‘Dividend Stocks: A Hidden Gem for Value Investors\n\nDividend stocks have been overshadowed by the hype around growth stocks this year, but they offer strong fundamentals and potential for both dividend growth and capital appreciation.\n\nOne company that stands out among dividend stocks is Morgan Stanley (NYSE:MS). While traditional banks have struggled, Morgan Stanley has a more diversified revenue stream, with almost 50% of its revenue coming from its wealth management division. This provides stability compared to the cyclical lending business. Additionally, the investment banking business is expected to rebound in 2024, and the recent success of IPOs suggests a more receptive market. With a stable wealth management franchise and potential for a rebound in investment banking, Morgan Stanley is a strong choice among dividend stocks.\n\nAnother company to consider is Philip Morris International (NYSE:PM). A solid performance in 2022, PM has underperformed this year due to a rotation to growth stocks. The company continues to execute flawlessly, gradually moving away from cigarettes and introducing alternatives like heated tobacco and tobacco-free oral nicotine pouches.’ $ARM 2023-12-19T17:34:33.710Z
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' ComEd and EPRI Partner to Bring Locally Sourced Produce to Northern Illinois Communities\n\nCHICAGO, December 13, 2023--(BUSINESS WIRE)--ComEd and EPRI have joined forces to install four agricultural pods (ag pods) across northern Illinois, providing access to locally sourced produce and supporting education opportunities in agriculture. These ag pods, equipped with LED lighting, high-efficiency HVAC systems, and other technologies, create a controlled environment for year-round crop production.\n\nThe ag pods, managed by local organizations trained by ComEd, EPRI, and the farm’s manufacturer, include the Emerald South Economic Development Collaborative, Grow Greater Englewood, Northern Illinois University, and the Young Mens Educational Network. "ComEd is proud to collaborate on this project that will not only increase access to healthy food in our communities but also provide educational opportunities in agriculture," said Gil C. Quiniones, CEO of ComEd.\n\nThe ag pods are equipped with an embedded system that allows farmers to remotely control lighting, temperature, and watering conditions, creating the ideal environment for produce to thrive. To continuously monitor each farm's operation, EPRI and ComEd have installed a custom monitoring and verification system. "EPRI is excited to include ComEd as part of this larger collaborative project and explore potential opportunities from this CEA farm to benefit the northern Illinois community," said Arshad Mansoor, president and CEO of EPRI.\n\nThese ag pods not only support the local production of a wide variety of crops but also contribute to the community through sustainable energy, water, and sustainability goals. "Indoor agriculture is a rapidly emerging industry across the United States, and we’re seeing innovative designs, technologies, and energy applications that benefit the community," said Mansoor.\n\nIn addition to providing access to fresh, healthy food, these ag pods also offer educational and research opportunities for students and faculty. "Northern Illinois University is excited to partner with ComEd and EPRI on the installation of our ag pod grow container," said Bryan Flower, assistant director of food systems innovation at NIU. "The amazing educational and research opportunities this unit will afford our students and faculty will be invaluable."\n\nIn a ComEd's collaboration with EPRI to install ag pods across northern Illinois highlights their commitment to sustainable and innovative solutions for the community.'
'TPI Composites, Inc. Refinances Preferred Stock with Oaktree Capital Management, L.P.\n\nTPI Composites, Inc. (Nasdaq:TPIC) has announced a binding agreement with Oaktree Capital Management, L.P. To refinance Oaktree's outstanding Series A Preferred Stock holdings in the Company. The refinancing closed concurrently with the execution of the Agreement.\n\nUnder the terms of the Agreement, Oaktree converted its existing $436 million Series A Preferred Stock investment into a $393 million senior secured term loan, with the remaining $43 million exchanged into common equity. This exchange has resulted in Oaktree holding 9.9% of TPI's common equity on a pro forma basis. The maturity of the term loan has been extended to March 31, 2027, providing the Company with greater financial flexibility.\n\nThe refinancing transaction is expected to confer a number of benefits to the Company, including improved liquidity of approximately $190 million through the life of the term loan. This is primarily due to the extension of time the Company can pay in-kind dividends. Additionally, the refinancing has permanently reduced future obligations by up to $90 million through the exchange of $43 million of accrued and unpaid dividends on the Series A Preferred Stock to approximately 3.9 million shares of TPI's common equity.\n\n"We are pleased to announce this refinancing transaction with Oaktree, who has been a supportive partner over the last two years and is demonstrating their commitment to and confidence in TPI with this refinancing," said Bill Siwek, President, and CEO of TPI. "This transaction will provide significantly greater financial flexibility to execute on our strategic initiatives as we continue to navigate the near-term challenges in the wind industry and positions us to support the growth anticipated by our customers as market conditions improve."\n\nTPI and Oaktree have also agreed that the term loan will not be subject to the minimum fixed charge dividend coverage ratio or other financial maintenance covenants that were previously in effect, other than the requirement to maintain a minimum cash balance in the U.S. This provides the Company with significant refinancing flexibility.\n\n"We are excited to deepen our relationship with TPI through this transaction and working with the TPI team to realize the full potential of the Company\'s opportunities and impact in the industry," said Andrew Moir, Senior Vice President at Oaktree and a Director of TPI.'
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