Apple (AAPL) Stock Sinks As Market Gains: What You Should Know

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Yahoo Finance 12 July, 2021 - 04:45pm 16 views

Is Apple stock a buy?

Apple currently has a Zacks Rank of #2 (Buy). Our research shows that stocks rated Zacks Rank #1 (Strong Buy) and #2 (Buy) and Style Scores of A or B outperform the market over the following one-month period. Yahoo FinanceHere's Why Apple (AAPL) is a Great Momentum Stock to Buy

Prior to today's trading, shares of the maker of iPhones, iPads and other products had gained 13.95% over the past month. This has outpaced the Computer and Technology sector's gain of 5.62% and the S&P 500's gain of 3.64% in that time.

AAPL will be looking to display strength as it nears its next earnings release, which is expected to be July 27, 2021. On that day, AAPL is projected to report earnings of $1 per share, which would represent year-over-year growth of 53.85%. Meanwhile, our latest consensus estimate is calling for revenue of $72.75 billion, up 21.88% from the prior-year quarter.

For the full year, our Zacks Consensus Estimates are projecting earnings of $5.18 per share and revenue of $356.27 billion, which would represent changes of +57.93% and +29.78%, respectively, from the prior year.

It is also important to note the recent changes to analyst estimates for AAPL. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.

Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.

The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.19% higher. AAPL is currently sporting a Zacks Rank of #2 (Buy).

In terms of valuation, AAPL is currently trading at a Forward P/E ratio of 27.99. For comparison, its industry has an average Forward P/E of 18.75, which means AAPL is trading at a premium to the group.

We can also see that AAPL currently has a PEG ratio of 2.24. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. AAPL's industry had an average PEG ratio of 1.28 as of yesterday's close.

The Computer - Mini computers industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 21, putting it in the top 9% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

You can find more information on all of these metrics, and much more, on Zacks.com.

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The Dow Jones Industrial Average remains near record highs at the start of July, as the current stock market rally continues. The best Dow Jones stocks to buy and watch in July 2021 are Apple, Boeing, Disney, Microsoft and Nike.

Continued pressure from exceedingly strong U.S. equities markets coupled with dollar strength has curtailed any continuation of the momentum created from the most recent rally.

Blix, which lost to Apple for the second time since December, is one of the founding members of Coalition for App Fairness. One of the group's other founding members, Epic Games Inc., awaits a federal judge's decision in its antitrust lawsuit vs. Apple and the App Store.

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Read full article at Yahoo Finance

Is Vanguard Dividend Appreciation Index Admiral (VDADX) a Strong Mutual Fund Pick Right Now?

Yahoo Finance 13 July, 2021 - 05:40am

VDADX is part of the Large Cap Blend section, an area that boasts an array of many possible options. Large Cap Blend mutual funds most often invest in firms with a market capitalization of $10 billion or more. By investing in bigger companies, these funds offer more stability, and are often well-suited for investors with a " buy and hold " mindset. Blended funds mix large, established companies into their holdings, which gives investors exposure to both value and growth at the same time.

VDADX is a part of the Vanguard Group family of funds, a company based out of Malvern, PA. Vanguard Dividend Appreciation Index Admiral debuted in December of 2013. Since then, VDADX has accumulated assets of about $12.24 billion, according to the most recently available information. Walter Nejman is the fund's current manager and has held that role since May of 2016.

Investors naturally seek funds with strong performance. This fund has delivered a 5-year annualized total return of 15.95%, and it sits in the top third among its category peers. Investors who prefer analyzing shorter time frames should look at its 3-year annualized total return of 17.35%, which places it in the top third during this time-frame.

When looking at a fund's performance, it is also important to note the standard deviation of the returns. The lower the standard deviation, the less volatility the fund experiences. The standard deviation of VDADX over the past three years is 16.38% compared to the category average of 16.72%. Looking at the past 5 years, the fund's standard deviation is 13.44% compared to the category average of 13.97%. This makes the fund less volatile than its peers over the past half-decade.

Investors should note that the fund has a 5-year beta of 0.86, so it is likely going to be less volatile than the market at large. Because alpha represents a portfolio's performance on a risk-adjusted basis relative to a benchmark, which is the S&P 500 in this case, one should pay attention to this metric as well. Over the past 5 years, the fund has a positive alpha of 0.96. This means that managers in this portfolio are skilled in picking securities that generate better-than-benchmark returns.

For investors, taking a closer look at cost-related metrics is key, since costs are increasingly important for mutual fund investing. Competition is heating up in this space, and a lower cost product will likely outperform its otherwise identical counterpart, all things being equal. In terms of fees, VDADX is a no load fund. It has an expense ratio of 0.08% compared to the category average of 0.95%. VDADX is actually cheaper than its peers when you consider factors like cost.

Investors should also note that the minimum initial investment for the product is $3,000 and that each subsequent investment needs to be at $1.

Your research on the Large Cap Blend segment doesn't have to stop here. You can check out all the great mutual fund tools we have to offer by going to www.zacks.com/funds/mutual-funds to see the additional features we offer as well for additional information. And don't forget, Zacks has all of your needs covered on the equity side too! Make sure to check out Zacks.com for more information on our screening capabilities, Rank, and all our articles as well.

Ironically, the widespread belief that it’s impossible helps to make it possible.

Outside the shimmer and shine of hypergrowth companies lies the stable and stodgy realm of dividend stocks. What they lack in flair is made up for with consistent earnings growth and steady payouts. As the largest waste and recycling services provider in North America, Waste Management (NYSE: WM) has developed a reputation for being a best-in-breed income stock.

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7 Low Price-to-Book Stocks Worth Buying in July

Yahoo Finance 13 July, 2021 - 05:40am

Though price to earnings (P/E) and price to sales (P/S) valuation tools are more commonly used for stock selection, the price-to-book ratio (P/B ratio) is also an easy-to-use metric for identifying low-priced stocks with high-growth prospects.

 P/B is the ratio of stock price to book value

P/B ratio = market capitalization/book value of equity

There are several ways by which book value can be defined. Book value is the total value that would be left over, according to the company’s balance sheet, if it goes bankrupt immediately. In other words, this is what shareholders would theoretically receive if a company liquidates all its assets after paying off all its liabilities.

It is calculated by subtracting total liabilities from the total assets of a company. In most cases, this equates to common stockholders’ equity on the balance sheet. However, depending on the company’s balance sheet, intangible assets should also be subtracted from total assets to determine book value.

By comparing the book value of equity to its market price, we get an idea of whether a company is under- or overpriced. However, like P/E or P/S ratio, it is always better to compare P/B ratios within industries.

A P/B ratio of less than one means that the stock is trading at less than its book value, or the stock is undervalued and therefore a good buy. Conversely, a stock with a ratio greater than one can be interpreted as being overvalued or relatively expensive.

For example, a stock with a P/B ratio of 2 means that we pay $2 for every $1 of book value. Thus, the higher the P/B, the more expensive the stock.

But there is a caveat. A P/B ratio less than one can also mean that the company is earning weak or even negative returns on its assets, or that the assets are overstated, in which case the stock should be shunned because it may be destroying shareholder value. Conversely, the stock’s price may be significantly high — thereby pushing the P/B ratio to more than one — in the likely case that it has become a takeover target, a good enough reason to own the stock.

Moreover, the P/B ratio isn't without limitations. It is useful for businesses — like finance, investments, insurance and banking or manufacturing companies — with many liquid/tangible assets on the books. However, it can be misleading for firms with significant R&D expenditure, high debt, service companies or those with negative earnings.

In any case, the ratio is not particularly relevant as a standalone number. One should analyze other ratios like P/E, P/S and debt to equity before arriving at a reasonable investment decision.

Price to Book (common Equity) less than X-Industry Median: A lower P/B compared with the industry average implies that there is enough room for the stock to gain.

Price to Sales less than X-Industry Median: The P/S ratio determines how much the market values every dollar of the company’s sales/revenues — a lower ratio than the industry makes the stock attractive.

Price to Earnings using F(1) estimate less than X-Industry Median: The P/E ratio (F1) values a company based on its current share price relative to its estimated earnings per share — a lower ratio than the industry is considered better.

PEG less than 1: PEG links P/E ratio to the future growth rate of the company. PEG ratio portrays a more complete picture than the P/E ratio. A value of less than 1 indicates that the stock is undervalued and investors need to pay less for a stock that has bright earnings growth prospects.

Current Price greater than or equal to $5: They must all be trading at a minimum of $5 or higher.

Average 20-Day Volume greater than or equal to 100,000: A substantial trading volume ensures that the stock is easily tradable.

Zacks Rank less than or equal to #2: Zacks Rank #1 (Strong Buy) or 2 (Buy) stocks are known to outperform irrespective of the market environment.

Value Score equal to A or B: Our research shows that stocks with a Value Score of A or B when combined with a Zacks Rank #1 or 2 offer the best opportunities in the value investing space.

Here are seven out of the 24 stocks that qualified the screening: 

Ford Motor F, a popular auto comapny, has a 3-5-year EPS growth rate of 21.8%. It currently has a Zacks Rank #2 and a Value Score of A. You can see the complete list of today’s Zacks #1 Rank stocks here.

Boise Cascade BCC, a wood products manufacturer and building materials distributor, hasa projected 3-5-year EPS growth rate of 10.2%. It currently has a Zacks Rank #1 and a Value Score of A. 

Alexion ALXN, a leading biotech, has a projected 3-5-year EPS growth rate of 15.0%. It currently has a Zacks Rank #2 and a Value Score of B.

Group 1 Automotive GPI, a leading automotive retailer, has a projected 3-5-year EPS growth rate of 15.5%. It currently has a Zacks Rank #2 and a Value Score of A.

General Motors GM, one of the world’s largest automakers, has a Zacks Rank #1 and a Value Score of A. The company has a projected 3-5-year EPS growth rate of 9.9%.

Vale VALE, one of the world’s largest mining companies, has a Zacks Rank #1 and a Value Score of B. The company has a projected 3-5-year EPS growth rate of 33.6%.

Envista Holdings Corporation NVST, a dental product company, hasa projected 3-5-year EPS growth rate of 26.4%. It currently has a Zacks Rank #2 and a Value Score of B.

Get the rest of the stocks on the list and start putting this and other ideas to the test. It can all be done with the Research Wizard stock picking and back testing software.

The Research Wizard is a great place to begin. It's easy to use. Everything is in plain language. And it's very intuitive. Start your Research Wizard trial today. And the next time you read an economic report, open up the Research Wizard, plug your finds in, and see what gems come out.

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Gold prices have been strong, but one precious metals player's share price has lagged behind its peers. It could be about to catch up.

(Bloomberg) -- As drought conditions bake the upper reaches of the U.S. Plains, American farmers are now expected to harvest their smallest oats crop in records that go back to 1866.Heat and dry weather are sapping yield potential in key growing states. This year’s U.S. harvest is estimated at 41.3 million bushels, the smallest ever, Department of Agriculture data showed Monday. The outlook is down from the agency’s June estimate of about 53 million bushels. The USDA’s downgrade to the oats harv

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Markets have been heading up, with year-to-date gains in the S&P and NASDAQ at 18% and 15% respectively. So far, the upward trend is showing signs of staying power, and JPMorgan global market strategist, Jordan Jackson, sees a strong foundation in the offing for further growth. Earnings, in Jackson’s view, will be the key driver going forward in this second half: “What’s going to drive the market higher? I think going forward it is going to be earnings... Earnings are certainly expected to surpr

STOCKHOLM (Reuters) -Finland's Nokia said on Tuesday it planned to raise its full-year outlook as business picked up pace in the second quarter, sending the telecom equipment maker's shares up more than 6%. Nokia had been struggling against Nordic rival Ericsson as product missteps in the early stages of 5G hampered growth and led to changes in its top management. But under the management of Pekka Lundmark, Nokia has been regaining lost ground by making changes in its operating model, cutting costs, laying off thousands of employees and forging new partnerships with technology and telecom companies.

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Hailing from a wide range of sectors, see 36 of today's fastest-growing stocks expecting 51% to 1,277% EPS gains in 2021.

Shares of 3D Systems (NYSE: DDD), a diversified 3D printing company, dropped 9.7% on Monday, probably because of usual volatility and, perhaps, some news from Desktop Metal. The only news 3D Systems announced on Monday was the scheduled date of the release of its second-quarter 2021 results: Monday, Aug. 9, after the market closes. A good portion of 3D Systems stock's Monday drop was probably simply due to its usual volatility.

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JPMorgan, Bank of America, Citigroup, Costco and Oracle are part of Zacks Earnings Preview

Yahoo Finance 13 July, 2021 - 05:40am

The large money-center banks that will kick-off the 2021 Q2 earnings season for the sector this week have lost some altitude over the last few weeks, but have otherwise enjoyed an amazing run this year, with these stocks handily outperforming the broader market.

JPMorgan and Bank of America will report June-quarter results before the market's open on Tuesday (7/13) and Wednesday (7/14), respectively.

With respect to the reserve releases, the group has already released more than 42% of the cumulative reserves built in the wake of the pandemic. It is reasonable to expect further reserve releases in the Q2 reports, driven by a combination of improving macroeconomic outlook and stable credit market conditions.

We expect continued momentum along the trends set in 2021 Q1, with the core banking business still reporting weak loan demand, particularly on the C&I (commercial and industrial) side, partly offset by gains in auto and credit card loans, as suggested by Fed data. Net interest margin likely improved in Q2, reflecting higher long-term yields during the period that have lost some ground in recent days.

A brief comment on the recent pullback in long-term treasury yields is in order here, as the yield weakness has been the big driver of bank stocks' recent pullback following a stellar earlier run.

The question in the marketplace whether this yield weakness is reflective of the bond market's outlook for economic growth and inflation or merely technical phenomenon that will dissipate over the coming months is hard to conclusively answer at this stage. That said, we lean more towards the latter explanation (technical bond market reasons) as we see the economic outlook as robust today as it was a few weeks back.

While we don't expect much on the core banking side, we do expect strong numbers in the capital markets business, particularly on the investment banking side, while trading revenues are faced with tough comparisons to the year-earlier period. Recent management commentary from JPMorgan suggests that 2021 Q2 trading revenues could be down almost -40% on a year-over-year basis, with the investment banking business enjoying a record run.

The decline at Citigroup is expected to be a bit better, but the trend overall for the group is expected to be of significant year-over-year declines, offset by strong gains on the advisory side (M&A, IPOs, etc.). 

As such, the overall set up for bank earnings remains positive, with the stocks likely reversing their recent interest rate-centric weakness.

For the Zacks Major Banks industry, which includes these major banks and accounts for roughly 45% of the Finance sector's total earnings, Q2 earnings are expected to be up +190.8% on -4.8% lower revenues. This would follow +182.5% earnings growth on +1.8% higher revenues in the preceding period (2021 Q1). Easy comparisons to the year-earlier period when the banks booked huge loan-loss reserves is the biggest driver of the +190.8% year-over-year earnings growth for the group.

For the Finance sector as a whole, total Q2 earnings are expected to be up +94.3% on +3.1% higher revenues.

The market knows that the eye-popping earnings growth pace for the group is mostly due to easy comparisons. But the sector's Q2 earnings are expected to be above the pre-Covid 2019 Q2 period by +6.4%.

What it will be looking for are trends on the margin front, particularly given the expected gains in auto and credit card loan balances. It will also be interesting to see management teams' views on the aforementioned interest rate outlook question.

Total Q2 earnings for the S&P 500 index are currently expected to be up +62.2% from the same period last year on +18.2% higher revenues. This would follow the +49.3% earnings growth on +10.3% higher revenues in 2021 Q1. Estimates have steadily gone up in recent months, with the current +62.2% growth rate up from +50.6% at the start of the quarter on April 1st and +41.6% at the start of January.

A big part of the unusually strong earnings growth expected in the Q2 earnings season is due to easy comparisons to last year's Covid-hit period. But as we have been consistently pointing out, not all of the growth is a result of easy comparisons.

Given how strong earnings surprises turned out to be in the preceding reporting cycle (2021 Q1), the final earnings growth tally for 2021 Q1 could be as high as +80%.

2021 Q2 at $395.3 billion is +62.2% above the Covid-hit $243.8 billion tally achieved in 2020 Q2. You can also see here that 2021 Q2 is +9.9% above the comparable pre-Covid 2019 period.

To the extent that this growth outlook can improve as we move into the back half of 2021 will determine whether the overall earnings picture

The Q2 reporting cycle will really get going as JPMorgan and the other major banks come out with their fiscal June-quarter results this week (JPM reports before the market's open on Tuesday, July 13th). But we (and other data aggregators) count the start of this and other earnings season(s) a little differently. From our standpoint, the Q2 reporting cycle got underway with companies reporting results for their fiscal quarters ending in May.

We have already seen such May-quarter results from 18 S&P 500 members, including Costco, Oracle and others. Companies with fiscal quarters ending in June will start reporting results this week and we have 22 S&P 500 members on deck to report results this week.

We are off to a great start with the 18 S&P 500 members that have reported results already. Total earnings for these 18 companies are up +102.8% from the same period last year on +20.9% higher revenues, with 83.3% beating EPS estimates and 88.9% beating revenue estimates.

It is too early to draw any conclusions from this very small sample of results. But for what it's worth, this is a better performance from these 18 index members than we have seen in the recent past.

For a detailed look at the overall earnings picture, including expectations for the coming periods, please check out our weekly Earnings Trends report >>>>Q2 Earnings Growth Reflects More than Easy Comparisons

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Past performance is no guarantee of future results. Inherent in any investment is the potential for loss.This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for information about the performance numbers displayed in this press release.

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AGNC Investment (AGNC) Stock Sinks As Market Gains: What You Should Know

Yahoo Finance 13 July, 2021 - 05:40am

Coming into today, shares of the real estate investment trust had lost 4.63% in the past month. In that same time, the Finance sector lost 1.64%, while the S&P 500 gained 3.64%.

AGNC will be looking to display strength as it nears its next earnings release, which is expected to be July 26, 2021. The company is expected to report EPS of $0.64, up 10.34% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $337.9 million, down 9.17% from the year-ago period.

For the full year, our Zacks Consensus Estimates are projecting earnings of $2.65 per share and revenue of $1.47 billion, which would represent changes of -1.85% and -12.59%, respectively, from the prior year.

It is also important to note the recent changes to analyst estimates for AGNC. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.

Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.

The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. AGNC is currently a Zacks Rank #2 (Buy).

Digging into valuation, AGNC currently has a Forward P/E ratio of 6.36. For comparison, its industry has an average Forward P/E of 10.46, which means AGNC is trading at a discount to the group.

The REIT and Equity Trust industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 122, which puts it in the top 49% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.

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Can Barrick Gold (GOLD) Keep the Earnings Surprise Streak Alive?

Yahoo Finance 13 July, 2021 - 05:40am

This gold and copper mining company has an established record of topping earnings estimates, especially when looking at the previous two reports. The company boasts an average surprise for the past two quarters of 12.22%.

For the last reported quarter, Barrick Gold came out with earnings of $0.29 per share versus the Zacks Consensus Estimate of $0.26 per share, representing a surprise of 11.54%. For the previous quarter, the company was expected to post earnings of $0.31 per share and it actually produced earnings of $0.35 per share, delivering a surprise of 12.90%.

With this earnings history in mind, recent estimates have been moving higher for Barrick Gold. In fact, the Zacks Earnings ESP (Expected Surprise Prediction) for the company is positive, which is a great sign of an earnings beat, especially when you combine this metric with its nice Zacks Rank.

Our research shows that stocks with the combination of a positive Earnings ESP and a Zacks Rank #3 (Hold) or better produce a positive surprise nearly 70% of the time. In other words, if you have 10 stocks with this combination, the number of stocks that beat the consensus estimate could be as high as seven.

The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a version of the Zacks Consensus whose definition is related to change. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier.

Barrick Gold currently has an Earnings ESP of +12.21%, which suggests that analysts have recently become bullish on the company's earnings prospects. This positive Earnings ESP when combined with the stock's Zacks Rank #3 (Hold) indicates that another beat is possibly around the corner. We expect the company's next earnings report to be released on August 9, 2021.

Investors should note, however, that a negative Earnings ESP reading is not indicative of an earnings miss, but a negative value does reduce the predictive power of this metric.

Many companies end up beating the consensus EPS estimate, but that may not be the sole basis for their stocks moving higher. On the other hand, some stocks may hold their ground even if they end up missing the consensus estimate.

Because of this, it's really important to check a company's Earnings ESP ahead of its quarterly release to increase the odds of success. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported.

Sleep Country Canada Holdings Inc. ("Sleep Country" or the "Company") (TSX: ZZZ) will hold a conference call on August 4, 2021 to review second quarter results for fiscal 2021. The results will be released after the market closes on August 3, 2021.

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Top news and what to watch in the markets on Tuesday, July 13, 2021.

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