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SANTA CLARA — When Isaac Guerendo trots onto the field with the first team Sunday at Levi’s Stadium, he will equal the same number of starts he had in five years of college football. Hard to believe, but Guerendo started exactly one time, and it came in his final college game at Louisville. Against USC in the Holiday Bowl, Guerendo carried 23 times for 161 yards and three touchdowns and added five receptions in a 42-28 loss. In 40 other games at Wisconsin and Louisville, Guerendo played in a shared backfield –something he’s done with the 49ers this season behind Jordan Mason and Christian McCaffrey . With McCaffrey on injured reserve with a PCL strain and Mason to follow soon with a high ankle sprain, Guerendo should get his biggest workload since his last college game. “I’m excited, but really it’s whatever it takes to win,” Guerendo said Wednesday as the 49ers (5-7) began preparations to host the Bears (4-8). “Whatever the plan looks like is what we’ll bring.” Guerendo will be backed up by Patrick Taylor Jr., who was on the roster earlier this season when McCaffrey was dealing with bilateral Achilles tendinitis, then re-signed to the practice squad. Taylor was promoted Tuesday, and the 49ers also made a waiver claim on former Jets running back Israel Abanikanda. “I think he’s ready to go,” 49ers coach Kyle Shanahan said. “He had some ups and downs but got better through everything. I think he’s ready for this.” Guerendo, 6-foot and 219 pounds, has 42 carries for 246 yards and two touchdowns, averaging a gaudy 5.9 yards per carry. His 15-yard run in the third quarter was the 49ers’ lone touchdown in a 35-10 loss to the Buffalo Bills. The 49ers traded up to get Guerendo in the fourth round, only to see him sidelined with a hamstring strain in his first training camp practice. A speedy wide receiver at Avon High School in Indiana who also ran track and played basketball, Guerendo carried 10 times for 99 yards with a long run of 76 against Seattle and 14 times for 85 yards against Dallas. At Wisconsin, Guerendo played behind Jonathan Taylor, now a star running back for the Indianapolis Colts. He split time as a graduate student at Louisville with Jawhar Jordan, who rushed for 1,128 yards while Guerendo had 810 yards on 132 carries and a 6.1-yard average. The good news is Guerendo’s body hasn’t taken on the normal amount of abuse for a running back. And Guerendo feels he’s up to the challenge after playing 12 games with old-school running backs coach Bobby Turner. “I always give credit to Coach T for preparing everybody like they’re going to be the starter, so that when moments do come, you’re ready for it,” Guerendo said. McCaffrey appeared to have finally gotten untracked against the Bills, gaining 53 yards on seven carries before getting tripped up on a 19-yard burst in the second quarter. But the tackle injured his knee, Mason injured his ankle, and Guerendo became the lead runner for a team that is sixth in the NFL in rushing. Over time, Guerendo has become accustomed to the speed of the NFL game. “I think it takes guys some time,” Shanahan said. “You start to get a feel for it, if you’ve got the right stuff, you get more reps and the more you adjust to it. How hard you’ve got to hit stuff, how quick those holes close, how you have to hit it full speed and can’t hesitate. We’ve seen that stuff get better in practice and we’ve seen it carry over into games.” McCaffrey, meanwhile, took to social media in the form of a lengthy Instagram post to explain how he was feeling after his latest injury. He wrote of his love for football, how humbling it is and his desire to return. “This wasn’t my year, and sometimes when it rains, it pours,” McCaffrey wrote. “You can feel sorry for yourself and listen to the birds, or you can hold the line. I’m grateful for the support of everyone in my corner and promise I’ll work smarter and harder to come back better from this.” For those who dream big, Shanahan said with a six-week time frame, McCaffrey could conceivably return if the 49ers reach the postseason. THE INJURY LIST Those who didn’t practice Wednesday included edge rusher Nick Bosa (hips, obliques), left tackle Trent Williams (ankle), left guard Aaron Banks (concussion), Mason (ankle) and linebacker Demetrius Flannigan-Fowles (ankle). Cornerback Deommodore Lenoir (knee), linebacker Dre Greenlaw (Achilles) and safety Talanoa Hufanga (wrist) were limited. Defensive tackle Jordan Elliott has cleared concussion protocol after missing the Buffalo game. Hufanga joined Greenlaw as practicing during a 21-day window. Shanahan said it’s more likely Greenlaw would be activated before a Thursday night game against the Los Angeles Rams on Dec. 12 than against Chicago. HUFANGA AND THE CLUB After recovering from an ACL tear last season, Hufanga has played in just two games this season. First, he was felled by an ankle injury, and then a wrist injury that needed surgery. When activated, he’ll play with a protective club on his right hand. “I was still dealing with the ankle. I was about to get it re-wrapped and for some reason my hand wouldn’t open,” Hufanga said. Hufanga said he’ll try to use the protective device as a benefit rather than a detriment. “I had a good friend back in the day who played with a club who had three picks in one game, so you never know,” Hufanga said. MOORE FARES WELL Left tackle Jaylon Moore acquitted himself well for the second straight game in starting in place of Williams. “It was OK, but you can always get better and that’s what I’m focusing on — the things I can get better at,” Moore said. Tight end George Kittle noted last week that Moore was at left tackle all through training camp during Williams’ holdout, so it’s not like he hasn’t been with the first team. “It definitely did help, especially being comfortable with the group,” Moore said. “The quarterback’s cadence, the guy you’re next to, all the small stuff comes into play.”White House official: 8 US telecom providers hacked by Chinese
NEW YORK (AP) — U.S. donors gave $3.6 billion on Tuesday, an increase from the past two years, according to estimates from the nonprofit GivingTuesday . The Tuesday after Thanksgiving, now known as GivingTuesday, has become a major day for nonprofits to fundraise and otherwise engage their supporters each year, since the 92nd St Y in New York started it as a hashtag in 2012. GivingTuesday has since become an independent nonprofit that connects a worldwide network of leaders and organizations who promote giving in their communities. “This just really shows the generosity, the willingness of American citizens to show up, particularly collectively,” said Asha Curran, CEO of the nonprofit GivingTuesday. “We are just seeing the power of collective action and particularly collective giving over and over and over again.” This year, about 18.5 million people donated to nonprofits and another 9.2 million people volunteered, according to GivingTuesday’s estimates. Both the number of donors and the number of volunteers increased by 4% from the group’s 2023 estimates. “For us, it’s not just about the number of dollars,” Curran said. “It’s about the number of people who feel like they have agency over the way their communities progress forward into the future.” RELATED COVERAGE How an Irish YouTuber turned a niche following into millions for charities with holiday livestreams Tiger Woods in favor of Americans getting paid at the Ryder Cup as long as it goes to charity Melinda French Gates plans to match $1M in GivingTuesday gifts to groups that support women The nonprofit GivingTuesday estimates the amount of money and goods donated and the number of participants using data from donor management software companies, donation platforms, payment processors and donor-advised funds. Curran said they are purposely conservative in their calculations. Nonprofits in the U.S. raised $3.1 billion in both 2022 and 2023 on GivingTuesday. That mirrored larger giving trends where the overall amount of donations dropped in 2022 and mostly held steady in 2023 after accounting for inflation. It’s never easy to predict current giving trends, but Una Osili, associate dean at the Indiana University Lilly Family School of Philanthropy, said there were economic forces pushing in both directions. “At the very same time, there’s a lot of uncertainty, especially around prices, the cost of living, the supermarket toll that people are expecting to continue even though inflation has moderated,” she said. Donating or volunteering with nonprofits aren’t the only ways people participate in their communities. Many give to crowdfunding campaigns , political causes or support people directly in their networks. But tracking charitable donations is one way that researchers use to understand people’s civic engagement. “This country is undeniably in a lot of pain and very divided right now,” Curran said. “And so to have a day that felt as hopeful and as optimistic as yesterday did, I’m sure was not only comforting to me, but to many, many millions of people.” ___ Associated Press coverage of philanthropy and nonprofits receives support through the AP’s collaboration with The Conversation US, with funding from Lilly Endowment Inc. The AP is solely responsible for this content. For all of AP’s philanthropy coverage, visit https://apnews.com/hub/philanthropy .CNEY Receives NASDAQ Minimum Bid Price Requirement ExtensionLAS VEGAS--(BUSINESS WIRE)--Dec 4, 2024-- At AWS re:Invent, Amazon Web Services, Inc. (AWS), an Amazon.com , Inc. company (NASDAQ: AMZN), and Grab, Southeast Asia’s leading superapp (NASDAQ: GRAB), announced that Grab has selected AWS as its preferred cloud provider. With AWS, Grab is pursuing a technology-led strategy to accelerate growth across its mobility, deliveries, and financial services verticals, including its new digibanks, while continuing to improve its operational efficiencies and reduce IT infrastructure costs. Grab relies on the world’s leading cloud to serve 41.9 million monthly transacting users 1 and over 13 million driver and delivery partners 2 registered on its platform. Every second, Grab processes over a hundred transactions, receives over 500k GPS pings and services over 50,000 ETA requests. AWS powers Grab’s critical compute, storage, networking, and database functions. By leveraging AWS's resilient, secure, and elastic cloud, Grab accelerates innovation, rapidly launches new services, and scales efficiently across its eight-country footprint: Cambodia, Indonesia, Malaysia, Myanmar, the Philippines, Singapore, Thailand, and Vietnam. “At Grab, our strategy for growth is anchored on constant innovation to outserve the needs of our users and partners,” said Suthen Thomas Paradatheth, CTO of Grab. “This requires rapid experimentation, while ensuring security and stability, along with the ability to fully harness the potential of the latest tech like generative AI. We're pleased to extend our partnership with AWS as our preferred cloud partner to continue to support us on this journey.” Grab optimizes operating costs with AWS As Grab looks to balance growth with cost discipline, it is using AWS Cloud to power the majority of its operations in Southeast Asia across verticals such as mobility, deliveries, and financial services and entities, including its digibanks in Indonesia, Malaysia, and Singapore. By adopting AWS’s suite of cloud-based solutions, Grab has been able to gain agility and reduce operational costs. Grab uses analytics service AWS Clean Rooms, which enables secure, privacy-preserving data collaboration between different entities and organizations. Grab also leverages AWS’s purpose-built databases and has migrated more than 400 backend application services from traditional virtual servers to AWS Graviton2 processors to drive high performance, as well as cost and energy efficiency. Grab relies on AWS to scale securely, swiftly, and with stability On-demand transactions made by Grab customers were up 22% in the third quarter of 2024. To cater to this surge in demand for services, Grab uses Amazon Relational Database Service (Amazon RDS) as its transactional database coupled with Amazon DynamoDB. This ensures high availability, scalability, and adaptability of its platform to drive exceptional customer experience fueled by more accurate searchable data. With AWS, Grab seamlessly adapts to evolving customer needs by easily adjusting resources dynamically based on user demand. For example, during peak times like holiday sales, Grab can easily accommodate increased traffic to make transactions across the superapp seamless. Conversely, during off-peak periods, resources can be scaled down to save costs. As it looks to accelerate growth with initiatives focused on affordability, high value offerings, and digital banking, AWS provides Grab with a stable and scalable infrastructure to support this rapid expansion. For instance, Grab continues to scale its revamped Advance Booking feature across the region. It also did a region-wide roll out of its improved Group Order feature and continues to drive adoption for it, making it easier for users to join the group order, track food delivery updates, and split the bill. With AWS, Grab was also able to build and launch digital banks in Singapore and Indonesia, as well as GX Bank in Malaysia, which was launched in under 16 months, scaling rapidly to serve close to one million customers within the first year of launch. Accelerating AI-led growth at Grab with AWS As one of the pioneers of AI adoption in Southeast Asia, Grab is committed to being at the forefront of exploring how the latest AI technologies can better serve and respond to the needs of its users and partners. Catwalk, Grab’s machine learning (ML) model platform, is built on Amazon Elastic Kubernetes Service (Amazon EKS), and has been used to deploy over 1,000 AI models in production, such as route guidance and pricing. With Catwalk, Grab provides users’ real-time decision-making across its services and delivers personalized experiences like tailored restaurant recommendations, loyalty rewards, and bespoke financial services based on users’ preferences. In addition, Grab uses AWS’s custom-designed AWS Inferentia chips with specialized ML inference capabilities to cost efficiently power its AI-powered services, including map enhancements and fraud detection in its digital banks. Grab also leverages AWS as the underlying compute infrastructure for its many AI initiatives. The superapp stores hundreds of petabytes of data and processes over 200 TB of data—the equivalent of 200,000 full-length movies—on AWS daily. This data forms the foundation of Grab's advanced analytics, ML, and AI initiatives, with AWS powering innovations across the company’s services offerings. Building on AWS’s compute foundations, Grab continues to develop and implement several AI-powered use cases, particularly to improve driver productivity and support merchant growth. By integrating large language models (LLMs) with point-of-interest data and historical customer notes, Grab has refined its last-mile guidance system for delivery partners. This enhancement provides drivers with more precise drop-off instructions, enabling them to complete more trips every hour, leading to higher earnings, while expediting food delivery to consumers. Additionally, Grab has rolled out a new feature that uses AI to create appetizing descriptions of food dishes in five of its eight markets. This has boosted order completion rates, bringing particular benefits to smaller, unique restaurants on the platform and enhancing the overall dining experience for customers. "AWS is proud to support Grab in its mission to drive innovation and enhance customer experiences across Southeast Asia," said Jeff Johnson, managing director, ASEAN at AWS. "By leveraging AWS's unparalleled operational performance, scalability, and cutting-edge technologies, Grab is able to deliver personalized, seamless transactions to millions of users throughout the region. As the leading cloud provider, AWS is uniquely positioned to help Grab optimize its price performance, boost operational efficiency, and continually evolve its broad suite of data-powered services. We're excited to continue collaborating with Grab as it navigates the dynamic landscape of ecommerce and superapp development, ensuring it stays at the forefront of innovation in the digital economy.” About Grab Grab is a leading superapp in Southeast Asia, operating across the deliveries, mobility and digital financial services sectors. Serving over 700 cities in eight Southeast Asian countries - Cambodia, Indonesia, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam - Grab enables millions of people everyday to order food or groceries, send packages, hail a ride or taxi, pay for online purchases or access services such as lending and insurance, all through a single app. Grab was founded in 2012 with the mission to drive Southeast Asia forward by creating economic empowerment for everyone, and strives to serve a triple bottom line: to simultaneously deliver financial sustainability and have a positive social and environmental impact in Southeast Asia. About Amazon Web Services Since 2006, Amazon Web Services has been the world’s most comprehensive and broadly adopted cloud. AWS has been continually expanding its services to support virtually any workload, and it now has more than 240 fully featured services for compute, storage, databases, networking, analytics, machine learning and artificial intelligence (AI), Internet of Things (IoT), mobile, security, hybrid, media, and application development, deployment, and management from 108 Availability Zones within 34 geographic regions, with announced plans for 18 more Availability Zones and six more AWS Regions in Mexico, New Zealand, the Kingdom of Saudi Arabia, Taiwan, Thailand, and the AWS European Sovereign Cloud. Millions of customers—including the fastest-growing startups, largest enterprises, and leading government agencies—trust AWS to power their infrastructure, become more agile, and lower costs. To learn more about AWS, visit aws.amazon.com . About Amazon Amazon is guided by four principles: customer obsession rather than competitor focus, passion for invention, commitment to operational excellence, and long-term thinking. Amazon strives to be Earth’s Most Customer-Centric Company, Earth’s Best Employer, and Earth’s Safest Place to Work. Customer reviews, 1-Click shopping, personalized recommendations, Prime, Fulfillment by Amazon, AWS, Kindle Direct Publishing, Kindle, Career Choice, Fire tablets, Fire TV, Amazon Echo, Alexa, Just Walk Out technology, Amazon Studios, and The Climate Pledge are some of the things pioneered by Amazon. For more information, visit amazon.com/about and follow @AmazonNews. ______________________ 1 As of Grab Q3’24 results 2 As per Grab ESG Report 2023 View source version on businesswire.com : https://www.businesswire.com/news/home/20241204105661/en/ CONTACT: Grab Media Team press@grab.comAmazon.com , Inc. Media Hotline Amazon-pr@amazon.com KEYWORD: UNITED STATES NORTH AMERICA ASIA PACIFIC NEVADA WASHINGTON INDUSTRY KEYWORD: RETAIL TRANSPORT SOFTWARE ARTIFICIAL INTELLIGENCE NETWORKS FINANCE INTERNET BANKING DATA MANAGEMENT PROFESSIONAL SERVICES LOGISTICS/SUPPLY CHAIN MANAGEMENT DIGITAL CASH MANAGEMENT/DIGITAL ASSETS TECHNOLOGY DELIVERY SERVICES FINTECH DATA ANALYTICS PAYMENTS APPS/APPLICATIONS SOURCE: Amazon.com , Inc. Copyright Business Wire 2024. PUB: 12/04/2024 06:30 PM/DISC: 12/04/2024 06:28 PM http://www.businesswire.com/news/home/20241204105661/en
Greens Senator Sarah Hanson-Young (Image: Private Media/Zennie) Last week was a big week of anniversaries for Greens Senator Sarah Hanson-Young. November 24 marked 17 years since her election as a South Australian senator — the youngest woman ever elected to federal Parliament. She is also now the longest-serving Greens member, recently overtaking Rachel Siewert. “I’ve seen some stuff...” she tells me. November 25, meanwhile, marked five since she won a defamation case against former senator David Leyonhjelm, who famously told her to “stop shagging men” during a debate on women’s safety. Adam Bandt has issued terms to Labor. Labor should tell the Greens to get stuffed Read More That would be among the stuff . Last week’s milestones were overshadowed, however, by the PM’s intervention to “ scupper ” a deal Hanson-Young been negotiating with Environment Minister Tanya Plibersek on Labor’s nature positive reforms, including its promise to establish an environmental watchdog. Hanson-Young, who is the Greens’ environment spokesperson as well as manager of Senate business, walked into Parliament last week “hopeful” that a deal was close. The Greens had dropped demands for a climate trigger , focusing instead on native forest logging, while arguing the bill was far from what an independent review had recommended back in 2020. Alas, it was not to be, with Anthony Albanese informing the Greens on Tuesday the nature deal would not be proceeding, as he negotiated directly with leader Adam Bandt and Hanson-Young on a tranche of other bills. Journalists have been keen to establish just how formal the agreement was when canned, and just how much of a slight this was against Plibersek, who reportedly wasn’t told until after the fact. Hanson-Young has been guarded on what exactly occurred, hoping the bill can still be salvaged. But she’s been clear on a few things. First, she reckons Albanese bowed to mining interests in WA on this one — something seemingly confirmed by the industry “ cheering ” his decision (WA Labor Premier Roger Cook quickly claimed credit ). Second, that Plibersek was a good negotiator, who was actually willing to talk and seek compromise. Hanson-Young points to bills they’ve successfully worked on, including the Murray Darling Basin plan and nature repair scheme . “Negotiating from different positions is not always friendly, but the way I engage and the way Tanya has always engaged is respectful and honest,” she says. “I think what happened last week would have been pretty devastating to her, because she had her heart set on getting this piece of legislation through.” It’s a far cry from the acrimony of which Labor and the Greens have both been accused. Are women simply better at negotiating? So much for Greensland: Does Adam Bandt know why the Greens are stalling? Read More “I think women are better at it,” says Hanson-Young, noting conversations with Senate counterpart Katy Gallagher are similarly productive, with each able to put their ego aside. “That’s a generalisation, but frankly there’s a lot of blokes in that place who spend a lot of time talking tough ... a little more time listening, a little more time considering what the other side is looking for, wouldn’t go astray.” “Just because you shout it loudest doesn’t actually mean your idea is the best,” she adds, noting Parliament still has a way to go in this area. Our chat comes amid reports the Greens have adopted a “ new spirit of cooperation ”, with many linking recent election results to the minor party being too obstructive. Bandt has been out defending this year’s approach , while indicating he’s up for more collaboration in the next, saying the Greens would seek a deal with Labor in a hung parliament. Hanson-Young is of a similar mind, arguing that it was important for the Greens to push for better outcomes. “I know people don’t like hearing about how the sausage is made,” she says. “But I think what we’ve seen at the end here, in this last week of Parliament, you know, over 40 bills passed — the majority of which were negotiated with the Greens and the government constructively. We got a good outcome; we didn’t get everything we wanted, but we got a lot.” Should they have pushed harder for the nature reforms, insisting — as independent David Pocock initially did — that the bill be included in any package deal? Hanson-Young says there was no point, with Albanese making “very clear” he wasn’t going to countenance it. “At some point you do have to make a call about getting what you can,” she adds, arguing it was “fantasy land” to think the PM was going to suddenly stand up to the mining industry. “That’s the art of negotiation and it’s the art of compromise.” Why does Labor keep using the phrase ‘Greens political party’? Read More Like Bandt, Hanson-Young has begun speaking out even more forcefully against Peter Dutton since Donald Trump’s election victory, arguing the Greens’ job is simultaneously to “push Labor to be better, but keep Dutton out”. “Women in particular are terrified of the licence that Peter Dutton is giving his front and backbench to spruik and follow the ultra-right rhetoric in America,” she tells me. One of her priorities next year will be helping the Greens win Liberal-held Sturt in South Australia, in which the minor party has an outside chance . But she also wants to ensure the party has a strong Senate bloc, ensuring that “nature, climate and the community have a strong voice, whoever ends up being prime minister”. And like Bandt, she’s adamant that it’s time for progressives in Parliament to start working together. “Otherwise we end up handing the keys of the Lodge to a Trump fanatic like Peter Dutton, and frankly as a Green, as a progressive, as a woman, I’m not prepared to see that happen.” Have something to say about this article? Write to us at letters@crikey.com.au . Please include your full name to be considered for publication in Crikey’s Your Say . We reserve the right to edit for length and clarity.
NEW YORK--(BUSINESS WIRE)--Nov 27, 2024-- Rosen Law Firm, a global investor rights law firm, announces that a shareholder filed a class action on behalf of all purchasers of common stock of Dentsply Sirona Inc. (NASDAQ: XRAY) between December 1, 2022 and November 6, 2024. Dentsply describes itself as a company that “manufactures professional dental products.” For more information, submit a form , email attorney Phillip Kim, or give us a call at 866-767-3653. The Allegations: Rosen Law Firm is Investigating the Allegations that Dentsply Sirona Inc. (NASDAQ: XRAY) Misled Investors Regarding its Business Operations. According to the lawsuit, during the Class Period, defendants made false and/or misleading statements and/or failed to disclose that: (1) Dentsply targeted low-income people who did not have access to good oral hygiene education, a dentist, or dental insurance, which often meant patients signing up for Byte, a direct-to-consumer (“DTC”) aligner solution, had underlying dental issues that would have made them ineligible for treatment; (2) the push for Byte growth and sales commissions caused sales employees to sell to contraindicated patients; (3) as a result of the above, the Byte patient onboarding workflow did not provide adequate assurance that contraindicated patients did not enter treatment; (4) before and during the Class Period, reports of Byte patient injuries were pouring in; (5) Dentsply knew that its Byte aligners were causing severe patient injuries for years but did little to investigate those injuries or notify the U.S. Food and Drug Administration (“FDA”); (6) Dentsply had no systems in place to notify the FDA of these injuries, which Dentsply is required to do within 30 days of learning of a problem; (7) the FDA had received a sharp uptick in reports of serious injuries from Byte patients; (8) as a result of the above, Dentsply materially overstated the goodwill value of Byte; and (9) as a result of the above, defendants’ positive statements about Dentsply’s business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages. What Now: You may be eligible to participate in the class action against Dentsply Sirona Inc. Shareholders who want to serve as lead plaintiff for the class must file their motions with the court by January 27, 2025. A lead plaintiff is a representative party who acts on behalf of other class members in directing the litigation. You do not have to participate in the case to be eligible for a recovery. If you choose to take no action, you can remain an absent class member. For more information, click here . All representation is on a contingency fee basis. Shareholders pay no fees or expenses. About Rosen Law Firm: Some law firms issuing releases about this matter do not actually litigate securities class actions. Rosen Law Firm does. Rosen Law Firm is a recognized leader in shareholder rights litigation, dedicated to helping shareholders recover losses, improving corporate governance structures, and holding company executives accountable for their wrongdoing. Since its inception, Rosen Law Firm has obtained over $1 billion for shareholders. Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm , on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm/ . Attorney Advertising. Prior results do not guarantee a similar outcome. View source version on businesswire.com : https://www.businesswire.com/news/home/20241127340039/en/ CONTACT: Laurence Rosen, Esq. Phillip Kim, Esq. The Rosen Law Firm, P.A. 275 Madison Avenue, 40th Floor New York, NY 10016 Tel: (212) 686-1060 Toll Free: (866) 767-3653 Fax: (212) 202-3827 case@rosenlegal.com www.rosenlegal.com KEYWORD: NEW YORK UNITED STATES NORTH AMERICA INDUSTRY KEYWORD: CLASS ACTION LAWSUIT PROFESSIONAL SERVICES LEGAL SOURCE: The Rosen Law Firm, P.A. Copyright Business Wire 2024. PUB: 11/27/2024 04:33 PM/DISC: 11/27/2024 04:31 PM http://www.businesswire.com/news/home/20241127340039/enMadhya Pradesh Schools Closed, Holiday Declared in Vijaypur over protest by Dalit group on Amit Shah Statement
Samsung Electronics' chip production line in Pyeongtaek, Gyeonggi Province / Courtesy of Samsung Electronics Broadcom's rise may provide new opportunity for chipmakers The outlook for fourth-quarter earnings at Samsung Electronics and SK hynix is clouded by a negative market environment, driven by sluggish demand for information technology (IT) devices, and falling prices for legacy DRAM chips. According to market tracker FnGuide, brokerages estimate Samsung Electronics' operating profit for the fourth quarter at 9.22 trillion won ($6.3 billion) as of Wednesday, a decrease of nearly 5 percent from 9.7 trillion won a month earlier. Throughout this month, local brokerages have been revising their estimates for Samsung’s operating profit, citing an oversupply of legacy memory chips due to sluggish demand for IT devices and undercutting by Chinese firms. “In (the) fourth quarter, the memory market faces challenges stemming from excessive inventory in the chips for PC and mobile devices, necessitating further price cuts to boost shipping volumes,” iM Securities analyst Song Myung-sub said, lowering his estimation for the company’s fourth-quarter operating profit to 8.3 trillion won from 9.9 trillion won. “Consequently, chances are high for Samsung's memory shipment volumes or average selling prices falling short of current market expectations.” According to DRAMeXchange, the average price of a DDR4 8GB 1Gx8 memory module, which is mostly used in PCs, dropped by 35.7 percent from $2.10 in July to $1.35 in November. Market observers attribute the price drop to undercutting by Chinese memory manufacturers, with companies like CXMT and JHICC supplying DDR4 8GB chips at prices between $0.75 and $1. The slowdown in the legacy DRAM business is impacting Samsung more significantly, as high-bandwidth memory (HBM) chips, which are in increasing demand for artificial intelligence (AI) processors, still account for only a small share of the company's earnings. “Samsung’s DRAM business is expected to underperform the market estimation because of delays in supplying HBM3e chips for Nvidia, CXMT’s undercutting and deteriorating supply and demand conditions for legacy DRAM chips,” Kiwoom Securities analyst Park Yoo-ak said. SK Group Chairman Chey Tae-won, left, listens to an official at SK hynix's high-bandwidth memory chip production line in Icheon, Gyeonggi Province, Aug. 5. Courtesy of SK Group Although the situation is slightly better for SK hynix, which now stands as the world’s top supplier of HBM, the market is also lowering its estimation for the company’s fourth-quarter earnings due to the sluggish legacy chip market. The market consensus for SK hynix’s fourth-quarter earnings was 8.05 trillion won as of Wednesday, down 1.2 percent from 8.15 trillion won a month earlier. “Samsung Electronics and SK hynix will be able to rebound after showcasing sluggish performances in the fourth quarter of this year,” DAOL Investment & Securities analyst Ko Young-min said. The market expects that the two chipmakers will accelerate their transition efforts toward HBM to cope with the growing demand for AI processors. Speculation is also rising that U.S.-based Broadcom is turning to the two Korean firms to secure HBM4, which will be produced starting next year, for its AI application-specific integrated circuits (ASIC). The Korea Economic Daily reported earlier this week that SK hynix received Broadcom’s request for HBM4 and has begun developing the prototype. Samsung Electronics also initiated discussions with Broadcom over HBM4 supplies. Given that Nvidia has already secured most of the HBM chips that SK hynix will produce next year, industry officials expect that Samsung may cover orders from Broadcom. While graphics processing units, or GPUs, like those used in Nvidia’s AI processors, offer more versatility for general computing, ASICs are more efficient for specialized tasks and are typically priced lower than GPUs. To remove this article -
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Fortis Inc. stock rises Wednesday, still underperforms marketMr Biden told African leaders the resource-rich continent of more than 1.4 billion people had been “left behind for much too long”. “But not anymore,” Mr Biden added. “Africa is the future.” Mr Biden used the third and final day of a visit to Angola – his long-awaited, first trip to sub-Saharan Africa as president – to travel to the coastal city of Lobito and tour an Atlantic port terminal that’s part of the Lobito Corridor railway redevelopment. Mr Biden described it as the largest US investment in a train project outside America. The US and allies are investing heavily in the project that will refurbish nearly 1,200 miles of train lines connecting to the mineral-rich areas of Congo and Zambia in central Africa. The corridor, which likely will take years to complete, gives the US better access to cobalt, copper and other critical minerals in Congo and Zambia that are used in batteries for electric vehicles, electronic devices and clean energy technologies that Mr Biden said would power the future. China is dominant in mining in Congo and Zambia. The US investment has strategic implications for US-China economic competition, which went up a notch this week as they traded blows over access to key materials and technologies. The African leaders who met with Mr Biden on Wednesday said the railway corridor offered their countries a much faster route for minerals and goods – and a convenient outlet to Western markets. “This is a project that is full of hope for our countries and our region,” said Congo President Felix Tshisekedi, whose country has more than 70% of the word’s cobalt. “This is not just a logistical project. It is a driving force for economic and social transformation for millions of our people.” The leaders said the corridor should spur private-sector investment and improve a myriad of related areas like roads, communication networks, agriculture and clean energy technologies. For the African countries, it could create a wave of new jobs for a burgeoning young population. Cargo that once took 45 days to get to the US – usually involving trucks via South Africa – would now take around 45 hours, Mr Biden said. He predicted the project could transform the region from a food importer to exporter. It’s “something that if done right will outlast all of us and keep delivering for our people for generations to come,” he said. The announcement of an additional $600 million took the U.S.’s investment in the Lobito Corridor to 4.0 billion dollars (£3.15 billion).