Empowered Funds LLC boosted its stake in shares of Huntsman Co. ( NYSE:HUN – Free Report ) by 49.9% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 31,783 shares of the basic materials company’s stock after purchasing an additional 10,582 shares during the period. Empowered Funds LLC’s holdings in Huntsman were worth $769,000 at the end of the most recent quarter. A number of other institutional investors have also modified their holdings of HUN. 1832 Asset Management L.P. boosted its position in Huntsman by 54.0% during the second quarter. 1832 Asset Management L.P. now owns 4,415,264 shares of the basic materials company’s stock worth $100,536,000 after purchasing an additional 1,547,344 shares in the last quarter. AQR Capital Management LLC raised its stake in shares of Huntsman by 383.0% during the 2nd quarter. AQR Capital Management LLC now owns 1,417,641 shares of the basic materials company’s stock worth $32,138,000 after buying an additional 1,124,113 shares during the period. Victory Capital Management Inc. grew its stake in Huntsman by 52.4% in the 2nd quarter. Victory Capital Management Inc. now owns 2,358,390 shares of the basic materials company’s stock valued at $53,701,000 after acquiring an additional 811,099 shares during the period. Marshall Wace LLP increased its holdings in Huntsman by 45.0% in the 2nd quarter. Marshall Wace LLP now owns 1,213,629 shares of the basic materials company’s stock worth $27,634,000 after acquiring an additional 376,423 shares in the last quarter. Finally, Canada Pension Plan Investment Board raised its position in Huntsman by 203.2% during the second quarter. Canada Pension Plan Investment Board now owns 462,100 shares of the basic materials company’s stock worth $10,522,000 after acquiring an additional 309,700 shares during the period. Hedge funds and other institutional investors own 84.81% of the company’s stock. Insider Buying and Selling In other news, Director Mary C. Beckerle sold 20,201 shares of the stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $21.42, for a total value of $432,705.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink . 5.60% of the stock is currently owned by company insiders. Analyst Upgrades and Downgrades View Our Latest Analysis on HUN Huntsman Price Performance HUN stock opened at $19.73 on Friday. The business has a 50 day simple moving average of $22.25 and a 200-day simple moving average of $22.68. The company has a market capitalization of $3.41 billion, a P/E ratio of -28.59 and a beta of 1.02. Huntsman Co. has a twelve month low of $19.11 and a twelve month high of $27.01. The company has a current ratio of 1.47, a quick ratio of 0.83 and a debt-to-equity ratio of 0.45. Huntsman ( NYSE:HUN – Get Free Report ) last announced its quarterly earnings data on Monday, November 4th. The basic materials company reported $0.10 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.10. Huntsman had a negative return on equity of 0.03% and a negative net margin of 1.99%. The company had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.55 billion. During the same quarter in the previous year, the company earned $0.15 EPS. The firm’s revenue for the quarter was up 2.3% compared to the same quarter last year. As a group, equities analysts anticipate that Huntsman Co. will post 0.09 EPS for the current year. Huntsman Dividend Announcement The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th will be issued a $0.25 dividend. The ex-dividend date is Friday, December 13th. This represents a $1.00 annualized dividend and a yield of 5.07%. Huntsman’s dividend payout ratio (DPR) is presently -144.93%. Huntsman Company Profile ( Free Report ) Huntsman Corporation manufactures and sells diversified organic chemical products worldwide. The company operates in three segments: Polyurethanes, Performance Products, and Advanced Materials. The Polyurethanes segment offers polyurethane chemicals, including methyl diphenyl diisocyanate, polyether and polyester polyols, and thermoplastic polyurethane; and aniline, benzene, nitrobenzene and other co-products. Further Reading Five stocks we like better than Huntsman Investing in Commodities: What Are They? How to Invest in Them Vertiv’s Cool Tech Makes Its Stock Red-Hot What Are Trending Stocks? Trending Stocks Explained MarketBeat Week in Review – 11/18 – 11/22 Stock Sentiment Analysis: How it Works 2 Finance Stocks With Competitive Advantages You Can’t Ignore Receive News & Ratings for Huntsman Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Huntsman and related companies with MarketBeat.com's FREE daily email newsletter .Former Bruins head coach Jim Montgomery has been named the new head coach of the St. Louis Blues. In a social media post on Sunday, the Blues announced that "Drew Bannister has been relieved of his coaching duties" and that "Jim Montgomery has been named the 28th head coach in franchise history." The Bruins fired Montgomery on Tuesday, following Boston's 5-1 loss to the Columbus Blue Jackets. It was Boston's third consecutive loss. With a record of 10-9-3, Boston is in 4th place in the NHL's Atlantic Division. Associate coach Joe Sacco took over Montgomery's role as head coach, the Bruins confirmed on Tuesday. Under Sacco's lead, the Bruins defeated the Utah Hockey club 1-0 on Thursday and the Detroit Red Wings 2-1 on Saturday. Montgomery was hired in 2022 , becoming the 29th coach in team history and just the third that the Bruins hired since 2007. He replaced Bruce Cassidy, who was fired after the team was eliminated in the first round of the 2022 Stanley Cup Playoffs. Originally, from Montreal, Quebec, Montgomery's resume included being head coach of the Dallas Stars and an assistant head coach for the St. Louis Blues. He was fired by the Stars in 2019 and checked himself into rehab to deal with alcohol abuse in early 2020. He was previously a player who played on several teams, including the St. Louis Blues, Philadelphia Flyers, San Jose Sharks and Dallas Stars. During his tenure in Boston, Montgomery was selected as a coach for the NHL All-Star Game twice.
South Korean Finance Minister Choi Sang-mok released a join statement with economy-related ministers on Sunday. The meeting was held in the aftermath of President Yoon Suk Yeol's brief declaration of martial law Tuesday. "The government will mobilize all resources available in accordance with contingency plans and take bold and swift measures, if necessary" "We have experienced some confusing incidents in the past, but their impact on the economy was limited," Choi said. "The government will put forth all-out efforts to maintain our sovereign rating under any circumstances." Government and Bank of Korea are taking measures to respond to market volatilities government vowed to inject "unlimited liquidity" for the time being Bank of Korea (BOK) has begun repo operations for financial institutions *** USD/KRW update - KRW to a 2-year low during the political turmoil:
From wealth and success to murder suspect, the life of Luigi Mangione took a hard turn
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On the sidelines of the just concluded African Investment Forum in Rabat, Morocco, The New Times’ Alice Kagina caught up with Clare Akamanzi, CEO of NBA Africa, to discuss about the need for perspective shift, economic potential of sports, and returns on investment in the sector. Below are excerpts. You are almost one year in at NBA Africa, how has it been? It's been a learning curve. Obviously, having come from RDB (Rwanda Development Board) was like a comfort zone since I had spent many years there. I have learnt a lot being at NBA Africa. I knew so much about BAL (Basketball Africa League) because of the partnerships we have in Rwanda but from the inside, I had so much to learn and extremely exciting and I am very energized now that I see and understand much better about how we can actually use sports to transform Africa. I see its possibility. I see it every single day, and I really can't wait to see Africans benefitting from sports and entertainment because this is the future. It’s been one year of learning, but one year of immense appreciation of how crucial sports is for the economy. What is the current landscape of investor interest in the sports sector in Africa? First of all, we are seeing sports as one of the fastest-growing sectors on the continent. In fact, the sports industry is projected to grow by 8 per cent over the next few years, significantly outpacing the continent's average GDP growth. This means there is a lot of opportunity for growth for those who invest in the sports sector. Since NBA investment in Africa, we have [opened] offices in five countries, namely South Africa, Kenya, Senegal, Nigeria and Egypt. We are investing because we see there is an opportunity not only commercially but also to transform the economies of Africa using sports. We've also invested in a new league that has done four seasons already. We're now going to the fifth season of the BAL. And we've seen it grow. When we started four years ago, it was during COVID. From the first season of Basketball Africa League which took place in a bubble because of the Covid-19 pandemic, the second season in BK Arena had 45,000 people that came to watch the game and the following year, we had 70,000 people, last season, we had about 120,000 people coming to watch the games in-person. The same increase is noticed on our digital platforms; we have about one billion engagements throughout all our social media platforms. The growth is real in terms of BAL but the impact is beyond. If you look at Rwanda, 15 per cent of the revenues from tourism is coming from events, and sports events are a critical part of them contributing directly to bringing millions of dollars to the country. We are seeing more and more investors in teams like Tigers in Rwanda and Nairobi City Thunder which became the first Kenyan team to qualify for BAL because of the investments raised that enabled them to get good players. The investment landscape is growing because companies are seeing opportunities to support teams through sponsorship or equity. The likes of Inyange, RSSB, Summa, and others. For me, all of this shows that we are only scratching the surface because the opportunity is really large and NBA is committed to unlock that. In October, you announced the construction of 100 outdoor courts in Kenya. How do you plan to expand these kinds of facilities across the continent? NBA has announced that we'll build 1,000 courts in Africa. 100 of those will be in Kenya, but the rest will be distributed among 11 countries, including Rwanda. This means increase of access to the basketball game with more kids playing, and we have seen African governments having similar initiatives of investing in courts to breed talent in several countries. Once they have that kind of access at a grassroots level, we begin to give them other opportunities such as participating in Basketball Without Boarder camps, where we bring talent, train them, and put out good talents taken to play professionally. We also have an NBA academy in Senegal where the best identified on the continent are taken. This year, we have our first prospect from the academy drafted into the NBA. NBA Africa is an investment valued at $1 billion, how are the financial returns and how do you get to create partnerships? The more games we have, the more seasons we have, the more funds we have, and as our fans increase, it gives us an opportunity to monetize the sport. So, the more fans, the more the sponsorship, because sponsors want to see how many people can watch their products. Same thing with the media where sports make money by selling broadcasting rights to broadcasters to show the game. We see all of that increasing, there is more media, more sponsorship, and more merchandise. For me, sports and basketball in particular is a story of growth and that demonstrates return. Of course, we are not here to make profit very quickly, NBA is very aware that this is a long-term investment and we know we are going to be here for decades. We are not in a hurry to make money because we are not leaving. The important thing is growth. What challenges are sports development efforts facing in Africa? The challenges are there but the good thing is that we see them improving. One of them is how we perceive new sports, with the perception of sports as a recreation or physical education, more of a by-the-way, yet there is huge economic opportunity for people. Many countries rely on tourism for their economies, sports is as important as tourism in terms of how it can transform an economy and the talent that it has. The second one is even though we see more infrastructure coming up, they're not enough. We need an arena in all the major cities of Africa, a world-class arena that can host big games. We need to see more courts in all schools and communities. Additionally, to consume sports, you need infrastructure like affordable internet and access to smart gadgets. For me, those are the things that will allow sports to grow even more. But this also goes with the increase of disposable income as economies continue to grow so that people can also consume sports and entertainment. You participated in the Africa Investment Forum. Are there some projects that NBA Africa is seeking to make investments deals for? No, our deals are constant in terms of investment sports, sponsoring sports, and investing in teams, and this means that all the things that are discussed here, infrastructure, electricity, and energy are relevant to us. All those provide a platform because you can't watch a game without electricity, internet or good infrastructure. That's why we are here to engage with financiers and leaders, and to preach the gospel of sports being a huge economic opportunity. What advice would you give to an entrepreneur or investor looking to venture into sports investments? Take time to understand sports. Take time to see the opportunity, learn from countries that have made sports such a big opportunity and then go into it, invest, get to know the details. Once you do, there's no turning back because sports is only going to grow. Africa is a youthful continent with an average age of 19. The future is here because this is where the consumer of sports is going to be for the next 20 to 30 years. From an NBA Africa perspective, do you see any efforts towards establishing a continental women’s league? We invest a lot in women and we have programmes like BAL4Her and our clinics are 50-50 gender inclusive but for a women’s league, it is something that we will explore down the road, but for the moment, we started with BAL and we need it to grow and be sustained. Any parting shot? We are coming back to Kigali for our conference in May, though not the finals. As usual, we want to see BAL paint the whole city of Kigali red because that's what we do. The city is so lit, and we see BAL as a part of that. Other cities we will be playing in are Morocco, Senegal, and South Africa. Watch the games on apps, and on TV but also come and watch the games in the arena.", "author": { "@type": "Person", "name": "Alice Kagina" }, "publisher": { "@type": "Organization", "name": "The New Times", "url": "https://www.newtimes.co.rw/", "sameAs": ["https://www.facebook.com/TheNewTimesRwanda/","https://twitter.com/NewTimesRwanda","https://www.youtube.com/channel/UCuZbZj6DF9zWXpdZVceDZkg"], "logo": { "@type": "ImageObject", "url": "/theme_newtimes/images/logo.png", "width": 270, "height": 57 } }, "copyrightHolder": { "@type": "Organization", "name": "The New Times", "url": "https://www.newtimes.co.rw/" } }U.S. Senator Ron Wyden of Oregon announced a new bill to secure the networks of American telecommunications companies breached by Salt Typhoon Chinese state hackers earlier this year. Wyden's " Secure American Communications Act " will order the Federal Communications Commission (FCC) to issue binding cybersecurity rules and implement the security requirements demanded since 1994 by legislation that instructs telecom providers to secure their phone and wireless networks from breaches. Telecom carriers will have to test their systems annually for security vulnerabilities, patch them, and document their findings and "all corrective measures." They'll also have to contract independent auditors for annual compliance audits with FCC cybersecurity rules and document any noncompliance findings. "It was inevitable that foreign hackers would burrow deep into the American communications system the moment the FCC decided to let phone companies write their own cybersecurity rules. Telecom companies and federal regulators were asleep on the job and as a result, Americans' calls, messages, and phone records have been accessed by foreign spies intent on undermining our national security," Wyden said today . "Congress needs to step up and pass mandatory security rules to finally secure our telecom system against an infestation of hackers and spies." On Thursday, FCC Chairwoman Jessica Rosenworcel announced that the agency would also act "urgently" to ensure that American telecom carriers are required to secure their networks. The Salt Typhoon telecom breaches CISA and the FBI confirmed the hacks in late October following reports that Chinese threat actors had hacked multiple telcos , including T-Mobile, AT&T, Verizon, and Lumen Technologies. Even though the timing of these breaches is still unclear, the Chinese hackers had access for "months or longer." This reportedly allowed them to steal substantial internet traffic from carriers providing services to American businesses and millions of customers. Last week, President Biden's deputy national security adviser Anne Neuberger told reporters during a Wednesday press briefing that the Salt Typhoon hacking group breached eight U.S. telecoms and carriers in dozens of other countries. The White House official said that "at this time, we don't believe any classified communications have been compromised," while a senior CISA official added in a Tuesday press call that they couldn't "say with certainty that the adversary has been evicted." CISA and FBI officials also advised Americans to use encrypted messaging apps to minimize the risk of communications interception by Chinese hackers and released guidance to help telecom infrastructure system admins and engineers harden systems against Salt Typhoon attacks. Also tracked as Earth Estries, Ghost Emperor, FamousSparrow, and UNC2286, the Salt Typhoon Chinese state-sponsored hacking group has been active since at least 2019, breaching government entities and telecom companies across Southeast Asia.
Megan Thee Stallion 's go-to producer, LilJuMadeDaBeat , appears to have an issue with Spotify and everyone's love for the streaming platform. As the platform unveiled its highly anticipated year-end stats on Wednesday (Dec. 4), LilJu took to social media to express his frustration with the streaming giant’s payout practices. “I hate that y’all actually use Spotify instead of literally ANY other streaming service. They pay us the least,” he wrote on X. Before the producer, the late Nipsey Hussle advised artists to promote the one-time Jay-Z -owned Tidal streaming platform to fans as the streaming service paid the most out of the others in royalties. Spotify’s year-end data dominated conversations, revealing its most-streamed global artists of 2024. Apple Music and Spotify have been trending, with Drake filing a lawsuit against Universal Music Group over "Not Like Us." While Drake shined on Spotify, Kendrick Lamar seized the upper hand on Apple Music. A part of the iconic beef between Drake and Kendrick Lamar, “Not Like Us” emerged as the platform’s most-played song worldwide for 2024. Before his beef with Kendrick, Drake and Megan Thee Stallion exchanged disses, with LilJuMadeDaBeat being mentioned. Read more: TWICE & Megan Thee Stallion Have A New Video On The Way The spotlight on “Not Like Us” intensified in recent weeks following a legal dispute between Drake and Universal Music Group (UMG). At the center of the controversy, Drake accused UMG of artificially inflating the track’s popularity through streaming bots and payola. He also alleged defamation, claiming the company knowingly released a song accusing him of being a pedophile. UMG, which oversees both Drake’s label Republic and Kendrick’s home at Interscope, has not publicly addressed the allegations. Since Drake’s legal filings on Nov. 25, “Not Like Us” has seen a surge in popularity. According to Talk of the Charts , sales of the track skyrocketed by 440%, with streaming numbers rising by 20%. The diss song has also climbed 16 spots on Spotify’s Global chart, cementing its place as one of the year’s most polarizing and talked-about releases.Internet skewers Boyz II Men for the ‘worst national anthem of the season’
Several union ministers, CMs to join world leaders in Davos for WEF meetUS President-elect Donald Trump filed a brief Friday urging the Supreme Court to pause a law that would ban TikTok the day before his January 20 inauguration if it is not sold by its Chinese owner ByteDance. "In light of the novelty and difficulty of this case, the court should consider staying the statutory deadline to grant more breathing space to address these issues," Trump's legal team wrote, to give him "the opportunity to pursue a political resolution." Trump was fiercely opposed to TikTok during his 2017-21 first term, and tried in vain to ban the video app on national security grounds. The Republican voiced concerns -- echoed by political rivals -- that the Chinese government might tap into US TikTok users' data or manipulate what they see on the platform. US officials had also voiced alarm over the popularity of the video-sharing app with young people, alleging that its parent company is subservient to Beijing and that the app is used to spread propaganda, claims denied by the company and the Chinese government. Trump called for a US company to buy TikTok, with the government sharing in the sale price, and his successor Joe Biden went one stage further -- signing a law to ban the app for the same reasons. Trump has now, however, reversed course. At a press conference last week, Trump said he has "a warm spot" for TikTok and that his administration would take a look at the app and the potential ban. Earlier this month, the president-elect met with TikTok CEO Shou Zi Chew at his Mar-a-Lago residence in Florida. Recently, Trump told Bloomberg he had changed his mind about the app: "Now (that) I'm thinking about it, I'm for TikTok, because you need competition." "If you don't have TikTok, you have Facebook and Instagram -- and that's, you know, that's Zuckerberg." Facebook, founded by Mark Zuckerberg and part of his Meta tech empire, was among the social media networks that banned Trump after attacks by his supporters on the US Capitol on January 6, 2021. The ban was driven by concerns that he would use the platform to promote more violence. Those bans on major social media platforms were later lifted. - 'Unprecedented' - In the brief filed on Friday, Trump's lawyer made it clear the president-elect did not take a position on the legal merits of the current case. "President Trump takes no position on the underlying merits of this dispute," John Sauer wrote in the amicus curiae -- or "friend of the court" -- brief. "Instead, he respectfully requests that the court consider staying the act's deadline for divestment of January 19, 2025, while it considers the merits of this case, thus permitting President Trump's incoming Administration the opportunity to pursue a political resolution of the questions at issue in the case." A coalition of free speech groups -- including the American Civil Liberties Union -- also filed a separate brief to the Supreme Court opposing enforcement of the law, citing censorship concerns. "Such a ban is unprecedented in our country and, if it goes into effect, will cause a far-reaching disruption in Americans' ability to engage with the content and audiences of their choice online," the rights groups' filing read, in part. The US apex court agreed last week to hear TikTok's appeal against Biden's move to force its owner to divest from it or face a ban. With oral arguments scheduled for January 10, the case would have to be heard at a breakneck speed. TikTok argues that the law, the Protecting Americans from Foreign Adversary Controlled Applications Act, violates its First Amendment free speech rights. AFP, among more than a dozen other fact-checking organizations, is paid by TikTok in several countries to verify videos that potentially contain false information. US President-elect Donald Trump filed a brief Friday urging the Supreme Court to pause a law that would ban TikTok the day before his January 20 inauguration if it is not sold by its Chinese owner ByteDance. "In light of the novelty and difficulty of this case, the court should consider staying the statutory deadline to grant more breathing space to address these issues," Trump's legal team wrote, to give him "the opportunity to pursue a political resolution." Trump was fiercely opposed to TikTok during his 2017-21 first term, and tried in vain to ban the video app on national security grounds. The Republican voiced concerns -- echoed by political rivals -- that the Chinese government might tap into US TikTok users' data or manipulate what they see on the platform. US officials had also voiced alarm over the popularity of the video-sharing app with young people, alleging that its parent company is subservient to Beijing and that the app is used to spread propaganda, claims denied by the company and the Chinese government. Trump called for a US company to buy TikTok, with the government sharing in the sale price, and his successor Joe Biden went one stage further -- signing a law to ban the app for the same reasons. Trump has now, however, reversed course. At a press conference last week, Trump said he has "a warm spot" for TikTok and that his administration would take a look at the app and the potential ban. Earlier this month, the president-elect met with TikTok CEO Shou Zi Chew at his Mar-a-Lago residence in Florida. Recently, Trump told Bloomberg he had changed his mind about the app: "Now (that) I'm thinking about it, I'm for TikTok, because you need competition." "If you don't have TikTok, you have Facebook and Instagram -- and that's, you know, that's Zuckerberg." Facebook, founded by Mark Zuckerberg and part of his Meta tech empire, was among the social media networks that banned Trump after attacks by his supporters on the US Capitol on January 6, 2021. The ban was driven by concerns that he would use the platform to promote more violence. Those bans on major social media platforms were later lifted. - 'Unprecedented' - In the brief filed on Friday, Trump's lawyer made it clear the president-elect did not take a position on the legal merits of the current case. "President Trump takes no position on the underlying merits of this dispute," John Sauer wrote in the amicus curiae -- or "friend of the court" -- brief. "Instead, he respectfully requests that the court consider staying the act's deadline for divestment of January 19, 2025, while it considers the merits of this case, thus permitting President Trump's incoming Administration the opportunity to pursue a political resolution of the questions at issue in the case." A coalition of free speech groups -- including the American Civil Liberties Union -- also filed a separate brief to the Supreme Court opposing enforcement of the law, citing censorship concerns. "Such a ban is unprecedented in our country and, if it goes into effect, will cause a far-reaching disruption in Americans' ability to engage with the content and audiences of their choice online," the rights groups' filing read, in part. The US apex court agreed last week to hear TikTok's appeal against Biden's move to force its owner to divest from it or face a ban. With oral arguments scheduled for January 10, the case would have to be heard at a breakneck speed. TikTok argues that the law, the Protecting Americans from Foreign Adversary Controlled Applications Act, violates its First Amendment free speech rights. AFP, among more than a dozen other fact-checking organizations, is paid by TikTok in several countries to verify videos that potentially contain false information.
Taylor Swift to take final bow in Vancouver as Eras Tour concludes at BC PlaceThere's nothing quite like the sharp jolt of icy floors and brisk morning air to remind you that winter has settled in. It's the season for cranking up the heat . But keeping warm isn't just about flipping a switch on the thermostat . Winter comfort often comes with a hefty price tag, leaving many dreading their utility bills. Here's the good news: it doesn't have to be that way. Whether you rely on a traditional furnace or a modern HVAC system, a little know-how can go a long way. By finding the sweet spot for your heating settings and making simple adjustments to your home's energy habits, you can stay toasty while keeping costs under control. Winter warmth doesn't have to mean financial freeze. "It's more than just a number on the wall," said Julian Picard, owner of HVAC company Centerline Mechanical . Can solar panels save you money? Interested in understanding the impact solar can have on your home? Enter some basic information below, and we’ll instantly provide a free estimate of your energy savings. Here's what you need to know to stay comfortable this winter, and potentially save some money on your heating bill. This is the ideal thermostat temperature for the winter In the winter, experts recommend that you set your thermostat to 68 degrees Fahrenheit when you're home, and 60 to 65 degrees when you're asleep or away. You can set it higher, but that will reduce efficiency and lead to higher energy bills. It also depends on what the weather is like outside, Picard said. If it's 20 F outside, maybe don't set your thermostat to 80 F, he advised. Then there's the question of changing the temperature at night or when you're not home. The Department of Energy suggests you turn your thermostat back 7 to 10 degrees from its normal setting for 8 hours a day, saying that can save as much as 10% a year on heating and cooling. Picard suggested a smaller change: Lower the temperature by just four degrees when you're away or asleep. This means your system won't have to work quite as hard to get back to temperature.. "You don't want to have drastic changes in temperature," said Mahlie Dukes, franchise owner of WIN Home Inspection in Indiana. You should also get to know your specific heating system. If you notice, for example, that your home never gets up to the temperature you set, that could be a sign that your system is improperly sized for your home , Picard says. And it's a cue to lower your thermostat setting so your HVAC won't constantly be working on overdrive. Read more: You Can Actually Save Money by Using Electricity at These Specific Times This is the ideal thermostat temperature for the summer In the summer, the ideal temperature for your thermostat is 75 to 78 F when you're home, and 80 degrees when you're away or asleep, Dukes said. The DOE suggests 78 F during the day, 82 F when you're sleeping and 85 F when you're not home. Most importantly, you want to make sure your system can handle it. If you notice that the house never gets as cool as your thermostat setting, that probably means your system is not sized well for your home, and you might want to ease up on the cooling. You may also want to check on how well sealed your doors and windows are and how well insulated your home is . Air conditioners can only really cool your home to 15 to 20 degrees below the outdoor temperature, so setting the thermostat too low can result in your system running without being effective. Does it matter what type of HVAC you have? Yes and no. The same general temperature recommendations apply regardless of the type of HVAC you have in your home, Picard says. But your results may vary depending on the type and size of your system. Systems that are over- or under-sized for your home will run inefficiently, which leads to higher heating and cooling costs. This is why Picard recommends that you have an HVAC professional inspect and clean your system annually. These pros can tell you how best to use your specific system for the best comfort and efficiency, he said. Avoid this common thermostat mistake Say your home is quite a bit colder than you'd prefer, and you want it to be perfect now. It may be 65 F inside and you may want it to be 70 F. Don't set it to 75 in the hopes that it will warm it up faster. Most HVAC units have two settings -- on or off -- and there's no getting to 70 F any more quickly. Set your thermostat to the temperature you want it to be. Setting to a warmer or cooler temperature than you actually desire in the hopes that will speed things along will just result in overcooling or overheating -- and overspending on your energy bills. Is your thermostat in the wrong place? Your thermostat knows how to set the temperature because it has a thermometer in it. So if your thermostat is in the wrong spot , it won't give you an accurate reading of the temp in your home. You want to avoid having your thermostat in a location that sees frequent changes in temperature or humidity, like in the kitchen or the bathroom. If it's on an exterior wall, it might be more sensitive to outdoor temperature changes. Instead, try to position your thermostat on an interior wall in a location like your living room. And if you have a thermostat that supports external room sensors, having sensors in other locations, like a bedroom, can help you better regulate the temperature in the rooms where you spend most of your time. Save money by setting your thermostat Reducing your energy bills this year doesn't have to be hard. "There's a huge misconception that in order to be energy efficient you must be uncomfortable," Picard said. Homeowners can also look at areas beyond their thermostat. Investing in good insulation , for example, can greatly reduce how much strain you put on your HVAC system. "You'd be surprised how much energy we blow right through our attics," Picard said. That annual inspection and maintenance appointment can also help save you money. Picard said buildup within your HVAC system can lead to efficiency losses of up to 10% annually, which you'll see on your energy bill. That's why having it cleaned every year is a good move. And if you're in the market for a new HVAC system, it's a great time to take stock and make sure what you have fits your specific home.