Jeddah: Punjab Kings have bagged Australia all-rounder Glenn Maxwell for Rs 4.20 crore in the IPL 2025 Auction here at the Abadi Al Johar Arena in Jeddah on Sunday. Sunrisers Hyderabad offered the initial bid for Maxwell before being joined by Chennai Super Kings and Punjab Kings. But in the end, Punjab emerged as a front-runner with Royal Challengers Bengaluru denying to exercise their Right to Match (RTM) option. The Mohali-based franchise added Maxwell as their fifth signing of the day. Maxwell, who played for Royal Challengers Bengaluru (RCB) in the last season, started his IPL career with Delhi Capitals (then Delhi Daredevils) in 2012 before playing for Mumbai Indians and Kings XI Punjab, eventually joining the RCB. The 36-year-old has featured in 134 IPL matches, amassing 2,771 runs at an impressive strike rate of 156.73. With the ball, Maxwell has taken 37 wickets at an economy rate of 8.28. In other notable purchases, Punjab Kings secured Shreyas Iyer for a record-breaking Rs 26.75 crore. They bagged Australian all-rounder Marcus Stoinis for Rs 11 crore. They also invested heavily in Arshdeep Singh and Yuzvendra Chahal, acquiring both for Rs 18 crore each. Another Australian allrounder Mitchell Marsh was bagged by Lucknow Super Giants for Rs 3.40 cr. Lucknow made the record-breaking signing of India wicketkeeper-batter Rishabh Pant for an astronomical price of Rs 27 crore while the franchise also signed South Africa white-ball captain Aiden Markram at the base price of Rs 2 crore.
HOUSTON--(BUSINESS WIRE)--Dec 9, 2024-- Kinder Morgan, Inc. (NYSE: KMI) today announced its preliminary 2025 financial projections. “We expect 4% growth from 2024 in Adjusted EBITDA and 8% growth in Adjusted EPS due to growth projects in all our business segments, but most prominently in Natural Gas Pipelines and Energy Transition Ventures,” said Kim Dang, KMI Chief Executive Officer. “We are projecting an annualized dividend of $1.17 in 2025, constituting the 8 th year in a row in which we have increased our dividend. Our end-of-year 2025 Net Debt-to-Adjusted EBITDA ratio is forecast to be 3.8 times, which is in the lower part of our 3.5x-4.5x leverage target range and provides good capacity for additional opportunistic investment,” Dang concluded. “We anticipate generating Adjusted EPS of $1.27, up 8% compared to our year-end 2024 forecast of $1.17 per share, and Adjusted EBITDA of $8.3 billion, up 4% compared to the 2024 forecast of $8 billion,” said KMI President Tom Martin. “We expect to continue benefiting from strong natural gas market fundamentals driving growth on our existing natural gas transportation and storage assets, as well as creating expansion opportunities. Overall, our base business is relatively flat with expansion projects in our Natural Gas Pipelines segment and Energy Transition Ventures group as the primary growth drivers,” Martin concluded. Below is a summary of KMI’s expectations for 2025: This press release includes budgeted Adjusted EPS, Adjusted EBITDA and Net Debt, all of which are non-GAAP financial measures. For descriptions of these non-GAAP financial measures and reconciliations to the most comparable measures prepared in accordance with generally accepted accounting principles, please see “ Non-GAAP Financial Measures ” below. Historically, KMI has disclosed budgeted distributable cash flow, or DCF, in the aggregate and per share. KMI has excluded budgeted DCF from this press release due to declining investor interest in DCF as a primary performance measure. KMI expects to continue to disclose DCF in 2025 as supplemental information in some investor materials for comparability purposes. KMI’s expectations assume average annual prices for West Texas Intermediate (WTI) crude oil and Henry Hub natural gas of $68 per barrel and $3.00 per MMBtu, respectively, consistent with forward pricing during the budget process. The vast majority of cash generated by KMI is fee-based and therefore is not directly exposed to commodity prices. For 2025, the company estimates that every $1 per barrel change in the average WTI crude oil price impacts Adjusted EBITDA by approximately $7 million, and each $0.10 per MMBtu change in the price of natural gas impacts Adjusted EBITDA by approximately $6 million. The KMI board of directors has preliminarily reviewed the 2025 budget and will take formal action on it at the January board meeting, expected to coincide with the issuance of fourth quarter 2024 earnings on January 22, 2025. The 2025 budget will be the standard by which KMI measures its performance next year and will be a factor in determining employee compensation. Kinder Morgan has posted a presentation that includes a brief overview of the 2025 budget to the Investor Relations website and expects to publish a detailed 2025 budget and outlook presentation on the company’s website in early February. About Kinder Morgan, Inc. Kinder Morgan, Inc. (NYSE: KMI) is one of the largest energy infrastructure companies in North America. Access to reliable, affordable energy is a critical component for improving lives around the world. We are committed to providing energy transportation and storage services in a safe, efficient, and environmentally responsible manner for the benefit of the people, communities and businesses we serve. We own an interest in or operate approximately 79,000 miles of pipelines, 139 terminals, 702 billion cubic feet of working natural gas storage capacity and have renewable natural gas generation capacity of approximately 6.1 Bcf per year with an additional 0.8 Bcf in development. Our pipelines transport natural gas, refined petroleum products, crude oil, condensate, CO2, renewable fuels and other products, and our terminals store and handle various commodities including gasoline, diesel fuel, jet fuel, chemicals, metals, petroleum coke, and ethanol and other renewable fuels and feedstocks. Learn more about our work advancing energy solutions on the lower carbon initiatives page at www.kindermorgan.com . Important Information Relating to Forward-Looking Statements This news release includes forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 and Section 21E of the Securities Exchange Act of 1934. Generally, the words “expects,” “believes,” anticipates,” “plans,” “will,” “shall,” “estimates,” and similar expressions identify forward-looking statements, which are generally not historical in nature. Forward-looking statements in this news release include express or implied statements pertaining to KMI’s expectations for 2024 and 2025, including expected Adjusted EPS, Adjusted EBITDA, Net Debt-to-Adjusted EBITDA, anticipated dividends, discretionary capital expenditures, KMI’s financing and capital allocation strategy, and the financial performance of growth projects. Forward-looking statements are subject to risks and uncertainties and are based on the beliefs and assumptions of management, based on information currently available to them. Although KMI believes that these forward-looking statements are based on reasonable assumptions, it can give no assurance as to when or if any such forward-looking statements will materialize nor their ultimate impact on our operations or financial condition. Important factors that could cause actual results to differ materially from those expressed in or implied by these forward-looking statements include: the timing and extent of changes in the supply of and demand for the products we transport and handle; commodity prices; regulatory and policy changes; delays or cost overruns affecting expansion projects; and the other risks and uncertainties described in KMI’s reports filed with the Securities and Exchange Commission (SEC), including its Annual Report on Form 10-K for the year-ended December 31, 2023 (under the headings “Risk Factors” and “Information Regarding Forward-Looking Statements” and elsewhere) and its subsequent reports, which are available through the SEC’s EDGAR system at www.sec.gov and on our website at ir.kindermorgan.com . Forward-looking statements speak only as of the date they were made, and except to the extent required by law, KMI undertakes no obligation to update any forward-looking statement because of new information, future events or other factors. Because of these risks and uncertainties, readers should not place undue reliance on these forward-looking statements. Non-GAAP Financial Measures Our non-GAAP financial measures described further below should not be considered alternatives to GAAP net income attributable to Kinder Morgan, Inc. or other GAAP measures and have important limitations as analytical tools. Our computations of these non-GAAP financial measures may differ from similarly titled measures used by others. You should not consider these non-GAAP financial measures in isolation or as substitutes for an analysis of our results as reported under GAAP. Management compensates for the limitations of our consolidated non-GAAP financial measures by reviewing our comparable GAAP measures identified in the descriptions of consolidated non-GAAP measures below, understanding the differences between the measures and taking this information into account in its analysis and its decision-making processes. Certain Items, as adjustments used to calculate our non-GAAP financial measures, are items that are required by GAAP to be reflected in net income attributable to Kinder Morgan, Inc., but typically either (1) do not have a cash impact (for example, unsettled commodity hedges and asset impairments), or (2) by their nature are separately identifiable from our normal business operations and in most cases are likely to occur only sporadically (for example, certain legal settlements, enactment of new tax legislation and casualty losses) We also include adjustments related to joint ventures (see “ Amounts from Joint Ventures ” below). Adjusted EPS is calculated as Adjusted Net Income Attributable to Common Stock divided by our weighted average shares outstanding. Adjusted Net Income Attributable to Common Stock is calculated by adjusting Net income attributable to Kinder Morgan, Inc., the most comparable GAAP measure, for Certain Items, and further for net income allocated to participating securities and adjusted net income in excess of distributions for participating securities. We believe Adjusted Net Income Attributable to Common Stock allows for calculation of adjusted earnings per share (Adjusted EPS) on the most comparable basis with earnings per share, the most comparable GAAP measure to Adjusted EPS. Adjusted EPS applies the same two-class method used in arriving at basic earnings per share. Adjusted EPS is used by us, investors and other external users of our financial statements as a per-share supplemental measure that provides decision-useful information regarding our period-over-period performance and ability to generate earnings that are core to our ongoing operations. Adjusted EBITDA is calculated by adjusting net income attributable to Kinder Morgan, Inc. for Certain Items and further for DD&A, income tax expense and interest. We also include amounts from joint ventures for income taxes and DD&A (see “ Amounts associated with Joint Ventures ” below). Adjusted EBITDA (on a rolling 12-months basis) is used by management, investors and other external users, in conjunction with our Net Debt (as described further below), to evaluate our leverage. Management and external users also use Adjusted EBITDA as an important metric to compare the valuations of companies across our industry. Our ratio of Net Debt-to-Adjusted EBITDA is used as a supplemental performance target for purposes of our annual incentive compensation program. We believe the GAAP measure most directly comparable to Adjusted EBITDA is net income attributable to Kinder Morgan, Inc. Net Debt is calculated by subtracting from debt (1) cash and cash equivalents, (2) debt fair value adjustments, and (3) the foreign exchange impact on Euro-denominated bonds for which we have entered into currency swaps. Net Debt, on its own and in conjunction with our Adjusted EBITDA (on a rolling 12-months basis) as part of a ratio of Net Debt-to-Adjusted EBITDA, is a non-GAAP financial measure that is used by management, investors, and other external users of our financial information to evaluate our leverage. Our ratio of Net Debt-to-Adjusted EBITDA is also used as a supplemental performance target for purposes of our annual incentive compensation program. We believe the most comparable measure to Net Debt is total debt. 2025 budgeted Net Debt is calculated as budgeted total debt of $31.4 billion, less budgeted cash and cash equivalents of less than $0.1 billion; 2025 budgeted Net Debt does not include budgeted debt fair value adjustments or the budgeted foreign exchange impact on our Euro denominated debt, as these amounts are impractical to predict and are expected to be immaterial. Amounts associated with Joint Ventures - Certain Items and Adjusted EBITDA reflect amounts from unconsolidated joint ventures (JVs) and consolidated JVs utilizing the same recognition and measurement methods used to record “Earnings from equity investments” and “Noncontrolling interests,” respectively. The calculation of Adjusted EBITDA related to our unconsolidated and consolidated JVs include the same items (DD&A, including amortization of basis differences related to our JVs, and income tax expense) with respect to the JVs as those included in the calculation of Adjusted EBITDA for our wholly owned consolidated subsidiaries; further, we remove the portion of these adjustments attributable to non-controlling interests. Although these amounts related to our unconsolidated JVs are included in the calculation of Adjusted EBITDA, such inclusion should not be understood to imply that we have control over the operations and resulting revenues, expenses, or cash flows of such unconsolidated JVs. View source version on businesswire.com : https://www.businesswire.com/news/home/20241209656170/en/ CONTACT: Dave Conover Media Relations newsroom@kindermorgan.comInvestor Relations (800) 348-7320 km_ir@kindermorgan.com www.kindermorgan.com KEYWORD: TEXAS UNITED STATES NORTH AMERICA CANADA INDUSTRY KEYWORD: OIL/GAS ENERGY SOURCE: Kinder Morgan, Inc. Copyright Business Wire 2024. PUB: 12/09/2024 04:05 PM/DISC: 12/09/2024 04:06 PM http://www.businesswire.com/news/home/20241209656170/enThe Associated Press national player of the week in college football for Week 15 of the season: Cam Skattebo continued his late-season tear with 170 yards rushing, 208 all-purpose yards and three touchdowns in Arizona State's 45-19 win over Iowa State in the Big 12 championship game. The senior running back averaged 10.6 yards per rushing attempt and had three carries of more than 20 yards. His TD runs were from 3 and 2 yards and he had a 33-yard scoring catch. His 2,074 all-purpose yards are a program record. Skattebo will go into the Sun Devils' College Football Playoff quarterfinal with 22 total touchdowns and 19 rushing touchdowns, both tied for the school record, and he needs 75 yards to break the program single-season rushing record of 1,642. Skattebo is player of the week for the second time this season. He was honored after the Sun Devils' Week 2 win over Mississippi State for rushing for a career-high 262 yards and amassing 297 all-purpose yards. Boise State running back and Heisman Trophy hopeful Ashton Jeanty rushed for 209 yards and a touchdown in a 21-7 win over UNLV in the Mountain West championship game. The junior running back became the program’s all-time leading rusher with 4,655 yards. Freshman Nolan Hauser made a 56-yard field goal as time expired as Clemson beat SMU 34-31 in the Atlantic Coast Conference championship game. His previous long field goal was 51 yards. ... Army QB Bryson Daily ran for 126 yards and four touchdowns on 25 carries in a 35-14 win over Tulane in the American Athletic Conference title game. ... Georgia backup QB Gunner Stockton, who replaced an injured Carson Beck at the start of the second half of the Southeastern Conference championship game against Texas, was 12 of 16 for 71 yards in a 22-19 overtime win. ... Clemson QB Cade Klubnik completed 24 of 41 passes for 262 yards and an ACC championship game record-tying four passing TDs. ... Oregon WR Tez Johnson caught 11 passes for 181 yards and a touchdown in a 45-37 win over Penn State in the Big Ten championship game. ... SMU QB Kevin Jennings was 31 of 50 for 304 yards and three TDs against Clemson. — Georgia has trailed at halftime in six of its 13 games. The Bulldogs have won four of them. — Nebraska will end the longest bowl drought among power-conference programs — seven years — when it plays Boston College in the Pinstripe Bowl on Dec. 28. — Arizona State and Indiana are among three power-conference programs since 2012 to increase their win total by eight games from one season to the next. TCU also did it in 2021-22. — SMU's loss to Clemson ended the Mustangs' 18-game conference win streak. — Ohio, which claimed its first Mid-American Conference title since 1968, has won 10 games in three straight seasons. — Marshall's 31-3 win over Louisiana-Lafayette was the largest margin of victory in the seven Sun Belt championship games and fewest points allowed by the winning team. ___ AP voters: Aaron Beard, Pat Graham, Stephen Hawkins, Pete Iacobelli, Mark Long, John Marshall, Eric Olson, John Zenor. ___ Get poll alerts and updates on the AP Top 25 throughout the season. Sign up here . AP college football: https://apnews.com/hub/ap-top-25-college-football-poll and https://apnews.com/hub/college-football >> Download the 12News app for the latest local breaking news straight to your phone. Watch 12News+ for free You can now watch 12News content anytime, anywhere thanks to the 12News+ app! The free 12News+ app from 12News lets users stream live events — including daily newscasts like "Today in AZ" and "12 News" and our daily lifestyle program, "Arizona Midday"—on Roku and Amazon Fire TV . 12News+ showcases live video throughout the day for breaking news, local news, weather and even an occasional moment of Zen showcasing breathtaking sights from across Arizona. Users can also watch on-demand videos of top stories, local politics, I-Team investigations, Arizona-specific features and vintage videos from the 12News archives. Roku: Add the channel from the Roku store or by searching for "12 News KPNX." Amazon Fire TV: Search for "12 News KPNX" to find the free 12News+ app to add to your account , or have the 12News+ app delivered directly to your Amazon Fire TV through Amazon.com or the Amazon app. Arizona sports The city of Phoenix is home to four major professional sports league teams; The NFL's Arizona Cardinals, NBA's Phoenix Suns, WNBA’s Phoenix Mercury and MLB's Arizona Diamondbacks. The Cardinals have made State Farm Stadium in Glendale their home turf and the Footprint Center in downtown Phoenix is home to both the Suns and the Mercury. The Indoor Football League’s Arizona Rattlers play at Desert Diamond Arena in Glendale. Phoenix also has a soccer team with the USL's Phoenix Rising FC, who play at Phoenix Rising FC Stadium in Phoenix. The Valley hosts multiple major sporting events every year, including college football's Fiesta Bowl and Guaranteed Rate Bowl; the PGA Tour’s highest-attended event, the WM Phoenix Open; NASCAR events each spring and fall, including Championship Weekend in November; and Cactus League Spring Training for 15 Major League Baseball franchises. 12Sports on YouTube Get the latest news and stories from 12Sports on the 12News YouTube channel. And don't forget to subscribe!Tanner, Charles connect for 2 TDs and Robert Morris tops Stonehill 31-13
Some snow falls in parts of New Hampshire; other areas see rain
SAN DIEGO , Dec. 10, 2024 /PRNewswire/ -- Robbins LLP reminds investors of the class action filed on behalf of all persons and entities that purchased or otherwise acquired Humacyte, Inc. (NASDAQ: HUMA ) securities between May 10, 2024 and October 17, 2024 . Humacyte and its consolidated subsidiaries develop and manufacture off-the-shelf, implantable, and bioengineered human tissues. For more information, submit a form , email attorney Aaron Dumas, Jr. , or give us a call at (800) 350-6003. The Allegations: Robbins LLP is Investigating Allegations that Humacyte, Inc (HUMA) Misled Investors Regarding its Manufacturing Practices According to the complaint, Humacyte is currently engaged in engineering and manufacturing Acellular Tissue Engineered Vessel ("ATEV"), also known as "Human Acellular Vessel," which is a lab-grown blood vessel implant that can act as a replacement for an injured or damaged blood vessel. On August 9, 2024 , Humacyte issued a press release announcing that the FDA "will require additional time to complete its review of its Biologic License Application (BLA) for the acellular tissue engineered vessel (ATEV) in the vascular trauma indication." The press release disclosed in part, that, "[d]uring the course of the BLA review, the FDA has conducted inspections of our manufacturing facilities and clinical sites and has actively engaged with us in multiple discussions regarding our BLA filing[.]" On this news, the Company's stock price declined $1.29 , or 16.4%, to close at $6.62 per share on August 12, 2024 . The complaint further alleges that on October 17, 2024 , the FDA released a Form 483 concerning Humacyte's Durham, North Carolina facility, which revealed violations, including "no microbial quality assurance," "no microbial testing," and inadequate "quality oversight." On this news, the Company's stock price declined $0.95 , or 16.35%, to close at $4.86 per share on October 17, 2024 . Plaintiff alleges that during the class period, defendants failed to disclose to investors: (1) that the Company's Durham, North Carolina facility failed to comply with good manufacturing practices, including quality assurance and microbial testing; (2) that the FDA's review of the BLA would be delayed while Humacyte remediated these deficiencies; and (3) that, as a result, there was a substantial risk to FDA approval of ATEV for vascular trauma. What Now : You may be eligible to participate in the class action against Humacyte, Inc. Shareholders who want to serve as lead plaintiff for the class must submit their application to the court by January 17, 2025 . A lead plaintiff is a representative party who acts on behalf of other class members in directing the litigation. You do not have to participate in the case to be eligible for a recovery. If you choose to take no action, you can remain an absent class member. For more information, click here . All representation is on a contingency fee basis. Shareholders pay no fees or expenses. About Robbins LLP : Some law firms issuing releases about this matter do not actually litigate securities class actions; Robbins LLP does. A recognized leader in shareholder rights litigation, the attorneys and staff of Robbins LLP have been dedicated to helping shareholders recover losses, improve corporate governance structures, and hold company executives accountable for their wrongdoing since 2002. Since our inception, we have obtained over $1 billion for shareholders. To be notified if a class action against Humacyte, Inc. settles or to receive free alerts when corporate executives engage in wrongdoing, sign up for Stock Watch today. Attorney Advertising. Past results do not guarantee a similar outcome. SOURCE Robbins LLP