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Articles by Maxwell Murphy
Genomic epidemiology demonstrates spatially clustered, local transmission of Plasmodium falciparum in forest-going populations in southern Lao PDR
The authors have declared no competing interest. This study was funded by the Bill and Melinda Gates Foundation [OPP1116450] to MEI/UCSF. I confirm all relevant ethical guidelines have been followed, and any necessary IRB and/or ethics committee approvals have been obtained.
Evidence for a role of Anopheles stephensi in the spread of drug- and diagnosis-resistant malaria in Africa - Nature Medicine
Abstract Anopheles stephensi, an Asian malaria vector, continues to expand across Africa. The vector is now firmly established in urban settings in the Horn of Africa. Its presence in areas where malaria resurged suggested a possible role in causing malaria outbreaks. Here, using a prospective case–control design, we investigated the role of An. stephensi in transmission following a malaria outbreak in Dire Dawa, Ethiopia in April–July 2022.
MOIRE: A software package for the estimation of allele frequencies and effective multiplicity of infection from polyallelic data
Abstract Malaria parasite genetic data can provide insight into parasite phenotypes, evolution, and transmission. However, estimating key parameters such as allele frequencies, multiplicity of infection (MOI), and within-host relatedness from genetic data has been challenging, particularly in the presence of multiple related coinfecting strains. Existing methods often rely on single nucleotide polymorphism (SNP) data and do not account for within-host relatedness.
When CEOs and CFOs Share an Alma Mater
On 500-mile road trips to watch Mizzou basketball games, executives David Haffner and Matthew Flanigan talk strategy. Afterward, the University of Missouri alumni munch hot slices at Shakespeare's Pizza and map out plays—including some painful team cuts a few years ago—for their company, Leggett & Platt Inc. LEG -0.20% "[We] get home about two in the morning or later, and dang it if we don't have an eight o'clock" meeting, said Mr. Haffner (Class of '74), chief executive officer.
Investors Shrug Off Lofty Dividends, Stock Buybacks
Finance chiefs say they aren’t influenced much by short-term stock prices, but a growing number of them are scratching their heads about why the market is punishing their stocks despite record revenues and rising dividends. Over the past year, the S&P 500 index has fallen 11%, even though many of its constituents sport lofty dividends. Many companies also continue to buy back their stock.
Gap Names Former Kraft Finance Chief as Next CFO
Gap Inc., the San Francisco-based clothing chain that will lose its longtime finance chief early next year, named a veteran of Dick’s Sporting Goods Inc. and Kraft Foods as its next CFO. Teri List-Stoll will become CFO on Jan. 17, Gap said in announcement. Ms. List-Stoll left her position as CFO of Pittsburgh-based retailer Dick’s...
Companies Embrace IPO Alternatives
Companies are losing the urge to go public, despite a buoyant stock market, choosing instead to be acquired by corporate or private-equity suitors. Cybersecurity company Tenable Network Security Inc. has managed to raise plenty of capital without an initial public offering, and loanDepot Inc. shelved plans for an IPO last year. Craft brewer Ballast Point Brewing & Spirits Inc., meanwhile, sold itself to wine and spirits maker Constellation Brands Inc.
Cities, States Need Top Financial Talent, but Fall Short on Pay
Help wanted: Top-notch financial talent needed to face intense regulatory scrutiny; no bonuses or equity awards; modest civil servant’s paycheck. That is not a job that would appeal to most of the nation’s best and brightest financial executives, who enjoy the big cash and stock incentives—not to mention the prestige—offered by the private sector. But states and towns increasingly need such executives to manage bond sales and pension deficits, as they come under closer government oversight.
Investors Push for Fuller Picture of Corporate Political Contributions
With an especially contentious campaign season in full swing, corporate political spending is a hot topic this proxy season. Though regulators don’t require it, more than half the S&P 500 companies make some effort to disclose their political activities or spending policies, according to an October study by the Center for Political...
Capital-Spending Gaps Can Create a Public Spectacle
For years Cedar Fair LP spent profits from the 111-year-old hotel at its flagship Ohio amusement park on new rides, letting sections of the Hotel Breakers go untouched.
At Many Big Companies, New Blood Refreshes Finance Teams
From Walt Disney Co. to Comcast Corp., some of the nation’s largest companies installed new finance chiefs this year. As many as a quarter of the companies in the S&P 100 index hired or announced a new leader for their finance team in 2015 or said that one was leaving, according to a Wall Street Journal analysis. Among the departures, Disney’s Jay Rasulo left his post in June, and Wal-Mart Stores Inc.’s Charles Holley said he...
Corporate Cash Now $2.1 Trillion: J.P. Morgan
Large U.S. nonfinancial companies held almost $2.1 trillion in cash at the end of their most recent quarters, according to J.P. Morgan. Illustration: Bloomberg Non-financial companies in the S&P 500 had nearly $2.1 trillion in cash on hand at the end of October, according to a report released Wednesday by J.P. Morgan Chase & Co. That sum, $2.07 trillion, is higher than the annual gross domestic product of all but eight countries, the firm said.
To Find a CFO, Many Firms Turn to Their Own Board Members
Erstwhile Crocs Inc. CFO Jeffrey Lasher began looking for a new job when the company placed Carrie Teffner, a well regarded former finance chief, on its board of directors in June. Earlier this month the Colorado footwear maker named Ms. Teffner, former CFO for PetSmart Inc., as its next finance chief. Crocs said in September that Mr. Lasher would join boating-equipment retailer West Marine Inc. this month. He said he didn’t...
SEC Readies Clawback Rules for Punishing Bad Accounting
When errors are found in a company’s books, the responsibility often falls on the finance chief and chief executive who signed off on the numbers. And it is up to the board of directors to decide whether they should be penalized by returning some of their compensation. The Securities and Exchange Commission is about to issue new rules that would take away a board’s discretion in such cases, and would require companies to punish...
Public or Private, Health Benefits Face Strategic Pruning
Finance chiefs at companies ranging from Cisco Systems Inc. to Westmoreland Coal Co. are scrutinizing employee health benefits as they face the Affordable Care Act’s looming “Cadillac tax” on generous health plans. They aren’t the only ones.
Concerns Over China, Lower Oil Prices Continue to Linger
Finance chiefs are coming to grips with a range of concerns that could hurt earnings and revenue during the second half of the year. China’s stock market is in turmoil. Oil prices stayed weak. And U.S. companies suffered the crunch of a stronger dollar in Europe and much of the rest of the world.
The Hows and Whys Behind Spinoffs
Shareholders have reaped billions of dollars from spinoffs this year, proving that the sum of a company’s parts can be worth more than the whole. Since Jan. 1, companies have distributed more than $50 billion in shares to investors to transform U.S.-based units into stand-alone enterprises. That is nearly 25% more than in the year-earlier period, according to Dealogic. Copyright ©2024 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
Bond-Funded Dividends, Buybacks Draw Skeptics
As investors size up the potential risks and returns of corporate bonds, some are keeping a closer eye on a new concern: what the company plans to do with the proceeds. Companies typically offer bonds to fund acquisitions, invest in their businesses or refinance debt. But a growing number are using them to fund dividends and stock buybacks.
Companies Drag Feet on Updating Fraud Safeguards
Corporate safeguards to prevent financial errors and fraud are like armor: unpolished they rust, and by then it’s too late. The most widely followed standards for these safeguards—or internal controls—were updated more than a year and a half ago. A deadline to adopt the new, more detailed standards passed in December. But that hasn’t stopped more than 300 companies, with a combined market value of more than $450 billion, from...
For New Revenue-Recognition Rules, It’s Ready vs. Not
Call it the $360 billion question: whether to delay one of the biggest accounting changes in decades. The answer isn't expected until early in the second quarter. The sweeping revisions in revenue-recognition rules "will represent a change for many industries," said Christine Klimek, a spokeswoman for the Financial Accounting Standards...
Buybacks Can Juice Per-Share Profit, Executive Pay
Buying earnings growth cuts both ways. In the most recent quarter, one in four companies in the S&P 500 index is expected to have juiced its earnings per share by 4% or more by snapping up its own stock, according to S&P Dow Jones Indices.
Some Big Firms Do Just Fine Without a CFO
A vacant chief financial officer's chair usually sends companies scrambling. By design or circumstance, however, several have taken a different tack. At least seven U.S. companies with revenue above $5 billion don't have an official chief financial officer, reflecting two trends: the job's increasing focus on corporate strategy, and the difficulty in finding the right candidate.
Executive Responsibility For ‘Going Concern’ Disclosures Increases
Corporate managers will have to make more uniform disclosures when there is substantial doubt about their business’ ability to survive, the Financial Accounting Standards Board said Wednesday. The FASB updated U.S. accounting rules, effective by the end of 2016, to define management’s responsibility to evaluate whether their business will be able to continue operating as a “going concern,” and make relevant disclosures in financial statement footnotes.
Risks Create Tumult for Tech, Health-Care Firms
Change can be good, bad or just plain scary. That is clear from the strongest trends in second-quarter financial results. Seismic shifts in the technology and health-care sectors highlight why executives are divided or undecided about taking financial and strategic risks. At the same time, the number of geopolitical tinderboxes has multiplied, raising the stakes for multinationals.
Meet the SEC's 6,500 Whistleblowers
What do four adult entertainers, 138 engineers, a handful of pilots and a pastor have in common? They all think they have hot tips about an alleged financial fraud. They are also among the more than 6,500 people who have offered confidential information under the whistleblower program of the Securities and Exchange Commission.
Flying School Colors in the C-Suite
On 500-mile road trips to watch Mizzou basketball games, executives David Haffner and Matthew Flanigan talk strategy. Afterward, the University of Missouri alumni munch hot slices at Shakespeare's Pizza and map out plays-including some painful team cuts a few years ago-for their company, Leggett & Platt Inc. "[We] get home about...
Currency Swings Hurt Europe in the First Quarter
Health care and life sciences companies are working to increase patient engagement, enhance transparency and align financial incentives to outcomes to help transition to value-based models, according to panelists at the U.S. Healthcare and Life Sciences Conference hosted by the Financial Times and Deloitte LLP.
Firms Struggle to Steer Clear of Sanctions
Welcome to the minefield of international sanctions: navigate the terrain just right, and big deals go through; make a misstep and pay the price. Last month, British and Russian energy companies struck an oil deal worth at least $1.5 billion. Last week, however, U.S.
Pepsi CEO: CFOs Need Non-Traditional Skills to Move Up
Indra Nooyi knows what it takes for a finance chief to become chief executive, having made the move herself nearly eight years ago. She also knows the move remains tough for all but a handful of CFOs. A promotion to the top spot entails not only a non-traditional CFO mentality, but also support from above to pursue non-traditional roles, PepsiCo Inc.’s CEO told The Wall Street Journal’s fourth annual CFO Network conference in Washington, D.C. on Monday evening.
Companies Detail Use of 'Conflict' Metals
A dozen companies including Google Inc., J. Crew Group Inc., and Deere & Co. acknowledged they or their suppliers may have obtained metals from mines in a region known to use mining to fund armed militias, according to filings with the Securities and Exchange Commission.
Currency Chaos in Venezuela Portends Write-Downs
Doing business in any foreign country can be risky. Then there's Venezuela. With the highest inflation rate in the Americas and at least five currency devaluations in the past decade, the South American country is a corporate guessing game. In just...
House Approves Permanent R&D Tax Credit, Despite White House Warning
The U.S. House of Representatives voted overwhelmingly on Friday to approve a bill making the research-and-development tax credit permanent, even as the White House has threatened to veto the bill due to funding concerns. As WSJ’s John McKinnon reports, the House voted 274-131 to approve House Resolution 4438, which would renew, simplify, and make permanent the popular business tax break.
Currency Risks Force CFOs to Rethink Strategies
Violent currency swings are the new normal for finance chiefs, forcing them to go beyond traditional hedging strategies. Currencies in at least 20 countries have fallen 6% to 37% against the U.S. dollar over the past year.
Companies Cut Debt-to-Cap Ratios
That’s the tally of nonfinancial companies in the S&P 500 that cut their debt-to-capitalization ratio in the past year. Historically low interest rates spurred companies to issue a record volume of debt securities last year, but more companies than not took the time to trim a key indicator of their debt load.
Pension Costs Fall, Freeing Up More Cash
Rising interest rates and surging stocks propelled corporate pension plans to their highest year-end funding levels since 2007, giving companies the financial freedom to open their purse strings. While the final numbers are still coming in, total pension funding levels of companies in the S&P 500 index are projected to have improved by $303 billion last year.
Who Will Be GM's New Finance Chief?
General Motors Co.'s new executive lineup sparked speculation on Tuesday about who would succeed Dan Ammann as chief financial officer. Mr. Ammann was named president, in charge of GM's regional operations around the world, as well as the Chevrolet and Cadillac brands and GM Financial. He will remain CFO through mid-February, when the company...
Corning Uses M&A to Bring Back Trapped Cash
David Rader, former CFO of Frito-Lay, discusses the changes in the CFO's world both during and since his tenure and their impact. He explains the importance of gaining organization-wide trust to drive change and staying focused on the business's long-term success despite quarterly earnings pressures. Mr. Rader also talks about the “How” CFO, one who works with operations to find financial solutions that help the business innovate.
Corporate Results Expose Lack of Confidence
Investors sifting through third-quarter financial results should be a bit nervous about the future growth of the U.S. economy. Though corporate profits were higher overall, companies slashed their spending on factories, equipment and other performance-enhancing investments by 16% from year-earlier levels, according to an analysis by REL Consultancy for The Wall Street Journal.
Corporate Results Expose Lack of Confidence
Investors sifting through third-quarter financial results should be a bit nervous about the future growth of the U.S. economy. Though corporate profits were higher overall, companies slashed their spending on factories, equipment and other performance-enhancing investments by 16% from year-earlier levels, according to an analysis by REL...
Firms Get More Wiggle Room on Soured Deals
Just a handful of companies have taken goodwill write-downs this year on past acquisitions that have soured. Low premiums, high stock prices and new accounting rules may be letting more firms avoid or delay the charges.
Clock Is Ticking on Some Major Tax Breaks
When Congress resumes the budget debate on Wednesday, many companies will be nervously counting the days. That is because 55 federal tax breaks are scheduled to expire at the end of the year. The uncertainty over their fate already is muddying financial forecasts for next year, corporate executives say.
A Sampling of New Facts From Twitter’s IPO
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What CFOs Are Saying About the Shutdown
Scores of companies have cautioned investors that their businesses could suffer because of the federal furloughs and agency closures.
What CFOs Are Saying About the Shutdown
Scores of companies have cautioned investors that their businesses could suffer because of the federal furloughs and agency closures.
What CFOs Are Saying About the Shutdown
Scores of companies have cautioned investors that their businesses could suffer because of the federal furloughs and agency closures.
What CFOs Are Saying About the Shutdown
Scores of companies have cautioned investors that their businesses could suffer because of the federal furloughs and agency closures.
Multinationals in Egypt Hunker Down To Keep Workers, Infrastructure Safe
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CFOs Ignore Big Data at Their Peril
Big data seems tailor-made for finance chiefs. So why aren't more of them using it? On the Money: How companies can get smart about raising prices. Is It a Bribe? Take our quiz on the Foreign Corrupt Practices Act. Broken Process: Companies get budgets all wrong. How to do them right.
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