant pressure for Broadcast TV executives to seek new revenue streams from the new broadcast standard in coming years.  

Consequently, it is very likely that the next decade will be far different than the roll-up strategy of the past in terms of what will drive stock valuations. The wild card is a possible shift in the Political will to lift onerous ownership caps, which does not appear to be likely currently. The Broadcast TV stocks likely will find it difficult to climb the wall of worry over the secular challenges in advertising. It is not surprising that many group TV station owners are looking for growth outside of TV stations, such as Sinclair and CBS. We believe that there will be increasing attention on content creation to be competitive with the likes of Netflix and Amazon. Nonetheless, the fundamentals of the industry appear favorable in 2020, a function of favorable Retransmission revenue growth, the influx of Political advertising, and a favorable general economy.

How should investors play the industry? We favor companies that are below the ownership cap and have the ability to make acquisitions, like Gray Television (view previous report). In addition, we favor Broadcasters that have a developed business strategy into faster revenue growth areas, like E.W. Scripps (view previous report). Its growth businesses include Podcasting and OTT broadcast Networks. Finally, we like Entravision (view previous report) because of its relatively healthy balance sheet and likely beneficiary of Political advertising, as well.

Broadcast Radio

Is Radio Attractive Again?

It has been nearly 2 years since John Malone, the CEO of Liberty Media, the owner of Sirius XM and Pandora, tried to increase its stake in iHeartMedia. Those efforts were repeatedly rebuffed by bondholders. But, recently, Liberty Media, which currently owns 4.8% of iHeart, asked the Justice Department for approval to increase its equity stake in an effort to determine any roadblocks. The Justice Department likely will have some concerns regarding the need for competition between Sirius XM and terrestrial radio. The conditions that the Justice Department may set could determine the economic value of pursuing a move to increase the stake. Why would John Malone seek to own a terrestrial radio company when he is already invested in two of the fastest growing segments of the audio industry, streaming and subscription audio? What are the implications should the Justice Department allow Liberty to increase its stake in iHeart? 

First, one of the most attractive attributes of terrestrial radio is the reach. While time spent listening has declined (as it has for most mediums), radio still reaches roughly 92% of the US households, which has been relatively stable over the past 10 years. Furthermore, radio still has a significant amount of engagement with its audience. Consequently, radio is a megaphone that could potentially drive business. iHeart has effectively done this through the development of its podcasting business, for instance. It uses its own air time to promote it. Streaming audio companies, like Akazoo (view prevous report), uses free radio stations to drive its premium subscriptions, which is one of the reasons its customer acquisition costs are low. Similarly, iHeart would be able to use its megaphone to drive subscriptions to Pandora or Sirius XM. But, importantly, iHeart's platform is not just the terrestrial radio audience, but includes roughly 100 million users from its Digital businesses and an estimated 200 million from its social media presence, 

Yet another reason for Malone's interest in iHeart is that advertisers seek a multi platform buy that delivers a significant audience. In our view, this has been one of the gating factors for the likes of Pandora and Sirius XM. There are very few people that listen to a particular station at any given time. Consequently, a combination of Pandora and Sirius XM, with a large terrestrial radio platform, a digital presence, concerts and social media presence, could offer compelling advertising platform opportunities. iHeart management has stated that advertisers may come in its door for one of its offerings and then expand into other platforms. 

Finally, we believe that John Malone likes cash flow businesses. The radio industry, in general, and iHeart, in particular, is a cash generating machine. iHeart is expected to generate $375 million to $400 million in free cash flow in 2019. The company is expected to pare down debt in 2020, allowing it to reduce its debt leverage into the 4s by the end of the year. 

What are the implications for the radio industry if the Justice Department grants Liberty approval to increase its stake? Such a move would be a "cattle call" for the industry to consolidate. Scale would be important to compete with the audience levels that iHeart delivers. There will be a need to compete against the potential increased competitive threats from the likes of Pandora or Sirius XM. But, radio companies need to consolidate smartly, without significantly levering up balance sheets, especially given the late stage of this economic cycle. 

The Radio stocks had a nice bounce recently. The stocks outperformed the general market in the fourth quarter 2019, up 18% versus the market's 10% advance. The gains in the fourth quarter, however, were not enough to offset the year earlier declines. As a result, the Radio stocks under performed the general market for the full year 2019, down 6% versus a 29% gain for the broad market. This market cap weighted index masks some poor performances, like Entercom (down 41% for the year) and Beasley Broadcasting (down 17%). The strongest performer in the sector was Cumulus Media (view previous report), up 35%. The company had a series of favorable quarters following the emergence from bankruptcy. The radio stocks performed poorly over the past decade, as well. Over the past decade, the radio stocks on average was up an estimated 9% versus a general market gains of 189% in the comparable period. This is an estimate given bankruptcies in the industry. 

So, what does the future hold for radio? We believe that the heightened interest in radio by a proven value creator, like John Malone, should provide a reason for radio investors to take notice. The fundamentals in 2020 appear favorable, which should allow radio broadcasters to aggressively pare down debt. Furthermore, many in the industry have restructured balance sheets, providing more financial flexibility should the economy turn sour. Companies like Townsquare Media (view previous report), which have a compelling, fast growing digital media business, stand apart from the pack in terms of growth and stock valuation. As such, it remains our favorite in the sector. In addition, we believe that there is still a favorable risk/reward relationship with Cumulus Media (view previous report), as that company continues to execute on an aggressive debt reduction strategy. 

Publishing

In A Precarious Spot

As Figure # 4 illustrates, Publishing stocks had a good 2019, but lagged the performance of the other traditional media companies in the fourth quarter. In the fourth quarter, the group was up a modest 5% versus a 10% increase for the general market. But, for 2019, the Noble Publishing Index increased a strong 24%, slightly under performing the 29% increase for the general market. The favorable performance for the year was bolstered by a good showing by the New York Times and the merger between Gannett (view previous report) and New Media. 

Figure #4

2019 Traditional Media Performance 


New York Times has successfully pursued a digital business model and its shares outperformed the sector. The company set a goal of delivering $800 million in digital revenue, roughly 50% of its total revenue by the end of 2020, and it appears to be well on its way toward that goal. The shares of New York Times increased 13% in the fourth quarter, outperforming the market's 10% advance. In addition, the shares increased 28% for the year roughly in line with the 29% growth for the general market. The New York Times shares increased a solid 160.4% for the past 10 years, but that increase was below the general market's increase of 188.5%.

The digital strategy of the New York Times and the revenue growth that the company exhibited over the past several years were inspiration to the rest of the publicly traded publishing companies to pursue a digital strategy. Certainly, the NYT shares reflected tangible benefits to its shareholders for executing on its digital strategy. The question is whether or not the New York Times model can be replicated by other publishers?

At this point, the rest of the industry is disheveled. Certain private equity firms are seeking an exit strategy from its investments in the industry, some of which appear to be milking cash flow and not investing into a digital future. Others are seeking scale to provide more opportunity for operating synergies and for an improved digital footprint. Finally, many in the industry are burdened with a significant amount of debt, which limits the ability to invest in a digital future. These are issues weighing on investors in the sector. 

In our view, financial restructurings are likely and necessary. We agree that there are benefits from scale, but it is important that balance sheets are not burdened with a significant amount of debt. As such, we encourage investors to be selective and view investments in the industry as speculative. Our favorite in the industry is Tribune Publishing (view previous report), which currently has no debt and a sizable cash position. We would note that the company's current largest shareholder owns newspaper assets and its interests may not be aligned with all shareholders. Finally, we view the shares of McClatchy (view previous report) as a option on that company's financial restructuring. 





GENERAL DISCLAIMERS

All statements or opinions contained herein that include the words "we", "us", or "our" are solely the responsibility of Noble Capital Markets, Inc.("Noble") and do not necessarily reflect statements or opinions expressed by any person or party affiliated with the company mentioned in this report. Any opinions expressed herein are subject to change without notice. All information provided herein is based on public and non-public information believed to be accurate and reliable, but is not necessarily complete and cannot be guaranteed. No judgment is hereby expressed or should be implied as to the suitability of any security described herein for any specific investor or any specific investment portfolio. The decision to undertake any investment regarding the security mentioned herein should be made by each reader of this publication based on its own appraisal of the implications and risks of such decision.

This publication is intended for information purposes only and shall not constitute an offer to buy/sell or the solicitation of an offer to buy/sell any security mentioned in this report, nor shall there be any sale of the security herein in any state or domicile in which said offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or domicile. This publication and all information, comments, statements or opinions contained or expressed herein are applicable only as of the date of this publication and subject to change without prior notice. Past performance is not indicative of future results. Noble accepts no liability for loss arising from the use of the material in this report, except that this exclusion of liability does not apply to the extent that such liability arises under specific statutes or regulations applicable to Noble. This report is not to be relied upon as a substitute for the exercising of independent judgement. Noble may have published, and may in the future publish, other research reports that are inconsistent with, and reach different conclusions from, the information provided in this report. Noble is under no obligation to bring to the attention of any recipient of this report, any past or future reports. Investors should only consider this report as single factor in making an investment decision.

IMPORTANT DISCLOSURES

This publication is confidential for the information of the addressee only and may not be reproduced in whole or in part, copies circulated, or discussed to another party, without the written consent of Noble Capital Markets, Inc. ("Noble"). Noble seeks to update its research as appropriate, but may be unable to do so based upon various regulatory constraints. Research reports are not published at regular intervals; publication times and dates are based upon the analyst's judgement. Noble professionals including traders, salespeople and investment bankers may provide written or oral market commentary, or discuss trading strategies to Noble clients and the Noble proprietary trading desk that reflect opinions that are contrary to the opinions expressed in this research report.
The majority of companies that Noble follows are emerging growth companies. Securities in these companies involve a higher degree of risk and more volatility than the securities of more established companies. The securities discussed in Noble research reports may not be suitable for some investors and as such, investors must take extra care and make their own determination of the appropriateness of an investment based upon risk tolerance, investment objectives and financial status.

Company Specific Disclosures

The following disclosures relate to relationships between Noble and the company (the "Company") covered by the Noble Research Division and referred to in this research report.
Noble is not a market maker in any of the companies mentioned in this report. Noble intends to seek compensation for investment banking services and non-investment banking services (securities and non-securities related) with any or all of the companies mentioned in this report within the next 3 months

ANALYST CREDENTIALS, PROFESSIONAL DESIGNATIONS, AND EXPERIENCE

Director of Research. Senior Equity Analyst specializing in Media & Entertainment. 34 years of experience as an analyst. Member of the National Cable Television Society Foundation and the National Association of Broadcasters. BS in Management Science, Computer Science Certificate and MBA specializing in Finance from St. Louis University. Named WSJ 'Best on the Street' Analyst six times.
FINRA licenses 7, 24, 66, 86, 87.

WARNING

This report is intended to provide general securities advice, and does not purport to make any recommendation that any securities transaction is appropriate for any recipient particular investment objectives, financial situation or particular needs. Prior to making any investment decision, recipients should assess, or seek advice from their advisors, on whether any relevant part of this report is appropriate to their individual circumstances. If a recipient was referred to Noble Capital Markets, Inc. by an investment advisor, that advisor may receive a benefit in respect of
transactions effected on the recipients behalf, details of which will be available on request in regard to a transaction that involves a personalized securities recommendation. Additional risks associated with the security mentioned in this report that might impede achievement of the target can be found in its initial report issued by Noble Capital Markets, Inc.. This report may not be reproduced, distributed or published for any purpose unless authorized by Noble Capital Markets, Inc..

RESEARCH ANALYST CERTIFICATION

Independence Of View
All views expressed in this report accurately reflect my personal views about the subject securities or issuers.

Receipt of Compensation
No part of my compensation was, is, or will be directly or indirectly related to any specific recommendations or views expressed in the public
appearance and/or research report.

Ownership and Material Conflicts of Interest
Neither I nor anybody in my household has a financial interest in the securities of the subject company or any other company mentioned in this report.\

NOBLE RATINGS DEFINITIONS
% OF SECURITIES COVERED
% IB CLIENTS
Outperform: potential return is >15% above the current price
86%
25%
Market Perform: potential return is -15% to 15% of the current price
14%
2%
Underperform: potential return is >15% below the current price
0%
0%

NOTE: On August 20, 2018, Noble Capital Markets, Inc. changed the terminology of its ratings (as shown above) from "Buy" to "Outperform", from "Hold" to "Market Perform" and from "Sell" to "Underperform." The percentage relationships, as compared to current price (definitions), have remained the same. Additional information is available upon request. Any recipient of this report that wishes further information regarding the subject company or the disclosure information mentioned herein, should contact Noble Capital Markets, Inc. by mail or phone.

Noble Capital Markets, Inc.
225 NE Mizner Blvd. Suite 150
Boca Raton, FL 33432
561-994-1191

Noble Capital Markets, Inc. is a FINRA (Financial Industry Regulatory Authority) registered broker/dealer.
Noble Capital Markets, Inc. is an MSRB (Municipal Securities Rulemaking Board) registered broker/dealer.
Member - SIPC (Securities Investor Protection Corporation)
Report ID: 11091





NEWS Channel
  Industry Report - Media - The Internet Takes Over The World, 01/09/2020
  Research - Grindrod Shipping (GRIN): Dry Bulker with Tanker Upside - Launching Coverage with Outperform, 01/09/2020
  Research - Sierra Metals (SMTS): Plan to Return Capital in 2020 Highlights Confidence in Sustainable Free Cash Flow Growth, 01/09/2020
  Industry Report - Energy - Exploration and Production: 2019 Review and Outlook, 01/08/2020
  Ari Fleischer to Present at NobleCon16 Investor Conference, 01/08/2020
  Research - Comtech Telecommunications (CMTL) - Troposcatter Award Bigger than We Thought, 01/08/2020
  Research - Dyadic International Inc. (DYAI) - Confidence in 2020 Outlook, 01/08/2020
  Research - Kratos Defense & Security (KTOS) - Additional Contract Wins, 01/08/2020
  Long Term Investors and Small Cap Stocks, 01/07/2020
  Industry Report - Metals & Mining 2019 Review and Outlook, 01/07/2020
  Research - Great Panther Mining Limited (GPL) - Prepayment Agreements Enhance Liquidity and Underscore Operational Confidence, 01/07/2020
  Research - ACCO Brands Corporation (ACCO) - Risk Or Reward Is Favorable, 01/06/2020
  Can Algorithmic Trading Continue to Expand?, 01/06/2020
  Research - Scorpio Bulkers (SALT): Tanker Investment Helps Offset Weaker Dry Bulk Market, 01/03/2020
  Research - Great Lakes Dredge & Dock (GLDD) - Yearend Awards Total $83 million - Large Potential Awards on Horizon, 01/02/2020
  Research - Kratos Defense & Security (KTOS) - Well Positioned for 2020, 01/02/2020
  How Investment Professionals are Preparing for the New Decade, 12/31/2019
  Research - Energy Fuels (UUUU) - Is Relief for the Uranium Industry Imminent?, 12/30/2019
  Tech stocks were big winners in 2019 - Where to invest money in 2020?, 12/30/2019
  Research - Aurania Resources (ARU:CA) - Making the Most of a Mineral-Rich Project, 12/27/2019
  Research - Onconova Therapeutics (ONTX) - Recent MDS data and what it means for Onconova, 12/27/2019
  Cryptocurrency and the Howey Test: Are They Securities?, 12/26/2019
  Can KLK7 be used to treat skin inflammation?, 12/26/2019
  Happy Holidays, 12/24/2019
  Space Force Will Require Emerging Technologies, Emerging Growth Companies in Various Sectors may Soar, 12/23/2019
  Research - E.W. Scripps Company (SSP) - Why Is Scripps Among Our 2020 Favorites?, 12/23/2019
  Research - Sierra Metals (SMTS) - SMTS Updates Yauricocha Mineral and Reserve Estimate, 12/23/2019
  Are Dual-Class Stocks a Mistake for Investors?, 12/20/2019
  Research - The McClatchy Company (MNI) - A Hopeful Sign For The Equity, 12/20/2019
  Improving Economy with Production Cuts are Pushing Oil Prices Higher, 12/19/2019
  Research - Coeur Mining (CDE) - Exploration Efforts to Increase in 2020; Focus on Resource Discovery and Conversion, 12/19/2019
  Research - QuoteMedia (QMCI) - Among Our Candidates For Most Likely To Succeed in 2020, 12/19/2019
  Research - One Stop Systems (OSS) - Price Decline Presents Favorable Risk/Reward Opportunity, 12/18/2019
  Research - ProMis Neuroscience (PMN:CA) - What Does Biogen’s Progress Mean for ProMIS?, 12/18/2019
  Should the SEC Relax Requirements for Accredited Investors? , 12/17/2019
  Putting the “Supplemental” Back into Non-GAAP Disclosures , 12/16/2019
  Aramco Goes Public in the Same Week Chevron Announces a Large Write Down, 12/16/2019
  Research - DLH Holdings Corp (DLHC): Well Positioned to Capitalize on Government Services Trends, 12/13/2019
  Research - Energy Services of America (ESOA) - Solid Finish to Fiscal Year 2019 and Special Dividend Announced, 12/13/2019
  Red-hot Biotech Stocks Boosting Small Cap Index, 12/13/2019
  Research - DLH (DLHC): Another Solid Quarter with Revenue Topping Expectations, 12/12/2019
  Finding a Cure for AIDS Part II (Dec. 2019), 12/12/2019
  Research - Energy Services of America (ESOA) - Launching Coverage. Looking for Solid Finish to Fiscal Year., 12/11/2019
  Research - Salem Media (SALM) - Why The Dividend Cut Should Help The Stock, 12/11/2019
  Does Santa’s Early Arrival Mean Retailers will have a Merry Christmas?, 12/11/2019
  Research - Coeur Mining (CDE): Increasing 2020 Estimates; Maintaining Outperform Rating, 12/10/2019
  Research - 1-800-Flowers.com (FLWS): Flowers At A Discount, 12/10/2019
  Research - Akazoo (SONG): Music To Our Ears, 12/10/2019
  Research - Great Lakes Dredge & Dock (GLDD): Renewed Confidence in Dredging Market Outlook, 12/10/2019
  Should Online Retailers Open Neighborhood Shops?, 12/09/2019
  Should Government Limit the Export of Fossil Fuels?, 12/06/2019
  Research - Comtech (CMTL) - Strong Q1; Can The Momentum Be Maintained?, 12/05/2019
  Research - QuoteMedia (QMCI) - What Investors Are Looking For, 12/05/2019
  New Era of Gene Therapy , 12/04/2019
  Can Modern Monetary Theory Work?, 12/04/2019
  Research - Harte-Hanks (HHS) - New Leadership For A New Phase?, 12/03/2019
  Research - Aurania Resources (ARU:CA) - On the Road to Finding the Lost Cities?, 12/02/2019
  Research - Great Panther Mining Limited (GPL) - GPL Cuts 2019 Production Guidance Again; Lowering Rating to Market Perform, 12/02/2019
  Today's Feature, 12/01/2019
  Research - Akazoo (SONG) - Creating A New Vibe On Messaging, 11/27/2019
  Research - Comtech (CMTL) - Satellite Ground Equipment Acquisition, 11/27/2019
  Is Tesla’s Cybertruck a Turkey?, 11/27/2019
  The “Pilgrims” of Today, 11/27/2019
  Research - Dyadic (DYAI) - Step Closer to Generating Human-like Proteins with C1 Platform, 11/26/2019
  Research - Euroseas (ESEA) - 3Q2019 Results In Line. Another Acquisition Adds Scale, 11/26/2019
  Research - Information Services (III) - RPA Market Continues to Attract Investors, 11/26/2019
  Should Investors be Wary of the Companies Raising Dividends?, 11/25/2019
  Is Company Sponsored Research the Future for Small-Cap Stock Investors?, 11/25/2019
  Research - Aurania Resources (ARU:CA) - Drilling at Yawi is Off to a Good Start, 11/22/2019
  Research - Onconova Therapeutics (ONTX) - What do recent deals mean for Onconova?, 11/22/2019
  Research - Great Lakes Dredge & Dock (GLDD) - Investor Meetings Renew Confidence, 11/21/2019
  Have Active Managers Received a Bum Rap?, 11/21/2019
  Research - Tribune Publishing (TPCO) - What Does A Change In Its Largest Shareholder Mean?, 11/20/2019
  The pros and cons of media consolidation, 11/20/2019
  Why are basic material industries suffering despite government help?, 11/19/2019
  Research - EuroDry (EDRY) Solid Quarter and Balanced Contracting Tempers Volatility, 11/18/2019
  Research - ProMIS Neurosciences (PMN:CA) - Progress Made in Q3 Bodes Well for ProMIS' Prospects, 11/15/2019
  Research - Pyxis Tankers (PXS) - Solid Improvement Likely Extends Into Next Year, 11/15/2019
  Research - Sierra Metals (SMTS) - Higher EBITDA and Operating Cash Flows Driven by Strong Q3 Production, 11/15/2019
  Research - electroCore (ECOR) - Q3 2019: Revising Outlook After Slow Quarter, 11/15/2019
  Research - QuoteMedia (QMCI) - Not Likely To Move The Needle, 11/14/2019
  Research - The McClatchy Company (MNI) - Lots Of Balls In The Air, 11/14/2019
  In an Increasingly Mobile Society, Will Cryptocurrencies Gain More Acceptance? , 11/14/2019
  Research - Dyadic (DYAI) - Q3 2019: Continuing Expansion of C1 Technology Applications, 11/14/2019
  Research - Endeavour Silver (EXK) - Will El Curso Play a Role in Guanacevi's Turnaround?, 11/13/2019
  Research - Genie Energy (GNE) - Boring quarter welcomed after rough 2Q, 11/13/2019
  Research - Harte-Hanks (HHS) - Ahead Of Its Turnaround Plan, 11/13/2019
  Research - Salem Media (SALM) - Addressing The Elephant In The Room, 11/13/2019
  The Channelchek Equity Research College Challenge on the NASDAQ Tower, 11/13/2019
  Does the recent RAS inhibitor data show that we can effectively treat RAS-related cancers?, 11/12/2019
  Research - Cumulus Media (CMLS) - Building Value Through Aggressive Debt Reduction, 11/12/2019
  Research - Pangaea Logistics Solutions (PANL) - Unique Business Model Delivers Solid Results, 11/11/2019
  Research - Information Services Group Inc. (III) - Additional 3Q19 Comments; Updated Projections, 11/11/2019
  Research - E.W. Scripps Company (SSP) - What Is At The Core Of Q3 Results?, 11/11/2019
  Research - Trovagene (TROV) - Q3 2019 Results: Trovagene Continues Progressing, 11/11/2019
  Research - Eagle Bulk Shipping (EGLE) - Stock Price Weakness Spells Opportunity, 11/08/2019
  Research - Entravision Communications Corporation (EVC) - What It Can Do To Change The Narrative?, 11/08/2019
  Research - Gray Television (GTN) - Does Q3 Political Indicate a Windfall for 2020, 11/08/2019
  Research - One Stop Systems Inc. (OSS) - Strong 3Q19 Sets Stage for Excellent Full Year 2019, 11/08/2019
  Research - Tribune Publishing Company (TPCO) - Why This Quarter Reflects The Quality Of Its Cash Flow, 11/08/2019
  Research - Genco Shipping (GNK) - Improving Financials and Asset Sales Trigger Special and Regular Dividends, 11/07/2019
  Research - Information Services Group (III) - Mixed Third Quarter Results, But Record Adjusted EBITDA and Strong Cash Generation, 11/07/2019
  Research - Kelly Services Inc. (KELYA) - What Was Behind the Disappointing 3Q19 Results?, 11/07/2019
  Research - Seanergy (SHIP) - 3Q2019 Shortfall Masks Improving Operating Results, 11/07/2019
  Research -Coeur Mining (CDE): Q3 Results Better Than Expected; Increasing Estimates, 11/06/2019
  Research - Endeavour Silver (EXK): Third Quarter In Line With Our Expectations; Lowering 2020 Estimates, 11/06/2019
  Research - Great Lakes Dredge & Dock (GLDD): Backlog rebounded and set up for strong finish to year, 11/06/2019
  Research - Kratos Defense & Security (KTOS): Another Solid Quarter But Will Continuing Resolution Hit The Pause Button?, 11/06/2019
  Research - Townsquare Media (TSQ): Scores Another Good Quarter , 11/06/2019
  Research - Vectrus (VEC): Can Outperformance Continue?, 11/06/2019
  Are Strong Earnings a Sign that Economic Concerns are Unwarranted? , 11/05/2019
  Taking Stock of Index Funds, 11/04/2019
  Research - Energy Fuels (UUUU) - No Big Surprises , 11/04/2019
  Research- Great Panther Mining (GPL) - Q3 Falls Short on EPS but Exceeds on EBITDA, 11/01/2019
  Research - Orion Group Holdings (ORN) - On the Right Track. Moving Up Estimates., 11/01/2019
  Research - 1-800-Flowers.com (FLWS) - A Surprisingly Good Harvest, 11/01/2019
  Research - ACCO Brands (ACCO) - Post 3Q19 Conference Call Notes, 10/31/2019
  Research - ORION Group Holdings - Transition Continues with Another Solid Quarter., 10/31/2019
  Research - ACCO Brands (ACCO) - Record 3Q19 Cash Flow; But Top and Bottom Lines Weaker than Expected, 10/30/2019
  Research - Comtech (CMTL) - A Troposcatter Win for Comtech?, 10/30/2019
  Waning Stock Buybacks: Should Investors be Worried? , 10/29/2019
  Sins of Omission , 10/29/2019
  Research - Genco Shipping (GNK) - Adjusting Estimates for Updated Scrubber Program Progress, 10/28/2019
  Research - Onconova Therapeutics (ONTX) - Completion of Enrollment is Pushed Back but Data Readout is on Track, 10/25/2019
  Was the US Right in Removing Troops from Syria?, 10/25/2019
  Industry Report - Noble Capital Markets Biotechnology Industry Overview, 10/25/2019
  Research - ProMIS Neurosciences (PMN:CA) - Is ProMIS’ Alzheimer’s Antibody Better Than Biogen’s?, 10/24/2019
  Research - Scorpio Bulkers (SALT) - Making A Good Move With Special Dividend, 10/24/2019
  Research - Aurania Resources (ARU:CA) - Full Speed Ahead, 10/23/2019
  Research - Genco Shipping (GNK) - 2H2019 Recovery Intact Despite Recent Weakness, 10/23/2019
  Looking for Money Growing on Trees? Try Timber., 10/22/2019
  Is Fracking Safe?, 10/22/2019
  Brant Pinvidic, Host of IPO Podcast Series, on the Channelchek College Research Report Challenge, 10/21/2019
  Can Biosimilars Finally Be Successful in the US?, 10/18/2019
  Research - Seanergy (SHIP) - Positive Impact from Dry Bulk Market Firmness, 10/17/2019
  Research - Great Panther Mining Limited (GPL) - GPL Cuts 2019 Production Guidance; Lowering Estimates and Price Target, 10/17/2019
  Research - Sierra Metals (SMTS) - Third Quarter Production Above Expectations; Raising Estimates, 10/17/2019
  Research - Avino Silver & Gold (ASM) - Avino Reports Third Quarter 2019 Production; Dropping Research Coverage, 10/17/2019
  Research Initiation - Akazoo (SONG) - Getting The Company For A Song, 10/16/2019
  Research - Scorpio Bulkers (SALT) - Dry Bulk Market Firmer, But Fine-Tuning 2H2019 Estimates, 10/16/2019
  Research - DLH Holdings Corp. (DLHC) - Announces Preliminary Results for FY19, 10/16/2019
  Research - Coeur Mining (CDE) - Laying the Groundwork for Improved Performance in 2020, 10/14/2019
  Show Me the Money: Should College Athletes Play for Pay?, 10/14/2019
  Going to the Movies? A Theater or Stream?, 10/11/2019
  Are Planned Power Outages Worth the Cost? , 10/11/2019
  Research - Endeavour Silver (EXK) - Still In Turnaround Mode; Visible Path for Improvement, 10/10/2019
  Industry Report - Media - Is The Sell-Off Over?, 10/10/2019
  Developing a Research Driven Approach: an Investment Bank’s Perspective Webinar, 10/10/2019
  Investing in Microcap Biotech Stocks, Risks and Rewards, 10/09/2019
  How Long Will U.S. Petrochemical Producers Maintain Their Global Advantage?, 10/09/2019
  NetworkNewsBreaks – Genprex, Inc. (NASDAQ: GNPX) Announces Plans to Present at Inaugural MicroCap Rodeo Investor Conference, 10/09/2019
  Ducommun Incorporated Acquires Nobles Worldwide, 10/09/2019
  Industry Report - Energy - Summer's End Brings No Relief For Energy Stocks, 10/08/2019
  Who Is to Blame for the Weak Manufacturing Number and the Market Crash? , 10/08/2019
  Industry Report - Metals & Mining Third Quarter Review and Outlook, 10/07/2019
  Research - Eagle Bulk Shipping (EGLE) - Scrubber Program Change Impacts Estimates, But Outlook Remains Solid, 10/07/2019
  Research - QuoteMedia, Inc. (QMCI) - Could A Bear Market Help This Company?, 10/04/2019
  What’s Going on with the IPO Market?, 10/04/2019
  IPO Podcast - Vanessa Van Edwards, 10/04/2019
  Research - Great Panther Mining Limited (GPL) - Raising Estimates Based on Improving Outlook, 10/03/2019
  Research - Orion Group Holdings (ORN) - Two Marine Awards Help 2020 Outlook, 10/03/2019
  Research - Great Lakes Dredge & Dock (GLDD) - Total 3Q2019 Awards of $319 million Above Expectations., 10/03/2019
  Research - Great Lakes Dredge & Dock (GLDD) - Two New Jobs - 3Q2019 Awards Likely Above $265 million, 10/02/2019
  Research - electroCore (ECOR) - What Do Recent Developments Mean For electroCore?, 10/02/2019
  Research - Kratos Defense & Security - Risk-Reward Turns Favorable. Upgrading Rating, 10/02/2019
  Research - Euroseas (ESEA) - One Good Contract But Rest of the Fleet Not Following...Yet., 10/01/2019
  Research - Sierra Metals (SMTS) - Looking Ahead to 2020, 10/01/2019
  Research - Trovagene (TROV) - Number of Patients with a Complete Response Increases in AML Study, 10/01/2019
  Positive Data from Trovagene Phase 1b_2 Study of Onvansertib Featured in Oral Presentation at European Society for Medical Oncology (ESMO) Conference, 09/30/2019
  IPO Podcast Series: Vanessa Van Edwards, 09/30/2019
  Research - Great Lakes Dredge & Dock (GLDD) - Backlog Rebound, 09/27/2019
  Research - Kelly Services (KELYA) - What's Next?, 09/27/2019
  Research - TherapeuticsMD (TXMD) - On Track for Annovera Soft Launch, 09/27/2019
  NetworkNewsAudio – Genprex Inc. (NASDAQ: GNPX) Building Encouraging New Breast Cancer Treatment Options, 09/27/2019
  Research - Energy Fuels (UUUU) - Relief on the Horizon?, 09/26/2019
  Research - EuroDry (EDRY) - Moving Estimates Higher, 09/26/2019
  Research - Comtech (CMTL) - Raising PT, 09/25/2019
  Smallcap Rally: Russel 2000 Trumps S&P 500 in September , 09/25/2019
  Will New 2020 Climate Change Policies Affect the Market? , 09/25/2019
  Noble Capital Markets Launches Small and Microcap Equity Research Contest, 09/25/2019
  Research - Scorpio Bulkers (SALT) - Will Dry Bulk Market Remain Firm?, 09/24/2019
  Cut to the Chase: The Reality of Rate Cuts, 09/24/2019
  Boeing 737 MAX: What’s Taking So Long?, 09/24/2019
  Research - Endeavor Silver (EXK) - Rating Upgrade, 09/23/2019
  Research - Aurania Resources (ARU.V) - Closed Private Placement, 09/23/2019
  Research - Kratos (KTOS) - Momentum in Unmanned Systems, 09/23/2019
  Silver Still has a Place on the Winners’ Podium, 09/23/2019
  Noble Capital Markets Supports Bahamas Relief Fund Through its NobleCon Investor Conference, 09/23/2019
  Can Smallcap Funds Help Cap Index Overlap in Your Portfolio? , 09/20/2019
  Is the US Accelerating toward Becoming the World’s Energy Capital? , 09/20/2019
  Research - Orion (ORN) Construction Awards Bolster Outlook, 09/19/2019
  Attack on Saudi Refinery: What Does it Mean for You, the Investor?, 09/19/2019
  Investing in Cannabis: Should You Go Green? , 09/19/2019
  Mortgage Rates Jump, 09/19/2019
  Voice of Blockchain to Offer Insights for all Members of the Blockchain Ecosystem, 09/19/2019
  Offshore Wind Power Blows into the Energy Market, 09/18/2019
  Directed Energy Weapons: Star Wars Redux?, 09/18/2019
  Scotiabank supports young Canadians with a $500,000 donation to the Terry Fox PROFYLE program, 09/18/2019
  How Will the Authorization of AB5 Impact Gig Economies?, 09/17/2019
  Will the Market Surpass All-Time Highs? , 09/17/2019
  Industry Report - Minerals - Insights from the Precious Metals Summit, 09/16/2019
  Onconova Therapeutics Announces Presentation on Rigosertib at the RAS-Targeted Drug Discovery Summit, 09/16/2019
  ProMIS Neurosciences Executive Chairman Eugene Williams to Speak on Panel at Fall Investor Summit, 09/16/2019
  NNW News - OnDeck Survey: Economy is Top Concern for Small Businesses Ahead of 2020 Election, 09/13/2019
  Will the Oil Slowdown Provoke a Renewable Energy Takeover?, 09/13/2019
  NetworkNewsAudio – Genprex Inc. (NASDAQ: GNPX) Developing Revolutionary Gene Therapies to Fight Cancer, 09/13/2019
  Chek-in with Mike Kupinski and the CFO of E.W. Scripps, Lisa Knutson., 09/13/2019
  Research - Great Lakes Dredge & Dock (GLDD), 09/12/2019
  Taking the FDA shortcut, 09/12/2019
  Industry Report - Biotechnology - Key Catalysts for Oncology Companies, 09/12/2019
  Industry Report - Biotechnology - Success of Cancer Vaccines Approaching?, 09/12/2019
  Are Nanocap Stocks a Beneficial Addition to Your Portfolio?, 09/11/2019
  Hurricanes Do More Damage than What’s on the Surface , 09/11/2019
  Independent Researchers Find Genprex's TUSC2 Prevents Tumor Growth in Triple-Negative Breast Cancer, 09/11/2019
  Research - Eagle Bulk Shipping (EGLE) - Signaling a Recovery, 09/10/2019
  How Can Innovations in Transportation and Logistics Provide Value to Investors?, 09/10/2019
  Cyclical Economic Shifts: Industrial Companies Could Feel the Effects, 09/10/2019
  Will the Longest Economic Expansion in History Continue? , 09/09/2019
  Can Investing in Natural Resources Provide Future Value?, 09/06/2019
  Will Renewable Energy be the Downfall of Fossil Fuels? , 09/06/2019
  Are the Trade Troubles Coming to an End?, 09/05/2019
  Prescription Drug Pricing: How Would Limited Government Intervention Change the Landscape? , 09/05/2019
  Dyadic to Present at Janney Healthcare Conference, 09/04/2019
  Everything from A-to-Z: There are Consumer Cyclical Stocks for Everyone , 09/04/2019
  Utility Stocks May Offer Low-Risk Investment Potential, 09/04/2019
  Research - QuoteMedia (QMCI) - A Look Ahead, 09/03/2019
  Genprex Provides Forward Looking Guidance and Updates on Corporate Activities, Publishes New Corporate Deck, 09/03/2019
  ProMIS Neurosciences to Present at HC Wainwright Investment Conference, 09/03/2019
  Treasure hunt? Let’s Talk Silver, 09/03/2019
  Research - Aurania Resources (ARU:CA) - Updating Estimates, 08/30/2019
  Will the Slowing in Quarter 3 Affect Microcap Stocks? , 08/30/2019
  Worth the Risk? An Overview of Investing in Small & Microcap Stocks. , 08/30/2019
  How can Blockchain Help Accelerate the Agriculture Industry?, 08/30/2019
  Are Shipping Stocks Shipwrecked by the U.S. and China Disputes?, 08/29/2019
  How Will Rising Trade Tensions Impact the Aerospace Industry? , 08/29/2019
  IPO Podcast - Rob Lowe, 08/29/2019
  Research - One Stop Systems (OSS) - ATM Completed, 08/28/2019
  Research - E.W. Scripps (SSP) - Differentiated From Its Peers, 08/28/2019
  Research - Trovagene (TROV) - Progressing Prostate Cancer Data in Small Number of Patients, 08/27/2019
  Pharma Mergers and Acquisitions: Who’s Really Winning Here?, 08/27/2019
  Will the Uncertain Economy Boost Mining Stocks? , 08/27/2019
  NNW News - Entrepreneurs Tips To Take Gig Work To The Next Level, 08/27/2019
  NNW News - Genprex Inc. (GNPX) Making Headway in Clinical Program Expansion, Company Growth, 08/27/2019
  Trovagene Presents Positive Clinical Data from Ongoing Phase 2 Study of Onvansertib in Metastatic Castration-Resistant Prostate Cancer (mCRPC), 08/26/2019
  What If Yields Turn Negative?, 08/26/2019
  Research - Aurania Resources (ARU.V) - A Growing Number of Targets, 08/23/2019
  Research - 1-800-Flowers.com (FLWS) - Why this quarter stands out., 08/23/2019
  Will Iran Continue to Grow Their Nuclear Program? , 08/22/2019
  Aurania Refines Its Newly Discovered Apai Gold-Silver Target in Southeastern Ecuador, 08/22/2019
  Reserach - Great Lakes Dredge & Dock (GLDD) - Backlog Rebound Expected, 08/21/2019
  The inverted yield curve: what does this really indicate? , 08/21/2019
  Can Germany Survive the Trade War?, 08/21/2019
  Research - Tribune Publishing (TPCO) - Content to Drive Value, 08/20/2019
  Microsoft Acquires PromoteIQ in an attempt to compete with Amazon, 08/20/2019
  Research - Euroseas (ESEA) -Quarterly Results Stabilizing, 08/19/2019
  Can Blockchain Revolutionize the Banking Industry?, 08/19/2019
  Growing Industry: What Should We Look For?, 08/19/2019
  Research - EuroDry (EDRY) - Improving Environment, 08/16/2019
  Research - Sierra Metals (SMTS) - Positioned for Improvement, 08/16/2019
  Research - Onconova Therapeutics (ONTX) - Inflection Points Ahead, 08/15/2019
  Too Busy to Shop? The Rise of Meal Kit Delivery Services, 08/15/2019
  Will owning an Electric Vehicle finally be convenient? , 08/15/2019
  Can consumers positively impact the current economic outlook?, 08/15/2019
  Research - Dyadic International (DYAI) - Data and Additional Partnerships to Expand Further Value, 08/14/2019
  Research - electroCore (ECOR) - Soothing Investors' Migraine a Bit?, 08/14/2019
  Research - Pangaea Logistics (PANL) - Lower 2Q2019 Shipping Days, But Rebound Ahead, 08/14/2019
  Research - ProMIS Neurosciences (PMN:CA) - Strengthening Drug Portfolio by Adding Novel Alzheimer's Antibodies, 08/14/2019
  Research - QuoteMedia, Inc. (QMCI) - Second Quarter Results Indicate Favorable Momentum, 08/14/2019
  Research - Harte Hanks (HHS) - Substantial Progress Made, 08/13/2019
  Research - Pyxis (PXS) - On Track for Rebound, 08/13/2019
  Research - E.W. Scripps (SSP) - A Surprising Reaction , 08/13/2019
  Research - Salem Media (SALM) - Hitting Fast Forward, 08/13/2019
  Can Hong Kong Retain Its Autonomy?, 08/13/2019
  FEATURE: Research | NobleCon | Podcast, 08/12/2019
  Research - Trovagene (TROV) - Inflection Points Later this Year, 08/12/2019
  Research - Endeavor Silver (EXK) - Setting the Stage for Growth, 08/12/2019
  China currency devaluation: Who is this helping?, 08/12/2019
  Research - Genco Shipping (GNK) - A Tough Quarter But Rebound Ahead, 08/09/2019
  Research - Avino Silver & Gold (ASM) - Entering the Second Half with Strong Liquidity and Leverage to Higher Commodity Price, 08/09/2019
  Research - Coeur Mining (CDE) - Momentum Building in the Second Half?, 08/09/2019
  Research - One Stop Systems (OSS) - A Solid 2Q Rebound Sets Up the Second Half of 2019, 08/09/2019
  Research - Cumulus Media (CMLS) - Favorable Cash Flow Picture Provides Confidence In Debt Reduction Target, 08/09/2019
  Research - Harte-Hanks (HHS) - With Progress Comes Increased Confidence In Its Turnaround, 08/09/2019
  Research - The McClatchy Company (MNI) - Significant Progress Toward Maintaining Cash Flow, 08/09/2019
  Research - ACCO Brands (ACCO) - New $100 Million Share Repurchase Authorization Continues Capital Return Theme, 08/08/2019
  Research - IEC Electronics (IEC) - Will they really be able to convert this backlog efficiently?, 08/08/2019
  Research - Orion Group Holdings (ORN) - A Construction Award Bolsters Robust Outlook, 08/08/2019
  Research - Kelly Services (KELYA) - Will the Second Half of 2019 Be Better than the First Half?, 08/08/2019
  Research - TherapeuticsMD (TXMD) - Promising Quarter Signaling to a Positive 2H 2019, 08/08/2019
  Research - Tribune Publishing (TPCO) - Another Beat And Raise; Will Investors Take Notice?, 08/08/2019
  Markets see a slight calm: how long will this last?, 08/08/2019
  Research - Gray Television (GTN) - Advertising Appears Resilient, 08/08/2019
  IPO Podcast - Patrick Drake, 08/08/2019
  Research - DLH Corporation (DLHC) - 3Q Post Call Analysis, 08/07/2019
  Research - Seanergy Maritime (SHIP) - Solid Quarter and Strong Start to 2H2019, 08/07/2019
  Industry Report - Biotechnology Overview, 08/07/2019
  Research - Vectrus (VEC) - Today's Investments Will Pay Off Tomorrow, 08/07/2019
  Research - Entravision Communications (EVC) - Will It Make Headway Fixing Digital?, 08/07/2019
  Research - Townsquare Media (TSQ) - Hitting a Nice Stride, 08/07/2019
  Bull or bear dollar in the near future?, 08/07/2019
  Research - Gray Television (GTN) - A Solid Quarter, 08/07/2019
  Research - ACCO Brands (ACCO) - What Will New Acquisition Mean?, 08/06/2019
  Research - DLH Holdings Corp (DLHC) - What Do 3Q19 Results Tell Us About the Combined Company?, 08/06/2019
  Research - Information Services (III) - Will Back Half of Year Be Better Than First Half?, 08/06/2019
  Research - Energy Fuels (UUUU) - Looking Ahead to Working Group Recommendations Expected in October, 08/06/2019
  Research - 1-800-Flowers.com (FLWS) - The Latest Acquisition Is The Berries, 08/06/2019
  Research - Gannett Company (GCI) - Did Gannett Get The Most It Could?, 08/06/2019
  Research - Genie Energy (GNE) - Earnings Miss Causes Decline in Stock, 08/06/2019
  Research - Ducommun (DCO) - Can Momentum in Commercial Aerospace Outlast 737 MAX Headwinds?, 08/06/2019
  Is Solar Energy the Way of the Future?, 08/05/2019
  What’s the deal with CBD?, 08/05/2019
  How far will plant-based foods go?, 08/02/2019
  What Are the Dangers of the Capital One Data Breach? , 08/02/2019
  Research - Aurania Resources (ARU.V) - Drilling Activity Expected to Accelerate in the Second Half, 08/01/2019
  Research - Prize Mining Corporation (PRZ.V) - Taking Steps to Better Position the Company in the Eyes of Investors, 08/01/2019
  Research - ACCO Brands (ACCO) - A Deeper Dive Into Record 2Q19 Results, 08/01/2019
  Research - Albany International Corp. (AIN) - Woah... Why were aerospace margins so strong this quarter?, 08/01/2019
  Research - Great Lakes Dredge & Dock (GLDD) - Fourth Strong Quarter In A Row. Backlog Rebound Ahead., 08/01/2019
  Research - Orion Group Holdings (ORN) - Rebound Appears Underway Sooner Than Expected, 08/01/2019
  Research - Kratos Defense & Security (KTOS) - Will the Outperformance Continue?, 08/01/2019
  Research - ACCO Brands (ACCO) - Record 2Q Results; What's In-store for the Rest of the Year?, 07/31/2019
  CAR-T Cancer Treatment: Part 3, When Breakthroughs Converge, 07/31/2019
  U.S. second quarter labor costs increases by the smallest amount in 1 ½ years, 07/31/2019
  IPO Podcast - Kathy Ireland, 07/31/2019
  Research - Eagle Bulk Shipping (EGLE) - A Tough Quarter But Set Up for 2H2018 Rebound, 07/30/2019
  Moderate Increase in U.S. Prices and Consumer Spending, 07/30/2019
  Tensions Rise on First Federal Reserve Rate Cut in a Decade, 07/30/2019
  Research - Orion Group Holdings (ORN) - Transition Quarter to Strong Second Half Rebound, 07/29/2019
  Research - Eurodry (EDRY) - Positive Impact from Preferred Changes and Recent Dry Bulk Market Rebound., 07/29/2019
  Research - Great Panther Mining Limited (GPL) - Turning the Corner, 07/29/2019
  Is The IRS Cracking Down On Cryptocurrency? , 07/29/2019
  Research - Kelly Services (KELYA) - Initiating Coverage; A Leading Staffing Company Poised for Additional Growth, 07/29/2019
  Research - Eagle Bulk Shipping (EGLE) - Convert Debt Funds Another Acquisition, Pressures Stock Price, 07/26/2019
  Research - Onconova Therapeutics - Initiation of Coverage, 07/25/2019
  eSports- The Next Big Thing?, 07/25/2019
  Can Micro-Mobility Solve Last-mile Transportation Issues?, 07/24/2019
  Regulatory Overstep? How will MiFID II impact financial markets?, 07/24/2019
  IPO Podcast - Christie Hefner, 07/24/2019
  IPO Podcast Series: Rob Lowe, 07/24/2019
  IPO Podcast Series-1, 07/24/2019
  IPO Podcast Series, 07/24/2019
  Research - ProMIS Neurosciences (PMN:CA) - Amid Skepticism, Light Will Emerge in Alzheimer's Area, 07/23/2019
  Research - Scorpio Bulkers (SALT) - Worst Has Passed and Rebound Underway, 07/23/2019
  Is the transportation sector signaling the next recession?, 07/23/2019
  Research - Seanergy Maritime (SHIP) - Cape Market Moving Sharply Higher, SHIP Should Move Up Too, 07/22/2019
  Cryptocurrency Controversy? Facebook Reveals Libra. , 07/22/2019
  Research - Avino Silver & Gold (ASM) - What is the Expected Impact of Phasing Out San Gonzalo?, 07/19/2019
  IPO Podcast Series: King Bach, 07/19/2019
  Research - Orion Group Holdings (ORN) - Another Project Award Boosts Record Backlog and Reinforces Positive Outlook, 07/18/2019
  Industry Report - Media - Is It Too Early To Bet On Political Advertising?, 07/18/2019
  Deepfakes: Has Artificial Intelligence Gone Too Far?, 07/18/2019
  Media Quarterly Review Q2 2019, 07/18/2019
  Research - Sierra Metals (SMTS) - Will the Momentum Continue?, 07/17/2019
  What’s Up Next for Blockchain?, 07/16/2019
  Metals And Mining Quarterly Review Q2 2019, 07/16/2019
  Energy Quarterly Review Q2 2019, 07/16/2019
  Research - Aurania Resources (ARU.V) - Employing Big Data in the Rainforests of Ecuador, 07/15/2019
  Research - Coeur Mining (CDE) - Will Recent Strength in Gold Prices Benefit Second Half Performance?, 07/15/2019
  Research - Energy Fuels (UUUU) - Section 232 Petition Prompts Working Group for More Study, 07/15/2019
  The Controversial Question: Would You Answer It?, 07/15/2019
  Can These Tech Unicorn Companies Prove Their Worth?, 07/12/2019
  Research - Endeavour Silver (EXK) - A Work In Progress, 07/11/2019
  Research - Great Panther Mining Limited (GPL) - When Will the Valuation Reflect an Improving Growth Outlook?, 07/11/2019
  Research - QuoteMedia Inc. - Initiation Report, 07/11/2019
  News - Are Driverless Vehicles Being Over-Hyped?, 07/10/2019
  Research - DLH Holdings (DLHC) - An Early Look at the Combined DLH and Social & Scientific Systems, 07/10/2019
  Research - Trovagene (TROV) - What does Colorectal Cancer Trial Add?, 07/10/2019
  News - Mission (Im)possible: (Un)druggable RAS?, 07/09/2019
  Research - Vectrus (VEC) - What does Advantor Systems add to Vectrus?, 07/09/2019
  Research - One Stop Systems (OSS) - What Impact Will the $60 Million OEM Agreement Have?, 07/09/2019
  Research - Dyadic (DYAI) - VTT to Continue Validation of C1 Platform in Bioproduction., 07/08/2019
  Fed Rate Cut: Who Does it Affect?, 07/08/2019
  Exploring a New Frontier: 5G Networking, 07/05/2019
  IPO Podcast Series: Kathy Ireland, 07/04/2019
  Research - Entravision Communications (EVC) - Sheds Light on the Matter, 07/03/2019
  Industry Report - Minerals - Are Mining Stocks Poised for a Better Second Half?, 07/03/2019
  Research - Vectrus (VEC) - Named to Another Contract; Massaging Estimate, 07/02/2019
  Industry Report - Energy - The storage numbers tell it all, 07/02/2019
  Big Tech Headed For A Big Breakup? FAANG, 07/02/2019
  Research - Seanergy Maritime (SHIP) - Class C Warrants Expanding Share Count, 07/01/2019
  Peace At Last? U.S.-China Announce Trade Truce, 07/01/2019
  Research - Prize Mining (PRZ) - Charting a Course for Kena Gold Property, 06/28/2019
  IPO Podcast Series: Christie Hefner, 06/27/2019
  News - Wind Energy: Is it efficient enough?, 06/25/2019
  Research - Great Lakes Dredge (GLDD) - More Awards Announced; 2H3019 Backlog Expected, 06/25/2019
  Research - Euroseas (ESEA) - Acquisition and Financing Activity Are Positives, 06/24/2019
  News - CFA, CFP, CPA, CAIA, ChFC, CIPM, OMG when will it end?, 06/21/2019
  FEATURE: NobleCon 16 | Tanker Attack | Research | Podcast, 06/20/2019
  Research - Great Lakes Dredge (GLDD) - Awards Boost Confidence, 06/20/2019
  News - A Chimera for the Treatment of Cancer (Part 2), 06/20/2019
  Research - Endeavour Silver (EXK) - Signs of an Improving Outlook?, 06/19/2019
  Research - TherapeuticsMD (TXMD) - What Investors are Missing, 06/19/2019
  Research - Upgrading the Shares - High Risk but High Upside Potential, 06/17/2019
  News - What will the Persian Gulf attack mean for oil prices?, 06/17/2019
  Research - Aurania Resources - Lessons from Crunchy Hill, 06/14/2019
  Noble Capital Markets’ sixteenth annual investor conference, 06/14/2019
  Research - Cumulus Media (CMLS) - Debt Recovery Should Help Stock, 06/13/2019
  Research - DLH Holdings Corp. (DLHC) - Potential Transformative Factors, 06/13/2019
  Research - KeyW Holding (KEYW) - Jacobs Tender Offer Completed, 06/13/2019
  Research - Townsquare Media (TSQ) - Why is the stock below its peers?, 06/11/2019
  Research - electroCore (ECOR) - ECOR Braves Choppy Waters, 06/11/2019
  Research - Comtech (CMTL) - Can the Current Upswing be Maintained?, 06/07/2019
  News - A Chimera Becomes a Novel Cancer Treatment (Part 1), 06/06/2019
  Research - Comtech (CMTL) - Q3 Delivers Record Backlog, 06/06/2019
  Research - electroCore (ECOR) - Departing Founder and Chief Science and Strategy Officer, 06/05/2019
  Research - Kratos (KTOS) - Price Appreciation Pushes to Market Perform, 06/05/2019
  News - Tariffs Make a Run for the Border, 06/04/2019
  Research - Aurania Resources (ARU.V) - Copper Exploration Yields Encouraging Results, 05/31/2019
  Research - electroCore (ECOR) - Plans to Remove Headwinds, 05/31/2019
  News - The Great Debate: Active or Passive Management?, 05/30/2019
  Research - Euroseas (ESEA) - Price Target Revision, 05/30/2019
  News - Will electric cars stall the demand for oil?, 05/28/2019
  Research - EuroDry (EDRY) - Increasing EBITDA Estimate, 05/28/2019
  Research - Pyxis Tankers (PXS) - Still Looking for a Recovery, 05/24/2019
  Research - Trovagene (TROV) - Agreement with Nektar Therapeutics, 05/24/2019
  Research - McClatchy (MNI) - Raising Our Rating, 05/23/2019
  News - Videogames: The Next Professional Sport, 05/22/2019
  Research - Pangea Logistics (PANL) - New Dividend, 05/21/2019
  Research - Great Panther Silver (GPL) - Reports first quarter loss, 05/17/2019
  Research - Pangaea Logistics (PANL) - Another Solid Quarter; Consistent Business Model, 05/17/2019
  Research - One Stop Systems (OSS) - Files $100 Million Shelf Registration, 05/17/2019
  Research - Entravision (EVC) - Investor Call Highlights, 05/17/2019
  Research - electroCore (ECOR) - Stock price doesn't reflect the value of gammaCore, 05/17/2019
  Research - electroCore (ECOR) - First quarter 2019 results are below expectations, 05/16/2019
  Research - Entravision (EVC) - First quarter 2019 update, 05/16/2019
  Research - Sierra Metals (SMTS) - Reports first quarter loss, 05/15/2019
  Research - ProMIS Neurosciences (PMN:CA) - First quarter 2019 progression, 05/15/2019
  Research - Genco Shipping (GNK) - Adjusting estimates; weak market environment, 05/14/2019
  Research - E.W. Scripps (SSP) - Lowering price target, 05/14/2019
  Research - Avino Silver & Gold (ASM) - First quarter results, updating estimates, 05/13/2019
  News - Will Green Dreams Turn Into Coal’s Nightmare?, 05/13/2019
  Research - Information Services (III) - First quarter 2019 results, 05/13/2019
  Research - Ducommun (DCO) - Rating changed to Market Perform, 05/13/2019
  Research - Energy Fuels (UUUU) - Weaker than expected first quarter results, 05/13/2019
  Research - Seanergy (SHIP) - Rating updated to Market Perform, 05/13/2019
  Research - Salem Media (SALM) - First quarter comes in as expected, 05/13/2019
  Research - Trovagene (TROV) - First quarter 2019 update, 05/10/2019
  Research - Tegna (TGNA) - Raising price target, 05/10/2019
  Research - Dyadic (DYAI) - More deals appear likely., 05/10/2019
  Research - Cumulus Media (CMLS) - First quarter over delivers, 05/10/2019
  Research - One Stop Systems (OSS) - First quarter revenue miss, 05/10/2019
  Research - Gray Television (GTN) - Exceeds Q1 Expectations, 05/09/2019
  Research - Eagle Bulk Shipping (EGLE) - Another solid quarter of outperformance, 05/09/2019
  Research - DLH (DLHC) - Tweaking estimates slightly, 05/09/2019
  Research - IEC Electronics (IEC) - Delivering Consistent Organic Growth, 05/09/2019
  Research - Harte-Hanks (HHS) - First quarter 2019 update, 05/09/2019
  Research - Tribune Publishing (TPCO) - First quarter better than expected, 05/09/2019
  Research - Kratos Defense (KTOS) - 1Q19 Above Expectations, 05/09/2019
  Research - Townsquare Media (TSQ) - Digital business flourishes, 05/08/2019
  Research - Vectrus (VEC) - First quarter 2019 update, 05/08/2019
  Research - electroCore (ECOR) - Initiation of Coverage, 05/08/2019
  News - Cell Cycle Regulators as Cancer Therapeutics, 05/08/2019
  Research - Dyadic (DYAI) - Another licensing agreement, 05/08/2019
  Research - Entravision (EVC) - Update on full year 2018 results, 05/08/2019
  Research - KeyW (KEYW) - First quarter 2019 results, 05/08/2019
  Research - DLH Holdings (DLHC) - Second quarter 2019 Review, 05/08/2019
  Research - TherapeuticsMD (TXMD) - First quarter 2019 earnings update, 05/07/2019
  Research - Ducommun (DCO) - First quarter 2019 review, 05/07/2019
  Research - Endeavour Silver (EXK) - Rating lowered to Market Perform, 05/07/2019
  Research - Genie Energy (GNE) - Increasing estimates; strong results, 05/07/2019
  Research - Coeur Mining (CDE) - Review of first quarter 2019, 05/03/2019
  Research - ACCO Brands (ACCO) - Raising price target, 05/03/2019
  News - Game of Thrones: Energy Battles, 05/03/2019
  Research - Aurania Resources (ARU.V) - Drilling results analysis, 05/03/2019
  Research - Albany International (AIN) - First quarter 2019 review, 05/02/2019
  Research - Great Lakes Dredge & Dock (GLDD) - Strong third quarter, 05/01/2019
  Research - 1-800-Flowers.com (FLWS) - Fiscal 3Q19 Update, 05/01/2019
  Research - Comtech (CMTL) - Analysis of new contract and acquisition, 04/30/2019
  Research - Scorpio Bulkers (SALT) - First Quarter 2019 Review, 04/30/2019
  Research - Dyadic (DYAI) - Expanding partnership portfolio, 04/30/2019
  Research - TherapeuticsMD (TXMD) - Assumption of Coverage, 04/29/2019
  Research - Coeur Mining (CDE) - Updating estimates, 04/26/2019
  Research - Genprex (GNPX) - Initiation of Coverage, 04/26/2019
  News - Tax Cuts and Jobs Act: Are we better off?, 04/26/2019
  News - Blockchain for Business: Worth the Hype?, 04/25/2019
  Research - KeyW (KEYW) - Announces Definitive Merger Agreement, 04/23/2019
  Research - Aurania Resources (ARU:CA) - Appoints new CFO, 04/23/2019
  News - Uranium Imports: Trade War Goes Nuclear, 04/22/2019
  News - Does A 70% Top Marginal Tax Rate Make Sense?, 04/18/2019
  News - Boeing 737 MAX: Is it safe to fly? , 04/17/2019
  Research - Avino Silver & Gold (ASM) - Mine exploration provides optimism, 04/17/2019
  Research - Sierra Metals (SMTS) - Full year projection estimates, 04/17/2019
  Research - Vectrus (VEC) - Award is a big win, 04/17/2019
  IPO Podcast Series: Drug Disruption, 04/16/2019
  Research - Cumulus Media (CMLS) - , 04/16/2019
  Research - Coeur Mining (CDE) - First quarter production results, 04/15/2019
  Research - Endeavour Silver (EXK) - Waiting for a turnaround, 04/15/2019
  Research - Dyadic (DYAI) - Nasdaq Up-Listing Approved, 04/15/2019
  Research - Scorpio Bulkers (SALT) - Liquidity boost; adjusting estimates, 04/12/2019
  Research - Great Panther Silver (GPL) - Production numbers slightly lower than expected, 04/11/2019
  Research - Aurania Resources (ARU:CA) - Another promising copper target, 04/10/2019
  News - Could renewables supply 50% of all generation? How about 80%?, 04/05/2019
  Research - One Stop Systems (OSS) - Initiation of Research Coverage, 04/04/2019
  News - Stock Buybacks: Good, evil, or maybe something in between?, 04/03/2019
  Research - Prize Mining (PRZ:CA) - Behind the recent deal, 04/03/2019
  Research - Aurania Resources (ARU:CA) - Updates on copper production, 04/03/2019
  News - Macular Edema: The search for the cure continues, 04/02/2019
  Research - Trovagene (TROV) - Update on data readout, 04/02/2019
  Research - Trovagene (TROV) - Updated prostate cancer data, 04/02/2019
  Research - Sierra Metals (SMTS) - 2018 full year recap, 04/01/2019
  Research - Albany International (AIN) - Appoints new CFO, 04/01/2019
  Research - Pyxis Tankers (PXS) - 2018 financial update, 03/29/2019
  Research - Dyadic (DYAI) - 2018 full year update, 03/28/2019
  Podcast Launch: The Science of Investing in Biotechs, 03/28/2019
  A Video Introduction to Enochian Biosciences, 03/28/2019
  Official Trailer: NEW Podcast Series- Icons of Business, Leaders of Emerging Companies, 03/26/2019
  Research - Information Services (III) - Favorable risk/reward moving forward, 03/25/2019
  Research - Torchlight Energy - Strong updates on project estimates, 03/25/2019
  Research - 1-800-Flowers.com (FLWS) - Investor Day Highlights, 03/25/2019
  Research - Prize Mining (PRZ:CA) - Initiation of Research Coverage, 03/25/2019
  News - The Case for Dr. Copper: New Sources of Demand are Positive for Copper, 03/25/2019
  Research - Cumulus Media (CMLS) -- Raising Price Target, 03/22/2019
  Research - Pangaea Logistics (PANL) - Business Model/Strategy Shine, 03/22/2019
  Research - Seanergy (SHIP) - What do the results show?, 03/21/2019
  Research - E.W. Scripps - Analysis of recent acquisitions, 03/21/2019
  Research - ProMIS Neurosciences (PMN:CA) - Potential opportunity in Alzheimer's , 03/21/2019
  Research - Genie Energy (GNE) - Initiation Report, 03/20/2019
  Research - E.W. Scripps (SSP) - Acquiring stations, building portfolio, 03/20/2019
  Research - Tegna (TGNA) - Acquisition highlights, 03/20/2019
  Research - Information Services (III) - 2019 growth possibilities, 03/18/2019
  Research - Tribune Publishing (TPCO) - Behind the numbers , 03/18/2019
  Research - Harte-Hanks (HHS) - The focus towards growth, 03/15/2019
  Research - Information Services (III) - Q4 review; the full story, 03/15/2019
  News - Artificial Intelligence: Can an algorithm do what you do?, 03/14/2019
  Research - Townsquare Media (TSQ) - Quarter over delivers, 03/14/2019
  Research - Tribune Publishing (TPCO) - Looking forward into 2019, 03/14/2019
  Research - KeyW (KEYW) - What will drive 2019 performance?, 03/13/2019
  Research - Townsquare Media (TSQ) - Revenues surprise, 03/13/2019
  Research - Salem Media (SALM) - Looking past the first quarter 2019, 03/13/2019
  Research - Energy Fuels (UUUU) - Updating estimates, 03/13/2019
  News - CRISPR-Cas9: Editing away sickness, 03/13/2019
  Research - Gannett (GCI) - Favorable risk/reward, 03/12/2019
  Research - Comtech Telecommunications (CMTL) - Deeper dive in 2Q19 results, 03/12/2019
  Research - Euroseas (ESEA) - Lowering Price Target, 03/12/2019
  Research - Aurania Resources (ARU:CA) - New drilling has commenced, Funding secured, 03/11/2019
  Research - Great Lakes Dredge (GLDD) - Investor Meeting Highlights, 03/11/2019
  News - Green New Deal: Environment Savior or Economy Destroyer?, 03/08/2019
  Research - McClatchy (MNI) - Outlook for 2019, 03/08/2019
  Research - Trovagene (TROV) - 2018 full year update, 03/08/2019
  News - Do We Need to Prepare for War in Space?, 03/07/2019
  Research - Eagle Shipping (EGLE) - Long-term outlook positive, 03/07/2019
  Research - Comtech (CMTL) - Exceeds 2Q quarterly expectations, 03/07/2019
  Research - Kratos Defense (KTOS) - Drone prospect takes flight, 03/07/2019
  News - DNA Data Storage: The Future of Informatics, 03/06/2019
  Research - Genco Shipping (GNK) - 4Q18 Results Surprise , 03/06/2019
  Research - E.W. Scripps (SSP) - Raising Price Target, 03/05/2019
  NobleConXV Panel - Marketing Early-Stage Natural Resource Companies to Investors, 03/05/2019
  Research - Tegna (TGNA) - Looking towards subscriber growth in 2019, 03/04/2019
  Research - Great Panther Silver (GPL) - Expectations in line, 03/04/2019
  Research - Kratos Defense (KTOS) - Acquisition announced, 03/01/2019
  Research - Gray Television (GTN) - 2018 full year results, 03/01/2019
  Research - Avino Silver (ASM) - Increasing 2019 estimates, 03/01/2019
  Research - Ducommun (DCO) - 2018, the inflection year, 03/01/2019
  News - Merger Mania Hits the Mining Space, 03/01/2019
  News - Electric Cars: Time to plug in?, 02/28/2019
  News - Could the US Have More Oil than the Saudis?!, 02/27/2019
  News - Cannabiz: Growing Like a Weed, 02/26/2019
  Research - Cumulus Media (CMLS) - Earnings preview, 02/26/2019
  News - Legalizing Sports Gambling: Place Your Bets, 02/25/2019
  News - Alzheimer’s, Cannibals, and the Scientist Who Saw the Connection, 02/22/2019
  Research - Cumulus Media (CMLS) - Raising price target, 02/14/2019
  News - High-yield bonds: Trash or Treasure?, 02/13/2019
  News - Trump vs Obama: Who did the first two years better?, 02/12/2019
  A MUST WATCH - panel of key opinion leaders - a cure for diabetes, 02/11/2019
  The business of cannabis - WATCH an industry panel break it all down, 02/11/2019
  WORTH READING - Electric Cars, OPEC Today, FED Impact, 02/11/2019
  Channelchek in Forbes - referenced as a gatekeeper for emerging growth companies, 02/11/2019
  NobleConXV Keynote Address, 02/05/2019
  NobleConXV Webcasts, 02/04/2019
  News - The Great Wall of America, 01/24/2019
  News - Is OPEC still king of oil?, 01/24/2019
  News - End of an Era: Sears Struggles to Survive, 01/23/2019
  News - Buybacks: Who benefits?, 01/21/2019
  News - Robinhood: Could it steal customers from the banks?, 12/31/2018
  News - Holiday Havoc: Why December turned into a tough time for investors, 12/27/2018
  News - The Fed raised its rates, now what?, 12/19/2018
  News - Polo-like kinases inhibitors are novel drug targets of cancer therapeutics, 12/14/2018
  News - Can manufacturing keep up with demand for biologic drugs?, 12/04/2018
  News - HIV - Could there be a cure?, 12/01/2018
  News - Gold - Trending Up?, 11/27/2018
  Welcome to Channelchek video, 11/20/2018
  News - Cancer - Harnessing the power of immune system, 11/15/2018
  News - Cancer - Gene therapy, what the future holds, 11/15/2018
  News - Alzheimer’s - The race to a better treatment, 11/15/2018
  News - Trump – Is he right to withdraw from INF?, 11/15/2018
  News - Cancer – Is combination therapy the answer?, 11/15/2018
My Favorites
Movers