Will Utah State or Boise State play against San Jose State in the Mountain West semifinals?
NoneCowboys WR CeeDee Lamb (shoulder) done for year
YORKTOWN — A U.S. Navy sailor has been charged in the death of a fellow service member in Virginia after officials said the sailor operated a military patrol boat in a negligent manner, the Navy announced Monday. The Navy said in a news release that it’s not releasing the sailor’s name until the charges have been referred to a court-martial. The sailor who died was Lyndon Joel Cosgriff-Flax . The accused sailor faces charges that include negligent homicide, making a false official statement and dereliction of duty. The sailor was assigned to a harbor patrol unit at Naval Weapons Station Yorktown, near the York River and about a 35-mile drive from the nation’s largest naval base in Norfolk. The incident occurred on the York River in late April, according to charging documents. The charge sheet provided few details. It accuses the sailor of “operating a harbor safety boat in a negligent manner” and falsely claiming that Cosgriff-Flax had fallen overboard. Sailor dies during training at Naval Weapons Station Yorktown Click to share on Facebook (Opens in new window) Click to share on X (Opens in new window) Most Popular Underground fire still burning at Williamsburg Premium Outlets; officials advise caution Underground fire still burning at Williamsburg Premium Outlets; officials advise caution 7 people in custody after barricade situation in Norfolk 7 people in custody after barricade situation in Norfolk Underground fire causes partial parking lot collapse at Williamsburg Premium Outlets Underground fire causes partial parking lot collapse at Williamsburg Premium Outlets One nation, under watch: Flock Safety cameras help the police solve crime. But how much should privacy matter? One nation, under watch: Flock Safety cameras help the police solve crime. But how much should privacy matter? Chuck Woolery, smooth-talking game show host of ‘Love Connection’ and ‘Scrabble,’ dies at 83 Chuck Woolery, smooth-talking game show host of ‘Love Connection’ and ‘Scrabble,’ dies at 83 Teel: Return as columnist at The Virginian-Pilot and Daily Press is a privilege Teel: Return as columnist at The Virginian-Pilot and Daily Press is a privilege Corey Hairston retires as Warwick football coach; defensive coordinator Thomas Sykes is named successor Corey Hairston retires as Warwick football coach; defensive coordinator Thomas Sykes is named successor Virginia live election results Virginia live election results Special counsel moves to abandon election interference, classified documents cases against Trump Special counsel moves to abandon election interference, classified documents cases against Trump Newport News man dies, 1 seriously injured in Isle of Wight crash Newport News man dies, 1 seriously injured in Isle of Wight crash Trending Nationally Holiday homecoming for 1,300 Camp Pendleton Marines brings smiles One nation, under watch: Flock Safety cameras help the police solve crime. But how much should privacy matter? Lizzo shows off dramatic weight loss in new photos Lung cancer is the leading cause of cancer deaths here in Florida. Here’s why After bankruptcy court, Spirit sees future as a higher value airline ‘for years to come’Autodesk appoints Janesh Moorjani as chief financial officer
By MATTHEW BROWN and JACK DURA BISMARCK, N.D. (AP) — Donald Trump assigned Doug Burgum a singular mission in nominating the governor of oil-rich North Dakota to lead an agency that oversees a half-billion acres of federal land and vast areas offshore: “Drill baby drill.” That dictate from the president-elect’s announcement of Burgum for Secretary of Interior sets the stage for a reignition of the court battles over public lands and waters that helped define Trump’s first term, with environmentalists worried about climate change already pledging their opposition. Burgum is an ultra-wealthy software industry entrepreneur who grew up on his family’s farm. He represents a tame choice compared to other Trump Cabinet picks. Public lands experts said his experience as a popular two-term governor who aligns himself with conservationist Teddy Roosevelt suggests a willingness to collaborate, as opposed to dismantling from within the agency he is tasked with leading. That could help smooth his confirmation and clear the way for the incoming administration to move quickly to open more public lands to development and commercial use. “Burgum strikes me as a credible nominee who could do a credible job as Interior secretary,” said John Leshy, who served as Interior’s solicitor under former President Bill Clinton. “He’s not a right-wing radical on public lands,” added Leshy, professor emeritus at the University of California College of the Law, San Francisco. The Interior Department manages about one-fifth of the country’s land with a mandate that spans from wildlife conservation and recreation to natural resource extraction and fulfilling treaty obligations with Native American tribes. Most of those lands are in the West, where frictions with private landowners and state officials are commonplace and have sometimes mushroomed into violent confrontations with right-wing groups that reject federal jurisdiction. Burgum if confirmed would be faced with a pending U.S. Supreme Court action from Utah that seeks to assert state power over Interior Department lands. North Dakota’s attorney general has supported the lawsuit, but Burgum’s office declined to say if he backs Utah’s claims. U.S. Justice Department attorneys on Thursday asked the Supreme Court to reject Utah’s lawsuit. They said Utah in 1894 agreed to give up its right to the lands at issue when it became a state. Trump’s narrow focus on fossil fuels is a replay from his 2016 campaign — although minus coal mining, a collapsing industry that he failed to revive in his first term. Trump repeatedly hailed oil as “liquid gold” on the campaign trail this year and largely omitted any mention of coal. About 26% of U.S. oil comes from federal lands and offshore waters overseen by Interior. Production continues to hit record levels under President Joe Biden despite claims by Trump that the Democrat hindered drilling. But industry representatives and their Republican allies say volumes could be further boosted. They want Burgum and the Interior Department to ramp up oil and gas sales from federal lands, in the Gulf of Mexico and offshore Alaska. The oil industry also hopes Trump’s government efficiency initiative led by billionaire Elon Musk can dramatically reduce environmental reviews. Biden’s administration reduced the frequency and size of lease sales, and it restored environmental rules that were weakened under Trump . The Democrat as a candidate in 2020 promised further restrictions on drilling to help combat global warming, but he struck a deal for the 2022 climate bill that requires offshore oil and gas sales to be held before renewable energy leases can be sold. “Oil and gas brings billions of dollars of revenue in, but you don’t get that if you don’t have leasing,” said Erik Milito with the National Ocean Industries Association, which represents offshore industries including oil and wind. Trump has vowed to kill offshore wind energy projects. But Milito said he was hopeful that with Burgum in place it would be “green lights ahead for everything, not just oil and gas.” It is unclear if Burgum would revive some of the most controversial steps taken at the agency during Trump’s first term, including relocating senior officials out of Washington, D.C., dismantling parts of the Endangered Species Act and shrinking the size of two national monuments in Utah designated by former President Barack Obama. Officials under Biden spent much of the past four years reversing Trump’s moves. They restored the Utah monuments and rescinded numerous Trump regulations. Onshore oil and gas lease sales plummeted — from more than a million acres sold annually under Trump and other previous administrations, to just 91,712 acres (37,115 hectares) sold last year — while many wind and solar projects advanced. Developing energy leases takes years, and oil companies control millions of acres that remain untapped. Biden’s administration also elevated the importance of conservation in public lands decisions, adopting a rule putting it more on par with oil and gas development. They proposed withdrawing parcels of land in six states from potential future mining to protect a struggling bird species, the greater sage grouse. North Dakota is among Republican states that challenged the Biden administration’s public lands rule. The states said in a June lawsuit that officials acting to prevent climate change have turned laws meant to facilitate development into policies that obstruct drilling, livestock grazing and other uses. Oil production boomed over the past two decades in North Dakota thanks in large part to better drilling techniques. Burgum has been an industry champion and last year signed a repeal of the state’s oil tax trigger — a price-based tax hike industry leaders supported removing. Burgum’s office declined an interview request. In a statement after his nomination, Burgum echoed Trump’s call for U.S. “energy dominance” in the global market. The 68-year-old governor also said the Interior post offered an opportunity to improve government relations with developers, tribes, landowners and outdoor enthusiasts “with a focus on maximizing the responsible use of our natural resources with environmental stewardship for the benefit of the American people.” Related Articles National Politics | Judge delays Trump hush money sentencing in order to decide where case should go now National Politics | Gaetz’s withdrawal highlights how incoming presidents often lose Cabinet nominees National Politics | What to know about Pam Bondi, Trump’s new pick for attorney general National Politics | Democrat Bob Casey concedes to Republican David McCormick in Pennsylvania Senate contest National Politics | Democrats strike deal to get more Biden judges confirmed before Congress adjourns Under current Interior Secretary Deb Haaland, the agency put greater emphasis on working collaboratively with tribes, including their own energy projects . Haaland, a member of the Pueblo of Laguna tribe in New Mexico, also advanced an initiative to solve criminal cases involving missing and murdered Indigenous peoples and helped lead a nationwide reckoning over abuses at federal Indian boarding schools that culminated in a formal public apology from Biden. Burgum has worked with tribes in his state, including on oil development. Badlands Conservation Alliance director Shannon Straight in Bismarck, North Dakota, said Burgum has also been a big supporter of tourism in North Dakota and outdoor activities such as hunting and fishing. Yet Straight said that hasn’t translated into additional protections for land in the state. “Theodore Roosevelt had a conservation ethic, and we talk and hold that up as a beautiful standard to live by,” he said. “We haven’t seen it as much on the ground. ... We need to recognize the landscape is only going to be as good as some additional protections.” Burgum has been a cheerleader of the planned Theodore Roosevelt Presidential Library in Medora, North Dakota. Brown reported from Billings, Montana.Bruce Flatt, the renowned chief executive officer (CEO) of ( ), has recently made waves in the financial world with a shift in his personal investment strategy. While BAM has long been a cornerstone of his portfolio, Flatt sold a portion of his BAM holdings and reinvested the proceeds into ( ), the parent company of BAM. This decision wasn’t a slight against BAM but a calculated move that aligns with his broader vision for the Brookfield entities. Currently, Flatt holds over US$3 billion worth of shares across both BAM and BN, cementing his faith in the conglomerate’s future. So, should you do the same? What happened? Brookfield stock has had a banner year, making Flatt’s decision appear more strategic than ever. In the third quarter of 2024, the corporation reported record distributable earnings before realizations of US$1.3 billion, a 19% year-over-year increase. This impressive figure was bolstered by significant monetization activities, with the company unlocking US$17 billion through asset sales while simultaneously deploying US$20 billion into new investments. It’s clear that Brookfield is not resting on its laurels but actively managing its portfolio to optimize returns and seize emerging opportunities. One of the highlights of Brookfield’s recent performance has been its ability to capitalize on market conditions. The company sold US$3.2 billion worth of renewable energy assets and US$5.4 billion in real estate transactions, significantly enhancing its liquidity. These moves are emblematic of Brookfield’s approach of strategically exiting mature investments to free up capital for high-growth ventures. Such agility in asset management is likely a key reason why Flatt sees greater long-term value in Brookfield compared to its subsidiaries. In the stock market, BN has been a strong performer, reflecting investor confidence in its growth trajectory. As of writing, BN shares were trading at $83.25, representing a solid gain over the past year. Brookfield’s market cap has grown to an impressive $122.86 billion, up from $108.31 billion just three months prior, showcasing the market’s optimism in its strategic direction. Looking ahead Brookfield’s future outlook is equally compelling. With $150 billion in deployable capital, the company is well-positioned to pursue large-scale opportunities across its diversified sectors. These include real estate, infrastructure, renewable energy, and private equity. This massive war chest provides Brookfield with a competitive edge, allowing it to act decisively in a volatile global market. Additionally, its reputation as a leading alternative asset manager continues to attract institutional investors, further solidifying its financial foundation. Bruce Flatt’s decision to double down on BN speaks to his confidence in the parent company’s ability to drive value creation across the Brookfield ecosystem. By focusing on BN, Flatt aligns himself with the corporation’s broader strategy of creating sustainable, long-term growth through strategic asset rotation and innovative investment management. The move can also be interpreted as a sign of Flatt’s belief in BN’s ability to leverage its scale and diversified operations to weather market uncertainties and outperform over time. What about BAM? This shift in focus doesn’t diminish the role of BAM. BAM’s performance has also been strong, with shares trading near their 52-week high and yielding a that appeals to income-focused investors. However, BN’s structure as the parent company allows it to benefit from BAM’s growth — all while also tapping into the broader opportunities within Brookfield’s other operating entities. This gives BN a unique advantage that Flatt is clearly keen to capitalize on. For Flatt, investing heavily in BN may also be a statement about leadership and alignment. As CEO, his decision to hold a significant stake in the parent company underscores his personal commitment to Brookfield’s success and his confidence in its strategic direction. Such moves often serve to reassure investors that the leadership’s interests are closely tied to their own, fostering greater trust and stability in the stock. Bottom line In essence, Bruce Flatt’s reallocation of investments is a masterclass in strategic positioning. By shifting from BAM to BN, he’s betting on Brookfield’s ability to deliver sustainable growth through its unparalleled scale and diversification. This move reflects not only his confidence in the company. He also has a deep understanding of its unique strengths, making it a fascinating case study for investors and analysts alike.Dow tops 45K for first time — but Wall Street slips as tech stocks slump
Tuesday’s game features the Gardner-Webb Runnin’ Bulldogs (2-3) and the SE Louisiana Lions (2-3) matching up at Hard Rock Hotel Riviera Maya in what should be a one-sided matchup, with a projected 77-66 win for heavily favored Gardner-Webb according to our computer prediction. Game time is at 12:30 PM ET on November 26. Based on our computer prediction, Gardner-Webb is a good bet to cover the point spread, which currently sits at 2.5. The two teams are projected to go over the 141.5 total. Catch tons of live college basketball , plus original programming, with ESPN+ or the Disney Bundle. Place your bets on any men’s college basketball matchup at BetMGM. Sign up today using our link. Gardner-Webb is 3-2-0 against the spread this season compared to SE Louisiana’s 4-0-0 ATS record. A total of three out of the Runnin’ Bulldogs’ games this season have hit the over, and one of the Lions’ games have gone over. The two teams average 140.6 points per game combined, 0.9 less than this matchup’s total. Bet on this or any men’s college basketball matchup at BetMGM. Rep your favorite players with officially licensed gear. Head to Fanatics to find jerseys, shirts, hats, and much more. Not all offers available in all states, please visit BetMGM for the latest promotions for your area. Must be 21+ to gamble, please wager responsibly. If you or someone you know has a gambling problem, contact 1-800-GAMBLER .
Vice President-elect JD Vance is the runaway frontrunner for the Republicans’ 2028 presidential pick, according to an AmericaFest straw poll taken at the event. In one question, the straw poll took a look beyond President-elect Donald Trump’s second term, asking attendees who they would like to see as the 2028 Republican presidential nominee. The majority, 58 percent, want to see Vance as the presidential nominee in 2028. In a distant second place is Donald Trump Jr., with 17 percent. Another six percent said they want to see Florida Gov. Ron DeSantis as the presidential nominee in 2028, and 11 percent remain undecided. On the reverse side, a plurality think California Gov. Gavin Newsom will emerge as the Democrat nominee in 2028 — 35 percent. Just 17 percent believe it will be Vice President Kamala Harris, and 16 percent believe it will be Pennsylvania Gov. Josh Shapiro. Four percent said they think it will be Rep. Alexandria Ocasio-Cortez (D-NY), and 1.6 percent said it will be Transportation Secretary Pete Buttigieg. The survey also asked respondents which Cabinet nominations they are most excited about, and a plurality pointed to Robert F. Kennedy Jr., slated to head up Health and Human Services (HHS). Another 31 percent said Kash Patel, slated to head up the FBI. “When asked to rank all of Trump’s high-profile picks, Patel rose to #1,” Charlie Kirk noted. The survey’s results came shortly after AmericaFest, which took place December 19-22, 2024. Vance remains a favorite among conservatives and has backed Trump’s Cabinet picks, including Defense Secretary Nominee Pete Hegseth, who has remained the victim of a consistent smear campaign by Democrats and the swamp. “Pete Hegseth is going to get his hearing before the Senate Armed Services Committee, not a sham hearing before the American media,” he said , defending the nominee: We believe Pete Hegseth is the right guy to lead the Department of Defense, that’s why President Trump nominated him. We’re not abandoning this nomination. We’re not going to make it easy for people to allow the media to determine who our secretary of defense is. Donald J. Trump, who just won the election by a very significant margin with the advise and consent of the United States Senate. That’s who determines who the Secretary of Defense is. “I fully support Pete. I think Pete is going to get confirmed and we are completely behind him,” Vance added. Many surmised that DeSantis blew up his 2028 chances after a nasty primary battle against Trump, but he has remained publicly supportive of the president-elect and relatively out of the spotlight.Workday Names Rob Enslin President, Chief Commercial Officer
A cup of joe is part of Australian daily life. But while it's now a regular occurrence to fork out $6 for your flat white, it might be about to get even worse. This is because arabica beans have surged to their highest price in 27 years, as supply issues mount among producing nations, leaving suppliers, cafes and consumers to feel the pinch. Arabica coffee is the most widely consumed type of coffee in Australia and the world, making up 60 per cent of the world's coffee production. Robusta coffee beans account for the rest of commercial coffee production. The main differences between arabica and robusta are their flavour, caffeine content and where they are grown. Roy Greenfield is the director of coffee at Zest Specialty Coffee Roasters, a wholesale supplier helping source coffee for cafes and restaurants operating in the nation's self-proclaimed coffee capital, Melbourne. He's worried about the cost and the quality of beans in the future. "The reason why the coffee price is so high is because of a drought and a reduction in coffee stocks in Brazil and Vietnam," Greenfield said. "So the bigger thing that keeps me awake at night is whether I can actually still get the same quality of coffee from those countries." Prices for the arabica bean climbed to US$3.03 a pound (454g), passing $3 for the first time since 2011. Prices have soared by more than 60 per cent this year. This coffee costs $200. Enthusiasts say it's a 'small price to pay' The world's biggest coffee producer, Nestlé, says we can expect prices to keep rising. "Arabica prices are rising and are forecast to rise further in 2025 as high temperatures and limited rainfall are compromising the projected harvest in Brazil," Martin Brown, beverages general manager at Nestlé Oceania, said. The key global coffee producers around the world are Brazil (36 per cent), Vietnam (11 per cent) and Colombia (8 per cent). But as cost pressures press upwards, it's a balancing act that's testing Johnny Sandish's business in Melbourne's bustling Degraves St, Xpressomondo. "Well, we have no choice now. We're losing money. But we cannot put the price any higher otherwise we lose all the customers," Sandish said. Analysts predict arabica prices will need to keep rising in the incoming months to ensure global supply is maintained. Source: SBS News If we're serious about coffee, Greenfield says consumers should get comfortable with paying more. "We say we are the coffee capital of the world. Now's the time to actually invest in that — and that's not just us as a roaster or the cafe, but that's the consumer." "If every cafe in Melbourne put their price up by 50 cents tomorrow morning, that would create sustainability for the cafe owner, the roasters, all the way through to the farmers." Australians drink six billion cups of coffee each year. Here's one way to reuse the waste In a statement to SBS News, Nestlé said: "We are continuing to work to find ways to minimise passing on these costs, but we will not compromise on the quality and taste of our products, or the investment we make in our farmers and coffee growing communities." "We are also investing to help secure a long-term coffee future, including accelerating our transition to regenerative agriculture to help build greater climate resilient coffee crops, improve yields and further support our farmers." How much coffee does Australia drink? Coffee is part of the DNA in Australia, with 75 per cent of us enjoying at least one cuppa each day, according to figures from McCrindle Research. More than one in four Australians can't survive the day without their coffee, while more than four in five buy coffee from cafes each week. The shortages are expected to have worldwide impacts, especially among the world's biggest coffee drinkers. Australia is the 10th largest importer of coffee in the world, importing about 132,000 tonnes of coffee in 2022/23, according to research from ANZ. When it comes to consumption per capita, the US Department of Agriculture ranks Australia eleventh in the world, consuming the equivalent of 4.5kg each of ground coffee per year.Mane attraction transforms livesOrbex developers invite firms to tender for trade packages in ‘key milestone’ for Spaceport development
Percentages: FG .397, FT .714. 3-Point Goals: 6-27, .222 (A.Lewis 2-7, Henry 1-1, Kelley 1-2, Sasaki 1-3, Pettus 1-6, Pilcher 0-1, Smith 0-1, T.Lewis 0-1, Ricks 0-2, Compas 0-3). Team Rebounds: 5. Team Turnovers: None. Blocked Shots: 1 (Smith). Turnovers: 14 (Smith 3, A.Lewis 2, Compas 2, Danak 2, Sasaki 2, Henry, Kelley, Pilcher). Steals: 8 (Compas 4, Pettus 2, Sasaki, Smith). Technical Fouls: None. Percentages: FG .531, FT .720. 3-Point Goals: 14-29, .483 (Ortiz 5-11, de Kovachich 4-4, Jefferson 3-5, Bacchus 1-2, Fields 1-2, Soucie 0-2, Lane 0-3). Team Rebounds: 2. Team Turnovers: None. Blocked Shots: 4 (Jenrette 3, Williams). Turnovers: 13 (Jefferson 5, Soucie 3, Lane 2, Bacchus, Ortiz, de Kovachich). Steals: 9 (Ortiz 3, Fields 2, Jefferson 2, Soucie, de Kovachich). Technical Fouls: None. A_1,127 (4,000).CAMBRIDGE, Mass. , Nov. 26, 2024 /PRNewswire/ -- Akamai Technologies, Inc. (NASDAQ: AKAM ), the cybersecurity and cloud computing company that powers and protects business online, announced that the U.S. Bankruptcy Court for the District of Delaware has approved its bid to acquire select assets from Edgio, including certain customer contracts from Edgio's businesses in content delivery and security, and non-exclusive license rights to patents in Edgio's portfolio. The transaction does not include the acquisition of Edgio personnel, technology, or assets related to the Edgio network. The court approval follows Akamai submitting the winning bid for the select assets during Edgio's 363 bankruptcy auction on November 13, 2024 , as part of its filing for Chapter 11 bankruptcy relief. The court decision provides the necessary approval for the closing of the sale to proceed. When the transaction closes, several hundred net new Akamai customers will have a clear path and the necessary support to smoothly migrate to a best-in-class and reliable provider of the services they need prior to Edgio ceasing operations of its content delivery network. The customers will also have immediate access to the full portfolio of Akamai's cybersecurity and cloud computing services. "Akamai is offering Edgio customers a smooth, secure transition without impacting their business or that of their end users," said Adam Karon , Akamai's Chief Operating Officer and General Manager, Cloud Technology Group. "We have the capacity, capabilities, and experience to help Edgio customers easily migrate to Akamai, and we believe our track record with similar transactions gives us the expertise to help move them to Akamai as seamlessly as possible. We look forward to welcoming these new customers and giving them the opportunity to take advantage of Akamai's full range of security and cloud solutions, which run on the world's most distributed platform." For the fourth quarter of 2024, Akamai expects this transaction to add approximately $9 - $11 million in revenue. As part of its bid, Akamai agreed to pay certain costs for Edgio to operate its network during the transition and wind-down period until such time as Edgio ceases operation of its content delivery network in mid-January 2025 . Akamai expects those transition services costs to be approximately $15 - $17 million in the fourth quarter. Akamai anticipates the transaction to be dilutive to non-GAAP net income per diluted share by approximately $0.03 - $0.05 in the fourth quarter, inclusive of the transition service costs. For the full year 2025, Akamai anticipates this transaction will add approximately $80 - $100 million in revenue, approximately $25 - $30 million of transition service costs, and be accretive to non-GAAP net income per diluted share by approximately $0.15 - $0.20 . "We believe this transaction will create significant value for Akamai and our shareholders," said Ed McGowan , Akamai's Chief Financial Officer. "By integrating these customers onto our platform with its advantageous cost structure, we expect to improve profitability and unlock new growth opportunities. We're excited about the potential to cross-sell and up-sell our advanced security and cloud computing solutions to this expanded customer base." The transaction is expected to close in early December 2024 , subject to customary closing conditions for a transaction of this type. About Akamai Akamai is the cybersecurity and cloud computing company that powers and protects business online. Our market-leading security solutions, superior threat intelligence, and global operations team provide defense-in-depth to safeguard enterprise data and applications everywhere. Akamai's full-stack cloud computing solutions deliver performance and affordability on the world's most distributed platform. Global enterprises trust Akamai to provide the industry-leading reliability, scale, and expertise they need to grow their business with confidence. Learn more at akamai.com and akamai.com/blog , or follow Akamai Technologies on X and LinkedIn . Contacts Akamai Public Relations [email protected] Akamai Investor Relations [email protected] Akamai Statement Under the Private Securities Litigation Reform Act This press release contains statements that are not statements of historical fact and constitute forward-looking statements for purposes of the safe harbor provisions under The Private Securities Litigation Reform Act of 1995, including, but not limited to, statements about: management's guidance regarding the expected impact of the transaction on Akamai, including its expected impact on revenue, non-GAAP net income per diluted share, capital expenditures, and new customer additions; the potential benefits of the transaction to Akamai, its customers and its shareholders; expectations regarding customer migration in connection with the transaction; expected transition services costs; the expected duration of Edgio's transition and wind-down period; and the expected closing date of the transaction. Each of the forward-looking statements is subject to change as a result of various important factors, many of which are beyond the company's control, including, but not limited to: the risk that the transaction may not be completed in a timely manner or at all; the parties' ability to satisfy closing conditions; the occurrence of any event, change or other circumstance that could give rise to the termination of the transaction agreements; Akamai being unable to achieve the anticipated benefits of the transaction; the risk that customer migration may be more difficult, time-consuming or costly than expected; the retention of key personnel during the transition period; potential adverse reactions or changes to business relationships resulting from the announcement or completion of the proposed transaction; effects of competition, including pricing pressure and changing business models; impact of macroeconomic trends, including economic uncertainty, turmoil in the financial services industry, the effects of inflation, rising and fluctuating interest rates, foreign currency exchange rate fluctuations, securities market volatility and monetary supply fluctuations; continuing supply chain and logistics costs, constraints, changes or disruptions; defects or disruptions in Akamai's products or IT systems, including cyber-attacks, data breaches or malware; changes to economic, political and regulatory conditions in the United States or internationally; and other factors that are discussed in the company's most recent Annual Report on Form 10-K, subsequent quarterly reports on Form 10-Q and other documents filed with the Securities and Exchange Commission. All information provided in this press release is as of the date of this press release, and Akamai does not undertake any obligation to update any forward-looking statement, except as required under applicable law. Use of Non-GAAP Financial Measures In addition to providing financial measurements based on generally accepted accounting principles in the United States of America (GAAP), Akamai provides additional financial metrics that are not prepared in accordance with GAAP (non-GAAP financial measures). Management uses non-GAAP financial measures, in addition to GAAP financial measures, to understand and compare operating results across accounting periods, for financial and operational decision making, for planning and forecasting purposes, to measure executive compensation and to evaluate Akamai's financial performance. The non-GAAP financial measure used in this release is non-GAAP net income per diluted share. Management believes that these non-GAAP financial measures reflect Akamai's ongoing business in a manner that allows for meaningful comparisons and analysis of trends in the business, as they facilitate comparison of financial results across accounting periods and to those of our peer companies. Management also believes that these non-GAAP financial measures enable investors to evaluate Akamai's operating results and future prospects in the same manner as management. These non-GAAP financial measures may exclude expenses and gains that may be unusual in nature, infrequent or not reflective of Akamai's ongoing operating results. The non-GAAP financial measures do not replace the presentation of Akamai's GAAP financial results and should only be used as a supplement to, not as a substitute for, Akamai's financial results presented in accordance with GAAP. In addition, the financial guidance contained in this press release that is provided on a non-GAAP basis cannot be reconciled to the closest GAAP measures without unreasonable effort because of the unpredictability of the amounts and timing of events affecting the items we exclude from non-GAAP measures. For example, stock-based compensation is unpredictable for Akamai's performance-based awards, which can fluctuate significantly based on current expectations of the future achievement of performance-based targets. Amortization of intangible assets, acquisition-related costs and restructuring costs are all impacted by the timing and size of potential future actions, which are difficult to predict. In addition, from time to time, Akamai excludes certain items that occur infrequently, which are also inherently difficult to predict and estimate. It is also difficult to predict the tax effect of the items we exclude and to estimate certain discrete tax items, such as the resolution of tax audits or changes to tax laws. As such, the costs that are being excluded from non-GAAP guidance are difficult to predict and a reconciliation or a range of results could lead to disclosure that would be imprecise or potentially misleading. Material changes to any one of the exclusions could have a significant effect on our guidance and future GAAP results. Akamai's definition of the non-GAAP measures used in this press release are outlined below: Non-GAAP net income per diluted share – Non-GAAP net income divided by weighted average diluted common shares outstanding. Diluted weighted average common shares outstanding are adjusted in non-GAAP per share calculations for the shares that would be delivered to Akamai pursuant to the note hedge transactions entered into in connection with the issuances of $1,265 million of convertible senior notes due 2029 and the issuances of $1,150 million of convertible senior notes due 2027 and 2025, respectively. Under GAAP, shares delivered under hedge transactions are not considered offsetting shares in the fully-diluted share calculation until they are delivered. However, Akamai would receive a benefit from the note hedge transactions and would not allow the dilution to occur, so management believes that adjusting for this benefit provides a meaningful view of operating performance. With respect to the convertible senior notes due in each of 2029, 2027 and 2025, unless Akamai's weighted average stock price is greater than $126.31 , $116.18 and $95.10 , respectively, the initial conversion prices, there will be no difference between GAAP and non-GAAP diluted weighted average common shares outstanding. Non-GAAP net income – GAAP net income adjusted for the following tax-affected items: amortization of acquired intangible assets; stock-based compensation; amortization of capitalized stock-based compensation; acquisition-related costs; restructuring charges; amortization of debt issuance costs; amortization of capitalized interest expense; certain gains and losses on investments; gains and losses from equity method investment; and other non-recurring or unusual items that may arise from time to time. The non-GAAP adjustments, and Akamai's basis for excluding them from non-GAAP financial measures, are outlined below: Amortization of acquired intangible assets – Akamai has incurred amortization of intangible assets, included in its GAAP financial statements, related to various acquisitions Akamai has made. The amount of an acquisition's purchase price allocated to intangible assets and term of its related amortization can vary significantly and is unique to each acquisition; therefore, Akamai excludes amortization of acquired intangible assets from its non-GAAP financial measures to provide investors with a consistent basis for comparing pre- and post-acquisition operating results. Stock-based compensation and amortization of capitalized stock-based compensation – Stock-based compensation is an important aspect of the compensation paid to Akamai's employees which includes long-term incentive plans to encourage retention, performance-based plans to encourage achievement of specified financial targets and also short-term incentive awards with a one year vest. The grant date fair value of the stock-based compensation awards varies based on the stock price at the time of grant, varying valuation methodologies, subjective assumptions and the variety of award types. This makes the comparison of Akamai's current financial results to previous and future periods difficult to interpret; therefore, Akamai believes it is useful to exclude stock-based compensation and amortization of capitalized stock-based compensation from its non-GAAP financial measures in order to highlight the performance of Akamai's core business and to be consistent with the way many investors evaluate its performance and compare its operating results to peer companies. Acquisition-related costs – Acquisition-related costs include transaction fees, advisory fees, due diligence costs and other direct costs associated with strategic activities, as well as certain additional compensation costs payable to employees acquired from the Linode acquisition if employed for a certain period of time. The additional compensation cost was initiated by and determined by the seller, and is in addition to normal levels of compensation, including retention programs, offered by Akamai. Acquisition-related costs are impacted by the timing and size of the acquisitions, and Akamai excludes acquisition-related costs from its non-GAAP financial measures to provide a useful comparison of operating results to prior periods and to peer companies because such amounts vary significantly based on the magnitude of the acquisition transactions and do not reflect Akamai's core operations. Restructuring charge – Akamai has incurred restructuring charges from programs that have significantly changed either the scope of the business undertaken by the Company or the manner in which that business is conducted. These charges include severance and related expenses for workforce reductions, impairments of long-lived assets that will no longer be used in operations (including acquired intangible assets, right-of-use assets, other facility-related property and equipment and internal-use software) and termination fees for any contracts canceled as part of these programs. Akamai excludes these items from its non-GAAP financial measures when evaluating its continuing business performance as such items vary significantly based on the magnitude of the restructuring action and do not reflect expected future operating expenses. In addition, these charges do not necessarily provide meaningful insight into the fundamentals of current or past operations of its business. Amortization of debt issuance costs and capitalized interest expense – Akamai has convertible senior notes outstanding that mature in 2029, 2027 and 2025. The issuance costs of the convertible senior notes are amortized to interest expense and are excluded from Akamai's non-GAAP results because management believes the non-cash amortization expense is not representative of ongoing operating performance. Gains and losses on investments – Akamai has recorded gains and losses from the disposition, changes to fair value and impairment of certain investments. Akamai believes excluding these amounts from its non-GAAP financial measures is useful to investors as the types of events giving rise to these gains and losses are not representative of Akamai's core business operations and ongoing operating performance. Gains and losses from equity method investment – Akamai records income or losses on its share of earnings and losses from its equity method investment, and any gains from returns of investments or impairments. Akamai excludes such income and losses because it does not have direct control over the operations of the investment and the related income and losses are not representative of its core business operations. Income tax effect of non-GAAP adjustments and certain discrete tax items – The non-GAAP adjustments described above are reported on a pre-tax basis. The income tax effect of non-GAAP adjustments is the difference between GAAP and non-GAAP income tax expense. Non-GAAP income tax expense is computed on non-GAAP pre-tax income (GAAP pre-tax income adjusted for non-GAAP adjustments) and excludes certain discrete tax items (such as the impact of intercompany sales of intellectual property related to acquisitions), if any. Akamai believes that applying the non-GAAP adjustments and their related income tax effect allows Akamai to highlight income attributable to its core operations. SOURCE Akamai Technologies, Inc.