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Cerity Partners LLC grew its position in shares of Spirit AeroSystems Holdings, Inc. ( NYSE:SPR – Free Report ) by 59.2% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 119,111 shares of the aerospace company’s stock after buying an additional 44,282 shares during the quarter. Cerity Partners LLC owned 0.10% of Spirit AeroSystems worth $3,872,000 as of its most recent filing with the Securities & Exchange Commission. Several other hedge funds have also recently modified their holdings of SPR. Pentwater Capital Management LP lifted its position in shares of Spirit AeroSystems by 18,132.0% during the 2nd quarter. Pentwater Capital Management LP now owns 9,016,000 shares of the aerospace company’s stock worth $296,356,000 after buying an additional 9,066,000 shares in the last quarter. Alpine Associates Management Inc. bought a new position in shares of Spirit AeroSystems during the 3rd quarter worth approximately $77,296,000. Appian Way Asset Management LP bought a new position in shares of Spirit AeroSystems during the 2nd quarter worth approximately $39,969,000. Assenagon Asset Management S.A. lifted its position in shares of Spirit AeroSystems by 405.9% during the 2nd quarter. Assenagon Asset Management S.A. now owns 1,069,600 shares of the aerospace company’s stock worth $35,158,000 after buying an additional 858,162 shares in the last quarter. Finally, ING Groep NV bought a new position in shares of Spirit AeroSystems during the 3rd quarter worth approximately $16,817,000. Institutional investors own 93.59% of the company’s stock. Spirit AeroSystems Price Performance SPR opened at $32.32 on Friday. The company has a fifty day moving average price of $32.09 and a 200-day moving average price of $32.77. The firm has a market capitalization of $3.78 billion, a P/E ratio of -2.59 and a beta of 1.84. Spirit AeroSystems Holdings, Inc. has a one year low of $25.16 and a one year high of $37.08. Analyst Ratings Changes Several equities research analysts have recently issued reports on the stock. StockNews.com assumed coverage on shares of Spirit AeroSystems in a research note on Sunday, November 24th. They set a “sell” rating for the company. Royal Bank of Canada restated a “sector perform” rating and set a $37.25 price target on shares of Spirit AeroSystems in a research note on Tuesday, August 20th. One research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, Spirit AeroSystems has an average rating of “Hold” and an average price target of $35.67. Get Our Latest Stock Analysis on SPR Spirit AeroSystems Company Profile ( Free Report ) Spirit AeroSystems Holdings, Inc engages in the design, engineering, manufacture, and marketing of commercial aerostructures worldwide. It operates through three segments: Commercial, Defense & Space, and Aftermarket. The Commercial segment offers forward, mid, and rear fuselage sections and systems, floor beams, nacelles, struts/pylons, horizontal and vertical stabilizers, flaps and slats flight control surfaces, wing structures, and wing systems. Further Reading Want to see what other hedge funds are holding SPR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Spirit AeroSystems Holdings, Inc. ( NYSE:SPR – Free Report ). Receive News & Ratings for Spirit AeroSystems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Spirit AeroSystems and related companies with MarketBeat.com's FREE daily email newsletter .What Nebraska-Creighton series history tells us about the importance of 3-point shooting
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BOSTON — After weeks of fear and bewilderment about the drones buzzing over parts of New York and New Jersey, elected officials are urging action to identify and stop the mysterious flights. This photo provided by Trisha Bushey shows the evening sky and points of light Dec. 5 near Lebanon Township, N.J. Trisha Bushey “There’s a lot of us who are pretty frustrated right now,” Rep. Jim Himes, D-Conn., the top Democrat on the House Intelligence Committee, said on “Fox News Sunday.” “'We don’t know’ is not a good enough answer,” he said. National security officials have said the drones don’t appear to be a sign of foreign interference or a public safety threat. But because they can’t say with certainty who is responsible for the sudden swarms of drones over parts of New Jersey, New York and other eastern parts of the U.S. — or how they can be stopped — has led leaders of both political parties to demand better technology and powers to deal with the drones. People are also reading... Sen. Chuck Schumer called Sunday for the U.S. Department of Homeland Security to deploy better drone-tracking technology to identify the drones and their operators. “New Yorkers have tremendous questions about it,” Schumer, the Senate Majority leader, told reporters about the drone sightings. “We are going to get the answers for them.” The federal government did little to answer those questions in its own media briefings Sunday morning. “There’s no question that people are seeing drones,” U.S. Homeland Security Secretary Alejandro Mayorkas told ABC’s George Stephanopoulos. “But I want to assure the American public that we are on it. We are working in close coordination with state and local authorities.” Some of the drones reported above parts of New York and New Jersey have turned out to be “manned aircraft that are commonly mistaken for drones,” Mayorkas said. “We know of no foreign involvement with respect to the sightings in the Northeast. And we are vigilant in investigating this matter.” Listen now and subscribe: Apple Podcasts | Spotify | RSS Feed | SoundStack | All Of Our Podcasts Last year, federal aviation rules began requiring certain drones to broadcast their remote identification, including the location of their operators. It’s not clear whether that information has been used to determine who is behind the drones plaguing locations over New York and New Jersey. Mayorkas’ office didn’t respond to questions about whether they’ve been able to identify drones using this capability. Schumer wants the federal government to use a recently declassified radio wave technology in New York and New Jersey. The radio wave detector can be attached to a drone or airplane and can determine whether another flying object is a bird or a drone, read its electronic registration, and follow it back to its landing place. Schumer said state and local authorities do not have the authority to track drones. On Sunday, New York Gov. Kathy Hochul said federal officials were sending a drone detection system to the state. “This system will support state and federal law enforcement in their investigations,” Hochul said in a statement. The governor did not immediately provide additional details, including where the system will be deployed. Dozens of mysterious nighttime flights started last month over parts of New Jersey, raising concerns among residents and officials. Part of the worry stems from the flying objects initially being spotted near the Picatinny Arsenal, a U.S. military research and manufacturing facility and over President-elect Donald Trump’s golf course in Bedminster. Drones are legal in New Jersey for recreational and commercial use, but they are subject to local and Federal Aviation Administration regulations and flight restrictions. Operators must be FAA certified. Drones are now being reported all along the northern East Coast, with suspicious sightings in Connecticut, Massachusetts, Pennsylvania and Virginia, according to news reports. Some U.S. political leaders, including Trump, have called for stronger action against these drones, including shooting them down. Certain agencies within the Department of Homeland Security have the power to “incapacitate” drones, Mayorkas said Sunday. “But we need those authorities expanded,” he said. A bill before the U.S. Senate would enhance some federal agencies’ authority and give new abilities to local and state agencies to track drones. It would also start a pilot program allowing states and local authorities to disrupt, disable or seize a drone without prior consent of the operator. “What the drone issue points out are gaps in our agencies, gaps in our authorities between the Department of Homeland Security, local law enforcement, the Defense Department.," said Rep. Mike Waltz, R-Fla., Trump’s pick to be his national security adviser, speaking on CBS’ “Face the Nation” on Sunday. "Americans are finding it hard to believe we can’t figure out where these are coming from.’’ Here are the people Trump picked for key positions so far President-elect Donald Trump Among President-elect Donald Trump's picks are Susie Wiles for chief of staff, Florida Sen. Marco Rubio for secretary of state, former Democratic House member Tulsi Gabbard for director of national intelligence and Florida Rep. Matt Gaetz for attorney general. Evan Vucci, Associated Press Susie Wiles, White House Chief of Staff Susie Wiles, 67, was a senior adviser to Trump's 2024 presidential campaign and its de facto manager. Evan Vucci, Associated Press Marco Rubio, Secretary of State Trump named Florida Sen. Marco Rubio to be secretary of state, making a former sharp critic his choice to be the new administration's top diplomat.Rubio, 53, is a noted hawk on China, Cuba and Iran, and was a finalist to be Trump's running mate on the Republican ticket last summer. Rubio is the vice chairman of the Senate Intelligence Committee and a member of the Senate Foreign Relations Committee.“He will be a strong Advocate for our Nation, a true friend to our Allies, and a fearless Warrior who will never back down to our adversaries,” Trump said of Rubio in a statement.The announcement punctuates the hard pivot Rubio has made with Trump, whom the senator called a “con man" during his unsuccessful campaign for the 2016 GOP presidential nomination.Their relationship improved dramatically while Trump was in the White House. And as Trump campaigned for the presidency a third time, Rubio cheered his proposals. For instance, Rubio, who more than a decade ago helped craft immigration legislation that included a path to citizenship for people in the U.S. illegally, now supports Trump's plan to use the U.S. military for mass deportations. Wilfredo Lee, Associated Press Pete Hegseth, Secretary of Defense Pete Hegseth, 44, is a co-host of Fox News Channel’s “Fox & Friends Weekend” and has been a contributor with the network since 2014, where he developed a friendship with Trump, who made regular appearances on the show.Hegseth lacks senior military or national security experience. If confirmed by the Senate, he would inherit the top job during a series of global crises — ranging from Russia’s war in Ukraine and the ongoing attacks in the Middle East by Iranian proxies to the push for a cease-fire between Israel, Hamas and Hezbollah and escalating worries about the growing alliance between Russia and North Korea.Hegseth is also the author of “The War on Warriors: Behind the Betrayal of the Men Who Keep Us Free,” published earlier this year. George Walker IV, Associated Press Pam Bondi, Attorney General Trump tapped Pam Bondi, 59, to be attorney general after U.S. Rep. Matt Gaetz withdrew his name from consideration.She was Florida's first female attorney general, serving between 2011 and 2019. She also was on Trump’s legal team during his first impeachment trial in 2020.Considered a loyalist, she served as part of a Trump-allied outside group that helped lay the groundwork for his future administration called the America First Policy Institute.Bondi was among a group of Republicans who showed up to support Trump at his hush money criminal trial in New York that ended in May with a conviction on 34 felony counts. A fierce defender of Trump, she also frequently appears on Fox News and has been a critic of the criminal cases against him. Derik Hamilton Kristi Noem, Secretary of Homeland Security Trump picked South Dakota Gov. Kristi Noem, a well-known conservative who faced sharp criticism for telling a story in her memoir about shooting a rambunctious dog, to lead an agency crucial to the president-elect’s hardline immigration agenda.Noem used her two terms leading a tiny state to vault to a prominent position in Republican politics.South Dakota is usually a political afterthought. But during the COVID-19 pandemic, Noem did not order restrictions that other states had issued and instead declared her state “open for business.” Trump held a fireworks rally at Mount Rushmore in July 2020 in one of the first large gatherings of the pandemic.She takes over a department with a sprawling mission. In addition to key immigration agencies, the Department of Homeland Security oversees natural disaster response, the U.S. Secret Service, and Transportation Security Administration agents who work at airports. Matt Rourke, Associated Press Doug Burgum, Secretary of the Interior The governor of North Dakota, who was once little-known outside his state, Burgum is a former Republican presidential primary contender who endorsed Trump, and spent months traveling to drum up support for him, after dropping out of the race.Burgum was a serious contender to be Trump’s vice presidential choice this summer. The two-term governor was seen as a possible pick because of his executive experience and business savvy. Burgum also has close ties to deep-pocketed energy industry CEOs.Trump made the announcement about Burgum joining his incoming administration while addressing a gala at his Mar-a-Lago club, and said a formal statement would be coming the following day.In comments to reporters before Trump took the stage, Burgum said that, in recent years, the power grid is deteriorating in many parts of the country, which he said could raise national security concerns but also drive up prices enough to increase inflation.“There's just a sense of urgency, and a sense of understanding in the Trump administration,” Burgum said. AP Photo/Alex Brandon Robert F. Kennedy Jr., Secretary of Health and Human Services Robert F. Kennedy Jr. ran for president as a Democrat, than as an independent, and then endorsed Trump. He's the son of Democratic icon Robert Kennedy, who was assassinated during his own presidential campaign.The nomination of Kennedy to lead the Department of Health and Human Services alarmed people who are concerned about his record of spreading unfounded fears about vaccines. For example, he has long advanced the debunked idea that vaccines cause autism. Evan Vucci, Associated Press Scott Bessent, Treasury Secretary Scott Bessent, 62, is a former George Soros money manager and an advocate for deficit reduction.He's the founder of hedge fund Key Square Capital Management, after having worked on-and-off for Soros Fund Management since 1991. If confirmed by the Senate, he would be the nation’s first openly gay treasury secretary.He told Bloomberg in August that he decided to join Trump’s campaign in part to attack the mounting U.S. national debt. That would include slashing government programs and other spending.“This election cycle is the last chance for the U.S. to grow our way out of this mountain of debt without becoming a sort of European-style socialist democracy,” he said then. Matt Kelley, Associated Press Lori Chavez-DeRemer, Labor Secretary Oregon Republican U.S. Rep. Lori Chavez-DeRemer narrowly lost her reelection bid this month, but received strong backing from union members in her district.As a potential labor secretary, she would oversee the Labor Department’s workforce, its budget and put forth priorities that impact workers’ wages, health and safety, ability to unionize, and employer’s rights to fire employers, among other responsibilities.Chavez-DeRemer is one of few House Republicans to endorse the “Protecting the Right to Organize” or PRO Act would allow more workers to conduct organizing campaigns and would add penalties for companies that violate workers’ rights. The act would also weaken “right-to-work” laws that allow employees in more than half the states to avoid participating in or paying dues to unions that represent workers at their places of employment. Andrew Harnik, Associated Press Scott Turner, Housing and Urban Development Scott Turner is a former NFL player and White House aide. He ran the White House Opportunity and Revitalization Council during Trump’s first term in office. Trump, in a statement, credited Turner, the highest-ranking Black person he’s yet selected for his administration, with “helping to lead an Unprecedented Effort that Transformed our Country’s most distressed communities.” Andrew Harnik, Associated Press Sean Duffy, Secretary of Transportation Sean Duffy is a former House member from Wisconsin who was one of Trump's most visible defenders on cable news. Duffy served in the House for nearly nine years, sitting on the Financial Services Committee and chairing the subcommittee on insurance and housing. He left Congress in 2019 for a TV career and has been the host of “The Bottom Line” on Fox Business.Before entering politics, Duffy was a reality TV star on MTV, where he met his wife, “Fox and Friends Weekend” co-host Rachel Campos-Duffy. They have nine children. Jacquelyn Martin, Associated Press Chris Wright, Secretary of Energy A campaign donor and CEO of Denver-based Liberty Energy, Write is a vocal advocate of oil and gas development, including fracking — a key pillar of Trump’s quest to achieve U.S. “energy dominance” in the global market.Wright also has been one of the industry’s loudest voices against efforts to fight climate change. He said the climate movement around the world is “collapsing under its own weight.” The Energy Department is responsible for advancing energy, environmental and nuclear security of the United States.Wright also won support from influential conservatives, including oil and gas tycoon Harold Hamm. Hamm, executive chairman of Oklahoma-based Continental Resources, a major shale oil company, is a longtime Trump supporter and adviser who played a key role on energy issues in Trump’s first term. Andy Cross, The Denver Post via AP Linda McMahon, Secretary of Education President-elect Donald Trump tapped billionaire professional wrestling mogul Linda McMahon to be secretary of the Education Department, tasked with overseeing an agency Trump promised to dismantle.McMahon led the Small Business Administration during Trump’s initial term from 2017 to 2019 and twice ran unsuccessfully as a Republican for the U.S. Senate in Connecticut.She’s seen as a relative unknown in education circles, though she expressed support for charter schools and school choice. She served on the Connecticut Board of Education for a year starting in 2009 and has spent years on the board of trustees for Sacred Heart University in Connecticut. Manuel Balce Ceneta, Associated Press Brooke Rollins, Secretary of Agriculture Brooke Rollins, who graduated from Texas A&M University with a degree in agricultural development, is a longtime Trump associate who served as White House domestic policy chief during his first presidency.The 52-year-old is president and CEO of the America First Policy Institute, a group helping to lay the groundwork for a second Trump administration. She previously served as an aide to former Texas Gov. Rick Perry and ran a think tank, the Texas Public Policy Foundation. Evan Vucci Howard Lutnick, Secretary of Commerce Trump chose Howard Lutnick, head of brokerage and investment bank Cantor Fitzgerald and a cryptocurrency enthusiast, as his nominee for commerce secretary, a position in which he'd have a key role in carrying out Trump's plans to raise and enforce tariffs.Trump made the announcement Tuesday on his social media platform, Truth Social.Lutnick is a co-chair of Trump’s transition team, along with Linda McMahon, the former wrestling executive who previously led Trump’s Small Business Administration. Both are tasked with putting forward candidates for key roles in the next administration.The nomination would put Lutnick in charge of a sprawling Cabinet agency that is involved in funding new computer chip factories, imposing trade restrictions, releasing economic data and monitoring the weather. It is also a position in which connections to CEOs and the wider business community are crucial. AP Photo/Evan Vucci Trump Transition FILE - Former Rep. Doug Collins speaks before Republican presidential nominee former President Donald Trump at a campaign event at the Cobb Energy Performing Arts Centre, Oct. 15, 2024, in Atlanta. John Bazemore - staff, ASSOCIATED PRESS Karoline Leavitt, White House press secretary Karoline Leavitt, 27, was Trump's campaign press secretary and currently a spokesperson for his transition. She would be the youngest White House press secretary in history.The White House press secretary typically serves as the public face of the administration and historically has held daily briefings for the press corps.Leavitt, a New Hampshire native, was a spokesperson for MAGA Inc., a super PAC supporting Trump, before joining his 2024 campaign. In 2022, she ran for Congress in New Hampshire, winning a 10-way Republican primary before losing to Democratic Rep. Chris Pappas.Leavitt worked in the White House press office during Trump's first term before she became communications director for New York Republican Rep. Elise Stefanik, Trump's choice for U.S. ambassador to the United Nations. Ted Shaffrey, Associated Press Tulsi Gabbard, National Intelligence Director Former Hawaii Rep. Tulsi Gabbard has been tapped by Trump to be director of national intelligence, keeping with the trend to stock his Cabinet with loyal personalities rather than veteran professionals in their requisite fields.Gabbard, 43, was a Democratic House member who unsuccessfully sought the party's 2020 presidential nomination before leaving the party in 2022. She endorsed Trump in August and campaigned often with him this fall.“I know Tulsi will bring the fearless spirit that has defined her illustrious career to our Intelligence Community,” Trump said in a statement.Gabbard, who has served in the Army National Guard for more than two decades, deploying to Iraq and Kuwait, would come to the role as somewhat of an outsider compared to her predecessor. The current director, Avril Haines, was confirmed by the Senate in 2021 following several years in a number of top national security and intelligence positions. Evan Vucci, Associated Press John Ratcliffe, Central Intelligence Agency Director Trump has picked John Ratcliffe, a former Texas congressman who served as director of national intelligence during his first administration, to be director of the Central Intelligence Agency in his next.Ratcliffe was director of national intelligence during the final year and a half of Trump's first term, leading the U.S. government's spy agencies during the coronavirus pandemic.“I look forward to John being the first person ever to serve in both of our Nation's highest Intelligence positions,” Trump said in a statement, calling him a “fearless fighter for the Constitutional Rights of all Americans” who would ensure “the Highest Levels of National Security, and PEACE THROUGH STRENGTH.” Manuel Balce Ceneta, Associated Press Kash Patel, Federal Bureau of Investigation Director Kash Patel spent several years as a Justice Department prosecutor before catching the Trump administration’s attention as a staffer on Capitol Hill who helped investigate the Russia probe.Patel called for dramatically reducing the agency’s footprint, a perspective that sets him apart from earlier directors who sought additional resources for the bureau. Though the Justice Department in 2021 halted the practice of secretly seizing reporters’ phone records during leak investigations, Patel said he intends to aggressively hunt down government officials who leak information to reporters. José Luis Villegas, Associated Press Lee Zeldin, Environmental Protection Agency Administrator Trump has chosen former New York Rep. Lee Zeldin to serve as his pick to lead the Environmental Protection Agency.Zeldin does not appear to have any experience in environmental issues, but is a longtime supporter of the former president. The 44-year-old former U.S. House member from New York wrote on X, “We will restore US energy dominance, revitalize our auto industry to bring back American jobs, and make the US the global leader of AI.” “We will do so while protecting access to clean air and water,” he added.During his campaign, Trump often attacked the Biden administration's promotion of electric vehicles, and incorrectly referring to a tax credit for EV purchases as a government mandate. Trump also often told his audiences during the campaign his administration would “Drill, baby, drill,” referring to his support for expanded petroleum exploration.In a statement, Trump said Zeldin “will ensure fair and swift deregulatory decisions that will be enacted in a way to unleash the power of American businesses, while at the same time maintaining the highest environmental standards, including the cleanest air and water on the planet.” Matt Rourke, Associated Press Brendan Carr, Chairman of the Federal Communications Commission Trump has named Brendan Carr, the senior Republican on the Federal Communications Commission, as the new chairman of the agency tasked with regulating broadcasting, telecommunications and broadband.Carr is a longtime member of the commission and served previously as the FCC’s general counsel. He has been unanimously confirmed by the Senate three times and was nominated by both Trump and President Joe Biden to the commission.Carr made past appearances on “Fox News Channel," including when he decried Democratic Vice President Kamala Harris' pre-Election Day appearance on “Saturday Night Live.” He wrote an op-ed last month defending a satellite company owned by Trump supporter Elon Musk. Jonathan Newton - pool, ASSOCIATED PRESS Paul Atkins, Chair of the Securities and Exchange Commission Trump said Atkins, the CEO of Patomak Partners and a former SEC commissioner, was a “proven leader for common sense regulations.” In the years since leaving the SEC, Atkins has made the case against too much market regulation.“He believes in the promise of robust, innovative capital markets that are responsive to the needs of Investors, & that provide capital to make our Economy the best in the World. He also recognizes that digital assets & other innovations are crucial to Making America Greater than Ever Before,” Trump wrote on Truth Social.The commission oversees U.S. securities markets and investments and is currently led by Gary Gensler, who has been leading the U.S. government’s crackdown on the crypto industry. Gensler, who was nominated by President Joe Biden, announced last month that he would be stepping down from his post on the day that Trump is inaugurated — Jan. 20, 2025.Atkins began his career as a lawyer and has a long history working in the financial markets sector, both in government and private practice. In the 1990s, he worked on the staffs of two former SEC chairmen, Richard C. Breeden and Arthur Levitt. AP Photo/ Evan Vucci, File) Jared Isaacman, NASA Administrator Jared Isaacman, 41, is a tech billionaire who bought a series of spaceflights from Elon Musk’s SpaceX and conducted the first private spacewalk. He is the founder and CEO of a card-processing company and has collaborated closely with Musk ever since buying his first chartered SpaceX flight. He took contest winners on that 2021 trip and followed it in September with a mission where he briefly popped out the hatch to test SpaceX’s new spacewalking suits. John Raoux, Associated Press Elise Stefanik, Ambassador to the United Nations Rep. Elise Stefanik is a representative from New York and one of Trump's staunchest defenders going back to his first impeachment.Elected to the House in 2014, Stefanik was selected by her GOP House colleagues as House Republican Conference chair in 2021, when former Wyoming Rep. Liz Cheney was removed from the post after publicly criticizing Trump for falsely claiming he won the 2020 election. Stefanik, 40, has served in that role ever since as the third-ranking member of House leadership.Stefanik’s questioning of university presidents over antisemitism on their campuses helped lead to two of those presidents resigning, further raising her national profile.If confirmed, she would represent American interests at the U.N. as Trump vows to end the war waged by Russia against Ukraine begun in 2022. He has also called for peace as Israel continues its offensive against Hamas in Gaza and its invasion of Lebanon to target Hezbollah. Jose Luis Magana, Associated Press Matt Whitaker, Ambassador to NATO President-elect Donald Trump says he's chosen former acting Attorney General Matt Whitaker to serve as U.S. ambassador to NATO. Trump has expressed skepticism about the Western military alliance for years. Trump said in a statement Wednesday that Whitaker is “a strong warrior and loyal Patriot” who “will ensure the United States’ interests are advanced and defended” and “strengthen relationships with our NATO Allies, and stand firm in the face of threats to Peace and Stability.” The choice of Whitaker as the nation’s representative to the North Atlantic Treaty Organization is an unusual one, given his background is as a lawyer and not in foreign policy. Andrew Harnik, Associated Press David Perdue, Ambassador to China President-elect Donald Trump tapped former Sen. David Perdue of Georgia to be ambassador to China, saying in a social media post that the former CEO “brings valuable expertise to help build our relationship with China.” Perdue lost his Senate seat to Democrat Jon Ossoff four years ago and ran unsuccessfully in a primary against Republican Georgia Gov. Brian Kemp. Perdue pushed Trump's debunked lies about electoral fraud during his failed bid for governor. Brynn Anderson, Associated Press/Pool Mike Huckabee, Ambassador to Israel Trump will nominate former Arkansas Gov. Mike Huckabee to be ambassador to Israel.Huckabee is a staunch defender of Israel and his intended nomination comes as Trump has promised to align U.S. foreign policy more closely with Israel's interests as it wages wars against the Iran-backed Hamas and Hezbollah.“He loves Israel, and likewise the people of Israel love him,” Trump said in a statement. “Mike will work tirelessly to bring about peace in the Middle East.”Huckabee, who ran unsuccessfully for the Republican presidential nomination in 2008 and 2016, has been a popular figure among evangelical Christian conservatives, many of whom support Israel due to Old Testament writings that Jews are God’s chosen people and that Israel is their rightful homeland.Trump has been praised by some in this important Republican voting bloc for moving the U.S. embassy in Israel from Tel Aviv to Jerusalem. Oded Balilty, Associated Press Kimberly Guilfoyle, Ambassador to Greece Guilfoyle is a former California prosecutor and television news personality who led the fundraising for Trump's 2020 campaign and became engaged to Don Jr. in 2020. Trump called her “a close friend and ally” and praised her “sharp intellect make her supremely qualified.” Guilfoyle was on stage with the family on election night.“I am so proud of Kimberly. She loves America and she always has wanted to serve the country as an Ambassador. She will be an amazing leader for America First,” Don Jr. posted.The ambassador positions must be approved by the U.S. Senate.Guilfoyle said in a social media post that she was “honored to accept President Trump’s nomination to serve as the next Ambassador to Greece and I look forward to earning the support of the U.S. Senate.” AP Photo/J. Scott Applewhite Steven Witkoff, Special Envoy to the Middle East Trump on Tuesday named real estate investor Steven Witkoff to be special envoy to the Middle East.The 67-year-old Witkoff is the president-elect's golf partner and was golfing with him at Trump's club in West Palm Beach, Florida, on Sept. 15, when the former president was the target of a second attempted assassination.Witkoff “is a Highly Respected Leader in Business and Philanthropy,” Trump said of Witkoff in a statement. “Steve will be an unrelenting Voice for PEACE, and make us all proud."Trump also named Witkoff co-chair, with former Georgia Sen. Kelly Loeffler, of his inaugural committee. Evan Vucci, Associated Press Keith Kellogg, Special Envoy for Ukraine and Russia Trump said Wednesday that he will nominate Gen. Keith Kellogg to serve as assistant to the president and special envoy for Ukraine and Russia.Kellogg, a retired Army lieutenant general who has long been Trump’s top adviser on defense issues, served as National Security Advisor to Trump's former Vice President Mike Pence.For the America First Policy Institute, one of several groups formed after Trump left office to help lay the groundwork for the next Republican administration, Kellogg in April wrote that “bringing the Russia-Ukraine war to a close will require strong, America First leadership to deliver a peace deal and immediately end the hostilities between the two warring parties.”(AP Photo/Mariam Zuhaib) AP Photo/Mariam Zuhaib Mike Waltz, National Security Adviser Trump asked Rep. Michael Waltz, R-Fla., a retired Army National Guard officer and war veteran, to be his national security adviser, Trump announced in a statement Tuesday.The move puts Waltz in the middle of national security crises, ranging from efforts to provide weapons to Ukraine and worries about the growing alliance between Russia and North Korea to the persistent attacks in the Middle East by Iran proxies and the push for a cease-fire between Israel and Hamas and Hezbollah.“Mike has been a strong champion of my America First Foreign Policy agenda,” Trump's statement said, "and will be a tremendous champion of our pursuit of Peace through Strength!”Waltz is a three-term GOP congressman from east-central Florida. He served multiple tours in Afghanistan and also worked in the Pentagon as a policy adviser when Donald Rumsfeld and Robert Gates were defense chiefs.He is considered hawkish on China, and called for a U.S. boycott of the 2022 Winter Olympics in Beijing due to its involvement in the origin of COVID-19 and its mistreatment of the minority Muslim Uighur population. Ted Shaffrey, Associated Press Stephen Miller, Deputy Chief of Staff for Policy Stephen Miller, an immigration hardliner, was a vocal spokesperson during the presidential campaign for Trump's priority of mass deportations. The 39-year-old was a senior adviser during Trump's first administration.Miller has been a central figure in some of Trump's policy decisions, notably his move to separate thousands of immigrant families.Trump argued throughout the campaign that the nation's economic, national security and social priorities could be met by deporting people who are in the United States illegally. Since Trump left office in 2021, Miller has served as the president of America First Legal, an organization made up of former Trump advisers aimed at challenging the Biden administration, media companies, universities and others over issues such as free speech and national security. Evan Vucci, Associated Press Tom Homan, ‘Border Czar’ Thomas Homan, 62, has been tasked with Trump’s top priority of carrying out the largest deportation operation in the nation’s history.Homan, who served under Trump in his first administration leading U.S. Immigration and Customs Enforcement, was widely expected to be offered a position related to the border, an issue Trump made central to his campaign.Though Homan has insisted such a massive undertaking would be humane, he has long been a loyal supporter of Trump's policy proposals, suggesting at a July conference in Washington that he would be willing to "run the biggest deportation operation this country’s ever seen.”Democrats have criticized Homan for his defending Trump's “zero tolerance” policy on border crossings during his first administration, which led to the separation of thousands of parents and children seeking asylum at the border. John Bazemore, Associated Press Rodney Scott, Customs and Border Protection Commissioner Customs and Border Protection, with its roughly 60,000 employees, falls under the Department of Homeland Security. It includes the Border Patrol, which Rodney Scott led during Trump's first term, and is essentially responsible for protecting the country's borders while facilitating trade and travel.Scott comes to the job firmly from the Border Patrol side of the house. He became an agent in 1992 and spent much of his career in San Diego. When he was appointed head of the border agency in January 2020, he enthusiastically embraced Trump's policies.After being forced out under the Biden administration, Scott has been a vocal supporter of Trump's hard-line immigration agenda. He appeared frequently on Fox News and testified in Congress. He's also a senior fellow at the Texas Public Policy Foundation. Mariam Zuhaib, Associated Press Billy Long, Internal Revenue Service commissioner Former Rep. Billy Long represented Missouri in the U.S. House from 2011 to 2023. Since leaving Congress, Trump said, Long “has worked as a Business and Tax advisor, helping Small Businesses navigate the complexities of complying with the IRS Rules and Regulations.” AP file Kelly Loeffler, Small Business Administration administrator Former Georgia Sen. Kelly Loeffler was appointed in January 2020 by Georgia Gov. Brian Kemp and then lost a runoff election a year later. She started a conservative voter registration organization and dived into GOP fundraising, becoming one of the top individual donors and bundlers to Trump’s 2024 comeback campaign.Even before nominating her for agriculture secretary, the president-elect already had tapped Loeffler as co-chair of his inaugural committee. Branden Camp Dr. Mehmet Oz, Centers for Medicaid and Medicare Services administrator Dr. Mehmet Oz, 64, is a former heart surgeon who hosted “The Dr. Oz Show,” a long-running daytime television talk show. He ran unsuccessfully for the U.S. Senate as the Republican nominee in 2022 and is an outspoken supporter of Trump, who endorsed Oz's bid for elected office. Matt Rourke, Associated Press Elon Musk and Vivek Ramaswamy to advise White House on government efficiency Elon Musk, left, and Vivek Ramaswamy speak before Republican presidential nominee former President Donald Trump at an Oct. 27 campaign rally at Madison Square Garden in New York.Trump on Tuesday said Musk and former Republican presidential candidate Ramaswamy will lead a new “Department of Government Efficiency" — which is not, despite the name, a government agency.The acronym “DOGE” is a nod to Musk's favorite cryptocurrency, dogecoin. Trump said Musk and Ramaswamy will work from outside the government to offer the White House “advice and guidance” and will partner with the Office of Management and Budget to “drive large scale structural reform, and create an entrepreneurial approach to Government never seen before.” He added the move would shock government systems. It's not clear how the organization will operate.Musk, owner of X and CEO of Tesla and SpaceX, has been a constant presence at Mar-a-Lago since Trump won the presidential election. Ramaswamy suspended his campaign in January and threw his support behind Trump. Trump said the two will “pave the way for my Administration to dismantle Government Bureaucracy, slash excess regulations, cut wasteful expenditures, and restructure Federal Agencies.” Evan Vucci, Associated Press photos Russell Vought, Office of Management and Budget Russell Vought held the position during Trump’s first presidency.After Trump’s initial term ended, Vought founded the Center for Renewing America, a think tank that describes its mission as “renew a consensus of America as a nation under God.”Vought was closely involved with Project 2025, a conservative blueprint for Trump’s second term that he tried to distance himself from during the campaign.Vought has also previously worked as the executive and budget director for the Republican Study Committee, a caucus for conservative House Republicans. He also worked at Heritage Action, the political group tied to The Heritage Foundation, a conservative think tank. Evan Vucci, Associated Press Additional selections to the incoming White House Dan Scavino, deputy chief of staffScavino, whom Trump's transition referred to in a statement as one of “Trump's longest serving and most trusted aides,” was a senior adviser to Trump's 2024 campaign, as well as his 2016 and 2020 campaigns. He will be deputy chief of staff and assistant to the president.Scavino had run Trump's social media profile in the White House during his first administration. He was also held in contempt of Congress in 2022 after a month-long refusal to comply with a subpoena from the House committee’s investigation into the Jan. 6, 2021, attack on the U.S. Capitol.James Blair, deputy chief of staffBlair was political director for Trump's 2024 campaign and for the Republican National Committee. He will be deputy chief of staff for legislative, political and public affairs and assistant to the president.Blair was key to Trump's economic messaging during his winning White House comeback campaign this year, a driving force behind the candidate's “Trump can fix it” slogan and his query to audiences this fall if they were better off than four years ago.Taylor Budowich, deputy chief of staffBudowich is a veteran Trump campaign aide who launched and directed Make America Great Again, Inc., a super PAC that supported Trump's 2024 campaign. He will be deputy chief of staff for communications and personnel and assistant to the president.Budowich also had served as a spokesman for Trump after his presidency.Jay Bhattacharya, National Institutes of HealthTrump has chosen Dr. Jay Bhattacharya to lead the National Institutes of Health. Bhattacharya is a physician and professor at Stanford University School of Medicine, and is a critic of pandemic lockdowns and vaccine mandates. He promoted the idea of herd immunity during the pandemic, arguing that people at low risk should live normally while building up immunity to COVID-19 through infection. The National Institutes of Health funds medical research through competitive grants to researchers at institutions throughout the nation. NIH also conducts its own research with thousands of scientists working at its labs in Bethesda, Maryland.Dr. Marty Makary, Food and Drug AdministrationMakary is a Johns Hopkins surgeon and author who argued against pandemic lockdowns. He routinely appeared on Fox News during the COVID-19 pandemic and wrote opinion articles questioning masks for children. He cast doubt on vaccine mandates but supported vaccines generally. Makary also cast doubt on whether booster shots worked, which was against federal recommendations on the vaccine.Dr. Janette Nesheiwat, Surgeon GeneralNesheiwat is a general practitioner who serves as medical director for CityMD, a network of urgent care centers in New York and New Jersey. She has been a contributor to Fox News.Dr. Dave Weldon, U.S. Centers for Disease Control and PreventionWeldon is a former Florida congressman who recently ran for a Florida state legislative seat and lost; Trump backed Weldon’s opponent.In Congress, Weldon weighed in on one of the nation’s most heated debates of the 1990s over quality of life and a right-to-die and whether Terri Schiavo, who was in a persistent vegetative state after cardiac arrest, should have been allowed to have her feeding tube removed. He sided with the parents who did not want it removed.Jamieson Greer, U.S. trade representativeKevin Hassett, Director of the White House National Economic CouncilTrump is turning to two officials with experience navigating not only Washington but the key issues of income taxes and tariffs as he fills out his economic team. He announced he has chosen international trade attorney Jamieson Greer to be his U.S. trade representative and Kevin Hassett as director of the White House National Economic Council. While Trump has in several cases nominated outsiders to key posts, these picks reflect a recognition that his reputation will likely hinge on restoring the public’s confidence in the economy.Trump said in a statement that Greer was instrumental in his first term in imposing tariffs on China and others and replacing the trade agreement with Canada and Mexico, “therefore making it much better for American Workers.”Hassett, 62, served in the first Trump term as chairman of the Council of Economic Advisers. He has a doctorate from the University of Pennsylvania and worked at the right-leaning American Enterprise Institute before joining the Trump White House in 2017.Ron Johnson, Ambassador to MexicoJohnson — not the Republican senator — served as ambassador to El Salvador during Trump's first administration. His nomination comes as the president-elect has been threatening tariffs on Mexican imports and the mass deportation of migrants who have arrived to the U.S.-Mexico border. Johnson is also a former U.S. Army veteran and was in the Central Intelligence Agency.Tom Barrack, Ambassador to TurkeyBarrack, a wealthy financier, met Trump in the 1980s while helping negotiate Trump’s purchase of the renowned Plaza Hotel. He was charged with using his personal access to the former president to secretly promote the interests of the United Arab Emirates, but was acquitted of all counts at a federal trial in 2022.Trump called him a “well-respected and experienced voice of reason.”Andrew Ferguson, Federal Trade CommissionFerguson, who is already one of the FTC's five commissioners, will replace Lina Khan, who became a lightning rod for Wall Street and Silicon Valley by blocking billions of dollars worth of corporate acquisitions and suing Amazon and Meta while alleging anticompetitive behavior.“Andrew has a proven record of standing up to Big Tech censorship, and protecting Freedom of Speech in our Great Country,” Trump wrote on Truth Social, adding, “Andrew will be the most America First, and pro-innovation FTC Chair in our Country’s History.”Jacob Helberg, undersecretary of state for economic growth, energy and the environmentDan Bishop, deputy director for budget at the Office of Budget and ManagementLeandro Rizzuto, Ambassador to the Washington-based Organization of American StatesDan Newlin, Ambassador to ColombiaPeter Lamelas, Ambassador to Argentina Jose Luis Magana, Associated Press Kari Lake, Voice of America Trump says he’s picking Kari Lake as director of Voice of America, installing a staunch loyalist who ran unsuccessfully for Arizona governor and a Senate seat to head the congressionally funded broadcaster that provides independent news reporting around the world. Lake endeared herself to Trump through her dogmatic commitment to the falsehood that both she and Trump were the victims of election fraud. She has never acknowledged losing the gubernatorial race and called herself the “lawful governor” in her 2023 book, “Unafraid: Just Getting Started.” AP Photo/Ross D. Franklin, File Be the first to knowPM Modi Urges People To Unite To Uphold Harmony, Confront Challenges
"Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam, quis nostrud exercitation ullamco laboris nisi ut aliquip ex ea commodo consequat. Duis aute irure dolor in reprehenderit in voluptate velit esse cillum dolore eu fugiat nulla pariatur. Excepteur sint occaecat cupidatat non proident, sunt in culpa qui officia deserunt mollit anim id est laborum." Section 1.10.32 of "de Finibus Bonorum et Malorum", written by Cicero in 45 BC "Sed ut perspiciatis unde omnis iste natus error sit voluptatem accusantium doloremque laudantium, totam rem aperiam, eaque ipsa quae ab illo inventore veritatis et quasi architecto beatae vitae dicta sunt explicabo. Nemo enim ipsam voluptatem quia voluptas sit aspernatur aut odit aut fugit, sed quia consequuntur magni dolores eos qui ratione voluptatem sequi nesciunt. Neque porro quisquam est, qui dolorem ipsum quia dolor sit amet, consectetur, adipisci velit, sed quia non numquam eius modi tempora incidunt ut labore et dolore magnam aliquam quaerat voluptatem. Ut enim ad minima veniam, quis nostrum exercitationem ullam corporis suscipit laboriosam, nisi ut aliquid ex ea commodi consequatur? Quis autem vel eum iure reprehenderit qui in ea voluptate velit esse quam nihil molestiae consequatur, vel illum qui dolorem eum fugiat quo voluptas nulla pariatur?" 1914 translation by H. Rackham "But I must explain to you how all this mistaken idea of denouncing pleasure and praising pain was born and I will give you a complete account of the system, and expound the actual teachings of the great explorer of the truth, the master-builder of human happiness. No one rejects, dislikes, or avoids pleasure itself, because it is pleasure, but because those who do not know how to pursue pleasure rationally encounter consequences that are extremely painful. Nor again is there anyone who loves or pursues or desires to obtain pain of itself, because it is pain, but because occasionally circumstances occur in which toil and pain can procure him some great pleasure. To take a trivial example, which of us ever undertakes laborious physical exercise, except to obtain some advantage from it? But who has any right to find fault with a man who chooses to enjoy a pleasure that has no annoying consequences, or one who avoids a pain that produces no resultant pleasure?" 1914 translation by H. Rackham "But I must explain to you how all this mistaken idea of denouncing pleasure and praising pain was born and I will give you a complete account of the system, and expound the actual teachings of the great explorer of the truth, the master-builder of human happiness. No one rejects, dislikes, or avoids pleasure itself, because it is pleasure, but because those who do not know how to pursue pleasure rationally encounter consequences that are extremely painful. Nor again is there anyone who loves or pursues or desires to obtain pain of itself, because it is pain, but because occasionally circumstances occur in which toil and pain can procure him some great pleasure. To take a trivial example, which of us ever undertakes laborious physical exercise, except to obtain some advantage from it? But who has any right to find fault with a man who chooses to enjoy a pleasure that has no annoying consequences, or one who avoids a pain that produces no resultant pleasure?" To keep reading, please log in to your account, create a free account, or simply fill out the form below.
An Israeli airstrike on a car in the Gaza Strip on Saturday killed five people including employees of World Central Kitchen. The charity said it was “urgently seeking more details” after Israel’s military said it targeted someone who took part in last year’s October 7 attacks. In an email, WCK said it was “heartbroken” and had no knowledge any worker in the car with Hamas . The group was pausing operations in Gaza, saying it was “working with incomplete information”. Aid delivery efforts were temporarily suspended earlier this year after an Israeli strike killed seven of its workers, most of them foreigners. Prime Minister Benjamin Netanyahu ’s military said the alleged October 7 attacker had worked with WCK and it asked “senior officials from the international community and the WCK administration to clarify” how that had come about. The strike occurred in the city of Khan Younis in southern Gaza, according to Palestinian state-run news agency Wafa. Pictures circulating on social media showed a white saloon car by the side of a road, partially burned-out and with its roof caved in. Video filmed inside a mortuary also showed a number of charred possessions - including a laptop, clothing, and and ID badge - bearing the WCK logo. The violence in Gaza raged even as a ceasefire between Israel and Hezbollah appeared to be holding, despite sporadic episodes that have tested its fragility. Israel on Saturday struck what it said were Hezbollah weapons smuggling sites along Syria ’s border with Lebanon. WCK provides meals to people in need following natural disasters or to those enduring conflict. Its teams have often served as a lifeline for people in Gaza who have struggled to feed themselves.
Neuer gets sent off for 1st time and Bayern Munich exits German Cup early againOpenAI's Sora Video Generation Tool Has Been Leaked OpenAI’s Sora Leak: The Implications of Technology, Ethics, and Advocacy A storm has been brewing in the AI landscape following the unauthorized leak of OpenAI’s groundbreaking Sora model, a text-to-video generator that has been making waves for its ability to create short, high-fidelity videos with remarkable temporal stability. At the heart of the controversy is a multifaceted conflict involving technological advancement, ethical concerns, and artistic advocacy. The leak was posted on Hugging Face and was allegedly carried out by individuals involved in the testing phase – using the username “PR-Puppets” – and raises pressing questions about the relationship between innovation, labor, and corporate accountability. The leaked model, released alongside an open letter addressed to the “Corporate AI Overlords”, can purportedly produce 10-second video clips at up to 1080p resolution. What is Sora? Sora represents a significant leap in generative AI capabilities, functioning as a diffusion model to transform text prompts into videos of up to one minute. Leveraging techniques from various models, Sora offers precise text-to-visual alignment and enhanced temporal coherence. OpenAI’s vision for Sora is ambitious, positioning it as a foundational step toward achieving Artificial General Intelligence (AGI). Despite these aspirations, the technology is not without its limitations; challenges in replicating complex physics and ensuring content safety remain areas for improvement. As described on the Hugging Face discussion platform, Sora is “a mesmerizing display of technical prowess.” The model’s ability to produce “visually coherent narratives” in video form has been praised as a landmark achievement in generative AI. The Leak and Its Alleged Motivations The open-letter on Hugging Face with the leaked Sora model The leak of Sora's model appears to stem from dissatisfaction among testers and contributors, particularly those in creative industries. Critics allege that OpenAI (currently valued at over $150 billion ) exploited their labor by relying on unpaid or undercompensated contributions to refine the model. These testers, including visual artists and filmmakers, provided valuable feedback and creative input, only to allegedly find themselves excluded from equitable recognition or compensation. The 85 Best Black Friday Deals So Far, According To Our Editors 60+ Early Black Friday Deals Worth Shopping Right Now “This wasn’t just about unpaid work—it was about respect,” noted one anonymous contributor quoted in the Hugging Face commentary. “OpenAI treated our input like raw material, not creative expertise. It’s not collaboration; it’s extraction.” This act of rebellion serves as a protest against the broader commodification of creative expertise in AI development. The leak was strategically framed to highlight OpenAI's alleged disregard for the economic value of artistic labor, echoing sentiments of discontent already prevalent in the AI ethics discourse. The group stated that, after three hours, “OpenAI shut down Sora's early access temporarily for all artists.” Ethical and Legal Complications The Sora controversy also reignites debates about copyright and intellectual property. OpenAI has previously faced scrutiny over its use of copyrighted material for training purposes, claiming fair use as a defense. Although OpenAI has stated that Sora’s training data includes licensed and public datasets, the company has been reticent about specifics, leaving room for skepticism. This opacity, combined with ongoing lawsuits from creators and publishers, underscores the tensions between technological advancement and intellectual property rights. Safety concerns regarding generative AI models like Sora have prompted OpenAI to implement safeguards, including detection classifiers and content policy enforcement mechanisms. However, such measures may not suffice to address the potential misuse of the leaked model. Hugging Face commenters pointed out that “a leak of this magnitude undermines OpenAI’s efforts to enforce ethical safeguards. It puts unchecked power in the hands of anyone with access.” Broader Implications for AI and Creative Industries The Sora leak is emblematic of a larger power struggle in the age of AI. On one hand, OpenAI positions itself as a pioneer at the intersection of innovation and utility, with Sora representing a tool for democratizing video creation. On the other hand, the leak has spotlighted systemic issues, such as the undervaluation of creative labor and the ethical dilemmas surrounding AI’s reliance on human creativity. A quote from the group known as "PR-Puppets" As another contributor on Hugging Face stated, “AI doesn’t exist in a vacuum. It’s built on the shoulders of creatives who often go uncredited. The Sora leak is a wake-up call: innovation without ethics is exploitation.” For creative professionals, the leak is a double-edged sword. While it brings to light the inequities of the current system, it also risks undermining trust in collaborations between artists and technology developers. Moving forward, the incident calls for a reimagining of how corporations engage with creative communities, emphasizing transparency, fair compensation, and respect for intellectual property. A Reckoning for AI The fallout from the Sora leak offers critical lessons for the future of generative AI. As technology continues to blur the boundaries between creativity and computation, the need for ethical frameworks becomes ever more pressing. OpenAI’s handling of the situation will likely set a precedent for how organizations navigate the complex interplay of innovation, ethics, and advocacy. Ultimately, the Sora controversy is a microcosm of the broader challenges facing the AI industry: how to balance the pursuit of progress with the imperative to honor and protect the human labor that underpins it. As one observer succinctly concluded on Hugging Face, “This is more than a leak; it’s a reckoning.”
SANTA CLARA, Calif. , Dec. 3, 2024 /PRNewswire/ -- Marvell Technology, Inc. (NASDAQ: MRVL), a leader in data infrastructure semiconductor solutions, today reported financial results for the third quarter of fiscal year 2025. Net revenue for the third quarter of fiscal 2025 was $1.516 billion , $66 .0 million above the mid-point of the Company's guidance provided on August 29, 2024 . GAAP net loss for the third quarter of fiscal 2025 was $(676.3) million, or $(0.78) per diluted share. Non-GAAP net income for the third quarter of fiscal 2025 was $373 .0 million, or $0.43 per diluted share. Cash flow from operations for the third quarter was $536.3 million . "Marvell's fiscal third quarter 2025 revenue grew 19% sequentially, well above the mid-point of our guidance, driven by strong demand from AI. For the fourth quarter, we are forecasting another 19% sequential revenue growth at the midpoint of guidance, while year-over-year, we expect revenue growth to accelerate significantly to 26%, marking the beginning of a new era of growth for Marvell," said Matt Murphy , Marvell's Chairman and CEO. "The exceptional performance in the third quarter, and our strong forecast for the fourth quarter, are primarily driven by our custom AI silicon programs, which are now in volume production, further augmented by robust ongoing demand from cloud customers for our market-leading interconnect products. We look forward to a strong finish to this fiscal year and expect substantial momentum to continue in fiscal 2026." Fourth Quarter of Fiscal 2025 Financial Outlook GAAP diluted EPS is calculated using basic weighted-average shares outstanding when there is a GAAP net loss, and calculated using diluted weighted-average shares outstanding when there is a GAAP net income. Non-GAAP diluted EPS is calculated using diluted weighted-average shares outstanding. Conference Call Marvell will conduct a conference call on Tuesday, December 3, 2024 at 1:45 p.m. Pacific Time to discuss results for the third quarter of fiscal year 2025. Interested parties may join the conference call without operator assistance by registering and entering their phone number at https://emportal.ink/4fngg8m to receive an instant automated call back. To join the call with operator assistance, please dial 1-800-836-8184 or 1-646-357-8785. The call will be webcast and can be accessed at the Marvell Investor Relations website at http://investor.marvell.com/ . A replay of the call can be accessed by dialing 1-888-660-6345 or 1-646-517-4150, passcode 47973# until Tuesday, December 10, 2024 . Discussion of Non-GAAP Financial Measures Non-GAAP financial measures exclude the effect of stock-based compensation expense, amortization of acquired intangible assets, acquisition and divestiture-related costs, restructuring and other related charges (including, but not limited to, asset impairment charges, recognition of future contractual obligations, employee severance costs, and facilities related charges), resolution of legal matters, and certain expenses and benefits that are driven primarily by discrete events that management does not consider to be directly related to Marvell's core business. Although Marvell excludes the amortization of all acquired intangible assets from these non-GAAP financial measures, management believes that it is important for investors to understand that such intangible assets were recorded as part of purchase price accounting arising from acquisitions, and that such amortization of intangible assets that relate to past acquisitions will recur in future periods until such intangible assets have been fully amortized. Investors should note that the use of intangible assets contributed to Marvell's revenues earned during the periods presented and are expected to contribute to Marvell's future period revenues as well. Marvell uses a non-GAAP tax rate to compute the non-GAAP tax provision. This non-GAAP tax rate is based on Marvell's estimated annual GAAP income tax forecast, adjusted to account for items excluded from Marvell's non-GAAP income, as well as the effects of significant non-recurring and period specific tax items which vary in size and frequency, and excludes tax deductions and benefits from acquired tax loss and credit carryforwards and changes in valuation allowance on acquired deferred tax assets. Marvell's non-GAAP tax rate is determined on an annual basis and may be adjusted during the year to take into account events that may materially affect the non-GAAP tax rate such as tax law changes; acquisitions; significant changes in Marvell's geographic mix of revenue and expenses; or changes to Marvell's corporate structure. For the third quarter of fiscal 2025, a non-GAAP tax rate of 7.0% has been applied to the non-GAAP financial results. Marvell believes that the presentation of non-GAAP financial measures provides important supplemental information to management and investors regarding financial and business trends relating to Marvell's financial condition and results of operations. While Marvell uses non-GAAP financial measures as a tool to enhance its understanding of certain aspects of its financial performance, Marvell does not consider these measures to be a substitute for, or superior to, financial measures calculated in accordance with GAAP. Consistent with this approach, Marvell believes that disclosing non-GAAP financial measures to the readers of its financial statements provides such readers with useful supplemental data that, while not a substitute for GAAP financial measures, allows for greater transparency in the review of its financial and operational performance. Externally, management believes that investors may find Marvell's non-GAAP financial measures useful in their assessment of Marvell's operating performance and the valuation of Marvell. Internally, Marvell's non-GAAP financial measures are used in the following areas: Non-GAAP financial measures have limitations in that they do not reflect all of the costs associated with the operations of Marvell's business as determined in accordance with GAAP. As a result, you should not consider these measures in isolation or as a substitute for analysis of Marvell's results as reported under GAAP. The exclusion of the above items from our GAAP financial metrics does not necessarily mean that these costs are unusual or infrequent. Forward-Looking Statements under the Private Securities Litigation Reform Act of 1995 This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), which are subject to the "safe harbor" created by those sections. These statements involve known and unknown risks, uncertainties and other factors, which may cause our actual results to differ materially from those implied by the forward-looking statements. Words such as "anticipates," "expects," "intends," "plans," "projects," "believes," "seeks," "estimates," "forecasts," "targets," "may," "can," "will," "would" and similar expressions identify such forward-looking statements. Forward-looking statements contained in this press release include, but are not limited to, the statements describing our financial outlook and future period revenues. These statements are not guarantees of results and should not be considered as an indication of future activity or future performance. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Actual events or results may differ materially from those described in this press release due to a number of risks and uncertainties, including, but not limited to: risks related to changes in general macroeconomic conditions, or expectations of such conditions, such as high or rising interest rates, macroeconomic slowdowns, recessions, inflation, and stagflation; risks related to our ability to estimate customer demand and future sales accurately; our ability to define, design, develop and market products for the Cloud, 5G markets, and Artificial Intelligence (AI) markets; risks related to our dependence on a few customers for a significant portion of our revenue, particularly as our major customers comprise an increasing percentage of our revenue, as well as risks related to a significant portion of our sales being concentrated in the data center end market; risks related to higher inventory levels; risks related to cancellations, rescheduling or deferrals of significant customer orders or shipments, as well as the ability of our customers to manage inventory; our ability to realize the expected benefits from restructuring activities; the risk of downturns in the semiconductor industry or our customer end markets; the impact of international conflict (such as the current armed conflicts in the Ukraine and in Israel and the Gaza Strip ) and economic volatility in either domestic or foreign markets including risks related to trade conflicts or tensions, regulations, and tariffs, including but not limited to, trade restrictions imposed on our Chinese customers; our ability to retain and hire key personnel; our ability to limit costs related to defective products; risks related to our debt obligations; risks related to the rapid growth of the Company; delays or increased costs related to completing the design, development, production and introduction of our new products due to a variety of issues, including supply chain cross-dependencies, dependencies on EDA and similar tools, dependencies on the use of third-party, business partner or customer intellectual property, collaboration and synchronization requirements with business partners and customers, requirements to establish new manufacturing, testing, assembly and packing processes, and other issues; our reliance on our manufacturing partners for the manufacture, assembly, testing and packaging of our products; risks related to the ASIC business model which requires us to use third-party IP including the risk that we may lose business or experience reputational harm if third parties, including customers, lose confidence in our ability to protect their IP rights; the risks associated with manufacturing and selling products and customers' products outside of the United States ; our ability to secure design wins from our customers and prospective customers; our ability to complete and realize the anticipated benefits of any acquisitions, divestitures and investments; decreases in gross margin and results of operations in the future due to a number of factors, including high or increasing interest rates and volatility in foreign exchange rates; severe financial hardship or bankruptcy of one or more of our major customers; the effects of transitioning to smaller geometry process technologies; risks related to use of a hybrid work model; the impact of any change in the income tax laws in jurisdictions where we operate and the loss of any beneficial tax treatment that we currently enjoy; the outcome of pending or future litigation and legal and regulatory proceedings; risk related to our Sustainability program; the impact and costs associated with changes in international financial and regulatory conditions; our ability and the ability of our customers to successfully compete in the markets in which we serve; our ability and our customers' ability to develop new and enhanced products and the adoption of those products in the market; supply chain disruptions or component shortages that may impact the production of our products including our kitting process or may impact the price of components which in turn may impact our margins on any impacted products and any constrained availability from other electronic suppliers impacting our customers' ability to ship their products, which in turn may adversely impact our sales to those customers; our ability to scale our operations in response to changes in demand for existing or new products and services; risks associated with acquisition and consolidation activity in the semiconductor industry, including any consolidation of our manufacturing partners; our ability to protect our intellectual property; risks related to the impact of the COVID-19 pandemic (or future pandemics) which have impacted, and for which lingering effects may continue to impact our business, employees and operations, the transportation and manufacturing of our products, and the operations of our customers, distributors, vendors, suppliers, and partners; our maintenance of an effective system of internal controls; financial institution instability; and other risks detailed in our SEC filings from time to time. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties that affect our business described in the "Risk Factors" section of our Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q and other documents filed by us from time to time with the SEC. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and we assume no obligation and do not intend to update or revise these forward-looking statements, whether as a result of new information, future events or otherwise. About Marvell To deliver the data infrastructure technology that connects the world, we're building solutions on the most powerful foundation: our partnerships with our customers. Trusted by the world's leading technology companies for over 25 years, we move, store, process and secure the world's data with semiconductor solutions designed for our customers' current needs and future ambitions. Through a process of deep collaboration and transparency, we're ultimately changing the way tomorrow's enterprise, cloud, automotive, and carrier architectures transform—for the better. Marvell ® and the Marvell logo are registered trademarks of Marvell and/or its affiliates.One of the wonderful features of Christmas is how different cultures have different ways of celebrating the holiday. If you are Irish, for example, you might go to Midnight Mass or take a plunge for a Christmas Swim. Italians traditionally celebrate Christmas Eve with the insanely delicious Feast of the Seven Fishes ( La Vigilia in Italian). Germans are generally recognized as the culture that first brought us advent calendars and the Tannenbaum or Christmas tree (thank you, Martin Luther), but they also brought Krampus Nacht for the naughty children. If you are an American small government conservative, however, one Christmas tradition you always look forward to is the annual Festivus airing of grievances from Senator Rand Paul . Each year, Paul publishes a report of some of the worst examples of federal government waste ... and calls out his colleagues on both sides of the aisle while doing so. But Senator Paul may have outdone himself this year. For the first time ever, his Festivus list contains over $1 TRILLION in government waste. That's 'trillion' with a T. Are you listening, Elon Musk, Vivek Ramaswamy, and DOGE ? It's that time of year again. Happy Festivus! I've got a lot of problems with you people! And now, you're gonna hear about it. pic.twitter.com/XHyhyGueTl Paul's full report is available here , but his introduction lets everyone know that, as usual, he is pulling no punches. Last Festivus, we bemoaned the national debt nearing $34 trillion. In just a year, Washington’s career politicians and bureaucrats have managed to push it beyond $36 trillion—unsurprisingly, with hardly a second thought. Who’s to blame for our crushing national debt? Everybody. This year, members of both political parties in Congress voted for massive spending bills, filled with subsidies for underperforming industries, continued military aid to Ukraine, and controversial climate initiatives. As Congress spends to reward its favored pet projects, the American taxpayers are forced to pay through high prices and crippling interest rates. The same big spenders teamed up, yet again, to continue sending Americans’ hard-earned money to foreign countries, funding endless wars, all while STILL ignoring our wide-open southern border. And our mountain of debt will continue to pile even higher. The Congressional Budget Office predicts we will add an average of $2.1 trillion in debt annually for the next decade. According to a July House Budget Committee Report, the U.S. government will add over $6.4 billion of debt every single day for the next ten years, borrowing over $268 million every hour, $4.5 million every minute, and over $74,401 every second. This year, I am highlighting a whopping $1,008,313,329,626.12. That’s over $1 trillion in government waste, including things like ice-skating drag queens, a $12 Million Las Vegas pickleball complex, $4,840,082 on Ukrainian influencers, and more! No matter how much money the government has wasted, politicians keep demanding even more. As always, taking the path to fiscal responsibility is often a lonely journey, but I’ve been fighting government waste like DOGE before DOGE was cool. And I will continue my fight against government waste this holiday season. Paul noted some of the highlights -- or lowlights, to be more precise -- above, but Eric Daugherty was kind enough to summarize some of the ridiculous spending contained in the report. 🚨 BREAKING: Senator Rand Paul releases his yearly report on government waste - the "Festivus Report." $1 TRILLION. In government waste. Highlights of INSANE, useless spending: - $3M for "Girl-Centered Climate Action" in Brazil - $20M for a new Sesame Street show - $10K for the... pic.twitter.com/ubQziZ2dc6 Oh, you can bet that tweet continues: Yikes. Look at all of that. Maybe the Germans need to send Krampus after the naughty adults in Washington, DC. Speaking of DOGE, Paul didn't back away from telling Musk and Ramaswamy that he would hold them to their pledge. I was a one-man @DOGE before @DOGE was a gleam in the eyes of amped-up tech executives, and new media barons got behind the idea. Don't get me wrong, I'm VERY happy they're here. I passed along 2,000 pages of waste to @ElonMusk and @VivekGRamaswamy in the interest of curbing... Paul concludes that tweet with some light ribbing, saying, 'Now, they don't have to work too hard to find what I've already found.' He then listed some of his favorites from the list and took the time to throw some shade at Senator Joni Ernst while he was at it. Here are some of my favorites from this report, soon to become yours, @ElonMusk 's, @VivekGRamaswamy 's, AND @JONIERNST 's. Ok, maybe not hers. I don't know who she thinks she's kidding. She's voted for every spending bill since she got here... Read more here:... pic.twitter.com/zvzXEFdTwM OOF. As if Ernst wasn't already in hot water with conservatives . But as we said, Paul does not hold anything back just because someone might have an (R) after their name. Here are more big-ticket wasteful items Paul released in his report : Some more of the smaller, silliest items include nearly $1 million from the State Department to produce films in Jordan, $300,000 from the National Science Foundation for 'affinity group' safe spaces for bird watchers, $7 million across the federal government for magic projects (yes, magic, as in 'Abracadabra,' your tax money is gone), $10 million from the Department of Defense for cat experiments, another $250,000 from the State Department to fight 'misinformation' in Bosnia, and the list goes on for far too long. The huge dollar figure in Paul's list each year comes from interest on the national debt, which this year accounted for $890 billion in taxpayer money out the window. Paul's airing of grievances isn't limited to just spending, however. He says every year that he uses Festivus to make enemies and this year was no exception. What are some of your Festivus traditions? Tell us in the replies! I tried to get feats of strength on the Senate floor as a tradition, but since everyone else is over 80, there weren't many takers. Quick, who has the higher average age, the Senate or the top touring musical acts of 2024? They have Jagger, Richards, Springsteen, and Dylan, but we have Grassley. It's a tough call. Ouch. We are also seeing the end of an era, a new Republican Majority for the first time in nearly a century not led by Mitch McConnell. I don't want to tell Mitch it's time to retire, but his best job offer so far is a reboot of Tales from the Crypt. HAHAHAHA. Hey, maybe we ought to consider term limits, Washington. What do you think? Shots were fired at Democrats too, of course. The other Chuck (Schumer) was trying to joke with me the other day that my amendment to fix Social Security got only 3 votes. Well, Chuck, that's 3 more people who won't be sad when you're no longer the leader in January. No one will be sad to see Schumer and his raw hamburger grilling photos out of the Majority Leader position. Trump's new MAHA czar (and HHS Secretary) RFK, Jr. was in for some ribbing as well. But I can tell you this: He will pry the Diet Coke out of my cold, dead hands. And Paul welcomed in new Education Secretary Linda McMahon who has the ideal professional background for Capitol Hill. Our new Secretary of Education made her money in professional wrestling as Chair of WWE. So Linda McMahon is PERFECT for politics. They are a bunch of overamped loudmouths following their script and pretending they are shocked by the outcome. After all of the ribbing (Ted Cruz and Kevin McCarthy got some too), Paul returned to a point about which he is deadly serious. The power some of us will have must be used for good — like putting Fauci in jail. Last year, I hoped that Congress would hold Dr. Fauci accountable. Though the House tried, he's still walking around a free man. Well, he's got two new major problems for Christmas this year — I'm the incoming chairman of the Senate HSGAC committee, and I have subpoena power to... The tweet concludes, '... I have subpoena power to force him to turn over everything he's been hiding.' That Fauci monster who calls himself 'The Science' should probably be getting VERY worried right about now. Paul promised to return later tonight with more 'airing of grievances, but before he took a break away from Twitter, he did offer one final explanation for why Washington is the way it is. Of course, evil is only one part of their MO. Some of it is just sheer stupidity. Embrace the power of 'AND,' Dr. Paul. The rest of America has.