Emerging markets, caught between economic giants, face tough 2025, JPMorgan says
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WEST JORDAN, Utah, Dec. 10, 2024 (GLOBE NEWSWIRE) -- Sportsman's Warehouse Holdings, Inc. ("Sportsman's Warehouse” or the "Company”) (Nasdaq: SPWH) today announced third quarter financial results for the thirteen and thirty-nine weeks ended November 2, 2024. "Despite a pressured consumer and complex macroeconomic environment, we focused our efforts on driving sales and achieved growth in our fishing, camping and gift bar categories during the quarter,” said Paul Stone, Sportsman's Warehouse President and Chief Executive Officer. "We continue to make progress on our business reset initiatives with a focus on improved in-stocks, in-store and online customer experience and our Great Gear | Great Service program.” "To improve our holiday relevancy and drive traffic during the season, we introduced an omni-channel marketing campaign highlighting gear perfect for gifting or for treating yourself, primarily centered around value,” continued Stone. "This is a new approach to engaging our customers, which we coupled with an upgraded store experience creating a fully integrated customer experience. As we move through the balance of the holiday season and navigate a pressured consumer environment, we'll continue to prioritize traffic-driving marketing and product pricing initiatives, exceptional customer service and prudent inventory management. Emphasizing the balance sheet and ending the year with positive free cash flow remain our primary objectives.” For the thirteen weeks ended November 2, 2024: "Given the current consumer environment and the shift towards value and promotion-driven shopping, we intensified our marketing and advertising campaigns to drive sales, which placed additional pressure on our margins this quarter,” said Jeff White, Chief Financial Officer of Sportsman's Warehouse "To ensure strong core product in-stocks and to bring fresh offerings to our stores, we made strategic inventory investments aimed at improving sales during the hunting and holiday seasons. As we progress through the remainder of the year, we will remain disciplined in managing our expenses, and will reduce total inventory levels to generate positive free cash flow. Our mid and long-term objectives will be centered on improving our topline with a focus on margins and profitability.” The Company is adjusting its guidance for fiscal year 2024 and expects net sales to be in the range of $1.18 billion to $1.20 billion, adjusted EBITDA to be in the range of $23 million to $29 million and total inventory to be below $350 million. The low end of the adjusted EBITDA range still assumes positive free cash flow for the full year. The Company now expects capital expenditures for 2024 to be in the range of $17 million to $20 million, primarily consisting of technology investments relating to merchandising and store productivity. No new store openings for the remainder of fiscal year 2024 are currently anticipated and we plan to open one new store in fiscal year 2025. The Company has not reconciled expected adjusted EBITDA for fiscal year 2024 to GAAP net income because the Company does not provide guidance for net (loss) income and is not able to provide a reconciliation to net (loss) income without unreasonable effort. The Company is not able to estimate net (loss) income on a forward-looking basis without unreasonable efforts due to the variability and complexity with respect to the charges excluded from Adjusted EBITDA, including stock-based compensation expense. Conference Call Information A conference call to discuss third quarter 2024 financial results is scheduled for December 10, 2024, at 5:00 PM Eastern Time. The conference call will be held via webcast and may be accessed via the Investor Relations section of the Company's website at www.sportsmans.com. Non-GAAP Financial Measures This press release includes the following financial measures defined as non-GAAP financial measures by the Securities and Exchange Commission (the "SEC”) and that are not calculated in accordance with U.S. generally accepted accounting principles ("GAAP”): adjusted net (loss) income, adjusted diluted (loss) earnings per share and adjusted EBITDA. The Company defines adjusted net (loss) income as net (loss) income plus expenses incurred relating to director and officer transition costs, costs related to the implementation of our cost reduction plan, costs related to legal settlements and related fees and expenses, and fees and expenses related to a settlement in the cancellation of a contract related to our information technology systems. Net (loss) income is the most comparable GAAP financial measure to adjusted net (loss) income. The Company defines adjusted diluted (loss) earnings per share as adjusted net (loss) income divided by diluted weighted average shares outstanding. Diluted (loss) earnings per share is the most comparable GAAP financial measure to adjusted diluted (loss) earnings per share. The Company defines Adjusted EBITDA as net (loss) income plus interest expense, income tax (benefit) expense, depreciation and amortization, stock-based compensation expense, director and officer transition costs, costs related to the implementation of our cost reduction plan, a legal settlement and related fees and expenses, and fees and expenses related to a settlement in the cancellation of a contract related to our information technology systems. Net (loss) income is the most comparable GAAP financial measure to adjusted EBITDA. The Company has reconciled these non-GAAP financial measures to the most directly comparable GAAP financial measures under "GAAP and Non-GAAP Financial Measures” in this release. As noted above, the Company has not provided a reconciliation of fiscal year 2024 guidance for Adjusted EBITDA, in reliance on the unreasonable efforts exception provided under Item 10(e)(1)(i)(B) of Regulation S-K. The Company believes that these non-GAAP financial measures not only provide its management with comparable financial data for internal financial analysis but also provide meaningful supplemental information to investors and are frequently used by analysts, investors and other interested parties in the evaluation of companies in the Company's industry. Specifically, these non-GAAP financial measures allow investors to better understand the performance of the Company's business and facilitate a more meaningful comparison of its diluted (loss) earnings per share and actual results on a period-over-period basis. The Company has provided this information as a means to evaluate the results of its ongoing operations. Management uses this information as additional measurement tools for purposes of business decision-making, including evaluating store performance, developing budgets and managing expenditures. Other companies in the Company's industry may calculate these items differently than the Company does. Each of these measures is not a measure of performance under GAAP and should not be considered as a substitute for the most directly comparable financial measures prepared in accordance with GAAP. Non-GAAP financial measures have limitations as analytical tools, and investors should not consider them in isolation or as a substitute for analysis of the Company's results as reported under GAAP. The Company's management believes that these non-GAAP financial measures allow investors to evaluate the Company's operating performance and compare its results of operations from period to period on a consistent basis by excluding items that management does not believe are indicative of the Company's core operating performance. The presentation of such measures, which may include adjustments to exclude unusual or non-recurring items, should not be construed as an inference that the Company's future results, cash flows or leverage will be unaffected by other unusual or non-recurring items. Forward-Looking Statements This press release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 as contained in Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements in this release include, but are not limited to, statements regarding our progress on our business reset initiatives; our prioritization of traffic-driving marketing and product pricing initiatives, exceptional customer service and prudent inventory management; our emphasis on the balance sheet and ending the year with positive free cash flow; our ability to manage expenses, reduce total inventory levels to generate positive free cash flow; and our guidance for net sales and Adjusted EBITDA for fiscal year 2024. Investors can identify these statements by the fact that they use words such as "aim,” "anticipate,” "assume,” "believe,” "can have,” "could,” "due,” "estimate,” "expect,” "goal,” "intend,” "likely,” "may,” "objective,” "plan,” "positioned,” "potential,” "predict,” "should,” "target,” "will,” "would” and similar terms and phrases. These forward-looking statements are based on current expectations, estimates, forecasts and projections about our business and the industry in which we operate and our management's beliefs and assumptions. We derive many of our forward-looking statements from our own operating budgets and forecasts, which are based upon many detailed assumptions. While we believe that our assumptions are reasonable, we caution that predicting the impact of known factors is very difficult, and we cannot anticipate all factors that could affect our actual results. The Company cannot assure investors that future developments affecting the Company will be those that it has anticipated. Actual results may differ materially from these expectations due to many factors including, but not limited to: current and future government regulations, in particular regulations relating to the sale of firearms and ammunition, which may impact the supply and demand for the Company's products and ability to conduct its business; the Company's retail-based business model which is impacted by general economic and market conditions and economic, market and financial uncertainties that may cause a decline in consumer spending; the Company's concentration of stores in the Western United States which makes the Company susceptible to adverse conditions in this region, and could affect the Company's sales and cause the Company's operating results to suffer; the highly fragmented and competitive industry in which the Company operates and the potential for increased competition; changes in consumer demands, including regional preferences, which we may not be able to identify and respond to in a timely manner; the Company's entrance into new markets or operations in existing markets, including the Company's plans to open additional stores in future periods, which may not be successful; the Company's implementation of a plan to reduce expenses in response to adverse macroeconomic conditions, including an increased focus on financial discipline and rigor throughout the Company's organization; impact of general macroeconomic conditions, such as labor shortages, inflation, elevated interest rates, economic slowdowns, and recessions or market corrections; and other factors that are set forth in the Company's filings with the SEC, including under the caption "Risk Factors” in the Company's Form 10-K for the fiscal year ended February 3, 2024, which was filed with the SEC on April 4, 2024, and the Company's other public filings made with the SEC and available at www.sec.gov. If one or more of these risks or uncertainties materialize, or if any of the Company's assumptions prove incorrect, the Company's actual results may vary in material respects from those projected in these forward-looking statements. Any forward-looking statement made by the Company in this release speaks only as of the date on which the Company makes it. Factors or events that could cause the Company's actual results to differ may emerge from time to time, and it is not possible for the Company to predict all of them. The Company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by any applicable securities laws. About Sportsman's Warehouse Holdings, Inc. Sportsman's Warehouse Holdings, Inc. is an outdoor specialty retailer focused on meeting the needs of the seasoned outdoor veteran, the first-time participant, and everyone in between. We provide outstanding gear and exceptional service to inspire outdoor memories. For press releases and certain additional information about the Company, visit the Investor Relations section of the Company's website at www.sportsmans.com. Investor Contact: Riley Timmer Vice President, Investor Relations Sportsman's Warehouse (801) 304-2816 [email protected] Condensed Consolidated Statements of Operations (Unaudited) (amounts in thousands, except per share data) 2024 sales 2023 sales Variance Condensed Consolidated Statements of Operations (Unaudited) (amounts in thousands, except per share data) 2024 sales 2023 sales Variance
Michael Gray Jr., Byron Ireland rally Nicholls to 76-75 victory over Louisiana
JERUSALEM (AP) — Israel approved a ceasefire agreement with Lebanon's Hezbollah militants on Tuesday that would end nearly 14 months of fighting linked to the war in the Gaza Strip. The ceasefire, starting at 4 a.m. local time Wednesday, would mark the first major step toward ending the regionwide unrest triggered by Hamas’ attack on Israel on Oct. 7, 2023. But it does not address the devastating war in Gaza , where Hamas is still holding dozens of hostages and the conflict is more intractable. Hours before the ceasefire with Hezbollah was to take effect, Israel carried out the most intense wave of strikes in Beirut and its southern suburbs since the start of the conflict and issued a record number of evacuation warnings. At least 42 people were killed in strikes across the country, according to local authorities. Another huge airstrike shook Beirut shortly after the ceasefire was announced. There appeared to be lingering disagreement over whether Israel would have the right to strike Hezbollah if it believed the militants had violated the agreement, something Prime Minister Benjamin Netanyahu insisted was part of the deal but which Lebanese and Hezbollah officials have rejected. Israel's security Cabinet approved the U.S.-France-brokered ceasefire agreement after Netanyahu presented it, his office said. U.S. President Joe Biden, speaking in Washington, called the agreement “good news” and said his administration would make a renewed push for a ceasefire in Gaza. The Biden administration spent much of this year trying to broker a ceasefire and hostage release in Gaza but the talks repeatedly sputtered to a halt . President-elect Donald Trump has vowed to bring peace to the Middle East without saying how. Still, any halt to the fighting in Lebanon is expected to reduce the likelihood of war between Israel and Iran, which backs both Hezbollah and Hamas and exchanged direct fire with Israel on two occasions earlier this year. Netanyahu presented the ceasefire proposal to Cabinet ministers after a televised address in which he listed accomplishments against Israel’s enemies across the region. He said a ceasefire with Hezbollah would further isolate Hamas in Gaza and allow Israel to focus on its main enemy, Iran. “If Hezbollah breaks the agreement and tries to rearm, we will attack,” he said. “For every violation, we will attack with might.” The ceasefire deal calls for a two-month initial halt in fighting and would require Hezbollah to end its armed presence in a broad swath of southern Lebanon, while Israeli troops would return to their side of the border. Thousands of additional Lebanese troops and U.N. peacekeepers would deploy in the south, and an international panel headed by the United States would monitor compliance. Biden said Israel reserved the right to quickly resume operations in Lebanon if Hezbollah breaks the terms of the truce, but that the deal "was designed to be a permanent cessation of hostilities.” Netanyahu’s office said Israel appreciated the U.S. efforts in securing the deal but “reserves the right to act against every threat to its security.” Lebanon’s caretaker Prime Minister Najib Mikati welcomed the ceasefire and described it as a crucial step toward stability and the return of displaced people. Hezbollah has said it accepts the proposal, but a senior official with the group said Tuesday it had not seen the agreement in its final form. “After reviewing the agreement signed by the enemy government, we will see if there is a match between what we stated and what was agreed upon by the Lebanese officials,” Mahmoud Qamati, deputy chair of Hezbollah’s political council, told the Al Jazeera news network. “We want an end to the aggression, of course, but not at the expense of the sovereignty of the state," he said, referring to Israel's demand for freedom of action. “Any violation of sovereignty is refused.” Even as ceasefire efforts gained momentum in recent days, Israel continued to strike what it called Hezbollah targets across Lebanon while the militants fired rockets, missiles and drones across the border. An Israeli strike on Tuesday leveled a residential building in central Beirut — the second time in recent days warplanes have hit the crowded area near downtown. At least seven people were killed and 37 wounded, according to Lebanon's Health Ministry. Israel also struck a building in Beirut's bustling commercial district of Hamra for the first time, hitting a site around 400 meters (yards) from Lebanon’s Central Bank. There were no reports of casualties. The Israeli military said it struck targets linked to Hezbollah's financial arm. The evacuation warnings covered many areas, including parts of Beirut that previously were not targeted. The warnings sent residents fleeing. Traffic was gridlocked, with mattresses tied to some cars. Dozens of people, some wearing pajamas, gathered in a central square, huddling under blankets or standing around fires as Israeli drones buzzed overhead. Israeli military spokesman Avichay Adraee issued evacuation warnings for 20 buildings in Beirut's southern suburbs, where Hezbollah has a major presence, as well as a warning for the southern town of Naqoura where the U.N. peacekeeping mission, UNIFIL, is headquartered. UNIFIL spokesperson Andrea Tenenti said peacekeepers will not evacuate. The Israeli military also said its ground troops clashed with Hezbollah forces and destroyed rocket launchers in the Slouqi area on the eastern end of the Litani River, a few kilometers (miles) from the Israeli border. Under the ceasefire deal, Hezbollah would be required to move its forces north of the Litani, which in some places is about 30 kilometers (20 miles) north of the border. Hezbollah began firing into northern Israel on Oct. 8, 2023, saying it was showing support for the Palestinians, a day after Hamas carried out its attack on southern Israel, triggering the Gaza war. Israel returned fire on Hezbollah, and the two sides have exchanged barrages ever since. Israel escalated its bombardment in mid-September and later sent troops into Lebanon, vowing to put an end to Hezbollah fire so tens of thousands of evacuated Israelis could return to their homes. More than 3,760 people have been killed by Israeli fire in Lebanon the past 13 months, many of them civilians, according to Lebanese health officials. The bombardment has driven 1.2 million people from their homes. Israel says it has killed more than 2,000 Hezbollah members. Hezbollah fire has forced some 50,000 Israelis to evacuate in the country’s north, and its rockets have reached as far south in Israel as Tel Aviv. At least 75 people have been killed, more than half of them civilians. More than 50 Israeli soldiers have died in the ground offensive in Lebanon. Chehayeb and Mroue reported from Beirut and Federman from Jerusalem. Associated Press reporters Lujain Jo and Sally Abou AlJoud in Beirut and Aamer Madhani in Washington contributed. Find more of AP’s war coverage at https://apnews.com/hub/israel-hamas-war
THOUSAND OAKS, Calif. , Dec. 10, 2024 /PRNewswire/ -- Amgen AMGN today announced that its Board of Directors declared a $2.38 per share dividend for the first quarter of 2025. The dividend will be paid on March 7, 2025 , to all stockholders of record as of the close of business on February 14, 2025 . About Amgen Amgen discovers, develops, manufactures and delivers innovative medicines to help millions of patients in their fight against some of the world's toughest diseases. More than 40 years ago, Amgen helped to establish the biotechnology industry and remains on the cutting-edge of innovation, using technology and human genetic data to push beyond what's known today. Amgen is advancing a broad and deep pipeline that builds on its existing portfolio of medicines to treat cancer, heart disease, osteoporosis, inflammatory diseases and rare diseases. In 2024, Amgen was named one of the "World's Most Innovative Companies" by Fast Company and one of "America's Best Large Employers" by Forbes, among other external recognitions . Amgen is one of the 30 companies that comprise the Dow Jones Industrial Average ® , and it is also part of the Nasdaq-100 Index ® , which includes the largest and most innovative non-financial companies listed on the Nasdaq Stock Market based on market capitalization. For more information, visit Amgen.com and follow Amgen on X , LinkedIn , Instagram , TikTok , YouTube and Threads . Forward-Looking Statements This news release contains forward-looking statements that are based on the current expectations and beliefs of Amgen. All statements, other than statements of historical fact, are statements that could be deemed forward-looking statements, including any statements on the outcome, benefits and synergies of collaborations, or potential collaborations, with any other company (including BeiGene, Ltd. or Kyowa Kirin Co., Ltd.), the performance of Otezla® (apremilast) (including anticipated Otezla sales growth and the timing of non-GAAP EPS accretion), our acquisitions of Teneobio, Inc., ChemoCentryx, Inc., or Horizon Therapeutics plc (including the prospective performance and outlook of Horizon's business, performance and opportunities, any potential strategic benefits, synergies or opportunities expected as a result of such acquisition, and any projected impacts from the Horizon acquisition on our acquisition-related expenses going forward), as well as estimates of revenues, operating margins, capital expenditures, cash, other financial metrics, expected legal, arbitration, political, regulatory or clinical results or practices, customer and prescriber patterns or practices, reimbursement activities and outcomes, effects of pandemics or other widespread health problems on our business, outcomes, progress, and other such estimates and results. Forward-looking statements involve significant risks and uncertainties, including those discussed below and more fully described in the Securities and Exchange Commission reports filed by Amgen, including our most recent annual report on Form 10-K and any subsequent periodic reports on Form 10-Q and current reports on Form 8-K. Unless otherwise noted, Amgen is providing this information as of the date of this news release and does not undertake any obligation to update any forward-looking statements contained in this document as a result of new information, future events or otherwise. No forward-looking statement can be guaranteed and actual results may differ materially from those we project. Our results may be affected by our ability to successfully market both new and existing products domestically and internationally, clinical and regulatory developments involving current and future products, sales growth of recently launched products, competition from other products including biosimilars, difficulties or delays in manufacturing our products and global economic conditions. In addition, sales of our products are affected by pricing pressure, political and public scrutiny and reimbursement policies imposed by third-party payers, including governments, private insurance plans and managed care providers and may be affected by regulatory, clinical and guideline developments and domestic and international trends toward managed care and healthcare cost containment. Furthermore, our research, testing, pricing, marketing and other operations are subject to extensive regulation by domestic and foreign government regulatory authorities. We or others could identify safety, side effects or manufacturing problems with our products, including our devices, after they are on the market. Our business may be impacted by government investigations, litigation and product liability claims. In addition, our business may be impacted by the adoption of new tax legislation or exposure to additional tax liabilities. If we fail to meet the compliance obligations in the corporate integrity agreement between us and the U.S. government, we could become subject to significant sanctions. Further, while we routinely obtain patents for our products and technology, the protection offered by our patents and patent applications may be challenged, invalidated or circumvented by our competitors, or we may fail to prevail in present and future intellectual property litigation. We perform a substantial amount of our commercial manufacturing activities at a few key facilities, including in Puerto Rico , and also depend on third parties for a portion of our manufacturing activities, and limits on supply may constrain sales of certain of our current products and product candidate development. An outbreak of disease or similar public health threat, such as COVID-19, and the public and governmental effort to mitigate against the spread of such disease, could have a significant adverse effect on the supply of materials for our manufacturing activities, the distribution of our products, the commercialization of our product candidates, and our clinical trial operations, and any such events may have a material adverse effect on our product development, product sales, business and results of operations. We rely on collaborations with third parties for the development of some of our product candidates and for the commercialization and sales of some of our commercial products. In addition, we compete with other companies with respect to many of our marketed products as well as for the discovery and development of new products. Discovery or identification of new product candidates or development of new indications for existing products cannot be guaranteed and movement from concept to product is uncertain; consequently, there can be no guarantee that any particular product candidate or development of a new indication for an existing product will be successful and become a commercial product. Further, some raw materials, medical devices and component parts for our products are supplied by sole third-party suppliers. Certain of our distributors, customers and payers have substantial purchasing leverage in their dealings with us. The discovery of significant problems with a product similar to one of our products that implicate an entire class of products could have a material adverse effect on sales of the affected products and on our business and results of operations. Our efforts to collaborate with or acquire other companies, products or technology, and to integrate the operations of companies or to support the products or technology we have acquired, may not be successful. There can be no guarantee that we will be able to realize any of the strategic benefits, synergies or opportunities arising from the Horizon acquisition, and such benefits, synergies or opportunities may take longer to realize than expected. We may not be able to successfully integrate Horizon, and such integration may take longer, be more difficult or cost more than expected. A breakdown, cyberattack or information security breach of our information technology systems could compromise the confidentiality, integrity and availability of our systems and our data. Our stock price is volatile and may be affected by a number of events. Our business and operations may be negatively affected by the failure, or perceived failure, of achieving our environmental, social and governance objectives. The effects of global climate change and related natural disasters could negatively affect our business and operations. Global economic conditions may magnify certain risks that affect our business. Our business performance could affect or limit the ability of our Board of Directors to declare a dividend or our ability to pay a dividend or repurchase our common stock. We may not be able to access the capital and credit markets on terms that are favorable to us, or at all. CONTACT: Amgen, Thousand Oaks Elissa Snook , 609-251-1407 (media) Justin Claeys , 805-313-9775 (investors) View original content to download multimedia: https://www.prnewswire.com/news-releases/amgen-announces-2025-first-quarter-dividend-302328180.html SOURCE Amgen © 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.The large mysterious drones reported flying over parts of New Jersey in recent weeks appear to avoid detection by traditional methods such as helicopter and radio, according to a state lawmaker briefed Wednesday by the Department of Homeland Security. In a post on the social media platform X, Assemblywoman Dawn Fantasia described the drones as up to 6 feet in diameter and sometimes traveling with their lights switched off. The Morris County Republican was among several state and local lawmakers who met with state police and Homeland Security officials to discuss the spate of sightings that range from the New York City area through New Jersey and westward into parts of Pennsylvania, including over Philadelphia. The devices do not appear to be The dronees wereffffflown by hobbyists, Fantasia wrote. Dozens of mysterious nighttime flights started last month and have raised growing concern among residents and officials. Part of the worry stems from the flying objects initially being spotted near the Picatinny Arsenal, a U.S. military research and manufacturing facility; and over President-elect Donald Trump’s golf course in Bedminster. Drones are legal in New Jersey for recreational and commercial use, but they are subject to local and Federal Aviation Administration regulations and flight restrictions. Operators must be FAA certified. Most, but not all, of the drones spotted in New Jersey were larger than those typically used by hobbyists. The number of sightings has increased in recent days, though officials say many of the objects seen may have been planes rather than drones. It’s also possible that a single drone has been reported more than once. Gov. Phil Murphy and law enforcement officials have stressed that the drones don’t appear to threaten public safety. The FBI has been investigating and has asked residents to share any videos, photos or other information they may have. Two Republican Jersey Shore-area congressmen, U.S. Reps. Chris Smith and Jeff Van Drew, have called on the military to shoot down the drones. Smith said a Coast Guard commanding officer briefed him on an incident over the weekend in which a dozen drones followed a motorized Coast Guard lifeboat “in close pursuit” near Barnegat Light and Island Beach State Park in Ocean County. Coast Guard Lt. Luke Pinneo told The Associated Press Wednesday “that multiple low-altitude aircraft were observed in vicinity of one of our vessels near Island Beach State Park.” The aircraft weren't perceived as an immediate threat and didn't disrupt operations, Pinneo said. The Coast Guard is assisting the FBI and state agencies in investigating. In a letter to U.S. Defense Secretary Lloyd Austin, Smith called for military help dealing with the drones, noting that Joint Base McGuire-Dix-Lakehurst has the capability "to identify and take down unauthorized unmanned aerial systems.” However, Pentagon spokeswoman Sabrina Singh told reporters Wednesday that “our initial assessment here is that these are not drones or activities coming from a foreign entity or adversary.” Many municipal lawmakers have called for more restrictions on who is entitled to fly the unmanned devices. At least one state lawmaker proposed a temporary ban on drone flights in the state. “This is something we’re taking deadly seriously. I don’t blame people for being frustrated," Murphy said earlier this week. A spokesman for the Democratic governor said he did not attend Wednesday's meeting. Republican Assemblyman Erik Peterson, whose district includes parts of the state where the drones have been reported, said he also attended Wednesday's meeting at a state police facility in West Trenton. The session lasted for about 90 minutes. Peterson said DHS officials were generous with their time, but appeared dismissive of some concerns, saying not all the sightings reported have been confirmed to involve drones. So who or what is behind the flying objects? Where are they coming from? What are they doing? “My understanding is they have no clue,” Peterson said. A message seeking comment was left with the Department of Homeland Security. Most of the drones have been spotted along coastal areas and some were recently reported flying over a large reservoir in Clinton. Sightings also have been reported in neighboring states. James Edwards, of Succasunna, New Jersey, said he has seen a few drones flying over his neighborhood since last month. “It raises concern mainly because there's so much that's unknown,” Edwards said Wednesday. “There are lots of people spouting off about various conspiracies that they believe are in play here, but that only adds fuel to the fire unnecessarily. We need to wait and see what is really happening here, not let fear of the unknown overtake us." —— AP reporters Mike Catalini in Morrisville, Pennsylvania; and Wayne Parry in Point Pleasant, New Jersey, contributed to this report.The world approved a bitterly negotiated climate deal Sunday committing wealthy historic polluters to $300 billion annually for poor and vulnerable nations that had demanded far more to confront the crisis of global warming. After two exhaustive weeks of chaotic bargaining and sleepless nights, nearly 200 nations banged through the contentious finance pact in the early hours beneath a sports stadium roof in Azerbaijan. Nations had struggled to reconcile long-standing divisions over climate finance. Sleep-deprived diplomats, huddled in anxious groups, were still revising the final phrasing on the plenary floor before the deal passed. At points, the talks appeared on the brink of collapse, with developing nations storming out of meetings and threatening to walk away should rich nations not cough up more cash. In the end -- despite repeating that no deal is better than a bad deal -- they did not stand in the way of an agreement, despite it falling well short of what they want. The final deal commits developed nations to pay at least $300 billion a year by 2035 to help developed countries green their economies and prepare for worse disasters. That is up from $100 billion now provided by wealthy nations under a commitment set to expire -- and from the $250 billion proposed in a draft Friday. That offer was slammed as offensively low by developing countries, which have demanded at least $500 billion to build resilience against climate change and cut emissions. Sign up to get our free daily email of the biggest stories! A number of countries have accused Azerbaijan, an authoritarian oil and gas exporter, of lacking the experience and will to meet the moment, as the planet again sets temperature records and faces rising deadly disasters. Wealthy countries and small island nations have also been concerned by efforts led by Saudi Arabia to water down calls from last year's summit to phase out fossil fuels. The United States and EU have wanted newly wealthy emerging economies like China -- the world's largest emitter -- to chip in. The final draft encouraged developing countries to make contributions on a voluntary basis, reflecting no change for China which already pays climate finance on its own terms. Wealthy nations said it was politically unrealistic to expect more in direct government funding. Donald Trump, a sceptic of both climate change and foreign assistance, returns to the White House in January and a number of other Western countries have seen right-wing backlashes against the green agenda. The deal posits a larger overall target of $1.3 trillion per year to cope with rising temperatures and disasters, but most would come from private sources. bur-np-sct/lth/jjMetagenomi Presents Highly Specific and Efficient Genome Editing Tools at Nature Conference “RNA at the Bench and Bedside IV”
Mesa, AZ, Dec. 11, 2024 (GLOBE NEWSWIRE) -- The Board of Directors of RVR, Inc., the leading worldwide owner and operator of motor homes, today announced the appointment of Michael A. Bloom, Esquire, The Honorable Ursula Ungaro, and The Honorable Patrick Riley, effective December 9, 2024, as Independent Directors of the Company. They will serve as members of a newly created Special Committee responsible for conducting an independent analysis of legal and other matters related to the Company's Employee Stock Ownership Plan and the pending litigation with the U.S. Department of Labor. These appointments increase the size of the Corporation's Board from seven to ten members. "We are pleased to welcome Michael Bloom, The Honorable Ursula Ungaro, and The Honorable Patrick Riley to our Board of Directors,” said Randall Smalley, Chairman of the Board. "Their combined experience as highly respected and accomplished legal leaders and trusted business advisors will be invaluable to our Board.” About Michael A. Bloom, Esquire Michael A. Bloom served as the long-time General Counsel of the law firm Morgan Lewis, partner in its Bankruptcy and Financial Restructuring Practice, and chair its Standing Committees on Conflicts and Professional Responsibility. He co-founded and is a past chair of the Eastern District of Pennsylvania Bankruptcy Conference and has taught the corporate bankruptcy seminar at the University of Pennsylvania Law School. A principal draftsperson of Pennsylvania's Rules of Professional Conduct, he is the six-term former chair of the Pennsylvania Bar Association's Committee on Legal Ethics. Mr. Bloom served as chair of the Pennsylvania Bar Association Judicial Evaluation Commission. He is a recipient of many awards for teaching and legal ethics and received the Equal Justice Award presented by Community Legal Services, Inc. Within the community, he serves currently as Emeritus Trustee of Dickinson College and the Advisory Boards of the Homeless Advocacy Project and the Consumer Bankruptcy Assistance Project. Mr. Bloom also is an active speaker on the topic of conflicts, professional responsibility, and risk management. About The Honorable Ursula Ungaro Hon. Ursula Ungaro is a Partner at the law firm Boies Schiller Flexner and served as a United States District Judge in the Southern District of Florida for 29 years. Her judicial experience also includes five years as a Florida state trial judge. Before becoming a judge, she was a litigator in Miami and a partner in two prestigious law firms, specializing in complex commercial litigation. While a federal judge, Judge Ungaro presided over a significant caseload, including high-profile matters, and served on the Eleventh Circuit Court of Appeals as a visiting judge. She was a member of the Judicial Resources Committee of the Judicial Conference of the United States, which is responsible for making compensation and other human resource-related recommendations to the Chief Justice of the United States Supreme Court. She also served as Chair of the Southern District of Florida's Clerks Committee and the Magistrate Judges Committee, as a trial judge on the Eleventh Judicial Circuit of the State of Florida, and on the Florida Supreme Court Race and Bias Commission. Judge Ungaro currently serves on the Family Learning Partnership board and participates in CARE Court, a court-assisted reentry program for moderate- and high-risk offenders recently released from prison. She also serves as a director on the board of a public company, Longeveron. About The Honorable Judge Patrick J. Riley Hon. Patrick J. Riley began his career serving as an Assistant District Attorney in the Essex County Superior Courts of Massachusetts, later entering private practice and establishing Riley, Burke & Donahue, LLP, focusing on civil and criminal trials. In 2002, he was appointed as an Associate Justice of the Superior Court for the Commonwealth of Massachusetts, with jurisdiction of Civil, Criminal, and Equity matters. Post-retirement, Judge Riley has served as an Independent Trustee/Director, currently serving as Chairman of the Board and Independent Trustee of The SSGA Combined Mutual Fund Board, providing oversight and governance to several '40 Act registered product lines. He previously served in Dublin, Ireland as the Independent Chairman of the Board and Director of the SSGA SPDR ETFs Europe 1, plc, and SSGA SPDR ETFs Europe II, plc, Dublin, Ireland-a complex of more than 100 ETFs distributed throughout EMEA and the world except the USA; an Independent Director, The State Street Global Advisors Liquidity, plc, Dublin, Ireland; an Independent Director, The State Street Global Advisors Windwise Funds, plc, Dublin, Ireland. The State Street engagements encompassed being an independent director/trustee chairman of boards with oversight, governance, and compliance review for more than 75 Mutual Funds, UCITS, and ETFs in multi-jurisdictional and regulatory environments with more than $500 billion dollars of AUM. ### CONTACT: Randall Smalley Cruise America, Inc. 602-725-0883 [email protected]China set to narrow digital divideDefiant Adani says committed to compliance after US indictment
NoneXavier Becerra Says 'We Do the Best We Can' After HHS Loses Contact with Thousands of Migrant ChildrenClick celebrates significant growth milestones while introducing a new initiative to support and empower photojournalists in sharing authentic, impactful stories through the platform. SAN FRANCISCO , Dec. 11, 2024 /PRNewswire/ -- Click , a groundbreaking mobile app that fights misinformation by making it simple to capture and publish authenticated content, powered by the Nodle Network , has recently launched the Click Photojournalism Fellowship, to empower photojournalists to join Click's mission to build a more truthful future. Joining the fellowship will give photojournalists exposure of their work via the Click app and Nodle Network and allow each photojournalist to share their stories and their photos. Additionally, Click has just reached two growth milestones in its first year of operation, passing 50,000 users and over 1,000 new photos authenticated by Click daily. These follow Click's public beta launch in March. The Click camera app is currently available for download on both iOS or Android , and all content captured with Click can be accessed through the app and on Click's website at clickapp.com . The first two photojournalists to join the Click Fellowship are: "We're thrilled to collaborate with photojournalists, empowering them to share their authentic stories through Click. In an era where digital content authenticity is crucial, we're leveraging blockchain to support journalists in building transparency and trust. The Click Photojournalism Fellowship sets a new standard for credibility in journalistic content on social media," says Micha Benoliel , CEO and co-founder of Intergalactic Labs, the team behind Click and Nodle. Click aims to grow the fellowship to over 20 photojournalists in early 2025 and is currently seeking more photojournalist partners. Photojournalists who join the program will share their recent work via Click's blog (both Click and non-Click photos), that represent their photojournalistic perspective, share their journalist story and be promoted across the Click and Nodle communities. Journalists will also provide feedback on the Click app periodically via scheduled sessions with Click's team. To apply and join the fellowship, photojournalists can fill out this short application and share samples of their work. About Click: Click is a new mobile app empowering everyone to easily create authentic media content. Click is on a mission to combat misinformation and bring truthful photos and videos aka "Deep Reals" to everyone via immutable digital proofs of authenticity. With Click, you can confirm content is real and happened at a specific location, time and via a specific mobile device and camera. This is all made possible by ContentSign , Click's proprietary technology which proves the integrity of data from its moment of capture on-chain. Click is built on ZKsync , the leading Ethereum Layer 2 blockchain and is powered by the Nodle DePIN. Click supports the Coalition for Content Provenance and Authenticity (C2PA) and is a member of the Adobe-led Content Authenticity Initiative (CAI). Download Click on iOS or Android and visit us at clickapp.com to learn more and see recent press coverage. View original content to download multimedia: https://www.prnewswire.com/news-releases/click-camera-app-announces-new-photojournalism-fellowship-as-app-reaches-50-000-users-signing-1-000-authenticated-photos-daily-302329583.html SOURCE Nodle
North Korea Reports South Korea's Martial Law Crisis for First TimePositive vibes from China
Article content Conservative Leader Pierre Poilievre lashed out at Prime Minister Justin Trudeau a day after two separate protests in Montreal became violent Friday night. Recommended Videos Trudeau’s hometown was the sight of demonstrations for a second straight day, organized by the groups Divest for Palestine and the Convergence of Anti-Capitalist Struggles. The city is hosting about 300 delegates from NATO members and partner countries over four days, where the discussion is expected to focus on Ukraine, climate change and the alliance’s future. However, the pro-Palestinian and anti-NATO protesters converged and smashed windows, clashed with police and set two vehicles on fire , reports the Montreal Gazette . One person was seen setting fire to an effigy of Israeli Prime Minister Benjamin Netanyahu. Three people were arrested, accused of assaulting and obstructing cops. Trudeau said he condemned the violence in a statement released at noon on Saturday. “What we saw on the streets of Montreal last night was appalling. Acts of antisemitism, intimidation, and violence must be condemned wherever we see them,” he wrote. “The RCMP are in communication with local police. There must be consequences, and rioters held accountable.” What we saw on the streets of Montreal last night was appalling. Acts of antisemitism, intimidation, and violence must be condemned wherever we see them. The RCMP are in communication with local police. There must be consequences, and rioters held accountable. On social media, critics of Trudeau — including Poilievre — juxtaposed the Prime Minister, who was captured on video dancing at a Taylor Swift concert in Toronto, with images of the violent and antisemitic behaviour in Montreal. Terrorism on our streets and Trudeau doesn't care. Pro-Hamas riots are taking place in Montreal, meanwhile Trudeau is at a Taylor Swift concert displaying his cringe dance moves. pic.twitter.com/0wpXUgRNFa Nothing can explain the current situation in Canada better than these two events that happened simultaneously. On the left: Montréal is burning and Hamas supporters are also burning effigies of Jews on the streets. On the right: Justin Trudeau, crime minister of Canada, is... pic.twitter.com/4IsOFxBf6N “You act surprised. We are reaping what you sowed,” Poilievre began his response to Trudeau in a lengthy post on X. “This is what happens when a Prime Minister spends nine years pushing toxic woke identity politics, dividing and subdividing people by race, gender, vaccine status, religion, region, age, wealth, etc.” You act surprised. We are reaping what you sowed. This is what happens when a Prime Minister spends 9 years pushing toxic woke identity politics, dividing and subdividing people by race, gender, vaccine status, religion, region, age, wealth, etc. On top of driving people apart,... https://t.co/FkEAPCnY6g Poilievre continued, pointing out how the Prime Minister continues to drive people apart and “systematically break what used to bring us together, saying Canada is a ‘post-national state’ with ‘no core identity.'” “You erased our veterans and military, the Famous Five and even Terry Fox from our passport to replace them with meaningless squirrels, snowflakes and a drawing of yourself swimming as a boy,” Poilievre added. The Opposition Leader then turned to border security and rampant criminality affecting the country. “You opened the borders to terrorists and lawbreakers and called anyone who questioned it racist,” he wrote. “You send out your MPs to say one thing in a mosque and the opposite in a synagogue, one thing in a mandir and the opposite in a gurdwara. “You have made Canada a playground for foreign interference. You allowed Iran’s IRGC terrorists to legally operate here for four years after they murdered 55 of our citizens in a major unprovoked attack. “You passed laws that release rampant offenders from prison within hours of their 80th arrest. “And what is the result? Assassinations on Canadian soil, firebombings of synagogues, extremist violence against mandirs and gurdwaras, over 100 churches burned or vandalized (with barely any condemnation from you), all for a total 251% more hate crime.” All on Trudeau’s watch, he added, before taking a swipe at the PM for having a good time at the Taylor Swift concert on the same day as the riots. “And, while you were dancing, Montreal was burning,” Poilievre wrote. “We won’t let you divide us anymore. Call an election now,” he demanded. “We will fire you and reclaim our citizenship, our values, our lives, our freedom and, most of all, our country.”Man City collapse ‘difficult to swallow’ – Pep GuardiolaDAYTONA BEACH, Fla. (AP) — Ian Schieffelin had 18 points, 13 rebounds and eight assists in leading Clemson to a 75-67 win over Penn State on Tuesday and the championship of the Sunshine Slam Beach Division. Chase Hunter added 17 points, Chauncey Wiggins 14 and Del Jones 10 for the Tigers (6-1), who shot 44% and made 9 of 19 3-pointers led by Hunter's three. Ace Baldwin Jr. scored 20 points and had 11 assists, Yanic Konan Niederhauser added 14 points and Nick Kern Jr. 11 for the Nittany Lions (6-1), who shot 46% and were just 4 of 18 from the arc. Neither team had a double-digit lead in the game and it was tied with seven minutes to go. But Penn State had a six-minute drought without a field goal while committing three turnovers and the Tigers went up by six. A hook shot from Schieffelin with a minute to go made it a five-point lead and free throws sealed it from there. The eight-point final margin was the largest of the game. Konan Niederhauser's dunk to open the second half tied the game but a Hunter 3-pointer gave the lead back to Clemson. Penn State took its first lead of the second half on a 9-0 run, seven coming from Baldwin, to go up 57-54 with midway through the period. Penn State had its largest lead of seven in the first half but three consecutive 3s put Clemson ahead with three minutes to go and the Tigers led at 38-36 at halftime. Clemson had a 16-9 edge on points off turnovers. ___ Get poll alerts and updates on the AP Top 25 throughout the season. Sign up here . AP college basketball: https://apnews.com/hub/ap-top-25-college-basketball-poll and https://apnews.com/hub/college-basketball