COLLIERVILLE, Tenn.--(BUSINESS WIRE)--Nov 18, 2024--
Namara Water Technologies, Inc., developer of the most advanced smart water control system on the market, has named IPS ® Corporation as an exclusive distributor. Recognized as a leading provider of water and flow management solutions for professional end-users as well as structural and assembly adhesives, IPS ® Corporation will have exclusive distribution rights for the Namara Smart Water Control System at plumbing wholesalers in the United States and Canada.
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“A truly revolutionary plumbing solution, the Namara Smart Water Control System helps homeowners save water and money while helping them protect their investments and reduce their environmental impact, and we look forward to bringing this invaluable product to key target markets,” said Nick Cassella, President, Watertite Products (an IPS subsidiary). “Our initial focus will be on high-population areas where access to water is more limited, such as counties within Southern California, and we will use our experience in training and building relationships with plumbing contractors in those regions to help drive sales.”
The Namara Smart Water Control System’s patented variable flow valve technology actively and intuitively regulates water pressure, addressing the root cause of costly leak damage and water waste. Namara’s app-controlled smart valve allows customers to detect leaks, optimize appliance efficiency, schedule events, and track water usage to promote water sustainability. With a single solution, the home’s entire water system transforms into an intelligent, seamless safeguard — proactively preventing damage and reducing homeowner costs by up to 30%.
“We've engineered the market's most powerful smart water control system by solving what others have ignored: unregulated water pressure,” said TJ Cooley, Co-Founder and CEO of Namara Water Technologies. “Namara is built to be the reliable, all-in-one water management solution that puts homeowners in full control and plumbers can trust to ‘just work.’ It’s simple to install, reliable in action, and effortless to use. Through our partnership with IPS, we look forward to utilizing their team’s industry knowledge and distributor network to expand access to a smart, reliable water solution that empowers both homeowners and plumbers alike."
About Namara:
Namara Water Technologies is on a mission to make it easy for busy people to be smart, proactive, and efficient about water in their homes. Namara’s veteran team hails from the tech, builder, and plumbing world, and have purpose-built the market's most advanced smart water control system to benefit every stakeholder in home water management. Namara delivers what homeowners want, what insurers demand, and what builders and plumbers trust. For more information about the Namara Smart Water Control System, visit https://namarawater.ai/company/.
About IPS ® Corporation:
IPS ® Corporation is an industry-leading provider of water and flow management solutions as well as specialty adhesives solutions. Through continuous innovation for over a half-century, IPS ® Corporation is enabling professional end-users in a variety of industries — such as plumbing and waterproofing — to do a faster, more professional job. IPS ® Corporation was first to produce a reliable cement for use with PVC, CPVC, and ABS pipes and fittings, and first to introduce plastic recessed washing machine and ice maker outlet boxes. Today, our industry-leading products are proudly manufactured at facilities throughout the world and available through a nationwide network of customer-focused distributors. For more information about IPS® Corporation and its businesses, visit www.ipscorp.com.
Owner of Trusty Plumbing, Dominic Ratajczak, installs new Namara Smart Water Control System into home. (Photo: Business Wire)
The Namara Smart Water Control System with customized control app. (Photo: Business Wire)
NEW YORK (AP) — Most U.S. stocks are drifting higher Monday as Wall Street holds steadier after seeing much of its rally following Donald Trump’s presidential victory dissipate.
The S&P 500 was up 0.4% in morning trading. The Dow Jones Industrial Average was down 31 points, or 0.1%, as of 10:45 a.m. Eastern time, and the Nasdaq composite was 0.8% higher.
CVS Health rallied 4.4% after adding four new directors to its board. The health giant did so following discussions with a major investor, hedge-fund owner Glenview Capital Management. Its CEO, Larry Robbins, is one of the new directors.
Liberty Energy also helped pull the market upward after rising 2.9%. Trump named its CEO, Chris Wright, as his Secretary of Energy.
Trading of Spirit Airlines’ stock, meanwhile, was halted after the budget carrier said it reached an agreement with its debtholders on a plan to take it through Chapter 11 bankruptcy protection. The airline will continue to fly while it restructures, but it will also likely wipe out the holdings of all its current stock investors.
Stocks broadly gave back more than half their postelection gains at the end of last week, and the S&P 500 fell Friday to its worst loss since before Election Day. Investors had sent the S&P 500 nearly 4% higher in the days immediately following Trump’s win. Bank stocks, smaller companies and other areas of the market seen as the biggest winners from the president-elect’s preference for lower tax rates, higher tariffs and lighter regulation did particularly well.
More recently, though, investors have braced for some of the potential downsides for the market of Trump’s reshaping of the economy. Moderna rose 4.5% on Monday, but it is still down since Trump said he wanted Robert F. Kennedy Jr., a prominent anti-vaccine activist, to lead the Department of Health and Human Services.
Worries about potentially higher inflation under Trump have also sent Treasury yields upward in the bond market. Such results could tie the Federal Reserve’s hands, when the central bank is trying to lower interest rates to ease the brakes off the economy and keep the job market humming.
While lower rates can give a boost to growth, they can also add fuel for inflation.
“Traders appear to be gauging the potential impact of a new Trump administration’s policies on the economy, and the possibility that the Fed may slow down its rate-cutting campaign,” according to Chris Larkin, managing director, trading and investing, at E-Trade from Morgan Stanley.
Higher rates and yields in turn mean more pressure on companies to make bigger profits in order to make their stock prices look less expensive. Their prices have already run up much faster than their earnings.
Several big-name companies will be reporting their latest profit result this week, including market heavyweight Nvidia on Wednesday.
The chip company has grown into one of Wall Street’s most influential, with a total market value of nearly $3.5 trillion, after becoming the poster child of the rush into artificial-intelligence technology. It will need to hit analysts’ high expectations for growth during the latest quarter, if not more, to justify its big stock price.
Other big companies set to report results this week include Lowe’s and Walmart on Tuesday, Target on Wednesday and Deere on Thursday.
The big-box retailers will be reporting after an update on Friday said shoppers spent more at U.S. retailers generally last month than expected. It's the latest signal that the most influential force on the economy remains solid, but the data may not be quite as strong as it appeared. After taking away purchases of automobiles, sales at retailers were weaker last month than economists expected
In the bond market, Treasury yields were holding steadier, which helped keep things calmer in the stock market. The yield on the 10-year Treasury was holding at 4.45%, where it was late Friday.
In stock markets abroad, indexes were mixed amid modest moves in Europe following sharper swings in Asia.
South Korea’s Kospi jumped 2.2% after Samsung Electronics, the country’s biggest company, announced a share buyback plan.
AP Business Writers Matt Ott and Elaine Kurtenbach contributed.
FILE - People pass the New York Stock Exchange on Nov. 5, 2024, in New York. (AP Photo/Peter Morgan, File)
Trader Robert Charmak works on the floor of the New York Stock Exchange, Friday, Nov. 8, 2024. (AP Photo/Richard Drew)
FILE - A person stands near an electronic stock board showing Japan's Nikkei index at a securities firm in Tokyo, on Sept. 18, 2024. (AP Photo/Eugene Hoshiko, File)
FILE - A passerby moves past an electronic stock board showing Japan's stock prices outside a securities firm in Tokyo, on Oct. 11, 2024. (AP Photo/Shuji Kajiyama, File)
