Economic cycles have a clear impact
on factor performance Some factors show pro-cyclical while others highlight anti-cyclical characteristics Given that real GDP is not published in real - time, it is unlikely effective for factor selection INTRODUCTION Financial commentators frequently explain a
Not exact matches
To find the wealthiest people in the world, Wealth - X looked at its database of dossiers
on more than 110,000 ultra-high net - worth people and used a proprietary valuation model that takes into account each person's assets, then adjusts estimated net worth to account for currency - exchange rates, local taxes, savings rates, investment
performance, and other
factors.
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.
Based
on our experience, we initially thought this was due to a combination of two
factors: a normal, temporary
performance impact when upgrading the operating system as iPhone installs new software and updates apps, and minor bugs in the initial release which have since been fixed.
Despite the emphasis
on this type of analytical process, very few organizations have the usable data they need, and even fewer have a good understanding of the talent
factors that drive
performance.
But whatever the exact weight of various
factors turns out to be, it's already clear that attitude has a bigger impact
on performance than the scientists expected.
On - boarding programs have been shown to increase retention by 50 percent, a key
factor in improving employee
performance.
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.
I recently analyzed Facebook vs. Twitter ad
performance, comparing the two across a number of key
factors including network reach, ad
performance on desktop or mobile, and average cost.
Iceland's law stands out in a key way: Companies and organizations with at least 25 full - time employees must actually obtain government certification proving their pay policies are based
on factors such as education, skills and
performance, not gender.
The
performance of an ad, campaign and account can now also be broken out by such
factors as age, gender, country and where the ad actually ran
on Facebook.
Employee
performance reviews are often given at the end of the year and have a big impact
on an employee's future
performance manipulating
factors like motivation, engagement, and morale.
The combination of these
factors will have several positive effects
on unit level
performance.
These
factors may cause the actual results, success, and
performance of OSRAM to differ significantly from those expressly or implicitly communicated in the forward - looking statements or from those that are expected
on the basis of past trends.
Independent software review organization AV-Test.org awarded the program perfect scores across the board
on factors including protection,
performance and usability, and those scores alone suggest the user could do far worst than choosing the Bitdefender option.
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 Form
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 Form
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 Form 10 - Q.
This new strategy, based
on survey data we collected, increased employee satisfaction by 40 percent and improved two
factors specifically:
performance related to employee concentration and employees» ability to meet face to face and hold phone conversations.
The 4 percent rule is based
on the portfolio's initial balance; subsequent market
performance isn't dynamically
factored into the withdrawal rate — even though it can dramatically affect the portfolio's balance.
Actual results may differ materially from those expressed or implied in the forward - looking statements as a result of various
factors, including but not limited to: our substantial increased indebtedness as a result of the 2015 Recapitalization and the 2017 Recapitalization and our ability to incur additional indebtedness or refinance that indebtedness in the future; our future financial
performance and our ability to pay principal and interest
on our indebtedness.
The realities of the 21st century require fiduciaries to be concerned with the impact of financial, social and environmental
factors on the
performance of their company to fulfill their legal obligations and maximize shareholder value.
In addition to
factors previously disclosed in Tesla's and SolarCity's reports filed with the U.S. Securities and Exchange Commission (the «SEC») and those identified elsewhere in this document, the following
factors, among others, could cause actual results to differ materially from forward - looking statements and historical
performance: the ability to obtain regulatory approvals and meet other closing conditions to the transaction, including requisite approval by Tesla and SolarCity stockholders,
on a timely basis or at all; delay in closing the transaction; the ultimate outcome and results of integrating the operations of Tesla and SolarCity and the ultimate ability to realize synergies and other benefits; business disruption following the transaction; the availability and access, in general, of funds to meet debt obligations and to fund ongoing operations and necessary capital expenditures; and the ability to comply with all covenants in the indentures and credit facilities of Tesla and SolarCity, any violation of which, if not cured in a timely manner, could trigger a default of other obligations under cross-default provisions.
These
factors warrant special attention to the policy influences
on the financial sector's
performance.
Steve Andersen, president and founder of
Performance Methods Incorporated, and Nancy Chen, content marketing intern at Repsly, wrote great articles
on how to decide what are
factors define «territory» within an organization.
Based
on the company's
performance or other
factors, the value of its stock may rise or fall, meaning that its shareholders either gain or lose money.
Barclays is giving advice «
on value - boosting transactions — such as spinoffs, splitoffs and carveouts — to help deter activists,» and working with companies «to pinpoint the
factors driving poor
performance, such as the company's balance sheet, operating
performance, or corporate structure.»
To answer that question we analyzed data
on three
factors: employer contributions to 401 (k) plans, 401 (k) investment
performance and plan administrative fees.
At the end of each year, the Committee determines compensation by assessing
performance against these financial targets, as well as in light of HP's
performance relative to its peers
on other financial and non-financial
factors and unusual or extraordinary events.
It's difficult to put a number
on discipline year in and year out, but it's right up there with the most important
factors for portfolio
performance.
We caution you that these statements are not guarantees of future
performance and are subject to numerous risks and uncertainties, including volatility in the economy and the credit markets, supply and demand changes for vacation ownership and residential products, competitive conditions; the availability of capital to finance growth, and other matters referred to under the heading «Risk
Factors» contained in our Annual Report
on 10 - K for the year ended December 30, 2011 filed with the U.S. Securities and Exchange Commission (the «SEC») and in subsequent SEC filings, any of which could cause actual results to differ materially from those expressed in or implied in this presentation.
Many
factors could cause BlackBerry's actual results,
performance or achievements to differ materially from those expressed or implied by the forward - looking statements, including, without limitation: BlackBerry's ability to enhance its current products and services, or develop new products and services in a timely manner or at competitive prices, including risks related to new product introductions; risks related to BlackBerry's ability to mitigate the impact of the anticipated decline in BlackBerry's infrastructure access fees
on its consolidated revenue by developing an integrated services and software offering; intense competition, rapid change and significant strategic alliances within BlackBerry's industry; BlackBerry's reliance
on carrier partners and distributors; risks associated with BlackBerry's foreign operations, including risks related to recent political and economic developments in Venezuela and the impact of foreign currency restrictions; risks relating to network disruptions and other business interruptions, including costs, potential liabilities, lost revenues and reputational damage associated with service interruptions; risks related to BlackBerry's ability to implement and to realize the anticipated benefits of its CORE program; BlackBerry's ability to maintain or increase its cash balance; security risks; BlackBerry's ability to attract and retain key personnel; risks related to intellectual property rights; BlackBerry's ability to expand and manage BlackBerry (R) World (TM); risks related to the collection, storage, transmission, use and disclosure of confidential and personal information;
Many
factors could cause BlackBerry's actual results,
performance or achievements to differ materially from those expressed or implied by the forward - looking statements, including, without limitation: BlackBerry's ability to enhance its current products and services, or develop new products and services in a timely manner or at competitive prices, including risks related to new product introductions; risks related to BlackBerry's ability to mitigate the impact of the anticipated decline in BlackBerry's infrastructure access fees
on its consolidated revenue by developing an integrated services and software offering; intense competition, rapid change and significant strategic alliances within BlackBerry's industry; BlackBerry's reliance
on carrier partners and distributors; risks associated with BlackBerry's foreign operations, including risks related to recent political and economic developments in Venezuela and the impact of foreign currency restrictions; risks relating to network disruptions and other business interruptions, including costs, potential liabilities, lost revenues and reputational damage associated with service interruptions; risks related to BlackBerry's ability to implement and to realize the anticipated benefits of its CORE program; BlackBerry's ability to maintain or increase its cash balance; security risks; BlackBerry's ability to attract and retain key personnel; risks related to intellectual property rights; BlackBerry's ability to expand and manage BlackBerry ® World ™; risks related to the collection, storage, transmission, use and disclosure of confidential and personal information; BlackBerry's ability to manage inventory and asset risk; BlackBerry's reliance
on suppliers of functional components for its products and risks relating to its supply chain; BlackBerry's ability to obtain rights to use software or components supplied by third parties; BlackBerry's ability to successfully maintain and enhance its brand; risks related to government regulations, including regulations relating to encryption technology; BlackBerry's ability to continue to adapt to recent board and management changes and headcount reductions; reliance
on strategic alliances with third - party network infrastructure developers, software platform vendors and service platform vendors; BlackBerry's reliance
on third - party manufacturers; potential defects and vulnerabilities in BlackBerry's products; risks related to litigation, including litigation claims arising from BlackBerry's practice of providing forward - looking guidance; potential charges relating to the impairment of intangible assets recorded
on BlackBerry's balance sheet; risks as a result of actions of activist shareholders; government regulation of wireless spectrum and radio frequencies; risks related to economic and geopolitical conditions; risks associated with acquisitions; foreign exchange risks; and difficulties in forecasting BlackBerry's financial results given the rapid technological changes, evolving industry standards, intense competition and short product life cycles that characterize the wireless communications industry.
The market price of our common stock following this offering will depend
on a number of
factors many of which are beyond our control and may not be related to our operating
performance.
In the August 2012 draft of their paper entitled «Buffett's Alpha», Andrea Frazzini, David Kabiller and Lasse Pedersen model Warren Buffett's exceptional investing
performance based
on replicating the exposure of the publicly traded holdings of Berkshire Hathaway to six
factors.
«One
factor that has caused some reluctance
on my part to write semi-annual letters is the fear that partners may begin to think in terms of short - term
performance which can be most misleading.
2017 was a positive year for most
factors Quality, Growth and Momentum showed the strongest
performance Value, Dividend Yield and Size generated negative returns INTRODUCTION We present the
performance of seven well - known
factors on an annual basis for the last 10 years and the full - year 2017.
2018 started negative for the majority of
factors Momentum, Quality and Growth showed the strongest
performance Low Volatility, Dividend Yield and Value generated negative returns INTRODUCTION We present the
performance of seven well - known
factors on an annual basis for the last 10 years and the
On - time
performance and completion
factor have both improved significantly in the past several months.
Rather than relying solely
on market exposure to determine a stock's
performance relative to its index, smart beta strategies allocate and rebalance portfolio holdings by relying
on one or more «
factors.»
Instead of the weights of different types of bonds, investors can hone in
on exposure to
factors that drive portfolio
performance, such as interest rate risk, credit risk, and others.
Performance varies based
on number of devices connected and other
factors.
We caution you that these statements are not guarantees of future
performance and are subject to numerous risks and uncertainties, including volatility in the economy and the credit markets, supply and demand changes for vacation ownership and residential products, competitive conditions; the availability of capital to finance growth, and other matters referred to under the heading «Risk
Factors» contained in the Information Statement filed as an exhibit to our Annual Report
on Form 10 - K for the year ended December 30, 2011 filed with the U.S. Securities and Exchange Commission (the «SEC») and in subsequent SEC filings, any of which could cause actual results to differ materially from those expressed in or implied in this presentation.
Our conversations during the 2017 engagement season focused
on factors companies consider when setting
performance targets for their short - and long - term incentive programs.
These strategies focus
on exposure
factors that have historically had an impact
on investment
performance.
Recent market action offers important lessons
on how
factors and sector dispersion impact smart - beta ETFs»
performance.
Quantitative investing assumes that future
performance of a security relative to other securities may be predicted based
on historical economic and financial
factors, however, any errors in a model used might not be detected until the fund has sustained a loss or reduced
performance related to such errors.
On the other hand, stocks (and equity - related mutual funds) involve an assortment of risks ranging from individual company
performance to industry - specific
factors to the fitness of the general economy.
We caution you that these statements are not guarantees of future
performance and are subject to numerous risks and uncertainties, including changes in market conditions; unanticipated developments that prevent, delay, alter the terms of, or otherwise negatively affect the spin - off, and other risk
factors that Marriott Vacations Worldwide Corporation identifies in its Form 10 registration statement or that we identify in our most recent quarterly report
on Form 10 - Q.
A number of
factors are likely to contribute to maintaining the good recent
performance on inflation in the near future, with wages developments representing the main risk to a favourable outlook further ahead.
The company cautions you that these statements are not guarantees of future
performance and are subject to numerous risks and uncertainties, including volatility in the economy and the credit markets, supply and demand changes for vacation ownership and residential products, competitive conditions; the availability of capital to finance growth, and other matters referred to under the heading «Risk
Factors» contained in the company's most recent Annual Report
on Form 10 - K filed with the U.S Securities and Exchange Commission (the «SEC») and in subsequent SEC filings, any of which could cause actual results to differ materially from those expressed in or implied in this press release.
We caution you that these statements are not guarantees of future
performance and are subject to numerous risks and uncertainties, including changes in market conditions; unanticipated developments that prevent, delay, alter the terms of, or otherwise negatively affect the planned spin - off of our Timeshare segment, and other risk
factors that Marriott Vacations Worldwide Corporation identifies in its Form 10 registration statement or that we identify in our most recent quarterly report
on Form 10 - Q.