Charles Schwab Investment Management Inc. increased its position in shares of Range Resources Co. ( NYSE:RRC – Free Report ) by 4.8% in the third quarter, Holdings Channel.com reports. The firm owned 2,017,704 shares of the oil and gas exploration company’s stock after purchasing an additional 92,217 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Range Resources were worth $62,065,000 at the end of the most recent quarter. A number of other institutional investors and hedge funds have also recently modified their holdings of RRC. Blue Trust Inc. increased its stake in Range Resources by 107.8% in the 3rd quarter. Blue Trust Inc. now owns 1,359 shares of the oil and gas exploration company’s stock worth $46,000 after buying an additional 705 shares during the period. Bogart Wealth LLC bought a new position in Range Resources in the third quarter worth approximately $49,000. Fifth Third Bancorp increased its holdings in Range Resources by 21.2% during the 2nd quarter. Fifth Third Bancorp now owns 1,709 shares of the oil and gas exploration company’s stock worth $57,000 after purchasing an additional 299 shares during the period. Perkins Coie Trust Co purchased a new position in shares of Range Resources during the second quarter valued at $67,000. Finally, International Assets Investment Management LLC bought a new stake in shares of Range Resources in the second quarter valued at about $67,000. 98.93% of the stock is owned by institutional investors. Insider Activity In other news, VP Ashley Kavanaugh sold 12,700 shares of the firm’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $31.45, for a total transaction of $399,415.00. Following the sale, the vice president now owns 9,670 shares of the company’s stock, valued at approximately $304,121.50. This trade represents a 56.77 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website . Also, Director Charles G. Griffie bought 1,275 shares of the firm’s stock in a transaction that occurred on Thursday, October 24th. The shares were acquired at an average price of $31.46 per share, with a total value of $40,111.50. Following the purchase, the director now owns 5,921 shares of the company’s stock, valued at $186,274.66. The trade was a 27.44 % increase in their ownership of the stock. The disclosure for this purchase can be found here . Company insiders own 1.57% of the company’s stock. Wall Street Analyst Weigh In View Our Latest Analysis on Range Resources Range Resources Price Performance Shares of RRC opened at $35.74 on Friday. The company has a market cap of $8.62 billion, a P/E ratio of 18.05 and a beta of 1.80. Range Resources Co. has a fifty-two week low of $27.29 and a fifty-two week high of $39.33. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 0.28. The firm’s 50 day moving average price is $32.08 and its 200 day moving average price is $32.57. Range Resources ( NYSE:RRC – Get Free Report ) last posted its quarterly earnings data on Tuesday, October 22nd. The oil and gas exploration company reported $0.48 earnings per share for the quarter, topping analysts’ consensus estimates of $0.32 by $0.16. The business had revenue of $615.03 million for the quarter, compared to analyst estimates of $617.90 million. Range Resources had a return on equity of 13.69% and a net margin of 17.63%. The company’s revenue was up .9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.43 earnings per share. On average, research analysts forecast that Range Resources Co. will post 1.9 earnings per share for the current fiscal year. Range Resources Dividend Announcement The business also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, December 13th will be given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.90%. Range Resources’s dividend payout ratio is currently 16.16%. About Range Resources ( Free Report ) Range Resources Corporation operates as an independent natural gas, natural gas liquids (NGLs), crude oil, and condensate company in the United States. The company engages in the exploration, development, and acquisition of natural gas and crude oil properties located in the Appalachian region. It sells natural gas to utilities, marketing and midstream companies, and industrial users; NGLs to petrochemical end users, marketers/traders, and natural gas processors; and oil and condensate to crude oil processors, transporters, and refining and marketing companies. See Also Want to see what other hedge funds are holding RRC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Range Resources Co. ( NYSE:RRC – Free Report ). Receive News & Ratings for Range Resources Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Range Resources and related companies with MarketBeat.com's FREE daily email newsletter .As TikTok bill steams forward, online influencers put on their lobbying hats to visit Washington WASHINGTON (AP) — Lawmakers, meet your latest lobbyists: online influencers from TikTok. Haleluya Hadero, The Associated Press Dec 23, 2024 2:52 PM Dec 23, 2024 3:20 PM Share by Email Share on Facebook Share on X Share on LinkedIn Print Share via Text Message WASHINGTON (AP) — Lawmakers, meet your latest lobbyists: online influencers from TikTok. The platform is once again bringing influencers to Washington, this time to lobby members of Congress to reject a fast-moving bill that would force TikTok's Beijing-based parent company to sell or be banned in the United States. On Tuesday, some influencers began a two-day advocacy event in support of TikTok, which arranged their trip ahead of a House floor vote on the legislation on Wednesday. But unlike a similar lobbying event the company put together last March when talks of a TikTok ban reached a fever pitch, this year’s effort appeared more rushed as the company scrambles to counter the legislation, which advanced rapidly on Capitol Hill. Summer Lucille, a TikTok content creator with 1.4 million followers who is visiting Washington this week, said if TikTok is banned, she “don’t know what it will do” to her business, a plus-sized boutique in Charlotte, North Carolina. “It will be devastating,” Lucille said in an interview arranged by the platform. The legislation is drawing unusual support in Congress In an unusual showing of bipartisanship, a House panel unanimously approved the measure last week. President Joe Biden has said he will sign the legislation if lawmakers pass it. But it’s unclear what will happen in the Senate, where several bills aimed at banning TikTok have stalled. The legislation faces other roadblocks. Former president and current presidential candidate Donald Trump, who holds sway over both House and Senate Republicans, has voiced opposition to the bill, saying it would empower Meta-owned Facebook, which he continues to lambast over his 2020 election loss. The bill also faces pushback from some progressive lawmakers in the House as well as civil liberties groups who argue it infringes on the First Amendment. TikTok could be banned if ByteDance, the parent company, doesn’t sell its stakes in the platform and other applications it owns within six months of the bill’s enactment. The fight over the platform takes place as U.S.-China relations have shifted to that of strategic rivalry, especially in areas such as advanced technologies and data security, seen as essential to each country’s economic prowess and national security. The shift, which started during the Trump years and has continued under Biden, has placed restrictions on export of advanced technologies and outflow of U.S. monies to China, as well as access to the U.S. market by certain Chinese businesses. The Biden administration also has cited human rights concerns in blacklisting a number of Chinese companies accused of assisting the state surveillance campaign against ethnic minorities. TikTok isn’t short on lobbyists. Its Beijing-based parent company ByteDance has a strong lobbying apparatus in Washington that includes dozens of lobbyists from well-known consulting and legal firms as well as influential insiders, such as former members of Congress and ex-aides to powerful lawmakers, according to the Foundation for Defense of Democracies. TikTok CEO Shou Zi Chew will also be in Washington this week and plans to meet with lawmakers, according to a company spokesperson who said Chew’s visit was previously scheduled. Influencers descend on Washington But influencers, who have big followings on social media and can share personal stories of how the platform boosted their businesses — or simply gave them a voice — are still perhaps one of the most powerful tools the company has in its arsenal. A TikTok spokesperson said dozens of influencers will attend the two-day event, including some who came last year. The spokesperson did not immediately respond to questions about how many new people would be attending this year’s lobbying blitz. The company is briefing them ahead of meetings with their representatives and media interviews. Lucille, who runs the boutique in North Carolina, says has seen a substantial surge in revenue because of her TikTok page. The 34-year-old began making TikTok content focusing on plus-sized fashion in March 2022, more than a decade after she started her business. She quickly amassed thousands of followers after posting a nine-second video about her boutique. Because of her popularity on the platform, her business has more online exposure and customers, some of whom have visited from as far as Europe. She says she also routinely hears from followers who are finding support through her content about fashion and confidence. JT Laybourne, an influencer who also came to Washington, said he joined TikTok in early 2019 after getting some negative comments on videos he posted on Instagram while singing in the car with his children. Laybourne, who lives in Salt Lake City, Utah, said he was attracted to the short-form video platform because it was easy to create videos that contained music. Like Lucille, he quickly gained traction on the app. He says he also received more support from TikTok users, who reacted positively to content he produced on love and positivity. Laybourne says the community he built on the platform rallied around his family when he had to undergo heart surgery in 2020. Following the surgery, he said he used the platform to help raise $1 million for the American Heart Association in less than two years. His family now run an apparel company that gets most of its traffic from TikTok. “I will fight tooth-and-nail for this app,” he said. But whether the opposition the company is mounting through lobbyists or influencers will be enough to derail the bill is yet to be seen. On Tuesday, House lawmakers received a briefing on national security concerns regarding TikTok from the FBI, Justice Department and intelligence officials. ____ AP Journalist Didi Tang contributed to this report. ___ This story was originally published on March 12, 2024. It was updated on December 23, 2024 to clarify a quote by TikTok content creator Summer Lucille. Haleluya Hadero, The Associated Press See a typo/mistake? Have a story/tip? This has been shared 0 times 0 Shares Share by Email Share on Facebook Share on X Share on LinkedIn Print Share via Text Message More Entertainment News Clarification: TikTok-Bill-Lobbying story Dec 23, 2024 2:49 PM Elaborate holiday light displays are making spirits bright in a big way Dec 23, 2024 2:34 PM Burt, the huge Australian crocodile who had a cameo in ‘Crocodile Dundee,’ dies at 90 Dec 23, 2024 2:00 PM Featured Flyer
Sir Keir Starmer has wished for peace in the Middle East at Christmas as he said he was hoping for a “better, brighter future for every person” in his festive message. The prime minister said he knew Christmas was “not an easy time for everyone” and extended his thoughts to “all those who are lonely this Christmas”. Starmer will spend Christmas at Chequers, his official country residence, before going abroad “for a few days” over new year. The holiday will be his first since taking office after his planned summer trip had to be cancelled because of riots following the Southport stabbings . He said: “Having a tough time, missing a loved one, you are not alone, because as Christians celebrate the birth of Jesus Christ, the Christmas story reminds all of us to reach out to one another. To care for one another and to look after those around us.”The Fine Gael leader was asked about the controversy in the first question posed during the second and final TV leaders’ debate of Ireland’s General Election campaign. Mr Harris apologised over the weekend for his handling of the discussion with Charlotte Fallon while canvassing in Kanturk in Co Cork on Friday evening. The Taoiseach was accused of dismissing concerns that Ms Fallon raised about Government support for the disability sector during the exchange filmed by RTE in a supermarket. Mr Harris rang Ms Fallon on Saturday and said he unreservedly apologised for the way he treated her, however focus has since shifted to Fine Gael’s interactions with the national broadcaster about the social media video. At the outset of Tuesday’s TV debate, co-host Miriam O’Callaghan directly asked the Fine Gael leader whether a member of his party contacted RTE to ask for the clip to be taken down. “I have no knowledge of that whatsoever, because this clip was entirely appropriate,” said Mr Harris. “It was a very important moment on the campaign. “And RTE and indeed many media outlets have been with me throughout the campaign, covering many interactions that I’ve had with many, many people right across this country.” The Taoiseach said the approach by his team member was part of the “normal contact that happens between party politics and broadcasters on a daily basis”. Mr Harris’s partner-in-government in the last coalition, Fianna Fail leader Micheal Martin, said he was not aware of the approach to RTE by Fine Gael. “I didn’t realise this had happened,” he said. “I think Simon has given his explanation to it. I’m not sure it’s as normal or as usual. I just get on with it every day. But, again, I think, you know, I’m not au fait with the details behind all of this, or the background to it. “The video didn’t come down, and it was seen by many, many people. “And I think it illustrates that out there, there are a lot of people suffering in our society. “Notwithstanding the progress we’ve made as a country, a lot of people are facing a lot of individual challenges, and our job as public representatives and as leaders in travelling the country is to listen to people, hear their cases, to understand the challenges that they are going through in their lives. “And when we go about in election campaigns, we have to open up ourselves to criticism and to people calling us to account.” Sinn Fein leader Mary Lou McDonald had earlier in the day described reports of the Fine Gael approach to RTE as “chilling”. However, at the start of the debate, she was asked about a media-focused issue related to her own party, namely the controversial manifesto proposal for an independent expert review of RTE’s objectivity in its coverage of the war in Gaza and other international conflicts. Mr Harris previously branded the proposal a “dog whistle to conspiracy theorists” while Mr Martin said it was a “dangerous departure”. Ms McDonald defended the idea during the RTE Prime Time debate on Tuesday. “Politics and politicians should not try to influence editorial decisions or try and have clips taken down because they are inconvenient to them,” she said. “There has to be distance, there has to be objectivity. But I would say I am struck by the very defensive reaction from some to this (the review proposal). “The BBC, for example, a peer review looked at their coverage on migration. Politicians didn’t put their hands on it, and rightly so. “I think in a world where we have to rely on quality information, especially from the national broadcaster, which is in receipt of very substantial public funding, that has to be the gold standard of reliability. I think peer reviews like that are healthy.”
WASHINGTON (AP) — Lawmakers, meet your latest lobbyists: online influencers from TikTok. The platform is once again bringing influencers to Washington, this time to lobby members of Congress to reject a fast-moving bill that would force TikTok's Beijing-based parent company to sell or be banned in the United States. On Tuesday, some influencers began a two-day advocacy event in support of TikTok, which arranged their trip ahead of a House floor vote on the legislation on Wednesday. But unlike a similar lobbying event the company put together last March when talks of a TikTok ban reached a fever pitch, this year’s effort appeared more rushed as the company scrambles to counter the legislation, which advanced rapidly on Capitol Hill. Summer Lucille, a TikTok content creator with 1.4 million followers who is visiting Washington this week, said if TikTok is banned, she “don’t know what it will do” to her business, a plus-sized boutique in Charlotte, North Carolina. “It will be devastating,” Lucille said in an interview arranged by the platform. In an unusual showing of bipartisanship, a House panel unanimously approved the measure last week. President Joe Biden has said he will sign the legislation if lawmakers pass it. But it’s unclear what will happen in the Senate, where several bills aimed at banning TikTok have stalled. The legislation faces other roadblocks. Former president and current presidential candidate Donald Trump, who holds sway over both House and Senate Republicans, has voiced opposition to the bill, saying it would empower Meta-owned Facebook, which he continues to lambast over his 2020 election loss. The bill also faces pushback from some progressive lawmakers in the House as well as civil liberties groups who argue it infringes on the First Amendment. TikTok could be banned if ByteDance, the parent company, doesn’t sell its stakes in the platform and other applications it owns within six months of the bill’s enactment. The fight over the platform takes place as U.S.-China relations have shifted to that of strategic rivalry, especially in areas such as advanced technologies and data security, seen as essential to each country’s economic prowess and national security. The shift, which started during the Trump years and has continued under Biden, has placed restrictions on export of advanced technologies and outflow of U.S. monies to China, as well as access to the U.S. market by certain Chinese businesses. The Biden administration also has cited human rights concerns in blacklisting a number of Chinese companies accused of assisting the state surveillance campaign against ethnic minorities. TikTok isn’t short on lobbyists. Its Beijing-based parent company ByteDance has a strong lobbying apparatus in Washington that includes dozens of lobbyists from well-known consulting and legal firms as well as influential insiders, such as former members of Congress and ex-aides to powerful lawmakers, according to the Foundation for Defense of Democracies. TikTok CEO Shou Zi Chew will also be in Washington this week and plans to meet with lawmakers, according to a company spokesperson who said Chew’s visit was previously scheduled. But influencers, who have big followings on social media and can share personal stories of how the platform boosted their businesses — or simply gave them a voice — are still perhaps one of the most powerful tools the company has in its arsenal. A TikTok spokesperson said dozens of influencers will attend the two-day event, including some who came last year. The spokesperson did not immediately respond to questions about how many new people would be attending this year’s lobbying blitz. The company is briefing them ahead of meetings with their representatives and media interviews. Lucille, who runs the boutique in North Carolina, says has seen a substantial surge in revenue because of her TikTok page. The 34-year-old began making TikTok content focusing on plus-sized fashion in March 2022, more than a decade after she started her business. She quickly amassed thousands of followers after posting a nine-second video about her boutique. Because of her popularity on the platform, her business has more online exposure and customers, some of whom have visited from as far as Europe. She says she also routinely hears from followers who are finding support through her content about fashion and confidence. JT Laybourne, an influencer who also came to Washington, said he joined TikTok in early 2019 after getting some negative comments on videos he posted on Instagram while singing in the car with his children. Laybourne, who lives in Salt Lake City, Utah, said he was attracted to the short-form video platform because it was easy to create videos that contained music. Like Lucille, he quickly gained traction on the app. He says he also received more support from TikTok users, who reacted positively to content he produced on love and positivity. Laybourne says the community he built on the platform rallied around his family when he had to undergo heart surgery in 2020. Following the surgery, he said he used the platform to help raise $1 million for the American Heart Association in less than two years. His family now run an apparel company that gets most of its traffic from TikTok. “I will fight tooth-and-nail for this app,” he said. But whether the opposition the company is mounting through lobbyists or influencers will be enough to derail the bill is yet to be seen. On Tuesday, House lawmakers received a briefing on national security concerns regarding TikTok from the FBI, Justice Department and intelligence officials. AP Journalist Didi Tang contributed to this report. This story was originally published on March 12, 2024. It was updated on December 23, 2024 to clarify a quote by TikTok content creator Summer Lucille.
Transportation and hybrid virtual health are among the top needs for rural medical patients in B.C, according to a recent rural healthcare event. On Nov. 20 and 27, the Rural Coordination Center of BC hosted its Rural Voices event engaging with over 500 diverse community members from local physicians to every day residents. Conversations focused on ways to improve rural health. "What really stood out is the resilience and positivity and willingness of communities to take action on these issues themselves," said Alice Muirhead, RCcbc's director of outreach and engagement. Transportation solutions mentioned by participants included volunteer-based transportation connecting multiple communities, mobile health vans, and helicopter services. Attendees brought up sometimes overlooked details such as much-needed but non-urgent care access, and the need for financial assistance following treatment. "A person might have funding to transport them to urgent acute care, but sometimes it's not covered for them to return to their community," Muirhead said. Participants discussed enhancing virtual care options such as online or Telehealth appointments, as well as accessible online records. "This is the idea that maybe you see a doctor or nurse practitioner or a nurse in your community face to face on their schedule, but you also have access to that person virtually, so you build a relationship in person, and you're building trust with the same person over time, but you're able to access them more frequently because of those virtual modes of care." In terms of enhancing such remote-based care, participants spoke of data systems that can communicate with one another, such as a centralized system for all healthcare providers. "There's a lot of challenges to sharing patient information between health authorities, between clinics, between levels of care," Muirhead added. "So, a lot of people talked about the need for improved technology solutions to share information in a way that's still private, confidential and safe, but that enables better care." Additionally, many highlighted a desire for collaboration and empowered patients. "These are really big, complex systems, and change takes time. So, I think there is a lot of positive momentum. There's a lot of people trying to do things in different, more positive ways. It just takes a lot of time." Canada is large with many communities outside of city centres. Muirhead compared rural health access to other community and infrastructure needs and access. "There isn't sort of a big box store down the road where they can buy everything they need. They're used to sort of making do with what they have. And I think the same is true for health and wellness. RCCbc will be releasing summaries of Rural Voices, aiming to share gathered ideas with the Ministry of Health, health authorities, and organizations across the province.Urban Outfitters ( NASDAQ:URBN – Free Report ) had its target price boosted by Morgan Stanley from $38.00 to $41.00 in a research report released on Wednesday, Benzinga reports. Morgan Stanley currently has an equal weight rating on the apparel retailer’s stock. A number of other equities research analysts have also recently weighed in on the company. Bank of America upped their price target on Urban Outfitters from $46.00 to $53.00 and gave the stock a “buy” rating in a report on Wednesday. Citigroup upgraded Urban Outfitters from a “neutral” rating to a “buy” rating and raised their price target for the company from $42.00 to $59.00 in a research report on Wednesday. Robert W. Baird upped their price target on shares of Urban Outfitters from $47.00 to $49.00 and gave the company a “neutral” rating in a report on Wednesday. Telsey Advisory Group lifted their price objective on Urban Outfitters from $44.00 to $46.00 and gave the stock a “market perform” rating in a research report on Wednesday. Finally, Jefferies Financial Group reduced their price objective on Urban Outfitters from $35.00 to $34.00 and set an “underperform” rating on the stock in a research report on Thursday, August 22nd. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $46.27. Read Our Latest Research Report on Urban Outfitters Urban Outfitters Stock Performance Urban Outfitters ( NASDAQ:URBN – Get Free Report ) last issued its earnings results on Tuesday, November 26th. The apparel retailer reported $1.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.82 by $0.28. The business had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.34 billion. Urban Outfitters had a return on equity of 15.86% and a net margin of 6.11%. The company’s revenue for the quarter was up 6.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.88 EPS. Equities analysts forecast that Urban Outfitters will post 3.79 earnings per share for the current fiscal year. Insider Transactions at Urban Outfitters In other news, CEO Tricia D. Smith sold 11,730 shares of the business’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $35.29, for a total transaction of $413,951.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link . Insiders own 31.80% of the company’s stock. Institutional Inflows and Outflows A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. State Street Corp increased its stake in Urban Outfitters by 1.1% during the third quarter. State Street Corp now owns 2,799,366 shares of the apparel retailer’s stock worth $107,244,000 after acquiring an additional 31,100 shares during the last quarter. Marshall Wace LLP increased its position in Urban Outfitters by 116.3% during the 2nd quarter. Marshall Wace LLP now owns 2,288,817 shares of the apparel retailer’s stock worth $93,956,000 after purchasing an additional 1,230,771 shares in the last quarter. Fisher Asset Management LLC raised its holdings in Urban Outfitters by 3.1% in the third quarter. Fisher Asset Management LLC now owns 2,073,416 shares of the apparel retailer’s stock valued at $79,433,000 after buying an additional 62,019 shares during the period. American Century Companies Inc. lifted its position in Urban Outfitters by 20.5% during the second quarter. American Century Companies Inc. now owns 1,555,067 shares of the apparel retailer’s stock valued at $63,836,000 after buying an additional 264,708 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in Urban Outfitters by 1.2% during the third quarter. Geode Capital Management LLC now owns 1,481,469 shares of the apparel retailer’s stock valued at $56,765,000 after buying an additional 18,249 shares in the last quarter. Institutional investors and hedge funds own 77.61% of the company’s stock. About Urban Outfitters ( Get Free Report ) Urban Outfitters, Inc engages in the retail and wholesale of general consumer products. The company operates through three segments: Retail, Wholesale, and Nuuly. It operates Urban Outfitters stores, which offer women's and men's fashion apparel, activewear, intimates, footwear, accessories, home goods, electronics, and beauty products for young adults aged 18 to 28; and Anthropologie stores that provide women's apparel, accessories, intimates, shoes, and home furnishings, as well as gifts, decorative items, and beauty and wellness products for women aged 28 to 45. Featured Articles Receive News & Ratings for Urban Outfitters Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Urban Outfitters and related companies with MarketBeat.com's FREE daily email newsletter .Islanders end three-game losing streak as Ilya Sorokin earns shutout, Simon Holmstrom nets pair
NEW YORK (AP) — U.S. stocks climbed Thursday after market superstar Nvidia and another round of companies said they’re making even fatter profits than expected. The S&P 500 pulled 0.5% higher after flipping between gains and losses several times during the day. Banks, smaller companies and other areas of the stock market that tend to do best when the economy is strong helped lead the way, while bitcoin briefly broke above $99,000. Crude oil, meanwhile, continued to rise. The Dow Jones Industrial Average jumped 461 points, or 1.1%, and the Nasdaq composite edged up by less than 0.1%. Nvidia rose just 0.5% after beating analysts’ estimates for profit and revenue yet again, but it was still the strongest force pulling the S&P 500 upward. It also gave a forecast for revenue in the current quarter that topped most analysts’ expectations due to voracious demand for its chips used in artificial-intelligence technology. Its stock initially sank in afterhours trading Wednesday following the release of the results. Some investors said the market might have been looking for Nvidia’s revenue forecast to surpass expectations by even more. But its stock recovered in premarket trading Thursday, and Wedbush analyst Dan Ives said it was another “flawless” profit report provided by Nvidia and CEO Jensen Huang, whom Ives calls “the Godfather of AI.” The stock meandered through Thursday as well, dragging the S&P 500 and other indexes back and forth. How Nvidia’s stock performs has more impact than any other because it’s grown into Wall Street’s most valuable company at roughly $3.6 trillion. The frenzy around AI is sweeping up other stocks, and Snowflake jumped 32.7% after reporting stronger results for the latest quarter than analysts expected. The company, whose platform helps customers get a better view of all their silos of data and use AI, also reported stronger revenue growth than expected. BJ’S Wholesale Club rose 8.3% after likewise delivering a bigger profit than expected. That may help calm worries about how resilient U.S. shoppers can remain, given high prices across the economy and still-high interest rates. A day earlier, Target tumbled after reporting sluggish sales in the latest quarter and giving a dour forecast for the holiday shopping season. It followed Walmart , which gave a much more encouraging outlook. Nearly 90% of the stocks in the S&P 500 ended up rising Thursday, and the gains were even bigger among smaller companies. The Russell 2000 index of smaller stocks jumped a market-leading 1.7%. Google’s parent company, Alphabet, helped keep indexes in check. It fell 4.7% after U.S. regulators asked a judge to break up the tech giant by forcing it to sell its industry-leading Chrome web browser. In a 23-page document filed late Wednesday, the U.S. Department of Justice called for sweeping punishments that would include restrictions preventing Android from favoring its own search engine. Regulators stopped short of demanding Google sell Android but left the door open to it if the company’s oversight committee continues to see evidence of misconduct. All told, the S&P 500 rose 31.60 points to 5,948.71. The Dow jumped 461.88 to 43,870.35, and the Nasdaq composite added 6.28 to 18,972.42. In the crypto market, bitcoin eclipsed $99,000 for the first time before pulling back toward $98,000, according to CoinDesk. It’s more than doubled so far this year, and its climb has accelerated since Election Day. President-elect Donald Trump has pledged to make the country “the crypto capital of the planet” and create a “strategic reserve” of bitcoin. Bitcoin got a further boost after Gary Gensler, the chair of the Securities and Exchange Commission, said Thursday he would step down in January . Gensler has pushed for more protections for crypto investors. Bitcoin and related investment have a notorious history of big price swings in both directions. MicroStrategy, a company that’s been raising cash expressly to buy bitcoin, saw an early Thursday gain of 14.6% for its stock quickly disappear. It finished the day with a loss of 16.2%. In the oil market, a barrel of benchmark U.S. crude rose 2% to bring its gain for the week to 4.8%. Brent crude, the international standard, climbed 1.8%. Oil has been rising amid escalations in the Russia-Ukraine war. In stock markets abroad, shares of India’s Adani Enterprises plunged 22.6% Thursday after the U.S. charged founder Gautam Adani in a federal indictment with securities fraud and conspiracy to commit securities and wire fraud. The businessman and one of the world’s richest people is accused of concealing that his company’s huge solar energy project on the subcontinent was being facilitated by an alleged bribery scheme. Stock indexes elsewhere in Asia and Europe were mixed. In the bond market, the yield on the 10-year Treasury inched up to 4.43% from 4.41% late Wednesday following some mixed reports on the U.S. economy. One said fewer U.S. workers applied for unemployment benefits last week in the latest signal that the job market remains solid. Another report, though, said manufacturing in the mid-Atlantic region unexpectedly shrank. Sales of previously occupied homes, meanwhile, strengthened last month by more than expected. AP Business Writers Matt Ott and Yuri Kageyama contributed.With Q2 earnings season having left many investors disappointed, Mihir Vora , CIO, Trust Mutual Fund , says he is not in the slowdown camp as government spending is expected to pick up sharply in the second half of year and act as a kicker to growth. In this chat with ETMarkets, the Dalal Street veteran says he is bullish on three broad themes: rising income levels, physical asset creation and technological disruption . Edited excerpts: Mutual fund inflows have been strong even when the market is falling. How much cash are you deploying in your portfolios amid the market correction? We usually do not take big cash calls. In our existing Flexicap fund, the usual cash levels are 1 to 5%. We had about 7% cash and have deployed much of it in the fall. We were however fortunate as we just collected monies in our smallcap NFO, which we substantially deployed this month. SIPs have become a counter-force to selling by FIIs . Do you think the monthly SIP flow can hit the Rs 1 lakh crore mark as soon as 4-5 years? We are at about Rs. 25,000 crore monthly run rate. I would say that at 15-20% compounded growth rate, we could reach that level in 7 to 11 years. 5 years may be too optimistic. 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Are you cautious or bullish at this stage of the market? We are at an interesting juncture in the markets. After a stellar run over the past 12 months, we have seen a healthy correction and the market stands at crucial support levels. There are global tailwinds, with expectations that the US economy will continue to grow well and that the US Federal reserve will continue to keep monetary policy benign. On the other hand, China continues to struggle with growth. Domestically, rural demand is stabilising after a prolonged post-COVID weakness, while urban demand appears to be peaking. On the positive side, primary sales seem to be picking up in the festival season. We expect government spending, which was sluggish in the first half, to pick up significantly in the second half. The key state elections are also behind us with signals of continuity for the existing regime at the centre, a positive for markets. So, the next few weeks will be important, and I am cautiously optimistic. The India growth story remains intact. Do you think FII selling is done now and the market will bounce back to lifetime peak once again by the end of the calendar year? What are the chances of a Santa rally this time? The key reason for FII outflows (from all global markets, not only India) is the US dollar strength and expectations of US corporates doing well under the Trump regime. Moreover, we also need to see the bigger picture, which is that India also received massive inflows in June to September – almost $14 billion, out of which 10 flowed out in October. In the medium term, we expect the US dollar strength to plateau, bringing foreign flows back to normalcy and markets to continue the uptrend. The other big picture fact is that while FII flows are flat now for the calendar year, domestic institutional purchases are a staggering $57 billion so far this year. The market is well supported by flows. FII activity tends to slow down in December as they're in vacation mode. Moreover, FIIs are also very short in the futures segment. As they unwind their position and if the US dollar strength plateaus, we could see a Santa rally. How has your investing strategy changed after the Q2 earnings season? And do you think we will see recovery in H1FY25? Most of the downgrades have been seen in large caps, especially segments which are global in nature like commodities and IT. The wider market has been more resilient especially sectors which are more domestic oriented. So the Nifty50 stocks have seen sharper downgrades, not so much for the broader indices like the 500 or smallcap index. So we are not in the slowdown camp. Expect government spending to pick up sharply in the second half, which should be a kicker to growth. We follow the Growth at Reasonable Valuations approach. So we usually buy stocks where there is visibility of earnings growth. Moreover, we also pay close attention to upgrades or downgrades to earnings to see that the earnings momentum is intact. We need 50-60 stocks to build the portfolio and we find that it is not that difficult to find these from a wide universe of 500-800 stocks. Which sectors are on your watchlist from a longer term perspective? And which ones are you staying away from? We are bullish on three broad themes: rising income levels, physical asset creation and technological disruption. Rising income levels means that growth rates of segments catering to premium consumption will be higher. Some examples are premium vehicles, premium real estate, jewellery, consumer durables, hotels, airlines etc. It also means that segments that cater to financial savings will grow faster – insurance, wealth management, asset management, broking, exchanges, depositories, registrars, distributors of financial services and products etc. Physical asset creation includes sectors like real estate, capital goods, construction, infrastructure, power, defence, railways. Technological disruption includes all the new-age companies in the B2B and B2C space, which use technology to create new business models or to disrupt existing traditional models. So these segments continue to remain our core picks. However, in the recent few quarters, banks, finance companies, chemicals, defence have corrected more and have underperformed. These also offer a good balance of growth and valuation. We are usually underweight on global sectors like metals, commodities, oil & gas, large-cap IT etc. We also don't usually prefer sectors with too much regulation and controlled margins. (You can now subscribe to our ETMarkets WhatsApp channel )
LYNN — Healing Abuse, Working for Change (HAWC) Executive Director Sara Stanley and Board Member Paul Kurker were recognized by the North Shore Chamber of Commerce with the Distinguished Leaders Award. The Distinguished Leaders Award is presented annually to individuals who have made a profound and lasting impact within their company, industry, and community. Stanley, Kurker, and Tom Sands of Beth Israel Lahey Health received the award at the Chamber’s 105th Annual Dinner Meeting. HAWC is a nonprofit organization dedicated to supporting survivors of domestic abuse and promoting social change. It has community-based offices in Lynn and Salem and also supports Beverly, Boxford, Danvers, Essex, Georgetown, Gloucester, Hamilton, Ipswich, Lynnfield, Magnolia, Manchester-by-the-Sea, Marblehead, Middleton, Nahant, Peabody, Rockport, Rowley, Saugus, Swampscott, Topsfield, and Wenham. Stanley became the executive director of HAWC in 2018 and also serves on the Essex County Commission on the Status of Women, on the Board of Directors for Jane Doe Inc., and on the Thrive Advisory Council for the North Shore Chamber. She was also named one of the inaugural recipients of the North Shore Chamber of Commerce’s Diamond Awards in 2021, given to extraordinary businesswomen who make a positive impact on their community. “It is a tremendous honor to be recognized by my colleagues ... as someone who is committed to the North Shore and committed to seeing that we can all thrive,” Stanley said. Stanley emphasized the importance of HAWC’s mission, and expressed gratitude to the North Shore Chamber of Commerce for supporting their efforts. “In reality, most people know someone who has experienced domestic abuse,” Stanley said. “The fact that we have leaders in our community that are willing to donate their time, energy, and talent to supporting survivors and hopefully preventing abuse in the future is really important.” Kurker is the senior vice president at Eastern Bank and has been a community advocate for more than 25 years. He has served on HAWC’s Executive Committee since 2015, holding the position of Treasurer. “It was a great honor to be recognized as a North Shore Distinguished Leader, especially alongside Sara Stanley and Tom Sands,” Kurker said. “I am fortunate to work at Eastern Bank who not only allows volunteerism, but encourages [it as one of its] pillars of existence.” “We are immensely proud of Sara and Paul, and grateful for their unwavering commitment and exceptional leadership in advancing HAWC’s mission. Under their leadership HAWC has strengthened the operation and services available to the community. With a newly developed strategic plan in place that will have a profound impact, their awards are a well-deserved reflection of their tireless work and compassion,” HAWC Board of Directors President Elisa Castillo said. “As we continue our mission to support survivors and challenge patterns of oppression and violence, we are reminded of how crucial strong leadership and community collaboration are to effecting meaningful change,” HAWC stated in a press release. For more information on HAWC’s programs and initiatives, visit hawcdv.org. HAWC’s 24-hour hotline phone number is 800-547-1649."Drones" were in the headlines again this week -- and for millions of Americans up and down the East Coast, maybe also over -head. As far north as New York to as far south as Florida -- and as far west as an Air Force base in Ohio, too -- unidentified flying objects (UFOs) that appear to be a mix of formation-flying quadcopter and fixed-wing drones have been reported buzzing American skies. The FBI and Homeland Security insist this is all bunk, that there's "no evidence" that drones "pose a national security or public safety threat," and that the things people are seeing may not even be drones at all but rather misidentified private and commercial aircraft. Regardless, citizens are worried and politicians are irate. Sen. Chuck Schumer (D-N.Y.) has asked the White House to send "special drone-detection tech" to monitor the airways in New York and New Jersey. Governor Kathy Hochul (D-N.Y.) wants a "state-of-the-art drone detection system" for her state. In the meantime, the Federal Aviation Administration has banned flying drones over large swathes of central and northern New Jersey for the next month. Buy American or buy Dutch? Obviously, that's untenable as a long-term solution. Drones are part of everyday life now , from families unwrapping DJI drones at Christmas to companies using drones to inspect crop health and cellphone tower repairs. Rather than banning their use entirely, we really need a solution that tells us who's flying around up there. Sen. Schumer and Gov. Hochul favor buying an "IRIS" radar system from Dutch company Robin Radar Systems, already in use in Ukraine to detect Russian drones. This small radar is described as having a 360-degree field of view and being able to detect flying objects to a range of 3 miles. But here's the thing: We don't need to import radar systems from the Netherlands to solve this problem. There's a made-in-America solution already available. (Re) introducing JLENS I'm talking about JLENS, the Joint Land Attack Cruise Missile Defense Elevated Netted Sensor System that RTX Corporation ( RTX 0.88% ) developed for the U.S. military back in the early 20-teens. Designed primarily for missile defense, the U.S. Army describes JLENS as being able to detect "all fixed- and rotary-wing aircraft, unmanned aerial vehicles, and land attack cruise missiles," and even "surface moving targets, large caliber rockets, and tactical ballistic missiles." Like IRIS, JLENS provides a 360-degree field of view, but with significant advantages over IRIS. In contrast to the Dutch system, which sits on the ground, JLENS aerostats float two miles up in the air, extending their horizon such that a single JLENS "can track multiple threats simultaneously up to a range of 340 miles." Moreover, unlike the civilian IRIS system, JLENS possesses fire-control radars among its suite of sensors and can direct active weapons systems to target and destroy threats as they're identified. Time to reactivate JLENS? Admittedly, JLENS is not currently an active U.S. military program. In 2015, a JLENS system stationed at Aberdeen Proving Grounds in Maryland broke loose from its ground tether and began wandering aimlessly around the Eastern seaboard , frustrating law enforcement efforts to bring it down to Earth. By 2016, Congress had zeroed out funding, effectively canceling the JLENS project here in the U.S. Internationally, however, JLENS may still be active -- perhaps in the Netherlands' own backyard. Just earlier this year, the Pentagon informed Congress of a request by Poland to purchase multiple aerostat systems for missile defense. While not referred to by the "JLENS" name, these aerostats appear to be in the same line of work as JLENS -- and RTX was named as the principal defense contractor on the sale. JLENS versus IRIS Assuming the U.S. decides to invest in military technology to get its drone situation under control, JLENS seems to me a more cost-effective solution than IRIS, although it may not seem so at first. Details of a 2022 U.K. contract suggest IRIS costs about $300,000 per year to operate versus JLENS costing $235 million to purchase. At first, that may seem to make IRIS the budget-conscious choice for drone control, but consider: JLENS's 340-radius range of detection, across a 360-degree field of view, encompasses some 363,000 square miles of coverage. (The cubic volume of coverage would be even greater.) To cover a similar area with IRIS's 3-mile range (and 113-mile area of coverage) would require setting up more than 3,000 separate IRIS radars...at a total cost of more than $960 million. Just thinking mathematically, therefore, it appears to me that JLENS offers significantly more bang for the buck than does IRIS. In addition, JLENS is a made-in-the-U.S.A. product, benefiting U.S. companies, which IRIS is not and does not. And if buying JLENS helps to accelerate RTX's 10% long-term projected growth rate and makes RTX stock a bit more attractive a buy than its 33 price-to-earnings ( P/E) ratio makes it appear today, then for investors, that would certainly be another argument in favor of buying JLENS.
Sir Keir Starmer has used his Christmas address to wish a "better, brighter future for every person" after a year marked by significant challenges for the UK. The Prime Minister highlighted the festive season as a moment to acknowledge the value of "being there for one another", especially during "the more difficult times". He also shared his aspirations for "peace, particularly in the Middle East as the birthplace of the Christmas story", amid ongoing conflicts in the area. The message arrives following a tough initial five months at the helm for the Labour Government, which is navigating through a stagnant economy and escalating inflation rates. The prime minister said: "This Christmas, people will be travelling up and down the country. Heading home, visiting relatives and loved ones to celebrate together the hope and joy of this special season. "It’s a time to remind ourselves what’s really important. Family. Friendship. And fellowship between all people. "Being there for one another – in these celebrations, as well as the more difficult times." In the wake of another politically turbulent year for Britain, which saw the Labour Party secure a decisive victory in an unexpected election called by Rishi Sunak during the summer, the Prime Minister's tone was one of cautious optimism. Since assuming office in July, the new administration has faced criticism over several contentious decisions while grappling with the pressures of overstretched public services and tight government finances. Sir Keir spoke on tackling both the nation's economic legacy and a "broken society", highlighted by this summer's riots following the Southport knife attack. He said: "This Christmas, I will be hoping for peace, particularly in the Middle East as the birthplace of the Christmas story. "I’ll be looking towards a better, brighter future for every person and celebrating the joy and wonder that Christmas brings. "So, from my family to yours, I hope you have a very merry Christmas." Following newly adjusted figures released on Monday, indicating a stagnation in the UK’s GDP in recent months, Downing Street has had to defend its economic track record, with a spokesperson claiming: "We had to take those tough decisions to lay the foundations of growth such that we can then deliver the higher living standards over this Parliament that people want to see." In his message, the Prime Minister also made sure to show gratitude to those who sacrifice their holiday season for the greater good, thanking workers in the NHS and emergency services, armed forces, as well as volunteers in churches and charities. He shared his thoughts for those enduring hardship during the holidays, saying, "I know that this is not an easy time for everyone, and my thoughts are with all those who are lonely this Christmas. "Having a tough time, missing a loved one. You are not alone." Tory leader Kemi Badenoch also chimed in on the seasonal reflections, emphasizing that Christmas provides an opportunity to look back on the past year and "support all of those people who need our assistance." "I want to take this opportunity to say thank you to everyone, not just in the Conservative Party or in my constituency, but across the country," she said. "For all that you have been doing in your communities, supporting each other and helping to keep all our towns, villages and places going. "I think that Christmas is a time for us to reflect on all that’s happened in the year. "Sometimes we have amazing years. "Sometimes, like when I lost my dad, we have difficult years and we’re commiserating, but we do it together. "But it’s a time for us to support all of those people who need our assistance, who need our help, who need our support. She added: "And I’m looking forward to 2025. "I wish you all the very best for the New Year and all of the exciting things to come." Liberal Democrat leader Sir Ed Davey said: "This year, I’ve had the chance to spend time with some amazing young carers. "Incredible young people who will spend this Christmas doing what they do all year round; looking after loved ones who are ill or disabled. "Carers embody the Christmas spirit of love, selflessness and generosity. "So I hope we can all take some time to think of them, and keep them in our hearts. "And wish them – and everyone – a Christmas full of peace, joy and love." ChronicleLive is now on WhatsApp and we want you to join our communities. We have a number of communities to join, so you can choose which one you want to be part of and we'll send you the latest news direct to your phone. You could even join them all! To join you need to have WhatsApp on your device. All you need to do is choose which community you want to join, click on the link and press 'join community'. 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Remitly: Interesting Small-Cap With Large TAM But Lots Of Competition
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