Daily Archives: March 18, 2022

We Think ResMed (NYSE:RMD) Might Have The DNA Of A Multi-Bagger – Simply Wall St

Posted: March 18, 2022 at 8:26 pm

If we want to find a potential multi-bagger, often there are underlying trends that can provide clues. Typically, we'll want to notice a trend of growing return on capital employed (ROCE) and alongside that, an expanding base of capital employed. This shows us that it's a compounding machine, able to continually reinvest its earnings back into the business and generate higher returns. With that in mind, the ROCE of ResMed (NYSE:RMD) looks great, so lets see what the trend can tell us.

For those that aren't sure what ROCE is, it measures the amount of pre-tax profits a company can generate from the capital employed in its business. To calculate this metric for ResMed, this is the formula:

Return on Capital Employed = Earnings Before Interest and Tax (EBIT) (Total Assets - Current Liabilities)

0.24 = US$976m (US$4.7b - US$621m) (Based on the trailing twelve months to December 2021).

Thus, ResMed has an ROCE of 24%. In absolute terms that's a great return and it's even better than the Medical Equipment industry average of 8.2%.

View our latest analysis for ResMed

Above you can see how the current ROCE for ResMed compares to its prior returns on capital, but there's only so much you can tell from the past. If you're interested, you can view the analysts predictions in our free report on analyst forecasts for the company.

ResMed is displaying some positive trends. The numbers show that in the last five years, the returns generated on capital employed have grown considerably to 24%. The company is effectively making more money per dollar of capital used, and it's worth noting that the amount of capital has increased too, by 56%. This can indicate that there's plenty of opportunities to invest capital internally and at ever higher rates, a combination that's common among multi-baggers.

To sum it up, ResMed has proven it can reinvest in the business and generate higher returns on that capital employed, which is terrific. Since the stock has returned a staggering 285% to shareholders over the last five years, it looks like investors are recognizing these changes. With that being said, we still think the promising fundamentals mean the company deserves some further due diligence.

On a final note, we've found 1 warning sign for ResMed that we think you should be aware of.

High returns are a key ingredient to strong performance, so check out our free list ofstocks earning high returns on equity with solid balance sheets.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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Husqvarna Group’s 2021 Sustainovate report – Electrification and innovation drives industry shift to a low-carbon, resource-smart economy – PR…

Posted: at 8:25 pm

STOCKHOLM, March 17, 2022 /PRNewswire/ -- Husqvarna Group Sustainovate Progress Report is now available. Sustainovate is the Group's way of combining its passion for sustainability with its innovation capability. Sustainability is at the center and fully integrated into the Husqvarna Group strategy and business.

"Electrification encapsulates our ambition to lead the industry transition into low-carbon, resource-smart solutions. Through innovation, collaboration and driving the transition together with our customers we can really make a difference and contribute to the goal of limiting temperature rise to 1.5 C", says Henric Andersson, CEO and President of Husqvarna Group.

Growing the market for electrified products is key for the Group's aspiration to reduce absolute CO2 emissions and empower its customers and consumers to make more sustainable choices since about 90% of the CO2 footprint relates to products in use. During the year the Group raised its ambitions for electrification to reach 67% of (motorized) sales within five years including double the sales of robotic mowers.

Sustainovate 2025 encompasses three main opportunities Carbon, Circular and People. Some of the year's highlights:

Carbon: The group has achieved a -27% reduction in CO2 emissions since 2015 and stays committed to reducing another 8% over the next four years to reach the target of 35% by 2025. Two key battery solutions were launched, the CEORA professional robotic mower and K 1 PACE power cutter, marking the start of electrification in two professional segments ultimately making it easier for customers to make more sustainable choices.

Circular: The Group stays on track to achieve the target of launching 50 circular innovations before 2025. This year, the Group launched two circular innovations and nine are under consideration. EcoLine Gardena Division's range of garden tools made with recyclable material received the German Sustainability Reward for sustainable products.

People: By 2025 the Group will have empowered 5 million customers and colleagues to make sustainable choices. This will be achieved through partnerships, learning from others and engaging in issues with an opportunity to affect change.

The Sustainovate Progress Report is available at:https://husqvarnagroup.com/sites/default/files/2022-03/Sustainovate_report_2021_FINAL.pdf

For additional information, contactCalle Medin, VP Sustainability: [emailprotected]

About SustainovateSustainovate is Husqvarna Group's strategic approach to driving sustainability transformation in its industry. The Group aims to pioneer solutions for step-change efficiency and smarter use of resources. The five-year framework covers three opportunities and associated targets to 2025. This goal-based approach focuses on long-term value creation and engaging others in Group efforts. For more information visit: http://www.husqvarnagroup.com/sustainability

This information was brought to you by Cision http://news.cision.com

https://news.cision.com/husqvarna-ab/r/husqvarna-group-s-2021-sustainovate-report---electrification-and-innovation-drives-industry-shift-to,c3526490

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House Committee Holds Hearing on Bioenergy RD&D – The National Law Review

Posted: at 8:25 pm

Related Practices & Jurisdictions

On March 16, 2022, the House Science, Space, and Technology Subcommittee on Energy held a hearing on Bioenergy Research and Development for the Fuels and Chemicals of Tomorrow. According to thehearing charter, the purpose of the hearing was to examine the status of bioenergy research, development, and demonstration (RD&D) activities carried out by the U.S. Department of Energy (DOE). The hearing also considered advancements in bioenergy research and the potential role of this resource in a cleaner energy transition. Lastly, the hearing was intended to help inform future legislation to support and guide the United States bioenergy RD&D enterprise. Witnesses included:

Dr. Jonathan Male, Chief Scientist for Energy Processes and Materials, Pacific Northwest National Laboratory (PNNL);

Dr. Andrew Leakey, Director of the Center for Advanced Bioenergy and Bioproducts Innovation at the University of Illinois Urbana-Champaign;

Dr. Laurel Harmon, Vice President of Government Affairs, LanzaTech; and

Dr. Eric Hegg, Professor, Biochemistry and Molecular Biology, Michigan State University.

In his oral andwritten testimony, Male made the following three points about the state of research:

The U.S. must expand its understanding of real-life biomass feedstocks -- the raw materials to be manipulated through various technologies to create bioenergy and bioproducts -- to apply successfully emerging science and technology at the scales required to meet carbon-reduction goals;

The United States has a great opportunity to turn current waste carbon streams, from municipal solid waste and landfill gases to used carbon fiber, into tomorrows carbon resources by expanding its RD&D agenda to increase efforts on these important potential biomass feedstocks; and

Bioenergy and bioproducts can and should play a critical role in reducing carbon emissions, particularly in sectors of the economy that are difficult to electrify, including aviation, maritime, and industry.

Leakeytestifiedabout the need for next-generation bioenergy and bioproducts as part of a decarbonized economy. According to Leakey, there is enormous potential to produce abundant supplies of renewable bioenergy and bioproducts from plant biomass, which would:

Develop a more just economy in which additional individuals and communities would receive economic benefit from the production of fuels and chemicals, including in rural areas;

Reduce reliance on foreign sources of energy and improve resilience in the face of international conflicts or natural disasters;

Support farming communities in developing a more diverse, sustainable, and resilient agricultural system; and

Counteract the progression of climate change.

In hertestimony, Harmon emphasized that DOEs RD&D programs should be technology- and feedstock-agnostic to advance all technically and economically viable pathways to produce chemicals and fuels. According to Harmon, DOE funding is needed not just for research and development but also for demonstration and deployment to ensure that plants are built and that they are built, to the extent possible, in underserved and/or economically depressed locations. Harmon suggested that the bioenergy concept be expanded to chemicals and materials that require carbon and are currently made from petroleum. Harmon stated that DOE also needs support for the staff and the systems that will enable it to accelerate the selection of these projects.

Heggtestifiedthat a potential growth area is increased coordination among the agencies under the purview of the House Science, Space, and Technology Committee, including DOE and the National Science Foundation (NSF). Hegg suggested that [t]his coordination could be especially powerful if expanded to include other federal agencies that fund bioenergy related research, including the [U.S. Department of Agriculture (USDA)].

The witnesses highlighted how bioenergy and bioproducts have the potential to reduce carbon emissions significantly and counteract the progression of climate change. Expanding DOE funding for RD&D would help ensure that underserved, economically depressed, and rural areas receive economic benefit from the production of biofuels and biochemicals. As reported in our January 24, 2022,blog item, the U.S. Environmental Protection Agency (EPA) announced a new effort under the Toxic Substances Control Act (TSCA) to streamline the review of new chemicals that are substitutes for petroleum-based fuels or fuel additives that use biobased or waste-derived sources to produce biofuels. Both Congressional and federal agency support for bioenergy and bioproducts are critical for building a resilient, dependable, and sustainable system that fosters innovation to develop a circular economy.

2022 Bergeson & Campbell, P.C.National Law Review, Volume XII, Number 77

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Water Authority confident in local water supply but still asks to conserve – CBS News 8

Posted: at 8:25 pm

California has experienced a historically dry January and February, with no significant storms forecast for March.

SAN DIEGO California's Department of Water Resources Friday announced that due to the ongoing statewide drought, it must reduce the State Water Project allocation to 5% of requested supplies for 2022, but San Diego County Water Authority officials said they remain confident in the region's supply.

DWR previously set the allocation at 15% but a historically dry January and February, with no significant storms forecast for March, required a reduction in the allocation to conserve available water supply, a statement from the state agency read.

"Today's announcement about reduced allocations from the State Water Project brings into focus the increasing challenges created by the megadrought," said Sandra L. Kerl, general manager of the San Diego County Water Authority. "This is an emergency felt throughout the state and we strongly support continued conservation.

"Reduced water deliveries from the State Water Project highlight how the San Diego region's conservation ethic combined with investments in drought- resilient supplies are paying off," Kerl said. "The region uses very little water from the Bay-Delta, and even with reduced allocations, the Water Authority has reliable water supplies for 2022 and beyond."

In addition to the 5% allocation, DWR will also provide any unmet critical health and safety needs of the 29 water agencies that contract to receive State Water Project supplies.

"We are experiencing climate change whiplash in real time with extreme swings between wet and dry conditions," said DWR Director Karla Nemeth. "That means adjusting quickly based on the data and the science.

WATCH RELATED: Will the rain this week in San Diego impact the drought? (Feb. 2022).

"While we had hoped for more rain and snow, DWR has been preparing for a third consecutive year of drought since October," Nemeth said. "We are continuing with a series of actions to balance the needs of endangered species, water supply conservation and water deliveries for millions of Californians."

In a letter to the State Water Contractors earlier this month, Nemeth stressed the need for proactive conservation measures now to prepare for ongoing extreme dry conditions.

DWR will make its next assessment of the State Water Project allocation following the next snow survey on April 1. A final allocation for the water year is typically announced in May or June.

The lack of significant precipitation in January and February has resulted in falling reservoir levels and reduced snowpack. As of Friday, statewide reservoir levels are about 70% of average, according to DWR figures. The statewide Sierra snowpack has fallen to 55% of average for this date, most of that snow coming from heavy snowstorms in December.

Gov. Gavin Newsom has called on all Californians to voluntarily reduce their water use by 15% with simple measures to protect water reserves.

The state is also taking action to support communities facing water supply challenges due to the ongoing drought. DWR is providing direct community assistance for drought relief projects and to communities who need it most to address water supply challenges and help build local resilience. To date, DWR has awarded more than $196 million in drought relief funding to communities throughout the state.

Locally, the water authority had tips to help with the drought.

"During this extended drought, we urge residents and businesses to use water wisely by limiting showers to five minutes, fixing indoor and outdoor water leaks, and ensuring irrigation systems are working efficiently," Kerl said. "We must continue to care for our most precious natural resource to sustain our economy and quality of life -- not just for today but for our future."

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How the Eusocial Nature of Ants Influences Their Response to Climate Change – AZoCleantech

Posted: at 8:23 pm

Climate change impacts all species on the planet in one way another, and now a group of researchers at the University of Liverpool have turned their sights towards a study on how different ant populations are impacted by and respond to a changing climate.

Image Credit: Shutterstock.com/frank60

Ants are one of the most prevalent insects on the planet, in both number and biomass, found on every continent, except for Antarctica, playing a key role in their environment.

While ants contribute to important ecological processes such as turning and aerating soil to allow water and oxygen to access the roots of plants, their reaction to a changing climate is, for the most part, unknown.

The University of Liverpool researchers have conducted a review of the existing academic literature and studies published, which largely related to the response of ants towards temperature changes.

Publishing their own findings and response in the journal Global Change Biology, the team address how eusociality could allow ants to adapt to, or even tolerate, climate change in ways that lone or isolated organisms cannot while identifying central geographic and phylogenetic hotspots of climate vulnerability and resistance.

How climate change affects ant populations and the wider impact this will have on the ecosystem is not particularly well understood. This study sheds new light on this issue. Ants are the most dominant insect in almost all ecosystems and play key roles in many ecosystem processes so any changes to their abundance and loss of some species will therefore have cascading consequences through the ecosystem.

Kate Parr, Ecologist, a University of Liverpool

Eusociality typically refers to the highest level of sociality organization. Eusocial species usually demonstrate the following characteristics: cooperativebroodcare (including care of offspring from other individuals), multiple generations within a colony of adults, and labor division into reproductive and non-reproductive groups.

Ants are extremely social insects that live in complex, organized colonies that vary in size, with a large body of non-reproductive worker ants typically serving a system that supports a smaller number of reproductive ants. There are those species that move further beneath the surface of the earth to reach lower temperatures to reproduce, while other colonies prefer warmer climes.

As solitary species must commit to a mode of survivalism in which they build their own nests, forage for food, lay eggs, etc., ant colonies do each of these tasks simultaneously, for example, in series-parallel.

It is this eusocial nature that may, in fact, allow ants to better adapt to climate change when compared to other solitary species.

Our research highlights those species and regions at risk from climate change but also those that may be capable of adapting to it. However, further research is needed in particular to better understand how ants respond to altered precipitation, CO2, or UV regimes and how this affects the wider ecosystem.

Kate Parr, Ecologist, a University of Liverpool

The team was able to determine that those species living in more tropical environments, especially in canopy/rainforest habitats, would be vulnerable to a changing climate and rising global temperatures. The team identified that future research and work should focus on these regions to better understand the impact and response of ant communities.

Minimal impacts are expected for those species that demonstrate the capacity to take advantage of their eusocial behavior to avoid increased temperatures for significant parts of their developmental and foraging activities. There could even be some benefit for some species, yet it is not known how ants will adjust to changes in precipitation, CO2 or UV regimes.

Furthermore, how various climatic changes will branch out through the complex food chain and intricate mutualistic networks of which ants are a key component are generally unknown, but the researchers expect that they could have a significantly profound influence on both ant colonies and the wider ecosystem.

As ants are ectothermic - they do not generate their own internal heat - they are reliable on and vulnerable to outside temperatures and climate change.

Therefore, the University of Liverpool researchers also suggest further investigations into the wider impact and contributions the eusociality of different ant species make to their surrounding habitat and ecosystem.

Parr, C. and Bishop, T., (2022) The response of ants to climate change.Global Change Biology, [online] Available at: https://onlinelibrary.wiley.com/doi/10.1111/gcb.16140

News. (2022)Social nature of ants provides protection from climate change - University of Liverpool News. [online] Available at: https://news.liverpool.ac.uk/2022/03/11/social-nature-of-ants-provides-protection-from-climate-change/

Disclaimer: The views expressed here are those of the author expressed in their private capacity and do not necessarily represent the views of AZoM.com Limited T/A AZoNetwork the owner and operator of this website. This disclaimer forms part of the Terms and conditions of use of this website.

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13 Things to do in Las Vegas this week: March 18-24 – KTNV 13 Action News Las Vegas

Posted: at 8:22 pm

LAS VEGAS (KTNV) Between St. Patrick's Day celebrations and March Madness bracket parties, there's no shortage of things to do in Las Vegas this week even for those who'd prefer to stay out of the sports and St. Paddy's Day fray. Here are 13 things happening in town:

St. Baldrick's Day head-shaving at New York-New York The St. Baldrick's Foundation brings the community together in the crusade against childhood cancer with its 13th annual head-shaving event. Throughout the day, some of the citys most celebrated names in entertainment will take the stage to serve as celebrity head-shavers for those bold enough to brave the shave for the St. Baldrick's Foundation. Morning Blend host JJ Snyder will be there to emcee at 11 a.m. on Saturday.

New Nacho Daddy celebrates grand opening weekendNacho Daddy, the popular Las Vegas restaurant, returns to its Henderson roots with the grand opening of a new location on St. Rose Pkwy. Nacho-lovers from Silverado Ranch to Inspirada can now enjoy the unique nacho collisions, vegan options, flaming fajitas and award-winning margaritas Nacho Daddy has to offer, much closer to home.

Vegas Knight Hawks debut game at Dollar Loan Center Las Vegas' newest professional sports team, the Vegas Knight Hawks, play their first game in franchise history at the new Dollar Loan Center in Henderson.

Said the Sky at Craig Ranch Amphitheater Playing piano and various instruments since the age of eight, Colorado native Trevor Christensen is coming forward with a fresh perspective on music. Bringing a melodic background and technical training into his work, he is able to capture everything beautiful in what people know as electronic dance music (EDM).

Grand opening and cookie-eating contest at Pucks Cookies & Treats A new, hockey-inspired treat shop opens at The District at Green Valley Ranch on Friday, with additional festivities and a cookie-eating contest on Saturday. There will be a live DJ, roller dancer and other entertainers, and giveaways.

Ladies' night bar crawl at CircaDowntown Las Vegas' adults-only hot spot is offering a ladies-only bar hop with stops at Stadium Swim, Legacy Club, Vegas Vickie's and Overhang Bar. Bar crawl reservations include drink tickets for all four locations, which you can visit in any order you want.

Raider Image tent sale at Allegiant Stadium Get some of the "best savings of the year" on officially licensed Las Vegas Raiders gear and merchandise with a three-day tent sale on the grounds of Allegiant Stadium. Select from more than 20,000 units of Raiders gear, including some exclusive merchandise, at discounts of up to 60% off.

Waka Flocka Flame at Daylight Beach Club This week, LIT Sundays at Daylight Beach Club features rapper and hip-hop artist Waka Flocka Flame, with support from local DJ Maria Romano.

Market in the Alley at Fergusons Downtown Shop from more than 70 local businesses and creators at the monthly market hosted by Fergusons Downtown and Market in the Alley. From candles and home goods to vintage clothing and jewelry, plus art and food, there's something for everyone.

Limited-time menu pairing at Saffron, The Vegetarian Eatery to benefit non-profit Chai Lai OrchidSaffron, The Vegetarian Eatery in Las Vegas' Chinatown announced a fundraising initiative in support of the Chai Lai Orchid, an elephant sanctuary that combats exploitation and trafficking by providing homes, education and employment to marginalized women. Restaurant owners will donate 100% of the proceeds from this limited-time menu pairing to the non-profit organization. The Chai Lai Orchid menu pairing includes Chai Lai Money Bags and the Blue Elephant martini.

Kabir Singh at L.A. Comedy Club Kabir Kabeezy Singh is the headliner at L.A. Comedy Club inside The STRAT Hotel, Casino & SkyPod from March 21 through March 27. Singh was a semi-finalist on "America's Got Talent" and has almost a decade of experience as a touring headliner, with his stand-up airing on The Starz Network, FOX, and Comedy Central.

New trivia nights at Tailgate SocialGroups of up to eight people have the chance to win prizes ranging from free pitchers of beer to Vegas Golden Knights tickets, every Thursday at Tailgate Social. The classic categories include sports, music, history and pop culture.

Order a cocktail for a cause at Kassi Beach House Kassi Beach House is celebrating Women's History Month with a signature cocktail: the Notorious RBG, made with Empress Gin, blackberry, sage and lime. Ten percent of the proceeds from each cocktail sold will be donated to The Shade Tree, a women's and children's shelter in Las Vegas.

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Police: I should have shot you in the face, Las Vegas corrections officer says after kicking girlfriend down stairs – KLAS – 8 News Now

Posted: at 8:22 pm

Girlfriend feared reporting officer boyfriend after he strangled her, police say

LAS VEGAS (KLAS) The Las Vegas Metropolitan Police Department has released the arrest report of corrections officer Christopher Wilson, 36, who faces several domestic violence charges after strangling his girlfriend.

Police said detectives responded to an email they received from a woman on March 14 saying shed been in a fight with her boyfriend and feared filing a report because he was an LVMPD police officer, the report said.

The woman told police she had been dating Wilson for almost two years, having a brief breakup in January before getting back together in February, police say. Shortly after reconciling, the couple took an international trip, and days after returning, Wilson had been jealous of men she had communicated with during their breakup, according to the report.

Shortly after returning from their trip, Wilson had asked to see his girlfriends text and social media messages. On March 11, the woman allowed Wilson to go through her phone, and after reading one of her messages to a man, Wilson became extremely upset. The woman tried to explain the message was innocent and denied any connection with her and the other man, police said.

Wilson became enraged and pushed his girlfriend on the bed and straddled her, making it impossible for her to move, and then pressed his hands on her throat to the point where she could hardly speak or get a breath in, according to police.

The woman tried to break free but was unable. Eventually, Wilson took his hands off her throat, and both got off the bed. She then threw her phone at Wilson, yelling at him to reread the text. The phone hit the side of his face, giving him a small cut near his left eye, police said.

The woman then grabbed her phone and belongings and walked out of the room. Wilson followed behind her and kicked her in the back, making her fall down a flight of stairs. As she picked up her things, Wilson told her, I should have shot you in the face, I should have pistol-whipped you in the face, according to the report.

The woman rushed out the door, got in her car, and drove to her sisters home. She tried calling 311 but hung up twice out of fear. Later that day, she went to the hospital and decided to email the police days later.

The woman did undergo a Sexual Assault Nurse Examiner exam at UMC, and preliminary findings showed positive signs of strangulation.

On March 15, police found Wilson and took him to Metro headquarters for questioning, but Wilson declined to speak with detectives, the report indicated.

Wilson was arrested for domestic battery and faces two counts of domestic battery by strangulation and one count of domestic battery.

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Police ID driver in hit-and-run crash that killed man crossing the street near Las Vegas Strip – KTNV 13 Action News Las Vegas

Posted: at 8:22 pm

LAS VEGAS (KTNV) Police say they've identified the driver believed to be involved in a hit-and-run crash that killed a man crossing the street not far from the Las Vegas Strip.

The crash happened around 12:37 a.m. on Harmon Avenue at Cameron Street, west of The Strip.

The man hit was walking in a marked crosswalk, according to authorities. He was pronounced dead on the scene and his identity will be released by the coroner's office. Police say he is 60 years old.

Authorities say the driver did not stop after the crash. As of 3 p.m. Thursday, police had located the driver's vehicle and they said the driver had been identified.

Las Vegas Metropolitan Police Department

Police urged anyone with information about this crash to call the Las Vegas Metropolitan Police Department at 702-828-3786.

To remain anonymous, call Crime Stoppers at 702-385-5555, visit crimestoppersofNV.com, or use the mobile app "P3." Message and data rates may apply.

The man's death marks the 31st traffic-related death in LVMPD's jurisdiction for the year 2022.

The crash remains under investigation.

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Las Vegas Sands: A Buy As China Is Forced To Reevaluate The Country’s Zero Tolerance Policy – Seeking Alpha

Posted: at 8:22 pm

ihsanyildizli/iStock Unreleased via Getty Images

Uncertainty almost always creates volatility in markets. When traders and investors don't have a clear picture of what a company's earnings will look like, usually even the slightest news story can move the company or sector the company is in significantly.

There is significant near-term uncertainty in the Chinese gambling sector in Macau right now, and no U.S. gambling operator is impacted more this near-term uncertainty than Las Vegas Sands (NYSE:LVS).

Las Vegas Sands is a $52 billion casino and gaming company that operates worldwide. The company usually generates nearly 60% of EBITDA from Macau, and much of the company's most impressive recent growth has come from Macau. Sands has often earned nearly 29% of its revenue from Singapore.

Las Vegas Sands is one of the best managed companies in the gambling industry and the company's various management teams have run the company well through various tough times over the years. Las Vegas Sands has dealt with money laundering investigations, the possibility of a trade war when Trump came in, and the recent Covid related issues. Each time the company has dealt with these the stock has sold in the range of $30-40 a share, which is where the current share price. Each sell-off has also been a buying opportunity, I don't think this time is any different.

Data by YCharts

Las Vegas Sands is high volatility stock that often sells off hard during times of uncertainty, and rallies hard when market conditions turn more positive.

The main challenge that Las Vegas Sands is facing right now is China's zero tolerance approach to Covid has effectively prevented Macau from being able to function normally, as traveling to Macau is very difficult for foreigner with China's current policies. Foreign visitors without exemptions are currently prohibited from traveling to Macau. There was a 14-day period of medical observation for foreigners travelling to Macau even before the most recent lockdown as well.

The gambling industry was also impacted by China's common prosperity agenda that emphasized curbing excesses of wealth, since the wealth gap in China, like most economies, became wider during the lockdowns. This policy was President Xi's focus on curbing economic and social inequality by cutting down on excess wealth, and obviously the Macau gambling scene, which caters to high rollers, is place where many elites go.

China also was and continues to be extremely strict about Covid going in the Olympics, and the world's second largest economy is still very strict about dealing with Covid cases even as Europe, the US, and much of the world, continues to open up.

Still, despite China's very strict zero tolerance policies, there are some important positive signs for the long-term outlook of China's gambling industry.

Six major licenses in Macau were recently extended for companies in Macau, including Las Vegas Sands. These companies will go through the formal application process for a longer-term renewal of their licenses next year. More importantly, there are increasing signs that China is repositioning away from their zero covid policy towards a more flexible approach.

The Wall Street Journal recently reported that China is looking for an approach that includes living with the virus. "In the near future, at an appropriate time, there will be a Chinese-style roadmap for living with the virus," noted Zeng Guang, China's former chief epidemiologist at the Chinese Center for Disease Prevention and Control. This article noted that China is looking at measures that include travel bubbles, mRNA vaccines, and better treatments for Covid.

Now that the Olympics are over and China's recent economic growth numbers came in at a very low 4.9% rate last quarter, as the country's massive stimulus that was enacted over the last several years comes to an end. China's economy grew at a 7.9% rate the previous quarter, and this data suggests that China will have to open up the economy to maintain normal high single digit economic growth.

Las Vegas Sands remains optimistic as well.

Rob Goldstein, the CEO of Las Vegas Sands, remained similarly optimistic over the company's long-term prospects in the region as well. He recently expressed strong optimism about Macau on the company's recent earnings calls as well. The Las Vegas Sands CEO said, "I think our activities, our investments speak for themselves. I have faith in the process. They've always treated us fairly, and we responded with the largest investment in any gaming market in the world. So, we believe we remain believers."

The stock is also not expensive looking at historical valuations, even though the company's earnings remain stressed. Las Vegas Sands has a very strong balance sheet, and the company has consistently been able to earn over $3 a share, with 2019 earnings coming in at $3.50 a share. This company has also been able to consistently grow earnings at a double-digit rate and maintain impressive margins of over 50%. At the current share price of $37 a share, this company trades at just over 10x pre-pandemic earnings.

China has been much stricter than any other G-8 country during the pandemic, and the recently flare up in the world's second largest economy highlights near-term risk. Still, China's economy is slowing dramatically, and the country will have to open up in the back half of the year if the Chinese government wants to maintain the kind of necessary economic growth required to sustain the country's standard of living. Well fear and volatility levels in the Chinese gambling sector are likely to remain elevated for some time, patient investors with a long-term outlook should be rewarded.

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Flying into spring with colorful new display along the Las Vegas Strip – KLAS – 8 News Now

Posted: at 8:22 pm

LAS VEGAS (KLAS) Spring has officially sprung along the Las Vegas Strip as the Bellagio casino and resort unveiled its latest display at the conservatory and botanical gardens.

The latest display for the resort is titled, Flights of Fancy, and is now on display through May 14.

The spring display features different types of flight including, hot air balloons, hummingbirds, and butterflies all on a colorful spring palette of purples, pinks, yellows, and blues.

Once visitors arrive at the conservatory, they will be quickly whisked away into a magical area filled with soft floral scents and whimsical music.

A bridge of moving clouds, created with special effects beneath a hand-painted floor can be seen as visitors first enter the display.

Ed Libby along with the Bellagio horticulture and engineering teams are behind this seasons spring theme.

The spring exhibit features fanciful flying creatures and a festival of balloons outfitted in high-fashion colorsinspired by the 2022 runways, said Libby. The focal point in each bed are hot air balloons which symbolize freedom and independence, and the variety and beauty of each balloon and bed will entice guests to take a walk through the clouds and capture all of the picture-perfect details throughout the display.

Colorful oversized butterflies elegantly soar above and throughout the East Bed surrounding a 34-foot-tall pink and pastel green floral hot air balloon elegantly adorned with theBellagioB.

A list of the number of florals on display through May is listed below.

The Conservatory and Botanical Gardens display is complimentary to the public and opens 24 hours a day, seven days a week.

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Flying into spring with colorful new display along the Las Vegas Strip - KLAS - 8 News Now

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