President Donald Trump on Friday ordered federal agencies to begin identifying rules for elimination — a move he presented as part of his larger assault on regulations he said damage the economy.Trump’s move may not have much immediate effect, but it continues an anti-regulatory push that began on the first day of his administration. The executive order he signed in the Oval Office Friday directs each federal agency to set up a "regulatory reform task force" to review an agency's existing regulations and search for rules to repeal or modify. The task forces in particular will be directed to "focus on eliminating costly and unnecessary regulations," according to a White House official.Trump previewed the move in a speech earlier in the day at the Conservative Political Action Conference.“We have begun a historic program to reduce the regulations that are crushing our economy — crushing,” Trump told the CPAC crowd at National Harbor, Md. “And not only our economy, crushing our jobs because companies can’t hire. We’re going to put the regulation industry out of work and out of business.”The president previously issued an order directing agencies to identify two regulations for repeal for every rule that is written, prompting outcries from environmentalists, labor unions and consumer advocates. Several groups have sued to block that order, although it is not yet clear they will have the standing in court until a regulation is repealed because of it.Trump's new regulatory review process likely will face similar opposition from those groups, but could prove much harder to challenge, so long as the government cites other evidence for the need to repeal each regulation.The orders come on top of one of the Trump administration’s first acts upon his inauguration issuing a blanket freeze on regulatory actions across the government, similar to the stoppage imposed when Barack Obama first took office.Trump said in his CPAC speech that he is not entirely against regulation.“I want to protect our environment. I want regulations for safety. I want all of the regulations we need, and I want them to be so strong and so tough,” he said. “But we don’t need 75 percent of the repetitive, horrible regulations that hurt companies, hurt jobs, make us noncompetitive overseas with other companies from other countries.”Trump’s critics promptly dismissed that statement.“Cognitive dissonance, thy name is Donald Trump,” Sierra Club Executive Director Michael Brune said in a statement.The president is expected to issue further executive orders on more specific environmental regulations soon.That includes long-rumored orders directing EPA to begin the process of repealing key Obama-era EPA regulations curbing greenhouse gas emissions from the nation’s power plants as well as a contentious rule defining which waterways fall under federal jurisdiction.Lifting the Interior Department’s moratorium on new coal mining leases on federal land is also expected to be a priority once Ryan Zinke is confirmed to lead that department next week. The moratorium was imposed by a secretarial order and can be lifted easily, whereas the EPA rules will take up to a year or more to formally unwind through the federal regulatory process.Tara Palmeri and Nick Juliano contributed to this report.
Johnson & Johnson (JNJ) reported earnings 30 days ago. What's next for the stock? We take a look at earnings estimates for some clues.
"Они разделяют наше стремление вернуть производство и создать новые рабочие места в этой стране", - заявил Трамп
Президент США провел в Белом доме встречу с руководителями 24 крупных американских компаний
Some people believe that customer satisfaction is the key to outperforming the market. The people at ACSI Funds make their case for this approach in the latest edition of the Dutram Report, give it a listen!
Компоненты индекса DOW преимущественно в плюсе (19 из 30). Больше остальных упали акции Caterpillar Inc. (CAT, -2.65%). Лидером роста являются акции Johnson & Johnson (JNJ, +1.89%). Большинство индексов S&P в минусе. Больше всего упал сектор конгломератов (-1.0%). Лидер роста - сектор коммунальных услуг (+1.0%). Информационно-аналитический отдел TeleTrade Источник: FxTeam
Основные фондовые индексы США двигаются разнонаправленно. S&P 500 и Dow Jones Industrial Average находятся около нулевой отметки, в то время как Nasdaq в умеренном минусе на фоне потерь Nvidia. Как показали данные, опубликованные Федеральным агентством по финансированию жилищного строительства, с учетом сезонных колебаний индекс цен на жилье в США вырос на 0,4% в декабре, что оказалось медленнее, чем повышение на 0,7% в предыдущем месяце (пересмотрено с +0,5%). Однако, последний темп роста подтвердил прогнозы экспертов. По сравнению с декабрем 2015 года, жилье подорожало на 6,2%. Кроме того, стало известно, что январский индекс национальной активности ФРС-Чикаго составил -0,05 против 0,18 в декабре. Индекс оценивает средневзвешенную корзину из 85 индикаторов, отражающих четыре широких категории экономики. Он призван давать представление о национальной экономической активности США и инфляционном давлении. Цены на нефть отступили от максимумов сессии после выхода данных по запасам в США. Коммерческие запасы нефти в США за неделю, которая завершилась 17 февраля, выросли на 0,6 млн баррелей - до 518,7 млн баррелей, следует из доклада Управления по энергетической информации (EIA). Неделей ранее запасы нефти в США выросли на 9,5 млн баррелей - до 518,1 млн баррелей. Компоненты индекса DOW преимущественно в плюсе (19 из 30). Больше остальных упали акции Caterpillar Inc. (CAT, -2.58%). Лидером роста являются акции Johnson & Johnson (JNJ, +1.33%). Большинство индексов S&P в минусе. Больше всего упал сектор конгломератов (-1.1%). Лидер роста - сектор коммунальных услуг (+1.0%). На текущий момент: Dow 20773.00 +24.00 +0.12% S&P 500 2360.25 -0.75 -0.03% Nasdaq 100 5326.25 -24.75 -0.46% Oil 54.33 +0.74 +1.38% Gold 1250.50 +17.20 +1.39% U.S. 10yr 2.38 -0.04 Информационно-аналитический отдел TeleTradeИсточник: FxTeam
Exporters and importers are at odds over the proposal.
Principal Large Cap Value III Institutional Fund (PLVIX) seeks appreciation of capital for the long run
The Zacks Analyst Blog Highlights: Merck, Valeant Pharmaceuticals International, Allergan, AstraZeneca and Johnson & Johnson
The Zacks Analyst Blog Highlights: Merck, Valeant Pharmaceuticals International, Allergan, AstraZeneca and Johnson & Johnson
A few big names dominate America's economy. But they employ relatively few people while capturing tons of wealth -- a recipe for inequality.
In an era of diminishing profits for global corporations, brands are bulwarks against commoditization. They are not expenses. Strategic investment is required. New World Disorder The Economist recently published a survey on the retreat of multinational companies (MNCs). More than a response to President Donald Trump's protectionist browbeating, retrenchment is a result of structural headwinds including: local governments increasingly committed to enabling small business; supply chain decentralization; and instant global markets for small companies courtesy of the internet. Not surprisingly, the financial performance of organizations that generate more than 30% of revenue outside their home country have regressed markedly; over the past five years, profit is down 25%. For forty percent of MNCs, return on investment (ROI) hovers around 10%, the danger zone of underperformance. Selective Investment Required In boardrooms around the world, cost cutting is the rage. Centralization of resources is a rallying cry. Local marketing budgets have been slashed. From Mattel's Barbie (a very American girl) to Rolex's Submariner (aspirational in the West but "clunky gold" in much of Asia), globally-produced content -- too often tone deaf -- is the norm. Unilever and Procter & Gamble have imposed top-down decision-making infrastructures. Only low-end "activation" -- that is, transactional promotions -- have been left in the hands of local managers. But cost cutting is a low road. Marketers should lift their sights by harnessing the power of global brands. They are MNCs' greatest assets because they convey trust and epitomize value. Indeed, there are few local products that compete at a price premium versus international brands. This advantage, however, should not be taken for granted. In some sectors, local players are lifting their game. China's Alipay, a sub-brand of e-commerce behemoth Alibaba, has evolved from a Paypal knock off to a "digital wallet" tailored to Chinese spending habits. (Its Red Envelope service is youthful spin on ancient gifting traditions.) WeChat, once a pale imitation of WhatsApp, is now an indispensable social connector. In the face of increasing local nimbleness, global brands must reinforce bonds with consumers around the world. Four Questions It won't be easy. Success will hinge on both analytic acumen and courage. CEOs should ask four questions before marching into battle. Has your brand been defined as a "relationship" to ensure relevance and consistency? Technological upheaval is disorienting. As a result, conceptual clarity is forsaken, leading strategic and executional chaos. Some call a brand's North Star -- its raison d'être -- a "brand essence." Others, a "purpose." I prefer the term "brand relationship" because it implies consistent bilateral engagement that deepens over time -- across all touch points, analog and digital. Great brand relationships are rooted in: A universal "consumer insight" -- that is, a human truth that answers the question "Why?" Local brands are cultural-specific. But global brands must transcend geography. Sometimes they miss the mark. Unilever's Dove's "real beauty" is rooted in a woman's desire to define beauty for herself. But in market non-Western markets, self-esteem is a function of societal acknowledgement. Identities are externalized. The "unique brand offer" -- that is, a "product truth" or "brand truth" capable forging long-term competitive differentiation. LEGO, a brand that has celebrated creativity since 1932, appeals to human truth. The name lego is derived from Danish phrase "Leg godt," which also means "I put together" in Latin. Every manifestation of LEGO's brand relationship, "inspiring the builders of tomorrow," strengthens brand equity. The company's award-winning retail outlets are designed with innovative displays and spaces for family "building" events and kid-friendly exploration areas. At several locations worldwide, LEGOland encourages kids to open their imaginations at construction sites that dot the theme parks. To the tune of almost $500 million in global ticket sales, the 2014 film The LEGO Movie is perhaps the most successful branded entertainment in recent years. It tells the tale of an ordinary construction worker, Emmet, battling nefarious Lord Business whose ambition is to glue everything in the adaptable LEGO world into place. Have you leveraged your brand relationship to forge a strategic brand portfolio? In markets in which "bigger is better" -- Northeast Asia, for example, where the scale of conglomerates is considered reassuring -- brands are "stretchable." Consumers are willing to embrace brands that extend across disparate categories. This is true across Japanese keiretsu, Korean chaebols and Chinese state-owned enterprises (SOEs). The vast majority of local brands, however, manage their portfolio in a ham-handed way. China's Xiaomi, a manufacturer of low-priced mobile phones that once boasted a dedicated fan base, is typical. It squandered a shot at greatness through promiscuous diversification across an ever-widening range of products presumptuously dubbed an "ecosystem." Xioami's founder, Lei Jun, never clarified the brand's role in life. There is no meaningful brand relationship so sales strategies are price-driven. The same is true for many indigenous brands from Korea's Lotte to Japan's Hitachi. Global brands are skilled in articulating relationships, a competency that can: a) reinforce superiority versus local challengers and b) facilitate profitable management of sub-brands and new categories. A good example: Under Armour's brand relationship -- champion of underdogs who dare to compete against the best -- provides coherence across sub-brands including UA Heat Gear, UA Coldgear and the UA Glow Collection. It also infuses soul into efforts to scale the business. According to branding guru David Aaker, "Under Armour has systematically added lines of clothing while continuing to focus on delivering the functional and self-expressive brand promise. The latest venture into women's clothing has the earmarks of future success." Have you harnessed the assets of your brand relationship for maximum relevance in consumers' lives? In a hydra-headed digital world, the ultimate commandment of marketing still holds: relevance is sublime. Consumers suffer from disorientation wrought by technological change -- a universe of bits and bytes, atomistic fragmentation that dulls the senses. Digital technology offers an infinite--and intimidating--range of ways for brands to engage with consumers. Connections happen in real time. Augmented reality redefines individual field of vision. Social network feeds provide consumers with non-stop "news" as they go through their day. Some brands use technology in a way that confuses or commoditizes. For example, in 2014, several McDonald's franchises in Spain took advantage of their powerful wifi network signal to hijack customers who were eating in nearby establishments. By changing their signal name into a message--for example, "Free drink with your McMenu," or "Come eat with us and have a sundae on the house"--the McDonald's franchises lured people into their restaurants. The local stunt was clever and generated a burst of incremental sales. But the fast-food chain missed an opportunity to combine hard-hitting discounts with reminders of why people love McDonald's--that is, quality food and family friendliness. But more and more brands -- not only ecosystems such as Amazon, Google and Apple -- invest in technology that makes lives better. Johnson & Johnson produced Band Aid "Magic Vision," an augmented reality app in which Muppets laugh away the "ouch." Procter & Gamble's Pampers asks tired parents to tune into ZZZ FM, a radio station that broadcasts white noise so babies can sleep soundly. Brand experiences--from Trailhead, The North Face's hiking path locator, to Allergycast, Johnson & Johnson's pollen index counter--transform passively received "propositions" into actual services. Importantly, data should be used to identify what experiences can deepen a given brand relationship. Prophet, the global strategic consultancy, encourages marketers to pursue continuous -- or "relentless" -- relevance. The firm's Brand Relevance Index (BRI) recently surveyed 45,000 consumers around the world to find which brands they "can't imagine living without." To derive the BRI, Prophet measured four pillars of relevance: Customer obsession: "Everything that is invested in, created, and brought to market is designed to meet important needs in people's lives." Ruthless pragmatism: "Products are available where and when customers need them, deliver consistent experiences, and just make life that much easier for people." Pervasive innovation: "Even industry leaders don't rest on their laurels. They push the status quo, engage with customers in new and creative ways, and find new ways to address unmet needs." Distinctive inspiration: "Emotional connections are made, trust is earned, and often exist to fulfill a larger purpose." Prophet's United States top ten list was a nice combination of brands that "born digital" and others that weren't: Apple ("the gold standard for practical innovation"), Amazon ("What can't it do?"), Android ("the green guy strikes back"), Netflix ("Cant. Stop. Watching."), Google ("making search sweet"), Samsung ("the innovation trail blazer"), Nike ("celebrating unlimited you"), Pinterest ("the apex of inspiration"), Pixar "(sticking to its story") and Sephora ("ever more digital"). Have your markets been culturally "clustered" to achieve balance between global and local execution? At WPP's 2015 Board of Directors meeting in Beijing, CEO Martin Sorrell stated, "Clients want either global or local. They tell me all the time. Nothing else interests them." Too many companies swing between "one size fits all" and localization of everything from packaging design and retail design to content creation. The former precludes affinity. The latter is messy and financially unsustainable. Instead, markets can be "clustered" according to culture. Global brands -- again, rooted in human truth -- must be brought into alignment with worldviews. Culture-based clusters -- across which common marketing programs can be executed -- balance relevance with operational efficiency. Whenever I am asked what makes Confucian countries -- China, Korea and Vietnam -- really different from the West, it's not just the lack of individualism--it is the level of ambition. In China, for example, everyone is ambitious. Women want their piece of the sky, just as men do. A study by the Center for Work-Life Policy found that just 36 percent of college-educated women in America described themselves as "very ambitious," compared to 65 percent in China. A further 76 percent of women in China aspire to hold a top corporate job, compared to 52 percent in America. The "tiger mom," forcing extracurricular activities upon her child to make sure he gets into Harvard 18 years later, is not a myth. Not all mothers are like this, but ambition remains a palpable force in Confucian societies. They were the first to become socially mobile societies; engrained in the Chinese psyche is people can achieve success by mastering convention and internalizing the rules. The desire to get ahead binds people together. From the bourgeoisie in the bustling metropolises of Seoul, Beijing, and Hong Kong right down to the farmers in the fields, all want to be an emperor of their small corner, no matter how modest their origins. So the relationship between individual and society in Confucian countries is fundamentally different than in Anglo-individualistic ones. Across the Confucian cultural cluster, brands need to do more so cross-market resources should be pooled accordingly. In Northeast Asia, Ford's "Go further" can align a global focus on "democratic technology" with how its cars and "mobility solutions" help the new middle class get ahead in life. Nike's "Just do it" is a rallying cry to release individual potential. Everywhere. But, across Asia, the brand's shoes, apparel, Nike+ social platforms and wearable tech products are tools on the battlefield of life. In one recent campaign, Nike actually exhorted Millennials to yong yundong, or "use sports." Social platforms generate social currency by broadcasting achievements to a wide audience. Forward momentum in life can also be warmly emotional. In many Northeast and Southeast Asian countries, expecting fathers are not allowed to join their wives in ultrasound rooms. For women, it only makes the pregnancy journey lonelier than it already is. So Bayer's Elevit, a prenatal nutritional supplement that "nourishes your unborn baby's heart," developed a wearable device that enabled fathers to actually feel the heartbeat from far away. ___________ In conclusion, multinational companies face tough times. But blind cost-cutting triggers low relevance and low margins. Instead, marketers should unleash the power of global brands by: a) achieving consistency born of a clearly-defined long-term "relationship" between consumer and brand, b) leveraging "stretchability" to introduce a broad-yet-cohesive brand relationship portfolio, c) pursuing "relentless relevance" enabled by technology and d) deploying resources across culture-based clusters. -- This feed and its contents are the property of The Huffington Post, and use is subject to our terms. It may be used for personal consumption, but may not be distributed on a website.
The year 2017 seems to have started on a positive note for investors in the U.S. Approximately 71.6% of the companies (or 358 members) in the S&P 500 Index have reported results so far.
Too many respond to increased competition by lowering prices. The problem is that lowering the price often comes with unintended consequences. It can lower the image of your product and send the wrong message to customers that recently paid more. What is a company to do? The answer is set the price at the right level by finding out what buyers are willing to pay. What buyers are willing to pay Pricing novices tend to be "inside-out" thinkers. They assume that buyers always want to pay less because they, themselves (inside their own heads), want to pay less. What the data shows is that this is true if the product is validated. If you know and trust the company and the product you are buying, of course, you would like to buy it for less. What if the product is not validated? You never heard of the company, or you have never heard of the product. Time and again, a lower price for an unknown product from an unknown company usually means one thing to the buyer's brain - the product is probably not very good. What gives you control over the price Economists tell you that the market determines the price, and that an economic price is where supply equals demand. Rather than fight with economists, good Marketers know that positioning (product branding) gives you control over the price. The more uniqueness and desirability you put into your positioning strategy, the more control you have over the price you can charge for your product. A few examples should help to illustrate how positioning gives you this control. Record-breaking baseball. A baseball sells for a few dollars. The baseball that Barry Bonds hit in the stands to break Hank Aaron's home run record sold for $752,467.20. It was unique, and desired by the man that bought it. Apple's smartphone profits. Even if the iPhone has only a 12.1% share of the smartphone market, Apple commanded 91% of the smartphone profits in the 3rd Quarter of 2016. If you want and iPhone, only one company makes it - Apple. If you want an Android phone, there are a number of choices. Entertainment venue food and beverages. When you go to see a popular professional sports team in a stadium or a movie or concert in a theater, you might notice that the price of candy, popcorn, hot dogs and other items is considerably higher than if you buy them outside the venue. Why? Even if the items themselves are not unique, they have uniqueness because the distribution channel you are in has no competition nearby. If you want to eat or drink something, you have to buy it from the venue at the prices they charge. Once you understand that positioning gives you control over the price, you are ready to develop pricing strategies to help your sales and profits. Pricing is more complex than you think. Pricing is one of the fundamental building blocks of marketing. Many believe price is easy to understand when, in fact, it is one of the most difficult. McKinsey points out in an article entitled Shedding the Commodity Mind-set, too many companies leave large amounts of money on the table. Pricing experts know that setting the right price is difficult because, in addition to the physical factors of cost and profit, price is subject to psychological factors. The best companies can do to have control over these psychological factors is to do a great job of branding. And to get the branding right, companies have to know how to develop the right underlying corporate image and positioning strategies. In short, creating a brand image of the product that is impossible, or extremely difficult, to copy is the key to having control over your pricing strategies. If you are able to do that, you will be able to employ the most powerful and effective of all pricing strategies - What The Market Will Bear (WTMWB). What the Market Will Bear In markets where there is little or no competition, companies can employ a pricing strategy that optimizes profits. It is often called a What The Market Will Bear (WTMWB) price. This strategy sets the price based on the maximum price the market will pay for the product. On the one hand, the company wants to realize the highest profits possible in the shortest amount of time to help recoup high start-up costs, such R&D (research and development), production, and marketing costs. On the other, it may not want its profits to be so attractive as to entice cutthroat competition to enter the market within the time window it needs to build market share and establish a leadership position. This strategy typically works because those likely to buy a new product - the Innovators and Early Adopters - are not particularly price sensitive. If there is considerable uniqueness and desirability built into the product brand, your company can employ a WTMWB strategy. If not, you might consider other effective pricing strategies. Gross Profit Margin Target In almost all cases, pricing strategies should begin with a Gross Profit Margin Target (GPMT) strategy. Companies typically know the gross profit margin they need to pay back their expenses and generate positive net income and cash flow. Once your company knows the cost of sales (cost of goods and services sold) of a particular product and the Gross Profit Margin Target it wants, it can easily employ a GPMT strategy. Gross Profit Margin is defined by the formula (P-C)/P, where P=Price and C=Cost of Sales. Anybody can put this formula into a spreadsheet program, and as costs change, recalculate the price that will produce the targeted Gross Profit Margin. Most companies know the GPMT they want. If you don't, there are some common guidelines you can follow. Manufacturers typically aim for a GPMT of 50% Distributors (Wholesalers) usually need a GPM of 10 to 15% Dealers (Retailers) require a GPM of 30 to 50% (the higher percentage is for retailers that have to train people (customers and employees) to use the product and the lower margin is for retailers that are selling a product that does not require after-sale support. The price, or marked-up cost, to achieve these target GPMs is as follows (P=Price and C=Cost of Sales): Manufacturers: P=2C so the formula is (2C-C)/2C = 0.5, yielding a GPM of 50% Distributors: P=1.18C so the formula is (1.18C-C)/1.18, which will give them a 15% GPM Dealers: P=1.5C so the formula is (1.5C-C)/1.5C, for a 33% GPM. When I develop pricing strategies for a client that is a manufacturer, I always start with a GPMT pricing strategy that is twice their cost, or 2C, since that is an easy calculation that will give them their GPMT of 50%. Most Significant Digit Pricing For products that will be sold to consumers, most companies employ a Most Significant Digit (MSD) pricing strategy. Why? Studies and experience show that sales will be significantly higher if a product is priced at say $29.95 or $29.99 instead of $30. Most humans focus on the most significant digit - the "2" in this case. To them $29.95 or $29.99 seems a lot less than $30 even though it is only 1 to 5¢ less. Even expensive homes in Beverly Hills might sell for $7,995,000 rather than $8 million. There are exceptions. In upscale restaurants, it is usually a mistake to price an entrée at $31.95. Instead it will be priced at $32-. For some reason, people do not think the food is as good if MSD pricing is used in a high-end restaurant. Combining all three If a product is positioned as unique, smart marketing companies will typically use all three of these strategies in combination. For example, Apple has priced its iPad Air and iPad Pro starting at $399 and $599 respectively. Apple is using a MSD strategy in addition to a WTMWB strategy because the iPhone has uniqueness built-in since Apple controls the platform. It also aims for a GPMT, which is not officially published, but which is in the 30 to 50% GPM range of well-positioned products in competitive markets. When Johnson & Johnson launched a margarine developed in Finland that lowers cholesterol, it priced a tub of this margarine at between $5.79 and $5.99. At the same time, a tub of regular margarine sold for 99¢. Based on this pricing, which used MSD and WTMWB strategies, many speculated that J&J priced the product at 8C, which gave it a GPMT of roughly 87.5%. Pricing your products When you are pricing your products, what gives you control over the price is the uniqueness and desirability built into your positioning, or branding, strategy. If you have created a product image that is impossible, or very difficult, to copy, you can employ a WTMWB price that will give you a good GPM that enables you to achieve your desired GPMT. And, if you sell your product in a consumer market, it would be a good idea to also employ an MSD pricing strategy. For example, if you are a manufacturer that is targeting a GPM of 50% and your cost of sales is $15, you might consider selling the product for $29.99 - a penny less than the price of 2C, which would give you a 50% gross profit margin. Best of luck. -- This feed and its contents are the property of The Huffington Post, and use is subject to our terms. It may be used for personal consumption, but may not be distributed on a website.
Key highlights this week include earnings results from Allergan (AGN) and Glaxo, Sanofi's update regarding Praluent and Teva's ongoing woes.