TOP 100 INDEPENDENT FINANCIAL ADVISORS • PULLOUT SECTION

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VOL. CII NO. 38 SEPTEMBER 19, 2022 $5.00

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STREAMING’S
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BLURRY FUTURE
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As Netflix and Disney+ turn to ads,
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the battle for viewers heats up.
The bull case for Disney, Warner Bros.
Discovery, and Trade Desk.
For personal non-commercial use only. Do not edit or alter. Reproductions not permitted.

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PAGE 18
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Squid Game
no

Netflix

>
63142
 C O N T ENTS 09.19.22 VOL.CII NO.38

P. 18 P. 20 P. 32

Streaming Services Trader: This Bear Isn’t

Stake a Claim in Ads Worthy Alternatives to China Ready to Hibernate
Cover Story: Potential winners Emerging markets Brazil, Indonesia, and India are set to outperform as China and the It’s too soon to pounce on stocks.

.
and losers as Netflix, Disney, and U.S. struggle. Here are a handful of stocks and funds to consider. By RESHMA KAPADIA By BEN LEVISOHN

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other providers look to generate
more money from advertising. P. 35
Tracking the main stock indexes for Brazil, India, Indonesia, and the U.S.
By JACK HOUGH
Euro Trader: Ryanair

on
S&P 500 Jakarta Composite (Indonesia) Ibovespa (Brazil) NSE Nifty 50 (India)
P. 7 Stock Could Soar 45%
20
Up & Down Wall Street: By RUPERT STEINER

Facing Rate Reality

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P. 35

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Worsening price trends prompt
Emerging Markets:

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calls for a supersize Fed rate hike. 10
Where to find high returns. Putin’s Fair-Weather Pal

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By RANDALL W. FORSYTH 5 By CRAIG MELLOW

P. 11 0 P. 36

Streetwise: Better Ways Striking Price: Lessons

-5
to Generate Income in Long-Term Investing

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Reluctance to return to the office By STEVEN M. SEARS

-10
could force REITs such as Vornado
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to slash payouts. Plus, the lesson P. 37
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that Apple can learn from Disney.
By JACK HOUGH
Commodities: Oil’s
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-20 Pullback Makes Sense
P. 14 By MYRA P. SAEFONG
-25
A Golden Opportunity
For personal non-commercial use only. Do not edit or alter. Reproductions not permitted.

P. 58
in Newmont Stock -30
An Alternate View of
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Trading near multiyear lows, the Jan. 2022 Sept.

miner’s shares could be the safest the Dollar’s Prospects
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Note: Data through Sept. 15 and in local currency. Source: Bloomberg

way to bet on a gold revival—while Other Voices: Three things that
a generous 5.2% dividend yield could hasten the greenback’s end.
means you get paid to wait. By EDWARD PRICE
By NICHOLAS JASINSKI
SPECIAL PULLOUT
P. 16 P. 23 P. 28
Top 100 Independent
Another Pivotal Why This Mid-Cap Tech Trader: Deal- Advisors and RIAs
Moment for Crypto Fund Still Likes Tech Making Hits a Wall Here’s how to select an advisor
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Momentum is building to regulate Profile: Amy Zhang of Alger Mid How Adobe’s bid for Figma and who can best meet your needs.
the cryptocurrency industry. Some Cap Focus sold highfliers like Okta Oracle’s Cerner deal differ.
players even welcome it. and scooped up beaten-down By ERIC J. SAVITZ
By JOE LIGHT Photo illustration by stocks CrowdStrike and Paylocity. Barron’s Roundtable
no

Barron’s staff; (Squid

Games) Dom Slike/Alamy By DEBBIE CARLSON P. 29 on Fox Business
P. 22
© 2022 Dow Jones & Company,
P. 26
Economy: Don’t Bet Watch our weekly TV show Satur-
U-Haul Parent Amerco Inc. All Rights Reserved.
on a Fed Rate Pivot day or Sunday at 10 a.m. or 11:30
Could Move Up 50% Our newspapers are 100% sourced
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The Dollar Could By LISA BEILFUSS a.m. ET. This week, an interview
The company flies under Wall BARRON’S (USPS 044-700) (ISSN
1077-8039) Published every
Have a Record Year with Eurasia Group’s Ian Bremmer.
Street’s radar. But bullish investors Monday. Editorial and Publication Q&A: Currency expert Jens P. 25
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10036. Periodicals postage paid at
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Charting the Market P. 39
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to trade at a higher multiple.

offices. Postmaster: Send
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By ANDREW BARY By RESHMA KAPADIA By LAWRENCE C. STRAUSS
 September 19, 2022 BARRON’S 3

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Income strategies as
deep as our heritage

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• One of the largest municipal fund managers
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 4 BARRON’S September 19, 2022

I N D EX
Our index lists significant companies mentioned in stories and columns, For Customer Service, call 1 (800) 544-0422, or go to
plus Research Reports, and Corrections & Amplifications. The customercenter.barrons.com. For reprints of articles,
references are to the first page of the item in which the company is call 1 (800) 843-0008, or go to djreprints.com.
mentioned.

A AbbVie . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11 Intel . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 34 L Lennar . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13 MPLX . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8

.
Accenture . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13 iRobot . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 38 Life Storage . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 22
Ace Hardware Indonesia . . . . . . . . . . . . . . . . . . . 21 LTC Properties . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8 N NCR . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 39

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Adobe . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12,28,39 LVMH Moet Hennessy Louis Vuitton . . . . . . 12 Netflix . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18
Advanced Drainage Systems . . . . . . . . . . . . . . . 38 J JPMorgan Chase . . . . . . . . . . . . . . . . . . . . . . . 25,38 Newell Brands . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 33
AGNC Investment . . . . . . . . . . . . . . . . . . . . . . . . . . 8 M Marathon Digital Holdings . . . . . . . . . . . . . . . . . 16 Newmont . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14
Akero Therapeutics . . . . . . . . . . . . . . . . . . . . . . . . 39 K Kajaria Ceramics . . . . . . . . . . . . . . . . . . . . . . . . . . 21 MasterCraft Boat Holdings . . . . . . . . . . . . . . . . 38 Nucor . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 39

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Alphabet . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19 Keurig Dr Pepper . . . . . . . . . . . . . . . . . . . . . . . . . 33
Amazon.com . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 38 Microsoft . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 28 O Oberoi Realty . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 21
Amerco . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 22 MicroStrategy . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 39 Office Properties Income Trust . . . . . . . . . . . . 11
Annaly Capital Management . . . . . . . . . . . . . . . . 8
Apple . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11,28 Omega Healthcare Investors . . . . . . . . . . . . . . . . 8

us ,
Ares Capital . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8 Oracle . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 28

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Automatic Data Processing . . . . . . . . . . . . . . . . 24

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AutoZone . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13

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Avalara . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 28
Avis Budget Group . . . . . . . . . . . . . . . . . . . . . . . . 22 P Packaging Corp. of America . . . . . . . . . . . . . . . 39

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Paramount Global . . . . . . . . . . . . . . . . . . . . . . . . . . 18
Rupert Murdoch Executive Chairman, News Corp Petrobras . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 21
Robert Thomson CEO, News Corp Almar Latour CEO, Dow Jones Philip Morris International . . . . . . . . . . . . . . . . . 11
B Ball . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13 Phillips 66 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 25
Banco Bradesco . . . . . . . . . . . . . . . . . . . . . . . . . . . . 21 SENIOR VICE PRESIDENT, BARRON’S GROUP Mae M. Cheng Ping Identity Holding . . . . . . . . . . . . . . . . . . . . . 28
Bank of America . . . . . . . . . . . . . . . . . . . . . . . . . . . 25 ASSOCIATE PUBLISHER, BARRON’S GROUP Dan Shar Public Storage . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 22
Bank Rakyat Indonesia . . . . . . . . . . . . . . . . . . . . 21

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MANAGING EDITOR, BARRON’S GROUP Dave Pettit
Bayerische Motoren Werke . . . . . . . . . . . . . . . . 12
To reprint or license content, please contact Barron's reprints department at 800-843-0008 or www.djreprints.com

Berkshire Hathaway . . . . . . . . . . . . . . . . . . . . . . . 22
Blackstone Mortgage Trust . . . . . . . . . . . . . . . . . 8
m er EDITOR IN CHIEF David Cho Q Qualcomm . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13
BP . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 35
Brasil Bolsa Balcao . . . . . . . . . . . . . . . . . . . . . . . . 21 EXECUTIVE EDITOR Bob Rose SENIOR MANAGING EDITOR Lauren R. Rublin

DEPUTY EDITORS Alex Eule, Ben Levisohn

EDITORIAL DIRECTOR, MAGAZINE Phil Roosevelt R Raytheon Technologies . . . . . . . . . . . . . . . . . . . . 34
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Riot Blockchain . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16
C ChargePoint . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 39 MANAGING EDITORS Kristen Bellstrom, Matt Bemer, Daren Fonda, Joe Woelfel Roblox . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 39
Citigroup . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 38 Ryanair Holdings . . . . . . . . . . . . . . . . . . . . . . . . . . 35
Citizens Financial Group . . . . . . . . . . . . . . . . . . . 11 ASSISTANT MANAGING EDITORS Henry Cutter, Mel Gray, Anita Hamilton, Mary Romano,
Coinbase Global . . . . . . . . . . . . . . . . . . . . . . . . . 16,38 Robert Sabat, Rupert Steiner (London bureau chief)
For personal non-commercial use only. Do not edit or alter. Reproductions not permitted.

Comcast . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18
Costco Wholesale . . . . . . . . . . . . . . . . . . . . . . . . . . 13 ASSOCIATE EDITORS Andrew Bary, Randall W. Forsyth, Jack Hough, Reshma Kapadia, Eric J. Savitz
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S Sabra Health Care REIT . . . . . . . . . . . . . . . . . . . 8

Coty . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 33 SENIOR WRITERS Bill Alpert, Lisa Beilfuss, Lauren Foster, Nicholas Jasinski, Tae Kim, Joe Light, Salesforce . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13,28
CrossAmerica Partners . . . . . . . . . . . . . . . . . . . . . 8 Elizabeth O’Brien, Al Root, Avi Salzman, Lawrence C. Strauss Shell . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 35
CVS Health . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .34
F

Shopify . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 38
REPORTERS Jacob Adelman, Luisa Beltran, Megan Cassella, Janet H. Cho, Jack Denton, Carleton English, Sixth Street Specialty Lending . . . . . . . . . . . . . . 8
Sabrina Escobar, Callum Keown, Marc Lajoie, Evie Liu, Shaina Mishkin, Josh Nathan-Kazis, Spectrum Brands Holdings . . . . . . . . . . . . . . . . 33
Angela Palumbo, Teresa Rivas, Connor Smith, Jacob Sonenshine, Karishma Vanjani Starwood Property Trust . . . . . . . . . . . . . . . . . . . 8
D Darden Restaurants . . . . . . . . . . . . . . . . . . . . . . . 13 Store Capital . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 39
STORY EDITORS Ed Lin, Erin McCarthy, Stacy Ozol Sunoco . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8
COPY DESK Michael J. Burlingham, Richard Rescigno, Robert Teitelman
F FactSet Research Systems . . . . . . . . . . . . . . . . . 13
IDEAS EDITOR Matt Peterson
FedEx . . . . . . . . . . . . . . . . . . . . . . . . 7,12,13,32,36,39 T Tabula Rasa HealthCare . . . . . . . . . . . . . . . . . . . 38
Ferrari . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12 DEPUTY DIGITAL MANAGING EDITOR Zoe Szathmary Target . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 25
FirstEnergy . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11 TotalEnergies . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 35
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Fox . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18 SENIOR AUDIO MANAGER Mette Lützhøft DIGITAL PRODUCERS Robert Cushing, Nick Devor, Clare McKeen
Trade Desk . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18
Kristin Lenz DESIGN DIRECTOR Chelsea Schiff
DIRECTOR, DESIGN & VISUALS Twilio . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 39
ART DIRECTORS Robert Connolly, Nick Hallam, Sue Ng
Twitter . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12
G General Mills . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13 DIRECTOR OF PHOTOGRAPHY Sarina Finkelstein PHOTO EDITORS Halie Chavez, Nicole Silver
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Goldman Sachs Group . . . . . . . . . . . . . . . . . . . . . 25

RESEARCH DIRECTOR Pauline Yuelys RESEARCHER Dan Lam
U United Tractors . . . . . . . . . . . . . . . . . . . . . . . . . . . 21
STATISTICS MANAGER Michael T. Kokoszka STATISTICIAN Darren Chima

H HDFC Bank . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 21 ADVERTISING SERVICES MANAGERS James H. Balmer, Ward S. McGuiness

Hercules Capital . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8 NEWS [email protected] STATISTICS [email protected] CUSTOMER SERVICE 800-544-0422 V Vornado Realty Trust . . . . . . . . . . . . . . . . . . . . . . 11
Highwoods Properties . . . . . . . . . . . . . . . . . . . . . 11
Home Depot . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 25 GLOBAL HEAD, WEALTH & ASSET MANAGEMENT Jack Otter
Hormel Foods . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 36 Barron’s is a trademark of Dow Jones and its affiliates. Barron’s (USPS 044-700) (ISSN 1077-8039) Published every Monday. Editorial and Publication
Humana . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 39 Headquarters: 1211 Avenue of the Americas, New York, N.Y. 10036. Periodicals postage paid at Chicopee, MA and other mailing offices. Regular U.S. W Walt Disney . . . . . . . . . . . . . . . . . . . . . . . . . . 11,12,18
subscription rate: one year, $223. Entire editorial content of this publication copyrighted by Dow Jones & Co., Inc. and must not be reproduced in whole
or in part without special permission. Unsolicited manuscripts should be accompanied by self-addressed envelope with proper postage. All advertising Warner Bros. Discovery . . . . . . . . . . . . . . . . . . . 18
published in Barron’s is subject to the applicable rate card, copies of which are available from the Advertising Director, 1211 Avenue of the Americas, New W.W. Grainger . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13
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I IBM . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 34
 September 19, 2022 BARRON’S 5

James Fields
Klingenstein Fields Advisors
Independent since 1989

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us ,
“Move to

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independence,

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and you gain
real control of
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your business.”
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For personal non-commercial use only. Do not edit or alter. Reproductions not permitted.

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You make the move to the RIA model, and you get to keep more of
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what you earn. It’s that simple. And you get to do it in a way that you
believe is right for your clients. From day one you will be investing in
what matters – your clients and your people.

Scan to download our new white paper

or go to advisorservices.schwab.com/move
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Klingenstein Fields Advisors is not owned by, supervised by, or affiliated with Schwab, and its personnel are not employees or agents of Schwab.
This is not a referral to, endorsement of, or testimonial for the advisor with respect to its investment advisory or other services.
Schwab Advisor Services™ serves independent investment advisors and includes the custody, trading, and support services of Schwab.
© 2022 Schwab Advisor Services.™ All rights reserved. Member SIPC. (0322-2BZP)
 6 BARRON’S September 19, 2022

HELP YOUR
CLIENTS KEEP

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THEIR FAIR

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SHARE.

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Analyze pending capital gains distributions and
identify tax loss harvesting opportunities with

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the BlackRock Tax Evaluator.
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Get your share of progress.

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Investing involves risk, including possible loss of principal. No proprietary technology or asset allocation model is a guarantee against loss of
principal. There can be no assurance that an investment strategy based on the tools will be successful. Prepared by BlackRock Investments, LLC, member FINRA.
©2022 BlackRock, Inc. All rights reserved. iSHARES and BLACKROCK are trademarks of BlackRock, Inc., or its subsidiaries in the United States and elsewhere.
All other marks are the property of their respective owners. iCRMH0722U/S-2291914
 September 19, 2022 BARRON’S 7

UP & DOWN WALL STREET

The futures market no longer looks for the Fed to
cut rates next year, which was underlined by the
bond market’s lack of reaction to the FedEx news.

Bulls Get Scorched by

the CME FedWatch website, in line rate increase. In other words, we still
with the prediction in a Wall Street have money for nothing and—with
Journal story earlier in the week. That apologies to Dire Straits—bips for
still left an 18% chance of a full per- free (to use the market’s slang for

.
FedEx. Don’t Expect
centage-point jump. basis points).

ly
Notwithstanding the bigger-than- Since what the Federal Open Market
expected CPI rise, some complaints Committee will actually do is nearly
were heard that the Federal Reserve certain, the main focus will be on its

on
The Fed to Help.
is overdoing the tightening. Accord- new Summary of Economic Projec-
ing to the bleating by some critics— tions and, as usual, Federal Reserve
mainly those who had previously Chairman Jerome Powell’s postmeeting
feasted on cheap money from the press conference.

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central bank—the central bank is This confab will produce the first

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reacting to a lagging indicator by new set of economic projections

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paying heed to inflation. since the June FOMC meeting, which
he stock market jumped following Tuesday’s consumer- Pushback to that notion comes continued to portray an optimistic

ci on
faces a doubly poi- price-index report. In particular, the from John Ryding and Conrad De- outlook.
sonous cocktail: key two-year note’s yield was up 30 Quadros, economic advisors at Brean In that report, inflation was seen
signs of slowing basis points, to 3.871% on Friday, its Capital, who argued last year that coming down toward the 2% neigh-
economic growth highest level since Oct. 31, 2007. inflation wouldn’t be transitory, as borhood—the Fed’s long-term goal
while central As expected, the steep decline in the Fed then was insisting. They con- for the personal consumption defla-

er s
banks attempt to retail gasoline prices tamped down tend that monetary policy is still far tor—while unemployment was ex-
To reprint or license content, please contact Barron's reprints department at 800-843-0008 or www.djreprints.com

rein in inflation that, unlike the pan- the overall monthly CPI headline from restrictive, even though infla- pected to only edge up from the low
demic, hasn’t subsided meaningfully.
m er gain to 0.1%. But “core CPI,” which tion is becoming more broad-based. 3.7% most recently tallied, and eco-
The pincer squeeze from those By Randall W. excludes food and energy costs, rose If the Fed raises the fed-funds nomic growth was projected to come
twin pressures came into sharp focus Forsyth at a 0.6% clip—twice the forecast target by 75 basis points this coming in around or slightly below its long-
this past week after a much worse increase. week, the key policy rate would re- term trend. Back in the 1980s, such
m rp
than expected reading on retail infla- The unexpected worsening in price main lower in real terms than at any benign forecasts were said to be pro-
tion from August, which was fol- trends prompted some calls for a su- time from 1954 to 2021, they write in duced by a government economist
lowed by FedEx (ticker: FDX) stun- per-sized 100-basis-point hike in the a client note. That reflects the wide named Rosy Scenario.
For personal non-commercial use only. Do not edit or alter. Reproductions not permitted.

ning the financial world ahead of federal-funds target rate this coming gap between the 8.3% yearly CPI rise The FOMC’s expectation (don’t
Friday’s session with disappointing week. By Friday, the fed-funds futures and the current 2.25% to 2.5% fed- call it a forecast) for fed funds might
co o

results and withdrawing its earnings market was putting an 82% probability funds rate, and a likely new range of be taken more seriously, given that
guidance over signs of slowing global of a 75-basis-point move, according to 3% to 3.25% after this week’s likely the target rate is under the panel’s
F

business. control. The projection for the end of

The big shipper’s cautionary sig- this year is certain to be raised from
nal followed similar weakness in the 3.4% in June.
another economically sensitive sec- As of Friday, December fed-funds
tor, as indicated by a steep drop in futures were split between a 4%-
the Materials Select Sector SPDR to-4.25% and a 4.25%-to-4.5% year-
exchange-traded fund (XLB). (See end range. That would imply another
the Trader column on page 32 for the 75-basis-point hike at the Nov. 1-2
gory details.) FOMC gathering, followed by either
n-

As equities slid on the FedEx news a 25- or 50-point hike in December.

Friday, the bond market was the pro- Perhaps more telling will be pro-
verbial dog that didn’t bark. Unlike jections for 2023 and beyond. The
during previous stock swoons, Trea- futures market no longer looks for
no

sury securities failed to catch a bid the Fed to cut rates next year, an ex-
from investors seeking a haven in the pectation underlined by the bond
selling storm. Bonds evidently are market’s lack of reaction to the
braced for the impact of another big, FedEx earnings news. Futures cur-
David Paul Morris/Bloomberg

75-basis-point interest-rate increase at FedEx’s rently point to a peak range of 4.25%

the conclusion of the Federal Open disappointing to 4.5%, to be hit by February and to
earnings and
Market Committee’s two-day meeting unexpectedly
linger through July. That’s about
Wednesday. (A basis point is 1/100th weak guidance double the current target range.
of a percentage point.) were key factors In a widely read LinkedIn post
in this past week’s
To be sure, Treasury yields were stock market this past week, Bridgewater Associ-
sharply higher on the week, having swoon. ates’ founder Ray Dalio wrote that a
 8 BARRON’S September 19, 2022

Up & Down Wall Street (continued)

Re-Charge
4.5% fed-funds rate could mean a 20% relatively less sensitive to higher rates
drop in equity prices. But to achieve Je- than most of the breed.
rome Powell & Co.’s anti-inflation goal, Nursing-home REITs were hammered
Deutsche Bank economists suggest, a rate during the pandemic, but should now
near 5% might be needed. enjoy a tailwind as occupancy rises, he
None of which sounds auspicious for argues. Names he cites include Omega

Your Portfolio the bulls. Healthcare Investors (OHI), Sabra

Health Care REIT (SBRA), and LTC

.
nterest rates have further to rise Properties (LTC).

ly
amid persistent inflation, while the He also favors commercial mortgage
labor market remains too strong for REITs, including Starwood Property
its own good. So says Charles Lieber- Trust (STWD) and Blackstone Mortgage

on
man, former chief economist for one of Trust (BXMT), with yields in the 8%
the major New York banks that eventu- range. That’s less than the double-digit
ally was swallowed up by JPMorgan yields found on more familiar residential
Chase. Of even greater interest to most mortgage REITs, but commercial mort-

us ,
Lithium & Barron’s readers is what investment plays gages have significantly lower risk from

l
Lieberman favors in his present capacity rising interest rates, Lieberman explains.

e
Battery Tech ETF

al a
as chief investment officer of Advisors (For more on REITs, see Streetwise on
Capital Management. page 11.)

LIT
ci on
The benchmark 10-year Treasury Less risky for mREIT fans are these
note’s yield of 3.45% simply is unsustain- entities’ preferred stocks, specifically those
ably low with the Federal Reserve on with currently fixed dividends that convert
track to lift its federal-funds target rate to at a future date to floating payouts at a
around 4%-4.50%, Lieberman opined by large spread above short-term interest

er s
telephone this past week. A further rise rates. His picks are AGNC Investment,
To reprint or license content, please contact Barron's reprints department at 800-843-0008 or www.djreprints.com

in bond yields would translate into a de- series E (AGNCO), and Annaly Capital
m er cline in their prices, worsening the nega- Management, series I (NLY Pfd I). Their
tive returns that fixed-income investors current yields are in the 7% range, which
have suffered this year. is well below what’s offered on their risk-
One solution is to stick with short- ier common shares.
m rp
term money-market instruments, such as These preferreds may convert to a
1 (888) 493-8631 Treasury bills, as our colleague Andrew floating dividend rate in 2024 at a spread
GLOBALXETFS.COM Bary writes on Barrons.com and as erst- nearly 5% above a short-term rate bench-
For personal non-commercial use only. Do not edit or alter. Reproductions not permitted.

while bond king Bill Gross said a couple mark. That is, unless they’re called at
of months ago. their $25 par value. So investors should
co o

One-year bills traded at more than a see either a step-up in yields to the 8%
4% bond-equivalent rate Thursday, put- range (based on expected future yields
F

®
ting them at the peak of the Treasury priced into Eurodollar futures) or, if the
Beyond Ordinary ETFs yield curve and above the yield on the paper is called, a capital gain.
widely watched two-year note. Finally, Lieberman likes business de-
Investing involves risk, including the possible loss of principal. International Higher prospective bond yields means velopment companies, or BDCs, which he
investments may involve risk of capital loss from unfavorable fluctuation in equity valuations are expensive, Lieber- calls banks without deposits. These lend
currency values, from differences in generally accepted accounting principles, man continues. However, while many to generally smaller companies, typically
or from economic or political instability in other nations. Emerging markets names—if they have earnings at all—still at hefty interest rates.
involve heightened risks related to the same factors as well as increased command stretched price/earnings multi- The key is to make good loans that
volatility and lower trading volume. Narrowly focused investments may be ples, he sees a lot of cheap stocks. Those actually get repaid, which makes BDC
subject to higher volatility. There are additional risks associated with investing
n-

include shares of quality companies trad- management the key criterion. His selec-
in lithium and the lithium mining industry. LIT is non-diversified. ing at less than 10 times profits, and tions: industry leaders Ares Capital
bond alternatives with higher yields and (ARCC) and Hercules Capital (HTGC),
Carefully consider the Fund’s investment objectives, risk a measure of inflation protection. along with Sixth Street Specialty
no

factors, charges and expenses before investing. This and That naturally leads to the energy sec- Lending (TSLX), which all sport yields
additional information can be found in the Fund’s full or summary tor, notably a number of master limited in the 9% range.
prospectus, which are available at globalxetfs.com. Read the partnerships. Here he picks MPLX As noted in the first part of this column,
prospectus carefully before investing. (ticker: MPLX), a midstream play, and the stock and bond markets face the pros-
Sunoco (SUN), a distributor of motor pect of the Fed doubling its current fed-
Shares of ETFs are bought and sold at market price (not NAV) fuels, both of which sport dividend yields funds target range of 2.25%-2.50% by early
and are not individually redeemed from the Fund. Brokerage over 8%. Another favorite: Crossamer- next year. Finding high returns without
commissions will reduce returns. Distributed by SEI Investments ica Partners (CAPL), a smaller motor- taking on outsize risks is the daunting task
Distribution Co. fuel retailer yielding over 10%. investors now face. B
Lieberman also names a few real estate
investment trusts that he sees as being email: [email protected]
For personal non-commercial use only. Do not edit or alter. Reproductions not permitted.
To reprint or license content, please contact Barron's reprints department at 800-843-0008 or www.djreprints.com
September 19, 2022

no
n- F
co o
m rp
m er
BARRON’S

er s
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ly
.
9
 10 BARRON’S September 19, 2022

.
ly
on
us ,
l
e
al a
ci on
er s
To reprint or license content, please contact Barron's reprints department at 800-843-0008 or www.djreprints.com

m er
You don’t need to
m rp

be a helioseismologist
For personal non-commercial use only. Do not edit or alter. Reproductions not permitted.

to help harness the

co o

power of the sun.

F

Help power your portfolio

with the innovators of the Nasdaq-100.
n-
no

NOT FDIC INSURED | MAY LOSE VALUE | NO BANK GUARANTEE

There are risks involved with investing in ETFs, including possible loss of money. ETFs are subject to risks similar to those of stocks. Investments focused in a particular
sector, such as technology, are subject to greater risk, and are more greatly impacted by market volatility, than more diversified investments.
The Nasdaq-100 Index comprises the 100 largest non-financial companies traded on the Nasdaq. An investment cannot be made directly into an index.

Before investing, consider the Fund’s investment objectives, risks, charges and expenses. Visit
invesco.com/fundprospectus for a prospectus containing this information. Read it carefully before investing.
Invesco Distributors, Inc.
 September 19, 2022 BARRON’S 11

ST R E E T W I S E
Office REITs with New York City exposure had
occupancy rates in the mid-to-high 90s a few
years ago. Now they’re in the high 80s to low 90s.

Work-From-Home
market strategists at Morgan Stanley for all three. Choice seating ran $899.
expect dividend stocks in general to Buyers had to belong to a fan club
outperform as inflation eventually called D23, after Disney’s founding
comes down from peak levels. They year of 1923, at gold level, which costs

Has Legs. The Office

.
recently ran a screen for promising $99.99 a year. And they had to hurry,

ly
ones, then asked the firm’s industry because expo tickets sold out in July.
analysts which to prefer. Some of the These lucky few—well, enough to pack
picks are expected to pay more than the Anaheim Convention Center,

REITs Feel the Pain.

on
4% in dividends next year while pro- which can hold 7,500—got to hear
viding total returns over 30%. Be rea- about things like minor ride enhance-
sonably confident in the first number ments and new character greetings.
but only prayerful about the second. For example, the Star Wars land will

us ,
On that list are Ohio utility soon have a Mandalorian walking

l
FirstEnergy (FE), which for now around with an animatronic Grogu

e
al a
yields 3.8%; drugmaker AbbVie (baby Yoda to non-sticklers).
et back to the of- REIT average. Before Covid, the dis- (ABBV), 3.9%; East Coast banker Citi- I mention this because I just re-

ci on
fice, say CEOs like count was 12%. Office landlord in- zens Financial Group (CFG), 4.5%; turned from my first Disney World trip
Jamie Dimon and comes are getting a lift from a bounce- and wheeze facilitator Philip Morris since before the pandemic. By now you
Elon Musk. I back in variable fees on things like International (PM), 5.4%. might have heard that ticket prices
couldn’t agree parking, but vacancies have crept As for the future of offices, econo- have soared, and there’s a new up-
more. Exchanging higher. REITs with New York City ex- mists say a labor shortage has shifted charge for something called Genie+ to

er s
ideas in person is posure enjoyed occupancy percentages power to wage-earners, who want avoid punishing ride waits, plus an-
To reprint or license content, please contact Barron's reprints department at 800-843-0008 or www.djreprints.com

the lifeblood of any thriving enterprise. in the mid-to-high 90s a few years ago. better work-life balance. They must be other for something called Individual
Give me 50 hours in the big city any
m er Now they’re in the high 80s to low 90s. talking about younger ones. As a Gen- Lightning Lanes on rides too popular
week—no, 60. Add 10 for commuting— By Jack Hough Kamden reckons that nearly all the Xer, I’m motivated more by traditional to be part of Genie+. Availability can
that’s quality audiobook time. office REITs he covers will post lower business values, like greed and inse- run out. Effectively at 7 a.m. there’s a
Still there? Sorry—sometimes man- funds from operations next year. Cash curity. I expect to gradually make new show called Parents Frantically
m rp
agement reads the first few lines. Be- balances will help, but if landlords more frequent trips to the office. For Poking Smartphones to Buy Privileged
tween us, I’m following a standard want to preserve cash, many will need now, if anyone important is looking Access to Slinky Dog Dash.
hybrid plan of high-output isolation to raise outside capital. Kamden is for me, you just heard me jingling into It’s hard to quantify true Mickeyfla-
For personal non-commercial use only. Do not edit or alter. Reproductions not permitted.

mixed with strategic visibility. On the bullish on an office REIT called High- a meeting, and it sounded important. tion, because some previous freebies
busiest work days, I roll out of bed woods Properties (ticker: HIW), are gone, like the bus from the airport.

L
co o

and straight into business slippers, which yields 6.7% and operates in Sun et me turn to something tan- But I’d guess that my costs were up
avoiding human contact at all costs. Belt markets with lower exposure to gentially related to this week’s 40%, fun was down 20%, and the kids
F

On office days, I do a bit of extra work-from-homers. But he recently cover story: how to charge were 15% whinier. That last one is on
noisemaking to leave the impression reiterated bearish calls on New York customers for sitting through me—they turned feral from too much
that I was there for longer. Squeaky heavyweight Vornado Realty Trust advertising. Last week in this space I screen time during the pandemic.
shoes and jingly pocket change help. (VNO), which pays 8%, and the mentioned Apple’s (AAPL) yearly All of this has done wonders for
Office REIT yields of around 7.5% smaller Office Properties Income iPhone presentation. It’s free, of course. Disney’s park operating margins, but
speak volumes about work-from-home Trust (OPI), with exposure to Wash- Cupertino could learn a thing or two by grumbling customers have taken to
expectations. That’s more than double ington, D.C.; Chicago; Atlanta; and looking south, to Anaheim, where switching CEO Bob Chapek’s last name
the average payout for other types of Silicon Valley. It pays 13%. Walt Disney (DIS) just held a typically to Paycheck. I’m watching for signs of
real estate investment trusts. The mar- There are better income opportuni- biennial event called D23 Expo. waning demand, but not seeing them
n-

ket is saying that payment cuts are ties, including outside of REITs. The Tickets were $89 for one day, $229 yet. And the fact that so many paid so
coming, suggesting that occupancy much for so little at the D23 Expo gives
levels aren’t going to bounce back to me confidence in the cash flows.
former levels soon. “If we don’t see But I’m vacationing closer to home
no

signs of organic growth bottoming in BARRONS.COM/PODCASTS from now on, not least because airline
the next 18 months, we think dividend travel has come to resemble a porta-
cuts may be back on the table to pre-
serve capital and reduce leverage,”
wrote Morgan Stanley analyst Ronald
Barron’s Streetwise potty visit—sometimes necessary, but
never good. I’ve got my eye on Bush-
kill Falls, which they call the Niagara
Kamden this past week. In a weekly podcast by Barron’s, columnist Jack Hough looks of Pennsylvania. Park entrance is $15,
Office REITs have fallen harder at the companies, people, and trends you should be watching. and there’s a $3 charge for a trail map,
than the rest of the group this year, and This is Wall Street like you’ve never heard before. Subscribe but no lightning lanes, so long as the
the average big one goes for just seven to Barron’s Streetwise on Spotify, Apple Podcasts, weather holds. B
times next year’s projected funds from or your favorite listening app.
operations. That’s half the broader email: [email protected]
 12 BARRON’S September 19, 2022

R E VIEW 30,822.42
Dow Industrials: - 1329.29
454.36
Dow Global Index: - 19.07
3.45%
10-year Treasury Note: + 0.13

Rattled and Rolled HE SAID

U.S. indexes rose as investors awaited
Tuesday’s consumer-price-index data.
But stocks, oil, and Bitcoin fell after the “History will put

.
release—August inflation at 8.3%, up everything in its place.

ly
0.1% over July. The result was the
worst day for stocks since June 2020. And we will be with gas,
Lower producer prices, an uptick in light, water, and food...

on
August retail, and no rail strike helped,
but mortgage rates topped 6% and a and without you.”
FedEx profit warning sent shares Ukraine President Volodymyr Zelensky
down again. On the week, the Dow after his forces routed Russian forces east

us ,
industrials fell 4.13% to 30,822.42; the of Kharkiv

l
S&P 500 was down 4.77% to 3873.33;

e
al a
and the Nasdaq Composite plunged
5.48% to 11,448.40.

ci on
Inflation: Still Hot
4 DOORS, 4 SEATS, AND A TRUNK The August CPI suggested inflation
was still rising, but the rate was slow-

A Ferrari for ing—maybe. Once again, the data

er s
THE NUMBERS eluded the prognostications of econo-
To reprint or license content, please contact Barron's reprints department at 800-843-0008 or www.djreprints.com

500 K
mists, who had thought falling gaso-
m er
The Family
line prices would have more effect.
Core CPI, which removes volatile food
and energy costs, rose at a 6.3% rate,
The reduction in the U.S. work- above July’s 5.9%. The CPI reinforced
m rp
force because of illnesses the belief that the Federal Reserve will
It took a while, but Ferrari has a family car, with four caused by Covid. hike rates by 0.75 percentage point at

$370 B
doors and four seats. The iconic Italian sports-car maker, its meeting this coming week.
For personal non-commercial use only. Do not edit or alter. Reproductions not permitted.

famed for its black “prancing horse” logo, recently un-

veiled the Purosangue—Italian for thoroughbred—a Ukraine Plays Offense
co o

crossover-sized model (think SUV), equipped with a V-12 A Ukraine lightning offensive east of
engine capable of producing 800 horsepower. Fall in deposits at U.S. banks in Kharkiv routed Russian troops and Ethereum Merges
F

The Purosangue will rocket the kids from zero to 60 the second quarter, the largest seized major rail centers Izyum and Crypto’s Ethereum blockchain completed
miles per hour in about three seconds. But it’s not just since 2018. Balakliya. Moscow said its troops a major software upgrade known as the

18th
about speed. The car’s aluminum frame includes hollow, were “regrouping,” though they left Merge, slashing energy costs by as much
thin-wall, aluminum castings to minimize weight and behind ammunition, heavy weaponry, as 99% and making its token, Ether, into
maximize handling. It’s still a Ferrari. and nearly everything else. Russia more of a yield-bearing instrument,
The Purosangue has a 17-cubic-foot trunk (“boot ca- responded with Cruise missile strikes which could attract regulatory attention.
pacity,” as the company calls it), not usually a consider- Where the U.S. ranked globally on Ukraine power plants and a dam. Ether then dropped nearly 9%.
ation of Ferrari buyers. In comparison, a BMW X1 in a Natixis survey of retirement Russia’s Vladimir Putin met with
crossover has trunk capacity of about 26 cubic feet. The security, down one spot from China’s Xi Jinping in Uzbekistan. Ger- Annals of Deal Making

Illustrations by Elias Stein; Ludovic Marin/AFP/Getty Images

n-

Purosangue also comes with massaging front seats (kids last year. One reason: income many took control of three Rosneft oil Third Point’s Dan Loeb backed off a de-
go in the back) and an optional electrochromic glass roof inequality. Norway was No. 1. refineries. mand that Walt Disney sell its ESPN

$71 K
that can modify its tint. Each of the four seats can be sports network, after Disney CEO Bob
independently adjusted. Rail Strike Averted Chapek said it had a plan for restoring its
no

Sounds ideal for a family road trip, with one catch: A U.S. freight railroads reached a tenta- “growth trajectory”…Twitter whistle-
Purosangue starts at $390,000. Ferrari sold some tive settlement with two major rail blower Peiter Zatko, its former security
11,000 cars in 2021, generating more than $5 billion in Median U.S. household income unions, avoiding a nationwide strike chief, testified before the Senate Judiciary
sales, at roughly $450,000 per vehicle. Ferrari is in the in 2021, essentially flat from that would have cost billions of dollars Committee that the social-media company
luxury-product business, which is why its stock trades pandemic-year 2020. a day. Ten of 12 rail unions had failed to protect customer data. Share-
for 33 times estimated 2023 earnings—closer to LVMH reached agreement, but the Brother- holders voted to approve the takeover by
Moet Hennessy Louis Vuitton than to BMW. LVMH To get Numbers by Barron’s hood of Locomotive Engineers and Elon Musk, who in a third letter de-
trades for about 21 times estimated 2023 earnings; daily, sign up wherever Trainmen and the International Asso- manded to exit the deal…Adobe said it
BMW, for five times. Ferrari stock was up 0.6% for the you listen to podcasts or at ciation of Sheet Metal, Air, Rail, and would acquire cloud-based design-soft-
week. The S&P 500 and Dow Jones Industrial Average Barrons.com/podcasts Transportation Workers hadn’t. The ware developer Figma for some $20 bil-
droped 4.8% and 4.1%, respectively. — Al Root White House cheered the settlement. lion in cash and stock. The stock fell.
 September 19, 2022 BARRON’S 13

P R EV IEW Wednesday The National Association of Realtors reports Sign up for the Review &
existing-home sales for August. Consensus
estimate is for a seasonally adjusted annual Preview daily newsletter at
rate of 4.7 million existing homes sold, about 100,000 fewer than in July. Barrons.com/reviewpreview

Monday 9/19 conference calls to discuss quarterly

results.
AutoZone reports fourth-quarter
fiscal-2022 results. Ball Corp. and Qualcomm hold

.
investor days.

ly
The National Association of Home
Builders releases its Housing Market The Bank of Japan announces its
Index for September. Economists fore- monetary-policy decision. The central

on
cast a 48.5 reading, about even with bank is expected to maintain its ultra-
the August data. The index has fallen low interest-rate policy and keep its
every month this year and in August target rate unchanged at negative
breached the key break-even measure 0.1%, as it has been since early 2016.

us ,
of 50 for the first time since May of The dovish BOJ, in contrast to the

l
2020. hawkish U.S. Federal Reserve, has

e
al a
sunk the yen to its lowest level against
the U.S. dollar since 1998.
Tuesday 9/20

ci on
The Conference Board releases its
A CRISIS POSTPONED? The Census Bureau reports new Leading Economic Index for August.
residential construction statistics for The consensus call is for a 0.1%

Why Natural
Europe's Plight August. Expectations are for a season- month-over-month increase, after a

er s
European gas prices have steadily risen, ally adjusted annual rate of 1.45 mil- 0.4% decline in July. The index has
To reprint or license content, please contact Barron's reprints department at 800-843-0008 or www.djreprints.com

as the European Union scrambles to lion privately owned housing starts, fallen for five consecutive months,
m er conserve energy and find new supplies. matching the July figure. indicating that the risk of a recession

Gas Could Fall U.S. and European Natural Gas Prices,

2022 Through August ($ per MMBtu)
$0 $50 $100 Wednesday 9/21
is rising in the near term.
m rp
January Friday 9/23
Here’s a challenge to the conventional wisdom, courtesy of February General Mills and Lennar release
U.S. Natural
Goldman Sachs: Europe has “solved” its winter natural-gas March Gas earnings. S&P Global releases both its Manu-
For personal non-commercial use only. Do not edit or alter. Reproductions not permitted.

crisis, and prices could drop by half in the next six months. facturing and Services Purchasing
April European
The fuel’s cost has soared, setting records in Europe last Salesforce and W.W. Grainger host Managers’ indexes for September.
co o

Natural Gas
month, just before Russia shut the Nord Stream 1 pipeline to May investor days. Economists forecast a 51 reading for
Germany. Some analysts expect European power bills to June the Manufacturing PMI and a 45.3 for
F

triple early next year, necessitating government bailouts. The Federal Open Market Commit- the Services PMI. This compares with
July
Traders expect prices to stay high into 2023, moderating tee announces its monetary-policy de- 51.5 and 43.7, respectively, in August.
slightly by year end. Gas futures for 2023’s first quarter are August cision. Just two weeks ago, Wall Street
trading at 199.50 euros ($199.05) per megawatt hour. Source: Bloomberg was debating whether the FOMC
But Goldman analyst Samantha Dart sees prices falling would raise the federal-funds rate by
below €100 in 2023’s first quarter. Europe, she says, has built 50 or 75 basis points. After another
Coming Earnings
Gas Rises Consensus Estimate Year ago
storage to 82% of capacity—and will exceed 90% by the end In a rough year for most stocks, the strong jobs report and a hotter-than-
M
of October. Europeans are using less gas, because of new largest natural-gas producers have expected print for the August con- AutoZone (Q4) $38.50 $35.70
rules and a slowing economy. There are caveats. Winter prospered. sumer price index, a three-quarters of a
n-

T
could be harsh, forcing countries to use more gas for heat. Stocks of the 5 Largest U.S. Natural-Gas Producers,
percentage point interest-rate hike Stitch Fix (Q4) -0.63 0.19
Russia could curtail more gas, such as supplies to Italy. And 2022, Year to Date seems all but assured. That would W
consumer subsidies could encourage gas consumption. BP ConocoPhillips Shell bring the fed-funds rate to 3.0%-3.25%. General Mills (Q1) 0.99 0.99
Next summer could be tough. Storage will fall to 22% Traders are even pricing in a 25%
no

Chevron Exxon Mobil H.B. Fuller (Q3) 1.05 0.79

after winter, she says, forcing countries to buy pricier fuel, chance that the central bank will raise More Earnings on Page 55.
80%
likely imported liquefied natural gas. So, prices might rise its key short-term rate by a full per-
to €235 per megawatt hour—higher than traders expect. 60 centage point, which would be the larg- Consensus Estimate
U.S. prices are lower than Europe’s, but they’ve still tri- est move in nearly four decades. Day Consensus Est Last Period
40 T August Houing Starts 1,450,000 1,446,000
pled from long-term averages. Some analysts see prices on
W August Existing Home Sales 4,725,000 4,810,000
this side of the Atlantic also falling. With exports limited, 20
U.S. producers will largely be supplying the domestic mar-
0
Thursday 9/22 TH Q2 Current Account
August Leading Indicators
-$258.1 bil
0.00%
-$291.4 bil
-0.40%

ket, where there’s a relative gas glut. It makes no sense that Unless otherwise indicated, times are Eastern. a-Advanced;
f-Final; p-Preliminary; r-Revised Source: FactSet
prices here would swing dramatically on changes in Europe, -20 Accenture, Costco Wholesale, For more information about coming economic reports
writes RBC Capital Markets analyst Christopher Louney, 2022 Sept. Darden Restaurants, FactSet - and what they mean - go to Barron’s free Economic
Calendar at www.barrons.com
because the U.S. can’t increase exports. — Avi Salzman Source: FactSet Research Systems, and FedEx hold
 14 BARRON’S September 19, 2022

Newmont
Sales were $12.4 billion over the past
four quarters, with net income of $1.9
billion and free cash flow of $1.8 billion.

Stock Is Too
“The assets are there, the manage-
ment is good, and it’s by far the big-
gest gold company, so it’s what most
people look at,” says Caesar Bryan,

Cheap to manager of the Gabelli Gold fund.

T
hose assets are on sale right

Ignore. It’s
now. The stock trades for 0.95

.
times its net asset value, accord-

ly
ing to Gabelli analyst Christo-

Time to Buy.
pher Mancini, versus a typical pre-
mium of 30% to 50% for gold miners

on
in general. He believes that shares
should go for 1.2 times NAV, or $52.
UBS analyst Cleve Rueckert calculates
The only gold stock in the S&P 500 a $50 price target, based on a 7.5 times

us ,
multiple of enterprise value to forward
is a hedge against uncertainty with

l
earnings before interest, taxes, depreci-

e
a 5% dividend yield. The shares

al a
ation, and amortization, or Ebitda—
could have an upside of 20%. which would be close to the stock’s

ci on
historical average. It currently trades at
BY NICHOLAS JASINSKI 5.8 times. Goldman’s Chieng uses a mix
of both valuation multiples and calcu-

G
Shares dropped 13% after the report. A processing plant bet on a gold revival. It bulked up in lates a $53 fair value.
at the Merian gold
old has lost its shine of Still, it may be time to buy New- mine in Suriname, 2019 via its acquisition of Goldcorp, All three targets represent roughly

er s
late, but gold producer mont stock. The dollar, up 14% in owned and operated gaining new mines, people, and other 20% upside before Newmont’s divi-
by Newmont. The
To reprint or license content, please contact Barron's reprints department at 800-843-0008 or www.djreprints.com

Newmont might be a 2022, is unlikely to rise forever, and company’s stock

assets. Its industry-leading scale qual- dend yield of more than 5%.
diamond in the rough.
m er
owning gold would provide a hedge in may be the safest ifies the company for the S&P 500, The dividend has been a focus of
It certainly hasn’t been the case of mean reversion, or poten- way to bet on a gold and it remains the only gold stock in investor worries lately, but Rueckert
revival.
easy being a gold miner tial geopolitical and economic trem- the index. That makes it the default believes that the concerns are un-
lately. As a commodity ors. Newmont continues to increase for generalist investors and gives it founded. The company’s dividend
m rp
producer, you’re worth as much as its production of the precious metal, a boost from index-fund ownership, formula consists of a $1 per share
what you sell, and the price of gold and its stock looks cheap. It also car- while a generous dividend makes it base dividend annually, and a vari-
has been sliding since it topped ries a 5.2% dividend yield, which a target for income funds. It also oper- able payment on top of that tied to
For personal non-commercial use only. Do not edit or alter. Reproductions not permitted.

$2,000 an ounce in early March as means that investors can get paid ates in generally less risky regions 40% to 60% of free cash flow at a
Russia’s invasion of Ukraine spooked to wait. than many other gold miners, with gold price above $1,200 an ounce.
co o

markets. Then, the Federal Reserve “Recent underperformance marks close to 70% of its assets in North That’s currently an additional $1.20
started raising interest rates, sending an attractive entry point for a low-risk America and Australia. per share annually, based on manage-
F

the U.S. dollar higher, and it has been gold producer delivering volume Its nearly 100 million ounces of ment’s estimate of a $1,800 gold
all downhill since then, with gold growth,” writes Goldman Sachs reserves towers over all of its peers price, with the company re-evaluat-
tumbling 19%, to $1,665. analyst Emily Chieng. but one. Newmont produces some six ing the payout whenever the price
Gold’s slide has hit Newmont million ounces of gold annually, and moves by $300 in either direction.

O
(ticker: NEM) hard, with the stock f course, everything starts smaller quantities of other metals Rueckert models sufficient cash
down more than 50% from its April with the price of gold—and including silver, copper, lead, and zinc. flow in the coming years for the com-
high to $42.40, its lowest price since lately the metal has been pany to maintain the current payout
March 2020, when gold was $1,500 under considerable pressure. while investing in new projects and
an ounce. Higher interest rates tend to make Newmont mines. He notes that the current
n-

The company has also been hurt by gold, an asset that doesn’t offer any (NEM / NYSE) $1.20 payout is much closer to 40%
the same inflationary pressures affect- yield, less attractive. It’s also priced in $90 of free cash flow than 60%, while
ing practically every business this dollars, so as the dollar rises, gold is Newmont’s balance-sheet strength
year. A pair of worse-than-expected worth fewer dollars. But a reversal in 80 gives it additional flexibility. (Net
no

quarterly results contributed to the either of those two trends could send debt to Ebitda was just 0.3 times
sharp decline in Newmont stock since gold prices shooting higher. 70 at the end of the second quarter.)
April. In the second quarter, reported “Gold has exceptional medium- Its dividend yield above 5% should
60

Ranu Abhelakh/Reuters/Alamy
in July, management cited higher term fundamentals,” says Thomas put a floor under the stock.
prices for labor, diesel fuel and other Kertsos, manager of the First Eagle “All you really need for the stock
50
energy, and raw materials used for Gold fund. “We have record global to recover is for the gold price to stay
mining and processing gold. The com- debt levels; an equal amount of geopo- 40 flat,” Rueckert says.
pany raised its all-in sustaining costs litical, economic, and financial uncer- With Newmont, investors get a
to $1,150 per ounce, from $1,050. That tainty; and now an energy crisis and a 30 solid option on a higher gold price in a
was a larger increase than many of potential food crisis on the horizon.” 2020 ’22 high-quality company—with a steady
Newmont’s competitors at the time. Newmont may be the safest way to Source: FactSet stream of income in the meantime. B
 September 19, 2022 BARRON’S 15

Billionaire investor and cofounder of The Carlyle Group

David M. Rubenstein
presents a master class on investing

.
ly
@DM_Rubenstein

on
“A compelling insider’s look at investing

us ,
l
through the words of the most extraordinary

e
al a
investors.” —SATYA NADELLA

ci on
er s
To reprint or license content, please contact Barron's reprints department at 800-843-0008 or www.djreprints.com

LEARN THE SECRETS OF TOP

m er
INVESTORS IN PRIVATE EQUITY, VCs,
m rp

REAL ESTATE, CRYPTO, AND MORE.

For personal non-commercial use only. Do not edit or alter. Reproductions not permitted.

co o
F

AVA I L A B L E I N H A R D C OV E R ,
n-

E B O O K , A N D A U D I O D O W N L OA D
no

SimonandSchuster.com
 16 BARRON’S September 19, 2022 September 19, 2022 BARRON’S 17

Inside President
crypto is clearly building. Along with computers 24/7, consume up to 1.7% grated “crypto policy efforts right into
the White House push, bipartisan of U.S. electricity, while crypto activity our app,” including ratings for politi-
bills in Congress could settle long- overall pumps up to 0.8% of U.S.- cians on a crypto-friendliness scale.
standing issues, such as which tokens based greenhouse-gas emissions into Though his political concerns go be-

Biden’s Crypto
qualify as securities and which agen- the atmosphere, the report says. None yond crypto, FTX founder Sam Bank-
cies should be in charge of oversight. of that is compatible with the adminis- man-Fried said recently that he could
At stake are rules for exchanges tration’s goals of cutting emissions by spend $1 billion on the 2024 election.
such as Coinbase, investment firms up to 52% by 2030. The industry sees Congress as the

Crackdown
like Grayscale Investments, and min- So, what to do about it? The White key to winning favorable rules. That’s
ers such as Riot Blockchain (RIOT) House floated several actions the EPA in part because it will likely require a

WHERE
and Marathon Digital Holdings and Energy Department could take. law to settle perhaps the most conten-

.
(MARA). Token issuers and compa- The most draconian would ban proof- tious issue: which tokens should fall VOLATILITY

ly
nies backing decentralized-finance of-work mining—the process the Bit- under oversight of the SEC.

RISK MEETS
networks are on edge because they coin network uses. Other major block- SEC Chair Gary Gensler, who has
A flurry of White House reports outline a much tougher approach to may come under more scrutiny from chains, such as Ethereum, have brought several enforcement actions

on
crypto regulation. The industry is already fighting back. agencies empowered to carry out the switched to less energy-intensive sys- against crypto companies, said in a
president’s orders. tems, making Bitcoin an outlier.

OPPORTUNITY
Senate Banking hearing Thursday
At the same time, crypto’s critics But a mining ban is also the least that he believes the “vast majority” of
see the regulatory momentum as a realistic solution; mining would sim- UNCERTAINTY
tokens are securities under the

us ,
BY JOE LIGHT pension funds. Pyrrhic victory. Some consumer advo- ply shift to other countries. And a agency’s jurisdiction and that ex-

l
The industry also needs to restore cates view the White House’s initia- potential ban already has the industry changes ought to be registered.

e
Whatever the conditions, CME Group provides

al a
he White House wants to credibility, given its recent blowups. tives as a back door for crypto to vowing legal challenges. “The White But putting the SEC in charge of
bring law and order to The bankruptcies of major crypto deepen its ties to the financial system. House is on questionable legal ground crypto is far from a done deal. The
the tools that global market participants need

ci on
crypto. Its plans are start- firms like Celsius Network, Voyager And they worry that more regulation if they were to ever attempt to ban Senate agriculture committee is con-
ing to take shape. Digital, and Three Arrows Capital will only expand the appeal to retail Bitcoin mining,” tweeted Lee Bratcher, sidering a bill that would put the bulk to manage risk and capture opportunities.
Backed by an executive helped wipe out $2 trillion in the to- investors, paving the way for more president of the Texas Blockchain of crypto under the watch of the
order, the White House ken market, undermining crypto’s investors to lose money in tokens and Council, a trade group representing CFTC, which the industry sees as a With 24-hour access to trading in futures,
released a set of reports appeal to institutional investors and crypto-related companies. crypto-mining interests in the state. lighter regulator. Crypto backers im- options, cash and OTC across all major asset

er s
this week on the administration’s putting pressure on lawmakers to “Now, you can have a crash where That’s just a small facet of the ad- plored the committee this week to add
classes, you can determine your best position
To reprint or license content, please contact Barron's reprints department at 800-843-0008 or www.djreprints.com

plans to regulate the industry. While come up with consumer protections. trillions of dollars vanish in months ministration’s challenges. Friday’s provisions to the law that would define

m er
encouraging innovation—including “The industry is very supportive of but the systemic implications are reports detailed crypto’s threats to most cryptos as commodities, which
the potential development of a Federal consumer protections and investor zero,” says Dennis Kelleher, CEO of “ It’s clear consumers, financial stability, and the would take away much of the SEC’s and take action at just the right moment.
Reserve–backed “digital dollar”—the protections being put in place,” says Better Markets, a Wall Street watch- that there’s a tools the government uses to combat enforcement and rule-making power.
reports urge regulators such as the Brett Quick, head of government af- dog that has become a big crypto illicit finance. One report even said the With the November midterm elec-
VISIT CMEGROUP.COM/OPPORTUNITY

m rp
Securities and Exchange Commission fairs for the Crypto Council for Inno- critic. “That won’t happen if the in- lot of work Department of Labor should investi- tions looming, the bill has little time to
and Commodity Futures Trading vation, a trade group whose members dustry is connected to the core of the the Biden gate the fiduciary conduct of 401(k)- become law this year. But the industry
Commission to “aggressively pursue include Coinbase Global (ticker: banking and financial system.” administration plan sponsors that offer crypto as an thinks it could advance in 2023, no
For personal non-commercial use only. Do not edit or alter. Reproductions not permitted.

investigations and enforcement ac- COIN) and venture-capital firm An- The White House climate report on investment—a swipe at Fidelity In- matter which party controls Congress.
tions,” the White House said. dreessen Horowitz. crypto illustrates the administration’s wants to do.” vestments, which aims to offer Bitcoin “The agencies have done about all

co o
The reports followed a blistering Political momentum to regulate hurdles. Mining operations, running Owen Tedford in retirement plans it administers. they can, and we really need Congress
missive from the White House earlier Fidelity said it views its crypto prod- to step in,” says Blockchain Associa-

F
this month on the climate impact of uct “as a responsible solution to meet tion executive director Kristin Smith.
crypto mining, which uses massive the demands of mainstream interest.” POSITION
While regulatory momentum
amounts of electricity to process For many crypto companies, regu- builds, investors in crypto stocks have
transactions, primarily for Bitcoin. lation is now viewed as a necessity. STRATEGY
more immediate worries. Bitcoin is
For crypto companies and inves- Crypto emerged among libertarians trading just below $20,000, down
tors, it looks like another pivotal mo- averse to government intervention; 72% from its November high. Mining
ment. And like all things in crypto, the many proclaimed blockchain technol- companies may be less worried about
regulatory push is fueling more con- ogy resistant to “censorship” and a ban on their operations than staying
troversy and uncertainty over whether other forms of control. Yet the bulk of afloat amid a long crypto winter that
Washington will figure out how to
establish rules without breaking the
industry’s back.
“It’s clear that there’s a lot of work
n- its financing now comes from venture
capital and banks that believe regula-
tion will bolster crypto valuations.
Oversight is inevitable, given the size
has wiped out profits and put some
miners on the brink of insolvency.
Exchanges are also ailing. Coinbase

Illustration by Barron’s Staff; Dreamstime (2)

stock is down 70% this year. “The
no
the Biden administration wants to of the token market, at $1 trillion, and biggest fear for Coinbase isn’t regula- Laird Hamilton
do,” says Owen Tedford, an analyst for economic interests in crypto from tion, but natural causes of death: com- World-Class Big Wave Surfer
Beacon Policy Advisors, a Washing- Wall Street to Silicon Valley. pressing fees, overhiring, and less-en-
ton, D.C.–based policy research firm. The industry has built a powerful gaged investors who got burned and
Despite its antigovernment roots, lobbying force and is flooding pro- are deterred from playing again,” says
the industry is seeking regulation, crypto candidates with contributions. Mizuho Securities analyst Dan Dolev.
albeit on its own terms. The thinking The Blockchain Association, a trade For now, the industry might just be
Derivatives are not suitable for all investors and involve the risk of losing more than the amount originally deposited and profit you
is that a legal framework for tokens group, unveiled a new political-action hoping to get through this downturn might have made. This communication is not a recommendation or offer to buy, sell or retain any specific investment or service.
and trading platforms will attract committee this past week. Coinbase while convincing Congress to protect Copyright ©2021 CME Group Inc. All rights reserved.
more mainstream users along with CEO Brian Armstrong also said this it from a regulatory wave that the
institutional pools of capital, such as past week that the company had inte- White House is trying to build. B
 18 BARRON’S September 19, 2022 September 19, 2022 BARRON’S 19

ing tiers and cable. broadcast and cable, or to FAST,

Yet, if the television industry is which stands for free ad-supported
he calculated that Netflix could need
$3.8 billion in yearly advertising reve-
outsiders to track Netflix users to
other sites and advertise to them at Studios that once licensed now says it will consolidate its HBO
Max and Discovery+ streaming plat-

Next on Netflix:
successful, it could not only rekindle streaming television. FAST services
growth, but also pull back power that skimp on content costs and pack in
nue to make up for lost subscription
fees, and will likely generate less than
lower cost.
One answer is called a data clean shows cheaply are now forms to hold down costs. Paramount
is considering the same for Showtime
has been lost to the closed-off adver- the ads, but users can’t beat the price.
tising economies of Google and Face- Paramount Global (PARA) owns the
$1.8 billion to start.
Tim Nollen at Macquarie Research
room, or software that allows collabo-
ration without oversharing. Trade hoarding them for their and Paramount+.
This past week, activist investor
book. FAST service Pluto TV; Comcast predicts that Netflix will secure CPMs Desk is providing a data clean room
own streaming platforms. Daniel Loeb backed off his demand

Strange Things,
“Connected television is what will (CMCSA) has Xumo; and Fox (FOX) of $50 by next year and $60 by 2025. for Disney. Microsoft, which just that Disney sell ESPN, tweeting about
bring down the walls of walled gar- has Tubi. By then, he sees the company bringing bought a programmatic advertising a “better understanding” of its poten-
dens,” says Jeff Green, founder and The better-known streaming ser- in $3.6 billion in U.S. and Canada ad- company called Xandr from AT&T, is tial. Loeb had argued that ESPN
CEO of Trade Desk (TTD), which vices, where users pay subscriptions vertising revenue, and $8.5 billion believed to be doing something similar $97 billion in stock market value to- would be worth more to a company

.
competes with Alphabet as an ad-buy- to start shows when they want, are worldwide, or $2 billion more than the for Netflix. Microsoft declined to com- day. One wild card: Microsoft is be- that would pursue gambling. Disney

ly
Also Known as Ads
ing platform and has partnered with called SVODs, for subscription video company would bring in without ad- ment. lieved to have offered Netflix a mini- CEO Bob Chapek, asked at a recent
Disney in streaming advertising. He on demand. When the cost is subsi- vertising. He recently upgraded the That could eventually make Netflix mum revenue guarantee of perhaps company event whether ESPN is de-
means that streaming can match the dized with ads, like the new Netflix stock to Neutral. an advertising powerhouse. But $500 million to $1 billion to help win veloping a gambling app, said, “We’re

on
targeting power of online search and and Disney+ tiers, they’re called Evercore ISI analyst Mark Mah- there’s plenty of risk for investors be- its advertising business. working very hard on that.”
social media while making the emo- AVODs. Some FASTs dabble in aney upgraded Netflix to Outperform tween now and then. Free cash flow For the legacy players, pay-TV sub- Ehrlich at BofA and Nollen at Mac-
tional connection of video. “A banner AVOD, and vice versa, and both ser- this past week. He sees $1 billion to $2 for the company hasn’t quite turned scriptions have fallen from a peak of quarie both favor Disney and Warner
ad has never made you cry,” he says. vices compete for the same ad bud- billion in incremental revenue by meaningfully and consistently posi- more than 100 million in 2015 to for their mix of must-haves like storied

us ,
Ads on new, cheaper tiers of Netflix and Disney+ BY JACK HOUGH
Trade Desk is poised to be a winner gets. 2024—and 10 million more subscrib- tive. Content costs have soared—wit- about 82 million, and losses have studios, live news, and sports rights. If

l
pose competition for tech giants Google and Facebook, as more advertising dollars flow to That’s the taxonomy. Here’s the ers. A recent survey of “churned” or ness the more than $1 billion that Am- lately been accelerating. But at least Disney’s price increase looks like a

e
al a
but will they boost the stocks? A look at potential streaming. moneymaking: Ad revenue is deter- departed subscribers leads him to azon.com is expected to spend on its the remaining cash flows offer a dare for subscribers to downgrade,
winners and losers as the streaming battle heats up. Microsoft (MSFT), a rising ad mined by ad load, audience size, and believe that 20% of them could return new series loosely related to the Lord bridge until streaming pays off. Dis- there’s a good reason. “Disney will

ci on
player, should benefit, as well. Roku CPM, or cost per mille, which is Latin with a cheaper tier. Just how cheap it of the Rings books. Studios that once ney, with a market value of about $205 probably make more on their AVOD
(ROKU) could have better odds than for thousand, and refers to the price of will be isn’t yet known, but forecasts licensed shows cheaply are now billion, could top $10 billion in free platform than the SVOD,” says Ehrlich.
its collapsed stock price suggests. Walt reaching that many screens. Ads are of $7 to $9 a month are common. The hoarding them for their own stream- cash flow in three years. Paramount, Nollen is particularly bullish on
Disney (DIS) and Warner Bros. Dis- sold ahead of time during so-called cheapest ad-free Netflix plan costs ing platforms. valued at $15 billion, is expected to Trade Desk. “Because they’re neutral,
covery (WBD) will benefit from rich upfront negotiations in late spring and $9.99 a month, and the most popular Netflix has lost subscribers for two generate at least $1 billion. because they’ve got great scale, great

er s
content engines. Netflix, meanwhile, early summer, and last-minute in one is $15.49. Disney recently priced quarters running. The stock has re- The cash cow of the group is War- relationships, great ability to tie very
To reprint or license content, please contact Barron's reprints department at 800-843-0008 or www.djreprints.com

faces plenty of risk. And across the what’s called the scatter market. TV its ad-supported Disney+ at $7.99 a bounded 28% since the end of June in ner Bros. Discovery. It’s valued at $31 targeted ads into all of these services,

m er
industry, more consolidation appears companies use a carrot-and-stick ap- month—the same price as the current anticipation of a return to growth, billion and is seen generating nearly we think they’re going to be one of
inevitable. proach to get early commitments, of- ad-free service, which will soon move versus 4% for the S&P 500 index. $4 billion in free cash this year and the winners in this transition,” he
Advertising already abounds on fering choice spots during upfronts, to $10.99. Meanwhile, the U.S. advertising in- well over $9 billion in three years. says.
streaming. What is changing now is and warning of higher rates for those One factor that could weigh on dustry turned in its weakest perfor- Peacock owner Comcast earns far Alicia Reese, a media analyst at

m rp
the scale. Netflix dominates viewer- who wait for scatter. Netflix’s CPMs early on is that the mance in two years in July, with more from home cable connections, Wedbush, recommends former high-
ship. Its users took in 1.3 trillion min- To sum up the current state of TV company will offer little viewer infor- spending falling 12.7% from a year especially for broadband service, than flier Roku, whose stock has collapsed
utes of content during the most recent advertising, upfronts were solid this mation, which might have more to do earlier, according to research group from show business. by 78% in a year. It has a TV operat-
For personal non-commercial use only. Do not edit or alter. Reproductions not permitted.

TV season, roughly from late last Sep- year, but scatter has turned choppy. with its abilities than privacy con- Standard Media Index. There have already been two big ing system that allows set owners to
tember to early May, according to Also, to date, streaming has made cerns. A partnership with Microsoft Without more growth soon, inves- streaming deals this year. Discovery search for programs across their

co o
Nielsen data by way of BofA Securi- most of its advertising inroads in scat- will help, eventually. tors could begin second-guessing completed its purchase of AT&T’s streaming apps, plus an AVOD called
ties. That’s nearly double the atten- ter, whereas traditional television still “The ink isn’t even dry on the agree- whether Netflix’s projected $4.5 bil- WarnerMedia, and Amazon closed on Roku TV. The company was hit by

F
tion paid over the same period to rules the upfronts. That’s bound to ment,” says Ratko Vidakovic, founder lion in free cash flow in 2025 is worth TV and movie studio MGM. Warner high exposure to the weakened scatter
CBS, the ratings leader in traditional change. of AdProfs, an ad-technology consul- market, says Reese. But the market
TV, and five times that of the next- Now for the question that matters tant. “It’s going to take a while for them value is down to $9.4 billion, and the
biggest streamer, Disney+. most: Where will CPMs come in for to spin up the new advertising infra- The Battle for Viewers—and Ad Dollars consensus view is that free cash flow
Netflix just moved up the launch of Netflix? If they’re high, it could pro- structure that’s going to allow them to Netflix is a clear leader as others play catch-up. Experts expect more consolidation in a crowded field. will reach $500 million in three to
its ad-supported service to November vide cover for the entire industry to offer more sophisticated ad targeting.” four years.
Minutes of Content Watched (billions) Estimated Ad Cost per Thousand (CPM) Range
to beat Disney+ on Dec. 8. That means prosper. If they’re low, Netflix will Traditional television has limited Streaming commercials could
it will want to lock in advertisers by need a hefty ad load in a hurry, and it ability to target viewers with preci- Netflix 1.3 T Netflix $20 $40 prove effective enough to siphon

Illustration by Barron’s Staff; Alamy (5); Netflix (2); Disney+ (2)

the end of this month. It’s expected to still might not make up for customers sion. The internet has plenty of ability, spending to TV from online display

per content hour.

n-
start at an “ad load” of four minutes

Jessica Reif Ehrlich, a media ana-

who trade down from full-price sub-
scriptions. The whisper number is
that the company is looking for $65.
but it has long relied on technologies
like tracking cookies that raise privacy
concerns. Apple and Alphabet have
CBS

NBC
Amazon

Discovery+
ads in the years ahead, says Brett Gor-
don, who teaches marketing at North-
western University’s Kellogg School of

“W
e’ll be right cheaper plans. For Disney+, it’s to off- lyst at BofA, predicts what she calls Some on Wall Street are whispering cracked down on third-party cookies ABC HBO Max Management.
no
back after set a recent acceleration in cable cord- silent price hikes in the form of a back: “Good luck.” on their devices and software, and At Trade Desk, CEO Green is eye-
Fox Hulu
these mes- cutting. Barron’s laid out those con- quick rise in ads for each hour. Hulu is a veteran at selling stream- now advertisers are pondering a post- ing a global ad budget approaching $1
sages.” The cerns in a March cover story. “There’s no way it’s going to stay at ing ads, and gets CPMs that are esti- cookie world. Disney+ Disney+ trillion. “I want as much of that as
age-old com- Much could go wrong in the near three, four, five minutes,” she says. mated in the $20s and low $30s. (Dis- Meanwhile, streaming services Amazon Prime possible,” he says. And although his
Peacock
mercial lead-in takes on new meaning term for these companies and their “Hopefully it won’t be what we see on ney owns two-thirds of Hulu and will have direct credit card relationships Video buying platform plays in websites,
at a time when a bounceback for Net- rivals. A glut of advertising slots linear, which is unbearable.” likely buy the rest from Comcast in with customers, giving them valuable Hulu Pluto TV apps, podcasts, and more, he makes
flix and Walt Disney shares rests on could push industry prices lower, The TV business is packed with 2024.) HBO Max is a top CPM draw, insights that could fetch top dollar no secret of where he thinks the
the coming launch of ad-supported especially if the economy weakens. jargon. Here’s a quick glossary for with rates pegged in the $40s. Nat from advertisers. What is needed is a Apple TV+ Roku money is headed. “Connected televi-
tiers for the two streaming leaders. Too many ads per hour could frus- investors. Linear means that movies Schindler, BofA’s Netflix analyst, who way for advertisers to tailor their cam- 0 500 1,000 1,500 0 $20 $40 $60 sion,” he says, “is quickly becoming
For Netflix (ticker: NFLX), the goal trate viewers. Too few could acceler- and shows run at scheduled times, is bearish on the stock, expects CPMs paigns without Netflix sharing indi- Note: viewing data for the TV season from Sept. 20, 2021–May 8, 2022. the most effective way to advertise on
is to reverse subscriber losses with ate defections from full-price stream- and can refer to either old-fashioned of $20 to $40. In one recent analysis, vidual customer details or allowing Sources: company reports; Nielsen; The Hollywood Reporter Sources: BofA Global Research; ad buyer estimates the planet at scale.” B
 20 BARRON’S September 19, 2022 September 19, 2022 BARRON’S 21

of the William Blair Emerging Emerging manager of the Rondure New investors have been net buyers of emerging markets. It is also an energy
Markets Growth fund (ticker: WBEIX), World fund (RNWOX), which stocks in India in recent months. importer, needing roughly 1.1 billion
which has been buying more stocks
Bargain is overweight Indonesia with While China is struggling to get out barrels of oil a year. While energy
recently in Brazil. companies like Ace Hardware of its economic rut, India is emerging prices have eased off their highs,
One way to tap into Brazil’s Indonesia (ACES.Indonesia). from a decadelong malaise, following McClone says a $10 increase in oil
improving outlook is through Brazil’s
stock exchange operator, Brasil Bolsa
10.5 While Indonesia is among the best-
performing markets so far this year,
years of tackling a debt crisis and
short-term pain from major structural
prices would hurt its fiscal situation
and hamper its expected economic
Balcão (B3SA3.Brazil). “As rates go The MSCI Emerg- McClone, who has a heftier allocation reforms—among them tax reform and growth, which the International
down, equities should bounce, and ing Markets index, to the country than peers, still sees demonetization, which invalidated Monetary Fund forecast at 7.4%
there will be more secondary and at 10.5 times next potential, noting that Indonesian 85% of the currency in circulation economic growth this year.
initial public offerings,” McClone says. year’s earnings, is companies are expected to generate overnight in 2016 in a bid to crack While roughly 5% of its energy

.
“Brazil is unique in that it has cheaper than the 30% earnings growth in the coming down on tax evasion and corruption. needs came from Russia before the

ly
a private-equity culture, so we could 14 times it has year. McClone’s fund owns companies India’s corporate and bank balance war in Ukraine, that has climbed to
get more IPOs.” averaged since such as Bank Rakyat Indonesia sheets are in their healthiest condition 20%—and that oil is priced at roughly
As Brazil’s outlook improves, 2010. (BKRKY), a microfinance lender with in almost a decade. The changes that a 20% discount, McClone says. Policy

on
GQG Partners Chairman and Chief a 30% return on equity, and United took a while to digest are now collec- makers are also helping to buffer its
Investment Officer Rajiv Jain favors Tractors (UNTR.Indonesia), which tively “repowering India,” says Justin currency by tapping $50 billion of its
energy, materials, and financial sells equipment for coal mining, Leverenz, manager of the Invesco reserves. Further weakness is a risk,
companies, including oil giant which is seeing increased demand Developing Markets fund, which has but India still has roughly $560

us ,
Petrobras (PBR) and Banco in the wake of disruptions created a fifth of its portfolio in India. billion in its reserves.

l
Bradesco (BBD). The bank trades at by the war in Ukraine. He points to a wave of digitization

e
al a
6.6 times 2023 earnings and generates Indonesia and India are also well and formalization of swaths of India’s ndia, Indonesia, and Brazil
a 16% return on equity. Jain thinks it positioned to take market share in the informal economy. India is also at the combined account for less than a

ci on
can pay more than a 7% dividend yield. global supply chain from China as cusp of a housing and credit growth quarter of the broader emerging
“There’s a fear of nonperforming U.S.-China tensions increase and recovery—a marked contrast to China, markets index. Some active funds
loans because of higher rates, but [the companies look to diversify produc- which is reeling from a property have higher allocations, including
sector] is not coming from a period of tion, especially in areas like tech- market bust. Jain’s GQG Partners Emerging
crazy lending in this cycle like it did nology, medical equipment, and high- William Blair’s McClone is finding Markets Equity fund (GQGPX),

er s
in 2013 to 2014,” Jain says. Such loans end manufacturing. opportunities in HDFC Bank (HDB), which has a quarter of assets in
To reprint or license content, please contact Barron's reprints department at 800-843-0008 or www.djreprints.com

“will rise but not spike,” he predicts. which he describes as the JPMorgan India, 18% in Brazil, and almost 2%

m er
Brazil’s presidential election in f there’s an emerging market that Chase of India, as well as tile company in Indonesia. McClone’s William
October could inject volatility. The fund managers see as taking Kajaria Ceramics (KJC.India) and Blair Emerging Markets Growth fund
leftist candidate, former president China’s role in the asset class, it is property developers including Oberoi has 21% in India, 6% in Indonesia,
Luiz Inácio Lula da Silva, is expected India, which Capital Economics Realty (OBER.India), which is well and 5.6% in Brazil.

m rp
to edge out President Jair Bolsonaro. says is on track to becoming the world’s positioned for a housing recovery. Other funds with strong track
At current prices, the market is third-largest economy by 2030. Foreign India is one of the pricier parts of records and bigger exposure to at least

Forget China. These

Strong demand for oil and metals after October’s 20th Party Congress, already bracing for a Lula victory. two of the three markets include
For personal non-commercial use only. Do not edit or alter. Reproductions not permitted.

like copper and nickel is helping com- when top leadership is selected— An upset by Bolsonaro would offer Rondure New World, which has 17%
modity producers, including Indone- moves needed for Chinese stocks markets a boost, McClone says. Recovery Plays allocated in India, 8% in Indonesia,

co o
sia. Emerging market central bankers, to recover meaningfully. Longer term, the country stands These funds and stocks offer exposure to growth in India, Indonesia, and Brazil. and 3% in Brazil, and Touchstone

Markets Are Better Bets.

such as those in Brazil, have been ear- But some emerging markets are to benefit from the energy transition. Fund / Ticker AUM (mil) Comment Sands Capital Emerging Markets

F
lier and more proactive in fighting already attractive. Brazil, India, and Brazil is known as a major oil Growth (TSMGX), which has 11%
Rondure New World / RNWOX $215 Run by value-oriented manager, the fund has 17%
inflation than the Fed. Structural Indonesia are primed to outperform, producer. More surprising is that in India, 3% in Brazil, and 7.6% in Indonesia. allocated in Brazil, almost 31% in India,
trends—including tensions between as their economic situations offer an roughly 85% of its installed power- and 3% in Indonesia. Fidelity Emerg-
William Blair Emerging Markets Growth / WBEIX 679 The fund has 21% allocated in India, 6% in Indonesia,
the U.S. and China and the war in attractive counter to the challenges generation capacity is renewable, and 5.6% in Brazil. ing Markets Discovery (FEDAX) has
Ukraine—benefit countries such as facing the U.S. and China. including hydro and wind—the about 9% allocated in Brazil, 19% in
GQG Partners Emerging Markets Equity / GQGPX 10,100 Run by veteran global manager, the fund has 26% in
India and Indonesia. highest of the Group of 20 nations, India, and 4.5% in Indonesia,

W
India, 18% in Brazil, and 1.8% in Indonesia.
Emerging markets now sell at a big discount. India, Indonesia, and Brazil The MSCI Emerging Markets in- hile the U.S. and European according to TS Lombard. according to Morningstar Direct.
Fidelity Emerging Markets Discovery / FEDAX 433 The fund has 19% in India, 9% in Brazil, and 5% in
offer fast growth and attractive assets. How to invest. dex, at 10.5 times next year’s earn- markets are just now feeling Given the sharp moves in cur-

I
Indonesia.
ings, is cheaper than the 14 times it the sting from higher prices, ndonesia is also well positioned rencies, with the yen and euro falling

BY RESHMA KAPADIA Reserve raised interest rates. Coun-

n-
has averaged since 2010. With the
pandemic, emerging markets have
Brazil ended last year as one
of the worst-performing markets as
for strong commodity demand,
especially as countries scramble
Touchstone Sands Capital Emerging
Markets Growth / TSMGX
2,700 The fund has almost a third allocated in India, 11% in
Brazil, and almost 3% in Indonesia.
to multidecade lows versus the dollar,
Jain says he sees more macroeconomic

R
Source: Morningstar
tries that borrowed heavily in dollars traded at their cheapest valuation the country battled double-digit infla- for alternatives to Russia’s nickel risk in developed markets like Japan
ising interest rates in face rising debt burdens and a weaker versus developed markets since the tion. Corporate earnings took a hit. and oil. Demand for its metals and and Europe that are grappling with
no
Company / Ticker Recent Price Market Value (bil) 2023E P/E Comment
the U.S. and Europe, a currency to try to finance them. Capi- global financial crisis. Part of the Brazil’s central bank raised interest palm oil has contributed to a record HDFC Bank / HDB $65.25 $121.1 19.2 Well-run Indian bank that should reap high levels of leverage, less fiscal
strengthening dollar, and tal tends to flee to safer shores as discount stems from the long list of rates over the past 18 months from 2% current-account surplus, helping to benefits of improving economy discipline, and anemic growth
a volatile market that yields rise elsewhere, further tighten- troubles plaguing China—which ac- in early 2021 to 13.75%. That has put keep the rupiah relatively strong. Its Petrobras / PBR 13.24 82.3 2.7 State-owned oil giant benefiting from prospects than emerging markets
makes investors risk- ing financial conditions and exacer- counts for almost a third of the MSCI it far ahead of its U.S. and European resources position it well for the long strong demand for energy like India, Indonesia, and Brazil.

Illustration by Klawe Rzeczy

averse are usually bad bating the pain. index—as it grapples with a property counterparts and closer to the end of term, with many of them needed for Bank Rakyat Indonesia / BKRKY 14.92 45.1 12.6 Well-run Indonesian bank that has a strong While emerging markets are far
news for emerging mar- That is still the reality for a handful slump and zero-Covid approach that its rate hike cycle, with possible cuts green-energy products. microfinance business from immune to the jitters hitting the
kets. But a few of them are holding of troubled emerging markets, includ- has locked down millions of people coming later this year or next. The short-run bull case for Banco Bradesco / BBD 3.71 36.2 6.6 Strong Brazilian bank with 16% return on U.S. and other markets, some of these
up relatively well and poised to out- ing Turkey, Colombia, and South Af- in major cities. That would set up valuations to Indonesia is that the economy is equity countries are going against the trends
perform developed markets. rica. But as Barron’s reported earlier Optimists hope that China will recover, while U.S. and European val- reopening as Covid restrictions are Brasil Bolsa Balcão / B3SA3.Brazil BRL12.88 14.1 16.0 Stock exchange that should benefit as playing out in the U.S. and Europe.
Emerging markets have run into this year, more emerging markets this continue to introduce more stimulus uations are weighed down by rising eased. Retailers are in the sweet spot markets recover and IPO activity picks up That is a good reason to take a closer
trouble in the past when the Federal time around are in better shape. and ease up on its Covid lockdowns rates, says Todd McClone, co-manager for a recovery, says Laura Geritz, co- E=estimate Source: Bloomberg look. B
 22 BARRON’S September 19, 2022

Amerco: Invisible
last year, modest by CEO standards. late junk is unbelievable, and people
“Amerco is one of the great busi- are incredibly bad about purging,”
nesses that is completely unknown on Smead says.
Wall Street. The brand is ubiquitous,” Sales from U-Haul’s storage opera-
says Steve Galbraith, chief investment tion have grown at a 16.5% clip over the

Stock, Familiar Brand officer at Kindred Capital Advisors, a

Norwalk, Conn., investment manager
that owns the stock. He thinks the
shares are worth 50% more than their
past decade; its footprint has quadru-
pled to about 50 million square feet.
Amerco has been building self-storage
facilities at most of its more than 2,000
current price—not outlandish, given company-owned rental sites because
that they peaked last November at $769. people often find that they have un-

.
U-Haul’s parent has thriving truck-rental and self-storage operations, Others are even more bullish. needed stuff when they move. The com-

ly
but its shares are sputtering. Why they could move up by 50% or more. “Amerco should trade slightly above pany spent $1 billion on the business in
the market multiple, given the consis- its fiscal 2022.
tency of the business and how little Based on the valuations of compa-

on
competition it has,” says Bill Smead, nies like Life Storage (LSI), Galbraith
co-manager of the Smead Value thinks U-Haul’s self-storage unit,
fund (SMVLX). At a market multiple, which generates about $700 million
the stock would trade near $1,000. in annual revenue, could be worth

us ,
It’s hard to overstate just how domi- most of Amerco’s market value. So,

l
nant U-Haul is. The company says that investors aren’t paying much for the

e
al a
one in five Americans move each year truck-rental operation, which pro-
and that 75% of moves are “do-it-your- duces most of its $5.7 billion in annual

ci on
self.” There are no data on truck-rental sales. Given the strength of Amerco’s
market share, but it’s believed that U- business, Galbraith and Smead believe
Haul has more than 50%. Rivals in- that, if the Shoen family ever wants to
clude Penske and Avis Budget Group sell, Berkshire Hathaway (BRK.A)
(CAR). U-Haul rents trucks and trail- would be an interested buyer.

er s
ers (which are towed behind vehicles) After net income nearly doubled in
To reprint or license content, please contact Barron's reprints department at 800-843-0008 or www.djreprints.com

at more than 23,000 U.S. locations. fiscal 2022, to $1.1 billion, some inves-
m er U-Haul does little advertising, in tors wondered if Amerco was “over-
large part because its trucks and trail- earning.” But profits in the June quar-
ers are rolling billboards for its ser- ter, at $17 a share, were little changed
vices. It prices rentals on local demand. from the year-earlier level. One inves-
m rp
Reflecting the migration from Califor- tor beef is Amerco’s refusal to offer a
nia, a three-day truck rental from Los regular dividend, which Galbraith says
Angeles to Phoenix later this month limits its pool of potential investors.
For personal non-commercial use only. Do not edit or alter. Reproductions not permitted.

costs $566, while the reverse trip is only He thinks it can afford to pay out $10
$199. All told, the truck-rental business’ annually—a 2% yield. Its periodic
co o

revenue has grown at a 9% annual rate dividends—characterized as specials—

over the past decade. totaled just $1.50 in the past year.
F

BY ANDREW BARY Street’s attention. There are no profit The company U-Haul’s self-storage business Craig Inman, a portfolio manager at

F
spends little on ads
estimates for the current fiscal year because its trucks also is impressive. The industry has Artisan Partners, praises Shoen and
ew companies are as domi- because there is virtually no analyst and trailers are exploded in the past decade, and lead- his team, but also thinks Amerco
rolling billboards
nant as U-Haul, which is coverage of the stock, despite its $10 for its services.
ers like Public Storage (PSA) have should boost its payout. One option
virtually synonymous with billion market value. generated outsize returns. “The would be a mix of a regular dividend
rental trucks used by do-it- The company, led by its strong- American public’s ability to accumu- and a variable one tied to profits–a
yourself movers. And few willed chairman and president, Joe combination becoming more common.
companies are as anonymous Shoen, doesn’t cater to the investment On conference calls, Shoen has been
as Amerco, U-Haul’s parent. community. It pays a minuscule, Amerco / UHAL noncommittal on dividends. As for
n-

But if investors look at Amerco sub-1% dividend, doesn’t buy back Truck rental and self storage repurchasing stock, he told Barron’s in
closely, they’ll find a lot to like. U-Haul stock, provides limited financial dis- Recent Price: $515.24 UHAL(Nasdaq) an email, “While there are economic
has a nearly impregnable market posi- closure, and refuses to change its non- calculations that support a buyback,
Images/Universal Images Group via Getty Images

YTD Change: -28.9% $800

tion, with nearly 10 times the number descript name to U-Haul, which could 2022 EPS: $57.29 our general attitude is to reinvest in the
no

700
of rental locations as Penske, one of its raise its profile. 2022 P/E: 9.0 business so that we can better serve
top rivals. Amerco also has quietly built No one can force any changes. The 2022 Revenue (bil)): $5.7 600 customers.” Asked about the gap be-
a large self-storage business to comple- Shoen family controls the company, Market Value (bil): $10.1 tween Amerco’s intrinsic value and
ment its rental operations, and that owning more than half of the stock. Net Debt (bil): $3.4 500 stock price, Shoen replied, “There is no
value doesn’t appear to be reflected in A trust controlled by Joe Shoen and Dividend Yield: 0.3%
400
action that is off the table. I believe we
its stock price. Amerco shares (ticker: his brother Mark owns a 43% stake. 2022 Stock Buybacks: can do better to communicate with
UHAL), which are off 29% this year to Amerco fans say that, capital manage- None 300 investors and are attempting to do so.”
$515, look inexpensive, fetching just ment aside, Joe Shoen, 73, has ably Key Shareholders: Joe Shareholders might politely ap-
and Mark Shoen (43%) 200
nine times the earnings of $57 a share managed a great business over more plaud that effort. But buybacks and
2020 ’21 ’22
in its fiscal year that ended in March. than 35 years at the helm. A cost- Note: 2022 data for fiscal year ended March
fatter dividends probably would get
Amerco, however, can’t get Wall conscious leader, he earned $1 million Sources: Bloomberg; company reports; FacSet a standing ovation. B
 September 19, 2022 BARRON’S 23

FUND PROFILE Talking With Amy Zhang

Portfolio Manager, Alger Mid Cap Focus

A Relentless

.
ly
Focus on

on
Growth

us ,
l
e
al a
ci on
BY DEBBIE CARLSON

M
id-cap companies are usually defined as

er s
having a market capitalization of $2 billion
To reprint or license content, please contact Barron's reprints department at 800-843-0008 or www.djreprints.com

to $10 billion, but Amy Zhang prefers to

measure by revenue instead.
m er
As the portfolio manager of the $475
million Alger Mid Cap Focus fund (ticker:
AFOZX), Zhang looks for smaller mid-cap
m rp
companies—those with revenue of $500 million to $1
billion—that generate strong free cash flow and operate in
a field large enough to allow them to take market share.
For personal non-commercial use only. Do not edit or alter. Reproductions not permitted.

That enables shareholders to benefit from compounding

as the company grows. “To use a baseball analogy, these
co o

companies are in the third or fourth inning,” she says.

A no-load fund, Mid Cap Focus’ three-year annual-
F

ized return of 14.9% puts it in the top 10% of its peers,

handily beating the mid-cap growth category and the
Russell Midcap Growth index, net of the 0.68% annual
fee. It is sold largely through financial advisors and has
an investment minimum of $500,000. Mid Cap Focus A
shares (ALOAX), which are the same investment, are
now available for a $1,000 minimum and a 0.96% fee at
brokerages such as Charles Schwab and Fidelity. There
is a 5.25% initial fee.
n-

The fund has lagged behind the index in the past year,
as value stocks have held up better in a down market than
growth stocks. But Zhang is sticking to her guns, buying
beaten-up tech stocks that she regards as bargains.
no

Her differentiated investing approach comes from 20

years of managing both small- and mid-cap growth strat-
egies, including 13 years co-managing the Morningstar
gold-medalist Brown Capital Management Small
Company fund (BCSIX). She joined Alger in 2015 to
launch Alger Small Cap Focus (AGOZX), and in 2019
launched the four-star, Morningstar silver-medalist Mid
Cap Focus fund.
Zhang seeks firms with business models that produce

Photograph by CLARK HODGIN

 24 BARRON’S September 19, 2022

durable revenue growth with earnings visi-

bility, such as subscription models or com-
nology versus peers and the index this year.
Zhang describes it as an opportunistic move
Scoreboard: Hot and High
panies that supply critical components. She as she looks to “find the gems in the rubble” Still-hot inflation meant another ugly week for stocks, with the S&P 500 off 2.62% and real-estate
wants firms that can grab share and main- of this year’s tech selloff. She says several funds, exposed to higher rates, off 4.48%.Bonds were also down. A haven: energy MLPs, up 1.94%.
tain an advantage with time-saving or tech firms remain high-quality companies as One Week Year-to-Date
problem-solving products. their multiples contracted. U.S. STOCK FUNDS – 1.94% – 18.30%
TOP SECTOR / Energy MLP Funds 1.94 25.63
“These firms are valuable and differenti- One of the companies Zhang bought BOTTOM SECTOR / Real Estate Funds – 4.48 – 20.79
ated; they can have pricing power, which during the tech rout earlier this year was S&P 500 – 2.62 – 18.15
is very fitting in this market,” she says. CrowdStrike Holdings (CRWD), re- U.S. BOND FUNDS – 0.62 – 9.22
Bloomberg Barclays AGG Bond – 0.97 – 11.71
Strong managers are key, and Zhang establishing a position in the cybersecu-
looks for a “sort of yin and yang,” meaning rity firm after taking profits in late 2021. The Week's Top 25

.
firms that have a visionary CEO and a chief The first-quarter tech selloff made the Fund Investment Objective One Week Year-to-Date

ly
Am Beacon ARK TI Y / ADNYX GL Science/Tech 4.66% – 52.7%
financial officer focused on profitability, to firm attractive again from a long-term Rydex Energy Svcs Inv / RYVIX Natural Resources 3.36 21.3
balance growth and profitability. She shies perspective, she says. Morg Stan I Gl End I / MSJIX GL Sm/Mid-Cap 3.31 – 55.0
Eagle MLP Strategy I / EGLIX Energy MLP Funds 3.06 31.7
away from companies that aren’t focused She considers CrowdStrike an emerging

on
Quantified Pat Recog Inv / QSPMX Specialty Dvsfd Eq 2.95 – 19.6
or don’t have an efficient sales strategy. leader in the enterprise endpoint security Catalyst Energy Infr I / MLXIX Energy MLP Funds 2.90 33.2
Mid Cap Focus is a high-concentration market, an end-user device security sys- CBOE V Bitcoin SMV Inv / BTCLX Flexible Portfolio 2.84 – 42.3
WP Sm Co Inc+ Inst / WPSMX Equity Income 2.75 – 45.7
portfolio of about 50 names, and Zhang pre- tem. CrowdStrike is taking market share Invesco SP MLP A+ A / MLPLX Energy MLP Funds 2.72 40.5
fers to hold companies for three to five years, from companies such as Qualcomm Goldman Enrgy Inf P / GAMPX Energy MLP Funds 2.71 24.1

us ,
using intrinsic value as one reason to buy or (QCOM) and McAfee, she says. The Tortoise MLP&Pipe Inst / TORIX Energy MLP Funds 2.70 26.0

l
Cavanal Hill Wld En Inst / AIWEX GL Natural Resourc 2.68 31.0
sell. The three years since she launched Mid- cloud-based system is different than com-

e
Morg Stan Insight A / CPOAX Multi-Cap Growth 2.62 – 49.5

al a
Cap Focus have been volatile, leading to sig- petitors’ offerings, since once customers MainStay Cushing MLP I / CSHZX Energy MLP Funds 2.56 27.0
Jacob Small Cap Gro Inst / JSIGX Small-Cap Growth 2.54 – 43.5
nificantly more turnover than she’d like—as buy the system they often add additional Smead Intl Value I1 / SVXFX Intl Large-Cap Value 2.52 NA

ci on
much as 250% last year. services, creating durable revenue Footprints Discover Val / DVALX Flexible Portfolio 2.50 – 25.8
After Mid Cap Focus returned nearly streams. “It’s both a high-unit-growth and Fidelity Sel Energy / FSENX Natural Resources 2.46 49.9
Fidelity Adv Energy I / FANIX Natural Resources 2.45 49.5
85% in 2020, she sold several highflying expansion-of-wallet share,” she says. PGIM Jenn MLP Z / PRPZX Energy MLP Funds 2.44 23.1
names, including user-authentication com- Another recent tech addition is payroll- Goldman MLP En Infr P / GMNPX Energy MLP Funds 2.40 26.1
Hennessy Ener Trans Inst / HNRIX Natural Resources 2.35 40.3
pany Okta (OKTA) and videoconferencing service provider Paylocity Holding

er s
ProFunds Btcn Str PF Inv / BTCFX Alt Currency Strat 2.32 – 58.1
firm Zoom Video Communications (ZM), (PCTY). It competes against the likes of Au- Third Avenue Value Inst / TAVFX GL Sm/Mid-Cap 2.30 3.7
To reprint or license content, please contact Barron's reprints department at 800-843-0008 or www.djreprints.com

noting that “they really overshot their valua- tomatic Data Processing (ADP) and Pay- Invesco Energy A / IENAX Natural Resources 2.29 42.5

tions.” Mounting inflation and the Federal

m er
chex (PAYX) and currently has about The Week's Bottom 10
Reserve’s interest-rate-raising campaign 33,000 customers—compared with one mil- Fund Investment Objective One Week Year-to-Date
prompted other sales. lion combined for ADP and Paychex, she PSI Strategic Growth A / FXSAX Mix Tgt All Gro – 7.73% – 29.3%
Quantified STF Inv / QSTFX Flexible Portfolio – 7.69 – 43.4
The current market cycle favoring value notes. It is also expanding into human-capi-
m rp
Voya Russia A / LETRX Emerging Markets – 7.50 – 92.6
is hitting Mid Cap Focus’ year-to-date and tal management. Zhang hopes that Paylocity DoubleLine Real Est In I / DBRIX Real Estate – 5.39 – 23.4
one-year returns, down 28% and 33%, can be a long-term compounder, noting that Morg Stan US Focus RE I / MAAWX Real Estate – 5.34 – 21.9
Invesco Real Estate A / IARAX Real Estate – 5.33 – 19.3
respectively. The fund is in the bottom 10% it increased business during the pandemic. Goldman Real Estate P / GMJPX Real Estate – 5.25 – 22.3
For personal non-commercial use only. Do not edit or alter. Reproductions not permitted.

versus peers and is lagging behind the index. A number of the companies that Mid Amer Cent Real Est Inv / REACX Real Estate – 5.23 – 20.2
Sterling Cap Rl Est Inst / STMDX Real Estate – 5.19 – 21.7
Another reason for the fund’s weak Cap Focus owns have pricing power, which
co o

TIAA-CREF Real Est Inst / TIREX Real Estate – 5.12 – 24.0

performance is a slight overweight in tech- should mitigate inflation pressure. One ex-
The Largest 25
ample is Heico (HEI), a company with two
F

Assets 3-Year* 1-Week YTD

business units: a replacement-parts supplier Fund Investment (billions) Objective Return Return Return
Alger Mid Cap Focus for aircraft, and one for electronics for niche American Funds Gro A / AGTHX $104.7 Large-Cap Growth 10.0% – 1.34% – 25.8%
Total Return applications in aerospace and defense. As a Vanguard Wellington Adm / VWENX 92.7 Mix Tgt All Gro 5.8 – 1.71 – 14.9
YTD 1-Yr 3-Yr Federal Aviation Administration–approved American Funds Bal A / ABALX 92.1 Mix Tgt All Gro 5.4 – 1.56 – 13.5
Fidelity Contrafund / FCNTX 90.1 Large-Cap Growth 9.8 – 2.77 – 26.1
AFOZX -27.6% -32.8% 14.9% third-party parts supplier, Heico makes Dodge & Cox Stck I / DODGX Multi-Cap Value 11.1 – 1.29 – 10.0
80.1
Mid-Cap Growth Category -20.9 -21.3 9.5 parts 20% to 40% cheaper than original- Vanguard Tgt Ret2030 Inv / VTHRX 78.0 Mix-Asst Targ 2030 3.9 – 1.26 – 16.5
equipment manufacturers and is the largest Vanguard Tgt Ret2035 Inv / VTTHX 76.2 Mixed-Asset Target 2035 4.6 – 1.35 – 17.0
Top 10 Holdings in its category. FAA-approved aftermarket- American Funds Inc A / AMECX 76.1 Mix Tgt All Mod 5.5 – 1.24 – 9.5
Company / Ticker Weighting
parts suppliers represent only 3% to 4% of Vanguard Tgt Ret2025 Inv / VTTVX 75.1 Mixed-Asset Target 2025 3.3 – 1.15 – 15.6
n-

Natera / NTRA 4.2% American Funds Wash A / AWSHX 69.5 Large-Cap Value 9.2 – 2.02 – 12.1
the commercial aerospace aftermarket, pro-
PIMCO Income Inst / PIMIX 69.0 Multi-Sector Inc 0.8 – 0.82 – 8.1
Constellation Energy / CEG 3.9 viding a long runway for growth, she says. Fidelity SA US Tot Stk / FCTDX 66.1 Multi-Cap Core 10.9 – 2.44 – 17.9
Insulet / PODD 3.4 After the volatility of recent years, Zhang Vanguard Tgt Ret2040 Inv / VFORX 65.7 Mixed-Asset Target 2040 5.2 – 1.39 – 17.5
feels the portfolio is set up well. The compa-
no

Avantor / AVTR 3.2 American Funds ICA A / AIVSX 65.6 Large-Cap Core 8.4 – 2.08 – 17.7

Everbridge / EVBG 3.1

nies she owns have strong balance sheets American Funds EuPc R6 / RERGX 65.4 Intl Large-Cap Growth 1.3 – 0.79 – 26.3
and little need to tap capital markets for Vanguard Tgt Ret2045 Inv / VTIVX 61.0 Mixed-Asset Target 2045 5.9 – 1.44 – 18.0
Palo Alto Networks / PANW 2.8 American Funds CIB A / CAIBX 60.5 Global Equity Income 3.8 – 1.09 – 10.6
funding, shielding them from higher rates.
Bentley Systems / BSY 2.8 Dodge & Cox Income I / DODIX 58.0 Core Bond – 0.6 – 0.80 – 10.7
“I feel very good about the next one to American Funds FInv A / ANCFX Large-Cap Core 7.9 – 2.06 – 18.4
56.3
Diamondback Energy / FANG 2.8 three-plus years. I think most of the bad Vanguard PRIMECAP Adm / VPMAX 56.1 Large-Cap Core 9.2 – 2.62 – 17.2
KLA / KLAC 2.8 news regarding rates are priced in,” she Fidelity SA Core Inc / FIWGX 54.3 General Bond – 0.8 – 0.79 – 12.0

Alteryx / AYX 2.7 says. “Even smaller companies can grow in Fidelity Str Adv LgCp / FALCX 51.7 Large-Cap Core 0 – 2.38 – 17.0
a rising-rate environment, when you have Vanguard Div Gro Inv / VDIGX 51.6 Equity Income 9.8 – 2.42 – 9.8
Total 31.7% the strong balance sheets where you can be American Funds NPer A / ANWPX 49.4 Global Large-Cap Growth 8.5 – 1.51 – 25.4
Note: Holdings as of Aug. 31. Returns through Sept.12; three-year Vanguard Tgt Ret2050 Inv / VFIFX 48.8 Mix-Asst Targ 2050 6.0 – 1.49 – 18.1
returns are annualized. self-funded and you have some truly idio-
Sources: Morningstar; Alger
syncratic drivers.” B *Annualized 09/11/2019 to 09/15/2022. Through Thursday. Source: Lipper
 September 19, 2022 BARRON’S 25

I N C O M E I N V E ST I N G
Short-term bonds may finally produce positive
total returns for investors. Their yields are now
high enough to withstand some price pressure.

Short-Term Bonds
meet this coming week. Another rate he says. The spread on one- to three-
hike is expected in November, putting year investment-grade corporates was
the rate around 4% in December. recently about 75 basis points over
The futures market is expecting the corresponding Treasuries, putting

.
Yield 4%. Why They
fed-funds rate to peak at 4.4% in the yields in the neighborhood of 4.5%.

ly
first quarter, following a consumer “Over a three-year period, there is a
price inflation reading that came in lot of potential total return,” he says.
much hotter than expected in August. Mark Freeman, chief investment

on
Could Beat Cash.
Terminal rates of 4.75% or even 5% officer at Socorro Asset Management,
aren’t impossible, however, under a also likes short-term corporate debt.
range of scenarios: Inflation stays hot, “With risk-free rates in the 3.75%
the war in Ukraine continues to dis- range and high-quality corporates

us ,
rupt energy prices, or supply chains yielding in the 4.25% to 4.75% range,

l
don’t get back to normal, exerting it’s not a bad place to be in a volatile

e
al a
more upward pressure on prices. investment environment,” he says.
ntil recently, short- term yields may now be close to pric- “Really, what it comes down to is what Various mutual funds and ETFs

ci on
term bonds were a ing in the remainder of the Fed’s rate the average fed-funds rate will be for offer exposure to the shorter end of the
yield wasteland: A increases. With yields at nearly 4%, the next two years,” says Fitzgerald. yield curve. For pure Treasuries, the
two-year Treasury there’s far more of an income cushion The bond math does seem favor- $26 billion iShares 1-3 Year Treasury
note yielded 0.21% a against price declines. Investors may able for short-term notes. At a dura- Bond ETF offers broad diversification
year ago and just 1% also scoop up a bit more income than tion of two years, for instance, the at a low fee. It has an SEC yield of

er s
in January. Today, with cash proxies like money-market two-year Treasury note would lose 40 3.31% and an expense ratio of 0.15%.
To reprint or license content, please contact Barron's reprints department at 800-843-0008 or www.djreprints.com

the yield is around 3.9% and could funds, now yielding about 2%. basis points, or 0.4% in price, for an- For corporate bond exposure, con-
soon touch 4%, thanks in good mea-
m er “When you have a 3.75% yield, other 20 basis point rate increase by sider the $43 billion Vanguard Short-
sure to the Federal Reserve’s aggres- By Lawrence C. that’s much more manageable,” says the Fed. (A basis point is 1/100th of Term Corporate Bond ETF (VCSH),
sive interest-rate-hiking campaign. Strauss Cary Fitzgerald, head of short-dura- a percentage point.) Even if the Fed an index fund covering the broad mar-
The Fed’s work—trying to cool tion fixed income at J.P. Morgan were to raise rates by another 175 ba- ket. It sports an SEC yield of 4.22% and
m rp
down the economy and tame persis- Asset Management. sis points, the bonds could generate an expense ratio of 0.04%. The fund
tently high inflation—isn’t close to The risk still out there is the “ter- positive returns over their lifetime. is down 5.85% this year, after interest
finishing. Rates are expected to keep minal” federal-funds rate—the point Inflation data aren’t predictable, of payments, trailing 78% of peers. But
For personal non-commercial use only. Do not edit or alter. Reproductions not permitted.

rising into early 2023. Typically, that at which the Fed pauses its increases. course, but some bond managers say its razor-thin expense ratio has helped
would pressure bond prices, which Currently in a range from 2.25% to the market has largely priced in a ter- push it ahead of nearly 90% of rivals
co o

move inversely to yields. 2.5%, the fed-funds rate is expected minal fed-funds rate. BlackRock’s over the past 10 years, according to
But this could be a good entry point to rise sharply from here. The futures Miller thinks the two-year Treasury’s Morningstar. Its holdings as of July 31
F

for short-term bonds: They may not market sees a 75% chance of a three- yield embeds the rate peaking around included debt issued by blue-chip
fall much more, and yields are now quarter point hike when Fed officials 4.3% in the first quarter of 2023. “The names such as JPMorgan Chase
high enough to withstand some price two-year note looks like a reasonable (JPM), Bank of America (BAC),
pressure. “We are actually comfort- asset,” he says. “Is it screamingly and Goldman Sachs Group (GS).
able owning the front end of the yield Breaking Bonds cheap? No. But it’s no longer ridicu- Among the short-term investment-
curve here,” says Bob Miller, head of Short-term yields have surged, pushing down bond prices, as lously rich like it was a year ago.” grade bonds that Freeman holds in
Americas fundamental fixed income the Fed has raised interest rates. Tom Tzitzouris, head of fixed- client portfolios is one issued by
at BlackRock. income research at Strategas, says Home Depot (HD) that matures in
Two-Year Treasury Note Yield
Granted, this a wacky time for short-term yields are also now in the 2025 and has a yield to maturity of
n-

bonds. The yield curve is now in- 4.0% terminal ballpark. If that’s the case, he 4.25%. Freeman cites the retailer’s
verted: Most short-term bonds yield adds, “you’re basically going to clip “dominant market share, loyal cus-
3.5
more than long-term notes, such as your coupons in two-year Treasuries tomer base, and forward-thinking
the 30-year Treasury at 3.47%. The 3.0 because the market has already priced executive management team.”
no

upshot is that investors aren’t being in the tightening.” Also in his portfolio is a Phillips 66
2.5
compensated for holding long-term Opportunities in shorter-term (PSX) bond with a yield to maturity of
bonds. Quite the contrary: Yields are 2.0 bonds aren’t confined to Treasuries. 4.5%, and a bond issued by Target
lower, and duration risk—or sensitiv- 1.5
John Bellows, a portfolio manager at (TGT) maturing in 2025 with a yield to
ity to rates—is higher at the long end. Western Asset Management, likes maturity of 4.2%.
Short-term funds have racked up 1.0 investment-grade corporate debt, Assuming the Fed doesn’t get much
losses this year. The iShares 1-3 Year 0.5
which features both a yield compo- more hawkish, this rate cycle should
Treasury Bond exchange-traded nent and some income from the credit peter out in six months or less. As
fund (ticker: SHY), a proxy for Trea- 0 risk embedded in the bonds. these yields show, the short end of the
suries, is down 3.85%, after interest. Oct. 2021 ’22 “We have a widening in credit curve doesn’t always equate to the
Yet some analysts think that short- Source: Bloomberg spreads at the very front of the curve,” short end of the stick. B
 26 BARRON’S September 19, 2022 September 19, 2022 BARRON’S 27

Q&A An Interview With Jens Nordvig

Founder and CEO, Exante Data
“People have predicted the dollar’s demise every year—for the past 40 years.”
Jens Nordvig

Long Live the

and lifts interest rates further. Even bility. Different people are setting the more probability now, but that isn’t wholesale transfers [of money] to con-
after the August CPI, the market is agenda. [German economist and the case for China. We recently recom- sumers. I don’t think people realize
pricing in expectations that the Fed hawkish ECB board member] Isabel mended that clients book profits on how big of a structural shift is going
will pivot and cut rates later next year. Schnabel is now the de facto leader. long dollar trades versus a basket of on around China. One important indi-

.
What if the Fed must continue to The ECB is probably going to be more currencies, but still recommend going cator is foreign direct investment,

ly
move rates higher next year? That will decisive than people thought. long dollars versus the Chinese yuan. which has collapsed. That tends to be

Dollar, and Other

be a total shocker [for the markets]. a slow-moving variable, not a one-
How do you see Europe managing Can the dollar continue its move quarter type thing—but the shift tells

on
Should investors brace for more the energy crisis? higher? you that multinationals are feeling
dramatic moves? How quickly they can get alternative This could be the biggest year ever for overexposed to China.
We aren’t going back to 2019 anytime suppliers up and running, and how the dollar, bigger than the move in

Currency Calls
soon. Every time the economy was in well they can manage saving the cor- 2001, and there is a chance it beats its Investors are also worried about a

us ,
a bit of trouble, there were emergency rect industries [such as energy pro- 1980s performance. There are so structural shift toward deglobal-

l
facilities and zero rates and backstops. ducers], will be important in deter- many things supportive of the dollar: ization. Would that threaten the

e
al a
This time, we may have some bank- mining whether this is a huge crisis monetary policy, the view that the U.S. dollar’s dominance?
ruptcies. There are no monetary-pol- for a year or a multiyear crisis. Since economy can take more hikes than the People have predicted the dollar’s de-

ci on
icy safety nets. Investors might not the supply-and-demand balance is so market thought, and the U.S. becom- mise every year—for the past 40
want just to be [long] equity or credit. tight, any extra accident that disrupts ing a big energy exporter. Typically, years. Can you really have proper
BY RESHMA KAPADIA lows. Barron’s spoke recently with Maybe they want a lot of cash. You supply will have a much bigger impact the dollar collapsed when energy competition to the dollar from these

J
Nordvig about why markets might be can buy Treasury bills yielding 3% [than usual]. prices went higher. That has been other currencies, when their issuers
ens Nordvig grew up in Den- in for more pain, why it’s too early to without fees. In fixed income, you There are a lot of moving parts, flipped on its head, now that the U.S. have such severe problems? China still

er s
mark when the country was bargain-hunt in fixed income, and don’t want to get in too early. Wait including how cold the winter is and is going to be the biggest supplier of has a closed capital account and con-
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facing bankruptcy. In the fifth why the dollar is on track for its best until we have had a dramatic repricing when the French nuclear industry energy [gas] to Europe. trolled equity market; it doesn’t have

m er
grade, he started researching year ever. An edited version of our of the market, following the moves by kicks in after a hard time this summer free allocation of capital, and its
how a nation could find itself in conversation follows. the Fed—probably next year. When with a heat wave. What happens mili- China’s currency, on the other growth engine is collapsing. Europe
such a precarious financial po- will it be time to dive into European tarily will be important, too. We have hand, has declined sharply this [is facing] the biggest energy crisis it
sition, eventually giving his Barron’s: Let’s start with your big- and U.S. stocks? When you think the had dramatic developments around year. How bad is the situation in has seen.

m rp
classmates a presentation on picture view on the global economy. monetary-policy tightening cycle has Ukraine that give [Russian President China? Saudi Arabia has bought more U.S.
government and external debt. Jens Nordvig: It’s a whole new run its course. In the U.S., we need to Vladimir] Putin less leverage. If he is China has one of the biggest bubbles equities in the past three months than
Nordvig eventually became an macroeconomic regime. If we have see core inflation come down. Infla- losing territory quickly, it makes a in the world in its real estate market, ever before. Why? They want to have
For personal non-commercial use only. Do not edit or alter. Reproductions not permitted.

economist, and later, co-head of global inflation, central banks can’t have easy tion likely will moderate but stay cease-fire with conditions that which is imploding. That is a multi- a return on assets. Are they going to
currency research at Goldman Sachs policy; their job is to be tight. Every- above target, so we will see some fist- Ukraine can accept more possible. year problem. The banks aren’t going get it in China? No. Russia? Nope. If

co o
and a strategist at Nomura. He drew one grew used to an absence of infla- fighting within the Fed. to go under because they are mostly Saudi Arabia can see that Russia is
on these experiences, and a fascina- tion for 20 to 30 years. Now, we have How would markets react to a state-owned enterprises and will be going to lose [in Ukraine], they will

F
tion with macroeconomic policy, to inflation. Everyone thought the worst How high does the Fed need to cease-fire? backstopped. But it’s terrible for gravitate back to the euro and dollar
found Exante Data, a New York–based was over. Then, we got a reading on boost interest rates? That’s not our central case, but it has growth because the economy de- [for oil transactions]. There’s nothing
firm that analyzes data to help institu- the U.S. consumer price index [up We won’t see 75-basis-point [hikes] become more likely. Energy prices pended on the housing sector and in what I see that points to any chal-
tional investors navigate global mar- 8.3% in August from the year-earlier forever, but there may be a scenario in would ease and the euro would rally. construction. lenge to the U.S. dollar.
kets. He is the firm’s CEO. level] that showed it’s not. which the Fed hikes rates aggressively But that’s more for 2023 than in the On top of that, they have a Covid
Some clients balked at Nordvig’s We just saw the biggest equity-mar- this year, and then next year does a near term. It is hard to imagine [en- drag and [there are questions] about What is your most contrarian call
prediction that the European Central ket move ever on an economic data bunch of 25 basis-point hikes. [A basis ergy] prices collapsing, unless Russia whether it turns into a social and po- right now?
Bank would turn hawkish and lift point after the release of the August point is 1/100th of a percentage starts supplying gas again. It may do litical crisis. China had been growing Some emerging markets are safer than
interest rates meaningfully. But that CPI: a four-standard-deviation move point.] That’s not priced in. that next year, but it is hard to imagine for so long that it didn’t have a test of the [old] havens. There is a perception
call, reiterated during the year, now
looks prescient, after the ECB’s his-
toric 0.75 percentage point rate hike
and indications that it will tighten
[the Dow Jones industrials fell 1,300
points Tuesday]. People can’t get used
to this idea that inflation won’t last for
a couple of months, but rather a cou-
n- What is the path ahead for the
ECB?
Europe has probably had the biggest
it would do so this winter. For the next
six months, Europe will have a tricky
situation.
what happens if growth is zero—or
negative. [Chinese leader Xi Jinping]
isn’t going to get kicked out, but
maybe there are more diverse voices
that when the U.S. dollar is strong,
some emerging markets are in serious
trouble. We are seeing the opposite. In
the latest month of further dollar
no
further to tame inflation. Energy ple of years. The August CPI data energy shock ever—bigger than in the Yet, you aren’t as gloomy about that create political uncertainty. strength, the only currencies not weak-
prices in Europe have soared since showed that even if gas prices are 1970s. Europe’s energy bill has Europe as some others are. Why? ening are Latin American. LatAm [pol-
Russia’s invasion of Ukraine and Mos- coming down and commodities have jumped from 3% of gross domestic [Negative] sentiment was so extreme China’s policy makers have been icy makers] didn’t do experimental
cow’s halt of gas supplies to a major turned lower, goods prices still rose. product to 8% very quickly, and that that more positive scenarios should reluctant to take on more debt monetary policy, and started hiking
European pipeline. Inflation is broad-based. has taken the euro down. also be considered. The fact that needed for a massive stimulus rates when they sniffed inflation, and
Macroeconomic developments play The ECB will have to tighten ag- Ukraine is doing better militarily is a push. Will they eventually give in it’s helping. It’s an example of how ev-
out in currency markets, one of Ex- What is the biggest risk now for gressively because the inflation prob- positive. Europe’s policy initiatives to to help the economy recover? erything is different this cycle. Places to
ante’s specialties. Currencies have had markets and the economy? lem is so big—and not just with energy, cap prices, for example, are a positive. They overstimulated for so long and look include Mexico, Indonesia, maybe
an especially volatile year, with the That the Federal Reserve keeps going, but also wage inflation picking up. The There are positive developments had such excessive credit growth and South Africa, and Brazil.
U.S. Dollar Index rising 14% and the dovish camp within the ECB that es- from a bad starting point. Something overbuilding that there’s not much
euro and yen falling to two-decade Photograph by MARY KANG sentially drove policy has lost its credi- breaking the right way in Europe has they can do. They have to provide Thanks, Jens. B
 28 BARRON’S September 19, 2022

T E C H T R ADER
Barry O’Brien, head of tech M&A at Goldman
Sachs, said that buyers and sellers have never
been further apart on how to set deal prices.

Why Have Tech Deals

Strategic buyers have different is- first earnings report that fully re-
sues: They need to convince sharehold- flected the Cerner deal—and it had a
ers that using capital to make acquisi- big impact. On a currency-adjusted
tions is a good idea in the middle of an basis, Oracle had 23% revenue growth

Gone Away? Start

.
economic downturn. They also have to in the quarter to $11.4 billion, more

ly
convince skeptical sellers—and their than 12% of that from Cerner. Backing
boards—that the valuations they saw out Cerner, Oracle still grew 8%.
at the market peak last fall are, in fact, I’d argue that the biggest news was

With Leery Investors.

on
gone forever. Barry O’Brien, head of Oracle’s continued progress on its
tech M&A at Goldman, said during the shift to the cloud. CEO Safra Catz sees
session that buyers and sellers have the company’s cloud-based software
never been further apart on how to set and infrastructure businesses driving

us ,
deal prices. He noted that while buyers double-digit revenue and profit

l
want to be opportunistic, they also growth from here. Valuation is unde-

e
al a
worry how shareholders will react. manding, at 12 times forward profits

L
ast week, in the middle There is plenty of cash in private-eq- That’s a valid concern. Early versus 21 times for Microsoft (MSFT)

ci on
of the four-day Gold- uity funds, and there have been a Thursday, right on cue, Adobe and 28 times for Salesforce (CRM).
man Sachs tech confer- handful of tech buyouts in recent (ADBE) unveiled a deal to buy the Skepticism about the Oracle story
ence at the Palace Hotel months: In August, Vista Equity Part- collaborative design-tool provider remains high. But I see opportunity
in San Francisco, four ners inked an $8.4 billion deal to buy Figma for $20 billion in cash and knocking, giving investors a chance to
of the firm’s tech bank- tax-compliance software company stock. Adobe’s own entry in the space buy an improving story on the cheap.

er s
ers took to the stage to Avalara (ticker: AVLR), and Ping failed to gain traction; Figma shores

O
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discuss the state of its deal business. Identity (PING) snared a $2.8 billion up a weak spot. But the market hated ne of the great investor
Basically, they were there to explain
m er bid from Thoma Bravo. But otherwise, the deal, slashing Adobe’s stock price debates over the next 12
why they hadn’t been doing anything. By Eric J. Savitz the market has been eerily somnolent. by 17%, reducing the company’s mar- months will be what hap-
“And that’s why I’m short Goldman,” One reason is the higher cost of capi- ket cap by $30 billion. Ouch. pens to Apple (AAPL)
one fund manager whispered to me in tal. These are leveraged buyouts, and There are at least four reasons the shares, which will depend on demand
m rp
the middle of the session. rising interest rates raise the bar on Street is irritated. One, the deal is for the iPhone 14 that launched on
In the June quarter, Goldman’s in- required returns. alarmingly pricey: Adobe expects Friday. Morgan Stanley analyst Erik
vestment-banking revenue was down Figma to exit 2022 with $400 million Woodring wrote in a research note that
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41% from a year ago. And the com- in run-rate revenue, putting the valua- lead times for preorders suggest that
pany reportedly is planning a round tion at a lofty 50 times sales (100 times, the cycle is starting “stronger than
co o

of job cuts. That’s only logical: The if you use 2022 actual sales). Two, expected,” with a particularly long
deal market is closed, and for that you Adobe says it will take three years after wait for the top-of-the line iPhone 14
F

can blame a combination of falling closing before the deal adds to non- Pro Max. He reports that both China
stock prices, rising interest rates, an GAAP profits. Three, Adobe needs to and U.S. demand is “much better than
uncertain economic environment, and come up with $10 billion in cash to feared” given macroeconomic concerns.
a distinct lack of consensus among close the deal, which will mean a much But the early read isn’t the full
potential buyers and sellers on how slower pace of stock buybacks. And story. Bernstein analyst Toni Saccon-
deals should be valued. four, while Adobe raves that the Figma aghi thinks the Street’s December-
The easiest bit to explain is the deal will be “transformative,” the Street quarter estimates are too low, but he
lack of initial public offerings. With sees it as a defensive move. Writes also believes estimates for the Septem-
tech valuations down sharply since Bernstein analyst Mark Moerdler, ber 2023 fiscal year are too high. He’s
n-

the market peak in November, inter- “This was an acquisition driven by looking for total fiscal 2023 revenue
est rates still rising, and investors need and not opportunity.” growth of just 1% growth, on a 3% to
becoming more risk averse, the appe- Oracle (ORCL) offers another ex- 4% decline in iPhone revenue.
tite for new issues is nonexistent. ample. The enterprise-software com- Writes Sacconaghi: “We worry that
On Thursday, Adobe said
no

Buyers aren’t interested, and poten- pany’s shares are down about 30% Apple was a pandemic beneficiary,
tial issuers have no desire to sell since the announcement late last year whose fortunes could revert, particu-
stock into a market where valuations it would buy collaborative of a $28 billion deal for health IT com- larly in China, and forecast that
are still declining and the economy is pany Cerner. Oracle viewed the deal iPhone upgrade rates will slow follow-
sagging. While there are a slew of design-tool provider Figma as a fantastic opportunity to become a ing two strong years of sales.” Saccon-
venture-backed and private-equity major player in health IT, but inves- aghi also thinks iPhone 14 could trig-
financed companies that would love for $20 billion. The market tors have yet to be fully convinced. ger “a negative mix shift away from

Courtesy Figma
to tap the public markets, they are The deal also slowed an aggressive Pro offerings,” and adds that “Apple is
going to have to sit tight. promptly slashed Adobe’s stock-repurchase program, and ele- not immune to economic weakness.”
The light mergers-and-acquisitions vated Oracle’s debt position. Time to start thinking about
market is a little more surprising. stock price by 17%. Last week, Oracle announced its iPhone 15. B
 September 19, 2022 BARRON’S 29

THE EC ONOMY
Even a small pickup in the velocity of money at a
time when money supply is high could propel
prices even higher.

Forget a Fed Pivot.

One explanation for persistent Fed- and expectations. That is playing out.
pivot bets is the slowdown in the Au- Consider the 24% wage increase, and
gust producer price index that was $11,000 immediate payout, for loco-
reported a day after the CPI. The logic motive engineers and conductors in

.
Rates Will Stay High
is that decelerating wholesale prices the deal announced this past week to

ly
will flow through to consumers, au- avert a U.S. rail strike. And consider
guring softer CPI prints. But that as- the record decline in bank deposits in
sumption is flawed. the second quarter, a sign that house-

on
As Inflation Persists.
But “let’s talk about what is hap- holds are leaving less money in the
pening now, rather than what hap- bank and spending it more quickly.
pened to the PPI last month,” says Fourth, Deluard predicts a rise in
Richard Farr, chief market strategist the velocity of money as inflation

us ,
at Merion Capital. squeezes budgets, households keep

l
It’s futile to extrapolate from Au- less in the bank, and credit-card bal-

e
al a
gust PPI data when the prices for nat- ances rise. For context, the velocity of
he latest consumer- and RBC global energy strategist ural gas, diesel, corn, cotton, and lum- money is the number of times a dollar

ci on
inflation data Michael Tran says that a host of vari- ber this month are up 124%, 107%, is spent to buy goods and services per
helped firm up a ables—including the end of govern- 37%, 24%, and 19%, respectively, from unit of time. Rising velocity means
new consensus ment strategic-reserve drawdowns— their levels a year earlier. more transactions are occurring. Veloc-
around tougher present upside risks to oil. Another reason for persistent pivot ity plunged at the start of the pandemic
interest-rate policy Second, the labor shortage will con- expectations is the notion that more- as deposits surged and loans dropped,

er s
this year before the tinue to drive prices of services higher. aggressive monetary policy would but there are early signs of a coming
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Federal Reserve flips in 2023. But Fed Third, it will take about a year for conceivably bring about a faster and pickup, as inflation squeezes budgets
watchers might still be underestimat-
m er early signs of cooling shelter prices to deeper recession. If economists at and credit-card balances climb.
ing the inflation problem; they should By Lisa Beilfuss show up in inflation data, in which Deutsche Bank are right, and the Fed

E
bet on a rate plateau over a pivot. housing makes up a quarter to a third hikes to 5% by early next year, a ven a small pickup in velocity
When the Labor Department re- of major baskets. As Ashton of Endur- deeper-than-expected downturn is at a time when the money
m rp
leased its August consumer price in- ing Investments points out, all it inevitable. But it might not be so sim- supply is high could propel
dex, it left little doubt that inflation is would take to match prior highs in the ple this time, given how fast inflation prices higher. Deluard says
broad, sticky, and demand-driven. Con- CPI, excluding food and energy, is a is running and because of its nature. that such an advance would offset
For personal non-commercial use only. Do not edit or alter. Reproductions not permitted.

sider that the Federal Reserve Bank of 0.4% rise in September from August. Vincent Deluard, director of global downward pressure on the money
Cleveland’s median CPI, which drops Last month, core prices rose 0.6% macro strategy at StoneX Financial, supply from the Fed’s quantitative-
co o

outliers to measure underlying infla- month over month. outlines several reasons why the Fed tightening program.
tion, rose a record 6.7% from its read- has no choice but to remain hawkish, Rising loan-to-deposit ratios illus-
F

ing a year earlier. As Michael Ashton of at least through next year. trate Deluard’s point. Deposits are fall-
Enduring Investments notes, about Velocity Watch First, expectations for the central ing, while loans are growing by double
70% of the components in the CPI in- Because money supply is so high, even a small pickup in the bank to cut rates next year reflect digits at the major banks, and Deluard
creased at an annual pace greater than exchange of money could fuel inflation. what he calls “immaculate disinfla- calculates that a return to a pre-Covid
6% last month. In the decade before the Velocity of M2 Money Stock tion,” a scenario only possible if en- loan-to-deposit ratio of 75% would
pandemic, that share was 10% or less. ergy tabs keep falling. That is a tough require the issuance of about $2.5 tril-
Economists and investors now ex- 2.4 bet, given that they currently are lion in new loans from the big four U.S.
pect bigger rate increases at each of the driven by geopolitics at least as much banks alone. The trend is better for
Fed’s remaining three meetings this 2.2 as by economics. Domestic supply is small banks; Deluard notes that the
n-

year, starting with at least a 0.75 per- constrained, and reports suggest that loan-to-deposit ratio of the KBW Re-
centage-point boost on Sept. 21, and 2.0 the Biden administration may start gional Banking Index (ticker: KRX)
ending with a policy rate of 4% to 4.5% refilling the strategic petroleum re- recovered to 77% in the latest quarter
by early next year. Yet, traders are still 1.8 serve sooner than anticipated. from a low of about 70%.
no

betting on a quick Fed pivot, CME data Second, inflation isn’t just sticky, Sid Dinsdale, chairman of Pinnacle
show, with about half a percentage 1.6 but structural. A significant swath of Bancorp, says his bank’s loan-to-de-
point in rate cuts expected between workers are still missing from the posit ratio is finally starting to trend
next March and December. 1.4 labor force—and unfavorable demo- higher, rising to 69% from 66% last
This increasingly is folly. The latest graphics suggest that the problem isn’t year, as rising interest rates are only
CPI data undermine what has been the 1.2 going away—while the transition to cooling mortgage lending so far.
consensus view that the worst is over. green energy requires more resources Says Dinsdale: “The sky is clear,
First, the drop in headline infla- 1.0 for similar output. but a storm will come at some point.”
1975 ’80 ’85 ’90 ’95 2000 ’05 ’10 ’15 ’20
tion reflected falling energy prices. Third, persistent inflation begets The problem is that elevated inflation
But China’s reopening from Covid Note: Velocity of money is the number of times one dollar is spent higher inflation because the longer it is part of the storm—and may remain,
lockdowns will boost oil demand, to buy goods and services per unit of time. Source: Federal Reserve Bank of St. Louis lasts, the more it changes behaviors despite it. B
 30 BARRON’S Septemberr 19, 2022 BARRON’S 31

.
ly
on
us ,
l
e
al a
ci on
er s
To reprint or license content, please contact Barron's reprints department at 800-843-0008 or www.djreprints.com

m er
m rp
The middle can make
For personal non-commercial use only. Do not edit or alter. Reproductions not permitted.

co o
all the difference.

F
Missing the middle of anything leaves a pretty big hole.
And that’s especially true when it comes to the market.
See what owning a piece of the middle could do for you.
Make a portfolio complete with MDY. n- Scan to learn more
about MDY
no
Before investing, consider the funds’ investment objectives, risks, charges and expenses. To obtain a Investing involves risk including the loss of principal. Investments in mid-sized
companies may involve greater risks than those in larger, better known companies,
but may be less volatile in smaller companies.
ALPS Distributors, Inc. (fund distributor); State Street Global Advisors Funds
Distributors, LLC (marketing agent).
This communication is not intended to be an investment recommendation or
United States: State Street Global Advisors, 1 Iron Street, Boston, MA 02210-1641.
© 2022 State Street Corporation - All Rights Reserved.

prospectus or summary prospectus, which contains this and other information, call 1.866.787.2257 SPDR® S&P MidCap 400® ETF Trust, a unit investment trust, is listed on NYSE Arca, Inc. investment advice and should not be relied upon as such.

or visit www.SSGA.com. Read it carefully. Not FDIC Insured No Bank Guarantee May Lose Value 4334321.1.1.AM.RTL
 32 BARRON’S September 19, 2022

MARKET WEEK
September 12 through September 16, 2022

Euro Trader P. 35 Power Play P. 38

Emerging Markets P. 35 Charting the Market P. 39
Striking Price P. 36 Winners & Losers P. 40
Commodities P. 37 Market View P. 41
Inside Scoop P. 38 Statistics P. 42
13D Filings P. 38

.
ly
MARKET PERFORMANCE DASHBOARD

on
Dow Jones Industrials S&P 500 Nasdaq Composite FedEx

30,822.42
52-wk: -10.88% YTD: -15.18% Wkly: -4.13%
3873.33
52-wk: -12.62% YTD: -18.73% Wkly: -4.77%
11,448.40
52-wk: -23.90% YTD: -26.82% Wkly: -5.48%
$161.02
52-wk: -36.91% YTD: -37.74% Wkly: -22.98%

us ,
l
e
al a
5%

ci on
0
Happy Monday
Stocks rose for a fourth
Look Out Below -5
straight trading day on
August inflation data released Strike Averted

er s
Monday. All 11 sectors of the
S&P 500 closed in the green on Tuesday was not what U.S. freight railways avoided a Shipping News
To reprint or license content, please contact Barron's reprints department at 800-843-0008 or www.djreprints.com

-10
the bulls and the doves were labor stoppage on Thursday, Stocks dropped on Friday
as the overall index added
m er
1.1%. Energy stocks were the looking for. Major stock after the White House and over the prospect of tighter
best performers. indexes endured their worst unions reached a deal. A strike monetary policy from the
-15
selloff since June 2020. was estimated to cost the U.S. Federal Reserve. An earnings
m rp
The Nasdaq shed 5%. economy $2 billion a day. The warning from FedEx added
S&P 500 fell 1.1%. to the gloom. -20
For personal non-commercial use only. Do not edit or alter. Reproductions not permitted.

-25
co o

-30
F

Monday Tuesday Wednesday Thursday Friday Close

Source: Barron’s Statistics

F
rom a certain point guidance. All of this occurred the week tic when everyone is predicting the

THE TRADER onward, there is no

turning back. The stock
market reached that
before the Fed meets to discuss its next
rate increase, which is likely to be an-
other 0.75 percentage point.
worst. Sundial Capital Research’s Jason
Goepfert notes that less than 1% of the
stocks in the S&P 500 finished higher
point this past week. There is no avoiding, now, what is on Tuesday, something that has hap-
n-

Oh, the market was coming, and the stock market knows it. pened only 28 other times since 1940.
hopeful—entering the The Dow Jones Industrial Average fell The index gained an average of 15.6%

A ‘Super- week—that inflation had reached its

peak, that the Federal Reserve would
4.1% for the week, while the S&P 500
index dropped 4.8%, and the Nasdaq
over the following 12 months, and was
higher 79% of the time.
no

Oversold’ stop raising interest rates soon, that the

bottom was in. But Tuesday’s release
of August’s consumer-price-index data
By Ben Levisohn Composite plunged 5.5%.
“Investors are facing the reality
that the Fed has more work to do and
So, is this a buying opportunity?
Not so fast. Sometimes, the market
can become “super-oversold,” notes
Market showed that inflation hadn’t been
tamed and dashed all of the goodwill,
recession risk is high,” says Dave
Donabedian, chief investment officer
Doug Ramsey, chief investment officer
at the Leuthold Group. That can be a
Usually sending the major indexes to their
worst day since 2020.
at CIBC Private Wealth US. “We’re not
talking about putting more money to
prelude to further declines, as was the
case in 1998, before the Long-Term
Gets Worse Then, FedEx (ticker: FDX) decided
to tell investors—a week early, mind
work in equity markets. We’re preach-
ing patience.”
Capital Management tumble; in 1987,
before Black Monday; and ahead of the
you—that its earnings were terrible and That would seem to go against the worst selloffs of the 1973-74 bear mar-
that it was withdrawing its full-year maxim that it often pays to be optimis- ket. “Excessively oversold conditions
 September 19, 2022 BARRON’S 33

have preceded most of the market’s worst gained 9.7% this year, Keurig Dr Pepper
short-term collapses,” Ramsey explains. (KDP) has risen 0.8% and Coca-Cola (KO)
The odds of one are increasing. The Fed has advanced 0.6%, Spectrum Brands
looks hellbent on getting inflation under Holdings (SPB) has slumped 54%, Coty
control, and that could mean rates are going (COTY) has dropped 27%, and Newell
a lot higher. Where once investors worried Brands (NWL) has fallen 25%. Clearly,
about a terminal rate of 3.5%, now they’re
talking over 4%, or even 5%. And once the
Fed gets there, it’s likely to stay there rather
some staples stocks are safer than others.
But will they stay that way? A recession
may be on its way, but it is likely to be a dif-
Discover the ancient
than beginning to cut rates immediately.
Yet bear markets usually don’t end—and
ferent kind of recession than the ones expe-
rienced in 2001 and 2008 because of today’s wonders of Egypt

.
bull markets don’t start—until the Fed starts high inflation. That means investors should

ly
easing, according to Ed Clissold, chief U.S. be focusing on companies that have pricing
strategist at Ned Davis Research, and some- power and avoiding those with products that
times not until after the second rate cut. could be replaced with cheaper alternatives JJoin
Jo
Joi
oin Penta
Pen
enta
ta and
and
n Indagare
Indag
nd
dagar
are
are
e on a bucket
buc
ucke
cke
ket
et

on
When a bear market has ended before the or that consumers could quit, writes RBC
list-worthy
li
ist
s -w
worthy
y journey
j y to learn about
Fed has finished raising rates, a second bear analyst Nik Modi. The latter cohort includes
market usually occurs. “History argues that Altria Group (MO), which has “high expo- the
tth
he co
coun
country’s
untr
untry’
try s rich
r ch
ric hhistory
isto
ist ry
to y and
and m
marvel
arv
arvell
the tightening cycle will inflict more pain on sure to lower-income consumers,” and

us ,
the stock market,” Clissold writes. companies that can be replaced easily with a iits
at t iiconic
ts coni
conic
nic vi
vist
vistas.
stas
sta .
as

l
Even if that turns out to be wrong, it’s no private labels, such as Kimberly-Clark

e
al a
time to be a hero. Nordea Asset Management (KMB)—you don’t have to buy Kleenex—
strategist Sebastien Galy notes that investors Clorox (CLX)—there are alternatives to

ci on
should try to identify companies that are Glad trash bags—and Campbell Soup.
“attractively valued solutions with lower Instead, Modi recommends focusing on P E N TA X I N DAGA R E | C A I R O, L U XO R , & M O R E
downside risk that are resilient across a companies that aren’t threatened by private- NOVEMBER 311, 2023
multiplicity of scenarios and styles”—a long label options, have manageable costs, and 6 4 6 .7 8 0. 8 3 8 3 | I N DAGA R E .C O M / P E N TA E GY P T
way of saying quality stocks. “What we can aren’t reliant on lower-income shoppers. It

er s
strive for is to manage these complex risks also helps if they “have made investments in
To reprint or license content, please contact Barron's reprints department at 800-843-0008 or www.djreprints.com

and begin to position for the next few quar- their business to improve the organizational
ters at the right valuation,” he concludes.
m er
structure resulting in better business
Or simply wait it out. trends…and are driving pricing/promotional
strategies suitable for a period of economic
The Real Safe Stocks uncertainty,” Modi adds. Coca-Cola, Coty,
m rp
Recession risks are growing, and investors Keurig, and Constellation Brands (STZ)
are looking for safety. But not all safe stocks are among the stocks that fit the bill.
are created equal. Constellation looks particularly attractive.
For personal non-commercial use only. Do not edit or alter. Reproductions not permitted.

Take consumer staples. Their businesses The Corona beer importer is less focused on
tend to hold up better during recessions wine these days, and it never chased the
co o

because people will continue to buy food and hard-seltzer fad, as did Boston Beer (SAM),
other necessities even as they cut back on, which has tumbled 35% this year. At 20
F

well, everything else. That’s one reason that times 12-month forward earnings, the stock
the Consumer Staples Select Sector isn’t cheap, but it’s trading slightly below its
SPDR exchange-traded fund (ticker: XLP) five-year average of 21 times. Demand for
has dropped just 7.5% so far this year, far beer remains strong, too.
better than the S&P 500’s 19% decline. Just as important, Modi notes that Con-
Yet while Campbell Soup (CPB) has stellation learned from the last recession,

Vital Signs
n-

Friday’s Week’s Week’s Friday’s Week’s Week’s

Close Change % Chg. Close Change % Chg.
DJ Industrials 30822.42 -1329.29 -4.13 Barron’s Future Focus 824.90 -43.79 -5.04
DJ Transportation 12825.34 -1235.57 -8.79 Barron’s Next 50 2284.27 -124.56 -5.17
no

DJ Utilities 1012.86 -37.47 -3.57 Barron’s 400 893.95 -45.03 -4.80

DJ 65 Stocks 10460.85 -585.45 -5.30 Last Week Week Earlier
DJ US Market 950.02 -48.08 -4.82 NYSE Advances 630 2,432
NYSE Comp. 14573.91 -616.88 -4.06 Declines 2,836 1,000
NYSE Amer Comp. 4228.96 -33.83 -0.79 Unchanged 110 108
S&P 500 3873.33 -194.03 -4.77 New Highs 99 76
S&P MidCap 2380.28 -117.77 -4.71 New Lows 480 330
S&P SmallCap 1144.98 -48.71 -4.08 Av Daily Vol (mil) 4,945.7 3,971.6
Nasdaq 11448.40 -663.90 -5.48 Dollar (Finex spot index) 109.67 109.00 @2022 DOW JONES & COMPANY,INC. ALL RIGHTS RESERVED. 4E6031
Value Line (arith.) 8347.19 -432.35 -4.92 T-Bond (CBT nearby futures) 131-05 132-30
PHOTO CREDIT: INDAGARE
Russell 2000 1798.19 -84.66 -4.50 Crude Oil (NYM light sweet crude) 85.11 86.79
DJ US TSM Float 39038.34 -1967.87 -4.80 Inflation KR-CRB (Futures Price Index) 278.88 284.12
Gold (CMX nearby futures) 1671.70 1716.20
 34 BARRON’S September 19, 2022

Industry Action
Performance of the Dow Jones U.S. Industrials, ranked by weekly percent change.*

–0.35% Oil & Gas

–2.14 Health Care
–2.54 Consumer Goods
–2.60 Telecommunications
–3.30 Utilities

.
–3.69 Financials

ly
–3.93 Consumer Services
–4.44 Industrials

ENERGY SECTOR OF
–5.68 Basic Materials

on
–6.05 Technology

THE S&P 500 IN ONE ETF Source: S&P Dow Jones Indices

us ,
l
when it let the gap in pricing between Co- maker Philip Morris International (PM),

e
al a
rona and its competitors get too wide, to the auto-parts seller O’Reilly Automotive
Visit www.sectorspdrs.com or call 1-866-SECTOR-ETF
detriment of sales, and has changed its strat- (ORLY), Conagra Brands (CAG), Dollar

ci on
egy. In recent years, the company has been Tree (DLTR), health-insurance providers
An investor should consider investment objectives, risks, charges and expenses carefully before investing. To obtain a raising prices in small, consistent incre- Humana (HUM), and UnitedHealth
prospectus, which contains this and other information, call 1-866-SECTOR-ETF or visit www.sectorspdrs.com. Read the ments. Constellation should be able to main- Group (UNH), agricultural-chemicals
prospectus carefully before investing. tain the strength of its brands in a way that company FMC (FMC), aerospace and
All ETFs are subject to risk, including possible loss of principal. Sector ETF products are also subject to sector risks and non-diversification risks, which generally should last through a recession. defense giant Raytheon Technologies

er s
results in greater price fluctuations than the overall stock market. Ordinary brokerage commissions apply. We’ll see if it works this time. (RTX), and utilities NRG Energy (NRG)
To reprint or license content, please contact Barron's reprints department at 800-843-0008 or www.djreprints.com

The S&P 500 is an index of 500 common stocks that is generally considered representative of the U.S. stock market. You cannot invest directly in an index. and Edison International (EIX).
A Broker’s Dozen
m er
ALPS Portfolio Solutions Distributor, Inc., a registered broker-dealer, is distributor for the Select Sector SPDR Trust. Those 12 stocks have seen their P/E ratios
Call this a throw-the-baby-out-with-the- decline about 21% on average from about 17
bathwater market. times next year’s estimated earnings to just
When the S&P 500 tumbled this past above 13 times. Not much seems to be wrong
m rp
Tuesday, after August inflation came in hot- with them, however. Their earnings growth
ter than expected, 495 of the index’s stocks is expected to average about 7% in 2023,
dropped. But the problem is deeper. Some compared with 2022, and is expected to be
For personal non-commercial use only. Do not edit or alter. Reproductions not permitted.

382 stocks in the index are down so far this positive for all but NRG. And despite the
year, and only about 80 that are up aren’t in slide in valuations, none of the 12 has seen
co o

the energy or utilities sectors. Overall, the 2023 earnings estimates lowered in the past

The blue checkmark of S&P 500 has seen its price/earnings ratio six months—indeed, analysts have raised
F

collapse to 15.8 times estimated next year’s them by an average 4% over that span.
earnings, from 19.9 times at the start of 2022. Things could be worse. The dozen stocks

the financial universe.

Many stocks would seem to be trading at are, on average, flat in 2022. Still, their
attractive levels, but looks can be deceiving. prices haven’t kept up with earnings—
Intel shares (INTC), for instance, were which is why their P/E ratios are down.
trading for as high as 15 times estimated Of the 12, Raytheon, UnitedHealth, and
2023 earnings earlier this year. Now, they Humana are the most popular on Wall
Barron’s Advisor Finder tool matches our ambitious readers trade for just 11.5 times, a small discount Street, with analyst Buy-rating ratios above
with your financial expertise. Get found, meet prospective to their recent history. That looks attractive, 80%. The average Buy-rating ratio for a
n-

clients and let Barron’s help grow your business. but 2023 earnings estimates for Intel have stock in the S&P 500 is about 58%. The least
fallen more than 60% over the past six popular stocks with analysts are IBM and
months, as the company struggles with Conagra, with Buy-rating ratios below 40%.
bringing new chip technology to market. Outside of the utility stocks, Humana
no

Apply today at
The P/E multiple contraction looks at least looks like a good bet. Shares trade for about
Barrons.com/advisorfinderapply partially warranted. 18 times estimated 2023 earnings, a pre-
But Barron’s found a dozen stocks in the mium to the market, but close to where
S&P 500 that have seen P/E ratios contract shares have traded for the past couple of
even though business fundamentals don’t years. What’s more, Humana believes that
look all that bad. These 12 stocks might be it can make $37 a share in 2025, implying
new opportunities for investors looking for earnings growth of about 14% a year on
bargains in the difficult 2022 market. average between now and then.
The dozen also include many household If Humana hits its goals, the stock should
names. They are, in no particular order: work no matter what is going on in the
© 2022 Dow Jones & Company, Inc. All rights reserved. 2E276
IBM (IBM), CVS Health (CVS), cigarette broader economy. — Al Root
 September 19, 2022 BARRON’S 35

EUROPEAN TRADER E M E R G I N G M A R K E TS
Ryanair Is Miles Ahead China’s Xi to Putin: Our
Of Its Competitors Friendship Has Limits

.
ly
on
By Rupert Steiner analyst at Peel Hunt, observes that the By Craig Mellow United Kingdom dominate worldwide.
stock could rise 46.6%, to €18, and says China could, in theory, pick up some

A V
irlines have taken a one-two that the airline continues to increase its ladimir Putin could certainly of the slack. But it already buys most of

us ,
punch, with the pandemic cut- market share. use a powerful, strategic friend- the crude shipped from Russia’s Pacific

l
ting global travel, and labor Ryanair is targeting 166.5 million pas- ship with “no limits,” the kind ports, and is ill-positioned to import from

e
al a
shortages and spiraling fuel costs sengers for 2023, versus the 97.1 million Xi Jinping promised in Febru- the bigger European terminals, Kennedy
crimping profits. recorded in its 2022 annual report. “We ary, three weeks before Putin invaded says. Beijing’s transport fleet is weighted

ci on
But Ryanair Holdings, Europe’s larg- see recent weakness as an excellent buy- Ukraine. toward supertankers that can’t sail
est airline by passenger numbers, stands ing opportunity for a group with solid That isn’t what he got when the two through the Black Sea or the Baltic. “Any
out from the pack, having hedged 80% of growth potential,” Paterson writes in a leaders met this week in Uzbekistan, at a incremental barrel will have to come
its fuel until early next year, protecting note. The Dublin-based airline has 90 summit of the regional Shanghai Cooper- from Europe, but on whose boat?” he
itself from price volatility. It also stuck bases in 36 countries, with a focus on ation Organization. asks rhetorically.

er s
with much of its workforce when others Europe, and a stock-market value of Xi has put substantial limits on Russia and China are fated to be allies,
To reprint or license content, please contact Barron's reprints department at 800-843-0008 or www.djreprints.com

reduced headcount to save costs. These €14.1 billion. It flies 483 Boeing 737s and China’s support for Russia’s Ukrainian notes Alexander Gabuev, a senior fellow
moves put Ryanair in a strong position to
m er
29 Airbus A320s, with 137 Boeing 737s adventure. He has obeyed the West’s re- at the Carnegie Endowment for Interna-
benefit from a rebound in travel. on order. taliatory sanctions without endorsing tional Peace. They have a 2,500-mile land
The stock (RYA.Ireland), which also The company fetches a multiple of 11.6 them. He has lapped up Russian oil at border, complementary economies, and,
has American depositary receipts (RY- times this year’s expected earnings and is discounts around 25%, but showed no of course, a common rival in the U.S. De-
m rp
AAY) trading on the Nasdaq, has valued at a 10% discount to its peers. interest in buying the assets that global spite its failures in Ukraine, Moscow also
plunged, along with its peers, losing Ryanair posted a pretax loss of €430 mil- energy majors such as BP (ticker: BP) has military technology that Beijing
21.45% over the past year, to 12.79 euros lion for the year to March 2022, which was Shell (SHEL), and TotalEnergies (TTE) wants, such as fighter jets and hyper-
For personal non-commercial use only. Do not edit or alter. Reproductions not permitted.

($12.85). The dip could be an excellent narrower than its €1.1 billion shortfall in are divesting within Russia. sonic missiles, he says.
buying opportunity. The Stoxx Europe 2021. Total 2022 revenue was €4.8 billion, Putin acknowledged as much in terse Cooperation on the ground has gone at
co o

Total Market Airlines Index is down significantly above 2021’s €1.6 billion. remarks before the sit-down in historic a snail’s pace, however. Putin announced
23.4% over the same period. A Ryanair spokesperson tells Barron’s Samarkand. He thanked China for its a pivot to Asia for Russian energy re-
F

Ryanair, like almost all of its rivals, that the company is operating a “full “balanced” position on Ukraine, and sources in 2014, after his first invasion of
saw travel fall off a cliff in the past two schedule of 3,000 daily flights this sum- pledged to address his counterpart’s Ukraine. Last year, the Power of Siberia
years, due to Covid-related lockdowns. mer, unlike many other airlines that have “questions and concerns.” pipeline delivered all of eight billion cubic
Just when passenger numbers were pick- failed to plan adequately for the return of The lukewarm embrace reflects meters of natural gas to western China.
ing up, Russia invaded Ukraine, and re- travel, post-Covid. We kept our pilots and China’s behind-the-scenes discomfort Exports to Europe were around 150
lated sanctions reduced fuel supplies and cabin crew current throughout the pan- with Russia’s aggression, says Maria Sha- BCM.
disrupted Eastern European routes. demic, and as a result remain able to gina, a sanctions scholar at the London- Power of Siberia should reach 38 BCM
The industry has also suffered self-in- meet pent-up customer demand.” based International Institute for Strategic over the next few years, says Anne-So-
flicted pain. Airports and some carriers Ryanair’s fuel hedge locked in a price Studies. “China is interested in shaking phie Corbeau, a scholar at Columbia Uni-
n-

let too many workers go during the pan- around $65 a barrel for 80% of its needs up the world order, but not in Russia’s versity’s Center on Global Energy Policy.
demic and now can’t recruit fast enough until the first quarter of 2023. This not way,” she says. Power of Siberia 2 could add another 50
to handle the spike in demand. only sets it apart from its peers, but also It also reflects Russia’s paltry leverage, BCM a decade from now.
Gerald Khoo, an analyst at broker Libe- presents an opportunity. being stuck in slow-growth resource de- That project remains on the drawing
no

rum, writes in a client note that Ryanair Liberum’s Khoo writes: “Counterintui- pendency while China has emerged as an board, however, as the two sides wrangle
benefited from an early commitment to tively, higher fuel prices may cause Ryan- economic and technological superpower. over the end point. Moscow wants to
growth: “It chose to keep flight crews and air to add more capacity to exploit its “What Putin has to give is cheap oil. extend it to eastern China, so it has the
aircraft current and operational through strong fuel-hedging position...and antici- That’s about it,” says Craig Kennedy, an future option of shipping to Japan or
the pandemic. Not only did this mean its pated capacity cuts by competitors.” associate at Harvard’s Davis Center for South Korea. Behind those details lurk
own staffing levels were in the right place Ryanair also has a strong balance Russian and Eurasian Studies. more fundamental considerations, Cor-
for the surge in volumes that has come sheet, and in a high-interest-rate environ- That cheap oil remains a global X fac- beau says: “Does China want to become
through, but also it gave its suppliers and ment where other airlines are heavily tor for the months to come. The Euro- more dependent on Russia? Does Russia
partners the confidence to make similar leveraged, it doesn’t need to refinance pean Union is scheduled to stop import- want to become a satellite of China?”
commitments themselves.” forthcoming bond maturities because it ing Russian oil on Dec. 5 and ban oil- The friendship, in other words, is find-
Others agree. Alexander Paterson, an has sufficient liquidity, Khoo says. B tanker insurance, a market the EU and ing its limits. B
 36 BARRON’S September 19, 2022

T H E ST RIKING PRIC E
Investors are better off trying to use time to their
advantage than trying to time the market, says
options strategist Michael Schwartz.

A Strategy to Protect Equity Options

CBOE Volatility Index The Equity-Only Put-Call Ratio

Against Falling Stocks

.
VIX Close VIX Futures Put-Call Ratio S&P 500 Index

ly
38 265

220

on
30
175
By Steven M. Sears The “half and half” strategy offers a dif-
ferent way to manage risk and potential

T
130
he Tower of Babel has nothing returns. Investors who want to buy stocks 22

us ,
on Wall Street. but are worried about the price declining 85

l
On any given day, the Street’s can buy half as much stock as desired,

e
al a
pundits and marketing machin- while selling puts on the other half to 14 40
ery extol and decry so many potential risks potentially buy more at lower prices. O N D J F M A M J J A S O N D J F M A M J J A S

ci on
and rewards that it’s often impossible to Consider Hormel Foods (HRL). The Daily Values Source: CBOE Source: McMillan Analysis Corp.
make sense of the passing scene. maker of Spam has a reputation for doing
On Monday, stocks rallied higher, and well when times are challenging. When
investor sentiment was broadly positive. people try to save money, that often bene- SPX Skew NDX Skew
But Tuesday’s release of the consumer price fits less costly foods. Implied volatility % Implied volatility %

er s
index wasn’t the Happy CPI Day touted by With Hormel at $45.79, investors could 15% 13%
To reprint or license content, please contact Barron's reprints department at 800-843-0008 or www.djreprints.com

some pundits. The economic report was buy 500 shares and sell five January $41
worse than expected, and stocks plunged
m er
puts for about 80 cents. The strategy obli-
14
12
because the Federal Reserve now lacks any gates one to buy stock at an effective price of 13
pretense for reducing the pace of interest- $40.20. During the past 52 weeks, Hormel’s 12 11
rate increases. stock has ranged from $40.48 to $55.11.
m rp
Late on Thursday, the mood darkened Michael Schwartz, Oppenheimer’s chief 11 10
even more when FedEx (ticker: FDX) options strategist, says that investors are 10
suspended earnings guidance, which in- better off trying to use time to their advan- 9
9
For personal non-commercial use only. Do not edit or alter. Reproductions not permitted.

vestors around the world took as a sign tage than trying to time the market. “Many
of a global recession. investors are confused about what comes 8 8
co o

Inflation—as everyone who buys grocer- next, so using strategies that help monetize O N D J F M A M J J A S O N D J F M A M J J A S
ies knows—is still a major problem. For uncertainty is a way for long-term investors Source: Credit Suisse Equity Derivatives Strategy Source: Credit Suisse Equity Derivatives Strategy
F

people who live in the finance bubble, take to potentially profit,” he says. Skew indicates whether the options market expects a stock-market advance or decline. It measures the difference between the implied
volatility of puts and calls that are 10% out of the money and expire in three months. Higher readings are bearish.
heed of Goldman Sachs. The bank is These strategies are ways for investors
expected to start reducing staff to reflect to engage in what we have long called
the current environment. “time arbitrage.” Investors who are com- Week’s Most Active
So far this year, we have detailed a few fortable with options can use puts and Company Symbol Tot Vol Calls Puts Avg Tot Vol IV %ile Ratio
Regulus Therapeutics RGLS 4714 4554 160 100 32 47.1
different approaches to navigating this calls to take advantage of short-term vola-
Akero Therapeutics AKRO 58680 13011 45669 1616 98 36.3
transitional time in the market. tility in anticipation that tomorrow may be Hasbro HAS 93887 10269 83618 3252 55 28.9
We advocated selling call options on less dramatic than today’s challenges. Throughworks TWKS 15717 15625 92 760 13 20.7
stocks to enhance yields. We suggested Anyone who considers this approach is EOS Energy Enterprises EOSE 36507 34989 1518 2036 97 17.9
n-

Helix Energy Solutions HLX 10441 4399 6042 636 19 16.4

watching the Cboe Volatility Index and likely to have better outcomes than those Rent the Runway RENT 17308 13742 3566 1060 88 16.3
selling put options on blue-chip stocks who try to game single economic reports Lilium LILM 16121 15980 141 1036 99 15.6
when the VIX hits 30 to take advantage or simplistic views of technical analysis. Mattel MAT 89357 11726 77631 5968 34 15.0
Arconic ARNC 13603 12081 1522 1180 91 11.5
of extreme fear. Play the long game. Trade the market
no

Puma Biotechnology PBYI 4059 3951 108 396 100 10.3

We urged investors to “buy the dips and that you have, not the one that you think Planet Labs PL 22627 19688 2939 2196 1 10.3
sell the rips” to take advantage of any short- exists. Be a realist. Manage your risk. Ig- ImmunityBio IBRX 13597 10882 2715 1364 41 10.0

term rallies that might occur as the Fed nore noise and focus on well-run compa- Royalty Pharma RPRX 5426 5366 60 540 8 10.0
Milestone Pharmaceuticals MIST 4452 1732 2720 460 100 9.7
normalizes monetary policy. We advocated nies, especially when current financial Avalara AVLR 8381 8041 340 932 0 9.0
hedging portfolios when it wasn’t expensive conditions are bullying their stock prices. B Braze BRZE 2096 621 1475 244 32 8.6
and stocks were higher. Compass Minerals CMP 4580 4216 364 540 90 8.5
Altice USA ATUS 82482 39042 43440 10828 89 7.6
Rather than climbing aboard the noise Steven M. Sears is the president and chief oper-
Arqit Quantum ARQQ 7265 6201 1064 964 96 7.5
machine that is often wrong but never in ating officer of Options Solutions, a specialized
doubt, options investors can monetize asset-management firm. Neither he nor the firm This table of the most active options this week, as compared to average weekly activity – not just raw volume. The idea is that the unusually heavy trading in these options might be a predictor of
corporate activity – takeovers, earnings surprises, earnings pre-announcements, biotech FDA hearings or drug trial result announcements, and so forth. Dividend arbitrage has been eliminated. In
short-term volatility in a variety of ways has a position in the options or underlying securi- short, this list attempts to identify where heavy speculation is taking place. These options are likely to be expensive in comparison to their usual pricing levels. Furthermore, many of these
situations may be rumor-driven. Most rumors do not prove to be true, so one should be aware of these increased risks if trading in these names
to express long-term investment themes. ties mentioned in this column. Ratio is the Tot Vol divided by Avg Tot Vol. IV %ile is how expensive the options are on a scale from 0 to 100. Source: McMillan Analysis
 September 19, 2022 BARRON’S 37

COMMODITIES
state of schizophrenia.” He also said that would lead to more oil on the mar-
that OPEC+ is determined to make ket. Oil traders ought to pay close atten-
a new agreement beyond this year tion to “energy-policy changes across
“more effective than before.” Europe, the way big oil companies are
Following his comments, OPEC+— paying management teams to focus on
comprising members of the Organi- profitability and not increase volumes,
zation of the Petroleum Exporting [and] ongoing discussions from

Worries About Oil Prices Countries and their allies, including

Russia—decided to cut production by
100,000 barrels a day for October,
OPEC+,” says Marcus McGregor, direc-
tor of investment research at institu-
tional investment manager Conning.

May Be Overblown reversing the increase of 100,000 There’s another thing traders should

.
barrels a day for September. keep in mind: “Commodity markets, oil

ly
However, many analysts don’t or otherwise, have never been predict-
believe that there’s any disconnect or able, and they never will be,” says Pavel
distortion in the market. “The current Molchanov, analyst at Raymond James.

on
oil-trading market is functioning well The oil market is in a state of back-

B
elieve it or not, there is some benchmark West Texas Intermediate oil By Myra P. and not suffering from distortions,” wardation, where futures prices trade
sanity to the chaos in oil on March 8 saw futures prices settle at Saefong says Vikas Dwivedi, Macquarie Group’s below the spot market, reflecting the
prices, which have climbed their highest since 2008, with Brent at global oil and gas strategist. “The mar- expectations that the war in Ukraine

us ,
this year to their highest $127.98 and WTI at $123.70 a barrel. ket has had to deal with more binary will end, he says. Still, it’s clear this

l
since 2008, only to fall back to their Both have retreated from those levels, events over the past two years than just conflict will continue “well into 2023.”

e
al a
lowest in eight months. with prices marking their lowest settle- about any period we’ve seen,” contrib- Raymond James estimates that
“The market is overreacting to fears ments since January, with Brent at $88 uting to unpredictability, he says. Russian oil exports have fallen by

ci on
due either to expected tightness in and WTI at $81.94 on Sept. 7. Supply risks from the Russia- 500,000 barrels a day since February,
supply or, as is currently the case, to Saudi Arabia’s energy minister, Ukraine war and talk of underinvest- so the European Union’s embargo
worries about weaker oil demand due Prince Abdulaziz bin Salman, told ment in oil production have helped against Russian oil, which takes effect
to the threat of recession,” says Ann- Bloomberg last month that the “paper support oil prices, while pressure on at the end of 2022, should not be under-
Louise Hittle, vice president of macro and physical [oil] markets have prices has come from China’s Covid estimated, he says. As long as the war

er s
oils at Wood Mackenzie. “This has become increasingly more discon- lockdowns, strategic-oil-reserve re- drags on, Russia will be “the No. 1
To reprint or license content, please contact Barron's reprints department at 800-843-0008 or www.djreprints.com

triggered a sharp pullback in prices.” nected” amid extreme volatility and leases from industrialized nations, and source of uncertainty vis-à-vis oil
Global benchmark Brent and U.S.
m er
lack of liquidity. “The market is in a the potential for an Iran nuclear deal supply,” Molchanov says. B
m rp
For personal non-commercial use only. Do not edit or alter. Reproductions not permitted.

co o

GET FREE ACCESS

F

TO MARKETSMITH
n-
no

SEPTEMBER 12TH - 18TH investors.com/msfreeaccess

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 38 BARRON’S September 19, 2022

IN SIDE SC OOP Original Filings POWER PLAY

iRobot (IRBT)
Magnetar Capital initiated a
stake in the cleaning-robot maker
Activists
equal to 5.3% of its outstanding
Ready to
Shopify CEO Bought More
stock. From Aug. 5 through Sept.
8, Magnetar bought a total of
1,437,824 iRobot shares at prices
ranging from $58.60 to $59.49 Pounce

.
apiece. Magnetar also sold 781

Coinbase Global Stock

ly
shares on Aug. 11 and Aug. 12
at per share prices ranging from BY CARLETON ENGLISH

T
$59.73 to $59.96. Overall, Magnetar

on
now holds 1,437,043 iRobot shares. his year’s market volatil-
Magnetar took a stake in iRobot as ity has wounded many
BY ED LIN through an investment vehicle that an arbitrage play, as Amazon.com portfolios, but it probably

S
now owns 54,583 Coinbase shares. (AMZN) announced on Aug. 5 that has activist investors and

us ,
hopify CEO Tobi Lutke Lutke owns 522 more Coinbase shares it intends to acquire iRobot for $61 bankers licking their

l
continued to buy Coinbase in a personal account. per share in cash, valuing the com- chops for the coming

e
al a
Global stock this month. Shopify (SHOP) didn’t respond to Shopify CEO Tobi pany at $1.7 billion. proxy season.
Lutke, who is also a a request to make Lutke available for Lutke bought $1.5 “We would not be surprised if

ci on
director of cryptocurrency comment. He founded the online- million worth of activists uncovered opportunities
exchange Coinbase (ticker:
COIN), isn’t directly punch-
shopping platform.
Before his latest purchases, Lutke
more shares of
cryptocurrency Increases in that might not have been as appar-
ent before the correction,” wrote
ing in the trades. He set up an auto-
mated Rule 10b5-1 trading plan in late
bought $746,436 of Coinbase stock in
two transactions earlier in August.
exchange Coin-
base, which he Holdings FTI Consulting analyst David Far-
kas and his colleagues in a recent

er s
May. The plans are meant to remove Coinbase stock has plunged some serves as a report. To date, the S&P 500 index
To reprint or license content, please contact Barron's reprints department at 800-843-0008 or www.djreprints.com

any potential bias an insider may have 70% so far this year, hurt by the tum- director. MasterCraft Boat Holdings is down about 18%, and Wall
from knowledge of nonpublic infor-
m er
bling valuations of Bitcoin and other (MCFT) Street expects to see earnings
mation. After an insider sets parame- cryptocurrencies. But one observer is Coliseum Capital lifted its stake in growth of a mere 5%, according to
ters such as price and timing, the plan slightly more upbeat on the shares. the powerboat maker to 1,795,399 Bloomberg data—making it easy
automatically executes transactions. This past week, J.P. Morgan analyst shares. On Sept. 8, Coliseum Capi- for activists to separate winners
m rp
From Aug. 23 through Sept. 13, Kenneth B. Worthington raised his tal purchased 125,000 MasterCraft and losers.
Lutke’s plan paid $1.5 million in four price target on Coinbase stock to $78 shares at prices ranging from Not only do activist hedge funds
transactions for a total of 21,130 Coin- from $64. The company has “substan- $20.16 to $20.92 each. After the see opportunity, but they are also
For personal non-commercial use only. Do not edit or alter. Reproductions not permitted.

base shares, an average price of $68.85 tial revenue opportunity that origi- fresh investment, Coliseum now well capitalized, sitting on an esti-
each, according to forms he filed with nates from higher interest rates,” the holds 9.9% of MasterCraft’s trad- mated $200 billion ready to deploy.
co o

the Securities and Exchange Commis- analyst wrote. Worthington kept a able stock. Also, thanks to recent changes to
sion. The purchases were made Neutral rating. B proxy voting, activists should have
F

an easier time getting at least one

Decreases in candidate on a target’s board.

Some sectors look particularly

Activist Holdings board but will serve as consultants

through the end of the year. Brian
Holdings vulnerable to activism, according
to FTI, a global business advisory
firm based in Washington, D.C.
Adams, Tabula Rasa’s co-president, Advanced Drainage Airlines may be most exposed,
Tabula Rasa Healthcare will serve as interim CEO, and direc- Systems (WMS) thanks to persistently bloated
(TRHC) tor Michael Purcell has been ap- These disclosures are Berkshire Partners reduced its costs, followed by smaller banks
n-

from 13Ds filed with

Indaba Capital Management pointed independent chair. Two In- the Securities and interest in the drainage-systems and telecommunications firms.
revealed a 24.5% stake in the daba Capital representatives, Jonathan Exchange Commission. company to 3,436,377 shares. Berk- Activists aren’t the only ones
13Ds are filed within
pharmacy-services company. On Schwartz and founder Derek Schrier, 10 days of an entity’s
shire Partners sold 754,720 Ad- likely to be busy this proxy season.
Sept. 13, Indaba Capital and Tabula replaced the Knowltons on the board. vanced Drainage shares on Sept. 7 Banks, which have seen advisory
no

attaining more than

Rasa reached a cooperation agree- Also pursuant to the cooperation 5% in any class of a and Sept. 8 at prices ranging from revenue dwindle this year, will
company’s securities.
ment that resulted in the retirement agreement, Schrier will lead Schwartz Subsequent changes $134.88 to $138.65 each. Berkshire welcome being tapped to advise on
of Tabula Rasa’s co-founders Cal- and one other director in a strategic in holdings or inten- Partners cited no reason for reduc- campaigns. This past week, execu-
vin Knowlton, who served as chair- review committee tasked to drive Ta- tions must be re- ing its stake in Advanced Drainage tives at Citigroup (ticker: C) and
ported in amended
man and CEO, and Orsula Knowl- bula Rasa’s sale of noncore assets and filings. This material is to 4.1%. As that figure is below the JPMorgan Chase (JPM) warned
ton, who served as co-president “explore other value-creation opportu- from Sept. 8 through 5% threshold, Berkshire Partners that investment-banking revenue is
Sept. 14, 2022.
and chief marketing and new busi- nities.” Indaba will also withdraw a Source: VerityData
isn’t required to disclose any fur- expected to be down 50% year over
ness development officer. The stockholder inspection demand letter (verityplatform- ther Advanced Drainage stock year.
Knowltons also left Tabula Rasa’s that it sent to Tabula Rasa in late July. .com) sales. Who knows, maybe this surge
of activist activity may turn out
to be good for investors, too. B
 September 19, 2022 BARRON’S 39

CHARTING THE MARKET

A graphic look at selected stock activity
for the week ended September 16, 2022
Edited by Bill Alpert

FedEx Packaging Corp. of America NCR Adobe

FDX (NYSE) • $161.02 • -48.05 PKG (NYSE) • $118.07 • -21.51 NCR (NYSE) • $23.20 • -8.94 ADBE (NASD) • $299.50 • -95.28
The delivery service pulled 2023 guidance, warning FedEx’s weak package-shipment volumes led Jeffer- Hopes of a company buyout were dashed, as NCR The software firm unpleasantly surprised Wall Street
that weak shipping volumes hurt its August quarter. ies to put a Sell rating on this packing materials said it found no buyer. It’ll split its ATM cash machine with a deal to buy the design platform Figma for $20

.
November earnings could be half of forecasts. supplier. Box maker International Paper slid, too. business from units focused on digital commerce. billion in cash and stock. Downgrades ensued.

ly
Stock Price $ Stock Price $ Stock Price $ Stock Price $
283 170 49 704
257 159 43 621

on
231 148 37 538
205 137 31 455
179 126 25 372
153 115 19 289

us ,
l
Volume in Millions Volume in Millions Volume in Millions Volume in Millions
44 8 32 54

e
al a
22 4 16 27
0 0 0 0

ci on
S O N D J F M A M J J A S S O N D J F M A M J J A S S O N D J F M A M J J A S S O N D J F M A M J J A S

Nucor Roblox Humana STORE Capital

NUE (NYSE) • $117.08 • -26.48 RBLX (NYSE) • $39.50 • -6.03 HUM (NYSE) • $499.79 • 21.29 STOR (NYSE) • $31.90 • 4.17

er s
Weak volumes at its steel mills will hit September- Cowen launched coverage of the children’s video- At its annual investor conference, the health-care In a weak market for real-estate investment trusts,
To reprint or license content, please contact Barron's reprints department at 800-843-0008 or www.djreprints.com

quarter Nucor earnings. U.S. Steel echoed the game platform with a Sell, saying that earnings from insurer said Covid-19 was no longer a special the No. 3 sale leaseback REIT will be bought for $21
warning. Other steel and aluminum stocks sank.
m er
a virtual-reality metaverse are five-to-10 years off. burden and raised 2022 earnings guidance. billion by the investment firms GIC and Oak Street.

Stock Price $ Stock Price $ Stock Price $ Stock Price $

191 145 510 38
169 120 477 35
m rp
147 95 444 32
125 70 411 29
103 45 378 26
For personal non-commercial use only. Do not edit or alter. Reproductions not permitted.

81 20 345 23
co o

Volume in Millions Volume in Millions Volume in Millions Volume in Millions

28 340 16 86
14 170 8 43
F

0 0 0 0
S O N D J F M A M J J A S S O N D J F M A M J J A S S O N D J F M A M J J A S S O N D J F M A M J J A S

ChargePoint Holdings MicroStrategy Twilio Akero Therapeutics

CHPT (NYSE) • $17.97 • 0.29 MSTR (NASD) • $206.34 • -55.63 TWLO (NYSE) • $73.91 • 1.72 AKRO (NASD) • $26.02 • 14.31
The Biden administration okayed plans of 35 states To buy more Bitcoin, the software firm filed to sell The internet software firm will cut 11% of its work- A stock offering was announced by the biotech firm,
for electric-vehicle charging networks using $900 up to $500 million in its own common stock. Inves- force, to boost profit margins. The restructuring after a study showed its treatment helped a hard-to-
million in federal funds. Chargepoint’s a supplier. tors aren’t sure about its $2.9 billion bet. could cost between $70 million and $90 million. treat liver disease. Rival 89bio also got a stock pop.
n-

Stock Price $ Stock Price $ Stock Price $ Stock Price $

32 895 377 31
27 742 314 26
22 589 251 21
no

17 436 188 16
12 283 125 11
7 130 62 6

Volume in Millions Volume in Millions Volume in Millions Volume in Millions

76 16 46 62
38 8 23 31
0 0 0 0
S O N D J F M A M J J A S S O N D J F M A M J J A S S O N D J F M A M J J A S S O N D J F M A M J J A S

The charts record the net change in share price, the high, low and closing trades, and share volume for companies with noteworthy stock activity last week. In addition, the graphs depict last week’s daily price activity in detail. The dotted line on some graphs denotes the stock’s 200-day moving average; lack of a moving average means the shares have traded for less than
that time period. If the close from the current week is lower than a year ago the graph will be presented in red. If the close from the current week is higher than a year ago then the graph will be presented in green.
 40 BARRON’S September 19, 2022

W I N N E R S & LO S E R S
Saturday Inbox: Sign up for the
Market Lab Newsletter every Saturday
at Barrons.com/newsletters

NYSE Biggest % Movers NYSE Most Active NYSE American Most Active Nasdaq Most Active
Winners Volume Percentage Leaders Volume Percentage Leaders Volume Percentage Leaders
Name (Sym) Volume Close Change %Chg. Name (Sym) Volume %Chg. Close Change Name (Sym) Volume %Chg. Close Change Name (Sym) Volume %Chg. Close Change
AMTD Digital(HKD) 4191 108.00 +47.00 +77.0 DirectSellingA(DSAQ) 511 1714.9 10.06 –0.05 FOXOTechnologies(FOXO) 2782 1677.6 4.02 –5.29 AkeroTherap(AKRO) 60661 2956.0 26.02 +14.31
EveHolding(EVEX) 1028 11.10 +3.39 +44.0 InfiniteAcqnA(NFNT) 2003 1358.5 9.94 –0.01 Intellinetics(INLX) 871 1059.4 4.55 –1.39 VentyxBiosciences(VTYX) 19487 1341.2 36.85 +13.75

.
Allego(ALLG) 6354 5.79 +1.37 +31.0 LeoHldgsII A(LHC) 3759 1001.2 9.94 +0.01 PalatinTech(PTN) 954 189.4 7.96 +1.18 AmericanPubEdu(APEI) 6155 1311.3 8.15 –0.55

ly
AnnovisBio(ANVS) 1684 19.85 +4.55 +29.7 MineralsTechs(MTX) 7875 958.5 55.17 –7.39 IvanhoeElectric(IE) 3478 187.3 8.75 –2.36 KeyarchAcqn(KYCH) 447 1234.9 9.90 +0.05
PlanetLabs(PL) 35636 6.49 +1.13 +21.1 SoarTechAcqnA(FLYA) 840 913.1 10.26 +0.01 EvolutionPetrol(EPM) 2632 154.7 8.05 +1.41 WorldwideWebbA(WWAC) 677 1081.5 9.96 +0.01
ESSTech(GWH) 9267 4.86 +0.80 +19.7 DelekLogistics(DKL) 3031 846.9 56.01 –4.94 HNR Acqn(HNRA) 76 148.0 10.05 0.00 LakeshoreAcqnII(LBBB) 1049 1005.9 10.03 +0.01
GroveCollab(GROV) 1784 6.95 +1.09 +18.6 CrownPropA(CPTK) 1595 830.2 9.90 0.00 Electromed(ELMD) 115 145.0 11.64 +0.59 ALSPOrchidI A(ALOR) 1253 891.8 10.07 +0.01
Volta(VLTA) 27737 2.47 +0.35 +16.5 ConstellationI A(CSTA) 1445 785.3 9.90 0.00 ParkNational(PRK) 328 125.8 128.97 –3.83 SatsumaPharm(STSA) 2326 891.4 6.92 +0.51

on
FirstLightAcqnA(FLAG) 1684 670.3 9.93 –0.19 TompkinsFin(TMP) 398 120.3 74.68 –0.65 TLGY Acqn A(TLGY) 1769 823.8 10.07 +0.00
Losers Brown-Forman A(BF.A) 1747 635.7 71.33 –1.84 RadiantLogistics(RLGT) 1534 102.1 6.37 –0.47 AuroraTechA(ATAK) 655 801.2 10.02 +0.03
Name (Sym) Volume Close Change %Chg.
InvitatHomes(INVH) 126798 614.0 36.86 –2.69 NatlHealthcare(NHC) 314 92.4 69.76 –0.45 ProjectEnReimag(PEGR) 224 680.7 9.84 +0.01
IronNet(IRNT) 19922 1.20 –1.02 –45.9 PrimaveraCapA(PV) 1578 612.8 9.93 0.00 RileyExpln(REPX) 411 90.1 22.06 –1.76 UnitedSecBcshrs(UBFO) 341 637.8 6.54 –0.37
GettyImages(GETY) 6219 8.49 –4.03 –32.2 TwinRidgeCapA(TRCA) 567 488.1 9.90 +0.02 BarHarborBkshs(BHB) 201 89.5 28.37 +0.44 CoStar(CSGP) 70346 636.0 70.45 –7.97

us ,
System1(SST) 3224 7.47 –3.46 –31.7 LongviewII A(LGV) 3891 429.2 9.81 –0.01 CheniereEnergy(LNG) 22949 86.6 167.25 +6.00 RackspaceTech(RXT) 35839 611.5 5.33 +0.01
a.k.a.Brands(AKA) 1395 1.53 –0.61 –28.5

l
SES AI(SES) 14416 428.2 5.74 +0.54 ArenaGroup(AREN) 626 77.6 12.15 –0.92 Altimmune(ALT) 66206 604.8 13.67 –6.31
NCR(NCR) 19255 23.20 –8.94 –27.8

e
Core&Main(CNM) 10117 397.4 23.28 –0.99 Cryo-Cell(CCEL) 53 69.7 7.50 +0.56 FirstWatchRest(FWRG) 3748 557.1 15.11 –3.38

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BlueApron(APRN) 26016 5.23 –1.85 –26.1 V2X(VVX) 1331 374.2 38.81 +2.59 CheniereEnerPtrs(CQP) 2032 66.6 54.10 –3.18 Consilium I A(CSLM) 571 527.6 9.90 –0.02
LocalBounti(LOCL) 3360 2.56 –0.82 –24.3 OutfrontMedia(OUT) 42562 371.1 18.11 –1.58 FriedmanInds(FRD) 182 66.3 7.80 –1.27 ConsldWater(CWCO) 2801 506.5 17.41 –0.42
FathomDigital(FATH) 701 2.39 –0.76 –24.1 SpectrumBrands(SPB) 8171 353.1 47.05 –14.37 EvansBancorp(EVBN) 110 60.4 38.65 +0.44 EdgewiseTherap(EWTX) 6606 486.1 9.58 –2.84

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TigaAcqnA(TINV) 1871 350.5 10.36 +0.00 BlueRidgeBkshs(BRBS) 224 52.7 13.10 –1.27 GlblTechAcqnI(GTAC) 527 477.7 10.05 +0.00

NYSE American Biggest % Movers By Share Volume By Share Volume By Share Volume
Winners Name (Sym) Volume Close Change %Chg. Name (Sym) Volume Close Change %Chg. Name (Sym) Volume Close Change %Chg.

er s
Name (Sym) Volume Close Change %Chg. FordMotor(F) 322077 14.72 –0.70 –4.5 TimberPharm(TMBR) 120348 0.12 +0.01 +4.6 Apple(AAPL) 570541 150.70 –6.67 –4.2
To reprint or license content, please contact Barron's reprints department at 800-843-0008 or www.djreprints.com

AirspanNetworks(MIMO) 80 2.99 +0.75 +33.3 NIO(NIO) 321493 20.15 +0.99 +5.2 Tellurian(TELL) 94722 3.95 –0.52 –11.6 AdvMicroDevices(AMD) 381294 76.51 –8.94 –10.5
EvolutionPetrol(EPM)
PalatinTech(PTN)
2632
954
8.05
7.96
+1.41
+1.18
+21.2
+17.4
m er
AT&T(T)
Carnival(CCL)
235115
221951
16.74
10.76
–0.29
+0.36
–1.7
+3.5
RaMedicalSys(RMED)
CamberEnergy(CEI)
89299
89165
0.14
0.26
–0.01
–0.06
–6.2
–19.3
Tesla(TSLA)
Amazon.com(AMZN)
341043 303.35
339938 123.53
+3.67
–9.74
+1.2
–7.3
ArmataPharm(ARMP) 45 4.21 +0.59 +16.3 Vale(VALE) 207206 12.98 –0.53 –3.9 UraniumEner(UEC) 61747 3.88 –0.56 –12.6 NVIDIA(NVDA) 297960 131.98 –11.89 –8.3
IdahoStratRscs(IDR) 100 5.80 +0.60 +11.5 BankofAmerica(BAC) 202342 34.12 –0.82 –2.3 Globalstar(GSAT) 57216 1.83 +0.06 +3.4 Intel(INTC) 262306 29.24 –2.22 –7.1
Birks(BGI) 257 5.74 +0.56 +10.8 SouthwesternEner(SWN) 197952 7.21 –0.44 –5.8 BitNile(NILE) 48478 0.25 –0.03 –11.5 SoFiTech(SOFI) 238829 6.05 –0.28 –4.4
m rp
BK Tech(BKTI) 144 2.55 +0.24 +10.4 Snap(SNAP) 187966 11.30 –1.35 –10.7 B2Gold(BTG) 46972 3.30 –0.19 –5.4 FaradayFuture(FFIE) 235412 0.97 –0.14 –13.1
DecisionPointSys(DPSI) 139 5.93 +0.52 +9.6 Uber(UBER) 185939 31.93 +0.15 +0.5 GranTierraEner(GTE) 41854 1.39 +0.01 +0.7 MetaPlatforms(META) 185320 146.29 –22.86 –13.5
PalantirTech(PLTR) 183507 7.78 –0.01 –0.1 AmpioPharm(AMPE) 41494 0.09 0.00 0.0 Comcast A(CMCSA) 178254 34.52 –0.91 –2.6
Losers OccidentalPetrol(OXY) 161839 64.41 –1.20 –1.8 DenisonMines(DNN) 38268 1.26 –0.19 –13.1 Alphabet C(GOOG) 165630 103.63 –8.15 –7.3
Name (Sym) Volume Close Change %Chg.
AMTD IDEA(AMTD) 161155 1.78 +0.36 +25.4 Zomedica(ZOM) 38238 0.25 +0.00 +0.7 Rivian(RIVN) 164662 39.26 +1.71 +4.6
For personal non-commercial use only. Do not edit or alter. Reproductions not permitted.

FOXOTechnologies(FOXO) 2782 4.02 –5.29 –56.8 AMC Ent(AMC) 151106 8.98 –0.74 –7.6 NewGold(NGD) 33244 0.91 +0.12 +15.3 Alphabet A(GOOGL) 164339 102.80 –7.85 –7.1
1847Holdings(EFSH) 229 2.04 –1.07 –34.4 Nokia(NOK) 151009 4.63 –0.44 –8.7 SilvercorpMetals(SVM) 30382 2.32 –0.08 –3.3 Grab(GRAB) 157801 2.98 –0.17 –5.4
co o

Intellinetics(INLX) 871 4.55 –1.39 –23.4 ItauUnibanco(ITUB) 142289 5.05 –0.12 –2.3 CheniereEnergy(LNG) 22949 167.25 +6.00 +3.7 Microsoft(MSFT) 147188 244.74 –19.72 –7.5
KnowLabs(KNW) 12435 2.10 –0.58 –21.6 NuHoldings(NU) 138121 5.28 –0.11 –2.0 Senseonics(SENS) 22382 1.54 –0.06 –3.8 AmerAirlines(AAL) 145198 13.75 –0.44 –3.1
IvanhoeElectric(IE) 3478 8.75 –2.36 –21.2 Roblox(RBLX) 136801 39.50 –6.03 –13.2 iBio(IBIO) 16154 0.46 +0.18 +62.4 Lucid(LCID) 136717 16.18 +1.10 +7.3
F

FreshVineWine(VINE) 74 2.40 –0.63 –20.8 Transocean(RIG) 132411 3.03 –0.72 –19.2 EnergyFuels(UUUU) 12633 6.51 –1.17 –15.2 CSX(CSX) 134332 29.49 –3.14 –9.6
EmpirePetrol(EP) 602 12.01 –2.67 –18.2 Shopify(SHOP) 132199 31.73 –3.08 –8.8 KnowLabs(KNW) 12435 2.10 –0.58 –21.6 DraftKings(DKNG) 128945 18.60 +0.97 +5.5
CentrusEnergy(LEU) 1199 45.88 –8.73 –16.0 Verizon(VZ) 130815 41.25 –0.99 –2.3 EquinoxGold(EQX) 12216 3.37 –0.22 –6.1 HuntingtonBcshs(HBAN) 124685 13.71 –0.43 –3.0

Nasdaq Biggest % Movers By Dollar Volume By Dollar Volume

Name (Sym) $ Volume Close Change %Chg.
By Dollar Volume
Name (Sym) $ Volume Close Change %Chg.
Name (Sym) $ Volume Close Change %Chg.
Winners CheniereEnergy(LNG) 3880409 167.25 +6.00 +3.7 Tesla(TSLA) 101954845 303.35 +3.67 +1.2
Chevron(CVX) 13275258 156.45 –3.52 –2.2
Name (Sym) Volume Close Change %Chg.
ExxonMobil(XOM) 11019692 93.21 –3.29 –3.4 Tellurian(TELL) 376363 3.95 –0.52 –11.6 Apple(AAPL) 88003609 150.70 –6.67 –4.2
AkeroTherap(AKRO) 60661 26.02 +14.31 +122.2 UraniumEner(UEC) 249390 3.88 –0.56 –12.6 Amazon.com(AMZN) 43012415 123.53 –9.74 –7.3
OccidentalPetrol(OXY) 10591235 64.41 –1.20 –1.8
ZeroFox(ZFOX) 4572 7.06 +2.95 +71.8
n-

Snowflake(SNOW) 8849074 184.67 –3.52 –1.9 B2Gold(BTG) 159286 3.30 –0.19 –5.4 NVIDIA(NVDA) 39486175 131.98 –11.89 –8.3
VentyxBiosciences(VTYX) 19487 36.85 +13.75 +59.5 CheniereEnerPtrs(CQP) 112662 54.10 –3.18 –5.6 Microsoft(MSFT) 36835323 244.74 –19.72 –7.5
J&J(JNJ) 8272681 167.60 +1.89 +1.1
Akouos(AKUS) 982 5.16 +1.87 +56.8 ImperialOil(IMO) 106795 45.80 –2.69 –5.5 AdvMicroDevices(AMD) 29784106 76.51 –8.94 –10.5
UnitedHealth(UNH) 8122406 521.02 –3.32 –0.6
AppliedOptoelec(AAOI) 80018 3.76 +1.26 +50.4 Globalstar(GSAT) 102797 1.83 +0.06 +3.4 MetaPlatforms(META) 28318090 146.29 –22.86 –13.5
Oracle(ORCL) 7471134 68.83 –7.08 –9.3
InnovAge(INNV) 2249 5.53 +1.74 +45.9 EnergyFuels(UUUU) 88898 6.51 –1.17 –15.2 Alphabet C(GOOG) 17412374 103.63 –8.15 –7.3
HomeDepot(HD) 7266234 275.97 –23.80 –7.9
no

Immuneering(IMRX) 637 12.28 +3.41 +38.4 SilvercorpMetals(SVM) 70909 2.32 –0.08 –3.3 Alphabet A(GOOGL) 17160430 102.80 –7.85 –7.1
Alibaba(BABA) 7082490 86.43 –5.71 –6.2
NanoLabs(NA) 701 5.56 +1.52 +37.6 GranTierraEner(GTE) 59941 1.39 +0.01 +0.7 Adobe(ADBE) 16924100 299.50 –95.28 –24.1
FedEx(FDX) 6970034 161.02 –48.05 –23.0
Losers BankofAmerica(BAC) 6922387 34.12 –0.82 –2.3 CentrusEnergy(LEU) 58763 45.88 –8.73 –16.0 Netflix(NFLX) 14024119 240.13 +6.56 +2.8
Name (Sym) Volume Close Change %Chg. NIO(NIO) 6836437 20.15 +0.99 +5.2 DenisonMines(DNN) 52049 1.26 –0.19 –13.1 Broadcom(AVGO) 8499534 502.50 –19.90 –3.8
JPMorganChase(JPM) 6571226 117.08 –2.09 –1.8 EquinoxGold(EQX) 42867 3.37 –0.22 –6.1 Intel(INTC) 7751976 29.24 –2.22 –7.1
VintageWineEstates(VWE) 7087 3.10 –2.64 –46.0
Boeing(BA) 6298056 144.29 –13.23 –8.4 ParkNational(PRK) 42354 128.97 –3.83 –2.9 PayPal(PYPL) 7056790 94.00 –2.23 –2.3
PepGen(PEPG) 286 5.63 –4.27 –43.1
BerkHathwy B(BRK.B) 6180681 274.81 –10.96 –3.8 MAG Silver(MAG) 41482 12.20 –0.89 –6.8 Starbucks(SBUX) 6540765 91.31 +2.62 +3.0
RenttheRunway(RENT) 22288 2.90 –1.58 –35.3
Uber(UBER) 5991956 31.93 +0.15 +0.5 IndonesiaEnergy(INDO) 38837 6.70 –0.66 –9.0 EnphaseEnergy(ENPH) 6463233 318.01 +12.31 +4.0
Omeros(OMER) 3840 3.51 –1.84 –34.4
Roblox(RBLX) 5856719 39.50 –6.03 –13.2 NovaGoldRscs(NG) 36384 4.45 –0.13 –2.8 Rivian(RIVN) 6437903 39.26 +1.71 +4.6
LesakaTech(LSAK) 776 3.50 –1.67 –32.3
Disney(DIS) 5834180 108.25 –6.93 –6.0 Senseonics(SENS) 34550 1.54 –0.06 –3.8 TexasInstruments(TXN) 6142875 165.26 –5.48 –3.2
AlaunosTherap(TCRT) 75383 2.50 –1.19 –32.2
BerkHathwy A(BRK.A) 5818169414537.00–15282.41 –3.6 SilverCrestMetals(SILV) 33128 5.58 –0.38 –6.4 Comcast A(CMCSA) 6124355 34.52 –0.91 –2.6
Altimmune(ALT) 66206 13.67 –6.31 –31.6
Visa(V) 5735171 193.30 –11.90 –5.8 KnowLabs(KNW) 32941 2.10 –0.58 –21.6 PepsiCo(PEP) 5963618 166.97 –6.25 –3.6
SarcosTech&Robotic(STRC) 6200 2.83 –1.07 –27.4

Includes Common shares only. All figures reflect activity for the most-recent five-day trading week. Share volume figures are expressed in thousands. Volume percentage leaders exclude stocks with average daily volume of fewer than 5,000 shares or priced under $5.
Average volume is based on 65 trading days. Volume figures do not reflect extended trading hours. a-Stock has not been in existence or not been traded for 65 consecutive sessions. S-Stock split or stock dividend amounting to 10% or more. X-Ex-dividend
 September 19, 2022 BARRON’S 41

M A R K E T VI E W
This commentary was issued recently by
money managers, research firms, and market
newsletter writers. Edited by Barron’s staff.

The Poor(er) U.S. Consumers February and briefly stabilized in March;

since then, it has been sinking further. A
“Shrinking household balance sheets, the draw-
The Week in 60 Seconds
Wells Fargo combination of substantially higher mortgage down of excess savings, and the reliance on
wellsfargo.com rates and a steep run-up in house prices is
revolving credit suggest that the American

.
having a significant negative effect on de-

ly
Sept. 16: The Fed released U.S. household mand. The refi index shows an even starker consumer is running on fumes. A recession
balance-sheet statistics for the June quarter, picture, with soaring mortgage rates having a
and as we forecasted three months ago, a chilling effect on demand for mortgage refi- by the first half of 2023 may be inevitable.”

on
drop in equity values drove a $6 trillion nancing. Christopher P. Harvey, Gary S. Liebowitz, Anna Han; Wells Fargo
(4.1%) decline in aggregate net worth, to —Joshua Shapiro
$144 trillion. This was the largest quarterly
decline in net worth since the onset of Covid

us ,
(1Q20: -5.1%), and before that, the financial Please Listen to the Fed! one year ago, our research saw the highest don’t change the long-term fundamentals

l
crisis (4Q08: -5.0%). Weekly Technical Review level of risk being taken by investors since for most of Europe’s companies, and even

e
al a
Equities fell 17%, from $38.4 trillion, and Macro Tides the late 1990s. [It] was a pivotal time when the short-term impact will be muted for
to only 19.7% of total assets (Q1-end: 22.8%). macrotides.com investors didn’t understand the amount of many. Many larger companies, especially,

ci on
The 19.7% is the lowest since 2Q20. The risk they were taking, nor the degree of risk don’t depend solely on Europe’s near-term
decline in equities was only slightly offset Sept. 13: Wall Street has been consistently in bonds or those 60/40 stock/bond allo- economic fundamentals. There are several
by rising real estate values. Cash ticked wrong about what the FOMC [Federal cated portfolios. The Russia/Ukraine conflict global leaders based in Europe, but with
slightly lower ($18.52 trillion vs. $18.65 tril- Open Market Committee] would do, despite made our energy overweight pay off even majority exposure to other parts of the
lion), the first decline since 2Q19. being told repeatedly by FOMC members more quickly than we expected, but other world. Our holdings include worldwide

er s
Shrinking household balance sheets, the what they planned. In March, the FOMC sectors will struggle from this rising interest industry juggernauts in such areas as food
To reprint or license content, please contact Barron's reprints department at 800-843-0008 or www.djreprints.com

draw-down of excess savings, and the reli- said it would increase the funds rate expedi- rate and high inflationary environment. products; luxury consumer goods; semicon-
ance on revolving credit suggest that the
m er
tiously to neutral last spring and, in recent Earnings will struggle in most other sectors, ductor fabrication equipment; chemicals,
American consumer is running on fumes. weeks, that an increase to 3.75% to 4.25% so the latest plunge in valuations is not yet as food, and fragrance ingredients; industrial
A recession by the first half of 2023 may was likely. Fed Chairman Jerome Powell’s appealing in the current scenario as it would automation tools and services; 3-D design
be inevitable. Jackson Hole speech was a wake-up call, have been typically. In other words, if earn- software; and biotechnology therapeutic
m rp
—Christopher P. Harvey, Gary S. Liebowitz, but Wall Street has continued to harbor the ings decline while many balance sheets have solutions. A few of these lack meaningful
Anna Han bullish illusion that the FOMC will be cut- deteriorated, then current price/earnings competitors from the U.S. or anywhere else
ting rates next year. The latest consumer- ratios will need to be adjusted. It is more in the world. Those that do face competition
For personal non-commercial use only. Do not edit or alter. Reproductions not permitted.

price-index miss relative to CPI forecasts critical than ever to be selective, as there currently enjoy a competitive edge due to
Big Chill in Housing was a jolt, since the Street has been overfo- will be more losers than winners. the cheap euro...
co o

Commentary & Analysis cused on inflation easing as the basis for its —Alan B. Lancz European stock valuations are beyond
Maria Fiorini Ramirez Inc. dovish posture. The FOMC is now far more compelling—some would say stupid cheap.
F

mfr.com likely to increase the funds rate by 0.75 The relative price-to-book ratio shows Eu-
[percentage point] at the Sept. 21 meeting The Case for Europe rope’s valuation at 44% of the U.S. When
Sept. 14: For the week ended on Sept. 9, than the 0.50 that I thought was possible... Commentary this ratio moved below 70% in late 2001,
overall mortgage applications fell by a week- The FOMC members have referenced the Advisors Capital Management considered cheap at the time, European
to-week 1.2% after easing by 0.8% in the “extreme” tightness in the labor market for advisors.com stocks outperformed U.S. stocks by 166%
preceding span. Applications for home months, but investors have not been listen- over the next seven years.
purchase inched up by 0.2% after ebbing ing. Sooner or later, Wall Street will experi- Sept. 12: Europe’s short-term challenges —David Ruff
by 0.7% in the prior week. Applications for ence another narrative adjustment when the
refinancing purposes dropped by 4.2% after FOMC’s messaging about the need to create
n-

declining by 1.1% in the previous week. more slack in the labor market, and an atten- Market Sentiment
While week-to-week movements in dant increase in the unemployment rate to Citigroup Panic/Euphoria Model Last –0.14 Euphoria Neutral Panic
these data can be affected by seasonal- 5% or higher, sink in. 1.2
adjustment difficulties, it is nonetheless —Jim Welsh
no

clear that the downward trend continues 0.8

for home-purchase applications. Refi appli- 0.4

cations, meanwhile, continue to decline, Don’t Buy the Plunge 0
while mortgage rates have resumed rising. The Lancz Letter
The purchase index, after having re- Lancz Global -0.4
bounded for some time, dropped sharply in lanczglobal.com
-0.8

-1.2
Sept. 13: Why are [we] not more positive on A S O N D J F M A M J J A S
To be considered for this section, material, with the stock and bond markets, especially after The panic/euphoria model is a gauge of investor sentiment. It identifies "Panic" and "Euphoria" levels which are statistically driven buy and sell
signals for the broader market. Historically, a reading below panic supports a better than 95% likelihood that stock prices will be higher one year
the author’s name and address, should be sent prices plunged through most of 2022? Typi- later, while euphoria levels generate a better than 80% probability of stock prices being lower one year later.
to [email protected]. cally, we would be buyers into weakness, but Source: Citigroup Investment Research - US Equity Strategy
 42 BARRON’S September 19, 2022

Barron's 50-Stock Average 55 Dow Jones Per Share Values 54 Mutual Funds 51 Week In Stocks 54

DATA
Cash Track 51 Exchange Traded Portfolios 50 N.Y. Stock Exchange 42 Weekly Bond Statistics 56
Charting the Market 39 Federal Reserve Data Bank 56 Nasdaq National Market 46 Winners & Losers Stocks 40
Coming Earnings 55 Foreign Exchange 55 New Corporate Listings 54
Conference Call Calendar 55 Gold & Silver Prices 56 New Highs & Lows 57
Delta Tactical Sentiment 55 Gold Mining Index 56 NYSE Half-Hourly Volume 54
Distributions & Offerings 56 Indexes P/Es & Yields 54 Other Market Indexes 53
Dividend Boosts - Reductions 56 Initial Public Offerings 54 Pulse of the Economy 55
Dividend Ex-Payment Dates 56 Investor Sentiment Readings 54 Stock Splits - Special Dividends 56
DJ Averages 53 Key Foreign Market Indexes 49 Stock Volume 54
DJ U.S. Total Market Industry Groups 55 Market Lab 53 Trading Diary 53
Contact Us
Dow Jones Averages 53 Money Rates, U.S. & Foreign 55 Vital Signs 33 For queries, email us at
Statistics from September 12-16, 2022 [email protected]

.
NEW YORK STOCK EXCHANGE COMPOSITE LIST - NEW HIGHS - NEW LOWS

ly
–52-Week– Tick Div –52-Week– Tick Div –52-Week– Tick Div –52-Week– Tick Div –52-Week– Tick Div
High Low Name Sym Yld P/E Last Chg. Amt. High Low Name Sym Yld P/E Last Chg. Amt. High Low Name Sym Yld P/E Last Chg. Amt. High Low Name Sym Yld P/E Last Chg. Amt. High Low Name Sym Yld P/E Last Chg. Amt.
99.20 80.27 Ameren AEE 2.6 24 91.73 –3.88 .59 9.90 9.67 ArctosNorthA ANAC ... 36 9.89 ... ... 59.34 46.12 BCE BCE 6.1 19 46.94 –1.97.7125 13.80 6.96 Bowlero BOWL ... dd 13.43 +1.45 ...
AB

on
101.86 40.73 Ameresco AMRC ... 41 73.17 –1.57 ... 49.10 16.74 ArcusBiosci RCUS ... 36 25.92 +0.46 ... 12.35 0.99 BEST BEST ... 0 1.00 –0.15 ... 33.04 22.18 Box BOX ... dd 26.30 –0.84 ...
22.65 16.64 AmericaMovil AMX 2.0 13 16.84 –0.50.4414 10.56 5.35 ArdaghMetalPkg AMBP 6.7 dd 5.94 –0.55 .10 15.65 11.61 BGSF BGSF 4.7 11 12.66 +0.68 .15 17.05 0.90 Boxed BOXD ... dd .95 –0.11 ...
52.83 30.90 AAR AIR ... 17 38.33 –4.70 ... 22.57 16.52 AmericaMovil A AMOV 3.8 13 16.77 –0.47.4414 10.57 3.09 ArdmoreShipping ASC ... dd 10.00 +0.15 ... 71.04 46.27 BHP Group BHP 12.7 4 50.95 –2.39 3.50 72.72 47.66 BoydGaming BYD .0 10 51.85 –4.93 .15
39.11 25.80 ABB ABB 2.6 13 27.13 –1.39.7066 40.83 26.49 AmericanAssets AAT 4.7 42 27.41 –0.64 .32 9.94 9.70 AresAcqnA AAC ... 38 9.93 +0.02 ... 11.14 0.30 BitMining BTCM ... dd .30 –0.09 ... 55.95 41.70 Brady BRC 2.1 15 43.23 –1.53 .23
54.00 38.08 ABMIndustries ABM 1.9 13 40.13 –5.87 .195 11.96 6.36 AmericanAxle AXL ... dd 8.70 –1.01 ... 16.48 11.18 AresCommRealEst ACRE10.4 11 12.69 –0.73 .02 79.69 51.45 BJ'sWholesale BJ ... 22 78.45 –0.46 ... 6.64 4.06 BraemarHtls BHR .8 87 5.16 –0.12 .01
9.50 5.23 ACCO Brands ACCO 5.5 5 5.44 –0.36 .075 29.19 9.94 AmerEagle AEO 6.6 12 10.95 +0.26 .18 90.08 53.15 AresMgmt ARES 3.3 48 74.66 –4.08 .61 10.04 9.64 BoaAcqnA BOAS ... 32 9.84 ... ... 14.88 7.82 BrandywineRealty BDN 9.2 90 8.29 –0.10 .19
16.45 7.78 AcresCmclRlty ACR ... dd 9.20 –0.44 ... 44.49 27.12 AmEqtyLf AEL .9 3 37.50 –0.14 .34 46.24 32.01 Argan AGX 3.0 19 33.00 –1.70 .25 34.30 24.53 BP BP 4.3 dd 31.01 –0.68.3604 9.82 4.11 BrasilAgro LND 14.6 6 5.79 –0.02.4586
32.00 5.20 ADC Therap ADCT ... dd 5.25 –0.92 ... 199.55 134.12 AmerExpress AXP 1.4 16 153.08 –5.36 .52 61.30 19.22 ArgoGroup ARGO 5.3 dd 23.58 +1.54 .31 26.08 3.41 BP Prudhoe BPT 20.6 9 15.26 –1.011.405 25.80 10.72 Braskem BAK 29.5 4 10.94 –1.13 .708

us ,
10.39 6.00 ADT ADT 1.7 dd 8.17 –0.22 .035 152.29 122.71 AmericanFin AFG 1.7 11 128.64 –3.29 .56 23.58 10.06 ArisWater ARIS 2.1 dd 15.94 –0.60 .09 34.00 6.62 BRC BRCC ... dd 8.35 –0.62 ... 84.61 34.55 BreadFinancial BFH 2.2 3 37.48 –2.36 .21
10.39 9.12 AEA-BridgesA IMPX ... 57 10.15 +0.14 ... 44.07 32.60 AmHomes4Rent AMH 2.0 62 35.68 –1.37 .18 148.57 85.18 AristaNetworks ANET ... 36 115.73 –8.68 ... 5.19 2.30 BRF BRFS ... dd 2.77 –0.33 ... 25.61 13.74 BridgeInvt BRDG 7.5 12 15.97 –0.04 .30
79.97 60.74 AECOM ACM .8 34 71.26 –3.87 .15

l
65.73 48.40 AIG AIG 2.4 4 53.65 –1.39 .32 4.04 2.88 ArlingtonAsset AAIC ... dd 3.06 –0.13 ... 25.67 18.35 BRT Apartments BRT 4.6 5 21.82 –1.35 .25 33.64 18.53 BrighamMin MNRL 2.2 13 26.94 –1.00 .61
27.79 18.62 AES AES 2.4 dd 25.92 –1.51 .158 23.02 10.02 AmRltyInv ARL ... 6 13.75 –0.25 ... 11.79 5.20 ArloTech ARLO ... dd 5.31 –0.36 ... 62.53 42.58 BWX Tech BWXT 1.7 16 52.65 –1.77 .22 10.19 1.38 BrightHealth BHG ... dd 1.38 –0.25 ...

e
67.20 51.28 Aflac AFL 2.7 9 59.50 –2.38 .40 10.37 5.19 Babcock&Wilcox BW ... 39 8.06 –0.42 ... 171.91 62.42 BrightHorizons BFAM ... 43 63.24 –7.02 ...

al a
103.77 71.22 AmerStWater AWR 1.9 39 85.79 +1.40.3975 15.80 12.25 ArmadaHoffler AHH 6.0 34 12.59 –0.51 .19
150.28 88.55 AGCO AGCO .9 10 103.69 –9.74 .24 297.55 220.00 AmerTowerREIT AMT 2.2 40 245.89 –15.70 1.43 11.18 5.57 ArmourResREIT ARR 18.3 dd 6.55 –0.65 .10 16.00 0.59 Babylon BBLN ... dd .63 –0.08 ... 12.76 2.04 BrightScholar BEDU ... ... 3.10 –0.04 ...
13.49 5.57 AG Mortgage MITT 14.1 dd 5.94 –0.02 .21 25.99 13.82 AmerVanguard AVD .5 22 19.89 –0.32 .025 118.14 73.25 ArmstrongWorld AWI 1.1 21 83.54 –3.45 .231 112.36 73.20 BadgerMeter BMI 1.0 43 93.21 –3.88 .225 31.17 16.18 BrightSphere BSIG .2 7 16.79 –1.64 .01
15.23 1.53 a.k.a.Brands AKA ... dd 1.53 –0.61 ... 189.65 129.45 AmerWaterWorks AWK 1.8 21 148.40 –6.50 .655 137.95 94.45 ArrowElec ARW ... 5 96.11 –8.14 ... 50.80 1.98 Bakkt BKKT ... dd 2.52 –0.44 ... 10.42 7.09 BrightSpire BRSP 9.7 15 8.22 –0.22 .20
28.49 5.96 AMC Ent AMC ... dd 8.98 –0.74 ... 11.40 2.52 AmericanWell AMWL ... dd 3.97 –0.36 ... 52.42 31.23 ArtisanPtrsAsset APAM10.9 8 31.84 –2.01 .60 97.99 54.56 Ball BALL 1.4 25 56.66 –2.67 .20 17.53 8.60 BrightView BV ... 35 8.78 –1.05 ...

ci on
129.12 82.76 AMN Healthcare AMN ... 11 105.08 –1.02 ... 11.55 10.01 AmericasTechA ATA ... cc 10.40 ... ... 24.65 15.44 Artivion AORT ... dd 21.07 –1.18 ... 55.03 17.54 Bally's BALY ... dd 24.20 –0.97 ... 54.40 21.47 BrinkerIntl EAT ... 11 28.34 –1.31 ...
2555.30 12.05 AMTD Digital HKD ... ... 108.00 +47.00 ... 35.14 23.96 AmericoldRealty COLD 3.1 dd 28.37 –1.80 .22 145.79 16.19 Asana ASAN ... dd 24.03 –0.63 ... 22.09 16.66 BancCalifornia BANC 1.4 11 17.21 –0.40 .06 73.42 52.12 Brink's BCO 1.5 15 53.25 –2.39 .20
12.90 1.01 AMTD IDEA AMTD ... 3 1.78 +0.36 ... 332.37 219.99 Ameriprise AMP 1.8 10 272.26 –14.35 1.25 230.97 146.43 AsburyAutomotive ABG ... 5 156.84 –13.85 ... 4.48 2.03 BancoBBVA BBAR .0 2 3.18 –0.19.0191 80.59 53.22 BristolMyers BMY 3.0 24 71.52 +1.36 .54
10.14 9.86 AP Acqn A APCA ... ... 10.14 +0.01 ... 167.19 113.68 AmerisourceBrgn ABC 1.3 16 140.55 –6.72 .46 10.40 9.80 AscendantDigA ACDI ... 31 10.13 –0.02 ... 7.26 3.93 BancoBilbaoViz BBVA 5.6 5 4.93 +0.09.2493 0.25 0.07 BristolMyersRt CELG.RT67.3 ... .16 +0.03.1046
4.18 2.40 ARC Document ARC 7.1 11 2.82 –0.16 .05 148.07 106.17 Ametek AME .7 25 118.95 –6.83 .22 17.21 4.61 AshfordHosp AHT ... dd 8.74 –1.24 ... 3.55 2.45 BancoBradesco BBDO 2.8 7 3.01 –0.05.0032 40.10 21.61 Bristow VTOL ... cc 26.48 –0.95 ...
8.65 4.88 ASETech ASX 10.2 5 5.57 –0.18.4794 5.99 2.15 AmnealPharm AMRX ... dd 2.34 +0.03 ... 112.91 83.29 Ashland ASH 1.4 29 98.73 –3.49 .335 22.74 15.60 BancodeChile BCH 5.5 7 18.74 –0.58 .855 47.24 33.62 BritishAmTob BTI 7.1 13 39.49 –1.18.7354
131.89 78.26 ASGN ASGN ... 11 92.02 –5.55 ... 6.67 3.06 Ampco-Pitt AP ... dd 4.04 –0.01 ... 65.99 7.93 AspenAerogels ASPN ... dd 12.20 –1.22 ... 19.33 12.58 Bladex BLX 6.7 7 15.00 +0.10 .25 27.19 19.42 BrixmorProp BRX 4.5 22 21.27 –1.31 .24
21.53 16.55 AT&T T 6.6 6 16.74 –0.29.2775 88.45 61.67 Amphenol APH 1.1 25 72.73 –3.17 .20 29.54 16.88 AssetMarkFin AMK ... 20 19.41 –0.34 ... 19.92 9.72 BancoMacro BMA 4.2 4 16.36 –0.41 .082 10.49 6.11 BroadmarkRealty BRMK 13.1 11 6.39 +0.06 .07
33.31 13.85 ATI ATI ... cc 30.10 –1.02 ... 7.98 4.87 BancSanBrasil BSBR 7.0 ... 5.68 –0.20.0365 185.40 132.40 BroadridgeFinl BR 1.8 36 163.63 –8.78 .725
9.86 2.60 AmplifyEnergy AMPY ... cc 7.43 –0.54 ... 25.78 17.45 AssociatedBanc ASB 3.9 10 20.69 +0.02 .20
4.57 0.85 ATI PhysTherapy ATIP ... dd 1.15 –0.01 ... 22.95 13.77 BcoSantChile BSAC ... 7 15.36 –1.17 ...

er s
26.01 7.90 AmpriusTech AMPX ... ... 8.30 –1.70 ... 47.50 33.69 AssocCapital AC .5 dd 38.70 –1.48 .10 27.25 18.57 Broadstone BNL 5.7 26 19.09 –0.43 .27
19.05 12.27 A10Networks ATEN 1.6 10 12.88 –0.77 .05 6.48 4.52 BcoSantMex BSMX 11.5 6 5.28 –0.16.3272 7.70 4.02 BrookdaleSrLiving BKD ... dd 5.25 +0.20 ...
10.14 9.94 AxiosSustGrwA AXAC ... ... 10.10 ... ... 18.80 9.88 Amrep AXR ... 6 13.09 +1.60 ... 194.12 144.18 Assurant AIZ 1.8 31 154.83 –8.87 .68
10.31 9.84 AndrettiAcqnA WNNR ... dd 10.08 +0.01 ... 65.68 44.94 AssuredGuaranty AGO 1.9 13 53.56 –0.76 .25 4.01 2.28 BancoSantander SAN 2.8 5 2.63 +0.08.0571 62.47 42.21 BrookfieldMgt BAM 1.2 21 48.03 –2.27 .14
To reprint or license content, please contact Barron's reprints department at 800-843-0008 or www.djreprints.com

0.16 0.04 AxiosSustGrwRt AXAC.RT ... ... .06 –0.02 ... 45.98 26.27 BanColombia CIB 4.0 8 27.64 –1.07.7403 64.09 42.29 BrookfieldReins BAMR .0 ... 47.97 –2.37 .14
61.39 44.49 AXIS Capital AXS 3.2 11 53.50 –0.80 .43 18.73 12.20 AngelOakMtg AOMR12.2 dd 14.74 +0.07 .45 32.00 4.66 Atento ATTO ... dd 4.84 –0.44 ...
10.08 9.60 AngelPondA POND ... 52 9.84 –0.05 ... 10.26 9.85 AthenaCnsmrA ACAQ ... dd 10.05 –0.02 ... 50.11 29.67 BankofAmerica BAC 2.6 11 34.12 –0.82 .22 36.79 21.00 BrookfieldBus BBUC 1.0 2 24.91 –1.61.0625
46.56
58.59
15.52
38.00
AZEK
AZZ
AZEK ...
AZZ 1.7
24
12
17.96
39.85
–1.78 ...
–2.57 .17 26.96 12.44
m er
AngloGoldAsh AU 3.3 10 12.85 –1.25.2935 9.97 9.55 AthenaTechII A ATEK ... dd 9.86 +0.01 ... 41.69
92.38
28.67
70.89
BankofButterfield
BankofHawaii
NTB 5.3
BOH 3.5 14
9 32.94
79.37
–0.49 .44
–0.08 .70
53.64
46.01
37.93
35.81
BrookfieldInfr
BrookfieldInfr
BIPC 2.9
BIP 3.6
30
45
49.10
40.55
+0.32 .36
–1.70 .36
31.69 11.27 Aaron's AAN 3.7 7 12.21 –0.05.1125 67.91 47.23 AB InBev BUD .8 26 49.43 –0.47.3998 123.53 76.55 Atkore ATKR ... 4 79.50 –8.91 ...
8.94 5.45 AnnalyCap NLY 58.3 2 6.04 –0.61 .88 10.02 9.74 AtlStreetAcqn ASAQ ... 23 10.00 +0.01 ... 122.77 90.41 BankofMontreal BMO 3.5 7 95.54 –2.301.0671 44.41 31.10 BrookfieldRenew BEPC 3.2 35 40.23 +0.41 .32
142.60 101.21 AbbottLabs ABT 1.8 22 104.00 –4.48 .47 64.63 39.78 BankNY Mellon BK 3.4 11 43.89 –0.25 .37 74.00 52.91 Brown&Brown BRO .7 28 61.54 –3.87.1025
175.91 105.56 AbbVie ABBV 3.9 20 144.06 +2.64 1.41 39.72 8.39 AnnovisBio ANVS ... dd 19.85 +4.55 ... 16.34 10.13 Atlas ATCO 3.4 8 14.57 –0.17 .125
11.71 8.56 AnteroMidstream AM 8.9 15 10.07 –0.09 .225 9.91 9.65 AtlasCrestII A ACII ... 31 9.84 –0.01 ... 74.86 53.05 BkNovaScotia BNS 5.9 8 53.63 –2.69.7883 76.60 56.97 Brown-Forman A BF.A 1.1 38 71.33 –1.84.1885
48.97 14.02 Abercrombie&Fitch ANF ... 13 15.48 –0.72 ... 46.75 33.90 BankUnited BKU 2.7 9 37.63 –0.01 .25 78.15 60.23 Brown-Forman B BF.B 1.1 38 70.56 –2.92.1885
23.33 14.80 AcadiaRealty AKR 4.7 46 15.33 –1.13 .18 48.80 15.38 AnteroResources AR ... 14 37.55 –2.53 ... 122.96 85.80 AtmosEnergy ATO 2.4 21 114.01 –4.08 .68
21.03 8.68 AnywhereRealEst HOUS ... 4 9.02 –0.95 ... 10.60 2.20 ATRenew RERE ... dd 2.86 –0.06 ... 10.03 9.86 BanyanAcqnA BYN ... 29 9.96 –0.01 ... 103.93 61.89 Brunswick BC 2.0 9 72.59 –1.82 .365
m rp
14.10 8.75 AccelEnt ACEL ... 15 9.02 –0.34 ... 12.20 6.88 Barclays BCS 3.9 ... 7.92 –0.09 .104 57.10 26.50 Buckle BKE 4.2 7 33.62 –0.46 .35
9.92 9.68 AccelerateA AAQC ... 23 9.80 –0.02 ... 341.98 246.21 Aon AON .8 40 277.12 –14.97 .56 4.04 0.35 Audacy AUD ... 12 .42 –0.10 ...
55.82 39.06 AptIncmREIT AIRC 4.4 7 41.21 –1.75 .45 10.16 9.69 AusterlitzI A AUS ... 20 9.79 +0.01 ... 11.55 9.18 BaringsBDC BBDC 9.7 23 9.63 –0.09 .24 12.35 5.09 Buenaventura BVN 1.3 6 6.20 –0.13 .073
417.37 261.77 Accenture ACN 1.4 26 272.68 –17.87 .97 12.01 1.90 Barnes&NobleEduc BNED ... dd 2.62 –0.42 ... 23.50 12.47 Build-A-Bear BBW .0 4 13.66 –0.54 1.25
9.81 9.60 AcropolisInfrA ACRO ... dd 9.70 ... ... 9.79 5.22 ApartmtInv AIV 18.6 6 8.84 –0.29 .02 9.88 9.66 AusterlitzII A ASZ ... 31 9.79 +0.02 ...
48.79 29.60 BarnesGroup B 2.1 42 30.59 –2.04 .16 9.84 9.65 BuildAcqnA BGSX ... 34 9.81 –0.01 ...
224.59 142.71 AcuityBrands AYI .3 15 155.00 –16.52 .13 10.44 9.75 ApeironCapA APN ... 31 10.06 +0.01 ... 52.34 20.49 Autohome ATHM 1.6 18 32.78 –2.09 .53
26.07 14.53 BarrickGold GOLD 3.9 14 15.30 –0.62 .20 86.48 48.91 BuildersFirst BLDR ... 4 55.41 –5.76 ...
57.87 37.46 Acushnet GOLF 1.5 22 48.03 –2.29 .18 26.84 14.13 APi Group APG ... dd 14.94 –1.15 ... 110.59 66.25 Autoliv ALV 3.5 19 73.77 –1.89 .64 82.00 25.75 Bath&BodyWks BBWI 2.1 10 37.82 –1.83 .20
15.98 9.41 ApolloComRlEst ARI 12.5 10 11.18 –0.20 .35 135.57 96.56 AutoNation AN ... 5 109.52 –7.99 ... 128.40 75.81 Bunge BG 2.8 8 89.45 –7.44 .625
13.55 6.78 Adecoagro AGRO 3.9 5 8.13 –0.83.1571 10.41 9.75 BatteryFutureA BFAC ... 22 10.05 –0.01 ... 11.71 7.24 BurfordCapital BUR 3.1 ... 8.10 –0.44.0625
50.96 27.15 Adient ADNT ... 4 32.04 –2.16 ... 81.07 45.97 ApolloGlbMgmt APO 2.9 dd 54.81 –3.30 .40 2362.24 1559.43 AutoZone AZO ... 19 2165.65 –33.43 ...
For personal non-commercial use only. Do not edit or alter. Reproductions not permitted.

20.20 12.20 Bausch+Lomb BLCO ... ... 17.57 +0.40 ... 314.71 133.28 BurlingtonStrs BURL ... 58 141.34 –8.40 ...
10.24 9.67 AditEdTechA ADEX ... cc 9.86 –0.01 ... 9.92 9.66 ApolloStratII A APGB ... 43 9.85 –0.02 ... 190.68 66.39 Avalara AVLR ... dd 92.60 +0.61 ... 29.59 4.00 BauschHealth BHC ... 65 7.38 –0.02 ...
18.69 14.29 AppleHospREIT APLE 5.3 28 15.76 –0.40 .07 259.05 183.35 Avalonbay AVB 3.1 35 201.98 –12.48 1.59 13.18 2.31 ButterflyNtwk BFLY ... dd 5.65 –0.81 ...
41.40 19.14 AdtalemGlbEduc ATGE ... dd 37.27 –0.39 ... 89.70 54.45 BaxterIntl BAX 2.0 29 58.18 –1.35 .29 29.15 21.18 BylineBancorp BY 1.7 10 21.49 –0.49 .09
121.20 80.93 AppliedIndlTechs AIT 1.3 16 104.45 –4.47 .34 53.95 42.20 Avangrid AGR 3.6 21 49.32 –0.33 .44
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244.55 164.00 AdvanceAuto AAP 3.6 19 166.80 –13.85 1.50 7.44 0.91 Beachbody BODY ... dd 1.15 –0.12 ...
153.36 80.81 AdvDrainageSys WMS .4 29 131.78 –8.02 .12 135.81 94.03 Aptargroup ATR 1.5 30 102.64 –3.77 .38 36.44 22.78 AvanosMedical AVNS ... dd 23.25 –2.17 ... 10.39 9.75 BeardEnerA BRD ... dd 9.96 +0.01 ... C
10.19 9.65 AdvMergerPtrsA AMPI ... 42 9.80 –0.03 ... 180.81 84.14 Aptiv APTV ... cc 93.28 –3.46 ... 10.02 9.74 AvantiAcqnA AVAN ... 17 10.01 +0.01 ... 23.97 10.09 BeazerHomes BZH ... 2 12.26 –1.43 ...
57.10 30.86 AdvanSix ASIX 1.7 5 33.68 –2.61 .145 39.95 28.74 Aramark ARMK 1.2 63 37.39 –0.29 .11 44.37 22.33 Avantor AVTR ... 26 22.48 –3.35 ... 277.29 223.49 BectonDicknsn BDX 1.4 43 254.32 –8.53 .87 313.52 238.29 CACI Intl CACI ... 18 279.92 –0.72 ...
6.22 3.90 Aegon AEG 3.8 17 4.65 ....1096 20.74 12.18 ArborRealty ABR 10.2 7 14.67 –0.53 .39 22.47 0.60 Avaya AVYA ... dd 1.88 +0.32 ... 70.97 47.89 Belden BDC .3 33 64.98 –0.99 .05 6.02 2.73 CBD Pao CBD 1.5 3 4.00 –0.22.0713
37.87 20.86 ArcelorMittal MT 1.5 1 22.09 –1.29 .38 229.24 151.62 AveryDennison AVY 1.7 19 173.37 –17.68 .75
F

2.19 0.95 Aenza AENZ ... ... .95 –0.13 ... 32.95 20.36 BellRing BRBR ... 31 23.63 –1.30 ... 48.47 31.38 CBIZ CBZ ... 23 44.29 –0.26 ...
71.38 37.20 AerCap AER ... dd 44.24 –2.86 ... 183.53 73.54 ArchResources ARCH .8 3 122.76 –15.74 5.75 61.46 35.67 Avient AVNT 2.6 13 36.78 –6.56.2375 29.11 21.11 BenchmarkElec BHE 2.6 19 25.58 –1.09 .165 43.50 21.66 CBL&Assoc CBL 3.7 dd 26.85 –3.03 .25
47.35 35.47 AerojetRocket AJRD ... 29 44.24 –1.25 ... 23.75 12.59 ArchaeaEnergy LFG ... dd 19.65 –0.87 ... 46.90 37.73 Avista AVA 4.3 20 40.80 –0.33 .44 10.12 2.45 BensonHill BHIL ... dd 2.86 –0.16 ... 111.00 67.68 CBRE Group CBRE ... 13 76.11 –5.06 ...
10.75 2.47 AevaTech AEVA ... dd 2.58 –0.32 ... 10.00 2.61 ArcherAviation ACHR ... dd 3.01 –0.49 ... 34.12 21.44 AxaltaCoating AXTA ... 26 24.13 –1.90 ... 9.86 9.65 BerensonAcqnI BACA ... 23 9.82 –0.01 ... 13.46 7.41 CCC Intelligent CCCS ... dd 9.10 –0.56 ...
191.62 109.57 AffiliatedMgrs AMG .0 9 122.12 –10.36 .01 98.88 58.60 ArcherDaniels ADM 1.9 13 84.77 –6.70 .40 62.44 34.11 AxosFinancial AX ... 10 39.68 –1.06 ... 72.32 47.13 Berkley WRB .5 14 66.94 –0.69 .10 9.93 9.70 CCNeubergerIII A PRPC ... 23 9.92 +0.01 ...
9.90 9.65 AfricanGoldA AGAC ... 48 9.88 ... ... 10.44 6.99 Archrock AROC 8.1 34 7.14 –0.31 .145 22.00 6.13 Azul AZUL ... dd 9.65 –0.55 ... 544389 396500 BerkHathwy A BRK.A ... 55 414536 –15282 ... 119.60 46.83 CF Industries CF 1.6 8 98.59 –5.09 .40
10.00 9.57 AfterNextA AFTR ... 20 9.79 +0.04 ... 35.74 19.80 Arconic ARNC ... 16 20.22 –6.42 ... 24.61 3.26 AzurePowerGlbl AZRE ... dd 5.97 +0.10 ... 362.10 263.68 BerkHathwy B BRK.B ... 55 274.81 –10.96 ... 10.25 9.87 C5AcqnA CXAC ... ... 10.02 +0.01 ...
177.36 112.52 AgilentTechs A .6 30 129.89 –7.74 .21 8.44 4.33 ArcosDorados ARCO 2.0 14 7.42 –0.16 .03 8.12 1.25 Bark BARK ... dd 1.83 –0.31 ... 31.78 23.15 BerkshireHills BHLB 1.6 11 29.51 +0.56 .12 93.93 73.76 CGI GIB ... 17 78.26 –2.36 ...
26.34 15.64 Agiliti AGTI ... 54 17.45 –0.66 ... 65.80 43.42 Arcosa ACA .4 30 56.15 –2.88 .05 34.27 19.00 B&G Foods BGS 10.0 32 19.00 –1.72 .475 74.73 50.10 BerryGlobal BERY ... 9 51.82 –6.03 ... 22.50 7.77 CI&T CINT ... 67 9.23 –0.02 ...
29.63 14.36 agilon health AGL ... dd 24.22 +0.74 ... 141.97 64.29 BestBuy BBY 4.8 10 72.63 –3.61 .88 24.52 9.92 CI Financial CIXX 5.0 6 11.27 –0.36.1411
67.14 38.02 AgnicoEagle AEM 3.8 24 41.68 –2.43 .40 52.09 18.16 BigLots BIG 6.0 dd 20.14 –2.82 .30 73.76 58.51 CMS Energy CMS 2.8 15 66.84 –3.01 .46
80.44 61.62 AgreeRealty ADC 3.9 38 72.71 –2.05 .234 16.12 1.23 BigBear.ai BBAI ... dd 1.48 +0.06 ... 50.33 37.91 CNA Fin CNA 4.2 10 38.26 –1.80 .40
50.99 29.75 AirLease AL 2.2 dd 34.05 –3.75 .185 851.03 540.33 BiglariA BH.A ... dd 617.01 –4.34 ... 17.13 10.60 CNH Indl CNHI 2.4 11 11.83 –0.68.3072

Five-Day Dow Composite

316.39 216.24 AirProducts APD 2.6 25 247.36 –9.61 1.62 176.72 110.56 BiglariB BH ... dd 122.50 –3.20 ... 26.74 16.56 CNO Financial CNO 2.9 5 19.06 +0.01 .14
160.71 108.35 AlamoGroup ALG .6 18 123.67 –8.08 .18 348.50 89.87 Bill.com BILL ... dd 149.16 –18.23 ... 24.21 11.42 CNX Resources CNX ... dd 16.72 –0.46 ...
9.22 6.51 AlamosGold AGI 1.4 54 7.18 –0.37 .025 151.51 79.01 BiohavenPharm BHVN ... dd 151.07 +0.36 ... 79.17 19.11 CONSOL Energy CEIX .0 18 62.14 –4.39 1.00
63.76 38.19 AlaskaAir ALK ... 27 44.38 –2.18 ... 804.65 445.14 Bio-RadLab A BIO ... dd 448.54 –60.84 ... 54.54 33.13 CRH CRH 3.3 7 35.47 –1.84 .24
97.73 74.77 AlbanyIntl AIN 1.0 21 83.31 –2.70 .21 11.25 0.40 BirdGlobal BRDS ... dd .42 –0.05 ... 58.52 12.11 CS Disco LAW ... dd 12.13 –1.97 ...
308.24 169.93 Albemarle ALB .5 cc 287.32 –13.05 .395 Breaking Bad: The Dow dropped 4.1% as inflation refuses to subside.
n-

9.90 9.64 BiteAcqn BITE ... dd 9.83 –0.02 ... 23.07 17.55 CTO Realty CTO 7.4 16 20.42 +0.08.3733
37.99 25.89 Albertsons ACI 1.8 10 27.37 –2.34 .12 80.95 61.95 BlackHills BKH 3.1 18 76.41 –1.85 .595 43.99 28.72 CTS CTS .4 dd 42.62 +0.05 .04
98.09 39.57 Alcoa AA .9 8 42.46 –10.16 .10 Johnson & Johnson rose 1.1%, while Boeing tumbled 8.4% on concerns 84.27 52.00 BlackKnight BKI ... 20 67.29 –0.45 ... 53.82 13.37 C3.ai AI ... dd 14.03 –0.99 ...
88.78 63.92 Alcon ALC .3 72 66.85 –1.74 .20 10.07 9.76 BlackMountainA BMAC ... dd 10.00 –0.03 ... 20.10 5.22 Curo CURO 7.8 dd 5.62 –0.84 .11
26.57 17.05 Alexander&Baldwin ALEX 4.5 47 17.50 –1.19 .22 that the economy is heading for a recession. 9.86 9.39 BlackSpadeA BSAQ ... 38 9.79 +0.03 ... 43.61 12.84 CVR Energy CVI 5.6 9 28.50 –5.27 2.60
299.99 213.85 Alexanders ALX 7.8 10 231.99 –0.76 4.50 12.39 4.70 BlackBerry BB ... dd 5.72 –0.30 ... 179.74 61.23 CVR Partners UAN .0 4 120.10 –15.0610.05
224.95 130.00 AlexandriaRlEst ARE 3.1 81 150.66 –8.18 1.18 973.16 575.60 BlackRock BLK 3.1 17 626.74 –68.72 4.88 111.25 81.78 CVS Health CVS 2.2 17 102.06 –0.09 .55
182.09 73.28 Alibaba BABA ... 48 86.43 –5.71 ... Monday Tuesday Wednesday Thursday Friday 12.45 1.00 BlackSkyTech BKSY ... dd 1.80 –0.35 ... 1983.69 1020.82 CableOne CABO 1.1 18 1029.40 –68.81 2.85
no

12.64 6.31 Alight ALIT ... dd 7.61 –0.54 ... 149.78 86.97 Blackstone BX 5.6 17 92.18 –7.49 1.27 78.62 47.59 Cabot CBT 2.1 28 69.70 –3.56 .37
862.87 585.10 Alleghany Y ... 33 843.00 +1.99 ... 32,520 34.04 25.99 BlackstoneMtg BXMT 8.6 12 28.75 –0.40 .62 64.18 32.70 Cactus WHD 1.1 33 41.59 –2.80 .11
141.97 89.56 Allegion ALLE 1.8 17 89.69 –9.94 .41 16.35 2.17 BlendLabs BLND ... dd 2.73 –0.35 ... 34.24 22.04 CadenceBank CADE 3.3 15 26.54 +0.38 .22
28.44 3.35 Allego ALLG ... dd 5.79 +1.37 ... 48.76 21.08 BlockHR HRB 2.6 13 44.93 –0.06 .29 28.52 14.16 Cadre CDRE 1.2 dd 25.99 –1.62 .08
68.61 56.55 Allete ALE 4.5 16 58.13 –2.87 .65 (Previous Friday Close) 270.16 56.01 Block SQ ... dd 64.89 –9.40 ... 34.19 17.22 CAE CAE ... 73 17.47 –1.37 ...
57.54 35.20 AllianceBernstein AB 9.0 11 41.97 –2.01 .71 31,940 37.01 11.47 BloomEnergy BE ... dd 25.19 –0.95 ... 31.13 17.82 Caleres CAL 1.1 5 24.93 –0.78 .07
42.00 32.55 AllisonTransm ALSN 2.4 8 35.11 –1.92 .21 12.76 2.27 BlueApron APRN ... dd 5.23 –1.85 ... 51.46 35.95 CaliforniaRscs CRC 1.6 4 43.30 –2.41 .17
144.46 106.11 Allstate ALL 2.6 39 129.42 +2.98 .85 17.89 9.52 BlueOwlCapital OWL 4.0 dd 10.90 –0.66 .11 72.08 48.46 CalWtrSvc CWT 1.7 35 58.27 –0.41 .25
56.28 31.17 AllyFinancial ALLY 3.7 5 32.48 –1.39 .30 36.10 18.47 BluegreenVac BVH 3.2 6 19.04 –1.30 .15 80.95 31.59 Calix CALX ... 19 58.09 +0.09 ...
186.98 42.02 AlphaMetal AMR 1.2 2 130.62 –12.87 .392 100.01 45.86 BlueLinx BXC ... 2 65.06 –6.09 ... 66.48 33.85 CallonPetrol CPE ... 3 40.43 –1.83 ...
21.07 16.61 AlpineIncmProp PINE 6.0 10 18.14 –0.11 .275 31,360 9.93 9.66 BlueRiverA BLUA ... 55 9.90 –0.02 ... 180.37 125.17 CamdenProperty CPT 2.9 17 129.00 –5.84 .94
17.38 8.65 AltaEquipment ALTG 1.9 cc 12.15 –1.04 .057 10.01 9.73 BluescapeOppsAcqn BOAC ... 15 10.01 +0.02 ... 32.49 18.03 Cameco CCJ .3 cc 27.95 –2.26.0625
10.16 9.60 AltC Acqn ALCC ... dd 9.72 ... ... 233.94 113.02 Boeing BA ... dd 144.29 –13.23 ... 51.94 39.76 CampbellSoup CPB 3.1 19 47.69 –0.24 .37
81.30 43.45 Alteryx AYX ... dd 65.23 –3.21 ... 85.17 51.30 BoiseCascade BCC .8 3 59.18 –4.36 .12 46.77 20.85 CampingWorld CWH 8.8 5 28.37 –1.98 .625
26.13 7.58 AlticeUSA ATUS ... 5 8.56 –2.07 ... 30,780 134.50 58.51 BootBarn BOOT ... 10 65.09 –5.18 ... 53.64 16.65 CanadaGoose GOOS ... 27 17.24 –1.85 ...
9.93 9.68 AltimarAcqnIIIA ATAQ ... 28 9.90 +0.01 ... 99.32 69.68 BoozAllen BAH 1.8 25 95.31 –2.20 .43 66.24 45.09 CIBC CM 5.4 9 47.72 –1.29.6397
10.54 9.70 AltimeterGrw2 AGCB ... cc 9.91 ... ... 16.14 1.29 BoqiiHolding BQ ... dd 1.40 –0.13 ... 137.19 106.61 CanNtlRlwy CNI 1.9 20 116.49 –5.52.5555
57.05 41.00 Altria MO 8.9 43 42.29 –3.28 .94 +229.63 -1276.37 +30.12 -173.27 -139.40 50.09 32.28 BorgWarner BWA 1.8 14 36.98 –1.59 .17 70.60 31.71 CanNaturalRes CNQ 4.3 7 53.91 –1.29.5822
12.66 4.26 AltusPower AMPS ... 34 12.14 +0.64 ... 30,200 6.96 1.32 BorrDrilling BORR ... dd 3.91 –0.27 ... 84.22 64.37 CanPacRlwy CP .8 32 73.20 –5.09.1478
17.86 7.24 AmbacFin AMBC ... cc 14.69 –0.17 ... 556.68 287.00 BostonBeer SAM ... dd 326.94 –15.50 ... 4.64 1.95 Cango CANG .0 dd 2.04 –0.07 1.00
3.32 2.42 Ambev ABEV 3.6 17 2.83 –0.17.0839 10 12 2 4 10 12 2 4 10 12 2 4 10 12 2 4 10 12 2 4 44.50 18.68 BostonOmaha BOC ... dd 24.71 –1.70 ... 36.50 17.11 Cannae CNNE ... dd 21.76 –1.67 ...
16.27 1.17 AmbrxBio AMAM ... dd 1.21 –0.17 ... 133.11 78.02 BostonProps BXP 4.7 20 83.43 –2.37 .98 15.58 3.81 CanoHealth CANO ... dd 6.64 –0.19 ...
13.61 10.66 Amcor AMCR 4.1 22 11.66 –0.63 .12 47.50 34.98 BostonSci BSX ... 72 41.70 –1.24 ... 25.79 21.00 Canon CAJ 3.2 13 23.03 –0.12.4395
 September 19, 2022 BARRON’S 43

D ATA NEW YORK STOCK EXCHANGE COMPOSITE LIST B A R R ON S .C OM / D ATA

–52-Week– Tick Div –52-Week– Tick Div –52-Week– Tick Div –52-Week– Tick Div –52-Week– Tick Div
High Low Name Sym Yld P/E Last Chg. Amt. High Low Name Sym Yld P/E Last Chg. Amt. High Low Name Sym Yld P/E Last Chg. Amt. High Low Name Sym Yld P/E Last Chg. Amt. High Low Name Sym Yld P/E Last Chg. Amt.
174.65 98.53 CapitalOne COF 2.4 4 101.68 –6.64 .60 14.25 5.72 ContainerStore TCS ... 4 5.77 –0.83 ... 126.28 74.57 Fabrinet FN ... 18 98.62 –3.61 ... 5.50 2.03 GlobalCordBlood CO ... 4 2.43 +0.21 ...
72.37 36.90 Capri CPRI ... 8 44.49 –5.28 ... 75.49 40.04 ContinentalRscs CLR 1.4 9 69.84 –0.52 .28 E 495.40 345.92 FactSet FDS .8 44 446.02 –7.36 .89 27.99 23.32 GlobalIndemnity GBLI 4.2 dd 23.90 –1.10 .25
72.28 45.85 CardinalHealth CAH 3.0 dd 66.86 –3.03.4957 23.32 8.09 Volaris VLRS ... dd 8.68 –0.60 ... 531.03 340.48 FairIsaac FICO ... 34 465.95 +14.18 ... 45.21 27.05 GlobalIndl GIC 2.5 10 29.33 –0.88 .18
23.59 15.90 CareTrustREIT CTRE 5.5 cc 20.11 –1.00 .275 10.73 3.75 ConveyHealth CNVY ... dd 10.50 –0.02 ... 9.94 9.60 EG Acqn A EGGF ... 36 9.76 ... ... 11.30 9.76 FarPeakAcqnA FPAC ... 17 9.89 +0.03 ... 18.51 10.21 GlobalMedREIT GMRE 8.0 55 10.53 –0.39 .21
318.71 195.68 Carlisle CSL 1.0 21 291.30 –17.43 .75 444.22 283.03 Cooper COO .0 34 291.45 –23.25 .03 40.89 20.49 elfBeauty ELF ... 76 39.37 +0.49 ... 47.30 6.52 Farfetch FTCH ... 3 10.38 –0.50 ... 16.70 12.79 GlobalNetLease GNL 12.1 dd 13.27 –0.30 .40
155.98 83.08 CarMax KMX ... 14 84.73 –6.27 ... 28.06 3.53 Cooper-Standard CPS ... dd 7.72 –0.44 ... 135.98 95.64 EMCOR EME .5 17 118.05 –4.02 .15 16.43 10.62 FarmlandPtrs FPI 1.7 dd 14.14 –0.50 .06 30.26 20.01 GlobalPtnrs GLP 8.6 4 28.26 –1.09 .605
27.39 8.10 Carnival CCL ... dd 10.76 +0.36 ... 97.63 55.25 Copa CPA ... 11 73.90 –0.17 ... 32.56 20.88 ENI E 5.5 3 22.90 –0.70.3107 58.62 8.28 Fastly FSLY ... dd 9.28 –0.51 ... 165.17 105.52 GlobalPayments GPN .8 cc 130.68 –1.95 .25
24.89 7.43 Carnival CUK ... dd 9.51 +0.24 ... 32.54 20.00 Core&Main CNM ... 12 23.28 –0.99 ... 147.99 70.41 EOG Rscs EOG 2.5 12 121.45 –1.91 1.50 11.50 2.37 FathomDigital FATH ... 3 2.39 –0.76 ... 30.02 14.62 GlobalShipLease GSL 8.3 3 18.04 –1.74 .375
44.96 24.76 CarpenterTech CRS 2.2 dd 36.03 +0.14 .20 35.83 15.21 CoreLabs CLB .2 90 16.59 –1.50 .01 725.40 168.59 EPAM Systems EPAM ... 65 402.07 –30.37 ... 124.37 87.50 FedAgriMtg A AGM.A 3.9 8 97.25 –1.43 .95 354.62 159.56 Globant GLOB ... 70 209.02 –21.22 ...
66.33 32.79 CarriageSvcs CSV 1.3 11 34.09 –1.36.1125 21.05 20.00 CorebridgeFin CRBG ... ... 20.72 ... ... 56.38 40.68 EPR Prop EPR 7.9 23 41.52 –2.24 .275 137.01 90.38 FedAgriMtg C AGM 3.6 8 105.02 –1.44 .95 108.61 85.25 GlobeLife GL .8 15 102.26 –0.49.2075
57.97 34.12 CarrierGlobal CARR 1.6 12 38.44 –3.73 .15 49.14 20.45 CoreCard CCRD ... 12 22.34 –2.18 ... 9.88 9.65 EQ Health A EQHA ... 28 9.85 ... ... 140.51 92.02 FederalRealty FRT 4.3 29 100.34 –3.60 1.08 81.82 52.60 GlobusMedical GMED ... 41 60.96 –1.85 ...
19.09 8.75 Cars.com CARS ... cc 11.11 –0.74 ... 14.24 8.23 CoreCivic CXW ... 14 9.74 +0.07 ... 51.97 17.95 EQT EQT 1.3 dd 46.06 –2.29 .15 48.88 31.86 FederalSignal FSS .9 23 38.76 –1.88 .09 88.32 64.81 GoDaddy GDDY ... 36 74.96 –3.09 ...
111.17 67.88 Carter's CRI 4.2 10 71.58 –5.18 .75 5.49 2.10 CorEnergyInfr CORR 9.2 dd 2.17 –0.15 .05 58.08 36.97 ESAB ESAB .5 ... 37.50 –3.40 .05 39.82 27.88 FederatedHermes FHI 3.2 13 33.83 –1.62 .27 11.01 9.86 GoGreenInvtsA GOGN ... dd 10.12 +0.01 ...
343.18 19.45 Carvana CVNA ... dd 32.92 –3.70 ... 43.47 30.63 Corning GLW 3.4 14 32.06 –1.58 .27 96.01 60.03 ESCO Tech ESE .4 28 78.03 –4.81 .08 266.79 155.00 FedEx FDX 2.9 11 161.02 –48.05 1.15 17.20 7.24 GoldFields GFI 3.7 7 7.51 –0.93 .172
142.09 86.11 Catalent CTLT ... 32 89.94 –6.03 ... 7.15 5.00 CorpAmAirports CAAP ... ... 6.96 +0.03 ... 9.90 9.67 ESM Acqn A ESM ... 41 9.89 +0.01 ... 183.67 105.08 Ferguson FERG 2.2 ... 111.93 –6.60 .84 9.94 9.67 GoldenFalconA GFX ... 20 9.93 +0.01 ...
9.95 9.68 CatchaInvtA CHAA ... ... 9.90 –0.02 ... 29.64 23.89 CorpOfficeProp OFC 4.3 28 25.47 –1.06 .275 28.92 2.59 ESSTech GWH ... dd 4.86 +0.80 ... 278.78 167.45 Ferrari RACE ... 36 196.90 +1.10 ... 20.60 15.87 GoldmanSachsBDC GSBD10.7 13 16.89 –0.20 .45
237.90 167.08 Caterpillar CAT 2.7 14 179.47 –10.02 1.20 9.95 9.60 CorsairPtrA CORS ... 29 9.75 +0.01 ... 13.32 6.07 E2open ETWO ... dd 7.05 –0.07 ... 56.44 34.59 FidNatlFin FNF 4.4 6 40.13 –1.64 .44 426.16 277.84 GoldmanSachs GS 3.1 7 326.21 –13.89 2.50

.
19.89 9.07 Cato CATO 7.1 21 9.64 –0.07 .17 64.30 40.72 Corteva CTVA 1.0 26 61.35 –1.17 .15 169.15 105.34 EagleMaterials EXP .9 12 111.43 –9.63 .25 126.20 82.98 FidNatlInfo FIS 2.2 61 84.26 –7.22 .47 47.12 24.64 Gorman-Rupp GRC 2.7 30 25.43 –1.61 .17
10.13 0.45 Cazoo CZOO ... ... .63 –0.06 ... 20.97 11.95 Cosan CSAN 4.5 7 13.55 –1.02.2635 22.25 7.85 EarthstoneEner ESTE ... 8 14.09 –0.52 ... 9.95 9.71 FigureAcqnI A FACA ... 29 9.83 –0.01 ... 81.09 56.48 Graco GGG 1.4 24 61.97 –4.20 .21

ly
62.56 37.78 CedarFairRec FUN 2.7 31 44.63 +1.17 .30 18.01 10.22 Costamare CMRE 4.5 3 10.33 –0.75 .115 23.65 17.48 EasterlyGovtProp DEA 5.9 55 17.90 –0.38 .265 5.99 1.20 FinanceofAm FOA ... dd 1.51 +0.12 ... 10.01 9.63 GrafAcqnIV GFOR ... 21 9.75 ... ...
176.50 100.11 Celanese CE 2.7 6 102.43 –12.86 .68 36.55 18.39 CoterraEnergy CTRA 9.1 8 28.74 –1.03 .50 229.84 148.33 EastGroup EGP 3.2 30 156.46 –14.35 1.25 10.29 9.64 FinTechEvolA FTEV ... 28 9.90 +0.01 ... 13.38 5.17 GrafTechIntl EAF .8 3 5.30 –0.62 .01
13.40 8.03 Celestica CLS ... 9 9.45 –0.71 ... 11.12 5.90 Coty COTY ... cc 7.69 –0.17 ... 129.48 77.74 EastmanChem EMN 3.8 9 79.13 –14.52 .76 7.33 2.68 FinVolution FINV 4.1 4 4.48 –0.06 .205 13.97 6.51 Graham GHM 4.8 dd 9.25 –0.71 .11
7.00 4.39 CementosPacasm CPAC ... 9 4.79 –0.19 ... 30.94 8.98 Coupang CPNG ... dd 17.64 –0.48 ... 7.83 3.46 EastmanKodak KODK ... 87 5.22 –0.21 ... 81.54 48.81 FirstAmerFin FAF 4.1 6 50.56 –3.31 .52 675.00 533.77 GrahamHoldings GHC 1.1 18 553.29 –8.20 1.58
7.58 3.22 Cemex CX ... 16 3.64 –0.32 ... 38.20 10.71 Coursera COUR ... dd 11.56 –0.94 ... 175.72 122.50 Eaton ETN 2.3 24 138.27 –7.44 .81 16.62 11.66 FirstBanCorp FBP 3.3 10 14.43 –0.01 .12 588.62 391.16 Grainger GWW 1.3 21 526.16 –46.58 1.72
24.91 8.18 CenovusEnergy CVE ... 12 18.54 +0.11 ... 42.41 26.33 CousinsProperties CUZ 4.8 14 26.87 –1.55 .32 238.93 143.82 Ecolab ECL 1.3 41 157.64 –15.00 .51 17.63 12.36 FirstCmwlthFin FCF 3.5 10 13.59 +0.04 .12 43.98 27.40 GraniteConstr GVA 1.9 51 27.87 –2.09 .13
98.53 60.81 Centene CNC ... 27 84.28 –7.71 ... 114.87 82.14 Crane CR 2.1 10 90.84 –5.17 .47 19.81 9.31 Ecopetrol EC 14.2 3 10.25 –0.52.7966 4.12 0.59 First HS Educ FHS ... 3 .78 –0.02 ... 14.10 8.40 GranitePointMtg GPMT 11.6 59 8.61 –0.49 .25

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33.23 24.33 CenterPointEner CNP 2.2 13 32.04 –0.81 .18 9.96 5.50 Crawford A CRD.A 4.1 13 5.79 –0.19 .06 13.79 8.32 Ecovyst ECVT ... 12 8.42 –1.04 ... 24.24 14.67 FirstHorizon FHN 2.6 16 23.33 +0.09 .15 24.07 17.63 GraphicPkg GPK 1.4 23 21.31 –2.00 .075
10.57 4.07 CenterraGold CGAU 5.0 3 4.28 –0.44 .054 9.33 5.59 Crawford B CRD.B 4.3 12 5.63 –0.15 .06 51.86 32.00 EdgewellPersonal EPC 1.6 19 37.43 –1.89 .15 66.74 45.80 FirstIndRlty FR 2.3 21 50.40 –2.63 .295 3.16 0.52 GravitasEduc GEHI ... 2 .56 –0.05 ...
112.27 73.08 Centerspace CSR 3.9 dd 74.75 –3.42 .73 182.11 103.01 Credicorp BAP 4.0 9 129.23 –1.623.9936 73.32 54.98 EdisonInt EIX 4.1 51 67.52 –1.58 .70 10.55 9.73 FirstLightAcqnA FLAG ... 31 9.93 –0.19 ... 25.24 16.13 GrayTelevision GTN 1.7 14 18.47 –0.66 .08
9.80 5.17 CentraisElBras EBR 3.5 11 8.45 –0.38.1306 11.04 4.91 CreditSuisse CS .7 dd 5.23 –0.19.0528 131.73 85.58 EdwardsLife EW ... 40 93.35 –3.90 ... 14.67 6.31 FirstMajestic AG .3 dd 7.67 –0.37.0061 23.75 14.51 GrayTelevision A GTN.A 1.9 13 16.82 +0.12 .08
30.97 20.61 CentralPacFin CPF 4.6 8 22.43 +0.17 .26 19.65 10.86 CrescentEnergy CRGY 4.1 ... 15.02 –0.83 .17 25.19 4.22 8x8 EGHT ... dd 4.26 –0.47 ... 222.86 133.37 FirstRepBank FRC .8 17 141.74 –14.18 .27 14.74 8.68 GreatAjax AJX 11.7 21 9.23 +0.14 .27
5.10 2.73 CentralPuerto CEPU ... 15 4.56 –0.29 ... 10.96 3.66 CrescentPoint CPG 3.5 3 6.95 –0.15.0613 35.00 13.94 ElancoAnimal ELAN ... dd 14.75 –0.25 ... 48.85 35.32 FirstEnergy FE 3.8 17 41.20 –0.31 .39 32.25 16.80 GreenBrickPtrs GRBK ... 4 23.00 –1.01 ...
86.07 39.00 CenturyComm CCS 1.7 3 45.89 –0.76 .20 32.96 22.88 CrestwoodEquity CEQP 8.8 dd 29.74 +1.61 .655 189.84 50.74 Elastic ESTC ... dd 81.88 –8.16 ... 12.30 5.55 FiscalNote NOTE ... dd 8.12 +0.18 ... 52.13 19.12 GreenDot GDOT ... 23 20.85 –0.36 ...
130.37 43.23 CeridianHCM CDAY ... dd 58.94 –4.63 ... 25.33 9.73 CrossTimbers CRT 7.9 14 22.09 +0.46.2306 12.49 5.21 EldoradoGold EGO ... dd 5.73 –0.20 ... 23.75 7.95 Fisker FSR ... dd 8.94 +0.34 ... 53.46 27.48 Greenbrier GBX 3.9 16 27.98 –1.26 .27

us ,
29.42 11.89 ChannelAdvisor ECOM ... 18 22.83 –0.09 ... 209.87 153.70 CrownCastle CCI 3.6 46 163.22 –11.33 1.47 26.92 16.25 ElementSolns ESI 1.8 27 17.95 –1.38 .08 8.20 3.26 FivePoint FPH ... dd 3.30 –0.15 ... 20.32 6.89 Greenhill GHL 5.7 19 7.07 –0.65 .10
5.81 2.21 CharahSolutions CHRA ... dd 2.68 –0.22 ... 130.42 85.85 CrownHoldings CCK .9 dd 93.91 –4.82 .22 533.68 363.37 ElevanceHealth ELV 1.1 19 480.23 –13.37 1.28 210.55 29.04 FiverrIntl FVRR ... dd 32.41 –4.26 ... 9.18 3.27 GreenTree GHG 13.7 12 3.86 –0.20 .53

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28.72 8.50 ChargePoint CHPT ... dd 17.97 +0.29 ... 9.99 9.62 CrownPropA CPTK ... cc 9.90 ... ... 4.26 1.19 ElevateCredit ELVT ... dd 1.21 –0.17 ... 56.77 32.71 Flagstar FBC .6 6 37.12 –1.65 .06 72.80 53.65 Greif A GEF 3.1 10 63.87 –4.46 .50
460.21 196.90 CharlesRiverLabs CRL ... 23 199.71 –18.53 ... 9.91 9.67 CrucibleAcqnA CRU ... 27 9.89 +0.01 ... 18.95 12.74 EllingtonFin EFC 12.4 dd 14.48 –0.32 .15 10.05 9.65 FlameAcqnA FLME ... 19 9.83 +0.02 ... 71.62 53.45 Greif B GEF.B 4.7 7 63.46 –3.09 .75

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218.95 108.29 ChartIndustries GTLS ... cc 201.34 +0.56 ... 57.34 38.67 CubeSmart CUBE 4.0 40 43.35 –3.64 .43 12.44 6.40 EllingtonResiMtg EARN12.2 dd 7.85 +0.02 .08 282.02 198.91 FleetCorTech FLT ... 17 202.56 –17.90 ... 34.92 17.56 Griffon GFF 1.1 13 31.75 –2.63 .09
15.12 9.59 ChathamLodging CLDT ... dd 12.56 –0.06 ... 147.39 106.66 Cullen/Frost CFR 2.5 21 138.25 –2.97 .87 9.91 9.63 ElliottOppIIA EOCW ... 30 9.83 –0.05 ... 36.99 15.85 FlexLNG FLNG 9.3 8 32.13 –1.21 .50 212.23 145.72 Group1Auto GPI .9 4 160.25 –10.25 .38
9.15 2.77 CheetahMobile CMCM ... dd 2.92 –0.17 ... 14.31 4.04 Culp CULP 10.1 dd 4.57 –0.06 .115 11.88 8.60 EmbotellAndinaA AKO.A13.9 7 9.12 –0.55.1281 145.89 59.91 Floor&Decor FND ... 31 79.87 –4.75 ... 12.50 3.75 GroveCollab GROV ... dd 6.95 +1.09 ...
78.89 15.66 Chegg CHGG ... 72 21.13 –1.94 ... 247.48 184.28 Cummins CMI 3.0 15 211.19 –7.28 1.57 14.14 9.63 EmbotellAndinaB AKO.B12.6 8 11.09 –0.23.1409 1.97 0.53 FlotekIndustries FTK ... dd 1.13 ... ... 167.24 112.88 GpoAeroportuar PAC 2.2 25 143.98 –2.363.1501
19.40 7.91 Embraer ERJ ... cc 10.13 –0.45 ...

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539.87 403.00 Chemed CHE .3 27 480.29 +4.45 .38 162.98 118.88 CurtissWright CW .5 22 145.00 –6.64 .19 29.73 22.78 FlowersFoods FLO 3.4 26 26.04 –0.66 .22 230.80 176.77 GpoAeroportSur ASR 3.6 15 215.37 –4.644.5984
44.95 22.56 Chemours CC 3.2 6 31.49 –4.24 .25 23.54 13.90 Cushman&Wkfd CWK ... 9 14.06 –1.36 ... 5.10 2.42 EmeraldHldg EEX ... dd 3.83 +0.40 ... 38.39 26.78 Flowserve FLS 2.9 37 27.17 –4.27 .20 6.15 2.75 GpoAvalAcc AVAL68.0 4 2.84 –0.11.2855
9.55 6.06 CherryHillMtg CHMI 17.1 18 6.33 –0.05 .27 11.36 4.54 CustomTruck CTOS ... dd 6.57 –0.45 ... 57.65 21.86 EmergentBiosol EBS ... 14 22.95 –2.12 ... 31.32 14.41 Fluor FLR ... dd 26.33 –1.51 ... 2.54 1.20 GpoSupervielle SUPV 1.6 dd 1.83 –0.12.0151
146.30 117.43 ChesapeakeUtil CPK 1.7 26 128.23 +0.51 .535 76.13 31.35 CustomersBancorp CUBI ... 3 32.74 –1.15 ... 100.47 76.16 EmersonElec EMR 2.6 15 78.21 –6.50 .515 89.43 58.73 FomentoEconMex FMX 2.2 25 65.33 –1.00.5677 12.60 5.92 GrupoTelevisa TV ... 12 5.98 –0.45 ...
182.40 93.31 Chevron CVX 3.6 10 156.45 –3.52 1.42 11.07 6.53 EmpireStateRealty ESRT 1.9 dd 7.43 +0.03 .035 57.76 23.85 FootLocker FL 4.1 8 39.14 +0.76 .40 25.27 15.67 Guess GES 5.6 8 16.13 –1.13 .225
80.58 22.22 ChewyA CHWY ... dd 35.17 –0.81 ... D 43.46 36.18 EmployersHldgs EIG 2.8 20 36.94 –1.34 .26 25.87 10.61 FordMotor F 4.1 5 14.72 –0.70 .15 128.98 64.30 Guidewire GWRE ... dd 64.72 –4.76 ...
7.19 3.80 Chico'sFas CHS ... 6 4.97 –0.41 ... 9.91 9.69 Empower&IncA EPWR ... 24 9.89 +0.02 ... 9.95 9.65 ForestRoadII A FRXB ... 36 9.81 ... ... 16.07 7.18 GuildHldgs GHLD .0 2 11.18 –1.00 1.00
16.85 7.57 ChimeraInvt CIM 16.8 dd 7.85 –0.46 .33 9.89 9.67 D&ZMediaA DNZ ... 34 9.86 +0.01 ... 7.89 3.88 EmpresaDisCom EDN ... dd 6.47 –0.23 ... 22.60 11.94 Forestar FOR ... 4 12.25 –0.28 ... 108.10 60.46 GulfportEnergy GPOR ... dd 93.27 –2.88 ...
21.63 15.77 ChinaEastrnAir CEA ... dd 16.73 –0.29 ... 39.54 23.58 DCP Midstream DCP 4.5 10 37.99 –0.60 .43 47.67 36.21 Enbridge ENB 6.6 21 40.99 –0.83.6748 47.50 3.11 ForgeGlobal FRGE ... dd 3.55 –0.83 ...
12.48 4.29 ChinaGreenAg CGA ... dd 7.51 –0.09 ... 7.57 4.12 DHI Group DHX ... cc 5.73 –0.01 ... 62.27 42.17 EncompassHealth EHC 1.2 16 50.91 –1.29 .28 48.88 11.94 ForgeRock FORG ... dd 16.07 –1.37 ... H

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3.17 0.76 ChinaOnlineEduc COE ... dd 2.10 –0.04 ... 8.92 4.55 DHT DHT 1.1 dd 8.71 +0.22 .04 172.41 78.17 Endava DAVA ... 46 78.65 –17.49 ... 51.66 42.42 Fortis FTS 3.9 21 42.85 –2.03.4139
35.15 23.50 ChinaSoAirlines ZNH ... dd 26.43 +0.54 ... 10.96 5.11 DRDGOLD DRD ... 7 5.45 –0.21 ... 35.28 17.42 Endeavor EDR ... 17 23.08 –2.85 ... 79.87 52.47 Fortive FTV .4 35 62.72 –3.30 .07 279.02 164.47 HCA Healthcare HCA 1.1 10 209.67 –10.03 .56
15.35 7.90 ChinaYuchai CYD 5.1 19 7.91 –0.33 .40 140.23 108.22 DTE Energy DTE 2.7 33 129.90 –5.60 .885 5.95 2.72 EndeavourSilver EXK ... dd 3.04 –0.07 ... 9.98 9.69 FortressCapA FCAX ... 26 9.93 +0.01 ... 139.80 44.91 HCI Group HCI 3.1 dd 50.99 +2.68 .40
To reprint or license content, please contact Barron's reprints department at 800-843-0008 or www.djreprints.com

1958.55 1196.28 Chipotle CMG ... 63 1693.57 –29.75 ... 59.36 43.63 DT Midstream DTM 4.4 16 55.96 –1.23 .64 2.53 0.98 EnelChile ENIC .9 28 1.72 –0.09.0154 9.91 9.70 FortressVal III A FVT ... 25 9.88 ... ... 78.43 50.61 HDFC Bank HDB .8 23 64.92 +0.47.5805
13.23 5.40 D-WaveQuantum QBTS ... cc 6.64 –0.14 ... 58.50 29.14 HF Sinclair DINO 3.2 6 49.49 –3.64 .40
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45.87 37.38 ChunghwaTel CHT 6.4 22 37.55 –1.391.237 22.10 3.97 EnergyVault NRGV ... dd 4.47 +0.04 ... 109.23 56.86 FortBrandsHome FBHS 1.9 11 59.98 –4.71 .28
105.28 76.32 Church&Dwight CHD 1.4 24 76.54 –5.02.2625 331.69 233.71 Danaher DHR .4 33 277.06 –13.36 .25 23.84 16.25 EnerpacTool EPAC .2 97 17.37 –2.03 .04 30.99 14.71 ForumEnergyTech FET ... dd 24.78 –1.14 ... 44.50 29.28 HNI HNI 4.3 18 30.04 –2.30 .32
10.08 9.71 ChurchillCapV A CCV ... 15 9.90 ... ... 107.47 55.71 Danaos DAC 4.7 2 63.77 –6.25 .75 18.58 5.89 Enerplus ERF 1.1 7 15.42 +0.15 .05 30.13 24.24 FourCornersProp FCPT 5.0 22 26.76 +0.13.3325 41.47 26.11 HP HPQ 3.7 5 27.23 –1.03 .25
10.31 9.71 ChurchillVI A CCVI ... 26 9.83 +0.01 ... 20.40 3.09 DanimerScientific DNMR ... dd 3.76 –0.56 ... 86.82 55.60 EnerSys ENS 1.1 20 62.30 –2.92 .175 29.40 6.41 FourSeasonsEduc FEDU ... dd 14.11 +0.10 ... 10.20 9.78 HPX A HPX ... 27 9.96 +0.05 ...
9.88 9.68 ChurchillVII A CVII ... 26 9.80 +0.01 ... 81.10 32.20 DaqoNewEnergy DQ ... 3 56.38 –8.57 ... 17.95 4.81 Eneti NETI .5 19 7.73 –0.22 .01 169.32 115.44 Franco-Nevada FNV 1.1 30 118.21 –7.76 .32 38.61 24.31 HSBC HSBC 4.4 9 30.46 –0.44 .45
78.28 41.11 Ciena CIEN ... 33 41.85 –2.48 ... 164.28 110.96 Darden DRI 3.5 18 129.68 –1.36 1.21 23.21 7.80 Enfusion ENFN ... dd 12.51 –0.09 ... 17.74 11.59 FrankBSPRealty FBRT 11.3 dd 11.74 –0.61 .355 10.23 2.79 HUYA HUYA ... 25 2.87 –0.13 ...
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296.29 191.74 Cigna CI 1.5 17 290.35 –2.49 1.12 87.59 55.71 DarlingIngred DAR ... 17 73.22 –4.75 ... 38.83 15.64 EngageSmart ESMT ... dd 19.26 –2.04 ... 54.10 34.00 FranklinCovey FC ... 48 49.46 +0.69 ... 79.45 43.50 Haemonetic HAE ... 58 76.77 –0.10 ...
23.15 12.98 Cinemark CNK ... dd 13.57 –0.50 ... 124.81 74.97 DaVita DVA ... 12 92.82 +0.20 ... 25.25 11.65 Enhabit EHAB ... ... 14.89 –1.51 ... 38.27 22.61 FranklinRscs BEN 4.8 7 24.14 –2.24 .29 19.97 7.23 Hagerty HGTY ... dd 10.13 –1.40 ...
36.48 13.26 CircorIntl CIR ... dd 16.82 –0.65 ... 451.49 212.93 DeckersOutdoor DECK ... 21 337.20 –11.50 ... 22.67 16.55 Ennis EBF 4.9 16 20.23 –0.57 .25 9.95 9.64 FreedomI A FACT ... 55 9.95 +0.06 ... 8.50 5.59 Haleon HLN ... ... 5.88 –0.12 ...
73.72 43.44 Citigroup C 4.2 6 48.11 –2.56 .51 446.76 283.81 Deere DE 1.3 18 354.50 –17.75 1.13 47.88 25.80 EnovaIntl ENVA ... 6 33.34 –2.38 ... 51.99 24.80 FreeportMcM FCX 1.8 9 29.33 –2.84 .075 43.99 19.12 Halliburton HAL 1.7 18 28.19 –1.47 .12
57.00 34.35 CitizensFin CFG 4.6 9 36.87 –1.45 .42 64.47 39.00 DelekLogistics DKL 7.0 16 56.01 –4.94 .985 94.03 47.73 Enovis ENOV ... 24 51.29 –0.26 ... 36.84 16.06 FreseniusMed FMS 3.0 11 16.67 –0.14.7085 20.36 9.18 HamiltonBeach HBB 3.5 5 11.91 +0.58 .105
6.99 2.45 Citizens CIA ... 6 3.52 –0.11 ... 35.23 14.07 DelekUS DK .0 5 25.88 –3.67 .20 10.05 9.57 EnphysAcqnA NFYS ... 47 9.75 +0.05 ... 34.00 22.63 FreshDelMonte FDP 2.4 32 24.90 –0.74 .15 19.54 8.34 Hanesbrands HBI 7.1 7 8.44 –0.73 .15
21.70 11.05 CityOfficeREIT CIO 6.9 1 11.59 ... .20 61.54 36.74 DellTechC DELL ... 5 37.96 –1.83 ... 117.63 76.14 EnPro NPO 1.2 10 89.89 –1.63 .28 13.49 6.10 Frontline FRO 4.7 41 12.79 +0.01 .15 22.93 13.42 Hanger HNGR ... 20 18.66 ... ...
For personal non-commercial use only. Do not edit or alter. Reproductions not permitted.

32.06 17.69 Civeo CVEO ... 20 27.32 –0.68 ... 46.27 28.10 DeltaAir DAL ... 35 32.11 –0.55 ... 126.82 98.50 Entergy ETR 3.5 19 115.42 –4.52 1.01 35.10 2.32 fuboTV FUBO ... dd 4.46 +0.03 ... 65.74 28.68 HannonArmstrong HASI 4.0 38 37.94 –2.26 .375
84.76 41.37 CivitasRsrcs CIVI 3.0 6 61.97 –3.57 1.30 38.71 17.39 Deluxe DLX 6.7 13 17.84 –1.14 .30 28.65 20.42 EnterpriseProd EPD 7.4 12 25.80 –0.90 .475 17.55 4.12 FullTruck YMM ... dd 6.55 –0.32 ... 155.55 121.69 HanoverIns THG 2.2 15 135.93 +3.39 .75
25.63 10.55 Clarivate CLVT ... dd 10.57 –1.74 ... 93.95 56.59 Denbury DEN ... 13 83.33 –5.38 ... 9.34 4.21 Entravision EVC 2.2 15 4.64 –0.41 .025 81.73 57.36 FullerHB FUL 1.3 18 59.80 –7.58 .19 44.46 29.80 HarleyDavidson HOG 1.5 10 40.71 –0.36.1575
co o

21.09 14.96 ClarosMtg CMTG 9.8 13 15.04 –1.84 .37 19.38 11.24 DesignerBrands DBI 1.2 7 16.33 –1.05 .05 85.99 48.97 Envestnet ENV ... dd 50.23 –3.02 ... 9.87 9.65 FusionAcqnIIA FSNB ... 30 9.82 –0.01 ... 5.50 2.00 HarmonyGold HMY 1.5 15 2.17 –0.22.0274
9.90 9.66 ClassAccelA CLAS ... 23 9.88 +0.03 ... 9.69 1.26 DesktopMetal DM ... dd 3.19 –0.31 ... 52.03 34.10 Envista NVST ... 22 34.30 –3.59 ... 10.63 6.14 FutureFuel FF 3.7 18 6.43 –0.23 .06 18.28 4.36 Harsco HSC ... dd 5.02 –0.93 ...
124.49 81.56 CleanHarbors CLH ... 21 115.99 –6.42 ... 13.37 6.66 Despegar.com DESP ... dd 7.21 –0.94 ... 91.06 51.46 Enviva EVA 5.2 dd 68.93 –1.85 .905 78.17 61.59 HartfordFinl HIG 2.4 11 65.35 –1.67 .385
4.10 0.91 ClearChannelOutdr CCO ... dd 1.81 +0.07 ... 16.70 7.54 DeutscheBank DB 2.3 6 9.09 +0.13.1559 4.15 1.98 EnzoBiochem ENZ ... dd 2.67 +0.31 ... G 37.40 22.77 HavertyFurn HVT 4.2 5 26.74 –0.42 .28
54.19 18.79 ClearSecure YOU ... dd 23.26 –2.84 ... 79.40 27.40 DevonEnergy DVN 7.0 9 66.82 –1.69 1.37 36.87 24.55 HavertyFurn A HVT.A 4.0 5 25.99 –0.78 .26
F

300.11 169.25 Equifax EFX .9 30 183.25 –13.91 .39

27.68 11.23 ClearwaterAnalytic CWAN ... dd 15.77 –0.12 ... 223.14 166.24 Diageo DEO 2.2 23 173.91 –4.302.2775 42.53 22.76 Equinor EQNR 1.7 7 35.08 –0.91 .40 29.80 18.30 GAMCO Investors GBL .8 7 20.02 –0.63 .04 44.72 37.87 HawaiianElec HE 3.7 17 38.26 –1.73 .35
46.48 25.07 ClearwaterPaper CLW ... 16 40.11 –2.19 ... 12.04 5.17 DiamondOffshore DO ... dd 7.60 –0.11 ... 37.13 24.61 Equitable EQH 2.7 4 29.22 –1.34 .20 127.58 84.50 GATX GATX 2.2 19 96.40 +0.36 .52 28.65 10.07 Hayward HAYW ... 10 10.08 –1.30 ...
38.65 27.83 ClearwayEnergyA CWEN.A 3.6 8 35.41 –0.66.3604 11.15 7.68 Diamondrock DRH .0 40 8.91 –0.26 .03 11.52 5.87 EquitransMdstm ETRN 6.6 dd 9.15 –0.29 .15 10.16 9.72 G&P Acqn A GAPA ... 23 10.00 ... ... 34.83 22.45 HealthcareRealty HR 1.9 81 23.11 –1.50 .109
41.79 29.61 ClearwayEnergyC CWEN 3.5 8 38.47 –0.72.3604 6.89 3.31 DianaShipping DSX 17.4 3 4.73 –0.18 .275 28.84 25.00 EquityCommnwlth EQC .0 dd 27.07 +0.32 1.00 32.28 20.76 GCPAppliedTechs GCP ... cc 31.45 –0.07 ... 36.85 23.23 HealthpeakProp PEAK 4.7 75 25.72 –1.64 .30
34.04 14.32 Cleveland-Cliffs CLF ... 2 15.00 –3.73 ... 142.78 63.45 Dick's DKS 1.7 10 111.64 –4.92.4875 10.03 9.78 EquityDistrA EQD ... 24 10.02 +0.02 ... 9.81 5.21 GEO Group GEO ... 16 8.18 –0.25 ... 10.10 9.78 HeartlandMediaA HMA ... 35 9.99 ... ...
9.97 9.68 ClimateReal II A CLIM ... 42 9.88 –0.01 ... 11.29 2.12 DieboldNixdorf DBD ... dd 3.10 +0.04 ... 88.70 67.57 EquityLife ELS 2.3 46 70.40 –2.24 .41 43.71 24.00 GFLEnvironmental GFL .2 dd 28.02 –2.38 .012 7.66 3.44 HeclaMining HL .4 cc 4.01 –0.16.0062
10.41 7.29 ClipperRealty CLPR 4.7 dd 8.05 –0.44 .095 7.85 1.05 DigitalMedia DMS ... dd 1.94 –0.26 ... 94.32 67.48 EquityResdntl EQR 3.4 22 73.11 –4.11 .625 61.79 36.10 GMS GMS ... 6 43.77 –1.88 ... 165.61 124.65 Heico HEI .1 60 148.58 –8.48 .09
5.00 0.55 CloopenGroup RAAS ... ... 1.02 +0.03 ... 178.22 111.00 DigitalRealty DLR 4.4 25 112.08 –12.37 1.22 2.72 1.92 EquusTotReturn EQS ... 11 1.94 –0.12 ... 8.38 2.74 GOL Linhas GOL .0 dd 3.83 –0.38.0023 139.65 102.33 Heico A HEI.A .2 48 119.46 –7.04 .09
186.86 120.50 Clorox CLX 3.3 38 141.77 –6.39 1.18 34.20 16.19 DigitalBridge DBRG .2 dd 16.29 –2.12 .01 12.65 8.89 ErmenegildoZegna ZGN .9 ... 10.54 +0.01.0947 47.82 30.49 GSK GSK 6.5 10 30.83 –1.06.3421 16.35 1.75 Heliogen HLGN ... dd 2.22 –0.23 ...
221.64 38.96 Cloudflare NET ... dd 58.92 –6.91 ... 133.40 30.05 DigitalOcean DOCN ... dd 41.56 –2.52 ... 20.95 8.07 EroCopper ERO ... 6 10.60 –0.48 ... 9.93 9.70 GSquaredIIA GSQB ... 24 9.92 –0.01 ... 114.89 49.44 HeliosTech HLIO .7 15 50.96 –5.52 .09
6.34 2.11 CN Finance CNF ... dd 2.73 –0.01 ... 416.71 167.03 Dillard's DDS .3 6 287.30 –26.76 .20 50.17 35.53 EssentGroup ESNT 2.3 5 38.91 –1.77 .22 10.02 9.62 GSquaredI A GSQD ... 33 9.92 +0.03 ... 5.78 2.47 HelixEnergy HLX ... dd 4.50 +0.10 ...
67.20 52.28 Coca-Cola KO 3.0 27 59.54 –2.78 .44 95.00 61.30 DineBrands DIN 2.8 13 72.25 +0.28 .51 31.23 19.73 EssentialProp EPRT 4.8 24 22.37 –0.12 .27 105.92 38.08 GXO Logistics GXO ... 21 40.09 –6.34 ... 54.59 20.93 Helm&Payne HP 2.3 dd 42.72 –2.23 .25
65.18 46.91 Coca-Cola Femsa KOF 4.1 16 61.99 –0.931.3528 37.37 2.51 Dingdong DDL ... dd 4.12 –0.24 ... 53.93 40.97 EssentialUtil WTRG 2.5 27 45.57 –2.24 .287 192.00 144.78 Gallagher AJG 1.1 36 179.45 –8.97 .51 47.86 19.30 Herbalife HLF ... 7 22.75 –2.23 ...
7.64 2.54 CoeurMining CDE ... dd 2.85 –0.21 ... 10.12 9.78 DirectSellingA DSAQ ... 21 10.06 –0.05 ... 363.36 250.62 EssexProp ESS 3.4 44 261.06 –17.20 2.20 63.92 19.40 GameStop GME ... dd 28.64 –0.28 ... 203.14 83.43 HercHoldings HRI 2.1 12 110.04 –9.33 .575
101.22 62.01 Cohen&Steers CNS 3.0 17 72.61 –2.04 .55 133.40 88.02 DiscoverFinSvcs DFS 2.4 7 100.91 –1.61 .60 374.20 225.39 EsteeLauder EL 1.0 37 239.38 –13.52 .60 7.05 1.98 Gannett GCI ... dd 2.06 –0.21 ... 19.09 12.62 HerculesCapital HTGC10.2 cc 13.67 –0.34 .15
10.05 7.85 CohnRobbinsA CRHC ... 76 8.78 +0.33 ... 185.90 90.23 Disney DIS ... 63 108.25 –6.93 ... 28.04 19.60 EthanAllen ETD 5.6 6 22.90 –1.45 .50 4.58 1.15 GaotuTechedu GOTU ... dd 1.40 –0.23 ... 7.37 2.26 HeritageInsurance HRTG 8.2 dd 2.91 +0.10 .06
85.61 72.20 ColgatePalm CL 2.5 33 75.69 –2.34 .47 10.45 9.69 dMYTechVI A DMYS ... cc 9.88 +0.04 ... 18.52 7.91 Euronav EURN .7 dd 17.83 +0.06 .03 26.12 7.79 Gap GPS 6.6 dd 9.12 –0.81 .15 12.15 7.92 HershaHospitality HT ... dd 9.74 –0.67 ...
9.90 9.59 ColombierAcqnA CLBR ... 23 9.73 ... ... 96.85 69.18 DolbyLab DLB 1.4 38 72.84 –2.17 .25 12.00 5.30 EveHolding EVEX ... 37 11.10 +3.39 ... 173.29 85.59 Garmin GRMN 3.4 16 85.73 –5.11 .73 234.56 167.80 Hershey HSY 1.9 28 219.89 –6.361.036
n-

9.91 9.65 Colonnade II A CLAA ... 77 9.90 +0.02 ... 17.66 8.30 Dole DOLE 3.8 dd 8.50 –0.90 .08 10.25 9.70 EVeMobilityA EVE ... dd 10.06 +0.01 ... 369.00 221.39 Gartner IT ... 34 300.08 –6.06 ... 131.44 66.20 Hess HES 1.2 26 121.64 –0.83 .375
102.09 70.37 Comerica CMA 3.5 11 78.56 –6.01 .68 262.21 183.25 DollarGeneral DG .9 24 243.79 –3.47 .55 22.52 6.72 Eventbrite EB ... dd 7.38 –0.31 ... 18.18 10.33 GatesIndustrial GTES ... 15 10.86 –0.74 ... 35.71 23.35 HessMidstream HESM 8.1 14 27.48 –1.14.5559
109.00 67.91 ComfortSystems FIX .6 17 99.79 –3.14 .14 9.10 0.51 Doma DOMA ... dd .55 –0.02 ... 164.63 84.83 EvercoreA EVR 3.2 5 89.70 –9.03 .72 14.63 2.40 GatosSilver GATO ... dd 2.59 –0.18 ... 17.76 12.40 HewlettPackard HPE 3.7 5 13.06 –0.37 .12
46.68 28.77 CommercialMetals CMC 1.5 4 37.59 –4.12 .14 88.78 70.37 DominionEner D 3.3 30 80.82 –2.34.6675 10.07 9.80 EverestConsolA MNTN ... dd 10.03 +0.02 ... 12.23 1.01 Gelesis GLS ... dd 1.13 –0.08 ... 65.82 46.77 Hexcel HXL .7 53 56.86 –3.96 .10
78.00 60.94 CommBkSys CBU 2.8 20 63.85 –1.14 .44 567.57 321.15 Domino's DPZ 1.3 27 342.97 –24.15 1.10 308.20 248.63 EverestRe RE 2.3 14 283.07 +0.38 1.65 27.15 12.97 GencoShipping GNK 15.1 2 13.28 –0.72 .50 10.51 9.31 HighlandTransI HTPA ... 38 9.94 –0.01 ...
15.29 2.56 CommunityHlthSys CYH ... dd 2.91 –0.32 ... 63.15 46.00 Donaldson DCI 1.8 19 51.67 –1.12 .23 73.13 59.34 Evergy EVRG 3.4 19 67.07 –3.08.5725 524.31 197.94 Generac GNRC ... 26 200.17 –37.83 ... 47.66 29.24 HighwoodsProp HIW 6.6 11 30.34 –0.99 .50
49.20 32.57 CommunityHlthcr CHCT 5.0 41 34.92 –2.33.4425 52.33 24.60 DonnelleyFin DFIN ... 9 39.22 –1.60 ... 26.61 15.05 Everi EVRI ... 11 17.45 –1.11 ... 254.99 188.64 GeneralDynamics GD 2.2 19 227.45 –4.16 1.26 3.39 1.18 HillIntl HIL ... ... 3.37 ... ...
no

11.22 5.88 SABESP SBS 1.6 13 8.88 –1.40.2004 257.25 56.60 DoorDash DASH ... dd 59.13 –5.18 ... 94.63 77.07 EversourceEner ES 2.9 23 88.80 –2.83.6375 116.17 59.93 GeneralElec GE .5 dd 66.39 –7.65 .08 54.15 36.21 Hillenbrand HI 2.2 14 40.08 –0.77.2175
4.00 2.22 EngGr-Cmg C CIG.C ... 14 3.56 –0.17 ... 18.50 10.77 DorianLPG LPG .0 6 13.96 –0.56 1.00 51.06 32.57 Evertec EVTC .6 16 33.03 –1.59 .05 78.54 57.47 GeneralMills GIS 2.9 17 75.25 –0.66 .54 38.47 25.01 Hilltop HTH 2.3 10 26.61 –0.16 .15
2.62 1.65 EngGr-Cmg CIG ... 9 2.20 –0.20 ... 40.79 17.22 DoubleVerify DV ... 88 27.34 –1.92 ... 39.78 21.36 EvolentHealth EVH ... dd 37.98 –1.58 ... 67.21 30.33 GeneralMotors GM .9 8 39.97 –1.32 .09 56.33 34.31 HiltonGrandVac HGV ... 15 38.67 –2.99 ...
8.15 5.01 COPEL ELP 16.4 27 6.18 –0.37.5373 45.66 27.80 DouglasDynamics PLOW 3.9 23 29.40 –2.06 .29 49.38 30.44 EvoquaWater AQUA ... 77 36.15 –0.66 ... 10.44 9.66 GenAsia I A GAQ ... 69 9.92 +0.01 ... 167.99 108.41 Hilton HLT .5 38 130.80 –5.11 .15
5.97 2.42 CiaSiderurgica SID 15.1 5 2.49 –0.31.2433 12.66 4.36 DouglasElliman DOUG 4.3 6 4.62 –0.24 .05 30.82 18.31 ExcelerateEner EE .4 ... 24.49 –2.25 .025 73.72 42.71 Genesco GCO ... 6 44.87 –4.50 ... 9.19 2.72 Hims&HersHealth HIMS ... dd 5.88 –0.80 ...
19.49 10.23 CerveceriasUnid CCU 13.8 9 10.34 –0.76.3084 36.97 18.99 DouglasEmmett DEI 5.3 43 21.28 +0.02 .28 10.24 9.75 ExecutiveNtwkA ENPC ... dd 9.96 –0.01 ... 13.48 7.61 GenesisEnergy GEL 5.3 dd 11.33 –0.70 .15 5.27 0.73 Hippo HIPO ... dd .88 –0.16 ...
33.31 19.00 CompassDiversif CODI 5.2 cc 19.05 –1.71 .25 184.05 116.66 Dover DOV 1.7 15 120.91 –8.56 .505 5.82 1.20 Express EXPR ... 6 1.25 –0.10 ... 11.38 4.74 GenieEnergy GNE 3.1 3 9.57 +0.07 .075 19.46 10.66 HireRight HRT ... 43 16.23 –0.05 ...
15.15 2.61 Compass COMP ... dd 2.89 –0.31 ... 71.86 45.41 Dow DOW 6.0 5 46.42 –4.09 .70 21.36 8.82 Expro XPRO ... dd 13.68 –0.48 ... 20.45 2.20 GeniusSports GENI ... dd 4.60 +0.24 ... 14.68 5.24 Holley HLLY ... cc 5.33 –0.65 ...
75.44 30.67 CompassMnlInt CMP 1.6 dd 38.44 –1.60 .15 101.49 27.06 Doximity DOCS ... 40 31.45 –2.45 ... 7.70 2.67 Exterran EXTN ... dd 4.70 –0.31 ... 54.03 37.68 Genpact G 1.1 25 44.97 –1.69 .125 20.49 15.12 HollyEnergy HEP 7.7 10 18.08 –0.17 .35
9.88 9.67 ComputeHlthA CPUH ... 24 9.84 ... ... 67.40 47.88 DrReddy'sLab RDY .6 21 50.59 –2.88.3171 228.84 156.70 ExtraSpaceSt EXR 3.3 28 184.19 –17.66 1.50 164.99 115.63 GenuineParts GPC 2.3 20 154.68 –8.12 .895 26.64 19.83 HomeBancShares HOMB 2.8 17 23.65 +0.09 .165
22.11 6.88 ComstockRscs CRK ... 22 18.95 +0.17 ... 41.23 18.17 Dril-Quip DRQ ... dd 21.89 –1.54 ... 105.57 52.96 ExxonMobil XOM 3.8 10 93.21 –3.29 .88 4.61 3.32 GenworthFin GNW ... 2 3.89 –0.20 ... 420.61 264.51 HomeDepot HD 2.8 17 275.97 –23.80 1.90
36.97 30.06 ConagraBrands CAG 3.9 18 33.83 –0.54 .33 3.04 0.97 DriveShack DS ... dd 1.01 –0.08 ... 18.52 10.13 GeoPark GPRK 4.1 4 12.50 –0.15 .127 32.15 23.21 HondaMotor HMC 3.4 8 24.57 –1.38.4961
13.48 9.83 ConcordAcqnA CND ... dd 10.06 ... ... 25.25 14.24 DuckhornPtf NAPA ... 26 14.31 –3.99 ... F 6.62 3.94 Gerdau GGB .6 2 4.39 –0.40 .116 42.95 32.60 HoraceMannEdu HMN 3.5 26 36.14 –0.58 .32
10.70 9.60 ConcordAcqnIIA CNDA ... 24 9.70 –0.02 ... 58.18 40.00 Ducommun DCO ... 4 41.96 –2.64 ... 37.88 7.86 GettyImages GETY ... 35 8.49 –4.03 ... 10.15 9.76 HorizonII A HZON ... 28 9.97 ... ...
10.40 9.72 ConcordAcqnIII A CNDB ... 17 9.98 +0.01 ... 116.33 95.48 DukeEnergy DUK 3.8 21 106.11 –3.771.005 9.94 9.63 FastAcqnII A FZT ... 31 9.82 +0.03 ... 33.35 24.66 GettyRealty GTY 5.5 17 30.02 –0.21 .41 8.75 1.30 HorizonGlobal HZN ... dd 1.52 ... ...
3.40 1.15 ConcordMed CCM ... dd 1.62 –0.36 ... 66.22 47.12 DukeRealty DRE 2.1 22 53.89 –7.34 .28 48.04 37.00 FB Financial FBK 1.3 13 39.75 +0.12 .13 10.14 9.80 GigCapital5 GIA ... dd 10.10 +0.01 ... 55.11 40.48 HormelFoods HRL 2.3 25 45.79 –1.07 .26
159.11 85.69 Conmed CNMD .9 dd 91.49 –6.52 .20 21.15 13.67 Dun&Bradstreet DNB 1.4 dd 14.31 –0.67 .05 16.44 0.79 F45Training FXLV ... dd 2.33 –0.25 ... 43.63 25.67 Gildan GIL 2.2 9 31.19 –0.68 .169 110.45 59.25 DR Horton DHI 1.3 5 71.12 –2.21 .225
124.08 56.30 ConocoPhillips COP 1.6 9 113.13 +1.16 1.40 85.16 52.57 DuPont DD 2.4 15 53.98 –4.41 .33 43.48 6.93 Figs FIGS ... 51 9.80 –2.22 ... 15.86 2.09 GinkgoBioworks DNA ... dd 2.99 +0.05 ... 122.62 74.23 HoulihanLokey HLI 2.6 13 80.16 –1.00 .53
102.21 71.52 ConEd ED 3.2 21 97.41 –3.44 .79 81.40 20.05 DutchBros BROS ... dd 34.16 –2.86 ... 140.99 87.42 FMC FMC 2.0 20 105.88 –6.82 .53 60.69 44.43 GlacierBancorp GBCI 2.6 20 51.04 –0.45 .33 133.99 38.23 Hovnanian HOV ... 1 41.79 –1.34 ...
9.99 9.70 ConstellationI A CSTA ... 36 9.90 ... ... 120.45 64.77 DycomInds DY ... 35 106.67 –6.83 ... 14.11 10.48 FNB FNB 4.0 11 12.07 –0.01 .12 18.74 3.81 Glatfelter GLT 13.3 dd 4.20 –0.13 .14 105.51 60.04 HowardHughes HHC ... 25 65.74 –2.57 ...
261.52 207.59 ConstBrands A STZ 1.3 39 239.90 –6.80 .80 4.49 2.55 DynagasLNG DLNG ... 2 3.37 –0.15 ... 14.92 6.42 FreyrBattery FREY ... dd 13.66 +0.72 ... 64.49 33.33 Glaukos GKOS ... dd 57.67 +1.37 ... 38.99 27.41 HowmetAerospace HWM .2 47 33.61 –2.80 .02
314.00 209.90 ConstBrands B STZ.B .9 55 304.00 –10.00 .72 80.13 29.41 Dynatrace DT ... cc 37.33 –3.40 ... 23.44 18.09 FS KKR Cap FSK 13.4 9 20.03 –1.36 .06 9.99 3.96 GlobalBlue GB ... dd 4.68 –0.43 ... 227.58 170.21 Hubbell HUBB 1.9 22 219.11 –4.95 1.05
20.85 11.33 Constellium CSTM ... 6 11.45 –1.81 ... 18.15 13.96 DynexCapital DX 10.5 3 14.86 –0.69 .13 190.43 131.50 FTI Consulting FCN ... 25 154.97 –3.99 ... 10.02 5.16 GlblBusTravel GBTG ... dd 6.58 –0.95 ... 866.00 257.21 HubSpot HUBS ... dd 291.57 –40.93 ...
 44 BARRON’S September 19, 2022

D ATA NEW YORK STOCK EXCHANGE COMPOSITE LIST B A R R O N S .C O M / D ATA

–52-Week– Tick Div –52-Week– Tick Div –52-Week– Tick Div
High Low Name Sym Yld P/E Last Chg. Amt. High Low Name Sym Yld P/E Last Chg. Amt. High Low Name Sym Yld P/E Last Chg. Amt.

NYSE Cumulative Daily Breadth vs DJIA

8.75 3.08 HudbayMinerals HBM .4 dd 4.27 –0.28.0076 1714.75 1082.78 MettlerToledo MTD ... 34 1198.50 –102.45 ... 75.07 52.11 ONEOK OKE 6.2 17 60.22 –2.27 .935
28.66 12.54 HudsonPacProp HPP 7.7 dd 12.98 –1.17 .25 6.58 3.03 MicroFocus MFGP 4.2 dd 5.82 –0.14 .08 20.91 8.49 ON24 ONTF ... dd 8.84 –0.96 ...
504.99 351.20 Humana HUM .6 20 499.79 +21.29.7875 231.63 158.85 MidAmApt MAA 3.0 33 165.95 –6.75 1.25 54.14 13.29 OakStreetHealth OSH ... dd 28.46 +0.13 ...
10.43 9.80 HuntCosI A HTAQ ... 16 10.14 +0.01 ... 37.99 21.85 MillerIndustries MLR 3.2 21 22.54 –1.35 .18 77.13 24.96 OccidentalPetrol OXY .8 6 64.41 –1.20 .13
243.46 175.50 HuntingIngalls HII 2.0 16 232.11 –3.19 1.18 79.03 54.61 MineralsTechs MTX .4 11 55.17 –7.39 .05 55.04 9.06 OccidentalPetrolWt OXY.WT ... ... 42.73 –0.94 ...
41.65 24.87 Huntsman HUN 3.3 4 25.68 –1.60.2125 All Pain, No Gain: NYSE Composite breadth fell for the fourth time in 11.95 5.40 MirionTech MIR ... dd 7.45 –0.29 ... 18.20 8.56 OceaneeringIntl OII ... dd 9.34 –0.52 ...
108.10 70.12 HyattHotels H ... 43 89.05 –3.90 ... 9.88 9.63 MissionAdvA MACC ... 37 9.81 –0.02 ... 41.92 17.76 OcwenFinancial OCN ... 3 27.74 +1.24 ...
9.61 2.69 Hyliion HYLN ... dd 3.07 –0.13 ... five weeks, as the S&P 500 suffered its worst week since June. Los- 19.82 9.08 MisterCarWash MCW ... 22 9.33 –1.26 ... 17.94 1.29 Offerpad OPAD ... 11 1.30 –0.26 ...
55.78 27.39 HysterYaleMatls HY 4.4 dd 29.22 –0.38.3225 11.29 4.64 MistrasGroup MG ... 58 4.77 –0.30 ... 37.20 22.80 OilDriAmerica ODC 4.3 cc 26.11 –0.47 .28
I
ing stocks on the NYSE outpaced winners by nearly 5 to 1. 6.78 4.89 MitsubishiUFJ MUFG 3.7 9 5.05 –0.04.1064 9.02 4.21 OilStatesIntl OIS ... dd 4.50 –0.42 ...
13.26 6.75 MiXTelematics MIXT 2.4 20 7.87 +0.02.0629 27.19 20.93 OldRepublic ORI 4.2 7 21.83 –0.61 1.00
Breadth DJIA 3.04 2.15 MizuhoFin MFG 4.3 8 2.35 +0.04.0611 67.25 43.02 Olin OLN 1.7 5 45.87 –9.54 .20
61.17 31.32 IAA IAA ... 15 33.72 –2.28 ... 37.25 20.95 ModelN MODN ... dd 31.24 –0.56 ... 35.68 7.16 Olo OLO ... dd 7.87 –0.47 ...
23.49 16.36 ICICI Bank IBN .5 22 22.73 –0.27.1124
12.96 6.91 ICL Group ICL 1.8 6 8.41 –1.05.2918
609,000 36,500 17.52 7.67 ModineMfg MOD ... 8 14.80 –0.51 ... 33.71 24.81 OmegaHealthcare OHI 8.6 17 31.07 –1.61 .67
89.99 14.31 Modiv MDV 6.7 dd 17.04 +1.88.0958 91.61 61.31 Omnicom OMC 4.2 11 66.99 –3.42 .70
118.92 95.26 IDACORP IDA 2.8 23 108.76 –2.30 .75 77.49 37.16 Moelis MC 6.1 8 39.14 –4.29 .60 55.87 16.16 OnHolding ONON ... dd 18.10 –2.18 ...
67.30 21.68 IDT IDT ... 14 25.11 –0.30 ... 602,200 35,100 199.37 99.20 MohawkInds MHK ... 7 99.85 –13.82 ... 36.60 23.26 OneLiberty OLP 7.2 14 24.98 +0.87 .45

.
18.48 6.09 IHS Holding IHS ... dd 6.52 +0.25 ... 361.25 249.78 MolinaHealthcare MOH ... 26 339.37 –8.86 ... 4.67 0.90 OneConnectFinTech OCFT ... dd 1.00 –0.12 ...
15.97 8.42 ING Groep ING 10.0 ... 9.80 +0.63.1737 70.00 51.21 MolsonCoorsA TAP.A 2.4 18 62.05 –3.17 .38 60.38 33.71 OneMain OMF 10.8 4 35.04 –2.51 .95

ly
4.83 1.39 INNOVATE VATE ... dd 1.40 –0.05 ... 595,400 33,700 60.12 42.46 MolsonCoorsB TAP 3.0 15 50.44 –1.73 .38 10.89 0.32 OnionGlobal OG ... dd .44 –0.13 ...
27.03 15.20 Invesco IVZ 4.7 7 16.09 –1.49.1875 11.34 1.17 MoneyLion ML ... dd 1.31 –0.13 ... 106.09 59.95 OntoInnovation ONTO ... 18 68.30 –3.19 ...
9.88 9.65 IonAcqn3 IACC ... dd 9.85 +0.02 ... Breadth 581,367 80.42 28.36 MontroseEnvl MEG ... dd 43.09 +0.03 ... 24.28 10.82 Ooma OOMA ... dd 12.75 +0.38 ...
285.61 194.67 IQVIA IQV ... 34 205.04 –18.13 ... 588,600 32,300 407.94 251.01 Moody's MCO 1.0 30 280.29 –19.25 .70 54.98 28.88 Oppenheimer A OPY 1.8 5 32.56 –0.07 .15
5.77 3.16 IRSA IRS ... dd 4.02 –0.43 ... 90.01 67.77 Moog A MOG.A 1.4 15 74.45 –3.55 .26 8.80 2.33 OppFi OPFI ... 1 2.60 –0.04 ...
105.54 63.77 ITT ITT 1.5 18 70.51 –5.19 .264 90.13 68.48 Moog B MOG.B 1.4 15 76.95 –2.21 .26 106.34 63.76 Oracle ORCL 1.9 33 68.83 –7.08 .32
3.77 1.12 IamGold IAG ... dd 1.19 –0.14 ... 581,800 30,900 109.73 72.05 MorganStanley MS 3.5 12 87.43 –2.03 .775 12.71 9.85 Orange ORAN ... 6 10.07 –0.06 ...

on
9.91 9.66 IberePharmA IBER ... 24 9.91 +0.02 ... 79.28 31.47 Mosaic MOS 1.1 6 52.20 –4.04 .15 25.30 11.86 OrchidIsland ORC 15.9 dd 12.07 –0.64 .16
10.14 9.83 IconicSportsA ICNC ... 16 10.11 +0.02 ... 10.40 9.75 MotiveCapII A MTVC ... dd 10.00 –0.02 ... 39.48 28.18 Organon OGN 3.9 7 28.61 –1.22 .28
240.33 172.19 IDEX IEX 1.2 31 204.93 –5.11 .60 575,000 29,500 273.65 195.18 MotorolaSol MSI 1.3 34 239.20 –11.02 .79 20.99 13.84 OrionEngCarbons OEC .5 11 15.70 –1.66.0207
5.79 1.10 iHuman IH ... dd 1.99 +0.02 ... 48.66 28.93 Movado MOV 4.7 7 29.93 –1.81 .35 5.80 2.10 OrionGroup ORN ... dd 2.54 –0.18 ...
249.81 173.52 IllinoisToolWks ITW 2.7 23 194.06 –12.45 1.31 O N D J F M A M J J A S 70.38 40.15 MuellerIndustries MLI 1.7 5 59.67 –3.06 .25 32.25 9.67 OrionOffice ONL 4.0 dd 10.03 –0.52 .10
22.10 14.00 Imax IMAX ... dd 15.64 –0.42 ... In generating this chart, we subtract each day's NYSE composite declines from that day's advances. The resultant total is 17.37 10.38 MuellerWater MWA 2.2 19 10.53 –0.92 .058 112.91 77.42 Orix IX 3.8 7 78.52 –2.571.7813
7.40 2.42 IndependenceContr ICD ... dd 3.02 –0.13 ... added to the next day's total, and so on. When all five days' numbers are added together, this produces the weekly figure we 6.44 2.88 MultiPlan MPLN ... 12 3.00 –0.25 ... 98.11 60.32 OrmatTech ORA .5 85 95.44 –1.07 .12
28.42 18.39 IndepRealty IRT 3.0 30 18.84 –1.35 .14 45.79 19.48 MurphyOil MUR 2.5 12 39.35 –0.48 .25 18.89 3.89 OscarHealth OSCR ... dd 5.74 –0.50 ...

us ,
plot. Dec. 31, 1985 =1000.
10.13 9.80 IndlHumanCap AXH ... dd 10.13 ... ... 303.09 158.03 MurphyUSA MUSA .5 13 276.88 –12.49 .32 125.16 76.88 Oshkosh OSK 1.9 16 77.59 –4.76 .37
48.44 36.98 IndustrsBachoco IBA 2.0 7 47.00 –1.13.4887 9.90 9.65 MusicAcqnA TMAC ... 22 9.86 +0.01 ... 10.00 9.62 OsirisAcqn OSI ... 28 9.76 +0.02 ...

l
10.11 9.72 InfiniteAcqnA NFNT ... dd 9.94 –0.01 ... 25.55 15.82 MyersIndustries MYE 3.1 13 17.61 –1.13 .135 13.83 3.84 OsiskoDevelopment ODV ... dd 5.15 –0.61 ...
10.14 9.83 InFinTAcqnA IFIN ... dd 10.14 +0.02 ...

e
–52-Week– Tick Div –52-Week– Tick Div 24.96 7.67 MyovantSciences MYOV ... dd 18.71 –1.11 ... 14.57 9.20 OsiskoGoldRoyal OR 1.7 dd 9.88 –0.36.0427

al a
40.13 16.20 Informatica INFA ... dd 20.64 –1.31 ... High Low Name Sym Yld P/E Last Chg. Amt. High Low Name Sym Yld P/E Last Chg. Amt. 88.22 66.97 OtisWorldwide OTIS 1.7 23 67.80 –5.60 .29
26.39 17.09 Infosys INFY 1.4 25 17.38 –1.68.2104 209.08 127.93 KeysightTechs KEYS ... 27 165.43 –6.93 ... 14.50 8.75 LumenTech LUMN11.4 5 8.80 –1.17 .25 NO 8.02 1.16 Ouster OUST ... dd 1.18 –0.30 ...
62.64 39.28 IngersollRand IR .2 32 47.19 –3.04 .02 79.06 47.17 KilroyRealty KRC 4.3 30 49.69 –0.84 .54 4.18 2.25 LumentFinance LFT 9.9 10 2.43 –0.05 .06 29.36 16.07 OutfrontMedia OUT 6.6 23 18.11 –1.58 .30
83.65 56.31 Ingevity NGVT ... 17 64.04 –6.27 ... 10.76 9.94 KimbellTigerA TGR ... dd 10.09 +0.01 ... 23.71 14.26 Luxfer LXFR 3.3 20 15.63 –0.48 .13 63.19 25.52 NACCO Inds NC 1.6 5 53.00 +5.68.2075 3.39 1.64 OverseasShip OSG ... dd 3.30 ... ...
101.89 81.25 Ingredion INGR 3.1 12 83.11 –2.63 .65

ci on
145.79 117.32 KimberlyClark KMB 3.8 23 122.02 –4.82 1.16 117.22 75.90 LyondellBasell LYB 6.2 5 77.15 –6.98 1.19 15.77 8.12 N-able NABL ... cc 10.17 +0.07 ... 63.30 27.52 Ovintiv OVV 2.0 5 49.55 –2.75 .25
288.02 87.47 InnovativeIndProp IIPR 7.9 18 91.46 –3.34 1.80 26.57 18.52 KimcoRealty KIM 4.2 17 20.74 –1.27 .22 45.92 21.64 NCR NCR ... 50 23.20 –8.94 ... 49.11 24.29 Owens&Minor OMI .0 12 25.17 –3.04.0025
10.00 1.62 Innovid CTV ... dd 2.65 –0.80 ... 20.20 15.01 KinderMorgan KMI 6.2 17 17.85 –0.46.2775 M 2.91 1.33 NGL Energy NGL ... dd 1.47 –0.06 ... 101.12 72.97 OwensCorning OC 1.7 7 81.65 –5.88 .35
129.32 83.94 Insperity NSP 2.0 29 106.22 –6.45 .52 8.18 4.85 KingswayFin KFS ... dd 7.61 +1.01 ... 44.27 11.67 NIO NIO ... dd 20.15 +0.99 ... 15.33 12.09 OwlRock ORCC10.0 15 12.41 –0.54 .31
286.29 142.74 InspireMedical INSP ... dd 191.60 –16.59 ... 7.13 3.00 KinrossGold KGC 3.6 dd 3.29 –0.26 .03 193.42 131.42 M&T Bank MTB 2.6 17 182.85 –4.76 1.20 10.71 5.51 NL Industries NL 3.4 5 8.20 –0.43 .07 6.26 1.16 Owlet OWLT ... dd 1.29 –0.45 ...
141.43 69.44 InstalledBldg IBP 1.5 16 85.40 –5.71 .315 285.26 157.81 KinsaleCapital KNSL .2 40 246.37 +0.49 .13 17.90 10.25 MBIA MBI ... dd 11.40 –1.11 ... 24.06 11.46 NOV NOV 1.2 dd 17.12 –0.40 .05 119.50 76.21 OxfordIndustries OXM 2.5 9 86.70 –5.41 .55
47.70 26.94 InsteelInds IIIN .4 4 27.73 –1.48 .03 75.08 47.58 Kirby KEX ... dd 66.13 –2.87 ... 56.53 27.83 MDC Holdings MDC 6.8 3 29.38 –2.27 .50 13.40 6.83 NOW DNOW ... 17 11.14 –0.46 ...
29.59 15.68 Instructure INST ... dd 21.76 –1.32 ... 23.35 16.68 KiteRealty KRG 4.3 dd 18.99 –0.86 .22 9.90 9.68 MDH Acqn A MDH ... 26 9.85 +0.02 ... 47.82 34.70 NRG Energy NRG 3.2 3 43.87 +0.58 .35 PQ
95.73 59.18 IntegerHoldings ITGR ... 28 62.83 –2.23 ... 62.29 42.50 Knight-Swift KNX 1.0 9 48.02 –2.88 .12 32.19 24.92 MDU Rscs MDU 3.0 18 29.49 –1.10.2175 5982.45 3576.01 NVR NVR ... 10 4085.72 –178.10 ...
10.07 9.80 IntegratedRailA IRRX ... 76 10.05 +0.04 ... 10.88 9.84 KnightSwanA KNSW ... dd 9.98 –0.02 ... 19.20 9.72 MFA Financial MFA 16.0 dd 11.00 +0.13 .44 10.08 9.86 NaborsEnerA NETC ... dd 10.08 +0.02 ... 44.12 9.61 PBF Energy PBF ... 3 28.33 –5.13 ...

er s
10.10 9.80 IntegratedWellA WEL ... dd 10.08 ... ... 20.30 12.34 KnotOffshore KNOP13.3 ... 15.65 –0.60 .52 16.85 11.38 MGIC Investment MTG 2.8 6 14.27 –0.19 .10 207.67 72.46 NaborsIndustries NBR ... dd 124.59 –4.76 ... 19.65 10.65 PBF Logistics PBFX 7.1 7 16.96 –1.40 .30
139.79 90.05 ICE ICE 1.6 16 97.27 –6.13 .38 51.17 26.41 MGM Resorts MGM .0 5 33.36 –1.70.0025 48.24 34.88 NatlBankHoldings NBHC 2.4 15 38.89 –0.51 .23 13.38 9.45 PG&E PCG ... cc 13.08 +0.19 ...
23.81 12.98 Knowles KN ... dd 13.30 –0.83 ...
73.40 51.28 InterContinentl IHG 2.4 23 54.03 –2.69 .439 64.92 34.33 MI Homes MHO ... 3 39.31 –3.56 ... 75.97 50.26 NationalFuelGas NFG 2.8 13 68.88 –2.33 .475 23.36 15.42 PGT Innovations PGTI ... 18 20.18 –1.03 ...
To reprint or license content, please contact Barron's reprints department at 800-843-0008 or www.djreprints.com

64.38 26.07 Kohl's KSS 7.0 6 28.74 –1.97 .50

37.64 20.95 IntercorpFinSvcs IFS 8.1 7 21.58 –0.13 .65 17.39 5.07 MinisoGroup MNSO .0 17 5.30 –0.50 .152 80.20 59.53 NationalGrid NGG 5.4 14 59.97 –2.882.0929 4.98 2.07 PHX Minerals PHX 2.4 16 3.30 –0.01 .02
48.31 16.13 KoninklijkePhil PHG 4.3 5 17.97 +0.01.9641
144.73 114.56 IBM IBM 5.2 21 127.27 –1.92 1.65
155.00
32.95
101.34
16.46
IntlFlavors
IntlGameTech
IFF 3.2
IGT 4.6
41
23
102.40
17.54
–12.09 .81
–1.15 .20
61.25
37.44
30.98
20.65 Koppers
m er
KontoorBrands KTB 5.1
KOP .9
8
7
36.23
21.73
–0.45 .46
–1.38 .05
13.92
35.49
1.41
27.43
MOGU
MPLX
MOGU ...
MPLX 8.7
...
10
2.11
32.49
–0.49 ...
–0.71 .705
67.16
89.50
50.22
59.99
NatlHealthInv
NatlPrestoInds
NHI 5.8
NPK 1.5
42
28
62.46
66.25
–3.68 .90
–0.23 3.50
89.50
39.00
54.48
27.59
PJT Partners
PLDT
PJT 1.4
PHI 4.1
18
11
69.14
28.98
–2.62 .25
+0.14.8451
10.38 6.65 KoreaElcPwr KEP .0 dd 6.72 –0.41.4875 60.19 27.48 MP Materials MP ... 24 31.38 –2.51 ... 48.90 39.12 NatlRetailProp NNN 5.0 26 44.05 –1.17 .55 10.02 9.76 PMV Consumer PMVC ... 19 10.00 ... ...
56.57 34.75 IntlPaper IP ... 7 35.23 –6.49 ... 13.45 6.38 MRC Global MRC ... dd 9.47 –0.34 ... 70.04 45.13 NatlStorage NSA 4.7 47 46.72 –4.74 .55 228.14 146.39 PNC Fin PNC 3.7 13 163.83 –0.51 1.50
34.25 13.05 IntlSeaways INSW 1.4 dd 33.59 +1.06 .12 84.68 49.01 KornFerry KFY 1.2 8 49.28 –2.76 .15
8.49 2.21 KosmosEnergy KOS ... 16 6.52 +0.17 ... 157.29 112.89 MSA Safety MSA 1.6 cc 117.58 –5.05 .46 18.43 4.67 Natura&Co NTCO .9 dd 5.68 –0.55.0492 50.11 43.43 PNM Resources PNM 2.9 26 47.51 +0.16.3475
9.86 9.52 InterPrivateII A IPVA ... ... 9.85 +0.01 ... 679.85 376.41 MSCI MSCI 1.1 47 456.68 –34.58 1.25 15.00 9.11 NaturalGasSvcs NGS ... dd 10.28 +0.08 ... 76.14 40.95 POSCO PKX 7.2 2 41.68 –2.91.7382
9.97 9.75 InterPrivateII A IPVF ... dd 9.88 +0.04 ... 62.78 38.22 Kroger KR 2.2 14 47.28 –4.66 .26
19.78 11.48 KronosWorldwide KRO 6.4 8 11.81 –0.95 .19 87.99 71.69 MSC Industrial MSM 4.0 14 75.75 –4.43 .75 24.25 9.95 NaturalGrocers NGVC 3.2 11 12.61 –1.24 .10 177.32 107.06 PPG Ind PPG 2.1 26 117.48 –10.63 .62
39.98 26.36 Interpublic IPG 4.2 11 27.30 –1.25 .29 10.05 9.27 M3-Brigade II A MBAC ... 22 9.82 ... ... 50.82 20.14 NaturalResPtrs NRP 6.7 4 45.11 –1.03 .75 30.99 24.98 PPL PPL 3.1 29 28.92 –0.93 .225
m rp
121.72 27.96 IntrepidPotash IPI ... 2 41.31 –5.61 ... 6.27 0.62 KukeMusic KUKE ... dd .71 –0.03 ...
40.00 9.10 Kyndryl KD ... dd 10.34 –0.65 ... 10.17 9.65 M3-BrigadeIII A MBSC ... dd 10.05 –0.01 ... 21.00 6.03 Natuzzi NTZ ... dd 7.22 –1.02 ... 50.79 15.62 ProgHoldings PRG ... 8 19.28 –1.16 ...
6.29 0.80 Invacare IVC ... dd 1.01 ... ... 15.14 7.04 MV Oil MVO 14.8 9 12.87 +0.54 .70 7.53 5.37 NatWest NWG 4.6 8 6.35 +0.15.3958 10.05 9.79 ProofAcqnIA PACI ... dd 9.95 –0.05 ...
32.93 1.10 InvenTrust IVT 3.3 38 25.24 –1.74.2052 L 31.20 9.06 Mytheresa MYTE ... dd 12.13 –0.67 ... 11.40 1.64 Nautilus NLS ... dd 2.10 –0.02 ... 40.00 18.09 PROS PRO ... dd 22.56 –0.40 ...
34.00 9.63 InvescoMtg IVR 23.9 dd 15.06 –0.80 .90 22.88 8.42 Macerich MAC 6.6 dd 9.08 –0.78 .15 15.21 7.84 NavigatorHldgs NVGS ... cc 11.40 –0.45 ... 17.14 10.09 P10 PX 1.0 55 11.43 –0.46 .03
32.93 1.83 Invitae NVTA ... dd 3.18 –0.82 ... 163.33 96.32 LCI Inds LCII 3.8 6 111.75 –7.07 1.05 37.95 15.85 Macy's M 3.8 3 16.71 –1.50.1575 6.69 1.94 NaviosMaritime NM ... 0 2.22 –0.23 ... 125.42 53.03 PVH PVH .3 4 54.41 –6.18.0375
45.80 33.15 InvitatHomes INVH 2.4 81 36.86 –2.69 .22 10.78 5.12 LG Display LPL 3.8 30 5.24 –0.33.2739 85.60 48.07 MSG Entertainment MSGE ... dd 54.98 –2.32 ... 99.79 72.94 Nelnet NNI 1.2 7 80.96 –0.94 .24 168.50 116.60 PackagingCpAm PKG 4.2 11 118.07 –21.51 1.25
35.90 4.16 IonQ IONQ ... dd 5.49 +0.10 ... 20.35 7.00 LL Flooring LL ... 8 7.36 –0.51 ... 203.37 145.41 MSG Sports MSGS ... 72 150.22 –9.95 ... 13.49 1.59 NerdyA NRDY ... 47 2.46 –0.56 ... 47.82 21.72 PagerDuty PD ... dd 23.56 –1.64 ...
For personal non-commercial use only. Do not edit or alter. Reproductions not permitted.

58.61 41.67 IronMountain IRM 4.5 43 55.29 +0.06.6185 27.45 6.59 LSB Inds LXU ... dd 15.44 –0.84 ... 53.75 43.58 MagellanMid MMP 8.2 11 50.73 +0.051.0375 25.60 18.47 Netstreit NTST 4.1 96 19.50 –0.28 .20 57.87 9.45 PagSeguroDig PAGS ... 19 14.94 –1.07 ...
37.64 1.11 IronNet IRNT ... dd 1.20 –1.02 ... 45.49 31.36 LTC Properties LTC 5.4 18 42.16 –2.14 .19 90.15 52.47 MagnaIntl MGA 3.3 24 54.87 –3.12 .45 127.97 39.41 Nevro NVRO ... dd 46.80 –2.71 ... 29.29 6.44 PalantirTech PLTR ... dd 7.78 –0.01 ...
13.14 2.20 ironSource IS ... 59 3.79 –0.32 ... 279.71 200.71 L3HarrisTech LHX 1.9 24 230.01 –6.13 1.12 22.28 11.13 Magnachip MX ... 8 11.42 –0.38 ... 47.50 34.41 NewJerseyRscs NJR 3.5 20 44.74 +0.45.3625 27.95 16.21 PampaEnergia PAM ... 4 25.01 –1.69 ...
co o

27.75 12.25 iStar STAR 4.0 dd 12.65 –1.23 .125 16.11 9.62 LXP Industrial LXP 4.9 9 9.85 –0.59 .12 30.31 15.71 MagnoliaOil MGY 2.6 6 22.70 –0.48 .10 29.80 8.40 NewOrientalEduc EDU ... ... 24.40 –2.35 ... 21.10 11.66 ParPacific PARR ... 10 16.81 –1.73 ...
4.04 2.50 ItauCorpBanca ITCB 3.4 4 3.26 –0.19 .165 39.99 22.21 La-Z-Boy LZB 2.6 7 24.96 –1.40 .165 10.04 9.74 MagnumOpusA OPA ... 62 9.91 +0.03 ... 129.70 41.66 NewRelic NEWR ... dd 58.32 –5.70 ... 73.45 28.87 ParTechnology PAR ... dd 32.08 –3.47 ...
5.89 3.60 ItauUnibanco ITUB 2.6 10 5.05 –0.12.0029 317.17 212.40 LabCorp.ofAmerica LH 1.3 11 223.99 –14.33 .72 47.13 34.35 MainStreetCap MAIN 6.6 11 39.72 –0.98 .22 13.75 2.73 NewYorkCityReit NYC 10.2 dd 3.94 –0.01 .10 10.05 9.73 ParabellumAcqn PRBM ... 22 9.89 +0.01 ...
J 12.70 9.43 LadderCapital LADR 8.3 14 11.09 +0.01 .23 20.86 10.41 ManchesterUnited MANU 1.3 dd 14.15 –0.28 .09 14.33 8.50 NY CmntyBcp NYCB 7.2 8 9.49 –0.44 .17 25.41 12.35 Paragon28 FNA ... dd 17.54 –1.30 ...
F

83.29 49.71 LambWeston LW 1.3 56 76.56 –2.94 .245 23.26 8.68 Manitowoc MTW ... 22 8.93 –0.88 ... 56.19 27.63 NYTimes A NYT 1.2 26 29.92 –1.86 .09 11.54 6.73 ParamountGroup PGRE 4.4 cc 6.98 –0.19.0775
10.05 9.78 JattAcqnA JATT ... 19 10.03 –0.01 ... 3.33 0.43 Lannett LCI ... dd .58 +0.10 ... 12.91 7.25 Manning&Napier MN 1.6 16 12.39 –0.16 .05 378.63 280.28 NewMarket NEU 2.8 16 297.14 –6.52 2.10 14.53 10.61 ParkAerospace PKE 3.6 30 11.06 –0.11 .10
31.09 21.14 JBG SMITH Prop JBGS 4.1 38 21.69 –0.62 .225 120.86 51.23 LaredoPetrol LPI ... 2 68.19 –6.15 ... 115.54 69.31 Manpower MAN 3.9 9 69.99 –4.47 1.36 86.37 40.27 Newmont NEM 5.0 44 43.71 +0.54 .55 21.62 12.90 ParkHotels PK .3 dd 13.89 –0.73 .01
28.30 9.64 JELD-WEN JELD ... 7 10.03 –0.99 ... 48.27 28.88 LasVegasSands LVS ... dd 38.64 +0.47 ... 22.19 16.27 ManulifeFin MFC 5.1 6 17.16 –0.62.2587 4.81 2.46 NewparkResources NR ... dd 2.92 –0.07 ... 340.00 230.44 ParkerHannifin PH 2.0 26 260.10 –18.89 1.33
20.89 12.47 J.Jill JILL ... 5 16.43 –1.61 ... 53.00 30.72 Lazard LAZ 5.5 8 36.05 –2.05 .50 33.24 11.22 MarathonOil MRO 1.1 6 26.22 –0.13 .08 12.86 4.95 NexaResources NEXA 6.7 4 4.98 –0.17.3775 43.84 29.25 Parsons PSN ... 53 40.80 –1.19 ...
172.96 106.06 JPMorganChase JPM 3.4 9 117.08 –2.09 1.00 195.43 118.38 Lear LEA 2.3 73 136.33 –4.36 .77 114.35 56.08 MarathonPetrol MPC 2.4 6 95.65 –4.36 .58 6.56 3.39 NexGenEnergy NXE ... dd 4.20 –0.40 ... 9.21 1.04 PartyCity PRTY ... 2 2.06 –0.50 ...
72.11 48.80 Jabil JBL .5 10 58.40 –2.33 .08 10.18 9.61 LearnCWInvtA LCW ... 17 9.91 –0.01 ... 58.33 34.13 Marcus&Millichap MMI 1.3 9 37.09 –1.14 .25 25.98 17.96 NexPointRealEst NREF10.0 6 20.04 –0.98 .50 558.97 255.82 PaycomSoftware PAYC ... 89 349.60 –20.57 ...
9.99 9.70 JacksonAcqnA RJAC ... 14 9.89 –0.01 ... 48.37 33.19 Leggett&Platt LEG 4.9 13 36.28 –2.46 .44 22.32 13.41 Marcus MCS .0 dd 15.59 –1.01 .05 95.04 50.27 NexPointResidentl NXRT 2.9 85 51.91 –2.20 .38 36.79 10.50 Paymentus PAY ... cc 11.37 –1.09 ...
47.76 23.56 JacksonFinl JXN 6.9 0 32.06 –0.97 .55 111.12 81.07 Leidos LDOS 1.5 18 93.29 –2.40 .36 13.79 8.32 MarineProducts MPX 5.5 9 8.78 –1.66 .12 18.59 2.47 Nextdoor KIND ... dd 3.41 +0.15 ... 8.46 1.52 Paysafe PSFE ... dd 1.66 –0.15 ...
150.32 114.11 JacobsSolns J .8 33 117.27 –7.77 .23 19.00 1.77 LejuHoldings LEJU ... dd 2.02 –0.09 ... 61.06 29.87 MarineMax HZO ... 4 30.44 –4.06 ... 93.73 67.22 NextEraEnergy NEE 2.0 65 84.79 –5.11 .425 33.29 8.58 PeabodyEnergy BTU ... 4 20.60 –2.73 ...
41.85 20.14 JamesHardie JHX 2.3 19 21.60 –1.65 .30 79.54 15.99 Lemonade LMND ... dd 22.95 –2.55 ... 1519.25 1162.00 Markel MKL ... cc 1182.97 –17.19 ... 12.50 3.21 NexTierOilfield NEX ... 54 8.45 –0.92 ... 11.07 7.68 Pearson PSO 2.5 21 10.20 –0.44.8062
48.55 22.22 JanusHenderson JHG 6.7 8 23.33 –1.82 .39 49.21 11.17 LendingClub LC ... 5 12.66 –1.24 ... 7.98 1.72 Markforged MKFG ... 12 2.25 –0.31 ... 98.20 69.34 NicoletBankshares NIC ... 14 74.57 –1.94 ... 26.45 16.04 PebblebrookHotel PEB .2 dd 17.52 –0.75 .01
14.63 7.95 JanusIntl JBI ... 20 9.89 –0.79 ... 117.54 62.54 Lennar A LEN 2.0 5 75.79 –4.03 .375 174.74 110.08 MarriottVacations VAC 1.8 24 141.53 –4.30 .62 27.92 16.02 NielsenHoldings NLSN .9 17 27.83 –0.03 .06 29.62 16.33 PediatrixMedical MD ... 18 17.58 –0.62 ...
9.94 9.66 JawsMustangA JWSM ... 38 9.94 +0.02 ... 96.42 52.67 Lennar B LEN.B 2.5 4 60.07 –3.19 .375 183.14 142.80 Marsh&McLen MMC 1.5 24 156.34 –10.42 .59 179.10 99.53 Nike NKE 1.2 28 104.12 –6.85 .305 10.17 9.70 PegasusDigA PGSS ... 64 10.03 ... ...
44.47 25.88 JefferiesFin JEF 3.7 7 32.84 –1.22 .30 334.78 182.85 LennoxIntl LII 1.7 19 244.43 –13.78 1.06 446.46 284.99 MartinMarietta MLM .8 26 330.18 –26.12 .66 8.10 0.79 NineEnergy NINE ... dd 3.04 –0.21 ... 42.74 28.89 PembinaPipeline PBA 5.5 17 34.87 –1.05.1676
2.22 0.73 JianpuTech JT ... dd 2.00 –0.16 ... 9.96 9.69 LeoHldgsII A LHC ... 35 9.94 +0.01 ... 71.06 46.27 Masco MAS 2.3 14 48.77 –3.51 .28 32.59 23.65 NiSource NI 3.3 19 28.83 –1.63 .235 8.02 5.99 PennantPark PNNT 9.6 12 6.22 –0.21 .15
76.92 35.41 JinkoSolar JKS ... dd 57.05 –3.77 ... 28.62 15.62 LeviStrauss LEVI 2.3 12 17.62 +0.11 .12 9.85 9.65 MasonIndlTechA MIT ... 34 9.80 +0.01 ... 47.92 14.60 NoahHoldings NOAH ... 6 15.34 –0.63 ... 30.75 3.24 PA Reit PEI ... dd 4.35 +0.15 ...
11.11 3.61 JobyAviation JOBY ... dd 5.48 –0.17 ... 14.28 5.87 Li-Cycle LICY ... dd 6.03 –0.95 ... 128.87 69.41 MasoniteIntl DOOR ... 13 75.03 –8.30 ... 38.59 22.01 Noble NE ... 26 32.42 –0.54 ... 71.52 38.53 PennyMacFin PFSI 1.5 5 53.68 –1.19 .20
20.05 8.50 LibertyEnergy LBRT ... ... 13.64 –1.35 ... 104.21 62.64 MasTec MTZ ... 35 80.91 –1.60 ... 6.40 4.37 Nokia NOK .6 14 4.63 –0.44.0205 20.72 11.64 PennyMacMtg PMT 12.7 dd 14.86 ... .47
n-

177.56 90.23 JohnBeanTech JBT .4 24 91.37 –11.26 .10

186.69 155.72 J&J JNJ 2.7 24 167.60 +1.89 1.13 154.45 100.66 LifeStorage LSI 3.7 31 117.64 –10.87 1.08 399.92 303.65 Mastercard MA .6 32 315.13 –20.72 .49 28.92 16.47 NomadFoods NOMD ... 13 16.91 –0.53 ... 126.93 88.58 PenskeAuto PAG 1.9 6 104.64 –6.15 .53
81.77 45.52 JohnsonControls JCI 2.6 36 53.61 –4.54 .35 23.37 10.53 LifeTime LTH ... dd 11.87 –1.43 ... 67.78 28.81 MatadorRscs MTDR .7 7 56.80 –1.52 .10 5.28 3.36 NomuraHoldings NMR 4.6 13 3.45 –0.13.1081 80.10 42.46 Pentair PNR 2.0 13 42.84 –4.28 .21
275.77 154.63 JonesLang JLL ... 8 162.73 –13.06 ... 1.83 0.87 LightInTheBox LITB ... dd 1.00 –0.13 ... 97.89 68.01 Materion MTRN .6 22 78.54 –5.95 .125 3.45 1.40 NordicAmTankers NAT 2.3 dd 3.11 –0.04 .03 292.84 114.87 Penumbra PEN ... dd 195.55 –10.33 ...
21.25 4.47 JumiaTech JMIA ... dd 7.15 –0.67 ... 9.71 1.89 Lightng eMotors ZEV ... dd 1.90 –0.32 ... 38.63 19.08 Mativ MATV 6.6 10 24.32 –0.62 .40 36.43 16.83 Nordstrom JWN 4.0 7 18.90 –0.50 .19 58.13 38.23 PerformanceFood PFGC ... 67 48.59 –3.35 ...
10.12 9.72 JuniperII A JUN ... 32 9.95 ... ... 130.02 15.03 Lightspeed LSPD ... dd 18.33 –1.78 ... 125.34 66.75 Matson MATX 1.8 2 69.39 –4.99 .31 299.20 217.00 NorfolkSouthern NSC 2.1 19 233.98 –15.87 1.24 10.16 9.65 PeridotAcqnIIA PDOT ... 31 9.90 –0.01 ...
38.14 26.20 JuniperNetworks JNPR 3.0 23 27.61 –1.43 .21 335.33 220.20 EliLilly LLY 1.3 49 308.89 –8.81 .98 12.36 8.70 MauiLand MLP ... 31 8.70 –0.38 ... 17.79 10.36 NorthAmConstr NOA 2.3 9 10.86 –1.10.0625 15.14 7.92 PerimeterSolns PRM ... dd 9.00 –1.23 ...
77.57 44.89 LincolnNational LNC 3.7 10 48.04 –2.77 .45 40.48 20.26 MaxarTech MAXR .2 31 20.81 –2.73 .01 20.72 7.60 NoEuroOil NRT 8.0 12 15.40 –0.20 .46 24.75 24.19 PeriphasCapA PCPC ... 65 24.71 +0.01 ...
no

K 352.18 265.12 Linde LIN 1.7 41 283.36 –3.67 1.17 88.13 56.50 Maximus MMS 1.9 20 59.79 –1.25 .28 9.95 9.62 NorthernGenIII NGC ... 31 9.80 ... ... 203.16 128.22 PerkinElmer PKI .2 24 130.14 –11.48 .07
171.69 116.77 Lindsay LNN .9 31 151.13 –9.45 .34 20.93 6.58 MayvilleEngg MEC ... dd 6.65 –0.60 ... 39.10 16.42 NorthernOil&Gas NOG 3.2 15 31.49 +0.08 .25 23.08 5.15 PermianBasin PBT 1.6 44 16.53 –0.47.1959
22.10 11.76 KAR Auction KAR ... dd 12.94 –0.72 ... 14.77 3.46 LionElectric LEV ... 4 3.55 –0.37 ... 107.35 77.67 McCormick MKC 1.9 31 79.14 –0.75 .37 10.00 9.67 NorthernStrII A NSTB ... 12 9.85 ... ... 9.70 5.08 PermianRscs PR ... 6 7.79 –0.15 ...
55.31 33.15 KB Financial KB 5.8 4 36.21 +0.45.3829 18.84 7.51 LionsGate A LGF.A ... dd 10.60 +0.58 ... 107.02 77.05 McCormickVtg MKC.V 1.9 31 78.72 –1.78 .37 9.88 9.65 NorthernStrIII A NSTC ... 30 9.82 –0.01 ... 5.79 1.80 PermianvilleRT PVL 10.3 13 3.30 +0.03.0245
50.20 24.78 KB Home KBH 2.1 4 28.37 –1.16 .15 17.29 7.16 LionsGate B LGF.B ... dd 9.99 +0.52 ... 271.15 217.68 McDonald's MCD 2.2 31 254.91 –4.61 1.38 9.85 9.67 NorthernStrIV A NSTD ... 24 9.83 +0.01 ... 10.88 6.14 PermRock PRT 8.1 10 8.63 +0.17.0907
56.94 36.98 KBR KBR 1.0 51 49.22 +0.54 .12 366.36 233.87 LithiaMotors LAD .7 6 238.08 –18.96 .42 12.20 2.81 McEwenMining MUX ... dd 3.48 –0.07 ... 497.20 344.89 NorthropGrum NOC 1.4 14 485.20 –6.21 1.73 50.90 31.32 Perrigo PRGO 2.6 dd 40.10 +0.95 .26
25.98 7.31 KE Holdings BEKE ... dd 17.57 –0.46 ... 41.56 18.89 LithiumAmericas LAC ... dd 28.50 –3.22 ... 375.23 193.89 McKesson MCK .6 37 346.25 –19.96 .54 57.63 43.07 NorthwestNat NWN 4.0 19 47.92 –0.75.4825 16.30 9.20 PetroleoBrasil PBR 47.1 3 13.10 –0.70.1643
9.90 9.70 KKR AcqnI A KAHC ... 38 9.82 ... ... 127.75 79.50 LiveNationEnt LYV ... dd 87.43 –5.69 ... 21.17 7.59 MediaAlpha MAX ... dd 8.15 –0.76 ... 29.45 10.31 NorwegCruise NCLH ... dd 15.31 +0.71 ... 15.04 8.89 PetroleoBrasilA PBR.A52.6 2 11.71 –0.65.1643
83.90 44.28 KKR KKR 1.3 38 48.52 –2.98 .155 10.00 9.55 LiveOakCrestA LOCC ... dd 9.73 –0.02 ... 24.13 13.30 MedicalProp MPW 8.4 7 13.80 –1.05 .29 9.57 3.38 NouveauMonde NMG ... dd 5.78 –0.74 ... 61.71 40.94 Pfizer PFE 3.5 9 46.03 –1.81 .40
23.40 16.47 KKR RealEstFin KREF 9.0 10 19.20 –0.42 .43 10.30 9.64 LiveOakCrestview LOCC.UT ... ... 9.78 –0.04 ... 235.71 116.50 Medifast MED 5.5 9 118.96 –6.85 1.64 94.26 79.09 Novartis NVS 2.7 8 80.65 –1.952.1823 112.48 85.64 PhilipMorris PM 5.3 16 95.56 –1.50 1.27
10.22 2.13 KoreGroup KORE ... dd 2.17 –0.38 ... 9.88 9.67 LiveOakMobilityA LOKM ... 25 9.86 +0.01 ... 131.31 85.66 Medtronic MDT 3.0 23 90.25 +0.52 .68 122.16 91.51 NovoNordisk NVO 1.1 30 101.42 –7.11.5836 111.28 63.19 Phillips66 PSX 4.8 7 80.73 –7.30 .97
15.30 12.33 KT KT 5.0 5 12.83 –0.55.5639 36.38 19.35 Livent LTHM ... 61 33.30 –1.15 ... 14.87 4.94 MemberCollect MCG ... dd 5.66 –0.33 ... 12.24 3.26 NuHoldings NU ... dd 5.28 –0.11 ... 9.66 2.10 PhoenixNewMedia FENG ... dd 4.99 –0.01 ...
240.47 166.43 Kadant KAI .6 18 170.28 –12.83 .26 58.74 18.74 LiveRamp RAMP ... dd 19.44 –1.01 ... 95.72 70.89 Merck MRK 3.1 13 87.72 +0.38 .69 56.76 36.32 NuSkinEnts NUS 4.1 17 37.38 –3.11 .385 76.10 13.19 Phreesia PHR ... dd 27.70 –0.86 ...
14.23 1.41 Kaleyra KLR ... dd 1.46 –0.08 ... 3.00 1.90 LloydsBanking LYG 4.7 7 2.16 +0.04.0385 57.64 31.29 MercuryGeneral MCY 4.0 dd 32.03 –1.89.3175 187.90 88.50 Nucor NUE 1.7 4 117.08 –26.48 .50 19.30 15.66 PhysiciansRealty DOC 5.6 46 16.30 –0.84 .23
46.50 27.94 Kaman KAMN 2.7 26 30.05 –2.73 .20 8.89 1.34 loanDepot LDI 20.4 dd 1.57 –0.21 .08 26.40 13.81 MeridianLink MLNK ... dd 17.02 –0.84 ... 15.85 8.56 NuScalePower SMR ... dd 13.93 +0.02 ... 19.84 11.55 PiedmontOfficeA PDM 6.9 32 12.19 –0.23 .21
76.99 59.54 Kellogg K 3.3 16 71.08 –0.98 .59 12.87 2.53 LocalBounti LOCL ... dd 2.56 –0.82 ... 125.01 62.51 MeritageHomes MTH ... 3 74.28 –4.54 ... 18.05 12.84 NuSTAREnergy NS 10.6 dd 15.08 –0.91 .40 11.01 9.72 PineIslandA PIPP ... 29 9.96 +0.01 ...
70.65 41.62 Kemper KMPR 2.7 dd 46.34 –2.30 .31 479.99 324.23 LockheedMartin LMT 2.7 24 414.29 –7.24 2.80 28.00 5.20 MesaRoyalty MTR 4.5 17 16.47 +0.29.2932 117.25 60.60 Nutrien NTR 2.2 7 86.06 –9.00 .48 30.40 15.85 PingIdentity PING ... dd 28.17 –0.09 ...
41.22 21.35 Kennametal KMT 3.7 13 21.58 –2.30 .20 68.20 51.35 Loews L .5 13 53.96 –2.90.0625 37.36 20.02 MesabiTrust MSB 22.9 7 22.10 –2.55 .84 10.45 2.19 NuvationBio NUVB ... dd 2.27 –0.57 ... 80.51 62.78 PinnacleWest PNW 4.6 15 73.63 –3.41 .85
25.30 17.26 KennedyWilson KW 5.4 19 17.64 –0.68 .24 7.49 4.45 LomaNegra LOMA 4.0 15 6.41 –0.40.3895 12.48 0.93 MetaData AIU ... ... 1.03 –0.05 ... 39.53 29.19 nVentElectric NVT 2.1 19 32.59 –2.65 .175 66.00 16.14 Pinterest PINS ... 79 24.92 –0.63 ...
72.90 36.24 KenonHoldings KEN ... 1 39.25 –0.85 ... 9.97 9.68 LongviewII A LGV ... 30 9.81 –0.01 ... 10.15 9.57 MetalsAcqn MTAL ... 36 9.78 –0.02 ... 30.93 22.23 OFGBancorp OFG 2.9 9 27.32 +0.25 .20 288.46 146.40 PioneerNatRscs PXD 9.8 10 239.50 –0.12 7.47
10.97 9.98 KensingtonCapAcqnV KCGI.UT ... ... 10.21 +0.15 ... 79.77 49.98 LouisianaPacific LPX 1.7 3 52.52 –3.07 .22 49.94 33.91 MethodeElec MEI 1.5 15 37.50 –2.38 .14 42.91 32.49 OGE Energy OGE 4.0 9 40.91 –0.94 .41 193.60 102.60 PiperSandler PIPR 2.2 8 106.48 –9.49 .60
10.38 9.71 KensingtonCapV A KCGI ... 22 9.96 +0.02 ... 263.31 170.12 Lowe's LOW 2.2 15 191.81 –13.84 1.05 73.18 57.05 MetLife MET 3.1 16 65.08 –2.56 .50 17.94 10.64 O-I Glass OI ... 4 13.13 –1.24 ... 8.20 2.51 PitneyBowes PBI 7.7 13 2.60 –0.41 .05
27.17 16.41 KeyCorp KEY 4.4 8 17.70 –0.96 .195 7.90 3.45 LufaxHolding LU 13.4 4 3.52 –0.44 .17 115.78 60.51 MetropolitanBk MCB ... 10 69.21 –3.34 ... 92.26 62.52 ONE Gas OGS 3.1 20 79.44 –1.29 .62 10.25 9.66 PivotalInvtIII A PICC ... 29 9.84 ... ...
 September 19, 2022 BARRON’S 45

D ATA NEW YORK STOCK EXCHANGE COMPOSITE LIST B A R R ON S .C OM / D ATA

–52-Week– Tick Div –52-Week– Tick Div –52-Week– Tick Div –52-Week– Tick Div –52-Week– Tick Div
High Low Name Sym Yld P/E Last Chg. Amt. High Low Name Sym Yld P/E Last Chg. Amt. High Low Name Sym Yld P/E Last Chg. Amt. High Low Name Sym Yld P/E Last Chg. Amt. High Low Name Sym Yld P/E Last Chg. Amt.
99.60 61.11 PlanetFitness PLNT ... 89 65.58 –5.70 ... 11.60 7.59 SFL SFL 8.9 8 10.32 –0.45 .23 58.50 40.92 Stantec STN 1.2 35 47.04 –2.09.1411 106.31 71.86 Toro TTC 1.4 24 88.85 –0.94 .30 30.17 7.11 VermilionEnergy VET 1.1 6 23.13 –1.53.0628
12.15 3.70 PlanetLabs PL ... dd 6.49 +1.13 ... 10.56 4.42 SignaSports SSU ... dd 5.38 –0.57 ... 13.90 6.26 Starrett A SCX ... 5 9.50 +0.49 ... 86.02 58.64 TorontoDomBk TD 4.1 11 66.21 –1.37.6833 18.44 2.72 VerticalAerospace EVTL ... ... 6.18 +0.43 ...
10.45 4.21 PlayAGS AGS ... dd 6.44 –0.29 ... 17.61 12.40 SITE Centers SITC 4.1 18 12.83 –0.60 .13 10.90 2.00 StarryGroup STRY ... dd 2.12 –0.08 ... 20.95 3.71 Torrid CURV ... dd 5.68 –0.82 ... 27.97 7.76 Vertiv VRT .1 cc 12.33 –1.04 .01
32.37 17.04 PlymouthIndREIT PLYM 4.1 dd 21.25 +1.16 .22 73.69 55.74 SJW Group SJW 2.2 37 64.12 –0.60 .36 7.16 2.60 Startek SRT ... 19 3.37 –0.38 ... 10.15 9.61 TortoiseEcoIII A TRTL ... 24 9.79 +0.02 ... 52.73 25.18 Viad VVI ... dd 36.37 –2.01 ...
132.50 94.24 Polaris PII 2.4 16 107.83 –4.99 .64 51.70 19.73 SK Telecom SKM 7.3 6 20.39 –0.52.3615 26.36 19.69 StarwoodProp STWD 8.4 9 22.97 –0.52 .48 61.15 43.21 TotalEnergies TTE ... 6 50.16 –0.52 ... 15.79 2.82 VicariousSurgical RBOT ... 22 4.05 –0.34 ...
9.95 9.65 PontemA PNTM ... 34 9.92 ... ... 85.15 42.74 SLGreenRealty SLG 8.0 10 46.90 –1.39.3108 104.87 58.80 StateStreet STT 3.6 10 70.10 –2.90 .63 15.33 7.71 TownsquareMedia TSQ ... 7 7.85 –0.81 ... 65.20 26.14 Victoria'sSecret VSCO ... 6 32.13 –2.38 ...
57.03 45.02 PortlandGenElec POR 3.6 19 50.15 –2.00.4525 54.97 20.83 SM Energy SM .7 6 43.30 –2.64 .15 47.62 27.40 SteelPartners SPLP ... 8 42.05 –1.16 ... 213.74 140.19 ToyotaMotor TM 2.7 8 140.74 –4.852.2028 11.57 6.28 VinceHolding VNCE ... dd 6.58 –0.92 ...
91.48 61.67 PostHoldings POST ... 8 86.85 –2.39 ... 10.31 9.95 SoarTechAcqnA FLYA ... 31 10.26 +0.01 ... 13.69 9.12 Steelcase SCS 6.3 53 9.27 –2.08 .145 23.54 2.52 Traeger COOK ... dd 3.08 –0.24 ... 13.32 5.75 Vipshop VIPS ... 9 9.41 –1.31 ...
10.07 9.60 PostHldgsA PSPC ... 25 9.70 –0.03 ... 141.05 4.91 SOS SOS ... dd 5.10 –1.08 ... 21.92 11.37 Stellantis STLA ... 2 13.47 +0.06 ... 9.99 9.62 TrajectoryAlphaA TCOA ... dd 9.83 +0.01 ... 26.50 5.14 VirginGalactic SPCE ... dd 5.31 –0.69 ...
20.75 14.14 PostalRealty PSTL 5.8 cc 15.94 +0.60.2325 68.24 41.66 SPX Tech SPXC ... cc 55.84 –3.51 ... 27.50 5.72 Stem STEM ... dd 16.44 +0.04 ... 204.23 120.64 TraneTech TT 1.7 25 155.69 –8.14 .67 4.45 0.99 VirnetX VHC ... dd 1.32 –0.07 ...
33.29 10.60 PowerSchool PWSC ... dd 18.17 –0.01 ... 16.17 2.61 SQZ Biotech SQZ ... dd 2.80 –0.19 ... 129.35 94.77 Stepan SCL 1.4 15 96.22 –5.43 .335 12.13 8.91 Transalta TAC 1.6 dd 9.39 –0.09.0395 236.96 185.91 Visa V .8 30 193.30 –11.90 .375
87.19 29.26 PrecisionDrilling PDS ... dd 61.13 +0.66 ... 48.27 29.43 STAG Indl STAG 4.7 24 30.96 –0.94.1217 255.93 192.40 Steris STE 1.0 52 193.72 –16.58 .47 47.76 33.51 TrancntlRlty TCI ... 7 39.52 +0.02 ... 22.71 16.73 Vishay VSH 2.1 8 18.76 –0.76 .10
63.83 50.19 PrestigeCnsHlth PBH ... 13 51.50 –0.62 ... 10.01 9.69 ST Ener I A STET ... 25 9.99 +0.01 ... 29.18 13.36 Stevanato STVN .3 34 17.41 –0.42.0546 686.06 500.08 TransDigm TDG .0 45 581.93 –37.9918.50 38.86 27.03 VishayPrecision VPG ... 16 32.40 –1.32 ...
9.95 9.68 PrimaveraCapA PV ... 28 9.93 ... ... 36.13 24.48 StoreCapital STOR 4.8 27 31.90 +4.17 .385 81.00 45.63 StewartInfo STC 3.6 5 49.69 –3.98 .45 5.56 2.32 Transocean RIG ... dd 3.03 –0.72 ... 10.82 4.08 VistaEnergy VIST ... 6 9.80 –0.47 ...
10.17 9.76 PrimeImpactI A PIAI ... 27 10.04 ... ... 90.73 38.83 SabineRoyalty SBR 5.5 13 75.93 –4.85 .836 83.28 52.55 StifelFinancial SF 2.0 9 58.62 –3.42 .30 8.29 4.05 TransportadGas TGS ... 5 7.64 ... ... 52.69 25.68 VistaOutdoor VSTO ... 3 27.08 –1.98 ...
179.51 110.22 Primerica PRI 1.7 15 128.25 –0.04 .55 5.44 3.02 SafeBulkers SB 6.6 2 3.05 –0.21 .05 52.15 28.35 STMicroelec STM .6 10 35.84 –1.22 .06 120.91 65.99 TransUnion TRU .6 44 66.64 –10.19 .105 27.39 16.51 Vistra VST 2.9 dd 25.31 +0.06 .184
20.12 12.15 PrimoWater PRMW 2.1 dd 13.55 –0.94 .07 8.98 3.32 SafeguardSci SFE ... dd 4.12 –0.22 ... 3.50 1.83 StoneMor STON ... dd 3.43 –0.01 ... 63.19 37.67 Travel+Leisure TNL 3.9 10 40.61 –3.03 .40 13.29 3.26 VivintSmartHome VVNT ... dd 6.77 –0.20 ...

.
27.55 20.17 ProAssurance PRA 1.0 29 20.88 –0.42 .05 81.38 33.61 Safehold SAFE 2.0 23 36.09 –3.64 .177 23.46 13.64 Stoneridge SRI ... dd 18.12 –0.69 ... 187.98 145.40 Travelers TRV 2.3 11 162.33 –1.82 .93 167.83 91.53 VMware VMW ... 30 112.44 –5.68 ...
105.29 40.00 ProcoreTech PCOR ... dd 53.14 –4.33 ... 311.75 149.56 Salesforce CRM ... cc 151.51 –11.08 ... 44.93 25.65 Stride LRN ... 16 40.11 +0.90 ... 13.19 9.69 Tredegar TG 5.2 6 9.95 –0.36 .13 14.34 1.22 Volta VLTA ... dd 2.47 +0.35 ...

ly
165.35 129.50 Procter&Gamble PG 2.6 24 138.28 –1.68.9133 21.86 11.28 SallyBeauty SBH ... 7 14.06 –0.69 ... 280.43 188.84 Stryker SYK 1.3 41 221.25 –8.75 .695 50.39 29.47 TreeHouseFoods THS ... dd 44.35 +0.12 ... 35.78 19.09 Vontier VNT .5 6 19.53 –2.28 .025
129.76 89.35 Progressive PGR .3 89 124.89 –3.79 .10 31.41 8.72 Samsara IOT ... dd 12.63 –0.42 ... 9.65 1.52 StudioCity MSC ... dd 1.80 +0.17 ... 140.98 44.49 Trex TREX ... 21 46.98 –2.75 ... 47.26 25.27 VornadoRealty VNO 7.9 41 26.74 –0.96 .53
174.54 106.46 Prologis PLD 2.8 23 113.67 –15.96 .79 15.43 4.54 SanJuanBasin SJT 7.5 11 11.32 –0.26.1834 81.72 51.11 SturmRuger RGR 5.4 7 51.78 –2.30 .47 28.29 15.05 TriPointe TPH ... 3 16.18 –0.96 ... 74.97 56.20 VoyaFinancial VOYA 1.3 12 62.85 –0.61 .20
10.12 4.33 PropertyGuru PGRU ... dd 4.67 –0.44 ... 10.15 9.80 SandbridgeX2 SBII.UT ... ... 9.81 ... ... 17.75 13.83 SuburbanPropane SPH 7.8 6 16.62 –0.05 .325 17.23 9.33 TriconRes TCN 2.3 3 10.14 –0.65 .058 213.65 137.54 VulcanMatls VMC 1.0 36 159.40 –12.41 .40
16.93 7.08 ProPetro PUMP ... dd 8.70 –0.40 ... 9.90 9.61 SandbridgeX2 A SBII ... 29 9.81 ... ... 7.74 5.70 SumitomoMits SMFG 2.5 6 6.06 –0.08.1542 10.10 9.72 TrineIIAcqnA TRAQ ... 26 10.06 +0.01 ... 10.05 9.72 VyGlblGrowthA VYGG ... 21 10.01 +0.02 ...
80.46 64.40 ProsperityBcshs PB 2.9 13 70.66 –0.46 .52 29.28 9.07 SandRidgeEnergy SD ... 4 17.76 –1.54 ... 10.94 6.70 SummitHotelProp INN .0 dd 7.81 –0.31 .04 109.40 69.16 TriNet TNET ... 13 76.35 –5.81 ...
79.27 36.92 ProtoLabs PRLB ... 43 37.62 –2.44 ... 9.18 5.31 SandstormGold SAND 1.0 19 6.00 –0.11.0154 41.46 21.99 SummitMaterials SUM ... 12 26.80 –2.29 ... 35.35 20.94 TrinityIndustries TRN 4.0 51 22.92 –1.34 .23 W

on
26.20 21.26 ProvidentFinSvcs PFS 4.1 11 23.41 +0.23 .24 30.25 22.35 SaratogaInvt SAR 8.4 13 25.50 –0.97 .54 39.35 11.52 SummitMidstream SMLP ... dd 15.79 –0.46 ... 61.63 23.37 Trinseo TSE 5.3 3 24.15 –2.94 .32
124.22 89.73 PrudentialFin PRU 5.2 17 91.92 –6.56 1.20 28.37 14.67 Sasol SSL ... 4 17.64 –1.07 ... 211.79 148.64 SunComms SUI 2.3 56 152.43 –6.30 .88 16.60 8.68 TripleFlagPrecMtl TFPM 1.5 43 12.49 +0.03 .05 9.01 2.97 W&T Offshore WTI ... 7 6.63 +0.05 ...
42.46 20.26 Prudential PUK ... 14 22.15 –0.37 ... 56.22 40.00 SaulCenters BFS 5.7 24 41.35 –2.05 .59 58.49 42.83 SunLifeFinancial SLF 4.9 9 43.49 –2.06.5455 19.25 11.86 TriplePtVent TPVG 11.5 9 12.56 –0.91 .36 108.39 86.84 WEC Energy WEC 2.9 23 101.29 –5.15.7275
75.61 58.19 PublicServiceEnt PEG 3.3 dd 66.36 –1.64 .54 49.83 26.64 Schlumberger SLB 1.8 21 38.37 –1.28 .175 9.82 5.85 SunCokeEnergy SXC 5.2 6 6.14 –0.55 .08 10.00 9.69 TristarAcqnI TRIS ... 22 9.91 ... ... 197.70 123.01 WEX WEX ... 34 146.39 –12.11 ...
421.76 292.32 PublicStorage PSA 2.6 27 313.15 –26.01 2.00 27.50 20.69 SchneiderNatl SNDR 1.5 8 20.96 –1.49 .08 42.72 18.45 SuncorEnergy SU 4.8 6 30.74 –0.91.3589 72.34 48.34 TritonIntl TRTN 4.3 6 59.88 –2.29 .65 91.48 67.07 WNS WNS ... 30 82.94 –3.83 ...
58.09 35.03 PulteGroup PHM 1.5 4 39.36 –2.41 .15 96.24 59.35 SchwabC SCHW 1.2 24 71.87 –2.67 .22 7.00 2.16 SunlandsTech STG .0 1 4.14 –0.11 .63 89.63 73.02 W.P.Carey WPC 5.0 31 84.60 –1.611.059
27.85 9.81 TriumphGroup TGI ... dd 10.43 –1.82 ...
36.71 21.90 PureStorage PSTG ... dd 28.73 –1.57 ... 97.82 78.10 ScienceApplicat SAIC 1.6 20 93.15 –1.51 .37 6.36 2.41 SunlightFinl SUNL ... dd 3.18 +0.11 ... 83.70 41.60 WPP WPP 4.7 12 43.66 –1.12.9052
26.33 13.02 Tronox TROX 3.7 4 13.68 –0.94 .125
10.48 9.85 PyrophyteAcqn PHYT ... 35 10.12 –0.01 ... 45.95 11.02 ScorpioTankers STNG .9 dd 43.10 –1.13 .10 46.40 12.47 SunnovaEnergy NOVA ... dd 27.36 –0.77 ... 21.63 12.23 WabashNational WNC 2.1 38 15.28 –0.26 .08
32.91 15.77 TrueBlue TBI ... 9 19.91 –0.52 ...

us ,
11.75 6.07 PzenaInvtMgmt PZN 1.3 12 9.60 +0.01 .03 180.43 52.20 ScottsMiracleGro SMG 4.9 dd 54.38 –3.52 .66 46.95 34.26 Sunoco SUN 8.3 7 39.97 –0.19.8255 100.05 78.26 Wabtec WAB .7 25 85.95 –5.28 .15
68.95 44.68 TruistFinl TFC 4.4 11 47.62 –0.86 .52 156.77 88.20 Walker&Dunlop WD 2.5 11 95.34 –6.11 .60
90.85 34.42 Q2Holdings QTWO ... dd 37.68 –4.26 ... 11.56 7.15 ScullyRoyalty SRL 14.0 19 7.58 –0.17 .26 13.91 9.30 SunstoneHotelInv SHO .0 16 11.04 –0.25 .05 18.85 6.95 TsakosEnergy TNP 1.1 dd 17.90 +0.06 .10

l
58.00 41.32 Qiagen QGEN ... 19 43.40 –2.76 ... 10.30 9.80 SculptorAcqnIA SCUA ... 15 10.03 ... ... 12.48 3.90 SuperGroup SGHC ... dd 4.20 +0.02 ... 27.50 7.28 Wallbox WBX ... ... 9.45 +0.77 ...
24.71 5.54 Tupperware TUP ... dd 7.91 –1.94 ... 160.77 117.27 Walmart WMT 1.7 27 133.19 –3.65 .56
7.55 2.55 QuadGraphics QUAD ... dd 3.39 –0.42 ... 28.78 7.90 SculptorCapMgmt SCU 7.6 dd 9.11 –0.70 .13 7.76 3.11 SuperiorIndsIntl SUP ... dd 3.89 –0.12 ...

e
4.61 2.33 TurkcellIletism TKC 3.8 6 3.19 –0.13.0826 10.79 9.66 WarburgPincusI-A WPCA ... 38 9.90 +0.01 ...

al a
276.60 129.79 QuakerHoughton KWR 1.1 34 157.36 –22.72 .435 372.70 54.06 Sea SE ... dd 59.01 –4.46 ... 9.90 9.67 Supernova III A STRE ... 39 9.90 +0.03 ... 49.46 22.04 TurningPoint TPB 1.1 11 22.50 –1.50 .06
10.10 0.25 QuanergySystems QNGY ... dd .27 –0.03 ... 22.22 10.94 SeabridgeGold SA ... cc 12.40 –0.50 ... 12.83 8.06 Suzano SUZ 1.5 5 8.23 –0.51 .116 9.92 9.68 WarburgPincusI-B A WPCB ... 42 9.90 +0.01 ...
32.09 9.75 TurquoiseHill TRQ ... 11 30.19 –1.07 ... 60.30 10.86 WarbyParker WRBY ... dd 13.69 –2.27 ...
25.94 18.87 QuanexBldg NX 1.6 8 19.72 –1.50 .08 70.72 47.89 SealedAir SEE 1.6 13 48.65 –6.66 .20 56.20 10.78 Sweetgreen SG ... dd 18.03 –2.20 ... 15.67 6.29 TutorPerini TPC ... dd 6.90 –0.03 ...
76.57 40.01 SeaWorldEnt SEAS ... 15 53.59 –2.27 ... 34.06 23.00 Switch SWCH .6 22 34.00 ....0525 42.95 20.25 WarriorMetCoal HCC .9 2 28.02 –3.27 .80
149.33 93.91 QuantaServices PWR .2 45 137.42 –9.34 .07 10.78 1.00 Tuya TUYA ... dd 1.01 –0.23 ...
53.00 23.10 Sylvamo SLVM 1.2 13 37.07 –1.24.1125 26.79 19.21 WashingtonREIT WRE 3.4 cc 20.18 –0.22 .17

ci on
10.22 9.76 QuantumFin QFTA ... 53 9.86 +0.01 ... 10.43 4.88 SelectEnergySvcs WTTR ... 42 7.19 –0.31 ... 373.00 64.29 Twilio TWLO ... dd 73.91 +1.72 ...
37.08 21.40 SelectMedical SEM 1.9 15 26.14 –0.48 .125 52.49 27.22 SynchronyFin SYF 2.8 5 32.51 –0.91 .23 148.20 113.50 WasteConnections WCN .6 55 144.81 –1.59 .23
43.08 8.22 QuantumScape QS ... dd 11.31 +0.40 ... 10.00 9.67 TwinRidgeCapA TRCA ... 33 9.90 +0.02 ...
15.03 0.95 SelectQuote SLQT ... dd 1.26 –0.17 ... 54.40 34.15 SynovusFin SNV 3.5 8 39.08 –2.45 .34 175.98 138.58 WasteMgt WM 1.5 33 169.34 –4.06 .65
2.18 0.63 Qudian QD ... dd .97 +0.05 ... 68.41 31.30 Twitter TWTR ... dd 41.45 –0.74 ... 3.01 0.90 Waterdrop WDH ... dd 1.28 +0.08 ...
174.16 123.32 QuestDiag DGX 2.1 10 124.73 –5.27 .66 176.47 119.56 Sempra SRE 2.7 47 168.44 –5.321.145 91.53 68.05 Sysco SYY 2.5 30 78.19 –5.70 .49 9.90 9.65 twoA TWOA ... dd 9.88 +0.01 ...
28.93 7.41 Semrush SEMR ... dd 11.52 –0.84 ... 37.10 6.57 System1 SST ... dd 7.47 –3.46 ... 405.06 280.75 Waters WAT ... 25 283.93 –28.35 ...
7.92 1.68 QuotientTech QUOT ... dd 2.29 +0.39 ... 6.81 4.26 TwoHarbors TWO 14.1 9 4.81 –0.14 .17 318.98 220.68 Watsco WSO 3.3 20 269.93 –16.06 2.20
18.62 9.73 SendasDistrib ASAI .9 15 16.95 –1.36.1245 T 557.55 300.85 TylerTech TYL ... 86 360.98 –24.21 ...
RS 65.58 38.31 SensataTechs ST 1.1 25 40.05 –1.87 .11 314.00 233.91 Watsco B WSO.B 3.2 21 274.58 –9.62 2.20
100.72 71.41 TysonFoods TSN 2.6 6 72.01 –3.56 .46 212.00 116.31 WattsWater WTS .9 21 129.11 –9.79 .30
106.32 72.75 SensientTech SXT 2.2 23 74.30 –5.45 .41 6.72 1.60 TAL Education TAL ... dd 5.25 –0.15 ...
10.31 9.73 RCF Acqn A RCFA ... 19 10.04 +0.01 ... 78.53 18.64 SentinelOne S ... dd 26.47 –1.58 ... U 10.00 9.50 WaverleyCap1 A WAVC ... dd 9.74 –0.02 ...
32.71 24.81 RELX RELX 2.5 24 25.41 –1.21.1802 59.38 44.77 TC Energy TRP 5.9 19 46.99 –1.58.7001 298.00 43.31 Wayfair W ... dd 45.20 –6.77 ...
6.20 2.28 SequansComms SQNS ... ... 3.86 –0.13 ... 9.85 9.63 TCW Spac A TSPQ ... 38 9.80 –0.02 ...

er s
33.05 20.24 RE/MAX RMAX 4.5 dd 20.53 –1.96 .23 17.12 4.90 SeritageGrowth SRG ... dd 11.80 –0.83 ... 21.49 0.92 UBS Group UBS 3.0 7 16.43 –0.13 .50 22.40 2.91 WeaveComms WEAV ... dd 5.76 –0.70 ...
18.35 9.50 REV REVG 1.7 cc 11.81 –0.28 .05 30.00 6.52 TDCX TDCX ... 18 9.86 –0.80 ... 18.43 5.72 Weber WEBR .0 dd 6.40 –0.44 .04
75.11 57.27 ServiceCorp SCI 1.7 13 60.60 –2.59 .25 119.30 88.21 TD Synnex SNX 1.3 15 90.09 –6.20 .30 61.06 42.00 UDR UDR 3.4 94 44.64 –3.34 .38
708.58 207.37 RH RH ... 12 257.65 –15.91 ... 707.60 406.47 ServiceNow NOW ... cc 425.80 –44.23 ... 47.04 33.05 UGI UGI 3.9 6 36.50 –3.21 .36 65.00 40.72 WebsterFin WBS 3.4 15 46.71 –1.84 .40
To reprint or license content, please contact Barron's reprints department at 800-843-0008 or www.djreprints.com

121.93 96.22 RLI RLI 1.0 29 108.51 –4.37 .26 166.44 107.12 TE Connectivity TEL 1.8 16 122.73 –6.31 .56 86.76 52.01 WeisMarkets WMK 1.7 17 73.50 –6.73 .32
97.25 70.96 ServisFirst SFBS 1.1 20 83.19 –1.56 .23 23.04 17.94 Tegna TGNA 1.8 9 21.68 –0.05 .095 27.50 16.50 UMH Prop UMH 4.4 dd 18.16 –0.36 .20
16.22 10.20 RLJ Lodging RLJ 1.7 dd 12.07 –0.41 .05 60.30 36.54 WellsFargo WFC 2.7 11 43.94 –1.39 .30
6.47
12.91
1.16
3.69
RLX Tech
RPC
RLX ...
RES 1.1 20
4 1.20
7.52
–0.17 ...
–0.42 .02
100.85
12.81
37.72
0.75
m er
ShakeShack
Shapeways
SHAK ...
SHPW ...
dd
dd
49.61
.75
–1.13 ...
–0.07 ...
27.50
39.91
21.34
20.73
Telus
TelusIntl
TU 4.8
TIXT ...
21
52
21.69
29.04
–0.82 .26
–1.09 ...
61.10
20.14
40.53
14.21
Unitil
USA Compression
UTL 3.1
USAC11.8
19
dd
49.78
17.78
–1.59 .39
–0.47 .525 99.43
147.05
70.56
99.00
Welltower
WescoIntl
WELL 3.4
WCC ...
cc
11
72.82
127.27
–4.77 .61
–17.37 ...
31.60 25.08 ShawComm B SJR 3.5 19 25.42 –1.02.0767 33.67 25.44 US Cellular USM ... 18 26.90 –0.72 ...
101.48 74.56 RPM RPM 1.8 23 88.31 –7.52 .40 61.68 39.01 Shell SHEL 3.6 6 52.54 –1.11 .50
51.31 28.02 Ternium TX 9.2 1 28.26 –3.69 1.80
39.73 27.48 US Foods USFD ... 42 29.62 –1.70 ... 102.96 71.35 WestFraserTimber WFG 1.5 3 80.42 –4.98 .30
14.99 8.95 RPTRealty RPT 5.6 50 9.28 –0.43 .13 120.50 71.63 TFI Intl TFII 1.1 13 94.91 –9.68.2702 475.00 266.31 WestPharmSvcs WST .3 30 268.06 –45.45 .18
354.15 214.22 SherwinWilliams SHW 1.1 33 221.56 –18.79 .60 15.61 9.81 TIM TIMB 4.2 11 11.53 –0.83.2035 10.94 9.66 USHG Acqn A HUGS ... 76 9.84 –0.01 ...
24.84 17.97 RadianGroup RDN 3.8 5 20.82 –0.34 .20 131.50 75.11 US PhysTherapy USPH 2.1 27 77.71 –0.28 .41 124.93 68.41 WestAllianceBcp WAL 2.0 8 71.70 –6.24 .36
87.66 29.39 Shift4Paymts FOUR ... dd 47.43 –0.07 ... 77.35 53.69 TJX TJX 1.8 23 64.66 –1.96 .295
38.06 1.60 Rafael RFL ... dd 2.20 +0.02 ... 26.50 11.00 WstAstMtgCap WMC12.0 dd 13.35 –0.76 .40
34.92 24.82 ShinhanFin SHG 6.1 4 25.87 –0.03.2999 9.89 9.67 TLGAcqnOneA TLGA ... 31 9.85 +0.01 ... 21.54 7.23 US Silica SLCA ... dd 12.86 –0.78 ...
135.99 86.54 RalphLauren RL 3.2 12 93.49 –3.05 .75 29.50 18.89 WesternMidstrm WES 7.4 10 27.20 –1.08 .50
176.29 29.07 Shopify SHOP ... dd 31.73 –3.08 ... 9.40 2.13 US Xpress USX ... dd 2.41 –0.26 ...
m rp
12.62 9.80 TPGPaceBenA TPGY ... 5 10.01 +0.01 ... 21.40 13.66 WesternUnion WU 6.6 6 14.15 –0.76 .235
37.44 16.71 RangeResources RRC 1.1 15 29.69 –1.42 .08 10.26 9.80 ShoulderUpTechA SUAC ... dd 9.97 –0.03 ... 7.51 3.14 UWM UWMC10.8 6 3.69 –0.05 .10
10.05 9.70 TPGPaceBenII YTPG ... dd 9.75 ... ... 141.19 80.47 Westlake WLK 1.6 4 90.85 –9.37 .357
11.87 7.52 RangerEnergySvcs RNGR ... 65 10.15 +0.26 ... 128.36 50.04 Shutterstock SSTK 1.8 26 54.61 –3.27 .24 48.88 19.90 Uber UBER ... dd 31.93 +0.15 ...
13.63 8.53 TPG RE Fin TRTX10.5 10 9.12 +0.20 .24 54.78 34.02 WestRock WRK 2.9 10 34.15 –6.66 .25
42.97 4.44 Ranpak PACK ... dd 4.63 –0.60 ... 20.64 8.53 Sibanye-Stillwater SBSW 7.6 5 8.77 –0.90.3246 10.18 9.75 TailwindAcqnA TWND ... 13 10.02 –0.02 ... 333.26 218.15 Ubiquiti UI .8 50 309.07 –3.34 .60
117.37 84.86 RaymondJames RJF 1.3 15 106.85 –1.57 .34 20.38 10.87 Westwood WHG 5.4 20 11.16 –0.30 .15
111.92 48.31 SignetJewelers SIG 1.4 8 56.90 –6.54 .20 9.93 9.66 TailwindIntlA TWNI ... 35 9.92 +0.02 ... 59.57 12.21 UiPath PATH ... dd 14.03 –0.61 ... 14.97 3.53 WeWork WE ... dd 3.63 –0.70 ...
8.32 2.44 RayonierAdvMatls RYAM ... dd 4.42 –0.24 ... 29.88 10.70 SignifyHealth SGFY ... dd 29.20 +0.03 ... 145.00 73.74 TaiwanSemi TSM 1.9 15 77.89 –3.64 .458 3.21 2.13 UltraparPart UGP 5.1 17 2.45 –0.20.0613
45.87 32.39 Rayonier RYN 3.5 34 32.77 –3.09 .285 43.04 30.60 Weyerhaeuser WY 2.3 9 30.73 –3.89 .18
48.61 37.10 SilganHoldings SLGN 1.4 14 46.47 –1.19 .16 17.31 13.05 TakedaPharm TAK 4.7 26 13.45 –0.27.3301 27.28 8.02 UnderArmour A UAA ... 14 8.35 –0.66 ... 51.91 29.66 WheatonPrecMet WPM 1.9 20 32.10 –0.95 .15
106.02 79.00 RaytheonTech RTX 2.6 29 85.20 –2.84 .55 49.91 18.98 SilverBowRscs SBOW ... 6 32.87 –4.69 ... 23.00 7.18 UnderArmour C UA ... 12 7.31 –0.66 ...
For personal non-commercial use only. Do not edit or alter. Reproductions not permitted.

25.49 8.57 TalosEnergy TALO ... 9 20.31 ... ... 8.10 1.47 WheelsUp UP ... dd 1.51 –0.21 ...
16.56 11.05 ReadyCapital RC 13.1 6 12.83 –0.64 .42 239.26 50.65 SilvergateCapital SI ... 23 80.26 –14.60 ... 22.51 13.77 Tanger SKT 5.3 38 15.20 –0.55 .20 25.70 10.53 Unifi UFI ... 14 10.84 –0.21 ...
75.40 62.29 RealtyIncome O 4.6 61 64.31 –2.48 .236 245.44 143.87 Whirlpool WHR 4.8 13 145.06 –15.15 1.75
23.00 6.96 Similarweb SMWB ... dd 7.27 –0.85 ... 47.05 26.39 Tapestry TPR 3.7 10 32.55 –2.97 .30 227.07 154.72 Unifirst UNF .7 29 170.69 –10.22 .30 1393.48 978.51 WhiteMtnIns WTM .1 dd 1382.15 +12.45 1.00
16.98 2.65 Redwire RDW ... ... 2.67 –0.43 ... 9.88 9.68 SimonPropA SPGS ... 28 9.82 –0.01 ... 55.21 42.54 Unilever UL 4.1 18 45.17 –0.84.4555
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81.50 43.22 TargaResources TRGP 2.0 89 68.74 –3.12 .35 13.66 9.05 WhitestoneREIT WSR 4.9 29 9.83 –0.32 .04
14.17 6.57 RedwoodTrust RWT 12.9 18 7.11 –0.24 .23 171.12 93.06 SimonProperty SPG 7.0 16 99.70 –4.07 1.75 268.98 137.16 Target TGT 2.6 19 164.09 –9.56 1.08 278.94 195.68 UnionPacific UNP 2.5 20 212.00 –19.88 1.30
176.91 108.28 RegalRexnord RRX 1.0 25 139.60 –7.26 .35 22.94 15.53 WideOpenWest WOW ... 2 16.42 –2.14 ...
141.26 80.69 SimpsonMfg SSD 1.3 11 81.81 –8.64 .26 65.52 31.08 TaroPharm TARO ... 13 31.08 –2.87 ... 27.30 8.31 Unisys UIS ... dd 8.72 –0.08 ... 58.20 39.43 Wiley A WLY 3.2 21 43.90 –1.75.3475
67.60 30.24 RegionalMgmt RM 3.9 4 31.02 –3.22 .30 10.00 4.07 SiriusPoint SPNT ... dd 4.95 +0.01 ... 35.38 19.67 TataMotors TTM ... dd 26.77 –1.37 ... 12.68 6.24 UnitedMicro UMC ... 6 6.40 –0.11 ...
25.57 18.01 RegionsFin RF 3.6 10 21.93 –0.28 .20 60.00 40.10 Wiley B WLYB 3.5 19 40.10 –1.36.3475
260.00 108.77 SiteOneLandscape SITE ... 19 113.67 –14.19 ... 35.51 20.05 TaylorMorrison TMHC ... 3 24.13 –1.02 ... 57.89 33.63 UnitedNatFoods UNFI ... 10 41.87 –2.68 ... 37.97 24.62 Williams WMB 5.4 25 31.69 –1.08 .425
4.58 0.50 Regis RGS ... dd 1.28 –0.08 ... 31.60 17.04 SitioRoyalties STR 11.7 21 24.23 –1.37 .72
F

3.76 0.52 Team TISI ... dd 1.24 –0.16 ... 233.72 165.34 UPS B UPS 3.4 14 176.71 –21.98 1.52 10.15 9.83 WilliamsRowland WRAC ... dd 10.05 ... ...
132.80 94.32 ReinsGrp RGA 2.5 33 129.07 –0.31 .80 47.24 19.80 SixFlags SIX ... 14 22.34 –1.48 ... 9.39 5.48 TechnipFMC FTI ... dd 9.04 ... ... 414.99 230.54 UnitedRentals URI ... 12 286.04 –25.10 ...
211.66 135.46 RelianceSteel RS 2.0 6 175.46 –21.72 .875 223.32 101.58 Williams-Sonoma WSM 2.3 8 134.34 –16.00 .78
50.81 33.50 SkechersUSA SKX ... 8 35.86 –2.21 ... 45.90 22.75 TeckRscsB TECK 1.2 4 32.08 –2.43.3925 63.57 43.75 US Bancorp USB 4.2 11 45.87 –1.71 .48 80.30 43.05 Winnebago WGO 1.9 5 57.19 –1.71 .27
174.55 124.18 RenaissanceRe RNR 1.0 dd 150.12 +8.24 .37 13.39 4.46 SkeenaRscs SKE ... dd 5.00 –0.20 ... 34.90 16.05 Tecnoglass TGLS 1.4 11 21.08 –2.47 .075 39.25 16.41 US Steel X 1.0 1 20.14 –5.08 .05
9.72 3.46 ReneSola SOL ... dd 5.92 +0.42 ... 9.96 4.92 Wipro WIT 1.4 18 4.96 –0.26.0585
12.88 2.11 Skillsoft SKIL ... dd 2.13 –0.13 ... 4.01 2.54 Teekay TK ... dd 3.62 +0.02 ... 553.29 383.12 UnitedHealth UNH 1.3 27 521.02 –3.32 1.65 142.33 58.07 Wolfspeed WOLF ... dd 120.26 +6.05 ...
30.44 9.69 Renren RENN ... dd 29.99 +1.20 ... 13.13 1.11 Skillz SKLZ ... dd 1.15 –0.20 ... 29.03 9.89 TeekayTankers TNK ... dd 27.57 +0.39 ... 210.00 29.09 UnitySoftware U ... dd 35.54 –5.76 ... 38.07 16.65 WolverineWwide WWW 2.1 13 18.62 –1.17 .10
149.17 113.57 RepublicSvcs RSG 1.4 33 143.64 –4.07 .495 85.92 43.04 SkylineChamp SKY ... 10 54.09 –4.38 ... 21.69 14.83 TejonRanch TRC ... 59 16.03 –1.37 ... 34.00 21.56 Univar UNVR ... 7 23.69 –2.63 ... 25.87 14.93 WoodsideEnergy WDS 9.8 7 21.52 –1.23 1.05
28.35 18.36 ResideoTech REZI ... 9 20.17 –1.58 ... 14.74 2.65 SmartRent SMRT ... dd 2.73 –0.32 ... 156.82 27.38 TeladocHealth TDOC ... dd 30.49 –2.97 ... 64.13 46.24 Universal UVV 6.4 14 49.50 –0.48 .79 39.71 24.28 WooriFin WF 7.1 3 25.48 +0.72 .345
291.75 189.40 ResMed RMD .8 42 223.07 –12.96 .44 80.89 27.05 Smartsheet SMAR ... dd 36.31 –1.45 ... 6.59 3.72 TelecomArgentina TEO 28.9 12 4.30 –0.46.3139 61.32 46.74 UniversalHealth UHT 6.0 6 47.52 –3.35 .71 173.24 59.43 Workiva WK ... dd 66.60 –5.33 ...
20.73 9.84 ResoluteForest RFP ... 4 20.36 –0.02 ... 86.74 50.80 SmithAO AOS 2.2 16 51.72 –4.57 .28 493.97 344.66 TeledyneTech TDY ... 26 371.36 –16.29 ... 158.28 94.70 UniversalHealthB UHS .8 10 98.98 –4.03 .20 35.10 19.29 WorldFuelSvcs INT 2.2 18 25.17 +0.22 .14
63.45 46.68 RestaurantBrands QSR 3.6 23 59.25 –1.64 .54 37.28 23.48 Smith&Nephew SNN 3.0 21 24.32 –1.76 .288 391.39 219.54 Teleflex TFX .6 21 227.35 –14.80 .34 19.64 11.27 UnivInsurance UVE 5.4 dd 11.81 +0.02 .16 10.20 9.76 WorldQuantumA WQGA ... 13 10.01 +0.01 ...
17.65 1.08 Revlon REV ... dd 6.60 –0.06 ... 146.74 119.09 Smucker SJM 2.9 26 138.88 –0.56 1.02 11.78 7.62 TelefonicaBras VIV 8.5 13 7.82 –0.49.0296 11.45 6.17 UnvlTechInst UTI ... 12 6.44 –0.50 ... 75.23 46.91 WW Ent WWE .7 26 67.64 –1.62 .12
89.60 22.27 Revolve RVLV ... 22 24.59 –2.41 ... 83.34 9.34 Snap SNAP ... dd 11.30 –1.35 ... 5.39 3.78 Telefonica TEF .0 64 3.83 –0.07 .103 41.13 22.25 UnumGroup UNM 3.3 7 40.02 +0.86 .33 62.83 39.14 WorthingtonInds WOR 2.4 7 51.25 –0.79 .31
37.81 24.02 RexAmerRes REX ... 9 28.16 –1.10 ... 235.36 190.08 SnapOn SNA 2.6 14 215.46 –7.97 1.42 33.21 23.82 TelekmIndonesia TLK 2.6 16 29.20 –1.241.0389 4.04 0.44 UpHealth UPH ... dd .58 –0.01 ... 93.86 62.89 WyndhamHtls WH 2.0 17 64.59 –4.18 .32
84.68 55.84 RexfordIndlRealty REXR 2.2 62 58.51 –6.38 .315 405.00 110.27 Snowflake SNOW ... dd 184.67 –3.52 ... 21.47 14.46 Telephone&Data TDS 4.6 18 15.63 –0.62 .18 19.96 14.22 UrbanEdgeProp UE 4.2 20 15.37 –1.03 .16
10.75 9.71 RiceAcqnII A RONI ... 22 9.85 –0.01 ... 10.61 9.77 SocialCapHedIV A IPOD ... 18 10.01 ... ... 50.51 20.03 TempurSealy TPX 1.5 9 26.98 –0.88 .10 19.97 14.76 UrstadtBiddle UBP 5.5 24 15.53 +0.33.2145 XYZ
10.46 9.75 RigelResourceA RRAC ... 15 10.06 ... ... 10.99 9.80 SocialCapHedVI A IPOF ... 23 10.01 –0.01 ... 10.10 9.87 10XCapIII A VCXB ... dd 10.08 +0.01 ... 21.66 15.43 UrstadtProp A UBA 5.8 26 16.48 –0.17.2375
315.00 40.59 RingCentral RNG ... dd 42.36 –3.26 ... 9.92 9.65 SocialLvgI A SLAC ... 39 9.84 +0.01 ... 34.76 18.80 Tenaris TS .0 9 27.24 –1.24 .56 103.95 58.05 UsanaHealth USNA ... 13 59.45 –3.12 ... 7.30 1.84 XFinancial XYF ... 1 2.00 –0.43 ...
84.69 53.21 RioTinto RIO 12.4 5 55.17 –2.76 2.67 115.76 46.13 SOQUIMICH SQM 3.4 14 104.15 –6.97.0969 9.10 2.95 TencentMusic TME ... 18 4.57 –0.20 ... 15.98 3.69 UserTesting USER ... dd 3.69 –0.51 ... 6.93 1.05 XL Fleet XL ... dd 1.05 –0.12 ...
n-

27.72 3.76 Riskified RSKD ... dd 4.31 –0.62 ... 14.61 6.11 SolarisOilfield SOI 4.2 31 9.97 –0.51 .105 92.65 50.37 TenetHealthcare THC ... 7 59.04 –2.93 ... 19.98 12.06 UtzBrands UTZ 1.3 cc 16.06 –0.41 .054 88.00 45.09 XPO Logistics XPO ... 8 47.17 –6.70 ...
76.18 48.65 RitchieBros RBA 1.6 25 65.46 –3.00 .27 20.55 8.11 SolarWinds SWI ... dd 8.39 –0.40 ... 85.33 54.90 Tennant TNC 1.7 20 60.16 –1.17 .25 20.41 13.18 XeniaHotels XHR ... dd 16.25 –0.34 ...
17.87 4.68 RiteAid RAD ... dd 7.65 +0.02 ... 23.39 3.66 SoloBrands DTC ... dd 4.74 –0.04 ... 19.60 9.51 Tenneco TEN ... dd 19.09 –0.39 ... V 1.89 0.30 XinyuanRealEst XIN ... dd .56 +0.01 ...
11.81 8.18 RithmCapital RITM 11.1 5 8.98 –0.35 .25 12.24 0.86 Sonendo SONX ... dd .91 –0.15 ... 59.38 30.89 Teradata TDC ... 42 31.18 –1.42 ... 56.45 14.50 XPeng XPEV ... dd 14.56 –1.47 ...
0.08 ... RiverNorthRt OPP.RT ... ... .01 –0.01 ... 59.19 34.17 SonicAutomotive SAH 2.2 5 46.16 –1.24 .25 51.45 26.64 Terex TEX 1.6 10 32.68 –2.93 .13 78.91 39.44 VF VFC 5.0 16 39.80 –3.56 .50 26.90 9.87 XponentialFit XPOF ... dd 19.03 –0.86 ...
125.77 73.10 RobertHalf RHI 2.2 12 76.71 –3.76 .43 36.47 16.80 SonidaSrLiving SNDA ... 2 21.61 +0.70 ... 48.69 36.30 Terminix TMX ... 79 42.49 –2.25 ... 10.69 1.55 ViaOptronics VIAO ... dd 1.60 –0.25 ... 136.15 72.08 Xylem XYL 1.3 40 93.26 –3.61 .30
141.60 21.65 Roblox RBLX ... dd 39.50 –6.03 ... 67.06 51.52 SonocoProducts SON 3.3 14 59.78 –4.93 .49 12.69 3.64 TerranOrbital LLAP ... dd 3.70 –0.34 ... 35.69 26.23 VICI Prop VICI 4.7 33 33.42 –0.30 .39 108.82 33.87 Yeti YETI ... 15 34.58 –4.05 ...
no

18.13 6.27 RocketCos. RKT .0 6 7.60 –0.44 1.01 133.75 71.51 Sony SONY .5 12 71.88 –3.50.2672 86.00 54.51 TerrenoRealty TRNO 2.7 26 58.51 –5.03 .40 22.17 6.47 Vizio VZIO ... dd 11.28 –0.58 ... 7.37 2.82 YPF YPF ... 2 6.97 ... ...
9.91 9.66 RocketInternetA RKTA ... 26 9.90 +0.02 ... 35.32 20.75 SoJerseyInd SJI 3.7 24 33.82 –0.57 .31 5.82 2.32 TetraTech TTI ... 48 4.19 +0.05 ... 8.86 3.86 VOC Energy VOC 16.1 8 6.88 +0.18 .38 10.40 3.10 Yalla YALA ... 8 3.69 –0.33 ...
12.00 0.98 RockleyPhotonics RKLY ... dd 1.13 –0.10 ... 80.57 60.99 Southern SO 3.5 27 77.25 –2.27 .68 11.34 6.78 TevaPharm TEVA ... dd 8.81 –0.36 ... 24.97 2.66 VTEX VTEX ... dd 3.90 –0.50 ... 6.40 3.70 YamanaGold AUY 2.8 15 4.22 –0.47 .03
354.99 190.08 Rockwell ROK 1.9 42 237.90 –17.48 1.12 79.32 44.31 SoCopper SCCO 8.6 12 46.68 –2.52 .75 1899.01 946.29 TexasPacLand TPL .7 36 1773.10 –49.70 3.00 52.67 29.55 V2X VVX ... 15 38.81 +2.59 ... 4.80 0.39 YatsenHolding YSG ... dd 1.17 –0.01 ...
64.55 40.88 RogersComm B RCI 3.6 16 42.41 +0.54.3808 10.41 9.76 SouthportAcqnA PORT ... 18 9.95 –0.08 ... 41.89 25.47 Textainer TGH 3.3 5 29.95 –0.91 .25 8.77 2.40 VaalcoEnergy EGY 2.8 3 4.71 –0.02.0325 41.28 26.28 Yelp YELP ... 54 34.00 –1.46 ...
274.51 178.43 Rogers ROG ... 57 249.23 –4.84 ... 56.33 34.36 SouthwestAir LUV ... 22 34.73 –3.64 ... 79.45 57.11 Textron TXT .1 17 62.83 –3.06 .02 376.24 206.03 VailResorts MTN 3.4 29 222.11 –12.88 1.91 13.13 4.00 Yext YEXT ... dd 4.82 +0.14 ...
39.70 28.51 Rollins ROL 1.1 53 35.57 –0.55 .10 95.62 62.58 SouthwestGas SWX 3.1 33 81.23 –0.90 .62 672.34 497.83 ThermoFisherSci TMO .2 29 541.28 –28.12 .30 63.45 28.87 Valaris VAL ... 87 53.41 –0.56 ... 4.47 0.67 YirenDigital YRD ... 1 1.09 –0.11 ...
5.72 0.44 RomeoPower RMO ... dd .53 –0.10 ... 9.87 3.81 SouthwesternEner SWN ... dd 7.21 –0.44 ... 20.35 13.26 Thermon THR ... 21 16.51 –1.28 ... 21.29 11.16 Vale VALE22.1 3 12.98 –0.53.2959 17.77 4.05 Youdao DAO ... dd 5.05 –0.39 ...
505.00 369.51 RoperTech ROP .6 37 382.10 –28.06 .62 107.22 46.67 SpectrumBrands SPB 3.6 18 47.05 –14.37 .42 123.60 91.55 ThomsonReuters TRI 1.6 cc 110.68 –2.40 .445 12.19 2.71 ValensSemicon VLN ... dd 4.27 –0.05 ... 139.85 108.37 YumBrands YUM 2.0 23 115.72 –0.37 .57
10.57 9.65 RossAcqnIIA ROSS ... 43 9.89 ... ... 19.50 1.12 SpireGlobal SPIR ... dd 1.26 –0.26 ... 128.87 66.26 ThorIndustries THO 2.3 4 75.08 –6.34 .43 146.81 61.86 ValeroEnergy VLO 3.8 6 104.46 –8.86 .98 61.29 33.55 YumChina YUMC 1.0 28 49.78 +0.18 .12
119.41 90.75 RoyalBkCanada RY 4.1 11 95.31 –2.73.9972 79.24 59.60 Spire SR 4.0 18 69.26 –1.03 .685 34.97 8.79 3D Systems DDD ... 5 9.03 –1.08 ... 54.06 21.53 Valhi VHI 1.2 5 27.65 –2.50 .08 91.23 28.88 ZimIntShipping ZIM 91.8 1 29.53 –2.53 4.75
98.27 31.09 RoyalCaribbean RCL ... dd 50.44 +3.20 ... 53.31 24.90 SpiritAeroSys SPR .2 dd 25.80 –3.98 .01 186.30 114.11 3M MMM 5.1 16 116.61 –6.49 1.49 289.98 203.31 ValmontInds VMI .8 27 271.85 –13.42 .55 34.82 19.72 ZTO Express ZTO .0 25 26.79 ... .25
10.50 3.54 RubiconTech RBT ... dd 3.76 –0.39 ... 28.30 15.92 SpiritAirlines SAVE ... dd 22.64 +0.08 ... 28.79 9.75 Tidewater TDW ... dd 23.56 –0.87 ... 37.97 26.70 Valvoline VVV 1.8 11 27.26 –1.64 .125 136.30 54.16 Zendesk ZEN ... dd 76.60 +0.04 ...
21.83 4.06 RushStreetInt RSI ... dd 5.10 –0.25 ... 51.00 35.79 SpiritRealtyCap SRC 6.3 25 42.13 +0.52 .663 10.38 10.05 TigaAcqnA TINV ... 28 10.37 +0.01 ... 28.73 1.49 Vapotherm VAPO ... dd 2.05 +0.10 ... 9.73 1.67 ZeppHealth ZEPP .0 dd 1.79 –0.21 .08
46.40 30.73 RyanSpecialty RYAN ... cc 40.27 –2.29 ... 305.60 89.03 Spotify SPOT ... dd 100.34 –9.94 ... 17.80 6.65 Tilly's TLYS .0 6 7.34 +0.32 1.00 13.38 8.50 VectorGroup VGR 8.6 9 9.35 –0.65 .20 13.46 4.09 ZetaGlobal ZETA ... dd 6.73 –0.93 ...
93.05 61.71 RyderSystem R 3.5 5 71.66 –6.17 .62 10.41 9.65 SpreeAcqn1 A SHAP ... ... 10.07 +0.01 ... 78.52 50.85 Timken TKR 2.0 13 61.96 –5.53 .31 327.78 152.04 VeevaSystems VEEV ... 72 175.03 –4.16 ... 13.92 1.86 ZeviaPBC ZVIA ... dd 4.58 –0.36 ...
44.09 17.90 RyersonHolding RYI 2.2 2 27.89 –1.86 .15 20.29 9.41 Sprinklr CXM ... dd 10.19 –2.11 ... 26.23 12.04 TimkenSteel TMST ... 4 15.11 –1.15 ... 13.18 1.28 Velo3D VLD ... dd 4.61 +0.30 ... 10.71 1.11 Zhihu ZH ... dd 1.12 –0.12 ...
101.19 70.47 RymanHospitality RHP .5 cc 84.95 –1.51 .10 57.00 32.03 Sprott SII 2.8 36 35.77 –3.28 .25 19.81 6.69 TItanIntl TWI ... 6 13.08 –0.59 ... 14.00 9.11 VelocityFinl VEL ... 15 13.00 +0.78 ... 144.71 100.39 ZimmerBiomet ZBH .9 cc 112.69 –1.81 .24
149.92 82.41 SAP SAP 1.8 22 83.94 –3.13 2.66 48.89 14.43 Squarespace SQSP ... dd 20.98 –2.50 ... 69.93 11.91 Toast TOST ... dd 19.15 –2.29 ... 3.47 1.13 VenatorMaterials VNTR ... 3 1.46 –0.19 ... 32.90 13.78 ZipRecruiter ZIP ... 33 17.88 –1.85 ...
484.21 311.87 S&P Global SPGI 1.0 26 346.07 –23.35 .85 62.21 34.43 St.Joe JOE 1.1 27 35.06 –3.13 .10 75.61 40.20 Toll Bros TOL 1.8 5 43.66 –1.68 .20 64.02 45.44 Ventas VTR 3.8 cc 48.00 –1.60 .45 249.27 154.18 Zoetis ZTS .8 36 157.30 –7.01 .325
9.92 8.74 SDCLEDGEAcqn SEDA ... 27 9.89 +0.09 ... 55.09 33.19 StandardMotor SMP 3.1 9 34.37 –1.24 .27 38.09 29.08 TootsieRoll TR 1.1 34 33.99 –1.17 .09 19.90 12.08 VerisResidential VRE ... dd 13.78 –0.23 ... 23.25 7.41 Zuora ZUO ... dd 7.80 –0.53 ...
9.78 3.08 SeacorMarine SMHI ... dd 6.25 –0.51 ... 121.45 79.02 StandexInt SXI 1.3 16 82.46 –5.27 .26 284.07 150.72 TopBuild BLD ... 13 168.54 –17.59 ... 161.10 79.95 Veritiv VRTV ... 7 113.86 –5.99 ... 38.32 25.90 ZurnElkayWaterSol ZWS 1.1 25 26.08 –2.47 .07
11.47 3.61 SES AI SES ... dd 5.74 +0.54 ... 199.20 83.89 StanleyBlackDck SWK 3.7 14 85.45 –4.05 .80 31.55 17.78 TopgolfCallaway MODG ... 30 21.63 –1.40 ... 55.51 40.66 Verizon VZ 6.3 8 41.25 –0.99.6525 37.19 4.11 Zymeworks ZYME ... dd 5.66 +0.44 ...
 46 BARRON’S September 19, 2022

D ATA NASDAQ ISSUES - NEW HIGHS - NEW LOWS B A R R ON S .C OM / D ATA

52-Week Tick Div 52-Week Tick Div 52-Week Tick Div
High Low Name Sym Yld P/E Last Chg. Amt. High Low Name Sym Yld P/E Last Chg. Amt. High Low Name Sym Yld P/E Last Chg. Amt.
10.53 9.80 APxAcqnI A APXI ... 18 10.10 +0.02 ... 9.31 1.25 Biodesix BDSX ... dd 1.68 –0.15 ... 11.09 1.19 Centogene CNTG ... dd 1.39 –0.14 ...

Five-Day Nasdaq Composite 17.50

6.40
4.32
10.61
3.01
0.62
0.58
9.84
ApyxMedical
AquestiveTherap
Aravive
ArborRaphaCapBioI
APYX
AQST
ARAV
ARCK
...
...
...
...
dd
dd
dd
dd
5.65
1.23
1.03
10.12
–0.61 ...
–0.23 ...
+0.14 ...
+0.02 ...
304.21
97.76
14.20
22.00
187.16
70.73
2.84
5.70
Biogen
BioMarinPharm
BiomeaFusion
Bionomics
BIIB ...
BMRN ...
BMEA ...
BNOX ...
15
cc
dd
dd
208.26
88.21
11.63
7.19
–3.58 ...
–4.72 ...
–1.65 ...
–1.01 ...
57.32
52.04
30.36
30.32
36.70
34.53
6.58
7.32
CentralGarden
CentralGardenA
CenturyAluminum
CenturyTherap
CENT ...
CENTA ...
CENX ...
IPSC ...
14
13
12
dd
37.41
35.21
7.20
9.88
–1.89 ...
–1.80 ...
–1.11 ...
–1.52 ...
6.50 1.93 ArbutusBiopharma ABUS ... dd 2.22 –0.02 ... 374.58 117.08 BioNTech BNTX .0 3 145.76 –5.151.5342 3.71 1.53 Ceragon CRNT ... dd 2.08 –0.04 ...
One-and-Done: Promising results with a one-shot gene-editing treat- 125.00 65.16 ArcBest ARCB .7 6 71.75 –4.61 .12 10.14 9.78 BioPlusAcqnA BIOS ... dd 10.05 +0.01 ... 114.85 17.79 Cerence CRNC ... dd 17.93 –1.40 ...
26.91 6.04 Arcellx ACLX ... ... 18.64 –0.72 ... 6.20 0.56 BioraTherap BIOR ... dd .65 –0.05 ... 45.48 13.84 Certara CERT ... dd 14.21 –2.07 ...
ment failed to lift shares of Intellia, or its Crispr-technology peers. The 50.73 37.44 ArchCapital ACGL ... 11 46.52 ... ... 10.53 2.00 Biote BTMD ... 2 4.00 –0.22 ... 8.06 3.69 Cerus CERS ... dd 3.85 –0.30 ...
13.26 1.80 Arcimoto FUV ... dd 1.86 –0.13 ... 17.53 6.30 Bioventus BVS ... dd 7.34 –0.77 ... 10.12 9.81 ChainBridgeIA CBRG ... 27 10.05 +0.01 ...
Nasdaq Composite ended Friday at 11,448—down 5.5% for the week. 23.96
55.46
12.57
11.70
ArcoPlatform
ArcturusTherap
ARCE
ARCT
...
...
dd
dd
12.66
15.57
–1.14 ...
+0.14 ...
9.36
10.07
1.04
1.46
Bitfarms
BlackDiamond
BITF ...
BDTX ...
dd
dd
1.24
2.56
–0.16 ...
–0.38 ...
28.08
25.71
16.64
18.97
ChampionX
ChangeHlthcr
CHX 1.4
CHNG ...
27
dd
21.36
25.49
–1.19 .075
–0.06 ...
27.40 13.59 ArcutisBiotherap ARQT ... dd 17.85 –2.58 ... 86.96 44.99 Blackbaud BLKB ... dd 46.59 –4.27 ... 8.46 1.67 ChargeEnt CRGE ... dd 1.93 –0.27 ...
Monday Tuesday Wednesday Thursday Friday 1.92 0.49 Ardelyx ARDX ... dd 1.31 +0.03 ... 135.00 49.66 BlackLine BL ... dd 66.63 –6.58 ... 769.35 371.61 CharterComms CHTR ... 12 377.58 –28.33 ...
10.81 9.55 ArenaFortifyA AFAC ... 16 10.07 +0.03 ... 4.38 3.43 BlackRockCapInvt BKCC10.6 13 3.77 –0.18 .10 149.62 107.85 CheckPoint CHKP ... 19 117.25 –4.42 ...
23.00 17.03 AresCapital ARCC 9.1 9 18.96 –1.02 .03 14.52 11.76 BlkRkTCPCap TCPC 9.7 13 12.42 –1.01 .30 51.19 26.05 Cheesecake CAKE 3.3 20 32.62 –0.87 .27
12,340 403.77 249.50 arGEN-X ARGX ... dd 373.26 –18.00 ... 9.95 9.61 bleuacaciaA BLEU ... dd 9.83 –0.02 ... 42.16 26.28 ChefsWarehouse CHEF ... 45 34.12 –0.67 ...
21.00 3.71 ArgoBlockchain ARBK ... dd 4.73 ... ... 0.25 0.09 bleuacaciaRt BLEUR ... ... .10 –0.02 ... 51.78 14.95 ChemoCentryx CCXI ... dd 51.55 +0.06 ...
10.50 9.82 ArgusCapitalA ARGU ... 10 10.01 –0.03 ... 10.58 4.09 BlockchainCoinIA BCSA ... 55 10.04 –0.04 ... 49.50 40.74 ChemungFinl CHMG 2.9 7 42.17 –2.17 .31

.
14.95 4.23 Arhaus ARHS ... 16 8.42 –0.64 ... 10.40 9.70 BlockchainMoonA BMAQ ... dd 9.95 +0.01 ... 10.10 9.98 ChengheAcqnA CHEA ... dd 10.07 –0.01 ...
(Previous Friday Close) 9.94 9.70 AriszAcqnA ARIZ ... dd 9.90 –0.01 ... 0.41 0.04 BlockchainMoonRt BMAQR ... ... .08 +0.01 ...
12,030 105.93 56.75 ChesapeakeEner CHK 1.9 9 100.58 –2.20 1.77

ly
9.99 9.34 ArmadaAcqnI AACI ... dd 9.92 +0.03 ... 27.17 15.89 BloominBrands BLMN 2.7 32 20.58 –0.44 .14 20.29 13.87 ChicagoAtlRealEst REFI 12.6 11 14.92 +0.27 .47
10.00 9.80 ArogoCapA AOGO ... dd 9.97 +0.04 ... 23.36 14.59 Blucora BCOR ... 43 19.30 –1.29 ... 25.97 4.35 ChickenSoupA CSSE ... dd 8.82 +0.40 ...
27.67 5.45 ArrayTech ARRY ... dd 17.82 –3.06 ... 25.75 8.41 BlueBird BLBD ... dd 10.13 –0.97 ... 113.50 32.81 Children'sPlace PLCE ... 4 36.33 –4.62 ...
17.99 1.00 Arrival ARVL ... dd 1.01 –0.08 ... 15.47 11.01 BlueFoundryBncp BLFY ... dd 11.73 +0.35 ... 7.42 1.27 Chimerix CMRX ... dd 2.09 –0.28 ...
11,720 37.13 29.61 ArrowFinancial AROW 3.3 11 32.64 +0.97.2621 10.45 9.80 BlueOceanA BOCN ... 21 10.00 –0.02 ... 1.58 0.61 ChinaIndex CIH ... ... .93 –0.06 ...
84.83 26.81 ArrowheadPharm ARWR ... dd 34.59 –3.98 ... 10.38 9.84 BlueWorldA BWAQ ... ... 10.00 +0.01 ... 10.81 3.75 Chindata CD ... 41 8.49 –0.08 ...
10.17 9.70 ArtemisStratInvt ARTE ... 70 9.95 –0.01 ... 0.25 0.06 BlueWorldRt BWAQR ... ... .10 –0.01 ... 23.86 10.48 ChinookTherap KDNY ... dd 20.91 –1.94 ...

on
27.57 6.58 Arteris AIP ... dd 7.46 –0.09 ... 17.85 2.87 bluebirdbio BLUE ... dd 6.34 –0.80 ... 38.99 20.72 ChipMOSTechs IMOS16.7 4 20.88 –1.292.9194
60.36 37.30 ArtesianRscs A ARTNA 2.0 30 55.23 +1.42.2729 117.86 43.46 BlueprintMed BPMC ... dd 69.23 –6.84 ... 181.34 90.02 ChordEnergy CHRD 3.6 3 137.54 –1.37 1.25
11,410 97.33 34.90 Arvinas ARVN ... dd 47.41 –1.56 ... 16.57 1.39 BoltBiotherap BOLT ... dd 1.76 –0.01 ... 262.20 172.75 ChurchillDowns CHDN .3 15 194.39 –13.44 .667
172.65 61.58 AscendisPharma ASND ... dd 107.33 +5.95 ... 2715.66 1669.34 BookingHldgs BKNG ... 50 1876.45 –104.58 ... 34.93 18.64 Chuy's CHUY ... 18 22.95 +0.42 ...
19.20 10.16 AscentIndustries ACNT ... 4 15.23 –0.77 ... 22.82 10.76 BowmanConsult BWMN ... cc 16.60 +0.16 ... 97.91 25.01 Cimpress CMPR ... dd 29.10 –2.01 ...
+154.10 -632.84 +86.10 -167.32 -103.95 3.36 0.36 AslanPharm ASLN ... dd .74 –0.04 ... 11.00 2.30 BraggGaming BRAG ... dd 4.24 –0.62 ... 143.22 93.41 CincinnatiFin CINF 2.8 30 97.41 –3.28 .69
6.04 0.46 AspenGroup ASPU ... dd .50 –0.25 ... 9.18 3.63 Brainsway BWAY ... dd 3.75 –0.17 ... 43.15 13.00 CinCorPharma CINC ... ... 27.63 –2.07 ...
11,100 229.60 173.81 AspenTech AZPN ... ... 226.37 +4.96 ... 98.78 27.09 Braze BRZE ... dd 35.19 –8.15 ... 2.95 0.47 Cinedigm CIDM ... dd .50 –0.04 ...
10 12 2 4 10 12 2 4 10 12 2 4 10 12 2 4 10 12 2 4 3.55 1.32 AssemblyBiosci ASMB ... dd 1.91 –0.11 ... 53.57 4.98 BridgeBioPharma BBIO ... dd 11.14 –0.67 ... 461.44 343.86 Cintas CTAS 1.1 35 404.33 –27.02 1.15

us ,
75.00 34.90 AstecIndustries ASTE 1.4 cc 35.43 –4.35 .12 15.50 10.26 BridgfordFoods BRID ... 3 14.85 +0.76 ... 15.39 1.26 CipherMining CIFR ... dd 1.60 –0.07 ...
13.58 0.72 AstraSpace ASTR ... dd .75 –0.04 ... 12.46 5.84 Brightcove BCOV ... dd 6.61 –0.24 ... 95.84 67.03 CirrusLogic CRUS ... 13 75.01 –0.42 ...

l
71.70 53.63 AstraZeneca AZN 2.4 dd 58.05 –2.80 .465 62.33 38.38 BrighthouseFin BHF ... 2 47.88 –2.84 ... 64.29 40.82 CiscoSystems CSCO 3.5 15 43.30 –2.47 .38
10.70 2.36 AstriaTherap ATXS ... dd 9.92 +0.04 ... 20.39 3.60 BrilliantEarthA BRLT ... cc 6.86 –0.27 ... 97.46 18.50 CitiTrends CTRN ... 3 18.87 –2.65 ...

e
52-Week Tick Div 52-Week Tick Div 14.96 8.19 Astronics ATRO ... dd 8.38 –0.46 ... 10.63 9.91 BroadCapital BRACU ... ... 10.06 +0.02 ... 16.49 12.20 CtznCmntyBcp CZWI 2.0 7 13.00 +0.10 .26

al a
High Low Name Sym Yld P/E Last Chg. Amt. High Low Name Sym Yld P/E Last Chg. Amt. 18.52 10.97 AstroNova ALOT ... dd 12.45 +0.80 ... 10.13 9.82 BroadCapital BRAC ... dd 9.99 ... ... 21.75 15.30 CitizensHolding CIZN 5.9 11 16.18 –0.88 .24
A 90.69 54.99 Alarm.com ALRM ... 81 66.81 –3.97 ... 20.04 2.83 AtaraBiotherap ATRA ... dd 4.04 –0.78 ... 0.30 0.02 BroadCapitalRt BRACR ... ... .10 ... ... 112.59 78.07 CitrixSystems CTXS 1.4 40 103.53 –0.15 .37
4.01 0.41 AlaunosTherap TCRT ... dd 2.50 –1.19 ... 46.91 5.31 AteaPharm AVIR ... 55 6.71 –1.17 ... 677.76 463.91 Broadcom AVGO 3.3 22 502.50 –19.90 4.10 90.96 71.64 CityHolding CHCO 2.7 15 87.79 +1.33 .60
83.79 47.50 AAON AAON .7 55 57.05 –0.50 .19 27.05 7.50 Alector ALEC ... 24 9.23 –0.40 ... 3.65 0.41 Athenex ATNX ... dd .41 –0.05 ... 17.74 12.24 BrooklineBcp BRKL 4.1 9 12.76 ... .13 31.20 13.77 Clarus CLAR .7 20 14.02 –2.36 .025
28.06 12.24 AcadiaPharm ACAD ... dd 18.02 +0.64 ... 16.65 2.53 AthiraPharma ATHA ... dd 3.42 –0.07 ... 12.50 0.30 BrooklynImmuno BTX ... dd .31 –0.03 ...

ci on
13.65 7.75 AlgomaSteel ASTL 2.4 2 8.27 –1.25 .05 0.49 0.08 CleanEarthRt CLINR ... ... .15 ... ...
36.01 21.51 ACI Worldwide ACIW ... 17 21.88 –0.87 ... 43.65 31.81 Alico ALCO 6.2 8 32.37 –1.10 .50 4.59 2.12 AtlanticAmerican AAME .7 27 2.99 –0.04 .02 87.22 52.27 Bruker BRKR .4 29 52.88 –5.41 .05 9.69 4.02 CleanEnerFuels CLNE ... dd 6.29 –0.53 ...
8.14 2.06 AC Immune ACIU ... dd 2.85 +0.06 ... 737.45 225.86 AlignTech ALGN ... 32 249.02 –14.09 ... 10.02 9.87 AtlCoastal II A ACAB ... dd 9.99 +0.02 ... 10.06 9.80 BullpenParlayA BPAC ... 28 10.01 –0.02 ... 130.01 42.34 Clearfield CLFD ... 32 92.19 –10.28 ...
39.71 11.23 ACM Research ACMR ... 32 15.21 –1.52 ... 23.35 6.14 AlignmentHlthcr ALHC ... dd 12.88 –3.65 ... 42.67 31.44 AtlUnionBkshs AUB 3.6 12 33.33 –0.48 .30 60.50 15.41 Bumble BMBL ... dd 23.56 –3.93 ... 7.30 1.26 ClearsideBiomed CLSD ... dd 1.30 –0.04 ...
22.82 6.10 ACV Auctions ACVA ... dd 8.48 –0.94 ... 17.97 1.03 AligosTherap ALGS ... dd 1.17 –0.15 ... 41.32 28.82 AtlanticaSust AY 5.4 dd 32.45 –0.91 .445 9.90 2.79 BurgerFiIntl BFI ... dd 3.06 +0.03 ... 10.18 9.43 ClimateRockA CLRC ... ... 10.00 ... ...
2.92 1.01 ADMA Biologics ADMA ... dd 2.65 –0.20 ... 7.92 3.94 AlimeraSciences ALIM ... dd 5.58 –1.08 ... 91.98 25.65 Atlanticus ATLC ... 4 30.12 –0.48 ... 20.76 1.74 BurningRockBio BNR ... dd 3.24 –0.35 ... 0.15 0.06 ClimateRockRt CLRCR ... ... .13 –0.03 ...
25.47 16.30 Adtran ADTN 1.9 dd 18.59 –1.45 .09 32.50 9.23 AlkamiTech ALKT ... dd 14.95 –1.24 ... 101.62 58.70 AtlasAir AAWW ... 7 99.41 –0.50 ... 10.02 9.80 BurTechAcqnA BRKH ... ... 9.97 +0.02 ... 8.58 1.95 CloverHealth CLOV ... dd 2.23 –0.39 ...
25.50 14.90 AFC Gamma AFCG13.0 8 16.63 –0.86 .56 33.00 21.24 Alkermes ALKS ... dd 23.37 –0.64 ... 13.57 4.71 AtlasTech ATCX ... dd 7.04 –1.34 ... 29.50 20.19 BusFirstBcshs BFST 2.1 11 23.26 +0.04 .12 4.91 0.58 ClovisOncology CLVS ... dd 1.26 +0.11 ...
16.75 9.99 AGNC Invt AGNC12.8 dd 11.24 –0.67 .12 112.87 2.54 Allakos ALLK ... dd 4.58 –0.33 ... 483.13 159.54 Atlassian TEAM ... dd 242.90 –16.03 ... 14.77 1.47 BuzzFeed BZFD ... dd 1.57 –0.04 ... 54.41 29.10 CoastalFinl CCB ... 18 42.15 +1.13 ...
10.04 9.77 AIBAcqnA AIB ... dd 10.02 ... ... 18.20 1.01 AllarityTherap ALLR ... dd 1.25 +0.08 ... 7.00 1.51 Atreca BCEL ... dd 1.98 +0.08 ... 10.59 9.89 byNordicAcqnA BYNO ... ... 9.97 ... ... 656.11 378.15 CocaColaCon COKE .2 14 432.40 –27.04 .25
0.26 0.07 AIBAcqnRt AIBBR ... ... .10 +0.01 ... 32.44 3.65 Allbirds BIRD ... dd 3.79 –0.36 ... 89.18 32.84 AtriCure ATRC ... 39 44.99 –1.46 ... C 59.86 42.33 Coca-ColaEuro CCEP 4.7 14 47.15 –2.55 .59

er s
10.69 9.47 ALSPOrchidI A ALOR ... dd 10.07 +0.01 ... 46.96 34.71 AllegianceBcshs ABTX 1.3 12 43.88 +1.61 .14 805.62 585.27 Atrion ATRI 1.4 31 596.38 –13.70 2.15 13.55 1.67 CodexDNA DNAY ... dd 1.95 +0.03 ...
81.19 5.82 AlxOncology ALXO ... dd 12.18 –0.90 ... 215.48 90.63 AllegiantTravel ALGT ... 35 91.07 –8.78 ... 37.11 24.05 AuburnNatlBncp AUBN 4.2 12 25.45 –0.05 .265 9.01 1.66 Cadiz CDZI ... dd 3.12 –0.22 ... 42.01 6.15 Codexis CDXS ... dd 6.89 –0.67 ...
51.51 22.70 AMC Networks AMCX ... 3 23.46 –1.84 ... 38.28 19.20 AllegroMicro ALGM ... 42 22.29 –1.26 ... 37.35 19.62 AudioCodes AUDC 1.6 24 22.07 –0.74 .18 54.30 43.10 C&F Fin CFFI 3.1 7 53.75 +2.55 .42 19.99 0.99 CodiakBioSci CDAK ... dd 1.04 –0.75 ...
To reprint or license content, please contact Barron's reprints department at 800-843-0008 or www.djreprints.com

64.90 44.06 Amerisafe AMSF 2.6 20 47.50 –1.33 .31 27.63 8.63 AllianceResource ARLP 6.7 10 23.88 –1.46 .40 26.16 11.98 AuraBiosciences AURA ... dd 14.96 –0.50 ... 26.80 20.49 CB FinSvcs CBFV 4.1 10 23.41 +1.41 .24 24.48 19.43 CodorusValleyBncp CVLY 3.0 15 19.93 –0.33 .15
44.60 24.77 A-MarkPrecMet AMRK 3.1 5 25.40 –3.65 .20 65.37 54.20 AlliantEnergy LNT 2.8 22 60.86 –2.21.4275 10.08 9.83 AuraFatProjectsA AFAR ... ... 10.01 +0.01 ... 33.10 25.45 CBTX CBTX 1.7 21 30.92 +0.92 .13
60.23
413.89
22.31
225.92
ANI Pham
Ansys
ANIP ...
ANSS ...
dd
46
35.80
240.74
–1.29 ...
–18.06 ...
44.70
27.86
21.14
6.43
m er
AlliedMotionTech
AllogeneTherap
AMOT
ALLO
.3
...
30
dd
28.60
13.67
–3.23 .025
–1.40 ...
33.97
8.69
6.28
1.21
AuriniaPharm
AuroraCannabis
AUPH
ACB
...
...
dd
dd
7.30
1.43
+0.04 ...
–0.13 ...
208.71
50.85
152.15
27.12
CDW
CEVA
CDW 1.2
CEVA ...
23
cc
170.83
27.56
–4.74 .50
–1.34 ...
18.07
80.50
92.17
3.79
49.02
40.55
CogentBio
CogentComm
Cognex
COGT ...
CCOI 6.4
CGNX .6
dd
57
29
15.78
53.82
42.30
–0.60 ...
+0.25 .905
–2.88 .065
23.58 6.88 AN2 Therap ANTX ... ... 8.83 –0.62 ... 16.26 3.73 Allot ALLT ... dd 4.06 –0.49 ... 17.77 1.84 AuroraInnov AUR ... dd 2.65 –0.10 ... 10.45 9.80 CFAcqnVII A CFFS ... dd 9.95 –0.03 ... 13.80 1.50 CognitionTherap CGTX ... dd 1.75 –0.10 ...
51.95 18.52 APA APA 2.5 5 40.46 +2.37 .25 26.41 3.17 AlloVir ALVR ... dd 8.16 –0.59 ... 1.94 0.75 AuroraMobile JG ... dd .90 +0.02 ... 51.21 4.84 C4 Therap CCCC ... dd 9.82 –1.41 ... 93.47 60.84 CognizantTech CTSH 1.7 14 62.20 –3.31 .27
22.45 15.31 ARKRestaurants ARKR 2.5 5 19.92 +0.78 .125 23.25 13.05 AllscriptsHlthcr MDRX ... 38 16.29 –0.71 ... 10.03 9.54 AuroraTechA ATAK ... ... 10.02 +0.03 ... 121.23 85.80 CH Robinson CHRW 2.1 12 103.79 –10.50 .55 28.55 3.91 CognyteSoftware CGNT ... dd 5.01 –0.14 ...
888.72 412.67 ASML ASML 1.3 30 467.25 –33.752.0843 236.80 117.58 AlnylamPharm ALNY ... dd 213.00 –10.27 ... 0.25 0.06 AuroraTechRt ATAKR ... ... .07 ... ... 10.98 9.75 CIIGCapPtrsII CIIG ... dd 9.99 +0.04 ... 75.05 40.80 Coherent COHR ... 29 41.75 –2.48 ...
10.40 9.81 A SPAC II ASCB ... ... 9.96 +0.02 ... 69.99 27.10 Alpha&Omega AOSL ... 2 33.80 –1.80 ... 335.48 163.20 Autodesk ADSK ... 77 194.97 –16.71 ... 3.86 1.44 CLPS CLPS ... 4 1.60 –0.01 ... 19.32 5.60 CoherusBioSci CHRS ... dd 9.85 –0.73 ...
0.13 0.05 A SPAC II Rt ASCBR ... ... .08 +0.02 ... 10.08 9.77 AlphaStarAcqn ALSA ... dd 10.04 –0.04 ... 7.90 1.96 AutolusTherap AUTL ... dd 2.50 –0.50 ... 256.94 185.79 CME Group CME 2.1 24 191.56 –9.76 1.00
39.86 24.06 Cohu COHU ... 14 27.33 –0.93 ...
m rp
14.27 4.84 AST Space ASTS ... dd 8.52 –2.24 ... 0.33 0.05 AlphaStarRt ALSAR ... ... .16 +0.08 ... 261.59 192.26 ADP ADP 1.8 33 233.64 –10.66 1.04 28.59 23.00 CNB FinPA CCNE 2.8 7 24.73 –1.27 .175
11.59 1.05 AvadelPharm AVDL ... dd 5.08 –1.11 ... 49.52 6.54 CompassPath CMPS ... dd 13.70 –2.04 ... 368.90 40.83 CoinbaseGlbl COIN ... dd 74.00 –6.87 ...
2.94 0.88 ATA Creativity AACG ... dd 1.81 –0.23 ... 28.49 3.80 AlphaTeknova TKNO ... dd 3.85 –0.64 ... 22.89 14.04 CollegiumPharm COLL ... dd 17.29 –0.05 ...
17.81 2.95 ATAI Life ATAI ... dd 3.86 –0.49 ... 151.55 100.94 Alphabet A GOOGL ... 19 102.80 –7.85 ... 10.50 9.83 AvalonAcqn AVAC ... 24 10.02 –0.03 ... 35.08 10.18 CPI Card PMTS ... 12 19.29 +0.29 ...
9.04 1.66 AveannaHealth AVAH ... dd 1.90 –0.12 ... 116.71 78.35 CRA Intl CRAI 1.5 15 84.17 –3.76 .31 158.42 97.39 ColliersIntl CIGI .3 74 111.23 –6.91 .15
50.45 32.07 ATN Intl ATNI 1.6 dd 42.11 –0.81 .17 152.10 101.86 Alphabet C GOOG ... 19 103.63 –8.15 ... 23.00 6.51 Collplant CLGN ... dd 8.08 +0.11 ...
9.37 3.06 AveoPharma AVEO ... dd 8.16 –0.16 ... 14.54 5.73 Alphatec ATEC ... dd 8.54 +0.20 ... 9.72 3.88 AvePoint AVPT ... dd 4.42 –0.21 ... 124.79 42.51 CRISPR Therap CRSP ... dd 70.53 +3.57 ...
36.63 23.88 AviatNetworks AVNW ... 18 31.55 ... ... 66.58 45.23 CSG Systems CSGS 1.9 39 54.64 –1.92 .265 19.59 13.56 ColonyBankcorp CBAN 3.1 11 13.93 –0.26.1075
6.62 0.74 AVROBIO AVRO ... dd .87 –0.02 ... 14.40 6.00 AlpineImmune ALPN ... dd 8.13 –0.13 ... 40.78 26.97 ColumbiaBanking COLB 4.0 11 30.11 –0.71 .30
9.94 4.97 AXT AXTI ... 22 7.78 –0.87 ... 10.40 9.80 AlsetCapAcqnA ACAX ... ... 9.88 –0.05 ... 37.31 20.83 AvidTechnology AVID ... 23 24.05 –1.39 ... 9.98 6.61 CSP CSPI .0 49 8.43 +0.42 .03
0.30 0.05 AlsetCapAcqnRt ACAXR ... ... .19 +0.07 ... 29.25 10.89 AvidityBio RNA ... dd 20.83 –0.04 ... 145.50 96.03 CSW Industrials CSWI .6 26 123.58 –5.28 .17 22.86 17.47 ColumbiaFin CLBK ... 26 21.78 +0.29 ...
24.00 12.54 Abcam ABCM ... cc 16.68 +1.56 ...
For personal non-commercial use only. Do not edit or alter. Reproductions not permitted.

82.96 46.46 AltairEngg ALTR ... dd 47.06 –4.61 ... 27.44 5.86 AvidXchange AVDX ... dd 8.30 –0.29 ... 38.63 27.60 CSX CSX 1.4 16 29.49 –3.14 .10 107.50 68.29 ColumbiaSportswr COLM 1.7 14 71.00 –3.34 .30
22.63 5.42 AbCelleraBio ABCL ... 16 10.35 –0.85 ... 54.20 26.42 ColumbusMcKinn CMCO 1.0 18 28.74 –2.35 .07
379.30 219.85 Abiomed ABMD ... 55 258.67 –23.61 ... 10.78 3.85 AltEnergyA AEAE ... 12 9.97 –0.01 ... 545.11 92.14 AvisBudget CAR ... 3 147.30 –20.89 ... 28.14 18.72 CVB Fin CVBF 2.9 18 26.18 +0.45 .19
23.49 3.83 Altimmune ALT ... dd 13.67 –6.31 ... 50.19 35.71 Avnet AVT 3.1 5 37.86 –4.84 .29 14.95 0.80 CabalettaBio CABA ... dd .81 –0.13 ... 57.96 33.41 Comcast A CMCSA 3.1 11 34.52 –0.91 .27
18.12 2.93 Absci ABSI ... dd 3.67 –0.47 ... 74.72 61.81 CommerceBcshrs CBSH 1.5 18 69.49 –1.26 .265
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12.41 6.79 AbsoluteSftwr ABST 2.4 dd 10.55 –0.74.0622 14.58 8.68 AltisourcePortf ASPS ... 7 10.88 –0.44 ... 4.25 1.95 Aware AWRE ... dd 2.11 +0.08 ... 10.76 9.81 CactusAcqn1 A CCTS ... dd 10.04 –0.01 ...
62.25 32.18 AltraIndlMotion AIMC 1.0 cc 35.38 –4.44 .09 83.74 45.14 AxcelisTechs ACLS ... 14 61.25 –4.36 ... 194.97 132.32 CadenceDesign CDNS ... 59 164.27 –10.41 ... 10.58 5.23 CommVehicle CVGI ... 11 5.68 –0.51 ...
7.54 3.30 AcaciaResearch ACTG ... 5 4.27 +0.06 ... 14.61 5.56 CommScope COMM ... dd 12.00 –0.51 ...
51.51 25.10 AcademySports ASO .6 7 47.16 –2.40 .075 14.04 5.20 Alvotech ALVO ... cc 7.90 –0.10 ... 4.40 1.35 AxcellaHealth AXLA ... dd 2.41 +0.66 ... 119.81 35.10 CaesarsEnt CZR ... dd 45.08 –3.25 ...
25.03 13.48 AmalgamFin AMAL 1.8 11 22.57 –0.16 .10 209.00 82.49 AxonEnterprise AXON ... 61 118.34 –5.85 ... 13.67 8.20 Caesarstone CSTE10.3 16 9.70 –0.44 .25 46.30 38.20 CmntyTrBcp CTBI 4.2 9 42.05 –0.72 .44
86.75 50.07 AcadiaHealthcare ACHC ... 28 84.17 +0.52 ... 16.55 12.75 CommWestBcshs CWBC 2.0 10 14.95 +0.82 .075
46.27 4.61 Accolade ACCD ... dd 12.51 +1.07 ... 5.52 1.09 Amarin AMRN ... dd 1.25 –0.12 ... 79.92 38.41 Axonics AXNX ... dd 74.71 –2.09 ... 59.95 34.29 Cal-MaineFoods CALM 5.3 21 56.85 –1.08 .749
78.55 50.26 CommVaultSys CVLT ... cc 51.84 –1.19 ...
F

9.94 9.69 AccretionAcqn ENER ... dd 9.89 ... ... 188.11 101.26 Amazon.com AMZN ... cc 123.53 –9.74 ... 71.98 20.63 AxsomeTherap AXSM ... dd 59.20 –2.87 ... 10.75 3.90 CalAmp CAMP ... dd 5.05 +0.19 ...
227.59 60.50 Ambarella AMBA ... dd 64.93 –6.20 ... 14.50 0.70 AyalaPharm AYLA ... dd 1.39 –0.50 ... 45.50 28.76 CalavoGrowers CVGW 3.3 dd 34.91 –2.41 1.15 9.78 9.59 CompassDigitalAcqn CDAQ ... 67 9.73 +0.03 ...
0.37 0.06 AccretionAcqnRt ENERR ... ... .08 ... ... 10.69 4.72 CompoSecure CMPO ... 3 4.99 –0.78 ...
5.93 1.70 Accuray ARAY ... dd 2.19 –0.19 ... 90.77 68.33 Amdocs DOX 1.9 19 81.80 –3.56 .395 124.79 48.51 Azenta AZTA .8 dd 50.34 –3.32 .10 24.00 16.98 CaliforniaBncp CALB ... 12 21.00 +0.51 ...
188.88 101.61 Amedisys AMED ... 28 120.39 –2.44 ... 48.40 2.30 CalitheraBiosci CALA ... dd 3.53 –0.10 ... 7.48 0.99 Compugen CGEN ... dd 1.00 –0.04 ...
1.08 0.16 AcelRxPharm ACRX ... 1 .28 ... ... B 37.62 26.11 ComputerPrograms CPSI ... 22 29.00 –0.92 ...
9.00 1.84 AchillesTherap ACHL ... dd 2.89 –0.03 ... 36.72 23.31 AmerantBncpA AMTB 1.4 9 26.22 –0.45 .09 27.50 12.55 CalliditasTherap CALT ... dd 15.83 –0.82 ...
769.90 447.92 Amerco UHAL .0 9 515.24 –31.49 .50 17.40 9.95 BBQ Holdings BBQ ... 15 17.24 +0.05 ... 18.47 7.07 CalumetSpecialty CLMT ... dd 16.57 –1.03 ... 10.38 7.12 ComputerTask CTG ... 7 7.12 –0.10 ...
19.97 9.26 AclarisTherap ACRS ... dd 13.47 –2.78 ... 4.08 1.52 comScore SCOR ... dd 2.11 –0.07 ...
4.99 0.28 AcordaTherap ACOR ... dd .34 –0.07 ... 21.00 16.53 AmerFirstMultifam ATAX 7.7 7 19.16 +0.08 .20 20.71 14.20 BCB Bancorp BCBP 3.5 8 18.08 –0.05 .16 4.08 0.20 Calyxt CLXT ... dd .26 +0.01 ...
22.35 11.93 AmerAirlines AAL ... dd 13.75 –0.44 ... 12.69 4.98 BELLUS Health BLU ... dd 10.60 –1.04 ... 38.53 12.40 CambiumNtwks CMBM ... 74 17.52 –1.00 ... 27.70 8.42 ComtechTel CMTL 3.4 dd 11.92 –0.27 .10
86.90 56.40 ActivisionBliz ATVI .6 32 76.02 –2.49 .47 208.48 117.59 Concentrix CNXC .8 14 118.47 –9.95 .25
17.71 3.02 AcumenPharm ABOS ... dd 5.49 –1.25 ... 105.60 80.22 AEP AEP 3.1 20 100.36 –4.35 .78 5.64 3.00 BGC Partners BGCP 1.0 15 4.10 –0.11 .01 52.16 41.48 CamdenNational CAC 3.5 11 45.20 –0.34 .40
40.34 31.02 AmNtlBcsh AMNB 3.3 10 34.19 +0.63 .28 47.20 20.15 BJsRestaurants BJRI ... dd 28.31 +1.23 ... 49.60 22.89 Camtek CAMT ... 17 25.10 –1.58 ... 7.37 2.57 ConcertPharm CNCE ... dd 6.37 –0.21 ...
10.94 0.48 AcutusMedical AFIB ... dd 1.17 +0.10 ... 7.21 3.70 Conduent CNDT ... 9 3.73 –0.35 ...
15.22 1.22 Adagene ADAG ... ... 1.40 –0.18 ... 26.13 7.10 AmOutdoorBrands AOUT ... dd 9.51 +1.05 ... 120.20 70.21 BOK Fin BOKF 2.3 13 91.64 +0.36 .53 11.19 2.56 Canaan CAN ... 1 3.20 –0.18 ...
26.94 8.03 AmericanPubEdu APEI ... dd 8.15 –0.55 ... 45.36 17.08 BRP Group BRP ... dd 29.68 –2.78 ... 47.69 22.15 CanadianSolar CSIQ ... 19 40.14 –2.88 ... 94.97 16.48 Confluent CFLT ... dd 25.22 –2.14 ...
5.95 1.26 AdaptimmuneTher ADAP ... dd 1.53 –0.39 ... 3.22 1.28 Conifer CNFR ... dd 1.63 –0.23 ...
39.79 5.96 AdaptiveBiotech ADPT ... dd 7.63 –1.28 ... 33.27 15.02 AmerSoftware AMSWA 2.9 44 15.33 –1.00 .11 99.05 57.38 BRP DOOO .7 10 68.38 –2.70.1217 11.98 2.81 CandelTherap CADL ... dd 3.25 –0.83 ...
19.36 4.23 AmerSupercond AMSC ... dd 5.20 +0.28 ... 91.24 41.20 B RileyFin RILY 8.5 dd 47.24 –3.72 1.00 10.10 9.78 Canna-GlobalA CNGL ... dd 10.09 +0.01 ... 25.25 0.56 ConnectBiopharma CNTB ... dd 1.44 +0.04 ...
108.11 68.57 AddusHomeCare ADUS ... 33 92.32 –1.24 ... 37.00 23.18 ConnectOneBncp CNOB 2.5 8 25.12 –0.11 .155
21.17 6.75 AdicetBio ACET ... dd 15.76 –0.63 ... 76.36 40.70 AmericanWoodmark AMWD ... dd 48.42 –4.31 ... 11.48 3.95 BTRS BTRS ... dd 6.49 –0.55 ... 13.35 1.75 Canoo GOEV ... dd 2.51 –0.20 ...
129.50 68.29 AmerCarMart CRMT ... 6 69.43 –8.66 ... 36.50 4.81 Backblaze BLZE ... dd 5.24 –1.14 ... 15.96 2.13 CanopyGrowth CGC ... dd 3.17 –0.48 ... 26.92 7.67 Conn's CONN ... 7 8.19 –0.47 ...
699.54 292.14 Adobe ADBE ... 29 299.50 –95.28 ... 69.31 34.81 ConsensusCloud CCSI ... 11 50.51 +2.18 ...
8.00 3.28 AdvEmissions ADES ... 2 3.37 –0.22 ... 56.64 38.22 AmerisBancorp ABCB 1.3 10 47.90 +0.58 .15 182.60 101.62 Baidu BIDU ... dd 123.69 –14.74 ... 13.25 4.13 Cantaloupe CTLP ... dd 4.22 –0.86 ...
4.52 3.68 AmeriServFin ASRV 3.1 8 3.81 –0.07 .03 39.78 22.30 BakerHughes BKR 3.0 dd 23.80 –1.45 .18 32.92 15.14 CanterburyPark CPHC 1.2 9 23.93 +1.93 .07 10.50 9.69 Consilium I A CSLM ... dd 9.90 –0.02 ...
98.07 67.55 AdvEnergyInds AEIS .5 22 84.33 –4.30 .10 9.70 4.51 ConsldComm CNSL ... dd 5.64 –0.25 ...
164.46 71.60 AdvMicroDevices AMD ... 32 76.51 –8.94 ... 258.45 198.64 Amgen AMGN 3.4 20 231.14 –16.55 1.94 174.29 110.15 Balchem BCPC .5 37 123.22 –10.20 .64 28.16 20.94 CapitalBancorp CBNK .9 8 23.39 –1.71 .06
12.96 5.91 AmicusTherap FOLD ... dd 10.62 –0.80 ... 19.66 5.75 BallardPower BLDP ... dd 7.28 –0.80 ... 33.92 22.02 CapitalCityBank CCBG 2.1 17 32.90 +0.87 .17 20.58 9.01 ConsldWater CWCO 2.0 48 17.41 –0.42 .085
9.49 2.43 AdvantageSolns ADV ... 11 2.46 –0.58 ... 88.66 38.00 ConstellationEner CEG .7 dd 85.57 –1.94 .141
n-

2.52 0.80 AdverumBiotech ADVM ... dd 1.11 –0.03 ... 29.15 14.89 AmkorTech AMKR 1.1 6 18.11 –1.49 .05 118.07 54.64 BancFirst BANF 1.6 21 97.25 –1.63 .40 19.65 12.04 CapitalProduct CPLP 4.0 3 15.09 –0.41 .15
44.46 17.75 AmphastarPharm AMPH ... 16 29.23 +1.06 ... 106.68 14.25 Bandwidth BAND ... dd 14.95 –1.35 ... 28.41 17.60 CapitalSouthwest CSWC10.8 15 17.91 –1.22 .50 44.99 18.89 ConstructionPtrs ROAD ... 92 28.66 –1.69 ...
8.50 0.37 AegleaBioTherap AGLE ... dd .49 ... ... 15.47 5.41 ConsumerPtfo CPSS ... 4 10.87 –0.64 ...
23.33 4.45 Aemetis AMTX ... dd 7.77 –1.59 ... 12.45 5.61 AmrytPharma AMYT ... dd 7.65 –0.17 ... 51.39 34.79 BankOZK OZK 3.1 10 41.50 –0.68 .32 10.50 9.80 CapitalworksEMA CMCA ... ... 10.07 ... ...
15.78 6.66 AmtechSystems ASYS ... 10 10.19 –0.98 ... 32.05 26.57 BankofPrinceton BPRN 3.6 8 28.15 –0.65 .25 12.79 8.72 CapitolFedFin CFFN 3.8 15 9.01 –0.18 .085 6.64 0.98 ContextLogic WISH ... dd .99 –0.30 ...
15.37 4.81 AeriePharm AERI ... dd 15.14 +0.02 ... 161.12 102.21 Copart CPRT ... 24 110.10 –6.01 ...
27.83 7.74 AerovateTherap AVTE ... dd 15.73 –1.74 ... 33.41 6.51 AmylyxPharm AMLX ... dd 29.38 –0.50 ... 27.28 19.51 Bank7 BSVN 2.1 8 22.48 –1.98 .12 22.74 18.63 CapStarFin CSTR 2.0 10 19.85 –0.16 .10
15.12 1.47 Amyris AMRS ... dd 3.54 –0.22 ... 11.81 9.18 BankFinancial BFIN 4.1 17 9.73 –0.31 .10 18.93 7.40 CaraTherap CARA ... dd 10.20 –0.76 ... 14.98 1.40 CoreScientific CORZ ... dd 1.80 –0.46 ...
114.11 52.03 AeroVironment AVAV ... cc 92.13 –7.94 ... 8.03 2.65 CorMedix CRMD ... dd 3.38 –0.34 ...
10.60 9.95 AestherHlthcrA AEHA ... dd 10.17 –0.02 ... 191.95 138.50 AnalogDevices ADI 2.0 41 149.31 –4.87 .76 36.87 28.25 BankwellFin BWFG 2.6 7 31.18 –0.95 .20 36.97 12.77 CardiovascularSys CSII ... dd 14.13 ... ...
37.89 18.20 AnaptysBio ANAB ... dd 25.27 –0.41 ... 66.79 50.02 Banner BANR 2.9 11 61.51 +0.45 .44 97.34 11.25 Cardlytics CDLX ... dd 11.69 –1.07 ... 29.80 12.23 CorsairGaming CRSR ... dd 13.87 –1.01 ...
4.64 1.17 AestheticMed AIH ... ... 1.70 –0.16 ... 213.38 129.19 Corvel CRVL ... 41 151.49 –6.74 ...
23.73 7.13 AnavexLifeSci AVXL ... dd 9.25 –1.05 ... 20.73 5.41 Baozun BZUN ... dd 6.84 –0.85 ... 8.61 2.92 Carecloud MTBC ... dd 5.15 +0.41 ...
no

7.35 2.17 Affimed AFMD ... dd 2.23 –0.51 ... 9.54 0.75 CorvusPharm CRVS ... dd .92 –0.08 ...
176.65 13.64 AffirmHldgs AFRM ... dd 22.30 –3.95 ... 59.00 28.16 Andersons ANDE 2.2 9 32.46 –3.09 .18 86.82 57.76 BarrettBus BBSI 1.5 14 80.20 –2.50 .30 75.92 16.77 CareDx CDNA ... dd 17.06 –2.13 ...
33.13 2.48 Anghami ANGH ... dd 2.60 –0.23 ... 24.12 13.16 BassettFurniture BSET 3.2 23 18.05 –1.05 .16 10.28 3.45 CareMax CMAX ... dd 6.99 +0.21 ... 101.05 49.00 CoStar CSGP ... 84 70.45 –7.97 ...
22.16 8.73 Afya AFYA ... 20 13.97 –0.06 ... 612.27 406.51 Costco COST .7 40 504.14 –32.44 .90
55.75 31.49 Agilysys AGYS ... cc 49.68 –0.05 ... 14.92 3.14 Angi ANGI ... dd 3.20 –0.71 ... 23.54 17.60 BayCom BCML 1.1 10 18.66 –0.34 .05 50.03 15.91 CarGurus CARG ... dd 16.23 –2.88 ...
32.00 17.56 AngioDynamics ANGO ... dd 21.87 –0.75 ... 65.30 45.71 BeaconRoof BECN ... 11 54.47 –2.06 ... 27.95 4.89 CaribouBio CRBU ... dd 11.37 –0.10 ... 47.38 11.68 Couchbase BASE ... dd 14.55 –1.05 ...
50.98 16.75 AgiosPharm AGIO ... dd 30.84 –3.30 ... 10.08 9.91 CounterPressA CPAQ ... dd 10.05 –0.03 ...
29.71 3.71 Agora API ... dd 4.01 –0.50 ... 11.36 0.98 AngionBiomed ANGN ... dd 1.06 –0.06 ... 103.73 27.77 BeamTherap BEAM ... dd 56.12 –1.39 ... 4.75 0.38 CarLotz LOTZ ... dd .38 –0.02 ...
45.81 19.95 AnikaTherap ANIK ... dd 23.38 +0.43 ... 2.88 1.07 BeasleyBroadcast BBGI ... dd 1.13 –0.11 ... 60.62 30.01 Carlyle CG 4.2 6 30.89 –2.18 .325 259.90 50.54 CoupaSoftware COUP ... dd 67.58 –2.61 ...
2.33 1.47 AgroFresh AGFS ... dd 1.47 –0.24 ... 34.80 17.23 CovenantLogist CVLG 1.0 6 27.93 –1.20 .08
10.05 9.76 AhrenAcqnA AHRN ... 45 10.00 –0.02 ... 23.61 2.06 Annexon ANNX ... dd 6.36 –0.09 ... 30.06 4.38 BedBath BBBY ... dd 8.02 –0.91 ... 14.96 12.14 CarlyleSecured CGBD 9.8 7 13.85 –0.36 .06
40.50 14.01 AirT AIRT ... 5 15.86 –1.87 ... 10.06 6.97 AnthemisDigA ADAL ... cc 10.06 +0.01 ... 426.56 118.18 BeiGene BGNE ... dd 157.09 –13.62 ... 17.46 5.56 CarParts.com PRTS ... dd 5.69 –1.03 ... 21.20 13.39 Covetrus CVET ... dd 20.89 –0.01 ...
34.54 23.68 AirTransport ATSG ... 10 25.68 –2.58 ... 70.00 30.17 ApellisPharm APLS ... dd 62.56 –5.01 ... 32.46 13.14 BelFuse A BELFA .8 11 28.52 –0.83 .06 4.43 1.28 CarrolsRestr TAST ... dd 1.82 –0.25 ... 39.93 21.36 Cowen COWN 1.2 8 38.54 ... .12
212.58 86.71 Airbnb ABNB ... 65 118.75 –4.73 ... 50.45 33.88 ApogeeEnt APOG 2.2 58 39.47 –1.72 .22 29.61 11.58 BelFuse B BELFB 1.1 9 25.58 –0.59 .07 17.99 12.58 CarterBkshrs CARE ... 12 16.98 –0.07 ... 149.88 81.87 CrackerBarrel CBRL 4.8 19 109.15 –2.79 1.30
18.48 5.79 AirSculptTech AIRS .0 dd 8.08 –1.17 .41 10.39 3.49 ApolloEnd APEN ... dd 5.80 –0.17 ... 13.06 6.24 Benefitfocus BNFT ... dd 6.65 –0.32 ... 11.20 9.90 CartesianGrwIIA RENE ... ... 10.00 –0.07 ... 9.39 6.15 CreativeMedia CMCT 4.9 dd 6.92 –0.03 .085
123.25 85.90 AkamaiTech AKAM ... 25 87.16 –4.53 ... 139.99 79.92 AppFolio APPF ... dd 102.36 +1.68 ... 70.18 26.32 BentleySystems BSY .4 cc 33.65 –4.82 .03 10.14 9.80 CarticaAcqnA CITE ... ... 10.10 ... ... 703.27 452.48 CreditAcceptance CACC ... 9 487.20 –28.02 ...
3.35 0.30 AkebiaTherap AKBA ... dd .39 –0.05 ... 8.10 2.11 AppHarvest APPH ... dd 2.14 –0.60 ... 27.48 3.33 BerkeleyLights BLI ... dd 3.49 –0.47 ... 7.18 3.34 CasaSystems CASA ... dd 3.52 –0.25 ... 18.00 8.61 CredoTech CRDO ... dd 11.74 –0.90 ...
29.78 7.52 AkeroTherap AKRO ... dd 26.02 +14.31 ... 107.50 38.78 Appian APPN ... dd 47.44 +0.19 ... 8.10 1.40 BerkshireGrey BGRY ... dd 2.01 –0.26 ... 9.95 9.63 CascadiaAcqnA CCAI ... 29 9.81 ... ... 21.48 15.06 CrescentCapBDC CCAP 9.2 12 17.75 –0.03 .41
13.69 2.32 Akouos AKUS ... dd 5.16 +1.87 ... 182.94 129.04 Apple AAPL .6 25 150.70 –6.67 .23 1.62 0.18 BerkshireGreyWt BGRYW ... ... .26 –0.01 ... 92.75 63.90 CasellaWaste CWST ... 89 81.20 –2.69 ... 10.06 9.79 CresceraCapA CREC ... 23 10.03 +0.03 ...
21.21 8.02 Akoya AKYA ... dd 11.95 –1.30 ... 34.20 0.85 AppliedBlockchn APLD ... dd 2.15 –0.11 ... 12.85 5.68 Berry(bry) BRY 2.9 cc 8.36 –0.71 .56 223.90 170.82 CaseysGenStores CASY .7 22 214.90 –6.23 .38 9.80 4.18 Cresud CRESY ... 2 5.77 –0.90 ...
22.39 0.75 AksoHealth AHG ... ... 1.00 +0.04 ... 3.48 0.35 AppliedGenetic AGTC ... dd .39 –0.04 ... 115.48 18.18 BeyondMeat BYND ... dd 18.29 –4.26 ... 46.26 31.85 CassInfoSys CASS 3.1 16 35.74 –0.86 .28 36.36 5.88 Cricut CRCT ... 25 8.88 +0.87 ...
167.06 82.67 ApplMaterials AMAT 1.2 12 88.87 –7.64 .26 62.08 12.08 BicycleTherap BCYC ... dd 24.52 –0.57 ... 78.47 15.58 CastleBiosci CSTL ... dd 27.15 –2.18 ... 28.95 15.91 CrineticsPharm CRNX ... dd 20.59 –0.44 ...
28.86 1.25 AppliedMolecular AMTI ... dd 1.25 –0.09 ... 47.65 10.39 Big5SportingGds BGFV 8.5 4 11.70 –0.70 .25 48.88 37.37 CathayGenBncp CATY 3.3 10 41.80 –0.35 .34 43.49 20.56 Criteo CRTO ... 22 28.12 –1.23 ...
8.86 1.48 AppliedOptoelec AAOI ... dd 3.76 +1.26 ... 64.14 12.71 BigCommerce BIGC ... dd 16.28 –0.71 ... 327.24 179.47 CavcoIndustries CVCO ... 8 210.20 –17.09 ... 10.40 9.71 CrixusBH3 A BHAC ... 16 9.88 –0.04 ...
Nasdaq Issues includes stocks traded on the Nasdaq 19.14 0.73 AppliedTherap APLT ... dd 1.35 –0.11 ... 89.80 14.93 Bilibili BILI ... dd 17.06 –2.26 ... 10.80 4.09 CECO Env CECE ... 45 9.21 –0.59 ... 183.88 46.08 Crocs CROX ... 9 76.15 –4.47 ...
Global Select and Nasdaq Global Market tiers. They are 116.09 22.64 Applovin APP ... dd 23.15 –4.58 ... 543.85 301.45 Bio-Techne TECH .4 46 307.59 –39.19 .32 12.49 4.10 CellebriteDI CLBT ... 6 4.37 –0.20 ... 6.79 2.57 Cronos CRON ... dd 3.05 –0.13 ...
eligible for inclusion on the basis of SEC-approved 5.67 0.62 ApreaTherap APRE ... dd .85 +0.13 ... 37.10 2.01 BioAtla BCAB ... dd 8.38 –0.47 ... 14.49 2.30 Cellectis CLLS ... dd 3.18 –0.18 ... 30.51 15.26 CrossCtyHlthcr CCRN ... 5 29.62 +2.96 ...
market value of publicly-held shares, trading volume, 3.76 0.33 Aptinyx APTX ... dd .48 +0.02 ... 16.43 9.27 BioceresCrop BIOX ... dd 14.21 +0.02 ... 5.32 1.51 CelyadOncology CYAD ... dd 1.80 –0.04 ... 16.50 11.81 CrossFirstBkshs CFB ... 9 13.15 ... ...
price and number of market-makers. 2.82 0.86 Aptorum APM ... dd 1.42 –0.02 ... 19.99 7.61 BioCryst BCRX ... dd 13.15 –0.30 ... 21.07 2.89 CentessaPharm CNTA ... dd 4.31 +0.27 ... 298.48 130.00 CrowdStrike CRWD ... dd 171.01 –19.85 ...
 September 19, 2022 BARRON’S 47

D ATA NASDAQ ISSUES B A R R ON S .C OM / D ATA

52-Week Tick Div 52-Week Tick Div 52-Week Tick Div 52-Week Tick Div 52-Week Tick Div
High Low Name Sym Yld P/E Last Chg. Amt. High Low Name Sym Yld P/E Last Chg. Amt. High Low Name Sym Yld P/E Last Chg. Amt. High Low Name Sym Yld P/E Last Chg. Amt. High Low Name Sym Yld P/E Last Chg. Amt.
11.15 9.49 Crypto1Acqn DAOOU ... ... 10.08 +0.02 ... 7.12 1.66 Equillium EQ ... dd 2.26 –0.02 ... 35.15 21.93 FrontierComms FYBR ... 12 24.26 –2.36 ... 10.82 9.82 HealthcareAI A HAIA ... 14 10.04 +0.01 ... 46.67 38.00 IntlBcshs IBOC 2.8 12 42.80 +0.81 .60
10.40 9.75 Crypto1AcqnA DAOO ... dd 10.01 +0.01 ... 873.77 606.12 Equinix EQIX 2.0 89 624.75 –33.14 3.10 17.50 8.19 Frontier ULCC ... dd 11.88 –1.03 ... 27.11 13.29 HealthcareSvcs HCSG 5.8 35 14.09 +0.19.2138 5.98 3.93 Intevac IVAC ... dd 4.82 +0.05 ...
22.55 2.75 CueHealth HLTH ... dd 3.27 –0.45 ... 36.00 28.06 EquityBcshs EQBK 1.1 9 29.74 –0.52 .08 11.63 2.87 FuelCell FCEL ... dd 4.02 –0.22 ... 73.29 36.81 HealthEquity HQY ... dd 71.36 +4.42 ... 66.00 33.90 Intra-Cellular ITCI ... dd 48.20 –3.80 ...
28.87 7.30 CullinanOncology CGEM ... 5 12.49 –1.07 ... 22.94 4.51 Erasca ERAS ... dd 8.12 –0.38 ... 33.10 3.21 FulcrumTherap FULC ... dd 8.84 +0.53 ... 29.76 18.51 HealthStream HSTM ... 95 21.69 –0.78 ... 716.86 339.36 Intuit INTU .7 58 423.00 –27.03 .78
7.51 1.89 CumberlandPharm CPIX ... dd 2.63 +0.38 ... 234.96 158.46 ErieIndemnity A ERIE 2.0 39 219.66 –3.33 1.11 109.55 40.70 FulgentGenetics FLGT ... 3 41.84 –2.44 ... 17.88 12.78 HeartlandExp HTLD .6 8 14.12 –0.63 .02 369.69 186.83 IntuitiveSurgical ISRG ... 53 206.28 –15.04 ...
15.67 6.46 CumulusMedia CMLS ... 3 8.90 –0.99 ... 6.50 0.78 ErytechPharma ERYP ... dd .78 –0.09 ... 19.17 13.72 FultonFin FULT 3.7 10 16.40 +0.02 .15 54.00 39.27 HeartlandFinUSA HTLF 2.4 10 44.56 +0.03 .27 15.78 3.80 Inventiva IVA ... dd 4.00 –0.01 ...
58.36 9.35 CureVac CVAC ... dd 9.57 –0.11 ... 20.60 10.38 Escalade ESCA 5.8 6 10.42 –0.60 .15 27.79 15.28 Funko FNKO ... 21 22.55 –1.03 ... 50.03 26.29 Heidrick&Strug HSII 2.3 7 26.66 –0.82 .15 23.72 17.08 Investar ISTR 1.8 13 20.05 –0.90 .09
8.50 0.70 Curis CRIS ... dd .88 –0.07 ... 13.14 3.28 EsperionTherap ESPR ... dd 7.01 –0.36 ... 13.98 4.48 FusionFuelGreen HTOO ... ... 6.71 –0.68 ... 256.26 109.32 HelenofTroy HELE ... 14 112.16 –9.58 ... 5.89 3.70 InvestcpCredit ICMB12.6 26 4.76 +0.31 .15
74.38 31.62 Cutera CUTR ... dd 48.89 –0.94 ... 6.72 2.13 EtonPharm ETON ... dd 2.17 –0.10 ... 9.13 1.99 FusionPharm FUSN ... dd 3.00 +0.40 ... 14.00 4.14 HelloGroup MOMO .0 dd 4.58 –0.71 .62 11.02 9.85 InvestcorpEur I A IVCB ... ... 10.10 +0.02 ...
10.96 3.30 Cvent CVT ... dd 5.50 ... ... 307.75 67.01 Etsy ETSY ... 38 108.03 –2.39 ... 97.80 21.23 Futu FUTU ... 21 41.00 –5.42 ... 11.69 9.00 HennessyAdvsrs HNNA 6.1 10 9.00 –0.21.1375 10.13 9.95 InvestcorpIndiaA IVCA ... ... 10.05 –0.04 ...
19.49 4.60 CVRx CVRX ... dd 7.63 –0.76 ... 149.92 83.25 EuronetWorldwide EEFT ... 34 85.67 –6.00 ... 10.50 9.95 FutureTechIIA FTII ... ... 10.03 –0.01 ... 11.03 9.56 HennessyCapVI HCVI ... 35 9.70 ... ... 248.00 133.52 InvestorsTitle ITIC 1.3 7 146.64 +2.04 .46
201.68 100.35 CyberArkSoftware CYBR ... dd 151.19 –2.31 ... 34.67 16.30 EuropeanWax EWCZ .0 cc 17.54 –3.20 3.30 G 92.68 70.25 HenrySchein HSIC ... 16 71.70 –2.60 ... 78.82 2.41 Invivyd IVVD ... dd 3.84 –0.76 ...
53.64 30.98 CyberOptics CYBE ... 25 53.45 +0.05 ... 12.74 1.42 EveloBiosci EVLO ... dd 2.11 –0.09 ... 12.94 10.42 HeritageCommerce HTBK 4.5 13 11.50 –0.07 .13 48.82 25.04 IonisPharma IONS ... dd 46.33 –0.51 ...
3.62 0.46 CyclerionTherap CYCN ... dd .99 +0.04 ... 3.58 1.04 Ever-Glory EVK ... 97 1.04 –0.03 ... 12.38 6.26 GCM Grosvenor GCMG 4.8 17 8.30 +0.16 .10 36.29 24.00 HeritageCrystal HCCI ... 10 30.97 –1.26 ... 27.96 6.18 IovanceBiotherap IOVA ... dd 10.84 –0.36 ...
4.74 1.67 CymaBayTherap CBAY ... dd 3.95 +0.26 ... 164.49 24.10 Everbridge EVBG ... dd 36.06 –3.42 ... 65.84 19.83 GDS Holdings GDS ... dd 21.63 –1.68 ... 27.90 20.95 HeritageFin HFWA 3.1 12 27.27 +0.27 .21 10.37 1.86 iQIYI IQ ... dd 3.13 –0.23 ...
21.69 1.56 CyteirTherap CYT ... dd 2.02 –0.08 ... 21.69 7.73 EverCommerce EVCM ... dd 11.47 –0.84 ... 30.43 8.72 GH Research GHRS ... dd 12.96 –0.96 ... 46.00 15.00 HertzGlobal HTZ ... 11 18.55 –0.60 ... 169.54 56.49 iRhythmTechs IRTC ... dd 150.01 –9.24 ...
27.93 7.38 CytekBiosci CTKB ... dd 13.29 –0.81 ... 10.08 9.93 EvergreenA EVGR ... ... 10.07 ... ... 17.49 3.84 G1Therapeutics GTHX ... dd 15.21 –1.42 ... 101.65 39.58 Hibbett HIBB 1.7 8 58.81 –5.83 .25 9.46 2.34 Iridex IRIX ... dd 2.45 –0.11 ...
55.80 29.26 Cytokinetics CYTK ... dd 53.35 –1.17 ... 21.86 7.34 EverQuote EVER ... dd 7.92 –0.87 ... 116.00 41.20 GRAVITY GRVY ... 7 53.56 +3.74 ... 38.21 8.48 HighPeakEner HPK .4 25 24.09 –2.37 .025 47.32 31.73 IridiumComm IRDM ... ... 44.99 –0.14 ...
7.53 1.19 CytomXTherap CTMX ... dd 1.58 –0.02 ... 14.36 4.71 EverspinTech MRAM ... 16 6.40 –0.58 ... 6.21 2.80 GSI Tech GSIT ... dd 2.88 –0.06 ... 24.42 7.90 HilleVax HLVX ... dd 21.75 +2.71 ... 28.25 2.89 IrisEnergy IREN ... ... 5.06 +0.45 ...

.
15.42 4.82 CyxteraTech CYXT ... dd 5.04 –0.48 ... 19.59 5.28 EVgo EVGO ... dd 9.05 –0.42 ... 10.00 9.78 GSRIIMeteoraA GSRM ... ... 9.95 +0.01 ... 12.57 7.80 HillmanSolns HLMN ... dd 8.08 –0.36 ... 98.86 35.41 iRobot IRBT ... dd 57.82 –1.01 ...
D 3.07 0.68 Evogene EVGN ... dd .96 –0.05 ... 2.95 0.35 GSRIIMeteoraRt GSRMR ... ... 1.59 –0.20 ... 16.50 5.42 HimaxTechs HIMX22.3 2 5.57 –0.21 1.25 14.21 10.13 IronwoodPharm IRWD ... 11 10.71 –0.29 ...

ly
14.34 5.06 Evolus EOLS ... dd 9.91 –0.45 ... 11.06 3.00 Gaia GAIA ... 21 3.08 –0.47 ... 432.19 270.00 HinghamSvg HIFS .8 14 283.06 –4.84 .59 16.95 1.62 IsoPlexis ISO ... dd 1.83 –0.35 ...
5.60 1.15 DBV Tech DBVT ... dd 2.20 –0.06 ... 26.57 10.07 Evotec EVO ... cc 10.17 –1.32 ... 9.70 2.33 GainTherap GANX ... dd 3.79 –0.09 ... 21.16 11.05 HollysysAuto HOLI .0 14 18.85 –0.91 .32 52.43 16.21 iTeosTherap ITOS ... 2 20.11 –1.95 ...
40.50 12.64 DiceTherap DICE ... dd 19.98 –2.67 ... 14.90 4.15 Exagen XGN ... dd 4.73 +0.34 ... 72.11 46.41 Galapagos GLPG ... dd 48.11 –0.05 ... 80.49 66.36 Hologic HOLX ... 11 66.82 –2.34 ... 81.36 43.18 Itron ITRI ... dd 48.55 –2.19 ...
3.42 0.45 DIRTT Envl DRTT ... dd .45 –0.25 ... 10.50 9.67 ExcelFinAcqnA XFIN ... dd 9.96 ... ... 4.29 1.17 Galecto GLTO ... dd 2.31 –0.29 ... 45.73 33.16 HomeBancorp HBCP 2.4 8 38.05 +0.15 .23 29.85 19.73 IturanLocation ITRN 2.4 14 23.15 –1.44 .14
46.31 16.20 DISH Network DISH ... 5 17.29 –2.04 ... 23.40 15.50 Exelixis EXEL ... 20 17.15 –0.75 ... 8.51 1.12 GaleraTherap GRTX ... dd 1.74 –0.28 ... 10.30 9.65 HomePlateAcqn HPLT ... 24 9.79 ... ... J
47.46 15.87 DMC Global BOOM ... dd 19.26 –0.51 ... 50.71 33.87 Exelon EXC 3.1 16 43.21 –2.63.3375 16.97 6.90 Gambling.com GAMB ... 26 7.43 –0.39 ... 5.85 2.00 HomePtCap HMPT 7.0 6 2.30 +0.11 .04
7.10 0.59 D-MarketElec HEPS ... dd 1.08 +0.03 ... 179.81 112.14 ExlService EXLS ... 46 173.41 –3.59 ... 12.73 9.80 Games&EsportsA GEEX ... 16 10.12 ... ... 57.40 33.37 HomeStreet HMST 4.1 7 34.44 –1.27 .35 27.87 7.50 JakksPacific JAKK ... 4 23.37 –3.27 ...
10.15 9.73 DPCapAcqnIA DPCS ... dd 10.05 +0.01 ... 4.72 1.48 GamidaCell GMDA ... dd 2.42 –0.23 ... 165.78 117.45 J&JSnackFoods JJSF 2.0 54 138.52 –7.49 .70

on
55.43 11.06 eXpWorld EXPI 1.5 33 12.09 –1.51 .045 32.60 22.30 HomeTrustBcshs HTBI 1.5 11 23.49 +0.84 .09
10.45 9.78 DuetAcqnA DUET ... ... 9.94 +0.02 ... 217.72 88.70 Expedia EXPE ... 51 101.89 –7.28 ... 52.87 41.81 Gaming&Leisure GLPI 5.8 22 48.69 –1.29 .705 8.90 1.30 HomologyMed FIXX ... dd 1.84 –0.31 ... 92.69 41.56 JD.com JD .0 dd 55.37 –5.04 1.26
36.26 22.09 DXP Ents DXPE ... 15 26.44 –0.15 ... 137.80 90.08 ExpeditorsIntl EXPD 1.4 10 92.81 –10.63 .67 10.00 9.77 GardinerHlthcr GDNR ... cc 9.98 ... ... 11.65 2.54 Honest HNST ... dd 3.91 –0.31 ... 13.55 6.23 Joann JOAN 5.5 dd 8.02 –0.60 .11
24.83 5.00 DadaNexus DADA ... dd 5.33 –0.84 ... 51.06 13.58 Expensify EXFY ... dd 16.07 –1.41 ... 8.59 5.61 GarrettMotion GTX ... 4 6.44 –0.44 ... 228.26 167.35 Honeywell HON 2.2 24 177.35 –14.34 .98 59.10 23.14 Joyy YY 7.5 39 27.24 –2.01.5075
6.00 2.82 Daktronics DAKT ... dd 2.89 –0.16 ... 127.61 80.97 Exponent EXPO 1.1 48 89.94 –4.44 .24 4.80 1.16 GeminiTherap GMTX ... dd 1.38 +0.01 ... 28.23 14.18 HookerFurnishings HOFT 5.5 52 14.53 –0.72 .20 212.62 147.50 JackHenry JKHY 1.0 39 191.56 –8.66 .49
8.49 4.98 DallasNews DALN12.8 dd 5.01 –1.42 1.50 30.38 6.56 Exscientia EXAI ... dd 8.96 –0.06 ... 26.75 3.96 GenerationBio GBIO ... dd 5.53 +0.06 ... 17.68 13.00 HopeBancorp HOPE 3.9 8 14.48 +0.10 .14 105.98 54.80 JackintheBox JACK 2.1 17 84.11 +2.37 .44
199.68 81.12 Datadog DDOG ... cc 91.25 –9.29 ... 16.61 8.49 ExtremeNetworks EXTR ... 39 13.09 –1.13 ... 10.50 9.86 GenesisGrowthA GGAA ... ... 10.10 ... ... 23.80 16.45 HorizonBancorp HBNC 3.4 9 18.66 –0.58 .16 0.25 ... JaguarGlbGrwI Rt JGGCR ... ... .14 +0.01 ...
52.54 29.60 Dave&Buster's PLAY ... 14 37.45 –1.41 ... 21.50 7.00 EyePointPharm EYPT ... dd 8.17 –0.79 ... 10.81 9.97 GenesisUnicorn GENQU ... ... 9.99 –0.05 ... 19.08 10.55 HorizonTechFin HRZN10.4 10 11.59 –0.76 .10 11.18 9.97 JaguarGlblGrowthI JGGCU ... ... 10.11 +0.01 ...
15.35 0.46 Dave DAVE ... dd .50 +0.01 ... 9.62 5.51 Ezcorp EZPW ... 15 8.14 –0.41 ... 16.94 0.89 Genetron GTH ... dd 1.01 –0.08 ... 120.54 57.84 HorizonTherap HZNP ... 19 62.66 –3.43 ... 10.87 9.82 JaguarGlbGrwI A JGGC ... cc 9.97 –0.06 ...

us ,
4.69 0.95 DAVIDsTEA DTEA ... dd 1.00 –0.34 ... F 6.38 3.01 Genfit GNFT ... 3 4.11 –0.36 ... 21.63 15.10 HostHotels HST 2.7 22 17.77 –0.47 .12 39.60 19.76 JamesRiver JRVR .8 dd 24.08 –0.08 .05
2.70 1.08 DawsonGeophys DWSN ... dd 2.00 +0.87 ... 47.28 26.19 Genmab GMAB ... 41 36.46 –0.98 ... 89.62 60.81 HubGroup HUBG ... 8 71.81 –6.96 ... 49.27 19.68 JamfHolding JAMF ... dd 22.84 –0.71 ...
28.35 5.44 DayOneBiopharm DAWN ... dd 21.54 –4.00 ... 83.39 27.84 FARO Tech FARO ... dd 31.60 –2.99 ... 37.90 26.00 Gentex GNTX 1.8 19 26.18 –1.16 .12 34.93 9.39 JanuxTherap JANX ... dd 12.76 –0.47 ...

l
44.00 15.46 HudsonGlobal HSON ... 11 34.95 –0.23 ...
8.85 1.83 DecibelTherap DBTX ... dd 5.01 –0.26 ... 249.00 142.43 F5 FFIV ... 27 148.88 –11.32 ... 99.00 55.02 Gentherm THRM ... 36 59.13 –0.93 ... 2.50 0.61 HuizeHolding HUIZ ... dd .85 –0.09 ... 169.98 117.64 JazzPharm JAZZ ... dd 147.49 –5.17 ...

e
37.99 6.51 DecipheraPharm DCPH ... dd 18.47 +0.39 ... 7.24 1.31 FGFinancial FGF ... dd 1.97 +0.40 ... 10.35 4.10 GeospaceTech GEOS ... dd 4.69 –0.28 ... 14.57 3.07 Humacyte HUMA ... dd 3.95 –0.56 ... 16.65 7.50 JetBlue JBLU ... dd 7.92 –0.35 ...

al a
11.00 9.70 DeepMedicineAcqn DMAQ ... dd 10.06 +0.03 ... 10.50 9.89 FG Merger FGMC ... ... 10.03 +0.03 ... 43.79 32.76 GermanAmerBncp GABC 2.5 14 37.54 +0.10 .23 218.18 153.92 JBHunt JBHT 1.0 19 166.47 –7.59 .40 42.33 16.36 JFrog FROG ... dd 20.12 –2.13 ...
0.37 0.05 DeepMedicineAcqnRt DMAQR ... ... .14 +0.05 ... 65.00 53.30 FRP Holdings FRPH ... cc 56.71 –1.34 ... 3.06 0.99 Geron GERN ... dd 2.70 +0.05 ... 17.79 11.67 HuntingtonBcshs HBAN 4.5 12 13.71 –0.43 .155 186.01 3.33 JianzhiEduc JZ ... ... 3.38 –0.49 ...
50.30 14.76 DefinitiveHlthcr DH ... dd 18.27 –2.18 ... 9.87 9.55 FTACEmeraldA EMLD ... dd 9.86 +0.03 ... 10.50 9.70 GesherIAcqnA GIAC ... dd 9.97 +0.02 ... 35.15 21.89 Hurco HURC 2.5 18 23.78 –0.52 .15 4.88 1.57 Jiayin JFIN ... 1 2.44 –0.06 ...
10.12 9.92 DenaliCapAcqnA DECA ... ... 10.04 –0.07 ... 10.36 9.72 FTACZeusAcqnA ZING ... dd 9.87 –0.03 ... 4.32 1.14 GetnetAdquirencia GET 7.0 ... 1.75 –0.06.1238 72.67 42.66 HuronConsulting HURN ... 16 65.35 –0.03 ... 117.99 54.06 JohnsonOutdoors JOUT 2.2 13 54.80 –3.18 .30
56.08 20.24 DenaliTherap DNLI ... dd 29.83 –1.52 ... 4.25 2.25 FTAI Infra FIP ... ... 2.58 –0.47 ... 79.40 36.86 GibraltarInds ROCK ... 17 41.46 –0.48 ... 9.81 2.76 JounceTherap JNCE ... dd 3.04 –0.21 ...

ci on
16.57 1.27 Hut8Mining HUT ... dd 1.94 –0.41 ...
62.60 30.89 DentsplySirona XRAY 1.6 19 32.05 –1.91 .125 11.20 2.12 FTC Solar FTCI ... dd 3.77 –0.53 ... 62.00 12.51 GigaCloudTech GCT ... ... 14.99 –3.11 ... 47.78 2.27 Hydrofarm HYFM ... dd 2.74 –0.34 ... 10.03 9.82 JupiterWellnessA JWAC ... dd 10.00 –0.02 ...
91.39 56.19 Descartes DSGX ... 63 65.88 –2.96 ... 22.95 1.08 FangddNetwork DUO ... dd 1.08 –0.29 ... 33.40 15.24 GIIIApparel GIII ... 4 16.31 –2.26 ... 16.61 1.13 Hyperfine HYPR ... dd 1.29 +0.07 ... 0.36 0.06 JupiterWellnessRt JWACR ... ... .08 –0.01 ...
26.30 9.61 DesignTherap DSGN ... dd 21.79 –2.83 ... 14.77 4.31 Fanhua FANH10.5 50 5.52 +0.37.1453 9.66 5.62 GilatSatellite GILT ... cc 5.81 –0.48 ... 7.90 5.15 Hywin HYW ... ... 6.32 –0.16 ... K
8.99 3.27 DestinationXL DXLG ... 4 5.83 –0.33 ... 11.50 0.88 FaradayFuture FFIE ... dd .97 –0.14 ... 74.12 57.17 GileadSciences GILD 4.5 20 65.60 +0.32 .73 10.70 1.87 HyzonMotors HYZN ... dd 1.91 –0.09 ...
5.20 3.00 Deswell DSWL 6.6 6 3.05 –0.06 .10 9.28 4.33 FarmerBros FARM ... dd 5.13 –0.35 ... 137.00 30.74 GitLab GTLB ... dd 57.38 –0.60 ... 457.12 282.83 KLA KLAC 1.5 15 335.53 –23.14 1.30
164.86 66.89 DexCom DXCM ... cc 90.09 –2.80 ... 10.01 0.36 FastRadius FSRD ... dd .48 –0.16 ... 12.78 9.43 GladstoneCap GLAD 8.3 7 9.71 –0.34.0675 I 13.36 2.94 KLX Energy KLXE ... dd 6.43 –0.77 ...
234.84 163.90 DiamondHillInvt DHIL 3.4 10 177.22 –0.42 1.50 64.75 45.68 Fastenal FAST 2.6 27 47.36 –3.84 .31 26.13 17.73 GladstoneComm GOOD 8.2 cc 18.29 –0.80.1254 158.81 60.15 IAC IAC ... dd 60.55 –8.46 ... 11.99 6.89 KVH Inds KVHI ... dd 9.77 –0.07 ...
162.24 77.21 DiamondbkEner FANG 5.4 6 132.62 –2.40 2.30 9.99 9.70 FatProjectsAcqn FATP ... dd 9.94 ... ... 17.15 12.39 GladstoneInvt GAIN 6.4 7 14.05 –0.23 .075 20.69 10.77 IBEX IBEX ... 14 16.09 –0.55 ... 10.08 9.80 KairousAcqn KACL ... ... 10.04 –0.02 ...
37.44 18.54 DigiIntl DGII ... 97 34.66 –0.75 ... 72.29 17.10 FateTherap FATE ... dd 25.00 –3.10 ... 42.10 20.71 GladstoneLand LAND 2.6 dd 21.00 –2.36.0456 111.10 84.68 ICF Intl ICFI .5 29 104.32 –0.26 .14 119.31 66.25 KaiserAlum KALU 4.4 dd 69.64 –7.62 .77
53.74 13.03 Digimarc DMRC ... dd 16.61 –0.53 ... 2.89 0.26 FedNat FNHC ... dd .35 +0.01 ... 9.87 9.75 GlblBlockchain GBBK ... ... 9.85 –0.01 ... 251.77 154.73 ICU Medical ICUI ... cc 161.72 –10.71 ... 3.16 0.28 KalaPharm KALA ... dd .31 –0.03 ...

er s
11.00 9.81 DigitalHealth DHAC ... dd 10.12 +0.02 ... 9.98 9.91 FeutuneLightA FLFV ... ... 9.96 +0.01 ... 0.11 0.06 GlbBlockchainRt GBBKR ... ... .07 –0.01 ... 27.71 8.14 IDEAYA Bio IDYA ... dd 11.16 +1.91 ... 12.03 1.32 Kaltura KLTR ... dd 1.97 –0.15 ...
175.00 9.84 DigitalWorldA DWAC ... dd 23.43 –0.57 ... 0.10 0.07 FeutuneLightRt FLFVR ... ... .07 –0.03 ... 73.02 21.65 GlbBloodTherap GBT ... dd 67.62 –0.14 ... 689.95 318.50 IdexxLab IDXX ... 44 342.56 –31.57 ... 19.97 8.00 KalVistaPharm KALV ... dd 14.99 –0.88 ...
38.35 28.36 DimeCommBcshs DCOM 3.1 9 31.09 –0.32 .24 16.91 7.81 FibroGen FGEN ... dd 11.94 –0.94 ... 77.38 15.63 Global-EOnline GLBE ... dd 33.27 –0.31 ... 55.98 24.94 IES Holdings IESC ... 16 29.06 –1.33 ... 6.96 4.22 Kamada KMDA ... dd 4.76 –0.24 ...
To reprint or license content, please contact Barron's reprints department at 800-843-0008 or www.djreprints.com

113.98 58.52 Diodes DIOD ... 11 65.77 –5.22 ... 59.65 34.20 FidelityD&D FDBC 3.1 9 42.48 +0.28 .33 10.30 9.69 GlblTechAcqnI GTAC ... 20 10.05 +0.01 ... 76.20 12.67 IGM Biosci IGMS ... dd 20.85 –0.40 ... 5.20 2.00 KandiTech KNDI ... dd 2.07 –0.07 ...
57.80 30.33 DistributionSoln DSGR ... 32 32.59 –3.97 ... 12.19 5.89 FiestaRestaurant FRGI ... dd 7.00 –0.23 ... 20.05 12.54 GlobalWaterRscs GWRS 2.2 61 12.99 –1.06.0246 78.35 5.05 I-Mab IMAB ... dd 5.08 –0.69 ... 43.22 13.46 Kanzhun BZ ... cc 21.29 –1.47 ...
18.00
3.98
5.27
1.26
Diversey
DiversifiedHlthcr
DSEY ...
DHC 3.0
dd
1
5.35
1.32
–0.88 ...
–0.08 .01
50.64
34.43
31.80
24.41
m er
FifthThirdBncp
FinInstitutions
FITB 3.8
FISI 4.6
11
6
35.03
25.35
–0.71 .33
–0.48 .29
79.49
10.00
36.81
9.77
GlobalFoundries
GlobalinkInvt
GFS ...
GLLI ...
64
dd
57.61
9.96
–2.57 ...
... ...
82.94
9.42
55.92
1.75
IndusRealty
IN8bio
INDT 1.0
INAB ...
37
dd
62.99
2.51
+2.65 .16
+0.04 ...
25.57
278.25
14.70
92.26
KaratPkg
KarunaTherap
KRT
KRTX
...
...
14
dd
15.83
239.35
–2.94 ...
–9.64 ...
6.98 1.08 DixieGroup DXYN ... dd 1.18 –0.12 ... 10.03 9.75 FinStrategiesA FXCO ... 14 10.01 ... ... 0.31 0.08 GlobalinkInvtRt GLLIR ... ... .19 –0.01 ... 17.88 2.78 IO Biotech IOBT ... dd 3.14 +0.12 ... 14.73 4.00 KaryopharmTherap KPTI ... dd 5.04 –0.31 ...
67.88 15.19 dLocal DLO ... 85 25.06 –1.49 ... 0.28 0.07 FinStrategiesRt FXCOR ... ... .07 ... ... 2.50 0.51 GlycoMimetics GLYC ... dd .63 –0.10 ... 180.54 82.68 IPG Photonics IPGP ... 18 88.05 –4.13 ... 6.56 1.00 Katapult KPLT ... 26 1.14 –0.17 ...
89.50 25.09 Docebo DCBO ... dd 28.70 –2.85 ... 17.39 1.71 FinchTherap FNCH ... dd 2.46 –0.26 ... 23.69 11.73 Gogo GOGO ... 6 13.32 –0.39 ... 30.26 17.80 i3Verticals IIIV ... dd 20.05 –2.35 ... 13.89 10.59 KearnyFinancial KRNY 3.9 12 11.19 –0.12 .11
288.50 53.25 DocuSign DOCU ... dd 56.58 –7.46 ... 10.67 9.75 FinnovateAcqnA FNVT ... dd 10.06 +0.03 ... 17.59 3.92 Gogoro GGR ... dd 5.35 +1.02 ... 20.99 8.85 IVERICbio ISEE ... dd 17.62 –0.97 ... 23.00 14.33 KellyServices A KELYA 2.1 10 14.58 –0.74 .075
8.98 1.25 Dogness DOGZ ... 21 1.27 –0.12 ... 10.55 9.82 FintechEcoA FEXD ... cc 10.04 –0.09 ... 6.21 0.38 GoHealth GOCO ... dd .40 –0.02 ... 9.95 9.68 IXAcqnA IXAQ ... 19 9.92 +0.01 ... 26.64 15.00 KellyServices B KELYB 2.0 10 15.00 –0.49 .075
177.19 84.26 DollarTree DLTR ... 20 141.92 –2.53 ... 0.28 0.07 FintechEcoRt FEXDR ... ... .12 +0.05 ... 30.66 10.65 GolarLNG GLNG ... 7 26.21 –2.32 ... 58.50 47.17 IcahnEnterprises IEP 15.5 dd 51.77 +0.57 2.00 10.80 4.00 KemPharm KMPH ... dd 6.50 +0.32 ...
m rp
95.50 18.17 Domo DOMO ... dd 19.49 –2.21 ... 21.86 8.78 FinWiseBancorp FINW ... ... 10.11 –0.69 ... 59.96 36.32 GoldenEnt GDEN ... 12 38.40 –2.08 ... 51.98 21.08 Ichor ICHR ... 13 27.86 –1.83 ... 8.69 6.95 KY FirstFedBncp KFFB 5.4 39 7.47 –0.14 .10
17.13 13.09 DonegalGroup A DGICA 4.6 cc 14.26 –0.38 .165 24.60 11.68 FirstAdvantage FA ... 35 13.69 –1.12 ... 16.46 7.59 GoldenOcean GOGL32.2 3 8.84 –0.14 .60 7.63 0.35 iClickInteract ICLK ... dd .35 –0.05 ... 68.29 24.38 KerosTherap KROS ... dd 36.76 –2.21 ...
17.80 12.00 DonegalGroup B DGICB 4.2 cc 13.96 –1.85.1475 50.92 32.90 FirstBancorpNC FBNC 2.3 12 38.23 +0.96 .22 16.23 12.62 GolubCapital GBDC 8.9 11 13.54 –0.22 .30 313.00 196.34 Icon ICLR ... 81 204.49 –21.71 ... 41.31 32.44 KeurigDrPepper KDP 2.2 24 37.17 –1.52 .20
32.61 17.01 DorchesterMnls DMLP 6.9 10 27.95 –0.15.7539 36.80 26.97 FirstBancorp FNLC 4.8 8 28.10 –0.96 .34 48.05 5.59 GoodRx GDRX ... dd 6.01 –0.83 ... 39.81 3.87 Icosavax ICVX ... dd 3.87 –0.90 ... 20.48 12.07 KewauneeSci KEQU ... dd 18.50 +0.44 ...
122.96 83.09 DormanProducts DORM ... 19 85.68 +0.22 ... 42.89 26.95 FirstBancshares FBMS 2.5 10 30.44 –0.44 .19 24.89 10.33 Goodyear GT ... 4 12.86 –1.16 ... 27.02 6.43 iHeartMedia IHRT ... 18 10.26 –0.28 ... 6.94 4.24 KeyTronic KTCC ... 10 4.28 –0.22 ...
17.88 8.31 DoubleDown DDI ... 23 10.00 –0.11 ... 16.76 12.80 FirstBank FRBA 1.7 8 14.27 –1.00 .06 181.30 37.35 GooseheadIns GSHD ... cc 40.57 –13.58 ... 10.30 9.64 KeyarchAcqn KYCH ... ... 9.90 +0.04 ...
4.00 1.11 DouYuIntl DOYU ... dd 1.27 –0.32 ... 29.73 21.66 FirstBusey BUSE 3.9 12 23.46 +0.16 .23 12.14 5.25 GoPro GPRO ... 2 5.65 –0.28 ... 17.50 2.83 IkenaOncology IKNA ... dd 4.06 –1.19 ... 18.55 4.31 KezarLifeSci KZR ... dd 9.18 –0.61 ...
60.84 9.77 DraftKings DKNG ... dd 18.60 +0.97 ... 36.58 26.57 FirstBusFinSvcs FBIZ 2.3 8 34.79 +1.23.1975 9.90 9.60 GoresIX A GHIX ... ... 9.69 ... ... 453.92 173.45 Illumina ILMN ... dd 199.88 –10.47 ... 81.47 54.34 Kforce KFRC 2.0 14 59.59 –0.04 .30
30.21 11.56 ImagoBioSci IMGO ... dd 16.40 –0.51 ...
For personal non-commercial use only. Do not edit or alter. Reproductions not permitted.

23.09 9.60 DreamFinders DFH ... 6 11.23 –1.40 ... 947.71 598.01 FirstCitizBcshA FCNCA .2 15 826.59 –19.66 .47 15.20 5.64 GossamerBio GOSS ... dd 13.52 –0.55 ... 30.61 16.66 KimballElec KE ... 15 19.18 –1.60 ...
35.45 24.62 DrivenBrands DRVN ... dd 32.26 –2.16 ... 36.73 26.51 FstCmntyBcsh FCBC 3.5 13 33.02 +1.44 .29 17.15 2.26 Grab GRAB ... 12 2.98 –0.17 ... 4.57 0.97 Imara IMRA ... dd 2.35 +0.26 ... 11.85 6.86 KimballIntl B KBAL 5.1 dd 7.00 –0.50 .09
31.55 19.07 Dropbox DBX ... 24 21.70 –1.05 ... 4.89 3.19 FirstEagleAltCap FCRD13.7 dd 3.22 –0.07 .11 15.00 1.68 GracellBiotech GRCL ... dd 2.15 –0.22 ... 8.17 0.80 iMediaBrands IMBI ... dd .86 –0.11 ... 45.50 29.05 Kinetik KNTK 7.8 dd 38.36 +1.17 .75
9.78 4.28 Immersion IMMR ... 24 5.88 –0.15 ...
co o

50.26 11.41 DuckCreekTech DCT ... dd 11.95 ... ... 26.83 18.75 FirstFinBncpOH FFBC 4.2 10 21.99 +0.12 .23 102.04 70.00 GrandCanyonEduc LOPE ... 15 85.09 +1.92 ... 31.99 2.07 KingsoftCloud KC ... dd 2.08 –0.47 ...
17.25 7.05 DuluthHoldings DLTH ... 11 7.07 –0.74 ... 55.00 37.47 FirstFinBkshs FFIN 1.6 27 43.03 +0.13 .17 20.44 2.07 GraphiteBio GRPH ... dd 3.44 ... ... 33.25 3.74 Immuneering IMRX ... dd 12.28 +3.41 ... 15.25 7.36 KiniksaPharm KNSA ... dd 10.53 –0.39 ...
205.00 60.50 Duolingo DUOL ... dd 99.31 –0.24 ... 49.00 38.51 FirstFinIN THFF 2.3 10 46.46 +0.14 .54 3.79 0.72 GraybugVision GRAY ... dd 1.05 –0.02 ... 14.50 2.52 Immunic IMUX ... dd 3.91 –0.81 ... 26.05 7.18 KinnateBio KNTE ... dd 12.17 –2.09 ...
17.89 4.30 DyneTherap DYN ... dd 13.65 –1.26 ... 17.95 14.62 FirstFinNW FFNW 3.1 12 15.66 +0.72 .12 21.30 11.10 GreatElmCap GECC16.0 dd 11.22 –0.90 .45 10.88 2.60 ImmunityBio IBRX ... dd 6.06 +1.42 ... 27.22 2.98 Kirkland's KIRK ... dd 3.82 –0.49 ...
29.41 18.31 FirstFoundation FFWM 2.3 8 19.35 –0.20 .11 2.63 1.40 GreatElm GEG ... dd 2.34 +0.29 ... 61.32 18.43 Immunocore IMCR ... dd 44.02 –0.73 ... 27.50 2.50 Knightscope KSCP ... ... 2.94 +0.10 ...
E 29.65 17.18 FirstGuarBcshs FGBI 2.8 8 22.87 –0.28 .16 7.77 3.10 Immunogen IMGN ... dd 5.04 –0.42 ... 29.50 13.78 KnowBe4 KNBE ... cc 17.30 –2.38 ...
16.27 9.30 GreatLakesDredge GLDD ... 14 9.80 +0.01 ...
F

8.99 5.00 EDAP TMS EDAP ... cc 8.94 +0.72 ... 31.16 21.21 FirstHawaiian FHB 4.0 14 25.75 –0.64 .26 63.95 50.30 GreatSouthernBncp GSBC 2.6 11 60.45 +1.33 .40 7.05 3.51 ImmunoPrecise IPA ... dd 5.20 –0.45 ... 131.97 4.90 KodiakSciences KOD ... dd 9.11 –1.13 ...
10.38 9.98 EsgenAcqn ESACU ... ... 10.18 –0.01 ... 53.56 28.80 FirstInternetBncp INBK .7 8 36.17 +0.01 .06 44.27 26.09 GreenPlains GPRE ... dd 32.05 –6.05 ... 9.54 3.15 Immunovant IMVT ... dd 4.88 –0.12 ... 181.38 20.40 KornitDigital KRNT ... dd 28.33 –3.05 ...
10.75 9.85 EsgenAcqnA ESAC ... 21 10.13 +0.01 ... 45.33 32.40 FirstInterBanc FIBK 3.9 23 41.83 +1.26 .41 16.02 11.05 GreenPlainsPtrs GPP 13.8 8 13.00 –0.27 .45 5.00 1.80 Immutep IMMP ... dd 1.80 –0.09 ... 44.87 32.78 KraftHeinz KHC 4.6 28 34.71 –1.75 .40
21.61 14.79 ESSA Bancorp ESSA 2.9 11 20.61 +0.52 .15 46.12 34.07 FirstMerchants FRME 3.1 12 41.17 +0.61 .32 10.14 9.78 GreenVisorI A GVCI ... 19 10.12 –0.01 ... 15.24 5.72 ImpelPharm IMPL ... dd 6.61 –0.86 ... 23.67 11.69 KratosDefense KTOS ... dd 12.13 –0.48 ...
33.86 20.07 EVO Payments EVOP ... cc 33.23 –0.29 ... 45.84 33.35 FirstMidBcshs FMBH 2.7 9 34.64 +0.18 .23 43.89 2.02 GreenidgeGen GREE ... dd 2.15 –0.28 ... 99.00 39.74 Impinj PI ... dd 89.40 –2.20 ... 19.55 11.34 KrispyKreme DNUT 1.1 dd 12.20 –0.25 .035
24.74 18.69 EagleBncpMT EBMT 2.8 13 19.74 +0.36.1375 23.77 14.50 FirstNWBncp FNWB 1.8 10 15.90 –0.30 .07 54.60 2.15 Greenlane GNLN ... dd 2.15 –0.46 ... 100.00 50.50 InariMedical NARI ... dd 69.60 –7.67 ... 25.00 2.96 KronosBio KRON ... dd 4.57 –0.34 ...
78.75 36.21 EagleBulkShip EGLE20.4 2 43.07 –0.51 2.20 140.14 59.60 FirstSolar FSLR ... 77 135.81 –0.01 ... 15.80 1.55 GreenLightBio GRNA ... dd 1.78 –0.36 ... 90.00 3.26 Incannex IXHL ... dd 5.20 +0.48 ... 102.99 38.86 KrystalBiotech KRYS ... dd 68.52 –2.32 ...
58.25 27.91 EaglePharm EGRX ... 16 28.93 –2.38 ... 52.70 42.29 1stSource SRCE 2.6 10 48.33 +0.16 .32 8.35 6.51 GreenlightCapRe GLRE ... 16 7.91 –0.04 ... 10.35 9.71 InceptionGrowth IGTA ... dd 9.92 –0.01 ... 73.45 37.35 Kulicke&Soffa KLIC 1.7 5 40.84 –2.40 .17
22.72 0.67 Eargo EAR ... dd 1.56 –0.20 ... 24.50 16.55 FirstUnited FUNC 3.5 5 17.05 –0.73 .15 15.90 7.39 Grifols GRFS ... ... 8.45 –0.08 ... 0.27 0.08 InceptionGrowthRt IGTAR ... ... .09 +0.01 ... 21.19 10.41 KuraOncology KURA ... dd 13.20 –1.27 ...
93.51 61.65 EastWestBncp EWBC 2.2 11 72.67 –2.58 .40 25.46 11.57 FirstWatchRest FWRG ... cc 15.11 –3.38 ... 28.98 12.83 GrindrodShipping GRIN 14.4 6 23.40 –0.57 .84 84.86 61.91 Incyte INCY ... 16 68.83 –3.37 ... 96.60 30.95 KuraSushiUSA KRUS ... dd 71.14 –4.25 ...
22.35 17.98 EasternBankshares EBC 1.9 20 20.60 +0.28 .10 34.20 25.61 FirstWesternFin MYFW ... 13 25.78 –0.72 ... 14.42 1.71 Gritstone GRTS ... dd 3.52 –0.07 ... 93.52 69.05 IndependentBank INDB 2.6 21 78.86 +0.41 .51 69.12 13.15 KymeraTherap KYMR ... dd 25.91 –3.44 ...
28.32 18.63 Eastern EML 2.3 8 18.80 –0.85 .11 97.04 58.30 FirstCash FCFS 1.7 20 78.23 –1.76 .33 46.37 21.01 GroceryOutlet GO ... 64 35.71 –2.56 ... 26.00 17.87 IndepBankMI IBCP 4.4 7 19.99 –0.24 .22
2.43 0.37 EbangIntl EBON ... 18 .39 –0.10 ... 5.28 1.24 FirsthandTechVal SVVC ... dd 1.31 –0.18 ... 79.66 62.82 IndependentBank IBTX 2.2 14 68.36 +0.94 .38 L
31.15 8.78 Groupon GRPN ... dd 10.73 –0.58 ...
81.19 40.52 eBay EBAY 2.1 dd 42.00 –3.10 .22 202.78 112.64 FirstService FSV .7 43 120.74 –8.97.2025 10.30 9.60 GrowthforGoodA GFGD ... dd 9.85 +0.02 ... 28.66 6.40 IndLogistics ILPT .6 dd 6.80 –0.30 .01 10.19 9.72 LamfGlbI A LGVC ... dd 10.04 ... ...
44.42 12.50 Ebix EBIX 1.3 10 23.17 –0.50 .075 111.84 87.03 Fiserv FISV ... 34 103.61 –2.85 ... 0.25 0.07 GrowthforGoodRt GFGDR ... ... .11 ... ... 10.06 9.83 IndlTechII A ITAQ ... 68 10.06 +0.05 ... 10.07 9.83 LavaMedtech LVAC ... 7 10.04 +0.05 ...
30.90 16.68 EchoStar SATS ... 23 16.82 –0.72 ... 221.00 109.49 FiveBelow FIVE ... 32 136.85 –5.81 ... 63.06 44.86 GrAeroportuario OMAB 6.8 16 55.33 +0.11.4944 9.86 4.67 Infinera INFN ... dd 4.94 –0.39 ... 8.38 2.28 LavaTherap LVTX ... ... 2.42 –0.08 ...
22.98 5.41 EdgewiseTherap EWTX ... dd 9.58 –2.84 ... 49.50 11.50 5EAdvMatls FEAM ... ... 15.31 –1.29 ... 44.60 33.09 GuarantyBcshrs GNTY 2.5 11 35.12 –0.15 .22 3.77 0.46 InfinityPharm INFI ... dd 1.34 –0.15 ... 10.09 9.86 LFCapAcqnIIA LFAC ... dd 10.05 –0.01 ...
5.55 1.95 Edgio EGIO ... dd 3.14 –0.26 ... 176.49 80.52 Five9 FIVN ... dd 81.78 –9.67 ... 132.87 27.65 GuardantHealth GH ... dd 56.08 –3.20 ... 5.69 0.78 InflaRx IFRX ... dd 2.70 –0.14 ... 160.59 71.73 LGI Homes LGIH ... 5 86.47 –8.10 ...
63.54 9.59 EditasMedicine EDIT ... dd 14.44 –1.40 ... 33.98 21.91 FiveStarBncp FSBC 2.2 11 26.99 –1.08 .15 4.62 3.10 GulfIslandFab GIFI ... dd 4.25 –0.05 ... 9.70 5.12 InfoSvcsGrp III 3.0 15 5.29 –0.26 .04 170.32 108.42 LHC Group LHCG ... 69 162.75 –0.82 ...
10.40 2.71 EducDev EDUC14.2 5 2.81 –0.19 .10 19.63 13.63 Flex FLEX ... 9 17.74 –1.62 ... 6.76 3.30 Gulf Resources GURE ... 5 3.68 –0.44 ... 102.88 63.21 InglesMarkets IMKTA .8 6 83.33 –8.15 .165 10.31 9.85 LIVCapAcqnII A LIVB ... ... 10.05 +0.04 ...
n-

27.57 5.63 EHang EH ... dd 5.85 –0.45 ... 36.77 14.88 Flexsteel FLXS 3.8 61 15.59 –0.89 .15 47.90 7.67 Inhibrx INBX ... dd 14.46 –1.26 ... 60.43 42.36 LKQ LKQ 2.1 12 48.72 –4.93 .25
47.21 4.52 eHealth EHTH ... dd 5.47 +0.32 ... 39.40 4.96 FluenceEnergy FLNC ... dd 18.24 –0.46 ... H 99.27 20.60 InMode INMD ... 16 31.19 –2.02 ... 235.48 139.84 LPL Financial LPLA .4 37 229.91 –1.35 .25
10.02 3.53 EigerBioPharma EIGR ... dd 7.25 +0.54 ... 2.73 1.05 Fluent FLNT ... dd 1.45 –0.09 ... 50.69 26.12 H&E Equipment HEES 3.6 13 30.45 –2.55 .275 11.95 2.00 InnatePharma IPHA ... dd 3.07 +0.54 ... 8.93 5.41 LSI Inds LYTS 2.5 15 7.85 –0.30 .05
10.40 9.65 8iAcqn2 LAX ... dd 9.98 ... ... 25.95 19.88 FlushingFin FFIC 4.2 7 20.75 –0.03 .22 19.99 14.19 HBT Finl HBT 3.7 9 17.52 –0.84 .16 11.25 3.10 Innodata INOD ... dd 3.16 –0.24 ... 15.25 12.98 LakeShoreBancorp LSBK 5.4 12 13.31 +0.09 .18
21.47 2.00 89bio ETNB ... dd 6.30 +1.52 ... 57.41 14.56 Flywire FLYW ... dd 24.04 –2.63 ... 10.10 9.87 HCM Acqn A HCMA ... 32 10.07 +0.02 ... 106.87 81.00 Innospec IOSP 1.4 19 87.56 –2.95 .63 20.69 13.91 LakelandBcp LBAI 3.5 11 16.52 +0.09 .145
17.70 8.15 ElPolloLoco LOCO ... 13 9.14 ... ... 69.13 30.88 FocusFinPtrs FOCS ... 33 35.93 –3.62 ... 7.05 1.76 HCW Biologics HCWB ... dd 2.44 –0.30 ... 14.23 3.39 InnovAge INNV ... dd 5.53 +1.74 ... 85.71 62.44 LakelandFin LKFN 2.1 20 77.41 +1.55 .40
244.80 142.20 ElbitSystems ESLT 1.0 38 197.76 –3.63 .50 10.44 9.68 FocusImpact FIAC ... 25 9.98 +0.03 ... 25.98 21.87 HMN Fin HMNF 1.0 11 23.65 +0.95 .06 10.61 9.87 InnovativeIntlA IOAC ... dd 10.14 +0.03 ... 22.21 11.15 LakelandInd LAKE ... 20 11.27 –0.73 ...
146.72 109.24 ElectronicArts EA .6 39 121.74 –7.19 .19 16.50 5.90 FocusUniversal FCUV ... dd 10.32 –0.11 ... 6.82 1.23 Hookipa HOOK ... dd 1.48 +0.15 ... 9.90 5.77 InnovSolSuprt ISSC ... 28 8.78 –0.22 ... 10.04 9.89 LakeshoreAcqnII LBBB ... ... 10.03 +0.01 ...
no

10.97 1.02 ElevationOnc ELEV ... dd 1.14 –0.06 ... 24.34 8.01 FoghornTherap FHTX ... dd 8.60 –1.66 ... 39.43 8.40 HUTCHMED(China) HCM ... ... 12.10 –1.87 ... 20.71 12.28 Innoviva INVA ... 10 12.50 –0.73 ... 0.35 0.05 LakeshoreII Rt LBBBR ... ... .16 +0.08 ...
24.28 2.52 EliemTherap ELYM ... dd 3.28 +0.18 ... 10.09 9.86 ForbionEuroA FRBN ... dd 10.09 +0.01 ... 51.15 21.98 H World HTHT .0 dd 35.55 –0.48 .21 49.65 22.51 Inogen INGN ... dd 26.96 –0.43 ... 731.85 375.87 LamResearch LRCX 1.7 12 409.22 –41.561.725
209.80 7.01 EmbarkTech EMBK ... dd 9.47 –0.61 ... 25.21 4.95 FormaTherap FMTX ... dd 19.96 +0.04 ... 24.78 16.92 HackettGroup HCKT 2.4 13 18.66 –1.25 .11 8.15 1.38 InovioPharma INO ... dd 1.93 –0.29 ... 124.32 83.96 LamarAdv LAMR 5.2 21 92.71 –5.56 1.20
63.00 23.62 Embecta EMBC 1.9 5 31.61 –0.78 .15 47.48 26.38 FormFactor FORM ... 20 26.98 –1.64 ... 37.29 9.28 HailiangEduc HLG ... 11 14.30 +0.05 ... 14.87 2.87 InozymePharma INZY ... dd 3.92 +0.78 ... 177.07 116.85 LancasterColony LANC 1.9 52 168.01 –4.57 .80
8.73 1.95 Emcore EMKR ... dd 2.02 –0.23 ... 142.00 83.44 FormulaSys FORTY 1.2 19 93.05 –2.48.7908 48.88 18.15 HainCelestial HAIN ... 22 18.30 –1.93 ... 7.98 1.74 Inseego INSG ... dd 2.52 –0.07 ... 12.04 7.65 Landec LNDC ... dd 9.67 –0.48 ...
10.04 9.75 EM Horizon A HORI ... ... 10.00 +0.03 ... 60.90 37.45 ForresterRes FORR ... 24 37.79 –2.87 ... 4.72 1.14 HallmarkFin HALL ... dd 1.25 ... ... 111.02 81.37 InsightEnt NSIT ... 12 84.54 –1.39 ... 30.00 24.16 LandmarkBncp LARK 3.2 10 26.48 +1.08 .21
27.68 18.76 Enact ACT 2.4 6 23.12 –1.91 .14 74.35 47.37 Fortinet FTNT ... 62 50.42 –3.17 ... 52.98 31.36 HalozymeTherap HALO ... 17 41.97 +0.57 ... 34.44 16.41 Insmed INSM ... dd 23.61 –1.22 ... 16.17 0.55 LandosBio LABP ... dd .90 –0.14 ...
102.00 37.59 EnantaPharma ENTA ... dd 55.80 –8.24 ... 25.77 14.29 FortressTransport FTAI 7.8 dd 17.01 –0.93 .33 116.00 61.38 HamiltonLane HLNE 2.3 17 69.64 –2.97 .40 108.00 2.58 Inspirato ISPO ... dd 2.64 –0.26 ... 188.63 137.15 LandstarSystem LSTR .9 12 141.01 –5.68 .30
72.73 46.89 EncoreCapital ECPG ... 4 49.93 –2.52 ... 10.64 9.88 FortuneRiseA FRLA ... dd 10.14 –0.05 ... 59.82 41.62 HancockWhitney HWC 2.2 9 49.89 –0.18 .27 23.68 3.90 InstilBio TIL ... dd 5.23 –1.04 ... 87.47 22.20 Lantheus LNTH ... cc 79.51 –5.54 ...
151.64 82.00 EncoreWire WIRE .1 3 118.21 –9.13 .02 125.71 80.56 ForwardAir FWRD 1.0 15 91.52 –6.47 .24 28.84 17.66 HanmiFinancial HAFC 4.1 7 24.59 –0.06 .25 324.81 181.00 Insulet PODD ... cc 255.00 –13.91 ... 14.27 5.64 Largo LGO ... 14 5.67 –1.06 ...
10.15 9.87 EnergemA ENCP ... ... 10.13 ... ... 20.00 3.28 Fossil FOSL ... 22 4.06 +0.21 ... 24.68 19.07 HanoverBancorp HNVR 1.9 5 20.58 –0.17 .10 33.07 13.52 Intapp INTA ... dd 16.61 –0.44 ... 13.78 1.53 LarimarTherap LRMR ... dd 3.20 –0.08 ...
26.20 16.92 EnergyRecovery ERII ... cc 24.44 –1.58 ... 17.48 10.98 FosterLB FSTR ... 49 10.98 –0.93 ... 15.45 12.99 HarborOneBncp HONE 2.0 14 13.84 ... .07 74.98 45.46 IntegraLifeSci IART ... 23 45.55 –4.04 ... 10.30 9.80 LarkspurHlthA LSPR ... dd 9.97 –0.03 ...
39.48 7.26 Enovix ENVX ... dd 21.74 +0.68 ... 36.14 5.32 4D Molecular FDMT ... dd 8.85 –0.21 ... 12.22 8.25 Harmonic HLIT ... 38 11.88 +0.88 ... 10.77 9.71 IntegralAcqnCorp.1 INTE ... dd 9.92 ... ... 10.51 9.88 LatAmGrowthA LATG ... 15 10.07 ... ...
324.84 113.40 EnphaseEnergy ENPH ... cc 318.01 +12.31 ... 44.95 31.33 FoxA FOXA 1.5 16 33.67 –0.85 .25 57.13 31.54 HarmonyBio HRMY ... 46 43.84 –3.17 ... 29.68 7.36 IntegralAd IAS ... dd 7.60 –0.99 ... 14.58 0.86 Latch LTCH ... dd 1.29 –0.10 ...
94.25 68.29 EnsignGroup ENSG .3 24 84.77 –2.35 .055 40.91 28.96 FoxB FOX 1.6 15 31.19 –0.78 .25 9.10 1.45 HarpoonTherap HARP ... dd 1.49 –0.17 ... 56.28 28.42 Intel INTC 5.0 6 29.24 –2.22 .365 27.25 4.85 Latham SWIM ... dd 4.86 –0.59 ...
286.89 185.10 EnstarGroup ESGR ... dd 201.73 +7.79 ... 190.29 69.28 FoxFactory FOXF ... 19 83.95 –10.51 ... 12.99 5.40 HarrowHealth HROW ... dd 8.99 –0.09 ... 158.84 37.08 IntelliaTherap NTLA ... dd 65.71 +1.27 ... 85.45 43.41 LatticeSemi LSCC ... 54 51.69 –3.59 ...
158.00 85.92 Entegris ENTG .4 27 92.80 –10.51 .10 55.10 29.66 Franchise FRG 7.9 4 31.68 –5.01 .625 17.88 5.15 Harte-Hanks HHS ... 8 12.16 –2.84 ... 9.68 1.33 Intellicheck IDN ... dd 2.76 –0.23 ... 19.02 9.41 LaureateEduc LAUR .0 dd 11.51 +0.36 .83
46.48 29.58 EnterpriseBncp EBTC 2.7 9 29.90 –1.99 .205 96.95 68.27 FranklinElec FELE .9 22 83.54 –5.09 .195 8.23 2.89 HarvardBioSci HBIO ... dd 2.97 –0.19 ... 10.93 9.86 IntelligentMedA IQMD ... ... 10.06 +0.01 ... 11.58 1.17 Leafly LFLY ... dd 1.17 –0.35 ...
51.50 39.64 EnterpriseFinSvcs EFSC 2.0 11 46.53 –0.03 .23 4.05 0.65 FreelineTherap FRLN ... dd .84 –0.01 ... 105.73 75.35 Hasbro HAS 3.7 20 75.80 –5.65 .70 4.63 2.10 Inter INTR ... ... 4.03 –0.08 ... 4.17 0.92 LeapTherap LPTX ... dd 1.09 –0.60 ...
10.95 9.80 Ent4.0TechAcqnA ENTF ... ... 10.06 ... ... 6.90 3.06 FreightCarAmer RAIL ... dd 4.02 –0.16 ... 102.95 25.51 HashiCorp HCP ... dd 30.07 –0.63 ... 108.35 64.52 InterParfums IPAR 2.5 25 78.93 –2.84 .50 44.43 17.24 LeeEnterprises LEE ... 11 18.37 –0.53 ...
4.74 1.11 EnthusiastGaming EGLX ... dd 1.21 –0.06 ... 11.33 5.30 FrequencyElec FEIM ... dd 5.74 –0.45 ... 24.27 12.76 HawaiianHoldings HA ... dd 15.11 –0.56 ... 82.83 52.18 InteractiveBrkrs IBKR .6 26 67.72 –1.37 .10 28.84 11.96 LegacyHousing LEGH ... 8 17.68 +0.86 ...
36.85 5.12 EntradaTherap TRDA ... dd 13.91 –1.01 ... 7.88 1.00 FrequencyTherap FREQ ... dd 2.05 –0.09 ... 48.12 32.44 Hawkins HWKN 1.5 15 37.93 –0.25 .14 21.25 10.81 InterceptPharm ICPT ... dd 17.60 +0.60 ... 36.43 8.64 LegalZoom LZ ... dd 9.79 –1.69 ...
69.74 42.33 ePlus PLUS ... 11 43.53 –3.34 ... 159.67 36.02 Freshpet FRPT ... dd 40.80 +1.29 ... 26.60 20.92 HawthornBcsh HWBK 2.9 7 23.73 +0.42 .17 8.77 4.29 Intercure INCR ... 27 4.33 –0.44 ... 10.15 9.73 LegatoMergerII LGTO ... dd 9.95 +0.01 ...
7.99 4.88 EpsilonEnergy EPSN 3.6 6 6.95 +0.01.0625 53.36 10.51 FreshworksA FRSH ... dd 14.78 +0.31 ... 49.76 29.00 HaynesIntl HAYN 2.3 15 37.81 –2.75 .22 74.27 44.73 InterDigital IDCC 3.1 16 45.82 –1.99 .35 58.00 30.76 LegendBiotech LEGN ... dd 42.79 –1.72 ...
9.99 2.63 EQRx EQRX ... dd 4.60 –0.74 ... 46.69 20.30 Frontdoor FTDR ... 16 22.00 –2.08 ... 57.19 10.21 HealthCatalyst HCAT ... dd 10.32 –1.22 ... 18.03 9.50 Interface TILE .4 9 9.82 –0.77 .01 58.66 38.32 LeMaitreVascular LMAT 1.0 49 49.44 –1.96 .125
 48 BARRON’S September 19, 2022

D ATA NASDAQ ISSUES B A R R ON S .C OM / D ATA

52-Week Tick Div 52-Week Tick Div 52-Week Tick Div 52-Week Tick Div 52-Week Tick Div
High Low Name Sym Yld P/E Last Chg. Amt. High Low Name Sym Yld P/E Last Chg. Amt. High Low Name Sym Yld P/E Last Chg. Amt. High Low Name Sym Yld P/E Last Chg. Amt. High Low Name Sym Yld P/E Last Chg. Amt.
164.69 28.64 LendingTree TREE ... 19 32.18 –3.86 ... 7.28 2.14 Mesoblast MESO ... dd 3.25 +0.21 ... 24.00 5.46 Novonix NVX ... dd 5.75 –0.76 ... 4.69 1.85 PerformantFin PFMT ... dd 1.90 –0.32 ... 10.03 9.78 RedwoodsAcqn RWOD ... ... 9.89 –0.01 ...
6.97 3.42 LesakaTech LSAK ... dd 3.50 –1.67 ... 371.41 144.29 MetaPlatforms META ... 12 146.29 –22.86 ... 3.32 0.52 NuCana NCNA ... dd 1.50 –0.08 ... 33.09 16.41 PerionNetwork PERI ... 15 21.32 –0.59 ... 0.15 0.07 RedwoodsAcqnRt RWODR ... ... .10 ... ...
24.40 13.47 Leslie's LESL ... 18 13.88 –1.11 ... 10.45 9.80 MetalSkyStar MSSA ... ... 9.92 –0.05 ... 37.09 7.52 NurixTherap NRIX ... dd 15.56 –0.31 ... 15.70 7.05 Perma-PipeIntl PPIH ... 18 9.49 +0.34 ... 78.78 55.78 RegencyCtrs REG 4.2 21 58.99 –3.29 .625
6.33 1.31 LexiconPharm LXRX ... dd 2.63 –0.27 ... 0.20 0.06 MetalSkyStarRt MSSAR ... ... .07 ... ... 42.69 13.44 Nutanix NTNX ... dd 23.12 +0.04 ... 23.04 3.02 Personalis PSNL ... dd 3.53 +0.10 ... 754.67 538.01 RegenPharm REGN ... 14 710.30 –14.02 ...
6.48 1.67 LexinFintech LX ... 2 1.85 –0.07 ... 56.79 32.53 Methanex MEOH 2.1 5 32.98 –3.52 .175 38.17 7.09 Nuvalent NUVL ... dd 17.68 +0.09 ... 26.21 12.88 PetcoHealth WOOF ... 32 14.41 –1.09 ... 10.08 9.94 RelativityAcqnA RACY ... 65 10.06 +0.05 ...
41.49 16.86 LiAuto LI ... dd 24.09 –2.24 ... 29.82 18.61 MetroCityBkshs MCBS 3.0 7 19.96 –0.12 .15 64.43 41.33 Nuvasive NUVA ... dd 46.84 +0.19 ... 27.09 8.60 PetIQ PETQ ... dd 9.74 –1.36 ... 38.15 12.65 RelayTherap RLAY ... dd 23.42 –5.59 ...
16.37 2.10 LianBio LIAN ... dd 2.29 –0.33 ... 90.00 54.33 MicrochipTech MCHP 1.8 24 65.70 –1.26 .301 140.23 27.93 Nuvei NVEI ... 61 31.53 –0.46 ... 32.67 19.09 PetMedExpress PETS 5.7 22 21.11 +0.01 .30 34.48 15.74 RelmadaTherap RLMD ... dd 34.07 +2.18 ...
177.20 90.24 LibertyBroadbandA LBRDA ... 11 91.55 –6.62 ... 98.45 51.40 MicronTech MU .8 6 52.85 –4.59 .115 346.47 126.17 NVIDIA NVDA .1 43 131.98 –11.89 .04 12.98 6.10 Pharming PHAR ... 38 11.16 –1.24 ... 53.65 6.66 RemitlyGlobal RELY ... dd 10.88 –0.87 ...
179.49 90.43 LibertyBroadbandC LBRDK ... 11 91.33 –7.60 ... 349.67 241.51 Microsoft MSFT 1.0 25 244.74 –19.72 .62 31.62 7.00 Nyxoah NYXH ... ... 7.00 –0.55 ... 27.50 8.55 Pharvaris PHVS ... ... 9.12 –0.20 ... 27.83 1.37 Renalytix RNLX ... dd 1.44 –0.28 ...
30.58 18.12 LibertyGlobal A LBTYA ... 2 18.12 –1.47 ... 891.38 134.09 MicroStrategy MSTR ... dd 206.34 –55.63 ... O 4.10 0.50 PhaseBioPharm PHAS ... dd 1.00 –0.10 ... 40.79 27.61 Renasant RNST 2.6 13 33.59 +0.10 .22
30.85 18.25 LibertyGlobal B LBTYB ... 2 18.25 –1.13 ... 11.29 2.00 Microvast MVST ... dd 2.24 –0.29 ... 36.09 6.10 PhathomPharm PHAT ... dd 10.38 +1.10 ... 10.00 1.92 ReneoPharm RPHM ... dd 4.16 +0.24 ...
30.49 19.18 LibertyGlobal C LBTYK ... 3 19.25 –1.44 ... 12.86 2.50 MicroVision MVIS ... dd 4.16 –0.35 ... 48.00 28.85 ODP ODP ... dd 36.37 –0.22 ... 43.50 32.61 Phenixfin PFX .0 dd 36.76 –0.25 .121 12.30 5.06 ReNewEnergy RNW ... dd 6.99 –0.14 ...
14.03 6.35 LibertyLatAmA LILA ... dd 6.78 –0.19 ... 33.89 24.81 MidPennBancorp MPB 2.7 12 29.74 +0.35 .20 14.86 9.71 OP Bancorp OPBK 4.2 5 11.36 –0.14 .12 22.96 13.94 PhibroAnimal PAHC 3.3 12 14.47 –0.62 .12 63.20 18.88 Rent-A-Center RCII 5.6 34 24.15 –2.25 .34
13.88 6.34 LibertyLatAmC LILAK ... dd 6.78 –0.17 ... 13.99 10.01 MidCapFin MFIC 10.2 14 12.57 –0.44 .32 5.25 1.96 OPKO Health OPK ... dd 2.05 –0.16 ... 36.35 28.82 PhillipsEdison PECO 3.5 cc 31.86 –1.89.0933 24.77 2.65 RenttheRunway RENT ... dd 2.90 –1.58 ...
64.70 44.19 LibertyFormOne A FWONA ... dd 56.76 –2.74 ... 201.34 120.30 Middleby MIDD ... 16 134.24 –16.57 ... 9.93 9.70 OPYAcqnIA OHAA ... dd 9.88 ... ... 11.76 9.71 PhoenixBiotech PBAX ... dd 10.07 +0.01 ... 32.31 8.07 RepareTherap RPTX ... dd 12.52 –0.23 ...
71.17 48.51 LibertyFormOne C FWONK ... dd 62.76 –2.71 ... 121.43 75.77 MiddlesexWater MSEX 1.3 40 89.07 +0.69 .29 750.88 562.90 OReillyAuto ORLY ... 22 693.51 –27.51 ... 25.81 12.18 Photronics PLAB ... 9 15.54 –0.36 ... 327.32 137.21 Repligen RGEN ... 80 221.32 –12.25 ...
32.69 24.50 LibertyBraves A BATRA ... 59 29.56 –0.23 ... 30.60 22.50 MidlandStBncp MSBI 4.6 7 24.96 –0.46 .29 103.17 75.67 OSI Systems OSIS ... 12 77.54 –1.73 ... 34.66 20.23 PilgrimPride PPC ... 8 25.40 –2.17 ... 35.93 13.05 Replimune REPL ... dd 16.48 –1.88 ...
31.27 23.34 LibertyBraves C BATRK ... 57 28.47 –0.24 ... 34.65 27.44 MidWestOneFin MOFG 3.1 8 30.31 –0.23.2375 6.75 2.85 O2MicroIntl OIIM ... 3 3.03 –0.22 ... 104.30 23.21 Pinduoduo PDD ... 31 65.67 –4.09 ... 57.62 39.71 RepublicBcpKYA RBCAA 3.4 8 39.91 –1.39 .341
56.26 34.40 LibertySirius A LSXMA ... 15 40.71 –1.86 ... 9.70 3.98 MilestonePharm MIST ... dd 8.99 +0.28 ... 7.81 6.20 OaktreeSpec OCSL 9.9 22 6.59 –0.34 .17 111.31 67.86 PinnacleFinPtrs PNFP 1.1 12 82.13 –0.79 .22 5.67 2.58 RepublicFirstBncp FRBK ... 10 3.10 +0.34 ...

.
58.13 36.50 LibertySirius B LSXMB ... 15 40.64 –1.85 ... 42.84 23.72 MillerKnoll MLKN 3.1 dd 23.83 –3.49.1875 17.16 2.75 Oatly OTLY ... dd 2.99 –0.28 ... 7.10 0.74 PintecTech PT ... dd .76 –0.14 ... 10.84 5.33 ReservoirMedia RSVR ... 26 6.08 –0.98 ...
56.19 34.34 LibertySirius C LSXMK ... 15 40.40 –1.93 ... 37.25 12.19 MillicomIntl TIGO ... 2 12.46 –0.70 ... 3.35 0.16 ObsEva OBSV ... dd .16 –0.01 ... 5.95 1.68 Pixelworks PXLW ... dd 1.71 –0.15 ... 23.18 14.38 ResourcesConnect RGP 3.0 9 18.96 –0.54 .14

ly
10.10 9.78 LibertyRscsA LIBY ... dd 10.02 +0.01 ... 3.41 2.20 Mind CTI MNDO 11.2 8 2.33 ... .26 24.25 18.24 OceanFirstFin OCFC 4.0 12 20.00 +0.36 .20 12.57 8.64 PlainsAllAmPipe PAA 7.3 14 11.85 –0.10.2175 20.09 15.07 RetailOppor ROIC 3.7 37 16.03 –1.18 .15
93.67 8.43 LibertyTripAdvB LTRPB ... 14 29.00 –7.43 ... 10.37 1.01 MinervaSurgical UTRS ... dd 1.01 –0.39 ... 12.50 2.91 OcularTherapeutix OCUL ... dd 5.87 –0.11 ... 13.02 9.24 PlainsGP PAGP 7.1 21 12.31 –0.21.2175 31.40 2.46 ReunionNeuro REUN .0 dd 2.46 –0.42 .017
3.78 0.61 LibertyTripAdvA LTRPA ... 1 1.33 –0.08 ... 195.99 32.96 MiratiTherap MRTX ... dd 79.57 –5.20 ... 28.49 16.96 OfficePropIncm OPI 12.6 dd 17.48 –0.54 .55 9.81 6.00 PlayaHotels PLYA ... 17 6.17 –0.32 ... 30.00 11.27 RevanceTherap RVNC ... dd 25.94 –2.53 ...
7.58 1.80 LifeMD LFMD ... dd 2.30 –0.27 ... 30.55 12.82 MirumPharm MIRM ... dd 23.48 –1.67 ... 32.49 26.29 OhioValleyBanc OVBC 2.8 13 30.30 +1.95 .21 6.60 3.24 Playstudios MYPS ... dd 3.39 –0.19 ... 10.35 9.70 RevelstoneCapA RCAC ... ... 9.89 +0.05 ...
16.25 4.77 LifeStanceHealth LFST ... dd 8.65 –0.58 ... 5.50 0.09 Missfresh MF ... dd .11 –0.01 ... 272.27 58.12 Okta OKTA ... dd 59.01 –5.69 ... 30.00 9.95 Playtika PLTK ... 14 10.09 –1.41 ... 34.16 14.08 RevolutionMed RVMD ... dd 20.22 –1.40 ...
19.60 7.93 LifetimeBrands LCUT 2.0 21 8.35 –0.14.0425 20.79 11.04 MissionProduce AVO ... 45 15.47 –0.11 ... 30.41 11.40 Olaplex OLPX ... 29 11.67 –0.89 ... 99.12 72.88 Plexus PLXS ... 21 89.96 –3.19 ... 32.29 24.54 ReynoldsCnsmr REYN 3.3 21 27.80 –0.55 .23
9.00 4.55 LifewayFoods LWAY ... 86 5.96 –0.22 ... 458.50 115.61 Moderna MRNA ... 4 137.74 –4.54 ... 373.58 231.31 OldDomFreight ODFL .5 24 254.03 –14.76 .30 24.81 3.97 PliantTherap PLRX ... dd 22.45 +0.22 ... 30.98 3.04 RhythmPharm RYTM ... dd 24.23 +0.93 ...

on
169.98 72.57 LigandPharm LGND ... dd 87.85 –8.25 ... 191.24 80.55 ModivCare MODV ... dd 108.57 –3.00 ... 20.81 14.22 OldNatlBncp ONB 3.3 17 16.94 –0.08 .14 8.57 1.06 PolyPid PYPD ... dd 1.24 +0.16 ... 6.50 2.57 RibbonComms RBBN ... dd 2.91 –0.32 ...
90.20 41.48 Light&Wonder LNW ... dd 48.72 –2.02 ... 32.04 5.50 MolecularPtrs MOLN ... 2 6.39 +0.33 ... 15.68 11.73 Old2ndBcp OSBC 1.5 25 13.69 –0.03 .05 11.29 9.05 PonceFinl PDLB ... 18 9.55 +0.15 ... 18.11 8.90 RichardsonElec RELL 1.6 11 14.77 –1.23 .06
11.66 2.05 Lilium LILM ... ... 2.20 –0.08 ... 8.29 0.65 MolecularTemp MTEM ... dd .74 –0.10 ... 32.19 2.00 OlemaPharm OLMA ... dd 3.77 –0.45 ... 582.27 322.88 Pool POOL 1.2 17 331.63 –24.33 1.00 3.96 0.64 RigelPharm RIGL ... dd 1.24 –0.19 ...
16.71 10.44 Limoneira LMNR 2.3 dd 13.10 –0.26 .075 25.00 6.51 Momentive MNTV ... dd 7.00 –0.26 ... 35.00 8.39 OlinkHolding OLK ... dd 14.94 –0.56 ... 4.33 0.72 PopCulture CPOP ... 11 1.15 –0.07 ... 11.52 4.19 RiminiStreet RMNI ... 7 4.91 –0.03 ...
8.20 4.94 LincolnEduc LINC ... 7 6.05 –0.69 ... 12.80 1.50 Momentus MNTS ... dd 1.57 –0.17 ... 75.27 37.67 Ollie'sBargain OLLI ... 39 57.71 –0.59 ... 99.49 70.00 Popular BPOP 2.8 7 78.18 –1.90 .55 8.22 6.08 RiverviewBncp RVSB 3.6 7 6.65 –0.20 .06
148.54 118.17 LincolnElectric LECO ... 22 134.03 –5.74 ... 94.26 54.01 MonarchCasino MCRI ... 14 59.02 –2.65 ... 43.18 19.92 OlympicSteel ZEUS 1.4 2 25.04 –2.17 .09 57.73 14.84 Portillo's PTLO ... dd 23.04 –0.81 ... 179.47 19.25 Rivian RIVN ... dd 39.26 +1.71 ...
11.06 9.79 LionheartIII A LION ... dd 10.07 +0.02 ... 450.00 85.75 monday.com MNDY ... dd 133.27 +2.93 ... 161.39 97.16 OmegaFlex OFLX 1.2 44 106.70 –4.41 .32 25.97 21.33 PortmanRidge PTMN11.4 65 22.03 –0.43 .63 47.84 6.81 Robinhood HOOD ... dd 10.25 –0.35 ...
28.73 11.39 LiquiditySvcs LQDT ... 9 16.40 +0.60 ... 16.98 6.80 Mondee MOND ... dd 10.60 –2.47 ... 31.41 1.98 OmegaTherap OMGA ... dd 5.87 –0.14 ... 8.34 1.82 PoseidaTherap PSTX ... dd 3.55 –0.14 ... 36.87 7.57 RocketPharm RCKT ... dd 13.99 –2.03 ...
334.84 209.86 Littelfuse LFUS 1.1 15 211.66 –19.89 .60 69.47 57.63 Mondelez MDLZ 2.6 22 60.30 –1.03 .385 16.30 1.86 Omeros OMER ... dd 3.51 –1.84 ... 27.34 8.97 Poshmark POSH ... dd 13.86 +0.93 ... 56.96 23.50 RockyBrands RCKY 2.6 9 24.22 –2.90 .155

us ,
93.89 53.28 LivaNova LIVN ... dd 54.99 –2.73 ... 10.87 5.06 MoneyGram MGI ... dd 10.40 –0.05 ... 187.29 94.78 Omnicell OMCL ... 76 95.27 –10.08 ... 7.22 4.83 Potbelly PBPB ... dd 5.05 –0.60 ... 10.36 5.48 RockyMtnChoc RMCF ... dd 6.51 +0.11 ...
99.89 30.24 LiveOakBcshs LOB .3 8 34.99 –0.62 .03 590.00 213.39 MongoDB MDB ... dd 220.58 –48.06 ... 10.07 9.84 OmniLitAcqnA OLIT ... dd 10.05 –0.01 ... 61.51 43.30 PotlatchDelt PCH 4.0 8 43.54 –4.03 .44 16.76 2.52 RoivantSciences ROIV ... dd 3.25 –0.36 ...

l
68.82 10.27 LivePerson LPSN ... dd 11.01 –1.30 ... 580.00 348.02 MonolithicPower MPWR .7 60 417.96 –29.24 .75 76.78 41.88 ON Semi ON ... 18 68.94 –2.73 ... 31.81 18.81 PowellIndustries POWL 4.5 33 22.97 –0.54 .26 350.60 62.00 Roku ROKU ... dd 71.35 –0.20 ...
7.06 1.40 LiveVox LVOX ... dd 2.44 +0.28 ... 64.72 37.49 Monro MNRO 2.5 26 44.88 –2.16 .28 4.28 0.68 Oncocyte OCX ... dd .89 +0.02 ... 10.47 9.70 Pwr&Digital II A XPDB ... dd 9.83 –0.03 ... 118.08 9.60 Root ROOT ... dd 9.60 –2.10 ...

e
99.81 71.78 MonsterBev MNST ... 38 87.24 –5.19 ... 11.81 0.98 Oncorus ONCR ... dd 1.13 –0.12 ... 10.61 9.77 RoseHillAcqn ROSE ... 24 10.14 +0.01 ...

al a
10.20 1.82 LixiangEduc LXEH ... ... 3.63 +0.53 ... 110.43 65.69 PowerIntegrations POWI 1.0 22 68.86 –1.34 .18
3.81 0.84 Lizhi LIZI ... 45 .86 –0.03 ... 34.26 6.05 MonteRosaTherap GLUE ... dd 7.17 –1.89 ... 35.72 5.95 1-800-FLOWERS FLWS ... 14 6.10 –0.73 ... 7.24 2.06 PowerFleet PWFL ... dd 3.14 +0.07 ... 123.36 69.24 RossStores ROST 1.4 21 90.25 –3.26 .31
26.50 14.43 LoganRidgeFin LRFC ... dd 19.98 +0.01 ... 10.10 9.85 MontereyBioAcqn MTRY ... dd 10.09 +0.01 ... 7.90 5.83 180DegreeCap TURN ... dd 5.94 –0.10 ... 10.50 9.94 PowerUpAcqn PWUP ... ... 10.10 +0.01 ... 10.64 9.67 RothCHAcqnV ROCL ... dd 9.93 ... ...
5.15 0.34 LogicBioTherap LOGC ... dd .37 ... ... 10.16 9.80 MontereyCapA MCAC ... ... 9.86 –0.02 ... 25.47 5.94 1LifeHealthcare ONEM ... dd 17.15 +0.14 ... 23.56 1.63 PraxisPrecision PRAX ... dd 2.65 –0.76 ... 15.36 3.60 Rover ROVR ... dd 3.96 –0.17 ...
9.85 9.61 LogisticsInnovA LITT ... 30 9.76 ... ... 0.22 0.09 MontereyCapRt MCACR ... ... .09 ... ... 6.50 1.37 111 YI ... dd 3.05 –0.23 ... 5.66 1.12 Precigen PGEN ... dd 2.72 –0.05 ... 147.70 88.64 RoyalGold RGLD 1.5 22 93.26 –2.79 .35
350.21 218.25 Morningstar MORN .6 54 224.56 –20.60 .36 19.00 4.77 1stdibs.com DIBS ... dd 6.61 +0.81 ... 44.75 34.86 RoyaltyPharma RPRX 1.8 39 41.95 –1.68 .19

ci on
100.78 46.45 LogitechIntl LOGI 1.9 15 48.84 –1.73.9781 13.49 1.11 PrecisionBio DTIL ... dd 1.52 –0.13 ...
9.82 2.84 LongboardPharm LBPH ... dd 4.16 –0.44 ... 68.75 19.23 Morphic MORF ... dd 28.51 –1.05 ... 62.79 29.86 OneWaterMarine ONEW ... 4 35.43 –0.85 ... 81.97 60.25 PreferredBankLA PFBC 2.5 10 68.64 –0.23 .43 20.99 0.56 RubiusTherap RUBY ... dd .57 –0.55 ...
17.94 3.61 LoopIndustries LOOP ... dd 5.34 +0.43 ... 12.64 4.07 MorphoSys MOR ... dd 5.22 +0.52 ... 14.79 0.60 Ontrak OTRK ... dd .63 –0.06 ... 87.19 54.97 PreformedLine PLPC 1.0 8 76.34 –2.98 .20 14.92 10.76 RunwayGrowthFin RWAY11.0 14 12.00 ... .33
8.93 1.49 LordstownMotors RIDE ... dd 2.04 +0.03 ... 21.10 12.59 MotorcarParts MPAA ... 45 14.35 –0.09 ... 10.50 9.81 OnyxAcqnIA ONYX ... dd 10.11 ... ... 36.95 3.87 PreludeTherap PRLD ... dd 6.94 –0.81 ... 60.89 41.66 RushEnt A RUSHA 1.9 8 44.55 –3.98 .21
17.50 0.25 Lottery.com LTRY ... dd .29 –0.03 ... 10.10 9.84 MountRainier RNER ... dd 10.09 ... ... 40.65 9.03 OpenLending LPRO ... 12 9.54 –0.91 ... 34.00 24.35 PremierFinl PFC 4.6 9 26.06 –0.89 .30 60.01 41.80 RushEnt B RUSHB 1.7 8 49.23 –3.56 .21
87.12 23.77 Lovesac LOVE ... 9 25.11 –3.32 ... 10.60 9.96 MountainI A MCAA ... dd 10.21 +0.01 ... 52.70 28.57 OpenText OTEX 3.4 20 28.64 –2.12 .243 42.15 34.17 Premier PINC 2.4 16 34.80 –1.03 .21 24.93 15.16 RuthsHospitality RUTH 3.1 15 17.92 –0.61 .14
98.95 1.75 LoyaltyVentures LYLT ... dd 1.80 –0.41 ... 9.96 9.71 MountainCrestV MCAG ... dd 9.93 ... ... 25.33 3.95 OpendoorTech OPEN ... dd 4.06 –0.82 ... 8.75 3.39 Prenetics PRE ... dd 3.63 –0.63 ... 16.99 8.80 RxSight RXST ... dd 12.97 –1.16 ...
13.52 1.69 LucidDiag LUCD ... dd 1.85 –0.42 ... 10.55 9.93 MurphyCanyonA MURF ... ... 10.09 +0.02 ... 9.87 4.05 Opera OPRA ... dd 4.44 –0.57 ... 88.30 60.73 PriceSmart PSMT 1.4 19 62.23 –0.90 .43 127.25 65.07 Ryanair RYAAY ... 63 68.01 –6.24 ...
57.75 13.25 Lucid LCID ... dd 16.18 +1.10 ... 2.90 0.51 MustangBio MBIO ... dd .56 –0.06 ... 27.95 4.79 OportunFin OPRT ... 2 5.46 –0.39 ... 10.00 9.88 PrimeNumberI A PNAC ... ... 9.92 –0.06 ... S
9.63 1.36 LuciraHealth LHDX ... dd 1.43 –0.37 ... 22.00 6.23 Mynaric MYNA ... dd 6.35 –1.11 ... 8.50 4.73 Opthea OPT ... ... 5.98 –0.17 ... 0.14 0.08 PrimeNumberI Rt PNACR ... ... .09 ... ...
21.29 5.10 Lulu'sFashion LVLU ... dd 5.44 –1.03 ... 35.31 16.02 MyriadGenetics MYGN ... dd 21.37 –1.43 ... 6.85 3.26 OpticalCable OCC ... dd 3.99 –0.17 ... 16.54 12.50 PrimisFinl FRST 3.1 15 12.75 –0.09 .10 34.20 26.51 S&T Bancorp STBA 3.9 11 30.96 +0.83 .30

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485.83 251.51 lululemon LULU ... 39 333.24 –15.41 ... N 4.30 1.46 Optinose OPTN ... dd 3.83 +0.08 ... 29.38 19.00 PrimorisSvcs PRIM 1.2 9 19.67 –0.50 .06 391.15 286.41 SBA Comm SBAC .9 97 311.75 –19.02 .71
108.90 73.97 Lumentum LITE ... 28 74.99 –6.23 ... 35.57 21.32 OptionCare OPCH ... 33 32.17 –1.01 ... 80.36 60.97 PrincipalFin PFG 3.3 5 77.01 –1.28 .64 8.10 1.70 SCYNEXIS SCYX ... dd 2.91 +0.37 ...
23.90 5.61 LuminarTech LAZR ... dd 8.93 –0.57 ... 31.30 15.39 Napco Security NSSC ... 57 30.40 –0.63 ... 13.57 2.62 OraSureTechs OSUR ... dd 4.06 –0.09 ... 44.64 17.99 PriviaHealth PRVA ... dd 39.88 –1.39 ... 65.22 51.07 SEI Investments SEIC 1.5 13 53.63 –2.96 .40
To reprint or license content, please contact Barron's reprints department at 800-843-0008 or www.djreprints.com

11.09 1.17 LumiraDx LMDX ... dd 1.37 –0.28 ... 42.63 33.02 NBT Bancorp NBTB 3.0 11 39.45 +0.55 .30 2.55 0.90 OrganiGram OGI ... dd 1.00 –0.06 ... 11.98 5.86 Procaps PROC ... dd 6.97 –0.33 ... 10.10 9.93 ShuaaPtrsI A SHUA ... ... 10.09 +0.02 ...
24.14 10.49 NGM Biopharm NGM ... dd 15.00 –1.25 ... 26.70 2.62 OricPharm ORIC ... dd 3.59 +0.14 ... 25.00 11.89 SI-BONE SIBN ... dd 18.57 +1.20 ...
11.32
15.37
15.50
6.15
12.22
3.57
LumosPharma
LutherBurbank
LyellImmuno
LUMO
LBC
LYEL
...
3.8
...
dd
dd
7
8.71
12.63
7.19
–0.03 ...
–0.19 .12
–0.40 ...
319.88
27.25
179.13
15.33
NICE
m er
NMI Holdings
NICE ...
NMIH ...
60
7
200.04
21.13
–12.39 ...
+0.81 ...
47.58
40.71
36.80
19.32
OriginBancorp
OrthofixIntl
OBNK 1.5
OFIX ...
10
dd
40.31
21.60
–1.14 .15
+0.17 ...
31.25
23.62
53.99
17.86
13.18
41.68
ProfessionalHldg
ProFrac
ProgressSoftware
PFHD ...
PFHC ...
PRGS 1.6
20
dd
20
27.51
18.91
42.88
+0.16 ...
–0.91 ...
–4.27 .175
26.99
12.50
5.84
9.88
SIGA Tech
SKGrowthOppsA
SIGA .0
SKGR ...
12
...
11.82
10.00
–2.03 .45
+0.05 ...
6.13 2.02 NN NNBR ... dd 2.37 +0.13 ... 73.91 36.71 OrthoPediatrics KIDS ... dd 49.06 –2.93 ... 20.88 14.35 SLM SLM 2.9 5 15.29 –0.51 .11
57.68 11.96 Lyft LYFT ... dd 16.27 –1.84 ... 13.49 0.49 NRX Pharm NRXP ... dd .73 +0.03 ... 6.99 0.35 OtonomoTech OTMO ... ... .37 –0.02 ... 68.32 25.67 Progyny PGNY ... 89 40.73 –2.35 ... 20.05 13.74 SLR Invt SLRC10.9 72 15.04 –0.27.1367
9.98 3.30 LyraTherap LYRA ... dd 6.23 +0.08 ... 239.91 140.33 NXP Semi NXPI 2.1 17 159.94 –8.20 .845 2.59 0.24 Otonomy OTIC ... dd .31 –0.05 ... 9.96 9.23 ProjectEnReimag PEGR ... 21 9.84 +0.01 ... 37.25 15.10 SMART Global SGH ... cc 17.45 –0.67 ...
M 13.95 3.57 NanoLabs NA ... ... 5.56 +1.52 ... 82.46 54.14 OtterTail OTTR 2.4 11 69.80 –5.48.4125 59.74 21.50 PrometheusBio RXDX ... dd 55.47 +0.28 ... 7.69 1.51 SPI Energy SPI ... dd 1.65 –0.13 ...
28.60 8.23 NanoXImaging NNOX ... dd 12.45 +0.32 ... 17.74 3.52 Outbrain OB ... dd 3.61 –0.65 ... 9.09 0.53 ProQR Therap PRQR ... dd .75 –0.04 ... 37.17 25.29 SP Plus SP ... 15 32.02 –0.98 ...
80.30 42.85 Macom Tech MTSI ... 18 54.18 –2.93 ... 13.37 2.32 Nanobiotix NBTX ... dd 4.38 +0.18 ... 9.06 6.66 ProspectCapital PSEC 9.8 6 7.35 –0.17 .06 174.42 96.41 SPS Commerce SPSC ... 96 123.08 –2.19 ...
14.70 9.85 MeliKaszek MEKA ... dd 9.94 –0.05 ... 60.33 13.25 OutsetMedical OM ... dd 17.87 –0.87 ...
38.11 6.91 ProtagonistTherap PTGX ... dd 8.36 –0.48 ...
m rp
86.27 69.23 MGE Energy MGEE 2.1 26 75.94 –2.29.4075 57.87 11.12 NanoStringTech NSTG ... dd 13.86 –2.10 ... 111.28 24.69 Overstock OSTK ... 16 26.49 –2.24 ... 6.50 1.75 SRAX SRAX ... dd 2.43 –0.09 ...
1.91 0.40 NantHealth NH ... dd .49 +0.03 ... 3.78 1.65 OvidTherap OVID ... dd 2.08 –0.10 ... 7.97 2.72 ProtaraTherap TARA ... dd 3.66 –0.16 ... 84.85 52.20 SS&C Tech SSNC 1.5 20 53.05 –4.25 .20
117.01 61.09 MGP Ingredients MGPI .4 21 111.67 –2.05 .12 71.65 46.77 Nasdaq NDAQ 1.3 27 61.01 –2.25 .20 13.22 4.26 Proterra PTRA ... dd 5.69 –0.48 ... 24.58 12.92 SSR Mining SSRM 1.9 10 13.73 –0.49 .07
1.96 0.68 MindTech MIND ... dd .79 +0.05 ... 8.53 5.49 OxfordLane OXLC15.6 5 5.77 –0.36 .075
129.09 26.10 Natera NTRA ... dd 48.55 –4.37 ... 4.47 3.45 OxfordSquare OXSQ 11.7 dd 3.58 –0.19 .035 79.75 21.06 Prothena PRTA ... dd 29.44 +0.39 ... 763.22 354.74 SVB Fin SIVB ... 14 362.42 –60.55 ...
181.03 87.67 MKS Instrum MKSI 1.0 9 89.11 –11.18 .22 69.00 45.50 Nathan's NATH 2.7 18 66.10 +1.87 .45 19.98 3.46 OysterPtPharma OYST ... dd 6.74 –0.46 ... 8.04 3.19 ProventionBio PRVB ... dd 5.05 –0.23 ... 16.60 11.44 SabraHealthcare SBRA 8.6 74 13.92 –0.99 .30
11.70 0.94 MSP Recovery MSPR ... dd 1.39 –0.12 ... 64.67 38.10 NationalBeverage FIZZ .0 28 42.21 –4.72 3.00 17.37 13.76 ProvidentFin PROV 3.9 12 14.18 +0.08 .14 12.65 5.45 Sabre SABR ... dd 6.44 –0.24 ...
121.22 74.77 MYR Group MYRG ... 18 89.11 –2.90 ... 3.97 0.88 NatlCineMedia NCMI12.6 dd .95 –0.12 .03 PQ 43.65 14.73 PubMatic PUBM ... 18 17.00 –2.04 ... 99.75 76.50 SafetyInsurance SAFT 4.2 17 85.67 –3.02 .90
10.28 7.37 Macatawa MCBC 3.3 13 9.58 ... .08 45.98 29.81 NatlInstruments NATI 2.8 50 39.35 –1.17 .28 40.89 19.41 PAM Transport PTSI ... 7 30.79 –1.36 ... 45.49 13.79 Pulmonx LUNG ... dd 18.28 –2.07 ... 29.75 21.50 SagaComm SGA 3.1 13 25.82 –1.68 .20
For personal non-commercial use only. Do not edit or alter. Reproductions not permitted.

22.78 2.13 Macrogenics MGNX ... dd 3.45 –0.79 ... 52.36 30.93 NatlResearch NRC 2.4 28 39.89 +3.44 .24 7.29 5.14 P&FIndustries PFIN .0 dd 5.67 +0.24 .05 7.73 1.60 PumaBiotech PBYI ... dd 2.44 –0.30 ... 10.45 9.60 SagaliamAcqnA SAGA ... dd 9.99 ... ...
105.93 52.33 MadrigalPharm MDGL ... dd 69.31 +4.45 ... 65.92 22.59 NationalVision EYE ... 35 34.16 –2.65 ... 26.04 17.96 PCB Bancorp PCB 3.2 7 18.95 –0.09 .15 54.39 18.15 PureTechHealth PRTC ... dd 28.60 –0.45 ... 0.40 0.01 SagaliamAcqnRt SAGAR ... ... .07 –0.02 ...
8.49 0.92 MagentaTherap MGTA ... dd 1.68 –0.25 ... 236.97 177.74 NatlWesternLife NWLI .2 5 180.50 –7.55 .36 54.79 40.08 PCConnection CNXN .0 13 45.38 –2.73 1.00 23.13 2.65 PurpleInnovation PRPL ... dd 2.79 –0.30 ... 47.75 27.36 SageTherap SAGE ... dd 40.60 –1.40 ...
25.49 15.08 MagicSoftware MGIC 3.5 29 16.41 –0.39 .29
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16.00 8.42 NaturalAlt NAII ... 7 11.89 –0.03 ... 6.44 3.90 PCTEL PCTI 4.5 dd 4.94 –0.19 .055 8.50 4.10 Puyi PUYI ... dd 7.46 –0.19 ... 365.50 168.03 Saia SAIA ... 14 185.17 –17.11 ...
32.43 7.06 Magnite MGNI ... dd 7.15 –0.55 ... 7.17 1.98 NautilusBiotech NAUT ... dd 2.10 –0.17 ... 89.22 41.27 PDC Energy PDCE 2.2 5 62.40 –3.64 .35 19.00 1.96 PyxisOncology PYXS ... dd 2.21 –0.48 ... 6.82 1.89 SalemMedia SALM ... 1 1.95 –0.17 ...
13.23 10.80 MagyarBancorp MGYR .9 13 13.01 +0.25 .03 23.80 12.45 Navient NAVI 4.5 4 14.16 –0.37 .16 33.78 19.34 PDF Solutions PDFS ... dd 25.36 –0.93 ... 5.10 0.60 Q&K Intl QK ... dd 3.06 +0.10 ... 26.03 3.93 SanaBiotech SANA ... dd 6.52 –0.58 ...
36.28 20.06 MakeMyTrip MMYT ... dd 32.27 –0.23 ... 22.19 3.51 NavitasSemi NVTS ... dd 5.77 +0.01 ... 81.66 26.46 PENN Entmt PENN ... 26 30.56 –1.91 ... 62.85 49.25 QCR Holdings QCRH .4 9 53.77 –1.02 .06 52.04 36.84 SandySpringBncp SASR 3.5 9 39.25 +0.13 .34
78.10 48.31 MalibuBoats MBUU ... 7 53.05 –1.68 ... 79.43 23.94 nCino NCNO ... dd 35.24 –0.70 ... 43.25 3.91 PLBY Group PLBY ... dd 4.06 –0.49 ... 4.14 1.01 QilianIntl QLI ... 14 1.22 +0.03 ... 92.10 67.02 Sanfilippo JBSS 1.0 14 75.63 –2.84 1.50
18.10 15.12 MalvernBancorp MLVF ... dd 15.42 –0.33 ... 178.80 83.90 Qorvo QRVO ... 12 85.93 –7.60 ...
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9.48 6.66 NecessityRetail RTL 11.8 dd 7.19 ....2125 30.48 8.99 PMV Pharm PMVP ... dd 12.59 –1.03 ... 11.49 3.12 SangamoTherap SGMO ... dd 5.25 –0.45 ...
5.29 1.35 MammothEnergy TUSK ... dd 4.05 –0.60 ... 19.37 3.02 NektarTherap NKTR ... dd 3.47 –0.27 ... 51.00 34.22 PRA Group PRAA ... 10 35.73 –0.42 ... 193.58 118.23 Qualcomm QCOM 2.4 11 124.95 –7.10 .75 23.10 6.94 SangomaTechs SANG ... dd 6.94 –1.04 ...
10.12 9.75 ManaCapAcqn MAAQ ... dd 10.03 +0.01 ... 42.47 10.69 NeoGames NGMS ... dd 14.39 –1.04 ... 52.40 15.38 ProceptBio PRCT ... dd 41.78 –8.87 ... 48.93 10.88 QualtricsIntl XM ... dd 11.00 –1.32 ... 52.14 35.36 Sanmina SANM ... 12 47.27 –1.43 ...
0.43 0.10 ManaCapAcqnRt MAAQR ... ... .27 –0.02 ... 47.80 15.97 Neogen NEOG ... 36 16.11 –2.35 ... 136.00 96.55 PTC PTC ... 27 114.90 –5.07 ... 162.36 106.48 Qualys QLYS ... 58 148.60 –11.25 ... 58.10 39.49 Sanofi SNY 3.1 14 40.82 +0.02.2972
188.52 106.02 ManhattanAssoc MANH ... 74 137.74 –7.57 ... 8.48 0.80 NeoleukinTherap NLTX ... dd .95 –0.14 ... 54.89 25.01 PTC Therap PTCT ... dd 52.82 –0.82 ... 60.92 6.31 Quanterix QTRX ... dd 9.40 –0.70 ... 38.32 19.85 SapiensInt SPNS 3.4 21 20.36 –0.71 .47
43.10 15.49 Mannatech MTEX 4.4 6 18.23 –1.93 .20 34.44 7.07 NerdWallet NRDS ... dd 10.98 –0.28 ... 97.56 77.00 Paccar PCAR 1.7 13 85.14 –3.34 .37 7.45 1.34 Quantum QMCO ... dd 1.47 –0.24 ... 11.80 2.51 SarcosTech&Robotic STRC ... dd 2.83 –1.07 ...
5.44 2.49 MannKind MNKD ... dd 3.57 –0.31 ... 96.82 61.26 NetApp NTAP 2.9 16 68.68 –3.77 .50 31.10 3.85 PacBiosciCA PACB ... dd 6.02 –0.67 ... 9.37 2.22 Quantum-Si QSI ... dd 2.93 –0.37 ... 120.23 61.28 SareptaTherap SRPT ... dd 111.99 –6.45 ...
50.18 19.83 MaravaiLifeSci MRVI ... 12 23.30 +0.37 ... 118.19 68.62 NetEase NTES 1.6 19 82.71 –4.78 .36 45.25 27.92 PacificPremBncp PPBI 4.1 10 32.35 –0.42 .33 31.40 2.30 Quhuo QH ... dd 2.35 –0.40 ... 7.00 2.51 SatsumaPharm STSA ... dd 6.92 +0.51 ...
10.29 9.76 MarblegateAcqn GATE ... dd 9.92 ... ... 700.99 162.71 Netflix NFLX ... 21 240.13 +6.56 ... 82.16 45.05 PaciraBioSci PCRX ... 67 53.60 –2.15 ... 180.06 77.32 QuidelOrtho QDEL ... 3 81.78 –4.19 ... 1.91 1.02 Savara SVRA ... dd 1.50 +0.02 ...
3.63 1.23 Marchex MCHX ... dd 1.92 –0.14 ... 34.14 17.40 Netgear NTGR ... dd 22.21 –0.54 ... 15.53 8.71 PactivEvergreen PTVE 4.1 12 9.74 –1.36 .10 98.50 1.50 QuinceTherap QNCX ... dd 1.50 –0.21 ... 41.01 27.00 ScanSource SCSC ... 8 27.87 –1.05 ...
11.42 1.58 MarinSoftware MRIN ... dd 1.73 –0.04 ... 37.68 26.01 NetScout NTCT ... 60 32.61 +1.89 ... 51.81 24.90 PacWestBancorp PACW 4.0 6 25.21 –1.72 .25 18.89 8.28 QuinStreet QNST ... dd 11.23 –0.14 ... 59.70 29.79 SchnitzerSteel SCHN 2.4 5 31.03 –2.99.1875
13.15 3.97 MarinusPharma MRNS ... dd 6.80 +0.12 ... 109.26 71.88 Neurocrine NBIX ... cc 106.09 –0.42 ... 213.63 140.52 PaloAltoNtwks PANW ... dd 174.09 –14.17 ... 3.19 0.16 Quotient QTNT ... dd .21 +0.02 ... 42.54 4.33 ScholarRock SRRK ... dd 8.91 –0.27 ...
434.14 235.42 MarketAxess MKTX 1.1 39 252.10 –13.83 .70 6.84 1.98 Neuronetics STIM ... dd 2.86 –0.54 ... 97.18 44.01 Palomar PLMR ... 47 84.18 +0.34 ... 21.93 3.04 QurateRetailB QRTEB .0 31 8.80 –2.33 1.25 48.28 32.52 Scholastic SCHL 1.9 19 42.24 –2.97 .20
9.41 2.28 MarketWise MKTW ... dd 2.43 –0.21 ... 17.92 3.83 NeuroPace NPCE ... dd 3.96 –0.21 ... 30.56 14.40 PanAmerSilver PAAS 2.8 dd 15.75 –0.13 .12 11.47 2.09 QurateRetailA QRTEA .0 9 2.54 –0.50 1.25 62.56 20.71 Schrodinger SDGR ... dd 27.70 –0.35 ...
37.90 6.05 Marqeta MQ ... dd 7.26 –0.59 ... 63.06 19.17 NewFortressEner NFE .8 49 49.12 –8.03 .10 140.68 74.46 PapaJohn's PZZA 2.1 32 79.00 –5.50 .42 13.10 0.64 Qutoutiao QTT ... dd .87 –0.06 ... 16.80 9.67 SchultzeSpecII A SAMA ... dd 9.91 +0.01 ...
195.90 131.01 Marriott MAR .8 29 154.92 –7.44 .30 14.11 11.09 NewMtnFin NMFC 9.4 10 12.76 –0.62 .30 10.11 9.86 PapayaGrowthI A PPYA ... ... 9.99 +0.02 ... R 15.10 1.43 Science37 SNCE ... dd 1.85 –0.01 ...
23.43 14.72 MartenTransport MRTN 1.2 15 19.36 +0.22 .06 10.74 9.55 NewProvidenceII A NPAB ... dd 9.98 +0.04 ... 45.08 24.22 ParamountA PARAA 3.9 5 24.85 –1.72 .24 22.29 10.75 SciPlay SCPL ... 15 11.04 –0.40 ...
5.98 2.52 MartinMidstream MMLP .5 7 3.89 +0.02 .005 4.50 2.24 NY Mortgage NYMT14.2 dd 2.82 –0.03 .10 41.18 21.32 ParamountB PARA 4.2 4 22.73 –0.93 .24 40.74 9.86 RaptTherap RAPT ... dd 24.52 –1.66 ... 7.24 3.48 scPharm SCPH ... dd 4.48 –0.28 ...
93.85 41.07 MarvellTech MRVL .5 dd 46.35 –3.39 .06 10.55 9.87 NewcourtAcqnA NCAC ... 24 10.13 +0.01 ... 5.42 1.60 ParatekPharma PRTK ... dd 2.62 +0.11 ... 29.09 19.50 RBB Bancorp RBB 2.7 7 21.06 –0.23 .14 9.88 9.45 ScreamingEagleA SCRM ... ... 9.68 –0.02 ...
305.21 112.07 Masimo MASI ... 46 153.55 –2.70 ... 26.45 16.08 NewellBrands NWL 5.6 10 16.30 –1.86 .23 17.76 2.22 PardesBiosci PRDS ... dd 2.29 –0.68 ... 264.94 152.90 RBC Bearings ROLL ... cc 231.96 –24.27 ... 23.61 12.04 ScrippsEW SSP ... 10 14.17 –0.44 ...
29.69 20.02 MasterCraftBoat MCFT ... 7 21.55 +0.38 ... 94.33 46.49 RCI Hospitality RICK .3 17 68.28 +0.84 .05
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19.10 8.66 Newmark NMRK 1.2 6 10.26 –0.18 .03 26.91 9.23 Park-Ohio PKOH 3.5 dd 14.18 –2.04 .125 3.44 0.38 SeaChange SEAC ... dd .48 +0.04 ...
182.00 53.19 MatchGroup MTCH ... cc 55.37 –6.88 ... 25.87 14.95 NewsCorp A NWSA 1.2 16 16.53 –0.94 .10 10.52 9.84 ParsecCapA PCX ... dd 10.10 ... ... 28.82 5.22 RCM Tech RCMT ... 8 15.44 –1.32 ... 39.31 30.01 SeacoastBkgFL SBCF 2.1 17 31.89 +0.02 .17
27.55 10.99 Materialise MTLS ... 41 11.57 –1.10 ... 24.75 15.18 NewsCorp B NWS 1.2 16 16.91 –0.81 .10 9.27 3.92 PartnerComms PTNR ... 24 7.66 –0.53 ... 7.49 1.05 REE Automotive REE ... dd 1.22 +0.08 ... 117.67 61.54 Seagate STX 4.5 9 62.71 –6.12 .70
11.76 4.24 MatrixService MTRX ... dd 4.86 –0.88 ... 32.38 17.65 NewtekBusSvcs NEWT14.8 ... 20.98 –0.87 .65 12.10 1.51 PassageBio PASG ... dd 1.58 –0.23 ... 45.18 18.69 REGENXBIO RGNX ... 13 25.98 –2.89 ... 192.79 105.43 Seagen SGEN ... dd 142.03 –13.44 ...
26.99 17.95 Mattel MAT ... 7 20.90 –2.63 ... 18.78 0.66 NexImmune NEXI ... dd .66 –0.35 ... 65.96 31.16 PathwardFinl CASH .6 7 32.79 –1.30 .05 11.54 9.65 RF Acqn RFACU ... ... 10.00 –0.01 ... 10.14 9.72 SeaportCalibreMatl SCMA ... 30 10.02 ... ...
37.60 3.51 Matterport MTTR ... dd 4.05 –0.51 ... 204.62 139.69 NexstarMedia NXST 1.9 9 190.86 –4.51 .90 19.49 12.51 PatriaInvts PAX 4.9 15 13.65 –1.00 .169 9.94 9.80 RF Acqn A RFAC ... dd 9.91 +0.02 ... 11.00 9.67 SeaportGlblAcqnII SGII ... 29 9.98 –0.01 ...
39.76 23.59 MatthewsIntl MATW 3.6 dd 24.41 –0.81 .22 9.18 3.25 NextCure NXTC ... dd 3.87 +0.06 ... 10.60 9.95 PatriaLatAm PLAO ... ... 10.19 +0.05 ... 0.20 0.03 RF Acqn Rt RFACR ... ... .08 ... ... 16.75 5.54 SeaSpine SPNE ... dd 6.70 –0.31 ...
15.27 3.36 MaxCyte MXCT ... dd 5.44 –0.94 ... 21.87 13.64 NextGenHlthcr NXGN ... ... 16.68 –0.30 ... 88.79 46.44 PatrickIndustries PATK 2.8 3 47.83 –2.18 .33 8.71 5.48 RF Industries RFIL ... 36 6.35 –0.44 ... 26.89 8.57 SecureWorks SCWX ... dd 8.67 –1.93 ...
26.36 7.48 MaxeonSolar MAXN ... dd 25.60 +2.91 ... 12.50 6.97 NicholasFin NICK ... dd 6.97 –1.36 ... 18.00 9.25 PatriotNatBncp PNBK ... 9 11.50 –0.25 ... 25.00 18.01 RGC Resources RGCO 3.4 dd 22.61 +1.36 .195 9.49 6.50 SecurityNatFin SNFCA ... 6 6.59 –0.66 ...
no

77.89 30.17 MaxLinear MXL ... 27 34.53 –3.36 ... 15.56 4.42 Nikola NKLA ... dd 5.12 –0.30 ... 16.29 7.06 PatriotTransport PATI .0 4 7.72 –0.28 3.75 10.08 9.82 ROC Energy ROC ... dd 10.02 –0.03 ... 40.45 6.44 Seer SEER ... dd 8.47 –1.50 ...
10.50 9.85 MaxproCapA JMAC ... dd 10.11 +0.02 ... 2.05 0.20 9F JFU ... dd .34 –0.04 ... 35.29 25.03 Patterson PDCO 4.0 13 26.13 –1.01 .26 27.86 18.73 R1 RCM RCM ... cc 20.87 –1.40 ... 4.53 0.65 SelectaBiosci SELB ... 8 1.84 –0.01 ...
91.37 68.93 McGrathRent MGRC 2.2 21 84.13 –1.89 .455 39.34 12.60 908Devices MASS ... dd 16.78 –2.94 ... 20.53 6.71 PattersonUTIEn PTEN 1.1 dd 13.98 –1.01 .04 3.29 0.98 RVL Pharm RVLP ... dd 2.91 +0.43 ... 94.35 66.81 SelectiveIns SIGI 1.4 19 81.39 –0.92 .28
10.55 9.80 McLarenTechA MLAI ... dd 10.03 –0.01 ... 27.81 4.88 NiuTech NIU ... 21 4.98 –0.41 ... 141.92 106.55 Paychex PAYX 2.6 31 120.13 –6.70 .79 18.50 4.19 RackspaceTech RXT ... dd 5.33 +0.01 ... 9.55 0.91 Sema4 SMFR ... dd 1.05 –0.05 ...
10.05 3.50 MedallionFin MFIN 4.3 3 7.51 –0.58 .08 31.64 7.55 Nkarta NKTX ... dd 13.43 –1.18 ... 37.42 20.14 PaycorHCM PYCR ... dd 30.39 –0.85 ... 18.79 11.70 RadiusGlbInfr RADI ... dd 13.07 –1.10 ... 11.34 2.21 Semantix STIX ... 6 2.72 +0.32 ...
4.65 2.08 MediciNova MNOV ... dd 2.29 +0.08 ... 34.19 9.48 nLIGHT LASR ... dd 10.52 –1.77 ... 314.50 152.01 Paylocity PCTY ... cc 248.80 –9.65 ... 34.69 16.44 RadNet RDNT ... 48 20.04 –1.50 ... 10.38 9.75 SemperParatusA LGST ... cc 10.12 ... ...
4.01 1.21 MediWound MDWD ... dd 1.86 –0.04 ... 11.51 1.26 Nogin NOGN ... dd 1.35 –0.21 ... 10.12 3.33 Payoneer PAYO ... cc 6.11 –0.56 ... 42.19 20.51 Radware RDWR ... cc 22.41 –0.51 ... 94.92 29.52 Semtech SMTC ... 13 31.65 –3.17 ...
231.00 126.95 Medpace MEDP ... 26 150.87 –12.22 ... 13.44 4.25 Noodles NDLS ... dd 4.73 –0.33 ... 282.50 67.58 PayPal PYPL ... 54 94.00 –2.23 ... 17.31 2.15 RainTherap RAIN ... dd 6.33 +0.63 ... 63.56 41.54 SenecaFoods A SENEA ... 11 50.81 +0.85 ...
14.80 2.60 MeihuaIntlMed MHUA ... ... 5.15 +1.03 ... 272.28 194.89 Nordson NDSN 1.2 27 218.98 –15.30 .65 38.60 27.71 PeapackGladFinl PGC .6 10 34.33 –0.36 .05 21.00 5.90 Rallybio RLYB ... dd 13.88 +1.46 ... 64.13 44.00 SenecaFoods B SENEB ... 11 53.50 +4.75 ...
24.89 6.59 MeiraGTx MGTX ... dd 9.01 –0.24 ... 43.27 30.09 NortheastBank NBN .1 8 40.29 +1.50 .01 10.58 9.75 PearlHldgsAcqnA PRLH ... dd 9.97 –0.12 ... 21.73 8.72 RamacoRscs METC 5.1 4 8.85 –1.42.1134 11.92 1.45 SenseiBiotherap SNSE ... dd 1.80 –0.20 ...
12.40 4.06 MelcoResorts MLCO ... dd 5.81 +0.31 ... 18.00 9.05 NorthernTechsIntl NTIC 2.5 15 11.18 –0.35 .07 136.79 35.03 Pegasystems PEGA .3 dd 37.85 –2.18 .03 33.75 20.00 Rambus RMBS ... dd 25.29 –0.25 ... 5.58 1.77 SenstarTech SNT .0 6 1.95 +0.061.725
1913.77 600.68 MercadoLibre MELI ... cc 919.11 –51.88 ... 135.15 89.68 NorthernTrust NTRS 3.2 13 93.13 –5.97 .75 105.23 8.22 Peloton PTON ... dd 9.74 –0.57 ... 27.40 18.18 RandolphBancorp RNDB 2.3 34 26.62 +0.04 2.00 10.35 1.59 SentiBiosciences SNTI ... dd 1.60 –0.49 ...
40.01 29.11 MercantileBank MBWM 4.0 10 32.20 –0.30 .32 18.41 11.87 NorthfieldBanc NFBK 3.5 11 14.93 +0.23 .13 33.55 10.07 Pennant PNTG ... dd 15.45 +0.25 ... 53.59 19.28 RangerOil ROCC .8 8 37.20 –1.07 .075 11.41 1.15 SeraPrognostics SERA ... dd 1.66 –0.31 ...
10.50 9.60 MercatoPtrsA MPRA ... ... 10.01 –0.06 ... 47.34 38.42 NorthrimBanCorp NRIM 4.0 9 42.48 +1.15 .50 25.00 21.60 PennsWoodsBncp PWOD 5.4 10 23.87 +0.87 .32 36.27 8.00 RaniTherap RANI ... dd 8.87 –1.02 ... 11.69 2.50 SeresTherap MCRB ... dd 6.97 +0.52 ...
17.50 9.51 MercerIntl MERC 2.2 3 13.45 –0.81 .075 9.95 9.69 NorthViewAcqn NVAC ... 46 9.89 ... ... 34.63 25.63 PeoplesBncpOH PEBO 5.2 12 29.25 –1.02 .38 22.71 2.49 RapidMicro RPID ... dd 3.49 –0.13 ... 12.23 4.65 ServiceProperties SVC .6 dd 6.65 –0.33 .01
72.28 44.04 MercurySystems MRCY ... cc 46.50 –0.88 ... 0.25 0.07 NorthViewRt NVACR ... ... .08 ... ... 30.00 25.00 PeoplesBncpNC PEBK 2.8 11 25.83 +0.02 .18 145.00 49.00 Rapid7 RPD ... dd 49.41 –8.36 ... 10.08 9.80 7AcqnA SVNA ... 17 10.05 ... ...
2.73 0.30 MereoBioPharma MREO ... 7 1.06 –0.01 ... 15.22 12.04 NorthwestBcshs NWBI 5.6 14 14.26 +0.18 .20 59.99 43.34 PeoplesFinSvcs PFIS 3.2 8 49.51 –0.48 .40 12.75 4.56 RealGoodFood RGF ... dd 7.50 +0.77 ... 4.44 0.88 17Educ&Tech YQ ... dd 1.72 +0.13 ...
34.38 17.20 MeridianBiosci VIVO ... 33 32.14 +0.13 ... 34.94 23.11 NorthwestPipe NWPX ... 15 31.25 –2.75 ... 16.99 5.52 PepGen PEPG ... dd 5.63 –4.27 ... 17.09 1.90 RealReal REAL ... dd 2.14 –0.29 ... 9.20 1.38 Sharecare SHCR ... dd 1.67 –0.34 ...
39.78 26.73 Meridian MRBK 2.6 7 30.90 +0.25 .20 63.06 52.71 Northwestern NWE 4.7 16 53.66 –1.54 .63 15.00 9.60 PepperLimeA PEPL ... dd 9.97 +0.01 ... 114.80 18.47 ReataPharm RETA ... dd 27.50 +1.00 ... 21.42 2.59 ShattuckLabs STTK ... dd 2.92 –0.29 ...
73.81 50.46 MeritMedical MMSI ... 57 57.97 –3.48 ... 30.92 20.89 NortonLifeLock NLOK 2.4 15 21.26 –1.47 .125 181.07 149.48 PepsiCo PEP 2.8 25 166.97 –6.25 1.15 27.65 4.92 RecursionPharm RXRX ... dd 10.80 –2.47 ... 32.71 17.06 ShenandoahTel SHEN .4 1 18.95 –2.25 .07
7.41 3.66 MerrimackPharm MACK ... dd 4.18 –0.27 ... 29.00 23.00 NorwoodFin NWFL 4.0 8 28.01 +1.74 .28 10.16 9.82 PerceptionCapII PCCT ... dd 10.15 +0.01 ... 57.80 46.93 RedRiverBcshs RRBI .6 11 48.87 –2.10 .07 36.86 9.58 ShoalsTech SHLS ... cc 24.39 –2.17 ...
10.06 2.68 MersanaTherap MRSN ... dd 7.36 –0.44 ... 149.15 81.63 Nova NVMI ... 24 94.70 –5.82 ... 10.50 10.01 PerceptionCapII PCCTU ... ... 10.16 ... ... 25.82 6.91 RedRobin RRGB ... dd 7.64 –0.34 ... 314.90 113.36 ShockwaveMed SWAV ... cc 285.41 –1.73 ...
33.09 13.47 Merus MRUS ... dd 22.38 –1.06 ... 184.44 110.84 Novanta NOVT ... 71 125.97 –8.81 ... 13.89 9.65 PerdoceoEduc PRDO ... 7 10.70 –0.11 ... 58.74 30.98 RedRockResorts RRR 2.6 11 38.64 –2.03 .25 46.21 20.03 ShoeCarnival SCVL 1.6 5 22.35 –1.35 .09
9.18 2.00 MesaAir MESA ... dd 2.07 –0.27 ... 260.69 28.25 Novavax NVAX ... dd 30.41 –1.31 ... 14.45 5.47 PerellaWeinberg PWP 3.7 28 7.52 –0.08 .07 55.87 7.13 Redfin RDFN ... dd 7.38 –1.11 ... 23.19 16.92 ShoreBancshares SHBI 2.6 15 18.49 –0.04 .12
333.42 148.70 MesaLab MLAB .4 dd 153.61 –13.10 .16 132.38 56.39 Novocure NVCR ... dd 86.96 –1.93 ... 153.28 64.05 Perficient PRFT ... 32 66.49 –8.67 ... 6.50 0.62 RedHillBio RDHL ... dd .73 –0.16 ... 54.50 17.66 Shyft SHYF .9 18 21.78 –2.61 .05
 September 19, 2022 BARRON’S 49

D ATA NASDAQ ISSUES FOREIGN MARKETS

52-Week Tick Div 52-Week Tick Div 52-Week Tick Div 52-Week Tick Div 52-Week Tick Div
High Low Name Sym Yld P/E Last Chg. Amt. High Low Name Sym Yld P/E Last Chg. Amt. High Low Name Sym Yld P/E Last Chg. Amt. High Low Name Sym Yld P/E Last Chg. Amt. High Low Name Sym Yld P/E Last Chg. Amt.
6.14 0.56 Sientra SIEN ... dd .60 –0.04 ... 10.19 9.87 Talon1AcqnA TOAC ... 45 10.16 –0.03 ... 67.84 13.71 Valneva VALN ... ... 16.61 –0.63 ... 38.63 20.90 VirtuFinancial VIRT 4.4 7 21.94 –0.63 .24 277.99 183.94 Winmark WINA 1.3 20 218.96 –2.14 .70
28.92 20.25 SierraBancorp BSRR 4.4 9 20.69 –0.50 .23 155.86 42.90 TandemDiabetes TNDM ... dd 57.26 +1.28 ... 10.62 9.97 ValuenceI A VMCA ... ... 10.15 +0.02 ... 338.80 161.31 VirtusInvtPtrs VRTS 3.6 9 185.87 –11.22 1.65 105.56 72.10 WintrustFin WTFC 1.6 12 85.21 –2.54 .34
30.97 13.44 SierraWireless SWIR ... dd 30.74 –0.09 ... 8.66 4.17 TandyLeather TLF ... cc 4.30 –0.39 ... 21.44 9.24 VandaPharm VNDA ... 52 9.96 –0.33 ... 9.95 9.78 ViscogliosiBros VBOC ... dd 9.89 –0.01 ... 6.92 4.80 WisdomTreeInvs WETF 2.4 78 4.97 –0.32 .03
28.44 5.98 SightSciences SGHT ... dd 6.16 –1.29 ... 18.84 3.34 TangoTherap TNGX ... dd 3.50 –0.23 ... 32.65 18.90 VarexImaging VREX ... 37 22.44 +0.56 ... 140.44 88.82 Visteon VC ... 44 126.85 –0.38 ... 17.12 2.25 WISeKey WKEY ... dd 2.28 –0.16 ...
6.56 0.59 SigilonTherap SGTX ... dd .65 ... ... 8.25 1.46 TarenaIntl TEDU ... dd 6.26 –1.04 ... 69.61 24.58 VaronisSystems VRNS ... dd 26.82 –3.01 ... 18.61 7.51 VitaCoco COCO ... 57 13.26 –2.56 ... 215.22 53.12 Wix.com WIX ... dd 73.69 +2.99 ...
374.76 165.36 SignatureBank SBNY 1.3 9 171.91 –11.85 .56 10.04 9.73 TargetGlbl I A TGAA ... dd 10.03 ... ... 2.54 0.19 VascularBiogenics VBLT ... dd .20 –0.01 ... 20.17 7.89 VitalFarms VITL ... dd 11.82 –2.53 ... 129.12 87.44 Woodward WWD .8 35 90.00 –6.64 .19
26.84 7.80 SilenceTherap SLN ... dd 11.59 –0.67 ... 31.00 10.80 TarsusPharm TARS ... dd 14.80 –1.30 ... 6.53 2.20 VastaPlatform VSTA ... dd 5.52 +0.17 ... 18.79 11.30 Vitru VTRU ... 31 18.14 –0.06 ... 307.81 134.10 Workday WDAY ... dd 152.29 –17.67 ...
52.75 31.30 Silicom SILC ... 20 37.13 –2.53 ... 85.49 13.60 TaskUs TASK ... 34 17.34 –1.65 ... 29.73 16.78 Vaxcyte PCVX ... dd 26.13 –2.16 ... 14.35 7.02 VividSeats SEAT .0 cc 8.04 –0.90 .23 265.75 98.97 WorldAcceptance WRLD ... 26 114.49 –7.52 ...
211.98 113.48 SiliconLab SLAB ... dd 129.47 –0.03 ... 7.00 5.25 TatTechnologies TATT ... dd 6.27 –0.26 ... 22.77 1.51 Vaxxinity VAXX ... dd 2.14 –0.02 ... 19.05 12.34 Vodafone VOD 7.5 15 12.48 –0.22.4725 10.00 9.70 WorldwideWebbA WWAC ... 41 9.96 +0.01 ...
98.65 64.41 SiliconMotion SIMO 2.8 11 69.96 –3.98 .50 21.29 2.33 TayshaGene TSHA ... dd 2.83 –0.59 ... 8.15 2.74 VectivBio VECT ... dd 4.93 –0.12 ... 18.52 3.83 VorBiopharma VOR ... dd 4.71 –0.44 ... 99.00 50.20 WynnResorts WYNN ... dd 65.42 +2.64 ...
63.22 27.21 SilkRoadMed SILK ... dd 44.11 –0.15 ... 10.15 9.89 Tech&TelecomA TETE ... ... 10.14 +0.05 ... 32.40 17.23 VeecoInstr VECO ... 28 19.61 –1.29 ... 10.60 2.46 VoyagerTherap VYGR ... dd 6.57 –0.27 ... XYZ
15.40 7.70 SilverSpikeInvt SSIC ... dd 10.50 –0.05 ... 111.44 56.83 TechTarget TTGT ... cc 60.60 –5.06 ... 7.83 0.83 VelodyneLidar VLDR ... dd 1.13 –0.11 ... 25.30 1.03 Vroom VRM ... dd 1.65 –0.13 ...
13.43 2.80 SilverbackTherap SBTX ... dd 4.89 –0.30 ... 12.78 6.67 Ericsson ERIC 2.4 9 6.75 –0.69.0894 41.29 9.50 VentyxBiosciences VTYX ... dd 36.85 +13.75 ... 32.09 15.70 XOMA XOMA ... 59 18.00 +1.00 ...
22.68 14.52 SilvercrestAsset SAMG 4.0 8 18.11 –0.88 .18 48.35 8.82 Telesat TSAT ... ... 8.98 –2.18 ... W 46.98 16.97 XP XP ... 16 19.00 –1.22 ...
2.70 0.29 VenusConcept VERO ... dd .62 –0.08 ...
32.76 19.87 SimmonsFirstNat SFNC 3.2 12 23.62 –0.22 .19 33.87 6.54 Telos TLS ... dd 11.45 +0.55 ... 11.13 3.25 VeraBradley VRA ... dd 3.33 –0.19 ... 6.32 1.16 WaveLifeSci WVE ... dd 3.22 –0.01 ... 16.47 3.90 XBiotech XBIT ... dd 4.01 –0.12 ...
67.59 35.18 SimulationsPlus SLP .4 94 53.57 –6.29 .06 187.85 30.12 10xGenomics TXG ... dd 30.68 –5.22 ... 37.11 12.29 VeraTherap VERA ... dd 20.92 +0.92 ... 255.31 163.61 WD-40 WDFC 1.7 43 188.42 –2.16 .78 2.25 0.95 XcelBrands XELB ... dd 1.05 –0.04 ...
33.62 18.89 SinclairBroadcast SBGI 4.6 1 21.75 –0.56 .25 63.61 36.24 Tenable TENB ... dd 37.21 –4.47 ... 54.13 14.85 Veracyte VCYT ... dd 18.47 –1.48 ... 56.30 37.03 WSFS Financial WSFS 1.2 15 49.66 +0.05 .15 77.66 61.16 XcelEnergy XEL 2.6 25 73.90 –3.08.4875
17.77 2.38 SingularGenomics OMIC ... dd 3.13 –0.12 ... 32.00 3.58 TenayaTherap TNYA ... dd 3.63 –1.14 ... 3.58 1.00 Verastem VSTM ... dd 1.18 –0.06 ... 21.97 4.87 WW Intl WW ... 6 5.21 –0.55 ... 43.61 19.36 Xencor XNCR ... 84 28.41 +2.51 ...
6.88 5.69 SiriusXM SIRI 1.5 19 5.97 –0.30 .022 168.91 80.41 Teradyne TER .5 17 82.10 –6.74 .11 56.39 36.55 VerintSystems VRNT ... dd 37.14 –4.95 ... 13.13 4.02 Wag! PET ... dd 5.37 +0.22 ... 41.39 14.65 XenonPharms XENE ... dd 37.31 –0.22 ...

.
341.77 85.00 SiTime SITM ... 36 86.82 –15.05 ... 11.98 1.45 TernsPharm TERN ... dd 6.14 +0.87 ... 257.03 155.25 VeriSign VRSN ... 24 175.03 –15.53 ... 55.00 33.86 WalgreensBoots WBA 5.6 6 34.27 –1.97 .48 3.17 1.25 XerisBiopharma XERS ... dd 1.76 –0.06 ...
10.70 9.75 SizzleAcqn SZZL ... dd 10.05 –0.01 ... 26.81 19.67 TerritBanc TBNK 4.6 11 19.99 –0.40 .23 231.57 156.05 VeriskAnalytics VRSK .7 28 184.43 –7.61 .31 34.42 7.60 WalkMe WKME ... dd 9.07 –1.92 ... 24.14 13.24 Xerox XRX 6.2 dd 16.22 –0.16 .25
27.95 2.01 XilioTherap XLO ... dd 3.00 +0.25 ...

ly
53.05 17.65 SkyWest SKYW ... 11 17.80 –2.35 ... 414.50 206.86 Tesla TSLA ... cc 303.35 +3.67 ... 45.36 26.86 Veritex VBTX 2.7 11 29.71 +0.12 .20 31.55 12.23 WarnerBrosA WBD ... dd 12.74 –0.29 ...
178.42 88.76 Skyworks SWKS 2.5 13 99.88 –2.76 .62 8.32 4.16 TesscoTech TESS ... dd 4.62 –0.12 ... 37.14 5.72 Veritone VERI ... dd 7.14 +0.20 ... 50.23 23.74 WarnerMusic WMG 2.4 32 26.85 –1.29 .16 67.47 26.61 Xometry XMTR ... dd 56.68 –1.68 ...
105.98 29.68 SleepNumber SNBR ... 9 40.42 –5.34 ... 192.91 118.55 TetraTech TTEK .7 27 132.94 –7.00 .23 14.69 3.41 VeronaPharma VRNA ... dd 10.19 –0.73 ... 38.06 29.46 WashingtonFederal WAFD 3.1 10 31.30 –0.70 .24 7.75 1.41 Xos XOS ... 12 1.43 –0.16 ...
4.95 1.56 SmartSand SND ... dd 1.66 –0.11 ... 71.60 48.79 TexasCapBcshs TCBI ... 19 62.36 +1.58 ... 13.64 1.77 VerricaPharm VRCA ... dd 3.60 –0.50 ... 60.96 45.60 WashTrBcp WASH 4.3 12 50.02 –0.13 .54 20.72 13.39 Xperi XPER 1.4 dd 14.80 –0.26 .05
4.87 0.70 SmartShareGlbl EM ... dd .76 –0.11 ... 202.26 144.46 TexasInstruments TXN 2.8 18 165.26 –5.48 1.15 22.74 15.70 WaterstoneFinl WSBF 4.5 9 17.60 +0.58 .20 3.40 1.08 Xunlei XNET ... 18 1.55 –0.02 ...
14.30 6.98 VersaBank VBNK 1.0 12 7.36 –0.04.0191 34.33 6.50 Y-mAbsTherap YMAB ... dd 14.64 –1.66 ...
7.42 0.98 SmileDirectClub SDC ... dd 1.14 –0.10 ... 97.43 68.58 TexasRoadhouse TXRH 2.0 25 90.50 –0.68 .46 22.28 9.44 Vertex VERX ... dd 13.98 –1.12 ... 39.45 25.90 WaysideTech WSTG 2.4 11 28.47 –0.68 .17
33.36 16.59 TheBancorp TBBK ... 12 23.15 –1.22 ... 15.24 2.82 Yellow YELL ... dd 5.19 –0.92 ...
24.26 11.19 Smith&Wesson SWBI 3.5 4 11.34 –1.24 .10 305.95 176.36 VertexPharm VRTX ... 23 289.71 –2.40 ... 40.16 16.00 WeatherfordIntl WFRD ... dd 32.23 +1.19 ... 49.89 37.52 YorkWater YORW 1.8 34 44.41 +0.39.1949

on
24.50 8.90 SnapOne SNPO ... dd 10.60 –1.41 ... 40.90 1.99 TherapeuticsMD TXMD ... dd 7.98 –0.49 ... 71.04 10.70 VerveTherap VERV ... dd 36.55 –2.20 ... 52.05 17.60 Weibo WB ... 16 18.10 –0.50 ...
13.17 6.75 TheravanceBio TBPH ... dd 10.07 +0.90 ... 9.89 9.80 YottaAcqn YOTA ... ... 9.88 +0.02 ...
5.00 0.78 SoYoungIntl SY ... dd .85 –0.17 ... 12.28 7.10 ViaRenewables VIA 9.8 9 7.40 –0.50.1813 19.90 0.96 Wejo WEJO ... dd 1.15 –0.01 ... 0.12 0.06 YottaAcqnRt YOTAR ... ... .07 –0.02 ...
24.65 4.82 SoFiTech SOFI ... dd 6.05 –0.28 ... 24.54 4.86 TheseusPharm THRX ... dd 6.92 –0.61 ... 14.13 4.20 ViantTech DSP ... dd 4.38 –0.48 ... 9.99 9.72 WelsbachTech WTMA ... ... 9.96 –0.01 ...
30.50 17.80 ThirdCoastBcshs TCBX ... 19 18.66 –0.27 ... 1.42 0.50 Yunji YJ ... 20 .85 +0.05 ...
22.71 12.87 Sohu.com SOHU ... 1 17.34 –0.18 ... 68.76 25.38 ViaSat VSAT ... dd 35.93 –1.42 ... 0.30 0.06 WelsbachTechRt WTMAR ... ... .14 +0.07 ... 130.09 22.51 ZaiLab ZLAB ... dd 47.45 –1.35 ...
10.00 3.94 SolGelTech SLGL ... 14 5.82 +0.01 ... 21.49 17.93 ThirdHarmonic THRD ... ... 18.00 ... ... 15.60 9.22 Viatris VTRS 5.2 15 9.30 –0.58 .12 24.48 15.77 Wendy's WEN 2.5 24 19.86 –0.67 .125
2.39 0.50 36Kr KRKR ... 12 1.13 +0.12 ... 34.30 9.93 ZealandPharma ZEAL ... dd 18.15 –0.94 ...
389.71 200.86 SolarEdgeTech SEDG ... cc 310.51 –2.49 ... 18.14 12.65 ViaviSolutions VIAV ... cc 13.93 –0.37 ... 18.22 3.42 WerewolfTherap HOWL ... dd 5.59 –1.83 ... 615.00 283.72 ZebraTech ZBRA ... 31 288.52 –19.32 ...
3.42 0.42 SolidBiosci SLDB ... dd .64 –0.03 ... 10.13 4.00 ThorneHealthtech THRN ... cc 5.38 +0.25 ... 164.76 50.22 Vicor VICR ... 74 62.38 –6.35 ... 48.79 36.29 WernerEnterprises WERN 1.3 10 38.65 –1.52 .13
34.43 12.36 Thoughtworks TWKS ... dd 12.46 –1.24 ... 87.19 17.33 ZentalisPharm ZNTL ... dd 23.86 –5.87 ...
14.85 5.22 SolidPower SLDP ... 18 6.12 –0.50 ... 43.09 22.22 VictoryCapital VCTR 3.4 7 27.16 –1.01 .25 38.37 29.50 WesBanco WSBC 3.8 13 35.85 +1.04 .34 15.73 3.26 ZeroFox ZFOX ... 14 7.06 +2.95 ...
14.72 3.42 SomaLogic SLGC ... dd 3.49 –0.49 ... 23.70 1.90 ThredUp TDUP ... dd 2.60 –0.29 ... 6.80 0.37 View VIEW ... dd 1.85 +0.22 ... 34.50 22.13 WestBancorp WTBA 4.4 8 22.85 –1.74 .25 135.00 68.42 ZiffDavis ZD ... 9 73.84 –4.49 ...

us ,
10.88 0.90 Sonder SOND ... dd 1.87 –0.55 ... 28.49 11.15 360DigiTech QFIN 6.6 3 13.72 –0.85 .18 8.25 2.39 ViewRay VRAY ... dd 3.70 +0.12 ... 63.43 53.27 WestamericaBncp WABC 3.1 16 54.71 –1.52 .42 105.85 28.76 Zillow A ZG ... dd 34.10 –4.10 ...
47.49 2.59 Sono SEV ... dd 2.83 –0.17 ... 12.97 9.83 ThriveAcqnA THAC ... 24 10.15 +0.01 ... 18.27 2.18 VigilNeurosci VIGL ... dd 8.63 –0.98 ... 10.00 9.87 WesternAcqn WAVS ... dd 9.98 +0.02 ... 104.05 28.61 Zillow C Z ... dd 34.16 –3.73 ...
10.30 9.60 ThunderBridgeIV A THCP ... cc 9.71 –0.03 ...

l
37.48 14.53 Sonos SONO ... 18 15.38 –0.65 ... 7.05 2.02 VikingTherap VKTX ... dd 3.23 +0.08 ... 69.36 36.32 WesternDigital WDC ... 8 37.22 –6.58 ... 50.40 13.17 ZimVie ZIMV ... ... 13.28 –1.82 ...
19.19 2.16 SophiaGenetics SOPH ... dd 2.64 –0.44 ... 13.95 3.00 TilrayBrands TLRY ... dd 3.19 –0.21 ... 25.09 20.98 VillageSuper A VLGEA 4.6 13 21.73 –0.05 .25 9.98 7.13 WestNewEngBncp WNEB 3.0 8 8.01 –0.54 .06 75.44 47.92 ZionsBancorp ZION 2.8 11 57.70 –0.97 .41

e
27.38 14.53 SoteraHealth SHC ... 33 14.73 –0.93 ... 29.90 24.05 TimberlandBncp TSBK 3.2 10 27.13 +0.12 .22 35.62 4.81 Vimeo VMEO ... dd 4.90 –0.98 ... 3.97 0.95 WestportFuelSys WPRT ... dd 1.03 –0.11 ...

al a
38.58 21.50 TitanMachinery TITN ... 8 28.81 –2.93 ... 291.31 77.33 ZoomVideo ZM ... 24 78.68 –3.94 ...
3.11 1.48 SotherlyHotels SOHO ... dd 2.19 –0.22 ... 14.57 8.75 VinciPartners VINP 6.6 15 10.66 –0.43 .17 14.40 9.64 WestrockCoffee WEST ... dd 10.03 –0.76 ... 79.17 30.31 ZoomInfoTech ZI ... cc 41.99 –3.22 ...
10.26 9.96 SoundPointA SPCM ... ... 10.16 +0.02 ... 1.70 0.53 TizianaLife TLSA ... ... .55 –0.24 ... 12.38 3.00 VintageWineEstates VWE ... dd 3.10 –2.64 ... 32.45 21.85 WeycoGroup WEYS 4.2 9 22.93 –1.22 .24 2.53 0.22 Zovio ZVO ... dd .22 –0.03 ...
29.89 22.06 SouthPlainsFin SPFI 1.7 9 28.11 +0.48 .12 23.00 6.17 Torm TRMD .0 19 21.66 +0.09 .58 5.39 1.14 ViomiTech VIOT ... dd 1.22 –0.09 ... 43.22 17.09 Willdan WLDN ... dd 17.97 –2.79 ... 376.11 125.12 Zscaler ZS ... dd 169.49 –18.51 ...
93.34 62.60 SouthState SSB 2.5 13 81.17 –1.05 .50 49.13 28.42 TowerSemi TSEM ... 24 45.02 –0.88 ... 58.00 18.21 VirBiotech VIR ... 2 20.02 –2.36 ... 43.38 30.22 WillisLease WLFC ... dd 35.69 –0.84 ... 55.10 22.98 Zumiez ZUMZ ... 8 23.46 –4.10 ...
34.79 26.18 TowneBank TOWN 3.2 11 28.43 –0.16 .23

ci on
65.59 41.83 SouthernFirstBcsh SFST ... 8 42.94 –1.45 ... 8.88 1.82 ViractaTherap VIRX ... dd 5.69 +0.42 ... 249.70 187.89 WillisTowers WTW 1.6 7 206.00 –7.80 .82 14.43 1.10 Zymergen ZY ... dd 2.66 +0.03 ...
61.93 39.75 SoMO Bancorp SMBC 1.6 10 52.95 +0.54 .21 241.54 166.49 TractorSupply TSCO 1.9 21 190.02 –10.90 .92 5.00 2.63 VircoMfg VIRC ... dd 4.80 +0.68 ... 5.78 1.58 WiMiHologram WIMI ... dd 1.80 –0.01 ... 4.63 0.84 ZynerbaPharma ZYNE ... dd 1.09 –0.10 ...
29.35 18.90 SouthernStBcsh SSBK 1.3 13 27.81 +1.81 .09 114.09 39.00 TradeDesk TTD ... cc 61.89 –4.99 ... 11.28 2.59 VirginOrbit VORB ... dd 3.67 –0.38 ... 187.35 67.67 Wingstop WING .6 cc 136.75 –9.04 .19 14.24 4.97 Zynex ZYXI .0 20 9.48 +0.06 .10
45.36 35.44 SouthsideBcshs SBSI 3.6 11 38.16 +0.48 .34 102.33 59.82 Tradeweb TW .5 52 64.36 –3.64 .08
17.41 9.52 SovosBrands SOVO ... dd 14.46 –1.13 ... 14.95 3.60 TransActTechs TACT ... dd 4.59 +0.08 ...
37.48 20.26 SpartanNash SPTN 2.9 17 29.33 –2.22 .21 101.05 50.32 Transcat TRNS ... 53 74.37 +0.88 ...
2.53 0.60 SpectrumPharm SPPI ... dd 1.08 –0.22 ... 5.28 0.98 TransCodeTherap RNAZ ... dd 1.11 –0.02 ...
56.41 10.00 TransMedics TMDX ... dd 49.98 –3.41 ...
Europe Asia
19.87 0.68 SperoTherap SPRO ... dd .90 –0.22 ...
10.87 9.55 SpindletopHlth SHCA ... 19 10.02 –0.02 ... 64.58 31.19 TravelCenters TA ... 8 58.96 +5.42 ...
176.66 84.63 Splunk SPLK ... dd 90.79 –3.66 ... 13.90 5.05 Travelzoo TZOO ... 24 5.78 –0.14 ...
11.46 6.13 SpokHoldings SPOK17.2 dd 7.28 +0.04.3125 31.65 20.80 TravereTherap TVTX ... dd 26.57 –0.76 ...

er s
27.55 7.10 Sportradar SRAD ... cc 10.55 –0.35 ... 31.02 12.48 TreaceMed TMCI ... dd 22.76 –0.77 ... Discounted: Britain’s cost-of-living crisis dented retail sales. Developing Story: China’s property market continued its
17.95 7.75 SportsmansWrhs SPWH ... 4 8.45 –0.80 ... 10.87 3.19 TreanInsurance TIG ... 7 3.70 –0.40 ...
10.88 9.79 SportsMapTech SMAP ... dd 9.96 –0.02 ... 22.25 7.10 TremorIntl TRMR ... 11 7.45 –0.23 ... Europe’s central bank plans further rate hikes to beat inflation. slump, while Japan’s yen fell near levels last seen in 1998.
To reprint or license content, please contact Barron's reprints department at 800-843-0008 or www.djreprints.com

5.44 1.19 SpringBig SBIG ... 16 1.19 –0.41 ... 4.68 0.46 TreviTherap TRVI ... dd 3.26 +0.01 ...
77.70 13.60 SpringWorks SWTX ... dd 28.10 –0.25 ... 13.85 4.10 Tricida TCDA ... dd 10.77 –0.43 ...
35.34
7.73
21.18
1.25
SproutsFarmers
SpruceBio
SFM ...
SPRB ...
12
dd
27.86
1.70
–2.77 ...
–0.10 ...
49.89
38.72
37.41
23.85
m er
TriCoBancshares
TriMas
TCBK
TRS
2.5
.6
14
17
47.16
26.21
+0.10 .30
–1.10 .04 -1.43% S&P Europe BMI -0.71% S&P Pan Asia BMI
91.96 55.35 Trimble TRMB ... 29 58.68 –4.40 ...
147.99 49.03 StaarSurgical STAA ... cc 85.36 –11.45 ...
2.50 0.86 TrinityBiotech TRIB ... dd 1.21 –0.03 ... Italy 0.98 Indonesia 1.82
11.04 4.80 Stagwell STGW ... cc 7.28 +0.13 ...
20.26 13.81 TrinityCapital TRIN 9.9 7 15.29 +0.24 .15
6.98 1.26 StdBioTools LAB ... dd 1.35 –0.04 ...
33.27 14.29 Trip.com TCOM ... dd 25.13 –0.42 ... Spain 0.53 India 0.62
33.99 17.80 StarBulkCarriers SBLK33.4 2 19.60 –0.87 1.65
39.04 16.87 TripAdvisor TRIP ... dd 24.39 –0.87 ...
3.10 0.72 StarEquity STRR ... dd 1.08 +0.05 ...
19.75 5.43 TritiumDCFC DCFC ... dd 5.87 –0.96 ...
-0.25 Norway South Korea 0.52
117.80 68.39 Starbucks SBUX 2.1 26 91.31 +2.62 .49
m rp
136.01 57.15 TriumphBancorp TBK ... 13 61.16 –1.09 ...
1.51 0.16 StealthBioTher MITO ... dd .32 ... ... 3.20 1.42 trivago TRVG ... dd 1.48 –0.03 ...
-0.39 Greece Taiwan 0.48
4.18 1.91 StealthGas GASS ... dd 3.06 –0.04 ... 4.64 1.71 TrueCar TRUE ... dd 1.75 –0.26 ...
100.37 50.54 SteelDynamics STLD 1.8 3 75.02 –11.50 .34 158.25 50.81 Trupanion TRUP ... dd 64.84 –9.18 ...
-0.82 Belgium -0.44 Philippines
55.19 22.39 StepStone STEP 2.9 10 27.90 –2.21 .20 37.10 29.50 TrustcoBank TRST 4.1 10 33.81 +0.43 .35
70.91 40.35 Stericycle SRCL ... dd 49.41 –1.86 ... 35.30 26.67 Trustmark TRMK 2.9 18 32.20 +0.50 .23
-1.02 France -0.59 Singapore
28.99 14.65 SterlingCheck STER ... dd 20.13 –2.09 ... 9.35 1.60 TScanTherap TCRX ... dd 2.92 –0.38 ...
32.14 20.74 SterlingInfr STRL ... 9 23.90 –1.37 ... 1.64 0.46 Tuniu TOUR ... dd .70 –0.02 ...
-1.06 U.K. -0.71 Australia
For personal non-commercial use only. Do not edit or alter. Reproductions not permitted.

51.56 28.41 StevenMadden SHOO 2.9 9 29.27 –1.31 .21 32.15 7.21 TurtleBeach HEAR ... dd 7.94 –0.31 ...
44.65 4.61 StitchFix SFIX ... dd 4.78 –0.76 ... 43.79 5.99 TuSimple TSP ... dd 7.70 –0.21 ...
-1.17 Finland -0.79 Japan
72.77 50.83 StockYardsBncp SYBT 1.7 23 67.78 –0.44 .29 13.68 2.12 23andMe ME ... dd 3.05 –0.52 ...
33.06 9.55 StokeTherap STOK ... dd 15.67 +0.48 ... -1.72 Germany -0.85 Thailand
co o

18.20 7.91 TwinDisc TWIN ... 22 13.04 –0.74 ...

41.77 6.81 StoneCo STNE ... dd 9.04 –0.41 ... 139.99 25.07 TwistBiosci TWST ... dd 37.58 –6.46 ...
98.13 52.31 StoneX SNEX ... 11 84.37 –2.89 ... 64.00 9.91 2seventybio TSVT ... dd 14.43 –1.58 ...
-1.76 Switzerland -1.56 Malaysia
42.83 15.15 Stratasys SSYS ... dd 15.67 –1.44 ... 35.99 6.68 2U TWOU ... dd 7.50 –0.48 ...
75.03 48.01 StrategicEd STRA 3.8 32 63.54 –0.85 .60 31.36 4.93 TyraBiosciences TYRA ... dd 7.74 –0.40 ...
-2.14 Sweden -1.97 New Zealand
45.21 23.70 Strattec STRT ... 14 24.80 +0.52 ...
F

46.44 27.96 StratusProp STRS .0 3 29.13 –7.12 4.67 U -2.69 Netherlands -2.10 Hong Kong
35.80 1.24 StrongholdDig SDIG ... dd 1.24 –0.37 ... 94.80 64.13 UFP Inds UFPI 1.4 7 73.45 –4.30 .25
30.83 23.18 SummitFin SMMF 3.0 7 26.97 –1.73 .20 112.24 81.57 UMB Fin UMBF 1.7 10 89.53 –0.83 .37
-3.46 Denmark -2.20 China
20.00 14.15 SummitStateBk SSBI 3.0 7 15.83 +0.68 .12 18.75 11.00 USCB Financial USCB ... ... 14.36 –0.38 ...
6.79 0.88 SummitTherap SMMT ... dd 1.29 ... ... 138.95 102.15 US Lime&Min USLM .8 16 106.41 +1.02 .20 Indexes based on S&P Global Broad Market Indices Source: S&P DJ Indices
18.88 6.57 SumoLogic SUMO ... dd 8.16 –0.82 ... 10.31 9.72 UTA Acqn A UTAA ... dd 9.97 ... ...
36.87 16.98 SunCountryAir SNCY ... 76 17.02 –2.41 ... 7.43 0.52 uCloudlink UCL ... dd .55 –0.04 ...
11.47
34.61
60.60
4.22
12.78
16.80
SunOpta
SunPower
SunRun
STKL ...
SPWR ...
RUN ...
dd
dd
dd
9.62
26.65
37.10
–0.31 ...
–1.48 ...
–1.35 ...
32.62
451.30
60.84
9.47
330.80
26.00
Udemy
UltaBeauty
UltraClean
UDMY
ULTA
UCTT
...
...
...
dd
20
16
14.21
418.66
27.56
–1.79
–24.24
–2.19
...
...
...
Key Foreign Stock Market Indexes
74.93 34.11 SuperMicroComp SMCI ... 12 62.30 –4.58 ... 99.79 44.76 UltragenyxPharm RARE ... dd 46.03 –3.21 ... Most Recent Week’s Year-to-Date Most Recent Week’s Year-to-Date
27.26 9.59 SuperiorGroup SGC 5.8 dd 9.63 –1.52 .14 7.76 4.16 Ultralife ULBI ... dd 4.75 –0.25 ... Close %Chg. Chg. % Chg. Close %Chg. Chg. % Chg.
36.08 24.95 SupernusPharms SUPN ... 35 34.90 +0.25 ... 22.06 15.77 Umpqua UMPQ 4.7 11 17.70 –0.49 .21
8.38 1.22 SurfaceOncol SURF ... dd 1.22 –0.15 ... 4.06 1.52 UnicoAmerican UNAM ... dd 1.69 ... ... Amsterdam AEX 664.83 –3.08 –133.10 –16.68 Milan FTSE All Share 24307 +0.96 –5634.69 –18.82
44.10 2.95 Surgalign SRGA ... dd 3.91 –0.12 ... 33.45 24.43 UnionBankshares UNB 5.7 9 24.61 –0.90 .35
63.87 24.05 SurgeryPartners SGRY ... dd 27.51 –2.96 ... Athens General 836.17 –0.68 –57.17 –6.40 Moscow RTS 1275.03 +0.97 –320.73 –20.10
38.80 12.52 uniQure QURE ... dd 19.39 –1.11 ...
59.62 29.95 Surmodics SRDX ... dd 31.28 –1.68 ... 54.52 30.54 UnitedAirlines UAL ... dd 37.48 –1.78 ... Bangkok SET 1630.40 –1.46 –27.22 –1.64 Oslo Composite 1353.07 –2.13 +45.38 +3.47
23.70 3.33 SutroBioph STRO ... dd 5.70 –0.12 ... 40.85 31.74 UnitedBkshrsWV UBSI 3.9 14 36.81 +0.12 .36
10.20 9.03 SwiftmergeAcqn IVCPU ... ... 9.95 –0.02 ... 39.32 27.62 UtdCmtyBks UCBI 2.6 14 33.66 +0.53 .22 Bombay Sensex 58840 –1.59 +586.97 +1.01 Paris CAC 6077.30 –2.17 –1075.73 –15.04
11.37 9.67 SwiftmergeA IVCP ... dd 9.89 –0.04 ... 37.26 19.85 UnitedFire UFCS 2.1 12 30.53 +0.58 .16
n-

11.40 1.10 Swvl SWVL ... dd 1.20 –0.36 ... 26.09 11.91 UnitedGuardian UG 5.9 16 12.48 –2.52 .37 Brussels Bel-20 3592.32 –1.94 –717.83 –16.65 Santiago Selective 3391.52 –1.59 +585.35 +20.86
28.48 9.01 Symbotic SYM ... dd 13.03 +1.56 ... 8.74 6.54 UnitedSecBcshrs UBFO 6.7 9 6.54 –0.37 .11 Buenos Aires Merval 145741 +0.76 +62241 +74.54 Sao Paulo Bovespa 109280 –2.69 +4457.93 +4.25
299.39 104.66 Synaptics SYNA ... 17 107.93 –14.30 ... 245.48 158.38 UnitedTherap UTHR ... 17 218.11 –5.37 ...
3.09 1.06 Synchronoss SNCR ... dd 1.30 –0.17 ... 14.60 8.45 Uniti UNIT 7.0 11 8.54 –1.03 .15 Copenhagen OMX 20 1587.95 –6.34 –276.04 –14.81 Seoul Composite 2382.78 –0.06 –594.87 –19.98
25.71 13.27 SyndaxPharm SNDX ... cc 23.14 –1.43 ... 31.37 22.30 UnityBancorp UNTY 1.7 7 26.30 –1.40 .11
104.18 50.75 SyneosHealth SYNH ... 19 51.51 –10.47 ... 3.64 0.42 UnityBiotech UBX ... dd .47 –0.05 ... Dublin ISEQ 6933.96 –1.55 –1510.56 –17.89 Shanghai Composite 3126.40 –4.16 –513.38 –14.10
4.04 0.83 Synlogic SYBX ... dd 1.12 +0.03 ... 199.64 98.71 UnivDisplay OLED 1.2 26 101.69 –6.41 .30
391.17 255.02 Synopsys SNPS ... 48 314.21 –25.97 ... EURO STOXX SXXE 386.04 –2.42 –92.80 –19.38 Shenzhen B Share Idx 1185.47 –2.21 +11.67 +0.99
51.75 18.59 UnivElectro UEIC ... dd 19.58 –0.49 ...
no

4.37 1.82 SyprisSolutions SYPR ... cc 1.82 –0.08 ... 40.76 15.86 UnivLogistics ULH 1.3 8 32.15 –2.49 .105 EURO STOXX 50 SXSE 3500.41 –1.95 –798.00 –18.56 Singapore FTSE STI 3268.29 +0.16 +144.61 +4.63
5.22 0.65 SyrosPharm SYRS ... dd .73 +0.04 ... 10.99 6.87 UnivStainless USAP ... 21 7.16 –0.62 ...
T 2.67 0.50 UniversePharm UPC ... 2 .64 +0.09 ... Frankfurt DAX 12741 –2.65 –3143.60 –19.79 Stockholm OMXS 741.56 –3.40 –295.58 –28.50
31.93 24.02 UnivestFin UVSP 3.5 10 24.30 –0.62 .21
12.33 2.07 TCR2 Therap TCRR ... dd 2.26 –0.14 ... 13.28 2.68 UpFintech TIGR ... 76 3.57 –0.30 ... Helsinki OMHX 10364 –2.60 –2497.86 –19.42 STOXX Europe 50 SXSP 3454.04 –2.42 –364.42 –9.54
14.00 5.15 TelaBio TELA ... dd 8.25 –0.50 ... 37.29 9.20 UplandSoftware UPLD ... dd 9.38 –0.70 ...
9.96 3.60 TFF Pharm TFFP ... dd 5.19 –0.12 ... Hong Kong Hang Seng 18761 –3.10 –4635.98 –19.81 STOXX Europe 600 SXXP 408.24 –2.89 –79.56 –16.31
401.49 22.42 Upstart UPST ... 28 24.47 –3.06 ...
20.50 12.81 TFS Fin TFSL 8.3 59 13.64 –0.65.2825 61.90 14.85 Upwork UPWK ... dd 16.00 –1.91 ... Istanbul IMKB 3377.33 –4.09 +1519.68 +81.81 Sydney S&P/ASX 200 6739.10 –2.25 –705.54 –9.48
10.42 9.78 TGVentureAcqn TGVC ... dd 9.96 –0.01 ... 38.17 17.81 UrbanOutfitters URBN ... 10 21.64 –0.67 ...
11.04 9.77 TKBCriticalTech1 USCT ... 19 10.12 ... ... 19.66 4.85 UroGenPharma URGN ... dd 8.72 +0.83 ... Jakarta Composite 7168.87 –1.02 +587.39 +8.92 Taipel Weighted 14561 –0.15 –3657.08 –20.07
10.50 9.67 TLGY Acqn A TLGY ... 30 10.07 ... ... 8.62 1.37 Usio USIO ... dd 1.50 –0.14 ...
12.00 0.79 TMCthemetals TMC ... dd 1.25 +0.23 ... 133.87 80.10 UtahMedProducts UTMD 1.3 20 86.50 –5.40 .29 Johannesburg All Share 66584 –3.09 –7125.05 –9.67 Tel Aviv 125 Index 2015.55 –0.22 –40.96 –1.99
148.04 101.51 T-MobileUS TMUS ... cc 139.95 –5.75 ... 5.36 2.44 UTStarcom UTSI ... dd 3.61 –0.34 ... Kuala Lumpur Composite 1467.31 –1.95 –100.22 –6.39 Tokyo Nikkei-225 27567 –2.29 –1224.06 –4.25
35.40 23.09 TPG TPG 5.4 dd 30.82 –1.95 .39 3.18 0.36 Uxin UXIN ... dd .69 –0.01 ...
37.25 9.23 TPIComposites TPIC ... dd 14.66 –1.65 ... LISBON PSI 4648.49 –1.47 +464.31 +11.10 Toronto S&P/TSX 19385 –1.96 –1836.96 –8.66
223.36 104.72 TRowePrice TROW 4.4 11 110.13 –14.26 1.20 V
103.65 47.69 TTEC TTEC 2.0 23 48.99 –3.85 .50 2.38 0.24 VEON VEON ... 1 .36 –0.05 ... London FTSE - 100 7236.68 –1.56 –147.86 –2.00 Vienna ATX 2914.36 –1.58 –946.70 –24.52
17.49 9.76 TTM Tech TTMI ... 20 14.44 –1.03 ... 10.29 9.82 VMGConsumerA VMGA ... ... 9.97 +0.04 ...
10.27 2.16 Taboola TBLA ... 33 2.18 –0.38 ... 19.66 3.51 VNET VNET ... dd 6.11 +1.52 ... Madrid IBEX 35 7984.70 –0.60 –729.10 –8.37 Wellington S&P/NZX 50 11580 –1.51 –1453.31 –11.15
31.63 2.09 TabulaRasaHlth TRHC ... dd 4.80 +0.21 ... 13.41 5.85 VOXX Intl VOXX ... dd 7.36 –1.07 ... Manila Composite 6548.77 –0.87 –573.86 –8.06 Zurich Swiss 10610 –2.66 –2265.01 –17.59
46.41 6.28 TactileSystems TCMD ... dd 8.21 –0.40 ... 65.42 31.85 VSE VSEC 1.0 17 38.99 –1.85 .10
195.83 101.85 TakeTwoSoftware TTWO ... 82 124.19 –3.59 ... 11.00 2.38 Vacasa VCSA ... dd 3.49 –0.51 ... Mexico City IPC 46769 –0.58 –6502.66 –12.21 Indexes are based on local currencies. Because of various holidays and other market closings, the most
17.48 2.04 TalarisTherap TALS ... dd 3.32 –0.54 ... 16.20 2.76 Vaccitech VACC ... ... 3.06 –0.60 ... recent close is not necessarily that of the week of publication.
7.99 0.72 TalisBiomed TLIS ... dd .84 –0.06 ... 10.49 9.85 VahannaTechI A VHNA ... dd 10.08 +0.02 ...
4.86 1.00 Talkspace TALK ... dd 1.02 –0.24 ... 15.10 10.01 ValleyNatlBncp VLY 3.7 12 11.78 –0.16 .11
 50 BARRON’S September 19, 2022

D ATA TOP 500 EXCHANGE-TRADED PORTFOLIOS B A R R O N S .C O M / D ATA

Tick Div Tick Div Tick Div Tick Div Tick Div
NOTICE TO READERS: Listed are Name Sym Yld Last Chg. Amt. Name Sym Yld Last Chg. Amt. Name Sym Yld Last Chg. Amt. Name Sym Yld Last Chg. Amt. Name Sym Yld Last Chg. Amt.
the top 500 ETF’s based on weekly iShCoreS&PUSGrowth IUSG .9 86.84 –5.22 .1996 DirexGoldMinBr2 DUST ... 25.70 +2.10 ... HartfordMultiDvxUS RODM 6.1 23.63 –0.77 .7087 iShMSCICanada EWC 2.2 33.56 –1.33 .276 SPDRGoldMini GLDM ... 33.23 –0.84 ...
volume. iShCoreS&PUSValue IUSV 2.2 68.09 –2.71 .3701 DirexGoldMinBl2 NUGT ... 25.37 –2.53 ... HealthCareSelSect XLV 1.5 127.45 –3.05 .5042 iShMSCI EAFE EFA 5.0 60.40 –2.04 1.4976 SPDR Gold GLD ... 155.84 –3.98 ...
iShCoreTotalUSDBd IUSB 2.2 45.67 –0.46 .0994 DirexHmbldrBull3 NAIL ... 25.11 –5.48 ... iMGPDBiMgdFutures DBMF 4.6 32.91 +0.13 2.6772 iShMSCIEmgMarkets EEM 2.9 37.79 –1.21 .3619 SPDRNuvBBHYMuni HYMB 3.7 49.77 –0.34 .1565
Tick Div
Name Sym Yld Last Chg. Amt. iShSelectDividend DVY 3.1 118.33 –5.05 .867 DirexJrGoldMinBr2 JDST ... 14.96 +1.53 ... IndSelSectorSPDR XLI 1.6 89.21 –6.08 .3742 iShMSCIFrance EWQ 6.8 29.37 –0.87 .9483 SPDRNuveenMuniBd TFI 1.8 45.00 –0.33 .0713
iShESGAwareMSCI ESGD 4.1 60.66 –2.12 1.396 DirexJrGoldMnBl2 JNUG ... 26.63 –3.46 ... InspireCorpBd IBD 1.2 23.21 –0.10 .0296 iShMSCIGermany EWG 3.8 21.61 –0.81 .7919 SPDRNuveenSTMuni SHM .7 46.76 –0.24 .0265
Bats iShESGAwareEM ESGE 3.7 29.99 –1.01 .2762 DirexRealEstBr3 DRV ... 50.13 +8.37 ... InvscCA AMT-Fr PWZ 2.5 23.86 –0.19 .0483 iShMSCIHongKong EWH 3.0 19.92 –0.34 .3303 SPDRPtfAggBd SPAB 2.4 25.62 –0.24 .0532
ARKGenomicRev ARKG .0 35.74 –2.00 .3824 iShESGAwareUSA ESGU 1.4 86.16 –4.56 .2759 DirexRealEstBl3 DRN 1.6 13.37 –2.97 .0446 InvscDBComm DBC ... 24.88 –0.51 ... iShMSCIIndonesia EIDO 2.1 24.27 –0.10 .3354 SPDRPtfDevxUS SPDW 4.2 27.97 –0.95 .5851
BlkRkShMaturityBd NEAR 1.0 49.30 –0.02 .0825 iShESGIUSALdrs SUSL 1.5 66.65 –3.71 .2193 DirexRegBksBl3x DPST 1.1 29.39 –1.70 .0861 InvscDBAgriFd DBA ... 20.52 –0.15 ... iShMSCIIntlQual IQLT 3.7 29.81 –1.11 .7128 SPDRPtfEM SPEM 4.2 33.23 –1.15 .4585
BlkRkShMatMuni MEAR .4 49.71 –0.02 .0558 iShFallAngelsUSDBd FALN 4.5 24.92 –0.41 .1026 DirexRetailBull3 RETL 1.0 8.37 –1.63 .0123 InvscDBOilFund DBO ... 16.24 –0.25 ... iShMSCIIntlValue IVLU 4.9 21.49 –0.44 .5335 SPDRPtfIntermCpBd SPIB 2.1 32.10 –0.24 .0787
BlkRkUltShtBd ICSH .8 50.02 –0.02 .0922 iSh5-10YIGCorpBd IGIB 2.8 50.09 –0.50 .1287 DirexS&P500Br3 SPXS ... 23.68 +3.02 ... InvscDBUSDBull UUP ... 29.40 +0.21 ... iShMSCIItaly EWI 5.3 23.75 –0.07 .8162 SPDR PtfIntTrea SPTI 1.0 28.70 –0.23 .0354
CambriaTailRisk TAIL .8 16.29 +0.33 .0507 iShGSCICmDynRoll COMT 14.7 37.33 –0.69 5.4941 DirexS&P500Bl3 SPXL .3 67.97 –11.52 .0776 InvscEMSovDebt PCY 7.2 18.30 –0.59 .117 iShMSCIJapan EWJ 2.8 51.63 –1.44 .5459 SPDRPtfLTCorpBd SPLB 4.2 23.10 –0.37 .0853
DimenIntlCore2 DFIC 2.1 20.90 –0.71 .1087 iShGlbCleanEner ICLN 1.2 22.11 –0.82 .1403 DirexS&PBiotechBr3 LABD ... 21.54 +2.84 ... InvscFTSERAFIEM PXH 6.8 17.69 –0.67 .3902 iShMSCIMalaysia EWM 5.8 21.57 –0.72 .4652 SPDRPtfLgTermTrea SPTL 2.4 30.95 –0.38 .0696
DimenIntlSCValue DISV 1.4 20.34 –0.68 .0708 iShiBdsDec25Trea IBTF 1.2 23.51 –0.13 .0424 DirexS&PBiotechBl3 LABU ... 8.30 –1.63 ... InvscNatAMTFrMuni PZA 2.7 22.79 –0.15 .0514 iShMSCIMexico EWW 3.1 45.96 –0.70 .7535 SPDRPtfMtgBkdBd SPMB 2.9 22.10 –0.28 .0531
FTCboeUSBuffSep FSEP ... 33.34 –0.65 ... iShiBdsDec24Trea IBTE 1.1 24.06 –0.11 .0496 DirexS&P500Br1 SPDN ... 16.58 +0.76 ... InvscPreferred PGX 6.7 12.22 –0.09 .058 iShMSCIPacificxJp EPP 6.7 40.65 –1.63 1.1597 SPDRS&P500Value SPYV 2.3 37.40 –1.51 .2221

.
GlbXUSInfrDevt PAVE .7 24.56 –2.00 .0806 iShiBdsDec23Trea IBTD .8 24.77 –0.06 .0465 DirexHiBetaBear3X HIBS ... 8.66 +1.20 ... InvscS&P500EW RSP 1.7 138.75 –6.99 .7034 iShMSCISaudiArabia KSA 1.4 42.69 –0.44 .3292 SPDRPtfS&P1500 SPTM 1.6 47.77 –2.36 .2038
GS PhysGold AAAU ... 16.61 –0.43 ... iShJPMUSDEmgBd EMB 5.1 84.20 –1.93 .3456 DirexS&POil&GasBr2 DRIP ... 16.63 +1.20 ... InvscS&P500HiBeta SPHB 1.0 64.19 –3.56 .0991 iShMSCISthKorea EWY 3.1 54.40 –1.45 1.6785 SPDRPtfS&P500 SPLG 1.6 45.53 –2.28 .1938

ly
InnovS&P500Sep PSEP ... 29.05 –0.79 ... iShMBSETF MBB 1.4 94.43 –1.03 .1841 DirexS&POilBl2 GUSH .1 155.14 –15.29 .108 InvscS&P500HiDiv SPHD 3.8 43.24 –1.64 .1406 iShMSCISpain EWP 3.6 22.24 –0.26 .3723 SPDRS&P500Growth SPYG .9 54.19 –3.32 .1309
iPathS&P500VIX VXX ... 19.81 +1.34 ... iShMSCI ACWI ACWI 2.3 83.99 –3.74 .8468 DirexSemiBr3x SOXS ... 52.89 +7.62 ... InvscS&P500LowVol SPLV 2.0 62.60 –2.23 .1138 iShMSCISweden EWD 8.1 29.53 –1.27 .9925 SPDRS&P500HiDiv SPYD 4.0 39.18 –2.15 .4184
iShBrdUSDHYCpBd USHY 5.9 34.97 –0.70 .1932 iShMSCIACWIxUS ACWX 4.0 43.15 –1.46 .8374 DirexSemiBl3 SOXL .3 12.06 –2.59 .0188 InvscS&P500Qual SPHQ 1.7 42.77 –2.15 .2007 iShMSCISwitz EWL 2.1 40.10 –1.57 .8573 SPDRPtfS&P400MC SPMD 1.6 41.80 –2.06 .1865
iShConvBond ICVT 1.7 72.50 –1.77 .114 iShMSCIACxJpn AAXJ 2.7 63.90 –2.16 .1305 DirexScBear3 TZA ... 37.30 +4.52 ... InvscSrLoan BKLN 3.5 20.83 –0.21 .0786 iShMSCITaiwan EWT 2.9 47.80 –1.70 1.7603 SPDRPtfS&P600SC SPSM 1.7 36.62 –1.59 .1548
iShCoreMSCIEAFE IEFA 4.8 57.04 –1.94 1.3319 iShMSCIChina MCHI 1.3 46.19 –2.17 .312 DirexSCBull3 TNA .1 36.60 –5.79 .0504 InvscSolar TAN ... 84.98 –2.81 ... iShMSCIUK EWU 5.1 28.37 –0.95 .5803 SPDRPtfSTCpBd SPSB 1.3 29.51 –0.12 .0532

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iShCurrHdgMSCIEAFE HEFA 4.4 31.44 –0.83 .7843 iShMSCI EAFE SC SCZ 4.9 53.07 –1.95 1.125 DirexTechBear3 TECS ... 44.27 +6.99 ... InvscTaxMuniBd BAB 3.2 26.48 –0.21 .0733 iShMSCIWorldETF URTH 1.9 108.01 –4.89 1.0067 SPDRShtTermTrea SPTS .6 29.08 –0.15 .031
iShIntlSelDiv IDV 7.5 25.56 –0.73 .6489 iShMSCIEMxChina EMXC 2.8 47.85 –1.30 .5071 DirexTechBull3 TECL ... 27.36 –6.25 ... InvscUltShtDur GSY .8 49.59 –0.02 .0729 iShNatlMuniBd MUB 2.0 104.63 –0.71 .1985 SPDR PtfTIPS SPIP 7.9 26.53 –0.33 .3502
iShTransportAvg IYT 1.1 215.64 –19.79 .6753 iShMSCIEurFinls EUFN 6.9 15.80 +0.02 .6705 Direx20+YrTrBull TMF .5 9.97 –0.36 .0256 InvscVarRtPfd VRP 5.1 22.81 –0.05 .1134 iShRussell1000Gwth IWF .7 227.36 –13.05 .3913 SPDRS&PBank KBE 2.6 47.92 –0.99 .2865
iShUSAero&Def ITA .8 98.54 –4.58 .2784 iShMSCITurkeyETF TUR 2.7 24.11 –0.95 .5523 DirexNasd100EW QQQE .7 64.92 –3.78 .1398 InvscWildClnEngy PBW 2.5 57.32 –1.15 .3164 iShRussell1000Val IWD 1.9 148.03 –6.56 .644 SPDRS&PGlbNatRes GNR 4.4 52.62 –2.77 1.1652
iShUSHomeConstrn ITB .8 54.29 –3.37 .1016 iSh1-5YIGCorpBd IGSB 1.8 50.02 –0.30 .089 ETFMGAltHarvest MJ 3.8 5.35 –0.48 .07 iSh0-5YTIPSBd STIP 6.7 98.22 –0.52 1.2508 iShRussell2000Gwth IWO .5 221.20 –12.15 .2468 SPDRS&PInsurance KIE 1.9 38.31 –1.06 .1777
iShUSOil&GasExpln IEO 2.5 91.07 –1.76 .5754 iShParisClimt PABU .8 42.83 –2.25 .1125 ETFMGPrmJrSilv SILJ .5 8.98 –0.49 .0449 iShCalifMuniBd CMF 1.8 55.50 –0.52 .089 iShRussell2000 IWM 1.3 178.99 –8.41 .4941 SPDRS&PRegionalBkg KRE 2.3 62.95 –1.10 .3553
iShPfd&Incm PFF 5.0 32.66 –0.48 .1509 ETFMG US Alt MJUS ... 2.54 –0.28 ... iShChinaLC FXI 2.1 27.99 –1.38 .1459 iShRussell2000Val IWN 2.0 141.40 –5.78 .5785 SchwabEM Equity SCHE 3.0 24.06 –0.82 .0754

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iShUSTelecomm IYZ 2.9 23.57 –1.29 .1529
iShEdgeMSCIMinEAFE EFAV 2.9 60.56 –1.55 1.1093 iShGlobalInfra IGF 2.5 46.69 –1.61 .705 EnSelSectorSPDR XLE 3.6 78.44 –2.16 .8151 iShConsAllocat AOK 2.0 33.94 –0.60 .0397 iShRussell3000 IWV 1.4 224.42 –11.37 .634 SchwabFundEmgLrg FNDE 5.6 25.18 –0.87 1.1302
iShRussellMid-Cap IWR 1.4 67.69 –3.66 .2053 SchwabFundIntLrgCo FNDF 4.3 27.39 –0.70 .2833

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iShEdgeMSCIMinVlEM EEMV 2.0 53.38 –0.97 .2704 iShSemiconductor SOXX 1.0 354.17 –21.42 .628 FidelityMSCIEn FENY 3.1 21.42 –0.81 .229 iShCoreDivGrowth DGRO 2.2 48.21 –2.01 .2347
iShEdgeMSCIMinUSA USMV 1.5 70.58 –3.02 .2217 iShShortTreaBd SHV .4 109.95 –0.04 .1612 FidelityMSCIUtils FUTY 2.5 47.59 –2.12 .346 iShGrwthAllocation AOR 2.2 47.32 –1.38 .353 iShRussell1000 IWB 1.4 213.89 –11.00 .6245 SchwabFundUSLrgCo FNDX 2.0 51.98 –2.37 .2939

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iShEdgeMSCIUSAMom MTUM 1.1 139.81 –4.22 .3729 iSh1-3YTreasuryBd SHY .6 81.67 –0.41 .1005 FidelityTotalBd FBND 2.5 45.81 –0.50 .127 iShCoreHiDividend HDV 3.1 100.30 –2.75 .5697 iShRussellTop200Gr IWY .7 129.18 –7.41 .1971 SchwabIntmUSTrsr SCHR 1.5 50.12 –0.41 .1061
iShEdgeMSCIUSAQual QUAL 1.4 112.60 –7.09 .4216 iSh7-10YTreaBd IEF 1.5 98.68 –1.01 .179 FinSelSectorSPDR XLF ... 33.06 –1.30 ... iShCoreMSCIEM IEMG 4.2 46.53 –1.54 .6044 iShS&P500Growth IVW .7 62.55 –3.84 .1053 SchwabIntlDiv SCHY 2.9 21.49 –0.55 .3846
iShEdgeMSCIUSAVal VLUE 3.2 90.32 –4.23 .6833 iSh20+YTreasuryBd TLT 2.2 107.07 –1.24 .2361 FT DJ Internet FDN ... 135.51 –8.71 ... iShCoreMSCIEurope IEUR 4.4 43.06 –1.54 1.1109 iShS&P500Value IVE 2.1 139.70 –5.54 .5865 SchwabIntEquity SCHF 3.9 30.44 –1.03 .276
iShExpTechSftwr IGV .0 266.64 –24.07 .0234 iSh0-5YInvGrdCpBd SLQD 1.6 48.03 –0.23 .0956 FT EnergyAlpDx FXN 1.5 17.16 –0.50 .1131 iShMSCIIntlDev IDEV 4.5 52.28 –1.80 1.1738 iShS&PGSCIComm GSG ... 21.38 –0.49 ... SchwabIntlSC SCHC 3.3 30.57 –1.18 1.0061

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iShFloatingRateBd FLOT .8 50.33 –0.07 .1075 JPMNasdEqPrem JEPQ 11.3 44.50 –2.35 .5463 FT MngstrDiv FDL 3.4 35.36 –1.24 .2368 iShCoreS&P500 IVV 1.5 389.10 –19.66 1.2827 iShS&PMC400Value IJJ 1.9 98.40 –4.18 .3637 SchwabSrtTRmUSTrsr SCHO .7 48.53 –0.23 .07
iShIntlAggBd IAGG .1 49.38 –0.05 .6317 ProShUltPrQQQ TQQQ ... 24.60 –5.24 ... FT NaturalGas FCG 1.9 25.59 –0.67 .1461 iShCoreS&P MC IJH 1.5 238.06 –11.86 .7895 iShS&P100 OEF 1.4 175.86 –8.78 .569 SchwabUS AggrBd SCHZ 2.5 46.54 –0.42 .1004
ProShUltShtQQQ SQQQ ... 49.12 +7.28 ... FT NA Energy Infra EMLP 2.8 27.76 –0.66 .2035 iShCoreS&P SC IJR 1.8 93.96 –4.05 .3018 iShS&PSC600Value IJS 1.8 89.62 –3.62 .2835 SchwabUS BrdMkt SCHB 1.6 45.57 –2.25 .179
iShMSCIChileCap ECH 7.1 26.94 –1.46 1.1345
VanEckGlFallAnglHY ANGL 4.5 27.37 –0.48 .1097 FT PfdSecs FPE 5.2 17.46 –0.16 .0853 iShCoreS&PTotUS ITOT 1.5 86.30 –4.33 .2729 iShShtNatlMuniBd SUB .7 103.78 –0.26 .0811 SchwabUS Div SCHD 3.4 71.19 –3.08 .7038
iShMSCIEurozone EZU 4.7 35.08 –1.02 .9278
VanEckSemicon SMH ... 203.91 –12.95 ... FT TCWUnPlBd UCON 2.1 24.40 –0.22 .085 iShCoreUSAggBd AGG 2.1 98.83 –0.95 .2045 iShSilver SLV ... 17.99 +0.67 ... SchwabUS LC SCHX 1.6 45.93 –2.31 .1867
iShMSCIGlbMet&MnPr PICK 10.0 35.91 –2.30 1.7775
VangdEM GovBd VWOB 5.3 60.72 –1.36 .2691 FT ValDivFd FVD 1.9 38.74 –1.54 .1701 iShUSRealEstate IYR 2.4 91.51 –5.81 .345 iShTIPSBondETF TIP 7.7 109.70 –1.40 1.4384 SchwabUS LC Grw SCHG .6 60.32 –3.67 .0767
iShMSCIEAFEGrowth EFG 2.2 77.80 –3.61 .882
VangdGlblxUS RE VNQI 6.9 42.26 –1.11 2.8949 FlexGlbUpstmNatRsc GUNR 4.8 39.94 –2.41 .583 iShUS Energy IYE 2.9 43.01 –1.04 .3425 iSh10+YIGCpBd IGLB 4.4 51.20 –0.78 .1878 SchwabUS LC Val SCHV 2.3 63.64 –2.71 .386
iShMSCIIndiaETF INDA 6.7 43.13 –0.64 .0301
VangdIntrCorpBd VCIT 2.8 78.32 –0.88 .2067 iShTreaFRBd TFLO .5 50.45 +0.03 .0952 SchwabUS MC SCHM 1.7 66.23 –3.45 .2936
FlexiBx3YDurTIPS TDTT 7.4 24.00 –0.18 .305 iShUSMedDevices IHI .3 51.28 –2.21 .0481

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iShMSCIEAFEValue EFV 6.1 42.03 –0.76 1.3785
VangdIntermTrea VGIT 1.4 59.45 –0.48 .0907 iShRussellMCGrowth IWP .6 84.67 –4.82 .1113 SchwabUS REIT SCHH 2.2 20.92 –1.26 .1424
iShMtgRealEst REM 7.8 27.42 –1.15 .6508 FrankFTSE UK FLGB 3.8 21.24 –0.71 .4867 iShEuropeETF IEV 4.5 41.02 –1.38 1.184
VangdIntlHiDiv VYMI 5.5 57.10 –1.36 1.1166 iShUSTech IYW .4 79.27 –5.90 .0759 SchwabUS SC SCHA 1.5 41.09 –2.03 .1476
iShNorthAmNatRscs IGE 2.5 37.93 –1.36 .2292 GlbXCopperMiners COPX 3.7 29.89 –1.51 .7179 iShGlobalEnergy IXC 4.0 36.02 –0.95 .7607
To reprint or license content, please contact Barron's reprints department at 800-843-0008 or www.djreprints.com

VangdLTCorpBd VCLT 4.2 77.80 –1.26 .2849 iSh0-5YHYCorpBd SHYG 5.3 40.96 –0.57 .1945 Schwab US TIPs SCHP 7.0 54.16 –0.68 .3018
iShUSTreasuryBd GOVT 1.4 23.21 –0.16 .0356 GlbXLithium&Batt LIT .3 72.76 –4.28 .0622 iShGoldTr IAU ... 31.75 –0.83 ...
iSh0-3MTreaBd SGOV .5 100.15 +0.05 .168 SPDR DJIA Tr DIA 2.0 308.05 –14.23 .8231
JPMBetaEurope
JPMBetaJapan
BBEU 5.7
BBJP 3.7
44.21
43.16
–1.49
–1.11
1.5475
1.5902
VangdLongTrea
VangdMBS
VGLT
VMBS
2.5
1.8
m er65.65
46.38
–0.85
–0.49
.1524
.0984
GlbXRuss2000Cvr
GlbXS&P500Cv
RYLD 12.9
XYLD 12.7
19.50
40.40
–0.92
–2.05
.2069
.4338
iShiBdsDec28Cp
iShiBdsDec24Cp
IBDT
IBDP
2.9
1.9
24.53
24.55
–0.22
–0.13
.0695
.0436
JPM AlerianMLP AMJ 6.3 21.60 –0.46 .3522 SPDR EurSTOXX FEZ 4.4 33.79 –0.80 .7507
VangdRuss1000Grw VONG .8 58.46 –3.35 .1281 JanusHendersonAAA JAAA 1.7 49.32 +0.02 .1532 SPDR MSCI exUS CWI 3.8 22.85 –0.76 .4136
JPMUltShMuni JMST .6 50.40 –0.03 .0636 GlbXSilverMiners SIL 2.0 24.06 –0.64 .0717 iShiBdsDec23Cp IBDO 1.7 25.00 –0.08 .0394
VangdRuss1000Val VONV 2.1 64.88 –2.78 .3727 JPMEquityPrem JEPI 10.4 54.20 –1.95 .5589 SPDR S&PMdCpTr MDY 1.4 433.23 –23.44 1.8283
-1xShVIXFutures SVIX ... 12.07 –1.03 ... GlblX SuperDiv SDIV 14.0 8.60 –0.26 .095 iShiBoxx$HYCpBd HYG 5.0 74.20 –1.61 .366
VangdRuss2000 VTWO 1.4 72.21 –3.39 .2184 JPMIntlResearchEnh JIRE ... 47.23 –1.44 ... SPDR S&P 500 SPY 1.6 385.56 –21.04 1.5769
PacerUSCashCows100 COWZ 1.9 43.99 –2.65 .2125 GlbX US Pfd PFFD 6.2 21.05 –0.19 .105 iShiBoxx$InvGrCpBd LQD 3.0 107.10 –1.28 .3043
VangdSTCpBd VCSH 1.7 75.50 –0.43 .1362 JPM UltShtIncm JPST .9 50.14 –0.03 .0824 SPDR S&P Biotch XBI ... 83.27 –4.74 ...
PacerUSSCCash100 CALF 3.4 34.50 –1.81 .1153 GlbX Uranium URA 6.5 21.84 –2.02 .1031 iShIntlEquity INTF 6.2 22.70 –0.78 .5326
KraneCSIChInt KWEB .0 26.61 –1.80 2.5804 SPDR S&P Div SDY 2.8 120.19 –6.12 .7706
m rp
ProShS&P500Arist NOBL 2.1 86.25 –4.68 .3883 VangdShtTmInfltn VTIP 6.1 49.14 –0.24 .6849 GSTreasury0-1Y GBIL .4 99.74 –0.03 .1459 iShLatinAmer40 ILF 11.1 24.38 –1.00 1.0981
MatlsSelSector XLB 2.2 72.90 –5.17 .5146 SPDR S&P Home XHB .9 57.79 –4.27 .1382
ProShShtVIXST SVXY ... 52.42 –2.15 ... VangdShortTrea VGSH .6 58.11 –0.28 .0603 GSActiveBetaIntlEq GSIE 3.7 26.90 –0.90 .4589 iShMSCIAustralia EWA 7.7 21.24 –1.11 .7434
MicroFang-3xInv BERZ ... 34.59 +6.77 ... SPDR S&P MtlMng XME .9 45.36 –5.22 .2107
ProShUltVIXST UVXY ... 10.40 +1.05 ... VangdTotalBd BND 2.3 73.16 –0.67 .1565 GSActiveBetaUSLC GSLC 1.5 76.68 –4.02 .2996 iShMSCIAustria EWO 5.0 17.41 –0.45 .4944
MicroFang3xLvg BULZ ... 3.45 –1.05 ... SPDRS&POilGasExpl XOP 1.5 137.22 –5.99 .7673
ProShsVIXSTFut VIXY ... 14.82 +1.06 ... VangdTotIntlBd BNDX 3.5 48.81 +0.10 .0484 GraniteGold BAR ... 16.59 –0.41 ... iShMSCIBrazil EWZ 12.1 30.00 –1.49 1.4991
MicroFANG-3XInvr FNGD ... 52.88 +7.22 ... SPDR S&P Retail XRT 2.5 62.49 –3.52 .3183
2xLongVIXFut UVIX ... 10.55 +1.34 ... VangdTotIntlStk VXUS 4.0 49.74 –1.70 .5893
MicroFang+3x FNGU ... 7.46 –1.56 ... TechSelectSector XLK .9 128.71 –8.49 .3232
VanEckAMTFrIntMuni ITM 1.9 44.83 –0.39 .0736 WisdTrCloud WCLD ... 28.59 –2.21 ...
For personal non-commercial use only. Do not edit or alter. Reproductions not permitted.

MicroGold3xLvgd GDXU ... 3.02 –0.50 ... TeucriumCornFd CORN ... 27.09 –0.17 ...
VanEckHYMuni HYD 4.0 51.65 –0.49 .1579 WisdTrUSQltyDiv DGRW 2.2 57.54 –2.52 .10
MicroOil&Gas-3 OILD ... 4.13 +0.23 ... TeucriumWheatFd WEAT ... 8.73 –0.08 ...
VanEckMstrWdMoat MOAT 1.3 64.38 –4.12 .8227

Selected ETF Leaders

NYSE ARCA MicroOil&Gas3x OILU ... 46.48 –4.49 ... U.S.GlobalJetsETF JETS .0 17.01 –0.90 .1414
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VanEckVietnam VNM .7 14.51 –0.54 .1031

MicrUSBigOil3InLv NRGD ... 54.55 +3.77 ... UtilitiesSelSector XLU 2.7 74.47 –2.91 .5154
VangdESGUSStk ESGV 1.3 67.94 –3.85 .2311 AB UltShIncm YEAR ... 49.99 ... ... PGIMUltraShBd PULS 1.5 49.11 +0.04 .1267 VanEckGoldMin GDX 2.2 24.00 –1.10 .5348
VangdUltShrtBd VUSB .8 49.05 –0.09 .0765 ARKInnovationETF ARKK .0 42.58 –2.02 .7826 PimcoEnhShMat MINT 1.0 99.12 –0.06 .19 VanEck IG FR FLTR 1.1 24.93 –0.02 .0658
ARK NextGen ARKW .0 51.86 –2.89 3.3143 Pimco0-5YHyCpBd HYS 4.2 89.65 –1.60 .42 VanEckJPMEMLCBd EMLC 5.9 23.78 –0.36 .1212
NASDAQ Vanguard Total Bond
F

abrdnPhysGold SGOL ... 16.03 –0.42 ... -0.91% ProShBitcoin BITO ... 12.06 –1.11 ... VanEckJrGoldMin GDXJ 2.5 29.29 –1.85 .7454
AXSShInnovDly SARK ... 55.30 +1.91 ... abrdnPhysSilver SIVR ... 18.77 +0.71 ... Market (BND) ProShShBitcoin BITI ... 38.20 +2.71 ... VanEckMerkGoldTr OUNZ ... 16.24 –0.42 ...
AXSTSLABrDly TSLQ ... 37.52 –0.59 ... AdvShPureUSCan MSOS .0 11.01 –1.51 .07 ProShShtDow30 DOG ... 36.01 +1.48 ... VanEckOilSvcs OIH .8 233.88 –12.73 1.8075
AXS2XInnovation TARK ... 17.85 –1.86 ... AGFiQ US NeutAB BTAL ... 19.74 +0.60 ... SPDR Gold Shares ProShShortHY SJB ... 19.25 +0.40 ... VangdExtMkt VXF 1.0 138.56 –7.31 .2454
AdvShDorseyShrt DWSH ... 9.91 +0.68 ... AlerianMLPETF AMLP 7.4 39.47 –0.90 .74 -2.49 ProShShortQQQ PSQ ... 13.81 +0.76 ... VangdInfoTech VGT .9 332.75 –21.91 .5955
CSX-LinksCrudeOil USOI 39.8 4.42 –0.04 .1265 AmpCWPEnhDiv DIVO 5.1 33.95 –1.22 .1443
(GLD)
ProShShtRus2000 RWM ... 24.49 +1.08 ... VangdSC Grwth VBK .4 211.21 –11.87 .2403
DirexTSLABl1.5x TSLL ... 26.32 +0.39 ... ArkFinInnov ARKF ... 17.32 –1.17 ... ProShShrtS&P500 SH ... 16.02 +0.75 ... VangdSC Val VBR 2.0 156.48 –7.51 .7123
FidelityNasdaq ONEQ .8 44.83 –2.73 .10 AvantisEM AVEM 3.5 49.95 –1.53 .5232 iShares Core MSCI ProShSh20+Tr TBF ... 21.34 +0.25 ... VangdDivApp VIG 2.0 145.68 –6.61 .6949
FT CapStrength FTCS 1.2 70.45 –2.95 .1794 AvantisIntlEquity AVDE 3.7 49.64 –1.62 .9549 -3.29
EAFE (IEFA) ProShUltBlmCrude UCO ... 30.67 –1.47 ... VangdEnergy VDE 3.3 110.78 –3.08 1.0081
FT CloudComp SKYY 1.3 65.53 –4.84 .0362 AvantisUSEquity AVUS 1.5 67.39 –3.33 .263 ProshUltBlmNatGas BOIL ... 72.14 –6.96 ... VangdFTSEDevMk VEA 4.0 39.56 –1.37 .53
FT MultAsstDiv MDIV 6.1 15.68 –0.36 .114 AvantisUSSCValue AVUV 1.6 71.39 –3.21 .2968 ProShUltDow30 DDM .6 56.44 –5.15 .0837 VangdFTSE EM VWO 3.5 39.67 –1.35 .3057
FT EnhShtMat FTSM .7 59.43 +0.01 .099 BreakwDryBulk BDRY ... 9.07 +0.44 ... Vanguard FTSE ProShUltraQQQ QLD ... 42.99 –5.70 ... VangdFTSE Europe VGK 4.5 50.59 –1.82 1.0479
-3.29
FT GlTactCommod FTGC 6.3 26.34 –0.27 .0073 CapitalGrpDivVal CGDV .8 22.33 –0.91 .0546 Emerging Markets ProShUltRus2000 UWM ... 33.61 –3.39 ... VangdFTSE Pac VPL 3.9 61.97 –1.79 .545
FT LowDurOpp LMBS 1.9 48.02 –0.13 .0775 CapGrpGlbGrw CGGO .4 20.24 –0.89 .0432
(VWO) ProShUltraS&P SSO .2 46.49 –4.94 .0402 VangdFinls VFH 2.3 81.39 –3.01 .4134
FT NasdCybersec CIBR .7 40.80 –2.91 .0033 CapitalGrpGrw CGGR .2 21.18 –0.98 .0198 ProShUltSilver AGQ ... 22.06 +1.70 ... VangdFTSEAWxUS VEU 3.9 48.13 –1.62 .578
Vanguard FTSE
n-

FTRisingDivAch RDVY 1.6 42.31 –1.80 .2216 CapGrpIntlFocus CGXU .8 20.13 –0.80 .0771 -3.35 ProShUltDow30 UDOW .9 47.99 –6.98 .2456 VangdGrowth VUG .6 232.18 –14.87 .3206
FT SrLoanFd FTSL 3.8 45.21 –0.28 .165 ColumbiaDivFixed DIAL 3.1 17.43 –0.32 .0491 Developed Markets ProShUltRus2000 URTY ... 43.55 –6.91 ... VangdHiDiv VYM 3.1 102.95 –3.55 .8479
FT TCW Opp FIXD 2.1 45.24 –0.38 .16 CommSvsSPDR XLC 1.2 52.14 –3.48 .1299 (VEA) ProShUltS&P500 UPRO .2 36.10 –6.06 .0354 VangdIntermBd BIV 2.2 75.60 –0.75 .1482
FT TacticalHY HYLS 7.2 40.12 –0.89 .24 CnsmrDiscSelSector XLY .7 157.94 –6.54 .3142 ProShUltShtDow30 SDOW ... 35.52 +4.01 ... VangdLC VV 1.5 177.25 –9.00 .698
iShares Core S&P
GlbXCloudComp CLOU ... 16.86 –0.88 ... CnsStapleSelSector XLP 2.5 71.33 –2.65 .5129 -4.13 ProShShtRus2000 SRTY ... 57.74 +7.02 ... VangdLT Bond BLV 3.8 75.75 –1.05 .2442
GlbXNasd100Cv QYLD 13.0 16.46 –1.05 .1813 DimenEmgCore DFAE 2.5 22.08 –0.69 .1311 Small Cap (IJR) ProShUltS&P500 SPXU ... 17.95 +2.27 ... VangdMegaGrwth MGK .6 189.14 –11.88 .2761
no

GlbX Robotics&AI BOTZ .2 19.43 –1.58 .0466 DimenEMCore2 DFEM 1.2 22.50 –0.66 .0685 ProShUltBloomCrd SCO ... 26.59 +1.03 ... VangdMC VO 1.4 205.25 –11.60 .5902
InvscActMgdETC PDBC 42.5 16.82 –0.33 1.7574 DimenIntlCore DFAI 3.0 23.46 –0.77 .3288 Vanguard Dividend ProShUltShBlmGas KOLD ... 13.31 –0.05 ... VangdMC Val VOE 2.0 133.52 –6.68 .5822
InvscBS30CpBd BSCU 2.6 16.17 –0.16 .041 DimenIntlValue DFIV 5.3 28.35 –0.66 .6704 -4.34 ProShUltDow30 DXD ... 51.20 +4.03 ... VangdRealEst VNQ 3.2 90.29 –5.52 .5695
DimenUSCore DFAU 1.3 27.20 –1.35 .0902
Appreciation (VIG)
InvscBS28CpBd BSCS 2.4 19.75 –0.19 .0439 ProShUltShEur EPV .0 16.75 +1.00 .0006 VangdS&P500ETF VOO 1.6 355.86 –17.89 1.4321
InvscBS25CpBd BSCP 1.9 20.27 –0.09 .0411 DimenUSCoreEq2 DFAC 1.4 23.98 –1.21 .0897 ProShUltShtQQQ QID ... 23.60 +2.46 ... VangdST Bond BSV 1.3 75.66 –0.42 .0976
InvscBS24CpBd BSCO 1.9 20.61 –0.07 .0408 DimenUSHiProf DUHP .6 22.98 –1.27 .0611 Vanguard Total Stock ProShUltShRus2000 TWM ... 16.90 +1.44 ... VangdSC VB 1.5 185.97 –9.38 .589
-4.80
InvscBS26CpBd BSCQ 2.2 19.07 –0.11 .0424 DimenUSMktVal DFUV 1.9 32.13 –1.30 .1524 Market (VTI) ProShUltShtS&P500 SDS ... 46.96 +4.14 ... VangdTaxExemptBd VTEB 1.9 49.11 –0.26 .0931
InvscBS23CpBd BSCN 1.4 20.92 –0.04 .0266 DimenWorldexUS DFAX 3.2 20.78 –0.68 .2814 ProShUltraSh20+ TBT ... 29.35 +0.71 ... VangdTotalStk VTI 1.6 194.63 –9.82 .7491
InvscBS22CpBd BSCM 1.4 21.22 ... .0294 DirexAeroBl3 DFEN .0 14.50 –2.20 .0017 QuadIntRtVol IVOL 4.3 23.22 –0.53 .0723 VangdTotWrldStk VT 2.4 85.71 –3.74 .5978
InvscBS29CpBd BSCT 2.4 17.92 –0.17 .0382 DirexCSIChinaInt CWEB ... 45.97 –6.65 ... SPDR S&P 500 ETF RealEstSectorSPDR XLRE 3.1 40.35 –2.69 .3124 VangdValue VTV 2.5 133.51 –5.02 .8354
-5.17
InvscIntlDivAch PID 3.7 16.75 –0.61 .1893 DirexDJBear3X WEBS ... 35.68 +5.42 ... Trust (SPY) RoundBallMeta METV ... 8.14 –0.76 ... WisdTrEMxSOE XSOE 2.6 26.96 –1.03 .375
InvscKBWBank KBWB 2.9 54.71 –2.03 .445 DirexDJBull3X WEBL ... 8.90 –1.93 ... SPDRBlackSrLoan SRLN 4.9 42.11 –0.46 .20 WisdTrEM HiDiv DEM 7.9 36.31 –0.97 .76
InvscNasd100 QQQM .6 118.93 –7.32 .2052 DirexEM Bear3 EDZ ... 16.07 +1.42 ... SPDRBlmCvSecs CWB 2.5 67.01 –1.70 .1439 WisdTrFRTrea USFR .6 50.34 +0.03 .10
InvscQQQI QQQ .6 289.32 –17.77 .5274 DirexEnergyBr2 ERY ... 40.93 +1.89 ...
Invesco QQQ Trust SPDR Blm HY Bd JNK 5.4 91.31 –2.04 .4997 WisdTrJapanHdg DXJ 3.0 64.47 –1.53 .75
-5.77
iSh3-7YTreasuryBd IEI 1.0 116.31 –0.94 .1523 DirexEnergyBl2 ERX 2.0 54.51 –3.33 .3824 (QQQ) SPDRBlmIntTrBd BWX 1.2 21.82 –0.15 .0231 XtrkrsHarvCSI300 ASHR 1.2 28.57 –1.55 .3453
iShBiotech IBB .3 122.96 –5.44 .0305 DirexChinaBr3 YANG ... 18.12 +2.28 ... SPDRBlmInvGrdFR FLRN .9 30.40 –0.01 .0753 XtrkrsMSCIHiDiv HDEF 6.6 19.57 –0.80 .2491
iShBrdUSDInvCpBd USIG 2.9 49.82 –0.48 .134 DirexChinaBl3 YINN .7 52.04 –8.78 .0674 Source: Barron’s Statistics SPDRBB1-10YTIPS TIPX 7.1 18.86 –0.18 .2347 XtrkrsMSCIEAFE DBEF 2.1 35.25 –0.92 .50
iShCoreMSCITotInt IXUS 4.2 55.08 –1.87 .9481 DirexFinlBear3 FAZ ... 23.84 +2.51 ... SPDRBlm1-3MTB BIL .3 91.51 +0.04 .1385 XtrkS&P500ESG SNPE 1.5 34.63 –1.92 .1253
iShCore1-5YUSDBd ISTB 1.7 46.71 –0.32 .0803 DirexFinlBull3 FAS .9 70.14 –9.04 .3575 SPDRBlmSTHYBd SJNK 5.2 24.45 –0.32 .1432 XtrkrsUSDHYCpBd HYLB 5.2 33.97 –0.74 .1787
 September 19, 2022 BARRON’S 51

D ATA MUTUAL FUNDS D ATA P R O V ID E D BY LIP P E R B A R R ON S .C OM / D ATA

About Our Funds
The listings include the top 1250 NOTICE TO READERS: Closed End Fund listings have moved to

Cash Track
open-end funds by assets. These
funds value their portfolios daily barrons.com/cefund. They will no longer appear in print. The
and report net asset values (the
dollar amount of their holdings Herzfeld chart has moved to the Market Lab Newsletter. To sign
divided by the number of shares
outstanding) to the National up for the newsletter, go to barrons.com/newletters. Cash Withdrawal: Investors withdrew cash from all manner of mutual funds this week. At equity funds,
Association of Securities Dealers.
Total returns reflect both price the past month’s average weekly outflow rose to $8.8 billion. Inflows at taxable-bond funds shrank to $2.7
changes and dividends; these Net YTD 3-Yr. Net YTD 3-Yr. Net YTD 3-Yr. billion, while the average outflow at muni-bond funds expanded to $1.5 billion. Flow turned negative at
figures assume that all distribu- NAV Chg. % Ret. % Ret. NAV Chg. % Ret. % Ret. NAV Chg. % Ret. % Ret.
tions are reinvested in the fund. IncoA 22.86 -0.73 -9.7 17.5 MCMultiStrM 17.66 -0.92 -19.5 25.4 EmgMktVa 27.02 -0.69 -12.3 8.3
money-market funds, with an average weekly $3.7 billion cash drain.
Because Lipper is constantly up-
dating its database, these returns IntBdA 12.58 -0.11 -7.1 -0.3 NtlIntmMuni 12.61 -0.08 -8.8 -2.2 EmMktCorEq 20.33 -0.59 -18.0 7.3
may differ from those previously IntlGrIncA 29.95 -0.84 -22.8 0.0 Bridge Builder Trust: EmMktSmCp 20.75 -0.51 -16.3 18.1 Equity Funds Municipal Bond Funds
published or calculated by others. LtdTEBdA 14.96 -0.08 -5.8 -1.1 CoreBond 8.98 -0.09 -12.4 -4.6 Fixd 10.06 -0.02 -1.7 -0.8
3 year returns are cumulative. The N PerA 49.07 -2.22 -26.1 26.4 CorePlusBond 8.90 -0.10 -12.7 -3.4 GblAll60 40Inst 18.92 -0.55 -13.7 14.6 5000 700
NAV is the last reported closing NEcoA 44.10 -2.00 -28.7 14.5 GlEqInst 26.58 -1.18 -17.3 24.5
price for the week. Footnotes: NA: Intl Eq 10.21 -0.35 -23.7 -3.9
not available. NE: performance NwWrldA 65.00 -2.67 -24.4 6.9 LargeCapGrowth 17.71 -0.97 -24.7 35.9 GlRESec 10.68 -0.51 -20.6 0.0 1400 -600

.
excluded by Lipper editor. NN: fund SmCpA 55.78 -2.39 -30.3 15.1 LargeCapValue 15.43 -0.62 -10.0 31.5 InfProtSec 11.58 -0.14 -9.8 7.3
not tracked. NS: fund not in STBFA 9.50 -0.05 -3.8 -0.6 MunicipalBond 9.66 -0.06 -8.8 -1.9 IntGvFxdInc 11.11 -0.11 -11.6 -6.4 -2200 -1900

ly
existence for whole period. e: ex TECAA 16.06 -0.10 -10.8 -3.9 IntlCoreEq 12.68 -0.40 -20.1 6.2
capital gains distributions. f: S/MCapGrowth 12.24 -0.64 -27.1 20.1
previous day’s quote. n: no front- TxExA 11.98 -0.07 -10.3 -3.0 S/MCapValue 12.91 -0.59 -12.4 23.9 IntlREst 3.68 -0.11 -22.4 -15.4 -5800 -3200
or back-end sales charge. p: fund WshA 50.85 -2.11 -12.4 29.3 Brown Advisory Funds: IntlSustCore1 9.92 -0.34 -23.9 3.7
assets are used to pay marketing AMG Managers Funds: GrwthEquityInst 23.83 -1.60 -31.8 16.8 IntlVal 16.65 -0.35 -11.3 9.3 -9400 -4500
and distribution costs (12b-1 fees). IntlVectorEq 11.09 -0.34 -19.4 6.9
r: fund levies redemption fee or YachtmanFocFd I 18.27 -0.52 -13.5 25.3 Jul Aug Sep Jul Aug Sep
IntSmCo 16.59 -0.55 -23.4 6.1

on
back-end load. s: stock dividend or YacktFocFd N n 18.32 -0.51 -13.6 24.7 C
split of 25% or more. t: fund charges YacktmanFd I 21.62 -0.61 -11.8 28.2 IntSmVa 17.45 -0.49 -17.8 5.4
12b-1 fees (for marketing and Angel Oak Funds Trst: Calamos Funds: IntTermMuni 9.84 -0.05 -4.7 -0.7 Money Market Funds Taxable Bond Funds
distribution) and a back-end load.
v: capital-gains distribution may be AglOkMtiStFdClIn 9.14 NA NA NA MktNeutA 13.90 -0.15 -5.3 5.2 IntVaIII 14.31 -0.30 -11.3 9.7 12000 4600
a return of capital. x: ex cash AQR Funds: MktNeutI 13.73 -0.16 -5.2 6.0 ITExQual 9.27 -0.09 -16.1 -7.5
dividend. Calvert Investments: LgCo 27.65 -1.37 -17.8 35.5 8000 0
LgCapDefStyle I26.60 NA NA NA
Eq A 66.75 -3.53 -19.5 36.3 LgCpIntl 21.67 -0.70 -19.7 5.2
Net YTD 3-Yr. ArbitrageI :
STExQual 10.22 -0.05 -5.5 -3.3

us ,
NAV Chg. % Ret. % Ret. ArbitrageI 13.15 -0.08 -1.1 7.0 Carillon Scout: 4000 -4600
STGov 9.85 -0.03 -4.8 -5.2
Ariel Investments: MidCap I 20.42 -1.05 -16.3 28.9

l
A STMuniBd 10.05 -0.01 -0.8 0.3
Ariel Inv n 66.92 -3.84 -19.9 21.3 CausewayInst :
US CoreEq1 30.31 -1.49 -16.2 34.0
0 -9200

e
CausewayInst 14.39 -0.28 -17.3 4.6

al a
AAM: Artisan Funds: US CoreEq2 27.49 -1.37 -16.2 34.1
CIBC Atlas: US Micro 23.23 -0.91 -15.1 26.9
-4000 -13800
B&GIncGroClI 21.97 -0.87 -12.9 22.3 GblOppInst 27.28 -1.51 -27.9 24.5
AB Funds: Intl Inv n 22.62 -0.71 -25.8 -6.5 DispEq Inst 25.23 -1.42 -18.5 31.3 US Small 39.37 -1.66 -15.9 28.2 Jul Aug Sep Jul Aug Sep
IntlInst 22.78 -0.72 -25.7 -5.8 ClearBridge: US SmCpVal 39.49 -1.55 -8.7 37.9
CapFdInc.LCapGow 71.56 -4.46 -27.6 37.5

ci on
IntlVal Inst 35.43 -1.04 -16.0 16.7 AggressGrowthA115.06 -4.59 -22.5 7.8 US TgdVal 27.24 -1.20 -9.3 37.4 A red chart indicates a lower value than the starting period. Green means it's higher than the starting period.
IntlStraEquPtZ 10.52 -0.30 -20.8 -1.2
IntlVal Inv n 35.34 -0.97 -16.2 15.9 AllCapValueA 12.86 -0.55 -9.2 18.9 USLCpGr 26.23 -1.40 -19.2 34.9 The charts above show four-week moving averages of net cash flow in millions of dollars. BARRON'S • Lipper FMI
MuniIncmShares 10.89 -0.11 -13.1 0.8
AB Funds - A: MidCapInst 37.21 -2.22 -29.9 28.8 AppreciationA 28.43 -1.32 -14.9 29.5 USLgVa 40.62 -1.75 -10.9 21.3
MidCapInv n 31.16 -1.86 -30.0 27.9 DividendStrat1 n 26.80 -1.11 -11.4 28.7 USLgVaIII 26.88 -1.16 -10.9 21.7
LgCpGrA 63.84 -3.98 -27.7 36.2 Net YTD 3-Yr. Net YTD 3-Yr. Net YTD 3-Yr. Net YTD 3-Yr.
DividendStratA 26.77 -1.11 -11.6 27.6 USSoCoreEq2 19.72 -1.07 -19.1 28.5
RelatValA 5.92 -0.27 -10.3 24.3 B NAV Chg. % Ret. % Ret. NAV Chg. % Ret. % Ret. NAV Chg. % Ret. % Ret. NAV Chg. % Ret. % Ret.
LargeCapGrowthA45.08 -2.99 -30.6 18.4 USSustCoreI 29.94 -1.49 -19.1 35.4
AB Funds - ADV: GlexUSIdxInstPre n 12.12 -0.38 -20.7 1.9 FF2020 n 13.15 -0.34 -16.5 8.7 Eq Inc n 62.97 -2.17 -9.6 28.8 StratDivInc n 15.64 -0.45 -11.2 23.9
LargeCapGrowthI 51.83 -3.44 -30.5 19.4 USVectorEq 21.47 -0.99 -13.0 29.0
GlbBd 7.27 -0.05 -10.8 -6.6 Baird Funds: LargeCapValueI 34.90 -1.43 -11.3 27.0 Dodge & Cox: GrowthCompanyK6 16.12 -0.91 -29.5 61.1 FF2025 n 12.04 -0.34 -17.3 10.2 EqDivIncm n 26.05 -0.86 -5.6 26.4 TaxFrB n 10.57 -0.09 -11.3 -3.2
HiIncmAdv 6.67 -0.13 -12.2 -1.8 AggBdInst 9.76 -0.09 -12.9 -5.6 InflPrBdIndInsPr n 10.07 -0.11 -9.8 7.0 FF2030 n 15.00 -0.45 -17.9 12.7 Fidel n 59.42 -3.37 -24.7 38.7 TotalBond n 9.52 -0.10 -12.3 -2.9

er s
SmallCapGrowthIS 37.51 NA NA NA Balanced n 96.77 -2.92 -10.1 21.9
IntlStraEquPtADV 10.51 -0.30 -20.7 -1.2 CorBdInst 10.01 -0.10 -12.7 -4.6 Cohen & Steers: IntlIdxInstPrem n 38.63 -1.21 -21.6 1.6 FF2035 n 12.83 -0.45 -19.1 16.6 FltRateHi n 9.09 -0.04 -1.3 7.6 TotalBond K6 8.87 -0.09 -11.9 -2.1
Dodge & Cox n 10.24 -0.09 -10.4 2.5
LgCpGrAdv 71.68 -4.46 -27.6 37.3 IntBdInst 10.19 -0.07 -8.5 -2.1 IntlIndex n 9.46 -0.30 -21.1 2.4 FF2040 n 9.03 -0.36 -20.0 19.0 FocsdStk n 26.27 -1.41 -24.3 40.0 Trend n 119.63 -7.48 -29.9 39.7
GlbRltyI 51.15 -2.60 -22.0 0.3 GblStock n 13.01 -0.53 -9.9 24.2
To reprint or license content, please contact Barron's reprints department at 800-843-0008 or www.djreprints.com

NationalPtf 9.49 -0.06 -10.2 -2.0 ShtTBdInst 9.26 -0.04 -4.1 0.5 IntrTresBdIxPrem n 9.77 -0.09 -11.5 -6.1 FF2045 n 10.35 -0.41 -20.1 18.9 FournOne n 47.76 -1.79 -19.4 17.1 Value n 12.99 -0.83 -11.6 39.8
InstlRlty 46.75 -3.04 -19.7 13.6 Income n 12.40 -0.12 -10.8 -1.8
SelectUSLgShrt 13.20 -0.29 -9.1 23.8 Baron Funds: LgCpGwId InstPre n 22.12 -1.26 -25.2 44.9 FF2050 n 10.46 -0.42 -20.1 18.9 GNMA n 10.26 -0.13 -10.5 -7.1 ValueDisc n 33.56 -1.11 -8.6 32.0
SmMidCpValAdv 21.61 -1.17 -16.8 21.6 Asset n 82.88 -5.03 -29.4 12.8
m er
PrefSecIncnI
RltyIncI
12.15 -0.05 -11.0
16.91 NA NA
1.4
NA
Intl Stk n
Stock n
41.33 -1.06 -12.6
214.77 -9.52 -11.3
7.7
34.4
LgCpVlIdxIstPrem n 14.47 -0.64 -11.0 22.0 Free2055 n 12.11 -0.48 -20.1 19.0 GovtInc n
GroCo n
9.31 -0.09 -11.6
25.67 -1.47 -29.6
-7.2
60.3
Wrldw n 26.75 -1.29 -25.5 26.6
Aberdeen Fds: Growth n 85.78 -4.37 -26.1 24.7 LTTrsBdIdxInstPr n 10.80 -0.14 -25.5 -17.6 Free2060InstPrem 13.79 -0.54 -19.5 16.5 Fidelity SAI:
RltyShs n 65.29 -4.25 -19.8 12.9 DoubleLine Funds:
EmMktEqty Inst 12.44 -0.44 -27.8 -6.0 MidCpInxInstPrem n 26.08 -1.39 -17.8 24.8 Freedom2015 K 10.60 -0.23 -14.8 7.4 GroInc n 45.64 -1.95 -9.7 34.1 FidSAIEmgMktIndx 12.30 -0.38 -21.5 -2.3
Partners n 159.94 -3.96 -19.6 201.5 Colorado BondShares: CoreFxdIncmI 9.48 -0.08 -11.4 -5.7
Advisers Inv Trst: OTCK6Port 14.67 -0.83 -29.4 46.2 Freedom2020 K 13.15 -0.33 -16.5 9.0 GrowCoK 25.78 -1.47 -29.6 60.6 FidSAIIntlIndxFd 11.08 -0.35 -21.7 1.3
Baron Instl Shares: ColoradoBdShs 8.68 -0.07 -4.9 5.9 LowDurBdI 9.47 -0.03 -2.9 0.6 RealEstIdxInst n 15.74 -0.96 -21.1 -1.3 Freedom2020K6 13.10 -0.33 -16.4 9.3 GrStrt n 46.47 -2.81 -26.8 24.8 IntlValIdx 7.82 -0.17 -15.6 -0.8
Balanced n 78.69 NA NA NA AssetInst 87.45 -5.31 -29.3 13.7 Columbia Class A: ShillerEnhCAPEI 14.25 -0.80 -18.6 26.6 SAIUSLgCpIndxFd 17.46 -0.86 -17.8 35.6 Freedom2025 K 12.03 -0.34 -17.3 10.5 GwthDiscovery n 42.32 -2.38 -21.7 52.2 LowDurationInc 9.91 0.00 -0.2 NS
Growth n 94.40 NA NA NA EmergingMktsInst 12.87 -0.46 -26.8 -4.0 TotRetBdI 9.11 -0.07 -10.4 -6.0
m rp
BalancedA 43.09 -1.50 -15.4 20.4 SeriesBondFd 9.01 -0.09 -12.3 -6.3 Freedom2025K6 12.00 -0.33 -17.2 10.8 HighInc n 7.40 -0.18 -12.0 -4.2 SAIEmgMktLoVolIx 9.93 -0.18 -13.3 5.4
Akre Funds: GrowthInst 90.00 -4.59 -26.0 25.6 TotRetBdN n 9.10 -0.07 -10.6 -6.7
ContCoreA 27.24 -1.40 -17.3 35.4 SeriesOverseas 10.26 -0.44 -28.7 8.1 Freedom2030 K 14.99 -0.46 -17.8 12.9 IntBd n 9.97 -0.08 -8.5 -2.2 SAIInflaFocFd 10.43 -0.22 14.6 55.4
AkreFocusInst 51.22 -3.57 -22.6 20.5 PartnersInst 165.83 -4.10 -19.5203.8 SerLTTreBdIdx 6.23 -0.08 -25.6 -17.8 IntlDisc n 37.85 -1.31 -28.5 6.6
DisplCoreA 11.79 -0.68 -18.7 31.7 Freedom2030K6 14.95 -0.45 -17.7 13.4 ShortTermBd 9.50 -0.04 -3.8 NS
AkreFocusRtl 49.53 -3.45 -22.8 19.6 SmallCapInst 28.88 -1.72 -28.6 23.8 E IntlEnhIdx n 8.81 -0.25 -20.9 2.4
DivIncA 28.09 -1.04 -10.4 29.6 SmCpIdxInstPrem n 22.32 -1.04 -19.0 18.0 Freedom2035 K 12.82 -0.45 -19.0 16.9 TotalBd 9.02 -0.10 -11.9 -2.4
Alger Funds Inst: Bernstein Fds: STBdIdx InstPrem n 9.50 -0.06 -5.6 -1.4 IntlGrRet n 15.06 -0.76 -28.5 6.5
DivOpptyA 35.27 -1.21 -6.4 25.7 Eaton Vance Class A: Freedom2035K6 12.80 -0.44 -18.9 17.5 TxFreeBd 9.62 -0.08 -10.8 -4.0
CapApprI 28.52 -1.56 -30.8 26.2 DivrMuni n 13.60 -0.07 -6.7 -0.5 LgCpGrowA 43.83 -2.66 -28.3 36.2 STTreIdx InstPre n 9.90 -0.06 -5.6 -1.9 Freedom2040 K 9.04 -0.35 -19.9 19.4 IntMu n 9.84 -0.06 -7.5 -1.1
TMG1.1 75.12 -3.89 -19.9 32.7 U.S.TreBdIdx 8.82 -0.07 -11.4 -6.4
AmanaGrowth n: IntmDur n 11.46 -0.10 -12.9 -6.7 TMktIdxInstPrem n 108.44 -5.41 -18.8 33.0 InvGB n 7.21 -0.07 -12.5 -3.3
For personal non-commercial use only. Do not edit or alter. Reproductions not permitted.

LgCpVl A 15.29 -0.61 -9.8 26.1 Freedom2040K6 9.00 -0.35 -19.9 19.9 USMomentumIdx 13.42 -0.43 -19.8 34.4
AmanaGrowth n 56.78 -3.47 -22.8 46.3 NY Mun n 13.11 -0.06 -6.8 -1.6 Eaton Vance Class I: TotalMarketIndex n 13.66 -0.68 -18.6 33.6 InvGrBd 10.04 -0.09 -12.0 -2.2
LiGoBalA 9.94 -0.35 -17.9 10.8 Freedom2045 K 10.34 -0.42 -20.1 19.2 USValueIndex 10.37 -0.46 -7.0 26.1
Amer Beacon Insti: BlackRock Funds: SelgComuInfoA 92.16 -5.83 -28.8 61.4 AtlCpSMID 35.98 -1.78 -12.8 22.6 TtlIntIdxInstPr n 11.32 -0.36 -21.1 2.7 Freedom2045K6 10.31 -0.41 -20.0 19.9 LargeCap n 36.30 -1.72 -11.9 32.6
Fidelity Selects:
co o

SmCpInst 25.30 -1.09 -11.8 24.8 CoreBd Inst 8.37 -0.10 -13.1 -5.9 TaxEA 11.55 -0.10 -13.0 -6.3 FloatRtHiInc 8.17 NA NA NA USBdIdxInstPrem n 10.35 -0.10 -12.3 -6.2 Freedom2050 K 10.46 -0.42 -20.1 19.3 LCapCrEIdx n 18.08 -0.91 -16.2 39.9
FltgRt 8.31 -0.05 -2.8 5.3 LCapGrEIdx n 24.10 -1.37 -23.2 47.5 Biotech n 15.99 -0.59 -17.4 18.2
American Century G: CreStraInc Inst 8.73 -0.13 -10.5 -2.7 Columbia Class Adv: USSusIdx n 16.87 -0.91 -20.4 34.6 Freedom2050K6 10.44 -0.42 -20.0 19.8
GblMacAbR 7.97 0.00 -4.5 4.7 LevCoSt n 33.42 -1.72 -20.6 39.1 DfAero n 13.52 -0.63 -7.4 -10.9
HiYBlk 6.70 -0.16 -11.2 2.1 DivIncom 28.65 -1.05 -10.2 30.6 Fidelity Adv Focus A: Freedom2055 K 12.11 -0.49 -20.0 19.3
GlBond 9.04 -0.04 -11.1 -6.3 IncBos 4.88 -0.11 -9.3 3.1 LgCpVHIdx n 14.35 -0.60 -10.5 27.7 Energy n 51.60 -1.33 46.4 52.3
Sustain Equity 38.80 -1.96 -19.9 36.6 HiYldBd Inst 6.70 -0.15 -11.3 1.9 Columbia Class I: HthCarA 57.15 -2.05 -14.0 35.6 Freedom2055K6 12.09 -0.49 -20.0 19.8 Health n 27.27 -0.98 -13.9 40.6
NatlMuniInc 9.03 -0.05 -10.8 -2.6 LmtTrmMuniIncm n 10.13 -0.04 -5.1 -0.6
F

American Century I: InflProtBdInst 10.05 -0.11 -9.1 8.7 Acorn I 9.36 -0.62 -30.9 3.8 TechA 68.04 -4.13 -32.4 61.8 Idx2020InsPre 14.43 -0.36 -16.0 7.2 HlthCareSrvPt r n 135.30 -2.57 2.6 74.2
LowDurI Inst 9.01 -0.06 -5.0 -1.1 Edgewood Growth Instituti: Fidelity Advisor: Idx2025InsPre 16.23 -0.45 -16.8 8.6 LowP n 44.33 -1.35 -11.5 34.0
EqInc 9.10 -0.25 -6.7 16.5 Balanced I 43.01 -1.49 -15.2 21.3 LowPriStkK 44.27 -1.35 -11.4 34.3 ITSvs n 53.32 -3.22 -27.8 3.1
BlackRock Funds A: EdgewoodGrInst 36.43 -2.62 -39.8 15.8 SrsAdvIntlCapApp22.40 -1.21 -29.6 5.3 Idx2030InsPre 17.05 -0.51 -17.4 10.8
Growth 39.38 -2.21 -27.5 36.7 ContCore I 27.57 -1.41 -17.2 36.4 LowPriStkK6 13.32 -0.38 -10.7 34.9 MdTchDevis n 60.12 -3.38 -26.6 30.8
AdvLgCapCore 15.32 -0.77 -20.3 31.6 StragInc n 11.01 -0.16 -11.3 1.1 Idx2035InsPre 18.86 -0.65 -18.5 14.2 Retail n 16.37 -0.99 -27.6 26.7
IntTF 10.64 -0.07 -8.5 -0.7 DivIncom I 28.13 -1.03 -10.2 30.5 F LtdTmBdFd n 10.84 -0.06 -6.1 -1.5
CapAppr 24.47 -1.57 -32.9 22.2 TotBdFdClZ 9.51 -0.10 -12.2 -2.5 Idx2040InsPre 19.05 -0.74 -19.4 16.7 Semiconductors r n 14.94 -0.92 -34.9 74.5
MdCapVal 15.68 -0.62 -6.6 24.8 LgCpIdx I 48.22 -2.40 -17.9 34.9 Magin n 11.00 -0.74 -25.6 29.6
EqtyDivd 18.46 -0.58 -7.2 24.0 Fidelity Advisor A: Idx2045InsPre 19.77 -0.78 -19.5 16.5 Softwr n 20.81 -1.63 -28.1 34.4
SmCapVal 9.22 -0.45 -16.5 32.2 MdCpIdx I 13.66 -0.67 -15.4 25.8 FAM Value: MAMun n 11.09 -0.07 -10.0 -3.5
GlblAlloc 16.46 -0.37 -16.0 13.8 BalancA 23.47 -0.91 -17.7 26.2 Idx2050InsPre 19.81 -0.77 -19.4 16.6 Tech n 18.90 -1.16 -33.1 53.2
American Century Inv: SelComunInfo 105.42 -6.66 -28.7 62.7 FAMValue n 83.08 -3.56 -16.6 19.3 Manager40 n 11.97 -0.28 -13.8 9.8
HlthScOp 61.35 -1.77 -12.2 32.9 EqGrA p/r 13.48 -0.75 -21.8 51.5 Idx2055InsPre 16.29 -0.64 -19.4 16.5 UtilGr n 110.64 -3.59 8.0 32.1
DiscCoreVal n 29.81 -1.52 -16.0 24.6 SmCpIdx I 23.58 -0.99 -17.6 21.4 Federated Hermes A: Manager60 n 13.49 -0.42 -16.6 14.6
MdCpGrA 26.41 -1.87 -35.4 11.1 GrOppA 97.36 -5.22 -32.2 40.6 Idx2020 Premier 14.42 -0.37 -16.1 NS Fidelity Series:
EqGro n 24.24 -1.21 -21.7 21.6 StratInc I 21.12 -0.16 -10.1 0.5 MidCap n 36.75 -1.48 -8.8 37.1
MultiAstIncome 9.65 -0.19 -12.2 2.2 StrValDivA p 5.87 -0.13 2.5 21.1 NwInsghtA 29.10 -1.59 -26.6 20.6 Idx2025 Premier 16.22 -0.46 -16.9 NS
EqInc n 9.09 -0.24 -6.7 15.9 TotReBd I 30.87 -0.31 -15.3 -3.3 MidCapEnIdx n 15.62 -0.85 -16.1 27.5 Canada 13.42 -0.54 -7.6 29.0
NatlMuni 9.83 -0.10 -12.1 -5.9 Federated Hermes Int: StrInA 10.85 -0.16 -11.5 0.2 Idx2030 Premier 17.05 -0.50 -17.3 NS
Grwth n 38.23 -2.14 -27.7 35.9 Columbia Class I2: MuniInc n 11.80 -0.10 -11.5 -3.5 IntMuni Z 9.86 -0.06 -7.4 -1.0
ScTechOppA 38.31 -2.14 -36.3 41.2 InsHiYld 8.44 NA NA NA Fidelity Advisor Fun: Idx2035 Premier 18.86 -0.65 -18.5 NS
Heritage n 18.72 -1.11 -26.4 23.0 DivIncom 28.62 -1.05 -10.2 30.8 NASDAQ n 145.14 -8.37 -26.3 43.6 FidelityAdviAsset:
TotRet 10.11 -0.11 -13.3 -5.5 TtlRtnBdI 9.68 NA NA NA Idx2040 Premier 19.04 -0.74 -19.4 NS
MdCapVal n 15.66 -0.61 -6.8 24.0 Columbia Class I3: InterDiscZ 37.69 -1.30 -28.4 6.9 NewInsights Z 30.41 -1.65 -26.4 22.0 ADVAssetMan60 13.48 -0.42 -16.6 14.7
BlackRock Funds III: Federated Hermes IS: Idx2045 Premier 19.77 -0.78 -19.4 NS
OneChMod n 13.94 -0.41 -17.3 12.8 ContCore I3 28.25 -1.44 -17.1 36.9 Fidelity Advisor I: NewMill n 39.50 -1.40 -5.7 30.9 First Eagle Funds:
Idx2050 Premier 19.80 -0.78 -19.4 NS
Select n 89.94 -4.99 -22.9 41.9 iShS&P500IdxK455.90-22.63 -17.8 35.6 KaufmnLCIS 25.25 -1.52 -28.4 12.7 BalancI 24.06 -0.93 -17.5 27.2 NewMkt n 11.35 -0.17 -17.7 -12.7
DivIncom 28.67 -1.05 -10.2 31.0 Income n 10.24 -0.14 -11.2 2.1 GlbA 56.37 -2.11 -12.6 10.3
Ultra n 64.18 -3.51 -26.7 49.2 iShUSAggBdIdxK 9.07 -0.08 -12.2 -6.1 KaufmnSCI 42.63 NA NA NA ConsvIncmMuni I 9.96 -0.01 -0.4 1.2 OTC n 13.37 -0.74 -29.3 44.6
Columbia Funds:
n-

Fidelity Invest: OverseasA 21.74 -0.60 -14.1 -0.2

American Century R6: BlackRock Funds Inst: StraValDivIS 5.91 -0.14 2.8 22.0 FltRatel 9.08 -0.04 -1.4 7.4 OTC K 13.66 -0.76 -29.3 45.0
UltShortBd Inst3 8.95 -0.01 -0.1 2.5 AggrInt n 19.99 -1.08 -29.6 5.4 FPA Funds:
AdvLgCapCore 16.20 -0.82 -20.2 32.6 UltraShortI 8.98 NA NA NA GrOppI 107.65 -5.77 -32.0 41.7 Ovrse n 47.42 -2.09 -30.0 5.1
MdCapVal 15.68 -0.62 -6.6 25.3 Credit Suisse Common: AilSectEq 9.25 -0.45 -18.1 43.0 NwInc n 9.58 -0.02 -2.9 1.1
CAInsMun 11.59 -0.09 -10.1 -3.3 FedMuniUl A 9.88 -0.01 -1.0 0.9 HthCarI 63.36 -2.27 -13.9 36.7 PuritanK 22.37 -0.74 -17.1 26.5
SmCpVal 9.23 -0.44 -16.4 33.0 ComdtyRet 28.25 NA NA NA AMgr20% n 13.21 -0.18 -10.1 4.3 FPA Funds Trust:
EmgMkts 22.07 -0.71 -26.0 1.4 Federated Hermes R: IntlGr 15.02 -0.76 -28.5 6.5 Puritn n 22.39 -0.74 -17.1 26.3
American Funds Cl A: AMgr50% n 18.75 -0.51 -15.3 12.2
EqtyDivd 18.55 -0.59 -7.0 24.9 KaufmnR 4.82 -0.19 -28.1 0.0 NwInsghtI 30.27 -1.64 -26.4 21.5 RealE n 41.71 -2.30 -19.3 6.6 FPACres Inst n 32.59 -0.96 -11.2 19.0
2020TarRetA 12.46 -0.29 -12.6 11.0 D AMgr70% n 23.84 -0.82 -17.5 17.4 RealEstInc n 11.75 -0.25 -11.5 6.7 Franklin A1:
FloRateIncPorIns 9.48 -0.04 -1.6 6.8 Federated Hermes R6: REIncmInst 11.70 -0.24 -11.5 6.7
2025TarRetA 13.79 -0.35 -14.3 13.3 AMgr85% n 21.50 -0.87 -19.4 21.2 SAIIntlMinVolInd 9.59 -0.20 -17.3 -6.0
no

GlblAlloc 16.62 -0.37 -15.9 14.8 Davis Funds A: FedInstHYBondL 8.37 NA NA NA StrInI 11.01 -0.16 -11.4 0.9 CA TF A1 6.67 -0.05 -12.1 -4.5
2030TarRetA 14.95 -0.44 -16.0 15.0 AstMgr30R n 11.20 -0.21 -12.2 7.0 SAILTTreBdIdx 8.17 -0.10 -26.9 -18.6 Fed TF A1 10.53 -0.09 -12.5 -4.3
HlthScOp 65.48 -1.89 -12.1 33.9 NYVen A 21.92 -1.07 -20.1 6.8 StrValL 5.91 -0.13 2.8 22.1 Total Bd 9.51 -0.10 -12.2 -2.9
2035TarRetA 16.05 -0.53 -17.8 18.6 Balanc n 24.95 -0.96 -17.4 27.5 SAIUSMinVolIndFd 16.73 -0.68 -13.5 22.6 HiInc A1 1.62 -0.03 -10.7 2.5
MdCpGrEq 31.04 -2.19 -35.3 12.0 TtlRtnBdL 9.67 NA NA NA Fidelity Advisor M:
2040TarRetA 16.65 -0.62 -19.2 19.6 Davis Funds C & Y: BalancedK 24.95 -0.96 -17.4 27.8 SAIUSQtyIdx 15.10 -0.90 -19.7 37.2
MultiAstIncome 9.66 -0.19 -12.1 3.0 Fidelity: Balanced 23.82 -0.92 -17.8 25.3 HY TF A1 8.78 -0.10 -13.8 -3.3
2045TarRetA 17.01 -0.65 -19.8 19.6 NYVenY 22.74 -1.12 -20.0 7.6 BluCh n 124.27 -6.87 -32.0 49.8 SmCapDisc n 22.95 -1.16 -19.1 24.0 IncomeA1 2.26 -0.05 -7.0 15.9
NatlMuni 9.83 -0.09 -12.0 -5.1 500IdxInstPrem n 134.89 -6.70 -17.8 35.7 EqGr 13.03 -0.72 -21.9 50.6
2050TarRetA 16.68 -0.65 -20.5 19.0 Del Invest Instl: BluChpGr K6 19.02 -1.04 -31.7 52.5 SmlCapO n 11.53 -0.65 -19.4 23.9 NY TF A1 9.66 -0.07 -13.1 -6.3
ScTechOppInst 42.09 -2.36 -36.1 42.2 Contrafund K6 17.15 -0.90 -26.2 30.7 GrOppM 95.91 -5.16 -32.3 39.6
AmcpA 30.73 -1.58 -27.2 18.6 Value 19.18 -0.65 -8.7 17.1 BluChpGrK 124.79 -6.89 -32.0 50.2 SmlCpGrth n 24.12 -1.30 -23.9 22.9 US Gov A1 5.18 -0.06 -9.5 -8.0
AMutlA 48.23 -1.78 -8.1 27.0 StratIncOpptyIns 9.42 -0.06 -5.4 4.3 EmgMktIdxInstPre n 9.51 -0.29 -21.3 -1.9 NwInsghtM 27.37 -1.50 -26.7 19.7
Deutsche DWS: CAMun n 11.78 -0.07 -10.1 -3.4 SmlCpGrth Z 24.34 -1.32 -23.8 23.3 Utils A1 22.93 -0.81 5.4 26.0
BondA 11.56 -0.12 -12.0 -2.3 StratMuniOppI 10.31 -0.08 -12.5 -5.5 ExtMktIdxInstPre n 66.05 -3.42 -23.9 19.8 Fidelity Advisor Z: CapAp n 35.40 -1.92 -19.8 45.0 SmlCpVal n 17.44 -0.79 -14.8 35.5 Franklin Templeton:
BalA 28.39 -0.92 -13.8 16.9 TotRet 10.11 -0.10 -13.1 -4.6 CoreEq n 28.06 -1.43 -16.1 31.8 FidAdAsset 13.20 -0.19 -10.1 4.3 AssetManager50% 18.70 -0.50 -15.2 12.4 CapDevO n 17.48 -0.82 -11.9 32.3 Srs1000ValIndRet 13.77 -0.61 -11.0 22.1
CapIBA 61.39 -1.89 -10.8 11.9 BNY Mellon Funds: MgdMuniS n 7.93 -0.07 -12.4 -5.3 FidAdEm 31.33 -1.26 -28.1 NS AsstMngr70 23.81 -0.83 -17.4 17.7 TgtModA 12.99 NA NA NA
CnvSc n 31.50 -0.77 -13.1 45.8 SrsBlChGroRetail n 10.93 -0.59 -31.5 51.8
CapWA 15.90 -0.20 -19.0 -14.9 Aprec n 37.80 -2.07 -20.5 37.2 Diamond Hill Funds: FidSAI 8.64 -0.19 -10.9 NS CorporateBond 10.20 -0.12 -16.1 -6.0 FrankTemp/Frank Adv:
Contra n 13.57 -0.76 -26.7 31.0 SrsCommStrt 2.19 -0.03 18.1 45.8
CapWGrA 49.35 -2.10 -21.4 12.7 Dr500In n 49.05 -2.44 -18.1 33.7 LgCapI 30.36 -1.39 -14.9 24.8 FidSAIEmerg 11.04 -0.27 -19.4 NS FloatRateHighInc 9.09 -0.03 -1.2 7.7 ContraK 13.62 -0.77 -26.7 31.3 SrsEmrgMkt 15.68 -0.51 -25.4 -1.3 CA TF Adv 6.66 -0.05 -11.9 -4.2
EupacA 46.83 -1.98 -27.3 1.6 Dreyf n 13.55 -0.77 -18.0 42.5 LgCapY 30.42 -1.39 -14.8 25.3 FidSer5 8.52 -0.14 -15.9 NS GrOpp 109.00 -5.84 -32.0 42.2 CpInc n 9.19 -0.22 -11.1 13.3 SrsGlobal 11.94 -0.38 -20.7 1.9 CvtScAdv 20.82 -0.43 -15.9 38.7
FdInvA 59.82 -2.95 -19.0 24.8 DreyMid r Inv n 30.12 -1.47 -15.6 24.9 LongShortI 26.23 -0.78 -8.5 12.1 FidSer0-5 9.85 -0.05 -2.0 NS InvestGradeBd 7.22 -0.08 -12.4 -3.0 DisEq n 47.97 -2.98 -26.5 32.3 SrsIntlGrw 13.77 -0.69 -28.0 10.3 Dynat Adv 104.80 -7.00 -35.0 23.1
GBalA 31.47 -0.81 -17.4 5.3 GlFxIncI 19.55 NA NA NA Dimensional Fds: FIDSerEmgMkt 7.79 -0.26 -25.9 -9.4 NewMktsIncFdZ 11.35 -0.17 -17.7 -12.5 DivGth n 28.69 -1.18 -14.1 23.6 SrsGroCoRetail 14.54 -0.82 -28.8 66.9 Growth Adv 114.46 -6.82 -24.4 29.9
GovtA 12.54 -0.13 -9.4 -1.0 InstS&PStkIdx I 62.48 -3.11 -17.9 35.0 2TGlFxd 9.57 -0.04 -3.1 -2.1 FidSerInt 8.69 -0.01 -11.5 NS RE Income 11.69 -0.25 -11.5 7.1 DivIntl n 34.64 -1.30 -28.6 5.7 SrsIntlSmCp 14.54 -0.64 -32.0 7.5 IncomeAdv 2.24 -0.05 -6.9 16.5
GwthA 54.52 -2.52 -26.6 31.2 IntlStkI 19.57 -0.74 -27.4 5.4 5GlbFxdInc 9.98 -0.05 -6.7 -6.0 FidSerToMarket 12.91 -0.64 -18.8 33.1 StkSelAllCap 56.05 -2.88 -18.6 36.2 DivIntl K6 11.10 -0.42 -28.0 7.5 SrsIntlVal 9.30 -0.20 -16.7 9.9 RisDv Adv 81.53 -3.77 -15.3 32.3
HI TrA 9.13 -0.21 -10.1 6.0 IntlStkY 19.33 -0.74 -27.4 5.5 DFARlEst 41.52 -2.42 -19.6 10.0 FIDZroLgCpIx n 13.71 -0.68 -18.7 35.2 Fidelity Freedom: DivIntlK 34.59 -1.30 -28.5 6.0 STBF n 8.22 -0.04 -3.9 -0.2 SmCpValAdv 52.24 -1.90 -14.6 21.1
HiInMuniA 14.53 -0.15 -12.1 -1.8 SmMidCpGrI 23.08 -1.33 -32.3 20.5 EmgMkt 25.52 -0.77 -18.3 3.8 Flex 500 Index 16.58 -0.82 -17.8 35.8 FF2010 n 13.14 -0.24 -13.3 5.5 DivStkO n 28.14 -1.31 -19.7 42.5 StkSelSmCp n 27.61 -1.51 -19.6 30.9 Utils Adv 23.16 -0.82 5.4 26.6
ICAA 41.34 -2.01 -18.2 26.6 BNY Mellon Funds Tru: EmgMktSoCoEq 12.69 -0.35 -19.9 2.6 Freedom2060K 11.11 -0.44 -20.1 19.3 FF2015 n 10.61 -0.23 -14.9 7.2 EmrMkt n 31.35 -1.25 -28.2 7.0 StkSlcACap n 56.46 -2.90 -18.6 35.8 FrankTemp/Franklin A:
 52 BARRON’S September 19, 2022

D ATA MUTUAL FUNDS D ATA P R O V ID E D BY LIP P E R B A R R ON S .C OM / D ATA

Net YTD 3-Yr. Net YTD 3-Yr. Net YTD 3-Yr. Net YTD 3-Yr. Net YTD 3-Yr. Net YTD 3-Yr. Net YTD 3-Yr. Net YTD 3-Yr.
NAV Chg. % Ret. % Ret. NAV Chg. % Ret. % Ret. NAV Chg. % Ret. % Ret. NAV Chg. % Ret. % Ret. NAV Chg. % Ret. % Ret. NAV Chg. % Ret. % Ret. NAV Chg. % Ret. % Ret. NAV Chg. % Ret. % Ret.
BAL A 11.96 -0.29 -9.5 13.8 EqWtdA p 67.52 -3.44 -14.2 32.1 HighYld r 6.24 -0.13 -10.8 0.5 InvGradeBdY 9.80 -0.07 -10.9 1.2 ComPLUSStrtgyFd 7.29 NA NA NA ntTerBd n 9.14 NA NA NA STAR n 25.87 -0.87 -18.5 15.1
DynaTech A 100.62 -6.73 -35.1 22.2 GblStrIncmA p 3.01 -0.05 -14.0 -12.0 MtgBckd 10.18 -0.09 -8.9 -3.2 LSGrowthY 19.25 -1.14 -26.6 24.4 Income 10.60 NA NA NA R S&PIdx n 50.37 -2.54 -18.6 36.5 STIGrade n 9.98 -0.06 -6.2 -0.7
EqIn A 28.07 -1.06 -10.9 25.6 GlbOppA p 43.62 -2.53 -41.2 -8.0 ShtDurBnd 10.52 -0.04 -3.8 1.7 Neuberger Berman Fds: IntlBdUSH 9.67 NA NA NA TarRet2040 n 11.61 -0.41 -17.0 10.7 StratgcEq n 33.20 -1.74 -14.4 30.9
FoundFAlA 12.63 -0.35 -13.4 3.2 GrIncA 22.09 -0.76 -9.0 27.0 USRechEnhEq 30.05 -1.53 -17.5 42.1 InvstGrCrBd 8.77 NA NA NA RiverNorth Funds: StrSmCpEqInv n 32.90 -1.70 -15.7 29.6
GenesInst 60.01 -2.94 -19.7 23.6
GrOp A 39.21 -2.72 -32.2 23.3 HYMuA 8.68 -0.10 -13.9 -4.0 JPMorgan R5 Class: LowDurInc 7.99 NA NA NA RNDLIncomeI 8.92 NA NA NA V TgtRe2020 n 26.57 -0.59 -14.3 8.4
LCVal Inst 40.84 -1.10 -7.7 45.6
Growth A 113.57 -6.78 -24.5 28.9 IntTMIA p 10.21 -0.06 -9.9 -3.1 SR2030 R5 16.92 -0.50 -17.1 8.9 LgShInst 16.67 -0.43 -6.9 20.0 RealRtn 10.38 NA NA NA Russell Funds S: TgtRe2025 n 17.08 -0.46 -16.0 9.7
InvGloblFdA 83.27 -6.13 -33.0 9.4 ShtTm 9.60 NA NA NA VALIC: TgtRe2030 n 31.92 -0.96 -16.9 11.5
LwDuToRt A 8.85 -0.05 -4.7 0.0 SR2040 R5 18.74 -0.70 -18.7 15.9 StrIncInst 9.57 -0.14 -11.0 0.9 StratBd 9.38 NA NA NA
RisDv A 81.59 -3.78 -15.5 31.3 LmtdTrmMunInc p 10.93 -0.04 -3.9 0.8 JPMorgPrm: TotRt 8.76 NA NA NA TaxExBd 21.48 NA NA NA IntlEq 6.46 NA NA NA TgtRe2035 n 19.68 -0.64 -17.4 13.7
Neuberger Berman Inv:
SmMCpGrA 30.36 -1.96 -31.7 24.3 MnStFndA 45.22 -2.29 -20.6 24.3 PIMCO Funds Instl: TxMngUSLgCp 57.47 NA NA NA MidCpIdx 25.07 -1.22 -15.5 25.4 TgtRe2040 n 34.46 -1.21 -18.0 15.7
USEquity L 18.19 -0.91 -17.4 46.7 Genes n 59.91 -2.93 -19.8 23.0 SciTech 21.18 -1.47 -33.4 26.3
StrInc A 8.13 -0.09 -11.2 -5.2 MnStSmCpA p 24.08 -1.21 -14.9 21.4 ComPLUSStrtgyFd 7.39 NA NA NA TgtRe2045 n 23.11 -0.87 -18.6 17.9
Guard n 21.26 -1.23 -21.2 45.6 S StckIdx 44.71 -2.23 -17.9 34.6
TtlRtn A 8.34 -0.07 -14.1 -7.9 ModInvA 9.91 -0.30 -18.4 5.5 L DynamicBd 9.75 -0.08 -6.9 0.5 TgtRe2050 n 38.10 -1.48 -18.8 18.0
LCVal n 40.86 -1.10 -7.8 45.0 VANGUARD ADMIRAL:
FrankTemp/Franklin C: MunInA 11.78 -0.07 -12.9 -4.3 IncomeFd 10.60 NA NA NA TgtRe2060 n 39.02 -1.52 -18.8 18.0
Neuberger Berman Tr: Schwab Funds:
Income C 2.30 -0.05 -7.6 14.3 RchHiYldMuniA 6.76 -0.07 -14.5 -1.6 Laudus Funds: InflRespMulAsset 7.99 NA NA NA 400MCpIdxInst321.62-15.68 -15.3 26.5 TgtRet2055 n 42.41 -1.66 -18.8 18.0
RisingDivA 21.50 -1.01 -15.8 30.4 GenesisFdR6 60.05 -2.93 -19.7 23.9 1000 Inv nr 84.78 NA NA NA 500Adml n 358.77-17.82 -17.8 35.6 TgtRetInc n 12.53 -0.22 -12.6 4.1
FrankTemp/Franklin R: USLgCpGr nr 20.83 NA NA NA Pioneer Funds A:
RochAMTFrMuni 6.78 -0.05 -12.4 0.0 Nicholas Group: CoreEq n 19.85 NA NA NA BalAdml n 40.57 -1.36 -16.2 17.2 USGro n 42.84 -2.50 -34.1 27.1
Lazard Instl: CoreEqA 18.91 -1.08 -19.2 32.1

.
FrkDynTchR6 106.22 -7.09 -35.0 23.5 RochLmtTrNYMuni p 2.77 -0.02 -7.8 -1.7 Nich n 68.53 -3.81 -19.4 30.8 FunIntlLgInst nr 8.61 NA NA NA CAITAdml n 11.02 -0.07 -8.2 -1.8
EmgMktEq 14.83 -0.45 -18.2 -5.7 DiscGrA 13.62 -0.90 -21.3 44.0 WellsI n 25.31 -0.67 -10.7 8.5
FrkGrthR6 114.43 -6.82 -24.3 30.2 RoMu A p 14.65 -0.12 -15.4 -3.7 Northern Funds: FunUSLgInst nr 20.72 NA NA NA CALTAdml n 10.96 -0.07 -12.0 -3.8
GlbLstInfr 15.74 -0.55 -1.8 20.4 PioFdA 30.20 -1.87 -19.9 35.8 Welltn n 40.46 -1.54 -15.4 17.5

ly
FrkRisDivR6 81.53 -3.77 -15.3 32.6 SenFltRtA 6.74 -0.03 -1.6 1.7 InflProSel n 11.05 NA NA NA CapOpAdml nr 155.73 -8.31 -19.6 32.0
IntStrtEq r 12.78 -0.49 -21.9 -2.5 BdIdx n 9.24 -0.09 -12.5 -6.6 Pioneer Funds Y: Wndsr n 22.19 -1.02 -7.6 37.6
FrkSmCpGrR6 19.11 -1.12 -28.0 7.8 SP IncomeA 4.51 -0.09 19.6 30.5 IntI Sel nr 18.65 NA NA NA DivAppIdxAdm n 39.35 -1.96 -14.4 28.4
USEQ Concen Inst 15.68 -0.92 -18.9 16.0 EmMktsEqIdx nr 10.39 NA NA NA WndsrII n 38.77 -1.76 -15.4 35.0
FrankTemp/Mutual A&B: Invesco Funds P: BondY 8.31 -0.06 -12.2 -2.5 S&P Sel n 60.39 NA NA NA EMAdmr n 32.59 -1.58 -18.6 2.7
Legg Mason I: HiYFxInc n 5.69 -0.11 -12.5 0.6 VANGUARD INDEX FDS:
Shares A 23.76 -0.91 -11.2 6.2 StratIncY p p 9.39 -0.05 -10.8 0.7 SmCp Sel nr 29.48 NA NA NA EnergyAd nr 55.32 -1.54 45.2 50.1
Summit P pn 19.42 -1.23 -28.5 23.7 IntlEqIdx nr 11.35 NA NA NA Price Funds: 500 358.75-17.83 -17.9 35.2
FrankTemp/Temp A: Invesco Funds Y: IntlGrTrI 50.87 -2.03 -26.3 4.1 TSM Sel nr 67.37 NA NA NA EnergyAdml nr 84.93 -1.76 17.3 5.6
IntTxExpt n 9.64 NA NA NA EmgMktInstPl 82.43 -4.00 -18.6 2.9
Frgn A 6.19 -0.15 -14.0 -3.4 Longleaf Partners: 2050RetFd n 15.58 -0.62 -20.1 18.6 USSmCoIdx nr 14.89 NA NA NA EqIncAdml n 85.18 -3.56 -5.7 30.3
MidCpIdx n 19.94 -0.97 -15.4 26.2

on
DevMktY 34.22 -1.22 -27.2 -13.2 Balnanced n 23.02 -0.74 -17.7 12.5 ExtndIstPl 259.61-13.39 -23.9 19.9
GlBond A 7.63 -0.11 -10.6 -17.5 DiscovY 92.29 -4.04 -28.0 32.7 Partners n 19.60 -1.56 -21.0 12.3 SmCpVal n 18.61 -0.70 -12.7 12.7 SEI Portfolios: EuropeAdml n 63.02 -2.40 -24.4 2.5 FTAIWdInPl 99.87 -3.79 -20.5 3.5
Growth A 20.34 -0.59 -16.7 -0.7 Sm-Cap n 22.27 -1.30 -15.3 3.9 BlChip n 120.63 -7.47 -32.2 15.2 ExplrAdml n 92.34 -5.10 -22.4 26.6
EqWtdY 68.46 -3.48 -14.1 33.1 StkIdx n 42.59 -2.12 -17.9 35.2 CoreFxIn F 9.66 -0.11 -14.1 -6.8 IdxIntl 15.90 -0.60 -20.8 3.3
World A 11.59 -0.54 -22.9 -8.0 Loomis Sayles Fds: Communica&Tech n 121.07 -7.99 -33.7 18.6 ExtndAdml n 105.20 -5.43 -23.9 19.9
GloblY 84.07 -6.19 -32.9 10.1 TxExpt n 9.47 NA NA NA IntlEmg F 9.95 -0.31 -22.9 -3.0 ITTresIdx Inst 24.91 -0.21 -9.8 -5.0
FrankTemp/Temp Adv: LSBondI 11.67 -0.14 -12.4 -5.7 DivGro n 63.92 -2.77 -13.3 33.1 GNMAAdml n 9.35 -0.12 -10.0 -6.7
IntGrowY 31.34 -1.62 -31.0 4.0 Nuveen Cl A: IntlEq F 9.35 -0.28 -23.0 2.6 LTTresIdx Inst 28.01 -0.34 -25.5 -17.7
Lord Abbett A: EmMktS n 33.96 -1.14 -25.0 -13.0 GroIncAdml n 86.10 -4.26 -16.8 37.2
GlBondAdv 7.59 -0.11 -10.4 -17.0 IntlSmCoY 36.20 -2.21 -36.1 -2.7 AAMunBd p 10.01 -0.07 -16.8 -7.6 IntMuni F 10.85 -0.07 -9.2 -2.2 MdCpGrAdml n 79.67 -4.95 -27.0 25.4
EqInc n 33.26 -1.39 -6.8 26.4 GrwthAdml n 119.65 -7.43 -27.4 41.1
Frost Family of Fund: Ivy Funds: Affiltd p 15.88 -0.64 -13.7 14.9 HiYldMuBd p 15.14 -0.19 -15.2 -2.2 TaxMgdLC F 30.68 -1.58 -16.6 29.9 MdCpVlAdml n 69.15 -3.51 -10.3 24.9
EqIndex n 102.19 -5.08 -17.9 35.0 HltClxAd nr 117.92 -3.20 -10.9 43.5
Sequoia:

us ,
FrTRInst 9.52 -0.06 -5.1 2.3 AssetStrA p 20.17 -0.66 -16.6 13.9 BdDeb p 7.13 NA NA NA LtdMnBd p 10.72 -0.05 -5.0 0.2 GlbStk n 45.78 -2.35 -27.9 34.0 SmValAdml n 67.22 -3.21 -11.8 25.7
HlthCareAdml nr 84.85 -2.67 -8.2 36.6
CoreEqA t 15.80 -0.76 -17.9 38.3 CalibrDivGr 17.21 -0.88 -16.5 27.1 Nuveen Cl I: GlbTech n 12.15 -0.86 -47.9 9.2 SequoiaFd n 124.10 -7.00 -30.9 10.6 TotBd2 9.52 -0.09 -12.5 -6.7
HYCorAdml nr 5.15 -0.10 -10.5 0.4
G

l
LgCpGwthA p 25.52 -1.76 -25.5 36.7 FloatRt p 7.98 NA NA NA HYMunBd 15.15 -0.18 -15.0 -1.6 Growth n 70.66 -3.74 -33.5 17.8 SmeadFds: TotIntlInstIdx r 106.35 -4.06 -20.8 3.6
InfProAd n 24.81 -0.30 -9.6 7.1
LgCpGwthl r 27.61 -1.91 -25.4 38.0 HYMuniBd p 10.63 NA NA NA Nuveen Cl R: HelSci n 88.50 -3.35 -15.0 43.6 SmeadValueInstl 63.26 -2.05 -8.6 42.6 TotItlInstPlId r 106.38 -4.06 -20.8 3.6

e
InfTechIdx n 170.41 -11.17 -27.1 57.5

al a
GE Elfun/S&S: MidCapI 29.89 -1.99 -29.4 32.2 IntrTxFr 9.97 NA NA NA TotSt 94.71 -4.74 -18.9 32.8
IntDMunBd 8.65 -0.07 -9.0 -1.9 InstFLRfd r 9.29 -0.04 -1.6 7.3 SSgA Funds: IntlGrAdml n 94.02 -4.29 -32.5 19.9
Trusts n 64.32 -3.54 -19.3 38.7 MdCpGwthA p 26.54 -1.78 -29.6 30.7 MultiAstBalOppty 10.16 NA NA NA InstHiYld 7.45 -0.18 -12.1 -0.5 VANGUARD INSTL FDS:
LmtTrmR 10.68 -0.04 -4.9 0.8 SP500 n 223.45 NA NA NA ITBondAdml n 10.25 -0.10 -12.5 -5.2
GMO Trust Class III: ScTechA p 50.14 -2.95 -29.6 23.3 ShtDurIncmA p 3.88 NA NA NA LgCapGow I 51.60 -2.71 -29.8 30.3 BalInst 40.58 -1.36 -16.2 17.2
ITIGradeAdml n 8.40 -0.10 -13.8 -4.5
Quality 24.26 -1.13 -17.7 35.7 ScTechI r 60.63 -3.57 -29.5 23.9 TaxFr p 10.15 -0.08 -14.7 -6.1 O InstLCCoreGr 47.91 -2.95 -32.0 15.6 T DevMktsIndInst 12.70 -0.44 -21.5 4.2
ITsryAdml n 10.11 -0.09 -9.5 -3.8

ci on
GMO Trust Class IV: Lord Abbett C: LgCpVal 25.62 -1.07 -7.7 27.2 DevMktsInxInst 19.85 -0.69 -21.5 4.2
J ITTresIdx n 20.07 -0.17 -9.8 -5.0
EmgCntrDt 18.38 -0.27 -20.0 -12.5 ShtDurIncmC t 3.90 NA NA NA Oakmark Funds Invest: InstSmCap 25.88 -1.20 -21.2 20.6 TCW Funds: LarCapAd n 89.55 -4.48 -19.0 34.9 EmMkInst r 24.78 -1.20 -18.6 2.8
GMO Trust Class VI: Lord Abbett F: EqtyInc nr 29.85 -0.99 -12.9 20.4 IntDis n 56.39 -2.05 -33.0 9.2 EmMktInc n 6.05 -0.12 -19.0 -16.6 LTGradeAdml n 8.05 -0.13 -24.2 -12.5 ExtndInst 105.20 -5.42 -23.9 19.9
Janus Henderson:
BdDeb 7.12 NA NA NA Oakmark n 103.01 -4.08 -13.6 40.7 IntlStk n 15.83 -0.56 -20.3 1.1 TotRetBondI n 8.52 -0.10 -14.3 -7.6 LTsryAdml n 9.35 -0.12 -25.6 -16.9 FTAlWldIst r 94.31 -3.58 -20.5 3.4
Quality 24.27 -1.12 -17.7 36.1 Balanced C 37.45 -1.19 -17.2 14.5
ShtDurIncm 3.88 NA NA NA OakmrkInt n 21.49 -0.55 -23.5 -5.6 MCapVal n 30.83 -1.34 -8.3 32.2 Thompson IM Fds,Inc: LTTresIdx n 22.07 -0.27 -25.5 -17.7 FTScinst 25.82 -1.47 -22.1 34.2
Goldman Sachs Inst: Balanced T n 38.07 -1.20 -16.7 17.2
Lord Abbett I: Select n 52.29 -2.37 -18.6 29.7 MCEqGr 56.51 -2.99 -23.6 14.8 Bond n 10.22 -0.02 -5.1 0.1 MidCpAdml n 254.26-14.27 -18.9 26.4 GrwthInst 119.66 -7.43 -27.4 41.2
EmgMktEq 20.67 NA NA NA Enterprise T n 130.14 -6.03 -16.8 22.8 MidCap n 90.42 -4.65 -22.9 15.3 InPrSeIn 10.11 -0.12 -9.6 7.2
BdDebentr 7.09 NA NA NA Old Westbury Fds: Thornburg Fds: MuHYAdml n 10.25 -0.09 -12.6 -2.8
HYMuni 8.98 -0.10 -13.8 -2.4 Grw&Inc T n 64.91 -2.91 -17.1 25.5 N Asia n 15.85 -0.53 -24.6 3.4 InstIdx 329.24-16.35 -17.8 35.6
FloatRt 7.99 NA NA NA AlCpCore n 20.67 NA NA NA IncBuildA t 20.75 -0.38 -12.0 11.2 MuIntAdml n 13.25 -0.08 -8.3 -1.2
Muni 14.85 -0.11 -9.8 -1.7 Resh T n 48.92 -2.96 -28.0 24.8

er s
HiYld 6.26 NA NA NA CreditIncomeFd n 8.41 NA NA NS NAmer n 53.37 -2.68 -21.8 49.8 MuLTAdml n 10.47 -0.07 -11.9 -2.9 InstPlus 329.25-16.35 -17.8 35.7
ShDuTF 10.23 -0.04 -4.2 -0.7 Jensen I : IntVal I 20.45 -0.58 -24.4 6.9
ShtDurInc p 3.88 NA NA NA FixInc pn 10.11 NA NA NA New Era n 39.93 -1.60 -0.3 27.0 MuLtdAdml n 10.64 -0.04 -3.8 0.9 InstTStPlus 68.95 -3.44 -18.8 33.4
SmCapVa 49.50 NA NA NA Jensen I 55.10 -2.47 -17.7 37.5 LtdTIncI 12.59 -0.07 -6.8 0.4
NHoriz n 51.47 -3.19 -33.0 24.0 MuShtAdml n 15.55 -0.03 -1.4 1.4 ITBdInst 10.24 -0.11 -12.6 -5.2
To reprint or license content, please contact Barron's reprints department at 800-843-0008 or www.djreprints.com

Guggenheim Funds Tru: LrgCpStr n 14.53 NA NA NA LtdTMu I 13.48 -0.05 -5.6 -1.7
JensenQualGrJ n: MN OverS SF nr 10.36 -0.29 -21.9 4.5 NJLTAdml n 10.92 -0.09 -11.9 -2.2 ITBdInstPI 10.25 -0.10 -12.5 -5.1
MuniBd pn 11.34 NA NA NA Thrivent Funds A:
MacOppFdClInstl 24.10 -0.23 -8.4
TotRtnBdFdClInst 23.91 -0.21 -14.2
5.1
-1.0
JensenQualGrJ n 55.17 -2.47 -17.8
JHF III DispVal:
36.6
m er
MainStay Fds A:
Sm&MdCapStrategi n 13.79 NA
Optimum Funds Inst:
NA NA QMUSSmCpGrEq n 35.61 -1.91 -23.2
SpectModerGwAllo n 34.13 -1.22 -19.7
12.4
13.0 LgCpStk 22.87 -1.02 -20.2 18.6
NYLTAdml n 10.40 -0.07 -12.5
PacifAdml n 76.44 -2.23 -20.1
-4.1
0.7
LaCapInst
MidCpInst
368.58-18.45 -19.0
56.17 -3.15 -18.9
34.9
26.4
GuideStone Funds: R2010 n 15.07 -0.35 -14.1 8.8 MidCapStk 26.88 -1.30 -17.0 34.9 MidCpIstPl 277.02-15.54 -18.9 26.4
DispVal I 21.30 -0.85 -9.2 27.4 HiYldBdA 4.94 -0.08 -9.2 2.3 Fixed Inc 8.34 -0.09 -13.2 -5.9 PALTAdml n 10.47 -0.07 -11.6 -2.8
R2015 n 12.59 -0.30 -14.4 10.2 Thrivent Funds S: PrmcpAdml nr 138.34 -8.26 -18.4 28.6 RealEstaInstl 19.81 -1.20 -21.1 8.0
EqindxGS2 41.05 NA NA NA DispValMCI 24.48 -1.22 -11.6 25.0 TxFrBdA 9.20 -0.06 -12.0 -3.5 LgCpGrwth 17.55 -1.04 -31.1 16.8
MedDurGS2 12.81 NA NA NA DispValMdCp 23.31 -1.15 -11.7 24.1 Mairs&Power: R2020 n 18.91 -0.47 -14.9 11.6 LgCpVal n 26.02 -1.04 -8.3 35.2 RealEstatAdml n 127.98 -7.76 -21.2 7.9 Rs1000GrwIdxInst449.77-25.49 -25.2 44.8
LgCpVal 18.87 -0.76 -10.6 24.4 R2025 n 16.40 -0.46 -16.0 13.5 MidCapStk n 31.62 -1.53 -16.9 36.0 Rs1000Vl IdxInst253.44 -11.13 -11.0 21.8
DispValMdCpR624.49 -1.21 -11.5 25.4 MairsPwrGr n 128.76 -7.00 -20.5 29.5 S&PSC600Idx 348.45-14.61 -17.5 22.1
H Osterweis Strat Income: R2030 n 24.35 -0.76 -17.4 14.9 TIAA-CREF/Instl Cl: Russ1000IdxInst342.82-17.26 -18.6 34.7
DispValR6 21.35 -0.86 -9.1 27.7 SmCapAdml n 89.11 -4.51 -17.3 22.2
m rp
Mass Mutual: OsterweisStrInc n 10.27 -0.27 -7.7 5.9
JHITFunLgCpCorFd: R2035 n 18.58 -0.65 -18.7 16.2 CoreBond Inst 9.15 -0.09 -12.5 -5.4 SmGthAdml n 74.34 -4.08 -24.8 13.7 Russ3000Idx 337.68-16.93 -18.6 33.4
Harbor Funds: SelBluChipGroClI 20.27 -1.22 -29.9 18.7 R2040 n 26.33 -1.01 -19.6 17.4 SmCapInst 89.11 -4.51 -17.3 22.3
FunLgCpCorA 56.72 -3.23 -20.7 34.4 CorePlsBd 9.17 -0.09 -12.5 -4.6 STBondAdml n 9.91 -0.06 -5.6 -1.5
CapApInst 69.16 -3.73 -31.4 35.7 MassMutual Select: PQ Ret2045 n 18.42 -0.73 -19.9 18.6 SmCapIstPl 257.20-13.02 -17.3 22.3
John Hancock: TIAA-CREF/Retail Cl: STCorpIx n 20.55 -0.11 -6.1 -0.4
IntlInst 36.85 -1.15 -21.9 3.2 MCGrEqIII 20.05 -1.06 -23.9 16.7 Ret2055 n 16.12 -0.65 -20.1 18.3 STFedAdml n 10.18 -0.06 -4.8 -0.2 SmGthInst 59.53 -3.27 -24.8 13.7
500Index1 43.01 -2.14 -18.0 34.5 Parnassus Fds: Gro&Inc n 20.51 -1.01 -20.8 27.5
SmCpValInst 37.31 -1.58 -12.3 19.5 Matthews Asian Funds: RetBal Inc n 13.11 -0.27 -13.0 9.4 STIGradeAdml n 9.98 -0.06 -6.1 -0.4 SmValInst 37.58 -1.79 -11.7 25.8
BondI 13.60 -0.16 -13.6 -4.6 ParnEqFd n 50.90 -2.88 -19.6 32.0 TIAA/CREF Funds:
Harding Loevner: PacTigerInv nr 21.61 -0.74 -21.5 2.2 SciTec n 29.36 -2.15 -32.4 13.5 STIPSIxAdm n 24.63 -0.13 -2.1 9.4 STBdIdxInstPl 9.91 -0.06 -5.6 -1.4
BdIdxInst 9.61 -0.10 -12.4 -6.6
For personal non-commercial use only. Do not edit or alter. Reproductions not permitted.

BondR6 13.62 -0.16 -13.5 -4.4 Pax World Fds: Sht-Bd n 4.52 -0.02 -4.4 0.6
EmgMktsAdv n 41.94 -1.62 -29.5 -15.3 Metropolitan West: STsryAdml n 10.04 -0.06 -4.4 -0.5 STBDInst 9.91 -0.06 -5.6 -1.4
ClassicVal I 36.07 -1.63 -10.0 21.4 SustAll Inv n 23.98 -0.81 -16.5 18.1 SmCap n 51.82 -2.08 -16.1 23.5 EqIdxInst 27.86 -1.39 -18.5 33.5
IntlEq 22.21 -0.81 -26.1 5.8 LowDurBdI 8.30 NA NA NA STTresIdx n 19.37 -0.10 -4.0 -1.0 STCorpIxInst p 25.15 -0.14 -6.1 -0.3
IntlGrwI 24.44 -0.90 -29.9 2.9 Pear Tree: SmCapStk n 54.87 -2.53 -21.3 20.8 Gr&IncInst 13.59 -0.68 -20.7 28.5
TotBdAdml n 9.64 -0.09 -12.4 -6.2 STIGradeInst 9.98 -0.06 -6.1 -0.3
co o

Hartford Funds A: John Hancock Class 1: TotRetBd n 9.28 NA NA NA HgYldInst 8.21 -0.20 -11.2 -2.2
TotRetBdI 9.28 NA NA NA ForeignVal I r 18.49 -0.52 -22.7 -7.0 SpecGr n 22.14 -1.01 -19.3 23.4 TotIntBdIdxAdm n 19.51 -0.01 -11.0 -9.5 STIPSIxins 24.65 -0.13 -2.1 9.5
BalIncA 14.07 -0.31 -11.1 9.1 BlueChipGrw 38.32 -2.38 -31.6 14.9 IntlEqIdxInst 17.96 -0.56 -21.5 1.6
TRBdPlan 8.69 NA NA NA Perm Port Funds: SpecInc n 11.17 -0.16 -11.1 -1.1 TotIntlAdmIdx nr 26.60 -1.01 -20.8 3.5 TotBdInst 9.64 -0.09 -12.4 -6.1
CapAppA 34.17 -1.70 -19.6 17.9 LSAggr 13.55 -0.58 -19.7 20.0 IntlEqInst 10.69 -0.33 -24.3 5.6
UnconstrBdI 10.49 NA NA NA Permanent n 44.73 -1.22 -10.3 21.7 SuMuInt n 11.08 -0.07 -8.7 -2.2 TotStAdml n 94.75 -4.73 -18.8 33.2 TotBdInst2 9.52 -0.09 -12.4 -6.5
DiscpEqA 40.56 -1.87 -18.0 30.7 LSBalncd 12.78 -0.38 -16.5 12.7 LC2040Inst 9.47 -0.33 -18.2 16.4
MFS Funds: PGIM Funds Cl A: TF Incom n 10.78 -0.12 -12.8 -3.2 TxMBal nr 36.53 -0.99 -13.2 16.3 TotBdInstPl 9.64 -0.09 -12.4 -6.1
F

DivGth A 29.91 -1.27 -11.7 33.1 LSGwth 13.35 -0.50 -18.2 16.8 TotIndex n 41.98 -2.09 -18.9 31.3 LCIdx2020Inst 17.41 -0.44 -14.8 9.5
IIE 26.27 -0.81 -21.5 9.9 TxMCapAdml n 200.71-10.17 -18.5 35.1 TotIntBdIdxInst 29.27 -0.03 -11.0 -9.4
EqInc 21.45 -0.72 -5.3 31.6 LSModer 11.84 -0.27 -14.2 7.8 HighYield 4.65 NA NA NA LCIdx2025Inst 18.93 -0.53 -15.6 11.3
U.S.EqResch n 37.04 -1.85 -18.1 36.2 TxMIn nr 12.68 -0.44 -21.5 4.1 TotStInst 94.76 -4.74 -18.8 33.3
GrOppty 31.10 -1.94 -34.5 19.5 John Hancock Funds A: MFS Funds Class A: JennGrowth 40.58 -2.27 -31.8 35.9 LCIdx2035Inst 21.80 -0.73 -17.3 14.8
USLrgCpCore n 29.82 -1.53 -16.8 29.7 TxMSC nr 76.55 -3.22 -17.5 22.0 TtlWrldIxInst p 174.12 -8.37 -19.5 20.0
MidCap A 24.69 -1.52 -24.7 7.3 AgGrAIA 25.27 -1.16 -19.1 18.7 JennUtility 16.38 -0.56 3.4 29.8 Value n 41.23 -1.58 -13.7 29.7 LCIdx2040Inst 22.90 -0.83 -18.0 16.9
BalA 22.60 -0.75 -16.2 16.4 USGroAdml n 111.05 -6.47 -34.1 27.5 TxMCaInst r 99.73 -5.05 -18.5 35.2
Hartford Funds C: BondA p 13.59 -0.16 -13.8 -5.5 CoEqyA 39.39 -1.87 -17.2 32.0 TotalReturnBond p 12.17 -0.13 -14.4 -7.8 Price Funds - Adv Cl: LCIdx2045Inst 23.60 -0.92 -18.6 19.2 UtilIxAd nr 81.16 -2.97 4.9 26.6 ValueInst 52.09 -1.95 -8.1 28.0
Bal IncC 13.81 -0.32 -11.6 6.7 LifeBal 12.88 -0.39 -16.8 11.4 GrowthA 128.20 -8.74 -28.8 24.2 PGIM Funds Cl Z: LrgCpGrIdxInst 43.24 -2.45 -25.2 44.9
BlChip p 117.63 -7.28 -32.3 14.2 ValAdml n 52.09 -1.95 -8.2 28.0 Victory Funds:
Hartford Funds I: LifeGrw 13.40 -0.50 -18.5 15.5 IntlVA 37.95 -1.51 -28.4 2.9 HighYield 4.66 NA NA NA LrgCpGrInst 17.06 -1.01 -29.0 29.0 WdsrllAdml n 68.78 -3.13 -15.3 35.3
Growth p 68.46 -3.63 -33.7 16.9 EstValA 46.41 NA NA NA
BalIncI 14.08 -0.31 -11.0 10.0 John Hancock Instl: MCapA 22.09 -1.41 -28.6 15.4 JennGrowth 45.74 -2.55 -31.6 37.1 LrgCpVl IdxInst 21.88 -0.96 -10.9 22.0 WellsIAdml n 61.31 -1.63 -10.6 8.8
R2030A p 24.03 -0.76 -17.6 14.0 EstValI 45.72 NA NA NA
DivGthI 29.73 -1.27 -11.6 34.2 MCapValA 27.88 -1.31 -11.5 27.1 TotalReturnBond 12.13 -0.13 -14.2 -7.1 LrgCpVl Inst 19.05 -0.78 -12.3 24.8 WelltnAdml n 69.86 -2.68 -15.4 17.8
StratIncmOppI 9.73 -0.13 -10.5 -0.2 R2040A p 25.99 -0.99 -19.8 16.5 SmCoOppI 46.63 NA NA NA
EmrgMktEqInv 14.38 -0.46 -24.6 -3.9 MIGA 34.04 -1.97 -20.1 34.5 PIMCO Fds Admin: QuantSmCpEqInst 15.95 -0.78 -16.3 22.8 WndsrAdml n 74.83 -3.41 -7.5 38.1
JPMorgan A Class: Price Funds - R Cl: Virtus Equity Trust:
EqIncI 21.29 -0.72 -5.2 32.5 MITA 33.60 -1.67 -17.4 27.5 TotRtAd p 8.77 NA NA NA RealSecInst 17.97 -1.18 -24.0 9.9 VANGUARD FDS:
CoreBond 10.33 -0.08 -11.4 -5.1 MuHiA 7.30 -0.08 -13.7 -4.8 R2030R p 23.71 -0.75 -17.7 13.1 S&P500IdxInst 42.82 -2.13 -17.8 35.5 SmCapSusI 36.04 NA NA NA
IntlAlphaInv 13.44 -0.51 -25.3 14.1 CorePlusBd p 7.29 -0.07 -12.0 -5.1 PIMCO Fds Instl: PRIMECAP Odyssey Fds: CAIT n 11.02 -0.07 -8.3 -2.0
MuInA 7.97 -0.06 -11.7 -4.2 S&P500IdxRet 42.45 -2.11 -18.0 34.5 VirtusFunds:
MidCap 26.03 -1.60 -24.6 8.0 EqInc p 21.58 -0.73 -6.8 28.7 AllAsset 10.90 NA NA NA DivdGro n 34.14 -1.37 -10.2 32.2
MuLtdA 7.80 -0.03 -5.8 -1.1 AggGrowth nr 39.75 -2.07 -24.6 15.0 SmCpBl IdxInst 20.75 -0.96 -19.1 18.2 CeredexMdCpVlEqI 10.66 NA NA NA
WorldBond 9.87 -0.04 -4.9 -4.1 GwthAdv p 23.66 -1.35 -25.5 53.7 AllAssetAuth r 6.74 NA NA NA Growth nr 36.25 -1.84 -17.8 25.7 DivrEq n 41.44 -2.15 -21.3 33.4
ResBdA 9.50 -0.10 -13.2 -5.5 SocChEqInst 22.94 -1.17 -19.2 33.2 VirtusFunds Cl I:
Hartford HLS Fds IA: Inv Bal p 14.52 -0.37 -14.0 13.0 CommodtyRR 5.62 NA NA NA Stock nr 33.53 -1.82 -16.4 25.3 Energy nr 45.25 -0.94 17.3 5.3
RschA 49.82 -2.46 -17.6 28.1 Tortoise Capital: EmMktI 7.93 NA NA NA
Balanced 26.52 -0.91 -14.0 21.5 InvCon p 11.94 -0.22 -12.5 6.0 DivInc 9.16 NA NA NA Principal Investors: EqInc n 40.65 -1.69 -5.8 30.0
n-

TotRA 18.75 -0.48 -12.0 15.4 TorMLPPipInsCl 13.34 -0.27 22.6 20.1 Explr n 99.24 -5.48 -22.5 26.2 MulSStI 4.38 -0.02 -5.5 0.4
CapApp 38.59 -1.93 -17.6 23.3 InvG&I p 16.98 -0.52 -15.3 19.1 EmMktsBd 8.12 NA NA NA
UtilA 24.80 -0.85 2.2 27.6 HiYld IN 8.01 -0.16 -11.3 0.4 Touchstone Funds Gro: Vivaldi Merger:
DiscEqui 16.11 -0.74 -18.1 32.3 InvGrwt p 21.01 -0.79 -17.1 25.3 HiYld 7.69 -0.19 -11.8 -1.0 FTAlWldInAdml n 29.75 -1.13 -20.5 3.4
ValueA 48.05 -1.93 -10.9 23.2 InfPro IN 8.37 -0.09 -9.8 6.3 MdCpY 42.06 -1.76 -15.2 15.8 Arbitrage Fund 10.61 0.01 0.7 11.9
Div&Grwth 21.76 -0.95 -11.8 34.5 LgCpGwth p 46.28 -2.19 -23.3 52.4 IntlBdUSH 9.70 NA NA NA GlbCapCyl Inv nr 10.67 -0.33 -3.4 42.1
MFS Funds Class I: LgIndxI 19.92 -0.99 -17.9 34.9 Touchstone Strategic: Voya Fds:
Stock 91.58 -3.68 -10.4 32.5 USEquity 18.06 -0.90 -17.6 45.1 InvGrdCrBd 8.77 NA NA NA GlbEq n 29.44 -1.52 -23.5 14.6
GrowthI 138.65 -9.44 -28.7 25.1 LT2020 In 12.31 -0.31 -14.6 9.4
TotRetBd 9.32 -0.09 -13.7 -5.3 JPMorgan I Class: LgTrmCrdtBd 8.96 NA NA NA LagCapFoc A p 47.90 -2.30 -18.5 37.2 GloMinVolFdAdm n 27.21 -0.64 -7.9 3.5 InmdBdI 8.74 NA NA NA
MCapI 23.76 -1.52 -28.4 16.3 LT2030In 13.37 -0.43 -17.2 12.8
CoreBond 10.32 -0.08 -11.2 -4.4 LngDurTotRtrn 7.47 NA NA NA Transamerica A: GNMA n 9.35 -0.12 -10.1 -6.9
MCapValI 28.72 -1.34 -11.3 28.0 LT2040I 14.45 -0.58 -18.9 15.3 WXYZ
I
no

CorePlusBd 7.29 -0.07 -11.7 -4.1 LowDur 9.21 NA NA NA AsAlModGr p 10.97 -0.35 -18.6 11.3 GroInc n 52.75 -2.61 -16.9 36.7
ResBdI 9.50 -0.10 -13.1 -5.1 LT2050I 14.94 -0.67 -19.8 16.8
EmMktEq I 27.38 -1.02 -27.5 -3.3 LowDurInc r 7.99 NA NA NA Trust for Professional Ma: HlthCare nr 201.19 -6.33 -8.3 36.4
IFP US Equity Fund: RschI 51.44 -2.53 -17.4 29.0 MidCpBldA 30.92 -1.77 -23.5 19.5 Wasatch:
EqInc 22.01 -0.74 -6.6 29.5 ModDur 9.37 NA NA NA HYCor nr 5.15 -0.10 -10.5 0.1
ValueI 48.37 -1.94 -10.7 24.2 PreSecI 8.99 -0.03 -10.3 0.6 PrfTrtStrtBd Ins 19.53 -0.24 -11.9 -4.6
IFP US EquityFd 18.78 -0.86 -12.7 34.4 GrAdv r 24.99 -1.43 -25.4 54.8 MortgOppBd 9.89 NA NA NA InflaPro n 12.63 -0.16 -9.7 6.7 CoreGr n 65.26 -4.77 -30.7 21.8
Morgan Stanley Inst: PtrLGI In 15.39 -0.94 -30.7 24.4 Tweedy Browne Fds: IntlExplr n 14.48 -0.50 -32.0 -5.4
INVESCO A Shares: LgCpGwth 47.57 -2.24 -23.2 53.6 RealRtnI 10.43 NA NA NA WCM:
PtrLV In 17.86 -0.70 -9.0 23.0 GblValue n 25.52 -0.60 -12.3 3.7 IntlGr n 29.55 -1.35 -32.5 19.5
AmValA 34.86 -1.69 -11.5 20.9 MdCpGrw 38.85 -2.15 -25.8 32.5 CapGrI 36.22 -2.47 -51.2 8.5 ShortT 9.60 NA NA NA FcusEmgMk Inst 12.81 -0.48 -31.4 4.5
RealEstSecI 27.94 -1.49 -19.4 11.9 IntlVal n 34.15 -1.01 -17.9 4.5
Invesco Fds Investor: MdCpVal 36.78 -1.78 -10.1 23.2 CapGrP p 33.03 -2.26 -51.3 7.7 ShtAssetInv 9.83 NA NA NA WCM Focus Funds:
SAMBalA p 14.52 -0.48 -16.6 10.0 U ITIGrade n 8.40 -0.10 -13.9 -4.8
MtgBckd 10.18 -0.09 -9.0 -3.6 GloFranI t 29.73 -1.41 -19.6 20.0 StksPLS 10.42 NA NA NA WCMFocIntlGrwIns 18.79 -1.14 -32.1 15.5
DivrsDiv n 18.69 -0.59 -5.5 19.4 SAMGrA p 16.92 -0.71 -18.5 14.2 LifeCon n 19.45 -0.40 -15.0 4.1
ShtDurBnd 10.52 -0.04 -3.8 1.5 MorganStanleyPathway: TotRetESG 7.82 -0.08 -14.3 -6.9 UM Funds: Western Asset:
Invesco Funds A: Putnam Funds Class A: LifeGro n 36.06 -1.28 -18.1 15.1
SmCap 54.94 -2.92 -18.1 18.5 CoreFxIcm n 6.96 -0.08 -14.0 -6.7 TotRt 8.77 NA NA NA BehavVal 78.97 -3.41 -5.2 37.9
500InxA 41.10 -2.05 -18.1 33.6 DynAAGthA 15.84 NA NA NA LifeInc n 14.57 -0.19 -13.4 -1.7 CoreBondI 10.84 NA NA NA
USEquity 18.15 -0.90 -17.5 46.2 LgCapEq n 20.50 -1.09 -19.9 25.9 TrndsMgdFutStrgy 12.92 NA NA NA USAA Group: CoreBondIS 10.83 NA NA NA
ActiveAllA 12.26 -0.45 -20.5 8.8 PutLargCap p 28.76 -1.18 -6.9 35.0 LifeMod n 27.75 -0.78 -16.5 9.6
ValAdv 37.09 -1.53 -7.0 25.5 Munder Funds: PIMCO Funds A: CorePlusBdA 9.55 NA NA NA
CapApprA p 51.21 -2.57 -26.3 33.8 GlbHlthCare p 55.60 -1.56 -12.3 42.3 500Indx Reward n 50.42 -2.53 -18.5 36.9 LTIGrade n 8.05 -0.13 -24.3 -12.7
JPMorgan Inst Class: MndrIntlSmCpInv r 12.20 NA NA NA IncomeFd 10.60 NA NA NA GrOpp p 43.39 -2.51 -26.0 36.1 CorePlusBdI 9.58 NA NA NA
Chart 15.31 -0.77 -20.6 23.0 CrnstModAggr n 24.03 -0.68 -15.2 7.5 MATxEx n 9.82 -0.07 -12.0 -3.3
CmstA 27.99 -1.05 -4.8 34.2 ValAdv L 37.15 -1.53 -6.9 26.1 Mutual Series: LowDurInc 7.99 NA NA NA StDurInc 9.99 -0.01 0.0 2.0 Gr&Inc n 20.79 -1.02 -18.2 25.4 CorePlusBdIS 9.55 NA NA NA
MidCpGro pn 19.53 -1.14 -27.6 11.3
DevMktA 34.74 -1.24 -27.4 -13.8 JPMorgan L Class: BeacnZ 14.89 -0.63 -17.1 7.2 RealRtnA 10.43 NA NA NA SustainLdrsFd p 96.49 -5.12 -22.1 34.4 Grwth n 25.63 -1.58 -29.3 22.0 ManagedMuniA 14.70 NA NA NA
MuHY n 10.25 -0.09 -12.7 -3.1
DiscFdA p 74.89 -3.28 -28.1 31.8 Fl EmMktEq L 27.62 -1.03 -27.5 -3.0 GlbDiscA 27.59 -0.90 -10.5 8.1 TotRetA 8.77 NA NA NA Putnam Funds Class Y: Inco n 11.33 -0.10 -12.9 -3.8 SMAShCrPlCp n 6.32 NA NA NA
MuInt n 13.25 -0.08 -8.4 -1.4
DisMdCpGrA 21.75 -1.11 -28.1 28.6 MdCpVal L 37.43 -1.80 -10.0 24.0 GlbDiscz 28.33 -0.93 -10.3 8.9 PIMCO Funds C: GrOpp Y 46.16 -2.67 -25.8 37.1 IncStk n 18.00 -0.75 -8.9 22.6 SmashSerC n 8.66 NA NA NA
OHLTte n 11.23 -0.09 -12.8 -3.4
DivIncm p 24.18 -0.66 -4.4 18.4 JPMorgan R Class: QuestZ 13.12 -0.33 -9.3 1.5 IncomeFd 10.60 NA NA NA Incm 5.92 NA NA NA IntmTerm n 12.34 NA NA NA Primcp nr 133.47 -7.97 -18.4 28.3 SmashSerM n 8.29 NA NA NA
DivrsDiv p 18.69 -0.59 -5.5 19.1 CoreBond 10.34 -0.07 -11.1 -3.8 SharesZ 24.11 -0.93 -11.0 7.0 PIMCO Funds I2: PutLargCap 28.76 -1.18 -6.7 36.0 LgTerm n 11.79 NA NA NA PrmcpCor n 28.08 -1.48 -16.5 26.9 Wm Blair Funds Cl I:
EqIncA 10.20 -0.27 -9.5 22.9 CorePlusBd 7.30 -0.07 -11.6 -3.9 Natixis Funds: CommdtyRR 5.58 NA NA NA StDurInc 10.01 0.00 0.2 2.4 Nasdaq100 n 31.46 -1.93 -27.1 52.9 SelValu nr 26.43 -1.29 -13.8 23.0 SmMidI r 26.37 -1.37 -24.0 11.2
 September 19, 2022 BARRON’S 53

D ATA MARKET LABORATORY B A R R O N S .C O M / D ATA

DJ Half-Hourly Averages Trading Diary

The Dow Jones Averages Dow Jones 30 Industrial (divisor: 0.15172752595384)
Daily
Open (t)
Open (a)
10:00
Sep 12
32259.80
32159.49
32447.32
13
31810.38
32006.50
31721.98
14
31172.72
31141.02
31205.53
15
31108.66
31124.68
31228.25
16
30645.20
30866.61
30605.29
Market Advance/Decline Volumes
Daily
NY Up
NY Off
Sep 12
706,584
13 14
38,373 499,874 324,261 680,334
107,815 888,932 476,971 649,003 2,670,311
NY Up - Comp. 3,226,740 211,243 2,209,411 1,567,973 1,443,409
15 16

NY Off - Comp. 487,366 3,991,337 1,995,220 2,831,784 6,414,653

10:30 32482.21 31637.65 30985.39 31100.40 30721.48 NYSE Amer UP 7,713 2,350 9,703 4,520 49,295
11:00 32431.06 31518.54 31236.49 31083.85 30643.40
Industrials 11:30 32458.16 31506.25 31169.20 31118.84 30630.52
NYSE Amer Off
NASD Up
5,828 10,424 5,734 8,857 27,232
2,981,296 1,116,199 3,022,978 1,906,941 1,661,083
36350 12:00 32319.90 31477.66 31187.27 30996.49 30697.08 NASD Off 1,126,483 4,048,273 1,745,193 2,851,183 5,701,090
12:30 32333.26 31482.75 31142.73 30962.26 30566.95 NYSE Arca UP 197,301 45,716 170,538 67,324 89,717
Week's NYSE Arca Off 38,846 300,275 72,432 206,906 216,330
Components Change 1:00 32367.42 31500.55 31203.61 31075.27 30648.76
1:30 32418.97 31574.74 31178.49 31237.44 30603.10 % (QCHA) +.87 –2.64 +.19 –1.05 –1.05
% (QACH) +.25 –1.91 –.65 –.79 –.79

.
3M -6.49 2:00 32388.54 31497.86 31040.68 31169.25 30606.42
35300 % (QCHAQ) +.80 –2.12 +.02 –1.33 –1.33
American Express -5.36 2:30 32325.62 31414.12 31038.34 31144.48 30723.23

ly
Amgen -16.55 3:00 32350.05 31307.47 30998.37 31026.80 30761.04 Market Advance/Decline Totals
Apple -6.67 3:30 32326.55 31183.68 30951.41 30889.62 30760.93 NYSE NYSE
Boeing -13.23 Weekly Comp. NYSE Amer Nasdaq Arca
Close 32381.34 31104.97 31135.09 30961.82 30822.42
Caterpillar -10.02 Total Issues 3,576 305 5,456 1,944
34250 High (t) 32622.92 31989.12 31416.45 31444.56 30987.23 Advances 630 82 1,379 148
Chevron -3.52 Low (t) 32089.30 31011.55 30790.85 30740.50 30356.19 Declines 2,836 216 3,861 1,769
Cisco Systems -2.47

on
High (a) 32504.04 32006.50 31276.82 31277.69 30866.61 Unchanged 110 7 216 27
Coca-Cola -2.78 Low (a) 32159.49 31018.54 30885.02 30882.08 30550.08 New Highs 99 5 165 41
Disney -6.93 Change +229.63 –1276.37 +30.12 –173.27 –139.40 New Lows 480 42 736 315
Dow -4.09 33200 Week ended last Friday compared to previous Friday
Goldman Sachs -13.89 Theoretical (t): High 32622.92 Low 30356.19
Home Depot -23.80 Actual (a): High 32504.04 Low 30550.08 NYSE Composite Daily Breadth
Honeywell Intl -14.34 Daily Sep 12 13 14 15 16

us ,
IBM -1.92 32150 Issues Traded 3,377 3,381 3,367 3,357 3,360
Intel -2.22 Dow Jones 20 Transport (divisor: 0.16343894576034) Advances 2,430 379 1,662 937 861

l
Johnson & Johnson 1.89 Declines 771 2,893 1,526 2,281 2,347
Open (t) 14159.42 13917.92 13694.23 13692.51 12934.43 Unchanged 176 109 179 139 152
JPMorgan Chase -2.09

e
Open (a) 14105.51 14083.45 13686.40 13657.49 13009.52

al a
New Highs 42 17 33 18 13
McDonald's -4.61 10:00 14200.84 13965.85 13629.98 13709.19 12723.05
31100 New Lows 37 105 183 176 362
Merck 0.38 10:30 14254.24 13956.04 13478.46 13768.89 12859.36 Blocks - primary 3,804 4,035 4,080 4,140 6,268
Microsoft -19.72 11:00 14268.48 13889.62 13497.12 13690.94 12831.89 Total (000) - primary 830,185 930,602 994,354 984,816 3,384,037
Nike Cl B -6.85

ci on
11:30 14230.37 13893.72 13558.62 13603.24 12808.97 Total (000) 3,814,205 4,224,557 4,293,242 4,441,839 7,954,652
Procter & Gamble -1.68
12:00 14255.72 13855.72 13579.65 13648.64 12806.86 NYSE American Composite
Salesforce -11.08 30050 12:30 14215.28 13914.33 13575.56 13551.99 12787.47 Daily Sep 12 13 14 15 16
Travelers Cos -1.82
1:00 14236.08 13894.17 13652.02 13585.04 12772.57 Issues Traded 290 289 285 285 286
UnitedHealth Group -3.32
1:30 14261.74 13899.61 13663.39 13648.93 12713.39 Advances 146 74 118 121 97
Verizon Communications -0.99
2:00 14249.34 13888.87 13650.82 13642.79 12733.80 Declines 127 207 157 152 185
Visa Cl A -11.90
Walgreens Boots Alliance -1.97 29000 2:30 14243.94 13851.49 13595.44 13588.05 12707.83 Unchanged 17 8 10 12 4
3:00 14200.50 13799.01 13615.24 13592.54 12723.38 New Highs 1 ... 2 ... ...
Walmart -3.65 March April May June July August September

er s
3:30 14235.39 13728.05 13588.68 13462.64 12766.72 New Lows 2 10 15 12 33
Blocks - primary 157 132 203 141 229
Close 14252.66 13712.34 13655.74 13510.73 12825.34
Total (000) - primary 13,692 13,022 15,996 13,499 76,579
To reprint or license content, please contact Barron's reprints department at 800-843-0008 or www.djreprints.com

High (t) 14356.68 14050.97 13771.96 13845.69 13036.79 Total (000) 229,640 203,173 273,237 182,499 311,908
Transportation Low (t) 14084.68 13653.17 13369.67 13422.96 12539.91
m er High (a) 14303.53 14083.45 13696.71 13779.58 13009.52 Nasdaq
17100 Low (a) 14105.51 13656.79 13392.67 13450.20 12656.67 Daily Sep 12 13 14 15 16
Week's Change +191.75 –540.32 –56.60 –145.01 –685.39 Issues Traded 4,877 4,852 4,878 4,871 4,835
Components Change Advances 2,928 993 2,217 1,947 1,413
16650 Theoretical (t): High 14356.68 Low 12539.91 Declines 1,647 3,635 2,348 2,614 3,154
Alaska Air Group -2.18 Actual (a): High 14303.53 Low 12656.67 Unchanged 302 224 313 310 268
m rp
American Airlines Group -0.44 16200 New Highs 57 37 38 24 26
Avis Budget Group -20.89 New Lows 95 210 271 266 477
CH Robinson Worldwide -10.50 Dow Jones 15 Utilities (divisor: 1.27924906167720) Blocks - primary 22,122 29,390 30,403 26,694 29,531
15750 Total (000) 4,146,687 5,188,381 4,861,535 4,805,915 7,451,844
CSX -3.14
Open (t) 1051.81 1051.59 1032.32 1035.01 1017.01
Delta Air -0.55 NYSE Arca Composite
15300 Open (a) 1051.36 1054.08 1032.80 1034.88 1015.51
Expeditors Intl of Wash -10.63 Daily Sep 12 13 14 15 16
10:00 1050.82 1053.06 1037.08 1025.34 1014.72
For personal non-commercial use only. Do not edit or alter. Reproductions not permitted.

FedEx -48.05 Issues Traded 1,716 1,731 1,710 1,717 1,750

10:30 1054.57 1050.78 1044.23 1029.03 1019.08
JB Hunt Transport -7.59 14850 11:00 1060.13 1052.29 1047.51 1024.96 1016.52 Advances 1,422 135 1,083 231 322
co o

JetBlue Airways -0.35 Declines 268 1,589 593 1,461 1,400

11:30 1061.43 1048.05 1045.75 1025.46 1016.99
Kirby Corp -2.87 14400 Unchanged 26 7 34 25 28
12:00 1059.94 1049.25 1044.37 1023.54 1016.12 New Highs 13 4 2 4 11
Landstar System -5.68
Matson -4.99 12:30 1057.77 1049.51 1042.24 1020.94 1012.98 New Lows 22 85 41 112 228
13950 1:00 1057.84 1047.97 1044.20 1020.90 1011.98 Blocks - primary 1,055 1,321 1,054 1,083 1,229
F

Norfolk Southern -15.87

Old Dominion Freight -14.76 1:30 1059.53 1049.28 1044.67 1023.75 1014.12 Total (000) - primary 237,349 346,046 245,593 274,357 309,035
13500 2:00 1058.56 1048.14 1043.26 1022.03 1015.31 Total (000) 1,360,179 1,820,895 1,418,405 1,594,946 1,797,560
Ryder System -6.17
Southwest Airlines -3.64 2:30 1060.15 1043.76 1040.09 1018.78 1013.13
3:00 1060.31 1039.90 1039.09 1021.78 1014.52
Union Pacific
United Airlines
-19.88
-1.78
13050
3:30
Close
1060.17 1035.97 1038.48
1061.77 1032.47 1041.56
1016.51
1015.98
1014.26
1012.86
Other Market Indexes
United Parcel Service B -21.98 Daily 9/12 9/13 9/14 9/15 9/16
12600 High (t) 1064.53 1055.89 1049.03 1036.60 1022.23
March April May June July August September Low (t) 1048.15 1027.63 1031.57 1012.75 1007.80 NYSE Amer Comp 4278.19 4273.42 4401.39 4301.02 4228.96
High (a) 1063.15 1054.44 1048.19 1034.88 1020.19 AmMajorMkt 2856.13 2754.65 2766.97 2738.36 2720.36

Utilities Low (a)

Change
1049.76 1027.68 1032.72
+11.44 –29.30 +9.09
1014.07
–25.58
1011.06
–3.12
BNY ADR Idx
Europe
136.55
127.69
132.01
123.77
132.33
123.85
131.10
122.82
130.03
122.14
Latin Am 191.29 184.29 185.00 181.92 180.08
1100 Asia 164.80 158.83 159.60 158.16 156.27
Week's Theoretical (t): High 1064.53 Low 1007.80
Change Actual (a): High 1063.15 Low 1011.06 Emerg M 286.52 276.07 277.26 273.75 269.13
Components
DJ US TSM Float41446.19 39678.06 39811.85 39386.52 39038.34
n-

AES -1.51 Nasdaq Cmp 12266.41 11633.57 11719.68 11552.36 11448.40

American Elec Power -4.35 1050 100 Index 12739.72 12033.62 12134.40 11927.49 11861.38
Dow Jones 65 Composite (divisor: 0.77130165331605)
American Water Works -6.50 Indus. 9366.83 8936.28 9049.57 8969.66 8864.56
Open (t) 11090.90 10950.96 10746.16 10737.64 10455.99 Insur. 10811.99 10538.83 10574.80 10587.63 10472.16
Atmos Energy -4.08
Open (a) 11058.99 11028.74 10739.24 10733.17 10512.96 Banks 4348.61 4217.85 4223.49 4273.04 4233.12
Consolidated Edison -3.44
10:00 11155.20 10948.11 10732.47 10761.31 10392.09 Computer 9175.50 8628.31 8672.33 8478.91 8423.80
Dominion Energy -2.34
1000 10:30 11169.82 10922.44 10663.39 10710.55 10453.33 Telecom 389.83 369.83 374.36 369.67 369.83
no

Duke Energy -3.77

11:00 11158.84 10877.65 10748.00 10704.76 10424.90 NYSE Comp.-z 15352.18 14820.79 14843.21 14722.03 14573.91
Edison Intl -1.58 Financial-z 8965.19 8647.59 8632.07 8599.65 8526.57
Exelon -2.63 11:30 11171.51 10876.19 10735.89 10720.82 10423.42
12:00 11121.79 10867.68 10734.70 10672.77 10441.71 Health Care-z22743.06 22054.26 22016.96 22106.75 22009.71
FirstEnergy -0.31 Energy-z 12490.05 12181.34 12443.50 12135.34 11901.14
NextEra Energy -5.11 12:30 11129.78 10873.78 10732.80 10655.78 10395.38
950 1:00 11139.45 10878.04 10761.44 10686.68 10410.93
Russell 1000 2264.39 2167.18 2174.66 2150.87 2132.17
Public Svc Enterprise -1.64 2000 1906.09 1831.58 1838.46 1825.23 1798.19
Sempra -5.32 1:30 11158.54 10899.27 10761.64 10736.53 10397.55 3000 2384.91 2283.09 2291.01 2266.47 2245.92
Southern -2.27 2:00 11149.28 10868.72 10712.46 10710.19 10398.45 Value-v 1529.71 1473.25 1475.24 1464.79 1451.43
Xcel Energy -3.08 2:30 11127.97 10838.86 10713.97 10703.31 10425.67 Growth-v 2444.18 2325.05 2337.84 2303.47 2284.42
900 3:00 11134.02 10802.73 10706.67 10659.54 10438.20 MidCap 2870.72 2759.63 2760.26 2736.02 2697.24
3:30 11127.38 10758.91 10686.18 10613.12 10443.27 S&P 100 Index 1864.75 1778.94 1788.65 1766.80 1756.06
Close 11151.08 10736.91 10745.91 10638.68 10460.85 500 4110.41 3932.69 3946.01 3901.35 3873.33
High (t) 11225.23 11021.43 10838.28 10838.82 10553.61 Ind. 5708.28 5451.78 5478.73 5411.30 5377.04
Low (t) 11035.46 10697.97 10601.01 10571.19 10300.26 MidCap 2522.66 2429.26 2427.54 2412.83 2380.28
850 High (a) 11180.39 11028.74 10771.57 10778.79 10512.96 SmallCap 1208.97 1162.22 1161.99 1152.46 1144.98
March April May June July August September Low (a) 11058.99 10700.19 10659.79 10610.07 10372.26 Value Line(A) 8881.43 8527.13 8527.34 8459.15 8347.19
Value Line(G) 570.11 547.24 547.14 542.66 535.35
Change +104.78 –414.17 +9.00 –107.23 –177.83
DJ US Small TSM12943.87 12444.97 12480.61 12385.92 12194.99
Theoretical (t): High 11225.23 Low 10300.26 (A)-Arithmetic Index. (G)-Geometric Index.
Actual (a): High 11180.39 Low 10372.26 (v)-Value 1000 and Growth 1000. (y)-Dec. 31,1965=50. (z)-Dec. 31,2002=5000.
 54 BARRON’S September 19, 2022

D ATA MARKET LABORATORY B A R R O N S .C O M / D ATA

The Week In Stocks For the Major Indexes

12-Month Weekly Friday Weekly 12-Month Change From
Indexes’ P/Es & Yields
DJ latest 52-week earnings and dividends adjusted by Dow Divisors
Stock Volume
at Friday's close. S&P Dec. 4-quarter's GAAP earnings as reported Last Week Prev. Week Year Ago YOY % Chg
High Low High Low Close Chg. % Chg. Chg. % Chg. 12/31 % Chg. and indicated dividends based on Friday close.S&P 500 P/E ratios
based on GAAP earnings as reported. For additional earnings NYSE(a) 7,123,994 3,424,962 6,853,270 3.95
Dow Jones Indexes series, please refer to www.spglobal.com. DJ latest available book 30 Dow Inds (b) 2,090,266 1,359,169 1,845,616 13.26
36799.65 29888.78 30 Indus 32381.34 30822.42 30822.42 –1329.29 –4.13 –3762.46 –10.88 –5515.88 –15.18 values for FY 2021 and 2020, and S&P latest for 2021 and 2020. r- 20 Dow Trans (b) 616,484 385,112 499,767 23.35
17039.38 12825.34 20 Transp 14252.66 12825.34 12825.34 –1235.57 –8.79 –1442.62 –10.11 –3652.92 –22.17 Revised data 15 Dow Utils (b) 307,207 202,709 282,151 8.88
1071.75 869.74 15 Utilities 1061.77 1012.86 1012.86 –37.47 –3.57 109.06 12.07 32.08 3.27 65 Dow Stks (b) 3,013,957 1,946,989 2,627,535 14.71
NYSE American (a) 132,788 60,696 225,670 -41.16
12360.33 10078.81 65 Comp 11151.08 10460.85 10460.85 –585.45 –5.30 –870.49 –7.68 –1806.00 –14.72 Last Week Prev. Week Last Year Nasdaq(d) 26,454,362 17,800,100 24,260,606 9.04
Dow Jones Indexes
48918.18 36759.60 US TSM Float 41446.19 39038.34 39038.34 –1967.87 –4.80 –6957.05 –15.13 –9595.97 –19.73 DJ Ind Avg 30822.42 32151.71 34584.88 NYSE 15 Most Active
1188.95 895.28 US Market 1008.71 950.02 950.02 –48.08 –4.82 –164.21 –14.74 –232.29 –19.65 P/E Ratio 18.31 19.10 23.46 Average Price 16.84 25.96 26.16 -35.63
Earns Yield % 5.46 5.24 4.26 % Tot Vol 12.26 14.06 13.66 -10.25
1137.37 555.93 Internet 664.63 616.93 616.93 –39.31 –5.99 –502.63 –44.90 –409.55 –39.90 Stock Offerings $(z,v) 5,769,600 r428,500 12,168,500 -52.59
New York Stock Exchange Earns $ 1683.15 1683.15 1474.40
Divs Yield % 2.19 2.09 1.78
17353.76 14097.05 Comp-z 15352.18 14573.91 14573.91 –616.88 –4.06 –1886.44 –11.46 –2590.22 –15.09 Daily Stock Volume 9/12 9/13 9/14 9/15 9/16

.
Divs $ 673.85 673.45 615.36
10670.71 8106.90 Financial-z 8965.19 8526.57 8526.57 –343.08 –3.87 –1422.28 –14.30 –1648.79 –16.20 NYSE(a) 830,185 930,602 994,354 984,816 3,384,037
Mkt to Book 4.14 4.32 5.29

ly
24968.12 21119.06 Health Care-z 22743.06 22009.71 22009.71 –534.85 –2.37 –647.02 –2.86 –2335.94 –9.59 30 Inds (b) 339,249.0 428,926.7 348,669.4 345,502.8 627,918.3
Book Value $ 7439.45 7439.45 6543.35 20 Trans (b) 85,361.0 92,874.0 107,223.2 122,498.3 208,527.3
14030.84 7996.09 Energy-z 12490.05 11901.14 11901.14 –388.88 –3.16 3692.62 44.99 2754.95 30.12
DJ Trans Avg 12825.34 14060.91 14267.96 15 Utils (b) 41,415.3 46,043.9 44,829.5 60,133.2 114,785.0
NYSE American Stock Exchange
P/E Ratio 11.44 12.54 57.25 65 Stks (b) 466,025.3 567,844.6 500,722.1 528,134.3 951,230.6
4472.10 2944.59 NYSE Amer Comp 4401.39 4228.96 4228.96 –33.83 –0.79 1220.51 40.57 801.73 23.39 Earns Yield % 8.75 7.98 1.75 NYSE Amer(a) 13,692 13,022 15,996 13,499 76,579
3198.39 2645.07 Major Mkt 2856.13 2720.36 2720.36 -108.70 –3.84 –308.56 –10.19 –413.59 –13.20 Earns $ 1121.58 1121.58 249.23 Nasd(d) 4,146,687 5,188,381 4,861,535 4,805,915 7,451,844
Standard & Poor's Indexes

on
Divs Yield % 1.44 1.31 1.14 NYSE 15 Most Active
2219.44 1671.23 100 Index 1864.75 1756.06 1756.06 –86.46 –4.69 –281.56 –13.82 –438.52 –19.98 Divs $ 184.86 184.86 162.19 Avg. Price 19.97 18.05 17.69 17.13 23.91
4796.56 3666.77 500 Index 4110.41 3873.33 3873.33 –194.03 –4.77 –559.66 –12.62 –892.85 –18.73 Mkt to Book 3.99 4.37 4.82 % Tot Vol 14.76 15.35 14.77 16.02 13.78
6735.36 5106.22 Indus 5708.28 5377.04 5377.04 –269.29 –4.77 –837.07 –13.47 –1312.27 –19.62 Book Value $ 3214.72 3214.72 2957.33 Numbers in thousands save price and percentages. (a) Primary volume. (b) Composite volume. (d) as of 4:10 pm.
2910.70 2200.75 MidCap 2522.66 2380.28 2380.28 –117.77 –4.71 –297.78 –11.12 –461.72 –16.25 DJ Utility Avg 1012.86 1050.33 903.80 (r) Revised. (v) W/E Thursday. (z) Source: Refinitiv.
1466.02 1087.48 SmallCap 1208.97 1144.98 1144.98 –48.71 –4.08 –186.37 –14.00 –256.73 –18.32 P/E Ratio 28.18 29.22 25.34
Nasdaq Stock Market Earns Yield % 3.55 3.42 3.95

us ,
16057.44 10646.10 Comp 12266.41 11448.40 11448.40 –663.90 –5.48 –3595.56 –23.90 –4196.57 –26.82 Earns $ 35.94 35.94 35.67
16573.34 11127.57 100 Index 12739.72 11861.38 11861.38 –726.91 –5.77 –3472.09 –22.64 –4458.70 –27.32 Divs Yield % 2.88 2.78 3.05 NYSE Half Hour Volume

l
12147.21 7627.45 Indus 9366.83 8864.56 8864.56 –371.50 –4.02 –2227.03 –20.08 –2448.32 –21.64 Divs $ 29.17 29.15 27.59

e
11694.54 9622.71 Insur 10811.99 10472.16 10472.16 –253.26 –2.36 –344.08 –3.18 –944.24 –8.27 Mkt to Book 2.33 2.41 2.30 Daily 9/12 9/13 9/14 9/15 9/16

al a
5408.36 3886.15 Banks 4348.61 4217.85 4233.12 –83.44 –1.93 –228.11 –5.11 –721.55 –14.56 Book Value $ 435.47 435.47 392.45
12408.55 8207.01 Computer 9175.50 8423.80 8423.80 –618.01 –6.84 –2688.73 –24.20 –3731.73 –30.70 S&P 500 Index 3873.33 4067.36 4432.99 9:30-10:00 111,543 117,083 98,952 104,986 337,250
527.15 369.67 Telecom 389.83 369.67 369.83 –17.64 –4.55 –157.32 –29.84 –126.97 –25.56 P/E Ratio 19.57 20.55 34.58 10:00-10:30 45,907 50,461 50,779 51,014 52,296

ci on
Russell Indexes Earns Yield % 5.11 4.87 2.89 10:30-11:00 41,815 42,787 47,050 49,225 43,645
2660.78 2009.94 1000 2264.39 2132.17 2132.17 –108.31 –4.83 –358.07 –14.38 –513.74 –19.42 Earns $ 197.91 197.91 128.20
11:00-11:30 33,444 34,856 37,068 41,525 38,228
2442.74 1649.84 2000 1906.09 1798.19 1798.19 –84.66 –4.50 –438.68 –19.61 –447.12 –19.91 Divs Yield % 1.73 1.65 1.37
Divs $ 67.01 67.11 60.73 11:30-12:00 29,493 29,387 30,257 32,533 32,215
2804.93 2113.70 3000 2384.91 2245.92 2245.92 –113.58 –4.81 –387.56 –14.72 –542.22 –19.45
1680.11 1389.97 Value-v 1529.71 1451.43 1451.43 –64.65 –4.26 –115.52 –7.37 –204.30 –12.34 Mkt to Book 3.84 4.03 4.78 12:00-12:30 27,946 27,247 29,951 30,751 30,748
3114.73 2110.82 Growth-v 2444.18 2284.42 2284.42 –130.08 –5.39 –595.36 –20.67 –790.57 –25.71 Book Value $ 1008.02 1008.02 927.52 12:30-1:00 24,169 24,936 29,389 25,341 29,265
3406.42 2508.30 MidCap 2870.72 2697.24 2697.24 –145.28 –5.11 –511.74 –15.95 –622.80 –18.76 S&P Ind Index 5377.04 5646.33 6214.11
1:00-1:30 24,177 28,323 27,777 36,567 26,798
Others P/E Ratio 21.88 22.97 41.54
1:30-2:00 22,070 27,812 32,752 26,973 29,589

er s
10202.83 7811.99 Value Line-a 8881.43 8347.19 8347.19 –432.35 –4.92 –1155.66 –12.16 –1573.74 –15.86 Earns Yield % 4.57 4.35 2.41
Earns $ 245.77 245.77 149.59 2:00-2:30 27,695 28,999 31,079 29,795 38,223
696.40 510.18 Value Line-g 570.11 535.35 535.35 –28.29 –5.02 –118.68 –18.15 –136.59 –20.33
To reprint or license content, please contact Barron's reprints department at 800-843-0008 or www.djreprints.com

16368.58 11225.29 DJ US Small TSM 12943.87 12194.99 12194.99 –596.68 –4.66 –2923.90 –19.34 –3059.06 –20.05 Divs Yield % 1.56 1.48 1.22 2:30-3:00 24,563 33,052 30,716 32,668 38,100
Divs $ 83.88 83.57 75.81
1096.30
1127.20
769.43
852.16
Barron's Future Focus
Barron's 400
876.05
947.44
824.90
893.95
824.90
893.95
m er
–43.79
–45.03
–5.04
–4.80
–221.28
–126.97
–21.15
–12.44
–235.97
–212.31
–22.24
–19.19
Mkt to Book 5.16 5.42 6.63
3:00-3:30
3:30-4:00
31,149
386,216
41,701
443,959
41,755
506,831
45,807
477,630
49,716
2,637,963
Book Value $ 1042.07 1042.07 936.72
High/Low's are based upon the daily closing index. a-Arithmetic Index. G-Geometric Index. V-Value 1000 and Growth 1000 y-Dec. 31,1965=50 z-Dec. 31,2002=5000

Selected IPOs
m rp
U.S. Dollar Index vs Euro and Yen Per Share Values of Stocks Ticker Initial Offer Price IPO Date Recent Price %Chg
Nexalin Technology NXL 4.15 9/16 2.25 -45.8%
Greener: The U.S. dollar gained on expectations for a rate hike at next week’s Fed meeting. The British
pound hit $1.14—its lowest level against the dollar since 1985. Japan’s central bank considered intervention, In the Dow Jones Averages Corebridge Financial
Third Harmonic Bio
CRBG
THRD
21.00
17.00
9/15
9/15
20.72
18.00
-1.3%
5.9%
after the yen neared 24-year lows. The ICE U.S. Dollar Index rose 0.6% on the week, to end at 109.64. This is a list of the Dow Jones trailing 52-week diluted share LINKBANCORP LNKB 7.50 9/14 7.50 0.0%
For personal non-commercial use only. Do not edit or alter. Reproductions not permitted.

earnings, dividends and book values as reported by the company. Wearable Devices WLDS 4.25 9/13 2.34 -44.9%
20 Bolded numbers indicate new values. Sources Barron's Stats and
FactSet.
co o

15 Industrial Stocks
s
10 Book Book
DXY (109.64) Earns Divs. Value Earns Divs. Value
New Listings
F

5
0
Am Exp
Amgen
9.75 1.90 29.14
11.80 7.44 12.00
Johnson&John 6.87 4.38 28.16
JPMorgChase 12.46 4.00 88.07 Investor Sentiment Readings NYSE
Apple 6.06 0.90 3.84 McDonalds 9.47 5.52 (6.17) High bullish readings in the Consensus stock index or in the Market
EURO in $ Boeing (9.27) Suspended (25.47) Merck Co 5.59 2.76 15.11 Vane stock index usually are signs of Market tops; low ones, market Corebridge Financial (CRBG)
-5 Caterpillar 12.50 4.53 30.76 Microsoft 9.64 2.48 22.31 bottoms.
Permian Resources (PR)
s Last Week 2 Weeks Ago 3 Weeks Ago
Chevron Corp 12.78 5.60 72.06 Nike Inc 3.76 1.22 9.73
-10 Cisco Sys 2.82 1.50 9.79 Proc Gam 5.81 3.5662 19.11
Nasdaq
Consensus Index
s Coca Cola 2.21 1.74 5.32 3M Co 7.16 5.95 26.31 LINKBANCORP (LNKB)
-15 Disney Walt 1.72 0.00 48.71 Salesforce.com 0.54 0.00 58.78 Consensus Bullish Sentiment 40% 41% 44% Third Harmonic Bio (THRD)
YEN in $ Dow 8.92 2.80 24.71 Travelers Cos 14.41 3.62 119.76
-20 AAII Index
Wearable Devices (WLDS)
Goldman Sachs 44.23 8.50 297.50 UnitedHealthGrp 19.15 6.20 76.26
-25 Home Depot 16.27 7.35 (1.64) Verizon 4.99 2.56 19.48

O N D J F M A M J J A S
Honeywell
IBM
7.53
6.16
3.92 27.12
6.58 21.05
Visa 6.78 1.50 16.32
Walgreens 6.20 1.9125 27.06
Bullish
Bearish
26.1%
46.0
18.1%
53.3
21.9%
50.4
Trading
Source: Tullett Prebon Intel 6.02 1.4425 23.44 Wal-mart 5.01 2.23 30.15 Neutral 27.9 28.7 27.7 Suspended
n-

Transportation Stocks Market Vane NYSE

CatchMark Timber Trust (CTT)
Bullish Consensus 37% 36% 35% Nasdaq
AlaskaAirGroup 1.62 Suspended 30.19 Kirby Corp (3.84) Nil 48.02

Yearly High/Lows Gold Prices 144 Filings AmericanAirlines

AvisBudgetGrp
(3.03) Suspended (11.33)
42.50 Nil (3.93)
Landstar Sys
Matson Inc
11.96
33.55
1.05 22.87
1.21 40.67
TIM Group Market Sentiment ALJ Regional (ALJJ)
Hemisphere Media (HMTV)
Mandiant (MNDT)
no

C.H. Robinson 7.11 2.20 15.65 Norf Southern 12.56 4.81 56.80 Indicator 45.5% 51.0% 43.6% ManTech (MANT)
The yearly Gold price; with a high/low range based on the daily close. SEC Form 144 must be filed by holders of restricted securities (also called letter stock) who intend to
CSX Corp 1.78 0.393 6.13 Old Dominion 9.79 1.10 32.00 Permian Resources (PR)
sell shares. Shares Indicated: the number to be sold. Sales Date: the approximate date of the sale. Sources: Consensus Inc.; American Association of
Year High Date Low Date (Sometimes shares aren't sold, even though their owner has filed a Form144.) Source: Thomson Delta Air Lines 0.92 Suspended 6.07 Ryder Sys 13.97 2.36 52.02 USA Truck (USAK)
Individual Investors; Market Vane; TIM Group
Reuters Expeditors Int'l 9.07 1.16 20.90 Southwest Air 0.94 Nil 17.59
2022
2021
2020
2039.05
1943.20
2067.15
Mar.
Jan.
Aug.
08
04
06
1664.65
1683.95
1474.25
Sept
Mar.
Mar.
16
30
19
Shares Sale
Title
FedEx
Hunt (JB)
14.30 3.80 95.98
8.87 1.50 29.67
Un Pacific
UPS
10.73
12.45
4.96 22.17
5.58 16.38 Name
Company Sym Indicated $ Value Date Seller JetBlue Air (0.58) Nil 12.03 United Airlines (3.79) Nil 15.53
Arms Index Changes
Coming U.S. Auctions Archer-Daniels-Midland
Liberty Energy
ADM 284,531 25,948,913
LBRT 249,600 3,744,000
9/9/22
9/6/22
Luciano, Juan
Wright, ChristopherCEO
CEO
Utility Stocks The Arms index, also known as the short term trading index, NYSE
is a number derived by dividing one quotient into another None
Yields (%) Fluence Energy FLNC 146,000 2,765,240 9/2/22 Fehr, Dennis CFO quotient. The numerator in the index is the number of
AES Corp. (0.58) 0.6245 2.96 Exelon 2.71 1.395 35.13 advancing stocks divided by the number of declining stocks. NYSE American
Monday When Issued* Last Auction Avnet AVT 139,784 5,970,175 9/2/22 Lawrence, James D As of 3/14/11, the denominator in the index is now the
Am Elec 5.09 3.12 44.49 FirstEnergy 2.46 1.56 15.21 composite volume of advancing stocks divided by the None
$54.0 bil 3-month 3.090 3.075 New Relic NEWR 138,000 8,170,980 9/7/22 Cirne, Lewis AF composite volume of declining stocks.
AmericanWaterWorks 7.09 2.515 40.18 NextEra Energy 1.31 1.66 18.95 Nasdaq
$42.0 bil 6-month 3.673 3.465 Boston Scientific BSX 125,828 5,094,313 9/6/22 Mahoney, Michael UT Atmos Energy 5.52 2.72 59.71 Xcel Energy 2.99 1.92 28.70 Daily 9/12 9/13 9/14 9/15 9/16 Invivyd (IVVD), formerly
Tuesday Tempur Sealy International TPX 100,000 2,700,000 9/7/22 Montgomery, David O Con Ed 4.57 3.145 56.60 Pub Sv Ent (0.62) 2.13 28.65 Adagio Therapeutics (ADGI)
Livent LTHM 85,171 2,980,985 9/9/22 Graves, Paul CEO DominionEnergy 2.67 2.6325 31.51 Sempra Energy 3.57 4.49 79.17 Lisata Therapeutics (LSTA),
$12.0 bil 20-year 3.479 3.380 NYSE .48 2.48 .98 .74 1.63
Duke Energy 4.94 3.96 61.55 Southn Co. 2.16 2.68 25.36 formerly Caladrius Bio (CLBS)
Enphase Energy ENPH 82,835 24,934,670 9/9/22 Kothandaraman,Badrinarayanan UT NYSE American .79 1.82 .37 1.76 .55 Nauticus Robotics (KITT),
* As of Friday afternoon. Edison Int'l 1.54 2.7625 36.57
Fidelity National Information Services FIS 80,000 7,271,318 9/9/22 Norcross, Gary CEO Nasdaq .67 .99 .55 1.11 1.54 formerly CleanTech (CLAQ)
 September 19, 2022 BARRON’S 55

D ATA MARKET LABORATORY B A R R O N S .C O M / D ATA

Dow Jones U.S. Total Market Industry Groups CBOE Put / Call Ratio Foreign Exchange
Foreign
Currency
Foreign
Currency
U.S. $ in
Foreign
U.S. $ in
Foreign

Net Change % Change and Ranking 52 Week

vs. S&P 100 Country
in U.S.$
Fri.
in U.S.$
Last Fri.
Currency
Fri.
Currency
Last Fri.
Top 20 Weekly Ranked IG-Sym Close Wkly YTD Week Rank Yr Ago Rank YTD Rank 3 Yr High Low Readings in the CBOE equity put-call ratio of 60:100 and in the Argentina (Peso)-y .0070 .0071 143.5201 141.3660
S&P 100 of 125:100 are considered bullish, for instance. Bearish Australia (Dollar) .6719 .6844 1.4883 1.4611
Recreational Svcs DJUSRQ 70.09 + 1.73 –29.57 +2.52 [1] –30.01 [122] –29.67 [120] –21.43 118.47 56.12 signals flash when the equity put-call level reaches the vicinity of Bahrain (Dinar) 2.6525 2.6525 .3770 .3770
Diversified REITs DJUSDT 70.89 + 1.69 –.86 +2.45 [2] +3.23 [29] –1.19 [21] –6.17 72.62 62.27 30:100 and the index ratio hits 75:100. Brazil (Real) .1903 .1943 5.2535 5.1478
Automobiles DJUSAU 1079.88 + 10.01 –231.14 +.94 [3] +13.03 [11] –17.63 [66] +80.95 1,491.73 769.12 Bulgaria (Lev) .5107 .5133 1.9581 1.9481
Canada (Dollar) .7540 .7674 1.3262 1.3031
Automobiles & Parts DJUSAP 1214.75 + 7.56 –278.30 +.63 [4] +8.76 [19] –18.64 [73] +59.78 1,683.79 881.74 S&P 100 CBOE Chile (Peso) .001084 .001104 922.37 905.48
Travel & Tourism DJUSTT 617.82 + 3.41 –200.44 +.56 [5] –22.21 [101] –24.50 [96] –5.81 920.55 468.89 China (Renminbi) .1432 .1444 6.9838 6.9265
Exploration & Production DJUSOS 997.75 + 2.91 328.51 +.29 [6] +72.92 [1] +49.09 [3] +19.30 1,136.46 548.64 7.90 0.85 Colombia (Peso) .0002255 .0002297 4435.20 4353.00
Travel & Leisure DJUSCG 1207.58 – 1.03 –258.62 –.09 [7] –15.32 [71] –17.64 [67] –2.81 1,551.37 1,021.84 Croatia (Kuna) .1330938 .1335345 7.51 7.49
Pipelines DJUSPL 693.18 – .90 95.78 –.13 [8] +17.84 [7] +16.03 [6] +.45 762.34 562.56 Czech. Rep. (Koruna) …… .. …… .. …… .. …… ..
Oil & Gas Producers DJUSOG 802.12 – 2.35 266.59 –.29 [9] +71.21 [2] +49.78 [2] +13.77 898.63 446.54 Commercial rate .04084 .04090 24.486 24.453

.
Gambling DJUSCA 521.71 – 1.58 –187.46 –.30 [10] –36.18 [132] –26.43 [105] –13.18 864.14 420.78 6.45 0.75 Denmark (Krone) .1347 .1351 7.4249 7.4042
EcuadorUS Dollar 1.0000 1.0000 1.0000 1.0000

ly
Hotels DJUSLG 2557.80 – 9.11 –339.85 –.35 [11] +3.02 [30] –11.73 [46] +7.31 3,024.19 2,146.14
Egypt (Pound)-y .0515 .0517 19.4195 19.3310
Restaurants & Bars DJUSRU 2358.59 – 11.02 –327.00 –.46 [12] –7.29 [47] –12.18 [47] +5.69 2,685.59 2,020.05 Hong Kong (Dollar) .1274 .1274 7.8495 7.8492
Oil Equip, Svcs & Distri DJUSOQ 334.40 – 1.61 55.32 –.48 [13] +21.63 [6] +19.82 [5] –.32 405.59 258.82
Hotel & Lodging REITs DJUSHL 94.07 – .57 3.84 –.60 [14] +9.61 [17] +4.26 [11] –5.54 110.21 79.70
5.00 0.65 Hungary (Forint) .002476 .002532 403.85 395.02
Iceland (Krona) .007165 .007139 139.56 140.08
Airlines DJUSAR 151.61 – 1.23 –28.96 –.80 [15] –20.96 [95] –16.04 [57] –17.66 217.11 136.54 India (Rupee) .01255 .01255 79.696 79.670
Integrated Oil & Gas DJUSOL 698.24 – 5.62 234.13 –.80 [16] +69.74 [3] +50.45 [1] +9.62 774.93 392.80 Indonesia (Rupiah) .0000669 .0000674 14953 14830

on
Oil Equipment & Svcs DJUSOI 226.67 – 1.94 44.53 –.85 [17] +26.22 [5] +24.45 [4] –.78 304.14 165.88 3.55 0.55 Israel (Shekel) .2918 .2933 3.4268 3.4095
Property & Casualty DJUSIP 1167.20 – 10.97 52.59 –.93 [18] +10.04 [16] +4.72 [10] +8.02 1,252.23 1,029.56 Japan (Yen) .006996 .007014 142.93 142.58
Kazakhstan (Tenge) .002102 .002115 475.66 472.86
Health Care Providers DJUSHP 3254.22 – 31.10 –5.46 –.95 [19] +13.59 [10] –.17 [19] +20.99 3,455.10 2,711.82
Kuwait (Dinar) 3.2360 3.2419 .3090 .3085
Pharmaceuticals DJUSPR 761.47 – 11.29 –37.80 –1.46 [20] +5.79 [23] –4.73 [30] +11.14 838.15 700.21 Macau (Pataca) .1236 .1236 8.0890 8.0885
2.10 0.45 Malaysia (Ringgit)-b .2205 .2223 4.5355 4.4980
Net Change % Change and Ranking 52 Week Mexico (Peso) …… .. …… .. …… .. …… ..

us ,
Top 20 Yr Ago Ranked IG-Sym Close Wkly YTD Week Rank Yr Ago Rank YTD Rank 3 Yr High Low Floating rate .0499 .0503 20.0372 19.8854
New Zealand (Dollar) .5994 .6107 1.6683 1.6375
0.65 0.35

l
Exploration & Production DJUSOS 997.75 + 2.91 328.51 +.29 [6] +72.92 [1] +49.09 [3] +19.30 1,136.46 548.64 Norway (Krone) .0981 .1008 10.1964 9.9240
Oil & Gas Producers DJUSOG 802.12 – 2.35 266.59 –.29 [9] +71.21 [2] +49.78 [2] +13.77 898.63 446.54 SO N D J F M A M J J A S Oman (Rial) 2.5974 2.5970 .3850 .3851

e
al a
Integrated Oil & Gas DJUSOL 698.24 – 5.62 234.13 –.80 [16] +69.74 [3] +50.45 [1] +9.62 774.93 392.80 Pakistan (Rupee) .00418 .00435 239.125 229.875
Marine Transportation DJUSMT 220.22 – 6.27 25.18 –2.77 [40] +26.23 [4] +12.91 [8] –6.81 245.86 157.43 Source: CBOE Philippines (Peso) .01744 .01760 57.347 56.820
Oil Equipment & Svcs DJUSOI 226.67 – 1.94 44.53 –.85 [17] +26.22 [5] +24.45 [4] –.78 304.14 165.88 Poland (Zloty) .2122 .2139 4.7134 4.6748
Qatar (Rial) .2735 .2747 3.6561 3.6407
Oil Equip, Svcs & Distri DJUSOQ 334.40 – 1.61 55.32 –.48 [13] +21.63 [6] +19.82 [5] –.32 405.59 258.82

ci on
Russia (Ruble)-a .01653 .01626 60.500 61.500
Pipelines
Gas Distribution
DJUSPL
DJUSGU
693.18
312.21
– .90
– 9.73
95.78
10.63
–.13
–3.02
[8]
[45]
+17.84
+16.41
[7]
[8]
+16.03
+3.52
[6]
[13]
+.45
–1.64
762.34
341.25
562.56
262.00 Coming Earnings Saudi Arabia (Riyal)
Singapore (Dollar)
.2661
.7112
.2661
.7147
3.7580
1.4060
3.7576
1.3991
Defense DJUSDN 551.74 – 10.61 66.48 –1.89 [26] +16.38 [9] +13.70 [7] +3.16 599.78 449.65 South Africa (Rand) .0568 .0578 17.6095 17.3052
Health Care Providers DJUSHP 3254.22 – 31.10 –5.46 –.95 [19] +13.59 [10] –.17 [19] +20.99 3,455.10 2,711.82 Day Consensus Year South Korea (Won) .0007214 .0007246 1386.15 1380.06
Automobiles DJUSAU 1079.88 + 10.01 –231.14 +.94 [3] +13.03 [11] –17.63 [66] +80.95 1,491.73 769.12 Estimate Ago Sri Lanka (Rupee) .0027 .0028 365.3800 360.0000
Heavy Construction DJUSHV 857.54 – 31.47 34.32 –3.54 [64] +11.45 [12] +4.17 [12] +24.11 903.00 701.03 Sweden (Krona) .0931 .0941 10.7410 10.6235
Switzerland (Franc) 1.0366 1.0416 .9647 .9601
Multiutilities DJUSMU 259.92 – 8.50 20.48 –3.17 [48] +11.35 [13] +8.56 [9] +4.56 274.00 218.90
Continued from page 13 Taiwan (Dollar) .03195 .03240 31.295 30.864
Electricity DJUSEU 351.54 – 11.98 11.57 –3.30 [53] +10.60 [14] +3.40 [14] +5.89 367.22 299.37

er s
Thailand (Baht) .02716 .02748 36.820 36.390
Conventional Electricity DJUSVE 351.95 – 11.99 11.56 –3.30 [54] +10.60 [15] +3.40 [15] +5.88 367.66 299.74 Turkey (New Lira)-d .0548 .0548 18.2555 18.2345
Property & Casualty DJUSIP 1167.20 – 10.97 52.59 –.93 [18] +10.04 [16] +4.72 [10] +8.02 1,252.23 1,029.56 W Ukraine (Hryvnia) .0271 .0271 36.8500 36.8500
To reprint or license content, please contact Barron's reprints department at 800-843-0008 or www.djreprints.com

Hotel & Lodging REITs DJUSHL 94.07 – .57 3.84 –.60 [14] +9.61 [17] +4.26 [11] –5.54 110.21 79.70 KB Home (Q3) 2.66 1.60 U.K. (Pound) 1.1423 1.1588 .8754 .8630
Food Retailers & Whlslrs
Automobiles & Parts
DJUSFD
DJUSAP
811.75
1214.75
– 53.24
+ 7.56
m er
–67.91
–278.30
–6.16
+.63
[122]
[4]
+9.29
+8.76
[18]
[19]
–7.72
–18.64
[36]
[73]
+17.01
+59.78
962.72
1,683.79
705.63
881.74
Lennar (Q3) 4.86 4.52
Uruguay (Peso)
Financial
…… ..
.02441
…… ..
.02451
…… ..
40.965
…… ..
40.795
Euro 1.0015 1.0046 .9985 .9954
Waste & Disposal Svcs DJUSPC 484.98 – 7.93 4.75 –1.61 [21] +8.33 [20] +.99 [16] +14.99 497.83 399.04
TH Special Drawing Rights (SDR) are based on exchange rates for the U.S.,
British, and Japanese currencies. Source: International Monetary Fund.
Groups are weighted by capitalization. 52-week highs and lows are based on daily closes. Dec. 31, 1991=100. In the U.S. listings, % vol chg column shows the change from previous 65-day moving a-Russian Central Bank rate. b-government rate. d-rebased as of Jan. 1,
Costco Wholesale (Q4) 4.17 3.90
average. Volume figures do not reflect extended trading hours. 2005. y-floating rate.
Darden Restaurants (Q1) 1.56 1.76
m rp
FactSet Reasearch (Q4) 3.21 2.88
FedEx (Q1) 5.17 4.37 Money Rates
(Earnings are diluted and report dates are tentative. All fore-
Delta Market Pulse of the Economy
casts and historical numbers exclude extraordinary items by
accounting definitions.)
Latest Week Prev. Week Yr Ago

Discount Rate (NY) 2.50 2.50 0.25

Sentiment Source: FactSet
For personal non-commercial use only. Do not edit or alter. Reproductions not permitted.

Only includes new reports. Latest Latest Preceding Year YroYr Latest Latest Preceding Year YroYr Prime Rate (base) 5.50 5.50 3.25
Economic Growth and Investment Date Data Period Ago % Chg Date Data Period Ago % Chg
Indicator Fed Funds Rate
co o

The Delta MSI measures the

Durable manufacturing (NAICS) a,
Capacity utilization %
Aug
Aug
103.6
80.0
r103.6
r80.2
100.2
76.2
3.39
4.99
Gasoline, (thous. bbls)
Inventory–to–sales ratio (Business)
Sept 9 213,040 214,808 218,142 –2.34
July 1.32 1.30 1.26 4.76 Conference Call Calendar Avg effective offer
Avg weekly auction-c
2.33
2.33
2.33
2.33
0.08
0.08
position of a representative set Industrial output a, Aug 104.5 r104.7 101.3 3.16 Orders
of stocks relative to an Earnings- T-Bills Rate
F

Manufacturing (NAICS) a, Aug 102.7 r102.6 100.2 2.50 No Activity for this Week Related
intermediate-term moving
average crossover (MAC) point. Nondurable manufacturing (NAICS) a Aug 101.7 101.5 98.7 3.04 Company Date Time Period 13 weeks, Coupon Yield 3.142 3.029 0.041
Trade
When greater than 50% of the 13 weeks, Auction Rate 3.075 2.965 0.040
stocks followed are above this Production No Activity for this Week Accenture PLC September 22 8:00AM Q4 26 weeks, Coupon Yield 3.576 3.424 0.051
MAC point, the market is Darden Restaurants September 22 8:30AM Q1 26 weeks, Auction Rate 3.465 3.320 0.050
bullish. When the indicator is Electric power, (mil. kw hrs) (EEI) Sept 10 83,200 88,595 80,448 3.42 Inflation Factset Research Systems September 22 11:00AM Q4 Avg weekly auction-c 2.97 2.87 0.05
below 50%, risk is elevated and Mining (NAICS) a, Aug 116.6 r116.6 106.5 9.48 General Mills September 21 9:00AM Q1 Broker Call Rate 4.25 4.25 2.00
stock exposures should be JOC–ECRI Industrial Price Index f Sept 16 130.60 131.68 141.80 –7.90
reduced. Manager uses Petroleum, related capacity, % Sept 9 91.5 90.9 82.1 11.45 Source: CCBN, www.ccbn.com Bankers Acceptances
Consumer price index b (unadjusted) Aug 296.2 296.3 273.6 8.26
discretion on asset allocation Rotary rigs running, U.S. & Can., (Hughes) Sept 16 974 964 666 46.25 Producer price index (finished goods) c Aug 252.0 r255.1 223.2 12.90
when MSI is at 50% +/- 3%. Steel, (thous. tons) Sept 10 1,723 1,715 1,882 –8.45 1 month 2.55 2.55 0.12
Rate of inflation, % (annual, unadjusted) Aug 8.3 8.5 5.3 56.60 2 months 2.75 2.75 0.13
Steel, rated capacity, % (AISI) Sept 10 78.2 77.8 85.3 –8.32
Barron’s 50-Stock Average
Bullish
3 months 3.00 3.00 0.15
Utilities a Aug 103.6 r106.1 105.8 –2.08 Employment 6 months 3.70 3.70 0.20

Consumption and Distribution Initial jobless claims (thous.) Sept 10 213 r218 363 –41.32 Libor Interbank Rate
Continuing claims (mil.) Sept 3 1.403 r1.401 2.628 –46.61
Current Sentiment This index is a weighted average of 50 leading issues. Useful in secu-
n-

Business sales, (mil. $) July 1,839.52 r1,856.57 1,634.91 12.52 Small Business Optimism Index 1 month 3.01 2.77 0.08
Aug 91.8 89.9 100.1 –8.29 rity valuation. Source: Barron's Stats 3 months 3.57 3.25 0.12
Instinet Research Redbook Avg. (monthly %) Sept 10 –0.50 –1.10 10.00 ….

56.7%
6 months 4.12 3.81 0.15
Construction Sep 15 Sep 8 Sept Yr-to-Yr
Baltic Dry Index Sept 16 1,553 1,213 4,275 –63.67 12 months 4.67 4.19 0.22
Retail store sales, (bil. $) Aug 683.3 r681.3 626.0 9.15 No Activity for this Week 2022 2022 2021 % Chg
Foreign Prime Rates
Other Indicators S&P 500 Index 3901.35 4006.18 4488.24 –13.08
Last Week Inventories Canada 5.45 4.70 2.45
no

Barron’s 50 Index 10766.63 11122.97 10851 –0.78

Business inventories, (bil. $) July 2,434.32 r2,420.09 2,056.14 18.39 Citi Research Panic–Euphoria Reading Sept 16 –0.14 –0.16 0.67 …. Germany 1.25 0.50 0.00

48.1%
a-1997 equals 100. b-1982-84 equals 100. c-1982 equals 100. f-1996 equals 100. h- Projected quarterly earn 178.65 178.65 137.58 29.85 Japan 1.475 1.475 1.475
Domestic crude oil, (thous. bbls) Comm. (Excl. Lease Stck) Sept 9 429,633 427,191 417,445 2.92 benchmark revision, 2016 equals 100. r-Revised. Switzerland 0.25 0.25 0.00
Annualized projected earn 714.58 714.58 550.32 29.85 Britain 1.75 1.75 0.10
Annualized projected P/E 15.07 15.57 19.7 –23.59
Other Money Rates
2 Weeks ago Five-year average earn 431.53 431.53 391.95 10.10 Fannie Mae Home Loan:
30-Year Fixed Conv 5.69 5.34 2.40
American Debt and Deficits Adjustable Mortgage Rates Five-year average P/E 24.95 25.78 27.7 –9.92

61.6%
Bank money market-z 0.13 0.13 0.07
Year-end earn 601.37 601.37 363.95 65.23 Interest Checking-z 0.04 0.04 0.03
Latest Preceding Year Ago Yr over Yr 6-Month Certif-z 0.46 0.42 0.10
Sep 16 Sep 9 Yr. Ago YOY % Chg Year-end P/E 17.90 18.50 30.0 –40.22 12-Month Certif-z 0.76 0.65 0.15
Report Report Report % Chg
3 Weeks ago 1 Year Treas Bills 3.62 3.48 0.08 4425.00 Year-end earns yield, % 5.59 5.41 3.4 66.29 30 Month Accounts-z 0.69 0.68 0.16
Federal Budget Deficit (bil. $)-a 1,359FY'24 1,372FY'23 1,837FY'22 …. 2 Year Treas Notes 3.50 3.45 0.23 1421.74 5-Year Certificates-z 0.83 0.74 0.28
Best grade bond yields, % 4.23 3.90 1.44 192.94
Current Market Exposure: Budget Surplus/Deficit (bil. $)-b, August –219.60 –211.05 –170.64 28.69 3 Year Treas Notes 3.55 3.47 0.44 706.82 U.S. Savings EE Bonds:
100% Equities, 0% Bonds, 0% Trade Deficit (bil. $, sa)-c, July –70.65 r-80.88 –69.38 1.83 5 Year Treas Notes 3.41 3.31 0.81 320.99 Bond yields/stock ylds, % 0.76 0.72 0.43 75.35
Cash Treasury Gross Public Debt. (bil. $)-d 30,885.8 30,897.9 28,427.2 8.65 10 Year Treas Notes 3.31 3.17 1.35 145.19
Actual year-end divs 233.56 233.05 218.34 6.97 Long-Term (5yrs+) 0.10 0.10 0.10
Treasury Statutory Debt Limit (bil. $)-d 31,381.5 31,381.5 …. …. 20 Year Treas Bds 3.70 3.55 1.87 97.86
Source: Delta Investment Consumer Installment Debt (bil. $)-e, July 4,644.1 r4,620.3 4,332.4 7.19
Management 11th District % Jul Discontinued .... 0.263 .... Actual yr-end divs yld, % 2.17 2.10 2.01 7.77 c-Annualized yields, adjusted for constant maturity, reported by the Federal
FHFA PMMS+ 5.22 5.22 2.95 76.95 Reserve on a weekly average basis. Sources: Tullett Prebon information, Ltd.
www.deltaim.com, (415) Sources: a-Office of Management and Budget, b-Monthly Treasury Statement, c-Monthly Commerce Dept. Factset. z-Bankrate.com.
249-6337 Report, d-Daily Treasury Statement, e-Monthly Federal Reserve Release. Fed annualized yields adjusted for constant maturity.
 56 BARRON’S September 19, 2022

D ATA MARKET LABORATORY B A R R ON S .C OM / D ATA

Barron’s Gold Mining Index Weekly Bond Statistics Dividend Payment Boosts Top 5 Insider Purchases by
12-Month Year Week %
High Low
1228.34 691.27 Gold mining
9/15
721.21
9/8
736.82
Ago
927.83
Chg.
–2.12
New Offerings, (mil $) (v) Last Week Prev. Week Yr Ago Adjusted % Record Ex-Div Payment Company in 2022
Corporate (z) 12,830 r56,699 40,256 Company Name-Ticker Symbol (Exchange) Yield Period To From Increase Date Date Date Number of Number of Avg.
Company Sym Insiders Shares $ Value Price
Municipal (z) 5,067 r7,029 12,959
APA-APA (Nasdaq) 2.5 Q .25 .125 100.0 % 10-21 10-20 11-22 Rocket Companies RKT 19 976,200 8,163,904 $8.36
Best Grade Bonds-y
Gold & Silver Prices (Barron's index of 10 high-grade corporate bonds.)
Apollo Sr Fltg Rate Fd-AFT (NYSE)
Apollo Tactical Incm Fd-AIF (NYSE)
8.0
8.6
M
M
.102
.11
.092
.097
10.9
13.4
9-22
9-22
9-21
9-21
9-30
9-30
B Riley Financial
Simon Property
RILY
SPG
18 430,878 22,678,927
18 5,276 592,529
$52.63
$112.31
4.23 3.90 1.44 York Water YORW 16 1,093 45,694 $41.79
Handy & Harman 9/16 9/9 Year Ago Blackstone LongShrt Cred-BGX (NYSE) 8.2 M .085 .079 7.6 9-23 9-22 9-30 Modiv MDV 15 20,421 361,266 $17.69
Gold, troy ounce 1664.65 1713.40 1755.95 Interm-Grade Bonds-y Blackstone Sr FR Term Fd-BSL (NYSE) 6.9 M .082 .074 10.8 9-23 9-22 9-30
Silver, troy ounce 19.37 18.78 22.50
(Barron's index of 10 medium-grade corporate bonds.) Blackstone Strat Credit-BGB (NYSE) 7.3 M .077 .067 14.9 9-23 9-22 9-30 Top 5 Insider Sales by Company in 2022
Base for pricing gold and silver contents of shipments and for making 5.03 4.92 2.51
refining settlement. Evolution Petroleum-EPM (NYSE AMER ) 4.9 Q .12 .10 20.0 9-21 9-20 9-30 Moderna MRNA 46 1,462,896226,392,003 $154.76

.
Fifth Third Bancorp-FITB (Nasdaq) 3.8 Q .33 .30 10.0 9-30 9-29 10-17 Mongodb MDB 34 537,460192,579,147 $358.31
Confidence Index
Chevron CVX 33 2,049,912318,831,647 $155.53

ly
Coins Price Premium $ Premium % FR STRATSs 2006-2 GS Grp-GJS (NYSE) 4.2 M .07425 .063562 16.8 9-14 9-13 9-15
(High-grade index divided by intermediate-grade index; decline in Doordash DASH 28 847,753 83,260,731 $98.21
Krugerrand 1751.21 75.41 4.50 latter vs. former generally indicates rising confidence, pointing to Innovative Ind Prop-IIPR (NYSE) 8.0 Q 1.80 1.75 2.9 9-30 9-29 10-14 Datadog DDOG 27 639,674 85,964,013 $134.39
Maple Leaf 1793.11 117.31 7.00 higher stocks.)
Mexican Peso 2161.95 141.44 7.00 84.2 79.3 57.4 Keurig Dr Pepper-KDP (Nasdaq) 2.2 Q .20 .1875 6.7 9-30 9-29 10-14
Austria Crown 1645.62 49.28 3.00
Austria Phil 1759.59 83.79 5.00 Ladder Capital Cl A-LADR (NYSE) 8.4 Q .23 .22 4.5 9-30 9-29 10-17

on
U.S. Eagles 1793.11 117.31 7.00 Other Confidence Indicators:
Miller/Howard Hi Incm-HIE (NYSE) 6.0 M .051 .048 6.2 10-24 10-21 10-31
Premium is the amount over the value of the gold content in the coin.
Source Manfra, Tordella & Brookes, Inc. Bullion spot gold price 1675.8 Bloomberg Barclays US Long Treasury* Paccar-PCAR (Nasdaq) 1.7 Q .37 .34 8.8 11-15 11-14 12-06 Week’s Week’s
(This index measures the performance of fixed-rate, nominal US
Treasuries with at least 10 years to maturity. Jan. 1, 1973=100.)
Philip Morris Intl-PM (NYSE)
US Bancorp-USB (NYSE)
5.4
4.2
Q
Q
1.27
.48
1.25
.46
1.6
4.3
9-28
9-30
9-27
9-29
10-12
10-17
Dividend Dividend
Gold Performance 3314.44 3355.93 4502.05
US Bancorp Pfd. B-USBpH (NYSE) 4.6 Q .223611 .221181 1.1 9-30 9-29 10-17 Payment Payment

us ,
Bloomberg Barclays US Credit
I-Rate: Fearing a U.S. interest rate rise, gold World Fuel Services-INT (NYSE) 2.2 Q .14 .12 16.7 9-23 9-22 10-07
This list includes payouts on This list includes payouts on

l
(This index includes all publicly issued, fixed-rate, non-convertible, common stocks. common stocks.
fell 2.8% to a 2-year low of $1,665 an ounce. investment-grade, dollar-denominated, SEC-registered corporate

e
al a
debt.) NYSE NASDAQ
40
Ryan Labs Treasury Index
2829.48 2846.63 3386.37
Dividend Payment Reductions Monday (September 19)
AngloGold Ashanti ADR .294
Monday (September 19)
Grindrod Shipping Hldgs .84

ci on
30 Adjusted % Record Ex-Div Payment Assurant .68 Information Services .04
(Index of total return from active Treasury notes and bonds. Dec. Xperi Holding .05
31, 1996=100.) Company Name-Ticker Symbol (Exchange) Yield Period To From Decrease Date Date Date Gildan Activewear .169
NA NA 322.75 Kontoor Brands .46 Tuesday (September 20)
20 abrdn EM Equity Income-AEF (NYSE AMER ) 9.8 Q .10 .11 -9.1 % 9-23 9-22 9-30 Manulife Financial .259
Bond Buyer 20 Bond Index Terex .13 Amerco .50
BRP-DOOO (Nasdaq) 0.7 Q .121733 .124257 -2.0 % 9-30 9-29 10-14 Hibbett .25
(Index of yields of 20 general obligation municipal bonds.) Royal Bank of Canada-RY (NYSE) 4.1 Q .972275 .995296 -2.3 % 10-26 10-25 11-24 Tuesday (September 20) Live Oak Bancshares .03
10 3.81 3.73 2.14 Penns Woods Bancorp .32
ACCO Brands .075

er s
Compass Minerals .15 TFS Financial .282
Bond Buyer Municipal Bond Index
0 Stock Splits/Dividends Special Dividends Dominion Energy .668 Wednesday (September 21)
To reprint or license content, please contact Barron's reprints department at 800-843-0008 or www.djreprints.com

(Index of 40 actively-traded tax-exempt bonds; component issues Evergy .572

Electronic Arts .19
Handy & Harman Gold Price are changed regularly to keep the index a current picture of the Record Ex-Div Pay Record Ex-Div Pay Lear Corp .77
-10
m er
market. Source: The Bond Buyer
4.70 4.67 3.43
Company Name-Ticker Symbol (Exchange) Amount Date Date Date Company Name-Ticker Symbol (Exchange) Amount Date Date Date NL Industries .07
Equinix
New Fortress Energy
3.10
.10
P10 .03
Old Dominion Freight .30
NONE Laureate Education-LAUR (Nasdaq) 0.83 9-28 9-27 10-12 Perrigo .26
Stock/Bond Yield Gap-s Powell Industries .26
PLDT ADR .845
-20 Resources Connection .14
(Difference between yield on highest-grade corporate bonds and PLDT ADR .824
Barron's Gold Mining Index (721.21) yield on stocks on the DJIA.)
Week’s Ex- Week’s Ex- Distributions & Offerings RLI Corp .26 Thursday (September 22)
m rp
-2.04 -1.81 0.34 Shell ADR .50 Commerce Bancshares .265
-30
Stanley Black & Decker .80 PDC Energy .35
O N D J F M A M J J A S
Yield on DJ Equal Weight US Corp Bond Idx:
Corp Bonds, (y) 5.21 5.06 2.20
Dividend Dividend Secondary Distributions of common stocks
Akero Therapeutics 7,692,308 $26.00 $200,000,008
UnitedHealth Group
VF Corp
1.65
.50
Qualcomm
Red River Bancshares
.75
.07
v-Week ended Thursday. y-Yield to maturity, week ended Thursday. z- Dates Dates Benitec Biopharma 29,809,471 $0.60 $17,884,465 Wednesday (September 21) Friday (September 23)
For personal non-commercial use only. Do not edit or alter. Reproductions not permitted.

Source: Refinitiv.*Barclays T-Bond Index discontinued by firm. CNB Financial (PA) 3,702,127 $23.50 $86,999,985
Aegon ADR .11 AMERISAFE .31
This list includes payouts on This list includes payouts on Codiak BioSciences 14,027,665 $1.50 $21,041,498
common stocks. common stocks. Avery Dennison .75 Exponent .24
Consensus Cloud Solutions 500,000 $46.00 $23,000,000
co o

Ingersoll Rand .02 Healthcare Services Grp .214

NYSE NASDAQ Core & Main 11,000,000 $23.75 $261,250,000
Federal Reserve Data Bank Tuesday (September 20)
Tuesday (September 20) Crestwood Equity Ptnrs LP 11,400,000 $26.90 $306,705,600
Kohl's Corp
Movado Group
.50
.35
JOANN
Kraft Heinz
.11
.40
Seagate Technology .70 Driven Brands Holdings 7,000,000 $32.45 $227,150,000 PJT Partners .25 Open Text .243
One week ended Sep 14:
F

Omnicom Group .70 Wednesday (September 21) Edgewise Therapeutics 11,627,907 $10.32 $120,000,000 Silvercrest Asset Mgmt A .18
Thursday (September 22) Teradyne .11
Member Bank Latest Prev. Week Year Ago Orion Engineered Carbons .021 Bank7 .12 First Watch Restaurant Group 4,500,000 $15.50 $69,750,000
Broadcom 4.10 IDEAYA Biosciences 8,761,905 $10.50 $92,000,003 Autoliv .64 Texas Roadhouse .46
Reserve Chgs. (Mil. $) Week Change Change Restaurant Brands Intl .54
JOYY ADR .507 Know Labs 3,600,000 $2.00 $7,200,000 BHP Group ADR 3.50 TriCo Bancshares .30
Vistra .184 Kulicke & Soffa Inds .17 Cigna 1.12 Unity Bancorp .11
U.S. Gov't securities: Smith & Wesson Brands .10 Larimar Therapeutics 22,225,000 $3.15 $70,008,750
Wednesday (September 21) Dun & Bradstreet .05
Bought outright 8,400,771 -2,568 +553,012 Thursday (September 22) LINKBANCORP 4,575,000 $7.50 $34,312,500 Saturday (September 24)
Harley-Davidson .157
Designer Brands .05 First Guaranty Bcshs .16 POINT Biopharma Global 13,900,000 $9.00 $125,100,000 NONE
Federal agency secur: Juniper Networks .21
Hackett Group .11 Relay Therapeutics 11,320,755 $26.50 $300,000,008
Bought outright 2,347 .... .... Marriott Vacations .62 Kimball Intl Cl B .09 Lloyds Banking Group ADR .039 Sunday (September 25)
Revance Therapeutics 9,200,000 $25.00 $230,000,000
PulteGroup .15 Lloyds Banking Group ADR .037
Friday (September 23) Rhythm Pharmaceuticals 4,800,000 $26.00 $124,800,000 NONE
Reserve bank credit: VICI Properties .39 Newmont .55
NONE
Primary Credit 5,201 +908 +4,927 Source: Dealogic LLC, New York City; (212) 577-4400. Pearson ADR .806
West Fraser Timber .30 Saturday (September 24)
Secondary Credit .... .... .... ResMed .44
Seasonal Credit 46 +4 +21 Thursday (September 22)
NONE Rio Tinto ADR 2.67 Week’s
Float -153 +9 -31 American Vanguard .025
Sunday (September 25)
U.S. Treasury Bills Triton International .65

Dividend
n-

NONE Valhi .08

Other F.R. Assets 35,046 +2,993 +1,401 Intl Flavors & Fragrances .81 Vontier .025
Monday (September 26) Wkly Ask
Total Fed Credit # 8,788,731 +488 +436,695
Gold stock
SDR Certif. Accounts
11,041
5,200
....
....
....
....
Korn Ferry
Medtronic
.15
.68
Logitech International .978 Maturity
September 20
Bid
1.87
Asked
1.86
Chg.
-0.11
Yld.
1.89
Friday (September 23)
Big Lots .30
Payment
Treas. Curr. Outst. 51,300 +14 +641
Pembina Pipeline
Sempra
.168
1.145
Week’s Ex- September 22 1.79 1.78 -0.21 1.81 BlackRock
BP ADR
4.88
.36
This list includes payouts on
common stocks.
no

Total 8,873,592 +441 +433,394 September 27 2.11 2.10 0.01 2.13

Currency in circ
Treas. Cash Hldgs
2,281,911
98
-1,208
....
+84,605
+51
TIM ADR
Valmont Industries
.154
.55
Dividend September 29 2.04 2.03 -0.06 2.06
CNO Financial Group
Elevance Health
.14
1.28
NYSE American
Monday (September 19)
October 04 2.16 2.15 0.01 2.18
Treas. Fed Deposits
Foreign Fed Deposits
593,808
7,435
+12,513
-1,147
+363,480
+814
World Fuel Services .14
Dates October 06 2.13 2.12 0.02 2.15
Genpact
Guess
.125
.225
NONE
Friday (September 23) October 11 2.27 2.26 -0.21 2.29 Hilton .15 Tuesday (September 20)
Other Fed Deposits 205,452 +55 -36,826 This list includes payouts on
common stocks. October 13 2.24 2.23 .... 2.27 Hudbay Minerals .008 Chicago Rivet & Machine .22
Other FR liab/cap 46,531 -2,356 -4,764 Arcos Dorados Holdings A .04
October 18 2.56 2.55 0.07 2.59 Insperity .52 Wednesday (September 21)
Total factors 5,638,664 +51,011 +1,469,651 New Jersey Resources .39 NYSE American Lockheed Martin 2.80
October 20 2.51 2.50 0.03 2.54 NONE
Reserves F.R. banks 3,234,928 -50,570 -1,036,256 Portland Gen Electric .452 Tuesday (September 20) Mativ Holdings .40
October 27 2.52 2.51 0.02 2.55
Fgn hold U.S. debt 3,376,510 -11,192 -94,195 B2Gold .04 Sealed Air .20 Thursday (September 22)
Saturday (September 24) November 01 2.64 2.63 .... 2.67
Evolution Petroleum .12 Steris .47 NONE
NONE November 03 2.61 2.60 0.04 2.64
Wednesday (September 21) Vaalco Energy .032 Friday (September 23)
Reserve Aggr (Mil. $) Latest Prev. Month % Year November 08 2.69 2.68 -0.03 2.73 Waste Management .65
Month Ended July: Month Month Chg. Ago Sunday (September 25) NONE November 10 2.63 2.62 0.04 2.66 Adams Resources .24
Saturday (September 24)
Total Reserves: 3,258,400 3,228,400 0.93 3,943,900 NONE Thursday (September 22) November 15 2.78 2.77 .... 2.82 Saturday (September 24)
Nonborrowed Res 3,238,800 3,207,000 0.99 3,856,300 NONE November 17 2.74 2.73 0.09 2.78 NONE NONE
Monday (September 26)
Borrowed Reserves 19,541 21,423 -8.78 87,621 Friday (Sept. 23)-Monday (Sept. 26) November 25 2.84 2.83 0.08 2.88 Sunday (September 25) Sunday (September 25)
Monetary Base 5,536,900 5,506,500 0.55 6,130,200 General Electric .08 NONE December 01 2.95 2.94 0.06 2.99 NONE NONE
 September 19, 2022 BARRON’S 57

D ATA MARKET LABORATORY B A R R O N S .C O M / D ATA

QuestResource ChargeEnt Gyrodyne NatureSunshine Starbox CorebridgeFin CAE MarineMax

Week’s RechargeAcqnA
RelmadaTherap
RevolutionA
Charles&Colvard
CharterComms
Children'sPlace
HainanManaslu
HainCelestial
HarborCustom
NauticusRobot
NautilusBiotech
Neogen
StateraBio
StdBioTools
StitchFix
CorpAmAirports
Corteva
CrucibleAcqnA
CapitalOne
CarMax
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Matson
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MaxarTech
Stratasys
New Highs and
RhythmPharm ChipMOSTechs HarborCustomWt Nephros DHT Cato MedicalProp
ScionTechI A CitiTrends HarpoonTherap Netcapital Strattec elfBeauty Celanese MillerIndustries
SeniorConnectI A Clarus HarvardBioSci NeuBaseTherap StratusProp EQT CenterraGold MineralsTechs
ShuaaPtrsI A CleanSpark Hasbro Newegg StrongholdDig ESM Acqn A Centerspace MisterCarWash
Lows SigmaLithium
SkydeckAcqnA
SlamA
CleverLeaves
CocrystalPharma
CodiakBioSci
HealthCatalyst
HealthcrTriangle
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NewellBrands
NexalinTechnology
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StryveFoods
SunCountryAir
SunshineBio
EquityDistrA
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CharlesRiverLabs
ChimeraInvt
ChunghwaTel
MistrasGroup
MohawkInds
Movado
NYSE SouthernStBcsh Cognex HelenofTroy NI SuperiorGroup EvolentHealth Church&Dwight MuellerWater
TargetGlbl I A CognizantTech Hempacco NicholasFin SuperLeagueGam FreyrBattery Ciena MultiPlan
Cohbar HennessyAdvsrs Nogin SurfaceOncol Cinemark NCR

99 480
TC Bancshares FirstLightAcqnA
Tech&TelecomA ColonyBankcorp HF Foods NortonLifeLock SVB Fin FreedomI A Clarivate NexPointResidentl
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New Highs New Lows Torm Comcast A HimaxTechs NutexHealth Synaptics GSquaredIIA CompassDiversif NomuraHoldings
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UltaBeauty ComputerTask Humanigen Nyxoah GoldenFalconA CorebridgeFin Offerpad
Vaxcyte Concentrix I-Mab Oblong TandyLeather GraphicPkg CorEnergyInfr OneConnectFinTech

165 736 VectoIQII A

VentyxBiosciences
WearableDevices
Conduent
Conn's
ConnexaSports
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IceCureMedical
OfficePropIncm
Olaplex
Omnicell
TangoTherap
TattooedChef
Telesat
H.I.G.AcqnA
Haemonetic
Hubbell
Costamare
Crawford A
Crawford B
OrchidIsland
Organon
OrionOffice

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New Highs New Lows TenayaTherap
XcelEnergy ContextLogic iClickInteract OncoSecMedical ICICI Bank Deluxe Oshkosh
ContraFect Icosavax OneSpan TerritBanc IberePharmA DigitalRealty Ouster
NYSE American NEW LOWS CorbusPharm Ideanomics OneStopSystems ThirdHarmonic IndlHumanCap DigitalBridge Owens&Minor
1-800-FLOWERS Corphousing iMediaBrands Onfolio TonixPharm InFinTAcqnA Doma Owlet

5 42
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NYSE American DigiIntl AdvEmissions Daseke Intel ParamountB UnionBankshares PG&E Ecovyst ProAssurance
Disruptive I A AEye DatChat Intercure PardesBiosci UnitedGuardian ElevateCredit ProtoLabs
NEW HIGHS PMV Consumer

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DrivenBrands Affimed DAVIDsTEA InterDigital PassageBio UnitedInsurance EmployersHldgs QuestDiag
CheniereEnergy EastRscsAcqnA PampaEnergia
AgileThought Deswell Interface PatrickIndustries UnitedSecBcshrs PeriphasCapA Endava RE/MAX
EvolutionPetrol ECB Bancorp Uniti
FOXOTechnologies Agrify DigitalAlly Inventiva PeoplesBncpNC PrimaveraCapA Envestnet RPTRealty
EDAP TMS AgroFresh DIRTT Envl IO Biotech PepGen UnivElectro Envista Ranpak
GEE Group EnergyRecovery Progressive
AirNetTech DistributionSoln iPower Perficient UnivestFin ReinsGrp Express Rayonier
NEW LOWS ESSA Bancorp Akanda Diversey Iridex Perma-Fix UplandSoftware FathomDigital RegionalMgmt
FirstSolar RepublicSvcs
AcmeUnited AkariTherap DiversifiedHlthcr iSpecimen PetrosPharm urban-gro RocketInternetA FedEx RockleyPhotonics
AmerGold&Silver Flex AllegiantTravel DuluthHoldings IterumTherap PhibroAnimal US GlobalInv FidNatlInfo RogersComm B
SDCLEDGEAcqn

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AustinGold ForbionEuroA Allot EaglePharm IvedaSolutions PhoenixMotor Vaccitech FivePoint SK Telecom
FtacHeraA ST Ener I A
BetterChoice Alphabet A Eastern JasperTherap PierisPharm VentouxCCM ScorpioTankers FleetCorTech Salesforce
To reprint or license content, please contact Barron's reprints department at 800-843-0008 or www.djreprints.com

BiomX G1Therapeutics Alphabet C EBET Jeffs'Brands PintecTech VentouxCCMAcqn Sempra Flowserve SaulCenters
GardinerHlthcr AlphaTeknova VeraBradley
BlueRidgeBkshs
CaledoniaMining Geron AlsetEHome
m er EchoStar
Ecoark
Jewett-Cameron
JianzhiEduc
Pixelworks
Pluri VerintSystems
SilganHoldings
Supernova III A
Fortis
Franco-Nevada
ScottsMiracleGro
SealedAir
CamberEnergy GlblBlockchain AltairEngg EducDev Jiuzi PLxPharma VersusSystems TailwindIntlA FrankBSPRealty Shapeways
cbdMD GlbPtrII A AMC Networks EHang JohnsonOutdoors Pool ViantTech TechnipFMC FutureFuel Similarweb
ChinaPharma GoldenPath AmerCarMart eHealth JX Luxventure PotlatchDelt Viatris TeekayTankers GSK SimpsonMfg
CompX Intl GreencityAcqn AmericanPubEdu Emcore Kalera Premier VillageFarms TigaAcqnA Gannett Skillsoft
Comstock GreeneCnty AmericanRebel EngineGaming Kaspien PriceSmart VillageSuper A TransportadGas Garmin Skillz
m rp
DSS GreenVisorI A Angi EnsysceBio KaziaTherap PrimisFinl Vimeo TsakosEnergy GlobalIndl SmithAO
1847Holdings HainanManaslu AnPacBioMed EnteraBio KellyServices A ProfoundMed VintageWineEstates twoA GlobalMedREIT Sony
FOXOTechnologies HealthAssuranceA Anterix EnthusiastGaming KellyServices B Qorvo VIQSolutions UnumGroup GoldFields SpectrumBrands
GeniusGroup HHG Capital AppHarvest EpicQuestEduc KimballIntl B QualigenTherap ViraxBiolabs VistaEnergy Gorman-Rupp SpiritAeroSys
Goldmining HilleVax AppliedMolecular ePlus KingsoftCloud QualtricsIntl VivaniMedical WasteConnections GrafTechIntl St.Joe
IntlTowerHill IG Acqn A Applovin Ericsson Kingstone Quhuo VivoPowerIntl WescoIntl GraniteConstr StandardMotor
For personal non-commercial use only. Do not edit or alter. Reproductions not permitted.

MetallaRoyalty IgnyteAcqn AptoseBiosci ErytechPharma KratosDefense QuinceTherap WalgreensBoots YPF GranitePointMtg StanleyBlackDck
MilestoneSci IndlTechII A AquaBountyTech Escalade LakelandInd RamacoRscs WearableDevices GpoAvalAcc StarryGroup
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NavideaBiopharm InflectionPointA ArcadiaBiosci EsportsEnt LakeShoreBancorp Rapid7 Weibo NEW LOWS GrupoTelevisa Steelcase
NewPacificMetals Infr&EnerAltern ArcoPlatform EssaPharma Lands'End Reading B WestBancorp ACCO Brands Guess Stepan
NovaBayPharm InsuAcqnIII A Arrival EtonPharm LandseaHomes ReconTech WesternDigital ADC Therap HNI SturmRuger
RaMedicalSys IonisPharma AspenGroup EuronetWorldwide Largo RedViolet WeTrade AEA-BridgesA HUYA Ternium
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RetractableTechs ItiquiraAcqnA Assure Ever-Glory Latham RekorSystems WheelerREIT AG Mortgage HarmonyGold TaroPharm
TakungArt JakksPacific AstecIndustries Evotec Leafly Renalytix WholeEarthBrds a.k.a.Brands HawaiianElec Telefonica
TrinityPlace KairosAcqnA Astronics ExelaTech LesakaTech RenttheRunway Willdan AT&T Hayward Teradata
UniqueFabricating KismetTwoA Athersys ExpeditorsIntl Leslie's Repay WindtreeTherap AcadiaRealty HealthcareRealty 3M
VistaGold LakeshoreAcqnII ATIF EzgoTech LibertyBroadbandA RepublicBcpKYA WiSA Tech AccelEnt HeliosTech ToyotaMotor
WidePoint Lantheus AuburnNatlBncp FangddNetwork LibertyBroadbandC RepublicFirstBncp WM Tech Aenza HighwoodsProp TransUnion
Winc LazardGrowthI Avinger FarmersNatlBanc LibertyGlobal A ReToEcoSol XOMA Allegion Holley Trinseo
LCattertonA AytuBioPharma Farmmi LibertyGlobal B ReunionNeuro XTL Biopharm AllyFinancial HudsonPacProp TriumphGroup
Nasdaq LDH Growth I A Azenta YoshiharuGlbl AmbrxBio
Fathom LibertyGlobal C RevelationBio Huntsman Tronox
NEW HIGHS LefterisAcqnA BeasleyBroadcast FingerMotion LifetimeBrands RiceBranTech Zenvia AmericaMovil INNOVATE Tuya
LPL Financial Benefitfocus FinInstitutions Lilium RigettiComp ZimVie AmericanAssets IndepRealty TysonFoods
7GC A ZoomVideo
AcademySports LSI Inds BenitecBiopharm FinwardBancorp LINKBANCORP RMR Group AmnealPharm Infosys US PhysTherapy
MagyarBancorp BerkeleyLights FirstComSC Lipocine Root Zumiez AmpriusTech IntlFlavors UnderArmour C
AcadiaHealthcare
Aditxt MarlinTechA BetterwaredeMexico FirstMidBcshs LisataTherap RubiconTech NYSE AngloGoldAsh IntlPaper Unifi
AEP MaxeonSolar BeyondMeat FirstNatlVA Littelfuse RubiusTherap Arconic IronNet Unisys
MetalSkyStar Bio-Techne FirstWaveBio Lovesac SangomaTechs NEW HIGHS ArloTech iStar UnitedMicro
n-

AequiAcqnA
AGBAAcquisition MilestonePharm bioAffinityTech FirstWesternFin LoyaltyVentures SapiensInt AEA-BridgesA ArrowElec JBG SMITH Prop UniversalHealth
AgileGrowthA MontaukRenew Biolase Flexsteel LunaInnov ScopusBio AP Acqn A ArtisanPtrsAsset JELD-WEN UnvlTechInst
AhrenAcqnA MoringaAcqnA BiondVaxPharm FormFactor LytusTech SCWorx Albemarle Atento JohnBeanTech UrstadtBiddle
AkeroTherap MountRainier Biophytis ForresterRes MamaMancini's Seagate AltusPower Atkore KoreGroup UsanaHealth
AnixaBiosci MurphyCanyonA Blackbaud ForwardPharma Manitex SecureWorks AmpriusTech Audacy Kadant UserTesting
AnthemisDigA Napco Security Blackboxstocks ForzaX1 Materialise SecurityNatFin ArctosNorthA AvanosMedical Kaleyra VF
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ArgusCapitalA Nathan's BlueStarFoods FosterLB MatthewsIntl Sema4 ArdmoreShipping Avantor Kennametal Verizon
AstriaTherap NatrlOrderAcqn BorqsTechs FranklinWireless MawsonInfr SenmiaoTech AresAcqnA Avient Knowles VinceHolding
AuroraTechA NexalinTechnology Brainsway FreightTech MesaLab ShuttlePharm AtlasCrestII A B&G Foods KoreaElcPwr Vontier
Axonics NobleRockA Bruker FrequencyElec MetaPlatforms Sientra AvantiAcqnA BCE KornFerry Waters
CarneyTechII A NocturneAcqnA BTCS FreshTracks MetenHolding SierraBancorp BJ'sWholesale BitMining KronosWorldwide Welltower
CatalystPharma OceanTechI A CabalettaBio FulgentGenetics Methanex SightSciences BanyanAcqnA Babylon KukeMusic WestPharmSvcs
CF Acqn IV A OldPointFinl Cantaloupe Gaia MillerKnoll SimplyGoodFoods BluescapeOppsAcqn Bio-RadLab A LG Display WesternUnion
CF Acqn VIII A PatriaLatAm CareDx GalmedPharm MillicomIntl SiTime Bowlero BluegreenVac LL Flooring WestRock
ChangeHlthcr PlainsGP CarGurus GigaMedia MindMed SiyataMobile CCNeubergerIII A BoqiiHolding LXP Industrial Westwood
ChesapeakeEner PliantTherap CarParts.com GIIIApparel MinervaSurgical SkyWest Cadre Boxed Lannett WeWork
CompassDigitalAcqn PointBiopharma CasaSystems GladstoneLand MKS Instrum SmartShareGlbl CatchaInvtA Braskem Lightng eMotors Weyerhaeuser
ConsldWater PonoCapitalA Celularity GoHealth Mobilicom Smith&Wesson CenterPointEner BrightHealth LionElectric WheelsUp
ConstellationEner PopulationHlthA CentralGarden GoldenMatrix Momentus SocketMobile CentralPuerto BrightHorizons LithiaMotors Whirlpool
CONX PoweredBrandsA CentralGardenA GooseheadIns MonoparTherap Soluna ChartIndustries BrightSphere LocalBounti WideOpenWest
CorazonV838 A ProgressAcqnA CerberusCyber GreenidgeGen MSD Acqn Wt SomaLogic Cigna BrightView LufaxHolding Wiley B
CovaAcqna PrometheusBio Cerence Greenlane MullenAuto SonnetBio CleanHarbors Brink's LumenTech XPeng
CyberOptics PropTechInvII A Certara GreenLightBio Mynaric SoteraHealth Coca-Cola Femsa CNA Fin LyondellBasell Yeti
DataKnightsA ProspectorCapA Cerus GreenwaveTech NabrivaTherap SpringBig ConEd CS Disco Manitowoc ZimIntShipping
DiamondHeadA Qualys CEVA GSE Systems NatlWesternLife SS&C Tech ConveyHealth CableOne Manpower Zhihu
 58 BARRON’S September 19, 2022

O T H E R VO I C E S
Today’s voracious dollar demand suggests
invincibility. But we should imagine the dollar’s
troubled end.

The Dollar Is

.
Mighty. How

ly
on
It Could Fall.

us ,
l
e
al a
By Edward Price always being pulled in two directions.

C
ci on
America is, by definition, smaller
harlie Munger than the world. Therefore, the number
thinks the dollar of dollars needed by the U.S. economy
will fail. (the first direction) is smaller than the
Investors number needed by the global economy

er s
should assume (the second). And yet, both use the
To reprint or license content, please contact Barron's reprints department at 800-843-0008 or www.djreprints.com

“the currency is same dollar. So, Triffin posed a di-

going to zero,” the
m er
lemma. If the U.S. currency serves the
billionaire business partner of Warren global economy, with massive dollar
Buffett said earlier this year. Right liquidity, it runs the long-term risk of
now, that seems crazy. Zero is, as hyperinflation at home. Too many
m rp
investors know, a really bad number. dollars. At that point, the rest of the
And outlandish, too. The dollar is world would abandon the greenback. “What could fear, and guile. is prone to cycles we do not know.
strong against other currencies as the But if America serves only the domes- First up is war. Should the U.S. lose Third, guile. Perhaps the time is
kick-start
For personal non-commercial use only. Do not edit or alter. Reproductions not permitted.

U.S. central bank races ahead with a tic economy, and issues far fewer dol- a conflict, say, over Taiwan, markets ripe for a dollar alternative. That’s not
higher policy rate. But Munger is lars, it runs the risk of hyperdeflation the dollar’s will implode. Forget Ukraine, a war to say it would be easy to create one.
co o

thinking long. Very long. The dollar, abroad. Too few dollars. At this point, with China would be the mother of all Actually, it would be hard. But some
he thinks, won’t crash today, and it the rest of the world would—you
decline? supply-chain disruptions. Should the sort of state-subsidized financial prod-
F

won’t crash tomorrow. But, sometime guessed it—abandon the greenback. Three U.S. lose Taiwan bravely, the dollar uct, somewhere, could promise X–
in the next 100 years, it will. Either way, dollar supremacy must could well survive, or indeed gain. It percent returns above dollar interest
A century is a good chunk of time. eventually end.
things. could boost the dollar smile—the phe- rates. And say Y percent more if
A hundred years ago, the U.S. was not We’re not seeing much evidence of War, fear, nomenon that sees dollar demand funds are transferred out of dollar-
a superpower. Over centuries, wild the above. Whatever its supply, every- and guile.” spike after major news, good or bad. denominated holdings. That might not
things happen. As such, we should one wants the dollar, which explains But should the U.S. cut and run—or be sustainable at scale; it would re-
Edward Price
accept Munger’s gloomy assertion as a the long-dollar view. But we are seeing should its fleet be annihilated—the quire subsidy. But it could be proof
possibility. Then, we should consider some. Annual inflation in the U.S. is dollar would surely teeter. Maybe not of a concept, the idea that something,
its probability. In other words, what troublesome, at 8.3% in August, and the same day. Maybe not the same somewhere, is safer than the buck.
n-

would bring the mighty greenback to foreign central banks are diversifying week. But foreign-exchange traders Is America a Ponzi scheme or a
its knees? And how close are we to their reserves away from USD. The and capital markets would certainly trust fund? A short- or long-term
Munger’s doomsday scenario? crypto crowd won’t stop harping on begin to sweat. thing? We don’t know. Nor do we know
Many economists would say very about dollar alternatives. And the U.S. Second, fear. The nature of bank the ultimate fate of its currency. To-
no

far. The dollar is used because the dol- has effectively kicked Russia out of the runs and market crashes is that they day’s voracious dollar demand suggests
lar is used, or so goes the consensus dollar system. None of these things, by happen whenever they won’t. Mean- invincibility. But we should imagine the
mantra. But a good way to think about themselves, threaten dollar dominance. ing, the exuberance that creates a dollar’s troubled end. That way, we
the dollar is to split the U.S. currency But a nascent thesis of dollar oversup- frothy up-cycle has an irritating ten- might figure out how to extend its life.
in two. This was the approach of 20th ply is obviously doing the rounds. A dency to surprise. Every seven years After all, with a little more imagination,

Illustration by Jon Krause

century economist Robert Triffin. In heterodoxy is emerging, one that points or so, we seem to get a business cycle. Scipio would have wept before, and not
effect, he thought there were two dol- to growing U.S. debt, and the inevitable Every 70 or so, we seem to get a crash. at, the destruction of Carthage. B
lars trapped in one. The first dollar is decline of financial superpowers in We know everything in theory and
for domestic use, and the second, in- history as hints of a postdollar world. nothing practical. As an experiment, Edward Price, a former British economic
ternational. That, in turn, means the So, what could kick-start the then, the fiat dollar is only about 50 official, is a nonresident senior fellow at New
number of dollars in existence is dollar’s decline? Three things. War, years old. Whether fiat currency itself York University’s Center for Global Affairs.
 September 19, 2022 BARRON’S 59

MAILBAG
Send letters to [email protected]. To be considered for Numbers by Barron’s, which breaks
publication, correspondence must bear the writer’s name, down the markets, is available
address, and phone number. Letters are subject to editing. wherever you listen to podcasts.

to raise the cap on contributions. This

Contrarian Indicators is done periodically. Even so, it has Buying Europe
always been the lower and middle
To the Editor: classes that fund Social Security. The To the Editor:

.
A Kardashian private-equity firm (“A wealthy upper classes have never paid Cresset Capital’s Jack Ablin believes

ly
Housing Bubble and Kim Kardashian: their fair share because their contribu- that there will be a buying opportunity
More Troubling News for Markets,” tions stop at [an annual income level in the First Trust S&P International
Up & Down Wall Street, Sept. 9). Ac- of] $147,000. Why aren’t we taxing Dividend Aristocrats exchange-traded

on
tors promoting crypto when Bitcoin those that make $148,000 to $10 mil- fund when Federal Reserve tightening
was at $62,000. C-list celebrities with lion-plus on their full income, or at slows (“How Europe’s Energy Crisis
special-purpose acquisition compa- least some percentage above the cur- Could Play Out,” Sept. 9). As Ablin
nies. Even NBA superstar Giannis rent cap? That would keep Social Secu- says, the ETF holds high-quality com-

us ,
Antetokounmpo is starting an envi- rity in the black indefinitely. panies with strong balance sheets that

l
ronmental, social, and corporate gov- Lyle Stotelmyre can withstand an “ugly quarter.” But

e
al a
ernance fund. Sounds great. Hey, Oceanside, Calif. however strong these companies might
what could go wrong? be, the problem lies with the ETF’s

ci on
Steve Klouda To the Editor: long-term performance: one-year, mi-
Sugar Grove, Ill. I found Martha Shedden, president nus 8.38%; three-year, 1.74%; five-year,
and co-founder of the National Asso- 2.8%; and from inception, 2.14%. I
ciation of Registered Social Security wonder why Ablin thinks the future
Social Insecurity Analysts, a bit glib as she concluded might be any brighter. Some individ-

er s
that beneficiaries should simply ig- ual-stock research might prove better
To reprint or license content, please contact Barron's reprints department at 800-843-0008 or www.djreprints.com

To the Editor: nore potential benefit cuts resulting in selecting winners.

m er Americans have been wringing their from program shortfalls. If benefits Harvey Rosen

Where hands for decades about the insuffi-

ciency of funds in the pool of capital
that will freeze out the next generation
are cut 23% across the board in 2034,
it will have a much smaller impact on
those who start benefits early than on
Brooklyn N.Y.
m rp
of payees. The problem isn’t economic; those who start them late. Holy Grail
Bitcoin Is it is entirely political (“Social Security
Will Hit a Breaking Point. What It
Assume someone turns 62 in
2026. Under the provided program To the Editor:
For personal non-commercial use only. Do not edit or alter. Reproductions not permitted.

Means for Younger Workers,” Sept. 9). depletion schedule, he can enjoy eight Clearly, Illumina’s main line of busi-

Legal Tender
We can solve “social insecurity” in years of benefits before the cut starts ness producing sequencing tools is
co o

a heartbeat. Simply invest the money in 2034. But if he starts benefits at fantastic (“Illumina Stock Has Tanked
in an index of U.S. equities that, over age 70, his benefits are cut from After Its Deal for Grail. The Battle
F

time, will pay beneficiaries about 9% a inception. With Regulators Continues,” Follow-
year versus the current 1% that the Also, compared with a program Up, Sept. 9). My view is that CEO
To the Editor: fund earns. That will end the subject without such cuts, the break-even year Francis deSouza wouldn’t be spending
This was utterly predictable. Imagine what would hap- of sufficient funds, as participants will (a critical calculation for any sane indi- the enormous amounts of human cap-
pen if the U.S. dollar fluctuated at only a small percent- earn great sums over time. The imped- vidual evaluating the merits of delaying ital and actual dollars for Grail unless
age of the degree to which Bitcoin does. Total chaos (“El iments are politicians in Washington, retirement) under the above situation the payoff would be huge, which I
Salvador’s Lonely Experiment,” Cover Story, Sept. 9). D.C., who want control over the fund, comes three years later (at age 81) for happen to agree with. The numbers
Combined with the senseless environmental harm so they can blow it on favored proj- someone waiting until full retirement are massive. I’m sticking with Illu-
done by these absurd cryptocurrencies, this should be ects, rather than give Americans the age and four years later (at age 86) for mina and deSouza, with or without
n-

a lesson to anyone who thinks this “currency” has any peace of mind that we all seek. someone waiting until age 70. Grail, but I hope that it’s with.
place in serious financial systems. Hopefully, the Securi- Citizens should band together and Clint Myers Britt Hughes
ties Exchange Commission and/or Congress will finally demand this outcome or vote against Georgetown, S.C. On Barrons.com
apply common-sense regulations on crypto. every member of Congress who thinks
no

John Fischer otherwise. And for those who refuse

On Barrons.com to comply, we should remove them
from any retirement program in
To the Editor:
Getting into crypto is a risk/reward decision threshold for
which they now participate. Care to
bet we get the changes?
“I’m sticking with Illumina and
me. When the risk/reward ratio of using crypto versus
the dollar becomes better in my favor, it is time. Now is
not the time. Let the crypto crowd sweat out the kinks. I’ll
Rich Klitzberg
Boca Raton, Fla. deSouza, with or without Grail,
sit on the sidelines and watch the game unfold.
Roli Antonio
To the Editor:
The easiest and most sensible way to but I hope that it’s with.”
On Barrons.com guarantee Social Security continuity is Britt Hughes, on Barrons.com
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