Agreement includes collaborative research and development centered on Honeywell Anthem avionics, selection of more powerful engines, and next-generation satellite communications technologies for Bombardier aircraft Aftermarket offerings and new technologies provide Honeywell revenue potential of up to $17 billion over life of agreement All legacy pending litigation between the companies has been resolved CHARLOTTE, N.C. , Dec. 2, 2024 /PRNewswire/ -- Honeywell HON announced the signing of a strategic agreement with Bombardier, a global leader in aviation and manufacturer of world-class business jets, to provide advanced technology for current and future Bombardier aircraft in avionics, propulsion and satellite communications technologies. The collaboration will advance new technology to enable a host of high-value upgrades for the installed Bombardier operator base, as well as lay innovative foundations for future aircraft. Honeywell estimates the value of this partnership to the company at $17 billion over its life. "This is a tremendous opportunity to co-innovate and advance next generation technologies, including Anthem avionics and engines," said Vimal Kapur , Chairman and CEO of Honeywell. "Growing our long-term collaborative relationship with Bombardier is directly connected to Honeywell's focus on compelling megatrends -- automation, the future of aviation, and energy transition." "This new partnership creates unprecedented opportunities for Bombardier," said Eric Martel , President and Chief Executive Officer of Bombardier. "Honeywell's differentiated technology is the key reason we decided to collaboratively build a bright future with them." Honeywell and Bombardier will collaborate on the development of Honeywell avionics to provide unparalleled adaptability to specific mission requirements, enabling exceptional situational awareness and enhanced safety. In addition, the collaboration's propulsion-based workstreams will focus on evolutions of power, reliability and maintainability, led by the next-generation model of Honeywell's HTF7K engine. "Working together, we will generate significant value for Bombardier's operator base by providing the latest technologies to enable safe and efficient flight," said Jim Currier , President and CEO of Honeywell Aerospace Technologies. "We are committed to investing in these key technologies with Bombardier, which will not only drive substantial growth for Honeywell, but lead the industry further into the future of aviation." As part of the partnership, Bombardier and Honeywell will work together to certify and offer JetWave X for the Bombardier Global and Challenger families of aircraft for both new production and aftermarket installations. Bombardier will also have access to Honeywell's full suite of next generation L-Band satellite communications products and antennas that will provide future safety services capabilities. Additionally, all legacy pending litigation between the companies has been resolved. Honeywell Updates 2024 Outlook While the commercial agreement impacts near-term Honeywell financials, the company is confident it will lead to long-term value creation for Honeywell shareowners. Given the required investments associated with this agreement, Honeywell has updated its full-year sales, segment margin 2 , adjusted earnings per share 2,3 , and free cash flow guidance 1 . A summary is provided in the table below. TABLE 1: FULL-YEAR 2024 GUIDANCE Previous Guidance Impact of Agreement Updated Guidance Sales $38.6B - $38.8B ($0.4B) $38.2B - $38.4B Organic 1 Growth 3% - 4% ~(1%) ~2% Segment Margin 2 23.4% - 23.5% (0.8 %) 22.6% - 22.7% Expansion 2 Down 10 - Flat bps (80 bps) Down 90 - 80 bps Adjusted Earnings Per Share 2,3 $10.15 - $10.25 ($0.47) $9.68 - $9.78 Adjusted Earnings Growth 2,3 7% - 8% (5 %) 2% - 3% Operating Cash Flow $6.2B - $6.5B ($0.4B) $5.8B - $6.1B Free Cash Flow 1 $5.1B - $5.4B ($0.5B) $4.6B - $4.9B TABLE 2: FOURTH QUARTER 2024 GUIDANCE Previous Guidance Impact of Agreement Updated Guidance Sales $10.2B - $10.4B ($0.4B) $9.8B - $10.0B Organic 1 Growth 2% - 4% (4 %) (2%) - Flat Segment Margin 2 23.8% - 24.2% (2.9 %) 20.9% - 21.3% Expansion 2 Down 60 - 20 bps (290 bps) Down 350 - 310 bps Adjusted Earnings Per Share 2,3 $2.73 - $2.83 ($0.47) $2.26 - $2.36 Adjusted Earnings Growth 2,3 1% - 5% (17 %) (16%) - (12%) 1 See additional information at the end of this release regarding non-GAAP financial measures. 2 Segment margin and adjusted EPS are non-GAAP financial measures. Management cannot reliably predict or estimate, without unreasonable effort, the impact and timing on future operating results arising from certain items excluded from segment margin or adjusted EPS. We therefore, do not present a guidance range, or a reconciliation to, the nearest GAAP financial measures of operating margin or EPS. 3 Adjusted EPS and adjusted EPS V% guidance excludes items identified in the non-GAAP reconciliation of adjusted EPS at the end of this release, including the impact of amortization expense for acquisition-related intangible assets and other acquisition-related costs, and any potential future items that we cannot reliably predict or estimate such as pension mark-to-market. Bombardier, Global and Challenger are trademarks of Bombardier Inc. or its subsidiaries. Honeywell is an integrated operating company serving a broad range of industries and geographies around the world. Our business is aligned with three powerful megatrends - automation, the future of aviation, and energy transition - underpinned by our Honeywell Accelerator operating system and Honeywell Connected Enterprise integrated software platform. As a trusted partner, we help organizations solve the world's toughest, most complex challenges, providing actionable solutions and innovations that help make the world smarter, safer, and more sustainable. For more news and information on Honeywell, please visit www.honeywell.com/newsroom . Honeywell uses our Investor Relations website, www.honeywell.com/investor , as a means of disclosing information which may be of interest or material to our investors and for complying with disclosure obligations under Regulation FD. Accordingly, investors should monitor our Investor Relations website, in addition to following our press releases, SEC filings, public conference calls, webcasts, and social media. We describe many of the trends and other factors that drive our business and future results in this release. Such discussions contain forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended (the Exchange Act). Forward-looking statements are those that address activities, events, or developments that management intends, expects, projects, believes, or anticipates will or may occur in the future and include statements related to the proposed spin-off of the Company's Advanced Materials business into a stand-alone, publicly traded company. They are based on management's assumptions and assessments in light of past experience and trends, current economic and industry conditions, expected future developments, and other relevant factors, many of which are difficult to predict and outside of our control. They are not guarantees of future performance, and actual results, developments, and business decisions may differ significantly from those envisaged by our forward-looking statements. We do not undertake to update or revise any of our forward-looking statements, except as required by applicable securities law. Our forward-looking statements are also subject to material risks and uncertainties, including ongoing macroeconomic and geopolitical risks, such as lower GDP growth or recession, supply chain disruptions, capital markets volatility, inflation, and certain regional conflicts, that can affect our performance in both the near- and long-term. In addition, no assurance can be given that any plan, initiative, projection, goal, commitment, expectation, or prospect set forth in this release can or will be achieved. These forward-looking statements should be considered in light of the information included in this release, our Form 10-K, and our other filings with the Securities and Exchange Commission. Any forward-looking plans described herein are not final and may be modified or abandoned at any time. This release contains financial measures presented on a non-GAAP basis. Honeywell's non-GAAP financial measures used in this release are as follows: Segment profit, on an overall Honeywell basis; Segment profit margin, on an overall Honeywell basis; Organic sales growth; Free cash flow; and Adjusted earnings per share. Management believes that, when considered together with reported amounts, these measures are useful to investors and management in understanding our ongoing operations and in the analysis of ongoing operating trends. These measures should be considered in addition to, and not as replacements for, the most comparable GAAP measure. Certain measures presented on a non-GAAP basis represent the impact of adjusting items net of tax. The tax-effect for adjusting items is determined individually and on a case-by-case basis. Refer to the Appendix attached to this release for reconciliations of non-GAAP financial measures to the most directly comparable GAAP measures. Appendix Non-GAAP Financial Measures The following information provides definitions and reconciliations of certain non-GAAP financial measures presented in this press release to which this reconciliation is attached to the most directly comparable financial measures calculated and presented in accordance with generally accepted accounting principles (GAAP). Management believes that, when considered together with reported amounts, these measures are useful to investors and management in understanding our ongoing operations and in the analysis of ongoing operating trends. Management believes the change to adjust for amortization of acquisition-related intangibles and certain acquisition- and divestiture-related costs provides investors with a more meaningful measure of its performance period to period, aligns the measure to how management will evaluate performance internally, and makes it easier for investors to compare our performance to peers. These measures should be considered in addition to, and not as replacements for, the most comparable GAAP measure. Certain measures presented on a non-GAAP basis represent the impact of adjusting items net of tax. The tax-effect for adjusting items is determined individually and on a case-by-case basis. Other companies may calculate these non-GAAP measures differently, limiting the usefulness of these measures for comparative purposes. Management does not consider these non-GAAP measures in isolation or as an alternative to financial measures determined in accordance with GAAP. The principal limitations of these non-GAAP financial measures are that they exclude significant expenses and income that are required by GAAP to be recognized in the consolidated financial statements. In addition, they are subject to inherent limitations as they reflect the exercise of judgments by management about which expenses and income are excluded or included in determining these non-GAAP financial measures. Investors are urged to review the reconciliation of the non-GAAP financial measures to the comparable GAAP financial measures and not to rely on any single financial measure to evaluate Honeywell's business. Honeywell International Inc. Definition of Organic Sales Percent Change We define organic sales percentage as the year-over-year change in reported sales relative to the comparable period, excluding the impact on sales from foreign currency translation and acquisitions, net of divestitures, for the first 12 months following the transaction date. We believe this measure is useful to investors and management in understanding our ongoing operations and in analysis of ongoing operating trends. A quantitative reconciliation of reported sales percent change to organic sales percent change has not been provided for forward-looking measures of organic sales percent change because management cannot reliably predict or estimate, without unreasonable effort, the fluctuations in global currency markets that impact foreign currency translation, nor is it reasonable for management to predict the timing, occurrence and impact of acquisition and divestiture transactions, all of which could significantly impact our reported sales percent change. Honeywell International Inc. Reconciliation of Operating Income to Segment Profit, Calculation of Operating Income and Segment Profit Margins (Unaudited) (Dollars in millions) Three Months Ended December 31, Twelve Months Ended December 31, 2023 2023 Operating income $ 1,583 $ 7,084 Stock compensation expense 1 54 202 Repositioning, Other 2,3 569 952 Pension and other postretirement service costs 3 17 66 Amortization of acquisition-related intangibles 76 292 Acquisition-related costs 4 1 2 Segment profit $ 2,300 $ 8,598 Operating income $ 1,583 $ 7,084 ÷ Net sales $ 9,440 $ 36,662 Operating income margin % 16.8 % 19.3 % Segment profit $ 2,300 $ 8,598 ÷ Net sales $ 9,440 $ 36,662 Segment profit margin % 24.4 % 23.5 % 1 Included in Selling, general and administrative expenses. 2 Includes repositioning, asbestos, environmental expenses, equity income adjustment, and other charges. 3 Included in Cost of products and services sold and Selling, general and administrative expenses. 4 Includes acquisition-related fair value adjustments to inventory. We define operating income as net sales less total cost of products and services sold, research and development expenses, impairment of assets held for sale, and selling, general and administrative expenses. We define segment profit, on an overall Honeywell basis, as operating income, excluding stock compensation expense, pension and other postretirement service costs, amortization of acquisition-related intangibles, certain acquisition- and divestiture-related costs and impairments, and repositioning and other charges. We define segment profit margin, on an overall Honeywell basis, as segment profit divided by net sales. We believe these measures are useful to investors and management in understanding our ongoing operations and in analysis of ongoing operating trends. A quantitative reconciliation of operating income to segment profit, on an overall Honeywell basis, has not been provided for all forward-looking measures of segment profit and segment profit margin included herein. Management cannot reliably predict or estimate, without unreasonable effort, the impact and timing on future operating results arising from items excluded from segment profit, particularly pension mark-to-market expense as it is dependent on macroeconomic factors, such as interest rates and the return generated on invested pension plan assets. The information that is unavailable to provide a quantitative reconciliation could have a significant impact on our reported financial results. To the extent quantitative information becomes available without unreasonable effort in the future, and closer to the period to which the forward-looking measures pertain, a reconciliation of operating income to segment profit will be included within future filings. Acquisition amortization and acquisition- and divestiture-related costs are significantly impacted by the timing, size, and number of acquisitions or divestitures we complete and are not on a predictable cycle, and we make no comment as to when or whether any future acquisitions or divestitures may occur. We believe excluding these costs provides investors with a more meaningful comparison of operating performance over time and with both acquisitive and other peer companies. Honeywell International Inc. Reconciliation of Earnings per Share to Adjusted Earnings per Share (Unaudited) Three Months Ended December 31, Twelve Months Ended December 31, 2023 2024(E) 2023 2024(E) Earnings per share of common stock - diluted 1 $ 1.91 $2.03 - $2.13 $ 8.47 $8.76 - $8.86 Pension mark-to-market expense 2 0.19 No Forecast 0.19 No Forecast Amortization of acquisition-related intangibles 3 0.09 0.17 0.35 0.50 Acquisition-related costs 4 — 0.02 0.01 0.10 Divestiture-related costs 5 — 0.04 — 0.04 Russian-related charges 6 — — — 0.03 Net expense related to the NARCO Buyout and HWI Sale 7 — — 0.01 — Adjustment to estimated future Bendix liability 8 0.49 — 0.49 — Indefinite-lived intangible asset impairment 9 — — — 0.06 Impairment of assets held for sale 10 — — — 0.19 Adjusted earnings per share of common stock - diluted $ 2.69 $2.26 - $2.36 $ 9.52 $9.68 - $9.78 1 For the three months ended December 31, 2023, adjusted earnings per share utilizes weighted average shares of approximately 660.9 million. For the twelve months ended December 31, 2023, adjusted earnings per share utilizes weighted average shares of approximately 668.2 million. For the three and twelve months ended December 31, 2024, expected earnings per share utilizes weighted average shares of approximately 653 million and 655 million, respectively. 2 Pension mark-to-market expense uses a blended tax rate of 18%, net of tax benefit of $27 million, for 2023. 3 For the three and twelve months ended December 31, 2023, acquisition-related intangibles amortization includes $62 million and $231 million, net of tax benefit of approximately $14 million and $61 million, respectively. For the three and twelve months ended December 31, 2024, expected acquisition-related intangibles amortization includes approximately $110 million and $330 million, net of tax benefit of approximately $30 million and $85 million, respectively. 4 For the three and twelve months ended December 31, 2023, the adjustment for acquisition-related costs, which is principally comprised of third-party transaction and integration costs and acquisition-related fair value adjustments to inventory, is approximately $2 million and $7 million, net of tax benefit of approximately $0 million and $2 million, respectively. For the three and twelve months ended December 31, 2024, the expected adjustment for acquisition-related costs, which is principally comprised of third-party transaction and integration costs and acquisition-related fair value adjustments to inventory, is approximately $20 million and $65 million, net of tax benefit of approximately $5 million and $15 million, respectively. 5 For the three and twelve months ended December 31, 2024, the expected adjustment for divestiture-related costs, which is principally comprised of third-party transaction costs, is approximately $25 million, net of tax benefit of approximately $5 million. 6 For the three and twelve months ended December 31, 2023, the adjustments were a benefit of $2 million and $3 million, without tax expense, respectively. For the twelve months ended December 31, 2024, the expected adjustment is a $17 million expense, without tax benefit, due to the settlement of a contractual dispute with a Russian entity associated with the Company's suspension and wind down activities in Russia. 7 For the the twelve months ended December 31, 2023, the adjustment was $8 million, net of tax benefit of $3 million, due to the net expense related to the NARCO Buyout and HWI Sale. 8 Bendix Friction Materials ("Bendix") is a business no longer owned by the Company. In 2023, the Company changed its valuation methodology for calculating legacy Bendix liabilities. For the three and twelve months ended December 31, 2023, the adjustment was $330 million, net of tax benefit of $104 million, (or $434 million pre-tax) due to a change in the estimated liability for resolution of asserted (claims filed as of the financial statement date) and unasserted Bendix-related asbestos claims. The Company experienced fluctuations in average resolution values year-over-year in each of the past five years with no well-established trends in either direction. In 2023, the Company observed two consecutive years of increasing average resolution values (2023 and 2022), with more volatility in the earlier years of the five-year period (2019 through 2021). Based on these observations, the Company, during its annual review in the fourth quarter of 2023, reevaluated its valuation methodology and elected to give more weight to the two most recent years by shortening the look-back period from five years to two years (2023 and 2022). The Company believes that the average resolution values in the last two consecutive years are likely more representative of expected resolution values in future periods. The $434 million pre-tax amount was attributable primarily to shortening the look-back period to the two most recent years, and to a lesser extent to increasing expected resolution values for a subset of asserted claims to adjust for higher claim values in that subset than in the modelled two-year data set. It is not possible to predict whether such resolution values will increase, decrease, or stabilize in the future, given recent litigation trends within the tort system and the inherent uncertainty in predicting the outcome of such trends. The Company will continue to monitor Bendix claim resolution values and other trends within the tort system to assess the appropriate look-back period for determining average resolution values going forward. 9 For the twelve months ended December 31, 2024, the expected impairment charge of indefinite-lived intangible assets associated with the personal protective equipment business is $37 million, net of tax benefit of $11 million. 10 For the twelve months ended December 31, 2024, the expected impairment charge of assets held for sale is $125 million, with no tax benefit. Note: Amounts may not foot due to rounding. We define adjusted earnings per share as diluted earnings per share adjusted to exclude various charges as listed above. We believe adjusted earnings per share is a measure that is useful to investors and management in understanding our ongoing operations and in analysis of ongoing operating trends. For forward-looking information, management cannot reliably predict or estimate, without unreasonable effort, the pension mark-to-market expense as it is dependent on macroeconomic factors, such as interest rates and the return generated on invested pension plan assets. We therefore do not include an estimate for the pension mark-to-market expense. Based on economic and industry conditions, future developments, and other relevant factors, these assumptions are subject to change. Acquisition amortization and acquisition- and divestiture-related costs are significantly impacted by the timing, size, and number of acquisitions or divestitures we complete and are not on a predictable cycle and we make no comment as to when or whether any future acquisitions or divestitures may occur. We believe excluding these costs provides investors with a more meaningful comparison of operating performance over time and with both acquisitive and other peer companies. Honeywell International Inc. Reconciliation of Expected Cash Provided by Operating Activities to Expected Free Cash Flow (Unaudited) Twelve Months Ended December 31, 2024(E) ($B) Cash provided by operating activities ~$5.8 - $6.1 Capital expenditures ~(1.2) Free cash flow ~$4.6 - $4.9 We define free cash flow as cash provided by operating activities less cash for capital expenditures. We believe that free cash flow is a non-GAAP measure that is useful to investors and management as a measure of cash generated by operations that will be used to repay scheduled debt maturities and can be used to invest in future growth through new business development activities or acquisitions, pay dividends, repurchase stock, or repay debt obligations prior to their maturities. This measure can also be used to evaluate our ability to generate cash flow from operations and the impact that this cash flow has on our liquidity. Contacts: Media Investor Relations Stacey Jones Sean Meakim (980) 378-6258 (704) 627-6200 stacey.jones@honeywell.com sean.meakim@honeywell.com View original content to download multimedia: https://www.prnewswire.com/news-releases/honeywell-and-bombardier-sign-landmark-agreement-to-deliver-the-next-generation-of-aviation-technology-honeywell-updates-2024-outlook-302320054.html SOURCE Honeywell © 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.RICHMOND, Ky. (AP) — Matt Morrissey threw a 67-yard touchdown pass to Marcus Calwise Jr. that ended the scoring midway through the fourth quarter and Eastern Kentucky beat North Alabama 21-15 on Saturday for its fifth straight win. TJ Smith drove North Alabama to the EKU 45-yard line before he threw an interception to Mike Smith Jr. to end the game. Smith threw a 24-yard touchdown pass to Dakota Warfield to give North Alabama a 15-14 lead with 10:37 to play. Morrissey completed 9 of 15 passes for 154 yards and added 60 yards on the ground with a touchdown run. Brayden Latham added 103 yards rushing on 19 carries that included a 2-yard score for Eastern Kentucky (8-4, 6-2 United Athletic Conference). Smith was 23-of-39 passing for 325 yards with a touchdown and two interceptions for North Alabama (3-9, 2-5). Tanaka Scott had 109 yards receiving and a touchdown catch. ___ Get alerts on the latest AP Top 25 poll throughout the season. Sign up here ___ AP college football: https://apnews.com/hub/ap-top-25-college-football-poll and https://apnews.com/hub/college-football
SANTA ANA, Calif., Dec. 02, 2024 (GLOBE NEWSWIRE) -- NKGen Biotech, Inc. (Nasdaq: NKGN) (“NKGen” or the “Company”), a clinical-stage biotechnology company focused on the development and commercialization of innovative autologous and allogeneic natural killer cell therapeutics, today announced it has been selected as the preferred stalking horse bidder for NKMax Co., Ltd. (“NKMax”) in NKMax’s court-managed rehabilitation process in South Korea. NKMax filed for rehabilitation in South Korea, roughly similar to Chapter 11 in the US, on April 18, 2024, and currently holds an approximate 25% equity interest in NKGen. NKGen’s proposal included up to $18 million in committed funding from a third-party investor. As is typical in US bankruptcies, there will now be a public offering process, with NKGen having final right of first refusal on any other qualified offers, with the final decision and ultimate rehabilitation plan approved by NKMax’s creditors and the court expected in February 2025 and closing thereafter (the “Acquisition”). NKGen and its financing partners expect to hold a majority of the equity of NKMax at closing. NKMax currently holds master global rights to the intellectual property (“IP”) for troculeucel (formerly known as SNK01) and other proprietary IP that is licensed to NKGen for markets outside Asia. Such an acquisition is expected to put global rights under the control of NKGen. Prior to entering into the rehabilitation process, NKMax announced plans and commenced initial groundwork to commercialize the troculeucel treatment for Alzheimer’s and other neurodegenerative diseases in Japan and South Korea, where such NK cell treatment is legal already. Additional production capacity at NKMax’s GMP facility will be an added benefit which could help accelerate production for US trials. “As we have made tremendous progress in our clinical program especially with the launch of our phase II trial for moderate stage Alzheimer’s disease, we felt that it was essential for us to preserve the very close scientific and clinical partnership with the NKMax team, rather than have NKMax acquired by someone without any cell therapy knowledge or experience”, commented Paul Y. Song, MD, Chairman and CEO of NKGen Biotech. “As we continue to work towards US FDA approval, we will be able to begin to commercialize troculeucel in countries like Japan, Thailand, Malaysia, Mexico and others where an autologous non-genetically modified cell therapy is considered as a legal treatment and already readily available. We believe that we will be much stronger and will deliver more value for our patients and shareholders when operated as one global team.” NKGen does not believe the NKMax rehabilitation process has had any material negative impact on NKGen’s business or prospects. About Troculeucel Troculeucel is a novel cell-based, patient specific ex vivo expanded autologous natural killer (“NK”) cell, immunotherapeutic drug candidate. NKGen is developing troculeucel for the treatment of neurodegenerative disorders and a broad range of cancers. Troculeucel is the International Nonproprietary Name (“INN”) for SNK01 assigned by the World Health Organization (“WHO”). The WHO INN approval of troculeucel establishes a universally recognized nonproprietary drug name for SNK01 and marks a significant step on our journey toward bringing this therapy to market. About NKMax Founded in 2002 and headquartered in Seoul, South Korea, NKMax Co., Ltd. is a clinical-stage biotechnology company focused on advancing immune cell therapies. In addition to its therapeutic innovations, NKMax develops and commercializes bioreagents and immunodiagnostic kits, with revenues derived from these products as well as health supplements. In 2016, NKMax completed its GMP-certified manufacturing facility, and obtained approval from the Korean MFDS (Ministry of Food and Drug Safety) in 2018, strengthening its capabilities in high-quality cell therapy production. Listed on the KOSDAQ, a South Korean stock exchange, NKMax's trading has since been suspended during the course of ongoing rehabilitation efforts. About NKGen Biotech NKGen is a clinical-stage biotechnology company focused on the development and commercialization of innovative autologous and allogeneic NK cell therapeutics. NKGen is headquartered in Santa Ana, California, USA. For more information, please visit www.nkgenbiotech.com . Forward-Looking Statements Statements contained in this press release may contain “forward-looking statements” within the meaning of Section 27A of the Securities Act and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements may be identified by the use of words such as “anticipate”, “believe”, “could”, “continue”, “expect”, “estimate”, “may”, “plan”, “outlook”, “future” and “project” and other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. Because such statements are subject to risks and uncertainties, many of which are outside of the Company’s control, actual results may differ materially from those expressed or implied by such forward-looking statements. Such statements include, but are not limited to, the closing of the Acquisition, which may not close on the terms or timing anticipated, or at all, the satisfaction or waiver of any conditions to the closing of the Acquisition, the anticipated impacts or benefits of the Acquisition, the closing of the expected funding for the Acquisition, the risk of shareholder litigation in connection with the Acquisition, including resulting expense or delay; the risk that NKMax’s business will not be integrated successfully or that such integration may be more difficult, time-consuming or costly than expected, the successful and timely completion and the commercialization of troculeucel, statements regarding the Company’s plans and expected timing for developing troculeucel and SNK02, including the expected timing of completing and announcing further results from its ongoing clinical studies; and the Company’s expected timing for developing its product candidates and potential benefits of its product candidates. Risks that contribute to the uncertain nature of the forward-looking statements include: the Company’s ability to execute its plans and strategies; risks related to performing clinical studies; the risk that initial and interim results of a clinical study do not necessarily predict final results and that one or more of the clinical outcomes may materially change as patient enrollment continues, following more comprehensive reviews of the data, and as more patient data become available; potential delays in the commencement, enrollment and completion of clinical studies and the reporting of data therefrom; the risk that studies will not be completed as planned; the risk that the abstract will not be published as planned including delays in timing, format, or accessibility; and NKGen’s ability to raise additional funding to complete the development of its product candidates. These and other risks and uncertainties are described more fully under the caption “Risk Factors” and elsewhere in the Company’s filings and reports, which may be accessed for free by visiting the Securities and Exchange Commission’s website at www.sec.gov and on the Company’s website under the subheading “Investors—Financial and Filings”. Investors should take such risks into account and should not rely on forward-looking statements when making investment decisions. All forward-looking statements contained in this press release speak only as of the date on which they were made. The Company undertakes no obligation to update such statements to reflect events that occur or circumstances that exist after the date on which they were made, except as required by law. Internal Contact: Denise Chua, MBA, CLS, MLS (ASCP) SVP, Corporate Affairs 949-396-6830 dchua@nkgenbiotech.com External Contacts: Chris Calabrese Managing Director LifeSci Advisors, LLC ccalabrese@lifesciadvisors.com Kevin Gardner Managing Director LifeSci Advisors, LLC kgardner@lifesciadvisors.comPurported transgender player on San Jose State women’s volleyball team can compete in championship series, judge rulesNASA's 2 stuck astronauts face more time in space with return delayed until at least late March
Mr. Big Shot: Carson Rehkopf cracks Canada lineup a decade after busting a family applianceFollowing Hunter Biden pardon, prosecutors push back against criticism of caseNEW YORK , Dec. 17, 2024 /PRNewswire/ -- This holiday season, Monport Laser is redefining the spirit of giving with its highly anticipated "Christmas Laser Bonanza" . Known for its industry-leading laser engraving machines, Monport Laser is offering a spectacular lineup of deals, rewards, and giveaways designed to spark creativity and make every creator's holiday truly magical. Whether you're a professional engraver, a small business owner, or a DIY enthusiast, this is your chance to bring home premium laser engraving tools at unparalleled prices. A Holiday Bonanza Like No Other Monport Laser's Christmas Laser Bonanza is packed with exciting opportunities to save big, win amazing prizes, and upgrade your engraving game. With deals designed to suit a wide range of budgets and needs, this festive event ensures that no creator is left behind. 1. Massive Discounts – Save up to $5,800 on top-of-the-line CO2 laser engravers, making high-end machines more affordable than ever. 2. Tiered Savings – Enjoy additional discounts: 3. Spin to Win – Test your luck and spin the wheel for a chance to win incredible prizes, including FREE fiber laser or CO2 laser engravers ! Keep the festive spirit alive by participating during the following dates: Don't miss this limited-time opportunity to add premium laser engraving machines to your creative toolkit for free! 4. Free Laser Tube Replacement – Get a complimentary laser tube replacement six (6) months after purchasing any 100-150w CO2 Laser Machine Engraver, ensuring uninterrupted creativity and peace of mind. 5. Share & Win – Share your Monport Laser experience on social media and enter a special giveaway to win a $50 gift card – because joy is always better when shared! Celebrate Creativity This Holiday Season The Christmas Laser Bonanza is more than just a sale – it's a celebration of creativity. Monport Laser's cutting-edge machines empower creators to produce stunning custom gifts, intricate decorations, and professional-grade products. From personalized holiday ornaments to engraved keepsakes, the possibilities are endless. This festive event makes it easier than ever to turn your imagination into reality while enjoying exclusive perks. Explore a World of Possibilities Whether you're engraving glassware for holiday dinners, creating leather-bound journals as gifts, or designing wood ornaments to adorn your tree, Monport Laser machines offer unmatched precision and versatility. Beginners and professionals alike can take advantage of the advanced features, intuitive controls, and exceptional performance Monport Laser is known for. Why Monport Laser? Monport Laser stands out as a trusted leader in the laser engraving industry. With a reputation for innovation and reliability, Monport's engravers are built to handle projects of all sizes – from hobbyist creations to professional-grade production. Here's what makes Monport a top choice for creators: Join the Monport Laser Community By participating in the Christmas Laser Bonanza, you're not just upgrading your engraving tools – you're joining a vibrant community of creators who share your passion. Monport Laser is committed to supporting its customers with tutorials, resources, and dedicated support to help you unlock your full creative potential. Shop the Christmas Laser Bonanza The Christmas Laser Bonanza is available exclusively online at Monport Website and through authorized Monport Laser retailers. Whether you're shopping for yourself or searching for the perfect gift for the creator in your life, these unbeatable offers make it the ideal time to invest in premium laser engraving technology. About Monport Laser Monport Laser specializes in advanced laser engraving and cutting solutions, offering a wide range of products to meet diverse creative needs. Known for its cutting-edge technology, exceptional quality, and outstanding customer support, Monport is dedicated to fueling the creativity of its global community. With a strong focus on innovation, Monport continues to empower creators to bring their ideas to life. For more information about the Christmas Laser Bonanza, visit [ Company Website ] and discover the deals and rewards waiting for you this holiday season. View original content: https://www.prnewswire.com/news-releases/monport-laser-unwraps-the-christmas-laser-bonanza--spark-your-creativity-with-unbeatable-festive-offers-302334290.html SOURCE Monport Laser
Jason Kelce makes shock parking lot tailgate appearance as fans laugh he ‘did more than football at college’Tests keep coming for Auburn and Duke, who collide at Cameron Indoor Stadium in a typical prove-it game in a rare environment on Wednesday night. No. 2 Auburn and No. 9 Duke square off less than one month into the season as two of the most battle-tested teams in basketball. They're matched as one of the marquee games in the crossover showcase known as the ACC-SEC Challenge. Auburn (7-0) jumped two spots in the latest Top 25 poll propelled by its Maui Invitational championship. In one of Feast Week's toughest brackets, the Tigers rallied from 18 points down to beat then-No. 4 Iowa State, handled then-No. 12 North Carolina 85-72 and rolled past Memphis 90-76 in the title game. With a week off to shed any remnants of jet lag returning from the islands, Auburn head coach Bruce Pearl is pointing to another potential resume-building win. "The confidence that we're going to get from (Maui) is that we know we can play with anybody," Pearl said. "I promise you this, we'll stay humble and hungry. We will not begin to think too much of ourselves." Helping lead Auburn in Maui was fifth-year power forward Johni Broome. The tournament's MVP, Broome averaged 21.7 points, 15 rebounds, 4.3 assists and three blocks in the three-game sweep. Spearheading a veteran Tigers roster, Broome couldn't care less about individual honors. "I wanted to come to a place where the foundation was already built, and that's why I came to Auburn," Broome said. "Winning player of the year doesn't matter to me. I care about winning games, and making sure I can help my team in any way." Broome's 20.7 points and 12.9 rebounds per game lead the Tigers, while Chad Baker-Mazara adds 12.6 ppg and Denver Jones chips in 11.1. Auburn's next roadblock is earning its first-ever win against Duke. The Tigers are 0-3 all-time against the Blue Devils, including a six-point loss in the 2018 Maui Invitational. Duke (5-2) has already been through three games against ranked opponents. The Blue Devils had a 77-72 loss against then-No. 19 Kentucky, a 14-point win at then-No. 17 Arizona and a 75-72 defeat against No. 1 Kansas last week in Las Vegas. "Best team we've played so far," Pearl said of Duke. Bouncing back on Friday, the Blue Devils took down Seattle 70-48, holding the Redhawks to just 10 made field goals on 47 attempts (21.3 percent). Despite the suffocating defensive effort, Duke head coach Jon Scheyer knows his team has a long way to go. "I wasn't really happy with much tonight, to be honest," Scheyer said on Friday. "I thought we rushed some shots, had too many turnovers. We need to finish stronger, drive stronger, make extra passes, there were a whole bunch of things. ... We just need to get back to practice. In fairness to our guys, we've been traveling a lot and we just need practice time." Pacing the Blue Devils in scoring is five-star freshman Cooper Flagg. He's averaging 15.9 points per game to go along with 8.3 rebounds. Fellow freshman Kon Knueppel adds 13.4 points per contest. Far less seasoned raw freshman, big man Khaman Maluach has given Duke's interior defense an edge it was lacking last season. A projected lottery pick who can be overshadowed by the Flagg publicity train, Maluach (7-2, 248) is averaging 8.4 points, 5.0 rebounds and has two three-block games. In last year's inaugural ACC-SEC Challenge, Duke lost at Arkansas 80-75 and Auburn topped Virginia Tech 74-57. --Field Level Media
National security advisors to incoming President Donald Trump are considering in a bombing campaign. They would not be thinking this way had not Israel been remarkably successful in wiping out Iran’s air defenses. The star of the show was the F-35. Interest in the Trump camp , with Elon Musk one of the strongest voices, just took a . including the Russian supplied S-300 MPU-2, an advanced version of the S-300. It was paired with radars including the Russian Rezonans-NE which, it was claimed, could detect Israeli stealth aircraft and missiles. The S-300 interceptor missiles fly at speeds between Mach 6 and Mach 8.5. Iran acquired four S-300 systems, finally delivered in 2016. Iran also sported a large number of other air defense systems that apparently were also liquidated. The F-35 is America’s stealth tactical bomber. It is currently in production in a program that will ultimately cost the US taxpayer trillions of dollars. Because of the high price tag and numerous birthing problems, many of them centered on software code issues, top Trump people, including Elon Musk, aim to stop F-35 production and replace the stealth fighter with drones. The US has had some stealth drones for quite a while, but they are man-in-the-loop drones that require constant communications to reach their targets. The use of radio communications creates opportunities for any adversary as he can intercept the radio transmissions, locate the “stealth” drone through triangulation, and, as the Iranians proved, even grab control of the stealth drone and capture it. That’s what happened on December 5, 2011 when a US RQ-170 Sentinel stealth drone was electronically captured by the Iranians over the town of Kashmar. The Iranians knew about the use of Sentinel drones over its territory, used to track Iran’s nuclear program, but needed to find a way to intercept them. Watching the communications, they were able (probably with help from Russia) to build a controller and devised a way to grab control of the drone and land it. The Iranian pilot did fairly well, but his landing was rough and a wing was broken and the underside of the drone damaged. Even so it was a spectacular coup by Iran, and gave Iran and Russia access to a top secret platform with capabilities far greater than anything the Russians, or even the Chinese, had at the time. The RQ-170 drone program remains highly classified, but other than the B-21 Raider, it is the only stealth drone in the US inventory. The B-21 is a strategic bomber, but it is believed to be able to operate without a crew as a smart drone. The B-21 program is hugely expensive, with the price of each platform closing in on $1 billion per copy. Israel has a sizable inventory of drones —surveillance, command and control and attack types. But Israel’s Air Force (IAF) relies on manned aircraft for its operations. Israel’s version of the F-35 is called Adir (Mighty One). It is a customized version of the F-35 that includes domestically developed electronic countermeasures and does not include Lockheed’s logistics tracking system (as that would mean its aircraft would be tracked, a significant vulnerability in the F-35 program). The Adir also supports Israeli weapons, air to air weapons such as Python and standoff weapons such as the Popeye Turbo with an accuracy better than 3 meters (9.8 feet). It should not be forgotten that a key advantage of a full-sized aircraft over a drone is the weapon’s load, including smart weapons, and the ability to shift to alternative targets. Drones are much more limited, and drones that can release actual weapons (for example the Hellfire missile or small unguided weapons) don’t have the punch that a big platform brings to the table. Today’s trend is to build drones that fly along with fighter aircraft or even bombers. It remains to be seen if these newer companion drones really augment air force capabilities. Examples include the Russian Okhotnik-B S-70 and the US XQ-58A Valkyrie. While we do not know the costs (including R&D) for the Russian drone, the Valkyrie is likely priced at around $25 million a copy, about a third of the cost of the F-35. These models are unproven and their functionality in combat mostly speculative. Future drones will increasingly use artificial intelligence and synthetic mapping to hit targets, reducing if not eliminating radio communications but still relying on GPS satellites for course correction. One problem in this approach is that there is a considerable delay between an actual strike and reporting on the success of the attack, as the protection of the drone requires operating in silent mode. Probably additional drones will be needed to assess results, or satellites capable of surveying targets attacked. Israel attacked Iranian targets using non-stealth fighter aircraft such as the F-15 and F-16 and the F-35 whose main function was to take out Iran’s air defenses. Along the way Israel also crippled Iranian early warning radars in Syria and Iraq. Below is a map of the targets in Iran successfully hit by the IAF raid prepared by the Institute for the Study of War: We actually know very little about the logistics of Israel’s operation against Iran. No doubt that information is highly classified. However it is obvious that Israel’s attack, even taking into account the significant restrictions imposed by the Biden administration, was a great success. Similarly Israel was successful in knocking out Syrian air defenses, again reportedly using its F-35s. The Israeli operations in Syria and Iran are the first use of the F-35 against Russian-produced air defenses, demonstrating the value of the stealth feature of the aircraft. There is a strong lesson for potential adversaries including Russia. The Russians lacked stealth technology until recently. Russia’s Su-57 fighter bomber has recently to enhance its stealth characteristics (meaning reducing its radar signature). The Russians also are developing a more advanced stealth fighter, the Su-75 Checkmate. And Russia also is building a stealth bomber (the US already has the B-2 and is soon to deploy the B-21 Raider), the Tu-PAK-DA (expected to go into production in 2027). The Russians have also been pushing to develop technologies that can detect enemy stealth aircraft. Low observable technology is built around the idea of reducing radar signatures dramatically in X-band radar. X-band radars are the dominant type of air defense radar sets worldwide. Alternative radars, such as or , can detect stealth aircraft but they are range limited and not accurate enough for most countermeasures. (The Russians have built L Band radars and other aircraft including the Su-27, to give them an ability to detect US stealth fighters.) In the United States those who want to cancel the F-35 program will have to answer the question of why production should be stopped on the F-35, a platform that tackled Russian air defenses and an expansionist Iran and taught both of them a lesson.None
Google and the US government faced off in a federal court on Monday, as each side delivered closing arguments in a case revolving around the technology giant's alleged unfair domination of online advertising. The trial in a Virginia federal court is Google's second US antitrust case now under way as the US government tries to rein in the power of big tech. Javascript is required for you to be able to read premium content. Please enable it in your browser settings.
Gautam Adani's group BREAKS silence on reports of Kenya cancelling Rs 21109 crore deals after US charges billionaireSINGAPORE: Three mass casualty incidents that played out in just nine days - the recent spate of what seems to be “revenge on society” attacks in China are raising concerns about underlying societal issues and cannot be dismissed as isolated acts of troubled individuals, analysts told CNA. A brutal car attack in the southern city of Zhuhai on Nov 11 killed 35 people exercising at a sports stadium . Days later, a stabbing incident at a vocational college in eastern China’s Yixing city killed eight and badly injured 17 and on Tuesday (Nov 19), an SUV ploughed into students and pedestrians outside a primary school in Hunan’s Changde, where scores of children were seen fleeing in fear . While the attacker’s motives and the exact injury toll of the latest incident are still unknown, the attacks in Zhuhai and Yixing were “triggered by the dissatisfaction with the division of property following a divorce” and the “failure to obtain a diploma due to poor exam results” respectively, based on police statements. According to official statistics, violent crime in China is lower than global averages. The country’s murder rate in 2023 was 0.46 cases per 100,000 people as compared to 5.7 in the US. But the recent attacks are still raising alarm among many. In addition to the incidents in November, others have been reported in recent months, including a mass stabbing at a supermarket in Shanghai in September and a stabbing at a top school in Beijing the following month in October. ‘THE WORLD IS CRAZY’ Before posts and comments were swiftly taken down , Chinese social media users expressed anger and shock about the recent killings, asking if it was a sign of underlying issues facing society today. “They (the perpetrators) are seeking revenge on society,” remarked a user on the Sina Weibo microblogging site in a comment on a state media post about the Zhuhai car attack, which was later removed. “Why are such incidents happening every day,” asked a user on Douyin, the Chinese version of TikTok especially popular among young users. Another said bluntly: “The world is crazy.” Dr Zhao Litao, a senior research fellow at the National University of Singapore (NUS), told CNA that while it was challenging to establish a link between the rampage incidents “due to limited publicly available information”, there was a common thread – “their nature of acts as ‘social revenge’ (in which) perpetrators act on personal grievances by attacking strangers”. “Victims were often random and unrelated to the perpetrators, which highlighted the unpredictability and indiscriminate targeting involved,” he said, adding that the incidents “amplified public concern about whether the pattern reflected deeper underlying issues”. A police report shows that the 62-year-old perpetrator in Zhuhai took “social revenge” after anger over his divorce settlement. He later attempted suicide and is now in a coma. The 21-year-old suspect in the Yixing stabbing rampage vented his frustration and “attacked others after failing an exam and not receiving his graduation certificate”, according to a statement issued by the Yixing Public Security Bureau. He had also been deeply unhappy over his low internship pay, the statement added. “The complex web of personal traumas and grievances... led them to this fatalistic moment,” said Mr Barclay Bram, a Fellow on Chinese Society at the Asia Society Policy Institute’s Center for China Analysis, who has also researched mental health and psychological counselling in China. He told CNA that the “inability to find other means of resolving issues, access to weapons, and the social contagion effect of other acts of mass violence” could also be contributing factors. Dr Zhao said the attacks highlighted structural issues such as socioeconomic disparities, weakened social norms as well as gaps in psychological support. “Individual mental health challenges are often shaped by broader societal stressors. For instance, work pressures, unemployment, strained relationships, or economic disputes can escalate stress levels,” he added. “It’s critical to ask how and why individuals transition from normalcy to extremity – and what environmental or systemic conditions might be facilitating this shift.” A “sustainable approach” would require tackling the root causes of social discontent, Dr Zhao said. “Policies promoting equitable economic development, robust social safety nets, accessible mental health services and fair dispute resolution mechanisms can reduce the pressures that drive individuals to extreme actions,” he added. THE IMPORTANCE OF MENTAL HEALTH AWARENESS China’s economy is facing a number of challenges – a property crisis, steep public debt as well as rising youth unemployment rates, all of which have taken a toll on both economic and mental health. Mental health remains a growing issue in the country – with reports of people feeling stressed, burnt out , anxious and depressed . Experts have also cited issues like rising costs of living, high unemployment rates and the lack of state support amid a turbulent economy still in post-pandemic recovery. “Chinese society is under significant stress due to a slowing economy, uncertain future and an unstable global climate,” said Mr Bram, who also stressed that it was “hard to generalise across a population as large as that of China”. The long tail of the COVID-19 pandemic and public mistrust caused by the government’s harsh lockdowns “contributed to a sense of hopelessness amongst many in society”, he added. The Blue Book of National Depression, published by the Chinese Academy of Science in 2022, found that for every one million people in China, only 20 had proper access to mental health services – as compared to 1,000 Americans (per million) who enjoyed those benefits and support in the US. Experts like Dr Zhao suggested more proactive approaches to promote mental health awareness and encourage empathy. “The role of social support systems is crucial,” he said. “When individuals lack effective avenues to cope with stress or resolve disputes, their frustrations may accumulate to a breaking point.” But there was also still strong social stigma around treatment and seeking help. “Stigma often prevents individuals from seeking help, leading many to suffer in silence or keep their struggles within the family,” said Dr Jared Ng, a psychiatrist and also the Medical Director of Connections MindHealth, a clinic in Singapore which provides mental health services to a diverse clientele, including Chinese students studying abroad. Limited access to care is another challenge, Dr Ng added. “Psychological support services are concentrated in urban centres like major cities but rural areas have far fewer resources,” he said, adding that early detection and intervention was also crucial in preventing violent episodes. “Socio-economic stressors can push individuals to their breaking point and when combined with substances like drugs or alcohol, these pressures can escalate into extreme actions including harm to themselves or others.” Psychological support alone cannot solve the deep rooted issues, other experts said. “Would increased psychological support be a good thing in this case? Of course,” said Mr Bram. “(But) would it have prevented these instances of social violence altogether? Possibly not, as the dynamics involved are both specific and complex.” ADDRESSING SOCIAL DISCONTENT The violent episodes have also raised questions about the ability of the Chinese government to deal with grievances in society. Following the car attack in Zhuhai, authorities pledged to solve the root of the problem, by better handling issues such as family and property-related disputes. Though not all are buying it. “This is what happens when a government prioritises money and economic growth over the welfare of people,” read a highly rated comment on Weibo before it was deleted. “For those in power, achieving wealth and status is more important than people’s lives,” said another user. Conundrums have existed and persisted over the past decade, said Associate Professor Alfred Wu from the Lee Kuan Yew School of Public Policy (LKYSPP). “Beijing has traditionally relied on a top-down approach to governance to manage security,” Assoc Prof Wu said. “But in reality, the central government can’t actually handle so many things.” “A more effective way would be a rethink on fostering a healthy society and managing that well – including by allowing more grassroots-level initiatives,” he said. In the aftermath of recent incidents, the more immediate response from authorities was to censor information and discourse on the internet. Graphic images showing the extent of the crime scene in Zhuhai – blood and bodies lying in the street, were scrubbed off sites like Weibo and comments critical of efforts by the authorities removed. This level of censorship can be expected, experts previously told CNA, especially in the aftermath of a serious tragedy to “try and control the narrative”. A post sharing details of the most recent incident in Changde on an official procuratorate’s Douyin channel initially garnered over 4,000 comments. However, the number of comments dropped to less than 80 by the next day. Checks by CNA also found that comment sections had been disabled on Weibo a day after the incident. “Such responses (by the Chinese authorities) are largely reactive,” said Dr Zhao, adding that censorship efforts focused more on “containment after incidents occur rather than addressing root causes.” Assoc Prof Wu said that the Chinese government’s current approach has “not been to solve the problem but rather the people who voice out” – and was aimed more at “blocking” and controlling rather than “easing” the situation at hand. But some netizens also caution against oversharing and reporting news about violent incidents, out of concern that they might inspire copycat attacks. “(With a population) of 1.4 billion, there are definitely extremists,” said a user on Xiaohongshu who went by the name Yang Lm, who referenced both car attacks in Changde and Zhuhai. “This is why we shouldn’t report such incidents, there are too many copycat criminals.” There are some merits to restricting and filtering content on social media, said Dr Ng, who also agreed that it could inadvertently lead to “copycat behaviour”. “It is crucial that the content being shared does not glorify the incident,” he said. “Social media platforms have a responsibility to balance raising awareness with protecting the mental well-being of their users,” he added. While efforts by authorities like “risk mapping and enhanced surveillance” may mitigate immediate threats, they are “far from sufficient” as long-term solutions, said Dr Zhao. “The unpredictable nature of attacks makes it nearly impossible to identify all potential perpetrators in advance. Moreover, these measures risk alienating communities if perceived as overly intrusive,” he said. “Policies promoting equitable economic development, robust social safety nets and accessible mental health services can reduce the pressures that drive individuals to extreme actions.” “Building a society where people feel secure, supported and hopeful is key to preventing such tragedies.”Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) witnessed a notable decline in short interest during December. As of mid-month, short interest reached 25.45 million shares, marking a 15.5% drop from late November’s figures. Short-sold shares now make up 0.5% of the total stock, and the days-to-cover ratio stands at 1.9, based on an average daily volume of 13.68 million shares. Institutional Moves Shine Spotlight on TSMC Several hedge funds and institutional investors have been actively adjusting their positions in TSMC. Pinnacle Associates Ltd. expanded its stake by 3.6% in the second quarter, while Rothschild Investment LLC became a new investor with a significant stake. Concurrent Investment Advisors LLC boosted its holdings by 11.4%, and Commonwealth Equity Services LLC increased its stake by 10.6%, now owning over 309,000 shares valued at approximately $53.8 million. Collectively, institutional investors and hedge funds now control 16.51% of TSMC’s stock. Analyst Opinions and Market Performance Research analysts have weighed in on TSMC, with Barclays raising its target price to $240, maintaining an “overweight” rating. Meanwhile, some firms like StockNews.com have shifted to a “hold” rating. Despite mixed reviews, the overall analyst rating averages to a “Moderate Buy” with a target price near $214. Financial Gains and Dividend Growth Recently, TSMC announced a quarterly dividend increase, with shareholders scheduled to receive $0.5484 per share, an annualized yield of 1.09%. The company’s latest earnings surpassed expectations, reinforcing its strong financial standing, with a remarkable net margin of 39.10%. Given these developments, TSMC continues to be a focal point for investors navigating the semiconductor market. The Rise and Prospects of TSMC in the Semiconductor Market Taiwan Semiconductor Manufacturing Company Limited (TSMC) has positioned itself as a leader in cutting-edge semiconductor technologies. With innovations in 3nm and 5nm process nodes, TSMC continues to push the boundaries of efficiency and power in chip manufacturing, appealing to tech giants for the latest computing and mobile applications. The semiconductor market as a whole is witnessing a surge in demand driven by advancements in artificial intelligence, 5G technology, and cloud computing. TSMC is at the forefront, investing heavily in sustainable manufacturing practices. The company aims to reduce its carbon footprint and improve energy efficiency across its fabrication plants, aligning with global sustainability trends. To mitigate risks and enhance its global presence, TSMC is expanding its geographical footprint, including new facilities in the United States and investments in Europe. These strategic moves are designed to bolster supply chain resilience and reduce dependency on any single region. Market analysts predict robust growth for TSMC, supported by its technological advancements and strategic investments. As semiconductor demands soar in various industries, TSMC is well-positioned to capture a significant market share. The focus on addressing chip shortages and geopolitical tensions further strengthens its leadership outlook. Compared to rivals like Intel and Samsung, TSMC maintains a competitive edge with its ability to innovate rapidly and meet the diverse needs of clientele ranging from consumer electronics to automotive sectors. This agility allows TSMC to remain attractive to investors seeking stability and growth potential. For more information about TSMC and its ventures, visit the official TSMC website .For their last holiday season in the White House, President Joe Biden and First Lady Jill Biden decked the halls with a theme of "A Season of Peace and Light." When guests first enter the White House for holiday tours, they're greeted by a massive, rotating starlight above the East Wing. The first tree on the tour is dedicated to Gold Star Families. It's made of six oversized and stacked stars representing the branches of the military. Names of fallen service members are written on gold star ornaments on the four accompanying Christmas trees around the room, according to the White House website . Brass-colored bells suspended from archways down the East Colonnade surround guests with the "peaceful sounds of the holiday season." The White House Library is a forest of vintage ceramic Christmas trees. RELATED STORY | Capitol Christmas tree arrives in Washington after 4,000-mile journey from Alaska The ceiling of the East Room is wrapped in a canopy of reflective medallions that mimic the feeling of a peaceful snowfall. This is where guests will find the Nativity scene that has been displayed during every White House holiday season since 1967. In the Blue Room, guests will find the official White House Christmas Tree, a Fraser fir from North Carolina, on display in the center of a whimsical carousel. Every year the room's chandelier is removed to accommodate the tall Christmas trees. Military families from the USS Delaware and the USS Gabrielle Giffords, Navy vessels that First Lady Biden sponsors, made dazzling paper garlands that wrap around the State Dining Room. One of the most anticipated features every year is the Gingerbread White House. The sugary replica features a large starburst and a cheerful scene of ice skaters this year. The White House said the gingerbread masterpiece took 25 sheets of gingerbread dough, 10 sheets of sugar cookie dough, five pounds of pastillage, 45 pounds of chocolate, 50 pounds of royal icing and 10 pounds of gum paste to come to life. In total, there are 83 Christmas trees throughout the White House adorned with approximately 9,810 feet of ribbon and over 28,125 ornaments. Over 165,075 lights decorate the trees, garlands, wreaths and displays. RELATED STORY | Experts share tips on how to have a bugfree Christmas "It has been the honor of our lives to serve as your President and First Lady. Our hope is for the Nation to be blessed with the peace and light of the holiday season. We wish you a Merry Christmas and Happy Holidays," the president and first lady wrote in the welcome letter for the commemorative White House Holiday Guide. It took over 300 dedicated volunteers from across the country a full week to decorate the inside and outside of the White House, who the first lady thanked during a special event to mark the holiday season. The first lady invited National Guard families to be the first to experience this year's magical decorations and had their children on stage at the special event.
ListenFirst Unveils Social Indexes for Sports, Revolutionizing the Game with Comprehensive Industry Insights on Social MediaNone'Someone will kill you soon': Taylor Fritz exposes online abuse after loss to Felix Auger-Aliassime in United Cup