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Why GigaCloud Technology Inc. (GCT) Dipped More Than Broader Market Today – Yahoo Finance

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GigaCloud Technology Inc. (GCT) closed at $31.02 in the latest trading session, marking a -1.8% move from the prior day. This change lagged the S&P 500's daily loss of 0.95%. Meanwhile, the Dow lost 1.09%, and the Nasdaq, a tech-heavy index, lost 0.84%.
Coming into today, shares of the company had lost 14.25% in the past month. In that same time, the Business Services sector lost 0.45%, while the S&P 500 gained 1.78%.
The investment community will be paying close attention to the earnings performance of GigaCloud Technology Inc. in its upcoming release. The company's earnings per share (EPS) are projected to be $0.51, reflecting a 30.77% increase from the same quarter last year. At the same time, our most recent consensus estimate is projecting a revenue of $235 million, reflecting an 83.88% rise from the equivalent quarter last year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $2.58 per share and a revenue of $1.11 billion, signifying shifts of +12.17% and +57.07%, respectively, from the last year.
Investors should also note any recent changes to analyst estimates for GigaCloud Technology Inc. Recent revisions tend to reflect the latest near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 15.69% higher. GigaCloud Technology Inc. currently has a Zacks Rank of #1 (Strong Buy).
Valuation is also important, so investors should note that GigaCloud Technology Inc. has a Forward P/E ratio of 12.24 right now. This signifies a discount in comparison to the average Forward P/E of 24.6 for its industry.
The Technology Services industry is part of the Business Services sector. This group has a Zacks Industry Rank of 95, putting it in the top 38% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
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In the most recent trading session, Twilio (TWLO) closed at $61.33, indicating a -0.84% shift from the previous trading day.
SHANGHAI (Reuters) -China's securities regulator issued draft rules on Friday to strengthen the supervision of company listings, delistings and computer-driven programme trading, in a move to improve the stock market and protect investors' interests. The China Securities Regulatory Commission (CSRC) will raise the bar for initial public offerings (IPOs), force unqualified companies to delist, and strengthen the oversight of high-frequency trading, according to draft rules put out for public opinion.
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Regulator: “Harmful” Web Design Could Break Data Protection Laws – Infosecurity Magazine

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UK / EMEA News Reporter, Infosecurity Magazine
The Information Commissioner’s Office (ICO) has warned UK companies that it will take enforcement action against those that use website design tricks to encourage consumers to hand over excessive amounts of personal information.
The data protection regulator teamed up with the Competition and Markets Authority (CMA) to publish a new position paper yesterday: Harmful design in digital markets: How online choice architecture practices can undermine consumer choice and control over personal information.
It sets out the main pitfalls of harmful web design and what organizations should be doing instead.
ICO executive director of regulatory risk, Stephen Almond, argued that some of these design practices are extremely subtle and may have gone on for some time across thousands of websites.
Read more on web design: UX Design is Key to Creating Privacy Controls that Unlock Value
However, if they trick users into giving away more data than they would otherwise, such practices may break data protection laws.
“These website design tricks can have real and negative impacts on consumers’ lives. For example, if someone is recovering from a gambling problem, being steered to ‘accept all’ cookies can mean being continually bombarded with betting adverts, which could be incredibly harmful,” Almond added.
“We want to make consumers aware of these potentially harmful techniques to help them protect their data online – and, if necessary, make informed choices about which websites they choose to frequent. Businesses should take note that if they deliberately and persistently choose to design their websites in an unfair and dishonest way, the ICO will not hesitate to take necessary enforcement action.”
Among the things the ICO and CMA want to stamp out are:
The ICO/CMA report urges companies to put users at the heart of their design choices, empowering them with choice and control. Organizations should also test and trial any new design choices and always consider the data protection, consumer and competition law implications of new practices, it says.

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UofL, partners land $1 million to advance manufacturing technology – uoflnews.com

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The University of Louisville and partners have been awarded $1 million from the National Science Foundation to accelerate manufacturing innovation throughout Kentucky and surrounding regions.
Funding for the project, dubbed Advancing Manufacturing and Building Construction Technologies (NSF AMT), comes via an NSF Engines Development award through the NSF Regional Innovation Engines program, setting them up to pursue an NSF Engine award of up to $160 million – the largest award ever offered by the NSF. AMT is led by the Kentucky Science and Technology Corporation (KSTC), and core partners include UofL, the Kentucky Community and Technical College System and trade organizations, such as ASTRO America.
“When Kentucky’s businesses are able to leverage groundbreaking innovations from our leading institutions, like the University of Louisville, our entire economy stands to gain,” said U.S. Senator Mitch McConnell, who helped secure the funding for the AMT coalition.
Together, the partners will develop a regional plan to improve use of and innovation in additive manufacturing technology, also known as 3-D printing, which can help manufacturers reduce part lead times, material costs, energy usage and waste. Louisville alone is home to more than 2,400 manufacturing firms in areas ranging from food and beverage to automotive, with a total workforce of more than 82,500. 
“By focusing on advancing sustainable additive manufacturing technologies, this project has the potential to support expansion and attract companies and additional high-wage, high-skilled jobs for our commonwealth,” said Kentucky Gov. Andy Beshear. “These kinds of initiatives add to the remarkable strides being made by Kentucky’s entrepreneurs, companies and colleges and universities toward building our state’s future economy. Congratulations to the AMT team for securing this award and both demonstrating and improving Kentucky’s competitiveness and capacity for research and innovation.”
As part of NSF AMT, UofL will leverage its top-notch degree and technology badging programs to build a qualified workforce and its research and innovation strength to further technological innovation. This includes connection to the UofL-based Kentucky Manufacturing Extension Partnership (KY-MEP) statewide resource center, along with labs, including the multi-disciplinary Additive Manufacturing Institute of Science & Technology. Over the next year, UofL also will host a series of events, workshops and demonstrations to engage businesses and showcase the potential of additive manufacturing.
“The innovative research we produce at UofL becomes most meaningful when applied to advancements that improve our community,” said UofL President Kim Schatzel. “We’re proud to continue working with our partners to translate our additive manufacturing knowledge into solutions that revolutionize the way we manufacture everything from medication to computer chips.”
UofL and partners also were recently awarded a $1 million NSF Engines Development grant, dubbed Generate Advanced Manufacturing Excellence for Change (GAME Change), aimed at securing economic competitiveness throughout the Southeastern Commerce Corridor (SCC) of Kentucky and Tennessee, with a focus on next-generation and advanced manufacturing, supply chain and logistics, more durable and sustainable materials and more. NSF Engines Development awards are meant to help applicants prepare for an NSF Engines proposal. 
“UofL is committed to empowering small and medium enterprises in our region with the latest advancements in additive manufacturing,” said Will Metcalf, UofL associate vice president for research and innovation and partner on NSF AMT. “Through our NSF Engines Development award and other efforts, we will engage in training and outreach to help these businesses thrive in an increasingly competitive market.”
Launched by NSF’s new Directorate for Technology, Innovation and Partnerships and authorized by the “CHIPS and Science Act of 2022,” the NSF Engines program uniquely harnesses the nation’s science and technology research and development enterprise and regional-level resources. NSF Engines aspire to catalyze robust partnerships to positively impact regional economies, accelerate technology development, address societal challenges, advance national competitiveness and create local, high-wage jobs.
“We are eager to continue the work and build upon the partnerships we developed as part of our initial NSF Engines proposal through this  award,” said KSTC President Terry Samuel. “It is a testament to the importance and potential of both our region and additive manufacturing technologies.”

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Tech News: Patriot Software launches 1099 portal – Accounting Today

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Patriot Software launches 1099 portal; Expensify launches Expensify Travel; Sage launches two new integrated suites in U.K. and Canada; and other accounting technology updates.
SMBs and their financial advisors have deep concerns about the impact of bribery and corruption, according to a new survey.
The National Pipeline Advisory Group identified six recommendations based on survey data to a address accounting’s talent shortage, including rethinking CPA licensure requirements.
Tax professionals will need to take extra steps to get access to certain systems and information.
U.K.-based IRIS Software announced its acquisition of Swipeclock, the Utah-based maker of solutions WorkforceHub and ApplicantStack.
The Internal Revenue Service published final regulations officially lowering the fees for new Preparer Tax Identification Numbers and renewed PTINs.
The Internal Revenue Service cautioned consumers to beware of inaccurate advice which prompted thousands of taxpayers to file overblown claims and held up their refunds.
Accounting Today is a leading provider of online business news for the accounting community, offering breaking news, in-depth features, and a host of resources and services.

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