Stock Markets
Discover the New Marriott Duo in Vail Valley – Opening June 2024!
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Perfectly nestled between Vail and Beaver Creek’s prime attractions.
AVON, Colo., July 9, 2024 /PRNewswire/ — The 116-suite SpringHill Suites by Marriot and 127-suite TownePlace Suites by Marriott in Avon, Colorado opened Tuesday, June 25th, 2024. With pet friendly suites embracing a mountain ethos, we offer unparalleled flexibility to tailor our guests experience. Located at 1782 Swift Gulch Road, the all-suite dual brand hotel will operate as a Marriott franchise. Owner JMA Ventures, LLC served as the project developer and managed by Pyramid Global Hospitality.
Perfectly situated, this Marriott duo offers the ideal valley location. Just 10 minutes from the base of Beaver Creek and Vail mountains, it provides easy access to the Eagle River and over 100 miles of paved bike paths. Land investor Traer Creek and JMA Ventures, LLC understood at the onset the significance of the location and bringing a quality product with an elevated design that could complement the surrounding area and set the tone for development north of Exit 168.
“JMA Ventures, LLC is excited to bring a high-quality Marriott dual brand hotel to the Avon / Vail Valley,” says JMA’s Vice President, Gaelan Kerr-Koppel. “JMA and Traer Creek identified a missing middle in the current hotel market surrounding the Vail and Beaver Creek resorts and believes these new SpringHill Suites and TownePlace Suites hotels will cater to demand from the growing Denver metro, domestic and international travelers, and serve as a community hub and centerpiece to the entrance to the Town of Avon.”
The hotel exudes the charm and warmth of a cozy mountain cabin, featuring custom-made decorative pieces that reflect the region’s artisanal craftsmanship. The inviting spaces are enhanced by vaulted ceilings, creating an airy yet intimate atmosphere reminiscent of a luxurious residence. Every detail seamlessly blends with the picturesque landscape, offering guests a harmonious and tranquil retreat. Kerr-Koppel shares “The hotels feature a shared lobby gathering space and signature bar set against the south facing, two story atrium glass that features tremendous and expansive views of the Vail Valley.”
While on property, guests can create their own complimentary hot breakfast every morning in the lobby area and can fire up their stay by grilling up dinner on the outdoor Weber grills. Other hotel amenities include an outdoor swimming pool and hot tub, a fitness center open 24 hours per day, a meeting room, laundry facilities, complimentary Wi-Fi throughout the hotel and on-site business services, including copying, faxing and printing. We recognize that families may include more than just humans, which is why SpringHill Suites & TownePlace Suites is pet-friendly (fees may apply).
Corduroy Bar and Lounge offers a delightful selection of simple yet scrumptious bites, paired perfectly with our thoughtfully curated specialty beverage menu. “This isn’t your typical SpringHill Suites and TownePlace Suites hotels. These hotels feature a lobby bar; it provides a unique and inviting ambiance that sets it apart. Enjoy stunning valley views as you relax and savor the exceptional flavors in every visit.” Shares General Manager, Drew Gunderson.
Local and Colorado native, Pam Brown, Director of Sales & Marking says “Our outdoor living space is truly exceptional, featuring an activity lawn perfect for your favorite yard games, a fire pit for relaxation after a day of exploration, and an outdoor pool and hot tub. The views from sunrise to sunset are unparalleled. We eagerly anticipate welcoming you to experience it all!”
Kerr-Koppel joyfully ends with, “JMA Ventures, LLC would like to thank all of our partners who assisted in the development of the hotels including the Town of Avon, Traer Creek, Benefit Street Partners, and the Village (at Avon) Design Review Board.”
SpringHill Suites caters to the modern, savvy traveler seeking style and convenience, offering spacious suites larger than typical hotel rooms. Each suite features separate living, working, and sleeping areas, with comfortable beds and plush pillows for an optimum night’s sleep. The custom West Elm ® sofa and swivel chair add stylish relaxation options, while the well-lit workspace ensures maximum productivity.
TownePlace Suites excels in providing comfortable suites tailored for longer stays, featuring fully equipped kitchens and the convenient Elfa ® closet system from The Container Store ®. Guests can work and relax in modern studio and one-bedroom suites with stainless steel appliances, adjustable workspaces, and large flat-screen TVs. Each suite offers distinct living, working, and sleeping areas, ensuring a flexible and comfortable stay.
Stock Markets
Five9 stock hits 52-week low at $28.74 amid market challenges
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In a turbulent market environment, Five9 (NASDAQ:) Inc’s stock has touched a 52-week low, reaching a price level of $28.74. This significant downturn reflects a broader trend for the cloud software company, which has seen its shares plummet by -58.79% over the past year. Investors are closely monitoring Five9’s performance as it navigates through a period of heightened volatility and shifting industry dynamics, which have contributed to the stock’s current valuation at this low point. The company’s efforts to rebound from this position will be under scrutiny in the coming quarters as market participants look for signs of a strategic turnaround or further indications of market pressures.
In other recent news, Five9 Inc . has achieved an annual revenue run rate exceeding $1 billion in Q2, a significant milestone despite lowering its annual revenue guidance by 3.8% due to customer budget constraints. The company’s adjusted EBITDA margin rose to 17% of revenue, contributing to a strong operating cash flow of $126 million. The company also confirmed plans to reduce its global workforce by approximately 7% by the end of 2024, a strategic move projected to cost between $12 million and $15 million.
Five9’s recent acquisition of Acqueon, a firm specializing in proactive outbound omnichannel customer engagement, aims to expand its AI offerings and bolster its growth. This move is in line with the company’s focus on managing expenses and improving profitability, with initiatives like FedRAMP and expansion into India anticipated to improve gross margins.
In their analysis, Piper Sandler maintained an Overweight rating for Five9, with a steady price target of $47.00, while Needham and BTIG both maintained a Buy rating with price targets of $48.00 and $45.00 respectively. These ratings reflect the firms’ confidence in Five9’s strategic positioning and potential for growth, despite the current challenges and workforce reduction.
InvestingPro Insights
Amid the current market conditions, Five9 Inc’s recent performance can be put into perspective with select data from InvestingPro. The company’s market capitalization stands at roughly $2.15 billion, indicating the size and scale of the business amidst its challenges. Despite the stock’s decline, analysts are showing a hint of optimism, with 20 analysts having revised their earnings estimates upwards for the upcoming period. This could signal a potential turnaround in sentiment or underlying business performance.
Importantly, Five9’s liquid assets are reported to surpass short-term obligations, suggesting that the company maintains a degree of financial flexibility to navigate its current difficulties. Furthermore, while the stock is trading near its 52-week low, it’s worth noting that the relative strength index (RSI) suggests the stock is in oversold territory, which can sometimes precede a rebound in share price. Investors looking for comprehensive analysis and additional InvestingPro Tips on Five9 can find more insights, including 14 other tips, at https://www.investing.com/pro/FIVN.
In terms of financial health, the company operates with a moderate level of debt and is expected to become profitable this year, according to analysts’ predictions. These elements may offer some solace to investors considering the stock’s substantial price fall over the last year. For those seeking a deeper dive into Five9’s valuation and future prospects, the InvestingPro platform provides a fair value estimate of $45.04, which is considerably higher than the current trading price, suggesting potential undervaluation.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.
Stock Markets
TD Cowen maintains Buy on Terns Pharmaceuticals
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TD Cowen reiterated its Buy rating on shares of Terns Pharmaceuticals (NASDAQ:TERN), following the company’s investor call. The call was held to manage expectations for the upcoming Phase 1/2 CARDINAL study data for chronic myeloid leukemia (CML). The firm noted the challenges in measuring the efficacy endpoint (EP) due to disease progression and the absence of treatment switch guidelines, which makes major molecular response (MMR) a challenging efficacy endpoint for Phase 1/2 trials.
The interim Phase 1/2 data aims to evaluate descriptive efficacy signals, considering patients’ baseline BCR-ABL levels and treatment history. The analyst highlighted that the once-daily (QD) dosing and the lack of food effect could potentially enhance the quality of life for patients compared to other allosteric tyrosine kinase inhibitors (TKIs).
Terns Pharmaceuticals has been focusing on the development of improved treatment options for CML. The company’s approach to dosing, which does not require food intake, may offer a more convenient alternative for patients, potentially leading to better adherence and outcomes.
The topline data from the 6-month Phase 1/2 CARDINAL study is anticipated to be available in 2025. This data will provide further insights into the treatment’s efficacy and safety, which are critical factors in the ongoing development and potential approval process.
Investors and stakeholders in Terns Pharmaceuticals are expected to closely monitor the progress of the CARDINAL study, as it could have a significant impact on the company’s future prospects and position in the CML treatment landscape.
In other recent news, Terns Pharmaceuticals has experienced significant developments. The biopharmaceutical company reported robust earnings and revenue results, with Mizuho Securities maintaining an Outperform rating on Terns shares, citing strong enthusiasm for the company’s drug, TERN-701, a potential treatment for chronic myeloid leukemia.
The firm expects the first interim Phase 1 CARDINAL study data for TERN-701 in December.
Terns also announced the appointment of Elona Kogan as its new chief legal officer, a move that underscores the company’s strategic development and pipeline advancement.
The company also secured an extension of its office lease in Foster City, California, through 2027, reflecting Terns Pharmaceuticals’ operational stability and long-term planning.
In terms of clinical trials, Terns has made progress in its ongoing Phase 1 study of TERN-701, with interim findings suggesting the drug can be administered once daily with or without food.
This development, coupled with the forthcoming Phase 1 data for another of Terns’ drugs, TERN-601—an oral GLP-1 receptor agonist for obesity—expected next month, underscores the company’s commitment to innovative therapies.
These recent developments, from financial performance to executive appointments and clinical trials, highlight Terns Pharmaceuticals’ ongoing efforts to advance its strategic objectives and deliver on its mission. The company’s activities are closely watched by investors and industry analysts, including those from Mizuho Securities, who continue to support the company’s potential.
InvestingPro Insights
As Terns Pharmaceuticals (NASDAQ:TERN) navigates the complexities of its Phase 1/2 CARDINAL study, investors are keeping a keen eye on the company’s financial health and stock performance. According to InvestingPro, Terns holds more cash than debt, which is a positive signal for financial stability. Additionally, with five analysts revising their earnings upwards for the upcoming period, there is a sense of optimism about the company’s potential performance.
However, it’s important to note that Terns is not currently profitable and has been quickly burning through cash, which may raise concerns about long-term sustainability. The company’s P/E Ratio stands at -5.71, reflecting these profitability challenges. Despite these hurdles, Terns has managed a 1 Year Price Total Return of 45.42%, indicating some investor confidence in the company’s growth prospects. The anticipated fair value from analysts stands at 15 USD, while the InvestingPro Fair Value is calculated at 5.8 USD, highlighting a divergence in valuation perspectives.
For those looking for more in-depth analysis, additional InvestingPro Tips on Terns Pharmaceuticals can be found at https://www.investing.com/pro/TERN, offering a comprehensive look at the company’s financial details and stock performance.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.
Stock Markets
Macron discussed support for Ukraine and Gaza ceasefire with Germany’s Scholz
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PARIS (Reuters) – French President Emmanuel Macron discussed the importance of maintaining support for Ukraine and the need for a ceasefire in Gaza during talks on Friday with German Chancellor Olaf Scholz, said the French presidency.
Regarding Ukraine, the two leaders expressed their determination to support the country “for as long and as intensively as necessary” in its war against Russia, the Elysee said.
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