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MUNICH and BERLIN, April 25, 2018 /PRNewswire/ --
Appliance Recycling Centers of America, Inc. (PRNewsfoto/Appliance Recycling Centers of)
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Nest Wealth Pro Selected by SP Wealth LP to Power Their Digital Wealth Management Services
Fully digital solution enables firm to improve operational efficiency, increase advisor capacity and better engage clients Nest Wealth Pro is a digital wealth platform that incorporates a firm's existing process and infrastructures to more efficiently onboard, engage and manage their clients. SP Wealth LP anticipates the deployment of their fully digital wealth management solution in the third quarter of 2018. Nest Wealth has been chosen by some of Canada's largest wealth management firms and financial institutions, including the National Bank of Canada, to modernize their wealth management platforms. TORONTO, April 25, 2018 /CNW/ - Nest Wealth, North America's leading digital wealth solution provider, is pleased to announce SP Wealth LP has chosen the Nest Wealth Pro platform to elevate the firm's digital advice capabilities and offerings. "We are excited to be working with SP Wealth LP to bring greater convenience to their members and advisors," says Randy Cass, CEO of Nest Wealth. "The wealth management industry is rapidly evolving and Nest Wealth Pro provides industry leading firms with a best-in-class technology-driven solution while also allowing them to control costs and their advisors to better serve clients." Nest Wealth Pro is designed to integrate with a firm's existing infrastructure and increase efficiency by automating tasks like client onboarding, KYC and goal tracking. Advisors are able to monitor, communicate and manage all of their clients in one place giving them more time to focus on their existing clients and growing their business. Firms are able to capture key client behaviour, event or required activity to ensure they are always informed and in position to add value. By combining these advantages firms are able to provide a better client experience while being more efficient resulting in significant growth in revenues. "Nest Wealth brings an unrivaled combination of experience and technology to the table that will help us modernize and accelerate our firm. Being able to substantially reduce the administrative work that doesn't add value to our clients and reallocate that time and energy to serve our clients better will greatly enhance our overall platform," said James Fox, CEO at SP Wealth LP.  "Working with some of Canada's largest firms for years and, being able to take their feedback to evolve our platform has led to great innovation for our clients and better outcomes for both advisors and their Canadian investors," said Cass.  About SP Wealth LP SPWealth is an independent wealth management firm that serves the needs of individuals, families, and foundations who want to build and preserve their wealth. Our mission is to deliver expert guidance, superior long-term returns, and exceptional service to our clients. About Nest Wealth Through leading-edge technology and industry-tested investment rules, Nest Wealth provides investors with a smarter, quicker way to reach their financial goals. Nest Wealth is an automated, low-cost, and transparent direct-to-investor wealth management solution that makes it easier for investors to obtain sophisticated management of their financial portfolio. Nest Wealth Pro offers advisors and investment firms a white label digital wealth management solution to better serve their clients through simple onboarding, greater transparency and fully-integrated back office and compliance functionality. Nest Wealth at Work, a fully-digital group RRSP plan, is the only group RRSP offering developed specifically for small-to-medium-sized businesses to quickly and easily offer their employees a path to financial well-being. Together, Nest Wealth has built a better way to invest. SOURCE Nest Wealth

BELLEVUE, Wash.--(BUSINESS WIRE)-- “PACCAR (Nasdaq: PCAR) reported record quarterly revenues and excellent net income for the first quarter of 2018,” said Ron Armstrong, chief exec
Viacom Reports Strong Second Quarter Results
April 25, 2018 11:00 UTC Company Delivered Significant Gains in Operating Income, EPS Worldwide Growth in Media Networks Driven by Double-Digit Gains Across All International Revenue Streams Paramount Pictures Returned to Profitability in the Quarter as Turnaround Efforts Advance NEW YORK--(BUSINESS WIRE)-- Viacom Inc. (NASDAQ: VIAB, VIA) today reported financial results for the second quarter of fiscal 2018 ended March 31, 2018, with gains in operating income and earnings per share. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20180425005487/en/ Paramount Pictures returned to profitability in the quarter, and continued its momentum in April with box office hit "A Quiet Place," the first film produced and released by the studio's new management team. (Credit: Paramount Pictures) Bob Bakish, President and Chief Executive Officer, said, “Viacom continued to accelerate progress against its strategic priorities, delivering improvements across key metrics in the quarter. Our flagship brands increased audience share among important demos for the fourth consecutive quarter, and we saw sequential improvements in domestic advertising and affiliate revenue performance. Internationally, Viacom continued its winning streak, achieving double-digit revenue and profit gains in the quarter while expanding its global footprint through new channel launches and innovative mobile distribution deals across Europe and Asia. Our cost transformation initiatives are well under way; we anticipate more than $100 million in cost savings in fiscal 2018, and now expect over $300 million in run-rate savings in fiscal 2019 and beyond. “At Paramount Pictures, turnaround efforts have firmly taken hold as the studio improved margins and returned to profitability. This month's outstanding box-office performance of A Quiet Place, the first film produced and released under the new team at Paramount, is a clear sign of our progress. “Viacom also took strides to advance its participation into next generation platforms and solutions. We continued to benefit from growth in the vMVPD space, delivered revenue gains in Advanced Marketing Solutions, and significantly increased original content production through Viacom Digital Studios to drive off-linear consumption. Additionally, we continue to diversify into adjacent businesses by building on our live events strategy with upcoming tentpoles including Comedy Central's Clusterfest, the BET Experience, Nickelodeon's U.S. debut of SlimeFest and our first-ever VidCon. “Looking forward, we see continued momentum as we pivot from stabilization and revitalization of our business to a new phase of growth.” FISCAL YEAR 2018 RESULTS (in millions, except per share amounts)       Quarter Ended March 31,     B/(W)     Six Months Ended March 31,     B/(W) 2018     2017     2018 vs. 2017 2018     2017     2018 vs. 2017                 GAAP Revenues $ 3,148 $ 3,256 (3 )% $ 6,221 $ 6,580 (5 )% Operating income 456 332 37 1,173 1,038 13 Net earnings from continuing operations attributable to Viacom 256 121 112 791 517 53 Diluted EPS from continuing operations 0.64 0.30 113 1.96 1.30 51   Non-GAAP* Adjusted operating income $ 641 $ 612 5 % $ 1,358 $ 1,360 — % Adjusted net earnings from continuing operations attributable to Viacom 371 317 17 784 730 7 Adjusted diluted EPS from continuing operations       0.92       0.79       16       1.95       1.83       7   * Non-GAAP measures referenced in this release are detailed in the Supplemental Disclosures at the end of this release.   Revenues in the second fiscal quarter decreased 3% to $3.15 billion, as segment growth in Media Networks was more than offset by lower Filmed Entertainment revenues principally due to fewer theatrical releases and the performance of Paramount's legacy slate. Operating income increased 37% to $456 million, reflecting improvement in Filmed Entertainment operating results and the lapping of a significant programming charge in the prior year quarter. Adjusted operating income grew 5% to $641 million in the quarter. Net earnings from continuing operations attributable to Viacom grew 112% to $256 million, principally due to higher operating income as well as the impact of tax reform. Adjusted net earnings from continuing operations attributable to Viacom increased 17% to $371 million in the quarter. Diluted earnings per share for the quarter increased 113% to $0.64, and adjusted diluted earnings per share were $0.92, an increase of 16%. MEDIA NETWORKS Media Networks revenues increased 1% to $2.43 billion in the quarter, as strong international growth more than offset modest declines in domestic revenues. Worldwide advertising revenues and affiliate revenues remained flat at $1.11 billion and $1.16 billion respectively. Domestic revenues decreased 3% to $1.86 billion while international revenues grew 18% to $566 million. Excluding a 9-percentage point favorable impact from foreign exchange, international revenues grew 9% in the quarter, driven by increases across all revenue streams. Domestic advertising revenues decreased 3% to $841 million, reflecting lower linear impressions, partially offset by higher pricing and growth in Advanced Marketing Solutions revenue, which increased 29%. International advertising revenues grew 11% to $264 million. Excluding a 10-percentage point favorable impact from foreign exchange, international advertising revenues increased 1% in the quarter. Domestic affiliate revenues decreased 4% to $934 million, primarily due to subscriber declines, partially offset by rate increases. International affiliate revenues grew 23% to $222 million in the quarter. Excluding a 9-percentage point favorable impact from foreign exchange, international affiliate revenues increased 14%, driven by increased SVOD and other OTT revenues. Ancillary revenues grew 30% to $168 million in the quarter, primarily driven by growth in consumer product, recreation and live event revenues. Domestic ancillary revenues increased 26% to $88 million, and international ancillary revenues increased 36% to $80 million, including a 12-percentage point favorable impact from foreign exchange. Adjusted operating income for Media Networks decreased 5% to $706 million in the quarter, reflecting higher segment expenses. Performance highlights: Viacom International Media Networks delivered another strong quarter of double-digit revenue and profit gains, while expanding its reach across platforms with new channel launches in the U.K. and Poland, and innovative mobile distribution deals in the Nordics and Indonesia. In January 2018, Viacom sold a 1% stake in joint venture Viacom18 to our partner Network18 to further align our operational strengths and position the business for an exciting new wave of growth in India. Viacom secured distribution of Nickelodeon's Noggin app as one of Amazon's Prime Video Channels. Launching in the third fiscal quarter, this relationship will expand consumer access to Nickelodeon pre-school programming. With the newly-created Viacom Digital Studios, Viacom brands saw year-over-year domestic increases in social video views and minutes viewed by 70% and 78%, respectively. VDS has also led a significant increase in the volume of original content from MTV, BET, Comedy Central and Nickelodeon, with more than 600 hours to be published this year. In April, Viacom renewed its global partnership with Snap to expand its programming slate and increase content for Viacom's tentpoles and live events. Led by its flagship brands, which grew audience share year-over-year for the fourth consecutive quarter, Viacom continued to hold the top share of basic cable viewing in key demos, including Adults 18-34, African Americans and Kids 2-11, among others. MTV achieved its third straight quarter of year-over-year growth in primetime audience share and ratings, driven by eight of the top 40 unscripted cable series. The April premiere of Jersey Shore: Family Vacation broke records as the most watched unscripted debut on cable since 2012, with more than 10 million viewers tuning in over its premiere weekend. Comedy Central increased audience share year-over-year for the fourth consecutive quarter, finishing as the #1 ad-supported entertainment network in cable among millennial men and growing ratings 20% among women 18-49 - an industry best and the network's biggest quarterly increase in more than a decade. BET delivered its third straight quarter of double-digit year-over-year growth in audience share (up 14%) and ratings (up 10%). BET's massive online footprint continued to expand with a 120% increase in views on social platforms, culminating in the first-ever BET Social Awards to celebrate the best of the medium. Paramount Network launched in January as a new home for premium content. Driven by the early success of original miniseries Waco, the network has boosted Live +3 ratings for its original series by 94% since launch. VH1, CMT and TV Land continued their winning streaks, growing year-over-year audience share and ratings in the quarter. VH1 has now delivered 11 consecutive quarters of year-over-year ratings improvement while TV Land and CMT each recorded their highest-rated quarters in four years. FILMED ENTERTAINMENT Filmed Entertainment revenues decreased 17% to $741 million in the quarter, with domestic and international revenues each down 17% to $378 million and $363 million, respectively. Theatrical revenues decreased 79% to $50 million, primarily due to fewer titles in the quarter and a modified release strategy that resulted in certain legacy slate titles moving from theatrical to licensing distribution. Domestic and international theatrical revenues decreased 64% and 86%, respectively. Licensing revenues grew 37% to $477 million in the quarter, primarily driven by the release of The Cloverfield Paradox, as well as Paramount Television product, including The Alienist. Domestic licensing revenues increased 46% while international licensing revenues grew 31%. Home entertainment revenues were down 18% to $163 million, primarily reflecting the number and mix of current quarter releases. Domestic home entertainment revenues decreased 29% while international home entertainment revenues increased 13%. Ancillary revenues decreased 54% to $51 million, with domestic and international ancillary revenues down 63% and 11%, respectively. Filmed Entertainment reported adjusted operating income of $9 million in the quarter compared to a loss of $66 million in the prior year quarter, an improvement of $75 million that reflects lower distribution expenses related to fewer theatrical releases. Performance highlights: Paramount Pictures returned to profitability in the quarter, and is on track to continue growing profits for the second half of fiscal 2018 and into fiscal 2019. The studio continued to advance its turnaround and improve margins through a modified release strategy that guided the successful release of The Cloverfield Paradox and the sale of international distribution rights of Annihilation. The success of A Quiet Place, the first film produced and released under Paramount's new management team, illustrates continued momentum at the studio. The film, which debuted in April, grossed more than $50 million domestically in its first weekend - Paramount's biggest opening since 2016. The film, which cost approximately $20 million to produce, has grossed more than $200 million globally. Upcoming theatrical releases in the fiscal year include Book Club and Mission: Impossible - Fallout, with Overlord and Bumblebee scheduled for 2019. Paramount Players also continued to build up its 2019 slate of branded films, including BET's What Men Want, MTV's psychological horror film Eli and an upcoming comedy from Tyler Perry. Paramount Television delivered another strong performance this quarter, driving increased licensing revenues with the release of TNT's The Alienist, which drew 13 million viewers in its premiere, ranking as this season's #1 new cable drama series in Live +3. Upcoming Paramount Television series premieres include season three of Shooter on USA and the highly-anticipated Tom Clancy's Jack Ryan on Amazon, with 15 more series ordered or in production. The studio continued its efforts to diversify beyond its core businesses; in April, the stage adaptation of Mean Girls opened on Broadway to rave reviews, and the studio recently completed license agreements with developers of theme parks in the Middle East and China. BALANCE SHEET AND LIQUIDITY In the six months ended March 31, 2018, the Company continued to execute on its plan to strengthen its balance sheet, reduce leverage and enhance liquidity, redeeming over $1.0 billion of senior notes and debentures. At March 31, 2018, total debt outstanding was $10.08 billion, compared with $11.12 billion at September 30, 2017, a reduction of $1.04 billion. The Company’s cash balance was $417 million at March 31, 2018, a decrease from $1.39 billion at September 30, 2017. In the six months, net cash provided by operating activities decreased $106 million to $299 million. About Viacom Viacom is home to premier global media brands that create compelling entertainment content - including television programs, motion pictures, short-form content, games, consumer products, podcasts, live events and social media experiences - for audiences in 183 countries. Viacom's media networks, including Nickelodeon, Nick Jr., MTV, BET, Comedy Central, Paramount Network, VH1, TV Land, CMT, Logo, Channel 5 (UK), Telefe (Argentina), Colors (India) and Paramount Channel, reach approximately 4.3 billion cumulative television subscribers worldwide. Paramount Pictures is a major global producer and distributor of filmed entertainment. Paramount Television develops, finances and produces original programming for television and digital platforms. For more information about Viacom and its businesses, visit www.viacom.com. Viacom may also use social media channels to communicate with its investors and the public about the company, its brands and other matters, and those communications could be deemed to be material information. Investors and others are encouraged to review posts on Viacom’s company blog (blog.viacom.com), Twitter feed (twitter.com/viacom) and Facebook page (facebook.com/viacom). Cautionary Statement Concerning Forward-Looking Statements This news release contains both historical and forward-looking statements. All statements that are not statements of historical fact are, or may be deemed to be, forward-looking statements. Forward-looking statements reflect our current expectations concerning future results, objectives, plans and goals, and involve known and unknown risks, uncertainties and other factors that are difficult to predict and which may cause future results, performance or achievements to differ. These risks, uncertainties and other factors include, among others: the public acceptance of our brands, programs, motion pictures and other entertainment content on the various platforms on which they are distributed; technological developments, alternative content offerings and their effects in our markets and on consumer behavior; the potential for loss of carriage or other reduction in the distribution of our content; significant changes in our senior leadership and the ability of our strategic initiatives to achieve their operating objectives; various uncertainties and risks related to a potential combination with CBS Corporation, including that an agreement may or may not be reached or may take an uncertain amount of time, and that the effect of any potential transaction on Viacom and our business cannot be ascertained at this time; economic fluctuations in advertising and retail markets, and economic conditions generally; evolving cybersecurity and similar risks; the impact of piracy; increased costs for programming, motion pictures and other rights; the loss of key talent; competition for content, audiences, advertising and distribution; fluctuations in our results due to the timing, mix, number and availability of our motion pictures and other programming; other domestic and global economic, political, business, competitive and/or regulatory factors affecting our businesses generally; changes in the Federal communications or other laws and regulations; and other factors described in our news releases and filings with the Securities and Exchange Commission, including but not limited to our 2017 Annual Report on Form 10-K and reports on Form 10-Q and Form 8-K. The forward-looking statements included in this document are made only as of the date of this document, and we do not have any obligation to publicly update any forward-looking statements to reflect subsequent events or circumstances. If applicable, reconciliations for any non-GAAP financial information contained in this news release are included in this news release or available on our website at www.viacom.com. VIACOM INC. CONSOLIDATED STATEMENTS OF EARNINGS (Unaudited)       Quarter Ended March 31,     Six Months Ended March 31, (in millions, except per share amounts) 2018     2017 2018     2017   Revenues $ 3,148 $ 3,256 $ 6,221 $ 6,580 Expenses: Operating 1,681 1,944 3,244 3,763 Selling, general and administrative 771 748 1,511 1,449 Depreciation and amortization 55 58 108 114 Restructuring and related costs 185   174   185   216   Total expenses 2,692 2,924 5,048 5,542 Operating income 456 332 1,173 1,038 Interest expense, net (143 ) (158 ) (290 ) (314 ) Equity in net earnings of investee companies 2 18 3 31 Other items, net (28 ) (38 ) (6 ) (35 ) Earnings from continuing operations before provision for income taxes 287 154 880 720 Provision for income taxes (23 ) (26 ) (65 ) (184 ) Net earnings from continuing operations 264 128 815 536 Discontinued operations, net of tax 10   —   12   —   Net earnings (Viacom and noncontrolling interests) 274 128 827 536 Net earnings attributable to noncontrolling interests (8 ) (7 ) (24 ) (19 ) Net earnings attributable to Viacom $ 266   $ 121   $ 803   $ 517   Amounts attributable to Viacom: Net earnings from continuing operations $ 256 $ 121 $ 791 $ 517 Discontinued operations, net of tax 10   —   12   —   Net earnings attributable to Viacom $ 266   $ 121   $ 803   $ 517   Basic earnings per share attributable to Viacom: Continuing operations $ 0.64 $ 0.30 $ 1.97 $ 1.30 Discontinued operations 0.02   —   0.03   —   Net earnings $ 0.66   $ 0.30   $ 2.00   $ 1.30   Diluted earnings per share attributable to Viacom: Continuing operations $ 0.64 $ 0.30 $ 1.96 $ 1.30 Discontinued operations 0.02   —   0.03   —   Net earnings $ 0.66   $ 0.30   $ 1.99   $ 1.30   Weighted average number of common shares outstanding: Basic 402.6 398.2 402.5 397.6 Diluted 402.9 399.5 402.7 398.7 Dividends declared per share of Class A and Class B common stock $ 0.20 $ 0.20 $ 0.40 $ 0.40       VIACOM INC. CONSOLIDATED BALANCE SHEETS (Unaudited) (in millions, except par value)       March 31, 2018     September 30, 2017   ASSETS Current assets: Cash and cash equivalents $ 417 $ 1,389 Receivables, net 3,034 2,970 Inventory, net 965 919 Prepaid and other assets 661   523   Total current assets 5,077 5,801 Property and equipment, net 908 978 Inventory, net 4,012 3,982 Goodwill 11,724 11,665 Intangibles, net 325 313 Other assets 948   959   Total assets $ 22,994   $ 23,698     LIABILITIES AND EQUITY Current liabilities: Accounts payable $ 300 $ 431 Accrued expenses 707 869 Participants' share and residuals 811 825 Program obligations 678 712 Deferred revenue 346 463 Current portion of debt 15 19 Other liabilities 471   434   Total current liabilities 3,328 3,753 Noncurrent portion of debt 10,069 11,100 Participants' share and residuals 343 384 Program obligations 518 477 Deferred tax liabilities, net 315 294 Other liabilities 1,303 1,323 Redeemable noncontrolling interest 264 248 Commitments and contingencies Viacom stockholders' equity: Class A common stock, par value $0.001, 375.0 authorized; 49.4 and 49.4outstanding, respectively — — Class B common stock, par value $0.001, 5,000.0 authorized; 353.2 and 353.0outstanding, respectively — — Additional paid-in capital 10,147 10,119 Treasury stock, 393.6 and 393.8 common shares held in treasury, respectively (20,580 ) (20,590 ) Retained earnings 17,762 17,124 Accumulated other comprehensive loss (549 ) (618 ) Total Viacom stockholders' equity 6,780 6,035 Noncontrolling interests 74   84   Total equity 6,854   6,119   Total liabilities and equity $ 22,994   $ 23,698         VIACOM INC. CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited)       Six Months Ended March 31, (in millions) 2018     2017 OPERATING ACTIVITIES Net earnings (Viacom and noncontrolling interests) $ 827 $ 536 Discontinued operations, net of tax (12 ) —   Net earnings from continuing operations 815 536 Reconciling items: Depreciation and amortization 108 114 Feature film and program amortization 2,245 2,312 Equity-based compensation 35 50 Equity in net earnings and distributions from investee companies 2 (5 ) Deferred income taxes (11 ) (150 ) Operating assets and liabilities, net of acquisitions: Receivables (56 ) (199 ) Production and programming (2,376 ) (2,048 ) Accounts payable and other current liabilities (467 ) (258 ) Other, net 4   53   Net cash provided by operating activities 299   405     INVESTING ACTIVITIES Acquisitions and investments, net (71 ) (343 ) Capital expenditures (64 ) (95 ) Proceeds from asset sales 44 108 Proceeds from grantor trusts 4   49   Net cash used in investing activities (87 ) (281 )   FINANCING ACTIVITIES Borrowings — 2,569 Debt repayments (1,000 ) (2,300 ) Dividends paid (161 ) (159 ) Exercise of stock options 2 115 Other, net (53 ) (34 ) Net cash provided by/(used in) financing activities (1,212 ) 191   Effect of exchange rate changes on cash and cash equivalents 28   (23 ) Net change in cash and cash equivalents (972 ) 292 Cash and cash equivalents at beginning of period 1,389   379   Cash and cash equivalents at end of period $ 417   $ 671       SUPPLEMENTAL DISCLOSURES REGARDING NON-GAAP FINANCIAL INFORMATION The following tables reconcile our results for the quarter and six months ended March 31, 2018 and 2017 to adjusted results that exclude the impact of certain items identified as affecting comparability. We use consolidated adjusted operating income, adjusted earnings from continuing operations before provision for income taxes, adjusted provision for income taxes, adjusted net earnings from continuing operations attributable to Viacom and adjusted diluted earnings per share (“EPS”) from continuing operations, as applicable, among other measures, to evaluate our actual operating performance and for planning and forecasting of future periods. We believe that the adjusted results provide relevant and useful information for investors because they clarify our actual operating performance, make it easier to compare Viacom’s results with those of other companies and allow investors to review performance in the same way as our management. Since these are not measures of performance calculated in accordance with accounting principles generally accepted in the United States of America, they should not be considered in isolation of, or as a substitute for, operating income, earnings from continuing operations before provision for income taxes, provision for income taxes, net earnings from continuing operations attributable to Viacom and diluted EPS from continuing operations as indicators of operating performance, and they may not be comparable to similarly titled measures employed by other companies.   (in millions, except per share amounts)       Quarter Ended March 31, 2018 Operating Income     Earnings from Continuing Operations Before Provision for Income Taxes     Provision for Income Taxes (1)     Net Earningsfrom Continuing Operations Attributable toViacom     Diluted EPS from Continuing Operations Reported results (GAAP) $ 456 $ 287 $ 23 $ 256 $ 0.64 Factors Affecting Comparability: Restructuring and related costs (2) 185 185 44 141 0.35 Gain on asset sale (3) — (16 ) — (16 ) (0.04 ) Investment impairments (4) — 46 10 36 0.09 Discrete tax benefit (5) —   —   46   (46 ) (0.12 ) Adjusted results (Non-GAAP) $ 641   $ 502   $ 123   $ 371   $ 0.92         (in millions, except per share amounts)       Six Month Ended March 31, 2018 Operating Income     Earnings from Continuing Operations Before Provision for Income Taxes     Provision for Income Taxes (1)     Net Earnings from Continuing Operations Attributable to Viacom     Diluted EPS from Continuing Operations Reported results (GAAP) $ 1,173 $ 880 65 $ 791 $ 1.96 Factors Affecting Comparability: Restructuring and related costs (2) 185 185 44 141 0.35 Gain on extinguishment of debt (6) — (25 ) (6 ) (19 ) (0.05 ) Gain on asset sale (3) — (16 ) — (16 ) (0.04 ) Investment impairments (4) — 46 10 36 0.09 Discrete tax benefit (5) —   —   149   (149 ) (0.36 ) Adjusted results (Non-GAAP) $ 1,358   $ 1,070   $ 262   $ 784   $ 1.95         (in millions, except per share amounts)       Quarter Ended March 31, 2017 Operating Income     Earnings from Continuing Operations Before Provision for Income Taxes     Provision for Income Taxes (1)     Net Earningsfrom Continuing Operations Attributable to Viacom     Diluted EPS from Continuing Operations Reported results (GAAP) $ 332 $ 154 $ 26 $ 121 $ 0.30 Factors Affecting Comparability: Restructuring and programming charges (7) 280 280 100 180 0.45 Loss on extinguishment of debt (8) — 30 10 20 0.05 Discrete tax benefit (9) —   —   4   (4 ) (0.01 ) Adjusted results (Non-GAAP) $ 612   $ 464   $ 140   $ 317   $ 0.79         (in millions, except per share amounts)       Six Months Ended March 31, 2017 Operating Income     Earnings from Continuing Operations Before Provision for Income Taxes     Provision for Income Taxes (1)     Net Earnings from Continuing Operations Attributable to Viacom     Diluted EPS from Continuing Operations Reported results (GAAP) $ 1,038 $ 720 $ 184 $ 517 $ 1.30 Factors Affecting Comparability: Restructuring and programming charges (7) 322 322 114 208 0.52 Loss on extinguishment of debt (8) — 36 12 24 0.06 Discrete tax benefit (9) —   —   19   (19 ) (0.05 ) Adjusted results (Non-GAAP) $ 1,360   $ 1,078   $ 329   $ 730   $ 1.83       (1) The tax impact has been calculated by applying the tax rates applicable to the adjustments presented. (2) During the quarter ended March 31, 2018, we launched a program of cost transformation initiatives to improve our margins, including an organizational realignment of support functions across Media Networks, new sourcing and procurement policies, real estate consolidation and technology enhancements. We recognized pre-tax restructuring and related costs of $185 million in the quarter and six months ended March 31, 2018. The charges included severance charges of $123 million, $40 million of exit costs principally resulting from vacating certain leased properties and $22 million of related costs comprised of third-party professional services. (3) We completed the sale of a 1% equity interest in Viacom18 to our joint venture partner for $20 million, resulting in a gain of $16 million in the quarter and six months ended March 31, 2018. (4) We recognized a $46 million impairment loss in the quarter and six months ended March 31, 2018 in connection with the write off of certain cost method investments. (5) The net discrete tax benefit in the quarter ended March 31, 2018 was principally related to the measurement of the deferred tax balances from the retroactive reenactment of legislation allowing for accelerated tax deductions on certain qualified film and television productions, partially offset by a refinement of the transition tax on the deemed repatriation of indefinitely reinvested earnings of our international subsidiaries. The net discrete tax benefit in the six months ended March 31, 2018 was principally related to tax reform. (6) We redeemed senior notes and debentures totaling $1.039 billion in the six months ended March 31, 2018. As a result, we recognized a pre-tax extinguishment gain of $25 million. (7) We recognized pre-tax restructuring and programming charges of $280 million and $322 million in the quarter and six months ended March 31, 2017, respectively, resulting from the execution of our flagship brand strategy and strategic initiatives at Paramount. (8) We redeemed senior notes totaling $2.3 billion in the six months ended March 31, 2017. As a result, we recognized a pre-tax extinguishment loss of $30 million and $36 million in the quarter and six months ended March 31, 2017, respectively. (9) The net discrete tax benefit in the quarter ended March 31, 2017 was related to the release of tax reserves with respect to certain effectively settled tax positions. The net discrete tax benefit in the six months ended March 31, 2017 was principally related to the reversal of a valuation allowance on net operating losses upon receipt of a favorable tax authority ruling, as well as the release of tax reserves with respect to certain effectively settled tax positions. The following table includes a reconciliation of net cash provided by operating activities (GAAP) to free cash flow and operating free cash flow (non-GAAP). We define free cash flow as net cash provided by operating activities minus capital expenditures, as applicable. We define operating free cash flow as free cash flow, excluding the impact of the cash premium on the extinguishment of debt, as applicable. Free cash flow and operating free cash flow are non-GAAP measures. Management believes the use of these measures provides investors with an important perspective on, in the case of free cash flow, our liquidity, including our ability to service debt and make investments in our businesses, and, in the case of operating free cash flow, our liquidity from ongoing activities.   Reconciliation of net cash provided by operating activities to free cash flow and operating free cash flow (in millions)       Quarter Ended March 31,     Better/ (Worse)     Six Months Ended March 31,     Better/ (Worse)       2018     2017 $ 2018     2017 $ Net cash provided by operating activities (GAAP) $ 287 $ 246 $ 41 $ 299 $ 405 $ (106 ) Capital expenditures (36 ) (43 ) 7   (64 ) (95 ) 31   Free cash flow (Non-GAAP) 251 203 48 235 310 (75 ) Debt retirement premium —   27   (27 ) —   33   (33 ) Operating free cash flow (Non-GAAP) $ 251   $ 230   $ 21   $ 235   $ 343   $ (108 )   View source version on businesswire.com: https://www.businesswire.com/news/home/20180425005487/en/ Contacts Viacom Inc.Press:Jeremy Zweig, 212-846-7503Vice President, Corporate Communications and Corporate Affairsjeremy.zweig@viacom.comorAlex Rindler, 212-846-4337Senior Manager, Corporate Communicationsalex.rindler@viacom.comInvestors:James Bombassei, 212-258-6377Senior Vice President, Investor Relationsjames.bombassei@viacom.comorKareem Chin, 212-846-6305Vice President, Investor Relationskareem.chin@viacom.com Source: Viacom Inc. Smart Multimedia Gallery Photo Paramount Pictures returned to profitability in the quarter, and continued its momentum in April with box office hit "A Quiet Place," the first film produced and released by the studio's new management team. (Credit: Paramount Pictures) Photo In the quarter, Viacom accelerated progress against its three strategic priorities for growth. (Credit: Viacom) Photo Viacom International Media Networks delivered another strong quarter of double-digit revenue growth. (Credit: Viacom) Photo Short-Form Video Consumption Caption: Viacom brands continue to drive significant gains in social views and watch time through original digital video content. (Credit: Viacom) Photo Viacom continues to strengthen its live events business, doubling global attendance in the quarter. (Credit: Viacom) View this news release and multimedia online at: http://www.businesswire.com/news/home/20180425005487/en

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Redfin Mortgage Launches in Ohio
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New York Community Bancorp, Inc. Reports First Quarter 2018 Diluted Earnings Per Common Share Of $0.20 On Continued Loan Growth And Lower Expenses
BOCA RATON, Fla.--(BUSINESS WIRE)-- Waypoint Residential, a vertically integrated real estate investment firm focused on the U.S. rental housing sector, announced that it has acqui
Indexed Annuity Leadership Council (PRNewsfoto/Indexed Annuity Leadership Coun)
New Data Breaks Workforce Stereotypes: Two Blue-collar Industries Outpace White-collar Retirement Readiness
WASHINGTON, April 25, 2018 /PRNewswire-USNewswire/ -- The story of saving for retirement today has two key factors: the industry you are in and your company size. Newly released retirement-readiness scores show workers in two blue- and gray-collar fields, Engineering and Protective Services, are better prepared for retirement compared to all workers – outpacing even white-collar employees – reports The State of America's Workforce, a national study commissioned by the Indexed Annuity Leadership Council (IALC).  Yet overall, blue- and gray-collar industries are less prepared for their golden years, with eight of 11 scoring below average. The numbers are especially bleak for workers in the Food Preparation and Personal Care industries. The bottom-ranked industries show a barrier of access to employer-sponsored plans, which traditionally have provided accumulation and lifetime income opportunities.  In fact, more than one-third of workers who are unprepared for retirement say they don't have access to retirement plans or products, leaving them to create a self-driven plan for saving enough and making it last as long as they do.    "Long-term planning is hard enough when we know all related variables, but retirement planning is riddled with unknowns, whether you have an employer-sponsored plan or not," notes Kristen Berman, co-founder and principal at Common Cents Lab at Duke University and a collaborator on the study. "One option to introduce certainty into the retirement equation is exploring a savings vehicle that provides a guaranteed lifetime income, like a fixed indexed annuity. This type of annuity leans into our desire for certainty by providing a steady stream of funds, helping Americans solve the complex math problem known as retirement savings." The quest for a stable income you can't outlive is a goal shared by the majority of America's workforce, with almost 80 percent reporting this as their number one retirement need. Unfortunately, more than three-quarters of workers plan on meeting this need by relying on Social Security. Given the sustainability concerns of Social Security, it is important to consider additional savings vehicles, like fixed indexed annuities, which also provides guaranteed lifetime income, in addition to principal protection from market declines and tax-deferred growth. However, currently only two percent of pre-retirees are taking advantage of this option.  "A diversified portfolio is a proven strategy for income growth and wealth protection," said Jim Poolman, Executive Director of the IALC. "Fixed indexed annuities can be combined with Social Security, independent accounts, and other employer-sponsored options, if available, to help ensure a balanced financial plan, while also being the one product in the mix to assure a lifetime income stream that keeps going." Financial planning is not only saving for retirement, it is also about securing retirement income to last the long haul. Financial resources such as online calculators and budgeting tools can help ensure an accurate, customized plan is in place to ensure funds will last a lifetime. For workers getting close to retirement age, financial retirement goals shift from accumulation of wealth to principal protection and longevity of dollars. "If you have qualified dollars, from vehicles like 401(k)s or IRAs, and are looking at next steps for when you retire, many wonder how to take what they have accumulated and make it last," comments Poolman. "A fixed indexed annuity provides principal protection from market fluctuations and guarantees a reliable income check that is predictable and will not stop for the duration of your retirement."  To learn more about The State of America's Workforce study and white paper, visit: http://fiainsights.org/americasworkforce. For more information on retirement planning and fixed indexed annuities, visit IALC's educational website or follow the IALC on Twitter, Facebook and LinkedIn. About The State of America's Workforce All data is based on a large-scale, quantitative survey of 2,103 U.S. full-time working Americans conducted during March 2018 by Research Now, a global market research company with more than 11 million panelists. White-, blue- and gray-collar workers, as classified by the Bureau of Labor Statistics (BLS), were included in the survey population. The study's retirement-readiness scores are calculated based on the percent of the money needed for retirement that respondents reported already saved.  About the Indexed Annuity Leadership Council The Indexed Annuity Leadership Council (IALC) brings together a consortium of life insurance companies with a commitment to providing consumers, the media, regulators and industry professionals factual information about the use of fixed indexed annuities. Namely, that these products provide a source of guaranteed income, principal protection from market declines, and interest rate stability in retirement as well as balance to any long-term financial plan. View original content with multimedia:http://www.prnewswire.com/news-releases/new-data-breaks-workforce-stereotypes-two-blue-collar-industries-outpace-white-collar-retirement-readiness-300636320.html SOURCE Indexed Annuity Leadership Council (IALC)
Finance Attitude - 8 Common Types of Investment Risks
One of the biggest fears that engulf everybody when they think of investing is the loss of their hard-earned money. A risk is inevitable as every investment involves some degree of risk or taking some calculated risk. It is believed that the higher the risk the higher the returns. A risk is the level of uncertainty that a particular investment will gain if you invest in it or the level of a potential financial loss that you are likely to incur if you invest in a particular asset. Every investor should be concerned about the investment risk as much as they are concerned about the possibility of returns. Investing requires understanding the level of risks involved.  
Finance Attitude - 4 Common Types of Orders when Trading in Stocks
It is important for every stock investor to know the different types of orders in the stock market and when it is appropriate to apply them especially when you want to sell or buy stocks through a brokerage firm. Trade orders are instructions that are given to brokers to buy or sell a stock. All trades must have two orders which consist of an order to get into the trade or the buy order and an order to exit the trade or the sell order.  
Finance Attitude - 3 Ways to Trade Forex
Forex exchange is an international market for trading currencies. According to a survey by the Bank for International Settlements in 2016, the average daily forex trading was 5.1$ trillion and of this, spot trading made up $2.6Traders have trillion.  
Finance Attitude - 6 Major Types of Strategies Traders can Opt for in Forex Trading
6 Major Types of Strategies Traders can Opt for in Forex Trading
Trading Forex (FX) involves trading of currencies where you can buy one currency while selling another for speculation purposes. Forex trading just like any other investment involves taking calculated risks. When trading forex, you can make profits or losses. You need to master the best forex strategies that can work for you to benefit from forex trading. Currencies tend to fluctuate due to various factors like geopolitical, economical and more. The aim of trading in currencies is to make profits from the changes in prices.  Here are 6 major types of strategies that traders can employ in forex trading: 1.    Forex Scalping Strategy This strategy involves making a large number of trades and each trade makes small profits of about 5-10 pips per individual trade. This strategy requires constant forex analysis to be able to place multiple trades simultaneously and make profits. Trades in this strategy are very short-lived, possibly held just for just a few minutes and a trader seeks to quickly beat the bid/offer spread and make just a few points of profit before closing. If you opt for this strategy, you need to be very active in trading to avoid missing out on good opportunities. 2.    Forex Trend Following Trading Strategy This strategy attempts to make use of the market trend mechanism with an aim of taking advantage of the long-term goals. Traders who choose this trading strategy use channel breakouts, current market price calculation and the moving average to determine the market direction and to generate signals. If you opt for this strategy, you do not need to forecast or predict the price levels. You simply follow the trend. This strategy deploys a risk management component that makes use of the current market volatility, current market price and the number of shares held. 3.    Forex Volatility Trading Strategy Price volatility involves sharp movements in the prices. Volatility breakout systems are systems that are made to take advantage of this type of price actions. Their characteristics are: they don’t take advantage of the big moves, deals with short terms and quick trades, are based on the increase in volatility and the winning percentage of trades is higher, but the profit earned per trade is comparatively low. It is thus advisable to opt for this strategy if you have a good understanding of this volatility system. 4.    Forex Breakout Trading Strategies Breakout strategy is a strategy that occurs when there is a breakout. A breakout is a point where the market tends to break away or starts to move away from a trading range. The trading range can be for any length. A breakout occurs if the price exceeds the higher or, the lower range. In simpler terms, a breakout occurs when the price moves beyond the highest high or lowest low for a specified number of days. For you to make money using this strategy, you need to be involved in buying higher and selling higher in the bull market and if you are dealing with the Bear market, you have to sell low and buy back lower. 5.    Forex Swing Trading Strategies This trading strategy is simple and does not require you to hold the long-term trends to make profits. Swing trading involves having a set target and once you reach that target then that is the moment you opt out. This strategy is an excellent option if you are just starting forex trading as you do not have to be a long-term trend follower. 6.    Forex Support and Resistance Trading Strategies Support in forex is actually a zone where the buyers tend to be more than the sellers, and the price tends to increase in value. The resistance is the opposite of support and means that the sellers are more than the buyers and thus that result in a price drop. These terms represent the tendency of a market to bounce back from previous lows and highs. Support is where the markets tend to rise from a previously established low and resistance is where the market tends to fall from a previously established high. You can opt to buy at the resistance and sell at the support. Resistance and the support are important parameters that tend to keep on changing depending on the market dynamics. Explore the Forex Support and Resistance Strategies thoroughly before you decide to apply this strategy.
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iComply Investor Services Inc. (PRNewsfoto/iComply Investor Services Inc.)
Jeff Bandman, Former Senior Official of the CFTC, Appointed to iComply Advisory Board
VANCOUVER, British Columbia, April 25, 2018 /PRNewswire/ -- iComply Investor Services (iComply), a RegTech software company that created the world's first global regulatory automation service for blockchain securities, is announcing that Jeff Bandman has joined the company's advisory board. "When Matthew reached out, I was immediately intrigued, it seemed like an ideal use of blockchain—building compliance into the tokens themselves. As a former regulator, this resonated with me. Making tools of this kind available to the public will help to create a culture of compliance," said Jeff Bandman, Principal at Bandman Advisors, a consulting and advisory practice focused on innovation and regulation in financial services with special expertise in FinTech and RegTech. "When I saw Jeff testify during an SEC hearing, I realized we shared a common view of how blockchain can be used to programmatically enforce compliance into the transaction of capital. It's an honour to have his experience as a regulator, innovator and technologist as we leverage blockchain to build a better capital market on integrity and immutable transparency," said Matthew Unger, CEO and Founder of iComply. Prior to forming Bandman Advisors, Bandman served in senior leadership roles at the CFTC, including serving as its first FinTech Advisor and founding director of LabCFTC. He also led FinTech and RegTech coordination with domestic and international regulators, chaired an international regulator workstream on post-trade digital innovation, and chaired the CFTC staff blockchain, virtual currency and FinTech working group, as well as leading the CFTC's Division of Clearing and Risk, which oversees several of the world's largest clearinghouses. "Today, most data and reporting comes into regulators at the end of the day, or else the next day or even later—at the end of a month or quarter, and so on. Regulators are therefore seeing events in the rear-view mirror, well after they have already occurred. With this next-generation technology and the ability to harness real-time data from distributed ledgers, future regulators may be able to monitor events as they unfold...to see through the windshield instead of through their rear-view mirror," said Bandman in his October 2017 testimony to the SEC Investor Advisory Committee. iComply's automated compliance protocol, "Prefacto Compliance," for securities regulation enables blockchains to assess and report on both the buy and the sell side before a transaction executes. This consolidates auditing into a single immutable ledger of compliance while enabling ICO issuers, security token platforms, licensed stock exchanges and investors to launch and trade coins or tokens in compliance with global securities, identity and privacy regulations. iComply's software also enables reporting on the sources of funds that come from a blockchain ledger in real time, supporting anti-money-laundering (AML) and anti-terrorist-financing (ATF) efforts of financial institutions and governments more securely and cost-effectively. "It was especially important to us to keep identity information separate from the compliance and transaction ledgers to avoid another Equifax or EDGAR situation. iComplyID acts as a portable KYC (know-your-customer) solution for digital identity management in financial services and government applications," said Unger. "Blockchain offers revolutionary potential for decentralized, distributed systems where users can own and control their own data. They can determine themselves who is or is not trusted … The investor decides who sees her personal and financial data, her investment and transaction history, instead of relying on a third party financial institution to transfer her information, or having to start over and reenter all the information every time," continued Bandman in his October 2017 SEC testimony. Since the company's launch in 2017, iComply is currently in productive discussions with regulators worldwide and has already begun serving customers globally. About iComplyiComply Investor Services Inc. (iComply) is a regulatory technology company focused on digital identification, legal workflows and compliance automation for initial issuance and secondary trading of tokenized assets (security and utility). The technology also interacts beyond blockchain and can be used by traditional and decentralized companies alike. iComply currently has two major components: Prefacto Compliance and iComplyID. Prefacto is the first solution to unlock compliant secondary trading for decentralized assets and is technology agnostic—meaning that new blockchains, mesh networks, or centralized trading systems can be integrated securely. iComplyID covers identity verification and investor privacy. An integrated ecosystem, the software streamlines legal and accounting processes and provides automated checks and balances which occur before a transaction is posted, enabling an efficient workflow between investors, regulators, securities issuers, and capital markets service providers. Learn more: iComplyICO.com Contact: Brittany WhitmoreEmail: 193976@email4pr.com Phone: 1-778-238-6096 View original content with multimedia:http://www.prnewswire.com/news-releases/jeff-bandman-former-senior-official-of-the-cftc-appointed-to-icomply-advisory-board-300636127.html SOURCE iComply Investor Services Inc.