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NEW YORK (AP) — Meta, the parent company of Facebook and Instagram, said it has donated $1 million to President-elect Donald Trump's inauguration fund. The donation comes just weeks after privately at Mar-a-Lago. A Meta spokesperson confirmed the offering Thursday. The news was first reported by The Wall Street Journal. Stephen Miller, who has been appointed deputy chief of staff for Trump’s second term, has said that Zuckerberg, like other business leaders, wants to support Trump’s economic plans. The tech CEO has been seeking to change his company’s perception on the right following a rocky relationship with Trump. Trump was kicked off Facebook following the Jan. 6, 2021 attack on the U.S. Capitol. The company restored his account in early 2023. During the 2024 campaign, Zuckerberg did not endorse a candidate for president but has voiced a more positive stance toward Trump. Earlier this year, he praised Trump’s response to his first assassination attempt. Still, Trump had continued to attack Zuckerberg publicly during the campaign. In July, he posted a message on his own social network Truth Social threatening to send election fraudsters to prison in part by citing a nickname he used for the Meta CEO. “ZUCKERBUCKS, be careful!” Trump wrote. Corporations have traditionally made up a large share of donors to presidential inaugurals, with an exception in 2009, when then-President-elect Barack Obama refused to accept corporate donations. He reversed course for his second inaugural in 2013. Facebook did not donate to either Biden's 2021 inaugural or Trump’s 2017 inaugural. Google donated $285,000 each to Trump first inaugural and Biden’s inaugural, according to Federal Election Commission records. Inaugural committees are required to disclose the source of their fundraising, but not how they spend the money. Microsoft gave $1 million to Obama’s second inaugural, but only $500,000 to Trump in 2017 and Biden in 2021.“Really Tough Winning Two Majors!”: Frances Tiafoe Takes Witty Dig at Carlos Alcaraz for Calling 2024 Season ‘Challenging’
Boston Beer ( NYSE:SAM – Get Free Report ) updated its FY24 earnings guidance on Friday. The company provided earnings per share guidance of $8.00-$10.00 for the period, compared to the consensus earnings per share estimate of $9.73. Analyst Ratings Changes Several brokerages have recently commented on SAM. Jefferies Financial Group lowered shares of Boston Beer from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $355.00 to $325.00 in a report on Friday, October 25th. Deutsche Bank Aktiengesellschaft decreased their price target on Boston Beer from $281.00 to $277.00 and set a “hold” rating on the stock in a research note on Thursday, October 24th. UBS Group lifted their price objective on Boston Beer from $300.00 to $309.00 in a research note on Thursday, October 24th. Roth Mkm reissued a “buy” rating and set a $389.00 target price on shares of Boston Beer in a research note on Wednesday, October 23rd. Finally, Needham & Company LLC began coverage on Boston Beer in a report on Friday, December 6th. They set a “hold” rating for the company. One analyst has rated the stock with a sell rating, ten have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $314.82. Get Our Latest Stock Report on Boston Beer Boston Beer Stock Down 0.4 % Boston Beer Company Profile ( Get Free Report ) The Boston Beer Company, Inc produces and sells alcohol beverages primarily in the United States. The company's flagship beer is Samuel Adams Boston Lager. It offers various beers, hard ciders, flavored malt beverages, and hard seltzers under the Samuel Adams, Twisted Tea, Truly, Angry Orchard, Dogfish Head, Angel City, and Coney Island brand names. Featured Stories Receive News & Ratings for Boston Beer Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Boston Beer and related companies with MarketBeat.com's FREE daily email newsletter .
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Colorado hands No. 2 UConn second straight loss in MauiTORONTO (AP) — Canada’s most populous province may bar American-made alcohol in addition to restricting electricity exports to Michigan, New York and Minnesota if U.S. President-elect Donald Trump imposes sweeping tariffs on all Canadian products, a senior official said Thursday. Read this article for free: Already have an account? To continue reading, please subscribe: * TORONTO (AP) — Canada’s most populous province may bar American-made alcohol in addition to restricting electricity exports to Michigan, New York and Minnesota if U.S. President-elect Donald Trump imposes sweeping tariffs on all Canadian products, a senior official said Thursday. Read unlimited articles for free today: Already have an account? TORONTO (AP) — Canada’s most populous province may bar American-made alcohol in addition to restricting electricity exports to Michigan, New York and Minnesota if U.S. President-elect Donald Trump imposes sweeping tariffs on all Canadian products, a senior official said Thursday. The official in Ontario Premier Doug Ford’s government said that it’s contemplating restricting Ontario’s liquor control board from buying American-made alcohol. Ontario is also considering restricting exports of critical minerals required for electric vehicle batteries and preventing U.S.-based companies from the government’s procurement process, the official said on condition on anonymity because the functionary wasn’t authorized to speak publicly about the potential measures. Ford confirmed on Wednesday evening that Ontario is contemplating restricting electricity exports to Michigan, New York State and Minnesota. He reiterated that on Thursday and said it would make electricity unaffordable for Americans. “It’s a last resort,” Ford said. “I don’t think President-elect Trump wants that to happen. We’re sending a message to the U.S. If you come and attack Ontario, you attack livelihoods of people in Ontario and Canadians, we are going to use every tool in our tool box to defend Ontarians and Canadians. Let’s hope it never comes to that.” Trump has threatened to impose a 25% tax on all products entering the United States from Canada and Mexico unless they stem the flow of migrants and drugs. Ontario powered 1.5 million homes in the U.S. in 2023 and is a major exporter of electricity to Michigan, Minnesota and New York. “That’s OK if he that does that. That’s fine,” Trump told CNBC when asked about Ford’s remarks on the floor of the New York Stock Exchange. “The United States is subsidizing Canada and we shouldn’t have to do that,” Trump said. “And we have a great relationship. I have so many friends in Canada, but we shouldn’t have to subsidize a country. We’re subsidizing more than a $100 billion a year. We shouldn’t have to be doing that.” The CNBC reporter said off camera that Trump told him that they hope they can work something out with Canada. The premier of the oil rich Canadian province of Alberta ruled out cutting off oil exports. “Under no circumstances will Alberta agree to cut off oil and gas exports,” Alberta Premier Danielle Smith said. “Instead, we’re taking a diplomatic approach and we’re meeting with our allies in the U.S. We’re making the case for Alberta oil and gas to be part of the solution to energy affordability and energy security.” Canada supplies more oil to the U.S. than any other country. About 60% of U.S. crude oil imports are from Canada, and 85% of U.S. electricity imports as well. Canada also has 34 critical minerals and metals the Pentagon is eager for. Nearly 3.6 billion Canadian dollars ($2.7 billion) worth of goods and services cross the border each day. Canada is the top export destination for 36 U.S. states. Canada has promised more border security spending to address Trump’s border concerns. Ford said that will include more border and police officers, as well as drones and sniffer dogs. Public Safety Minister Dominic LeBlanc, who along with Prime Minister Justin Trudeau recently had dinner with Trump at Mar-a-Lago, his private club in Florida, said they plan to share details of those border plans with the incoming Trump administration in the coming days. Alberta’s government is creating a new sheriff patrol unit to shore up security at the border. It will be supported by about 50 sheriffs, 10 cold weather surveillance drones and four drug detection dogs. Alberta Public Safety Minister Mike Ellis said a two-kilometer (1.2-mile) deep zone along the border with Montana will be deemed critical infrastructure, so sheriffs can arrest without a warrant anyone found attempting to cross illegally or trafficking illegal drugs or weapons. At the Mar-a-Lago dinner, Kristen Hillman, Canada’s ambassador to the U.S., said that Washington’s trade deficit with Canada was also raised. Hillman said the U.S. had a $75 billion trade deficit with Canada last year but noted a third of what Canada sells into the U.S. is energy exports and prices have been high. Trudeau said this week that U.S.-imposed tariffs would be “absolutely devastating” for the Canadian economy, but it would also mean real hardship for Americans. Canada imposed duties in 2018 against the U.S. in a tit-for-tat response to new taxes on Canadian steel and aluminum. Canadian officials have said that it’s unfair to lump Canada in with Mexico. LeBlanc said that illegal migration from Canada to the U.S. is only 0.6% of the total, and fentanyl from Canada is 0.2% of the total of U.S. seizures. Quebec Premier Françoise Legault said that Trump told him in Paris last week that he doesn’t want to see anymore illegal immigration coming from Canada. Quebec is a major supplier of electricity to the U.S. Legault noted Trudeau’s plan to strengthen border security. “I prefer that than starting a war and stopping sending energy to the United States,” Legault said. Newfoundland Premier Andrew Furey said he had a call with New England governors this week and said there is a significant degree of concern on both sides of the border. “We hope it is just bluster,” Furey said. “We are preparing as if it is not. There will be no winner in a trade war.” Advertisement Advertisement
‘We struggled’: Ange escapes with a point on return to hostile ground as he fights for his jobCHEYENNE — Cheyenne’s fourth annual Nativity Blessing at the state Capitol drew its largest crowd yet Thursday, attended by state and local elected officials, a couple of religious leaders and members of the public. Gov. Mark Gordon, who has spoken at all three previous Nativity Blessings, was unable to attend this year due to a scheduling conflict. However, other public officials, including Secretary of State Chuck Gray, Cheyenne Republican lawmaker Rep. Daniel Singh and local pastor Nathan Winters offered their remarks for the roughly 30 people who sat in the Capitol rotunda. A towering Christmas tree decorated with handmade ornaments dominates the center of the room, with glittering wrapped presents sitting at its base. A wooden Nativity scene was placed in front of the tree, facing the Capitol’s main front doors, and seats were provided for guests near the entrance. The Cathedral of St. Mary’s Children’s Choir performed a few select pieces and, at the end of the event, led the audience in a rendition of “Silent Night.” This year, there was a theme of unity and hope that was inspired by the growing political divide in this country, said event organizer Steven Malia. “After all these elections, I mean, there’s just a lot of division and a lot of tension,” Malia told the Wyoming Tribune Eagle. “If we can have healing and cooperation and work together, maybe we can have a more peaceful union.” Politics mixed in with the meaning of Christmas as speakers reflected on the lack of cooperation among certain politicians. One repeated message was for people to not look to the government for hope, but rather God and Jesus Christ. In his message during the ceremony, Gray said society focuses too much on the “fake power” of government, such as the Roman empire. “Look at the obsession around the ‘Gladiator’ films. I mean, we got ‘Gladiator II’ out, and there’s so much focus on it,” Gray said. “But that’s fake power.” He said the “fake power of government” is what prevents people from reaching their full potential as citizens. As the new 68th Legislature gets ready to convene in a month for the 2025 general session, he said lawmakers will face their own obstacles. But they should all remember that Jesus is the truth, Gray said. “We ask for his blessing to keep us where the light is, to bless the work in this wonderful historic building, and that it will be a beacon of your true power,” Gray said. The Rev. Seth Hostetler of the Cathedral of St. Mary said hope is fundamental to society — it equips people to pursue good when times are hard. Christmas is remembering to live with hope and to seek it in God — not in elected leaders or grand technology, he said. “The problem we face now, even among Christians, is the growing fascination with our own power. ‘God helps those who help themselves’ is not in the Bible,” Hostetler said. As society progresses with majestic buildings, advanced technologies and choosing politicians to lead the way, “we start looking to ourselves for hope,” he said. It’s important to remember this Christmas season where blessings truly come from: Jesus. “How many of us during the election season spend more time watching the news than reading our Bibles? How many of us have talked more about politicians than about Jesus Christ?” Hostetler said. Former First Baptist Church of Thermopolis Pastor Nathan Winters recalled that Jesus was born to a “blue-collar couple ... on the edges of an empire known for its cruelty.” In a world of suffering and strife, he reminded members of the public to look toward heaven. “Remember the star of Bethlehem, something larger than us all,” Winters said. “Today ... we celebrate a Christmas tree pointing our way toward home, a place where we’ll all be well if we trust in Christ.”SHAREHOLDER INVESTIGATION: Halper Sadeh LLC Investigates CCRN, ENLC, MNTX on Behalf of ShareholdersDrew Angerer/Getty Images News Admittedly, I am one of the worrywarts on Seeking Alpha, especially with overvaluations on Wall Street growing ever larger after President-elect Trump's victory. 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The S&P 500 index is a benchmark used to gauge the broader U.S. market. Its 500 large-cap and megacap components come from every sector of the economy, and reflect investing categories from value to growth. As those companies account for about 80% of the value of the U.S. stock market, the S&P 500 makes a fairly good proxy for it. However, each company's weight in the index is proportional to its market cap, and some companies have in recent years grown so big that now, just a few have a disproportionate amount of influence over it. Today, more than one-third of the S&P 500's value comes from just eight companies. The "Fateful Eight" If you follow the market, it should be no surprise that the broader market has become concentrated. High-flying tech and artificial intelligence stocks surged in price, with their gains offsetting hundreds of underperformers in the S&P 500 and carrying the index to a roughly 26% broader gain in 2024 (as of Dec. 27). Over the last two years, the S&P 500 is up by more than 55%. Here are the eight stocks that now make up roughly 34.4% of the market and their weights in the S&P 500: 1. Apple ( AAPL -1.32% ) : 7.66% 2. Nvidia ( NVDA -2.09% ) : 6.71% 3. Microsoft Corp ( MSFT -1.73% ) : 6.37% 4. Amazon ( AMZN -1.45% ) : 4.16% 5. Meta Platforms ( META -0.59% ) : 2.57% 6. Tesla ( TSLA -4.95% ) : 2.48% 7. Alphabet ( GOOGL -1.45% ) ( GOOG -1.55% ) : 2.24% 8. Broadcom ( AVGO -1.47% ) : 2.24% The first seven names have become known as the "Magnificent Seven" due to their massive market shares in their industries, their fortress balance sheets, and their incredible technological innovations. However, after Broadcom's market cap recently surged past the $1 trillion mark, a group of Wall Street pundits added it to the pack, dubbing the expanded group the "Fateful Eight." Their performances this year have (with one exception) been extraordinary. TSLA data by YCharts. Every stock in the Fateful Eight except Microsoft outperformed the S&P 500 in 2024. In fact, all of those other seven have at least doubled the gains of the broader market. However, consider that 168 stocks in the S&P 500 are down for the year, while more than 70% of the names in the index have underperformed it. Does this make the broader market risky? Some might wonder if investing in the broader market is safe considering that such a large proportion of its gains have come from such a narrow group of companies. Many of the Fateful Eight trade at nosebleed valuations, making them more vulnerable to pullbacks if they deliver weak earnings or miss their guidance, or if inflation reignites. After all, Treasury yields have marched higher, and many investors pared back their expectations for interest rate cuts in 2025. One assumption is that the market's gains will eventually broaden. If the lofty valuations on the Fateful Eight normalize, the rest of the stocks in the S&P 500, which generally trade at cheaper valuations, could appreciate, offsetting the impact of that normalization. However, some market strategists now view these big tech names as defensive plays, assuming that in an economic environment featuring more inflation and fewer interest rate cuts, mere mortal companies will suffer and investors will flee to safety in the Fateful Eight. These are interesting dynamics, and I do not know what the future holds. However, I think it's important for investors to understand that when they look at some metrics intended to reflect the broader market, the picture they present is not as diverse right now as it usually is. Because of that, the S&P 500 could be susceptible to a big pullback due to its high concentration in tech mega-caps stocks. Risks remain because inflation could reignite, and a recession is also not out of the question, although economic data does not currently suggest one is imminent. For investors who are concerned about the concentration risks in the S&P 500, one option would be to invest in a fund like the Invesco S&P 500 Equal Weight ETF ( RSP -0.68% ) . Every quarter, equal-weight funds rebalance their holdings back to a condition where each company in the portfolio accounts for the same share of the total -- an even weighting not based on market cap. Equal-weighted S&P 500 funds have vastly underperformed standard S&P 500 funds this year, but they would be more resilient if the members of the Fateful Eight experience a pullback, or if the market's growth from here shifts toward the stocks that have been laggards lately.