Not exact matches
Important factors that could cause actual results to differ materially from those reflected in such forward - looking statements and that should be considered in evaluating our outlook include, but are not limited to, the following: 1) our ability to continue to grow our business and execute our growth strategy, including the timing, execution, and profitability of new and maturing programs; 2) our ability to perform our obligations under our new and maturing commercial, business aircraft, and military development programs, and the related recurring production; 3) our ability to accurately estimate and manage performance, cost, and revenue under our contracts, including our ability to achieve certain cost reductions with respect to the B787 program; 4) margin pressures and the potential for additional forward losses on new and maturing programs; 5) our ability to accommodate, and the cost of accommodating, announced increases in the build rates of certain aircraft; 6) the effect on aircraft demand and build rates of
changing customer preferences for business aircraft, including the effect of global economic
conditions on the business aircraft
market and expanding conflicts or political unrest in the Middle East or Asia; 7) customer cancellations or deferrals as a result of global economic uncertainty or otherwise; 8) the effect of economic
conditions in the industries and
markets in which we operate in the U.S. and globally and any
changes therein, including fluctuations in foreign currency exchange rates; 9) the success and timely execution of key milestones such as the receipt of necessary regulatory approvals, including our ability to obtain in a timely fashion any required regulatory or other third party approvals for the consummation of our announced acquisition of Asco, and customer adherence to their announced schedules; 10) our ability to successfully negotiate, or re-negotiate, future pricing under our supply agreements with Boeing and our other customers; 11) our ability to enter into profitable supply arrangements with additional customers; 12) the ability of all parties to satisfy their performance requirements under existing supply contracts with our two major customers, Boeing and Airbus, and other customers, and the risk of nonpayment by such customers; 13) any adverse impact on Boeing's and Airbus» production of aircraft resulting from cancellations, deferrals, or reduced orders by their customers or from labor disputes, domestic or international hostilities, or acts of terrorism; 14) any adverse impact on the demand for air travel or our operations from the outbreak of diseases or epidemic or pandemic outbreaks; 15) our ability to avoid or recover from cyber-based or other security attacks, information technology failures, or other disruptions; 16) returns on pension plan assets and the impact of future discount rate
changes on pension obligations; 17) our ability to borrow additional funds or refinance debt, including our ability to obtain the debt to finance the purchase price for our announced acquisition of Asco on favorable terms or at all; 18) competition from commercial aerospace original equipment manufacturers and other aerostructures suppliers; 19) the effect of governmental laws, such as U.S. export control laws and U.S. and foreign anti-bribery laws such as the Foreign Corrupt Practices Act and the United Kingdom Bribery Act, and environmental laws and agency regulations, both in the U.S. and abroad; 20) the effect of
changes in tax law, such as the effect of The Tax Cuts and Jobs Act (the «TCJA») that was enacted on December 22, 2017, and
changes to the interpretations of or guidance related thereto, and the Company's ability to accurately calculate and estimate the effect of such
changes; 21) any reduction in our credit ratings; 22) our dependence on our suppliers, as well as the cost and availability of raw materials and purchased components; 23) our ability to recruit and retain a critical mass of highly - skilled employees and our relationships with the unions representing many of our employees; 24) spending by the U.S. and other governments on defense; 25) the possibility that our cash flows and our credit facility may not be adequate for our additional capital needs or for payment of interest on, and principal of, our indebtedness; 26) our exposure under our revolving credit facility to higher interest payments should interest rates increase substantially; 27) the effectiveness of any interest rate hedging programs; 28) the effectiveness of our internal control over
financial reporting; 29) the outcome or impact of ongoing or future litigation, claims, and regulatory actions; 30) exposure to potential product liability and warranty claims; 31) our ability to effectively assess, manage and integrate acquisitions that we pursue, including our ability to successfully integrate the Asco business and generate synergies and other cost savings; 32) our ability to consummate our announced acquisition of Asco in a timely matter while avoiding any unexpected costs, charges, expenses, adverse
changes to business relationships and other business disruptions for ourselves and Asco as a result of the acquisition; 33) our ability to continue selling certain receivables through our supplier financing program; 34) the risks of doing business internationally, including fluctuations in foreign current exchange rates, impositions of tariffs or embargoes, compliance with foreign laws, and domestic and foreign government policies; and 35) our ability to complete the proposed accelerated stock repurchase plan, among other things.
Actual operational and
financial results of SkyWest, SkyWest Airlines and ExpressJet will likely also vary, and may vary materially, from those anticipated, estimated, projected or expected for a number of other reasons, including, in addition to those identified above: the challenges and costs of integrating operations and realizing anticipated synergies and other benefits from the acquisition of ExpressJet; the challenges of competing successfully in a highly competitive and rapidly
changing industry; developments associated with fluctuations in the economy and the demand for air travel; the
financial stability of SkyWest's major partners and any potential impact of their
financial condition on the operations of SkyWest, SkyWest Airlines, or ExpressJet; fluctuations in flight schedules, which are determined by the major partners for whom SkyWest's operating airlines conduct flight operations; variations in
market and economic
conditions; significant aircraft lease and debt commitments; residual aircraft values and related impairment charges; labor relations and costs; the impact of global instability; rapidly fluctuating fuel costs, and potential fuel shortages; the impact of weather - related or other natural disasters on air travel and airline costs; aircraft deliveries; the ability to attract and retain qualified pilots and other unanticipated factors.
Such risks, uncertainties and other factors include, without limitation: (1) the effect of economic
conditions in the industries and
markets in which United Technologies and Rockwell Collins operate in the U.S. and globally and any
changes therein, including
financial market conditions, fluctuations in commodity prices, interest rates and foreign currency exchange rates, levels of end
market demand in construction and in both the commercial and defense segments of the aerospace industry, levels of air travel,
financial condition of commercial airlines, the impact of weather
conditions and natural disasters and the
financial condition of our customers and suppliers; (2) challenges in the development, production, delivery, support, performance and realization of the anticipated benefits of advanced technologies and new products and services; (3) the scope, nature, impact or timing of acquisition and divestiture or restructuring activity, including the pending acquisition of Rockwell Collins, including among other things integration of acquired businesses into United Technologies» existing businesses and realization of synergies and opportunities for growth and innovation; (4) future timing and levels of indebtedness, including indebtedness expected to be incurred by United Technologies in connection with the pending Rockwell Collins acquisition, and capital spending and research and development spending, including in connection with the pending Rockwell Collins acquisition; (5) future availability of credit and factors that may affect such availability, including credit
market conditions and our capital structure; (6) the timing and scope of future repurchases of United Technologies» common stock, which may be suspended at any time due to various factors, including
market conditions and the level of other investing activities and uses of cash, including in connection with the proposed acquisition of Rockwell; (7) delays and disruption in delivery of materials and services from suppliers; (8) company and customer - directed cost reduction efforts and restructuring costs and savings and other consequences thereof; (9) new business and investment opportunities; (10) our ability to realize the intended benefits of organizational
changes; (11) the anticipated benefits of diversification and balance of operations across product lines, regions and industries; (12) the outcome of legal proceedings, investigations and other contingencies; (13) pension plan assumptions and future contributions; (14) the impact of the negotiation of collective bargaining agreements and labor disputes; (15) the effect of
changes in political
conditions in the U.S. and other countries in which United Technologies and Rockwell Collins operate, including the effect of
changes in U.S. trade policies or the U.K.'s pending withdrawal from the EU, on general
market conditions, global trade policies and currency exchange rates in the near term and beyond; (16) the effect of
changes in tax (including U.S. tax reform enacted on December 22, 2017, which is commonly referred to as the Tax Cuts and Jobs Act of 2017), environmental, regulatory (including among other things import / export) and other laws and regulations in the U.S. and other countries in which United Technologies and Rockwell Collins operate; (17) the ability of United Technologies and Rockwell Collins to receive the required regulatory approvals (and the risk that such approvals may result in the imposition of
conditions that could adversely affect the combined company or the expected benefits of the merger) and to satisfy the other
conditions to the closing of the pending acquisition on a timely basis or at all; (18) the occurrence of events that may give rise to a right of one or both of United Technologies or Rockwell Collins to terminate the merger agreement, including in circumstances that might require Rockwell Collins to pay a termination fee of $ 695 million to United Technologies or $ 50 million of expense reimbursement; (19) negative effects of the announcement or the completion of the merger on the
market price of United Technologies» and / or Rockwell Collins» common stock and / or on their respective
financial performance; (20) risks related to Rockwell Collins and United Technologies being restricted in their operation of their businesses while the merger agreement is in effect; (21) risks relating to the value of the United Technologies» shares to be issued in connection with the pending Rockwell acquisition, significant merger costs and / or unknown liabilities; (22) risks associated with third party contracts containing consent and / or other provisions that may be triggered by the Rockwell merger agreement; (23) risks associated with merger - related litigation or appraisal proceedings; and (24) the ability of United Technologies and Rockwell Collins, or the combined company, to retain and hire key personnel.
Staley told CNBC that given the high level of debt across the world, in particular among emerging
markets where dollar - denominated debt has grown dramatically, many economies could be at risk if there were sudden
changes in
financial conditions.
Important factors that could cause our actual results and
financial condition to differ materially from those indicated in the forward - looking statements include, among others, the following: our ability to successfully and profitably market our products and services; the acceptance of our products and services by patients and healthcare providers; our ability to meet demand for our products and services; the willingness of health insurance companies and other payers to cover Cologuard and adequately reimburse us for our performance of the Cologuard test; the amount and nature of competition from other cancer screening and diagnostic products and services; the effects of the adoption, modification or repeal of any healthcare reform law, rule, order, interpretation or policy; the effects of changes in pricing, coverage and reimbursement for our products and services, including without limitation as a result of the Protecting Access to Medicare Act of 2014; recommendations, guidelines and quality metrics issued by various organizations such as the U.S. Preventive Services Task Force, the American Cancer Society, and the National Committee for Quality Assurance regarding cancer screening or our products and services; our ability to successfully develop new products and services; our success establishing and maintaining collaborative, licensing and supplier arrangements; our ability to maintain regulatory approvals and comply with applicable regulations; and the other risks and uncertainties described in the Risk Factors and in Management's Discussion and Analysis of Financial Condition and Results of Operations sections of our most recently filed Annual Report on Form 10 - K and our subsequently filed Quarterly Reports on For
financial condition to differ materially from those indicated in the forward - looking statements include, among others, the following: our ability to successfully and profitably
market our products and services; the acceptance of our products and services by patients and healthcare providers; our ability to meet demand for our products and services; the willingness of health insurance companies and other payers to cover Cologuard and adequately reimburse us for our performance of the Cologuard test; the amount and nature of competition from other cancer screening and diagnostic products and services; the effects of the adoption, modification or repeal of any healthcare reform law, rule, order, interpretation or policy; the effects of
changes in pricing, coverage and reimbursement for our products and services, including without limitation as a result of the Protecting Access to Medicare Act of 2014; recommendations, guidelines and quality metrics issued by various organizations such as the U.S. Preventive Services Task Force, the American Cancer Society, and the National Committee for Quality Assurance regarding cancer screening or our products and services; our ability to successfully develop new products and services; our success establishing and maintaining collaborative, licensing and supplier arrangements; our ability to maintain regulatory approvals and comply with applicable regulations; and the other risks and uncertainties described in the Risk Factors and in Management's Discussion and Analysis of
Financial Condition and Results of Operations sections of our most recently filed Annual Report on Form 10 - K and our subsequently filed Quarterly Reports on For
Financial Condition and Results of Operations sections of our most recently filed Annual Report on Form 10 - K and our subsequently filed Quarterly Reports on Form 10 - Q.
Among the factors that could cause actual results to differ materially are the following: (1) worldwide economic, political, and capital
markets conditions and other factors beyond the Company's control, including natural and other disasters or climate
change affecting the operations of the Company or its customers and suppliers; (2) the Company's credit ratings and its cost of capital; (3) competitive
conditions and customer preferences; (4) foreign currency exchange rates and fluctuations in those rates; (5) the timing and
market acceptance of new product offerings; (6) the availability and cost of purchased components, compounds, raw materials and energy (including oil and natural gas and their derivatives) due to shortages, increased demand or supply interruptions (including those caused by natural and other disasters and other events); (7) the impact of acquisitions, strategic alliances, divestitures, and other unusual events resulting from portfolio management actions and other evolving business strategies, and possible organizational restructuring; (8) generating fewer productivity improvements than estimated; (9) unanticipated problems or delays with the phased implementation of a global enterprise resource planning (ERP) system, or security breaches and other disruptions to the Company's information technology infrastructure; (10)
financial market risks that may affect the Company's funding obligations under defined benefit pension and postretirement plans; and (11) legal proceedings, including significant developments that could occur in the legal and regulatory proceedings described in the Company's Annual Report on Form 10 - K for the year ended Dec. 31, 2017, and any subsequent quarterly reports on Form 10 - Q (the «Reports»).
These risks and uncertainties include: Gilead's ability to achieve its anticipated full year 2018
financial results; Gilead's ability to sustain growth in revenues for its antiviral and other programs; the risk that private and public payers may be reluctant to provide, or continue to provide, coverage or reimbursement for new products, including Vosevi, Yescarta, Epclusa, Harvoni, Genvoya, Odefsey, Descovy, Biktarvy and Vemlidy ®; austerity measures in European countries that may increase the amount of discount required on Gilead's products; an increase in discounts, chargebacks and rebates due to ongoing contracts and future negotiations with commercial and government payers; a larger than anticipated shift in payer mix to more highly discounted payer segments and geographic regions and decreases in treatment duration; availability of funding for state AIDS Drug Assistance Programs (ADAPs); continued fluctuations in ADAP purchases driven by federal and state grant cycles which may not mirror patient demand and may cause fluctuations in Gilead's earnings;
market share and price erosion caused by the introduction of generic versions of Viread and Truvada, an uncertain global macroeconomic environment; and potential amendments to the Affordable Care Act or other government action that could have the effect of lowering prices or reducing the number of insured patients; the possibility of unfavorable results from clinical trials involving investigational compounds; Gilead's ability to initiate clinical trials in its currently anticipated timeframes; the levels of inventory held by wholesalers and retailers which may cause fluctuations in Gilead's earnings; Kite's ability to develop and commercialize cell therapies utilizing the zinc finger nuclease technology platform and realize the benefits of the Sangamo partnership; Gilead's ability to submit new drug applications for new product candidates in the timelines currently anticipated; Gilead's ability to receive regulatory approvals in a timely manner or at all, for new and current products, including Biktarvy; Gilead's ability to successfully commercialize its products, including Biktarvy; the risk that physicians and patients may not see advantages of these products over other therapies and may therefore be reluctant to prescribe the products; Gilead's ability to successfully develop its hematology / oncology and inflammation / respiratory programs; safety and efficacy data from clinical studies may not warrant further development of Gilead's product candidates, including GS - 9620 and Yescarta in combination with Pfizer's utomilumab; Gilead's ability to pay dividends or complete its share repurchase program due to
changes in its stock price, corporate or other
market conditions; fluctuations in the foreign exchange rate of the U.S. dollar that may cause an unfavorable foreign currency exchange impact on Gilead's future revenues and pre-tax earnings; and other risks identified from time to time in Gilead's reports filed with the U.S. Securities and Exchange Commission (the SEC).
Junk bonds are simply the most sensitive segment of the credit
market to
changing financial conditions.
Financial conditions affect households» and firms» decisions, so that the transmission of U.S. monetary policy to the real economy depends, to a large extent, on how changes in monetary policy help deliver the appropriate financial market conditions to support our objectives of price stability and maximum em
Financial conditions affect households» and firms» decisions, so that the transmission of U.S. monetary policy to the real economy depends, to a large extent, on how
changes in monetary policy help deliver the appropriate
financial market conditions to support our objectives of price stability and maximum em
financial market conditions to support our objectives of price stability and maximum employment.
Factors that could cause or contribute to actual results differing from our forward - looking statements include risks relating to: failure of DBRS to rate the Notes at the anticipated ratings levels, which is a closing
condition, or at all;
changes in the
financial markets, including
changes in credit
markets, interest rates, securitization
markets generally and our proposed securitization in particular; the willingness of investors to buy the Notes; adverse developments regarding OnDeck, its business or the online or broader marketplace lending industry generally, any of which could impact what credit ratings, if any, are issued with respect to the Notes; the extended settlement cycle for the scheduled closing on April 17, 2018, which may exacerbate the foregoing risks; and other risks, including those described in our Annual Report on Form 10 - K for the year ended December 31, 2017 and in other documents that we file with the Securities and Exchange Commission from time to time which are or will be available on the Commission's website at www.sec.gov.
Opinions and statements of
financial market trends that are based on current
market conditions constitute our judgment and are subject to
change without notice.
These statements may involve a number of risks, uncertainties and other factors that could cause actual results to differ materially, including the performance of
financial markets, the investment performance of NexPoint Advisors, L.P.'s or Highland Capital Management L.P.'s sponsored investment products, general economic
conditions, future acquisitions, competitive
conditions and government regulations, including
changes in tax laws.
The municipal
market can be affected by adverse tax, legislative or political
changes and the
financial condition of the issuers of municipal securities.
If households and businesses do not have a good notion of how the Federal Reserve will respond to
changing economic and
financial market conditions, then this would loosen the linkage between short - term rates and
financial conditions.
Performance of companies in the
financials sector may be adversely impacted by many factors, including, among others, government regulations, economic
conditions, credit rating downgrades,
changes in interest rates, and decreased liquidity in credit
markets.
Consider these risks before investing: The value of securities in the fund's portfolio may fall or fail to rise over extended periods of time for a variety of reasons, including general
financial market conditions,
changing market perceptions,
changes in government intervention in the
financial markets, and factors related to a specific issuer, industry, or sector and, in the case of bonds, perceptions about the risk of default and expectations about
changes in monetary policy or interest rates.
The municipal
market can be adversely affected by tax, legislative, or political
changes and the
financial condition of the issuers of municipal securities.
Any
change in policy and
financial conditions carries with it at least some chance of setting off instability which could snowball given the current high degree of illiquidity in many
markets.
Important factors that may affect the Company's business and operations and that may cause actual results to differ materially from those in the forward - looking statements include, but are not limited to, operating in a highly competitive industry;
changes in the retail landscape or the loss of key retail customers; the Company's ability to maintain, extend and expand its reputation and brand image; the impacts of the Company's international operations; the Company's ability to leverage its brand value; the Company's ability to predict, identify and interpret
changes in consumer preferences and demand; the Company's ability to drive revenue growth in its key product categories, increase its
market share, or add products; an impairment of the carrying value of goodwill or other indefinite - lived intangible assets; volatility in commodity, energy and other input costs;
changes in the Company's management team or other key personnel; the Company's ability to realize the anticipated benefits from its cost savings initiatives;
changes in relationships with significant customers and suppliers; the execution of the Company's international expansion strategy; tax law
changes or interpretations; legal claims or other regulatory enforcement actions; product recalls or product liability claims; unanticipated business disruptions; the Company's ability to complete or realize the benefits from potential and completed acquisitions, alliances, divestitures or joint ventures; economic and political
conditions in the United States and in various other nations in which we operate; the volatility of capital
markets; increased pension, labor and people - related expenses; volatility in the
market value of all or a portion of the derivatives we use; exchange rate fluctuations; risks associated with information technology and systems, including service interruptions, misappropriation of data or breaches of security; the Company's ability to protect intellectual property rights; impacts of natural events in the locations in which we or the Company's customers, suppliers or regulators operate; the Company's indebtedness and ability to pay such indebtedness; the Company's ownership structure; the impact of future sales of its common stock in the public
markets; the Company's ability to continue to pay a regular dividend;
changes in laws and regulations; restatements of the Company's consolidated
financial statements; and other factors.
The additional factors considered when determining any
changes in fair value between the most recent valuation report and the grant dates included, when available, the prices paid in recent transactions involving our equity securities, as well as our operating and
financial performance, current industry
conditions and the
market performance of comparable publicly traded companies.
The municipal
market can be adversely affected by tax, legislative, or political
changes, and by the
financial condition of the issuers of municipal securities.
Many factors affect performance including
changes in
market conditions and interest rates and in response to other economic, political, or
financial developments.
Due to
market conditions, a number of
financial authorities are announcing rule
changes that affect short - selling of physical Stocks.
Do investors in the current
financial market have the same reverence for the
market mountain and a solid game plan for decision making when
financial market weather
conditions change?
Liquidity related «weather
conditions» on the
financial market mountain are going to
change (the one singular guarantee on Everest).
The signs of capital concentration tell us we need to start thinking about how we will execute a plan for the ultimate descent at perhaps a very crowded Hillary Step juncture somewhere in the future when shorter term weather
conditions on the
financial market mountain
change.
Like the
financial markets,
conditions on Everest can
change quickly and with very little warning.
Examples of these risks, uncertainties and other factors include, but are not limited to the impact of: adverse general economic and related factors, such as fluctuating or increasing levels of unemployment, underemployment and the volatility of fuel prices, declines in the securities and real estate
markets, and perceptions of these
conditions that decrease the level of disposable income of consumers or consumer confidence; adverse events impacting the security of travel, such as terrorist acts, armed conflict and threats thereof, acts of piracy, and other international events; the risks and increased costs associated with operating internationally; our expansion into and investments in new
markets; breaches in data security or other disturbances to our information technology and other networks; the spread of epidemics and viral outbreaks; adverse incidents involving cruise ships;
changes in fuel prices and / or other cruise operating costs; any impairment of our tradenames or goodwill; our hedging strategies; our inability to obtain adequate insurance coverage; our substantial indebtedness, including the ability to raise additional capital to fund our operations, and to generate the necessary amount of cash to service our existing debt; restrictions in the agreements governing our indebtedness that limit our flexibility in operating our business; the significant portion of our assets pledged as collateral under our existing debt agreements and the ability of our creditors to accelerate the repayment of our indebtedness; volatility and disruptions in the global credit and
financial markets, which may adversely affect our ability to borrow and could increase our counterparty credit risks, including those under our credit facilities, derivatives, contingent obligations, insurance contracts and new ship progress payment guarantees; fluctuations in foreign currency exchange rates; overcapacity in key
markets or globally; our inability to recruit or retain qualified personnel or the loss of key personnel; future
changes relating to how external distribution channels sell and
market our cruises; our reliance on third parties to provide hotel management services to certain ships and certain other services; delays in our shipbuilding program and ship repairs, maintenance and refurbishments; future increases in the price of, or major
changes or reduction in, commercial airline services; seasonal variations in passenger fare rates and occupancy levels at different times of the year; our ability to keep pace with developments in technology; amendments to our collective bargaining agreements for crew members and other employee relation issues; the continued availability of attractive port destinations; pending or threatened litigation, investigations and enforcement actions;
changes involving the tax and environmental regulatory regimes in which we operate; and other factors set forth under «Risk Factors» in our most recently filed Annual Report on Form 10 - K and subsequent filings by the Company with the Securities and Exchange Commission.
In some of these companies the departure of the CEO coincided with a dramatic
change in
market conditions or some other external shock such as the global
financial crisis.
ARMs got a bad rap after the
financial crisis, because they offer a lower interest rate for a fixed initial period (typically five years), but then the rate is subject to
change based on
market conditions — and could go way up.
As the current
market regime wanes, we believe a case can be made for dynamic strategies that are responsive to
changing market conditions, in particular, managed futures strategies that take long / short positions across a diversified basket of commodity and
financial market futures.
While you are negotiating the terms and
conditions of your mortgage — no matter the type — lenders keep reacting to
changes in the
financial markets by
changing interest rates.
Bond prices may fall or fail to rise over time for several reasons, including general
financial market conditions,
changing market perceptions of the risk of default,
changes in government intervention, and factors related to a specific issuer or industry.
Consider these risks before investing: Bond prices may fall or fail to rise over time for several reasons, including general
financial market conditions,
changing market perceptions of the risk of default,
changes in government intervention, and factors related to a specific issuer or industry.
Consider these risks before investing: Stock and bond prices may fall or fail to rise over time for several reasons, including general
financial market conditions, factors related to a specific issuer or industry and, with respect to bond prices,
changing market perceptions of the risk of default and
changes in government intervention.
Consider these risks before investing: Bond prices may fall or fail to rise over time for several reasons, including general
financial market conditions,
changing market perceptions (including perceptions about the risk of default and expectations about monetary policy or interest rates),
changes in government intervention in the
financial markets, and factors related to a specific issuer or industry.
Limited Management, Trading Cost and Rebalance — Investing according to specific, mechanical criteria applied on a specific date each year may prevent a portfolio from responding to
market fluctuations or
changes in the
financial condition or business prospects of the selected companies during the year.
Investing to profit from the evolution in the
market as a result of climate
change should allow for a portfolio to weather any
financial conditions over the long - term.
The municipal
market can be affected by adverse tax, legislative or political
changes and the
financial condition of the issuers of municipal securities.
It's essentially a free
financial advice service helping users to build a portfolio that is right for them with experts who then monitor and trade as
market conditions change.
Asset prices may fall or fail to rise over time for several reasons, including general
financial market conditions,
changing market perceptions (including, in the case of bonds, perceptions about the risk of default and expectations about monetary policy or interest rates),
changes in government intervention in the
financial markets, and factors related to a specific issuer, industry or commodity.
Stock and bond prices may fall or fail to rise over time for several reasons, including general
financial market conditions,
changing market perceptions (including, in the case of bonds, perceptions about the risk of default and expectations about monetary policy or interest rates),
changes in government intervention in the
financial markets, and factors related to a specific issuer or industry.
Company Risk — Equity securities can fluctuate in price based upon many different factors, including among others,
changes in the company's
financial condition or prospects, or
changes in
market or economic
conditions affecting a company's industry generally.
Common stock prices fluctuate based on
changes to a company's
financial condition and on overall
market and economic
conditions.
Consumers are wise to recognize the ever -
changing conditions in the
financial markets that cause the lenders to
change rates often.
The municipal
market is volatile and can be significantly affected by adverse tax, legislative or political
changes and the
financial condition of the issuers of municipal securities.
Stock and bond prices may fall or fail to rise over time for several reasons, including general
financial market conditions,
changing market perceptions (including, in the case of bonds, perceptions about the risk of default and expectations about
changes in monetary policy or interest rates),
changes in government intervention in the
financial markets, and factors related to a specific issuer or industry.
Investing according to specific, mechanical criteria applied on a specific date each year may prevent a Portfolio from responding to
market fluctuations or
changes in the
financial condition or business prospects of the selected companies during the year.
But well - established, safety - conscious stocks have the asset size and the
financial clout — including solid balance sheets and strong cash flow — to weather
market downturns or
changing industry
conditions.
Consider these risks before investing: Convertible securities prices may fall or fail to rise over time for several reasons, including general
financial market conditions, factors related to a specific company or industry,
changing market perceptions of the risk of default and
changes in government intervention in the
financial markets.