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Packaging Corp. of America stock underperforms Friday when compared to competitorsCalifornia feasts in the frontcourt against shorthanded Arizona women’s basketball
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NoneSkyhawks Sports Announces 2024 Coach of the Year Winner and FinalistsThe Nasdaq and the S&P 500 rose to record closing highs on Friday following upbeat forecasts from Lululemon Athletica and other companies and as U.S. jobs data fueled expectations the Federal Reserve would cut interest rates this month. The Dow finished lower, as a 5.1% drop in UnitedHealth Group shares weighed on the index. The S&P 500 consumer discretionary index rose 2.4% to hit an all-time closing high. It led gains among sectors, boosted by Lululemon. Shares of Lululemon Athletica jumped 15.9% after the sportswear maker increased full-year forecasts. Also in the consumer discretionary space, shares of cosmetics retailer Ulta Beauty advanced 9% after the company raised its annual profit forecast. Stock Trading Stock Investing Made Easy: Beginner's Stock Market Investment Course By - elearnmarkets, Financial Education by StockEdge View Program Stock Trading Technical Trading Made Easy: Online Certification Course By - Souradeep Dey, Equity and Commodity Trader, Trainer View Program Stock Trading Advanced Strategies in Stock Market Mastery By - CA Raj K Agrawal, Chartered Accountant View Program Stock Trading Options Trading Course For Beginners By - Chetan Panchamia, Options Trader View Program Stock Trading Derivative Analytics Made Easy By - Vivek Bajaj, Co Founder- Stockedge and Elearnmarkets View Program Stock Trading Candlesticks Made Easy: Candlestick Pattern Course By - elearnmarkets, Financial Education by StockEdge View Program Stock Trading Mastering Options Selling: Advanced Strategies for Success By - CA Manish Singh, Chartered Accountant, Professional Equity and Derivative Trader View Program Stock Trading RSI Made Easy: RSI Trading Course By - Souradeep Dey, Equity and Commodity Trader, Trainer View Program Stock Trading Introduction to Technical Analysis & Candlestick Theory By - Dinesh Nagpal, Full Time Trader, Ichimoku & Trading Psychology Expert View Program The U.S. Labor Department report showed job growth surged in November, but an increase in the unemployment rate to 4.2% pointed to an easing labor market. "It does support the case for the Fed to continue to cut rates in the December meeting and into the first quarter," said Bill Northey, senior investment director at U.S. Bank Wealth Management in Billings, Montana. The Dow Jones Industrial Average fell 123.19 points, or 0.28%, to 44,642.52, the S&P 500 gained 15.16 points, or 0.25%, to 6,090.27 and the Nasdaq Composite gained 159.05 points, or 0.81%, to 19,859.77. The S&P 500 registered its 57th record closing high for 2024, while the Nasdaq Composite posted its 36th record high close for the year. For the week, the Nasdaq gained 3.3%, the S&P 500 rose about 1% and the Dow fell 0.6%. Following the data, U.S. rate futures were pricing in roughly a 90% chance the Fed will lower interest rates by 25 basis points at its Dec. 17-18 policy meeting, according to LSEG calculations which previously saw just a 72% chance. The Fed has lowered rates by 75 basis points since September, when it launched its easing cycle. Fed Governor Michelle Bowman said inflation risks remained, which augured caution with rate decisions. Shares of health insurance companies including UnitedHealth extended declines from the previous session, two days after Brian Thompson, CEO of UnitedHealth's health insurance unit, was fatally shot outside a Manhattan hotel. The shooter remained at large and his motive has not been determined. The death sparked comments on social media over frustrations with the U.S. health insurance system. Among other stock moves, shares of Facebook-owner Meta Platforms were up 2.4% after a U.S. appeals court upheld a law requiring China-based ByteDance to divest its popular short video app TikTok by early next year or face a ban. The Cboe Volatility Index , Wall Street's fear gauge, ended down 0.77 points at 12.77 in its lowest finish since mid-July. Declining issues outnumbered advancers by a 1.01-to-1 ratio on the NYSE. There were 354 new highs and 98 new lows on the NYSE. On the Nasdaq, 2,610 stocks rose and 1,678 fell as advancing issues outnumbered decliners by a 1.56-to-1 ratio. Volume on U.S. exchanges was 12.99 billion shares, compared with the 14.5 billion average for the full session over the last 20 trading days. (You can now subscribe to our ETMarkets WhatsApp channel )
A federal appeals court panel on Friday unanimously upheld a law that could lead to a ban on TikTok in a few short months, handing a resounding defeat to the popular social media platform as it fights for its survival in the U.S. The U.S. Court of Appeals for the District of Columbia Circuit denied TikTok's petition to overturn the law — which requires TikTok to break ties with its China-based parent company ByteDance or be banned by mid-January — and rebuffed the company's challenge of the statute, which it argued had ran afoul of the First Amendment. “The First Amendment exists to protect free speech in the United States,” said the court's opinion, which was written by Judge Douglas Ginsburg. “Here the Government acted solely to protect that freedom from a foreign adversary nation and to limit that adversary’s ability to gather data on people in the United States.” TikTok and ByteDance — another plaintiff in the lawsuit — are expected to appeal to the Supreme Court, though its unclear whether the court will take up the case. “The Supreme Court has an established historical record of protecting Americans’ right to free speech, and we expect they will do just that on this important constitutional issue," TikTok spokesperson Michael Hughes said in a statement. “Unfortunately, the TikTok ban was conceived and pushed through based upon inaccurate, flawed and hypothetical information, resulting in outright censorship of the American people,” Hughes said. Unless stopped, he argued the statute “will silence the voices of over 170 million Americans here in the US and around the world on January 19th, 2025.” Though the case is squarely in the court system, its also possible the two companies might be thrown some sort of a lifeline by President-elect Donald Trump, who tried to ban TikTok during his first term but said during the presidential campaign that he is now against such action . The law, signed by President Joe Biden in April, was the culmination of a years-long saga in Washington over the short-form video-sharing app, which the government sees as a national security threat due to its connections to China. The U.S. has said it’s concerned about TikTok collecting vast swaths of user data, including sensitive information on viewing habits , that could fall into the hands of the Chinese government through coercion. Officials have also warned the proprietary algorithm that fuels what users see on the app is vulnerable to manipulation by Chinese authorities, who can use it to shape content on the platform in a way that’s difficult to detect — a concern mirrored by the European Union on Friday as it scrutinizes the video-sharing app’s role in the Romanian elections. TikTok, which sued the government over the law in May, has long denied it could be used by Beijing to spy on or manipulate Americans. Its attorneys have accurately pointed out that the U.S. hasn’t provided evidence to show that the company handed over user data to the Chinese government, or manipulated content for Beijing’s benefit in the U.S. They have also argued the law is predicated on future risks, which the Department of Justice has emphasized pointing in part to unspecified action it claims the two companies have taken in the past due to demands from the Chinese government. Friday’s ruling came after the appeals court panel, composed of two Republican and one Democrat appointed judges, heard oral arguments in September. In the hearing, which lasted more than two hours, the panel appeared to grapple with how TikTok’s foreign ownership affects its rights under the Constitution and how far the government could go to curtail potential influence from abroad on a foreign-owned platform. On Friday, all three of them denied TikTok’s petition. In the court's ruling, Ginsburg, a Republican appointee, rejected TikTok's main legal arguments against the law, including that the statute was an unlawful bill of attainder or a taking of property in violation of the Fifth Amendment. He also said the law did not violate the First Amendment because the government is not looking to "suppress content or require a certain mix of content” on TikTok. “Content on the platform could in principle remain unchanged after divestiture, and people in the United States would remain free to read and share as much PRC propaganda (or any other content) as they desire on TikTok or any other platform of their choosing,” Ginsburg wrote, using the abbreviation for the People’s Republic of China. Judge Sri Srinivasan, the chief judge on the court, issued a concurring opinion. TikTok’s lawsuit was consolidated with a second legal challenge brought by several content creators - for which the company is covering legal costs - as well as a third one filed on behalf of conservative creators who work with a nonprofit called BASED Politics Inc. Other organizations, including the Knight First Amendment Institute, had also filed amicus briefs supporting TikTok. “This is a deeply misguided ruling that reads important First Amendment precedents too narrowly and gives the government sweeping power to restrict Americans’ access to information, ideas, and media from abroad,” said Jameel Jaffer, the executive director of the organization. “We hope that the appeals court’s ruling won’t be the last word.” Meanwhile, on Capitol Hill, lawmakers who had pushed for the legislation celebrated the court's ruling. "I am optimistic that President Trump will facilitate an American takeover of TikTok to allow its continued use in the United States and I look forward to welcoming the app in America under new ownership,” said Republican Rep. John Moolenaar of Michigan, chairman of the House Select Committee on China. Democratic Rep. Raja Krishnamoorthi, who co-authored the law, said “it's time for ByteDance to accept” the law. To assuage concerns about the company’s owners, TikTok says it has invested more than $2 billion to bolster protections around U.S. user data. The company has also argued the government’s broader concerns could have been resolved in a draft agreement it provided the Biden administration more than two years ago during talks between the two sides. It has blamed the government for walking away from further negotiations on the agreement, which the Justice Department argues is insufficient. Attorneys for the two companies have claimed it’s impossible to divest the platform commercially and technologically. They also say any sale of TikTok without the coveted algorithm - the platform’s secret sauce that Chinese authorities would likely block under any divesture plan - would turn the U.S. version of TikTok into an island disconnected from other global content. Still, some investors, including Trump’s former Treasury Secretary Steven Mnuchin and billionaire Frank McCourt, have expressed interest in purchasing the platform. Both men said earlier this year that they were launching a consortium to purchase TikTok’s U.S. business. This week, a spokesperson for McCourt’s Project Liberty initiative, which aims to protect online privacy, said unnamed participants in their bid have made informal commitments of more than $20 billion in capital.
DALLAS, Texas, Dec. 16, 2024 (SEND2PRESS NEWSWIRE) — Skyhawks Sports, a Stack Sports company, is proud to announce the winner and finalists of the 2024 Coach of the Year Award. This annual accolade honors coaches who exemplify exceptional dedication, leadership, and a commitment to fostering positive sports experiences for young athletes. Jason Frazier, General Manager of Skyhawks, expressed his admiration for the coaches: “Our coaches are the heartbeat of Skyhawks, dedicating themselves to nurturing young athletes both on and off the field. Their commitment not only create fun sports experiences but also teach life lessons that resonate beyond the game is what makes them great coaches.” WINNER: FINALISTS: Coach Michael “Mikey” Monary has been an invaluable asset to the Skyhawks Sports Academy in Orange County. His passion and determination to continually improve as a coach have cultivated a significant following among local organizations, often resulting in waitlists exceeding 20 children. Parents frequently request Coach Mikey, with some traveling to different cities to enroll their children in his classes. Coach Mikey’s versatility allows him to coach any sport and age group, and he proactively expands his expertise, even taking private tennis lessons to better serve his students. His commitment to providing positive experiences for children exemplifies the core values of Skyhawks Sports. Jeff Brunsberg, Chief Revenue and Strategy Officer at Stack Sports, added: “Recognizing these outstanding coaches underscores our mission to increase participation and transform the sports experience. Their passion and dedication are pivotal in creating positive, lasting impacts in the communities we serve.” Skyhawks Sports remains dedicated to providing quality youth sports programs that emphasize critical life skills such as teamwork, respect, and sportsmanship. The organization congratulates Michael Monary and all the finalists for their exceptional contributions to youth sports. About Skyhawks Founded in Spokane, Washington in 1979, Skyhawks has established itself as one of the largest youth sport program providers in North America. Skyhawks provides a wide variety of fun, safe and positive programs that emphasize critical lessons by “teaching life skills through sports”. Programs range from week-long summer camps to after-school programs, clinics, and leagues for children aged 18mths to 14 in a variety of sports. About Stack Sports With nearly 50 million users in 35 countries, Stack Sports is a global technology leader in SaaS platform offerings for the sports industry. The company provides world-class software and services to support national governing bodies, youth sports associations, leagues, clubs, parents, coaches, and athletes. Some of the largest and most prominent sports organizations including the U.S. Soccer Federation, Little League Baseball and Softball, and Pop Warner Little Scholars rely on Stack Sports technology to run and manage their organizations. Stack Sports is headquartered in Dallas and is leading the industry one team at a time focusing on four key pillars — Grassroots Engagement, Participation Growth, Recruiting Pathways, and Elite Player Development. To learn more about how Stack Sports is transforming the sports experience, please visit https://stacksports.com/ . NEWS SOURCE: Stack Sports Keywords: Sports and Activities, Skyhawks Sports 2024 Coach of the Year Award, Stack Sports, Supertots, youth sports programs, DALLAS, Texas This press release was issued on behalf of the news source (Stack Sports) who is solely responsibile for its accuracy, by Send2Press® Newswire . Information is believed accurate but not guaranteed. Story ID: S2P122869 APDF15TBLLI To view the original version, visit: https://www.send2press.com/wire/skyhawks-sports-announces-2024-coach-of-the-year-winner-and-finalists/ © 2024 Send2Press® Newswire, a press release distribution service, Calif., USA. Disclaimer: This press release content was not created by nor issued by the Associated Press (AP). Content below is unrelated to this news story.Burnaby scraps plans for sister cities trip