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Dow Jones Newswires: South Korea’s exports contract for fourth straight month

South Korea's exports contracted for a fourth straight month in January on sluggish global demand......»»

Source:  marketwatchCategory: top~14 min. ago Related News

: Tech stocks just had their best January in decades — here’s why that may not be a good sign

Technology stocks are on quite a tear to start 2023, but that could actually be an ominous signal......»»

Source:  marketwatchCategory: top~14 min. ago Related News

House Democrats have already found something to love about Kevin McCarthy"s Republican-led House

Last week, lawmakers offered amendments to legislation on the House floor for the first time since May 2016. Democrats say they're into it. Last week, rank-and-file lawmakers were able to propose amendments on the floor for the first time since May 2016.Win McNamee/Getty Images The House just used an open process for amending legislation for the first time in 7 years. Democrats proposed nearly 60 amendments to a largely symbolic bill put forward by the GOP. The use of the process — a concession from McCarthy to his right flank — has some Democrats excited. For the first time in nearly seven years, the House of Representatives did something that one might expect it to do on any normal day: engage in a relatively free-form debate over amendments to a major piece of legislation.On Thursday and Friday of last week, the House used a so-called "open amendment" process to churn through 56 amendments — almost all of which were proposed by Democrats — to a bill teed up by the new Republican majority. It's the first time the process, one of the concessions Kevin McCarthy made to the right-flank of his party to secure the House Speaker seat, has been used since May 26, 2016. In the nearly seven years since, under Democratic and Republican speakers, members have essentially been asked to swallow bills put forward by party leadership, or have been allowed to vote on a highly limited number of pre-determined amendments."I tend to favor policy and procedural changes that decentralize powers to the members," said Democratic Rep. Ritchie Torres of New York, who told Insider that he "loved" Republicans' use of the procedure. "Even a broken clock is right twice a day.""I think it was refreshing to be able to offer these kinds of amendments," said Democratic Rep. Alexandria Ocasio-Cortez of New York, who offered three amendments to the bill and said progressives had long argued for opening up the rules process."I mean, I generally favor an open system in Congress," said Democratic Rep. Joaquin Castro, who also offered an amendment and noted that he used a similar open amendment process as a state legislator. "That's what I did for 10 years in Texas."The return of open amendmentsIncreasing the use of that process — which allows rank-and-file lawmakers to submit amendments to be voted upon by the whole of the House — was a major part of the Freedom Caucus's stated agenda. The potential move towards open amendment votes would represent a sea change from the way that former House Speaker Nancy Pelosi ran the institution over the last four years. A recent analysis by the Bipartisan Policy Center shows that the number of so-called "open rules" dropped to zero under her tenure, frustrating more junior members in particular by offering them less input into the legislative process. But in interviews with Insider this week, Democrats also expressed skepticism that the use of open rules would be more than a one-time thing; the open rules that the chamber utilized last week were provided for as part of the House GOP's rules package."We'll see how long this lasts," said Democratic Rep. Zoe Lofgren of California, a long-time ally of Pelosi. "If they start losing on a bunch of amendments, they will reconsider."And they pointed out that the current divided government, in which bills passed in a Republican-led House generally stand little chance in the Democratic-led Senate, lowers the stakes of amendments."I think one reason that the Republican majority is willing to do this is because they know that none of the bills they pass will actually become law," said Democratic Rep. Ted Lieu of California, who nonetheless said he was "pleased" to offer a "great" amendment last week.The House was voting on the Strategic Production Response Act, a Republican-proposed bill that would limit President Joe Biden's ability to tap the strategic petroleum reserve without drawing up plans to increase the amount of public land available for oil and gas drilling. It was essentially a conservative messaging bill. Just one House Democrat voted for it, Biden has threatened to veto it, and it faces no chance in the Democratic-controlled Senate. Nonetheless, Democrats proposed scores of amendments, and Rep. Josh Gottheimer of New Jersey managed to get a couple passed, even as he voted against the final bill.Rep. Abigail Spanberger introduced an amendment to exclude Virginia's coastline from the bill.Drew Angerer/Getty Images"There's an element of like, 'This has all been messaging,'" said Democratic Rep. Abigail Spanberger of Virginia, noting the bill's dim chances in the Senate. "But I do think that the basic premise of trying to make a bad bill less bad is important."Spanberger herself had fun with open amendments, submitting one that would exclude drilling from areas offshore because the GOP majority was "looking to destroy Virginia's beautiful coastline." It failed along party lines.'Every rule can't be open'Going forward, it will be up to the House Rules Committee, which has historically been controlled by allies of the Speaker, to determine how often floor amendments will be allowed.And proponents of open rules may have some cause for hope — yet another concession made by McCarthy was the seating of hardline Republican Reps. Chip Roy of Texas, Ralph Norman of South Carolina, and Thomas Massie of Kentucky on the committee. Roy in particular has been a vocal proponent of opening up the process, telling Insider that he would be a "voice" for open rules on the committee but "not a blind one." Spanberger credited Roy — who she considers to be a friend — for the increased use of the process, noting that it "certainly wasn't the speaker's intention or desire" to allow for more open amendments. "Now look, every rule can't be open," said Roy, arguing that some bills were simple enough to keep the rules closed. He also indicated that he would be somewhat deferential to McCarthy and the House Republicans' agenda while the Congress took its "training wheels off," given that it's been years since amendments have been offered on the floor.And though Republicans managed to crank through nearly 60 amendment votes in just a couple of hours last week, giving members just two minutes to vote on each, timeliness will continue to be important."I guess the question is: How do you balance it with time?" said Democratic Rep. Ro Khanna of California, who said he generally favors an open process. "Maybe those things will self-regulate when the novelty wears off."Read the original article on Business Insider.....»»

Source:  nytCategory: personnel~30 min. ago Related News

Federal agencies had intel that could have prevented Jan. 6 attack but they failed to act on it, committee investigator tells NBC

Tim Heaphy, investigative counsel for the Jan. 6 panel, told NBC News that the FBI, DHS, and other law enforcement agencies didn't adequately prepare. Trump supporters clash with police and security forces as they storm the US Capitol in Washington, DC, on January 6, 2021.Olivier Douliery/AFP via Getty Images Law enforcement agencies could have prevented the Jan. 6 attack, a committee investigator said. Tim Heaphy told NBC News that the FBI and DHS had important intel but failed to act on it. The Congressional committee investigating the attack downplayed law enforcement's role in the riot. The Federal Bureau of Investigation, Department of Homeland Security, and several other law enforcement agencies had the intelligence necessary to stop the Jan. 6, 2021 Capitol attack before it ever began but failed to take adequate action in time, according to a top insurrection investigator and former federal prosecutor.Tim Heaphy, who served as chief investigative counsel for the House Select Committee investigating the siege, told NBC News in an exclusive interview this week that the panel ultimately downplayed the agencies' culpability in its final 845-page report released in December.Lawmakers who investigated the attack emphatically laid the blame on Donald Trump, outlining how the former president sparked the violent riot with his repeated lies about the 2020 presidential election.  Heaphy told NBC he doesn't discount the committee's Trump-centric conclusion, but said the panel failed to stress the outsized role law enforcement played in allowing the insurrection to unfold. "Law enforcement had a very direct role in contributing to the security failures that led to the violence," he told the outlet. It wasn't a lack of pertinent intelligence that led to violence on Jan. 6, but a failure to respond accordingly to an array of online leads and tips ahead of the attack, according to Heaphy, who cited findings from the committee's Blue Team, a group of investigators specifically focused on the role of the FBI, DHS, Secret Service, Capitol Police, Department of Defense, and Washington, D.C. police that day. The Blue Team's findings were never included in any of the committee's 10 televised hearings, Heaphy told NBC, and the panel's final report downplayed the team's findings, saying law enforcement couldn't have predicted Trump's behavior. But Heaphy told the outlet that investigators cemented several significant findings related to the responding federal agencies on Jan. 6, including that Capitol police didn't deploy enough officers to defend the building; the FBI and DHS failed to stress the possibility of violence by domestic extremists ahead of the attack; the FBI and DHS avoided using "open source" intelligence on social media out of a "misplaced" fear of violating free speech; the FBI and DHS failed to combine forces and share a joint warning about the threats they were documenting which could have paved the way for a stronger initial defense; and there was general confusion about which federal agency was in charge that day.The committee encountered "numerous" examples of legitimate intelligence that were either ignored or downplayed ahead of the attack, Heaphy said. Researchers have since found much of it online post-riot, including a Dec. 27, 2020 post on Donald.win, in which a tipster warned of an "attempted coup/terrorist attack on Jan. 6th," begging officials to "please please take this tip seriously and investigate further," the outlet reported."There's no question that this was relatively unprecedented," Heaphy told NBC. "That said, there were plenty of indications that there could be violence, and law enforcement could have and should have done a better job of anticipating that."Sources told the outlet that the committee chose to pair down mentions of law enforcement failures in its public presentations in order to keep the focus on Trump. Previous reporting indicated Rep. Liz Cheney, the committee's Republican vice chair, in particular, was intent on keeping the panel's work Trump-heavy.Neither the FBI nor DHS immediately responded to Insider's request for comment.Read the original article on Business Insider.....»»

Source:  nytCategory: personnel~30 min. ago Related News

Payments firm PayPal to lay off 7% of its workforce to cut costs

PayPal will lay off 7% of its workforce as it prepares to weather the coming economic storm. Its online retail payment processing volume has fallen sharply as wallets get tighter......»»

Source:  foxnewsCategory: top~58 min. ago Related News

LARRY KUDLOW: Cut spending, taxes and regulations in order to generate a big recovery

FOX Business host Larry Kudlow reveals how the United States can generate economic growth as many Americans live paycheck-to-paycheck on "Kudlow.".....»»

Source:  foxnewsCategory: top~58 min. ago Related News

3,000 Flight Disruptions Hit US As Ice Storm Sweeps Southern States

3,000 Flight Disruptions Hit US As Ice Storm Sweeps Southern States Winter storm warnings and weather advisories stretched from the US Southwest to the Southeast on Tuesday as snow, sleet, and freezing rain canceled and or delayed at least 3,000 flights.  According to FlightAware's flight tracking website, 1,300 flights had been canceled, and an additional 2,000 were delayed as of Tuesday morning.  Dallas-Fort Worth International, Austin-Bergstrom International, and Dallas Love Field were three Texas airports experiencing the most flight disruptions as an ice storm slammed the state. Cancellations and delays were also seen across the country.  The National Weather Service in Fort Worth said a winter storm warning was in effect in north and western central Texas until Wednesday afternoon.  On Monday, Texas Gov. Greg Abbott directed the state's Division of Emergency Management to prepare for adverse weather conditions.  "The State of Texas is working tirelessly to ensure Texans and their communities have the resources, assistance, and support needed to respond to winter weather impacts across the state," Gov. Abbott said in a press release. The ice storm will also impact Arkansas, Mississippi, and Tennessee through Wednesday. NWS Memphis said areas could expect ice accumulations of a quarter to one-half inch or more.  After a mild January, a blast of cold air is pouring into the Midwest through this weekend.  A cold shot is expected for the Mid-Atlantic region, but temperatures could return to average levels by Sunday or early next week.  The Northeast will also see a brief chill.  On Thursday, Punxsutawney Phil will come out of his burrow in the ground and let the US know if an early spring is ahead or six more weeks of winter.  Tyler Durden Tue, 01/31/2023 - 18:40.....»»

Source:  nytCategory: deals~1 hr. 14 min. ago Related News

Iran, Russia Integrate Banking Systems To Bypass Sanctions

Iran, Russia Integrate Banking Systems To Bypass Sanctions Via The Cradle, A top Iranian official announced this week that Iran and Russia had integrated their interbank communication and transfer systems to help enhance trade and financial operations in an effort to bypass strict economic sanctions on their financial infrastructure. With the signing of the agreement, 52 Iranian and 106 Russian banks are connected through the Russian Financial Message Transfer System, which will facilitate economic relations between the two countries, said Deputy Governor of the Central Bank of Iran Mohsen Karimi. "This system is immune to sanctions as it is based on the infrastructures of both countries," Karimi said, according to Iran’s Mehr news agency. The global consortium SWIFT, the world leader in secure financial messaging services, excluded Iranian banks from its system following the reimposition of economic sanctions by the United States on Iran in 2018. As a result of that suspension of services, the Iranian banking system is disconnected from the international one, making banking transactions with other countries difficult. Russia was partially excluded from SWIFT last year due to its invasion of Ukraine. While economic relations between the two countries have grown to 4 billion in recent years, Tehran has sold drones to Russia, which it has used in its invasion of Ukraine. Official trips between the two countries have also multiplied in recent months, with Iranian President Ebrahim Raisi visiting Russia in January 2022 and Iranian Foreign Minister Hosein Amir Abdolahian making two trips to the Russian capital in less than a year. "In today’s world, a country’s status is largely related to its economic power … We need economic growth to maintain our regional and global position," Iran’s top authority, Supreme Leader Ali Khamenei, said in a televised speech. Additionally, deputy governor of Iran's Central Bank, Mohsen Karimi, announced: "Iranian banks no longer need to use SWIFT... with Russian banks, which can be for the opening of Letters of Credit and transfers or warranties." Tyler Durden Tue, 01/31/2023 - 19:00.....»»

Source:  nytCategory: deals~1 hr. 14 min. ago Related News

After Surge In Auto Thefts, Seattle Sues Hyundai And Kia For Failing To Install Anti-Theft Technology

After Surge In Auto Thefts, Seattle Sues Hyundai And Kia For Failing To Install Anti-Theft Technology The "blame everyone but the criminals" strategy being employed in most major U.S. cities - and contributing to the increase in crime while emboldening future criminals - doesn't show signs of stopping anytime soon.  Case in point? The auto thefts in Seattle have gotten so bad that city attorneys in the liberal-run utopia are hilariously suing the manufacturers of Hyundai and Kia for failing to install anti-theft technology on their vehicles. Talk about missing the point. As Axios pointed out, auto thefts across the country have been on a surge over the last few years. In Seattle, Hyundai and Kia thefts were 620% higher than other auto brands. Perhaps this is what has motivated Seattle City Attorney Ann Davison to sue the manufacturers.  Most thefts have taken place in Northgate, Capitol Hill, Central District and Beacon Hill, the report says. "The city is seeking unspecified damages and asking the car manufacturers to fix the problem," Axios wrote.  The suit claims that "Hyundai and Kia failed to use immobilizer technology that ensured car ignitions could not be started without their keys long after other carmakers had adopted the same technology". This made the two brands of vehicles "easier to steal", the report says. It also blames YouTube videos that "showed how to steal car models simply by removing a plastic piece under the steering wheel and using a USB cord and turning it like a key".  This, of course, takes the focus away from the rise in criminals attempting to get into property that isn't theirs to begin with. Perhaps someone should inform that the first thing someone needs to do to steal a car, is break and enter into property that isn't theirs. Maybe that'll help realign expectations before this suit is hastily thrown out of court.  Hyundai rightfully dismissed the lawsuit as "improper and unnecessary", telling Axios that "Hyundai Motor America has made engine immobilizers standard on all vehicles produced as of November 2021." They also said that "Owners of past models can also bring their vehicles to a local Hyundai dealer for the purchase and installation of a customized security kit..." And, of course, this is why we expect the exodus from cities like Seattle, and those of its ilk, to continue.  Tyler Durden Tue, 01/31/2023 - 19:20.....»»

Source:  nytCategory: deals~1 hr. 14 min. ago Related News

The Inconvenient Truth About Solyndra

The Inconvenient Truth About Solyndra Authored by David Hill & Jeffrey Kupfer via RealClear Wire, When Republicans in Washington talk about energy policy, one word often comes up: Solyndra.  Before the recent elections, headlines blared about this defaulted government loan guarantee – “Republicans look for the next Solyndra.”   With Republicans now controlling the U.S. House of Representatives, should they actually “look for the next Solyndra”?  What are the real lessons from it for both Congressional Republicans and the Biden Administration?   We believe there are lessons, and here’s what they are: (1) rigorous underwriting and continual oversight are necessary for government financial support programs – and that’s particularly important now, with billions of dollars in spending newly authorized by the Inflation Reduction Act; (2) loan guarantee decisions must be made solely on technological and financial merit – not politics; (3)  defaults may happen with the DOE loan guarantee program – its whole purpose is to take risk.  But that never excuses imprudent or politically-motivated risk-taking. We served as senior officials at the U.S. Department of Energy (DOE) in the George W. Bush Administration, including after Congress authorized the DOE loan guarantee program for innovative energy projects in 2005.  We helped write the program’s regulations and stand up the loan programs office (LPO).  We were there when DOE started considering Solyndra’s loan guarantee application – though not when DOE approved and issued the guarantee in 2009. Solyndra, a California solar panel manufacturing company, had requested a loan guarantee for more than $500 million.  Near the end of the Bush Administration, the DOE credit committee, which we had created and which consisted entirely of career officials empowered to do a thorough, nonpartisan review of projects, concluded the Solyndra application was, in essence, not ready for prime time.   Despite the pressure DOE was under to issue a loan guarantee, our boss, Energy Secretary Samuel Bodman never even considered overruling that committee.  As a result, the Bush Administration did not issue a loan guarantee to Solyndra – or anyone else.  In 2009 however, the American Recovery and Reinvestment Act armed the loan guarantee program with millions in taxpayer dollars and the new Administration wanted to show it could do what the former one hadn’t.  Late that year DOE issued Solyndra a $530 million loan guarantee.  President Barack Obama even visited the company to tout the program. It took Solyndra only 24 months to burn through the DOE money and declare bankruptcy.  The federal government took a massive financial loss.   Critics argue Solyndra demonstrates all the worst things about government action and federal financial support.  They point out the huge financial cost to taxpayers.  They cite the political pressure from the highest levels of government.  They point to DOE’s legally questionable and ultimately unsuccessful actions to save the project from default and the Obama Administration from embarrassment.   The program’s defenders say sometimes things just go wrong and projects default – it happens in the private sector too.  They say the loan guarantee program was created to take risks; and even so, it regularly turns a profit and has a good overall loss experience.  They argue Solyndra officials weren’t truthful and that the current LPO office is better staffed and more diligent.    So who’s right? The DOE loan guarantee program was created to advance innovative technologies, enable new types of energy projects, and improve environmental performance.  It was to do that for projects the private financial sector might not be willing or able to support. With such a program, it is inevitable some projects won’t perform as well as expected.  Technology also may develop in unpredictable ways, and economic, market or political trends may unexpectedly change.  Defaults may happen, even with a perfectly run program. That said, the purpose of the DOE program is NOT to take risks only a sucker would take.  Political motivations or insufficient diligence can lead to imprudent risk-taking.  To avoid that, rigorous and transparent underwriting and oversight are important – particularly right now.  A loan guarantee default that costs taxpayers hundreds of millions of dollars is never a good thing and can never just be waived off.  DOE must ensure that if defaults happen, they are not because the underwriting process was short-circuited, program standards were compromised to score political points, special interests were favored, or DOE had focused on financing marquis “signature” projects to score political points.      The country is undergoing an energy transition; accelerating new types of clean energy projects is an important part of that effort.  With unprecedented resources and a broad mandate, the DOE loan guarantee program can play a critical role.  However, that will only happen if DOE applies careful scrutiny, proceeds with transparency and without political favoritism, and ensures only high quality projects receive guarantees.  And both DOE and Congress must conduct vigorous oversight.  Failure to do all of these things jeopardizes the loan guarantee program and the clean energy transition itself. David Hill is a former general counsel of the Department of Energy and an adjunct senior research scholar at the Columbia University's Center on Global Energy Policy; Jeffrey Kupfer is a former acting Deputy Secretary of the Department of Energy, an adjunct professor at Carnegie Mellon University’s Heinz School and the president of ConservAmerica. Tyler Durden Tue, 01/31/2023 - 19:40.....»»

Source:  nytCategory: deals~1 hr. 14 min. ago Related News

"We Found No Misuse Of US Funds In Ukraine", US Treasury Says (With Straight Face)

'We Found No Misuse Of US Funds In Ukraine', US Treasury Says (With Straight Face) And now for some Tuesday humor, brought to you by the US Treasury Department, which sees no indication whatsoever that US funds have been misused in Ukraine, following last week's massive political shake-up wherein some dozen top Ukrainian officials were booted from their posts amid persistent corruption allegations.  "We have no indication that U.S. funds have been misused in Ukraine," Treasury spokesperson Megan Apper said in Treasury's first comments since the 'shock' resignations.  In the official statement given to Reuters, the US government also hailed the supposed "safeguards" which the Ukrainians have put in place, though without actually specifying any: "We welcome the ongoing efforts by the Ukrainian authorities to work with us to ensure appropriate safeguards are in place so that U.S assistance reaches those for whom it is intended," Apper said. Via Reuters The statement fails to detail precisely how US authorities are tracking disbursement of the some tens of billions in funds that go from American Joe taxpayer, and into the pockets of the Zelensky government to dole out (other than referencing a digital system which supposedly monitors funds)... Apper said the Treasury would continue to work closely with the World Bank on tracking U.S. disbursements "to confirm that they are used as intended, as well as with Ukraine and other partners to tackle corruption." Apparently totally unaware of the extreme irony, Reuters chooses to add the following facts for some further context and color to its report... and it's perhaps all you need to know:  "Ukraine ranks 116 out of 180 countries on the annual Corruption Perceptions Index released Tuesday by Transparency International, up one ranking from last year. "Its score on the index was 33 on a scale of 0-100, where 0 means highly corrupt and 100 means very clean." (...and note that Treasury Dept's statement was issued on very day that the new corruption rankings came out... the "rise" on the index means Ukraine is supposedly ever-so-slightly less corrupt.) But again, don't worry - nothing to see here - the US Treasury is assuring that when it comes to the well over $100 billion in defense and other foreign aid pledged as well as the many billions distributed so far, Ukraine is "very clean".  See our viral report from last week for a review of the high-ranking Ukrainian officials who were forced to resign--Ukraine Rocked By Corruption Scandal, Wave Of Top Officials Resign: Sports Cars, Mansions & Luxury Vacations As People Suffered. As but one example, no less than the #2 defense minister was brought down. He had a direct hand in handling some of the very billions in US aid which the Treasury is now claiming was never misused. As we pointed out earlier... According to AFP, "the defense ministry had earlier announced the resignation of deputy minister Vyacheslav Shapovalov, who was in charge of the army's logistical support, on the heels of accusations it was signing food contracts at inflated prices."  "Ukrainian safeguards" pic.twitter.com/5evt1sgBuV — Marmot XI (@MarmotXi) January 31, 2023 In the case regarding the food contracts, Shapovalov is accused of signing a deal with an unknown, shady firm. In his role as deputy defense minister, his is the most notable and visible resignation. Crucially he had no small part in overseeing the billions of dollars flowing from the pockets of US and European taxpayers as authorized defense aid. Zelensky staff can be seen wearing Rolexes while in field uniforms. Just sayin. pic.twitter.com/vW87JdAMPw — UncleBuck_10k (@UncleBuck_10k) January 31, 2023 Tyler Durden Tue, 01/31/2023 - 20:00.....»»

Source:  nytCategory: deals~1 hr. 14 min. ago Related News

: Clean-energy investing is poised to top the money backing oil and gas after hitting a record $1 trillion

Investment in clean-energy technologies is on the brink of overtaking fossil-fuel spending, and won’t look back, say researchers at BloombergNEF......»»

Source:  marketwatchCategory: top~1 hr. 14 min. ago Related News

: Paramount’s stock closes best month since April 2009

Paramount Global Inc. shares closed their best month in nearly 14 years, shrugging off a recent downgrade that threatened to keep them from the milestone......»»

Source:  marketwatchCategory: top~1 hr. 14 min. ago Related News

Earnings Results: Electronic Arts stock plunges more than 10% as mobile versions of popular games shelved amid cuts

Electronic Arts Inc. disappointed investors with holiday sales and earnings Tuesday, and executives moved a big game launch to next fiscal year......»»

Source:  marketwatchCategory: top~1 hr. 14 min. ago Related News

Elton John’s farewell tour sets record as highest-grossing of all time with nearly $820 million

Elton John set the record for the highest-grossing concert tour of all time. The "Tiny Dancer" singer's "Farewell Yellow Brick Tour" has grossed $819.7 million to date......»»

Source:  foxnewsCategory: top~1 hr. 30 min. ago Related News

Illinois Sen. Dick Durbin calls for DOJ investigation into Twitter"s handling of child sexual exploitation

Senate Majority Whip Dick Durbin, D-Ill., is calling on the Justice Department to investigate Twitter for allegedly failing to address child sexual exploitation material......»»

Source:  foxnewsCategory: top~1 hr. 30 min. ago Related News

Exclusive: Tampa insurtech startup acquires UPC Insurance"s Florida policies

The deal will go into effect Feb. 1, preventing widespread cancellations of UPC's remaining policies in Florida......»»

Source:  bizjournalsCategory: top~1 hr. 30 min. ago Related News

New food hall, Stix Asia, opens in Waikiki

The new dining destination with 17 curated restaurants and eateries featuring food from Japan, Taiwan, China, Korea and Singapore celebrates its grand opening on Feb. 4......»»

Source:  bizjournalsCategory: top~1 hr. 30 min. ago Related News

Health, wellness, fitness center to open in former Bessemer car dealership

The building is over 13,000 square feet and will be curated for several community uses......»»

Source:  bizjournalsCategory: top~1 hr. 30 min. ago Related News

Visit Philadelphia, Convention and Visitors Bureau launch $6.5M joint advertising blitz ahead of 2026

"Come For Philadelphia. Stay For Philly." focuses on increasing all three segments of travel — leisure, business and group — by telling tourists to visit the city for its well-known sights and experiences and challenging them to stay for the unique aspects they discover while they're in town......»»

Source:  bizjournalsCategory: top~1 hr. 30 min. ago Related News

BrightView acquires third Hawaii landscaping company

The nation's largest commercial landscaper acquired SGS Hawaii and Performance Landscapes in 2022......»»

Source:  bizjournalsCategory: top~1 hr. 30 min. ago Related News

Bill Schonely Celebration of Life set for March 13

The beloved Blazers announcer died Jan. 21 at the age of 93......»»

Source:  bizjournalsCategory: top~1 hr. 30 min. ago Related News

Maryknoll School to begin $3M renovation on new performing arts center

“This is a dream come true for our students, faculty and staff at Maryknoll School,” President Shana Tong said in a statement......»»

Source:  bizjournalsCategory: top~1 hr. 30 min. ago Related News

Sunport officials to solicit proposals for concessions, retail options

The timing of the request for proposals for concessions and retail spaces is still in flux, as is the specific number of spaces......»»

Source:  bizjournalsCategory: top~1 hr. 30 min. ago Related News

Retraction: BAYC Founder Opinion Piece

Retraction: BAYC Founder Opinion Piece.....»»

Source:  coindeskCategory: forex~1 hr. 42 min. ago Related News

Social Token Project Rally Shuts Ethereum Sidechain, Stranding Users’ Crypto Assets

Rally blamed its sidechain’s demise on macro forces......»»

Source:  coindeskCategory: forex~1 hr. 42 min. ago Related News

Crypto Bank Silvergate Shares Move Higher After BlackRock Boosts Stake

The troubled crypto bank gained nearly 10% in Tuesday's session......»»

Source:  coindeskCategory: forex~1 hr. 42 min. ago Related News

Ethereum Developers to Launch New Testnet ‘Zhejiang’ for Simulating ETH Withdrawals

Users will be able to get a sense of how staked ETH withdrawals will work from a testnet due to go fully live on Feb. 7......»»

Source:  coindeskCategory: forex~1 hr. 42 min. ago Related News

Crypto Markets Today: Fed Preview, Bitcoin Holds Steady at $22.9K

Also: Metaverse tokens surged in January. Equities close higher......»»

Source:  coindeskCategory: forex~1 hr. 42 min. ago Related News

UK Finance Ministry to Propose Broad Rules for Crypto, Invites Industry Feedback

The Treasury also gave crypto companies a time limited exemption to approve their own crypto promotions until more regulation comes......»»

Source:  coindeskCategory: forex~1 hr. 42 min. ago Related News

Crypto Market January Roundup: Aptos, Metaverse-Affiliated Tokens Lead Broad-Based Rally

Layer 1 blockchain Aptos’ native token has surged over 387% this month, leading all cryptocurrencies for gains and dwarfing bitcoin and ether’s performance. Solana’s SOL token also rises......»»

Source:  coindeskCategory: forex~1 hr. 42 min. ago Related News

ImmutableX to Launch All-In-One Passport System to Onboard New Gamers Into Web3

The new tool, scheduled to launch in April 2023, will act as a non-custodial wallet, gamer profile and authentication solution for Web3 gamers......»»

Source:  coindeskCategory: forex~1 hr. 42 min. ago Related News
Source:  benzingaCategory: blog~1 hr. 42 min. ago Related News

Cannabis Around The World, MMJ In Malaysia, Green Light In Laos, Cannabis Pilot In Switzerland

Malaysia’s government is looking at using cannabis for medical purposes, although the issue is how to grow it in controlled environments, reported regional media. read more.....»»

Source:  benzingaCategory: blog~1 hr. 42 min. ago Related News

Pushing Rivalry Aside: Elon Musk And Jeff Bezos Agree On How Good This Streaming Show Is

A rivalry between two of the richest people in the world has escalated over the years due to their respective space companies. read more.....»»

Source:  benzingaCategory: blog~1 hr. 42 min. ago Related News

Why Super Micro Computer Stock Is Trading Down After Hours

Super Micro Computer Inc (NASDAQ: SMCI) shares are trading significantly lower after hours Tuesday after the company reported fiscal second-quarter results and issued third-quarter guidance at the low end or below analyst expectations. read more.....»»

Source:  benzingaCategory: blog~1 hr. 42 min. ago Related News

Cannabis Real Estate? Meet Green Life Business" Drew Mathews, He Knows All About It

After the overwhelming success of last year's 4/20 business event, the Benzinga Cannabis Capital Conference is returning to Miami beach April 11-12, 2023 with events simultaneously taking place on two stages at Miami B read more.....»»

Source:  benzingaCategory: blog~1 hr. 42 min. ago Related News

A New Tesla Factory Could Be Coming To Mexico City

Tesla Inc (NASDAQ: TSLA) has been on a roll the past few years opening new factories in China, read more.....»»

Source:  benzingaCategory: blog~1 hr. 42 min. ago Related News

: Super Micro stock falls after weaker sales guidance for fiscal Q3

Shares of Super Micro Computer Inc. SMCI fell more than 10% in the extended session Tuesday after the IT company reported fiscal second-quarter earnings above Wall Street expectations but called for softer current-quarter sales. The company, which does business as Supermicro, earned $176 million, or $3.14 a share, in the quarter, compared with $42 million, or 78 cents a share, in the same quarter of last year. Adjusted for one-time items, the company earned $3.26 a share. Revenue rose to $1.80 billion from $1.17 billion a year ago. “We continue to lead the market with the best designs and best-in-class total IT solutions,” Chief Executive Charles Liang said. “In fact, the structural shifts in the end markets favor our solution strategy.” Super Micro guided for fiscal 2023 sales between $6.5 billion and $7.5 billion, and adjusted per-share earnings between $9.00 and $11.30. That compares with FactSet consensus of adjusted EPS of $10.49 on sales of $6.9 billion for the year. For the fiscal third quarter, the company expects net sales between $1.42 billion and $1.52 billion, and adjusted EPS between $1.88 and $2.14. The FactSet expectations call for adjusted EPS of $2.12 on sales of $1.6 billion. Shares of Super Micro ended the regular trading day up 0.3%.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news......»»

Source:  marketwatchCategory: top~1 hr. 42 min. ago Related News

: Visa’s arrangement with PayPal has sparked DOJ interest: report

Visa Inc. V is facing scrutiny from the Department of Justice over an arrangement with PayPal Holdings Inc. PYPL that was struck years ago, Bloomberg Law reported earlier Tuesday. In the early days following PayPal’s spinoff from eBay Inc. EBAY, the digital-payments company preferred that users paid with their bank accounts rather than with credit or debit cards because of the fees associated with card payments, but PayPal ultimately struck partnerships with the networks that meant it wouldn’t steer customers toward account-funded methods. The Bloomberg report, which cites unnamed sources, said that the DOJ is looking into Visa’s version of the arrangement with PayPal as part of a deeper antitrust examination. Visa didn’t immediately respond to a MarketWatch request for comment. Shares of Visa ended Tuesday’s session up 0.5%.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news......»»

Source:  marketwatchCategory: top~1 hr. 42 min. ago Related News

Apple executives including Tim Cook may have violated workers" rights, according to the national labor board

A companywide email sent by Apple CEO Tim Cook in 2021 may have violated federal law, according to The National Labor Relations Board. Concerns about whether an email sent by Tim Cook in 2021 was legal have merit, according to the federal agency charged with protecting private sector workers.Apple A federal agency said it found evidence that Apple executives and company policy broke labor laws.  The decision stems from cases filed by former employees who say Apple violated their rights.  The NLRB will prosecute if Apple doesn't settle with former employees who have raised complaints. A companywide email sent by Apple CEO Tim Cook in 2021 may have violated federal law, according to The National Labor Relations Board. In the email, Cook reportedly wrote that "people who leak confidential information do not belong here" and that Apple didn't "tolerate disclosures of confidential information, whether it's product IP or the details of a confidential meeting." The federal agency confirmed to Insider that it found merit that charges concerning statements by high-level executives at Apple, as well as company policies, violated the National Labor Relations Act.A merit ruling means the agency has investigated complaints and found sufficient evidence to support them. The NLRB also said some of Apple's company policies tended to "interfere with, restrain, or coerce employees in the exercise of their right to protected concerted activity," meaning the right to address work-related issues with coworkers.  According to Bloomberg, the federal agency's assessment stemmed from cases brought by two former Apple employees, Ashley Gjovik and Cher Scarlett. In an email to Insider, Gjovik asserted that Apple's NDAs and policies about confidentiality and talking to the press "coercively silence Apple employees and chill them from engaging in protected activity through over-broad and vague terms, as well as through an implication of constant surveillance." Scarlett, who brought a separate complaint to the NLRB, told Insider, "Apple's culture of secrecy encourages a toxic workplace that suppresses workers from organizing." Since the NLRB, a federal agency that protects the rights of private sector employees, found merit to these former employees' complaints, its next step is to prosecute those charges if Apple doesn't first settle with former employees who raised the objections. Apple did not respond to Insider's request for comment. Read the original article on Business Insider.....»»

Source:  nytCategory: deals~2 hr. 14 min. ago Related News

Trump repeated "same answer" over and over while pleading the 5th Amendment in NY fraud deposition, new footage shows

Trump repeatedly invoked the 5th Amendment despite previously questioning why an innocent person would invoke the right against self-incrimination. Former President Donald Trump sits for August 10 deposition.Insider Video footage obtained by Insider shows Trump being deposed in the NY AG's investigation into his business. Trump repeatedly invoked the 5th Amendment and declined to answer questions. Trump previously questioned why an innocent person would plead the 5th. Former President Donald Trump repeatedly invoked the Fifth Amendment when he was deposed last summer as part of New York Attorney General Letitia James' investigation into his business practices, according to footage obtained by Insider on Tuesday."This is the greatest witch hunt in the history of our country," Trump began in his seven-minute opening statement on August 10. "There has never been another president, or perhaps even another politician, who has been persecuted, harassed, and in every other way, unfairly treated like President Donald J. Trump.""Anyone in my position not taking the Fifth Amendment would be a fool, an absolute fool," he said."The United States Constitution exists for this very purpose," Trump said. "And I would utilize it to the fullest extent and defend myself against this malicious attack by this administration, this attorney general's office, and all other attacks on my family, my business and our country."Trump concluded his remarks by saying he "respectfully" declined to answer questions as he sat under oath. "For all other reasons provided in my answer, which is incorporated herein in its entirety, I decline to answer the question," the former president said as questioning began, a phrase he repeated twice more before transitioning to the shorter response: "Same answer."Trump said "same answer" over and over again as he was pressed about the Trump Organization's business dealings, asked about its top executives, and presented with financial documents.At times, Trump appeared tired of the deposition, leaning back in his chair and crossing his arms. He announced last year that he had invoked the 5th Amendment in James' investigation. The August statement was particularly noteworthy given Trump's previous suggestion that only guilty people invoke the constitutional right against self-incrimination."You see the mob takes the Fifth," he said in April 2018. "If you're innocent, why are you taking the Fifth Amendment?"Trump addressed his change of heart about invoking the 5th Amendment in his statement last August."I once asked, 'If you're innocent, why are you taking the Fifth Amendment?'" he said. "Now I know the answer to that question. When your family, your company, and all the people in your orbit have become the targets of an unfounded, politically motivated Witch Hunt supported by lawyers, prosecutors, and the Fake News Media, you have no choice."James' investigation into the Trump Organization culminated in a massive fraud lawsuit in September against the former president, his three eldest children, and his business.James is seeking to permanently bar the Trumps from conducting business in New York and pursuing $250 million in penalties. The state attorney general's office is also seeking the appointment of an independent monitor to "oversee compliance, financial reporting, valuations, and disclosures to lenders, insurers, and tax authorities at the Trump Organization" for at least five years.James said Trump "falsely inflated his net worth by billions of dollars to further enrich himself and cheat the system" and "repeatedly and persistently manipulated the value of assets to induce banks to lend money to the Trump Organization.""Claiming to have money that you do not have does not amount to the art of the deal," James said, referencing the title of Trump's 1987 memoir and business-advice book. "It's the art of the steal."Read the original article on Business Insider.....»»

Source:  nytCategory: deals~2 hr. 14 min. ago Related News

Rare battlefield footage shows how Ukraine"s upgraded Soviet-era tanks are outperforming Russia"s upgraded Soviet-era tanks

The 2,800 "combat-ready tanks" in Russia's invasion force vastly outnumbered Ukraine's total of about 900 tanks, a recent think tank report said. A Ukrainian tank in Siversk near the front lines with Russia on January 21.Spencer Platt/Getty Images When Russia attacked Ukraine in February 2022, their militaries operated many of the same tanks. Ukraine upgraded many of its tanks before the war, but Russia also had newer, higher-quality tanks. As the war approaches its one-year mark, several countries have pledge to give Ukraine new tanks. A rare video from the frontlines shows one of Ukraine's upgraded Soviet-era tanks outperforming one of its newer Russian adversaries.In the footage, published online in December, a Ukrainian T-64BV and a Russian T-72B3 tank fought a deadly duel in the east of the country. Despite being older, the Ukrainian armor took out its Russian adversary with a single long-distance shot.A Ukrainian drone recorded the fight. On the outskirts of a destroyed town, the Ukrainian tank is advances down a road, straight toward the Russian tank.—Rob Lee (@RALee85) December 11, 2022Without stopping, the Ukrainian tank fires a round at its adversary. After a direct hit, the Russian T-72B3 explodes.In technical terms, the tanks Russia has deployed are often newer and more advanced than the Ukrainian tanks they're facing, but the victory of the Ukrainian crew is a testament not only to the quality of their training but to the skill of their engineers and mechanics, who upgraded many of the older, Soviet-designed models into the tanks Ukraine is now fielding.Update or buy new?A tank turret is repaired at the Kyiv Panzer factory in August 2015.NurPhoto/NurPhoto via Getty ImagesAs Kyiv sought to modernize its military following Russia's 2014 attack, it had to decide between purchasing a battalion of new armor — about 50 tanks — or modernizing as many as four battalions of older tanks, which could be done for the same price, according to a Royal United Services Institute report on the first several months of the war.It chose the latter and updated part of its T-64 and T-72 fleets. The modernization packages included digital radios, internal communications, navigation systems, thermal sights, and modified dynamic protection, among other upgrades. Since then, the West has helped Ukraine modernize more of its aging Soviet-era tanks.When the war began, however, the 2,800 "combat-ready tanks" in Russia's invasion force vastly outnumbered the Ukraine military's total of about 900 tanks, according to the report.Ukrainian troops perform maintenance on tanks near the frontline in Donbas on January 18.Diego Herrera Carcedo/Anadolu Agency via Getty ImagesMany of the tanks in those two forces were the same models and had similar vulnerabilities — one of which was demonstrated vividly in the early months of the war.Soviet- and Russian-made tanks are designed for a crew of three — driver, gunner, and commander. Instead of a loader they have an automated loading system, which stores ammunition in the turret.With limited protection in the turret and rounds stored elsewhere in the tank, enemy fire can more easily detonate the tank's ammunition, causing a "jack-in-the-box" effect that sends the turret flying sky-high.Western tanks are designed with a sealed ammunition storage space and have fourth crew member who loads rounds into the gun.More victories, better weaponsUkrainian troops inspect a destroyed Russian tank near Kupiansk in the Kharkiv region in December.SERGEY BOBOK/AFP via Getty ImagesUkraine's requests for newer, more advanced Western-made tanks to replace its older, Soviet-era tanks — some of them older than the troops using them — are longstanding, but before the war, there were financial and logistical limits on the kinds of weapons Ukraine could acquire.When the war began, pressure from Russia led Kyiv and its supporters to focus on weapons that were familiar to Ukrainian troops and could be used right away, such as Soviet-origin Mi-17 helicopters and T-72 tanks, or that would be easier to integrate, such as M113 armored personnel carriers, older air-defense systems, and low-tech drones.But in late summer and the fall, Ukraine took the initiative, forcing Russian troops into retreat. The battlefield has largely stabilized, and Ukraine can now afford to send some troops to train for more complicated operations using more complex weapons.Ukrainian troops this month began training for combined-arms operations — which require coordination between aircraft, ground troops, artillery, and armored forces — and have begun or will soon begin training on other weapons, including the US-made Patriot air-defense system and Western armored vehicles.A Bradley armored vehicle headed to Ukraine is loaded onto a ship in North Charleston, South Carolina on January 25.US Transportation Command/Oz SuguitanUS-made Abrams, German-designed Leopards, and British-built Challenger 2 tanks are some of the more than 300 heavy tanks that have been promised to Ukraine in recent weeks.Despite growing arguments about the relevance of tanks on modern battlefields, both Russia and Ukraine have employed tanks effectively and routinely rely on tanks to break their adversary's defenses, even with the proliferation of anti-tank weapons.Ukraine claims to have destroyed or captured more than 3,000 Russian tanks, though Oryx, an open-source investigation outlet, has only visually verified about 1,600 of those.As of January 25, the US has committed more than $27.1 billion in security assistance to Ukraine since Russia attacked on February 24, 2022 — a total of less than 5% of the US defense budget that has helped destroy thousands of Russian tanks, armored vehicles, and artillery pieces.Stavros Atlamazoglou is a defense journalist specializing in special operations, a Hellenic Army veteran (national service with the 575th Marine Battalion and Army HQ), and a Johns Hopkins University graduate. He is working toward a master's degree in strategy and cybersecurity at Johns Hopkins' School of Advanced International Studies.Read the original article on Business Insider.....»»

Source:  nytCategory: deals~2 hr. 14 min. ago Related News

SpaceX launches 49 Starlink satellites into low-Earth orbit

Elon Musk's aerospace company SpaceX successfully launched 49 Starlink satellites and another orbital transfer vehicle into low-Earth orbit on Tuesday morning......»»

Source:  foxnewsCategory: top~2 hr. 14 min. ago Related News

SEC"s Hester Peirce urges Congress to enact crypto regulations: Clarity could be provided on many questions

SEC commissioner Hester Peirce discussed the need for Washington lawmakers to establish rules and a regulatory framework for the cryptocurrency space......»»

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More Americans live paycheck to paycheck

A larger proportion of Americans are now living paycheck to paycheck, a report that LendingClub and PYMNTS released on Monday found......»»

Source:  foxnewsCategory: top~2 hr. 14 min. ago Related News

Mixed-used office and retail building sells in Streeterville

The five-story mixed-use property includes nearly 29,000 square feet of rentable retail and office space......»»

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NXTsoft merges with OceanSound Partners portfolio company

It's a new chapter for the locally founded company......»»

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Proposal to dip into rural land for semiconductor growth runs into fierce opposition

Oregon's efforts to lure semiconductor investments are complicated by a lack of available sites......»»

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Oregon lawmakers seek to tighten rent control cap

The proposal comes after Oregon passed statewide rent control in 2019......»»

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Sandia Area Federal Credit Union names new chief financial officer

Sandia Area Federal Credit Union announced on Tuesday it has hired a new chief financial officer to take the place of Kevin Todd, who moved into the CEO role at the end of 2022......»»

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Point Park University names interim president

The Point Park University Board of Trustees elected Chris W. Brussalis to serve as interim president following the departure of President Don Green. Brussalis currently serves as chairman of The Hill Group Inc., a national management consulting firm, and is an adjunct professor of management and policy at the Heinz College of Carnegie Mellon University. Brussalis has taught at the graduate level, provided advice and counsel to numerous colleges and universities, and served in higher education executive….....»»

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Mountain View mental health startup Mindstrong is ending its patient care services

Mental health app provider Mindstrong Inc. told users Tuesday it will cease offering its patient care services in March. In an email to clients, the Menlo Park startup advised them to find another clinician before March 10, because some of its staff may cease offering their services before then. Mindstrong providers will reach out to patients who are actively under their care to make transition arrangements, the company said in the email. "We're writing to inform you that the Mindstrong Health….....»»

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Sarasota"s New College terminates president after state-driven shakeups

Richard Corcoran, the former education commissioner, is slated to take over as interim president following an overhaul led by the state......»»

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Why American Airlines is becoming less reliant on contracted corporate travel

American Airlines Chief Commercial Officer Vasu Raja said contracted corporate travel seems to be permanently impaired, with revenue at about 75% of its pre-pandemic level. But he sees an opportunity as blended travel continues to grow......»»

Source:  bizjournalsCategory: top~2 hr. 14 min. ago Related News

Real estate giant"s affiliate to acquire St. Louis-area broadband provider

The acquisition comes as the local internet service provider seeks to expand its footprint beyond St. Louis......»»

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Quant Ratings Updated on 105 Stocks

InvestorPlace - Stock Market News, Stock Advice & Trading Tips Today, I want us to focus on my latest Portfolio Grader upgrades and downgrades. Not surprisingly, Portfolio Grader ratings are shifting as quarterly results are released, as institutional buying pressure and analysts’ earnings revisions can impact a stock’s total grade. The post Quant Ratings Updated on 105 Stocks appeared first on InvestorPlace......»»

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Why Is C3.ai (AI) Stock Up 20% Today?

InvestorPlace - Stock Market News, Stock Advice & Trading Tips C3.ai is gearing up for an important product launch. Here's what investors need to know about AI stock and why it is likely to keep rising. The post Why Is C3.ai (AI) Stock Up 20% Today? appeared first on InvestorPlace. More From InvestorPlace Buy This $5 Stock BEFORE This Apple Project Goes Live The Best $1 Investment You Can Make Today It doesn’t matter if you have $500 or $5 million. Do this now. Massive Bear Market “Divergence Event” Ahead… And The #1 Way to Play It.....»»

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5 Investors Betting Big on C3.ai (AI) Stock in 2023

InvestorPlace - Stock Market News, Stock Advice & Trading Tips C3.ai has announced the launch of its C3 Generative AI Product Suite that will have capabilities powered by OpenAI's ChatGPT. The post 5 Investors Betting Big on C3.ai (AI) Stock in 2023 appeared first on InvestorPlace. More From InvestorPlace Buy This $5 Stock BEFORE This Apple Project Goes Live The Best $1 Investment You Can Make Today It doesn’t matter if you have $500 or $5 million. Do this now. Massive Bear Market “Divergence Event” Ahead… And The #1 Way to Play It.....»»

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AMD, PTON, SPY Predictions: 3 Hot Stocks for Tomorrow

InvestorPlace - Stock Market News, Stock Advice & Trading Tips AMD, Peloton and the overall market are our three hot stocks for tomorrow as the Fed looks to raise interest rates once again. The post AMD, PTON, SPY Predictions: 3 Hot Stocks for Tomorrow appeared first on InvestorPlace. More From InvestorPlace Buy This $5 Stock BEFORE This Apple Project Goes Live The Best $1 Investment You Can Make Today It doesn’t matter if you have $500 or $5 million. Do this now. Massive Bear Market “Divergence Event” Ahead… And The #1 Way to Play It.....»»

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The 7 Best ‘Waste’ Stocks for Dumpster-Diving Investors

InvestorPlace - Stock Market News, Stock Advice & Trading Tips For creative investors, digging through the trash for compelling waste management stocks may yield surprising gains this year. The post The 7 Best ‘Waste’ Stocks for Dumpster-Diving Investors appeared first on InvestorPlace. More From InvestorPlace Buy This $5 Stock BEFORE This Apple Project Goes Live The Best $1 Investment You Can Make Today It doesn’t matter if you have $500 or $5 million. Do this now. Massive Bear Market “Divergence Event” Ahead… And The #1 Way to Play It.....»»

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7 Cryptos to Watch as the Bulls Look to Maintain Their Pace

InvestorPlace - Stock Market News, Stock Advice & Trading Tips Although cryptos enjoyed another remarkable week, moving forward, investors have difficult days ahead deciphering next moves. The post 7 Cryptos to Watch as the Bulls Look to Maintain Their Pace appeared first on InvestorPlace. More From InvestorPlace Buy This $5 Stock BEFORE This Apple Project Goes Live The Best $1 Investment You Can Make Today It doesn’t matter if you have $500 or $5 million. Do this now. Massive Bear Market “Divergence Event” Ahead… And The #1 Way to Play It.....»»

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Alphabet Q4 Preview: What"s on the Horizon?

Alphabet has struggled to exceed quarterly expectations as of late, falling short of earnings and revenue estimates in three consecutive quarters. Is this time different? It’s the most critical time for stocks – earnings season.Investors have been receiving a surplus of quarterly results daily for some time now, with companies finally providing much-needed updates.And, of course, this could easily be the most consequential week of the season, with many mega-cap tech titans slated to report.One such titan, Alphabet GOOGL, is on deck to reveal its quarterly results on February 2nd, after the market close.It raises a valid question: how does the company stack up? Let’s take a closer look.Cloud ComputingCloud computing has gained rapid traction among businesses, allowing many to achieve digital feats that otherwise felt impossible. Of course, Alphabet has that covered with its Google Cloud, a key line of business that’s been a solid growth driver for the company and will be monitored closely.For the quarter, our consensus estimate for Google Cloud revenue stands firm at $7.3 billion, suggesting an improvement of more than 32% year-over-year.In addition, it’s worth noting that Alphabet has exceeded our consensus Google Cloud revenue estimate in four of its last six quarters, posting a 2.8% beat in its latest release. The chart below illustrates this.Image Source: Zacks Investment ResearchAnother player in the cloud computing industry, Microsoft MSFT, has already reported its quarterly results. Microsoft’s Intelligent Cloud raked in $21.5 billion, exceeding our consensus estimate marginally and growing 18% year-over-year.AdvertisingIt’s no secret that the digital advertising market has been weak, as this is typically one of the first expenses companies cut when faced with a challenging macroeconomic backdrop.This was further confirmed in Alphabet’s latest release; GOOGL fell short of our consensus advertising revenue estimate by more than 7%.For the upcoming quarterly release, the Zacks Consensus Estimate resides at $59.9 billion, indicating a pullback of roughly 2% year-over-year. Further, GOOGL has fallen short of advertising revenue expectations in back-to-back releases.Image Source: Zacks Investment ResearchQuarterly EstimatesAnalysts have been bearish in their earnings outlook, with three negative earnings estimate revisions hitting the tape over the last several months. The Zacks Consensus EPS Estimate of $1.17 suggests a pullback of roughly 23.5% year-over-year.Image Source: Zacks Investment ResearchStill, the top line is in better shape; the Zacks Consensus Sales Estimate of $63.2 billion indicates a 2% climb from year-ago quarterly sales of $61.9 billion.Quarterly PerformanceAlphabet has struggled to exceed quarterly estimates as of late, falling short of earnings and revenue estimates in three consecutive quarters.In the company’s latest release, GOOGL fell short of earnings expectations by nearly 15% and reported sales 2% below expectations. Below is a chart illustrating the company’s revenue on a quarterly basis.Image Source: Zacks Investment ResearchValuationFollowing rough price action in 2022, Alphabet’s valuation multiples have returned to earth; currently, GOOGL shares trade at a 19.2X forward earnings multiple, well beneath the 26.2X five-year median.Image Source: Zacks Investment ResearchFurther, the company’s forward price-to-sales works out to be 5.1X, again beneath the 6.9X five-year median by a notable margin.Image Source: Zacks Investment ResearchPutting Everything TogetherA crucially important week of earnings season is led by big tech, with Alphabet on deck to reveal its quarterly results on February 2nd, after the market close.Investors will closely monitor the company’s cloud revenue, as it’s been a solid top line contributor as of recently. Microsoft MSFT, another player in the cloud computing space, posted results that exceeded our expectations marginally.In addition, Alphabet’s advertising revenue will also be closely monitored, as it’s well known that the digital advertising market has cooled off.Analysts have taken a bearish stance for the quarter to be reported, with estimates indicating a pullback in earnings and a slight uptick in revenue, a reflection of margin compression.Further, valuation multiples have pulled back extensively, with the company’s forward price-to-sales and forward earnings multiple residing below their respective five-year medians.Heading into the release, Alphabet GOOGL is a Zacks Rank #3 (Hold) with an Earnings ESP Score of -0.7%. Free Report Reveals How You Could Profit from the Growing Electric Vehicle Industry Globally, electric car sales continue their remarkable growth even after breaking records in 2021. High gas prices have fueled his demand, but so has evolving EV comfort, features and technology. So, the fervor for EVs will be around long after gas prices normalize. Not only are manufacturers seeing record-high profits, but producers of EV-related technology are raking in the dough as well. Do you know how to cash in?  If not, we have the perfect report for you – and it’s FREE! Today, don't miss your chance to download Zacks' top 5 stocks for the electric vehicle revolution at no cost and with no obligation.>>Send me my free report on the top 5 EV stocksWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Microsoft Corporation (MSFT): Free Stock Analysis Report Alphabet Inc. (GOOGL): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research.....»»

Source:  zacksCategory: top~2 hr. 30 min. ago Related News

Electronic Arts (EA) Lags Q3 Earnings and Revenue Estimates

Electronic Arts (EA) delivered earnings and revenue surprises of -11.15% and 6.16%, respectively, for the quarter ended December 2022. Do the numbers hold clues to what lies ahead for the stock? Electronic Arts (EA) came out with quarterly earnings of $2.71 per share, missing the Zacks Consensus Estimate of $3.05 per share. This compares to earnings of $3.17 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -11.15%. A quarter ago, it was expected that this video game maker would post earnings of $1.35 per share when it actually produced earnings of $1.28, delivering a surprise of -5.19%.Over the last four quarters, the company has surpassed consensus EPS estimates just once.Electronic Arts, which belongs to the Zacks Toys - Games - Hobbies industry, posted revenues of $2.34 billion for the quarter ended December 2022, missing the Zacks Consensus Estimate by 6.16%. This compares to year-ago revenues of $2.58 billion. The company has topped consensus revenue estimates just once over the last four quarters.The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.Electronic Arts shares have added about 5.6% since the beginning of the year versus the S&P 500's gain of 4.6%.What's Next for Electronic Arts?While Electronic Arts has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.Ahead of this earnings release, the estimate revisions trend for Electronic Arts: mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.It will be interesting to see how estimates for the coming quarters and current fiscal year change in the days ahead. The current consensus EPS estimate is $2.23 on $2.25 billion in revenues for the coming quarter and $7.17 on $7.8 billion in revenues for the current fiscal year.Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Toys - Games - Hobbies is currently in the bottom 13% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.One other stock from the same industry, Activision Blizzard, Inc (ATVI), is yet to report results for the quarter ended December 2022. The results are expected to be released on February 6.This company is expected to post quarterly earnings of $1.51 per share in its upcoming report, which represents a year-over-year change of +20.8%. The consensus EPS estimate for the quarter has been revised 0.8% lower over the last 30 days to the current level.Activision Blizzard, Inc's revenues are expected to be $3.22 billion, up 29.6% from the year-ago quarter. Free Report Reveals How You Could Profit from the Growing Electric Vehicle Industry Globally, electric car sales continue their remarkable growth even after breaking records in 2021. High gas prices have fueled his demand, but so has evolving EV comfort, features and technology. So, the fervor for EVs will be around long after gas prices normalize. Not only are manufacturers seeing record-high profits, but producers of EV-related technology are raking in the dough as well. Do you know how to cash in?  If not, we have the perfect report for you – and it’s FREE! Today, don't miss your chance to download Zacks' top 5 stocks for the electric vehicle revolution at no cost and with no obligation.>>Send me my free report on the top 5 EV stocksWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Electronic Arts Inc. (EA): Free Stock Analysis Report Activision Blizzard, Inc (ATVI): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research.....»»

Source:  zacksCategory: top~2 hr. 30 min. ago Related News

Credit Acceptance (CACC) Surpasses Q4 Earnings and Revenue Estimates

Credit Acceptance (CACC) delivered earnings and revenue surprises of 24.25% and 5.18%, respectively, for the quarter ended December 2022. Do the numbers hold clues to what lies ahead for the stock? Credit Acceptance (CACC) came out with quarterly earnings of $9.58 per share, beating the Zacks Consensus Estimate of $7.71 per share. This compares to earnings of $14.60 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 24.25%. A quarter ago, it was expected that this auto financing company would post earnings of $11.37 per share when it actually produced earnings of $6.49, delivering a surprise of -42.92%.Over the last four quarters, the company has surpassed consensus EPS estimates two times.Credit Acceptance, which belongs to the Zacks Financial - Consumer Loans industry, posted revenues of $459 million for the quarter ended December 2022, surpassing the Zacks Consensus Estimate by 5.18%. This compares to year-ago revenues of $463.2 million. The company has topped consensus revenue estimates four times over the last four quarters.The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.Credit Acceptance shares have lost about 5.4% since the beginning of the year versus the S&P 500's gain of 4.6%.What's Next for Credit Acceptance?While Credit Acceptance has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.Ahead of this earnings release, the estimate revisions trend for Credit Acceptance: favorable. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #2 (Buy) for the stock. So, the shares are expected to outperform the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.It will be interesting to see how estimates for the coming quarters and current fiscal year change in the days ahead. The current consensus EPS estimate is $8.30 on $441.17 million in revenues for the coming quarter and $34 on $1.8 billion in revenues for the current fiscal year.Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Financial - Consumer Loans is currently in the bottom 39% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.Ezcorp (EZPW), another stock in the same industry, has yet to report results for the quarter ended December 2022.This consumer financial services company is expected to post quarterly earnings of $0.20 per share in its upcoming report, which represents a year-over-year change of -9.1%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.Ezcorp's revenues are expected to be $248.14 million, up 12.3% from the year-ago quarter. Free Report Reveals How You Could Profit from the Growing Electric Vehicle Industry Globally, electric car sales continue their remarkable growth even after breaking records in 2021. High gas prices have fueled his demand, but so has evolving EV comfort, features and technology. So, the fervor for EVs will be around long after gas prices normalize. Not only are manufacturers seeing record-high profits, but producers of EV-related technology are raking in the dough as well. Do you know how to cash in?  If not, we have the perfect report for you – and it’s FREE! Today, don't miss your chance to download Zacks' top 5 stocks for the electric vehicle revolution at no cost and with no obligation.>>Send me my free report on the top 5 EV stocksWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Credit Acceptance Corporation (CACC): Free Stock Analysis Report EZCORP, Inc. (EZPW): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research.....»»

Source:  zacksCategory: top~2 hr. 30 min. ago Related News

Central Garden (CENTA) Reports Q1 Loss, Tops Revenue Estimates

Central Garden (CENTA) delivered earnings and revenue surprises of 11.11% and 3.64%, respectively, for the quarter ended December 2022. Do the numbers hold clues to what lies ahead for the stock? Central Garden (CENTA) came out with a quarterly loss of $0.16 per share versus the Zacks Consensus Estimate of a loss of $0.18. This compares to earnings of $0.16 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 11.11%. A quarter ago, it was expected that this pet and lawn products maker would post earnings of $0.03 per share when it actually produced a loss of $0.04, delivering a surprise of -233.33%.Over the last four quarters, the company has surpassed consensus EPS estimates three times.Central Garden, which belongs to the Zacks Consumer Products - Discretionary industry, posted revenues of $627.66 million for the quarter ended December 2022, surpassing the Zacks Consensus Estimate by 3.64%. This compares to year-ago revenues of $661.4 million. The company has topped consensus revenue estimates three times over the last four quarters.The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.Central Garden shares have added about 7.5% since the beginning of the year versus the S&P 500's gain of 4.6%.What's Next for Central Garden?While Central Garden has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.Ahead of this earnings release, the estimate revisions trend for Central Garden: unfavorable. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #4 (Sell) for the stock. So, the shares are expected to underperform the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.It will be interesting to see how estimates for the coming quarters and current fiscal year change in the days ahead. The current consensus EPS estimate is $1.26 on $955.46 million in revenues for the coming quarter and $2.63 on $3.36 billion in revenues for the current fiscal year.Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Consumer Products - Discretionary is currently in the bottom 22% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.One other stock from the same industry, Container Store Group (TCS), is yet to report results for the quarter ended December 2022. The results are expected to be released on February 7.This storage products retailer is expected to post quarterly earnings of $0.09 per share in its upcoming report, which represents a year-over-year change of -67.9%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.Container Store Group's revenues are expected to be $250.77 million, down 6.2% from the year-ago quarter. Free Report Reveals How You Could Profit from the Growing Electric Vehicle Industry Globally, electric car sales continue their remarkable growth even after breaking records in 2021. High gas prices have fueled his demand, but so has evolving EV comfort, features and technology. So, the fervor for EVs will be around long after gas prices normalize. Not only are manufacturers seeing record-high profits, but producers of EV-related technology are raking in the dough as well. Do you know how to cash in?  If not, we have the perfect report for you – and it’s FREE! Today, don't miss your chance to download Zacks' top 5 stocks for the electric vehicle revolution at no cost and with no obligation.>>Send me my free report on the top 5 EV stocksWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Central Garden & Pet Company (CENTA): Free Stock Analysis Report Container Store (The) (TCS): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research.....»»

Source:  zacksCategory: top~2 hr. 30 min. ago Related News

National Instruments (NATI) Misses Q4 Earnings and Revenue Estimates

National Instruments (NATI) delivered earnings and revenue surprises of -3.08% and 1.53%, respectively, for the quarter ended December 2022. Do the numbers hold clues to what lies ahead for the stock? National Instruments (NATI) came out with quarterly earnings of $0.63 per share, missing the Zacks Consensus Estimate of $0.65 per share. This compares to earnings of $0.60 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -3.08%. A quarter ago, it was expected that this maker of scientific measuring equipment and software would post earnings of $0.55 per share when it actually produced earnings of $0.53, delivering a surprise of -3.64%.Over the last four quarters, the company has surpassed consensus EPS estimates just once.National Instruments, which belongs to the Zacks Electronics - Testing Equipment industry, posted revenues of $448.28 million for the quarter ended December 2022, missing the Zacks Consensus Estimate by 1.53%. This compares to year-ago revenues of $420.64 million. The company has topped consensus revenue estimates two times over the last four quarters.The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.National Instruments shares have added about 47% since the beginning of the year versus the S&P 500's gain of 4.6%.What's Next for National Instruments?While National Instruments has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.Ahead of this earnings release, the estimate revisions trend for National Instruments: mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.It will be interesting to see how estimates for the coming quarters and current fiscal year change in the days ahead. The current consensus EPS estimate is $0.49 on $418.43 million in revenues for the coming quarter and $2.46 on $1.8 billion in revenues for the current fiscal year.Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Electronics - Testing Equipment is currently in the top 41% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.One other stock from the same industry, Agilent Technologies (A), is yet to report results for the quarter ended January 2023.This scientific instrument maker is expected to post quarterly earnings of $1.31 per share in its upcoming report, which represents a year-over-year change of +8.3%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.Agilent Technologies' revenues are expected to be $1.69 billion, up 1.1% from the year-ago quarter. Free Report Reveals How You Could Profit from the Growing Electric Vehicle Industry Globally, electric car sales continue their remarkable growth even after breaking records in 2021. High gas prices have fueled his demand, but so has evolving EV comfort, features and technology. So, the fervor for EVs will be around long after gas prices normalize. Not only are manufacturers seeing record-high profits, but producers of EV-related technology are raking in the dough as well. Do you know how to cash in?  If not, we have the perfect report for you – and it’s FREE! Today, don't miss your chance to download Zacks' top 5 stocks for the electric vehicle revolution at no cost and with no obligation.>>Send me my free report on the top 5 EV stocksWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report National Instruments Corporation (NATI): Free Stock Analysis Report Agilent Technologies, Inc. (A): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research.....»»

Source:  zacksCategory: top~2 hr. 30 min. ago Related News

Central Garden (CENT) Reports Q1 Loss, Tops Revenue Estimates

Central Garden (CENT) delivered earnings and revenue surprises of 11.11% and 3.64%, respectively, for the quarter ended December 2022. Do the numbers hold clues to what lies ahead for the stock? Central Garden (CENT) came out with a quarterly loss of $0.16 per share versus the Zacks Consensus Estimate of a loss of $0.18. This compares to earnings of $0.16 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 11.11%. A quarter ago, it was expected that this maker of products for the pet supply and lawn and garden markets would post earnings of $0.03 per share when it actually produced a loss of $0.04, delivering a surprise of -233.33%.Over the last four quarters, the company has surpassed consensus EPS estimates three times.Central Garden, which belongs to the Zacks Consumer Products - Discretionary industry, posted revenues of $627.66 million for the quarter ended December 2022, surpassing the Zacks Consensus Estimate by 3.64%. This compares to year-ago revenues of $661.4 million. The company has topped consensus revenue estimates three times over the last four quarters.The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.Central Garden shares have added about 8.7% since the beginning of the year versus the S&P 500's gain of 4.6%.What's Next for Central Garden?While Central Garden has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.Ahead of this earnings release, the estimate revisions trend for Central Garden: unfavorable. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #4 (Sell) for the stock. So, the shares are expected to underperform the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.It will be interesting to see how estimates for the coming quarters and current fiscal year change in the days ahead. The current consensus EPS estimate is $1.26 on $955.46 million in revenues for the coming quarter and $2.63 on $3.36 billion in revenues for the current fiscal year.Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Consumer Products - Discretionary is currently in the bottom 22% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.One other stock from the same industry, Spectrum Brands (SPB), is yet to report results for the quarter ended December 2022. The results are expected to be released on February 10.This holding company is expected to post quarterly loss of $0.14 per share in its upcoming report, which represents a year-over-year change of -133.3%. The consensus EPS estimate for the quarter has been revised 3.9% lower over the last 30 days to the current level.Spectrum Brands' revenues are expected to be $774.65 million, up 2.3% from the year-ago quarter. Free Report Reveals How You Could Profit from the Growing Electric Vehicle Industry Globally, electric car sales continue their remarkable growth even after breaking records in 2021. High gas prices have fueled his demand, but so has evolving EV comfort, features and technology. So, the fervor for EVs will be around long after gas prices normalize. Not only are manufacturers seeing record-high profits, but producers of EV-related technology are raking in the dough as well. Do you know how to cash in?  If not, we have the perfect report for you – and it’s FREE! Today, don't miss your chance to download Zacks' top 5 stocks for the electric vehicle revolution at no cost and with no obligation.>>Send me my free report on the top 5 EV stocksWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Central Garden & Pet Company (CENT): Free Stock Analysis Report Spectrum Brands Holdings Inc. (SPB): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research.....»»

Source:  zacksCategory: top~2 hr. 30 min. ago Related News

Amgen (AMGN) Surpasses Q4 Earnings and Revenue Estimates

Amgen (AMGN) delivered earnings and revenue surprises of 1.24% and 1.49%, respectively, for the quarter ended December 2022. Do the numbers hold clues to what lies ahead for the stock? Amgen (AMGN) came out with quarterly earnings of $4.09 per share, beating the Zacks Consensus Estimate of $4.04 per share. This compares to earnings of $4.36 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 1.24%. A quarter ago, it was expected that this world's largest biotech drugmaker would post earnings of $4.43 per share when it actually produced earnings of $4.70, delivering a surprise of 6.09%.Over the last four quarters, the company has surpassed consensus EPS estimates four times.Amgen, which belongs to the Zacks Medical - Biomedical and Genetics industry, posted revenues of $6.84 billion for the quarter ended December 2022, surpassing the Zacks Consensus Estimate by 1.49%. This compares to year-ago revenues of $6.85 billion. The company has topped consensus revenue estimates four times over the last four quarters.The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.Amgen shares have lost about 4.2% since the beginning of the year versus the S&P 500's gain of 4.6%.What's Next for Amgen?While Amgen has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.Ahead of this earnings release, the estimate revisions trend for Amgen: mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.It will be interesting to see how estimates for the coming quarters and current fiscal year change in the days ahead. The current consensus EPS estimate is $4.48 on $6.44 billion in revenues for the coming quarter and $18.43 on $28.46 billion in revenues for the current fiscal year.Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Medical - Biomedical and Genetics is currently in the top 35% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.Another stock from the same industry, Ultragenyx (RARE), has yet to report results for the quarter ended December 2022.This biotechnology company is expected to post quarterly loss of $1.97 per share in its upcoming report, which represents a year-over-year change of -10.1%. The consensus EPS estimate for the quarter has been revised 0.3% lower over the last 30 days to the current level.Ultragenyx's revenues are expected to be $101.59 million, up 21.8% from the year-ago quarter. Free Report Reveals How You Could Profit from the Growing Electric Vehicle Industry Globally, electric car sales continue their remarkable growth even after breaking records in 2021. High gas prices have fueled his demand, but so has evolving EV comfort, features and technology. So, the fervor for EVs will be around long after gas prices normalize. Not only are manufacturers seeing record-high profits, but producers of EV-related technology are raking in the dough as well. Do you know how to cash in?  If not, we have the perfect report for you – and it’s FREE! Today, don't miss your chance to download Zacks' top 5 stocks for the electric vehicle revolution at no cost and with no obligation.>>Send me my free report on the top 5 EV stocksWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Amgen Inc. (AMGN): Free Stock Analysis Report Ultragenyx Pharmaceutical Inc. (RARE): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research.....»»

Source:  zacksCategory: top~2 hr. 30 min. ago Related News

Northeast Community Bancorp (NECB) Misses Q4 Earnings Estimates

Northeast Community Bancorp (NECB) delivered earnings and revenue surprises of -3.57% and 10.85%, respectively, for the quarter ended December 2022. Do the numbers hold clues to what lies ahead for the stock? Northeast Community Bancorp (NECB) came out with quarterly earnings of $0.54 per share, missing the Zacks Consensus Estimate of $0.56 per share. This compares to earnings of $0.27 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -3.57%. A quarter ago, it was expected that this bank holding company would post earnings of $0.37 per share when it actually produced earnings of $0.49, delivering a surprise of 32.43%.Over the last four quarters, the company has surpassed consensus EPS estimates two times.Northeast Community Bancorp, which belongs to the Zacks Banks - Northeast industry, posted revenues of $21.73 million for the quarter ended December 2022, surpassing the Zacks Consensus Estimate by 10.85%. This compares to year-ago revenues of $12.26 million. The company has topped consensus revenue estimates three times over the last four quarters.The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.Northeast Community Bancorp shares have added about 3% since the beginning of the year versus the S&P 500's gain of 4.6%.What's Next for Northeast Community Bancorp?While Northeast Community Bancorp has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.Ahead of this earnings release, the estimate revisions trend for Northeast Community Bancorp: mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.It will be interesting to see how estimates for the coming quarters and current fiscal year change in the days ahead. The current consensus EPS estimate is $0.46 on $18.7 million in revenues for the coming quarter and $1.79 on $74.17 million in revenues for the current fiscal year.Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Banks - Northeast is currently in the bottom 19% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.Another stock from the same industry, Community Financial (TCFC), has yet to report results for the quarter ended December 2022.This holding company for Community Bank of the Chesapeake is expected to post quarterly earnings of $1.37 per share in its upcoming report, which represents a year-over-year change of +16.1%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.Community Financial's revenues are expected to be $21.06 million, up 9.9% from the year-ago quarter. Free Report Reveals How You Could Profit from the Growing Electric Vehicle Industry Globally, electric car sales continue their remarkable growth even after breaking records in 2021. High gas prices have fueled his demand, but so has evolving EV comfort, features and technology. So, the fervor for EVs will be around long after gas prices normalize. Not only are manufacturers seeing record-high profits, but producers of EV-related technology are raking in the dough as well. Do you know how to cash in?  If not, we have the perfect report for you – and it’s FREE! Today, don't miss your chance to download Zacks' top 5 stocks for the electric vehicle revolution at no cost and with no obligation.>>Send me my free report on the top 5 EV stocksWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Northeast Community Bancorp Inc. (NECB): Free Stock Analysis Report The Community Financial Corporation (TCFC): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research.....»»

Source:  zacksCategory: top~2 hr. 30 min. ago Related News

Chicago Crime Rises 61% In 2023, Violent Offenses Spike While Governor Insists Crime "Coming Down"

Chicago Crime Rises 61% In 2023, Violent Offenses Spike While Governor Insists Crime "Coming Down" Authored by Naveen Anthrapully via The Epoch Times, The crime rate in Chicago has spiked by 61 percent in the first three weeks of 2023, with almost all crime segments registering an increase, with data coming at a time when the state’s governor insists that crime in the city is decreasing. In the first 22 days of this year, the Chicago Police Department received 4,844 complaints related to crime, up 61 percent compared to the 3,013 complaints received in 2022, reveals data (pdf) from the department. This is also 97 percent higher than from the same period in 2021 and 81 percent higher than in 2020. The biggest increase in crime in the past year was in motor vehicle theft, which rose by 165 percent year to date until Jan. 22, 2023, when compared to the year-ago period. Aggravated battery jumped 31 percent, robbery 26 percent, theft, 24 percent, criminal sexual assault 12 percent, and burglary 11 percent. Murder fell by 9 percent, while shooting incidents declined 1 percent. The data come as Illinois governor J.B. Pritzker has been trying to paint a positive picture of Chicago’s crime incidents. “Crime is coming down gradually in the city and across the state. It’s going to take a little while. These things don’t come down immediately. But it’s getting better,” he said in an interview with CNBC this month. Chicago Mayor Lori Lightfoot recently attracted criticism after a mayoral debate on Jan. 9 during which she suggested that street vendors “not use money, if at all possible, using other forms of transactions to take care of themselves” so as to ensure that their money is safe. “To combat crime in Chicago, Mayor @LoriLightfoot says ‘not use money, if at all possible, (use) other forms of transactions to carry…’ What’s next? Laws demanding ‘cash control’?" conservative talk radio host Larry Elder said in a tweet on Jan. 23. Businesses and Citizens Looking to Exit City The high crime rate in Chicago is affecting businesses operating in the city, with some of them choosing to leave. In October 2022, Tyson Foods, for example, announced plans to relocate staffers from the Chicago area and South Dakota to Arkansas. In May, Boeing had announced plans to shift its headquarters out of Chicago. In a speech to the Economic Club of Chicago in September, McDonald’s CEO Chris Kempczinski revealed that he has received multiple offers from governors and mayors from other states who want him to shift the company’s headquarters from Chicago. “While it may wound our civic pride to hear it, there is a general sense out there that our city is in crisis,” Kempczinski said. “We have violent crime that’s happening in our restaurants … We’re seeing homelessness issues in our restaurants. We’re having drug overdoses that are happening in our restaurants.” A survey published this month by nonprofit AARP found that 88 percent of Chicago voters over 50 years of age have considered leaving the city in the past year. They wanted to move to a community with a lower crime rate. Among respondents, 89 percent said that a candidate’s position on violence and crime is “very important” when it comes to deciding the next mayor. Cashless Bail One of the main reasons contributing to ongoing crime is a lax approach to enforcing the law while approving measures that cut down severity of punishments related to lawlessness. A controversial law, the SAFE-T Act, was set to go into effect on Jan. 1, 2023, in Illinois. But on Dec. 31, the state supreme court placed on hold a portion of the bill that would have eliminated cash bail for certain crimes. Last month, a Kankakee County judge had ruled that cashless bail violated Illinois’ constitution and couldn’t be applied in counties where lawsuits have been filed to block it. Republican leaders had earlier raised alarm bells about the SAFE-T act, warning that it would result in a rapid rise in crime in Illinois, including Chicago. The city frequently registers over 700 homicides annually. State Senator John Curran, a Republican, pointed out that SAFE-T’s cashless bail raises the risk of releasing dangerous criminals back into the streets. Multiple law enforcement officials had also warned about the cashless bail provision. According to real estate platform Property Club, Chicago is ranked number six on the list of most dangerous cities in the United States. Tyler Durden Tue, 01/31/2023 - 17:00.....»»

Source:  zerohedgeCategory: blog~2 hr. 30 min. ago Related News

Cardboard Box Demand Plunging At Rates Unseen Since The Great Recession

Cardboard Box Demand Plunging At Rates Unseen Since The Great Recession By Rachel Premack of FreightWaves, Demand and output for cardboard boxes and other packaging material fell sharply in the fourth quarter of 2022, according to data released by the American Forest & Paper Association and Fibre Box Association on Friday. It’s the latest indicator that consumer demand is eroding following the pandemic. Dwindling savings, inflation, rising interest rates and fears of a recession may all be swaying consumers to spend less.  Such pressures would show up in the humble box industry, which serves as an excellent barometer for the larger economy. Practically everything we consume and use spends some time in a box, ranging from online orders to food sent to grocery stores. Box shipments have plunged at a rate not seen since the Great Recession. (Source: Fibre Box Association, KeyBanc Capital Markets)  U.S. box shipments fell by 8.4% in the fourth quarter, according to the Fibre Box Association. KeyBanc’s Adam Josephson, who leads the bank’s analysis of the packaging industry, wrote in a Sunday note that this was “the most severe quarterly decline since the Great Financial Crisis (2Q09).” Inventories of containerboard in the U.S. are unusually high. (Source: American Forest & Paper Association, Fibre Box Association, KeyBanc Capital Markets)  U.S. box operating rates fell to 80.9%, the Fibre Box Association said, which was also a low last seen in the first quarter of 2009. This means nearly 20% of the U.S. capacity to produce boxes was stagnant last quarter. Supply of containerboard, which is used to make corrugated boxes, stood at 4.3 weeks, according to the American Forest & Paper Association. That’s down from last quarter, but still historically high.  Inventories of containerboard in the U.S. are unusually high. (Source: American Forest & Paper Association, Fibre Box Association, KeyBanc Capital Markets)  The American Forest & Paper Association reported that another type of packaging material called boxboard had its lowest operating rate in its five-year record during 2022’s final quarter. Boxboard is typically thinner than cardboard and lacks air pockets. Box bloodbath? Cardboard crisis? Box demand normally sees modest upticks of 1% to 2% each year. But government stimulus and the shift from service to goods demand through 2020 and 2021 shocked box demand into some of its fastest growth in history. Prices rose as much as 55% through this time, Josephson said.  A hangover after a yearslong cardboard carnival would be in order — and this one looks nasty. To Josephson, the end of 2022 in the packaging world had “echoes of the Great Financial Crisis everywhere one looks,” he wrote in the Sunday note. What’s more, significant capacity — that is, more facilities that produce packaging materials — is set to enter the market through the next several years. It’s a tricky time for more packaging production to open up, given the shaky outlook for demand and falling consumer spending. Consumer debt is growing at nearly the same pace it was prior to 2020. But that debt is more expensive as interest rates soar. (FreightWaves SONAR)     "Inflationary pressures on the consumers have also added to the problem by reducing the consumers’ discretionary spending capabilities,” said Thomas Hassfurther, executive vice president of corrugated products at WestRock, in a Thursday call to investors. WestRock is the No. 2 largest packaging company in the U.S. “In addition, consumer behavior changed very quickly as we exited the extreme COVID period, resulting in more of a preference towards travel, entertainment and experience versus that of tangible goods,” Hassfurther said. “Containerboard and box demand continues to be negatively impacted from the deterioration in U.S. and global economic conditions, rising interest rates and a cooler housing market.” However, WestRock executives maintained that demand in 2023 still appeared “healthy” compared to pre-COVID times. On the Thursday call, they forecast shipments to be 6% higher in first-quarter 2023 compared to the same period in 2019, on a per-day basis. What goes up must come down … and down … Many of the industries that saw wild demand during the pandemic are now crashing, like container shipping, used cars and home building.  A downturn after a wild upswing isn’t particularly shocking. What’s troublesome is that executives grew or made plans to grow in response to this unprecedented demand. An increase in supply will further drive down already-plummeting prices. In the cardboard world, for example, more than 2 million tons per year of additional containerboard output is coming to the North American market. Ocean carriers expect to add a record-breaking number of new container ships through the next two years. And nearly 60 real estate firms, most of which expanded payrolls during the pandemic, have already had to lay off more than 13,000 workers through 2022 and 2023, according to Insider. It’s not all doom and gloom. Outbound requests for truckload services were slightly up in late January 2023, compared to the same period in 2019 and 2020. That’s a chipper indicator for goods demand. The Fed’s offensive on inflation has appeared to slow the rate of price increases without halting an unusually strong job market. Payrolls across the U.S. remain historically strong, with an unemployment rate of just 3.5%. Tyler Durden Tue, 01/31/2023 - 17:40.....»»

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Prestigious Liberal Watchdog Condemns New York Times" Russiagate Coverage

Prestigious Liberal Watchdog Condemns New York Times" Russiagate Coverage.....»»

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The Margin: ‘The Last of Us’ leads Spotify streams of Linda Ronstadt’s ‘Long Long Time’ to spike almost 5,000%

The 1970 single is getting new life on Spotify and TikTok, similar to what ‘Stranger Things’ did for Kate Bush's 1985 single 'Running Up That Hill' last summer.....»»

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The Wall Street Journal: EU warns Elon Musk that Twitter must improve to comply with upcoming regulations

A top European Union official told Elon Musk on Tuesday that Twitter Inc. will have to do more over the coming months to prepare for the bloc’s new social-media regulations......»»

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Earnings Outlook: Peloton earnings: What to expect

Peloton has been spinning its wheels in recent quarters trying to turn its business around, and investors will be looking for signs of progress Wednesday......»»

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Earnings Results: AMD CEO promises to keep taking data-center from Intel even as cloud demand pauses following ‘strong’ 2022

Advanced Micro Devices Inc. shares rose in the extended session Tuesday after the chip maker’s quarterly data-center sales gains countered a big hit to PC sales and the company forecast sales above $5 billion for the current quarter......»»

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Market Extra: Cathie Wood’s ARKK logs best month ever as tech shares surge

A January rebound for beaten-down tech shares made for the best month on record for Cathie Wood's flagship fund......»»

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: Clean-energy investing poised to top money backing oil and gas after hitting a record $1 trillion

Investment in clean-energy technologies is on the brink of overtaking fossil-fuel spending, and won’t look back, say researchers at BloombergNEF......»»

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SoCalGas says skyrocketing bills will drop significantly in February

SoCalGas said that lower bills may be coming as soon as next month as politicians try to lessen the impact of skyrocketing natural gas prices.SoCalGas said that lower bills may be coming as soon as next month as politicians try to lessen the impact of skyrocketing natural gas prices......»»

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Worried about World War III, Trump says he wants an "impenetrable" shield like Iron Dome to protect the US from hypersonic weapons. A missile defense expert says it"s a long shot.

Whether that's Iron Dome, something similar, or something else entirely, nothing is going to be "impenetrable," a missile defense expert said. U.S. President Donald Trump speaks to the media during a meeting with congressional leadership in the Roosevelt Room at the White House on November 28, 2017 in Washington, DC.Photo by Kevin Dietsch-Pool/Getty Images Trump recently said the US should build a nationwide missile defense shield like Israel's Iron Dome.  He said the US must be able to defend itself from the potential threat of hypersonic missiles. A missile defense expert said the plan is a long shot. Former President Donald Trump said in a recent video message that he would build an "impenetrable" missile defense shield like Israel's famed Iron Dome to protect the entire US from nuclear weapons and hypersonic missiles should he win the 2024 presidential election.It is unclear if Trump wants the Iron Dome system defending American cities or if he wants a new shield specifically designed for hypersonic threats. Either way, his plan for an "impenetrable" defense is unrealistic, a missile defense expert told Insider.Iron Dome is not designed to defend against this type of threat. It protects a small area from less advanced projectiles, such as low-altitude and slow-moving rockets and artillery. And a new shield aimed at defeating all higher-end threats would be a massive undertaking that would almost certainly still have gaps.Trump said a shield is necessary because the rhetoric surrounding nuclear weapons and war has increased since he left office, claiming inaccurately that such threats never happened during his presidency but are now increasing because other countries have "no respect" for the Biden administration. His presidency began with nuclear threats from North Korea and during it, Russia unveiled a suite of developmental nuclear super weapons.Trump didn't provide any specifics on the new threats, but Russian President Vladimir Putin and North Korean leader Kim Jong-un have both made several provocative and threatening remarks about the possible future use of nuclear weapons in the last few months alone.  Trump argued a possible World War III would be a "catastrophe" that would dwarf the previous two world wars. To protect the US from such a hypothetical threat, the former president said the US needs to be protected by an "impenetrable dome," and should he win re-election in 2024, he would construct a "state-of-the-art next generation missile defense shield, just as Israel is now protected by the Iron Dome."He added that the US must be able to defend itself, its allies, and military assets around the world from the potential threat of nukes and hypersonic missiles. This type of threat is well beyond the Iron Dome's pay grade, as well as that of existing ballistic missile defense systems.A defense for short-range rockets and smaller artilleryIsrael's Iron Dome is designed to intercept short-range rockets and artillery from landing in civilian areas by using a network of radars and missile launchers. First deployed in 2011, Iron Dome is supported by the US and is considered one of the most advanced air defense systems in the world. Each Iron Dome interceptor costs roughly $20,000 and can intercept projectiles fired from over 40 miles away that are headed toward a sensitive or populated area. The missiles are fired from a battery, which work with radar-guided early warning systems to identify potential threats.   A single battery contains multiple launchers, each of which can hold as many as 20 Tamir interceptors, according to the Center for Strategic and International Studies (CSIS). One battery — which consists of a radar and a battle management system and costs an estimated $100M to make — can defend a nearly 60-square-mile chunk of territory, and several are scattered across Israel.An Iron Dome air defense system fires to intercept a rocket from Gaza Strip in the coastal city of Ashkelon, Israel, Saturday, July 5, 2014.AP Photo/Tsafrir AbayovIron Dome is excellent, but this exact type of defense won't necessarily have the same effectiveness over the US. It is very different defending a tiny country instead of a large continent, Ian Williams, deputy director of the Missile Defense Project at the CSIS, told Insider. Israel is less than 9,000 square miles, while the US spans over a whopping 3.7 million square miles. And Iron Dome is not capable of defending Israel against everything, Williams said. It is tailored to relatively low-altitude and slow-moving threats like short-range rockets, small missiles, artillery, and drones — it doesn't have a ballistic missile defense capability that would be needed to even have a chance at thwarting Trump's hypothetical hypersonic missile attack. Iron Dome also doesn't defend Israel by itself, according to the country's foreign ministry. It works in coordination with the David's Sling system — which protects against medium- to long-range rockets and missiles — and the Arrow system, which defends against ballistic missiles. The country also has a US-made Patriot air defense battery. "No missile defense system is impenetrable," Williams said. "It's about how you use your missile defenses in coordination with other systems." Even then, nothing is going to be impenetrable, as Israel has also found in its pursuits.He said there is a misconception that because Iron Dome can intercept around 90% of incoming threats, the system could be deployed over a major US city to defeat potential threats. But "the only thing that an Iron Dome in New York City could do would be to defend it against artillery barrages from New Jersey," Williams said.  'There's always some way to get through'Right now, the US has a homeland missile defense system called the Ground-based Midcourse Defense (GMD). According to the Department of Defense, this system can identify and engage certain intermediate- and long-range ballistic missile threats in space. The GMD consists of 44 ground-based interceptors — as opposed to sea- or space-based — and global sensors, communications networks, and fire control systems. It is a "fairly capable" system designed to protect against "relatively simple" intercontinental ballistic missiles, Williams said. The system is said to have a success rate of around 55 percent in scripted testing, according to the Center for Arms Control and Non-Proliferation.Royal Canadian Air Force Colonel Travis Morehen, NORAD and USNORTHCOM Command Center Director, stands inside the command center inside Cheyenne Mountain Air Force Station on May 10, 2018 in Colorado Springs, Colorado.Photo by RJ Sangosti/The Denver Post via Getty ImagesExpanding this system wouldn't be impossible, but it would require a massive scale-up effort beyond what the US has done in the past, Williams said. A defense system of such massive scale would be reminiscent of the 1980s Strategic Defense Initiative, the epicenter of former President Ronald Reagan's defense policy, which would have relied on theoretical ground- and space-based missile interceptors.In addition to likely being incredibly expensive, there is no guarantee such a system would even work as intended. As is, the GMD system is not suited for countering threats from hypersonic missiles, which fly along unpredictable flight paths rather than the parabolic ones of traditional ballistic missiles.There are other systems available that might potentially help provide a layered defense, but trying to build something impenetrable is a long shot."We've kind of gone away from this idea of a perfect impenetrable dome. Given the threats you face, there's always some way to get through," Williams said. Missile defense is about "buying time" and being able to preserve the military so it can carry out a counteroffensive "to a degree that will deter your opponent from starting a war in the first place." While Trump appears to be framing the missile defense situation incorrectly, there are still certain things that the US can do to strengthen its homeland missile defense, Williams noted. One example of this is continuing to advance ballistic missile defense capabilities like tracking threats from space or upgrading interceptors to be able to eliminate more complex weapons.Additionally, he said, the US can improve its general air defense to defend sensitive areas around the country — like Washington, DC or military bases — from cruise missile threats.Read the original article on Business Insider.....»»

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ChatGPT"s massive hype has made these 5 artificial intelligence stocks some of the hottest on the market

"We believe Nvidia has in ChatGPT a potentially meaningful compute demand driver," Citigroup analysts said recently. An illustration of artificial intelligence, or A.I.Shutterstock The success of ChatGPT has sparked a rally in artificial intelligence stocks.  Shares of AI tech suppliers like Nvidia and Ambarella have jumped since the launch of ChatGPT.  Here's a list of five AI stocks that have surged since OpenAI launched ChatGPT on November 30.  Everyone is talking about ChatGPT, and investors are trading on the hype, sending both notable and under-the-radar artificial intelligence stocks soaring since the bot launched. On November 30, OpenAI unveiled ChatGPT, and since then it has shown a capacity for a range of tasks, such as writing stock stories, layoff emails, and even dating-app messages.The buzz has exploded, and OpenAI is getting a reported $10 billion investment from Microsoft. While OpenAI isn't traded on public markets, artificial intelligence stocks that are public have been riding the wave.Here's a list of five AI stocks that have seen a surge since November 29, the last trading day before ChatGPT launched. Nvidia Ticker: NVDAPercent gain: 23%Nvidia, best known for its design and production of graphics-processing chips, is embedded in the artificial intelligence craze, and the firm's technology is used for various AI integrations from self-driving cars to robots.The Nvidia stock rally has also made founder and CEO Jensen Huang considerably richer as his wealth has grown by more than $5 billion so far this year, Bloomberg data shows.Wall Street is also bullish. Citigroup analysts recently estimated that a boom in ChatGPT usage could translate to $3 billion-$11 billion in sales for Nvidia in the next 12 months. "We believe Nvidia has in ChatGPT a potentially meaningful compute demand driver," the bank said.Meanwhile, analysts at Bank of America said Nvidia is a top potential winner from generative AI growth, and Wells Fargo said new chips from Nvidia are poised to gain from greater computing needs of AI tools like ChatGPT.AmbarellaTicker: AMBAPercent gain: 26% Ambarella is another chip company that serves the AI market. It designs semiconductors that are used in everything from entertainment consoles in cars to cellphones.It also specializes in "system on a chip" semiconductors that combine multiple central processors on one logic board to provide artificial intelligence computing.Ambarella chips are used in self-driving functions, and the company recently partnered with German auto supplier Continental on an autonomous driving venture. Mobileye Ticker: MBLYPercent gain: 39%Mobileye was spun off by Intel and focuses on self-driving technology and driver-assistance systems, including chips and cameras. Volkswagen, Ford, and GM are among its customers. The company has a near-fully autonomous system called SuperVision, and its Chauffeur product is designed to convert a car into a Level 4 self-driven vehicle.Last week, the company beat quarterly forecasts and gave an upbeat 2023 revenue projection. CEO Amnon Shashua touted roughly $17 billion worth of bookings that extends through 2030. "We expect SuperVision to be a very large growth driver in 2023 and beyond," he told analysts on an earnings call.C3.aiTicker: AIPercent gain: 61%C3.ai is an artificial intelligence software suite provider, and has the success of ChatGPT to thank for its recent stock surge. Shares soared roughly 28% on Tuesday alone on news that it would integrate ChatGPT into its product suite."The C3 Generative AI Product Suite integrates the latest AI capabilities from organizations such as Open AI, Google, and academia, and the most advanced models, such as ChatGPT and GPT-3 into C3 AI's enterprise AI products," C3.ai said in a Tuesday press release.AlteryxTicker: AYXPercent gain: 28%Alteryx's software is best known for data and analytics, and the firm is also focused on furthering automation. The firm specializes in artificial intelligence integration, although on a smaller scale compared peers like Google and Meta. The company will report quarterly results on February 9.Read the original article on Business Insider.....»»

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US stocks rise to solidify January gains amid earnings and a brighter global growth outlook

After 2022's dismal run, the Nasdaq Composite and the S&P 500 found strength at the start of the 2023 trading year. Traders work on the floor of the New York Stock Exchange.Spencer Platt/Getty Images US stocks ended higher on Tuesday to wrap up strong January gains.  The Nasdaq Composite soared 10% after stocks in 2022 suffered bear market losses.  The Federal Reserve's next rate hike is expected on Wednesday.  US stocks finished higher Tuesday as a crop of corporate earnings and improving snapshots on US wage inflation and global growth rounded off a strong January for equities. The S&P 500's advance was fueled by 10 of its 11 sectors. From the earnings front, General Motors rose on upbeat guidance from the car maker, and Exxon Mobil's nearly $56 billion in record full-year profit helped push the oil major's shares up. The International Monetary Fund's upgrade to its 2023 global economic outlook and further slowing of US pay growth in the fourth quarter also provided upside support for stocks. Next on investors' agenda is the Federal Reserve's expected decision Wednesday to raise interest rates for the eighth straight time but at a slower pace of 25 basis points. Here's where US indexes stood at the 4:00 p.m. closing bell on Tuesday:   S&P 500: 4,076.60, up 1.46%Dow Jones Industrial Average: 34,086.04, up 1.09% (368.95 points)Nasdaq Composite: 11,584.55, up 1.67%"Overall, we're bullish on the equity market moving into February, as well as for the full year 2023," Greg Bassuk, chief executive officer at AXS Investments, told Insider. "But rather than anticipating a straight trajectory upward, we think that with a combination of mixed corporate earnings results ... with likely mixed economic data, it'll be a little bit more choppy and volatile." Bassuk said the US economy looks likely to avoid a recession but a flare-up in inflationary pressures remains a risk, he said. "Whether inflation has peaked or not, the fact is that prices remain elevated. That's going to hamper everything from consumer spending to corporate margins until prices ease a bit," he said. "[That] is another factor that could infuse some hiccups and choppiness in the short-term equity markets." Here's what else is happening today:Prosecutors alleged Sam Bankman-Fried's Robinhood holdings show how the FTX founder tried to cloak his misuse of customers' funds.  Twitter made its first interest payment on Elon Musk's massive buyout debt, averting bankruptcy for now. An investigation found bankrupt crypto lender Celsius wasn't doing business the way it told customers.In commodities, bonds, and crypto:West Texas Intermediate crude turned higher by 1.5% to $79.10 per barrel. Brent crude, the international benchmark, lost 0.6% at $84.45.  Gold rose 1.1% to $1,943 per ounce. The 10-year Treasury yield fell 2 basis points to 3.5%.Bitcoin rose 1.8% to $23,140.11.Read the original article on Business Insider.....»»

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Homebuilder stocks surge after earnings reveal improving demand from buyers despite high mortgage rates

I think this improvement attests to the ongoing desire for homeownership that exists in this country," PulteGroup CEO Ryan Marshall said. Builder confidence in the market for newly built single-family homes rose four points to 35 in January, according to the National Association of Homebuilders.Getty ImagesHomebuilder stocks surged on Tuesday after a slew of earnings showed improving demand from home buyers.The demand from home buyers comes despite the average mortgage rate hovering above 6%."We saw buyer demand improve as the fourth quarter progressed and can confirm the strength continued through the month of January," PulteGroup said.A string of earnings beats sent homebuilder stocks surging on Tuesday as the results show that there is still demand from consumers to buy a home. Despite near record high home prices and the average mortgage rate still being above 6%, PulteGroup CEO Ryan Marshall said demand is improving in the company's fourth-quarter earnings call."Despite the higher rate environment dominating the national conversation, we saw buyer demand improve as the fourth quarter progressed and can confirm the strength continued through the month of January," Marshall said.Shares of PulteGroup surged as much as 10% to a new 52-week high in Tuesday trades. Better-than-expected results from homebuilder NVR also helped boost the sector on Tuesday. Shares of Lennar and Toll Brothers jumped about 3% and 4%, respectively. Shares of NVR jumped as much as 7%.And according to Marshall, the encouraging demand environment could continue through the year, especially if mortgage rates start to decline.  "We'll have to see how things progress from here, but I think this improvement attests to the ongoing desire for homeownership that exists in this country," Marshall said.The encouraging results from the homebuilders is exactly what bullish stock market investors want to see as they gauge whether a "soft landing" in the economy is possible. Many economists see the stability of the housing market as key to whether the financial health of the consumer holds up. One encouraging sign that there could be a continued rebound in the housing market is the fact that homebuilder sentiment jumped in January for the first time in a year. That, combined with a gradual decline in the average 30-year fixed mortgage rate from a peak above 7% to about 6.1% today, could fuel the next leg of growth. "Mortgage rates continue to tick down and, as a result, home purchase demand is thawing from the months-long freeze that gripped the housing market. Potential homebuyers remain sensitive to changes in mortgage rates, but ample demand remains, fueled by first-time homebuyers," FreddieMac said.Read the original article on Business Insider.....»»

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Elon Musk and Jeff Bezos agree on at least one thing: They love HBO"s "The Last of Us"

Musk and Bezos' feud stretches over a decade, but they can both agree that "The Last of Us" is great TV. Nick Offerman as Bill in the most recent episode of "The Last of Us."Liane Hentscher/HBO Elon Musk and Jeff Bezos both love HBO's video-game TV series "The Last of Us." Bezos tweeted that Sunday's episode was "unbelievably good story telling," and Musk responded in agreement. The rivalry between the two billionaires stretches back over a decade. Billionaires Elon Musk and Jeff Bezos have found at least one thing to agree on: They both think HBO's new series "The Last of Us" is great TV."Episode 3 of Last of Us is unbelievably good story telling," Bezos, the Amazon founder and chairman, tweeted on Tuesday. "I am in awe of @Nick_Offerman performance. Incredible.""Great game, great show," Twitter owner Musk responded. "The Last of Us" is an adaptation of the 2013 video game of the same name. Set 20 years after a fungal pandemic, the show stars Pedro Pascal as Joel, who must escort a teenage girl Ellie, played by Bella Ramsey, across a post-apocalyptic US.The show has gained widespread acclaim, with a 96% Rotten Tomatoes critic score. It's a hit with audiences, too: HBO said the first two episodes are averaging over 21 million viewers each since the series premiered two weeks ago.The most recent episode, which Bezos lauded, has received a particularly strong reaction. While the episode was watched by over 6 million viewers on Sunday night and has garnered a positive response from critics, it has been review-bombed by angry fans who don't like its depiction of a same-sex relationship.Musk is an avid video-game fan, and in 2020 tweeted his favorite games of all time. The list didn't include "The Last of Us," which a Twitter user pointed out. Musk responded that he would play the game, adding that since he plays on a PC, he "missed some of console exclusives."Bezos' Amazon has dabbled in making video games, with largely underwhelming results, including the online multiplayer game "New World." But the company is also in the business of making video-game TV shows for its Prime Video streaming service and has several in the works, including "God of War" and "Fallout."The agreement on "The Last of Us" is a rare break in the rivalry between Bezos and Musk.The feud between the billionaires has stretched over a decade and largely centers around their visions for space travel.Musk has regularly taken jabs at Bezos. And in 2020, he suggested Amazon was a monopoly and tweeted it was "time to break up" the company.Read the original article on Business Insider.....»»

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Trump hired Natalee Holloway"s suspected killer"s lawyer to defend him in E. Jean Carroll defamation case

Joe Tacopina has a reputation for taking on defendants in high-profile cases. He's also represented celebrities like Meek Mill and Alex Rodriguez. Joe Tacopina was once called "the most hated lawyer in New York" by the New York Post.Gilbert Carrasquillo/Getty Images Trump hired one of the most famous criminal defense attorneys to represent him against E. Jean Carroll.  Joe Tacopina's former clients include the rapper Meek Mill and Natalee Holloway's suspected killer.  Carroll has accused Trump of sexual battery and defamation.  Former President Donald Trump has hired a lawyer famous for defending accused murderers, rapists, and fraudsters to represent him as he gears up to face his rape accuser in court. According to court documents filed Tuesday, Trump has hired powerhouse attorney Joe Tacopina, and two other lawyers from Tacopina's New York City firm, to represent him in a lawsuit brought by former Elle advice columnist E. Jean Carroll alleging sexual battery and defamation.Carroll claims Trump raped her in a dressing room at Bergdorf Goodman in the mid-1990s. Trump has firmly denied the allegation. Tacopina declined to comment when Insider reached out to him about the news on Tuesday. It's unclear whether Tacopina's firm is replacing Trump's lawyers Alina Habba and Michael Madaio on the case. As of Tuesday, Habba and Madaio were still listed as attorneys representing Trump. Habba did not immediately respond to Insider's request for comment on Tuesday. The New York Post once described Tacopina as possibly "the most hated lawyer in New York" for his penchant for taking on defendants in high-profile cases — from Natalee Holloway's suspected killer Joran van der Sloot to ex-NYPD Officer Kenneth Moreno, who was accused of raping a drunken woman in her East Village apartment. He secured an acquittal for Moreno. "He's slick, he's got a big ego, and he'll represent any scumbag," one prosecutor told the Post in 2011.Tacopina told the Post that he has no issues defending accused criminals. "Have I represented people I believe are guilty? Absolutely. But people who have made mistakes in their lives are entitled to a defense, too," he said. "Prosecutors overcharge. Sometimes people do deserve a break. The system is based on us challenging the government. I've also represented my share of purely innocent people, and that scares me." He's also taken on celebrity clients including Victoria Gotti, daughter of Gambino crime family boss John Gotti; the rapper Meek Mill; former professional baseball player Alex Rodriguez; and Raffaello Follieri, the con-man who famously dated actress Anne Hathaway. Tacopina once said that high-profile cases drive him to do some of his best work. In 2005, he told The New York Times that he has a "knack of getting these cases that seem to be in the limelight and I've got to tell you I didn't dislike it." "I get a certain adrenaline rush knowing your every move is going to be evaluated. I like the high stakes," Tacopina told the Times. Correction: January 31, 2023 — A previous version of this story mistakenly said that Tacopina secured an aquittal for Joran van der Sloot. Van der Sloot was never tried for Natalee Holloway's murder, but remains the primary suspect in the unsolved case. Tacopina helped secure his release from police custody.Read the original article on Business Insider.....»»

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The tech firms that are laying off workers will regret it because the cuts can leave lasting damage

Almost every big tech company, including Google, Amazon, and Microsoft, has laid off staff. Experts say layoffs do reputational damage and hit morale. Satya Nadella, CEO of Microsoft, has announced plans to cut 10,000 jobs, amounting to 5% of the company's workforce.Sean Gallup/Getty Images Major tech firms including Google, Meta, and Amazon, have recently laid off staff. But layoffs take the sheen off big tech firms' brand image, experts told Insider. Not only do the cuts hurt their reputations as employers, they also dent morale and innovation. Tech firms that are slashing jobs and laying off staff are making a "major mistake" because future job candidates will remember how those organizations managed amid economic uncertainty and how they treated employees as they showed them the door, tech and strategy execs say. Big Tech companies including Amazon, Salesforce, Spotify, and Meta, have shed tens of thousands of workers in recent weeks, citing a slowing economy. Google cut 12,000 staffers and Microsoft cut 10,000 jobs, amounting to 5% of its workforce.In many cases, these firms have operated solely during tech's bull run, raising huge amounts of cash, going public, and hiring expansively. For ambitious tech jobseekers, these companies were seen as employers of choice.But the mass layoffs and the way they've been handled will remove some of that sheen, experts say. Not only will the layoffs hurt the companies' brand reputations for future recruiting, they will also deflate the morale of remaining workers and dent innovation."Every time I see a notice in the news that such and such technology company has cut X percentage of their workforce, I don't forget that," Danny Allan, chief technology officer at software firm Veeam. "So you're sending a message that also has a brand impact that you don't necessarily want to be associated with."Employees remember and people looking for jobs remember how organizations acted during the economic downturn."Layoffs do more than strip people of their livelihoodsResearch published in the Harvard Business Review shows that a layoff's short-term cost savings to a company are obscured by the negative press, loss of institutional knowledge, reduced engagement, higher voluntary turnover, and lower innovation — all of which hit the company's bottom line.One possible explanation for recent spate of mass layoffs is irresponsible hiring, according to Richard Mabey, CEO of contract automation platform Juro, driven by firms over-extending during the boom times."The layoffs that are now happening seem to be, not in all cases but in some cases, corrections to that behavior of excess which has happened over the last couple of years, while money has been cheap and easy," he said. Mabey said that cutting certain teams blindly will lead to slow growth in those areas, affecting future revenue negatively because it's "short-term cash saving, medium-term pain." Even if layoffs are financially sensible, they can hurt a company's reputation and longer-term growth."One is simply the loss of innovation, cutting resources," said Allan. "You're cutting your investment in future technology, that's number one. Number two, when you cut 10% of your workforce, you're sending the message to your employees that we care more about money than we do about you. "And employees have a long memory, so if you're cutting people that uncertainty is very disconcerting." Clare DeNicola, a principal at the10company, a strategic communications consulting firm, told Insider that the recent tech layoffs are likely to harm these companies' employer brands because of the way they've been mismanaged, which has drawn bad publicity.One engineering manager at Google who'd been with the company for more than 16-and-½ years wrote on LinkedIn that he found out he'd been laid off via an automated account deactivation at 3 a.m. He said he hadn't received any other "information" or "communication" about being let go. Even if he did receive communication, he was unable to access it because of the deactivation. Other accounts echo this experience."These seem to be particularly cold layoffs," said DeNicola. "It's surprising to me that these employers think it's OK to do that."There are steps they could have taken to make them more humane. A lesser brand and lower moraleStudies show that layoffs tend to raise surviving employees' levels of stress and anxiety and to lower their morale and sense of job satisfaction. New research suggests layoffs might also push them out the door. Visier, a human-resources analytics company, found that when employees were laid off or terminated, the likelihood that their direct colleagues would quit was 7.7% higher than if those employees had remained. Instead of taking a hardline cutting and savings approach, tech firms should refocus on retaining loyal employees and cultivating talent, experts told Insider."The strength of the companies is on the talent you have as it's a people-based world," Allan said. "While it is true that we build technology, it's also true that technology is written by people. So the long-term sustainable differentiation of any company is the strength of the people."He added: "Giving your employees confidence and clarity of what your future holds is probably the best thing that you can be doing during any kind of economic challenge." Mabey agreed saying that "radical" honesty is the best approach. He gave an example of sharing Juro's cash balance with the employees to show what the company is spending on. He said that it helped "give people the context of the realities of the tough things that are going on." If layoffs are unavoidable then empathy is vital, both agreed. Mabey said: "It starts with understanding how extremely painful that is for an employee. It's only a little bit painful for a company, and a little bit painful for a CEO." Allan added: "I always say that employees are not resources to manage, they're individuals to value. So if you do need to lay off employees, and sometimes you do and it's the hardest part of my job, you want to help them land in a place that is good for them. "First of all, recognize they have a family and a life and are dependent on you for for for a paycheck, so help them to the maximum extent possible."An earlier version of this story appeared on November 15, 2022.Read the original article on Business Insider.....»»

Source:  nytCategory: deals~3 hr. 42 min. ago Related News

New York wants Trump sanctioned over his "meritless" claims, including that Trump Org doesn"t really exist

This is the third time Attorney General Letitia James has asked a judge to sanction the former president. New York Attorney General Letitia James, left. Former president Donald Trump, right.Getty Images NY's attorney general on Tuesday asked a Manhattan judge to sanction Trump — again. Trump, his family, and Trump Org made 'meritless' responses to NY's 2022 fraud lawsuit, the AG says. Trump claimed Trump Org can't be named in the AG's suit because it does not exist as a legal entity. New York Attorney General Letitia James is demanding cash sanctions — again — from Donald Trump.James is arguing this time around that Trump, his three eldest children, his top executives, and his company should be punished for making "improper," "demonstrably false" and "meritless" claims in their recent answers to last year's massive, $250 million fraud lawsuit.Those claims include Trump's argument — in blocks of text that repeat dozens of times throughout 5,000 pages of filings from Thursday — that the Trump Organization can't be named in the lawsuit because it's just a branding shorthand that doesn't exist as a legal entity.Lawyers for James filed a letter on Tuesday asking the Manhattan judge presiding over the looming lawsuit to consider sanctioning the Trump defendants and their lawyers "for their continued invocation of meritless legal claims."The Trump defendants' filings from Thursday are "deficient in a host of ways," wrote Kevin Wallace, senior enforcement counsel for the attorney general's office, in asking for sanctions.Trump and the other defendants denied even unimportant things that they'd admitted elsewhere, according to Wallace, and are playing dumb about things "plainly in their knowledge." Wallace gave multiple examples. One of the most noteworthy involves the attorney general's mention, in the 29th paragraph of her lawsuit, that Trump had remained de facto president of the Trump Organization during his four years in the White House.On Thursday, Trump objected to the attorney general's use of the words "Trump Organization," and then blanket-denied everything else in the 29th paragraph.But Trump has said elsewhere — and under oath — that he never stopped being president of the Trump Organization, even while president of the United States, Wallace wrote."The allegation that Mr. Trump was the 'inactive president of the Trump Organization," while in the White House, is taken directly from his own sworn testimony in Galicia v. Trump on October 18, 2021," Wallace wrote.That's a reference to Trump's deposition in a civil lawsuit brought in New York by a group of protesters, a case that settled in November."Well, I wasn't active during the time I was at 1600," Trump had said in that October 2021 deposition."I would say that I was an inactive president" of the Trump Organization, he explained. "And now I'm active again." Asked if there was ever a time when he ceased being the president of the Trump Organization, the former president had answered, "Not to my knowledge, no." Wallace also addressed the defendants' multiple "boilerplate" denials of the Trump Organization's existence as a legal entity."First, it does not directly respond to the allegations," he wrote, "and instead operates as a deflection that the Defendants use to avoid answering direct factual allegations." "Second, Eric Trump and multiple entity defendants, including The Trump Organization, Inc., and DJT Holdings LLC, have already admitted that approximately '500 separate entities collectively do business as The Trump Organization,' Wallace wrote, quoting from prior legal filings."Third, Defendants' own documents and practices demonstrate that the 'Trump Organization' is more than a mere 'shorthand' but in fact reflects how the business is organized, how its top executives are appointed, and how the business presents itself to outside parties like the public and courts."Fourth and finally, the judge presiding over the lawsuit, New York Supreme Court Justice Arthur Engoron, has already rejected that argument, according to Wallace.The attorney general's demand for sanctions will be heard Wednesday in Engoron's Manhattan courtroom.A lawyer for Trump did not immediately respond to a request for comment. Tuesday's request for sanctions against Trump is the third for James' office. The first — for failing to fully comply with James' subpoenas —was approved by Engoron in May and is currently under strenuous appeal by Trump.The second — for allegedly making "frivolous" claims against the attorney general's office — was ultimately rejected by Engoron.Read the original article on Business Insider.....»»

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