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Crescent Point Energy

Veren Inc is an oil producer company. It is engaged in acquiring, developing, and holding interests in petroleum assets operations across western Canada.

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Pembina Pipeline Corporation (NYSE: PBA), a Canada-based oil and gas storage and transportation company, has announced a major acquisition through its joint venture Pembina Gas Infrastructure Inc. (&#34;PGI&#34;).

Pembina Pipeline to Acquire Veren&#39;s Midstream Assets in C$400M Deal

Veren Inc

Verona Pharma plc - American Depositary Shares

Verona Pharma PLC

VERANO HLDGS CORP by Verano Holdings Corp.

Verano Holdings Corp

Varonis Systems Inc

Verint Systems Inc

Fine Fettle, Norwalk&#8217;s first <a href="https://www.benzinga.com/cannabis">cannabis</a> dispensary, is facing a solar energy conundrum. The company is asking the city's Planning and Zoning Commission to waive a solar panel installation requirement at its 191 Main St. site, citing feasibility issues that could impact its bottom line. As <a href="https://www.ctinsider.com/cannabis/article/norwalk-fine-fettle-cannabis-solar-panels-19747688.php">reported</a> by CT Insider, the dispensary, which opened in March 2024, was initially granted a <a href="https://drive.google.com/file/d/1N4b-i6hZvlWTKTtkVJp7B2mnsL34WmfY/view">special permit</a> in 2023, contingent on installing rooftop and covered parking solar panels or providing a feasibility report explaining why it couldn&#8217;t comply.
Ahead of the Commission's September 5 meeting, Fine Fettle chief operating officer Ben Zachs submitted calculations highlighting the challenges. According to Zachs, rooftop solar panels are not financially viable for the site, as shading from a nearby tree significantly limits potential energy output. "This is not a philosophical issue, it's a feasibility issue of having a small roof with a tree blocking it and not wanting to spend money on something that's going to take longer than our rent to pay back," Zachs explained during the meeting.
<h3 class="wp-block-heading">Solar Feasibility And Financial Hurdles</h3>
Fine Fettle&#8217;s request stems from concerns that the investment required for solar installation won&#8217;t provide sufficient financial returns within the 10-year lease term for the property. The company&#8217;s estimates, based on assessments from solar firms, suggest that rooftop solar would only generate about 6,500 kWh annually—far below the National Renewable Energy Laboratory&#8217;s (NREL) projections of over 49,000 kWh. The discrepancy is largely attributed to shading from the tree, which Fine Fettle does not own and cannot remove.
CTEC Solar, the Bloomfield-based company that provided Fine Fettle's estimate, also advised against moving forward with the project. "We are not advising moving forward with this project as Fine Fettle's usage is much greater (than 6,500 kWh), and the financial benefits do not align," said CTEC owner and president Mickey Toro in a letter included in the commission's memo.
Fine Fettle's internal calculations, using CTEC&#8217;s figures, estimate a return on investment (ROI) of only 2.4%, with costs balanced out over a span of 40 years—well beyond the company's current lease term. Another solar company, Telyon, declined the project entirely, citing a similarly low ROI of 2.9%.
<h3 class="wp-block-heading">Parking Lot Dilemma</h3>
Beyond the rooftop challenges, the commission suggested Fine Fettle explore solar panel installation in the adjacent parking lot, which is owned by the same lessor. However, Zachs expressed concerns about losing valuable parking spaces. "We generally have about nine to 11 of our 74 open hours a week where we are using all of the parking spots, and there are people circling around," he said, emphasizing the operational impact of reducing parking capacity.
The commission previously approved a landscaping feature that could replace two parking spaces, but Zachs requested that the condition be waived, citing the current parking demand.
<h3 class="wp-block-heading">The Path Forward</h3>
While Fine Fettle does not oppose solar energy—the company uses solar power at its other locations in <a href="https://www.benzinga.com/topic/connecticut-cannabis">Connecticut</a>—it insists that the Main St. site presents unique challenges that make solar installation financially and operationally impractical. Despite this, the commission&#8217;s memo indicated that the company's calculations did not fully meet the feasibility condition, which requires a comprehensive ROI summary including cost, production and payoff details.
Cover image made with AI

Cannabis

Psychedelics

Norwalk, CT's First Cannabis Dispensary Faces Solar Panel Dilemma: Tree Shade And Low ROI Hinder Compliance

Momentum investing is essentially an exception to the idea of &quot;buying low and selling high.&quot; Investors following this style of investing are usually not interested in betting on cheap stocks and waiting long for them to recover. Instead, they believe that &quot;buying high and selling higher&quot; is the way to make far more money in lesser time.
Who doesn&#39;t like betting on fast-moving trending stocks? But determining the right entry point isn&#39;t easy. Often, these stocks lose momentum once their valuation moves ahead of their future growth potential. In such a situation, investors find themselves loaded up on expensive shares with limited to no upside or even a downside. So, going all-in on momentum could be risky at times.
A safer approach could be investing in bargain stocks with recent price momentum. While the Zacks Momentum Style Score&nbsp;helps identify great momentum stocks by paying close attention to trends in a stock&#39;s price or earnings, our &#39;Fast-Paced Momentum at a Bargain&#39; screen comes handy in spotting fast-moving stocks that are still attractively priced.
DXP Enterprises (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/dxpe#NASDAQ">DXPE</a>) is one of the several great candidates that made it through the screen. While there are numerous reasons why this stock is a great choice, here are the most vital ones:
A dash of recent price momentum reflects growing interest of investors in a stock. With a four-week price change of 0.7%, the stock of this industrial products supplier is certainly well-positioned in this regard.
While any stock can see a spike in price for a short period, it takes a real momentum player to deliver positive returns for a longer time frame. DXPE meets this criterion too, as the stock gained 2.8% over the past 12 weeks.
Moreover, the momentum for DXPE is fast paced, as the stock currently has a beta of 1.6. This indicates that the stock moves 60% higher than the market in either direction.
Given this price performance, it is no surprise that DXPE has a Momentum Score of A, which indicates that this is the right time to enter the stock to take advantage of the momentum with the highest probability of success.
In addition to a favorable Momentum Score, an upward trend in earnings estimate revisions has helped DXPE earn a Zacks Rank #2 (Buy). Our research shows that the momentum-effect is quite strong among Zacks Rank #1 and #2 stocks. That&#39;s because as covering analysts raise their earnings estimates for a stock, more and more investors take an interest in it, helping its price race to keep up.
Most importantly, despite possessing fast-paced momentum features, DXPE is trading at a reasonable valuation. In terms of Price-to-Sales ratio, which is considered as one of the best valuation metrics, the stock looks quite cheap now. DXPE is currently trading at 0.47 times its sales. In other words, investors need to pay only 47 cents for each dollar of sales.
So, DXPE appears to have plenty of room to run, and that too at a fast pace.
<a href="https://www.zacks.com/stock/news/2336334/fast-paced-momentum-stock-dxp-enterprises-dxpe-is-still-trading-at-a-bargain?cid=CS-BENZ-FT-tale_of_the_tape|fast_paced_momentum_at_a_bargain-2336334">To read this article on Zacks.com click here.</a>

Earnings

DXPE

Fast-Paced Momentum Stock DXP Enterprises Is Still Trading at a Bargain

Vince Holding (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VNCE#NYSE">VNCE</a>) reported quarterly earnings of $0.05 per share which beat the analyst consensus estimate of $(0.25) by 120 percent. This is a 225 percent increase over losses of $(0.04) per share from the same period last year. The company reported quarterly sales of $74.17 million which beat the analyst consensus estimate of $68.22 million by 8.72 percent. This is a 6.80 percent increase over sales of $69.45 million the same period last year.

Earnings Beats

VNCE

Vince Holding Q2 EPS $0.05 Beats $(0.25) Estimate, Sales $74.17M Beat $68.22M Estimate

Management

TCPC

BlackRock TCP Capital Board Chairman And CEO Rajneesh Vig Will Resign Until Jan. 31, 2025; Phil Tseng Will Succeed Raj Vig As Chairman; Jason Mehring To Assume Role Of President

AAR And Defense Logistics Agency Land And Maritime Sign Supply Chain Alliance To Enhance Joint Support For U.S. Warfighter

Two weeks of the 2024 National Football League season are almost in the books with soaring interest from fans around the world, which could benefit media companies that <a href="https://www.benzinga.com/general/entertainment/23/10/35320588/nfl-viewership-dominates-ratings-for-broadcast-streaming-with-or-without-taylor-swift-fans-">have NFL rights.</a>
What Happened: Viewership figures are in for the first week of the NFL season along with the first "Thursday Night Football" game from Amazon.com Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) streaming platform Prime Video, which kicked off<a href="https://www.benzinga.com/general/entertainment/24/09/40841727/nfl-week-2-betting-odds-media-stocks-to-watch-will-josh-allen-stay-perfect-on-thursdays-can"> the second week.</a>
The first week saw NFL games average 21 million viewers, setting the highest opening-week average on record for the league.
Among the media companies that benefitted from the opening week of the NFL season were Comcast Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CMCSA#NASDAQ">CMCSA</a>), Paramount Global (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PARA#NASDAQ">PARA</a>)(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PARAA#NASDAQ">PARAA</a>), Fox Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FOX#NASDAQ">FOX</a>)(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FOXA#NASDAQ">FOXA</a>) and The Walt Disney Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIS#NYSE">DIS</a>).
Comcast had three prime-time games during the first week with the opening game on Sept. 5, a Peacock streaming exclusive on Sept. 6 and the opening weekend's Sunday Night Football game. Viewership for the opening kickoff game was 29.2 million, up 9% to last year's kickoff game, as <a href="https://www.hollywoodreporter.com/tv/tv-news/tv-ratings-nfl-returns-in-dominating-form-1236001230/">reported </a>by The Hollywood Reporter.
The Friday night Peacock exclusive game had an average of 14 million viewers. The opening Sunday Night Football game was watched by an average of 22.8 million people across NBC and Peacock.
Disney saw 20.5 million viewers for the first Monday Night Football game of the season across ABC, ESPN, ESPN2 and streaming platforms.
CBS and Fox also saw strong viewership for the Sunday afternoon games with Fox averaging an impressive 23.9 million viewers for the late Sunday afternoon national game between the Dallas Cowboys and Cleveland Browns, which was Tom Brady's Fox broadcast debut for broadcasting.
The second week of the NFL season kicked off with a ban with Amazon's first 2024 game seeing an average of 14.96 million viewers. The figure was the third largest Thursday Night Football game for Amazon ever and significantly ahead of the company's 2023 season average viewership of 11.8 million viewers.
Read Also: <a href="https://www.benzinga.com/general/entertainment/24/09/40776084/kendrick-lamar-to-perform-super-bowl-lix-halftime-could-apple-fox-and-universal-music-get-a">Kendrick Lamar To Perform Super Bowl LIX Halftime: Could Apple, Fox And Universal Music Get A Boost?</a>
Why It's Important: Media companies continue to shell out millions of dollars for national sports rights, especially the NFL.
The strong opening week viewership show exactly why, as having the rights to key NFL games can help with advertising revenue and also boost streaming subscribers.
In 2023, 93 of the top 100 most watched shows were NFL games, according to data from Nielsen. A <a href="https://variety.com/2023/tv/news/most-watched-shows-2023-ncis-oscars-blue-bloods-super-bowl-yellowstone-1235854795/">report </a>from Variety showed that 45 of the top 100 most watched primetime broadcasts in 2023 were NFL games.
While Disney, Fox and Paramount have benefitted from NFL rights for many years, Comcast could be one of the biggest beneficiaries for the 2024 season with the extra primetime game in the first week and the potential boost to its Peacock streaming platform.
Amazon signed a big streaming-only deal with the NFL that has benefitted the company with additional branding boost for Prime Video and also led to more sign-ups for the streaming platform.
The streaming company's NFL deal also led to other streaming companies ready to commit more to live sports rights, including rival streaming platform Netflix Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFLX#NASDAQ">NFLX</a>).
After years of focusing on what it calls sports adjacent programming of sports docuseries and specials, Netflix is now investing more in live sports content. The streaming giant will air its first NFL games in the 2024 season with two highly anticipated Christmas day matchups.
Netflix will stream the Kansas City Chiefs at Pittsburgh Steelers at 1 p.m. ET and the Baltimore Ravens at Houston Texans at 4:30 p.m. ET on Christmas Day. The games could provide a boost to Netflix's subscriber count, particularly its ad-supported plan which has been a large company focus.
For the NFL, media partners mean big dollars. For media partners, the NFL means big viewership and advertising money. A potential win-win for all parties involved.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/general/sports-betting/24/05/38909548/2024-nfl-schedule-unpacked-media-partners-win-taylor-swift-tour-dates-considered-new-betti">2024 NFL Schedule Unpacked: Media Partners Win, Taylor Swift Tour Dates Considered, New Betting Odds And More</a></li>
</ul>
Image: Shutterstock

Entertainment

Sports

AMZN

CMCSA

FOXA

NFLX

PARA

PARAA

NFL Games Dominate Week 1 Ratings, Start Week 2 With A Bang: Here These Companies Might Benefit

CMND

Clearmind Medicine Announces Announces Publication Of Patent Application Under Patent Cooperation Treaty For Ibogaine Combination Therapy

As of June 30, 2024, the Company&#39;s balance sheet included approximately&nbsp;$108 million&nbsp;of deposits, representing about&nbsp;2%&nbsp;of total deposits, and&nbsp;$31 million&nbsp;of loans, representing less than&nbsp;1%&nbsp;of total loans, related to its BaaS offerings.&nbsp;
The Company looks forward to providing additional detail on its&nbsp;third quarter&nbsp;earnings call in October.
As the Bank begins the process of working to support orderly transitions for its BaaS partner firms, the Bank is preliminarily targeting completion of the wind down of its BaaS business sometime in 2025.
The Bank expects to retain all personnel positions supporting the BaaS line of business, both through the wind down period and beyond, refocusing those roles on supporting the growth of its core banking operations.
&nbsp;

FISI

Financial Institutions Intends To Begin An Orderly Wind Down Of Its BaaS Offerings; Expects Financial Impact To Be Immaterial

WIIM

INTC

Intel shares are trading higher after the company announced a strategic collaboration with AWS to help advance US-based chip manufacturing.

RF Industries (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RFIL#NASDAQ">RFIL</a>) reported quarterly losses of $(0.01) per share which missed the analyst consensus estimate of $0.06 by 116.67 percent. The company reported quarterly sales of $16.800 million which missed the analyst consensus estimate of $17.843 million by 5.85 percent. This is a 7.33 percent increase over sales of $15.652 million the same period last year.

Earnings Misses

RFIL

RF Industries Q3 2024 Adj. EPS $(0.01) Misses $0.06 Estimate, Sales $16.800M Miss $17.843M Estimate

Last week, the Biden administration <a href="https://www.benzinga.com/markets/asia/24/09/40856820/biden-hikes-tariffs-on-chinese-goods-alibaba-jd-com-stocks-drop">locked in a package of steep tariffs on Chinese goods</a>, including a 100% tax on electric vehicles made in China.&nbsp;
The new tariffs also cover Chinese solar panels, EV batteries, steel, aluminum and other key minerals as part of a larger effort to relocate manufacturing, boost U.S. jobs and incentivize sales for American carmakers.
The move also comes six weeks before the <a href="https://www.benzinga.com/topic/2024-election">November election</a>, where Michigan, home of the American car industry, continues to be a battleground state.&nbsp;
Detroit is still the home base for two of the Big Three automakers, General Motors Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GM#NYSE">GM</a>) and Ford Motor Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/F#NYSE">F</a>).
Protectionist policies are a direct response to calls for relief for U.S. carmakers. Earlier this year, Ford executives <a href="https://www.benzinga.com/markets/asia/24/03/37469245/beijing-vs-detroit-chinese-ev-innovation-speed-could-smash-tariff-barriers-and-invade-us-auto-sector">warned that a flood of Chinese EV would mean the demise</a> of the U.S. auto industry. The sentiment was echoed by Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) CEO Elon Musk.
As Chinese automakers like BYD Company (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BYDDY#OTC">BYDDY</a>) and Nio Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NIO#NYSE">NIO</a>) expand their market share across Europe, Asia, and the Middle East, protectionist policies are increasingly viewed as a response to rising competition, both by government officials and automotive executives.
But what if they aren't?
A Bloomberg <a href="https://www.bloomberg.com/news/articles/2024-09-16/how-can-us-beat-china-in-affordable-evs-copy-byd?srnd=homepage-americas&amp;sref=TBDibEcD">report</a> argues that letting Chinese companies in could be the lifeline that U.S. carmakers need in a time of stagnating growth.
Electric vehicles have surpassed 50% of all new car sales in China this summer. But for the U.S. that figure<a href="https://www.benzinga.com/news/24/08/40624770/us-ev-sales-in-2024-to-reach-only-9-amid-slower-growth-marking-a-significant-drop-from-12-estimate-r"> is less than 10% and has slowed down from previous years</a>.
EV sales in the U.S. are significantly outpaced globally, where electric vehicles now make up 35% of <a href="https://www.benzinga.com/news/events/24/09/40798189/with-ev-sales-up-35-can-the-us-power-grid-keep-up-one-expert-weighs-in">all car sales around the world</a>.
The U.S.'s inability to catch up with global trends is partially explained by protectionist state policies and partially by the peculiarities of its market, which is highly focused on large vehicles like SUVs and pick-up trucks.
Read also: <a href="https://www.benzinga.com//node/40831151">Global EV Sales Touch 9.8M In 2024 At August End, But US Market&#8217;s Fate Tied To Upcoming Elections, Says Rho Motion</a>
Selling expensive SUVs and trucks has been a positive strategy for Detroit carmakers, but has also hampered their ability to electrify the market, as heavy vehicles are harder to turn electric than compact cars and sedans.
Last month, Ford <a href="https://www.benzinga.com/top-stories/24/08/40496864/ford-scraps-electric-suv-as-it-adjusts-to-lower-electric-vehicle-demand">scrapped an electric SUV and delayed the launch of its electric pick-up truck</a>, citing slow EV demand in the U.S.
<h3 class="wp-block-heading">Should The U.S. Open The Floodgates?</h3>
Detroit carmakers are increasingly exploring Chinese technology for their future EV models.
In a recent report, Ford CEO Jim Farley <a href="https://www.wsj.com/business/autos/ford-china-ev-competition-farley-ceo-50ded461">told</a> The Wall Street Journal that Chinese EV companies are significantly ahead of Detroit automakers, following his trip to the country.
Ford has reportedly been dissecting Chinese EVs in an effort to understand how they're managing to reach such low prices and still keep superb quality.
General Motors <a href="https://www.benzinga.com/markets/equities/24/09/40839765/gm-eyes-us-made-chinese-batteries-in-deal-with-japans-tdk-report">is in talks to acquire electric vehicle batteries</a> made utilizing technology from China's Contemporary Amperex Technology Co.
While opening the door to Chinese companies would destabilize the local market in the short term, it would also push Detroit carmakers to become more competitive.
China's automotive industry grew from being almost insignificant some decades ago, to becoming a global leader today. 
This growth was driven by a requirement for foreign automakers to partner with local manufacturers to access the Chinese market, a rule implemented after the country opened up to foreign companies in the 1980s.
According to TrendForce's February 2024 report, Chinese manufacturers account for three of the top five spots for global market share.
BYD has 17%,Guangzhou Automobile Group Co Ltd (OTC:<a class="ticker" href="https://www.benzinga.com/stock/GNZUF#OTC">GNZUF</a>) has 5.2% and Wuling Motors Holdings Ltd (OTC:<a class="ticker" href="https://www.benzinga.com/stock/WLMTF#OTC">WLMTF</a>) has 4.9%. Tesla is at the top of the list with 19% while Volkswagen (OTC:<a class="ticker" href="https://www.benzinga.com/stock/VWAPY#OTC">VWAPY</a>) is number five.
Pairing foreign companies with local manufacturers has allowed the Chinese industry to gain the knowledge and expertise needed to become a giant in just a few decades. A similar deal could feed Chinese knowhow into the U.S. car industry, while also allowing the country to speed up its shift to a decarbonized car industry.
Now read:
<ul>
<li><a href="https://www.benzinga.com//node/40866380">Tesla China Shines, Lucid Gives Peek Into Model Y Rival, Ford Eyes &#8216;Electric&#8217; Restart In India And More: Biggest EV Stories Of The Week</a></li>
<li></li>
</ul>
Photo: Shutterstock

Asia

Tech

General

BYDDY

GNZUF

TSLA

VWAPY

WLMTF

50% Of New Car Sales In China Are Electric — But In The US, It's Only 10%: Are Protectionist Policies Widening The Gap?

INSG

Inseego Announces Sale Of Telematics Business To Convergence Partners For $52M In Cash; Proceeds To Delever And Focus On Growth In 5G Mobility And Fixed Wireless Solutions

SGML

Sigma Lithium Announces It Is Shipping 2,000t Of Quintuple Zero Green Lithium To Mitsubishi This Week

Offerings

MSTR

MicroStrategy Announces $700M Private Offering Of Convertible Senior Notes Due 2028, With Option For Additional $105M; Offering Subject To Market Conditions

Buybacks

HGBL

Heritage Global Approved Amendment To Its Existing Share Repurchase Program; Increased Repurchase From $4M To $6M

HITI

CORRECTION: High Tide Reported In CAD

<ul>
<li>Expanded Phase 1 monotherapy study of givastomig, a Claudin 18.2 X 4-1BB bispecific antibody immunostimulant, shows promising single-agent activity in heavily pre-treated patients with gastric cancers expressing Claudin 18.2 at low and high levels.</li>
<li>The recommended Phase 2 dose for givastomig was determined to be 8-12 mg/kg; givastomig was well tolerated up to the highest study doses</li>
</ul>

IMAB

I-Mab Reports Poster Presentation Highlighting Top-line Results From Its Ongoing Phase 1 Clinical Study Of Givastomig AT ESMO 2024

Trimble&#39;s (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/trmb#NASDAQ">TRMB</a>) shares have returned 6.2% year to date (YTD) compared with the Zacks Internet - Software industry&#39;s rise of 12.3% and the broader Zacks Computer &amp; Technology sector&#39;s return of 19.9%.
TRMB&#39;s shares have gained from strong performance in the buildings, infrastructure and transportation segments. The notable increase in Annual Recurring Revenue&nbsp;has been a significant positive factor.
In second-quarter 2024, recurring software services were 75% of revenues. Overall, recurring revenues were 60% of revenues.
TRMB&#39;s continuous efforts to expand its client base and robust portfolio are expected to drive top-line growth in 2024. It raised the mid-point of its full-year guidance by $10 million to $3.63 billion. TRMB&#39;s earnings moved up 4 cents to $2.74 per share.
<div class="chart_embed">
<h3>Trimble Inc. Price and Consensus</h3>
<img alt="Trimble Inc. Price and Consensus" src="https://staticx-tuner.zacks.com/images/charts/9e/1726495830.png" style="height:285px; width:620px" title="" />
Trimble Inc. price-consensus-chart | Trimble Inc. Quote
Hence, the question that investors should mull over is &mdash; would these strong efforts help TRMB stock in continuing its momentum?
</div>
<h3>TRMB Divests Telematics Segment to Platform Science</h3>
Trimble&#39;s efforts to expand its footprint in the global transportation industry are noteworthy. Recently, TRMB unveiled a partnership with Platform Science to drive innovation in the global transportation sector.
As part of this deal, Platform Science will acquire Trimble&#39;s global transportation telematics business units. The company will become a shareholder in Platform Science&#39;s expanded business.
The collaboration will integrate two advanced commercial vehicle ecosystems, enhancing driver experience, fleet safety, and efficiency.
Trimble&#39;s customers will retain their existing solutions and gain access to Platform Science&#39;s Virtual Vehicle platform, which offers new applications and solutions.
Platform Science customers will also benefit from Trimble&#39;s transportation solutions available through this platform.
<h3>Strong Portfolio Drives TRMB Stock&#39;s Prospects</h3>
Trimble recently introduced its Trimble Reality Capture platform, designed to enhance collaboration and securely share extensive reality capture datasets from 3D laser scanning, mobile mapping and uncrewed aerial vehicle systems. This new service is available as an extension of Trimble Connect.
Connect has now initiated more than 20 million projects since inception and had more than 6 billion API hits on the platform in the first six months of 2024.
Trimble&#39;s Reality Capture platform offers a secure, intuitive web-based solution for handling point clouds and 360-degree imagery. It allows professionals across construction, surveying, infrastructure, utilities, energy, and mining to collaborate more effectively on complex projects, all while maintaining data integrity and accuracy.
TRMB&#39;s new asset lifecycle management software suite, Trimble Unity, allows owners of capital projects and public infrastructure to streamline the planning, design, construction, operation and maintenance of their assets through centralized data and connected digital workflows.
<h3>TRMB&#39;s Zacks Rank &amp; Valuation</h3>
Trimble&#39;s commitment to diversifying its portfolio and growing client base is expected to drive the top line in the near term.
However, weakness in the North American transportation mobility business, along with adverse foreign exchange rates, makes Trimble&#39;s near-term prospects foggy.
The TRMB stock is not so cheap, as the Value Style Score of D suggests a stretched valuation at this moment.
Trimble currently has a Zacks Rank #3 (Hold).
<h3>Key Stocks</h3>
Some better-ranked stocks in the broader technology sector are Audioeye (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/aeye#NASDAQ">AEYE</a>), Alps Electric&nbsp;and Aspen Technologies (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/azpn#NASDAQ">AZPN</a>), each sporting Zacks Rank #1 (Strong Buy).
Audioeye&#39;s shares have surged 315.1% in the year-to-date period. The long-term earnings growth rate for AEYE is pegged at 25%.
Alps Electric&#39;s shares have gained 28% in the year-to-date period. The long-term earnings growth rate for APELY is pegged at 40.52%.
Aspen Technologies&#39; shares have returned 2.3% in the year-to-date period. The long-term earnings growth rate for AZPN is pegged at 13.12%.
<a href="https://www.zacks.com/stock/news/2336693/trimble-up-6-2-ytd-should-you-buy-hold-or-sell-the-trmb-stock?cid=CS-BENZ-FT-analyst_blog|company_news_tech_sector-2336693">To read this article on Zacks.com click here.</a>

Guidance

AEYE

AZPN

TRMB

Trimble Up 6.2% YTD: Should You Buy, Hold or Sell the TRMB Stock?

High Tide Q3 2024 GAAP EPS C$0.01 Beats C$(0.03) Estimate, Sales C$131.700M Beat C$127.950M Estimate

NTRB

Nutriband Authorizes $1M Share Buyback Program

Veren Inc. (VRN) Q2 2024 Earnings Call Transcript

Veren Makes Investment Grade While Integration Continues

In a report released yesterday, Michael Harvey from RBC Capital maintained a Buy rating on Veren (VRN – Research Report), with a price target of C$...

RBC Capital Remains a Buy on Veren (VRN)

Analyst Jeremy Mccrea from BMO Capital maintained a Buy rating on Veren (VRN – Research Report) and keeping the price target at C$14.00. Jeremy Mcc...

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Franklin Small Cap Value Fund Q2 2024 Commentary

Veren (VRN – Research Report), the Energy sector company, was revisited by a Wall Street analyst today. Analyst Jeremy Mccrea from BMO Capital main...

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Veren (TSE:VRN) has released an update. Veren Inc. has partnered with Pembina Gas Infrastructure in a $400 million deal involving infrastructure as...

Veren Inc.'s $400M Strategic Asset Partnership

Pembina Pipeline to buy midstream assets from Veren in C$400M deal

RBC Capital analyst Michael Harvey maintained a Buy rating on Veren (VRN – Research Report) yesterday and set a price target of C$13.00. The compan...

RBC Capital Sticks to Their Buy Rating for Veren (VRN)

Jefferies analyst Anthony Linton maintained a Buy rating on Veren (VRN – Research Report) today and set a price target of C$11.00. The company's sh...

Jefferies Reaffirms Their Buy Rating on Veren (VRN)

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Veren Announces Closing of Non-Core Asset Disposition

Veren Announces Offering of Investment-Grade Senior Notes

Veren Announces Closing of Investment-Grade Senior Notes Offering

Veren Announces Q2 2024 Conference Call

Veren Confirms Quarterly Dividend

Veren Announces Q2 2024 Results

Veren Announces Strategic Infrastructure Transaction

TSX:VRN

Scotiabank

Pembina Pipeline Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PBA#NYSE">PBA</a>), a Canada-based oil and gas storage and transportation company, has announced a major acquisition through its joint venture Pembina Gas Infrastructure Inc. (&quot;PGI&quot;). This agreement with Veren Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VRN#NYSE">VRN</a>) involves acquiring its Gold Creek and Karr area oil batteries, coupled with a significant investment in future infrastructure development.

The strategic acquisition represents a key milestone in Pembina&#39;s growth, expanding the company&#39;s infrastructure footprint and strengthening its partnership with VRN, a prominent player in the Montney and Duvernay regions.

<h2>Details of the Agreement Between PBA &amp; VRN</h2>

The acquisition involves four batteries in the Gold Creek and Karr areas, contributing significantly to PGI&#39;s existing infrastructure. These batteries boast a natural gas handling capacity of 320 million cubic feet per day and liquids handling capacity of 53,000 barrels per day. The natural gas processed from these batteries is directed to PGI&#39;s Patterson Creek Gas Plant, with the batteries and the plant integrated into Pembina&#39;s Peace Pipeline system.

Calgary-based VRN will play a major operational role with the newly acquired assets. According to the agreement, this Canadian oil and gas exploration and production company will manage the newly acquired batteries and the existing PGI-owned batteries in the region. Under this arrangement, VRN will handle all operating costs and maintenance capital, establishing itself as the primary operator for these facilities.

PGI will invest up to C$300 million and approximately one-third of this funding has already been committed, which reflects the seriousness of the collaboration. VRN, as part of this agreement, will oversee the construction and operation of the batteries, while PGI focuses on the high-pressure gathering pipelines that support this infrastructure.

<h2>Key Financial Aspects of PBA&#39;s Acquisition</h2>

The net purchase price is C$400 million (C$240 million net to Pembina), a considerable investment that highlights the company&#39;s commitment to expanding its gas processing and handling capacity. This acquisition is expected to generate an initial annual adjusted EBITDA of approximately C$50 million (C$30 million net to Pembina), with further capital deployment anticipated to yield additional contracted EBITDA through enhanced plant utilization and corresponding fees.

<h2>PBA&#39;s Long-Term Take-or-Pay Agreement</h2>

A critical component of this transaction is the 15-year take-or-pay agreement signed between the two companies. This long-term contract provides security for PGI, with VRN committing to processing capacity at the newly acquired batteries. Additionally, the agreement includes a dedicated area, which is situated in the Gold Creek and Karr regions, where VRN is obligated to use PGI&#39;s gathering and processing services for all volumes produced.

This acquisition is not only a financial transaction but a strategic move that strengthens Pembina&#39;s existing relationships and infrastructure capabilities. VRN is a leading producer in Montney and Duvernay, two prolific gas-producing formations in Western Canada, with more than 20 years of premium drilling inventory. This transaction ensures that PGI continues to collaborate with a top-tier counterpart in the energy sector.

The transaction also involves extending the existing legacy agreements between Pembina and VRN. Under the new structure, all the purchased batteries, existing assets and future infrastructure developments will be amalgamated into a single, simplified contract structure. This streamlined approach eliminates redundant administrative processes and provides clearer, long-term commitments between the parties.

Moreover, PGI has taken steps to eliminate future non-revenue-generating capital obligations tied to previous agreements, further optimizing its financial exposure. This move reduces operating expenses and ensures that all capital deployed has a direct impact on revenue generation.

This transaction enables VRN to manage the upstream gathering and battery infrastructure, while PGI will maintain operations at the Patterson Creek Plant. This arrangement supports the ramp-up of drilling activities and the associated increase in volumes outlined in VRN&#39;s development plan, leveraging the existing unused capacity at PGI&#39;s Patterson Creek Gas Plant.

<h2>Integration and Future Plans for PBA Stock</h2>

The transaction is part of Pembina&#39;s broader strategy to enhance its infrastructure and logistics chain. Liquids from the new batteries and Patterson Creek Gas Plant will continue to be transported via the Peace Pipeline system and natural gas liquids will be processed at Pembina&#39;s Redwater Facility, ensuring smooth integration with existing operations.

To finance this acquisition, PGI will use its existing credit facility, which highlights the company&#39;s strong financial position. This deal is expected to close in the fourth quarter of 2024, subject to customary closing conditions and regulatory approvals. This acquisition aligns with Pembina&#39;s long-term goals for growth and solidifies its role as a leading midstream service provider in Western Canada.

VRN&#39;s Gold Creek and Karr area oil batteries&#39; acquisition by PBA is a strategic transaction that extends its reach into critical gas-processing regions. This collaboration with VRN ensures stable and long-term growth trajectory. The transaction brings together expanded operational capacity, enhanced infrastructure alignment and integration into Pembina&#39;s existing value chain, creating an opportunity for both companies to benefit from increased efficiencies and growth in the energy landscape of Western Canada.

<h2>Zacks Rank and Key Picks</h2>

Currently, PBA and VRN each have a Zacks Rank #3 (Hold).

Investors interested in the energy sector might look at some better-ranked stocks like VAALCO Energy, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EGY#NYSE">EGY</a>) and Core Laboratories Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CLB#NYSE">CLB</a>), each carrying a Zacks Rank #2 (Buy) at present.

Houston, TX-based Vaalco Energy is valued at $568.51 million. The oil and gas exploration and production company currently pays a dividend of 25 cents per share, or 4.56%, on an annual basis. EGY is an independent energy company principally engaged in the acquisition, exploration, development and production of crude oil and natural gas.

<div>
Core Laboratories is valued at $829.89 million. The company currently pays a dividend of 4 cents per share, or 0.23%, on an annual basis. Netherlands-based CLB is an oilfield services company, operating in more than 50 countries. The firm deals with providing reservoir management and production enhancement services to oil and gas companies.

<a href="https://www.zacks.com/stock/news/2333876/pembina-pipeline-to-acquire-veren-s-midstream-assets-in-c-400m-deal?cid=CS-BENZ-FT-analyst_blog&#x7C;company_news_energy_sector-2333876">To read this article on Zacks.com click here.</a>
</div>

Pembina Pipeline to Acquire Veren's Midstream Assets in C$400M Deal

Veren (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VRN#NYSE">VRN</a>) reported quarterly earnings of C$0.38 per share which beat the analyst consensus estimate of C$0.36 by 5.56 percent. This is a 18.75 percent increase over earnings of C$0.32 per share from the same period last year. The company reported quarterly sales of C$1.136 billion which beat the analyst consensus estimate of C$1.055 billion by 7.69 percent. This is a 45.34 percent increase over sales of C$781.600 million the same period last year.

Veren Q2 2024 Adj EPS C$0.38 Beats C$0.36 Estimate, Sales C$1.136B Beat C$1.055B Estimate

Scotiabank maintains Veren (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VRN#NYSE">VRN</a>) with a Sector Outperform and lowers the price target from C$16 to C$15.

Price Target

Scotiabank Maintains Sector Outperform on Veren, Lowers Price Target to C$15

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