Market Newsdesk

SEATTLE, Nov. 12, 2020 /PRNewswire/ — (NASDAQ: RDFN) — Thirty-two percent of Americans have lost their job or lost wages—or someone in their household has—due to the coronavirus pandemic, according to a new report from Redfin (redfin.com), the technology-powered real estate brokerage. The report features results from a survey of more than 3,000 U.S. residents that was fielded in October.  

Broken down by homeownership status, 39% of renters reported a lost job or wages, versus 30% of homeowners.

“The pandemic is exacerbating inequality and widening the wealth gap between those who own homes and those who don’t,” said Redfin chief economist Daryl Fairweather. “Renters who have lost jobs or wages are likely dipping into savings for daily living expenses, pushing homeownership further out of reach. More homeowners have been able to keep their jobs, and many who can work remotely are cashing in their home equity to purchase a bigger, better home in a more desirable area.”

Homeowners are more likely than renters to be financially better off now

Fifty percent of respondents to the same survey say they’re financially better off than they were four years ago. 

Broken down by homeownership status, 53% of homeowners are financially better off than they were four years ago, compared with 44% of renters. On the flip side, 37% of renters are financially worse off versus just 22% of homeowners.

Broken down by political affiliation, 63% of Trump voters are financially better off than they were four years ago, versus 43% of Biden voters.

Renters are significantly more likely to be Biden voters, with 57% of renters reporting themselves as Biden voters 32% reporting themselves as Trump voters, according to a breakdown of survey respondents who are planning to vote this year. Homeowners are equally likely to support each candidate: 47% of homeowners are Trump voters and 46% are Biden voters.

“Even though the country is in the midst of a major economic downturn, the majority of homeowners have made financial gains over the last four years, partly due a big increase in home values,” Fairweather said. “But renters who have faced rising housing costs without a corresponding rise in wealth from home equity are more likely to be financially worse off than they were four years ago. The desire for change may be one reason why renters are significantly more likely to have voted for Joe Biden for president.”

To view the full report, including charts and methodology, please visit: https://www.redfin.com/news/homeowners-versus-renters-finances-pandemic/

About Redfin
Redfin (www.redfin.com) is a technology-powered residential real estate company, redefining real estate in the consumer’s favor in a commission-driven industry. We do this by integrating every step of the home buying and selling process and pairing our own agents with our own technology, creating a service that is faster, better and costs less. We offer brokerage, iBuying, mortgage, and title services, and we also run the country’s #1 real estate brokerage search site, offering a host of online tools to consumers, including the Redfin Estimate. We represent people buying and selling homes in over 90 markets in the United States and Canada. Since our launch in 2006, we have saved our customers over $800 million and we’ve helped them buy or sell more than 235,000 homes worth more than $115 billion.

For more information or to contact a local Redfin real estate agent, visit www.redfin.com. To learn about housing market trends and download data, visit the Redfin Data Center. To be added to Redfin’s press release distribution list, email [email protected]. To view Redfin’s press center, click here.

View original content to download multimedia:http://www.prnewswire.com/news-releases/redfin-survey-39-of-renters-have-lost-their-job-or-wages-due-to-the-pandemic-versus-30-of-homeowners-301172136.html

SOURCE Redfin

LOS ANGELES, Nov. 12, 2020 /PRNewswire/ — Glancy Prongay & Murray LLP (“GPM”) reminds investors of the upcoming November 30, 2020 deadline to file a lead plaintiff motion in the class action filed on behalf of investors who purchased or otherwise acquired Tactile Systems Technology, Inc. (“Tactile” or the “Company”) (NASDAQ: TCMD) securities between May 7, 2018 and June 8, 2020, inclusive (the “Class Period”).

If you suffered a loss on your Tactile investments or would like to inquire about potentially pursuing claims to recover your loss under the federal securities laws, you can submit your contact information at https://www.glancylaw.com/cases/tactile-systems-technology-inc/. You can also contact Charles H. Linehan, of GPM at 310-201-9150, Toll-Free at 888-773-9224, or via email at [email protected] to learn more about your rights.

On March 20, 2019, an amended Qui Tam complaint against Tactile was unsealed, alleging that the Company illegally paid hospital staff to induce physicians to prescribe its medical devices and had submitted fraudulent claims to Medicare and Veteran’s Administration (“VA”).

On this news, Tactile’s share price fell $4.53 per share, or over 7%, over two consecutive trading sessions to close at $55.57 per share on March 22, 2019.

Then, on February 21, 2020, the court denied Tactile’s motion to dismiss the Qui Tam complaint in its entirety. Analysts warned that “[o]nly two options remain—either this qui tam gets settled out of court, or it goes to discovery.”

On this news, Tactile’s share price fell $6.65 per share, or over 10%, to close at $56.09 per share on February 24, 2020.

On June 8, 2020, OSS Research issued a report on alleging that “the true source of Tactile’s growth” is “a kick-back scheme that has resulted in rampant overprescribing.” The OSS Research report also alleged that “Medicare has recently launched an industry-wide audit in which Tactile has been disproportionately targeted. 70% of Tactile’s claims audited so far have been retroactively denied.”

On this news, Tactile’s share price fell $6.05 per share, or over 11%, to close at $45.67 per share on June 9, 2020, thereby injuring investors.

The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: (1) while Tactile publicly touted a $4 plus billion or $5 plus billion market opportunity, in fact, the total addressable market for Tactile’s medical devices was materially smaller; (2) to induce sales growth and share gains, the Company and/or its employees were engaged in illicit and illegal sales and marketing activities in violation of applicable federal and state rules and public payer regulations; (3) the foregoing illicit and illegal sales and marketing activities increased the risk of a Medicare audit of the Tactile’s claims and criminal and civil liability; (4) Tactile’s profits were in part the product of unlawful conduct and thus unsustainable; and that as a result of the foregoing, (5) the Company’s public statements, including its year-over-year revenue growth and the purported growth drivers, were materially false and misleading at all relevant times; and (6) that, as a result of the foregoing, the Defendants’ statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.

Follow us for updates on LinkedIn, Twitter, or Facebook.

If you purchased or otherwise acquired Tactile securities during the Class Period, you may move the Court no later than November 30, 2020 to ask the Court to appoint you as lead plaintiff. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Charles Linehan, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to [email protected], or visit our website at www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

View original content to download multimedia:http://www.prnewswire.com/news-releases/glancy-prongay–murray-llp-reminds-investors-of-looming-deadline-in-the-class-action-lawsuit-against-tactile-systems-technology-inc-tcmd-301171621.html

SOURCE Glancy Prongay & Murray LLP

OMAHA, Neb., Nov. 12, 2020 /PRNewswire/ — Lindsay Corporation (NYSE: LNN), a leading global manufacturer and distributor of irrigation and infrastructure equipment and technology, today announced the smart pivot, a new category of mechanized irrigation that moves beyond traditional water application and management to a wide array of crop and machine health capabilities, while also delivering proven water and energy savings.

Lindsay’s smart pivot comes to life through two smart streams – FieldNET™ advanced agronomics and Zimmatic™ machine health – designed to support healthier crops and more sustainable farming practices while reducing risk and operational downtime, significantly expanding what the traditional pivot is capable of. Several of the smart pivot features are the outcome of collaboration and joint development with strategic partners, including Taranis.

FieldNET Advanced Agronomics
The smart pivot uses sensors, high-resolution imagery and advanced algorithms to improve crop health — both above and below the crop canopy — with features including:

• Automatic detection of leaf-level health issues, powered by Taranis, such as nutrient deficiencies, pressure from disease and pests and the ability to auto-detect and accurately revise crop growth stages and stand counts remotely.
• Next-level efficiency with enhanced irrigation scheduling capabilities, deriving insights from high-resolution imagery and on-pivot sensors.
• Ability to optimize irrigation at scale to each unique farm, based on operational objectives, with priorities focused on conserving water and energy, boosting yield production and eliminating diminishing marginal returns.

Zimmatic Operational Support and Machine Health

Lindsay is introducing never-before-seen machine health capabilities that include:  

• Advanced machine monitoring at the component level (i.e., tire pressure, gearboxes and motors), using predictive analytics and remote diagnostics to identify performance anomalies that could indicate wear or potential risk of failure.
• Remote connectivity between the pivot and dealer service technicians to enable automatic notifications and service scheduling that will significantly help reduce downtime, lower operating costs and improve reliability.
• Broader detection and reporting of application issues such as ponding, plugged sprinklers and poor spray patterns to drive greater uniformity and precision.
• Support for growers in evaluating and continuously improving the sustainability and profitability of their operations with real-time, running savings calculators that show water, energy and time saved over the course of the season.

“The smart pivot introduces the next era of mechanized irrigation,” said Gustavo Oberto, president of irrigation at Lindsay. “It delivers never-before-seen insights and efficiency to a grower’s operation, changing the way they — and the industry — look at and use center pivots.” Oberto described the smart pivot as a “self-aware, always-there robot in the field, capable of at-scale crop health management, and ground-breaking machine health features. The smart pivot virtually takes care of itself – and your crops,” he said.

Taranis Precision Scouting Partnership
Taranis brings its unmatched precision scouting solution to this partnership, allowing the smart pivot to pinpoint challenges across the entire field for focused management. It empowers growers to make more informed, timely replant, crop nutrition and protection decisions that optimize yields.

“Our precision scouting platform captures comprehensive intel from the field and delivers easy-to-digest insights for Lindsay’s smart pivot,” said Ofir Schlam, CEO and Founder of Taranis. “No other company delivers the high-resolution imagery, field analysis and real-time reports to monitor and respond to field health challenges like our platform. We’ve identified over 50,000,000 agronomic issues in our customers’ fields. Smart pivot customers will have continuous access to the same enhanced insights and field-proven results our current users rely on to make management decisions with confidence.” 

“Today, growers care more than ever about the impact they’re making on their land and resources,” said Wade Sikkink, director of product management at Lindsay. “They need tools and methods that help them increase output, reduce risk and optimize for their specific operational objectives – and also help them demonstrate their dedication to high efficiency farming and conservation. Features like our sustainability calculator and custom objectives tool, along with the range of agronomic and machine health features, are what, combined, define the smart pivot.”

Sikkink said these first features announced today are “just the beginning, as we will continue to expand the circle of innovation with increasingly sophisticated yet easy-to-use smart irrigation solutions.”

Lindsay unveiled the smart pivot through a virtual, live public event on Thursday, November 12. A separate customer input session also took place to gather critical user feedback which the company says will help shape the ongoing smart pivot roadmap.

Smart pivot features are in development now. Field testing is already underway, and a limited commercial offering will begin in the spring of 2021 in North America, with a broader market release expected in spring 2022.

For more information visit www.lindsay.com/smartpivot.  

About Lindsay Corporation

Lindsay Corporation (NYSE: LNN) is a leading global manufacturer and distributor of irrigation and infrastructure equipment and technology. Established in 1955, the company has been at the forefront of research and development of innovative solutions to meet the food, fuel, fiber and transportation needs of the world’s rapidly growing population. The Lindsay family of irrigation brands includes Zimmatic™ center pivot and lateral move agricultural irrigation systems and FieldNET™ remote irrigation management and scheduling technology as well as irrigation consulting and design and industrial IoT solutions. Also a global leader in the transportation industry, Lindsay Transportation Solutions manufactures equipment to improve road safety and keep traffic moving on the world’s roads, bridges and tunnels, through the Barrier Systems™, Road Zipper™ and Snoline™ brands. For more information about Lindsay Corporation, visit www.Lindsay.com.

Descriptions of expected smart pivot features are for informational purposes only. The development, release and timing of future product and feature rollouts remain at Lindsay Corporation’s sole discretion. Any new or supplemental features, functionality and enhancements or timing of release of such features, functionality and enhancements are at the sole discretion of Lindsay Corporation and may be modified without notice. All descriptions of upcoming features, functionality and enhancements or other similar information do not represent a commitment to deliver any material, code or functionality and should not be relied upon in making a purchasing decision.

FieldNET, FieldNET Advisor, FieldNET Pivot Watch, Zimmatic, Barrier Systems, Road Zipper and Snoline are trademarks or registered trademarks of Lindsay Corporation and/or its affiliates.

About Taranis

Taranis represents a new category by bringing together the best of precision ag and crop scouting. Precision scouting combines high-res imagery, field intelligence, comprehensive diagnostics, API integration and deep agronomic know-how, allowing crop advisors and growers to make better, more informed crop management decisions. The company works with 16 of the world’s top 20 agricultural retailers and crop protection companies and monitors more than 20 million acres of land globally for over 19,000 customers in the United States, Canada, Brazil, Russia, Ukraine and Australia. Taranis employs over 80 people worldwide and is headquartered in Sunnyvale.

View original content to download multimedia:http://www.prnewswire.com/news-releases/lindsay-combines-advanced-agronomy-with-predictive-machine-diagnostics-to-create-the-first-smart-pivot-301172132.html

SOURCE Lindsay Corporation