Whitestone REIT to Present at COVID-19 Webinar Hosted by Maxim Group on June 23, 2020 | Markets Insider

Whitestone REIT to Present at COVID-19 Webinar Hosted by Maxim Group on June 23, 2020 | Markets Insider

HOUSTON, June 22, 2020 (GLOBE NEWSWIRE) — Whitestone REIT’s (NYSE:WSR) (“Whitestone” or the “Company”) announced today that Company Chairman an… Dozens of local nonprofits have experienced a surge in demand for services, but fundraisers are halted and budget forecasts have been thrown off. U.S. stock market futures were little changed late Tuesday, following another record-high close for the Nasdaq. After rising and falling about 50 points… On Tuesday, Shares of Pfizer Inc. (NYSE:PFE), lost -1.42% to $34.01. Pfizer, declared that investigational antibody-drug conjugate (ADC) inotuzumab ozogamicin received Breakthrough Therapy designation from the U.S. Food and Drug Administration (FDA) for acute lymphoblastic […] Coding and financial literacy will now be required learning for elementary school students in Ontario.

HOUSTON, June 22, 2020 (GLOBE NEWSWIRE) — Whitestone REIT’s (NYSE:WSR) (“Whitestone” or the “Company”) announced today that Company Chairman and CEO Jim Mastandrea has been invited to present at The Impact of the COVID-19 Pandemic on Real Estate webinar, presented by Maxim Group and M-Vest on Tuesday June 23rd, 2020.

Whitestone will participate in a panel discussion on the impact of the COVID-19 pandemic on the strategy and operations of their company, answering questions such as: How long will it take to recover? Will the behavior of their customers post-pandemic be different? How might their business models have to change to accommodate different customer behavior?

To access the panel discussion, please RSVP at https://m-vest.com/insights/blog/covid-19-series-the-impact-on-real-estate?utm_source=Conference&utm_medium=press_release&utm_campaign=COVID19_REIT&utm_term=WSR&utm_content=General

Webinar Details:

  • Panel Session Title:  The Impact of the COVID-19 Pandemic on Real Estate
  • Date and Time:  Tuesday, June 23, 11:00 a.m. Eastern time (8:00 a.m. Pacific time)

Whitestone is a community-centered retail REIT that acquires, owns, manages, develops and redevelops high quality “e-commerce resistant” neighborhood, community and lifestyle retail centers principally located in the largest, fastest-growing and most affluent markets in the Sunbelt. Whitestone’s optimal mix of national, regional and local tenants provide daily necessities, needed services and entertainment to the communities in which they are located. Whitestone’s properties are primarily located in business-friendly Phoenix, Austin, Dallas-Fort Worth, Houston and San Antonio, which are among the fastest growing U.S. population centers with highly educated workforces, high household incomes and strong job growth. Visit www.whitestonereit.com for additional information.

Forward-Looking Statements

Certain statements contained in this press release constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the “Securities Act”) and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). The Company intends for all such forward-looking statements to be covered by the safe-harbor provisions for forward-looking statements contained in Section 27A of the Securities Act and Section 21E of the Exchange Act, as applicable. Such information is subject to certain risks and uncertainties, as well as known and unknown risks, which could cause actual results to differ materially from those projected or anticipated. Therefore, such statements are not intended to be a guarantee of our performance in future periods. Such forward-looking statements can generally be identified by the Company’s use of forward-looking terminology, such as “may,” “will,” “plan,” “expect,” “intend,” “anticipate,” “believe,” “continue,” “goals” or similar words or phrases that are predictions of future events or trends and which do not relate solely to historical matters.

The following are some of the factors that could cause the Company’s actual results and its expectations to differ materially from those described in the Company’s forward-looking statements: the Company’s ability to meet its long-term goals, its assumptions regarding its earnings guidance, including its ability to execute effectively its acquisition and disposition strategy, to continue to execute its development pipeline on schedule and at the expected costs, and its ability to grow its NOI as expected, which could be impacted by a number of factors, including, among other things, its ability to continue to renew leases or re-let space on attractive terms and to otherwise address its leasing rollover; its ability to successfully identify, finance and consummate suitable acquisitions, and the impact of such acquisitions, including financing developments, capitalization rates and internal rates of return; the Company’s ability to reduce or otherwise effectively manage its general and administrative expenses; the Company’s ability to fund from cash flows or otherwise distributions to its shareholders at current rates or at all; current adverse market and economic conditions; lease terminations or lease defaults; changes in the economies and other conditions of the specific markets in which the Company operates; economic, legislative and regulatory changes; the success of the Company’s real estate strategies and investment objectives; the Company’s ability to continue to qualify as a REIT under the Internal Revenue Code of 1986, as amended; and other factors detailed in the Company’s most recent Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and other documents the Company files with the Securities and Exchange Commission from time to time.

Contact Whitestone REIT:

Kevin Reed
Director of Investor Relations
(713) 435-2219

Markets Insider and Business Insider Editorial Teams were not involved in the creation of this post.

Source: markets.businessinsider.com

Author: finanzen.net GmbH

COVID-19 takes financial toll on nonprofits despite demand for services

COVID-19 takes financial toll on nonprofits despite demand for services


As the Island Girl Power enters into its 20th anniversary, the pandemic has halted celebrations. The nonprofit’s reputable thrift store paused operations and volunteer recruitment.

“A lot of our volunteers are wary of coming in, and even if we were to open the thrift stores, unlike retail stores, customers are more hesitant to buy second-hand items, so the volunteers have to sanitize the inventory,” said Juanita Blaz, the director of Island Girl Power.

Dozens of local nonprofits have experienced a surge in demand for services during the pandemic. But an economic recession halted fundraisers and disrupted budget forecasts.

During the pandemic, Island Girl Power has sustained its community garden initiative and distributed homemade face masks to the homeless and victims of house fires.

Finances have declined rapidly as the nonprofit services continue, and online monetary contributions trickled in slowly—a few hundred dollars in the past few months. With the thrift store closed, the organization stopped accepting donated goods for now.

“Nonprofits may have a budget less than a million dollars, but they are not considered a small business,” said Eddy Reyes, secretary of the umbrella group Payu-Ta Inc.  

In Guam’s CARES Act funding of $117 million, the Guam Economic Development Authority received $20 million, but nonprofits were not eligible.

More: GTA donates 10,000 masks to nonprofits, clinics

Payu-Ta Inc. anticipates a letter from GEDA specifying tax credits available to nonprofits, according to Reyes. 

Still, local nonprofits without government support rely on the generosity of individual donors.

In May, the American Red Cross canceled a golf tournament that traditionally brought in $20,000. The team still plans to hold the Red Ball, the largest fundraising event on Guam, which nets $300,000, though the exact format is unclear.

“We are optimistic but realistic that an economic downturn will impact our ability to raise funds,” said Chita Blaise, the chief executive officer of the American Red Cross.

“We feel for our donors, but we hope the community will help the American Red Cross because, without them, the chapter cannot provide critical support,” said Blaise. 

Without a benchmark for coronavirus-related services, the American Red Cross has provided disaster relief but increased safety measures to train volunteers.

“After the aftermath of a single home fire not too long ago, we provided our volunteers with cell phones to interview victims face to face and not by phone,” said Blaise.

In the 2019-2020 fiscal year, Blaise said the Red Cross received 1,189 calls. During the pandemic, inquiries about Armed Forces stationed on Guam surged. Families from abroad asked about loved ones deployed on the island.

“The Red Cross cannot say ‘I’m sorry, we cannot provide services to you because of this difficult time,’” said Blaise. “During the pandemic, we may be virtually working from home, but we are never closed.”

Since the declaration of emergency by the governor, 66 percent of surveyed nonprofits have operated at partial capacity and 20 percent stopped operations, according to a survey Payu-Ta sent to 25 groups.

Eighty percent of the surveyors noted a moderate to severe level of financial impact. Nearly 15 percent furloughed workers.

At least half of the nonprofits responded that they felt severe impacts to constituents, and another half experienced moderate impact to their missions.

For Make-A-Wish Foundation, which grants wishes to children with chronic illnesses, the traditional one wish per month excludes travel requests or events with large gatherings.

“We still grant wishes, but because of the coronavirus, we take directives from our national office regarding the types of wishes we can grant,” said Kaleena Camacho, the programs manager of the Guam and CNMI chapter. 

More: U.S. report outlines serious economic repercussions for FSM, Palau and Marshall Islands

After the coronavirus started, the foundation granted seven iPhone 11s to the family of 13-year-old Tawnya Tyquiengo, who is receiving cancer treatment in Los Angeles and wanted to communicate with her brothers and siblings on Guam.

Another grantee obtained an iPhone 11 Pro Max courtesy of GTA Guam nearly two weeks ago.

Despite the granting of wishes, the Make-A-Wish postponed and canceled fundraisers on Guam and in Saipan. Plans for the Black Ties and Tennies annual gala, the largest fundraiser event for the foundation, were canceled.

The fundraising team postponed indefinitely Bow Ties for Wishes, a silent auction and cocktail party, and moved the Trail Wish Challenge, an outdoor running event, into a virtual format.

With no foreseeable income, the operational budget of $330K has seen a revenue loss of $148K since the pandemic, nearly half of the original budget, according to Camacho’s estimates.

According to the Payu-Ta survey, for nearly 80 percent of the nonprofits, the projected length of recovery time varies between four to eight months. At least half of the surveyors applied for the Payroll Protection Program or needed loan assistance.

Formerly known as the Big Brothers Big Sisters, Mañelu has received $151K in funding through the Coronavirus Aid, Relief, and Economic Security Act (CARES) Act provided by the United States Department of Interior. The funding comes from a different source than the GEDA requirement that prevents nonprofits from acquiring funding. 

Since the pandemic, the organization translated pandemic relief forms to migrants from the Federated States of Micronesia through the Micronesian Resource Center One-Stop Shop.

“We get a majority of calls from people asking how they can apply for new and existing public assistance,” said Samantha Taitano, executive director of Mañelu. 

Other callers ask about the Department of Labor unemployment assistance and ways to fill out the Department of Revenue & Taxation non-filer forms.

“Our case reviewers were even getting messages on their Facebook accounts looking for information, and the demand has at least doubled,” said Taitano.

The office welcomed 96 visits between May 11 through 22 despite limited office hours and social distancing restrictions. The newly launched Virtual Village meetings series, aimed at navigating the Micronesian experience during the pandemic, reached 6,000 people in three days.

More: Adelup: Ongoing procurement for homeless shelters

“As we start to understand more over the next few months how the pandemic will affect us, reaching out to our Pacific island brothers and sisters is crucial,” said Sarah Thomas-Nededog, vice chair of Payu-Ta.

Going forward, the Payu-Ta leadership suggested creating new strategies to adapt to the pandemic and reevaluate client demands.

“The financial support from our community is going to be adversely affected, but the need for us to stay close to our grassroots and our most vulnerable populations are going to need a greater source of support and advocates,” Thomas-Nededog said.

Read or Share this story: https://www.guampdn.com/story/news/local/2020/06/23/coronavirus-pandemic-guam-economy-aid-local-nonprofits-services/3239832001/

Source: www.guampdn.com

Author: Anne Wen, For Pacific Daily News USA TODAY Network

U.S. stock futures flat after another day of gains on Wall Street

U.S. stock futures flat after another day of gains on Wall Street

Source: www.marketwatch.com

Author: Mike Murphy

Active Stocks in Review: Pfizer Inc. (NYSE:PFE), MGIC Investment Corp. (NYSE:MTG), Paypal Holdings Inc (NASDAQ:PYPL)

Active Stocks in Review: Pfizer Inc. (NYSE:PFE), MGIC Investment Corp. (NYSE:MTG), Paypal Holdings Inc (NASDAQ:PYPL)

On Tuesday, Shares of Pfizer Inc. (NYSE:PFE), lost -1.42% to $34.01.

Pfizer, declared that investigational antibody-drug conjugate (ADC) inotuzumab ozogamicin received Breakthrough Therapy designation from the U.S. Food and Drug Administration (FDA) for acute lymphoblastic leukemia (ALL).

The Breakthrough Therapy designation was based on the results of the Phase 3 INO-VATE ALL trial, which enrolled 326 adult patients with relapsed or refractory CD22-positive ALL and contrast inotuzumab ozogamicin to standard of care chemotherapy. Topline results from the trial were declared in April 2015 and also presented at the 20th Congress of the European Hematology Association (EHA).

“Inotuzumab ozogamicin is the third Pfizer oncology medicine to be granted Breakthrough Therapy designation by the FDA, underscoring our commitment to innovative research and development that addresses noteworthyunmet needs. Breakthrough Therapy designation will allow us to work more closely with the FDA to bring this important therapy to patients as rapidly as possible,” said Dr. Mace Rothenberg, senior vice president of Clinical Development and Medical Affairs and chief medical officer for Pfizer Oncology. “Advancing therapies for patients with adult acute lymphoblastic leukemia is crucial as only 10 percent of adults with ALL who relapse after first-line therapy survive five years or more with current treatment options.”

Pfizer Inc., a biopharmaceutical company, discovers, develops, manufactures, and sells healthcare products worldwide. The company operates through Global Innovative Pharmaceutical (GIP); Global Vaccines, Oncology and Consumer Healthcare (VOC); and Global Established Pharmaceutical (GEP) segments.

Shares of MGIC Investment Corp. (NYSE:MTG), declined -4.76% to $9.41, during its last trading session.

MGIC Investment Corporation, stated operating and financial results for the quarter ended September 30, 2015.

Net income for the quarter ended September 30, 2015 was $822.9 million, or $1.78 per diluted share, counting $698.1 million regardingthe reversal of the Companys deferred tax asset valuation allowance. Not Taking Into Account the impact of the deferred tax asset valuation allowance reversal, adjusted net income for the quarter ended September 30, 2015, would have been $124.7 million, or $0.29 per diluted share, contrast with net income of $72.0 million, or $0.18 per diluted share, for the same quarter a year ago.

The valuation allowance related to deferred tax assets was reversed based on the evaluation of the ability to ultimately utilize those assets. The reversal of the valuation allowance raised book value per share by $2.23 in the third quarter.

MGIC Investment Corporation, through its auxiliaries, provides private mortgage insurance and ancillary services to lenders and government sponsored entities in the United States. The company offers primary mortgage insurance that provides mortgage default protection on individual loans, in addition to covers unpaid loan principal, delinquent interest, and various expenses associated with the default and subsequent foreclosure; and pool insurance coverage, which covers the excess of the loss on a defaulted mortgage loan that exceeds the claim payment under the primary coverage.

Finally, Shares of Paypal Holdings Inc (NASDAQ:PYPL), ended its last trade with 0.09% gain, and closed at $34.87.

DMARC.org is an initiative of the Trusted Domain Project (TDP), a non-profit and tax-exempt public benefit corporation, and is supported by the following sponsors: Agari, Comcast (CMCSA), Farsight Security, Google (GOOG), PayPal (PYPL), and ReturnPath.

The Domain-based Message Authentication, Reporting, & Conformance (DMARC) specification has proven its value in combating fraudulent email since its introduction three and a half years ago. Thousands of companies use it to prevent billions of messages from fraudulently using their Internet domains to reach inboxes, thereby protecting their customers and employees from phishing and other abuse. And now two of the largest mailbox providers in the world Google (GOOG) and Yahoo (YHOO) have declared that they are extending that protection to cover more of their Internet domains.

PayPal Holdings, Inc. operates as a technology platform company that enables digital and mobile payments on behalf of consumers and merchants worldwide. It enables businesses of various sizes to accept payments from merchant Websites, mobile devices, and applications, in addition to at offline retail locations through a range of payment solutions across company’s payments platform, counting PayPal, PayPal Credit, Venmo, and Braintree products.


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Ontario schools will now teach first graders financial literacy and coding to better prepare students for jobs of the future

Ontario schools will now teach first graders financial literacy and coding to better prepare students for jobs of the future

(CNN)Coding and financial literacy will now be required learning for elementary school students in Ontario.

The new curriculum, announced by the Ontario government on Tuesday, was created with help from parents, math educators, academics and math education experts over the course of two years.

It is “designed to reverse a decade of declining math scores,” according to a statement issued by the government. It will go into effect this September, for grades 1-8.

    “I made a promise to parents that we would fix the broken education system we inherited, get back to basics, and teach our children the math fundamentals they need for lifelong success,” said Premier Doug Ford, Ontario’s head of government, in a statement.

    The Canadian province’s math curriculum was last updated in 2005. By including skills like coding and financial literacy, it will promote “critical skills that will help our students prepare for and succeed in the modern world and in the modern workforce,” Ford said.

    The specifics of the plan have already been outlined. By the end of Grade 1, students will know the basics of coding and financial literacy — things like how to read and alter coding and the value of the Canadian currency.

    The new curriculum will also focus on connecting math to everyday life and focus on math concepts and skills like learning and recalling number facts, according to the statement.

    The roll out is part of a new four-year CA$200-million math plan, announced in 2019. In addition to an upgraded curriculum, the new plan will give funding to school board to hire math-learning leads, expand online tutoring programs and deliver CA$6 million in support for summer learning programs.

      In data that analyzed math assessment scores of 15-year-olds from 2012, Canada is in the top 10. Korea, Japan, Switzerland, Netherlands and Estonia make up the top five, according to the National Science Foundation.

      Meanwhile the US was ranked as 27th, falling below average.

      Source: www.cnn.com

      Author: Leah Asmelash, CNN

      Whitestone REIT to Present at COVID-19 Webinar Hosted by Maxim Group on June 23, 2020 | Markets Insider

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