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Zagreb, Dec 29 (AP) Croatia's incumbent President Zoran Milanovic has a sweeping lead in Sunday's election and could win the five-year presidency in the first round, according to an exit poll released immediately after the voting. The poll by the Ipsos polling agency and released by the state HRT television showed Milanovic winning over 50 per cent of the votes, while his main challenger Dragan Primorac, a candidate of the conservative HDZ ruling party trailed far behind with 19 per cent. Also Read | Mikheil Kavelashvili, Former Georgian Footballer, Sworn In As Georgia's President (Watch Video). Milanovic thanked voters in a post on social networks. The first official results are yet to be published. Also Read | China: Lottery Winner Defrauded of INR 11.5 Crore, yet To Receive Winnings Despite Court Victory. Pre-election polls predicted that the two would face off in the second round on January 12, as none of all 8 presidential election contenders were projected to get more than 50 per cent of the vote. Left-leaning Milanovic is an outspoken critic of Western military support for Ukraine in its war against Russia. He is often compared to Donald Trump for his combative style of communication with political opponents. The most popular politician in Croatia, 58-year-old Milanovic has served as prime minister in the past. Populist in style, he has been a fierce critic of current Prime Minister Andrej Plenkovic and continuous sparring between the two has lately marked Croatia's political scene. Plenkovic, the prime minister, has sought to portray the vote as one about Croatia's future in the EU and NATO. He has labelled Milanovic “pro-Russian” and a threat to Croatia's international standing. “The difference between him and Milanovic is quite simple: Milanovic is leading us East, Primorac is leading us West,” he said. Though the presidency is largely ceremonial in Croatia, an elected president holds political authority and acts as the supreme military commander. Milanovic has criticised the NATO and European Union support for Ukraine and has often insisted that Croatia should not take sides. He has said Croatia should stay away from global disputes, though it is a member of both NATO and the EU. Milanovic has also blocked Croatia's participation in a NATO-led training mission for Ukraine, declaring that “no Croatian soldier will take part in somebody else's war.” His main rival in the election, Primorac, has stated that “Croatia's place is in the West, not the East.” His presidency bid, however, has been marred by a high-level corruption case that landed Croatia's health minister in jail last month and featured prominently in pre-election debates. During the election campaign, Primorac has sought to portray himself as a unifier and Milanovic as divisive. “Today is an extremely important day,” Primorac said after casting his ballot. "Croatia is going forward into the future. Croatia needs unity, Croatia needs its global positioning, and above all Croatia needs peaceful life.” Trailing a distant third in the pre-election polls is Marija Selak Raspudic, a conservative independent candidate. She has focused her election campaign on the economic troubles of ordinary citizens, corruption and issues such as population decline in the country of some 3.8 million. Sunday's presidential election is Croatia's third vote this year, following a parliamentary election in April and the European Parliament balloting in June. (AP) (This is an unedited and auto-generated story from Syndicated News feed, LatestLY Staff may not have modified or edited the content body)Allar puts critics on mute, keeps winning for Penn State
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Diane Moss lost her home in the Santa Monica Mountains after power lines ignited the apocalyptic Woolsey Fire in 2018. Since then, she’s pressed for a safer electric grid in California. “It’s so easy to forget the risk that we live in — until it happens to you,” said Moss, a longtime clean energy advocate. “All of us in California have to think about how we better prepare to survive disaster, which is only going to be more of a problem as the climate changes.” In recent years, California’s power companies have been doing just that: insulating power lines and burying lines underground, trimming trees, deploying drones and using risk-detection technology. As wildfires across the U.S. intensify , California is on the leading edge of efforts to prevent more deadly and destructive fires ignited by downed power lines and malfunctioning equipment. Customers have shouldered a hefty price for wildfire safety measures. From 2019 through 2023, the California Public Utilities Commission authorized the three largest utilities to collect $27 billion in wildfire prevention and insurance costs from ratepayers, according to a report to the Legislature. And the costs are projected to keep rising: The three companies — Pacific Gas & Electric, Southern California Edison and San Diego Gas & Electric — continue to seek billions more from customers for wildfire prevention spending. Rates are expected to continue outpacing inflation through 2027 . Fire safety projects are a big part of the reason that Californians pay the highest electric rates in the nation, outside of Hawaii. Other reasons include rooftop solar incentives, new transmission systems and upgrades for electric vehicles. High electric bills have helped fuel a statewide affordability crisis alongside soaring housing prices, expensive groceries and costly gasoline. Small businesses are feeling the burden, along with the state’s poorest residents: One in three low-income households served by the three utilities fell behind in paying their power bills this year. California’s three investor-owned utilities are regulated monopolies, so when they spend money on costs related to wildfires, they recover it through customers’ bills. The price of electricity has ignited debate about how much California families should bear for the cost of wildfire prevention, whether utilities are balancing risk and affordability and whether the money is being spent wisely. Loretta Lynch, a former head of the state utilities commission, said lack of oversight is a problem, with the commission “rubber-stamping outrageous costs” and allowing the companies to “address wildfires in the most expensive, least effective way possible.” One of the biggest controversies is whether the utilities should be spending so much on burying power lines, an extremely costly and slow process. Last year, a state audit concluded that the utilities commission and the state’s advocates office must do more to verify whether utilities were completing the work they sought payment for. The three companies say the billions of dollars in spending is necessary as climate change worsens wildfires across the state . Utility equipment has caused less than 10% of the state’s fires but nearly half of its most destructive fires, according to the utilities commission . PG&E, which a few years ago came out of bankruptcy triggered by its liability for several deadly, destructive fires, has adopted the stance that “catastrophic wildfires shall stop.” The company, which serves the most high-risk areas in California, is the state’s largest spender on wildfire prevention. PG&E plans to bury 10,000 miles of power lines in its highest-risk areas — work that is highly contentious because it is costly and slow. The company has buried 800 miles since 2021 , with each mile costing between $3 and $4 million. Last year, the commission approved a $3.7 billion plan for PG&E to bury 1,230 miles of lines through 2026. Sumeet Singh, PG&E’s chief operating officer, told CalMatters that the utility is concerned about rates, too. He said the company is “very committed to stabilizing our customer rates as we go forward without compromising safety. I think that’s clear, that it’s a non-negotiable....There’s a pretty robust process, and oversight, that we are under.” Kevin Geraghty, chief operating officer of SDG&E, called the wildfire spending process “the most highly-scrutinized, regulatory utility process I have ever been involved in, in my life.” Gov. Gavin Newsom issued an executive order in October aimed at tackling the high costs of electricity, asking state agencies to evaluate their oversight of wildfire projects and ensure that the utilities are focused on “cost-effective” measures. He is seeking proposals for changes in rules or laws by Jan. 1. The spark for the increased spending came seven years ago, after California suffered one of its worst droughts and a series of devastating wildfires in 2017 and 2018, many ignited by utility equipment. Sixteen fires were caused by PG&E equipment during a rash of October 2017 fires that decimated Napa, Sonoma and other Northern California counties. That December, the Thomas Fire , sparked by Southern California Edison equipment, engulfed parts of Ventura and Santa Barbara counties. But the devastation of 2017 was only a prelude to an even graver year. On Nov. 8, 2018, the Camp Fire leveled the town of Paradise, killing 85 people, making it the deadliest wildfire in state history. The Camp Fire was caused by the failure of an old metal hook attached to a PG&E transmission tower. An intense wind event pushed the fire at a rate of roughly 80 football fields per minute at its peak. The company in 2020 pleaded guilty to 84 counts of involuntary manslaughter for its role in the disaster. The same day as the destruction in Paradise, another fire ignited some 470 miles south. In the Simi Hills of Ventura County, Southern California Edison wires in two separate locations made contact with others, triggering “arc” flashes that rained hot metal fragments and sparks onto the dry brush below. These triggered two blazes, which soon merged to form the Woolsey Fire. Santa Ana winds spread the conflagration across parched terrain, with swaths of the nationally protected Santa Monica Mountains reduced to ash. Moss, the clean energy advocate, evacuated her home with her son that day. Her husband, clinging to hope, stayed until the blaze threatened to swallow him whole. Their neighborhood near Malibu, with its heavily wooded surroundings, was no match for the inferno. “My husband stayed until the last minute, when it just — it looked like it could cost him his life,” Moss said. “Everybody else left, and just about all of us lost.” Three people died. Moss’ home was gone, reduced to a hollowed out structure and charred rubble, along with about 100,000 acres of parkland and wilderness , more than any other fire in recorded history for that area. In 2019, downed PG&E lines ignited Sonoma County’s Kincade Fire . Then two years later, the Dixie Fire , also caused by PG&E equipment, became the second largest wildfire in California history, burning 963,000 acres north of Chico. The 2021 Dixie Fire, which claimed one life and destroyed 1,311 structures, was the last catastrophic wildfire in California confirmed to be caused by utility equipment. The number of fires triggered by the companies’ equipment fluctuates from year to year, driven by the huge variability in California’s weather. But data from 2014 through 2023 indicate there were substantially fewer fires last year than in other recent years. SDG&E equipment caused 16 fires after its high of 32 fires in 2015, Southern California Edison had 90 fires, compared to a 2021 high of 173, and PG&E reported 374 fires after a high of 510 in 2020. PG&E also reported that fires in its highest-risk areas trended down every month of 2023 compared to the same months in previous years. But that progress reversed this year, with 62 fires reported by August in high-risk areas, compared to 65 in all of 2023. (PG&E would not provide 2024 fire data to CalMatters.) Caroline Thomas Jacobs, inaugural director of the state Office of Energy Infrastructure Safety, established in 2021 to oversee utility safety, said progress can be hard to measure. Nevertheless, she said she has seen a cultural shift at electric companies in recent years, with a more focused approach in high-risk areas and an environment that empowers workers to prioritize safety. “It just takes the wrong ignition ... under the right conditions, to have a catastrophic fire,” Thomas Jacobs said. “But are we in a better place? The numbers seem to indicate we’re moving in the right direction.” PG&E has installed more than 1,500 weather stations and 600 AI-enabled cameras to detect severe weather and ignitions, Singh said. Enhanced safety systems now cut power to lines within a tenth of a second. The utility also has cleared vegetation, ordered power shutoffs during high-risk times, insulated lines and buried some lines underground. “Where do we see the greatest risk?” Singh said the company asks itself, and “what is the most cost-effective way to be able to reduce that risk for every dollar that’s spent?” Southern California Edison said since its investments began in 2019, the risk of catastrophic wildfire in its system has dropped between 85 and 90%. The company plans to bury 600 miles of lines in high-risk areas but it is relying much more on less-expensive insulating technology, which already has been used on more than 6,000 miles of lines. SDG&E began prioritizing wildfire prevention, including underground and insulated lines, a decade ahead of the other two utilities, after its lines sparked three major fires in 2007. The company has avoided a catastrophic fire since 2007, despite operating in one of the nation’s most fire-prone regions. “We continue to double down, and do and do more tomorrow than we did yesterday,” said Brian D’Agostino, the utility’s vice president of wildfire and climate science. “We don’t take a single day without a fire for granted.” Critics say the scramble to address the wildfire crisis has left the state vulnerable to overspending by utilities. About two months before the Camp and Woolsey fires, outgoing Gov. Jerry Brown in 2018 signed a $1 billion plan to thin forests and clear out the tinderbox of California’s dead and dying trees. That measure came too late to prevent the devastation. But it opened the door to increased spending by utilities beyond limits set in the highly deliberative process known as their general rate cases, which determine what Californians pay. Newsom and the Legislature in 2019 created a $21 billion wildfire fund paid for by Wall Street investors and California ratepayers to help PG&E exit bankruptcy and protect utilities from being financially threatened by the wildfires they cause. The utilities cannot access the state’s $21 billion fund unless their wildfire plans are approved by the energy safety office. One problem, critics say, is that the safety plans are approved by one government entity while the spending to carry them out is approved by another. “We now have this very odd system,” said Lynch, who served on the utilities commission from 2000 through 2004. “The Office of Energy Infrastructure Safety reviews the plans, puts out guidelines, but then the (commission) still has to ratify the plans, so that the utilities can take money from their ratepayers.” On a temperate, clear morning in the Sierra Nevada foothills east of Placerville in October, a PG&E construction crew donned yellow jackets and safety helmets and went about the work of burying power lines along a narrow, wooded road. Overhead lines snaked through thick trees in this area — prime fire risk territory. The workers buried the lines in a trench that had been dug using a heavy piece of equipment designed to cut hard concrete and soil. Once those power lines are buried and activated, their risk of fires are all but eliminated. Burying lines in high-risk areas improves reliability amid rising wildfire risks and extreme weather, PG&E’s Singh said. Though it’s pricier up front, it eliminates the yearly expense of trimming trees and vegetation, which makes it a better, long-run value for customers, he said. “Underground is a no-brainer when you look at it from that lens,” Singh said. But the high cost and the time it takes to do the work has left some skeptical. The company has buried 800 miles of wires underground since 2021, and plans to bury more than 1,600 by the end of 2026. It aims to get the cost per mile down to $2.8 million by the end of 2026 from $3 million at the end of 2023. Michael Campbell, assistant deputy director of energy for the public advocates office, a state entity that represents utility customers, said PG&E should consider other means of preventing wildfire, like insulated wires, otherwise known as “covered conductors.” This can be deployed more quickly and at a lower cost, he said, and is effective when combined with operational techniques like fast trip settings and power safety shutoffs. “In some areas, (burying power lines) really is the correct approach to minimize risk. But it’s also very slow and very expensive, and so there’s a need to address safety in as many miles as quickly as possible, to reduce overall risk,” Campbell said. The utilities commission has taken a proof-of-concept approach: The commission scaled back PG&E’s plan to bury 2,000 miles through 2026 to 1,230. The commission approved installing covered conductors, or insulated power lines, over 778 miles. Lynch is skeptical of utilities and their big projects because they can profit from them, and Mark Toney, executive director of The Utility Reform Network, says too much spending is going unchecked. The sense of urgency following fires paved the way for the multi-billion surge in spending. The commission authorized PG&E, for instance, to spend $4.66 billion on wildfire costs from 2020 through 2022, but the company ultimately spent $11.7 billion and is seeking payment through utility bills, according to The Utility Reform Network. Audits of nearly $2.5 billion in 2019 and 2020 wildfire spending found some costs from PG&E , Southern California Edison and SDG&E may already have been covered by previously approved rates, or more documentation was needed to confirm they had not been covered. The utilities challenged many of the findings, saying they didn’t plan to claim some of the costs, and disputed the auditor’s conclusions as well as some of their calculations. In interviews with CalMatters, representatives for all three utilities said the process in place to oversee wildfire spending at the utilities commission was robust and thorough. Geraghty, of SDG&E, said the process is transparent, with public comment periods and hearings. Regarding critics who say wildfire prevention should be cheaper and faster, “every one of them had that voice, had that say, had that transparency through this entire process,” he said. Some expenses, such as operating costs, have an immediate impact on how much people pay in their bills. But other costs, such as long-term investments in insulating or burying power lines, are stretched out over years, meaning they add to bills for decades to come . Over time, these capital costs are growing due to factors like depreciation and the returns utilities are allowed to generate. This creates a compounding effect, meaning wildfire-related capital costs will take up an increasing share of what California customers are charged in the future. The burden of the rising bills is hitting many Californians hard. Roshonda Wilson, of Oakland, couldn’t afford to pay her power bill even though she said she watches television only after sunset, refrains from running unnecessary appliances and is hyper-aware of every energy-consuming action in her household. At one point PG&E turned her power off this year. “I couldn’t catch up,” she said. On the other hand, Moss — who has weathered not just the trauma of losing her home near Malibu but also the difficult process of rebuilding — says the expensive wildfire prevention work is critical to prevent more tragedies. “Even though (burying power lines) is costly and time-consuming, the cost and time of not doing it is starting to seem more devastating to a broader swath of people,” Moss said. Nevertheless, the rate hikes have alarmed climate activists who fear rising power bills in California may trigger a backlash against the state’s effort to switch to renewable energy, and influence other states, too. “The state, we fear, will start to lose the political will to keep pushing on,” said Mohit Chhabra, a senior scientist with the Natural Resources Defense Council. “The problem with that is not that California will be a few years late — we can handle that. But the impact on all the other states who are looking at California.” Natasha Uzcátegui-Liggett and Miguel Gutierrez Jr. contributed to this report.Get TECNO’s latest AI-powered PHANTOM V Flip 2 5G on its first sale for only P27,999
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Every year, in the neighborhood of 40,000 people flock to Omaha for a chance to hear Berkshire Hathaway ( BRK.A -0.39% ) ( BRK.B -0.56% ) CEO Warren Buffett speak about stocks and the U.S. economy. This mecca for investors has been driven by the Oracle of Omaha's vast outperformance of the benchmark S&P 500 ( ^GSPC -1.11% ) since taking over as CEO six decades ago. Whereas the S&P 500 has delivered an impressive total return, including dividends, of around 40,000% through the closing bell on Dec. 26, Buffett has steered his company's Class A shares (BRK.A) to a cumulative gain of 5,515,517% over the same span. Using Berkshire Hathaway's quarterly filed Form 13Fs to mirror Buffett's trading activity has been a path to riches for decades. But as we prepare to enter the new year, Wall Street's "Oracle" has given investors 166 billion reasons to be fearful. Buffett has been a persistent net seller of stocks for two years Perhaps the most famous of all Warren Buffett quotes is "Be fearful when others are greedy, and greedy when others are fearful." Even though Warren Buffett has reminded investors not to bet against America throughout the years, he's an unabashed value investor who isn't afraid to sit on his hands and wait for price dislocations to crop up. Based on Buffett's actions over the last two years, through the end of September, he's clearly fearful of what may be to come for Wall Street . Specifically, he and his team have sold more stock than they've purchased for eight consecutive quarters (Oct. 1, 2022 through Sept. 30, 2024): Q4 2022 : $14.64 billion in net-equity sales Q1 2023 : $10.41 billion Q2 2023 : $7.981 billion Q3 2023 : $5.253 billion Q4 2023 : $0.525 billion Q1 2024 : $17.281 billion Q2 2024 : $75.536 billion Q3 2024 : $34.592 billion Collectively, this works out to $166.22 billion in net stocks sales over two years , and it's increased Berkshire Hathaway's cash balance, including U.S. Treasuries, to north of $325 billion. It's certainly not something you'd expect to see from one of Wall Street's most revered long-term optimists. Stocks are historically pricey, and the Oracle of Omaha is struggling to find a good deal During Berkshire Hathaway's annual shareholder meeting in early May, he intimated that some of his recent selling activity may be for tax purposes . With his company sitting on sizable unrealized gains from Apple and Bank of America ( BAC -0.47% ) , and the corporate income tax rate at its lowest level since 1939, he opined that locking in some gains would, in hindsight, be viewed as a smart move by Berkshire's shareholders. But there may be more to this selling than just minimizing Berkshire Hathaway's tax bill. Namely, stocks are historically pricey, and it's becoming increasingly difficult for Buffett to find a good deal. In an interview with Fortune magazine back in 2001, the Oracle of Omaha referred to the market cap-to-gross domestic product (GDP) ratio as "probably the best single measure of where valuations stand at any given moment." This ratio quickly became known on the Street as the "Buffett Indicator" -- and it's been making history of late . Since 1970, the aggregate value of all publicly traded companies divided into U.S. GDP has averaged around 85% (0.85). In October 2024, it crested 200% for the first time ever and hit an all-time high above 209% in December, as measured by dividing the Wilshire 5000 Index into U.S. GDP. Although the Buffett Indicator isn't particularly helpful in determining when downturns will take place in the S&P 500 and other broad-market indexes, it has acted as a warning of eventual downside in the stock market . The Buffett Indicator peaked at 144% prior to the dot-com bubble bursting, 107% before the financial crisis, 166% immediately ahead of the COVID-19 pandemic, and 195% prior to the 2022 bear market taking shape. These events were respectively followed by S&P 500 declines of 49%, 57%, 34%, and 28%, on a peak-to-trough basis. The tea leaves couldn't be clearer that Buffett is locking in gains ahead of 2025 and being fearful when others are being greedy in a historically pricey market. Buffett also has more than 5.5 million reasons for investors to be optimistic Based on Berkshire Hathaway's 13Fs over the previous eight quarters, it's evident that Buffett and his top advisors, Todd Combs and Ted Weschler, aren't finding much in the way of value. However, this doesn't change the Oracle of Omaha's long-term thesis of not betting against America and expecting wonderful businesses to increase in value over time. Even though Buffett's short-term actions may not always line up with the long-term ethos he preaches, the greater than 5,500,000% cumulative gain in his company's Class A shares since he took over as CEO isn't an accident. It's the result of Berkshire's chief staying true to his roots and remaining a value-focused investor who pounces during periods of Wall Street fear and turbulence. Shortly after the financial crisis, Buffett invested $5 billion in Bank of America (BofA) to shore up its balance sheet. While the preferred stock Berkshire received provided a healthy 6% yield ($300 million in annual dividend income), it's the warrants to purchase up to 700 million shares of BofA stock at $7.14 per share that proved far more valuable. When these stock warrants were fully exercised in mid-2017, it instantly made Buffett's company a small fortune. Warren Buffett has been taking advantage of price dislocations like this for decades. Though one may not exist right now, it's just a matter of time before he and his team put some of Berkshire's growing cash hoard to work. To quote the Oracle of Omaha's letter to shareholders in 2009 following the height of the financial crisis, "Big opportunities come infrequently. When it's raining gold, reach for a bucket, not a thimble."None
Ballari maternal deaths: Sriramulu calls off hunger strike after assurance by Health MinisterOn Wednesday, a bicameral group of Republican and Democrat lawmakers held a press conference discussing the need for pharmacy benefit manager reform to protect small pharmacies across the country and “save lives.” “Whether you are a Republican, Democrat, or an independent, we all want the same thing. We want accessible, affordable, quality health care,” said Rep. Buddy Carter, R-Ga. “We’re not here today to just discuss one bill or to discuss just one patient’s story. We're here because there's broad, bipartisan pharmacy benefit manager, or PBM, reform that is needed to save lives.” Pharmacy benefit managers are the middlemen responsible for managing the drug prices covered by health insurance plans. According to the Harvard Political Review , the problem with pharmacy benefit managers is that they “have vertically integrated with pharmacy chains and health insurers through massive conglomerates.” That then allows them to abuse their power to cut out small pharmacies and increase prices. Carter also signed a letter that was released last week calling on the Department of Justice to dig into the role pharmacy benefit managers played in the opioid epidemic. Reps. Raja Krishnamoorthi, D-Ill., Deborah Ross, D-N.C., and Cliff Benz, R-Ore., all joined him in signing that letter. “The opioid crisis has devastated communities in North Carolina and across the country, and PBMs may have fueled it by prioritizing profits over people,” Ross said on social media . “That’s why I joined a letter calling on the DOJ to investigate their role and hold these bad actors accountable.” The letter looked at recent reports on the largest pharmacy benefit managers, CVS Caremark, Express Scripts, and OptumRx which state that they “colluded and conspired to steer patients towards OxyContin in exchange for $400 million.” OxyContin is a trade name for the narcotic oxycodone hydrochloride, a painkiller available by prescription only. This and the general “lack of transparency” is just one of the many complaints that legislators aired on Wednesday. “My colleagues who are joining me today, Democrats and Republicans ... all recognize that PBMs are decreasing the accessibility, the affordability, and therefore the quality of health care in America,” Carter said. “We have an opportunity, right now, to advance bipartisan legislation that increases reporting requirements, which would heighten transparency and shine a light on the opaque practices of these PBMs.” Carter was also joined by Sen. James Lankford, R-Okla., who is leading the effort to get legislation passed in the U.S. Senate. “This year, we're losing about one pharmacy a day in America,” Lankford said. “We want leadership to be able to take this up and to bring it up in the end-of-year package ... Stop holding up legislation that is bipartisan, bicameral, and solving a problem that Americans need solved.”
Geode Capital Management LLC boosted its position in shares of Globalstar, Inc. ( NYSE:GSAT – Free Report ) by 2.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 16,812,336 shares of the company’s stock after purchasing an additional 382,288 shares during the period. Geode Capital Management LLC owned 0.89% of Globalstar worth $20,852,000 at the end of the most recent reporting period. Other institutional investors and hedge funds have also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. raised its stake in shares of Globalstar by 3.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,186,012 shares of the company’s stock worth $7,671,000 after purchasing an additional 196,644 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in Globalstar in the third quarter worth approximately $56,000. FMR LLC increased its holdings in Globalstar by 32.7% in the third quarter. FMR LLC now owns 4,473,492 shares of the company’s stock worth $5,547,000 after buying an additional 1,102,776 shares during the last quarter. BNP Paribas Financial Markets raised its position in Globalstar by 26.4% during the third quarter. BNP Paribas Financial Markets now owns 328,298 shares of the company’s stock valued at $407,000 after acquiring an additional 68,599 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. lifted its stake in Globalstar by 1,000.5% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 129,644 shares of the company’s stock valued at $161,000 after acquiring an additional 117,864 shares during the last quarter. Hedge funds and other institutional investors own 18.89% of the company’s stock. Globalstar Price Performance NYSE GSAT opened at $2.15 on Friday. Globalstar, Inc. has a fifty-two week low of $1.00 and a fifty-two week high of $2.74. The company’s 50-day moving average is $2.00. The company has a market capitalization of $4.07 billion, a price-to-earnings ratio of -71.67 and a beta of 1.10. The company has a current ratio of 1.09, a quick ratio of 0.99 and a debt-to-equity ratio of 0.91. Analyst Ratings Changes Check Out Our Latest Stock Report on Globalstar Insider Activity In other news, CFO Rebecca Clary sold 37,688 shares of the business’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of $2.13, for a total value of $80,275.44. Following the completion of the sale, the chief financial officer now directly owns 1,396,027 shares in the company, valued at approximately $2,973,537.51. The trade was a 2.63 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink . Also, Director James Monroe III bought 500,000 shares of the stock in a transaction that occurred on Monday, December 23rd. The stock was purchased at an average price of $1.93 per share, for a total transaction of $965,000.00. Following the completion of the purchase, the director now directly owns 10,334,090 shares in the company, valued at $19,944,793.70. The trade was a 5.08 % increase in their position. The disclosure for this purchase can be found here . In the last quarter, insiders have purchased 2,530,000 shares of company stock valued at $4,937,000 and have sold 3,666,312 shares valued at $8,104,313. 61.00% of the stock is currently owned by insiders. Globalstar Company Profile ( Free Report ) GLOBALSTAR INC offers satellite voice and data services to commercial and recreational users in more than 120 countries around the world. Globalstar’s products include mobile and fixed satellite telephones, simplex and duplex satellite data modems and flexible service packages. Many land based and maritime industries benefit from Globalstar with increased productivity from remote areas beyond cellular and landline service. See Also Five stocks we like better than Globalstar How to Plot Fibonacci Price Inflection Levels Buffett Takes the Bait; Berkshire Buys More Oxy in December Dividend Capture Strategy: What You Need to Know Top 3 ETFs to Hedge Against Inflation in 2025 How to Calculate Return on Investment (ROI) These 3 Chip Stock Kings Are Still Buys for 2025 Receive News & Ratings for Globalstar Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Globalstar and related companies with MarketBeat.com's FREE daily email newsletter .
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Geode Capital Management LLC boosted its position in shares of Globalstar, Inc. ( NYSE:GSAT – Free Report ) by 2.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 16,812,336 shares of the company’s stock after purchasing an additional 382,288 shares during the period. Geode Capital Management LLC owned 0.89% of Globalstar worth $20,852,000 at the end of the most recent reporting period. Other institutional investors and hedge funds have also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. raised its stake in shares of Globalstar by 3.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,186,012 shares of the company’s stock worth $7,671,000 after purchasing an additional 196,644 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in Globalstar in the third quarter worth approximately $56,000. FMR LLC increased its holdings in Globalstar by 32.7% in the third quarter. FMR LLC now owns 4,473,492 shares of the company’s stock worth $5,547,000 after buying an additional 1,102,776 shares during the last quarter. BNP Paribas Financial Markets raised its position in Globalstar by 26.4% during the third quarter. BNP Paribas Financial Markets now owns 328,298 shares of the company’s stock valued at $407,000 after acquiring an additional 68,599 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. lifted its stake in Globalstar by 1,000.5% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 129,644 shares of the company’s stock valued at $161,000 after acquiring an additional 117,864 shares during the last quarter. Hedge funds and other institutional investors own 18.89% of the company’s stock. Globalstar Price Performance NYSE GSAT opened at $2.15 on Friday. Globalstar, Inc. has a fifty-two week low of $1.00 and a fifty-two week high of $2.74. The company’s 50-day moving average is $2.00. The company has a market capitalization of $4.07 billion, a price-to-earnings ratio of -71.67 and a beta of 1.10. The company has a current ratio of 1.09, a quick ratio of 0.99 and a debt-to-equity ratio of 0.91. Analyst Ratings Changes Check Out Our Latest Stock Report on Globalstar Insider Activity In other news, CFO Rebecca Clary sold 37,688 shares of the business’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of $2.13, for a total value of $80,275.44. Following the completion of the sale, the chief financial officer now directly owns 1,396,027 shares in the company, valued at approximately $2,973,537.51. The trade was a 2.63 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink . Also, Director James Monroe III bought 500,000 shares of the stock in a transaction that occurred on Monday, December 23rd. The stock was purchased at an average price of $1.93 per share, for a total transaction of $965,000.00. Following the completion of the purchase, the director now directly owns 10,334,090 shares in the company, valued at $19,944,793.70. The trade was a 5.08 % increase in their position. The disclosure for this purchase can be found here . In the last quarter, insiders have purchased 2,530,000 shares of company stock valued at $4,937,000 and have sold 3,666,312 shares valued at $8,104,313. 61.00% of the stock is currently owned by insiders. Globalstar Company Profile ( Free Report ) GLOBALSTAR INC offers satellite voice and data services to commercial and recreational users in more than 120 countries around the world. Globalstar’s products include mobile and fixed satellite telephones, simplex and duplex satellite data modems and flexible service packages. Many land based and maritime industries benefit from Globalstar with increased productivity from remote areas beyond cellular and landline service. See Also Five stocks we like better than Globalstar How to Plot Fibonacci Price Inflection Levels Buffett Takes the Bait; Berkshire Buys More Oxy in December Dividend Capture Strategy: What You Need to Know Top 3 ETFs to Hedge Against Inflation in 2025 How to Calculate Return on Investment (ROI) These 3 Chip Stock Kings Are Still Buys for 2025 Receive News & Ratings for Globalstar Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Globalstar and related companies with MarketBeat.com's FREE daily email newsletter .Dejounte Murray is rejoining the Pelicans vs. Toronto and drawing inspiration from his motherSecret Service director touts changes as Congress presses him on Trump assassination attempt
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