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OpenAI wants to remove a clause about AGI from its Microsoft contract to encourage additional investments, report says
Vicus Capital Has $4.70 Million Stock Position in NVIDIA Co. (NASDAQ:NVDA)Flash demonstrations intended to spread fear and anxiety are happening almost weekly, say experts. WASHINGTON - A neo-Nazi group scattered flyers across lawns and doorsteps in three Waterloo, Iowa, neighborhoods just before Veterans Day. The handouts offered a chilling assessment of the group’s proximity, in capital letters: “We are your neighbors! We are the random stranger holding the door open for you!”, it read. “We are everywhere.” About a week later, about a dozen people marched through a part of Columbus, Ohio, that is known for arts and culture, carrying Nazi flags and using a bullhorn to shout racial slurs against Jews and people of color. A similar scene unfolded in downtown Nashville, Tennessee, over the summer. Flash displays of hate and white power are happening more frequently in the United States, a trend that experts say is a reaction to changing demographics, political turmoil and social catalysts. More than 750 such incidents have taken place since 2020, according to the Anti-Defamation League, with more than half of them occurring in the last 18 months. National experts describe a familiar pattern: small groups of mostly masked men chant and wave swastika or white power flags in public and yell racial slurs at targets as varied as immigrants, Black people, Jews and LGBTQ+ people. They unfurl offensive banners over highways or post racist flyers in communities. The demonstrations are typically captured on video and ricochet across social media to large audiences. The league’s Center on Extremism counted 282 events organised or attended by white supremacists in 2023, a 63 per cent increase from the 173 recorded in 2022. And in 2024, from about Memorial Day to Labour Day, there were 64 white supremacist activities in 25 states, the center said. Those included “fight nights” and mixed-martial-arts-style events held for supporters to socialise, recruit members and raise money, according to the Anti-Defamation League. “It’s just that common,” said Mr Oren Segal, vice-president of the Center on Extremism. “Flash demonstrations, whether there are six people or 12 or 40, are designed to create fear and anxiety in a community, and they happen almost every single week.” In 2023, for the second consecutive year, the center recorded a new high in white supremacist propaganda incidents – which include distribution of racist, antisemitic and anti-LGBTQ flyers, banners, graffiti and posters – with a total of 7,567 cases. That figure represents a 12 per cent increase from the 6,746 incidents in 2022. NYTIMES Join ST's Telegram channel and get the latest breaking news delivered to you. Read 3 articles and stand to win rewards Spin the wheel now
The internet regulator is abandoning its plan to allow Bangladesh to be the transit point for bandwidth supply to India's northeastern states on concerns that it could weaken the country's potential to become a regional internet hub. Last year, the Bangladesh Telecommunication Regulatory Commission (BTRC) sought the telecom ministry's permission after Summit Communications and Fiber@Home applied to supply bandwidth from Singapore via the Akhaura border to the northeastern region of India through Bharti Airtel. Summit Communications's chairman is Muhammad Farid Khan, the younger brother of Awami League presidium member Faruk Khan, also a five-time member of parliament from the Gopalganj-1. Farid is also a close friend of Sajeeb Wazed Joy, the son and ICT affairs adviser of ousted prime minister Sheikh Hasina. Fiber@Home was a major beneficiary during the AL regime from 2009 to 2024, ranking second to Summit Communications in terms of major government contracts and licences won. Before the two international terrestrial cable operators sought the BTRC's approval, Bharti Airtel applied to the foreign ministry the previous year for permission to connect Agartala through Akhaura to Bangladesh's submarine cable landing stations in Cox's Bazar and Kuakata to reach Singapore. Under this arrangement, Bangladesh would serve as the transit route -- enabling faster internet connection for India's northeastern states of Tripura, Arunachal Pradesh, Assam, Mizoram, Manipur, Meghalaya and Nagaland. At present, the states, popularly known as the Seven Sisters of India, are connected to Singapore through submarine cables in Chennai using the neighbouring country's domestic fibre optic network. The landing station in Chennai is about 5,500 kilometres away from the northeastern part -- a considerable distance that compromises the internet speed. Due to the mountainous nature of the region, the maintenance of fibre optic networks and the installation of new networks are relatively difficult. "The guidelines do not permit such 'transit' arrangements," Md Emdad ul Bari, chairman of BTRC, told The Daily Star on Thursday. Subsequently, the internet regulator wrote to the telecom ministry last week to recall its earlier application. The transit arrangement will also strengthen India's position as a dominant internet hub and weaken Bangladesh's potential to become a regional hub, according to a BTRC document. It would also hinder the potential for Bangladesh to become a Point of Presence (PoP) for content delivery network (CDN) providers such as Meta, Google, Akamai and Amazon. A PoP is a physical location, facility or data centre that acts as an interconnection point for various networks. It facilitates the exchange of data traffic between different network providers, internet service providers and CDNs. In short, it is a central hub where data highways from different regions converge. Currently, CDNs such as Meta, Google, Akamai and Amazon have their PoPs in Indian cities such as Kolkata, Chennai and Mumbai. Through transit connectivity provided by Summit and Fiber@Home, the Indian telecom operators would easily be able to offer internet services to the Seven Sisters. Besides, the arrangement would obstruct Bangladesh's ability to provide internet services to parts of Myanmar and northwestern China through its own infrastructure. Approximately 60 percent of the international bandwidth in Bangladesh is supplied by the seven ITCs like Summit Communications and Fiber@Home, while the remaining 40 percent is provided by Bangladesh Submarine Cables (BSC). Despite BSC's bandwidth capacity of 7,217 Gbps, only 2,343 Gbps is currently being utilised. Granting such connections to ITC operators despite BSC's adequate capacity and redundant cables would further increase ITC operators' bandwidth usage, undermining efforts to utilise BSC's unused bandwidth effectively. "This arrangement would not harm Bangladesh," said Sumon Ahmed Sabir, chief technology officer at Fiber@Home, while acknowledging that the Seven Sisters region would undoubtedly benefit more. Bangladesh, however, would also gain by earning foreign currency, while BSC, ITC and Nationwide Telecommunication Transmission Network (NTTN) operators would share in the profits, he added. Summit Communications did not respond to The Daily Star's request for comment. "Ultimately, the bandwidth from India will end up in India, reducing Bangladesh to merely a transit point," said Aminul Hakim, president of the Bangladesh Internet Governance Forum. At first glance, it may seem that Bangladesh would earn foreign currency from this arrangement. However, since the two local ITC providers facilitating the transit already import bandwidth from Indian companies, there is a significant likelihood of service exchange, depriving the government of revenue, Hakim added.You can expect almost every free-to-play game like Genshin Impact , Zenless Zone Zero , or Marvel Rivals to have multiple currency types for its monetization. The game needs to make money somehow, right? Since all heroes, maps, and other substantial updates will all be free, that leaves cosmetics that will cost you one of the game’s two forms of cash: Units and Lattice. Lattice is the gold, premium currency that allows you to buy the greatest things in the game, such as the battle pass. Some games give you alternate ways to earn all its currencies, while others force you to open your wallet if you want those goodies. Let’s see how Marvel Rivals handles its premium currency. How to get Lattice in Marvel Rivals Lattice, Marvel Rivals ‘ premium currency, can be obtained in only two ways. The first is to just purchase it using your real-world cash. Here are the current Lattice bundles you can purchase and how much they cost: 100 Lattice for $1 500 Lattice for $5 1,000 Lattice for $10 2,180 Lattice for $20 5,690 Lattice for $50 11,680 Lattice for $100 You only start saving a bit of money on Lattice if you buy more than the $10 bundle at a time, so decide early whether you want to invest in a lump sum or not. If you want to get the Luxury Battle Pass for Season 0, it will cost you 490 Lattice. However, Season 0 is a shorter season and will be half the cost of a regular one, meaning they will cost approximately 980 Lattice normally. The other way to earn Lattice is free but unpredictable. The battle pass will reward you with Lattice, but the amount and frequency all depend on that specific season’s battle pass. Odds are you will need to pay real money if you want most or all of the items that require Lattice in a given season.None
Canada's Jonathan David scores milestone goal in Lille win over Brest in FranceSan Francisco will be short at least one key player when the 49ers face the Chicago Bears this Sunday. According to Nick Wagoner, offensive tackle Trent Williams has been ruled out with an ankle injury, while defensive end Nick Bosa's oblique injury has him classified as doubtful. #49ers OT Trent Williams (ankle) is OUT again this week against Chicago. DE Nick Bosa (oblique) is doubtful. More News: 49ers' Christian McCaffrey Breaks Silence on Potential Season-Ending Injury Bosa and Williams were both absent during the open portion of Friday's practice, casting doubt on their availability for Sunday's game against the Chicago Bears. Neither player has participated in practice this week, and it's now confirmed that Williams will miss the game. Bosa's status remains uncertain, with his participation in Sunday's matchup also in jeopardy. Both players have missed the last two games due to injuries. Bosa is dealing with hip and oblique issues from a strain in the third quarter of the November 17th game against the Seattle Seahawks, while Williams is still recovering from an ankle injury he suffered during the 49ers' Week 10 victory over the Buccaneers, which was reflected on the injury report the following day. More News: 49ers Sign Former Jets RB to Replace Christian McCaffrey, Jordan Mason Although he didn't practice that week, he was able to walk around the locker room with a slight limp. Despite the discomfort, the 49ers gave him a Toradol injection before their Week 11 loss to the Seahawks, allowing him to take the field. Since then, Williams has been relying on a knee scooter to get around, avoiding putting weight on his injured ankle. This suggests that the injury may have worsened after he played through the pain in Seattle. Once the effects of the Toradol wore off, the full extent of the injury likely became apparent, leading to increased discomfort. Left guard Aaron Banks was absent from practice as he remains in concussion protocol after an injury he suffered during Week 12 in the 49ers' 38-10 loss to the Packers. Star running back Christian McCaffrey has been placed on injured reserve with a PCL injury injury, most likely ending his 2024 season. Williams was drafted by the now-Washington Commanders with the 4th overall pick in the 2010 NFL Draft. A nine-time Pro Bowler and two-time First-Team All-Pro, Williams is widely regarded as one of the league's best offensive linemen. He played for Washington from 2010 to 2019, before being traded to the San Francisco 49ers in 2020. For more on the NFL , head to Newsweek Sports .SENTOSA COVE, Singapore, Nov. 30, 2024 (GLOBE NEWSWIRE) -- The much-anticipated World Trading Tournament (WTT) soft launch successfully took place at the prestigious One15 Marina, Sentosa Cove, Singapore, marking the beginning of an exciting new era in competitive trading. With a vibrant gathering of key industry leaders, partners, and passionate traders, the event provided a first look into WTT's groundbreaking platform, which aims to redefine the trading world. The soft launch served as the official introduction of WTT's vision: turning trading into a dynamic and competitive global sport. The platform's innovative ecosystem combines the thrill of competition, the power of community, and the excitement of high-stakes trading. WTT's mission is simple— Trade to Thrill —offering a new experience where every trade counts as a step toward victory in the World Series of Trading, a revolutionary global event. Building a Strong Foundation Through Partnerships The success of WTT is supported by key strategic partners: Dollars Markets , Paywiser , The Firm Capital , and WikiFX . Each partner plays an essential role in making the platform a state-of-the-art experience. The Firm Capital provides the technological backbone, WikiFX drives community awareness with its extensive database and implements the technology of WikiTrade, Paywiser delivers seamless payment services, and Dollars Markets brings eager participants ready to compete on the global stage. Arthur Huis Int Veld , CEO of WTT, captured the energy of the event, stating, "This is the first step toward changing how the world perceives trading. We are committed to making WTT a competitive arena where skill and excitement come together. The enthusiasm at this launch shows that we're well on our way to building something extraordinary." A Dynamic Sneak Peek into WTT's Trading Platform The soft launch of the World Trading Tournament (WTT) introduced participants to its innovative platform, featuring gamified challenges, live leaderboards, and a community-driven environment. The immersive experience highlighted WTT's mission to blend competition, skill-building, and fun, making trading both accessible and exciting. Attendees enjoyed a glimpse of the dynamic trading arena, with the platform living up to its slogan—"Trade to Thrill." Looking Toward 2025 The success of the soft launch sets the stage for WTT's full-scale global launch in 2025. As WTT continues to evolve, the platform promises to bring more innovations, grow its community, and push the boundaries of what trading can be. WTT is not just creating a platform—it's building a movement. For more information about upcoming WTT events, visit https://worldtradingtournament.com or contact support@worldtradingtournament.com . Media Contact: World Trading Tournament Clement Metz +447441366569 support@worldtradingtournament.com https://worldtradingtournament.com Photos accompanying this announcement are available at: https://www.globenewswire.com/NewsRoom/AttachmentNg/b15433b3-625a-42bf-b1d5-5cb142b0bdfe https://www.globenewswire.com/NewsRoom/AttachmentNg/5717d522-124e-45f2-b129-fe4640ff26a9 © 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
There are some things you just don’t do in certain parts of the US. You don’t use inferior salsa during a cattle drive in Texas. You don’t eat pizza with a knife and fork in New York City. You don’t yell “Belichick is a big, fat cheater!” in a crowded Boston bar (even if it happens to be true). And if you’re in New Jersey or just America in general, you NEVER take the holy name of Bruce Springsteen in vain in ANY manner. So it’s bewildering why one New Jersey representative would even think about faking his listening habits when it comes to The Boss. 9to5Mac spotted a curious looking post on X from US Rep. Josh Gottheimer (D-NJ). The congressman shared what appeared to be his Spotify Wrapped playlist for the year, with one list consisting of Springsteen’s classic tracks like “Glory Days” and “Thunder Road” and the other filled with tracks from various hip hop stars. He tried to cement his esteem for Springsteen in his post by saying his “first ever concert was at Meadowlands to see The Boss!” Well, it didn’t take long for the internet and anyone who’s ever used Spotify to figure out that he faked the whole list just to kiss up to his constituents. Gottheimer’s list included such glaring mistakes as inconsistent font sizes, improper spacing between the albums on his lists and the fact that both lists were titled “Your top songs” even though one only had Springsteen albums. He didn’t even use the same font type or size for all of his track and album entries. So how did Gottheimer handle this musical faux pas with the press? He dug in his heels on his Springsteen tracks and blamed his two kids for the rest. He admitted to NJ Advance Media that he made a fake Spotify Wrapped list but says the tracks on each list are accurate because he shares an account with his children because that’s easier than going back in time and setting up a family plan. “This would be my Spotify Wrapped if I didn’t share my account with my 12 and 15-year old kids,” Gottheimer told the outlet. “While it’s Springsteen all day for me — don’t get me wrong, I still love listening to Taylor Swift!” Gottheimer has since taken the post down and replaced it with a list of his most listened to Springsteen tracks . He’s trying to save face because he’s in a heated race for governor and if you want a solid shot at moving into New Jersey’s governor mansion, then you need to make your love for The Boss known far and wide across the Garden State. If Gottheimer is also going for the “Dad who makes his kids cringe at their music choices” vote, then he’s a lock.It’s not about them. Or then. Though you’d think this would be the perfect time for the three guys who where there then , at the beginning of the Galaxy, to regale the talented whippersnappers in their charge with tales of yore. No? You’d think Greg Vanney, Kevin Hartman and Dan Calichman, the Galaxy coaches who were among the original G’z – OGz? – would relish the opportunity to bask in the good ol’ days. That they’d want to luxuriate in their legacy as players who helped establish the Galaxy as MLS’s winningest franchise , with its nine MLS Cup Final appearances and five championships going into this season’s title match Saturday at Dignity Health Sports Park in Carson. Even just for this week leading up to the club’s championship game against the New York Red Bulls – the team formerly known as the New York/New Jersey MetroStars. It was against them that the Galaxy played their first match on April 13, 1996 , at the Rose Bowl, before a then-record crowd of of 69,255. • MLS Cup preview: Galaxy hosts New York Red Bulls in search of 6th title You’d assume it would be impossible to resist reminiscing about that if you were Vanney or Calichman, who patrolled the back line on that date in history. Stars on the first Galaxy team before circling back in 2021 as the head coach and trusted assistant , taking the reins of a team that hadn’t made the playoffs for four seasons and that remained in such disarray just last year that many of its most ardent fans boycotted matches . You’d expect it would be hard not to throw on a few campfire stories in camp this week if you were Hartman. A fan favorite , the bleached-blonde goalkeeper joined Vanney and Calichman in 1997. Wound up playing 10 of his 17 MLS seasons with the Galaxy, winning two MLS Cups, two U.S. Open Cups, two Supporters’ Shields and earning the nickname El Gato in L.A. – where he’d been working since 2017 as the director of the LA Galaxy Academy before reuniting with Vanney as his goalkeeper coach in 2021. You’d think. But no. “We’re reticent, we don’t want to be talking about the good old days,” Hartman said by phone this week, suggesting such focus would not only be misplaced but come across as “maybe a little egotistical.” “Every once in a while,” said Calichman, noting that when those sorts of conversations happen, it’s with individual players and in the context of how much MLS has grown. Because, really, these MLS veterans are living for the here and now. Pioneers turned prisoners of the moment, willingly and enthusiastically. Right now, most of their bandwidth is being spent figuring out how they’ll overcome the loss of Riqui Puig , the star midfielder who suffered a torn ACL in the 1-0 Western Conference final victory over Seattle last weekend. How they’ll defend Lewis Morgan and Emil Forsberg on one end and set up Joseph Paintsil and Gabriel Pec and Dejan Joveljić to do damage on the other. How they’ll continue to hold serve on their home turf, unbeaten this season at Dignity Health Sports Park, against a team that’s won on the road this postseason against Columbus, New York City FC and Orlando City SC. How they can spoil the Red Bulls’ Cinderella story as the Eastern Conference’s seventh seed ... How could they possibly have time for history lessons right now? Especially because no one needs a refresher; they already know. Whether or not they were there then, they know. The trust and belief borne of decades of partnership – Vanney and Hartman weren’t only Galaxy teammates, they also played and roomed together at UCLA; and Calichman was on Vanney’s staff with Toronto FC as that club reached the playoffs in five of six seasons, made three MLS Cup Finals appearances and won it all once – is coursing through this iteration of the Galaxy. “We all share a passion for this organization and the club and where we want it to be,” Vanney said this week. “But we also have known each other long enough to challenge each other and to put the right questions in front of each other in support. We know where to fill each other’s gaps.” Such airtight bonds are built through years of hard-earned successes and bitter disappointments, Hartman said. “We all have this culture of excellence that we share and we’re not going to take any shortcuts to get there,” he said. “We have such longstanding, trusting relationships, I don’t think any of us are afraid to voice our opinions ... and if there’s something that comes off wrong, we’re pretty forgiving of one another.” Calichman should say so: “Hopefully they’re being honest!” And from that place of understanding, the Galaxy is at last, after a long decade, again living up to the legacy that Vanney, Calichman and Hartman helped create all those years ago. “Culture can change, but the expectations within the club were set very early,” Calichman said. “In ’96, the Galaxy made it to the MLS Cup final, and unfortunately we didn’t win it, but that expectation was set ... we’re a team that is vying for trophies. We’re a team that will work hard. That standard never stopped.” “Sometimes there’s a burden that comes with a legacy with a team like this,” Vanney said. “But to be able to own that, this group has attacked it from Day One and hasn’t been afraid of it or in awe of it – and has gone for it. That’s one of the beauties of this group.” Because the best way to honor a legacy isn’t to treat it as a fable. It’s to write the next chapter.BROOMFIELD, Colo. , Dec. 9, 2024 /PRNewswire/ -- Vail Resorts, Inc. (NYSE: MTN) today reported results for the first quarter of fiscal 2025 ended October 31, 2024 , provided season pass sales results for the 2024/2025 season, updated fiscal 2025 net income attributable to Vail Resorts, Inc. guidance and reaffirmed fiscal 2025 Resort Reported EBITDA guidance, announced capital investment plans for calendar year 2025, declared a dividend payable in January 2025 , and announced first quarter share repurchases. Highlights Commenting on the Company's fiscal 2025 first quarter results, Kirsten Lynch , Chief Executive Officer, said, "Our first fiscal quarter historically operates at a loss, given that our North American and European mountain resorts are generally not open for ski season. The quarter's results were driven by winter operations in Australia and summer activities in North America , including sightseeing, dining, retail, lodging, and administrative expenses. "Resort Reported EBITDA was consistent with the prior year, driven by growth in our North American summer business from increased activities spending and lodging results. This growth was offset by a decline in Resort Reported EBITDA of $9 million compared to the prior year from our Australian resorts due to record low snowfall and lower demand, cost inflation, the inclusion of Crans-Montana, and approximately $2.7 million of one-time costs related to the two-year resource efficiency transformation plan and $0.9 million of acquisition and integration related expenses." Regarding the Company's resource efficiency transformation plan, Lynch said, "Vail Resorts continues to make progress on its two-year resource efficiency transformation plan, which was announced in our September 2024 earnings. The two-year Resource Efficiency Transformation Plan is designed to improve organizational effectiveness and scale for operating leverage as the Company grows globally. Through scaled operations, global shared services, and expanded workforce management, the Company expects $100 million in annualized cost efficiencies by the end of its 2026 fiscal year. We will provide updates as significant milestones are achieved." Turning to season pass results, Lynch said, "Our season pass sales highlight the compelling value proposition of our pass products and our commitment to continually investing in the guest experience at our resorts. Over the last four years, pass product sales for the 2024/2025 North American ski season have grown 59% in units and 47% in sales dollars. For the upcoming 2024/2025 North American ski season, pass product sales through December 3, 2024 decreased approximately 2% in units and increased approximately 4% in sales dollars as compared to the period in the prior year through December 4, 2023 . This year's results benefited from an 8% price increase, partially offset by unit growth among lower priced Epic Day Pass products. Pass product sales are adjusted to eliminate the impact of changes in foreign currency exchange rates by applying an exchange rate of $0.71 between the Canadian dollar and U.S. dollar in both periods for Whistler Blackcomb pass sales. For the period between September 21, 2024 and December 3, 2024 , pass product sales trends improved relative to pass product sales through September 20, 2024 , with unit growth of approximately 1% and sales dollars growth of approximately 7% as compared to the period in the prior year from September 23, 2023 through December 4, 2023 , due to expected renewal strength, which we believe reflects delayed decision making. "Our North American pass sales highlight strong loyalty with growth among renewing pass holders across all geographies. For the full selling season, the Company acquired a substantial number of new pass holders, however the absolute number of new guests was smaller compared to the prior year, driving the overall unit decline for the full selling season. New pass holders come from lapsed guests, prior year lift ticket guests, and new guests to our database. The Company achieved growth from lapsed guests, who previously purchased a pass or lift ticket but did not buy a pass or lift ticket in the previous season. The decline in new pass holders compared to the prior year was driven by fewer guests who purchased lift tickets in the past season and from guests who are completely new to our database, which we believe was impacted by last season's challenging weather and industry normalization. Epic Day Pass products achieved unit growth driven by the strength in renewing pass holders. We expect to have approximately 2.3 million guests committed to our 42 North American, Australian, and European resorts in advance of the season in non-refundable advance commitment products this year, which are expected to generate over $975 million of revenue and account for approximately 75% of all skier visits (excluding complimentary visits)." Lynch continued, "Heading into the 2024/2025 ski season, we are encouraged by our strong base of committed guests, providing meaningful stability for our Company. Additionally, early season conditions have allowed us to open some resorts earlier than anticipated, including Whistler Blackcomb, Heavenly, Northstar, Kirkwood, and Stevens Pass. Early season conditions have also enabled our Rockies resorts to open with significantly improved terrain relative to the prior year, including the opening of the legendary back bowls at Vail Mountain opening the earliest since 2018. Our resorts in the East are experiencing typical seasonal variability for this point in the year, with all resorts planned to open ahead of the holidays. We are continuing to hire for the winter season, and are on track with our staffing plans and have achieved a strong return rate of our frontline employees from the prior season. Lodging bookings at our U.S. resorts for the upcoming season are consistent with last year. At Whistler Blackcomb, lodging bookings for the full season are lagging prior year levels, which may reflect delayed decision making following challenging conditions in the prior year." Operating Results A more complete discussion of our operating results can be found within the Management's Discussion and Analysis of Financial Condition and Results of Operations section of the Company's Form 10-Q for the first fiscal quarter ended October 31, 2024 , which was filed today with the Securities and Exchange Commission. The following are segment highlights: Mountain Segment Lodging Segment Resort - Combination of Mountain and Lodging Segments Real Estate Segment Total Performance Outlook The Company's Resort Reported EBITDA guidance for the year ending July 31, 2025 is unchanged from the prior guidance provided on September 26, 2024 . The Company is updating its guidance for net income attributable to Vail Resorts, Inc., which it now expects to be between $240 million and $316 million , up from the prior guidance range of $224 million to $300 million . The primary difference is due to a $17 million increase from the gain on sale of real property related to the resolution of the October 2023 Eagle County District Court final ruling and valuation regarding the Town of Vail's condemnation of the Company's East Vail property that was planned for Vail Resorts' incremental affordable workforce housing project, a transaction that has been recorded as Real Estate Reported EBITDA. Additionally, the guidance is updated to include a decrease in expected interest expense of approximately $2 million which assumes that interest rates remain at current levels for the remainder of fiscal 2025. These changes have no impact on expected Resort Reported EBITDA. The Company continues to expect Resort Reported EBITDA for fiscal 2025 to be between $838 million and $894 million , including approximately $27 million of cost efficiencies and an estimated $15 million in one-time costs related to the multi-year resource efficiency transformation plan, and an estimated $1 million of acquisition and integration related expenses specific to Crans-Montana. As compared to fiscal 2024, the fiscal 2025 guidance includes the assumed benefit of a return to normal weather conditions after the challenging conditions in fiscal 2024, more than offset by a return to normal operating costs and the impact of the continued industry normalization, impacting demand. Additionally, the guidance reflects the negative impact from the record low snowfall and related shortened season in Australia in the first quarter of fiscal 2025, which negatively impacted demand and resulted in a $9 million decline of Resort Reported EBITDA compared to the prior year period. After considering these items, we expect Resort Reported EBITDA to grow from price increases and ancillary spending, the resource efficiency transformation plan, and the addition of Crans-Montana for the full year. The guidance also assumes (1) a continuation of the current economic environment, (2) normal weather conditions for the 2024/2025 North American and European ski season and the 2025 Australian ski season, and (3) the foreign currency exchange rates as of our original fiscal 2025 guidance issued September 26, 2024 . Foreign currency exchange rates have experienced recent volatility. Relative to the current guidance, if the currency exchange rates as of yesterday, December 8, 2024 of $0.71 between the Canadian Dollar and U.S. Dollar related to the operations of Whistler Blackcomb in Canada , $0.64 between the Australian Dollar and U.S. Dollar related to the operations of Perisher, Falls Creek and Hotham in Australia , and $1.14 between the Swiss Franc and U.S. Dollar related to the operations of Andermatt-Sedrun and Crans-Montana in Switzerland were to continue for the remainder of the fiscal year, the Company expects this would have an impact on fiscal 2025 guidance of approximately negative $5 million for Resort Reported EBITDA. The following table reflects the forecasted guidance range for the Company's fiscal year ending July 31, 2025 for Total Reported EBITDA (after stock-based compensation expense) and reconciles net income attributable to Vail Resorts, Inc. guidance to such Total Reported EBITDA guidance. Fiscal 2025 Guidance (In thousands) For the Year Ending July 31, 2025 (6) Low End High End Range Range Net income attributable to Vail Resorts, Inc. $ 240,000 $ 316,000 Net income attributable to noncontrolling interests 23,000 17,000 Net income 263,000 333,000 Provision for income taxes (1) 91,000 115,000 Income before income taxes 354,000 448,000 Depreciation and amortization 295,000 279,000 Interest expense, net 174,000 166,000 Other (2) 21,000 13,000 Total Reported EBITDA $ 844,000 $ 906,000 Mountain Reported EBITDA (3) $ 818,000 $ 872,000 Lodging Reported EBITDA (4) 16,000 26,000 Resort Reported EBITDA (5) 838,000 894,000 Real Estate Reported EBITDA 6,000 12,000 Total Reported EBITDA $ 844,000 $ 906,000 (1) The provision for income taxes may be impacted by excess tax benefits primarily resulting from vesting and exercises of equity awards. Our estimated provision for income taxes does not include the impact, if any, of unknown future exercises of employee equity awards, which could have a material impact given that a significant portion of our awards may be in-the-money depending on the current value of the stock price. (2) Our guidance includes certain forward looking known changes in the fair value of the contingent consideration based solely on the passage of time and resulting impact on present value. Guidance excludes any forward looking change based upon, among other things, financial projections including long-term growth rates for Park City, which such change may be material. Separately, the intercompany loan associated with the Whistler Blackcomb transaction requires foreign currency remeasurement to Canadian dollars, the functional currency of Whistler Blackcomb. Our guidance excludes any forward looking change related to foreign currency gains or losses on the intercompany loans, which such change may be material. Additionally, our guidance excludes the impact of any future sales or disposals of land or other assets which are contingent upon future approvals or other outcomes. (3) Mountain Reported EBITDA also includes approximately $25 million of stock-based compensation. (4) Lodging Reported EBITDA also includes approximately $4 million of stock-based compensation. (5) The Company provides Reported EBITDA ranges for the Mountain and Lodging segments, as well as for the two combined. The low and high of the expected ranges provided for the Mountain and Lodging segments, while possible, do not sum to the high or low end of the Resort Reported EBITDA range provided because we do not expect or assume that we will hit the low or high end of both ranges. (6) Guidance estimates are predicated on an exchange rate of $0.74 between the Canadian dollar and U.S. dollar, related to the operations of Whistler Blackcomb in Canada; an exchange rate of $0.67 between the Australian dollar and U.S. dollar, related to the operations of our Australian ski areas; and an exchange rate of $1.18 between the Swiss franc and U.S. dollar, related to the operations of Andermatt-Sedrun and Crans-Montana in Switzerland. Liquidity and Return of Capital As of October 31, 2024 , the Company's total liquidity as measured by total cash plus revolver availability was approximately $1,024 million . This includes $404 million of cash on hand, $407 million of U.S. revolver availability under the Vail Holdings Credit Agreement, and $213 million of revolver availability under the Whistler Credit Agreement. As of October 31, 2024 , the Company's Net Debt was 2.8 times its trailing twelve months Total Reported EBITDA. Regarding the return of capital to shareholders, the Company declared a quarterly cash dividend of $2.22 per share of Vail Resorts' common stock payable on January 9, 2025 to shareholders of record as of December 26 , 2024. In addition, the Company repurchased approximately 0.1 million shares during the quarter at an average price of approximately $174 for a total of $20 million . The Company has 1.6 million shares remaining under its authorization for share repurchases. Commenting on capital allocation, Lynch said, "We will continue to be disciplined stewards of our shareholders' capital, prioritizing investments in our guest and employee experience, high-return capital projects, strategic acquisition opportunities, and returning capital to our shareholders. The Company has a strong balance sheet and remains focused on returning capital to shareholders while always prioritizing the long-term value of our shares." Capital Investments Vail Resorts is committed to enhancing the guest experience and supporting the Company's growth strategies through significant capital investments. For calendar year 2025, the Company plans to invest approximately $198 million to $203 million in core capital, before $45 million of growth capital investments at its European resorts, including $41 million at Andermatt-Sedrun and $4 million at Crans-Montana, and $6 million of real estate related capital projects to complete multi-year transformational investments at the key base area portals of Breckenridge Peak 8 and Keystone River Run, and planning investments to support the development of the West Lionshead area into a fourth base village at Vail Mountain. Including European growth capital investments, and real estate related capital, the Company plans to invest approximately $249 million to $254 million in calendar year 2025. Projects in the calendar year 2025 capital plan described herein remain subject to approvals. In calendar year 2025, the Company will embark on two multi-year transformational investment plans at Park City Mountain and Vail Mountain. In addition to embarking on two multi-year transformational investment plans, the Company is planning significant investments across the guest experience in calendar year 2025, including: In addition to the investments planned for calendar year 2025, the Company is completing significant investments that will enhance the guest experience for the upcoming 2024/2025 North American and European ski season. As previously announced, the Company expects its capital plan for calendar year 2024 to be approximately $189 million to $194 million , excluding $13 million of incremental capital investments in premium fleet and fulfillment infrastructure to support the official launch of My Epic Gear for the 2024/2025 winter season at 12 destination and regional resorts across North America , $7 million of growth capital investments at Andermatt-Sedrun, $2 million of maintenance and $2 million of integration investments at Crans-Montana, and $3 million of reimbursable capital. Including these one-time investments, the Company's total capital plan for calendar year 2024 is now expected to be approximately $216 million to $221 million . Earnings Conference Call The Company will conduct a conference call today at 5:00 p.m. eastern time to discuss the financial results. The call will be webcast and can be accessed at www.vailresorts.com in the Investor Relations section, or dial (800) 579-2543 (U.S. and Canada ) or +1 (785) 424-1789 (international). The conference ID is MTNQ125. A replay of the conference call will be available two hours following the conclusion of the conference call through December 16, 2024 , at 11:59 p.m. eastern time . To access the replay, dial (800) 753-9146 (U.S. and Canada ) or +1 (402) 220-2705 (international). The conference call will also be archived at www.vailresorts.com . About Vail Resorts, Inc. (NYSE: MTN) Vail Resorts is a network of the best destination and close-to-home ski resorts in the world including Vail Mountain, Breckenridge , Park City Mountain, Whistler Blackcomb, Stowe, and 32 additional resorts across North America ; Andermatt-Sedrun and Crans-Montana Mountain Resort in Switzerland ; and Perisher, Hotham, and Falls Creek in Australia . We are passionate about providing an Experience of a Lifetime to our team members and guests, and our EpicPromise is to reach a zero net operating footprint by 2030, support our employees and communities, and broaden engagement in our sport. Our company owns and/or manages a collection of elegant hotels under the RockResorts brand, a portfolio of vacation rentals, condominiums and branded hotels located in close proximity to our mountain destinations, as well as the Grand Teton Lodge Company in Jackson Hole, Wyo. Vail Resorts Retail operates more than 250 retail and rental locations across North America . Learn more about our company at www.VailResorts.com , or discover our resorts and pass options at www.EpicPass.com . Forward-Looking Statements Certain statements discussed in this press release and on the conference call, other than statements of historical information, are forward-looking statements within the meaning of the federal securities laws, including the statements regarding fiscal 2025 performance and the assumptions related thereto, including, but not limited to, our expected net income and Resort Reported EBITDA; our expectations regarding our liquidity; expectations related to our season pass products; our expectations regarding our ancillary lines of business; capital investment projects; our calendar year 2025 capital plan; our expectations regarding our resource efficiency transformation plan; and the payment of dividends. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. All forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those projected. Such risks and uncertainties include but are not limited to risks related to a prolonged weakness in general economic conditions, including adverse effects on the overall travel and leisure related industries and our business and results of operations; risks associated with the effects of high or prolonged inflation, elevated interest rates and financial institution disruptions; unfavorable weather conditions or the impact of natural disasters or other unexpected events; the ultimate amount of refunds that we could be required to refund to our pass product holders for qualifying circumstances under our Epic Coverage program; the willingness or ability of our guests to travel due to terrorism, the uncertainty of military conflicts or public health emergencies, and the cost and availability of travel options and changing consumer preferences, discretionary spending habits; risks related to travel and airline disruptions, and other adverse impacts on the ability of our guests to travel; risks related to interruptions or disruptions of our information technology systems, data security or cyberattacks; risks related to our reliance on information technology, including our failure to maintain the integrity of our customer or employee data and our ability to adapt to technological developments or industry trends; our ability to acquire, develop and implement relevant technology offerings for customers and partners; the seasonality of our business combined with adverse events that may occur during our peak operating periods; competition in our mountain and lodging businesses or with other recreational and leisure activities; risks related to the high fixed cost structure of our business; our ability to fund resort capital expenditures, or accurately identify the need for, or anticipate the timing of certain capital expenditures; risks related to a disruption in our water supply that would impact our snowmaking capabilities and operations; our reliance on government permits or approvals for our use of public land or to make operational and capital improvements; risks related to resource efficiency transformation initiatives; risks related to federal, state, local and foreign government laws, rules and regulations, including environmental and health and safety laws and regulations; risks related to changes in security and privacy laws and regulations which could increase our operating costs and adversely affect our ability to market our products, properties and services effectively; potential failure to adapt to technological developments or industry trends regarding information technology; our ability to successfully launch and promote adoption of new products, technology, services and programs; risks related to our workforce, including increased labor costs, loss of key personnel and our ability to maintain adequate staffing, including hiring and retaining a sufficient seasonal workforce; our ability to successfully integrate acquired businesses, including their integration into our internal controls and infrastructure; our ability to successfully navigate new markets, including Europe , or that acquired businesses may fail to perform in accordance with expectations; a deterioration in the quality or reputation of our brands, including our ability to protect our intellectual property and the risk of accidents at our mountain resorts; risks related to scrutiny and changing expectations regarding our environmental, social and governance practices and reporting; risks associated with international operations, including fluctuations in foreign currency exchange rates where the Company has foreign currency exposure, primarily the Canadian and Australian dollars and the Swiss franc, as compared to the U.S. dollar; changes in tax laws, regulations or interpretations, or adverse determinations by taxing authorities; risks related to our indebtedness and our ability to satisfy our debt service requirements under our outstanding debt including our unsecured senior notes, which could reduce our ability to use our cash flow to fund our operations, capital expenditures, future business opportunities and other purposes; a materially adverse change in our financial condition; adverse consequences of current or future litigation and legal claims; changes in accounting judgments and estimates, accounting principles, policies or guidelines; and other risks detailed in the Company's filings with the Securities and Exchange Commission, including the "Risk Factors" section of the Company's Annual Report on Form 10-K for the fiscal year ended July 31, 2024 , which was filed on September 26, 2024 . All forward-looking statements attributable to us or any persons acting on our behalf are expressly qualified in their entirety by these cautionary statements. All guidance and forward-looking statements in this press release are made as of the date hereof and we do not undertake any obligation to update any forecast or forward-looking statements whether as a result of new information, future events or otherwise, except as may be required by law. Statement Concerning Non-GAAP Financial Measures When reporting financial results, we use the terms Resort Reported EBITDA, Total Reported EBITDA, Resort EBITDA Margin, Net Debt and Net Real Estate Cash Flow, which are not financial measures under accounting principles generally accepted in the United States of America ("GAAP"). Resort Reported EBITDA, Total Reported EBITDA, Resort EBITDA Margin, Net Debt and Net Real Estate Cash Flow should not be considered in isolation or as an alternative to, or substitute for, measures of financial performance or liquidity prepared in accordance with GAAP. In addition, we report segment Reported EBITDA (i.e. Mountain, Lodging and Real Estate), the measure of segment profit or loss required to be disclosed in accordance with GAAP. Accordingly, these measures may not be comparable to similarly-titled measures of other companies. Additionally, with respect to discussion of impacts from currency, the Company calculates the impact by applying current period foreign exchange rates to the prior period results, as the Company believes that comparing financial information using comparable foreign exchange rates is a more objective and useful measure of changes in operating performance. Reported EBITDA (and its counterpart for each of our segments) has been presented herein as a measure of the Company's performance. The Company believes that Reported EBITDA is an indicative measurement of the Company's operating performance, and is similar to performance metrics generally used by investors to evaluate other companies in the resort and lodging industries. The Company defines Resort EBITDA Margin as Resort Reported EBITDA divided by Resort net revenue. The Company believes Resort EBITDA Margin is an important measurement of operating performance. The Company believes that Net Debt is an important measurement of liquidity as it is an indicator of the Company's ability to obtain additional capital resources for its future cash needs. Additionally, the Company believes Net Real Estate Cash Flow is important as a cash flow indicator for its Real Estate segment. See the tables provided in this release for reconciliations of our measures of segment profitability and non-GAAP financial measures to the most directly comparable GAAP financial measures. Vail Resorts, Inc. Consolidated Condensed Statements of Operations (In thousands, except per share amounts) (Unaudited) Three Months Ended October 31, 2024 2023 Net revenue: Mountain and Lodging services and other $ 187,050 $ 182,834 Mountain and Lodging retail and dining 73,162 71,442 Resort net revenue 260,212 254,276 Real Estate 63 4,289 Total net revenue 260,275 258,565 Segment operating expense: Mountain and Lodging operating expense 266,264 255,576 Mountain and Lodging retail and dining cost of products sold 28,947 31,295 General and administrative 106,857 108,025 Resort operating expense 402,068 394,896 Real Estate operating expense 1,491 5,181 Total segment operating expense 403,559 400,077 Other operating (expense) income: Depreciation and amortization (71,633) (66,728) Gain on sale of real property 16,506 6,285 Change in estimated fair value of contingent consideration (2,079) (3,057) Loss on disposal of fixed assets and other, net (1,529) (2,043) Loss from operations (202,019) (207,055) Mountain equity investment income, net 2,151
Coleen Rooney sobs as she's reunited with youngest sons in camp, and they struggle to leave herRJ Thompson scored 23 points -- including the go-ahead 3-pointer with 56 seconds left -- as Charleston Southern shocked host Miami 83-79 on Saturday afternoon. Miami entered the game as a 23.5-point favorite. Charleston (2-7) won its first game of the season away from home after losing its previous six road or neutral-court contests. The Buccaneers also got 21 points from Thompson Camara and 20 points and 11 rebounds from Taje' Kelly. Camara match his previous career point total. Miami (3-4), playing at home for the first time in two weeks, lost its fourth straight game. Brandon Johnson led Miami with 23 points and freshman Austin Swartz scored a career-high 15. Swartz entered the game averaging just 2.3 points For the first time this season, Miami was without Nijel Pack, who has a lower-body injury. Pack leads the team in scoring (15.2) and assists (4.7). With Pack out, five-star freshman Jalil Bethea made his first start and had six points. The game featured quite a contrast in coaches. Miami's Jim Larranaga, 75, has won 743 games in 41-plus seasons. Charleston Southern's Saah Nimley, 31, is in his full first season as a head coach. He was named interim coach in November 2023. In the first half, Miami raced to a 17-10 lead. However, Charleston Southern posted an 11-0 run to grab a 21-17 advantage. The Hurricanes lost control late in the first half as Miami's Johnson hit a 3-pointer and was hit with a technical foul for taunting. Later in the first half, Larranaga was also hit with a technical. By the end of the half, the Buccaneers led 45-37. Camara led Charleston Southern with 16 first-half points on 6-for-7 shooting, including 4-of-5 on 3-pointers. Johnson scored 12 for Miami in the opening half, all on 3-pointers. In the second half, Charleston Southern stretched its lead to 13. Miami rallied as the clock wound down. With 38 seconds left, Miami called a timeout while trailing 81-79. With 15 seconds left, Swartz missed a 3-pointer and the Buccaneers got the rebound. Daylen Berry made two free throws with 11 seconds left to ice the game. Up next, Miami will host No. 19 Arkansas on Tuesday night as part of the ACC/SEC Challenge. Charleston Southern will return home to face Tennessee-Martin on Tuesday night. --Field Level Media
Mutual of America Capital Management LLC lessened its holdings in Perdoceo Education Co. ( NASDAQ:PRDO – Free Report ) by 13.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,285 shares of the company’s stock after selling 1,498 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Perdoceo Education were worth $206,000 as of its most recent filing with the Securities and Exchange Commission. A number of other institutional investors also recently added to or reduced their stakes in the business. Quarry LP boosted its stake in shares of Perdoceo Education by 1,306.3% during the 2nd quarter. Quarry LP now owns 1,350 shares of the company’s stock worth $29,000 after acquiring an additional 1,254 shares in the last quarter. Blue Trust Inc. boosted its stake in shares of Perdoceo Education by 38.7% during the 3rd quarter. Blue Trust Inc. now owns 1,762 shares of the company’s stock worth $38,000 after acquiring an additional 492 shares in the last quarter. Quest Partners LLC purchased a new stake in shares of Perdoceo Education during the 2nd quarter worth approximately $39,000. Fifth Third Bancorp boosted its stake in shares of Perdoceo Education by 650.6% during the 2nd quarter. Fifth Third Bancorp now owns 1,884 shares of the company’s stock worth $40,000 after acquiring an additional 1,633 shares in the last quarter. Finally, Innealta Capital LLC purchased a new stake in shares of Perdoceo Education during the 2nd quarter worth approximately $74,000. Hedge funds and other institutional investors own 93.46% of the company’s stock. Insider Buying and Selling at Perdoceo Education In other news, Director Patrick W. Gross sold 3,400 shares of the business’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $26.74, for a total transaction of $90,916.00. Following the completion of the sale, the director now directly owns 69,635 shares of the company’s stock, valued at $1,862,039.90. The trade was a 4.66 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link . Also, insider Michele A. Peppers sold 6,476 shares of the business’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $21.00, for a total transaction of $135,996.00. Following the sale, the insider now directly owns 61,952 shares of the company’s stock, valued at $1,300,992. This represents a 9.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here . In the last three months, insiders sold 40,450 shares of company stock worth $1,036,206. Insiders own 1.81% of the company’s stock. Wall Street Analysts Forecast Growth Get Our Latest Stock Report on Perdoceo Education Perdoceo Education Stock Performance Shares of PRDO opened at $27.45 on Friday. The stock has a fifty day moving average of $23.34 and a two-hundred day moving average of $22.71. The company has a market capitalization of $1.80 billion, a PE ratio of 13.79, a price-to-earnings-growth ratio of 0.81 and a beta of 1.04. Perdoceo Education Co. has a fifty-two week low of $16.12 and a fifty-two week high of $29.47. Perdoceo Education ( NASDAQ:PRDO – Get Free Report ) last issued its quarterly earnings results on Tuesday, November 12th. The company reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.53 by $0.06. The company had revenue of $169.83 million during the quarter, compared to the consensus estimate of $164.60 million. Perdoceo Education had a return on equity of 15.58% and a net margin of 20.42%. Perdoceo Education’s revenue was down 5.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.64 EPS. As a group, equities research analysts forecast that Perdoceo Education Co. will post 2.27 earnings per share for the current fiscal year. Perdoceo Education Dividend Announcement The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Monday, December 2nd will be issued a $0.13 dividend. The ex-dividend date is Monday, December 2nd. This represents a $0.52 annualized dividend and a yield of 1.89%. Perdoceo Education’s dividend payout ratio (DPR) is presently 26.13%. Perdoceo Education Profile ( Free Report ) Perdoceo Education Corporation provides postsecondary education through online, campus-based, and blended learning programs in the United States. It operates in two segments, Colorado Technical University and The American InterContinental University System. The Colorado Technical University segment offers academic programs, such as business and management, nursing, healthcare management, computer science, engineering, information systems and technology, project management, cybersecurity, and criminal justice. Recommended Stories Five stocks we like better than Perdoceo Education Stock Average Calculator The Latest 13F Filings Are In: See Where Big Money Is Flowing Investing in the High PE Growth Stocks 3 Penny Stocks Ready to Break Out in 2025 What Does a Stock Split Mean? FMC, Mosaic, Nutrien: Top Agricultural Stocks With Big Potential Receive News & Ratings for Perdoceo Education Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Perdoceo Education and related companies with MarketBeat.com's FREE daily email newsletter .Older adults in the U.S. skip needed medical care at much higher rates compared to other developed countries, according recent survey conducted by The Commonwealth Fund . The study said 8% to 9% of older Americans skip necessary treatment compared to just 2% of seniors in countries like Sweden, the Netherlands, the U.K. and Germany. The survey said nearly all Americans aged 65 or older are covered by Medicare and have access to most basic health services. Yet they pay more for health care and are more likely to postpone or skip needed care because of the cost. RELATED STORY | Medicare enrollment is complicated, but saving money doesn't have to be Nearly a quarter of older adults in the U.S. spent at least $2,000 over the past year on out-of-pocket expenses, compared to less than 5% in France and the Netherlands who spent the same amount, the survey said. The survey results are similar for dental and mental health care, The Commonwealth Fund said. One in five older adults in the U.S., Australia and Canada reported skipping needed dental care, compared to 5% or less of older adults in the Netherlands and Germany. The survey said less than 5% of older adults in all countries reported skipping mental health services over the past year because of the cost. RELATED STORY | Medicare premiums will rise yet again in 2025. Here's what you need to know
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