Selection Sunday is still more than 13 weeks away and, unlike in college football, a handful of early losses can’t squash the highest hopes of college basketball teams. Still, on just the 14th of December, the Arizona Wildcats might be playing something of a must-win game against No. 24 UCLA in Phoenix. A win would be the Wildcats’ first over a power-conference team this season, sending them on a course to finish the nonconference season at 7-4 and possibly return them into Top 25 consideration. A loss moves the Wildcats (4-4) back under .500 and, even with wins over Samford and Central Michigan in their final nonconference games, means they’re just 6-5 heading into the potentially brutal Big 12 schedule. Then, even with a respectable 12 or 13 wins between Big 12 regular-season and tournament play, the Wildcats could still land below the 20-win mark and likely in NCAA Tournament bubble territory. Actually, ESPN’s Bracketology has already put them there, listing UA earlier this week as the “first team out” in its first forecast of NCAA Tournament selections. It’s not hard to do the math. But, in one sense, the Wildcats don’t need to. They already consider their house on fire. “When you’re 4-4 at Arizona, you need every win,” longtime UA associate head coach Jack Murphy said. “I mean, c’mon. We’re 4-4 at Arizona. That’s not where we want to be. No one in the program. We’re looking at every game.” During his weekly media gathering Thursday, UA coach Tommy Lloyd said he still would consider Saturday’s game just as important if the Wildcats were 8-0 or 7-1, and that there will be plenty of opportunities ahead to redeem themselves. But he also described a sense of urgency. “We’re at where we’re at. We’re at where we’re at,” Lloyd said. “The only way to improve our situation is to try to come out and play good on Saturday. We just can’t get any further ahead than that because that’s all that matters. “I wish I could sit here and guarantee how it’s going to go, but that’s sports. I can’t. Hopefully our guys have a grit, a toughness, about them to try to find a way to play well in this game because I know it’s not going to be easy.” Arizona Wildcats head coach Tommy Lloyd expresses disbelief over a referee call in the second half during a game at McKale Center on Nov. 22, 2024. Duke won 69-55. Revived with four new starters out of the transfer portal, UCLA has reverted to the sort of high-level defensive team under coach Mick Cronin that will test how tough they are. The Bruins have the nation’s fourth-most efficient defense and force more turnovers than anybody in college basketball. They have ball-denying wing veterans in Kobe Johnson and Skyy Clark, a versatile skilled big man in Tyler Bilodeau and Cronin’s constant defensive focus lit under all of them. “They’ve got some new pieces but they didn’t just clean house either,” Lloyd said. “A lot of their guys are back and established in their program. They continue to get better and have a conviction to what they do.” Lloyd said the Bruins “didn’t have a UCLA type of year” last season, when they went just 16-17 and exited the Pac-12 Tournament in the quarterfinals, while Cronin drew a slight comparison from that team to what the Wildcats are going through now. “Obviously they’ve had a changing of the guard, so to speak,” Cronin said. Lloyd had Oumar “Ballo and (Pelle) Larsson, two guys who were unbelievable, especially Larsson. So they’ve had a lot of change in their personnel... (and) I just think they played a really hard schedule for a team (that has to) incorporate so many new pieces.” Among other possible cures, Lloyd said Thursday he wanted point guard Jaden Bradley to keep pushing a faster pace – “I don’t think I’ve ever had a one-guard that I’ve coached that I’ve said he’s pushed it too much,” Lloyd said – and that wing Caleb Love needed to give a more consistent effort. Arizona guard Jaden Bradley, left, bounces off UCLA guard Lazar Stefanovic in a January 2024 game at McKale Center. The Wildcats and Bruins will meet in three nonconference games in upcoming years, in part to help raise money for NIL for both schools. “Will you run hard when you don’t think you’re going to get the ball? Are you in the moment playing hard or are you relaxing because you don’t think you’re part of the play when you’re on the weak side glass?” Lloyd said. “Does it matter to you? Are you engaged enough to understand that ... you’re vital in our team’s rebounding? “Those are the areas I’m focusing on with Caleb, because I think once we can establish that — and he has done it in times in this program — I think it’s going to bleed over into the other areas of the game.” But at the same time, Lloyd said it wasn’t about challenging any one player, as it has been sometimes in the past, but about challenging everyone. The Wildcats are 4-4, after all. That’s a message all of them should have heard pretty clearly by now. “I think if you just start focusing on one guy, you might be missing the bigger picture,” Lloyd said. “I think everybody needs to give more. I think everybody needs to play with a little more awareness. I think everybody needs to play with a little more swag and confidence. “So I don’t have a one guy for you. The message right now is, it’s everybody. It needs to be a total team effort.” Love, for one, said he’s in. Arizona Wildcats guard Caleb Love (1) attempts to charge through Thunderbirds center Malik Lamin (32) during the match against Southern Utah, McKale Center, Dec. 7, 2024. “This is another opportunity that we have in front of us,” he said. “We’ve been preparing all week and my teammates, the coaches, managers – everybody – we’ve all been locked in.” Who: Arizona (4-4) vs. UCLA (7-1) When: 1 p.m. Where: Footprint Center, Phoenix Watch: ESPN2 Listen: 1290-AM, 107.5-FM Contact sports reporter Bruce Pascoe at bpascoe@tucson.com . On X(Twitter): @brucepascoe Respond: Write a letter to the editor | Write a guest opinion Subscribe to stay connected to Tucson. A subscription helps you access more of the local stories that keep you connected to the community. Be the first to know Get local news delivered to your inbox! ReporterTAMPA, Fla.--(BUSINESS WIRE)--Dec 5, 2024-- STELLATM Automotive AI, Inc. (“STELLA”), a provider of automotive artificial intelligence technology, announced a new round of convertible loan financing, which raised $11 million to drive market growth, continue to build its team and support ongoing product enhancement and development. The raise was led by existing investor and strategic partner Reynolds and Reynolds with participation from other existing strategic investors, including more than 15 large private automotive dealership groups, as well as new investors Sheehy Auto Stores and Butler Automotive Group. The Presidio Group acted as exclusive financial advisor to STELLA for the convertible loan financing. “The ongoing support from our original investors has been tremendous, and we appreciate their confidence in STELLA’s AI technology,” said STELLA CEO Rich Sands. “The market’s embrace of our technology has been robust, and this funding will help STELLA deliver our innovative products that improve operational efficiency and the customer experience to more dealerships. We expect STELLA’s rapid customer and revenue growth to continue over the next year.” STELLA plans to use the capital raised to accelerate the onboarding of dealership clients; expand its team, including in leadership; advance product development; and introduce enhanced features to its suite of AI tools. STELLA’s technology helps dealerships solve longtime industry pain points around engaging with customers in a timely and helpful fashion. STELLA’s AI assistant can simultaneously handle unlimited inbound calls as it engages in natural language conversations 24/7 to deliver a world-class customer experience. The STELLA assistant is expertly trained on a wide range of automotive retail topics and can personalize the customer engagement process when booking service appointments, leading to higher customer retention and lower operating costs for dealerships. STELLA’s products integrate with existing dealership software offered by companies like Reynolds, a longtime leading provider of the full Retail Management System for auto retailers. The financing round underscores the intense interest that auto dealers and auto retail technology companies have in the potential for artificial intelligence to transform the industry and the customer experience. “We continue to invest heavily in artificial intelligence through both development and strategic partnerships,” said Chris Walsh, president of Reynolds. “The technology STELLA delivers creates huge efficiency gains for dealers, and when paired with Reynolds Spark AI unified data layer, the results increase exponentially.” Enthusiastic strategic investors like Reynolds and the many dealership groups backing STELLA provide a framework for real-time feedback to support quick product enhancement. Their interest also demonstrates the power that AI software holds for automotive retailing more broadly. “Presidio has seen the interest in AI solutions for the auto retail ecosystem skyrocket over the last year,” said Presidio CEO Brodie Cobb. “There is huge potential for AI tools to improve dealership efficiency and profitability and to make the sales and service experience for customers smoother and more painless. STELLA’s innovative technology is beginning to deliver on the promise artificial intelligence holds for the industry.” About The Presidio Group The Presidio Group (“Presidio”) was founded in 1998 with the simple mission to relentlessly put the interests of our clients first. By steadfastly adhering to this philosophy, the firm has earned the trust of clients throughout the United States. During their careers, the professionals at Presidio have collectively done more than 280 transactions totaling more than $18.5 billion. The Presidio Group is based in Denver and Atlanta. Presidio Merchant Partners LLC is a subsidiary of The Presidio Group LLC and is a member of FINRA and SIPC. For more information on Presidio, visit www.thepresidiogroup.com . About STELLA STELLATM Automotive AI, Inc. (“STELLA”) is the leading provider of automotive AI technology. STELLA, based in Tampa, Fla., helps auto dealers deliver a complete and intelligent customer experience via telephone, chat and web. STELLA’s digital assistant behaves like a staff member to complete repetitive tasks such as answering and routing phone calls, booking appointments and answering frequently asked questions about vehicle sales and service. STELLA sits on top of legacy software infrastructure and reports analytic information about customer behavior to the dealer. Dealership groups are adding STELLA to their stores every week with tens of thousands of customer calls being handled 24 hours a day, seven days a week. Learn more about STELLA at www.stellaautomotive.com . View source version on businesswire.com : https://www.businesswire.com/news/home/20241205555844/en/ CONTACT: The Presidio Group Keith Style Managing director kstyle@thepresidiogroup.com 678-831-5523 www.thepresidiogroup.comSTELLA Shelli Clark Director of marketing shelli.clark@stellaautomotive.com (913) 485-2145 KEYWORD: FLORIDA UNITED STATES NORTH AMERICA INDUSTRY KEYWORD: SOFTWARE DATA ANALYTICS AUTOMOTIVE ARTIFICIAL INTELLIGENCE PROFESSIONAL SERVICES TECHNOLOGY GENERAL AUTOMOTIVE VEHICLE TECHNOLOGY SOURCE: The Presidio Group Copyright Business Wire 2024. PUB: 12/05/2024 03:24 PM/DISC: 12/05/2024 03:24 PM http://www.businesswire.com/news/home/20241205555844/en
AP News Summary at 5:40 p.m. ESTMaker's mark: from farm gate to the front door
Clayton scores 34 as Ohio knocks off Portland 85-73
Flagg's growth, Broome's consistency show in matchup of AP All-AmericansBy KAITLYN HUAMANI The commencement of the holiday season often means the lengthening of to-do lists. There are lights to hang, cards to mail , cookies to bake and, of course, gifts to buy . Gift exchanges, whether they’re among friends, family or co-workers, can be a fun way to get in the holiday spirit. But can also be another stressor during a busy time of year. Secret Santa exchanges — where participants are assigned a gift recipient and tasked with finding them a perfect present within a price limit — sometimes mean that those in friend groups are paired with “frenemies,” someone inevitably draws themselves, or colleagues who are virtually strangers are matched up. Those possible pitfalls inspired Peter Imburg to create Elfster , a free online Secret Santa organizer, after he saw the time and effort it took to coordinate the logistics of a gift exchange with his family over 20 years ago. More top-down organization, he says, helps things run more smoothly. Say goodbye to picking names from a hat Elfster, for instance, creates pairings, asks for wish lists, offers gift suggestions at different price points and sends reminders, among other features meant to make the organizational hurdles of a gift exchange less daunting. “The organizer is like the hero. They make it all happen,” Imburg said, adding that his site aims “to make it a lot easier for the organizer to do that with a minimal amount of effort.” Reliable gift ideas Cameron Rogers, a New Jersey-based social media content creator and podcast host on wellness and motherhood, understands the stress that gift exchanges can bring up. “Having to give generic gifts to people I’m not necessarily close with is extremely difficult,” Rogers said. “I can pick a good gift for my husband or my kids or my mom, but for people who I don’t know the ins and outs of their lives, I think it’s hard to pick something that you know they’re actually going to enjoy.” Related Articles Health | Does the approach to treating opioid addiction need a radical overhaul? Health | Rural areas experience the brunt of healthcare system deficiencies. Are there solutions? Health | Nursing homes fell behind on vaccinating patients for COVID Health | A twice-yearly shot could help end AIDS. But will it get to everyone who needs it? Health | States poised to end coverage for millions if Trump cuts Medicaid funding She recently shared a guide to Secret Santa gifts under $50 on her social media channels, emphasizing how challenging it can be to find something within a set price range that will be well-received. Gifts with a specific purpose — kitchen gadgets, home items or winter gear — and gifts that have a personalized aspect like a monogram are good go-to options for anyone feeling lost after receiving their Secret Santa assignment, she said. Imburg said the “gift gurus” at Elfster also have suggestions, especially for recipients who aren’t offering any clues as to what they’d like. In a similar vein as Rogers, the Elfster team offered ideas for some practical gifts, like water bottles, blankets and massage guns. Other no-nonsense home and kitchen items, like food storage containers, charging stations and more are featured on the site’s “Top Trending Gift Ideas for 2024” list. Gift cards, although they are not particularly glamorous, are an essentially foolproof option, Rogers said, and they won’t leave your recipient wondering where they’ll find room on their shelf for another mug or book. “I don’t want to give someone something solely to check a box,” Rogers said. “I want them to enjoy it, instead of being like, ‘What do I do with this now?’” Embrace Secret Santa as a stress reliever, instead Some gift-givers find that Secret Santa (and its many counterparts like White Elephant and Yankee Swap) actually cuts down on stress and spending, as it’s often done in place of giving individual presents to each member of a group. Nicole Troiano of Cranston, Rhode Island, finds them to be a fun way to handle holidays with large groups — even if co-workers may need to ask around to get specifics on their assigned person. “It’s fun to do it that way and think about something that would be good for that person,” she said. “And then, when they open it, they’re like, ‘Oh my God!’” By the weekend after Thanksgiving, Troiano had already purchased and wrapped her gift for the exchange she’s taking part in this year. After her swap, a lucky participant will be the new owner of a cutting board, two bottles of wine wearing bottle-size ugly sweaters, and gourmet chocolates.
UConn head coach Dan Hurley insists he's not overvaluing Wednesday night's game between his 25th-ranked Huskies and No. 15 Baylor in Storrs, Conn. Sure, it comes on the heels of the two-time reigning national champion Huskies (5-3) responding to losing all three games during the Maui Invitational with a blowout victory over Maryland Eastern Shore on Saturday. UConn, which had won 17 consecutive games entering the Maui tournament, fell 23 spots from No. 2 to nearly out of the Associated Press Top 25 poll released Monday. "I think it's such a long season and we're eight games in," Hurley said when asked about facing the Bears. "Our performance in Maui shocked the college basketball world and the sports world, and obviously a lot went on there." "I don't think it's a must-win game in Game Nine of the season, but it's an opportunity to play in Gampel (Pavilion), where we play great and are very comfortable, and we know we're gonna have a great crowd." "We also know we're playing a top-level team, so it's a big game for us and it's a big game for them." Wednesday's game signifies the start of a tough stretch in UConn's schedule. The Huskies will visit Texas on Sunday and challenge No. 7 Gonzaga in New York on Dec. 14 before beginning Big East play on Dec. 18 against Xavier, which fell from No. 22 to out of the poll on Monday. But let's go back to Saturday's 99-45 dismantling of the Hawks. Jaylin Stewart started in place of the injured Alex Karaban (head) and joined Liam McNeeley by scoring 16 points to put UConn back in the win column. Solo Ball contributed 12 points, Aidan Mahaney had 11 and Tarris Reed Jr. (10 points, 12 rebounds) and Jayden Ross (10 points, 10 rebounds) each recorded a double-double. "This experience they're getting, (Stewart), Jayden Ross, Solo Ball, these guys are going to keep getting better and better," Hurley said. "Jaylin Stewart has flashed. That Memphis game (in which he scored 16 points on 7-of-9 shooting), he flashed a lot in that one. "... These sophomores are just going to keep getting better and better. That's why I do think we do need the grace and support of our people here at UConn. Because they're going to be such different players in January and February." Coming off a split in the Bahamas, Baylor (5-2) bounced back from a 77-62 setback to then-No. 11 Tennessee on Nov. 22 with a decisive 91-60 victory over New Orleans last Wednesday. "I know we're all a little tired," Bears coach Scott Drew said. "Whenever you come back from the Bahamas and a trip like that, the first game, you can be playing in mud. And I think the guys did a pretty good job, for the most part." Jayden Nunn drained six of his seven 3-pointers in the first half and finished with a season-high 23 points to power Baylor past the Privateers. Robert Wright III scored 18 points, Jeremy Roach had 17 and Miami transfer Norchad Omier recorded his third consecutive double-double after finishing with 12 points and a season-high 13 rebounds. --Field Level Media
Buckingham Palace maid ARRESTED for assault after staff Xmas party descends into boozy brawl in All Bar One
Nearly half of American teenagers say they are online “constantly” despite concerns about the effects of social media and smartphones on their mental health, according to a new report published Thursday by the Pew Research Center. As in past years, YouTube was the single most popular platform teenagers used — 90% said they watched videos on the site, down slightly from 95% in 2022. Nearly three-quarters said they visit YouTube every day. There was a slight downward trend in several popular apps teens used. For instance, 63% of teens said they used TikTok, down from 67% and Snapchat slipped to 55% from 59%. This small decline could be due to pandemic-era restrictions easing up and kids having more time to see friends in person, but it's not enough to be truly meaningful . X saw the biggest decline among teenage users. Only 17% of teenagers said they use X, down from 23% in 2022, the year Elon Musk bought the platform. Reddit held steady at 14%. About 6% of teenagers said they use Threads, Meta's answer to X that launched in 2023. The report comes as countries around the world are grappling with how to handle the effects of social media on young people's well-being. Australia recently passed a law banning kids under 16 from social networks, though it's unclear how it will be able to enforce the age limit — and whether it will come with unintended consequences such as isolating vulnerable kids from their peers. Meta's messaging service WhatsApp was a rare exception in that it saw the number of teenage users increase, to 23% from 17% in 2022. Pew also asked kids how often they use various online platforms. Small but significant numbers said they are on them “almost constantly.” For YouTube, 15% reported constant use, for TikTok, 16% and for Snapchat, 13%. As in previous surveys, girls were more likely to use TikTok almost constantly while boys gravitated to YouTube. There was no meaningful gender difference in the use of Snapchat, Instagram and Facebook. Roughly a quarter of Black and Hispanic teens said they visit TikTok almost constantly, compared with just 8% of white teenagers. The report was based on a survey of 1,391 U.S. teens ages 13 to 17 conducted from Sept. 18 to Oct. 10, 2024.NATO and Ukraine to hold emergency talks after Russia's attack with new hypersonic missile
Saquon Barkley on pace to set Eagles rushing record against Panthers, eyes Dickerson's NFL recordPLANO, Texas--(BUSINESS WIRE)--Dec 12, 2024-- Upbound Group, Inc. (“Upbound” or the “Company”) (NASDAQ: UPBD), a technology and data-driven leader in accessible and inclusive financial products that address the evolving needs and aspirations of underserved consumers, today announced it has entered into a definitive agreement to acquire Brigit, a leading financial health technology company, for total consideration of up to $460 million consisting of cash and shares of Upbound common stock. This transaction is a logical next step reflecting Upbound’s strategic focus on expanding its technology-driven financial solutions for consumers who are underserved by the traditional financial system. Brigit, which offers a subscription-based model, was launched nationally in 2019 to expand financial inclusion and help consumers build a brighter financial future. It is consistently ranked among the most downloaded financial health apps and is a recognized leader in innovation in the industry. Built on proprietary artificial intelligence and machine learning-powered cash flow data insights, Brigit’s core product is its direct-to-consumer Instant Cash advance product (earned wage access or EWA) which has saved its users approximately $1 billion in overdraft fees since inception 2. Brigit also offers a credit builder product that helps its subscribers build their credit history over time as they increase their savings, as well as financial wellness solutions and educational resources to help consumers better manage, save, and earn money. Brigit currently serves nearly two million monthly active customers, including over one million active paying subscribers and almost one million free subscribers. Their customers are highly engaged, with paid users logging in on average six times per month. The business is expected to generate revenues of approximately $215 million to $230 million in 2025 and approximately $350 million to $400 million in 2026. Brigit will expand Upbound’s offerings of innovative and flexible financial solutions, positioning the combined company to create an industry-leading technology platform for the financially underserved that meets the consumer wherever they are on their financial journey. In addition, Brigit’s proprietary data and sophisticated tech stack are expected to enhance Upbound’s existing brands, including Acima and Rent-A-Center (RAC), by improving risk management and fraud prevention, enabling more customer approvals while also mitigating net losses and enhancing account management. The combined company’s data-driven insights will create a more personalized customer experience with the ability to deliver, at the right time and through the right channels, a wider range of targeted solutions for consumers. Upbound expects these enhancements to boost conversion rates, lower churn, and increase customer loyalty and engagement. “We are thrilled to welcome Brigit, a company whose mission and target customer base are closely aligned with ours, into our family of brands,” said Upbound’s Chief Executive Officer Mitch Fadel. “Creating a financial solutions platform with Brigit as the backbone expands our addressable market and enables Upbound to innovate across even more product categories to improve the financial health of our customers. The ability to add new products for our customers beyond lease-to-own is an important part of our strategy and now we can offer liquidity solutions, budgeting, credit building, financial literacy and savings. We believe this transaction will position Upbound for accelerated growth, with greater scale and a more diversified financial profile, ultimately driving long-term value for our shareholders.” “Brigit has helped everyday Americans build a brighter financial future through a suite of innovative financial products that leverage cutting-edge cash flow technology,” said Brigit cofounder & CEO Zuben Mathews. “This transaction is a testament to our team’s continued passion for helping the underserved and our dedication to innovation. By combining forces with Upbound, we can accelerate our impact and better serve the millions of Americans who have been historically underserved by traditional financial institutions. Together, we are excited to widen our reach and bring financial freedom to even more people in need.” Brigit founders Zuben Mathews and Hamel Kothari will continue to lead the Brigit team as a business segment of Upbound. Brigit will continue to operate under its existing branding and will retain its headquarters in New York City, which is expected to serve as one of Upbound’s innovation hubs. Transaction Details Upbound is acquiring Brigit for up to $460 million, comprised of (1) $325 million payable at closing, 75% in cash and 25% in Upbound shares; (2) $75 million in deferred cash consideration over two years; and (3) a potential earnout of up to $60 million in cash based on achievement of certain financial performance metrics for the Brigit business in 2026. Upbound will fund the transaction through a combination of cash on hand, borrowing capacity under its $550 million revolving credit facility, and issuance of new shares of Upbound common stock to Brigit stockholders. The integration of Brigit’s all-digital, scalable platform is expected to expand Upbound’s addressable market outside of durable goods and enhance its strong financial profile while adding an additional complementary growth segment. With approximately 80% recurring subscription revenue, and an estimated total revenue growth in 2024 of 40% to 50% compared to 2023 with similar expectations in 2025, Upbound believes the transaction will accelerate its growth and is expected to be neutral to non-GAAP EPS in year one and meaningfully accretive to non-GAAP EPS in year two and beyond. Brigit will diversify Upbound’s revenue/Adjusted EBITDA mix; within the next four years, Upbound expects approximately two-thirds of revenue and Adjusted EBITDA 3 will be derived from virtual and digital platforms. Following the transaction, Upbound expects pro forma net leverage ratio of approximately 3x 4 and pro forma available liquidity of nearly $300 million 5. Upbound continues to target leverage of approximately 2x over the long-term. The acquisition is expected to close in Q1 2025, subject to receipt of requisite regulatory approvals and satisfaction of other customary closing conditions. Advisors Greenhill & Co. Inc. is acting as financial advisor to Upbound, Sullivan & Cromwell LLP and Mayer Brown LLP are acting as its legal counsel. FT Partners is acting as financial advisor to Brigit and Cooley LLP and Morgan Lewis & Bockius LLP are acting as its legal counsel. Investor Conference Call Details Upbound will host a conference call on Friday, December 13, 2024, at 9:00 am (ET) to discuss this transaction. Interested parties can access a live webcast of the conference call via this link or through the Company's investor relations website. About Upbound Group, Inc. Upbound Group, Inc. (NASDAQ: UPBD), is a technology and data-driven leader in accessible and inclusive financial products that address the evolving needs and aspirations of underserved consumers. The Company’s customer-facing operating units include industry-leading brands such as Rent-A-Center® and Acima® that facilitate consumer transactions across a wide range of store-based and digital retail channels, including over 2,300 company branded retail units across the United States, Mexico and Puerto Rico. Upbound Group, Inc. is headquartered in Plano, Texas. For additional information about the Company, please visit our website Upbound.com . About Brigit Brigit is a holistic financial health app that has helped millions of Americans budget better, get their earned wages early, build their credit through savings, protect themselves from identity theft, and find ways to earn and save money. Its mission is to help everyday Americans build a better financial future. Brigit is backed by Lightspeed, DCM, Nyca, Flourish Ventures, Hummingbird VC, DN Capital, Will Smith, Kevin Durant, and other prominent investors. Cautionary Note Regarding Forward-Looking Statements This press release and the associated investor presentation and webcast contain forward-looking statements that involve risks and uncertainties. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. Such forward-looking statements generally can be identified by the use of forward-looking terminology such as "may," "will," "expect," "intend," "could," "estimate," "predict," "continue," "should," "anticipate," "believe," or “confident,” or the negative thereof or variations thereon or similar terminology and include, among others, statements concerning (a) the anticipated benefits of the proposed transaction, (b) the anticipated impact of the proposed transaction on the combined company’s business and future financial and operating results, (c) the anticipated closing date for the proposed transaction, (d) other aspects of both companies’ operations and operating results, and (e) our goals, plans and projections with respect to our operations, financial position and business strategy. However, there can be no assurance that such expectations will occur. The Company's actual future performance could differ materially and adversely from such statements. Factors that could cause or contribute to such material and adverse differences include, but are not limited to: (1) risks relating to the proposed transaction, including (i) the inability to obtain regulatory approvals required to consummate the transaction with Brigit on the terms expected, at all or in a timely manner, (ii) the impact of the additional debt on the Company’s leverage ratio, interest expense and other business and financial impacts and restrictions due to the additional debt, (iii) the failure of conditions to closing the transaction and the ability of the parties to consummate the proposed transaction on a timely basis or at all, (iv) the failure of the transaction to deliver the estimated value and benefits expected by the Company, (v) the incurrence of unexpected future costs, liabilities or obligations as a result of the transaction, (vi) the effect of the announcement of the transaction on the ability of the Company or Brigit to retain and hire necessary personnel and maintain relationships with material commercial counterparties, consumers and others with whom the Company and Brigit do business, (vii) the ability of the Company to successfully integrate Brigit’s operations over time, (viii) the ability of the Company to successfully implement its plans, forecasts and other expectations with respect to Brigit’s business after the closing and (ix) other risks and uncertainties inherent in a transaction of this size and nature, (2) the general strength of the economy and other economic conditions affecting consumer preferences, demand, payment behaviors and spending; (3) factors affecting the disposable income available to the Company's and Brigit’s current and potential customers; (4) the appeal of the Company’s and Brigit’s offerings to consumers; (5) the Company's and Brigit’s ability to protect their proprietary intellectual property; (6) the impact of the competitive environment in the Company’s and Brigit’s industries; (7) the Company's and Brigit’s ability to identify and successfully market products and services that appeal to their current and future targeted customer segments; (8) consumer preferences and perceptions of the Company's and Brigit’s brands; (9) the Company’s and Brigit’s compliance with applicable laws and regulations and the impact of active enforcement of those laws and regulations, including any changes with respect thereto or attempts to recharacterize their offerings as credit sales, (10) information technology and data security costs; (11) the impact of any breaches in data security or other disturbances to the Company's or Brigit’s information technology and other networks and the Company's and Brigit’s ability to protect the integrity and security of individually identifiable data of its customers and employees; and (12) the other risks detailed from time to time in the Company's SEC reports, including but not limited to, its Annual Report on Form 10-K for the year ended December 31, 2023 and in its subsequent Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Except as required by law, the Company is not obligated to publicly release any revisions to these forward-looking statements to reflect the events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. Non-GAAP Financial Measures This release and the associated investor presentation and webcast contain certain financial information determined by methods other than in accordance with U.S. Generally Accepted Accounting Principles (GAAP), including (1) Adjusted EBITDA (net earnings before interest, taxes, stock-based compensation, depreciation and amortization, as adjusted for special items) on a consolidated and segment basis and (2) Net Leverage Ratio (total debt less unrestricted cash, divided by Adjusted EBITDA). “Special items” refers to certain gains and charges we view as extraordinary, unusual or non-recurring in nature or which we believe do not reflect our core business activities. Special items are reported as Other Gains and Charges in our Consolidated Statements of Operations. Because of the inherent uncertainty related to these special items, management does not believe it is able to provide a meaningful forecast of the comparable GAAP measures or reconciliation to any forecasted GAAP measure without unreasonable effort. These non-GAAP measures are additional tools intended to assist our management in comparing our performance on a more consistent basis for purposes of business decision-making by removing the impact of certain items management believes do not directly reflect our core operations. These measures are intended to assist management in evaluating operating performance and liquidity, comparing performance and liquidity across periods, planning and forecasting future business operations, helping determine levels of operating and capital investments and identifying and assessing additional trends potentially impacting our Company that may not be shown solely by comparisons of GAAP measures. Consolidated Adjusted EBITDA is also used as part of our incentive compensation program for our executive officers and others. We believe these non-GAAP financial measures also provide supplemental information that is useful to investors, analysts and other external users of our consolidated financial statements in understanding our financial results and evaluating our performance and liquidity from period to period. However, non-GAAP financial measures have inherent limitations and are not substitutes for, or superior to, GAAP financial measures, and they should be read together with our consolidated financial statements prepared in accordance with GAAP. Further, because non-GAAP financial measures are not standardized, it may not be possible to compare such measures to the non-GAAP financial measures presented by other companies, even if they have the same or similar names. ______________________________ 1 Non-GAAP Financial Measure. See descriptions below in this release. Due to the inherent uncertainty related to the special items discussed under “Non-GAAP Financial Measures” below, management does not believe it is able to provide a meaningful forecast of the comparable GAAP measure or reconciliation to any forecasted GAAP measure without unreasonable effort. 2 Assumes all Brigit’s cash advances since inception have assisted customers with avoiding overdraft fees at an estimated $34/overdraft. 3 Non-GAAP Financial Measure. See descriptions below in this release. Due to the inherent uncertainty related to the special items discussed under “Non-GAAP Financial Measures” below, management does not believe it is able to provide a meaningful forecast of the comparable GAAP measure or reconciliation to any forecasted GAAP measure without unreasonable effort. 4 Non-GAAP Financial Measure. See descriptions below in this release. Due to the inherent uncertainty related to the special items discussed under “Non-GAAP Financial Measures” below, management does not believe it is able to provide a meaningful forecast of the comparable GAAP measure or reconciliation to any forecasted GAAP measure without unreasonable effort. 5 Pro forma net leverage ratio (total debt less unrestricted cash, divided by Adjusted EBITDA) and pro forma available liquidity (estimated available borrowings under the company’s revolving credit facility and unrestricted cash) assume the acquisition of Brigit is completed March 31, 2025 and the Company makes the closing date cash payment at that time. Above metrics reflect the Company’s estimates and are not reflective of actual amounts or indicative of future results. View source version on businesswire.com : https://www.businesswire.com/news/home/20241212082702/en/ CONTACT: Investor Contact Jeff Chesnut SVP, Strategy & Corporate Development 972-801-1108 jeff.chesnut@upbound.comMedia Contacts Kelly Kimberly 713-822-7538 Kelly.kimberly@fgsglobal.com Leah Polito 212-687-8080 Leah.polito@fgsglobal.com KEYWORD: TEXAS UNITED STATES NORTH AMERICA INDUSTRY KEYWORD: APPS/APPLICATIONS TECHNOLOGY FINANCE FINTECH HEALTH TECHNOLOGY PROFESSIONAL SERVICES SOFTWARE HEALTH DATA MANAGEMENT SOURCE: Upbound Group, Inc. Copyright Business Wire 2024. PUB: 12/12/2024 05:00 PM/DISC: 12/12/2024 05:00 PM http://www.businesswire.com/news/home/20241212082702/en
NEW YORK (AP) — Technology stocks pulled Wall Street to another record amid a mixed Monday of trading. The S&P 500 rose 0.2% from its all-time high set on Friday to post a record for the 54th time this year. The Dow Jones Industrial Average fell 128 points, or 0.3%, while the Nasdaq composite gained 1%. Super Micro Computer, a stock that’s been on an AI-driven roller coaster, soared 28.7% to lead the market. Following allegations of misconduct and the resignation of its public auditor , the maker of servers used in artificial-intelligence technology said an investigation found no evidence of misconduct by its management or by the company’s board. It also said that it doesn’t expect to restate its past financials and that it will find a new chief financial officer, appoint a general counsel and make other moves to strengthen its governance. Big Tech stocks also helped prop up the market. Gains of 1.8% for Microsoft and 3.2% for Meta Platforms were the two strongest forces pushing upward on the S&P 500. Intel was another propellant during the morning, but it lost an early gain to fall 0.5% after the chip company said CEO Pat Gelsinger has retired and stepped down from the board. Intel is looking for Gelsinger’s replacement, and its chair said it’s “committed to restoring investor confidence.” Intel recently lost its spot in the Dow Jones Industrial Average to Nvidia, which has skyrocketed in Wall Street’s frenzy around AI. Stellantis, meanwhile, skidded following the announcement of its CEO’s departure . Carlos Tavares steps down after nearly four years in the top spot of the automaker, which owns car brands like Jeep, Citroën and Ram, amid an ongoing struggle with slumping sales and an inventory backlog at dealerships. The world’s fourth-largest automaker’s stock fell 6.3% in Milan. The majority of stocks in the S&P 500 likewise fell, including California utility PG&E. It dropped 5% after saying it would sell $2.4 billion of stock and preferred shares to raise cash. Retailers were mixed amid what’s expected to be the best Cyber Monday on record and coming off Black Friday . Target, which recently gave a forecast for the holiday season that left investors discouraged , fell 1.2%. Walmart , which gave a more optimistic forecast, rose 0.2%. Amazon, which looks to benefit from online sales from Cyber Monday, climbed 1.4%. All told, the S&P 500 added 14.77 points to 6,047.15. The Dow fell 128.65 to 44,782.00, and the Nasdaq composite climbed 185.78 to 19,403.95. The stock market largely took Donald Trump’s latest threat on tariffs in stride. The president-elect on Saturday threatened 100% tariffs against a group of developing economies if they act to undermine the U.S. dollar. Trump said he wants the group, headlined by Brazil, Russia, India and China, to promise it won’t create a new currency or otherwise try to undercut the U.S. dollar. The dollar has long been the currency of choice for global trade. Speculation has also been around a long time that other currencies could knock it off its mantle, but no contender has come close. The U.S. dollar’s value rose Monday against several other currencies, but one of its strongest moves likely had less to do with the tariff threats. The euro fell amid a political battle in Paris over the French government’s budget . The euro sank 0.7% against the U.S. dollar and broke below $1.05. In the bond market, Treasury yields gave up early gains to hold relatively steady. The yield on the 10-year Treasury climbed above 4.23% during the morning before falling back to 4.19%. That was just above its level of 4.18% late Friday. A report in the morning showed the U.S. manufacturing sector contracted again last month, but not by as much as economists expected. This upcoming week will bring several big updates on the job market, including the October job openings report, weekly unemployment benefits data and the all-important November jobs report. They could steer the next moves for Federal Reserve, which recently began pulling interest rates lower to give support to the economy. Economists expect Friday’s headliner report to show U.S. employers accelerated their hiring in November, coming off October’s lackluster growth that was hampered by damaging hurricanes and strikes. “We now find ourselves in the middle of this Goldilocks zone, where economic health supports earnings growth while remaining weak enough to justify potential Fed rate cuts,” according to Mark Hackett, chief of investment research at Nationwide. In financial markets abroad, Chinese stocks led gains worldwide as monthly surveys showed improving conditions for manufacturing, partly driven by a surge in orders ahead of Trump’s inauguration next month. Both official and private sector surveys of factory managers showed strong new orders and export orders, possibly partly linked to efforts by importers in the U.S. to beat potential tariff hikes by Trump once he takes office. Indexes rose 0.7% in Hong Kong and 1.1% in Shanghai. ___ AP Business Writers Matt Ott and Elaine Kurtenbach contributed.
NEW YORK--(BUSINESS WIRE)--Dec 12, 2024-- The Board of Directors of American Express Company (NYSE: AXP) has declared a regular quarterly dividend of $0.70 per common share, payable on February 10, 2025, to shareholders of record on January 3, 2025. ABOUT AMERICAN EXPRESS American Express is a globally integrated payments company, providing customers with access to products, insights and experiences that enrich lives and build business success. Learn more at americanexpress.com and connect with us on facebook.com/americanexpress , instagram.com/americanexpress , linkedin.com/company/american-express , X.com/americanexpress , and youtube.com/americanexpress . Key links to products, services and corporate sustainability information: personal cards , business cards and services , travel services , gift cards , prepaid cards , merchant services , Business Blueprint , Resy , corporate card , business travel , corporate sustainability and Environmental, Social, and Governance reports . Source: American Express Company Location: Global View source version on businesswire.com : https://www.businesswire.com/news/home/20241212183025/en/ CONTACT: Media: Melanie Backs,Melanie.L.Backs@aexp.com, +1.212.640.2164 Becca Moomjian,Becca.Moomjian@aexp.com, +1.212.640.2164Investors/Analysts: Kartik Ramachandran,Kartik.Ramachandran@aexp.com, +1.212.640.5574 Kristy Ashmawy,Kristy.Ashmawy@aexp.com, +1.212.640.5574 KEYWORD: NEW YORK UNITED STATES NORTH AMERICA INDUSTRY KEYWORD: BANKING PROFESSIONAL SERVICES FINANCE SOURCE: American Express Company Copyright Business Wire 2024. PUB: 12/12/2024 05:23 PM/DISC: 12/12/2024 05:21 PM http://www.businesswire.com/news/home/20241212183025/enMissing trees, misleading ornaments, mini inflatables: Holiday decor scams leave shoppers less jolly