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By Stephen Beech via SWNS Cleaning surfaces every two hours at airports cuts potentially deadly norovirus infections by 83%, according to a new study. Researchers found that airport restaurants had the highest risk of norovirus transmission . But frequently disinfecting surfaces, mask-wearing and antimicrobial surface coatings at the transport hubs can all help prevent the highly contagious illness - also known as the winter vomiting bug - from spreading, say scientists. Study author Professor Nan Zhang, of the Beijing University of Technology in China, said: "Norovirus causes severe vomiting and diarrhea and is responsible for about 685 million cases and 200,000 deaths each year. "The virus is primarily transmitted through surfaces and outbreaks during air travel are especially common, due to the large number of public surfaces in airports." To investigate the risk of norovirus infection from surfaces among passengers in different zones of the airport, the research team collected real touch data from 21.3 hours of video, which captured almost 26,000 touches. They developed a model of surface transmission and simulated the risk of infection from norovirus and the effectiveness of various interventions in different airport areas. Zhang said: "The touch data showed that, without any interventions, restaurants at airports had the highest risk of norovirus transmission, with approximately 4.6 out of 51,494 travelers infected. "Disinfecting public surfaces every two hours reduced the risk of norovirus infection per visit to the airport by 83.2%. "In contrast, handwashing every two hours reduced the risk by only 2%, and mask-wearing 50% of the time reduced risk by 48.0%, because masks stop people from touching their face. "Furthermore, using antimicrobial copper or copper-nickel alloy coatings for most public surfaces lowered the infection risk by 15.9% to 99.2%." He says the study, published in the journal PLOS Computational Biology , provides "crucial" insights for developing infection prevention and control strategies specifically tailored for norovirus within airport environments. Zhang noted that the data for the study was collected during the COVID-19 pandemic , so surface-touching behaviors may have been different from normal. But he said that, overall, the simulated results indicated that public surface disinfection, mask-wearing wearing and the use of antimicrobial surfaces are effective ways of controlling the spread of norovirus via surfaces. Zhang added: "Regular surface infection is much more effective than regular handwashing for blocking norovirus transmission via fomite route in airports."CSE announces constituent change in S&P Sri Lanka 20 indexNone
GRAPEVINE, Texas, Dec. 10, 2024 (GLOBE NEWSWIRE) -- GameStop Corp. GME ("GameStop" or the "Company") today released financial results for the third quarter ended November 2, 2024. The Company's condensed and consolidated financial statements, including GAAP and non-GAAP results, are below. The Company's Form 10-Q and supplemental information can be found at https://investor.gamestop.com . THIRD QUARTER OVERVIEW Net sales were $0.860 billion for the period, compared to $1.078 billion in the prior year's third quarter. Selling, general and administrative ("SG&A") expenses were $282.0 million for the period, compared to $296.5 million in the prior year's third quarter. Net income was $17.4 million for the period, compared to a net loss of $3.1 million for the prior year's third quarter. Cash, cash equivalents and marketable securities were $4.616 billion at the close of the quarter. During the quarter, the Company completed its previously disclosed "at-the-market" equity offering program pursuant to the prospectus supplement filed with the SEC on September 6, 2024 by selling 20.0 million shares of its common stock for aggregate gross proceeds of approximately $400.0 million (before commissions and offering expenses). The Company does not anticipate any further at-the-market offerings involving the offer and sale of its common stock during the current fiscal year. The Company will not be holding a conference call today. Additional information can be found in the Company's Form 10-Q. NON-GAAP MEASURES AND OTHER METRICS As a supplement to the Company's financial results presented in accordance with U.S. generally accepted accounting principles ("GAAP"), GameStop may use certain non-GAAP measures, such as adjusted SG&A expenses, adjusted operating loss, adjusted net income (loss), adjusted earnings (loss) per share, adjusted EBITDA and free cash flow. The Company believes these non-GAAP financial measures provide useful information to investors in evaluating the Company's core operating performance. Adjusted SG&A expenses, adjusted operating loss, adjusted net income (loss), adjusted earnings (loss) per share and adjusted EBITDA exclude the effect of items such as certain transformation costs, asset impairments, severance, as well as divestiture costs. Free cash flow excludes capital expenditures otherwise included in net cash flows provided by (used in) operating activities. The Company's definition and calculation of non-GAAP financial measures may differ from that of other companies. Non-GAAP financial measures should be viewed as supplementing, and not as an alternative or substitute for, the Company's financial results prepared in accordance with GAAP. Certain of the items that may be excluded or included in non-GAAP financial measures may be significant items that could impact the Company's financial position, results of operations or cash flows and should therefore be considered in assessing the Company's actual and future financial condition and performance. CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS - SAFE HARBOR This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements are based upon management's current beliefs, views, estimates and expectations, including as to the Company's industry, business strategy, goals and expectations concerning its market position, strategic and transformation initiatives, future operations, margins, profitability, sales growth, capital expenditures, liquidity, capital resources, expansion of technology expertise, and other financial and operating information, including expectations as to future operating profit improvement. Forward-looking statements are subject to significant risks and uncertainties and actual developments, business decisions, outcomes and results may differ materially from those reflected or described in the forward-looking statements. The following factors, among others, could cause actual developments, business decisions, outcomes and results to differ materially from those reflected or described in the forward-looking statements: economic, social, and political conditions in the markets in which we operate; the competitive nature of the Company's industry; the cyclicality of the video game industry; the Company's dependence on the timely delivery of new and innovative products from its vendors; the impact of technological advances in the video game industry and related changes in consumer behavior on the Company's sales; interruptions to the Company's supply chain or the supply chain of our suppliers; the Company's dependence on sales during the holiday selling season; the Company's ability to obtain favorable terms from its current and future suppliers and service providers; the Company's ability to anticipate, identify and react to trends in pop culture with regard to its sales of collectibles; the Company's ability to maintain strong retail and ecommerce experiences for its customers; the Company's ability to keep pace with changing industry technology and consumer preferences; the Company's ability to manage its profitability and cost reduction initiatives; turnover in senior management or the Company's ability to attract and retain qualified personnel; potential damage to the Company's reputation or customers' perception of the Company; the Company's ability to maintain the security or privacy of its customer, associate or Company information; occurrence of weather events, natural disasters, public health crises and other unexpected events; risks associated with inventory shrinkage; potential failure or inadequacy of the Company's computerized systems; the ability of the Company's third party delivery services to deliver products to the Company's retail locations, fulfillment centers and consumers and changes in the terms the Company has with such service providers; the ability and willingness of the Company's vendors to provide marketing and merchandising support at historical or anticipated levels; restrictions on the Company's ability to purchase and sell pre-owned products; the Company's ability to renew or enter into new leases on favorable terms; unfavorable changes in the Company's global tax rate; legislative actions; the Company's ability to comply with federal, state, local and international laws and regulations and statutes; potential future litigation and other legal proceedings; the value of the Company's securities holdings; concentration of the Company's investment portfolio into one or few holdings; the recognition of losses in a particular security even if the Company has not sold the security; volatility in the Company's stock price, including volatility due to potential short squeezes; continued high degrees of media coverage by third parties; the availability and future sales of substantial amounts of the Company's Class A common stock; fluctuations in the Company's results of operations from quarter to quarter; the Company's ability to incur additional debt; risks associated with the Company's investment in marketable, nonmarketable and interest-bearing securities, including the impact of such investments on the Company's financial results; and the Company's ability to maintain effective control over financial reporting. Additional factors that could cause results to differ materially from those reflected or described in the forward-looking statements can be found in GameStop's most recent Annual Report on Form 10-K and other filings made from time to time with the SEC and available at www.sec.gov or on the Company's investor relations website ( https://investor.gamestop.com ). Forward-looking statements contained in this press release speak only as of the date of this press release. The Company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by any applicable securities laws. GameStop Corp. Condensed Statements of Operations (in millions, except per share data) (unaudited) 13 Weeks Ended November 2, 2024 13 Weeks Ended October 28, 2023 Net sales $ 860.3 $ 1,078.3 Cost of sales 603.1 796.5 Gross profit 257.2 281.8 Selling, general and administrative expenses 282.0 296.5 Asset Impairments 8.6 — Operating loss (33.4 ) (14.7 ) Interest income, net (54.2 ) (12.9 ) Other expense, net — 2.5 Income (loss) before income taxes 20.8 (4.3 ) Income tax expense (benefit) 3.4 (1.2 ) Net income (loss) $ 17.4 $ (3.1 ) Net income (loss) per share: Basic Income (loss) per share $ 0.04 $ (0.01 ) Diluted income (loss) per share $ 0.04 $ (0.01 ) Weighted-average common shares outstanding: Basic 437.4 305.3 Diluted 437.9 305.3 Percentage of Net Sales: Net sales 100.0 % 100.0 % Cost of sales 70.1 73.9 Gross profit 29.9 26.1 Selling, general and administrative expenses 32.8 27.5 Asset Impairments 1.0 — Operating loss (3.9 ) (1.4 ) Interest income, net (6.3 ) (1.2 ) Other income, net — 0.2 Income (loss) before income taxes 2.4 (0.4 ) Income tax expense (benefit) 0.4 (0.1 ) Net income (loss) 2.0 % (0.3 )% GameStop Corp. Consolidated Statements of Operations (in millions, except per share data) (unaudited) 39 Weeks Ended November 2, 2024 39 Weeks Ended October 28, 2023 Net sales $ 2,540.4 $ 3,479.2 Cost of sales 1,789.9 2,604.2 Gross profit 750.5 875.0 Selling, general and administrative expenses 847.9 964.7 Asset Impairments 8.6 — Operating loss (106.0 ) (89.7 ) Interest income, net (108.6 ) (34.2 ) Other expense, net — 2.4 Income (loss) before income taxes 2.6 (57.9 ) Income tax expense (benefit) 2.6 (1.5 ) Net Income (loss) $ 0.0 $ (56.4 ) Net income (loss) per share: Basic loss per share $ 0.00 $ (0.18 ) Diluted loss per share $ 0.00 $ (0.18 ) Weighted-average common shares outstanding: Basic 376.6 304.9 Diluted 377.1 304.9 Percentage of Net Sales: Net sales 100.0 % 100.0 % Cost of sales 70.5 74.9 Gross profit 29.5 25.1 Selling, general and administrative expenses 33.4 27.7 Asset Impairments 0.3 — Operating loss (4.2 ) (2.6 ) Interest income, net (4.3 ) (1.0 ) Other income, net — 0.1 Earnings (loss) before income taxes 0.1 (1.7 ) Income tax expense (benefit) 0.1 — Net income (loss) 0.0 % (1.7 )% GameStop Corp. Condensed Consolidated Balance Sheets (in millions) (unaudited) November 2, 2024 October 28, 2023 ASSETS: Current assets: Cash and cash equivalents $ 4,583.4 $ 909.0 Marketable securities 32.8 300.5 Receivables, net of allowance of $3.8 and $2.1, respectively 57.5 88.3 Merchandise inventories, net 830.2 1,021.3 Prepaid expenses and other current assets 119.4 57.7 Total current assets 5,623.3 2,376.8 Property and equipment, net of accumulated depreciation of $768.9 and $973.0, respectively 70.5 114.5 Operating lease right-of-use assets 425.3 570.4 Deferred income taxes 17.7 16.6 Other noncurrent assets 103.4 68.6 Total assets $ 6,240.2 $ 3,146.9 LIABILITIES AND STOCKHOLDERS' EQUITY: Current liabilities: Accounts payable $ 494.1 $ 812.7 Accrued liabilities and other current liabilities 437.0 425.7 Current portion of operating lease liabilities 157.6 188.9 Current portion of long-term debt 10.9 10.5 Total current liabilities 1,099.6 1,437.8 Long-term debt, net 9.6 20.0 Operating lease liabilities 285.4 394.8 Other long-term liabilities 41.1 31.5 Total liabilities 1,435.7 1,884.1 Total stockholders' equity 4,804.5 1,262.8 Total liabilities and stockholders' equity $ 6,240.2 $ 3,146.9 GameStop Corp. Condensed Consolidated Statements of Cash Flows (in millions) (unaudited) 13 Weeks Ended November 2, 2024 13 Weeks Ended October 28, 2023 Cash flows from operating activities: Net income (loss) $ 17.5 $ (3.1 ) Adjustments to reconcile net loss to net cash flows from operating activities: Depreciation and amortization 8.5 11.3 Stock-based compensation expense, net 4.9 6.4 Asset impairments 8.6 — Gain on disposal of property and equipment, net (4.1 ) (5.6 ) Other, net 0.6 5.8 Changes in operating assets and liabilities: Receivables, net (0.1 ) (13.3 ) Merchandise inventories, net (271.3 ) (357.5 ) Prepaid expenses and other current assets (90.5 ) 1.7 Prepaid income taxes and income taxes payable (3.3 ) (3.8 ) Accounts payable and accrued liabilities 331.5 381.9 Operating lease right-of-use assets and liabilities 0.1 (3.7 ) Changes in other long-term liabilities 22.2 (1.0 ) Net cash flows provided by operating activities 24.6 19.1 Cash flows from investing activities: Proceeds from sale of property and equipment 5.5 13.1 Purchases of marketable securities (21.7 ) — Capital expenditures (4.6 ) (8.0 ) Other 0.3 — Net cash flows (used in) provided by investing activities (20.5 ) 5.1 Cash flows from financing activities: Repayments of debt (2.8 ) (2.6 ) Proceeds from issuance of shares in at-the-market (ATM) offering, net of costs 398.1 — Net cash flows provided by (used in) financing activities 395.3 (2.6 ) Exchange rate effect on cash, cash equivalents and restricted cash 0.2 (7.6 ) Increase (decrease) in cash, cash equivalents, and restricted cash 399.6 14.0 Cash, cash equivalents and restricted cash at beginning of period 4,217.0 915.2 Cash, cash equivalents and restricted cash at end of period $ 4,616.6 $ 929.2 GameStop Corp. Condensed Consolidated Statements of Cash Flows (in millions) (unaudited) 39 Weeks Ended November 2, 2024 39 Weeks Ended October 28, 2023 Cash flows from operating activities: Net loss $ 0.0 $ (56.4 ) Adjustments to reconcile net loss to net cash flows from operating activities: Depreciation and amortization 32.9 37.6 Stock-based compensation expense, net 10.9 14.0 Asset impairments 8.6 — Gain on disposal of property and equipment, net (6.4 ) (5.0 ) Other, net 1.1 2.9 Changes in operating assets and liabilities: Receivables, net 33.8 65.7 Merchandise inventories, net (198.6 ) (357.1 ) Prepaid expenses and other current assets (92.6 ) 5.7 Prepaid income taxes and income taxes payable (6.7 ) (5.1 ) Accounts payable and accrued liabilities 187.8 114.5 Operating lease right-of-use assets and liabilities 0.6 (7.1 ) Changes in other long-term liabilities 12.0 (2.4 ) Net cash flows used in operating activities (16.6 ) (192.7 ) Cash flows from investing activities: Proceeds from sale of digital assets — 2.8 Purchases of marketable securities (29.2 ) (313.0 ) Proceeds from the maturities and sales of marketable securities 273.9 270.5 Capital expenditures (12.6 ) (27.2 ) Proceeds from sale of property and equipment 15.3 13.1 Other 0.3 — Net cash flows provided by (used in) investing activities 247.7 (53.8 ) Cash flows from financing activities: Settlements of stock-based awards — (0.1 ) Repayments of debt (8.3 ) (8.0 ) Proceeds from issuance of shares in at-the-market (ATM) offering, net of costs 3,453.8 — Net cash flows provided by (used in) financing activities 3,445.5 (8.1 ) Exchange rate effect on cash, cash equivalents and restricted cash 1.1 (12.2 ) Increase (decrease) in cash, cash equivalents and restricted cash 3,677.7 (266.8 ) Cash, cash equivalents and restricted cash at beginning of period 938.9 1,196.0 Cash, cash equivalents and restricted cash at end of period $ 4,616.6 $ 929.2 Schedule I Sales Mix (in millions) (unaudited) 13 Weeks Ended November 2, 2024 13 Weeks Ended October 28, 2023 Net Percent Net Percent Net Sales: Sales of Total Sales of Total Hardware and accessories (1) $ 417.4 48.5 % $ 579.4 53.7 % Software (2) 271.8 31.6 % 321.3 29.8 % Collectibles 171.1 19.9 % 177.6 16.5 % Total $ 860.3 100.0 % $ 1,078.3 100.0 % 39 Weeks Ended November 2, 2024 39 Weeks Ended October 28, 2023 Net Percent Net Percent Net Sales: Sales of Total Sales of Total Hardware and accessories (1) $ 1,373.9 54.1 % $ 1,902.2 54.7 % Software (2) 719.2 28.3 % 1,056.7 30.3 % Collectibles 447.3 17.6 % 520.3 15.0 % Total $ 2,540.4 100.0 % $ 3,479.2 100.0 % (1) Includes sales of new and pre-owned hardware, accessories, hardware bundles in which hardware and digital or physical software are sold together in a single SKU, interactive game figures, strategy guides, mobile and consumer electronics. (2) Includes sales of new and pre-owned video game software, digital software and PC entertainment software. GameStop Corp. Schedule II (in millions, except per share data) (unaudited) Non-GAAP results The following tables reconcile the Company's selling, general and administrative expenses ("SG&A expense"), operating loss, net income (loss) and net income (loss) per share as presented in its unaudited consolidated statements of operations and prepared in accordance with U.S. generally accepted accounting principles ("GAAP") to its adjusted SG&A expense, adjusted operating loss, adjusted net income (loss), adjusted EBITDA and adjusted net income (loss) per share. The diluted weighted-average shares outstanding used to calculate adjusted earnings per share may differ from GAAP weighted-average shares outstanding. Under GAAP, basic and diluted weighted-average shares outstanding are the same in periods where there is a net loss. The reconciliations below are from continuing operations only. 13 Weeks Ended 13 Weeks Ended 39 Weeks Ended 39 Weeks Ended November 2, 2024 October 28, 2023 November 2, 2024 October 28, 2023 Adjusted SG&A expense SG&A expense $ 282.0 $ 296.5 $ 847.9 $ 964.7 Transformation costs (1) (0.2 ) (1.6 ) 13.7 (4.7 ) Adjusted SG&A expense $ 281.8 $ 294.9 $ 861.6 $ 960.0 Adjusted Operating Loss Operating loss $ (33.4 ) $ (14.7 ) $ (106.0 ) $ (89.7 ) Transformation costs (1) 0.2 1.6 (13.7 ) 4.7 Asset impairments 8.6 — 8.6 — Adjusted operating loss $ (24.6 ) $ (13.1 ) $ (111.1 ) $ (85.0 ) Adjusted Net Income (Loss) Net Income (loss) $ 17.4 $ (3.1 ) $ — $ (56.4 ) Transformation costs (1) 0.2 1.6 (13.7 ) 4.7 Asset impairments (2) 8.6 — 8.6 — Divestitures and other — 2.5 — 1.4 Adjusted net income (loss) $ 26.2 $ 1.0 $ (5.1 ) $ (50.3 ) Adjusted net income (loss) per share Basic $ 0.06 $ 0.00 $ (0.01 ) $ (0.16 ) Diluted 0.06 0.00 (0.01 ) (0.16 ) Number of shares used in adjusted calculation Basic 437.4 305.3 376.6 304.9 Diluted 437.9 305.4 377.1 304.9 (1) Transformation costs include severance, stock-based compensation forfeitures related to workforce optimization efforts and departures of key personnel, adjustments to reserves for expenses for consultants and advisors related to transformation initiatives, and other costs in connection with the transformation initiatives. (2) Incurred in connection with plans initiated during the third quarter of fiscal 2024 to divest our operations in Italy and wind down our operations in Germany. 13 Weeks Ended 13 Weeks Ended 39 Weeks Ended 39 Weeks Ended November 2, 2024 October 28, 2023 November 2, 2024 October 28, 2023 Reconciliation of Net Income (loss) to Adjusted EBITDA Net income (loss) $ 17.4 $ (3.1 ) $ — $ (56.4 ) Interest income, net (54.2 ) (12.9 ) (108.6 ) (34.2 ) Depreciation and amortization 8.5 11.3 32.9 37.6 Income tax expense (benefit) 3.4 (1.2 ) 2.6 (1.5 ) EBITDA $ (24.9 ) $ (5.9 ) $ (73.1 ) $ (54.5 ) Stock-based compensation 4.9 6.9 10.9 25.1 Transformation costs (1) 0.2 1.6 (13.7 ) 4.7 Divestitures and other — 2.5 — 1.4 Asset impairments (2) 8.6 — 8.6 — Adjusted EBITDA $ (11.2 ) $ 5.1 $ (67.3 ) $ (23.3 ) (1) Transformation costs include severance, stock-based compensation forfeitures related to workforce optimization efforts and departures of key personnel, adjustments to reserves for expenses for consultants and advisors related to transformation initiatives, and other costs in connection with the transformation initiatives. (2) Incurred in connection with plans initiated during the third quarter of fiscal 2024 to divest our operations in Italy and wind down our operations in Germany. GameStop Corp. Schedule III (in millions) (unaudited) Non-GAAP results The following table reconciles the Company's cash flows provided by (used in) operating activities as presented in its unaudited Consolidated Statements of Cash Flows and prepared in accordance with GAAP to its free cash flow. Free cash flow is considered a non-GAAP financial measure. Management believes, however, that free cash flow, which measures our ability to generate additional cash from our business operations, is an important financial measure for use by investors in evaluating the company's financial performance. 13 Weeks Ended 13 Weeks Ended 39 Weeks Ended 39 Weeks Ended November 2, 2024 October 28, 2023 November 2, 2024 October 28, 2023 Net cash flows provided by (used in) operating activities $ 24.6 $ 19.1 $ (16.6 ) $ (192.7 ) Capital expenditures $ (4.6 ) $ (8.0 ) $ (12.6 ) $ (27.2 ) Free cash flow $ 20.0 $ 11.1 $ (29.2 ) $ (219.9 ) Non-GAAP Measures and Other Metrics Adjusted EBITDA, adjusted SG&A expense, adjusted operating loss, adjusted net income (loss) and adjusted net income (loss) per share are supplemental financial measures of the Company's performance that are not required by, or presented in accordance with, GAAP. We believe that the presentation of these non-GAAP financial measures provide useful information to investors in assessing our financial condition and results of operations. We define adjusted EBITDA as net income (loss) before income taxes, plus interest income, net and depreciation and amortization, excluding stock-based compensation, certain transformation costs, business divestitures, asset impairments, severance and other non-cash charges. Net income (loss) is the GAAP financial measure most directly comparable to adjusted EBITDA. Our non-GAAP financial measures should not be considered as an alternative to the most directly comparable GAAP financial measure. Furthermore, non-GAAP financial measures have limitations as an analytical tool because they exclude some but not all items that affect the most directly comparable GAAP financial measures. Some of these limitations include: certain items excluded from adjusted EBITDA are significant components in understanding and assessing a company's financial performance, such as a company's cost of capital and tax structure; adjusted EBITDA does not reflect our cash expenditures or future requirements for capital expenditures or contractual commitments; adjusted EBITDA does not reflect changes in, or cash requirements for, our working capital needs; although depreciation and amortization are non-cash charges, the assets being depreciated and amortized will often have to be replaced in the future, and adjusted EBITDA does not reflect any cash requirements for such replacements; and our computations of adjusted EBITDA may not be comparable to other similarly titled measures of other companies. We compensate for the limitations of adjusted EBITDA, adjusted SG&A expense, adjusted operating loss, adjusted net income (loss) and adjusted net income (loss) per share as analytical tools by reviewing the comparable GAAP financial measure, understanding the differences between the GAAP and non-GAAP financial measures and incorporating these data points into our decision-making process. Adjusted EBITDA, adjusted SG&A expense, adjusted operating loss, adjusted net income (loss) and adjusted net income (loss) per share are provided in addition to, and not as an alternative to, the Company's financial results prepared in accordance with GAAP, and should not be considered in isolation or as a substitute for analysis of our results as reported under GAAP. Because adjusted EBITDA, adjusted SG&A expense, adjusted operating loss, adjusted net income (loss) and adjusted net income (loss) per share may be defined and determined differently by other companies in our industry, our definitions of these non-GAAP financial measures may not be comparable to similarly titled measures of other companies, thereby diminishing their utility. Contact GameStop Investor Relations 817-424-2001 ir@gamestop.com © 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.What Is Willow, Google’s New Computing Quantum Chip? By recently took a major leap in the technology scene as it unveiled its new computing chip, the . Also called , netizens are now highly curious about what it is and its features. Describing the chip as one of the finest processors ever, Google also mentioned that the Quantum Chip is the product of 10 years of hard work. Here is everything tech enthusiasts need to know about Willow and what are its major advantages as listed by Google. What is Google’s Williow? Willow, Google’s latest Quantum Chip, is a state-of-the-art chip that would help solve complex problems in the least time possible, which the standard computers would take years to solve. Announcing the launch of Willow, Google’s CEO Sundar Pichai took to and shared the news with the world. He wrote, “Introducing Willow, our new state-of-the-art quantum computing chip with a breakthrough that can reduce errors exponentially as we scale up using more qubits, cracking a 30-year challenge in the field.” Pichai further detailed that this Quantum chip can carry out computation within just 5 minutes which would eventually take other computers 10 septillion years to perform. Additionally, in its , Google stated that to check the performance of Willow they used the RCS (random circuit sampling) benchmark. It is the “hardest benchmark” for a quantum computer in today’s time. In the blog, the founder and lead of Google Quantum AI, Hartmut Neven stated, “Willow was fabricated in our new, state-of-the-art fabrication facility in Santa Barbara — one of only a few facilities in the world built from the ground up for this purpose.” Neven also asserted that the number of qubits used enhances the performance of the Quantum Chip. He added, “We published results showing that the more qubits we use in Willow, the more we reduce errors, and the more quantum the system becomes.” Ishita Verma is an SEO contributing writer for ComingSoon. She is passionate about delivering authentic content and holds experience in SEO content writing. Apart from her quest to ensure her content is promising, Ishita is an avid Kdrama and anime watcher. Ishita is a bibliophile and also pursues gaming as one of her favorite pastimes. Share article
Analysts' ratings for Udemy UDMY over the last quarter vary from bullish to bearish, as provided by 4 analysts. In the table below, you'll find a summary of their recent ratings, revealing the shifting sentiments over the past 30 days and comparing them to the previous months. Bullish Somewhat Bullish Indifferent Somewhat Bearish Bearish Total Ratings 1 2 0 1 0 Last 30D 0 1 0 0 0 1M Ago 0 0 0 0 0 2M Ago 1 1 0 0 0 3M Ago 0 0 0 1 0 Analysts have set 12-month price targets for Udemy, revealing an average target of $9.88, a high estimate of $11.00, and a low estimate of $7.50. Observing a downward trend, the current average is 31.05% lower than the prior average price target of $14.33. Investigating Analyst Ratings: An Elaborate Study The perception of Udemy by financial experts is analyzed through recent analyst actions. The following summary presents key analysts, their recent evaluations, and adjustments to ratings and price targets. Analyst Analyst Firm Action Taken Rating Current Price Target Prior Price Target Nat Schindler Scotiabank Announces Sector Outperform $10.00 - Brett Knoblauch Cantor Fitzgerald Lowers Overweight $11.00 $18.00 Ryan MacDonald Needham Lowers Buy $11.00 $15.00 Josh Baer Morgan Stanley Lowers Underweight $7.50 $10.00 Key Insights: Action Taken: In response to dynamic market conditions and company performance, analysts update their recommendations. Whether they 'Maintain', 'Raise', or 'Lower' their stance, it signifies their reaction to recent developments related to Udemy. This insight gives a snapshot of analysts' perspectives on the current state of the company. Rating: Offering a comprehensive view, analysts assess stocks qualitatively, spanning from 'Outperform' to 'Underperform'. These ratings convey expectations for the relative performance of Udemy compared to the broader market. Price Targets: Analysts gauge the dynamics of price targets, providing estimates for the future value of Udemy's stock. This comparison reveals trends in analysts' expectations over time. To gain a panoramic view of Udemy's market performance, explore these analyst evaluations alongside essential financial indicators. Stay informed and make judicious decisions using our Ratings Table. Stay up to date on Udemy analyst ratings. If you are interested in following small-cap stock news and performance you can start by tracking it here . All You Need to Know About Udemy Udemy Inc operates a marketplace platform at the center of a vibrant knowledge network. The Company operates under two operating and reportable segments Consumer and Enterprise, out of which the Enterprise segment derives the maximum revenue. Geographically, the company derives maximum revenue from North America. The company leverages data, technology, and insights for effective learning experiences. It helps individuals and organizations to possess effective skill acquisition and development with flexibility. Unraveling the Financial Story of Udemy Market Capitalization Analysis: Below industry benchmarks, the company's market capitalization reflects a smaller scale relative to peers. This could be attributed to factors such as growth expectations or operational capacity. Revenue Growth: Udemy displayed positive results in 3 months. As of 30 September, 2024, the company achieved a solid revenue growth rate of approximately 5.79% . This indicates a notable increase in the company's top-line earnings. In comparison to its industry peers, the company trails behind with a growth rate lower than the average among peers in the Consumer Discretionary sector. Net Margin: Udemy's net margin is below industry averages, indicating potential challenges in maintaining strong profitability. With a net margin of -12.93%, the company may face hurdles in effective cost management. Return on Equity (ROE): Udemy's ROE is below industry standards, pointing towards difficulties in efficiently utilizing equity capital. With an ROE of -11.27%, the company may encounter challenges in delivering satisfactory returns for shareholders. Return on Assets (ROA): Udemy's ROA is below industry averages, indicating potential challenges in efficiently utilizing assets. With an ROA of -3.95%, the company may face hurdles in achieving optimal financial returns. Debt Management: With a below-average debt-to-equity ratio of 0.06 , Udemy adopts a prudent financial strategy, indicating a balanced approach to debt management. The Significance of Analyst Ratings Explained Within the domain of banking and financial systems, analysts specialize in reporting for specific stocks or defined sectors. Their work involves attending company conference calls and meetings, researching company financial statements, and communicating with insiders to publish "analyst ratings" for stocks. Analysts typically assess and rate each stock once per quarter. In addition to their assessments, some analysts extend their insights by offering predictions for key metrics such as earnings, revenue, and growth estimates. This supplementary information provides further guidance for traders. It is crucial to recognize that, despite their specialization, analysts are human and can only provide forecasts based on their beliefs. Which Stocks Are Analysts Recommending Now? Benzinga Edge gives you instant access to all major analyst upgrades, downgrades, and price targets. Sort by accuracy, upside potential, and more. Click here to stay ahead of the market . This article was generated by Benzinga's automated content engine and reviewed by an editor. © 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.Fewer grandparents were living with and taking care of grandchildren, there was a decline in young children going to preschool and more people stayed put in their homes in the first part of the 2020s compared with the last part of the 2010s, according to U.S. Census Bureau data released Thursday, reflecting some of the effects of the COVID-19 pandemic . The latest figures from the most comprehensive survey of American life compare the years 2014-2018 and 2019-2023, timeframes before the COVID-19 pandemic and during the virus' spread. The American Community Survey data show how lives were changed and family relationships altered by the pandemic and other occurrences like the opioid crisis . The survey of 3.5 million households covers more than 40 topics, including ancestry, fertility, marital status, commutes, veterans status, disability and housing. The decrease in grandparents' taking care of their grandchildren is most likely because opioid-related deaths stabilized and then declined during the more recent timeframe since substance abuse is a leading reason grandparents find themselves raising grandchildren. A reduction in the number of incarcerated women also likely played a role, said Susan Kelley, a professor emerita of nursing at Georgia State University. “It's very rarely for positive reasons that grandparents find themselves in this situation. Usually, it's a tragic situation in an adult child's life — either a death, incarceration or mental health issues which correlate with substance abuse," Kelley said. "Many grandparents thrive in that role, but there are still socioeconomic and emotional burdens on the grandparents." A stronger economy in the most recent period also may be a reason the number of grandparents living with their grandchildren declined from 7.2 million to 6.8 million by making it less likely that adult children with their own children were seeking housing help from their parents, she said. The decline in the number of young children enrolled in preschool stemmed from an unwillingness to send young children to school and the closure of many schools at the height of the pandemic, according to the Census Bureau. “These data show how the COVID-19 pandemic had a significant impact on patterns of early childhood education,” the bureau said in a separate report. "Future research will show if this was the start of a long-term trend or if enrollment will bounce back to prior levels." Americans continued to get older, with the median age rising to 38.7 from 37.9 and the nation's share of senior citizens hitting 16.8% from 15.2%. The share of households with a computer jumped to almost 95% from nearly 89%, as did the share of households with a broadband connection to almost 90% from 80%. Additionally, fewer people moved and more people stayed put in the most recent time period compared with the earlier one, in many cases because of rising home values and the limited availability of homes to buy. Home values increased by 21.7% and the percentage of vacant homes dropped from 12.2% to 10.4%. The median home value jumped from $249,400 to $303,400 nationwide. In some vacation communities popular with the wealthy, the bump was even more dramatic, such as in the county that is home to Aspen, Colorado, where it went from $758,800 to $1.1 million, and in the county which is home to Martha's Vineyard in Massachusetts, where it jumped from $812,400 to $1.1 million. Follow Mike Schneider on the social platform X: @MikeSchneiderAP .
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Elon Musk's surprising connection to Love Actually has been revealed – leaving fans shocked. Thomas Brodie-Sangster , renowned for his role as Sam in the 2003 Christmas film has recently married Talulah Riley , who was previously married to Elon Musk . The romantic comedy follows intertwined love stories during the holiday season in London. Brodie-Sangster plays Sam , a 10-year-old boy who learns to drum to impress his crush, Joanna. Brodie-Sangster, now 34, has built a diverse acting career with notable performances in The Maze Runner series, Game of Throne and The Queen’s Gambit. Riley, 39, began her acting career with appearances in Agatha Christie’s Poirot and Marple, later securing a leading role in E4's Nearly Famous. Her film credits include Pride and Prejudice, St Trinian's and The Boat That Rocked. Riley's personal life drew public attention due to her marriages to Elon Musk; the couple married in 2010, divorced in 2012, remarried in 2013, and ultimately divorced again in 2016. In the summer of 2023, Thomas took to Instagram to announce his engagement to Elon's ex. Thomas shared a photo of himself and Talulah, with her seated on the boat, showing off her engagement ring while gazing out at the river, as the actor stood behind her, paddling. He captioned the post: "Happy to announce that Talulah and I are engaged. Love is all around X." Fans flocked to the comment section gushing with excitement, with one penning: "They look very cute," alongside red heart emojis. Another wrote: "CONGRATULATIONS THOMAS, IM SOOO HAPPY FOR U." A third fan, who had just discovered the link to Elon commented: "How did I not know that the kid from Love Actually was married to Elon Musk’s ex???? Am I the only one shocked by this? CUTE COUPLE THOUGH. Wishing you love and happiness!!" Thomas and Talulah had lavish wedding in 2024. Thomas looked a million miles away from his baby-faced character in the hit romcom fans know and love him for. The pair met on the set of the Disney+ show Pistol. Talulah and Thomas played on-screen lovers in the Sex Pistols miniseries on Disney+, with Talulah playing fashion designer Vivienne Westwood and Thomas playing Pistols manager Malcolm McLaren. But they didn't get into a relationship until after filming had finished. They tied the not at St George's Church in Hertfordshire, with Talulah wearing a stunning white gown, while Thomas looked suave in a blue tux. Speaking of their first date in a BBC documentary , Talulah said: "My first impressions were that he was very sweet, he seemed quite shy. He said 'may I put my hand on your knee' and I said, 'OK go on then', I thought it was quite sweet that he asked." She continued: "He said I don’t usually do this but I'd love to see you tomorrow can we meet for breakfast. So we had breakfast. And at the end of breakfast he said would you come and have lunch with me so we went for lunch. And then he said would you come for dinner." Follow Mirror Celebs on Snapchat , Instagram , Twitter , Facebook , YouTube and Threads .
Best THC Carts: Top Picks for Seasoned VapersMcRae Industries, Inc. Dividend DeclaredBRIDGEWATER — Jaden Alsberry is closing in on a remarkable career milestone in her fifth season at Bridgewater. The 6-foot-3 Strasburg alum has tallied 929 points across 89 games played with the Eagles and is 71 points shy of becoming just the 23rd player in program history to accumulate 1,000 career points. Chasing that feat is something that excited Alsberry as she returned to the Eagles for her graduate season. Yet, it’s not in the forefront of her mind as Bridgewater continues an impressive unbeaten start, sitting at 9-0 thus far. “It means a lot,” Alsberry said. “I haven’t really thought about it. I’ve just been thinking more about the team and our success.” Alsberry had all the tools to be a force on the court when she arrived at Bridgewater, but she didn’t always have the confidence to go with it. It’s been a consistent struggle throughout Alsberry’s career to get in her own head and overthink matters when on the court. Yet, with some maturity and a great support system, Alsberry has diminished those negative thoughts as the years have gone on. “Freshman year, I had little to no confidence,” Alsberry said. “Each year, it’s been something I’ve been trying to work on, especially with [BC head] coach [Stephanie] Flamini. Over the years, she’s really been trying to pour confidence into me and just make sure I don’t get in my head. ... I think this year, I’ve been harder on just, ‘You miss a shot, just get back and do better on defense.’ I think my confidence has definitely grown over the years.” Bridgewater’s Jaden Alsberry reacts to a call during a game earlier this season. Flamini has witnessed Alsberry’s stronger mentality develop firsthand. “When I get on them, she handles it better than she used to,” Flamini said. “She keeps what I expect in the forefront for everyone. Always trying to learn, always trying to do better. I think her confidence has improved. ... Jaden’s come a long way there. She’s getting close to her 1,000th point. We’re really excited about that and we want her to continue to be confident.” Having the belief and trust of the BC coaching staff has gone a long way in helping Alsberry be the player she is today. “I think having a good coaching staff that believes in you and is always making sure you are confident in yourself is definitely helpful,” Alsberry said. Bridgewater’s Jaden Alsberry goes up for a shot against Roanoke during a game last season. Between her growing relationship with the coaching staff and work behind the scenes, Flamini sees that confidence exuding from Alsberry when she’s on the court. “Give her a lot of credit,” Flamini said. “She’s been in the gym. When you’re in the gym working hard, I think your confidence automatically has to go up, because you’re prepared. You’re more prepared than others.” Alsberry’s fifth season with the Eagles is bittersweet as she knows it’s her final. Like the 1,000-point mark, Alsberry isn’t focusing on the emotions yet as she’s doing what she can to enjoy every last second of playing at Bridgewater. “It kind of feels unreal,” Alsberry said. “I don’t know. It doesn’t feel like it’s my last year. I’m sure as we get closer to the end of the season, it’ll definitely all sink in. I’m just trying to make the most of it.”
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Gamecocks place 6 on Coaches' All-SEC TeamsLAS VEGAS — If Texas coach Steve Sarkisian holds aloft the College Football Playoff trophy next month, that will be bad news for BetMGM Sportsbook. It would be similarly disappointing if any of the coaches at Boise State, Indiana or Arizona State end up celebrating a title with confetti falling all around them inside Atlanta's Mercedes-Benz Stadium. Wait, what? Texas has attracted a lot of money all season to go all the way, but those other schools provide the hope of a big payoff. The fifth-seeded Longhorns are the co-favorite at BetMGM with No. 1 and unbeaten Oregon at 7-2 odds; the other three are least 40-1, while Georgia is right behind Oregon and Texas as the next favorite. "These teams get hot and people just want to have a flyer on them," BetMGM trading manager Seamus Magee said. "They don't want to be standing there and not have a ticket on some of these long-shot teams." Expanding the playoff field from four to 12 teams this year meant more betting in general on college football and more varieties of wagering on the postseason. There were meaningful games played in the final month by not only Arizona State, Boise State and Indiana, but also SMU, Army and UNLV — a number of teams not always in the national title conversation. "It's one of the highest handles we've ever had on our national-championship market," Magee said. "We're in more states, for one, but the activity and the betting patterns we're seeing, it definitely feels a lot more than it has in years past." Magee said BetMGM has received action on both sides of the first-round game between 11th-seeded SMU and sixth-seeded Penn State, but the Mustangs have drawn notable action at DraftKings and Caesars Sportsbook. Money on SMU dropped Penn State from a 9-point favorite at DraftKings to 8 1/2. "Any time they've played a real good team, they've had trouble," Johnny Avello, DraftKings race and sports operations director, said of the Nittany Lions. "SMU shows that they're pretty good on both sides of the football and pretty resilient as a team. Always in the game. Always finds ways to fight back." Joey Feazel, who oversees football trading for Caesars, said much of the early betting in general was on underdogs. "Usually, you see the dog money for these teams come late, especially on the sharps' (professional bettors) side," Feazel said. Boise State, which as the third seed has a first-round bye, will be the underdog in its quarterfinal matchup with Penn State or SMU. The Broncos got into the field as the highest-ranked Group of Five champion, but Avello said that doesn't mean they are one of the nation's top 12 teams (they are ranked No. 8 by AP and No. 9 by CFP). Avello said BYU, Colorado and Miami — none of which made the playoff — all would be favored over them. "There are a lot of teams that aren't in the playoffs that would be favored," Avello said. "That's just not the way these playoffs work." Feazel said Boise State not being able to play at home on its blue carpet will be a notable disadvantage. Boise State's quarterfinal game will be at the Fiesta Bowl in Glendale, Arizona. "It will be all neutral," Feazel said. "It's a big step up in class for Boise." Instead of all the games being played in climate-controlled domes or warm-weather locales — as has been in the case in past postseasons — three of the four first-round matchups will take place in the Northeast and Midwest. While that might not make a difference when Notre Dame hosts in-state foe Indiana, Ohio State will be at home against Tennessee and SMU visits Penn State. BetMGM favors all four home teams by more than a touchdown. "You have to take the weather into account for some of these games," Magee said. "It's going to be really cool to see a team like Tennessee that will have to go up to Columbus, where it can get really cold. SMU has to go from Dallas to Happy Valley. That's definitely going to be one of the coldest games a lot of those kids have played in their lives." SMU was the last team in the field, getting the benefit of the doubt over Alabama. The Mustangs had one fewer defeat than the three-loss Crimson Tide, who did not appear in the SEC title game. SMU lost on a 56-yard field goal to Clemson in the ACC championship. The sportsbook operators said the Tide would be favored by 5-10 points if they met SMU on a neutral field. Get local news delivered to your inbox!