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Weekly Commodities ETF Report: Crude Lower After US Stockpiles Surge, Trade Tensions Dent Global Outlook; Gold Posts Sixth Weekly Loss as Uncertainty Sends US Dollar Higher

(MT Newswires) – – Crude ended Friday’s session higher but marked a loss on the week that saw a bigger-than-expected rise in US stockpiles of the key commodity in Wednesday’s data, raising concerns about supplies even as investors looked ahead to the resumption of trade talks between the US and China that could cool geopolitical tensions. But the US-China trade dispute has weighed on sentiment amid concerns about slower growth and demand in the world’s second-biggest economy. Underpinning the weakness is the prospect of more sanctions on Iran after the US hit the country with a round of penalties recently. And new protests by workers at Libya’s Zawiya oil export terminal are threatening again to hinder production at a time when crude output from the North African nation is at a two-month high of over one million barrels a day, according to a report from S&P Global Platts. Back in the US, Baker Hughes (BHGE) reported that the active rig count was unchanged week on week at 869, a level that’s the highest since early March 2015. With the gas rig tally also flat, the US count overall was at 1,057. A year ago, the oil count was at 763 and the overall US tally was at 946.

Over the last five days, light, sweet crude oil for September delivery fell 2.80% and settled at $65.91 per barrel. In other energy futures, gasoline declined during the week, down 3% and settled at $1.98 per gallon at the close of Friday’s session. Meanwhile, natural gas rose 0.4% this week and was up in Friday’s session at $2.95 per 1 million British thermal unit.

The SummerHaven Dynamic Commodity Index Total Return Index (SDCITR) fell 0.04% this week, from a drop of 0.27% in the previous week.

Gold rose 0.6% on Friday to $1,184, but ended the week down 2.3% — the sixth straight weekly decline as the rallying US dollar has made prices for the precious metal more expensive for buyers using other currencies. The dollar has jumped and earned status among investors as a haven in turbulent times over gold as Turkey’s financial crisis sent its lira currency spiraling and spread worries that the upheaval could extend into other emerging markets.

Copper ended Friday’s session higher at $2.68 but closed with a weekly loss of about 3% after it entered a bear market at midweek, according to CNBC. The strength in the US dollar was hitting that commodity too, along with worries about how the global trade wars could impact international growth. Prices seemed to take little comfort from reports that a strike at the giant Escondida mine in Chile might be averted when managers at the world’s biggest copper mine, run by BHP Billiton, said they had reached a deal with union officials, according to Reuters.

Agriculture commodities ended the week on a mixed note. Sugar had a weekly decline of 3.23% and settled at a price of $0.102 on Friday as India ramps up production of the sweetener. Coffee was at $1.047 per pound at Friday’s close, with a weekly decrease of 5%; and cocoa rose 1.2% in the week and closed Friday’s session at $2,149 as Bloomberg reported on an outbreak of caterpillars in part of Ghana, the world’s second-biggest cocoa producer. Among grains, corn was up 2.1% in the week and settled at $3.79 per bushel Friday; and wheat rose 1.8% for the week to end at $5.79 per bushel by Friday’s close. Meanwhile, soybeans jumped 4.3% for the week, closing at $8.98 per bushel on Friday amid optimism about the restart of US-China trade talks, although S&P Global Platts said Chinese buyers can’t benefit from the renewed talks until the market starts pricing in a better trade relationship that would allow US soybeans to again be competitive in the Chinese market. US soybeans have been subject to Chinese tariffs in a retaliatory move taken by the Asian nation.

The SummerHaven Dynamic Agriculture Index Total Return Index (SDAITR) rose 1.68% for the week, compared with a fall of 2.74% in the prior week.

 

Copyright © 2018 MT Newswires, www.mtnewswires.com.

Information Contact: Justin Hillstrom – 720.917.0770 Email: Justin.hillstrom@alpsinc.com, Website is www.uscfinvestments.com

Investing involves risks, including loss of principal.

Commodity ETP Disclosures:  Download a copy of a Fund’s Prospectus by clicking one of the following:
USCIUSAGUSOUSLUSOUDNOUSODBNOUNGUNL, UGAUHN, or CPER  

Please read any Prospectus carefully before investing.

These Funds are not mutual funds or any other type of Investment Company within the meaning of the Investment Company Act of 1940, as amended, and are not subject to regulation thereunder.

Commodity trading is highly speculative and involves a high degree of risk. Commodities and futures generally are volatile and are not suitable for all investors. Investing in commodity interests subject each Fund to the risks of its related industry. An investor may lose all or substantially all of an investment. These risks could result in large fluctuations in the price of a particular Fund’s respective shares. Funds that focus on a single sector generally experience greater volatility. Leveraged and inverse exchange-traded products pursue daily leveraged investment objectives which means they are riskier than alternatives which do not use leverage. They are not suitable for all investors and should be utilized only by investors who understand leverage risk and who actively manage their investments. For further discussion of these and additional risks associated with an investment in the Funds please read the respective Fund Prospectus before investing.

Please read the Prospectus carefully before investing.

Performance is historical and does not guarantee future results; current performance may be lower or higher. Investment returns/principal value will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Most recent performance is available at www.uscfinvestments.com.

Past performance does not guarantee future results.

This information is intended for U.S. residents.

Funds distributed by ALPS Distributors, Inc. 

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Deere Reports Higher Fiscal Third Quarter Results But Earnings Miss Street as Costs Rise

10:43 AM, Aug 17, 2018 — Deere & Company (DE) reported higher results for the fiscal third quarter but earnings missed expectations as the equipment maker said it’s facing rising costs for raw materials.

Earnings after adjustments came in at $2.59 a share, beneath the consensus on Capital IQ for $2.75 a share. A year ago, net income was $1.97. Net sales rose 36% to about $9.3 billion, topping the consensus on Capital IQ for $9.2 billion, while the cost of sales was also up, hitting $7.15 billion from $5.25 billion a year earlier, the company said on Friday.

“Farm machinery sales in North America and Europe made solid gains, while construction equipment sales move sharply higher and received significant support from our Wirtgen road-building unit,” said Deere’s chief executive, Samuel Allen. “At the same time, we have continued to face cost pressures for raw materials and freight, which are being addressed through a combination of cost management and pricing actions.”

Equipment makers have been facing higher input costs in the wake of the trade dispute that has seen the US hit global partners like China, Mexico and Canada with increased tariffs on imports including metals.

Still, Allen said Deere is “well-positioned to capitalize on growth in the world’s agricultural and construction equipment markets.”

The company is projecting equipment sales increasing about 30% for fiscal 2018 and 21% in the fourth quarter, with Wirtgen adding about 12% to Deere’s sales for both periods. Adjusted net income attributable to Deere is seen at $3.1 billion for the year.

“Replacement demand for large agricultural equipment is driving sales even in the face of tensions over global trade and other geopolitical issues,” Allen said. “We’re confident Deere is on track to continue its strong performance.”

Companies: Deere & Company
Price: 138.95 Price Change: +1.60 Percent Change: +1.16

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McDonald’s US Restaurants to Get $6 Billion in Renovation Spending

1:54 PM, Aug 14, 2018 — McDonald’s (MCD) is poised to spend $6 billion to renovate most US restaurants by 2020, adding more self-ordering kiosks and sprucing up the decor to continue attracting consumers to the fast-food company.

The modernization plans include “dining rooms with globally and locally inspired decor, new furniture and refreshed exterior designs,” the company said in a statement Tuesday. The spending will be done by McDonald’s and franchisees of the chain, it said.

The blue-chip company will remodel its counters for new table service, expand displays in its McCafe section, bring easier-to-read signs at the drive through and add designated parking spots for pick-ups made after diners make mobile orders.

The Big Mac maker has been adding more options to its menu in recent years in a bid to attract more people and get consumers to spend more. In its second-quarter earnings report released late last month, McDonald’s said US comparable store sales rose 2.6% on growth in the average check thanks to product mix shifts and price increases.

McDonald’s said the biggest spend among the states will come in Texas, with $448 million for 840 restaurants. California will see $390 million in renovations for 550 restaurants, while New York will get $320 million for 360 sites.

Companies: McDonald’s Corporation
Price: 160.88 Price Change: +2.74 Percent Change: +1.73

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Weekly Commodities ETF Report: Crude Lower as US Sanctions Vs Iran Expected to Tighten Supply; Gold Weakens Amid Turkey’s Currency Woes

(MT Newswires) – Crude ended Friday’s session higher, even as concerns that the trade dispute between the US and China could eventually hit global growth, although crude is not on the Chinese retaliatory list yet. Meanwhile, the US has implemented sanctions against Iran, which is expected to tighten supply from one of the biggest oil producers in the world. Analysts expect Iranian crude exports to fall by between 500,000 and 1.3 million barrels per day, with buyers in Japan, South Korea and India already dialing back orders, a report from Reuters said. The International Energy Agency also warned that the full re-imposition of sanctions by November would put more pressure on the Organization of the Petroleum Exporting Countries (OPEC) exports, creating a bullish set-up for oil prices. And, Baker Hughes (BHGE) reported that the active US rig count rose by 10 to 869, the largest gain since May. Including gas, the US rig count was higher by 13 in the week to 1,057. A year ago, the oil count was at 768 and the overall US tally was at 949.

Over the last five days, light, sweet crude oil for September delivery edged 1.41% lower and closed at $67.63 per barrel. In other energy futures, gasoline fell during the week, down 1.41% and settled at $2.04 per gallon at the close of Friday’s session. Meanwhile, natural gas rose 3.19% this week and was down in Friday’s session at $2.94 per 1 million British thermal unit.

The SummerHaven Dynamic Commodity Index Total Return Index (SDCITR) fell 0.27% this week, from a decline of 1.18% in the previous week.

Gold ended the Friday session lower, settling at $1,219 and ended the week lower, down 0.20% — the fifth weekly decline — as Turkey’s plummeting lira sent shockwaves across the financial community. The Turkish lira tumbled to a new low against the dollar amid a deepening rift with the US and intensifying worries about the state of the economy and domestic inflation. President Recep Tayyip Erdogan, in an attempt to soothe financial markets, instead delivered a heavily nationalistic speech that only inflamed risk aversion. Back home, the US has decided to increase tariffs on Turkish steel and aluminum, because they may threaten national security, a White House spokesperson said. The Trump administration said it was doubling the tariff on imports of Turkish steel and aluminum to 50% and 20%, respectively.  On the other hand, copper ended Friday’s session lower at $2.74 and closed the week down 0.36% after China announced a 25% tariff on US copper imports, which prompted several Chinese copper fabricators and importers to divert or resell their cargoes of US copper scraps that were en route to China, according to a report on Reuters. The new taxes will be imposed on cargoes arriving in China starting Aug. 23. The average cargo of scrap copper sent to China from the US is approximately 20 tonnes, the report added. With only two weeks to go before the tariffs are imposed, there are concerns over possible trade disruptions, with recyclers scrambling to look for alternative destinations for their cargoes to avoid paying the new duties.

Agriculture commodities ended the week mostly lower following the release of the US Department Agriculture’s World Agricultural Supply and Demand Estimates report. The production outlook for corn, soybeans, sugar and cotton in 2018/19 was raised, while for wheat, the production estimate was  lowered.  Sugar had a weekly decline of 2.58% and settled at a price of $0.11 on Friday; coffee was at $1.07 per pound at Friday’s close, with a weekly decrease of 0.60%; and cocoa edged 0.14% higher for the week and closed Friday’s session at $2,118.  Among grains, corn was down 3.38% in the week and settled at $3.71 per bushel in Friday’s session; and wheat fell 2.28% for the week and settled at $5.69 per bushel at the end of Friday’s session. Meanwhile, soybeans fell 4.78% for the week, closing at $8.62 per bushel on Friday. Developments from the US-China trade war continue to affect the soybean trade. US-sourced soybeans have lost competitiveness in the market after China imposed a 25% tax on US soybeans in July; this has provided the opportunity for other countries to increase their exports to China, i.e. Canada, which is expected to increase its soybean exports to China, according to a report on S&P Global. Canada exports about 5.5 million mt of soybeans; traders now expect that 80% of this will be exported to China in 2018/19, the report said. Canadian soybeans are also cheaper than soybeans sourced from Brazil, the report added. The SummerHaven Dynamic Agriculture Index Total Return Index (SDAITR) fell 2.74% for the week, compared with an increase of 0.15% in the prior week.

 

Copyright © 2018 MT Newswires, www.mtnewswires.com.

Information Contact: Justin Hillstrom – 720.917.0770 Email: Justin.hillstrom@alpsinc.com, Website is www.uscfinvestments.com

Investing involves risks, including loss of principal.

Commodity ETP Disclosures:  Download a copy of a Fund’s Prospectus by clicking one of the following:
USCIUSAGUSOUSLUSOUDNOUSODBNOUNGUNL, UGAUHN, or CPER  

Please read any Prospectus carefully before investing.

These Funds are not mutual funds or any other type of Investment Company within the meaning of the Investment Company Act of 1940, as amended, and are not subject to regulation thereunder.

Commodity trading is highly speculative and involves a high degree of risk. Commodities and futures generally are volatile and are not suitable for all investors. Investing in commodity interests subject each Fund to the risks of its related industry. An investor may lose all or substantially all of an investment. These risks could result in large fluctuations in the price of a particular Fund’s respective shares. Funds that focus on a single sector generally experience greater volatility. Leveraged and inverse exchange-traded products pursue daily leveraged investment objectives which means they are riskier than alternatives which do not use leverage. They are not suitable for all investors and should be utilized only by investors who understand leverage risk and who actively manage their investments. For further discussion of these and additional risks associated with an investment in the Funds please read the respective Fund Prospectus before investing.

Please read the Prospectus carefully before investing.

Performance is historical and does not guarantee future results; current performance may be lower or higher. Investment returns/principal value will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Most recent performance is available at www.uscfinvestments.com.

Past performance does not guarantee future results.

This information is intended for U.S. residents.

Funds distributed by ALPS Distributors, Inc. 

 

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Party City Plans Amazon Sales With Halloween Season as Earnings, Revenue Just Beat Views

11:28 AM, Aug 9, 2018 — Party City (PRTY) will start selling some of its products on e-commerce giant Amazon.com (AMZN), extending online sales from its own website while also reporting slightly better-than-expected results for the second quarter.

The Elmsford, New York-based decorations company said it will start the pilot program before this year’s Halloween season and will “initially offer a curated product assortment focused largely on the costume category.” Party City is poised to expand the products to include Christmas and New Year’s, and will possibly grow the offerings further in 2019.

“The Amazon pilot we are launching will complement PartyCity.com’s category leading capabilities and serve to advance our overarching strategy of having Party City products available to consumers wherever they choose to shop,” said James Harrison, the company’s chief executive officer.

In a separate release, Party City said second-quarter revenue rose 3% on a reported basis and 2.3% in constant currency to $561 million. Adjusted diluted income jumped to $0.40 a share from $0.28. That was a penny better than the consensus on Capital IQ, while revenue was about in line with Wall Street’s views.

“As we enter the third quarter, we continue to make good progress on our strategic growth initiatives and are well-positioned for the upcoming Halloween selling season,” Harrison said.

Party City maintained its outlook for the full year, projecting total revenue of $2.44 billion to $2.49 billion and adjusted diluted EPS of $1.76 to $1.87. The Street’s view is for $1.84 in earnings and revenue of $2.48 billion.

Companies: Party City Holdco Inc.
Price: 16.33 Price Change: +0.58 Percent Change: +3.65

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Mylan Plans Strategic Review While Quarterly Results Miss Expectations and 2018 Outlook Cut

12:48 PM, Aug 8, 2018 — Mylan (MYL) reported a wide miss in quarterly earnings and revenue as the maker of the EpiPen auto injector started a strategic review to evaluate a “wide range of alternatives” and unlock value in the company.

Second quarter revenue fell 5% to $2.81 billion, missing the consensus on Capital IQ for $2.95 billion. North American segment sales dragged on the outcome, falling 22% year on year while Europe and the rest of the world rose. Adjusted diluted earnings fell to $1.07 a share from $1.10, and that was also beneath Wall Street estimates, for $1.22.

“Our efforts to serve patients in the US have been shaped by the industry’s transformation there, and our results and guidance for 2018 are directly correlated with the ongoing rebasing of the US healthcare environment,” Heather Bresch, Mylan’s chief executive, said in a statement Wednesday.

The pharmaceutical firm cut its outlook for full-year revenue to $11.25 billion to $12.25 billion from a previous projection of $11.75 billion to $13.25 billion. Mylan is now pegging EPS at $4.55 to $4.90, while earlier the target range was $5.20 to $5.60.

In a separate statement, Mylan’s board said its international business represents more than 60% of global sales and expectations for further growth “are in contrast to the negative trends and dynamics playing out in the US market place — which we believe are unsustainable for the healthcare system over the long-term.”

“While we will continue to execute on our best-in-class, long-term focused sustainable strategy, the board has formed a strategic review committee and is actively evaluating a wide range of alternatives to unlock the true value of our one-of-a-kind platform,” the board said.

It didn’t give any more details on the review, and said there’s no timeline for evaluating any alternatives or even whether anything will be implemented.

Companies: Mylan N.V.
Price: 37.43 Price Change: -1.11 Percent Change: -2.88

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Weekly Commodities ETF Report: Fresh US-China Trade Tensions Weigh on Copper, Agriculture Commodities; Crude Struggles With Supply Issues

(MT Newswires) – Trade tensions between the US and China flared up once again following the Trump administration’s announcement this week that it plans to double tariffs on a range of Chinese imports worth about $200 billion; Beijing retaliated with its own tariffs of about $60 billion to be imposed on US goods being imported into China. The tit-for-tat trade moves between the two countries have exacerbated fears for a trade war, with industrial metals such as copper and agricultural commodities like soybeans and wheat among the most heavily affected.

Crude edged lower for the week, ending Friday’s session in the red amid renewed concerns about excess supply in the market, after data showed oil output in Russia to have increased sharply in July. Russian oil output rose by 150,000 barrels per day in July from a month earlier, surpassing the amount Moscow had said it would add following a key Vienna meeting in June. Meanwhile, Saudi Arabia has cut the September official selling prices for all its grades to meet customer demand. And, back home, Baker Hughes (BHGE) reported that the active US rig count dropped by two to 859 rigs in the week. Last week, Baker Hughes said, three rigs were added in the US, taking the total rig count in the country to 861.

Over the last five days, light, sweet crude oil for September delivery edged 0.64% lower and closed at $68.49 per barrel. In other energy futures, gasoline fell during the week, down 2.40% and settled at $2.07 per gallon at the close of Friday’s session. Meanwhile, natural gas rose 2.19% this week and was up in Friday’s session at $2.85 per 1 million British thermal unit.

The SummerHaven Dynamic Commodity Index Total Return Index (SDCITR) fell 1.18% this week, from an increase of 1.25% in the previous week.

Gold ended the Friday session higher, settling at $1,223.20 as this week’s tepid jobs data has helped the yellow metal log some modest gains. July nonfarm payrolls increased 157,000, missing the 190,000 consensus, but the prior months’ gains were revised to 248,000 from 213,000. The unemployment rate ticked down to 3.9% from 4.0%, as expected. For the week, however, gold fell 0.87% — the fourth weekly decline — on the back of the continued strength of the US dollar and as the US Federal Reserve’s reiterated its decision to implement interest rate hikes in September and December this year. Earlier in the week, gold had sunk to its lowest level in nearly 17 months. On the other hand, copper ended Friday’s session higher at $2.76 but closed the week down 1.59%, as traders continued to fret over the impact of the US-China trade war on industrial metals. Also, workers at BHP Billiton’s (BHP) Escondida mine in Chile voted to go on strike after union workers rejected the company’s final wage offer. The union had earlier given BHP until Aug. 6 to improve its contract offer. Escondida is the world’s largest copper mine, and Chile is the top copper producer. Last year, workers at the mine staged a 44-day walk out over contract disputes, which also affected global copper markets. BHP is now reportedly looking at contingency plans ahead of the strike.

Agriculture commodities ended the week mixed, mostly weighed by trade war worries. Sugar had a weekly decline of 0.37% and settled at a price of $0.11 on Friday; coffee was at $1.08 per pound at Friday’s close, with a weekly decrease of 2.54%; and cocoa sank 8.28% lower for the week and closed Friday’s session at $2,046.  Among grains, corn was up 2.26% in the week and settled at $3.84 per bushel in Friday’s session; and soybeans rose 2.12% for the week, closing at $9.02 per bushel on Friday. Meanwhile wheat rose 5.96% for the week and settled at $5.80 per bushel at the end of Friday’s session following reports late Thursday that Ukraine might impose export limits for wheat; however, the post on social media platform Facebook by the Ukrainian deputy agriculture minister was misinterpreted as a total export ban when in fact, the announcement was for the country’s annual non-binding quota on wheat exports. Ukraine sets an annual export quota and gives guideline figures on volumes that are allowed to be exported each marketing year.

The SummerHaven Dynamic Agriculture Index Total Return Index (SDAITR) rose 0.15% for the week, compared with an increase of 0.25% in the prior week.

Copyright © 2018 MT Newswires, www.mtnewswires.com.

Information Contact: Justin Hillstrom – 720.917.0770 Email: Justin.hillstrom@alpsinc.com, Website is www.uscfinvestments.com

Investing involves risks, including loss of principal.

Commodity ETP Disclosures:  Download a copy of a Fund’s Prospectus by clicking one of the following:
USCIUSAGUSOUSLUSOUDNOUSODBNOUNGUNL, UGAUHN, or CPER

Please read any Prospectus carefully before investing.

These Funds are not mutual funds or any other type of Investment Company within the meaning of the Investment Company Act of 1940, as amended, and are not subject to regulation thereunder.

Commodity trading is highly speculative and involves a high degree of risk. Commodities and futures generally are volatile and are not suitable for all investors. Investing in commodity interests subject each Fund to the risks of its related industry. An investor may lose all or substantially all of an investment. These risks could result in large fluctuations in the price of a particular Fund’s respective shares. Funds that focus on a single sector generally experience greater volatility. Leveraged and inverse exchange-traded products pursue daily leveraged investment objectives which means they are riskier than alternatives which do not use leverage. They are not suitable for all investors and should be utilized only by investors who understand leverage risk and who actively manage their investments. For further discussion of these and additional risks associated with an investment in the Funds please read the respective Fund Prospectus before investing.

Please read the Prospectus carefully before investing.

Performance is historical and does not guarantee future results; current performance may be lower or higher. Investment returns/principal value will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Most recent performance is available at www.uscfinvestments.com.

Past performance does not guarantee future results.

This information is intended for U.S. residents.

Funds distributed by ALPS Distributors, Inc. 

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Cisco Systems Plans to Acquire Access Security Company Duo For $2.35 Billion in Cash, Assumed Equity

10:10 AM, Aug 2, 2018 — Cisco Systems (CSCO) plans to acquire closely held Duo Security, a provider of access security and multi-factor authentication.

Duo’s zero-trust authentication and access products will allow Cisco users to connect users to any application on networked devices, the companies said. Cisco will pay $2.35 billion in cash and assumed equity for Duo’s outstanding shares, warrants and equity incentives on a fully diluted basis.

“Duo’s zero-trust authentication and access products integrated with our network, device and cloud security platforms will enable our customers to address the complexity and challenges that stem from multi- and hybrid-cloud environments,” said David Goeckeler, the executive vice president and general manager of Cisco’s networking and security business.

Cisco already provides on-premise network access control through its identity services engine (ISE) product. Duo’s software as a service-based model will be integrated with Cisco’s ISE to provide cloud-delivered application access control and simplify policy for cloud security by verifying users and devices, Cisco said in a statement on Wednesday.

“By verifying user and device trust, Duo will add trusted identity awareness into Cisco’s Secure Internet Gateway, Cloud Access Security Broker, Enterprise Mobility Management and several other cloud-delivered products,” the statement said.

The acquisition also expands endpoint visibility coverage. More than 180 million managed devices will be augmented by Duo’s broad visibility of mobile and unmanaged devices, Cisco said.

“Cisco created the modern IT infrastructure, and together we will rapidly accelerate our mission of securing access for all users, with any device, connecting to any application, on any network,” Duo CEO Dug Song said. “By joining forces with the world’s largest networking and enterprise security company, we have a unique opportunity to drive change at a massive scale, and reshape the industry.”

The acquisition is expected to close in the first quarter of Cisco’s fiscal year 2019 and is subject to customary closing conditions and required regulatory approvals. Duo Security will continue to be led by Song and will join Cisco’s networking and security business led by Goeckeler.

Companies: Cisco Systems, Inc.
Price: 41.42 Price Change: -0.44 Percent Change: -1.05

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Helios and Matheson Raises MoviePass Prices and Cuts Ticket Availability for Blockbusters

10:59 AM, Jul 31, 2018 — Helios and Matheson Analytics (HMNY) said it was raising the prices of its MoviePass subscription service as the company looks to reduce its cash burn and stem a slide in its stock.

The price for a standard subscription will be raised to $14.95 per month at some point in the next 30 days, the company said in a statement Tuesday. That’s up from $9.95 currently.

Helios is also shifting the focus of MoviePass toward promoting independent films, making first-run movies opening on more than 1,000 screens limited in availability in the first two weeks unless there’s a promotion. The recent release of “Mission: Impossible — Fallout” was the first blockbuster that had a limited ticket availability, Helios said.

“These changes are meant to protect the longevity of our company and prevent abuse of the service,” said MoviePass Chief Executive Mitch Lowe. “While no one likes change, these are essential steps to continue providing the most attractive subscription service in the industry.”

Helio & Matheson shares have plunged since worries about the company’s cash burn emerged this year. The company enacted a reverse stock split earlier this month but the shares plunged further after a MoviePass service interruption that Helios said was due to its inability to pay some suppliers. It borrowed $5 million to resolve bills.

Helios CEO Ted Farnsworth said the measures will reduce cash burn by 60% and generate lower future funding needs. The company is also integrating MoviePass Ventures and MoviePass Films with original content to gain revenue by owning the films through the box office, streaming, retail, international rights and transactional sales with companies like Apple (AAPL) and Samsung.

“Major studios will continue to be able to partner with MoviePass to promote their first run films, seeding them with a valuable moviegoing audience,” Helios said.

Companies: Helios and Matheson Analytics Inc
Price: 0.90 Price Change: +0.10 Percent Change: +12.47

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Weekly Commodities ETF Report: Crude Edges Higher, Gold Slips Lower as Crude Oversupply Worries, Trade Tensions Ease

(MT Newswires) – Crude inched higher for the week, despite ending Friday’s session lower, as oversupply worries plaguing the markets eased somewhat following reports from the Energy Information Administration (EIA) indicating a larger-than-expected drop in US inventories. The EIA said Wednesday crude oil inventories dropped by more than 6.1 million barrels to 404.9 million barrels in the week ended July 20. Traders, however, remain cautious following reports Russia will up crude output by around 250,000 barrels a day. Also, the number of oil rigs operating in the US rose by three to 861, according to data from energy services firm Baker Hughes (BHGE), which tracked the seven-day period ending July 27. The combined oil and gas rig count in the US rose by two to 1,048, as gas rigs decreased by one to 186.

Over the last five days, light, sweet crude oil for September delivery was edged 0.98% higher and closed at $68.69 per barrel. In other energy futures, gasoline rose during the week, up 4.06% and settled at $2.11 per gallon at Friday’s close. Meanwhile, natural gas rose 1.79% this week and was up in Friday’s session at $2.78 per 1 million British thermal unit.

The SummerHaven Dynamic Commodity Index Total Return Index (SDCITR) rose 1.25% this week, from a decrease of 1.72% in the previous week.

Gold also ended the Friday session higher, settling at $1,232.70; for the week, gold fell 0.77% — the third weekly decline. Speculation about gradual rate hikes by the Federal Reserve have prompted traders to stay away from the yellow metal once again. Also, trade tensions have eased following the positive outcome from the trade talks between US President Donald Trump and EU Commission President Jean Claude Juncker earlier this week. Traders were also digesting the latest economic data: US Q2 gross domestic product hit a four-year high, but missed the consensus estimate as inventory accumulation was surprisingly weak. On the other hand, copper was up 1.75% this week, despite ending the Friday session in the red and settling at $2.80. Moreover, the gains follow a recent pledge between the US and the EU that aims to resolve the conflict stemming from the steel and aluminum tariffs that both sides had threatened to impose.

Agriculture commodities ended the week mixed following the U.S. and the EU’s move to de-escalate a transatlantic trade conflict. Sugar had a weekly decline of 2.25% and settled at $0.11 on Friday; coffee was at $1.10 per pound at Friday’s close, with a weekly decrease of 0.1%; and cocoa sank 4.44% for the week and closed Friday’s session at $2,233.  Among grains, corn was up 1.97% in the week and settled at $3.76 per bushel in Friday’s session; and soybeans rose 2.22% for the week, closing at $8.85 per bushel on Friday. Meanwhile, wheat rose 2.86% for the week and settled at $5.30 per bushel at the end of Friday’s session as traders digested several data releases from around the globe: Consultancy Strategie Grains, an agro-economic research and analysis bureau specializing in European and world grain and oilseed markets, said it is lowering its estimate for European soft wheat crop for 2018, now projecting wheat to be below 130 million tonnes versus 132.4 million tonnes estimated in early July, citing crop damage from dry and hot weather in recent weeks in northern and central parts of Europe. This would be the lowest soft wheat harvest in the EU since 2012. On the other hand, agriculture consultancy SovEcon reported wheat yields from Russia have declined to around a three-year low. Russia is the world’s top wheat exporter. And, back home in the US, hard red spring wheat in the southern half of North Dakota and adjacent areas of South Dakota are projected to have below average yields.

The SummerHaven Dynamic Agriculture Index Total Return Index (SDAITR) rose 0.25% for the week, compared with an increase of 0.73% in the prior week.

 

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Information Contact: Justin Hillstrom – 720.917.0770 Email: Justin.hillstrom@alpsinc.com, Website is www.uscfinvestments.com

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Commodity trading is highly speculative and involves a high degree of risk. Commodities and futures generally are volatile and are not suitable for all investors. Investing in commodity interests subject each Fund to the risks of its related industry. An investor may lose all or substantially all of an investment. These risks could result in large fluctuations in the price of a particular Fund’s respective shares. Funds that focus on a single sector generally experience greater volatility. Leveraged and inverse exchange-traded products pursue daily leveraged investment objectives which means they are riskier than alternatives which do not use leverage. They are not suitable for all investors and should be utilized only by investors who understand leverage risk and who actively manage their investments. For further discussion of these and additional risks associated with an investment in the Funds please read the respective Fund Prospectus before investing.

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USO001762 Ex. 10/31/2018