Its success stories include the discovery of the «inverse cubic law», an apparently universal form describing the distribution
of fluctuations in stock prices and market indices.
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.
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.
A generous back -
of - the - envelope estimate is that Hugh Hefner is worth $ 26 million, not accounting for
price fluctuations in Hefner's
stock market and bond investments.
Actual results, including with respect to our targets and prospects, could differ materially due to a number
of factors, including the risk that we may not obtain sufficient orders to achieve our targeted revenues;
price competition
in key markets; the risk that we or our channel partners are not able to develop and expand customer bases and accurately anticipate demand from end customers, which can result
in increased inventory and reduced orders as we experience wide
fluctuations in supply and demand; the risk that our commercial Lighting Products results will continue to suffer if new issues arise regarding issues related to product quality for this business; the risk that we may experience production difficulties that preclude us from shipping sufficient quantities to meet customer orders or that result
in higher production costs and lower margins; our ability to lower costs; the risk that our results will suffer if we are unable to balance
fluctuations in customer demand and capacity, including bringing on additional capacity on a timely basis to meet customer demand; the risk that longer manufacturing lead times may cause customers to fulfill their orders with a competitor's products instead; the risk that the economic and political uncertainty caused by the proposed tariffs by the United States on Chinese goods, and any corresponding Chinese tariffs
in response, may negatively impact demand for our products; product mix; risks associated with the ramp - up
of production
of our new products, and our entry into new business channels different from those
in which we have historically operated; the risk that customers do not maintain their favorable perception
of our brand and products, resulting
in lower demand for our products; the risk that our products fail to perform or fail to meet customer requirements or expectations, resulting
in significant additional costs, including costs associated with warranty returns or the potential recall
of our products; ongoing uncertainty
in global economic conditions, infrastructure development or customer demand that could negatively affect product demand, collectability
of receivables and other related matters as consumers and businesses may defer purchases or payments, or default on payments; risks resulting from the concentration
of our business among few customers, including the risk that customers may reduce or cancel orders or fail to honor purchase commitments; the risk that we are not able to enter into acceptable contractual arrangements with the significant customers
of the acquired Infineon RF Power business or otherwise not fully realize anticipated benefits
of the transaction; the risk that retail customers may alter promotional
pricing, increase promotion
of a competitor's products over our products or reduce their inventory levels, all
of which could negatively affect product demand; the risk that our investments may experience periods
of significant
stock price volatility causing us to recognize fair value losses on our investment; the risk posed by managing an increasingly complex supply chain that has the ability to supply a sufficient quantity
of raw materials, subsystems and finished products with the required specifications and quality; the risk we may be required to record a significant charge to earnings if our goodwill or amortizable assets become impaired; risks relating to confidential information theft or misuse, including through cyber-attacks or cyber intrusion; our ability to complete development and commercialization
of products under development, such as our pipeline
of Wolfspeed products, improved LED chips, LED components, and LED lighting products risks related to our multi-year warranty periods for LED lighting products; risks associated with acquisitions, divestitures, joint ventures or investments generally; the rapid development
of new technology and competing products that may impair demand or render our products obsolete; the potential lack
of customer acceptance for our products; risks associated with ongoing litigation; and other factors discussed
in our filings with the Securities and Exchange Commission (SEC), including our report on Form 10 - K for the fiscal year ended June 25, 2017, and subsequent reports filed with the SEC.
After a healthy run earlier this year, shares
of Salesforce took a hit
in June, falling 8 percent before finding a floor
of support at the
stock's 50 - day moving average, a technical indicator that smooths out a
stock's random
price fluctuations over a given time.
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).
Some
of the factors that could negatively affect our share
price or result
in fluctuations in the
price or trading volume
of our common
stock include:
The Fund's investments
in smaller - company
stocks carry an increased risk
of price fluctuation, especially over the short term.
Fluctuations in the market
price of our Class A common
stock could cause you to lose all or part
of your investment because you may not be able to sell your shares at or above the
price you paid
in this offering.
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, increased competition; the Company's ability to maintain, extend and expand its reputation and brand image; the Company's ability to differentiate its products from other brands; the consolidation
of retail customers; 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 inability to realize the anticipated benefits from the Company's cost savings initiatives; changes
in relationships with significant customers and suppliers; execution
of the Company's international expansion strategy; changes
in laws and regulations; legal claims or other regulatory enforcement actions; product recalls or product liability claims; unanticipated business disruptions; failure to successfully integrate the Company; 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 nations
in which the Company operates; 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 that the Company uses; exchange rate
fluctuations; disruptions
in information technology networks and systems; the Company's inability to protect intellectual property rights; impacts
of natural events
in the locations
in which the Company or its customers, suppliers or regulators operate; the Company's indebtedness and ability to pay such indebtedness; the Company's dividend payments on its Series A Preferred
Stock; tax law changes or interpretations;
pricing actions; and other factors.
We can not predict whether this structure and the concentrated control it affords Mr. Spiegel and Mr. Murphy will result
in a lower trading
price or greater
fluctuations in the trading
price of our Class A common
stock as compared to the trading
price if the Class A common
stock had voting rights.
In addition, the trading price of our common stock following this offering is likely to be highly volatile and could be subject to wide fluctuations in response to various factors, some of which are beyond our contro
In addition, the trading
price of our common
stock following this offering is likely to be highly volatile and could be subject to wide
fluctuations in response to various factors, some of which are beyond our contro
in response to various factors, some
of which are beyond our control.
We can not predict whether this structure, combined with the concentrated control by Mr. Spiegel and Mr. Murphy, will result
in a lower trading
price or greater
fluctuations in the trading
price of our Class A common
stock as compared to the market
price were we to sell voting
stock in this offering, or will result
in adverse publicity or other adverse consequences.
Factors that could cause
fluctuations in the market
price of our common
stock include the following:
These
fluctuations could cause you to lose all or part
of your investment
in our common
stock since you might be unable to sell your shares at or above the
price you paid
in this offering.
To understand the effect
of this modest shortfall
in stock selection performance over the past 8 months, recall that when the Fund is hedged against the impact
of market
fluctuations (and provided that our long - put / short - call index option combinations have identical strike
prices and expirations), its returns are roughly equal to:
«We do not evaluate the quality
of an investment by the short - term
fluctuations in its
stock price.
Even though the
price of bonds do change, historically those
fluctuations are WAY smaller than
fluctuations in stock prices.
Investors should take note
of the days Shanghai - Hong Kong
Stock Connect is open for business and decide according to their own risk tolerance capability whether or not to take on the risk
of price fluctuations in A-shares during the time when Shanghai - Hong Kong
Stock Connect is not trading.
8 APR 2018 Michael Hartnett (Michael Hartnett), chief investment strategist at Bank
of America, warned investors that the recent
fluctuations in the
price of bitcoin is similar to the behavior
of other financial bubbles, including the
stock market crash
of 1929 and the end
of the Tulip fever
of the 18th century.
An attempt to charge a tax on a bitcoin transaction using your countries preferred currency (dollars, yen, rubies, gold pieces, bottlecaps) will be made harder by the fact that there could be a non-trivial difference
in price between morning and evening, but again countries have seen this sort
of thing with penny
stocks and know how to handle the
fluctuation.
Seeing as the Bank
of Japan is engaged
in full - on «Abenomics,» which seeks higher inflation and falling yen
prices, investors get the best
of both worlds: upside
in Japanese
stocks with zero exposure to currency
fluctuations.
The value
of the
stock changed, but I assume this is part
of the normal
fluctuations in stock price, but now I'm not so sure.
The portfolio managers seek to purchase
stocks that are reasonably
priced in relation to their fundamental value and that the portfolio managers believe will grow
in value over time regardless
of short - term market
fluctuations.
One
of the characteristics
of stock markets is the
fluctuation in stock prices.
Alpha: A statistical measurement used to determine the percentage
of the change
in a
stock's
price due to factors internal to the company, rather than to the
stock market's
fluctuations.
Strategic Dividend Value is hedged at about half the value
of its
stock holdings, and Strategic Total Return continues to hold a duration
of just over 3.5 years (meaning that a 100 basis point move
in interest rates would be expected to impact Fund value by about 3.5 % on the basis
of bond
price fluctuations), with less than 10 %
of assets
in precious metals shares, and about 5 %
of assets
in utility shares.
These funds are also affected because
of fluctuations in share
prices in the
stock markets.
Dollar Cost Averaging: This strategy involves buying
stocks usually
in equal portions on a regular basis regardless
of the
fluctuation in prices.
But because passive investors are not conversant with the happenings
in the
stock market, they usually lose most
of their gains back to the market due to
stock price fluctuation.
The contract's specifications include a cash settlement
of the futures contract, intra-day
price fluctuation limits similar to those
in place for
stock index futures.
In stock jobbing, investors try to take advantage
of rapid
stock price fluctuations, buying low and selling high, to create fast profits.
It seems obvious that earnings as reported tends to be a key factor influencing short - term
fluctuations in the
prices of publicly - traded common
stocks, even though those reported earnings give little, or no, clues as to what underlying values may be.
That's just another danger
of trading
stocks online — there's a large random element
in short - term
stock -
price fluctuations that you just can't avoid
That's just another danger
of trading
stocks online — there's a large random element
in short - term
stock -
price fluctuations that you just can't get away from.
For instance,
fluctuations in stock prices will change the amount
of a gain or loss, and these changes themselves could change what tax bracket you wind up
in, or change whether or not the loss winds up being fully deductible against ordinary income.
You should also prepare yourself for the inherent volatility
of the market and the significant
fluctuation in stock prices.
An additional benefit
of using dividends
in evaluating a company is that since dividends only change once a year, they provide a much more stable point
of analysis than metrics that are subject to the day - to - day
fluctuations in stock price.
Oil
stocks report profits that are heavily reliant on the
price of oil, and everyone knows this is subject to extreme
fluctuations in the short term.
The Fund's Investor Class was used to calculate beta, a measure
of the magnitude
of a fund's past share
price fluctuations in relation to the
fluctuations in the
stock market (as represented by the fund's benchmark).
The Fund's Institutional Class was used to calculate beta, a measure
of the magnitude
of a fund's past share
price fluctuations in relation to the
fluctuations in the
stock market (as represented by the Fund's benchmark).
Volatility: A measure
of the degree
of fluctuation in a
stock's
price.
In comparison to individual
stock,
price fluctuations of mutual funds are more conventional and predictable.