Latest news with #MikeBerry
CBC
06-06-2025
- Climate
- CBC
'Long overdue' dikeland upgrades coming to rural N.S. community
A rural Nova Scotia community on the Bay of Fundy is preparing for the most significant upgrades in decades to the dikeland system that protects it from flooding. The work has been approved for Advocate Harbour, N.S., which has been identified as being at risk due to rising sea levels caused by climate change. People who live along the shore of the coastal community got to see plans for the project at a meeting in April. "It's been a long time coming," said Linda Black, whose home is within a couple of hundred metres of the shore. "It's scary when the tide is in full and that water is up to the top of the rocks." Her neighbour Mike Berry recalls the water being at his fence line during a storm in 2019. "The cattle were stranded on the high points. There was no damage, but it just put things in perspective," Berry said. The upgrades will see the height of the dike walls increased by two metres to an elevation of 7.6 metres in some parts. They will also be extended by an additional 500 metres to provide added protection to the community. The project is equally funded by the provincial and federal governments through a disaster mitigation and adaptation fund. Climate change is the big driver for the reinforcement work, with projections in Nova Scotia showing sea levels are anticipated to rise up to one metre by 2100. "The risk currently is that we're seeing flooding in certain regions of Nova Scotia and with the dike increase in height, we would protect the town and local infrastructure and agricultural farmlands from that flooding," said Jessica LeBlanc, a project engineer for the provincial Department of Public Works. While the dikes are continually maintained, LeBlanc said there has not been extensive work on them since the 1950s. The site is one of 16 the province earmarked for upgrades based on their vulnerability. Thousands of tons of armour rock will be needed to build up the seaward side of the dike, with grass on the land side, she said. The number of trucks that will be carrying rock through the community is a concern for the owners of the Wild Caraway restaurant. They are worried that the amount of construction might spoil the experience for their guests, who could also lose some of the impressive harbour view when the dike is raised. However, they're also pleased there will be added defence from any possible storm surges. "It's always in the back of our minds," said Marchel Strong, the councillor for the area, who is also a volunteer firefighter and has been part of the flood risk committee. "It's not if, it's when we have another breach. And it could be anytime," Strong said. "So it's definitely something that is long overdue." People in the area prefer the option that is now going ahead rather than raising up the road, which Strong said could have resulted in having to relocate the post office. And she's happy that on top of the dike there will be walking trails people can explore when the tide is out. "It'll make it much more viable for tourists," Strong said, estimating the project will cost about $7 million. The Advocate Country Store, located close to the shoreline, is pleased to know the embankments will be strengthened. The residential care facility just across the street, which already has a disaster plan in place, also thinks the work is important. "If a big storm happened and the dike breached, we would be quite vulnerable as our residents would have to be transported elsewhere and the community is quite isolated," said Bernadette Frank, the administrator of Chignecto Manor. There is still some permitting and regulatory work to be done, but the province expects work will start in the fall. The sheer size of the project means it will also take some time, with the province estimating construction will last up to two years.
Yahoo
05-06-2025
- Business
- Yahoo
MongoDB Soars 17% After Blowout Quarter, Analysts Boost Price Targets
June 5 - Shares of MongoDB (NASDAQ:MDB) climbed about 17% in Thursday's premarket trading after the company topped expectations for its fiscal first quarter and raised full-year guidance, according to a press release. Revenue for the quarter grew 6%, driven by stronger-than-expected performance from its cloud database product, Atlas. Analysts from Wedbush, BofA Securities, and Morgan Stanley reiterated their bullish stance on the stock, pointing to improving business momentum and AI-driven opportunities. Warning! GuruFocus has detected 5 Warning Sign with MSFT. Atlas revenue came in at $395 million, growing 1.3% from the previous quarter, outperforming guidance. MongoDB also added a record 2,700 new customers in the period. Non-Atlas segments, including Enterprise Advanced, generated $136 million, slightly ahead of forecasts. Wedbush maintained its Outperform rating with a $300 price target, citing growing demand for legacy modernization and AI adoption. The firm highlighted the impact of the Voyage AI acquisition and said MongoDB is in the early stages of unlocking value from Atlas. Morgan Stanley lifted its price target to $255 from $235, while BofA reaffirmed its $275 target. Analysts said Atlas growth of 26% year-over-year and strong customer trends support long-term upside. Mike Berry took over as CFO on May 27, with analysts expecting a smooth transition. This article first appeared on GuruFocus. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
05-06-2025
- Business
- Yahoo
MongoDB Jumps 17% on Strong Q1 Beat
MongoDB (NASDAQ:MDB) surges 17% premarket after beating Q1 fiscal 2026 estimates and raising guidance amid Atlas momentum. Analysts at Wedbush retained their Outperform rating and $300 price target, noting that Atlas monetization is just getting started as the cloud database provider posted revenue upside of roughly 6% driven by a 7% beat in Atlas. Atlas revenue reached $395 million, up 1.3% quarter-over-quarter versus flat to down guidance, while non-Atlas revenue of $136 million exceeded the implied $132 million forecast. Net Atlas customer additions of 2,700well above the historical 1,5002,000 rangeunderscore accelerating enterprise demand for next-gen database solutions. Wedbush's Daniel Ives pointed to MongoDB's Voyage AI acquisition as a catalyst for wider AI adoption, while noting that new CFO Mike Berry's May 27 appointment should be seamless and support efforts to sharpen operating efficiency. BofA Securities' Brad Sills maintained a Buy rating and $275 target after calling the quarter strong, attributing upside to stabilizing usage and easing unused credit headwinds. Morgan Stanley's Sanjit Singh bumped his price target to $255 from $235, citing Atlas growth accelerating to 26% year-over-year, up from 24% in Q4, paired with record customer additions and prudent guidance. Despite a tougher macro environment, MongoDB's mix shift toward cloud and AI-driven services positions it to outpace competition like Postgres in the $120 billion unstructured data management market. Investors care because MongoDB's stronger growth trajectory and raised outlook suggest upside potential, even as peers face margin pressures. Investors will watch Q2 Atlas growth and updated full-year guidance when MongoDB reports next quarter. This article first appeared on GuruFocus. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
CNBC
05-06-2025
- Business
- CNBC
MongoDB jumps 15% after company boosts guidance, cites confidence in cloud-based database service
MongoDB shares surged 15% after the software company surpassed fiscal first-quarter earnings expectations and raised its outlook, citing growing confidence in its cloud-based database service. Revenues hit $549 million during the period, jumping 22% from more than $450 million in the year-ago period. That topped a $528 million estimate from analysts polled by LSEG. Adjusted earnings per share reached $1.00, surpassing the 66 cents per share projected by analysts. "We are confident in our position to drive profitable growth as we benefit from this next wave of application development," said CEO and president Dev Ittycheria in a release. For the 2026 fiscal year, MongoDB raised its guidance, saying it now expects between $2.25 billion and $2.29 billion in revenue and $2.94 to $3.12 in adjusted earnings per share. MongoDB previously forecast revenues between $2.24 billion and $2.28 billion and adjusted earnings of $2.44 to $2.62 per share for the year. MongoDB expects revenues to range between $548 million and $553 million in the current fiscal quarter. Adjusted earnings are forecasted to reach 62 cents to 66 cents per share during the period. During a company earnings call, finance chief Mike Berry cited "continued confidence" in its Atlas cloud-based database services and "timing differences" in its Enterprise Advanced database business as the reason for the guidance boost. Berry took over the role at the end of May. MongoDB said revenues for Atlas during the quarter grew 26% from a year ago and accounted for 72% of total revenues. "As digital transformation and public cloud adoption remain top priorities, we believe MongoDB is well positioned to capitalize on growth from net new workloads and re-platforming of legacy applications," wrote Goldman Sachs analyst Kash Rangan in a note to clients. The database software maker's net loss narrowed from a year ago to $37.6 million, or a loss of 46 cents per share. That's down from a net loss of $80.6 million, or a loss of $1.10 per share last year. The company also boosted its share buyback plan by $800 million to $1 billion.
The Guardian
29-05-2025
- Entertainment
- The Guardian
Letter: Mike Berry obituary
Those of us in a back room at the Half Moon in Putney, west London, were lucky enough to see the singer, songwriter and sometime actor Mike Berry only a few weeks before his death. He was in good voice, still played a mean rhythm guitar, and did two wonderful sets of songs interspersed with entertaining chat, stories and reminiscences. He was also a thoroughly nice guy and clearly still enjoyed playing and entertaining people.
