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Ohio State, Michigan players involved in postgame scuffleGlancy Prongay & Murray LLP ("GPM"), a leading national shareholder rights law firm, today announced that it has commenced an investigation on behalf of Customers Bancorp, Inc. ("Customers Bancorp" or the "Company") CUBI investors concerning the Company's possible violations of the federal securities laws. If you suffered a loss on your Customers Bancorp investments or would like to inquire about potentially pursuing claims to recover your loss under the federal securities laws, you can submit your contact information at www.glancylaw.com/cases/Customers-Bancorp-Inc/ . You can also contact Charles H. Linehan, of GPM at 310-201-9150, Toll-Free at 888-773-9224, or via email at shareholders@glancylaw.com to learn more about your rights. On April 12, 2024, Customers Bancorp disclosed that its Executive Vice President and Chief Financial Officer, Carla Leibold, had been terminated "for ‘cause' under her employment agreement for violating Company policy." However, later that month, the Company amended this description to state that her termination "was a separation by mutual agreement" and that Ms. Leibold would be paid $2.5 million in "post-employment compensation." On this news, Customer Bancorp's stock price fell $2.40, or 4.9%, to close at $46.62 on April 15, 2024, thereby injuring investors. Then, on August 8, 2024, the Federal Reserve Board announced the execution of an enforcement action with Customers Bancorp, Inc., and Customers Bank stating that the most recent inspection of Customers Bancorp "identified significant deficiencies related to the Bank's risk management practices and compliance with the applicable laws, rules, and regulations relating to anti-money laundering." On this news, Customer Bancorp's stock price fell $7.22, or 13.3%, to close at $47.01 per share on August 8, 2024. That same day, after market hours, Customer Bancorp disclosed a consent order by the Commonwealth of Pennsylvania, Department of Banking and Securities, Bureau of Bank Supervision, which stated that deficiencies within the Company "give the Bureau reason to believe that the Bank had engaged in unsafe or unsound banking practices relating to BSA/AML Requirements[.]" On this news, Customer Bancorp's stock price fell $1.08, or 2.3%, to close at $45.93 per share on August 9, 2024, thereby injuring investors further. Follow us for updates on LinkedIn , Twitter , or Facebook . Whistleblower Notice: Persons with non-public information regarding Customers Bancorp should consider their options to aid the investigation or take advantage of the SEC Whistleblower Program. Under the program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Charles H. Linehan at 310-201-9150 or 888-773-9224 or email shareholders@glancylaw.com . About GPM Glancy Prongay & Murray LLP is a premier law firm representing investors and consumers in securities litigation and other complex class action litigation. ISS Securities Class Action Services has consistently ranked GPM in its annual SCAS Top 50 Report. In 2018, GPM was ranked a top five law firm in number of securities class action settlements, and a top six law firm for total dollar size of settlements. With four offices across the country, GPM's nearly 40 attorneys have won groundbreaking rulings and recovered billions of dollars for investors and consumers in securities, antitrust, consumer, and employment class actions. GPM's lawyers have handled cases covering a wide spectrum of corporate misconduct including cases involving financial restatements, internal control weaknesses, earnings management, fraudulent earnings guidance and forward looking statements, auditor misconduct, insider trading, violations of FDA regulations, actions resulting in FDA and DOJ investigations, and many other forms of corporate misconduct. GPM's attorneys have worked on securities cases relating to nearly all industries and sectors in the financial markets, including, energy, consumer discretionary, consumer staples, real estate and REITs, financial, insurance, information technology, health care, biotech, cryptocurrency, medical devices, and many more. GPM's past successes have been widely covered by leading news and industry publications such as The Wall Street Journal , The Financial Times , Bloomberg Businessweek , Reuters , the Associated Press , Barron's , Investor's Business Daily , Forbes , and Money . This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules. View source version on businesswire.com: https://www.businesswire.com/news/home/20241206130356/en/ © 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
ARLINGTON, Va., Nov. 25, 2024 (GLOBE NEWSWIRE) -- Fluence Energy, Inc. (Nasdaq: FLNC) (“Fluence” or the “Company”), a global market leader delivering intelligent energy storage, operational services, and asset optimization software, today announced its results for the three months and full fiscal year ended September 30, 2024. Fiscal Year 2024 Financial Highlights Record revenue for fiscal year 2024 of approximately $2.7 billion and revenue for the fourth quarter of approximately $1.2 billion, representing an increase of approximately 22% from fiscal year 2023 and an increase of approximately 82% from the same quarter last year, respectively. GAAP gross profit margin improved to approximately 12.6% and 12.8% for fiscal year 2024 and the fourth quarter, respectively, compared to approximately 6.4% and 11.3% for fiscal year 2023 and the same quarter last year, respectively, reflecting the Company's continued focus on ongoing profit improvement strategies. Net income of approximately $30.4 million and $67.7 million for fiscal year 2024 and the fourth quarter, respectively, improved from a net loss of approximately $104.8 million and net income of approximately $4.8 million, for fiscal year 2023 and the same quarter last year, respectively. Adjusted EBITDA 1 of approximately $78.1 million and $86.9 million for fiscal year 2024 and the fourth quarter, respectively, improved from approximately negative $61.4 million and $19.8 million for fiscal year 2023 and the same quarter last year, respectively. Quarterly order intake of approximately $1.2 billion, compared to approximately $737 million for the same quarter last year. Backlog 2 increased to approximately $4.5 billion as of September 30, 2024, compared to approximately $2.9 billion as of September 30, 2023. Financial Position Total Cash 3 of approximately $518.7 million as of September 30, 2024, representing an increase of approximately $56.0 million from September 30, 2023. Net cash provided by operating activities was approximately $79.7 million, compared to approximately negative $111.9 million for fiscal year 2023. Free cash flow 1 was approximately $71.6 million, compared to approximately negative $114.9 million for fiscal year 2023. Fiscal Year 2025 Outlook The Company is initiating fiscal year 2025 guidance as follows: Revenue of approximately $3.6 billion to $4.4 billion with a midpoint of $4.0 billion. Presently, approximately 65% of the midpoint of the Company's revenue guidance is covered by the Company's current backlog, in line with our fiscal 2024 revenue coverage at the same time period last year. Adjusted EBITDA 4 of approximately $160 million to $200 million with a midpoint of $180 million. Annual recurring revenue ("ARR") of about $145 million by the end of fiscal year 2025. The foregoing Fiscal Year 2025 Outlook statements represent management's current best estimate as of the date of this release. Actual results may differ materially depending on a number of factors. Investors are urged to read the Cautionary Note Regarding Forward-Looking Statements included in this release. Management does not assume any obligation to update these estimates. "Our record financial results for 2024 are a testament to our team's dedication, operational efficiency, and commitment to delivering value to our stakeholders as we achieved our highest ever revenue and profitability, marking a significant milestone in the Company's growth trajectory. Furthermore, we had our second consecutive quarter of signing more than $1 billion of new orders, which brought our backlog to $4.5 billion, underscoring the market's strong confidence in our energy storage solutions," said Julian Nebreda, the Company’s President and Chief Executive Officer. "As we look forward, we see unprecedented demand for battery energy storage solutions across the world, driven principally by the U.S. market. We believe we are well positioned to continue capturing this market with our best-in-class domestic content offering which utilizes U.S. manufactured battery cells." "We are pleased with our strong fiscal year-end performance, achieving record revenue growth, robust margin expansion and free cash flow. We also generated positive net income for the first time," said Ahmed Pasha, Chief Financial Officer. "With backlog and development pipeline at record levels, we enter fiscal 2025 poised for sustained profitable growth." Share Count The shares of the Company’s common stock as of September 30, 2024 are presented below: Conference Call Information The Company will conduct a teleconference starting at 8:30 a.m. EST on Tuesday, November 26, 2024, to discuss the fourth quarter and full fiscal year 2024 financial results. To participate, analysts are required to register by clicking Fluence Energy Inc. Q4 Earnings Call Registration Link . Once registered, analysts will be issued a unique PIN number and dial-in number. Analysts are encouraged to register at least 15 minutes before the scheduled start time. General audience participants, and non-analysts are encouraged to join the teleconference in a listen-only mode at: Fluence Energy Inc. Q4 Listen Only - Webcast , or on http://fluenceenergy.com by selecting Investors, News & Events, and Events & Presentations. Supplemental materials that may be referenced during the teleconference will be available at: http://fluenceenergy.com, by selecting Investors, News & Events, and Events & Presentations. A replay of the conference call will be available after 1:00 p.m. EST on Tuesday, November 26, 2024. The replay will be available on the Company’s website at http://fluenceenergy.com by selecting Investors, News & Events, and Events & Presentations. Non-GAAP Financial Measures We present our operating results in accordance with accounting principles generally accepted in the U.S. (“GAAP”). We believe certain financial measures, such as Adjusted EBITDA, Adjusted Gross Profit, Adjusted Gross Profit Margin, and Free Cash Flow, which are non-GAAP measures, provide users of our financial statements with supplemental information that may be useful in evaluating our operating performance. We believe that such non-GAAP measures, when read in conjunction with our operating results presented under GAAP, can be used to better assess our performance from period to period and relative to performance of other companies in our industry, without regard to financing methods, historical cost basis or capital structure. Such non-GAAP measures should be considered as a supplement to, and not as a substitute for, financial measures prepared in accordance with GAAP. These measures have limitations as analytical tools, including that other companies, including companies in our industry, may calculate these measures differently, reducing their usefulness as comparative measures. Adjusted EBITDA is calculated from the consolidated statements of operations using net income (loss) adjusted for (i) interest income, net, (ii) income taxes, (iii) depreciation and amortization, (iv) stock-based compensation, and (v) other non-recurring income or expenses. Adjusted EBITDA also includes amounts impacting net income related to estimated payments due to related parties pursuant to the Tax Receivable Agreement, dated October 27, 2021, by and among Fluence Energy, Inc., Fluence Energy, LLC, Siemens Industry, Inc. and AES Grid Stability, LLC (the “Tax Receivable Agreement”). Adjusted Gross Profit is calculated using gross profit, adjusted to exclude (i) stock-based compensation expenses, (ii) amortization, and (iii) other non-recurring income or expenses. Adjusted Gross Profit Margin is calculated using Adjusted Gross Profit divided by total revenue. Free Cash Flow is calculated from the consolidated statements of cash flows and is defined as net cash provided by (used in) operating activities, less purchase of property and equipment made in the period. We expect our Free Cash Flow to fluctuate in future periods as we invest in our business to support our plans for growth. Limitations on the use of Free Cash Flow include (i) it should not be inferred that the entire Free Cash Flow amount is available for discretionary expenditures (for example, cash is still required to satisfy other working capital needs, including short-term investment policy, restricted cash, and intangible assets); (ii) Free Cash Flow has limitations as an analytical tool, and it should not be considered in isolation or as a substitute for analysis of other GAAP financial measures, such as net cash provided by operating activities; and (iii) this metric does not reflect our future contractual commitments. Please refer to the reconciliations of the non-GAAP financial measures to their most directly comparable GAAP financial measures included in this press release and the accompanying tables contained at the end of this release. The Company is not able to provide a quantitative reconciliation of full fiscal year 2025 Adjusted EBITDA to GAAP Net Income (Loss) on a forward-looking basis within this press release because of the uncertainty around certain items that may impact Adjusted EBITDA, including stock compensation and restructuring expenses, that are not within our control or cannot be reasonably predicted without unreasonable effort. About Fluence Fluence Energy, Inc. (Nasdaq: FLNC) is a global market leader delivering intelligent energy storage and optimization software for renewables and storage. The Company's solutions and operational services are helping to create a more resilient grid and unlock the full potential of renewable portfolios. With gigawatts of projects successfully contracted, deployed and under management across nearly 50 markets, the Company is transforming the way we power our world for a more sustainable future. For more information, visit our website, or follow us on LinkedIn or X. To stay up to date on the latest industry insights, sign up for Fluence's Full Potential Blog. Cautionary Note Regarding Forward-Looking Statements The statements contained in this press release and statements that are made on our earnings call that are not historical facts are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, without limitation, statements set forth above under “Fiscal Year 2025 Outlook,” and other statements regarding the Company's future financial and operational performance, future market and industry growth and related opportunities for the Company, anticipated Company growth and business strategy, including future incremental working capital and capital opportunities, liquidity and access to capital and cash flows, demand for electricity and impact to energy storage, demand for the Company's energy storage solutions, services, and digital applications offerings, our positioning to capture market share with domestic content offering and future offerings, expected impact and benefits from the Inflation Reduction Act of 2022 and U.S. Treasury domestic content guidelines on us and on our customers, anticipated timeline of U.S. battery module production and timing of our domestic content offering, expectations relating to our contracting manufacturing capacity, potential impact to tariffs, related policies, and regulations from the change in political administration, new products and solutions and product innovation, relationships with new and existing customers and suppliers, expectations relating to backlog, pipeline, and contracted backlog, future revenue recognition, future results of operations, future capital expenditures and debt service obligations, and projected costs, beliefs, assumptions, prospects, plans and objectives of management. Such statements can be identified by the fact that they do not relate strictly to historical or current facts. When used in this press release, words such as “may,” “possible,” “will,” “should,” “expects,” “plans,” “anticipates,” “could,” “intends,” “targets,” “projects,” “contemplates,” "commits", “believes,” “estimates,” “predicts,” “potential” or “continue” or the negative of these terms or other similar expressions and variations thereof and similar words and expressions are intended to identify such forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. The forward-looking statements contained in this press release are based on our current expectations and beliefs concerning future developments, as well as a number of assumptions concerning future events, and their potential effects on our business. These forward-looking statements are not guarantees of performance, and there can be no assurance that future developments affecting our business will be those that we have anticipated. These forward-looking statements involve a number of risks, uncertainties (some of which are beyond our control) or other assumptions that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements, which include, but are not limited to, our relatively limited operating and revenue history as an independent entity and the nascent clean energy industry; anticipated increasing expenses in the future and our ability to maintain prolonged profitability; fluctuations of our order intake and results of operations across fiscal periods; potential difficulties in maintaining manufacturing capacity and establishing expected mass manufacturing capacity in the future; risks relating to delays, disruptions, and quality control problems in our manufacturing operations; risks relating to quality and quantity of components provided by suppliers; risks relating to our status as a relatively low-volume purchaser as well as from supplier concentration and limited supplier capacity; risks relating to operating as a global company with a global supply chain; changes in the global trade environment; changes in the cost and availability of raw materials and underlying components; failure by manufacturers, vendors, and suppliers to use ethical business practices and comply with applicable laws and regulations; significant reduction in pricing or order volume or loss of one or more of our significant customers or their inability to perform under their contracts; risks relating to competition for our offerings and our ability to attract new customers and retain existing customers; ability to maintain and enhance our reputation and brand recognition; ability to effectively manage our recent and future growth and expansion of our business and operations; our growth depends in part on the success of our relationships with third parties; ability to attract and retain highly qualified personnel; risks associated with engineering and construction, utility interconnection, commissioning and installation of our energy storage solutions and products, cost overruns, and delays; risks relating to lengthy sales and installation cycle for our energy storage solutions; risks related to defects, errors, vulnerabilities and/or bugs in our products and technology; risks relating to estimation uncertainty related to our product warranties; fluctuations in currency exchange rates; risks related to our current and planned foreign operations; amounts included in our pipeline and contracted backlog may not result in actual revenue or translate into profits; risks related to acquisitions we have made or that we may pursue; events and incidents relating to storage, delivery, installation, operation, maintenance and shutdowns of our products; risks relating to our impacts to our customer relationships due to events and incidents during the project lifecycle of an energy storage solution; actual or threatened health epidemics, pandemics or similar public health threats; ability to obtain financial assurances for our projects; risks relating to whether renewable energy technologies are suitable for widespread adoption or if sufficient demand for our offerings do not develop or takes longer to develop than we anticipate; estimates on size of our total addressable market; risks relating to the cost of electricity available from alternative sources; macroeconomic uncertainty and market conditions; risk relating to interest rates or a reduction in the availability of tax equity or project debt capital in the global financial markets and corresponding effects on customers’ ability to finance energy storage systems and demand for our energy storage solutions; decline in public acceptance of renewable energy, or delay, prevent, or increase in the cost of customer projects; severe weather events; increased attention to ESG matters; restrictions set forth in our current credit agreement and future debt agreements; uncertain ability to raise additional capital to execute on business opportunities; ability to obtain, maintain and enforce proper protection for our intellectual property, including our technology; threat of lawsuits by third parties alleging intellectual property violations; adequate protection for our trademarks and trade names; ability to enforce our intellectual property rights; risks relating to our patent portfolio; ability to effectively protect data integrity of our technology infrastructure and other business systems; use of open-source software; failure to comply with third party license or technology agreements; inability to license rights to use technologies on reasonable terms; risks relating to compromises, interruptions, or shutdowns of our systems; barriers arising from current electric utility industry policies and regulations and any subsequent changes; reduction, elimination, or expiration of government incentives or regulations regarding renewable energy; potential changes in tax laws or regulations; risks relating to environmental, health, and safety laws and potential obligations, liabilities and costs thereunder; failure to comply with data privacy and data security laws, regulations and industry standards; risks relating to potential future legal proceedings, regulatory disputes, and governmental inquiries; risks related to ownership of our Class A common stock; risks related to us being a “controlled company” within the meaning of the NASDAQ rules; risks relating to the terms of our amended and restated certificate of incorporation and amended and restated bylaws; risks relating to our relationship with our Founders and Continuing Equity Owners; risks relating to conflicts of interest by our officers and directors due to positions with Continuing Equity Owners; risks related to short-seller activists; we depend on distributions from Fluence Energy, LLC to pay our taxes and expenses and Fluence Energy, LLC’s ability to make such distributions may be limited or restricted in certain scenarios; risks arising out of the Tax Receivable Agreement; unanticipated changes in effective tax rates or adverse outcomes resulting from examination of tax returns; risks relating to improper and ineffective internal control over reporting to comply with Sarbanes-Oxley Act; risks relating to changes in accounting principles or their applicability to us; risks relating to estimates or judgments relating to our critical accounting policies; and other factors set forth under Item 1A.“Risk Factors” in our Annual Report on Form 10-K for the fiscal year ended September 30, 2024, to be filed with the Securities and Exchange Commission (“SEC”), and in other filings we make with the SEC from time to time. New risks and uncertainties emerge from time to time and it is not possible for us to predict all such risk factors, nor can we assess the effect of all such risk factors on our business or the extent to which any factor or combination of factors may cause actual results to differ materially from those contained in any forward-looking statements. Should one or more of these risks or uncertainties materialize, or should any of the assumptions prove incorrect, actual results may vary in material respects from those projected in these forward-looking statements. You are cautioned not to place undue reliance on any forward-looking statements made in this press release. Each forward-looking statement speaks only as of the date of the particular statement, and we undertake no obligation to publicly update or revise any forward-looking statements to reflect events or circumstances that occur, or which we become aware of, after the date hereof, except as otherwise may be required by law. Reclassifications Certain prior period amounts have been reclassified to conform to the current period presentation. Accounts payable with related parties of $2.5 million and Accruals with related parties of $3.7 million as of September 30, 2023, were reclassified from Deferred revenue and payables with related parties to Accounts payable and Accruals and provisions, respectively, on the consolidated balance sheet. The reclassification had no impact on the total current liabilities for any period presented. Corresponding reclassifications were also reflected on the consolidated statement of cash flows for the fiscal year ended September 30, 2023 and 2022. The reclassifications had no impact on cash provided by (used in) operations for the period presented. Provision on loss contracts, net of $6.1 million and $30.0 million for the fiscal years ended September 30, 2023 and 2022, respectively, was reclassified to current accruals and provisions on the consolidated statement of cash flows. The reclassification had no impact on cash provided by (used in) operations for the period presented. The following tables present our key operating metrics for the fiscal years ended September 30, 2024 and 2023. The tables below present the metrics in either Gigawatts (GW) or Gigawatt hours (GWh). Our key operating metrics focus on project milestones to measure our performance and designate each project as either “deployed”, “assets under management”, “contracted backlog”, or “pipeline”. The following table presents our order intake for the three months and fiscal years ended September 30, 2024 and 2023. The table is presented in Gigawatts (GW): Deployed Deployed represents cumulative energy storage products and solutions that have achieved substantial completion and are not decommissioned. Deployed is monitored by management to measure our performance towards achieving project milestones. Assets Under Management Assets under management for service contracts represents our long-term service contracts with customers associated with our completed energy storage system products and solutions. We start providing maintenance, monitoring, or other operational services after the storage product projects are completed. In some cases, services may be commenced for energy storage solutions prior to achievement of substantial completion. This is not limited to energy storage solutions delivered by Fluence. Assets under management for digital software represents contracts signed and active (post go live). Assets under management serves as an indicator of expected revenue from our customers and assists management in forecasting our expected financial performance. Contracted Backlog For our energy storage products and solutions contracts, contracted backlog includes signed customer orders or contracts under execution prior to when substantial completion is achieved. For service contracts, contracted backlog includes signed service agreements associated with our storage product projects that have not been completed and the associated service has not started. For digital applications contracts, contracted backlog includes signed agreements where the associated subscription has not started. We cannot guarantee that our contracted backlog will result in actual revenue in the originally anticipated period or at all. Contracted backlog may not generate margins equal to our historical operating results. We have only recently begun to track our contracted backlog on a consistent basis as performance measures, and as a result, we do not have significant experience in determining the level of realization that we will achieve on these contracts. Our customers may experience project delays or cancel orders as a result of external market factors and economic or other factors beyond our control. If our contracted backlog fails to result in revenue as anticipated or in a timely manner, we could experience a reduction in revenue, profitability, and liquidity. Contracted/Order Intake Contracted, which we use interchangeably with “order intake”, represents new energy storage product and solutions contracts, new service contracts and new digital contracts signed during each period presented. We define “Contracted” as a firm and binding purchase order, letter of award, change order or other signed contract (in each case an “Order”) from the customer that is received and accepted by Fluence. Our order intake is intended to convey the dollar amount and gigawatts (operating measure) contracted in the period presented. We believe that order intake provides useful information to investors and management because the order intake provides visibility into future revenue and enables evaluation of the effectiveness of the Company’s sales activity and the attractiveness of its offerings in the market. Pipeline Pipeline represents our uncontracted, potential revenue from energy storage products and solutions, service, and digital software contracts, which have a reasonable likelihood of contract execution within 24 months. Pipeline is an internal management metric that we construct from market information reported by our global sales force. Pipeline is monitored by management to understand the anticipated growth of our Company and our estimated future revenue related to customer contracts for our battery-based energy storage products and solutions, services and digital software. We cannot guarantee that our pipeline will result in actual revenue in the originally anticipated period or at all. Pipeline may not generate margins equal to our historical operating results. We have only recently begun to track our pipeline on a consistent basis as performance measures, and as a result, we do not have significant experience in determining the level of realization that we will achieve on these contracts. Our customers may experience project delays or cancel orders as a result of external market factors and economic or other factors beyond our control. If our pipeline fails to result in revenue as anticipated or in a timely manner, we could experience a reduction in revenue, profitability, and liquidity. Annual Recurring Revenue (ARR) ARR represents the net annualized contracted value including software subscriptions including initial trial, licensing, long term service agreements, and extended warranty agreements as of the reporting period. ARR excludes one-time fees, revenue share or other revenue that is non-recurring and variable. The Company believes ARR is an important operating metric as it provides visibility to future revenue. It is important to management to increase this visibility as we continue to expand. ARR is not a forecast of future revenue and should be viewed independently of revenue and deferred revenue as ARR is an operating metric and is not intended to replace these items. The following tables present our non-GAAP measures for the periods indicated. ____________________________ 1 Non-GAAP Financial Metric. See the section below titled “Non-GAAP Financial Measures” for more information regarding the Company's use of non-GAAP financial measures, as well as a reconciliation to the most directly comparable financials measure stated in accordance with GAAP. 2 Backlog represents the unrecognized revenue value of our contractual commitments, which include deferred revenue and amounts that will be billed and recognized as revenue in future periods. The Company’s backlog may vary significantly each reporting period based on the timing of major new contractual commitments and the backlog may fluctuate with currency movements. In addition, under certain circumstances, the Company’s customers have the right to terminate contracts or defer the timing of its services and their payments to the Company. 3 Total cash includes Cash and cash equivalents + Restricted Cash + Short term investments.
Manchester City boss Pep Guardiola reiterated that “everyone is innocent until proven guilty” as he responded to comments from Jose Mourinho about winning “cleanly and fairly”. Towards the end of Sunday’s 2-0 loss at Liverpool, Guardiola was subjected to chants that he would be “sacked in the morning” from Reds fans and responded by holding up six fingers, to represent the number of Premier League titles he has won with City. Two days later, when was asked about former Chelsea boss Mourinho holding up three fingers before being axed by Manchester United in 2018, he said: “I hope not in my case. Maybe in the end we are quite similar, (and I’m) like Jose. But he won three, I won six.” Mourinho, now in charge at Fenerbahce, on Friday was quoted by Turkey’s Sporx as saying: “I want to win, but I want to win cleanly and fairly. He (Guardiola) won six trophies and I won three, but I won fair and clean. If I lost, I want to congratulate my opponent for being better than me. I don’t want to win by dealing with 150 cases.” City were charged with 115 alleged breaches of top-flight financial rules in February 2023, and with failing to co-operate with the subsequent investigation. The club have denied the charges and an outcome is expected next year. Asked about Mourinho’s remarks at his pre-match press conference ahead of Saturday’s trip to Crystal Palace, Guardiola said: “It was a joke. But he’s another one in the huge list that they want the team being in, I don’t know, League One or the Conference. “I would say to Jose the same – we are innocent until proven guilty, and after that we will see what happens. It is what it is. It was completely a joke. “I think both with our teams, him with Chelsea, myself with Man City, we can sit at the table with Sir Alex Ferguson and Arsene Wenger (who won 13 league titles with United and three with Arsenal respectively), right? For the many, many titles we won. “If I have offended him (Mourinho) I’m so sorry, but it was a joke. The fact is he has three and I have six. This is a fact. But the intention was completely fine. “It is another one from the huge list in this country and more around the world that want us at the bottom. “It’s OK, it’s fine. I’ve said many times wait for the sentence and everyone, especially in democracy, is innocent until proven guilty. Right? So we’ll wait, and after we’ll see.” As well as the six league titles, City’s haul of silverware since Guardiola took charge in 2016 includes two FA Cups and four League Cups, and he has also overseen them winning the Champions League, Super Cup and Club World Cup. Guardiola was asked if he had ever envisaged it being as good as it has been when he arrived at the club, and the former Barcelona and Bayern Munich head coach said: “No. I remember many people say ‘he wins because it’s Barcelona with Leo Messi and the other ones’, I had to prove it in England. OK, we did it.” The result at Anfield was a sixth defeat in a seven-game winless run for City, and fourth league loss in a row – a sequence they then ended with Wednesday’s 3-0 home victory over Nottingham Forest. The champions currently lie fourth, nine points behind Arne Slot’s leaders Liverpool, and Guardiola said: “We broke that bad run. Always it’s not easy when you don’t win for a long time, and now you break it and we have to try to continue with the players, the spirit we show, and we’ll see what happens.” The last two matches have seen Stefan Ortega play in goal, with Ederson on the bench, and asked what the latter had to do to get back in the team, Guardiola said: “He needs the manager to select him. This is what he needs, it’s simple.”Gophers football players are preparing to play Wisconsin for Paul Bunyan’s Axe on Friday, but three key pieces peered beyond the blinders to shore up their commitment to Minnesota on Monday. Quarterback Max Brosmer and offensive lineman Quinn Carroll — two sixth-year seniors — said they will play in the Gophers’ to-be-determined bowl game, bucking a growing trend of players skipping postseason games to prepare for shots in the NFL. Brosmer, a transfer from FCS-level New Hampshire, said he will “definitely” suit up. “It’s another opportunity for us to play as a team,” said Brosmer, who threw for 2,426 yards, 15 touchdowns and five interceptions in 11 games this season. “It’s a compilation of what you have worked on all season.” Carroll said he respects higher-level prospects who might opt out and protect their draft stock, but he wants to get back to a “standard” of players not skipping the games. “My goal ever since I came here was to be the leader, be the standard all the time, and I don’t want it to become a standard that we don’t play in the bowl game if we have NFL aspirations,” said Carroll, who has played three seasons at Minnesota after three years at Notre Dame. “Obviously it’s different for guys who are maybe touted a little bit higher or think it will be better off for them to start working on the next step, whether that is combine training or what have you. But that is one opportunity that I’m blessed with to play with the guys and I’m going to take full advantage of it.” Left tackle Aireontae Ersery is a prime candidate of a Gophers player who might want to safeguard a higher draft stock and limit injury exposure by sitting out the bowl game. The possible first- or second-round pick has not said what he might do. For example, former U center, John Michael Schmitz opted out of the Pinstripe Bowl in 2022; he was drafted in the second round by the New York Giants. Meanwhile, Gophers fifth-year defensive lineman Jalen Logan-Redding said he will return to Minnesota for 2025, instead of trying his luck in the NFL. “Coming back next year is definitely going to be the best for me and being able to maximize all my opportunities and exhaust eligibility,” Logan-Redding said. Logan-Redding said he talked with fellow D-lineman Deven Eastern, who has one more year remaining, about pairing up in 2025. “We talk a lot about it,” Logan-Redding said. “... We are excited for it, honestly. Not only continuing to build the D-line, but just continuing to build on the experience that we already have. We’ve seen the amount of destruction that we can create when we are focused. Me, Dev and, of course, (Anthony Smith). He would be pissed if I didn’t shout him out.” Smith, who has two more years of eligibility, has been one of the U’s best players in the last month. He has 23 total pressures and five sacks, including one sack in each of the last three weeks.
GDIT Awarded Mission Partner Environment Contract
Rachel Zegler and Jaeden Martell are starring in Kyle Mooney's directorial debut, Y2K, a disaster comedy about the Millennium Bug. For those who don't know, the Millennium Bug (or Y2K Scare) was a problem in the coding of computerized systems that was projected to create havoc in computers and computer networks around the world at the beginning of the year 2000, per Brittanica . Set on the last night of 1999, it follows a group of high schoolers as they fight against technology that is trying to kill them. In support of the film, we caught up with Rachel, Jaeden, and Kyle and asked them to test each other on their respective generational cultures. Kyle, a millennial, was born in 1984 while Rachel and Jaeden, both Gen-Z, were born in 2001 and 2003 respectively. A lot of knowledge was dropped between the two age groups! Kyle learned what "mewing" was and gave it his best shot. Rachel demonstrated the proper way to take a .5 selfie. And Kyle explained the proper way to get your Gameboy to work again. Blow into the cartridge, not the Gameboy itself! We've got all this plus some attempted Limp Bizkit rapping, a Carrot Top mention, and so much more in the full video: Be sure to check out Y2K in theaters now!
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SEATTLE (AP) — The Seattle Seahawks rode their dominant defense to a big win over a division rival to vault into first place in the NFC West. Read this article for free: Already have an account? To continue reading, please subscribe: * SEATTLE (AP) — The Seattle Seahawks rode their dominant defense to a big win over a division rival to vault into first place in the NFC West. Read unlimited articles for free today: Already have an account? SEATTLE (AP) — The Seattle Seahawks rode their dominant defense to a big win over a division rival to vault into first place in the NFC West. No, it isn’t 2013. These are the 2024 Seahawks, who, after struggling mightily against the run earlier this season, held the visiting Arizona Cardinals to 49 rushing yards in Sunday’s 16-6 victory. The defensive line kept Kyler Murray under consistent pressure thanks to a dominant performance from Leonard Williams, the secondary flew around to smack away passes, and safety Coby Bryant scored on a 69-yard pick-6. Sunday’s defensive performance was reminiscent of the Seahawks of a decade ago and a promising sign that first-year coach Mike Macdonald’s system is starting to click. Macdonald, who coordinated Baltimore’s NFL-best defense last year, was leading one of the worst rush defenses in the league earlier this season. But Seattle consistently stuffed the Cardinals, who came in as the fifth-best running team in the league at 149.4 yards per game. “Three games in a row now we played pretty decent on defense,” Macdonald said. “There is an expectation and standard here throughout the course of our Seahawks history that we’re trying to live up to and build on. So that’s the idea.” At 6-5, the Seahawks drew even with the Cardinals in the tightly bunched division. The teams play each other again in two weeks at Arizona. What’s working Last month’s trade for linebacker Ernest Jones IV has clearly paid off. Seattle hasn’t allowed a running back to rush for more than 79 yards since its Week 8 loss to Buffalo, which was Jones’ first game in a Seahawks uniform. He has led the team in tackles in every game he’s played and has helped resurrect the run defense. What needs help The Seahawks’ run game continues to underperform. Seattle got 65 yards on the ground Sunday, with the Cardinals holding Kenneth Walker III to 41 yards on 16 attempts. Zach Charbonnet had 22 yards on six carries. Walker hasn’t topped 100 yards since Week 1. Offensive coordinator Ryan Grubb needs to think of something different to get the running backs involved. Stock up Williams single-handedly disrupted the Cardinals with 2 1/2 sacks, four quarterback hits, three tackles for loss and one pass defensed. “I thought he was dominant,” Macdonald said. “I knew he played great and then I looked at the stat line and he played out of his mind.” The Seahawks finished with five sacks, seven quarterback hits, five tackles for loss and six pass deflections against the Cardinals, shutting down a team that had averaged 29.3 points over its previous three games. Stock down Geno Smith finished with 254 yards passing and a touchdown, but he threw another momentum-stalling interception. Smith was picked off on a third-and-6 play on the Arizona 18-yard line at the start of the fourth quarter, ending an 11-play, 73-yard drive. Smith has an NFL-most 12 interceptions this season, more than in either of his previous two seasons as the Seahawks’ full-time starter. “That was a huge drive for us. ... Obviously made a terrible mistake down there, something I got to clean up,” Smith said. “But it was a big drive. We wanted to put the game ahead at least two scores.” The offensive line has contributed to the problem. Guard Anthony Bradford left with an ankle injury, and the line struggled to protect Smith, who was sacked five times. Injuries Macdonald said Bradford is expected to miss next week’s game. Key number 77 — Jaxon Smith-Njigba led the team with six catches for 77 yards and a touchdown, marking the fourth consecutive game that Smith-Njigba has led the team in receptions. He topped 100 yards receiving in the previous two games. Winnipeg Jets Game Days On Winnipeg Jets game days, hockey writers Mike McIntyre and Ken Wiebe send news, notes and quotes from the morning skate, as well as injury updates and lineup decisions. Arrives a few hours prior to puck drop. “He’s getting open,” Smith said. “He’s catching the ball. He’s doing a great job in the screen game. All-around great player. I just think the way that teams are playing us coverage-wise, I feel like it’s the ultimate sign of respect.” Up next The Seahawks play at the struggling New York Jets on Sunday. ___ AP NFL: https://apnews.com/hub/nfl Advertisement Advertisement
Mick Molloy admits shock at Mark Geyer's surprise axing from Triple M radio following 17 years of service Mick Molloy breaks silence about sacking of Mark Geyer Molloy he and other staff are doing it tough without Geyer Says he loved working with the NRL legend at Triple M By JAMES COONEY FOR DAILY MAIL AUSTRALIA Published: 23:32 GMT, 30 November 2024 | Updated: 23:39 GMT, 30 November 2024 e-mail View comments Mick Molloy has spoken of the sadness that he and his colleagues at Triple M are feeling after popular co-host Mark 'MG' Geyer was suddenly sacked by the broadcaster . Many were shocked by Triple M's decision to part company with the New South Wales State of Origin legend who has been a fan favourite on the station's Mick & MG in the Morning's breakfast show for some time. Despite having been with the broadcaster for 17 years, Geyer and his co-hosts Molloy and Cat Lynch are due to be replaced by a new cast that will include former NRL star-turned-media personality Beau Ryan. It is understood he will debut on the show on January 20, 2025 and will be joined by co-hosts Natarsha Belling and former West Tigers Captain Aaron Woods. The programme will be renamed Triple M Breakfast with Beau, Tarsh & Woodsy and will run from 6am to 9am on weekdays. Geyer's axing was first reported by The Daily Telegraph two weeks ago, but the reasons why he has left the station remain unclear - with the Penrith icon yet to speak out on the matter. Molloy, in his first public comment on the matter, revealed how tough it was without 'MG'. Mick Molloy (pictured) has spoken of the sadness felt by he and other Triple M staff after the shock sacking of footy legend Mark Geyer Mark Geyer was reportedly left 'devastated', according to a former NRL player, after he was dropped from Triple M Sydney's breakfast show 'You'll be aware that MG is not coming back next year and this is very sad for me. It's been tough doing the show for the last week and a half without him,' he told Triple M listeners. 'I've really wanted to talk about his situation, but it's not right because he hasn't spoken about it himself. And out of respect for MG, I think it's his story to tell and he needs to get that out and people need to hear it too. 'What I can say is this, I love the bloke. I have absolutely thoroughly enjoyed doing the show with him for two years, to coming in to work with him for two years. He makes me laugh. He's one of the most unique men I've ever met in my life. 'There's many people who are sad here (at Triple M) that he's not going to be back next year. I can't tell you how much I love him and I really hope we can maintain our friendship for many years to come. He is one of the great men I've ever met and I really wish him all the best.' Geyer, who was capped three times for Australia and helped Penrith to their first premiership win in 1991, retired from professional footy in 2000. He would go on to pursue a career in media having written extensively for newspapers, before taking up roles with Triple M and Fox Footy. Molloy said he hopes Geyer will continue doing radio. 'The audience loves him,' he said. Molloy says he loved working with Geyer and he hopes that he stays in radio Molloy said he hopes he can maintain his friendship with 'MG' for many years to come 'He's well-loved here at Triple M (and) I hope we hear him back on the airwaves very soon, and I hope it's on Triple M (because) he's an absolute cracker.' The reasons why Geyer left the station remain unclear - with the former Kangaroos star yet to speak out on the matter. But according to former Penrith star Lou Zivanovic, who caught up with the 56-year-old for lunch recently, Geyer has been left 'devastated' by the sudden call after he had been 'blindsided' by the channel. 'MG [Mark Geyer] is one of the most loyal people you could meet and Triple M has shown him zero loyalty in return,' Zivanovic told Yahoo Sport Australia. 'He was blindsided by the decision and is quite understandably devastated. Decisions are made in business every day but there's a right way and wrong way to go about things. They've totally screwed him, without warning, after 17 years of loyal service. It doesn’t sit right with me and it doesn’t sit right with a lot of people. 'He's still coming to terms with it all, but he's a strong man,' Zivanovic added. 'MG showed during his footy career that you get knocked down and you get up again, and that’s the way he's approaching this. With the help and support of family and friends, he will bounce back from this. One door closes, another one opens.' NRL New South Wales Share or comment on this article: Mick Molloy admits shock at Mark Geyer's surprise axing from Triple M radio following 17 years of service e-mail Add comment