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SILICON SLOPES, Utah--(BUSINESS WIRE)--Dec 5, 2024-- Domo, Inc. (Nasdaq: DOMO) today announced results for its fiscal third quarter ended October 31, 2024. Fiscal Third Quarter Results “Our focus on ecosystem-led growth, consumption-based contracts and AI innovation is paying off with promising momentum, as we see more demand for Domo as an anchor technology in customers’ data stacks,” said Josh James, founder and CEO, Domo. “The data and AI landscape is evolving to create new market opportunities for Domo, and we feel confident we’re in the right position to capitalize on this moment.” Recent Highlights We believe the following announcements and recognition demonstrate our commitment to product innovation and customer value: Business Outlook Based on information available as of December 5, 2024, Domo is providing the following guidance for its fourth quarter of fiscal 2025 and full year fiscal 2025: Q4 Fiscal 2025 Full Year Fiscal 2025 We have not reconciled guidance for non-GAAP metrics to their most directly comparable GAAP measures because certain items that impact these measures are not within our control or cannot be reasonably predicted. Earnings Call Details Domo plans to host a conference call today to review its fiscal 2025 third quarter financial results and to discuss its financial outlook. The call is scheduled to begin at 3:00 p.m. MT/ 5:00 p.m. ET. A live webcast of the event will be available on the Domo Investor Relations website at https://www.domo.com/ir and a live dial-in is available at (877) 484-6065 or (201) 689-8846. A replay will be available at (877) 660-6853 or (201) 612-7415 with the access ID#13750075 following the completion of the conference call until 11:59 p.m. (ET) January 4, 2025. About Domo Domo puts data to work for everyone so they can multiply their impact on the business. Our cloud-native data experience platform goes beyond traditional business intelligence and analytics, making data visible and actionable with user-friendly dashboards and apps. Underpinned by AI, data science and a secure data foundation that connects with existing cloud and legacy systems, Domo helps companies optimize critical business processes at scale and in record time to spark the bold curiosity that powers exponential business results. For more information, visit www.domo.com . You can also follow Domo on LinkedIn , X and Facebook . Domo Disclosure Channels to Disseminate Information Domo investors and others should note that we announce material information to the public about our company, products and services, and other issues through a variety of means, including Domo’s website, press releases, filings with the U.S. Securities and Exchange Commission (SEC), blogs and social media, in order to achieve broad, non-exclusionary distribution of information to the public. We intend to use the Domo Facebook page , the Domo LinkedIn page , the Domo blog , the @Domotalk X account and the @JoshJames X account as a means of disclosing information about the Company and its services and for complying with the disclosure obligations under Regulation FD. The information we post through these social media channels may be deemed material. Accordingly, we encourage investors and others to monitor these social media channels in addition to following our press releases, SEC filings and public conference calls and webcasts. The social media channels that we intend to use as a means of disclosing the information described here may be updated from time to time as listed on our investor relations webpage. Use of Non-GAAP Financial Measures To supplement our condensed consolidated financial statements, which are prepared and presented in accordance with Generally Accepted Accounting Principles in the United States of America (GAAP), we reference in this press release and the accompanying tables the following non-GAAP financial measures: non-GAAP subscription gross margin, non-GAAP operating expenses, non-GAAP operating loss, non-GAAP operating margin, non-GAAP net loss, non-GAAP net loss per share, billings, and adjusted free cash flow. In computing the measures other than billings and adjusted free cash flow, we exclude the effects of stock-based compensation expense, amortization of certain intangible assets, severance of executive officers who report to the Chief Executive Officer, loss on extinguishment of debt, and remeasurement of warrant liability. Billings is defined as total revenue plus the change in deferred revenue in a period. In computing adjusted free cash flow, we exclude the effects of proceeds from shares issued in connection with the employee stock purchase plan, purchases of property and equipment, and net change in short-term payable financing. As it relates to adjusted free cash flow, we add back amounts equal to the proceeds from shares issued in connection with employee stock purchase plan to reflect the non-cash nature of these transactions. Because no cash is exchanged in these transactions, showing proceeds in the financing section of the statement of cash flows as required by GAAP results in a corresponding decrease in the operating section, which management believes is not indicative of actual cash used in or provided by our operations. We also add back the net change to short-term payable financing to adjusted free cash flow. We believe that this non-GAAP cash metric is useful because it provides investors with the same information that management uses to consistently evaluate, forecast and measure the Company’s actual cash flows and its ability to achieve and maintain positive cash flows. We use these non-GAAP financial measures for financial and operational decision-making and as a means to evaluate period-to-period comparisons. Our management believes that these non-GAAP financial measures provide meaningful supplemental information regarding our performance and liquidity by excluding certain items that may not be indicative of our ongoing core business operating results. We believe that both management and investors benefit from referring to these non-GAAP financial measures in assessing our performance and when analyzing historical performance and liquidity and planning, forecasting, and analyzing future periods. For a reconciliation of these non-GAAP financial measures to GAAP measures, please see the tables captioned "Reconciliation of Non-GAAP Financial Measures" included at the end of this release. Forward-Looking Statements This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 and the Private Securities Litigation Reform Act of 1995. These forward-looking statements include statements of our Chief Executive Officer, statements regarding competitive positions, our financial outlook for our fourth fiscal quarter, and results for future periods. Forward-looking statements are subject to risks and uncertainties and are based on potentially inaccurate assumptions that could cause actual results to differ materially from those expected or implied by the forward-looking statements. Actual results may differ materially from the results predicted, and reported results should not be considered as an indication of future performance. The potential risks and uncertainties that could cause actual results to differ from the results predicted include, among others, those risks and uncertainties included under the caption "Risk Factors" and elsewhere in our filings with the SEC, including, without limitation, the Annual Report on Form 10-K filed with the SEC on March 28, 2024 and the Quarterly Report on Form 10-Q for the quarter ended October 31, 2024 expected to be filed with the SEC on or about December 10, 2024. All information provided in this release and in the attachments is as of the date hereof, and we undertake no duty to update this information unless required by law. Domo is a registered trademark of Domo, Inc. 2023 2024 2023 2024 $ 71,293 $ 71,113 $ 213,594 $ 214,144 8,382 8,651 25,211 24,130 79,675 79,764 238,805 238,274 11,523 13,334 33,588 39,410 7,253 6,627 22,847 21,389 18,776 19,961 56,435 60,799 60,899 59,803 182,370 177,475 40,262 37,194 124,464 116,040 19,729 21,264 63,931 65,952 12,130 12,429 35,509 42,504 72,121 70,887 223,904 224,496 (11,222 ) (11,084 ) (41,534 ) (47,021 ) - (1,850 ) - (1,850 ) (4,930 ) (5,622 ) (14,549 ) (14,805 ) (4,930 ) (7,472 ) (14,549 ) (16,655 ) (16,152 ) (18,556 ) (56,083 ) (63,676 ) 261 205 801 582 $ (16,413 ) $ (18,761 ) $ (56,884 ) $ (64,258 ) $ (0.45 ) $ (0.48 ) $ (1.59 ) $ (1.68 ) 36,310 38,832 35,812 38,243 $ 670 $ 784 $ 1,958 $ 2,389 359 295 1,311 942 6,364 4,754 19,260 15,238 4,621 4,038 14,214 12,529 4,174 3,080 10,642 12,075 181 210 516 603 $ 16,369 $ 13,161 $ 47,901 $ 43,776 $ 20 $ 142 $ 60 $ 426 $ - $ - $ 443 $ - - - 1,553 - $ - $ - $ 1,996 $ - $ - $ 455 $ - $ 33 2024 2024 $ 60,939 $ 40,925 67,197 57,177 16,006 15,288 9,602 7,083 153,744 120,473 27,003 27,937 11,746 10,108 19,542 17,420 2,740 2,267 9,478 9,478 1,407 2,528 $ 225,660 $ 190,211 $ 4,313 $ 8,403 43,430 58,392 4,807 5,506 185,250 153,919 237,800 226,220 11,135 8,125 2,736 3,311 14,001 8,151 113,534 115,574 379,206 361,381 37 39 1,252,200 1,298,596 (180 ) 56 (1,405,603 ) (1,469,861 ) (153,546 ) (171,170 ) $ 225,660 $ 190,211 Domo, Inc. 2023 2024 2023 2024 $ (16,413 ) $ (18,761 ) $ (56,884 ) $ (64,258 ) 1,636 2,254 4,738 7,117 1,063 1,142 3,235 3,320 4,398 4,454 13,354 13,181 16,369 13,161 47,901 43,776 - 1,850 - 1,850 - 456 - 33 1,072 2,390 3,643 4,334 (3,022 ) (8,489 ) 23,750 10,020 (4,016 ) (4,524 ) (10,921 ) (10,328 ) 291 1,543 (173 ) 1,819 998 (11,655 ) (966 ) (152 ) (1,237 ) (1,392 ) (4,054 ) (4,000 ) (608 ) 10,238 (3,361 ) 6,073 (4,856 ) (6,368 ) (23,124 ) (30,756 ) (4,325 ) (13,701 ) (2,862 ) (17,971 ) (2,714 ) (2,515 ) (9,214 ) (7,245 ) - - (26 ) - (2,714 ) (2,515 ) (9,240 ) (7,245 ) - (402 ) - (402 ) 1,374 789 3,406 1,910 - (296 ) - (504 ) - 52,758 - 52,758 - (53,177 ) - (53,177 ) - 6,190 - 8,972 - (4,536 ) - (4,536 ) 62 - 65 - 1,436 1,326 3,471 5,021 (862 ) 111 (482 ) 181 (6,465 ) (14,779 ) (9,113 ) (20,014 ) 63,852 55,704 66,500 60,939 $ 57,387 $ 40,925 $ 57,387 $ 40,925 2023 2024 2023 2024 $ 71,293 $ 71,113 $ 213,594 $ 214,144 11,523 13,334 33,588 39,410 59,770 57,779 180,006 174,734 84 % 81 % 84 % 82 % 670 784 1,958 2,389 $ 60,440 $ 58,563 $ 181,964 $ 177,123 85 % 82 % 85 % 83 % $ 72,121 $ 70,887 $ 223,904 $ 224,496 (15,159 ) (11,872 ) (44,116 ) (39,842 ) (20 ) (142 ) (60 ) (426 ) - - (1,996 ) - $ 56,942 $ 58,873 $ 177,732 $ 184,228 $ (11,222 ) $ (11,084 ) $ (41,534 ) $ (47,021 ) 16,188 12,951 47,385 43,173 20 142 60 426 - - 1,996 - $ 4,986 $ 2,009 $ 7,907 $ (3,422 ) (14 )% (14 )% (17 )% (20 )% 20 17 19 19 - - 1 - 6 % 3 % 3 % (1 )% $ (16,413 ) $ (18,761 ) $ (56,884 ) $ (64,258 ) 16,369 13,161 47,901 43,776 20 142 60 426 - - 1,996 - - 1,850 - 1,850 - 455 - 33 $ (24 ) $ (3,153 ) $ (6,927 ) $ (18,173 ) $ (0.45 ) $ (0.48 ) $ (1.59 ) $ (1.68 ) 0.45 0.34 1.34 1.15 — — 0.06 — — 0.05 — 0.05 — 0.01 — — $ — $ (0.08 ) $ (0.19 ) $ (0.48 ) $ 79,675 $ 79,764 $ 238,805 $ 238,274 158,522 153,919 158,522 153,919 4,236 3,311 4,236 3,311 (164,882 ) (161,601 ) (182,273 ) (185,250 ) (2,732 ) (1,997 ) (3,609 ) (2,736 ) (4,856 ) (6,368 ) (23,124 ) (30,756 ) $ 74,819 $ 73,396 $ 215,681 $ 207,518 $ (4,325 ) $ (13,701 ) $ (2,862 ) $ (17,971 ) 1,374 789 3,406 1,910 (2,714 ) (2,515 ) (9,214 ) (7,245 ) - 6,190 - 8,972 - (4,536 ) - (4,536 ) $ (5,665 ) $ (13,773 ) $ (8,670 ) $ (18,870 ) View source version on businesswire.com : https://www.businesswire.com/news/home/20241205261989/en/ CONTACT: Media – Cynthia Cowen PR@domo.comInvestors – Peter Lowry IR@domo.com KEYWORD: UTAH UNITED STATES NORTH AMERICA INDUSTRY KEYWORD: PROFESSIONAL SERVICES DATA MANAGEMENT DATA ANALYTICS TECHNOLOGY SOFTWARE ARTIFICIAL INTELLIGENCE INTERNET SOURCE: Domo, Inc. Copyright Business Wire 2024. PUB: 12/05/2024 04:05 PM/DISC: 12/05/2024 04:06 PM http://www.businesswire.com/news/home/20241205261989/en
EDMONTON — Prairie premiers are urging Canada to act on American concerns over illegal cross-border traffic of people and drugs to stave off the looming threat of 25-per-cent tariffs. Alberta's Danielle Smith, Saskatchewan's Scott Moe, and Manitoba's Wab Kinew said Tuesday that Canada must better address the concerns of its largest trading partner. Incoming U.S. president Donald Trump promised Monday to impose the tariffs on his first day in office in January. He said he would keep the tariffs in place until Canada and Mexico stop illegal border crossings and prevent drugs such as fentanyl from entering the U.S. Smith told the legislature Tuesday the tariffs would be “devastating” across the board. She said she will highlight the "pressure points" that need to be addressed during a planned meeting Wednesday between premiers and Prime Minister Justin Trudeau. "I believe the new (Trump) administration has been very clear about what it is they want. They want us to meet our two-per-cent NATO commitment, and they want to stop the leaky border," she said, pointing to the illegal fentanyl trade. In a video posted to social media, Smith said Canada needs to reach its pledged commitment to spend at least two per cent of its gross domestic product on defence by 2032. "If their trade partners are looking to be free riders on American security interests, that's also going to harm the relationship," Smith said, adding, "you also have to take seriously the asylum seekers." The U.S. is Alberta’s largest trading partner, with $188 billion in bilateral trade in 2023. Last year, energy products accounted for more than 80 per cent of that trade, or about $134 billion. Smith said the vast majority of Alberta's energy exports to the U.S. are "delivered through secure and safe pipelines," which "do not in any way contribute to these illegal activities." Manitoba's premier said Tuesday the tariffs would mean a recession for his province and that Canada needs to show the new U.S. administration it's serious about border security and tackling the drug crisis. Kinew said it begins with Canada’s pledge to its NATO allies. "First and foremost, (it’s about) hitting that target of two per cent spending on defence,” said Kinew. “That gets us in the game just to be taken seriously as a security partner with the U.S. If we don't do it, it's going to become a trade problem." In Regina, Moe told reporters he understands Trump’s position on border security He proposed Trudeau look at having the Canada Border Services Agency work under the arm of the military. “I think that might be a way for us to really work collaboratively, to work together with our American people, but also ensuring that we do have a secure border,” he said. Moe added the proposed tariffs would hurt Saskatchewan’s export-based economy and drive up prices on both sides of the border. “This will have a significant impact in Canada and particularly in Saskatchewan. We export about 60 per cent of our products to the U.S. I don’t think any job, any industry would be untouched with a 25-per-cent tariff from the U.S. on all Canadian products,” he said. He said his province plans to use all levers at its disposal to stop the tariffs and will approach the U.S. directly, adding the province has a strong relationship with some in Trump’s administration. In 2023, Saskatchewan’s exports to the U.S. amounted to almost $27 billion after hitting a record high of $29 billion in 2022. Its top exports include crude oil, potash and canola. This report by The Canadian Press was first published Nov. 26, 2024. — With files from Jeremy Simes in Regina and Brittany Hobson in Winnipeg Lisa Johnson, The Canadian Press
After a thrilling double-overtime win over Fresno State, California Baptist makes the nearly 2,500-mile trip to Orlando to face Central Florida on Sunday. The Lancers (5-3) capped their time at the Acrisure Holiday Invitational in Palm Springs, Calif., with an 86-81 victory over the Bulldogs on Wednesday. That followed a last-second, 79-77 loss to SMU the day before. Dominique Daniels Jr. played 45 minutes against Fresno State and led California Baptist with 29 points. He paces the Lancers with 20.3 points per game, while Kendal Coleman averages 15.1 points and is shooting 59.7 percent form the floor. However, coach Rick Croy's team has struggled from 3-point range, shooting just 30.7 percent entering its first true road game this season. UCF (5-2) is coming off of an 84-76 win over Milwaukee last Wednesday despite being outrebounded 41-31. The Knights were helped by the heroics of senior guard Darius Johnson, who had 28 points as he shot a career-best 8-for-10 from beyond the arc. "Darius was terrific," UCF coach Johnny Dawkins said. "He's so comfortable in his leadership role now, he's leading our team and running the show, and our new players are becoming more comfortable playing with him. He's been a rock for us this season, and you love to see it out of a senior point guard." "I had an extraordinary night shooting the ball from three," Johnson said. "I rarely think that would happen again, but it's great. I know my teammates are going to have nights like that as well." Johnson is among the nation's leaders in minutes per game (36.6) and is shooting a team-high 50 percent from 3-point range (23 of 46). He, along with his fellow guard Jordan Ivy-Curry, are each averaging 16.9 points to lead UCF. The Knights opened the season with an impressive win over Texas A&M, now No. 20 in the AP poll, but lost both games at last weekend's Greenbrier Tip-Off, including a triple-overtime defeat against LSU on Sunday. UCF has not reached the NCAA Tournament since 2018-19. This will be the first meeting between the Knights and the Lancers, who will each have time off afterwards. UCF won't play until Dec. 8 against Tarleton State, while California Baptist is idle until its Dec. 11 game at San Diego State. --Field Level Media
AP Business SummaryBrief at 1:36 p.m. ESTNov 21 (Reuters) - Efforts by U.S. antitrust regulators to break up Alphabet by forcing a sale of its Google Chrome browser and other proposals to limit its search dominance are likely to run into legal challenges on grounds the remedies are extreme. After a ruling in August that Google (GOOGL.O) , opens new tab illegally monopolized the search market, U.S. Department of Justice prosecutors argued to a judge on Wednesday that the company must sell Chrome , share data and search results with rivals and possibly sell its Android smartphone software. Alphabet shares fell as much as 7%, on track for their biggest daily percentage decline since Jan. 31. The proposals are part of a landmark case aimed at reshaping how users find information. But a new pro-business administration of President-elect Donald Trump next year could change that effort and legal proceedings could last years, experts said. "It would strike me as an over-ask," said Kevin Walkush at Jensen Investment Management, which holds Google stock and is skeptical a Chrome divestiture will happen. "You ask for everything possible, not necessarily with an eye towards what would be probable and proportional, and then see what sticks." The DOJ sought and won a breakup of Microsoft (MSFT.O) , opens new tab in the early 2000s after alleging it illegally monopolized the web browser market. That ruling was overturned by an appeals court, and Microsoft and the DOJ eventually settled. Walkush expects the Google case to take years to play out as the company appeals. "The wheels of justice do not turn quickly," he said. Google called the DOJ's approach "unprecedented government overreach that would harm American consumers, developers, and small businesses," giving as examples diminished user privacy and less funding for companies such as browser maker Mozilla when they feature Google search. The case could also face challenges from Trump. While Trump's administration originally filed the search case against Google during his first term, he indicated in October he might not break up the company because it could hurt the American tech industry at a time competition is heating up with China in areas including AI. Representatives for Trump did not immediately respond to a request for comment. Chrome, the most widely used web browser, is a pillar of Google's business, providing the company with valuable user data that helps it target ads. The search ads business brought in more than half of Alphabet's total revenue of $88.3 billion in the latest quarter. The value of Chrome, estimated to hold about two-thirds of the global browser market, diminishes sharply as a standalone browser. "The reason why it's valuable to Google is because Google uses it to enhance its ad business and its search business," said Megan Gray, former general counsel at search rival DuckDuckGO who has also worked as an attorney at the Federal Trade Commission. "If you don't have those, then Chrome would just be a data broker." A forced sale would not address several key issues raised in the DOJ lawsuit, including a search monopoly, critics say. U.S. antitrust enforcers, who are also pursuing Apple (AAPL.O) , opens new tab and Amazon (AMZN.O) , opens new tab in other monopoly cases, would have to approve any potential Chrome buyer. "DOJ will face substantial headwinds with this remedy," because Chrome can run search engines other than Google, said Gus Hurwitz, senior fellow and academic director at University of Pennsylvania Carey Law School. "Courts expect any remedy to have a causal connection to the underlying antitrust concern. Divesting Chrome does absolutely nothing to address this concern." The DOJ proposed a blanket ban on Google offering incentives to give its search engine preferential treatment. That would include Google's lucrative partnership with Apple, where it pays the smartphone maker billions of dollars annually to make Google Search the default on Apple smartphones. Evercore analysts called the proposed curbs "draconian." Given Google Search's popularity, Apple is likely to continue with Google as the default search engine even without any agreement or payments, Hurwitz said. DOJ's proposals also include demands for Google to license search results at a nominal cost and share the user data it gathers with competitors for free. D.A. Davidson analyst Gil Luria said it was harder to ascertain the impact of Google having to open up its search data until the terms are clearer. The Center for Journalism & Liberty said Google licensing its search data would be "transformative" for news publishers because it would help them better understand their audiences. Sign up here. Reporting by Deborah Sophia and Akash Sriram in Bengaluru and Kenrick Cai in San Francisco; Additional reporting by Jody Godoy and Chris Sanders in Washington; Editing by Sayantani Ghosh, Aditya Soni and Rod Nickel Our Standards: The Thomson Reuters Trust Principles. , opens new tab Thomson Reuters Akash reports on technology companies in the United States, electric vehicle companies, and the space industry. His reporting usually appears in the Autos & Transportation and Technology sections. He has a postgraduate degree in Conflict, Development, and Security from the University of Leeds. Akash's interests include music, football (soccer), and Formula 1. Thomson Reuters Kenrick Cai is a correspondent for Reuters based in San Francisco. He covers Google, its parent company Alphabet and artificial intelligence. Cai joined Reuters in 2024. He previously worked at Forbes magazine, where he was a staff writer covering venture capital and startups. He received a Best in Business award from the Society for Advancing Business Editing and Writing in 2023. He is a graduate of Duke University.
Overhead at Amsoil: What are Laura Schuler’s favorite sayings?New Largest of Its Kind LED Lighting System for Mouser Electronics Remee Wire & Cable provides innovative Class 4 Fault-Managed Power and PoE cabling systems for massive Mouser Electronics LED lighting project. Sinclair Digital Services, Inc. was chosen to provide and commission all the equipment for this project, including headends, distribution enclosures, VoltServer equipment, and lighting fixtures. They specified Remee Wire & Cable's PowerPipeTM hybrid distribution cable for all data and power connectivity. Hannah Walker, Chief Operating Officer, Sinclair Digital Services, explained why Remee Wire & Cable was awarded this project. "We chose Remee to supply the quality cable we needed because they were at the forefront of Class 4 FMP technology and have been doing this longer than anyone else. In addition to providing us with a custom cable design, they helped us reduce labor costs and waste by providing a hybrid cable with fiber optic strands and copper cable pairs under one jacket, requiring only one cable pull.” The new Mouser facility features a connected Power-over-Ethernet (PoE) lighting system, with a single Remee PowerPipeTM Class 4 FMP Ethernet cable providing low voltage DC power and enabling network communication to each lighting fixture and control center. The DC power infrastructure eliminates losses associated with AC-to-DC conversion, reducing Mouser's carbon footprint while improving lighting control and lowering operational costs. While many PoE lighting systems connect to AC-powered PoE switches, Mouser's new warehouse deploys a DC powered infrastructure using Class 4 fault-managed power (FMP). This further reduces energy, material and labor costs while maintaining centralized control. Mouser's new PoE lighting system uses approximately 60% less copper and 100% less steel. Remee's PowerPipeTM hybrid cable is part of its larger line of ActivateTM Power Distribution Cables . PowerPipeTM cables meet the new UL 1400-2 standard for Class 4 FMP systems and are rated CL4P or CL4Z. ActivateTM PowerPipeTM cables are suitable for many indoor and outdoor applications, such as: Remee's new line of PowerPipeTM Cables expands the offering of their ActivateTM Powered Cable Solutions, which includes: Get more details about Activate Powered Cable Solutions , including spec sheets. Learn more about Remee Wire & Cable . About Remee Wire & Cable Remee Wire & Cable is a world class manufacturer of electronic wire and cable, both copper and fiber optic cable, as well as electrical power cables and hybrid constructions. The company is headquartered in Florida, New York, where its corporate offices, engineering and manufacturing facilities are all located. Since the company's start in 1972, personal attention and care have been the hallmarks of the family-run company. Remee's engineering and manufacturing expertise has enabled the growth of the company's product offering and custom capabilities, now at a level that rivals some of the largest cable manufacturers. The vast selection of standard cable offerings at Remee, along with expert capabilities to modify any standard cable and manufacture complex and custom-made cables, are proof of our significant industry stature. Remee features quick decision-making, special customer care and access to executives, which are strong attributes for a family-run company. Yet, Remee also offers a wide selection of cables and expert capabilities that rival the largest cable manufacturers. So, at Remee, customers enjoy our "dual personality” and the best of both worlds. For more information about Remee Wire & Cable, please visit our website or email us at [email protected] , or call 1-800-431-3864. Press Contact: Steven Bork [email protected] 847-778-6468 A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/e8937a21-87cc-4acc-b59d-ad25367068ae
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NEW YORK (AP) — Bitcoin topped $100,000 for the first time this week as a massive rally in the world's most popular cryptocurrency, largely accelerated by the election of Donald Trump, rolls on. The cryptocurrency officially to rose six figures Wednesday night, just hours after the president-elect said he intends to nominate cryptocurrency advocate Paul Atkins to be the next chair of the Securities and Exchange Commission. Bitcoin has soared since Trump won the U.S. presidential election on Nov. 5. The asset climbed from $69,374 on Election Day, hitting as high as $103,713 Wednesday, according to CoinDesk. And the latest all-time high arrives just two years after bitcoin dropped below $17,000 following the collapse of crypto exchange FTX . Bitcoin fell back below the $100,000 by Thursday afternoon, sitting just above $99,000 by 3 p.m. ET. Even amid a massive rally that has more than doubled the value of bitcoin this year, some experts continue to warn of investment risks around the asset, which has quite a volatile history. Here’s what you need to know. Back up. What is cryptocurrency again? Cryptocurrency has been around for a while now. But chances are you’ve heard about it more and more over the last few years. In basic terms, cryptocurrency is digital money. This kind of currency is designed to work through an online network without a central authority — meaning it’s typically not backed by any government or banking institution — and transactions get recorded with technology called a blockchain. Bitcoin is the largest and oldest cryptocurrency, although other assets like ethereum, XRP, tether and dogecoin have also gained popularity over the years. Some investors see cryptocurrency as a “digital alternative” to traditional money, but most daily financial transactions are still conducted using fiat currencies such as the dollar. Also, bitcoin can be very volatile, with its price reliant on larger market conditions. Why is bitcoin soaring? A lot of the recent action has to do with the outcome of the U.S. presidential election. Trump, who was once a crypto skeptic, has pledged to make the U.S. “the crypto capital of the planet” and create a “strategic reserve” of bitcoin. His campaign accepted donations in cryptocurrency and he courted fans at a bitcoin conference in July. He also launched World Liberty Financial, a new venture with family members to trade cryptocurrencies. On Thursday morning, hours after bitcoin surpassed the $100,000 mark, Trump congratulated “BITCOINERS” on his social media platform Truth Social. He also appeared to take credit for the recent rally, writing, “YOU’RE WELCOME!!!” Top crypto players welcomed Trump’s election victory last month, in hopes that he would be able to push through legislative and regulatory changes that they’ve long lobbied for — which, generally speaking, aim for an increased sense of legitimacy without too much red tape. And the industry has made sizeable investments along the way. Back in August, Public Citizen, a left-leaning consumer rights advocacy nonprofit, reported finding that crypto-sector corporations spent more than $119 million in 2024 to back pro-crypto candidates across federal elections. Trump made his latest pro-crypto move when he announced his plans Wednesday to nominate Atkins to chair the SEC. Atkins was an SEC commissioner during the presidency of George W. Bush. In the years since leaving the agency, Atkins has made the case against too much market regulation. He joined the Token Alliance, a cryptocurrency advocacy organization, in 2017. Under current chair Gary Gensler, who will step down when Trump takes office, the SEC has cracked down on the crypto industry — penalizing a number of companies for violating securities laws. Gensler has also faced ample criticism from industry players in the process. One crypto-friendly move the SEC did make under Gensler was the approval in January of spot bitcoin ETFs, or exchange trade funds, which allow investors to have a stake in bitcoin without directly buying it. The spot ETFs were the dominant driver of bitcoin's price before Trump's win — but, like much of the crypto’s recent momentum, saw record inflows postelection. What does bitcoin hitting the $100k mark mean? Could it keep climbing? Bitcoin surpassing the coveted $100,000 mark has left much of the crypto world buzzing. “What we’re seeing isn’t just a rally — it’s a fundamental transformation of bitcoin’s place in the financial system,” Nathan McCauley, CEO and co-founder of crypto custodian Anchorage Digital, said in a statement — while pointing to the growth of who's entering the market, particularly with rising institutional adoption. Still, others note that the new heights of bitcoin's price don't necessarily mean the asset is going mainstream. The $100,000 level is “merely a psychological factor and ultimately just a number,” Dan Coatsworth, investment analyst at British investment company AJ Bell, wrote in a Thursday commentary . That being said, bitcoin could keep climbing to more and more all-time highs, particularly if Trump makes good on his promises for more crypto-friendly regulation once in office. If Trump actually makes a bitcoin reserve, for example, supply changes could also propel the price forward. “It is hard to overstate the magnitude of the change in Washington’s attitude towards crypto post-election,” Matt Hougan, chief investment officer at Bitwise Asset Management, said via email Thursday, reiterating that prices could keep rising if trends persist. “There is a lot more demand than there is supply, and that’s usually a pretty good recipe for success.” Still, as with everything in the volatile cryptoverse, the future is never promised. Worldwide regulatory uncertainties and environmental concerns around bitcoin “mining" — the creation of new bitcoin, which consumes a lot of energy — are among factors that analysts like Coatsworth note could hamper future growth. And, as still a relatively young asset with a history of volatility, longer-term adoption has yet to be seen through. Is it too late to invest? What are the risks? Today’s excitement around bitcoin may make many who aren’t already in the space want to get in on the action. For those in a position to invest, Hougan says it's not too late — noting that bitcoin is still early in its development and most institutional investors “still have zero exposure.” At the same time, Hougan and others maintain that it's important to tread cautiously and not bite off more than you can chew. Experts continue to stress caution around getting carried away with crypto “FOMO,” or the fear of missing out, especially for small-pocketed investors. “A lot of people have got rich from the cryptocurrency soaring in value this year, but this high-risk asset isn’t suitable for everyone,” Coatsworth noted Thursday. “It’s volatile, unpredictable and is driven by speculation, none of which makes for a sleep-at-night investment.” In short, history shows you can lose money in crypto as quickly as you’ve made it. Long-term price behavior relies on larger market conditions. Trading continues at all hours, every day. Coatsworth points to recent research from the Bank for International Settlements, a Switzerland-based global organization of central banks, which found that about three-quarters of retail buyers on crypto exchange apps likely lost money on their bitcoin investments between 2015 and 2022. At the start of the COVID-19 pandemic, bitcoin stood at just over $5,000. Its price climbed to nearly $69,000 by November 2021, during high demand for technology assets, but later crashed during an aggressive series of rate hikes by the Federal Reserve. And the late-2022 collapse of FTX significantly undermined confidence in crypto overall, with bitcoin falling below $17,000. Investors began returning in large numbers as inflation started to cool — and gains skyrocketed on the anticipation and then early success of spot ETFs, and again, now the post-election frenzy. But lighter regulation from the coming Trump administration could also mean less guardrails. This story has been corrected to refer to Anchorage Digital as a crypto custodian, not a crypto asset manager.Former ESPN star Adrian Wojnarowski eyed by Harris campaign to announce Tim Walz VP pick: report
FORT MYERS, Fla. (AP) — MiLaysia Fulwiley’s 14 points led seven players in double figures as fourth-ranked South Carolina overwhelmed Purdue 99-51 in the Women’s Fort Myers Tip-Off on Saturday. Ashlyn Watkins and Tessa Johnson added 13 points, Chloe Kitts and Bree Hall had 12, Joyce Edwards 11 and Maddy McDaniel 10 for the Gamecocks (7-1). Purdue’s Destini Lombard led all scorers with 24 points. At one point, Purdue (4-3) and South Carolina (7-1) were tied 10-10. But coming out of a timeout, the Gamecocks went on a 13-2 run. South Carolina kept extending the lead. The Gamecocks led 53-18 at halftime and 78-31 after three quarters. No. 10 MARYLAND 66, GEORGE MASON 56 ANNAPOLIS, Md. (AP) — Kaylene Smikle scored 16 points and made a couple key baskets down the stretch to help No. 10 Maryland hold off George Mason in a matchup of unbeatens at the Navy Classic. The Terrapins (7-0) led by just two when Smikle stole the ball and made a layup while being fouled. The free throw pushed the lead to 58-53. Then a putback by Smikle put Maryland up by seven. The Terps won despite shooting 13 of 26 on free throws. George Mason (6-1) trailed by 10 at halftime before outscoring Maryland 18-7 in the third quarter. The Patriots’ final lead was 49-48 in the fourth after a jumper by Kennedy Harris. Harris led George Mason with 26 points. Maryland is off to its best start since winning its first 12 games in 2018-19. No. 15 IOWA ST. 75, MIDDLE TENNESSEE 59 FORT MEYERS, Fla. (AP) — Audi Crooks scored 21 points and No. 15 Iowa State rebounded from a 40-point loss to South Carolina with a win over Middle Tennessee in the Fort Meyers Women’s Tip-Off. The Cyclones closed the first half on a 10-2 run to lead 41-33. Mackenzie Hare had a steal she turned into a three-point play and Addy Brown had a buzzer-beating 3-pointer. Brown finished with 12 points and eight rebounds for the Cyclones (6-2), who shot 55% from the field with eight 3-pointers. Ta’Mia Scott scored 24 points, 17 in the second half, for the Blue Racers (6-2). Anastasiia Boldyreva and Jalynn Gregory both added 14. The Blue Racers shot 28% in the first half and finished at 31.5%. No. 18 MISSISSIPPI 89, ALABAMA ST. 24 OXFORD, Miss. (AP) — Sira Thienou scored 16 points with six rebounds, five assists and four steals and No. 18 Mississippi coasted to an win over Alabama State. Starr Jacobs and Christeen Iwuala both added 12 points and Kennedy Todd-Williams had 11 for the Rebels (5-2), who had a breather after losing to No. 2 UConn by 13 in the Bahamas. Kaitlyn Bryant had seven points to lead the Hornets (2-5), who shot 19% with 33 turnovers and were outrebounded 43-25. Alabama State was 1 of 8 with 11 turnovers in the first quarter, falling behind 24-4. The Hornets were 2 of 11 with seven giveaways in the second quarter when they were outscored 33-6 to trail 57-10 at the half. No. 24 LOUISVILLE 79, COLORADO 71 BOULDER, Colo. (AP) — Nyla Harris had 14 points and Jayda Curry scored 10 of her 14 points in the fourth quarter to help No. 24 Louisville get past Colorado. The Cardinals led 56-55 after three quarters before pulling away in the fourth by scoring 16 unanswered points, capped by a fast-break layup by Curry, before Colorado made its first field goal of the frame with 2:48 left. Colorado scored the next six points to get within single digits at 72-63, but freshman Tajianna Roberts banked in a jumper in the lane at the other end. Izela Arenas sealed it on two free throws with 24.9 seconds left for a nine-point lead. Roberts finished with 13 and Arenas had 11 for Louisville (5-2).Worthington beats Albert Lea 66-53 to win first game
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