Announcement of Periodic Review: Moody's announces completion of a periodic review of ratings of Interface, Inc.Global Credit Research - 14 Dec 2021New York, December 14, 2021 -- Moody's Investors Service ("Moody's") has completed a periodic review of the ratings of Interface, Inc. and other ratings that are associated with the same analytical unit. The review was conducted through a portfolio review discussion held on 6 December 2021 in which Moody's reassessed the appropriateness of the ratings in the context of the relevant principal methodology(ies), recent developments, and a comparison of the financial and operating profile to similarly rated peers. The review did not involve a rating committee. Since 1 January 2019, Moody's practice has been to issue a press release following each periodic review to announce its completion.This publication does not announce a credit rating action and is not an indication of whether or not a credit rating action is likely in the near future. Credit ratings and outlook/review status cannot be changed in a portfolio review and hence are not impacted by this announcement. For any credit ratings referenced in this publication, please see the ratings tab on the issuer/entity page on www.moodys.com for the most updated credit rating action information and rating history.Key rating considerations are summarized below.Interface's credit profile (Ba3 CFR) reflects the company's exposure to the cyclical corporate office and hospitality end-markets, product concentration in carpet tile and moderate leverage. The company benefits from its large scale, good geographic and customer diversification, and leading market position in modular carpet tile. The company's 2017 expansion into luxury vinyl tile and 2018 expansion into rubber flooring helps diversify its product offerings. Further, Interface's focus on carbon neutral product offerings positions the company well to benefit from consumers' focus on using environmentally friendly material. Interface also benefits from solid operating profit margins of 10%, good free cash flow that Moody's expects will average around $40 million annually over the next 12-18 months, and good liquidity.This document summarizes Moody's view as of the publication date and will not be updated until the next periodic review announcement, which will incorporate material changes in credit circumstances (if any) during the intervening period.The principal methodology used for this review was Manufacturing published in September 2021. Please see the Rating Methodologies page on www.moodys.com for a copy of this methodology.This announcement applies only to EU rated, UK rated, EU endorsed and UK endorsed ratings. Non EU rated, non UK rated, non EU endorsed and non UK endorsed ratings may be referenced above to the extent necessary, if they are part of the same analytical unit.This publication does not announce a credit rating action. For any credit ratings referenced in this publication, please see the ratings tab on the issuer/entity page on www.moodys.com for the most updated credit rating action information and rating history. Maria Iarriccio Vice President - Senior Analyst Corporate Finance Group Moody's Investors Service, Inc. 250 Greenwich Street New York, NY 10007 U.S.A. JOURNALISTS: 1 212 553 0376 Client Service: 1 212 553 1653 John E. Puchalla, CFA Associate Managing Director Corporate Finance Group JOURNALISTS: 1 212 553 0376 Client Service: 1 212 553 1653 Releasing Office: Moody's Investors Service, Inc. 250 Greenwich Street New York, NY 10007 U.S.A. JOURNALISTS: 1 212 553 0376 Client Service: 1 212 553 1653 © 2021 Moody’s Corporation, Moody’s Investors Service, Inc., Moody’s Analytics, Inc. and/or their licensors and affiliates (collectively, “MOODY’S”). All rights reserved.CREDIT RATINGS ISSUED BY MOODY'S CREDIT RATINGS AFFILIATES ARE THEIR CURRENT OPINIONS OF THE RELATIVE FUTURE CREDIT RISK OF ENTITIES, CREDIT COMMITMENTS, OR DEBT OR DEBT-LIKE SECURITIES, AND MATERIALS, PRODUCTS, SERVICES AND INFORMATION PUBLISHED BY MOODY’S (COLLECTIVELY, “PUBLICATIONS”) MAY INCLUDE SUCH CURRENT OPINIONS. MOODY’S DEFINES CREDIT RISK AS THE RISK THAT AN ENTITY MAY NOT MEET ITS CONTRACTUAL FINANCIAL OBLIGATIONS AS THEY COME DUE AND ANY ESTIMATED FINANCIAL LOSS IN THE EVENT OF DEFAULT OR IMPAIRMENT. SEE APPLICABLE MOODY’S RATING SYMBOLS AND DEFINITIONS PUBLICATION FOR INFORMATION ON THE TYPES OF CONTRACTUAL FINANCIAL OBLIGATIONS ADDRESSED BY MOODY’S CREDIT RATINGS. 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Investors in Nvidia (NASDAQ: NVDA) stock just can't seem to catch a break. The reason: Once again, it seems Wall Street is simply finding cheaper ways to play the global semiconductor shortage than by buying Nvidia stock. This growth rate was nearly twice the 6% growth Citi had previously forecast, reports TheFly.com. The problem is, in interpreting this data, Citi chose to speak highly of its potential to lift earnings at Advanced Micro Devices and Intel -- enabling both those chip companies to beat expectations in the fourth quarter.
Microsoft (NASDAQ: MSFT) shares closed 3.3% lower on Tuesday after the U.S. Department of Labor reported that producer price inflation hit a historic high in November, up 9.6% from a year ago. This news came on top of a reported 6.8% jump in consumer prices that came out yesterday -- the fastest rate of price growth in 40 years. Reporting on Microsoft's price decline, Bloomberg drew a direct line from the inflation data to the weakness in Microsoft's stock price. Think about it this way: Right now, analysts who track Microsoft stock are forecasting that the company will grow its earnings by about 15% annually over the next five years.
Shares of cloud software companies Datadog (NASDAQ: DDOG), Zscaler (NASDAQ: ZS), and Cloudflare (NYSE: NET) were falling on Tuesday in another rough day for tech stocks. In a wide-ranging note at the bank, J.P. Morgan software analyst Sterling Auty made new calls across the sector.
Investors are being reminded of several risk factors that need to be considered with this investment.
Making progress in its push to facilitate the transition to a hydrogen economy, Plug Power (NASDAQ: PLUG) announced its entrance into a long-term supply and logistics agreement today. Investors, however, aren't impressed, considering details of the partnership are rather scant. As of 12:14 p.m. ET, shares of Plug Power are down 6.2%. While Plug Power initially made its hay by providing fuel cell systems, the company has articulated a long-term vision of diversifying its business by producing green hydrogen.
Our call of the day from Stifel sees the Fed working toward a bubble of the century. Here's what happened before.
A shift from the internal combustion engine to electric vehicles is undisputed. QuantumScape (NYSE: QS) is working on the next-generation batteries that could step up the ongoing shift to electric vehicles. QuantumScape's product is still in the development stage. As an early-stage company, QuantumScape's stock price is volatile.
Supreme Court won’t block N.Y. healthcare vaccine mandate, Apple is poised to become first $3 trillion company, MGM Resorts to sell Mirage hotel to Hard Rock, and other news to start your day.
Shares of customer relationship management software company Salesforce.com (NYSE: CRM) fell sharply on Tuesday. The tech-heavy Nasdaq Composite is down more than 2% as of this writing. Salesforce's decline comes not long after the company reported strong fiscal third-quarter results but provided mixed guidance for its fourth quarter of fiscal 2022.
Shares of Sunrun (NASDAQ: RUN) sank on Tuesday after a regulatory proposal threatened to slow the solar industry's growth. As of 3:25 p.m. ET, Sunrun's stock price was down more than 13%. A draft of proposed changes to California's Net Energy Metering Program could drastically increase costs for consumers and eliminate "tens of thousands of jobs." It "represents California politics at its worst and loses sight of what constituents want -- innovation, control, and fast solutions -- in favor of propping up failed and stodgy incumbents," Fenster said in a press release.
Shares of Roku (NASDAQ: ROKU), Snowflake (NYSE: SNOW), and DraftKings (NASDAQ: DKNG) were all trading more than 6% lower at points on Monday, December 13, before slightly recovering. First, they are all very high-multiple growth stocks. It appears traders are fearful of this week's Federal Reserve meeting in which officials may decide to speed up the pace of financial tightening, which could harm these types of stocks, both financially and in terms of valuations. Federal Reserve officials will meet over Tuesday and Wednesday, and will likely discuss a faster tapering of their bond purchases, reflecting comments from Federal Reserve Chair Jerome Powell earlier this month.
Investing in emerging technologies could provide investors with excellent returns over the long run.
(Bloomberg) -- Former U.S. Treasury Secretary Lawrence Summers warned of the risk of a “spontaneous deflating of financial markets” that have been pumped up by retail buying and exuberant investors.Most Read from BloombergZero Taxes, Golf and Beach Houses Create a Crypto Island ParadiseCan Indoor Farms Reach Skyscraper Height?China Is Building the World’s Largest National Park SystemBoris Johnson’s Furious MPs Worry That His Next Misstep Could Be FatalThere is “a lot of euphoria,” Summers said a
In this article, we discuss the 10 Best Jim Cramer Stocks to Watch in December. If you want to skip our detailed analysis of these stocks, go directly to 5 Best Jim Cramer Stocks to Watch in December. CNBC’s Mad Money host Jim Cramer is one of the most followed financial experts in the market today. […]
This CEO is betting big on Bitcoin. But he's not alone.
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Shares of southeast Asia's e-commerce giant Sea Limited (NYSE: SE) were down 4.1% today as of 1:20 p.m. ET. The good news, though, is that while inflation is shaping up to be a concern once again in 2022, hypergrowth companies like Sea are growing at a far faster rate and can outrun increasing costs.
Argonaut Gold Inc. (TSX: AR) (the "Company", "Argonaut Gold" or "Argonaut") announces that it has completed a review of the estimated construction capital at completion ("EAC") of its 100%-owned Magino project in Ontario, Canada ("Magino" or the "Project"). The Company also announces a change in leadership. All dollar amounts are expressed in Canadian dollars, unless otherwise specified. "US$" refers to United States dollars.
The company is only on its third day of trading on the public markets and is experiencing volatility.
Inflation is at its highest rate in nearly four decades, but there are steps you can take with your personal finances to take the edge off.