Livestreamed threats against police lead to arrest in Richmond, B.C., RCMP sayLou Basenese, chief market strategist at Public Ventures LLC, spoke with Quartz for the latest installment of our “Smart Investing” video series. Watch the interview above and check out the transcript of the conversation below, which has been lightly edited for length and clarity. ANDY MILLS: How should investors feel about Trump’s appointment of Scott Bessent as treasury secretary? LOU BASENESE: Yeah, man, it should be a huge sigh of relief. I think this was probably one of the more challenging and difficult and anxiety-ridden cabinet appointments. I think there was a fear that he would pick someone that had a Fed DNA that would be very antagonistic with what Trump and the pro-markets stance has on it. So I think picking someone that’s experienced, that’s a known quantity to Wall Street, will give investors the confidence that he can thread that needle, right? So, because we have a president-elect coming into power that is defying pretty much standard economic principles, being pro-tax cuts, pro-tariff, pro-energy independence, those things don’t always sync up well together with a booming economy and inflation under control. So I think Scott Bessent is, if there’s a person for the job, it’s him. But that being said, he’s gotta deliver now, too. AM: Do you think he’ll carry through Trump’s idea for tariffs? LB: Yeah, I view tariffs as a big stick that we threaten with to really get some economic trade partnerships agreed upon. So it’s promising that Bessent came out with this 3-3-3 proposal, right, where you’re gonna get spending down to 3% of GDP, keep GDP growth at 3%, and then increase energy production by 3 million barrels extra a year. I think those are tangible, real goals and targets that he’s now gotta get after. So I think the tariff stance, I think he’ll soften Trump’s tariff stance. I think that’s what people and investors are responding to right now is the fact that it’s not gonna be just all Trump, all tariffs that best will really be the buffer for that. AM: How do you see these tariffs affecting housing prices given that the majority of our lumber comes from Canada? LB: Yeah, I think there could be temporary increases, right? Like I said before, I think that tariff threat is a big stick. If we look historically, these tariffs don’t last very long and they’re not really a huge percentage of the economy. I think if we looked at the data from last year, it’s about 80 to 100 billion dollars in tariff receipts. You’re talking about less than half a point on GDP growth if you really got rid of those tariffs or doubled them. So again, I think it’s more threat and fear of the down-the-road repercussions. And if we look at last time, the 2016 tariffs really didn’t kick in higher prices until 2018, 2019. So it’s not an immediate impact. Therefore it’s not one that we can put a finger and say if X then Y is immediately gonna happen. I think we’ll have to wait and see. AM: Trump’s made some controversial picks, too. Who are the best cabinet picks for investors and the worst you think? LB: Whew, I’m a glass half full guy, so I’ll focus more on the best. I think Makary for FDA makes the most sense. And we talk about biotech, he’s a practitioner and researcher first. So when a pancreatic surgeon, cancer surgeon — cancer is one of the areas of disease management that we have the most barbaric approaches to. So we really need a lot of innovation focus there on drug approvals that are in the clinic. It’s the hardest to get cancer drugs approved. It’s usually about 3% of cancer drugs that go into the clinic actually get approved. Takes seven to eight years, can cost up upwards of $2 billion. We need to shorten and compress that for good patient care. So I think that’s a great pick. A practitioner. The one that scares me maybe a little bit is Dr. Oz. I mean that’s celebrity over practitioner for most practical purposes. I don’t know that that translates into politics, right? I think politics is a game of popularity on the front end and practicality on the back end. And a lot of politicians that get elected get into the machine and realize this is a lot harder to maneuver. It’s a lot harder to have an impact. I think Dr. Oz might be one of those guys that runs into that brick wall of reality. But to be determined. AM: How might that be reflected in the market with a Dr. Oz appointment? LB: Yeah, I think it’s tangential. I don’t think there’s any cabinet picks right now that scare me market-wise. Another good one for me was Chris Wright for energy secretary. I mean from Liberty Energy ( LBRT ) , that’s a fracking operation that understands energy independence, but can be very pragmatic. I think what we have to learn is just this is not a complete abandonment of renewables. It’s getting to reasonable renewable targets, right? We can’t just set an arbitrary deadline to transition. And the reality is we can’t ever fully transition. We have to have a good balance. So I think that includes fracking, that includes wind and solar. What that balance is, we have some practical guidelines from states like Texas. They got to north of 40% renewables and the grid started to collapse. So on a whole, the country’s at about 23% renewables. So that sweet spot is probably somewhere in that 30 to 35%. I think Chris Wright is a practical person that will understand the balance because he has been a businessman maneuvering between different administrations, both Republican and Democrat. I think he could do a good job of managing our energy policy to be both being conservationist, but also pragmatic about hey, what does our country need to be independent, keep prices down? AM: Taking all this into consideration, what are some of your top stock picks going into 2025? LB: Yeah, so not individual recommendations because I don’t know everyone’s situation. That’s the disclaimer. If I look at the market as a whole though, I think there’s areas of opportunity still. You look at small caps, they’ve just consistently lagged large caps. They’re trading at much cheaper prices. So at about 14, 15 times earnings versus 20-plus for large caps. I like to buy low, sell high. I think all investors do. Another area is biotech, right? We talked about the favorable appointments from a cabinet perspective, but if we just look at the valuations in biotech, that area of the market has really been left for dead unfortunately. But those innovations are desperately needed. So the XBI ( XBI ) index is a great way to measure the smaller innovators in biotech, still probably needs to increase another 50 to 60% to get to its 2021 highs. So there are areas of froth in the market for sure, but then there’s areas of opportunity and I think for us, we’re looking at small caps, biotech in particular. AM: Gotcha. The XBI index, is that an ETF? LB: There is an ETF by XBI. So the XBI, it tends to bring in some of the smaller biotechs. If you went for just a standard S&P biotech index, it gets a lot more larger caps in there. So yeah, the ticker on that is XBI. 📬 Sign up for the Daily Brief Our free, fast, and fun briefing on the global economy, delivered every weekday morning.
THOUSAND OAKS, Calif. , Dec. 10, 2024 /PRNewswire/ -- Amgen (NASDAQ:AMGN) today announced that its Board of Directors declared a $2.38 per share dividend for the first quarter of 2025. The dividend will be paid on March 7, 2025 , to all stockholders of record as of the close of business on February 14, 2025 . About Amgen Amgen discovers, develops, manufactures and delivers innovative medicines to help millions of patients in their fight against some of the world's toughest diseases. More than 40 years ago, Amgen helped to establish the biotechnology industry and remains on the cutting-edge of innovation, using technology and human genetic data to push beyond what's known today. Amgen is advancing a broad and deep pipeline that builds on its existing portfolio of medicines to treat cancer, heart disease, osteoporosis, inflammatory diseases and rare diseases. In 2024, Amgen was named one of the "World's Most Innovative Companies" by Fast Company and one of "America's Best Large Employers" by Forbes, among other external recognitions . Amgen is one of the 30 companies that comprise the Dow Jones Industrial Average ® , and it is also part of the Nasdaq-100 Index ® , which includes the largest and most innovative non-financial companies listed on the Nasdaq Stock Market based on market capitalization. For more information, visit Amgen.com and follow Amgen on X , LinkedIn , Instagram , TikTok , YouTube and Threads . Forward-Looking Statements This news release contains forward-looking statements that are based on the current expectations and beliefs of Amgen. All statements, other than statements of historical fact, are statements that could be deemed forward-looking statements, including any statements on the outcome, benefits and synergies of collaborations, or potential collaborations, with any other company (including BeiGene, Ltd. or Kyowa Kirin Co., Ltd.), the performance of Otezla® (apremilast) (including anticipated Otezla sales growth and the timing of non-GAAP EPS accretion), our acquisitions of Teneobio, Inc., ChemoCentryx, Inc., or Horizon Therapeutics plc (including the prospective performance and outlook of Horizon's business, performance and opportunities, any potential strategic benefits, synergies or opportunities expected as a result of such acquisition, and any projected impacts from the Horizon acquisition on our acquisition-related expenses going forward), as well as estimates of revenues, operating margins, capital expenditures, cash, other financial metrics, expected legal, arbitration, political, regulatory or clinical results or practices, customer and prescriber patterns or practices, reimbursement activities and outcomes, effects of pandemics or other widespread health problems on our business, outcomes, progress, and other such estimates and results. 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A breakdown, cyberattack or information security breach of our information technology systems could compromise the confidentiality, integrity and availability of our systems and our data. Our stock price is volatile and may be affected by a number of events. Our business and operations may be negatively affected by the failure, or perceived failure, of achieving our environmental, social and governance objectives. The effects of global climate change and related natural disasters could negatively affect our business and operations. Global economic conditions may magnify certain risks that affect our business. Our business performance could affect or limit the ability of our Board of Directors to declare a dividend or our ability to pay a dividend or repurchase our common stock. We may not be able to access the capital and credit markets on terms that are favorable to us, or at all. CONTACT: Amgen, Thousand Oaks Elissa Snook , 609-251-1407 (media) Justin Claeys , 805-313-9775 (investors) View original content to download multimedia: https://www.prnewswire.com/news-releases/amgen-announces-2025-first-quarter-dividend-302328180.html SOURCE AmgenLivewire CEO Donnez Karim sells $4,398 in stock
BERKELEY, Calif. , Dec. 6, 2024 /PRNewswire/ -- Bamboo Technology , a mental health technology innovation company, is announcing its participation in Batch 19 of the prestigious UC Berkeley Skydeck IPP Program for startup acceleration. The company's HereHear AI therapist solution will be the key focus of the program, driven by the vision of revolutionizing mental health with AI-powered virtual solutions. To learn more about HereHear, please visit: https://www.youtube.com/watch?v=ngU32WgiWf4 "HereHear is here in the US, and I am truly grateful to the Berkeley Skydeck IPP Program for recognizing its potential," noted Lynia Huang , Bamboo Technology's CEO. "As important as mental health has become in recent years, there is a shortage of mental health providers and access to support is low — and HereHear is paving the way for AI to bridge that gap as a first line of defense." A growing case for incorporating AI into mental healthcare With data showing that the US is in a mental health crisis, the CDC recently noted a dire need for public health initiatives that create environments centered around mental health. Specific to the workplace, the Society for Human Resource Management's Employee Mental Health in 2024 Research Series found that 44% of US employees feel burned out at work. The combination of a shortage of mental health providers in the US with the flourishing capabilities of AI builds a strong case for the technology to be deployed in the form of human-guided mental health solutions. HereHear's YangYang: A personalized 3D virtual therapist As organizations seek out ways to empower team members to take better care of their mental health, AI is increasingly emerging as a solution for on-demand, personalized support. Offering a more engaging interaction than chatbots, HereHear's 3D virtual therapist YangYang was launched in January 2024 and offers: YangYang has already been implemented in several therapy clinics and has helped 70% of users improve stress and depression levels by 25% within 3 months. Taking the form of a sheep further distinguishes her — this functions both to provide a 'cute' aspect lending to the warm, healing emotional support she provides, while also helping users who are struggling emotionally to keep in perspective that their interactions are ultimately not with a human. Bringing success in Taiwan to the US market Bamboo Technology's acceptance into the Berkeley Skydeck IPP Program is a major accomplishment as the platform seeks to enter the US market. Batch 19 has only 117 startups out of around 2300 applications, and the program will support HereHear to develop, pilot and launch, as well as to pitch for funding. The company aims to target the app in the human resources space—as a tool for companies to offer staff for on-demand, privacy-first mental health support. Back in Taiwan , the app already has hospitals, mental health clinics, universities, publicly listed companies, and government agencies that use it, similarly spurred by a shortage of mental health workers. About Bamboo Technology Established in November 2018 , the Taipei -based Bamboo Technology is a mental health technology innovation company that focuses on improving public mental health with voice emotion analysis technology. It embraces a belief that a universal, objective, and scientific mental health system can effectively solve the problem of deteriorating mental health in today's society — a core tenet upheld by its many psychologists; social workers; and information management, AI and big data experts. View original content to download multimedia: https://www.prnewswire.com/news-releases/bamboo-technologys-herehear-virtual-ai-therapist-joins-berkeley-skydeck-ipp-program-302325187.html SOURCE BAMBOO TECHNOLOGY LTD.PHILADELPHIA (AP) — Cole Hargrove's 17 points helped Drexel defeat Pennsylvania 60-47 on Saturday. Hargrove also contributed 13 rebounds and three blocks for the Dragons (6-4). Kobe Magee scored 12 points while shooting 4 for 12 (0 for 3 from 3-point range) and 4 of 4 from the free-throw line and added five rebounds. Yame Butler had 10 points and shot 4 of 7 from the field and 2 of 4 from the free-throw line. Nick Spinoso led the Quakers (3-6) in scoring, finishing with 21 points, seven rebounds and two steals. Ethan Roberts added 11 points for Pennsylvania. Sam Brown had eight points. Drexel got a team-high six points across the first half from Hargrove, but it was only enough to head to the locker room with the score tied at the half 30-30. Drexel took a 10-point lead in the second half thanks to a 16-2 scoring run. Hargrove led their club in second-half scoring with 11 points. The Associated Press created this story using technology provided by Data Skrive and data from Sportradar .
NASHVILLE, Tenn. — The University of South Dakota women’s basketball team notched a season-high scoring output en route to a 79-69 victory over Dayton on Tuesday during the first of two games for the Coyotes at the Music City Classic. Grace Larkins and Alexi Hempe paced the Coyotes with big performances. Larkins matched a career-high with 34 points on 50% shooting from the field with seven rebounds as well. Meanwhile, Hempe scored a career-high 23 points in the matchup to go along with eight rebounds of her own. ADVERTISEMENT The Coyotes got out to an early advantage of 19-9 through the first quarter with a stifling defense that only allowed the Flyers to shoot 22% from the field in the opening 10 minutes. The advantage grew by halftime, with USD leading 41-29 at the intermission. Dayton was the team to come out of the locker room on the front to start the third quarter though. The Flyers began to close the gap, hitting as many field goals in the third quarter as they did in the first two combined. However, the Coyotes still held a 59-52 advantage thanks to seven points from Hempe in the final four minutes of the quarter. Larkins and Hempe stayed hot as the two combined for 13 of the Coyotes' 20 points in the fourth quarter as they went on to close out the Flyers for their third win of the season and third straight. For Dayton, Nicole Stephens led the way with 15 points, Arianna Smith was right behind with 14 points of her own, while Ivy Wolf also finished in double-figures with 13. USD (3-4) will finish out the Music City Classic against Arizona State at 11 a.m. Wednesday.