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NEW YORK (AP) — Wall Street got back to climbing after the latest update on inflation appeared to clear the way for more help for the economy from the Federal Reserve. The S&P 500 gained 0.8% Wednesday to break a two-day losing streak and finished just short of its all-time high. Big Tech stocks led the way, which drove the Nasdaq composite up 1.8% to top the 20,000 level for the first time. The Dow Jones Industrial Average lagged with a dip of 0.2%. Stocks got a boost as expectations built that the Fed will deliver another cut to interest rates at its meeting next week. THIS IS A BREAKING NEWS UPDATE. AP’s earlier story follows below. NEW YORK (AP) — U.S. stock indexes are rising Wednesday after the latest update on inflation appeared to clear the way for more help for the economy from the Federal Reserve . The S&P 500 gained 0.9% and is on track to break its first two-day losing streak in nearly a month. The Dow Jones Industrial Average fell 7 points, or less than 0.1%, as of 2:45 p.m. Eastern time, and the Nasdaq composite climbed 1.8% and was heading for a record. Treasury yields edged higher in the bond market as expectations built that Wednesday’s inflation data will allow the Fed to deliver another cut to interest rates at its meeting next week. Traders are betting on a 95% probability of that, according to data from CME Group, up from 89% a day before. If they’re correct, it would be a third straight cut by the Fed after it began lowering rates in September from a two-decade high. It’s hoping to support a slowing job market after getting inflation nearly all the way down to its 2% target. Lower rates would give a boost to the economy, but they could also provide more fuel for inflation. Wednesday’s report said U.S. consumers paid prices in November that were 2.7% higher than a year earlier. That’s a slight acceleration from October’s inflation rate of 2.6%, but it was exactly what economists were expecting. Another report on inflation at the wholesale level will arrive on Thursday. “The data have given the Fed the ‘all clear’ for next week, and today’s inflation data keep a January cut in active discussion,” according to Ellen Zentner, chief economic strategist for Morgan Stanley Wealth Management. Expectations for a series of cuts to rates by the Fed have been one of the main reasons the S&P 500 has set an all-time high 57 times this year , with the latest coming last week. On Wall Street, Stitch Fix jumped 47.8% after the company that sends clothes to your door reported a smaller loss for the latest quarter than analysts expected. It also gave financial forecasts for the current quarter that were better than expected, including for revenue. Albertsons edged down by 0.6% after filing a lawsuit against Kroger, saying it didn’t do enough for their proposed $24.6 billion merger agreement to win regulatory clearance. Albertsons said it’s seeking billions of dollars in damages from Kroger, whose stock rose 0.6%. A day earlier, judges in separate cases in Oregon and Washington nixed the supermarket giants’ merger. The grocers contended a combination could have helped them compete with big retailers like Walmart, Costco and Amazon, but critics said it would hurt competition. After terminating the merger agreement Albertsons said it plans to boost its dividend 25% and increased the size of its program to buy back its own stock. Mondelez, the company behind Oreo and other food brands, climbed 2.2% after announcing a plan to send cash to shareholders by buying back up to $9 billion of its own stock. The program replaces a prior $6 billion plan, which had about $2.8 billion of capacity remaining and would have otherwise expired at the end of next year. On the losing end of Wall Street, Macy’s fell 2.3% after cutting some of its financial forecasts for the full year of 2024, including for how much profit it expects to make off each $1 of revenue. Dave & Buster’s Entertainment sank 18.7% after reporting a worse loss for the latest quarter than expected. It also said CEO Chris Morris has resigned, and the board has been working with an executive-search firm for the last few months to find its next permanent leader. In the bond market, the yield on the 10-year Treasury rose to 4.27% from 4.23% late Tuesday. The two-year Treasury yield, which more closely tracks expectations for the Fed, rose to 4.16% from 4.14%. In stock markets abroad, indexes rose across much of Europe and Asia. Hong Kong’s Hang Seng was an outlier and slipped 0.8% as Chinese leaders convened an annual planning meeting in Beijing that is expected to set economic policies and growth targets for the coming year. South Korea’s Kospi rose 1%, up for a second straight day as it climbs back following last week’s political turmoil where its president briefly declared martial law. ___ AP Writers Matt Ott and Zimo Zhong contributed. Stan Choe, The Associated PressMutual of America Capital Management LLC reduced its position in Glacier Bancorp, Inc. ( NASDAQ:GBCI – Free Report ) by 5.6% during the third quarter, Holdings Channel.com reports. The firm owned 61,285 shares of the bank’s stock after selling 3,633 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Glacier Bancorp were worth $2,801,000 as of its most recent SEC filing. Several other hedge funds have also bought and sold shares of the business. Natixis Advisors LLC lifted its position in Glacier Bancorp by 30.9% in the 3rd quarter. Natixis Advisors LLC now owns 331,121 shares of the bank’s stock valued at $15,132,000 after acquiring an additional 78,107 shares in the last quarter. Royce & Associates LP raised its stake in shares of Glacier Bancorp by 25.5% in the third quarter. Royce & Associates LP now owns 122,757 shares of the bank’s stock worth $5,610,000 after purchasing an additional 24,915 shares during the last quarter. OneDigital Investment Advisors LLC bought a new position in shares of Glacier Bancorp in the third quarter valued at approximately $252,000. Victory Capital Management Inc. boosted its position in shares of Glacier Bancorp by 0.4% during the third quarter. Victory Capital Management Inc. now owns 1,534,667 shares of the bank’s stock valued at $70,134,000 after buying an additional 6,394 shares during the last quarter. Finally, Venturi Wealth Management LLC boosted its position in shares of Glacier Bancorp by 44.8% during the third quarter. Venturi Wealth Management LLC now owns 2,995 shares of the bank’s stock valued at $137,000 after buying an additional 927 shares during the last quarter. Institutional investors and hedge funds own 80.17% of the company’s stock. Glacier Bancorp Trading Up 2.2 % Shares of Glacier Bancorp stock opened at $58.33 on Friday. The stock has a fifty day moving average price of $49.78 and a 200-day moving average price of $43.67. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.80 and a quick ratio of 0.80. The firm has a market cap of $6.61 billion, a PE ratio of 36.01 and a beta of 0.77. Glacier Bancorp, Inc. has a 1 year low of $32.00 and a 1 year high of $59.19. Glacier Bancorp Dividend Announcement The business also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Tuesday, December 10th will be issued a $0.33 dividend. The ex-dividend date of this dividend is Tuesday, December 10th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.26%. Glacier Bancorp’s dividend payout ratio (DPR) is presently 81.48%. Wall Street Analyst Weigh In GBCI has been the topic of several recent analyst reports. Piper Sandler raised their price objective on Glacier Bancorp from $42.00 to $45.00 and gave the company a “neutral” rating in a research note on Monday, October 28th. Truist Financial raised their price target on shares of Glacier Bancorp from $50.00 to $53.00 and gave the company a “hold” rating in a research report on Monday, October 28th. Finally, Raymond James upped their price objective on shares of Glacier Bancorp from $45.00 to $48.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 2nd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $46.20. View Our Latest Analysis on GBCI Glacier Bancorp Profile ( Free Report ) Glacier Bancorp, Inc operates as the bank holding company for Glacier Bank that provides commercial banking services to individuals, small to medium-sized businesses, community organizations, and public entities in the United States. The company offers retail banking, business banking, and mortgage origination and loan servicing services. Further Reading Want to see what other hedge funds are holding GBCI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Glacier Bancorp, Inc. ( NASDAQ:GBCI – Free Report ). Receive News & Ratings for Glacier Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Glacier Bancorp and related companies with MarketBeat.com's FREE daily email newsletter .
WASHINGTON (AP) — President-elect Donald Trump has promised to end birthright citizenship as soon as he gets into office to make good on campaign promises aiming to restrict immigration and redefining what it means to be American. But any efforts to halt the policy would face steep legal hurdles. Birthright citizenship means anyone born in the United States automatically becomes an American citizen. It's been in place for decades and applies to children born to someone in the country illegally or in the U.S. on a tourist or student visa who plans to return to their home country. It's not the practice of every country, and Trump and his supporters have argued that the system is being abused and that there should be tougher standards for becoming an American citizen. But others say this is a right enshrined in the 14th Amendment to the Constitution, it would be extremely difficult to overturn and even if it's possible, it's a bad idea. Here's a look at birthright citizenship, what Trump has said about it and the prospects for ending it: During an interview Sunday on NBC’s “Meet the Press” Trump said he “absolutely” planned to halt birthright citizenship once in office. “We’re going to end that because it’s ridiculous,” he said. Trump and other opponents of birthright citizenship have argued that it creates an incentive for people to come to the U.S. illegally or take part in “birth tourism,” in which pregnant women enter the U.S. specifically to give birth so their children can have citizenship before returning to their home countries. “Simply crossing the border and having a child should not entitle anyone to citizenship,” said Eric Ruark, director of research for NumbersUSA, which argues for reducing immigration. The organization supports changes that would require at least one parent to be a permanent legal resident or a U.S. citizen for their children to automatically get citizenship. Others have argued that ending birthright citizenship would profoundly damage the country. “One of our big benefits is that people born here are citizens, are not an illegal underclass. There’s better assimilation and integration of immigrants and their children because of birthright citizenship,” said Alex Nowrasteh, vice president for economic and social policy studies at the pro-immigration Cato Institute. In 2019, the Migration Policy Institute estimated that 5.5 million children under age 18 lived with at least one parent in the country illegally in 2019, representing 7% of the U.S. child population. The vast majority of those children were U.S. citizens. The nonpartisan think tank said during Trump’s campaign for president in 2015 that the number of people in the country illegally would “balloon” if birthright citizenship were repealed, creating “a self-perpetuating class that would be excluded from social membership for generations.” In the aftermath of the Civil War, Congress ratified the 14th Amendment in July 1868. That amendment assured citizenship for all, including Black people. “All persons born or naturalized in the United States and subject to the jurisdiction thereof, are citizens of the United States and of the State wherein they reside,” the 14th Amendment says. “No State shall make or enforce any law which shall abridge the privileges or immunities of citizens of the United States.” But the 14th Amendment didn't always translate to everyone being afforded birthright citizenship. For example, it wasn't until 1924 that Congress finally granted citizenship to all Native Americans born in the U.S. A key case in the history of birthright citizenship came in 1898, when the U.S. Supreme Court ruled that Wong Kim Ark, born in San Francisco to Chinese immigrants, was a U.S. citizen because he was born in the states. The federal government had tried to deny him reentry into the county after a trip abroad on grounds he wasn’t a citizen under the Chinese Exclusion Act. But some have argued that the 1898 case clearly applied to children born of parents who are both legal immigrants to America but that it's less clear whether it applies to children born to parents without legal status or, for example, who come for a short-term like a tourist visa. “That is the leading case on this. In fact, it’s the only case on this,” said Andrew Arthur, a fellow at the Center for Immigration Studies, which supports immigration restrictions. “It’s a lot more of an open legal question than most people think.” Some proponents of immigration restrictions have argued the words “subject to the jurisdiction thereof” in the 14th Amendment allows the U.S. to deny citizenship to babies born to those in the country illegally. Trump himself used that language in his 2023 announcement that he would aim to end birthright citizenship if reelected. Trump wasn't clear in his Sunday interview how he aims to end birthright citizenship. Asked how he could get around the 14th Amendment with an executive action, Trump said: “Well, we’re going to have to get it changed. We’ll maybe have to go back to the people. But we have to end it.” Pressed further on whether he'd use an executive order, Trump said “if we can, through executive action." He gave a lot more details in a 2023 post on his campaign website . In it, he said he would issue an executive order the first day of his presidency, making it clear that federal agencies “require that at least one parent be a U.S. citizen or lawful permanent resident for their future children to become automatic U.S. citizens.” Trump wrote that the executive order would make clear that children of people in the U.S. illegally “should not be issued passports, Social Security numbers, or be eligible for certain taxpayer funded welfare benefits.” This would almost certainly end up in litigation. Nowrasteh from the Cato Institute said the law is clear that birthright citizenship can’t be ended by executive order but that Trump may be inclined to take a shot anyway through the courts. “I don’t take his statements very seriously. He has been saying things like this for almost a decade," Nowrasteh said. "He didn’t do anything to further this agenda when he was president before. The law and judges are near uniformly opposed to his legal theory that the children of illegal immigrants born in the United States are not citizens." Trump could steer Congress to pass a law to end birthright citizenship but would still face a legal challenge that it violates the Constitution. Associated Press reporter Elliot Spagat in San Diego contributed to this report. Copyright 2024 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission.
(Web Desk): YouTube has unveiled a new enhancement to its ‘Dream Screen’ feature for Shorts, allowing creators to generate AI-powered video backgrounds. Previously, Dream Screen could only generate static image backgrounds, but this update integrates Google DeepMind’s AI video-generation model, Veo, which produces 1080p video clips in various cinematic styles. To use the new functionality, creators need to access the Shorts camera, tap the “green screen” icon, and select “Dream Screen.” From there, they can enter a text prompt, such as “candy landscape” or “magical forest with a stream,” choose an animation style, and then click “Create.” The feature will generate a series of video background options for users to select from, allowing them to record their Shorts with these AI-created backgrounds. YouTube highlights the potential of this feature for creating unique content, like placing oneself in a favorite book’s setting or crafting an animated opening. Looking ahead, YouTube plans to expand the tool’s capabilities, enabling creators to generate standalone six-second video clips for Shorts. Notably, this new feature gives YouTube an edge over TikTok, as the latter only offers AI-generated image backgrounds and does not yet support video backgrounds. The Dream Screen video feature is currently available to creators in the United States, Canada, Australia, and New Zealand.These holiday gifts change the game when building fires, printing photos, watching birds and more
NoneNEW YORK, Dec. 11, 2024 (GLOBE NEWSWIRE) -- Protara Therapeutics, Inc. TARA , a clinical-stage company developing transformative therapies for the treatment of cancer and rare diseases, today announced the closing of its underwritten public offering of 13,690,000 shares of its common stock at a public offering price of $6.25 per share and pre-funded warrants to purchase 2,325,372 shares of common stock at a price of $6.249 per pre-funded warrant, which represents the per share price for the common stock less the $0.001 per share exercise price for each such pre-funded warrant. In addition, Protara has granted the underwriters a 30-day option to purchase up to an additional 2,402,305 shares of common stock at the public offering price, less underwriting discounts and commissions. The gross proceeds from the offering were approximately $100 million before deducting underwriting discounts and commissions and offering expenses payable by Protara and excluding any exercise of the underwriters' option to purchase additional shares and the exercise of any pre-funded warrants. Protara intends to use the net proceeds received from the offering to fund the clinical development of TARA-002, as well as the development of other clinical programs. Protara may also use the net proceeds from the offering for working capital and other general corporate purposes. TD Cowen, Cantor, LifeSci Capital, Oppenheimer & Co. and Scotiabank acted as joint book-running managers of the offering. The shares of common stock and the pre-funded warrants were issued pursuant to an effective shelf registration statement on Form S-3 (File No. 333-275290) that was declared effective on November 14, 2023 by the U.S. Securities and Exchange Commission. The offering was made only by means of a prospectus supplement and the accompanying prospectus. Copies of the final prospectus supplement and the accompanying prospectus relating to the offering may be obtained from the offices of TD Securities (USA) LLC, 1 Vanderbilt Avenue, New York, New York 10017, by email at TD.ECM_Prospectus@tdsecurities.com or by telephone at (855) 495-9846; Cantor Fitzgerald & Co., 110 East 59th Street, 6th Floor, New York, New York 10022, Attention: Capital Markets, or by email at prospectus@cantor.com; or LifeSci Capital LLC, 1700 Broadway, 40th Floor, New York, New York 10019, or by email at compliance@lifescicapital.com . This press release shall not constitute an offer to sell or a solicitation of an offer to buy any of these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the applicable securities laws of such state or jurisdiction. Forward-looking Statements Statements contained in this press release regarding matters that are not historical facts are "forward looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Protara may, in some cases, use terms such as "predicts," "believes," "potential," "proposed," "continue," "designed," "estimates," "anticipates," "expects," "plans," "intends," "may," "could," "might," "will," "should" or other words or expressions referencing future events, conditions or circumstances that convey uncertainty of future events or outcomes to identify these forward-looking statements. Investors are cautioned that any forward-looking statements, including statements regarding the expected use of proceeds therefrom, are not guarantees of future performance or results and involve substantial risks and uncertainties. Actual results, developments and events may differ materially from those in the forward-looking statements as a result of various factors including Protara's expectations related to the use of proceeds from the offering. Additional important factors to be considered in connection with forward-looking statements, including additional risks and uncertainties, are described more fully under the caption "Risk Factors" and elsewhere in Protara's filings and reports with the Securities and Exchange Commission. All forward-looking statements contained in this press release speak only as of the date on which they were made. Protara undertakes no obligation to update any forward-looking statements, whether as a result of the receipt of new information, the occurrence of future events or otherwise, except as required by law. Company Contact: Justine O'Malley Protara Therapeutics Justine.OMalley@protaratx.com 646-817-2836 © 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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WWE returns to Madison Square Garden for a Raw taping in march, and the pre-sale code is online. WWE announced the March 10th taping at last night’s live event in the venue, and the online pre-sale starts on January 8th with a January 10th general public sale. As you can see below via the MSG Twitter account, the pre-sale code is SOCIAL . JUST ANNOUNCED: For the first time in three years, WWE returns to The Garden with Monday Night RAW on Mar 10! Access venue presale tickets starting Wed, Jan 8 at 10am with code SOCIAL. Tickets go on sale to the general public on Fri, Jan 10 at 10am. pic.twitter.com/eKYVZvJkY2 — MSG (@TheGarden) December 27, 2024Saskatchewan auditor concerned with tracking foreign ownership of farmland