Chek the Channels
Companies by Sector
Meet 125 Mgmt Teams
ChannelCASTS
Company
Title
Enochian BioSciences Inc
Introduction
Salem Media Group Inc.
Salem Media Group at NobleCon
Aurania Resources Ltd.
NobleConXV
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
QuoteMedia Inc.
NobleCon XV
IEC Electronics Corp.
IEC Electronics at NobleConXV
Sierra Metals Inc.
Sierra Metals Inc. at NobleConXV
Endeavour Silver Corporation (Canada)
Endeavour Silver Corporation at NobleConXV
Torchlight Energy Resources Inc.
Torchlight Energy Resources, Inc. at NobleConXV
Eagle Bulk Shipping Inc.
Eagle Bulk Shipping at NobleConXV
Genco Shipping & Trading Limited New (Marshall Islands)
Genco Shipping & Trading Limited at NobleConXV
TrovaGene Inc.
TrovaGene 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
Great Lakes Dredge & Dock Corporation
Great Lakes Dredge & Dock Corporation at NobleConXV
Comtech Telecommunications Corp.
Comtech Telecommunications Corp. at NobleConXV
Pyxis Tankers Inc.
Pyxis Tankers Inc. at NobleConXV
One Stop Systems Inc.
NobleConXV
Pangaea Logistics Solutions Ltd.
Pangaea Logistics Solutions Ltd. at NobleConXV
electroCore Inc.
NobleConXV
Great Panther Silver Limited (Canada)
Great Panther Silver at NobleConXV
Seanergy Maritime Holdings Corp
Seanergy Maritime Holdings at NobleConXV
Dyadic Intl Inc
Dyadic International at NobleConXV
The Long Story Short - The Share Buyback Controversy: What you need to know
Share  
 

Who benefits from stock repurchases, the investors or the executives?

(Note: companies that could be impacted by the content of this article are listed at the base of the story (desktop version). This article uses third-party references to provide a bullish, bearish and balanced point of view; sources listed in the "Balanced" section)

Stock buybacks are on the rise and there are concerns over the effectiveness. It is even becoming a Political issue. Share buybacks, also known as stock repurchases, are when corporations purchase its own shares in the open stock market, reducing the total number of shares outstanding. The result of the buyback could increase earnings per share and increase return on equity, possibly increasing the stock price. 2018 was an all-time, record year for buybacks, with $1.1 trillion in announcements and some $800 billion repurchased during the year. Reasons have been postulated about why the pace of buybacks has increased over the years, including the generation of significant free cash flow by companies, muted organic investment opportunities, a lack of accretive acquisitions, as a means of boosting EPS by reducing the share count. Notably, stock repurchases were illegal until 1982 and Congress is looking at curbing the exercise as a means of narrowing the growing income inequality in America and advocating an element of social responsibility. Senators Charles Schumer and Bernie Sanders penned an op-ed in the New York Times arguing that, “corporate boardrooms have become obsessed with maximizing only shareholder earnings to the detriment of workers.” The pair suggest they will introduce legislation to limit buybacks unless companies meet certain conditions, including a $15 per hour minimum wage, providing workers with decent pensions, and solid health benefits, among other things.


S&P 500 Firms Are a Small Subset of the Overall Economy. To properly assess the impact of buybacks on the health of the U.S. economy, one must look at the effect on all companies, not just S&P 500 companies. S&P 500 firms account for less than 50% of business profits and less than 20% of employment. Funds received from buybacks by shareholders of S&P 500 companies does not go down a black hole. Instead much of the cash is used to invest in smaller public and private companies, supporting innovation and job growth. In fact, private firms account for more than 50% of nonresidential fixed investment, employ almost 70% of U.S. workers, and generate nearly half of all business profits.

Executives Make Up a Tiny Portion of the Wealthy. S&P 500 executives make up a tiny portion of the top 0.1% of the U.S. Economy (about 120,000 households) and account for an even smaller portion of the top 1% (about 1.2 million households). Even if shareholder payouts boosted each executives pay by 20% per year, it would barely cause a budge in inequality.

Buybacks Do Not Crowd Out Other Investment. While it is true that from 2007-2016 outflows for buybacks and dividends represented some 96% of S&P 500 companies’ net income, this analysis ignores the amount of capital raised through share issuance over the period. Adjusting for capital raising reduces these payouts to just 50% of net income.

Stock Ownership is Widespread. According to the Federal Reserve Bank of St. Louis, the share of middle-aged households with direct or indirect stock holdings rose from 40% in 1989 to 61% in 2001 and since then has fluctuated between 57% and 62%. Therefore, any benefits in terms of share price increase from buybacks benefits a significant number of people, not just executives.

Capital Expenditures Continue to Grow. Strategas Research Partners estimate that capital expenditures by S&P 500 companies grew $75 billion in 2018, the fourth largest annual gain since 1991.

Rise of Technology and Health-care Companies as Percentage of S&P 500 Distorts Old Measurement Techniques. Due to accounting rules, R&D expenditures, the primary capital expense of Technology and Health-care companies, are treated as operating expenses, not capital expenditures, depressing the reported capital expenditure amount of S&P 500 companies.

Buybacks Being Utilized by Firms With Low Expected Growth. According to research by Aswath Damodaran, approximately 60% of companies earn less than their cost of capital. Such firms should be returning capital to shareholders. Damodaran also found that the biggest buybacks are for companies that have the lowest expected growth in revenues. Again, slower growing companies with muted re-investment prospects should be returning capital to shareholders.

Workers at Large Buyback Firms Typically Earn Higher Than Average Wages. Damodaran again, “The workers at firms that buy back the most stock tend to be already among the better paid in the economy, and tying buybacks to higher wages for these workers will not help those who are at the bottom of the pay scale.”


Buybacks Reflect Short-term Thinking. Critics claim buybacks are used to game the next earnings report to appease Wall Street and to juice executive compensation metrics.

Buybacks Benefit Executives. Stock-based instruments make up the majority of executives’ pay and with buybacks providing short-term boosts to stock prices, buybacks will provide excess compensation to executives. In 2012, 42% of the compensation of the highest paid S&P 500 executives came from stock options and 41% from stock awards.

Buybacks Shortchange Investment. From 2007 through 2016 S&P 500 firms paid out $7 trillion to shareholders - $4.2 trillion through buybacks and $2.8 trillion through dividends, representing some 96% of net income. Researchers at Deloitte point out that buybacks and dividends have soared as a share of GDP whereas investment in equipment and infrastructure has remained stagnant.

Buybacks Negatively Impact R&D. According to a 2015 study by U.S. economist Heitor Almeida, share buybacks can have a detrimental effect on research and development spending.

Buybacks are Reducing the Number of Listed Firms. There are half as many listed firms in the U.S. than 20 years ago, largely due to buybacks. U.S. capitalism is gradually becoming non-quoted.

Employees suffer. An analysis of companies on the Russell 1000 Index found that companies directed 10 times as much money to buybacks as to workers. Growth in employee wages has been slow and sporadic, with the 1998-2000 time frame the only period in the last 46 years when real wages rose by 2% or more for three consecutive years.


Bringing the heat. The case of corporate buybacks generates heated discussion on both sides. Nonetheless, let’s leave the final words to Warren Buffett. At the 2004 Berkshire Hathaway annual meeting Buffett said, “When stock can be bought below a business’s value it is probably the best use of cash.” According to the Oracle of Omaha, buybacks, when done right are a value investment. Anytime you can buy stock for less than it’s worth, it’s advantageous to the continuing shareholders, but it should be by a demonstrable margin. Back in 2004, Mr. Buffett stated, “The best use of cash, if there is not another good use for it in business, if the stock is underpriced is a repurchase.”

 

Sources:

Stock buybacks hit a record $1.1 trillion, and the year’s not over, Bob Pisani, CNBC, December 18, 2018

Schumer, Sanders to introduce bill limiting stock buybacks, pushing for $15 minimum wage, Owen Daugherty, February 4, 2019

Are Buybacks Really Shortchanging Investment?, Jesse M. Fried and Charles C.Y. Wang, Harvard Business Review, March 2018

Share Buybacks: Mismeasured and Misunderstood, Derek Bonett, CATO Institute, November 30, 2018

How Has Stock Ownership Trended in the Past Few Decades?, B. Ravikumar, St. Louis Federal Reserve Bank, April 9, 2018

The Stock Buyback Panic, Wall Street Journal - Editorial Board, March 10, 2019

Aswath Damodaran Blog

Why the buyback boom is a bad sign, Joe Cahill, Crain’s Chicago Business, December 19, 2018

Are Stock Buybacks Starving the Economy?, Annie Lowrey, The Atlantic, July 31, 2018

Share buybacks: good, bad or ugly?, The Business Times, April 4, 2018

Warren Buffett explains the enduring power of stock buybacks for long-term investors, Eric Rosenbaum, September 1, 2018


Company Ticker Price Previous Mkt Cap Volume 52wk Range
Vectrus Inc.
VEC (NYSE)
$41.55
$41.55 (0.00%)
$478.08M
1.00
$19.61 - $46.51
Fundamental Analysis
Rating Refer to Research Report
The KEYW Holding Corporation
KEYW (NGS)
0
0
0
$6.12 - $11.53
Fundamental Analysis
Rating Refer to Research Report
Kratos Defense & Security Solutions Inc.
KTOS (NGS)
$21.05
$21.05 (0.00%)
$2.23B
529.00
$11.91 - $25.08
Fundamental Analysis
Rating Refer to Research Report
Information Services Group Inc.
III (Nasdaq)
$2.75
$2.75 (0.00%)
$130.30M
2.00
$2.19 - $5.09
Fundamental Analysis
Rating Refer to Research Report
DLH Holdings Corp.
DLHC (Nasdaq)
$4.23
$4.23 (0.00%)
$50.91M
0
$3.66 - $6.78
Fundamental Analysis
Rating Refer to Research Report
Comtech Telecommunications Corp.
CMTL (NGS)
$29.41
$29.41 (0.00%)
$709.89M
1.00
$20.95 - $36.94
Fundamental Analysis
Rating Refer to Research Report
Acco Brands Corporation
ACCO (NYSE)
$9.57
$9.57 (0.00%)
$936.96M
4.00
$6.07 - $12.15
Fundamental Analysis
Rating Refer to Research Report
NEWS Channel
  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
  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
  Today's Feature, 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