"Bull of the Day: Shift4 Payments (FOUR)", 11 AUGUST

 Shift4 Payments (

FOUR - Free Report)  is a Zacks Rank #1 (Strong Buy) that is a provider of integrated payment processing and technology solutions. The company provides omni-channel card acceptance and processing solutions, including credit, debit, contactless card, Europay, Mastercard and Visa, QR Pay, and mobile wallets, as well as alternative payment methods.

FOUR has been underperforming most tech companies, up only 12% on the year. For the most part, the stock has been sideways since making its initial 2023 gains back in January.

The company recently posted a positive earnings report and analysts are taking estimates higher. Investors should be watching the stock for potential technical support, followed by a move higher into the end of the year.

About the Company 

The company was founded in 1999 and is headquartered in Allentown, Pennsylvania.

The stock has a Zacks Style Score of “A” in Growth and Momentum, but “C” in Value. The Forward PE is 24 and the stock has a market cap of $5 billion.

FOUR employs 2,300 employees and operates in Europe, Japan, and North America.  

Q2 Earnings Beat 

In early August, FOUR beat earnings expectations by 51%. This was the sixth straight EPS beat that stretches back to early 2022. Since the start of this earnings streak, the stock is up 40%.

Looking at the quarter, Q2 came in at $0.74 v the $0.51 expected. Adjusted EBITDA was $110M v the $66M last year.

Shift4 Payments raised its FY23 guidance, now seeing End-to-End payment volume at $108-114B v the $104-110B prior. This is an increase of 45-54% year over year.

Gross revenues, adjusted EBITDA, and FCF for FY23 were also taken higher.

Analyst Estimates 

Analysts reacted to EPS and the guidance raise by lifting estimates across the board.   

Since earnings, estimates for the current quarter have gone from $0.66 to $0.69 or 5%. Next quarter is where it gets impressive, with estimates going from $0.65 to $0.78 over the last 7 days. This is a 20% jump, which is almost matched by a 15% jump in the current year.  

Looking at the numbers for next year, estimates have gone from $3.02 to $3.34 over the last 7 days or 11%.

Since earnings, multiple analysts have taken price targets higher for FOUR:

UBS reiterated the stock with a Buy and took its price target to $100, up from $93. 

Credit Suisse reiterated FOUR with an Outperform and raised their price target to $80 from $75.

Morgan Stanley maintained its Underweight but lifted its price target to $52 from $50.

The Technicals

The stock started the year out around the $50 level and then marched to $75, good for about a 50% move. Since April, the stock has traded in a sideways range between $60 and $70.

As FOUR drifts lower on market weakness, investors should be watching support levels for potential buys. The 200-day MA resides at $61 and would likely be a big spot for bulls. This would front-run the $60 level which has been support four times since the April lows.

If a larger market sell-off hits the stock, the $52.50 area is the 61.8% retracement drawn from November lows to April highs.

For the bulls to take charge, the price needs to get over the $67 level. This would be a move above both the 50-day and 21-day MA. That scenario would not only bring more attention to the stock, but it would also signal a potential break of the $70 resistance.

Bottom Line 

While FOUR has been trading sideways during market strength, there are reasons to believe that an eventual up move could come as we close out the year.

Estimates are headed higher and if that earnings momentum continues, we should see the bulls eventually take out that resistance that has held the stock down since April.

https://www.zacks.com/commentary/2135318/bull-of-the-day-shift4-payments-four?art_rec=home-home-featured_zacks_rank_stocks-ID01-txt-2135318

"STEPS OF IRAQ FOR ECONOMIC ADVANCEMENT & INVESTMENT REVIVAL", 11 AUGUST

 Development Fund.. a step for economic advancement and investment revival

Economical 2023/08/10
 Baghdad: Haider Fleeh Al-Rubaie

Specialists in economic affairs praised the government’s approach to establishing the “Development Fund for Iraq,” stressing the 

importance of the step in achieving a package of achievements, 

including allowing various forms of financing partnerships such as loans, international grants, and allocations from the general budget, or issuing financing bonds and local and international partnerships with the private sector. 

And while they indicated that the fund would develop and diversify non-oil resources, 

they pointed out that the development path project would be the real nucleus of the work of the Iraq Fund.

The Prime Minister, Muhammad Shia'a al-Sudani, revealed that 

"the cabinet approved the system of the Iraq Fund for Development, and 

we are working to form a board of directors, and 

we have received offers from Arab and foreign investment funds to participate in the fund, as well as 

we have received requests from the private sector to implement projects within the Iraq Fund for Development." 

The fund can achieve many economic and development goals, foremost of which is the possibility of improving the investment environment, launching sustainable development, finding solutions to economic, social and environmental crises, as well as creating a qualitative change in the adoption of technology and modern systems in management, as well as its ability to finance projects that address gaps in the powers of ministries..

The fund can also create job opportunities through investment projects, develop human capital and skills to match market requirements, in addition to its ability to attract the financial mass of the private sector and employ it in projects.

In addition to the many economic advantages that the fund can achieve, the financial advisor to the Prime Minister, Dr. Mazhar Muhammad Salih, believes during his interview with "Al-Sabah" that 

"the Iraq Fund is one of the strategic methods for investing in major development projects across the provinces and has the ability to provide backlinks." 

and frontally with production chains and other investments in a correlative manner. 

Saleh explained that the fund is characterized by providing two important directions, which are the 

sustainability of financing throughout the life of the implementation of the strategic project without stumbling, which means high implementation efficiency through a network of interconnected investments, as well as 

allowing various forms of financing partnerships such as loans, international grants, allocations from the general budget, or the issuance of financing bonds. Or local or international partnerships with the private sector, depending on the nature of the project and its internal and external extensions.

The financial advisor believes that the "Development Road Project" will be the true nucleus of the work of the Iraq Fund and its associated networks of industrial cities, infrastructure, etc., as well as the possibility of this new economic formation becoming the planning, financing, and executive investment arm, whether independently of the government or through strategic partnerships. with the private sector.

Counselor Saleh suggested, 

"Creating an effective management description for the fund that has three pillars at once, the 

first of which is economic and engineering planning for the strategic projects that the fund will undertake to approve, and the 

second is the establishment of an administrative and engineering technical apparatus that undertakes follow-up on the implementation of projects upon their approval and monitors completion rates, accuracy of implementation, and control of exchange, in When the 

third pillar is concerned with financing management and the flow of incoming and outgoing sources of funds, meaning the accuracy of spending on projects.

In addition, the economist, Dr. Hussein Jaber Al-Khakani, confirmed to Al-Sabah that 

“the establishment of a development fund is an important direction and sound thinking and the adoption of scientific solutions in the face of crises, and that 

seriousness and readiness for speedy implementation and the use of successful experiences of countries in this field represent a successful step.” And a good starting point for the government in its early works.

In order for the Fund to succeed, Al-Khakani urged that 

it “be independent financially and administratively and not be under the umbrella of any ministry, 

but rather be linked to the Prime Minister or the Council of Ministers, in order for it to have freedom of movement in implementing government policy and the activities for which it was established,” stressing at the same time, 

He stressed the importance of the fund working "in a private sector way in management, employment, investment and contracting with experts and consultants with the specializations it needs to enable it to perform its work in the best way." 

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Prime Minister: The unified treasury account will be an added contribution to anti-corruption measures 

 Politics 08-9-2023, 16:19
Baghdad – conscious 

Today, Wednesday, Prime Minister Muhammad Shia'a Al-Sudani affirmed that the unified treasury account will be an added contribution to anti-corruption measures.

The media office of the Prime Minister stated, in a statement received by the Iraqi News Agency (INA), that 

"Prime Minister Muhammad Shia'a al-Sudani chaired today, Wednesday, a meeting to follow up on the completion of the unified treasury account and electronic payment procedures at POS points of sale."  The statement added, "During the meeting, they reviewed the progress made in completing the unified treasury account , and the subsequent positive indicators that are reflected in the national financial and banking system."  

Al-Sudani stressed, according to the statement, that "these steps come within the government's efforts to implement financial and banking reforms, and the unified treasury account will be an added contribution to anti-corruption measures and limiting the ability of corrupt people to exploit loopholes."  And he directed, "to make an amendment to the electronic payment system No. 3 of 2014, as well as the adoption of the electronic receipt document as a substitute for the paper receipt, as part of a series of procedures towards employing and approving electronic payment at POS points of sale in an expanded manner, in the public and private sectors." 

https://www.ina.iq/191194--.html 

, and the subsequent positive indicators that are reflected in the national financial and banking system."  

Al-Sudani stressed, according to the statement, that "these steps come within the government's efforts to implement financial and banking reforms, and the unified treasury account will be an added contribution to anti-corruption measures and limiting the ability of corrupt people to exploit loopholes."  And he directed, "to make an amendment to the electronic payment system No. 3 of 2014, as well as the adoption of the electronic receipt document as a substitute for the paper receipt, as part of a series of procedures towards employing and approving electronic payment at POS points of sale in an expanded manner, in the public and private sectors." 

https://www.ina.iq/191194--.html 

DINARLAND UPDATE, 11 AUGUST

 MilitiaMan (KTFA)

Article quote:
“Financial Experts for the adoption of the slogan ‘Our Dinar‘ “

The Iraqi people are about ready to start focusing in on their currency.  The Central Bank is doing so and now even financial experts are out there trying to get the media and other entities to be on board.

It’s pretty powerful they’re talking about Iraq is going to join the global financial system.  Well, they’re not going to do that with a program rate of 1310.  They would have done it already…

MarkZ

[via PDK]

News is still quiet. Even things specific from Iraq has been quiet for me…So far no changes in rates…

…Somebody making a reservation at a very expensive hotel in California, went online to try to book a room. As he was about to pay – he noticed something new on the website. They take different currencies as payment- a list of 30 or 40 of them from different countries… including  Iraq and Vietnam …The question was asked “Do you know what this means?”  and the booking agent said “I know exactly what this means-all the currencies are getting ready to be in line 1 to 1 with each other.“   There are even McDonalds now that you can pay with multiple currencies… Different people at well connected places are starting to hear this…its getting out.

Bruce (The Big Call)

[via WiserNow]

…we were looking forward from about three or four different sources to this going…meaning notifications either Tuesday or Wednesday…Now, the way it stands now, we have not received notifications…but it definitely makes Thursday…definitely in play…Let’s see what happens over the next few days.

"IRAQ BOOTS ON THE GROUND REPORT" BY FIREFLY, 11 AUGUST

 [Iraq boots-on-the-ground report]

FIREFLY: Bank friend says he still thinks we’re going to see one more change to maybe 1166 or maybe 1000 then it will get good.

FRANK: I told you the very same thing that there would be one more exchange rate change before the final official exchange rate to start to float and then they can get it to 1166 and they can come out at $1.16 which is fine with me.

FIREFLY: Some kind of new edition of oil and gas law about to be revealed.

FRANK: When you see what this new addition to the HCL law is and you see that it is in position to be presented to the citizens then dog gone it that tells you there is a new exchange rate to give sovereignty to the citizens of Iraq…

Question:
“If Iraq goes to 1 to 1 are we also 1 to 1 even internationally?”

Yes, immediately, instantly.  For example a 25000 note at 1 to 1 for you becomes…a value of $25,000.

THE BIG CALL HIGHLIGHTS, 11 AUGUST

 Thurs. 10 Aug. 2023 Bruce, The Big Call The Big Call Universe (ibize.com)  667-770-1866, pin123456#

• Bond Holders were looking to be notified on Fri. 11 Aug. and get access to their funds on Sat. 12 Aug.
• Tier 4b should be notified  to receive appointments to exchange foreign currencies and redeem Zim bonds within 48 hours of Bond Holders.
• The BRICS Summit was Aug. 22-24
• Gold/asset-backed USN should be announced between Aug. 18-21
• At 4 am this morning Thurs. 10 Aug. the direct payment system was activated to send funds internationally person to person.
• Redemption Center Staff have been on the job since last Tues. 8 Aug.
• The EWS (Emergency Wireless System) will be tested at 2:20 pm EST on Fri. 11 Aug.
• Right now International Martial Law was in place across the Globe and in 7 states and 70 US cities that were considered hot spots.