Burns puts up 17 points as Maine edges Canisius 84-79Since hitting an all-time high in 2022, Estée Lauder 's ( EL -0.51% ) stock has basically been crushed. The shares have lost roughly 80% of their value in two years. On top of that, the company just announced a dividend cut of about 47%. There's no doubt that the news is bad today, but for a contrarian investor, this could be the time to start sniffing around at this perfume and makeup giant. Here are three reasons why. 1. Estée Lauder is an industry leader in an attractive niche Estée Lauder doesn't make products that consumers need, like a consumer staples maker. It makes products that people want, which is why it is a consumer discretionary stock . Further, the products that Estée Lauder makes are expensive for their niche. But there's a nuance here, because the products it makes are affordable relative to other luxury items. This is an important point of differentiation. Good markets or bad ones, few people buy a BMW on a whim. But that fragrance you and your partner both love is something that might be worth dropping a hundred dollars on for a small bottle if you run out. With brands across skin care, hair care, makeup, and fragrance, Estée Lauder has a broad and globally diversified portfolio. And with sales of nearly $3.4 billion in the fiscal first quarter of 2025, the company is substantial, noting that this top-line result has been achieved despite some ongoing headwinds in key Asian markets. Ultimately, the massive stock price decline is highlighting some material near-term risks that the company is facing today. But Estée Lauder is addressing its problems from a position of strength, given the underlying fundamentals of its affordable luxury niche . 2. Estée Lauder is making things worse on purpose The big problems facing Estée Lauder today include weak sales in China thanks to its slow recovery from pandemic shutdowns, slow sales in the travel retail channel (which are also related to Asian weakness), and the costs associated with litigation around talcum powder. Fiscal first-quarter 2025 organic sales were down 5% year over year. The bottom line of the income statement fell into the red, with a loss of $0.43 per share. That's down from a profit of $0.09 per share in the prior year. But here's the interesting thing: Pull out some one-time items, and earnings rise to $0.12 per share, up from $0.11 in the fiscal first quarter of 2024. The big one-time items impacting the first quarter of fiscal 2025 were talc settlement charges and restructuring costs. In the middle of this restructuring, the company is bringing in a new CEO. It looks like management is attempting to get as much bad news out as it can as quickly as it can, which is often called a kitchen-sink quarter (sometimes kitchen-sink periods can be longer than just a quarter). EL data by YCharts The big giveaway here, however, was the reasoning for the dividend cut. According to the company, "We are reducing our dividend to a more appropriate payout ratio, which will also create more financial flexibility for our incoming leadership team." The new leadership team will also start with a clean slate on the guidance front, since longer-term guidance was withdrawn as well. While you can argue this all sounds like bad news, from a contrarian point of view it suggests that Estée Lauder is attempting to set the stage for a turnaround by making the tough moves before the new CEO is in place. 3. Estée Lauder's news isn't all bad There's definitely bad news around Estée Lauder's business, and that is clearly what investors are paying attention to right now. And yet the fiscal first-quarter update included some good news, too, which investors are largely ignoring. For example, sales growth in Europe, the Middle East & Africa, and the Americas (basically everywhere but Asia) was a strong point in the skin care segment. In Makeup, Clinique put up a double-digit sales increase globally. In the fragrance business, where sales were down just 1%, Le Labo sales rose in the double digits. And in hair care, timing issues were a headwind that should be transitory and might even end up boosting future quarters. To some extent, this is just cherry-picking good news out of the fiscal first-quarter 2025 earnings release. But that's not particularly different from what Wall Street appears to be doing, since it is simply focusing on the bad news instead. Every company struggles through difficult periods, and Estée Lauder is no different. The point here is that the business isn't exactly falling off a cliff. And management is addressing its issues as best it can, including bringing in a new CEO that will reset market expectations for the future. Estée Lauder's fire sale could end any day Estée Lauder most certainly needs to execute on whatever plan gets laid out by the incoming CEO. Conservative investors should probably wait for that plan, and might even want to see some progress toward the goals that get laid out. However, the good news that's being hidden by the bad news today suggests there's still a vital business to work with here. If you can handle some uncertainty, Estée Lauder and its iconic portfolio of affordable luxury brands is probably worth the risk for more aggressive investors. If you wait until some uncertain tomorrow, you could miss the opportunity in front of you today.
Artur Beterbiev-Dmitry Bivol rematch confirmed for February 22, Daniel Dubois faces Joseph Parker on stacked card | Sporting NewsBy MICHAEL R. SISAK NEW YORK (AP) — Lawyers for Sean “Diddy” Combs tried for a third time Friday to persuade a judge to let him leave jail while he awaits his sex trafficking trial, but a decision won’t come until next week. Judge Arun Subramanian said at a hearing that he will release his decision on Combs’ latest request for bail after Combs’ lawyers and federal prosecutors file letters addressing outstanding issues. Those letters are due at noon on Monday, Subramanian said. Combs’ lawyers pitched having him await trial under around-the-clock surveillance either his mansion on an island near Miami Beach or — after the judge scoffed at that location — an apartment on Manhattan’s Upper East Side. Their plan essentially amounts to putting Combs on house arrest, with strict limits on who he has contact with. But prosecutors argue that Combs has routinely flouted jail rules and can’t be trusted not to interfere with witnesses or the judicial process. “The argument that he’s a lawless person who doesn’t follow instructions isn’t factually accurate,” Combs lawyer Anthony Ricco argued. “The idea that he’s an out-of-control individual who has to be detained isn’t factually accurate.” Combs, 55, has pleaded not guilty to charges that he coerced and abused women for years with help from a network of associates and employees while silencing victims through blackmail and violence, including kidnapping, arson and physical beatings. His trial is slated to begin May 5. The Bad Boy Records founder remains locked up at a Brooklyn federal jail, where he spent his Nov. 4 birthday. Two other judges previously concluded that Combs would be a danger to the community if he is released and an appeals court judge last month denied Combs’ immediate release while a three-judge panel of the 2nd U.S. Circuit Court of Appeals weighs his bail request. Friday’s hearing was the second time Combs was in court this week. On Tuesday, a judge blocked prosecutors from using as evidence papers that were seized from his cell during jail-wide sweep for contraband and weapons at the Metropolitan Detention Center in Brooklyn. As he entered through a side door, Combs waved to relatives including his mother and several of his children in the courtroom gallery, tapping his hand to his heart and blowing kisses at them. He then hugged his lead attorney, Marc Agnifilo, before taking a seat at the defense table. He was not handcuffed or shackled and wore a beige jail uniform, occasionally pulling a pair of reading glasses from his pocket as he peered at papers in front of him. Prosecutors maintain that no bail conditions will mitigate the “risk of obstruction and dangerousness to others” of releasing Combs from jail. Prosecutors contend that while locked up the “I’ll Be Missing You” artist has orchestrated social media campaigns aimed at tainting the jury pool. They allege that he has also attempted to publicly leak materials he thinks would be helpful to his case and is contacting potential witnesses via third parties. “Simply put, the defendant cannot be trusted,” Assistant U.S. Attorney Christy Slavik argued. Combs’ lawyer Teny Geragos countered that, given the strict release conditions proposed, “it would be impossible for him not to follow rules.”FREDERICTON - Some nasty weather is headed toward parts of the Maritimes over the next few days, bringing with it a mix of freezing rain, rain and snow. Read this article for free: Already have an account? To continue reading, please subscribe: * FREDERICTON - Some nasty weather is headed toward parts of the Maritimes over the next few days, bringing with it a mix of freezing rain, rain and snow. Read unlimited articles for free today: Already have an account? FREDERICTON – Some nasty weather is headed toward parts of the Maritimes over the next few days, bringing with it a mix of freezing rain, rain and snow. Environment Canada says Fredericton could see freezing rain Sunday, followed by rain and a mix of rain and snow late on New Year’s Day. The forecast for Charlottetown includes periods of freezing drizzle for Sunday and then rain until the end of the year, with temperatures going up to 8 C. Halifax is also expected to see periods of drizzle and rain through New Year’s Day with the mercury set to reach 8 C on New Year’s Eve. Donald Wright, a professor of political science at the University of New Brunswick and a contributor to Yale Climate Connections at Yale University, says the Maritimes – like the rest of Canada – are not immune from a warming climate. He says long-term weather patterns in New Brunswick are changing due to global heating caused by the burning of fossil fuels. This report by The Canadian Press was first published Dec. 28, 2024. Advertisement
ATLANTA (AP) — Jalen Johnson scored 28 points and the Atlanta Hawks closed out a four-game homestand, winning a third straight contest, 120-110 over the Miami Heat on Saturday. Trae Young added his 22nd double-double of the season, with 11 point and 15 assist, and De'Andre Hunter scored 26 points in his 14th consecutive game with at least 15 points coming off the bench. Tyler Herro scored 28 points and dished out 10 assists and Bam Adebayo added 17 points and 10 rebounds. It was the Heat's fourth game in a row without star Jimmy Butler , who sat out for what the team called “return to competition reconditioning.” Heat: Miami lost despite five players finishing with double-digit point totals. The Heat shot 44.4% from the field, but it wasn't enough to overcome a Hawks team that hit over half of its shots, 51.2% from the field. Hawks: Johnson has been on an offensive tear in his last two games. He finished two points shy of his single-game career high of 30 points, set in his last game, on Thursday against the Chicago Bulls. Hunter also finished just one point shy of his single-game career high of 27 points. After a close first half that featured nine lead changes, Atlanta seized control early in the second half. With five minutes to go in the third quarter, Atlanta’s Garrison Mathews and Hunter hit back-to-back 3s to give Atlanta an 81-72 lead, their biggest of the night, and forcing a Miami timeout. Young finished one assist shy of a franchise single-game record for assists against the Miami Heat, set by Mookie Blaylock in 1993. The Hawks begin a six-game road trip in Toronto on Sunday, while the Heat visits the Rockets on Sunday. AP NBA: https://apnews.com/hub/NBAKangkan Kalita is a reporter with The Times of India and covers issues on health, education, stories of human interest while keeping a close watch on political developments and student movements. Reporting on environment and forest related issues and concerns of the northeast interest him equally. Read More 9 reasons to eat beetroot daily How to grow Kiwi from seeds in the balcony garden 10 street foods to enjoy in Jaipur Sitaphal benefits: 10 reasons to have custard apple 10 foods that are typically loved in Mumbai How to make perfect street style Bhel Puri at home 10 golden rules families should have for happier homes 10 most delicious ways to cook Palak (spinach) Japanese mom turns simple dishes into adorable food art How to make delicious Soybean Pulao at homeJalen Johnson scores 28 to lead the Hawks over the Heat 120-110 ATLANTA (AP) — Jalen Johnson scored 28 points and the Atlanta Hawks closed out a four-game homestand, winning a third straight contest, 120-110 over the Miami Heat on Saturday. Sean Holohan, The Associated Press Dec 28, 2024 3:29 PM Share by Email Share on Facebook Share on X Share on LinkedIn Print Share via Text Message Atlanta Hawks forward Jalen Johnson (1) shoots against Miami Heat center Bam Adebayo (13) during the first half of an NBA basketball game, Saturday, Dec. 28, 2024, in Atlanta. (AP Photo/Mike Stewart) ATLANTA (AP) — Jalen Johnson scored 28 points and the Atlanta Hawks closed out a four-game homestand, winning a third straight contest, 120-110 over the Miami Heat on Saturday. Trae Young added his 22nd double-double of the season, with 11 point and 15 assist, and De'Andre Hunter scored 26 points in his 14th consecutive game with at least 15 points coming off the bench. Tyler Herro scored 28 points and dished out 10 assists and Bam Adebayo added 17 points and 10 rebounds. It was the Heat's fourth game in a row without star Jimmy Butler , who sat out for what the team called “return to competition reconditioning.” Takeaways Heat: Miami lost despite five players finishing with double-digit point totals. The Heat shot 44.4% from the field, but it wasn't enough to overcome a Hawks team that hit over half of its shots, 51.2% from the field. Hawks: Johnson has been on an offensive tear in his last two games. He finished two points shy of his single-game career high of 30 points, set in his last game, on Thursday against the Chicago Bulls. Hunter also finished just one point shy of his single-game career high of 27 points. Key moment After a close first half that featured nine lead changes, Atlanta seized control early in the second half. With five minutes to go in the third quarter, Atlanta’s Garrison Mathews and Hunter hit back-to-back 3s to give Atlanta an 81-72 lead, their biggest of the night, and forcing a Miami timeout. Key stat Young finished one assist shy of a franchise single-game record for assists against the Miami Heat, set by Mookie Blaylock in 1993. Up next The Hawks begin a six-game road trip in Toronto on Sunday, while the Heat visits the Rockets on Sunday. ___ AP NBA: https://apnews.com/hub/NBA Sean Holohan, 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 Get your daily Victoria news briefing Email Sign Up More Basketball Chicago Bulls guard Ayo Dosunmu has a strained right calf Dec 28, 2024 2:48 PM Dallas' Naji Marshall gets 4-game suspension, Phoenix's Jusuf Nurkic is banned 3 games for fight Dec 28, 2024 1:22 PM Mavs star Luka Doncic is latest pro athlete whose home was burglarized, business manager says Dec 28, 2024 12:58 PM
Delaware judge rejects request to restore Elon Musk's $56 billion Tesla paySTATE COLLEGE, Pa. (AP) — Jaylen Reed’s hands were still dirty and his face smeared with eye black as he took a seat in the Beaver Stadium media room. The hard-nosed veteran of nearly 50 college football games looked weary after Penn State pounded Maryland on Saturday, but lit up as he watched media members gather around teammate Audavion Collins next to him. The sophomore was excitedly describing his first career interception. Reed grinned, his pride was evident. One of Penn State’s captains, Reed loves when underclassmen earn playing time. He knows, especially on defense, the No. 3 Nittany Lions (11-1, 8-1 Big Ten, No. 4 CFP) will likely rely on them to make a run at their first national championship since 1986. “Having that type of depth, having that type of guy that can step up and play the game every week, that’s something that’s going to help us down the stretch,” Reed said. “Having depth at all positions, I feel like that’s the main thing and I feel like we have huge depth.” Reed knows Collins is far from the only reserve player who has been effective for Tom Allen’s defense this season. Heading into Saturday’s Big Ten championship game against No. 1 Oregon in Indianapolis, Penn State has used 39 players on a defense that ranks seventh nationally against the run and pass. Meanwhile, the Nittany Lions are fourth overall in total defense (266.8 yards) and sixth in scoring defense (14 points) entering the showdown with the Ducks' 15th-ranked offense with a College Football Playoff first-round bye at stake. It’s not just the starting 11 getting it done. Since mid-October, Penn State has regularly rotated at least nine defensive linemen, six linebackers and nine defensive backs early and midway through games. As a result, seven players have snagged their first interceptions this season, while five others have recorded their first sacks. “We believe in everybody coming in behind us,” linebacker Tony Rojas said. “Our defense, we know what we’re capable of and I feel like our defense is top tier, if not the best.” It technically hasn’t been at full strength since Week 2 of the season. Then, star safety KJ Winston was lost to an unspecified long-term injury. He tried to play at Wisconsin on Oct. 26, but hasn’t seen action since. In the meantime, Winston’s absence has allowed Allen and head coach James Franklin to get a good look at Collins and other young backend players like Eliot Washington, Zion Tracy and Dejuan Lane. Tracy and Lane have seen their snap counts go up since November, and both have interceptions since. The Nittany Lions haven’t been immune to injuries up front, either. Star end Dani Dennis-Sutton was limited midway through the season by an unspecified ailment. Before last weekend’s game against Maryland, Penn State listed defensive tackles Alonzo Ford and Kaleb Artis and defensive end Zuriah Fisher out with injuries. While not near 100% healthy, Dennis-Sutton continued to suit up, but yielded reps to Amin Vanover and Smith Vilbert. Vanover and Vilbert are seniors who were slowed over the years by injuries but have stuck around, and are now shoring up the team’s depth. “I think getting Dani back healthy, that’s been important,” Franklin said. “I think this was his first game back where he was really healthy, Abdul (Carter) the second half of the season, has gotten very comfortable playing defensive end. We’ve been able to rotate and get production out of guys like Amin as well, so I think all those things have been really important.” So is the fact that Penn State’s defense has continued to close out games. The Nittany Lions have allowed just 445 yards on 125 third-quarter plays this season. Meanwhile, they’ve outscored opponents 192-55 in the second half and overtime and held 19 of their last 22 Big Ten opponents to fewer that 100 rushing yards. Like Reed, senior Dvon J-Thomas spent much of the second half against Maryland cheering on his freshman teammates. Notably, tackle Ty Blanding who had his first career tackle for loss in his first defensive series. “I’ve seen a tremendous leap in their attention to detail,” J-Thomas said. “There’s not a lot of moments or times in your career where you’ll have an opportunity like this and I think they realize that." Get poll alerts and updates on the AP Top 25 throughout the season. Sign up here . AP college football: https://apnews.com/hub/ap-top-25-college-football-poll and https://apnews.com/hub/college-football
The streets were dark and cars packed. People, who moved on foot, carried bags with their belongings, unsure about where they were going but certain that they could not stay. This was the scene on Tuesday in Nuweiri, central Beirut, moments after the Israeli military issued evacuation warnings, the first for these areas. We were trying to visit the site of an Israeli air strike hours earlier, in the afternoon, that came without warning, flattened one building and killed at least seven people. But we could not get there. Crowds were leaving, and men on motorbikes stopped us from moving, saying it was not safe. Minutes later, we heard several explosions, from more attacks. And for hours, that was how the night unfolded in Beirut. Multiple blasts. Some in the distance; others closer. Gunshots announced more warnings, urging people to seek safety. All of this, with the constant sound of an Israeli drone flying overhead. This dramatic escalation came as the country waited for an Israeli decision on a ceasefire deal, the main hope to end over a year of conflict with Hezbollah, the powerful Iranian-backed movement. During that wait, Israel unleashed its most intense bombardment of Beirut in the conflict. Within two minutes, shortly after the attack on Nuweiri, fighter jets hit 20 targets in the city’s southern suburbs, known as Dahieh, where Hezbollah is based in the city. The Israel Defense Forces (IDF) said the targets hit were facilities used by Hezbollah, and the wave of attacks was heard across the city. Now, a ceasefire has been officially announced, but questions remain. The war has been devastating for Lebanon, where more than 3,700 people have been killed since the start of the hostilities in October 2023, and one million residents have been displaced in areas where Hezbollah has strong presence. The World Bank estimates $8.5bn (£6.8bn) in economic losses and damage. Recovery will take time, and no-one seems to know who will pay for it. Under the deal, thousands of Lebanese soldiers will be deployed to the south, after the withdrawal of Israeli forces and Hezbollah fighters. How they will be deployed remains unclear. The military has complained that they do not have the resources – money, manpower and equipment – to fulfil their obligations. But it is not only about funding, which will probably come from some of Lebanon’s international allies. Will the Lebanese military confront Hezbollah if needed? That would put Lebanese against Lebanese, which is always a risk in a country where sectarian divisions run deep. Lebanese authorities seem to have accepted that things must change, a diplomat told me. It appears there is political will to do so. Hezbollah, too, has been devastated. Many of its leaders have been killed, including long-time chief Hassan Nasrallah, while its infrastructure has been heavily damaged. How it will look like after the war is another unknown. The group has been severely weakened, some would say humiliated, but it has not been destroyed. In Lebanon, it is more than a militia: it is a political party with representation in Parliament, and a social organisation, with significant support among Shia Muslims. Its opponents will probably see it as an opportunity to limit its influence. Before the conflict, Hezbollah was often described as a state within a state in Lebanon. And for months, people outside Hezbollah’s support base said the group had dragged the country into a war that was not in its interests. This deal may bring the conflict with Israel to an end. But many in Lebanon fear a new internal conflict could follow.With the insurance landscape ever evolving, it is becoming increasingly crucial for insurance companies to embrace innovative technological advancements that introduce convenience, enhance customer engagement, and redefine marketing strategies to stay competitive. Africa's population remains largely underserved by traditional insurance models, underscoring the urgent need for accessible, customer-centric solutions. This highlights an opportunity for insurers to serve this market with innovative tools and solutions that can meet the changing demands of African customers. Delivering a strong insurance product is no longer sufficient; insurance companies must also focus on delivering a robust omnichannel customer experience. Modern customers expect instant, real-time, and personalised support experiences. They want to buy insurance easily, file a claim, access basic information, and have questions answered anytime and anywhere over their preferred communication channel. However, it is not only about technology, the key is to also create connected customer experiences that are humanised. This should be at the heart of the digital transformation efforts of insurance companies, and this is where knowing who your customers are, their channel preferences and always being there for them becomes essential. With the rise of digitalisation, insurance companies are exploring new ways to increase customer engagement, streamline processes, reduce costs, introduce convenience, and boost satisfaction, and one effective strategy is through... Staff Writer
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