Superior Group of Companies

Mar 7, 2023

Today at 06:17 am Share Sustainable funds that invest based on factors such as companies' carbon footprints and workforce diversity attracted new investment in 2022, despite a broad market selloff that punished many sectors. Investments into U.S. sustainable funds including stocks, bonds and other categories fell to $3.1 billion in 2022 from $69.2 billion a year earlier, according to Morningstar. Conventional funds that don't consider environmental, social or governance factors, also known as ESG, suffered more than $370 billion in withdrawals last year. Rising Rates Squeeze Small Town Borrowers Rising interest rates are squeezing cash-strapped towns and school systems that use short-term borrowing to keep cash flowing while they wait for property tax dollars to come in. A-rated cities and school districts are paying 3.16% for a one-year loan issued March 3, compared with 0.21% at the beginning of 2022, according to data from Refinitiv MMD. In places where local budgets are already burdened by inflation, rising borrowing costs add to the pressure to raise taxes or cut services. Australia's Central Bank Raises Rates, but a Pause Could Be Coming SYDNEY-Australia's central bank raised interest rates for the 10th consecutive time, but indicated there had been progress made in taming inflation and that increases could be nearing an end. On Tuesday, the Reserve Bank of Australia raised its official cash rate by a quarter point to 3.60%, the highest level in more than a decade. But it said the monthly consumer-price index suggested that inflation had peaked and the bank tempered language surrounding its plans for further monetary tightening. China's Foreign Minister Says Ties With U.S. Risk Going Off the Rails BEIJING-China's foreign minister warned that the U.S. strategy toward China risked plunging the countries into conflict and pledged to continue responding strongly to what he viewed as persistent attacks on Beijing by Washington. In a press conference Tuesday on the sidelines of China's annual gathering of its National People's Congress in Beijing, Qin Gang said the Biden administration is being insincere when it says it wants to erect guardrails around the relationship, warned the U.S. against engaging in "new McCarthyism" and praised China's ties with Russia. German Factory Orders Unexpectedly Rose in January on Higher Aircraft Demand New orders at German factories increased in January for the second month in a row boosted by the more-volatile component of aircraft orders, but the outlook for the country's manufacturing sector remains clouded by rapidly rising interest rates. Manufacturing orders rose 1% in January compared with the previous month, according to price-adjusted data from the German statistics office Destatis published Tuesday, beating the 1% drop expected by economists in a poll from The Wall Street Journal. Biden Administration Considers Detaining Migrant Families to Manage Expected Border Surge The Biden administration has held meetings in recent days to discuss detaining migrant families who cross the border illegally, as officials prepare to put in place more restrictive border-control measures to counter an expected surge in migrants, according to people familiar with the discussions. Administration officials have discussed various border policy proposals, ahead of the end of Title 42, which allowed authorities to rapidly expel asylum-seeking migrants who crossed the border illegally, those people said. Reversing the Biden administration's current policy and detaining migrant families has been one of the proposals discussed. D.C. Tries to Stop Senate From Voting on Crime-Code Overhaul The chairman of the Washington, D.C., Council said he is seeking to withdraw the city's criminal-code revision from Congress, aiming to head off an expected vote by the Senate this week to block the local law. But the effort to avoid the first formal disapproval of a D.C. law in more than three decades failed, with Senate Majority Leader Chuck Schumer (D., N.Y.) saying that the vote would take place on Wednesday as planned. Write to paul.larkins@dowjones.com TODAY IN CANADA Earnings: Stocks to Watch: BlackBerry Preliminary FY23 Rev Seen at About $656M; IoT Business Unit FY23 Rev Seen at $206M, Up 16% on Yr and in Line With Guidance; Cybersecurity Unit FY23 Rev Seen at $418M, Below Guidance Due to Some Large Govt Deals Slipping Into FY24; Licensing & Other Unit FY23 Rev Seen at $32M; 4Q Total Rev Seen at $151M; IoT Rev at $53M; 4Q Cybersecurity Rev Seen at $88M, With Billings Up for Third Straight Quarter; 4Q Licensing & Other Rev Seen at $10M; Results to Include One-off Goodwill Impairment Chg of Up to $440M for Spark Reporting Unit; Reviewing Long-Term Cybersecurity Unit Targets, Aims to Provide Revised Ones on or Before May 17; to Provide Fiscal 2024 Outlook on March 30 Earnings Call --- Wajax 4Q Rev C$541.3M; 4Q Basic EPS C$0.78; 4Q Adjusted Basic EPS C$0.83; Raises Dividend to C$0.33 Vs. C$0.25 Expected Major Events for Tuesday 00:01/UK: Feb BRC-KPMG Retail Sales Monitor 07:00/GER: Jan Manufacturing orders 08:59/JPN: Jan Provisional Labour Survey - Earnings, Employment & Hours Worked 11:00/FRA: Jan OECD CPI 15:00/US: Mar IBD/TIPP Economic Optimism Index 15:00/US: Jan Monthly Wholesale Trade 20:00/US: Jan Consumer Credit 23:50/JPN: Feb Bank Lending 23:50/JPN: Feb International Transactions in Securities 23:50/JPN: 4Q Quarterly External Debt & International Investment Position All times in GMT. Powered by Onclusive and Dow Jones. Expected Earnings for Tuesday AFC Gamma Inc (AFCG) is expected to report for 4Q. Alaunos Therapeutics Inc (TCRT) is expected to report $-0.05 for 4Q. Barnes & Noble Education Inc (BNED) is expected to report $-0.08 for 3Q. BioAtla Inc (BCAB) is expected to report for 4Q. Cohen & Co Inc (COHN) is expected to report for 4Q. CorEnergy Infrastructure Trust Inc (CORR) is expected to report for 4Q. Corbus Pharmaceuticals Holdings Inc is expected to report for 4Q. Dawson Geophysical Co (DWSN) is expected to report for 4Q. Dick's Sporting Goods Inc (DKS) is expected to report $2.82 for 4Q. ESAB Corp (ESAB) is expected to report for 4Q. Enfusion Inc (ENFN) is expected to report for 4Q. FTI Consulting (FCN) is expected to report $1.67 for 4Q. First Watch Restaurant Group Inc (FWRG) is expected to report for 4Q. InterRent Real Estate Investment Trust (IIP.UN.T,IIPZF) is expected to report for 4Q. Ivanhoe Mines (IVN.T) is expected to report $0.09 for 4Q. Kopin (KOPN) is expected to report $-0.05 for 4Q. Landsea Homes Corp (LSEA) is expected to report for 4Q. Latham Group Inc (SWIM) is expected to report for 4Q. Magenta Therapeutics Inc (MGTA) is expected to report $-0.29 for 4Q. Matinas BioPharma Holdings Inc (MTNB) is expected to report $-0.03 for 4Q. McEwen Mining (MUX,MUX.T) is expected to report for 4Q. Neuronetics Inc (STIM) is expected to report $-0.30 for 4Q. OptiNose Inc (OPTN) is expected to report $-0.16 for 4Q. Paramount Resources (POU.T,PRMRF) is expected to report $1.14 for 4Q. Precigen Inc (PGEN) is expected to report for 4Q. Purple Innovation Inc (PRPL) is expected to report $-0.05 for 4Q. SOPHiA GENETICS SA (SOPH) is expected to report for 4Q. Seres Therapeutics Inc (MCRB) is expected to report $-0.46 for 4Q. Squarespace Inc (SQSP) is expected to report for 4Q. Superior Uniform Group Inc (SGC) is expected to report $0.19 for 4Q. Thor Industries (THO) is expected to report $0.99 for 2Q. UFP Technologies Inc (UFPT) is expected to report $0.91 for 4Q. Vivid Seats Inc (SEAT) is expected to report for 4Q. Voyager Therapeutics Inc (VYGR) is expected to report $-0.55 for 4Q. Westwater Resources Inc (WWR) is expected to report for 4Q. XOMA Corp (XOMA) is expected to report $-1.11 for 4Q. Xtant Medical Holdings Inc (XTNT) is expected to report $-0.17 for 4Q. Zevra Therapeutics Inc (ZVRA) is expected to report for 4Q. Zynerba Pharmaceuticals Inc (ZYNE) is expected to report $-0.19 for 4Q. Powered by Onclusive and Dow Jones. ANALYST RATINGS ACTIONS Allied Motion Cut to Market Perform From Outperform by Northland Capital Markets DR Horton Cut to Neutral From Overweight by JP Morgan Embark Technology Cut to Hold From Buy by Vertical Research Emerson Electric Raised to Buy From Neutral by UBS HashiCorp Raised to Buy From Hold by Needham Healthcare Realty Cut to Neutral From Outperform by Credit Suisse KB Home Cut to Underweight From Overweight by JP Morgan Meritage Raised to Overweight From Neutral by JP Morgan Meta Platforms Cut to Sell From Neutral by Arete Research Monster Beverage Raised to Buy From Neutral by Redburn Partners Praxis Precision Med Cut to Market Perform From Outperform by William Blair Qualtrics International Cut to In-Line From Outperform by Evercore ISI Group REV Group Raised to Outperform From Neutral by Baird RH Cut to Hold From Buy by Jefferies Silvergate Capital Cut to Underperform From Neutral by Wedbush Southwest Gas Cut to Underweight From Sector Perform by RBC Capital Sprouts Farmers Market Cut to Hold From Buy by R5 Capital Vir Biotechnology Raised to Overweight From Neutral by JP Morgan Wendy's Cut to Neutral From Buy by Northcoast Research (MORE TO FOLLOW) Dow Jones Newswires 03-07-23 0616ET